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U
u m
m
f i n a t i r i a l
K
f r r i n
IN C L U D IN G
Railway & Industrial Section
Bankers’ Convention Section
Bank & Quotation Section
Railway Earnings Section
SATURDAY, APRIL 2d 1910.
VO L. 90.
’g k z
”
1910.
PUBLISHED W EEKLY .
For Ono Year — ...................................................................... .............$10 00
For Six Months........................................................... ............................... <> 00
European Subscription (including postage).......................................... Id 00
European Subscription six months (including postage)...................... 7 50
Annual Subscription in London (including postage)...........................£2 14s.
Six Months Subscription in London (including postage).................... £1 11 s.
Canadian Subscription (including postage) ..........................................$11 50
S u b s c r ip tio n in c lu d e s fo llo w in g S u p p le m e n ts —
li ink and Quotation (monthly)
I S pate and City (semi-annually)
Railway and I ndustrial (quarterly) Electric Railway Cl times yearly)
Railway E arnings (monthly)
| Hankers’ Convention (yearly)
Chicago---------Cincinnati------Cleveland.........
Detroit_______
Milwaukee---- .
Indianapolis. .
Columbus------Grand ltapids...
Springfield, 111 ..
Fort Wayne---Youngstown .. .
Lexington------S t a n d i n g B u s i n e s s C a r d s ) ^ M o n t h s 11' * ( R ;
{
K! K! I K KRockford
! 5 0 0 0 ------(. Twolvo Months (52 times)........................... H7 00 Akron____ ..
Quincy.---------CHICAGO OFFICE—Pliny Bartlett, M3 Monadnock Block; Tel. Harrison 4012 Springfield, O...
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. O.
South Bend.......
Bloomington.. .
W I L L I A M 15. D A N A O O ilIP A N Y , P u b l l s l i c r s ,
Decatur ...........
1*. O. B ox Q5S.
F r o n t, P in o a n d D epcyw tcr S ts .,
N ew Y o rk .
Mansfield____ _
Published every Saturday morning by WILLIAM B. DANA COMPANY
Jackson ---------William B. Dana, President; Jacob Seibert Jr., Vloo-Pres. and Sec.; Arnold Jacksonville, III.
G. Dana, Trcas. Addresses of all,Olllco ot the Company.
_________
Ann Arbor------A- ian .............
Lima.................
C L E A R I N G -H O U S E R E T U R N S .
Tot. Mid.West.
The following table, made up by telegraph, &c., indicates that the total
bank clearings of all clearing houses of the United States for week ending San Francisco...
April 23 have been 53,173,113,184, against $3,333,708,04!) last week and Los Angeles........
$3,149,019,709 the corresponding week last year.
Seattle . . ---Portland_____
Salt I.ake City..
Per
C le a r in g s — R e tu r n s b y T e le g r a p h .
Spokane---------C
e
n
t.
1909.
1910.
W e e k e n d in g A p r i l 23.
—8.7 Oakland---------New York............................................. $1,524,732,947 $1,070,902,479
126,318,747
—6.6
118,017,891
114,157,711
+7.8
123,072,725
20,622,828 +10.9
24,109,096
220,770,205 +13.5
250,550,323
54,607,598 +21.2
66,193,996
+ 1.0 North Yakima ..
13,722,938
13,860,455
—4.5 Pasadena...........
Seven cities, five days---------------- $2,120,537,433 S2,221,168,506
412,639,843 + 22.0
503,298,704
Other cities, five days------- -------- Total Pacific..
—0.4
$2,623,830,197 $2,633,808,349
+ 7.6 Kansas C ity---515,211,420
554,276,987
+ 0.9 Minneapolis.---Total all cities for week..................... $3,178,113,184 $3,149,019,769
St. Paul______
The full details for the week covered by the above will be given next Sat
urday. 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 St. J o s e p h ..........
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 Wichita.............
noon, April 10, for four years:
Terms of Advertising— Per Inch Space
Transient matter per inch spaco (14 agate lines).................................... $4 20
r Two Months
(^ times)........................... 22 00
W e e k e n d in g A p r i l
C le a r in g s a t —
1910.
Albany......... .
Washington __
Rochester . . . . .
Scranton...........
Syracuse...........
Reading . ...........
Wilmington.. . .
Wilkes-Barre . . .
Wheeling ........Harrisburg____
Franklin _____
1900.
S
s
1,973,673,802 1,953,632,259
152,914,730 152,353,164
51,969,651
54,951,187
30,993,601
29,997,403
8,292,392
9,395,961
5,391,945
6,750,975
6,528,797
7,363,205
4,201,011
3,350,254
2,895,190
2,613,991
2,437.312
2,160,140
1,828,948
1,880,385
1,581,997
1,412,751
1,373,344
1,060,308
1,992,301
1,704,208
2,294,571
1,937,983
1,329,730
1,487,670
1,113,981
1,190,337
819,138
876,240
431,700
570,800
475,470
663,657
486,969
595,131
468,576
511,090
245,407
307,833
I n c . or
D ec.
10.
1908.
Cedar Rapids...
1907.
$
$
%
+ 1.0 1,169,701,079 1,725,850,605
+0.4 105,777,326 151,297,927 Duluth...............
53,231,550
36,801,890
+ 5.7
Tot. oth.Wcst.
20,602,372
2 / ,345, I2u
—3.2
7,582,705
9,031,956
+ 13.3
7,601,104 St. Louis............
4,995,603
+ 25.5
5,930,804
5,385,403
+ 12.8
3,172,028
3,483,810
-j-25.2
2,145,390
1,842,874
4-10.8
1,824,105
1,570,968
+ 12.5
1,395,345
1,365,723
—2.7
1,284,532
1,212,218
+ 12.0
1,250,384
1,146,170
+ 29.5
1,139,817
1,503,036
4-16.9
+ 1S.G
1,603,281
—10.6
976,415
_____
+ 6.9
822,530
711,252
+ 7.0
577,682
+32.2
012,600
550,500
+ 39.6
486,000
428,066
+ 22.2
529,735
399,714
+9.1
431,383
247,929
+ 25.4
228,521
Total Middle.. 2,250,702,661 2,230,822,773 + 1,3 1,367,446,030 1,996,706.584
163,590,108 194,248,482 —15.8 146,671,280 156,333,821
0,753,600
8,209,600
8,416,000 + 2.7
8,647,200
3,003,644
4,380,900 + 6.3
3,802,607
4,655,705
Hartford_____
2,237,800
2,548,698
3,023,148 + 1.8
3,076,605
1,919,355
2,037,600
2,240,286 + 14.9
Springfield..........
2,574,405
1,781,075 + 50.5
1,676,444
1,635,728
Worcester------2,680,000
1,476,798
1,732,991
1,598,739 + 17.0
Portland_____
1,869,384
1,008,567
1.115,349 + 20.1
873,069
Fall River.........
1,339,391
725,520
911,316
969,036 + 15.1
New Bedford . . .
1,116,945
486,304
520,045
615,554 —8.9
560,970
432,392
372,446
503,336 + 6.7
517,097
Holyoke.............
Total New Eng. 190,453,870 218,891,959 —13.0 166,731,990 178,097,635
' This year’s clearings considerably Increased by out-of-town clearings department.
Total Southeri
NO. 2339.
W e e k en d in g A p r il
C learings a l —
(P t r m t i c l e .
Terms of Subscription— Payable in Advance
Hu Halo...............
Electric Railway Section
State and City Section
1909.
In c . o r
D ec.
1C.
1908.
1907. 1
%
s
8
S
291,762,543 269,207,819 + 8.4 232,033,465 234,311,069
28,336,800
27,022,900 + 4.9
24,391,450
28,905,100
22,341,544
18,333,147 +21.9
14,756,152
17,961,728
18,858,945
14,450,000 + 30.5
13,949,774
13,622,587
13,644,742
11,501,942 + 18.0
10,576,822
10,362,029
8,703,994
7,835,475 + 11.1
7,158,967
7,025,258
7,295,500 — 12.1
4,776,600
6,416,400
5,661,400
3,841,350 +35.0
5,187,899
3,792,094
4,481,755
2,920,758 +3.3
2,355,740
3,015,904
2,046,719
2,404,421 + 12.8
2,072,804
2,711,525
2,431,994
1,994,398 + 26.1
1,593,838
2,156,952
2,515,359
2,294,748 + 10.0
1.880.9S9
1,880,428
2,523,608
+ 7.9
1,030,280
1 ,232,950
1,330,170
957,570
842,023
875,00!) + 20.3
777,S44
1,052,893
887,625
953,226 + 27.5
748,970
1,215,275
650,000
904,062 + 32.5
710,515
1,198,239
688,502
J,067,133 —10.7
793,017
952,592
693,517
649,393
812,357
676,696 + 20.1
711,707
084,332
900,472
752,690 + 19.6
685,000 + 48.6
690,000
1,017,800
915,000
600,000 + 9.6
485,009
657,656
472,980
481,551 + 18.6
419,292
570,937
450,444
548,902 + 15.6
430,818
634,526
484,037
508,658 + 17.3
443,433
596,698
426,362
399,190
407,634 + 25.4
511,198
394,152
390,222
567,714
469,939 + 20.8
414,431
+ 74.7
639,993
338,141
360,000 + 10.0
396,000
370,010
333,333
298,294
295,290 + 1.0
255,021
210,832
171,525 + 11.2
190,717
137,055
126,116
29,064 + 8.0
31,577
25,092
26,000
290,173 + 17.8
341,730
270,000
345,000
419,936,101 380,778,256 + 10.3 329,507,047 341,869,432
47,199,342
40,117,928
14,285,616
17,990,756
10,209,310
14.711,069
8,434,604
11,292,388
7,056,775
6,102,575
3,911,380
5,545,003
4,353,548
5,159,716
3,357,102
2,198,346
1,183,804
1,057,969
992,976
1,291,420
1,067,000
1,250,000
476,151
747,909
483,978
590,073
454,202
471.480
430,899
• 515,030
201,008
215,027
956,294 Not included
+ 17.7
+ 25.9
+ 45 1
+ 33.9
—13.5
+ 41.8
+ 18.5
+ 52.7
— 10.6
+30.1
+ 17.1
+ 57.1
+21 9
+3.8
+ 19.5
+ 6.9
In total
37,279,751
10,525,642
8,404,944
6,027,920
4,591,747
3,054,613
4,032,269
1.453,917
623,828
865,000
800,000
455,210
400,660
501,3 OS
300,000
189,191
47,976,521
13,280,565
9,201,151
7,441,105
5,821,816
2,561,885
4,573,512
3,036,204
939,793
433,110
96,057,643 + 22.3
79,506,000
95,265,662
47,241,350
58,700,462
18,903,296
20,758,536
14,490,532
17,778,266
8,839,879
11,372,707
8.507,019
9,075,514
6,047,383
8,000,000
4,034,925
4,335,232
2,285,428
3,639,557
2,583,892
3,051,864
1,536,727
1,529,342
1,050,139
1,354,342
1,288,774
1,469,344
1,031,131
1,450,000
777,968
845,505
609,141
592,468
261,409
351,886
760,130
956,382
630,000
1,050,000
3,137,868 Not included
146,311,407 120,909,135
+ 24.3
+9.8
+ 22.7
+28.7
+ 5.9
+32.3
+ 7.4
+ 59.2
+ 18.1
—0.5
+ 29.0
+ 14.0
+ 40.6
+ 8.7
—2.7
+ 34.6
+ 25.8
+ 06.7
In total
37,323,500
16,370,940
11,735,399
7,689,156
8,197,713
5,286,357
2,821,613
2,040,780
1,280,336
1,090,987
1,050,113
1,009,229
.873,071
741,387
582,551
255,153
604,246
540,000
31,190,530
20,057,612
10,812,769
8,90,1531
7,778,117
5,925,374
3,130,393
2,364,066
1,443,134
1,288,511
1,199,760
1,091,108
707,239
629,688
617,893
218,549
490,014
472,950
+21.0
99,492,531
98,325,238
80,015.654
16,321,855
16,441,959
13,737,104
0,277,500
8,278,000
7,000,000
»li:039,319
6,434,317
3,803,828
4,188,871
2,746,799
2,425,603
1,550,000
1.931.237
2,909,690;
1.716.398
1.919.831
1.638.013
1.409.838
2,680,000
870,00(
620,000
2,247,370
251.693
566,286
540,000
246,916
65,932,421
18,069,644
12,274,807
10,050,279
6,841,000
6,490,096
0,923,456
5,535,335
5,925,935
3,971,001
3,882,377
2,578,388
1,929,244
1,028,854
1,975,124
2,097,317
1,739,437
1,333,999
1,229,5/7
1,300,164
1,603,809
697,152
612,519
907,347
283.763
348,498
347,000
260,732
+ 21.4
—9.7
+ 33.9
—14.7
—8.2
+ 27.5
+ 1.1
+ 99.4
+ 8.6
—4.2
+ 7.9
+ 6.5
+ 41.3
—4.8
—2.2
+38.7
—1.3
+ 25.2
+33.3
+ 7.9
+ 64.7
+ 24.8
+ 1.2
+ 147.7
—11.3
+ 62.5
+ 55.0
—5.3
62,963,310
12,405,661
10,587,285
10,441,379
5,982,500
5,064,100
3,720,709
4,363,870
4,175,688
2,597,860
2,496,015
1,982,432
1,619,185
1,477,631
1,336,048
1,394,508
1,377,462
1,182,584
1,105,892
1,043,395
875,517
711,lOt
572,415
625.00C
302,502
300,000
_____
61,598,424
17,306,129
12,995,047
11,208,015
0,290,500
0,465,841
3,215,091
4,975,726
4,840,572
3,190,887
4,004,044
2,694,395
2,281,052
1,517,368
1,323,115
1,6S0,808
1,271,160
1,488,060
1,258,002
1,012,606
995,779
615,761
400,000
199,808,081
173,039,335 + 15.5
117,496,829
Total all......... 3,333,708,949 3,221,329,191
O utside N. Y. ip360.035.147 1,267,696,932
380,000
______
141,304,047 153,908,988
+3.5 2,183,997,645 2,804,773,639
+ 7.3 1,014,296,566 1.188.913,694
THE CHRONICLE
1060
[VOL.
LXXXX.
Net earnings of United States railroads, which in have to bo reorganized.
December were cut down by bad weather, are again
on the increase. Here is the record for the last three
months:
December 1909, 229,369 miles, decrease $1,302,623.
January
1910, 229,204 miles, increase $6,330,807.
February 1910, 231,296 miles, increase $7,293,722.
The figures for February have been compiled by us
this week and are discussed in an article on a subse
quent page. They are made up from the returns filed
with the Inter-State Commerce Commission at Wash
ington. Greatest interest of course attaches to the
results for the separate roads. These will all be
found (together with full details of both earnings and
expenses) in the special supplement called our “Rail
way Earnings Section,” which we send to our sub
scribers with to-day’s issue of the “Chronicle.” This
supplement gives the earnings of every operating
steam railroad in the United States, big and little,
which makes monthly returns to the Commission—
over 800 companies altogether, covering more than
235,000 miles of road.
THE FINANCIAL SITUATION.
The improvement in tone which came last week
with the announcement by the U. S. Supreme Court
that the trust cases would receive a rehearing has the
present week been lost again. Political influences
have exercised a renewed depressing effect. In par
ticular, the prospect of adverse legislation has put a
damper upon reviving hope. The Railroad Rate Bill,
with its many radical and objectionable features, is
being considered in both branches of Congress, and
the Washington dispatches tell us it will pass in some
form very shortly in the Senate and in the House.
Furthermore—and that is perhaps the most significant
feature—the dispatches also tell us that President Taft
is determined to have a bill in entire accord with his
views, and will not leave Washington while the meas
ure is in conference, if he can avoid it. Upon the conferrees will depend the real character of the measure and
all its details, and the President will be on hand and
use his great powers to get the kind of an Act he wants.
He recalls his success in forcing through the Corporation
Tax provision during the tariff discussions, and in like
manner means to be potent in shaping the railroad bill.
The activity of the Administration in other direc
tions also tends to check a revival of confidence.
Attorney-General Wickersham is at work planning
new trust prosecutions. A move made this week is
of a different character from previous steps of this kind.
It is apparently directed against an assumed attempt
to corner the May option in cotton and possibly some
other options. The Federal Grand Jury at this point
has been directed to make an investigation of the
matter, and subpoenas have been issued in large num
bers directing the appearance of members of cotton
houses before the jury. That the price of the staple
has for some time been maintained at an artificially
high level by manipulation our readers know to be a
fact. And the harm done by such proceedings is
shown by the announcement Thursday afternoon
that, owing to the rise in the price of raw cotton, the
highly respected Tefft-Weller Co. of this city would
Still, intervention by the
Government is viewed with disfavor and misgivings.
Granting that the Administration is acting from the
best motives, it is considered a dangerous practice for
Government to engage in legal moves which, though
they may prove damaging to one set of speculators,
must result to the advantage of another set of specu
lators. Natural laws are the best corrective in such
instances. Belated efforts by Government authorities
are nearly always ineffective, as we sec in the present
instance. Unfortunately, too, there have been rumors
that this is only the beginning of a general attempt to
destroy future trading in all kinds of commodities.
It has been quite definitely reported that the Depart
ment of Justice is endeavoring to find out whether
the Chicago Board of Trade is guilty of violating
through any sort of a committee the Sherman Anti
Trust law. Furthermore, at Elgin, 111., the Federal
Government has been making a legal inquiry into the
alleged fixing of the price of butter, while at Chicago,
according to the news dispatches, it is beginning an
investigation into the egg trade. Already, the Attor
ney-General has evidence of the effect of the Chicago
price of eggs on the markets throughout the country.
The attempt that has been made to construe the
defeat of George W. Aldridge, the Republican candi
date for Congress in the 32d Congressional District
of this State by James S. Havens, the Democratic
candidate (which has also been one of the events of
this week), as cause for present depression, is hardly
to be treated seriously. The argument on that score
is certainly far-fetched. The election was to fill the
vacancy caused by the death of James B. Perkins,
Republican, who in 1908 had a plurality of 10,167.
Now Mr. Aldridge is defeated by a plurality of 5,440.
Mr. Aldridge has been known as the Republican boss of
Rochester and was opposed by many Republicans
on that ground and also by reason of certain dis
closures at the recent insurance investigation con
ducted by Mr. Hotchkiss, the State Superintendent
of Insurance. The evidence showed that Mr. Aldridge
had received a $1,000 check from Elijah J. Kennedy,
an agent of the fire insurance companies. Mr.
Aldridge admitted the receipt of the check, but said it
was for campaign purposes, and he denied having
benefited personally. As it happened, Mr. Havens
on his part made a fight on the tariff issue and the
high cost of living, and the tremendous reversal of
party majority in this Congressional district, following
the equally noteworthy upheaval last month in the
14th Massachusetts District, where Eugene N. Foss
was elected as a Democratic candidate, is looked upon
by many as indicating dissatisfaction with the present
tariff policy and as foreshadowing the election of a
Democratic Congress the coming November. A
Democratic Congress in turn, it is argued, would
mean a new tariff law and the destruction of our long
existing protective tariff system. That, however, is
proceeding rather hastily. Just how far Mr. Al
dridge’s defeat must be ascribed to dissatisfaction
with his candidacy and how far a desire for tariff
reform played part in it cannot be stated. But
one might admit that the defeat portended a Demo
cratic Congress next November without seeing in it
any cause for uneasiness at this early date for fear
of the lowering or possible abandonment of protective
A pr . 23 1910.]
THE CHRONICLE
tariff duties. The new Congress, unless convened in
extra session by the President, will not assemble until
December of next year—twenty months hence. If,
after long debate, a free trade bill should actually be
passed the likelihood of the Senate’s approving it is
very remote and the likelihood of the President
appending his signature to it still more remote.
Apparently greater warrant for anxiety exists on
account of the prospective retirement from the Senate
of Senators Nelson W. Aldrich of Rhode Island and
Eugene Hale of Maine. Both have given out letters
this week saying they would not be candidates for
re-election and consequently their services in the
Senate will end on the 4th of next March. The two
have been in the Senate nearly thirty years and both
have exercised during that period a tremendous in
fluence upon legislation. Until more recent years this
influence has always been exerted in favor of consevatism. It seems plausible, therefore, to argue
that with these two men out of the Senate the course
of radicalism will be easier. And yet even the sig
nificance of that event can easily be exaggerated.
The two men have been conservative by training and
temperament, but the truth is that except in the
matter of tariff legislation they, too, some time ago
fell a prey to radicalism. Was there ever a greater
departure in government than the Corporation Tax
provision, and yet Senator Aldrich actually co-operated
with President Taft in pushing this measure through
and making it a law. The Hepburn Rate Bill and
some other radical measures of the Roosevelt Anministration also went merrily through Congress while
Messrs. Aldrich and Hale, members of the so-called
“Old Guard” , were at their posts and in the prime
of their powers. Bearing these things in mind, it is
evident that the situation after the 4th of next March
will not be so very greatly altered after all with the
disappearance of these truly estimable gentlemen.
Why should not the credit of the great State of New
York be at least as good as that of neighboring States?
Every one will at once say, it should. As a matter of
fact, it is not. We had a test this week. The State
offered $5,000,000 4% highway bonds. The bonds
have 50 years to run with no right of redemption
before maturity. No choicer security could be found
anywhere in the world. The issue, of course, was
largely over-subscribed, but much better prices than
those actually realized could have been wished. In
the first place, a 4% bond for this State must be re
garded as somewhat of an anomaly. Massachusetts
has no difficulty in floating 3%% bonds. Nor has
Connecticut. The result of this week’s sale shows
that New York could not have placed a 3%% issue,
and the State authorities, therefore, were fully justified
in putting out 4% bonds, for the attempt to sell 3%s
must inevitably have ended in failure.
The present issue is the first made under the incum
bency of State Comptroller Clark Williams, whose
very name is a tower of strength by reason of the in
fluential financial connections he has had in the past
and the excellence of his administration of the State
Banking Department. Yet the average price realized
on this 50-year issue of 4s was only about 105%. It
would be unfair to compare this with the sale in April
last year of $10,000,000 3% Canal bonds, when a
premium was realized even for 3s, because these 3s
1067
had an advantage by reason of the fact that certain
classes of institutions buying and holding bonds bear
ing such a low rate are allowed rebates from their
taxes, a circumstance which increases the rate of re
turn to them. But in December 1908 $5,000,000
50-year 4% highway bonds, precisely the same as the
present issue, were disposed of, and the price then
obtained was 111.60, or over 6 points better than atpresent. In other words, while the State at that time
obtained its money on an interest basis of 3.507%, at
this week’s sale the cost of the money to the State
was 3.761%.
It happens that Connecticut and Massachusetts have
also recently put out some blocks of long-term bonds.
These, as already stated, are 3%s, and both States
were able to obtain a trifling premium on bonds bearing
that rate of interest, making the cost of the money to
them actually less than 3%%. The Connecticut bond
sale was made on Thursday of last week. It consisted
of $2,000,000 3%s, and the bonds were placed at par,
except that a small portion went at a price better than
par. Massachusetts in February sold $4,791,000 3%s
and obtained an average price of 100.39—a basis of
about 3.478%. This last, as we see, compares with
3.761%, the interest basis on the New York sale the
present week. How is this difference to be explained?
Prior to 1907 the State had no difficulty in selling its
3% bonds (without any such adventitious aids as now
exist in the case of 3s) at a premium. In the interval
since then the credit of New York City has also de
teriorated, but our readers are familiar with the
stereotyped explanation offered for this. “Tam
many” we are told. Tammany is supposed to be the
synonym for all that is bad and repellent in govern
ment.
But such an explanation, of course, would not
answer in the case of the State, for Tammany is not in
control at Albany. There Gov. Hughes has been the
guiding head since the beginning of 1907, and the
watchword of his administration has been “Reform.”
Reform, indeed, has permeated every tiling and oozed
out everywhere. Our life insurance companies have
been placed in a legislative straight-jacket. Two
public service commissions have been created, whose
duty it is to regulate everything in connection with
steam and electric railways and light and power con
cerns. The Governor is insistent, too, that jurisdiction
should be given them over telegraph and telephone
companies, and the Legislature is now expected to
confer this jurisdiction upon them. Race-track gam
bling has been abolished. Political bossism has been
impaled. A member of the State Senate has been
expelled for having, as alleged, accepted a bribe in
connection with his legislative duty. The Senator
who acted as intermediary in the transaction thought it
best to resign rather than run the risk of expulsion.
The State Insurance Commissioner has been making
an investigation of the fire insurance companies and
has uncovered some reprehensible practices. Now, at
the instance of Gov. Hughes, and in response to public
demand, a general roving legislative commission is to
be appointed to investigate everything and everybody.
This commission is expected to sit for many months.
And as illustrating the tendency on the part of the
Legislature to regulate even the details of private
affairs, we may refer to the fact that the Governor this
week, according to the Albany papers, signed a
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THE CHRONICLE
bill “providing for sanitary cuspidors in factories, to
be thoroughly cleaned daily, and forbidding expec
torating on the walls or stairs.”
With such manifold evidences of reforms and at
tempts at house-cleaning, and with paternalism visible
everywhere, one might imagine that the capitalist
and investor would feel that things in the Empire
State are safeguarded as nowhere else in the country
and rush to invest their moneys in the securities of the
State. Instead of that, we find them coming forward
very grudgingly and asking odds as if they were afraid
that there was a weak point somewhere after all.
Perhaps they would be more impressed if there was less
collective action and more evidence of individuality
and sturdy independence. Is it not quite possible that
capital holds aloof because our own people (if we are
to judge from the activity of the politicians) take so
much delight in questioning men's motives and are
so eager to discredit the State in the eyes of the
world; and, furthermore, because our Government
authorities, by the course they are pursuing, are
unmistakably declaring that the citizens of this great
commonwealth cannot be trusted to manage their own
affairs, but Government must do it for them. At
all events, if these suggestions do not throw light upon
the State’s inability to borrow on the same favorable
terms as neighboring States, we would ask our great
moralists and purists to tell us just what the trouble is.
The United States Steel Corporation has gone a
step further in its enlightened policy of the treatment
of its employees. What it is doing in this way is
not to the liking of the leaders of labor unions, who
would have their followers believe that only union
exertion on behalf of the men can be effective or
count for much. But the managers of this great cor
poration, which in magnitude far exceeds that of
every other industrial corporation in the world, are
going straight ahead in their purpose of providing for
the comfort and protection of their employees, unde
terred by the flings and criticisms of the union leaders.
Samuel Gompers of the American Federation of Labor
has launched some of his fiercest Philippics against
this corporation. Yet in its treatment of its em
ployees the policy of the Steel Corporation has been
as unique and distinctive as the policy with reference
to the prices charged for its goods and products. In
the latter instance the aim has been to insure price
stability as far as possible by preventing violent ex
tremes, either up or down. At the same time the
effort has been to gradually lower the level of prices
by cheapening the cost of production.
On the other hand, in the case of the employees the
purpose has been to secure the co-operation of the men by
affording them opportunities to share in the company’s
prosperity, by keeping the level of wages high and
raising it whenever conditions in any way admitted
of the step, and furthermore by making the employees
feel that those conducting the company’s affairs were
sincerely solicitous for the progress and success of the
men. The well-known plan by which employees are
allowed to purchase shares of the company and the
liberal bonus funds provided for faithful service are
steps to that end. Such treatment insures good and
efficient work, and this, together with the adoption of
improved appliances and devices of every kind, is an
important element in cheapening production cost'.
[VOL.
LXXXX.
Thus the consumer and the laborer alike share in the
benefits of the policy being pursued.
It should be noted, too, that aside from the special
efforts on behalf of the employees, reductions in wages
have been resisted in times of depression and the lead
taken in advancing wages when returning prosperity
made the step possible. Twelve months ago, at the
time of the precipitate break in the prices of iron and
steel, when nearly all the large outside steel-producing
concerns were obliged to cut wages 10%, the managers
of the Steel Corporation did not even take the matter
of reducing the wages of Steel employees under serious
advisement. Now that the steel trade is enjoying re
newed activity the announcement comes that not
withstanding wages were not reduced when business
was bad they are nevertheless to be advanced now
that business is good. The average increase, it is
figured, will amount to about 6%.
In addition, departure has been made in an entirely
new direction, and it is to this more particularly to
which we wish to refer to-day. In brief, a plan for
relief of men injured and the families of men killed in
work accidents is now to go into effect. The officers
of the Steel Corporation and its subsidiary companies
have been developing the scheme since Dec. 1908.
The plan is a purely voluntary provision for injured
men and their families, made by the companies without
any contribution whatsoever from the men. In princi
ple, according to Chairman Gary, it is similar to the
provision made in German and other foreign laws. It
must not be thought that previously no provision has
existed for furnishing relief. Mr. Gary says that for
some years the subsidiary companies of the Steel Cor
poration have been making payments to men injured
and to the families of men killed, in practically all cases
without regard to legal liability. These payments, he
states, have amounted to more than one million dollars
a year. The plan now adopted, however, will result in
additional and wider benefits. Mr. Gary points out
that the payments are for relief and not as compensa
tion. He well says there can be no real compensation
for permanent injuries. The notion of compensation
is necessarily based on legal liability, which is entirely
disregarded in the present plan, as all men are to
receive the relief even though there be no legal liability
to pay them anything, which is the case, he states, in
at least 75% of all work accidents.
Under the plan, which goes into effect the 1st of May,
relief will be paid for temporary disablements and for
permanent injuries and for death. The relief is greater
for married men than for single men, and increases
according to the number of children and length of ser
vice. During temporary disablement single men
receive 85% of their wages and married men 50%, with
an additional 5% for each child under sixteen years
and 2% for each year of service above five years.
But in no case will single men receive morejthan $1,50
per day or married men more than $2 per day. In
case of permanent disablement the relief varies
according to the extent of the disability, running from
six months’ wages to eighteen months’ wages, paid in
a lump sum. Where men are killed in work accidents
their widows and children will receive ljz-j years’ wages
with an additional 10% for each child under sixteen
and 3% for each year of service above five years. In
no case is the death relief to exceed $3,000.
It is hardly necessary to say that no relief will be
paid to any employoe or his family if suit is brought
A pr . 23 1910.]
THE CHRONICLE
against the company. Nor will the company deal
with an attorney or with any one except the injured
man or some member of his family in the matter of
relief to be paid, because it is part of the plan that the
whole amount paid, shall be received by the employee
and his family. No relief will be paid for death or for
injuries caused or contributed to by the intoxication
of the employee killed or injured or his use of stimu
lants or narcotics or his taking part in any illegal or
immoral acts. No relief will be paid until the receipt
of a satisfactory release properly executed. At the
tart the arrangement will be in the nature of an
experiment, and, accordingly, it is to be definitely in
operation for only one year from May 1 1910. The
experiment will be watched with great interest. If it
proves successful, which there is every reason to
believe it will, the same or some similar plan will be
continued for succeeding years. Chairman Gary also
makes the announcement that a plan for the payment
of pensions to superannuated employees has been
nearly completed and it is expected that it will
shortly be put into practical effect.
It is regrettable that some portions of an official
examination of the Mutual Life (made in course of
routine and, as it happens, the first one of the largest
companies which has been made under Mr. Hotchkiss)
are in a tone of carping, and that these portions seem
to have been selected for publication. The company’s
condition is found irreproachable, but some strictures
are offered which do not appear warranted, and are
certainly not well timed. If the company did some
what understate existing liabilities on account of
death claims at some past date, that is financially of
no importance, and an accidental error in the enor
mous mass of detail now demanded by law is easily
excusable; for, although the law may be made by per
fect men, it must be complied with by imperfect ones.
Of late years, companies have found it expedient
to organize and maintain a system of keeping in
touch with policy-holders personally, adjusting their
complaints and misunderstandings when possible,
thereby reducing the wastage by abandoned insurance;
there is no better direction than this for a reasonable
expenditure. Complaint is made that “there is no
record at the home office which satisfactorily explains
what was done in return for” $354,144 charged in
1908 for. “supervision of old business.” The satisfac
toriness of an explanation is a relative matter which
may turn much upon the disposition of an examiner to
find fault; the nature of this supervisory work is also
such that it does not readily allow entering in minutest
detail. The summary made up for publication says
that the examiners state that examination of a few
branch offices which received a considerable part of
this money “leads to the inevitable conclusion” that
the money went “substantially” in bonuses for new
business, in violation of law. As just remarked, it is
not easy to assign its particular work to the expenditure
of each dollar on such service as this. The examiner
may have been mistaken. At least he generalizes
from a few instances, and puts a possible suspicion
into the form of an “inevitable conclusion.”
There was nothing in the general conditions of in
surance or of general business at that time to offer an
inducement to the management of the Mutual to ex
ert any extra pressure for writing new insurance. On
1069
the other hand, Section 53 declares guilty of a mis
demeanor (punishable by fine and imprisonment) any
corporation or person violating “any provision of the
insurance law, except where such violation consti
tutes a felony,” and this conviction of misdemeanor
is declared to be “in addition to any other penalty
otherwise prescribed.” We therefore submit that all
the presumption lies against a violation in this matter,
and that unless the examiner thought he found evi
dence upon which he was willing to make a charge, he
should have obeyed the presumption of innocence
rather than throw out an insinuation.
The settlement of the McCurdy suits is particularly
criticized, and the charge is made that either the trus
tees’ committee did not know the facts or purposely
misled the board; the committee’s statement of the
facts is said to have been “untrue in at least two par
ticulars and deceptive in one more.” Of course, we
cannot properly go into the details of this settlement,
which was made by a committee headed by ex-Judge
Tracy, and comprising President Marston of the Farm
ers’ Loan & Trust, Mr. H. W. Taft (lawyer and brother
of the President) and the heads of several industrial
corporations. The presumption is very strong that
these business men, who advised the settlement made
as being the best which apparently could be done,
informed themselves of the facts and used good judg
ment in their conclusions. It was admitted that the
result of pushing those suits to trial was very doubtful,
and they were therefore compromised out of court.
The arrangement was also approved by Mr. Joseph H.
Choate, the company’s special counsel in this particu
lar matter, and by Mr. James McKeen, the company’s
general counsel.
Not one of these men had a connection with the
company during the term in which the transactions
occurred, and not one of them could have had any
motive except to reach the wisest issue in the circum
stances. The opinion of one examiner cannot weigh
against theirs, and it is very unfortunate to have
charges flung out by a rather loose insinuation.
Curtailment of production by the cotton mills at
the South received a fresh impetus this week. A
meeting of mill-owners was held at Greensboro, N. C.,
on Tuesday, at which concerted action, such as would
make the movement more or less effective in that
State, was taken. The meeting was attended by dele
gates from seventy-five of the largest mills in North
Carolina, containing upwards of one million spindles,
or one-third of the State’s total spindleage, and is
therefore to be considered as a representative gather
ing. It was pointed out that conditions in the cotton
goods trade at the South are such that many manu
facturers cannot run their plants except at a loss,
while production is greater than current consumption.
Under these circumstances an improvement in con
ditions, it was believed, could only come through more
drastic curtailment than already in force.
This being the conviction of those in attendance at
Greensboro, it was determined that the normal out
put of yarns and cloths of the mills represented be
curtailed at least one-third between May 1 and Sept. 1
next, and that all night work be suspended during the
same period. Moreover, all cotton mills at the South
are urged to pursue a similar course. That conditions
warranted the action taken, in the minds of the repre
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[VOL.
LXXXX.
sentatives present, is evidenced by the tone of the off and the car workers are returning to their old
resolutions, which, by the way, were unanimously places, the company having won its contention not to
adopted, and are given in our cotton department be subservient to the union.
to-day.
The contest was stubbornly waged, accompanied
as it was by loss of life, destruction of property and
If every employee of the electric railways of this loss of earnings, with all the incidents of disorder that
country could be acquainted with the history of the usually go with labor troubles. The loss to the com
strike of the employees of the Philadelphia Rapid Tran pany is no doubt fully $1,500,000. To better its
sit Co., its causes, the hardships endured by the strik financial position, the Rapid Transit Co. has applied to
ers during two months of idleness and the futility of City Councils for permission to borrow $2,500,000 and
their sacrifices, a wholesome lesson would be taught. to pledge its equipment as security for funds with
The strike, which began on Feb. 19, was the culmina which to purchase additional cars. Councils Finance
tion of conditions which were absolutely intolerable. Committee has approved the request, which will
A strike upon the same trolley system, begun on May 30 probably be granted at the next meeting of Councils.
1909, had been partially successful. After the strik
ers returned to work, the national leader departed
The imminent passage of the Budget (already read
from the city, leaving the affairs of the union men in a first time) is causing some perturbation in the London
the hands of a committee appointed from among the money market. On Tuesday the Chancellor of the
workers. These committeemen were of the ordinary Exchequer declared that the present deficit of $131,
type of motormen and conductors—men without any 240,000 would be wiped out when all arrears had been
business experience whatever and entirely unaccus collected and that there would be an actual surplus
tomed to handling affairs of importance. One of their of $14,800,000; he added that, had the Budget been
number had had some experience in labor troubles in passed last year, the surplus would have been $21,
the anthracite coal regions of Pennsylvania, and on ac 000,000. 1 he strictly financial loss sustained by the
count of this prestige he was generally the spokesman British Treasury has thus been much lighter than had
for the committee of trolley workers. Instead of ap been popularly understood. What the money market
proaching the President of the Rapid Transit Co. as a is concerned over is the possible disturbance arising
business man might, who wished to sell goods, instead from the demand for so large a sum of tax money at
of using courtesy, tact and judgment, the committee the height of a Stock Exchange boom of unstable
undertook to domineer over the chief officer of the character and at a time when the Bank of England’s
transit company. This attitude assumed by employ bullion reserves have been so low that special precau
ees was of itself aggravating.
tions are deemed necessary to attract gold from foreign
Among 6,000 employees petty differences with countries, including the United States. Undoubtedly
superiors were constantly arising, and the men in there will be widespread withdrawal of funds from
sisted that all of these trifling affairs should be adjusted financial institutions to pay up taxes not enforceable
by the General Manager, or other persons high in during the absence of a Budget, and more or less
authority. Numerous complaints required so much tension may possibly arise. But all through the
of the time of high-salaried officials that they were political crisis the Bank of England has acted with farcompelled to neglect their duties to the corporation to seeing prudence and there is no reason to fear that it
the detriment of the service. The degree of intoler will fall short of its obvious duty at this juncture.
ance among the employees belonging to the union in One great function of the Central Institution is to
creased until insubordination was prevalent.
avert serious monetary disturbances, and unquestion
Instances illustrating the extent of the insubordi ably the Governors will recognize the responsibility
nation might be given without number. Motormen devolving upon them through the exigencies of an
disobeyed instructions and declared that they recog unparalleled political situation, for which the banks
nized no orders except those from their union. As a (or the money market) cannot be held accountable.
result, the union had actually taken the management The money that will pour into the Exchequer will in
of the property out of the hands of the company. The stantly become available for use; that is to say, it
officers could not possibly perform their duties. Con can be applied to paying off the large blocks of Treasury
ditions were thus intolerable, and the only remedy bills that will mature during the next few months—
left was to discharge the offenders. Numerous dis approximately $170,000,000 were outstanding last
charges for the reasons stated precipitated a strike, week. At all events the money is most unlikely to
and then the strikers demanded, as a condition of their be locked up unnecessarily. Meanwhile the 4%
return to work, that the company should treat only Bank rate is proving effective in maintaining firm
with the union of which the strikers were members. discounts and in drawing gold to London, although
This meant a “closed shop.” It was this demand the influx is offset to a certain extent by payments to
which prevented all possibility of arbitration.
South America for high-priced exports, including
Thinking to aid the striking trolleymen and to rubber. The situation, in view of political and
strengthen the cause of unionism, a sympathetic strike speculative possibilities, calls for careful handling
throughout the entire city of Philadelphia was called rather than for grave alarm. A ratio of reserve of
and many thousands of union men and women re better than 50% leaves little room for apprehension.
sponded to the call, remaining idle for a fortnight.
The experience of the Rapid Transit directors and
The phenomenal speculative boom on the London
officers with the union had been such that no influ Stock Exchange in shares of rubber and oil ventures
ence could make them waver from their determination has this week given signs of wavering, although efforts
not to yield to the demand for a “closed shop.” After have not been lacking to maintain buoyancy. Crude
a struggle of two months, the strike has been declared rubber, after rising to a new high price, 12s. lOd.
A pr . 23 1910.]
THE CHRONICLE
per pound on Tuesday, weakened on Wednesday,
and in so excited a market the incident caused nervous
ness which quickly sought expression in the form
of liquidation. On Thursday pressure was again felt
and prices declined, but aggressive support was ten
dered late in the afternoon and demoralization was
averted while yesterday there was a distinct re
covery. One redeeming feature is that these shares
are not carried over on margins but have to be paid for
at special settlements, thus limiting the possible dis
turbance in the money market should a collapse
come. The stream of new issues of rubber stock is, if
anything, broadening instead of drying up, and so far
there has been no lack of subscribers for offerings, irre
spective of the intrinsic Worth of the certificates. The
Stock Exchange’s machinery continues to be over
worked, and bank clearings are breaking all records—
during the first week in April they reached $1,990,
000,000. One prominent firm was compelled to give
notice to its clients that it could not accept airy new
orders for a whole fortnight. Perhaps the reactionary
tendencies already noted may be intensified by the
withdrawal from the banks of money needed to pay
taxes now that the Budget lias been read the first
time in the House of Commons. The setback, when it
does come, may be severe, although it should not be
overlooked that the market value of rubber, owing to
the enormous demand for it created by new industries,
is unlikely to recede to the low level of, say, a year ago,
when the United States and other large users were
still suffering from the depression brought on by the
financial upheaval of 1907.
The British Prime Minister and the Chancellor of the
Exchequer have succeeded in obtaining the support
of the Nationalists for the Budget which, it has been
formally voted, shall be disposed of by Wednesday
next, when an adjournment of the House of Commons
will be taken until May 26. The price paid for the
Irish party’s support has not been made known by
the Administration; according to William O’Brien,
leader of one faction of Irish members, Mr. LloydGeorge promised relief from the spirit, stamp and
succession duties, but when the former made this
assertion on the floor of the House it was warmly
denied by the Chancellor, who upbraided Mr. O’Brien
for making public an account of a private interview.
John Redmond, who leads the larger section of the
Nationalists, announced on Monday that his party
would cordially support the Government’s policy arid
the Budget “because financial injustice to Ireland was
only remediable by securing home rule, and the merits
or demerits of the Budget were trivial in comparison
with the abolition of the veto power of the House
of Lords.” Mr. Balfour, leader of the Opposition,
deprecated the Government’s bargaining with the
Nationalists and the manner in which the King’s name
had been dragged by the Ministers into the debate.
Premier Asquith closed the debate by denying em
phatically that there had been any bargaining with
Mr. Redmond. According to present plans, therefore,
the long-delayed Budget of Mr. David Lloyd-George,
which has caused such a turmoil in Great Britain and
affected to some extent all important financial centres,
will be again passed by a substantial majority by the
Commons; the first reading was agreed to on Wednes
day.
1071
The understanding is that the House of Lords will
not refuse to pass the measure; it will be recalled that
the Upper Chamber did not “reject” the Budget,
according to the language of its resolution, but merely
caused it to be submitted to the electorate for approval
or disapproval. Other issues were brought forward
during the campaign, and no clear-cut verdict on the
Budget could be expressed; yet the fact that a majority
of the elected representatives of the new Parliament
support the bill may be accepted by the Lords as
warranting them in allowing it to become a law
without further delay. When the resolutions stripping
the Lords of their powers are laid before the Second
Chamber, a different course will in all probability be
followed. However, it is announced that the Com
mons will not be able to take up these reso utions
until June and that no appeal to the country will be
possible before the middle of July.
New York has been called upon this week not only
to continue the shipment of gold direct to London, but
has had to remit quite freely for London account to
Brazil. On Wednesday a total of $6,130,000, all in
coin, left New York; London took $3,100,000 and
Brazil $3,030,000. On Thursday $3,000,000 more
was engaged for London, of which $1,000,000, it can
be officially stated, was sent to the London County &
Westminster Bank, one of England’s leading jointstock banks, and noted for its initiative in building
up independent metallic reserves. Yesterday $1,500,
000 was engaged, partly for the same institution,
shipment to be made next Tuesday. The outflow to
London has been brought about by conditions we have
already described; but the shipments to Brazil form
a new feature and demand a word of explanation.
Brazil, as is well knowm, is an important producer
of rubber, and the extraordinary rise in the price
of that commodity in Europe has stimulated exports
thither, with the result that Brazil can command
payment in gold for her shipments. Rubber at ten
shillings per pound creates credits very rapidly, and in
the existing state of the exchanges at Rio de Janeiro
and New York, the London banks find it profitable to
send orders to have gold forwarded to Brazil from this
centre. In its ultimate effect the transaction is tanta
mount to shipping the metal across the Atlantic, since
the movement cancels our indebtedness to Europe just
as if the gold were consigned to London. As a matter
of fact, London has also been remitting gold to Brazil
this week, as our special cable from London shows,
while yesterday Paris forwarded $1,250,000 to the
same country.
The banking position abroad shows gratifying im
provement. The Bank of England’s reserves have
risen in two weeks from below 40% to above 50%, or
from an uncomfortably low level to an unusually high
one for the third week in April. The total reserve
this week has increased fully $10,000,000, including
$9,535,000 in bullion, owing chiefly to receipts of the
precious metal from New York, supplemented by
arrivals from Germany and small amounts from other
countries. Thursday’s weekly statement also re
vealed substantial contraction in loans and liabilities;
“other securities” (loans) have fallen $7,465,000,
Government securities $18,275,000, public deposits
$6,775,000 and other deposits $8,960,000. The Bank,
1072
THE CHRONICLE
however, is not expected to relax its efforts to attract
gold until its supply of bullion is much nearer the
$200,000,000 mark that tradition has fixed as desira
ble at this season of the year. To-day, only $178,680,
000 is carried, against $197,140,000 one year ago and
$184,850,000 two years ago. Certain financial au
thorities in England deprecate the offering of special
inducements to attract gold from New York, now that
supplies can be secured elsewhere, the theory being
that the more London takes from us now, the heavier
will be the return flow in the autumn, when our new
grain and cotton crops will be exported in large quan
tity. The only comment that need be made from the
New York point of view is that no objection whatever
is raised here to the action either of the Bank of Eng
land or the importing joint-stock bankers; money rates
are easy in this country, we are merely paying off bills
standing against us, and when we need gold to move
our crops in the fall London will be the better able to
spare it if she can in the meantime build up her own
position so effectively as to dispel whatever uneasiness
may have been felt concerning her ability to tide over
a political crisis concurrent with abnormal speculative
activity.
The Imperial Bank of Germany this week reported
another large addition to its cash on hand, $8,180,000,
making a gain of $20,379,000 in a fortnight, while
during the same brief period note circulation has been
reduced $79,941,000 and discounts have decreased
$77,600,000. Private discounts have therefore re
mained easy at almost 1% below the Reichsbank’s
minimum of 4%. The Bank of France, not unex
pectedly, recorded on Thursday another moderate
loss ($2,100,000) in gold, but note circulation and disounts have fallen more than $17,000,000, so that the
private charge for accepting bills has this week fallen
)4 of 1%, to 2)4%. The only centre that has marked
up its rate materially this week is Amsterdam, where
the gold on hand has been levied upon by both London
and Berlin during the current month; one day the
charge was raised from 4)4% to 4)4%, and it is now
level with the Bank rate of 5%, giving rise to the pos
sibility of a return flow of gold.
Foreign discount rates have moved irregularly. At
London the greatly improved status of the Bank
of England has not deen followed by a decline in the
value of money, owing to preparations for the payment
of the income tax, so long delayed, to extensive
demands from the excited stock market and to
flotations of new securities, including rubber shares, on
a scale never before equaled. On the day the bank
statement was issued, indeed, bills could not be
placed, New York bankers discovered, under 3 15-16%,
the full 4% being asked in certain cases; whereas
earlier in the week 3jk£@3A
7 % was quoted. The
Paris rate, on the other hand, has weakened to 234%.
Berlin, too, is comfortably situated, the charge there
being only 3)4 %. Amsterdam, by way of contrast,
has soared from 334% a week ago to 5%, the official
figure, causing thereby so sharp a rise in guilders that
the question of gold exports to Holland is being
discussed as a not remote possibility. At Brussels
there has been a decline to 3)4 @3%%.
The Bank of England is now receiving the double
eagles shipped from New York earlier in the month
as well as gold from other points, including a small
[V O L . L X X X X .
amount of the $1,750,000 new gold offered in the open
market on Monday; India, as is now customary, took
the remainder at the Mint price, 77s. 9d. According
to our special cable from London, the proportion of
reserve to liabilities rose from 43.95% last week to
50.68% this week; the Bank gained £1,907,440 bullion
during the week and held £35,736,927 at the close
of the week. Our correspondent further advises us
that there were heavy purchases in the open market,
largely of United States gold coin. Other imports
were moderate and mainly from Germany. Exports
of fair volume were almost wholly to Brazil. The
details of the movement into and out of the Bank were
as follows: Imports, £2,537,000 (of which £306,000
from Germany and £49,000 from various countries, and
£2,182,000 bought in the open market, including
£1,879,000 United States gold coin); exports, £520,000
(of which £490,000 to Brazil, £20,000 to India and
£10,000 earmarked Straits Settlements), and ship
ments of £110,000 net to the interior of Great Britain.
A marked cessation in the demand for. money, and a
consequent decline in rates for all maturities, can be
adequately explained. Saturday’s bank statement
disclosed an increase in actual surplus reserve of
$8,478,300, or more than the total surplus in the
previous week; speculation on the Stock Exchange,
which, it was thought, would broaden, has dwindled
to mid-summer proportions, thus relieving brokers
from the necessity of borrowing; commercial paper is
not being drawn in average quantity, trade conditions
having become more irregular; the funds sent to the
country for the planting season are finding their way
back to New York in considerable quantity; the lack
of investment demand has caused underwriters to
withhold the flotation of large new bond issues, &c.
Money brokers complain that when asked to place
funds for banks, the task is often impossible; in fact,
the whole money market has undergone change since
the first of the month. Yet, certain influential!inter
ests do not share the view that money is not worth
prevailing rates. Those of this opinion lay stress upon
the returns issued this week by the Comptroller of the
Currency, which show that from Jan. 31 to March 29
last national bank loans and discounts increased
no less than $202,589,719, whereas specie and legal
tenders increased only $1,816,717; as compared with
April 28 1909, the loans and discounts have expanded
$468,982,325 in face of a cash loss of $43,661,421,
deposits during the same period having gained $401,
791,172. The New York institutions are less respon
sible than the out-of-town banks for this remarkable
increase in liabilities without a corresponding gain in
reserves. These figures partly explain the aversion
of several very prominent interests to locking up their
available funds for a long period at current rates.
The range was lowered on Thursday to the following
basis after the undertone had gradually weakened from
the opening of the week: S ixty days, 3)4% ; 90 days,
324%; four, five and six months, 4% ; over-the-year,
4)4 @424%. The only activity noted has been for
nine-months’ loans, which, of course, do not mature
until after the Jan. 1 requirements have been met; im
portant borrowers have been offering, sometimes
without success, 4)4% f°r this class of accommoda
tion. Call money, which last week touched 334%
daily, has not once exceeded 3% this week, that being
A p r . 23 1910. i
THE CHRONICLE
the daily maximum, while the ruling rate, which was
334% a week ago, has been 2% % . Yesterday the
range was 2%% to 3%, the last loan being made
at 2%%. Commercial paper has been featureless.
Drawers of the highest standing are not issuing bills in
considerable quantity, and as money has been more
plentiful, the rate for the choicest four to six months
single names has fallen to 4% @4% % , with 5@5%%
quoted for less attractive paper. Sixty to ninety
days’ endorsed bills receivable are quoted 434 @4% %.
1073
but there was a partial recovery on Tuesday, despite
the announcement of rather extensive gold engage
ments; 60 days closed at 4 8435 @4 8445, demand at
4 8770@4 8780 and cable transfers at 4 8810@4 8815.
On Wednesday trading was very dull at virtually un
changed quotations. More gold ($3,000,000)* was
taken on Thursday, yet rates finished steady at 4 8430
@4 8440 for 60 days, 4 8770@4 8775 for demand and
4 8805@4 8815 for cable transfers. On Friday rates
advanced 5 points for demand and cable transfers.
* tfj
---------Ihe following shows daily posted rates for sterling
Foreign exchange rates have not weakened materi exchange by some of the leading drawers:
ally under the influence of extensive gold shipments,
F r i.,
M o n .,
T u e s .,
and as discount rates in London are a full 1% above
W e d . , T h u r s ., F r i.,
A p r . 15 A p r . 18 A p r . 19 A p r . 20 A p r . 21 A p r . 22
the call-money rate in New York, the outflow of gold B ro w n
/ 60 d a y s 4 85
85
85
85
85
85
A
88 A
88 >2
88 A
88 A
thither may continue, especially as the Bank of Eng K idB droes.r, <PfceCao- ------------- 1JS60i g dhat y. .s 44 8858 ^ 88
85
85
85
85
85
b o d y & C o ------------- 1S i g h t . . 1 88 A
88 A
88 A
88 A
88 A
88 A
land is still paying a high price for double-eagles. A B a n k of B ritis h
/ 60 d a y s 4 85
85
85
85
85
85
N o rth A m e ric a ____( S i g h t . . 4 88'A
88^
88 A
88 A
88 A
88 A
/ 6 0 d a y s 4 85
rise in the Dutch discount rate to 5% was immediately B a n k o f
85
85
85
85
85
M o n tr e a l.....................( S i g h t . . 4 88
88
88
88
88
88
C
a
n
a
d
ia
n
B
a
n
k
|6
0
d
a
y
s
4
84
A
84
A
reflected by a movement in guilders to near the level o f C o m m e rc e .............( S i g h t ..
84 A
84 A
84 A
84 A
4 88'A
88 A
88 A
88 A
88 A
88 A
e lb a c h , Ick e l160 d a y s 4 85
85
85
85
85
85
on which gold can be profitably sent to Amsterdam H ehide lm
e r & C o ............... ( S ig h t. - 4 88 A
88 A
88 A
88 A
88 A
88 A
85
85
85
85
85
from New York and London, but no shipments of L aFz ar rde r c s .........................((6S ig0 dh at-y-s 44 84%
88
88
8 8A
88
88
88
ank
J 6 0 d a y s 4 85
85
85
85
85
85
moment are anticipated. Two countries have re M eofrcCh aa nn tsa d’ aB........
............( S ig h t - . 4 88
88 A
88 A
88 A
88 A
88 A
ceived the precious metal from New York this week,
namely England and Brazil, the total involved be
The market closed on Friday at 4 8430@4 8440 for
ing $9,130,000, while $1,500,000 more was engaged 60 days, 4 8775 @4 8780 for demand and 4 8810@
yesterday for shipment to London on Tuesday 4 8820 for cables. Commercial on hanks was quoted
next. On Wednesday shipments were made as at 4 84@4 8410 and documents for payment at
follows: To London, $2,500,000 by Kidder, Pea 4 83% @4 84%. Cotton for payment ranged from
body & Co.; $500,000 by Knauth, Nachod & Kuhne, 4 83%@4 83% and grain for payment from 4 84%
and $100,000 by Heidelbach, Ickelheimer & Co., a @4 84%.
total of $3,100,000. To Brazil, $780,000 by the Na
tional Bank of Commerce; $1,000,000 by Crossman &
The following gives the week’s movement of money
Siclcken, and $1,250,000 by the Bank of New York. to and from the interior by the New York banks.
On the following day the National City Bank engaged
Received by
S h ip p e d by
N e t In te rio r
W eek en d in g A p r il 22 1910.
N . Y . B a n k s. N . Y . B a n k s.
$2,000,000 for shipment to London, while on the same
M o vem en t.
C u r r e n c y ________________
$1 2 ,4 5 0 ,0 0 0
G ain $ 7 ,9 9 0,000
day Heidelbach, Ickelheimer & Co. engaged $1,000,000 G old ____________________ _____
2 ,6 5 0 ,0 0 0
G ain
1,5 1 0,000
for shipment to the London County & Westminster
S 15.100.000
S 5 ,6 0 0,000 G ain $ 9 ,5 0 0 ,0 0 0
Bank, which bank will also receive part of yesterday’s
With the Sub-Treasury operations and gold exports
engagement by that firm. To-day’s steamer, the
“ New York,” is not a fast one; it is not scheduled to the result is as follows.
reach London until May 2, so that shippers of gold may
In to
O ut o f
N e t Change in
W eek end in g A p r il 22 1910.
B a n k s.
B a n k s.
resume their activities next week, when somewhat
B a n k H o ld in g s.
B
a
n
k
s
’
in
te
rio
r
m
o
v
e
m
e
n
t,
a
s
a
b
o
v
e
.
$ 1 5 ,1 0 0 ,0 0 0
$ 5 ,6 0 0 ,0 0 0 G a in $ 9 ,5 0 0,000
better facilities will be available.
S u b -T re a s . o p e r. a n d go ld e x p o r t s ..
3 8 ,2 0 0 ,0 0 0
48,8 0 0 ,0 0 0 Loss 1 0 ,6 0 0,000
Events have tended to justify the stand taken by
$ 5 3 ,3 0 0 ,0 0 0
$5 4 ,4 0 0 ,0 0 0 Loss $ 1 ,1 0 0 ,0 0 0
foreign exchange experts concerning commodity prices,
The following table indicates the amount of bullion
and a freer movement of merchandise to Europe. This
week there has been an almost general, if not very in the principal European banks.
emphatic, decline in the prices of our staple commodi
A p r il 2 i 1910.
A p r il 22 1909.
ties, and although cotton is still too dear to encourage B a n k s o f Gold.
S ilv e r.
T o ta l.
G old.
To tal.
S ilv e r .
normal consumption abroad, there is a growing feeling
£
£
£
£
£
£
35,7 3 6 ,9 2 7
35,7 3 6 ,9 2 7 39,4 2 7 ,7 9 3
3 9 ,4 2 7,793
that maximum prices cannot be long maintained. EF rnagnl ac ne d__- . 138,038,400
34,9 9 0 ,6 8 0 173,029,080 143.938.000 3 5 ,5 5 9 ,6 6 6 1 7 9.497.000
G e rm a n y . 41,4 3 5 ,2 0 0 14,339,200 55,7 7 4 ,4 0 0 3 9 ,6 6 7 ,8 0 0 13,026,850 5 2 ,6 9 4,650
European investors have not been buying American R u ssia a . 140,597,006 8 .4 0 2 .0 0 0 148,999,000 122.879.000 7 .8 7 9 .0 0 0 130.7 5 8.000
A u s.-IIu n b 5 5 .6 6 3 .0 0 0 13.542.000 69.2 0 5 .0 0 0 53.3 8 3 .0 0 0 1 2 .647.000 6 6 .0 3 0 .0 0 0
16.200.000 30.9 8 3 .0 0 0 47.1 8 3 .0 0 0 15.896.000 3 2 .4 3 1 .0 0 0 4 8 .3 2 7 .0 0 0
bonds, while purchases of short-term notes have been SI tap layi n d-----_ _ . 3 8 ,9 1 2 ,0 0 0
4.0 2 6 .0 0 0 4 2 .9 3 8 .0 0 0 3 8 .1 3 2 .0 0 0 4 .7 0 0 .0 0 0 4 2 .8 3 2 .0 0 0
th ’Ian d s 8 .1 9 5 .0 0 0 2 .8 5 5 .0 0 0 11.050.000
9 ,5 7 9 ,6 0 0 3 .8 9 7 .0 0 0 13,4 7 6,600
in part offset by sales of stock on balance almost daily. NN ae t.B
e lg .d
4 ,254,667
2,1 2 7 ,3 3 3
6 .3 8 2 .0 0 0
4 ,209,333
2 ,1 0 4 ,6 6 7
6 .3 1 4 .0 0 0
en . .
4.4 6 2 .0 0 0
4.4 6 2 .0 0 0
4 .3 4 2 .0 0 0
4 .3 4 2 .0 0 0
Less difficulty has consequently been experienced in SS ww ed
itz ’la n d
5.3 0 0 .0 0 0
5.3 0 0 .0 0 0
4 ,8 2 1 ,2 0 0
4 .S 2 1.200
1.733.000
1.627.000
1 .6 2 7.000
disposing of the bills drawn against the gold sent to N o r w a y . . 1.733.000
490,527,194 111,265,213 601,7 9 2 ,4 0 7 477,9 0 2 ,5 2 6 II, 2,2 4 4 ,5 1 7 590,1 4 7,243
Europe, while, of course, exchange is not apprecia TP rco tav l.wweek
eek 487,450,804 110,276,013 597,726,817 174,065,467 I I I ,
588757,543
,9 4 3,010
bly affected by the triangular operation whereby Lon
a T h e to ta l of go ld In th e B a n k of R u s s ia In clu d e s th e b a la n c e h e ld a b ro a d — t h a t
don sends gold to South America via New York corre Is. th e a m o u n t h e ld fo r R u s s ia n a c c o u n t In o t h e r C o n tin e n ta l b a n k s . T h e p ro p o r
h e ld a n d c o n s e q u e n tly d u p lic a te d In th e a b o v e s ta te m e n t Is a b o u t o n e -s ix th
spondents. Efforts to revive active trading in future oftio nth so
e to ta l th is y e a r, a g a in s t a b o u t o n e -n in th a y e a r ag o .
bills have not been quite successful, as dealers regard b T h e A u s tro -H u n g a ria n B a n k S ta te m e n t Is n o w Issu ed In K ro n e n a n d H e lle r
In ste a d of G u ld e n a n d K r e u tz e r . T h e r e d u c tio n of th e fo rm e r c u rre n c y to s te r lin g
the outlook for exchange as uncertain.
P o u n d s w as b y co n sid e rin g th e G u ld e n to h a v e th e v a lu e of 8 0 c e n ts . A s th *
Compared with Friday of last week, sterling ex K ro n e n h a s re a lly n o g r e a te r v a lu e t h a n 20 c e n ts , o u r c a b le c o rre s p o n d e n t In L o n
d o n , In o rd e r to re d u c e K ro n e n to P o u n d s , h a s a lte re d th e b a s is of co n v e rsio n b y
change on Saturday was higher, on the basis of 4 8430 d iv id in g th e a m o u n t of K ro n e n b y 24 In ste a d of 20.
@4 8440 for 60 days, 4 8775 @4 8780 for demand and d T h e d iv isio n (b e tw e e n g o ld a n d sliv e r) g iv en In o u r ta b le of co in a n d b u llio n In
th e B a n k s of I ta ly a n d B e lg iu m Is m a d e fro m th e b e s t e s tim a te s w e a re a b le to o b ta in ;
4 8815@4 8820 for cable transfers. On Monday de It Is n o t c la im e d to b e a c c u r a te , a s th e b a n k s m ak e n o d istin c tio n In th e ir w eek ly
ere ly r e p o rtin g th e to ta l go ld a n d sliv e r; b u t w e b eliev e th e d iv isio n wv
mand declined 10 points and cable transfers 5 points, rme atukren sIs, amclose
a p p ro x im a tio n .
THE CHRONICLE
1074
1
THE
POSTAL
S A V IN G S B IL L .
The situation in regard to the Postal Savings Bank
bill, which has been for many weeks under considera
tion in Congress, is in many respects so peculiar as to
make timely a brief review of the matter as it stands.
To us it appears as if Congress were wearied with the
bill and had, so to speak, amended it out of intelligible
shape. The usual result of such a process is failure
of the proposed legislation. Whether this is to be
the outcome or not, the history of the proposed
measure is interesting.
The plan for establishing savings banks under
Government supervision, through the Post Office,
was distinctly favored in all the national party plat
forms of 1908. To this fact, and to this alone, are due
the persistent efforts to enact the measure in a Congress
which has certainly shown itself unenthusiastic over
the project. Speaking generally, the strongest argu
ment for the postal savings bank was to provide
facilities for this sort of deposits in sparsely settled
communities which were not well served by ordinary
deposit banks, and which were not served at all by
savings institutions as known in the East or in the
Middle West. Much has been made of the influence
which such institutions might have in the way of draw
ing out hoarded money for purposes of the general
market. The example of foreign postal savings banks
was cited with some effect; though this, we imagine,
was an argument which did not apply convincingly,
because of the radical difference of conditions in the
communities which our own plan was to serve, as com
pared with those in communities served by the foreign
postal banks.
Undoubtedly the primary purpose of the postal
savings project is to enlist the Government’s good
offices in the investment of savings for its poor people.
This, on its face, might seem to be simple enough,
however objectionable many people might find the
principle involved. But when the promoters of the
law came down to details, they encountered difficulties
at almost every step. The two practical questions
involved were, first, how the deposited funds should
be invested so as to yield interest to depositors; second,
what should be the nature of the arrangements made
between the postal savings banks and their de
positors.
In Europe, bonds of the Government under whose
auspices the postal savings plan is conducted have
been uniformly adopted as the field for investment
of such deposits. The idea appealed to many people
here. It was argued that our Government, with its
Panama Canal and other projects, must be a very
extensive borrower in the coming years, and that it
had no right to neglect the creation of so promising
a market. It was also argued, with considerable force,
that if use of Government bonds as collateral for bank
note issues is at some future time to cease, then the
demand for investment of postal savings funds would
avert the heavy fall in the market for Government
issues which might otherwise be expected.
But the plan for investment in Government bonds
at once encountered opposition. It was contended
that such a field of investment would be irregular and
uncertain; also, a singularly strong local feeling devel
oped that money thus deposited by a given community
ought, somehow or other, to be kept in that com
[V O L . L X X X X .
munity. Therefore Senator Carter’s original postal
savings bill made no provision whatever for investment
in Government bonds, but simply provided for the re
deposit of the trust funds in banks of the vicinity,
those banks to pay 2% % for use of the money, the sav
ings depositors to get 2% on their deposits and the
^ of 1% to be used to meet expense of administration.
The difficulty in the way of this scheme, standing
alone, was mainly doubt as to whether banks could
at all times be discovered with whom relations on such
a scale, in the communities chiefly interested, could
prudently be established. Some hint was made in
the bill that special security or guaranties would be
required against these deposits from the banks re
ceiving them. But since the whole purport of the
measure seemed to be to prevent the shipment of such
money to a distant community, the question became
highly pertinent how the postal savings bank was to
be assured that deposit banks in the neighborhood
could pay even that rate of interest unless they re
served the right to transfer the deposits to the larger
financial centres of the East.
Partly because of these conditions, but largely also
because of the arguments already cited regarding the
market for Government bonds, the bill was amended
in the Senate with a view to investment of postal
savings in Government bonds. The discussion which
ended in the adoption of this amendment was most
curious. Senator Root argued that the whole law
would be unconstitutional unless use of post offices
as savings institutions were made an incidental func
tion of the Government’s borrowing powers. With a
view to this objection, which was, however, widely
disputed, the curious provision was incorporated in the
bill, after providing for deposit in local banks, that
“ when, in the judgment of the President, war or any
other exigency involving the credit of the Government
so requires, the board of trustees may withdraw all or
any part of said funds and invest the same in bonds
or other securities of the United States.”
In this shape the bill came from the Senate to the
House. But the House has been struggling with per
plexities ever since, as to the constitutionality of the
bill and as to the wisdom of its somewhat confusing
provisions. The legislators appear to have begun to
see, for one thing, that the entire question of using
Government bonds for investment of such savings
depends on the existence of such bonds at a higher
rate of interest than now prevails, and at a price
which should be only a trifle over par. There are no
such bonds as yet in existence, and the question of
how they shall be issued is itself in a decidedly un
settled stage.
This would create a somewhat odd situation if the
postal savings bill were passed in advance of
decision on the bond question itself. But beyond
this there exists a more serious objection; namely, that
to bring the savings deposit fund at present into the
market for Government bonds on an extensive scale
would go far to defeat one very important purpose
argued for that use of them. If the postal savings
bank were to replace the national banks as holders of
these bonds, in the supposed event of a change in the
system of collateral for bank-note currency, then it
would seem that the two measures ought to go into
effect simultaneously. To introduce the demand for
the postal banks while the national banks are still
A p r . 23 1010.]
THE CHRONICLE
required to retain their Government bonds against
outstanding circulation would merely make a bad
matter very decidedly worse. Whether it would not
also serve to stimulate public extravagance, through
the notion which might prevail that an unlimited field
for credit had been opened to the Government, is
another question which merits thought.
We have said nothing as yet of one other highly
practical objection to the measure as it stands. Con
sidering that the bill creates a financial establishment
of some intricacy, and that it enters on a field where
relations between depositors and depositories have
always been most carefully outlined in the statutes,
it is a very extraordinary fact that no clear provision
is made in the Senate bill regarding such questions as
rights of withdrawal of funds by individual depositors.
A supervising board of trustees was provided for, to be
made up of the Postmaster-General, the Secretary of
the Treasury and the Attorney-General, and when
Senators hostile to the bill’s provisions asked what
was to be done in regard to the very important detail
just referred to, and in regard to others like it, the
answer was that the board of trustees would draw up
the necessary regulations. We doubt if ever before
in our history a measure involving, by the assertion of
its authors, the use and disposition of so enormous
sums of money, has been launched in so haphazard a
manner. For ourselves, we cannot believe that any
law of such importance can be enacted with its ma
chinery left in such complete uncertainty.
T IIE IN T E R N A T IO N A L H A R V E S T E R C O M P A N Y .
The report of the International Harvester Co. for
the calendar year 1909 in the results disclosed marks
another step forward in the really noteworthy growth
and development of this property. The company,
as is well known, is a consolidation of several concerns
manufacturing agricultural machinery and imple
ments, among others the McCormick Harvesting Ma
chine Co. and the Deering Harvester Co. In its or
ganization some distinct features or rules were ob
served which have played an important part in its
prosperity. It was created without any bonded debt
and no bonds have ever been issued by it. Further
more every dollar of the share capital represents either
a dollar of actual cash paid in, or a dollar of property
acquired at a low basis of valuation without any allow
ance for good-will or patents.
It is also to be noted that the company’s entire sur
plus net earnings (except the amount paid in dividends
on the preferred shares), for the whole of the period
from the date of incorporation in October 1902 to
Dec. 31 1909, has been employed either for the exten
sion of the properties and plants or to add to current
working capital. No dividends on the common stock
have been declared until the present year, and the fact
that surplus earnings had thus been accumulated
formed the basis of the 33 1-3% stock dividend which
has just been made on the common stock. The com
pany was formed with $120,000,000 stock, of which
$60,000,000 was paid for in cash at par and the re
maining $60,000,000 was issued for the real estate,
plants and physical inventories acquired at the or
ganization, and which were valued by independent
appraisers in excess of that amount, excluding, as
already said, any allowance for good-will or patents.
1075
As a matter of fact, on the basis of the appraisements a
surplus of $7,076,229 existed at the time of organiza
tion on Oct. 1 1902 by reason of the excess of the
appraised value of the physical properties acquired
(including inventories) over the $60,000,000 par value
of capital stock issued therefor. The whole of this
surplus has since been charged off. In 1907 the origi
nal $120,000,000 stock was divided into $60,000,000
accumulative preferred stock and $60,000,000 com
mon stock. The present year, as already stated, a
33 1-3% dividend was declared on the $60,000,000
common stock, payable in stock of the same kind.
This called for the issue of $20,000,000 new common
stock, making the capitalization at this date $140,
000,000, consisting of $80,000,000 common and $60,
000,000 preferred stock. Cash dividends have now
been begun on the enlarged amount of common stock
at the rate of 4% per annum.
The J. P. Morgan interests are dominant in the
property and its affairs are managed in the same
model way as those of the United States Steel Corpora
tion, in which the same interests are in control. The
company is extending its business in all parts of the
world. It has distributing agencies in practically all
civilized portions of the globe and the distinctive
feature of the 1909 report is the further growth in the
volume of sales. In 1908, at a time of unparalleled
business depression in the United States, the gross
amount of its sales was reduced in only relatively small
amount (hardly more than 7%), and in 1909, with
activity again prevailing in the industrial world,the
increase was of marked proportions. In brief, the
total of the sales in 1909 was $86,614,549, as against
$72,541,771 in 1908 and $78,206,890 in 1907. In
1905 the sales amounted to only $55,687,978; the in
crease from this total to $86,614,549 in 1909 indicates
an expansion in four years of considerably over 50%.
The growth has followed in considerable measure
from the circumstance that in addition to the manu
facture of harvester machinery, tillage implements
and binder twine, the company has gone into new and
allied lines, such as the manufacture of wagons,
manure-spreaders, gasoline engines, cream separators,
auto-buggies and tractors. The sales of these new
lines in 1909 alone increased 45%, reaching $20,720,
185, against $14,288,588 in 1908 and $13,881,479 in
1907. The report tells us that the business in these
lines is becoming firmly established and that the
steadily increasing demands for the company’s pro
ducts in foreign countries makes that trade a stable
and permanent factor in the total earnings.
In the net earnings the rate of increase has been
even more marked. In 1908 there had been a
gain in net, even under somewhat of a decline in
gross receipts, the explanation, of course, being found
in advancing efficiency of management. In 1909, with
gross sales once more increasing, the addition to net
was very large. In brief, total net in 1909
reached no less than $19,225,329, as against only
$12,930,377 in 1908, $11,228,317 in 1907 and $10,
007,987 in 1906. It thus appears that in three years
the net earnings have been enlarged over 90%.
Economies in manufacture and distribution, coinci
dent with the growth of business, account for the
greatly improved net result. There has been, we need
hardly say, no reduction in wages of employees.
With net of $19,225,329, the appropriations for the
107(5
THE CHRONICLE
various funds and for various reserves aggregated
$3,774,533, leaving $15,450,796, of which $558,056
went to meet the interest paid on purchase money
obligations and current loans. Net profits, there
fore, over and above these deductions were $14,892,
740. Allowing $4,200,000 for the 7% dividend on the
preferred stock, this left $10,692,740, equal to 13%
on even the enlarged amount of common stock (after
the stock dividend) at $80,000,000.
At the close of 1908 the accumulated surplus had
stood at $16,691,990. Adding the $10,692,740 of
undivided profits of 1909, the total of accumulated
surplus was raised to $27,384,730. This latter was
made the basis of the $20,000,000 stock dividend.
Even after allowing for this $20,000,000 paid in stock,
a surplus of $7,384,730 remains.
What disposition has been made of the cash repre
sented by the $27,384,730 of accumulated surplus will
appear from the fact that between Oct. 1 1902 and
Dec. 31 1909 $22,000,000 of cash was expended for
permanent property, additional plant, buildings and
equipment. At the same time, the working capital
of the company, representing the excess of current
assets (cash, inventories and receivables) over current
liabilities, which on Oct. 1 1902 was $75,805,000, has
been increased to $90,823,000 Dec. 31 1909. It is
pointed out in the report that the character of the
company’s business requires that large stocks of har
vesting machinery and farm implements be carried
at convenient locations throughout the world in order
to meet the urgent local requirements of varying crop
conditions. Furthermore, the production of harvest
ing machinery is in process of manufacture for many
months ahead of the selling seasons, which are limited
to the time immediately preceding the harvest, and
are necessarily short. The company also makes it a
practice to extend credit to farmers on certain lines
of its goods, so as to enable them to buy machinery
for prompt use that otherwise they might not be in a
position to purchase. All these circumstances make
the working-capital requirements of the company large,
and of course these requirements still further expand
as the business of the company is extended. It is a
strong point in the condition of the company that it
was so organized as to provide this capital and that,
through prudent management, the amount has been
further added to by the application of surplus earnings.
At the close of 1909 the company had almost $91,000,
000 of working capital, represented by current assets.
As stated at the outset, no bonds have ever been put out.
As in the case of the U. S. Steel Corporation, a fea
ture in the administration of the property is the large
reserves established for various purposes and provided
out of earnings. For plant depreciation and extin
guishment an aggregate of $6,510,674 had been pro
vided up to the close of 1909; for special maintenance,
$1,038,741; for collection expenses on receivables,
$800,000; besides which $1,093,461 has been con
tributed to the insurance fund, $502,654 to the pen
sion fund and $1,250,000 to the contingent fund, mak
ing $11,195,531 altogether. All this was taken from
earnings before arriving at the surplus, and therefore
the amount exists independent of the $27,384,730
accumulated surplus to which we have referred above.
Schemes for promoting the welfare of employees
have been carried further by the International Har
vester Co. than by perhaps any other large industrial
[V O L . LX X X X
concern. There are two plans of profit-sharing in
operation with the employees. There is a pension fund
in regular working order. Then there is also an em
ployees’ benefit association, which is now in suc
cessful operation. The object of this association is to
provide the members with a certain income when sick
or when disabled by accident, either on or off duty,
and to pay to their families certain definite sums in
case of death. Last year, moreover, an advisory board
on welfare was created whose object it is to reduce the
number of accidents at the plants. The protection
and safeguarding of machinery and equipment is an
important part of the work of this advisory board.
Finally, the officers of the company have been giving
careful attention to the subject of employers’ liability
and compensation to employees for industrial acci
dents, with a view to adopting a plan which would be
fair to both the company and the employee. The
report bearing date April 9 states that substantia
progress has been made in the development of the idea
and the hope is expressed that a comprehensive and
satisfactory plan can soon be put in operation. From
newspaper dispatches it appears that this has since
been done. All these efforts on behalf of the employees
deserve commendation, especially as the number of
such employees is large, the average for 1909 having
been 28,493. The amounts paid in salaries and wages
to this large body, including the contributions to the
various pension and benefit funds, aggregated $22,
857,129.
A feature of the company’s operations in 1909 was
the extension of the foreign manufacturing plants.
New works were established at Croix, France, and
Neuss, Germany, and both these plants began the
manufacture of machinery in March of the present
year. We notice, too, that steps have been taken to
insure to the company the necessary timber supplies
for the future. One step in this direction was the
purchase of the rights to a considerable tract of oak
timber near Huttig, Arkansas, where a sawmill is
now under construction which is expected to be ready
for operation about the 1st of August.
R A IL R O A D
GROSS
AN D
NET
E A R N IN G S
FOR
FEBRUARY.
Last week we published an advance tabulation of
the gross earnings of certain railroads for the month of
March. To-day we present completed returns of both
gross and net earnings for the month of February,
covering practically the entire railroad mileage of the
country. The gratifying feature in this compilation
for February is that it shows that not only are gross
earnings expanding, but net earnings also are record
ing improvement. The fact is an important one, be
cause capital outlays on the properties are all the time
increasing (to meet the requirements for new facilities),
and latterly have been growing at an exceptional rate,
as is evident from the large new loan issues that have
been brought out from week to week—some at rather
high rates of interest. Net earnings must necessarily
increase in order that the roads may earn a return on
these new capital outlays. Obviously, if the improve
ment in net earnings were not sufficient to warrant
such return, the outlook for railroad properties in this
country would be quite discouraging.
For a time during the early part of the winter net
earnings made relatively poor comparisons, speaking
THE CHRONICLE
A p r . 23 1910.]
of the roads collectively, and phenomenally bad ex
hibits in the case of certain large systems located in
the western part of the country, bad weather and
strikes being the chief causes of this. Fortunately,
this state of things was of briefer duration than at one
time seemed likely. Perhaps the best way to indicate
the change for the better which has occurred is to take
the results as now disclosed for February and contrast
them with the corresponding results for the two months
immediately preceding. For December, it will perhaps
be remembered, the showing was particularly unfavor
able. For that month our compilations revealed an
actual decrease in net earnings, it having been the
only month of 1909 distinguished in that way. The
gain in gross earnings then was also on a reduced scale.
In brief, there was an increase of only $13,925,317 in
gross, or 6.83%, attended by a contraction of $1,302,
623 in net earnings. It was feared that the compari
son for January would not be much better, as operat
ing cost kept high by reason of severe weather condi
tions. As it happened, though, the showing for Janu
ary proved much better than that for December. The
increase in gross earnings reached as much as $26,
424,228, or over 15%, and although $20,093,421 of
this was absorbed by augmented operating expenses,
that still left an increase of $6,330,807 in net earnings.
Now, for February, the comparisons are yet better.
The addition to gross was even larger than for January,
reaching $27,377,858, or 15.85%, while the improve
ment in net amounts to $7,293,722, or 14.91%. Of
course these figures are for a period antedating most
of the increases in wages which are now being made by
railroads nearly everywhere throughout the United
States.
As has been previously pointed out by us, our tabula
tions are now very comprehensive and cover each month
the preponderating portion of the railroad mileage of
the country. With the exception of a small amount of
road operating exclusively within State borders, all
the railroads of the United States are now obliged to
file monthly returns of their earnings and expenses
with the Inter-State Commerce Commission at Wash
ington, and these monthly statements, when rendered,
are placed upon the public records and are open for
general inspection and use. We have a transcript
made of each return as soon as it is placed upon the
public files. These transcripts come to us in large
number from day to day, and about the 20th of the
month we bring them all together in a special supple
ment called our “ Railway Earnings” Section. One of
the monthly numbers of the “ Railway Earnings”
Section accompanies to-day’s issue of the “ Chronicle,”
and in it the reader will find the February figures in
detail for every railroad which had submitted its re
turn for that month up to yesterday morning. The
summaries we present in this article are the aggregates
derived from the statements of these separate roads.
F ebruary (773 roads)—
1910.
M iles of r o a d ................................
231,296
G ross e a rn in g s .......................
3 2 00,129,088
O p e ra tin g e x p e n s e s .................. M 3 ,924,943
1909.
227,868
$ 172,751,230
123,840,807
N e t e a r n i n g s ______ _______ 3 50,204,145
$48,910,423
— Increase or D ecrease —
A m o u n t.
%
In c .
1.51
3 .428
In c . $27,3 7 7 ,8 5 8
15.85
In c . 2 0 ,0 8 4 ,1 36 16.21
In c .
S 7 ,293,722
14.91
It will be seen from the foregoing aggregates that
we have returns altogether for 773 roads, comprising
231,296 miles of line, or about 98% of the entire mile,
age of the country. As adding to the significance of
the present improvement in net, it should be noted
that in February last year results were also quite good,
1077
particularly in the case of the net, as railroad managers
then were straining every nerve to curtail their ex
penses. Our own compilations for February 1909,
covering 215,333 miles of road, showed $12,180,071
gain in gross and $11,549,651 gain in net. Somewhat
later the Inter-State Commerce Commission made pub"
lie its own aggregates, covering 233,486 miles, and the
results were substantially the same, showing $13,338,
338 increase in gross and $11,883,173 gain in net.
The year before (1908) there were losses of tremendous
magnitude. Thus, our compilation for February 1908
recorded a loss in gross of no less than $17,713,009, or
12.55%, and a loss in net of $8,764,602, or 25.10%.
Even this was merely the falling off as registered by
the roads contributing returns to our tables. On ac
count of the generally poor character of the exhibits,
some quite important roads withheld their figures at
that time, and our tables covered only 151,580 miles
of road, whereas the total railroad mileage was in the
neighborhood of 230,000 miles. We estimated at the
time that for the whole railroad system of the country
the loss in gross, as compared with the year preceding,
must have reached $26,000,000, and the loss in net
$13,000,000. In 1907, too, our February statement
had shown a loss in net, though gross earnings then
were still recording moderate gains.
In the following we give the February totals back
to 1896. For 1909 we use the Inter-State Commerce
totals, but for preceding years we give the results just
as registered by our own tables each year—a portion
of the railroad mileage of the country being always
unrepresented in the totals, owing to the refusal of
some of the roads to give out monthly figures for pub
lication.
N e t E a rn in g s.
Gross E a rn in g s.
Y ea r.
Y ear
G iven.
Feb.
1896 - 1897
1.898
1899 - 1900 - 1901 -1902
1903 - 1904
1905 . 1906 - 1907 . .
1908 - _
1909
1910 - -
S
4 5 ,9 8 9 ,6 2 9
5 1 ,3 3 8 ,3 4 3
5 9 ,0 7 0 ,7 9 8
5 8 ,5 5 7 ,3 9 5
72,7 3 8 ,1 5 7
86,3 5 7 ,5 8 3
89,0 2 8 ,6 8 7
91,3 6 0 ,5 S 0
9 9 ,5 4 3 ,3 0 6
95,1 8 4 ,2 8 3
120,728,671
123,920,810
123,389,288
174,423,831
2 0 0,129,088
Y ear
P receding.
S
41,6 0 3 ,8 1 3
5 1 ,056,357
51,904,681
5 9,965,541
5 9 ,5 6 6 ,1 6 2
7 8,722,604
8 4 ,8 5 9 ,7 4 5
80,8 9 8 ,6 1 6
96,1 3 0 ,7 9 1
9 8 ,4 8 7 ,8 4 8
9 5 ,6 2 5 ,9 3 8
115,123,660
141,102,297
161,085,493
1 7 2,751,230
Increase or
Decrease.
S
+ 4 ,385,816
—3 1 8,014
+ 7 ,166,117
— 1,408,146
+ 13,171,995
+ 7 ,6 3 4 ,9 7 9
+ 4 ,168,942
+ 10,461,964
+ 3 ,4 1 2 ,5 1 5
— 3 ,3 0 3 ,5 6 5
+ 2 5,102,733
+ 8 ,7 9 7 ,1 5 0
— 17,71.3,009
+ 13,3.38,338
+ 2 7 ,377,85S
Y ear
G iven.
In c re a se or
Y ear
P re c e d in g . D ecrease.
S
$
S
10,827,770 + 2 ,1 7 5 ,5 5 4
14,095,623 + 1 ,2 1 6,291
15,396,058 + 2 ,7 6 7 ,6 7 3
18,626,170 — 3 ,0 8 7 ,2 0 8
15,650,437 + 5 ,9 8 6 ,6 9 8
2.3,485,478 + 3 ,0 5 2 ,1 2 9
+ 55 5,168
2 5 ,9 2 3 ,7 8 6
+ 9 6 1 ,9 8 7
23,1 5 3 ,3 9 4
2 5 ,3 8 2 ,8 7 5 — 2 ,3 3 7 ,5 6 8
23,618,871 — 3 ,5 4 5 ,9 0 7
19,937,363 + 13,549,271
3 2 ,3 1 9 ,6 8 3 — 1 ,6 5 0,601
3 4 ,9 1 9 ,2 1 5 — 8 ,7 6 4 ,6 0 2
3 7 ,3 1 1 ,5 8 7 + 1 1 ,8 8 3,173
4 8 ,9 1 0 ,4 2 3 + 7 ,2 9 3 ,7 2 2
1.3,003,324
15,311,914
18,163,731
15,538,962
21,637,1.35
2 6 ,537,607
2 6 ,478,954
2 4 ,115,381
2.3,045,307
20,0 7 2 ,9 6 4
33,4 8 6 ,6 3 4
3 0 ,6 6 9 ,0 8 2
26,1 5 4 ,6 1 3
4 9 ,1 9 4 ,7 6 0
5 6 ,2 0 4 ,1 4 5
N o te .— In c lu d e s fo r F e b r u a r y , 130 ro ad s In 1896, 124 In 1897, 136 In 1898 ,125 In
1899, 123 In 1900, 131 In 1901, 117 In 1902, 106 In 1903, 104 In 1904, 98 In 1905,
101 In 1906, 91 In 1907, 103 in 1908, 689 In 1909 a n d 773 In 1910. N e ith e r th e
M exican ro a d s n o r th e c o a l-m in in g o p e ra tio n s o l th e a n th r a c ite coal ro ad s a r e In
clu d e d In a n y o t th e s e to ta ls .
The character of the returns of the separate roads
is much the same as that revealed by the general ag
gregates—that is, the gains are large and numerous,
both in gross and net. In this instance, however, there
are some conspicuous exceptions to the rule, at least
in the case of the net, and instead of increases we have
decreases of considerable magnitude. These decreases
in net are usually coincident with gains in gross, and
reflect the hard operating conditions that the roads in
certain sections of the country had to contend with be
cause of severe weather. It may be, too, that in view
of the continued expansion in gross revenues, some of
the roads are pursuing a more liberal policy in the
matter of disbursements for renewals and repairs.
At all events, the Atchison Topeka & Santa Fe, with
$677,845 gain in gross, has $530,029 loss in net; the
Northern Pacific, while having added $310,936 to
gross, falls $320,729 behind in net; the Rock Island,
with $297,868 gain in gross, has $259,993 loss in net;
1078
THE CHRONICLE
the St. Louis & San Francisco, with $101,310 increase
in gross, has $158,057 decrease in net. These are all
properties in the Southwest, in which part of the coun
try weather conditions appear to have been particu
larly adverse. In Northern New England unusual
snowfalls were encountered, and hence it is not sur
prising to find that the Boston & Maine also has suf
fered a shrinkage in net ($100,049), though the gross
was better than in the previous year by $133,407. The
New York New Haven & Hartford, running further
to the South, is able to show $114,958 improvement
in net, this being on $412,442 gain in gross.
As far as the great trunk lines are concerned, the
Pennsylvania has $3,886,950 increase in gross and
$1,364,367 increase in net, while the New York Central
has added $788,499 to gross and $344,649 to net.
These latter figures relate merely to the New York
Central proper. Including the various auxiliary and
controlled roads, like the Lake Shore, the Michigan
Central, the “ Big Four,” the “ Nickel Plate,” the Rut
land, &c., the whole going to form the New York Cen
tral s y s t e m , the result is an improvement of $2,885,283
in gross and of $1,359,204 in net. In the following we
show all the changes for the separate roads for amounts
in excess of $100,000, whether increases or decreases,
and in gross and net alike. There is only one road
having a decrease in gross above the limit, namely the
San Pedro Los Angeles & Salt Lake Ily.
P R IN C IP A L C H A N G E S IN Q R O SS E A R N IN G S IN F E B R U A R Y .
In creases. I
In crea ses.
P e n n s y l v a n i a -------------------i/$ 3 ,8 8 6 ,9 5 0 j C le v e C ln C h ic & S t L o u is
$ 2 8 6 ,8 6 3
S o u t h e r n P a c i f i c . ........... _ .
1 ,: 8 7 , u 4 1 ; E l g in J o l i e t & E a s t e r n . .
2 5 7 ,5 5 5
1 ,3 2 3 ,8 0 7 i E r ic
U n i o n P a c l l l c ____________
2 5 1 ,6 4 6
B a l t i m o r e & O h i o ----------1 ,2 1 0 ,9 3 5 1M ic h ig a n C e n t r a l
2 3 8 ,6 5 8
C h ic a g o B u r l & Q u i n c y . .
‘ & E a s te r n I llln o ls II
1....................
,1 7 1 ,1 7 3 C h ic
2 2 7 ,9 9 1
N Y C e n tra l & H u d R iv e r
a 7 8 8 ,4 9 9 'H o c k i n g V a l l e y .
2 2 4 ,9 3 9
A tc h T o p e k a & S a n ta F e
6 7 7 ,8 4 5 C h ic S t P a u l M in n & O . .
2 0 9 ,9 2 9
6 6 1 ,1 6 3 C h ic a g o G r e a t W e s t e r n . .
G r e a t N o r t h e r n _________
1 9 6 ,5 4 7
L a k e S h o r e & M ic h S o u t h
6 2 5 ,6 1 0 B u f f a lo R o c h & P l t t s b . .
1 8 4 ,8 7 4
C h ic a g o & N o r t h W e s t e r n
6 2 3 ,8 7 1 S e a b o a r d A i r L i n e _______
1 7 6 ,4 2 0
C h ic a g o M llw & S t P a u l .
6 0 2 .7 5 6 N Y C h ic a g o & S t L o u i s .
1 6 1 ,7 5 9
L o u i s v il le & N a s h v i l l e . .
5 9 6 .9 9 3 N o r t h e r n C e n t r a l ________
1 5 7 ,4 5 2
P h ila d e lp h ia & R e a d in g .
5 9 6 ,9 7 0 P e r e M a r q u e t t e ...................
1 5 0 ,8 0 6
M is s o u r i P a c l l l c _________
C 5 5 1 .3 2 3 C h ic a g o I n d i a n a & S o u t h
1 3 8 ,2 4 0
C h e s a p e a k e & O h i o ______
5 1 3 ,6 4 5 B o s t o n & M a in e . ................
1 3 3 ,4 0 7
N o r f o lk & W e s t e r n _____
4 8 9 .7 5 6 S p o k P o r t l a n d & S e a t t l e .
1 2 9 ,5 9 4
N Y N ew H a v e n & H a rtf
4 1 2 .4 4 2 C ln N e w O r l & T e x a s P a c
1 2 5 ,2 9 1
P itts b u rg h & L a k e E r ie .
4 0 4 .4 4 2 C o lo r a d o & S o u t h e r n ___
1 2 3 ,6 7 0
S o u t h e r n R a i l w a y _______
3 5 5 ,1 3 6 W is c o n s in C e n t r a l _______
1 1 6 ,5 8 3
D e n v e r & R io G r a n d e ___
3 4 1 ,4 0 8 C ln H a m i l t o n & D a y t o n .
1 1 0 ,2 5 7
D e l a w a r e I ,a c k & W e s t . .
3 3 7 ,9 1 8 K a n s a s C i ty S o u t h e r n ___
1 0 5 ,4 9 9
A t l a n t i c C o a s t L i n e ______
3 1 8 ,3 3 9 D e l a w a r e & H u d s o n ____
1 0 3 ,4 1 0
W a b a s h ___________________
3 1 1 ,2 6 1 S t L o u is & S a n F r a n c i s c o
1 0 1 ,3 1 0
N o r t h e r n P a c if i c ________
3 1 0 ,9 3 6
C e n t r a l o f N e w J e r s e y ___
3 0 6 ,9 7 6
R e p r e s e n t i n g 51 r o a d s
L e h i g h V a l l e y ____________
3 0 0 ,2 4 0
In o u r c o m p i l a t i o n ____ $ 2 3 ,8 0 5 ,6 3 6
R o c k I s l a n d ...........................
2 9 7 ,8 6 8
D ecrease.
I ll in o i s C e n t r a l ___________
2 8 7 ,6 3 3 S a n P e d r o L o s A n & S L .
$ 2 7 3 ,1 5 0
N o t e . — A ll t h e f ig u r e s In t h e a b o v e a r e o n t h e b a s is o f t h e r e t u r n s file d
w i t h t h e I n t e r - S t a t e C o m m e r c e C o m m is s io n . W h e r e , h o w e v e r , t h e s e
r e tu r n s d o n o t s h o w th e to ta l fo r a n y s y s te m , w e h a v e c o m b in e d th e
s e p a r a t e r o a d s s o a s t o m a k e t h e r e s u l t s c o n f o r m a s n e a r l y a s p o s s ib le to
t h o s e g i v e n In t h e s t a t e m e n t s f u r n i s h e d b y t h e c o m p a n i e s t h e m s e lv e s .
a T h e s e f ig u r e s c o v e r m e r e ly t h e o p e r a t i o n s o f t h e N e w Y o r k C e n t r a l
I ts e lf .
I n c l u d i n g t h e v a r i o u s a u x i l i a r y a n d c o n tr o l le d r o a d s , lik e t h e
M ic h ig a n C e n t r a l , t h e L a k e S h o r e , t h e " B i g F o u r , ” t h e “ N ic k e l P l a t e , ”
& c ., t h e w h o le g o in g t o f o r m t h e N e w Y o r k C e n t r a l S y s te m , t h e r e s u l t Is
a g a in o f $ 2 ,8 8 5 ,2 8 3 .
c T h e s e f ig u r e s a r e f u r n i s h e d b y t h e c o m p a n y .
V T h e s e f ig u r e s r e p r e s e n t t h e l in e s d i r e c t l y o p e r a t e d c a s t a n d w e s t o f
P i t t s b u r g h , E a s t e r n lin e s s h o w i n g $ 2 ,1 3 0 ,6 6 1 I n c r e a s e a n d t h e W e s t e r n
l in e s $ 1 ,7 5 6 ,2 8 9 .
F o r a ll l in e s o w n e d , l e a s e d , o p e r a t e d a n d c o n tro lle d t h e
r e s u l t f o r t h e m o n t h Is a g a in o f $ 4 ,4 4 3 ,5 1 7 .
P R I N C I P A L C H A N G E S I N NET E A R N I N G S I N F E B R U A R Y .
„
I n c r e a s e s .'
in c r e a s e s .
P e n n s y l v a n i a -------------------i /$ l ,3 6 4 , 3 6 7 B u f f a lo R o c h & P l t t s b . . . $ 1 2 1 ,1 3 9
S o u t h e r n P a c i f i c ----------------5 7 1 ,2 7 3 ' G r e a t N o r t h e r n
1 1 7 ,4 5 1
U n i o n P a c i f i c --------------------3 9 0 ,1 3 5 , N Y N e w H a v e n & H a r t f .
1 1 4 ,9 5 8
N Y C e n tra l & H o d R iv e r a 3 4 4 ,649 C o lo ra d o & S o u th e rn
1 1 4 ,5 6 1
C h ic a g o B u r l & Q u i n c y ___
3 0 1 , 3 3 9 1C le v e C ln C h ic & S t L o u is
1 1 3 ,4 3 8
L a k e S h o r e & M ic h S o u t h
2 7 7 , 9 9 7 1C h ic S t P a u l M in n & O .
1 1 1 ,6 1 2
P itts b u rg h & L a k e E r ie ..
2 6 7 ,6 2 7 N Y C h ic a g o & S t L o u l s . I
1 1 0 ,3 0 2
P h ila d e lp h ia & R e a d i n g ..
2 6 2 ,6 3 0
C
t r a l o f N e w J e r s e y ____
R e p r e s e n tin g 27 r o a d s
■ e n ......................
259,604
D e la w a re L a c k & W e s te rn
___
2 4 7 ,6
19
In o u r c o m p i l a t i o n _____ $ 6 ,8 2 0 ,0 8 1
C h e s a p e a k e & O h i o _______
2 2 1 ,7 6 3
L e h ig h V a l le y _____________
2 0 5 ,8 9 2
D ecreases.
N o r f o lk & W e s t e r n _______
1 9 2 ,5 7 9 A t c h T o p e k a & S a n t a F e . $ 5 3 0 ,0 2 9
D e n v e r & R io G r a n d e ____
1 9 0 ,9 2 0 N o r t h e r n P a c i f i c _________
3 2 0 ,7 2 9
W a b a s h ____________________
1 7 9 ,3 9 2 R o c k I s l a n d _______________
2 5 9 ,9 9 3
C h ic a g o & N o r t h w e s t e r n .
1 6 9 ,2 2 3 S t L o u is & S a n F r a n c i s c o
1 5 8 ,0 5 7
C h ic a g o & G r e a t W e s t e r n .
1 5 7 ,5 4 4 B o s t o n & M a in e ..............
1 0 0 ,0 4 9
A t l a n t i c C o a s t L i n e _______
1 4 9 ,4 0 3
■H o c k i n g V a l l e y ___________
1 3 9 ,9 5 7
R e p r e s e n t i n g 5 r o a d s In
M is s o u r i P a c i f i c ___________ c l2 2 ,0 4 0
o u r c o m p i l a t i o n ________ $ 1 ,3 6 8 ,8 5 7
a T h e s e f ig u r e s c o v e r m e r e ly t h e o p e r a t i o n s o f t h e N e w Y o r k C e n t r a l
I ts e lf .
F o r t h e N e w Y o r k C e n t r a l S y s te m t h e r e s u l t Is a g a in o f $ 1 , 3 5 9 ,2 0 4 .
c T h e s e f ig u r e s a r e f u r n i s h e d b y t h e c o m p a n y .
[V O L . L X X X X .
with the exception of that comprising Groups 8 and 9
(which in our tabulations are combined), covering the
roads and systems in the Southwest, where, as already
stated, conditions were adverse. Our summary by
groups is as follows.
SU M M A RY B Y G RO U PS.
--------------- ------- Gross E a rn in g s----------------- :—
D ie. ( + ) or
1910.
1909.
D ec. (— ) .
F ebruary—
3
§
S
%
G ro u p 1 (30 r o a d s ). N ew E n g la n d ------ 9 ,0 3 0 ,8 3 6
8 ,3 1 7 ,8 6 5
+ 6 8 2 ,9 7 1 8 .1 8
G ro u p 2 (142 ro a d s ). E a s t & M id d le .. 4 7 ,7 16,534 40 ,8 6 1 ,0 6 2 + 6 85 5 472 16 77
G ro u p 3 (101 r o a d s ). M iddle W e s t____ 2 8 ,5 8 9 ,4 6 0 22 ,8 7 7 ,0 6 3 + 5 ,7 1 2 ,3 9 7 24 .9 7
G ro u p s 4 & 5 (161 ro a d s ), S o u th e rn - - 26 ,7 9 8 ,9 8 3 2 3 ,5 92,331 + 3 ,2 0 6 ,6 5 2 1 3 .5 5
G ro u p s 6 & 7 (114 ro a d s ), N o r th w e s t. 42 ,7 2 0 ,6 5 5 3 6 ,7 1 0 ,7 5 8 + 6 ,0 0 9 ,8 9 7 1 6 .3 7
G ro u p s 8 & 9 (166 r o a d s ), S o u th w e s t. 3 3 ,0 7 7 ,6 1 6 3 0 ,2 1 8 ,8 5 2 + 2 ,8 5 8 ,7 6 4 9 46
G ro u p 10 (59 r o a d s ) , P acltlc C o a s t____ 12,195,004 10,143,299 + 2 ,0 5 1 ,7 0 5 20 23
„ ,
Section or G ro u p —
T o ta l (773 r o a d s ) .....................................200 ,1 2 9 ,0 8 8 172 ,7 5 1 ,2 3 0 + 2 7 ,3 7 7 ,8 5 8 15.85
-----------------------N e t
„
------ M ileage—
1910.
1909.
G ro u p N o. 1 - .......... 7,794
G ro u p N o. 2 ............. 2 6 ,142
G ro u p N o. 3 ............. 26 ,5 0 5
G ro u p s N os. 4 & 5 .
3 9,667
G ro u p s Nos. 6 & 7 .
61,827
G ro u p s N os. 8 & 9 .
53 ,7 6 0
G ro u p N o. 10-------- 15.601
T o t a l ................. - .2 3 1 ,2 9 6
7 ,766
25 ,8 5 6
26,241
38 ,9 4 7
6 1,238
53 ,2 0 5
14,615
2 27,868
1910.
$
2 ,3 8 8 ,2 4 4
1 2 ,8 75,091
7 ,5 9 6 ,6 9 2
8 ,7 8 4 ,0 4 7
1 1 ,9 8 5 ,6 8 6
7 ,9 9 1 ,3 2 7
4 ,5 8 3 ,0 5 8
5 6 ,2 0 4 ,1 4 5
E arnings-------------Inc. ( + ) or
D ec. (— ).
1909.
$
2 ,3 4 4 ,9 5 8
10 ,3 1 4 ,3 3 8
5 ,2 2 8 ,1 3 4
7 ,6 2 2 ,0 0 9
1 0 ,8 5 4 ,1 0 5
8 ,4 7 7 ,5 1 9
4 ,0 6 9 ,3 6 0
4 8 ,9 1 0 ,4 2 3
$
+ 4 3 ,2 8 6
+ 2 ,5 6 0 ,7 5 3
+ 2 ,3 6 8 ,5 5 8
+ 1 ,1 6 2 ,0 3 8
+ 1 ,131,581
— 480,192
+ 5 1 3 ,6 9 8
%
1.85
24.83
4 5 .3 0
15.18
10.44
5.73
12.62
+ 7 ,2 9 3 ,7 2 2 14.91
N O T E .— Group I . Includes a ll of th e N ew E n g la n d S ta te s .
Group I I . Includes a ll of N ew Y o rk a n d P e n n s y lv a n ia e x c e p t t h a t p o rtio n w est
o f P itts b u rg h a n d B u ffalo , a lso a ll of N ew J e rs e y , D e la w a re a n d M a ry la n d , a n d
t h e e x tre m e n o r th e r n p o rtio n of W e st V irg in ia .
Group I I I . In clu d e s a ll of O hio a n d I n d ia n a ; a ll of M ich ig an e x c e p t th e n o r th e r n
p e n in s u la , a n d t h a t p o rtio n o f N ew Y o rk a n d P e n n s y lv a n ia w e st of B u ffalo a n d
P itts b u rg h .
Groups I V . an d V . c o m b in e d in clu d e th e S o u th e rn S ta te s s o u th of t h e O hio a n d
e a s t of th e M ississippi R iv e r.
Groups V I. and V I I . c o m b in e d In clu d e th e n o r th e r n p e n in s u la of M ichigan, a ll of
M in n eso ta, W isco n sin , Io w a a n d Illin o is; a ll o f S o u th D a k o ta a n d N o r th D a k o ta , a n d
M issouri n o r th of S t. L o u is a n d K a n s a s C ity ; a lso a ll of M o n ta n a , W y o m in g a n d
N e b ra s k a , to g e th e r w ith C o lo rad o n o r th of a lin e p a ra lle l to th e S ta te lin e p a ssin g
th ro u g h D e n v e r.
Groups V I I I . a n d I X . c o m b in e d In clu d e a ll of K a n s a s , O k la h o m a , A rk a n sa s a n d
I n d ia n T e rrito ry ; M issouri s o u th of S t. L o u is a n d K a n s a s C ity ; C o lo rad o s o u th of
D en v er; th e w hole of T e x a s a n d th e b u lk of L o u isia n a ; a n d t h a t p o rtio n of N ew
M exico n o r th of a lin e r u n n in g fro m th e n o rth w e s t c o rn e r of th e S t a te th ro u g h
S a n ta F e a n d e a s t of a lin e r u n n in g fro m S a n ta F e to E l P a so .
Group X . In clu d es all of W a sh in g to n , O reg o n , I d a h o , C alifo rn ia, N e v a d a , U ta h
a n d A rizo n a , a n d t h e W e ste rn p a r t of N ew M exico.
As stated by us in previous months, in grouping the
roads we conform to the grouping or classification
adopted by the Inter-State Commerce Commission.
The only departure we make from the Commission’s
arrangement is that we have combined Groups 4 and 5,
so as to bring all the Southern roads together under
one head; also Groups 8 and 9, so as to bring the
Southwestern roads together, and have likewise com
bined Groups 6 and 7, these latter comprising the
systems running west and northwest of Chicago, the
mileage of most of which spreads over the territory
covered by both groups. We do not include any of
the Canadian lines in our figures, except of course so
much of the same as lies within the United States and
for which returns are filed with the Commission
The confines of the different groups are indicated in
the footnotes to the above table, but it is important
to note that where a road or system covers more than
one group, or overlaps into others, we have necessarily
been obliged to place it in some particular one of the
groups, as no way exists of dividing it up among the
two or more groups where it may be located. Our
plan in such cases has been to place the road or system
in the group where the bulk of the revenues is appar
ently obtained. In their annual statements to the
Inter-State Commerce Commission the companies are
required to show the amounts earned in each of the
groups, but of course no such division is attempted in
the case of the monthly returns.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
The public sales of bank stocks this week aggregate 289
shares, of which 241 shares were sold at the Stock Exchange
t h e r e s u l t Is a g a in o f $ 1 ,5 2 6 ,3 0 6 .
and 48 at auction. The transactions in trust company
When the roads are arranged in groups, or geographi stocks reach a total of 146 shares. Thirty shares of stock
the Knickerbocker Trust Co. were sold at 340 L6, an ad
cal divisions, every division records an increase in gross of
vance of 15M points over the price paid at the last previous
and every geographical division also an increase in net, sale, which was made late in March.
A p r . 23 1910.]
THE
o
CO
e
S h ares. B A N K S — N ew Y ork.
L o w . H ig h . C lo se .
248
*5 A m e r . E x c h . N a t . B a n k ____ 2 4 8
248
200
* 1 2 6 C o m m e r c e , N a t . B a n k o f ___ 200
215
19 0
* 1 1 0 F o u r t h N a t i o n a l B a n k ____
100
200
100
4 8 N o r t h e r n B a n k ................. .......... 100
100
T R U S T C O M P A N I E S — N e io Y o r k .
146
146
8 0 C a r n e g ie T r u s t C o ...................... 1 4 6
86 4
861
1 G u a r a n t y T r . C o . v o t . t r . c tf . 8 6 4
3 0 K n i c k e r b o c k e r T r u s t C o ____ 3 4 0 Vi
1361
1361
3 5 U n i o n T r u s t C o _____________ 1 3 5 9
C H R O N IC L E
L ast
A p r il
A p r il
A p r il
A p r il
p r e v io u s s a le .
1910— 250
1910— 214
1 9 1 0 — 200
1 9 1 0 — 103
A p r il
A p r il
M ch.
A p r il
1010—
1910—
1910 —
1910—
150
875
325
1361
* S o ld a t t h e S t o c k E x c h a n g e .
—The New York State Assembly on the 21st inst. passed
unanimously a substitute resolution for the one passed by
the Senate a week ago, providing for a general investigation
into legislative corruption in accordance with the recom
mendation of Governor Hughes. The resolution in its
present form has been referred to the Senate Committee on
Finance, which will report it to the Senate next week. As
adopted by the Assembly the resolution is similar to the one
which came from the Senate; it has been changed in some
particulars, however, one point of difference being the pro
vision in the Assembly resolution that no charge of official
misconduct against any candidate for State office shall be
received after Sept. 1 1910. In the form adopted by the
Assembly the resolution agrees with that of the Senate in
providing for the appointment of a joint committee of three
Senators and five Assemblymen to probe corrupt legislative
practices.
—Two New York Stock Exchange memberships were sold
on Thursday of this week for $78,000 each. The last pre
vious price for which a transfer was made was $85,000, in
March.
—The intended withdrawal from Congress of two of its
most conspicuous leaders, Senators Nelson W. Aldrich and
Eugene Hale, was made known this week. Announcements
have been made by both that they will not be candidates for
re-election at the expiration of their present terms, March 3
1911, when they will each have served thirty years in the
Senate. Mr. Aldrich, in announcing his decision, states
that he does not intend to resign his position on the National
Monetary Commission, of which he is Chairman, nor to
relinquish his efforts “to secure as soon as possible the
adoption of a wise banking and monetary system of the
United States.” Senator Hale is also a member of the
Monetary Commission, with which he will continue to
be identified.
— A Federal inquiry into an alleged cotton pool agreement
was begun in this city on Tuesday, when hearings were had in
an action brought by the Government against Frank B.
Hayne and William P. Brown of New Orleans, and others.
The subpoenas issued in the proceedings directed that the
defendants produce “the original or copies of an agreement
made Feb. 26 1910 by the defendants and others, who did
thereafter sign or subscribe to an agreement by which it was
provided, among other things, that the parties of the first
and' second parts should each purchase 150,000 bales of
cotton for delivery during the months March to July 1910
at certain prices and under certain conditions named in the
agreement.” The following statement with respect to the
movement was issued on the 18th inst. by William S. Kenyon,
Assistant to Attorney-General Wickersham, who is in charge
of the prosecutions for the Department of Justice:
I n c o n n e c t i o n w i t h t h e d i s c u s s io n o v e r t h e p r e v a l e n t h ig h p r ic e s o f f o o d
a n d o th e r c o m m o d itie s , th e a tt e n ti o n of th e A tto rn e y -G e n e ra l h a s b e e n d i
r e c t e d t o t h e a ll e g e d e x is t e n c e o f c e r t a i n p o o ls a n d c o m b i n a t i o n s o p e r a t i n g
c o r n e r s In v a r i o u s c o m m o d i ti e s a n d t h e i r e lf c c t o n I n t e r - S t a t e c o m m e r c e .
I n f o r m a t i o n h a s b e e n l a i d b e f o r e h im I n d i c a t i n g t h e f a c t t h a t a c o m b i n a
t i o n h a s b e e n f o r m e d b e tw e e n a n u m b e r o f o p e r a t o r s t o b u y u p a ll t h e r e
m a i n i n g u n u s e d r a w c o t t o n p r o d u c e d In t h e U n i t e d S t a t e s d u r i n g t h e c r o p
y e a r 1 000 - 1 0 , a n d t h a t a s t h e r e s u l t o f t h e o p e r a t i o n s o f t h i s p o o l t h e p r ic e
o f t h i s c o t t o n h a s a l r e a d y b e e n a d v a n c e d s o l a r g e ly In e x c e s s o f t h e n o r m a l
p r ic e t h a t t h e c o t t o n m a n u f a c t u r e r s h a v e g r e a t l y r e d u c e d t h e i r o u t p u t
r a t h e r t h a n b u y a t t h i s e x o r b l n t a n t p r ic e , t h r o w i n g o u t o f e m p l o y m e n t
u p w a r d s o f 2 5 % o f t h e c o tt o n - m i ll o p e r a t i v e s o f t h e U n i t e d S t a t e s , t h u s r e
s u l t i n g In t h e m o n o p o l i z a t i o n o f t h e e n t i r e v i s i b le s u p p l y o f r a w c o t t o n In
t h e m a r k e t a n d t h e d i m i n u t i o n In t h e c o m m e r c e o f c o t t o n g o o d s . T h e A t
to rn e y -G e n e ra l th e r e u p o n g a v e I n s tru c tio n s to h a v e th e m a tte r I n v e s ti
g a t e d b y t h e G r a n d J u r y In t h e S o u t h e r n D i s t r i c t o f N e w Y o r k , a n d s u b
p o e n a s w e r e I s s u e d t o - d a y w h ic h m a r k t h e c o m m e n c e m e n t o f a t h o r o u g h
I n v e s t i g a t i o n b y t h e G o v e r n m e n t o f t h e a ll e g e d p o o l ,
i t Is a n t i c i p a t e d
t h a t I n t e r e s t i n g d i s c l o s u r e s w ill b e m a d e a s t o t h e c o m p o s i ti o n a n d m a n a g e
m e n t o f th is c o m b in a tio n .
Dispatches from Washington yesterday stated that the
Department of Justice also has under investigation the
Chicago Board of Trade, with the idea of ascertaining
whether the Board is guilty of any violation of the Sherman
anti-trust law.
—An independent ticket, in addition to the regular one
of the nominating committee of the New York Stock Ex
change, will be submitted at the annual election of officers
on May 9. The only difference between the two is the sub
1079
stitution in the opposition ticket of the name of Albert
Francke for that of Arthur Whitney as a member of the
Governing Committee, and of Erastus T. Tefft for that of
Fuller Potter as a member of the Nominating Committee.
The regular ticket is as follows:
P r e s i d e n t , R . H . T h o m a s ; T r e a s u r e r , H e n r y C . S w o rd s ; G o v e r n o r s , f o u r
y e a rs , S te p h e n H . B r o w n , D o n a ld G . G td d e s , R . T . H . H a ls e y , S ta n le y
D . M c G ra w , W a r r e n B . N a s h , H . G . S . N o b le , G e o rg e B . P o s t J r . . S a m u e l
F . S t r e l t , F . K . S t u r g i s , A r t h u r W h i t n e y ; t h r e e y e a r s , C . L e d y a r d B l a ir ,
W il l ia m H . R e m le k ; T r u s t e e o f t h e G r a t u i t y F u n d , liv e y e a r s , E r n e s t
G r o e s b e c k ; N o m i n a t i n g C o m m i t t e e f o r 1 9 1 1 , D e x t e r B l a g d e n , A lf re d
M e s tr e , H e n r y E . M o n t g o m e r y , W il l ia m B . P o t t s a n d F u l l e r P o t t e r .
— Following a custom begun in 1903 of making extra
dividend distributions in May of each year, the Central Trust
Co. of this city has declared a special dividend of 9%, pay
able May 2 to holders of record April 23. This extra pay
ment, however, is the first on the new capital of $3,000,000,
the previous extra distributions of 20% each having been
on the old capital of $1,000,000. The institution in June
last increased its stock from $1,000,000 to $3,000,000 by the
declaration of a special stock dividend of $200 and has since
then paid 9% at each quarterly period on the enlarged cap
ital. With the extra amount now declared the yearly rate
will be 45%. The dividends on the old stock were 80%
per annum—45% each quarter and 20% extra each May.
—Franklin MacVeagh, Secretary of the Treasury, will be
the guest of the executive committee of the Trust Company
Section of the American Bankers’ Association at a luncheon
to be given at the Lawyer’s Club on Thursday the 28th
inst. Lawrence L. Gillespie, Chairman of the committee,
will preside.
—The plans of the Bankers’ Trust Co. for its new building,
which is to occupy the sites of the present Stevens and
Gillender buildings, at the northwest corner of Wall and
Nassau streets, were filed this week. The proposed structure
is to be a thirty-nine story office building. The company,
which is now at 7 Wall Street, had planned the erection of a
sixteen story building on the site of the Stevens Building at
14, 16 and 18 Wall Street, when it leased the same last
summer for a long term of years. But with the decision to
take in the adjoining property, (the site of the Gillender
Building, in which the Manhattan Trust Co. was housed),
the original plans have undergone considerable change.
Provision for both the Bankers’ Trust Co. and the Manhattan
Trust Co. has been made in the contemplated building.
Parts of the first three floors will be occupied by the Bankers’
Trust; the Manhattan will also have first, floor offices,
taking in the entire Nassau Street side of the building and
running back forty feet on Wall Street, with an entrance
on the latter street. The plot which the building will occupy
measures 94.6 feet on Wall Street and 96.11 feet on
Nassau Street. The building is to be of granite ornamented
with Ionic columns; a tower 94 feet high without windows
will be one of its prominent features. The building will be
539 feet high from the street to the top of the tower. There
will be fourteen elevators, five of which will be expresses to
the sixteenth floor, and one an express to the thirty-eighth
floor.
— Resolutions eulogistic of their late President, James
T. Woodward, were adopted by the directors of the Hanover
National Bank of this city on Tuesday, the 19th inst.
—The banking house of Spencer Trask & Co., founded by
the eminent banker of that name whose unfortunate death
occurred in a railroad accident a short time since, announces
the removal to-day of its offices to the ground floor of
43-49 Exchange Place, with connecting entrance from 43
Wall Street. At the new address the firm will have all the
departments of its large bond and New York Stock Exchange
business conveniently located on one floor in a commodious and
handsome banking room. The old 54 William Street offices
were long ago outgrown and additional offices were scattered
on other floors. Spencer Trask & Co. have branch offices
in Albany, Boston and Chicago.
—The statement of condition of the Knickerbocker Trust
Co. of this city on April 1 1910, which is printed on another
page, shows the completion of the recent changes in the com
pany’s capitalization. Prior to March 14 1910 the com
pany’s capital was $1,200,000, with undivided profits in ex
cess of $1,700,000. But on that date $1,200,000 of capital
stock was issued and sold at $300 per share, increasing the
capital to $2,400,000 and the surplus to $4,100,000. On
March 31 all the surplus “ B” certificates outstanding (ex
cepting $60,000) were converted into capital stock at $300
per share, increasing the capital to $3,180,000 and the sur
plus approximately to $5,700,000. All the old obligations to
1080
THE CHRONICLE
[V O L .L X X X X .
depositors have been met in full. The credit for the insti I of $100,000 from undivided profits. The institution has
tution’s complete rehabilitation is due to the loyalty of its $250,000 capital. It pays dividends of 1 2 % .
depositors and the zeal of the board of directors, who have
— C. B . Hood, formerly connected with the Mechanics’
given their unselfish support to the conscientious and pains Trust Co. of Boston, has become Assistant Secretary of the
taking work of President Charles H . Keep, who has had the Federal Trust Co. of Boston. The Mechanics’ was absorbed
executive direction since the company’s resumption on by the Federal Trust in September.
March 26 1908. During the past week, H . R . Duval, Presi
— Sumner E . Swazey has been elected Treasurer of the
dent of the American Beet Sugar Co., was elected a director
Cambridge Trust Co. of Cambridge, Mass., to fill the vacancy
to fill the vacancy caused by the death of Dumont Clarke.
created through the promotion to the presidency of George
Lewis L . Clarke, President of the American Exchange Na
Howland Cox, who was both Vice-President and Treasurer.
tional Bank, was also elected a director in place of Herbert
— It is reported from Portland, M e., that negotiations
L . Satterlee, resigned. Mr. Satterlee, who had been counsel
have been completed whereby control of the Portland Trust
to one of the depositors’ committees which aided in the re
Co. will pass to the Fidelity Trust Co. The merger which
sumption of the company, was elected at the request of the
will result will not be consummated until the completion of
voting trustees to the directorate of the institution shortly
the new building of the Fidelity Trust, the two institutions
before its reopening in March 1908. On April 1 the deposits
conducting business separately in the meantime. The Fi
were $34,045,430 and total resources $43,268,511.
delity Trust Co. in taking over the Portland Trust will in
— Charles Herbert Watson, a member of the banking firm crease its capital from $150,000 to $400,000. The Portland
of Estabrook & Co., members of the New York and Boston Trust, which is the older institution, has been in operation
stock exchanges, died on the 20th inst. Mr. Watson was twenty-five years. It has a paid-in capital of $250,000, sur
born in Boston; he was fifty-four years of age. He had been plus and profits of $750,000 and deposits of $6,000,000.
A
connected with the house for thirty-five years, and became merger of the National Traders’ Bank and the Fidelity Trust
a partner in 1883, when the firm was known as Brewster, occurred in 190 \ The latter has deposits of about $2,400,
Cobb & Estabrook.
000.
— The schedules in bankruptcy of J. M. Fiske & Co. of
this city, filed on the 15th inst., show liabilities of $1,262,992,
while the total value of the assets is placed at $1,136,702.
Of the liabilities, $943,040 are secured, $319,680 are unse
cured and $272 are for wages. The assets are made up
of collateral in the hands, of banks and trust companies
having a present value of $590,597, and $546,105 in the
hands of the receiver, the latter consisting of cash, $28,148,
notes, $3,250, office furniture, $1,200, accounts, $488,841,
and stocks and bonds, $24,666. There is $303,704 due to
members of the New York Stock Exchange, for which they
havs as security the Exchange seat of Clifford M. Washburn,
one of the partners. The firm is one of those whose failure
resulted from the collapse in the common stock of Columbus
& Hocking Coal & Iron Co., which occurred on Jan. 19.
— The jury in the trial of Donald L . Persch, who was
charged with the wrongful hypothecation of $110,000 of
copper stock deposited as collateral for a loan last year, to
M. M. Joyce, effected through Sterling Birmingham, former
manager of the loan department of the Windsor Trust Co.
of this city, .reported on the 20th inst. its inability to reach
an agreement, and was discharged.
— Notice of the intention to organize the Bank of Europe,
which is to locate at 74th St. and 1st A v e., is published in
the daily papers.
— The Hamilton Trust Co. of Brooklyn has increased the
quarterly dividend to be paid May 2 to 3 % , or at the rate of
1 2 % per annum. The previous quarterly distribution was
2
beginning with Feb. 1 1905, before which time the com
pany paid 2 % at each quarterly period.
— Control of the Newton Trust Co. of Newton, N . J ., is
reported as having been purchased by the Fidelity Trust Co.
of Newark. The Newton Trust was closely allied with the
banking firm of Searing & Co. of New York, which closed its
doors on Feb. 25 (F . F. Searing was Vice-President of the
trust company) and, according to the “ Newark News,”
with the failure of the firm the institution met with some
losses. Since the firm’s suspension the directors of the
trust company are said to have been in almost daily session
in an effort to properly rehabilitate their institution, and ne
gotiations were completed by President Hough on Tuesday
last by which control passed to the Fidelity Trust Co. The
following extract in the matter is from the “ Newark News” of
the 20th inst.:
Uzal II. McCarter. President of the Fidelity Trust Co., said to-day that
it was true that his company had Invested a large sum in the N ewton Trust
Co. This sum, he said, would be am ply sufficient to leave the capital of
the N ewton company Intact and give It a surplus of about 56,000 for the
protection of Its depositors. Every one of the losses that had been sus
tained by the N ewton Trust Co. through the failure of Searing & Co. has
been elim inated, he said, from the N ewton concern’s books, and he declared
that the latter Institution Is now In a position not only to fully protect all
Us depositors, but to prosper in a w ay that was Impossible before.
— The Girard National Bank of Philadelphia has raised
its dividend rate from 12 to 1 4 % per annum, having declared
a semi-annual dividend of 7 % , payable May 2, as against 6 %
heretofore. The bank has a capital of $2,000,000. The
statement issued under date of the latest call of the Comp
troller, March 29, showed surplus and net profits of $4,231,
309. The deposits in that statement amounted to $36,767,
834, having risen from $34,224,591 on Jan. 31, while the
total resources reached $44,078,443 in the March report,
as against $41,446,453 at the earlier date.
— The claims of the depositors in the Lincoln Savings &
Trust Co. of Philadelphia, which was placed in receiver’s
hands in June 1908, have all been discharged, together with
those of the creditors having undisputed claims. They were
paid 100 cents on the dollar, with interest, on Feb. 9.
— The Maryland Bankers’ Association will again hold its
annual convention at the Blue Mountain House at Blue
Mountain, M d., where last year’s session took place. The
dates of the present year’s meeting are June 21, 22 and 23.
— The stockholders of the Guarantee Title & Trust Co.
of Pittsburgh ratified on the 19th inst. the action of the di
rectors in disposing of the commercial banking business of
their institution to the Duquesne National Bank. The
transfer occurred on the 4th inst. The company continues
the operation of its various other departments— title, trust
and mortgage.
— Charles F . Dean, who resigned in January as Vice
President and Cashier of the Union National Bank of Pitts
burgh, on account of ill-health, died at Battle Creek, Mich.,
on the 20th inst. Mr. Dean had been associated with the
bank for forty-four years.
— John C. Stevenson, President of the Manufacturers’
Bank of Pittsburgh, died suddenly on the 16th inst. He had
been at the head of the institution since 1893. Mr. Steven
son was sixty years of age.
— W . T . Galliher is the successor to the late R . H . Lynn
as President of the American National Bank of Washington,
D. C. Mr. Galliher had previously held the vice-presideney.
— The Capital National Bank of Indianapolis, In d., has
increased its capital from $500,000 to $1,000,000, the en
larged amount having become operative on the 1st inst.
The plans of the institution in this respect were announced
in this department on Dec. 25. The additional stock was
placed on the market at $150 per share, all of it was sub
scribed, and the stock was issued on March 31. The bank’s
surplus now stands at $400,000.
— The following statement with regard to the recent resig
nation of Thomas J. Fitzgerald as Vice-President and Cashier
of the Stock Yards Savings Bank of Chicago was issued by
Vice-President J. A . Spoor on the 5th inst.:
— Thomas Cogan, having given up active business, has
resigned as Vice-President and director of the Greenville
Banking & Trust Co. of Jersey City. The office of Second
Vice-President has been established in the institution, and
Henry H . Holmes and Benjamin L . Stowe have been chosen
to the management as Vice-Presidents.
Mr. Fitzgerald, formerly Vice-President and Cashier of the bank, Is no
longer In Its service, his resignation having been accepted last week.
As far as vve have been able to discover. Irregularities In the bank’s
accounts have been found showing an apparent net shortage of 522,000.
Mr. Fitzgerald Is under bond to the bank In the sum of 525,000. This, with
other properties to be turned over to the bank, will, It is believed, protect
It against any possible loss.
The State bank examiner tb r this district was notlfled imm ediately the
Irregularities In the bank’s accounts were discovered.
— The Union Trust Co. of Albany, N . Y . , has increased
its surplus from $300,000 to $400,000 through the transfer
— Charles G. Fox, has resigned from the employ of the
Corn Exchange National Bank of Chicago, with which he
A pr . 23 1910.]
THE CHRONICLE
had been associated for twenty-seven years, to become
Assistant Cashier of the La Salle Street National Bank and
the La Salle Street Trust Co.
— William J. Henley has resigned from the directorate
of the Continental National Bank of Chicago.
1081
the appointment of one or more Assistant Cashiers, and to
change the qualification of directors, so that a stockholder
owning ten shares of stock may be elected a director in the
bank, even though he be a director in another bank, provided
such bank is located outside Baton Rouge. The bank was
organized on June 1 1889.
•
— The respective officers, directors and owners of a large
— The new building now under construction for the W hit
majority of the capital stock of the First National Bank of
Peoria, 111., and the Savings Bank of Peoria have approved ney-Central National Bank of New Orleans will not only be
a proposition to effect a unity of the stock and interests of the handsomest and tallest building in the Crescent City, but
both banks. Under this procedure the two banks will will be as fine a building for its size as any in the United
acquire increased banking facilities, which, it is believed, States. It will be fourteen stories in height, of strictly
will very much benefit both their stockholders and patrons. modern steel-frame construction, the first five stories being
The result of the arrangement will be as follows; The First of Stoney Creek (Mass.) granite and the remaining nine of
National Bank will increase its capital stock from $400,000 Bedford stone. The location is an ideal one, being at the
to $550,000. The owners of the capital stock of the Savings corner of Gravier and St. Charles streets, in the heart of the
Bank of Peoria will become the owners by an arrangement financial district, very near both the New Orleans Cotton
among the stockholders of $150,000 of the capital stock of and Stock exchanges. From all accounts the interior of the
the First National Bank. The capital stock of the Savings main banking room will not be surpassed for beauty and sta
Bank of Peoria will be held by trustees for the benefit of bility, even by the larger bank buildings in New York and
all of the stockholders of the First National Bank. Each Chicago. Specially selected marble has been imported for
bank will continue its business as heretofore; both will occupy the purpose from Botticini, Italy, which, together with other
portions of the building lately acquired by the First National foreign marbles, solid bronze grills, &c., will be utilized in
Bank of Peoria on Adams S t., as soon as the same is put in making this room one of the finest in the country. The
condition for occupancy. The officers and management will main floor will be occupied jointly by the Whitney-Central
continue tor be the same as heretofore. The several propo National Bank and the Whitney-Central Trust & Savings
sitions have been ratified by the respective stockholders Bank. The Whitney-Central is now the largest National
and the unification of the stock interests became effective on bank in the South, having a capital of $2,500,000, a surplus
April 1. The new stock will be issued at about $225 per fund o f $1,500,000 and resources of twenty millions. Charles
Godchaux is President; Frank B . Williams, Charles M. W hit
share.
ney, Sol Wexler, John E . Bouden Jr. and Harry T . Howard
— The recent statement, under date of March 29, of the
are Vice-Presidents; John B . Ferguson is Cashier and E . H .
People’s State Bank of Detroit, Mich., shows a gain in its
Keep and M. Pyk, Assistant Cashiers.
deposits of nearly a million dollars since the call of two months
— W e are informed that the Bankers’ Trust Co. of Oakland,
earlier, deposits being now reported at $28,383,932, as against
$27,597,733 on Jan. 31. The People’s State Bank is the Cal., will be merged with the Oakland Bank of Savings as
largest bank in the State of Michigan, and does both a com soon as all the legal steps can be taken. Our informant states
mercial and savings business. It has a capital of $1,500,000 that it will probably require two or three months to con
and surplus and profits of $1,813,829. Colonel George H . summate the proceedings.
Russel is President of the institution, Austin E . Wing is
Cashier and H . P. Borgman is Cashier of the savings depart
ment.
— The Michigan Exchange Bank recently opened for busi
ness in Grand Rapids. The capital is $30,000. Fry el- Halladay is President and G. L. Daane is Cashier.
— The Georgia Bankers’ Association will hold its annual
convention in Atlanta on June 7 and 8. The chief feature
of the program will be an address by Congressman E . B .
Vreeland, of the Tariff Commission. Hansell Ilillyer, of
Macon, G a., is Assistant Secretary of the Association.
— In accordance with the arrangements heretofore noted,
the Home Savings Bank of Macon, G a., has changed its
name to the Continental Trust Co. and increased its capital
from $50,000 to $500,000. Its surplus and profits are re
ported at $15,000. The reorganized institution starts under
the management of R . J. Taylor, President; N . M. Block
and L. P. Ilillyer, Vice-Presidents, and W . R . Rogers,
Secretary and Treasurer. Mr. Taylor, who had heretofore
served in the presidency, is also President of the American
National Bank of Macon. Mr. Hillyer, Vice-President of the
latter, will be the active officer of the trust company. The
company announces that it is prepared under its charter to
lend money on approved paper, invest in stocks and bonds,
underwrite safe and legitimate enterprises, and to act as
guardian, administrator, executor, trustee and registrar of
corporations. It will also continue its savings bank business.
— The annual meeting of the Alabama Bankers’ Associa
tion is scheduled for May 20 and 21 at Birmingham. F . O.
W atts, President of the First National Bank of Nashville,
and David R . Forgan, President of the National City Bank
of Chicago, are expected to be among the speakers on the
occasion. McLane Tilton Jr., Cashier of the First National
Bank of Pell City, is Secretary and Treasurer of the Asso
ciation.
— A meeting of the stockholders of the Bank of Baton
R ouge,at Baton Rouge, L a .,is to be held on May 16, to take
action on the question of increasing the capital from $50,000
to $250,000. Several other propositions are to be considered
at the meeting, one of these being a proposal to change the
par value of the stock from $50 to $100 per share. It is also
intended to take steps which will enable the bank to avail of
the law with respect to conducting a general savings, safedeposit, trust and banking business, and to amend its charter
sojas to authorizejthe'election of one or more Vice-Presidents,
— Thomas Prather, a forme/ President of the failed Union
National Bank of Oakland, Cal., and Warren B . English
have been exonerated of seeming wrongdoing in connection
with th suspension of the institution, through the dismissal
by Judge De Haven, in the U . S. District Court, of the indict
m ent; returned against them last December. This action,
it is stated, was in accordance with instructions from U . S.
Attorney-General Wickersham, who is said to have person
ally examined all the documents bearing on the relations of
Messrs. Prather and English with the bank, together with
the evidence on which the indictments were based, and found
no indication of criminality on the part of the defendants.
National Bank Examiner H . N . Morris is also said to have
r eported that the bank suffered no loss by reason of the acts
o f the defendants, and that its failure was not in the remot
est degree traceable to their acts. Mr. Prather retired as
President of the bank early in 1907, when his interest was
taken over by J. Dalzell Brown. The bank suspended later
in the year, during the panic, but resumed in January 1908.
I t again closed its doors in April 1909.
— The arrangements with regard to the additional stock
authorized by the shareholders of the Fidelity Trust Co. of
Tacom a, W a s h .,on March 8 provided for its disposal to the
existing stockholders at $150 per share, payable April 8.
The capital as reported in our issue of March 26 is raised
as a result of the new stock from $300,000 to $500,000.
There is also added, through the premium, $100,000
to the surplus, making it stand in round figures at $300,000.
As we have heretofore noted, the company has under con
struction a six-story addition to its building, which will give
it a twelve-story structure. W ith the completion of the
improvements, by the middle of June next, the institution
will have one of the most modern and up-to-date office
buildings on the Pacific Coast. A t the last annual meeting
Everett G. Griggs, President of the St. Paul & Tacoma
Lumber Co. and President of the Tacoma Chamber of
Commerce, was added to the Fidelity’s board of trustees.
— W . H . Moore, former President of the Oregon Trust &
Savings Bank of Portland, pleaded guilty on the 13th inst,
to having received a deposit when the institution was known
to be insolvent, and was fined $1,000. Mr. Moore was on
trial last month charged with accepting a deposit after he
knew the bank to be insolvent, and a verdict of “ not guilty”
was returned by the jury on the 1st inst. It is understood
that he was to have been fti-tried on a similar issue. He is
quoted as stating that while he does not believe that the
THE CHRONICLE
1083
institution was insolvent, he thought it the best policy to
plead guilty to avoid the large expense which would be in
curred in fighting the remaining cases against him. A sa re
sult of his plea, the “ Oregonian” states, all the remaining in
dictments against Mr. Moore, including embezzlement
charges, have been dismissed. The institution failed in
August 1907, and in February 1908 its assets were taken over
by the German-American Bank of Portland.
— The Imperial Bank of Canada (head office Toronto) has
decided to increase its paid-in capital from 85,000,000 to
86,000,000. Its authorized capital is 810,000,000. The
new stock is offered pro rata to shareholders of record
April 30 at 8200 per share.
— The Royal Bank of Canada, head office Montreal, has
issued in book form, in the usual attractive shape, its fortieth
annual report. The statistics cover the year ending Dec 31
1909, during which period the net profits amounted to 8838,
307. W e have heretofore noted the progress evidenced by
the yearly figures, and the following summary of increases
which occurred during the twelve months in the various
items, and set out in the book, indicates the prosperity which
the bank enjoys:
Tn r m
•tn l
In creased.
C a p ita l, p a l r i - u p . ________ $1,100,'000 Deposits
_____ $18,245,585
R e s e rv e f u n d ............ . ...... 1,100,000 Loans and discounts.. . 18,177,556
. . . 16,580,892
U n d iv id e d p ro fits
. ..
149,708 Total assets.. ... . .
S p ecie arid D o m in io n n o te s 1,571,818
The list of stockholders and their holdings is displayed,
and statistics bearing on the industrial and financial devel
opment of the Dominion are an important adjunct of the
volume.
— The sixtieth report of the Yokohama Specie Bank, L td .,
for the half-year ended Dec. 31 1909 was presented to the
shareholders at the head office, Yokoham a,on March 10.
The gross profits for the six months, including 1,155,841 yen
brought forward from the last account, amounted to $11,
331,069 yen, of which 8,374,261 yen has been deducted for
interest, taxes, current expenses, rebate on bills current,
bad and doubtful debts, bonus for officers and clerks, &c.,
leaving a balance of 2,957,408 yen for appropriation.
After providing for the payment of a dividend at the rate
of 12 % per annum, absorbing 1,440,000 yen, and applying
350,000 yen to the reserve fund, there remains 1,167,408 yen
to be carried forward to the credit of the next account. The
bank has a paid-up capital of 24,000,000 yen and reserve
funds of 15,900,000 yen. Its total assets on Dec. 31 1909
were 275,421,384 yen.
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.
M on.
2'u es.
W ed.
W eek e n d in g A p r i l 22.
S a t.
Silver, peroz______ ____ d . 21 %
24 9-10 24 9-10 21)4
81
81 A
Consols, new, 2 A Percents .. S i A
81 A
For account....................... . 81 5-16 81 'A
81 'A
81)4
French Ilentes (In Paris).fr . 98.80
98.70
98.85
98.80
Amalgamated Copper C o.. . . 78
78 l i
80)4
78)4
bAnaconda Mining C o.. ._.- 0'A
9)4
9)4
9)4
Atchison Topeka & Santa Fe.l 17 )•*
117
116)4
117)4
Preferred.......................... - 105 'A
105)4
105)4
105
Baltimore & Ohio........ ......... . 115
115
111
114)4
Preferred......................... - 94 A
94)4
94)4
94)4
Canadian Pacific____ ____ .188
188)4
187)4
187)4
Chesapeake & Ohio_______- 90)4
90 'A
89)4
90)4
Chicago Mllw. & St. Paul.. -147 A
148
146
117
Chicago Great Western___ . 30
30)4
30
30)4
43)4
Denver & Rio Grande____ . 44
44
44)4
Preferred ----------- -------- - 81)4
82
82
82)4
E rie------------ ----------------- . 31
31
31)4
31)4
First Preferred................ . 50
50 H
49)4
49)4
Second Preferred.............. - 39H
39
40)4
39
Illinois Central.......................144)4
114
143
114
Louisville & Nashville........... 155)4
155)4
154
154
44)4
Missouri Kansas & Texas__ . 45 H
44)4
45)4
Preferred........................... ■ 75)4
76
75)4
75)4
Nat. RR. of Mex., 1st Prof... C’5
65)4
65)4
05)4
Second Preferred_______ . 28)4
29
29
28)4
127
N. Y. Central & Hudson Rlv.l28M
127
128
N. Y. Ontario & Western__. 47
47
47
46)4
Norfolk & Western................ .107
107
106)4
106)4
Preferred ........................... . 92
92)4
92)4
92 'A
Northern Pacific................. .140)4
141
139)4
139)4
aPennsylvanla___________ ■ 70)4
70
70
70)4
aReadtng Company.............. . 85)4
85)4
86
85)4
47
aFIrst Preferred...... ......... . 47
47
47
aSecond Preferred.............. 53
53
53
53
Rock Island____________ 50)4
49
49)4
50)4
Southern Pacific.......... ........ 132
132
131
131)4
Southern Railway.............. 29
29
28)4
29)4
Preferred............................ 66)4
66 'A
67)4
66)4
Union Paclllc........ .............. 192 'A
192)4
193)4
191)4
Preferred............................ 100
100
100
100
U. S. Steel Corporation____ 8 9 «
88)4
88)4
89)4
Preferred............................ 125)4
124
125
125)4
Wabash .................................. 23)4
23
22)4
22)4
Preferred . . ....................... 50)4
50)4
49)4
49)4
74
Extended 4s....................... 74
73)4
73)4
a
Price per share,
b £ sterling.
T h u rs .
F rt.
24 9-10 24)4
81
80 A
81
81 'A
98.05 98.67)4
76)4
76)4
9)4
9)4
114)4
115)4
105
105
113)4
113)4
94
94
186)4
187)4
89
88)4
115
145)4
29)4
29)4
43)4
13)4
82
82
30)4
29)4
48)4
48)4
39
39
143
112)4
153)4
153
43)4
44 K
75)4
75)4
65)4
65)4
28 H
28)4
125)4
125
46 >4
46
106
100
92)4
92 'A
138
137)4
69)4
09)4
84)4
84)4
47
‘ 47
53
53
47)4
48)4
128)4
129)4
28
28)4
65)4
65)4
190)4
188)4
100
99)4
86)4
81)4
123)4
124
22
22
47)4
48
73
72)4
[V O L . L X X X X .
(Ejowmevctat and
cella u c cnxs |Xcxu5
N ation al B a n k s. — The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
APPLICATIONS TO CONVERT INTO NATIONAL HANKS
APPROVED.
The First State Bank of Dlghton, K an., capital, $40,000, Into “The
Citizens’ National Bank of D lghton.’’
The Commercial Bank of Chappell, N eb., capital, $25,000, Into “ The
First National Bank of Chappell.”
NATIONAL BANKS ORGANIZED.
A p r i l 9 to A p r i l 13.
9.719—
The First National Bank of Olathe, Col. Capital, $25,000. B. P.
Sm ith and C. P. Foster. Vice-Presidents; II. J. Coervcr, Cashier.
9.720—
“ First National Bank of Erwin,” Tenn. Capital, $25,000. A. R .
Brown, Pres.; F. II. Hannum, Vlce-Prcs.; R. M. Barry, Cashier.
9.721—
The First National Bank of Peterstown, W. Va. Capital, $25,000.
j . E. Hansbarger, Pres.; W . H. Ballard, Vlce-Pres.; O. P. Vines,
9.722—
The Farmers’ National Bank of Glasgow, K y. Capital, $75,000.
John Lewis, Pres.; V. H. Baird, Vice-Pres.; Geo. R . Lewis, Cashier;
P. W. Holman and F. J. Boles, Asst. Cashiers. Conversion of the
Farmers’ State Bank of Glasgow, Ky.
9.723— -The First National Bank of Shannon City, Iowa. Capital, $25,000.
E. T. Dufur, Pres.; Frank Wolfe, Vlce-Pres.; M. I. Roberts, Cash.
9.724—
The Farmers’ National Bank of Aurelia, Iowa. Capital, $50,000.
O. E. Yocum, Pres.; P. I). Wine, Vlce-Pres.; J. A. Johnson,
Cashier; G. R . W harton, Asst. Cashier.
LIQUIDATION.
7,032— The American National Bank of Bartlesville, Okla., April 4 1910.
1,321— The Farmers’ & Mechanics’ National Bank of Hartford, Conn.,
April 9 1910.
7,916— The First National Bank of West Liberty, K y., April 12 1910.
6,723— The Hamilton National Bank of Chicago, 111., March 30 1910.
Canadian Bank Clearings.— The clearings for the week end
ing April 16 at Canadian cities, in comparison with the same
week of 1909, show an increase in the aggregate of 3 8 .6 % .
10.
W eek e n d in g A p r i l
1910.
In c. or
D ec.
1909.
1908.
1907.
s
S
Canada—
.
S
S
%
M ontreal.... .................... 35,009,483 22,704,201 + 57.1 28,655,152 27,931,862
Toronto............................. 28,853,693 26,271,469 + 9.8 18,369,031 23,154,782
Winnipeg____________ 15,115,553 10,571,841 + 43.0 9,531,964 10,158,689
Vancouver....................... 8,018,878 3,797,233 + 111.2 3,176,145 3,473,167
Ottawa ............................. 3,853,275 2,657,821 + 45.0 3,389,054 3,063,278
1,857,144
Quebec.............................
1,923,011
1,535,934 + 25.3 1,920,514
1,602,382 1,541,640
H alifax...........................
1,674,230 1,354,774 +23.6
1,742,531
1,198,763
Hamilton______ _____
1,942,954
1,589,566
1,156,032
St. John............ ..............
1,325,792 1,079,440 + 22.8 1,302,109
London ..........................
1,477,100
1,374,153
903,178
1,245,420 + 10.4
1,297,877
Calgary .........................
912,164
2,717.783
1,230,570 + 120.8
Victoria.___________
997,494
1,124,324
1,522,351
1,176,783 +29.4
Edmonton........ ..............
1,000,000
052,117
1,299,208
774,457 + 67.7
Regina ______________
822,076 Not Include d In tot al.
Brandon .........................
440,547 Not Include d In tot al.
T otal Canada.......... ..
105,290,994 75,989,515 + 38.6 72,797,497 78,846,890
— “ The International Cable Directory of the W orld,” now
in its 13th issue, has just come from the press. The 1910
edition is more complete than any of its predecessors. It
comprises some 900 pages replete with information to those
having either domestic or foreign business relations. This
directory is issued in conjunction with the Western Union
telegraphic code system, which latter is known and actively
used in practically every city in the world. It contains the
names of thousands of subscribers, together with their
lines of business in which they are established and their
cable addresses, which are alphabetically arranged. The
work is issued by the International Cable Directory Co.,
New York and London. New York office, 59 Pearl Street.
Price 87 50.
— Maurice B. Mendham of Mendham Bros., 18 New St.,
has disposed of his seat on the New York Stock Exchange,
with the view to the dissolution of the firm. Mr. Mendham
had been a member of the Exchange since 1896; the present
partnership, formed in 1898, consisted of himself and
L. P. Mendham.
— Attention is called to the offering by Woodin, McNcar
& Moore, Chicago, of Jones County, Texas, court house 5s.
The assessed valuation of the county for taxation is stated
as 814,588,610 and total debt as only 8145,000.
Particulars
will be found in the advertisement on another page.
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
D i v i d e n d s a n n o u n c e d t h is w e e k a r c p r i n t e d i n i ta l i c s .
N am e o f C om pany.
R ailroads (Steam ).
Atch. Topeka * S an ta Fe, com. ( q u a r .) ..
A tlantic Coast Line R lt., p referred.........
Central of New Jersey (q u a r.)--------------G a . S o u . <t- F lo r id a . 1st a n d 2 n d p r e f ........
G rand R apids * In d ia n a ______ ______
G r a n d T r u n k , g u a r a n te e d s to c k ..........
F ir s t p r e fe r e n c e ....................
S e c o n d p r e fe r e n c e _____ .
G reat N orthern ( q u a r.)__
M e x ic a n R a ilw a y , f i r s t p r e fe r e n c e _______
S e c o n d p r e f e r e n c e .....................................
M is s o u r i K a n s a s A T e x a s , p r e fe r r e d ........
Morris & Essex Extension, g u a ra n te e d ..
L o w ell ..........................................
Norfolk & W estern, preferred ( q u a r.)__
N orthern Pacific (q u a r.)...............................
P itts. Cln. Chic. & S t. Louis, com. (quar.)
Preferred ( q u a r.).......................................
Reading Company, second preferred ___
Rome W atertow n & Ogdensburg (quar.)
S t. Louis & San F ran ., 1st pref. ( q u a r .) ..
U tica Chenango & Susq. Valley, g u ar’teed
V andalla (quar.) ............................................
N ash u a A
Per
C e n t.
W h en
P a y a b le .
Ju n e
May
May
May
•2 A
1A April
April
A April
5
April
>4 May
4
May
l 7-16 May
May
May
4 A May
May
l H May
I A April
« April
May?
1H May!
MayJJ
1
Mayj
3
I X May
lA
22A
H ooks C lo sed .
D a g s I n c lu s iv e .
of rec. April 29
1Holders
30 to
May 10
10April
12 to
May 2
2 April
Holders of rcc. April 30
10April
16 to
April 25
2
2
1
25
29
29
29
22
1
16 Holders of rcc. Aprll.IOa
Holders of rec. Apr.25a
Holders of rcc. April 15a
18 Holders of rec. April 30
Holders of rec. AprlU2a
25 Holders of rec April 15
25 Holders of rec. April 15
Holders of rcc. Aprll22a
10 H oldersjof rec. April 30
Holders of rcc. A pr 15a
Holders of rec. A pr.15a
25 Holders ofjrcc. May M
21
2 Holders of rec.
22
2
10
2
2
April 9a
N am e, o f C o m p a n y .
Electric and Street Railways.
8)...........
Coiumbus(().)Ky., pref.(quar.) (No. 42)
C o n n e ctic u t I t y . it- L t g ., c o m . cfc p r e f . (q n .)
East St. I.ouls & Sub., prel.(qu.) (No.l(i)
Grand Rapids Ity., pref. (quar.HNo. 38)
Havana Electric Uy., com. (quar.)(No. 6)
Preferred (quar.) (No. 1 7 ).-...... ..........
Mexico Tramways (quar.).......................
Milwaukee El. Uy. & L., pf.(qu.)(No.42)
Montreal Street Hy. (quar.)--------------Philadelphia Company, com. (quar.)----Public Scfvlce Inv., pref. (quar.) (No. 4)
Q u e b e c liy ., E ig h t & I ’oiver, p r e fe r r e d -----Hallways Co. General (quar.)..................
Rio do Janeiro Tram.,L.&P.,Ltd.(quar.)
C a p e lir e to n E le c . C o ., p r e f . (.N o.
S p r i n g f i e ld & X e n i a R y . , p r e f. ( q u a r . ) . - .
Per
C e n t.
W h ea
P a y a b le .
May
May
May
May
1 )4 May
1A May
1A May
1 )4 May
1A April
2 A May
May
IK
l'A May
3 'A May
May
1
May
1
1M May
May
4
l'A May
l'A May
3
1 'A
1
l>i
B ooks C lo se d .
D a y s I n c lu s iv e .
2 Holders of rec.
2 Holders of rec.
14 May 1 to
2 Holders of rec.
o Holders of rec.
14 April 23 to
14 April 23 to
1 April 16 to
30 Holders of rec.
2 Holders of rec.
2 Holders of rec.
2 Holders of rec.
2 April 19 to
1 April 21 to
2 April 15 to
5 May 1 to
16 Holders of rec.
2 Holders of rec.
2 April 22 to
April 16
April 15
May 15
April 15
April 15
May 31
May 31
April 30
April 20
April 13
April 1
April 20
May 1
April 30
April 30
May 5
May 2
April 13
May 9
Tampa Electric Co. (No. 21)................. -
Twin City It. T., Mlnneap., com. (qu.)._
W e st P e n n R y s . , p r e f . (q u a r .) (N o . 18) —
Banks.
2 Holders of rec. April 20
May
5
A m e r ic a n E x c h a n g e N a t i o n a l ....................
2 April 28 to May l
3
May
B o w e r y ( q u a r .) ............................................
May
2 April 28 to May I
5
E x tr a . . --------- -------------- ------- ------2 April 26 to May 1
C h em ic a l N a tio n a l (b i-m o n th ly ) — ..........2 A May
May
2 Holders of rec. April 21
5
C i t y , N a t i o n a l ................
—
May
2 Holders of rec. April 22
4
C o rn E xch an ge ( q u a r .) ------------- ---------May
2 April 29 to May 2
3
F i d e li ty ...........— ........................................
May
10
2 Holders of rec. April 21
G e r m a n i a .............................................. —
May
2 Holders of rec. April 21
2A
E x t r a ................ - ....................................
2
May
2 April 20 to May 1
P a c i f i c (q u a r . ) . . . ...............- .....................
Trust Companies.
2
May
2 Holders of rec. Aprll27a
A s to r ( q u a r . ) . . ...................- ........................
Broadway (quar.).......................................
1 April 21 to April 30
l 'A May
May
C e n tra l (e x tr a ) ........... . . .......................—
9
2 Holders of rec. Aprll23a
F a r m e r s ’ L o a n <fc T r u s t ( q u a r .) ................... 1 2 A May
2 April 24 to May 1
H a m ilto n , B r o o k ly n ( q u a r .) .........................
3
May
2 Holders of rec. April 25
K i n g s C o u n ty , B r o o k ly n ( q u a r .) .................
4
May
2 April 26 to May l
Nassau, Brooklyn (quar.) ................ .
2
May
2 April 29 to May I d
P e o p le 's , B ro o k ly n (m o n th ly ) ____ ______
1
May
2 Holders of rec. April 30
Miscellaneous.
A m a lg a m a te d C o p p e r ( q u a r .) .......................
'A May 30 Holders of rec. April 30
Amer. Dlst. Teleg. of N. J. (quar.)..........
1
April 28 April 19 to April 27
1 April 24 to May 1
A m e r . G as it E le c ., p r e f . (q u a r .) ( N o . 13).
May
lA
American Light & Traction, com. (quar.) 2 A May
2 April 17 to May 1
Common (stock dividend)...............
May 16 April 17 to May 1
b2A
Preferred (quar.)...............................
2 April 17 to May 1
l A May
3 April 16 to .......... .
May
American Malt Corporation, preferred__
2A
2 April 16 to May 2
American Malting, preferred................... 81 56 May
2 Holders of rec. April 28
B e rg n e r it E n g le B r e w in g , p r e f . ...............
84 May
2 April 28 to May 1
May
B r i ll ( J . G .) C o ., p r e f. (q u a r .) . .................
1U
B r itis h C o lu m b ia P a c k e r s' A s s ' n , p r e f —
3 A iMay 20 May 10 to May 20
2 Holders of rec. AprlllSa
Butte Elec. * Pow., pref.(qu.) (No. 35).
1H May
1H May 11 Holders of rcc. April 30a
C a m b r ia S te el ( q u a r .) .................. ..............
April 26 April 16 to April 25
1
Chicago Pneumatic Tool (quar.)...............
2 Holders of rec. April 22
l'A May
Clad In (II. B.) 1st pref. (quar.)----------May
2 Holders of rec. April 22
Second preferred (quar.)............ ..........
1A
2 April 21 to May 2
Commonwealth-Edlson (quar.)................
l 'A May
1 April 21 to Aprll30a
C o m p u tin g S c a le ( q u a r .) .......................... l'A May
April 27 Holders of rec. April 25
Cons. Gas,El.Lt.*P.,Balt.,com. (No. 1) 2
Consolidation Coal (quar.)-----------------to May 1
l 'A April 30 April 24
April 29 Holders of rec. April 8a
1
Distilling Co. of America, pref. (quar.)..
April 30 Holders of rec. April 9a
Distillers’ Securities Corp. (qu.) (No. 30)
A
duPont (E.I.) d eNemours Pow., pf. (qu.).
1M April 26 Holders of rec. April 15
21Holders of rec. April 18
Edison Elec. 111..Boston (quar.HNo.84). 2J4S May
2 Holders of rec. April 18
Extra ................ ...................................
A May
1 Holders of rec. Aprd 30
Electrical Securities, preferred...................
2 A May
2 April 19 to May 1
Elec. Bond .t Share, pref. (quar.) (No.20) l 'A May
2 Holders of rec. Aprll29a
F e d e ra l S u g a r R e f in in g , p r e f. ( q u a r .) -----l 'A May
G o rh a m M a n u f a c tu r in g , c o m m o n (q u a r .)._
May 10 Holders of rec. May 9a
2A
1 Holders of rec. May 16
G reat L a k e s T o w in g , c o m m o n ........ ..............
2
June
1 April 21 to May 1
G m n a ju iU o P o w . ct E l ., p f . (q u .) ( N o . 7 )..
l 'A May
Ilotncstake Mining (monthly) (No. 425). 50c. April 25 April 21 to .............
April 30 Holders of rcc. April 15
Ingersoll-Rand, common (No. 1)_______
5
1 May 14 to June 1
International Nickel, common (quar.)__
1
June
1 May 14 to June 1
June
Common (extra)............................. ..........
A
2 April 14 to May 2
Preferred (quar.).....................................
l A May
May 14 Holders of rec. April 30
Internat. Smokeless Pow. & Chem., pref. 4
2 April 20 to May 10
Internat.SteamPump, pref.(qu.) (No.44)
May
1A
Kansas City Stock Yards (quar.)...........
May
2 Holders of rec. AprlUSa
1A
1 April 23 to A'prll 30
M e x ic a n L ig h t it P o w e r, p re fe re n c e ..........
3 A May
1 May 18 to June 1
Michigan State Telephone, com. (quar.). .
Hi June
1 April 17 to May 2
Preferred (quar.)....................................
May
1A
1 July 17 to Aug. 2
Preferred (quar.)........ ............................
Aug.
1A
M o b ile E le c tric C o ., p r e f . ( q u a r .) ................
May 10
l A May 11 May 1 to
M o n tre a l L ig h t, I le a l it P o w . ( q u a r .) ____
H i May 15 Holders of rec. April 30
N a tio n a l L e a d , p r e f . ( q u a r .) ........ ..............
Hi June 15 May 21 to May 24
1
N e v a d a -C a lifo r n ia P o w e r (q u a r .) (N o . 7 )..
May
2 April 27 to ’ May 2
2
New Central Coal...................................... 2 April 28 to May 2
May
1
N e w E n g la n d C o tto n Y a r n , p r e f . ( q u a r .) ..
l 'A
April 25 Holders of rec. April 15
Nlagara Falls Power (No. 1)....................... 2
Pacific Coast, com. (quar.).........................
2 April 17 to May 2
l 'A May
1
Common (extra)___________________
May
2 April 17 to May 2
First preferred (quar.)______________
2 April 17 to May 2
Hi May
Second preferred (quar.)____________
2 April 17 to May 2
l 'A May
1
Second preferred (extra).........................
May
2 April 17 to May 2
Pennsylvania Steel, preferred..................
2 Holders of rcc. April 16
3 A May
People's Gas Light & Coke (quar.)..........
Hi May 25 Holders of rec. May 3
Pittsburgh Coal, pref. (quar.)...................
l 'A April 25 Holders of rcc. April 20
April 30 Holders of rec. April 23
Pope Manufacturing, pref. (quar.)...........
lA
May
2 April 26 to May 1
P o r tla n d (O re.) G a s it C o k e ,p f .( q u .) ( N o . 1) e l %
May 14 Holders of rec. Aprll30a
3
P r o c te r it G a m b le, c o m m o n ( q u a r .) .............
May 16 Holders of rec. April 30
2
P u llm a n C o m p a n y (q u a r .) ( N o . 173).........
Quaker Oats, pref. (quar.)____________
1A May 31 Holders of rec. May 2a
Sears, Roebuck it Co., com. (quar.)___
Hi May 14 Holders of rcc. April 30
Siegel Stores Corporation, pref. (quar.)..
Hi April 30 Holders of rec. April 15
April 26
Streets’ West. Stable-Car Line, com.(qu-)
A April 26 April 19 to
T r e n to n P o tte r ie s , p r e f . (q u a r .) ( N o . 4 1)..
1
April 25 Holders of rec. Aprll21a
United Cigar Mfrs., com. (quar.)...............
1 Holders of rec. April 26
1A May
United Dry Goods, com. (quar.)............... 2
2 Holders of rcc. April 22
May
United Electric Securities, preferred___
2 Holders of rcc. Aprll21a
3 A May
V . S . B o b b in it S h u ttle , p r e f . ( q u a r . ) - . _
2 April 21 to May 1
Hi May
U . S . E x p r e s s ( N o . 153)...................... III
3
May 16 May 2 to May 16
U. S. Realty it Improvement (quar.)..
2 Holders of rec. April 22
1H May
United States Rubber, 1st pref. (quar.)..
April 30 Holders of rcc. Aprlll5a
2
Second preferred (quar.)........................
1 A April 30 Holders of rec. Aprlll5a
W a lth a m W a tch , p r e fe r r e d ...........................
3
1 Holders of rec. May 10
June
W a n o tc k Iro n & S te e l ...................................
3
May 16 May 1 to May 15
\VhIte(J.G.) &Co.Inc., pref. (qu.) (No2S) l 'A May
2 Holders of rec.April 22a
Worthington (llcnry II.), Inc. pref.
3 A May
2 April 21 to May 1
a Transfer books not closed. 6 Payabel In common stock, d Correction.
eTho above dlvldcndjis forlthe quarter ending April 30 1010; also declared a dividend
at the rate of 7% per annum for period from Jan. 10 1010 to Jan. 31 1010.
A u ction S a le s . — Among other securities the following, not
regularly dealt in a t the Board, were recently sold at auction.
By Messrs. Adrian H . Muller & Son:
S to c k s .
1 N. Y.. Law Institute.....................S100 200 Otis Elevator Co......................... 56
35 Union Tr. Co., 8100 each.. 1350-1301 80 Carnegie Trust Co.......................140
l Guaranty Tr. Co. vot. tr. ctf..864
B o n d s.
48 Northern Bank...........................100
100 Auto Press Co., pref__ SOVs per sh. $10,000 Elko Realty & Devel. Co.,
1st 7s, 1918. J .& J . Jan. 1910
30 Knickerbocker Trust C o..........340 A
coupons attached.........................84,700
150 Am. Rattan & Reed Mfg. Co.,
$00 per share $20,000 North Carolina Special Tax
34 Amer. Car Seat Co., 810 each,
6s (Issued for West. N.- Car. RR.
Co.), April 1870 coupons on...........$230
$8 per share
1083
THE CHRONICLE
A pr . 23 1910.]
S ta te m e n t of N ew Y ork C ity C learing-H ouse B a n k s. — The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending April 16.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given:
For definitions and rules under which the various items are
made up, see “ Chronicle,” V . 85, p. 836.
W e o m it tw o c ip h e r s
B a n k s.
00s o m itte d .
C a p i ta l .
S u r p lu s .
(00)
L oan s.
A verage.
in a ll c a ses.
S p e c ie .
A verage.
D e p o s its .
A verage.
L e g a ls.
A verage.
R e
s ’ve.
8
S
S
8
$
%
3
Bank of N. Y_. 2,000,0 3,494,1
18,609,0 3,059,0 1,095,0 15,972,0 26.0
.Manhattan Co. 2,050,0 4,222,0 30,850,0 6,779,0 1,643,0 34,350,0 24.5
Merchants’___
2,000,0
1,770,6 19,025,0 3,220,0 1,672,0 19,181,0 25.5
Mech. & Metals 6,000,0 7,796,6 52,202,1 13,147,7
983,0 51,878,9 27.2
America_____
1,500,0 5,931,1 23,955,0 4,288,9 1,867,0 23,903,1 25.7
Fhenlx--------1,000,0
7,393,0 1,402,0
348,0
0,531,0 27.4
713,0
City ................. 25,000,0 30,897,3 172,476,0 36,016,4 4,910,0 159,825,7 25.6
Chemical— __ 3,000,0 6,295,2 28,637,0 4,803,3 2,198,9 26,782,6 26.2
Merchants’ E x.
600,0
132,1
6,745,3 25.0
566,0
1,559,9
6,671,1
Gallatin............
1,000,0 2,507,0
442,1
6,375,6 26.2
8,203,8 1,229,5
Butch. & Drov.
300,0
2,424,5 27.4
157,7
2,330,3
592,2
73,7
Greenwich----500,0
813,4
7,741,2 1,912,4
8,604,5 24.6
182,0
5,000,0 5,366,2 29,789,5 3,873,5 1,802,1 22,759,4 25.3
Amer. E x ch ...
Commerce------ 2.5,000,0 16,381,0 146,281,8 23,791,1 7,929,5 124,233,9 25.6
3,000,0 2,627,2
Mercantile----13,893,5 1,651,4
979,7 10,242,7 25.6
500,0
Pacific ______
905,5
3,705,0
359,2
3,281,3 25.6
480,8
450,0 1,050,7
Chatham_____
7,171.5
934,1 1,030,9
7,651,0 25.7
200,0
468,7
2,047,2
People’s ...........
134,2
471,0
2,172,9 27.8
3,000,0 11,581,1 62,419,9 12,413,0 7,071,0 71,451,7 27.3
Hanover_____
1,600,9 22,519,3 5,324,3
Citizens’ Cent.. 2,550,0
324,8 22,160,0 25.6
500,0
502,9
0,995,5
Nassau______
853,4 1,053,8
7,807,6 24.4
1,000,0 1,692,5
8,658,7
Market & Fult.
1,071,1 1,078,7
8,326,4 25.8
2,000,0 1,444,6 11,171,1 2,519,1
196,3 10,918,3 24.8
Metropolitan . .
Corn Exchange. 3,000,0 5,395,3 41,154,0 7,793,0 4,762,0 48,586,0 25.8
Imp. & Traders’ 1,500,0 7,539,5 26,544,0 3,650,0 2,353,0 24,165,0 24.8
3,000,0 10,290,4 79,317,0 21,362,0 1,451,0 88,456,0 25.7
Park-----------250,0
108,4
1,446,7
349,6
East River----88,9
1,654,9 26.4
Fourth............. 5,000,0 5,614,5 25,090,0 3,711,0 2,100,0 22,781,0 25.5
1,000,0 1,998,6 13,580,0 3,192,0
271,0 13,590,0 25.4
Second .............
F irst------------ 10,000,0 20,302,4 98,848,0 20,675,1 1,644,0 86,469,7 25.8
Irving E x ch ... 2,000,0 1,619,1 23,359,7 5,503,0 1,059,8 25,435,6 25.8
250,0
823,1
3,434,0
Bowery ...........
847,0
59,0
3,621,0 25.0
500,0 1,643,7
7,936,6 1,396,7
N. Y. County..
698,3
8,114,0 26.3
673,9
750,0
German-Amer .
4,013,0
206,5
803,8
3,890,4 25.9
5,000,0 7,600,8 72,429,4 18,631,8 3,718,2 81,014,7 27.5
Chase. - -------100,0 2,207,4
13,077,0 2,702,1 1,029,0 14,800,0 25.6
Fifth Avenue..
911,9
530,0
German E xch..
200,0
3,832,0
600,0
4,181,0 27.0
4,821,3
200,0 1,021,8
889,0
573,8
Germania........
5,603,8 26.1
1,000,0 1,472,6 10,043,6 3,713,1
658,9 17,418,4 25.1
Lincoln . ___
8,443,1
1,929,0
282,3
Garfield--------1,000,0 1,178,2
8,563,9 25.8
338,3
250,0
489,9
3,447,7
027,9
Fifth National.
3,740,S 25.8
094,4 2,160,7 11,414,4 25.0
Metropolis___
1,000,0 2,067,0 11,484,8
220,0
4,384,0 1,100,0
5,022,0 26.2
West Side.........
200,0 1,057,4
Seaboard...........
1,000,0 1,900,2 18,990,0 4,083,0 1,449,0 21,661,0 25.5
Liberty. . . ----1,000,0 2,705,9 18,113,8 3,921,7 1,032,9 18,843,8 26.2
762,2
209,4
7,946,1 2,425,4
9,872,1 26.6
N. Y. Prod. Ex.
1,000,0
830,5 14,328,0 4,213,0
301,0 17,733,0 25.4
State.................
1,000,0
325,2
695,2
14th Street___
1,000,0
6,011,7 1,031,8
6,691,9 25.8
Coal & Iron__
349,6
889,0
1,000,0
5,661,0
427,0
5,499,0 23.9
Totals, Average 130,350,0 185,325,6 1226,483,0 248,011,9 06,083,8 1212,462,8 25.9
Actual figures April 16. .............. 1213,704,5 248,294,7 60,409.1 1199,178,5 26.2
On the basis of averages, circulation amounted to S48,414,600 and United States
deposits (Included In deposits) to SI,569,000; actual figures April 16, circulation, $48.
522,700; United States deposits, $1,578,400.
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:
For definitions and rules under which the various items are
made up, see “ Chronicle,” V . 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
W eek e n d e d A p r i l
16.
Capital as of March 25__
Surplus as of March 2 5 ...
Loans and Investments..
Change from last week.
S la te B a n k s
T ru st C os.
S ta te B a n k s
T r u s t C o s.
o u ts id e o f
in
in
o u ts id e o f
G reater N . Y . G rea ter N . y . G rea ter N . I’. G rea ter N . Y .
S
.
26,225,000
S
64,625,000
$
•8,758,000
S
*7,975,000
174,728,300
•10,719,766
*10,652,956
290,750,300 1,084,745,400
+399,000 —2,856,100
91,264,400
+ 41,500
136,165,700
+ 1,181,100
38,980,900
"Change from last week.
46,677,900
+ 432,300
Legal-tenders & bk. notes
Change from last week.
25,104,200
+312,700
Deposits ...........................
Change from last week.
Reserve on deposits____
Change from last week.
P. C. reserve to deposits.
Percentage last week..
120,650.400
+ 1,026,800
12,664,900 ....................... .......................
—28,800
336,152,200 1,122,087,500
+ 141,400 —8,136,400
95,519,800
+ 200,900
142,403,100
—594,600
138,614,000
—500
19,147,100
+ 18,100
18,733,500
— 1,560,900
92,791,600
+339,500
28.0%
27.9%
15.6%
15.6%
20.7%
20.7%
13.8% J33
14.9% l a
+ Increase over last week. — Decrease from last week. * As of Nov. 16 1909.
N o t e . —"Surplus” Includes all undivided profits. "Reserve on deposits” In
cludes, for both trust companies and State banks, 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 payable7w!thln
thirty days, and also exclsulve of time deposits not payable within 30 days,'repre
sented 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.
— T r u s t C o s .—
—S ta te B a n k s —
R e s e r ve R e q u ir e d f o r T r u s t C o m p a n ie s
a n d S ta te B a n k s .
L o c a tio n —
T o ta l
Of
T o ta l
Of
R e s e r ve
w h ic h R e s e r v e
w h ic h
R e q u ir e d i n C a s h .R e q u ir e d , i n C a s h ,
Manhattan Borough.................................................. 15%
Brooklyn Borough(wlthout brand 83In Manhat.).15%
Other Boroughs (without branches In Manhattan).15%
Any Borough with branches In Manhattan..............16%
Elsewhere In State........................................ ........... 10%
15%
10%
10%
15%
5%
25%
20%
15%
25%
15%
15%
10%
7^%
15%
6%
THE CHRONICLE
1084
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York n o t i n th e C le a r in g
H ouse.
These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing
House banks. In addition, we have combined each corre
sponding item in the two statements, thus affording an aggre
gate for the whole of the banks and trust companies in the
'Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
W e ek e n d e d A p r i l
C le a r .-H o u s e
B a n k s.
A c tu a lF ig u re s
16.
S ta te B a n k s it T o ta l o f a ll
T r u s t C o s . n ot B a n k s & T r u s t
in C .- H . A v e r . C o s . A v e r a g e .
C le a r .-H o u s e
B a n k s.
A verage.
S
S
Capital fNat. banks ) 130,350,000
130,350,000
1 March 29 [
Surplus i State Banks ) 185,325,600
185.325,600
l March 25. j
Loans and Investments 1,213,701,500 1,226,483,000
Change from last week —20,116,800 — 15,795,600
D eposits.....................Change from last week
S p ecie------------------ Change from last week
5
74,900,000
S
205,250,000
183.344,700
368,670,300
1,174,544,700 2,401,027,700
—2,300,200 — 18,095,800
1,199,178,500 1,212,462,800 a l, 135,6.37,800 2,348,100,600
—6,145,300 —21,216,700
— 17,106,800 — 15,101,400
127,055,800 375,067,700
218,011,900
248,291,700
+ 1,227,500 + 1,624,900
+ 397,400
+ 3,532,600
Legal-tenders----------Change from last week
66,409,100
+ 669,000
60,083,800
+276,600
621,333,500
+ 15,000
87,417.300
+ 291,600
Aggr’te money holdings
Change from last week
314,763,800
+ 4,201,600
314,095,700
+ 674,000
cl48,389,300
+ 1,242,500
462,485,000
+ 1,916,500
23,566,500
— 1,593,800
23,566,500
— 1,593,800
171,955,800
—351,300
486,051,500
322.700
Money on deposit with
Change from last week
Total reserve..........._
Change from last week
314,095,700
+ 674,000
314,763,800
+ 4,201,000
Percentage to deposits
requiring reserve___
Percentage last week..
20.28%
25.56%
25.93%
25.55%
14,969,175
10,980,000
[V O L . L XX XX
C a p ita l
and
S u rp lu s.
B a n k s.
Boston.
Mch. 26 ..
Apr. 2 ..
Apr. 9 ..
Apr. 16..
Pltlla.
Mch. 2 6 ..
Apr. 2 . . .
Apr. 9 ..
Apr. 16..
S
40.300,0
40,300.0
40,300,0
40,300,0
S
204,120,0
207,979.0
211,367,0
211,049,0
56,315,0
56,315,0
56,315,0
56,315,0
258,548,0
262,251.0
264,302,0
262,973,0
$
21,666.0
22,196.0
23,470,0
24,047,0
Feb.
Feb.
Mch.
Mch.
Mch.
Mch.
April
April
April
1 9 ..
2 6 ..
5 ..
1 2 ..
1 9 ..
2 6 ..
2 ..
9 ..
16..
S
2.380.108.9
2.380.174.4
2.391.964.9
2.400.819.5
2,403,002,1
2.408.505.6
2.427.633.6
2,419,123,5
2.401.027.7
S
2,351,141,3
2,348,306 4
2,353,110,9
2.360.577.2
2.360.803.1
2.366.456.3
2.388.538.1
2.369.347.3
2,348,100,6
S p e c ie .
$
L e g a ls.
393,107,2
390,026 0
356.325.8
385,469.1
383.205.5
385.423.9
382.307.5
373,442,8
375,067,7
B a n k s.
C a p i
ta l.
S u r
p lu s .
and
I?ivestm e n is .
(00) in
Wash. H’ts
Century . . .
Colonial . . .
Columbia. .
Fidelity . .
Jefferson__
Mt. Morris.
Mutual-----
23d Ward..
Un.Ex.Nat.
Yorkville . .
New Neth’d
Bat. Pk.Nat.
Aetna Nat.
$
7,098,0
7,117,0
7,135,0
7,126,0
S
151,362.4
190,750,6
160,955,3
163,596,1
304,566,0
309,636,0
307,811,0
307,382,0
16.396,0
16,349,0
16,348,0
10,340,0
123.936,5
159,676,5
155,506,2
152,914,7
$3,206,872
14,237,470
$2,0S0,675
10,845,107
$2,649,883
i l , 120,877
S2,491,229
16,078,528
1907.
1908.
1909.
1910.
Dry Goods___ ___________
General Merchandise______
T otal____ ____ _____
$18,569,757 S16,770,760 $12,925,782 $17,444,342
S in c e J a n . 1.
Dry Goods........ ...................... $53,204,233 $54,478,343 340,814,336 $60,186,170
General Merchandise............. 243,810,197 203,340,312 140,134,152 216,351,829
Total 15 weeks.................. $297,014,430 $257,818,655 $180,948,488 $276,537,999
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 16 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1910.
|
1909.
1908.
1907.
The following table shows the exports and imports of
specie at the port of New York for the week ending April 16
and since Jan. 1 1910, and for the corresponding periods in
1909 and 1908:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
a ll th ese f ig u r e s .
D e p o s it w ith
C le a r
in g
A g e n t.
O llier
N et
B a n k s , D e p o s its .
A c.
I m p o r ts .
E x p o r ts .
Gold.
W e ek .
S in c e J a n .
1
34,000,000 S10,650,000
Total 1909-....................................
Total 1908......................................
Silver.
600
200
4,455
3,236,587
15,240
5,073,832
25,500
34,016,040 318,990,374
550,100 38,935,830
1,894,429
1,005,529
West Indies.......................................
S826.597 $11,522,426
666.850
26,700
421,345
400
31,583
1,303
All other countries.............. ...........
14,805
750
Total J910....................
Total 1909__________
Total 1908................ .......
700
$855,790 $12,657,759
856,016 13,919,007
845,030 12,368,804
W e ek .
S in c e J a n .
1
S9.301
$7,115
3,345,375
3,201
3,367
48,251
45,219
97,967
60,571
924,814
381,213
$109,402 $4,817,055
181,093 4,282,530
226,041 9,016,552
§89
78
18,792
1,098
51,469
$9,459
644
6,535
21,591
330,611
428,442
373,151
$71,526 $1,170,433
1,348,433
23,947
991,496
8,339
Of the above imports for the week in 1910, $50
were American gold coin and $49 American silver coin.
Of the exports during the same time, $4,016,040 were Ameri
can gold coin and $1,300 were American silver coin.
Iskmhun) iim l F in a n c ia l.
N. Y. City
B o ro u g h s of
M a n . A I ir x .
S
251,773,0
263,066,0
255,085,0
259,272,0
FOREIGN IMPORTS AT NEW YORK.
F o r W e ek .
T o t. M o n e y E n tir e R e s .
H o ld in g s . o n D e p o s it.
S
S
3
88.351.1 481,458,3 504,124,9
88,380 7 478,406 7 501,339,3
85,917,9 472.243.7 496,517.7
84.186,8 469,655,9 494.387.6
84.008.7 467,214,2 490.676.7
85.002.2 470,426,1 494.531.6
87.242.2 469.549.7 494.252.7
87.125.7 460,568,5 485.728.8
87.417.3 462,185,0 486,051,5
L eg a l
T ender
and
S p e c ie .
B ank
N o te s .
C le a r in g s .
$188,208,091 $184,989,861 $211,252,870 §198,172,983
the statement of condition of the clearing non-member banks
for the week ending April 16, based on average daily results:
L oan s,
C ir c u
la tio n .
Im p orts and E x p o rts for th e W eek . — The following are
the imports at New York for the week ending April 16;
also totals since the beginning of the first week in January:
17.2%
17.2%
R ep orts of C learing N on-M em ber B a n k s. — The following is
W e o m it tw o c ip h e r s
S
3,989,0
3,800,0
4,093,0
4,591,0
71,498.0
70,746.0
68,524,0
67,906,0
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
W e o m it tw o c ip h e r s in a ll these f ig u r e s . ____________
D e p o s i ts .
a
D e p o s its ,
a Including Government deposits and the Item "due to other banks. At Boston
Government deposits amounted to $3,026,000 on April 16, against S3,029,000 on
April 9.
The averages of the New York Clearing-House banks
c o m b in e d 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:
Loans and
I n v e s t m e n ts .
L e g a ls .
S p e c ie .
L oan s.
a ll th ese f ig u r e s .
.$11,718,467 $9,869,720 312,334,591 312,959,725
176,489,624 175,120,141 198,918,285 185,215,258
+ Increase over last week. —■Decrease from last week.
a These are the deposits after eliminating the Item “Due from reserve depositories
and other banks and trust companies In New York City.” with this Item Included,
deposits amounted to SI,231,756,100, a decrease of $8,519,300 from last week. In
the case of the Clearing-House banks, the deposits are "net” both for the average
and the actual figures, b Includes bank notes, c Of tills amount State banks held
S15,071,000 and trust companies S133,315,300.
W eek
E n ded.
(00) i n
W e o m it tw o c ip h er s
$
100,0
200,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
1,000,0
100,0
200,0
200,0
300,0
*
259,6
154,3
334,3
447,5
168,0
510,2
307,7
353,4
433,2
109,0
936,4
445,7
257,5
149,8
319,1
B o ro u g h o f
B r o o k ly n .
Broadway . 200,0
642,4
Mfrs 1 Nat. 252,0
807,3
Mechanics’. 1,000,0
887,9
Nassau___
985,0
750.0
Nat. City..
604,0
300,0
North Side. 200,0
140,6
First N at.. 300,0
591,3
Jersey City.
First N a t..
400,0 1,249,2
Hud.Co.Nat 250,0
740,3
200,0
Third N at..
389,7
Hoboken.
220,0
630,5
First N a t..
125,0
243,9
Second Nat.
3
s
s
74,0
135,0
1,364,0
24,0 190,9
1,515,1
5,920,3 758,7 520,8
5,717,6 623,0 573,0
71,0
1,134,7 108,7
23,8 504,2
3,611,8
28,7
3,019,1 564,1
31,4 607,7
3,,875,2
3.753.5 320.0 282,0
51,3
1.871.5 159.0
8,244,0 1,096,0 1,000,0
46,8 749,3
4,100,9
86,0
2,392,0 259,0
36,3
1,215,7 199,6
31,2
1,912,0 373,4
S
158,0
74,3
589,2
841,0
154,0
369,9
418,6
495,7
1,432,0
217,3
213,0
313,4
263,0
81,7
88,3
____
255,3
20,0
____
29,9
25,9 549,9
545,2 241,6
310,2 1,217,3
614,0 308,0
109,0 608,0
11 1,2
129,0
71,0
312,0
352,1
927,2
1,278,4
1,232,0
541,0
280,5
150,0
285,9 3,845,2
137,0 0,414,6
225,6 13,827,8
7,108,0
144,0 4,820,0
100,9 2,189,7
38,0 3,064,0
f f a t
& W
h i t e
BANKERS
Members New York Stock Exchange
5 NASSAU STR EET,
T H E R O O K ER Y .
NEW YORK
CHICAGO
364,3 2,201,8
36,5
158,4
125,6
438,3
189,0 0,266,2
144,2 2,366,3
16,2 2,130,1
B A N K IN G and EXCHANGE ol every description In connection with
3,194,9
5,685,0
10,974,9
6,860,0
3,832,0
1,828,3
3,296,0
4,775,7
2,700,6
1,930,5
326,2
123,5
36,6
2,729,2
2,657,3
122,9
84,1
28,1
86,9
131,7
89,9
S
162,1
167,1
____
218,7
97,2
5,3
121,0
229,9
$
1,387,0
1,808,1
7,334,3
7,214,0
1,200,3
3,800,5
3,916,4
4,522,5
4.850.0
2.106.1
8,236,7
5,319,2
2,622,0
1,207,5
1,722,7
2,417,1
2,858,4
Tot. Apr. 16 8,447,0 12,997,8 100141,2 7,461,1 8,560,7 13,791,3 2,587,3 114554.7
Tot. Apr. 9 8,447,0 12,997,8 99,849,3 7,425,4 8,746,1 14,817,3 2,740,2 115882,1
Tot. Apr. 2 8,447,0 12,891,4 99,981,0 7,298,9 8,370,7 12,655,5 2,659,9 112912,7
B o sto n and P h ilad elp h ia B a n k s. — Below is a summary of
the weekly totals of the Clearing-House banks of Boston and
Philadelphia.
INVESTMENT SECURITIES
Our eight-page circular No. 087 describes several Issues ol sound
jnvestm ent bonds yielding about
to 5H % .
Spencer Trask & Co.
43 EXCHANGE PLACE. . . .
NEW YORK
Branch offices: Chicago, III., Boston, Mass., Albany, N. Y.
M
o
EXPORTS & IMPORTS
International Banking Corporation
60 Wall St.. New York.
CAPITAL & SURPLUS. $6,500,000
BRANCHES and AGENCIES throughout the W ORLD.
T H E IN T E R N A T IO N A L
Organized under the Laws of N. Y. State.
Accounts Invited.
BANK
60 Wall St., New York
Interest paid on Term D eposits.
THOMAS H. HUBBARD. President.
THE CHRONICLE
A m . 23 1910.J
M d tx T x z v b *
(tfr tiz z tlt*
W a l l S t r e e t , F r i d a y N i g h t , A p r i l 22 1910.
The M oney M arket and F in an cial S itu a tio n . — The advance
in security values noted last week has been largely or wholly
offset by a steady decline of prices which has been in progress
throughout this week. The decline has not been precipitous,
however, and prices are still above the recent level.
The matters of interest which have been discussed in Stock
Exchange circles are more or less confusing and contra
dictory in their effect upon sentiment.
Another illustration of the popular feeling against “ Aldricliism” and “ Aldridgeism” has been given, although it
can hardly be truthfully said that this, or the investigation
of methods in vogue at the Cotton Exchange, both of which
have attracted considerable attention, have had any direct
effect upon security values.
Reports as to the conditions of the winter-wheat crop are
more encouraging and a substantial decline in the grain
and cotton markets suggests that perhaps the period of
excessively high prices for agricultural products is drawing
to a close. Latest reports from the iron and steel industry
continue to show that the demand is falling off.
The Bank of England’s weekly statement shows a largely
increased percentage of reserve, the latter now standing at
over 50, as against 43 last week and less than 40 two weeks
ago. This increase is made up largely, of course, of receipts
of gold from this side, the amount of which has been in
creased by the shipment of $9,130,000 this week, making
a total of $20,630,000 since the movement began on April 2d.
The local money market continues easy.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2 % to 3 % . To-day’s rates on call were 2 % @ 3 % .
Commercial paper quoted at 4 3 4 @ 4 2 4 % for 60 to 90-day en
dorsements, 4 3 4 @ 4 2 4 % for prime 4 to 6 months’ single names
and 5 @ 5 % % for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1 ,907 ,44 0 and the percent
age of reserve to liabilities was 50.68, against 43.95 last week.
The rate of discount remains unchanged at 4 % , as fixed
March 17. The Bank of France shows a decrease of 10,500,
000 francs gold and an increase of 2,850,000 francs silver.
NEW YORK CITY CLEARING HOUSE BANKS.
1910.
A verages fo r
w eek e n d in g
A v r i l 10.
D iffe r e n c e s
from ,
;p r e v io u s w e e k .
1909.
1908.
A verages fo r
w eek e n d in g
A p r i l 17.
A verages fo r
iceek e n d in g
A p r i l 18.
S
8
S
S
120,350,000 124.350.000
Capital........................... 130.350.000
185.325.000
Surplus-------- --------108.097.400 159.984.000
Loans and discounts.. . 1,226,483,000 Dec. 15,795,600 1,327,793,300 1.195.728.900
18,414,600 Inc.
59,499,300
5,000
49,118,400
Circulation....................
Net deposits_________ 1,212,402,800 Dec. 15,101,400 1,375,388,800 1.245.609.900
1,509,000 Tnc.
3,800
43,571,800
U. S. dcp. (Incl. above)
2,355,500
397,400 270,948,700 296,070,700
S p ec ie .......................... 248,011,900 Inc.
66,083,S00 Inc.
270,000
78,100,700
04,099,200
Legal tenders.......... —
btl S3
074,000 355.049.400 301,375,900
314.095.700 Inc.
Reserve held-.............
25% of deposits............ 303.115.700 Dec. 3,775,350 343,847,200 311,402,475
'm m
^Surplus reserve------
10,980,000 Inc.
4,449,350
11,202,200
49,973,425
Surplus, cxcl. U. S. dcp
11,372,250 Inc.
4,450,300
11,791,075
00,800,375
Mote.—The Clearing House now issues a statem e n t weekly showing th e ac tu al
condition of the banks on S atu rd a y morning as well as the above averages. These
tlgurcs, together w ith the returns of separate banks, also the sum m ary Issued by the
S tate Banking D epartm ent giving the condition of S tate banks and tru s t com panies
not reporting to the Clearing House, appear on the second page preceding.
F oreign E x c h a n g e . — The engagement of fully $10,600,000
gold this week for shipment to London and Brazil has not
entailed any appreciable decline in foreign exchange rates.
Lower money rates here and firmer discounts in London have
been a supporting influence.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 85 for sixty day and 4 8834 for sight. To-day's
actual rates for sterling cnchange were 4 8 4 3 0 @ 4 8440 for
sixty days, 4 8 7 7 5 @ 4 8780 for cheques and 4 8 8 1 0 @ 4 8820
for cables. Commercial on banks 4 8 4 @ 4 8410 and docu
ments for payment 4 8 3 % @ 4 8 4 % . Cotton for payment
4 8 3 2 4 @ 4 8 3 % and grain for payment 4 8 4 % @ 4 8424To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 192 4 ® 5 1 8 % less 1-16 for long and 5 1734 less 1 3 2 @
5 17 34 f ° r short. Germany bankers’ marks were 9 4 % @
94 13-16 for long and 95 3 -1 6 @ 9 5 3 4 less 1-32 for short. A m
sterdam bankers’ guilders were 40 31 @ 4 0 33 for short.
Exchange at Paris on London, 25f. 2534c.; week’s range,
25f. 2524c. high antl 25f. 23c. low.
Exchange at Berlin on London, 20m. 50pf.; week’s range,
20m . 5 0 % p f. high and 20m. 4 8 % p f. low.
The range of foreign exchange for the week follows:
_
S te r lin g , A c tu a l—
S ix ty D a y s .
High for the week___ 4 84 ?4
Low for the w e e k ___ 4 84 54
P a r is H a n k ers' F r a n c s —
High for tho w e e k ...5 18 54
Low for the w e e k 5 19 54 less 1-10
G e r m a n y H a n k e r s ’ M a r k s —
C h equ es.
C a b le s ,
4 8785
4 8760
4 88 54
4 88
5 16 H less 1-82
5 17 54less 1-32
5 16 54 less 3-32
5 17 54
High for the w e e k ...
Low for the w e e k __
04 13-10
04 54
95 5-10 less 1-32 95 54
95 3-10
0554
High for tho w e e k ...
Low for tho w e e k __
40 00
40
40 34
40 28
A m s te r d a m B a n k e r s ’ G u ild e r s —
40 30
40 31
The following are the rates for domestic exchange at the
undermentioned cities at the close of the week: Chicago, par;
Boston, 10c. per $1,000 discount. Charleston, buying, par;
selling, 1-10 premium. St. Paul, 60c. per $1,000 premium.
SanJFrancisco, 50c. per $1,000 premium. St. Louis, 30c.
1085
per $1,000 premium. Savannah, buying, 3-16c. discount;
selling, par. New Orleans, commercial, $1 per $1,000 dis
count; bank, 90c. per $1,000 premium. Montreal, 15 % c .
per $1,000 discount.
State and R ailroad B o n d s. — Sales of State bonds at the
Board $10,000 Virginia 6s deferred trust receipts at 4934Transactions in the market for railway and industrial
bonds have been limited in volume and the market practic
ally featureless. Prices are generally lower, especially for
convertibles, which, of course, have declined in sympathy
with shares. Among the latter are Atchison, Norfolk &
Western, Southern Pacific and Union Pacific. American
Telephone & Telegraph 4s, Wabash ref. and ext. 4s and
Reading 4s are also a point or more lower. On the other
hand Burlington & Quincy joint 4s, Inter.-M et. 434s and St.
Louis & San Francisco issues are fractionally higher.
U n ited S ta te s B o n d s. — No sales of Government bonds
have been reported at the Board this week. The following
are the daily closing quotations. F o r y e a r l y r a n g e se e t h i r d
p age fo llo w in g .
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,
1930 -----1930-------- ........ -coupon
1908-18— __ registered
1908-18... --------coupon
1925 -------1925-------- .......... coupon
1936-Panama Canal regls
1938.Panama Canal regls
I n ter e s t
P e r io d s
A p r il
A p r il
A p r il
A p r il
10
18
A p r il
19
20
21
Q—Jan
Q—Jan
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Nov
*10054
*10054
*10254
*10254
*11454
*11454
*10054
*10054
*10254
*10254
*11414
*11454
*100 54
*10054
*10054
*10054
*10214
*102 54
*11154
*11454
*10054
*10054
*10054
*10054
*10254
*10254
*11454
*11454
*10054
*10054
*10054
*10254
*10254
*11454
*11454
* 1 0 0 5 4 *10054
*10054 *10054
* This Is the price bid at the morning board; no
s a le
A p r il
22
*10054
*10054
*10054
*10254
*10254
*11454
*114 54
*100 54
*100 54
was made.
R ailroad and M iscellan eou s S to c k s. — The market for shares
has been dull and prices are lower. The advance noted,
last week continued through the short session on Saturday,
and at the opening on Monday many issues were substan
tially higher than our last quotations, but prices soon
weakened and the general tendency from day to day has
been towards a lower level. Only on Wednesday has there
been anything like urgent liquidation, however, and the
volume of business has dwindled far below recent average.
If there has been.any leader to the movement noted, that
distinction may properly be attributed to Steel common.
This stock declined a full 4 points on transactions which on
at least one day amounted to nearly 250,000 shares and for
the entire week have averaged about 1-3 the whole. A
list of other stocks which have been more or less conspicuous
includes Union Pacific, Reading and the Interboro-Metropolitan issues. The latter have been the strong features of the
market— the preferred being the only active stock which
closes higher than last week.
F o r d a i l y v o lu m e o f b u s i n e s s se e p a g e 1093.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
W eek e n d in g A p r i l
*1
S a le s !
22. j
W eek .
R a n g e f o r W e ek .
L o w e s t.
Atcli Top & S Fe rights. 24,170 1-32 Apr
300 S3 Apr
Batopllas Mining........ ...
28115 Apr
Cent it So Am Teleg---200j 2 Apr
Cldc Terminal Transfer.
100 114 Apr
Colorado Fuel .t Iron, pf
Duluth-Sup Trac, prel
100 70 Apr
General Chemical..........
10 95 Apr
Preferred.....................
5010354 Apr
Kanawha & Mich rets..
870 7154 Apr
N Y N II & II subscrip
receipts, 1st paid........
800 14754 Apr
Norfolk A Western rights
570
54 Apr
St Joseph & Grand Isl .
100 20 Apr
Sears, Roebuck & Co__ 1,000:162 Apr
South Porto Rico Sug.pf
20 114 Apr
Western Maryland, pref.
100 6854 Apr
1
R a n g e s in c e J a n .
H ig h e s t.
19 3-32 Apr
20; S3 54 Apr
20 115 Apr
20 2 Apr
20 114 Apr
10 70 Apr
22 95 Apr
21 10354 Apr
10 78 Apr
21 149
16
54
19 20
22 105
20 114
18 0854
Apr
Apr
Apr
Apr
Apr
Apr
L o w e s t.
|
1.
H ig h e s t.
18 1-32
18: S2 54
20 115
20 2
20 110
10 70
22 91
21 103
19 5 2
Apr;
54
Mch S3 54
Jan 120
Jan 4
Feb 110
Apr 71
Apr 110
Jan 107
Feb, 78
Mch
Jan
Jan
Jan
Jan
Apr
Jan
Mcr
Apr
18
16
19
20
20
18
Jan 151
Apr;
54
Feb 20
Apr 10654
Apr 114
Apr 70
Mch
Mch
Apr
Apr
Mch
Mch
145
3-10
19
158
110
0854
O utside M arket. — Business in the market for outside se
curities this week was of small proportions, sagging prices
almost without exception being the chief characteristics.
Copper shares especially were lower. British Columbia
weakened from 6 % to b and recovered to 634. Butte Coali
tion sold up fractionally to 2334 but dropped to 21 % . Chino
Copper, after an early advance from 1324 to 14, moved down
to 1234) the final quotation to-day being 1 2 % . Gila lost
about half a point to 6, recovering finally to 634- Giroux
rose from 824 to 824> fell to 7 % and finished to-day at 8.
Greene Cananea advanced from 9 % to 1024 and sank to 9.
Miami, after an early improvement from 2434 to 2434 weak
ened to 2334- Nevada Consolidated rose from 2124 to 22
and dropped to 2034- Goldfield Consolidated, in sharp con
trast to the rest of the market, advanced on heavy dealings
from 7 11-16 to 8 5-16, easing off later to 8. The close to-day
was at 834- Nipissing moved up from 10 to 1034 and down
to 9J4, with the final quotation to-day 10. Industrials were
quiet. American Tobacco lost 10 points to 448, transactions
to-day resulting in a further loss to 442. Guggenheim Ex
ploration sold up from 190 to 198 and down to 195. Inter
continental Rubber ran down from 2 5 % to 2324> moving up
finally to 2 4 % . Standard Oil lost 2 points to 638, sold up
to 644 and back to 635, with a final recovery to 640. United
Cigar Mfrs. common declined from 7524 to 6934- Chesa
peake & Ohio “ rights” receded from 34 to 34- la bonds,
sales were reported of the new Baldwin Locomotive 5s at
9924 and 9934- N . Y . Telep. 434s fell from 9 7 % to 9 7 24Western Pacific 5s rose from 9 5 % to 9 5 % and sold to-day
at 9 5 % .
Outside quotations will be found on page 1093.
N ew Y o rk S to ck E x ch a n g e— S to ck R ecord, D aily, W eek ly an d Y early
O C C U P Y IN G T W O PA G ES
S T O C K S — H 1 0 If E S T
S a tu r d a y
A p r i l 16
M onday
A p r i l 18
AND
T u esday
A p r i l 19
LO W EST
SALE
W e d n e sd a y
A p r i l 20
P R IC E S .
T h u rsd a y
A p r i l 21
STOCKS
NEW YORK STOCK
EXCHANGE
S ales ot
F r id a y
A p r i l 22.
W eek
S h a re s
R an ge S in c e J a n u a r y 1.
O n b a s is o f 100-sh are lots
R an ge lo r P re v io u s
y e a r (1909)
H igh est.
H igh est.
Railroads
*30
38 *30
38 *30
38 *30
38
*30
38 *30 38
25 Fob 25 36 Mch
nn A rbor________
20 Mch
25 Mch
*70
73 *70
73 *70
73
71
71 *70
72 *70
72
100
Do pref..................._.
48% Feb 23 72% Mch 8
114% 115
114 115 111338 114% 113 11438 112% 113% 112% 11234 37,250 Atch Topeka & Santa Fe *110% Feb 8 124%
Jan 2
9 /% Jan
126% Oct
*10234 103% 102% 102% t!02% 1021- 102% 102% 102% 102% 102% 102%
500
Do pret___________
102% Apr 20 104% Jan 10 100% Jan 106-% J ’no
*130 131
130 130 130% 1301- *129% 130% *128 130 *128 130
550
123% Feb 8 137% Jan
107% Jan 143% Aug
112
111% 112
111 111
111% 111% 110% 111
110% 1103j 5,250 I jaltlmore & Ohio............ 108% Feb 7 119% Jan
1031- Feb 1 2 2 %J ’Jy
921- *91*2 92% *91
92% *91
9212 90 90
921- *91
100 ** Do pret________ . .
90 Feb 4 94 Jan
91 “ Nov 90 Apr)
80% 81
80% 81% 79-% 81% 79% 80% 79% 80 07,060 Brooklyn Rapid Transit. 68% Feb 7 82 Apr 18
«o% 82
67 Jan
82% J ’ne
183% 183% 183 18378 183% 183% +18231 183% 182 182
1815* 182
3,405
184%
Apr
14
176%
Feb
8
*165
Mch 189% Oct
*65
67 *65
67 *65
67 *6434 67
*64% 67 *6434 67
67 Feb 11 70 Jan '
00% Jan
7 0 %N ov
*285 300 *290 300 *285 300 *285 300 *285. 300 *285 300
312
Jan
280 Mch29
215 Feb 323% Sep
88
90
S8% 89
87% 88% 86% 88% 86-% 87% 85% 86% 36,245
77% Feb 8 92 Jan
65% Jan
91% Deo
54
54 *53
55 *53
541- *53
54 *50
54
5134 513.1
400
50% Apr 6 66% Jan
57% Feb
743j Apr
70 *_ _
70 *___ 70 *___ 70 *__
70 *
Do pret_____________
70
70 Nov
69 Apr 1 69 Apr 1
78% Mch
30
30
293i 293,, 29
30
2834 2S% *28% 29% 27% 28
1,872 hio Gt West trust c t f s .. 27 Feb 7 3678 Jan
31%
Dec
373s Dec
*54% 56
54% 65% 55% 55% *54% 56 *54
55 *53% 54%
526 Do pret trust c t t s ___
52 Feb 8 64% Jan 10
58% Dec
64% Dec
. 143-3 144% 1421- 144% 142% 144
142 143% 14134 142% 140*,, 141% 23,125 hlcago M'lw & St P a u l.. 139% Mch 31 1584s Jan
141 Feb 165*3 Sep
159% 159% 158% 159
15S% 159% 157% 158 *157% 158% *157% 158
900 Do pret_____________
Apr 5 172% Jan
1 5 8 %Mch 181 Aug
155% 155% 153% 1551.1 154 15434 153% 154% 153% 153% 151% 152% 3,690 blcago & North Western 156
150 Mch 31 182% Jan
173% Feb 198% Aug
*205 ___ *205 20978 *205 20978 *205 209 205 205 205 205
425 Do pret_____________ 205 Apr 21 225 Jan
208 Mch §230 Aug
*145 155 *145 155 *145 165 *145 155 *145 155 145 147
200 1 hie St P Minn & Omaha 145 Jan 19 162% Feb 23 148 Apr 167 Aug
*160 175 *160 175 *160 175 *160 170 *160 170 *160 170
Do pret_____________ § 1 7 0 Jan I §170% Feb 18 166% Jan §189 J ’ly
41- 4
' '*4
4
*4
5
4
4
*4
4% *4
4 Jan 28
200
638 Jan '
31- Dec
7 Jan
*0
8% 8% *834 101- *8% 10
10
*9
10
7% Feb 7 12% Jan
*8% 10
734 Dec
100 Do pret ctfs stmpd___
18% Jan
877s 8778 *85 87% *85
88% 88% *87
89
87% 84% 85
77 Jan 20 92% Mch 18
400
68 Jan
83% Dec
*100 110 *100 110 *100 110 *100 110 *100 110 +100 " 110
104 Jan 15 100 Jan 105 Men
100% Feb
60% 61% 60%! 61
*60% 61
59% 60% 59-% 5934
54% Feb 8 0534 Feb 25
591.1 3,150
51 Oct
68% Jan
*79
80 *79
80
78
79
79% 79% 79% 79% 79
78 Apr 19 83 Men 4
79
710 Do le t preferred.
761- Jan
86 May
*77% 78% *77
79 *77
78% *77% 781- *77
79% *77
Do 2d preferred.
81 Jan
79
78%
Apr
12
7 3 %Jan
84%
Jan
*172 1741- 173% 1731- 173% 17478 172 172 *172 175 *170 175
1,020
185 Jan 3 16734 Feb 200 Alay
168% Feb
*590 610 *590 610 *590 610 *590 610 590 590 *585 690
62
0
Too
590 Jan 19
Mch 21 535 Feb 680 Apr
44% 42% 44
42% 43
43
42% 43% 41% 423, 41
42% 19,700
36 Feb 8 52 Jan 3
37% Jan
51 Apr
79% 797s 80
81% 80% 80% 80 81
80 80% 80
1,900 Do pret.
80
7 9 %Jan
78% Feb 8 84 Jan 3
9 0 Feb
*59% 64 *593.i 64
61
61
*60
64 *60% 64 *60
170 1
64
61 Jan 17 66 Jan 27
56
Jan
7134
Aug
*15% 16 *15% J6% 15% 15% *14-% 16 *14% 151- *1434 15%
100 1
14 Feb 3 18% Jan 3
14% Nov
21 Jan
*27% 28% 28% 28% *28
29 *27
29 *26
28% *20
2734
300 Do pret___ . . . . . . . . .
24 Feb 3 34% Jan 4
28 Feb
36% Jan
30% 303,3 29% 30% 29% 293, 2834 29% 13,000 Lj'rlo
30-% 31% 30% 31
25% Feb
34%Jan 5
22% Mch 39 J ’ne
49% *48% 49% 48% 48% 48
4S% 47% 4753 463,i 403,, 1,200
Do 1st pref________
4l4t Feb 7 6234 Mch 8
36% Mch 5634 Aug §
397s *37%i 391- 38
*39
38 *37
38% *37
Do 2d pref_____
38% 37
37%
3238 Feb 8 42 Mch 8
800
28% Mch
46 Aug
138%
139
138%
140%
139% 140
137% 138
13733 139
136% 137% 17,310 <
*13044 J..n 19 1437s ja n 3 136% Feb 157% Aug
69% 70% 70
69% 70
71
68% 69
67% 08
6 3 %Feb 8
66% 67% 5,600 Iron Ore properties__
80% Jan 4
65% Mch 8 8 %Aug
*1534 16% *1534 163;S *1534 1633 *15-% 163s 15-% 10
21 C
15% 1534
14% Feb 4 18% Mch 2:
1 3 %Mov
21
Dec
*94
991- *95
991- *94
99% *___ 99%
vana Electric.
97% *93% 95
88% Jan 20 97% Apr 14
39 Feb 103 Deo
*___ 97% *94
97% 96
96 *___ 97% *__
973,i n
Do pref_____
95
160
94% Jan 25 99 Jail 4
83% Feb 100 Deo
*120% 124% *120% 124% *120%___ *120% 124% *120% 124% *120% 124% . . .
1
102 Feb 7 133 Mch 21
97 May 126 Aug
*101% ___ *101% ___ *101%
101% 101% *101%
Valley p3 ref.
*101%
100 1
88 Feb 7 101% Apr 15
88 Apr
941 - J ’no
141 141
141 141
140% 140% 139% 141
1391- 13934
1,100 rillnols Centraf.
138 Apr 1 147 Jan 5 137 Feb 102% Aug
22% 23% 2278 23% 227, 23% 22% 23% 22% 23% 22% 2234 53,950 4
J-nterbo
-nterboro-Metropolltan .
18 Feb 3 25% Jan 11
11 % Mch
2 5 %Deo
5S7S
57»,s 59
Do pret.
59-% 57% 583j 67,125
697s 5S34 601,, 6834 60% 59
45% Feb 8 02% Jan 12
36% Mch 63% Dec
23% 2338 23
23% *22% 231,] 22 22
22% 22% §21-34 2134
850 I
19 Feb 8 30 Jan 3
26% Nov
36 Apr
'42% 42% 43
43-% *42% 43
42
4238 *41
42% *39
Do
pref_____________
1.220
42
39 Feb ! 64% Jan 3
48 Sep
6 2 Apr
*74
*74
77
78 *74
78 *----- 78
76% 70% *74
100 1
78
76 Apr 5 80 Feb 18
7434 Feb
82 Sep
37*4 87% 37% 38% 37
37% 36% 36% *35
36% 3534 36% 3.200
33% Feb 8 44%Jan 3
37 Feb
E0% Aug
*67% 68 *67% 681- 6738 6738 67
67 *67
68
67
Do pref___________
67
300
657s
Apr
9
71
Jan
4
7 5 %Aug
6 7 %Feb
*20
22
20
20% *19
22 *20
22
20
20
ake Erie & Western__
19% 19%
710
19% Apr 22 2534 Jan 5
I 91- Feb
29% Aug
*59
60 *58
61 *57
60 *58
60
58
68 +55 60
100 - 2 Do pret________ . . .
55 Feb 8 6234 Jan 3
48 “ Jan
64% j ne
*67
70 *63
70 *67
70 *67
70 *67
70 ♦66 70 . . . . t
62 Feb 3 70% Apr 14
59 Jan
71 %Deo
151 151% 150% 152
150 150 149% 150
149% 150 1493* 150
3,900 L
141% Feb 3 15934 Jan 6 *121 Jan 1 6 2 %Aug
§136 136 §136% 136% §137 137 *130 137 *135 137 +135 137
85 jVIanhattan Elevated__ 134 Feb 9 139 Mch 8 137 Dec 1 5 3 %Jan
D-Actropolltan S treet...
15 Mch 2 25 Jan 14
42 Jan
18 J’ly
36
37
37
37
30
36% 35% 35% *35
30% *34
1,470 4
37
32 Apr 16 5334 Jan 4
61 Sep
65 Jan
68% 0S3,| *06
70 *65
70 *65
70
*65
70 *05
100 Do pref.
70
60% Apr 6 80 Feb 24
SI Mch 90 Jan
140 140 139% 140% 13938 13934 138% 139% 139 13938 138 13938 2,200 4
130% Jan 19 145 Mch 3 132% Jan 149% Jan
*148 153 *148 154 *147 153 *148 153 *146 153 150 150
100 b o pret_____________ 150 Jan 2 0 155% Mch 2 147 Apr 164% Aug
*8 !) 891 *89
891 *8812 ggi
Do leased line ctfs____ 89 Apr 4 92% Jail 3
89%
89%
9 4 Deo
89 J iy
44% 44% 433S 44% 43
44
42% 44% 42% 43% 4134 42% 48,000 Mo Kansas & Texas_____ 38 Feb 8 61% Jan 6
3 5 %Feb
50% Oct
74
74
* 731.1 74': *73I2 74
73% 73l2 *72
69% Jan 25 74% Jan 6
74
73
500 Do pref_____________
73
71 Feb
78%
Oct
7034 72
7012 701
704, 71% 694, 71
694, 6978 69% 693, 6,550 Missouri Pacific
05% Feb 3 73 Mch 9
05 Feb
77% Aug
*134% 140 *132 140 *135 140 *135 140
300 ^ a s h Chatt & St Louis. 130 Jan 25 139 Jan 8 122% Jan 142 Deo
135 135% *132 140
*63% 64l2 *63'2 65
Rys
ot
Mex
1st
pret
*6212
65
*62l2 65
65
*62% 65 *63
60 Feb 3 65% Mch 24
44% Apr
64 Dec
2S
281.) 28
Do 2d pref________
281- 2S38 28% 28
2438 Jan 15 28-%Jan 20
21 Dec
28% *2734 28% 2734 273, 3,000
26% May
1243S 125ls I 2 4 I3 125 ’ 123% 1244g 122% 124
121% 12248 25,825 N Y Central & H ud son .. 1 1 4 73 Fco 3 128 Mch 9 120% Feb 147% Aug
122% 123
♦68
60
58
58
N
Y
Chic
&
St
L
o
u
is
....
*57
59
*57
59
65% Jan 4
5778 Feb 3
*57 59 *57
58%
48% Mch 69 Nov
Do 1st pret__________ 10934 Jan 21 1 0 934 ‘Jan 21 100 Feb 100 Feb
*100 110
*82!2 87
Do 2d pref___________
♦8212 87
*8212 87
*82% 87 *82% 87
*S212 87
85% Apr 12 98 Jan 19
76% Apr
95 Nov
154%
15
>
155
156
N
Y
N
H
4
Hartford____
*154 155% *153 154% 5153% 153% 1,230
*151% 156
154% Jan 19 162 Mch 14 *154 Nov 1743| J ’no
4573 46
*45
4544 45
45
46
44 444, 3,390 N Y Ontario & Western.
45
45 45
43% Feb 3 50 Jan 6
42% Feb
55% J ’no
104 1044) 104 105l£ 103% 10134 10312 104
103% 1033, 10234 103
11,500 Norfolk & Western_____ 95 Jan 25 108% Mch 21
84% Jan 102 Deo
*90
93
*90
93
*90
93
*90
93
*88
93
100 Do adjustment pref__
90 90
8 8 Feb 2
91% Mch 16
85%
Mch
9 2 %J ’ly
137 137% 1361.1 1374 13512 136% 1345S 136
13433 135
133 134% 16,660 Northern P acltlc.______ *131% Jan 19 145% Jan 3 133% Feb 159% Aug
*109 111
*112 113
acific Coast Co_______ 107 Feb 15 118% Jan 12
♦111 114
500
76 Mch 1161- Dec
*95 108
*95 108
*95 108
*95 108 *95 108
*95 103
Do 1st pref__ _____
100 Mch §103 Sep
*109 114 *110 114 *111 113 *112 115 *112 114 *101 114
Do 2d pret________ 105 Feb 14 118 Jan 3
88 Mch 115 Deo
13713 1371: 136l2 1371: 136% 137
13533 136% 135% 136% 135% 135%
P enn sylvan ia__________ 129% Feb 8 138% Mch 9 126% Feb 151% Sep
102% 103
102 10312
101% 1023, 101% 1014,
6,500 Plttsb Cln Chto & St L ._
95 Feb 8 IO433 Mch 22
86% Jan
99% Deo
*114 115 *114 116 *114 116 *114 116 *114 116 *110 115
Do pref_____. . . . . . . . 114 Mch 10 116 Mch 1 104 Feb 116% Sep
I 6 7 I4 1677s 1604s 168% 1657s 1673s 16412 167
164% 165% 1623, 1644, 355,280
eading______________ *154 Jan 27 1721.1 Feb 18 118 Feb 173% Sep
*9012 92
1st pret______. . . . .
*90l2 9212 *90i2 921.. *90% 92% *904, 92% 917„ 92%
130
90% Feb 7 93% Feb 17
89 Mch 96 Aug
*1031.! 104l2 103% 1035, 103% 1031, 103 103 *102 105
2d pref________ . . .
800
9934 Jan 20 110% Jan 3
90 Feb 117% Deo
49
4944 474, 49% 4734 481
46% 4848 464, 4778 46% 47% 54,210 Rock Island Company__ 38% Jan 20 57% Jan 3
20% Feb
81 Deo
*91
‘ ' 2 9U2 9U 2 91
Do pref___ . . . ______
90
91
911
81 Jan 25
90
91%
90 91
"
94% Deo
67% Feb
92% Apr 9
704, *69
*69
72
*69
t
L
&
San
Fr.
1st
p
r
e
t..
72
*67
70%
71
70%
6348 Feb 3 73 Jan 6
65% Mch 74 Deo
511j 51i,i 5U2 52I2 50’s 61% 4912 504, 49% 50
Do 2d pref................... 45 Feb 8 C) Jan
3,650
49
49
36 Fob
00% Sep
3U, 30*2 3114 301, 301, 294, 30
31
St Louis Southwestern__
*29% 30
23% 29%
20% Feb
241- Feb 8 34% Jan
35-% Deo
744,|. 75% 75
7512 7443 7444 7344
*73% 74% 72% 73% 2,600 Do pref_____________
6937 Feb
4 7 %Jan
77% Jan
82 Dec
12712 12914 127% I 2 SI4 126% 128% 126% 127
1244, 1257s 99,170 Southern Pacific Co_____ 1197S Feb 8 *138% Jan
114% Feb 139% Aug
2 2 8 14 2914 28 28% 27% 2734 27% 27% 264, 27 7,810 Southern v tr cfs stmpd- 2544 Feb 7 3334 Jan
22 Feb
34 Aug
6544
65
65% 65
4 64
63%
do
6 0 Jan
63% 63% 2,610 Do pret
00 Feb 8 75 Jan
75% Deo
33'} 32% 3348 3212 33 32 32% 32% 32% 32
6,700 7|''exas & Pacific________
3 0 Feb
26% Feb 7 30*4 Jan
40% Aug
32%
64,
7
7
71
64, 64, 564,
12% Deo
1,109 JLhlrd Avenue (N Y )_ ..
7
6 Mch 10 19%Jan
42% Jan
*1012
if4
Toledo Railways & Light
if4
7 May 15% Jan
9% Apr 9 1534 Jan 12
4333
434, 43%
43% 43% *41% 44 *40
Toledo St L & Western_ 42 Feb 8 5433 Jan 4
43%
43 Feb
54%
Oct
654,
6 6 I4
66 *64
6612 66 6683 66
Do pret_____________
2,600
64% Feb
62% Feb 4 72% Jan 4
68
74% Jan
114% 114l2 114l4 H 4 I4 114l2 11412 *113 115
113 113 §113% 113%
695 Twin City Rapid Transit *111 Jan 25 117% Jan 3
97 J an 116% Deo
1867s 189% 186% 18778 185% 1873s 18434 186% 183% 185% 252,560 I Tnlon P a c if ic ...______ 178% Feb 8 2043j Jan 3 172% Feb 219 Aug
§97% 97% 97l2 97l2 97l2 9712 98
97 97
98
Do pref.......................
963, 967S 1,240 U
90 Feb 3 10334 Jan 7 *94 Mch 118% Aug
37
37
37
37
37
37
300 Unit Rys Inv’t of San Fr 33 Jan 25 42% Jan 3
30 Feb
47 Sep
*64
653, 047S 65
65
50% Jan 25 7238 ja n 8
1,050 Do pret____
60% Feb
77 Sep
22-% 227«
2233
213,
223,
1834 Fcb 3 2734 Jan 3
YITabash ____
15
Feb
2778 Deo
4943 4944 48% 4934 4712 4844 4578 47% 46% 47
Do pret_________
4544 46% 21,720 'V
3934 Feb 8
61 Jan 3
41 Fob
6134 J ’no
49% 4914
West Md rects 4th paid.
45 Feb 8 64% Mch 12 *21 Oct
56 Deo
483
4
♦49* *4*9%
*47
49
4912 48% 4878 4678 43
46
3,000 West Maryland R y . . . _ _ 48 Apr 22 64%Mch 12
47
*4% 5
412
*4
414 414 418
4% *4
600 Wheeling & Lake E rie..
4 Mch 7 10 Jan 3
5
5 J ’ly 12 %Jan
*9
*9
*9
*9
Do 1st pref____
*9
10i2 ♦9
2573
Jan
9 Jan 31 23 Jan 3
16% j ’ly
*548 534 *548 534
*5% 5%
47„ 578
534
600 Do 2d pref..........
47S Apr 22 13% Jan 3
6% J ’ty 16 %Jan
5312 *51
*49% 52
*51
53% *49% 63
*49% 53
300 Wisconsin Central
3578 Jan
50
50
03% Apr
45% Feb 4
50%Mch
A
*88%
*88%
♦100 110 *100 110 *100 110 *100 110
*100 110
111 1121 112l21121-
200
112 112
102's 10234
P
101%102
68,220
R
100 100
921
*68
2,100
74%
1284g 1287g
283S 281
6
4
4
,
6
4
3
,
3244
*6%
*10 41317s 4334 11 *10
*934 11 *10
657g 6544
66
%
188 1885g
66
22
1012 4'4
22
21% 22% 21%
*53S 10
%
104%
5% 5%
6,000
*68
*10 11
S
1.100
20% 21% 8.000
100
10
10%
B A N K S A N D TR U ST COM PANIES— B R O K E R S' Q UO TATIO N S.
Banks
b id
A sk
Banks
B id
A sk
N e w Y o rk
Chatham . . 325 335
A e tn a _____ 176 180 Chelsea E x ! 200
America §1.. 620
. . . . C hem ical_ 445 455
Amer Exch. t248
__ Citizens’ Ctl 160 165
Audubon . . ___ 127 City.............. 405 412%
Battery P k . 120
130 Coal & Iron 150
165
B ow ery!__ 376
...
. . . . Colonial ! _ 350
BronxBoroU 300
340
. . . . Columbia 11- 320
210 Commerce . f 209 T215
Bronx N a t. 200
Bryant Pk ! 155
160 Corn Ex 1|__ 322% 327%
Butch & Dr 140
150 East R iver. 120
130
Century §]__ 170
175 Fidelity !__ 165
175
Chase . . .
465 Fifth A v e !. 4300 4500
430
•Bid and a ked prices; no sales were made on this
t Solo at Stoolr Exchange or at auction this week.
Banks
B id
A sk
Banks
B id
A sk
Banks
B id
A sk
Banks
Fifth
. , 300 350 Jefferson f l..
Prod Exch !
175 Nassau D__ 240
F irst__ . . . 900 920 L ib e r t y .... 62*5**
New N eth’d 200 220** R e se r v e __
Seaboard . .
14th StH___ 150 165 Lincoln___ 400 4*2*5** NowYorkCo 750
F o u rth ___ fl99 T200 M anhattan! 330 350 New York. 320 3*3*0** Second ____
S h er m a n ...
G allatin __ 360 360 Mark’t&Ful 255 265 N’ht &Day! 225
Garfield . . . 200 300 Mech&Met’s 270 275 19th Ward.
4*2*0*’ State ! ___
Germ-Am 1] 140
12th VVard.
150 M ercantile. 160 170 N orthern_ 11*0*0*
Germ’n Exfl 450 465 Merch Exch 160
Pacific!____ 230 2*4*0* 23d W a r d Germania !_ 550 675 Merchants'. 175 1*8*1 * P ark ............ 450 455 Union Exc.
Greenwich §[ 255 265 Metropolis ! 390 410 People’s
280 295 Wash H ’ts !
Hanover__ 635
Metropol ’nfl 200
Phe n ix ____ 200 210 West Side fl
Imp & Trad 560 b i s ' Mt M orris!. 250 2*6*0 * P laza!_____ 625
YorkvlUo ! .
Irving N Ex 205 2 1 0 Mutual !._ _ 280 290
day. $ Ex-rlghts. i Less than 100 shares. 1|Stato banks, a Ex-dlvldend and rights. 0 New
It First Installment paid,
n Sold at private salo at this price.
e 2d paid.
l/3d paid.
B id
A tk
170
115
390
400
135
275
180
125
290 *
155
1*4*0**
180 190*
275
650
500
stock.
New York Stock Eecord—Concluded—Page 2
A pr . 23 1910. J
ST< X I K S — H IO i B S X
S a tu r d a y
A p r i l 16.
M onday
A p r i l 18.
AND
LO W SST
W ednesday
A prU . 20.
T uesday
A p r i l 19.
bALH
T lilC U S
T h u rsd a y
A p r i l 21.
F r id a y
A p r i l 22.
S ales of,
die
W eek
S h a r e s.
STOCKS
NEW YORK STOCK
EXCHANGE
*248
*10%
39
7573
*40%
H a n o t S in c e J a n u a r y 1
O n b a sis o f 100-s/kjre to n
L ow est
industrials? Allscollaneou;
+248
10% 10%
360 A-llis-Chalmers __
Do prei___
37 37
700
73% 743., 198,300 Amalgamated Copper
450 Amer Agricultural Chem.
47 *43 47 $40% 46% *46 48
Do pref____
*98 108 *90 103 *97 103
39 3934 38% 30% *33% 39% *33 383, 5,400 American lieet Sugar__
100 Do pref_____
*92 95% *92 95% *92 95 *92 95110% 10% 10% 10'.; 3,300 American Can___
1113 1073 n
11
74 74*2 2,000 Do pref_____
757s 757s 75ls 7573 75 75
63% 64*4 023, 6.334 02% 63
5,510 American Car & Foundry
04% 05
4(H) Do pref______
117 117 *114 117% 117 117 *115 117-%
60 66% 2,900 American Cotton O il...
*37 68% 063., 68% 07 07
309 Do pref__________
105 100 100 106 100 103 *102 io.y
American Express__ .
290 *275 290 *275 290 *270 290
7
*53, 7
*0% 7
100 American Hide & Leather
*7
7' j *7
71- *6% 7% 7
35% 36 *35% 30
35 363, 2,909 Do pref____________
*38% 3S7s 38 383.! 37 38
20% 263. 2,200 American Ice Securities..
27% 27% 271- 2734 27 27% 27 27% 27 27
13% 13% 1,120 American Linseed_____
15
15 15 *14% 15% 14% 14% 14 It
30% 30V> 1,105 Do pref____________
401,| 40% 39% 40% 38 38% *37 38% *37 39
50 50% 2,909 American Locomotive__
52% 53
51% 53% 51% 523), 60% 51% 50% 51
102 Do pref____________
*112ia 113 113 113 *112 114 *112% 114 *112 li t *112% 113%
6% 0
0
788 American Malt Corp___
6% 6% 6% 6% 0% 0% *6
*0 " 7
38 38
37% 38
38 38
38 38
1,120 Do pref____________
38 38
*37I2 39
88% 88% *88 88% *87 88
88 8.8% *88 89
300 Amer Smelters Sec pret 13
*87 88
81% 82% 129,720 Amer Smelt-.ng& Relinin
84 8GI4 83% 80% 83% 8434 817S 84% 813., 83
10634 107 107 107 107 107 *100% 107 106%. 1001- 1053.1 10531 1,350 Do pref____________
American snuff________
*250 300 *250 300 *250 300 *250 300 *250 300 *250 300
Do pref____________
*9S 102 *98 102 *98 100 *90 100 *93 100 ♦97'o 100
G312 G3% 62 63% 02% 0!
02% 627x 013, 013.t 60% 60'
2,700 Amer Steel Found (new).
120 1203; 125 120% 124 125 123% 12434 *123'3 12434 123 123
4,109 American Sugar Ucllnin^
*122 124 *122 124 *122 121 +122 123% *121% 123 122 122
100 Do pref____________
133 133 138 138% 1373. 1381.) 137 1373., 136-3, 13 7 1301., 130% 5,509 American Teteph & Teleg
9734 973.1 97 97% *90 98 *97 98
03 93
97 97
1,150 American Tobac (new).pf
3S12 38% *38 39
38% 38% 37% 38 *37 3734 *37 371800 American Woolen______
*100 101 100% 100% *997s 1003., 9934100 100 100
900 Do pref____________
99% 99'3
4G12 471- 453.1 47,% 41% 47
45% 46% 447s 453S 44% 45 17,125 dAnacondaCopper P a r i 25
31 32 *31 32 *30 313.1 30 31 $30 30 $28 28
2,120 IJethlehem Steel______
*
I> Do pref__________
(to :<
00 *
693j
00 K
60 *
*150 153 149% 1491- *149% 153 *148 153 *148 152 144% 145 "
400 Brooklyn Union Gas___
*1212 15 *121- 15 *12% 14
12% 12% *12
15
15 *12
100 Brunswick Term & Ky See
Butterick Co_______ . . .
33
*3034 33 *303, 33
45 ‘ 45">, 443.1 46
44%
43 45% 4333 44% 42% 45 52,830 / ventral Leather______
Do prel__________
103 10S3s *1071- 108% 108 108 *107 108%. *107 108% *107 1081400
42 421.t 41s 42
40% 413s 397s 41% 40 40% 38-% 39% 5,309 Colorado Tue: & iron__
1434 12 13
143., *13
*13
1434 13% 13% *13 1434 *13
755 Col <fc Hock Coal & Iron.
30c. 30c
300 Comstock l'unuci. P a r $2
144 144% 143 144% 142% 143% 142 143 142 143 140 142
8,100 Consolidated Gas (N Y).
103, 17 *16% 17% 10% 10% 2,0(H) Corn Froducts Relining..
17
17
17% 17% 17 17
10 Do pref_______ . . . __
*77% 79 §7734 7734 *77 783, *77 78 *77 78 *77 78
55 55 *53 60
55 55
50 60
300 Crex Carpet___________
*50 62 *55 02
30'., 30 *4 30% 30% 30 30% 2,400 Distillers* Securities Corp
*31 321- 313,1 313| 30% 31
200 Federal Mining & Smelt’g
40 41 *30 50 *30 60 *30 45 *30 45 *30 44
65 05 *05 75 *00 70 *63 75
08 08
69 69
300 Do pref____________
*151 153% 152 152 151% 151% 150 151 149% 150 149 1491- 1,700 General Electric_______
§45 45
04! 2 943., 94% 953.! 94% 94% 04 9434 94% 95
04% 94% 3,700 | lit Harvester stk tr ctfs
*12212 123 *122l-> 123 *122 %123 122% 122% +121% 122% 122% 122%
200 A Do prof stk tr ctfs__
*534 6%
6% %
*6
0
0% 6
0
0
GOO Int Mer Marine stk tr ctfs
<4 634
19% 1934 19-3 19% 18% 19
20 20
*20 20-% 20 20
800 Do pref_________
14 *13
14 +13 14 *13
14
14
13% 13% *13
*13
100 International Paper____
52 52
52% 52% 52 52 *52 53 *52 54
52 52
500 Do pref_________ ___
1734 *47
45% 45% *45 40
47 47% 40% 47
47
48
2,100 Iuternat Steam Pump__
*84 80
85% 85%. $84% 84% *82 85 *83 85 *82 85
155 Do pref____________
10231 103% 1031.1 103% 103 103% 101% 103 *10 1 %102% 102 102
3,400 Laclede Gas (St L) com ..
Mackay Companies____
*87 90% *87 9011 *87 90% *87 90% *88 90% *88 901.,
773., 773.1 *70 771771•> 77%. *70 78 *76 78 *70 78
200 Do pref____________
*100 109 109 109 109 109 109 109 *108 109 *108% 109
800 \Tational B iscuit_____
*122
*122*-> 124 *122 123% *122
14 IN Do p rel_________
5122% 122% *122
*223', 231- *2 1 % 24 *22 23% 22 22
22 22% 22 22
909 Nat Enamel'g & Stainp'g
Do pref____________
*S2 05 *32 05
83'- 84
82% 83% S23s 823., 82 82% 81 8134 81 811- 4,300 National Lead________ _
50 Do pref____________
$108 108 §1071- 107% *107% 109 *107% 109 *107% 109 *107% 109
7934 80% 79% 79% 78 793.1 77 77
1,185 New York Air Brake___
*82 841- si
81
77 77
77% 77% *75 77% *70% 77% 74% 74% 74% 74% 1,101 North American Co new
203., 293j *29 31
28V, 28V,
300 |_)ac'.llc Mai'__________
*20% 31 *30 31 *29 31
363.1 37 *30% 39
38% 301400 A acltlc Telep & Teleg..
*37 373, 371.1 37% *30% 40
110% 110% 109% 10934 1,850 People’s G L & C (Chic).
l l l i 2 111% 1113.1 112 111% 111% 110% 111
Philadelphia Co ( itts'i'b)
*100 ion* *100 101% *99% 101% *99% 101% *99% 101% *99% ion21% 2134 22 22% *21 22
20% 20% 20 201., 19% 19.3 3,150 Pittsburgh Coal Co____
72lo 73 +71 7434 *71 73 §73 73
*78 75 *73 75
41% 41% 41% 413« 1,450 Pressed Stec' Car______
43!2 437,; 43% 44 *43% 44
43 43
*103 104 *102 104 *102 104 *102 104 102% 1023)j *101 102
100 Do pref____________
*102 193 192 192 191 191% 190% 19033 *190% 192 190% 190%
009 Pullman C o m p a n y ......
4
4
*3
*311 4
*3
*3
4
*3
4
Quicksilver Mining____ _
*3
4
*27s 33.1 *2% 33. *273 33j *27s 33.1 *273 a**!
334
*423.1 44% 43 43% *42% 44% 42 42% *39% 43
40 40
700 I) all way Stec! Spring..
*103 1047ji *101 1017ft *101%> 1017,, *102% 10473 102% 102%*100% 104%
200 AV Do pret__________
30% 36% 30 30
38 383« 38 381.1 37% 37% 37 37
1,050 Republic Iron & Steel__
101l2 101% 101% 101% *99 101 *99 102 *99 101 +99 101
200 Do pref_______ _____
75% 7534 74 75% 2,805 Closs-Shetfleld Steel & Ir
78% 78% 77 77% 70 77
*7812 80
*118 121
*118 121V,
30% 30% *30 31
32 32% 31 3134 *30% 32
1,000 (/TennesseeCopper P a r i Z o
3U2 32
Texas Pacific Laud Trust
♦37 88 *80 88 *86 88 *80 88 *80 88 *85 88
*8 10
8
*8 10
9
9
8% *8
800 1 Villon Bag & Paper___
9
014 9%
Do pret.....................
200 U
64 04% *62% <34^2 *62% 65 $02 62 *62 64
*04 00
710 United Dry Goods Cos..
*114 115% 114 114 113% 113% +112% 115 *112 115 rll0% 114
193 Do prof____________
$109!2 1091a §109% 109% $109% 109% $109% 109% $109% 109% *108 109%
21 21
430 U S Cast I Pipe & Foundr
23 23 *21 24 *22 23 *21% 23 $23 23
70
125 Do pref____________
*7212 75
75% 75% $75 75 *73 76 *73 76 *72
800 United States Express..
*110 122 *110 122 115 1153., 114 114% 113% 113% 114 114
*79 81
300 U S Realty & Improvem’t
793.1 80
78% 783, *77% 79% *77 79 *75 77
7
*0
*0
7
*5
7
7
100 U S Reduction & Refining
7% *5% 7
♦5% 7
*17 27% ♦17 27% *17 27% *17 27% *17 27% $17 17
80 Do pref____________
44 44
42% 42% 1,730 United States Rubber__
42% 43
43% 44
44 41 *43 44
114 114 114 114 *113% 114% 113 113 113 113 112% 113
1,010 Do 1st pref_________
*78 80 $80 80 *79 80
316 Do 2d prof_________
79 79 *70% 79 *70% 80
87% 88
80 881., 85% 863, 83% 86% 83% 84-1, 82% 837, 979,100 United States Steel____
122% 122% 12178 122% 1207S 121% 120% 121
121% 121% 120% 120% 0,003 Do pref____________
4734 49
48*4 49% 48 48% 46% 48
45% 40% 451, 46% 24.992 dUtah Copper__ P a r 510
60 60% 58% 00% 58% 59% 58 69
58 58% 57% 68 12,150 Virginia Carolina Chem..
*124 125 +123 125 *123 125 *123 126 $122 122 123 123
120 Do pret____________
59 69
*50 59
59 59 ♦53 60 *58 Oil
53 58
300 Virginia Iron Coal & Coke
*18 22 *18 22 *18 22
18 18 *18 22 *18 22
110 Vulcan Detlnulng______
*05 75 *65 75 *65 75 *05
75 ♦04 71 *04 71
*177 180 178 178 *172 180 175 175 175 175 176% 176%
400 VX/'ells Fargo & Co____
71% 72 *71 73
72 72
*713,i 72
71% 71% 70% 71% 1,089 '7 estern Union Teleg..
65% 60% 64% 00
63 03% 5,500 Westlngh’seEI&Mfg assen
0812 0834 07% C734 66 60
Do 1st uref_________
*100 125 *118 125 *110 125 *118 124 *118 125 *115 130
*248
* ii
1134 11 11
*30 40
39 39170% 78% 76% 783)!
47U 47U 47 47
*05
39% 40% 39 4034
05 95 *92 95
*11% 11% 11% 11%
75% 76% 70 70
04% 05
04 65%
*117 117% *117 117%
*07% 08
67% 081*100 1003, *100 100%
1134 *10% 11% * 10 % 1134
39% 37% 37% *37 % 41
773S 74'., 76-3 74% 7534
1087
H a n y t tor t t e u o u s
Y e a r (1909)
L ow est
H io h esi
§270 Jan
0% Meh 24 15 Jan '
36 Feb 3 54%Jan i
70% Feb 8 90%Jan 3
4<)i- Feb s 49 Jan lo
9’Jij Apr 8
31% Feb 8 47%Jan lo
89% Jan 25 15 Meh 16
10 Feb 6 137s Jan 6
72 Feb ,i 81%Jan .
50% Feb 8 727g Jan 3
115 Feb / 120 Meh .
57 Feb i G9%Meh
101 Feb 1 106 Apr 19
0 Feb ,
8%Jan ;
32 Feb
47-3 Jail 3
20 Feb
29% Meh 8
13% Feb i
17%Jan 3
34% Feb 8 407s Jan 3
45% Feb i 02%Jan 3
110 Feb 7 115 Jan 7
5-'>3Jan 20
8 Feb .8
33 Jan 2o 43 Meh 21
80% Feb 8 90% Jan 3
75% Feb 8 104 Jan 3
104% Feb 7 112% Jan 3
277 Apr -1 277 Apr 4
95%Ja.i 13 08 Meh
54% Feb -i 66 Ja lu
118% Feb 7 128% Feb 18
119% Feb 10 124 Feb 28
134 Apr 2 143% Feb 2
91 Feb g 99% Meh 1
31 Ten 8 39% Men 18
99 Jail 25 104 Meh 7
J437s Apr 11 551 Jan (20% Feb 8 34 Jan 3
53 Feb 8.
143 l- ei) 8 104%Jan 3
12t- Feb 10 18%Jan 3
30% Feb b
i>5%Fell o 48%Jan 3
105% Feb 7 109% Meh 8
32%Feb 7 60 Jan 3
12 Apr 22 92%Jan 4
20c. Feb 1 36c. Jan 8
139 Feb 7 160-%Jan 3
161- Moh 30 23%Jan u
77% Apr 9 86%Jan 3
55 Apr 20 62% Feb 25
27 Feb . 3634 Jan lu
40 Mch22 60 Meh 3
53 Apr 6 88 Jan 3
147% Feb 7 lG07g Jan 6
12573 Jan 10
129 Jan 4
7%Jan 6
120 Feb 17
6%Meh 30
18% Feb 3
12% itch 28
48% Meh 28
42 Meh 28
82%Feb 7
■.7 Feb 7
85 Jan 1<
70 Feb 10
101 Feb 4
121 Feb 2;
20% Feb :
64%Jan
9034 Jan
116%Jan
91% Jan
78% Jan
115 Jan
125 Jan
28%Jan
7
17
10
6
10
6
17
3
74 Feb V
107 Jan 2o
12 Feb 8
73's Apr 9
28 Feb
33 Jan 26
105%Feo 3
97 Feb 8
18% Feb 7
36% Feb 8
109% Feb 5
188% Jan 12
89%Jan
110%Jan
95%Jan
84 Jan
43%Jan
46% Jan
110-%Jan
100%Jan
2734 Jan
5178 Jan
107%Jan
209 Jan
4
17
3
3
4
4
3
8
6
3
5
ll
3i^ Apr
35 " Feb
101 Feb
33% Feb
98% Feb
71% Feb
7
7 5173 Jan 3
7 107 Jan 17
8 4578 Jan 3
9 104%Jan 3
7 861-Jan 3
H834 Feb ’
$39 Apr 8 54038 Jan 3
S3 Feb 8 92 Meh 9
8 Apr 5 13%Jan 10
00% Apr 4 73 Jan 17
j;110% Apr 22 122 Jan 3
108% Apr 8 1137s jan 4
20% Apr 1 32 Jan 3
71 Apr 8 84 Jan 10
112 Ja~n 4 145 Jan 10
72 Feb 8 84% Jan 4
5% Meh30 l l Jan 14
21 Meh 1 29%Jan 3
35 Feb 7 52%Jan 3
108 Feb 5 110%Jan 10
70 Feb 7 84 Jan 3
75 Feb 8 91 Jan 3
116% Feb 7 125%Jan 3
512% Feb 8 560%Jan 0
47 Feb 3 61% Mch22
121 Feb 11 129% Jan 4
58 Apr 22 73 Jan 8
15 Feb 4 $25 Jan 15
60 Feb 1
152 Feb 8 al95 Jan 4
69 Feb 4 78% Meh 4
02 Feb 8 82%Jan 3
120 Jan 25 130 Feb 24
190 Jan $250 Nov
123, Feb
107a Aug
38 Feb
67% Nov
05 Feb
96% Nov
50 Aug
33% Jan
103 Aug
491- Aug
20% Jan
98 Oct
82 J an
71- Feb
15Vs Nov
711 - Feb
86 J’ne
761- Nov
44% Feb
107% Feb 124% Aug
42% Jan
79% Nov.
98 Jan 107% Nov
10 Sep
517.3 Aug
42% Apr
20 l se
47% J'ne
69% Aug
122 Aug
ill- J’ne
69 Sep
92% AUg
1051- Nov
11634 Aug
' 6% Feb
34 Feb
1S78 Jan
12 Feb
29 Jan
49 Feb
109% Feb
5%J’ly
38 Nov
SO Jan
7734 Feb
101 Jau
22> Meh
34 7S Deb
115% Nov
118 Nov
125 Feb
901- Feb
20 Feb
93*4 Jan
$3734 Feb
18% Meh
66-%NOV
136% Sep
131 Apr
145% Sep
101 May
40% Aug
1U7%J’ne
$543s Dec
36%'Sep
118 Jan
1778 Dec
104% Deo
19% Dec
25% Men 5134 Oct
9934 Apr 111 Sep
29 Feb
53 Dec
21% FeD
91% Dec
21c Apr 37c Oct
114% Feb 165% Jan
10% Feb
28% J’ne
73% Feb
93% J’ne
45 Jan
03 Dec
32% Feb
411- Jau
55 Meh 95%May
80 Feb
94 Aug
150% Feb 17234 Aug
$2 jan 11834 Dec
109% Jan 128 Dec
9 Oct
6%J’ly
18%J’ly
27%Jan
19%Jan
9%Meh
4734 Meh 6934 Aug
33% Feb
64% Nov
821- Jan
91 Sep
104 J’ne 113% Dec
69% Jan
901- Jan
1181- Jan
12% Feb
71% Feb
80 Feb
72 Jail
29% Feb
45% Nov
10U- Jail
991- Dec
19 Apr
77-%Dec
120 Sep
130 Sep
30V, Deo
94
AUg
10234 Apr
1 1334 Aug
30i- Feb
90 Feb
169 Jan
50 Aug
IID 4 Aug
200 Aug
3 Meh
32% Meh
977s Feb
16% Feb
67% Feb
68 Feb
10733 Feb
$331? Oct
801- Feb
9% Feb
00 Jan
115 Oct
t109 Sep
21% Feb
70 Meh
82 Feb
64 Feb
10 Meh
24 Feb
27 Feb
98 Jan
671- Feb
41% Feb
107 Feb
$39% Feb
40% Feb
111 Jan
67 Feb
0 Feb
300
04
74
110
97% Nov
871- J’ne
481- Nov
04 Oct
120 Aug
103 Dec
293), NOV
54V. Aug
10<J Aug
49% Sep
110 %J'ly
94% Oct
549 Jau
937,3 J ly
15% J'ne
81% J'ne
1251- Dec
114 Deo
3512 J'ne
87% Aug
§111 Deo
87 Sep
17%J ne
39% Aug
57% Aug
123% Aug
8'Ji- Aug
04% Oct
m oct
507% Nov
56% Dec
128 Dec
757,3 Sep
37% Nov
Jan 070 Dec
Feb
85% Nov
Feb
90 Aug
Meh 145 Sen
B A N K S A N D T R U S T C O M P A N IE S — B A N K E R S ' Q U O T A T IO N S .
Banks
H id
A sh
U ro o k ly n
U r o o k ly n
Broadway T 375
Brooklyn 1i.
Coney isl’iil! 150
First _____ 295
HlUsUleH__
Mnnufac'rs' 415
Mechanics '1 210
Montauk . .
Nassau ___ 215
Banks
145
155
125
115
Nat C ity ...
North Side \
People's —
Prosp’ctPk’:
Terminal $[
B id
A sk
295 305
150 180
___
158
150 109
___ 100
Trust Co s
.v Y C i t y
A t o r ____ 375
Bankers' Tr 090
B’way 'Tr.. 117
1 rust Go’s
N Y C ity
Carnegie . .
Central Tr.
Columbia . .
Commercial
Cora wealth
E m p ire__
Eqult’ble Tr
Farm LoiSc'l
F idelity__
I ul t o n ___
B id
A sk
1148
1020 1010
290 305
122% 1321;
150
a00 310
400 500
1800 1839
209 210
290
Trust Co’s
B id
Guar’ty Tr. 1864
Guardian Tr 175
H udson__ 175
Knlclcerb’kr t340%
Law T I &Tr 285
Lincoln Tr 145
Manhattan 390
Mercantile . 740
Metropol’t'n 525
Mutual___ 130
Mut Ah’net 130
NY LIte&Ti 1100
A sk
185
185
290
155
410
Trust Co’s
B id
N Y Trust. 645
Savoy_____ 0J
Standard Tr 400
TltleGuA Tr 525
Tr Co of Am 345
Union Trust 11359
US Mtg& Tr 475
Unit States. 1225
Van Norden 230
Washington 300
Westchcstei 150
Windsor . . 125
A sk
I rust Co’s
655
100
410
540
360
11361
485
Brooklyn Tr
Citizens'__
Flatbush_
Franklin__
Hamilton . .
1250
B id
A sk
425
135
200
220
270
445
145
215
230
B r o o k ly n
Kings Co . . 500
L Isl L & Tr 305 317
Nassau___ 175 185
140
People's__ 305
1120
135 Queens Co. 115 123
Wllllamsb’g —
90
Mild ami asked prices: no sales on tins day. 4Less than 100 shares. $Hx*rights. ; Ne.v stock c Ex-tllv an! rights. <1 Now quoted dollars pec share.
1 Sale at Stock Exchange or at auction this week
s Ex- stock dividend.
l|Uank3 marked with a paragraph (fl) are State banks
255
150
279
385
719
162
545
240
370
.
H io h e si
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
M . 1 1909, t h a
E x c h a n g e m e th o d o f q u o tin g b o n d s w a s c h a n g e d , a n d p r lo e s a r c n o w a l l — “ a n d i n te r e s t” — e x c e p t fo r in c o m e a n d d e f a u l t e d b e n d s .
BONDS
K. Y.
■c«-r
wO
STOCK EXCHANGE
P r ic e
F r id a y
A p r i l 23
W e e k ’s
R ange or
L a s t S a le
BONDS
Range
111J a nS iunac re y
P r ic e
iY id a u
A p r il 22
N. Y. STOCK EXCHANGE
Week ending A pril 22
B id
A s k 1L o w
H ig h N o L ow H ig h
U. S. Government
100% 1011* 101*4 Mar'10
U 3 2s consol registered.cfl03t)
100*4 101*4
100% ........;100% Feb’10
100*4 100*4
U S 2s consol coupon....til930
102% 103>a 102*3 Mar’10
1 0 1 34 10234
D 8 3 s registered............fclO.18
102%
101
34 103
.....
103
Mar’10
U 8 3s coupon.................. &1918
102*3 .Mar’10
102*3 102*s
D 8 3s cou small bonds..icl918
114% 116*4 114*3 Mar’l
114*3 116*.
U 8 4s registered...............1925
114% 115*3 114% Mar’10
11434 1 1 o34
U 8 4s coupon....................1925
1003* 101 101 Mar’09
D 8 Pan Can 10-30 yr 2s.fcl936
Foreign Government
96*4 26 9534 97
Argentine—Internal 5s of 1909 M-S t 96 Sale 96
Imperial Japanese Uoverum't
9534 26 94% 96*..
1 95 *3 Sale 95*3
Sterling loan 4 >28. ......... 1925
95*. 33 93*8 95*8
t 96 % 05% 95*4
2d sones 4%s............... 1925
92*,
j 92*4 sale 92*4
2 88% 95
Sterling loan 4 s ............ 1931
1101 *3 Sale 101 *3 102
38 101*3 104
Repub ol Cuba 5s exten debt..
97
1 97
97 * 97
1 1196% 97*4
San Paulo (Brazil) trust 5s 1919
t 99 Sale 99
99*3 10 97% 99%
U 8 ol .Mexico s I g 5s of 1899
90*4...... 90 *s 90*4_ 27 94*4 97*8
Gold 4s of 1904............... 1954
h e s e a r e y r ic e s o n t h e b a s i s o/ $5 to a .
State ami City Securities
101*4 Sale 101*8 101*4 158 J01 101%
N Y City—4%s reots.........1990
99% Sale 90% 09% 139 99 100%
4% Corporate Stock........1959
99% 9934 99 *3 99 *-. 25 98*8 100*3
4% Corporate sto c k __ 1958 M
New 4 %s.............................1957At 108*3 Sale 108*3 108*.. 21 107% 109*8
New 4 %s............................ 1917A1 103*4 103*u 103*3 Apr’lo
103*4 103%
108*3 108*4 1083a i.08% *9 108 110
4%% Corporate Stock ..1957 M
103 *3 Sale 103*3 103*3 12 102*3 104
4 %%assessmt bonds__ 1917
........ 99 *• 99**8 99 *3 3 99 100%
4°o Corporate Stock__ 1957 M
1 i.3%J’ne’09
N Y State—Highway 4s.. 1958 NI
102*4 Jan ’09
103 *a
SO Carolina 4 %s 20-40....... 1933 J
96
90*3 94a4 Mar’10
94% 114%
Tenn new sottleuieut 3 s ..1913 J
90 *8Jan ’10
90*8 90*8
' Virginia fund debt 2 -3 s...l9 9 l J
45 50
49 *3 49 *3
43
56
6s deferred Brown Bros otfs.
itailroud
a lauamu Cent S e e So Ky
xXiaba .Midi S e e At Coast Lino
Albany to Susa S e e Del to Hud
Allegheny Valley S e e Penn Kit
Alleg <& West s e e Bun K & P
77 79
78 Apr’10
77 83*3
Ann Arbor 1st g 4s........ /tl995 %-J
9b *8 101
Atoll Tib 8 if’e—Gen g 4s. 1995 A-O 98*4 Sale 98*4 99
99% 100
Registered.......................1995 A-O ........ 99 100 Mar’10
91*8 91*8
91
96
Adjustment g 4s..........A-1995 Nov- ........ 91
92 Jau’10
92
92
Registered................ A1995 Nov90*a 9034 91*i
90% 94%
Stamped..................... M995 M-N 90
1 13*3 117
Conv 4s issue of 1909...1935 J-D 111*4 112 113*3 113%
110*3 122*8
Couv g 4s........................ 1955 J-B 111>4 Sale 111*4 114*8
102*8 104*4
Conv 4s (when iss) 1I....190U J-D 10 2 7s sale 102*8 103*..
112 122%
114*3
10-year conv g 6s ........1917 J-J-* 112 Sale 112
98*g 9 8 %
98*8 Jan’io
Debentures 4s Series J . 1912 F-A
98*3 Peb’10
98*3 98%
Series K....................... 1913 F-A
97 Apr’10
97
97*4
East Okla l)iv 1st g 4 s ..1928 M-S
03%
92
94%
93*3 02
Short Dine 1st 4s g ........1958 J-J
112 %109*3 Apr’10
109% 109*3
8 i<o Pres 9b Pli 1st g o s.1942 Al-S
Atl Knox & N S e e B & N
Atlantic Coast 1st g 4s.7i.1952 M-S 04% Sale 94 *3 9434 10 93% 96*8
Ala Mid 1st gu gold 6 s ..1928 M-N 107*8...... 109 Sop’09
94 ....... 90*4 J’ne’09
B runs* W is t g u g 4 s ..1938 J-J
Charles <fe Sav 1st g 7 s..1930 J-J 1323« ......
92 Sale 92
92*8 85 91*4 95%
L to N coll g 48............. 01952 M-N 122
....... 1*27 J’ne’09
Sav P & W 1st gold 6s..1934 A-0
112 112
1st gold 5s....................1934 A-0 109 112*3 1 1 2 Mar’10
98
97 *3 Mar’10
97*3 97*3
Sil Sp Oca to G gug 4s ..1918 J - J 97
Atlantic to Dan v S e e Soutli Ky
Austin * N W S e e Sou Paeillc
9034 Sale 903s 9034
90% 92*8
3 *28.1926 J-J
B alt<SjOhioprlorig
91*4 Oct ’09
Registered.............../tl925 %-J
97*3 100*4
Gold 4 s .............
7tl948 A-0 99*4 Salo 98% 99 *3
9934 Peb’10
98 99%
Registered................./il948 tl-J ........ 9S34 120
Oct ’01
Pitts Juno 1st gold 6s ... 1922 J - J 111*3........
87 89
89*8 Mar 10
89*8 89*8
PJun& M Div ls t g 3 *381925 M-N ........
90*4 9034
90% 93
P B E <Xs W Va Sys rer 4sl941 M-N 90*3 90**,)
90% 90*8 60*4
90*8 91
8outliw Div 1st g 3 *3S... 1925 J-J ........
90
89*3 Apr’ 10
89*3 90*3
Registered................ A1925 %-J 98 *s 103
Oen Ohio it 1st cg4*as..l930 M-S 108 112 103 J’ue'09
112*4 Mar’10
n2% li3*3
01 Dor & W con 1st g 5s 1933 A-O
.... 105*8 Peb’ov
bloiion Riv 1st gu g o s ..1919 F-A 100*3
100 114 112 Deo’09
Ohio River RR 1st g 6 s.1936 J-D 105
110 112 Nov’09
General gold 5s............1937 A-0
.... ll9*a Mar’04
Pitts Clev * Tol 1st g Os 1922 A-O 111
98*3 Sep ’09
98 ....
P itts* West l s t g 4 s.. .1917 J-J
100 Nov’04
Stat Isl Ry 1st g u g 4 *28 1943 J-D
Beech Creek S e e N 1’ C «fe H
Believ <fc Car s e e Illinois Cent
Bklyu * hlontauk S e e Doug 1
Bruns <Jb West S e e Atl Coast D
Butlalo N Y * Erie S e e Erie
113*8 114*4
115*3 114*4, lfeb’10
Bullalo R to P gen g 6s ... 1937 M-S
109*8 109*8
Consol 4*as..................... 1957 M-N 108 109*3 109‘*8 Jan ’10
99*8 99*a
99 e Jau ’io
All * West l s t g 4s gu.,1908 A-O 99
Cl * Mali 1st gu g 5s__ 1943 J-J 1 1 1 .... 103 J’iy ’08
116*3 117
j,Rocli* Pitts 1st g Os...1921 F-A 116% 118 117 -Apr’10
Aug
' *™ 120 *«Aug’09
Consol 1st g Os............1922 J-D l l o ”>4 117
7iJ Mar’10
M ar
72 72
.. 71
Bull * Susq 1st ret g 4S.K1951 J -J
Bur C R to N S e e 0 It 1 * P
.......
105
105*4
Apr’10
...J
104%
lan
So
1
st
ext
O
s............1913
J-J
C)2d 6s...............................1913 M-S 101 *4 S id e 101*4 A0l% l l ,1 0 1 *8 l105%
0 1%
Registered....................1913 M-S ........101 *3 1 U034 May’07
Carb to Shawn S e e 111 Cent
Carolina Cent S e e Seab Air D
Carthage to Ail S e e N Y C & H
Ced R la FdbN S e e BC R * N
Cen Brancn Ry S e e Mo Pao
Cent ot Ua RR 1st g 6s..pl045 F-A 113*3 114 116*3 Pob’09
Consol gold 5s................ 1945 M-N ........ 100*3 107*3 Apr’10 .... 107*3 109
113 Apr’06
Registered....................1945 M-N ........108
85 Apr ’ 10 ...J 84*a 88
85% 87
1st pret income g 5s__ pl945 Oct
85 | i 84
85
88
85*8 67
Stamped ..............................
80*8 4 79
80 %Sale 80
84%
2u proi income g 6s....p l9 4 5 Oct
79 Apr’10 ...J 79
79 80
83%
2d piet Income g 5s stamped
76
82
75
SO 78 Apr’10 ....!
3d prot income g 5s....p l045
80% Mar’10 ....' 80
♦78 82
81
3d pref income g 5s stamped.
1
W e e k E n d in g A p r i l 2 2
Cent of Ga KH—( C o n )
Chatt Div purmon g 4s.1951 J-D
Mac to Nor Div 1st g 5s.1946 J-J
Mid Ga to Atl Div 6s__ 1947 J-J
Mobile Div ls t g 5s....... 1946 J-J
Cen RR db B ot Ga col g os 1937 M-N
Cent ot N J geu’i gold 5 s.1987 J-J
Registered.................A1987
Am Dock <fc Imp gu os.. 1921 t i
De to Hud R gen gug 5s 1920 j . j
Deli to Wilks B Coal 6 s..1912 M-N
Con ext guar 4%s....pl910 Q-M
N Y & Doug Br gen g 4s 1941 M-S
Cent Paciiio S e e So Pacilio Co
CeutVermont 1st gu 94.8.61920 Q-P
Clias to bav s e e Atl Coast Dine
d ies to Ohio gold Os........ alO ll A-O
Gen funding & impt 5s. 1929 J-J
1st consol g 5s........ ........1939 M-N
Registered....................1939 M-N
General gold 4 %s........... 1992 M-S
Registered....................1992 M-S
Convertible 4%s(whis).1930 F-A
Sii; Samiy 1st 4 s ............ 1944 J-D
Coal Riv Ity 1st gu 4s ..1946 J-D
Craig Valley la tg 6»___1940 J-J
Potts Creek Br 1st 4s.. 1946 J-J
it A A DlV 1st con g 4s.. 1989 J-J
2d consol g 4s............... 1989 J-J
Warm Spr Val 1st g 6s..1941 M-S
Greenbrier Ry 1st gug is ’40 M-N
Clue to Alt itlt rot g 3 s...1949 A-O
R a i l w a y 1st lien 3*38 ... 1950 J-J
Registered....................I 960 J-J
Ohio Burl to y —Deu v D 4s 1922 F-A
Illinois Div 3 *3 S............. 1949 J-J
Registered................... 1949 J-J
Ills Div 4 s ......................1949 J.J
Iowa Div sink lund 6s..1919 A-O
Sinking fund 4s............1919 A-O
Nebraska Extension 4s.1927 M-N
Registered....................1927 M-N
Southwestern Div 4 s....1921 M-S
Joint bonds S e c Great North
Debenture 5s.................. 1913 M-N
General 4s....................1958 MS
Han A St Jos consol 6s..1911 M-S
Cine A E 111ret A imp g 4s 1956 J-J
1st consol g 6s ................ 1934 A-O
Genoral consol 1st 6s .... 1937 M-N
Registered....................1937 M-N
Clue A iml U Ry 1 st 68.1930 J-J
Chicago A Erie s e e Erie
Chic In A Douisv ret 6s...1947 J-j
Refunding goldos..........1947 J-J
Eouisv N A A Cli 1st Os.1910 J-J
Ohio Ind A Sou 50-yr 4s..1950 J-J
Clue Mil a St P term g 6s 1914 J-J
General g 4s series A..«1989 J-J
Registered..................91989 %-J
Generalg 3 *38 series B.elU89 J-J
25-yr deben 4 s................ 1934 J-J
Chic A D Su Div g o s....1921 J-J
CJlic A Mo ltiv Div o s...1926 J-J
Ohio A P W 1st g 5s.......1921 J-J
Dak A Gt So g 6s............1916 J.J
Par A Sou assu g 6s.......1924 J.J
EaCrosse A D 1st 5s__ 1919 J-J
Mineral Point Div 5 s....1910 J-J
So Minn Div 1st 6s ........ 1910 J-J
Wis A M lunD ivg 6s__ 1921 J-J
Mil A No 1st M D 6 s....1910 J-D
1st consol 6s ................ 1913 J-D
Chic A North w cons 7s__ 1915 U-F
Extension 4s........ 1886-1926 P-A
Registered..........1880-1926 P-A
General goiu 3*39............1987 M-N
Registered................ pl987 %-P
Sinking fund Os...1879-1929 A-O
Registered..........1879-1929 A-O
Sinking lund 6 s...1879-1929 A-O
Registered..........1879-1929 A-O
Debenture os.................. 1921 A-0
Registered....................1921 A-O
Sinking lund deb os.......1933 M-N
Registered....................1933 M-N
Mil E S A West 1st g 6s 1921 ivl-S
Ext A Imp sfund g 5s 1929 F-A
Ashland Div 1st g 6 s..1925 M-S
Mich Div 1st g 6s........ 1924 J-J
Incomes.......................1911 M-N
Ohio Rock Isl A Pac 6 s...1917 J-J
Registered....................1917 J-J
General gold 4s...............1988 J.J
Registered....................1988 J.J
Refunding g 4 s ............. 1934 A-O
Coll trust Series H 4s ..1910 M-N
J 4s.............................. 1912 M-N
M is.............................. 1915 M-N
N 4s.............................. 1916 M-N
O 4s...............................1917 M-N
P 4s.............................. 1918 M-N
Ohio R 1 A Pac RR 4 s..2002 M-N
Registered...................2002 M-N
Bur U R A N— ls tg 58.1934 A-O
Registered................ 1934 A-O
CRIP A N W lstgu 58.1921 A-O
M A St D 1st gu g 7S..1927 J-J)
Choc Ok A G gen g 6s .olOlU J-J
Consol gold os..............1952 M-N
Kook A Des M 1st os__ 1923 A-O
Ohio St E A N O S e e 111 Cent
Clue St E A Pitts S e e Penn Co
Ohio St P M A O cou 6 s...1030 J-D
Cons 6s reduced to 3*38.1030 J-D
W e e k ’s
R ange or
L a s t S a le
A sk Low
92
105*a .
105*3.
107
105
1.24% S a le
124 Sale
100
101
100
100
Range
S in c e
January 1
H ig h N o
lo w
H ig h
90% Sep ’09
104*g J’no'08
116 Nov’05
110 Jan ’io
103 Jan’ll
123% 124%
124
124
108% Mar’ 10
110 l l o
103 103
123*3 125*3
123 125
108 108%
101% Apr’10
100
100
101
100
86
87
86
100% ..
101
101
102 104% 104*2 104*3
........113 113
113
........113% 112 % J a n T o
101*3 102% 1 01 *3 10 1 %
........ 102% 105 Apr'Ob
9 4 %Sal e 94
) 4% 304!
83% 87% 89 Apr'10
83
87
t9% Nov’OJ
106 __ 110 .1111) ’09
85 *» 90
90 J au ’09
97% 98% 97% Apr'10
88
94
93 f’ob’lo
101 .... 113% I'eu’OO
91% ....
91% Mar ’10
....... 74% 74% Apr’lo
72 Sale 72
72%
76 Oct ’09
99 ....... 99 Apr’10
........ 88
87 *3 8 7%
........ 88
91% Deo’Ob
99 %Sale 99
99%
104%...... 108 *3 Oct ’09
98% 99* 99 Apf’lO
98% 99
98% 98%
101 ‘a Milt’09
98% .
90 Mar’ll)
101% 101*3 101*3 101%
98 %Salo 98
Uo %
101%...... 101% 101%
81 83
127 127 'Apr TO
111
1 10 %
111
114 Maj’oU
lib ........ 112 Mar’10
126
127% 127 *< Apr ’lo
114 Dcc’ob
luu l(Jb% 10b Mar’10
94% 94 Apr TO
103 108^4 103 Mai To
98% Sale 987
99 %
103 *• Oct ’08
bo ^ 90
86% Apr’10
92
92% 92
92
106% 107 107*, Mar'10
108 *3 .
____ 108%
107% 108‘s Apr 10
103% 103%
119 .
137*3 J'ly’99
105% .
107 Oct ’09
100 .
100*6 bob ’ 10
100 Nov’UO
106%__ 107 %Mar’! 0
100%___ 1 0 0 %Apr’10
105 %__ 104% Mar'll)
111%112 Il2*a Mar’ 10
96% 99 101 Jau ’K)
94 __ 10 0 %J’ly ’0 .)
87
87 *3 87 % 87 %
U3‘s Apr’09
i l l ...
111
ill
110% ...
lll% N ov’09
107 109*3 108 Mar 10
105 106 106 Mar’ 10
........ 107% 105 Mar’lo
10 6 %fe b ’io
109 113*3 111 Apr ’1 u
........110% 109 J'iy’08
114% .... 117% Mar’ 10
109 113 112% Mar’lo
120% .... 142*3 Feb ’02
119% .... 123*8 Apr '09
100 *3 ___ 103% Muy’OO
110....111% 110*3 Apr’10
........ 112% 113% Aug’uu
96 %bale 96*8 96%
08% Pub’ 10
89 % S a lo
89% 91*3
07 J’iy ’01
97%....... 07 J’no’09
95 ........ 04 %Jan ’ 10
94%........ 04 Due’09
93%....... 04% l'Ob’ 10
92%........ 0 3 % A u g ’OO
79%
79 %Salo 79
au% Pel) TO
llo 116 113%-Mai’10
120*3 Mur’03
H I Nov’05
1 0 6 *3.
86
101%
100%
87
101 101%
103 'e 106 %
113 114%
112% 112%
101% K3%
94
87
89
97% 09
95 03
91
0 1*3
72% '.7
72
98% 100
87
80%
98% 100%
99 100
08% 100*4
98% 99
101 102*,
97% 100
101 102
82% 86%
127 127
110% 113
112 112
127% 129%
100 100%
93 % 04
103 103%
98% 100%
86% 89
91% 93%
107% 108
108% 110%
108 108%
103% 103%
100% 100%
107% 108
100% 100%
104% 105%
112% 113
09% 101
87% 89%
i ’i i " iYi%
108 109*
106 106
105 106
106% 106*
109 %111•
116% 117%
112%112%
Uo% 09
98% 98%
89% 92
94% 94%
94% *y*4 %
78% 83%
80% 80%
119% 114 %
102 105*8 102 Aug’08
____DJb %108 Mar’10 ..'108 110
..........1 0 1 Pob’lO ..' 103% 104
1 U0
124 125 125 Apr’10 .... 126
90%....... 93 duo’03
127%
IU18C£liLAN£Oll3 BONUS—Continued 011 Next 1’ago.
S tr e e t lla ilw n y
Brooklyn Rap Tr g 6s.......1945 A-O
1st refund conv g 4s__ 2002 J.J
Bk City 1st cou 5s.1916.1941 J-J
Bk <4 Co & S con gu g 5 s.1941 M-N
Bklyn Un El l s t g 4-5S.1950 F-A
Stamped guar 4-5s....l950 F-A
Kings Co El 1st g 4s....1949 E-A
Stamped guar 4 s ........1949 P-A
Nassau Elec gu g 4s ....1961 J-J
Conn Ry<fc D 1st & ref g4%s’51 J-J
Stamped guar 4%s.........1951 J-J
Det United 1st con g 4%a.l932 J-J
Havana Elec consolg 6 s.1952 F-A
Inter-Met coll 4%s............ 1966 A-O
Inter Rap T 3-yr conv 6s. 1911 M-N
45-year 6s Series A .......1952 M-N
Internat Trao coll tr 4s..1949 J-J
Manila Eleo 1st & coll 6s. 1953 M-S
103%
103% 103% 103
84% Sale 84% 86%
........ 104 103 Mar’10
90 %Mar’09
........102
100% 102 100*3 101%
101 Apr’10
........101
84% Apr’IO
........ 85
84 %Sale 84% 85
77% Sale 77% 77%
102 ...... 102 %Mar’ll)
101%...... 101% Apr’IO
82% 82%
82
83
94
94 Sale 94
81% Sale 80% 82
108% Sale 102% 102%
102% Sale 102% 102%
67% Mar'10
........ 67
98 Muj’06
*N o p rice P n d a y ; la te s t this week. llP lat. a D u e Ja u
Street Hallway
102 104% Met St Ry gen col tr g 5s. 1997
Ref g 4 s.......................... 2002
82 87
103 104
Bway<& 7th A v lsto g S s 1943
Col to 9th Av 1st gu g 53.1993
Dex Av Jb P P 1st gug 5s 1993
100% 103
IU1 103
Third Ave RR con gu 4s 2000
CentTr Co cortfs stmpd...
84 85
83% 85%
Third Ave Ry 1st g 5s..1937
77% 82
N Orl Ry <&Dt gen 4%s ..1935
102% 102% St Jos R yE tH to P ls t g 6 s ’37
101% 102
St Paul City Cab cou g 6s.1937
82
82% Tri-City Ry & Dt 1st s f 5S.1923
93 94
Underground of Don 6 s... 1920
78% 83%
4%s................................. 1933
102 104
Income 6s.......................1948
101% 103% Union El (Ohio) 1st g 5 s..1945
67% 67% United ltys St D 1st g 48.1934
United RRs San P rsf 4s. 1927
d D ue A p r
a D ue M ay a D u s J ’n« ADuo J ’ly
80
82 % 31
48% Apr’10
100
100 '12
100 101 %Jail TO ...
07 Apr TO
4
64
64
64% 23
64% 64
105% 107% 105% 100% 2
87 Mar’10
........ 87
08 Nov’08
105 108 107% Deo ’09
97% 977e 07% 97% 1
98 Apr’09
100
86% 85% 85 Apr’10
38% Sale 38% 38% ” ’i
84 Oct ’08
____ 90
90
81 %Mar’ 10
70% ai
09% 70% 70
E-A 80
A-0 ♦48
J-D 100
M-S 96
M-S 96
J-J
65
J-J
J-J
M-N
J-J
A-0
M-N
J.J
A-O
J-J
A-0
kD u e A ug
S2
50
oDue Oct
j> Duo N ov
75% 78%
48 54
99 102
101 102
96% 99
04 09%
63% 68%
106% 108%
87
87
97
99
83% 86
31% 40
81% 83
70 74
a O ption S a ls
APB. 23 1910. j
V .
BONDS
Y. STOCK EXCHANGE
Wkkk Ending April 22
P ric e
F r id a y
A p r i l 32
BONDS
N. Y. 8TOCK EXCHANGE
Week Ending A pril 22
W eekfs
R a n g e or
L a st S a le
H igh
B id
A sk Loro
Ohio St P M <fe O—{ C o i l )
127 Feb’10
Ch St P & Minn IstgOs 1918 M-N 124 ... . 1295g
May’09
Nor Wlaoonsln 1st 0s...1930 J-J 124 ....
Apr’10
St P <fe S City 1st g 08...1919 A-0 112 Vi 114 114
1 1 Mar’10
Chic & West Ind gen g 6s 91032 Q-M 103 112 1 U
0®
8
90=8
........
90
7
e
Consol 50-year 4a........... 1952 J. J
Chic<& W Mich s e e Pere Marq
Choo O <&Gulf S e e C K I <fe P
113 Oct. ’00
Oln 11 <fe D 2d gold 4 Vs...1937 J-J
100 108 Mar’10
Cin D <fc I 1st gu g 6a. ..1941 Wl-N 101
85 .......
C Kind <fc FtW lstg u 4 se .’23 M-N 81
87V Jau’lO
85
Cln I & VV 1st gu g 48.1953 J-J ........107
107 Mar’10
Ind Dec <fc W 1st g 5 s...1935 J-J
107ViDeo’O2
1st guar gold 5a.1........ 1936 J-J
C I St L <fe O S e e C C C & St 1
Oln S & C S e e O O O St b
Oleariiehi & Mali S e e B K .fe P
94** 96
9 4 \ 85
Olev Cin C & St L gen g 4s 1993
........ 94
94 Vi Aug’09
Cairo Dlv 1st gold 4 s....1939
94*s
Jau’lO
Cln VV<fc M Div 1st g 48.1991
90
933< 93Vi Apr’10
St L Dlv 1st col tr g 4a..1990
91 Oct ’07
90
Registered................... 1990
90 Dec’09
........ 93
Spr * Col Div 1st g 4s ..1940
98 Sep ’00
........ 91
W VV Vai Div Istg 4 s...l9 4 0
1047t .... 106*4 Feb ’ 10
C 1 St b<fe C consol Os.. 1920
98*4
98 V
95
9b
V
i
1st gold 4 s......... .....tel930
97
98 Fob’10
Hogmtered............ Ic1939
109*8 Sep ’09
Cin S <&Cl con 1st g 5s. .1928
109*4 Deo’09
107 Hi.
0 C C Jb 1 consol 7s........ 1914
Consol sink fund 7a__ 1914
125 Nov’09
General consolgold 0a.1934
Liegislered................ 1934
94 J’ly ’08
Ind Bt & W lstpret 48.1940
O In d * VV 1 stp f68...<11938
9334 Apr’10
94
Peo <&East 1st con 4 s...1940
04 Mar’lo
67
Income 48.....................1990
Clev <&Marietta S e e Penn UR
Olev <fe Pitts S e e Penn Co
76V
Col Midlaud 1st g 4s........ 1947 J-J ........... 77*8 75*4
90*4
Colorado & Sou 1st g 4a...1929 F-A 90 90 V1 90
97 V
Refund <fc ext 4 Vis........ 1935 M-N 97 *4 Sale 97
113
Ft W & Den C 1st g 0s.. 1921 J-D 113 Sale 113
Colum & Greenv S e e So lty
Ool & Hook Val S e e llock Val
Col & Tol S e e Hock Val
Col Conn & Term S e e N <fe W
Conn cfc Pas Rive 1st g 4a.1943 A-0
96 Jan ’09
Cuba RU 1st 60-yr 5 g...,1952 J-J
ife Gt So s e e C M <&St P
D ak
alias <&Waco S e e M K <&T
Del Lack & Western—
111*8 111 Mar’10
Morrlsifc Essex lst7 a ... 1914 M-N 110
113*4 Feb’10
1st consol guar 78....... 1916 J-D 1123b.........
...................
127 J’ue’05
J-D
Registered................ 1915
04 Sep '09
1st ref gu g 3 V28.......... 2000 J-D 1..................
11434
U V ......... 11434
N V Lack <fc VV 1st 08... 1921 J-J 107
........
1
1
0
*«Feb’10
F-A
Construction 5s..........1923
98 V 100 9939 09 V
Term & Improve 4b__ 1923 M-N ...................
102*8 Feb'03
Warren 1st ref gu g 3 Vis. 2000 F-A 16 V 120 120
Mar’10
Del So Hud 1st Pa Dlv 7s.l917 M-S 1...................
Aug’01
Registered................... 1917 M-S 0934 Sale 149
99
094,
10-yr conv deb 4s..........1910 J-D
101*4
101V
102
Apr’10
1st liou equip g 4V 8___1922 J- J 98=8 9.37e 9834 99
1st <&ref 4 s ..................... 1943 M-N 03 Hale I 03
93
Alb <&Sus conv 3 Vs.......1940 A-O
1128=8 128®*
Kona * Saratoga 1st 7a.1921 M-N 125
Del ltiv RR Bridge S e e Pa RU
93V 97
96V
06V
Deny <fe R Gr 1st con g 48.1930
........104 V 104 V Mac’10
Consol gold 4 Vs............. 1930
101 103'V 102V Apr’10
Dnprovement gold 6a...1928
03*8 Sale
1st & refunding 68.........1955
Rio Gr J uno 1st uu g 58.1939
Rio gr So le t gold 4s__ 1940
Guaranteed..................1940
Rio Gr West 1st g 4a__ 1939
Mge and col trust 4sA.1949
j
UtahCeutlatgug48 <tl917
Des Mol »fe Ft D s e e M <fe St L
Dos Mol Un liy 1st g 6 s ..1917
Dot & Mack le t lien g 4a.1996
Gold 4 s ...........................1995
Dot So—O S Dlv let g 48.1941
DulJj Iron Range IstO s..1037
Registered.......................1937
2d 0s................................1910
Dul Short Lino S ea Nor Pao
Dul So Shore & Atl g 6 s ..1937
IPastof Minn &’e«StPM<fcM
Juast Ten Va <fe Ga S e e So lty
Elgin Jol& East 1st g 5 s.1941
1Elm Cort & N o S e e beh & N V
Erie 1st consol gold 7a....1920
N Y <fe Erie lsto x tg 4 s 1947
2d ext gold 6s...............1919
3d ext gold 4 Vj3........... 1923
4th ext gold 5s............. 1920
5th ext gold 4s............. 1928
N Y L E & W 1st g fd 78.1920
Erie 1st con g 4s prior..1990
Regis tored................ 1990
1st consol gen lien g 4sl990
■ Registered................ 1990
Penn coll tr g 4s........1951
60-year conv 4a A __ 1963
do
Series B.1953
Bull N Y«fe Erie 1st 7s..1910
C hic* Erie 1st gold 6a. .1982
Clev ib Malien Val g 6s. 1938
Long Dock consol g Os..1935
Coal* RU 1st cur guOa. 1022
Dock ib Imp 1st cur Os..1913
N V ib Greeu L gu g 6 s.1940
N Y Sua A W 1st rer 5s. 1037
2d gold 4 Vs..................1937
General gold 6s........... 1940
Teruiluallst gold 6s. ..1943
ltegis 36,000 each...1943
100*4 Mar’IO ....
Mid RR Of hi J 1st g Os. 1910
. 100V 101V Mar’101. . . .
W ilk So Ea lstgugO s.1942
102 ........
10678 Salb 1057* 106 V 2
04*4 60V 65 V Apr’IO
........ 10 1
101 Apr’IO
97 ........ 96=8 Sep ’08
105 107 V 105 V Mar’IO
100 ........ 61V Get ’01
........ 10 1
100 Oct ’00
103 V ........ 103=4 Jau ’lO
97 ........ 97 Mar’lo ....
101 103 104 V Sop’09
113
112 114 113
4
80 89 7s 90 Mar’lo
100 V Sals 10 0 V 1 0 0 V 8
09=4 100a4 99 7a Apr’IO
91
i
........ 91V 91
105 108*4
* N o prlco F rid ay ; la te st bid and asked th is w eek,
a D ue J a n
P r ic e
F r id a y
A p r i l 22
H id
114 11438
111 111
90*8 93 V
100 V 108
87
105
87 V
107
94V 90V
94 V 94 V
03 V 9634
105 V 105 V
98 9.3 V
98 98
92 V 94 V
02
07
75 V 813b
06 a4 97 V
07 90
112 V 114
110V111*4
113V 114 V
113 116 V
110 V 110 V
903b 101
120
1207b
99 102
1017a 103
083b 100 V
93
97 V
126=8 130*4
Erie <fe Pitts
See
Penn Co
108
-J 110
-0 100
-J
-0
-0
ASK L ow
115
Range
S in c e
January 1
W e e k ’s
R a n g e or
L a s t Sal-e
H i gn
114 Oct ’09
115 Dec’09
101
101
114 Apr'05
0o J ’ue’08
IT'argo <fe So S e e Ch M * St P
1- lint & Pere M Acs Pere Mar
Fla C ib Penln S e e Sea Air Line
Fort St U D Co 1st g 4 Vs. 1941 -J 90*, ........ 105 Mar’98
86 87
88
86 Mat’10
Ft W & Rio Gr 1st g 4 s...1928 -J 80
/ *al Har 4 S A S e e So Pac Co!
97 J ’l y ’09
VTalH* Hof 1882 1st 5S.1913 -0 9iV 100
Georgia <fe Ala S e e sea A Line
Ga Car & Nor S e e sea A Line
Georgia Pacific S e e -So Ky
Gila V G & Nor S e e So Pao Co
Gouv & Oswegat S e e N Y Cent
Grand Kap& Ind see Penn RR
Gray’s Pt Term S e e St L S W
96 Sale 95=4 9038 17-3 95
97*8
Gt Nor—O B<fe Qcoll tr 4s 1921 J-J
9434 0b7s
96
95 V 96a4
Registered.*.................. 10 2 1 Q-J
0034
100
100
100 100
St Paul M <fe Man 4s__ 1933 J-J
127 128=4
1st consol gold 6s........ 1933 J-J 120 V 12734 17 Apr’10
12 Ape’00
Registered................ 1933 J-J
105 V 'lb'?"V
Reduced to gold 4 Vs 1933 J-J 104=» " " " 1.05 V Mar’IO
10834 J ’ne’09
Registered..............1933 J-J
101V Eeu’lO
101 101V
Dakota ext gold 6s__ 1910 M-N 10UV
98 V 98 V
98 100V
Mont ext 1st gold 4 s..1937 J-D 97 loo
100 *4 Oct ’00
Kegistered.................1937 J-D 96
9934 Jan ’lu
99a4 9934
KMinnNorDivlst g 4sl948 A-O 96
14 v Feu’l 0 ..1 1 1 3 114 V
Minn Union l s t g 6 s..1922 J-J 114 V 116
29 Feb ’ 10 . . 1 2 9 129
Mont C 1st gu g 6 s....1937 J-J 126 130
30*4 Mio’00
Registered.................1937 J-J
113V113V
1st guar gold 6s.......1937 J-J 113 114*4 i l 3 7s Apr’lo
W ill* 8 F 1st gold6s 1938 J-D 111 ........ 116 J ’ne’09
Greenbrier Ry S e e Ches * O
.
..
92
89
Apr’IO
87V 947s
G ulf* S 1 1st ret & t g 5s 61952 J-J
St Jo See C B * G
1
H an&
ousatonlo S e e W Y N H«fc 11
101
Sale 101
102 V 13 101 104
Hock Vai lstconsolg4 Vs.1999 J-J
100V Sep ’08
Registered.......................1999 J-J
05
05
Col <fc H V 1st ext g 4s.. 1948 A-O 05 ........ 1 95 Feb ’ 10
Col & Tol 1st ex 4 s .......1955 S’-A 96 ........ 00*4 Feu*00
Houst E * W Tex See So Pac
Houst <feTex Cen S e e So Pac Co1
10534 Jan ’ I n
10oa4 I05a4
11018 Central 1st g 4 s ..1951 J-J ♦ 106V
L111Registered....................1951
107V Apr’07
J-J
02
92 Ffcb’10
02
02
1st gold 3 Vs................... 1951 J-J
94 Sep ’09
Registered................... 1951 J-J
93 V May’00
Extended let g 3 Vs.......1951 A-0
80 J ’l y ’09
1st gold 3s sterling........ 1951 M-S
100
100
99*4 100a4
Coll Trust gold 4s..........1952 A-0 100
99 J’ne’09
Registered................... 1952 A-0
9734 09=,
98
08
1st ref 4 s ........................ 1955 M-N 9734 98
9034 Mar 10
99 V 100=8
L N O <fe Tex gold 4s ...1953 M-N 07 7s
09V 97 May'07
Registered................... 1953 M-N
1100 Apr’09
Cairo Bridge gold 4s__ 1960 J*D
87* 87 34 Apr’1C
3734 88 v
LouisvDiv&Term g3 Vs.1953 J - J
123 May’00
Middle D lvregos..........1921 F-A 106
73
7734 7734
78 V 77a4 Mar’lo
Omaha Div 1st g 3s.......1961 F-A
79 V Deo’08
St Louis D iv* term g 3s. 1961 J - J 73
Registered................... 1 9 5 1 !J-J
89 Feb ’ 10
Gold 3 Vs..................... 19 5 1 J-J
101 V Get ’99
Registered................ 19 5 1 J-J
Spring Div 1st g 3V s...1951' J-J 88 89 V 100 Nov’OO
Apr’IO
08 98
Western Lines 1st g 4s..1961 F-A 00
Bellev & Car 1st 6s.......1923 J-D 117V........ 21 Feb’09
I 90
Carb ib Shaw 1st g 4s...1932 M-S 95 ........ 09 i-eu’10
118' 119
Chic St Life N O g 6S...1951 J"1* 116 117 V 18 Mar’lo
18 Mar’IO
118 118
Registered................... 1951 J-D *110
90 Oct ’09
Gold 3 Vs.......................1951 J--D
97V 07 V
Mempli Dlv 1st g 4 s...1951 J -° ........ 07 V 97 V Mar’IO
98 J’ly ’08
St L Sou 1st gu g 4 s .... 1 9 3 1 .M-S 95 V 98
Ind B1 * West S e e C'CO * St L
97 Mar’lo
95
97 98
Ind 111 & la 1st g 4s........ 1960 J-J
. 109 V 100=8 Mar’IO
109 V 110
Int * Great Nor 1st g 0s ..1919 M-N
30 1003* 11234
2d gold 5s........................ 1909 M-S 112 Sale 111V U 2
Trust Co certfa.................... — 112 Sale 111V 112*8 102 10oa4 H 2V
20
23
25
35
_
26 Apr’IO
3d gold 4s........................ 1921 M‘s
1 0 4 100*4
104 V 104 V Apr 10
Iowa Central 1st gold 6s.. 1938 J *11
7 6 *»l 76v 76J4
74
77V
Gold 4s............................. 19 5 1 M-S
A & G K S ssL S d sM S
K ai
an ib Mich S e e Tol * o O
K O Ft S & M S e e St L * S F
K C <fc M R <fc B S e e St L <fc S F
Kan C ib Pacific s e e M K & T
72
72
74
72V
Kan City Sou 1st gold 3s..I960 A-O 72V 72
63 Oct ’00
Registered.......................1950 A-O
102
102
102
102 103
Ref & impt 5s Apr 1950........A-O
Kentucky Cent s e e L <b N
Keok ib Des Mo S e e O R I<feP
Knoxville * Ohio s e e So Ry I
Erie <fc W l s t g 6 s ..1937! J-J 1107s 111V 112 Apr’lo . . . . HIV
L ake
2d gold 5s.....................1941 J-J 106 V 107 100 V Mara 0 ...J 100 V
North Ohio 1st gu g 6 s..1945 A-O 107 109 V 109 Mar’IO __ ‘l o a v
L Slio & Mich S s e e N Y Cent1
,107 107=4 Mar’IO
107 V 108 V
Leh Val N Y 1st gu g 4 Vs.1940 J-J
107 Aug’OO
Registered.......................1940 J-J
90 V 97 V
Lehigh Val (Pa) cons g4s.2003 M-N ........ 97 V 97V AprHO
li0VH 5*4
Leh V Ter Ry 1st gu g 58 .19 41 A-O .. 01^. 115a4 n 5 a4 Feb’10
109 V Get ’09
Registered....................... 19 4 1 a -O
108 Nov’O0
Leh V Coal Co 1st gu g Ss.1933 J -J 107 V
06
9334 Mar’IO
03*4 95
L eh * N Y 1st guar g 4 s ..1945 M-S
Registered.......................1945 M-S
05V
101V Feb’10
El C <fe N 1st pf 0 a .......1914 A-0 102 V .
101*4 Sep ’00
Gold guar 5s................ 1914 A-0 100V.
Leh * Hud R s e e Cent of N J
L e h * Wilkesb S e e Cent of N J
Leroy <fc Cauey Val S e e M o P
bong Dock S e e Erie
112 Feb’10
Long Isl’d—1st con g 5s.*1931 Q-J 111V.
1st consol gold 4s........’*1931
96 V 9734
96 V Sale 90 V 00 V
General gold 4s.............-.1938
100 V lo o v
Ferry gold 4 Vs...............1922 M-S 98 101*8 100 V Feb ’ 10
99 V Oct ’06
Gold 4s.............................1932 J-D 93 07
93V 95
Uuilied gold 4 s ...............1949 M-S ........ 95 V 93 V Mar’IO
Debenture gold 6s.......... 19341J-D ........ 100a4 104 V Deo’08
ioivioiv
U
100V101V
101V 101V
M IS C E L L A N E O U S
tin s mid Electrio Light
Atlanta G L Co ls t g 5 s...1947 J-D
Bklyn U Gas 1st con g 6s. 1046 M-N
Dutfalo Gas 1st g Os.......... 1947 A-O
Columbus Gas 1st g 5 s....1032 J-J
Detroit City Gas g 6s.........1923 J-J
>Det Gas Co con 1st g 6 s...1918 F-A
KqG LN X 1st con g 6 s..1932 M-S
[Gustfe Elec Berg Co c g 6s. 1949 J-D
JUr Rap G LCo ls t g 6 s...1916 F-A
Hudson Co Gas 1st g 5 s..1049 M-N
IKau City (Mo) Gas 1st g 5s 1022 A-O
'Kings Co El L & P g 6s. ..1037 A-O
Purchase money 0s.........1997 A-O
Ed K111 Bku 1st eon g 4s 1939 J-J
(Lae Gas Lot Bt L 1st g 6a.«1010 V-F
Ref and ext 1st g 5s.......1934 A-0
llwaukoe Gas L 1st 4 s..1927 M-N
ewark Con Gas g 6s.......1948 J-D
1089
New ^ork Bond Record—Continued—Page 2
B O N D S — C o n t in u e d o n N e a t P a g e .
105 V ib'734
64
07
10 1
ioi".
Lbs v ib s v
1033410334
97
07
11 2
ii5
87 V 90
100 Hi lo5
09*4 io i
01
02 V
6 D a e Feb
Gas and Electrio Light
N Y G E L H & P g 6 s...1948 J-D 1 0 1 Salo 100V i o i v
8
Purchase money g 4s...1949 F-A 84 V Sale 84 V 84 V lb
Ed El 111 1st conv g 5s.. 1910 M-S,
10U Feb’Iq
1st consol gold 5s........1995 J-J 110 111V 111 Apr’lo
NYJiQElJLK&P Istcong5sl930 F-A ♦ 100 100 V 10 UV Mar’10
N Y «fe Rich Gas 1st g 6s. 1921 M-N
07 V J’l y ’00
Pat <&Pas G A E con g 5s. 1949 M-S 100
10434 Nov*05
Peo Gas <fc O 1st oon g 6s.1943 A-0
118 V 118*4 Mar’IO
Refunding gold 6s......... 1947 M-S 102 V 103 V 102 V Mar’lo
CUG-Lifc Cke lstg u g 5 s 1937 J-J 103 V 104 V 102 7s Apr’IO
Con G Co of Ch 1st gug 5s.’36 J-D 101 103 1 0 1 \ fjeu’l 0
Ind Nat Gas & Oil 30-yr 5s ’36 M-N
91V 04 V Aug’OO
Mu Fuel Gas 1st gu g 5s. 1947 M-N 100 101V 101 Mai’lo
Philadelphia Co conv 5s .. 1919 F-A 102 V ........ 102 V 102 V 10
Syracuse Lighting 1st g 5s.’51 J-D 09
LOO Mar’IO
Trenton G <fc El 1st g 5s..1949 M-s 103
110 May’05
Union Elco L<&P lstgOs.1932
96 J&n ’08
100
Westchester Light’g g 6s.l05O
101V 102 V Mar’00 ....
ii D ue A p r
« D ue M ay
* Due J ’ly
k D ue A ug q D ue Deo
100V 103*4
83
87
100
100*4
110 1UV
100*4 101*4
118 119
102 V *04
1027s 104*4
101V 102
.....................
10 1
10 1
102 105
100 100
......... —
s Option Sale
1090
IH)NI)S
k ,
N. Y. STOCK EXCHANGE I
vvkkk ending A pril 2a
Lon.2 Island—( C o n )
Guar ref sold 4s............ 1949 M-S
Bklyn & Mont 1 stgOs..1911 M-S
1st 5s................. 1911 M-S
A-O
M-S
i fit £ru---------- Q-J
LOUis uina A Ark 1st g 5s. 1927 M-S
Louisv A Nasnv gen g 68.1930 J -D
Gold 5s.............................1987 M-N
Umtied gold 4s............... 1940 J-J
Registered....................1940 J-J
Sink tunil gold 9s............1910 A-O
Col. trust gold os............1931 M-N
li 11 its .Nash 1st n 9s__ 1911' J -D
L Cm ife Lex void 4 *28. ..1931 M-N
N O A 51 1st void 9 s....1930 J-J
N O A M 2d gold 9s.......1930 J-J
Pensacola Div gold 9s...1920 M-S
St i. Div 1st gold 9s....... 1921 M-S
2 d gold 3s..................... 1980 M-S
Atl Knox A Cin div 4 s ..1955 M-N
All rvMOX A Nor 1st g 5sl94i .1 -O
Header Bdge ls ts Ig6s.l931 M-S
Ken lucky Cent gold 4s.. 1987 J-J
LA X A M A M 1st g4 *28 1945 M-S
LA N-South .VI )oint48.1952 J-J
N k'l.t-A » 1st gu g 5 s ...193" F-A
N A C Bdge gen gu g 4 *28 194 J-J
Pons A Atl 1st gu g 9 s..1921 F- 4
8 A X Ala con gu g 5s.. 1939 F-A
L A J eil Bdge Co gu g 4s.. 1945 M-S
LX A A Ch H ee C 1 ife L
ahon Coal H ee L S A M S
M anhnttan
lty consol4s. 1990 A-O
itoiristered.................1990 A-O
Stmpd tax exem pt..1990 A-O
McK’pl A B V Hee X V Cent
Mex Cent cons g 4s..........1911 J-J
1st cons mo g 3s........al939 J’ly
2d cons ino g 3s trust reota..
Mex Internat 1st con g 4s. 1977 M-S
Stamped guaranteed.. .1977 MS
Mex North 1st gold Os__ 191r J-D
Mich Cent H ee N Y Cent
Mid ot X J H ee Erie
Mil L S ife W H ee Cliio A N W
Mil A North Hee Ch M A 3t 1
Minu A St 1. 1st gold 7 s..1927 D
Pacilio Ex 1st gold 9 s...1921 A-O
South West Ex 1st g 7 s .1910 J -D
1st cousol gold 5s........... 1931 M-N
1st and return! gold 4s.. 1949 iYI-S
lies .'l A Ft L> 1st gu 4 s...’35 J-J
Minu A St L gu Hee B C U A N
M St PASHM con g 4 in tgu ’38
MS S 51 A A 1st g 4 Hit gu 1929
Minn Uii Hee St P 51 A.U
Mo Kan A Tex 1st g 4 s... 1090 J-D
2d gold 4s...................... q i09o F-A
1st ext gold 5s.................1944 M-N
1st A refund 4s...............2904 M-S
Gen s t 4*23..................1936 .1-J
St L l>iv 1st ret « 4s__ 2001 A-O
Dal A VVa 1st gu g 5 s...1940 51-N
Kail C A Pao 1st g 4 s... 1990 F-A
51o K A E 1st gu g 5 s...1942 A-O
M K A Ok 1st gu os.......1942 M-N
M K A Tot T 1st gu g 58.1912 M-S
SliorSh A So 1st gu g 5s. 1943 J
Tex A Okla 1st gug o s... 1943 51-S
Mo Pacitlc 1st coil g 9s ...1920 51-N
Trust gold 5s stamped.«1917 M-S
Registered................ al917 M-S
1st coll gold 5s................ 1920 F-A
40-year gold loan 4s.......1945 M-S
3d 7s extd at 4%............. 1938 M-N
1st A rof conv 5s lud pd. 195 M S
Cem Br lty 1st gu g 4S.1919 r-A
Ceu Branch U P 1Stg4s. 194s J-D
Leroy A C V A L ls tg 5s 1929 J J
Pac It ot 51o 1st ex g Is. 1938 F-A
2d extended gold 5s...193s J-J
St L 1r 51A Sgencong 5sl931 A-O
Gen con stamp gtd g 5s 1931 A-O
Umtied A ref gold 4s.. 1929 J-J
lUv A G Div 1st g 4 s..1933 M-N
Verdi V 1 A W 1st g 5S.1929 M- S
MobJ A K C 1st cons g os. 1953 J-J
Mob A Ohio new gold 9s..1927 J-D
1st extension gold 9s../il927 y-J
Generiu gold 4s........ ......1938 M-S
Moutgom Div 1st g 6 s..1947 F-A
St L A Cairo coll g 4 s.. e l 039
Guaranteed g 4s..........193j
Id A O coll 4s Hee Soutliern
Mohawk A 51al H e e N V CA H
Monongahela Kiv H ee B A o
Mont Cent H ee St P 51 A 51
Morgan’s La A T H ee S P Co
Morris A Essex S e e Del LAW
Chat A St L Ist7s.l913 J-J
N ash
1st consol gold 5s........ 192a A-O
Jasper Branch 1st g 6 s..1923 J-J
McM 51 VVA A1 1st 9s.. 1917 J- J
T A P Branch 1st 6 s....1917 J- J
Nash Flor A Shet H ee L A N
J
Nat Kys ot Mexpr L4W.si05<
Guar gen 4s.................... 1977 A-O
Nut or Mex prior lien 4*28.1920 J.J
1st consol 4s....................1951 A-O
New H A D H ee N Y N H A H
N J J uuo Kit H ee N Y Cent
N V Bkln A Man Bch H ee L 1
N Y Cent A ii Riv g 3*28.1997 J-J
liegistered....................1997 J-J
Deben g 4s..................... 1934 M-N
Lake Shore coll g 3 *28.. .1908 F-A
liegistered....................1008 F-A
SFeW 2ork Bond Secord—Continued-Page 8
IVob, LXXXX
RONDS
P r ic e
*■ 2
W e e k 's
Range
N. Y. STOCK EXCHANGE
F r id a y
| R a n g e or
S in c e
A p r il 22
L a s t H a le
Wkuk E nding Arm t 22
January l
liia
A sk Low
H ig n W
. o L o w H i n t l N Y Cent & 11 K—( C o n )
A sk Low
I llo h
L o w J /ig /i
94
96
96*4 Apr’10 .... I 99 109
‘Hell Cent coll g 3 *as___1998, F-A
80*2 80 Apr TO
7 9 \ 82*4
100*8
Keaistered.....................1998
F
80*a
79*
2
-Mur’10
7938 79*2
100
1 0 1 »HDec’08 .
Beech Creek 1st gu g 4e. 1930j J
...... 100 Nov’O:
105
110*4 h ov’06 .
liegistered.................. 1930i J
........102 Mai’04
103*4
105 Apr’07 .
2d gu gold -,s................ 1936 T
107
163**8
109 Nov’06 .
85
BeeohCr Ext 1st 2 3 *28 61951
96
97 Nov’09
Cart ife Ad 1st. gu g 4 s...1981
97 *2 Apr’09
........116
Mar’10
.
119 119*4
116*4
Gouv ife Oswe 1st sru g 5s 1942
112**4
114 AprTO .
114 114
Moll ib .Mai 1 st gu g 4s..1991
9y 7sl0 0 100 Dec’09
98
98 *4 98
98*8
977e 100*2
N J June it gu 1 st 4s...l986i F
................... 105 Oct ’02
98
98*., 100 Jlay’09 .
93*2 100
96 *4 O ct ’0
N Y Harlem g 3 *2«. ..2000 W
03 ,
100*2 Dec’09 .
N Y .fe Nortli 1st g 5 s ...1927 A
108*4 112*2 108 Oct’09
108*2 1 1 1 n o Fob TO .
no no
N
V
ife
Pu
1st
con
g
a
g4s
1993
A
........
98*2
93*2 Fcb lO
9b *2 98*2
n
n
.
111
Oct ’09 .
Nor ife .Mont 1st gu g os.1916 A
105 106 106 MarlO
109 100
122 ........131 *2 Jail ’09
Pine Creek rog guar 63.1932 J
123 124*8 124 Mut’lO .
124 125*4
107 11)9*2 110 Apr TO
K Wife Ocon lstex t 5s. A1922 A
108’8 110
.........
120 .iau ’09 .
ji................
105*2 105 Jan ’O
Oswe <fc It 2d gu g 5s...«1915
111 107*4 Mar’10
107*4 110*4
105*4 106*2....................
K W ife OT K 1st gu g 5 s .l9 18
l l l 34 119 117 5Iuy’o7 .
102*2 102 *8 Feb TO
|!ioiV* ib*2 *4
Uutlami 1st con g4*as..l941
75
98
71 Mav’09 ,
‘so" 91 1 91 *4 Mar’10
OgifeLCham 1st gu 4s gl948
I 90 91*4
95
94
93 »4 Apr TO .
93*4 95 *2
89 I 92 J'nu’09
Rut-Oanad 1st gu g 48.1949
108 115 119 J iy 09 .
........
115
J’ne’09
St
Law
ife
Adir
1st
g
5s.
1996
1 0 4 '-j ........110 Jan ’09
2d gold 6s.................... 1996
........125 Feb’08
Sale <J0\ 90 7u
99 97
997g
100 102
102 Apr’10
Utica ife Blk Riv gu g 4s. 1922
104 1 0 5 1 01 5 s Mar’lO
90
91
104*8 105*2
90 °» 90s
92 *2
1997
Lake
Shore
gold
3*28__
91 90*8 9 IDs
907a 92
91
90*4
Registered................1997j J
92 Apr TO
il ‘6 ” I l l J 10 Apr’ 10 .
110 1 1 1
8a
to
‘*93*4
Debenture g 4s........... 19‘28'M
93
93*2
95*4
103 108
93‘a Sal 6 93
93*2
96‘*4
25-yoar g -Is................1931 M
110 Si 111 110*2 Mar’10 .
iV6*i i io*4
113
Ka AifeG R I8tgn c5s.l938 J
111 1 1 1 I l l 5lar’10
no m
110*6 111 109 Get ’07
Mahon
OT
RR
1st
5s..
1934
J
90
91 Nov’o9
102 ........ 100 Dec’09
Pitts ife L Erie 2d g 6s.al923.A
124 ........ 130*2 Jan ’09
Pitts McK & Y 1st gu 6s. 1932 J
120
2d guar 6s.................... 1934; J
97's 97*2 97 AprTO.
111*2
96*4 98*4
.McKeesife
B
V
1stg6s
1918]
J
..................194 Apr’06 .
115 Oct ’09
109*4
Mich Contes................... 19 3 l ’M
97*2 98
98
98 , 6 96*4 99
109
119 J'ne’96
Registered................193 J Q
I
99 Jan To
99 99
4*..................................
1940
J
9 7 :*i 9 8 S 93
98 |
96*4 93
1 98 Dee'09
Registered................1940* J
29
3 1 7a 30 M a r’10 .
27*2 31
J L ife 8 1st g 3*28...... 1951 M
90
J’ne
08
25'*8 28*2 25 *2 A p r'0 9 ..
1st g 3*28................... 1052 M
84*2 86*2 87*2 Apr’l J
87*2 90
....................... 77 M a r’10
75
77
20-yoar dob 4s.............lyjmA
90*2 91
91 ‘2 Mar’10
9L*s 92*2
.................... 80 Feb’08
Bat
O
ife
Slur
1st
gug
3s.
1989
J
100
10UsaMuy’09
..
N Y OhiOifc St L 1st g4s 19371A
99*2 100 I 99*a 99*2 1 , 99 10U*2
Registered...................19371A
98 ........ TOO Dec ’09'
Debeutures 4s.............1931 ,M
........ 91 1 ot Mar'll- ... 9U'b 92
100 100*4 100*2 101
West Sliore 1st 4s g u ...2361
4 lOU 102*4
100
Sale ypij luu
Registered................... 2361
5 99 100*2
130 133 132*2 J'ne’i>y
N Y <fe oreeuw Lake n e e Erie
108 *a
118 Jan ’07
N Y ife Har H ee N Y C * Hud
100 *8
101 Feb TO
1 0 L 101
N Y Lack ife W S e e D L ife W
101 106 ll 5 Apr’10
104*2 109
N Y L E ife W S e e Erie
76
7Ol4 Api TO
78*. 81*2 N Y & Loug Br S e e Cent of N J
9 1 ’ 87 Mar To
83
87
91*4 N YN 11 ife H—Conv 6s.. 1948 J.J 132*2 Sale 132*2 131
72 132*2 135*4
Conv deben 3>2S........... 1956 J-J 100 *8 Sale Ulo'o 100)\, 22 100 103*4
9734 99
97*4 AprTO
07*4 100
Housatonic It con g os..1937 M-N 113*2........ 116 Jan TO .... 116 116
98Si Jau’lu .... 98*2 93*2
N H ife Derby con cy 5s. 1918 M-N 99*6 ------ 107 Aug’uO .
i Y * North S e e N Y U ife H
98*2 Salo 98*2
96*8 2 98*4 100
N
Y O ife W ret 1st g 4s..^1992 M-S 97*2 U834' 97*2 97*2 2 1 96*2 98
85
35 S 85*2 b o s 3 85*4 37*4
Regis $5,000 only........ pl992 M-S ..................lu i >2 J ue’OO
10l*>4 192 Mai TO
102 105
N Y * Put H ee N Y C <& U
82 *2 4 82*2 85*4 N
82>-j 82 S
Y <fe R B S e e Loug Islund
88 S, Sale 88
88*2 30 88
90*4 N Y S ife W H ee Erie
83
88 Apr ’0 9 __
N Y Tex ife M S e e 80 Pao Co
105 Oct ’03 ....
ibo"
100
Nor <fc South 1st g 5s........ 1941 M-N 100*4 103 100
101*8
83*4 ”9 3 " 92 Apr’10 " " 90 93 *2 Norf ife West gen g 6s.......1931 M-N 123 ........123 Apr TO ... 100
123 124*8
1 1 2 *.
1 1 2 * 112*4 a 109 S 113
128 126 Mar'll) ... 126 126!*»
Improvem’t ife ext g 6s..1934 F-A
107 *8 107*6 Apr.* 0 __ 106 S 107*8 New
124*2 124*4 Feb'10 ... 124 124*8
River 1st g 6s...... 1932 A-O
104*2 104*4 Apr To .... 1U3 105 *2 N ife W Ry 1st cou g 43.1990 A-O
98*2 98*4 9b’'a 25 98 100
102*4 105 110*4 Apr’09
Registered....................1996 A-O
........I 97 Apr To ... 97
97
109 105 5tar’lo
105 105*2
Div’l 1st life gen g4a-..1944| J • J 91*2 Sale 9 1*2 91 '2
2 91 *2 93*4
iou*a n o Apr TO u 109 111
10-25 year oonv 4 s .... 1932 J-D 103*>4 Salo !103*4 105*4 ~__' 99 108*2
100J4 101 101 *»Apt TO .... 100 *2 102S
80‘u’ 89*8 Apr’10 .... ; 89
Pocah O ife O Joint 4 s..1941 J-D
90*2
100*4 99*a Mar’lo .... 99*8 99*18
C C ife T 1st gu g 5s........ 1922 J-J 106 ........106 Feb’1 0 ___ 101*4 106
10la4 102*4 102 Apr’10 ... 102 102*s
95 Apr’10 .... 90
Sclo VcfcN E 1st gu g 4s 1989 M-N
96*2
80 | 5 7 8 *8 8 1 7e North
80 . 7 8 7a
79
Illinois S e e Chi <fe N W
96*4 Nov’09 ....
North Ohio Hee L Erie ife W
94
94*2 105 93*4 96
94*a sale
Nor Pac—Prior lieu g 4s..1997 q j 100*8 Sale 100*2 10034 SO 9934 102*8
94
94*a Mai’lU __ 94*8 93
Registered...................1997 q - j ........ 94*2 101 Feb’10 ... 100*2 101
87*2 89 Jan TO *” ■ 86 86
72*2 43 | 72 74
General lion gold 3s__ «2047 q - h ' 72*8 Sale 72
1 10 Mar’05
72*2 Feb’10 ....'1 72*2 72
Registered................ «2047
99
,
93<2
98
*
a
1
98*2
"98*2 ioo*s
u
... . 96'a 9 1 *2
St
Paul-Doi
Div
g
4s__
1990
112 113 Feb’iO
113 113
Dul Short L 1st gu 5s..l916|M-S 99*8 ....
....; 99
99
109 109*2 Apr TO .... 109*2 110
O B <fe y coll tr 4s «S«eGtNor
I
110*4 111 Sep ’0 9 __
115
119
St
P
ife
N
P
gen
g
6s....1923
F-A
118*4
Feb’10
118
....
118*4
*4
85 | "5 84
84
84*4 85
86
Registered certiac’s.. 1923 Q- F 114 .... 117 Feb’10 ....1 1 7 117
8 b | 9 85
86 Sale 85
87*.
St Paul ife Dul 1st 5s. . ..1 9 3 1 F-A 107 .... 117*4 J’ly ’o7
........102 S Jan TO
102*2 102*2
2d 5 s ............................. 1917] A-O 102*4 - --- 103**8 Mar lO .... ii)3**8 103 *
........ 98 Deo’09 ‘ *
1st consol gold 4s........ 1968; J -D ........ 98 4 96*2 96*2 1 96*a 9/ *2
118 120 118*2 118 s i iV«*2 i a i s
92
02 *2 Jan ’00
Wash Cent 1st g 4 s........ 1948|Q-M
110*2 117*6 Mar’ 10 .... 117*8117*8 Nor' Pao
113 Deo’uU...
' ~Ter.............................
111*2
Co 1st g
- f.y
90 , 89*2 Feb TO
88
89
90
N or Ry Cal s e e So Pi
106 109 108*2 Mar’1 0 . * 108*2 108*2 Nor VVia Hee U St P M ife O
........ 75 Muy’OS
Nor ife Mont H ee N Y Cent
95
90
95
95
96
& W S e e C C U ife St L
O Ind
hio ltiv RR S e e Balt ife U
Ore ife Cal S e a S o Pao Co
Ore Short Lino S e e Un Pao
Oswego ife Romo Hee N Y O
Coast Co 1st g 5 s....1946 J-D 101 106 103 Jan TO ... . 108 10878
P ac
ao of Missouri S e e Mo Pao
108 108*2 108**8 108*8 5 108*4 110*4 Penn RR 1st real ost g 4s. 1923 M-N< ........ 103
103*2 Feb’1 0 .... 103*2 103*2
......
109S, Sale 109*2 109 *2 3 108*2 110
Consol gold 6s.................1919 M-S n o .. . . . . luO*2 Jan’OU
116*8........116*2 May’07 ...J i.................
Consol gold 4s.................1943 M-N 102 ........ 100 Feb’1 0 .::: i 0« io t p
109 *2........ 117 *4 Mar’05 . . . Ji.................
Convertible g 3*28.......... 19 12 M-N 100*2 101*2 100*2 1 0 1 J4] ‘2 1 100 102
109*2........113 J’ly '0-4___ 11...............
Convertible g 3*2S.......... 1915 J-1) 96 Bait 96
00**4 170 96
97*2
Consol gold 4 s ...............1948 MN 102*a 103*4 103
104*2 37 103 104*2
94*8 9478 94*4 9 t34 28; 93*4 95*4
AUeg Val gen gu g 4 s...1942 M-S
102**4 Apr’10 ... . 10234 102*4
89*2 91
89*8 90 I 2 1 88*4 9 2 ‘s
D R it Rife B gelst gu 4sg.*30 F-A ini ........
................ 102*4 Mar’10 .... 101*4 102*4
PliiiaBaiife W 1st g 4s..1943 M-N
103*8 Deo’09i *
84S 85
84*4 61*4 2 82
86
3od Bay ife So 1st g 5 s ...1924 J-J 10 o
102 Jan’03 "...................
U N J RR & Can gen 4s.1944 M-S 102 103 *2 103*2 M aiTo:::: 10 3 t io #**
Penn Co—Guar Istg4*as.l921 J-J 106*4 Sale 104 100 *4; 2 104 106
Registered....................1921 J.J
10334 Feb ’ 1 0 __ 103*4 103*4
89*2 Sale 89*2
897a 18 89
92
Guai 3*2SCoU trust reg.1937 M-S 89*2
90*2 J’no’UO ,
.................. 89 "MarTO .... 89
90*4
Guar 3 *2Scoll tr ser B...1941 F-A 89*8 90
. . . . 89*2 91*2
M-N
94*2 95*2 94*8
94** 15 93*4 90*4
Tr Co certlt’s gu g 3*as.l9i6
96*2
. . . . 97
97*8
80*8 80*2 80
8 1 1 36 80
82*2
Gu 3 *23 tr ctfs 0 ............. 1942 J-D 89*2 00
90
. . . . 90
........ 79*4 79*2 Apr’10 .... 79
80S
Gu 3 *-i3 tr etts D............. 1944 J-D
P r ic e
F r id a y
A p r i l 22
W e e k 's
R a n g e or
L a s t H a le
j j
“S'-c
Range
S in c e
January
1
iH IbC blil VNEOLTS BONDS—Continued on Next 1’ngi)
Coal niul Iron
Bull & Susq Iron s t o s....1932 J-D
Debenture 5s.............. a 1026 M-S
Cm i! ifc i Co gen s t g 5 s ..1943 F-A
Convertible deb g os__ 1011 F-A
Col Indu lstife coll 6s gu.,1934 F-A
Contiu’talClfctsf guosg.1952 F-A
•Gr Riv Coal ife C 1st g 6s..1919 A-O
Jell ife Clear C ife 1 1st g 5s. 1926 J-D
Kanifc H U ife C 1st s f g5s-195l J.J
Pocah Con Collier ls t s t 5s.’57 J-J
Sunday creek Co g 53....1944 J - j
Temi Coal gen 5s.............1001 J-J
Xeun Div 1st g 6s.......al917 A-O
» Blrm Div 1st cousol 6s..1917 J-J
Cah C M Co 1st gu g 68.1922 J-D
De Bar CA I Co gu g 6s. 1910 F-A
Victor Fuel 1st s t 6s........ 1953 J -J
ValronCoati&Colst g 58.1949 M-S
99 *2 Nov’OU
94 Dco’09
100
97*2 Apr TO
97*2 93 *2 Mar’10
79
79
78 80
......... 107*8 Dec’04
100 102*8 Apr’OO
107 May’97
105*2 Dec ’06
99*4
85
88 Sep ’09
95
10234 104
106 100*2
105 • ••'• •
106
90
96
033,
102*2 102'-.
106 Feb TO
LUO Mai TO
100 Jan TO
87 Aug’09
97
97
-Hunutnctiiriiig A Industrial
Allls-Clialmera 1st 5a....... 1936 J-J
98 98
Am Ag Chem 1st o 5s....... 1928 A-O
93
93*2 Am Cot Oil ext 4*28.......... 1915 q - i
i 77*2 82*4 Am Hide ife L 1st s t g 6s..1919 M-S
Amer Ice Secur deb g 6s.. 1925 A-O
Am Spirits Mfg 1st g6s.,191u M-S
Am Thread 1st cot tr 4 s..1919 J-J
Am Tobacco 40-yr g 6s___1044 A-O
4s...................................... 1951 F A
Beth Steel 1st ext st 5s.. 1926 J-J
3 102*2 104S lent Leather 20-year g 5s. 1925 A-<1
105 7s 107
I ons 1 Tobacco g 4s...........1051 F-A
106 107
Corn Prod Ret s f g 5s___1031 M-N
1st 25-year s t 6s..............1934 M-N
LOO 100
Distil See Cor conv 1st g 5s.’27 A-O
E I du Pont Powder 4 Ts.. 1936 J-D
3 97 100
*N o price F rid ay; latest bid and asked. a D n e J a n 6 Due Feb e D ue M ay g Due i ’ ne A D ae J ’ ly feD aeA u g
79 Salo 78*4
80
102*4 Sale 102*4 102*4
97*4 98
97 *2Mar’ll)
100*2 Side 100*2 100L
72*2 73 6, 73 Mar'10
96 101
95 Mar’10
90
92*2 92*4 Apr TO
107*4
107 Sale 107
80
79*4 Salt 79*4
87*2 88
87 *2 88
100*8 bale 100 >8 100*2
79**4 AprTO
82
01*4 96 *, 94*8 Apr’ll)
96*8
94*4 96*8 96
71
72*2 71
72
88
87
87 34 88
o D ae OoC
20 78 84 t8
1 101 *2 103
96*2 98
5 100 102
70
73
95
96*4
92*4 03
37 101*4 100*2
71* 76*2 85*4
37 867a 80
40 08**4 102
__ 76*2 83*4
01
07
6 03*8 964
20 71
74*8
2 87
88
zTbae Nov q D ae Deo” / F la t
A pe . 23 1910.
BONDS
N. Y. STOCK EXCHANGE
Wkkk E nding A pkil. 22
New York Bond Record—Concluded—Page 4
•o”
P rice
fY U la v
A p r i l 23
W c t k 'e
R a n g e or
L a s t S a le
ftjCQ
Range
S in c e
January J
H i g h A’o L o w H i g h
ASA L o w
Pennsylvania Co—( C o n )
98*4 97*3 97*2 1 97 4 99
Guar 15-25 year g 4 s ....1931 A
n o Jan ’05
101»«.
C1& Mar 1st gu g 4 *38. . 1935 M
11034 J.tn *00 .... __ .. ........
100 Si.
Cl & P gen gug 4 *28 ser A .'42 J109**4 J’ly ’09
lOO'sSerlos B........................1942 A90S 96 Aug’09
Scries C 3*28................. 1943 J1
90 Muy'08
97
Series D 8 Sja................. 1950 F92*>4 ........ 92 Apr’l)7
Eric & Plttsgug3*sa B.1940 J
9S*>4 Apr’04
v
923
4
........
Senes C........................ 1940 J •
’09
Gr K<fe I ex 1st gu g lS ia 1941,3 ■ 193 S»........ 104*2 Oct
106
2 106 106
1057b ........ 100
Pitts Ft W & C 1st 7 s ...1912 J
Jan
TO
105 lo ss.
105*4
10578
........
20 7s.............................. 1912 J
105 Si........ 107 Oct ’08
3d 7s........................... A1912 A
199 ........ n o Feb’09
Pills Y<&Ash 1st con 5a.l927|M
107 107*8
100 103 107*8 Jan TO
P C C & S tL gu 4 *as A ... 1940 A
100 Si 107 S 197 Mar’10
107 10734
Series B guar............... 1942 A112*3 ■i ue’Oo
Senes C guar............... 1942 M98 Jlar’io
98
98
benea I) 4s guar...........1945 M
94 04*11 94 Mar’10 .... 91
94
Berios E 3 Si guar g,...1949 F
Series F 4s gu ar..........1953 J 111 Si Apr TO .... 111 Sk112
I l l ’s
C St 1. & P 1st con g 6s.l932 A
Pensacola <fc Atl S e e Life Nash
Pen its East S e e C C C & St D
112 Feb TO
112 112
Pen .<•. Pelt Uu 1st g Os----1921 Q00 Si 100 10034 Dee’05
2> void 4 *38................... 61921 M........
70S
77 Si 79
77*3 Mai 10
Pere Marquette—Bet 4a.. 1955 JMar’l
0
191 102*4
........104
101**4
Cn ee W .»l 5 s ..................1021 <J•
111*9 H3 111*2 Apr TO ... . 111 112*4
t lin t* P M g 6 s............. 1920 A190 Dec ’Ol*
........104
Isi cousol gold 6s........1939 M*
106
105
2 105 105
........105
Pt Huron Div lat g 6s. 1939 ASsg lu s * H lstg n g 43.1931 BPin! H * W S e e Penn HR
|
91
91*8 Bee’09
Philippine By 1st 30-yr a l4s’37 J
Pills cm * St E see Penn Co
Pitts Clove * Tol S e e B * U
Pitts Ft W & Cli S e e Penn Co
Pitts McKees * V S e e N V Ceu
114 115 Dec’09 .
Pitts Sh <fe E E 1st g 6 s...1940 A937s J ’ty ’97 ,
1st cousol gold 6a...........1943 J
Pitta * West S e e B & O
98 *4 Sale 9834 99 I 01 07 *a 100
I »ending Co gen g 4s.......1997 J
» c Bogistered.................. 1997 J
97 *9 1U0
98 *e....... 97 ’4 Apr’10
97*
97 Sale 97
Jersey Cent coll g 4 s ...1951 A
6 90
97*,
Lleusseiaer * Sar S e e L) * H
tticli * Ban S e e South By
Itlcli * Meek S e e Southern
Bio Gr West S e e Den * Bio Gi
Koch * Pitts S e e B It * P
Bonie W at* Og S e e X V Cent
Butlaud S e e N 1’ Cent
*2 ag Tus A 11 S e e Pere Alarq
93
4 92
93 Salt l»2
94
O t Jo * Gr 1st l s t g 4 s ...11*47 J-J
St E * Cairo S e e Mob * Uhio
St 1. * Iron Mount S e e M i
St 1. .M Ur S e e T HU A ol St 1.
120
1 120 124
St Boms A S F— .long Os. 1931 J-J ........119*4 120
108 108**4
General gold 6s.............. 1931 J-J ........100 *8 108 Mar’10
90 Mar'll
90
01*2
St BA S F Bit cons g 4 s.. ’90 J-J
88 78 71 87*3 90
MN 88 7« bale 88
A-O lUU *4........ 1 U0*4 Apr TO
160*4 100*4
86 hi *3 85
82
82 Si 82 *4 M
j -j
M-N 116 *b........ 116 Apr’10
116*2 117*2
8‘2 **4
A-O 79 Sale 78*4 79
AO 100 ........ 106*4 Dec'06 ...!* l i .
97
Fcb’10
97
A-O 97
U8 \
97
St Bums So S e e Illinois Cent
91*4 91*4 1 91*4 93*8
St B S W 1st g 4s bd etfs.1939 M-N ........ 91
i
hOSi 82
2d g 4s mo bond clfa...pl980 J-J
81*4 83 Si 81 Apr T 9
VU7h
Cousol gold 4s.................1932 J-D 78 Sale 778b 78
10 77
Gray’s PtTer 1st gugSs 1947 J -D 96 ........ 101 *8 Apr’07
St Paul A Bui s e e Nor Pacitic
St P Minn A .Man S e e Gt Nor
st P A Nor Puc S e e Nor Pac
St P A S’x City S e e C St P M AO
87 S>Sale 87*3
>3 12 8634 88*4
8 A A A P aasl8tgug4s...l943 j - j
98 *3 .. .. 164 Oct ’09
8 F A N P 1st sink r g 5 s.1919 J J
8av F A West S e e Atl Coast B
Scioto Val A N E S e e Nor A W
. |
83*2 86
Seaboard Air Biue g 4s ...1959 AO 83*2........ 83*3 Apr’lU
997h 190
Coll trro fu n d g 6 s........1911 M-N 99*8 100
iii OO^ 10 0 '«
71**b 266 76**4 7138
Adjustment 5 a ............. ol949 F-A 7 *.*a Salb 71
J 84
86**8 ai Mat’ 10
AU-Uinn 30-yrlst g 4s.«1933 M-8 83
87
91*3 Mar-10
90
93
91
Car Cent 1st con g 4s...1949 J-J
91*2
Fla Ceu A Pen ls t g 5 s.1918 J-J 100 ........ 103 Apr TO__ 103 103
1
........
1st land gr ext g os ...1939 J-J 109 ........
Consol gold 5s............. 1943 J-J loo ........ 164 Feb TO
104 104
Ga A Ala By lsl con 5a ol945 J-J 163 Si........ 101*3 Mi*f 10
104 104 S.
GaCarA N o lstg u g 5 s 1929 J-J 104T 106 164**4 Apr'16
164*4 101**4
196
Scab A Boa 1st 6s..........1920 J-J *106 ....... 166
2 106 106
Slier Shr A So S e e M K A T
811 Sp Oca A G S e e Atl Coast 1.
Southern Pacific G o»l
Gold 4s (Cent Pac coll).A;1940 J-D 9034 bait 90=4
1 1 90*2 95
90 ila r’io
lteglstered................ /cl94‘J J- 1 ) ........ 99
96
90
lo 2 7e 717 1oo**4 196*4
29-year conv 4s........ g V J 2 9 M-S lo l *b Sale 191
Cent Pao 1st ret gu g 4s 1949 F-A 96 96 Si 96*4 90 “8 13 06
0734
97 Feb’io .... 97
9/
Keglsterod....................1949 F-A ........ 96
syag 89*1,
88*4 94
Mortguar gohl3Sis..fcl929 J-D 88 89
93 tj Feb TO
92Si 94
Through SI B 1st gu 4s ’54 A-0 ........ 92
G il A SA MAP lstos.,1931 M-N 107 s. 199 111 *2 Apr *60 ;;;;
Gila V U A N lstg u g6a.l921 M-N
106*4 May’09
Hous E A W T 1st g 58.1933 M-N 104 Hi
106 105*8
1st guar 5s red..........1933
N ........ 10634 105 >8Jan ’lu
J 110*9 111 110*4 Apr’10 "**|l 109*9 LlOt,
H A T C lstg 6 sin tg u ..l9 3 7
109 S,Nov’09
Consol g Os int gu ar...1912 O 109
90 Apr’10
* 94
00
Gen gold 4s iut guar.. 1921 O 94*4 90
119*4 Alar’lo
119*4 119*4
Waco A N W ill v 1st g Os ’39 N +110*3
107*9 Jan 09
A A N W 1st gu g 6s__ 1941 •Jl 103*4
Morgan’s Ba * T 1st 7s. 1918 O 110*9 i"l7"*9^122 *8 Aug’U8
IHO Not’OO
1st gold Os....................1920 Jl 112
1112 Feb’07
No of Cal guar g 6s.........1938 O ♦ 95
Ore A Cal 1st guar g 5s. 1927 •J *103*4
T 04 Mar’01)
So Pao or Cal—Os E A F.1912 O 103*8
Il0 l*a J’ne’OS
1st gold Os....................19 12
O 103*8
'114 *9 Deo’04
1st con guar g 6s...... 1937 N 109
*110 May’0 7 __
BPacofN Alex 1st g Os..1911 J 100*9
lo i Mar'10.... lo l 101
*•
Bo Pac Coast 1st gu Is g. 1937 ■J 84
oo J’ly o'im
o
93
Tex A NOSahBiv 1st gOs. 1912 S 101’,
102*8 102*9
102 >8 Feh’io
Con gold 6a..................1943 •J 100
102 Nov'09
BONDS
N. Y. STOCK EXCHANGE
Wkkk Ending A puil 22
P r ic e
F r id a u
A p r i l 22
1091
W e e k ’s
R a n g e or
L a st S a le
S2
®o
^
Range
S in c e
January l
l i i g h Ao L o w H i g h
R id
a s ic L o w
94 Si Sale 91*8 95 2 1 3 94*^ 9 5 7g
So Pac BR lat ref 4a........ 1955 J-J
27 105»4 1 1 1 34
Southern—lat con g 5a__ 1994 J-J 196*8 Sale 10534 106
110 May’09
Registered....................1994 J-J
Develop A gen 4a Ser A. I960 A-0 78 Si Sale 783s 78*4 40 77 *4 817s
83*4 Apr’10 A5 88*4 90*3
80
Alob A Ohio ooll tr g 4 s..1938 M-S 88
Mem Div lat g 4*9-5s...1990 J-J 10(1 *a 107*2 110 Apr 10 ... 110 110
82 84
81*2 Apr’10 ... 80*3 b7
St Bouia d iv la tg 4 a __ 1951 J-J
Ala Cen H lat g 6a........ 1918 J-J 100*2 .... 108 Sep’08
Atl A Danv lat g 4a.......1948 J-J ........ 9 1 92*2 Oct ‘09
92 J’ne’06
2d 4 a .............................1948 J-J
Atl A Yad lat gguar4s.l949 A-0
Col A GreenvlatOa.......1910 J-J 105*4....... 109 J’ue’U,*
E T Va A Ga Div g 5s..1930 J-J ........ 110 110 Feb’10 ... 110 110
Con 1st gold 5s........... 1950 M-N ........112
1 111*8114*3
111*2 m s .
K Ton reor lien g 5s.......1938 M-S 1UG34 ....... 106 Feb” 0 . . . LOO 106
GaAlidland 1st 3s......... 1940 A-O ........ 87
05 Nov’09
Ga Pac By 1st g Os........ 1922 J-J 112=8....... 1 1234 112**4 1 112**4 113*>4
Knox A Ohio lat g Os...1925 J-J
114*2 Feb’10 . . ‘H i Si 114 Si
iloO A Bir prior lien g 5a 1945 J-J 108
115**8 Apr’06
Mortgage gold 4a........1945 J - J
82 Nov’08
Rich A Dan con g Oa.... 1910 J-J 10534 108*4 108*4 106*4 4 106*4 107Sj
Deb5astamped............1927 A-0 104 ........ 106 Apr’10 ... 105 107**4
Bleb A Aleck lat g 4 s...1948 M-N 75 ........ 75 Oct ’08
So Car A Ga 1st g 5s__ 1919 M-N -103 ........ 103*2 .Mar’10 ... 103*8 104
Virginia AXid ser C Os...1910 M-S 107*8........ 112 Oct ’00
Series D 4-5s...............1921 M-S 104 *4........ 108*2 Deo'06
Series E5a....................1920 M-S 105 107Sj 10734 Deo'09
General 5s....................1930 M-N 1o7**8........ 107 >, Mar’lo
107*4 107=8
Guar stamped..........1930 M-N 100*3 10734 107 Dec ’09
91 Feb’10 .11 91
WO A W 1st cy gu 4s..1924 F-A 89
91
WestN O lat con g Os..1914 J-J 105*4 108 S. 106*2 105*2 2 105*2 106
S & N Ala S e e B A N
, 107*2 106\ Sep ’09
Spokaue Intcrnat ls t g 5s 1965 J-J
, 1 0 8 ;*b lOT3^ A.pr’10 ... 107 V. 107 *2*
I «1 A Ol St Pi l s l g 4 *33.. 1939 A-O
, 116*2 115 Apr’10 .. 114*2 115*2
1 1st coil gold6s...,1894-1944 F-A
. 98*4 97 34
i*734 4 97
98
Gen rotund s I g as........ 1953 J-J
109*8 Apr’10 ... 109 109*8
St B M Bge Ter gu g 5s. 1930 A-O
l ’ex A N O S e e So Pac Co
Tex A Pao 1st gold 5s.......2000 J-D 112*3 Sale 112*2 112*2 2 111 112*2
70
70 Mar’lo ... 1 70
79
2d gold iuc 5a........ .....}2000 Mar
103 S ep ’09
Iai Biv B B let g 6a...... 1931 J •J loo"
1 0 6 Sj N ov’04
W Alin W A N W lat gu Da ’JO F-A 98*8
Pol AGO lat g oa.............1935 J - J 109 111 103 Apr’lo ... 107*2 110*2
112 Sep ’09
Western Biv lat g 5s...1935 A-O I07*a
General gold 6a...............1935 J-D f104 106 104 Mar’lo
93Sa 104
93*4 94*4 Mar’lO
Kan A A1 lat gu g 4a....1990 A-0
90 Si 94*4
93 Apr 10
93
92
93*2
Pol P A W lat gold 4a__ 1917 J • J
90
90
90
Sale
89
90
Pol St B A W pr lien g 3 *a». 1925 J-J
80*8
787g 81
60-year gold 4a...............1950 A-0 79*3 Sale 79*2
84 Si 80*4
Coll tr 4s g Ser A ..........1917 K-A 84=8 e l *4 84 2 Apr’10
90
S.
Mar
io
87*«
90
91
Tor Plain A Bud ls t g 4a./il940, J
106 Jan ’lo .... 106 106
A Del lat con g 5s 1928 J-D 104
U lster
86 Oct ’09
lat refund g 4a.......... 1952 A-O
100**4 123, 99s4 102
Un Puc UR A 1 gr g 4a ...19471J-J 10U*« Sale 100
100 Mar’lo . .. . 1 0 0 101*3
Begiatered................... 1947 J-J
20-yr conv 4 s..................1927’ J-J 106*3 S ale 106 Sk 108 ;8 187 100 116*4
1st A ref 4s................... p2U08 M-S 97 bale 96 7a 97 “b 66 96-’a 98*8
96
9a *3 17 - 95
98*2
96
Ore By A Nav con g 4a.1940 J-D 95
Ore Short Bine Iatg0a..l922 F-A 114*2 115*2 116 Apr 10 ...." lie n r
1st consol g 5a............. 1940 J-J 112*4 113 U 234 Apr’10 .... 1 1 2 34 1137*
92*3 Mile 92*8
Guarretund 4a........... 1929, J-D
0 2 ”, 17,1 92*8 947»
94 Jan ’09
Begiatered................ 1929 J-D
1107 *8 Dec’09
Utah A Nor gold 6 a ..1920 J-J 105’s .
Uni N J BB A C Co S e e Pa BB
Utah Central S e e Bio Gr Wes
Utah A North S e e Un Pacitio
Utlca A Black B S e e N Y Cent
97 .
07*8 Fob’10
l undalia consul g 4 a __ 1955 F-A
97=8 9 7 " $
96 Apr’10
92*8 .
era Cruz & Platgu4Sisl934 J-J
96
96
Vor Val 1ml A W S e e Mo P
Virginia Mid S e e South By
VaA Southw’t lat. gu 5a.2003 J-J lOd 111 110 O ct’09
97
97
lat cons 50-year 5a........ 1958 A-0
96 97
2 97
98**»
lat gold 6a.......1939 M-N 10834 sale 10 e *»4 109
U, 108*2 113*4
W abash
10 1
2d gold 6a................ 1939, F-A 190 lOi'Sj 10 1
103 *2
100
S
i
Debenture seriesB .......1939 J-J
86 105 JUO D ec’09 “i
1st lieu equip a fd g 5a..1921 M-S 102 ........ 102 Feb’10 ••**1 10 1 102
90 Mar’lo
lat lien 50 yr g term 48.19541J-J ........ 89
90
90
lat ret and ext g 4a __ 1950 J-J
70*8 .>aie 7J*8 72*4 286 70 775»
1 107 *« 107**4
Det A Oh Ext lat g 6a..1941 J-J 106 Si........ 107*4 Mar 10
83 Deo’oo
D6d Aloin Div l s t g 4a..1939 J-J
Urn Div lat g 3*as..........1941 A-O T o
76*4 76 Apr’IO
75 " 76*«
90 Jau ’ 10
Tol A Oil Div lat g 4a...1941 M-S 80
86
90
90
Wab Pitta Term lat g 4s. 1964 J-D
40*2 40 7a Mar 10
40 7» 62*2
Trust Oo certts......................*....
40 Sale 89 ->4 4U34 83 39**4 04,
6
6
2 d gold 4s........................1964 J-D
In 4
6*3 6
11*2
Trust Co certts....................
6*3
6**4 15 4*8 12*2
6*3 6
Warren S e e Del Bac A West
Wash Cent S e e Nor Pao
Wash O A W S e e Southern
Wash Term! 1st gu 3 S»s.. 1945 F-A 87 03 Si 89 v
89
90 Si
West Maryland ls t g 4a...1952 A-O 85 Sale 84 7b 85 ! 76 81
86 *2
Gen A conv g 4 s ........... 1353 A-O
(1
73
73
3
Apr
TO
Trust Co certfs.................... ..... ........ 73*2
, 68*3 7l>«
\Y Va Cent «te p 1st g Os 1911 J-J 100 .... 100 Si Nov’oO
WestN YA Pa 1st g os..l937| J-J 1 1034 H i 1 1 U**4 L10 **4 2 , n o 110**4
Gen gold 4s..................... 1943 A-0
92 Mai’lO,
96*4 92
Income 5s..................... dl943 Nov
34 Feb’07|'
West No Car S e e Soutli By
h
VVlieel’g A B E lat g 6a..11920 A-O 103 *« 104
101**4 101*4
Wheel Div 1st gold 5a..1328 J-J lo l *4 lo4 iOi Jan ioj ....; 1 0 1 104
Exteu A imp gold o s...1930 F-A 99 .......
Blt lat consol 4s............. 1949, M-S ........ 81
.. . j 84*3 87*4
85
20-year equip s f ds ...1922 J-J
i
99 Dec’08
Wilkes A East S e e Erie
Wll A Sioux F S e e St P M A Mj
VVis Cent 6U-yr lat gen 4s 1949' J-J
93*, 93*2 93
93’sr ; i 93
95
SupA DuiilivA term lat4a’30 M-N
...J 92*2 91
Telcgm pli nnd Telephone
Am Telep A Tel coll tr 4a 1929 J - J 90*2 91
90*2
^ 30 90*3 93
convertible 4s................ 1930 M-S 10la4 sale 101=8 103 H72 10 1 106*1,
Mich State Telep lat 5 a ..1924 F-A 99 Sale * 98=8 99
2 98*2 99
is Y Telep 1st A gena l 4*aa.’39 M-N 07 **» 97 *8 97=8
11 97S. 90
Pao Tol A Tel iat 5 s ........19J7 J-J ........ 9 o>4 9734
47 97**4 99=8
West Union col tr cur oa. 1938 J-J 99 Si 100 TOO
1 17 99 100*2
Fd and real eat g 4 Sis... 1950 M-N 96*4 97
96
97*4
<* 95
Conv 4a, Senea A ..........1938 M-N 1U0*»4 102 1100*4
1 106*4 10 2 *»«
\
a ilM C E l.D A N E O U S BO N D sj—C o n c lu d e d .
Oluiiulitctiii’lug i t ludiiati'in.1
Gen Electric deb g 3 Sj8..104‘2 F-A ........ 83
82 Jan ’ 10
10-yrgdeb5s....'.......... 1917 J-D 13 j **4 Sale 133**4 142
Int Paper Co lat con g 6a. 1918 F-A 102 103 102*4 AprlO
Consol conv a r g 6a...... 1935 J-J 84 85
85 Apr’10
95
Int St Pump lat a 1 os__ 1929 M-S 9lSl 9434 95
Dackuiv Steel 1st g 6a....1923 AO 97 *2 Sale 07*« 97*>4
V T % 9GSi Apr’lo
Nat Ennui A Stpg Ial 5s.. 1929 J-D 96
109
108 Apr’lG
N i Air Drake ist conv 6a ’28 M-N
97 98
9 7 Sj 9 / E
By Stool Spga let a f 5a... 1921 J-J
Ropub 1& b lat A coltr ua.1934 A-O 104 .... 104 Mar’io
03 Apr’ 10
Union Bag & P 1st al 6s..1930 J - J ........ 93
93 ....... 96 Si Jan To
Stamped................................
U S Death Go a tiloh gOs.,1913 VI
104 Si bale 104*3 104 Si
9 1S,
U S lloalty A 1 conv deb g5a ’21 J-J *........ 89**4 90
88 Si Apr’IO
U S Bod A Hot lat a f g Oa.1931 J-J ........ 89
U S Rubber 10-yrcoll trOs.’lS J-D 103**b Salt 103S, l03Si
U S Steel Corn— ( coup .dl963 M-N 104 *3 Side 104*u 104**,
St 10-60 yr 6a. ) reg ..((1963 .11 N
i04
104*
*No price 1 rhlay; latest bid and asked this week. 6 Due Feb
.Hnnulnctiiriug A Industrial
Va-Car Cliem lat 15-yr 6a 1923 J-D
82 82
137 147S, iVestinghouae K A Ms t 6a ’31 J-J
lUisccllunoous
102 105
98 Si Sale
90 Side
99*4 Ci 97*>4 093*
09
31 87*2 93
93*« 03 *s 93 *» 6 92
84 89*4 Adams Ex col tr g 4 s........ 1948 M-S 93
93 Si
04*2 0078 Armour ACo latreaiest4 Sis’39 J-D 92*4 92 *» 92 *2 92Si 26 92
94 Si
Hush Terminal lat 4a___ 1952 A - 0 ........ 89**4 88*2 Mar TO
97*4 190
88 S. 89
97*4 98 Apr To
96 Si 97*V Couaol 6s..........................1955 J •J
96 Si 97*3
95*8 106 100 Jau ’ 08
107*» H i 's ChicJcA t Yard colg5s. 1915 J*J
4U 49 Jau To
40 4U
90*2 93*2 Det 51A M ldgr incomes.. 1911 A-O 35
uistitlor Irrig Wk8,4Si8 1943 M-N 06*2
10.1 *8 194
97*2 Mar' 1 0
96 Si 97>»
93 9 6 Si lut Mcrcan Marino 4SiS..1922 A-O 65*2 Salt 65 S. 00**4 14 6 IS. 71*3
8134 82 Apr’10
96*4 96*2 Hit Navigation lat a 1 5a. 1929 F-A
81*2 83
00
104*2 191*4 N owp N e Ship A D D 5s dlOUU j - j
95 Dec’09
93 S, 93*2 Mar’10
93*3 04
88 94's N Y Dock 60-yr lat g 4s.. 1951 F-A
____ 86=8 99 Jau ’69
88
00*2 Providence Sec deb 4 s .... 1957 .VI.
iio J’ly ’oy
t02*a 104*2 Provident Doan Soc 4*38.1921 il-S
104 105 *2 8 Yuba Wat Co cou g 6s.. 1923 J-J ........ ...... 1 12 J’ly’ui
101 1 0 1
L0378 10534 Wash Water l ‘ow ist 6s.. 1939 J- J 160 103 101 Feb’10
d Duo Apr «Due May pDue J’ne ADueJ’ly icDueAug oDueOct pDue Not gOution Sal*
98*2
89Si
CHICAGO STOCK EXCHANGE—-Stock Record— Daily. Weekly and Year!?
STO CK
S a tu rd a y
A p r i l 16
—
m a n u a l • A N D L O W E S T S A L E P R IC E S
M onday
A p r i l 13
T uesday
A p r i l 19
W ed n esd a y
A p r i l 20
T h u rsd a y
A p r i l 21
S a les
P r td a y
A p r i l 22
W eek
Shares
STOCKS
CHICAGO STOCK
EXCHANGE
R a n g e ,'y.
y . a r 1010
Railroads
195 *185 195 *185 195 *185 195
L a s t S a le 185
Mch’10
Chicago City Ry____ 100 185 Mch 7
3
*2
*2
3
3
*2
3
L a s t S a le 3
Feb’10
Chicago & Oak Park..100
2% Jan .
71" *6
71" *6
71" *6
Feb’10
7 Jan 4
7% L a s t S a le 7
Do pre£ _______ 100
100 *98 100 *98 100
99 99 *99 100 *99 100
5 Chic Rys part ct( " l”_
OS Apr 6
29
29 29
29 29 *29 30
29 29 *28
29
15 3 Chic Rys part ctt ‘ 2"__
2S%Feb 3
13 *12 13 *12 13 *12 13
L a s t S a le 10
Fcb’10
Chic Rys part ctf “3"__
10 Feb 4
*3
9% 8
8
7
*7% 8
7
6% 7
*7
8
35 Chic Rys part ctt "4"__
6%Apr 22
210 2*4
' *2% 3
3
*2% 3
3
2% 234
2% 2% 49C Chicago Subway_____ 100
2% Apr 18
! *3 ; 31 *30 31 *28% .31 *28% 31
28% 281.,
*29 30
25 Kans City Ry & Lt--100 28l2 Melt 18
. *75
77% *75 771" *75 771" *75 77% L a s t S a le 77% Apr’10
Do pret_________ 100 60 Feb 17
; *15
16 *15 10 *15 16 *15 16
16
16
*15 16
201 Metropol VV S K iev... 100 16 Jan 14
; *52
53
53 53
53 53
52% 53% *52 53
54
64
540 Do pret_________ 100 51 Feb 7
15 *14 15 *14 15 *14
15 *14 15
15
15
21S Northwestern Kiev__ 100
15 Apr 1
15 ___
1 *09
*60
*60 ___ *60
L a s t S a le 70
Aug’09
Do pret_________ 100
‘ *52 S2U *52 521" 521$ 53% *53 54% *52 54
53% 541" 466 South Side Klevated__100 50]2 Feb
21 25 217g 23% 21% 22 20% 21% 3,191 Streets W Stable C L.100 217s Apr 22
2s34 27% *26 27
*00 05
90 90
00 90 *85 90 *90 91 *90
91
31 Do pret_________ 100 00 Feb
|
Miscellaneous
11% 11% 11% 11% 11% 1034 10% lO-li 10-3.1 505 American Can_______100 1014 Feb
1 P ’-l 1 1 % *11
7o% 76 *75% 76 *75% 76
76 76 *74 75 *74
75
175 Do pret_________ 100 721.1 Feb
*240
*240
*240 *— » *240
L a s t S a le 225% Oet’09
American Radlator.-lOO
*130 135 *130 135 *130 135 *130 135 135 135 *130 135
i
Do pret_________ 100 130 Jan 20
80 80% 791.1 791" 78% 79
79% 79!" *79 SO
78% 79
492 Amer Shipbuilding___100 72 Feb
*110 111
110 110 *110 111 *110 I ll *110 i l l *110 111
10 Do pret_________ 100 109 A p ril
*1371" 138 *137% 13S 1377$ 137% 138% 138% *137 138 136% 136% 150 Amer Telep & Teleg____ 135 Feb 3
booth (A) & C o _____100
Do pret_________ 100
*37 39 *37 39
37% 371- *37 39 *36 40 *36
40
33 Feb 4
’ 30 Booth Fisheries com___
71
*68
71
71% *67 70 *67
70% 70% 70 70
70
198 Do pret_____________
60 Feb 7
1 *52 54
*52 54 *52 54 *52 54
L a s t S a le 54
Cal & Chic Canal & D.100 50 Jan 11
Mch’10
*1
1 Feb 4
Chic Brew’g & Malt’g___
1% *1
1% *1
1% L a s t S a le l
Feb’10
1% *1
*2
*2
*2
3
3
*2
3
3
L a s t S a le 2%
Do pret_____________
Nov’09
43-% 431" 43% 43% 43 43
*43% 44
43 43
42% 43
468 Chic Pneumatic Tool. 100 38%Jan 20
129 129 *128 129 127% 128 *127% 128 124% 1261" 122 12-1
239 Chicago Telephone___100 122 Apr 22
Do rights__________
*156 157
156 150 *156 157 *156 157 155% 1551" *154
155%
90 Chic TRie & Trust___100 14212 Jan 21
110 110 110 116 116 116% 115 116% 115 115 115 115
353 Common w’th- Kdison .100 113 Feb
Do rig h ts_________
II4 Jan 26
17 17
17% 17%
112 Corn Prod Ret Co com__
16%Mch3l
Do
do
pret___
79U Apr 7
99% 100
t 100 100% 100 100 100 100
99% 99% 99 100
521 Diamond Match_____100 9812 Mch 11
87 87
86% 86% 85 86
: 87
87% 87% 89
84
85 1,365 Illinois Brick________100 75 Jan 5
*44
*44 ___ *44 ___ *44
Masonic Temple_______
L a s t S a le 43% Mch’10
43l2 Mch !
57% 57% 57 57% 57% 571" 57% 571" 57 57% 57
628 JMcCrum-Howcll C o.. 100 40 Mch 17
57
102% 102% 102 102% 102% 102% 102% 10234 10134 102% 100 100% 676
Do pret___________
90l2 Mch 31
Mlhv <fc Chic Brewing___
*
21 * ___
21 *
21 *
Do pret___________
21
L a s t S a le 20
Nov’09
* io s% 1091" *108% 1091" *108% 101)1" * io s% 109% 108% 10S% 108% 108%
15 National Biscuit_____ 100 105 Feb 5
123% 123% *122 124 *122 124 *122 124 *122 124
*122 124
20 Do pret_________100 121 Mch 28
* 112 %113 *112% 113 112% 112% *112% 1121" 112 112 *110 112
50 National Carbon_____100 101 Feb 24
*118 119 *118 119 *118 119 119 119 *117 119 H17
119
10 Do pret_________100 112 Feb 10
1113.1 11134 1115s lllTg 111% HUj 11138 1113s 111) 110% 109% 109%
66 People’s Gas L&Coke.lOO 1061" Feb 3
1 L-1G Mch’09
Do rights__________
165 1651" 165 165 164 164
10334 164 *163 163% 161% 162
835 Sears-Roebuck com ..100 148 F'eb 7
*120% 12034 120% 1201" *120% 12034 *120% 120% *120 121 *120 121
13 Do pret_________100 119% Feb 14
105% 105% 105 105% 105 105% 105 105% 105 105 104-3.1 105 1,003 Swift & Co__________100 101i2 Jan 25
Do rights___________
*184 187 *184 187 185 186 *184 187 *184 187 *184
187
14 The Quaker Oats C o ..100 162 Jan 13
*104% 105 1047s 105 105 105 *104% 105% 105 105 104% 105
48 Do pret_________100 104 Jan 18
9
9
*9
*8%
9
9% *834 9% *834 9% 9
9
290 Unit Box Bd & P Co.100
Big Mch 17
Do pret_________100
2134 *21
213| *21 2134 L a s t S a le 22’ Apr’10 ___ Western Stone______100 161; Jan
213,| *21
*21
*185
*
*03
i 29
*12
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
W e e k e n d i n g A p r i l 22
I n te r
est
P r ic e
F r id a y
A p r i l 22
W ee k ’s
R a n g e or
L a s t S a le
t a m e /o r P r t i t o u ;
( 1909)
185 Mch 1
3U Jan
7i2 Jail 7
100 Jan 3
36 Jan
16 Jan 10
9%Jan 6
6 Jan U
39 Jan
77-1.1 Mch 30
17 Jail 4
56 Jan 6
15 Apr 1
180 Mch 190 Feb
1%Oc
4 Jan
6 Oct
15 Jan
97% Dec 119% J'lv
4534 Jan
30 Dec
30 Jan
10%Dec
13% Jan
8 ~ Dec
29% Jan
3% Dec
52 J’lv
30 Dec
86% Ms\'
78 Dec
l'Jto Dec
15% Ssp
69 Dec
47 Jail
17 Nov 25 May
63 Jan
May
50 Jan
May
29% Apr 541- Dec
97 Feb 103 Dec
55%Jan
64%Jan
104 Jan
13%Jan 10
82 Jan 4
133 Apr
80% Apr 16
112 Jan 11
142% Mch
30%Jan
74 Jan
55 Feb
1 Feb
5
4
17
4
47 Feb ]1
137 Jan 3
163 Mch 10
121%Jan 11
2 Jan 13
22% Jan 8
82 Feb 28
127 .an 6
91 Mch 28
40 Jan 7
57% Apr 13
10234 Apr 20
115 Jan 7
125 Jan 18
115% Mch 23
121 Mch 3
11534 J..n 3
1661" Apr 14
122 Mch 14
109-%Jan 8
180 Feb i9
106 Jan 6
1538 Jan 3
22% Apr 1
4
7% Jan
7134 Jan
200 Jan
126 Jan
54is Apr
101 Feb
139 Aug
%J no
%May
10 May
48 J’ne
61% Jan
1 Apr
2% Apr
20 Mch
127 Jan
15% Nov
86 J’ne
225% Oct
132 J’ly
81% Dec
112 Sep
145 Nov
1 Jan
5 Jan
40 Dec
75% Dec
68 Apr
1 Apr
2% Nov
42 Dec
140 Sep
117 Jan
107 Jan
152 Oct
121% J’ly
17% Feb
25% Aug
70% Mch 88% May
117 Jan 13034 Aug
38 Jan
88% Deo
43 Jan
47 Sep
20 Nov
97% Jan
118% Feb
82 Jan
110 Jan
102 Jan
%Feb
55 Jan
101 Jan
100% Jan
6 Feb
119 Jan
98% Jan
%Feb
334 Mch
15 Feb
21 J’ne
119% Sep
130 Sep
1081" Dec
124 ' Nov
1197s Aug
1 Mch
169% Dec
12134 Oct
114% Aug
20 Jan
162 Dec
105 Dec
1%Mch
9%Jan
25 Mch
Chicago Banks and T rust Companies
D ’cls
S o ld
Range
for
Year
1910
NAME
O u ts ta n d
in g
S to c k
t
S u r p lu s
and
P r o f it s
1
D iv id e n d R eco rd
In
1908
in
1909
(5
P e r
iod
L as'. P a i d
%
D id
A s k L ow
H ig h N o
0
An Dec '09, 6
Calumet National____ $100,000
Ltno
H i ah
$42,487
Amer Strawb’d 1st 6 s.1911
993,, 9934 Chicago City_________
----- 99% 9934 Mch’iO ___
500,000
206,844 10
10
j -j Jan TO, 5
Armour * Co 4 Ms__ 1939
----- ----- 92% Apr'10 —
92% 94%. Commercial National.. x 7 , 000,000 .3,639,995 Ml2
wll
Q-J Apr TO. 2
Aurora Elgin&ChIc 5.1941
8
Continental National.. 9,000,000 5,329,998
8 Q-J Apr TO, 2%
----- ----- --------- —
Cal & So Chic Ry Co
12 Q-J Apr TO, 4
Corn Exchange National 3,000,000 5,387,064 12
102 J’ne’O'J
1st M 5s................... 1927
Drexel State_________
200,000
6
9 A-O Apr TO, 5
26,110
101% Oct’09
Cass Av & F G (St L) 5s ’12 J - J __ _ __
Drovers’ Dep National.
600,000
408,157
9H 10 Q-J Apr TO. 2%
Chic Board ot Trade 4sl927
100 May'07
200,000
6
6 Q-J Apr TO, 1%
Englewood State_____
.32,826
Chicago City Ry 5s__ 1927 F - A 102% Sale 102% 102 % 48 102% 103% First National_______ 10,000,000 0 10320200 12
12s Q-M Mch3lT0,3t>
' ,___ 103 Apr'04
Chic Consol Br & Mlt 6s__ J - J
First Nat Englewood__
150,000
10 Q-M Mch31‘10,2%
169.998 10
50 Apr'09 ___
Chic Consol Trac 4 Ks 1939
loreman Bros B'k’g Co. 1,000,000
507,949 Prlv ato Ba nk
Chic Auditorium Ist5sl929 F - A ----- ----- 9634 Jan’Oo —
I-ort Dearborn National 1,000,000
8
8 Q-J Apr TO,2
411,718
Chic Dock Co 1st 4 s .. 1929
u?Hamltton National__
500,000
5
5 J-J Dec31’09,2%
___ ___ 94% Dec’09 ___
Chic Jc RR 1st M g 53.1945
Hibernian B’k’g Ass’n .. 1,500,000
8
8 Q-J
846,775
Chic No Shore Klee 6s.1912 A - O
87 Feb'06 ___
Kaspar State Bank___
200,000
10 J-J Jan TO, 20
123,181 10
Chic Pnc Tool 1st 5s.al921 J • J 87% 88% 871" Mch’10 ___
84% 8734 Live Stock Exch’ge Nat 1,250,000
10 Q-S1 Mcli.31’10 2%
471,992 10+ 2
Chic Ry 5s....................1927 F - A 100% Sale 100% 100-3.1
7 100% 1013S Monroe National_____
300,000
4
4 Q-F Feb TO. 1
64,671
Chic Rys 4-58 series "A" A - O ----- 9434 9533 Mch’ll -- -05% J5'{ Nat Bank of Republic.. 2,000,000 1,238,632
8
8 Q-J
Chic llys 4-5s series “B J - D 82% Sale 82% 82% 4 82% 86
w National C ity.. . . . .
1,500,000
3
6 Q-J
354,249
! Chic Rys 4-5s series “C” F - A 90
National Produce_____
250,000
90% 91
91% 90% Mch’10
3 Q-J Apr *10,1
77,268
j Chic Rys coll 6 s._1913 F - A ----- 101
100% Apr’10
100*4 101% North Avenue State__
200,000
69.6.31
5K Q-J Apr TO. 1%
Chic Rys Fund 6 s ..1913 F - A ___ ___ 101% July*09
North Side State Sav’gs
50,000
6
6 Q-J Apr TO, 1%
23,681
___ ___ 100% Mch’10
H Chic Rys Tem Ctts 1st 5s
200,000
Q-J Apr TO, 1
10*6*816634 North West State____
13.022
Ohio It I & P RR 4 s..2002 M**N ___ ___
66% Aug’08 ___
People’s Stk Yds State.
300,000
Q-J Apr TO, 2%
93,699 ____ mm
Collat trust g 5s__ 1913 M- S __ _ _
66%July'08
250,000
Prairie National______
71,792
Chic Telephone 5s___ 1923 J - O 103 103% 103% Apr’10
500,000
ii Q-.'i Mch31T01%
103 103% Prairie State_________
8
66,119
Commonw-Kdlson 5s. 1943 M- S {102% Sale 102% 102% 14 102% 1027g Railway Exchange___
None ___ Jan ’08, 2
250,000
2
12,763
___ Mh.31’10.1%
Chic Kdison deb 6S.1913 J - J
100 J’ne’08 __ _
Security____________
300,000
181,113 __ .
6 Q-J Apr TO, 2
t
1st g 5s___ July 1926 A - O 100 100% 100% 100-33
8 100 100% South Chicago Savings.
6
200,000
8.3,000
Debenture 5s___ 1920 M- S ___ ___ 100% Aug'09 ___
South Side State_____
200,000
8,144 Beg. b us Sep t.’OO V. 89, p. 817
___
12 Q-J Apr TO, 3
Commonw Klect 5sM943 M- S 102 10234 102% Apr’10
1*02% 1*02*34 State Bank ot Chicago.. 1,500,000 1,683,075 11
8 Q-M Mch 31 TO, 2
Illinois Tunnel 5s___ 1928 J - D {45 . . . .
80 Dec’08 —
7
Stock Yards Savings__
250,000
185,511
0 M-N Nov '09, 3
6
Kan City Ry & Light
Union Bank ot Chicago.
200,000
42,688
None Q-M Dec31'08,l%
96% Dec’09
6
Co 5 s ........................1913 M - N
Wendell State__ _____
50,000
8,138
8
6 Q-J July '09, 2
96 Mch’09 ___
American Trust & Savs. 3,000,000
Knlck’bker Ice 1st 5s. 1928 A - O ___ 100
291,262
7
7 Q-J Apr TO, 1%
Central Trust Co of 111.. 2,000,000
Lake St El—1st 5s__ 1928
918.005
- J 80 ___ 83% Fcb’10 -- ,
6 Q-J Apr TO, 2 *
Chicago Sav Bk A Tr__ «500,000
Income 5s________1925 Feb ----- ----- 16 May’05 —
111,772
lh
0
6 Q-J Apr TO, 2
Metr W S’de El—
Chicago Title A Trust.. 5,000,000 >1.310,160
4
82
1 82 84
6,224
4 A-O AprO.’lO, 3
1st 4s____________1938 F - A ___ 82% 82
50,000
Citizens Trust A Savings
80 Fcb’10
600,000
513,288 8 + 2 8 + 2 Q-J Apr 10,' 2%
Extension g 4s___ 1938
Colonial Trust A Savings
80 80
J ___ 80
91% Apr’10 ___
200,000
100,342
tforrl" & Co. 4 H___ 1939
8 Q-J Apr TO] 2 "
J
91% 93% Drovcrs’TrustASavlngs
North West El 1st 4 s.1911 M- S 95% Sale 95% J5% 16 95 96% Harwell Trust Co_____ 1,500,000
228,900 ___
3 Q-J Apr TO, 1%
1 99 99
No W G-L & Coke Co 5s’28 Q - M {99 Sale 99
99
First Trust A Savings.. 2,500,000 02,784,677
16 Q-M MchSITO, 4
200,000
95
9534
2 92% 96% Guarantee Trust A Sav.
Ogden Gas 5 s.. . . . . . 1 9 4 5 M - N 94% 95
5.245 Incorp orated 1908 V.87.P.1138
Pearsons-Taft 5s____ 1916 J - D 99% ___ 10038 Mch’09 ___
Harris Trust A Savings. 1,250,000 1,370,962
6
o y 2 Q-J Apr TO. 2%
9*6% ’9*6% Illinois Trust A Savings 5,000,000 8,297,282 10 + 4 10+4 <
4 .4 0 s ___. . . . . . . . . . . . . M- S 96 ___ 96% Mch’10 ___
1 Apr TO. 4
200,000
4.60s Series E_______ M- N 97 ___ 97 Feb’10 ___
97 97
Kenwood Trust A Savgs
6
0 « QJ Apr TO, 1%
58,006
200,000
4.80s Scries F________ M - N 98% ___ 98% Mch’10 ___
98% 98% LakeVicw TrustASavgs
4M
5 Q-J Apr TO, 1%
41,100
12134 May’09 ___
Peo Gas I. & C 1st 6s. 1943 A - O
Merchants’ LoanATrCo 3,000,000 5,558,206 12
12 Q-J Apr TO, 3
750,000
2 1*03* 163 % MetropolitanTrustASav
Refunding g 5s___ 1947 M - S ___ 103% 103
103
0 Q-J Apr TO, 1%
6
205,091
5 103 104% Northern Trust Co____ 1,500,000 2,236,800
10.3
Chic Gas L&C 1st 5sl937 J - J 103 ___ 103
8 Q-J Apr TO, 2
8
Consum Gas 1st 5s. 1936 J - D {102 ___ 102 Mch’10 ___ 102 102% North-Western TrASav
200,000
6 J-J lan TO, 3
6
61,782
Mut't Fuel Gas Ist5sl947 M - N
1011" Dec’09 ___
500,000
Pullman Trust A Savgs.
8 Q-J July TO, 2
8
220,217
"62*34 *9*4” Sheridan Tr A Sav Bank
923, 92% Apr’10
South Side Elcv 4 5^3.1924 J - J 92
200,000
223,571 Beg b us. J’ly 12’0 9 V.89,p.141
Swift & Co 1st g 5s__ 1914 J - J 100 100% 100% 100%
5 100 1007s Stockmen’s Trust A Sav
5 J-J Jan TO, 2%
200.000
5
.31,474
Union El (Loop) 5 s..1945 A - O ___ 88
1 88 88
88
88
Union Trust Co______ 1,200,000 1,092,087
8 £8 + 2 Q-M Mch 31 TO, 2
Union Pacific conv 4 s .1911 M - N
6 Q-J Apr TO, 1%
114 Nov’04 ___
Western Trust A Savings 1,000,000
0
220.282
United Box Board col 6s’26
*7*0** *7*0** West Side TrASav Bank
70
75
70 Apr’10
200,000
90,052 Began buslnc ss St' pt 5 1908
6 Q-J Apr TO. 2
General mtge 6s______ J - J
65 70
80 Nov'09
Woodlawn TrASavBank
6
200,000 . 48,248
Western Stone Co 5s. .1909 A • O __
851; July'08 __
N o t e . —Accrued Interest must he added to all Chicago b ond prices.
. * Hid and asked prices; no sales were made on this day. tMch. 29 (close ot business) lor national banks and Mch. 30 (opening ot business) for State
institutions. {No price Friday; latest price this week, a Due Dec. 31. b Due June. A: Also 20% In stock, n Capital and sufplus to be Increased.
oApr.4’ 10. q Dividends ar<- paid Q-J, with extra payments Q-F. s In addition the equivalent of 4% more came from First Trust A Savings Bank.
I Dec 3 1 1909.
1/ Stock Increased In 1909.
t> In addition the equivalent ot 1% came from First Trust & Sav. Bank
w Hamilton NaUonr.l
bank absorbed by the National City Bank. See V. 90, p. 538. * Capital Increased to 58,000,000. Sec V. 90, p. 509. z Feb. 1 1910.
An*. 23 1910. J
THE CHRONICLE
Volume ot Business at Stock Exchanges
B id
Electric Companies
Chic Edison Co—S e e Ch. cago
Gr’t West Pow 5s ’46.J-J 93
e Kings Co E LAcP Co 100 118
Narragan (Prov) El C o.50 * 87
NYAcQ El L &Pow Co 100 55
Preferred_________ ioo 70
United Elec of N J__ 100
75
1st g 4s 1949............J-D 78
Western Power com .100 30
Preferred_________ ioo 51
1093
A sk
B id
Industrial and Atiscel
list Con Steamship Lines—
96
Coll tr 4s 1057 rets. J-J t - 121
Crucible Steel_____ 100
14*8 HD
TUANS ACTIONS AT THE NEW YORK STOCK EXCHANGE
SSIj
e Preferred ______ 100
8bL 865*
DAILY, w e e k l y a nd y e a r l y
61 Davls-Daly Copper Co.10 *2*8
75 e Diamond Match Co.100 991- 100J
R a ilr o a d ,
S to c k s .
duPont(EI)deNemPo 100 136 138 •
S ta te
V . S.
W e e k e n d in g
& c ..
79
e Preferred ______ 100
87 10 J
B onds.
B onds.
A p r i l 22 1910.
B onds.
P a r v a lu e .
32
S h a res.
e Gold 4 MS 1 9 3 6 ...J-D
87
88
63 Econ’y Lt f t P (Joliet, III)
$51,000
Saturday ________
$886,000
237,635 822,342,250
1st M s t g 5s 1956.J-D 95 98
159,000
Telegraph and Telephone
1.701.000
Monday_________
570,426 52,989,100
Electric Boat_______ 100 22*2 28
3 Amer Teleg f t Cable. 100 73 76
108,500
1.659.500
Tuesday______ ___
506,025 46,805,000
60 70
Preferred________ 100
e Central A: So Amer._100 115 120
26,500
1.961.000
682,149 62,555,900
Empire S te el_______ 100
7 10
128,500 .......... Comm’l IJn Tel (N Y). 25 107
1.753.000
Thursday_________
379,626 34,869,975
Preferred________ 100
77
Einp
&
Bay
State
T
el.100
1.288.500
149,000
55,676,700
Friday___________
65
598,267
93 100
e General Chemical__ 100
Franklin ___________ ioo 40 50
e Preferred _____ 100
103 105
e Gold & Stock Teleg.100 105 115
Total.................... 2,974,728 S275,238,925 $9,249,000 S622.500
Goldfield Consoi Alines.10 ♦8*8
‘hwestern Teleg. 50 105 115 Gold Hill Copper _____ 1 *1*4 8*4
H?
60 75 Greene-Cananea____ 20
*9
912
J a n . 1 to A p r i l 22.
W ee k e n d in g A p r i l 22.
S a te s at
9434 99 Guggenheim Explor’d 100 190 193
N e w Y o r k S to c k
90 100 e Hackensack Water Co
1909.
1910.
1909.
1910.
E xchange.
Ref g 4s '52 op '12..J-J 87
Companies
Hall Signal Co com .. 100 35 42
4,973,913
64,824,012
2.974.72S
58,533,701 B &Ferry
Stocks—No. shares__
N
Y
1st
6s
1911.J-J
93 97 Havana Tobacco Co--100
5
7
Par value_______ $275,238,925 $436,850,300 $5,S60,545,650 S5,473,652,425
Y & E R Ferry stk.100 20 28
8
Preferred_____ ..100
12
$200
$172,200
$24,100
$29,300
Bank shares, par____
1st 5s 1922..............M-N 55 65
1st g 5s June 1 '22.J-D 60 65
B onds.
YActlol)
5s
May
'40.J-D
97
99 Hecker-Jones-Jeweli Mill
$2,200
S149.500
$180,700
Government bonds__
Rob Fy 1st 5s 1946 Al-N 105 106*2
1st 6s 1922............. M-S 105 107
647,500
S622.500
20,068,700
State bonds_______
14,969,100
Y & N J 5s 1946___ J-J 9 1 9S12 Her'g-Hall-Alar, new.IOO 35
45
9,249,000 39,614,500
243,323,500
HR. and mlsc. bonds.
426,120,000 N
10th & 23d Sts Ferry.100 4j
Hoboken Land & Imp 100
1st
mtge
5s
1919..J-D
67
72
e
O
s
1910.................M-N
9978
$9,871,500 S40,264,200
$263,541,700
Total bonds ,
$411,575,800 Union Ferry stock..100 29 31 Houston Oil________ 100
6
e 1st 5s 1920........... M N
94 98
Preferred________ 100 35
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Hudson Realty......... .100 111)
EXCHANGES.
Short-Term Notes
e Ingersoll-Rand com .100
93
Am Clg ser A 4s U ..M S 985g 9914
e Preferred ______ 100
97
P h ila d e lp h ia .
Ser B 4s Mch 15 ’12 Al-S 976s 9818 Intercontln’t ’l Rubber.100 24 24>2
W e e k e n d in g
Bethleh Steel 6s '14..M-N 98*2 99*2 Internat’l Bank'g Co 100 107*2 115
A p r i l 22 1910.
L is te d
U n lis te d
Bond
L i s te d
U n lis te d
Bond
Cldc & Alton 5s ’13..M-S 985S 9914 Internat” Mer Mar— S e c S tk Ex list
shares.
s h a r es .
sa le s .
sh a r es .
sh a r es .
s a le s .
CIn Ham & D 4s 1913.J-J 6634 97L International Nickel. . 100 151 155
C C C f t St L 5s, June 11 100i2 10034 Preferred________ 100
91 93
Saturday_________ 11,767
14,360 $44,000
12,052
2,714
$43,351 Hudson Companies—
1st g 5s 1932____ A-O
92 94
Monday__________ 37,340
14,710
30.000
10,692
10,557
101,895
6s Oct 15 1911___ A-O 99*4 IOOI4 International Salt___ 100
5*2 9
Tuesday_________
HOLID AY.
99
16,369
80,883
6s Feb 1 1913........ F-A
7,258
100
1st g 5s 1951...........A-O / 52 56
Wednesday_______ 30,694
18,400
61.000
20,558
19,244
58,214 Inter!) R T g 6s 1911.M-N 1013., 10212 International Silver..100 65
Thursday________ 18,251
10,175
21,000
13,114
9,736
19,258 K C Ry A:Light 6s ’12. M-S 98 99
Preferred_______
100 110 1 13*2
Friday__________ 18,236
9,609
26,000
13,760
16,581
52,625 Minn Ac St L g 5s ’ll.F -A 9934 100
1st 6s 1948____ .J-D
111 U212
N Y C Lines Eq 5s'10-27 6412% 4.20 Internat Smelt A; Refg 100 135 142
Total _________ 119,288
67,206 $185,000
66,090 $362,226 N V N II & 11 5s ’10-’12 100 102 intematTime Record. 100 80 100
92,545
Norf A: West 5s 1910.M-N 100 100*4
Preferred............... 100 93 102
St L Ac S F 4K 3’12op.F-A 963, 9712 Jones f t Laughlln Steel Co
963, 97*2
5s Mch 1 1913.. " ~
1st s f g 5s 1939 .Al-N 101*2
South Ry g 5s 1913..F-A 9S:% 9S5g Lackawanna Steel__ 100
4812 51
10134 102*8 eNcw 5s 1950 (Wl).Al-S 80
Tidewater 6s, 1913
All bond prices arc now “and interest'' except where marked “f.1
99*8 99*2 eDeb 5s 1915 - - ___ Al-S 96 97*8
100*4 11)0*4 Lanston Monotype__ 100
9 H4 9418
B id
B id
A sk
Street Railways
A sk
Street Railways
Lawyers' Mtge Co___ 109 250 25712
Pub Serv Corp N J (C o n )
N e w Y o rk C lip
c Leh As Wilkes-B Coal 50 200
Railroad
Cons Tract ot N J..100 75 70
Blceck St & Ful E stir. 100 15 20
Gt Wcom tr ctfsK
Stock Exc e Lorillard (P) pref__ 100 150 160
1st 5s 1933____ J-D 103**2 104i2 )hlc
65 05
e 1st mtge 4s 1950.J-J
e Preferred tr c tfs ../
Madison Sq Garden. 100 35 45
list
Ncw’k PasRy 5s '30 J-J 107 108 Chic
t IJ’y f t 7th Ave stk-.lOO 125 140
Pco A; St L—
2d 6s 1919.............M-N
e 2d mtge 5s 1914..J-J 98'j 99'f Rapid Tran St R y .. 100 210
Prior
lien
g4
Hs’30.
M-j / 87
92
Manhattan Transit__ 20
*2
2*4
1st 5s 1921____ A-O 104
Con 5s 1943—See Stock Exc list
Con mtg g 5s 1930..J-J / ___
Monongabela R Coal.. 50
J C Hob A: Paterson—
B’way Surf 1st 5s gu 1924 103 107
Incomo
5s,
July
1930..
/
---Preferred________
50
6
*233s
24
'
eCent’l Crosst'n stk-_100
4s g 1919.........M-N 7612
Subway____ 100
3 Mortgage Bond Co__ 100 110 120
85
e 1st mtge 6s 1922.M-N / 80
So J Gas El f t Trac.lOO 13S ” 142 ‘ Chicago
Kansas City Sou 5s Apr 1
Nat Bank of Cuba___ 100 102 105
eCen Pk N & E It stk.100 30 50
Gu g 5s 1 9 5 3 ...M-S 98i2 99*o
1950— S e e Stock Exch a n s e list Nat'l Surety________ 100 260
eChr’t’r & 10th St stk 100 80 90 No Hud Co lty 6s'14 J-J 103
it Rys o t Mexico—
t Exc list Nevada Cohs’d Copper 5 *20*2 21
Col & 9th Ave 5s S e e Stock Exc list
5s 1 928.............J-J 103
..orth’n Securities £
108 115 Nev-Utah Min f t sin . 10
*78 1B1«
Dry D E II & B
Ext 5s 1924___ Al-N 100 102 Pitts Bess f t L E_____ 50 *33
36 e New Central Coal__ 20
30 60
99 100
e 1st gold 5s 193 2 ..J-D
Pat City con 6s ’31.j-D 115 118
Preferred__________ 50 *69 73 NYAlr Brake 6s—S e e Stk Exc list
e Scrip 5s 1914___ F-A
40 50
2d 6s opt 1914._A-O 100
Railroad Securities Co—
N Y Biscuit 6s 1911.Al-S 100
Eighth Avenue stock. 100 250 300 So Side El (Ghlc)—S e e Ch lcago list
111 C stk tr ctfs scr A' 52 88 92 e New York Dock___ 100
29 2944
e Scrip Cs 1 0 1 4 ...F-A / 95 100
Syracuse R T 5s ’46..AV-S 101 103
inboard Company—
e Preferred ______ 100
821» 88
» 42d & Or St E’y stk.100 200 220
Trent P A l l 6s 1943-J-1) 95
1st preferred_____ 100 ___ *75 N Y Mtge f t Securitv-100 295 212*2
42d St M Ac St N Ave. 100
Com Ac 2d pref— S e e Bal t Exc list N Y Transportation.. 20 *5
Gl2
e 1st mtge 0s 1910.Al-S
Com vot tr ctfs___ 100
17*4 Seaboard Air Line—
Nlles-Bem-Pond com. 100 98 102
2d Income Os 1915.J-J / 50 68
e Preferred ______ 100
6(5;; 08 "
9934 ___ Nlplsslng Alines_____ 5 *9'8 10
Inter-Met— S e e Stk Exch ange dst
Gen 4s 1934—S e e Stock Exc list
9512 95It, Ohio Copper Co______ 10 *3L 39i«
Lex Av & PavF 5s S e e Stk Exc list UnltRys San Fran S e e Stk Exc list
c Ontario Silver_____ 100
1*2 212
Mctropol St Ry— S e e Stk Exc list Wash lty Ac El Co___ 100 37 38*2
Otis Elevator com___ 100 56 57*2
Industrial and Misccl.
Ninth Avenue stock..100 160 170
Preferred________ 100
90*2 913,
/ 93*2 94*:
Preferred________ 100 96 09
Second Avenue stock. 100 14 18
4s 1 951................... J-D 84*2 87
♦170 180 Pittsburgh Brewing.. 50 *2358 23*4
a 1st M5s’09 ext '10 M-N
9078 ___
115 120
Preferred________ 50
*42
Consol 5s 1948___ F-A t 55 60
Gas Securities
155 158 Pittsburgh Coal—S e e Stk Exc list
Sixth Avenue stock__ 100 120 130
120 123 Pope MfgCocom.........100 69 72
Sou Boulcv 5s 1945__ J-J 60 86
N ew Y ork
223 227
P referred...............100 80 85
So Per 1st 5s 1919...A -O 88 92 Cent U11 Gas 5s 1927 .J-J 10012 10U2
102*2 105 Pratt A: Whitney pref.100
Third Avenue— S e e Stock Exc list Con Gas (N Y)—S e a Stk Exc list
V
7„
9
Producers
Oil_______ 100 148 152
Tarry W P & M 5s 1928 t 50 80 e Mutual Gas_______ 100 150
23 25 Realty Assoc (Bklyn).100 118 122
YkcrsStRU5s 1940 A-O 75 85 New Amsterdam Gas—
yllo 120 Royal Bak Powd com. 100 195
28th f t 29th Sts 5s ’90 A-O / 15 25
1st consol 5s 1948..J-J 100 101
10212
Preferred________ 100 107 108
* Twenty-third St stk.100 210 220 NY AcERGas 1st 5s '44 J-J 102 104
97 102 Safety Car Heat f t Lt.100 128 130
Union Ry 1st 5s 1942.E-A lOOlj 10 Ro Consol 5s 1945..........1-J 97 100
tk Ex list Seneca Mining______ 25 * .
Westcnest 1st 5s ’43 J-J 65 75 N Y A Richmond Gas. 100 35 50
101 103 Singer Alfg C o______ 100 560 570
N Y f t WcstchesterL’ht’g—
72 74 South Iron A; S com ..100 18 21
B r o o k ly n
Deb g 5s 1954 guar. J-J 100 103
225 235
Preferred________ 100 44 48
Atlan Avenue RR—
Nor Un 1st 5s 1027. M-N . 98 100 American Thread pref
*43., 5I4 Standard Cordage___ 100
If
Con 5s g 1931......... A-O 98 101 e Standard Gas com ..100 n 50
440 445
1st M g 5s '31 red. A-O / 16 20
B B & VV E 5s 1933.-A-O 97 102
e Preferred___
106 n 80
48
Adjust
Al
5s
Apr
1
1931
45
4
/
2
Brooklyn City S to c k ..10 165 170
1st 5s 1930.............M-N 102 106
100 103 Standard Coupler com 100 35
Con 5s— S e e Stk Exch angc list
Deb g
99 100
Preferred________ 100 100
O th e r C i t i e s
Bkln Hgts 1st 5s 1941 A-O 95 100
2
3 Standard Althing Co..100 17 20
Am Gas f t Elec com. 50 *45 47
Bkln Queens Co Ac Sub—
25
Pre'erred________ 100 50 56
27
99 102
Preferred________ 50 *43 45
e 1st g 5s ’41 op '16.J-J
1st 5s 1930........._.A1-N 83 86
88*4 89
Con guar 5s— S e e Stock Exc list Amcr Light & Tract.. 100 285 287
8
Standard
Oil of N J..100 637 643
912
Preferred________ 100 •rl04*2 100
Bklyn Rap Tran— S e e Stk Exc list
18 21 Swift A: Co—S e e Bost Stk Exc list
Coney Isl & Ilklyn..100 70 80 Bay State Gas______ 50
58
/ 66 67*2
1st 5s— S e e Chic Stock Exc list
1st cons g 4s 1948..J-J 78 82 Illrigh’ton (N Y) Gas Wks
35 40 Texas Company____ 100 197 202
Con g 4s 1955.........J-J 75
1st g 5s 1938_____ A-O 07 100
85
102 no e Texas <fc Pacific Coal 100 99 102
llrk C & N 5s 1939 J-J 95 100 Brooklyn Un Gas—SeeStk Exc list
tk Ex list Title Ins Co of N Y ...1 0 0
156
Kings C El 4 s — s e e Stock Exc list Buffalo' City Gas stk .. 100
4*2 512 Bliss Company com_
125 130 Tonopah Alin (Nevada) 1 *7
7*4
Nassau Elec pref___ ioo
1st 5s 1947—See Stock Exc list
125 135 Trenton Potteries com 100
4
8
5s 1944.................... a -O 103 105 Con Gas of N J 5s ’30.J-J 93 97
255
Preferred,
new____
100
205
55
65
1st 4s 1951— S e e Stock Exc list Consumers’ L H Ac Pow—
Borden’s Cond Milk.
116 117 Trow Directory_____ 100 25 36
N YV’bg & Flat 1st ex
90 95
5s 1938.....................J-D 110 __
104 106 Union Typewriter com 100 54 56 ;
Steinway 1st 6s J022. !W 103 107 Denver Gas f t Elec__ 100 159 162 British Col Copper__
*6*8 63s
1st preferred_____ 100 110 112 :
Gen g 5s 1949 op-Al-N 93 95
*2112 22*2
2d preferred_____ 100 110 112 1
O th e r G U ic s
Elizabeth Gas Lt C o.. 100 275 __
134 21? United Bk Note Corp. 50 *46 50
Buffalo Street Ry—•
Essex & Hudson Gas. 100 147
60 70
Preferred________ 50 *52*2 54 *
1st consol 5s 1931_F-A 104 105 Gas A: El Bergen Co..100 70 81
125 140 United Cigar Alfrs___ 100 08 70*j
Deb Os 1917.............A-0 104 105 e Gr Rap 1st 6s '15.F-A
101
125 130
e Preferred ______ 100
107 111
Columbus (O) St Ry-.100 1 9778 . . . . Hudson Co Gas...........100 145 148
3
6 United Copper______ 100
6*4 7
Preferred_________ 100 ___s IOSI4 Indiana Lighting Co..100 32
34
Preferred________ 100 15 30
35 45
Colum Ry con 5s—S e e Phi la list
4s 1958 op_______ F-A / 66 68
___
215
104
Crosst’wn 1st 5s ’33 J-D 100
Indianapolis Gas.........50
___
17 21
U S Envelope com__ 100 60 63*
• Conn lty Ac Ltg com. 100 76 78 . 1st g 5s 1952.........A-O 75 85
Preferred________ 100 113 117
/ 40 44
80 82 Jackson Gas 5s g ’37.A-0 / 88 92*2
e Preferred ____...1 0 0
U S Finishing............. 100 1100 105 j
725
800
ion 101*4 102*2 City Investing Co___ 1
1st & ref 4 Hs—See Stk Exc list e Laclede Gas__
70 __
Preferred________ 100 110 114
Grand Rapids Ry___ I0n 115 125
e Preferred .
inn 85 95 " Preferred________ 1
105 no
1st g 5s 1919...........J-J 100 105
Preferred_____ ...1 0 0
85 90 Madison Gas 6s 1926. A-O 103 108
110 115
Con g 5s 192 9_____ J-J 95 100
e Loulsv St 5s 1930.. J-J s 105*4 105*, Newark Gas 63 1044..Q-J 130 132
95 100 U S Steel Corporation—
Lynn Ac Bos 1st 5s ’24 J-D 105 107 Newark Consol Gas. 100 100 101
96 100
Col tr s f 5s '51 opt ’ll 114*2 1147a
«Ncw Orl Rvs & Lgt.100 261, 2612 e Coil g 5s 1948..-J-D 105*2 100*2
___
Col tr s f 5s ’51 not opt 114*2 1147,
e Preferred _______100
6318 6312 No Hudson L 11 A: Pow—
60 80 U S Tit Gu Sc Indem._100 zllO 120
1st g 5s 1917.........
5s 1038..................A-O no
Gen M g 4 Hs ’35—See S tk Ex list
/
___
Col tr 6s Oct 1956.
eUtah Copper Co—S e e Stk Exc list
Pub Serv Corp of N J.100 117 120 Pacific Gas A: E. com. 100 69 60
36 40 Waterbu y Co com__ 100
Preferred.................100
Tr ctfs 2% to 6%pcrpct 102*2 103*:
89 91
Preferred________ 100
North Jersey St Ry.100 60
Pat f t Pas Gas Ac Elec. 100 90 05 Consol Rubber Tire..
3*4 5 Westchester f t Bronx Tit
1st 4s 1048____ M-N 78 79*2 e Con g 5s 1040__ Al-S 100 102
16 25
f t Mtge Guar_____ 100 165 169
St Joseph Gas 5s 1937. J-J 93 95
/ 35 ___ Westlngh’se Air Brake.SO *144l4 145 1
West El Ac Mfg 5s—SeeStk Exc list 1
Worthing Pump pref. 100 107 112
*
share
a Ex-r'ghts.
ft Basle. c Sells on Stk. Ex., but not very active
t Flat price
n Nominal.
t Sale prloe.
t Ex-stock a'vldend, j
x Ex-dlv.
v Ex-rights. * New stock.
'
Outside Securities
BOSTON STOCK EXGHANG-E—Stock liecorcL, Daily, Weekly and I early
S H A R K P R IC E S — S ') T P E R C E N T U M
S a tu r d a y
A p r il 16.
*11434
*102%
♦223
126
♦223
♦145
M on d a y
A p r il 18.
T u e sd a y
A p r il 19
115 *114 114'
1031 >1 0 2 % 1031
224
223 223
126 1261
126
___
___ *223
145 116
147
16
»1512 16
*75
___ *75
* ------ 1 0 1 . *___
*45
47
*45
W ednesday
A p r il 20.
>113 1131
>102ls 1031
223 223
126 ■ 1261
>223
145 145
16
*15
75
16
75
10 1-
10 1
47
P R IC E S
Sales
T h u rsd a y
A p r il 21
F rid a y
A p r il 22
>113l8 1133
U 2 ''s 1 1 2 S
East S a l I027s A pr’li 1
223 223
223
‘223
>126
__
126
1261
East S a k : 2 2
Apr'K 1
145 145
140
146
* 15 14
*75
*15
*73
16
___
E a st Sale
47
8
45
10
A pr’K
Mch’ll
W eek
Share
201
*125 127
♦lOOIo 1101
*35
36
>125 127
>1091- __
853, 8634
19*2 20
88
88
15434 155
19
19
S712 873.,
1543.1 1 5 5 I4
125
> 110 14
___
*___
193
113 :2
>1131103
187
*97'),
115
103
188
983s
90
>101
00
102
90
101
471?
10017
1834
12511233,
1381,
39
IOO-34
0
20
7
150
6812
0
253
153178-',
921218
61,
I l2 l2
46
100
O'.j
18
*8912 90
*101 102
463t
100
0%
18%
12612
123
137'i(
381.1
lOOO*83,
*13
*6
*149
*871*S12
256
78191
♦216
6
113
112
135
*9712
1921*113.1
105
*31
*27
179
70129
873,4
1221*1434
*87
4 7 14
471100
100
61*C'4
183,
19
12612 1 2 4 3 4
123
123
I 3 8 I4 13 7-,
38l.i *38
1003.1 100
9
*83,
20
*18
7
*6
150 *147%
68
*63
*8%
9
256 v253
153
78178191U *01
217 >210
6
01113
1121112 >112
135 >135
*97199
193
193
___ =>113,
105% 105
32131U
29
*27
1791- m u
701- 7012
29
29
877,
8618
1221- 12218
16
*15
89
88
___
99
193
___
1051,;
31129
17 9 17H ,
291.,
88
12218
16
90
*7U
*7
8
7-3,S
60
50
*48'- 48-3.,
7612 78%
7618 781.,
2612 2634 251- 26
1934 20
* ----
H4
183,
191-
H4
81- 8i2
Si2 9
* .55
.60 *.55
.60
* 19 14
20
*19'15
151.1 15
15
938 93,
91912
223.1 23% 2212 2212
C6’3
Go^ 6 / 'l
600 600
600 600
2IM,
201- 20>2 20
* .1 0
.15
.10 .10
7134
72
72
71
S3., 83j
S3, S%
812 9
81- 8-14
♦ 13.1 2
*1'2 2
151.| 1 5 I4
15
15
85.4 83.1
812 83.,
45% 4912
49
51
10
103g
9% 10%
22
22
22
221
*31- 4
3% 4
173.| 18
1/3, 18
4-s
5
41- 4%
834 S34
8>, 83,,
6 S34
OOI4
62
57
15
15
15
15
71- 712
7% 7',i
*___
1 >.so
1'1
33, 33,
33.,
243, 241- 24
241*51- 61*51- 6l»
56
56
551.1 56
2U - 217,
21S,s 22
61- 6 * 2
*6
012
10
1()18 10
10
40
41
35
41
16-34 1 7
I 6 I4 17
*81- 01819
1
*11 *_ .
381- 3 9
39
3 9 I4
144 [45
1431- 1 4 4
16
16
16
16
♦821- 84
831- S31*13,
2
2
*1'8
13
13
13
13
*2
2 I4
*2
2*4
473., 49
48
48
13U 13*8 I 3 I4 14
13U 13-34 13®, 13161
01
60
7
7
7
7
37
3712 *3 7 1 - 38
44^4 4 5^4 4412 45i2
4975
60
50
49-1
312
312
*3i2 •i°8
25
25
25
2 5 I4
4Sl2 4S12 4S-7, 483,
31- 2X2
3^2 3 k
*81- 9
*8
81128 128
123 130
21.1 21: *2
2-3,
86
181- 19
863, 87
1513.; 155
192
28
192
23
1131103 103
188% ISSI4
*97% US12
1256,
192
192
*114 115
>104
137 187
*97!2 981-
12 3 3 4
123
I3<rs
*37
9 9 3 .1
>
<:
ft
H
0
(8
1
Q
w
u
'A
O
X
W
*83.,
*18
*3
>147168
S3,
250
14 9-*8
7S%
92
>216
534
113
>112
13 H03
1911*11%
105
*30
*27
173
7034
*20
S3-,
120'*15
*87
7
4717438
25
1617 1-
.60
* 19 14
*14
*J%
22
03
600
19
>.10
6312
9
8
13,
M34
8
47
9-3g
19'-,
3117
4 ',
*S3,
5411417'.,
*__
*2lo
23-3
5
55
21%
51y"s
31
15
*Si2
*___
39
142
1518
82
2
12-38
43
12I2
1316136
4312
491*3123148
*3l4
8
*128
*l~i
110
Mnh*lf
12 5 1.
L a st Sale 110% A pr’K
>___
87 *____
87
202
1834 1S34 183s
19
*86
87
87
87
1541- 1541- 15U- 151
140 Mch’1C
212
>192 193
192
192
12514 1251,
12 5 1
114 114 *114
115
104 104 *100
1851- ISO's 18 3 3 4 1337,
L a st Sale 961- A pr’1C
102
1G2
90
90
90
101 102 > 1 6 1 1 4 102
B o sto n S u b u rb a n El Cos.
___ B oston ic W ore E lec Co
Do
p ref
1 0
p r e f __________101
15
73
Feb
F eb
A p r 1 ‘.
A pr U
A lch 2
A p r 12
Ja n 11
Feb
Alch 2 ;
F e b li
265
125
104
85
Alch 8
A p r 12
Jan I
A pr 8
I23i8 J a n 3
104% J a n 7
231 ,'a ;i 1;
130 *4 J a n 5
22/
Feb 2 4
152 F e b 1
Isn ven
Ilia hesi
98 -Tan
lO'ji, J a n
225 J a n
12 4 % Jan
2 2 3 1 - Dec
132% J a n
]25i,? O c t
106 J ’no
, Jau
16
Jan
3
113
10
Jan
7
10 ~ May
118
Jau
5
133% J a n 3
1 1 0 1 ; A p r 15
88 J a il 17
1281- N ov
75 J a il
79 J a n
1,050 Mass E le c tric C os____ 100
13C
Do
p r e f __________lOt
308 N Y N H & H a r tf o r d .lO t
15-% F e b 8
79 J a u ;
151% A p r 22
11% J a u
20 A p r 14
58% J a n
88 A p r 7
16238 Moll 14 >1 153 N ov
O ld C o lo n y__________100
R u tla n d p ret
.
10C
S e a ttle E le c tric ______ 100
Do
p re f_____ ____ 100
U nion P a c ific _______ 1 0 6
Do
p re f__________10C
191 J a n 27
2 1
A p r lb
1097, A p r 1
101 A lch3t
1793.1 F e b 7
96i- A p r 6
200
105
IOC
12
4C
390
3
51 W est End S t________ 50
39
Do
p r e f ________ _ 50
M iscellan eo u s
45^4
4814534
362 A m er A gricul Cliem __100
4614 401.,
366
10 0 11001- 1001- 100!- 1001Do
p re f__________106
612 *0
313 A m er P n eu S e rv ic e ___50
gi4
0^2 *6
1,205
181Do
p re !__________50
18
18
18
18
243 A m er S u g ar R e lin ____100
12314 1241;
125 >12312 125
Do
p r e f . .......... .......1 0 0
1S5
123
122
123 123
122
13678 13714 1301.4 13034 2,651 A m er fe le p & Teleg__100
138
*37
30 A m erlean W oo len ____100
*37
38
38
38
1,074
Do
p r e f __________100
10 0-3 4
100
991- 100
100
S '* 83S ___
130 A tt G ulf & W 1 S S E .1 0 0
9
___
Do
p r e t__________ 100
25
20
18
18
7
L a st S a le 6
lfch’10
B oston b a n d ............... .. 10
C u m b T e len & T e le s . 100
L a st Sale 143
150
A pr’10
03
5 D om inion Iro n & S t e e '. .
*68
631- *67'4 681.,
S3.,
8-14
878
9
050 E a st B o sto n L a n d ______
9
250
250 250
70 E dison E 'e c Iliu m ___100
253
250
149 G eneral E le c tric _____ 1 0 0
151
150'4 ISO'., 1493., 150
7812 79
78l2 79
79
1,209 M assach u scttsG asC o s 100
92
92%
263
Do
p r e t__________100
92
92'.,
921.,
218
216 216 *210
2 M erg en th aler L in o ___100
218
53., *578
0
6
4,810 M exican T e le p h o n e .. 10
6 -1
113 *1121., 113
112
45 N E C o tto n Y a rn ____100
112
1121-* 11012 11U2 1101- 11012
Do
p re f__________100
61
135 >----- 1341- 1341- 13412
65 N E T e le p h o n e _____ 100
98
*97175 P aclllc C o ast P o w e r. 100
*97t2 99
98119H- 191 192
191
98 P u llm an C o______ .. 1 0 0
191
___
L a st Sale 1 2 1 4
A pr’10
R eece B u tt o n - H o l e .. 10
105
1041- 1 0 5 1 4 1041- 104i2
325 S w ift & C o ...................... 100
31
*30
32
*30
150 I’o r r ln g to n , C lass A . . 25
32
29
L a st Sale 29
Do
p r e f __________25
A pr’10
1791- 178 179
177
556 U n ited F r u it..................lo o
178U
70'., 70 1- 703.,
71
703., 4,869 Un S hoe M ach C orp__ 25
291- * 2 9 1 4 2934 2 9 1 4
129
Do
p r e t__________25
29i4
863, 833, 843, 82183’^4 17,227 U S Steel C o rp _______ 100
12 11, 1201- 1201- 120
45
Do
p re f__________100
120
16
L a st Sole 15
W est T elep A T e le g ._ 1 0 0
Apr’10
90
29
Do
p r e f __________100
*87
90
87
89
M in in g
60 A d v e n tu re C o n ______ 25
*017
7
*6
7
175 A llouez_______________25
46
47148
48
48
763.,
74-, 7534 7212 74% 21,653 A m a lg a m a te d C oppct 1 0 0
1,025 Am Z in c L ead & S i n . . 25
251251- 253.,
413 1 4 4 .1 J
30 A n a c o n d a ___________ 25
17
181,
171- 7,549 A rizo n a C o m m e rc ia l. 25
m , is
A rnold ........................... 25
L a st Sale 1
A pr’10
n.
335 A tla n tic ........................ 25
S34 *71- 81- *7I2
8i2
100 B o nanza (D ev C o )___10
.60 * .55 .60 *.55
.60
201,
L a st Sale 19
A pr’10 ___ B oston Con C & G (rcts) £ 1
930 B os& C orbC op& SIlM g
14114
5
14
1434 14
236 B u tte -B a la k la v a C o i) ..1 0
10
9U
91- __ _
22
1,791 B u tte C o a litio n ______ 1 5
221- 22
22
22
64
64
65
624 C alu m et & A r iz o n a .. 1 0
05
64
600
110 C alu m et & H ecla____ 25
610
005 605
605
*1834 191- *18
155 C e n te n n ia l___________ 2 0
20
20
.15 *.10
250 C ons M ercu r G o ld ____
1
.15 *.10
.15
6812 6912 1,460 C o p p er R an g e Con Co 100
70
69
70
834
834 9
S3.,
203 D a ly -W e st___________ 20
9
____
835 E a st B u tte Cop M in .. 10
8
8
81- __ ,
260 Elm R iv e r___________ 1 2
13., *1111?
2
1‘3
25
143.,
1334 1,067 F ran k lin . . . .
14
14
1314
8
3,465 G iro u x C o n s o lid a te d . 5
8<g 838
8
811,739 G ra n b y C o n so lid a te d . 100
49
49
49
49
50
5,699 G reene C a n a n e a _____ 20
919 '8 938
U'8
9 I4
950 H an co ck C o n so lid a ted 25
1912 20
1912 20
21
3
47b H elv e tia C o p p e r_____ 25
31313I2
1734 17
1,145 Isle R o y ale (C o p p e r). 25
1612 17
17
4 14
230 Kewoenavv C o p p e r_. . 2 5
*4
414
834
5
9
834
351 K err L a k e ___________
8», 85s
571? 56'2 58
55
50 12,451 L ake C o p p er_____ . . . 25
143,
14 14
14% *14
5S3 La S alle C o p p e r_____ 25
15
7
465 Mass C onsol__________ 25
7
7i8
7
71.,
M ayllow cr __________ 25
1
.75 Apr’10
L a st Sale
3
*2'3
200 Mexico C ons M A S . . 10
2334
2 3 14
24
23'- 3,050 Miami C o p p er______ _ 5
5
*5 1 10 M ic h ig a n ...................... .. 25
*5'6 I4
6'4
55
54
54
*52t-> 54
285 M ohaw k_____________ 25
213,
20% 2 1%
2 0 12034 1,653 N ev ad a C o n s o lid a te d . 6
515 14
5 14
360 New A rc a d ia n C o p p e r .25
5lo
5110
10
10
10
5
10
990 N lpissing A lines_____
3334
34
32 '- 36
36 38,891 N o rth B u tt e _________15
15-3.,
15
1534
15
3,841 N o rth L a k e ....................25
15 14
___
__ _
8*8
8 -1
130 J Jib w a y A lining______ 25
L a st Sate .65 Apr’10
1
lid C o lo n y __________ 25
3834 38
391- 38
38
1,483 did D o m in io n ______ _ 25
139
139
465 J s c e o l a ........................... 25
1481? 141 141
151,
15
15
15
15
730 P a r r o tt (S liv er A Cop) 10
811- 82
83
*8U83
131 J u ln c y ______________ 25
2
2
*2
2
170 S an ta Fe (Gold A Cop) to
2 I4
12
125i *12'- 123,
12% 1,035 S h a n n o n ____________ lo
2
2
2
2
2
230 South U ta h At A S _____ 5
*44
45
45
45
422 S u p erio r_____________ 25
46
121.J 12112'13%
693 S u p erio r A B o sto n Alin 10
12113
13'2 ___
1311.031 S u p e rio r& P itts C o p p . 10
59 <___
00 >___
30 T a m a r a c k ___________ 25
GO
038
O'- 616161;
553 T rin ity ............................. 25
3534 353.,
36
36
36
450 1n lte d S ta tc s C o a l A Oil 25
44i.|
43l2 43s,
43!.,
43'; 3,676 1 S S m elt H er A M in . 50
4978 493., 493,
491Do
p re f__________ 50
1,395
50
312
33,
31- 31;
153 J ta h -A p e x A lin i n g ... 5
3124
24
24
25
2,502 J ta h C o n s o lid a te d ... 5
24
4G>8 40V *46
48
461;
361 J ta h C o p p er C o . . . . . 10
4
31- 31
4
95 V ictoria _____ . . . . . . 25
734
734 *718
8
140 iV ln o n a __________ . . . 25
.30
12S 129
124
125
136 V o lv e rln e ___________ 25
21*
2
2
2
260 vV yandot ___________ 25
2
90
101
145
Highest
t
83 F itc h b u rg , p ro f______ 106
Do
222
42
___ G a R y & E le c tric ____106
1(
111%
1021222
125
8
___
2
Range 1or Picvious 1 ear
(1909)
Lottes'.
R a ilro a d s
A tch T o p & S a n ta Fe_ 10
Do
p ro f__________ 1 0
___
57 B oston & A lb an v ____ 1 0
1 1 1 B oston E le v a te d _____ 1 0 .
___ B o sto n & Eovvell_____ 10i
6 8 B oston & M aine_____ I 0 i
L a st Sale
110
Range Sin ce J a n . 1
STO C K S
B O ST O N STO C K
EXCHANGE
t)
Jan
7
190
D ec
—
13 5
Deo
153
N ov
Fob
Nov
i4% M ch
22
7 7 1-
10 2
S8 1 -
136
Fob
Dec
S co
19
84
17 17,
140
O ct
N ov
J ’u e
A ug
200% J a n
116 J a n 5
90% Alch
106 Alch 2
971- A p r
204% J a n 3 1-1727, F e b
1033s J a n 3
031- M ch
1G8 J a n 17
871- A p r 7
05% Alch 8
88 J a n
10J A lch Ji 109 F e b lo 102 O ct
117% A u g
107 A u g
2183., A u g
117% A ug
33% J a n
48% J a n 10
94
Jan
104 Atch 8
5% J a n
8% F e b 11
13 J a n
24 F eb U
1273, M ch 2 114 N o v
124 Alch : i l l 7 N ov
1433, F e b 24 125% F e b
27% F e b
391- Moll 19
1U4% Alch 23
9 3 1- Jan
11% J a il 7
4 1- A pr
28 J a n 6
15 1.1 A p r
8 '; J a n 1 1
334 A p r
162% Moil .. 125 J a n
71 M ch 4
18% J a n
7
Jan
11%J a n 3
215 J a n
257'- Alch 2.
160% J a il 6 1503, l ’cb
83
Jan 3
59 J a n
97 M ch 18
89 J a u
2 2 0 1 - F e b 26
2021- Mch
2
Jau
0 >, A p r 22
124 J a il 3
08 A p r
93 J a il
115 J a n 11
1381- Alch 11 126% J a n
100 J a n 6
75 F e b
200
F e b 11 108 J a n
12% A p r 141
93.1 J a n
100 J a il
1 0 9 3 ,1 J a u lu
34% J a n 3
2 0 1 - M ay
24% J a n
30 Alch 8
185 J a n 31 1261- J a n
7134 A p r 18 * 5 4 ~ Alch
31 J a n 4
281- J a il
■1 13, F e b
903,| J a n 3
126% J a n 6 107 D eb
0% J a n
13 J a n 0
76 Alch
94 J a n 3
6 OI.1 A ug
105 J 'l y
0% F e b
22% N o v
136 A p r
131 A p r
145% S ep
40% A ug
108 J ’no
11212 S ep
61% A ug
8% O ct
147% N o v
713., D ec
137, J ’no
200 A p r
173 A u g
83% D ec
97 A p r
220% D ec
3% O c t
125 O c t
118 O ct
139 S ep
108 O c t
199 A ug
12 S ep
114% A u g
31 Doc
35 N o v
170 D ec
71 O ct
31% S ep
947, O ct
131 O ct
1 ) D eo
96 D ec
478 O ct
Jan
05 F e b
23 M ch
38), F e b
30 ” F e b
.30 D ec
8 J iy
.45 F e b
1034 M ch
17% J ’ly
8 S ep
213, F e b
96% M ay
5 8 5 ’ Feb
29
Feb
10
J 'n e
68% F e b
7 1 9 Alay
7 1 - Feb
1
O ct
13 F u b
7 3 , J ’ne
90 F o b
9
Feb
8% S ep
5 1 - D ec
221, A p r
2 % M ay
7 1- A pr
16 J a n
1 0 3 4 J 'iy
4% Alch
.30 A p r
3 1 - A pr
1234 F e b
5 3 4 O ct
r57% J ’iy
16% F eb
3 1 - N ov
97, O ct
47 D ec
4% Mch
5 3 4 N ov
.40 J n c
10% Alay
02 O ct
90% N o v
40'- D ee
54 D ec
5134 Dec
l Feb
18 J a n
.80 M av
231- D ec
24 D ec
11% D ec
333, N ov
110 J a n
41 F e b 1
Os-K Alch 31
5 Alch 216 Alch 29
1 1 8 '-J a n 26
11 > J a n 2 5
134% A p r 2
3- F e b 7
99% F e b )•
7 Alch IS
18 A p r 2i
6 Alch 15
1 4 Ji.tJan 1 2
64 F e b 4
7 '8 A p r 14
.239 J a u 26
M S'- F e b 3
76% F e b 8
9 1 A p r 14
214% J a u 4
2% J a il 3
112 Alch 30
110'; A p r 22
134 J a n 18
94 M ch22
188% J a n 4
111.1 J a n 15
100 J a n 24
28 M ch30
27 J a u li>
165'; J a il 15
63'- F e b 4
28% Alch 29
77% F e b 14
117 F e b 8
14 F e b 14
85 M ch 29
5®
j Ja n 10
10
Feb 1
42 F o b 4 58 F e b 2 6
70% F e b 8 90-3.1 J a n 3
25 A p r 2 0
40% J a n 3
4 4 3 4 A p r .’1
111- A p r 11 5034 J a n 3
.75 AIch3l
2 J a n 19
7'4 A p r 11
12% J a n 11
.50 Alch 9 .70 AIch28
17 F e b 8
221, J a n 3
l l i 2 A p r 9 24% J a n 13
6% F e b 8
20% A p r 9 281- J a n 3
69 A p r i l 103 J a n 3
570 A p r 6
18 A p r 1 38 J a n 3
.10 F e b 1
6 5 '2 A p r 0 85 J a n 3
71; F e b 17
9 5, Alch 28
7% A p r i l
133 , J a n 3
1% J a n 24
2% F eb 13
13% A p r 22
22% Alch 9
73j A p r 9
37 Alch 28
8% A p r i l
I 7 1 - A p r 9 30 J a n 12
3 A p r 22
10% Midi JO
3% A p r 9
6 34 J a n h
8% A lch24
11 J a n 5
4S A p r 9 94% J a n 22
14 Alch 31
19 J a n 14
87, J a n 2 ;
4% Alch 8
17, J a n 13
.75 A p r 2
5 Jan 7
2% Midi 14
211- Arch2’9 29 J a il 4
8% J a n 21
5 A pr 8
49 Alch 30 75 J a n 22
27% J a n 11
20'.j Alch 29
10% J a n 12
5 Alch 31
10% J a n 11
9 *4 J a u 17
50 J a n 3
30% F e b 3
8 J a n 3 257, M ch 7
1234 J a n 11
8 A pr 9
13 4 F e b
1
.60 Alch 11
35 A p r 8
65 J a il 3
132 A p r 9 166 J a n 3
14 3 4 Alch 16
213, J a n 3
79 F e b 8 92 M ch 9
U 4 A lch29
234 J a n
3
1134 M ch28
18 J a u 3
2 M ch29
41 Alch 30
12 F e b 28
18 J a n 12
12 3 4 A p r 9
55 A p r 8 78 J a n 6
33
413.)
£19
3%
20
Alch 31
A p r 11
Alch 31
A p r 11
A pr 9
31- Alch 29
7% A p r 6
13, A p r 13
Ex-stocx dlv.
n
40-14
F o b 15
40 " .la n 3
00% J a n 3
534 J a n 1 1
15 J a n 14
.50 J a n 3
3 3 4 J a n 14
Ex rights.
34
122
19
83
Feb
Deo
D ec
1 1 - N ov
13% F e b
Jan
13% N ov
127, A pr
62
J ’iy
9% Dec
28 J a n
39
F eb
44
Jan
4 O ct
37% F eb
393. F eb
3 O ct
43,. A p r
139 Mch
2 O ct
34
OKi, A p r
112 A p r
441- S ep
863.,
12 '
103,
2%
19
NOV
Alell
A pr
Jau
A ug
12 1.1 N ov
110% D ec
143, N o v
38 D ec
7% A ug
33% F e b
c73, Deo
03, A ug
74% Dec
19% Dec
18% Alay
1 Deo
6 N ov
281.1 D ec
13% M ch
70% J a u
30 N ov
S3, D ec
117,
M i.00
60
A ug
D ec
D ec
A ug
17 0
D eo
36% J ’no
99 J a n
27, J a n
177, J a n
07 D ec
18% M ay
18% J ’iy
90
Fob
173, J a n
39% N o v
59 Sep
54 O ct
W4 J a n
4934 N o v
66 Nov
0
D ec
13% Deo
4 Jan
rights.
1095
Boston Bond Record
A pe . 23 1910.1
h o . \ i»
BOSTON STOCK KXOH’GE
Week Ending A pril 22
P r ic e
F r id a y
A p r il 22
|
W e e k 's
R ange or
L a s t S a le
A sk] Low
|g 2
SS
Range
Since
'January l
H i g h . N o '} R o w
H ig h
........ 102 >4 HrW 8 102 103
01 I 35 | 90 Hi 93 *4
Am l eieu * Tei coll ir 4s. 1020 j . j
91 Sale 9034
Convertible 4 s ................193b M-8 101 *a sale 101 Hi 10314 66 101*4 100
83 Mar’Oo
Am Writ leaner 1st s 16s g 1919 J . j
Am Zinc Ii & S deb
19141 J.J "II" iio* 150 Jan TO mi iso " i t s '
152 Fob’10 — ‘ lo2 187 Ha
Ariz Com Con 1st convOs 1918 M-S
AtenT od A S F egen g 4 s..l905 A-O "B8 V *08$ 98^9 08 Ha! 4 1 98^8 101<^
Adjustment s 4e__ J’ly 1995 Norl 0OHi 91*3 93*4 Mar’10 .... 93*4 949,
943b
Stamped .............. J ’ly 1995 M-N 90 Hi 01 Hi 94 Mar’10 .... 94
119 D eo'09
60-year cenv 4s............1955 J-D
117 Ha Feb’101 ...' 117 Hi 117 Hi
10-year conv 5s...........1917 J-D
013
GOV 181 86 Hi 73
Atl Gull AW ISSD iuesSs.’oO j .j ]
h’JU
................ 110 Feb’04
Boston Elect l.consoi o s.1924 M-S
...............loot* Mar’09
.................
Boston A Cowell 4s..........1910 J - J
Boston oo Maine4 Hi*........1944' J-Jj ..................'104 HiOct ’0 8 '....'j................
Boston Terminal 1st 3*as.l047 F-A ..................112 HaJan 'OS1....I*.................
Bur A Mo Bit eons Os__ 1918 J - J j .................. '103 Feb’1 0 j....|l0 3 103
Butte A Boston 1 st tis__ 1917 A-0 ..................'100 J’ne’Ol!___l!................
Butte Elec A Pow li-tg 5 s.1051 J-D ........ 100 I...................... '...J 1......... ...
Ceuar Uap A .Molt 1 st is. 1910 M-N .......... .....1 1 7 J’ue’08
8 8 I 11 88
88
Cent Vernal 1st g4s..M ayl920 Q-F ..................I 8034
O B A w Iowa Div 1st 58.1919 A-O ..................11103 O ct’071
Iowa Div 1st 4 s ..............1919 A-O ..................I 99"s J’ly ’09
Debenture 6s..................1913 M-N ..................lOl'H Mar'101
101 Hi 10134
Denver Kxten 4s............1922 F-A ..................I 99*s Feb TO'
99's 99*4
99 99»b
Nebraska Kxten 4 s ...... 192?,M-N| .................. 1 99 Mar’10'
B A 8 W 8 l 48................1921 M-S ..................| 99 Oct ’09'
Illinois Dir 3 Has.............1949 J - J ................ ! 88 :H,Feb’10
s'8 83^
Oblo jo Ky & stk Yds Os .1910 j-J ; IOIH4 lOlHa 101 Hi lb l^ l 3 1003» 10l»4
Coll trust relundlug g4sl04O A-O
91 Apr’10'. ..'! 91
927s
Oh Mil & St T Dub D Os..1920 J-J
'116*3 Jan’10!. ..' 115Hall6Ha
Oh M A St P Wis V div 8sl920 J . J
........120 Feo’051.
vr,ir*i n . . . 1100*4 lOOHi
Ohio A No Mich 1st gu 5 8 .19 3 1 M-N- .........102 TOO Hi .Mar’101.
Chic A W Mich gen 5 s ....1921' J-D 10U3, ........1101*3 Api " 0 ....' 101 104
Concord A Mont cons 4s.. 1920, J-D .................. 1 *U Dco,07‘...J '...................
119U.lnn»0^'
_________
ConD A Pass H 1st g 4S...1043 A-O
Cudaliy l ’ack(The)lst g 6 s 1924 M-N 99 100 100*4 Aug’O0 ...J '..................
Current luver 1st 6 s........ 102 i A-O
90 Anr’10 ....'1 99
99
DetOr Bap A W 1st 4 s... 10 *0 ,A-O m m ‘Vo" 89 jMar’1 0 __ ' 89
00
Dominion Coal 1st s t 6 s..1940,M-N
9834 51ar’10 — 08
983,
Fitchburg 4 s .....................1915 M-S
103 *8a pi '05..........................
• ■ • 06 Alir’08 ..........................
4 s .................................... 102?iM-8
1'A'A Miir'Oi)..........................
Fremt Elk A Mo V 1st Os..1933 A-O
140 Apt ’05 . ... ..................
Unstamped 1st 8s..........1933 A-O
96*5)1 17, 96*8 97**
06 Sule 96
Gt Not C B A HI coll tr 4s 1921 J-J
96Hi
IleKisterea i s ................. i 02 ijQ-J i 05 7a ........ 00 A prT 0....'l 05
N ote—Buyer pays acorued Interest la addition to tho purchase price lor all
Am AprioolChem Is t5 s..l9 2 8 A-O
iia" min
i*ONUS>
BOSTON STOCK EXCH’GE
Week Endinu A pril 22
W e e k 's
R ange or
L a st S a le
P r ic e
F r id a y
A p r il 22
Illinois Steel doben 5 s....1913 A-O
la Falls AStoux Cist 7s.. 1917 A-O
Kan O Clin A Spr 1st 6 s ... 1923 A-O
Kan O Ft S A Gull oxt 6s.. 1911 J-D
Kan C Ft Scott A M 8s. ...1928 M-N
Kan O M A B gea 4s..........1934 M-S
Assented income 5s.......1934 M- S
KaB C A M By A Br 1st 6sl929 A-O
Maine Cent oona 1st 7a...1912 A-O
Cons 1st 4 a ..................... 1912 A-O
Maro Hough A Ont 1st 8s. 1925 A-O
Mass Gas 4 Has....................1929 J..T
MiohTeleplst 5s...............1917 J- J
Mimic Gen Kleo con % 6s 1929' J-J
Now Eng Cot Yarn 6s__ 1929 F-A
New Eng Teleph 5s..........1916 A-O
6s......................................1910 A-O
Now England cons a 6a . .1945 J-J
Boston Term 1st 4s...... 1939 A-O
N ew liiver (Tho) conv o s.1934 J.J
N Y N H A H oon deb 3 s,8l960' J -J
Conv deb Os (etts)........1948* J-J
Old Colony gold 4 s ............1924 F-A
Oreg Ky A Nav oon * 4s.. 1940 J-D
Oreg Bh Bine 1st g 6s.......1922 F-A
Tere Marquette deb g 6s.. 191 2 J-J
Kepub Valley 1st s I 0 s...l9 1 9 J.J
ltutland 1st con gen 4 Has. 1941 J-J
Butland-Canaallan 1st 4s 1949 J .J
Savannah Eleo 1st cons os.1952 J-J
Seattle Eleo 1st sr 6s........ 1930 F-A
Shannon-Anz con 6s (recta) T9 M-N
Terre Haute Eleo g 5s__ 1929', J J
Torrington 1st a 5s..........1916 M-S
Union Pao KB A lg r g 4 s . 19-17:J-J
20-year conv 4s...............1927' J-J
United Fruit gens 1 1 *46.1923 J'-J
U 8 Coal A Oil 1st s I Os.. 1938 M-N
U S Steel Corp 10-60 jt 5s. 1903, M-N
West End Street By 4 s.... 1915 F-A
Gold 4 Has......................... 1914 M-S
Gold deoenturo 4s..........1910 M-N
Gout 4s.............................1917 F-A
Western Teleph A Tel 68.1932 J-J
Wisconsin Cent 1st gen 4&1949 J • J
'Bid
101
A s k Low
H ig h
So. Low
H ig h
15 100 10 1
Sale 101 101
117 Apr’08
93Hi 97
93*4 ...... 93 *s Max'TO
I 90*4 99*4
99*4 Feb TO
. 114 *a 118
116
l i e " Sale” 116
9314 ........ 93*2 Apr’10 ...J| 93 93Ha
91*4........ 91*4 Apr’10 ,...l| 91 92
101V 104 103 Mar’10 ...1102 103
i__
113*8 N ov’OO
101*4 Sep ’05
115 J’ne’08
9 8 Hi 983< 98
9634 91 977e 9934
99 *»Sale 99 *» 99 Hi 2,| 99 99 Hi
102*3 Aug'04
101 Sale 101
7^101 105
101
102 Feb’09
100 >aSep’08
'iimimi mi
80
17 Apr’10
Mar’lo
I347s Mar’10
101 Apr’09
98 7s Sen ’09
llOSs Feb TO
99 Mai TO
102*4........ 105 Dec’08
. 107Ha Nov’05
. 102 Mai’02
78 Hi Sale 78*3 78 Hi
103 105 103 HaMar’10
. 99 Apr 10
. 97 Apr'u7
. 100*, Mar io
99 7a Apr TO
. 108 >8Apr TO
96*8 9 6 Hi 96 Ha 96 Ha
144 152 155 Mnr'lo
............
104*4 Apr’10
............ ....'lOOHi Apr’o9
.' 1 0 1 34 J’ne’09
' 99*sFeb’10
99 Feb TO
96 07
96 Ha 97
Jan TO
I 77
102
134
102
133 Hi 135
Boston Bonds. • No prloe Friday; latest bid and asked.
79*3
102
135
T16!Jb lib 3*
I 98Ha 99
I 78*3 78*3
.. 103 *2 104*4
.. j 99 110
II ioo*4 Ioo34
...’! 99 7s lOu^a
.. 108*% 109 *8
6 96 96 Ha
..1 5 3 ICO
... 103 7s 105 Ha
99*s
99
96
94*%
99 *«
99
99
94V
U Flat price.
Philadebhia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
nlinre Trices—Not Ter Centum Trices
A p r il 18
1W e d n e s d a y !
T uesday
A p r il 19
M onday
A p r i l 18
A p r il .0
T hursday
A p r i l 21
1
|
j
1
89
89
J 129 129 Ha1 129 *3 130 1 130 130 1 130 131
........
25Ha1
*........ 45'$
46
45Hi
*18** 13
'13*8 "13*4 *13" "13'v
•24
25
23*a 23H-
45*4
*46
46*4 *46
*48*4 4834 48*3 48Hi
*1 L7» 12
* l l 7s 12
62Ha 62*3 61*3 61*3
313, 313,
32 32
*78*3 70*3
*79
80
10 10
*24*" ’ *2*4V 21*3 25
*07 08
*U6 Hi 98
118*b U*J34
117 119
G8 Bia6 8 laia 68*4'C8*3ja
60
*60
60 *3 60
15Ha 15*s 16*3 160b
20*8 22 ‘j
21*8 22
8334 8i»*aie 83aio 81*10
7*s 7axa *7
7319
40*3 49-» 4834 49 -a
86*4 fed's 85 ‘3 85*3
TIUBADEI.ITIIA
|
inactive Slocks
AUegbenv Val prel....60
Amai Asbestos Corp.loo
Trelerrcd............... 100
Ameiuan Milling...... 10
Amer 1’ipo 511k........100
Boll Telephone (Pa). 100
Cambria Iron.............. 60
Central Coal A coke. 100
,Consol Trao ol N J...100
Easton con Electric 6.60
Eleo Storage BaU....luO
Prelerted.............. 100
Ft Wayne AW V.......100
Germantown Puss...... 60
Indianapolis St..........160
Indiana Union Tr__ 100
Insurance Co or N A.. 10
Inter Sui Tow A Cheiu.50
Keystone Telephone ..50
Preferred..................60
KeystoneWatcliC'ase.lOO
Lit Brothers................ 10
Little Schuylkill..........50
Minehill A Schuyl 11..60
N llaven iron A Steel.6
Northern Central........50
North Pennsylvania..50
Peunsyl Kli receipts__
Pennsylvania Sait...... 60
Pennsylvania steel.. 100
Preferred................ 100
Plata Co (Pitts) pref...50
Phil Gorman A Norris.60
Phila Traction............. 50
Hallway* General...... 10
Suaquen Iron A Steel..5
Tidewaier Steel.........10
Prourvod.................. 10
Union Tr ot ind........ 100
United N J BK AC..100
Unit Trac Puts pret..50
Warwick Iron A Steel.10
w est Jersey A SeaSli.60
Westmoreland CoaL...50
Wilkes Gas m Elec . .100
23*3 £8 Ha *24 25
46 45 ! 4o*4 46*4
48
48 Hi1 48 48
12
l l 7a U 78 12
617a 62*3! 61 62
31*9 31 Ha1 31 31
80 So It feO 80
0*®to u*®101 *07g 1U*4
24*4 24r*»
24 ‘4 25
97
077b
*97*3 99
1177b 110
112^)119*3
U
8
H
a
073
4
63
^
6llBt 8
60 *3 50*3 40>« 60‘a
15 Hi 15°8 16 *3 15*3
19*8 20**8 19
10*3
83 *a83*lia 82 H.82*316
7
7*4
7
7 H,
4734 48*4 48*8 48*8
85*4 85 "b SO** 85H.
R id
A sk
29
27
00
IV ........
‘ 81* ’ b2
75*4
"60*3 - 6i»i
' Vos "2 0 "
16
07e l(i*4
16
61*4 ........
........
108
43*a 44 *,
T o" Ti"
"U K
240
' 20 "
250
"iT vr*4
53*3 54
98
♦24
25
*45 45*4
48*4 48*4!
*11 *b 12
60H. 60 Hi
*31 32
80
80
10
10
24*4 24*4
97 -a 077a
113 n o n
07*4 68*x0
50
50
16*18 15*3
10*3 10 7»
12 Ha 82 H.
73ia 73to
48 *8 4a '4
86
85
F r id a y
A p r i l 22
R a n g e to r P r e v io u s
Y ear (1 9 0 2 )
H ig h e s t
L ow est
H ig h e s t
55 Apr 22 30 Mat 48 Deo
89 Apr21 76 Mar 89 May
132 Feb 28 100 Jan 121Ha Deo
1 1 34 Feb 28*4 Deo
27 *4 Jan
47 Jau 8 ; 22»4 Feb 48 Deo
14*4 Jan 4 o34 Feb 14 HaDeo
Philadelphia
*23
24
16'American Cement........ 50 23*3 Apr 18 28 Jan 3 25 Dec 43 Jan
45
45
203 Auiericau Hallways.... 60 44*(,Mar29 50 Jan 6' J l ’s J ’ly 48 Deo
4734 48
1,205 Cambria S teel.............. 50 46 *4 Feb 3 53*s Jau 10 3278 Feb 19*8 Deo
12
40o|Electrio Co of America 10 l i >4 Feb 23 12*a Jau 14 4;1078 Jan 12*8 J’ly
12
61
61
390 :Eleo Storago Battery.. 1U0 56 Fob 8 64*4 Marll 43 Jan 63 *3 J’ly
31
31
328 Gen Asphalt tr ctls — 100 28 Jan 25 34*8 Jan 29 15*a Jan 33*4 Deo
80
Do prel tr ctfs .... 100 77*3 Jan 26 84*4 Jau 10 63 Jan 84 *3 Deo
*79
12
10
10
320 Keystone Telephone... 50 9 *3 Feb 7 13 «anlbj 9*3 Jan 45 Apr
23 Hi 2 1
2,847 Lake Superior Corp---- 100 20*4 Apr 6 28*4 Jan 3 1434 Jan 33 *8 51ay
08 08
89 Lehigh c A Nav tr ctts. 60 95 Apr 9 123 Jan 7 06 Jan 125 *2 Deo
11434 116 31,536 Lehigh Valley.............. 60 93 Feb 4 121*4 Marla 67 Feb 113 Sep
07«18 077, 2,708 Pennsylvania KB........ 50 647a Feb b 693xa Mar 9 63*8 Feb 7 5 \ Sep
232 Pluladelp'aCo (Pittsti). 60 43-. Feb 8 53*4 Jan 8 4uHa Feb 6 l 7s Deo
•40*4 60H,
16**8 15*-. 4.070 Philadelphia Electric U. 25 $137s Feb 3 16*4 Mar 18 11*4 Fob 14 *s Deo
19*4 1U3, 23,085 Phila Bapid Transit... 50 19 Apr 14 23HaJan 3 24*bJan 36*3 Apr
817i« 82*i0 4,805 Heading....................... 60 77®iaJan2 86 Feb 18 69 HaFeb 86 T Sep
634 Jau 7l 3 it) Mar
7*4 7 *4 1,810 Tonopah Mining ......, 1 6*3 Jan 2j 7 *3 Mar 8
43*, 8,842 Uuiou Traction........... , 60 47*8 Apr 11 5234 Jan 3 50 7g Jau 58*8 May
48
85
85'a 1,741 United Gas lmpt......... ,5 0 85 Apr * 95*8 Jan 10 84°8 Ma> 95 Hi Deo
TH1LAUELTU1A |
Ph A Bead 2d 5s '33. A-O
Con 51 7s 1911.......J-D
P r ic e s a re a ll " a n d
Ex Imp 51 4s g ’47.A-O
in te r e s t.”
Terminal 5s g 1941.U-F’
Al Val E ext 7s 1910 A-O
P W A B col tr 4s ’21.J-J
AltALVEleo iHas’33.F-A
Am Kysconv5s 1911. J-D 93
Portland By 1st 5s 1930.
At! City 1st 6s g ’19..M-N
Koch liyA L eon5s’51J-J
Spanish-Am Ir 6s ’27 J-J
BergAEBr w 1st 6s’21 J-J
Betide Steel 6s 1998.U-F il4 * i 115
U Trao Ind gen 5s’19.J-J
Un Hys Tr ctls 4s’49JAJ
Clioo A 5Io 1st 5s 1949 J-J
Ch Ok A G gen 6s T9 J -J 1*04*" i o i ’ United Bys InvlstcoUtr
st 5s 1926...............5I-N
Col St By 1st con Os 1932
U Trao Pit gen 6 s ’97 J-J
ConTracof N J 1st 5s.’33 ib T ‘
Welsbach s t 5a 1930.J-D
E A A 1st 51 6s 1920 5I-N
Wlks-B GAE con5s’55J-J
0 0*4
Elec A Peo Tr stk tr ctls
BA LTT.no UK
Eq 11 Gas-L 1st g 5s 1928 107
Inactive Stocks
ludiauapolis By 48.1933
Ala Cons Coal* Iron. 100
Interstate 4s 1943 ..F-A *5 2 "
Pret..........................loo
Lehigh Nav 4Has ’14-Q-J
Atlanta A CliarlotU-.loo
KBs 4s g.......1914.Q-F
Atlan Coast L (Conn)loo
Gen M 4Has g.lU‘24.Q-F
110*4 Canton Co..................100
Leh V C is t 5a g ’33..J-J
Cons Cot Duck Corp...50
106
Leh Vext4s 1st 1948.J-D
Preferred............. ’...50
2d 7s 1910...............51-S 10 1
Consol 6s 1923.......J-D 11734 118*3 Georgia sou A Fla... 100
Annuity 6s.............J-D
149
1st prel................... 100
Gcu cons 4s 2003.M-N
2 d pier..................... 100
97*4
Leh V Tran con 4 s’3jJ-D
G.B-S Brewing..........100
New Con Gas 5s 1948 J-D
Bonds
P r ic e s a re a l l " a n d
Newark Pass con os 1930
NY Ph A No 1st 4s ’39 J.J
in te r e s t.”
Anacostia A Pot 5s..........
Income 4s 1939...M-N
Atl A Ch ext 4HiS TO.J-J
NoOluoTrac couosT9.J-J
Atlan C L BU4sl952M-S
Penn gen 6s 1910 ... Var
Atl Coast L(Ct)ctIs 5s J-D
Consol 5s 1919...... Var
Ctts o t indebt 4s....J-J
Penn & 5ld Steel con 6s.
5-20 yr 4s 1925........J-J
Pa A N Y Can 5s ’39. A-O
BaltCPass ls t S s ’l l 51-N
Con 4s 1939............A-O
Balt Fundg 6 3 .10 16 5I-N
Penn Steel 1st 6s T7 M-N 101
Exchange 3 Has 1030 J-J
96*3
People’s 'l’r tr certs 4s ’43
P Co IstA col tr os’49 51-S 103 103-; Balt A P 1st 6s m l’l l A-O
B S P AO 1st 4 H18 ’63F-A
ConA col tr 5s 1951M-N 90
B altT raolst5s..’20 .M-N
Pldl Eleo gold trust etta. 10234 103
No Balt Div 5sl942 J-D
Trust certils 4s............. 77 Ha1 7734
Cent’l Ur conasl032 M-N
P A E gen 51 5 g '20. A-O
ExtA Imp as.1032 M-Sj
Gcu M 4s g 1920..AAO
I’ll 1l,A 1>IT, T ill A
Bonds
R a n g e S in c e
Jan 1
ACTIVE STOCKS
( F o r J3oTU.it a n d In active
Stocks see below )
Baltimore
55
Do Con. Qaa EL L. Pow. 100
55
*88
00
10
Do orel.......... ..... 100
130 130*4 1.370 Northern Central........ 50
*23*a 24Hi
Seaboard (newl______ 100
*43
41
I Do 2d p r e l........ 100
*13
13*4
10.United By a Electrio.. 00
|
♦Bidandasked; nosalesontills(lay. 11Ex-rlshts. |]815 paid. I
S a le s
o f th e
! W eek
H id
|
A sk
1^13Ha p a id . 4^35 paid,
HALT I 51 OK K
Chas CityKy ls t o s ’23 J-J
Chas By G A El 5s ’00 M-S
101 Chari C A A 2U7sT0A-O
117 City A Sub 1st 5 s.. ’22 J-D
l ‘****l
City A Sub(Was)lst5s’48
........ 1
Coal A 1 By 1st 5 s’20F-A
‘ 90*1 CoIAGrnv lst6s.l016J-J
101 102 Consol Gas 6 s...1010 J-D
5s.....................1030 J-D
75
7b Ga A Ala 1st con 5s ’45J -J
GaOarAN ls t 5 s g ’20J-J
83*4 84 Georgia P 1 st 6 s... ’22 J-J
GaSo A Fla 1st 5s 1045J-J
87
88 G-B-S Brew 3-4s 1951M-S
lo i Hi 102 *a 2d income 5s 1051 51-N
KnoxvTrao l s t 6 s ’28A-0
LakeB El 1st guos’425I-S
Macon
ByALtlst5s’53J-J
20 35
Memphis St 1st 5s’45 J-J
5IetSt(Wa8h)lst5s’25F A
24'i" 215 " 511 Ver Cot Duck 1st os.
115 125 N pt N AO P 1st 5s’38 M-N
4
6 *s Norfolk St 1st 5 s ’44..J-J
16 North Cent 4 Has 1025 A-O
13
Series A 5s 1026....J-J
Series B 5s 1026....J-J
Pitt Un Trac 5s 1007.J-J
Poto Val lot 5s 1041..J-J
Sav Fla A West 5s ’34 A-O
Seaboard A L 4s 1050 A-O
Seab A Uoan 5s 102O.J-J
103 South Bound 1st 5s.. A-O
U El LAP lst4Has’20 51-N
Uu By A El 1st 4s ’40 51-8
U4
Income 4s 1040.......J-D
105
Funding 5s 1936...J-D
Va MIA 2d ser 6s ’ll.51-S
01
100
3d series 6s 1916..51-S
105 106*3 4th ser 3-4-5S 1921.M-S
05
Stliserlea 5s 1026.M-S
06
101
Va (State) 3s new *32.J-J
Fund debt 2-3a 1001.J-J
01*3
103
W estN C con 6s 1014 J-J
HO 112 Ha1 Wes Va CAP 1st 6g’l l J-J
107 100 i Wd A Weld 5s-.1035.J-J
107
R id
|A sk |
a B cc eip ta.
6S25 paid .
e$
R id
A sk
102
04
103Hl
95
100 Ha
107 109
102H 104
100*3
ion*
107 I0734
100 100*8
108*3 109
104 101*3
104*3 105
112*3 114
107*3 108Ha
42
42*«
8
10
104 106
107
05
107
60
' :ju“
09*3
109 .*
69*4
i'05
ii)3'"
00
103
110
108 H,
105
105 107
108
84*,
.
105
105 106
00*3 91*3
853, 86*4
50-H 60
8334 84
‘a£*S
100*3
105
105
107
87
87
105
89 I
90 I
lt'6
1003, 101*4
110 u a
30paiiL d $42Ha p a id .
i
1096
THE CHRONICLE
[m re s tm e rx t a n d
KAILHOAD
R a ilro a d
GROSS
[VOL. LXXXX.
In te llig e n c e .
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 gross 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. W e add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not began with July, but covers some other
period. The returns of the electric railways are brought together separately on a subsequent page.
La test G ross E a rn in g s .
C u rre n t P re v io u s
W eek o r
Y e a r.
Year
M o n th .
July 1 to La test D a te .
C u rre n t
Y e a r.
P re v io u s
Y e a r.
Ala NO & Tex Pac
322,077 273,847 2,621 ,888
N O A N E a s t... March___
357,511
141,970 133,486 1,294 ,308 .207,629
Ala A Vicksburg. March___
118,958 113.262 1,113 871
Vicks Shr & Pac. March
,076,871
7,490
5.376
55 467
Ala Tenn & North. February .
43,000
Atch Top A S Fe__ February . 7,920,699 7,227,314 18,80 1 ,600
,081,994
48,091
43,406 2,075 018
Atlanta nirm & Atl 2d wk Apr
648,461
Atlantic Coast Line February . 2,709,603 2,391,265 19,249 960
883,189
(/Baltimore A Ohio. March___ 7,643,399 6,037,578 64,302, 403
828,734
Bangor & Aroostook February . 261,895 240,79a 1,910 942
890,133
5,112
Bellctonte Central.. March___
6.200
52 409
52,425
Boston & Maine.. February . 2,943,840 2,810,433 28.919 508
202,187
34 467
Bridgeton A Saco R February .
3,929
33,622
3.377
,571,404
Buff Roch & Plttsb. 2d wk Apr 121,061 136,013 7,054 ,025
542,796
Bullalo & Susa___ February . 128.789 183,133 1,543 563
Canadian Northern. 2d wk Apr 255,500 177,800 0,717 ,700 ,760,000
Canadian Pacific__ 2d wk Apr 1,817,000 1,490,000 73,464 ,990 ,925,725
Central ot Georgia. 2d wk Apr 218,000 178,500 9,894 ,360 ,210,023
,874,155
Central of New Jers February . 2,087,904 1,762,353 18,670 ,066
,317,446
237,508 2,503 ,971
Central Vermont__ February . 259.45
66,706
71 ,872
2,331
1,200
Chattanooga South. 2d wk Apr
Chesapeake A Ohio. 2d wk Apr 597,091 509,002 24,483 ,480 ,619,435
,117,493
Chicago A Alton Ry 2d wk Apr 235,321 248,567 10,778 ,974
Chic Burt & Quincy February . 5 890,600 5,719,427 59.237 020 ,130.012
954,081 757,534 7,761 ,797 ,343,376
T> Chicago Gt West- February .
Chic Ind & Loulsv. 2d wk Apr 112,114 105,516 4,663 ,836 ,140,425
Chic Ind & Southern —See New York Cen tral.
Chic Mllw A St Paul February . 1,534,276 3,931,520 12,700,532 10,748,318
Ch Mil & Pug Sd. February . 717,642
Chic & Nor West__ February . 5,315,728 1,691,857 49,453,945 44,681,725
Chic St P M A Om._ February . 1,133,086 923,157 10,049,513 9,150,716
724,126
823,055
74,079
Chicago Term Trans February . 107,952
Cine Ham A Dayton February . 634,344 524,087 6,290,866 5.353.169
Clev CIn Chic & St L —See New York Cen tral.
Colorado Midland.. February . 152,452 151,756 1,617,491 1,581,795
Colorado & South.. 2d wk Apr 275,261 245,431 13.268.312 12,199,731
191,263
191,119
25,898
Colum Newb & Lau February _
25.772
460,578
447,916
Copper Range____ January . .
50,917
51,853
61,824
134,293
17,432
Cornwall________ February .
13,129
220,156
298,614
31.269
29,794
Cornwall A Leban. February .
Cuba Railroad......... February . 254,598 223,089 1,530,657 1,288,057
Delaware & Hud__ February . t,391,918 1,288,508 13,069,087 12,363,771
Del Lack & W est.. February . 2,556,962 2,219,043 23,874,126 22,055,223
Denv & Rio Grande 2d wk Apr 424.000 383,500 18.476.313 16,266,498
524,401
757,069
6,507
20,735
Denver N W A Pac. 1st wk Apr
24,732 1,221,395 1,207,916
25,676
Det Tol A Iront Sys 1st wk Apr
31,754 1,465,268 1,365,204
33,674
Ann Arbor_____ 1st wk Apr
905,550
951,999
20,879
26,460
Detroit A Mackinac 2d wk Apr
85,232 6,683,961 4,837.974
Dul A Iron Range. . February . 106,720
48,474 2,548,414 2,092,091
62,377
Dul South Sh A Atl 2d wk Apr
El Paso A Sou West February _ 562,974 618,294 4,736,992 4,634,383
E r ie ____ ________ February . 3,997,016 3,735,278 36,589,794 33,370,129
13,609
16,233
1,890
2,318
Fairchild & Nor E._ February .
562,453
663,093
60,085
71,997
Fonda Johns A Glov March___
Georgia Railroad. . February . 238,387 233,636 2,074,454 1,046,897
Georgia South & Fla —See Sout hern Rail way.
Grand Trunk Syst. 2d wk Mch 824,890 744,283 34,491,826 30,755,807
Grand Trk West. 1st wk Apr 134,894 123,672 4,709,814 4,251,254
33,389 1,544,981 1,298,408
36,338
Det Gr Hav A Mil 1st wk Apr
29,706 1,560,333 1,381,663
34.499
Canada Atlantic. 1st wk Apr
Great Northern Syst March___ 1,562,515 3,996,095 17,397,182 40,743,789
Gulf A Ship Island. February . 164,911 156,839 1,425,898 1,265,337
Hocking Valley___ February . 576,868 351,929 5,048,747 4,209,621
Illinois Central___ March___ 5,764,740 1,948,472 17,032,354 43,569,828
Internat A Gt Nor. 2d wk Apr 145.000 147.000 6,831,070 6,551,910
a Interoceanlc Mex. 2d wk Apr 171,472 149,321 5,982,204 5.403,357
65,028 2,658,692 2.430.170
Iowa Central.
58,418
2d wk Apr
Kanawha A Mich.. February . 216,951 128,261 1,830,730 1,476,164
854,877 746,166 7,114,226 6,601,055
Kansas City South. March___
090,858
26,400 1,353,654
35.500
K C Mex A Orient.. 1st wk Apr
Lehigh Valley
February . 2,443,285 2,143,045 23,381,149 21,705,053
254.931
287,270
Lexington A E ast.. February .
33,110
29,687
Long Island. .
Inc. 814, 214
February . Inc. 33, 625
785,897
848,818
Louisiana A Arkan. February.. 102,844 101,315
Loulsv Hend & St L March___
770,567
891,681
83,406
119,123
s Loulsv & N ashv.. 2d wk Apr
968,600 827,900 40,999,028 36,208,619
Macon & Blrmlng’m March___
110,637
112,724
13,566
13,759
Maine Central____ February . 627,891: 588,147 5,928,798 5.516,020
36,322
28,868
Manlstlque_______ March___
3,004
2,878
266,855
24,341
Maryland & Penna. February .
244.931
24,360
196,510 141,978 6,876,547 5,416,883
a Mexican Internat. 2d wk Apr
a Mexican Railway. 4th wk Mch 248,100 193,800 5,877,700 5,224,500
Michigan Central —See New York Cen tral.
13,564
648,587
668,695
Mineral Range__
13,866
2d wk Apr
96,731
82,465 3,866,940 3,367,016
Mlnneap & St Louis 2d wk Apr
Minn St P & S S Ml 2d wk Apr 437,756 351,388 19,056,898 15,875,068
Chicago Division]
70,497
453,834
59,857
580,529
-Mississippi Central. February .
Missouri Kan & Tex March___ 2,228,896 1,960,188 20,422,662 19,617,768
Mo Pac A Iron Mtl
Central Branch / 2d wk Apr 953.000 800.000 42,037,652 36,961,244
Nashv Chatt A St L February . 029,281 923,257 7,611,259 7,427,483
39,453,519 37,681,584
a Nat Rys of Mexico 2d wk Apr 1,053,242 099,775
301,605
9,423
306,377
7,548
Nevada-Gal-Oregon. 2d wk Apr
4,48
46,070
43,620
4,568
Nevada Central___ January . .
50,743
023,113
372,751
N O Great Northern February . 122,488
28,777 1,312,076 1,225.203
32,592
N O Mobile A Chic. Wk April 0
ROADS.
La test G ross E a rn in g s .
C u rre n t P re v io u s
Y e a r.
Y e a r.
S
N Y C A Hud Rlv. February 0,937,297 0,143,362
Lake Shore & M S February 3 611,126 2,985,516
420,333 328,035
n Lake E A West February
369,129 230,890
Chic Ind A South February
Michigan Central. February 2,129,865 1,891,207
Cleve C C & St L . February 2,171,567 1,884,705
Peoria A Eastern February . 239,770 210,279
80,77.'
74,309
Cincinnati North. February .
Pitts A Lake Erie February , 1,188,226 783,784
Rutland ______ February ,
193,637 186,004
N Y Chic A St L. February . 806,339 644,580
18148061 15362671
Total all lines__ February
N Y Ont A Western February
544,670 557,812
N Y N II & H artf.. February 1,238,012 3,826,500
278,581 280,923
N Y Susq A W est.. February
Norfolk A Southern February
109,406 196,009
Norfolk A Western. February 2.657.233 2,167,477
946,379 788,979
Northern Central-. February
Northern Pacific__ February
1,620,755 1,309,819
Pacific Coast Co__ February
548.201 445,096
Pennsylvania C o __ February
3,767,355 2,671,607
d Penn—E of P & E February
12424 960 10314 160
d West of P & E February
Inc:l,75 6,300
Pere Marquette___ February
1,161,369 1,010,563
Phlla Balt A Wash. February 1.282,316 1,232,416
Pitts CIn Ch & St L_ February 2,649,941 2,073,528
Raleigh A Southp't Feburary
13,171
12,667
Reading Company.
Phlla A Reading. February . 3,501,360 2,906 ,739
Coal & Iron C o.. February . 2,715,067 2,497 ,772
Total both cos__ February . 6,217,327 5,401 ,511
Rich Fred A Potoin February . 196,667 169 620
64 ,516
70,546
Rio Grande June__ January . .
9,552
9 900
Rio Grande South.. 2d wk Apr
Rock Island System February . 1.872.234 1,574 736
St Jos & Grand Isl’d February . 121,597 123, 541
St Louis A San Fran February . 3,056,201 2,950 734
Chic & East 111.. February . 1,009,110 781, 127
/ Evansv & Ter H February . 179,352 149, 255
Total ot all lines. February . 1,244,675 3,881, 116
St Louis Southwest- 2d wk Apr 191,919 175 635
San Ped L A A S L . February . 282,182 555, 332
Seaboard Air Line.. '
Atlanta A Blrm . . )2d wk Apr 414,908 350,107
Florida YVShore .
Southern Indiana..
Southern Pac Co__
Southern Railway..
Mobile A O h io ...
CIn N O A Tex P .
Ala Great South.
Georgia So A Fla.
Texas Central____
Texas A Pacific___
Tidewater A YVcst.
Toledo A Ohio Cent
Toledo Peor A West Toledo St L A West ;
Tomblgbee Valley..
Union Pacific Syst.
Vandalla________
Virginia A Sou West i
Wabash...................;
Western Maryland. ]
W Jersey A Seash..
Wheeling A L Erie. J
White River (Vt)_.
Wrlghtsv A Tenn..
Yazoo A Miss Vail.
e
V a rio u s F is c a l Y e a rs.
July 1 to L a te s t D a te .
C u rre n t
Y e a r.
P re v io u s
Y e a r.
55,026,478 58,371,767
32,350,890 27.542,593
3,721,591 3,067 304
2,490,670 1,885,279
19,113,069 16,680,099
19,645,521 17,340.596
2,194,044 1,884,986
734,061
823,354
11.580,302 7,915,918
2,132,522 1,903,552
7 150,480 6,108,871
166228915 143445026
5,581.924 5,489,325
39,823,940 35,533,186
2,289,789 2,121,219
1,709,503 1,532,417
22,769,041 19,178,752
8,629.969 7,603,669
19,286,061 16,102,384
5,351,102 4,213,547
35,510,068 27,236,327
109067113 93,811,413
Inc.12.95 9 300
10.574,807 9,333,519
11,817.094 10,959,694
22,327,216 18,167,155
88,243
102,852
),504,341
2,296,207
1,860,548
1,395,277
643,766
410,182
1,603,146
1,115 098
r,969,181
1,069,509
1,654,948
r,093,637
1,884,291
1,715,104
26,434,932
22,803,426
49,238,358
1,221,934
516,876
463,141
11,268,074
1,109,945
25,499,163
7,002,313
1,443,017
33,944,493
8,407,532
4,637,357
15,730,482 14,000,693
P e rio d .
to Mch 31
Bellefonte Central
516,275
to Feb 28 2,767,904
Delaware A Hudson
9,093
to Mch 31
Manlstlque__________
to Mch 31 2,011,000
a Mexican Railway__________
14,428,387
e N Y Central A Hudson Riverto Feb
Lake Shore A Michigan South
to Feb 28 7.485.003
844,944
n Lake Erie A Western_____
to Feb 28
694,041
Chicago Indiana A Southern.
to Feb 28
Michigan Central__________
to Feb 28 4,287,070
to Feb 28 4,495,804
Cleve CIn Chicago A St Louis.
503,571
to Feb 28
Peoria A Eastern__________
170,206
to Feb 28
Cincinnati Northern_______
to Feb 28 2,523,999
Pittsburgh A Lake Erie____
400,145
to Feb 28
R utlan d ...................................
to Feb 28 1,745,748
New York Chicago A St Louis ....
Jan 1 to Feb 28 37,579,908
Total all lines.
to Feb 28 1,962,315
Northern Central__
to Feb 28 25,042.872 1
d Penn—East ot Pitts A Erie__
to Feb 28 Ine.3,66 i
d West of Pitts A Erie
to Feb 28 2,061.256
Phlla Baltimore A Washington .
to Feb 28 5,557,633
Plttsb CIn Chicago A St Louis. .
to Jan
_
Rio Grande Junction
152,540
to April 14 4.361.003
Texas A Pacific
to Feb 28
West Jersey A Seashore
639,354
AGGREGATES OF GROSS EARNINGS—Weekly and Monthly.
Y ear In c . or D ec.
M o n th ly S u m m a r ie s .
C u r ’n t Y e a r p r e v ’s Y e a r I n c . o r D e c .
%
S
$
S
5
5
5
183,083,829 + 26,373,397 14.33
1st week Feb (41 roads)___ 11,241,397 9,780,446 + 1,460,951 14.88 Month June 1909 (893 roads). 210,357,226
2d week Feb (41 roads)___ 11,527,304 10,035,605 + 1,491,699 14.86 Month July 1909 (885 roads). 219,961,730 195,245,655 + 24,719,084 12.66
3d week Feb (43 roads)___ 11,051,964 10,014,754 + 1,037,205 10.35 Month Aug 1909 (883 roads). 230,559,877 200,877,014 +29,682,803 14.35
4 th week Feb (43 roads)___ 12,106 142 10,615,776 + 1,490,366 14.04 Month Sept 1909 (882 roads). 246,065,056 219,013,703 + 27,052,253 12.35
1st week Mch (43 roads)___ 11,839,056 10,570,707 + 1,259,349 11.90 Month Oct 1909 (881 roads). 222,006,184 205,455.121 + 16,551,063 8.05
2d week Mch (45 roads)___ 12,145,513 10,841,217 + 1,304,296 12.03
Month Nov 1909 (756 roads). 247,370,051 211,281,504 + 30,089,450 17.08
3d week Mch (43 roads)___ 12,425,300 10,792.998 i +1,632,302 15.12 Month Dec 1009 (756 roads) 260,613,053 232,201,182 + 28,351,871 12.21
4th week Mch (49 roads)___ 19,459,324 16,567,644 + 2,891,680 1745
Month Jan 1910 (740 roads). 207,281.856 180,857,628 + 26,424,228 15.18
1st week Apr (44 roads)__ <* 12,373,504 11,053,524 + 1,319,980 11.94 Month Feb 1910 (773 roads). 200,120,088 172,751,230 + 27,377,858 15.85
2d week Apr (40 r o a d s).... 12,201,623 10,672,458 + 1,529,165 14.33 Month Mch 1910 ( 53 roads) . 05.155,888 50,300,415 + 8,705.473 15.61
a Mexican currency, d Covers fines directly operated, e Includes the New York A Ottawa, the St. Lawrence A Adirondack and the Ottawa A
N. Y. Ry., the latter of which, being a Canadian road, does not make returns to the Inter-State Commerce Commission, f Includes Evansville A
Indiana RR. g Includes the Cleveland Lorain A Wheeling Ry. In both years, n Includes the Northern Ohio RR. p Includes earnings of MasonClty
A Ft. Dodge and Wise. Minn. A Pacific, s Includes Louisville A Atlantic from July 1 1909 and the Frankfort A Cincinnati from Nov. 1 1909.
W e e k ly S u m m a r ie s .
C u r ’n t Y e a r P r e v ’s
THE CHRONICLE
A m . 23 1910.]
Latest Gross Earnings by W eeks.— In the table which fol
lows we sum up separately the earnings for the second week
of April. The table covers 40 roads and shows 1 4 .3 3 %
increase in the aggregate over the same week last year.
S e co n d W eek
o/
1909.
1910.
A p r il.
Alabama Great Southern_____
Atlanta Birmingham & Atlantic
Buffalo Rochester A Pittsburgh
Canadian Northern__________
Canadian Pacific____________
Central of Georgia___________
Chattanooga Southern_______
Chesapeake A Ohio__________
Chicago A Alton________ ____
Chicago Indlanap A Louisville.
Clncln New Orl & Texas Pacific
Colorado A Southern________
Denver A Rio Grande________
Detroit A Mackinac_____ ____
Duluth South Shore A Atlantic.
Georgia .Southern & Florida —
Grand Trunk of Canada--------Grand Trunk Western.... . . .
Detroit Grand Haven A MUw
Canada Atlantic. _ -----International & Great Northern
Interoceanlc of Mexico______
Iowa C entral______________
Louisville & Nashville---------Mexican International---------Mineral Range_____________
Minneapolis A St L ouis.-----Minneapolis St Paul & S S M._
Chicago Division-------------Missouri Pad He—...................
Mobile A Ohio_____________
National Railways of Mexico..
Nevada-Callfornla-Orcgon___
Rio Grande Southern_______
St Louis Southwestern______
Seaboard Air Line__________
Southern Railway_____ _____
Texas A Pacific.. _ __ ___
Toledo Peoria A W estern ___
Toledo St I.ouls & Western.
Wabash.......................................
Total (40 roads)___
Net Increase (14.33%).
In crea se.
S
S
59,191
77,254
43,406
48,091
136,013
121,061
177,800
255,500
1,817,000 1,190,000
178,500
218,000
1,200
2,331
509,002
597,091
248,567
235,321
105,516
112,114
140,537
176,098
245,431
275,261
383,500
424,000
20,879
26,460
48,474
62,377
38,867
39,503
[ 824,890
J
744,283
145,000
171,472
58,418
968,600
196,510
13,564
96,731
437,756
147,000
149,321
65,928
827,900
141,978
13,866
82,465
351,388
953,000
188,602
1,053,242
7,548
9,552
191,919
414,908
1,114,721
275,1 16
19,001
74,675
498,906
800,000
187,333
999,775
9,423
9,900
175,635
350,197
980,267
242,327
17,897
74,016
474,673
S
18,060
4,685
77,700
327,000
39,500
1,131
88,089
6,598
35,561
29,830
40,500
5,581
13,903
636
D ecrease.
$
14,952
13,246
80,607
22,151
140,700
54,532
2,000
7,510
302
14,266
86,368
153,000
1,269
53,467
16,314
64,711
134,454
32,789
1 ,104
659
24,233
12,201,623 10,672,458 1,569,398
1,529,165
1,875
348
_____
—
40,233
For the first week of April our final statement covers 44
roads and shows 1 1 .9 4 % increase in the aggregate over the
same week last year.
1910.
1909.
In c re a se .
D ecrease.
S
S
S
12,255,837 10,962,601 1,352,026
1,530
552
2,082
14,228
20,735
6,507
944
24,732
25,676
1,920
31,754
33,674
9,100
26,400
35,500
$
58,790
Total (44 roads) ____________ 12,373,504 11,053,524 1,378,770
1,319,980
58,790
F ir s t W e e k o f A p r il.
Previously reported (39 roads) .
Chattanooga Southern_______
Denver Northwestern A Pacific
Detroit Toledo & Ironton_____
Ann Arbor.............................
Kansas City Mexico & Orient..
Net Earnings Monthly to Latest D ates.— In our “ Railway
Earnings” Section, which accompanies to-day’s issue of the
■
“ Chronicle” as a special Supplement, we print the February
returns of earnings and expenses (or in the absence of the
February figures those for the latest previous month) of
every steam-operating railroad in the United States which is
obliged to make monthly statements to the Inter-State
Commerce Commission at Washington.
The Inter-State Commission returns arc all on a uniform
basis, both as to revenues and expenditures, and possess
special utility by reason of that fact. In a number of in
stances these figures differ from those contained in the
monthly statements given out by the companies themselves,
for publication, and in which the accounts are prepared in
accordance with old methods of grouping and classification
pursued in many instances for years. W e bring together
here (1) all the roads where there is a substantial difference
between the two sets of figures, so that those persons who
for any reason may desire to turn to the company statements
will find them readily available. W e also give (2) the re
turns of such roads (even where the figures correspond ex
actly with those in the Inter-State Commerce reports) which
go beyond the requirements of the Commission and publish
their fixed charges i n a d d i t i o n to earnings and expenses, or
(3) which have a fiscal year different from that of the Inter
State Commerce Commission, in which latter case we insert
the road so as to show the results for the company’s own
year. W e likewise include (4) the few roads which operate
entirely within State boundaries, and therefore do not report
to the Federal Commission, and (5) Mexican and Canadian
companies. W e add (6) the roads which have issued their
own statements for February, but have not yet filed any
returns for that month with the Commission. Finally (7)
we give the figures of any roads that have already submitted
their March statement.
----- G r o s s F.' a r n i n g s ----- ■------N e t E a r n i n g s -----R oads.
C urrent
Y ear.
P r e v io u s
Y ear.
C urrent
Y ear.
P r e v io u s
Y ear.
$
$
$
$
Atcli Top A Santa Fe. b.Feb 7,920,699 7,227,314 J2,245,607 42,765,712
July 1 to F’eb 28._____ 68,801,600 61,981,994 J23.332.164 J23,884,785
Baltimore A Ohio b ..Mch 7.613,399 0,037,578 2,633,004 1,850,973
July 1 to Mch 31. . ...64,302,463 55,828,734 20,368,560 18,717,140
249,795
264,895
Bangor A Aroostook b ..F eb
113,995
91,753
July I to F'eb 28
1,916,942 1,890,133
754,845
641,122
Bellefonte Central, b . Mch
5,112
6,200
720
def 259
Jan 1 to Mch 31
15,207
692
16,275
1,375
Bridgeton A Saco Itlv . F'eb
3,377
836
3,929
600
July 1 to F’eb 28
33,622
34,467
10,403
10,107
Canadian N orthern . . . .Feb
698.900
502,600
131,500
93,400
July 11 to F'eb 28.
8,280,500 0,663,900 2,362,000 1,051,600
1097
------ G r o s s
R oads.
C urrent
Y ear.
E a r n i n g s ----P r e v io u s
Y ear.
$
§
Canadian Paclflc.a......... Feb 5,992,052 4,966,208
July 1 to F'eb 28_____ 62,021,990 50,439.725
Central of New Jer.b__ Feb 2,087,904 1,762,353
July 1 to Feb 28_____ 18,670,066 16,874,155
Chesapeake A O hlo.b__ Feb 2,387,680 1,874,035
July 1 to Feb 28_____ 20,584,247 17,386,609
Chic Great W estern.!)..Feb 954,081
757,734
Sept 1 to Feb 28_____ 5,880,519 5,576,138
Colorado MIdland.a_____ Feb 152,452 154,756
July 1 to Feb 28______ 1,617,491 1,581,795
Colorado A Southern.b.Feb 1,293,325 1,168,986
July 1 to Feb 28_____ 11,345,161 10.523,325
Copper Range.b________Jan
50,917
51,853
July 1 to Jan 31_____
447,916
460,578
Cuba R R ..................
Feb
254,598
223,089
July 1 to Feb 2 8 .......... 1,530.657 1,288,957
Delaware & H udson.b.-Feb 1,391,918 1,288,508
Jan 1 to Feb 28_____ 2,767,904 2,753.194
Denver & Rio Grande.a.Feb 1,681,881 1,340,473
July 1 to Feb 28_____ 15,775,013 13,868,698
Dul So Sh & A tl.b _______Feb 213,703
195,621
July 1 to Feb 28______ 2,144,772 1,776,446
E rie.a-..............................Feb 3,997,016 3,735,278
July 1 to Feb 28_____ 36,589,794 33,370,129
Fonda Johns & G lov.a.-M ch 71,997
60,085
July 1 to Mch 31_____
603,093
562,453
Georgia R R .b .................Feb
238,307
233,636
July 1 to Feb 28______ 2,074,454 1,946,897
Grand Trunk of Canada —
Grand Trunk R y______Feb 2,247,836 1,964,606
July 1 to Feb 28_____ 22,312,911 20,141,753
Grand Trunk Western Feb 460,857
351,848
July 1 to Feb 28______ 4,026,862 3,634,547
Det Gr Hav & M llw .-.Feb
140,155
105,603
July 1 to Feb 28______ 1,369,326 1,145,909
Canada A tlantic______Feb 116,309
106,576
July 1 to Feb 28______ 1.379,185 1,222.450
Gulf & Ship Island.a____ Feb
164,911
156,839
July 1 to Feb 28______ 1,425,898 1,265,337
Hocking V alley.a . ............Feb 576,868
351,929
July 1 to Feb 28______ 5,048,747 4,209,621
Illinois Central.a_______ Feb 4,914,916 4,547,457
July 1 to Feb 28____ 41,267,614 38,621,356
0 Interoceanlc of Mex___ Feb 695,298
652,666
July 1 to Feb 28______ 4,867,788 4,415,004
Iowa Central.a.................Feb
250,906
223,838
July 1 to Feb 2 8 _____ 2,247,731 1.994,389
128,262
Kanawha & Mich.a____ Feb 216,951
July 1 to F'eb 28............ 1,830.730 1,476,164
Kansas City Southern. b.Mch 854,878
746,166
July 1 to Mch 31______ 7.114,226 6,601,055
Long Islan d___ _______ Feb
Inc 33,625
Jan 1 to Feb 28_____
Inc 85,381
Louisiana & Arkansas, a .Feb
102,844
101,315
July 1 to Feb 28_____
848,818
785,897
Loulsv Hend A St L .a .-F eb
86,557
79,150
July 1 to Feb 28_____
772,558
687,161
2,878
3,004
M anlstlque.b.__________Mch
Jan 1 to Mch 31_____
9,093
10,274
Maryland & Penna.a____ Dec
36,057
26,769
July 1 to Dec 31_____
218,732
197,034
g Mexican Internat’l ____ Feb
808,282
576,662
July 1 to Feb 28______ 5,739,773 4,547,485
Mineral Range.b............. Feb
63,208
60,742
571,670
551,255
July 1 to Feb 28_____
Mlnneap & St L ou is.a..F eb
321,093
258,632
July 1 to Feb 28__ . . . 3,309,698 3,835,863
Mlnneap St P A S S M.a Feb
843,090
776,653
July 1 to Feb 28______10,648,617 8,578,094
Chicago Dlvlslon.a___ Feb 652,754
535,919
July 1 to Fck 28______ 5,653,263 5,002,885
Mississippi Central b___ Feb
70,497
59,857
July 1 to Feb 28_____
580.529
453,384
Missouri Kans A T ex.b.F eb 1,921,341 1,859,992
July 1 to Feb 28______18,193,765 17,657,580
Missouri Pacific_b............ Feb 4,111,208 3,559,885
July 1 to Feb 28_____ 35,361,652 31,294,244
(/ National Rys of M ex..Feb 4,144,077 3,966,398
July 1 to Feb 28_____ 32,503,022 30,920,053
Ncvada-Cal-Oregon.b___ Feb
27,032
24,990
July 1 to Feb 28_____
318,688
247,762
New Orl Gt Northern .a.Feb
122,488
50,743
July 1 to Feb 28_____
923,113
372,751
N Y Cent & Hud Itlv .b.Feb 6,937,297 6,143,362
Jan 1 to Feb 28______14,428,387 12,755,006
Lake Sh & Midi So.b .F eb 3,611,126 2,985,516
Jan 1 to Feb 28_____ 7.485,003 6,302,242
Lake Eric & W est.b ..F eb
420,333
328,035
Jan 1 to Feb 28_____
844,944
662,263
Chic Ind & South, b .-Feb 369,129
230,890
Jan 1 to Feb 28_____
694,041
496,494
Mich C entral.b...........Feb 2,129,865 1,891,207
Jan 1 to F’eb 28_____ 4,287,970 3,798,868
Clev Cine Ch & St L .b F’eb 2,171.567 1,884,705
3,909,669
Jan 1 to F'eb 2 8 .......... 4 . 495,804
Peoria & Eastern.b—Feb 239,770
210,279
Jan 1 to F'eb 28...........
503,571
419,042
Cincinnati Northern b Feb
80,773
74,309
Jan 1 to Feb 28_____
170,296
151,448
Pitts & Lake E rie.b-.F eb 1,188,226
783,784
Jan 1 to Feb 28_____ 2,523,999 1,621,012
Rutland b _________ Feb 193,636
186,004
400,145
381,839
Jan 1 to F’eb 28_____
N Y Chic A St L b .-.F e b
806,339
644,580
Jan 1 to Feb 28_____ 1,745,748 1,396,434
Total all lines.b____ Feb 18,148,061 15,362,671
Jan 1 to F'eb 28_____ 37,579,908 31,894,317
N Y Ontario & V /cst.a--Feb
544.670
557,812
July 1 to Feb 28_____ 5.581,924 5,489,325
N Y Susq A W estcrn.a.-Feb 278,581
280,923
July 1 to F'eb 28_____ 2,289,789 2,124,219
Norfolk & W estern.b.-.Feb 2,657,233 2,167.477
July 1 to Feb 2 8 .......... 22,769,641 19,178,752
Northern Central.b___ Feb
946,379
788,979
Jail 1 to Feb 28_____ 1,962,315 1,656,015
Pacific Coast___________ Feb
548,201
445,096
July 1 to F’eb 28_____ 5,351,103 4,213,548
Pennsylvania—Lines directly operated—
East of Pitts A Erie..Feb 12,424,960 10,314.160
Jan 1 to Feb 28_____ 25,642,872 21,534,972
West of Pitts & Erie..Feb
ltlc 1,756,300
Jan 1 to F'eb 28_____
Inc 3,668,500
------ N e t
C urrent
Y ea r.
E a r n i n g s -----P r e v io u s
Y ear.
$
$
1,487,020
762,145
22,873,492 15,193,072
927,567
654,458
8,635,413 7,152,906
614,549
836.312
8,293,663 6.623.559
154.330 def.3,214
940,354
1.503.786
7,917
def3,581
335,278
248,109
341,250
456,395
4.333.025 3,651,277
11,781
15,965
111,160
212,694
114,955
122,339
540,962
596,629
387,376
428,148
907,767
856.331
189,950
376,869
4,404,976 3,927,697
41,615
54,782
472,820
670,890
942.810
921,231
10,103,303 8,437.203
25,429
35,238
274,803
338,358
54,918
45,481
387,718
571,609
321.189
382,020
4.986.025 5,035,989
30,173
89,057
910,454
991,742
4,380
21,899
340,616
266,995
4,866 defl4,113
220,568
61,181
37,716
34,882
283,142
386,658
56,571
193,778
1,770,843 1,212,731
1,052,277 1.049.559
8,395,474 8,757,452
228,498
255,468
1,693,291 1,422,982
ftl8,379
h32,742
ft473,650 ft357,606
2,484
44,507
261.189
502,404
293,558
287,485
2,451,299 2,561,481
Dec 6 844
Dec 3 048
37,665
30,847
214.511
294,605
19,417
21,546
202,894
208,544
317
def 756
2,534
def2,428
82
6,124
62,737
61,245
302,687
246,040
2,443,275 1,804,284
859
2,334
92.680
82,376
Jc25,976
fc29,065
fc919.948 k874,314
192,922
188,411
4,738,942 3,261,123
92.681
180,383
1,653,577 1,396,955
29,203
25,751
170,116
234,753
396,378
354,878
5.799.225 5,319,860
739,059
861,705
10,542,800 9,155,063
1.627.786 1,600,841
12,270,596 111,715,869
11,556
11,404
133,982
170.911
7,868
51,830
38,581
332,087
1.604.208 1,241,927
3,390,982 2,692,561
1,195,024
917,027
2,508,834 2,144,291
123,134
51,224
225,091
77,654
57,479
142,619
243,520
128.810
522,886
573,210
1,116,849 1.030.476
515,273
401,853
1,121,635
853.512
53,369
47,243
133,871
83,757
21,873
9,185
39,323
20,251
631,702
364,075
1,361,793
769,891
40,112
35,737
85,093
74,263
220,877
110,775
572,275
284,010
5,121,401 3,759,193
10,799,266 8.159.476
79,532
117,678
1,536,585 1,588,173
107,194
95,953
639,829
656,135
992,094
799,515
9,278,135 7,580,858
107,884
9,134
243.312
57,612
93,387
27,862
1,127,419
579,723
2.820.209 1,990,509
6,041,308 4,518,508
Inc 503,900
Inc 1,325,800
1098
THE CHRONICLE
- G r o s s E a r n i n g s ---C urrent
P r e v io u s
Y ear.
Y ear.
R oads.
------N e t
C urrent
Y ea r.
%
E a r n i n g s ----P r e v io u s
Y ea r.
$
$
$
Pere Marquette.b----------Feb 1,161,369 1.010,563
171,951
253,872
July 1 to Feb 28_____ 10,574,807 9.333,519 3,179,147 2.661.105
Pitts CIn Ch & St L .a __ Feb 2,649,941 2.073,528
417,825
534,193
Jan 1 to Feb 28_____ 5,557,633 4,222,361 1,252,673
833,025
Phlla Balto A Wash____ Feb 1,282,316 1,232,416
176,113
108.313
Jan 1 to Feb 28........... 2,661,256 2,495,556
341,290
422,196
Reading Company—
Phila A R ead in g.b ...F eb 3,501,360 2,906,739 1,345,562 1,139,066
July 1 to Feb 28-------- 29,564,341 26,434,932 11,474,320 10,392,388
Coal & Iron C o.b.........Feb 2,715,967 2,497,772
139,886 def. 14,033
July 1 to Feb 28_____ 22,296,207 22,803,426
937,431 1,161,270
Total both c o .s .b ____ Feb 6,217,327 5,404,511 1,485,448 1,125,033
July 1 to Feb 28_____ 51,860,548 49,238,358 12,411,751 11,553,658
Reading Company_Feb
________
______
128,657
134,288
July 1 to Feb 28_____
_____
_____
1,163,811 1,002,825
Total all companies__ Feb
______
_____
1,619,736 1,253,690
July 1 to Feb 28...................... ........
............ 13.575,562 12,574.483
Rio Grande Junction__ Jan
70,546
64,510
n 19,354
n21,163
Dec 1 to Jan 31_____
152,540
133,235
n39,970
«45,762
Rio Grande Southern.b-Feb
49,311
32,603
2,392
14,033
July 1 to Feb 28_____
347,575
394,142
146,243
97,943
Rock Island.b_____ ___ Feb 4,872,234 4,574.736
938.921 1,199.627
July 1 to Feb 28_____ 44,693,146 41,268,074 13,047,196 12,199,900
St Joseph & Grand Isl.b .F eb
121,597
123,541 defl5,158
39,825
July 1 to Feb 2 8 .......... 1,115,698 1,109,945
393,130
178,333
St Louis A San Fran. b.-F eb 3,056,204 2,950,734
937,055 1,090,117
July 1 to Feb 2 8 .......... 27,969,181 25,499,163 8,304.551 8.001.105
Chic & East Illinois.b.Feb 1,009,119
781,127
253,277
249,392
July 1 to Feb 28_____ 8,069,509 7,002,313 2,638,065 2,071.817
Evansv A Ter H au.b.Feb
179,352
47,754
149,255
45,677
July 1 to Feb 28.......... 1,654,948 1,443,017
515,992
634,531
3,881,116 1,232,124 1,391,147
Total all lines.b____ Feb 4,244,675
July 1 to Feb 28........... 37,693,637 33,944,493 11,577,146 10,588,915
St Louis Rocky Mountain A
Paclllc.a___________ Mch 173,067
.........
61,280
July 1 to Mch 31_____ 1,258,858
_____
425,430
St Louis South western.a. Feb 840,735
830,447
141,363
128,560
July 1 to Feb 28_____ 7,548,500 7,196,164 2.015,340 1,674,063
Southern Pacific.a_____ Febl0.105.106 8,560,998 2,937,771 2,427,999
July 1 to Feb 23..........90,452,592 80,144,758 33,188,460 27,585,900
19,050
Texas Central.a________ Feb
88,514
92,057
32,721
July 1 to Feb 28...........
746,892
854,816
279,239
226,749
200,188
Texas & Pacific.b______ Feb 1,185,534 1,090,438
226,679
541,730
Jan 1 to Feb 28........... 2,546,817 2,337,247
612,302
481.831
Toledo A Ohio Cent.a ___ Jan 357,048
262,462
117,118
913,792
July 1 to Jan 31_____ 2,584,623 2,735,629
854,475
Toledo Peor & W e s t.b ..Mch
96,122
94,300
17,331
15,625
168,722
July 1 to Mch 31_____
901,583
842,3 54
224,343
Union Paclllc.a________.Feb 6,326,765 4,984,304 2,394,995 2,010,102
July 1 to Feb 28...........60,687,757 52.968,123 28,574,385 26,274.126
22,579
Virginia A Southw.b__ Mch 107,735
86,820
34,213
July 1 to Mch 31_____
918,872
318,504
902.264
228.300
rl22,359
r227,466
Western Maryland.a___ Feb 534,940
West Jersey & Seashore.Feb 329,144
302,444 def24,716 det24,716
Jan 1 to Feb 2 8 ____
595.154 deC62.712 def 7 l ,412
639,354
53,483
826,631
112,271
Yazoo A MIS3 Val.a. ...F e b
784,748
900,540
July 1 to Feb 28_____ 7,078,410 7,097,794 1,089,567
INDUSTRIAL COMPANIES.
----- G r o s s E a r n i n g s --------------N e t
C urrent
Y ear.
C o m p a n ie s .
Am Pow A Lt(sub cos) a-Mch
Pittsburgh Coal Co—■
Jan 1 to Mch 31-------Portland (Me) Elec Co.-Mch
5
154,950
-------29,962
P r e v io u s
Y ear.
C urrent
Y ear.
5
133,820
$
65,943
43,506
27,120
792,538
18,512
429,200
15,490
In te r e st C harges and S urplus.
R e n t a l s , A c .—
C urrent
P r e v io u s
Y ear.
Y ear.
— D a l.
o f N e t E ' n g s .—
C urrent
P r e v io u s
Y ear.
Y ear.
$
$
$
$
Bangor A Aroostook__ .Feb
X19,164
83,214
79,398
X42.I90
X56.348
July 1 to Feb 2 8 .. ___
671,469
655,655 X202.006
Bellcfonte Central. __ Mch
236
243
481
def 502
Jan 1 to Mch 3 1 .. ___
646
708
729
def 16
Bridgeton A Saco RIv. .Feb
593
def 35
635
243
July 1 to Feb 28 .. ___
5,096
5,630
4,833
5,011
Central of New Jersey.. .Feb 527,464
400,103
127,990
526,469
July 1 to Feb 2 8 .. ___ 3,951,461 4,053,123 4,683,952 3,099,781
Chesapeake A O h io __ .Feb a509,573 (1549,379
326,734
65,170
July 1 to Feb 2 8 .. ___ a4,110,070 04,117,751 4,183,593 2,505,803
Chicago Great Western. .Feb 216,096
280,878 xdef61,818.rdef280,895
Sept 1 to Feb 2 8 .. ___ 1,260,731 1,731,582 x254,769xdef774,385
Colorado Midland____ .Feb
31,446
31,350 edef8.546 edef29,936
July 1 to Feb 2 8 .. ----024,184
250,993
250,800 edcf55,929
Colorado A Southern.. .Feb 256,541
251,280
(*85,205
cl 11,090
July 1 to Feb 2 8 .. ___ 2,036,876 2,052,759 02,438,551 01,836,245
Copper Range_______ -Jan
13,217
12,437
2,748
def 656
July 1 to Jan 31 ___
84,563
26,597
87,980
124,714
Cuba RR......................... .Feb
36.667
81,195
33,760
85,672
July 1 to Feb 2 8 .. ----279,843
288,544
261,119
308,085
Denver A Rio Grande.. -Feb 456,279
331,954 (U32.498 ddef85,708
July 1 to Feb 2 8 .. ----- 3,543,559 2,678,649 d 2,375,355 (12,048,263
Duluth So Sh A Atlantic .Feb
95,215
90,556 xdef35.324 xdcf47.047
July 1 to Feb 2 8 .. ___
769,003
724,226 xdef60,887xdcf207,834
60,897
59,478 xdef5,708
Georgia. R R _________ .Feb
X.3,112
July 1 to l'cb 2 8 .. ___
483,610
486,815 X168.587 xdef26,557
.Feb
31.510
Gulf A Ship Island___
35,776
x l ,401
x2.146
July 1 to Feb 2 8 .. ___
252,434
280,231 X142.176
X7.700
Hocking Valley______ .Feb
92,875
98,438 X160.024
xl ,587
July 1 to Feb 2 8 .. ___
770,352
790,067 Xl,713,804 X l,173,245
—D a l.
o j N e t E ’n g s .—
C urrent
P r e v io u s
Y ea r.
Y ear.
$
$
$
$
Kanawha & Mich_____ Feb
26,004
23,494
a * l ,4 0 5 x d e f 12,254
211,327
July 1 to Feb 28...........
185,317 3 * 0 5 ,2 8 4 3 * 4 7 ,0 1 5
Louisiana A Arkansas..Feb
25,262
20,428
3*4,246
3:24,622
190,893
July 1 to Feb 28...........
162,998 3*73,610 3*11,498
Loulsv Ilend A St L ___ Feb
14,019
15,034
3:8,062
3:4,493
127,213
July 1 to Feb 28...........
129,280
3:85,558
3:76,912
Maryland & Penna____ Dec
3,959
3,979
def3,877
2,145
July 1 to Dec 31_____
23,752
23,772
38,985
37,473
Mineral Range_________Feb
10,909
13,419 xdef7,527 xdefl2,546
July 1 to Feb 28_____
108,742
108,417 xdcf22,645 xdefl4,170
Missouri Kansas & T ex..F eb
585.419
508,884xdef222,078zdefl03,943
July 1 to Feb 28_____ 4,452,157 4,482.076 x l ,454,337 3-024,321
Nevada-Cal-Oregon_____Feb
3,612
3,955
X8.549
x8,029
July 1 to Feb 28_____
29,195
31,752 X150.586 x lll,6 8 6
New Orleans Gt North’n.Feb
46,749
22,784
3* 7.263 xdef2.78G
July 1 to Feb 28_____
369,630
171,520
X80.005 xdef50,195
N Y Ontario A Western.Feb
101.151 def 17,930
97,462
16,527
July 1 to Feb 28____ _
745,938
762,598
773,987
842,235
Norfolk A Western_____Feb 478,260
463,760
513,834
335,755
July 1 to Feb 28_____ 3,753,168 3,522,280 5,524,967 4,058,578
Pere Marquette________Feb 371,684
351,495 xdf 110,570 xdft72,745
July 1 to Feb 28........... 2,888,703 2,856,238 X343.001 xdf21,850
873,542
Reading Company.............. Feb 880,000
739,736
380,148
July 1 to Feb 28........... 7,040,000 0,988.333 0,535,502 5,586,150
Rio Grande Junction__ Jan
8,333
8,333
12,830
11,021
Dec 1 to Jan 31_____
16,660
16,666
29,096
23,304
Rio Grande Southern__ Feb
20,735
19,874 xdef.6,670 xdf.17,392
July 1 to Feb 28_____
155,676
155,538 xdf.46,870
xl,993
St Louis Rocky Mountain &
Pacific________
.Mch
34,455
2 6 ,8 2 5
July 1 to Mch 31_____
269,453
155,977
St Louis Southwestern..Feb
170,884
176,239
X 3.220
X l ,073
July 1 to Feb 28_____ 1,379|555 1,366,770 X 990.033 X 637.047
Texas C en tral.................... Feb
5,664
3,814
2 7 ,0 5 7
1 5 ,236
45,786
July 1 to Feb 28_____
39,874
180,903
2 3 9 ,3 6 5
Toledo & Ohio Central..Jan
35.832
41,072
X 88.255
X 17.869
July 1 to Jan 31...........
276,230
282,091 X 673.960 X 677.365
Toledo l ’eor & West_____Mch 25,782
24,275 xdefG,158 x d e f5 ,0 9 7
July 1 to Mch 31_____
221,260
211,792
X 23.334 x d e f2 4 ,3 3 5
INDUSTRIAL COMPANIES.
- I n t . , R e n t a l s , A c .— - - D a l . o f N e t E ’n g s .—
C urrent
Y ear.
C o m p a n ie s .
P r e v io u s
Y ear.
$
20,251
Am Pow & LtCsub cos) _. Mch
Pittsburgh Coal Co—
Jan 1 to Mch 31...........
Portland (Me) Elec Co..Mch
647,267
9,129
ELECTRIC
AND
$
12,173
C urrent
Y ear.
$
45,692
P r e v io u s
Y ear.
$
31,333
594,654
145,271 df. 105,454
9,194
9,383
6,296
a These figures are after deducting other income,
c After allowing for miscellaneous charges and credits to Income.
il These figures are after allowing for other Income and for discount and
exchange. The sum of $10,000 Is deducted every month from surplus
and placed to the credit of the renewal fund. •
x After allowing for other Income received.
R A IL W A Y
Nam e of
Road.
W eek or
M o n th .
5
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
These results are In Mexican currency.
For Feb. 1010 additional Income Is given as showing a deficit of $12,122,
against a deficit of $3,351 In 1909, and for period from July 1 to Feb. 28
there was a deficltof $23,297 In 1910, against a deficit of $54,985 last year.
] The company now Includes the earnings of the Denver Enid A Gulf RR.,
Pecos Valley System and Santa Fe Prescott A Phoenix Ry. In both years.
For February taxes amounted to $318,705, against $270,168 In 1909: after
deducting which, net for February 1910 was $1,926,902, against $2,495,545
last year. For period from July 1 to Feb. 28 taxes were $2,473,859 In 1910,
against $1,884,295 In 1909.
fc For Feb. 1910 additional Income was $1,196, against $9,677 In 1909;
and for period from July 1 to Feb. 28 was $89,431 In 1910, against S98.693
last year.
n These figures represent 30% of gross earnings.
r After allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for Feb. 1910 were $270,355, against
$138,934 In 1909.
—l n t . .
— I n t . , R e n t a l s , A c .—
C urrent
P r e v io u s
Y ear.
Y ear.
TRACTIO N
L a te st G ro ss E a r n in g s .
E a r n i n g s ----P r e v io u s
Y ear.
g
h
R oads.
[VOL. LXXXX
American Rys Co----- March___
cAur Elgin A Chic Rj February
Ilangor Ry A El C o.. March___
BIngnamton St Ry. Ft bruary .
Birin Ry Lt & Powe Lanuary ..
Brockton A Ply StRy February .
Cape Breton Elect Co February .
Carolina Pow & Lt Co March___
Central Penn Trac__ March___
Chariest Con Ry GAE March___
Chic &Oak Park El Rj March___
Chicago Railways Co fanuary ..
Cleve Palnesv A East February .
Dallas Electric Corp. February .
Detroit United Ry__ 1st wk Apr
Duluth-SuperlorTr Cc March___
East Penna Rys Co January ._
East St Louis A Sub. March___
El Paso Electric____ February .
Falrm & Clarks Tr Co March___
Ft Wayne A Wabash
Valley Traction C o . January _.
Galv-IIous Elec C o.. February .
Grand Rapids Ry Co. March___
Havana Electric Ry. Wk Apr 17
Honolulu Rapid Tran
& Land Co. __
February .
Houghton Co Trac Co February .
Illinois Traction Co. Ft bi nary .
Jacksonville Elec Co. February .
Kansas City Ry & Lt February .
Lake Shore Elec Ry. February .
MUw El Ry A Lt Co. February .
Mllw Lt lit A Tr Co. February .
Montreal Street Ry. - Wk Apr 15
Nashville Ry A Light March___
North Ohio Trac A Lt March___
North Texas Elec Co. February .
Northwest Elev Co. - March___
Norf A Portsm Tr C o Lanuary ..
Paducah Trac A LtCo February .
Pensacola Electr c Co February .
Portl(Ore) RyLAPCo. March___
Puget Sound Elec Co. February .
Rio de Janeiro Tran.
Light A Power. .. February .
St Joseph (Mo) Ry Lt
Heat A Power C o.. March___
Sao Paulo Tr, Lt A P. Ft bruary .
Savannah Electric Co February .
Seattle Electric Co__ January . .
Sou Wisconsin Ry Co March___
Tampa Electric C o.. February .
Toledo Rys A Light February .
Toronto Railways__ February .
Twin City Rap Tran 2d wk Apr
Underground El Ry
of London—
Three tube lines__ Wk Apr 16
Metropolitan Dlst. Wk Apr 16
United Tramways. Wk Apr 16
United Rys of St L .. February .
United RRs of San Fr February .
Whatcom Co Ry A Lt February .
C urrent
Y ear.
5
304,222
103,39!
42,229
25,48.
220,031
6,597
18,454
17.02C
63,884
67,314
74,081
1020,6 U
18,70!
105,200
158,504
85,131
51,04>
200,254
53,839
44,188
C O M PA N IE S.
Jan.
P r e v io u s
Y ear.
1 to
C urrent
Y ea r.
l a te s t d a t e .
revo u s
Y ea r.
$
$
$
264,318
866,585
789,459
94,331
205,183
193,972
125,018
37,720
112,394
24,061
52,665
50,354
192,034
220,030
192,034
6,730
13,472
13,816
15,891
40,379
34,223
14,575
52,252
42,438
57,136
184,117
167,332
60,394
199,914
179,063
642,154
67,570
583,713
945,857 1,020,614
045,857
16,482
39,786
35,468
94,588
223,921
196,840
130,742 2,101,087 1,761,061
72,998
240,759
211,556
43,246
51,048
43,246
158,537
563,681
460,009
45,373
111,797
96,885
33,085
120,111
93,153
123,255 109,673
123,255
109,673
182,042
85,411
82,552
173,987
251,031
86,211
225,177
76,136
600,852
566,877
42,606 37,345
72,075
30,323
62,749
36,531
47,504
45,429
22,165 21,869
828,870
735,294
394,37! 349,505
90,570
74,729
43,690 36,793
553,543 519,720 1,165,462 1,070,668
60,471
149,870
70,871
134,062
350,528 315,565
732,898
657,044
65,057 55,100
132,478
113,215
58,530
64,424
1,131,065 1,022,592
149,276 134,132
434,314
404,415
173,42
150,684
484,575
43 5,083
93,082 82,661
198,031
171,508
192.521 180,037
546,470
514,915
156,372 (l 157,4 3 9
156,372 (1157,439
18,771
36,855
17,807
41,512
38,865
19,812
19,081
40,420
435,652 370,730 1,259,939 1,004,058
248,276
275,588
131,219 125,418
582,36! 575,902 1,222,482 1,155,191
251,038
228,197
82,459 75,511
444,460
406,656
215,624 200,405
94,028
95,841
45,130 45,855
402,811
467,700
467,700 402,811
36,1 18
10,139
12,638
13,891
109,644
104,438
56,284 53,460
495,587
439,308
237,368 214,092
632,265
305,557 275,245
563,026
135,467 126,393 1,084,929 1,797,103
£13,005 £12,685 £199,745 £105,430
£10,949 £9,266 £162,117 £145,448
£83,74!
£5,715 £6,792
£70,826
807,439 808,161 1,693,221 1,637,107
570,983 543,638 1,108,649 1,110,011
32,816 30,745
69,017
64,003
c These figures arc for consolidated company.
Norfolk County Ferries.
d
Includes earnings of the
E lectric R a ilw a y N e t E a rn in g s.— T he follow in g table gives
th e returns of E L E C T R IC railw ay gross and n et earnings
reported th is w eek . A full detailed sta te m en t, inclu ding all
roads from w h ich m on th ly returns can be o b tain ed , is given
once a m on th in th ese colu m ns, and the la test sta te m en t of
th is kind will be found in the issue of Mar. 26 1910. T he
n e x t will appear in the issu e of April 30 1910.
------ G r o s s
C urrent
Y ear.
H oads.
E a m i n o s -----P r e v io u s
Y ear.
$
------IVOfr
C urrent
Y ear.
—I n t.,
R e n t a l s , & c .—
P r e v io u s
C urrent
Y ear.
Y ear.
i i n i y o ----P r e v io u s
Y ear.
$
231,722
822,008
18,787
213,181
10,841
22,719
$
$
265,532
240,343
Amcr Light A Tract Co.Mch 275,348
038,570
848,031
Jan 1 to Mch 31_ 960,171
22,819
37,720
Bangor Ry A Elec Co.b.Mch
42,229
244,196
400,105
July 1 to Mch 31__ . . 425,651
24,061
10,532
IMnghamton .Street Ry.-Feb
25,485
20,988
50,3 54
Jan 1 to Feb 28_____
52,065
Brooklyn Rap Tran Co.a—
___ _ 4,664,324 1,663,108
Oct 1 to Dec 31_____ 5,135,907
July 1 to Dec 31_____ 10,909,446 9,830,314 3,870,488
16,667
57,136
Central Penna Tract Co.Mch
63,884
42,484
167,332
Jan 1 to Mch 31___ - 184,117
60,304
23,590
Charleston ConRyGAEl.Mch
07,314
98,708
158,537
East St Louis A Sub. b. - Mch 200,254
460,909
269,053
Jan 1 to Mch 31_____
563,681
33,085
27,199
Falrm't A ClarksbTrCo b Mch 44,188
93,153
73,292
Jan l to Mch 31- 120,111
Hudson A Manhattan.a—
108,144
241,578
Oct 1 to Dec 31------572,901
326,751
375,151
July 1 to Dec 31------947,301
Intcrboro Rap Trans.b.Mch 2,678,216 2,475,261 1,695,348
July 1 to Mch 31-------- 21, j 30,079 19,525,352 13,318,592
Metropolitan Street Ry.a—
838,993
Oct 1 to Dec 31 ....... . 3,802,649 3,608,097
July 1 to Dec 3 1 ......... 7,546,388 7,218,050 1,843,385
298,728
115,407
Montreal Street Ry.b.-Mch 336,197
775,252
Oct 1 to Mch 31_____ 1,992,236 1,813,343
61,557
134,132
Nashville Ry A Light .a . Mch 149,276
186,017
404,415
434,314
Jan 1 to Mch 31_____
N Y & Queens County.a—
225
215,006
Oct 1 to Dec 31_____
232,011
74,265
150,684
Nor Ohio Trac A Lt.a_.Mch 173,424
108,402
435,083
484,575
Jan 1 to Mch 31.........
Third Avenue RR.a—
618,467
Oct 1 to Dec 31.......... 1,908,884 1,792,207
July 1 to Dec 31_____ 4,016,213 3,657,163 1,485,579
Troy A New England.b—
„
3,525
5,588
6,105
Oct 1 to Dec 31-------a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
In te r e s t C harges and S u rp lu s.
R oads.
1,265,305
3,116,824
12,702
36,886
20,758
66,555
193,030
19,896
55,219
44,621
24,387
1,553,054
11,434,225
534,422
426,591
04,896
663,759
51,845
162,028
def.4,934
63,964
183,112
604,558
1,142,515
def 1,167
—D a l.
o f N e t E 'n g s .C urrent
P r e v io u s
Y ear.
Y ea r.
$
$
$
$
9,717
5,701
13,086
13,102
Bangor Ry A Elec C o.. . Mch
126,193
102,397
118,003
110,784
July 1 to Mch 31-------1,612
1,430
9,411
8,890
Binghamton Street R y ..F eb
3,177
4,404
18,315
17,811
Jan 1 to Feb 2 8 -------Brooklyn Rap Trans Co—
£12,976
Oct 1 to Dec 31_____ 1,530,761 1,345,413 £225,324
July 1 to Dec 31_____ 3,090,955 2,068,725 £991,972 £631,064
6,841
9,600
13,917
13,990
Charleston ConsRyGAE.Mch
16,029
48,411
50,526
50,297
East St Louis A Sub___ Mch
44,215
119,279
149,774
148,821
Jan 1 to Mch 31___ .
7,587
14,590
12,309
12,609
Falrm’t A Clarksb Tr Co.Mch
18,274
36,577
36,945
36,715
Jan l to Mch 31-------Hudson A Manhattan—
£4,770
£18,456
170,505
437,024
Oct 1 to Dec 31_____
781,966
£943 £df.55,540
329,526
July 1 to Dec 3 1 _____
Interborough Rap Trans Mch 1,036.640 1,021,106 £689,833 £618,989
July 1 to Mch 31_____ 9,185,560 9,134,035 £4,453,088 £3,049,075
Metropolitan Street Ry—
683,916
799,743 £196,020 £df.231,814
Oct 1 to Dec 31___ __
July 1 to Dec 31 ......... 1,357,694 1,349,375 £574,785 £df.839,891
43,068
55,995
38,901
72,339
Montreal Street R y........Mch
214,978
465,710
198,043
560.274
Oct 1 to Mch 31...........
N Y A Queens County—
62,975
63,919 £df .02,439 def.68,853
Oct 1 to Dec 31-------43,291
20,101
43,803
30,974
Nor Ohio Trac A Lt-----Mch
129,874
131,486
68,528
51,626
Jan 1 to Mch 3 1 ------Third Avenue RR—
206.991
217,436 £422,863 £395,793
Oct 1 to Dec 31...........
413,930
425,506 £1,083,658 £726,043
July 1 to Dec 31-------Troy A New England—
2,630
£978 £def3,738
2,575
Oet 1 to Dec 3 1 ..........
x After allowing for other Income received.
A NN U AL REPORTS.
Annual Reports.— An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during ,the preceding month will be
given on the last Saturday of each month. This index will
n o t include reports in the issue of the “ Chronicle" in which
it is published. The latest index will be found in the issue
of March 26. The next will appear in that of April 30.
Chicago Railways Co.
( R e p o r t f o r F i s c a l Y e a r e n d i n g J a n . 31 1910.)
The second annual report, just issued, contains only the
following tables:
IN C O M E A C C T. F O R Y E A R E N D . J A N .
31— J O I N T A C C O U N T W I T H C I T Y .
1909-10. 1908-09.
1909-10.
S
$
*
Passenger earns..12,155,017 10,773,914 Malnt. of way, Ac. 546,507
4,619 Malnt. of equlpm’t 762,862
4,728
Chartered cars..
31,813 Renewals ______c r. 37,639
35,556
Mall .....................
44,333 Opcr. power plants 1,326,919
03,000
Advertising ____
14,033 Operation cars... 4,042,780
13,262
Rent of land, Ac..
33,974 General expenses. 1,393,538
27,182
Rent of equipment
17,925 Exp. acct. Invest
Salo of power___
19,922
ment real estate
62,867
41,711
Int. on deposits..
37,010
612,177
74,149 Taxes .................
Misccll. Income__
87,175
Orosslncome -.12.142,882 11,037,071
Total expenses. 8,710,017
Balance................................................................................... 3.732,805
Deduct Interest at 6% on valuation....................................... 2,275,719
Net Income.............................................................................. 1,457,140
D i v is i o n o f N e t I n c o m e —
1910.
1909. |
1910.
City of Chicago (55%) $801,430 $S6l,290|Ch!c. ltys. Co. (45%).S055.716
1099
THE CHRONICLE
APR. 2.3 1910,
1908-09.
514,763
844,712
171,201
1,000,1 19
3,618,09.3
1,119,639
51,837
371,955
7,725,950
3,311,121
1,739,681
1,571,437
1909.
$707,147
T R A F F I C S T A T I S T I C S F O R Y E A R S E N D I N G J A N . 31.
P a s s . C a r r ie d — 1909-10.
1908-09. I C a r M ile a g e — 1909-10.
1908-09.
Revenue------- 245,510,055 217,400,335 Passenger cars. 45,993,236 43,857,066
F ree............... 4,303,145 2,947,2871Mall cars____
104,763
164,388
Transfer______177,324,580 153,295,7661
44,021,454
Total______427,138,380 373,643,388, Total......... 46,157,999
65.06
Percentage of operating expenses to gross Income...... ............ .........65.38
1.57
Percentage of renewals to gross Income_____________________ .c r . 0.30
3.37
Percentage of taxes to gross income_______ ______________ __ 4.92
15.76
Percentage of Interest on plant value to gross Income............. .......18.29
14.24
Percentage of net divisible Income to gross income............. - ........... 11.71
Total ..............................................................................................100.00 100.00
Percentage of revenue and free passengers using transfers............. 73.98 69.57
IN C O M E S T A T E M E N T Y E A R S E N D . J A N . 3 1 -N O N -P A R T N E R S H IP A C C T
1909-10. 1908-09.
1909-10. 1908-09.
Co.’s proportion of
S
S
S
Int. accrued on 1st
S
income (see above) 662,105 707,147
M. bonds_____ 820,833 400,000
Int. on valuation of: •
Consol. M. bonds. ,199,989 1,213,016
2,270,901 1,739,684
Coll. A fund, notes 396,900 411,613
88,472
99,873
29,986
Underl’g securities
38,933
1,572
Int. on treas. secur.. 17,709
Mlscell. Items___
Int. on bd3. & collat.
Sink. fd. res’ve accr. 250,000 250,000
notes not tolled.. 26,951 153,665 Corporate expenses
Mlscellaneous Income 48,496
and adjustments. 150,758 124,140
3,114,637 2,739,302
Total deductions.2,818,480 2,433,327
Net Income available for dividends.
........................
296,157 305,975
* From these amounts payments were made to the depositaries, who disbursed
from the same an equivalent to 8% in 1909-10, against 4% in 1908-09, to the holders
of participation certificates, series 1, Chicago Railways Co.
AS O F J A N . 31.
1910.
1910.
1909.
L
i
a
b
il
it i e s —
$
A s s e ts —
$
$
100,000
Road, equlp’t,A c.5 7 ,024,117 45,642,087 Capital stock____
710,349 Bonds (see "Elec.
623,069
Treasury securities
Ry.” Sec.)____64 ,137,845
Bonds deposited as
498,000
collateral ____ *9 ,265,200 *9,265,200 Collat. 5% notes..
Collat. 6% notes.. 5 ,000,000
Consols In escrow
6% funding notes. 1 ,200,000
as reserve under
362,923 Old secur. exch’le
367.214
p la n ....................
4,190
under plan__
Consols In escrow
Creditors, Ac., of
for underlying
32,644
old cos..........
securities .........
4,190
Current liabilities. 2 ,345,334
6% coll, notes un
224,000 Int., taxes A sink.
sold ....................
224,000
fund accrued... 1,215,874
,014,001 1,633,237
Cash ---------------697,652 Reserves for dam
439,852
Accts. receivable.
27,440 ages. Ac______ 400,961
46,909
P repaid accounts.
156,645
Surplus...............
Income from treas
21,228
20,297
ury securities . .
GENERAL BALANCE SH EET
Total............... 75,058,819 58,616,760
1909.
S
100,000
47,387,845
498,000
5,000,000
1,200,000
32,644
163,362
2,310,142
926,753
848,039
143,975
Total............... 75,058,849 58,616,760
* Bonds deposited with trustees as collateral Include: With Union Trust Co.
as collateral to $5,000,000 6% collateral notes, consolidated mtge. bonds, series A,
5%, $6,707,200; as collateral to SI,200,000 6% funding notes, consolidated mtge.
bonds, series A, 4%, SI,666,000: with First Trust A Savings Bank, as collateral to
.$198,000 5% collateral notes, consolidated mtge. bonds, series A, 4%, $832,000.
—V. 90, p. 559, 446.
Pacific Gas & Electric Company.
Y e a r e n d i n g D e c . 31 1909.)
(S tatem en t f o r
E A R N IN G S
A N D
E X P E N SE S, A LL
C O M P A N IE S .
Gross revenue, $13,650,075; deduct revenue In suspense (San
Francisco rate cases), $317,574;balance,gross revenue_$13,332,501
Operating expenses, maintenance, taxes and reserves for uncol
lectible accounts, casualties, Ac____________________ 7,531,576
Net revenue_______________________________________ $5,800,925
Interest____________________________________________ 2,988,522
Balance__________________________________________ ____ $2,812,403
Accrued dlvs. on pref. stock ($600,000), sinking
ba
funds ($667,209), amortization of bond discount and expense
($42,237)........................................................................................... 1,309,446
D e d u c tio n s —
Balance___________________________________________
—V. 89, p. 1144.
$1,502,957
International Harvester Company.
Y e a r e n d i n g D e c . 31 1909.)
President Cyrus II. McCormick,Chicago, April
9 1910,
wrote in substance:
P r o f i t a m i I .o s s S u r p l u s —S t o c k D i v i d e n d . —The undivided prollts for
season 1909, after payment of dividends aggregating 7% ($4,200,000) on
the preferred stock, amounted to $10,692,740, and the total surplus Dec. 31
1909, before distribution of $20,000,000 stock dividend on common stock
(see below) aggregated $27,384,730. This surplus was composed solely
of the balance of net earnings of the business after deducting dividend
payments, the directors having charged oil the surplus of $7,076,229
existing at organization Oct. 1 1902 by reason of the excess of the appraised
value of the physical properties (Including inventories) then acquired
($67,076,229) over the par value of the stock Issued therefor ($60,000,000).
The remaining $60,000,000 stock was Issued at par for cash.
On Jan. 29 1910 $20,000,000 additional common stock was issued as a
stock dividend (V. 90, p. 376). Thereby the above surplus was reduced
to $7,384,730.
.
R e p a i r s , R e n e w a ls a n d M a in t e n a n c e C h a r g e d to O p e r a tin g E x p e n s e s .
1909.
1908.
1907.
Harvester works and twine m ills.___$1,666,598 $1,445,446 $1,599,116
577,807
394,399
374,562
Furnaces, steel mills, Ac___________
P r o p e r t y A c c o u n t . —The capital expendtures for new property and addi
tional equipment during the year 1909 aggregated $3,115,531, less miscel
laneous property sales and adjustments, $398,947; net, $2,710,584.
The experimental, patent and development expenditures charged to cost
of operation amounted to $174,515 for 1909, compared to $743,557 for 1908.
S a l e s . —The volume of total sales was larger than any former year In the
history of the Industry. The domestic trade increased 20% and the foreign
trade Increased 13% over last tlscal year. The sales of harvesting machin
ery, tillage Implements and twine Increased approximately 10% and were
slightly larger than 1907, which was the previous high mark. The sales
of the new lines of wagons, manure-spreaders, gasoline engines, cream
separators, auto-buggies and tractors aggregated 45% higher than any
nrevious year, and aided considerably in the improvement in earnings.
S e a s o n 1909. S e a s o n 1908. S e a s o n 1907.
Harvesting machinery, etc:
United S ta te s_______ _______ $34,616,559 $30,920,337 $35,417,093
Foreign countries__ __________ 22,894,798
21,419,866 21,582,557
Wagons, tractors, etc:
United States .......
15,480,607
10,903,661 10,985,492
Foreign countries . . . ................ 5,239,578
3,384,927 2.895,987
Steel products, fibre sales, Ac.............. 8,383,008
5,912,980 7,325,761
(R eport f o r
Total sales________
$86,614,550 $72,541,771 $78,206,890
The sales of wagons, manure-spreaders, gasoline engines, cream separa
tors, auto-buggies, tractors and other new lines aggregated over $20,000,000
in the year 1909. These various lines have been developed at heavy
expense and are becoming ilrmly established. The steadily Increasing
demand for the company’s products In foreign countries makes that trade
a stable and permanent factor in the total earnings. Approximately 40%
of the 1900 sales of harvesting machinery, tillage implements and twine
were In foreign countries, and the total foreign business has Increased
almost 100% since the first year of the organization in 1902.
1 1 0 0
THE CHRONICLE
W o r k i n g C a p i t a l .— At organization Oct. 1 1902 the working capital was
575,805,000, compared to $90,823,000 at Dec. 31 1909, an Increase of
$15,018,000 at the latter date. During the same period the cash expended
for permanent property, additional plant, buildings and equipment, aggre
gating $22,000,000, has been provided out of earnings.
F o r e i g n B r a n c h e s .—The new works at Croix, France, and Neuss, Ger
many, recently erected to supply the requirements of the French and
German trade, commenced partial operations In March 1910.
The growth of the Russian trade In the past and the assurance of Russia’s
great future as an agricultural country has made it desirable to manufacture
there at least a part of the requirements for the Russian harvest. A large
plant comprising 40 acres has been purchased at Lubertzy, near Moscow.
It is well built and is equipped with modern machinery for manufacturing
gas engines. Plans are being made to add facilities for the manufacture of
harvesting machines and tillage implements.
S t o c k S o l d to F .m p l o u e c s .— In July 1909 the company offered its preferred
and common stock for sale to its employees on monthly installment pay
ments, and 4,400 employees subscribed for 17,684 shares of preferred and
16,410 shares of common (V. 89, p. 229). The bonus distribution to
especially meritorious employees was again made and 1,426 participated.
[VOL. LXXXX
The company in 1905 also purchased $1,221,100 additional stock of the
Retsof Mining Co., out of a total of $1,232,100 then outstanding, paying
therefor $2,299,200 par value of its own stock and $161,220 in cash. Through
the purchase of stock of the Retsof Mining Co., there was also acquired a
three-fourths interest, or $300,000 of stock of Avery Rock Salt Mining Co.,
whose mine Is located at Avery Island, La. This stock has remained In
the treasury of the Retsof Mining Co.
B a n k r u p t c y o f N a t i o n a l S a l t C o . —Immediately following our purchase of
the National Salt Co., It developed that certain unwise trade agreements
were in force between It and various independent salt producers, which
stimulated a large overproduction of evaporated salt and caused a serious
decline in prices, and eventually the bankruptcy of the National Salt Co.
in 1902. The stock of the National Salt Co., held as part collateral under
your mortgage, has shrunk from a par value of $7,322,110 to about $125,
000 cash, now In receiver’s hands. Pending litigation relating to the
United Salt Co. of Ohio still prevents the termination of tills receivership.
I hese moneys constitute the only property or claim which your company
owns to olfset its liability of $2,970,900 of Its outstanding bonds, and Its
further liability of $4,648,290 stock, paid to purchase the National Salt Co.
It was also necessary for your company to purchase the producing plants
of the National Salt Co. in New York State, known as Watkins, Ithaca and
C O M B IN E D IN C O M E A C C O U N T .
Cayuga, at the receiver’s sale May 25 1904; for tills purpose, the Interna
0 , .
1909.
1908.
1907.
tional Salt Co. of N. Y. was Incorporated, with $750,000 capital stock, all
Sales for year.*................... .................. $86,614,550 $72,541,771 $78 , 206,890 of which was issued In payment for said properties. Wc also had to
Cost of mfg. and. distributing.!------- 67,669,234 59,615,222 66,874,279 purchase, for $450,000 cash, stocks of certain Western salt companies
formerly owned by the National Salt Co., and pledged by It as security for
$18,945,316 $12,026,549
loans, namely, the Anchor Salt Co. and IIutchlnson-Kansas Salt Co., both
M'sc. earnings and charges (net)___ .
869,766
524,598
’425M56 producing companies, together with live-sixths of the J. F. Ewing Salt Co.,
a selling company, and thirty-six shares of Walton Salt Ass’n, Ltd.
$19,815,082 $13,451,147
B o n d s S o l d f o r C a s h —In order to provide additional working capital
D e d u c t—
and funds for purchase and reconstruction of plants, SI.224.000 bonds were
Administrative and general expenses.
$589,753
$520,769
$529,749 sold for cash to Individuals at prices which netted your company $800,337.
Fire Insurance fund_______________.
250,000
250,000
L a r g e O u t l a y s f o r R e n e w a l s . —The property of the Retsof Mining Co. was
Renewals and minor Improvements..
567,152
447,819
307,821 L'l Sood condition when purchased and has since been well maintained;
Reserve for pension fund__________
250,000
250,000
$J,0,)2 has been spent for new construction.
Reserve for plant depreciation and ore
..J h c plants of the International Salt Co. of New York were In bad con
1,827,381
1,000,000 dition and required large outlays for rcplacemcntof old buildings with mod
1,471,204
Reserve for contlgnent losses and col
ern brick, steel and concrete structures, the Installation of the new quad
lection expenses on receivables___
880,000
750,000
700,000 ruple-effect vacuum process at the Cayuga and Watkins plants, with new
Interest on purchase money obliga
engines, pumps, &c.; also the rebuilding of the newly-complcted Cayuga
tions and current loans_________ .
55.8,056
875,673
1,140,039 Plant, destroyed by Are April 19 1908.
Dividends on preferred stock (7%)_. C4,200,000
4,200,000
4,200,000
The plant of the Anchor Salt Co., at Ludington, Mich., was also rebuilt
Dividend on common stock (4%)___ . d3.200,000
Sjid enlarged during 1908, and a triple-effect vacuum system Installed,
the plant of the IIutchlnson-Kansas Salt Co. received extensive repairs
$12,322,342 $8,765,465 $7,877,609 ♦i, enlargements, Including a triple-effect vacuum system. The plant of
$7,492,740 $4,685,682 $3,880,458 ;„c. 1 °.rt Huron Salt Co. at Port Huron, Mich., has also received repairs
______
oUH. arffclJ]fnts- I tlc warehouse and wharf facilities of the International
* Sales are of harvesting machinery, tillage Implements, engines, cream Salt
Co. of Illinois were enlarged.
separators, wagons, manure spreaders, auto-bugglcs, twine, steel products c r.%,„ lJ a i!)ern?tntS \ . a r l <L E e t t e r m e n t s C o s t $3,246,727.—In addition to sums
&c
r&j spent directly by the various subsidiary companies for plant maintenance
f Cost of manufacturing and distributing Includes the cost of manufac and renewals, your pompany found It advisable to expend $3 246 727 for
turing the products (exclusive of depreciation on plant property and ore 1Ve nneF 1ilrK,e^ nt ¥ }d, betterment, largely during the business depression
extinguishment), the freight and duty charges paid, and all selling expenses of
1907 to 1909, which made the raising of new capital quite Impossible.
Incurred by the America Company In marketing the products
Your company applied llrst its cash resources and later Its credit to the
c Also a stock dividend of 33 1-3% paid on the common stock from financing of these improvements, until both were exhausted.
accumulated surplus (see below)
R e l a t i v e E a r n i n g s o f E a s t e r n a n d W e s t e r n P r o p e r t i e s . —All three of our
d Declared since the close of the year (see below).
Eastern companies (Retsof. International of N. Y. and Avery) were pro
ducing companies. The Western group consisted largely of transporting,
C O M B I N E D B A L A N C E S H E E T D E C E M B E R 31.
warehousing and selling companies, whose net earnings represented a profit
1909.
1908.
1907.
taken for the most part on inter-company business, the producing com
A s s e ts ^ —
$
$
^
panies of this group having furnished only 17% of Its net earnings since the
Plant, property, &c......................
66,532,609 63,680,776 02,844,136 iormatlon
of your company.
Advance payments for mineroyalties
153,419
189,683
285,288
Insurance fund assets_____________
1,070,862
400,832
E a r n i n g s a n d D i v i d e n d s o f t h e T w o G r o u p s , 1901 to M a r c h 1 1910.
Materials and supplies------------------- 53,399,927 47,687,056 50,287,626
------ P r o d u c i n g P l a n t s ----- - T o t a l W e s t e r n ,
Notes and accounts receivable_____ 46,212,036 36,311,230 39,291,510
E a s te r n .
W e s te r n .
( in c l. m ls c e l.)
5,426,690
9,339,055 3,573,894 .. .
Cash..............
Net earnings------------------------- £$4,274,070
$408,434
$2,275,926
Out of total net $3,303,269 y ..Earned 78%
Earned 2 2 %
Total............................................................................ 172,795,543 157,608,632150,282,454
Dividends declared------------------- $3,018,074
612,500
L ia b ilitie s —
Percent of t o ta l..........................
83%
17 %
Common stock____________________ 60,000,000 60,000,000 60,000,000
Preferred stock___________________ 60,000,000 60,000,000 60,000,000
x With no allowance for plant depreciation and maintenance.
Purchase money obligations_______
2,250,000
3,450,195
y After deducting construction.
Bills payable_____________ 5,824,750
8,286", 665 10,465,775
Audited vouchers, accrued interest,
C o s t o f C a r r y i n g U n r e m u n e r a t i v e P r o p e r t i e s . —The company has had a
,090,531
taxes, &c__________________ 5
4,543,443 bonded debt of $6,419,900, of which amount $1,530,000 was charged di
4,729,387
Preferred dividend (payable March). 1 .050,000
1,050,000 rectly against the Western group. In addition thereto one-half of the
1,050,000
Depreciation & extinguishing reserve 6 ,510,675
3,841,502 bonds given for the National Salt Co., or $1,485,450, should be charged
5,009,844
Special maintenance reserve____ 1
,038,741
against It, as fully one-half of the National Salt Co. plants were In Western
469,653
Collection expenses on receivables__
800,000
600,000 territory. To these Items should be added cost purchase money, $1,260,
700,000
Insurance fu n d .____ _____________ 1 ,093,462
671,093
325,232 863, bearing Interest at 6%. The annual charges paid by the company on
502,654
Pension fund_______ .:____________
account of the Western group (on account of $3,015,450 bonds at 5% and
Contingent reserve
$1,260,863 cash at 6%) was $226,420, as against average annual dividends
,250,000
Surplus__________________________ *27 ,384,730 16,691,990 12,006,307 declared by Western’group out of earnings of $76,562. This loss $149,858,
had been sustained for eight years, so that the total loss to your company
Total............. ................................ ...172,795,543 157,608,632 156,282,454 to March 1 1910 on account of the Western group was $1,198,864.
Competition Is severe In the West and there Is great over-production and
* From the total surplus as above on Dec. 31 1909, $27,384,730, there serious decrease In consumption. In Michigan alone the commercial ca
was deducted a 33 1-3% stock dividend paid to the common stockholders pacity of all salt-producing plants Is about 10,000,000 barrels per annum,
of record Feb. 3 1910, leaving $7,384,730. Since the close of the year whereas but 6,293,000 barrels were manufactured In 1909, and even so the
there has also been declared a 4% cash dividend on the common stock, as manufacturers’ supply In bins and on wharves increased over 860,000 bar
Increased to $80,000,000, calling for $3,200,000 payable from the earnings rels. Owing to these and other causes, all of your Western plants were
of the year 1909 in quarterly Installments beginning April 15 1910. This shut down, while prices have dropped about 33% since Jan. 1 1910.
The statement of the operations of your company since Its Incorporation
cash dividend, although not shown In the pamphlet report, has been
deducted from the earnings above. See also remarks on a subsequent page shows that, although it has at all times been able substantially to meet
Its fixed charges and pay Its current liabilities, yet the various causes enum
erated above resulted In the gradual accumulation of a floating debt In the
In tern a tio n a l S a lt C o., N e w Y ork.
form of $1,595,000 3-year collateral trust notes, due July 1 1912.
( R e p o r t f o r F i s c a l Y e a r e n d e d F e b . 28 1910.)
Our Axed charges for each of the three years ending yJuly 1 1912, If the
sale of the Western properties had not been made, would have aggregated
President Mortimer B . Fuller, Scranton, P a., April 18 1910, $1,055,695 [Interest on $6,419,900 5% coll, trust bonds and $1,595,000
6% coll, trust notes, $416,695;slnklng fund, $107,000; principal of collateral
wrote in substance:
trust notes (one-third of issue), $532,000], On the other hand, It Is esti
Sale o j U n p r o j i t a b l e P r o p e r t i e s . —Since the date of the last' report, this mated that the company would have received annual dividends from Its
sale of importance to your company has been carried to a successful subsidiary companies equal to the average for the last eight years, or $453,
conclusion. Throughout this negotiation your officers acted with the 822, leaving a net annual deficit on fixed charges alone of $601,873.
written consent of a majority of both stockholders and bondholders, and
S a l e o f W e s t e r n P r o p e r t i e s . —To meet these conditions, your officers con
with the recommendations of experts employed by the trustee of the “first cluded a negotiation tor the sale of the Western subsidiary companies on
and consolidated mortgage,” which gave Its consent In the matter only Feb. 16 1910, by the terms of which your company is not only freed from
after a painstaking investigation, and upon the conviction that the rights a large portion of Its fixed charges, and from paying $1,331,000 of Its float
of both stockholders and bondholders would be fully conserved thereby. ing debt, but Is also relieved from the burden of carrying the Western
To the end that you may understand what has rendered this transaction properties, whose operations Involved your company In an annual loss of
Imperative and Important, the following statement Is submitted.
$149,858, and secures an advantageous selling arrangement covering
O r g a n i z a t i o n . —The company was organized under the laws of New Jer
mineral salt.
sey Aug. 22 1901, with an authorized capital stock of $30,000,000, as a
Stocks
o f T o t a l P a r V a l u e o f $1,725,000, H e r e t o f o r e D e p o s i t e d U n d e r t h e F i r s t
holding corporation for the stocks of various companies whose operations
a n d C o n s o l i d a t e d M t g e . , S o l d U n d e r A g r e e m e n t o f F e b , 16 1910.
cover the production, transportation and sale of both mineral and evapor
ated salt for the United States market.
Internat. Salt'Co. of III__ $1,000,0001 Anchor Salt Co__
$50,000
On Oct. 1 1901 the company entered Into an agreement which provided IIutchinson-Kan. Salt Co.
200,000 Michigan, Indiana & Illinois
for the Issuance of “llrst and consolidated mortgage” collateral trust 5% Port Huron Salt Co-------350,000| Line .
50 000
bonds to the amount of $12,000,000. The company Immediately pur Port Huron & South. RR. rg50,000| J. F. Ewing Salt Cm (5-o"th~s)I 25,000
chased (a) $2,367,900 capital stock of the Retsof Mining Co. (of N. Y .), then
These were taken subject to all their outstanding debts and mortgages.
as now engaged in the mining of rock salt at Retsof, Livingston Co., N. Y.,
In payment, the purchaser delivered to your company, and the company
out of a total of $3,600,000, or 65.8%, paying therefor $2,367,900 par value delivered to the trustee for cancellation, $2,420,000 par value of your ".first
of Its own stock; (£>) $2,970,900 pref. stock and $4,351,200 common and consolidated mtge.” coll, trust 50-year 5% gold bonds, and such bond
stock, or in all $7,322,100 stock, of the National Salt Co. (of N. J.), then have been canceled, leaving $3,999,900 outstanding.
engaged in the production of evaporated salt through the ownership of
The purchaser furthermore agrees to pay both principal and Interest on
various plants situated In New York, Kansas and Michigan, out of <a total outstanding 6?o coll, trust notes of your company in amount of $1,000,000,
of $12,000,000, or 62%, paying therefor $4,648,290 par value of Its own and has deposited as collateral with the Empire Trust Co., as trustee, se
stock and $2,970,900 par value of its aforesaid bonds.
curities representing all of the properties purchased, to be held until the
$1,000,000 of notes are retired. (See Morton Salt Co. In V. 90, p. 853.)
S t o c k o f P a r V a l u e o f $9,690,000 D e p o s i t e d O c t . 1 1901 a s C o l l a t e r a l w i t h
Before said sale was consummated, a dividend In amount of $44 1,000 was
U . S . M o rtg a g e & T r u s t C o ., T r u s te e u n d e r S a i d M o rtg a g e .
Retsof Mining Co. (out of total Issue of $3,600,000)................... $2,367,900 declared by the International Salt Co. of Illinois, the result of which has
National Salt Co. (out of total Issue of $12,000,000)
7,322,100 been the cancellation of $331,000 of obligations of your company held by
The company also purchased (a) In 1902 the entire capital stock, $1,000 - the Illinois company, and the receipt of $100,000 cash, which was used for
000, of the International Salt Co. of Illinois, engaged in warehousing, trans the payment of the semi-annual Interest charges due on April 1 1010 on the
porting and selling both mineral and evaporated salt In Chicago and vicinity, $4,000,000 bonds of your company then outstanding.
issuing as part consideration therefor $1,330,000 of its bonds. This trans
A n n u a l F i x e d C h a r g e s F o l l o w i n g A f o r e s a i d S a l e , A g g r e g a t e $412,900.
action carried with It the ownership of the capital stock of the Michigan,
Indiana & Illinois Line of steamboats, plying In the salt-carrying trade on Interest on remaining $3,999,000 5% coll, trust bonds...................$200,000
Lake Michigan, and also the ownership of the capital stock of the L, J. Petit Sinking fund............................... .............................................................. 66,000
Salt Co., a distributing and soiling company of Milwaukee. And (0) In Interest on $365,000 coll, trust notes (outstanding Feb. 16 1910,
1903 the entire capital stock of the Port Huron Salt Co., $350,000, and the
$1,595,000, less returned to treasury, $230,000, and amount to bo
entire capital stock of the Port Huron & Southern RR. Co. (3 mile-branch),
paid by purchaser, $1,000,000).................. .................... ..........21,900
$50,000, Issuing as part consideration therefor $200,000 of Its bonds. The Retsof Mining Co. bond lnt. (5% on $2,500,000)________ _______ 125,000
Port Huron Salt Co. owns a large producing plant situated at Port Huron,
The reduction In fixed charges due to the sale of the Western group,
Mich., and three other plants at Wyandotte, St. Clair and Zllwaukee ,Mlch. including sinking fund, amounts to $642,705 annually.
A pr . 23 1910. i
THE CHRONICLE
1101
After July 1 1012, when the remaining $365,000 collateral trust notes
w ill mature, the annual llxed charges, now $412,000. will be further re
duced by $21,000, leaving annual llxed charges of only $301,000, Includ
ing Iletsof bond Interest of $125,000, or of $266,000 exclusive of Retsof lnt.
O u tlo o k .. — Since Its incorporation, your company has received in dlvi,
dends from Its Eastern subsidiaries the average annual sum of $377,2oJ,
at which rate It can pay Its llxed and current sinking fund charges and also
take care of the $365,000 coll, trust notes In about four years from this
date. During more than four years out of the eight years life of your com
pany, general business conditions have been unusually bad, so th at the
above dividend rate Is less than what you may expect.
,
The net earnings of the Eastern group for the current year ending Feb. 28
1010 show a substantial Increase over the previous year, and your officers
are confident not only th at this satisfactory showing will be maintained
but th at it will be Increased, and they base this opinion on the present
healthy condition of the Eastern market and the growing demand for all
classes of our products.
,
.. _______ ___ _ .
The operating profits of the Eastern group for the year ending hcb. 28
1010 were $485,000. As your annual fixed and sinking fund charges amount
to only $412,900 (including Retsof bond interest) for the next three years,
and $391,000 thereafter, there Is every reason to think that the balance of
the collateral trust notes will be promptly paid at maturity, and that there
after a surplus from which dividends may be declared can be quickly ac
cum ulated.— V. 90, p. 852.
After a careful consideration we have determined to organize a new com
pany, to be known as Charleston Consolidated Railway & Lighting Co.,
with a minimum capitalization of S2,000,000, which will lease for a period
of 99 years the property and franchises of the present company and guaran
tee dividends on Its stock. An Important feature of the plan consists In
the [old] Consolidated Issuing $500,000 6% pref. stock, which It sells to the
new company at par, using the proceeds to provide for the betterments and
extensions to which I have Just referred.
The plan docs not Involve a change of ownership, as all of the Interests,
both local and otherwise, which have been for years Identified with the com
pany, remain as they are at present; but, In addition, we have succeeded
in Introducing Into the situation some of our business friends representing
large financial Interests In this country.
This company was chartered in Georgia April 1 with $1,050 ,
000 stock ($750,000 com m on, $300,000 5 % pref.) for the pur
pose of consolidating Athens Electric R y . Co. and the James
White power plant, where 5,000 electrical horse power is
being developed in the Oconee River, 10 miles from Athens.
First mortgage 5% gold bonds authorized, $1,000,000; sold, $465,000.
D ate April 1 1910. Maturity 1930, but subject to call at any Interest
period In any am ounts at 105. Par, $500. Interest payable A. & O. at
Cleveland Tr. C o., Cleveland, trus. No prior liens will remain out when the
$300,000 Issue has been returned, of which over half have already been sur
rendered. There w ill be no new bonds reserved for refunding, as all of the
$300,000 Issue are held by stockholders and w ill be returned as soon as
possible.— V . 89. p. 162.
Cincinnati Hamilton & Dayton Ry.—Opportunity to Have
Notes Guaranteed Expires June 30.— Holders of the few re
maining 4 % purchase money notes maturing July 1 1913
(issued under agreement dated Jan. 1 1908) which have not
yet been endorsed with the unconditional guaranty of the
Baltimore & Ohio R R . Co. as to principal and interest, are
notified by advertisement on another page that in order to
secure such guaranty they must present their notes to the
Central Trust Co. of New York, 54 Wall S t., before the close
of business June 30 1910 (V . 89, p. 469, 918).— V . 90, p.
G EN ER AL IN V E S T M E N T N E W S ,
1044, 771.
Detroit United Ry. — Arbitrators Named. — Former Michi
R A IL R O A D S , IN C L U D IN G ELECTRIC R O A D S .
gan Supreme Court Judge Claudius B . Grant, former Circuit
A lg o m a C entral & H u d son B a y R y .— E x te n s io n — R e Judge James Q. Murfin of Detroit and Judge R . W . Tayler
c a p i t a l i z a t i o n — G u a r a n te e d B o n d s . — Sec Lake Superior Cor
of the Federal Court, sitting at Cleveland, have been named
poration under “ Industrials” below.— V . 76, p. 750.
as arbitrators to determine the valuation of the company’s
A nn A rbor R R .— E q u i p m e n t T r u s t B o n d s . — A trust agree property in connection with the proposed new street railway
ment was recently filed with the Bankers’ Trust Co. of N . franchise. Hearings are to begin on April 25.— Y . 90,
Y . , as trustee, covering 500 steel gondola cars and 300 steel p. 976, 445.
underframe box cars, which were ordered from the Standard
Everett & Tacoma (Wash.) R y.— Mortgage.— The com
Steel Car Co., deliverable between Oct. 1 1909 and Feb. 1
pany has filed a mortgage to the Chicago Title & Trust Co.,
1910, at prices aggregating $826,880. Of this amount,
as trustee, to secure an authorized issue of $5,000,000 of
$166,880 was paid in cash and the remainder is represented
30-year 5 % gold bonds, to provide for the construction of its
by an issue of $660,000 Ann Arbor R R . equipment gold bonds,
proposed interurban road between the points named.
series A , dated N ov. 1 1909 and due $33,000 semi-annually
The company was Incorporated In Washington on Feb. 2 1909 with $2,
beginning May 1 1910 and ending N ov. 1 1919. Interest 500,000 authorized stock. Incorporators were; G. M. Cochran, E. Col
burn, Edgar Wright and O E. Grossman, all of Snohomish, Wash.
M. & N . Par $1,000 .— V . 90, p. 976, 770.
Fort Wayne & Springfield (Electric) Ry.— New Bonds to Be
A th e n s (G a.) E lectric R y .— M e r g e r . — See Athens Railway
a First Lien. — W . H . Fledderjohann, Pres, and Gen. Man.,
& Electric Co. below.— V . 88, p. 1618.
A th e n s (G a.) R a ilw a y & E lectric C o — N e w C o m p a n y .— Decatur, In d ., has furnished the following description:
An Issue of $2,000,000 5% "first and refunding gold sinking fund” 40-year
Hocking Valley Ry. — Maturing Bonds.— Notice is given
bonds has been authorized by stockholders, $400,000 to be held as against
underlying bonds and $425,000 to be used for the acquisition of properties, that the $1,556,000 1st M. 30-year 7 % bonds of the Ohio &
the remainder for the future needs of the com pany. The total power equip
m ent of the company will be 7,000 li.p. hydro-electric and 3,000 h .p . from W est Virginia R y . Co. due May 1 1910 will at maturity be
steam turbine plant.
paid in full at the Central Trust Co. of New York, 54 Wall St.
W.
T. llryan of Athens Is President: J. Y . Carltliers, 1st V .-P.; C. D.
Flanlgcn, 2d V .-P.; John W hite Morton, Sec.; C. D. Cox, Treas. Office Coupons of May 1 1910 will be paid at the office of J. P. Mor
Athens. (Mr. Bryan was Treasurer of the Athens Electric R y. Co.)
gan & Co.— V . 90, p. 976, 849.
B altim ore & Ohio C hicago T erm inal R R .— B o n d s A u th o r
Indianapolis Traction & Terminal Co.—Control Sold.— See
i z e d . — The directors on April 21 authorized an issue of $50, Terre Haute Indianapolis & Eastern Traction Co. below.—
000,000
50-year bonds, secured by a mortgage on the
entire terminal property, of which it is proposed to issue
about $33,000,000 at present and turn the same into the
treasury of the Baltimore & Ohio R R . Co.
V . 87, p. 1664.
Kansas City Fort Scott & Memphis Ry.—Called Bonds.—
Frank II. Damon, trustee under the mortgage of the Ozark
Equipment Co., will pay at 50 State S t., Boston,on May 2,
Of the am ount, $28,000,000 will be used to reimburse the B. & O. treasury
for expenditures made In the acquisition of the property and $5,000,000 $62,000 second series bonds, due N ov. 1 1910, called for
for Improvements to be made on the terminal property. It Is not expected payment at par (ex-coupon due May 1 1910).
All of the
that any part of the Issue will be offered for sale, the present plans of the
B. & O. being, It Is stated, to retain these bonds In Its treasury.— V . 90, outstanding bonds of the first series, due May 1, will also be
p. 625, 166.
paid at the same time.— V . 89, p. 162.
B altim ore & Ohio R R .— B o n d s o f S u b s i d i a r y to R e im b u r s e
C o m p a n y . — See Baltimore & Ohio Chicago Terminal R R .
above.— V . 90, p. 848, 770.
C harleston (S. C.) C onsolidated R a ilw a y , G as & E lectric
C o.— L e a s e to N e w C o m p a n y w h ic h w i l l P r o v id e N e w C a p i t a l .
— Sec Charleston Consolidated Railway & Lighting Co. be
low.— V . 88, p. 504.
C harleston (S. C.) C onsolidated R a ilw a y & L ig h tin g Co.—
N e w C o m p a n y to L e a s e a n d F in a n c e E x i s t i n g C o m p a n y a n d
A d d i t i o n s . — This company was incorporated at Columbia,
S. C ., on April 19, with $2,000,000 as its minimum capital
stock (of which $500,000 is to be 6 % preferred stock and $1 ,
500,000 common),and a possible ultimate capital of $1 ,500 ,
000 pref. and $3,000,000 common. The incorporators were
Julian Mitchell, P. H . Gadsden and F. H . Horlbeck of
Charleston. The new company will lease for a period of 99
years the property and franchises of the present Charleston
Consolidated Railway, Gas & Electric Co. (see p. 22 of “ El.
R y . Sec.” ), and will guarantee dividends on its stock. The
old company will issue $500,000 of 6 % pref. stock, which it
will sell at par to the new company, using the proceeds to
provide for the extensions and betterments which have been
planned. The local interests hitherto identified with the
company remain as they arc at present, but considerable new
capital from outside sources has been introduced. P. II.
Gadsden will continue, as in the past, to be the executive
head of the properties.
Condensed Statement by P. H. Oadsdcn, President of Charleston Consoli
dated Railway, Gas & Electric Co.
At the time of the organization of the Consolidated Co. in 1899 no pro
vision was made to finance the future growth of the com pany. During the
past 11 years there have been made extensions and improvements in Its
various departments amounting to over $675,000. More than half these
expenditures have been taken care of from year to year out of the earnings
of the company, the remainder being carried on notes.
For the last four years we have realized the necessity of a permanent
financial plan to provide for such betterments and extensions. The amend
ment to our railway franchise granted In January, requiring the construction
of about? 6 miles of track, the purchase of a number of new cars and the
growth of the lighting departm ent, making necessary additional machinery
In the power house anil a practical rebuilding of our gas works, Involve a
total outlay, Including the amounts due on previous years, aggregating
about $500,000.
Kansas City Viaduct & Terminal Ry.—Coupons Funded.—
The company has, we are informed, arranged to fund the
coupons of July 1909 to July 1911, both inclusive, on the
$3,312,000 4 }/<2% bonds, paying to bondholders every six
months the net income from operations towards the liquida
tion of the same.— V . 85, p. 864.
Lehigh Valley RR.— Increase of Common Stock from $40,
334,800 to $80,000,000— Proposed 5 0 % Allotment— Price to
be Par. — The shareholders will vote June 22 on a resolu
tion, approved on April 20 by the board of directors, that the
common stock of the company be increased from $40,334,800
to $80,000,000. An official statement says: “ If the stock
holders act favorably upon this proposition, the directors
propose thereafter to issue immediately $20,167,400 capital
stock, giving the holders of the capital stock the right to sub
scribe pro rata at par for 5 0 % of their holdings at such date
and upon such further terms and conditions as may there
after be decided upon. The balance of the authorized in
crease in the capital stock will not at the present time be
issued, but will be reserved for future needs.
“ The money received from the $20,167,400 of stock to be
offered to the stockholders will be used for the retirement of
$6,000,000 2d M. 7 % bonds maturing Sept. 1 1910, the re
tirement of other obligations of the company, and for the
payment of such debts as may in the future be incurred for
construction to enable the company to render adequate and
proper transportation service to the territory served by its
lines of railroad.” — V . 90, p. 914, 698.
Louisville (Ky) Ry.— New Bonds.— The syndicate which
has purchased $1,000,000 of the already issued $1,500,000
new general mortgage 5 % 50-year gold bonds dated Feb. 1
1910 (int. F . & A .) includes the following Louisville institu
tions: American National Bank, National Bank of Ken
tucky, Columbia Trust Co., National Bank of Commerce,
Citizens’ National Bank, Union National Bank, First Na
tional Bank, United States Trust Co., German Bank, and
Fidelity Trust Co., the last-named being the mortgage trus
tee. Compare V . 90, p. 977.
1102
THE CHRONICLE
[V O L . L X X X X .
A circular describing a proposed immediate issue of $ 2 ,
000,000 general mtge. 5 % bonds, of which $1,000,000 have
been sold to the aforesaid local syndicate at par and in
terest, reports:
Income from §4,125,400 common stock of Seattle Electric Co.,
present dividend rate 7 % __________________
§288,778
Income from §1,637,400 common stock of Seattle-Tacoma Power
Co., present dividend rate 5 % ...............
81,870
S t a t e m e n t J o t C a l e n d a r Y e a r 1909 (I n c l u d i n g L o u i s v i l l e & I n t e r u r b a n L i n e s )
w i t h i n t e r e s t C h a r g e a s I n c r e a s e d b y P r o p o s e d I s s u e o j §2,000,000 G e n . M . 5s
Total Income-------------------------------------------------------------------------§370,648
Annual Interest charge on §2,000,000 first mortgage 5% b o n d s.. 100,000
Gross earnings------- --------§2,969,132 Int. on underlying bonds
§390,000
Oper. exp. and ta x es____ 1,851,403 Interest on new gen. 5 s_____ 100,000
P r e s e n t A n n u a l I n c o m e ( D e r iv e d J r o m D iv id e n d s o n S to c k s O w n e d ).
Balance_________________________
.$270,648
The earnings of th e company will be very largely Increased upon the
completion of the W hite River development.
W h i t e R i v e r D e v e l o p m e n t . — W ater Is to be diverted from W hite River Into
a storage basin with a capacity of approxim ately 2,436,570,000 c u .ft..
Including Lake Tapps, and delivered at the turbine water wheels In the
generating station of steel and concrete on the Stuck River through steel
penstocks under a head of 415 feet. The Initial developm ent will be
approxim ately 27,000 h. p., and the dam, canal, reservoir and forebay
will be constructed at this tim e of sufficient size and strength to provide
for the ultim ate capacity of the plant, which will exceed 80,000 h. p. The
present demand for electricity in Seattle, Tacoma and the surrounding
territory Is such that the power from the first 27,000 h. p. should be Immedi
ately absorbed a t very satisfactory prices, and additional power will bo
required In the near future (see also V. 90, p. 977).
Condensed Statement by President T. J. Minary, Louisville, Feb. 1 1910 C o n d i t i o n s o n W h i c h th e §10,000,000 F i r s t M o r t g a g e R o n d s M a y B e I s s u e d
To be Issued forthwith [now offered.— E d .l____________________ §2,000,000
I s su e d C a p ita liz a tio n o ) L o u is v ille U a ilw a v C o .
Stock, pref., §2,500,000; common. §5,456,500; to ta l-----------------§7,956,500 To be Issued for 75% of the actual reasonable and cash cost of
hydro-electric developm ent or the acquisition and construc
Bond Issue of 1890, 5% , §6,000,000; Issue of 1900, 4JS%; total
tion of physical plants and properties exclusive of the lands
underlying bonds__________________________________________ 8,000,000
and water rights acquired at organization______ __________ 3,000,000
Gen. m tge. 5s of 1910, auth. $12,000,000; reserved to retire
Issuable
for not exceeding 80% of further cash expenditures for
above bonds, $8,000,000; issued-------------------------------------------- 2,000,000
the above-m entioned purposes provided the net earnings for
The escrow bonds ($2,000,000) m ay be Issued only for extensions and
the preceding year shall have been In each case at least twice
betterments, as provided In m tge.
the annual Interest charge. Including bonds applied for______ 6,000,000
E a r n i n g s o j Y e a 9 C o m p a r e d 190r w i t h A l t e r n a t e Y e a r s J r o m 1900 to 1908.
The mortgage will be a first lien (1) upon all property, rights and fran
chises
now owned, except certain property not needed for the company’s
1909.
1908.
1906.
1904.
1902.
1900. ’
business; (2) upon all physical property hereafter constructed or acquired:
$
$
$
$
$
$
Gross earnings.2 ,702,922 2,555,362 2,523,343 2,048,263 1,771,887 1,520,513 and (3) by pledge as collateral on §4,125,400 common stock of Seattle Electric
N et after taxes 918,449 914,686 960,030 771,099 744,172
629,344 Co. and §1,637,400 common stock of Seattle-Tacoma Power Co. now owned,
which will be deposited with the trustee. At the present market price of
Other Income*. 169,277
85,467
69,652
______
______
______
the outstanding stock of Pacific Coast Power Co. there Is an equity In the
Net earnings 1.087,726 1,000,159 1,029,682 771,099 744,172 629,344 property of approxim ately §6,700,000, which will be still further Increased
Ierntest p a id .. 385,385 380,210 350,271 351,710 333,879
314,090 as additional bonds and preferred and common stocks are sold to provide
for the proposed development.
The company will sell Its power In the cities of Seattle, Tacoma and
N et surplus. 702,341 619,949 679,411 419,389 410,293 315,254
E verett and In the valleys and towns on Puget Sound through The Seattle
* "Other Income” Includes the net earnings of the Louisville & Interurban Electric Co., Seattle-Tacoma Power Co., Puget Sound Electric R y.,
lines, and the trackage and other charges paid by the two Indiana com Tacoma Railway & Power Co. and Seattle-Everett Traction Co., the present
facilities of all of these companies being Inadequate to take care of the
panies using our tracks.
rapidly Increasing demand for power. The present estim ated population
The franchises of the company for over 90% of Its mileage within the of
exceeds 300,000 while that of Tacoma approxim ates 115,000.—
city were derived from the purchase of the Central Passenger R y., the V. Seattle
90, p. 977.
Louisville City R y . and the K entucky Street R y. The franchises of the
last, as granted by the Legislature, are perpetual; those of the other two
Philadelphia & Chester Street R y.— S a le A g a i n P o s t
were extended by legislative A cts In 1886 for 99 years from that date. The
franchises for the remaining mileage has been purchased from the city from p o n e d . — It is announced that the foreclosure sale has again
tim e to tim e, m ostly as extensions, and m n from 10 to 17 years.The lines been postponed until May 2 .— V . 89, p. 1598.
outside of the city have perpetual franchises. Our plant and equipment
Is modern and efficient, all the track except about 30 miles having been rePhiladelphia Co. of Pittsburgh .— -N o te s C a lle d . — The
lald with 90 to 107-lb. rails, largely out of earnings.— V. 90, p. 977.
N et earnings__________ §1,087,727 Balance, su rp lu s.....................§597,727
The company owns all the street railway lines In the city of Louisville,
with 165 miles of single track In the city and suburbs, and owns all the stock
of the Louisville & Interurban R R . Co., with 52 miles of single track. It
also furnishes an entrance Into the city for the Louisville & Eastern R R ,, the
Louisville & Southern Indiana Traction Co. and the Louisville & Northern
R y. & Lighting Co. under remunerative contracts. The general mortgage
Is In effect a first lien on the Louisville & Interurban R R ., which has cost
the company over §1,500,000, and Is Intended to cover the property of the
Louisville & Eastern R R ., now In the hands of a receiver, but all the bonds
and debts against which are owned by the Louisville & Interurban Co.
and which, when completed by the receiver, will represent an expenditure
of about §2,000,000, putting under the mortgage property costing §3,500,
000, In addition to the Hen on the property of the Louisville R y. Co.
M issouri P acific R y . — New Offices.— The company has
moved its offices from 195 Broadway to the 8th floor of the
C ity Investment Bldg., No. 165 Broadway.— V . 90, p. 771.
N e w Y ork P h ilad elp h ia & N orfolk R R .— Increase of Stock
Authorized.— The State Corporation Commission on April 21
approved an amendment to the charter granting the com
pany power to increase its capital from $2,500,000 to $ 3 ,
750,000. The new stock, it is reported, will be given as a
dividend in lieu of deferred payments, which have been put
into expenditures in recent years to the extent of more than
$1,250,000.— V . 90, p. 977.
N o rth w estern C orporation.— Sale Authorized. — The stock
holders have voted to sell the property and other assets to
H . M. Byllesby & Co. of Chicago on the terms offered by
the latter. Compare V . 89, p. 924.
O cean Shore R y ., C alifornia.— Suits Against Stockholders
Proposed.— Receiver F. S. Stratton was last week served
with a notice by J. Howard Smith, who is heavily interested
in the company, that an application will be made to the
U . S. Circuit Court to direct Stratton, the receiver, to bring
suit against the stockholders to recover $2,300,000 to liqui
date the debts and place the company on a substantial basis.
Mr. Smith contends that If this amount Is raised from the stockholders
the company will be able to carry out Its projected work and possibly within
a reasonable tim e be on a paying basis.— V. 90, p. 110.
P acific C oast P ow er Co .— Bonds Offered.— N . W . Harris &
Co., New York and Boston, and the Harris Trust & Savings
Bank, Chicago, are offering at 97 and interest, by advertise
ment on another page, the unsold portion of the present issue
of $2,000,000 first mortgage 5 % gold bonds, dated March 1
1910 and due March 1 1940, but redeemable at 105 and intdi*est March 1 1915 or any interest date thereafter. Interest
M. & S. at Harris Trust & Savings Bank (trustee), Chicago,
or at office of N . W . Harris & Co., New York or Boston.
Par, $1,000 (c*&r)The company is under the management of Stone & W eb
ster and it “ owns lands and water rights on White and Stuck
rivers within 20 miles of Seattle and 15 miles of Tacoma,
which, in the opinion of engineers, are capable of the develop
ment of 80,000 h. p. at an exceptionally low cost. When
completed this plant will be one of the most valuable hydro
electric properties in the United States.” The company also
owns more than 6 6 % of the common stock of The Seattle
Electric Co. and more than 7 2 % of the common stock of the
Seattle-Tacoma Power Co., which corporations have been in
successful operation for many years.
Abstract of Letter from Stone & Webster Alanagemcnt Association,
Boston, April 15 1910.
The Pacific Coast Power Co. was Incorporated In 1908 under the laws of
W ashington for the primary purpose of developing the water power on the
W hite River within 20 miles of Seattle and 15 miles of Tacoma. The com
pany now owns certain lands and water rights which are essential to the
developm ent of this water power, and which were formerly owned or con
trolled by the Seattle Electric Co. and Seattle-Tacoma Power Co. The
company owns more than 66% of the common stock of The Seattle Electric
Co. (paying 7% per annum) (V. 88, p. 1062; V. 89, p. 412), and more than
72% of the common stock of the Seattle-Tacoma Power Co. (paying 5%,
per annum), compare V .81,p.78l; also see p.108 of “ Elec. R y. Sec.”— Ed.]
C a p i t a l i z a t i o n O u t s t a n d i n g a s o f A p r i l 15 1910 (C o m p a r e V . 90, p. 977).
Pref. stock 6% cum ., auth. (V. 90, p .9 7 7 ) §1,500,000; Issued.,
None.
Common stock, authorized (V. 90, p. 977) §9,000,000; Issu e d ..§6,747,300
First mtge. gold 5s, auth. §10,000,000; now Issued (and offered ).. 2,000.000
entire amount ($2,225,000) of outstanding 6 % gold notes
dated July 1 1908, which mature after June 1 1910, have
been called for payment on June 1 at par and interest at the
Union Trust Co. of Pittsburgh, P a., and will be paid, to
gether with the $125,000 falling due on that date out of
proceeds of last stock issue. Compare V . 90, p. 168, 303.
Philadelphia Rapid Transit Co.— T o V o te o n N e w L o a n . —
The stockholders will vote on June 20 on authorizing an in
crease of indebtedness from $5,000,000 to $10,000,000.
An official says that It Is not the Intention of the management to Increase
the amount of the §2,500,000 loan which the City Council has been asked
to authorize, but merely to obtain a blanket permission from the stock
holder; and thus provide for contingencies, should they arise.
Since the stockholders would have to hold a special meeting to act upon
the request to borrow §2,500,000, the management decided that It would
be advisable to obtain the consent of the m eeting to borrow more and thus
prevent the necessity of calling another special m eeting when a further loan
is desired. The stockholders’ permission having been obtained, the only
formality to be followed when another loan Is desired would be to get the
authority of the City Council.
S t r i k e O v e r . — The strike to obtain an increase in wages to
25 cents an hour and exclusive recognition for the Amalga
mated Car Men’s Association was formally declared off by
the labor leaders on April 18, although the referendum vote
by the men showed a majority of seven against accepting
the company’s terms.
The strike began on Feb. 19, but the company, It Is stated, never failed
to keep running 500 or more of Its cars. The loss, however, to the com pany
Is estimated at $1,000,000 or more and to the strikers and the city $8,000,
000 or §10,000,000. Several persons were killed, many injured and at one
time a sympathetic strike involved some 30,000 workers In the various
industries of the city.
C o m p a n y ' s T e r m s a s S u m m a r i z e d b y th e “ P h i l a d e l p h i a L e d g e r .”
All men to be taken back. Those who do not get runs Immediately will
be paid $2 a day until they are given cars. Time out on account of the
strike Is not to be counted against the strikers, and they will be beneficiaries
under the free Insurance and pension plan. The eases of the 173 men dis
charged Feb. 18 will be reviewed by C. O. Kruger and an officer of the union.
Union buttons must not be worn conspicuously, but the men may belong
to any labor organization. Discrimination against or Intimidation of em
ployees for non-affiliation with a labor organization will n o tb e tolerated.
The wages will be 23 cents an hour after July 1 1910 and will be Increased
a half cent yearly until a wage of 25 cents an hour Is reached. No pro
vision for strikers who were employe 1 in the repair shops has been made,
but the men were given assurances that the company would deal fairly by
those who returned.— V. 90, p. 977, 560.
Pittsburgh & Shawmut RR.— B o n d s O f fe r e d , S e c u r e d o n
N e w L in e a n d b g P le d g e o f S to c k C o n tr o l o f C o a l P r o p e r t ie s a n d
o f a L a r g e M a j o r i t y o f th e B o n d s o f th e P itts b u r g h S h a w m u t &
N o r th e r n R R .— Ilallgarten & Co., New York, are placing
privately at
and int., yielding over 5 .3 0 % , the unsold
portion (less than $1,000,000) of the present issue of $3,000,
000 1st M. 5 % redeemable sinking fund gold bonds, dated
Dec. 1 1909 and due Dec. 1 1959, but redeemable as a whole
at option of company at 105 and interest on any interest
date upon 60 days’ notice. c*<fcr*. .Interest payable J .& D .
Trustee, Central Trust Co. Sinking fund $100,000 per an
num, commencing Dec. 1 1914. Tax free in Pennsylvania.
Condensed Extracts from Letter by Edwin E T ait, Pres. Pitts. & Sh.R R .
The Pittsburgh & Shawm ut R R . extends from the southern terminus
of the Pittsburgh Shawmut & Northern R R . at Brockwayvlllc, Pa., to
Knoxdalc, Pa., a distance of 37 miles. This line was built during 1908 and
Is now being extended from Knoxdale to hreenort, 1 a., a distance of 65
miles. The entire road traverses very rich and valuable coal fields. Free
port Is within 28 miles of Pittsburgh at the head of slaclnvatcr navigation
under a plan of the U. S. Government, as a result of which the Pittsburgh
& Shawmut R R . will be able to connect with a water line to Pittsburgh and
A pr . 23 1910. J
1103
THE CHRONICLE
all River and Gull ports south. A northern connection Is made over the
. Pittsburgh Shavvmut & Northern with the Eric, the Delaware Lackawanna
& Western, the Buffalo & Susquehanna and the Pennsylvania railroads.
In c proceeds of present Issue ot $3,000,000 Is to be used toward extension
or the Pittsburgh & Shawmut R R .from Knoxdale, P a., to Freeport,Pa.
th e remainder of the bonds Is reserved to be Issued under carefully guarded
restrictions as per m tge. [The total Issue cannot exceed $12,000,000— Ed.]
S e c u r i t y J o r T h e s e $3,000,000 F i r s t M o r t g a g e B o n d s , I n d i c a t i n g V a l u e o )
,
A b o u t $13,000,000.
(a) A first Hen on 37 miles of completed main line (U rock way vllle to
Knoxdale) costing over $2,000,000, free of any prior Incumbrances, and
now earning a t the rate of about $120,000 net per annum.
(b) A first lien on main line, as constructed, from Knoxdale towards
Freeport.
(c) Pledge of $11,953,000 Pittsburgh Shawmut & Northern RR.
refunding 4s out of a total of $14,491,000 outstanding bonds, and
$58,000 Pittsburgh Shawmut & Northern R R . first 5s out of a total of
$104,000 outstanding bonds. The property covered by these securities
subject to about $1,000,000 underlying securities and an authorized Issue
of $1,000,000 receiver's certificates, comprises the Pittsburgh Shawm ut
& Northern R R ., I. c., about 200 miles ot railroad extending from W ayland
N . Y ., to Brockwayvllle, Pa., and branches, and about $2,000,000 of equip
ment; also the Shawmut Mining Co. and the Kersey Mining Co. These
mining companies own about 2(5,000 acres of coal lands with the develop
m ents thereon. The entire capital stock of the mining companies Is pledged
under the refunding 4% mtge. The aforesaid pledged securities have, at
present, a market value of upwards of $4,000,000, while In excess of $20,
000,000 has been expended on the property.
(d) Pledgeof 30,072 shares [beingtotal Issue, $3,607,200. V. 90. p. 530-Ed.]
of fully paid capital stock of the Allegheny River Mining Co., owning free
and clear over 22,000 acres of new coal land contiguous to the new lines,
and estimated to be worth In Its undeveloped state about $4,000,000. The
location of the properties owned by this mining company Is such that It
controls In all over 90,000 acres of bituminous coal of superior quality
having a tonnage aggregating over 550,000,000 tons, all of which Is tribu
tary to the Pittsburgh & Shawmut R R . Part of the coal Is to be manu
factured Into coke and the balance largely used for railroad fuel sunnlv
and has a large market In New York State, New England, Canada and In
New York harbor for coaling steam ships. It may be reasonably stated
that these coal land holdings are among the most Important In the U S
Traffic originating from Allegheny River Mining Co. as well as anyad'dltlonal coal lands acquired Is to be secured to the new road by two contracts:
(1) With the Allegheny River Mining Co., whereby that company agrees
to mine and deliver to the railroad a minimum of 1,500,000 gross tons of
bituminous coal each year from Jan. 1 1912 to and Including 1960; (2) with
hrank SidHvan Sm ith, as receiver of the Pittsburgh Shawmut & Northern
i mi^0 ”* whereby the 1 Ittsburgh & Shawmut R R . Co. Is to receive (In
addition to Its proportion of the through rate) an arbitrary of 10 cents per
gross ton on all coal originating along the new line and delivered to the old
‘lc „a's1sumPtIon of this contract Is by order of the courts made a
condition of the acquisition of the property of the Pittsburgh Shawmut &
Northern R R . by any successor company.)
E s t i m a t e d E a r n i n g s o j th e M o r t g a g e d P r o p e r t y .
This year’s (1910) net earnings of the mortgaged property, Including
the Pittsburgh Shawmut & Northern R R ., after deducting Interest on re
ceiver's certificates and car trusts of the Pittsburgh Shawmut & Northern
R R ., arc estimated at about $450,000, without any benefit from new con
struction or from the aforesaid two contracts, which alone, as soon as
elfcctlve, should add about $500,000 per annum to the net earnings of the
Pittsburgh & Shawmut R R . (See also V. 88, p. 1194.)— V 90, p. 560, 503.
P ittsb u r g h S h aw m u t & N orthern R R . — B o n d s P le d g e d . —
See Pittsburgh & Shawmut R R . above.— V. 90, p. 1045.
S avannah A u g u sta & N orthern R y .— S a l e C o n f i r m e d . —
Judge Speer in the Federal Court on April 10 confirmed the
sale of the road at receiver’s sale on March 18 to W J
Oliver at $250,000.— V. 90, p. 772, 373.
S o u th w estern S treet R y ., P h ila d elp h ia .— S a l e A d j o u r n e d .
The foreclosure sale has again been postponed to June 2 .—
V . 90, p. 915.
S tep h en ville N orth & Sou th T ex a s R y .— A m e n d m e n t o f
C h a r t e r .— An amendment of the charter was filed in Texas
on April 18 for 3 branch lines, aggregating 93 miles, viz.:
(1) From Hamilton through Hamilton and Coryell Counties to Gatcsvllle, 32 miles, where a connection will be made with the "Cotton Belt
(2) from Stephenville through Erath County to Thurber, 26 miles; and (3)
from Hamilton through Hamilton and Comanche Counties to Comanche.
35 miles. Compare V. 90, p. 1045.
Su sq u eh an n a R a ilw a y , L ig h t & P o w er C o.— A c q u i s i t i o n .
— This company on April 10 took over the control of the
Wilkes-Barre Gas & Electric Light Co. (capital stock, $1 ,
500,000; bonded debt, $2,500,000) and the Wilkes-Barre
Heat, Light & Motor Co. (capital stock outstanding, $177,
000; no bonds).— V . 90, p. 452.
Terre H au te In d ian ap olis & E astern T raction Co.__ P u r
c h a s e . — The company, it is announced, has purchased a ma
jority of the $5,000,000 stock of the Indianapolis Traction
& Terminal Co., which operates the Indianapolis Street R y .,
130 miles, and owns the traction terminal and 18 miles of
additional track. To finance the purchase in part, the com
pany has, it is reported, sold a block of bonds to Drexel &
Co. of Philadelphia and Lee, Iligginson & Co. and Estabrook
& Co. of Boston.
Each 100 shares o t Traction & Terminal stock, It Is stated, received 80
i f Prcf.and 80 shares ot common of the Terre Haute Indianapolis
P ‘1 ,.c.™ fraction Co. The deal. It Is understood, marks another step
,a V!w. *\
,I A
*'nal nu'rger of all the traction lines In Indiana owned
iJntm iiilm s
Mc '?iWal,' Interests, the Terre Haute Indianapolis & Eastern
controlling 8 piopcrtles formerly separate.— V. 88, p. 290.
D i r e c t o r s a t T h e i r D i s c r e t i o n t o A p p l y a P o r t i o n o f th e U n i s s u e d P r e f . S t o c k
o n o r b e fo r e O c t . 1 1911 a t P a r [ o r A d j u s t m e n t o f A c c u m u l a t e d D i v i d e n d .
i J J ^, A resolution adopted by the board of directors declaring It ad
visable that power be conferred upon the board to utilize from time to time
until and Including Oct. 1 1911, if such course shall be deemed expedient,
a poition of the unissued pref. stock at par, for the purpose of paym ent
or adjustment of the arrears of dividends, accrued and to accrue, on the
then outstanding preferred stock.
[since April 18 1906, the date of the earthquake and fire In San Fran
cisco, it has been thought advisable from time to tim e, out of the net earn
ings otherwise applicable to dividends on the pref. stock of this company,
°L lts outstanding dividend scrip, “ to purchase shares
?„
Philadelphia Company, and otherwise to apply the same
In respect of its obligation touching the acquisition of such shares, to pur
chase securities of, and to advance to. the United Railroads of San Fran
cisco moneys from time to time and also to make advances to, and to acp.tllcr subordinate com panies.” It is in view of these
i e ^ bustm ent of the accumulated pref. dividends Is procluding *Oct*° 1° 1 9 1
f° r dlvidends accrued or to accrue to and InP ro p o sed Issu e of
$6,000,000 6%
B o n d s C o n v e r tib le , $ f o r S , in to C o m m o n
S to c k a f te r n o t L e s s th a n T w o Y e a r s .
«r(nnn'nnnS°*J?tv,0n th a t.th? com pany create a series of bonds not to exceed
v°
in .b '„ iSUiCh d,atc subsequent to May 31 1910 as the directors
may determine and drawing Interest payable semi-annually at 6% per
annum, and payable in 20 years from date, and subject to redemption at
the option of the company at 105% on any Interest day upon 60 days’
K m >onds s l a .! )(r convertible at par at the option of the holders
into fully paid common stock at par from and after a date to be fixed by the
board of directors, which date shall not be less than two years from the
date of issue thereof, on any date prior to the m aturity thereof, and prior
also to the day preceding the date fixed by any call for redemption under
the terms thereof. Said bonds shall be issuable at such priw s and In such
installments, as the board may determine.
prices, ana in such
T o I n c r e a s e A u t h o r i z e d C o m m o n S t o c k f r o m $25,000,000 t o
P r o v id e f o r C o n v e r s io n s .
$31 000 000
to
(3)
A resolution that the capital stock, now' $50,000,000 of which $ 2
000,000 is common stock and $25,000,000 pref. stock, be Increased bv the
addition of $6,000,000 common stock, thereby m aking the total authorized
capital stock $;)6,000.000 ($25,000,000 to be pref. and $31,000,000 common
stock), and that such Increased common stock, $6,000,000, be reserved
and Issued from time to time upon demand to the holders of said bonds in
conversion.— V. 90, p. 378.
Virginia & Truckee Ry.— New President.— Ogden Mills was
recently elected President, with office at New York, succeed
ing D . O. Mills, deceased.
Wabash-Pittsburgh Terminal Ry.— Protective Measures.—
The Colonial Trust Co. of Pittsburgh, representing for itself
and other bondholders upwards of $000,000 of the 1st M. 4s
(outstanding issue $30,236,000), has been carefully investi
gating the present status of these bonds, and has reached the
conclusion that unless prompt action is taken to protect the
interests of these bonds as distinguished from the conflict
ing interests of the Wheeling & Lake Erie general mortgage,
“ the bonds may be made almost worthless.”
(The Presi
dent of the Central Trust Co., which is trustee of the Wheeling
& Lake Erie general mortgage bonds, it is pointed out, is also
Chairman of the Wabash-Pittsburgh Terminal first 4s.)
Samuel Unterinyer of N . Y . has therefore been retained as
counsel with a view to aggressive action. A circular sent
out by the Colonial Trust Co. says in part:
In answer to our complaint that it Is the paramount duty of the present
bondholders committee actively to protect the rights of the bondholders
as well as to enforce a possible stockholders' liability of $ 1 0 ,0 0 0 , 0 0 0 of the
Wabash RR. by reason of Its ownership of that amount of the stock of the
Terminal Company, we are told that this duty belongs rather to the Mercantlle Trust Co., the trustee of the bonds, and that the trust company
Is faithfully performing that duty.
*
Bearing on this proposition we find: (1) That the receiver of the Wheeling
& Lake Erie has abandoned the traffic agreement with the Wab - Pitts
Terminal Co. [See V. 80, p. 1231— Ed.], with the permission of the
court, and without protest from the Mercantile Trust Co. (2) That the
Wabash road has for some time past ceased making paym ents to the
lerminal company or its receiver on account of this agreement. (3) That
the lerm inal company, having been deprived of these traffic agreements
earned last year the munificent sum of $9,300 over and above its operating
expenses.
1
6
We have been urged to await the promulgation of another plan by the
committee before proceeding to protect our rights, but have decided
that, on the contrary, the bondholders should take aggressive action at
once to enforce their rights in these agreements. Until it has been de
termined whether the agreements belong to the bondholders, as was repre
sented when the bonds were sold, or whether the Wabash RR. could take
them aw ay, as is claimed, no plan is possible that will do justice to the
bonds. If the bondholders can succeed in maintaining their right to the
security on the faith of which they bought, their bonds will have a sub
stantial value. Otherwise they are likely to be treated in the manner
already suggested.— V. 90, p. 501.
Wabash RR.— Payment of Notes.— The company having
arranged with Kuhn, Loeb & Co. and Blair & Co., as already
announced, for the extension of $5,000,000 par value of the
J)/ 2 % notes for 3 years from May 1 1910, the remaining $1 ,
049,000 notes now outstanding to be paid off at maturity
and canceled, holders of said notes are notified that they
may receive payment of the face value of their notes and the
May 1 1910 coupons upon delivery of the same to the said
bankers on or after that date.— V . 90, p. 915, 850.
Western New York & Pennsylvania Traction Co.— Change
in Capitalization.— The
Public Service Commission, 2nd Dis
trict, at Albany on April 15 authorized the company to in
crease its capital stock, now amounting to $2,000,000, all
r^’ www^ was incorporated at Albany on April 22 with $16,o90,000 of auth. capital stock in $100 shares, with a view to outstanding (one-half being 5 % cum. pref.), to $2,600,000,
carrying out the plan for the reorganization of the Third to consist of common stock, $1,000,000; 1st pref. cumulative
Avenue R R . outlined in V . 90, p. 169. The plan has yet 6 % stock, $600,000, and 2nd pref. non-cum. 5 % stock,
$1,000,000, the same to be issued for the following purposes:
to be approved by the Public Service Commission__ V 90
(a) The common stock, $1,000,000, to be Issued In exchange, share for
p. 1045.
share, for the existing common stock; (ft) the 2nd pref. non-cumulative
Third A ven u e R y ., N ew Y ork C ity .— I n c o r p o r a t e d .— This
T w e n ty -E ig h th & T w en ty -N in th S treets C rosstow n R y .,
N ew Y ork .— S a le A d j o u r n e d . — The foreclosure sale has been
again adjourned to April 27.
V . 90, p. 850, 772.
Compare V . 90, p
028 __
stock, $1,000,000, to be Issued In exchange, share for share, for the exist
ing 5% cumulative stock; (c) 6% 1st pref. stock to the amount of not e x
ceeding $500,000 to be issued In exchange for a like principal amount of
“first and refunding mortgage” bonds dated Dec. 1 1906; (d) the remaining
SIOO’OOO 1st pref. In paym ent of a like amount of obligations used for build?
Ing the Carrollton-Bradford extension, $16,790 Salam anca-Little Valiev
extension. SUL000; sub-stations, $5,166, and drilling n ew gas wells? $6,500?
U n ite d R a ilw a y s In v e s tm e n t C o.— A u t h o r i t y S o u g h t f o r
(1)
A d j u s t i n g A c c u m u la te d D i v i d e n d s w ith U n is s u e d P r e f .
S to c k ; (2) C r e a tin g $0,000,000 C o n v e r tib le 6% B o n d s , a n d (3)
A u t h o r i z i n g $0,000,000 N e w C o m m o n S to c k to P r o v i d e f o r
S u c h C o n v e r s io n . — An official circular signed by Assistant
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Gas Co., Philadelphia.— Offer to Subscribe for
Secretary M V. R . W eyant, April 15 1910, announces that New Stock or Convertible Bonds.— Stockholders of record
the shareholders will be asked to act at the annual meeting April 22 are offered the right to subscribe at par for an equal
May 0 on the following matters:
amount of new stock or at their option 10-year convertible
5
-
1104
THE CHRONIC E
collateral trust 5 % bonds of the same par value.
The
privilege expires May 31. There is now $1,800,000 capital
stock outstanding. C om p areY .90, p. 978.— V . 90, p. 1046.
B a ld w in L ocom otive W ork s, P h ila d e lp h ia .— B o n d s A l l
S o l d — E a r n i n g s .— The $10,000,000 1st M. 5 % bonds offered
last week by Kuhn, Loeb & Co. and Brown Brothers & Co.
have all been sold. President John H . Converse says:
t- The mortgage will provide that the quick asets of the company are at all
times to be at least equal to the entire debt of the company, Including the
outstanding bonds of this Issue. Beginning with 1915, there will bean
annual sinking fund of 2% per annum on all bonds .Issued; bonds will be
purchased or drawn at 107
and Interest.
The earnings applicable to Interest charges have been during the past ten
years at the average of about §2,800,000 per annum. The net assets after
the application of the proceeds of the present Issue o? §10,000,000 bonds,
and deductingblllsand accounts payable,arc stated to be over §30,000,000,
against which the present Issue of §10,000,000 bonds will be the only debt.
— V. 90, p. 1046.
C hicago P n eu m a tic T ool C o.— S a l e o f B lo c k o f S t o c k .—
Chairman J. R . McGinley and President VV. O. Duiitlcy, it is
stated, have purchased several thousand shares of capital
stock from Charles M. Schwab, whose holdings still remain in
excess of a majority of the $0,485,800 stock outstanding.
The stock purchased Is In addition to a substantial amount of stock
already held and some that was purchased In the open market. The com
pany has since December last been doing the largest business In Its history,
exceeding even the best months both In the volume of goods sold and aggre
gate money value. Brices are not so high as they were before the recent
depression, but with larger sales the current proilts exceeil the aggregate
of <any prior period.— V. 90, p. 561, 500.
Colorado F u el & Iron C o. — B o n d s C a lle d . — Seventy-one
($71,000) general mortgage sinking fund 0 % gold bonds of
the Colorado Fuel Co., dated 1889, have been drawn for
redemption at 110 and interest on May 1 at the Metropolitan
Trust Co., 49 Wall S t., New Y ork.— V. 89, p. 1663.
Colorado S outhern Irrigation C o. — B o n d s O ffe r e d . — The
Trowbridge & Niver Co., Chicago, are offering at par and
int. the unsold portion of $3,000,000 1st M. 6 % gold bonds,
dated Dec. 1 1909 and due in annual installments on Dec. 1
from 1912 to 1929, inch; $150,000 yearly except in 1914 and
1929, when $250,000 and $350,000, respectively, mature; all
bonds maturing on or after Dec. 1 1919 are redeemable on
any interest date at 103 and int.
Principal and interest
The lands to be watered by this system lie In the famous Arkansas Valley
of Colorado between Pueblo and Canon City. The Arkansas River flows
through the district— a distance of 40 miles. The company owns early
direct water rights on the Arkansas River and Its tributaries; It also owns
the DeW eesc-Dye reservoir and canal, and prior appropriations for the
storage of flood waters of the Arkansas River and Its tributaries above
Pueblo, Including the head waters of the St. Charles River, sufficient to
Irrigate over 300,000 acres of land. The drainage area supplying water
embraces 4,600 square miles on the eastern slope of the Rocky Mountains.
The desirable features of the Carey A ct, which provide for the ultimate
mutual ownership of the Irrigation system by the water users, are secured
In the contract between the Irrigation company and the land owner. The
land owners acquire water rights by purchasing a share of stock In this
mutual company for each acre of land to be Irrigated. When the farmers
nav for their water rights they m utually become the owners of the entire
irrigation system . Approxim ately 300.000 acres of land are to be Irrigated
bv gravity from this system . The first unit will Include about 100,000
acres
Water rights arc selling at §75 per acre, and the trust deed limits
the bonded debt to §40 per acre. The value of raw lands between Canon
Cltv and Pueblo having an adequate water supply averages §100 per acre;
Improved lands under cultivation §100 to §300 per acre; bearing orchards
No bonds'can be Issued until there have been deposited with the trustee
as security for the bondholder' (1) A water contract duly executed by the
land owner (and assigned to the trustee); (2) a stock certificate evidencing
ownership of water rights; (3) 6% farm mortgage covering both lands and
water rights purchased, such mortgages to aggregateat le a st§ l,o 0 0 toeacn
§1 000 of bonds and the bonds not to exceed §40 per acre. The bonds are
also a first mortgage on all of the property of the company, Including water
appropriations, reservoirs, canals and laterals now owned or hereafter
acquired. The farm mortgages are payable In tw enty annual Installments,
direct to the trustee, thereby providing for the bonds as they mature yearly.
The proceeds of this bond Issue will be used In the enlargement and ex
tension of the company’s canals and laterals on the south side of the Arkan
sas River, and the development of the Grape Creek anil St. Charles reser
voirs, which when completed will bring about 100,000 acres of additional
lands under water.
. . .
,
. . . . .
,
The district to be served by this system has an estim ated rural population
of 6,500 and an urban population of 40,000. There are nearly 1,000 Indi
vidual land owners. As the Irrigation system Is developed the larger hold
Ings are being subdivided and sold, m ostly In 40 and 80-acre units. Copies
of the report of the Chief Hydraulic Engineer of the Arnold Co. of Chicago,
dealing fully with the question of water supply, storage facilities, quality
of soils and their adaptability to various kinds of crops, drainage, location
of canals and markets tor produce, will be furnished upon request.
C onsolidated G as Co. of N ew Y ork .— S e tt l e m e n t w i t h C i t y .
— The company on Wednesday paid to the city $7,428,084
and received from the latter $6,999,686 in settlement of the
claims as between the company and the city.
There Is still some'dlsagrecment as to Items aggregating several hundred
thousand dollars, the city It Is said withholding an amount to secure the
balance claimed to be due to It until a settlem ent Is reached.— V. 90,
p. 916, 851.
C u yahoga T elephone C o., C levelan d .— M e r g e r B i l l K i l l e d .
— The Ohio Senate on April 20, by a vote of 19 to 14, de
feated the measure authorizing merger agreements between
the so-called independent companies of Ohio and the Bell
interests.— V . 90, p. 505, 112.
D om in ion Coal C o. — A m a l y a m a t i o n . — See Dominion Iron
& Steel Co. below.— V. 90, p. 1042, 1046, 979.
N e w O f f ic e r . — James It. Wilson has been elected Vice
President to succeed F . L. Wanklyn.— Y . 90, p. 1042,
1046, 979.
D o m in ion Iron & S teel Co.— A m a l y a m a t i o n . — It isjofficially announced that it is proposed to form a holding
company, to be known as the Dominion Steel & Coal Cor
poration, the latter to issue its stock in exchange for the
common stock of the Dominion Iron & Steel Co. and Do
minion Coal Co,, share for share at par, with a cash bonus of
$4 a share, to be paid in four quarterly installments, the first
payment of $1 per share to be made on July 1 next. A cir
cular containing full details has been issued to shareholders.
[V O L . L X X X X .
This means that it is proposed that both the Steel and Coal stocks shall
enter the merger on equal terms, the paym ent of §4 a share being equivalent
to a dividend of 4% for the year on both the Iron and Coal common stocks.
— V. 90, p. 1046, 702.
D om in ion S teel & Coal C orporation.— N e w H o l d i n g C o m
p a n y . — See Dominion Iron & Steel Co. above.
Prospectus of Dominion Steel & Coal Corporation, Ltd. (or such name as
the Shareholders may hereafter adopt.)
I n c o r p o ra te d in N o r a S c o tia .
P r o v is io n a l B o a r d o j D ir e c to r s .
J. H . Plummer, Pres. Dominion Iron & Steel Co., Ltd., and Dominion
Coal Co., Ltd.; lio n . L. J. Forget, Vlce-Pres. Dominion Iron & Steel Co.,
Ltd.; James Reid W ilson, Vlce-Pres. Dominion Coal Co., Ltd.
The corporation has been formed for the purpose of consolidating the
Interests of the Dominion Coal Co., L td., and Dominion Iron & Steel Co.,
Ltd.; Ilrst, by acquiring the common stock of both companies In exchange
for the common stock of the corporation; secondly, by a similar exchange
of the preferred stock of the corporation for the preferred stock of both
companies, and ultim ately. If thought desirable, by substitution of securities
of the corporation for bonds of the two companies, so that their properties
may be transferred outright to the corporation.
It Is proposed that the corporation shall give one share of Its common
stock and §4 In cash for each share of common stock In the Dominion Coal
Co.. L td., and Dominion Iron & Steel Co.. L td., the cash paym ent being
payable In four quarterly installm ents of §1 each, beginning July 1 1910,
to the holder for the time being of the said shares of common stock In th
corporation.
,
. . . . . .
C o m m o n S t o c k . — It Is proposed to Issue at present sufficient common
stock to acquire the shares of the Dominion Coal Co., L td., and Dominion
Iron & Steel Co., L td., which may be ollered. No exchange will be made
unless at least 51 % of the entire common stock of each of the two companies
comes in. No further common stock will be Issued except under the au
thority and with the approval of the shareholders.
P r e j e r r e d S t o c k . — It Is proposed to Issue preferred stock sufficient t
provide for an exchange for the preferred stock of the Coal and Steel com
panies, share for share. The question of further Issues to provide for
capital expenditures In lieu of the Issue of stock or bonds by the Coal or
Steel companies will be dealt w ith by the shareholders.
F risbie & S ta n sfield K n ittin g C o., U tic a , N . Y .— C o n s o li
d a t io n — P r e fe r r e d S t o c k O f f e r e d . — Spencer Trask & Co., New
York, &c., who recently ollered the $1,000,000 7 % cum.
pref. stock at par and accrued dividend, announce that they
have sold the entire amount. As a matter of record, how
ever, their advertisement appears on another page of this
issue of the “ Chronicle.”
A bstract of Letter from President W. .1. Frisbie.
Organized under the laws of New York with a capitalization of §1,000,000
7% cum. pref. stock and §1,500,000 common stock, all outstanding except
§500,000 common stock (par of all shares §100). No bonded debt. The
properties owned and operated are: Richelieu Knitting Co. and Kendall
Knitting Co., Utica, N. Y.; Camden Knitting Co., Camden, N. Y ., and
Standard Spinning Co., Oswego. N. Y . The Frisbie and Stanslleld Interests
have controlled and managed the above properties for a period of years.
[The new company Is now being Incorporated, and we are Informed that
it will own In fee the property of the several companies, the names of the
latter being preserved merely as trade m arks--E d .]
The company has just completed a new mill In U tica, which will be In
operation within the next 30 days, and will probably Increase our volume
of business by at least 20%. It Is contemplated to erect another new fac
tory In Utica Immediately adjoining the Richelieu plant. A t Oswego we
have a practically perpetual lease to a valuable water power on the Oswego
River, which furnishes In greater part the power for the operation of Its
spinning plant. In this plant we operate 17,700 spindles, producing about
4,000,000 lbs. of yarn per annum, of which about one-half Is combed yarn.
This spinning mill furnishes yard to both the Kendall and the Camden
plants. The Richelieu mill uses alm ost entirely bleached yarn, which in
the past we have purchased from outside spinners. We are now, however.
Installing a bleaching plant In this factory, and when this bleachery Is In
operation the knitting mills will consume the entire output of the spinning
plant. While the company manufactures a complete line of standard
goods, we are paying particular attention to the future ilevclopm6nt of the
business along the line of specialties, and have recently purchased the
machinery and exclusive rights for the manufacture of a new style of ladles’
knit underwear for which large orders have recently been booked.
B a l a n c e S h e e t J a n . 3 1910, A f t e r A l l o w i n n f o r P r o c e e d s o j t h i s §1,000,000
P r e je r r e d S to c k .
L i a b i l i t i e s (§2,367,389) —
(§2,367,389)—
Real estate, machln’y, &c. «§999,oi2 Preferred s t o c k ................... §1,000,000
Inventories______________
338,959 Common stock__________ 1,000,000
230,500
206,851 Bills payable....... ..................
Accounts receivable--------56,150
Cash on hand___________
365,645 Accounts payable_______
80,739
Miscellaneous _ ________
6,421 Su rp lus..........'------- --------Paten ts, good-will, &c__ 6450,000
A s s e ts
a Real estate, §462,986; machinery, &c., §532,962; Improvements to
leases §3 565; total, §999,512. 6 Of this, §200,000 represents the cost of
the exclusive rights for the manufacture and sale under the Nlcrmcyer
patents of a new style of ladles’ knit underwear.
N e t P r o f it s A v a ila b le f o r D iv id e n d s .
1905.
1906.
1907.
1908.
1909.
A v. 5 Y rs.
§159 995
§193,088
§156,514
§114,425
§198,051
§164,415
The preferred stock Is preferred both as to assets and 7% dividends.
After the common stock has received dividends of 7% per annum, one-half
of the surplus earnings, after depreciation, must be set aside for better
ments or additions or for the purchase In the open market and cancellation
of preferred stock. The dividends on the preferred stock are payable
quarterly, Jan. 15, &c. No mortgage debt can be placed upon the proper
ties w ithout the consent of 75% of the outstanding preferred stock, or a
majority of the preferred stock together with the written consent of Spencer
Trask & Co. The preferred stock Is retirablc In whole, but not In part, on
any Interest date within 3 years from Jan. 1 1910 at 110 and accrued divi
dend. and after said period at 115 and accrued dividend.
Directors and officers; VV. J. Frisbie. Camden, N. Y ., I res.; W . H .
Stanslleld, Syracuse, N. Y ., Vlce-Prcs.; George A . I'rlsble, Utica, N. Y .,
Treas.; E. I. Goodrich, New York; C. A. B ylngton, William J. McQuade,
Hon. James S. Sherman and Walter J. Kernan, Utica: Robert Mallory,
of Spencer Trask & Co., New York.
Great Lakes T o w in g C o., C levelan d .— C o m m o n S t o c k D i v i
d e n d . __ A dividend of 2 % has been declared on the $1,675,000
common stock, payable June 1 to holders of record May 16.
The only other distribution on the common stock was a
similar amount on Jan. 15 1907.— V. 83, p. 1292.
G uanajuato (M ex.) P ow er & E lectric C o., Colorado
S p rin gs, Col.— A d j u s t m e n t o f A c c u m u l a t e d D i v i d e n d s . — The
shareholders have recently ratified a plan for adjusting the
accumulated dividends, amounting to 3 6 %
(being six
years at 6 % ) on the $1,500,000 pref. stock by giving to the
preferred shareholders an amount of new common stock
equal at par to the face value of their respective holdings of
preferred. The new stock is now ready for delivery at U. S.
Mort. & Trust Co., N. Y ., upon the stamping of the preferred
certificates with an agreement to accept this distribution as
a settlement in full of the accumulated dividends unpaid upon
said pref. stock to the extent of 3 5 % .
It is proposed to pay
the remainder 1 % , in cash on or about Aug. 1 1910.—
V. 90, p. 702, 440.
Hawaiian Commercial & Sugar Co.— R e p o r t. — For year:
C a le n d a r
Y ear—
N e t P r o fits
on S u g a r.
1909
§1,555,896
1908 ' '
2,049,740
— V. 89*. p. 1413.
O th e r N e t
P r o fits
T o ta l N e t
P r o fits .
D iv id e n d s
P a id .
B a la n c e ,
S u r p lu s .
§27,254
36,733
§1,583,150
2.086.473
§1,360,000
1,120,000
§223,150
966,473
A pr. 23 1910.j
THE CHRONICLE
International Harvester Co.— See “ Annual Reports.”
N e w D i r e c to r . — William J. Lauderback has been elected a
director to succeed William J. Calhoun, who resigned.
— V. 90, p. 562.
Iowa (Bell) Telephone Co. — S t o c k I n c r e a s e . — The stock
holders on April 5 authorized an increase of the capital stock
from $4,000,000 to $10,000,000, to provide for retiring the
bonded and other indebtedness and to provide for further
extensions and additions.
The President’s report to the stockholders, It Is stated, showed a total
gain ot telephones connected to the company’s system during the year 1900
of 67,306, making the total number of telephones connected to the system
In the State at the end of the year 330,451. The following directors were
elected: Theodore N. Vail. N. T. Guernsey, .1 G. Berryhlll, C. E. Y ost
(Pres.), E. E. Cook, C. E. lla ll, 15. P. Kauffman, P. J. Mills, G. E. McFar
land (Vlcc-Prcs.). James 15. Mason Is Secretary and Treasurer.
Late last year nearly all of the stock and most of the bonds of the
Mutual Telephone Co. of Des -Moines were purchased (V. 89, p. 596) and
the plants In Des Moines have since been merged, the telephone subscribers
of each company having been first asked to Indicate their preference
whether for separate system s or a combination, and the courts having
decided that a merger was not contrary to public policy. Pending consoli
dation of the corporations, a lease was taken of the property of the Mutual
Co. at a rental of 526,000 yearly, which, It was said, would pay the Interest
on the latter’s bonds and the dividends on Its preferred stock, the dividend
on the “service stock” to be continued so long as the holders are subscribers
to either company. The Mutual Telephone Co. at that time was reported
to have outstanding $313,000 bonds, $210,900 preferred stock, $323,840
common stock and $27,140 “service stock"— V. 89, p. 596.
Lake Superior Corporation.— E x t e n s i o n a n d R e - C a p i t a l i z a
o f R a i l w a y — $6,750,000 B o n d s to B e G u a r a n te e d —
$5,600,000 L a k e S u p e r i o r C o r p o r a tio n F i r s t M o r tg a g e 5 s to
B e C a n c e le d . — A meeting of the shareholders has been called
for May 6 to ratify the plan for extending the Algoma Central
& Hudson Bay R y ., of which 90 miles is now in operation, a
further distance of 135 miles to a connection with the main
line of the Canadian Pacific R y ., and as a part of said plan to
authorize the re-capitalization of the railway with $10,000,000
capital stock (one-half preferred) and $6,750,000 first mort
gage 5 % bonds, issuable at $30,000 per mile. The Lake
Superior Corporation, in consideration of its guaranty of the
principal and interest of the aforesaid bonds, will receive the
entire $5,000,000 common stock and will hold $1,125,000
of the preferred stock for the benefit of the railway. At the
same time $3,000,000 of the $10,000,000 first mortgage
collateral trust 5 % bonds of the Lake Superior Corporation
will be canceled, reducing the amount out to $7,000,000.
t io n
1105
Whereas, In past years net earnings amounting to over $2,000,000 have
been added to the working capital and have been used for acquisition of
property and betterments which are now earning returns upon this Invest
ment; and
Whereas, It Is, In the judgm ent of the board, desirable that $1,000,000 of
stock be sold at such a price as shall raise the am ount necessary for the
purposes set forth In this resolution and also recognize In part the Interest
of the stockholders In the assets of the company represented by earnings
added to working capital and not distributed as dividends.
E a r n i n g s . — “ The net sales for the fiscal year ending
Feb. 28 1910 were $1,358,678, showing an increase of about
3 0 % over the previous year, and the net profits were $505,
468, or an increase of about 6 3 % .” — V . 89, p. 1599.
M ansfield (O.) T elep h on e C o.— S t o c k . — A certificate was
filed at Columbus, O ., on April 18 increasing the capital stock
from $350,000 to $1,000,000.— V . 78, p. 232.
M arconi W ireless T elegrap h Co. of A m erica.— S t o c k R e d u c
t io n A p p r o v e d . — The stockholders on April 18 ratified the
plan to reduce the capital stock from $6,650,000 to $1,662,500
and the par value from $100 to $25.
N e w D ir e c to r s . — The following new directors were elected:
John B ottom ly, Edward Young and George S. De Sousa, to succeed
William R . James, John Silvester and G. Thomas Young.— V. 90, p. 917. ,
N ew O rleans D e lta D rain age C o., L td .— B o n d s O f f e r e d .—
Trowbridge & Niver Co., Chicago, &c., are placing at par
and int. the unsold portion of an issue of $1,000,000 1st M.
6 % gold bonds dated March 1 1910 and due in annual in
stallments on March 1 from 1913 to 1920; $200,000 yearly
1913 to 1918 and $150,000 yearly in 1919 and 1920. Prin.
and int. (M. & S.) payable at the Hibernia Bank & Trust
Co. (the mortgage trustee), New Orleans, or N at. Bank of
Commerce in New York. All bonds are redeemable on or
after March 1 1914 at 103 and int. Par $1,000 and $500.
Condensed Description of Property.
rich delta lands which arc mortgaged to secure this bond
Issue lie from 30 to 35 miles southwest of New Orleans and about 20 miles
north of the Gulf of Mexico. La Fourche and Terrebonne parishes. In
which these lands are located, have an estim ated population of C6.682
(53,346 In 1900 Census). The majority of the older Inhabitants are descend
ants of the early French settlers. Of late years, farmers from Ohio Indiana,
Illinois, Michigan, Wisconsin and Iowa have been moving Into these
parishes In Increasing numbers as new lands have been reclaimed.
Both water routes and railroad transportation are available. Bayou
La Fourche, one of the principal Inland waterways of Louisiana—a navi
gable stream at all seasons—flows along the eastern border of this district
on Its way to the Gulf. As the drainage canals of this system are e x
tended, every farm will front on or be accessible to a navigable stream ,
through which cane and other products can be transported to the near-by
sugar mills or the New Orleans market. Railroad transportation is af
Abstract of Circular from Secretary T. Gibson, Toronto, April 14.
forded by the Southern Pacific RR. The line of the proposed new railroad
The most pressing matter now remaining Is the completion of the Algoma from New Orleans to the Gulf passes through these lands.
Central & Hudson Day R y. to a connection with the main line of the
D r a i n a g e . — The proceeds of this bond issue will be used In the construc
Canadian Pacific R y., making a total mileage of 225 miles, of which at tion of a central pumping plant, five sub-stations and the excavation of
present only 90 miles are In operation. At present, with the steel plant canals and laterals ot sufficient capacity to properly drain 50,000 or more
cut oir [by Ice] from Its ore supply (In the United States] during five months acres of land. Since the completion of the levees confining the Mississippi
ot the year, the earnings of the railway are small.
River, these lands are not overflowed: but owing to the luxuriant growth of
Through Its completion the railway will secure: (l) Revenues which, based semi-tropical vegetation, the natural drainage Is slow.
on careful estim ates, should much more than cover the Interest on cost of
The drainage system consists ot a central electric power house and a sub
construction. Iron ore of proved quantity and quality will be made station to each unit of approximately 5,000 acres, levees surrounding each
available and can be delivered at Sault Ste. Marie a t a cost considerably unit, main or transportation canals, reservoir canals and lateral drainage
below the price now being paid for similar ore from the United States. canals. Excess water, collected by the laterals, flows by gravity into the
The opening up of the timber lands will also be ot value to the lumber and reservoir canal, from which It Is pumped into the main canal, whence it
pulp Industries. (2) A land grant of 1,665,000 acres from the Ontario flows through the bayous (rivers) to the Gulf. Crude petroleum from the
Govt, will be secured. Including timber and mineral lands of great potential near-by oil fields affords cheap fuel for the power plant. The central power
value, provided the railway Is completed as It will be by Dec. 31 1911.
house will also generate current for power purposes and for lighting.
S e c u r i t y t o r B o n d s . — These bonds are secured by a first mortgage upon
O u tlin e o f P l a n .
the
entire reclamation system , including the central power house, sub
1. (a) S a l e to C l e a r T i t l e . — The railway as It exists to-day Is to be sold stations,
canals, levees and rights of way, and by a first mortgage
for the equivalent of $3,000,000 under the powers given In the first upon the pumps,
50,000 or more acres which this drainage system reclaims. The
collateral trust mortgage of the Lake Superior Corporation.
Issue Is limited to $30 per acre: no land can be released from the lien of the
(6) C a n c e l l a t i o n o f $3,000,000 L a k e S u p e r i o r C o r p o r a t i o n B o n d s . — $3,000,- mortgage
except by the deposit with the trustee of at least $45 per acre.
000 bonds Issued under the Lake Superior Corporation mortgage will
The fertility of the soil Is due to the fact that in ages past the Mississippi
be canceled, thereby reducing the amount of the first mortgage collat River
and its tributaries carried down and depositd on this tract the best
eral trust bonds of the Corporation outstanding to $7,000,000.
soil from the rich prairie lands of the great Mississippi Valley.
2. T i e -C a p ila U r .a tio n o f R a i l w a y . — The railway company will be re-capltal- surface
decay of the luxurious growth of semi-tronical vegetation has added to
Izcd as follows [A meeting to authorize the new bonds has been called The
tills a surface soil composed of almost pure humus, ranging from one to
for May 14.— E d .]:
three feet in depth. The land not only produces in abundance any of the
50-year 5% first mortgage redeemable gold bonds (limited to
crops grown In the Mississippi Valley, notably corn and the more profitable
$30,000 per mile of completed road.)__________ _
__$6,750,000 crops
of a southern latitude, but three crops per annum from the same
5% noil-cumulative preferred stock_________________ 1 ___5,000,000
of land. Truck gardening yields from $100 to $300 per acre; oranges,
Common stock------------------------------------------------------------------- 5,000,000 piece
lemons, grape fruit, figs and other semi-tropical products from $100 to
[The proceeds of the sale of securities under the above
$300 per acre. Planted to sugar cane, the yield Is $75 to $125 per acre
capitalization, together with the cash subsidies to be
per annum.
earned from the Dominion G ovt., will give sufficient
New Orleans, with a population of 350,000, affords a market for large
funds for the completion of the road.]
of fruit, farm and garden produce. Chicago and other Northern
3. O u a r a n l u — C o n t r o l . — In consideration of a guaranty of the principal and quantities
markets are reached In from 27 to 36 hours by express. Strawberries,
Interest of the $6,750,000 first mortgage bonds of the railway company cabbages,
potatoes and other garden truck are shipped in Januarv,
by the Lake Superior Corporation, the latter will receive the whole Fedruary onions,
and March to Chicago and the Eastern markets. Thus truck
of the $5,000,000 common stock and will hold $1,125,000 of the
gardening on these fertile Delta lands Is exceedingly profitable.— V .90,p.917.
preferred stock for the benefit of the railway.
S ta tu s o f E n te r p r is e — M o s t S a tis f a c to r y P r o g r e s s B e in g M a d e .
So far as the alfalrs of the Corporation generally are concerned, most
satisfactory progress Is being made. The construction of the new furnace,
merchant mills and coke ovens are proceeding rapidly, and, so far as can
be seen, most of these plants will be entirely completed by the end of the
year, while the estimated cost Is not likely to be exceeded.
Exploration for ore has been strenuously carried on for some time past
and has already met with a large measure of success. It Is confidently
believed that when the railway extensions are completed the steel plant
will be In an Independent position both In regard to basic and Bessemer ores.
A permanent supply of limestone ot exceptional quality and of large
extent has been secured on extrem ely favorable terms. Negotiations have
practically been completed by which the Corporation will secure and control
Its own coal areas.
Some of the smaller Industries which heretofore have been operated at a
loss have been disposed of on satisfactory terms to independent operators.
Negotiations have been completed for the Introduction of new Industries
to be established by parties with Independent capital.
The operations of the existing plants have been alm ost continuous- the
reputation of the quality of rails has been maintained and orders are on
hand which will keep the steel plant fully occupied during the next six
months, whilst the prospect for future business Is excellent.— V. 90, p. 1047,
170.
Lanston Monotype Machine Co., Philadelphia.— N e w S t o c k
O ffe r e d a t 6 0 % , th e D i s c o u n t R e p r e s e n t in g P a r t o f th e E a r n i n g s
S p e n t o n P r o p e r t y .— An increase in the capital stock from
$5,000,000 to $10,000,000 was authorized last October. Of
the new stock $1,000,000 is now offered at $60 per share
(par $100) to shareholders of record on May 31, to the extent
of 2 0 % of their respective holdings, payable on or before
July 1 at the office of the company, No. 1231 Callowhill S t.,
Philadelphia. The resolution of the board authorizing this
offering has substantially the following preamble:
Whereas, the bills receivable discounted amount to $425,000 and It Is
deemed desirable to take up said bills receivable discounted and to place
the company in such financial condition that It may also benefit by cash
trade discounts In the purchase of materials, supplies and machinery; and
L o c a t i o n . — The
N ew Y ork T ransportation C o. — R e s u l t s . — For the 8 months
ending Feb. 28 1910 and the year ending June 30 1909:
C ross
earn s,
P e r io d
N e t (a ft.
ta x e s ),
O th e r P . & L . P . & L .
B a la n c e ,
in c .
C r e d . D e l),
s u r .o r d e f.
8 mos. end. Feb. 28 1 9 1 0 .. 511,992 13,309 30,551
515 12,619 sur. 3S1,755
Yearending June 30 1909.1079,883 60,067 49,780 12,359*178,885def.56,670
‘ The profit and loss debits for the year ending June 30 1909, $178,885,
Include depreciation, adjustm ents, & c . — V. 88, p. 104.
N ip issin g M ines C o. — R e p o r t . — For the year ending D ec.31:
C c ,le n d a r
Y ear—
D ie s , fro m
X .M .C o .
O th e r
T o ta l
In c. E xpen ses.
D iv id e n d s
P a id .
B a la n c e ,
S u r. or D ef.
1909 ________$1,535,000 $301 $22,018 (25%) $1,500,000 sur.$13,283
1908 ________
860,000
396 23,323
(14%)
840,000 def. 2,927
The total sales of bullion and ore of the Nipissing Mining Co., the opera
ting company, aggregated $2,241,797 In 1909, against $1,564,511 in 1908.
There was a deficit from operations after deducting the dividends shown
above of $68,014 In 1909, against a surplus of $197,532 in 1908. The total
accumulated surplus Dec. 31 1909, after adding $557,991 for ore at the
mine, smelter, &c., and deducting $337,748 for inventory, was $913,195.
against $803,326 in 1908.— V. 89, p. 781.
North Shore Electric Co., Chicago.— B o n d s S o l d — R e f u n d
O ld B o n d s . — The $500,000 refunding bonds recently
sold to Russell, Brewster & Co. and N . W . Halsey & Co.
were resold on the first day of the public offering, the price
being 98 and int. A considerable amount of the first mtge.
bonds has been deposited with the bankers for exchange for
the refunding bonds at 3 % difference, the holder of each
$1,000 1st mtge. bond surrendered receiving a $1,000
refunding bond and $30 cash.
in g
Condensed E xtracts from Bankers’ Circular Offering the “ First and Re
funding M ortgage” 5% Gold Bonds.
Bonds dated April 1 1910, due April 1 1940, redeemable at 107 and Int.
on April 1 1920, or any Int. date thereafter. Int. A. & O. In Chicago.
Par $1,000 c*. Illinois Trust & Savings Bank, trustee.
THE CHRONICLE
1106
T o ta l B o n d e d D e b t.
First and refunding mortgage bonds outstanding______________ 5500,000
First mortgage bonds outstanding (now being exchanged for “ 1st
and refunding” bonds, see above— E d .)___ ____ ______ _ . _ . .4,000,000
Underlying liens outstanding on a small portion of property at
various maturities up to 1921----------------------------------------------- 570,000
To provide for future growth the new “ first and refunding m tge.” is for
an authorized issue of 525,000,000. There are now outstanding 54,000,000
1st M. bonds of an authorized 50,000,000. Under the terms of the new
mtge. each 51.000 bond must be secured by the deposit with the trustee of a
51,000 1st M. bond, and the aggregate amount of both the 1st M. bonds and
"1st and ref. m tge.” bonds cannot exceed 56,000,000 until the entire issue
of 1st M. bonds is canceled. Additional bonds above the amounts reserved
to be exchanged for 1st M. bonds and to retire the very small amount of
underlying bonds can only be issued for 75% of the cost of additional prop’y.
A “ depreciation reserve fund” Is also provided whereby a sum equal to
not less than 2% of the par value of all bonds which have been outstanding
for not less than six months is set aside each year in addition to any amounts
expended for repairs and renewals In that year. At the end of the year
(Sept. 30 1909) it amounted to 5207,040.
The company furnishes current for lighting and power purposes in the
residential and manufacturing districts surrounding Chicago, in all about
40 communities with population of over 150,000. Operates in harmony
with the Commonwealth Edison Co., which practically controls the central
station business of producing and selling electric current in Chicago. Fran• chises unusually favorable. For the year ending Sept. 30 1909 the gross In
come was 51,005,432, and the net income available for interest was 5404,438,
The present interest charge (Including 5500,000 “ 1st and ref. M.” bonds)
is only $215,355.
G r o s s E a r n i n g s [ o r E a c h F i s c a l Y e a r S i n c e 1903.
1902-03.
1903-04. 1904-05. 1905-06. 1906-07. 1907-08. 1908-09.
5140.280 5224,637 5370,831 .$544,242 $665,890 $8t5,550 1,005,432
(Compare V. 89, p. 1481.)
P l a n R a t i f i e d . — The stockholders April 21 ratified the
resolutions to increase the capital stock from §5,000,000 to
$7,000,000 and to authorize new “ first and refunding mort
gage.” — V . 90, p. 774, 917.
N o v a Scotia S teel & Coal C o., L td .— S t e r l i n g B a n d s . — The
management, havingsold “ £300,000 of the company's bonds
n London,” has called a meeting of the stockholders for
April 30 to authorize the issue of the whole or any part of
the unissued bonds in even sterling money of denominations
of £ 2 0 , £100 and for £5 00 in lieu of bonds in dollars, and
certain other minor changes in the trust agreement.— V.
90, p. 980, 500.
O tis E lev a to r C o., N e w Y ork . — D e b e n tu r e s O ffe r e d . — Blair
& Co. have purchased the .$3,500,000 convertible 5 % deben
ture bonds and are offering them at 9 8 ^ and interest, to
yield 5 .2 0 % . See description in V . 90, p. 562. Further
particulars another week.— V . 90, p. 844, 854.
P e n n sy lv a n ia S te e l C o. — O p tio n to S u b s c r i b e f o r 15% New
S t o c k . — The directors on April 15 authorized an issue of
.$4,087,500 additional 7 % cum. pref. stock, to be offered at
par to holders of record of pref. and com. stock in amounts
equal to 1 5 % of their respective holdings. The proceeds
will be used for various extensions and improvements.
Circulars as to conditions of subscription, dates of payment,
&c., will be ready shortly. There is now outstanding $1 6,
500,000 pref, and .$10,750,000 com.— V. 90, p. 1047, 563.
P e o p le ’s N atu ral G as & P ip ea g e Co., P ittsb u r g h .— E x t r a
D i v i d e n d . — The company has declared a regular quarterly
dividend of 2 % and an extra dividend of 2 % on its $599,700
capital stock, payable April 9th to stockholders of record
April 4th.
In 1909 also paid five dividends of 2 % each.—
V . 76, p. 1411.
P e o p le ’s W ater Co. of O akland, C al. — S a l e . — See “ Oak
land” in “ State and City” department on a subsequent page.
— V. 89, p. 48.
P rocter & G am ble C o., C incinnati.— N o t e s O ffe r e d . — Proc
ter & Borden, New York City, are offering at par and interest
the unsold portion of the $3,000,000 5 % (coupon) gold notes
dated May l 1910, due $300,000 each six months up to five
years, but redeemable by the company on a 4 ) ^ % int. basis.
Par $1,000 and $5,000. Int. payable quarterfy. Compare
V . 90, p. 1047.
R ogers L o co m o tiv e W ork s. — B o n d s C a lle d . — Twenty-five
($25,000) first mortgage 5 % bonds have been drawn for
redemption on May 14 at par and interest at the Trust Co.
of America, this city.— V . 82, p. 933.
S ea ttle (W a sh .) E lectric Co.— S t o c k P le d g e d . — See Pacific
Coast Power Co. under “ Railroads” above.
S eattle-T acom a (W a sh .) P ow er Co. — S t o c k P le d g e d . — Sec
Pacific Coast Power Co. under “ Railroads” above.— Y . 89,
p. 925.
S ilv ersm ith s C o., N ew Y ork . — O p t i o n to S u b s c r i b e —
F u r t h e r D a t a . — The new issue of $3,000,000 5 % certificates
(only $2,000,000 to be issued at present), will mature $100,
000, consisting of certificates of $5,000, each July l from
1911 to 1920, both inch, and $1,000,000 (in $1,000 and
$5,000 certificates) on July 1 1920. The circular dated
April 5, cited last week, further says (see V. 90, p. 1048):
These new certificates are offered (until April 25) to the holders ot the
present certificates ($1,847,000) maturing July 1 1910 to retire and take
the place of such present maturing certificates, and sucli amount as Is not
taken by them for such purpose will be offered to the stockholders and to
the holders of the maturing certificates, subject to allotm ent in case of over
subscription. Two forms of subscription blanks are enclosed herewith,
one for the certificates maturing July 1 1920 and one for such certificates
as may tie subscribed for maturing at Intervening dates. “There Is no pur
pose on the part of the company or Its directors to make any further Issue
beyond the $2,000,000 hereby offered except for the purchase of property,
and In no case w ithout the unanimous vote of its board of directors.”
The maturing certificates will be paid at the office of the Ithode Island
Hospital Trust Co., Providence, R . I.— V. 90, p. 1048.
Springfield (O.) L ig h t, H ea t & P ow er Co.— L e a s e A p
p r o v e d . — The shareholders on April 16 ratified the plan for
the leasing of the properties to a new company which will
be organized by Theodore Stebbins of New York, under the
laws of Ohio, with $500,000 capital stock, a part of which
will be offered for subscription to the stockholders in the
present company. The following has been published:
[V O L . LX X X X
Tho new company will guarantee dividends on the stock of the present
company (51.000.000 In $100 shares) as follows: 5100,000 in bonds to be
deposited to secure the guaranty: Aug. 1 1910 (date for paym ent of first
1%) to Dec. 1 1913, 3% yearly (1% every four months); 1912 to 1914 both
Inclusive, 4% yearly; after 1914, 5%. The old company has a 25-year
franchise for lighting, heating and power running from N ov. 24 1908.
The new company will take possession about June 1 and will probably
purchase a new issue of pref. stock of the present company to provide for
the paym ent of the floating debt and to complete the extensive Improve
ments now under way. No dividends have been declared since the payment
of 1% April 10 1909. Several months ago $500,000 1st M. bonds were
Issued. Compare V. 87, p. 952; V. 89, p 353.
Street’s Western Stable Car Line.— N e w M a n a g e m e n t .—
As tho result of the efforts of the committee formed by
brokerage firms, the old management has agreed to retire
and permit the election of an entirely new board at the
annual meeting on April 26 with the exception of Frank J.
Reichmann, now President and General Manager, who will
be elected President in place of Herman Grossman. The
new officers and directors will be:
Officers— President, Frank J. Reichmann; Vlcc-Pres. and Treas., Her
man Klper; Sec., Robert J. Mills (re-elected).
Directors—Henry C. H ackney, Franklin II. Head, Herman Klper,
J. Edward Maass, J. William P op e.R . 13. Slaughter and Frank J. Reichmann
R e p o r t. — For calendar years:
C a le n d a r
Y ear.
N et
I n t. on
T o ta l N e t D iv s . on
D iv s . on
B a la n c e .
E a r n s . B o n d s , & c . I n c o m e . P r e J .(7%)
Com m on.
S u r . or D cf,
1909...........$250,996 $87,601 $163,335 $54,250 (3^ )$133,000 def.$23,915
1908------- 301,320 64,964 236,356 54,250
(2)76,000 sur.106,106
Total net surplus Dec. 31 1909, $1,431,623.— V. 90, p. 981.
Tefft-Weller Co., New York (Wholesale Dry G oods).—
R e o r g a n i z a t i o n .— The following was put out on Thursday:
The officers of this company have decided to put their affairs in the best
possible condition for the purpose of reorganization In the near future.
Positive assurances are given that the assets of the concern are largely In
excess of their debts and that all bills will bo paid as they m ature.— V.
72, p. 876, 824.
Union Bag & Paper Co .— C h a n g e o f O f f ic e r s .- — Tho office
of First Vice-President has been abolished. J. A . Kimberly
Jr., 2d Vice-Pres., has been elected Vice-President in charge
of manufacturing, and C. T . Elliott, Secretary, was made
Vice-President in charge of sales. C. It. McMillen, Assistant
to the President, was elected Secretary.— V . 90, p. 912.
United Electric Co. of New Jersey.— E a r n i n g s . — The
bond department of the Fidelity Trust G'o. of Newark, in
offering a block of the 1st M. gold 4s, due June L 1949, reports:
Y e a r e n d in g
G ross
O ver. E x p ,
«fc T a x e s .
M a rch S I.
E a r n in g s .
1909-10______ $3,277,384 $1,411,328
1,292,622
1908-09............ 2,901,691
1907-08______ 2,894,705
1,372 185
Compare V. 90. p. 114.
N et
E a r n in g s .
$1,866,056
1,609,069
1,522,520
B ond
I n te r e s t.
$779,226
779,210
779,528
B a la n c e ,
S u r p lu s .
$1,086,830
829 859
742, 92
United Irrigation & Rice Milling Co., New Orleans, L a .—•
B o n d s O f f e r e d .— Trowbridge & Niver Co., Chicago, and the
Whitney Central Trust & Savings Bank (the mortgage trus
tee), New Orleans, L a., are offering at par and int., by ad
vertisement on another page, the unsold portion of an issue
of $1,000,060 1st M. 6 % gold bonds, dated Mch. 1 1910 and
due in annual installments on Mch. 1 from 1911 to 1930, both
inch, $30,000 yearly from 1911 to 1914, thereafter $55,000
yearly. Principal and interest (M. & S.) payable at Whitney
Central Trust & Savings Bank, New Orleans, or Nat. Bank
of Commerce, New York.
Denominations $500 and $1,000.
Description of Enterprise— Bankers’ Circular.
L o c a t i o n . —The property of the company is located in the heart of the
rice belt of Louisiana. Louisiana, according to the latest (iovernment re
ports, produces 58% of the entire rice crop of the United States. Trans
portation facilities for marketing the com pany’s products arc furnished by
the following railroads: Southern Pacific, Louisiana W estern, Texas & Pacllic, Yazoo <Sc Mississippi Valley anil Colorado Southern N ew Orleans
& Pacllic.
S e c u r i t g .—-These bonds are secured by 1st mtge. on all of the property of
the company, consisting of (a ) complete modern Irrigation system , em
bracing 143 miles of canals, of sufficient capacity to Irrigate 60,000 acres
of land, of which 30,000 are now under cultivation; (ft) live rice mills, lo
cated at Crowley, Estherwood, Gueydan, Abbeville and Donaldsonvllle,
La., equipped with modern machinery, having a dally capacity of 7,200
barrels of rice; (c) 17 warehouses, having an aggregate storage capacity of
750,000 bags of rice, centrally located with railroad and side-track facilities;
and (it) 37,000 acres of rich Irrigable land, lying close to a ready market.
Fire Insurance policies on the warehouses and mills, duly assigned to
the trustee for the protection ot the bondholders, amount to 5464,375.
According to the last statement of the company, made up by Charles E.
Wcrmuth, Certified Public Accountant, New Orleans, the assets amount
to 52,008,39 1, exclusive of all contingent assets anti of all liabilities. The
engincerng features have been carefully gone over by Mr. W. If. Rosecrans,
Chief Engineer ot the Arnold Co. of Chicago.
E a r n i n g s . —The revenue of the company comes from three sources:
(1) From crops grown on Its own land: (2) from a lixed percentage of the
crops growm on other lands Irrigated by Its canal system; (3) from its stor
age warehouses and rice mills.
These properties have been in operation for the past 10 years anti during
that period the income has averaged more than double the amount neces
sary to pay the interest on this bond Issue.
B o n d I s s u e . —The proceeds ot this bond Issue will be used for extensions
and betterments of the company’s irrigation system and for general cor
porate purposes, Including the growing, buying, milling tint! selling of rice.
These extensions and betterments will greatly Increase the present earning
power. This bond issue matures serially over a period of years, thus mak
ing it easy for the company to meet Its obligations out of earnings. This
serial payment and quick reduction of debt we consider as superior to the
issuing of long-time bonds, payable from an accumulating sinking fund.
M a n a g e m e n t . -T he officers and directors are as follows:
Pres., Henry
Iieer, of the firm of H. & I!. Peer, New Orleans; 1st Vice-Pros., I. M. Lich
tenstein, cotton and rice dealer, New Orleans; 2d Vice-Pres., Henry CL
Gumbel, New Orleans; Sec. and Treas., E. H. Bright, N e w Orleans: Manager
A. Kaplan, Crcwley, La.; Henry E. Gumbel and J. Blanc Monroe.
United States Steel Corporation.— L i s t o f S t o c k h o l d e r s .—
The stock lists were opened for public inspection after tho
annual meeting on Monday, the partial lists published in the
daily papers this week being the first in any detail since 1902,
The number of stockholders. It Is stated. Is about 100,000. ’flic feature
dlsciosed by the lists is the wide distribution of Interest, the large holders
(aside from many brokerage houses holding the stock for customers) being
very small In comparison with those at the time of the previous publication,
many of the officers and directors holding only small or nominal amounts.
The largest holders of record (not Including brokerage houses) arc J. p .
Morgan & Co., with $18,000,000 common and $3,700,000 pref.; the “ Dutch
Syndicate,” $21,087,000 common stock: J. P. Morgan personally, $1,600.
000 common stock; H. C. Frick, 51,500,000 pref. and $100 common stock
(Mr. Frick was formerly about the largest holder of common stock); Presi
dent \V. E. Corey, $308,500 pref. and $113,200 common stock. E. H.
Gary and Richard Trimble hold $3,442,600 pref. and 55,493,000 common
stock, largely no doubt as trustees for employees subscribing to stock.—
V . 90, p. 1048, 775, 768.
. .
A pr . 23 1910.]
THE CHRONICLE
^ Western Union Telegraph Co .— S u c c e s s o f N i g h t L e tte r
S e r v i c e .— The company and the Postal Telegraph Co. both
report an increase in business as the result of the installation
on March7 of the system of sending 50-word letters at night.
T h e “ n ig h t l e tte r s ” a re . It Is s ta t e d , b e in g u se d In p la ce of th e m a lls a t
a c o n s ta n tly In c re a sin g ra te a n d h a v e c a u se d a n In crea se In th e n u m b e r of
s ta n d a r d r a te m e ssag e s s e n t, th e re c e iv e r of th e “ n ig h t le tte r s " In m a n y
ca ses also re p ly in g b rie fly b y te le g ra p h In s te a d of b y m a ll b ec au se of th e
S en d ing of th e o rig in a l m essag e b y w ire .— V . 90, p. 981, 711.
(J. H .) Worden Lumber & Shingle Co., Antigo, W is. (Op
erating in Chippewa and Mackinac Counties, Mich . ) . — B o n d s
O ffe r e d . — Geo. M. Seward & Co., Chicago, are offering at par
and int. an issue of $1*25,000 1st M. gold 6s, par $500, dated
March 1 1910 and due $12,500 each Sept. 1 from 1911 to
1920. Interest M. & S. Trustee, Michigan Trust Co.,
Grand Rapids, Mich.
T h e officers a n d d ire c to rs a re : J . H . W o rd e n , P re s ., a n d .T. H . D elb rld g c
V Ice-P res., A n tig o , W is.: E . A . E d m o n d s , S ec. & M g r., a n d W . I .. E d
m o n d s , T re a s ., A p p le to n , W is.
T h e c o m p a n y Is re q u ire d to d e p o s it w ith th e tr u s te e ea ch six m o n th s a
fix ed r a t e p e r 1,000 fe e t of tim b e r c u t, to be a p p lie d in p a y m e n t of th e
m a tu r in g b o n d s a n d c o u p o n s , a n d In a n y e v e n t m u s t p la c e w ith th e tr u s te e
a su ffic ie n t a m o u n t to c a re fo r a ll p a y m e n ts .
Extracts from Letter of
I':. A.
Edmonds, Sec. and Mgr.
T h is c o m p a n y o w ns a b o u t 8,4 0 0 ac re s of la n d s itu a te d in C h ip p e w a
C o u n ty , M ich.: a lso tim b e r rig h ts o n a b o u t 4 ,0 0 0 ac re s a d d itio n a l. T h is
12,000 a c re s of la n d Is co v e re d w ith a goo d g ro w th of p in e , h em lo ck , b a s s
w o o d , a s h , e lm , c e d a r a n d s p ru c e . O u r m ill is s itu a te d a t D ick , M ich.,
a n d h as d a lly c a p a c ity of 3 0 ,000 f t.: It In clu d es a p la n in g m ill, sh in g le m ill
a n d la th m ill. T h e p u rp o se of th e b o n d Issue is to re tire a n d ta k e u p o u r
b a n k lo a n s a n d to fu rn is h a little a d d itio n a l w o rk in g c a p ita l. E s tim a te d
v a lu e of tim b e r, $905,300; m ills, s to re , b u ild in g s a n d h o u ses, $ 35,000;
la n d , $50,000; to t a l, $990,500.
O w ing to th e fa ir p ric e s w h ich a re n o w o b ta in a b le fo r o u r o u tp u t , w e
c o n te m p la te a v e r y p ro fita b le o p e ra tio n o f o u r p la n t d u rin g th e p erio d
c o v e re d b y th e life o f th e b o n d s . A t a c o n s e rv a tiv e e s tim a te th e c o s t of
p ro d u c in g th e lu m b e r, & c., s h o u ld n o t exceed 50% o f th e sellin g p ric e, so
t h a t o u r n e t p ro fit o n th e o p e ra tio n s h o u ld y ie ld u s n e t o v e r $45 0 ,0 0 0 . .
Wilkes-Barre (Pa.) Gas & Electric Co.— Sale.—Sec Sus
quehanna Railway, Light & Power Co. under “ Railroads”
above.— V . 90, p. 452.
— The partial list of securities which are advertised in the
“ Chronicle” to-day on the page opposite our “ Clearing
House Returns,” by J. K . Rice Jr. & Co., 33 Wall S t., the
active and well-known dealers in miscellaneous securities,
will not fail to interest investors, bankers and banking in
stitutions who desire a ready market to purchase or sell any
of these securities. The partial list of 145 bonds and stocks
advertised admits of wide selection in the classes of securities.
The firm invites inquiries in unlisted and inactive securities
and will send its quotation sheets regularly upon request.
J. K . Rice Jr. & Co. furnish market quotations on' miscel
laneous securities for many papers, among others, the “ Chron
icle,” “ New York Evening Sun,” the “ Globe” (N . Y .) , the
“ Wall Street Summary,” “ New York American,” “ Brook
lyn Daily Eagle,” “ Financial Bulletin of Philadelphia,”
“ Albany Times-Union,” “ Springfield Daily N ew s," (Spring
field, Mass.), “ New Haven Leader” (New Haven, Conn.)
and others.
— Judge Charles F. Fishback, head of the Chicago banking
and bond house of Porter, Fishback & Co., has just returned
from a European trip made for the purpose of ascertaining
the relative position accorded to American securities in the
bond markets of London and Paris. He expresses the belief
that sound investments here are being sought after more than
ever before.
It is the purpose of his firm to devote con
siderable attention to the foreign market. This house has
recently increased its paid capital to $250,000. Among its
directors are now included former State Senator Robert
Corlett, of Corlett Bros., Napa, Cal.; E. F. Madden, Presi
dent of the First National Bank of Hays, Kan.; William B.
Austin and Thomas D . Knight, capitalists, of Chicago.
Mr. Knight is a prominent lawyer and has charge of the
negotiations for purchasing irrigation and public utility
bonds, in which . rter, Fishback & Co. specialize.
— Moffat & V »tte, bankers, 5 Nassau S t., New York, and
“ The Rookery, Chicago, are to-day offering to investors,
by advertisement elsewhere in the “ Chronicle,” $1,000,000
State of New York Highway Improvement 4 % bonds due
I960 at 106)^ and interest, yielding about 3 .7 0 % . These
bonds are part of the new $5,000,000 issue and are taxexempt in New York State, besides being a legal invest
ment for savings banks and trust funds.
-In our advertising columns, N . W . Harris & Co. of New
York and Boston are offering the investing public $2,000,000
Pacific Coast Power Co. 1st mtge. 5 % bonus due 1940. In
teresting particulars regarding this property appear in our
“ General Investment” News Department, on another page.
A general description of the bonds is given in the advertise
ment.
— Spencer Trask & Co., whose new address in New York
beginning to-day is 43 Exchange Place, arc advertising
$1,000,000 Frisbie & Stansfield Knitting Co. of Utica, N . Y .,
7 % cumulative preferred stock, in this issue. See advertise
ment for full particulars of the sale and our “ General In
vestment News” department for further details.
— Moritz Rosenthal has been admitted as a partner in the
New York Stock Exchange firm of Ladenburg, Thalmann &
Co. Mr. Rosenthal is a member of the law firm of Moses,
Rosenthal & Kennedy of Chicago, with which, it is stated,
he will retain his connection for the present.
— Cleveland Electric Railway Co. consolidated 5 % bonds
due 1913 are offered for sale by Edward V . Kane & Co.,
members of the Philadelphia Stock Exchange, in the North
American Building, Philadelphia.
T h e
1107
m in e r cu d
T im e s
.
COMMERCIAL EPITOME.
F r i d a y N i g h t , A p r i l 22 1910.
The situation remains practically unchanged. At the
West the feeling is cheerful. In the East the disposition is
to be conservative. The outlook for the crops has improved.
Wages in some cases have been advanced. Recent Demo
cratic victories in Congressional districts in widely separated
sections of the country have been noted with interest as pos
sibly portending a revival of the question of tariff revision, &c.
The inquiry into cotton speculative conditions by the
Federal Grand Jury has also created a stir. Prices of com
modities have recently declined.
L A R D on the spot has continued to decline, owing to a
further fall in live hogs and in lard futures, dulness of trade
and freer offerings of product. Prime Western 12.95c.,
Middle Western 12.90c. and City steam 1 2 ^ c .
Refined lard
has also declined, for the reasons above stated. Continent
13c., South America 14.25c.and Brazil in kegs 15.25c. The
speculation in lard futures here has been dull at a decline,
due to sympathy with depression in prices at Chicago. The
speculation in the Chicago market has been active. Prices
have shown some irregularity but in the main the trend has
been downward, owing to dulness and weakness in live hogs,
heavy selling by packers and long liquidation.
D A IL Y C L O S IN G P R I C E S O F L A R D F U T U R E S I N
S a t.
M on.
T ues.
W ed.
NEW YOR K
T l iu r s .
F r i.
M ay d e liv e r y __________1 3 .1 2
12.60
12 .6 0
12.85
12.95
12.95
J u ly d e liv e r y _________ 12.80
1 2 .3 5
12 .5 0
12.70
12.85
12.87
D A IL Y C L O S IN G P R I C E S O F L A R D F U T U R E S I N CHICAGO.
S a t.
M on.
T u e s . IW ed.
T hurs.
F r i.
M ay d e liv e r y ........ ........... 12.1 2 }* 11.85
12.05
"12.37 J* 12.45
12.50
u ly d e liv e r y __________12.05
11.85
12.02}* 12.27}* 12.32}* 12.40
P O R K on the spot has declined, owing to the decline in live
hogs and in provisions generally. Trade has been light.
Mess $25, clears $25 7 5 @ $ 2 7 50 and family $27. Beef has
been firm with stocks light and trade dull. Mess $ 1 6 @ $ 1 7 ,
packet $ 1 6 @ $ 1 7 , family 20 and entra India mess $30. Cut
meats have been quiet and easier; pickled hams, regular,
10@ 16J 4c.; pickled bellies, clear, 1 7 @ 1 9 )^ c .; pickled ribs
1 6 @ 1 0 )^ c . Tallow dull and steady; City 7J^c. Stearines
have been dull and weaker; oleo 16c.; lard 14c. Butter
quiet and lower; supplies larger; Creamery extras 31c.
Cheese quiet and firm; State, f. e., fall make, fancy, 17M c.
Eggs have been quiet and steady; Western firsts 21 % @ 2 2 c .
O IL .— Linseed has been firm. Consumers have bought
sparingly. City, raw, American seed, 8 4 @ 8 5 c .; boiled,
8 5 @ 8 6 c .; Calcutta, raw, 90c. Cotton-seed has been quiet,
with slight variations in prices; winter 7 .9 5 ® 8 .6 0 c ., summer
white 7 .9 5 @ 8 .6 0 c . Lard has been quiet and firm for prime,
the drop in raw material has had little effect upon the market
for oil, as refiners still find it difficult to secure larger sup
plies; prime $1 2 5 @ $ 1 28; No. 1 extra easier at 6 1 @ 6 3 c .
Cocoanut has been quiet but firmer; Cochin 10J4@ 10J^c.,
Ceylon 9 ^ @ 9 % c .
Olive has been quiet and steady at
8 0 @ 8 5 c . Peanut steady; yellow 6 2 @ 6 7 c . Cod in good de
mand and firm; domestic 3 8 @ 4 0 c ., Newfoundland 4 4 @ 4 5 c .
CO FFEE on the spot has been quiet and steady; Rio No. 7,
8 j^ @ 8^ g C .; Santos No. 4, 9 p g @ 9 y c .
West India growths
have been quiet and steady; fair to good Cucuta 9 % @ 1 0 J 4 c .
The speculation in coffee futures has shown a considerable
increase of late, but changes in prices have been unimportant.
The market has indicated a tendency to sag a little at times,
however, owing to weakness in the European markets and
liquidation for local longs. There has been some selling at
tributed to Europe also. Some who have sold out their
holdings of the near months have bought the distant posi
tions.
Bullish crop news from Brazil has had no effect. The
closing prices to-day were as follows:
A p r i l --------------------6 .4 5 c .
M ay --------------------0 .4 5 c.
J u n e _____________6 .5 5 c.
J u ly --------------------6 .6 5 c.
A u g u s t __________ 6 .7 0 c.
S e p t e m b e r _______6 .7 5 c .
O c t o b e r _________ 6 .7 5 c .
N o v e m b e r________6 .7 5 c.
D ecem b er
Jan u ary .
F eb ru ary
M a r c h __
6 .8 0 c.
6 .8 5 c.
6 .8 7 c .
0 .9 0 c.
S U G A R .— Raw has been quiet and easier. Centrifugal,
96-degrees test, 4.30c.; muscovado, 89-degrees test, 3.80c.;
molasses, 89-degrees test, 3.55c. Refined quiet and steady.
Granulated 5.15c. Teas moderately active and steady.
Spices quiet and steady. Wool more active but easier.
Hops dull and steady; crop accounts favorable.
P E T R O L E U M .— Refined has been steady. Export trade
has increased somewhat,' but domestic demand continues
small.
Barrels 7.75c., bulk 4.25c. and cases 10.15c. Gaso
line has been active and firm; 86-degrees in 100-gallon drums
1 8 ^ c .; drums $8 50 extra. Naphtha has been in moderate
demand and steady; 73 @ 76-degrees, in 100-gallon drums,
1 6 % c .; drums $8 50 extra. Spirits of turpentine has been
quiet and steady at 62@ 62J^c.
Rosin quiet and steady;
common to good strained $4 60.
TO B AC C O .— There have been no new or interesting de
velopments in the general situation. The market for do
mestic leaf has been quiet, with the trade as a whole still
in a waiting attitude. Prices have ruled steady.
COPPER quiet and irregular, with prices of late
somewhat steadier; lake 1 3 @ 1 3 M c .; electrolytic 12
1 2 % c .; casting u y 2 @ V 2 y s c .
Lead dull at 4 .3 5 @ 4 .4 0 c .
Lead quiet and easier at 4 .4 5 @ 4 .5 5 c . Tin more active and
firmer; spot 33 ^ c .
Pig iron quiet and steady; measures have
been taken to curtail production; No. 1 Northern $ 1 8 @ $ 1 8 5 0 ;
No. 2 Southern $16 7 5 @ $ 1 7 25. Finished material more
active.
1108
T H E C H R O N IC L E
[V O L . L X X X X .
On S hipboard, N ot Cleared Jor —
C O T T O N .
F r i d a y N i g h t , A p r i l 2 2 1910.
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
83,829 bales, against 82,410 bales last week and 81,845
bales, the previous week, making the total receipts since
the 1st of September 1909 6,857,477 bales, against 8,947,
302 bales for the same period of 1908-09, showing a decrease
since Sept. 1 1909' of 2,289,825 bales.
S a t.
G a lv e s t o n ______
P o r t A r th u r ____
C o r p .C h rIs tl,& c .
N ew O rle a n s ____
G u l f p o r t _______
M obile ________
P e n s a c o l a ______
J a c k s o n v ille , &c.
S a v a n n a h ______
B ru n s w ic k _____
C h a rle s to n _____
G e o r g e to w n -----W i l m i n g t o n ____
N o rfo lk _______
N ’p o r t N ew s, c&
N ew Y o rk ______
B o s to n ________
B a ltim o re _____
P h ila d e lp h ia ____
M on.
6,473
—
W ed.
6.178
—
T h u rs.
3,851
—
F r i.
3,964
2 6,368
—
5,023
3,197
4,445
4,697
1,546
2 1 ,8 8 0
193
4,2 0 0
148
83
16
58
8
587
"56
2,392
1,113
1,430
1,689
111
1,129
404
101
347
1,402
1,750
473
500
4 ,2 0 0
56
8,6 1 3
1,750
2 ,5 6 5
179
433
138
2,656
121
2,923
207
1,939
154
2,646
812
2,872
1,111
13,469
"98 '
73
'2 0 9
1
'2 3 3
"43
207
—
78
58
1,652
—
'7 6 4
856
1,652
45
12,216
12,956
14.115
8 3 ,8 2 9
—
15,770
—
14,543
45
14,229
The following shows the week's total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
190809.
1909-10.
R eceipts to
A p r il 22.
G a l v e s t o n ............
P o r t A r th u r _____
C o rp u s C h rls tl, & c.
N ew O rle a n s ____
G u lfp o rt _______
M o b i l e __________
P e n s a c o la _______
J a c k s o n v ille , & c.
S a v a n n a h _______
B r u n s w ic k ______
C h a r l e s to n ______
G eo rg eto w n ____
W ilm in g to n . . . .
N o rfo lk __________
N ’p o r t N ew s, & c .
N ew Y o r k .............
B o s t o n __________
B a ltim o re _______
P h i l a d e l p h i a ------
S tock.
T h is S in ce S ep
1 1909.
W eek.
T h is S in ce S ep
W eek .
1 1908.
26,368 2 ,3 7 2 ,3 5 7
132,832
73,418
21,880 1 ,122,795
8,264
500
232,614
4,200
136,842
56
38.435
8.6 1 3 1.260.711
1,750
220,450
2,565
204,175
1,351
1,111
299,940
13,469
452,811
16,863
764
8,148
856
11,327
1,652
62,448
45
1,696
4 0 ,349 3,3 5 1 ,4 8 4
140,578
136,813
3,847
29,192 1,849,777
20,221
5,126
3 4 4 ,345
130,990
28,787
313
24,772 1,380,223
309,373
196,978
3,148
2,369
67
18,436
390,708
10,187
524,081
496
15,391
181
14,772
140
15,025
749
90,345
74
5,042
83,829 6 ,6 5 7 ,4 7 7 137,077 8 ,9 4 7 ,3 0 2
T o t a l....................
1910.
1909.
81,471
8 4 ,8 3 3
117,192
506
24,221
2 0 2 ,4 5 7
42,298
1,797
9,927
'77,056
372
15,639
9,812
31,614
29,108
26 ,2 4 5
204,090
8,0 4 2
6,081
3,2 5 0
115,732
4 .8 9 9
9,368
6,5 0 0
540,301
60 3 .5 8 9
3 1 ,3 8 0
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
R eceipts at —
1009.
1910.
1908.
1907.
343
1,162
3,106
7,573
3,215
18,436
10,187
496
1,457
1,567
83,8 2 9
137,077j
58,955
76,608
2 1 ,8 8 0
500
8,613
1,750
2 ,565
1,111
13,469
T o ta l th is w k .
40,349
3,847
29,192
5,126
24,772
16,470
1906.
25,999
6,824
24,125
1,031
8,367
927
328
485
4,269
1,062
3,191
2 6 ,368
G a l v e s t o n ___
P t. A rth u r, &c.
N ew O rle a n s M obile ______
S a v a n n a h __
B r u n s w ic k __
C h a rle s to n ,& c
W ilm in g to n . .
N o r f o l k _____
N ’p o r t N ., &c
A ll o th e r s ____
..
26,543
1,874
7 ,890
1905.
24,655
297
22,713
4,496
15,001
3,792
640
2,299
7,440
308
3,041
3 1 ,7 6 0
13,746
3 4 ,9 0 0
5,3 5 7
4 2,154
1,561
787
4,4 0 2
16,137
2,154
10,368
84,862
163,326
S in ce S e p t. 1 . 6 ,6 5 7 ,4 7 7 8 ,9 4 7 ,3 0 2 7 ,5 5 6 ,7 6 8 0 ,1 9 0 ,1 5 5 7,0 4 2 ,2 4 8 8 ,3 7 7 ,8 0 8
The exports for the week ending this evening reach a total
of 49,872 bales, of which 29,150 were to Great Britain,
214 to France and 20,508 to the rest of the Continent.
Below arc the exports for the week and since Sept. 1 1909:
Exports
from —
j Week ending April 22 1910.
Exported to—
1 Great
Conti
Britain. Frnce. nent.
G a lv e sto n ___ 1 3,631
P o rt A rth u r.. . 1 .........
Corp.Chris., ifec. 1
New O rlean s.. i e’,666
M obile..............
P e n s a c o la ___ 1 4,200
G u lf p o rt.........
500
Savannah ___
B runsw ick___
5,826
C harleston___
1,064
Wilmington
...........N o rfo lk
N ew port News
New Y ork___
6,984
Boston ...........
915
B a ltim o re ___
P h ila d elp h ia. .
—
P o rtland. Me
San Francisco.
Seattle --------' ___
T a c o m a _____
P o rtland, O re. .........
P e m b in a ......... ____
D etro it......... ..
.........
T o t a l ...........
29,150
T o tal 1908-0951 66,368
.........
Total.
3,681
____
From Sept. 1 1909 to April 22 1910.
Exported to—
Great
Britain. France.
686,748 375,374
25,843 18,398
14,134 20,134 470,934
___
3,800 3,800
32,612
____
4,200
47,391
___
____
500
7,758
.........
. . . 1 227,102
_. . _ ____
5,826
87,045
16,901
....
1.064
----: 100,690
4,863
234
234
___ 1
7,189 159,551
'214 ’ ’ ’ l l
84,658
148 1,063
17,367
44,102
—
....
.........
427
2.181 2,181
____
_____
___
.........
.........
...........
___
____
...........
___
____
.........
_____
—
......... .........
......... -
174',798
73,495
54,318
___
83 991
5,496
15,700
___
38,399
6,840
____
____
.........
.........
.........
Conti
nent.
Total.
882,322 1,944,444
88,591 132,83?
16,47f
16,475
309,419 955,15.
38,566 144,673
38,922 140,631
7,75c
417,637 728,730
95,881 188,422
100,195 117,096
167,029 283,419
1,024
5,887
..
86,276 284,226
9,703
91,361
29,401
52,608
15,432
59,534
427
48,238
48’,238
23,798
23,798
3,901
3,901
200
200
600
600
...........
214 20,508 49,872 2,013,992 845,809 2,373.610 5,323,411
—
56,674 123,042.3,131,298 927.271 3,299,744i7,358,313
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.
N ew O r le a n s ..
G a l v e s t o n ____
S a v a n n a h ____
C h a r le s to n ____
M o b ile ...............
N o r f o l k ______
N ew Y o r k ____
O th e r p o r t s ___
T o ta l 1 9 1 0 . .
T o ta l 1 9 0 9 ..
T o ta l 1 9 0 8 ..
Ger
Other
m an y. F oreign
3,7 4 5
10,524
____
700
8,034
9,791
850
____
____
2,000
1,500
5,647
____
____
____
5,300
_
100
—
700
500
900
—
16,497
41 ,7 8 7
24,126
11,047
19,414
2 0,785
16,169
32,503
33 ,3 4 7
19,575
26,658
17,185
3,2 8 9
8,374
____
_
1,334
Coast
w ise.
Total.
L eaving
Stock.
422
3,1 3 0
700
21,137
3 1,819
1,550
’ 113
15,500
7',447
15,500
3,7 0 0
2,000
96,055
49 ,6 5 2
40 ,7 4 8
9,927
16,774
16,114
2 00,390
27,488
10,865 83,153
21,576 141,938
18,149 113,592
457,148
461,651
386 ,0 4 0
—
T o ta l.
3,070
2,972
'1 0 3
517
T o ta ls th is w eek
T u es.
2,830
A p r i l 22 at—
Great
B ritain. ! F ra n ce
Speculation in cotton for future delivery has been on a
moderate scale with prices on the whole somewhat lower,
although a sharp decline in the May option, following the
announcement that members of the bull party had been
summoned to appear before a Federal Grand Jury, was soon
recovered. The action in question was instituted by the
Attorney-General of the United States with a view to ascer
taining whether recent operations in cotton had been in the
nature of a restraint of trade and therefore in violation of
the Sherman Act. Messrs. Brown, Hayne and others
generally supposed to be leading speculators for a rise have
been subpoenaed and also various other members of the
trade, and the issue of the action is awaited with great
interest. Speculation has been, if anything, more quiet
than ever, and a New York Cotton Exchange membership
has sold during the week for $ 1 2 ,0 0 0 , a decline from the
previous sale of $3,000 and a drop of .$G,00Q from the price
paid early in January. The net changes in prices for
futures for the week are moderate. The New York stock is
steadily increasing. During the week the receipts from
Liverpool have been 30,913 bales and the importations since
last fall have approximated 50,000 bales. The certificated
stock here has increased thus far this month 48,413 bales.
Liverpool prices have latterly been receding, partly owing
to failures among spot houses at the South, one in particular
at Birmingham, Ala., being, it is understood, for large lia
bilities. The spot sales, moreover, at Liverpool have sud
denly dropped to small figures. Spot markets at the South
have been dull. Many of the crop reports arc of a favorable
kind. Some are to the effect that the season in parts of
Texas is several weeks earlier than usual. Many reports
also take the ground that there will be a marked increase
in the acreage. Even in South Carolina, according to some
estimates, the increase will be largo. Curtailment of mill
production, so far from being modified, is, .according to some
reports, increasing. Liquidation has been more or less
general, not only for local and Wall Street account,but also
tor Southern and Western people. Liverpool has also sold.
Fall River’s sales have been light and reports as to the
state of the yarn trade at Boston and Philadelphia are un
favorable.
Bulls at
times
have
given
support
to the market and spot prices at the South have been gen
erally reported firm. Frost is said to have caused some re
planting in portions of the Southwest and delayed planting
in some other sections. Manchester reports as to the trade
in yarns and cloths have been encouraging. Bulls still
insist that the statistical position is strong and they also
contend that the dry goods situation is not so bad as repre
sented. Southern legislators, it is said, threaten to make a
political question of the proceedings before the Federal
Grand Jury. The action of the Government seems to have
aroused
roused considerate
considerable reeling.
feeling. To-day
1 0 -ciay pricer were irregular,
losing lower, owing mainly to disap
dulness
closing
on
n the spot and scattered liquidaD ■ ^ S p o tc o tto T h e r e m n s
been
een quiet. Middling upland clo1.
1, l u r)C a decline for
the week of 1 0 points.
^
The rates on and off middling, as establisl‘l 0(i n ov> 1 7 1 9 0 9
by the Revision Committee, at which gr$a(jCs other than
middling may be delivered on contract, a
as f0 u0ws: 1
F air
................c . 1.50 o n | M id d lin g ..............c . Basil Good mm . u n g ci..i.,
S trict m kl. fair____ 1.30 o n |S tr!c t low. m id ------0.25 oft S trl tm ld . tinged-.O .i& oir*
Middling f a i r ............ 1.10 o n | Low m iddling..........0.60 off Middling tin g e d .. .0 .2 5 oft
S trict good m id____ 0.66 on | S tric t good o rd ------ 1.05 olt S tr'c t low mid. tin g .0.60 off
Good m iddling____ 0.41 on Good o rd in a ry ..........1.75off Low mid. ti n g e d ... 1.75 off
. .. ...» .
I
U .U 1
*rr,\ ( \
S trict
m iddling___
0.22 on |ISC trict
g ’d inld. tg
d .0 .3 5ft on | M iddling stain ed . -.0 .7 5 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
A p r il U to A p r il 22—
S a t.
M id d lin g u p la n d s ........................1 5 . 2 5
Alon. Tues.
15.05
1 5 .1 5
Wed. Thurs.
15 .1 5
15.25
Fri.
15.15
NEW YORK QUOTATIONS FOR 32 YEARS.
1 9 1 0 .C____ .1 5 .1 5
19 0 9______ .1 0 .6 5
1 9 0 8 ........... .1 0 .1 0
1 9 0 7 ............. .1 1 .2 0
1 9 0 6______ .1 1 .8 0
1 9 0 5______ . 7 .8 0
1 9 0 4 ______ .1 4 .0 0
19 0 3............. .1 0 .4 5
1 9 0 2 .C..........
1 9 0 1 _______
19 0 0_______
1899_______
18 9 8.......... ..
1897_______
1896.......... ..
1 8 9 5_______
9 .5 0
8.44
9.81
6.25
6.44
7.44
8 .0 0
6.94
1 8 9 4 .c . . . . . . 7.56
1893_____. . . 7.81
18 9 2 _____. . . 7.3 8
1891____ . . . 8.8 8
1 8 9 0 ____ . . . 1 1 . 8 1
18 8 9____ . . . 1 0 . 0 4
1 8 8 8 ____ . . . 9.75
1 8 8 7------- . . . 1 0 . 6 2
1 8 8 6 .c _____ 9.25
18 8 5 ________ 10.88
1 8 8 4 ________ 11.88
1 8 8 3 ________ 10.25
1882________ 12.25
1881________ 10.75
1 8 8 0 ________ 11.88
18 7 9________11.50
MARKET AND SALES AT NEW YORK.
S a tu r d a y ..
M onday. . .
T u e sd a y . .
W e d n e sd a y
T h u rsd ay .
F r id a y ____
T o ta l
S p ot M arket
Closed.
F u tures
M arket
C losed.
Q u i e t _____________
Q u ie t 20 p ts d e c ____
Q u ie t 10 p ts a d v . . .
Q u ie t, u n c h a n g e d . .
Q u ie t 10 p ts a d v __
Q u ie t 10 p ts d ec . . -
S te a d y ______
S te a d y — - V ery s te a d y S te a d y ---------S te a d y ______
B a re ly s te a d y
Sales o j S p ot and C ontract.
C on C on
S p ot. sum 'n. tract.
919
____
919
200
6,100
2,300
600
4,1 0 0
3,400
Total.
200
7,0 1 9
2 .3 0 0
600
4 1 ,0 0
3 ,4 0 0
16,700 n ' o i #
A pr . 23 1010,
T H E C H R O N IC L E
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
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AT THE INTERIOR TOWNS theTmovement— that is,
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.
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THE VISIBLE SUPPLY OF COTTON to-night, as made
©
H* ^1 4- © C0©H*H*Cl®0Ct0'l 00© I-4© i—
»® © to GOMi
©
u p by cable and telegraph, is as follows.
Foreign stocks,
to©>-»4. ©ooco©i-4'i©
©L*bw tociL*bVj©b ©b L*ci©b
©©©o©©to>-4
0ooo©oo©©©©a3ro'i'i©©»-4©oo©o
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a s well as the afloat, are this week’s returns, and conse
quently all foreign figures are brought down to Thursday
The above totals show that the interior stocks have d e
evening. But to make the total the complete figures for creased during the week 30,957 bales and are to-night
to-night (Friday), we add the item of exports from the United 123,737 bales less than at the same time last year. The
States, including in it the exports of Friday only.
receipts at all the towns have been 30,369 bales less than
the same week last year.
A p r il 22—
1910.
1909.
1908.
1907.
Stock at Liverpool..............
. 729,000 :1,288,000 938,000 1,256,000
OVERLAND MOVEMENT FOR THE WEEK AND
Stock at London...... .........
4,000
8,000
8,000
9,000
Stock at Manchester..........
55,000
81,000
79,000
93,000 SINCE SEPT. 1.— Wc give below a statement showing
Total Great Britain stock......... 788,000 1,377,000 1,025,000 1,358,000 the overland movement for the week and since Sept. 1, as
Stock at Hamburg_______
7,000
11,000
19,000
14,000 made up from telegraphic reports Friday night. The results
Stock at Bremen.......................... 281,000 464,000 448,000 427,000
Stock at Havre_________
. 301,000 331,000 241,000 205,000 for the week and since Sept. 1 in the last two years are as
Stock at Marseilles_______
3,000
4,000
4,000
3,000 follows:
Stock at Barcelona______
Stock at Genoa_________
Stock at Trieste________
8,000
42,000
43,000
16,000
----- 1909 -10--------- 19'08-09----30,000
44,000
\ p r t l 22—
27,000
78,000
S in c e
S in c e
5,000
2,000
22.000
19,000 S h i p p e d —
W eek.
S e p t . 1.
W eek.
S e p t . 1.
Via St. Louis._ ____
. 7,913
352,085
10,049 567,971
Total Continental stock"____. 03
63 8,000 898,000 804,000 822,000
. 3,857 157,876
2,349 287,511
Via Rock Island___
75
20,160
106
29,500
.1,4 26,000 ;2,275,000 1,829,000 ;2,180,000
Via Louisville__ __
. 1,847
96,574
1,011
70,163
. 216,000 157,000 115,000 207,000
Via Cincinnati_____
936
836
41,837
41,020
■ 284,788 312,235 303,741 485,974
Via Virginia points..
. 2,650 114,785
3,389 161,160
13,000
Egypt,Brazil, Ac.,aflt '
33,000
27,000
Via other routes, Ac.
38,000
847 136,322
2,978 244,285
Stock In Alexandria * ,iW_
tza.ouo 244,000 219,000 174,000
Stock In Bombay, I i
. 728,000 463,000 618,000 818,000
Total gross overland.
.18,125 919,C39
20,718
1,401,610
. 540,301 603,589 499,632 613,328 D e d u c t s h i p m e n t s —
Stock in U. S. Interior towns- . 393,220 516,966 417,549 397,553
. 3,317
83,619
1,144
125,184
10,126
19,612
2,276
Between Interior towns..
798
13,230
39,531
468
42.428
Inland, Ac., from South465
47,646
1,180
35,757
.3,737,144 •1.624,402 4,031,198 •1,927,085
Of the above, tola.s of American and other descriptions are as follows:
Total to be deducted........... ... . 4,580 170,796
2,792 203,369
A m e r ic a n —
Liverpool stock--------------- bales. 664,000 1,179,000 804,000
Leaving total net overland. .13,545 748,843
17,926
1,198,241
Manchester stock_____
4 3 000
05,000
66,000
75,000
Continental stock.____ _
601 000 855,000 726,000 767,000
* Including movement by rail to Canada.
American alloat for Europe
284,788
312,235 303,741 485,974
U. S. port stocks...................
540 301
The foregoing shows the week’s net overland movement
603,589 499,632 613,328
U. S. Interior stocks................ ” 393*229
516,966 417,549 397,553 has been 13,545 bales, against 17,926*bales for the week last
U . S . exports to-day--------------lo!l26
2,276
19,612
13,320 year, and that for the season to date the aggregate net over
Total American .............. .......
3,551,402 2,819,198
land exhibits a decrease from a year ago of 449,398 bales.
H a st I n d i a n , B r a z i l , A c .—
-------1909-101908-09Liverpool stock...........................
66,000 109,000 134,000 124.000
I n S ig h t a n d S p i n n e r s '
S in c e
.S’Jfjce
London stock.... .....................
4,000
9,000
8,000
8,000
T
a
k
i
n
g
s
.
W
e
e
k
.
S
e
p
t
.
1.
Week.
Sept. 1 .
Manchester stock.... ..................
12,000
18,000 Receipts at ports to April 22____ 83,829 6,657,477 137,077 8,947,302
16,000
13,000
Continental stock........................
37.000
43,000
78,000
55.000 Net overland to April 22_______ 13,545 718,843
17,926 1,198,241
Indld alloat for Europe.......... ..
216,000 157,000 115,000 207.000 Southern
consumption to Apr 22 46,000 1,709,000 52,000 1,608,000
Egypt, Brazil, Ac., alloat_____
16.000
33,000
27,000
38.000
123.000 244,000 219,000 174.000 I Total marketed.___________ 143,374 9,115,320 207,003 11,753,543
Stock in Alexandria, Egypt----728.000 403,000 618,000 818.000 Interior stocks In excess________*30,957
Stock In Bombay, India.-........
310,066 *62,290
402,951
1,073,000 1,212,000
Came
Into
sight
during
week_.
.112,417
_______
144,713
_______
Total American_____
3,551,402 2,819,198
Total In sight April 22________
9,425,386
____ 12,156,494
4,624.402 4,031,198
Nbrth'n
splnn’s
takings
to
Apr.
2:
15,472
1,853,818
27,190
2,349,824
Middling
Liverpool.
7.87d.
____ Upland,
......
jrpoc
5.49d.
5.3 Id.
6.39d.
Middling
New York__
_____ Upland,
_______....
_______ 15.15c.
10.40c.
10.10c.
11.30c.
•
Decrease
during
week.
Egypt, Good Brown, Liverpool__ 15fid. 8 11-16(1.
8^d.
llfSd.
Peruvian, Hough Good, Liverpool 11.00 d.
7.75d.
Movement into sight in previous years:
9.70d.
10.75d.
Broach, l-'lne, Liverpool_______
7 b i d . 5 5-16(1.
5 b id .
5H A .
W eek—
B a le s .
S i n c e S_e p. t . _
1—
B a le s .
TInncvelly, Good, Liverpool___ 7 1-1 Od.
OKU.
5Md. 1908—April 25__________ 92,887 --------1907-08—April 25...........10,215,116
im .
1907—April 26__________ 113,335 1906-07—April 26_____ 12,343,611
Continental imports for the past week have been 97,000 1906—April 27__________ 124,816 1905-06—April 27.......... 9,736,757
1905—April 28...............
197,009
1904-05—April 28_____ 11,306,418
bales.
.
The above figures for 1909 show a decrease from last week
QUOTATIONS FOR MIDDLING COTTON AT OTHER
of 40,666 bales and a loss of 886,958 bales from 1908, a MARKETS.— Below are the closing quotations of middling
decrease of 293,754 bales from 1907 and a loss of 1,189,641 cotton at Southern and other principal cotton markets for
bales from 1906.
each day of the week.
T H E C H R O N IC L E
1110
[V O L .L X X X X .
S a n A n t o n i o , T e x a s . — It has been dry all the week. The
thermometer has ranged from 48 to 88, averaging 68.
T a y l o r , T e x a s . — Dry all the week. Average thermometer
1434
14 Vi
14 34
G a l v e s t o n ........... 14 Yt
14 34
63, highest 84, lowest 42.
14 9-16
14 9-16
14 9-16
N ew O r l e a n s . . . 14 9-16
14 54
14 34
W ea therfo rd , T e x a s . — We have had rain on one day during
14 9-16
14 34
1434
M obile .................. 14 9-16
14 34
14 34
14 H
14 34
14 34
S a v a n n a h _____ 1 4 H
14 34
14 34
the week, the rainfall reaching fourteen hundredths of an
14 %
14
C h a r le s to n _____ 14 H
14 34
14 34
14 34
inch. Thermometer has averaged 64, the highest being 87
14 34
1 4 ?;
W ilm in g to n ____ 14*4
14 34
14 34
14 34
14 X
14 %
14 J4
14 34
N o r f o l k _______ 14 X
14 34
and the lowest 41.
15.25
15.05
15.15
15.15
15.25
B o s to n _______ 15.25
A r d m o r e , O k l a h o m a . — We have had rain on one day of the
1534
1534
15 34
15 34
B a l t i m o r e _____ 15 34
15 34
15.30
15.40
15.40
15.50
P h ila d e lp h ia — 15.50
15.40
week, to the extent of fifteen hundredths of an inch. The
14
U
14 5s
A u g u s ta _______
14 54
14 54
14 34
14 34
thermometer has averaged 62, ranging from 38 to 86.
14 X
14 ?4
M e m p h i s ______ 14 U
14 34
14 34
14 34
14 X
H o ld en ville, O k l a h o m a . — It has rained on one day of the
14 34
14 34
S t. L o u is ______ 14 M
14 34
14 34
14
35
14
X
14
9-16
H o u s to n .............
1434
14 34
week, the rainfall reaching thirty-eight hundredths of an
14K
L ittle R o c k ------ 14 U
14 34
14 34
14 34
14 34
inch. The thermometer has ranged from 37 to 82, averag
ing 60.
NEW ORLEANS OPTION MARKET.—The highest,
M a r l o w , O k l a h o m a . —Rainfall for the week, six hundredths
lowest and closing quotations for leading options in the New of an inch, on one day. Average thermometer 65, highest
Orleans cotton market for the past week have been as follows: 90, lowest 40.
O k la h o m a , O k l a h o m a . — We have had rain on one day of
S a t'day, M on d a y, Tuesday, W ed ’day, Thursd’y, F r id a y ,
the week, the precipitation reaching twelve hundredths of
A p r il 16. A p r il 18. A p r il 19. A p ril 20. A p ril 21. A p r il 2 2 .
an inch. The thermometer has averaged 61, the highest
A p ril—
being 86 and the lowest 37.
R a n g e ............. — @ — — @ — — @ — — @ — — @ — — @ —
C lo sin g ---------- 14.39 * 14.40 * 14.46 * 14.44 * 14.55 * 1 4 .4 9 *
N e w O rle a ns, L o u i s i a n a . —There has been rain on one day
M ay—
R a n g e ______ 14.43-.54 14.38-.58 14.37-.53 1 4.44-.52 14.45-.64 1 4 .4 9 -.6 0 during the week, the rainfall being seventy-eight hundredths
of an inch. The thermometer has ranged from 52 to 83.
C lo sin g ............. 14.42-.44 14.42-.43 14.50-.51 14.48 — 14.5 9 -.6 0 1 4 ,5 1 -.5 2
Jun e—
averaging 67.
R a n g e ---------- — @ — — @ — — @ — — @. — — @ — — @ —
S h reve p o rt, L o u i s i a n a . — Rain has fallen on one day dur
C lo sin g ---------- 14.45-.47 14.44 ♦ 14.52 * 14.50 * 14.61 • 14 .5 4 *
J u ly —
ing the week, to the extent of six hundredths of an inch.
R a n g e ---------- 14.51-.61 14.40-.61 14.41-.57 1 4.49-.59 14.53-.69 1 4 .5 7 -.66
Average thermometer 65, highest 86, lowest 44.
C lo sin g ---------- 14.53-.54 14.47-.48 1 4.55-.56 1 4.56-.57 14.66-.67 1 4 .5 6 -.5 7
A u g u st —
A l e x a n d r i a , L o u i s i a n a . — We have had rain on one day
R a n g e ---------- 13.86 — — @ — 1 3.76-.79 13.76 — 13.81 — 1 3 .7 0 -.7 8
during the week, the pi'ecipitation being one inch and seventy
C losing
13,87 — 13.7 6 -.8 0 1 3.79-.82 13.79-.82 13.82-.85 1 3 .6 9 -.7 0
S eptem ber —
hundredths. The thermometer has averaged 63, the highest
R a n g e ---------- 12.90-.92 — 12.84 — @ — — @ — — @ — 12.8 0 -.8 1
being 85 and the lowest 41.
C lo sin g ............. 12.90 — 12.77 — 1 2.82-.84 12 .8 0 -.8 5 12.83 — 12.7 9 -.8 1
A m i t e , L o u i s i a n a . —There has been rain on one day of the
October —
R a n g e ---------- 1 2.41-.50 12.27-.44 12.30-.41 12.3 1 -.4 0 1 2.34-.45 1 2 .3 3 -.4 2
week, to the extent of two inches and thirty hundredths.
C lo sin g ............. 1 2.42-.43 12.32-.33 12.37-.38 12.36-.37 12.43-.44 1 2 .3 3 -.3 4
The thermometer has averaged 60, ranging from 37 to 82.
N ovem ber —
— @ —
R a n g e ...........- — @ — — ■ @ — 12.23 — — ® —
C o lu m b u s, M i s s i s s i p p i . — We have had rain on two days
C lo sin g ............. 1 2.34-.36 12.24 * 12.30 * 12.29 * i 2 .3f -.38 12.24 *
during the week, the rainfall reaching one inch and seventy
D ecem ber —
1
2.26-.35
1
2
.2
7
-.3
3
12.20-.34
12.20-.29
12
.2
2
-.3
0
12.3
2
-.3
9
R a n g e ______
hundredths. The thermometer has averaged 61, ranging
C lo sin g ............. 1 2.33-.34 12.22-.24 12.28-.29 12.27- 28 12.23-.34 12.2 3 -.2 4
from 36 to 87.
J an u ary—
12.22-.34
12.24
—
12.35
—
1
2
.3
1
-.3
3
— @ —
R a n g e ______ — @ —
M e r i d i a n , M i s s i s s i p p i . — We have had rain on two days
C lo sin g ............. 12 .3 4 -.3 6 1 2.23-.25 1 2.30-.32 12.29-.31 12.35-.37 1 2 .2 4 -.2 6 during the week, the rainfall being one inch and ninety-four
T on e —
S
te
a
d
y
.
S
te
a
d
y
.
S te a d y .
Q u ie t.
S p o t _________ S te a d y . S te a d y .
hundredths. The thermometer has ranged from 38 to 84,
S e ta d y . S te a d y . S te a d y . S te a d y .
Q u ie t.
O p t i o n s -------- Q u ie t.
averaging 61.
V ick s b u rg , M i s s i s s i p p i . —Rain has fallen on two days dur
* Nominal.
ing the week, tht rainfall reaching three inches and fortyWEATHER REPORTS BY TELEGRAPH.—Our tele three hundredths. Average thermometer 61, highest 84,
graphic advices from the South this evening are in the main lowest 45.
H elen a , A r k a n s a s . —Cold weather has done little damage
satisfactory. Rain has been quite general during the week
but the precipitation has been light or moderate as a rule in and in other respects improved weather has helped farming.
most districts. Cotton planting has made excellent progress We have had rain on one day of the week (last Friday), the
and is nearing completion in a number of districts. A few precipitation reaching ninety-seven hundredths of an inch,
correspondents report that cool weather has done some the thermometer has averaged 57.7, the highest being 83
and the lowest 40.
damage to young cotton.
L ittle Ro ck , A r k a n s a s . — 1There has been no rain during the
G a lvesto n , T e x a s .— Planting is progressing well, but plants
in some sections have been damaged by frost. It has been week. The thermometer has averaged 61, ranging from
82.
dry all week. The thermometer has ranged from 54 to 80, 40 Eto
ld o r a d o , A r k a n s a s — We have had rain on two days dur
averaging 67.
ing
the
week, the rainfall reaching thirty-nine hundredths of
A b i l e n e , T e x a s .—Dry all the week. Average thermome
an inch." Thermometer has ranged from 38 to 86, averaging 62.
ter 67, highest 94, lowest 40.
F o r t S m i t h , A r k a n s a s . — Rain has fallen on one day of the
B r e n h a m , T e x a s .—There has been light rain on one day
of the past week, the rainfall being five hundredths of an week, the precipitation being eighteen hundredths of an
inch. The thermometer has averaged 72, the highest being inch. Average thermometer 55, highest 72, lowest 38.
M e m p h i s , T e n n e s s e e . — Weather has been too cold the past
90 and the lowest 54.
week for young crops. Planting is progressing. There has
C u ero , T e x a s .— We have had light rain on one day of the
rain on one day of the week, to the extent of fifty-four
week, the rainfall being two hundredths of an inch. The been
hundredths of an inch. The thermometer has averaged
thermometer has averaged 67, ranging from 46 to 88.
D a l l a s , T e x a s .—It has rained on one day during the vveek, 58.2, ranging from 41 to 82.4.
a s h v il l e , T e n n e sse e . —There has been rain on three days
the precipitation reaching eight hundredths of an inch. of Nthe
week, the rainfall reaching forty-four hundredths of
The thermometer has ranged from 40 to 86, averaging 68.
an inch. The thermometer has ranged from 38 to 74, aver
Fort W o r t h , T e x a s .— Rain has fallen on one day during the
56.
week, to the extent of one hundredth of an inch. Average aging
D y e r s b u r g , T e n n e sse e .— I t has rained on two days during
thermometer 65, highest 88, lowest 42.
the
week,
the rainfall reaching forty-seven hundredths of an
H e n r ie tta , T e x a s .— We have had no rain during the week.
The thermometer has averaged 67, the highest being 93 inch. Average thermometer 60, highest 80 and lowest 40.
M o b ile , A l a b a m a . —Weather has been unusually cool in
and the lowest 34.
H u n t s v i l l e , T e x a s .—Rain has fallen on one day of the the interior during the week. Light frosts quite generally
week, the precipitation being one inch and ten hundredths. reported on several mornings, with some damage to young
cotton. Planting is nearing completion in many sections.
The thermometer has averaged 62, ranging from 39 to 84.
K e r r v i l l e , T e x a s .— Dry all week. Average thermometer Rain has fallen on one day of the week, the precipitation
reaching one inch and thirty-nine hundredths. The ther
58, highest 84, lowest 32.
L a m p a s a s , T e x a s .—There has been no rain the past week. mometer has averaged 64, ranging from 45 to 82.
M o n t g o m e r y , A l a b a m a . — Rather too cold, but no special
The thermometer has averaged 62, the highest being 87 and
damage. Crops are coming up fairly well. Weather is
the lowest 37.
L o n g v ie w , T e x a s . — W e have had rain on one day of the moderating. It has rained on two days of the week, the
week; the rainfall reaching twenty-two hundredths of an rainfall reaching ninety-eight hundredths of an inch, ih c
has ranged from 42 to 77, averaging 61.
inch. The thermometer has averaged 63, ranging from 41 thermometer
S e l m a , A l a b a m a . — About 75% of the cotton crop has been
to 84.
planted and 25% is up. Cold weather has given cotton some
L u l i n g , T e x a s .—It has been dry all week. The thermo
setback and ground has been too wet for much farm work
meter has ranged from 45 to 84, averaging 65.
this week. It has rained on two days during the week, the
N acogdoch es, T e x a s .—It has rained heavily on one day
during the week, the rainfall being one inch and seventy-two rainfall reaching two inches and fifteen hundredths. Aver
hundredths. Average thermometer 55, highest 81, lowest age thermometer 60, highest 81 and lowest 39.
T h o m a s v i l l e , A l a b a m a . — Rain has fallen on two days of the
38.
P a l e s t i n e , T e x a s .—We have had light rain during the week, week, the precipitation reaching sixty-four hundredths of an
the rainfall reaching two hundredths of an inch. Thermo inch. The thermometer has averaged 58, ranging from
34 to 83.
meter has averaged 63, the highest 82 and the lowest 44.
M a d i s o n , F lo rid a .—We have had rain on three days during
P a r i s , T e x a s .—There has been rain on one day during the
week, the rainfall reaching fifteen hundredths of an inch. the week, the rainfall being one inch and eight hundredths.
The thermometer has ranged from 43 to 88, averaging 65.
The thermometer has averaged 61, ranging from 37 to 85.
C losin g Q uotations Jor M id d lin g C otton on
W eek ending
A p r il 22.
S a t'd ay.
M o n d a y . Tuesday. W ed'd ay, T h ursd’y, F r id a y ,
APR. 23 1910. j
T H E C H R O N IC L E
T a lla h a s se e , F l o r i d a . —We have had rain on one day of the
week, the precipitation being sixty hundredths of an inch.
Average thermometer 62, highest 81, lowest 44.
A u g u s t a , G e o r g ia . —We have had rain on two days dur
ing the week, the rainfall reaching one inch and two hun
dredths. The thermometer has averaged 63, ranging from
44 to 83.
A t l a n t a , G eo r g ia . —It has rained on two days during the
week, the rainfall reaching two inches and forty hundredths.
The thermometer has ranged from 38 to 73, averaging 56.
S a v a n n a h , G e o r g ia .— Rain has fallen on two days during
the week, to the extent of eighty-two hundredths of an inch.
Average thermometer 64, highest 84, lowest 45.
W a s h i n g to n , G eo r g ia . —There has been im rain the past
week. The thermometer has averaged 61, ranging from
39 to 83.
Greenwood, S o u th C a r o l i n a . —We have had rain on two
days during the week, to the extent of two inches and twentyeight hundredths. The thermometer has averaged 64, rang
ing from 40 to 87.
Gre enville, S o u th C a r o l i n a . —Rain has fallen on three days
of the week, to the extent of one inch and twenty-four
hundredths. The thermometer has averaged 58, ranging
from 38 to 77.
C h arleston , S o u th C a r o l i n a . —We have had rain on one day
during the week, the rainfall being thirty-four hundredths
of an inch. The thermometer has ranged from 49 to 76,
averaging 62.
S p a r t a n b u r g , S o u t h C a r o l i n a . —It has rained on three days
of the week, the rainfall reaching one inch and twenty-nine
hundredths. The thermometer has ranged from 36 to 84,
averaging 60.
Charlotte , N o r th C a r o l i n a . —There has been rain during the
week, the rainfall being one inch and forty-three hundredths.
Average thermometer 58, highest 79, lowest 41.
Gr eensbor o, N o r th C a r o l i n a . — Rain has fallen on four days
of the week, the precipitation reaching two inches and three
hundredths. The thermometer has averaged 61, ranging
from 39 to 83.
R a leig h , N o r th C a r o l i n a . —There has been rain on four days
of the week, the rainfall reaching two inches and seventyseven hundredths of an inch. The thermometer has ranged
from 40 to 84, averaging 62.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
A le x a n d ria , E g y p t,
A p r il 20.
R ec eip ts (c a n ta rs )—
1909-10.
T h is w e e k _______ ____
S in ce S e p t. 1 . . ...............
6 .0 0 0
4 ,8 6 3 ,9 7 7
1908-09.
1907-08.
23,000
6,53 5 ,3 6 3
4 5 ,0 0 0
6,8 9 5 ,9 7 3
1 1 1 1
2. T h a t a s w e b eliev e o n e o f th e g r e a te s t d e tr im e n ts to th e g e n e ra l
p r o s p e r ity o f th e b u s in e s s Is n ig h t w o rk , a n d t h a t th is s h o u ld b e th e firs t
th in g s to p p e d In c u r ta ilm e n t, t h a t w c m a k e a sp e c ia l p le a to a ll m ills
w o rk in g n ig h ts to s to p n ig h t w o rk Im m e d ia te ly , o r w ith in a p e rio d o f n o t
la te r t h a n t h i r t y d a y s h e n c e .
3 . R e s o lv e d , T h a t It Is o u r firm c o n v ic tio n t h a t u n le ss w e d o g r e a tly
re d u c e o u r p ro d u c tio n u n ti l s u c h tim e a s th e d is tr ib u te r s of o u r p r o d u c ts
ca n sell th e m a t so m e p r o fit to th e m a n u f a c tu r e r , a n d t h a t If w e c o n tin u e
to m a n u f a c tu r e g o o d s b e y o n d c o n s u m p tiv e re q u ir e m e n ts , w h ich a r e u n s a l
a b le e x c e p t a t a lo ss, a n d e v e n th e n to a lim ite d e x t e n t— t h a t w e sh a ll go
In to n e x t se a so n so h e a v ily h a n d ic a p p e d b y a n a c c u m u la tio n o f u n s o ld
g o o d s t h a t w e c a n n o t re a s o n a b ly h o p e fo r a n y b e tte r m e n t of o u r c o n d itio n
o r p ro s p e c ts fo r a lo n g tim e to co m e.
4 . R e s o lv e d , T h a t c o m m issio n m e r c h a n ts a n d sale s a g e n ts b e r e q u e s te d
to c o -o p e ra te w ith th e m a n u f a c tu r e r s In tr y in g to m e e t e x is tin g g ra v e
c o n d itio n s , a n d t h a t th e y fu rn is h to all m a n u f a c tu r e r s a s a c c u r a te re p o r ts
a s p o ssib le c o v e rin g s to c k s of a ll k in d s , a d v is in g th e ir c o rre s p o n d e n ts of
th e p ro b a b le d e m a n d fo r th e n e x t fo u r m o n th s .
W e also a s k t h a t th e y d is c o u ra g e th e sa le of a n y g o o d s fo r less t h a n co st.
5. R e s o lv e d , T h a t w e e a rn e s tly In v ite a ll c o tto n - m a n u f a c tu r in g a s s o c ia
tio n s to u n ite In a n effo rt to e n d th e d e p re s s io n In p ric es b y a d o p tin g p la n s
th a n w ill fit th e s u p p ly to th e d e m a n d .
0 . R e s o lv e d , T h a t a ll sale s a g e n ts b e r e q u e s te d to jo in In a n effo rt to
fin d In c re a sin g fo reig n o u tle ts f o r th e c o tto n p r o d u c ts o f tills c o u n t r y .
R e s o lv e d , T h a t, o w in g to a n o rm a l p r o d u c tio n e x c e e d in g p r e s e n t co n
s u m p tio n of c o tto n g o o d s, th e u r g e n t n e e d of A m e ric a n c o tto n m a n u f a c
tu r e r s to - d a y is b r o a d e r m a r k e ts . W e , th e r e f o r e , e a rn e s tly r e q u e s t of
c o tto n m a n u f a c tu r e r s a n d c o tto n m a n u f a c tu r e r s ’ a s s o c ia tio n s in th e U n ite d
S ta te s to jo in u s In m e m o ria liz in g C o n g ress to u se e v e rv le g itim a te m e a n s In
th e ir p o w e r to a id u s In s e c u rin g su c h m a r k e ts .
WORLD’S SUPPLY AND TAKINGS OF COTTON.
E x p o rts
To
To
To
To
T h is S in c e
T h is S in c e
W eek. S e p t. 1. W eek. S e p t. 1.
(b ales)—
L iv e rp o o l____________
M a n c h e s te r _ _______
C o n t i n e n t ........ ..............
A m e ric a _____________
T o ta l e x p o r t s _________
138,638
112,352
2,500 255,100
500 57,582
2 ,0 0 0
5,000 563,672
9 ,0 0 0 664,144 13,500 7 0 8 ,2 1 0
159,727
164,399
7 ,0 0 0 275,880
64,138
2 ,0 0 0
1
4 ,7 5 0 196,757
168,471
7,750 2 8 8,336
1,0 0 0
54,646
IN D IA COTTON MOVEMENT FROM ALL PORTS.
A pril 21.
1909-10.
Receipts at—
Week.
B o m bay...................................
1908-09.
Since
Sept. 1.
76,000 2,639,000
Week.
B om bay—
1909-10..
1008-09..
1907-08.
C alcutta—
1909-10..
1908-09..
1907-08..
M adras —
1909-10..
1908-09..
1907-08..
All o th ers—
1909-10..
1908-09..
1907-08..
T otal all—
1909-10..
1908-09..
1907-08..
46,000 33,000 79,000
1 1 ,000
16,000 27,000
7,000 8 , 0 0 0 15,000
.............
—
_______
1,6 6 6
1,0 0 0
____
1 ,000
1,0 0 0
_______
_______
13,000
7,000
Great
Britain.
Conti
nent.
78,000
19,000
18,000
735,000
167,000
445,000
1,6 6 6
1,0 0 0
1,0 0 0
1,0 0 0
3,000
4,000
3,000
30,000
29.000
16,000
1 ,0 0( 1
1,0 0 0
4,000
3,000
5,000
16,000
25,000
1 ,000
1 ,000
_______
13,000
10 ,0 0 0
3,000
19,000
15,000
192,000
148,000
11,0 0 0
111,0 0 0
60,000 33,000 93,000
19,000 19,000 39,000
9,000 1 0 , 0 0 0 2 0 , 0 0 0
104,000
41,000
37,000
967,000
660,000
597,000
2,0 0 0
3 ,000
| Since
Week. | Sept. 1.
T o ta l s u p p l y . ______ ________
11,0 0 0
Japan
<fc China.
Total.
701,000 1,517.000
491,000 980,000
271,000 734,000
36,000
27.000
11,0 0 0
69,000
60,000
30,000
15,000
1,0 0 0
2,00 0
21,0 0 0
3,000
33,000
2,0 0 0
2 2 .0 0 C
2 1,0 0 0
1 908-09.
S ea so n .
W eek.
1 ,9 3 1 ,0 2 2
9 ,4 2 5 ,3 8 6
2 ,6 3 9 ,0 0 0
2 9 7 .0 0 0
6 4 9 .0 0 0
198.000
S ea so n .
4 ,7 0 3 ,8 3 9
1 ,7 1 4 ,9 8 2
144,7 1 3 1 2 ,1 5 6 ,4 9 4
5 5 .0 0 0 1 ,6 9 0 ,0 0 0
12 .0 0 0
2 6 6 ,0 0 0
3 ,0 0 0
8 7 1 .0 0 0
1 5 7 .0 0 0
3 ,9 8 8 ,5 2 7 1 5 ,1 3 9 ,4 0 8 4 ,9 1 8 ,5 5 2 1 6 ,8 5 5 ,4 7 6
D ed u ct —
V isible s u p p ly A p ril 2 2 _________ 3 ,7 3 7 ,4 4 4
4 ,6 2 4 ,4 0 2
3 ,7 3 7 ,4 4 4 14,624,402
T o ta l ta k in g s to A p ril 2 2 ______
O f w h ich A m e r ic a n ....................
O f w h ich o th e r .................... .......
251.083 1 1 ,4 0 1 ,9 6 4 ' 2 9 4 ,1 5 0 1 2 ,2 3 1 .0 7 4
154.083 8 ,3 4 2 ,9 6 4
2 4 0 ,1 5 0 9 ,5 8 2 ,0 7 4
9 7 ,0 0 0 3,059,0001
5 4,000 2 ,6 4 9 ,0 0 0
1
* E m b ra c e s r e c e ip ts In E u r o p e fro m B ra z il, S m y r n a , W e s t I n d ie s , & c .
N o te . — I n la s t w e e k ’s Issue th e fig u res of v isib le s u p p ly A p ril 15 a n d th e
to t a l ta k in g s w ere tra n s p o s e d . C o rre c tly th e y sh o u ld re a d ;
v is ib le s u p p ly A p ril 1 5 ________ 3 ,7 8 4 ,1 1 0 3 ,7 8 4 ,1 1 0 4 ,7 0 3 ,8 3 9 4 ,7 0 3 ,8 3 9
4 1 7 ,1 9 2 11,1 5 0 ,8 8 1
3 1 3 ,1 0 0 1 1 ,9 3 0 ,9 2 4
T o ta l ta k in g s to A p ril 1 5 ______
MANCHESTER MARKET.— Our report received by
cable to-night from Manchester states that the market is
firm for yarns and shirtings. The demand for India is
improving. We give the prices for to-day below and
leave those for previous weeks of this and last year for
comparison.
1910.
32s Cop
Twist.
d.
Feb.
25 10 7-16®
Mch
4 10 54 @
11
10 %
©
18 1054 @
25 1 0 % @
Apr.
1
10 %
@
8
10 %
©
15 1 0 9-16®
22
10 %
@
1909.
% lbs. Shirt C ol’n
ings, common
to f inest.
d s. d.
1 1
% 5
1
1
1
1
1
1
1
1
”%
%
%
%
1
1
1
1
1
1
1
1
%
%
%
%
s. d.
5
@9 10%
5
5
5
5
6
6
6
6 %
©
@
@
@
5
5
5
5
7 @ 10
7% @ 10
7 %@ 10
7 %@ 10
10
10
10
10
1
d.
% lbs. Shirt
ings, common
to finest.
8
32s Con
Mid.
Upt's
Twist.
d. s d.
d.
s d.
213,000
185,000
113,000
743,000 1.814,000
545,000 1,246,000
306,000 910,000
Cot'n
Mid.
Upt’s
d.
7.99 7%
@
8
4
6
@ 8
4%
5.02
8.07 7%
8.05 7%
8.17 7 3-16
% 8 .1 5 7 %
@
@
@
8
8
8
8
4
4
4
4
6
6
6
6
@ 8
(* 8
@ 8
@ 8
4%
4%
4%
4%
5.14
5.08
4.97
4.94
1%
3
3
3
7.96 7 3-16
7.92,7%
7.8 1 7 %
7.87'7 %
(<i.
@
@
@
@
8
8
%
%
8
8
1 6% @ 8
4 7% ® S
% 4 8 @8
% 4 8 @8
5.13
5.27
7% 5.54
7 Y i 5.49
5
6
SHIPPING NEWS.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 49,872 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
i
Since September 1.
Great Conti Japan
Britain. nent. JiChtna Total.
_______
_______
1907-08.
55,000 1,690,000 43.000 1,580,000
For the Week.
Exports
from —
Since
Sept. 1.
W eek .
V isib le s u p p ly o n A p ril 15_____ 3 ,7 8 4 ,1 1 0
V isib le s u p p ly S e p t. 1 . .
____
A m e ric a n In sig h t' to A p ril 2 2 ___
112,417
B o m b a y re c e ip ts to A p ril 2 1 ___
7 6 .0 0 0
O th e r I n d ia s h lp 'ts to A p ril 2 1 . _
14.000
A le x a n d ria re c e ip ts to A p ril 20 .
1,0 0 0
O th e r s u p p ly to A p ril 2 0 . * ____
1,0 0 0
8
T h is S in c e
W eek. S e p t. 1.
1909-10.
C o tto n T a k in g s .
W e ek a n d S easo n .
uiuez,
N E W Y O R K — T o L iv e rp o o l— A p ril 1 5 — B a ltic , 5 ,2 1 4 ; C a ro n la , 1,000 6,214
750
T o .M an ch ester— A p ril 15— T h e sp is, 7 5 0 __________________ ______
T o H a v r e — A p ril 16— L a G asco g n e, 2 1 4 ____
_____ ________
214
T o H a m b u r g — A p ril 15— K a ls e rin A u g u s ta V ic to ria , 11_______
11
G A L V E S T O N — T o M a n c h e s te r— A p ril 16— T e le s fo ra , 3,681 . . . . . . . 3,681
N E W O R L E A N S — T o L iv e rp o o l— A p ril 2 0 — M u sicia n , 6 ,0 0 0 ____ 6 ,0 0 0
T o R o tt e r d a m — A p ril 15— F ra n c e s c a C la m p a , 1 ,3 9 7 .
.
1,397
T o C o p e n h a g e n — A p ril 2 0 — M llld ale, 2 0 0 ______________ .
200
T o A n tw e rp — A p ril 22— H o m e r, 5 0 0 _____
500
T o B a rc e lo n a — A p ril 19— C a ro lin a . 2 ,962 . . A p r i l 20— B rasllc n o , 2 , 1 7 5 ___
5 ,137
T o G en o a— A p ril 20— S lc a n la , 3 ,0 0 0 ____________________________ 3 ,0 0 0
T o T rie s te — A p ril 19— C a ro lin a , 700 ____________________________
700
T o N u p lcs— A p ril 20— Slcanla:, 1 ,1 0 0 ____________________________ 1 ,1 0 0
T o V en ice— A p ril 19— C a ro lin a , 2 ,0 0 0 __________________________ 2,000
T o F lu m e — A p ril 19— C a ro lin a , 1 0 0 _____________________________
100
M O B IL E — T o B re m e n — A p ril 2 0 — A sla n , 3 ,8 0 0 _____________________ 3 ,8 0 0
P E N S A C O L A — T o L iv e rp o o l— A p ril 15— I d a , 4 ,2 0 0 ________________4 ,2 0 0
G U L F P O R T —T o L iv e rp o o l— A p ril 18— M a d u ra , 5 0 0 _______________
500
B R U N S W IC K — T o L iv e rp o o l— A p rl 122— Q u een W llh e lm ln a , 5 ,8 2 6 . 5 ,8 2 6
C H A R L E S T O N — T o L iv e rp o o l— A p ril 19— U sh e r, 1 ,0 6 4 ................... .. 1,064
N O R F O L K — T o H a m b u r g — A p ril 16— K e n tu c k y , 2 3 4 _____________
234
B O S T O N — T o L iv e rp o o l— A p ril 19— C y m ric, 9 1 5 ________ _________
915
T o Y a r m o u th — A p ril 14— B o s to n , 1 4 8 _________________________
148
S A N F R A N C IS C O — T o J a p a n — A p ril 19— C h in a , 2 ,1 3 1 ____________ 2,131
T o V a n c o u v e r— A p ril 19— C ity of P u e b lo , 5 0 ______ ____________
50
T o ta l
........................................................................................................................... 4 9 ,8 7 2
CURTAILMENT OF PRODUCTION IN NORTH CARO
LIVERPOOL.— By cable from Liverpool we have the fol
LINA.— M e e t i n g at Greensboro. —The resolutions adopted at
the meeting of cotton mill men at Greensboro, N. C., on lowing statement of the week’s sales, stocks, &c., at that port:
A p r il 1.
A p r il 8 . A p r i l 15. A p r il 22.
April 19 are as follows:
S ale s of th e w e e k _______ b a le s . 6 1 ,0 0 0
8 1 ,0 0 0 *
5 5 ,0 0 0
* 4 6 ,0 0 0
W h e re a s , T h e c o n d itio n s In th e c o tto n p oods tr a d e a re su ch t h a t a la rg e
O f w h ic h s p e c u la to rs t o o k . . 4 ,0 0 0
2 ,0 0 0
1,0 0 0
m a jo r ity of m a n u fa c tu re rs c a n r u n th e ir p la n ts o n ly a t a loss, th e p ro d u c
Of w h ic h e x p o r te r s to o k ____________ 2 ,0 0 0 1 6 ,000
2 ,0 0 0
tio n of c o tto n g oods b e in g b e y o n d th e c o n s u m p tiv e p o ssib ilitie s of th e S a le s, A m e ric a n _______________ 5 6 ,000
7 6,000
5 1 ,000
c o u n tr y a t p re s e n t c o s t of ra w m a te ria l; a n d w h e re a s , th e o n ly r e m e d y
A c tu a l e x p o r t_________________ 14,000
3 4 ,0 0 0
3 0 ,0 0 0
a n d h o p e fo r th e b e t te r m e n t of c o n d itio n s Is m o re d r a s tic c u r ta ilm e n t
F o r w a r d e d ___________________ 6 5 ,000
7 1 ,0 0 0
9 1 ,0 0 0
th a n Is n o w In force:
T o ta l s to c k — E s ti m a t e d ______ 8 3 2 ,0 0 0
7 7 4 ,0 0 0
7 3 7 ,0 0 0
1.
Itc s o lv c d , B y th e c o tto n m ills re p re s e n te d In th is m e e tin g t h a t in th e O f w h ic h A m e ric a n — E s t ___ 7 5 8 ,0 0 0
6 7 2 ,0 0 0
7 0 5 ,0 0 0
g e n e ra l I n te re s t of a ll th e m ills a n d m a n u fa c tu rin g b u sin ess t h a t w e c u r ta il T o ta l Im p o rts of th e w e e k ____ 6 0 ,0 0 0
8 4 ,0 0 0
4 6 ,0 0 0
(e x istin g c o n tr a c ts e x c e p te d ) th e n o rm a l o u tp u t o f y a rn s a n d c lo th s of ea ch
O f w h ic h A m e ric a n _________ 3 9 ,0 0 0
7 7 ,0 0 0
3 2 ,0 0 0
m ill b e tw e e n M ay 1 a n d S e p t. 1 n e x t a t le a s t o n e -th ird , a n d t h a t w c call
A m o u n t a f l o a t. - ...........
.1 9 4 ,0 0 0
186,0 0 0
1 8 3,000
u p o n all c o tto n m ills In th e S o u th to d o likew ise;
O f w h ic h A m e ric a n _________ 153,000
130,000
145,0 0 0
R e s o lv e d , f u r th e r, T h a t w c d e p re c a te n ig h t w o rk , a n d w ill n o t en g a g e
In I t d u rin g th is p erio d
* I n c lu d in g 3 ,0 0 0 b ales of c a lled A m e ric a n c o tto n .
2 ,0 0 0
1,0 0 0
4 4 ,0 0 0
5 ,0 0 0
6 7 ,0 0 0
7 2 9 ,0 0 0
6 6 4 ,0 0 0
6 4 ,0 0 0
5 0 ,0 0 0
1 5 2 ,0 0 0
107.0 0 0
T H E C H R O N IC L E
1113
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.
M arket,
12:15
P . M.
Saturday.
Monday.
Dull.
F air
business
doing.
1
}
J
Tuesday.
Wednesday. Thursday.
F air
business
doing.
M oderate
dem and.
Quiet.
Friday.
Dull.
Mid. U p l’ds
7.93
7.97
7.86
7.89
7.89
7.87
S a le s .........
Spec. &exp.
C a lle d ___
7,000
500
1,000
10,000
1,000
8,000
500
8,000
500
1,000
6,000
500
4,000
500
1,000
Quiet a t
3® 4 pts.
advance.
M arket
opened
S teady a t Quiet, u nch. Steady a t
1 5@7 pts. to 2 pts. 4@6 pts.
decline.
i advance. advance.
M arket,
d
P . M.
1 Steady a t E a sy .u n c h . Steady a t Barely s t’y,
unch. to l
to 5%
4® 6%
1%®5
pts. dec.
J pts. adv. pts. dec.
p t. dec.
Futures.
Q uiet a t
4 points
advance.
Dull a t
3 points
decline.
Q uiet a t
1 %@3
pts. adv.
Barely s t’y,
unch. to3%
pts. dec.
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 (liven in pence and 100 ths.
A p ril 16
M on.
S a t.
to
A p ril 2 2. 12 K
p .m .
A p ril
. .
d.
M a y -J u n e
J u n e - J u ly
J u ly - A u g
A u g . -S ep
S e p t.-O c t.
O c t.-N o v .
N o v .- D ec.
D e c .- J a n
J a n .- F e b
F e b .-M c h .
M ch .-A p r. —
d.
cl.
71
67 %
64 %
59 %
54 %
26
84
64 %
57%
55
53 %
53
6 52 %
6
T h u rs.
W ed.
75
70 %
67 %
62 %
57
27%
85%
05
57 %
55
54
53 %
53
d.
71
62 %
57 %
52
23
80
59 %
52
49 %
48 %
48
47%
d.
64
59
56
50
45
16
74
54
47
45
44
43
43
d.
d.
% 65 %
60
57
% .) 1
46
17
74 %
% 55 %
48
45 %
44 %
% 44
43%
67
62
59
54
18
18%
76
57
19%
47 %
40
45%
45
d.
64 %
59 %
56 %
51
45%
16 %
74 %
55 %
18
45 %
44 %
44
43%
d.
66 %
61 %
58 %
53 %
48 %
19
77
57%
50
47 %
46 %,
46
45 %
d.
d.
66
65
61
60 %
58
57 %.
53 %. 53 'A
18 % 48 %
19
19 %
77
77 %
57 %, 59 %
50
52
4 7 % 49 %
46 %> 48 %
46
48
45 % 47 %
S a t.
d.
M on.
Tues W ed. T h urs. F r i .
106% 106 % 106% 108
108 %
101% 1 0 0 % 100% 101% 1 0 2 %
99 % 9 8 % 9 8 %
99% 100%
Indian corn futures have been irregular. Here in New
York very little trading has taken place. At the West,
however, speculation has been active, with the trend of
prices much of the time towards a lower level, owing to the
weakness in wheat, persistent selling for the decline by promi
nent elevator interests and long liquidation, partly for coun
try commission houses. Occasional rallies, owing to liqui
dation on the short side. Prominent bears have covered
large lines, supposed to represent in part at least a profit of
10 cents a bushel. Of late the cash demand has increased.
Sentiment is still bearish, however, owing to the large stocks
and the favorable crop prospects. To-day prices were ir
regular, closing higher on the rise in wheat, commission-house
buying of the new-crop months and covering of shorts.
D A IL Y C L O S IN G P R I C E S O F N O . 2 M IX E D C O R N I N N E W Y O R K .
S a t.
M on.
T u es.
W eil. T h urs. F r i .
C ash c o r n _________________________ N o m . N o m , N o m . N o m . N o m , N o m
66%
66% 67% 67%
68%
M ay d e liv e ry In e le v a to r __________ 6 8 %
J u ly d e liv e ry In e le v a to r __________ 7 1 %
70%
70% 70% 70%
71%
D A IL Y C L O S IN G P R I C E S O F C O R N F U T U R E S I N C H IC A Q P .
S a t.
62 %
58
55
51
46
17
74 %
57
49%
47 %
46%
40
45 %
LXXXX.
D A IL Y C L O S IN G P R I C E S O F W H E A T F U T U R E S I N CHICAGO.
M ay d e liv e ry In e le v a to r ..................108
J u ly d e liv e ry In e l e v a to r --------------101%
S e p te m b e r d e liv e ry In e le v a to r ------ 100
F ri.
4 12M
12 X
4 12%
4
4 12.K 4 12 K
p .m . p .m , p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m .
12 H
p .m .
7
7
7
7
7
7
6
6
6
6
6
Tim s: 7 71 m eans 7 7 1- 1OOcI.
T u e s.
[VOL.
M ay d e liv e ry In e l e v a to r .................... 5 7 %
J u ly d e liv e ry In e l e v a to r __________6 0 %
S e p te m b e r d e liv e ry In e l e v a to r ____ 6 2 %
M on.
T u es.
57%
60%
61%
W ed. T h u rs. F r i .
56%
60%
61%
57%
60%
62%
57 %
61%
62 %
58%
61%
62 %
Oats for future delivery in the Western market have been
moderately active and prices have followed in the wake of
corn. Cash interests have continued to sell and there has
been further liquidation. The cash demand has been some
what larger at the lower prices, and there has been some buy
ing on this and also because of the belief among some that
present quotations are low enough. In the main, however,
the purchasing has been merely to cover shorts. To-day
prices were irregular, within narrow limits, closing somewhat
firmer in the main, owing to the rise in wheat and covering.
D A IL Y C L O S IN G P R I C E S O F O A T S I N NEW YORK.
S a t.
BREADSTUFFS.
,
F r i d a y , A p r i l 22 1910.
Prices for wheat flour have declined on most grades,
owing to the further reduction in the price of wheat. The
lower values, however, have little effect upon the volume of
business, though a somewhat larger inquiry has been re
ported at times. The crop outlook in most sections of this
country is considered so favorable that consumers of flour
are apparently determined to buy as sparingly as possible,
believing that purchases can be made to better advantage
later in the season. At the Northwestern markets sales of
flour have increased of late, but the reports from the West
and Southwest continue to reveal a very unsatisfactory
situation. Rye flour has been quiet and easier. Corn meal
has been quiet and steady.
Wheat has continued to decline, chiefly owing to a prom
ising crop outlook. This applies to most sections of this
country, and it may be added that in Europe the indications
also point to a large yield. Spot markets in this country
have, moreover, been depressed, and this factor has counted
for not a little. It seems to indicate plainly enough that the
domestic mills persist in their policy of buying only from
hand to mouth, and it is no less clear that exporters still hold
aloof. Country mills are said to have been trying to re-sell
No. 2 red wheat which they have been carrying at a loss
since last fall. Trade in flour has been dull. The South
west and the Northwest have been selling wheat at Chicago.
Cash interests have sold May.
Spring-wheat re
ceipts have exceeded those for the same time last
year.
Foreign markets have declined.
The world’s
shipments last week reached 12,448,000 bushels, or, roughly,
1,500,000 bushels more than in the previous week and no
less than 5,000,000 more than for the same week last year.
A vast change for the better in the crop outlook is reported
in some parts of the Southwest since the recent rains. The
world’s stocks show a large increase over those of a year
ago. In other words, the total supply is stated at 151,246,
000 bushels, or about 34,000,000 bushels more than at the
same time in 1909. On the other hand, some think that a
rally is due, if it is only temporary, after the recent severe
depression. The stock of No. 2 red wheat at Chicago is
very small and it is argued that no great increase in the cash
demand would be necessary to restore the cash premiums
over futures. From some parts of the Southwest, too, more
or less unfavorable reports are still being received. This
applies not only to Kansas, but also to Missouri and Nebras
ka. It is surmised that a short interest of very fair propor
tions has been built up on the recent decline. Large opera
tors are arranged on opposite sides of the market. The con
census, however, is bearish. Some lay stress on impending
large shipments from Russia, but the things most dwelt
upon are the dulness of cash trade and the flattering crop
outlook at home and abroad, together with the fact that
offerings of Russian and Manitoba wheat are liberal at
gradually sagging prices. To-day the market was irregular,
closing higher on bullish crop reports from parts of the South
west, buying by leading interests and covering of shorts.
D A IL Y C L O S IN G P R IC E S O F W H E A T F U T U R E S IN
Sat.
Mon. Tues.
NEW
YO R K .
Wed. Thurs. Fri.
N o .'2 re d w in te r, f .o .b .................... - .1 1 9
116
115% 114 % 114 % 116%
M ay d e liv e ry In e le v a to r . ...............116% 114 % 1 13% 113 % 114 % 1 1 5 %
J u ly d e liv e ry In e le v a to r ....................110% 10 9 % 1 08% 108 % 109% 110 %
M on.
T u es.
W ed.
T h urs.
F ri.
N a tu r a l w h ite ______4 6 % -4 9 4 6 % -4 8 % 45 % -48 4 5 % -4 8 4 5 % -4 8 4 5 % -4 8
W h ite c lip p e d ............47 % -53 47 % -52 % 46 % -52 4 6 % -5 2 46 % -52 46 % -52
D A IL Y C L O S IN G P R I C E S O F O A T S I N CHICAGO.
S a t.
M ay d e liv e ry In e l e v a to r ...................... 4 2 %
J u ly d e liv e ry in e i e v a to r ___________ 3 9 %
S e p te m b e r d e liv e ry In e l e v a to r _____ 3 7 %
M on.
T u es.
42%
40
38%
W ed . T h u rs. F r i .
41%
39%
37%
41%
39%
37%
42
39%
38%
41
39%
3 8%
The following are closing quotations:
W in te r, low g r a d e s ____$3 0 0 ® $ 1 00
W in te r p a t e n ts _________ 5 6 0 ® 5 90
W in te r s tr a i g h ts _______ 5 0 0 ® 5 25
W in te r c le a r s __________ 4 4 0 ® 4 80
S p rin g p a t e n ts _________ 5 40 @ 5 75
S p rin g s tr a i g h ts _______ 5 0 0 ® 5 30
S p rin g c le a r s ___________ 4 00 0 4 60
K a n s a s s tr a ig h ts , s a c k . $4
K a n s a s c le a rs, s a c k s ---- 4
C ity p a t e n t s ___________ 6
R y e H o u r_______________ 3
G ra h a m flo u r_ ............... .. 4
C orn m e a l, k iln d r i e d . . 3
9 0 @ $5
00® 4
70® 6
90® 4
15® 4
00® 3
C o rn , p e r b u s h e l—
N o . 2 m i x e d _______elev .
N . D u lu th , N o. 1 ..................SI 1 7 %
N o. 2 y e l l o w _____ f .o .b .
N . D u lu th , N o. 2 .................. I 1 5 %
N o . 2 w h ite ............... f .o .b .
R ed w in te r. N o . 2 — f .o .b . 1 16%
H a rd w in te r, N o . 2 ------------ N o m . R y e . p e r b u s h e l—
N o. 2 W e s t e r n ____f .o .b .
O a ts , p e r b u s h e l—
C en ts.
S ta te a n d J e r s e y ___
N a tu r a l w h ite ...................4 5 % © 4 8
B a rle y — M a l t i n g ____
W h ite c lip p e d _________ 4 6 % ® 5 2
F e e d in g , c .l .L .N .Y .
M i x e d . ............................ - N o m in a l
25
40
90
20
25
10
C en ts
N o m in a l
N o m in a l
N o m in a l
N o m in a l
N o m in a l
N o m in a l
N o m in a l
The statements of the movement of breadstufTs 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—
Flour.
Wheat.
Oats.
Corn.
Barley.
Rye.
bbls. 19616s. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.W bs. 6 m.58 lbs.
C h icag o___
M ilw aukee..
118,535
45,180
13,935
Minneapolis.
D e tro it.........
Cleveland . .
S t. Louis__
8,520
769
37,030
5 5 ,6 0 0
Kansas City.
T o t.w k .’lO
Same wk. ’09
S am ew k. '08
279,569
304,235
310,480
100,800
171,020
590,010
1,172,010
28,000
11,233
1,000
154,415
13,000
226,050
1,181,400
92,660
178,505
88,110
100,000
77,001
60,176
387,920
213,113
250,800
1,125,700
171,700
113,073
170.180
39,000
26,928
107.180
262.400
100,800
106,500
393,500
171,000
113,078
183,820
2,139
15,600
63,000
8,000
4,400
2,477,207
l ,62 1,525
1,607,118
2,638,775
1,4 10,896
2,003,544
2,289,761
2,284,776
3,165,071
943,337
702,051
558,577
80,528
75,139
40,240
12,009
14,280
0,148
28,550
1,150
Since Aug. 1
1 909-10... 15.934,557 215,717,695 144,254,603 52,308,651 67,117,051 5,859,053
1 908-09... 15,157,375 193,660,658 112,963,013 128,075,093 71,630,899 5,620,260
1 907-08... 13,450,393 180,788,874 141,755,218 147,495,031 54,808,388 5,837,184
Total receipts of flour and girain at the seaboard ports for
the week ended April 10 1910 follow:
Receipts at—
New Y ork...............
B o s to n ____ _____
P ortland, Me . . . .
Philadelphia _____
Baltim ore .............
Richmond .............
New Orleans * . . . .
G alveston...............
Mobile. .................
M ontreal.................
St. J o h n .................
Oats,
bush.
Barley,
bush.
Flour,
bbls.
Wheat,
bush.
Corn,
bush.
103,708
39,300
2,000
44,030
35,025
2,403
17,449
3,428
62,400
24,940
120,000
147,866
10,402
7,511
6,000
74,250
67,650
222,650
85,250
14,025
41,798
61,420
59,454
45,528
73,400
57,849
34,665
21,072
01,500
4,000
11,75!)
3,177
53,000
25,000
......... ..
34,410
272,000
18,000
17,000
7,018
24,772
7,183
16,000
Rye,
bush.
1,150
7,007
714
423,720
510,758
83,006
8,871
T otal week 1910.. 315,030
710.532
Since Jan . I 1910. .5,230,966 16,945,970 15,805,702 11,824,251 1074,135 310,833
608,040 1,090,511
46,864
5,000
671,517
Week 1909............. 214,466
Since J a n . 1 1909.- 1,453,517 18,821,256 22,782,519 14,234,028 3182,655 260,132
* Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
A pr . 23 1910. i
T H E C H R O N IC L E
1113
The exports from the several seaboard ports for the week
ending April 16 1910 are shown in the annexed statement:
near-by shipment. Although the recent downward revisions
brought prices as a rule to a basis much below parity with
Rye, Harley, Peas,
Oats,
Wheat,
Corn, Flour,
raw material costs, and therefore, according to sellers, fully
bush.
Exports from —
bush.
bush.
bush.
bush.
bush.
bbls.
1,118 discount a possible decline in the staple, and notwithstanding
7,839
New Y o rk ............. 110,325 380,713 57,103
4,408
P o rtland, Me
the firmer tendency lately of some lines which had been so
120,000
2,000
B o s to n _____
9,000
00,900
128,572 25,110
reduced, most buyers appear unconvinced of the stability
84,000
Philadelphia .
03,000
9,000 12,000
of current prices and seem to think there is likelihood of
B altim ore___
175,142
New Orleans .
5,050
29,792
securing more favorable terms later on, their attitude being
G alveston___
18,000 12,024
based on expectations that the staple will sooner or later
Mobile.............
17,000 11,750
N orfolk...........
3,428
fall below, say, 12c. The Government’s action in starting
10,000
S t. John, N. B
53,000
272,000
an investigation into the alleged bull-pool in the cotton
4,408
7,839 109,000
1,313
T otal week___ 049,589
758,219 182,131
market evidently served to increase the apprehension of
......... 35,205
21,495
8,297
Week 1909.......... 708,201
872,900 142,849
cotton goods buyers as to what may happen in the market
The destination of these exports for the week and since for raw material, and they are more than ever disposed to
July 1 1909 is as below:
await developments. Prices of cotton piece goods showed
-Wheat-Corn-Floursome irregularity, owing to scattered offerings of small lots
Since
Since
Since
Week
July 1
Week
July l
Week
July 1 for prompt delivery at concessions by certain mills having
1909. Apr. 16.
1909. Apr. 10.
1909. stocks on hand; it is noteworthy, however, that manufac
Exports for week and Apr. 16.
bush.
bush.
bbls.
bbls.
bush.
since July 1 to —
bush.
507,085 47,415,459
351,590 9 ,499,210 turers quite uniformly declined contracts at figures quoted
U nited K ingdom __ 81,974 4,192,475
121,571 22,205,017
C o n tin en t_________ 22,101 1,593,540
339,759 13 470,103
on such shipments. A significant development of the week
20,933
320,453
Sou. & Cent. A m er. 10,775 077,922
4,940
030,098
was the decision of North Carolina mill interests, representing
...........
4,090
West Indies______ 30,010 1,159,093
01,009 1 ,778,301
581
95,298
B rit. Nor. Am. Cols.
48,170
nearly one million spindles, to curtail production from May
O ther Countries----- 30,030 204,191
IT . I I I
148,084
""*849
20,533
to September, and to urge other Southern manufacturers to
T o ta l..................... 182,131 7,980,525
049,589 70,093,703
758,219 25,459,015
do likewise. Among jobbing houses trading in seasonable
Total 1908-09...........142,849 8,510,238
708,201 95,834,159 872,900 28,300,553
lines, notably wash goods, was somewhat more active,
The world's shipments of wheat and corn for the week retailers being in the market and operating conservatively
ending April 16 1910 and since July 1 1909 and 1908 are shown on goods available for prompt delivery to meet actual
in the following:
needs; as for some time past there was little anticipating in
any quarter. The announcement in the latter part of the
week that the Tefft-Weller Co., one of the oldest and largest
Exports.
wholesale dry goods concerns in this city, had decided to
1908-09.
1908-09.
reorganize, is taken as reflecting the falling off in dry goods
Week
Since
Since
Week
Since
Since
trade generally during the past few months, due to wellApril 10.
July 1.
July 1.
April 10.
July 1.
July 1.
known causes; according to an official statement, “positive
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
assurances are given that the assets of the concern are
N orth Amer. 1.823.000
140,313,700 854.000 24.880.000 28,082,400
R u ssia n ___ 4.328.000
55.024.000 179.000 14.008.000 10.431.500 largely in excess of its debts and that all bills will be paid as
D anublan . .
400.000
29.984.000 089.000 18.849.000 22.005.500
A rgentine . . 1.984.000
00,000 00,009,000 44.383.500 they mature.” In dress goods markets dulness was about
92.401.000
A ustralian... 1.200.000
28.090.000
the only feature of the week; men’s wear agents received
O th. countr’s 570.000
14.782.000
more numerous duplicate orders on some fall lines, but the
T o t a l ___ 10311000 123,218,000 307,203,700 1,782,000 117,872,000 110,902,900 market as a whole remained quiet.
DOMESTIC COTTON GOODS.—The exports of cotton
The quantity of wheat and corn afloat for Europe on dates goods
from this port for the week ending April 16 were 5,632
mentioned was as follows:
packages, valued at $330,313, their destination being to the
points specified in the tables below:
Wheat.
Corn.
United
Kingdom.
Bushels.
April
April
April
April
14
7
15
10
1910. . 34.320.000
1910. _ 34.880.000
1909.. 26.100.000
1908.. 30,080,000
r
Total .
United
Kingdom.
Bushels.
Bushels.
15.120.000
15,000,000
16.480.000
21.080.000
49.440.000
50.480.000
42.880.000
51.700.000
Continent.
Continent.
Total.
Bushels.
Bushels.
1.530.000
1.190.000
2.550.000
2.720.000
Bushels.
2.805.000 4.335.000
2.720.000 3.910.000
3.910.000 6.460.000
3.315.000 6.035.000
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports April 16 1910, was as follows:
AM ERICAN
G RA IN
Wheat,
bush.
Corn,
bush.
633,000
New Y o rk ................... .
80,000
B o s to n ____ _____ __ -..
P h ila d e lp h ia _______ .
70,000
B altim ore............... ...... .
020,000
New O rleans............... .
17,000
G alveston............. ........ 155,000
B u ffalo.......................... - 1,451,000
Toledo . . . .................... .
346,000
D e tro it................. ..........
405,000
Chicago........................ .. 1,647,000
M ilw aukee.................... .
370,000
D u lu th ............... .......... . 8,154,000
M inneapolis________ .10,431,000
St. LOUls........................ 921,000
K ansas C ity------------- . 2,330, 00
P eo ria.......................... .
10,000
Indianapolis................. .
293,000
On L akes...................... . 1,538,000
989,000
136,000
15,000
885,000
112,000
10,000
3,000
250,000
195,000
5,548,000
833,000
STOCKS.
Oats,
bush.
840,000
5,000
70,000
291,000
112,000
180,000
530,000
2,349,000
79,000
488,000
100,000
100,000
124,000
40,000
1.705,000
033,000
3,043,000
1,178,000
244,000
415,000
208,000
73,000
820,000
T otal April 10 1910. .29,495,000 12,774,000
Total April 9 1910 .29,211,000 13,114,000
5,051,000
Total April 17 1909. .32,628,000
CANADIAN G RA IN
9,973,000
10,018,000
8,910,000
STOCKS.
M ontreal___
F ort William
__ .
Port A r th u r .. . .
O ther C anadian __
.
.
-
Wheat,
bush.
Corn,
bush.
Oats,
bush.
84,000
2,005,000
1,009,000
4,411,000
1,398^000
32,000
286,000
T otal April 16 1910. . 9,627.000
Total April 9 1910. -10,187,000
Total April 17 1909 - 9,050,000
Wheat,
bush.
32,000
30,000
30,000
SUMMARY,
S in ce
J a n . 1.
-1 9 0 9 W eek .
S in ce
J a n . 1.
. 530
45
- 156
.1 ,2 0 5
. 371
808
477
2,738
2,237
4.131
1,415
8 ,3 3 5
433
2,389
15,306
12,656
52
1,410
16
99
525
136
346
461
4 9 ,0 8 0
5,486
10,925
3,634
12,597
468
4,561
14,755
5,502
T o ta l ...............................................................-5
5,632
,6 3 2
50,925
2 ,3 5 0
107,818
.2 ,5 3 8
A r a b ia .
A frica .
44
62
6
Barley,
bush.
50.000
57.000
101,000
Rye,
bush.
Barley,
bush.
American .................... .29,495,000
-C an ad ian ...................... . 9,027,000
12,774,000
32,000
9,973,000
280,000
595,000
3,230,000
50.000
Total April 10 1910.-39,122,000
T otal April 9 1010.-39,398,000
T otal April 19 1909.-41,078,000
Total April 18 1908..30,732,000
T otal April 20 1907.-51,987,000
T otal April 21 1900. .43,943,000
Totul April 22 1905.-30,417,000
12,800,000
13.474.000
5.031.000
5.822.000
10.367.000
7,074,000
11.092.000
10.259.000
10.384.000
9.001.000
10.880.000
9.940.000
18.190.000
14.071.000
595.000
007.000
522.000
450.000
1.230.000
1.896.000
1.180.000
3.280.000
3.130.000
3.287.000
3.025.000
2.070.000
2.822.000
1,983,000
T H E DRY GOODS TR A D E .
N e w Y o r k , F r i d a y N i g h t , A p r i l 22 1910.
H Primary textile markets continued quiet and fairly steady
during the week. In the cotton goods division the volume
of new business was comparatively light and such orders as
came forward were mostly for moderate lots for quick or
G re a t B r it a in ___________
W eek .
The value of these New York exports since Jan. 1 has been
$3,894,900 in 1910, against 5,772,365 in 1909.
4,000
220,000
Trading in domestic cottons continued light in volume,
5,000
with orders confined mostly to small lots for immediate ship
52,000
ment, and for such goods buyers generally did not hesitate
to pay prices asked. Bleached goods, denims, tickings and
42,000
brown cottons were taken in moderate quantities. Colored
9.000
5.000
cottons ruled dull in most quarters and staple prints moved
17.000
slowly, but a fairly good demand was in evidence for ging
31.000
74,000
hams. Jobbers reported better sales of fine and fancy
175.000
814.000
281.000 1,214,000
0,000 105.000 cottons, but first hands complained of quietness except on
certain lines. Drills and sheetings were in fair request and
15,000
were generally steadier, although some houses continued to
offer odd lots at concessions. In the export division further
business was put through for China account, amounting to
595.000 3,236,000
about 2,500 bales of sheetings and drills at prices understood
007.000 3,079,000
522.000 3,170,000
to be somewhat lower than a week or so ago; buyers appear
ready to operate wherever any weak spots develop, but
Rye,
Barley,
continue to resist advances. A good trade in sheetings was
bush.
bush.
- .........
50,000 reported for shipment to Manila, and business with miscel
laneous ports was fair. Print cloths remained quiet and
unchanged.
Rye,
bush.
280,000
310,000
145,000
Corn.
bush.
N ew Y ork to A p r i l 16—
WOOLEN GOODS.—Duplicate orders on fall lines of
men's wear were received in better volume during the week.
The call from clothiers for carded woolens was well main
tained; in fact, the larger portion of repeat orders was on
goods of this kind. In some quarters a substantial increase
was reported in the commitments on fancy worsteds for fall
delivery. Trade in the men’s wear market generally, how
ever, continued more or less irregular and spotty. Dress
goods displayed little life; some re-orders came forward on
certain fall staples, but advance business has not yet come
up to expectations of the majority of distributers.
FOREIGN DRY GOODS.— In common with domestic
fabrics, imported woolens and worsteds were quiet, buyers
showing little interest even in spot goods offered at conces
sions. The call for linens, especially housekeeping lines, for
quick shipment was active, but buyers showed more conser
vatism in operating for the future. Spot burlaps ruled fairly
active and unchanged in price; the reported decision of
Calcutta mills to curtail production to the extent of one day
a week from September to February imparted a firmer tone
to prices for future delivery.
T H E C H R O N IC LE
1114
S W £
CITY S t e r m WEWT.
N ew s Item s.
Maryland.—B i d s A s k e d f o r S t a t e ’s H o ld in g s o f B a n k S t o c k .
— According to Baltimore papers, it has been decided to re
ceive bids, to be opened on June 6, for the State’s holdings of
1,054 shares (par value $25) of stock in the Easton National
Bank of Easton, Md.
Mississippi.— L eg isla tu re A d j o u r n s . —The Legislature of
this State adjourned on April 16. As stated in V. 90, p. 796,
the proposed Income Tax Amendment was ratified at this
session.
New York City.— P r o p o s e d Ch a rter A m e n d m e n t R e la t i n g
to I s s u a n c e o f Re ven u e B o n d s . —Comptroller Prendergast has
had introduced into the Legislature an amendment to the
Charter (Assembly Bill No. 1S92), which provides for the
use of new titles and phraseology in the description of socalled “revenue,” or short-time, bonds of the city, which, it
is said, will more nearly describe the transaction involved
in the issue of these short-time bonds.
I t h a s b ee n th e p ra c tic e to Issue th e se b o n d s In a n tic ip a tio n of th e c o lle c
tio n of ta x e s fo r th e p u rp o s e of p a y in g th e c i ty ’s c u r r e n t o b lig a tio n s . F i
n a n c ie rs h a v e c ritic iz e d th e te rm “ re v e n u e b o n d s ” a s a m isn o m e r. T h e
b ill re fe rre d to a lte r s th e te rm “ re v e n u e b o n d s ” to re a d : “ C e rtitlc a te s of I n
d e b te d n e s s o r o th e r e v id e n c e s of In d e b te d n e s s w h ich sh a ll be te r m e d
'r e v e n u e b o n d s ,’ ‘re v e n u e b ills ,’ o r be k n o w n by su c h o th e r n a m e a s m a y be
a p p r o v e d b y th e C o m p tro lle r, a n d w h ich s h a ll be I n 's u c h fo rm a s m a y b e
d e s ig n a te d b y th e C o m p tr o lle r.”
I t Is th e in te n tio n of th e C o m p tro lle r to call th e se s e c u ritie s b y somed is tin c tiv e n a m e . In o rd e r to co n fo rm to th e s ta n d a r d s of b a n k e rs b o th h e re
a n d a b r o a d , a n d It Is th o u g h t th e effec t w ill be to en la rg e th e m a rk e t fo r
th e c i t y ’s issues.
New York State.— R e so lu tio n E n d o r s i n g In c o m e T a x
A m e n d m e n t D efea ted i n H o u s e . —The Murray resolution rati
fying the proposed Income Tax Amendment to the Federal
Constitution was defeated in the Assembly on April 20. The
vote stood 74 “for” to 66 “against,” 2 votes less than the
required two-thirds majority. Ten members were absent, and
it is said that at least half of these have expressed themselves
as being in favor of the resolution. A motion to reconsider
the vote and have that motion lie on the table was adopted
by a vote of 87 to 16. It is expected that the resolution will
be called up again when there is a sufficient number of votes
present to pass it.
Oakland, Cal.—C o m m itte e A p p o i n t e d to C o n s i d e r P u r c h a s e
o f W a t e r P l a n t . —According to San Francisco papers, the
City Council on April 13 appointed a committee to consider
the option recently secured from the People’s Water Co. of
Oakland, under which the city may purchase the company’s
plant at $16,600,000.
U n d e r th e p ro p o s itio n a s re p o r te d , th e c ity is to rece iv e th e e n tir e $ 2 ,
0 0 0 ,0 0 0 p re fe rre d s to c k a n d $ 8 ,0 0 0 ,4 0 0 of th e $ 1 8 ,0 0 0 ,0 0 0 co m m o n s to c k .
F o r th e tw o lo ts o f s to c k th u s a c q u ire d , $ 1 ,5 0 0 ,0 0 0 w ill be p a id , b u t th e
c ity w ill also a s s u m e $ 1 5 ,1 0 0 ,0 0 0 In o u ts ta n d in g b o n d s a n d In d e b te d n e s s.
I n o rd e r to ta k e a d v a n ta g e of th e w a te r c o m p a n y ’s o ile r. It will be n e c e ss a ry ,
I t Is s a id , to fo rm a w a te r d is tr ic t w ith a t le a s t th re e of th e m u n ic ip a litie s
o f th e c o u n ty In c lu d e d . W ith in th e te r r ito r y s e rv e d b y th e w a te r c o m p a n y
a re O a k la n d , B e rk e le y , A la m e d a , R ic h m o n d , P in o le , S a n P a b lo , S a n
L e a n d ro a n d se v e ra l sm a lle r to w n s .
At the same meeting (April 13) Council also discussed the
question of maintaining the present water rates for two yeai’s.
I n c o n s id e ra tio n for th is th e w a te r c o m p a n y w ill a g re e to c o m p le te th e
S a n P a b lo d a m , $350,000 b ein g s p e n t b y th e c o m p a n y th is y e a r, $8 5 0 ,0 0 0
In 1911 a n d $ 1 ,0 0 0 ,0 0 0 In 1912. T h e d a m , w h en c o m p le te d , w ill be c a p a
ble of d e liv e rin g In to th e c ity a d a lly w a te r s u p p ly of 8 ,0 0 0 ,0 0 0 g allo n s. I t
Is m u tu a lly a g re e d th a t s u its w h ich a re c o s tin g th e c ity $40,000 a y e a r
sh a ll b e d ism issed a n d t h a t th e w a te r c o m p a n y s h a ll p u rc h a s e M ossw ood
P a r k fo r th e c ity a n d p a y It a b o n u s of $200,000.
[V O L. L X X X X .
Allegheny County (P. O. Pittsburgh), Pa.—B o n d O f f e r i n g ,
— Proposals will be received until 12 m. April 28 by R. .1.
Cunningham, County Comptroller, for the $300,000 4%
coupon poor farm bonds that were offered but not sold on
April 12. V. 90, p. 1055.
D e n o m in a tio n $ 1 ,0 0 0 . I n te r e s t s e m i-a n n u a lly a t th e C o m p tro lle r’s
office. M a tu rity F e b . 1 1930. B o n d s 'a r c e x e m p t fro m ta x a tio n . C e rti
fied ch eck fo r $ 5 ,0 0 0 , p a y a b le to th e C o u n ty C o m m issio n ers. Is r e q u ir e d , i
B o n d S a l e . —The $1,000,000 4% coupon road bonds men
tioned in V. 90, p. 796, were recently disposed of to the
Sinking Fund Commission.
Altus, Jackson County, Okla.— B o n d s N o t S o l d . - —No sale
was made on April 11, we are informed, of the three issues of
bonds, aggregating $200,000, described in V. 90, p. 864.
Our informant further states that these bonds arc the ones
awarded in January (V. 90, p. 572) to Kirby, Mayfield & Co.,
contractors, in payment for work done, but they having
failed to furnish bond, the securities were re-offered for sale.
Antelope School District, Los Angeles County, Cal.— B o n d
O ffer in g .— Proposals will be received until 2 p. m. April 25
by the County Supervisor (P. O. Los Angeles) for $2,500
\ y 2% bonds. Denomination $250. Maturity $250 yearly
from 1911 to 1920 inclusive.
Ashland County (P. O. Ashland), Ohio.— B o n d S a l e . — On
April 16 the $11,500 mill-dam-removal and the $40,000
Jerome Fork River improvement 4 y % coupon bonds
described in V. 90, p. 1055, were sold, the former issue to
the First National Bank of Ashland for $11,610 (100.956)
and the latter issue to the Farmers’ Bank of Ashland at
101.375. Purchasers to pay accrued interest. Maturity
part of each issue every six months from May 1 1911 to
May 1 1915 inclusive.
Ashtabula County (P. O. Jefferson), Ohio.— B o n d s A w a r d e d
i n P a r t . — Of the three issues of 4j^% coupon road-improve
ment bonds offered on April 19, and described in V. 90,
p. 1055, $24,000 Orwell township bonds and $22,000 New
Lyme and Rome townships bonds were awarded, it is stated,
to C. E. Denison & Co. of Cleveland.
No award was apparently made of the $12,000 Colebrook
Township bonds offered on the same day.
Athens School District (P. 0 . Athens), Athens County,
Ohio.—B o n d S a l e — The $30,000 4% coupon school-building
bonds offered on April 15 (V. 90, p. 996) were disposed of
as follows: $28,000 to C. L. Poston at par, $1,500 to T. A.
Copeland at 100.13 and $500 to Leota B. Morris at 101.
The successful bidders are all residents of Athens. There
were no other bidders.
M a tu r ity $500 ea ch six m o n th s fro m M arch 1 1915 to S e p t. 1 1924 In clu
siv e a n d $ 1,000 e a c h six m o n th s fro m M arch 1 1925 to S e p t. 1 1934 In clu siv e.
A ttleb oro, M a ss. — T e m p o r a r y L o a n . —A loan of $20,000,
due in seven months, has been negotiated with F. S. Moseley
& Co. of Boston at 3.99% discount.
B aker C ity, B aker C ounty, O re.— B o n d S a l e . — An issue of
$25,000 5% water and sewer bonds was awarded on April 4
to Woodin, McNear & Moore of Chicago at 102.50. De
nomination $1,000. Interest semi-annual.
B allston Spa, Saratoga C ounty, N. Y.— B o n d O f fe r i n g .—
Proposals will be received until May 2 for the $17,900 street
bonds at not exceeding 5% interest, voted on April 8. V. 90,
p. 1056.
M a tu r ity o n M ay 1 as follow s: $ 1,000 In 1915, $ 1 ,0 0 0 in 1931, $900 In
1932 a n d $1,000 y e a rly fro m 1933 to 1947 In clu siv e. E d w a rd G lu h e rty Is
V illage T re a s u re r.
No action was taken on this second proposition.
B altim ore, M d.— S tock O f fe r in g . — Further details are at
Oklahoma.—F u t u r e B o n d I s su e s to B e A p p r o v e d b y B o n d
hand relative to the offering on May 23 of the $2,400,000 4%
C o m m i s s i o n e r . — On March 24 the Legislature passed an Act
which we give in full below, making the Attorney-General registered city stock mentioned in V. 90, p. 1056. Proposals
ex-officio Bond Commissioner and requiring his approval of will be received until 12 m. on that day by John M. Littig,
President Board of Finance Commissioners. The securities
all future issues of municipal bonds.
answer the following description:
A n A c t fo r th e P r o te c tio n , V a lid a tio n a n d S ale of B ond Issu e s of th e S tatc>
C o u n tie s , T o w n sh ip s a n d .M unicipalities a n d a ll o th e r P o litic a l O rg a n iz a
tio n s a n d S u b -D iv isio n s o f th e S ta t e o f O k la h o m a .
B e It e n a c te d b y th e p eo p le of th e S ta t e of O k la h o m a :
S e c tio n 1. T h e A tto rn e y -G e n e ra l Is h e re b y m a d e ex-offlclo B o n d C om
m issio n e r of th e S ta t e of O k la h o m a .
S e c tio n 2. I t sh a ll b e th e d u ty of s u c h B o n d C om m lslso n cr to p r e p a re
u n ifo rm fo rm s a n d p re s c rib e a m e th o d of p ro c e d u re u n d e r th e la w s o f th e
S ta t e In a ll cases w h ere it Is d e s ire d to Issue p u b lic s e c u ritie s o r b o n d s . In
a n y c o u n ty , to w n s h ip , m u n ic ip a lity o r p o litic a l o r o th e r su b -d iv is io n
th e re o f of th e S ta t e of O k la h o m a ; a n d It s h a ll be th e f u r th e r d u ty of s a id
B o n d C o m m issio n er to e x a m in e In to a n d p a ss u p o n a n y s e c u rity so Issu e d ,
a n d such secu rity, when declared by the certijicate o j said B ond C om m issioner
o be issued in accordance with the Jorm s o j procedure so provided, shall be
incontestable in a n y court in the State o j Oklahom a u n le ss s u it th e re o n s h a ll
be b r o u g h t In a c o u rt h a v in g ju ris d ic tio n of th e s a m e w ith in thirty d a y s fro m
th e d a te of th e a p p ro v a l of s a id s e c u ritie s b y th e B o n d C o m m issio n er.
S e c tio n 3. N o b o n d h e re a fte r Issued by a n y p o litic a l o r m u n ic ip a l s u b
d iv isio n o f th is S ta te s h a ll b e v a lid w ith o u t th e c e rtific a te of said B o n d
C o m m issio n er.
S ectio n 4 A n em e rg e n c y Is h e re b y d e c la re d , b y re a so n w h ereo f * * * *
th is A c t sh a ll ta k e effect fro m a n d a f t e r Its p a s s a g e a n d a p p ro v a l.
A p p ro v e d M arch 24. 1910.
_
_
$500 ,0 0 0 a n n e x -Im p ro v e m e n t lo a n . T h is s to c k is p a r t of a lo a n of $ 2 ,
0 0 0 ,0 0 0 , a u th o riz e d b y C h a p te r 274, A cts of th e G e n eral A ssem
b ly of 1904, a n d electio n h eld M ay 2 1905, of w h ich $ t , . >00,000
h as a lre a d y b een Issu ed . M a tu rity J u n e 1 1954.
500.0 0 0 lire-en g in e -h o u se lo a n . T h is s to c k Is p a r t of a lo a n of $ 1 ,0 0 0 ,0 0 0
a u th o r iz e d b y C h a p te r 407 1 j of th e A cts of th e G e n eral A ssem b ly
of 1900 a n d e le c tio n h eld M ay 7 1907, of w h ich $,>09,000 h a s
a lre a d y b ee n issu ed .
M a tu rity J u n e 1 1957.
5 0 0.000 p u b llc -sc h o o l-b u lid ln g lo a n . T h is s to c k is p a r t of a lo a n of
$ 1 ,000,000 a u th o r iz e d b y C h a p te r 552, A cts of th e G en eral
A ssem b ly of 1906, a n d e le c tio n held M ay i 1907, of w h ich $ 5 0 0 ,0 0 0
h as a lr e a d y b ee n Issu ed . M a tu rity J u n e 1 1957.
350 000 u n d e rg ro u n d -c o n d u it lo a n . T h is s to c k is p a r t of a lo a n of $ 1
’
000,000 a u th o r iz e d b y C h a p te r 105, A cts of th e G e n e ra l A ssA m bly
of 190 8, a n d electio n h eld N o v . 3 1908, of w h ich $250,0C (L has
a lr e a d y b een Issu ed . M a tu rity D ee. 1 1958.
5 5 0 .0 0 0 d o ck a n d p ie r lo a n . T h is s to c k Is p a r t of a lo an of $ 1 ,0 0 0 ,0 0 0
a u th o riz e d b y C h a p te r 247, A cts of th e G en eral A ssem b ly of 1908,
a n d ele c tio n h eld N o v . 2 1909, n o n e of w h ich h a s y e t b ee n Issu ed .
M a tu rity A p ril I 1900. P u rc h a s e r to p a y a c c ru e d In te r e s t.
I n te r e s t se m i-a n n u a lly in B a ltim o re o r N ew Y o rk , a t h o ld e r’s o p tio n . a n d
b eg in s J u n e 1 1910 o n th e first fo u r m e n tio n e d issu es, a n d A pril t 1910 o n
th e la s t m e n tio n e d issue. B id m u s t be u n c o n d itio n a l a n d be m a d e o n a
b la n k fo rm fu rn is h e d by th e C ity R e g iste r. C ertifie d ch e ck o r c e rtific a te
of d e p o s it, d ra w n o n a c le a rin g -h o u se b a n k a n d m a d e p a y a b le to th e M ay o r
a n d C ity C o u n cil, o r a ca sh d e p o s it of 2 % of s to c k b id fo r, is re q u ire d .
T h e lo a n s a re all free fro m c ity a n d S ta te ta x a tio n .
There is a question in the minds of certain Chicago attor
neys as to whether the above Act is not an attempt to confer
judicial powers upon the Attorney-General in violation of
the Oklahoma Constitution.
Bastrop County Common School District No. 1, Tox.—
Santos, Sao Paulo, Brazil.— N e w L o a n . — Dispatches state B o n d s Reg is tered . — An issue of $800 5% bonds due in 10 years
that this city has arranged with Erlanger & Co. of London to was registered on March 7 by the State Comptroller.
bring out an internal loan of $5,000,000, to be offered at 97.
Bay City Independent School District (P. O. Bay City),
Matagorda County, Tex.— B o n d s R e g is tere d . — On March 14
B o n d P ro p o s a ls an d N egotiations this wed the State Comptroller registered $5,000 5% 10-40-year (op
tional) bonds of this district.
,'>&Y6 been as follows
Beaver Falls School District (P. O. Beaver Falls), Beaver
Ada County (P. O. Boise), Idaho.— B o n d S a l e . — E. II.
Rollins & Sons of Denver recently purchased $11,000 5% County, Pa.— B o n d O ffer in g . — Proposals were asked^for
10-20-year (optional) refunding bonds, dated March 1 1910, until 8 p. m. yesterday (April 22) by Edward T. Fessenden,
Secretary of the School District, for $65,000 4 j^% bonds, j
at 102.07 and interest.
A pr . 23 1010. j
THE CHRONICLE
Denomination $1,000. Date May 1 1910. Maturity on May 1 as fol
lows: $6,000 In 1915, $4,000 In 1917, $5,000 In each of the years 1919, 1921,
1923 and 1925, $3,000 In each of the years 1926 to 1930 Inclusive and $4,000
yearly from 1931 to 1935 Inclusive. The result of this ollerlng was not
known to us at the hour of going to press.
Beckley, Raleigh County, W. Va.—B o n d O f f e r i n g . — This
city is offering for sale $60,000 5 % coupon improvement and
sewer bonds.
Authority Chapter 1, Acts of 1908; Chapter 47a, Code of West Virginia,
and vote of 379 to 25 at an election held June 1909. Denomination $1,000,
Date, day of sale. Interest either annually or semi-annually at the City
Treasurer's office or In New York City, as purchaser may desire. Maturity
30 years, subject to call after 10 years. This city has no debt at present.
Assessed valuation for 1909, $1,397,890. Heal value (estimated), $3,000,000. Official circular states that there Is no litigation pending alfectlng In
any manner this Issue. Luclen II. Davis Is Mayor.
Bedford City, Bedford County, Va.—B o n d S a l e . — The
$100,000
hydro-clcctro-power-plant construction
bonds
which this city has been offering for sale were disposed of
recently in Chicago at par for 5 ^ s . This sale, however, is
conditional on the bonds being re-voted, as at the first elec
tion the issue was authorized to bear only 5 % interest.
Berea, Cuyahoga County, Ohio.— B o n d E le c t i o n . — An elec
tion will be held in this place to-day (April 23) to vote on the
question of issuing $16,000 light-plant-improvement and
$5,000 water-works-mains-extension bonds.
Bergen County (P. O. Hackensack), N. J.— B o n d S a l e .—•
The $400,000 4J ^% coupon 5-29-ycar (serial) building bonds
described in V . 90, p. 996, were awarded on April 18 to John
D. Everitt & Co. and A . 13. Leach & Co. of New York City
at 103.13 and accrued interest. The following bids were
also received:
N . W . H a ls e y & C o . , N . Y .101.28 |H . E. Hoblnson & Co., N. Y.
N . W . H a rris & Co., N . Y_ .100.8991
(for $100,000) . _________103.782
Beverly, Mass.— T e m p o r a r y L o a n . — This city has nego
tiated a loan of $75,000 with the Old Colony Trust Co. of
Boston at 3 .8 7 % discount. Maturity three months.
Birmingham, Ala,— B o n d s V o te d .— The election held
April 11 resulted in favor of the proposition to issue the
$400,000 bonds mention of which was made in V. 90, p. 865.
The vote, according to local papers, was 3,642 “ for” to 677
^against.”
Blackstone, M ass. — T e m p o r a r y L o a n . — This place has
borrowed $20,000 from the State of Massachusetts, it is
stated, at 4 % discount. Loan matures Nov. 1910.
Bloomington, McLean County, 111.— B o n d O f f e r i n g . — Pro
posals will be received until 10 a. m. April 29 by Robert
Maxton, City Comptroller, for $50,000 4 % coupon waterimprovement bonds.
Denomination $1,000. Date Nov. 1 1909. Interest semi-annually at
the City Treasurer’s office. Maturity 20 years, subject to call after Nov. 1
1919. Certltied check for 5% of amount of bid, payable to the Mayor, Is
required. Legality of Issue has been approved by Wood & Oakley of
•Chicago. These securities arc the second Installment of an Issue of $150,000
bonds, of which $50,000 were sold on Oct. 29 1909. See V. 89, p. 1235.
Blue Bench Irrigation District No. 1 (P. O. Theodore),
Wasatch County, Utah.—B o n d O f f e r i n g . — Proposals will be
received until 2 p. m . to-day (April 23) by E . W . Schonian,
Secretary of the Board of Directors, for $125,000 6 % coupon
irrigation bonds.
Denomination $100 or $500. Date "day of Issue.” Interest In June
and December at the County Treasurer’s office. Maturity part yearly
from 10 to 20 years. Honda are exempt from taxes.
Boulder, Boulder County, Colo.— B o n d S a l e . — An issue
of $16,500 6 % Improvement District No. 6 bonds offered on
April 5 was awarded to local investors at par.
Denomination $500. Date April 1 1910. Interest semi-annual. Ma
turity 1922, subject to call “whenever there Is money enough on hand to
retire any of them.”
Bradley Beach, Monmouth County, N . J.— B o n d s V o te d . —
The election held April 19 resulted in favor of the proposition
to issue the $5,000 5 % fire-house bonds mentioned in V. 90,
p. 996. The vote was 137 “ for” to 28 “ against.”
Maturity
$1,000 yearly for 5 years.
Bridgewater, Mass.— T e m p o r a r y L o a n . — C. D. Parker &
Co. of Boston have loaned this place $10,000 until Nov. 1
1910 at 3 .9 8 % discount.
Canonsburg, Washington County, P a . — B o n d
E le c t i o n . —
A proposition to issue $50,000 school bonds will be submitted
to a vote of the people to-day (April 23).
Canton, Fulton County, 111.— B o n d S a l e . — The $50,000
4 / 6 % 5-20-year (optional) coupon sewer bonds offered on
April 14 and described in V. 90, p. 996, were awarded to
N . W , Halsey & Co. of Chicago at 100.02 and blank bonds.
The ‘following bids were also received:
Harris Tr. &Sav. Bk., Chlo_a:100.063 Wm. R. Compton Bond &
Allerton, Green&ICIng, Chi *100.03
Mortgage Co., St. Louis...*100.00
John Nuvccn & Co., Chic.. 100.02 A. B. Leach & Co., Chicago..* 100.00
Thos. J. Bolgcr Co., Chic.. 100.01 Harwell Trust Co., Chicago.. *98.20
* And accrued Interest. * And blank bonds.
C arpentersville, K ane C ounty, 111.— B o n d s D e f e a e td .— An
election held April 19 resulted in the defeat of a proposition
to issue $16,000 water bonds. The vote was 70 “ for” to
103 “ against.”
Cedar R ap id s In d ep en d en t School D istr ic t (P . O. Cedar
R ap id s), L inn C ounty, I o w a .— Rond S a l e .— On April 20 the
three issues of 10-year bonds aggregating $87,000, described
m V. 90, p. 1056, were awarded to the Harris Trust &
Savings Bank of Chicago at 101.568 for 4>£s— a basisof about
4 .3 0 6 % . Following are the bids:
Harris Tr. & Sav. Bk., Chic .$88,3651Wm. R. Compton Co. St.L $87 443
Lco.M.Bechtel&Co.,Davenpt. 88,360 Seasongood & Mayer, Cin
87’ooo
Commercial Tr. &S. II.,Cldc. 87,957|
C ham paign, C ham paign C ounty, 111.— B o n d s D e f e a t e d .—
The election held April 19 resulted in the defeat of the propo
sition to issue the $35,000 bonds mentioned in V . 90, p. 997.
1115
C han u te, N eo sh o C ou n ty, K a n .— B o n d E le c t i o n . — An elec
tion will be held April 27 to vote upon a proposition to issue
$60,000 bonds.
C heyenne W ells H ig h School D istr ic t, C heyenne C ounty,
C olo.— B o n d S a l e . — This district has sold an issue of $15,000
5 % 20-30-year building bonds dated May 15 1910 to E . H .
Rollins & Sons of Denver.
C hicago J u n ctio n S ch ool D istr ic t (P . O. C hicago), H uron
C ounty, O hio.— B o n d s V o t e d .— A $45,000 school-improve
ment-bond proposition was favorably voted, according to
reports, at an election held in this district April 18.
C hicopee, H am p d en C ou n ty, M a ss.— N o t e S a l e . — The
$14,000 4 % coupon school notes described in V . 90, p. 1056,
were awarded on April 20 to Edmonds Bros, of Boston at
101.31 and accrued interest. The following bids were also
received:
Bloclgct & Co., noston
101.077] Blake Bros. & Co., B o sto n ...100.65
N*larnsworth & Co., Bos 101.03 Merrill, Oldham & Co.. B o s ..100.59
Old Colony Trust Co., B o s.. 100.879]
Maturity $1,000 yearly on Dec. 1 fromlOll to 1924 Inclusive.
C larksville, G a .— B o n d S a l e . — J. H . Hilsman & Co. of
Atlanta purchased $8,000 5 % 30-year street-improvement
bonds on April 1. Denomination $1,000. Date April 1
1910. Interest annual.
C leveland, O hio. — B o n d s A u t h o r i z e d . — An ordinance has
been passed providing for the issuance of $54,000 5 %
coupon sewer bonds.
HDenomlnatlon $1,000. Date May 1 1910. Interest semi-annually at
the American Exchange National Bank In New York City Maturity
$6,000 Nov. 1 1910 and $12,000 yearly on Nov. 1 from 1911 to 1914 In
clusive.
B o n d O f f e r i n g . — Proposals will be received until 12 m.
May 16 by H . B. Wright, City Auditor, for $52,000 and
$92,000 5 % street-improvement bonds.
Denomination $1,000. Interest from May 1 1910 semi-annually at the
American Exchange National Bank In New York City. Maturity Nov. 1
1910. Certified check on a national bank for 5% of bonds bid for, payable
to Harry L. Davis, City Treasurer, Is required. Bids must be made upon
blanks furnished by the City Auditor.
C lifton S p rin gs, O ntario C ounty, N . Y . — B o n d O f f e r i n g .—
Proposals will be received until 8 p. m. April 25 b}r C. D.
Ilill, Village Clerk, for $4,000 electric-light-plant-enlarge
ment bonds.
Denomination $500. Date July 1910. Interest (at not exceeding 5%)
payable semi-annually at the Ontario National Bank In Clifton Springs.
Maturity $500 yearly from 1915 to 1922 Inclusive.
Clover School D istr ic t (P . O. C lover), Y ork C ounty, S o.
Caro.— B o n d s V o t e d .— An election held April 18 resulted in
favor of a proposition to issue $10,000 5 % 20-year school
building bonds.
Coahom a C ounty (P . O. C larksdale), M iss.— Rond S a l e . —
The Thos. J. Bolger Co. of Chicago has purchased the
$75,000 5 % 30-ycar road and bridge bonds offered on April 4.
V . 90, p. 865. Bonds are dated May 1 1910 and interest is
payable annually in Chicago.
C on shohocken, M on tgom ery C ounty, P a .— B o n d s N o t
S o l d . — No bids were received on April 12, for the $125,000
4 % coupon street-improvement and funding bonds described
in V. 90, p. 926.
B o n d O f f e r i n g . — Proposals are again asked for these bonds
and will be received this time until April 28.
C onverse C ounty (W y o .) School D istr ic t N o . 1 .— B o n d
S a l e . — An issue of $23,000 5 %
10-25-year building bonds,
dated March 1 1910, was awarded recently to E . H . Rollins
& Sons of Denver for $23,300, the price thus being 101.304.
C orsicana, N avarro C ou n ty, T e x . — B o n d s R e g i s t e r e d .— The
$20,000 5 % sewer bonds awarded on Jan. 15 to the Dallas
Savings Bank & Trust Co. of Dallas at 102.25 and blank
bonds (V . 90, p. 318) were registered on March 9 by the
State Comptroller.
C ovin gton , T ip ton C ounty, T e n n — B o n d O f f e r i n g .— Pro
posals will be received by VV. V . Bringle, Mayor, for the
$20,000 5 % coupon street-improvement bonds voted (V 90
p. 865) on March 14.
V
’
Authority Chapter 336. Acts of 1899. Denomination $500. Date “day
of Issue.
Interest semi-annually at place designated by purchaser. Ma
turity 30 years.
_ Cu®r? ’ D e w itt C ou n ty, T e x .— B o n d S a l e . — The $17,000
5 % 15-30-year (optional) water-works-refunding bonds, regis
tered by the State Comptroller on Feb. 2 (V . 90, p. 573)
were sold during the same month to the First State Bank of
Cuero at 101.25 and accrued interest. Denomination $500.
Interest semi-annual.
C um berland C ounty (P . O. B rid g eto n ), N . J . — B o n d S a l e .
— The $10,000 4 ) ^ % coupon bridge-construction bonds
described in V . 90, p. 866, were awarded on April 21 to the
Cumberland National Bank of Bridgeton at 102.80 and ac
crued interest. Bids of 100.791 from R . M. Grant & Co.
and 100.17 from Howard K . Stokes, both of New York City,
were also received. Maturity March 10 1919.
C uyahoga C ounty (P . O. C levelan d ), O hio.— B o n d S a l e . __
On April 16 the $41,250 4 ^ % Bradley Road county’s share
improvement bonds described in V . 90, p. 997, were awarded
to Otis & Hough of Cleveland at 102.05.
A w a r d P o s t p o n e d .— The award of the $11,349 4 ^ % Brad
ley Road assessment bonds offered on the same day was
postponed.
D eca tu r, M organ C ounty, A la . — B o n d s V o te d . — We are
advised that the $25,000 5 % 30-year city-hall bonds sub
mitted to the voters on April 18 (V . 90, p. 723) were author
ized by a vote of 179 “ for” to 18 “ against” . Interest semi
annual. Date of sale not yet decided.
1116
THE CHRONICLE
D e m in g School D istr ic t (P . 0 . D e m in g ), Luna C ounty,
N . M ex. — B o n d s V o te d .— The election held April 4 resulted
in a vote of 230 “ for” to 50 “ against” the proposition to issue
the $40,000 5 % 10-20-year (optional) high-school-building
bonds mentioned in V . 90, p. 926.
E aton , P reble C ou n ty, O hio. — B o n d S a l e .— On April 11
the $5,000 4 x/ i % coupon sewer bonds described in V . 90, p.
866, were awarded to Hayden, Miller & C o . of Cleveland at
102.41.
Maturity $500 yearly on Sept. 1 from 1912 to 1921
inclusive. The following bids were received:
Hayden. Miller & C o . , Cle_$5,120 50 First Nat. Bank, Cleve___ $5,087 00
Seasongood & Mayer, Cin__ 5,116 00 Well, Roth & Co., Cln___ 5,080 00
Citizens’ Nat. Bk., Wooster 5,101 25 R. ICleyboltc Co., Inc.,Cln. 5,077 50
Davles&Bertram Co., Cln-_ 5,100 50 Eaton Nat. Bank, E aton .. 5,075 00
Otis & Hough, Cleveland.. 5,098 00 Vinton Banking Co., Vinton 5,065 00
Stacy & Braun, Toledo___ 5,095 75
El Reno, Canadian County, Okla.— B o n d s V o te d . — The
$250,000 water-works-construction bonds mentioned in
V . 90, p. 646, were, according to reports, authorized at the
election held April 5. The vote was 476 to 53.
Elsinore Union High School District, Riverside County,
Cal.— B o n d S a l e . — It is reported that the American Savings
Bank of Los Angeles was the successful bidder on March 30
for the $3,000 5 % bonds described in V . 90, p. 866. The
price paid was 105.73. Maturity $1,000 on March 9 in
each of the years 1931, 1932 and 1933.
Enid School District (P. O. Enid), Garfield County, Okla.
S a l e . — The $200,000 5 % coupon building bonds
described in V. 90, p. 1057, were awarded on April 18 to
C. Edgar Honnold at 100.20. A bid of $200,017 was also
received from John Nuveen & Co. of Chicago. Maturity
part yearly from 15 to 25 years.
Erie School District (P. O. Erie), Pa .— B o n d O f f e r i n g .—
Proposals will be received until 3 p. m . May 3 by W . J.
Elynn, Secretary Board of Education, for $145,000 4 %
coupon (with privilege of registration) school-building and
site-purchase bonds.
Authority an Act of the Assembly of April 20 1874 and its supplements.
Date Aug 11910. Denomination $1,000. Interest semi-annually in Erie.
Maturity on Aug. 1 as follows: $5,000 yearly from 1914 to 1924 inclusive
$10,000 yearly from 1925 to 1928 inclusive and $5,000 yearly from 1929
to 1988 Inclusive. Bonds are exempt from all taxes. Certified check,
certificate of deposit or cash, made payable to the Treasurer, for 1% is
required. Official circular states there is no controversy or litigation
pending or threatened aircctlng the corporate existence or the boundaries
of the district o : the title of its present officials to their respective offices:
also that there has never been any default in the payment of principal or
Interest.
Eupora, Webster County, Miss.— B o n d S a l e . — The $10,000
6 % 20-year coupon concrete-walk bonds offered on April 5
(V . 90, p. 926) were awarded to Chicago parties at 100.51.
Evanston, Cook County, 111.— B o n d s V o te d . — Reports
have it that this city recently voted to issue $35,000 munici
pal-building and $10,000 automobile-fire-engine bonds.
— Bond
Evanston (111.) Central School District No. 75.— B o n d s
V o te d . — On April 16 $28,500 bonds were voted by this dis
trict to be used for the purchase of adjoining land and for
the building thereon of an addition to the present school.
Falling River School District (P. O. Brookneal), Campbell
County, Va.— B o n d s V o te d . — An election held April 14 re
[V O L . L X X X X .
G ran tville, C ow eta C ou n ty, G a.— B o n d s V o te d . — The elec
tion held April 16 resulted in favor of the proposition to issue
the $10,000 6 % school-building bonds mentioned in V . 90,
p. 1057. The vote was 105 “ for” to 2 “ against.” Interest
annual. Maturity $500 yearly for 20 years.
G reenville, G reenville C ou n ty, S o. Caro.— B o n d s V o t e d .—
The propositions to issue the following bonds, mention of
which was made in V . 90, p. 574, were favorably voted upon
at an election held April 5: $60,000 to pay off a past in
debtedness, $200,000 to improve the streets and construct a
concrete bridge and $40,000 for the providing or extension
of sewers. The first-mentioned issue matures $12,000 yearly
for five years and the two remaining issues mature in thirty
years. Interest rate not to exceed 5 % .
G reenville, H u n t C ounty, T e x .— B o n d s R e g is te r e d . — On
April 15 the State Comptroller registered $20,000 fire-station
and $20,000 water-works 5 % 1-40-year (serial) bonds. The
former issue was voted on Feb. 28 (V . 90, p. 647) and the
latter issue was voted (V . 90, p. 998) on March 21.
H a m ilto n T ow n sh ip School D istr ic t (P . O. M ay’s L an d
in g ) , A tla n tic C ou n ty, N . J .— B o n d S a l e . — The $12,000 5 %
1-12-ycar (serial) gold coupon tax-exempt school-buildingaddition bonds, offered on April 15 (V . 90, p. 998), were sold
to Howard K . Stokes of New York City at 100.333 and
accrued interest. Interest semi-annually at the First Na
tional Bank of May's Landing.
H an n ib al School D istr ic t (P . O. H an n ib al), M arion C ou n ty,
M o.— B o n d s V o te d . — The $S0,000 school-building bonds
mentioned in V . 90, p. 867, were authorized by the voters
on April 5.
H arlow ton School D istr ic t (P . O. H a rlo w to n ), M eagher
C ounty, M on t.— B o n d S a l e . — The $23,000 6 % school-build
ing bonds voted on Feb. 14 were awarded on March 21, we
arc informed, to the Denver Savings Bank & Trust Co. of
Denver for $23,315, the price thus being 101.369.
D e n o m in a tio n $500. D a te J u ly 1 1910. I n te r e s t s e m i-a n n u a l.
t u r i t y J u ly 1 1930, s u b je c t to call a f t e r 5 y e a rs .
M a
H arris C ounty C om m on School D istr ic t N o . 17, T e x .—
B o n d s R e g i s t e r e d . — An issue of $10,000 5 %
40-year bonds
was registered on April 5 by the State Comptroller.
Harris C ounty C om m on S chool D istr ic t N o . 25, T e x .—
B o n d s R e g is te r e d . — The $16,000 5 %
school-building bonds
described in V . 90, p. 252, were registered by the State
Comptroller on March 29.
H avelock ,
L a n ca ster
C ou n ty,
N e b .— B o n d
O ffe r in g .—
Proposals will be received until 8 p. m. May 16 by C. A .
Currie, City Clerk, for the $26,000 sewer and the $50,000
water-extension 5 % coupon bonds voted (V . 90, p. 574)
on Feb. 15.
D e n o m in a tio n $500. I n te r e s t a n n u a l.
M a tu r ity 20 y e a rs , s u b je c t to
call a f t e r 5 y e a rs . C ertifie d c h e ck fo r 5 , p a y a b le to th e C ity C le rk , is
re q u ire d . T h e se b o n d s w ere o ffered o n A p ril 14' (V . 90, p . 9 9 8 ), b u t no
a w a r d w as m a d e o n t h a t d a y .
H em p h ill C ounty Com m on School D istr ic t N o . 11, T e x .—
B o n d s R e g is te r e d . — The State Comptroller registered $1,200
5 % 20-year bonds on March 26.
H ick ory, C alaw ba C o u n ty , N o . Caro.— B o n d O f f e r i n g . —
sulted in favor of a proposition to issue $15,000 school
building bonds. The vote was 92 “ for” to 68 “ against.”
Maturity 10, 15 and 20 years.
This place, we are advised, has $25,000 street-improvement
bonds for sale. W . L. Clinard is Secretary and Treasurer.
Farmdale School District, Los Angeles County, Cal.—
H id algo C ounty D rain age D istr ic t N o . 1, T e x .— B o n d s
N o t S o l d . — No award has yet been made of the $176,000 5 %
B o n d O f f e r in g . — According to reports, the County Supervisors
will receive bids until April 25 for $15,000 bonds of this dis
trict voted at a special election held March 26.
Fort Worth Improvement District No. 1 (P. O. Fort
Worth), Tex.— B o n d s R e g is te r e d . — An issue of $250,000 5 %
20-40-year (optional) bonds was registered on April 15 by
the State Comptroller.
20-40-year (optional) bonds mentioned in V . 90, p. 125.
H illsb oro, H ill C ou n ty, T e x .— B o n d s V o te d . — At the elec
tion held in this city April 2 (V . 90, p. 867), the proposition
to issue $40,000 5 % 15-40-year (optional) street-paving
bonds dated April 1 1910 carried.
H u bbard,
T rum bull
C ou n ty,
O hio.— B o n d
O f f e r in g . —
Frederick School District (P. O. Frederick), Tillman Proposals will be received until 12 m. to-day (April 23) by
County, Okla.— B o n d s V o te d . — A school bond issue amount J. E . Schofield, Village Clerk, for $1,500 and $1,832 05 5 %
ing to $25,000 was, it is stated, recently voted by this district. coupon street-improvement bonds.
$300 and $366 41. Date May 1 1910. Interest on April 1
Fremont County School District No. 1 (P. O. Lander), andDenominations
Oct. 1 in Hubbard. Maturity one bond of each issue yearly for 5 years.
Wyo .— B o n d s O ffe r e d b y B a n k e r s . — E . II. Itollins & Sons of Bonds are exempt from all taxes. Certified check for $200, payable to the
Chicago are offering to investors, at a price netting 4 .6 0 % ,
an issue of $10,000 6 % school-building bonds of this district.
Denomination $1,000. Date April 1 1910. Interest payable semi
annually in New York City. Maturity $2,000 yearly on April 1 from 1920
to 1924 Inclusive. Bonded debt, Including this Issue, $25,000. Assessed
valuation 1909, $2,210,000.
Grand Rapids, Mich.— B o n d O f f e r i n g . — Further details
are at hand relative to the offering on April 25 of the $50,000
4 % coupon rapid-sand-filtration bonds described in V. 90,
p. 1057. Proposals for these bonds will be received until
4 p. m. on that day by James Schriver, City Clerk. These
securities are part of the issue of $395,000 bonds voted
(V . 90, p. 998) on April 4.
Denomination $1,000. Date April 15 1910 Interest semi-annually
at the City Treasurer’s office. Maturity April 15 1930. Bonds are exempt
from all general taxation. An unconditional certified check for 3% of
bonds bid for. made payable to the City Treasurer, is required. Official
circular states that the city has never defaulted on the payment of any
bonds at maturity; also that there is no question as to the legality of the
proposed bonds, the corporate existence of the city or the titles of the pres
ent officials to their respective offices.
Grand R ap id s, W ood C ou n ty, W is . — B o n d S a l e N o t C o n
s u m m a t e d — B o n d O f f e r i n g .— The sale of the $20,000 water,
$30,000 funding and $15,000 street 4 ) ^ % coupon bonds to
W . A. Mason & Co. of Chicago (V . 90, p. 460) was never
consummated. W e are informed that the City Council re
considered their action, accepting Mason & Co.'s bid and
later rejected it. The bonds arc now being offered for sale.
C. E . Boles is City Clerk.
Village Clerk, Is required.
valuation $265,000.
Bonded debt Apr. 6 1910, $2,600.
Assessed
H u d son C ou n ty (P . O. J e r se y C ity), N . J .— B o n d O f f e r in g .
— Proposals will be received until 3 p. m. May 5 (not May 4,
as reported in V . 90, p. 1057) by the Board of Chosen Free
holders, Walter O ’ Mara, Clerk, for the following 4>^%
coupon (with privilege of registration) bonds:
$150,000 Newark Plank Road Improvement bonds. Authority, Chapter 38,
Laws of 1906. Maturity 50 years.
500.000 court-house-construction bonds. Authority, Chapter 47. Laws
of 1901 and the Acts amendatory thereof and supplemental
thereto. Maturity 40 years.
150.000 boulevard repair bonds. Authority, Chapter 69, Laws of 1908.
Maturity 30 years.
100.000 Newark Plank Road bridge bonds. Authority, Chapter 163,
Laws of 1878 and the various supplements thereto and amend
ments thereof. Maturity 20 years.
All the above bonds are to be Issued under the further authority of Chap
ter 19, Laws of 1908. Date May 1 1910. Interest semi-annual. Tiic le
gality of the $150,000 Newark Plank Road Improvement bonds will be ap
proved by Dillon, Thomson & Ciay of New York City, and the legality of
the remaining Issues will have the approval of Hawkins, Delafleld & Long
fellow of New York City, copies of whose opinions will be furnished to the
purchaser. A bank or certified check for 1% of bid, drawn on sonic na
tional bank or trust company, and made payable to htephen M. Egan,
County Collector, is required.
T h e o f f ic i a l n o tic e o f t h i s b o n d o f fe r i n g w i ll be f o u n d a m o n g
th e a d v e r ti s e m e n ts e ls e w h e r e i n t h i s D e p a r t m e n t .
Ib erv ille P arish School D istr ic t N o . 1 (P . O. P la q u em in e),
h a . — B o n d O f f e r i n g . — Proposals will be received until 10:30
A ph . 23 1910.]
THE CHRONICLE
a. m. April 25 by the Bond Committee for $60,000 5 % coupon
school-building bonds:
Authority, Act 281 of 1898 and Act 300 of 1904. Denomination $1,000.
Date April 1 1910. Interest semi-annual. Maturity $5,000 yearly for
4 years, $(>,000 In the fifth year, $7,000 yearly from 6 to 9 years and $6,000
m the 10th year. Certified check for $1,200 Is required. L. E. Messlck Is
lOOt^over $1 600^000°* ^oar<^' Total debt, tills Issue. Assessed valuation
Inman, McPherson County, Kan.— B o n d s V o te d . — An elec
tion held April 12 resulted in favor of a proposition to issue
$5,000 water-works extension bonds. The vote was 50 “ for”
to 23 “ against.”
.Jacksboro, Tex. —
Bonds
R e g i s t e r e d .— The
troller registered $27,500 5 %
works bonds on March 30.
State Comp
10-40-ycar (optional) water
Jackson County (P. O. Brownstown), Ind.— B o n d s
Au
t h o r i z e d .— An ordinance providing for the issuance of $65,000
5 % bonds for the purpose of improving and remodeling the
court-house has been passed by the County Council. Interest
semi-annual. Bonds to be retired in equal annual install
ments within 20 years from Jan. 1 1911.
Jackson County (P. O. Altus), Okla,— B o n d S a l e . — The
$100,000 5 % coupon court-house and jail-construction bonds
offered on April 15 and described in V . 90, p. 867, have been
purchased by the II. C. Speer & Sons Co. of Chicago. The
bonds are included among the various issues which that
company is now offering to investors. See advertisement on
a subsequent page.
Jackson Township, Seneca County, Ohio.—B o n d s
V o te d .—
The voters of this township on April 13 authorized the issu
ance, it is stated, of $50,000 pike bonds. The vote was
99 “ for” to 73 “ against.”
r r /a mSOnVo e ' Cherokee County, Tex.—B o n d s
R e g i s t e r e d .—
The State Comptroller on Mar. 30 registered $8,000 5 %
10-30-year (optional) water-works bonds.
. Jamestown, Kans.— B o n d s
A w a r d e d i n P a r t — B o n d O ffe r -
1117
L ip scom b C ounty (P . O. L ip sco m b ), T e x .— B o n d s P r o
p o s e d .— I he question of issuing $50,000 court-house-and-jail
bonds is being agitated.
L ip scom b C ounty Com m on School D istr ic t N o . 1, T e x .—
B o n d s R e g i s t e r e d .— We are informed that $3,000 5 %
5-20year (optional) bonds were registered by the State Comp
troller on March 30.
L ock h art, C aldw ell C ou n ty, T e x . — B o n d s V o te d .— The
election held April 12 resulted in favor of the proposition to
issue the $1 o,000 5 % 5-40-year (optional) city-hall bonds
mentioned in V . 90, p. 868. The vote was 118 “ for” to 15
against.
L o n g m o n t School D istr ic t (P . O. L o n g m o n t), Boulder
C ounty, Colo. B o n d s P r o p o s e d . — Papers report that the
Board of Education will ask the district to issue $25,000
bonds for an addition to the high school.
L orain, L orain C ou n ty, O hio.— Ronds N o t S o l d . — The
only bid received on April 9 for the $50,000 4 % 20-year
water-works bonds described in V . 90, p. 927, was one of
par made by Weil, Roth & Co. of Cincinnati. This offer
was rejected.
L os N ie to s
School D istr ic t,
C al.— B o n d
E l e c t i o n . — On
April 2o an election will be held in this district to vote on the
question of issuing $12,000 bonds.
L o w ell,
M a ss. — T e m p o r a r y
L o a n . — Loring,
Tolman
&
\ T PnCn nLBOfStQ °oo^r.raWard.ed T April 20 a temporary loan
of $100,000 at 3 .0 2 % discount. Loan matures N ov. 25 1910
L ucas C ounty (P . O. T o led o ), O hio.— B o n d O f f e r in g . —
Proposals will be received until 10 a. m . April 26 by Chas
J. Sanzcnbacher, County Auditor, for $22,000 4 E % roadimprovement bonds.
/z /0
Authority Act passed April 14 1900, 94 Ohio Laws; page 96 General
Code, Sections 0026-6929. Denomination $500. D ate1“day of Issue ”
Interest semi-annually at the County Treasurer’s office In Toledo
turlty $2,500 yearly from 1910 to 1913 Inclusive and $2,000 yeariy from
required 1919 ’ncluslve’ Ccrtlflcd check 011 a bank in Toledo for $500 Is
01 an issue ol $20,000 5 % 10-20-year (optional) water
and light bonds offered on April 18, $8,000 were sold to
Julius Christenson of Jamestown at 101.50 and accrued in
terest. Proposals for the remaining $12,000 bonds will be
received until May 2. Denomination $1,000. Date Jan. 1
1910. Interest semi-annual.
M acom b, M cD onough C ounty, 111.— B o n d s V o te d .— At an
election held recently the question of issuing $40,000 4 i^ %
water-works bonds was favorably voted upon. Maturity
part yearly from 1915 to 1930 inclusive.
Jefferson County (P. O. Steubenville), Ohio.— B o n d O ffe r
i n g . — Proposals will be received until 12 m. April 25 by the
M cP herson School D istrict (P . O. M cP h erson ), M cP her
son C ou n ty, K a n . — B o n d s V o te d . — An election held April 5
tn g .
County Auditor for $11,500 4 ) ^ % coupon Bloomfield &
Western Free Turnpike Road bonds.
A u th o r it y T itle V I I , C h a p te r V I I , R ev ise d S ta t u te s , 4808
D en n m i
n a tio n $500. D a te A p ril 25 1910
I n te r e s t s e m i-a n n u a lly a t th e c X y
T r e a s u r e r ’s o ffice. M a tu rity on S e p t. 1 a s follow s: $500 In e a c h o f th o
y e a rs 1912, 1914, 1915, 1917, 1918, 1920, 1921, 1922, 1923 1925 1926
a n d 1927, $1,000 In 1928, $500 In 1929, $500 In 1930, fi.OOO In 1931 S500
In 1932 $ 1 , 0 0 0 In 1933 a n d $1,000 hi 1934. C ertified c h e ck fo r 5% o f
a m o u n t b id , p a y a b le to th e R o a d C o m m issio n ers, Is re q u ire d .
Johnson City, Washington County, Tenn.—
B o n d O f f e r in g .
Attention is called to the official advertisement elsewhere
in this department of the offering on May 5 of the $375,000
o '/o 30-year coupon water-works bonds.
For other details
of bonds and terms of offering see V . 90, p. 926.
Key West, Fla.—B o n d s V o te d .— The election held April 12
resulted in favor of the proposition to issue the $192,000 5 %
30-ycar street-improvement bonds mentioned in V 90 n
648. The vote was 646 “ for” .to 55 “ against.”
Kissimmee, Osceola County, Fla.— Rids R e j e c t e d .— We
are advised that all bids received on April 5 for the $43,000
b ™ J £ ;d water" w? rks and sewerage bonds described in V .9 0 ,
p. 8 )7 , v cic rejected,
th e bonds will be re-advertised
for sale.
. ^ o w le s School District, Eddy County, N . Mex.—B o n d s
\ xr {c ()f J crc<l S h o r t l y .— I his district proposes to issue bonds.
VVc are informed that they are now in the hands of lawyers
who are preparing the advertisement of the same.
Lansingburgh Union Free School District No. 1 (P. O
Troy), N. Y .— B o n d S a l e . — The $85,000 4 y 2 % gold coupon
or registered school-building bonds described in Y. 90 p
1058, were awarded on April 19 to N. W . Harris & C o . of
New York at 103.189 and accrued interest. The following
bids were also received:
Bumpus-Stcvcns Co., D ct-.102.55 IW. N. Color & Co., N. Y
101257
Park 1nson & Burr, Boston .102.461 Parson, Son & Co., Chicago. 101 .1 7
o. l Ir . , Denison &A rtCo., uBoston.102.129
u a tu ii.
I
Maturity $o,000 yearly on May 1 from 1925 to 1941 Inclusive.
L a w ren ce, M a ss.— T e m p o r a r y L o a n . — On April 21 this
town awarded a loan of $100,000, due Nov. 3 1910, to F. S.
Moseley A: Co. of Boston at 3.98% discount.
L eech b u rg School D istr ic t (P . O. L eech b u rg ), A rm stron g
C o u n ty , P a . B o n d s l o te d . An election held April 16 re
sulted in favor of a proposition to issue $20,000 4 JG% bonds.
I he vote was 161 “ for to 97 against.”
resulted in favor of a proposition to issue $40,000 4 1 4 %
school-building bonds. The vote was 502 “ for” to 336
against.”
Maturity 20 years, subject to call after 10 years.
M ald en , M a ss.— D e s c r i p t io n o f B o n d s . — The two issues of
4 % bonds awarded on April 5 to Geo. A . Fernald & Co. of
Boston (V . 90, p. 999) answer the following description:
!wvbn,Craark* b01! ds duc, Nov- 1 1934. Price paid 105.09.
,0 °1914 f f i s f v c . 8 race paTd $100002°07yearly ^ N° V‘ 1 fl° m 1910 t0
Denomination $1,000. Date Nov. i 1909. Interest semi-annual.
M arshall C ounty (P . O. P ly m o u th ), I n d .— N o t e s N o t
S o l d . — Hie $15,000 notes offered on April 8 (V . 90, p. 648)
failed to attract any bidders. W e are informed that the
notes have been withdrawn from the market.
M arshall C ounty (P . O. W arren), M inn.— B o n d S a l e — The
$176,000 5 % coupon ditch bonds described in V . 90, p. 927
were awarded on April 5 to the Minnesota Loan & TrustCo'
of Minneapolis at 100.127. The following bids were receivedMinnesota Loan & Trust
union Investment Co.,Min
Co., M inneapolis______ $176,225
neapolis------------------- .$176,000
McCoy & Co., Chicago
176,220
Trust Co., St. Paul 176,000
Thos. J. Bolger Co., Chicago 176,205 Security
Kane
& Co., Minneapolis.. . 176,000
Wells & Dickey, Minnean. . 176,000 1
«i
°in JfuIy 1 ,as foIl°'vs: $2,600 yearly from 1911 to 19)4 inclusive
to 21020 inclusive?1” 1 1 5 t0 1920 lncluslvc and $10,000 yearly from 1921
M ediapolis In d ep en d en t School D istr ic t (P . O. M ediap oli3), D e s M oines C ounty, Iowa,.—B o n d s V o te d .— [T his
district has voted to issue $11,500 bonds. Details of secu ri
ties not yet determined.
M id d letow n , Orange C ounty, N . Y . — B o n d s P r o p o s e d —
This city proposes to issue $75,000 4 % 20-year refunding
water bonds.
M id d letow n , D au p h in C ounty, P a .— B o n d s N o t S o l d . —
An issue of $43,000 4 % bonds was offered without success
on March 21.
M iles C ity, C uster C ounty, M o n t.— B o n d s V o te d .— A re
cent election is reported to have resulted in favor of a pro
position to issue $250,000 general-improvement bonds.
M ilford, S ew ard C ounty, N e b .— B o n d s N o t S o l d . — No
award has yet been made of the $13,000 5 % 5-20-year
(optional) water bonds offered on March 21. As stated in
V . 90, p. 320, these bonds were voted on Jan. 18
De
nomination $100. Date March 3 1910. Interest annual.
M oberly,
R andolph
C ounty,
M o.— B o n d s
V o te d . — The
Le M oyne School D istr ic t (P . O. Le M oyn e), Cum berland
C ounty, P a .— B o n d s N o t S o l d . — We are advised that no bids
voters of this place on April 5 authorized the issuance ac
cording to reports, of $12,000-park-improvement bonds.
were received for the $10,000 4% coupon school-building
bonds offered on April 15 and described in V. 90, p . 798.
M oberly School D istr ic t (P . O. M ob erly), R andolph
C ounty, M o. — B o n d s V o te d . — An issue of $20,000 school
L im a School D istr ic t (P . O. L im a), A llen C ounty, O hio.__
building bonds was, it is stated, favorably voted at an elec
tion held April 5.
will be received until 12 m
" P ri* 26 by I. J- Miller, Clerk of School Board, for $10,000
° /o Grand Ave. School addition bonds.
Bond
O f f e r i n g . — Proposals
Date\T?.vtirioie^tl0V t3904 Devised Statutes. Denomination $1,000
t h p A i n ° °; Interest semi-annually at the office of the Treasurer of
Inclusive01 wm I - , MvaU,,rlt7 «b °°° yearly on May 1 from 1911 to 1920
hint i«*t i»£ert fled c,u;ck for 2% of the bonds bid for, drawn on anv
n2r#or on a Pat*onal bank outside of that city, and made navable
to the City Treasurer. Is required. Purchaser to pay accrued Interest
M odesto Irrigation D istrict (P . O. M o d esto ), C al.— B o n d s
Voted.— This district has voted to issue $200,000 foothillreservoir-construction bonds.
M ontcalm C ounty (P . O. S ta n to n ), M ich.— B o n d O f f e r in g .
— Proposals will be received until 2 p . m . April 28 by W G
Abbott, County Clerk, for $43,000 4 % coupon court-house
1118
THE CHRONICLE
[V O L . L X X X X .
B o n d s O ffe r e d b y B a n k e r s . — Moffat & White of this city
and jail-building bonds. Authority election hold April 4
are offering to investors $1,000,000 of the above bonds at
1910.
Denomination five bonds of $7,000 each and one bond of 58.000. Date 106.50 and interest. See advertisement on a preceding page.
April 28 1910.
Interest payable June 30 and Dec. 30 at the Fourth
Niles, Trumbull County, Okla.— B o n d S a l e . — An issue of
National Bank In New York City. Maturity $7,000 yearly on Dec. 30 from
1911 to 1915 Inclusive and $8,000 Dec. 30 1916. Certified check for l /o of $5,000 4 j/^% coupon sewage-disposal-plant bonds was
bonds bid for, payable to Benjamin Gofflcld. County Treasurer Is re awarded on April 14 to Breed & Harrison of Cincinnati at
quired. Bonded debt, this Issue. Assessed valuation 1909, $11,472,855.
104.07. The following bids were also received:
Morrill County (P . O. Bridgeport), N eb.— B o n d S a l e . — The Seasongood & Mayer, CInc.$5,188 501 Hayden, Miller & Co.,Clcv.$5,146 00
S I5,000 4 j ^ % court-house bonds offered without success on Security Sav. ATr.Co.,Tol. 5,165 00 Silas McMahon, VVarren
a. 142 o0
Nat. Bank, Cleveland 5,154 001Dollar Sav. Bank Co., Niles o ,110 00
N ov. 20 1909 (V . 89, p. 1555) have been awarded, it is First
Denomination $500. Date April 1 1910. Interest semi-annua ly at the
stated, to the Lincoln Safe Deposit & Trust Co. at par.
City Treasurer’s office. Maturity part In each of the years 1914, 19lo,
M t. Calm School District (P. O. M t. Calm), Hill County, 1922, 1926 and 1927.
Norfolk, V a .— B o n d s A u t h o r i z e d . — An ordinance providing
T ex .__ B o n d s V o te d . — This district, we are informed, has
for the issuance of $12,000 improvement bonds was recently
voted to issue 810,000 school bonds.
signed by the Mayor of this city.
M t. Kisco, Westchester County, N . Y .— B i d s R e je c te d —
Odin, Watonwan County, Minn.— B o n d O f f e r i n g . — Pro
B o n d O f f e r i n g . — All bids received on April 6 for the $48,300
registered Main Street improvement bonds described in j posals will be received until 8 p. m . to-day (April 23), for
v f 90, p. 927, were rejected. Proposals for these bonds are $3,000 6 % village-hall and jail bonds.
Interest annual. Maturity 10 years. O. A. Kabruck Is Village Recorder.
now asked for until 8 p. m. April 2 / .
1 . G. Carpenter is
Ogallala School District (P . O. Ogallala), Keith County,
Village Clerk.
M t. Vernon School District (P. O. M t. Vernon), W e st N eb.— B o n d s V o te d . — B y a vote of 77 to 5, the electors of
chester County, N . Y . — B o n d S a l e . — On April 18 the $ 7 7,700 this district on April 2 authorized the issuance of $22,000 5 %
4 iA % registered school bonds described in V. 90, p. 1059, 10-20-year (serial) school-house bonds.
Okfuskee County (P. O. Okemah), Okla.— B o n d s O ffe r e d
were sold to Adams & Co. of New York City at 105.55 and
b y B a n k e r s . — Am ong the municipal bond issues being offered
accrued interest. The following bids were received:
Adams & Co., New York. $82,012 85 IN. W. Halsey & Co., N.Y.$80,870 00 to investors by II. C. Speer & Co. of Chicago (see advertise
\ B Leach & Co., N. Y. 81,200 00; VV. N. Coler & Co., N. It . 80,82o 00 m ent on a subsequent page) is an issue of $100,000 5 % bridge
n ’. \V. Harris A Co., N .Y . 81,119 001R. M. Grant _& Co., N. Y- 80,769 1.)
bonds of this county.
* Maturity part yearly on May 2 from 1953 to 1956 Inclusive.
Denomination $1,000. Date March 1 1910. Interest semi-annually In
Muskegon, Mich.— B o n d s V o te d . — An election held April 4 New York. Maturity March 1 1930. Total debt, including this Issue,
resulted in favor of a proposition to issue $7,500 municipal $119,000. Assessed valuation 1009, $6,317,991. Real value (estimated)
$10,000,000.
lighting-plant bonds. The City Recorder informs us that
Ontario County (P. O. Canandaigua), N . Y .— B o n d S a l e . —
the present contract with the lighting company expires
June 1 1911. He adds that if satisfactory terms can be re The $74,000 4 ) 4 % road-improvement bonds described in
arranged with the local concerns, the city will not build a V . 90, p. 870, were awarded on April 15 to Isaac W . Sherrill
of Poughkeepsie. Bids were also received from N . W . Har
plant.
,
ris & Co. of New York and James McCall of Bath.
New Lexington, Perry County, Ohio.— B o n d s A u t h o r i z e d .
Maturity on April 1 as follows: $3,000 In 1919, $25,000 In each of the
— Reports have it that this village on April 11 passed an years 1920 and 1921 and $21,000 In 1922.
Ontario School District, San Bernardino County, Cal.—
ordinance authorizing the issuance of paving (village s por
B o n d O f f e r i n g . — Proposals will be received until 11 a. m.
tion) bonds.
Newman, Douglas County, 111.— B o n d S a l e — An issue of April 25 by the Board of Supervisors (P. O. San Bernardino)
$28,000 paving bonds has been taken by the Illinois Cement for $25,000 5 % gold school bonds.
Authority vote of 378 to 45 at election held March 21. Denomination
Construction Co. of Springfield.
$1,000. Interest semi-annually at the County Treasurer’s office. Ma
$1,000 yearly from 16 to 40 years. Certified check for 5% of the
Newport, R . I . — L o a n O f f e r i n g . — Proposals will be re turity
amount of the bid, payable to the Chairman of the Board of Supervisors,
ceived by the City Treasurer until 5 p. m. April 28, it is Is required. Official advertisement states that there Is no controversy
or litigation pending aflectlng the validity of the bonds. Charles Post Is
stated, for a loan of $40,000, due Sept. 6 1910.
County Clerk of ex-offlclo Clerk of the Board of Supervisors
New Wilmington School District (P. O. New Wilm ington),
Orland School District, Glenn County, Cal.— B o n d S a l e . —
Lawrence County, P a.— B o n d S a l e . — The $15,000 4 J^% The $27,000 6 % school-house bonds offered on April 11
10-24-year (serial) school-building bonds mentioned in V . 89, (V . 90, p. 1000) were awarded to N . W . Halsey & Co. of
p 1687, have been purchased by the Washington Investment San Francisco at 112.21. Ten other bids were also received,
Co. In c., of Pittsburgh. The securities were disposed of on ranging in prices from $27,500 to $30,296 70.
April 12 and brought $15,050 or 100.333
Oroville, Butte County, Cal.— B o n d s V o te d . — An election
Denomination $500. Date May 1 1910. Bonds are tax-exempt. Total
debt, this issue. Assessed valuation 1909, $302,000. Real valuation held March 31 resulted in a vote of 439 to 95 in favor of a
proposition to issue $120,000 5 % sewer-construction bonds.
(estimated), $600,000.
New York State.— B o n d S a l e . — The issue of $5,000,000 Maturity part yearly on July 15. Date of offering not yet
4 % 50-year gold coupon or registered highway-improvement determined.
<
bonds offered on April 20 (V . 90, p. 928) was over-subscribed
Osceola School District No. 19 (P . O, Osceola), Polk
more than five times. Thirty-one separate bids were received County, N eb.— B o n d s N e t S o l d . — Up to April 11 no award
of which seventeen were successful. The average price at had yet been made of the $25,000 4j/o % school bonds
which the bonds were sold was 105.376481— a basis of about offered on March 24 and described in Y . 90, p. 800.
3 .7 6 1 % . The bonds were awarded as follows:
Palestine, Anderson County, T e x .— B o n d s R e g is te r e d . —
$50,000.-106.475
Westchester Co.Nat. f $50,000.-109.15
The State Comptroller on April 16 registered the $18,000
60.000.
-106.391
Bank, Peeksklll-.j 25,000.. 107.15
50.000.
-106.064
( 25,000.-105.95
4 ) 4 % fire-station bonds sold on Jan. 31 (V . 90, p. 462) to
50.000.
-106.063
E. A. Heller.............
15,000.-108.63
Weil, Roth & Co. of Cincinnati at par.
-105.892
Dodge & Co.,| 50.000.
Stephen Sanford---- 100,000.-108.50 Clark,
50.000.
-105.776
New York........... {
Paris, Lamar County, T ex .— D e s c r i p t io n o f B o n d s . — Tho
50.000--105.66l
10.000. .108.50
50.000.
-105.537
$85,000 4 A % bonds which this city expects to place on the
10.000. -108.25
Security Trust Co.
50.000. .105.394 market sometime in April (V . 90, p. 650) are in denomina
10.000. -108
Rochester ------50.000.
-105.275
10.000. . 107.75
tions of $1,000 and are dated May 10 1910. They will be
10.000. -107.50 Walter G. Nelson___ 20,000.-106.33
issued for the following purposes: $60,000 for street-im
f 250,000.-106.06
5.000. -107.56
5.000. -107.31 Moffat & White,New! 250,000.. 105.56
provements, $20,000 for water-works and $5,000 for public
5.000. -107.05 York ____
I 250,000.-105.06
buildings.
. ,
l 250,000.-104.56
5.000- -106.81
Authontv election held Feb. 24 1910; also .Sections 84 and 85 of the City
5.000. -106.68 Seasongood A Mayer. 200,000.. 106.05
Tobey & Kirk New!
Charter.
Interest
Feb.
10
and
Aug.
10
at
the
Fourth
National
Bank In
5.000- -106.56 Fisher Beull_______ 10,000.-105.65
Y ork..........
New York City. Maturity May 10 I960, subject to call after May 10 1920.
5.000. -106.43 Windsor Trust Co.,j 50,000.. 105.26
5.000. -106.31 New York______ 1 100,000.. 104.25
Park Creek Irrigation District, Larimer County, Colo.—
5.000. .105.61
B o n d S a l e . — The $72,000 6 % bonds mention of which was
5.000. -105.56 National Commcrc’lj 100,000.-105.05
Bank,
Albany
.--1
100,000.-104.46
made in V. 89, p. 1688, have been sold, it is stated, to the
Nat. City Bank, Troy 50.000. .107
Manhattan Com- / 500,000.-101.30
The First Nat. Bank,
City Bank & Trust Co. of Denver.
pany..........- ___ l 500,000.. 104.20
Cooperstown------ 20,000 .106.81
Payette School District (P . O. Payette), Canyon County,
City Bank.l
f 100.000. -106.505National
100.000. -106.455 N. Y.. and N. W.) *535,000.-104.193 Idaho.— B o n d s V o t e d — On April 2 an issue of $12,000
100.000. -106.378 Harris &Co.,N.Y.j
school-building bonds was authorized by a vote of 215 to 57.
Emigrant Industrial 100.000. -106.275
Savings Bank,New • 100.000. -106.225
Peoria, Peoria County, 111.— B o n d s V o te d . — An election
100.000.
-106.113
York...............
100,000--106.015
held here April 5 resulted in favor of a proposition to issue
100.000. -105.932
* Bid for all or any part of Issue at $250,000 4 % bridge bonds. The vote was 3,507 “ for” to
100.000. .105.826
100.000. -105.672this price
2,5 72 “ against.”
Maturity part yearly from 1911 to 1930
inclusive. Bonds will be offered about July 1.
The other bids received were as follows
Philadelphia, P a .— L o a n O f f e r i n g . — Further details arc at
Manhattan Com- J $500,000.-104.10 E. Meyer Jr_______ $50,000.-102.50
pany_- - - - - __ 500,000.-104
Lawrence Barnum &fAll or none. 102.277 hand relative to the offering on May 16 of the $8,000,000
f 500,000. .104.06
Co., New York__\Any part-.100.01
coupon or registered certificates mentioned in V . 90, p. 1059.
| 500,000--103.56
f $50,000.-102.125
Moffat & White, | 500,000.-103.06 Adams & Co., N. Y.( 50,000.-101.625 Proposals will be received until 12 m . on that day by John
New York............ \ 500.000 - - 102.06
I. 100.000..101.25
E . Reyburn, Mayor.
^
_
11,000,000.-101.06
Denominations $100 or multiples th creof, to suit the purchaser. Interest
3,000.-102
(1,000,000.-100.16 Henry W. Hits..........
(rate
not
to
exceed
4%)
payable
semi-annually
a
t
the
office
of
the
fiscal
Bros. & Co.,
People’s Nat. Bank,l
5,000.-103.875 Blake
agent of Philadelphia. Maturity 30 years. Bonds are free from all taxes
New York.............. 500,000.-101.44
HoosIckFalls, N. Y. /
and will be delivered on or before May 18 1910. Bid must be made on a
P. J. Doyle, Owego..
2,000.-101
blank form furnished by the Mayor and bo accompanied by a certified
Windsor Trust Co.,f
J03-73 State Bank, Boliver. 10,000.-101
check or certiilcatc of deposit for 5% of the loan bid for. made payable’to
New Y ork_____j 100,000--103.03 Wm. Holmes_______ 25,000.-101
l 100,000.-102.58 W. C. Lobensteln__ 25,000.-100.75
tho Mayor.
JohnT. Cronin.......... 10,000.-100.50
First National Bank, f 10,000.-103
Piercefield, St. Lawrence County, N . Y .— B o n d S a l e . — The
Hudson_______ { 10,000.-102.75 North & Co., Unadllia 10,000.-100
successful and only bid received on April 20 for the $10,000
(. 10,000. .102.50
A
pr
.
23 1910.]
THE CHRONICLE
l-5-year (serial) coupon highway bonds described in
V . 90, p. 928, was one of par and accrued interest, submitted
by the St. Lawrence County National Bank of Canton.
Plainfield, N . J .— P u r c h a s e o r E r e c t i o n o f W a t e r P l a n t . —
Newark papers state that the citizens of Plainfield, by a
vote of 1,236 “ for” to 318 “ against,” have authorized
Common Council to purchase by condemnation the water
plant of the city, erect a new plant or make another contract
with the Union Water Co., a private corporation.”
Plainview, Pierce County, N eb.— B o n d O f f e r in g . — Propos
als will be received until 12 m . April 25 by C. W . Lee, City
Clerk, for $8,900 6 % electric-light bonds.
Denomination $100. Date April 1 1910. Interest semi-annual. Ma
turity 20 years, subject to call after 5 years. Certified check for 5% of
boli^3., lsLrc<lulreii- These bonds were offered for sale on April 4 (V. 90,
p. “ *i) but all bids received on that day were rejected.
Pleasant Township, Van W ert County, Ohio.— B o n d S a l e .
— On April 18 $50,000 4 % road bonds were awarded to the
People's Savings Bank of Van Wert at par.
Portland, M e.— T e m p o r a r y L o a n . — A loan of $150,000 was
negotiated on April 22 with George Mixter of Boston at
4 .0 2 % discount. Maturity Oct. 1 1910.
Portland, Ore.— B o n d O f f e r i n g . — Proposals will be re
ceived until 2 p. m . May 23 by A . L . Barbur, City Auditor,
for the $1,000,000 4 % gold water bonds mentioned in V 90
p . 1000.
’
„,«™tih0irI1ty an amendment to the City Charter adopted June 3 1907, as
amended by an Act adopted June 7 1909. Denominations $1,000 or $500
J,°nds win be dated (first) $250,000 June 1 1910, $250,000 Aug. 1 l9 i o ‘
{250,000 Sept. 1 1910 and $250,000 Nov. 1 1910; or (second), $500 000
June 1 1910 and $500,000 Sept. 1 1910. Interest semi-annually at the City
treasurer s office In Portland or In New York City. Bidders are requested
hnndJ)IHit 8c.parat? or alternate bids based upon the denomination1of the
bonds, the place of payment and the dates of the bonds, as Indicated bv the
two foregoing classifications. Maturity twenty-five years. Certified check
Z y o ^ Cisba» e d . ° rtland f0r 5% 0f bonds b*d ^ r f made payable to the
B o n d O f f e r in g P o s t p o n e d . — The offering of the $ 2 :0 ,0 0 0
gold bridge-construction bonds which was to have taken
place April 11 (V . 90, p. 727), was postponed until May 23.
Portland School District No. 1 (P. O. Portland), Multno
mah County, Ore.— N o A c t i o n Y e t T a k e n T o w a r d s I s s u a n c e
o f B o n d s . — W e are advised under date of April 12 that the
date of the offering of the $350,000 4J ^ % coupon high-school
building bonds mentioned in V . 90, p. 57G, has not as yet
been set.
Providence, R. I . — B o n d S a l e . — Ordinances have been
passed by the City Council providing that $400,000 sewer
and $375,000 hospital 3 } 4 % gold bonds be issued to the Board
of Sinking Fund Commissioners at par. Mention of this sale
was made in V. 90, p. 871. Date May 2 1910. Interest
semi-annually at the City Treasurer’s office. Maturity
May 2 1940.
*
Pulaski County Drainage District No. 1, A rk.— B o n d s O f
f er e d b y B a n k e r s . — De Celle, Nelson & Co. of Chicago are
offering to investors $40,000 6 % 10-29-year (serial) bonds.
Denomination $500. Date Feb. 15 1910. Interest annually
at the Commercial National Bank in Chicago.
Punta Gorda. De Soto County, Fla,— B o n d s N o t S o l d . —
No award has yet been made of the $7,500 public-dock and
$4,000 electric-light and water-works 6 % gold bonds de
scribed in V . 90, p. 800.
Racine, W is .— B o n d S a l e . — On April 18 $50,000 4 K %
street-improvement bonds were awarded to Emery Peck &
Rock wood of Chicago.
’
Bonds are dated April 1 1910. Interest semi-annual. Maturity $2 000
1920 lnc,uslve and *3’000 y“
n® i°?
Ravenna, Ohio.— B o n d O f f e r i n g . — Proposals will be re
ceived until 12 m. April 25 by E . W . Marvin, Village Clerk,
for $9,000 4 ) ^ % street-improvement and intersection bonds!
Authority Section 2865, Revised Statutes. Denomination $500. Date
May 1 1910. Interest semi-annually at the Second National Bank of
Ravenna. Maturity $1,000 each six months from March 1 1911 to March 1
1915 Inclusive. ill woiLuicu
Certified4- r~\uiicch
check
for#»a*cuu,
$200,
payable
to tne
thel . —Village
r-*v
. iui
uuytiuic
village
Treasurer
lH r p f l 111
•*A Vi ft n
%n
a «h i
In
l . ------_i _
«■•
.
w required. TPurchaser
to *■pay
accrued
Interest. mThe
bonds will
be®
delivered within five days from the time of award.
Redlands High School District, San Bernardino County,
Cal.— B o n d O f f e r i n g . — Proposals will be received until 11
a. in. April 25 by the Board of Supervisors (P. O. San Ber
nardino) for the $85,000 5 % gold school-bonds voted on
March 5 (V . 90, p. 800).
T r ^ r r ' r 1^ * 1,0i5°; E at« April 4 1910. Interest annually at County
and *5 000 lnKinV-i “ e ^ , 5' , 54,'000 yearly from 1915 to 1934 Inclusive
the ChAlrman nf9?iL
for 5% o t amount of bid, payable to
ment stated that t h e r e ?^ n 'i,°^ llnervIsor8> 18 squired. Official advertlsevaUdltv of these bonds
% “ R ation pending affecting the
of the Board of Supervisors
P° St ‘8 County C,erk and ^-officio Clerk
1119
Riverton School District N o. 25 (P. O. Riverton), Fremont
County, W y o . B o n d S a l e . — The $14,000 coupon building
bonds offered on Jan. 12 (V . 89, p. 1688) were disposed of
recently to E . I I . Rollins & Sons of Denver as 5 } A s . Date
May 1 1910. Maturity $1,400 yearly on Jan. 1 from 1916 to
1925 inclusive; total issue subject to call Jan. 1 1916.
Rosedale School District (P. O. Rosedale), W yandotte
County, K an.— B o n d s V o te d . — At an election held in this
district on April 5 a proposition to issue $27,000 school-site
and building bonds carried.
St. Johns, Multnomah County, O r e . — B o n d S a l e . — This
place has awarded $28,870 6 % street-improvement bonds to
the First National Bank of St. Johns at par and accrued
interest.
tt uu rri nt y^ N
N o^v v. ^1 ^1 S9 1l 9f ,s sSubb ij ee cPt A
t o ^c ^a ll. r o- n 1a n1y9 ?I n9 t-e r eI snt t-epraeysitn gs edma it -ea na fntue ar l .1 y eMa ar .
St. Lucie County (P. O. Fort Pierce), F la .— B o n d S a l e —
The $200,000 5 % road bonds described in V . 90, p 650 were
awarded at par on April 4 $150,000 to the Atlantic National
Bank of Jacksonville and $50,000 to the Bank of Fort Pierce.
St. Petersburg Hillsboro County, F l a . - B o n d s O ffe r e d b y
B a n k e r s . — De Celle, Nelson & Co. of Chicago are offering to
investors $30,000 5 % 20-30-year (optional) school bonds
Ihese securities were sold last September to the New First
National Bank of Columbus. As reported in V . 89, p. 951
however, the award was subsequently rescinded. ’
’
Denomination $ 1 ,0 0 0 . Date April 1 1910. Interest seml-annuallv a t
the Central Trust Co. of Illinois in Chicago or at the City Treasurer’s offloe
in oc. I'etersDurg.
*
Salem, Mass .— T e m p o r a r y L o a n . — A loan of $50,000 due
Oct. 17 1910 has been negotiated with the Old Colony Trust
Co. of Boston at 4 .0 5 % discount. A list of the bids received
follows:
Old Colonjr Trust Co., Boston^.05% 'IF. S. Moseley & Co.. B o s t o n ^ ! 2%
Blake Bros. & Co., Boston— 4.06% Lorlng, Tolman & Tupper Bos 4 18%
Bond & Goodwin, B o s to n ....4 07%]Merchants’ Nat. Bk., Salem _4 !40 %
, A t 1™ ' P ° lumbia?.a c °u n ty, Ohio.— B o n d S a l e . — On" April
15 the $4,000 refunding and $3,170 improvement 4 K % bonds
mentioned in V . 90, p. 1060, were sold, the former issue to
beasongood & Mayer of Cincinnati at 103.61 and the latter
issue to the Farmers’ National Bank of Salem at par and
accrued interest. A bid of $7,227 for both issues was also
received from the First National Bank of Cleveland.
Sa7UnU/r (P ' ° - Station> Lynn), Essex County, M ass.—
O f f e r i n g — Proposals will be received until 7 p m
B ond
i
f° ! S25’ 000 4 % school-house bonds,”
dated May 1 1910 and maturing part yearly from May 1 1911
to May 1 1935 inclusive.
Schuyler, Colfax County, N eb.— B o n d s V o te d .— The elec
tion held here recently resulted in favor of the proposition to
issue the $12,000 school-building bonds mentioned ?n V 90
p. 577.
‘
*
Seattle, W a sh .— B o n d S a le — The $65,000 5 % 20-year
Bafiard funding bonds refused by Otis & Hough of Cleveland
(V . 90, p. 322) have been re-awarded, we are informed, to
E . H . Rollins & Sons of Denver. Bonds are dated Mav 1
1910. The price paid was 104.20 and interest.
Sbe,lb^ B o l i v ar County, M iss.— Bond Sale.— On April 5
the SHO’ OOO 6 % coupon school-building bonds described in
at 101 P' 871 ’ WGre awarded to the Citizens’ Bank of Shelby
f ?J o ennnitry/ / S rant
N - M . - B o n d S a l e . - A n issue
i®5 9 i000 5 j ^ % sewer bonds was awarded on March 23 to
Ulen, Sutherlin & Co. of Chicago.
. « j tr i ’r o r x 5 ; ^
ia m n
«*.,
Orange, N . 3 . — B o n d S a l e . — The three issues of
«uuPon (with privilege of registration) bonds described
m o n ! 0 ’/ ' *°°in’o ^ ere dlsPosed of on April 18 as follows:
f m '1 2 0, dU V ,n i n l 5’ ,awarded to J - S - RiPPel of Newark at
•
1 0V<vm ann
ae ln 1935» and J2>028 69, due $1,000
in 1930 and $1,028 69 in 1935, awarded to the Water Sink
ing I und Commissioners at 103.50. The other bidders were:
I A W A & ft
BIS.* B Leach6A^Co00])}’
South Orange Township School District (P. 6 . South
Orange), Essex County, N . J .— B o n d S a l e . — The $170,000
4 % coupon building bonds described in V . 90, p. 1060 were
sold on April 18 to A . B. Leach & Co. of New York City at
par and accrued interest. Maturity part yearly on Jan. 1
from 1918 to 1931 inclusive.
Spencer, M ass.— T e m p o r a r y L o a n — This town has bor
Rensselaer, Rensselaer County, N . Y .— B o n d S a l e — The
rowed $20,000 from the Worcester County Institution for
$3,000 4 ) ^ % registered monument bonds described in V . 90
. 1060, were awarded on April 18 to W . N . Coler & Co. of Savings at 4 % discount. Loan is dated April 13 1910 and
ew York City for $3,001, the price thus being 100.033. A matures N ov. 2 1910.
bid of par was also received from the Rensselaer County Bank
Springfield, Clark County, Ohio.— B o n d O f f e r i n g . __ Pro
of Rensselaer. Maturity $1,000 on Sept. 1 in each of the posals will be received until 8 p. m . April 26 by W m . H Ma
years 1912, 1913 and 1914.
honey, City Clerk, for $17,697 34 4J ^ % coupon (city's share)
J
1
Richland (Town) and Richland Center (City) Joint School street-improvement bonds.
District No. 2, W is .— B o n d O f f e r i n g .— Proposals will be re
Denomination $1,000, except one bond of $697 34. Date Anrll 15 lain
Interest on March 1 and Sept. 1 at the City Treasurer’s offi^PrUiJr«tT,V.iA;
ceived until 2 p. m. April 28 by T . M. Brewer, Clerk (P. O. $10,000
on March 1 1931 and $7,697 34 on k f ^ i ^ l
c m ifle d ffi^
for 5%'of bonds bid for Is required.
v,ercinea.cnecic
tK>m/an<^ ^ enter) por an *ssue ° f
high-school-building
Stamford, Conn.— B o n d O f f e r i n g . — Proposals will be re
Section 475, as amended by Chapter 172, Laws of 1905; also
tnt«!?A0fu
-n,nnua 1 school meeting held Oct. 5 1909. Date Feb. 1 1910° ceived until 2 p . m . May 10 by Frank B . Gurley, Town Treas
A deno^lt nf
‘ . Maturity $4,000 yearly on Feb. 1 until 1925 Inclusive! urer, for $220,000 4 % gold school bonds.
*60 ooo 4
d ,la required. Total bonded debt. Including this Issue,
has never n
i do?u ” >00°- Official circular states that the district
Denomination $1(000. Date June 1 1910, Interest spmi-A.nnimiivr n+
has never defaulted In the payment of any obligation
‘
the Bank of the Manhattan Co,In New York Clt* . u S t J I S r j K S T f 940?
&
[V O L . L X X X X .
THE CHRONICLE
1130
n , i ml111t ,u.
on
. form
T u lsa,andO kla.—
furnished by the Town Treasurer
be ac- B o n d s N o t S o l d . — No award has yet been
made of the $180,000 5 % 20-year coupon bonds offered on
April 1 and described in V . 90, p. 872.
T h e o f f i c i a l n o tic e o f t h is b o n d o f fe r i n g w i l l be f o u n d a m o n g
th e a d v e r t i s e m e n t s e ls e w h e r e i n t h is D e p a r t m e n t .
S ta n to n Sch ool D istr ic t N o . 3 (P . O. S ta n to n ), S tan ton
C ou n ty, N e b .— B o n d s D e f e a t e d .— k n election held April 2! re
sultedin the defeat of a proposition to issue $15,000 building
bonds.
S terlin g C ounty (P . O. S terlin g C ity ), T e x .— Bonds Voted.
__ On April 7 the voters approved the issuance ol $1U,UUU
jail and $16,000 road-improvement bonds.
S to n e w a ll C ounty (P . O. A sp erm o n t), T e x .— Bonds R e
g is te r e d .— The State Comptroller on March 30 registered the
$30,000 4 % 10-40-year (optional) road and bridge bonds
mentioned in V . 90, p. 256.
S tu ttg a r t Sew er D istr ic t N o . 1 (P . O. S tu ttg a r t), A rk an sas
C ou n ty, A r k . — B o n d O f f e r i n g . — Further details are at hand
relative to the offering on April 25 of the $ 2 7 , 0 0 0 6% ^coupon
sewer-construction bonds mentioned in V. 90, p. 1060. i roposals will be received until 9 a. m. on that day by Robert
B. Gregg, Secretary Board of Public Improvement.
Denomination $1,000. Interest Is Payable at the Banh: of CommercHn
CerU^^check fo r m C payable t o » e ^ ® w r t ^ l 8
Thte dis
trict has no debt at present. Assessed valuation for 190» $joo,ouo.
T exark an a, T e x .— Bonds D e f e a t e d .— A proposed bond
issue for the maintenance of a Carnegie Library was defeated
on April 5.
.
T rin ity School D istr ic t (P . O. T rin ity ), T rin ity C ou n ty,
T e x . — B o n d s V o te d .— A proposition to issue $15,000 school
building bonds carried at an election held April 16.
T rum bull C ounty R oad D istr ic t N o . 1, O hio.— Bond S a l e . —
On April 18 the $25,000 5 % coupon road b o n d s d^cribed
in V 90 p 1061, were awarded to the Tillotson & W olcott
Co of Cleveland at 113.875 and accrued interest. A list ot
the bids received follows:
Tillotson & Wolcott Co.,
Cleveland
_____ $28,468 7o
Union Nat. Bank) Warren 28,000 00
SeaaonBood 4 ^ er, cm c..5?M70
Hayden, Miller & Co., Clev._ 27,300
Otis & Hough, Cleveland----- 27,010
Western-German Bk., Cine-- 26,i«u
$5)000 sep t: 1
___________
1934.
U n io n C ity, C am pbell C ou n ty, G a .— B o n d s V o te d .— Atlan
ta papers report a favorable vote on the $20,000 improvement
bonds submitted on April 9.
U n iv e r sity P la ce Sch ool D istr ic t (P . O. U n iv e r sity P la c e ),
L a n ca ster C ou n ty, N e b .— P r o t e s t A g a i n s t B o n d I s s u e . — Ac
cording to the Omaha “ Bee” of April 17, a number of resi
dents of this district have protested to the State Auditor
against recording $50,000 school bonds recently voted, i t
is alleged that the petition calling for the election was not
signed by a sufficient number of electors. It is also claimect
that the district is already bonded up to 1 0 % of its valuatio n.
U tic a , N . Y .— B o n d S a l e . — On April 20 W . N . Coler & Co.
of New York City purchased $22,876 38 4 ^ % 1-6-year (ser
ial) paving bonds at par and accrued interest.
V andalia Sch ool D istr ic t (P . O. V a n d a lia ), F a y e tte
C ounty, 111.— B o n d s V o t e d . — It is reported that on April 15
a proposition to issue $30,000 school-addition bonds carried
by a majority of 2 votes.
V en ed ocia, V an W ert C ou n ty, O hio.— B o n d s V o t e d — A t
an election held in this place April 13, a proposition to issu e
$10,000 road bonds was authorized, according to reports,
by a vote of 33 to 11.
V ernon, W ilbarger C ounty, T e x . — B o n d s V o te d . — On
April 5 the voters authorized the issuance of water-works
and school-house bonds.
V ictoria School D istr ic t (P . O. V icto ria ), V ictoria C ou n ty ,
T e x . __ B o n d s V o te d . — On April 5 the electors of this district
approved the issuance of $10,000 building bonds.
W ab ash , W ab ash C ou n ty, I n d .— B o n d O f f e r in g . — Propos
als will be received until 7:30 p. m . April 25 by W in. L .
Agan, City Clerk, for $30,000 4 % coupon refunding bonds.
d e b t J a n . 1 1 0 1 0 , 5 2 4 .0 0 0 ; I lo a tW e d e b t . S 1 3 .8 S 5 : a s M M e d v a l u a t i o n 1 9 0 » ,
______________
$ 4 ,5 2 4 ,8 2 0 .
NEW LOANS.
NEW LOANS
NOTICE OF SALE OF
$
9
H U D S O N
0
0
, 0
0
0
$ 3 7 5 ,0 0 0
C O U N T Y ,
N.
J.,
CITY OF JOHNSON CITY, TENNESSEE,
BONDS
By virtue of four separate resolutions of the B o a r d “ fOhosen Freehold™ of
W A TE R W O R K S B O N D S
THE BOARD OF MAYOR AND ALDER
MEN of the City of Johnson CltywlU ln sa ld
rltv on THURSDAY, MAY 5TH, 1010, at
7 : 3 0 o’clock p. m., receive sea^a blds for the
held in the Court House, Jersey City, N . J., on
purchase ot three hundred and seventy- lve (375)
water-works bonds ot said city, bearing date of
June 1st, 1910, and maturing June ist, 1940.
T h u r s d a y ,
M a y
5 , 1 9 1 0
Said bonds to be numbered consecutively from
1 to 375, both Inclusive, and to be fortbeprlnclpal
at 3 o’clock P . M.
sum of $1,000 each, and to bear Interest at the
m «*ibo 000 N E W A R K P L A N K RO A D IM PR O V EM EN T B O N D S, to be rate of flve per centum per annum, payable semion the first days of December and June
iss u e d under the authority of Chapter 38 of the Laws of 1906, to run for a period annuallv
of each year) the principal and Interest payable
at the office of the Treasurer of the said city In
° f F iF T Y Y E A R S .r o n d s for the erection of the N E W COURT H OUSE, to be Johnson City? Tenn. Said bonds to be coupon
issued unde°i kuthority of Chapter 47 of the Laws of 1001, a n d ^ A c t s ^ a i n e ida- b°The‘ bonds will be delivered to the purchaser
onTthe ls°t day of June at the office orthe Trewj
( 3 ) rI l 6 0 ,C ^ ^ § V L E V A R D OR E P A IR UB °N rp f ^ ^ o l^ fc3 s^ d ^ u id e ^ auM10rity StateS^Mor^gag^ &°Timst*Co ,°ln °New York^ Cltjrl
&
W
&
M
l
5 - h i Board to be
^°ry
0f °
« A
*
M
S
u
e
d
u n d er
* S ° < d ? I m 5 t h e L a w s o f 1 8 7 8 , a n d th e - i o u s ^ p l e m e n t s t h e r e to
“‘ iK d T w iil b .“ . S a S “u n d « the supervision
“ d
t T h ^ o T O r a p t e r 10 of the favorable opinion as to their legality
fuE i8ohe'bid" must ?be Sa«ompanled by a certified
LaW AU of °above issues to bear interest at FO U R AN D
P'FNTTJM nor annum payable semi-annually, and to bear date the
y
m1 ? ?9 1 0 P Said bonds to be coupon bonds with the privilege of registration both
and on delivery of same will be applied to the
as to principal and interest
will be approved of by nSrchase price; or should the bidder fall to take
un and pay for said bonds, to be retained as and
for liquidated damages. Ily statute said bonds
cannot be sold for less than par and accrued
ln Thlfsald Board reserves the right to reject any
and all bids. No bid will be received after the
hour designated herein, and all bids will be
tional Bank or Trust Company, drawn to the c
Collector, or cash to the amount of one per cent
p J 2 &
M> g ’
y announced'and^recordcd u &
endorsed “ Pro-
selfmiy ®
K d ? '1 a°LbS
L a« a r d B^
» e
interest of the County so to do.
~
?3B0y0o0r°de7of toe “ S i d of Mayor and Aldermen.
y
E e . ELLSWORTH,
' city Recorder and Treasurer.
W ALTER U
WE OWN AND OFFER
F. W M . K R A F T
LAWYER
JO HN
H. W A T K I N S
Specializing in Examination of
municipal
AND
Municipal and Corporation Bonds
RAILROAD BONDS
1312 FIRST NATIONAL BANK BLDG..
CHICAGO, IL L .
N o . 2 W A L L ST R E E T, N E W Y O R K
MUNICIPAL BONDS
Tax-Exempt Anywhere In the United States
Write lor Particulars
ULEN, SUTHERLIN & CO.
617 First Nat. Bank Bldg., CHICAGO, ILL
A pr . in 1910.
THE CHRONICLE
W ad esb oro, A n son C ou n ty, N o. Caro .— B o n d s V o te d .— By
an oycrwhdming majority, this place on April 4, it is stated,
authorized the issuance of street improvement bonds amount
ing to $10,000.
W aller C ounty R oad D istr ic t N o . 1, T e x .— Bonds R e g i s
te r e d .— 1The $25,000 5 %
10-40-year (optional) road bonds
mentioned in V . 90, p. 129, were registered by the State
Comptroller on March 30.
W a sh in g to n C. H ., F a y e tte C ou n ty, O hio.— B o n d s A u
t h o r i z e d .— The City Council on March 28 passed an ordinance
providing for the issuance of $6,000 fire-department-building
bonds.
W aterb u ry, N ew H aven C ou n ty, C onn. — B o n d O f f e r i n g .—
Proposals will be received until 8 p. m . May 16 by W m . H .
Sandland, City Clerk, for the $100,000 4 % school bonds of
fered but not sold on April 11. V. 90, p. 1061.
.v.D9,nomInatlon 51.000. Date Jan. 1 1010. Interest semt-annually at
the Columbia Trust Co. In New York City. Maturity $10,000 yearly on
Jan. 1 from 1011 to 1020 Inclusive. Certified check for 1% of bonds bid
for, payable to the City Treasurer, Is required. Bonds will be certified as
to genuineness by the Columbia Trust Co. of New York Cltv
Bids t
be made . n bla ks furnished by the city.
W a terto w n , N . Y . — B o n d s V o t e d — Propositions to issue
the following bonds were favorably voted upon April 18:
$11,000 to build a sanitary trunk sewer in the First Ward
$700 to build a storm-water sewer in Franklin Street, $1 600
]°n !e/ ,th M,Presenfc sanitary sewer in Holcomb Street,
$1,200 to build a sanitary sewer in Stone Street, $11,000 to
pave High Street and $5,500 to pave and re-timber the Arsenal
Street Viaduct.
i,?.10',,, interest (rate not to exceed 4%) payable semi
annually at the City Treasurer's office. Maturity May 1 1940.
W atk in s Schuyler C ounty, N . Y .— B o n d S a l e . — This
village on April 1 sold $33,000 4 1 -5 % 20-year coupon re
funding water and sewer bonds. These securities were
° n„r£ dAWnt ,1^ L suoccs‘s as 4s (V . 90, p. 651) on March 1.
Go in
v J 9™; In<;erest semi-annually at the Knickerbocker Trust
Co. In New York City. Denomination $1,000.
W ayn e C ounty (P . O. D e tr o it), M ich .— R e f u n d i n g B o n d s
to B e R e - a d v e r t i s e d . — Detroit papers state that it has been de
cided to rc-advertise the $1*, 100,000 3 ^ % 15-year coupon re
funding bonds, bids for the same to be opened May 4. The
bonds were offered without success on April 4, but, as stated
NEW
1121
last week, were later awarded to N . W . Halsey & Co. of
Chicago, who agreed to take up the bonds now outstanding
a. , dae MaV 1 and place the new issue at 3 % % for a con
sideration of $7,500. The bid of Halsey & Co. having been
received after April 4, however, the question was raised as
to the legal right of the county to place the issue without
again advertising.
d ,W$e,nb, S
^ sper C o u n ty , M o. — B o n d S a l e .— On April 18
the $10,000 5 % 10-20-year (optional) coupon fire-department
bonds described in V . 90, p . 1061, were sold to C. E . Deni
son & Co. of Cleveland at 102.8175 and accrued interest, A
list of the bidders follows:
C. E. Denison & Co., Clev.S10.281 75 S. A. Kean & Co., Chicago..$10,151
Well, Itoth & Co., Clncln. 10,247 00 W. N. Coler & Co., Chicago. . 10,150
W. Halsey & Co., Chic. 10,233 00 Devltt, Tremble & Co., Chic. 10,087
W. It. Compton Co., S .L ... 10,212 00 Thos.
J. BolgerCo., Chicago. 10,027
Seasongood & Mayer, CIn. 10,158 00
W e st A lexan d ria Sch ool D istr ic t (P . O. W e st A lexan d ria),
Preble C ounty, Ohio . - B o n d O f f e r i n g — Proposals will be
received until 1 p in. April 26 by E . J. Sweny, Clerk of the
Board of Education for the $50,000 4 ^ % coupon school
building bonds voted (V . 90, p . 1002) on March 22
Authority, Sections 3991 and 3992, Bates’s Revised Statutes a n r i dee
tlons 7625 7626 and 7627 of the General Code. Denomlnatfon^$500 'Date
Abril 1 1910. Interest semi-annually In West Alexandria Maturity
$1,000 each six months from April 1 1915 to Oct. 1 1939 Inclusive*1 Bonds
are exempt from taxes. Certified check on the Farmers’ & Citizens’ Bank
or the Twin Valiev Bank of West Alexandria, forT* of bonds bid for
payable to the Clerk of the Board of Education, Is required. Purchaserto
pay accrued Interest.
rurm awr iu
W e st C h ester, C hester C ou n ty, P a .— B o n d S a l e . — An issue
of $25,000 4 % sewage-disposal-plant bonds (V . 90, p. 577)
proposals for which were asked until April 1, has been dis
posed of to local investors.
W e st H ob ok en , H u d son C ou n ty, N . J . — B o n d s N o t S o l d —
No bids were received on April 13 for the $76,000 4 % 40-year
coupon funding bonds described in V . 90, p. 930.
W esto n , W ood C ou n ty, O hio.— B o n d O f f e r i n g . — Proposals
will be received until 12 m. April 25 by H . E . Jones, Village
Clerk, for $11,000 4J ^ % coupon Taylor St. paving bonds.
D ateA ^fiY iVin0f 9 cL 22 1902, Revised Statutes. Denomination $500.
Untnmw i i r ! 910. Interest semi-annually at the Village Treasurer’s office.
rnun taY^ rwC
MeS f n?on,tbs beginning April 11911. Bonds are exempt
remVerf P„™£tlflea f hcck for 51200 ■ P a y a b le to the Village Treasurer, Is
aVqpqaah
a8e-rrtA°
accrued interest. Bonded debt, $3,000.
Assessed valuation 1909, J)aY
$300,000.
v
*
LO AN S.
NEW LOANS.
8 2 2 0 , 0 0 0
Town of Stamford, Conn.,
WE OWN AND OFFER
SCHOOL BO N DS
the following new bonds and are prepared to quote especially
low prices on whole issues. Inquiries invited.
Sealed bids will be received by the undersigned,
Treasurer of the Town of Stamford, until 2 o’clock
“ ay 10th, 1910, for.the purchase of bonds
to two hundred and twenty thousand
($220,000) dollars.
Said bonds to be known as School Bonds, and
are Issued by the Town of Stamford, Connecticut.
I he said bonds are dated June 1st, 1910, and
run for thirty years.
Said bonds bear Interest at the rate of 4 per
centum per annum from June 1st, 1910, payable
semi annually on the first days of June and De
cember in each year until the payment of the
principal; principal and interest being payable
vYOfK
i City.
rii an“ °* tbe Manhattan Company, New
Said bonds arc of the denomination of one
thousand ($1,000) dollars.
Bids will be received for a part or the whole
of said bonds.
.„
T
^ asure/All
„ rP?c,rves
theberl*ht
t0 reject
any
and h1.T
all bids.
bids must
enclosed
In scaled
envelopes and endorsed “Bids for the purchase of
School Bonds of the Town of Stamford,” and de
livered to the Town Treasurer at his office in the
Town Hall, Stamford, Connecticut, on or before
2 .0.c*eek P M., May 10th, 1910, at which time
said bids will be opened.
Each bid must be accompanied by a certified
check on a State or National Bank or Trust Cornvalue o°frbomlsPbTd fon ° f thC am° Unt ° f the par
nnTTnenoUiCo^eSifJl.Lbltlder must Pay *or the bonds
i l ? / f U nV #10' at 10 o’clock A. M., at the ofat whichhtlmnCnnUireli of sa,cl Town of Stamford,
for deHverv"6 Ara* iP.’?cc 8aId, boni13 w111 bc ready
su bmft t cd ^i po n °t he dfo r m o f 6 prono ^ ^ r avkl edl
Treasurer?™ ShCd UP° n
tHe Town
Dated Stamford, Connecticut, April isth , 1910.
TRANK B. GURLEY
Town Treasurer.
B LO D G ET & CO.
BANKERS
OO S T A T E
30 F I N E
S T R E E T , B O S T O N
S T R E E T
,
N E W
$100,000 County of Jackson, Okla., Court House 5s
serial 1921=1930
$50,000 City of Lawrence, Kan., Refunding 4j^s,
maturing 1939.
$49,000 School District of Twin Falls, Idaho, 5s,
maturing 1930.
$17,000 County of Pontotoc, Okla., Funding 5s,
maturing 1929.
H . C . S p e e r &
S o n s C o .
First National Bank Bldg.,
Chicago, 111.
C harles M. Sm ith & Co.
McCOY & COM PANY
CORPORATION AND
MUNICIPAL BONDS
Municipal and
Corporation Bords
F IR S T N A T IO N A L B A N K B U IL D IN G
CHICAGO
181 La S a lle S t r e e t , C h i c a g o
ESTABLISHED 1885
Y O R K
STA TE, CITY & R A IL R O A D BONDS
M U N IC IP A L A N D R A IL R O A D
BONDS
L IS T O N A P P L IC A T IO N
SEASONGOOD & MAYER
M ercantile L ibrary B u ild in g
C IN C IN N A T I
$100,000 County of Okfuskee, Okla., Bridge 5s,
maturing 1930.
C. B. V an N o s t r a n d
36
W A L L
S T R E E T
I N D U S T R I A L S
H. C. SPEER & SONS CO.
First Nat. Bank Bldg,, Chicago
W ESTER N
M U N IC IP A L A N D SCHOOL BO N D S
O T T O J U LI U S M E R K E L
BROKER
Bank and Trust Company Stocks
44 AND 46 WALL STREET, NEW YORK
BOUGHT AND SOLD
I N V E S T M E N T
S E C U R IT IE S
C o rre sp o n d e n c e I n v ite d .
NEW
YORK AND BROOKLYN
C L I N T O N
G I L B E R T
2 WALL ST.. NEW YORK,
THE CHRONICLE
1 1 2 2
[V O L . L X X X X .
Wexford County (P. 0 . Cadillac), Mich.— B o n d s D efea ted . and described in V. 90, p. 930. The price paid by them was
— An election held April 5 resulted in the defeat of a pro 107.296 and accrued interest. Following are the bids:
le v ela n d T r Co , C le v e . $ 6 7 ,5 9 2 701 W e ll, R o th & C o .. C ln c ln .$66,9 8 1 60
position to issue bonds. The vote was 1,650 “for” to 2,159 CS ta
c v & B r L n C le v ela n d 6 7 ,3 7 8 50 H a y d e n . M iller & C o .. C le v .6 6 .8 4 9 20
S easo n g o o d & M a y e r. C ine. 6 7 .1 0 7 6 0 1O tis & H o u g h , C le v e la n d . 6 6 .5 2 5 00
“against.”
T U lo tso n & W o lc o tt C o ., C l.6 7.101 3 0 1
White County (P. O. Monticello), Ind .— B o n d O fferin g —
Proposals will be received until 12 m. April 25 at the office
of A. G. Fisher, County Auditor, for the following coupon Canada, its Provinces and Municipalities.
Artemesia Township, Ont.— D eb en tu re S a le . — An issue of
bonds:
«o 053 5% b o n d s to c o n s tr u c t th e C h a s .A .M c C le lla n d e t a l d itc h I n J a c k $13,000 school debentures has been sold to Brent, Noxon &
* ’
so n T o w n s h ip . D e n o m in a tio n $905 30. M a tu rity $905 30
C o/of Toronto. Maturity part yearly for 20 years.
y e a rly o n D ec. 1 fro m 1911 to 1920 In clu siv e.
13 500 4 H % b o n d s to c o n s tru c t th e J o s e p h V . Y o u n g e r e t a l m a c a d a m
Deanton School District No. 2410, Sask .— D eb en tu re S a le .
’
ro a d In P ra irie a n d 131g C reek to w n s h ip s . D e n o m in a tio n s
—An issue of $1,200 5 % % school-building debentures was
$575 a n d $550. M a tu rity $550 y e a rly o n N o v . 15 fro m 1911
to 1922 Inclusive a n d $575 y e a rly o n M ay 15 fro m 1911 to
recently awarded to Nay & James of Regina for $1,204 lo,
1922 In clu siv e.
,
,
32 650 4
b o n d s to c o n s tru c t th e J o h n I I. M oore e t a l m a c a d a m r o a d
the price thus being 100.345.
'
in W e st P o in t. I31g C reek a n d H o n e y C reek to w n s h ip s . D e
D a te M arch 28 1910. I n te r e s t a n n u a lly In M a rc h . M a tu r ity p a r t y e a rly
n o m in a tio n $350. M a tu rity $1,400 e a c h six m o n th s fro m
o n M arch 28 fro m 1911 to 1920 In clu siv e.
M ay 15 1911 to N o v . 15 1913 In clu siv e.
Dundalk, Ont.— D eb en tu re Safe.— Brent, Noxon & Co. oj
1 3 .5 0 0 4 M % b o n d s to c o n s tru c t th e R . C. A n d e rs o n e t a l m a c a d a m ro a d
In P ra irie a n d D ig C reek to w n s h ip s . D e n o m in a tio n s $575
Toronto have purchased $5,000 5% school debentures, due
a n d $550. .M atu rity $575 y e a rly o n M ay 15 fro m 1911 to
1922 Inclusive a n d $550 y e a rly o n N o v . 15 fro m 1911 to 1922
part yearly for 30 years.
In clu siv e.
. „
, .
East Kildonan School District No. 14, Man.— D eb en tu re
I n te r e s t s e m i-a n n u a lly a t th e M onticello N a tio n a l B a n k In M o n tic ello .
A d e p o s it of $500 m u s t a c c o m p a n y b id fo r e a c h Issu e. T h e b o n d s w ill be E le c tio n .— An election is to be held April 30, it is said, to
d e liv e re d w ith in t h i r t y d a y s a f t e r d a te of a w a r d .
Whittier Union High School District (P. O. Whittier),
Los Angeles County, Cal.— B o n d E le c tio n . — The voters of
this district on April 25 will be asked to decide whether or not
$75,000 bonds for a new school-building shall be issued.
Wilkinsburg School District (P. O. Wilkinsburg), Alle
gheny County, Pa — B o n d s N o t S o ld .— N o bids were received
on April 15 for the $200,000 4% 6-30-year (serial) coupon
high-school-building and furnishing tax-exempt bonds de
scribed in V. 90, p. 1002. Interest semi-annually in Wilkinsburg.
#
Wilmington, D el.— B o n d S a le . —The $45,000 4% refunding
water bonds described in Y. 90, p. 1061, were awarded on
April 20 to N. W. Harris & Co. of New York City at 96.646
and accrued interest. Maturity April 1 1933.
Youngstown City School District (P. O. Youngstown),
Ohio.—B o n d S a le .— The Cleveland Trust Co. of Cleveland
was the successful bidder on April 18 for the $63,000 4 lA %
coupon school sites and building bonds dated April 18 1910
vote on a by-law to raise $11,000.
Estevan, Sask.— D eb en tu re s V o te d .— This place, it is re
ported, has voted to issue $10,000 town-hall and $25,000
sewerage-system-extension debentures.
Eureka School District No. 2,174, Sask .— D eb en tu re S a le .—
An issue of $1,600 5J^% school-building debentures was
awarded on April 6 to II. O’Hara & Co. of Winnipeg at
101.125. Date June 25 1910. Interest annual. Maturity
1920.
Fort Erie, Ont.— D eben tu re S a le . —The $50,000 5% water
debentures described in V. 90, p. 874, were awarded on
April 15 to the Ontario Securities Co. of Toronto at 101.60.
The following bids were also received:
H . O ’H a r a & C o ., T o r o n t o . . $ 5 0 ,1 9 0 1W A . M ack en z ie& C o ., T o r . .$ 4 9 ,2 0 0
C . 'l l . B u rg ess & C o ., T o r ------ 4 9 ,7 0 0 |
M a tu r ity p a r t y e a rly fo r 30 y e a rs .
_
Guelph, Ont.— D eb en tu re O f f e r in g — Proposals will be re
ceived until April 27 by T. J. Moore, City Clerk, for the fol
lowing debentures:
.
NEWLO
ANS.
NEWLO
ANS.
NEWLO
ANS
S I,5 0 0 ,O O O
STATE OF MARYLAND,
$ 2 5 0 ,0 0 0
$ 9 ,0 0 0
ort Worth Im provem ent D ist. No. 1
C A D IZ , O H IO ,
TREASU RY D EPARTM ENT
A n n a p o lis, M d ., A pril 15, 1910.
THE STATE ROADS LOAN
T h e u n d e rs ig n e d , G o v e rn o r, C o m p tro lle r a n d
T r e a s u re r of th e S ta te of M a ry la n d , In p u rs u a n c e
of a n A ct of th e G e n e ra l A ssem b ly of M a ry la n d of
1908 C h a p te r 141. w ill rece iv e p ro p o s a ls fo r
$ 5 0 0 |0 0 0 S eries " B ” a n d $ 1 ,0 0 0 ,0 0 0 S eries C
01Series^‘‘B ” Uof
th e S ta te R o a d s L o a n w ill be
F e b r u a r y 1, 1909, b e a r In te re s t fro m
F e b r u a r y 1 1SH0, a t th e r a t e of T h re e a n d OncII a lf P e r C e n tu m p e r a n n u m , p a y a b le se m i
a n n u a lly on th e firs t d a y s of A u g u st a n d F e b ru a ry
In e a c h a n d e v e ry y e a r, a n d th e p rin c ip a l w ill be
re d e e m a b le a t th e p le a s u re of th e S ta t e a f t e r th e
firs t d a y of F e b r u a r y In th e y e a r 1919, a n d th e
w hole d e b t w ill b e p a y a b le o n th e firs t d a y of
OF TARRANT COUNTY. TEXAS
5% Drainage and Improvement Bonds.
S ealed b id s w ill b e re c e iv e d b y C o u n ty J u d g e
of T a r r a n t C o u n ty , T e x a s , a t b is o ffice In F o r t
W o r th , u n til 12 M . A P R I L 2 8 th , 1 910, for
p u rc h a s e of $ 2 5 0 , 0 0 0 b o n d s , In d e n o m in a tio n
of $1 ,0 0 0 e a c h , b e a rin g 5 % in te r e s t, p a y a b le
s e m i-a n n u a lly . D a te d M arch 1 s t, F910, d u e
40 y e a rs fro m d a t e , a n d o p tio n a l a f t e r 20 y e a rs .
Is su e d b y C o m m issio n ers C o u rt of ( a r r a n t
C o u n ty , T e x a s , a n d u p o n a u t h o r ity of A cts 3 1 st
L e g is la tu re of T e x a s , 1909, C h a p te r 8 5 . p a g e 139.
A ssessed v a lu a tio n T a r r a n t C o ., 1 9 0 9 .$ 8 4 ,6 8 5 ,8 7 0
In d e b te d n e s s T a r r a n t C o .----------------2 4 9 ,0 0 0
(S m a lle s t In d e b te d n e s s c o m p a re d to v a lu e of
a n y c o u n ty In T e x a s .)
A ssessed v a lu a tio n I m p r o v e m e n t
D is tric t 1909 .......................
$ 1 ,0 5 8 ,1 8 0
I n d e b te d n e s s of D is tr ic t, N o n e.
T h e C o m m issio n ers C o u rt of T a r r a n t C o u n ty
le v ies th e t a x to p a y In te r e s t, a n d th e ta x e s
c o lle c te d b y th e C o u n ty ; th e ta x c h a rg e , h o w e v e r
b e in g u p o n th e Im p r o v e m e n t D is tr ic t.
T h e se b o n d s a r e issu ed fo r d r a in a g e p u rp o s e s
a n d th e b u ild in g of le v ees In D is tr ic t w h ic h co m
p rises 3 ,0 0 0 a c re s , is p a r t ly In th e lim its of C ity
of F o r t W o r th , a n d Is tra v e r s e d b y s e v e n ra ilr o a d s .
B o n d s a p p ro v e d b y th e A tto rn e y -G e n e ra l of
T e x a s , a n d r e g is te r e d w ith S ta t e D e p a r tm e n t
^ S e r l e s ^ " ^ ” of th e S ta te R o a d s L o a n w ill be
d a te d F e b r u a r y 1. 1910, b e a r In te re s t fro m th e
s a id d a te a t th e r a t e of T h re e a n d O n e -H a lf P e r
C e n tu m p e r a n n u m , p a y a b le s e m i-a n n u a lly on
th e firs t d a y s of F e b r u a r y a n d A u g u st in e a c h a n d
e v e ry y e a r, a n d th e p rin c ip a l w ill b e re d e e m a b le
a t th e p le a s u re of th e S ta t e a f t e r th e firs t d a y of
F e b r u a r y In th e y e a r 1920, a n d th e w hole d e b t
w ill be p a y a b le o n th e first d a y of F e b r u a r y , 1925.
T h e s a id d e b ts a re e x e m p t fro m S ta te , C o u n ty
a n d m u n ic ip a l ta x a ti o n , a n d w ill be Issu ed In
b o n d fo rm , w ith c o u p o n s a t ta c h e d .
S a id p ro p o s a ls m u s t b e d e liv e re d , s e a le d , to th e
C A N A D IA N
T r e a s u re r of th e S ta t e , a t A n n a p o lis, o n o r before
12 o ’clock n o o n of th e 1 6 th d a y of M ay, 1910,
a n d m u s t be a t a p ric e , a c c ru e d In te re s t to d a te of
m u n ic ip a l b o n d s
d e liv e ry In all cases to be a d d e d th e r e to , a n d h a v e
e n d o rs e d o n th e e n v e lo p e P ro p o sa ls fo r th e S ta te
R o a d s L o a n .” E a c h Did m u s t be a c c o m p a n ie d
w ith a c e rtifie d ch e ck o n so m e re s p o n s ib le b a n k in g
I n s titu tio n fo r five p e r c e n tu m of th e a m o u n t of
s u c h b id , a n d th e sa m e w ill b e o p e n e d In th e office
TORONTO. CANADA
of th e S ta t e T re a s u re r, In th e C ity of A n n ap o lis,
a t 12 o 'c lo c k n o o n , M ay 1 6 th , 1910, In th e p re s
en c e of th e u n d e rs ig n e d .
.
O n th e o p e n in g of s u c h p ro p o s a ls so m a n y oi
TAX-FREE LEGAL^INVESTMENTS
s a id c o u p o n b o n d s a s h a v e b e e n b i d J ( ° r - 1
e x c e e d in g , h o w e v e r, th e a m o u n t fo r w h ich p ro
p o sa ls a re In v ite d , m a y be a w a rd e d b y s a id $300,000 City of Harrisb’g, P a ., School 4s
G o v e rn o r, C o m p tro lle r of th e T re a s u ry a n d $250,000 City of Altoona, Pa., Water 4s
T r e a s u r e r , o r a m a jo r ity of th e m , to th e h ig h e st
$40,000 Gloucester City, N. J., Fdg. 5s
re s p o n s ib le b id d e r o r b id d e rs fo r ca sh ; a n d w h en
tw o o r m o re b id d e rs h a v e m a d e th e sa m e b id ,
Particulars upon request.
w h ic h b id s a re th e h ig h e st, a n d if th e a m o u n ts so
b id f o r b y th e h ig h e st re s p o n s ib le b id d e rs a re in
P O R R E S T
«Sr C O .
ex c ess of th e w hole a m o u n t of th e s a id b o n d s so
o ffered fo r s a le , th e n s u c h b o n d s m a y b e a w a rd e d
to s u c h h ig h e st re s p o n s ib le b id d e rs b id d in g th e BANKERS
PHILADELPHIA, PA
s a m e p ric e In th e p ro p o rtio n w h ich th e a m o u n t
e a c h h a s b id fo r b e a rs to th e w hole a m o u n t of s a id
R . T . W ils o n & C o .
b o n d s so offered fo r sa le .
,
, _
T h e se b o n d s w ill be Issued In th e d e n o m in a tio n
Bankers & Commission Merchants
o f l$ l ,0 0 0 a n d s u b je c t to re g is tr a tio n a s to p r in
c ip a l, a n d w ill be d e liv e ra b le M ay 1 9 th , 1910,
NEW YORK
a t th e office of th e S ta te T re a s u re r. In th e C ity of 33 WALL STREET.
W . A. M A C K E N Z I E &, CO
Arr h e r ig h t Is re s e rv e d to re je c t a n y a n d a ll b id s.
A U S T IN L . C R O T H E R S ,
G o v e rn o r.
JO S H U A W . H E R IN G ,
*
C o m p tro lle r of th e T re a s u ry .
M U R R A Y V A N D IV E R ,
T re a s u re r.
B. W. Strassburger
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA.
Street Paving and Refunding Bonds
S ealed P ro p o sa ls w ill b e re c e iv e d b y th e u n d e r
sig n ed u n til 12 o ’clo ck n o o n , M AY 1 4 T H , 1910;
fo r th e p u rc h a s e of tw o S eries of b o n d s, to w it:
F ir s t S erie s— $ 6 ,0 0 0 S tr e e t A ssessm en t B o n d s!
d u e 1911 to 1021.
_
.
,
S eco n d S eries— $ 3 ,0 0 0 R e fu n d in g B o n d s , d u e
19I n te r c s t
V ,% \ s e m i-a n n u a lly : ce rtifie d ch e ck
5 % of b id .
„ . ..
R ig h t re s e rv e d to re je c t a n y o r all b id s .
W . H . L U C A S, Tow n
C le r k .
ENGINEERS.
H. M. Byllesby & Co.
ENGINEERS
D E S IG N , C O N S T R U C T A N D O P E R
A T E R A IL W A Y , L I G H T . P O W E R ,
H Y D R A U L IC A N D GAS P L A N T S .
EXAMINATIONS and REPORTS
218 La Salle Street, CHICAGO
Oklahoma City. Oklahoma, Mobile, Ala.
San Diego, Cal.
WM. J. WILGUS
M. Am. Soc. C. E. Formerly
Chief Engr., Chm., Elec. Traction
Coin., and Vice-Pres. N. Y. C. &
II. R. RR. and Leased Lines.
COLIN M. INGERSOLL
M Am. Soc. C. E.
Formerly
Chief Engineer N. Y. N. II. & II.
RR.
Consulting Engineer on
Transportation, City of NewYork
Advisory Engineers
Railroad and Municipal
Problem s
Investigations and Reports
165 BROADWAY
NEW YORK
THE CHRONICLE
A pr 23 1910.
$ 1 4 ,0 0 0 4 y i % p u b l i c - p a r k d e b e n t u r e s m e n t i o n e d In V . 9 0 , p . 8 0 3 .
tu rlty 40 y e a rs.
i
w ln te r -f a ir d e b e n tu r e s . M a tu r ity 20 y e a rs .
”•"48 10 4 'A % pavement debentures. Maturity 15 years.
1133
M a-
4^2% 40-year bridge debentures recently voted by this city
(*'• ^9, p . 579) will be issued in the immediate future.
Sturgeon Falls, Ont.— T o w n D e fa u lts in P a y m e n t o f I n 0,877 34 4 J^% pavement debentures. Maturity 15 years.
I n te r e s t o n J u n e 30 a n d D ec. 31.
*lreSl ' r ~ t °wn>ft is said, has defaulted in the payment of
Hochelaga, Que.—D eb en tu re O ffe r in g . —Proposals will be the March coupons on its outstanding bonds. The reason
received until 5 p. m. April 26 by Wilfrid Desjardins, Secre for this default is explained in the following statement printed
tary-Treasurer, for $90,000 4J^% debentures. Denomina m the Financial Post of Canada” of April 16:
r .n r .^ i» ti^ o n »F ? lls
s m a 1 1 to w n In th e d is tr ic t of N lp ls s ln g a n d h a s a
tion $1,000. Interest semi-annual. Maturity 40 years.
? h I ^ d t Rnm2f t? £ 0U t 2 ’3,?0 ' T h e b o n d s In q u e s tio n w ere 5 % a n d w ere p u r vioiri
f
i
caI d e a le rs a n d so ld o n a b asis to
Huntsville, Ont.— D eb en tu res V o te d . —The election held boon closed rilw n ™a t tlm eo nthuoo, flathr ^e° lo
P u lp a n d p a p e r m ill in th e to w n h a s
April 11 resulted in favor of issuing the $12,000 5% 20-year iT
arep m
i f c
a c c o u n t o f so m e tr o u b le w h ich c a u se d litig a tio n , a n d
0 * P eo P lc e m p lo y e d th e r e m o v e d a w a y .
I n co n s e q u e n c e .
street-improvement debentures mentioned in V. 90, p. 1003. te m n o ? a rii 5 to rti?Jng
n r a t h e r . slo w ly a n d th e to w n h a s b e e n c o m p elled
Jansen School District No. 2,428, Sask.— D eb en tu re S a le . te m p o r a r ily to d e fe r p a y m e n t o f th e b o n d I n te r e s t.”
Sudbury, Ont.— D eb en tu re S a l e .— The two issues of 5 %
— An issue of $2,500 5j^% school-building debentures was
awarded on Feb. 12 to H. O’Hara & Co. of Winnipeg at 102. 10-year local-improvement debentures aggregating $8,298 16.
offered on April 11 (V. 90, p . 1004), wire Awarded to
l u n a t e F e b . 12 1 9 1 0 .
I n t e r e s t a n n u a l l y o n F e b . 1 2 . M a t u r i t y F e b . 12
C. H Burgess & Co. of Toronto for $8,307 and accured
interest.
La Broquerie, Man.— D eben tu re S a le . —This place has sold
$3,000 6% debentures to II. O’Hara & Co. of Toronto.
Following are the bids received:
C. I I . B u rg ess & C o ., T o ro n to _ $ 8 ,3 0 7 1YV. A M ffckpnzip
pn T or t s 9 7 1
Maturity part yearly for 20 years.
r e AUS H ™ ‘s . * Co T o r . _ 8,'.301 B r e n t . N o f o n T c o . ? T o v o n t o $! | f M
Manitoba.— N e w L o a n . —The Provincial Treasurer is said
A.’
& C o ., T o r o n t o . 8 ,3 0 0 O n ta rio G u a r a n te e P n T n r
« 10 7
e a b o v e b id s in c lu d e d a c c ru e d I n te r e s t. A b id o f 98 03 4 - a n d in te r
to have received a cable message from the Government’s e s tAwllasth also
re c e iv e d fro m th e D o m in io n S e c u ritie s C o rp . . L td , o f T o ro n to '
agent in London advising that £1,000,000 stock had been
United Townships of Neelon and Garson, O n t .— D eb en
underwritten at 103.
tu re O ffe r in g .— Proposals were asked for until 8 p m
yes
Neapan Township, Ont .— D eb en tu re S a le .— An issue of terday (April 22) by M. J. Powell, Clerk (P. O. Sudbury),
$2,000 5% debentures was awarded recently, it is stated, to for $5,000 5% 15-year road-improvement debentures. The
Brent, Noxon & Co. of Toronto. Maturity part yearly for result of this offering was not known to us at the hour of
20 years.
going to press.
Owen Sound, Ont.— D eb en tu re E le c tio n . —An election will
Wapashoe School District No. 2104, Sask.— D eb en tu re
be held April 30 to vote on a proposition to issue $20,000 S a le . — On March 19 $200 school debentures were sold to
‘* 7 2 % 5-year debentures.
J. Addison Reid of Regina at par for 5>£s. Interest annual.
Port Hope, Ont.— D eb en tu re E le c tio n . —There will be sub Maturity part yearly for 10 years.
Waterloo, Ont.— D eben tu res A u th o r iz e d . —It is said that
b e d to the rate-payers on April 28 a by-law to issue
a by-law has been passed to issue $5,000 gas debentures.
$12,000 30-year sidewalk and road debentures.
Westmount, Que.— D eb en tu res A u th o r iz e d . —It is stated
Ont.— D eb en tu re S a le .—Local improvement that the rate-payers recently authorized the issuance of
*■72% debentures aggregating $22,162 have been purchased
by Brent, Noxon & Co. of Toronto. Maturity part yearly $550,000 debentures.
Winton School District No. 2438, Sask.— D eb en tu re S a le . —
for 20 years.
An issue of $1,200 5j^% school-building debentures was
Strathcona, Alberta.— N o A c tio n Y e t T a k e n . — Under date awarded on March 1 to Turgeon, Fish & Calder of Regina at
of April 16 we are advised that it is not likely the $50,000 par. Interest annual. Maturity part yearly for 10 years.
ENGINEERS.
MISCELLANEOUS.
J. G. W HITE & CO.
Engineers, Contractors
43-49 Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
Investigations and Reports on Electric
Railway Gas. Electric Light and Power
Properties. Irrigation Systems, &c., for
Imancial Institutions and Investors.
Electric Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
L o n d o n C orrespondents:
J. a. WHITE & CO., Limited
9 Cloak Lane, Cannon St., C. C.
Mem. Am. Soc. C. E.
H. U. W ALLACE
ENGINEER
Examinations, Reports, Surveys, Supervision of
construction and operation of Electric and Steam
Kallroads, Power Plants, Transmission lines,
Central Stations and Irrigation projects, Etc.
Ex-Supt. Illinois Central RR.; Chief Engineer
i IvJ? o?entra.
and Gen’l Manager Chicago
Lake Shore & South Ilend Electric Railway.
Alarquettc Bldg.
CHICAQO. ILL.
E d m o n d C. V an D lest
R o b e rt M cF. D oble
Thonm s L W ilk in so n
A s s o c ia te d
E n g in e e r s C o.
The
T r u s t C o m p a n y o f A m e r ic a
37-43 WALL STREET, NEW YORK.
COLONIAL BRANCHi
LONDON OFFICEi
222 Broadway, New York.
95 Gresham St.
CAPITAL AND SURPLUS $8,000,000
Invites accounts of individuals firms and corporations.
Pays interest on daily balances.
Executes trusts of every description.
L. F. DOMMERICH & CO.
NEW
YORK
G e n e r a l O ffic e s , 5 7
G reen e S tr e e t
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES
MANUFACTURERS,
AGENTS AND OTHERS
CARRY NO GOODS FOR OWN ACCOUNT
Examinations, Reports Construction, Operation
Irrigation Enterprises a Specialty
417 Century Bulldlug
DKNVKlt. CMIL.O.
Established 1889.
A.
L. R E G I S T E R
<&, C O .
Successors to Pepper & Register
ENGINEERS & GENERAL CONTRACTORS
112 North Broad Street Philadelphia.
MINING ENGINEERS
W ilkinson, R eckitt, W illiam s & Co.
CERTIFIED PUBLIC ACCOUNTANTS
NEW Y O R K
CHICAGO
PHILADE LPH IA
52 Broadway
M arquette Bid*.
Mutual.Life Bid*.
H. M. C H A N C E
Consulting Alining Engineer and Geologist
COAL AND MINERAL PROPERTIES
Examined, Developed, Managed
837 Drexel Bldg.
PHILADELPHIA. PA.
LON DON ,ENGLAND
Leadenhall Bldgs.
THE CHRONICLE
i m
Q vn st
GM
jaigoflevW,
Chartered 1353
45 and 47 WALL STREET
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS
-
-
$ 2 ,0 0 0 ,0 0 0 .0 0
$ 1 3 ,7 2 0 ,6 2 2 .4 2
-
T h is C o m p a n y a c ts a s E x e c u to r, A d m in is tra to r, G u a rd ia n , T r u s te e . C o u rt D e p o s ita ry a n d In
o th e r re c o g n ized t r u s t c a p a c itie s .
I t allo w s In te r e s t a t c u r r e n t ra te s o n d e p o s its.
I t h o ld s , m a n a g e s a n d In v e s ts m o n e y , se c u ritie s a n d o th e r p r o p e r ty , r e a l o r p e rs o n a l, lo r e s ta te s
c o r p o r a tio n s a n d In d iv id u a ls .
•
W . B a y a rd C u ttin g .
W illia m R o c k e fe lle r,
A le x a n d e r E . O rr,
W illia m I I . M acy J r . ,
W illia m D . S lo a n e ,
G u sta v H . S c h w a b ,
F ra n k L y m an ,
J a m e s S tillm a n .
J o h n C lafJln,
J o h n ,T. P h e lp s ,
F id e l it y
L ew is C ass L e d y a id ,
Lym aD J . G age.
P a y n e W h itn e y ,
E d w a rd W . S h e ld o n ,
C h au n c ey K eep
T ru st
G eorge L . P.Ives,
A r th u r 0 . J a m e s ,
W illiam M . K in g sley .
W illiam S te w a r t T o d ,
O g d en M ills,
C o m pany
.
Manhattan
Trust
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS, 2d Asst.Sec.
TR U STEES.
J O H N A . S T E W A R T , C h a ir m a n o t th e B o a r d .
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© n w ir a t t h e s .
Q xxx& t
(S e rm p K n U s.
idim stalesM
[Y o l .
Temporary Offices
U 3 BROADWAY
WALL STREET
CORNER NASSAU
N EW A R K , N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts as Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates. Guarantees Titles of
Real Estate throughout New Jersey.
General Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
U N I T E D ST A T ES
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL,
$2,000,000.00
SURPLUS,
$4,000,000.00
I n v ite s P e r so n a l a n d B u s in e s s
A c c o u n ts . A c ts a s T r u s te e , E x
e c u to r ,
ia n
C EN T R A L TRU ST
CO M PANY
A d m in is tr a to r , G u a r d
and
in
a ll
F id u c ia r y
C a p a c it i e s .
C e r t if i e s M u n i
c i p a l a n d C o r p o r a tio n B o n d s .
of NEW YORK
54 Wall S t r e e t
55 Cedar St.
B'way
Capital and Surplus, $18,000,000
A 73rd St.
125th St. & 8th Avo.
(of which $ 17,000,000 has been earned)
J iX j c o u u t a n t s .
Authorized to act as Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
L Y B R A N D ,
R O S S B R O S &.
M O N T G O M E R Y
C e r tifie d P u b lic A c c o u n t a n t s
(P e n n s y lv a n ia )
m in o is T r a s t& S a v in g s B a n k
CHICAGO
NEW YORK,
165 Broadway.
PHILADELPHIA,
Land Title Bldg.
PITTSBURGH,
Union Bank Bldg.
CHICAGO, First National Bank Bldg.
C a p ita l a n d S u r p lu s
$13,400,000
J A M E S
Pays Interest on Time Deposits, Current and Reserve Accounts.
Deals In Investment Securities and Foreign Exchange.
CORRESPONDENCE INVITED.
C O .
New York, Chicago,Cincinnati, and
London, England.
A L F R E D R O S E 6c C O .
WANTED
MAY 1909 ISSUE
TH E AMERICAN MFG. CO.
State and City Supplement
MANILA, SISAL AND JUTE
W ill pay 25 cents a copy
CORDAGE
&
A U D IT O R S
FOR
F IN A N C IA L
IN S T IT U
T IO N S , I N D U S T R I A L A N D
M IN IN G C O M P A N IE S
In v e s tig a tio n s , F in a n c ia l S ta te m e n ts ,
P e rio d ic a l A u d its a n d A c c o u n tin g .
Transacts a General Trust Business.
Commercial & Financial Chronicle,
Front, Pine and Depeyster Sts.
P A R K
C E R T IF IE D P U B L IC A C C O U N T A N T S
CERTIFIED PUBLIC ACCOUNTANTS
56 Pine Street,
-
NEW YORK
T e le p h o n e 4261 J o h n .
L O O M I S , C O N A N T 6c CO.
CERTIFIED PUBLIC ACCOUNTANTS
65 Wall Street
-
New York
30 Broad Street New York
T e l. 4058 B ro a d .
@FedFRASER