Full text of Commercial and Financial Chronicle : April 27, 1907, Vol. 84, No. 2183 [Copy 2]

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

f i n

Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)

a

n

c i a

State and City Section (semi Annuaispj
Street Railway Section (ThYeaSyB*y

SATURDAY, APRIL 27 1907.

VOL. 84.

l

NO. 2183.
W eek ending A p ril 20.

(& h x $ m tX £ .
PUBLISHED W EEKLY.

Clearings at—
1907.

1906.

|Inc. or
1 D ec.

1905.

1904.

$
$
$
$
%
142,201,66 1 116,271,861
B o s t o n ______
156,333,821
161,263,938
— 3.
+ 0 .<
6,792,30<J
6.892,100
8,209,600
8,133,400
P r o v id e n c e __
2,722,119
2,809,60(
H a r tfo r d .........
3,802,607
3,894,511
—
F o r O n e Y e a r .............................................................................................................. $ 1 0 00
+ 2.i
1,800,379
New H aven__
2,548,698
2,478,170
1.934,611
F o r S ix M o n t h s ............................................................................................................ 6 00
Springfield____
2,037,600
1,877,16;i
1,562,055
1,812,569 + 12.^
E u ro p e a n S u b s c r ip t io n (in c lu d in g p o s t a g e ).................................................. 13 00
1 ,594,68ij|
1,334,169
P o r t la n d _____
1,753,521 — 15.*
1,476,798
E u ro p e a n S u b s cr ip tio n s ix m o n th s (in c lu d in g p o s t a g e )..........................
7 50
1,617,01'r
1,177,012
W o rce ste r____
1,635,728
1,491,641
+ 9."
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e ) ................................£ 2 14 s,
Fall R iv e r ____
+ 2 .E
705, l i t )l
666,375
1,008,567
980,035
S ix M o n th s S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e )........................ £ 1 11 s.
579.79S !
725,520
404,403
578,204 + 25.
449,Olf !
412.442
+ 4.J
493,758
H olyok e.
432,392
S u b s cr ip tio n in c lu d e s f o ll o w i n g S u p p lem e n ts —
457.27Lowell . .
422,468
486,304 ______399,477 + 23.
B a n k a n d Q u o t a t io n (m o n th ly )
I S t a t e a n d C i t y (se m i-a n n u a lly )
— 2.1 ! 161,018,241
133.747.059
178,697,635
183,197,908
R a il w a y a n d I n d u s t r ia l (q u a r te r ly ) |S t r e e t K a il wa y (3 tim e s y e a r ly )
193,831,74);
175,589,429
234,311,669 208,932,236' + 1 2 .1
22,250,500
25,170,650 + 1 4 .8
24,539,S5(.
Cincinnati.
28,905,100
12,680,998
15,506,424' +15.81
15,905,147
Cleveland .
17,961,728
—
0.05
11,307,608
9,414,931
D
etroit____
13,622,587!
13,628,938
T r a n s ie n t m a tte r p e r in c h s p a c e (1 4 a g a te l in e s ) ........................................... 8 4 20 Milwaukee
7,795 212
10,362,029
6,836.038
8,589,308 + 20.6
( T w o M o n th s
(8 t im e s )................................ 2 2 00
5,184,901
5,810,218
7,625,258
6,458,907 + 18-1:
S ta n d in g B u s in e s s C ards < T h re e M o n th s (1 3 t im e s ) ................................ 2 9 00 Columbus
4,014,400
4,479,60(
5,661.400
5,130,900! + 1 0 .3
S ta n d in g .B usiness e a r n s < s i x M o n th s
(2 6 t im e s )................................ 5 0 0 0 T o le d o ___
3,947,606 |
3,063,021
3,706,234 + 2 0 .9
4,481,755
. T w e lv e M o n th s (5 2 t im e s )................................ 8 7 00 P e o r ia ___
+ 0 .9
2,597,547
2,417,465
2,624,040
1
2,646,719
1,969,930
1,713,212
2,431,994
2,501,688
— 2.8 i
C H IC A G O O F F I C E —P . B a r* le tt,5 1 3 M o n a d n o ck B lo c k ; T e l. H a r ris o n 4 01 2. D a y t o n _______ [
1.442.919
1,465,193
2,156,952
2,129,330
+ 1.3
+ 1.2
1,343,956
1,863,596
1,503,681
E v a n s v ille ____
1,886,428
L O N D O N O F F I C E —E d w a rd s & S m ith , 1 D ra p e rs ’ G a rd en s, E . C.
—
1.9!
747,176'
664,000
957,570
976,276
K a la m a zo o ____
758,250
608,422
Springfield, 111. I
777,844
774,088
+ 0 .5
W I L L I A M II. D A N A C O M P A N Y . P u b lis h e r s ,
600,219
791,339
L e xin g to n _____
649,393
735,227 — 11.7
Pine Street, Corner o f Pearl Street,
601,000
630,000
915,000
A k r o n ________
679,200 + 34.7
_______
696,447
!
748,970
653,795 + 14.6
Post Office Box 9 5 8 .
NEW Y O R K ,
468,919:
557,552
1
688,502
579,131 + 18.9
488,503
519,665
I R ockford ______
684,332
557,987 + 22.6
686,248
655,013
I Canton ________
553,129 + 28.5
710,515
426,362
470,062
— 9.3
328.405
338,536
j B lo o m in g to n __
419,072 + 12.91
400,719:
385.262
! Q u in c y ________
472,980
_______
352,111
428,762 + 13.0!
, South Bend_____
484,037
The following table, made up by telegraph, &c., indicates Springfield, O . . .
472,194
364,955
450,444
340,527 + 3 2 .3 !
291,630 + 35.2
325,938,
239.315
394,152
D eca tu r________
341,880
190,725
that the total bank clearings of all the clearing houses of M a n sfie ld ______
414,431
328,903 + 2 6 .0
208,006
175,005
212.452
— 0.8
210,832
i Jacksonville, 111.
220.012
the United States for the week ending to-day have been I Jackson ________
186,851
+ 6.8
333 333
312,150
103.978
79,968
111,869 + 12.7
j Ann A rbor______
82,685,951,765, against $2,862,770,675 last week and
252,963.49
4
282,328.049
+
12.1
Tot. Mid.West.
341,498.432 304.666,511
35,118.050
27,867,641
47 976,521
17,045.871 + 181.5
$2,954,262,181 the corresponding week last year.
6,832,486
9,928,456
11,901,592 + 11.6
13,280,565
Los Angeles
5,366,734
10,040,392
— 8.4
3,498,335
9,201,151
S eattle____
3,384,059
2,324,104
5.821,816
4,808,458 + 21.1
Salt Lake City___
Per
Clearings— Returns by Telegraph.
3.659,891
3,719.891
3,893,395 + 91.1
P o r tla n d ______
7,441,105
Cent.
Week ending A p ril 27.
1906.
1907.
2,867.780
2,000,539
4,573,512
3,928.110 + 16.4
T a co m a _______
2.753.046
2,199,549
3.633,239 + 41.0
5 123,769
Spokane_______
— 17.3 Helena _______
New Y o r k ____________ _________________ $1,319,191,962
$1,594,017,307
502,141
619,200
915,579
+ 2.6
939,793
136,378,640
129,537,054
+ 5.1 Fargo ________
468,069
398,581
490,014
406,527 + 20.5
Philadelphia . .
_______ ________
— 9.1 Sioux F a lls ____
116,955,827
128,639,168
313,030
322,559
+
46.6
222,963
472,950
— 4.4 Oakland_______
21,670,208
22,656,485
3,036 204 N ot included :n total
500 000 N ot included |in total
170,928,866
+ 15-7 San Jose_______
197,697,267
50,123,550
45,399,806
+ 10.4
64,421,256
56,885,722 + 6 7 -6
49,6 " ,5 9 9
Total Pacific.
95,321,196
— 7.2
14,060,983
New O rlea n s ___________ ____ ____
13,053,424
23,313,290
Kansas C i t y ___
31,190,530
24,658.878 + 2 6 .5
19,2*0,453
13.204,616
10,991,817
Minneapolis_____
20,057,612
18,004,437 + 11.4
— 11.9 O m a h a __
$2,105,239,669
Seven cities, 5 days____ _____ ________ $1,855,070,878
6.875.437
7,578,304
10,812,769
8,993,347 + 20.2
+ 23.2 St. P a u l...
393,018,406
318,946,298
Other cities, 5 days___________________
6,392,937
5,980,797
7,697,081 + 15.6
8,901,531
6.503.813
+
18.8
D enver____
4,743,563
7,778,117
6,545.307
— 7.3 St. Josephs
$2,424,185,967
4,692.053
Total all cities, 5 days------------------------ $2,248,089,284
5,064,256
6.000 000
5,297,384 + 13.3
— 17.4 Des Moines
2,686,787
2,679,384 + 17.1
2,107,835
3.136,393
437,862,481
530,076,214
All cities, 1 d a y ------------------------------1,877,456 + 2 5 .9
1,819,094
1,169,143
2,364.066
Sioux City. _
1,143,300 + 2 6 .2
1,123.498
1,114,223
1.443,134
— 9.1 W i c h i t a . . . ! . : . :
T otal all cities for w eek_____________
$2,685,951,765
$2,954,262,181
+ 9.6
964,788
1,094,539
969,087
1,199.760
Davenport
i Topeka . .
973,255
909,752 + 19.9
1,130,104
1.091.108
431,093
+
2.8
723.719
612,258
629,688
The full details for the week covered by the above will be
398,399
469,522 + 50.6
566.754
707.239
_______
504.835 + 2 2 .4
453,104
617,893
given next Saturday. We cannot furnish them to-day, PF ur eebmlo_____
172,051
188,065 + 16.2
o n t___
218,549
156.687
_______
1,086.132 + 18.6
1,288.511
clearings being made up by the clearing houses at noon on Lincoln ____
+ 19.2
97.436.900
60,929,977
81,761,677
70,610,980
T
ot.
oth
.W
est.
Saturday, and hence in the above the last day of the week
57,306,244
48,801,212
+ 7 .5
60,694.397
61,598,424
St. Louis_______
has to be in all cases estimated, as we go to press Friday night. New Orleans____
19,815.874' — 12.7
13,931,267
16,962,526
17.306,129
11,036,910
11,837,502
13,006.777' — 0.09
______
12,995,647
We present below our usual detailed figures for the previous LHoouuiss tvoille
8 740.195: + 28.2
4.918,295
5,118,817
n _______
11,208,015
2,821,000
4.643.000
4,970,000 + 26.6
6,290,500
a lv e sto n ______
week, covering the returns for the period ending with Satur­ |GR ich
4.013.000
5.062,367: + 2 7 .7
5,444,734
6.465,841
m on d ______
4,338,719
4,681.795
4,978,538
4.840,572
..............
— 2.8
day noon, April 20, and the results for the corresponding Memphis
2,556,840
2,645.735
4.004.044
5,719,2951 — 30.0
N a s h v ille ______
2,570,642
3,769,989
4,283,886 + 16.2
4,975.726
week in 1906, 1905 and 1904 are also given. Contrasted with A tla n ta ________
2,556,728
3,439,942
3.646,202! — 12.5
2.694,395
_____
1,833,148
the week of 1906 the total for the whole country shows a Savannah
1,804.038,
2,694.395
2.304.706, + 16.9
N o r fo lk ----------2,273.879
1,304,283
3,215,091
2.235.759! + 43.8
Fort
W
orth
____
loss of 9.8% . Outside of New York the increase over i Birm ingham ___
1,346.419
1,173 924
2,281,052
2.016,1601 + 13.1
1,126.757
1,225 971
1,488,060
, K n o x v ille ......... „
1,634.1251 — 9.0
1906 is 8.8% .
1,689.663
999,768
1,323.115
! Augusta................
1,628.379! — 18.8
865.405
730,703
1,517,368
I Chattanooga____
1,438.397' + 5.5
_____________
1,912,606
1,428,9501 + 33.8
Mobile ..................
W eek ending A p ril 20.
1,021,37
i
977,354
—
6.7
1.271,166
! Little R o c k _____
1,362,895
Clearings at—
1,418,877
+ 6.8
1.018,276
1,258,002
1.178,391
Charleston...........
Inc. or
1.091.213
892,496
1,500.000 + 12.1
Jackson v ille____
1,680,808
D cc.
1906.
1904.
1905.
1907524,696,
1,164,000
615,761
469,882 + 3 1 .0 !
Macon . ................
281.840
—
11.0
213,840
300,000
337.0721
Columbus, G a___
$
$
$
$
%
1,150,000 + 30.41 _____ ________ ________
1,500,000
New Y o r k _____ 1,725 859,665 2,126,247,271 — 18 8 1,940,652,011 1,103,616,646 W a c o ....................
350.000
334.484 + 19.61
325.000
400,000
Philadelphia
128,551.033
158,485,561
— 4.5
113,269,926 B eaum ont______
151.297 927
400.000; — 5.0! _____________ _____________
.380.000j
Pittsburgh____
53,231,550
43.128,660
41,257,984 W ilm ington.A .C .
53,610,956
— 0.7
B a ltim o re ______
+ 1.2
21,047,568
19,850,541
27,345,120
27,033.045
129,656,2621 112.807,711
+ 5.3
146,948,578.
154,713.209
Total Southern
5,764,638
9.031.956
Buffalo _____
6,329.221
7-191,028 + 25 6
— 9.8 2,869,330.432| 1,912,691,338
Total all............ 2.862,770,675 3,173,428,086
5.093,180
4,090.950
W ashington
5,930 „S04
5,471,394
+ 8.4
+ 8.8 928,678.421 j 809,074,692
Outside N. Y . _ 1,136.911,010:1,045,180,815
A lban y _____ . . .
7,601,104
5.293 539 + 43.6
3,408.907
3,621,077
R o c h e s te r ______
3,755,229 — 15-5
4,093,702
3,172.028
2,829,507
Canada—
— 2.2
1,602,161
1.699,599
Scranton ____
2,145 39(1
2,193.461
20,625,346. + 35.4
24,280,327:
17,978,362
27,931,862
Syracuse . . . . . . .
1,377,449
1,118.401 Montreal . .
1.583,936 + 15.2
1.824.165
+ 9.6
21,130.742
13,440,726
16,252.103,
__
23,154.782
Reading
1,451,191
— 3.9
1.067,425 Toronto
1,395,345
1.029,135
7,243,302' + 40.2
5,349,8401
4,518.125
W innipeg..
10,158,689;
1,086,350
W ilm ington
1,315,402
— 2.4
1,284.532
1,097,087 O
1,857.769
2.155.851! + 42.1
t t a w a __
2,167,2791
3,063,278|
W ilkes-Barre _
899,006
1,021,768 + 23.0
856.425
1,256,384
1.820.675, + 9 0 .8
1,287,025
1,669,930
Vancouver.
3,473.467
W h e e lin g ______
603,844
1,074.353
+ 6.1
801,166
1,139,817
1,260,000 + 22.4
1,513,825
l,541,640i
1,565,2071
478 530 H a lifa x ___
E r i e ____________
+ 8.2
711.252
498,167
657,371
1,091,070
1.407,481
+
23.8
1.742.631
1,097,041!
444,200 H a m ilto n ..
534,900
B in gh am ton ____
612,600
627,700
— 0.2
1,255.7521 + 47.9
1,261,678
1,857,144,
1,501,071!
Chester _______
384,568
516.292 Q uebec____
+ 9.4
484,252
529,735
+
37.9
869.387
1.067,107
1.472,100,
London
___
814,395
454 392
G reensburg_____
355,791
486.000
401,767 + 21.0
974.756
874.138 + 32.2
1,156,032'
933,605
F r a n k lin ..............
368,466 — 32.7
210,499
225,044 St. J o h n ...
247,929
678.665
350,777 + 1 8 4 .4
594,292
V icto ria ___
997,494!
H a rrisb u rg _____
1,400,000 N ot included in total
C a lg a ry ___
1.297,877 N ot included in total
Not
included
In
total
1,000.000
Total M id d le.. 1,995,103.303 2,397,967,690 — 16-8 2,161,295,64411,302,650,498
45.471.388
56.225.090'
Total Canada.
76.549.0181 59.191.1711 + 29.3

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960

THE CHRONICLE,

“ R A IL W A Y AN D IN D U STRIAL” SECTION.
A new number of our “ Railway and Industrial”
Section, revised to date, is sent to our subscribers to­
day. The editorial discussions in the same embrace
the following topics: “ Improvements in Railroad
Superstructure” and “ Railroad Conditions in the
South.”

[V o l . l x x x i v .

and set both circles astir, being startled and disturbed.
The President disclosed his purpose in an illustrative
way. He brought with him a bundle containing the
names of all officials in New York in the gift of the
Government, and through an object lesson explained
to Mr. Hughes what this gift meant. The lesson was
made obvious by the removal of one officer the Presi­
dent thought was in the way of the Governor’s desires
and the appointment in his place of another who
the President believed would be serviceable to Mr.
Hughes’s plans; it is reported he then told Governor
Hughes, in substance—all the offices in New York
State the General Government has to give I put at
your disposal.
It is also reported that a similar gift with regard to
Ohio was subsequently made to Mr. Taft; only in
that case the gift was in a different form; instead of
consulting the United States Senators from that
State, the appointments hereafter would be left to
Mr. Taft’s approval. Consulting United States Sena­
tors from the State concerned has in the past been
approved only because that body was a co-ordinate
branch of the Government and has been given the
power to confirm the more important appointments.
Taking the consulting and approving power from
Senator Foraker and putting it where it can be made
of service in carrying an election is not likely to re­
ceive Mr. Taft’s approval or harm Mr. Foraker’s
prospects in Ohio. We are of the opinion that both
of these putative candidates will be embarrassed by
this gift. It is too unfavorably suggestive; leaving a
chance for a troublesome opponent to make capital out
of the situation. Some might even ask, Which is the
more reprehensible— buying votes and political influ­
ence by paying in offices or by paying in gold. Does not
too, the fact, and in truth the whole machinery, by
which an acting President might seek to‘ name his
own successor, partake a trifle too much of a reaching
after kingly power to be popular in this country?

THE FIN AN C IAL SITUATION.
Crops and the President’s political campaigns have
gotten to be the engrossing topics discussed the past
week by the daily press, if not the controlling influ­
ences on the markets. As we said in our last issue,
the season being in good part phenomenally back­
ward, weather conditions are in favorable shape to
give a quasi basis for a real setback to the develop­
ment of agricultural products and to float even base­
less rumors of crop deterioration. Cotton, where the
plant has been forward, as was the case in many
districts, has suffered from the recent cold; in some
instances it has been killed, requiring replanting.
The weekly Government weather bulletin issued at
Washington April 23 stated that the current week
was the third of abnormally cold weather, especially
in the districts east of the Mississippi River. It is like­
wise reported to be true that east of the Rocky Moun­
tains the last seven days have shown a mean tem­
perature considerably below ordinary. In the plateau
regions, and in all districts to the eastward, with the
exception of Florida, the temperature has been
notably low, with the most marked deficiencies
occurring in the central valley, and freezing weather
has extended as far South as Northwestern Texas,
central Mississippi and the western part of North
Carolina, with heavy frosts as far South as Arkansas
and Tennessee. Winter wheat is also said to have
suffered from the low-temperature conditions; also
from insect destroyers, and, at points, by lack
of moisture. The damage hitherto due to these
eauses may not be very serious, though at the
Discount conditions at the principal European cen­
moment it promises to cut the winter-wheat crop
tres,
with the exception of Paris, showed marked
somewhat short of last year’s. This can be made good
improvement
this week, as was indicated by the re­
by the planting of the spring variety of wheat,should
duction
in
the
Bank of Germany’s rate by
of 1% to
future weather conditions be favorable.
5 ^ % , in the Bank of the Netherlands to 5% and in
If current reports can be depended upon, the dis­ the Bank of England to 4% . There were good rea­
closures with respect to Presidential politics are highly sons for the maintenance of the French Bank rate at
sensational. Although Mr. Roosevelt’s intention, as 33^% and for the firm tone in the unofficial quotation.
heretofore announced, seems still not to be a Presiden­ Paris bankers are now withdrawing from London the
tial candidate himself a year hence, his purpose gold which they advanced to the British market early
appears not to allow any one else to be a candidate in the year, in order to relieve the tension which then
except a lineal descendant of his opinions and policies. prevailed at that centre, and the maintenance of the
Those are not the words by which the claim is put forth, 33^% rate of discount seems to be desirable to facili­
but the statements made seem to represent that con­ tate such withdrawals. When they shall be com­
clusion. Take New York and Governor Hughes as illus­ pleted, as seems likely soon will be the case, it appears
tration. The Governor has been struggling all through probable that the Bank of France official rate will be
the legislative session in a dignified, proper way to get reduced. The fact that London bankers view the re­
eertain things done and Acts passed that outlined a pol­ call of French capital without concern is indicated by
icy which he believed was desirable for the State. His the low open market rate of 3 @ 3 )^ % . This seemed
plans did not develop as smoothly as he wished, but to foreshadow, early in the week, a reduction in the
met impediments in the shape of sensational opinions Bank minimum, which occurred on Thursday, when
opposed to the Governor’s. That was a proper pro­ 4% was recorded. Another manifestation of the ex­
ceeding for grinding out in a constitutional way the istence of entirely normal conditions in the London
problems between these contestants and bid fair to discount market was the low contangoes at the end of
produce wholesome results. All at once, and with the April settlement,these rates being the lowest in many
the suddenness and force of a tidal wave, President months, reflecting an easy speculative situation. It
Roosevelt whooped down on this peaceful situation appears probable that now the German loan of 100




A p r . 27 1907.]

THE CHRONICLE.

million dollars has been placed, the Imperial
Bank will again reduce its rate; and, indeed, condi­
tions hold out the promise that then normal discounts
will rule at all the European centres. That seems
likely for the reason that the Bank of England will be
able soon largely to increase its gold reserve through
the purchase of the metal which is now in transit
from South Africa, amounting to about $10,000,000.
With this fortification of its reserve, the Bank will be
in a position to meet all requirements, even though they
should be large, as the result of its international promi­
nence, and dominate the European situation.
The measures of relief to the New York market,
through the timely intervention by Secretary Cortelyou, have largely, as has been heretofore noted, in­
directly contributed to the restoration of normal mone­
tary and discount conditions abroad. The direct re­
sults thus far are shown in the purchase of $23,467,750 4s of 1907, the refunding into 2% consols of $39,196,550 and the increase of deposits in national banks
by $28,000,000 since March 4, including $17,510,000
customs collections placed in New York depositories.
When the purchase of $25,000,000 4s, which Mr.
Cortelyou called for redemption, shall be effected, and
when refunding of the $50,000,000 set apart for this
purpose shall be ended, there will be no further opera­
tions either in refunding or redemption; on July 2,
however, the amount of 4s then outstanding, about
$35,000,000, will be redeemed in cash. Meanwhile,
deposits of public funds in the banks will continue,
for it is stated that the Secretary has not changed his
policy in this respect. Therefore, it appears likely that
there will be no suspension of relief measures, as pro­
vided by the new financial law, at least until Treasury
conditions shall make necessary withdrawals of public
deposits in order to meet the Government require­
ments for disbursements.
The advance in foreign exchange rates this week
seemed to indicate the possibility that the gold-export
point would soon be reached. If there were any in­
ducements for shipments of gold, such as a premium
on the metal in London, or an urgent demand therefor
at Paris, it seems probable that a much further rise
in sight sterling would cause a movement hence.
Though French bankers are drawing gold from Lon­
don, they seem to be procuring the metal without
difficulty, and so long as withdrawals are not ob­
structed and the movement is for the purpose of col­
lecting an indebtedness incurred through advances to
British bankers, when they were inconvenienced by
monetary stress, exports to Paris from London will
probably be free. Moreover, about one-fourth cf
such indebtedness is said to have been already remitted,
and the remaining $7,500,000 will soon be paid. Then,
presumedly, the rate for exchange at Paris on London,
which is now so low as to facilitate the movement,
will rise and shipments will cease. Under these cir­
cumstances, there would be little if any advantage to
our bankers in shipping gold to Paris, even if exchange
rates and other conditions were such as to indicate a
profit as an arbitrage operation. It may be observed,
though, that if exchange at New York on London should
continue scarce, and be so difficult of procurement
as to make necessary remittance with gold, the metal
would go forward, but probably not in great volume.




961

Sufficient data bearing upon the current production
of gold in the world has been made public to warrant
the conclusion that the output of the mines in 1907
is quite fully meeting, if not exceeding, expectations.
It is not possible, of course, to obtain monthly or quar­
terly returns from all the important producing coun­
tries, but such results as are at hand reveal the same
tendencies as were the features of 1906 and 1905.
For example, the Witwatersrand district of Africa re­
ports for the quarter ending March 31 1907 an output
of 1,516,037 fine ounces, against 1,225,252 fine ounces
and 1,093,841 fine ounces respectively in the corre­
sponding periods of 1906 and 1905. And the re­
mainder of Africa— Transvaal outside the Rand,
Rhodesia, West Africa, &c.— has furnished approxi­
mately 250,000 fine ounces in 1907, against 225,000
fine ounces a year ago and 165,000 fine ounces in 1905.
Hence, the output for the whole country for the first
quarter of the current year has been 1,766,000 fine
ounces, which compares with 1,450,000 fine ounces last
year and 1,259,000 fine ounces two years ago, the gain
this year over 1906 being about 22% .
Advices from the mines in the United States, with­
out giving actual statistics, report an increasing out­
put in leading fields and refer in a very confident man­
ner to the bright prospects for a further very material
gain in production in Nevada now that the labor diffi­
culties at Goldfield have been amicably adjusted. On
the other hand, the mines of Australasia (not includ­
ing Tasmania and South Australia, the least import­
ant fields of the country) have collectively produced
only about 875,000 ounces in the quarter this year,
against 945,000 ounces in 1906 and 963,000 ounces in
1905, and the principal East Indian workings return
totals of 132,000 ounces, 147,000 ounces and 152,000
ounces, respectively, in the three years. But combin­
ing the aggregates for Africa, Australasia and India, we
have a result for the first quarter of 1907 of 2,773,000
ounces, against 2,542,000 ounces in 1906 and 2,374,000
ounces in 1905, the excess over 1906 being at the rate
of a little more than 9% ; for the full year 1906 the pro­
duction of the three countries specified showed a gain
over 1905 of slightly under 8 % . Consequently, as
the United States is looked to for a greater increase in
the full 12 months of 1907 than was recorded in 1906,
it seems at this writing a safe assumption that the ratio
of gain in the world’s aggregate production of gold
will show a considerable increase over 1906.
The world’s visible stock of gold is, of course, increas­
ing yearly. The general stock in the United States
on Jan. 1 1906 was reported by the Treasury as $1,419,943,124, of which $1,135,107,044 (either in the
form of coin or certificates represented by coin in the
Treasury) was in circulation. On Jan. 1 1907 the to­
tals had risen to $1,587,018,385 and$l,273,018,763,
respectively, and on April 1 a further augmentation to
$1,611,373,750 and $1,300,612,758 had been shown.
It is thus seen that in this country the stock of gold has
materially increased. During the same interval Euro­
pean banks increased their holdings of the metal mod­
erately, and it is to be presumed that in other quarters
of the globe there were additions to stocks of the pre­
cious metal. In fact, we have only to mention, by
way of illustrating how gold is accumulating at some
points, that the Argentine Government’s conversion
office is reported now to hold nearly $118,000,000 in
gold, against only $93,000,000 at the close of last

962

THE CHRONICLE

October; that more is now on the way, and that the
amount in hand by the middle of May, is expected to
reach at least $125,000,000, or $19,000,000 more than
at that date last year. But despite all these additions,
with gold an almost universal basis or medium of trade
between nations, there is yet more or less need for a
larger stock.
A noteworthy event of the week in textile circles
was the semi-annual meeting of the National Associa­
tion of Cotton Manufacturers, held in the Massachu­
setts Institute of Technology, Boston, on Wednesday
and Thursday of the current week. Including the
annual gatherings of its predecessor, the New England
Cotton Manufacturers’ Association, this was the
eighty-second, and most successful, meeting of the or­
ganization, not only in point of attendance, but in
the scope of its proceedings. The Secretary’s report,
which was submitted at the opening session on Wednes­
day, showed the recent growth in membership had been
large, 879 names being on the roll, a gain of 82
within the year. In a carefully prepared address,
Mr. James R. McColl, the presiding officer, concisely
reviewing the important happenings of the year,
pointed out the mistake of the cotton-growing interests
in securing a fraud order against the New York Cotton
Exchange. His characterization of the New York
Exchange as an institution of high record, with rules
enforcing strictly honorable dealings, merely stated
well-known facts. He also advocated the establish­
ment of a cotton exchange in New England (at either
Boston or Providence), where two-thirds of the spin­
dles of the country are located. As to the wisdom of
such an undertaking, there is room for doubt. Mr.
McColl, in referring to suits brought by the Federal
Government against cotton manufacturers in North
Carolina for breach of the' immigration law, stated it
to be an entirely unwarranted assumption on the part
of certain Southern newspapers that the actions were
based on complaints from New England manufactur­
ers. He well said that such action would have been
as unlikely as it would be narrow-minded and foolish,
if for no other reason than that Northern capital is
largely interested in Southern mills. Among the pa­
pers submitted at the first session were “Corporations
and the Public Welfare,” by Mr. Everett W. Burdett
of Boston, who referred at length to the spirit of un­
rest and discontent which seems so prevalent, and to
the especial antagonism displayed toward corporate
interests, but offered no tangible suggestion for better
conditions. Mr. Harvey Stuart Chase’s paper on
“Cost of Maintenance and Depreciation in Cotton
Mills,” as well as that devoted to “Taxation and Valua­
tion with Reference to Industrial Plants,” by Mr.
Henry K. Rowell, showed intimate knowledge of the
subjects covered, and would well repay careful reading
by practical men.
In the afternoon session, the regular order of pro­
gram was changed to permit Mr. William W. Crosby,
former principal of the Lowell Textile School, to ex­
plain a plan for investigating the condition of wageearners in textile mills. The plan has the advocacy
of the National Society for the Promotion of Industrial
Education, and it aims to find out what may properly
be done for textile workers, when they first enter the
mills, in order to increase their efficiency when they
become operatives. A move of this kind is highly



[V o l. l x x x i v .

commendable; while it makes for greater efficiency, it
at the same time is an assurance of increasing interest
of employers in the welfare of labor—a cementing of
business fellowship between employer and employee.
Mr. Samuel T. Hubbard of this city opened the after­
noon session of the first day with a paper on “The
New York Cotton Exchange and its Contract for De­
livery of Cotton.” Mr. Hubbard’s long years of ex­
perience in the New York market qualified him to
defend the contract against the various attacks made
upon it. Carefully reviewing the difficulties encoun­
tered in evolving a desirable contract, he in effect said
that the system now in use guarantees the grade,
permits re-tendering without loss in classification,
enables shippers or planters to tender merchantable
grades without change in the differences and makes
public the exact grade of the New York stock. In
fact, offers advantages not offered by any other sim­
ilar institution in the world.
The final session of the meeting—that of Thursday
morning—was devoted to elections and to the reading
of papers more or less technical.
. Some exceedingly significant events and happenings
have marked the course of the week. On Thursday
it was announced that the syndicate formed last year
to float $35,000,000 25-year 4% debenture bonds of
the Lake Shore & Michigan Southern Ry. would be
dissolved on May 1 and that the members of the syn­
dicate would be obliged to take over a large portion of
the bonds, very few of them having been sold. When
a railroad of such superlative strength and earning
capacity as the Lake Shore cannot find buyers for its
4% bonds, at a figure below par, there is evi­
dently something radically wrong in the situation.
But, as every one knows, the Lake Shore case is only
one instance. For more than fifteen months it has
been practically impossible for the best of our railroads,
those of highest credit, to borrow money except on
very stiff terms. While there may have been other
contributory causes, the main reason for the inability
to raise new capital is found in the distrust created
in the minds of investors by the hostile attitude mani­
fested against the railroads and against corporate in­
terests generally. Another event of the week that is
in like manner typical of the present state of things
and must be regarded as the direct outgrowth of
adverse legislation and public hostility is the failure of
the Rapid Transit Commission in this city to secure
any bids for the new subway routes for w hich proposals
were asked. Not a solitary bidder appeared. What
was the reason? The need for additional transit facili­
ties in this borough and in Brooklyn was never so urgent
as at present and capital is ready and willing to
embark in new subway enterprises if only a moderate
profit can be assured. But by legislative enactments
we have done everything to discourage investments
in additional subways.
Our readers will recall how difficult it was to get the
existing subways built. Year after year nothing was
accomplished until finally the Belmont syndicate
came along, raised the needed capital and carried the
undertaking to success. The fact that the promoters
of this scheme were able to make considerable profits
aroused a feeling of malevolence and straightway our
legislators went to work to render it impossible for any
future subways to be built at a profit. The length

A p r . 27 1907.J

THE CHRONICLE.

963

of the franchises was reduced and the terms and condi­ necessarily suffer very greatly and considerable idle­
tions made more onerous in other ways. President ness ensue. They conclude with these pregnant
Shonts of the Interborough-Metropolitan Co., in a words: “ We do not object to the regulation of the
letter addressed to the Board of Rapid Transit Com­ railroads by the National Government in the proper
missioners, points out that under the new conditions manner, but we do object to going through a period
imposed and the increase in the price of labor and of hard times similar to that between 1893 and 1897
materials the proposed subways would cost when fully in order to accomplish alleged railroad reform. The
equipped $2/250,000 per mile of single track, as com­ situation is serious. Immediate action is necessary,
pared with the cost of §1,130,000 per mile for the exist­ or business will diminish; bank accounts will be re­
ing Rapid Transit lines, an increase of about 100%. duced, profits will disappear, salaries will be cut,
But this is not all. Under the proposed form of con­ wages decreased, men discharged and thousands will
tract and the existing law, the expenses which must be looking for work. Every laboring man, every
be provided each year out of income are further largely business man, every professional man—in fact, every
added to as compared with those under the original man—is and will be affected.”
subway contract. In the first place, from one-half to Are those upon whom rests the responsibility for
three-quarters of 1% more interest will have to be the present unfortunate movement paying any heed
paid upon the bonds to be issued by the city for the to this cry? Quite the contrary. At Albany the
cost of construction. In the second place, unlike the Assembly has this week passed, with only five dissent­
original subway, the entire investment in the new ing votes, the bill providing for a five-cent fare to
subway will be subject to taxation. In the third Coney Island, though the Brooklyn Rapid Transit
place various advantages conferred by the original officials have declared over and over that the Coney
contract are now eliminated, and finally the lease is Island traffic at such a figure can not be made to pay.
limited to twenty years.
Other bills of the same nature are also under consid
Another important consideration is the exceptionally eration by our State Legislature, in particular one
broad power conferred by the form of contract upon aimed at the New York Central. In Minnesota the
the public authorities to require from time to time Sundberg Investigating Committee has just made its
any changes in the construction of the subway and report to the State Senate, valuing railroad property
in the equipment and other appliances used therein. in Minnesota and seeking to show that railroads in
The Interborough people would like very much to that State have been enormously over-capitalized.
complete their system, but under the circumstances Especial reference is made to the case of the Chicago
they do not feel th at it would be safe for them to assume Great Western, the market value of whose shares has
responsibility for the $88,000,000 new capital which never been more than a few cents on the dollar. The
would be required for the purpose—using the city’s committee recommends that a committee or commis­
credit for $64,000,000 and providing $24,000,000 sion be appointed to investigate generally the ques­
themselves for equipment, &c. Mr. Shonts says that tion of the capitalization of the railroads of Minne­
the terms and conditions are such that “it would not sota, with the view of the enactment of “appropriate
be possible to make net earnings above operating and legislation” on the subject. It passes our comprehen­
maintenance expenses, sinking fund payments and sion what can possibly be gained through these move­
taxes, sufficient to provide the interest upon the city’s ments directed against the capitalization of the rail­
bonds and 5% upon the additional capital invested.” roads. Capitalization never has and never will con­
So the Interborough Co. found itself reluctantly obliged trol railroad charges, either freight or passengers, and
to refrain from bidding for the new routes. In view to treat certificates like Chicago Great Western stock
of the facts stated, it is difficult to see how the Inter­ as if they represented something real, instead of some­
borough Co. could have followed any other course; thing nominal, borders closely on the ridiculous.
but think of the inconceivable folly, on the part of But our legislators evidently think that continued
our Legislature and the public, in rendering it im­ agitation is popular, whether based on legitimate
possible to do the thing which the company so much grievances or not. In the meantime, they are totally
desires to do, and which those compelled to rely on unmindful of the harm being done. It is difficult to
local transit facilities are so anxious should be done. escape the conclusion that in all this we are sowing the
wind and later on shall reap the whirlwind.
There is some evidence of the awakening of the
public mind to the harm that is resulting to all inter­ At the Louisiana State Bankers’ Convention, held
ests from the present crusade. From Chicago we at Shreveport last week, Mr. Charles G. Dawes, for­
learn that several hundred manufacturing and business merly Comptroller of the Currency and now President
firms throughout the country have junited in an address of the Central Trust Co. of Illinois, delivered an inter­
to the public. They point out that at present business esting address on the Sherman Anti-Trust Law in its
is good on old orders, but it is certain to become bad relations to the public, and earnestly argued that the
unless the existing policy is changed. They say, law should be amended. Congress, of course, is not
what is incontrovertible, that if present conditions now in session and will not convene until December,
continue, all classes of labor and every business in­ but such addresses as Mr. Dawes’s serve an important
terest will be injured. Every manufacturer, every purpose in educating the public in anticipation of the
jobber and every retailer in the United States does meeting of that body. Mr. Dawes asserts that the
business directly or indirectly with railroads or their Sherman Law sprang out of just such conditions as
officials and employees. The railroad interest is, we have in the country to-day, from widespread in­
next to farming, the largest in the country. When terest in the matter of corporate abuses, and it was
railroads begin to economize it seriously affects every hostile legislation. It was legislation that resujted
other business. Under such conditions labor must from an excited condition of the country, and it was



964

THE CHRONICLE.

ill considered, and for that reason, until recently,
for sixteen years it was a dead letter upon the statute
book. The Act provides that all agreements in re­
straint of trade are criminal, whether they are vicious
in intent or not. But this is the day of the trade
agreement. We have national, State, city and dis­
trict associations of business men, who are brought
together by their desire to formulate what might be
called the rules of trade. Very often these combina­
tions are made for the purpose of preserving existence,
not for the purpose of extorting. Very often, too,
the agreements in restraint of trade which these busi­
ness men make are beneficial to the public. Mr.
Dawes urges that agreements of that kind should be
favored by the law instead of being placed under the
ban. He points out that competition in this country
has run riot. Small businesses are being crushed out.
Under the law of evolution it must be recognized that
the trade agreement in the United States has come to
stay. Hence the statute should in some way provide
for the trial of the trade agreement, much in the same
way that a man is tried when charged with a crime.
Let not the trade agreement be presumed guilty before
trial, says Mr. Dawes. He contends that it is as much
a measure of reform to correct the Sherman Act as to
pass laws in connection with railroad rates. Every
one will agree with him when he asserts that it does
not require courage for a public man to stand for
those things which are popular in the country, but we
need men who will stand for that which is right and
that which is reasonable, even if it brings down upon
them, for the time being, the castigation instead of
the applause of the radical portion of the public.
The Bank of England rate of discount was reduced
this week from 43^% to 4 % , following a reduction by
the Imperial Bank of Germany on Tuesday of its rate
from
to 5% and by the Bank of the Netherlands
also to 5% , thus indicating a quite general improve­
ment in discount conditions at all the European cen­
tres. It may be noted, however, that the official rate
of discount of the Bank of France remains unchanged
at 3 }^ % , but special reasons exist for the maintenance
of this rate, as elsewhere stated. It appears likely
that were it not for the withdrawals of gold which
are now being made by French bankers from London,
the English Bank rate would have been further reduced
this week, for the low open market quotation seemed
clearly to indicate that the Bank no longer controlled
the discount market. Possibly when the French re­
quirements for gold shall have been satisfied, the Bank
rate will be further reduced. As the result of the
lowering of the English Bank rate unofficial discounts
were quoted at the close of the week at a decline in
London, compared with last week, of
of 1% ,
while open market rates at Paris were unchanged;
those at Berlin and Frankfort were 3^ of 1%
lower.
A Berlin cable on Friday reported that the German
and Prussian loans for $50,000,000 each, which were
issued, as announced in the “ Chronicle” last week,
have been largely over-subscribed; the books closed on
Thursday. The amount offered, as stated in the cable,
was $75,000,000, instead of $100,000,000, the total of
the emissions by both governments. The difference
of $25,000,000 between the two amounts is explained
by the fact that the syndicates which undertook the



[V o l . l x x x i v .

negotiation of the loan reserved one-quarter of the
sum for private disposition; the remainder was offered
to the public, with the results above stated.
The most notable feature of the statement of the
New York Associated Banks last week was a further
increase in loans of $25,347,800, following an expansion
of $36,968,300 in the previous week, and an increase
in deposits of $26,501,600, making $71,350,400 for the
fortnight. The loan expansion seemed to indicate
shifting of loans from trust companies to banks and
also important syndicate borrowings. The cash gain
last week was $2,477,300 and the required reserve was
augmented $6,625,400. The surplus was reduced
$4,148,100 to $11,704,825.
There have been some indications this week, as was
the case last week, of the withdrawal of balances by
interior banks from their New York correspondents, in
order to employ such balances in the home market,
where opportunities are offered for their more profit­
able use. The Sub-Treasury operations have resulted
in smaller contributions to our market than have been
latterly made, and consequently it has appeared prob­
able that the bank return of this week would.show a
further diminution of cash and of reserve. Such out­
look has, however, had no special influence upon the
rates for money on call, chiefly for the reason that the
requirements for stock speculation have been limited,
owring to the abstention of commission house clients
from trading operations; indeed, such trading has been
so small that the ordinary balances carried by these
houses has been much more than sufficient to supply
the needs of their customers, so that borrowing from
the banks has been greatly restricted. The time-loan
branch of the market shows some recessions in rates
for short maturities, but money for such periods is
not in request, partly because of the abundance of
offerings on call and also for the reason that it is ex­
pected that the distribution of Government money in
July, for the payment of the balance of the 4%s of
1907, which will then be unredeemed, will contribute
to extremely easy monetary conditions. There is a
good demand for loans maturing in the fall and in the
later months of the year; but offerings thereof are not
liberal.
Money on call, representing bankers’ balances,
loaned at the Stock Exchange during the week at
2 % % and at 1 % % , averaging about 2 ^ % ; banks and
trust companies quoted l % % as the minimum. On
Monday loans w^ere at 2 % % and at 1 ^ % , with the
bulk of the business at 23^%. On Tuesday and on
Wednesday transactions were at 234% and at 1Z
A%,
with the majority at 234%. On Thursday loans were
at 23^ % and at 2 % , writh the bulk of the business at
2 X % . On Friday it is noteworthy that transactions
were at 2% all day without change. Time loans on good
mixed Stock Exchange collateral were 33^% for sixty
and 4 @ 4 }4 % for ninety days, 43^ @ 4 % % for four,
4% @ 5 % for five and six months and 53^% for seven
to eight months; one transaction is reported at 5%
for a loan of $1,000,000 for nine to ten months, and
other equally large amounts could probably be placed
at this rate, for 534% ls the quotation. Commercial
paper is still affected by competition with corporation
notes and business is small; rates are
@ 5 % for
sixty to ninety day endorsed bills receivable, 5 ^ @ 6 %

A p r . 27 1907.]

965

THE CHRONICLE.

for prime, and 63^% and above for good four to six any increase in offerings. The market was easier on
months’ single names.
the following day and steadier on Friday.
Nominal quotations for sterling exchange are 4 84
The Bank of England rate of discount was reduced @ 4 843^ for sixty day and 4 87 @ 4 873^ for sight.
this week from 4 ^ % , at which it has stood since The market was firm on Saturday of last week and
April 11th, to 4% ; the Imperial Bank of Germany though long was unchanged, compared with Friday,
lowered its rate on Tuesday to 53^% from 6% , which short rose 20 points to 4 8580 @ 4 8595 and cables
has been maintained since January 22d, and the Bank 25 points to 4 8625 @ 4 8650. On Monday there was
of the Netherlands reduced its rate to 5% . The cable an advance in long of 30 points to 4 8310@4 8315, of
reports discounts of sixty to ninety day bank bills in 25 points in short to 4 8605 @ 4 8610 and of 25 points
London, 334%. The open market rate at Paris is in cables to 4 8650@.4 8655. On Tuesday long rose
334% an(i
Berlin and Frankfort it is 4@ 434% 25 points to 4 8335@4 8340, short 35 points to 4 8640
According to our special cable from London, the Bank @ 4 8645 and cables 30 points to 4 8680 @ 4 8685. On
gained £296,408 bullion during the week and held Wednesday long was 10 points higher at 4 8345@
£36,191,304 at the close of the week. Our corre­ 4 8350, short 25 points lower at 4 8615 @ 4 8630 and
spondent further advises us that the gain was due cables 30 points at 4 8650@4 8655. On Thursday
almost wholly to purchases in the open market, the long fell 15 points to 4 8330 @ 4 8340, short 20 points
movement from the interior of Great Britain having to 4 8605@4 8610 and cables 15 points to 4 8635@
been very moderate. The details of the movement 4 8645. The tone was steady on Friday and un­
into and out of the Bank were as follows: Imports, changed, except for long, which was 10 points lower.
The following shows daily posted rates for sterling
£509,000 (wholly bought in the open market); exports,
£284,000 (of which £254,000 to Paris and £30,000 to excnange by some of the leading drawers.
South America), and receipts of £71,000 net from the
F r i.,
M on .,
W ed.,
Tues.,
Thurs., F r i.,
interior of Great Britain.
A p r. 19 A p r. 22 A p r. 23 A p r. 24 A p r. 25 A pr. 26
The foreign exchange market was generally strong
this week, influenced chiefly by relatively lower rates
for money in New York than for discounts abroad.
This contributed to a demand to remit in settlement
of maturing and other obligations and also to transfers
of balances that could be more profitably employed at
European centres. There was a good inquiry for re­
mittance in payment for securities which had been
sold for foreign account and that had recently arrived
from London. The reduction in the Bank of England
rate had been so distinctly foreshadowed by the fall
in the unofficial figures that it had little influence,
except to stimulate buying of long sterling and to
lessen the demand for short. One feature was the
limited supply of commodity bills, indicating a small
export movement of cotton; the grain drafts that came
forward were not in sufficient volume to make any im­
pression on the market. Continued selling of securities
for London account and quite small purchases on arbi­
trage caused a steady demand, which absorbed all
offerings of bankers’ bills; therefore, when the inquiry
for the outgoing mails became urgent, rates sharply
rose, and early in the week about the highest prices
of the year were recorded for sight sterling. Then
quotations therefor were apparently so close to the
gold-export point that it was thought likely that ship­
ments to London might soon become possible were
conditions to develop which would make the operation
profitable. The fall in exchange at Paris on London
also gave rise to some expectations that gold might
go forward as an arbitrage transaction— the metal
being shipped to Paris in order to purchase sterling
exchange at that centre. In the absence, however,
of any inducements for exports, either to London or to
Paris, bankers were of the opinion that no shipments
would be made unless, indeed, exchange conditions
should become much more favorable for the movement
than at present seemed likely. On Wednesday, there
was a sharp recession in rates, which appeared to indi­
cate liberal drawings of bankers’ bills; it seemed,
though, that the fall was due to the temporary satis­
faction ofj-he'inquiry for Thursday’s mail and not to



Brow n
Bros. & C o________
Baring
& C o______________
Bank British
N orth Am erica_____
Bank of
M ontreal___________
Canadian Bank
of C om m erce______
H eidelbach. Ickelheimer & C o_______
Lazard
F reres_____________
Merchants' Bank
of C a n ada.. ---------

60 days
S ig h t..
60 days
Sight. _
60 days
Sight..
60 days
S ig h t..
60 days
S ig h t-.
60 days
S ig h t..
60 days
S ig h t-.
60 days
S ig h t ..

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4

8334
863-£
8334
8634
83^
8634
8334
8634
8334
8634
8334
8634
8334
8634
8334
8634

84
87
84
87
84
87
84
87
84
87
84
87
84
87
84
87

84
87
84
87
84
87
84
87
84
87
84
87
84
87
84
87

84
87
84
87
84
87
84
87
84
87
84
87
84
87
84
87

84
87
84
87
84H
8734
84
87
84
87
84
87
84
87
84
87H

84
87
84
87
8434
87 3£
84
87
84
87
84
87
8*
87
84
87 X

The market closed on Friday at 4 8320 @ 4 8330 for
long, 4 8605@4 8610 for short and 4 8635@4 8645
for cables. Commercial on banks 4 8280@4 8290 and
documents for payment 4 8225 @ 4 83. Cotton for
payment 4 8234 @ 4 82^g, cotton for acceptance 4 8280
@ 4 8290 and grain for payment 4 82% @ 4 83.

The following gives the week’s movement of money
to and from the interior by the New York banks.
Received by
Shipped by
N . Y . Banks. N . Y . Banks.

W eek ending A pril 26 1907.
_________ _________
Gold
_________ _
Total gold and legal tenders----------

fret Interior
Movement.

$3,209,000
906,000

$5,350,000 Loss
1,400,000 Loss

$2,141,000
494,000

$4,115,000

$6,750,000 Loss

$2,635,000

With the Sub-Treasury operations the result is as
follows:
Week ending A p ril 26 1907.
Bank’s interior movem ent as a b o v e ..

Into
Banks.

Out of
Banks.

$4,115,000
26,300,000

$6,750,000 Loss
25,800,000 Gain

$2,635,000
500,000

$30,415,000

$32,550,000 Loss

$2,136,000

N et Change in
Bank Holdings.

The following table indicates the amount of bullion
in the principal European banks:
A pril 25 1907.

A p ril 26 1906.

Bank of
Gold.

Total.

Silver.

£
E n g la n d .. 36,191,304,
F ra n ce___ 103,567,576
G erm an y. 35.327.000
Russia — 119,527,000
Aus.-Hun. 45.460.000
S p a in ------ 15.450.000
I ta ly _____ 32.422.000
Neth’ lands
5,155,200
Nat.Belg.
3,287,3331
Sweden . .
4,152,000

£
................
39,223.084
11,775,000
5,888.000
12,458,000
25,270,000
5,019,000
5.615,500
1,643,667
________

£
36,191,304
142,790,660
47.102.000
125,415,000
57.918.000
40.720.000
37.441.000
10,770,700
4.931.000
4.152.000

1

Gold.

| Silver.

£
33,102,326:
119,826,156:
38,000,000:
90,063,000;
46,112,000'
15,101,000
28,360,000!
5.469,300,
3,703,333!
3,833,000

£
................
42,185,455
12,667,000
4,914,000
12,777,000
23,884,000
3,886,700
5,923,300
1,851,667
................

|

Total.

£
33,102,32®
162,011,611
50.667.000
94.977.000
58.889.000
38.985.000
32,246,700
11.392.600
5.555.000
3.833.000

T ot. week 400,539,413^ 106,892,251 507,431.664 383,570,115!108,089,122 491.659,237
Prev. week397,712,902:106,095.771503,808,673 380,286,016:106,691.9301486,977.948

i

!

1

I

1

I

966

THE CHRONICLE.

THE BRITISH GOVERNMENT AND SOCIALISM.
A budget of income expenditure and taxation, sub­
mitted by a Government for a coming year, is apt to
be dry reading for the general public. Perhaps this
principle applies less to the annual British budgets
than to those of any other modern Government, for
the double reason, first, that the political success or
failure of an English Ministry is peculiarly dependent
on the reception given to its fiscal expedients; and,
second, that with the wide latitude assumed by Parlia­
ment in the alteration of an existing system of politics
or finances, a budget of taxation may easily be made
the entering wedge for a change, not only in the finan­
cial but in the social attitude of the Government.
Thus the “ budget speech” of Mr. Asquith, in the
House of Commons last week, was awaited with par­
ticular curiosity, because it was felt that the taxation
expedients proposed would indicate the Government’s
attitude toward the socialistic movements of the day.
Socialism, as all attentive observers of the news must
be aware, has a score of varying forms in modern con­
troversy; it does not always, or in fact often, mean
the same thing in one country as in another. Never­
theless, there is no difficulty in seeing when a particular
move of government is a distinct concession to social­
istic tendencies, and in this class of legislation the
mooted plan for “ old-age pensions” in Great Britain
would undoubtedly be classed.
To understand the position occupied by the British
Government in this regard, it must be remembered
that the Liberals had made a bid distinctly, in last
year’s elections, for the Labor Party. It is true, their
majority was in the end so great that on a vote in
Parliament they might easily dispense with the
support of the Labor members, properly so-called;
but, on the other hand, there were certain distinct
ante-election pledges, with which the Ministry was
confronted on assuming power, and which jit could not
well repudiate simply because it had learned, when
the votes were in, that they had not been necessary
to the party’s success. Very naturally, therefore,
pressure on the Ministry from the socialistically in­
clined political groups increased as the time for the
budget of taxation drew near. It was proclaimed, by
the Labor Party in particular, that the Government
would now be compelled to show its colors in the matter
of old-age pensions. On the other hand, all advices
from London’s financial markets indicated a feeling
of misgiving as to the tendencies and precedents which
might, be shown to have a place in the new scheme
of finance.
Mr. Asquith’s budget turns out to be a compromise
— in which, however, more is denied to the socialists
than is granted to them. The Chancellor of the Ex­
chequer concedes, from the $27,000,000 surplus of
the fiscal year ending March 31, the amount of $7,500,000 to be invested as a nucleus for the old-age-pension
scheme should that project ever be adopted. This
was at least a sop to Cerberus; but Mr. Asquith’s own
statement of his purpose was calculated to throw cold
water on broad inferences from the fact that the pen­
sion scheme had made its beginning. While admit­
ting that the Ministry regarded the project as “ the
most serious and most urgent of all the demands for
social reform,” he flatly declared that for his own part
he would not commit himself to any scheme for the




[V ol .

l x x x iv .

purpose. In short, the question is left very much
where it was before, except that a certain sum was laid
aside to be used if anything further comes of the oldage pension project.
It would be rash to assert that nothing more will
come of it. Nevertheless, Mr. Asquith’s own showing
of the public finances threw light on his hesitation in
this case, and gave pretty clear evidence of what so­
cialistic schemes of this nature, whether right or
wrong, must involve to the tax-paying public. In
order to provide even for the ordinary estimated needs
of Government in the coming twelve-month, the Chan­
cellor of the Exchequer not only found it necessary
to increase the “ death duties,” or inheritance tax on
large estates, to a rate fully 2% more than the rate
imposed by Sir William Harcourt in 1894, but was also
compelled to deny the very reasonable demand for
general reduction in the income tax. It was
notorious that the “ shilling income tax,” which in
England touches small incomes in a way it has never
done here, stands to-day at a rate not reached in half
a century, outside of war times. Indeed it is doubtful
if the 5% annual tax represented by exaction of
twelve pence in the pound has ever been paralleled
in England at a time of profound peace, when the fair
presumption was that recovery from the strain of war
had been completed. It was reasonably contended
by the tax-payers that, since 8% was the highest
income tax imposed between 1863 and 1900, it is unfair
to maintain so large a tax at the present time. To
this the Chancellor of the Exchequer, while admitting
the force of the complaint, nevertheless was able to
respond only to the extent of granting a reduction of
the tax to 9 shillings in the pound for incomes below
£2,000 per annum, not derived from investments.
One can hardly wonder that this extremely moderate
concession has been badly received, and it is obvious
enough that a situation of the sort must serve as a
warning, both for the general public and for the Gov­
ernment, as to what will be the price of indulgence in
socialistic experiments. If it were not for the uneasy
agitation which has seemed to be in the air throughout
the world, the suggestion of so enormous a drain as
old-age pensions must impose on the public revenues,
would be regarded in Great Britain’s case, under the
present circumstances, as a wild absurdity. Nothing
can be more plain, from the simple figures of Mr. As­
quith’s budget, than the fact that if such experiments
are tried, the preliminary step must be, not only
abandonment of all plans for cutting down the income
tax, but announcement of further increase, in that
or in other taxes, to the level reached at the critical
periods of war.
Just how such a proposition would appeal to that
part of the community which has placed itself, by its
savings, on a footing of real prosperity, is not difficult
to judge. We suspect that the British Ministry has
already judged the matter for itself and has discov­
ered considerable doubt, even from a purely political
point of view, as to whether experiments of this sort
can be altogether safe. The recent vote in the London
municipal elections, wholly adverse to the scheme
of extended municipal ownership, resulted admittedly
from burdens, fast becoming intolerable, which pre­
vious experiments had heaped on the tax-payers’
shoulders. The astonishingly complete defeat of the
Socialist Party, in the German elections earlier this

A p r . 27 1907.1

THE CHRONICLE

year, and the abandonment of purely socialistic doc­
trines by a French Ministry regarded as ultra-radical,
are equally noteworthy symptoms of the times.
What the English episode in particular points out is
the strong probability that a party which goes just a
step too far in tampering with taxation for the sake
of a purely socialist undertaking will inevitably be
unseated by such majorities as will long be remem­
bered in Parliamentary history. Perhaps the lesson
as to what the simple enthusiast over socialism must
pay from his own pocket for the pleasure of seeing
his theories tried, even tentatively, has not yet been
fully learned by the world at fcirge. It is characteristic
that a British Ministry, even when brought face to face
with a project of the sort supported by its own partial
pledge, should balk at it.

M U NICIPAL OWNERSHIP AND THE CHICAGO
STREET R A IL W A Y DECISION.
The decision rendered last week by the Supreme
Court of Illinois in the case involving the validity of
the $75,000,000 of street railway certificates which the
City of Chicago purposed issuing under the so-called
Mueller Law, enacted in 1903, appears to be far-reach­
ing in its import and, we should judge, of wide appli­
cation and bearing. The Court holds the proposed
$75,000,000 certificates invalid because, owing to the
manner in which they are to be secured, their issuance
would be tantamount to an addition to the debt of
the city, and such an addition would bring the city’s
total indebtedness far above the limit for Illinois
municipalities fixed by the Illinois Constitution.
In the last analysis, the decision is a blow at munici­
pal ownership— and a blow from the effect of which
it is not easy to see how recovery will be possible.
The ruling, however, we are glad to say, will operate
in no way to interfere with the carrying out of the
scheme for the rehabilitation of the Chicago trolley
companies, as provided in the municipal ordinances
approved by popular vote at the city election held
this very month. These ordinances give the city the
right to purchase these properties upon certain terms
at any time on six months’ notice by paying $50,000,000, the agreed valuation, plus the cost of rehabilita­
tion, which latter is estimated at not less than $40,000,000. The inability of the city to issue the certifi­
cates under the decision of the Court, making it im­
possible, therefore, for the city to float obligations
which would give it the funds to purchase the roads,
obviously defers the time when the idea of municipal
ownership can be carried out. But this is not a matter
for regret. Rather it is an occasion for rejoicing.
Moreover, it will render it less difficult for the com­
panies to raise the large amount of capital needed for
the reconstruction of the properties, inasmuch as de­
ferral of the day when the municipality itself shall
take over the roads means a corresponding lengthening
of the time during which the franchises will be held by
the present owners. For, we need hardly say, capital
is very timid about going into enterprises of this kind
where the tenure of life is short.
To the general public, the question of chief interest
in the decision is the grounds upon which the Illinois
Supreme Court rests its conclusion that certificates
of this kind, secured by a pledge of the property pur­
chased, and not purporting to be a direct obligation




967

o f the municipality, must be held to be an indebtedness
of the municipality within the scope of the constitu­
tional mandate against the creation of debt beyond
certain prescribed limits. These grounds for consid­
ering street railway certificates a municipal indebted­
ness are very broad, and will act as a bar against the
taking over of street railways by other municipalities
in Illinois, except, possibly, in the case of some very
small places without any extensive indebtedness and
over-abundantly supplied with cash. Of course, the
matter is also of importance in other States, for the
courts in those States may elect to follow the doc­
trine laid down in Illinois. With the judiciary, we
all know, precedent counts for a great deal, and when­
ever important questions of law come up there is a
constant search for authorities, not only in the home
State but in outside States.
The Mueller Law derives its name from the fact that
it was introduced in the Illinois Legislature by Senator
Carl Mueller. Its proper title is “ An Act to authorize
cities to acquire, construct, own, operate and lease
street railways and to provide the means therefor.”
The Act provides that no city shall proceed to operate
street railways unless the proposition to operate shall
first have been submitted to the electors of such city
and been approved by three-fifths of the electors vot­
ing thereon. The voters of Chicago on April 3 1906,
it will be recalled, voted against municipal operation,
but at the same time voted in favor of the issue of
Mueller certificates for the purchase, ownership and
maintenance of street railways. Two methods are
provided by the Act for obtaining funds with which
to acquire and equip street railways. The first method
is to issue bonds based upon the faith and credit of the
municipality. This method was not open to the City
of Chicago, since its indebtedness is already close up
to the prescribed limits. The second method, and the
one adopted in this instance, is to issue and dispose
of interest-bearing certificates to be known as street
railway certificates. These certificates, it is provided
by Section 2 of the law,shall “ under no circumstances
be or become an obligation of the city or payable
out of any general fund thereof, but shall be payable
solely out of a specified portion of the revenues or in­
come to be derived from the street railway property
for the acquisition of which they were issued.” It is
further provided that “ such certificates shall not be
issued and secured on any street railway property in
excess of the cost to the city of such property, as herein
before provided, and 10% of such cost in addition
thereto.”
Authority is granted to secure these certificates by
mortgage or deed of trust. Any such mortgage or
deed must carry the grant of privilege or right to main­
tain and operate the street railway property covered
thereby for a period not exceeding twenty years from
and after the date such property may come into the
possession of any person or corporation as the result
of foreclosure proceedings. Obviously the privilege
of foreclosure would possess no value unless coupled
with the condition that the purchasers shall have a
franchise for the operation of the road; but it is pre­
cisely on that ground that the issue of the certificates
is declared invalid. The Court holds that the mort­
gage pledges something beyond the mere physical
property of the street railways. It gives a mortgage
on Chicago streets for twenty years, and therefore

968

T F K CHRONICLE.

[V o l . l x x x i y .

the certificates involve the city’s general revenues to mains: Is not the property of the city pledged or mort­
that extent.
gaged for the payment of such certificates in such
Under the Illinois Constitution no county, city, manner as to make said certificates an indebtedness
township, school district or other municipal corpora­ of the city within the constitutional prohibition?
tion is allowed to become indebted in any manner or If all that it were proposed to do were to pledge the
for any purpose to an amount, including existing in property acquired and its income, there would be no
debtedness, in the aggregate exceeding 5% on the indebtedness within the constitutional inhibition.
value of the taxable property therein. It was averred But the Act goes further than that. What is to be
in the bill of complaint that the total assessed valua­ purchased with the proceeds of the certificates?
tion of all the taxable property in Chicago for the year Clearly, not the streets of the city of Chicago on which
1905 was $407,991,625, while the outstanding indebt­ the street car lines are to be laid and upon which they
edness of the city aggregated $20,298,985, or almost will be operated, says Justice Hand, for the obvious
the full 5% allowed by the Constitution. The only reason that the title to these streets and the right to
question therefore was whether the proposed certifi­ control them are already vested in the city. The
cates were an indebtedness of the city within the lim­ funds derived from the certificates will go solely to
itations imposed by the Constitution. The opinion acquire the physical property of the roads, but under
quotes from previous decisions to show that the clear the mortgage the city’s right to control the streets
and unmistakable purpose of the framers of the or­ is also pledged as security for the certificates. Justice
ganic law in inserting such a limitation in the Con­ Hand says it is too clear for argument that the use of
stitution was to effectually protect persons residing the streets for street-car purposes is to be mortgaged
in municipalities from the abuse of their credit and for the benefit of the holders of the certificates for a
the consequent oppression of burdensome, if not ruin­ period of twenty years after a sale is made under fore­
ous, taxation. Also that the prohibition is against closure. And if the right to the use of the streets is
becoming indebted— that is, voluntarily incurring a property, then it follows that the issuance of the cer­
legal liability to pay “ in any manner or for any pur­ tificates would create an indebtedness within the con­
pose” when a given amount of indebtedness has pre­ stitutional prohibition. The law is well settled in
viously been incurred. The character of the indebt­ Illinois that a city has a property right to the streets
edness which the constitutional provision was intended — that it usually holds the fee. Obviously the most
to cover is also defined. A debt payable in the future, valuable security which the certificate holder would
it was stated in one of the earlier decisions, is obviously receive would be the right granted by the trust deed
no less a debt than if payable presently, and a debt to the purchaser at foreclosure sale to operate the
payable upon a contingency, as upon the happening street railways which he may acquire at the sale in
of some event, such as the rendering of a service or the streets of the city for the period of twenty years
the delivery of property, &c., is some kind of a debt from and after the date of his purchase.
and therefore within the prohibition. If a contract
As if to emphasize the importance of the decision—
or undertaking contemplates in any contingency a in the fact that without a franchise a street railway
liability to pay, when the contingency occurs the lia­ property possesses no value, while granting the same
bility is absolute — the debt exists— and it differs from makes the certificates a city indebtedness— the Court
a present, unqualified promise to pay only in the man­ lays great stress upon that feature. It says without
ner by which the indebtedness was incurred.
the franchise the certificate holder would only have a
To be sure, it is expressly provided in the Mueller lien on the rails in the street and other equipment
Law— and the provision in the Statute was in substance of the street railway, which would be of little value
incorporated in the ordinance providing for the issue without the right to operate said street railways in the
of the $75,000,000 certificates and copied in the cer­ streets of the city. But by the deed of trust granting
tificates and trust deeds— that the certificates shall to the purchasers the franchise to operate the road,
“ under no circumstances be or become an obligation the city would lose the right itself, or. through its
or liability of the city, or payable out of any general grantees or licensees, to use its streets for the period
fund thereof.” But the Court points out that in the of twenty years from the date of the foreclosure sale
case of the City of Joliet vs. Alexander (194 Illinois, for street railway purposes, and also the compensa­
457), which we reviewed in our “ State and City ” tion which it receives as license fees or otherwise
Supplement for Oct. 12 1901, it was held that it is from the street railway companies now occupying its
not essential that there should be a right of action streets with their tracks. The surrender of such rights
on the certificates (the certificates were water certifi­ would entail upon the city not only the loss of the con­
cates in that instance) against the city in order to trol of its streets for street-railway purposes for twenty
constitute a debt where its money or property can be years, but would deprive it of many hundred thousands
taken in payment. The city of Joliet in that case of dollars which would otherwise be paid into the
was indebted up to the constitutional limit, and in treasury during that period by street railways as com­
order to extend its water-works system sought by pensation for the use of the streets.
mortgage to pledge the income of the existing water­
The decision therefore comes to this: Without the
works system and a proposed extension of the same. right to a franchise in the event of default and fore­
But the Court held that the certificates thus sought closure, the street railway property would be worthless,
to be secured created a debt within the constitutional and it would be impossible to sell the certificates,
inhibition.
for they would have no value. On the other hand,
Justice Hand, who delivered the opinion in the to grant the franchise rights as provided in the law
present instance, says that while it must be conceded and issue street-railway certificates containing such
that there is no liability resting upon the city to pay a condition is to create a municipal indebtedness,
the street railway certificates, the question still re­ since by such act the city is parting with something




A p r . 27 1907.]

THE CHRONICLE.

valuable and depriving itself of a present source of
revenue. Thus the city has presented to it two horns
of a dilemma, escape from either of which means
being impaled on the other. Justice Hand takes
occasion to point out that the Court has nothing to do
with the policy of the municipalization of street rail­
ways in the cities of the State. - It is its duty to enforce
the provisions of the Constitution regarding the limi­
tation of indebtedness as it finds them written in that
instrument. The Constitution must be enforced and
applied by the courts until its provisions are changed
by the people in the manner provided in the Consti­
tution itself.
COMPETITION NOT THE R E M E D Y IN THE
TELEPHONE SERVICE.
It is quite noteworthy how unanimous sentiment
among mercantile bodies is becoming that competition
in the telephone service is not altogether desirable—
that if reductions in rates and good service are sought,
these ends are more likely to be attained under the
present system than by inviting the entrance of oppo­
sition companies. Two recent reports serve to em­
phasize this conclusion. Early the present month a
report was made in Chicago by a special committee
which had been appointed by the Council Committee
on Gas, Oil and Electric Light to investigate the tele­
phone system and service in that most important
Western city. This special commission consisted of
three telephone experts, namely Professor D. C. Jack­
son, William H. Crumb and George W. Wilder. Two
telephone companies are now in operation in Chicago
— the Chicago Telephone Co. and the Illinois Tele­
phone Co., the latter an automatic system in the busi­
ness district and without long-distance connections.
The franchise of the Chicago Telephone Co., it appears,
has only about two years to run, and in view of that
fact a third company, the Manufacturers’ Telephone
Co., had applied for admission, claiming that it could
have its system completed in two years.
The special committee referred to reported against
the new proposal. The committee based its judg­
ment on a variety of considerations, but the
main points in its argument were that the project of
the Manufacturer?’ Telephone Co. was not feasible.
It is asserted that a plant to replace the service of
the Chicago Co. could not be constructed in less than
double the two years’ time available. It is also as­
serted the Chicago Telephone Co. has a desirable plant
in use and can furnish good service at minimum cost.
Furthermore, it is stated that the methods of charging
and the rates proposed by the Manufacturers’ Co. are
not adapted to enable the company to give first-class
service and pay ordinary interest on the investment.
It was the committee’s opinion that instead of granting
admission to the Manufacturers’ Co., a better plan
would be to renew the franchise of the Chicago Tele­
phone Co., inasmuch as control over its affairs is
possible by two alternative means (a) to reserve to the
city the right to regulate rates at certain intervals;
(b) to limit the net earnings of the company and to
require any excess above such limit to be paid to the
city.
About the time this Chicago committee made its
report, or, to be exact, the latter part of March, the
legislative committee of the State Business Men’s
Association of Hartford, Conn., also adopted a report




969

of somewhat similar tenor. The report in this in­
stance was submitted by a sub-committee which had
been asked to investigate the subject of what would
be the best way to legislate on telephone matters.
This sub-committee went into a consideration of the
circumstances and conditions regarding telephone
service existing in the New England States and in
other parts of the country, and reached the opinion
that the best method of treating telephone affairs
would be by proper legislative regulation and with
only one company in the field as at present in Hart­
ford— that nothing is to be gained by competition in
the telephone service.
This Hartford sub-committee’s report was given
out to the press and printed in full in the “ Hartford
Courant” of March 28. It contains many interesting
facts and details. The committee first took up the
question of how the existing company, the Southern
New England, was covering the field in Connecticut.
On this point it expressed the belief that the demand
for telephone service has grown much faster than it
was possible to keep pace with. It found, however,
that the company had practically doubled its wire
mileage in the late year and actually increased the
number of its stations from 41,829 at the close of
1905 to 52,476 at the close of 1906, an addition of
more than 25% , at a cost of about one and a half
million dollars. The conclusion therefore was that
the company had pushed the extension and develop­
ment of the telephone service in Connecticut during
1906 as rapidly as was consistent with thorough work­
manship and a view to permanency and best efficiency
and that in much of the work that had been done,
particularly in the line of conduits and cable work, the
future has been anticipated by provisions for immedi­
ate and active growth all along the lines where these
have been established.
On the point whether existing rates are exorbitant
and whether the company’s capitalization is excessive,
the answer in both cases is in the negative. When
the Southern New England was organized, $500,000 of
its stock went to the Bell Telephone Co. for the right
to use the latter’s patents and franchises in Connecti­
cut. The company has been gradually charging off
this amount, which has now been reduced to $113,123.
The committee finds that, with the exception of this
$113,123, “ every dollar of capital stock represented
has been actually paid in, in cash, and that the entire
amount thus paid in has been actually invested.”
Pains were also taken to investigate the common re­
port that the Bell Telephone Co. has been exacting
onerous terms from the Southern New England for
the use of its instruments. It was found that the
43^% of the gross earnings paid over to the Bell con­
cern amounted for the calendar year 1906 to $77,318,
which, with 52,476 stations, made practically $1 50
per station. On the other hand, the Bell Company
supplied without other charge the transmitter and
receiver for every telephone used by the Southern
New England, and not only furnished them but kept
them all in repair at its own expense and replaced them
with new ones whenever and wherever it was found
necessary. Certainly these items and maintenance of
same, says the committee, cost no inconsiderable part
of the $77,318 which the Bell Telephone Co. received
from the Southern New England. Furthermore, from
the long-distance service which the Southern New

970

THE CHRONICLE.

England was able to furnish through connection with
the Bell Company, the Southern New England realized
an income during the year 1906 of no less than $449,571. Accordingly, the committee gave it as its opinion
“ that the American Bell, instead of being an incubus
upon the Southern New England, is,as a matter of
fact, of material benefit to it, and through its affiliation
and connections the public is especially benefited.”
The committee was convinced that the Southern
New England is pursuing a progressive policy in the
way of extending its system, and that, as to rates,
reductions will follow just as rapidly as the earnings,
less maintenance and expenses, shall warrant.
As to the desirability and advisability of encouraging
independent telephone service with a view to reducing
rates by competition, the objections to such a course
are plainly stated. If it be conceded, as it must, that
•capital is entitled to reasonable returns, and that in
.addition to the capital invested in the existing tele­
phone service in Connecticut much more capital is to
be invested by independent companies, then a return
must be earned on a double capitalization. It is
urged that this being so, the managers of both com­
panies would be justified in so curtailing their ex­
penditures for service and maintenance as to leave a
fair profit for distribution in the way of dividends.
But curtailment of expenditures in that way would
mean a detriment to the efficiency of service, an ob­
viously undesirable result. Furthermore, it must be
admitted that good service is vastly more important
to business men than minor reductions in rates.
Another result of competitive telephone service would
be that one portion of a community would be on one
line of service, wrhile the other wrould be on the com­
peting line, with no possibility of intercommunication
except at the added expense which merchants and
business men would find necessary in having both
’phones in their places of business. To this the naive
observation is added that “ it is not possible to suppose
that competition will so reduce the rates that we can
have two ’phones in our places of business at the same
price we are now paying for one.”
In the course of its investigation of the subject the
Hartford committee found that similar committees
had recently been appointed to investigate the subject
not only in New York City, but in several important
New England points, such as Boston, Springfield and
Lowell. The Springfield (Mass.) Board of Trade,
after consideration of the advantages and disadvan­
tages to the community of the establishment of a
second telephone system in that city, voted unani­
mously that under existing circumstances the public
interests would be best served by one system. The
report of the Board of Trade of Lowell, Mass., instanced
the cases of several New England cities which had tried
duplicate service with either complete failure or at
least an entire lack of benefit to the community at­
tempted to be served.
With the report made to the Board of Estimate and
Apportionment of this city in 1905 by the Merchants’
Association our readers are doubtless familiar. The
result of the findings in that case are embodied in the
main in the following paragraph:
“ In another way experience has shown that com­
petition exerts a most pernicious influence upon devel­
opment. One of the first effects of competition is to
greatly impair the earning power of the original com­




[V o l . l x x x i v .

pany, thereby making it difficult for it to get capital
necessary to install improved service and extend the
area of its operations. The competing company
ordinarily installs highly efficient apparatus, but within
a limited area. In the course of a few' years its facili­
ties are practically congested, all its capital has been
absorbed, its low rates have not provided for depre­
ciation, it has hardly paid operating expenses, and its
financial history gives no incentive to the investment
of the additional capital necessary to extend its opera­
tions. The result is, in a large degree, paralysis of
development after the first abnormal spurt due to
competition has been made. This condition actually
exists in several competing cities at the present mo­
ment. So far as the independent companies are con­
cerned, the condition is certain in the near future to
become more widespread, inasmuch as the time has
arrived when all of the older independent companies
are feeling the effects of depreciation and the necessity
of increased capital,and recapitalization is becoming
manifest and in some cases pressing.”
Reference might also be made to the exhaustive
examination of the question,"as it affects New England,
made by G. W. Anderson of Boston, who declared it
was the plain duty of all sound-thinking and publicspirited citizens to oppose by every legitimate means
the admission of competitive telephone companies.
Under all these circumstances it is not strange that the
Hartford committee should have thrown the weight
of its opinion on the same side, concluding its report
with the remark that “ your committee could not fail
to be convinced by the preponderance of evidence that
the Connecticut business men as a whole were likely
in the future to receive more efficient and better tele­
phone service by fostering and encouraging the present
invested capital than by the introduction of compet ition
in telephone business of the State.”

A N ENGLISH AUTHORITY ON THE CHICAGO
& ALTON RE-CAPITALIZATION.
In the issue of the “ Statist” of London for April 6 there
is an interview with Mr. Robert Fleming on the railroad
situation in this country. Probably there is no one
outside the United States better informed as regards
railroad affairs than Mr. Fleming. He represents
large investments in American roads, and he has in
the past been prominently identified with a number
of important railroad reorganizations in the United
States. His statement for the “ Statist” was made
upon his return from his recent visit to this
country. After noting that there has been little or no
market for bonds for eighteen months, he expresses
the opinion that the anti-railroad crusade must remain
for some time a factor against higher values. He says
the public has been so frightened and made such large
losses that a big “ bull” campaign in stocks is unlikely.
What most enlists our attention, however, is Mr.
Fleming’s remarks concerning the Chicago & Alton
reorganization—an old event dating back eight years,
but which has recently been brought conspicuously
to view through the investigations conducted by the
Inter-State Commerce Commission. The criticism
of this reorganization he thinks has been an element
tending to intensify the feeling of distrust of railroad
policy, and unjustly so. Mr. Fleming is undoubtedly
correct in that regard. We know of no railroad
transaction which has been so generally and so sweepingly condemned. And it is difficult to see why this
should be so. In its main features this reorganization

A p r . 27 1S07.]

THE CHRONICLE,

did not differ essentially from numerous other
reorganizations none of which have been criti­
cized.
We can explain the general expressions of disappro­
bation on no other theory than that the facts are but
imperfectly understood or not understood at all,
owing to the sedulous efforts that have been made to
create erroneous impressions with regard to the same.
Newspaper headlines and editorial and other comment
give the impression that in this reorganization a few
leading financiers got together, secured possession of
the property, looted it, at the same time fleecing the
security holders, while in all the years since then the
road has been engaged in robbing its patrons by charg­
ing them exorbitant prices for the transportation
services rendered them. Nothing could be further
from the truth. The syndicate comprised not merely
Messrs. Harriman, Schiff, Gould and Stillman, but
about 100 individuals, firms and corporations. None
of the security holders of the original company suffered
a loss to the extent of a single dollar, while as for the
road’s transportation charges, shippers in 1898, the
year before the property changed hands, paid an aver­
age of 8 3-10 mills per ton per mile for the freight
moved over the Alton’s lines, and in 1906 paid an
average of only 6 4-10 mills.
In view of the general misapprehension prevailing
upon the subject, it seems desirable before setting out
Mr. Fleming’s view's to devote a little further space
to a consideration of the points against which criticism
has been mainly leveled, though we discussed the
matter quite at length in our issue of March 2. With
the facts clearly before him, the reader will be better
able to understand Mr. Fleming’s remarks. The trans­
actions connected with the Alton’s reorganization which
have been mainly called in question are: (1) The
declaration of the 30% dividend (calling for $6,669,180) after the new owners got control of the company,
with the view of returning to the shareholders
a part of the earnings which had been applied in
new capital outlays.
(2) The revision of books
and accounts so as to show the extent of these
capital outlays paid for from year to year out
of current income.
(3) The sale of $37,350,000
3% refunding bonds at 65. (4) The creation of new
securities for an aggregate so very much in excess of
the capitalization before reorganization.
The revision of the books and accounts appears to
be treated as a particularly heinous offence, and one of
the present officials of the road, in testifying before
the Commission, expressed the opinion that it was an
unheard of proceeding and quite unjustifiable. But
what is the course which any prudent man pursues
when he is about to take possession of a going concern
or to acquire a large interest in the same?
Does he not at once proceed to have the books
and accounts examined and thoroughly over­
hauled, and if the books have been kept in such
a way as to conceal important facts, does he
not authorize the auditors and accountants to go
ahead and devise a new system, and to state results
in a way which will give him a correct idea of the busi­
ness and profits of the concern? The fact that the
old Alton management had applied large amounts of
earnings in the making of improvements has never
been disputed. The only question was as to the
amount. It had been the practice to charge such




971

expenditures directly to expenses, and it remained for
the accountants to determine the amount. Moreover,
high figures were paid for the old shares by the syn­
dicate (200 in cash for the preferred and 175 for the
common) on the understanding and knowledge that
the intrinsic value of the property had been thus en­
hanced through the application of earnings in the
making of capital outlays.
In the argument the present month before the
Commission by Paul D. Cravath, of counsel for the
syndicate, reference was made to the fact that Mr.
Blackstone, the former President of the company,
in his annual report of 1894 stated that the capitaliza­
tion of the company, including its bonds and all obli­
gations assumed by it, aggregated less than 60% of
the actual cost of the property in its then condition.
This was because of the application of earnings in the
way mentioned* instead of their distribution in the
form of dividends to the shareholders. Furthermore,
Mr. Cravath called attention to a letter of Mr. Blackstone’s dated February 1899, and written at the time
of the contest for control of the property between him
and the syndicate which finally got possession of the
property, in which Mr. Blackstone himself distinctly
stated that in case he should remain in control he would
advise “ the refunding of the outstanding bonds of the
company and the issue of a stock dividend to repre­
sent earnings heretofore invested in permanent im­
provements.” Obviously, it was the intention of Mr.
Blackstone himself to have the accounts re-cast, with
the view to distributing the earnings which had been
applied to improvements.
The investigation of the books led to the conclusive
establishment of the fact that the undistributed sur­
plus income at the time of the taking over of the prop­
erty aggregated $14,824,931. In this last we have
at once the basis for the 30% stock dividend and the
sale of the new 3% refunding bonds to the stockholders
at a large discount. The stock dividend was a cash
distribution calling for $6,669,180. The earnings to
represent the dividend having been spent on capital
account, the company reimbursed itself for the outlay
by selling bonds, and used the proceeds to pay the
dividend. We must presume from the letter written
by Mr. Blackstone that, in the event of his success in
the contest for the control, the whole of the $14,824,931
surplus would have been distributed in the shape of
dividends to the shareholders. The newr owners, as
we see, distributed only $6,669,180 in dividends,'arid
appropriated the balance, $8,155,751, towards meet­
ing the greater part of the discount of 35% involved
in selling the 3% refunding bonds at 65.
But entirely apart from the application of surplus
income on the books to offset the discount on the new
bonds, these latter were issued at such a low rate of
interest that no one could have been induced to take
them except at a discount. This discount could
undoubtedly have been reduced to some extent if it
had not been desired to give shareholders the benefit
of surplus income, but at no time could par have been
obtained for them. When issued, ruling rates of in­
terest in the money market were extremely low, and
hence for a very brief time the bonds sold in the
neighborhood of 90, enabling the holders to d.’spose of
a portion of them at a considerable profit; but they
quickly found their proper level. To-day the market
price is 75, or only 10 points above the figure at which

972

THE CHRONICLE.

they were sold. Even at 65, the rate of return on the
investment to the maturity of the bonds is no more
than 4 % % , and thus it will be seen that the company
in the sale of these 3% bonds at 65 paid no high or
unusual rate of interest for the money, but a very
moderate rate.
We come now to consideration of the question of the
increase in the capitalization of the company. On
Dec. 31 1898, immediately prior to the acquisition
of control by the syndicate, the total outstanding
stock and debt of the Alton Railroad amounted to
$34,574,650. Adding to this $22,500,000, for new
capital expenditures since then ($3,000,000 represent­
ing the actual cost of the Springfield & Peoria line
acquired and $19,500,000 representing new cash raised
and put into the property for additional equipment,
reconstruction, &c.), and the total is brought up to
$57,000,000. As against this, the total par value of
stock and bonds now outstanding is $111,046,218.
This shows on its face a very wide difference. But
it must be remembered that the old securities were not
acquired at their par value. The stock;, as we have
already seen, cost the new owners almost double the
par or nominal value. The bonds and guaranteed
stocks also commanded a premium. In other words,
the nominal or par value is no index of what the prop­
erty cost or what had to be paid for it. Obviously, in
the re-capitalization account had to be taken of mar­
ket values and not of par values,
f • Contrary to general belief, the managers of the syn­
dicate when they undertook the reorganization of the
property had no easy task before them. They had to
provide for raising a large amount of cash in order to
bring plant and equipment up to modem standards.
The sum was originally estimated at $6,000,000, but,
as we have already seen, $19,500,000 was actually
needed for the purpose aside from the $3,500,000 paid
for the Springfield-Peoria line, making $22,500,000
of new capital required. This was in addition to the
large original outlay in acquiring the property at 200
for the preferred and 175 for the common. Pro­
vision had also to be made for the refunding of the
old debt of the Alton, then about to mature. It was
likewise essential that fixed and preferred chargcs
should not be materially enlarged, as the country was
only just emerging from a long period of business de­
pression. To attain these various ends it was deter­
mined to create low-rate obligations; the refunding
bonds carry only 3% and the prior lien bonds 3 ^ % ,
and even the preferred stock no more than 4% noncumulative. With the interest return so low, the
volume of securities to be issued necessarily had to be
correspondirgly increased. It is to be remembered,
furthermore, that the $19,542,800 of new common
stock put out in reality represented only a nominal
addition to capital. No dividend has ever been paid
on it and it sells to-day in the market at only 16 for
every $100 share.
After all the real test is as to how the yearly pay
ments after and before reorganization compare.
Notwithstanding the great increase in the volume
of securities put out, the fixed and preferred charges
were not added to in any great amount. Including
the 4% dividends paid on the new preferred shares, total
payments in 1906 for interest and dividends were
$3,228,864. Ten years before, in 1896, interest and
dividendfpayments were $2,933,618, and since then




[V o l . l x x x i v .

$22,500,000 of new capital has been put into the
property, as we have seen.
We are now prepared for Mr. Fleming’s comments
and remarks. Mr. Fleming pointed out that he him­
self was a member, and so were many others abroad,
of the syndicate which purchased the Chicago & Alton
and which represented practically all the stock of the
company. Though its members had nothing to do
with the scheme of re-capitalization, that syndicate
got the benefit, he says, of past earnings which had
been withheld from the stockholders and put into the
property as well as the profit on 3% bonds bought at
65 and the doubling of the capital stock. What does
the reader imagine were the profits of the syndicate?
Let Mr. Fleming answer in his own words. “ The
whole profit of the syndicate (which implied a lock-up
for twenty months), after charging the account with
interest, was only 8% on the money—about 5% per
annum—nothing very extraordinary, surely. We sold
our bonds and stocks at the high prices then prevailing
for everything. Had the bonds and stocks received
been held till now there would have been a heavy loss.”
He also points out that the assent of both Houses of
Parliament in England has more than once been given
to operations by which the Ordinary stock of English
railroads has been converted from £100 of Ordinary
stock into £100 of preferred Converted Ordinary,
bearing a low rate of dividend, and £100 Deferred
Converted Ordinary, thereby doubling the amount of
the original stock. He well says there is no essential
difference between that operation and the Chicago &
Alton plan. Doubling the capital does not double
the value. Chicago & Alton preferred is quoted to­
day at 59% and the common at 16%. In England
the idea was that the conversion gave in the preferred
a medium for the less speculative part of the com­
munity and in the Deferred Ordinary for the more
speculative, it being thought that the two things
would sell in the market for something more than the
undivided stock. That idea, he is prepared to admit,
has now been largely exploded as far as the Alton is
concerned, and in that sense the doubling of the stock
was a mistake. But in any event it does not increase
the revenue one cent. He refers to the case of, the
Midland R y., whose Ordinary was thus increased
from £38,000,000 to £76,000,000; but that line cannot
on that account get from freight or passengers higher
rates and fares than the London & North Western.
Mr. Fleming is also led to say that in condemning
watered capital the American public is led by theor­
ists. If a law prohibiting the issue of stock ex­
cept for par in cash had existed in this country in the
past, many of_what are now large systems, he observes, would never have been built; and if in the
future the capital of railroads is to represent no more
than the money spent, it follows that no new railroads
will be built unless by existing dividend-paying sys­
tems. To our mind this last involves the real, the
supreme danger connected with the present agitation
against allowing railroads to issue new securities except
to represent the actual cash cost of new work. Such a
policy might not work insufferable harm in the older
sections of the country— in New England and the
Middle States, already well supplied with railroad
facilities; but what of the remoter parts of the coun­
try— the West, the South, the Southwest, the Pacific
Coast? Will not such a policy remove all inducement

A p r . 27 1907.]

THE CHRONICLE.

973

maintain perfect and full accord with their friends and
patrons, the merchants of St. Louis, and as a recognition of
the invariable courtesy that has characterized their relations
with banks.” Petitions to reduce the charges had been
presented to the banks by the merchants and business men
several times in the last five or six years, according to the
“ Globe-Democrat” ; the present negotiations were opened
more than a month ago with a committee representing the
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
merchants. Their argument was that the old schedule was
— The public sales of bank stocks this week aggregate 132 based on collection charges in the smaller cities in force
shares, of which 100 shares were sold at the Stock Exchange twelve years ago; that these had since been lowered and
and 32 shares at auction. The transactions in trust com­ that the St. Louis banks could make a corresponding reduc­
pany stocks were limited to the sale at auction of two lots of tion without losing money.
10 shares each of stock of the Trust Company of America
— “ Bills of Lading in Inter-State Commerce” was the
and of the Carnegie Trust Co. For the latter 235% was
theme of an address made by Thomas B. Paton, Editor of
paid, as against 225 at last week’s auction.
the Banking Law Journal of this city, before the Arkansas
B A N K S — N ew Y o r k .
L o w . H ig h . C lose.
L a st p revio u s sa le.
S h ares.
Bankers’ convention at Little Rock yesterday. Mr. Paton
xlOO C om m e r c e , N a t. B a n k o f _ . 170
172
172
A p ril 190 7— 170
went fully into the subject, bringing out the weak points in
32 M erca n tile N a t. B a n k ______ 235
235
235
N o v . 190 5— 270
T R U S T C O M P A N I E S — N ew Y o r k .
bills of lading as governed by existing laws. In the course of
10 C arn egie T ru st C o .................. 235 H 235 H 2 3 5 ^ A p r il 1 90 7— 225
his remarks he referred to the bill of lading measure drafted
T 10 T ru s t C o. o f A m e r i c a ............ 732J-5 732J* 7 3 2 }4 A p ril 1907— 745
in 1906 by the Bankers’ Committee and introduced in Con­
x S old at th e S to c k E x ch a n g e .
gress last December as an amendment or addition to Section
— Pueblo, Colorado, was designated a reserve city on the
20 of the Hepburn Rate Bill, enacted last June. Under this
16th inst, under the Act of March 3 1887 as amended by the
latter section the carrier is required to issue a receipt or bill
Act of March 3 1903.
of lading for property received for inter-State transportation,
— A New York Stock Exchange membership was reported and the initial carrier is made liable to the holder of the bill
sold this week for $79,000. Tke last previous sale, reported of lading for any loss, damage or injury to the property not
last week, was at $78,500.
only when caused by such initial carrier, but when caused by
— The two amendments to the constitution of the New any subsequent carrier. The new measure proposed, Mr.
York Clearing House, which are to be acted on at the nex^ Paton points out, does not seek to codify the entire law
meeting of the Association, were not correctly stated in this governing the issue, transfer and redemption of bills of lading,
column last week. It is not usual for the Clearing House but is confined to those points of regulation which the bank­
to make public proposed amendments until after their adop­ ers deem essential. The general object of the proposed
tion, but to avoid further misunderstanding the correct amendments is, he states, to provide by national law a
wording of the proposals, as noticed for adoption at the distinctive inter-State order of bill of lading with precise
meeting on April 12, has now been given out. We print definition of the title and rights acquired by a bona fide
them herewith:
transferee for value and of the duties and liabilities of the
(1)
B a n k s a c tin g as re d e e m in g a g en ts fo r o th e r in s titu tio n s n o t m e m b e r s
carrier, having due regard to the nature of the business, the
o f this A s s o c ia tio n shall keep an d m a in ta in in th e ir o w n v a u lts a ca sh re ­
serve o f n e t d e p o s its eq u a l t o th e h igh est p e rce n ta g e o f rese rv e r e q u ir e d
safety of the banker who loans upon such documents, and
b y law o f a n y m e m b e r o f th is A s s o c ia tio n .
the relation and rights of the carrier. The committee which
(2)
N o m e m b e r o f th is A s s o c ia tio n shall send o r p a y th ro u g h th e e x ­
ch a n g es ch e ck s o r o th e r ite m s d raw n on b a n k s, ban kers o r tru st c o m p a n ie s ,
drafted the bill does not, of course, claim that this is a perfect
n o t m em b ers o f this A s s o c ia tio n , b y cu s to m e rs th e r e o f in G re a te r N ew Y o r k ,
a n d m a d e p a y a b le a t a C le a rin g -H o u se b a n k , unless th e sam e shall first
measure, or that it cannot be improved upon; it solicits the
be a c c e p te d and m a d e p a y a b le at a C le a rin g -H o u se b a n k b y th e b a n k ,
ban k er o r tru st c o m p a n y u p o n w h ich th e y are d ra w n .
T h is p r o v is io n
aid of bankers in the different sections of the country, and to
shall also a p p ly t o n o n -m e m b e rs m a k in g e x ch a n g e s t h r o u g h m e m b e rs o f
th is A ss o c ia tio n .
this end asked for the appointment of a committee of three
It will be observed that the first of these amendments, from the Arkansas Association to co-operate with other State
instead of being a requirement that non-member banks bodies and the American Bankers’ Association, and to assist
must hold a cash reserve of 25% as had been supposed, in procuring the necessary Congressional legislation.
provides that banks acting as redeeming agents for other
— On Monday of this week the Chemical National Bank
institutions not members of the Association shall keep a of this city began business in its handsome new home,
reserve to that extent. The second amendment is aimed erected on its former site at 270 Broadway. This old insti­
at the practice pursued in many instances by those having tution has now one of the most complete banking houses in
accounts at banking institutions outside of the Clearing the country. The main room is 70 feet wide by 170 feet
•House to draw checks on these institutions and stamp them long, and is 85 feet high, surmounted and lighted with a
as payable at some Clearing House or non-member bank. magnificent stained-glass dome. Four allegorical figures
Hereafter such checks can only pass through the Clearing- appear in the corners below the dome, representing Ceres,
House if stamped as payable at a Clearing-House bank Boreas, Helios and Neptune, typifying the earth, air, fire
by the bank, banker or trust company upon which they are and water of ancient chemistry. Green, veined white and
drawn.
variegated Italian marbles are used extensively throughout
There is also a third amendment proposed. This defines the building.
the make-up of the different items in the weekly bank state­
—
t o merger of the Colonial Trust Company, 222 Broad­
ment. It is as follows:
way, with the Trust Company of America, 135 Broadway,
A d d t o S ection 16:
T h e several item s o f th e w e e k ly sta te m e n t are t o c o m p r is e th e fo llo w in g :
this city, went into operation yesterday. The stockholders
L oa n s an d D is c o u n ts — L o a n s , D is c o u n ts an d s to c k s an d b o n d s and m o r t ­
g ages o w n e d b y th e b a n k .
of both companies met last Thursday and ratified the di­
S p ecie— G old an d silv e r c o in . U n ite d S ta te s and C le a rin g -H o u s e g o ld
rectors’ agreement effecting the consolidation as outlined
c ertifica tes and U n ite d S tates silver c e r tific a te s .
L ega l-ten d er N o te s — U n ite d S tates le g a l-te n d e r n o te s o f all Issues.
several times in these columns. The Colonial Company’s
C ircu la tion — A m o u n t o u ts ta n d in g .
D e p o s its — G ross d e p o s its an d u n p a id d iv id e n d s , less e x c h a n g e s fo r th e
offices in the St. Paul Building will henceforth be known as
C lea rin g -H ou se, a m o u n ts d u e fro m o th e r ban k s fo r c o lle c t io n , n o te s o f
o th e r ban ks an d ch e ck s o n n o n -c le a rin g In stitu tio n s In th is c it y .
the “ Colonial Branch, the Trust Company of America.”
The Clearing House has no fixed dates for its meetings, The headquarters of the Trust Company of America at 135
and therefore it cannot be stated when the amendments Broadway and its branch office at 36 Wall Street will be
will be acted on.
continued until the consolidated institution’s fine new bank
— A new schedule of collection charges adopted by the building on Wall Street is completed.
St. Louis Clearing House Association on the 10th inst. will
W . O. Douglas, an assistant loan clerk of the Trust
go into effect next week— May 1. In commenting on the Company of America, and Oliver M. Dennett, a broker,
changed rates, the St. Louis “ Globe-Democrat” notes that acting as his accomplice, were arrested this week for stealing
under the new schedule the old collection rates in force a large amount of securities from the company’s vaults.
since 1895 are cut down an average of about 20% . Presi­ They were committed to jail in lieu of $10,000 bail to await
dent W . H. Lee of the Clearing House,in announcing the trial. The exact amount of the securities taken has not been
adoption of the new charges, states that “ the action was not disclosed, but part has been recovered. After a meeting of
taken without realizing that it involved some loss to the the Executive Committee on the 23d inst., Oakleigh Thorne,
banks, but it was the expression of their earnest desire to I President, stated “ that the maximumkloss cannot exceed

for the construction of new roads in sparsely settled
communities? And will not the cessation of new rail­
road building mean a check to the wonderful develop­
ment of these remoter sections which has been such
a striking feature in their recent history?




974

THE CHRONICLE.

[V o l . l x x x iv .

$140,000,and if the contention of our counsel is sustained dividend of 6 % , free of tax, payable May 1 to stockholders
that the stolen bonds or their proceeds may be recovered from of record April 25. They also added $250,000 to surplus,
those to whom they were delivered, the company will lose making that fund $3,000,000. The half-yearly distribution
nothing.” The consolidated company has a capital of was increased from 5 to 6% last November.
$2,000,000, surplus of over $10,000,000 and deposits be­
— It is reported that the name of the State Trust & Secur­
tween $65,000,000 and $70,000,000.
ity Company, now organizing in Philadelphia, has been
— The Greenwich Bank of this city has declared a semi­ changed to the Belmont Trust Company. The new institu­
annual dividend of 5 % , payable May 1, making the annual tion, as stated Dec. 29, is to locate in West Philadelphia on
rate 10% . This is the 104th dividend paid by this insti­ Baltimore Avenue in the vicinity of 49th Street. The au­
tution and is an increase over the rate paid in 1906, which thorized capital will be $250,000, one-half of which will be
was 8 % . In 1905 7% was paid, previous to which 6% had paid in.
been the yearly rate for a long time.
— An exquisite example of the typographers’ art is fur­
— The Washington Trust Company at 280 Broadway, this nished in a book, both original and tasteful in design, issued
city, will move about June 1 to its new offices on the first by the Bank of Pittsburgh, N. A ., at Pittsburgh. One of
floor of the Postal Telegraph Building, 253 Broadway.
the striking features of the newest publication is the repro­
— The Fourteenth Street Bank of this city, as noted last duction in colors of two mural paintings. As may be in­
week, will, beginning Monday next, clear all transactions ferred from the title of the book— "The Bank Historical” —
through the New York’ Clearing House, of which it has lately the work reviews the institution’s history, and also, at con­
been elected a member. The institution commenced busi­ siderable length, that of the city. Many illustrations adorn
ness in 1888, and'for'a^'number of years was located at 3 the book— some picturing the bank’s quarters, others bearing
East 14th Street, one’ door from its present site. Five years on the city and serving to indicate its development. The
ago the building on the northeast corner of Fifth Avenue and progress of nearly one hundred years is covered in the work.
14th Street was purchased and fitted up with commodious The bank was organized in 1810, when Pittsburgh had less
banking offices and spacious safe deposit vaults. Two than 5,000 inhabitants. Up to that time, we are told, there
branches are also maintained— the Gansevoort Branch, at had never been a bank west of the Allegheny Mountains,
Ninth Avenue and 14thTStreet, and the East Side Branch, at although a branch of a Philadelphia institution was located
Avenue A and Second Street. The last-named branch will at Pittsburgh. The organization of the bank had scarcely
remove about the middle of May to 345-347 Grand Street, been perfected when an Act of the Legislature made the
this being a more convenient location for its East Side cus­ establishment of new banks a practical impossibility, and it
tomers. In 1901 the bank’s capital was but $100,000; this was forced to change its name to the Pittsburgh Manufac­
was increased in 1905 to $500,000, and on January 1 of this turing Company and limit its operations somewhat to come
year to $1,000,000. R. Ross Appleton has been the Presi­ within the bounds of the law. Four years later a new bank­
dent for the last five years, and to his progressive spirit, ing law was passed, a charter was granted and the Pittsburgh
liberal management and superior executive ability the growth Manufacturing Company again became the Bank of Pitts­
burgh. At the time of the financial panic of 1837, a year of
and development of the bank are largely due.
— A verdict of $183,000^^5 returned by a Supreme Court many failures, banks all over the country suspended specie
jury at Richmond, S. I., on the 19th inst. against the estate payment. The Bank of Pittsburgh, in common with all
of the late August Prentice, President of the Bank of Staten other banks of the city, was prevailed upon to sign the
Island, at Stapleton, which was placed in receivers’ hands formal resolution suspending such payment; but it reserved
in January 1904. Following the bank’s closing^as a result the right to continue to meet its obligations in gold, and the
of the suicide of Cashier Otto Ahlman, large discrepancies minutes of the directors’ meetings show that in all that trying
were found to exist. Proceedings to recover the full amount time it never did actually suspend specie payment. In 1899,
were brought against the Prentice estate by Receiver John after having been a State bank for almost ninety years, the
S. Davenport, who is also reported to have recovered $32,000 Bank of Pittsburgh became a national institution, the Gov­
ernment allowing it to retain its old name with the addition
from the Ahlman estate.
— S. Bayard Dod, President of the First National Bank of the words “‘ National Association.” In 1903 the Iron City
of Hoboken, N. J., died on the 19th inst. Mr. Dod was National and the Merchants’ & Manufacturers’ National
Banks were consolidated with the Bank of Pittsburgh, placing
sixty-eight years of age, and is reported to have been the
it
among the leading banks of the State. During the ninetyoldest trustee of Princeton University.
six years of its existence the institution has had but seven
— At a regular meeting of the directors of the National
presidents. The present incumbent, Wilson A. Shaw, was
Commercial Bank of Albany, N. Y ., on the 19th inst, Jacob
chosen to the office in 1903, when the consolidation of the
H. Herzog was appointed an Assistant Cashier.
three banks was effected. Joseph R. Pauli is Vice-President:
— The New Britain Trust Company of I New Britain, Conn.,
— William R. Christian, Cashier of the Lincoln National
representing a merger of the Mechanics’ National Bank and
Bank of Pittsburgh, Pa., died on the 22d inst. in his fiftythe Hardware City Trust Company, commenced business on
first year.
rMonday the 22d inst. The consolidated institution, as stated
— John Meckes, a Vice-President of the United Banking
March 9, has a capital of $200,000, and is officered by W . E.
Attwood, President; L. Hoyt Pease and Charles M. Jarvis, & Savings Company of Cleveland, and also of the Forest
Vice-Presidents; Frank G. Vibberts, Treasurer; and H. B. City Savings & Trust Company of Cleveland, died in Rome,
Italy, on the 21st inst. Mr. Meckes was a member of the
Boardman, Secretary.
— A meeting of the stockholders of the National Exchange Cleveland Chamber of Commerce and of the Chamber of
Bank of Providence, R. I., will be held on May 20 to act on Industry. He was sixty-four years of age.
a proposed change in the par value of the stock from $50 to
— Articles of incorporation for the Anchor Bank & Sav­
$100. The report that the capital of the bank is at the same ings Company of Cincinnati have been filed. The institu­
time to be increased is, according to the “ Providence Jour­ tion will have a capital of $50,000 and, according to the Cin­
nal,” officially denied. The bank is controlled by the cinnati papers, will cater principally to the foreign element.
Union Trust Company of Providence.
It is stated that the name “ Anchor” has been chosen not only
,— The directors of the American Trust Company of Boston because of the ideas of solidity and safety it suggests, but
(formerly known as the American Loan & Trust) on Wednes­ also because it is spelled very nearly alike in all languages,
day elected Russell G. Fessenden as President. Since Janu­ and its meaning will thus be impressed easily on the foreign
ary, when the former executive, N. W . Jordan, was elected population. Frank L. Pfaff is to be President and A. A .
Chairman of the board, T. Jefferson Coolidge Jr. had been Landesco will be Secretary and Treasurer. Mr. Landesco is
fulfilling the duties of President, having agreed to accept at present Secretary to Mayor Edward J. Dempsey, and will
the post until the election of a permanent head.
continue in that office until the end of the year, when he
— Charles W . Kellogg, President of the Berkshire Loan & will give his sole attention to the new institution.
Trust Company of Pittsfield, Mass., since 1898, died on the
— If present plans mature, another bank consolidation will
19th inst. in his sixtieth year.
take place shortly in Toledo. The National Bank of Commerce
— The directors of the Philadelphia National Bank of and the National Bank of Toledo are the institutions involved
Philadelphia,TPa.,"on’ the 24thji st. declared a semi-annual in the latest combination to be announced. The details of




A p r . 27 1907. |

THE CHRONICLE

975

on “ Legislative Tendencies,” and John M. Allen of Tupelo,
Miss., on “ The Relation of Banks to the Public.”
— The stockholders of the Olive Street Bank of St. Louis
at a meeting on Tuesday approved a proposition to increase
the capital from $100,000 to $300,000. One-half of the pro­
posed issue will go to present shareholders and the balance
to new interests. The selling price of the new stock will be
$130 per share of $100.
— C. S. Jobes, who is reported to have disposed of all but
a nominal interest in the American National Bank of Kansas
City, Mo., of which he was President, has been elected VicePresident of the Pioneer Trust Company of Kansas City to
succeed F. C. Miller. J. S. Parks will replace Mr. Jobes
— The Commercial Bank of Evansville, Ind., increased as head of the American National. John W orthington,
its capital on April 1 from $50,000 to $75,000. The proposi­ a Vice-President of the latter, is also said to have disposed
tion was ratified by the stockholders in March, and the new of his holdings in the bank.
issue sold at $110 per share, the premium being placed to the
— The Commercial & Savings Bank o f Macon, Ga., in its
surplus fund, thereby increasing it to $50,000. The addi­ statement of March 22 1907, shows deposits of $852,802, as
tional stock was taken by new interests, the old stockholders compared with $764,956 in 1906 and $546,356 in 1905;
having waived their rights to the same. The bank began the surplus and undivided profits are now reported as $58,business on March 10 1906. Its officers are John M. Funke, 655, against $46,883 in 1906 and $34,417 a year earlier. T he
President; Gustave A . Hartmetz, Vice-President, and Louis capital is $50,000 and the aggregate resources are $961,457.
E. Fricke, Cashier.
E. J. Mallary is President and J. J. Cobb is Cashier.
— The directors of the Commercial National Bank of Chi­
— The resignation of Maurice Walton as President of the
cago at their weekly meeting on the 19th inst. adopted Merchants’ Bank of Augusta, Ga., is announced. W . J.
fitting resolutions on the death of President James H. Eckels. Hollingsworth, heretofore Vice-President, has been chosen
Action toward electing a successor to the late President was to fill the vacancy until the next annual election. Charles
deferred. The board, however, created the new office of T. Pund, a director, has been elected Vice-President.
Chairman of the Executive Committee, and Franklin Mac— At the annual session of the Louisiana Bankers’ Associa­
Veigh, senior member of the directorate, was elected to fill tion, at Shreveport, on the 17th and 18th inst, a resolution
the post. The bank’s policy, it is said,will continue the] sajne was adopted endorsing and approving the action of the Ameri­
as under Mr. Eckels’s management, the creation of the new can Bankers’ Association with reference to a uniform and
office being simply part of the plan adopted when the in­ negotiable bill of lading for inter-State shipments. A com­
creased capital was decided upon. The additional capital, mittee, consisting of Sol. Wexler, Vice-President of the
$1,000,000, has been paid in, increasing the amount to $3,- Whitney-Central National Bank of New Orleans, Charles
000,000 and the surplus to a like sum.
Janvier, Vice-President of the Canal-Louisiana Bank & Trust

the proposed consolidation have not yet been fully perfected.
But it is said that arrangements have progressed far enough
to indicate that it will more than likely be consummated. It
is understood that the National Bank of Commerce will be
retained as the name for the consolidated institution, and
that S. D. Carr, the present head of the Commerce, will
continue in that capacitj7'. As enlarged, the bank will have
’ a capital of S I,000,000 and surplus of about $200,000. The
present National Bank of Commerce has a capital of $500,000
and the National Bank of Toledo a capital of $300,000. The
combined deposits of the two banks exceed $5,000,000. The
National Bank of Toledo was formerly the Holcomb National
Bank, its name having been changed in 1905.

— President Abner Smith and Vice-President Gustav F.
Sorrow, of the failed Bank of America, Chicago, on the 19th
inst. were adjudged guilty of misappropriating the funds
of the bank and sentenced to a term of from one to five years
in the penitentiary and a fine of $1,000 each. Jerome V.
Pierce, the Cashier, was also found guilty and fined $500.
In the case of Frank E. Creelman, a director, who had been
an extensive borrower from the institution, a verdict of not
guilty was returned. Motion for a new trial has been made
by counsel for the defendants. The bank closed its doors
F e b .15 1906.
— In the case of the Milwaukee Avenue State Bank, Chi­
cago, which failed about a year ago, Judge Brentano, of the
Superior Court, has allowed Receiver Fetzer $20,000 for his
services and $20,000 for attorney’s fees. The total claims
against the bank were about $4,700,000, of which 70% has
been settled to date.
— The Metropolitan State Bank has been organized in
Minneapolis with a capital of $100,000 and surplus of $10,000.
The projected bank will be managed by George C. Merrill,
President; M. R . Waters, Vice-President, and V. H. Van
Slyke, Cashier. It is to open shortly in the former quarters
of the Security Bank in the Metropolitan Building.
— The Mitchell Street State Bank of Milwaukee commenced
business on the 18th inst. at Mitchell Street and Second Ave­
nue. The new institution was organized last August. Its of­
ficers are Valentine Zimmermann, President; Sylvester J.
Wabiszewski, Vice-President, and J. F. Edgerton, Cashier.
— The program to be presented at the annual convention of
the Missouri Bankers’ Association, to be held at Kansas City
on May 22 and 23, has been completed. Addresses are to
be made at the meeting by U .S . Treasurer Charles H. Treat,
who will devote himself to “ Some Comments on the Opera­
tion of the Aldrich Law” ; Prof. James T. Young, director
of the Wharton School of Finance and Commerce, Phila­
delphia, who will speak on “ Financial Depression, Political
Agitation and the University” ; E. L. Copeland, Treasurer
of the Atchison Topeka & Santa Fe R y., on “ Prosperity a
Problem for Railroads” ; L. A. Goddard, President of the
Fort Dearborn National Bank of Chicago on “ Capital, and
Conscience” ; George E. Allen, Secretary of the American
Institute of Bank Clerks, on “ Second-hand Experience” ;
OscarJWells,JCashier^of4the Fort Worth (Tex.) National Bank,




Company of New Orleans, and W . J. Bayersdorffer, has been
appointed to co-operate with a committee of the American
Bankers’ Association in securing legislative aid for the enact­
ment of such a bill. The new officers of the Louisiana
association are President, Charles Janvier; Vice-President,
Peter Youree, Vice-President of the Commercial National
Bank of Shreveport; Secretary (re-elected), L. O. Broussard,
Cashier of the Bank of Abbeville, La.; and Treasurer, L. M.
P oole.
— The Ouachita National Bank and the Monroe National
Bank of Monroe, La., were consolidated on the 20th inst.
under the title of the first named institution. The enlarged
bank has $200,000 capital. The officers are T. E . Flournoy,
President; F. G. Hudson, Vice-President; O. B. Morton,
Cashier; J. T. Austin, Assistant Cashier.
— The Hunter-Phelan Savings Bank & Trust Company of
Fort Worth, Tex., is now operating under its new title of
the Waggoner Savings Bank & Trust Company. The change
in name was incident to the acquisition of controlling interest
in the institution by W . T. Waggoner, the new President,
and his associates.
— The Colorado Bankers’ Association will hold its annual
gathering on June 27 and 28 at Fort Collins.
— May 16, 17 and 18 have been selected as the dates for
the annual convention of the California Bankers’ Association.
The meeting will be held at Santa Barbara.
— The annual meeting of the Oregon Bankers’ Association
is to be held at Portland on June 14 and 15.
— Under the name of the Union Exchange Bank, a new
financial institution opened for business in Los Angeles at
Ninth and Main streets on the 15th inst. The authorized
capital of the bank is $100,000, of which $50,000 has been
paid in. The par value of the stock is $100 per share. C. J.
Goodenow is President; B. L. Vickory is Vice-President, and
Guy H. Wood is Cashier.
IM PORTS A N D EXPORTS OF GOLD A N D SILVER AT
S AN FRANCISCO.
The Collector of Customs at San Francisco has furnished
us this week the details of imports and exports of gold and
silver through that port for the month of March, and we
give them below in conjunction with the figures for preced-

976

THE CHRONICLE.

ing months, thus completing the results for the nine months
of the fiscal year 1906-07. The imports of gold were of
strictly moderate volume, reaching $127,583, all bullion
and gold in ore. Of silver there came in $208,274, mainly
bullion and silver in ore. During the nine months there was
received a total of $13,740,816 gold and $2,744,229 silver,
which compares with $2,180,311 gold and $1,886,363 silver
in, 1905-06. The shipments of gold during February were
nil, and the exports of silver were $3,995 coin. For the nine
months the exports of gold coin reached only $16,735, against
$5,401,119 in 1905-06, and $1,644,606 silver was sent out,
against $8,677,546 in 1905-06. The exhibit for March and
for the nine months is as follows:
IM P O R T S O F

G O L D A N D S IL V E R A T S A N F R A N C IS C O .
Gold.

Silver.

Months.
Coin.
1906-07.

$

Bullion.
$
409,271
408,437
147,945
238,915
270,030
287,457
218,546
198,013
127,583

Total.
$
409,271
4,595,527
149,725
5,289,961
1,729,980
288,339
952,342
198,038
127,583

A ugust______ ______ 4,187,090
1.780
Septem ber...............
O cto b e r___________ 5,051,046
N ovem ber________
1,459,950
932
Decem ber _________
January __________
733,796
25
February _________
M a r c h ....... ...............
L*
Total 9 m onths. . 11,434.619 2,306.197 13,740,816

Coin.
S
“ 26", 303
4,746
31.960
37,080
52,700
33.176
2,555

Bullion.
$
174,189
356,370
255,321
313,186
209,603
324,735
252,327
282,809
205,719

Total
$
174 189
356 370
281 624
317,932
241,563
361,815
305,027
315,985
208,274

L188.520 2,374,259 2,562,779
4-

E X P O R T S OF GOLD AN D S IL V E R FR O M SAN FR AN CISC O.
Gold.

Silver.

Months.
Coin.
1906-07.
J u l y _______________

$
1,055

Septem ber_________
O cto b e r ....................
N ovem ber ................
D e ce m b e r ................
January __________
February .............. ..

3.460
1,150
1.470
500
500
1,500

Total 9 m on th s ..

9,635

Bullion.
'•« $
2,080
2,420
" 2 ,600

7,100

Total.
$
1,055
5,540
3,570
1.470
3,100
500
1,500
16,735

Coin 3 [B ullion.
$
3,228
1,315
56,450
87,068
134,848
249,803
276,442
3,995
853,368

$
419,762
116",000
94.000
67.000
67.000
27,476

Total.
422,990
1,310
172,450
181,060
201,848
107,219
277,279
276,442
3,995

791,238 1,644,606

p * anctitvij §C omm crci<il uat islt Jtexu*
(From our own correspondent.)

[V o l . l x x x i v .

drawals for New York which made it necessary to protect
the reserve of the Bank of England. When New York
withdrew from competition it was recognized that all serious
danger was over. As a matter of fact, the Bank has during
the week ended Wednesday night increased its stock of gold
by £1,115,931, the total stock now being £34,345,713.
The general opinion is that all the gold offering in the mar­
ket will be taken by the Bank for some time to come, and
that, therefore, it will rapidly increase in strength. The
Imperial Bank of Germany will probably not venture to
make a change for some weeks. At the end of March the
note circulation of the Imperial Bank exceeded the legal
maximum by over 20 millions sterling. In the first week
of March the return of notes was so large that the excess was
brought down to about half of what it was on the preceding
Saturday. If notes continue to flow back as rapidly as that,
in a week or two the whole excess will have disappeared,
and then the general impression is that the Imperial Bank
of Germany will follow the example of the Bank of England.
That the latter has been able to take the step is mainly due,
of course, to the promptitude with which Mr. Cortelyou
has put in force the Aldrich Act. London has watched his
course with much interest, and his reputation here has risen
very greatly.
The Board of Trade returns for March, as will be seen
from the tables below, continue to show most satisfactory
increases. The value of the imports for the month was
£57,738,731, an increase of £4,477,101, or 8.4% over the
corresponding month of last year. The value of the exports
of British and Irish produce and manufactures increased
£3,071,872, to £34,723,034, or 9.7% . The value of the re­
exports of foreign and colonial produce was £8,110,260, an
increase of £833,863, or 11.6% . The value of the imports
in the first quarter of the year increased 11%; the value of
the exports of British and Irish produce and manufactures
increased 11.7% , and the value of the re-exports increased
15.6%.
The India Council offered for tender on Wednesday 70 lacs
of its bills, and the applications exceeded 660 lacs, at prices
ranging from Is. 4 3-32d. to Is. 4 3-32d. per rupee. Appli­
cants for bills at Is. 4 3-32d. and for telegraphic transfers
at Is. 4 5-32d. per rupee were allotted about 10% of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, & c.,
compared with the last four years.
1907.
A pril 10.

1906.
A p ril 11.

£

1905.
A p ril 12

£

1904.
A p ril 13.

£

1903.
A p ril 15.

£

Circulation_________ 28.771,900 29,260.795 28,682,005 28,366.265 29,060,995
8,007,759
8.569.638
Public deposits____ 9,101,645 10,145.721 10,402,156
Other deposits_____ 48,568,233 44,658,624 41,421,239 42,936,848 39,374,239
G ovem m ’ t securities 15,447,423 16,112,581 15,445.306 19,883,980 14,524,291
Other securities____ 34,965,151 32,307.687 26,675,206 25,281,788 27.807,386
-Reserve,notes& coin 25,134,744 24,200.860 27,515,436 24,142,795 22,838,712
Coin & bull.,both dep 35,456,644 35.011.655 37,707,441 34,039.060 33,724.707
Prop, reserve to lia­
bilities______ p. c.
43)4
53
44)4
4
Bank rate......... p. c.
4)4
*3)4
2)4
91 7-16
Consols, 2)4 p. c ___
86M
91
23d.
30d.
24 7-16d.
S ilv e r _____________
29 % d .
26^d.
Clear.-housereturns254,683,000 266,009,000 210,891,000 202,223.000 128,774,000

London ,*Saturday, April 13 1907.
The reduction of its rate of discount by the Bank of Eng­
land this week has produced a very much better feeling at
48X
46%
home and abroad, but up to the present time it has not much
3X
90%
88
X
increased the amount of business. There is, indeed, some
improvement in business, but as yet it is slight. The gen­
* April 14.
eral expectation amongst the most capable observers is that
The rates for money have been as follows:
we shall see much more active markets before long, with a
March 28.
March 22.
A p ril 5.
rising tendency, but that for the time being the outside public Bank ol England rate_______ A p ril 13.
5
5
5 1-16 @ 5)4
4 )4
is holding back, firstly, until it is known what the Chancellor Open Market rale—
Bank bills— 3 m onths____
5 1-16 @ 5)4
5 @ 5 1-16
3)4
454
of the Exchequer will propose in his Budget statement,
— 4 m onths____
5 @ 5)4
5 @ 5 1-16
4%
3)4
— 6 m onths____
5)4 @ 5 Va.
5
3)4
which, it may be added, will be made on Thursday next.
Trade bills— 3 m onths____
4@ 4M
5
5)4 @ o H 5 H @ 5 %
— 4 m onths____
4@ 4M
5
5H @ 5 % 5)4 ®5>A
Secondly, the public is waiting for a clearer explanation of
Interest allowed 1or deposits—
Joint-stock banks_______
3
3)4
3H
3)4
the policy of the new Government in the Transvaal. So BB yy discount
houses:
A t c a l l _________________
3
3ki
3)4
3)4
far as that policy is understood, it has made a favorable im­
7 to 14 days____________
3%
3%
3 »A
3)4.
pression. But before active buying begins, a little more
The Bank rates of discount and open market rates at the
light is desired.
chief Continental cities have been as follows:
Over and above this, the public is not yet quite satisfied
M arch 22.
March 30.
A pril 13.
A p ril 6 .
that the liquidation is ended in New York. And, in the
Bank
Open
Rates 0/
Bank Open
Bank Open
Bank Open
Interest at—
Rale. Market. Rate. Market. Rale. Market. Rate. M arket.
last place, there is some apprehension that speculation has Paris-------------------------- 3)4 3M
3H
3H
3)4
3H
3%
314
6
6
6
5H
4V%
5H
been carried much too far in Germany. In Paris there is a BHerlin________________
am burg____________
6
6
6
5%
b%
4%
F r a n k fo r t___________
6
5)4
554
6
4 11-16 6
b%
decidedly better feeling. When the new French Ambassa­ Amsterdam
SH
_________ 6
6
6
554
b%
5
4)4
5
4)4
dor was received by the German Emperor the other day Brussels ____________ 5
4H
4)4
4
H
4
7-16
Vienna _____________
4)4
4%
4 5-16
4)4
4 )4
7
7
the latter made an address which has given much satisfaction St. Petersburg_______ 7
7
4
M adrid........................... 4)4
4
4)4
4
4
4)4
414
in Paris. Also, there are strong hopes that in spite of occa­ Copenhagen--------------- 6
6
5H
6
6
5H
5)4
5H
sional hitches the Russian Government and the majority
Messrs. Pixley & Abell write as follows under date of
of the Duma will come to an arrangement. There has already
been a considerable rise in Russian securities, and the general April 11: ,
G O LD .— The position ot the Bank h as materially im proved this week, as they were
belief is that the rise will be continued. As the week draws able
to secure the balance of last w eek’s gold which w as purchased for Am erica,
to a close the Paris Bourse has given way somewhat because amounting to £450,000, and in addition have bou gh t all this w eek’s arrivals of about
of the fall in copper, but the best opinion is that the decline £250,000. The price is now down to 77s. 9d. S ince our last the Bank has received
o f which £1,227,000 was in bars. The w ithdrawals total £200,000. o f
will prove very temporary. The reduction of the Bank of £1,367,000,
which £ 100,000 is for E g ypt. £562,000 is expected to arrive next week from South
England rate, too, has encouraged the hope that the Bank Africa. The Bank rate, which was fixed at 5% on Jan. 17, was to-day reduced to
) 4 % . F or the week: Arrivals—Cape, £364,000: Australia. £ 136.000; total. £ 500.of France will put down its rate of discount before long 4000.
Shipments— B om bay, £73,625: Calcutta, £30,000; to ta l, £103,625. For the
and generally upon the Continent, as well as in London, m onth of March: Arrivals— France, £62 1,00 0; E gypt, £550,000; Brazil, £33,000;
South Africa. £1,793,000; India, £158,000. Shipments— France, £96,000; B ra z il.
the expectation is that we are now entering upon a period £653,000;
Argentine, £952,000; India, £572.000.
of comparatively cheap money which will last for several
S IL V E R .— The market in silver has been steadier, and we have risen )4 d . during
months.
the week. At one time we rose to 30J<£d., on a good Indian dem and, bu t. this b e ­
satisfied, the market reacted and we close at 3 0 )4 d . . with a steady to ne. There
The directors of the Bank of England on Thursday last ing
have been considerable forward sales b y India, but these have been easily absorbed
lowered their rate of discount from 5% to 4 3^%. As soon and the forward price, which has been as much as 7-16d. under cash, closes a t2 9 % d .
an upward tendency. The position In China is much firmer. The Indian price
as the gold bought for New York in the previous week was with
is R s. 7514 per 100 Tolahs. For the week: Arrivals— New Y ork, £ 93,000. Ship­
re-sold to the Bank of England, the city generally jumped ments— Bom bay, £12,000; Colom bo, £850; Calcutta. £68,000; Straits (coin ). £ 3 1 ,to the conclusion that the Bank of England rate would 500; total, £112,350. F or the month of March: Arrivals— France. £14 .000 ; U .S . A . .
Shipments— France, £42,000; Brazil. £46,000; India. £ 1 ,5 6 6 .0 0 0 ;
have to be put down. It was the fear of large gold with­ £1.193.000.
S traits.£14 8.00 0. •
• •• • ■




A p r . 27 1907.]

M E X IC A N D O L L A R S .— There have been a few transactions in dollars at their
melting value. £55 ,000 has com e from Am erica and £25,000 has been shipped to
Calcutta.

The quotations for bullion are reported as follows:
G O LD .
A p r.
A p r. 4. 1
S IL V E R .
A p r. 11.
London Standard.
s. d.
s. d. \ London Standard.
d.
77 9 % |Bar silver, fine, o z ____ 30%
Bar gold, fine, o z -------- 77 9
U. S. gold coin, oz ------ 76 4% 76 5% I “ 2 m o. delivery, o z .29%
German gold coin, o z . . *76 4% *76 5% ICake silver, o z . .............32*4
French gold coin, o z ___*76 4% *76 534 IMexican dollars_______ nom .
Japanese yen, o z ......... *76 4% *76 5% I

A p r. 4
d.
30 1-16
29%
32 7-16
nom .

* Nominal.

The following shows the imports of cereal produce into
the United Kingdom during the^season to-date compared
with previous seasons:
IM PO RTS.
Thirty-two weeks.
1906-07.
Im ports o f wheat.......................cw t.51,130,100
Barley .................................................15,659,300
O ats....................................................... 6,601,600
Peas....................................................... 1,216,480
Beans ...................................................
599,440
Indian c o m . ........................................ 31,482,700
F l o u r ................................................... 8,540,600

1905-06.
49,048,600
15,448,100
7,843,400
1,192,645
501,650
29,773,100
9,685,200

1904-05.
64,148,500
15,854,000
8,309,600
1,427,641
1,137,440
27,269,000
7,323,320

1903-04.
54,246,321
23,116,068
10,133,198
1,479,818
1,575,579
32,032,154
14,297,087

Supplies available for consumption (exclusive of stock on
September^):
_
1906-07.
W heat im ported.........................cwt.51,130,100
Im ports of flour............................... . 8,540,600
Sales of hom e-grown........................18,789,000

1905-06.
49,048,600
9,685,200
23,707,142

1904-05.
64,148,500
7,323,320
11,174,S35

1903-04.
54,246,324
14,297,084
12,635,722

. Total ...............................................78,459,700
Average price wheat, week..........__
26s. 9d.
Average price, season.......................
26s. 4d.

82,440,942
28s. 7d.
28s. Id .

82,646,655
30s. 9d.
30s. 4d.

81,17^,127
27s. lOd.
27s. 2d.

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week.
W heat ........................................ qrs. 3,805,000
Flour, equal t o ...........................qrs.
205,000
Maize .......................................... qrs.
390,000

Last week.
3,945,000
190,000
460,000

1905-06.
3,850,000
175,000
460,000

1904-05.
3,770,000
135,000
375,000

The British imports since Jan. 1 have been as follows:
1907.
Imports.
£
J a n u a ry ............................................... 60,540,508
F eb ru a ry ............................................ 52,927,347
March ................................................. 57,738,731
Three months............................... 171,192,542

1906.
£
53,474,333
47,527,253
53,261,630
154,241,732

Difference. P e r C t,
£
+7,0 66,1 75 + 1 3 .2
+ 5 .4 00,0 94 + 1 1 .3
+ 4,477,101
+ 8 .4
+16,950.810

+ 1 1 .0

The exports since Jan. 1 have been as follows:
1907.
Exports.
£
£
J a n u a ry............................................... 35,070,607
F e b ru a ry ............................................ 32,073,345
March ................................................. 34,723,034
T h re e m o n th s ............................... 101,866,986

1906.
£
30,774,811
28,771.123
31.651,162

Difference.

Per Ct.

+ 4,2 95,7 96
+ 3,3 02,2 22
+ 3,0 71.8 72

+ 1 4 .0
+ 1 1 .5
+ 9 .7

91,197,096

+ 10,669.890

+ 1 1 .7

The re-exports of foreign and colonial produce since Jan. 1
show the following contrast:
Re-exports.
Ja n u a ry...............................................
F eb ru a ry............................................
March .................................................

1907.
£
8,793,276
9,425,830
8,110,260

1906.
£
7,445,855
7,995,860
7,276,397

Difference.
£
+ 1,3 47,4 21
+ 1,4 2 9 ,9 7 0
+ 8 33,863

Per Ct.
+ 1 8 .2
+ 1 7 .8
+ 1 1 .6

T h re e m o n th s ............................... 26,329,366
22,718.112
+ 3,6 11,2 54 + 1 5 .6
N ote.— The aggregate figures are official. They indicate that slight adlustments
have been made in the m onthly returns as Issued.

English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London
as reported by cable have beenas follows the past week:
London,
~ .rr* -vaga
Week ending A p ril 26.
Sat.
” M on.
Tues.
Wed.
Thurs.
Fri.
Silver, per o z . . . ................ . d . 30 3-16 30%
30% 30 5-16 30 5-16
30 5-16
Consols, new, 2 % per c e n t s .. 85 11-16 85 13-16 85% 85 13-16 85 11-16 85 9-16
F o r a c c o u n t ......................... 85 13-16 85% 85 13-16 85%
85%
85%
French rentes (in P a r is )..fr . 94.40
94.42 % 94.60 94.50
94.57% 94.55
Russian Imperial 4s................ 75
74%
74%
74%
75%
75
do
do
new 5s_. 85%
85
84%
85%
86%
85%
Amalgamated Copper C o____ 96%
97
99%
100
98%
97
6,Anaconda Mining C o............12%
12%
13
13
12%
12%
Atchison Topeka & Santa Fe 96%
97%
98%
98
97%
98
Preferred ............................. 98
98
98%
98%
98%
98%
Baltimore & O h io ................... 100%
101%
103
103
102
102
Preferred ............................. 93
93
93
93
93
93
Canadian Pacific.......................180%
181
181%
181%
181%
181%
Chesapeake & O hio................ 42%
42%
43%
43%
43%
43%
Chicago Great W estern..........13%
13%
13%
' 13% 13
11%
Chicago Milw. & St. P a u l . . . 137%
138%
140%
140%
139%
140
D enver & R io Grande, com . _ 31
31
31
30%
29%
30%
Preferred ............................. 77%
77%
77%
77%
77%
77%
Erie, com m on...........................24%
24%
25%
25%
24%
24%
First p referred ..................... 56
56
57%
58
58%
56%
Second p referred ------------- 38%
38
40
39%
40
39
Illinois C en tral........................ 150
150
150
151%
152
151
Louisville & Nashville............120%
121
124
123%
123%
123%
22
22
22%
22
22%
Mexican Central-.................... 21%
Missouri K an. & Tex., com . . 37%
37%
38%
38
37%
38
Preferred ............................. 69
69
69%
69%
69%
67%
N ation a lR R . of M exico..........54%
54%
54%
54%
54%
54%
N. Y . Central & Hud. R iver. 122%
122%
123%
123%
122%
122%
N. Y . Ontario & W e s t e r n ... 39%
39%
39%
39%
39%
39%
Norfolk & W estern, com m on 77
77%
79
• 79
79
79
Preferred .............................82%
82%
82%
82%
82%
82%
Northern Pacific...................... 135
138%
140
139%
138
138
a Pennsylvania......................... 64
64%
65%
65%
65
65
a Reading Co............................. 54%
55%
57%
57%
56%
57
a First preferred__________ 44
44
44
44
44
44
o Second preferred..............43%
43%
43%
43%
43%
43%
R ock Island C o......................... 22
22%
22%
22%
22%
22%
Southern Pacific....................... 85
86
87%
87%
86%
87%
Southern R y ., com m on......... 21%
22
22%
23
22%
22%
Preferred ............................. 67
67
69%
69%
69%
69%
Union Pacific, com m on..........140%
142%
145%
146%
145%
148%
Preferred ............................. 89%
89%
89%
89%
89%
89%
U . S. Steel Corp., c o m m o n .. 38%
39
39%
38%
38%
38%
Preferred ............................. 103%
103%
104%
104%
103%
104%
W abash .................................... 14^
15
15
15
141^
14^
Preferred ............................. 26
26
26%
27
27
26%
Debenture B s.......................64%
64%
64%
66%
66%
66%
a Price per.share.




6 £ Sterling.

977

THE CHRONICLE

DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations.
Dividends announced this week are -printed in italics.
Name of Company.

Cent.

Payable.

Books Closed.
Days Inclm ive.

Railroads (Steam)
Atchison Topeka & Santa Fe, com m on.
June
3
to
June 2
1 May 11
Atlantic Coast Line R R ., preferred____
May 9
to
2% May 10 May 2
Central R R . of New Jersey (qu ar.)____
2
May
to
April 30
1 April 19
Great Northern (qu ar.)..... .......................
to
M ay 5
1% May
1 April 18
Kansas City Southern, preferred_______
July
July 1
4
to
1 June 11
Missouri Kansas & Texas, preferred____
May 10 Apr. 21
2
May 9
to
Norfolk & Western, common____________
2 % June 19 Holders of rec. May 31
Northern Pacific (qu ar.)________________
to
May 1
1 Apr. 11
1% May
Reading, second preferred.........................
May 10 Holders of rec. A pr. 23
2
Rich. Fred. & P o l. & Rich. & Pet.
Connection __________________________
May
to
5
1 April 26
April 30
Richmond Fred. & Potomac, guar_______
to
April 30
1 April 21
4% May
Rom e W atertown &Ogdensb.,guar.(qu.)
1% May 15 Holders of rec. May 1
Street Railways.
May
Cape B reton Electric C o., L td., preferred
S3
1 Holders of rec. Apr. 15
Columbus (O .) R y . , preferred (q u a r .)..
] Holders of rec. April 15
1 % May
D etroit United Railway (quar.)_________
to
May 1
1 Apr. 16
1% May
East St. Louis & Sub. pref. (quar.)_____
1 Holders of rec. A pr. 15
1% May
Georgia R y . & Electric, Atlanta, c o m .. 33 1-3 & May 20 Holders of rec. May 10
Grand Rapids (M ich.), R y .p r e f. (quar.)
1 Holders of rec. April 15
1% May
Milwaukee E l.R y .& L t.,p f.(q u .) (N o. 30)
1% April 30 Holders of rec. April 20
Montreal Street Railway (q u a r .)______
2 % May
1 Holders of rec. Apr. 12
Ohio Traction (Cincinnati), pref. (guar.).
to
April 30
15 April 26
1% May
Philadelphia Company, com m on (quar.)
to
May 1
1 Apr. 2
1% May
Tampa (Fla.) Electric C o______________
May 15 Holders of rec. May 1
5
T oledo Railways & Light______________
May
to
May 1
1
1 Apr. 21
TwinCityRap.Tran. (Minneap.) com . (qu)
1(4 May 15 Holders of rec. A pril 30
Union St. R y. (New Bedford) (guar.)____
1
2
W est Penn R y s. (P ittsb.), pref. (q u a r.).
to
May 1
1 April 28
1% May
Banks.
American Exchange National _________
May
5
1 Holders of rec. April 23
Bowery ( q u a r .)................ ............................
May
3
to
May 1
1 April 28
Chemical National (bi-monthly)________
to
April 30
2 % May
1 April 26
City, N a tio n a l..________________________
4
May
to
April 30
1 April 26
Fourteenth Street (quar.)________________
to
M ay 1
1 April 28
2 % May
G erm a n ia ______________________________ 10
May
to
1 April 21
May 1
Greenwich_______________________________
May
to
April 30
5
1 April 21
Lincoln National (guar.)________________
4
May
1 Holders ol rec. April 25
Mount Morris__________________________
May
4
to
1 Apr. 21
Nassau (No. 108)_______________________
4
May
1 Holders of rec. April 30
2
May
to
April 30
Pacific (guar.) . _____ _________ __________
1 April 24
Trust Com panies.
May
to
B ro a d w a y_______ ______________ <_______
3
6 April 25
May 6
10
May
to
Farmers’ Loan & Trust (q u a r .)._______
May 4
1 April 21
Hamilton (g u a r .)_______________________
2 % May
to
April 30
1 April 26
Kings County, Brooklyn (quar.)..............
May
to
April 30
3
1 April 26
1 April 14
to
May
1
Lawyers' Title Insurance & Trust_______
May
3
Nassau, Brooklyn (quar.)_______________
2
May
to
1 Apr. 28
May 1
M iscellaneous.
to
May 5
Am algam ated Copper (quar.)__________
1% May 27 Apr. 26
to
Extra ............. ...........................................
May 5
% May 27 Apr. 26
American Caramel, com m on (qu ar.)___
1 Holders of rec. April 10
1% May
Com m on, extra___________ _____ _____
1 Holders of rec. April 10
% May
Am er. Dist. Teleg. of N . Y . ................ ......
May 15 May 4
to
1
May 15
Am er. Gas & E lec., pref. (guar.) (N o. 1 ).
to
May
1
1 April 26
1% May
to
E x t r a ............................... ..................... —
May
1 April 26
May
1
(I)
Am er. Graphophone, pref. (qu.) (N o.48)
1% May 15 Holders of rec. May 1
to
Am er. Light & Traction, com . (q u a r .)..
Apr. 30
1 Apr. 21
1% May
to
Preferred (quar.)_______ ‘____________
1 Apr. 21
Apr. 30
1% May
American Locom otive, com m on (q u a r.).
to
May 26
1% May 27 May 11
May
to
Bergner & Engel Brewing, preferred___ S4
1 April 21
May 1
May
to
May 1
Preferred, extra______________________ $4 k
1 April 21
May 10
to
British Columbia Packers’ Asso., p r e f ..
May 20
3% € May
B utteElec. <Sc V ow ., pref. (guar.) (No. 23)
1 Holders of rec. April26a
1% May
May 10 May 1
to
Casein Co., pref. (guar.) (N o. 2 8 )............
2
May 9
Central Dist, & Print. Teleg. (qu ar.)___
to
Apr. 30 Apr. 24
2
Apr. 30
Apr. 27 Apr. 26
Century R ealty_________________________
to
Apr. 28
5
Chicago Edison (guar.)__________________
2
May
to
A pril 30
1 April 21
to
City Investing__________________________
May 15 May 1
3
May 16
to
Claflin (H . B .) first preferred (qu ar.)___
May 1
1 Apr. 23
1 % May
to
Second preferred (quar.)........................
May 1
1 Apr. 23
1H May
to
April 30
Consolidation Coal (qu ar.)_____________
1% April 30 April24
du Pont (E .l.)d eN em oursP ow .,com .(qu)
to
1% June 15 June 6
Eastman K odak, com m on (extra).........
May
to
May 2
1 Apr. 16
5
Edison Elec. 111., Boston (quar.) (N o.72)
2 % May
1 Holders of rec. A pr. 15
to
2 % May
A pril 30
Electrical Securities C orp., pref..................
1 April 26
to
May 1
Electric Bond & Share, pref. (qu ar.)___
1 April 17
1% May
to
Federal Sugar Refining, pref___________
May
April 30
3h
1 April 27
to
M ay 1
International Nickel, preferred ( q u a r .)..
1 Apr. 11
1% May
May 15 Holders of rec. April 30
Int. Smokeless Powder & Chem., pref___
4
to
May 1
Internat.Steam P u m p ,pref.(qu.)(N o.32)
1 April 20
1% May
to
May 1
Lord & Taylor, common (guar.)..............
2
May
1 April 26
Montreal Light, H eat & Power (q u a r .)..
1% May 15 Holders of rec. April 80
to
M unicipal Gas. Albany (guar.)_________
April 30
2 % May
1 April 26
to
National Carbon, pref. (guar.)..................
May 15
1% May 15 May 5
N ational Glass, preferred (qu ar.)______
1% Apr. 29 Holders of rec. Apr. 25
to
May
1
New Central C o a l.......................— ............
May
2
1 April 27
New England Cotton Yarn, pref. (guar.).
1 Holders ol rec. April 27
1% May
to
New England Telephone & Teleg. (qu.)
May If 6
1 % May 15 Apr. 22
New R iver Com pany, preferred (qu ar.).
1 Holders ol rec. Apr. 25
1% May
N orth American Co. (qu ar.)....... .......... ..
1 Holders of rec. May 15
1% June
to
Pacific Coast, com m on_________________
May 1
1 April 16
1% May
to
May 1
First preferred (qu ar.)______________
1 April 16
1 % May
to
Second preferred (quar.)____________ _
May 1
1 April 16
1% May
April 21
Pennsylvania Steel, preferred ............. ......
3% May
1
to
Pocahontas Collieries, pref. (guar.)______
April 30
1 April 27
1% May
to
May 21
Pressed Steel Car; prel. (guar.) (No. 3 3 ).
1% May 22 May 2
3
Procter & Gamble, com m on (qu ar.)-----lfS
Pullman Company (guar.) (No. 161)-----2
May 15 Holders of rec. April 30
May
l! Apr. 11
to
Tennessee Coal. Iron & R R ., com .(quar.)
M ay 7
1
May
to
M ay 7
Preferred (qu ar.)____________________
2
1 Apr. 11
to
United Bank Note C orp.. com. (guar.)___
May
May 15
1
15 May 2
to
United Copper, com m on (qu ar.)_______
Apr. 29
1% Apr. 29 Apr. 17
May
to
May 15
Preferred ......... .........................................
3
15 May 11
United Electric Securities Corp., p r e f .. .
1 Holders of rec. April22a
3% May
to
1 April 21
April 30
U. S. Bobbin & Shuttle, com . (qu ar.)___
May
1
to
1 April 21
Preferred (qu ar.)____________________
April 30
1% May
to
ljM ay 2
May 31
June
U. S. Cast I. Pipe & F d ry., com . (quar.)
1
to
Preferred (qu ar.)....... .......... ............ ......
1 May 2
May 31
1% June
to
2
May 15 May 1
United States Express (N o. 147)_______
May 15
i;A p r. 25
to
May 1
U. S. Realty & Im provement (q u a r.)___
1% May
United States R ubber, first pref. (quar.)
Apr. 30 Holders of rec. A p r .l5a
2
Second preferred (qu ar.)................ ......
1% Apr. 30! Holders of rec Apr. 15a
May 15 (May 1
to
3
May 15
W arwick Iron & Steel.................................
to
1: April 16
April 30
Washington (D . C.) Gas Light (guar.)___
2 % May
to
W orthington (H . R .) In c.. preferred___
ll April 20
May 1
3% May
a Transfer books not closed, b Payable in com m on stock at par. e On account
of back dividends— covering period from May 20 to N ov. 20 1905. h On account of
over-due dividends, i Correction, k On account of deferred dividends.
JA t rate o f 6% per annum for period from Jan. 16 to Feb. 1 1907.

Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Mess/s. Adrian H. Muller & Son:
10
15
65
50
32
465
10

S tock s.
I
B o n d s.
C arn egie T r u s t C o __________2 3 5 % $7,0 0 0 P a rk & T llfo r d D eb.
K ic k B a k in g C o .......................66
S. F . 193 6. J . & D ...........*100 & in t .
S u b u r . A u to & G a r a g e Co. $66 lo t $2,000 C h a te a u g a y O re &
U n io n F e rry C o ____________ 30
Ir o n C o . R e f . 4 s , 194 2,
M e rca n tile N a t. B a n k _____ 235
J . & J ___________________ _ 95 & in t.
S elm a W a t e r C o ___________ $51 lo t
T r u s t C o . o f A m e r ic a _____ 7 3 2 % i

978

THE CHRONICLE.

[V o l . l x x x iv .

New York City, Boston and Philadelphia Banks.— Below
Statement of New York City Clearing-House Banks.—
The following statement shows the condition of the New is a summary of the weekly returns of the Clearing-House
banks of New York City . Boston and Philadelphia. The New
York City Clearing-House banks for the week ending April York figures do not include results for non-member banks:
20. It should be distinctly understood that as to all items
W e omit two ciphers (00) in all these figures.
except capital and surplus the figures are the averages of the
Capital
daily results, not the totals at the end of the week. In
Banks.
and
Loans.
Specie.
Legals. Deposits, a Circu­ Clearings
other words, in reporting loans and deposits and holdings of
lation.
Surplus.
specie and legal tenders, the practice is to take the aggre­ New York
S
S
$
S
$
$
$
2 3 .. 281,286.7 1049,989,6 1S4.974.4 70.271,2 1002,144,6 50,920,3 2,095,084.2
gate of the amounts for the several days of the week and Mch.
Mch. 3 0 -. 283.157.9 1056,545,2 195,659,7 72,425,9 1019,817,3 50,820,0 1.994,438,6
Apr. 6 - . 288,090,5 1062,688,8 206.958,0 71.661.5;1036,713.1 50,398.8 2.006,935.3
divide this aggregate by the number of davs.
Apr. 1 3 .. 288,090,5 1099,657,1 212,966,3 73,302,111081,661,9 50,238,6 1,881,534,4
W e omit two ciphers (00) in all cases.
Banks
00s omitted.

Capital.

Surplus.

$
B ank o f N. Y . .
2,000,0
Manhattan C o.
2,050,0
2,000,0
M erchants’ ____
Mechanics’ ____
3,000,0
A m e r ic a ______
1,500,0
P h e n ix _______
1,000,0
C i t y ----------------- 25,000,0
C h em ical-..........
3,000,0
Merchants’ ____
600,0
G allatin_______
1,000,0
Batch. &D rove’s
300,0
M ech.&Traders’
2,000,0
G re e n w ic h ____
500,0
Am er. E x ch ___
5,000,0
Com m erce_____ 25,000,0
M e rca n tile ____
3,000,0
Pacific ______
500,0
Chatham ............
450,0
People’s ____
200,0
N orth A m erica.
2,000,0
H a n o v e r___. . .
3,000.0
Citizens’ C e n t..
2,550,0
N a s s a u _______
500,0
M arket & F ult’n
1,000,0
M etropolitan . .
2,000,0
Corn Exchange
3,000,0
O r ie n t a l______
750,0
Im p. & Traders’
1,500,0
P a r k __________
3,000,0
East R iv er____
250,0
Fourth ..............
3,000,0
Second ____ .
500,0
First .................. 10,000,0
Irving Nat. E x .
2,000,0
Bow ery ______
250,0
N . Y . C o u n ty ..
200,0
Germ an-Amer .
750.0
Chase__________
5,000,0
Fifth A v e n u e ..
100,0
German E x c h ..
200,0
G erm an ia.........
200,0
L in c o ln ___
500,0
G a r fie ld ______
1,000,0
F i f t h __________
250,0
M e tro p o lis ____
1,000,0
W est Side_____
200,0
Seaboard______
1,000,0
1st N at., Bklyn
300,0
Liberty ..............
1,000,0
N . Y . Prod. E x.
1,000,0
N ew Am sterd’ m
1,000,0
State __________
1,000,0

S
2,987,4
2,908,8
1,557,6
3,679,4
4,080,5
430,1
22,552,8
5,634,7
503,7
2,411,3
160,6
910,3
698,6
4,983,7
14,945,0
5,028,2
784,0
1,048,4
469,5
2,295,3
8,389,8
966,0
346,7
1,541,4
890,7
4,834,2
1,204,8
7,130,7
8,415,3
124,4
3 ,1 6 !,6
1,900,2
19,981,1
1,038,2
779,9
841,6
604,0
4,595,2
1,894,9
831,4
944,6
1,500,4
1,369,1
458,5
1,718,0
852,7
1,357,2
699,2
2,291.1
626,5
284,8
611,4

Loans.

Specie.

Legals. Deposits, a Re­
s’ n e

$
$
18,133,0
2,777,0
21,719,0 10,083,0
13,952,3
3,009,5
20,775,0
3,022,0
23,624,7
4,508,9
8,150,0
1,903.0
154,383,1 28,286.1
26,302,0
5,349,8
6,165,0
1.276,7
904,9
8,283,3
2,365,2
505,4
16,643,0
3,450,0
5,987,0
1,053,1
28,039,8
4,410,0
140,115,0 20,532,2
20,770,4
3,565,6
3,202,5
479,1
5,627,6
599,3
2,204,5
340,2
17,491,5
3,262,6
59,174,2 10,739,5
20,920,4
3,456,9
3,576,9
357,1
7,409,4
1,554,2
10,690,7
2,130,2
37,678,0
6,859,0
10.142,3
1,910,5
4,176,0
25,478.7
76,681,0 18,567,0
1,299,7
264,2
20,295,0
3,394,0
10,412,0
1,160,0
96,080,3 19,494,9
16,817,1
3,693,4
3,401,0
744,0
994,1
5,682,3
3,808,6
638,4
53,972,6 13,849,3
10,119,5
2,254,1
3,438,0
190,0
4,899,7
836,7
15,659,5
2,305,5
7,717,2
1,536,9
3,213,9
631,0
9,499,8
868,8
4,283,0
570,0
17,825,0
3,825,0
4,747,0
653,0
12,624,5
2,071,3
6,215,6
1,523.3
4,563,1
809,7
12,710,0
3,753,0

S
1,718,0
2,177,0
1,073,8
2,332,0
2,311,0
136,0
6,927,5
1,754,9
145,1
613,0
75,3
1,400,0
330,0
1,148,5
9,228,1
806,5
446,6
825,4
306,7
1,273,6
6,613,8
1,792,3
428,7
584,0
141,3
4,153,0
387,5
1,356,0
4,806,0
163,5
1,982,0
1,331,0
1.488,0
693,8
56,0
497,0
184,6
1,075,2
692,5
776,0
1,002,5
1,928,3
313,8
169,0
1,576,4
555,0
1,762,0
451,0
593,0
415,2
421,9
197,0

$
16,667,0
30,036,0
16,339.0
2 ),5 06,0
25,656,0
7,657,0
132,824,8
25,904,0
6,311,3
5,765,4
2,398,2
19,143,0
6,511,3
20,973,9
117,224,5
16.412,6
3,938,7
5,596,6
2,450,8
17,133,5
68,041,0
20,367,4
3,962,1
7,319,0
10,421,5
43,441,0
10,483,1
22,313,0
88,065,0
1.594.2
20,950,0
9,930,0
83,707,1
16,955,9
3,590,0
6,432,5
3,597,2
58,818,9
10,883,7
4,263.0
6.486.7
17.284,7
7,827,3
3,282,7
9,382,6
4,619,0
21,037,0
4,672,0
10.684,5
7,306,9
5,570,9
15,424,0

%
26.9
40.7
25.0
26.1
26.5
26.6
26.5
27.4
22.5
26.3
24.2
25.3
21.2
26.5
25.3
26.6
23.5
25.4
26.5
26.4
25.5
25.7
19.8
29.2
21.8
25.3
21.9
24.7
26.5
26.8
25.6
25.0
25.6
25.8
22.2
23.1
22.8
253
27.0
22.6
28.3
24.4
23.6
24.3
26.0
24.3
26.5
23.6
24.8
26.5
22.0
25.6

T o t a ls ______ 128,100,0 159,990,5 1125,004,9 215,129,473,616,3 1108,163,5 26 0
a

Apr. 2 0 -. 2S8,090;5 1125,004,9 215,129,4 73,616,3 1108,163,5 50,106,8 1,725,859,7
B oston.
Mch. 3 0 .. 43,680,0 178,166,0 16,139,0 3,913,0 201,774,0 8,473,0
171,180,8
Apr. 6 . . 43,680,0 177,128,0 17,037,0 4,224,0 209,372,0 8.511,0
185,972,2
Apr. 1 3 .. 43.6S0.0 179,053,0 17,574,0 4,482,0 213,222,0 8,495,0
170,257,6
156,333,8
A pr. 2 0 . . 43,680,0 181,796,0 18.S58.0 4.492,0 225,187,0 8.520,0
Phila.
Mch. 3 0 . . 51,165,0 219,512,0
246,100,0; 14,035,0
133,947,2
51,331,0
248,669,0 14,017,0
Apr. 6 . . 51,165,0 219,592,0
54,505,0
162,345.3
253,079.0 14,001,0
143,376,5
A pr. 1 3 .. 51,165,0 219,482,0
58,548,0
Apr. 2 0 -- 51,165,0 221,094,0
259,564,Oj 13,998,0
62,034,0
151.297,9
a Including tor Boston and Philadelphia the item "d u e to other banks” and also
Government deposits. For Boston these Government deposits am ounted on A p ril
20 to $4,234,000; on April 13 to $4,026,000.

Imports and Exports for the W eek.— The following are
the imports at New York for the week ending April 20; also
totals since the beginning of the first week in January:
F O R E IG N IM PO RTS A T N E W Y O R K .
F or week.

1907.

1906.

$2,115,790
11,018.862

$17,444,342

$16,078,381

$13,134,652

$9,974,218

$64,013,926
221,291,300

$56,498,667
185,878,123

$48,708,018
190,653,604

$41,993,880
153,606,703

$3,206,872
14,237,470

T o t a l ____________________
Since January 1.
D ry G oods__________________
General Merchandise_______
Total 16 weeks_______ . . .

1904.

1905.

$2,893,598
13,184,783

D ry G oods.................................
General Merchandise______

$1,655,042
8,319,176

$285,305,226 $242,376,790 $239,361,622 $195,600,583

The following is a statement of the exports (exclusive of
specie) from the port of New York to fo eign ports for the
week ending April 20 and from Jan. 1 to date.
E X P O R T S FR O M N E W Y O R K F O R T H E W E E K .

Previously reported................

1904.

1907.

1906.

1905.

$12,957,725
190,097,183

$12,678,883
187.071,607

$12,962,502
156,904,448

$11,014,952
145,680,386

$203,054,908 $199,750,490 $169,866,950 $156,695,338

The following table shows the exports and imports of
specie at the port of New York for th^ wee : ending April 20
and since Jan. 1 1907. and for the corresponding periods in
190(3 and 1905:
E X P O R T S AN D IM PO RTS OF SPECIE A T N E W Y O R K .

a Total o f United States deposits included, $31,612,300.
Exports.

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending April 20 1906, based on average daily results.
W e omit two ciphers (00) in all cases.
•
Banks.

Capi­
tal.

Sur­
plus.

Loans.
and
Invest­
ments.

IN . Y . City.
Boroughs o/
M an.& B r’x.
$
$
$
W ash. H ’g’ ts
100,0
174,7
967,8
Century ____
200,0! 154,0 1,264,6
Chelsea E x _ .
100,0
103,7 1,183,4
C o lo n ia l____
100,0
427,8 4,316,1
C olu m b ia ___
300,0
442,3 6,309,0
Consol. N at. 1,000,0 1,123,4 6,492.2
F id e lit y -----230,0
144,4 1,132,9
14th S tr e e t.. 1,000,0
424.0 7,053,6
H a m ilton ___
200,0
243,3 4,677,4
J e ffe r s o n ....
500,0
642,7 4,427,6
Mt. M orris. .
250,0
219,5 2,656,5
M u tu a l_____
200,0
286,5 3,535,7
19th W ard^.
200,0
260,7 3,492,4
Plaza
----100,0
342,9 3,924,0
R iv e rsid e ___
101,1 1,935,6
100,0
12th W a r d ..
200,0
211,3 2,501,0
23rd W a r d -.
100,0
174,6 1,706,9
Union E x ch .
750,0
839,6 9,114,6
Y o r k v ille ___
100,0
384.7 3,294,2
Coal & I.N at.
500.0
583,8 5,050,0
34th St. N at.
200.0
210.9 1,328,7
B att.Pk.N at.
200,0
121,5
761,7
Borough oj
Brooklyn.
B o r o u g h ___
200.0
156,3 3,151,9
Broadway . .
150,0
405.4 2,727,0
B r o o k ly n ___
300,0
152,8 1,905.2
Mfrs’ N at___
252,0
718,5 4,561,8
Mechanics’ _ 1,000.0
896,5 11,418,7
Nassau N a t .
750,0
946,9 5,851,0
N ational City
300,0
625,0 3,137,0
North S id e ..
100,0
212,5 1,665,8
Jersey C ity.
First N at__
400,0 1,162,7 4,243,6
H ud. Co. Nat
250,0
713,9 2,506,1
Third N a t .. .
2 )0 ,0
349,7 1,810,9
H oboken.
First N at___
220.0
580,5 2,482,6
Second N at.
125,0
193,2 1,667,4

Specie.

Legal
Tender
and
Bank
Notes.

Deposit with
Clear­
ing
Agent.

1

Other
Net
Banks. Deposits.
&c.

$
13.3
24,2
72,7
85,8
291,0
874,5
12,6
330,0
279,3
12,2
133,0
19,1
25,0
279.0
12.7
40.0
67.6
426,4
39,1
659,0
330,8
104,7

$
54,5
60.6
50,9
313,7
255,0
37,8
71,0
344,7
228,5
293,9
107,9
306,4
348,8
275,0
122,8
198,0
167.2
211,1
385,3
129,0
6,8
44,3

$
64,3
114,4
121,2
575,5
537,0
224,2
97,0
400,3
351,8
206,1
309,1
127,2
558,4
327,0
109,0
263,0
116,3
629,8
224,5
678,0
97.5
38,8

42,2
13,9
120,3
440,7
235,6
228,0
127,0
27,4

180,5
202,4
88,6
117,5
564,5
457.0
355,0
118,8

248,6
222,6
357,8
636,6
1,175,7
1,175,0
675,0
51,4

108,6 3,458,3
54,6 2,832.8
34,5 2,242,1
397,7 5,084,2
160,2 13,195,4
5,617,0
92,5 3,795,0
310,2 1,914,7

180,3
88,7
46,2

296,7
71,4
104,9

2,310,1
148,5
371,3

485,0
147,3
27,6

5,975,5
2,124,5
2,015,0

107,8
62,0

18,5
47,3

183,0
99,5

165,5
192,7

2,231,8
1,850,7

$
30,9
124,1
276,4
420,0
419,7
471,0
147,1
58,3
1,5
681,7
129,6
114,9
83,4
60,0
9,0

%
797,7
1,470,4
1,490,5
5,066,4
6,724,0
5,194,7
1,099,4
7,323.1
5,603,7
4,302,9
3,124,4
3,511,6
4,744,8
4,302,0
2,181,1
2,909,0
2,024,4
8,668,4
3,888,8
4,776,0
1,421,4
597.2

T ota ls____ 10847,0! 14731,3 124254,9 5,858,1 6,636,3 13,825,5 5,204,0 133558,9
T ot. Apr. 13- 10847,0' 14731,3 123882,4 5,885,4 6,804,7 14,157,2 4,545,6 133001,9
T o t . Apr. 6 . 10847 ,o; 14731,3 123393,3 5,749,8 6,661,4 13,584,8 4 480,5 131552,0




Week.
Great B r it a in .........
France ....................
Germany ............
W est Indies - - .........
Mexico ....................
South A m e r ic a -----All other countries _

Imports.

Since Jan. 1

W eek.
$82,404

$3,000

Total 1907Total 1906Total 1905-

$3,000
490,037

Silver.
Great B r it a in _______
France .................... ..
Germany . . ............
W est Indies__ ______
Mexico ........................
South A m e rica ......... .
All other coun tries-..

$354,000
3,000
1,387,336
$1,744,336
4,299,522
32,191,807

$6SS ,230, $ 12.094,854
.............. I
540,000

........ _|
3,430

2,027
32,983
29,648

$1,237

$2,259

150
1,478
5,042

........... 58
42.263
260,072
333,802
4,917

$7,907
24,078
22,309

$643,371
732.849
1.013,850

1,000]

41,4881

$691,660 $12,679,7281
929.455 17,719.655
344,751 10.496,909:

$2,540,353
331.087
1,155.297
115.206
50.290
787.269
147,073

$147,062i $5,126,575
530,306
4.867,160
302.136! 4,570,564

600
1.786

Total 1907Total 1906Total 1905-

Since Jan. I

Of the above imports for the week in 1907, $941 were
American gold coin and $1,387 American silver coin. Of the
exports during the same time $3,000 were American gold
coin and $1,000 were American silver coin.

ISanltiwQ and F in an cial.
W e shall be pleased to m ail investors copies of our 10-page
oircular describing 5 7 S h o r t -T e r m N o tes a n d C ol la tera l
T ru st B o u d i.

, Spencer Trask & Co,
Brinch Office Albany N.Y.

W illiam and Pine Sts.. New York

M o f f a t

& W

h i t e

D le in b e rs N e w Y o r k S t o c k E x c h a n g e .
5 N A SS A U S T R E E T .

H A N O V K R B A N K B U IL D IN G

D e a le rs in In vestm en t Securities.
C O M M IS S IO N O R D E R S E X E C U T E D

F O tt C A S H

ONLY

W*nnhzvsr
F o r D ivid en d s see p a y e 977.

Wall Street, Friday Night, April 26 1907.
The Money Market and Financial Situation.— Although
there has been a litle more activity at the Stock Exchange
this week there seems no other evidence that interest in the
markets has broadened. Prices have generally fluctuated
within narrow limits. The prevailing tendency, however,
has been towards a higher level and net changes show, in
most cases, a slight recovery from the recent depression.
A reduction of the Bank of England’s discount rate from
4% to 4% was so generalty expected as to pass with little
effect. More interest, and perhaps more importance, at­
tached to similar action by the Imperial Bank of Germany
and the Netherlands Bank, showing the relief which has
recently come to all the principal money markets of the world.
The crop situation is growing in importance as a factor in
the security markets. Reports of damage to winter wheat in
the Southwest caused an advance in the price of wheat and
were used with more or less effect by the bear element at
the Stock Exchange. Of course the extent of such damage,
if any, is a matter of the merest conjecture, and is quite likely
to be forgotten or ignored in the near future.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1% to 2 % % . To-day’s rate on call was 2 % . Prime
commercial paper quoted at 5 % @ 6% for endorsements and
5 % @ 6 % for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £296,408, and the percentage
of reserve to liabilities was 45.32, against 44.65 last week.
The discount rate was reduced from 4 % to 4% . The
Bank of France shows an increase of 5,500,000 francs in gold
and 50,000 francs in silver.
N E W Y O R K C IT Y CL E A R IN G -H O U SE B A N K S.

j

979

THE CHRONICLE-

A p r . 27 1907.J

1907.
A p ril 20.

S
128,100,000
C a p ita l______________
159,990,500
Surplus....... .................
Loans and discounts. . 1,125,004,900
Circulation___________
50,106,800
Net deposits__________ a l , 108,163,500
215,129,400
Specie _______________
73,616,300
Legal tenders_________

Differences
from,
previous week.
$
Inc. 25.347,800
Dec.
131,800
Inc. 26,501.600
Inc. 2,163,100
Inc.
314,200

1906
A pril 21.

1905.
A p ril 22.

S
S
115,972,700
116,472,700
148,305.000
137,656.500
1,017,429.000 1,107,294,900
51,481,300
44,433,200
1,007,464,300 1,151.968,600
189.653.600 216,116.900
78.579,200
83,323,300

Reserve held _______
25% of deposits______

288,745,700 Inc.
277,040,875 Inc.

2.477,30b
6.625,400

268,232,800
251,866.075

299,440,200
287,992,150

Surplus reserve____

11,704.825 D ec.

4.148,100

16,366,725

11,448,050

a $31,612,300 United States deposits included, against $31,356,600 last week and
$17,438,100 the corresponding week o f 1906. W ith these United States deposits
eliminated, the surplus reserve would be $19,607,900 on April 20 and $23,692,075
on April 13.
N ote.— Returns of separate banks appear on the preceding page.

activity does not signify a larger investment demand, but
simply a little more extensive movement of a few issues.
The latter includes the various Japanese bonds, United
States Steel, Pennsylvania and Atchison. Nearly all the
active issues are fractionally higher than last week. The
exceptionally strong features are Union Pacific, Rock Island,
Delaware & Hudson, Inter.-Metro, and Central Leather 5s,
which have advanced a point or more.
United States Bonds.— Sales of Government bonds at the
Board include $37,000 4s, coup., 1907, at 101%; $1,000 3s,
reg., 1908-18, at 102%; $1,500 2s, reg., 1930, at 104%, and
$4,000 2s, coup., 1930, at 104%. The following are the
daily closing quotations; for yearly range see third page
following.

2s,
2s,
3s,
3s,
3s,
4s,
4s,
4s,
4s,
2s,

Interest
! Periods

April
20

-Jan
-Jan
-Feb
-Feb
-Feb
-Jan
Jan
Feb
Feb
N ov

*104
*104
* 102%
*103%
* 102%
* 101%
*101%
1*129%
*13014
*104%

1930 ............. . . registered ,Q 1930_____ _______ _coupon Q 1908-1918_____ registeredjQ1908-1918_______ coupon Q 1908-1918-.sm all coupon Q 1907 __________registered Q 1907-..........- ______co> pan Q 1925 .................. registered Q 1925_____________ coupon Q 1936 Panama Canal regis Q -

April
22
*104
*104

A pril
23

A pril
24

104% *104
*104
*104

A p ril
25
*104
*104

A pril
26
*104
104%

*102% x 102 % * 102% * 102% *102%
*103 % *103% *103% *103% *10334
* 102% 102% *102J4 * 102% * 102%
*101% *101% 101% * 101% * 101%
*101% *101^ 101% * 101% * 101%:
;
*129% *129% *129% *129% *129%
*130% *130% *130% *13034 *130%!
*104% *104% *104% *104% *104%
raws

* This is the price bid a t the morning board: no sale was made.

Railroad and Miscellaneous Stocks.— The stock market
has been more active. Daily transactions averaged about
650,000 shares, against 550,000 last week, an increase of
nearly 20% . The decline of about 2 points, which was the
result of last week’s operations has in most cases been re­
covered, so that closing prices average nearly the same as
those of two weeks ago.
A strong upward movement occurred on Monday. Subse­
quently there was a good'deal of irregularity, some stocks
making furtl.er progress towards a higher level and others
reacting.
\
Union Pacific and Reading have continued to be the most
conspicuous features of the market. Trading in them has
been on a large scale and the former shows a net gain of
nearly 6 points. Reading has covered a range of over 6
points and, at 2 points below the highest, closes 4 points
higher than last week.
Brooklyn Rapid Tran, it was weak on the prospect of a
judicial decision limiting the right of the company to exact
more than one fare to distant points. This, with New York
Central, North West, and Steel common, are the only active
stocks which close lower than last week.
The industrial list has followed the general course of rail­
way issues and presents no unusual features.
For daily volum.e of business see page 987.
The following sales have occuried this week of shares not
represented in our detailed list on the pages which follow:

Fcrtign Exchange.— The market was strong until Wednes­
Range for week.
STOCKS.
Sales
Range since Jan. 1.
day, influenced by a good demand for remittance and by a Week ending A p ril 26. for ■
Week.
Lowest.
Highest.
Lowest.
Highest.
scarcity,of bills- The inquiry then subsided and the tone
Alice M ining..... ...............i
Mch S7% Jan
>1 $4
was steady at the close.
Bethlehem Steel C orp___
1 10% Mch 20% Jan
To-day’s (Friday’s) nominal rates for sterling exchange’ Cent
& So Am er T e le g ..
! 134% April 134% Apri 1
> 23c. Mch 5()C.
were 4 84@ 4 84% for sixty day and 4 87@ 4 87% for sight. Com stock Tunnel______
Jan
1 12
April 18
Jan
M dnes & F t D odge.
To-day’s (Friday’s) actual rates for sterling exchange were Des
Feb 90
Federal Sugar, pref_____
400: 87% April 25! 87% A
i 76
April
4 8320@4 8330 for long, 4 8605@4 8610 for short and General Chemical, pref - .
30100 A pril 22100 A;
! 97% Mch 102% Feb
Northern subscription
4 8635@4 8645 for cables. Commercial on banks 4 8280@ G t40%
i 122
April 130% April
paid....... ............... 5.267124 A pril 20 127% A
4 8290 and documents for payment 4 8 2 % @ 4 83. Cotton Homestake M in ing.____| 360 00 April 23 69% A
>!l 60
April 85
Feb
23 April 25; 24 A
i 23
April 24
April
for payment 4 8 2 % @ 4 82% , cotton for acceptance 4 8280@ Inter Mer Marine, p r e f.. 9001
Mch 115
137,113%April 26 114% A
Jan
! 108
N Y & N J Telephone___
4 8290 and grain for payment 4 8 2 % @ 4 83.
Ontario Siver M ining___
900 4 % April 25 5 April 20)
4% Jan 8% Feb
) $2.40 Mch $3.70 Jan
T o-day’s (Friday’s) actual rates for Paris banker’s francs Standard M ining. _— . . . 200 $ 2 % April 20 $2% A
Mch 94% Jan
60 92 April 24 92 April 24:
United Cigar Mfrs, pref.
i 87
were 5 20d @ 5 20 for long and 5 17% a@ 5 17%d for short. Vulcan
Feb 57
Detinning, pref.
225 5 3 % April 22 5 3 % A p ril2 3i! 50
Feb
Germany bankers’ marks were 9 4 % @ 9 4 % for long and W estern M aryland......... 200 15 April 22 15 April 22!ill 15 April 30% Jan
95 l-16d@ 95 1-16 for short. Amsterdam bankers’ guilders
Outside Market.— The outside market in the early part 6f
were 40 26@40 28 for short.
Exchange at Paris on London to-dajr, 25f. 16% c.; week’s the week showed considerable improvement over last week,
prices generally moving up on a good volume of business.
range, 25f. 20c. high and 25f. 16% c. low.
Later the market drifted into dulness, business at times ber
The week’s range for exchange rates follows:
ing almost at a standstill. Values, however, held fairly
-Shtfrt—Cablcs-L on gsteady. Industrals evidenced decided strength.
Ameri­
Sterling, Actual—
H igh......... 4 8345
'@ 4 8350
I 4 8640
] 4 8680
@ 4 8645
@ 4 8685
can Tobacco from 325 moved up to 350. American Writing
@ 4 8650
Low . . . . . . 4 8285
@ 4 83
j 4 8580
(4 8625
@ 4 8595
Paper preferred lost 2 points to 22. Manhattan Transit was
Paris Bankers’ Francs—
H ig h ..> . . . 5 20(2
@ 5 20
15 17 Via
@ 5 17%fi
conspicuously active and strong, advancing from 4% to
L o w ______ 5 21}*,
@ 5 20%
@ 5 17% a
15 is%
.5% ; the close to-day being at 5% . N. Y. & Cuba Mail S. S. on
Germany Bankers’ M arks—
H igh............ 94%
@ 94 %
@ 95 3-16
95%
the favorable completion of the Morse consolidation plan ran
L o w ______ 94 5-16 @ 94%
95 l-10d @ 95 1-16
up from 26 to 29% , easing off to 28% . Standard Oil opened
Amsterdam Bankers' Guilders—
@ 40 28
H ig h ..................................................
40 26
the week at 518, rose to 529, and closes at 526. Trading in
L o w ....................... . ..........................
40 3-16 @ 40%
Western Ice was brisk, the price moving up from 27% to 35,
Less: a 1-16 of 1% . d 1-32 o f 1 % . ft 3-32 of 1 % .
with the close at 34% . International Mercantile Marine
Plus: k 1-10 of 1% . x 1-32 of 1 % . y 3-32 of 1% .
securities were listed on the Stock Exchange this week.
The following were the rates for domestic exchange on Chicago Subway sold down from 19% to 17 and ends the week
New York at the undermentioned cities to-day: Savannah at 17%. Boston Consolidated Copper advanced from 27%
buying, 50c. per SI,000 discount; selling, 75c. per S I,000 to 29% and closed to-day at 29. Butte Coal.tion from 25%
premium. Charleston selling, $1 per SI ,000 premium. New reached 28% to-day, but closed at 27. Davis-Daly Estates
Orleans bank, SI per SI,000 discount; commercial, 75c. per after advancing from 15% to 1 7 % ,sank to 1 5 ,but moved up
SI,000 discount. Chicago, 30c. per S I,000 discount. St. finally to 16%. Greene Cananea rose a point to 17 but
Louis, 25c. per $1,000 discount. San Francisco, 30c. per closes at 16% . Greene Consolidated Copper also gained a
$1,000 premium.
point to 25 but fell off to 24% . United Copper common was
State and Railroad Bonds.— Sales of State bonds at the active and advanced from 61% to 62% . Trinity Copper
Board are limited to $30,000 Virginia 6s deferred trust sold down from 22 to 21.%. Nipissing Mines was heavily
dealt in. moving up from 13% to 14% and back to 14. An
receipts at 23.
The market for railway and industrial bonds has shown outbreak of activity in Nevada-Utah carried the price from
more animation this week, if comparison is made with the 3% to 4% .
Outside quotations will be found on page 987.
exceptionally dull period just preceding. This increased




New

Y o r k S t o c k E x c h a n g e — S t o c k R e c o r d , D a ily , W e e k l y a n d Y e a r l y
O C C U P Y IN G

S T O C K S —H I G H E S T A N D L O W E S T S A L E P R I C E S
Mmturday
A p r i l 20
9 8 s«

94 V,

1 o 'i wj i'o T k
97*4 98 Hi
*88
92
69
69k
90 128
110 1 3 9 k
I * .......... 84*<
; 176 17514
! *«0
62
r*1 8 5 190
41*8 4 1 k
1 *1 5 k 1 7 k
"•.......... 59
> 13*4 13V,
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76k
% *65
69
• 18
18V.
is 3 k i3 3 k
J* 1 6 l ........
*1 1 0 118
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: 162 1 5 4 k
:* 1 9 5 220
1*186 140
•160 180
1 *5
6k
I *1 3
16 k
4*4
4*4
f 16
16
70^ 70k
* 1 0 6 109
2 6 \ 27
-I *59 V 60
, *46 k 48
i 1 8 4 k 185
474 474
* 2 8 k 29 k
*74
78
* 7 8 k ........
* 1 2 k 14
; *22 k 25
28 4. 23 >5
[ {5 4
54
^ 36*9 36 >2
i *65
70
i *88
93
I 183 135*4
t 6 0 ‘s 64

L

M onday
A p r i l 22

T u esd a y
A p r i l 33

95*a 96*8
94 V 96V,
96
36
96
96k
104 105 Hi 104 Hi 105
99*8 1 0 0 k
98*8 100
90
90
89*4 8**4
69 Hz 61V,
59 >8 6 1 7s
*90 128
*90 12S
*110 139 H 110 1 3 9 k
' .......... 84*. ____ _ 84*4
176 176*4 i 7 5 k 176*4
62
62*4
*60 Hi 62
■185 195
185 195
41 Hi 42 *8
42
42*4
16*4 16*4
* 15 k 17 Hi
.......... 59
59
*18
13 k 13 V
13*4
*75
76Hi
76 Hi *75
*55
*55
5y
59
18
18
L7Hi 1 7 k
134 V 186 7(. 135*8 137 k
153 153
L53
1 1 7 k 1 1 9 k 120*4 1 2 0 ‘s
136 137
1 3 6 i8 i3 7
164*8 155*4 163
155 k
200 203
'2 0 0 225
1 3 8 V 138Hi 135 140
*150 180
*150 180
*5
6k
*5
6 Ha
15
15
*13
16k
4
4k
4k
4*4
16
16
133, 15 Hi
71
72*,
71
72 H
'1 0 6 109
106 109
2 6 7g 27 k
26 k 27%
57 Hi 59
59*4 59*4
48
48V,
47*4 47 V
185% 188 Hi 187 188
*472
475
470 475
'2 9
30
2 9 k 30
*74
77
*74
76k
*73
80
*73
80
*12 Hs 14
•12 k 1 4 k
*23
25
*23
25
2 4 14 2 4 7b
23V 24k
06
56*,
54 k 56
*37
39
38
39
*65
70
*65
70
*88
93
*88
93
1 3 5 k 137*8 135 137=8
6 2 k 63V*
62*4 63 k

f ::::::::::::
*4 3 "

30 . 30
*25
80
77
‘ 77
.......... 77
*77
85
*81
83
83
*81
8 5 k •SI
84 * 8 4 "
85V,
• 143 146
145 145
146*4 147
25
25
25*4 26Vj
25 Hi 26
68
5 8 7e
60
60
61
60 k
18 k 18-k * l 8 k 19
* 1 8 k 19
86*4 86*4
36*4 36 78
86*4 36*4
*76
80
*76
80
*76
80
'* 2 4
25
25
25*4 *24
20 k
60
>•59 k 60
60 k 60*4
60*4
;* 2 0
25
*20
*20
24
a5
. *65
75
*65
*60
70
70
I *50
60
60
*60
*62
60
i. 117 117
117 V 120*4 12i> l 2 l
l 3 8 7g 1 3 8 78 139 139
139 1 3 9 k
*r *94
yy
*94
*94 100
yy
I * 2 1 i4 2 1 \
21*4 22
2 1 k 21V,
i. 49
49k
48
50 V»
49
49k
I *»2
85
*»2
80
*8 a
85
* 1 0 0 107 ‘ 103 107 *1 0 4 107
•ISO 137
134*4 134*4 134 134°g
3 6 78 37*8
36k 36^
36 *0 37'^
; 66 k 60 >4
6 5 14 65*4
65 Hi 65 7g
76
I 74 k 74 Hi
7 4*4 7 6
76k
* 1 2 3 130
128 130
*1 2 3 130
♦62
, *5 2
64
*52
61
54
‘ *21Ha 23
21k
*2 1 k 23
I 118*4 lltfa* l l » k l 20
il* 8 V 119
43
I *4 L
43*b 4 3 7s
41*4 43*8
• 1 1 0 120
Ho
120
110 120
*77
85
*77
85
78
78
• 174 179
177 177
176 176
38 *4 38*4
(,* 8 7
3bk
3 8 k 38*4
75
76*,
76*4 7 7 i 7 5 k 7 5 i,
- *75
80
*76
*75
85
85
i 1 3 0 k 1 3 4 k 1 3 4 k 136*8 134*8 136*8
116 116 >4 l i e 7* i i 7 ? » 116*4 118
y?
99*4
9y
99 k
* 9 » k 9 7 Hi
*95
* 9 0 103
103
*90 103
*101 >4 1 0 1 ^ *100 103
*97 103
: 1 2 4 124*8 125 126 Hi 126 127 k
72
i *7 0
72
72V4 72 k *70
*93 loO
* 9 3 100
*S>>3 100
105*8 107
1 0 7 k 1 1 0 78 io y « 8 111*8
86
*&2
* _______
83
86
•.......... 85
.......... 85
85
21 22*8
21*4 22%
2 1 k * 1=8
50
*48
50
*47
60
50k
*62
67
67
*62
*62k 6 7
36
*84
36
36
3 j V 36
22
2 2 °s 22 V
22
* 2 0 Hi 22
58
53
63
63 k 56
53
84
83 V4 84 7g
85 >4
82
82 V
116 117
*116*4 116*4 115 117
22
2**4
21 Hi 22V4
21 Hj 2 l k
67
* 64*4 65 7p
67*4
66 k 67 Hi
28*4 28*4
*28*4 28*4
28*4 28*4
n o 120
,1 1 0
12u * 1 1 0 120
25
26 Hi *25
26 V
*24
26
28
29
2 8 7e 2 y s
*2 8
29
6 4 i4 54*4
64 k 6 4 78
64
54V

*

' 78

W ednesda%
A p r il 24

T h u rsd a y
A p r i l 25

I r id a v
A p r i l 26

TW O

PAGES

STOCKS
N S W T O K K STOCK
E X O H A J fG K

R ange to r P revior*
R a n g e fo r Y ea r 1 90 7
8 a i«s o
Year ( 1 9 0 6 )
On b asis o f 10 0 -sh a re Lot*
the
W eek
H ig h est
L ow est
Low est
H ig h es t
S h ares

K attraa elik
,700 82*8 M a r l 4 1 0 8 k Jan 7 85 V May
9 4 V 95®s A toh. T » 0ek.a<fe Saht-a Fc9 4 ^ 95 k
,101 92 M ar26 IOIS mJ a n 12 r98 D ec
97
96 k 97
^V.
D o ' p r e f .............
*96
,4t'0 94 M a r26 133 k Jan 5 1 3 l k J ’ ly
i ’o Y k i'04% 1 0 4 k 04 k 1 0 4 k 1 0 4 7s A t la n t ic C oa st L in e E B ..
.250 90 k M ar25 122 Jan 5 105*4 May
99
1001*
98 k 99 V f> a it4 * i* re & O h io ___
98 k H9k
200 87 M ar25 94 k Jan 10 91 O ct
*89
90
90
*88
91
D D o praf.
nr®f...................
*89
,840 4 5 k M a rM SS5®J an 7 71 J ’ ly
58*4 6 0 k B ro o k ly n R a pid T r a n sit.
6 7 7s 61
59 V
58
95 M a r l4 115 J a n 26 124 N ov
*90 128 B u ffalo R o c h e s te r & P itts
*90 128
*99 128
135 J an 4 135 Jan 4 139 k Nov
‘ 110 1 3 9 k ;n o
1 3 9 k '1 1 0 189 k
D o p r e f........................
83 F e b 16 85*4 Keb
83 Jan
' .......... 84*, B sfi’ato * s n » q tie , p r e f ..
84
*
84*4
,660 155 M ar23 195 k Jan 4 155 V May
175 k 176k 175* 175*4 175 Hi 175*, ( Canadian Paioific.............
400 60 M a rl 4 65 k J an 14 65 k J ’ne
•62
62*4 '.-'aniuia S o u th e r n
63
63
64
*62
’ 185 193 C en tral » f N e w J e r s e y ...
165 M a n '5 219 k J an 2 204 May
*185 193
'1 85 195
'930 3 vp4 M ar25 56 J a n f> 51 k N ov
4 1V 4 1 7g Oh©BAi*eake & O h io ...........
4 1 V 42 k
4 1 k 42
500 14>4 M ar 7 2 7 k Jan 5 25 k Sep
*15-a 17
15
16 k C h im g o tfc A lt o n R R .......
*14*4 16 k
59
59 M ar 19 69 Jan fi 70 D ec
*
59
59
D o p r a t.........................
,4o0 10 k A p r 26 18 J a n 9, 16 J ’ne
11
I l k C h ica g o lir e a t W e s t e r n ..
12 k 13
in ia 1 2 58
100 75 A p r2 4 79 F e b 25 79 k 3ep
*73
76
75
75
D o 4 p. c. d e b e n tu re s
*73
76
86t 50 A p r 2 5 71*4 F e b 14 70 D ec
51
52
60
52*4
D o 5 p .c . pref. “ A ” ..
50
54
000 15 k A p r 25 26 k Jan 5 24 7e Nov
15k 16k
D o 4 p. e. p re f. “ B ” ..
16k 17k
15 k I*5,12
,32o 122 k M ar2; 157 k Jan 14 *146 k D ec
135 k 137 k ,1 8 5 k 1 3 6 k 134*4 136 k C h ica g o Mll-w. & St. Paul.
450 145 M ar 25 1 6 5 k Jan 6 *160 D ec
'1 6 3
156 * 1 5 4 k 1 5 4 k 156 166
D o p r e f ..........................
,823 112 M ar26 141 Jaii 14
120 120
120 120*6 *119 120
D o com .ctfs.lO °n paid
,828 129 M a r 26 149 J a n 15
136 137
136*4 137
D o pref. ctfs. 10% paid
136 137
i577 137 k M ar.it 205 J a n 10 192 A p i
152 1 5 3 k C h ica g o <te JSorbli W ostem
162 153
151 152
400 200 A p r 4 234 J a n 10 225 Aug
218 2z0
212 212
D o p r e t..........................
'2 12 225
100 120 Alar25 170 J a n S 168 J ’ ne
’ 135 140
135 140 *135 140 Chio. St. P . M in n . & Ota.
160 180
160 Jan 18 165 Jan 19 176 N o v
'1 5 0 180 *150 180
D o p r » t ..........................
0 M ar2v
6H. C h ica go T ftn n ’ l T r a n sfe r .
'5
6k
y v A pi
9*4 f e b 21
•5
6k
30i
17
9 M ar^7 25 J an 11 25 D ec
*13
1 6 k • 1 5 k 2 5 k *16
D o pr<#..........................
i,600
4 M arlJ
6 k Apr
3 78 May
4*4 Chioafco U n ion T r a c tio n .
4k
4
4k
4k
4
,,80<.i I l k M a r i4 19*h J an 9 I l k J ’ ly
15
1 3 7g 15
15k
D o p r e f ..........................
1 4 k 14*4
,ywn 63 M arJt 92 7s Jan 7 89 D ec
71*4 71 k Clanf*. C111. Chio. <& St. L .
71*4 7 2 k * 7 0 k 7a
105 109
106
E e b 21 108 k Ja n 7 110 J ’ly
r101 loy
105 ioy
D o p r e f ..........................
‘,2*70 22 k M ar25 38 k Jan 9 29 k Jan
26*4 2 6 7b C olorado & S o a tJ ie r n ___
2 6 k 26V
26*4 26
,100
A
6«
H
i
59
k
57 H, p r 2k 09 S J a n 7 66 k A p r
60
*59 hi 6 0 k *59
D o 1st p r e f e r r e d ___
,650 44 Alar25 58 Hi J a n 8 43 Alay
4 7 *4 4 7 V
47*4 47 V ♦47
48
D o 2d p r e fe r r e d ........
,916 167 M a r .5 227 k Jan 2 189 Alay
1 « 5 - 8 186
185 188
«Aawar© <fe lln t ls o n ___
186 1 «6
470 473
,300 445 M a r 2 6 510 J a n 24 437*4 May
470 473
*470 475
ola\r. D acli. & W e e t’ n .
,950 2 8 k M a r l 4 4 2 7s Jan 7 36 'a May
20 k 2 9 \ D e n r e r A R to ftran ito___
29 76
29
28 k * 8 k
83 O c;
•74
77
* 14
78
77
69 7« M a rio * 3 7« Jan l o
D
o
jjreJ:..........................
*74
' 5 ( » 65 k M a r l5 8 0 •« Jan 16 79 k Dec
70
74 k D e tr»it u n it e d .....................
78
7 5 k 7 5 k *74
• 1 2 k 14 k D u lu th 80. S h o re <A A t l ..
9 k M ar 14 19 Hi J an 6 16 J ’ly
* 12 k
12k
*23
25
20 M a r il 39 J a n 4 32 Apr
*23
25
*23
25
D o p r e f ..........................
23*4 24 H
2 1 7p M ar27 4 4 k Jan 5 38 k May
24 k 24*4
23k
6 I V A p r 16 7 5 7s Jan 7 74*4 D ec
5 4 k 6 0 k fci D o i s ’t p r e f ...................
53*4 55*4
56*8 5 6 k
34*4 Aiar25 67 Jan 7 62 k A p r
38 k 39
» o 2d 9T*i...................
3 7 k 3 8 k *37 hi 39
•65
70
68 D ec
*65
70
*65
70
EvajtsT. * T e r r e H a u te ..
•88
93
"y"o A p r 4 "9 2 " A p i V; 80 J ’ ly
*88
.93
*88
93
D o p r e t ..........................
135*4 1 3 7 14 135 136*4 135 k 1 3 7 k G rea t n o r t h e r n , p r e t........ 46,311 126 M ar25 189*4 Jan 2 C178 D e c
9,850 50 M ar25 85 Jan 5 70*4 Dec
6 1 k 62
62
62 •
18
62
62 k
T e m p c tfs fo r ore p ro p .
81 ^ Xax
G re e n is*y<ft W .,4*t). cw. a
2
10
8 M ar ■» 14 Hi J a n 17 11*4 O ct
Do
d e h .c t £ B
" l O k 10 k
200 30 A p r 23 47 Jan 3 33 k Jan
•28
43
43
*30
43
arajaa
E
l
e
o
t
n
o
.............
77
72 A p r 1 86 k J a n 4 7 7 k Jan
*70
72k
D o p r e f ..........................
“ Boo 75"% M a r 2j 114 Alar li
7 7 k ......... H o c k in g V a lle y t r r e c t s .
81
83
80
80
200 83 k M ar2b 94 Jan 6 92 N ov
> 3 hi 85*4 H o c * i a g V a lle y , p r e r ........
84k 84k
*83k 85k
1,300 134 M ar 2 6 172 Jan 3 164 May
•146 148
147 147
| m a o ia O e * tr a l.................
146 148
5,223 22 k Mar2A 39 J a n 23 3 3 V J ’ne
* 2 0 k 26*4 JLn ter bo ro 11 e t r o p o lit a n .
25
25
25
25 k
2,425 52 M ar 26 75 k J a n 7 70*8 J ’ ly
*59
60
D o p r e f ............................
(SO 60
600 18 M ar 14 28 k J a n 4 24 J ’ ly
1 8 k 1 8 k I o w a o e n tra a......................
*18k 1 9 "
*18k
900 30 k M ar25 51 Jan 7 48 J ’ly
*
3
6
37
a6*» 36*4
D o p r e f ..........................
*36
37
*76
80
74 M ar2o 80 J a n 10 77 O ct
*76
80
C.E't.8.«fcM..,tr. eta. p fd
*76
80
4iO 18 M a r l 4 30*4 Jan 5 22 7g J ’ly
26
25
k
2
5
k
ana&s
C
ity
S
o
u
th
e
r
n
..
*25
25V 25^
2,950 46 M ar 2 5 61*4 Jan 8 49 J ’ ly
60
60
60 k
60
D o p i e f ..........................
6 u k 60 k
*20
24
24
19 k M a r ls 28 k Jan 12 27 V J ’ly
•AO
ak e E r ie <fe W e s t e r n ...
*20
24
70
65 A p r 2 67 k A p r 2 6 75 Sep
67 k 6 7 k
*65
D o p r e f..........................
*65
70
*52
tJO L o * g I s la n d .........................
62 M a rl 3 67 k J
9 6 1k O ct
60
*50
*52
60
6,109 108 M ar25 1 4 6 k Jan 5 136 k May
ll9> 4 1 2 0 k 119 k 120*4 119*4 120 k Ixm lainlle * N a s h v i ll e ...
1,117
140 Sep
MariJfc
b
o
b
13
137
139
120
146
anhjtttan
E
le
v
a
t
e
d
...
189 k 139 k 139 139
90 Ala: 28 107 J a n 23 103 J ’ly
* »>
99
em >p otitan S tr e e t___
•94
»9
*94
99
“ 510 15 M a n 4 2/®8 J a n 5 18*8 May
*21 k 22
{ 2 1 k 2 1 k * in .k 22 M exicm n C e n tr a l.................
2,800 48 A p i 11 59 J a n 15 58 k D e c
49->4 60
M in n eap olis & St. L o u is .
49*4 50 >4
4 9 k 49*4
*82
85
86 M ar 2 6 y o J a n 24 90 A pr
*82
85
*82
85
X>o p r e f ..........................
" I T 6 97 M ar 2o 1 4 0 k Jan ;s 134 Dec.
'1 03 107
104*4 104*4 l o 2 k 1 0 6 k MUin. S. P . * S. S. M arie.
l,6 0 u 123 M a r l4 168 Jan 3 163 k A p r
'1 32 136
134 1 8 4 k 134 k 136
D o p r e f ..........................
36 ;8 3 7 k M o. K a n sa s <fc T e x a a ........ 10,350 30 k M ar2b 44*h M ar 1 29 Alay
86 k 3 o*4
36k 37k
2,750 59 M ar26 72*4 Jan 4 b4 k A pr
65 k 65*4
65 -j 66 k
D o p r e f ..........................
65 k 65 k
7,2o0 64 M ar U 92*4 Jan 5 80 k May
7 5 V 76 k M is s o u r i P a c ific .................
76
76
75 k 7 6 k
20 119 M ar 22 147 Jan 8 133 Alay
§ l;i5
125
123 130
iwih. C hatt. & St. L o u is
123 130
*52
54
48*4 M a r 23 o9* r J a n 9 36 A p r
*52
54
at. o f M e x , n o n -c u m .p f
*53
54
Fet) 14 1 8 k J ’ ne
20* b M ar2t 27
D o 2d p r e f................. .
*2 l k ......... * 2 1 k ^ 3 k *21 k 2 3 k
15,170
118
k
119
k
111
Hi M ar 14 134*4 J a n 10 126 N ov
J
S
T
.
Y
.
C
e
n
tra
l
&
H
u
d
so
n
..
1 1 8 k 119 *4 1 1 8 k U 9
2.500 35 k M ar23 63 k J an 7 t>9 M ai
42 k 43 k X . Y . Chio. <fe St. L o u is ...
'4 3
44
4 2 k 41
109 Alar26 110 J a n 16 111 A p r
’ 110 120
D o 1 s t p r e f ...................
110 120 *109 118
101/ 70 M ai'2(i 91*4 J a n 7 80 May
*75
»5
85
D o 2d pretf...................
*77
85
*77
400 173 k M ar 2 7 189 J an 9 l o 9 k D e c
1 / 9 180
177 177
N . Y . N . K a r e n A H arU .
179 179
760 34 k Alar26 48 V Jan 5 43*4 May
*38
39
_ V„ 3 8 V * 3 7 78 3 8 k N . Y . O n tario & W estern .
38
9,045 71 A la ri4 9 2 m Jan 5 84 F eb
7 6 k 77 N o r fo lk & W e s te rn ...........
7 6 7e 77*4
'6 k 77
80 M a r l 4 90 k J a n l o
89 k A p r
*80
»5
D o a d ju stm e n t p r e f.
85
*75
85
*80
133*4 136
182 1 3 4 k 132 k 134 7s N o rth e r n P a cifle ............... 9i",37 b LI 4 k M ar26 1 8 9 k Jan 7 179 k May
7,6 5 0 110 M ar26 134
fc'ebl3
116 l l 6 7e
D o subitcrip. r e c t e . . .
lie k H ^
1 1 6 k :117
1,700 90 M a r l5 1 2 4 1* Jan 7 103 Jan
991*
a c ific Uoa*>t 0 0 ...............
* y 8 k lO 0
98*4 99 k *98
105 Jan
*96 103
D o l s t p r e L .................
*95 103
*95 103
" 8 0 0 95 A iar20 i'2' i " M ar " 8 105 k Jan
D o 2d p r e f ...................
101V101V
1 0 1 k 1 0 1 k 100 102
131,455 114 A larl4 14 l*a Jan 8 122 k J ’ ly
125*4 127*8 125° 1 2 6 88 1 2 6 k 126 k PM KM ftVM lia
10O 67 M.ar2t 78 Jan 22 75 May
•70
71
Piteefc. C in. C h ic. * St. U
72
•70
72
*70
*93 100
93 k M ar 18 1 0 5 k J an 5 100 May
D o p r e f ____ _____ ___
•as 100
*93 100
.
8*3,830
1095,
;
91 M ar 14 1 8 9 k J an 7 112 May
1 1 0 k 112 k L ) e a s in g .
lll^
llO k H 2 V
200 84 M arzu 92 J an 7 89 Sep
•83
80
I X ls tp r e f
85
85
85 k 85 k
•82
*5
83 M a rl l 94 Jan b 90 A p r
2 d j t r e f ............... ......... .
83
*80
84
*81'
7’,700 17V M ar 2 6 30 V Jan 6 22 k J ’ly
R®ck I s ia » d O em pM iy----2 1 °t
-IV 2
2U
21*4 22 k
200 40*4 M a r 2b 04 k J an 0 00 J ’ly
50k
50 k * 4 8
D o p c s t .........................
*48
6 0 k *48
Keb
20 59 M a r i 8 70 J a n 11 60
{
6
7
67
St.
L.
*
t
t
.P
r
.,
1
st
p
r
e
f
----67
*62
67
*62
1,355 29 M.ar25 48 V J » n 6 40 k J ’ly
*35
36
© e i d p r e f ...................
86
*35
3 5 k 36
200 18 M a r ly 25 Hi J an 7 20 k May
22 k * 2 0 k 2 2 k St. L o u is SourtJiiyeeteni..
*20
1.500 4 5 k Aiar25 62 k F eu 15 48*4 May
D o ptrwf
57
55 k 55 k
5 5 k 5 5 k *50
84
85
SoofiiMn-a P a c ific C e .......... 134,580 69*4 Alai' 14 9 6 k J a n 14 61 May
831
85
83*4 85 k
610 112 M ar 2 6 118 k Jan 14 116 J ’ ly
117
117
-pr«l
116 117
'1 1 6 117
22
22
S o«aL sra T .tT . cfs. n m p e d 13,700 19*4 >lar25 34 Jan 6 3 l V Nov
22
22=8
2 1 k 22
2,325 63 A p r 16 94 k J an 5 VS k D ec
® o pref.
do
67 k t>7k
67 k 67 7s
67 V 67 k
2,200 24*4 Alar 2 5 37 k Jan 7 28 AI ay
28*4 28»* '■peocAs * P a c d fie .............
2 8 7b 2 9 k
2 8 k 28*4
M ar 14 123 Jan 8 {121 Novlo l
Y . ) .. .
>110 120 •110 120
'1 0 8 115
200 2 i M ar 2b 29 Jan 7 25 k D ee
26
26
T flie ie R a il w aya * L ig h t
*25
-^6*4 *25
26*4
2,320
23*4
Maa-26 33*4 Jan 5 2 5 k J ’ ly
30
29
29 k 29 k ToL SL !«. <fc W . v . tr. oofs
29 k 30
4,230 45 Alar 8 5 4 > A p r 12 1 43 J ’ly
53
© o p r o t v o t. a . tnla
5 4 k 54 V
54 k 54*4
9 4 5s 96 k

.......

D

...... ___

_ 7?

H

K

L

M

N

.............

iv

RAN KS

240 * J an
270 Alar
198 J an
202 J an
18 k J a n
42*4 Jan
13*4 F eb
47 k M ai
109 k Jan
118 Jan
4 L O ct
73 k Fet>
5 J D eo
231*4 N o v
560 Alay
5 1 78 J a n
9 1 k Jan
102 F eb
22 k Jan
45 Jan
50 7g Jan
83 Jan
76 V J a n
76 j a n
94 A u g
348 F e o
85 D ec
9 2 k Jan
23 Hi J a n
53 A u g
9 7 V M ay
9 9 V J ’ ne
184 k J ’n e
55*8 Alay
87*8 May
34*4 Jan
63*4 Jan
84 .j b et)
37 V Ja n
71 J a n
44 k J a n
$9 J k Jan
81*4 J a n
1 5 6 hi Jan
162 J a n
127 J an
29 V D ec
84 *4 J an
LOOk Jan
164 M ar
188*4 Jan
43 V N ov
76 N o v
106*4 J an
149 k j a n
59*4 D ec
30 D eo
156 Jan
73 k A p r
120 k Jan
92 D e c
204 7a J an
57*4 J an
97 V O ct
96 J an
232 k fc'eb

..... .... ...... ....
142

P

*21

_ ...

1 1 0 k Sep
106 Jan
1 6 7 78 Jan
125 k Sep
9 9 k Jan
94 k J a n
153k * e p
150 D eo
87 F eb
2 0 1 k D eo
70 7* J a n
239 V M aj
6 5 k Ang
3 5 V O ct
77 k O ct
23*8 Jan
86 u J an
80 J an
39 V J an
199 k D e c
218 A u g

22*4

JLtea-OATffflBO(W.

J ’ ne
106 Jan
135 Alay
147k J an
87 Jan
109 A u g
i l 6 4 Jan
96 Jan
102 Jan
3 2 !k N ov
69*4 A u g
72*4 A p r
5 1 k F eb
27 k Jan
63 *8 Sep
97 *s Sep
120 k J ’ ne
4 i ’» Jan
103 J a n
4 0 k O ct
?i;i9>i Jan
36 Jan
40 k Jan
5 9 7« Jan

AND TRUST COMPANIES— BROKERS* QUOTATIONS

B id A s k
iia n k !,
B a n k !,
B id A s k !
EUI A s k
B id A t k
A sk
B id
B a ii i u
Banks
230 250
M etro p o lis 1). 390
F ifth A v e fl .. 390 0 4200 Iiwa A TttwL 5iO * 6 5
C h e m ic a l. . . . 375
400
465
XKW YORK
___ la f e r t o r o j l .. 150 1 6 0 M e tr o p o ii’ u^j 165 ir i k P a r t ............... 440
C itiaen s’ C trl 137"k 147 k F ilt h ............... 340
......... I P e o p ie ’ s n ----- ■iOO
M t .Morris*!. - 240
iT T ia g N .E x . IfS 200
660
F ir s t ............... 625
C i t y ............... 250 260
225
jfcetna............. 215
P h e n i x ......... 150 165
M utual*,,........
305
Jofltopfcarnj... 3W> 2 SO
14th S t r e e p . 225
240
iOO
Coal <fc I r o n . 225
525
A m e r ic a 1| . . . 500
P la z a li........... 57 0
510
NasBauli ___ i 9 5 " 200
C olon ialU . . . 700
...... F o u r t h .......... 190 '2M UOMrty
245
A m e r E x c h .. 235
175
P rod E x c h li. 160
N e w A m s te r
210
! * .......... uoo
. .. C o lu m b ia ^ . . 5 o0 525 G a lla t in ........ 350 i n 5
A s t o r ............. 750
*10
?0 0
N e w Y o r k Co i'ioo" . . . . . Riyersltlell .. 250 280
C o m m e r c e ... t i r o 1172 G a r fie ld ........ 5IX) 525
is o
B a tt e r y Park 120
350
s
e
a
b
o
a
r
d
___
370
305
285
2
JO
»
•
N
e
w
Y
o
r
k
.
.
.
MarfwR/AITuJ
C on solid ated 155
G erm an Am^i 145
15-5
B o w e r y l i __ 820
160
330
S e c o n i l ......... 7DO __ __
SS5 245
N ig h t <fc D ay 4*)0 410
B u t c h ’ s<fe Dr 160
...... C o p p e r........... 215 ...... G erm an Exil 135
S ta te * !........... 350
170
19th W a rd li. 350
J b T n fl 16-S
G erm anial] .. 500
C’ rn KxchU
290 305
190
C e n tu ry 1i—
275*' 34th S t r e e t .. 220
N o rth A m e r . 265
G re e n w ic h 11 283
2*4"
160
C h as*5 ........ 300 350*’ D iscount^ ]. . . 150
--r12th W ard*:. 450
182
H am iltom i .. 250
..... Mamik as<?H. 170 h h T N o r t h e r n ___ 172 275
E ast R i v e r .. 150
160
C h a t h a m ___
820
23d W a rd I . . 190 -------U w cW teais ’ .. 1 6 7 k 165 1O rie n ta l^ ___ 265
H a n o v e r ........ 4 >0 505
F id e lit y ^ ___ 195 205
.C helsea Exc1 2 0 0 *
0
N
e
w
atoek.
* Hut an d askt.yt prices; no sales w e re ma»ie on tin s day. 4 L ess Cliau UW slrfliiwi. t fJx-nj?i»ta. utitrtto uauics. a Kx-(Uvnlem l am i riKiits.
( Sale at S tock E x ch a n g e o r at a u ctio n this w eek,
c E x b e n e ficia l in te re s t to o r e p ro p e rtie s,
h 1st in s ta :in ’ t paid, n Sold at p r iv a te sale at tlua o n c e .
J ia n iu

B id




A sic

....

I

STOCES—HIGHEST AND LOWEST SALE PRICES
Saturday
April 20

Monday
A pril 22

Tuesday
A pril 'i3

96
98
96
141H, 140\ 143*8
88
*80
88
37 \ *31
37
37
37
38 *v
•67
61
*57
61
57
57
14*2 14*2 14'« 14*i
14*2 14*2
20
*26*4 25*a 257g 26
26*4
13
13
§13
•12*2 13
13
*25
28
•_5
29
•26
29
•15
17
•15
17
17
•16
{la *4 19*4 •18
*18*4 19*8
*39
42
•39
42
•40
42*2
*Si>4 96*2 *96
136 137 *s 138

981

New Y ork Stock Record— Concluded— Page 2

A p r . 2 7 1 9 0 7 .]

Wednesday
A pril 24

Thursday
A pril 25

90
90
*95*4
141 ’*2 143*4 141
86 4) 86 *8 *80
§38
38
37
57*2 57*2 *
14*8 144- *14*"
•25*2 27
26
•12
13
•12
*20
29
*25
*15
17
*15
*18*9 19*4 *18*2
§42
42
‘ 40

Friday
April 26

STOCKS
NBW YORK STOCK
EXCHANGE

Sales o,i Range for Year 1907 Range tor Previou\
Year(1906)
the On basis of 100-sliare lots
Week
Highest
Shares
Lowest
Lowest
Highest

*90
100 87*, M arl4 108*2 Jan
97 Twin City Rapid Transit.
102 Dec 122 *4 Jan
142*4 144*4
nion Pacific..... ............ 804,850 120*4 Mar 14 183 Jan
138*2 Max 1953s Sep
100 8 o\ Apr i 94 Jan
•86
88
Do pref.....................
91 *2 May 99 *4 Jan
*35
1,47c 27 Mar 2.' 62 Jan
38 UnitRysiny’t of San Frau
50 Api 98 Jan
355 44 Mar27 71*8 Jan
57*2 57'-.
Do pref......................
55 Apr 93 Sj Jan
*14
1,300 124 MarH 18 '2 Jan
14*2
18 Dec 26*a Jan
abasli.........................
1,200 21 *2 Mar26 38 ‘a Jan
26
26»»
Do pref........ ...........
36*2 Dec 53 Feb
*12
12 <;
13 W heeling* Lake E rie...
9 *2 Mar 4 16*4 Jan
16 Apr 2134 Feb
*25
29
36 Maj 48*2 Eeb
225g ^ a r li 3734 Jan
Do 1st pref...............
*15
17
Do 2d pref...............
14 Marl4 21\ Jan 10 21 *4 Oct 29 *2 Feb
17
620 16 Mar 14 25 7b Jan 12 23 May 33 Jan
18 *v Wisconsin Central...........
Do pref.....................
life 36 Marl 4 51*2Jan
*37*9 42*2
44 J’ly 64 Jan
Industrial <fc M isceii
*280 300 *280 300 *280 300 *280 300 •280 300 *280 300
* dams Express.............
2280 Mar 14 §295 Feb 14 §240 J’ne 5300 Aug
11*4 H J4 12*4 12*4 12*2 I’^Og 1298 12 >2 12*2 12*2 12*2 12 \ A tlis-Chalmers............
95K 10 Marl 4 16^8 Jan 5 16 J’ly 27«s Jan
31
33
33
33
83
33
*32
*28 *2 30
*32
31
700 25 Mar) 4 4334 Jan 3 40 Sep 67 Jan
Do pref....................
35
94*2 9678 95*8 07\ 95 7g 97*4 *^3*2 94«s 93
927s 94
94\ A.raalgamatedCopper...... 255,340 78*2 Mar26 12178Jan 5 923e J’ly 118*4 Feb
*19
21
2U*s li0*8 20
*20
21
20
*19
20
21
■150 19 Mar25 25'% Jan 81 20 J’ly 34*8 Jan
20 A.mer Agncult Cliemical.
*60
95
*80
•........ 95
95
*80
96
*80
*80
95
95
Do pref....................
90*2 Marzo 95 F eb20 90 Dec 102 Jan
•16
17
17
16*8 10^ *10
16
16
'*2 00 14 *2 Mar 14 23*2 Jan
*15*2 10*2 A.mer Beet Sugar.............
20*2 Maj 35 Jan
15=8
15=8
•........ 83 * ...__ 82 * ...... 82 *...... 82 k
82 *
200 75 Mar 6 bO Jan 21 82-'g Oct 89*2 Jan
Do pref.....................
82
O^g 6*8 *0
*6
6*2
*0
034 ** 6 "
6*2
300 5*4 Mar 14 7*2 A p ril
6
6
6 *2
American C an .................
*57
69
*56 Sa 58
67*4 5#
57*4 67*4 57
1,960 48*4 Mar26 60*a Apr 10
57*4 65*9 56*4
Do pref......................
3734 37 y 37*4 3 7 ‘8 37*4 37>a 37\ *37*4 373< Vmencan Car & Foandry
36*4 36*2 37
3,000 31 Mar2 6 45*4 Jan 14 3234 J’ly 47*2 Jan
*98*2 100
•98*2100
99
99*4 *99
99*4 *98*2 99 *2 *98*2 99*2
200 92*2 Mar25 lw3 Jan 12 98*2 J’ly 105 Jan
Do pref......................
•30*4 31
•30*4 31
31
31*8 30 *a 30*4 30
1,140 27 Alarms 33"s Feblv 28 May 44*4 Jan
30*8 303g 30*g Imerican Cotton Oil......
92
*82
*80
88 , *82
92
*82
92
*82
*82
92
92
£8 Marls 1:0 Jan 21 90 Dec 95 Jan
Do pref................. .
*200 220 •200 220 •200 220 *200 220 *205 2-0 *200 220
American Express...........
200 Mar 25 247 Jan 5 215 Apr 272 Aug
*6
*6*4 0*2
6
6
6*2
*5*4 6*2 *6
*0
100
778 May 1 1 34 Jan
6*9
5 >8 Maria 8*4 Jan 11
6*2 inierican Grass Twine ..
*47s 5
*47s 5
125 4 1*M:ar
§478 4’s *47g 5
4 78 4 78 *4*4 6 Imer Hide & Leather__
6*4 Jan 16
5 *2 Nov 10 Jan
22
•20
21*2 •20
*20
20j4 20*4 •20*2 22
22
300 20 Marl3 SO^Jan 7 24 Nov 43 Jan
2 0 *a 20 H
De pref.....................
72
72*2 73
74
73;*» 74 *2 74*, 7-i1,
74>2 74*2 70
1.8SH 72 Apr 22 8 8 Jan 2| 35*4 Jan 94 7e Sep
76 imerican Ice Securities.
*12
15
13
*13
15
13
12*4 12*4 12
1,037 12 Apr 85 19*4 Jan 10 1 0a4 Dec 29*4 Jan
12*2 *12
14 American Linseed...........
*26
35
*30
35
35
*25
25 “2 26 *a 25
*25
30U 25 Apr 26 36 Jan 7 35 Dec 53 78 Jan
25
3D
Do pref.....................
63*4
033
4
63
63
64
64*4 64
64
63 *2 63 *2 62*4 03 Vmerican locom otive...
2,425 5534 Mar2<) 7534 Feb 16 5334 May 78 *2 Jan
•105 110 $ 106*4 106*4 •106 109
105 105 •104 110 *103 107
122 101 Mar26 111*2 Jan 21 103*2 Dec 120*4 Jaa
Do pref......................
*6
8
•5
*5
8
8
*5
8
*5
*5
9
8
imer. Malt Corp..............
57 *2 Apr 2 if7 *i Apr 2
*27
32
*27
*28
32
*27
32
32
*20
*20
32
32
Do pref.....................
297s Mar27 40 Feb 21
91
*89
*89
91
*89
91
§89*2 89*2 *89
*89
50: S6 Mar26 93 *aJan 7 92 *4 Dec 10124 Jan
91
m
imer Smelters Seopref B
130*8 131*2 132*4 135^ 133 *41357b J33 135*4 m ^ l ^ i 132*4 134 V Uner. Snielt’g & Refin’g. !13,320 104 >4 Mar25 *155 Jan 7 138 *2 Maj 174 Jan
108 108*2 108*4 l08a4 108 7» 108 7g io^ 7* io s 78 108 >9 108*2 108*2 108 Co
1,550 100 Mar26 117*8 Jan 7 112 Dec 130 Jan
Do pref......................
*195 240 *180 240 •185 240 *185 200 *185 200 •186 240 American Snuff...............
197*3 Jan 11 205 Jan 18 200 J’ly 5120 Jan
•90 110
*90 100
*90 100
*90 100
*yo 100
*90 100
<S5 Apr 1 §100 Apr 6 100 Deo 107 Jan
Do pref......................
8*8
•8
8*1
*8
8*2
*8
8*2
*8
8
COO 7*8 Mar2G 1034 Jan 6
8*2
9 34 No\ 15*4 Jan
8*4 American Steel Foundr’s.
•37
39
*37
39
•37
39
*37
40
*37
*37
40
40
40 May 53 *4 Jan
Do pref......................
34 Marl 4 47 *2 Jan
12^34 12334 124*8 126
125 126
124*4 125
12478 1 25
1243a 1‘>5K American Sugar Refining
5,386 11479 Marl4 137*2 Eeb 13 127 *2 May 15.7 Jan
•123 126 <125 125 *122 127 •122 1^7 *122 127 *122 129
It 122 Mar 5 131 Jan 2 128 *2 Dec l'4o Jan
Do pref......................
*120 125 •120 125 *120 120 *120 126 *123 1/5 <125 125
50 118*2 Mar25 133 Jan 4 130 J’ly 144 n8 Jan
imer. Teleph. & Teleg...
93
93
*91 <2 93
92 78 92 78 92*4 927# 93
92 7g 93
93
Uner. Tobao. (new), pref.
1 , 1 s* 86*2 Mar25 9 8*4 Jan 5 96 J’ly 109 Jan
30
30
30
30^ 30
30
30
•29*a 30
30
29 7a 2 \>7t, untjrican Woolen...........
1,060 24 Mar26 36*2 Jan 7 28 Nov 48 Jan
*96*2 971-j 96*4 9634 •94
9634 •94*a 96*4 <96*2 96*2 *94*9 97
565 95 Mar 14 102 7s J an 5 101 J’ly 110*8 Jan
Do pref......................
02*4 03*2 62*4 03*8 62
62*8 63v
61*4 02
62,j4 62*4 03
CAnaconda Cop..Par $2.5 46,S6u $53 Mai 14 3 0 2 34 Feb 16 223 *2 May 300 Feb
123 *112 125 *112 125 §120 120 *115 125
*112 125 •1 12
39 108 Mar 19 121*2 Feb 14 105 *2 Nov 178 Jan
Drooklyn Union Gas___
*11
13
•11
13
*11
13
*11
13
*11
*11
13
13
11 M arl 6 H ^ J a n 4 13*4 J’ly 2 1 34 Apr
L>runsw. Dock<fc C.Imp’ t
*40
*40
47
49
*40
47
*40
48
48*4 48*4 447g 45*. Jutterick Co....................
**345 41 Mar b 49 >8Jan 3 40 A pi 70 May
30
30
30
27*4 28*2 29*4
*29
30
*20
2 9 -'>8 29ng central Leather...........
2 ,0 u0 25 Mar26 40 Feb 16 3334 Dec 49 78 Jan
30
*90
97 *i 97
97
*96
97
97
97
{97
*90
310 89 Mar 26 102 Feb 8 9834 Dec 107*2 Jan
97
97
^ Do x»ref....................
35 *4 36*v 36*4 37
35
36
35*4 36*4 35*2 30
35 *2 35*4 Colorado Fuel & Iron___ 13,460 29 M arli 677g Jan 8 40*8 May 83 °g Jan
*26
27
26*8 *7\
27*4 27*4 27*4 27'g *27
1,700 20 Mar 5 283s Apr 6 17 May 30*4 Nov
28
•2 0 -a 27aB Jot & Hock. Coal & Iron.
131 133*4 134 134 •132 134
*130 132
133 133
133 134
Consolidated Gas (N. Y.)_ 3,793 110 Mar 16 140*4 Mar 1 l$o ®g Apr 18134 Jan
203t 20
20*8
•1934 20
19*4 20
20
*19*2 *0*8 20
20
2,477 173s Mar26 243i Jan 22 18*4 J’iy 28 Apr
Jorn Products Refg........
78*2 78*2 77*4 78*2 77*» 77*2 7734 7734
79
*78
79*8 *18
840 77*2 Apr 25 88 J an 28 74 *a May 8 6 34 Apr
Do prel........... .........
70*4 71
*69
70
7 0 ‘s 71*8 70 >4 70=* 70
70*4 70*8 70** Hstillers Securit’ s Corp.
5,767 62 Mar26 78 Feb 13 5L Jan 74=8 Sep
140
140
140
140 *120 150 •130 150 *130 150
•136 145
310 137 Apr llrf 163 Jan 16 138 Jan 199 Jan
Pederal Mining & Smelt’g
*84
88
90
88
87
87
84
84
85*8 86*2 87
87
850 80 Mario 97 Jan 14 91 J’ly 112 7g Jan
Do pref......................
149 149*2 148 148*2 148*2 148 *2 147 “a 147*0 1eneral Electric..............
147 150
147 147
4,111 £136*2 Mai 14 163 Jan 22 *156 Dec 184 Oct
*11*6 135 •125 135 •125 135 *125 135 *125 135 <130 130
50 120 Mar28 152 Feb 13
Iranby Cons M S & P ....
145* 14«* -14
15
*14*2 14*4 *14*2 15
14 *9 14*2 International Paper......
13*4 14
600 13 Mar26 18 *2 Jan 7 16*a Sep 26*4 Jan
.7 4
74*4 74»4 74
76
*73*2 76
*74
76
74*s 73*4 73*4 L Do pref......................
845 73 Apr I 81 Feb 11 80 Dec 90 Jan
*43
*43
49
*43
49
49
*43
49
*43
43
500 40 Marl 4 6 0 34 Jan 16 48 Sep *95 Jan
49
43
nternational Power......
30
31*4 {30
*27
30
*29
26*a 2834 29
*28
30
2,276 26 Mar 25 41 Jan 7 28 Jan 60 May
30
nternat Steam Pump__
*77
80
*70
80
*75
80
*78
79
79
*78*2 81
81
100 74*2 Mar .>6 81 Jan 14 79 Jan 92 May
Do pref......................
09
70
*68*2 70
70
*68*2 70
09*4 *09
697, 69 78 lackay Companies.......
70
600 *62*2 Marl5 75*4 Jan 24
09
*6 8
69
68*2 68 >2 69
09*8 69*8 <09
69
09
650 *63 Mar 15 71 Jan 24
69*,
Do pref.....................
*76
70
76
77*« 77*4 77*4 76*4 76-*, *70*2 77
*70*2 77
400 75*2 Mar 14 86*4 Jan 16 62 May 79 *2 Deo
^rational Biscuit...........
•112*2116 •112 116 *113*2116 *112 *2 115 *118*4 115 •HB^ 1 15
111 Mar26 11738 Mar 6 113 *2 Jan 118*2 Oct
Do pref......................
•11*2
1 2 *s * 11 *2 12*2 *12
12*2 *11*2 12*2 *12
* 11*2 12*2
10*4 Mar26 ld ^ J a n 6 12 May 18 *a Jan
Tat Enameung&Stamp’ g
12*2 \
82
'81
82
86
*81
85
*81
84 “2 *81
*81
100 79 Mar28 87 Feb 15 82 Sep 8 8 *2 Mar
88
85
Do pref....................
03*4 62*2 63
62
61*8 62 7b 02
60
01*2
62
62*2
02*4 JationalLead................... 10,900 49 Mar 25 7G*4Jan 7 66 May 95\ Jan
99
99
99
99
99
•b8*4 99
<99
*98*4 99
920 98 Marl 5 103 Jan 5 100*4 J’nf 106*4 Jan
99
Do pref.....................
99
19
1934 19
19*8 18*4 19
19*8 20
18*4 19*2 *11*4 193* fewh'se Mines&S.Par$10 6,800 $18*2 Apr 15 $ 20*4 Apr IS
110 1167l 116*2119*8 *117 120
•114 117 {117 117
2 ,»S0 100 Mar25 14 1*2 Jan 7 i'3 3 " J’ly* 163*4 Jan
119 »9 119*4 lew York Air Brake......
74
75
*74
*72
73
600 01**4 Marl4 89 34 Jan 4 87 *a Nov 107 Jan
74 »8 74*2 74*i *74
75
*72*2 74*2 forth American Co., new
29
28
27*2 28
28
28*2 2 a *2 29
27*2 27*2 20*9 28
1,900 2l*aMar2& 41 4 Jan 6 2834 J’ne 51*2 Jan
acific Mail....................
93 7e 92*4 93*4 •92 *2 93
92*2 927g 93
93*4 93
*» 2 \ 93*2
eop. Gas-L.& O. (Clue.) 3,000 85 Mar 14 93®8 Jan 4 88 J’iy 103 Jan
*12
12*2 •11*2 12*2 * 1178 13
' U 7* 13
1 1 78 12*8 *12
300 11*8 A prl3 1678 Jan 16 13*4 May 18*8 Nov
13
‘ittshurgh Coal Co..........
*63
*63
*53
65
<52
62
60
66
*53*4 55
*63
50 49 Marl5 ^O6^ Jan 4 50 J’ly 62*2 Jan
65
Do pref....................
*36*2 36*2 30*a 37*k 37
37*2 37
37
*30*2 37
30
2,810 30 Mar 26 67 Jan 10 43 May 64°s Jan
3034 ‘ressed Steel Car,...........
94
93
93
93*4 93*2 93°8 93*2 93*s *83
93*4 §94
1,561 8 6 Mar26 997g Jan 24 95 May 105 Feb
Do pref........ ............
94
168 103 •105 170 *168 170 *160 170
•106 170 •106 170
18- 150 Marl4 181*8 Jan 8 180 Dec 270 N ot
’ullman Company...........
40*4 45*4 44
45
44
*43*2 45
43 7» 43 7* 44
*43*2 45
1,200 39 Mar2U 67 *2 Jan 10 44 May 6 2 34 Jan
[> ail way Steel Spring...
*90
*90
*90
94
*91
•UO 93
94
93
*91
95
90 Mar23 99 *2 Feb 15 9734 J’ly 107 Jan
95
LVDo pref......................
28»* 2 8 34 29
29*2 29
29*2 28*4 29
28*g 28*4 tepublic Iron <fc Steel...
6*8*00 22 *2 Mar 26 41 Jan 7 22*4 May 41*4 Deo
28*8 29
85
*84
85
85
85
86*2
85*2 85*2 85 \
86
85
2,805 78 Mar25 100 Jan 7 91 May- 110 >2 Jan
Do pref......................
80
*63
64
64
63
64
64
64
54
53*4 54
1,510 42 Mar 14 7 7 34 Jan 7 68 *2 J’ly 97 *2 Jan
53*4 53*2 Moss-Sheflieid St. & Iron
•
* ...... 100
•........ 100
100 • ...... 100 * ........ 100
100 Mar 6 107 Jan 11 101 Oct 113 Apr
•98 100
3 Do pref......................
1*4*6* 146
’ 200 130 Mar26 162 Jan 4 129 Jan t l 66 Nov
?enn. Coal, Iron & R R ...
40*8 40->4 40*4 897g 39 78 39
4*o'«b '\ oK 40
39*4 39 *9 39 7e [Tennessee Cop. Par $25 3,480 $34 78 Mar26 $53 >2 Mar 1
*71
78
*70
*70
*70
80
‘ 71
78
80
•74
68 Mar26 85 Jan 17 60 May 88 Oct
80
78 ’ rexas Pacific Land Trusi
5 *2 Sep 15*4 Jan
5** Apr 13 8 *aJan 16
**•••• . . . . . . ........ j ] mon Bag A Paper......
64
54
200 £0*8 Mar25 61 Jan 7 52 Oct 84 Jan
U Do pref................. .
87 *« 37°* 37** 37*8 *37
•sT'i *3*734 *87“ **37*'
720 30*»Mar25 49 >2 Jan 6 43 *2 May 53 «. Jan
88
37*8 37*6. J. S. Cast I. Pipe & Foun.
•go
*79
86
82
82
*76
85
«8 6
85
200 74 Mar26 89 Jan 15 83 >4 Dec 9678 Jan
85
*8 J 85
Do pref......................
110 110
*99 106 {103 103
105 105 <106 105
255 100 Mar 6 {117 Jan 9 109 May 138*2 Jan
<111*4 111 *4 Jnlted States Express...
*72
•70
74
74
74
74*2 74*2 *72 -70
400 71*4 Apr 16 90 *2 Jan 4 75 Aug 94*2 Jan
75 •
J S Realty <fc Iiuprove’nt
77
*16
*17
19
19
•16
21
*16
*17
20
20
•1*7** 20
13*2Mar25 30*4 Jan 28 24 Mai 40*8 j ’ne
I S Reduction & Refin’g
*60
*62
*52
66
63
64*a 64 >2 *52*2 65
65
•52
*100 43\ Mar'..' 68 Jan 7 60 Mai 84 J'ne
60
Do prei....................
M
i
42*2 42*2 43
43
•41*4 43
*42*a 43*4
43
400 307g Mar2t 52*2 Feb 16 38 J’ly 59*2 Oct
<41*4 41*4 Jolted States Rubber___
102 103
•101 103
102*4 103
103*4 103*4 <103*2 103*2 •101 -*8 101*2
Do 1st pref................
73fc 99 *2 Mar21 109 78 Jan 7 *104jl« J’ly *116 Jan
•72
75
*72
73
*71
73
72*4 72*4 *72
73
72
200 68 Mar2t 78*sJan 7 76 May *87*2 Jan
Do 2d p r e f..............
72
307s 37*8 87®8 38*v 37*4 88 >2 37*4 38*8 37*8 37*4 37
37*4 Jnited States Steel......... 218,710 31 *2 Mar 25 603s Jan 7 32*8 J’ly 50 *4 Oct
100 160 *, 100»4 101*8 101 1 0 l®» 101 101*2 100 \ 101 >4 101 101*2
Do pref..................... 24,764 9 1*2 Mar 26 107\ J a n 7 9834 j ’ly 113 *4 Jan
29
29
*28
29
*28
29 *2 29*2 29*4 30
29*2 29*2 80
[Utah Copper___Par $10 1,800 $24 Mar25 $39 *2 Mar 4
*27
29*2 38 4 28\
28 *a 28*4 28*2 28*2 28*8 28 *2 *28
700 25*2 Mar2i> 3**8Jan 7 S i " J’ly 58 Jan
29
,'irguua-Carolina Chem..
*103 106*2 104 >8104*8 •103 108
104 *4 104*4 104*8 104*8 *103 104
460 101 Mar 26 108 Jan 9 104 J’ly 117*s Jan
Do pref......................
72
72
*70
*68
•08
74
74
*70
76
72
70
200 55 Mar 2d 97 Jan 22 38 May 93 Deo
70
Virginia Iron Coal & C..
*230 280 *230 280
260 200 *240 300 •240 300 •240 300
100 255 Apr 12 {290 Jan20 233 Mai 305 Oct
11/ ells Fargo <S> Co......
827g 83*8 83*8 83*4 82
"82** 83
83*4 83
1,681 79*aMiir 6 85 Jan 10 isS3s4 Dec 94*4 Jan
83*4 *83
83*4 i t est’ n Union Tele’ gph
145 145 *144*8 145
•144 140 *144*8 145
1,150) 143*4 Apr 25 lo t Jan 2 148 Aug 176 Jaa
143\ 144*4 144 144*4 iVost’ gh’ seEliSaMfg asses
*147 166 *147 166 *147 106 *147 185 *147 105 }145 145
Do 1st pref................
10 3145 Apr20 {145 Ayr2G 162 Nov- 188 Jan
•86

88

•86

97
I433p
83
37
60 *4
15
26
13
29
17
19*,
42

U

W

P

BANKS

Ha 11k*
Union Exol
U S Excha’t
Waslu H’lit.sf
W est Sldet.
Vnplrrillfil

AND

TRUST

C O M P A N IE S — B R O K E R S ’

Q U O T A T IO N S

Ask
Bid Ask Trust Cos. Bid Ask Trust C o’ h Bid Ask. Trust Co’s Bid Ask Trust Co’s Hid I Ask
Banks
220 240
N. T. CITY
Milt. Alliance 195 S05
Fifth Aye Tr
BROOKLYN
550
BROOKLYN
122*2 132*9
Bankers’ Tr. 490 510
Fulton.......... 300
N Y lAIe&Tr 10 O0
Brooklyn Tr 425 450
225 . . . . . .
Bowl’gOreen 420 460
(Guaranty Tr 4C0 51*6 NewYork Tr 715 730 Citizens’ ...... 140 150
First............ 390
600
BroadwayTr. UO 400
Guardian Tr 240 260
StauflardTr’i
410 •Flatbiwh__ 860
400
Home BankT 160 175
Carnegie. .. t235*»
H udson...... 95 105 Titlwiiufc Tr 5'23 150 Franklin .... *10 320*
Manufactrs’ . 4f0
Central Tr’st 1860 2050 Kniok’rb’ k’r 1260
Tr Co of Ain.
ILuuiltoii__ 315 330
Mechanical . 300 320
Union Trust 1250 1300
Columbia__ 220 '-•30
Law T I t&'l’i
1109 176
270
N a»*au........ 280 280
Lincoln Tr... 370 390
Commercial. 215 130
USM tR&Tr 470 480
200
BROOKLYN
Nat City__ , 305
Commouw’th
Manhattan..
145
450
Unit Stiat**. 1S40 LS70
460 475*
North Sidell. 350 375
Empire........ 330 310
Mercantile..
Van N’deaTr 276- 800
1S6 O
3 10 325
ProepectPk* 150 165
175
Equitable Tr
135
400
Metropolitan. 570 >90
160 270
150
ifurmLo & Ti
... . Terminal__ 140
1300 lloi'tftuTrusi
T25
200 215
130
Slutoal........ 126 " 130
WinUngrtKt. a25
t Bid■*Md a*K.capiioe«; no sales, on this day, { Leas than 100 shares, t Ex-rights. 6 N 6 w stock, c Efx-dl videndi ajift tlg-b-t*. dNow quotod dollars per*sliar«wale at Stock Exchango or at auction this week. 9 Ex gtook dividend, t Trust Co. oortittoatea. 1i Banks marked vrith a paragraph (V) arc tiMVv
Bid




H n a *:

New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
BONDS
JST. Y . S T O C K E X C H A N G E
W e e k E x d u jg A p e i l 26

P r ic e
F r id a y
A p r i l 26

U. S . G o v e r n m e n t
5 2s c o n so l reg iste r e tt.c il9 3 l
C S 2s c o n so l c o u p o n ___ (J1930
U S 3s r e g is t e r e d ............. /cl91t
U S 3s c o u p o n ...................../cl9 1 b
U 8 3s re g sm all b o n d s .. >el91f?
U S 3 s c o u sm all bonds..A:191S
U 8 4s r e g is t e r e d ............. A1907
U S 4s c o u p o n ....................A.1907
U S 4s r e g is te r e d .................1925
U S 4s c o u p o n .......................1926
U S P <m C ;in 10-30 y r 2 8 .fcl9 3 (
P h iliijp in e isla n d s 48.1914 -34
P u b w k * a c d i m p r e f 4 a 1935
P u b v k s and im p r e g ...l9 3 1 :
K oreijrn G o v e r n m e n t
Jap an ese G o v t 6s s terl’ g .1911
2d series 6 s ........................ 1911
£ loan 4*128 c t fs fu ll p d . 1925
2d series 4 b s c t fs fu ll paid.
6 loan 4s c t fs fu ll p a id ..1931
R ep u b o f C u ba os e x te n d e b t..
U S o f M e x ic o 8 ( g 5s o f 1899
G old 4s o f 19 0 4 ................. 1954
S t a t e .S e c u r itie s
A labam a c u r r fu n d 4 s ___ 1920
D ist o f C olu m b ia 3 -6 5 s___ 1924
L ou isian a n e w co n s o l 4 s . .1914
N orth C a rolin a c o n s o l 43.1910
6 s ............................................ 191'
S o C a rolin a 4 b s 2 0 -4 0 ........1933
T en n n e w s ettlem en t 3 s ..1 9 1 3
V ir g in ia fu n d d e b t 2 - 3 s .. . l 9 9 i
6s d e fe r re d B r o w n B ros ctfs

Q-J
Q-J
Q-F
Q-F
Q-F
Q-F
Q-J
Q-J
Q-F
Q-F
QN
W- F
Q -S
Q -F
A-O
A -O
F -A
J J
J -J
M-S
Q -J
J -D
♦7

W eek's
R an ge or
L a st Sale

B id
A sk
104 1 0 4 b
1 0 4 ’-a Sale
102*4 103 b
103 “s 104

C

Miqtl
104b
104H

Low JJiah
104 b 105*8
104 b 1 0 6 b
1(12 3^ 10234

10234 102*<

103*4 A p r ’ 07
107 J ’n e ’02
10214 " I I . - 104 b O ct ’0;1 0 1 *4 102
100=8 M ar’ 07
10l b l 02
130*4 M ar’ O
I 8 0 b l3 l* > 130=8 a .p r ’ 07
104 ^4 105
105 *8 O ct ’ 06
111 M ay’ 06
109 b -

1294 130b

101=8 101=8

10238104

100=8101^

37 1 0 0 b 10 i b
129 130'
129 b 1 3 0 'b

98 b Sal & 9 7 b
98 b
97 b
98*4
9 8 14 Sale
91b
9034
913b Sale
9 1 b Sale
91
9 lb
S3*<
83 >2 bale
83 b
*102 Sale 102
102
97 b 99
98 b A p r ’ 0
*94
94b 94b
94b
hese a re p r tees 0 n the 0

96 34 1 0 0 :sp
96b100‘
8 7 34 94*g
87 b 91;
79
85 >4
9S<4 i0334
96*8 99
92 b 94 b
0 / $5 to &.

X
t
t
i
t

J -J
FA
J -J '..........103
J -J 100 ......
A-O 124 .......
J -J
96
96b
J -J
93
J -J
.......... 24

R a ilr o a d
\ labam a C en t See S o B y
x X la b a M id i See A t Coast L in e
A lb a n y & Susa See D el & Huu
A lle g h e n y V a lle y .See P e n n BP,
A lle g & W e s t See B u ll B & t
A n n A r b o r l s t g 4 s ..........A1995 Q-J
A tc h X & S i)'e—G en g 4 s . 1995 A-O
R e g is te r e d .......................... 1995 A-O
A d ju stm en t g 48............A199c N ov
R e g is t e r e d ...................7il995 N ov
S tam ped........................ A1995 M-N
C o n v g 4 s ............................1955 J-D
D eb en tu res 4s S eries F . 1908 F -A
S eries G ........................... 1909 F-A
S eries H .......................... 1910 F -A
S eries 1 ............................ 1911 F -A
S eries K ...........................1913 F-A
E a st O kla D iv 1st g 4 s . .1 9 2 8 M-S
A t l K n o x & N See L & N
A tla n tic C oa st 1st g 4S.A1952 M-S
C h arles & S a v 1st g 7 s .. 1936 J -J
Sav F & W 1 st g old 6 s . . 1934 A-O
1st g old 5 s.......................1934 A-O
Ala, M id 1st g u g o ld 5s ..1 9 2 8 M-N
B ru n s & W l s t g u g 4 8 ..1 9 3 8 J -J
L & N c o ll g 4 s ............... 01952 M-N
8 il S p O ca <fc G g u g 4 s ..1 9 1 8 J -J
A t la n t ic & D a n v See S ou th Ry
A u stin <fc N W »VeeSou P a cific
T > a lt & O h io p r io r 1 g 3 b s . 1925 J - J
I-> R e g is te r e d ................. A1925 Q -J
S o ld 4 s ..............................ft.1948 A -O
R e g is t e r e d ...................A 1948 Q -J
P itts J u n e 1st g o ld 6 s . . .19 2 2 J - J
P J u n <fc M D iv 1 st g 3 >281925 M-N
P L E & W V a S ys r e f 4 s l9 4 1 M-N
S o u th w DiV 1st g 3 b S .. .1 9 2 f J -J
R e g is t e r e d ................... / i l 92 5
J
M o n o n B iv 1st g u g 5 s ..1 9 1 9
A
C en O hio R 1st c g 4 b s - .1 9 3 0 M-S
01 L o r & W c o n 1st g 5s 193i; A -O
O h io R iv e r B B 1st g 5 s .1936 J-D
G en era l g o ld 5 s ............. 1937 A-O
P itts C lev & T o l 1st g 6s 1922 A -O
P i t t s * W est l s t g 4 s . ..1 9 1 7 J - J
S ta t I s l B y 1 st g u g 4 b a 1943 J -D
B a t C re e k & S See M ic h C ent
B e e c h C reek See N Y C & H
B e lie v & Car See I llin o is Cent
B k ly n & M o n ta u k See L o n g 1
B rm is So W es t See A t l C oast L
B u ffalo N Y <& E r ie See E rie
B u ffalo B & P g e n g 5 a . . .1 9 3 7 M-S
A l l & W e s t 1 st g 4s g u . .l 9 9 8 A -O
C l & M ali 1st g u g 5 s . . ..1 9 4 3 J -J
R o c h & P itts 1 st g 6 s ...1 9 2 1 F-A
C on sol 1st g 6 s ............. 1922 J -D
B u ffalo & S o u th w e s t See E rie
B u ff <fc Susq 1st r e f g 4 s .d l9 5 1 J - J
Bur C R & N
See C B I & P
anada, S ou th 1 st 5 s ........ 1908 J-J
2d 5 s ................................... 1913 M-S
R e g i s t e r e d .. . .. ..............1913 M-S
C a rb & S h a w n See 111 C en t
C a rolin a C en t See S eab A ir L
Q srth ag e & A d See N Y C & H
C e d R Ia F & N SeeB C R & N
C en B r a n cn R y See M o P a c
C en t o f G a R R 1st g 5 a ..p l9 4 5 F -A
C on s ol g o ld 5 s ...... ............ 1945 M-N
R e g is t e r e d .......................1945 M-N
l e t p r e f in c o m e g o s ___ p l 9 4 5 Dct
S tam ped ..................... .............
2 o p r e i in c o m e g 5a___ p l9 4 5 O ct
S t a m p e d ............... ...................
3d prer in com e g 5 s___ p l 9 4 5 O ct
S t a m p e d .......................... .........

L ow
104b
104b

S ince
J a n u ary 1

111
117b
105 b
100 b
126
120
96
9534
23

M a r’ 02
J ’ n e ’OO
D e c ’ 04
A p r ’ 07
M a r’ 07
M ar’ Ol.
A p r ’ 07
J a n ’ 07
23

100 >4 1 0 0 b
126 126
95
96
Vt534 95*4
20
23

86 3ale
9 8 7s Sale

86*4
86*4
86b
98=s
9 9 b 170 97 b
101 J a n ’ 07
101
92 Sale
90
91b
92
95 S ep ’ 05
" 9 3 " Sale
96”
91b
$2
100 Sale
93b
99 ........
I F e b ’07
99
100 J a n ’ 06
96 F e b ’ 07
96
98 b N o v ’ 04
94 N o v ’ 06
9 2 b ......... 91 A p r ’07
91

100

95 b Sale

91

........

........

88

91

93

94b

101*e

95b

32

A -O
J -J
J -J
M-N
F -A
F -A
F-A
F -A
J-J
J -J
J -J
A-O
J -J
F -A
A-O
J -J
J -J
M-S

96
91
9 S 7e

84

89b

90b

93b

132 7g J a n ’ 06
112*8 J a n ’ 04
1 1 4 b8 N o v ’05
9 9 b M ar’ 06

88

88

9 6 34 D e c ’ 06

92<%
93b
95 J ’n e ’ 06
100 b
99 b
100*8 1003 g
120 O ct ’ 01
........ 88*4 89 M a r’ 07
9 4 34
9 4 3<
9334
89
89*4 Sale
89 b
89 O ct ’ 06
101 .
1 0 5 78 F e b ’ 07
109 A p r ’ 05
110 A p r ’ 07
109*4 '
116 M ay’ 06
1 1 1 b 1 1 3 b N o v ’ 06
110 . . .
1 1 9 b M a r’ 04
94 M a r’ 07
9 2 b ...
100 N o v ’ 04
9 3 b Sale
89
100 b Sale

98 b 102*8
9 8 b l0 1 b
89“ ' 96 ' '
93
96
88^, 90*4

.....

10 5 b 105 b
110

113=8

.....

114
97

115
103 b
103
124
118*4

110

■116
121*4
--------

94

116
109 b Sale
107
90
*85
70
75

----

112
102

116
108 b
113
85 b
86
74
74*4
60 b 6 3 b
62
62

102
85

89*4 96=8
39 100
101

M a r’ 07
109 >4
A p r ’ 06
A p r ’07
A p r ’ 07
A p r ’ 07
A p r ’07
J a n ’ 07
A p r ’07

102
105

____ 101
86

Sale

.......

106 b

84 b

___

87
86

.........
76
78*4
.........

89
90
Sale
72 7«

88 b

A p r ’ 07
85*4
103
103
100 A p r ’ 07
105
105 b
110 F e b ’ 96
87 F e b ’ 07
84*4
84*4
*< A p r ’ 07
103*4 N o v ’ 06
104 D e c ’ 06
95 J ’n e ’ OO
93 b O ct ’ 06
92 b Jan ’07
79 b 169
78b
72 7, A p r ’07
109 Mar*98
98 M ay’ 06

86

aD ue Jan

118b
103 b

118*4 123 b

9 4 b A p r ’ 07
101b
1 0 2 b A p r ’ 07
103 N o v ’06

PAGES

BONDS
N. Y. STOCK E X C H A N G E
W e ek E ndtng A pk jl 26

P rice
P r id a v
A p r i l 26

W eek’ s
Ram/e or
Last Sale

ng-B
R anffe
!
Since
-o J a n u a r y 1

A s k Low
Hiy/i
L ow H iyn
C en t o f G a R K — (C o n )
t>3 J ’ ne'06
C hatt U iv pur m on g 48.1951 J-D
115 b D e c ’05
M ae tfc N o r D iv 1st g d s.1 9 4 6 J-J
115 N o v ’05
M id (,+a & A tl D iv 5 s ___ 1947 J-J
M o b ile U iv 1st g 5 s ........1040 J-J 108 ......... 115 b A u g ’ 05
Ceu R K & B o f <ja c o l g 5a ) 937 VI. N ......... 106 *v 105 A p r ’07
1 0 5 b 108
124 *8 125
(Jent of N J g e n ’ l g o ld o s .1 9 8 7 J -J
123=8 1 2 3 ’
123*4 1^6*4
12o *4 M ar’07
R e g is t e r e d ...................*198 7 Q -J 122 123
12 3 *4 12 5 1
A m D o ck <fe Im p g u 5 s .. 1921 J -J 108 b ......... 109 b Ai>r’ 07
109 b i l l
Le<fe H ud R gen g u g 5 s 1920 J - J
102 b .........
lOOu
Leh cfc W ilk s B Coal 5 s. .1912 M-N 100 ........ 100*2 100 \
100
7
101
Con e x t g u a r 4 b 8 ___ j/1910 Q-M 100 Sale 100
N Y & L o n g B r g e n g 4a 1941 M-S ......... 105
Cent P a cific See So Pncilic Oo
So A p r ’ O'i
85
83 b
C e n tV e rm o n t 1st sru 9 4 s .e D '2 0 Q -F
Chaa & s a v s e e A t l C oast L in e
100 105
d i e s <fc O hio k 6s ser A ../t I 9 0 8 A-O 1 0 1 b ....... 101 A p r Ov
104
.......
F
e
b
’
o
,
107
107 107
G old 6 s ............................... a l9 1 1 A-O
115 A p r ’O'i I
1st co n s o l g 5a...................1939 M-N 114*4 115
113b U S
116 J ’ u«;’06
R e g is te r e d ...................... 1939 M-N
102*81 43 99 7s 100*4
G eneral c o ld 4 b s ............. 1992 M-S 102b Sale 102
R e g is te r e d ...................... 1992 M- S ......... 102 'v 104 M ay’0 6 ___
112
F e b ’06 . . . .
C raig V a lle y 1st s 5 s ___ 1940 J - J
9
B & A D iv l 8 t c o h g 4 s . . l 9 8 9 J -J
98*8
9 6 4 100 b
92 *2 M ar’O', I
2d co n s o l g 4 s ...... ..........1989 J -J
92 b 92 *2
113 b F e b ’ Oo
W arm S pr V a i 1st g 5 s .. 1941 M-S
99*4 F e b ’ 01
G re e n b r ie r B y l s t g u g 4s ’ 40 M-N ..........100
*0
C h ic & A lt R R re f g 3 s . . .1949 A-O ......... 7 6 b 76 b
76
76 b
69 b
R a ilw a y 1st lien 3 b s . . . 1950 J -J
68 b 69 b 68*4
67*4 F6=,
8 0 b M a y ’ 05
R e g is te r e d .......................1950 J -J
99 b
99 *4
99 100 4
C h ic B u rl cfc Q— D en v D 4s 1922 F-A ” 9 9 '
92 Sale
91
9‘
Illin o is D i v 3 b s . . ........... 1949 J -J
89 b 92 b
90 Sep ’06
R e g is te r e d ...................... 1949 J -J
102 b
100 1 0 2 b
G o ld 4 s ............................. 1949 J - J ib‘ i*4 SalV 102
I o w a D iv s in k fu n d 5 s . .1919 A-O 105 b ......... 1 1 0 b J a n ’05
9 8 b 9 9 *s 99*8
99*V
S in k in g fu n d 4 s ............. 1919 A-O
9 9 *8 104
101=8 102
101°b F e b ’ 07
N e b ra s k a E x te n sio n 4 s .1927 M-N 1 0 1 b
1 0 1 b D e c ’ 06
R e g is te r e d ...................... 1927 M-N
100 J ’ l y ’ 06
S o u th w e ste rn D iv 4 s ___ 1921 M-S
J o in t b o n d s See G rea t N ortli
I A p r ’ 07
10 2 b 104
D e b e n tu re 5 s .....................1913 M-N 103 b
5 A p r ’ 07
106 109
H a n <fc S t J o s c o n s o l 6a. .1911 M-S 105*4
1 O ct ’ 06
C h ic & E III r e f <fe im p g 4 s 1955 J - J
93
1 0 2 78 A p r ’ 07
1 0 0 b 1 0 2 7*
1st s f cu r 6 s .....................190' J -D 102=8.
132 O ct ’ 06
1 st c o n s o l g 6a...................1934 A-O
1 1 2 b A p r ’ 07
112 1 1 7 b
G en eral coh aol 1st 5 s ___ 1937 M-N 113 115
1 1 8 b F e b ’ 06
R e g is te r e d ...................... 1937 M-N
C h ic & In d C R y 1 s t 5 s .1936 J-J i * i o ' * " I " 1 1 3 b F e b ’ 07
113b 113b
C h ica g o <& E r ie See E rie
10 125 126
126
126
C h ic In <fc L o u is v r e f 6 s ...1 9 4 7 J - J ..........126
108
.........
107 A p r ’ 07
R e fu n d in g g o ld 5 s ............1947 J -J
107 1 1 1 7*
L o u is v N A & Ch 1 st 6 s . 1910 J - J
1 0 3 b ........ 1 0 4 b 104 b
104 b 1 0 4 b
C h ic M il &, St P te rm g 5s 1914 J - J
1 0 4 b ........ 103 M a r’07
103 1 0 6 b
101 107
G en eral g 4s se rie s A ..e l9 8 9 J - J 103 104
103 b 103 b
R e g is te r e d .....................el989j
104 b O c t ’ 06
'9 1 b ’ 91*4 9 1 b
G en era l g 3 b s series B .e l9 8 9
92
90 b 92 b
C h ic <fe L Su D iv g 5a___ 1921 J - J 1 0 9 b . . . . . . 1 1 5 b O ct ’ 05
112 U U 34 112 A p r ’ 07
C h ic & M o B iv D iv o s . . . 1926 J -J
112 1 1 3 b
C h ic & P a c D iv 6 s ............1910 J -J 104 b ......... 108 A p r ’ 08
Ch ic & P W l s t g o s ........1921 J -J 1 1 1 b .......... I I l b A p r ’ 07
110
lllb
D a k & G t S o g 5 s ............. 1916 J -J 1 0 5 b ......... 106*4 F e b ’ 07
106*4 106*4
F a r & S ou a ssn g 6a........1924 J -J 119 .......... 1 3 7 b J ’ l y ’ 99
H a s t & D D iv 1st 7 s ........1910 J -J 108 .......... 1 0 8 b F e b ’ 07
108 b 108 b
1st 5 s................................. 1910 J -J 101=8......... 106 A u g ’ 04
I & D E x te n 1st 7 s ..........1908 J -J
182 b A p r ’ 06
LaCroaae & D l a t 5 s ___ 1919 J -J
107 b ........ I I I N o v ’ 06
1 0 2 b 103
M in e ra l P o in t D iv 5 s ___ 1910 J -J 102 b ........ 102 b A p r ’ 07
10 2 b 105^
So M in n D iv 1st 6 s ..........1910 J -J 1 0 5 b ____ 1 0 5 b
105*4
S o u th w e s t D iv 1s t 6a___ 1909 J -J 1 0 3 b ........ 104 Jan ’ 07
104 104
W ia & M in n D iv g 5 s ___ 1921 J - J 109 b ........ 109 A p r ’07
1 0 7 b U 0*4
M il & N o 1st M L 6 a ....1 9 1 0 J-D *104 b ........ 1 0 6 b F e b ’07
106 b 106 b
1st c o n s o l 6 s ...................1913 J-D 106 b ........ 1 1 1 b F e b ’ 07
110b l l l b
1 2 0 b F eb ’07
C h ic & N o r t h w c o n s 7 s ___ 1915 Q-F 1 2 0 b 123
1 1 9 b 121
102 102 ,
E x te n s io n 4a..........1886-1926 F-A 101 ....... 102 J a n ’ 07
104 F e b ’07
104 104
B e g is te r e d ............1886-1926 F-A
96
98
9 5 b M a r’ 07
G e n e ra l g o ld 3 b a ............. 1987 M-N
96 b 9S
95 F e b ’ 07
B e g is t e r e d ...................p l9 8 7 Q-F
£>5
95
S in k in g fu n d 6 s . . .1 879-1929 A -O i d e b i : : : : 111 O ct ’ 06
R e g is te re d ............1879-1929 A-O
114 b F e b ’ 06
S in k in g fund 5 s . .. 1879-1929 A-O 1 0 4 b .
10634 N o v ’ 06
R e g is te re d ............1879-1929 A-O
107 b J ’n e ’ 06
D e b e n tu re o s .....................1909 M-N 1 0 2 =8 ;
1 0 0 b 102<b
R e g is te r e d ...................... 1909 M-N
101 A p r ’ 07
100 b 101
D e b e n tu r e 5 s . . . . ..............1921 A-O 103 ......... 107 J a n ’ 07
107 107
R e g ia te r e d ...................... 1921 A-O 103 ......... 108*4 Jan *04
S in k in g fu n d d e b o s ........1933 M-N 113 ......... 1 1 3 b A p r ’ 07
:i 13 b 114*4
R e g is te r e d .......................1933 M-N * ..........113
117 F e b ’ 06
N o rth lllin o ia 1st 5a ___ 1910 M-S 1 0 1 b ......... 1 0 5 b D e c ’ 05
O tt C F & St P a u l l a t 5s 1909 M-S
1 0 0 b 102*»
99 b _____ 100 *4 M ar’ 07
W in o n a & St P e t 2 d 7 s .. l 9 0 7 M-N 102 ........ 102 b D e c ’ 06
M il L S & W e s t 1st g 6s 1921 M-N 1 2 3 b ......... 1 2 2 b F e b ’ 07
122 b 122*4
113 113
E x t * Im p a fu n d g 5 s 1929 F-A 113 s a io 113
113
A sh la n d D iv l a t g 6 a ..1 9 2 5 M-S 122 b .......... 142 b F e b ’ 02
J
J
1
2
8
b
F
e
b
’
06
.
.
.
.
M ic h D iv 1 s t g 6 s . ........1924
122 b .........
109 Sep ’ 03 l___
I n c o m e s .......................... 1911 M-N 100
C h ic R o c k l s l & P a c 6 s ...1 9 1 7 J - J
114 11C*»
1 1 .5 b ......... 114 M ar’ O"
R e g is te r e d .......................1917 J - J
U 3 b ......... 1 1 6 b M a r’O
116b 116b
100 '3 1 98*, 1 0 0 b
G e n e ra l c o ld 4 s .................1988 J -J 100 Sal 6 100
R e g is te r e d ........ .............. 1988 J -J
99 b 99*4
R e fu n d in g g 4 a ............... 1934 A-O
89*s Sale
89b
8 9 *b i o e 89
91*4
97 J ’ l y ’ 04
C oll tr u s t S e n e a H 4s . . 1910 M-N
92 b N o v ’ 06
J 4 s ................................... 1912 M-N
90 b Jan ’ 07
M 4 s ................................... 1915 M-N
‘ 9'6 'b "9 0 b
93 M ay’ 04
N 4a................................... 1916 M-N
90*4 F e b ’ 07
O 4 s.................................... 1917 M-N
90*4 90*4
86 Sale
90
P 4 a ................................... 1918 M-N
1 86
73 b Sale
77
C h ic B I & P a c R R 4 s ..2 0 0 2 M-N
72 b
73 b 200 68
R e g is te r e d ......................2002 M N
79 D e c ’05
88 Sale
C oll tr u a tg o ld o s ......... 1913 M-S
87
88
24 82
91*4
B u r C ed B & N o r t h e r n C on la t <fe c o l t r g 5 a ...1 9 3 4 A-O ..........115
117 117
117 Jan ’ 07
B e g is te r e d ...................1934 A-O 1 1 1 b ......... 120 b M ar’ 03
C B I F & N W l s t g u 58.1921 A-O 105 ......... 111 N o v ’ 05
M & S t L 1 s t g a g 7 s ..19 2 7 J-D

.....

102=8 102=8

A p r ’ 07
F e b ’ 07
A p r ’ 97
A p r ’ 06
M ar’ 07

101*8101*81 0 1 b
1 0 1 b ...
100** . . .

•No price Friday; latest price this week.




'9 2 b
1 0 8 l<

92*4

ci D ae Apr

101b
105 b

116
105

116
111

'8 5 * * ’ *9*6"
85
90
7 3 b 7 5 7*
73
74*4
6 3 b 65
62
66

M IS C E L L A N E O U S
S tr e e t R a ilw a y
B r o o k ly n R a p T r g 5 s ........ 1945
la t r e fu n d c o n v g 4 s ___ 2002
B k C ity l a t co n os.1 9 1 6 .1 9 4 1
B k Q C o & S co n g u g 5 s . 1941
B k ly n tin E l 1 s t g 4 -o s . 1950
S tam ped gu a r 4 -5 s ___ 1950
K in g s C o E l 1st g 4 s ___ 1949
S tam ped g u a r 4 s _____ 1949
N a ss a u E le c g u g 4 s ___ 1951
C on n R y & L 1 s t & r e f g 4 b s ’ 51
S tam ped gu a r 4 b a ......... 1951
D en C on T r C o 1st g 5 a ...1 9 3 3
D et U n ite d l a t c o n g 4 b s .l9 3 2
H a v a n a E le c c o n s o l g 5a. 1952
I » t « r - M e t c o ll 4 b s ............. 1966
I n t e r n a t T r a o c o ll t r 4 s ..1 9 4 9
L o u is R y C o l s t c o n g 5 s . . 1930
M a n ila E le c 1st * c o ll 5 s . 1953

91
102 b
10134
92 b

FOUR

.....

B O N D S — C o n tin u e d o n N e x t P a g e .

1 00
79*4
102b
100
100

107
92**
103b
101b
108

87
84*4
81

89
88b
86

91
74
71

93
82
73

S tre e t R a ilw a y
M e t S t R y g e n co l t r g 5 s .l9 9 7
B e f g 4a. f . ..........................2002
Bway<fe 7 th A v 1st e g 5s 1943
Col<fe 9th A T l s t g u g 68.1 9 9 3
L e x A v & P F 1s t g u g 5a 1993
T h ird A v e B B c o n g u 4s 200 0
T h ir d A v e B y 1st g 5 s . . 1937
M e t W S E l (C h ic) I a t g 4 a .l9 3 8
MU E l R y & L 3 0 -y r g 6 s . 1926
M in n S t R y 1st c o n g o s . .1 9 1 9
N O rl R y <fc L t g e n 4 b s ..1 9 3 5
S t J o s R y L t H & P l s t g 03 ’ 37
St P a u l C ity C ab c o n g 6 s . 1937
U n d e rg ro u n d o f L o n 5 s ...1 9 0 8
U n io n El (C h ic) l s t g 5 s ..19 4 5
U n ite d R R s San F r a f 4 s . 1927
U n ite d R y s S t L 1st g 4 a .1934
W C h ic St 4 0 -y r c o n g 5s. 1936

e Due May g Due J’ne

TiDue J’ly

k

F -A 104 Sale
A-O
80 Sale
J-D 107 110
M-S 109 112
M-S
J -J '8 8 b V.IIZ
J - J l l l b ..........
F-A .......... 98
F-A
J -J
J - J *111111 "9*0b
M-N
J -J
J -D *7 5 * ' ’ 7 9 ”
A-O
A-O " " " ' 7 6 '
J -J
*80*4 81*4
M-N

Due Aug

oDue Oct

1 0 3 b 104
80
80
110 A p r ’ 07
1 1 3 b F e b ’07
113*4 D e c ’ 06
86
86b
lllb
lllb
9 3 b J ’ l y ’ 06
109 J ’l y ’ 06
107 b F e b ’ 06
90 b S e p ’ 06
1 0 3 b O ct ’ 06
l l O b N o v ’ 06
77
77
100 Jan ’07
76
76
82
82
99 D e c '97
p Due Nov

102 b 1 0 8 \
80
85
108 113
1 1 3 b ll3 b
8 6 b 89
111 1 1 4 b

75
100
76
82

s Option

94
100
83 b
85
Sate

A p r. 27

BONDS

W esK 't
Rang* or
Last Sale

Pri-ce
F r id a y
A p r i l 26

M. T . STOCK E X C H A N G E
W k u k E n d in g A p r i l 26
Bhic B o c k I & V ue—(C o n )
C h oc Ok & G gen g 5s .<>1919 J -J
C on sol gold 5 s ............... 1952 M-N
K e o k <fc D f s i l 1st o s ___ 1923 A-O
Dhic Sc L & N O See 1U Cent
Bliic S t L & P itts See Penn C<
CJhic S t P M A O con 6 s . . .1930
C ons 6s red u ced to 3 4 s . 193o J-D
Ch S t P * M in n 1 s t g Os 1918 NIK
N o r W iscon sin 1st 68 ... 1930 J-J
S t P & S C ity 1st g 6 s ...1 8 1 6 A -0
Chicago T e r T ra n s g 4 s . ..1 9 4 7 J -J
C ou pon o t t .............................................
C h ic * W est I n d g e n g 0 s 9 l9 3 '. y - il
C on sol 50 y ea r 4 s ............. 195i- J . J
Blue & W -Mien .see P e re Mari,
Choc O & G u lf See C K I & P
t in H * D 2d gold 4 4 s . . . 1937 J - j
C in D * 1 1st g u g 5 s . .. 1 9 4 i M-N
C F in d & F t W 1st eu 4 s ir.’ -'; M-N
Cin 1 & W 1st tru g 4 s . 195:. J-J
I n d D e c & W 1st g 5 s . ..1 9 3 5 J-J
l s t g u a r g old 5 s ............. 1935 J -J
C I s t .Li * o s e e u o U & s t i
Cin S & C See U C C S t L
O learheld * M ali See B R * 1
C l«v C in C & s t L g en g 4s 1997 J -i.
Cairo D iv 1st g o ld 4 s ___ 1931 J-J
C in W & M D iv 1st g 4 s . 199i J - j
St L D iv 1st col tr g 4 s . .1990 il-N
R e g is te r e d ...................... 199i il-N
Bvr * Col D iv 1st g 4 s . .1 9 4 0 i l - s
W W Val D iv 1st g 4 s ...1 9 4 (i J - j
C I St L & C con so l O s.. 1920 M-N
1st gold 4 s ............. ......./C1930 y-F
R e g is t e r e d ............... /cl9 3 0 Q -F
Cin S i)b Cl con 1st g 5s. .1928 J . J
C C C & 1 c o u s o l7 s ..........1914 J-D
C on sol sin k fund 7 s ___ 1914 j . jd
G e n e r a lc o n s o ig o ld 6 s . 1934 J-J
R e g is te r e d ...................1934 J-J
Ind Bl & W 1st pret 4 s .1940 A -0
O Ind * W 1st pf 5 s ...((1 9 3 b q . j
P e o * East 1st con 4 s . ..1 9 4 0 A -0
In co m e 4 s ........................ 1990 Apr
C lev <fc M arietta See P en n R R
Clev & P itts See P en n Co
Col M idland 1st g 4 s ..........1947 J . j
Colorado * Sou 1st g 4 s . . .1920 f -a
B e iu n d & e x t 4 4 s ..........1935 M-N
Colum * o r e e u v S a So R y
C o l * H ock Val See H o ck Va.
Col & T o l See H o c k Y a l
Col C on n & T erm See N & W
Conn * Pas R iv s 1st g 4 s . 1943 A -0
ak * G t So See C 11 & S t P
alias * W a co See M K * 1
Del L ack & W es te rn 7 s . .. 1901 M-S
M o r r i s * E ssex I a t 7 s . . . l 9 l 4 M-N
1st c o n s o l gu ar 78........1915 J -D
R e g is te r e d ...................1915 J-D
1st ref g u g 3 Has........... 2001' J-D
N Y L a c k * W 1st 6 s . . .1921 J-J
C on s tru ction 5 s ........... 1923 F-A
T erm * im p ro v e 4 s ___ 1923 wi-N
W a rren 1st re f g u g 3 4 s . 2000 F-A
Oel * H u d 1st P a D iv 7 s . 1917 M -s
R e g is te r e d ...................... 1917 M-S
10-yr o o n v d eb 4 s........... 1910 J-D
A lb & S us c o n v 3 4 8 ........1940 A -0
R eus & S aratoga 1st 7 s . 1921 M-N
D el R iv R R B r id g e See P a R R
D e n v & R G r 1 st con g 4 s . 1930 J -J
C on sol gold 4*28............... 1930 J-J
Im p r o v e m e n t gold 5 s . ..1 9 2 8 J-D
Ru> G r J u n e 1st gu g 5 s . 1939 J-D
R io g r S o 1st gold 4 s . . . . 1940 J .J
G u a ra n teed .....................1940 J -J
R io G r W e s t 1st g 4 s ___ 1939 J - j
M g e and col tru st 4 s A . 1949 A -0
U tah Cen t 1 st g u g 4 s a l9 1 7 A -0
Des M oi * F t D s e c M * St. i.
Des M oi U n R y 1st g 5 s ..1917 M-N
D et & M a ck 1st lien g 4 s .1995 J-D
G old 4 s ................................. 1995 J-D
D etroit S ou th ern —
O hio S ou D iv 1st g 4 s ...1 9 4 1 M-S
Dnl * Iron R a n g e l s t 5 s . . 1937 A-O
R e g is te r e d .......................... 1937 A-O
2d Os..................................... 1910 J-J
Dul S hort L in e See N o r 1’ ac
Dul So S h ore & A tl g 5 s .. 1937 J -J
1 / ast o f M in n See S t P M & M
1 -last T e n V a <& Ga See So R v
E lgin J o l <fc E a st 1st g 58.1941 M-N
Elm C ort & N o See Leh & N Y
K n e 1st e x t gold 4 s............. 1947 M-N
2d e x t g olu 5 s .....................1919 M-S
8d e x t g old 4 4 s ................. 1923 M- S
4th e x t g old 5 s ...................1920 A-O
5th e x t gold 4 s .................. 192b J-D
1st c o n s o l g old 7 s ............. 1920 M-S
1st c o n s o l g fu n d 7a........1920 M-S
E rie 1st con g 4s p r i o r . . 1990 J -J
R egistered.".....................1990 J-J
xst co n s o l gen lien g 4 s . . 1996 J - J
R e g is te re d .......................1990 J -J
P en n c oll tr g 4 s ............. 1951 F-A
50-year c o n v 4 1 A ......... 1953 A -0
do
S erie s B ...1 9 5 3 A -0
B ull N Y * E rie 1 s t 7 s . .1 9 1 6 J-D
Bull & S W gold Os..........1908 J - J
Chic * E rie 1st g old 5 a ..1 9 8 2 M-N
C le v & M a lio n V al g 5 s . 193s J-J
Jett R R l s t g u g 5 s ___ a l9 0 9 A - 0
L o n g D ock con so l g 6 s . .19 3 5 A-O
C o a l * R R 1st cu r gu 6 s .l9 2 2 M-N
D ock & Im p 1st c u r 6 s ..1 9 1 3 J -J
N Y * G reen L g u g 5 s . 1940 M-N

R an ge
S in ce
J a n u a ry j

L ow
H igh
109 N o v ’ 08
1 0 7 4 ......... 111 M ay’ 06
105% N o v ’ 06

>..... 1024
1294 :
*90 .
1284
'1 2 5 V
116*4 ,

130 A p r ’ 07
98 D e c ’ 03
1 3 1 4 F e b ’ 07
1 2 9 4 M a r ’04
11 6 :js A p r ’ 07
9 7 34 A p r ’ o7
107 4
108
1 1 0 4 A p r ’ 07
ti7 4 A p r ’ 07

107 **<
.
*97
.

1104

83 Jan ’07
1 0 4 Hi F e b ’ 07
107 4 D e c "OS

98
98
96
1074
984
.........

99

1164
128
126
914
62

100.
99%
974
97
97
994
98
105
97 4
984
1134
1184

101
Jan ’ 07
A p r ’ 07
A p r ’07
J a n ’ 07
K e b ’ 05
Sep ’ 00
Jan ’04
M a r’ o7
A p r ’07
J ’ n e’ Oo
Jan ’ 07

132

F e b ’ o7

914
62 4

6 8 4 Sale
90
9 0 34
9 2 4 .........

19 1 *4 .........
1 1 9 4 .........
1 2 0 4 ........ .
119 .........
....... 98
1 1 9 4 .........

L

!<2
62 4

68
69
90 4
91
95 F e b ’ 07

10134 1 0 1 4
119 4 N ov ’ 06
121*8 A p r ’ 07
127 J ’ n e’ 05
1214
109
1023!
102
133
149
102*8
984
|133 4

123 4 .........

121

....... .

1 0 2 4 Sale
99 4 Sale
131a4 .........

95

94
102 4
103*
105 4
109
76
89
9 1 4 .......... 92
87*4
..............
8 6 4
97
.......... 93
110
92
89

90
89

Sep ’ 00
A p r ’ 07
A u g ’ 06
F e b ’ 03
F e b ’ 06
A ug’ 01
103 W
99 4
D e c ’ 00
94
Jan ’07
F e b ’ 07
M a r’ 05
D e c ’05
Jan ’ 05
92
F e b ’ 07
J a n ’ 02

112

S e p ’04
M a r’ 07
89

9 7 4 S*le
* 8 2 " *83*"
" " ” '8 5 *
8 0 4 82

74

............

1 1 9 4 122
......... 104
117 118
115 4 .........
9 9 4 .........
124
130
108** " I " !

110

L

J a n ’07

1 1 4 4 N o v ’ 06

115
'1 0 1 4 . .
1 0 6 4 ..
103 . .
106 4 ..
98 . .
126415

........

1 0 7 4 J a n ’ 06
109 A p r ’ 07
1 0 8 4 A u g ’ 06
110*2 O ct ’ 06
1 0 0 4 F e b ’ 07
1264
127
133 F e b ’06
96
97 .
99 4 O ct '0 6
814
82
85 4 F e b ’ 07
85 A p r '07
79*4
82
73
75
127 N o r ’ 05
1 0 4 4 F e b ’ 08
1164
1164
116*2 J an ’0 v>
1004
100»»
1130 M ar’07
118 S e p ’ 06
1 0 9 4 O ct ’ 05
11214 D e c ’ 06

u

i>IISC.’E L liA N E O L iS
J -D
M-N
A-O
.j

1 0 7 4 ......... 107
65
......... 70
134 4 Salo 132

J-J
F-A

9 8 4 ......... 100
100

j

M -S

J-D
F A
F-A

n

A-O
A-O
J.J

8 6 4 Sals

106
A p r ’ 07
" 4
63
66
1 3 4 4 140 116
A p r ’07
A p r ’ 07

105 F e b 07
rti w, o c t ’01
864
864
.1104
98

....

100
100
105

1

80

104

D o c ’06

......... 116 116 A p r ’ O
..................... | 93 4 M a r ’ 06

H id

L ow
108
1004
100 4
110 4

110

100 4 .

I ll

.

H igh
M a r’ 07
D e c ’ 06
F e b ’07
A p r ’ 07

L ow
108

105

117
104 4
......... 114
............ 1 0 6 4

I ll
84

112

............1 0 4 4

86

1054105 4

D e c ’ 06
A p r ’ 07
A p r ’05
F e b ’ 06

i

105 M ar’ 98
112
112
8 4 4 A p r ’ 07

1 0 2 4 100

M ar’ 07

04* 4 i . 0 6 4

108
84

112
87

100

103

9 5 4 Sale

954
9 5 4 148
94 4 A p r ’ Or

894

99

99

99

1014

A p r ’ 07

H ig h
108

1004103
1104 1104

104 4 O ct ’06
105 4 A p r ’ 07
116 A p r ’ OO

1014 .
105 4 .

99

R ange
Sinae
J a n u ary 1

984

8s*s 964
102 4

1 0 4 4 Sale
99
’ *9*8*4 1 0 0 4

1044 1044
103 N o v ’ Oo
9 S 4 N o v ’ OO
99
99

104 ......... 0 9 4
107% Sale 1 0 7 4
9 9 4 ......... 100
954
99 4
70
101
102
1004
100
1024
894
123
784
784
80

Sep ’ 06
1074
100
J ’i y '00
J ’ n e ’ OO
O ct ’ 04
A p r ’07
O ct ’ 01
M a r’07
M ay’06
Jan ’ 07
F e b ’ 07
M ay’ 99
A p r ’OO
F e b ’ 07

*3 9

M a r’ 07
O ct ’99
N o v ’ Oo
100^
D e c ’ 05
M ar’ 07
1184
M a r’ 04
M ay’ 04

99 4 .
1 1 8 !4 Salt

89
1014
100
1004
122
97
1184
1194
934

10341054
99

99

1074 1074
100 1 0 0 4

101

1024

100*4 10*3 4

102*4 102*4
894

91

784

784

884

89

1 0 0 4 102
97
97
11841184

100 4 M a r’ 07
17 M a r ’07

100 4 1 0 0 4
97
97

100 F e b ’ 07
.......... 99
114 ......... 114 A p r ’07
98
98
9 7 4 98
65
7 5 4 72 4 A p r ’ 07
..........109
111 F e b ’07
85 F e b ’ 07
......... 80

100 100
113 4 1 1 5 4
95
994
71
79
109 111
85
85

100 4 .
97

.

K

. 8 4 4 ! 86 O c t ’ 06
............I l l
111
.1 1 1
112 4 F e b ’ 06
107

H ig h

W eek’ s
R a n g e or
L a st Sate

H

1 0 4 4 N o v ’ 01
924
63

P r ic e
F r id a y
A p r i l 26

120“I

113 O ct.’Oi
1 0 4 4 Apr ’ 01

101 Sale
.......... 99

BONDS
N . Y. STOCK E X C H A N G E
W e b k E n din g A p r i l 26

E rie— ( Con )
H Y S u s & W 1st r e f 5 s .1937 J-J
2d g old 4 4 s .....................1937 F-A
G eneral gold 5 s ............. 1940 F-A
T erm in al 1st g old 5 s . ..1 9 4 3 M-N
R e g is § 5 ,0 0 0 e a c h ...19 4 3 M-N
M id R R o f N J 1st g 6s. 1910 A -0
128
W i l k * Ea l s t g u g 5 s . 1942 J-D
1 3 1 4 1*314 c C v* In d l s t c o n gu g 6 s ._ l9 2 6 J . J
E r ie & P itts See P en n Co
E v a n s & T H 1st c o n s 6 s . 1921 J-J
i'l6 -4
1st ge n e ra l g old 5 s ..........1942 A -0
9 7 4 97*4
M t V e r n o n 1st g o ld 6 s . . 1923 A-O
97 108
S u ll Co B ran ch 1st g 58.1 9 3 0 A -0
1 1 0 4 113
L 'a r g o & S o See Ch M * St P
9 7 4 98
L lin t & P e re M S je P e re M ar
Fla C & P e n in See Sea A i r L in e
F o rt S t U D Co 1st g 4 4 s . 1941 J -J
104 >2 105 l4 F t W * D en C 1st g 6 s ___ 1921 J -D
F t W * R io G r 1st g 4 s . ..1 9 2 8 J - J
S3
83
/ 1al H a r & S A See So P a c Co
' T al H * H o f 1 8 8 2 1 s t 5 8 .1913
1 0 4 4 105
G eo rgia & A la See Sea A L in e
Ga C a r * N o r See Sea A L in e
G e o rg ia P a cilic See So R y
(xila V G & N o r See So p iic Co
96 4 1 0 2
G o u v & O sw e g a t See N Y Ceni
9 9 4 9 9 4 G rand R a p * Ind .SeePenn R R
97
98 4 G ra y ’ s P t T erm See St L S W
97
9 8 3<i G t N o r —C B * Q co ll tr 4s 1921
97
97
R e g is te re d , h .................... 1921
G re e n b r ie r R y See C hes & O
G ull * s 1 1st re f & t g 5s &1952
an & S t J o See C B * Q
o u s a to m c See N Y N H & H
97 “9 99
98 4 9 9 4 H o ck V a l l s t c o n s o l g 4 4 s . l 9 9 9 J - J
R e g is te r e d .......................... 1999 J -J
C ol & H V 1st e x t g 4 s .. 1948 A-O
11841184
C ol & T o l 1st e x 4 s ........1955 F -A
1314132
H o u s t E & W T e x See So Pac
H o u s t & T e x C e n See So P a c Co
llinoi8 C en tral 1st g 4 s . .1951 J-J
R e g is t e r e d ...................... 1951 J-J
1st g o ld 3 4 s ...................... 1951 J -J
9 1 4 95
R e g is te r e d ...................... 1951 J -J
62
724
E x te n d e d 1st g 3 4 s ........1951 A -0
1st g o ld 3s s t e r lin g ..........1951 M-S
C oll T r u s t g o ld 4 s ............1952 A -0
67
744
R e g is te r e d ...................... 1952 A-O
894 944
L N O * T e x gold 4s ...1 9 5 3 M-N
95
96
Regfistereu...................... 1953 M-N
C airo B rid g e gold 4 s ___ 1950 J -D
L o m s v D iv d fe T e r m g 3 4 s .l9 5 8 J -J
M id d le D i v r e g 5 s ........... 1921 F-A
Om aha D iv 1st g 3 s ........1951 F -A
St L o u is D iv & te r m g 3 s .l9 5 1 J -J
R e g is te r e d ...................... 1951 J -J
G old 3 4 s ........................ 1951 J - J
10141044
R e g is te r e d ...................1951 J - J
S p rin g D iv 1st g 3 4 s . ..1 9 5 1 J-J
12*1*4 i ’2*l*4
W e ste rn L in e s 1st g 4 8 ..1 9 5 1 F -A
B e lle v * C ar 1st 6 s ........1923 J-D
C arb * S haw 1st g 4 s . ..1 9 3 2 M-S
C h ic S t L & N O g 5 s . . .19 5 1 J-D
109 1 1 1 4
R e g is te r e d ...................... 1951 J-D
G old 3 4 s .......................... 1951 J-D
R e g is te r e d ...................1951 J-D
M ein ph D iv 1st g 4 s . . . 1951 J -D
S t L S ou 1st g u g 4 s ___ 1931 M-S
9541094
In d B l & W e s t See C C C * S t L
95 110
I n d 111 & l a 1st g 4 s ..........1950 J - J
I n t * G rea t N o r 1st g 6 s ..1 9 1 9 M-N
2d g old 5 s ............................1909 M-S
9 3 4 974
3d gold 48............................ 1921 M-S
1024102 4
1 0 4 4 1 0 6 4 Io w a C en tral 1st gold 5 s ..1 9 3 8 J -D
G old 4 s ................................. 1951 M- S
J etferson R R •See E rie
al A & G R See L S & M S
an & M ic h See T o l * 0 0
9 1 4 95
S e e S tL & S F
874 874 K C F tS & M
K C & M R & B See S t L & S Fi
K an C & P a cific See M K & T
K an C ity S ou 1st g o ld 3 s .. 1950 A -0
R e g is te r e d .......................... 195o A -0
92
92 4 K e n tu c k y C en t See L & N
K e o k & D e s M o See C R I & P
K n o x v ille & O hio See So R y
ak e E rie & W 1st g 5 s . . 1937 J .J
111 1 1 1 4
2d g o ld 5s .....................1941 J - J
N o rth O h io 1 st g u g 5 s .. 1945 A-O
L S ho & M ic h S See N Y Cent
L e h V a l N Y 1 st gu g 4 4 s . 1940 J -J
1104H 2
R e g is te r e d .......................... 1940 J -J
L e h ig h V al (P a ) c o n s g 4 s . 2003 M-N
L eh V T e r R y 1st g u g 5s . 1941 A -O
R e g is te r e d .......................... 1941 A -O
L eh V C oal C o 1st g u g 5 s .1933 J-J
L e h * N Y 1st g u a r g 4 s . . l 9 4 5 M-S
R e g is te r e d .......................... 1945 M-S
E 1 C & N 1st p f 6s ____1914 A -0
G old gu a r 5 s ................... 1914 A -0
1004 1004
125 1 2 9 4 L e h * H ud R See C en t o f N J
L eh & W ilk e s b See C e n t o f N J
95
9 9 4 L e r o y * C aney V a l See M o P;
L o n g D o ck See E rie
L o n g Idl’ d—1st c o n g 5 s .M 9 3 1 Q-J
80
88
l s t c o n s o l g o ld 4 s ..........ft.1931
85 4 8 0 4
G e n e ra l g o ld 4 s ................. 1938
84
914
F e rry g o ld 4 4 s ................. 1922 M-S
76 1 0 3 4
G old 4 s ................................. 1932 J-D
73
87
U n ifie d g o ld 4 s .................1949 M-S
D e b e n tu re g o ld 5a............1934 J -D
G uar r e f g o ld 4 s ............... 1949 M-S
1154119
B k ly n * M o n t 1st g 6 s . .1-911 M-S
1st 5 s ................................. 1911 M-S
1 0 0 4 101
N X B & M B l s t c o n g 5 s 1935 A -O
130 130
N Y & R B 1st g 5 s ........1927 M-S
N o r S h B 1st c o n g g u 5 s o l9 3 2 Q -J
L o u is ia n a & A r k 1st g 5 s . 1927 M-S
Low

D

iititt a n d E l e c t r ic L ig h t
A tla n ta G L C o l s t g 5 s . .. 1947
BKlyn U G as l8 t co n g 5 s . 1945
Ruttalo G as 1st g 5 s ........... 1947
C on sol G as c o n v d eb 6 s . . . . 1909
Con sum G as See P G * C Co
D etroit C ity G as g 5 s ..........1923
D et lia s C o c o n 1st g 5 s . ..1 9 1 8
K d E U U B k n See K C o E L * R
i£d E 111 See N Y G * E L H & P
Kq G L N Y 1st c o n g 5 s . .1932
G a s * E lec B e r g C o c g 5 a .1949
G en E le c tr ic d eb ft 3 4 s . .1942
G r R ap G L C o 1st g o s . . . 1915
H u d son Co G as 1st g 5 s . .1949
K an C ity ( M o) G as 1 st g 5s 192V
K in g s C o El L * P g 5 a . . . ) ')37
P u rch a se m on ey 0 s . „ . . . . i 9 9 7
Ed El II B kn 1st co n g 4s 1939

983

New York Bond Kecord— Continued— Page 2

1 9 0 7 .1

116

70

73
O ct ’OH

714

674

73

113 M ar’ 07
1 0 6 4 1 0 7 4 1 0 6 4 A p r ’ 0,
110
1 0 9 4 ......... 110

1124114
10641074
110 1 1 0 4

107 1 0 7 4 1 0 6 4 A p r ’ 07
1 1 2 4 1 » o v ’ 05
......... 106
95 O ct ’ 00
116 O c t ’ 00
1124.
109 4 O ct ’ 99
..........1 1 2 4 1 1 2 4 A p r ’ 0<
95 4 .......... 9 6 4 J a n ’ 07

10641074

1024.
994 .

1 1 1 4 112*4 112
94
96
102
994
944
96
110
9 4 ■*9 *74 9 7 4

101

1004
105
,

102

904

964

1 1 3 4 J a n ’00
1 0 5 4 J a n ’ Oi

100
1104
105
109
1034

A p r ’ 07
A p r ’ 07
N o v ’ 05
O c t ’ 00
A p r ’0
J ’ n e’ 04
A p r’0
M a r’ 07
N o v ’OO
A p r ’ 07
N o v ’ OU
F e b ’ 07

112
95 4

1144
99

*9*4** '*9*54

96

994

ibo" i '024
1*0*5 **

i b ‘ 9 ’4

1 0 3 4 *1*03*4

B O N D S— Continued 011 N ext Pajre.
Ciias a n d E l e c t r i c L ig h t
L a c G as L o f S t L 1st g 5 s .e l9 1 9
R
e f and e x t 1st g 5 s ........1934
1074
73 4 M ilw a u k e e G as L 1st 4 s . . 1927
1 3 9 4 N Y G E L H & P g 5 s . . .1 9 4 8
P u rch a se m o n e y g 4 s . ..1 9 4 9
Ed E l 111 1st c o n v g 5 s . .1 9 1 0
100
1st co n s o l gold 5 s ..........1995
100
N Y& Q E 1 L & P I s t c o n g 5 s l9 3 0
N Y * R ic h G as 1st g 5S.1921
Pat & P a s o & E c o n g 5 s . 1949
105
P e o G as & C 1st c o n g 68.1943
R e fu n d in g g o ld 5 s ............1947
8 6 14
C h G - L * C k e l s t g u g 5 s 1937
C on G C o o f Ch 1st g u g 5s. ’ 36
M u F u e l Gas 1st gu g o s . 1947
S y ra cu s e L ig h tin g 1st g 5 s . ’ 51
T r e n to n G * E l 1st g 5 s .. 1949
W e s tch e s te r L ig h t ’ # g 5a. 1950

Q -F
A-O
M-N
J-D
F-A
M-S
J-J
F -A
M-N
M-S
A -0
M-S
J-J
J-D
M-N
J -D

M-S
J-D

103

......... 1 0 2 4 103
102 F e b ’ 07
9 1 4 J a n ’ 07
103 4
i03*‘ 103
8 1 4 8 3 4 84 A p r ’07
1 0 0 4 ......... 100 A p r '07
105 ......... 1 1 3 4 J ’ n e ’06
.......... 9 8 4 99 A p r ’ 07
103 N o v ’ 05
1 0 4 4 N o v ’ 05
114 118
119 F e b ’ 07
101
......... 1 0 3 4 101
1 0 5 4 A p r ’ 07
......... 105
1 0 0 .............. 1 0 0 4 1 0 0 4
103 4 D e c ’06
1 0 2 4 103
..........1 0 4 4
110 M ay’ 06
1 0 1 4 F e b ’ 07

......... 102

102 105 4
102 102 4
914 914
9941034
80
8*4
99 100
99** *9*9**
119
101
100

1194
1034
1054

1004108

.. 1014102

No price Friday; latest bidand asked this week, v DaeJan b Due Feb dD neA pr eDueMay /iD u eJ ’ly t Dae Aug o Due Oct g D a e Dee t O ttion Sate




New York Bond Record— Continued— Page 3

984
BOND*
N . Y . STOC K E X C H A N G E
W kk k E x d in s A p r i l 20

P rice
F rid a y
A p r i l 26

L o n is v & N a s h v g e n g 6 8.1930 J-D
G old o s ................................. 1937 M-N
U n ified gold 4 s .................1940 J - J
R e g is te r e d ...................... 1940 J - J
S in k fnnct gold 6 s ............. 1910 A-O
C oll tru st gold 5 s ............. 1931 M-N
5 -20-yr co l t r d eed g 4 8 .1 9 2 3 A-O
E H & N a sh 1st g 6 s . . ..1 9 1 9 J -D
L Gin & L e x g o l d 4 % s ...l 9 3 1 M-N
N O & M 1st s o ld 6 s . . ..1 9 3 0 J -J
N O & M 2d g old 6a........ 19S0 J -J
P e n sa co la D lv g old 6s . ..1 9 2 0 M-S
S t L D iv i s t g old 6 s ........1921 M-S
2d g o ld 3 s . : .....................1980 M -S
A tl K n o x <fc N o r l 8 t g o s l 9 4 6 J -D
H e n d e r B d g e l s t s f g 6 s . 1931 M S
K e n tu c k y C en t g old 4 s . .19 8 7 J - J
L & N & M & M 1 st g 4 % s 1945 M-S
Life N -S ou th M J o in t 4 s .1962 J - J
N F la & S 1st g n g 5 s . . .1937 F-A
N <9rC B d g e g e n gu g 4 % 8 1945 J -J
P e n s & A t l 1 st gn. g 6 s .. 1921 F-A
S & N A la c o n g u g 5 s .. 1936 F-A
L & J eff B d g e C o g u g 48 ..1 9 4 5 M-S
L N A & Oh S e e C I & L
Y f ahon C oal See L S & M S
lT la n h a t t a n R y c o n s o l 4 s . 1990 A-O
R e g is te r e d ...................1990 A-O
M etrop ol E l 1st g 6a___ 1908 J - J
M c K ’ p t & B V See N Y Cfent
M etrop olita n E l See M an R y
-M
- ex C
- en t- c o n s o l■ gold 4s
■j . .1911 J - J
ly
1st c o n s o l in com e g 3 s .a l9 3 9
2d c o n s o l in c o m e g 3 s ..a l 9 8 9
E quip <fc c o ll gok l o s ........1919
A le x I n te r n a t 1st c o n g 4 s . 1977 M-S
M ex N o rth 1st s o ld 6 s ___ 1 9 lo J-D
M ich C en t See N Y C en t
M id o f N J See E rie
M ilL S & W
See C h ic & N W
M il & N o rth See Ch M & St P
M in n <fc St L 1st g o ld 7 s . . 1927 J-D
I o w a E x 1 s t gold 7 s ........1909 J-D
P a cific E x 1st g old 6 s ...1 9 2 1 A-O
S ou th W e s t Ex: 1st g 78.1910 J-D
1st c o n s o l g old 5 s ............. 1934 Jl-N
1st and refu n d gold 4»..194t> M-S
D es M & F t D 1st g u 4 s ... ’ 35 J -J
M in u cfc S t L gu See B C R A N
M S t P & S S M c o n g 4 i n t g u ’ 38 J - J
M S S M * A 1 st g 4 in t g u 1926 J - J
M in n Un See S t P M A M
M o K an <fc T e x 1st g 4 s . ..1 9 9 0 J-D
F-A
2d gold 4 s .......................... 1990
1st e x t so ld 58...................1944 [M-N
1st & r e fu n d 4 s .................2004 M -S
G en s t 4 % s .................... 1936 J - J
S t L D iv 1st r e f g 4 s ___ 2001 A-O
D al & W a 1 st g u g 5 s . ..1 9 4 0 M-N
K an C & P a c 1st g 4 s . ..1 9 9 0 F-A
M o K & E 1st g u g 5 s . ..1 9 4 2 A O
M K & O k 1st g u 5 s ........1942 M-N
M K & T o f T 1 st g u g 5 s . 1942 M-S
S h er 9h & S o 1st g u k 5 s .1943 J -D
Tex<fc O kla 1st g u g o s . ..1 9 4 3 M-S
H o P a cific 1st c o n g 6s ... 1 9 2 0 M-N
T r u s t gold 5s s ta m p e d .a l9 1 7 M-S
R e g is t e r e d ...................a l9 1 7 M-S
1 st c o ll gold 5 s ...................1920 F-A
40-year so ld loan 4 s ........1945 M-S
3 d 7s e x t d a t 4 % ............... 193 8 M-N
C en t B r R y 1st g u g 4 s . 1919 F-A
C en B ra n ch U P I s t g 4 s .l 9 4 8 J-D
L e ro v & C V A L l s t g 5 s 1926 J - J
P a c R o f M o 1st e x g 4 8 .1938 F-A
2d e x te n d e d g old 5 s . ..1 9 3 8 J - J
St L I r M & S gen c o n g 5e l9 3 1 A-O
G en c o n stam p g td g 5 s 1931 A-O
U n ifie d & r e f gold 4 s .. 1929 J - J
R iv & G D iv 1st g 4 s .. 1933 M-N
V e r d i V I & W 1st g 5 s . 1926 M-S
M ob J & K C 1 st co n s g 5s. 1958 J -J
M ob <fc O hio n e w g o ld 6 s ..1927 J -D
1 st ex te n s io n g o ld 6 s ..A l9 2 7
G en era l gold 4 s ................. 1938
M on tg om D iv 1st g 5 s . .1947 F-A
S t L <& C airo c o ll g 4 s ..e l9 3 0
G u a ra n teed g 4 s ............1931
M & O c o ll 4s See Sou th ern
M oh aw k <fc M ai < S e e N Y C & H
M on on ga h ela R lv See B & O
M on t C en t See S t P M & M
M o rg a n ’ s La * T See S P Co
M orris <fc E sse x See D el L & W
ash Chat & S t L 1st 7 a .l9 1 8 J - J
1 st c o n s o l g old 5 s _____ 1928 A-O
J a s p e r B ra n ch 1 st g 6 s ..1 9 2 3 J -J
M c M M W <fc A l 1 s t 6 s . . 1917 J -J
T <fc P B ra n ch 1st 6 s . . ..1 9 1 7 J -J
N ash F lor & S h ef See L & N
N a t of M e x p r io r lie n 4 % s .l9 2 6 J -J
1st c o n so l 4 s ...................... 1951 A-O
N e w H & D See N Y N H <fc H
N J J u n e R R See N Y C en t
N e w <fe C in B d g e See L o u & N
N O <fc N E p r io r lie n g 6s p l9 1 5 A -O
N Y B k ln & M an B eh See L I
N Y C en t & H R i v g 3128.1997 J - J
R e g is t e r e d ............. ......... 1997 J - J
D e h e n g 4 s ........................1934 M-N
L a k e S h ore c o ll g 3 % s .. . 1998 F-A
R e g is t e r e d .......................1998 F-A
M ic h C en t c o ll g 3 % s ___ 1998 F-A
R e g is t e r e d ..,.................1998 F-A
B e e c h C reek I s t g u g 4 s . l 9 3 6 J - J
R e g is t e r e d .......................193 6! J-J
2 d g u g o l d 5 s ................. 1936 J - J
B e e c h C r E x t 1 st g 3 %s 61961 lA-Oi

r

u
f-J

N

R ange
S ince
Jan uary 1

W eek’ s
R an ge or
L a st Sale

B id
A s L ow
H ig h
115 ........ 115*4 M a r ’07
112 ....... 108 M a r’ 07
101 % 102
100% 100%
101% J ’l y ’ 06
107 D e c ’ 05
108*4 .
109 M a r’ 07
96
96
97
96
112 A p r ’ 07
112%
109 M ar'O^
121 M ar’ 07
122 *4 M a r’ C6
107*4 A u g ’ 06
1 1 4 * 4 ......... 120 J a n ’07
-------- 72
7 2 % F e b ’0
116 J ’ l y ’ 06
108*3 Jan ’06
96*11
96 *s
9 5 * 2........
108 JTy ’06
”8 7 " ‘ 88‘
87%
87*5
113*2 M ar’ 07

99^101

80
23

82
24
18*4

109
95
112

109
98
112

95*2 97%
80
92
113*2 113*2
112 112
109 >*109%

99*4
99*2
104 A p r ’ 05
103
103**

102*8 H ill

H ig h
115*4
117%
101

120 120
72*2 72*2

112 J a n ’ 07
109** 10 9 V
97 M ay’ 06

1 0 8 i» .

L ow
115
108
97

97*2 100%
100*4 i.02%

81
81
23 A p r ’ 07
17% A p r *07

81
20%
14S

86
2 7 3.
21

90% J ’l y ’ 01
105 M ay’ 00

125

87

110
92

95

130 M a r’ 07
105 A p r ’ 07
118 J a n ’ 07
113*4 M ar’ 05
107*3 A p r ’ 07
93% F e b ’ 07
97 A p r ’ 06

....
....
....

93
103

....

A p r ’07
N o v ’ 01

98
973s
97*4
99
84% Sale
83*9
84%
105
105
105 100
83>s 81 M a r’ 07
86
80S.
85
83 *s
85 A p r ’ 07
104*2 J a n ’ 07
96 4
95 *4
95% Sait
107%
108*2 A p r ’07
1C7 F e b ’ 07
106%
103 S 103 %
103
104 M a r’ 07
104
104 A p r ’ 07
103*2
117*2 119% 118% A p r ’ 07
x02
102 ----- 102
...... 107 *2 F e b ’ 06
102
101%
,01*2
89 V; A p r ’ 07
87%
97*2 98*2 98 A p r ’ 07
92
94% 93 Max ’ 07
92
92
92 Sale
110 Mar* 06
101
101 A p r ’ 0
U S 1* M a r’07
116
110
110 110*4 110
109 *2 M a r’ 07
81*2 85*2 85
85
91
92*2
» J % Sale
107*2 A p r ’06
...... 97*, 98 D e c ’ 06
122*4 A p r ’07
122%
122 D e c ’ 05
90 >2 A p r ’ 07
107s4 110
108*4 M a r’ 07
92 “2 A u g ’06
101 N o v ’ 04

....

130
105
118

130
105
118%

ios'i iio'4
92

94

97

99

9 96
31 80%
J 1C2
.... 81
55 83
... 82
... I04*t
2 95*2
... 108%
... 106%
21 102
... 104
... 104
... 118
1 100%
*i

...

_
_

1

98%
88
106
86
88 *«
87
104*2
95*2
111 %
107*4
100%
104
107
119%
105

ioi" ioi"
86
98
93
92

90
98
96%
92

...
ioi" ioiN
... 116 117*4
6 109*» 114
... 109% 109*2
5
14

80
86

88 *»
92*4

” • 121*4 124

..

...

89
94
108% 108*4

BONDS
N. Y . STOCK E X C H A N G E
W kkk E.ydlng A p r i l 26

116 117%
113*4 116

102*4 J a n ’ 07
"1 A p r ’ 07

102*4 102*4
8>
87**

32

66

93%
94
Vt*4
93 *2
98
98
84%
84*4
83*2 A p r ’©7
84*2 A p r ’ 07
84% J a n ’ 07
...........
8 3 *2
100% ....... L02 F e b ’ 07
L02 A lar‘04
94
Sale
93% S a il
98 Sale
84 4 Sale
33 * i ........
84 ........

58
18
1
14

_

90
94
92% 92%
94
99
83
88%
81% 87
83
87*4
8 4 * *4*4
102 102*4

D IIS C E LA t N K O U S
C o a l an d Iro n
O ol F & I C o ge n s f g o s . .1 9 4 3 F-A
90
C o n v e r tib le d eb g o s ___ 1 9 l l F -A
C ol F u el C o g e n g o ld 6 s . 191 9 Ml-N:
G r R i v C oal & G 1st g 6 s l9 1 9 A -O
C leart B it Coal l s t s f 4 s . . . 1940 J -J
C o l I n d u lstcfc c o ll 5s g u . . 19.34 F -A
63
C o n tin ’ta l C 1st s f g u 5s g . l » o 2 F -A
J e ff & C lear C & 1 1st g 5s . 1926 J -D
K a n <fc H C & C 1st s f g o s . l f l S l J - J
P le a s V a l C oal 1st g s f o s . 1928 J - J
B u n d a y C reek C o g 5 s ___ 1944 J -J
r e n n C oal g e n 5 s ...............1951 J - J
T en n D iv 1st g 6 s ........al917j-.•AO
B ir m D iv 1st co n s o l 6 a ..1 9 1 7 J -J 104
Cah C M 9 0 1st g u g 6s. 1922 J -D
D e B ar C * I C o g u g 6s. 1910 F -A 100*9
V a lroto C o a l& C o l s t g 5 s . 1949 M-S
91*2
V ic t o r F u e l 1st s f 5 s ......... 1953 J - J

N Y C e n t & H R— ( C on tinued
C a r t * A d 1st g u g 4 s . .. 1981 J -D
G o u v & O s w e l s t g u g S s 1942 J-D
M oh & M ai 1st g u g 4 s . .1991 M-S
N J J u n e R g u i s t 4 s . ..1 9 8 6 F-A
N Y & H arlem g 3*28. ..2 0 0 0 M-N
R e g is te r e d ...................... 2000 M-N
N Y * N o rth 1st g 5 s . ..1 9 2 7 A-O
N Y & P a 1st co n g u g 4 s 1993 A-O
N o r & M o n t 1st gn g 5 s .1916 A-O
f u s e C reek resr gu ar 68.1932 J -D
R W & O co n 1st e x t 5 s. h 1922 A -O
O sw e & R 2d g u g 5 s ...« 1 9 1 5 F -A
R W * O T R 1 st g u g o s .1 9 1 8 M-N
R u tland 1st co n g 4 * s s ..ia 4 1 J - J
OgWbLCliam l * t g u 4 s g l9 4 8 J -J
R n t-C anad 1 st g u g 4 s . 1949 J -J
St L a w & A d ir 1st g o s .1 9 9 6 J -J
2d gold 6 s........................ 1996 A-O
U tic a & B lk R iv g u g 4 s . 1922 J - J
L a k e S h ore g o ld 3*28___ 1997 J-D
R e g is te r e d ...................1997 J-D
D eb en tu re g 4 s ............. 1928 M-S
K a A c fe G R I s t g u c 5 s . l 9 3 8 J - J
M ahon C’ l R R 1st 5 s ..1 9 3 4 J - J
P itts & L E rie 2 d g 5 s .a l9 2 8 A-O
P itta M c K & Y 1st gu 6 * .1 9 3 2 J - J
2d g u a r 6 s ........................ 1934 J - J
M c K e e s & B V 1s t g 6s 1918 J -J
M ic h C en t 1 s t c o n s o l s . 1909 M -S
5 s .........................................1931 M -S
R e g is te r e d ...................1931
4 s .........................................1940
R e g is te r e d ...................1940 J - J
J L & S 1st g 3*23............1951 M-S
1st g 3 * 2 8 ............................1952 M-N
Bat C & S ta r 1 s t g n g 3 s . 1989 J -D
N Y C h i c * St L 1st g 4s 1937 A -O
R e g is te re d ................. ...1 9 3 7 A -O
W e s t Sh ore 1st 4s g u . . . 2361 J -J
R e g is te r e d ...................... 2361 J - J
N Y & G re e n w L a k e See E rie
N Y & H a r S e e W Y O & H ud
N Y L a ck & W See D L & W
N Y L E & W See E rie
N Y & L o n g B r See C en t o f N J
N e w Y o r k N e w H a v & H a rt—
H o u s a to n ic R c o n g 5 s ..1 9 3 7 M-N
N H & D e rb y c o n c y 5S.1918 M-N
N V & N o rth See N Y C & H
S Y O & f f r e f l a t g 4 s ..0 l 9 9 2 M-S
R e g is $5,0 0 0 o n ly ......... o l9 9 2 M-S
N Y & P u t See i f Y C & H
N Y & R B See L o n g Isla n d
N YH & W
See E rie
N Y T e x & M See So P a c Co
N o r & S ou th 1st g 5 s ..........1941 M-N
N o r f & W e s t ge n g 6 s ........1931 M-N
Im p r o v e m ’ t & e x t g 6 s ..1 9 3 4 F-A
N e w R iv e r 1st g 6 s ........1932 A-O
N <fe W R y 1 s t c o n g 4 s . 1996 A-O
R e g is t e r e d ...................... 1996 A-O
D iv ’l 1 st 1<fe g e n g 4 s .. . 1944 J - J
Pooa h C & C j o in t 4 s . .1 9 4 1 J -D
C C & T 1st g u g 5 s ..........1922 J - J
S cio V & N E 1st gu g 4s 1989 M-N
N o rth I llin o is See Chi & N W
N o rth O h io See L E r ie cfe W
J
N o r Pac— P rio r lie n g 4 s . .1997
-J
R e g is t e r e d ...................... 1997
G en eral lien g o ld 3 s ___ a2047 Q -F
R e g is t e r e d ...................a2047
S t P iu l-D u l D iv g 4 s . . ..1 9 9 6
D u l S h o rt L 1st g u 5 s .. 1916 M -S
C B 4 Q co ll tr 4a S w G t N o r
S t P & N P g e n g 6 s ___ 1923 F-A
-F
R e g is te r e d c e r tifio ’ s .. l 9 2 3
-A
St P a u l & D u l 1st 5 s ___ 1931
2d 5 s ..................................1917 A -O
1st c o n s o l g o ld 4 s ..........1968 J-D
W a s h C en t 1st g 4 s ..........1948
N o r P a c T e r C o 1st g 6 s . .1 9 3 3
N o r R y C al See So P a c
N o r W i* See C St P M & O
N o r & M o n t See N Y C en t
In d & W See C C O & S t L
h io R i v R R See Balt & O
O re & Cal See S o P a c Co
O re R R & N a v See U n P a c
O re S h o rt L in e See U n P a c
O sw e g o <fc R o m e See N Y O
O O F & S t P See C & N W
a c C oast C o 1st g 5 s ___ 1940 J -D
a c o f M is s o u r i See M o P a c
Panam a 1 s t s fu n d g 4 * a s ..1917 A -O
Pen n R R 1 s t real e s t g 4 s . 1923 M-N
C o a so l g o ld 5 s ................... 1919 M-S
C on sol g o ld 4 s ................... 1943 M-N
C o n v e r tib le g 3*28........... 1912 M N
C o n v e r tib le g 3 *28........... 1915 J -D
A lle e V a i g e n g u g 4 s . ..1 9 4 2 M-S
D R R R & B g e l s t g u 4 f l g . ’ 36 F-A
P h il* B a J A W 1st g 4 s .. 1943 M-N
Sod B ay <fc S o 1st g 5 s . . .19 2 4 J - J
S a n A L e w la l i t g 4 a ...1 9 3 6 J - J
IT N J R R * 0 » n gen 4 s . 1944 M -8
P en n C o—G u a r 1st g 4*28.1921 J -J
R e g is te r e d ...................... 1921 J - J
G u ar 3*38 c o ll tru s t r e g . 1937 M-S
G u ar 3 *28 c o ll tr s e r B ...1 9 4 1 F-A
T r Co e e r tif’ s g u g 3*28.1916 M-N
G u 3 >18 tr c t fs C ...............1942 J -D
G a 3 *2S t r c t fs D ............... 1944 J -D
G u ar 15-25 y . a r g 4 s ___ 1931 A-O
C l & M a r 1st g u g 4 *2S..1935 M-N
Cl & P g e n g u g 4 *as ser A . ’ 42 J -J
S e rie s B ............................1942 A -O
S e rie s C 3*28................... 1948 M-N
S e rie s D 3 * a s ........... . . . . 1 9 5 0 F-A

w

?:5

VS

92%

9* M a r’ 07
87 A p r ’ #7
107 % O ct ’ 04
102% A p r ’ 06
95 A p r ’ 02
Saio
03
f4
107% D e c ’ 04
107 May*97
100
105*2 D e c ’ 06
105 O ct ’00
78 F e b ’ 07
93
93
94
104% 100*2 J a n ’ 07
106
105
10a
102 D e c ’ 03
100 F e b ’07
92
92 A p r >07
93*2 F e b ’ 07

...

9*
87

lx x x iv .

W eek's
R a n ge or
L a st S a le

B id
A sk Low
......... 103%

R an g*
Since
J a n u a ry 1

H ig h

Low

9 7 * 2 M a r’0'
105 O ct '02
101*2 J ’ l y ’ 06

97%

110*2 Sale
97 ........

110*2 110*,
101*4 D e c ’ 06

110*8 .

137 N o v ’97
110*2 U 0*«
113% Jan ’ 02

97*2 97**

1104s 111

110*4 i l 4 *

106 *8 O ct ’05
95 F e b ’ 07
95 F e b ’ 07
122 Jan ’06
98 ......... 1 0 3 7* A u g ’ 06
94*4 Salt
93*4
94*4
92 * 2 ......... 92% M a r ’07
95 *2 Sale
94*4
97*4
103

95
95

72

91%
92%
92

94%
94
99%

125H M a r’Oti
107*2 N o v ’06
139 J a n ’ 03

.

.

120

H igh

118**.

.

110

101*2.

.

112
99

9 3 * 2 ........

i’0 0 %ioT
104 Sale
101% 103

104 D e o ’ 06
118 % J ’l y ’06
119 J ’n e’ 06
100% Jan ’ 07
1 0 6 *2 N o v ’ 00
94 *2 D ec ’ 06
94*2 J a n ’ 07

100*4 100%

100*2 A p r ’ 07
102*4 M ar’ 07
103% 104
101% 101*4

100 -2 103*a
102*4 102%
101% 105
100*2 103%

124

94*2 94*2

F e b ’ 06

115*2.
98*2

128 *8.........
128 ........
1 9ft
98 >4 s a le
1......... 96
......... 9 5 s4
88% Sale
97*a 99*

98 %
98%
101 *a J ’n e ’Ob

104
130
130%
127*4
97*4
100
95
88
109*2
98*a

96

Sep ’06
F e b ’0
F e b ’ 06
O ct ’ 06
98*,
F e b ’ 06
M a r’ 07
*S 34
F e b ’ 05
98*-,

101%

129*2 130
97%

99%
9 8%
91*2

98

102**. S a it 101*2 102*4
9'J ........
99 A p r ’ 07
72
72*a 71%
72
70 A p r ’ 07
- ........ 70
95% J a n ’ 07
..............
96 *4
99 ..........

99**

100
98*2
6 9 j4
70
95%

102%
102
74%
71
95%

120

120

M a r’ 07
J ’ l y ’ 99
M a r’06
F e b ’ 07
O ct ’ 06
M ay’06
M a r’ 07

108j4 108%

90
H i

120
132
113
108%
98*2
93
113%

106 %

107

M a r’ 07

107

102-2
102 103

103 J ’l y ’ 06
103 A p r ’ 07
111*aSep ’ 04
106 A u a ’ OJ
95*4
95 7f
92
92%
104% O ct ’ 05

1 0 9 * * ........

....... . 110

113% 113*4

O

......

101
96
97
92% Sale
99
97*2

109

i b l " i03*
90% 100%
88*2 96

107 >2 O ct ’ 0b
102 J a n ’03
110*2 S ep *’ 04
106*2 A p r ’ 07
106% F e b ’ 07
90 *2 J ’n e ’ 06
90 O ct ’ 06
■94%
95% A p r *07
87
89 O ct ’ 06
91
90*2 M ar’ 06
97 *2 J a n ’ 07
......... 110 J a n ’ 05
i0 8 %
103% A u g ’03
105*2
98
98% D e o ’05
96 J a n ’04
105 *2

„

105 107
105% 105%
96

96

97*i

97*4

BONJ>S— Continued on N ext P a ge
100%
*7

05 ' 5 9 " "7**4

T e le g ra p h an d Telep hon e
A m T e le p <fc T e l c o ll tr 4s 1929
C om m C a ble Co 1st g 4 s . .2 3 9 7
M e t T & T 1 s t s f g 5 s ........191 8
M ic h . S tate T e le p . l o t 5 s . 1924
N Y & N J T e l g e n g 5 s ..1 9 2 0
W est U n io n co l tr c u r 5 s . 1938
F d an d real est g 4*< js...19o0
M n t U n T e l s fu n d 6 s . . .1 9 1 1
N o rth w T e l g u f 4*28 g . . 1934
M a n u f a c t u r in g & I n d u s tr ia l

J -J
Q-J
M-N
F-A
M-N
J -J
M-N
M-N
J -J

78
78*2
93
95
A m C o t O il e x t 4 % s ............1915 Q -F
100 *2 100 *2 A m H id e & L 1st s f g 6 s . . 1919 M- S
5 104% 100*2 A m e r I c e S e c u r d eb g 6 s .. 1925 A-O
A m S p irits M fg 1st g 6 s .. 1915 M-S
100 100
A m T h rea d 1st c o l tr 4 s . ..1 9 1 9 J -J
90
98
A m T o b a c c o 4 0 -y r g 6 s ___ 1944 A -O
... 03% 9S*2 4 s................................... ... .. 1 9 6 1 F -A

*N o prioe Friday; latest bid and asked. «D u eJ a n b Due Feb e Due Mar d Due Apr h Due J’ly t Due Aug




P r ic e
tr id a y
A p ril 26

P

116*2 116*2
116% 117
1 1 1 *9 .......... 113% M a r’ 07
1 1 5 % ........ 119*4 F e b ’ 06
117*4 M a r ’05
113 J ’ly ’ 04

[V o l.

86*8

101% Sale
99 Sale
105

90 Jan ’ 07
9Ri« J 'n e ’ 06
104 F e b ’ 07
97 F e b ’ 07
105*8 J ’ Iy*03
101
101*2
99
98*4
104 A p r ’ 07
103 J ’l y ’ 04

90

90

104
98

104
98

....
__ _... ......
5 100% 103
7 95 100%
104 104

....

91 A p r ’ 07
60
93
83
19 Srt
8 /* s
91%
S4 A p r ’07
1 »4
ft!)
98
98
2 98
102
92
92
1 90
93
105% 106*4 555 1 0 4 % n a %
73
74 210 71*2 t » %
0 Due Oct p Due Nov q Due Des f Optlam $ *!»
90
87%
83
98
92
106
74

91
Sale
84
Sale
Sale
Sale
Sale

A p r .

27

1 9 0 7 .]

BONOS
K . Y . STOCK K X CH A N G B
W e e k e n d in o A p r i l 26

U

■sja,

Jfeim C o—< C on tin u ed )
E r ie & P it t s g u g S H js B .1 9 4 0 J - J
, S eries C ............................ 1940 J - J
G r R * I e x 1st gu g 4 *28 1 941 J -J
P it t s F t W & C 1st 7 s . . .1 9 1 2 J - J
2 d 7 s ................................... 1912 J - J
3d 7 s ............................... A1912 A -0
P itts Y * A sli 1st con 6 s .l9 2 M-N
. P C C * S t L g u 4 % s A .. . 1 9 4 0 A -O
S eries B g u a r .................1942 A -0
S eries O g u a r .................1942 M-N
S eries D 4 s g u a r ............1945 M-N
S eries E 3 *2 gu ar g ___ 1949 F-A
S eries F 4s g u a r ..........1953 J - D
C S t L & P 1st co n g 5 s .1932 A -O
P e n sa co la * A t l Sec L * N asli
P e o & E a st Atee O C O A S t L
P e o * P e k U n 1st g 6s ___ 1921
2d r o ld 4 Has...................... *1921 £ 5
P ere'M a rq — O i l * W M 8 s 1031 J-D
F l i n t * P M g 6s . . . ........1920
1 st oon sol gt>ld 6 s ..........19S9 I d : ?
P t H u r o n D tv 1st g 5 s .1939 A -0
S a g T u s * H. ls t^ r u g 4 s. 1931 F-A
P h i l B & W See I* emu B R
P liila <fc K e a t in g c o n s 7 s . 1911 J.D
P itt# Oin & S t Li S ee P e o n Co
P itts Olet'tt & T o l See B t O
P itts F t W * Oh See P ea ii Oo
P itts M c K e e s * Y S e e X Y Ceu
P itts a il * L E 1st s 6 s . . .1 9 4 0 A-O
1 st oon sol gold -6 s ............. 1943 J -J
P itts * W e s t See B * O
eadme- C o gen g 4 s ........1997 J -J
R e g iste r e d ...................... 1997 J -J
J e r s e y C en t ooli g 4a. ..1 9 5 1 A 0
R en ssela er * Sar Sue D * H
B ioli * Dan See Sou th R y
R ich * M eek See S ou th ern
B io G r W ©st See D en * R id Gr
R ocli & P itts See B B * P
R om e W a t * O g Bee N V Cent
R u tla n d See is 1' C en t
C A g T u a & I I See P e r e M arq
O t J o & G r lal 1st it 4 s . ..1 9 4 7
S t L & (J«4ro See M o b & Ohio
S t L * Ipod M o u irt See M P
8 t t K U A N B e e W ab«*li
S t L M Ur See T R R A o f S t L
8 t L o u is * S an F r a n o » c o —G en era l g old 6s ................. 1931 J - J
G en era l g old 6 s .................1931 J - j
8 t L * S F B K c o n s g 4 b .. ’ 96 J -J
S o u tb w D iv 1st g 6 s . .1947 A -O
R e fu n d in g g 4 s .............1951 J -J
5-year g old n ote s 4*2.-1908 J -D
S t L M & So E a st g u 4 HiglP09 J-D
K C F t S & M cou g tf*..1928 M-N
K C F t f S * M R y r e f g 4s 1936 A -0
K C < t M l t & J U « t s u 6» . 1929 A -O
O z’ r l t * C h C l s t f f n 5 s g.1 9 1 3 A -O
St L ou ts So See Illin o is C ent
8 t L S W 1 st g 4s bd o tfs .1 9 8 9 M-N
2d g 4s in o bond 0C fB ...p l9 8 9 J - J
C on sol g old 4 s ...................1932 J -D
G ra y ’ s F t T e r 1st g n g 5s 1947 J -D
8 t P a u l & D a l Bee N o r P a cific
St P a u l M * M an 2d O s...19 0 9 A -O
1st oon sol g old 6 s ............. 1983 J - J
R e g is te r e d ...................... 19S3 J - J
R ed u ced to gold 4 *28..1 9 3 3 J - J
R e g is t e r e d ..................1933 J - J
D ak ota e x t g old 6s ..........1910f M-N
M on t e x t 1 s t g o ld 4 s___ 1037 J-D
R e g is te r e d .......................1937 J-D
E M in n 1st d i r 1st g 6 s . . 1908 A -0
N o r D1t 1s t gold 4a ___ 1946 A -0
M in n U n ion 1st g 6s ___ 1922 J -J
M on t C 1st KU g 6s ..........1937 J - J
R e g is t e r e d ......................19S7 J -J
1st g u a r g o ld 5 s ............1937 J -J
W ill & S F 1st c o ld 6 s ..l9 3 fv J-D
8 t P & N o r P a o Bee N o r Pao
S t P * S ’ x C it y < S » e C S t P M * 0
S A * A P a ss 1st g u g 4 s . . . 1943 J - J
S F e P res * P h 1 s t g 6 s . .. l # 4 2 M-S
8 F * N P 1st sin k f g 68.1919 J -J
8 a r F & W e s t See A t l C oast L
S cioto V a i * N E See N o r * W
S eaboard A i r L in e g 4s . ..1 9 5 0 A -0
C oll tr r e fu n d g 6s ..........1911 M-N
A tl-B irm 3 0 - y r ls t g 4 s .e l9 3 3 M-S
Car C en t 1st c on g 4 « . .. 1 9 4 9 j - j
F l a C e n * P en 1 s t g 6 s . 1918 J - J
1st lan d g r e x t g 5s ...1 9 3 0 J -J
C on s ol g old 5 « ............... 1943 J -J
G a & A la R y 1 st c o n 6 s 01945 J - J
G a Car * N o l s t g u g S s 1929 J - J
d eab * R oa 1st 5 s ............1926 J - J
S lier S h r * So Bee M K & T
Svl S p O ca & G Bee A t l C oast L
S o C ar * O a S*e S ou th ern
8 outti e rn P a cific Ce—
Wold 4 s (C en t P a c c o ll) , &1 949 J -D
R e g is t e r e d ...................fcl949 J -D
C en t P a c 1st r e f g u g 4s 1949 F-A
R e g is t e r e d ...................... 1949 F-A
M o r t gu a r gold 8H is..fcl929 J -D
T h ro u g h S t L 1st g u 4s ’ 54 A -0
G al H ar & S A 1st g 6s . . 1910 F-A
M e x * P a c 1st g 8 s ___ 1981 IW-N
G ila V O * N I s t g u g 5 s . l 9 2 4 M-N
H o u s E * W T 1st g 68.1933 M-N
1s t gu a r 6s r e d ........... 1933 M-N
H & T C l e t g 6 s i n t g u ., 1 9 3 7 J - J
C on sol s 6e in t g u a r ...1 9 1 2 A -O
G en gold 4 s Int g u a r . . 1921 A-O
W a c o * M W d i v l H t g 6 s ’ 3U (M-N
A * N W 1 st g u g 6 s ----- 1941 J -J

R

e w

P r ic e
F Y idav
A p r i l 26
B id
92

Y o r k

B o n d

W eeK s
R a n ge or
L a st Sale

R e c o r d

L ow
92

9s
91

10034
91

1 1 4 la .

i l ’e " M ar’ 07

115

116*2

106

123*8 Jan ’ 05
100’ 4 D e c ’ 0
109 A p r ’02
115 J a n ’ 07
100s4 A p r ’ 07
106*2 Sep ’06

low

10738losy

1 1 0 ‘s .

101

.

H ig h
92

.09*4 109 H/

115 115
10034 1 0 0 r,4

115*2 M ar’ 06

120
98

M a r’ 06
J ’ l y ’ 97

97^8 Sale

94*4 9834

93»*

9ii34 96 Hz

97
9 7 l4 1’98
lOOHi T’ n e ’06
94
94 >2 94

9 0 's

91

91

91

123 . . .
1087* 109
’ 86*5

123*2 1 2 4 k
108*2 A p r ’ 07
91 F e b ’ 07
102*4 A u g ’ 05
"81*4 Sale* 80*4
81*4
98 N o v ’06
" " " "9 7 '4
119 J a n ’ 07
’ S O " " 8 0 '\ 80**
80*2

123*2 123*2
107 110 Ht
91
93

.....

.....

97HJ

94 s4 Sale
8 0 .........
76
77

77 >4 "82*2
119 119
78*4 82*4

97 Hi F e h ’07

97*2 9 7 Hi

93
9 4 3i
80 A p r ’ 07
76
76*4
1 0 1H A p r ’07

92
95
79Hi 83
73
79
IOIH j IOIH s

105*8 J a n ’ 07
1 0 2 ^ 105
131
1 2 9 78 .......... 131
134 D e c ’ 06
10 7'>9 i V i " 108 M a r’ 07
■106 ......... 116*« A p r ’ 01
107 ......... 107*4 M ar’ 07
100
99
99®? 100
100*4 O ct ’ OP
100*2 D e c ’ 06
98
117
127

.
.

112
U ‘J

109

105*2 105!%
131 131
io fT io e s
VoSh i o 7 * i
97*2 100*2

124 M » y ’ 05
130 A p r ’ 07
136*« M »y ’06
112 A p r ’07
115*2 D e c ’06

8 5 ^ Sals
80*4
88
......... 105 »s IO6 H1 F e b ’ 07
110 O ct ’ 05
74 Salt.
9934 Sale

92 Hz

16

130

131*2

112

112

81
87
106 Hi 108 34

73*2 82*4
97 100*3
88
89

73Hi
74
9 8 B» 100
88 J a n ’ 07
» 6*2 M a r’ 06
107*4 A u g ’ 06
109*a
106
110
106

M ar’ 05
M ar’ 07
J a n ’05
M a r’07

106

107*8

i o e " i b ia "

88*4
8 8 34
8 8 34 Sale
*8
90 D e c ’ 06
96 Hi Sale
96*2
97
99 J a n ’07
84
8 6 % 84
84
94
9 8 *e F e b ’ 07
103
103 M a r’07
109 N o v ’ 06
106*4 J ’l y ’ 06
105
107*4 F e b ’05
104 107 H. 104 A u g ’ 06
111 \ A p r ’ 07
lllH i
111H J a n ’07
H>
91
93
94
94
116 D e c ’06
109*2 F e b ’ 06

80

.....

95
99

90
1 0 0 ‘>8
99

32*2 86

98 *s 98 **
103 106*2

10934
110

109 *4 111 *2
111 112
92 H» 94 7b

108

M IS C E L L A N E O U S
!H n .n u tn ctn rin « iV ln<hiwtrial
B eth S teel 1st e x t s f 5 s . . 1956 J J
96 A u g ’ 06
C en t L ea th er ao-year g 6 s .l» 2 5 A-O
96 Sale
95
96 *»
C o n s o lT o b x c o o 50-yr g 48.19S1 r .A
73 A p r ’ 07
72*2
D istil S e c C or o o n v 1st g 6 s . ’ 27 A O
84 % Sale
83*2
34*,
i n t P a p er C o 1 st oon % 6s . 1918 F -A 104*4 sale 104*# 1 o 4 s4
C ob soI c o a v 8 f g 6« ........1 93 5’ J - J 1 89
9<>
83H) A p r ’07
I n t St P u m p 10-yr e o n v . 6a ’ 13 J -J
100
K n ic k e r lo e ^ C h ic) 1st y 5 s . ’2S A-O
97 *2 O ct ’ 05
L a ck a w S teel 1st g 6s ___ 1#3* A - 0
99
9*
99
N at S tarch M fg C o lit fc c
1W 6 M-N
81
87*4 82 J a n '07
N a t Staroll Oo s t deO
J -J «
70
t o A p r ’ 07
A
-O
R e p u l) 1 * 8 1 « t A ooltv t e . 19S4
95 V 96 A p r ’ 07
U b Lea Ml C o *1 d eb g « * * ..l# 1 3 94 .1 1 W ‘«
104 M a r’ 07
U S Ktialty * I a o n r dirt) g& s ’ 2d J - J • 80
*7*., 86 *«
87
U S Steel Owrp— ( co u p .(ilftflS M-N
99 *2 Sale
98 7»
9 9 34
S f 10-00 y r 5 s. ( r * x
M.N
97 *2 Sale
96Hi
97 Hi
V a -C ar C h om col i t 6 s a . .10 1 2 A -O
96
97 A p i ’ 07
W e s U n * h # u so K & M s f 4 s ’ 31 J - J
94 Sale
93%
94

100

* N o p r ice tfrvday; la te st bid and asked this w »e k .




100

P a g e

S ou th ern P a c Co— ( C on tin u ed )
M o rg a n ’ s La & T 1st 7s. 1918
1st g o ld 6s . , ...................1920
N o o f Cal gu a r g 5 s ..........1938
Ore & Cal 1st g u ar g 5s. 1927
So P o i A r g u 1 s t g 6 s . . . c l 909
1st gu a r k 6 s ............... c l9 1 0
S o P a cific o f C al—
1 s t g 6 s s e r ie s E & F ...1 9 1 2
1st g o ld 6s ...................... 1912
1st co n gu ar g 5 s ..........1937
S P a c o f N M e x 1st g 6s . . 1911
S o P a o C oast 1st cu 4s g .1 9 3 7
T e x & N O S a b D iv ls t gOs.1912
C on gold 5 s .....................1943
t o P a c R R 1st r e f 4 s ..........1955
S o u th e rn —1st co n g 5 s ___ 1994
R e g is te r e d ...................... 1994
M o b * O hio c o ll tr g 4S ..1 9 3 S
M em D iv 1st g 4 *2-58...1 9 9 6
.St L o u is d iv 1st g 4 s ___ 1951
A la Oen R 1st g 6s ..........1918
A t l & D a n v 1 s t g 4 s ........1948
2d 4 s ................................. 1948
A t l * Y a d 1st g g u a r 4s . 1949
Col * G re e n v 1st Os........1916
K T V a * G a D iv g 5 s . .1 9 3 0
C on 1st gold 5 s ............. 1956
E T e n re o r lieu g o s ........1938
G a M id lan d 1st 3 s........... 194 6
O a P a c R y 1st g 6s ..........1922
K n o x * O hio 1st g 6 s . ..1 9 2 5
i l o i j * B ir p r io r I ie n g 5 s l9 4 5
M o rtg a g e g o ld 4 s ......... 1945
R ic h & D an c o n g 6s ___ 1915
D e b 5s s ta m p e d............. 1927
R ic h & M e e k 1st g 4 s . ..1 9 4 8
So Car & G a 1st g 5 s ___ 1919
V ir g in ia M id ser C 6 s ...1 9 1 6
S eries D 4 -5 s ................. 1921
S ories E 5 s ...................... 1926
G en eral 5 s ...................... 1936
G u ar stam p ed ............1936
W O & W 1st c y g u 4 s .. 1924
W e s t N C 1 s t co n g 6 s . .1914
S & N A la See L & N
S p e k F a lls & N o r 1 st g 6 s .1939
' P e r A o f S t L 1 st g 4 H2S.. 1939
JL 1st co n g o ld 5 s ___ 1894-1944
G e n re fu n d s t g 4 S......... 1953
S t L M B g e T e r g u g 5s. 1930
T e x & N O See S o P a c Co
T e x * P a o 1st g o ld 5 s ........2000
2d g old in c 5 s ...................<72000
La D iv B L 1st g 5 s ........1931
W M m W & N W 1st g ii 5s ’ 30
T o l * O C 1st g 5 s . . . . . . . . . 1 9 3 5
W e s te rn D iv 1st g o s . ..1 9 3 5
G e n e ra l g o ld 5 s .................1935
K au & M 1st g u g 4 s ___ 1990
T o l P & W 1st gold 4 s . . -.1 9 1 7
T o l S t L * W p r lie n g 3 *28.1925
5 0-y ear g o ld 4 s .................1950
T o r H a m * B u f f l s t g 4S.A 1946
l s t e r * D e l l s t c o n g 5 s 1928
1 st re fu n d g 4 s ............1952
U n P a o R R * I g r g 4s ...1 9 4 7
R e g is te r e d .......................1947
O re R y * N a v c o n g 4 s .1946
O re S h o rt L in e 1 st g 6s . . 1922
1st c o n s o l g 5 s ............... 1946
G u ar re fu n d 4 s ............. 19 '
R e g is t e r e d ...................1929
U tali * N o r 1st 7 s ..........1908
G o ld 5 s ..............................1926
U n i N J R R * C C o See P a R R
U tah C en tral See R io G r W e s
U tah & N o r t h See U n P a cific
U t i c a * B la ck R See N Y Cent
andalia c o n s o l g 4 s ___ 1955
e ra C ru z * P l s t g u 4 *281934
V e r V a l In d & W See M o P
V ir g in ia M id See S o u th R y
V a & S o u th w ’ t 1st g u 5 8 .2 0 0 3
aba sh 1st g o ld 5 s ........1939
2d g o ld 5 s ...................1939
D e b e n tu r e se rie s A ........1939
C ertificates o f d ep osit
S e rie s B ............................ 1939
C ertificates o f d e p o s it___
1st lie n e q u ip s f d g 6 s . . l 9 2 1
1 s t lie n 50 y r g te rm 4 s . 195 4
I n te r im c t fs 50-yr 4 s ...............
D e t * Oh E x t 1st g 5 s ..1941
D e s M o in D iv 1 s t g 4 s . .19 3 9
Om D iv 1st g 3 Has............1941
T o l & Ch D iv 1st g 4 s . ..1 9 4 1
S t C has B rid ge 1 s t g 68.1908
W a b P itts T e r m 1st g 4 s . 1954
2 d g o ld 4 s ............................19’5 4
W a r r e n See D e l L a e * W est
W ash C e n t See N o r P a c
W a sh O & W See S ou th ern
W e s t M a ry la n d 1st g 4 s . ..1 9 5 2
G en & c o n v g 4 s ............. 1952
W V a C e n t & P 1st g 6s 1911
W e s t N Y * P a 1st g 5 s ..1937
G e n g o ld 3 -4 s.....................1943
In c o m e 5 s ........................ <£1943
W e s t N o Car See S o u th R y
W h e e l’ g * L E 1st g 5 s . ..1 9 2 6
W h e e l D iv 1st g o ld 5 s .. 1928
E x te n & Im p g o ld 5 s . . . 1930
R R 1st c o n s o l 4 s ...............1949
20-year eq u ip s f 5s ...1 9 2 2
W ilk e s & E a s t See E r ie
W il & S io u x F See S t P M & M
W is C e n t 50-yr 1 s t g e n 4 s . 194

U

985

4

BONOS
N. Y . STOCK E X C H A N G E
W e e k E ndin g A p r i l 26

R an ge
Since
J a n u a ry 1

Lota
H lqh
92 A p r ’ 07
9S34 A p r ’ 04
108 Sep ’ 06
127*8 O ct ’ 02
119 J ’ n e’ 06
119 A p r ’ 04
116 M ay’ 05
1 0 * H< O ct ’ 06
109*4 F e b ’ 07
112 *-2 J ’ ue’ 05
10034 M a r’ 07
91 F e b ’07

C o n c lu d e d —

P r ic e
F r id a y
A p r i l 26
A -o
J -J
A -C

Bid
117
I ll

Low

.
.

J-J
J-J
J-J

'W > i\
101 .
1 0 1 *2 .

A -0
A-O

107*2.

M-N
J-J
J-J
M-S
J-J
J-J
J-J
J-J
M-S
J-J
J-J
J-J
J-J
J-J

M-S
A-O

J-J
J-J
J-J
J-J
J-J

93*2 Sale
110*2 Sale

112

107 Apr’07
114*2 Dec’04
119 Jan’06
104 Mar’07

107

107

107 *2 Feb’07
104 Sep ’06
93*2
94
1 10*2

114

1 1 0 7ti

Feb’07

........ 113 3g Mar’07

1123s.

117*2 Apr’07

110*2 Mar’07
68 Jan ’07

117*8 117*1117 Apr’Oi
11 a 38 Apr ’06
96 Oct ’06
112 *2

M-N
M-SIW-S
M-S
M-N
M-N
F-A

IO6 H1 .
109 .
103 .

J-J

115 .
105 „
112*8 .

lie s .

11234 Jan ’Ol
98 Feb’05
106 Mar’07
112 Oct ’06
108*2 Dec ’0(>
113 Dec’Of
110 Apr’07
109 *2 Apr’07
96H Jan ’07
109*4 109*4

.

.

109*2 .
109HJ .

J-J

117
108

J’ly’00
Jail ’07

93 HiJ a n ’07
111 Dec’06

J-D 115 116
Alar .......... 90

114 A p r ’ 07
92 N o v ’06
110 M a r’06
106*2 N o v ’ 04
111 A p r ’ 07
111 M uy’ 04
102*2 M ar’ 07
91
91
A p r ’ 07
85 M a r’ 07
80
80
95 D e c ’06
110 M a r’07
93 Sep ’ 06
101*2 102%
99 A p r ’07
98
98*2
119
119
112
112
92 *s
92*2
8 7 34 M ar’ 07
103 H> F e b ’07
110 J ’ n e’ 06

A-O

106

J -J
F -A
J -J
A-O

110 .........
107*8 108>2

A -0
J -J
J -J
A -0

91
Sale
80
83
85*4 86*2
.......... 80

A -O
J -J
J -J

93
io ’-i *4 Sale
99 .........

J-D ......... 102

J-D
J-D 108*2 i l 2 "
J-D

F-A
J -J
J-D
J -D
J -J
J -J

98*2........
118*2 120
111*2113
92*2 Sale
102

.

10634 .

V

F-A
J -J

102 78 F e b ’ 06
98 S ep ’ 06

W

J -J
M-N
F-A
J -J

110 114
106 M a i’ 07
112 1 1 2 % 111*2 112 H
101 102 H 101
101
95 N o v ’06
.......... 80

J -J
M-’ S
J -J
J -J
J-J
A -O
M
A -O
J-D
J -D

67

90*4 95
108*4 11334
88
115
92

94
94*4

116

111
111
I 1 2 7e 113%
116 1 1734
110*2114
68
69*4
117*8 1 19*4
IIC 118^4

111*2 113
i"tf<3 io 6 *;

110

111

109H2 110
94j4 96*8
109*4 109*2

108 108*2
93*2 94

112*2 112H 10 112*2 117

94

J-J

103*8 104
i07Ha 107*2

Jan ’ 06

........ 111

100

A-O
F -A

98 101
1(13*2 10,1*2
104*4 10438

J’ue’Otj
J’ne’Ofc

118

H igh,

112

96
92

105

105

F e b ’ 07

L ow

101

113

A -0

M-N

112

Nov’06
88 Hi Apr’07
"89
113*2 115 Mar’07
92 MarlO,
91

118
......... 110*4

llt i

Sep ’06

Mai ’07
104
10414 Feb’07

......... 106

J-J 107
J-J 112
M-N 117

H ig h

127

104

102H
j.

A-O.

R an ge
Since
Jnm vary 1

116 Nov’06

118*2 .

89
110

W eek’ s
R ange or
L ast Sale

114

118*4

111

111

1.02*2102*4
9 0 34
80
85
80

97
89
87 4
82

110

110

"J9*g
98
97*8
117*4
111
88
87*4
103

i()2 %
101*4
99*»
126
114
94*4
« 7 34
103Hi

106
110
99

1 1 1 **
114
101*2

68
68
57
76*s
65 A p r ’ 07
57*2 76
101 102
102 M a r’ 07
93 M a r’ OC
66*4
Sale
61Ha
66*4 268 54
107 109
109 A p r ’07
97 N o v ’ 04
80
F e b ’ 07
80
80*a
9 73< 93 L e e ’ 06
100
100
100 102
Sale
7 5 7.
69H> 80
74 34
20
32>*
24 “s
Sale
24*a

ib o * 102
*65 7
10S7

75 7s
24*2

/
A-O
A -O
J -J
J-J
A-O
Nov

74*a
75
55*2
58
106*2 A u g ’ O
114*2 115
114*2 114*2
.......... 90*s 90 A p r ’07
34 F e b ’07

A-O
J -J
F-A
M-S
J -J

82*2
68

74 *2 Sale
55 Hi Sale

108 A p r ’07
110 D e c ’ 06
111 Hi A u g ’05
87*2 J a n ’ 07
102*4 D e c ’ 05

105
82

J -J

87

M-S

99*2 100

88

111*2115*2
90
93*2
34
34
108

108

8 7 '2 8THj

87

87*4

86

99

99

98% 103

89

BON US— Concluded.

M is c e l la n e o u s
A d a m s Kx c o i tr g 4 s ..........1948
Am D £ * Im p os A fe C e n tN J
94*
93
A m S 8 C0 o f W V a g 5 s . ...1 9 2 0
72H) 79
B ’ k l’ n K erryO o i s t o o n s g 5s ’48
69 82*2 90
44 1 0 ? Hi 108*2 C h ic J c * S t Y a rd c o l g a s . 1915
« * * , 92
D e t M * M lfla r in c o m e s .. 1911
I n t M ?roa n M a rin e 4H2S..1922
97*2 106
I n t N a v ig a tio n 1st s f 5 s . 1922
M an B oh H * L g en g 4 s . . 1940
\ 94% 102
82
82% Ne-wp N e S h ip * D D 5 s d l 9 9 0
70
70
N Y D o ck 5 0-yr 1st g 4 s . .1951
97
P r o v id e n t L oa n S o c 4HjS .192>
95
104 106*4 St J o<ieph S tk Y d s I s t 4 * 2 s .l9 3 0
8 6 *s 95
S t L T e r C u pplea S tat’ n * P rop
C o ls tg 4 H iS 5-20 y e a r ..1917
c>: 93 Hi 99
4 94*2 99Hi S Y n b a W a t C o c o n g 6s . . 1923
99
97
Sp Val W a t W o r k s 1st 6s.l!H )6
67 93% 97% U S R e d & R e f 1st s f g 6 s. 1931
80

uD ueJan

j D ue F eb

d Due A p r

< D u e M ay

M-N
F-A
J -J
A-O
A-O
F-A
M-N
J -J
F-A
M -S
J -J

70
82

Sale
87

50
93

fl.Due J ’ ne

93%

91

1 l 8 J * ly ’ 04
u s * * r V ( r ’ <to
90 M ar'O T

K D u e J ’ ly

101

lo l

7 0 " *70%

F e b ’Ol-

93 A p r ’ 07
99 May* 06
I 0 0 *2 i*ep ’05

J-D
J -J
M-S

--

100*4 J ’ n o ’ 02
41 O c t ’06
101 M a r’ 07
70 S#p ’ 06
70
70

p D ue W ot

92

05

90 ‘ S T
sO n tion '^ a h l

CHIOAG-O STOCK E X O H O ’GrE—Stock Record—Daily, Weekly and Yearly
S T O C K S — H I G H E S T A N D LO W E S T S A L E P R I C E S
S a tu rd a y
A p r i l 20
►180
*4

200
5

*434
5
*15*2 1 6 k
..54
*
* 8 4 14 85
*24
26
*64
65
*36
43
*
...25
*
.. 60
*7 9 k 80
*28*2 29*4
*95
98
20 k 3 0 1

M onday
A p ril 22

T u esd a y
A p r i l 23

182 183
185 185
'1 8 0 200
*4
5
*4
5
•4
5
*15
16
i 6a4 17*2
19*8 19is
17 k 19
4
4*a
4V
4k
4 »4
5
* 14 k
16
14
14
14*4 15
' ..........
£4 ' ............54
1.......... 54
84kj 84 k
8 1 \ .-4^
84>a 84 k
■..........
26
!4
26
'6 4
65
•35” ” 40*
35
35
37*2 37 k
►
..........
25 *......... 25
*......... ..25
' ..........
60 ’ ......... 60
58
58
80
80
HO
81*2
81*2 8 1 k
29
29
*28 “a 29*4 *28 >a 29*4
*95
98 *95
98
32
"30" " 3 l "
30
30 *2y

63*
63,
6 5a
6 3t
57
57
• ......... 130
130 130
■*127 136
128 128
* . . . . 7 3 3< *72
74
* i()4 k . . . .
*35
40
*35
40
34
34
* 3 5 ^ 37 k
106 106
'1 0 6 110
50
50
*48
53
*1
11*
*5»4
6
*140
143
*40
41*i
130
1 *0
*105
106
124
124*4
*53
54

'1 4 0
*40
130
■105
124*4
53*2

76 >2 76 k
*113 k 114
*70
75
*111 115

76=8 77
114 114
.......... 75*4
..........116*4

40

41k

*8 8 *2

8934

105*9 1053,
1401,140**

100

2 ‘s
12

*26

100

2i*
12

W ed n esd ay
A p ril 24

'1

I 1,
<3
143
41k
130
106
124*54

41
43
*88*3 8 9 k
105 kjlOSSj,
143 '148*2

101

101

2

2

12

12

*6*4
6 34
6®b 6®i
57
573*
67*4 57*4
' ......... 130
1......... 130
127 136
130 130
*7134 74
*73*4 7 4
104 106
*35
40
"3 5
40
*35
37*2 *35*2 3 7 k
106 110
'1 0 6 110
*49
53

*1

l*s

*1

77
77*4
77
77*,
113*2114*2 114*2 1 1 4 k
77 *»
*70
75*( *70
110 116
1......... 1 1 6 k
42
42
89ki 89 k
1 0 5 ^ 105 \

'4 0
42
90
90
105*8 10534
146 150
■........... 101
2

2

12

12

i o i " io i
*2
2 *,
n « s llS

26=8 265a

26*2

1 l,

*534
6
143 143
41
41
130 ** 130*8
105 1 0 5 k
1 2 3 ’4 124
6 3 s*

♦534
6
143
143
* 40
4 1k
130
124
105
106
124 124*2
*54
£5

T h u r sd a y
A p r i l 25

F r id a y
A p r i l 'a6

F r ic e
3i~idav
A p r i l 26
B id

W eek’ s
R a n g e or
L a st S a le
Low

R a n ge
fo r year
1907

H ig h

L ow

H ig h

100

100

..1 9 1 2 J -J
..1 9 2 7 J -I.
J -J
J -D

100*2 A p r ’ 07
101 M a r’ 06
103 A p r ’ 04
55 A p r ’ U7

101*4 102

J-J
A-O
F-A
A -O
A-O
J -J

100*2 N o t ’ 06
10034 101
9 6 34 Jan ’ 06

98

100

Cass A v e & F G (S t L )—

......

C h ic E d is o n - .1 9 1 3
.A 192 6
..1 9 2 9
..1 9 2 9
..1 9 1 2
..1 9 1 9

100

101
100

55

55

ib o '4 i o i '

98
87

F e b ’ 06

CJiic P n eu m T o o l.a l9 2 1 J -J
C h ic R o c k I & P a c R R 4 s .2002! .1-N
C o lla t T r u s t g 5 s ............. 1913| il-S
C om m on w ealth E le c t —
5 s .........................................61943 II-S
I llin o is T u n n e l 5 s ............. 1928 J -D
K a n s C ity R y & D t C o 5 s. 1913 M-N
K m c k e r b 'c k e r I c e 1st 5 s .l9 2 8 A - 0
Liake S tr e e t E i­
l a t 5 s ................................... 1928 J - J
I n c o m e 5 s .......................... 1925 F e b
M e tr W S id e E l—
1st 4 s ................................... 1938 F A
E x te n s io n g 43 .................1938 J - J
STorch C h ic S t 1st 5 s ..........1909 J -J
1 st 5 s ................................... 1916 J -J
R e fu n d in g g 4 k s ........... 1931 A -0
N o C h ic C ity R y 4 k s ...1 9 2 7 .VI-N
N o rth W e s t ’ n E l—
1st 4 s ................................... 1911 M-S
O gd en G as 5 s ...................... 1945 M-N
Pearsons-TaX t 5 s .................1916 J -D
4 -4 0 8 ............................................ AI-S
4-60s S eries E ........................... M-N
4 -80s S eries F ............................M-H
P e o p le ’ s G as L & C 1st 6s . 1943 A-O
R e fu n d in g g 5 s ............... 1947 M-S
C h ic G as L t & C 1st 5 s . .1 9 3 7 J - J
C o n s u m e rs ’ G as 1st 5 s .. 1936 J -D
M u tu al F u e l G as 1st 5 s . 1947 M-N
S ou th S id e E le v 4 k s ..........1924 J - J
S w ift & C o 1st g 5 s ............191 4 J -J
U n ion E l (L o o p ) 5 s ............1945 A -O
U n ion P a cific eon v 4 s ___ 1911 M-N
U n ited B o x B oa rd 6s ..........................
W e s t C h ic S t 1st 5 s ............1928 M-N
T u n n e l 1 st 5 s .....................1909 F-A
D e b e n t 6s .......................... 1914 J-D
C on sol g 5 s ........................ 1936 M-N
W e s t D iv C ity R y 4 k s . . 19 3 : J -J
W e s t’ r n S to n e C o 5 s ........190ii A - 0

803s Salt

79 7g

101 *2 Sale

S0®8 20

77

81 “s

101*2 1 01 k
90 D e c ’ 6 6
98 J a n '07
99*4 N o y ’ OO

100

1 0 2 34

79
80

N o r ’04
A p r ’Oi

"9 8 * ’ ‘ 98*4

91

91k

91 *a F e b ’ 07
16 M ay’ 05

90

933(.

69
$4

90
84 k

9 0 A p r ’ 07
84*2
e’ 4 k
90 D e c ’ 06

90
80

90 7g
85

75

75

A u g ’ 06
F e b ’ 07
8 9 34
90V
93 *2 M a r’ O'
100 k M ar’ 06
*97
97 M a r’07
* 98
99 O ct ’06
99*2 Sep ’ 06
*99
118 N o v ’ 06
101 A p r ’ 07
103 104 103 k
103 k
101 102 101
101
103*2 F e b ’ 06
“ 9 9 ' " y a k 99
99
100 100*4 10034 10034
99 100 *t. 100
100
114 N o v ’04
■'69' ” 7 2 "
70 A p r ’ Of
SO
85 A p r ’07
95
68 *2 Sep ’ 05
72 *2 D e c ’ 06
76 A p r ’ 07
75
76
87 D e c ’ 06
9 6 k J a n ’ 06
90*4 Sale
93
93k

N o t e .—A c c r u e d in te re s t m us t be added to all

R a n ge lo r Y ear
1907

R an ge lor F rev iou s
Y ear (1 9 0 6 )

H ig h est

Low est

H igh est

Chicago Banks and Trust Comoanies

iOO** M a r’07’

..1 9 1 0 F-A
..1 9 1 1 J -J

Sales
0/ the
W eek
Sharea

tf a il r o a d s
'1 8 0 200
*180
200
C h ic C ity R y ............... KM
70 150 M a r l 9 205 Aj>r r 140 Sep 200 J a n
L a st S a le 4
M a r’07 Ch ic <fc Oak P a r k ........10(
4
M a rl5 Jiee | 7 34 J a n
5 Jan 2
15
15
*14*2
15 k
1)0 2^T8l ............. . . 10\/ *” l 0 14 F e b 2 t; 16 A p t « 15 D ec 283ji J an
17
18
17*2
17*2 C h ica g o S u b w a y ........100 1,660 15 M a r l 4 46 k Jan 2 3 9 34 J ’ly 5;» M aj
4 >2 4 k
*4*3
5 C h ic U n io n T r a c t ___ 100 1,035
4
A p r 2.
6 *4 A p r :•
4 J 'ly | 13*4 Fed
*14
15
245 14
*14*a
16
D o p r e f .................100
A p r 2:- 19*4 Jan ** 12*2 Mas 46*4M aj
A p r ’ 07 K an s C ity R y & L t ..1 0 0
L a s t S a l e 54
49
M ar2. 65 Jan in 54 k Jan 6 S k F eb
84** 84
34*2
84%.
D o p r e f .................100 “ 560 83
M a i 2 5 87 Jan 17 85 Oct 93 *2 Feb
A p r ’ O' M e tro p o l W S E l e v . .1 0 0
L a s t S a le
24
M ar 1 28 Jan 24 25 Oct
30 J ’ ni
L a s t S a le
A p r ’ u7
D o p r e f.................100
64 A p r 4 72 J a n 15 65 k O ct 72 k N o f
36
'35
40
36
153 34*2 A p r i l
N o rth C h io S tr e e t ___ 100
45 A p r 4 25 M ar 85 M ai
23
22
22
300 22 A p r 2 6 25 k Jan 25 23*2 J ’ly 28 k F e b
N o rth w e s te r n E l e v . .l 0 0
58
*f.8
200 58
D o p r e f.................100
A p r 24 ‘>4*2 J an 15 60 M ay 68 k Mar
” 80
*81*2
83
S ou th Side E l e v ......... 100
198 75
M a rl* 90 Jan 4 89 *2 A p r 99 J ’n<
*28*2
29*4 S tr.eetsW S table C L 100
*28*2
lOu 28
M a i 21 34 J a n li
27 Mav 35 *4 N ov
L a s t S a l e 93
A p r ’0<
D o p r e t .................100
96 kj F eb 2- 98 J a n 21 97 D ec 102 J ’ n«
>25
31
31
26
405 20
M a r l9 35 A p r 3 23 A p i j 60 F e b
W e st C h ic S tr e e t........ 100
U is c e U a n e o iis
0%
638 A m e r ic a n C a n ............. 10<
6*2
6*2
415
434 Jan 25
7 *4 A p r 11
6 J ’ nt I l l 78 J a n
56
56
5 7 *4 5 7 *2
910 4 8 34 M a r l5 60 A p r 1C 51 J ’ly 72 J a n
1)0 p r e f --------------l o t
*126 130
*126
130
A m e r R a d ia tor.......... 10<'
129 J an 7 133 K eb2! 115 Feii 130 N ov
*127 136
128
128
17 122*2 M a r- 8 130 A p r 24 128 k De« Ij 136 Jan
D o p r e f .................100
74
74
73 7e
T.V, A m er S lu p old ir........... 100
200 63 M ar20 fcOk J a n 14 54 Jan 81 N ov
L a s t S a l e 105
A p r ’ 0.
D o uref. .1........... 100
1 0 4 k A p r 10 109 J a n 7 101 Jan I112 N ov
L a s t S a l e 38
A p r ’07 A m e r S tra w B o a r d .........
30 Jan 2 4 0 M ar28
17 Fei | 3 I *2 D ec
* 3 5 k ;v7k ■35 k
37 *v Bootli (A ) <fc C o ......... 100
34 A p t 20 38 *a F eb 1 36 Jan ! I 40 Feb
*106 110
110
*106
Do p r e t.................100
,106 A p r ? 0 111 F eb 8 106 w e t; |113>2 J ’ n«
53
5 - *2 5 2 k *;.o
60 50 -Marla 54 Jan 8 55 M ay Ij 64 t^eb
Cal ifc C lac Cana! & D10<
L a s t . s a l e 165
M a r’07 C en tral T r u s t B a n k .. 100
. - . . j i 65 F e b 27 165 F e b 2 7 1683s May; 175 May
L a s t S a l e \L6
M ar’06 C h ica go A u d ito r iu m .......
16 F eb ! 16 k Feb
L a st sa l*
M a r ’ 07 C h ic B r e w ’ gifc M a lt’ g ___
1 Jan ;■
1 M ar
1 J a u i<|
1 M ar
L a st S a le 6
Jan ’ 07
D o p r e f........................
6 J an y
6 Jan 9
6 N or!
7 Jan
143 143
*140
143
82 129 M ar2i 149 A p r
C h ic E d is o n .................10<
136 J’ly 165 F e b
41
41
41
41
260 40 M a r l5 51 F eb 8 48 *4 Dec 63 F eb
C h ic P n e u m a tic T o o l. 100
130*4 130*4 130*4 130*4 C h ic T e l e p h o n e ......... 100
155 1 1 5 ’2 Jan 2 134 *2 A p r 4 l o l
A p r 139 J a n
105 105
105*2 10.> k C h ic T it le & T r u s t ... 100
i2 5 102*4 M arlO 108 J a n 3 103 May 118 J a n
124 124
124
45* 119*2 Jan 24 126 M a r l2 118 J ’ ne 147
124
D iam on d M a tc h ..........100
Keb
*54
55
*54
55
Illin o is B r ic k ............. 100
65 4 4 34 Feb 1 54 A p r 16 4 1 k Sep 7 1 34 J an
N o v ’ 05 K n ic k e r b o c k e r I c e . . .101
L a s t S a l e J#2*4
L a s t S a l SO
F e b ’ 06
D o p r e f .................100
7 9 78 Feb 80 F eb
Jan ’ 07 M ason ic T e m p l e .............
L a st S a l 4\
4 5 ^ Jan 31 46 J a n 11 46 May 4 « Sep
L a s t S a l 2*2
J a n ’ 07 M il& C h ic B r e w ’ g ...........
134 May
2 k Jan 23
2 k Ja n 23
2*2 F eb
L a s t S a l 27
M a r’07
D o p r e f ..................
27 M ar 4 21 J ’ ne 23 M ar
25 F eb
77*4 N a tio n a l B is c u it ........l o o
*76*2 77*4 *7634
575 76*2 M ar2 9 86 Jan 14 62 May 79 k D ec
114*9
►114 1 1 4 k *113 k
21 112 M ar2o 11734 Jan 7 113*2 Jan 119 O ct
Do p r e f .................100
C a s t S a l e 70
A p r ’ >7 N a tio n a l C a r b o n ........100
70 A p r 18 84*4 J a n 11 78 Jan 95 M ar
L a s t S a l e 111
A p r ’ 07
D o p r e f .................100
107 A p r 9 120 J a n 17 112 D ec 122*2 M a r
M ay’ Of. P a g e W o W ire F e n c e .
L a s t S a l e 534
J ’l y ’06 P e op le’ s G as L & C’ kelOO
L a s t S a le 9 y k
8 8 78 Ply 93 k M ay
43
43
*40
44 Sears R o e b u c k c o m . 100
392 40 A p r 17 57 J a n 10 50 A u g 63 *2 D ee
90
90
89 >2 90
Do
p r e f.................100
340 8 8 34 A p r 17 95 Jan 23 92*4 No\ 99 Sep
IO534 105
105 78 106
S w ift & C o .....................100
936 101 k M a r l5 113*2 J an It 101*4 Jan 119 *2 Sep
150 153
155
159 T h e Q u ak er Oats C o. 100
258 lc!3 A p r 9 159 A p r2 6 115 Ma< 152 -1 J an
■100 101
100
D o p r e f.................100
330 98 *2 A p r 9 1u234 Jan 16 99 *2 Dec 10634 Feb
100k
*2
*2
2*8
2*8 U n it’d S o x Bd<& P ColOO
600
1 Jan 2
2 *4 A p r 8
:*4 I)e<2 34 J a n
1134
12
12
11*2
D o p r e f.................100 2,146
6 Jan 2 12a4 A p r 8
5 >4 Dec 17*4 Jan
26
W e ste rn S to n e ........... 100
*25 >2 26*2 *25
25 M a r20 30 F e b 14 28 D ec 42 M ar
.Vlininc
L a s t S a l e 35*2
Jan ’ 07
32*2 Jan 24 32ka Jan 24 293j j ’ ne 4434 F e b
L a s t S a le 10
N o v ’ 06
73, J ’ ly 14*4 M ar
L a s t S a l e i6 ‘ *4
A p r ’ 07 D a ly -W e s t ........... ......... 20
16*4 A p r i o 20 J a n 32j 14*4 M ar 20*8 N o r
L a s t S a le 4
N o v ’ 06
4 3s O ct
3 >2J ’ly

Chicago Bond Record
BONDS
C H IC A G O S T O C K E X O H ’ G t
W e kk E nding A p r i l 26

STOCKS
C H IC A G O ST O C K
EXCHAXGE

C h ic a g o bo nd

8934 90=8
92
95
97

97

1 01 102 k
104*2 1043,

101

102

9 8 " ib o 'k

100

102*8

93*2 100
6 8 * '*7*5*'
85
85
70

78

p r ice s.

N A > IE

O utstand­
S u rp lu s <1
in g
In
Fro/lU\
Stoctct
190 5

D iv id e n d R ecord
In
F er
19 0 6 iou

L a st F a id
%

B a n k ers N a t io n a l ........ $ 2 ,000,000 $1,240,475
8
8
Q -J A p r ’ C7, 2
C a lu m et N a tio n a l..........
100,000
J - J Dec ’ 06 6
34,931
5
5
C h ica g o C it y ...................
500,000
J -J Jan ’07, 5
10
137,441
10
C om m ercia l N a tio n a l.. 03.000,000 4.100,000
12
12
Q-J A pr ’ 07, 3
Q -J A p r ’ 07, •i
C on tin en tal N a tio n a l.. 4 ,000,000 2,772,579
8
8
C ook CO S ta te S a v in g s
5 0,000
6
6
7,773
Q-J A p r '0 7, I *
C orn E x ch a n g e N a t .. . 3,000,000 4,528,030
12
12
Q-J A p r ’07, 3
Drex,el S ta te ...................
30,017
6
6
200,000
Q -J Apr ’ 07, 1*2
D ro v e r s D ep N ationaii
8
339,535
8
600 ,000
Q -J A p r ’07, 2
E n g le w o o d State
3
31,488 __
Q -J Apr ’ 07, 1*2
200,000
7 4 ,-2 9 Be^aii bu sin ess O ct 1 6 ,1 9 0 6
F ed era l N a tion a l
600,000
Q-J A p r ’ 07, 3
F irs t N a t io n a l............... | 8 ,0 00 ,000 7,036,667
12
144,834
10
F ir s t N a t E n g le w o o d ..
1 0 + 1 0 Q-J Apr ’ 07, 2 4
100,000
646,375
P r iv ate Ba nk
F o re m a n B r o s B ’k ’ g Co
500,000
3 7 6 ,1 2 0
F o r t D e a rb o rn N a t ___ 1,000,000
6
6
Q-J A p r ’07, l » i
181,778
H a m ilto n N a t io n a l___
F -A Feb ’ 07, 3*2
5 00 ,000
H ib e r n ia n B ’ k ’ g A s s ’ n| 1,0 00 ,000 1,103,700
8
10
Q -J A p r ’07, 2
....
K a sp a r s t a t e B a n k ___
9 1 ,3 5 9
200,000
M on roe N a tio n a l
Q-F Feb ’ 07, 1
« 20o ,000
'3*
2 3 ,25*
Jan *07,
M u tu al B a n k ................
65,071 .. .
250 ,000
N at B a n k u f R e p u b lic . 2 ,000 ,000 1,202 ,868
Q-’ i A p r ’07, 2
6
"e
N a tio n a l C it y ................. 1,500,000
357,74b B eg an b u sin ess F eb 5 ,1 9 0 7
N a tio n a l L iv e S t o c k ... 1 ,000,000 1,3 1 9 ,Olti 1 2 + 3 1 2 + 3 Q -J A p r ’07, 3
N o rth A v e S ta te ...........
51,581 B eg an busin ess D e c 8 , 1906
iOOjOt.'O
Q-J A p r ’07, l*a
N o rth S ide S ta te S a v ..
6
5.728
6
50,000
Q -J A p r ’07, 1 **
O akland N a t io n a l..
6
33,751
6
100 ,000
P ra irie N a t io n a l...
6 3 ,4 8 "
250,000
|38
P ra irie S ta te ...........
A p r ’07. -e
55,961 “ 8*
c500,000
R a ilw a y E x c h a n g e ___
9,108 B e g a n b u s in tan J u ly 3, 1906
250,000
60,245
5
Q -J A p r ’07.
S o u th C h ica g o S a r in g s
4
200i000
81,136 O rga nized O ct 12. 1906
S e c u r i t y .................
300.UOO
S
8
Q -J A pr ’07, 2
S tate B a n k of C h ica g o . 1 ,000,000 1,022,496
145,204 N o n e
S to c k Y ard s S a v in g s
250.000
U n lo n B a n k o f C h icago
200.000 ,• 38,345 Began M ay 1, 190 5.
49,168 N o n e
U n io n S lo c k Y d s s t a le
6
Q -J A p r ’ 07, !» ■
200,000
8
A m e r T r u s t <fe S a v e s .. 3,000,000 2,454,86t<
8
Q -J A p r ’07, 2
966 ,162
C en tral T r u s t Co o f 111 2,000,000
5*2
7
Q-J A p r ’07, l \
n 8 8 ,o 2 <
C h ica g o S a v B k & T r .
n 500,000
....
7,443
.... J
C itize n s T r u s t & S a v .
50,00o
539 ,676 5 + 5
C o lo n ia l T r u s t & S a v .
600,000
io *
Q -J A p r ’07, > 1
7 0,03 «
6
D ro v e r s T r u s t & S a v .
200 ,000
6
Q -J A p r ’ 0 7 ,
863 ,892
F ir s t T r u s t <fe S a v in g s 2,000,000
258,122 B egan bu sin ess F e b 4. 1907
H arris T r u s t & S a v . . . 1,250,000
Illin o is T r u s t & S a v .. 4 ,5 0 0 000 7,6 1 6 ,2 0 8 1 2 + 4 1 2 + 4
U F e b ’07, 1
J a n •07, I t
30,901 ....
K e n w o o d T r & S av in g *
2 00 ,000
24,965 O rga n ized N ot 18, 1905.
200 ,000
L a k e V ie w T r & S a v ..
M e rch a n ts’ L ’ n & T r C o 3,000,000 4 ,116,636
12
Q-J A p r •07, S
12
3 28 ,745
750,000
Q -J A p r •07, I *
M e tro p o lita n T r & Sav
6
6
Q -J A p r ’0 7 , s
8
N o rth e r n T r u s t C o ___ 1,500,000 1,719,515
3
20'>,000
35,906 O rga n iz e d J ’ly 28, 1906
N o rth w e s t T r & S a v ...
200,000
51,060
P e o p le s T r u s t Jfc S a v ..
*3 0 0 ,0 0 0
256,602 “ s ’
P u llm a n T r u s t & Sav.
Q -J A p r ’ 07, 2
" i
Q-F F eb ’ 07, a
5 00,000
545,693
R o y a l T r u s t C o .............
8
6
S to c k m e n ’ s Tr<fc S a v ..
200,000
6,239 In o o r p orate d M arch, 1905
U n io n T r u s t C o ............. 1,000,000
.....
898 ,992
W e ste rn T r u s t & S a v . 1,000,000
288,760 ‘ *0
6 + 1 Q -J A p r ’07, i » »
W Side T r & S av B k ..
18,722 B egan busin css Sop » , 190*
200,000
W o o d ia w n T r & S a v Bk
Q -J A p r ’ 07, 1 %
6
24,832 ■***
2 00,000

....
....
_

....

•••_

.

.... ....

| D iv id e n d s are paid Q -J. w ith e x tr a p aym en ts Q-F.
ITIn c lu d e s sp e cia l d iv id e n d o f 3 0 % p aid D e c. 18, 1906.
t M a i o h 2 2 , ’ 07 fo r N a tio n a l B a n k s
and M a r c h 23, ’ u 7 fo r S tate in stitu tio n s.
* Bid and asked p rice s; no sales w e re m ade on th is day.
t N o p r ice F rid a y ; la te st p riee t h u w eek , a D a e D *b. 31.
b D ae J a n e , c C apital in cre a s e .1 J.ia . 1.1 9 0 7 fro m $ 3 5 0 ,0 0 0 , a casli d iv id e n d o f 30 p e r c e n t b e in g d e cla re d an d to be tak en as p art p a y m e n t fo r new sto c k .
A D u e J u ly . * C apital to be in c re a s e d to $ 5 0 0 ,0 0 0 , a s to c k d iv id e n d o f 33*3 p c. b e in g d e cla re d in p a r t p a y m e n t th e r e fo r .
n C a pital and su rp lu s to b «
in crea sed . 0 C a pital in c re a s e d fro m $2 ,0 0 0 ,0 0 0 . a n d '$ 2 ,0 0 0 ,0 0 0 added to s u rp lu s, s C apital to "be in c re a s e d to $ 3 0 0 ,0 0 f




A

pr

. 27 1907.]

987

THE CHRONICLE.
T e l e g r iSc T e le p h o n e
1] A m e r T e l e g * C a ble 100
IlC entrai & So A m e r . 100
C om m er U n T e l (N Y ).2 5
Em p & B a y S tate T e l 100

In d u s t r ia l n n 'l .H isoel
RiU
Ash
8 11
1C on s S to r a g e B a tterylO u
C orn P ro d R et Sc? S tock E x c h list
C ram ps’ Sli«fcEn B ld g l 00
T R A N S A C T IO N 8 A T T H E N E W Y O R K STOCK E X C H A N G E
0 l41 ” » 4
IjC ru cib le S t e e l......... '1 0 0
D A IL Y , W E E K L Y A N D Y E A R L Y
714
IJ P re fe rre d ............. ..1 0 0
55
*124“
UGold * S t o c k ........... 100 110 - . i . . . ^ D ia m o n d M a tc h C o. m o
Stocks
Week *ndinq
6
H u d so n R iv e r T e le p li 100
D o m in io n C o p p e r(n ew ) 10
55
65
Railroad <tc
State
V S
A p r il <*6
10
1 1 N Y & N J T e l e p l i . . .'; 00 1 1 3 4 114 4 D o u g la s C o p p e r ............. 5
Bonds
104
Bonds
Bonds
1
Par value
Shares
30
33
11N o rth w e s te r n T e le g . 50 105
115
E ie c tr ic B o a t.............100|
75
P re fe rre d ...................100
80
P a cific <fe A t la n t ic ........25
72
$ 66 ,500
To”
$65 7,00 0
128,494 $ 1 1 ,714 ,40 0
E le c tr ic V e h ic le ......... 100
1] S ou th ern & A tla n t ic 25
95
101
1.325,500
122,oti0
74.604.750
12
875,605
P r e f e r r e d ...................100
F e r r y C o m p a n ie s
$2,500
278.000
1.371.000
10
67.277,950
Em pire S te e l............... 100
781 .268
400 ,500
37,000 B ro o k ly n F erry stocklO O
51
1,459.51*0
48
6 1.755.750
P r e f e r r e d ...................l o o
757 ,680
4
W e d n e sd a y .........
14
5o
305 .000
J ,278,000
60
39.172.300
1iF ed era l S u g a r ,c o m .. 100
4 61,367
T h u r sd a y .............
B & N Y 1st 6s 1 9 1 1 .J-J { 98
4,0 0 0 X Y & E E F e r r y s tk . 100
1.149.000
69,500
3 1 .424.300
85
90
368,57 j
UP r e f e r r e d . ................100
60
70 "
F r i d a y ..................
05
70
1]G e n e ra l C h em ical ..1 0 0
80
1st 5s 1 9 2 2............. M -N
9S Hi 100
*7 ,2 4 0 ,0 0 0 $ 1,242,000 $43 ,500 S Y 4 H o b co n 5s ’46. J-D {1 0 0
11P r e fe r r e d ................. 100
104
T o t a l .................. 3,372,987 $28 5 ,9 5 2 ,4 5 0
107
G old H ill C o p p e r ......... 1
14
14
H o b F y l s t 5 s 1946 M -N {1 0 5
January 1 to A p ril 26
Week e.ndina A p r il 26
16 4
N Y * N J 2d 5s 1 9 4 6 . J-J a oo 106 G reen e C a n a n e a ........... 20 t 1.4
Sales at
30
..... G re e n e C on C o p p e r ...1 0 t 24 26
10th & 23d Sts F e r r y 100
Sew York Stock
14
. . . . . G re e n e C on sol G o l d . . . 10
14
1st m ort 5s 1 9 1 9 ...J -D { 7 5
1906
Exchange
1906
1907
32
G re e n e G o ld -S ilv e r .... 10
29
14
14
fiU nion F e r r y s to c k .1 0 0
91
93 G rn gg en h eim E xp lo’ n.lOO 200 225
111st 5s 1920 ............M -N
101,761,909
6,^02,627
8 9 ,188,041
3,372.987
S to ck s —N o. shares
H a c k e n s a c k W ater Co —
Par v a iu e .......... *285 .962 ,45 0 $ o l 0 , 774,700 $ 7 ,616,605 ,910 *9 ,1 65,480,950
S h o r t T e r m N o te s
92
R e f g 4s 52 o p 1 2 . . .J-J i 90
*2 4 0 ,9 0 j
$15 7,50 0
$10,000
B ank shares, p a r ..
80
H all S ig n a l C o ........... 100
94
A m C i? s e r A 4s ’ 1 1 .M -S ? 91
bonds
114
H avan a T o b a c c o C o .. 100
93
S er B 4s M c h l5 ’ 12.M-S { 90
* 6 9 4 ,4 0 0
$299,500
*29,000
$43 ,500
g o v e r n m e n t bonds
18
P r e fe r r e d ................... 100
m T e l & T e l g 5s ’ 10 J -J i 97% 9 7 4
34,895,450 A
19,929,400
2,094,900
1,212,000
S tate b on d s.............
60
63
1st g 5s J u n e 1 ’ 2 2 .J-D
A tla n C o a st L 5 s ’ lO .M -1- { 97% 98 4
156,769.500
2J 9 ,660 ,30 0
11.694,200
7,210,000
R R . and m is. bonds
H ult'Roch& P g 4 4 s ’ 0 9 F -A «...... ...... H ecker-J ones-J e w ’l M ill
107
1st 6s 1 9 2 2 ............... M -S 103
C e n tC r o s s ’ n g u 5 s ’09M -N { .........
$1
7
6,99
8,4
00
$
2
7
6,25
0,1
50
$8,525,500) $ 1 3 .8 i8 ,1 0 0
T otal b o n d s ___
38
C h ic & A l t 5s 1 9 1 2 ... J - J i ......... 98 ^ H e r’ g -H a ll-M a r.n e w .lO O
Cii R I & P a c 4 ^ s ’ 07. J- J / 9^*4 1 0 0 4 H o b o k e n L a nd & Im plO O 200
115s 1 9 1 0 ...................M -N >100 103
D A IL Y T R A N S A C T IO N S A T T H E BO STON A N D P H IL A D E L P H IA
4 4 s 190,>...................A - 0 i 98% 9 8 a4
5
7
C h ic ifc W I n d 5s ’ 10 F & A { 984 9 9 4 H o u s to n O i l ................. 100
EXCHANGES
40
43
P r e f e r r e d ...................100
Cin H a m & D 4
9 3 4 93 \ H u d son R e a lty ........... 100 120 135
E r ie 6s, A p r 8 1 9 0 S .........
P h ila d elp h ia
Boston
54
Week ending
in t e r b R T g 4s 1908 M-N { 98
9 8 4 V In g e rs o ll-R a u a c o m . 100
90
A p r il 26
5 s M c h 1 9 1 0 _______ M-S i 9 7 4 9 7 4 1|Preferred...................100
Bond
Bond
Unlisted
Listed
Listed Unlisted
1901
135
K a n C S o g 5 s A p r ’ 1 2 J - J { 95 4 95 s, In te ru a t’ IB an k in gC olO O 125
sales
shares
sales
shares
shares
shares
8®,
74
L a c k S t e e ig S s , 9 0 9 . . M-S { 96 ^ 9 6 4 IJIut’n ’ l M e rc M a r ...1 0 0
U Pref v t tr c t f h....... 100
2 3 4 , 24
5s g 191 0.................... M-S i .........
$1
1.300
4,425
2,751
419
,500
4,566
$8,747
S a t u r d a y ........
1 9>.% 9 9 H if C ol tr 4 Ha See S tock E x c h list
L
a
k
e
Sh
&
M
So
5
s’
10
F-A
4 7 ,'0 0
10,002
71,500
18,516
25.054
M onday .......... 32,684
120
I n te rn a t’l N i c k e l ___ 100 i l o
99 4 LOO
19.500 L o u & N a sh g os ’ 1 0 .M-S {{ 99
11,025
55.0U0
15,797
28.3 J6
T u e s d a y .......... 22,227
83
87
994
P r e f e r r e d ................... 100
8.49 l
65.500 M ich C e u t5 s 1910 . . . F -A { 97
52.000
53,406
15,490
17,168
W ednesday. .
14
16
I
n
te
rn
a
tio
n
a
l
S
a
lt___
100
M
m
n
&
St
L
g
5
s
’
1
1
..
F-A
98
104,600
2,622
31,537
46.000
9,027
T h u r sd a y ........ 18,626
50
60
{
a
9
1s
t
g
5.
1
9
5
1
...........
A
-O
994
73,800 M o P a c 5s F e b 10 ’ 08. F-A { 99
7,859
26 ,900
10,740
44,989
18,866
F r i d a y ............
5
100 In te r n a tio n a l S ilv e r . 100
N a t o f M e x 5 s ’ 0 7 .o p t A -O
74
62
68
P r e f e r r e d ...................100
N Y C e n t 5s 1 9 1 0 .... F -A { 9 9 4 9 9 4
$32 2,20 0
42,753
$2 7 0,00 0
187,736
74,136
T o t a l........... 118,318
108
1st 6s 1 9 4 8 .................J-D 105
P e n n C o g u 4 4 s 190 7M-N i 9 9 4 100
55
60
L a ck a w a n n a S t e e l .. .1 0 0
f a R R 5s M ar 15 ’ 10.M-S { H8»4 99
St L M S o 'e a s t 4 S s’ 09 J -D { 96
9 6 4 b a n sto n M o n o ty p e ........20 t 1 2 4 13
S t L & S F g 4 '•j’ 0 8 . . . J - D { 9 5 4 96 H
i L a w yers M o r t C o ........100 197 203
O u ts id e S e c u r it ie s
52
70
S o u th ’n c o ll t r 5s ’ 0 9 . A-O i ...... . . . . . . 'JLeh <fc W ilk e s b C o a l.50
A Weekly Review o' Outside M arket w ill be found on a preceding page.
130
S o u th R y g 5s 1 9 1 0 .. F-A { 95
95 >4 L o rd & T a y lo r ............. 100 125
98
102
P r e f e r r e d ...................100
T id e w a te r Con C o 6 s l9 0 9 { 99
99 4
S tr e e t R a ilw a y s
S tr e e t R a ilw a y s
Ask
Bid
Ask U S R u b b e r g 5 s ’ 0 8 ..M .s { 9 8 4 99 K, U LorUlard (P ) p re f . .. 1 0 0 125
140
Bid
P u b S e rv C orp N J (Con)
NEW YORK CITY
W a b a sh 5s, M a y 10 1909 1...... 97*, M ack iy C om p a n ies Sec Stk E x lis t
......... W e s tin g h E 1& M us.1907 J 9 9 4 1 0 0 4 M adison So G a r d e n ..1 0 0
35
15
J C Hobefc PatersonlO O
25
27
30
B leeck St»fc F u l F stk 100
75
69
85
4s g 1 9 4 9............. M -N i 68
80
2d 6s 1 9 1 9 ............... M-N
90
111st m opt 4 s 1950 ..J -J
W h e e l’ g & L E 5s ’ 0 8 -F -A { 9 6 4 97
3
116
7
So J G as E l & T r a c 100 115
235
fiM anliatt B e a ch C o .100
D B’y & 7tli A y e stk ..1 0 0 220
R a ilr o a d
5>*
104
G u g 5 s 19 5 3 ........M -S { 97
98
M an h a ttan T r a n s it___ 20
112(1 m ort 5s 1914 ...J-J 100
54
13
17
N o H u d C o R y 6s’ 14J-J {1 0 9
C h ic P e o & S t L p r e f.1 0 0
C on 5s 1943 See S to ck E x ch list
M e x N a t C o n stru c.p flO O
4
106
5s 1 9 2 8 .................... J-J {1 0 7
D e p o s ite d stock..............
1
M itc h e ll M in in g ............10
34
3
B’ w ay S u rf 1st 5s g u 1924 102
300
102
7
E x t 5s 1924
M -N {1 0 0
U n d e p o s ite d s to c k
1
M o n o n g a h e la R C o a l..5 0 I .........
IICent’ 1 C ross t’ n s t k . .1 0 0 250
3
23 4 24
115
P a t C ity c o n 6s ’ 3 1 .J -D {1 1 0
P r e f e r r e d .....................50
P r io r lie n g 4 4 s ’ 30M<fc S
90
100
H ist M 6s 1922 ...M -N 108
90
i9 0
2d 6s . . ..1 9 1 4 o p t A-O {1 0 0
LOO
C on m tg g 5s 1 9 3 0 . J& J
56
M o rtg a g e B o n d C o . . . 100
flC e n P k N <fc E R s t k . 100 175
65
170
So Side E l (C h ic)
See C h icago list
5
I n c o m e 5s 1 9 3 0 ...............
10 N at B a n k o f C u b a___ 100 100 105
flC lir’ t’ r & 10th St stk 100 150
S y ra cu se B a p T r 5s 1946 {1 0 4
105
175
C h ic S u b w a y .................100
17 >4 1 7 4 N ation a l S u r e t y ..........100 165
Col& 9th A v e o s See S to ck E x ch list
T r e n t P & H 5s 1943J-D {1 0 0
102
F t W & D e n C y s t d .. l 0 0
95
N e va d a C o n s ’d C o p p e r .5 * 14
144
D ry D E B & 3 —
U n ite d B y s o f S t L —
G re a t N o rth e n O re See S tk E x last N e v -U ta li M in & s m . l t
108
44
111st g old 5s 1 9 3 2 ...J-D 106
44
34
98
35
95
C om v o t tr ctfa
, 100
40
N Y N H & H a r tfo r d IIN ew C en tral C o a l ___ 20 x 30
1] S crip 5s 191 4 . . . . F - A
360
1i P r e fe r r e d .................100
71*, 71»«
35
C on d eb 3 4 s 1 95 6. J & J { 1 0 4 4 L06 N J T e r D o ck & I m p . 100
E ig h th A v e n u e s t k ..1 0 0 315
96
G e n 4 s 1 9 3 4 ___ See Stk E x c h , list
98
N o rth ’n S e c u r itie s Stu bs 10U i2 5
N Y B is c u it 6s 1 9 1 1 .M -S 102 4
liS crip 6s 1 9 1 4 ___ F -A
U n ltR y s S a n F ran SeeStk E x ch list
P itts B e s s & L E ......... 50 t 34 4 36 Hi N Y Mtge<fc S e c u r it y . 100 180
190*
T]42d& G r S t F ’ y s t k .. 100 350 400
35
3 9 34 40*2
60
70
P r e f e r r e d .....................50 t 70
W a sh R y & E l C o . . . . 100
45
IIN ew Y o r k D o c k ___ 100
42d S t M <fc S t N A V ..1 0 0
74
80
65
103
P r e f e r r e d ...................100
81
70
I jl s t m o r t 6s 1910 .M -8 ?102
HR a ilro a d S e c u r itie s C o.IfP ref e r r e d ............... 100
79^0 8 0 S
72
3
67
4 s 1 9 5 1 ...................... J -D
4
112d in co m e 6s 1915 J J
I U .C .s tk .tr .c fs .s e r.A ’5S
N Y T r a n s p o r t a t io n ...20
8 3 4 89
28
100
31
S eab oard A ir L in e —
N ile s -B e m -P o n d c o m . 100
119
In te r -M e t—See S to c k E x clia’ ge lis t D'W est C h ica g o St . .. .1 0 0
76
HCon g 5s 19 3 6 ___ M-N
N ip is s in g M i n e s ........
5 t 13% 1 4 4
76
C o l l 5 s e x t M a y ’ 1 1 .M -S
L e x A v & P a v F os See St k E x c list
98
95
96
S ea b oa rd C o ___ See B a lt E x c h lis t
1|Ontario S i l v e r ..........100
44
M e tro p o l s t r e e t R y . 100
54
G a s S e c u r i t ie s
180
36
O tis E le v a to r c o m ___ 100
39
N in th A v e n u e s t o c k .100 160
I n d u s t r ia l a n d IH iscel
NEW YOKK
85
195
P r e f e r r e d ...................100
90
S econ d A v e n u e stocklO O 175
{1
0
0
{1
0
0
>
2
102
102
C en t U n G as 5s g ’27.J<fcJ
P h o e n ix S e c u r itie s .
A h in e e k M in in g ......... 25
too
H is t m ort 5s 1909 M -N
t 4
31 J 32
109
P itts b u r g B r e w in g ___ 50
Con G as (N Y )
See St k E x c h list A llia n c e R e a lt y ..........100 120 130
C on sol 5s 1 9 4 8 ___ F A 8107
165
18I
P r e f e r r e d .....................50
51
IlM utual G a s ............... 100 165
11S ix th A v e n u e s to c k 100 160
A llis C h alm ers C o l s f m
104
N e w A m sterd am G as—
P itts b u r g Coal See Stock E x c h list
S ou B o u le v 5s 1 9 4 5 ..J-J {1 0 0
s f 5s ’ 36 o p t ’ 1 6 .. J - J { 72
76
l->4
105
1st co n s o l 5s 1 9 4 8 ..J-J { 96
P o p e M a n u fa ctu rin g .lO O
So E'er 1st 5s 1 9 1 9 ... A-O {1 0 0
97*a A m e r ic a n B o o k ..........100 155
24
168
50
60
1st p r e f e r r e d ........... 100
N Y & E R G a s 1st 5s’ 44J-J 4101*2 R>3 >2 A m e r ic a n B r a s s ......... l o o
147
T h ird A v e n u e See S to ck F x c li list
150
100
2d p r e f e r r e d . . ....... l o o
10H, 13
T a rr y W P & M 5s 1928 { 96
C o n so l 5s 1 9 4 5 ..........J-J { 98 102
11A m e r ic a n Can See S toc £ EX list
35
98
101
42
P ra tt & W h itn p r e f .. 100
102
N Y & R ic h m o n d G as. 100
iT kersS tR R 5s 1 9 4 0 A -0 i 98
A m e rica n C h icle C o ..1 0 0 175 185
105
102
N o r U n 1st 5s 1 9 2 7 .M -N { 98
P r e f e r r e d ...................100
99
28tli <fc 29tli S ts 1st 5s ’ 96 {1 0 1
102 P u b lic S e r v C orp o f V a —
80
95
400
1st in g 5s J u iy 1936 opt
\JTwenty-Th’ d S t stk 100 360
IjStandard G as c o m ..1 0 0
40
A m G ra p h o p h o c o m .. 100
42
97 4
106
liP re fe r r e d ............... 100 100
P r e f e r r e d ................. 100
U n l o n R y l s t 5 s l 9 4 2 F -A {1 0 0
......
85 R e a lty A s s o c ( B k ly n )lo O 148 L53
105
R oy al B a k P o w d p r e f. 100 101 104
108
W e s tclie s t 1 s t 5s ’ 43 J J {1 0 0
1st 5 s 1 93 0............. M -N { 104
A m e r H a r d w a r e ......... 100 113 4 115
Saf e ty Car H e a t & L t 100 265
265
BROOKLYN
OTHER CITIES
A m M a lt in g 6 s 1 9 14 .J -D 101 104
102
A m e r L ig h t & T r a c t . 100 * 1 0 0
A tla n A v e 6s 1 9 0 9 ..A -O i 99
A m e r P r e s s A s s o c ’ n .1 0 0
90
100 S e n e ca M in in g ........... 26 80 100
S in g e r M fg C o ............. 100 490
510
P r e f e r r e d ...................1001x 90 *» 92
C on 5s g 1 9 3 1 ..........A -O {1(>3
A m Soda F o u n c o m .. 100 . . . . . .
3
99
**
S tan d ard C o r d a g e ___ 100
3 Hj
B ay S tate G a s ............... 50
1st p r e fe rr e d ............. 100 . . . . . . 30
B B & W K 5s 1 9 3 3 ..A -O
7
“b
42*5 49
100
2d p r e fe rr e d ............. 100 . . . . . .
B r o o k ly n C ity s t o c k .. .1 0 195
l s t M . g .5 s . ’ 3 i.r e d .. A .O
B in g h a m to n G as 5s 1938 2 95
5
7
A d ju s t. M. 5s. A p r 1,1931
10
C on 6s See S to c k E x cli list
B ro o k ly n U n io n G as deb
A m S t F o u n d 6s ’ 35 A & O } 93 Hi 95
110
45
99
......
125
Stam iard C o u p le r com lOO
56
A in e rio a n s u r e t y ..........50 187 4 195
B k ln C rosstn 5s 1 9 0 8 . J-J
6s 1909 c o n v ’ 0 7 . . . M -S
6
105
P r e f e r r e d ...................100 115
125
B k n H g t s l s t d s 1941 A -O 100
7
A m e rica n T h rea d p r e f .. 5 r 3 4
B uffalo C ity G as stocklO O
44
6
S tand ard M illin g C o. 100
8
B k ln y C o & S u b See Stk E x eh list
1 s t 5s 1947 See S to c k E x c h list
A m T o b a c (n e w ) c o m lo O 340 360
28
B k ly n R a p T ra n See Stk E x cli list
92
P r e f e r r e d ...................100
32
A m T y p e fo ’ rs c o m . ..1 0 0
39
C on G as o f N J 5 s ’36 J-J { 89
42
180
77
TIConey Is. & B k ly n ..1 0 0 150
80
C o n su m e rs’ L H & P o w —
1st 5s 1 9 3 0 ............. M -N
P r e f e r r e d ...................100
95
100
92
88
529
1st c o n s g 4s 1 9 4 8 ..J-J
5s 19 3 8 ........................ J-D {1 0 2
A m e r W r itin g P a p e r .100
24
2 4 S tand ard O il o f N J ..1 0 0 525
B r k C * N 5s 193 9.J-J lO i
P r e f e r r e d ...................100
E liz a b e th G as L t C o ..1 0 0 275
22 H
i 24 S w ift & C o See B o s to n St » K x c ti’ ga
. . . . . . E s s e x & H u d so n G as 100 118
Gr*pt & L o r im e r St 1st 6s 102
1 s t 5s 1 9 1 0 -1 9 1 4 ...J - J a o j
100*4
122"
1st s f g 5s ’ 19 op '0 9 . J - J
83
84
40
77
K in g s 0 . E l— 4s See S to ck B x ch list
iJTexas & P a cific C oal 100
F o r t W a y n e bs 1 9 2 5 ..J J
45
11B a rn e y & Sm Car . .. 1 0 0
65
81
72
53
N assau K lee p r e f........100
65
75
11P r e fe r r e d ................. 100 « ...... 139
1st 6s 1 9 0 8 ............... A -O a o 4
G as & E i B e r g e n C o .. 100
56
5s 1 9 4 4...................... A-O 104
. . . . . . HG r R a p G 1st 5s ’ 15 F -A {1 0 2
103
flB e th l’m S teel C orp .1 0 0
11 12 T iU e I n s C o o f N Y . . 1 0 0 160 1 7 0 * 1
1st 4 s 19 5 1 ............See St k ExO h list H u d so n C o G a s............100 111
T o n a p a h M in (N e v a d a ). 1 t 1 8 4 1 8 4
^ P r e f e r r e d ............... 100
113
50
14
99
N W b ’ g<fc F la t 1st e x 4 ‘as
T r e n to n P o tte r ie s com lOO
In d ian a N a t <fc 1U G as—
17
B liss C om p a n y c o m ___ 50 130
140
15
S te in w a y 1st 6s 192 2.J-J {1 0 8
92
112
P r e fe r re d n e w ___ 100
1st 08 1 90 8............. M-N
20
P r e f e r r e d .....................50 130
100
134
00
OTHEK CITIES
35
T r o w D ir e c t o r y .........1 0 0
I n d ia n a p o lis G a s ..........50
B o n d & M t g G u a r ___ 100 350 3 / 5
08
45
Buttalo S tr e e t B y —
U n ion C o p p e r .................10 f
1st g 5s 195 2........... A -O { 90
91
B o rd e n ’ s C o n d M ilk .. 100 160
4
170
4
1st c o n so l os 1 9 3 1 ..F -A { 1 0 6 >2 107*-. J a c k s o n G as 5s g ’ 3 7 . A -O { 95
P r e f e r r e d ...................100 108
100
87
111 U n ion T y p e w r c o m ..1 0 0 84
50
D eb 6s 1 9 1 7 ............. a .O {1 0 4
1st p r e fe rr e d ............. 100 115
B ritis h Uol C o p p e r ......... 5 t
K ansas C ity G a s ......... 100
74
120
8
C h ica g o C ity H y
See C h ic a g o list
112
2d
p
r
e
fe
r
r
e
d
.............
100
27
" 9 4 " B u tte C o a litio n M in .. 15
120
1iL*>.ciede G a s ...............l o o
274
102
U n ited B k N o te C o rp . .5 0 I- 54
C olu m b u s (O ) S t R y . . l 0 0 101
2
1j P r e f e r r e d ............... 100 " 9 0 ” 94
C a sein Co o f A m com .. 100
58
5
46
P r e f e r r e d ...................l o o
107 H, 108 >s L a ta y’ e G a s ls t tis’ 24.M .N
P r e fe r re d ................. 50 f 49
70
P r e f e r r e d ...................100
52
51
80
30
85
C ola m B y c o n 5s See Pli da list
IfU n ite d U iga rM fg . ,pf. 100
32
C a su alty Co o f A m e r . 100 130
92
L o g * W a b V l s t 6 s ’ 25.J-D
140
C rosst’ w n l s t 5 s ’ 33.J-D {1 0 0
U n ite d C o p p e r............. 100
10?
C ellu loid C o ...................100 128
M adison G as 6 s 1926. A -O {106*2 n o
6 2 4 62*4
135
G rand R a pid s B y . ...1 0 0 . . . . . . 66
10 15
P r e f e r r e d ...................100
86
132
C en t F ire w o rk s c o m . 100
98
N e w a rk G as 6s 1 9 4 4 .Q-J {IS O
89
P r e f e r r e d ...................100
65
84
87
91
P r e fe r re d ....................100
U . S. C a s u a lty ............. 100 225
N e w a rk C on sol G a s ..1 0 0
75
L a k e St (C h ic) El
see ('. h icago list
30
C en tral F o u n d ry
100
U S E n v e lo p e c o m .. .1 0 0
liC on g 5s 1 9 4 8 ........J-D 105
106
24
3
HP r e fe r r e d ................. 100
liL o u is v ht 5s 1930..J<fcJ {1 0 4 *a 107
97 Hi
P r e f e r r e d ...................100
N o H u d so n L H & P o w —
144 164
U S S teel C o rp o ra tio n —
L y n n & Boo 1 s t 5 s ’ 2 4 .J -D {1 0 5
1 0 7 “-.
69
D e b 6s 19 1 9 op ’ 01M -N
5s 1 9 3 8 ...................... A-O {1 0 2
71
2.Ja4 24 S 1iO& I n d C N a t * IB .100. . . . . . . . . .
C o l t r s f 5 s ’ 5 1 o p t ’ 1 1 . . { 1 0 8 4 110
11N e w O rl K ys & L gt. 100
C e n tu ry R e a lt y ..........100 185
195
28
C ol tr s f 5 s ’ 5 1 u o t o p t .. *1 0 8 4 110
11 P r e f e r r e d ............... 100 x 70 *2 71
C h eseb rou g h M fg Co 100 400
430
1st 6 s 1 9 2 6 ...............J -D
65
HGen M g 4 lus ’35 See S tk K x list Pat <fe P as G as & EleclOO
95
U S T i t Gu<ft I n d e m .1 0 0 100
70
C ity In v e s tin g C o ___ 100
98
N o r t h C h ic S tre e t See C h ica g o lis t
H Utah C o p p e r Co. See S tk E x l i s t
102
1|Claliin (H B ) c o m ___ 100 100 107
1j C on g 5s 19 4 9 ___ M -S { 98
85
95
P u b S e r v Corp o f N J 100
W a te r b u r y CO, c o m .. 100
1] 1st p r e fe r r e d ......... 100
90
95
St J o s e p h Gas 5s 1937. J J t ......... 85
4 3 4 444
65
66
...... P r e fe r r e d ...................100
T r c t fs 2 % to 0% p ern ct
1I2d p r e fe r r e d ............100
93
102
E l e c t r ic C o m p a n ie s
94
C oll 5s k n o te s ’ 09 M -N { 9.i
W e s t c h e s te r & B r o n x
74
*76
C o l& H o c k C o a l & lp f 100
40
50
C h ic a g o E d iso n C o See C h icago list
T it le & M o r t G u a r . 100 1 6 7 4 1724
N o rth J e rse y S t B y 10(i
1st g 5s 1 9 1 7 ......... J -J { * 2 4 85
123
72 II.K inirsC o El L A P Co 100
1st 4s 1 9 4 8 ......... M-N { 70
128
3 4 l4 3 4 4
C ol tr 6s O ct 1 9 5 6 ..J-J
97
1 0 1 4 W e s t e r n I c e .................100
98
W e stin g h .A ir B r a k e ..5 0 146
C on s T r a c o f N J . .. 1 0 0
72 S* 74 | N a rra g a n (P ro v ) El C o 50 t
C o n so lid Car H e a tin g 100
44
46
60
1st 5s 1 9 3 3 ........... J -l) <103 * 104
N V * Q E l L & P o w C o lO O
70
C on s R y L tg& R e l'rig.lO O
34
4 4 II W e s t E l & M fg — 5s See S tk E x lis t
P r e f e r r e d ...................100
70
N e w ’ k P a s B y 5 s ’ 30J-J } 106
80
W h ite K n o b M in ......... 10
C on sol R u b b e r T i r e .. 100
0
4 Hi
4
60
B a pid T ran S t B y . .1 0 0 235
O’ u it e d E le c t r ic o t N J 100
70
P r e f e r r e d ...................100
20 25
P r e fe r re d ...................... 10
A
24
48 1949 ...................... J -D { 69*2 71
W o r th iu g P u m p p r e f. 100 115 119
1st Os 1 92 1........... A-O {1 0 5
D e b e n tu re 4s 1951 A & O
37
40
.........
f
{ B u y e r p ays a c c r ’d int. t P r ic e per sh. tS a le price. a E x -r i^ h ts -tE x -d iv . i X e w s t o c * . '[S e lls on S i ’ fc E x c h ., b u t uot a v e r y actiT e s e c u r ity .

V o l u m e of B u s in e s s a t S t u j k




B xoaau^es

Bid

75
130
113
75
45

ASH.

SO
138

BOSTON STOCK EXOH&TOE—Stock Record, Daily, Weekly and Yearly
S h a r e P r i c e s —S o t P e r C e n tu m P r i c e s
S a tu r d a y
A p ril 20

M onday
A p r i l 22

T u esd a y
A p r i l 23

W ed n esd a y
A p r i l 24

T h u r sd a y
A p r i l 25

F r id a y
A p r i l 26

S T O C it S
BO ST O N STOC K
EXCH ANGE

S a le
th e
Week
Share
0)

H a n g e f o r Y ear
1907
L ow est

R an ge to r J^reviom
Y ea r (1 9 0 6 J

H ig h es t

Low est

H ig h es t

(

R a ilr o a d s
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95% 953, * 9 5 4 953
9 5 4 95i.
9 5 i A t c h T o p <fc San ta F e l 0 (
27( 83% M a r l 110 7 4 J a n 7 8 0 4 J ’ly 1 1 0 4 Sep
9 5 4 95\
95l
D o p r e t ............. 10< .
* 9 5 ^ 96^ *95*2 901- * 9 5 4 90*. * 9 5 4 90*L a s t S a I .964
A p r ’0 r
92% M ar2 101% Jan 8 z97 % Dec 105 4 J a a
........
B o sto n <fc A l b a n y ... .101
•235
236 237
235 235
236 237
235 235
15 225 Jan 1. 240 F e b 7 239 Dec 2 5 7 4 Feh
235
236
10(
142 14 2 *• 142
142 >2 142 *< *142 144
1 4 1 4 143
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55. 140 M a r / a52 Jan
142*. B o sto n E le v a te d
147 Aut 100 Jan
B oston & L o w e ll.
•222 ........
225 225
222 225
101
*223 225
*223 225
5f 222 A p r i l 231 Jan 7 230 Dec 2 4 0 4 A p i
223
223
1 0 4 ‘, 165
1634164
1604164
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I0 (
161 161
1614163
04 152 M arl4 165 A p r 20 160 D ec 1 8 0 4 A p i
162
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B o p r e f ............... .IOC
100 160 *160 102 *• *160 “2 162 *. *160 163
‘ 160 162*<
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16
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L a s t S a il 12
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Do iir e t........... .
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63 Jan 75 F e b
2534 2 5 3,
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72
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D o p r e f ...............
73
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148 143
31 145 A p r lb it)0 J a n 17 156 O ct 182 J a n
145
145
116 115
D o p r e f............... .101
111 111
112 112
13 L10 A p r fc 120 J a n 2 d7 H i J ’ly 127 Jan
Oon
M o n t Olaas d 101
184*4 184 4
184 ^4 A p r2£ 1.8S F e b l i *8734 K ot 190 M ai
sue 1 j .5 6 M a r l l 153 O ct 163 A p r
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. . . . . . 15 0
M a r’ 07 Ootiti & Paaa R iT n r flfl 0(
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k m n e cticu t R i v e r .. .10<
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D o p r e f ............... lo t
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M a r’O /
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1 9 7 4 F e b l t 198 J a n l* 197 Mai •>00 Deo
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1 01
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L a s t S a l e 52
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56 J an 2 j 57 Jau 18 50 J an 65 Oct»
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»
4J
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90
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90 M a r io 94 J a n 21 65 J aL 99 O ct
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* 9 6 ” 97
97
97
' 9 7 " 97
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97
* 9 6 " 97
D o p r e f ............... 100
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96
136 4 1 3 7
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*80*2 87 4 * 3 7 4 88-2 *86
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W e s t E n d S t.............
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89
•106
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105 105
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105
do
p r e f ............... 60
105 *2
L a s t s a l e 147
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J a u ’ 07 W o ic N asti & R o c h . .lo w
itlis cc lla n e o u s
20
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A m er A s r i c ii i O hem 100
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83 ‘ 88*’
88
88
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88
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D o p r e l__ . . . . . . 100
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8
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125 125
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125% A m e r S u g a r R e i i n ... 100
•125 . . . . . . 1 2 5 78 120
125 1 2 5 4 126 126
125 12>
D o p r e f ............... 100
113 120 M ar26 1 3 1 34 J a n I f 130 D ec 141 Jan
124 4
120
123 123 4 123 123 Hi 123 12334 123 412434 124 4 125
A m er T e le p & TfeleK.lOO 2,731 115 4 M ar 2 6 1 3 4 2 Jau 2 128 J ’ly 144% J a n
1244
125
30
30
* 2 9 4 30
- 2 J 4 30
30
A m e r W o o le n ........... 100
*29 4 30
15 25 M a r lS 3 0 4 J a n 7 28 N ov 4 7 j4 j an
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30
96*4 9 7 4
96
96
95
9 6 4 97
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do
p r e f ............... 100
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• 95
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3 34 Jan
34
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3 M ar J8
34
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3% B o sto n L a n d .............
•107
108
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240 107 M arJ2 115 J a n 10 115 J ’ly 118% M ar
1 0 7 4 1 0 7 4 107 107
*..........107*2
107*2 C u m b e rl T e le p & T e l 100
L a s t S a l e iO
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7 M ar 7
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7'*4 Kast B o s to n L a n d
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210 211
2 L3 215
213
E d ison E le c I li u m .. 100
S73 20J A p r l^ 230 J a n 7 225 D ec 250 J a n
214
149 149 4 148% 1483, 147
115 139% M ar25 102 Jan 2> 157 D ec 184 O ct
14738 14738 1 4 8 4 1 4 8 4 150 150
t>eneral E le c t r ic ___ lOu
117
61
61
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62
63 4
62
624
63
44 Maj 04% j ’ na
62 4 62 4
03% Alass’ ctiusettsiciasCoslO O 8,183 64 4 M ar26 66% J a n 1
85% 85%
8 5 34 8534
85 4 85 4
85 4 86
85% 8 6 4
86 4
D o p r e f . . ............ 100 3,104 80 M ar26 86 4 A p r ai. 84 4 D ec 90 Sep
80*2
•212 215
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215 215
215 215
*210 212
*210
104 199 Jan 2 216 M ar 1 190 M ai 210 D eo
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......
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24
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*
*_____ 65
*.......... 65
55
*.......... 65
60
* ......... 55
5 5U A p r 26 58 F e b 14 27 M ai 00 N o v
60* N E C o tto n i f a r n ___ 100
♦
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88
88
88
88
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83 %o7 J a n 30 90 J a n l *
80 Mai 90 4 N ot
•119 .........
120 120 4 1 20 120
120 120
120 120
120
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1674168
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168 169
169
169
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f u ll m a n C o ................... 100
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170
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9%
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9%
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106 106
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106 106
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106
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100% S w ift & C o ................... lot)
21
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1114
112% U n ite d I ’ r u lt ............... 100 1,848 103% M a r ll 113 A p r 2 5 1 0 3 4 May 11334 M ay
64
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D o p r e f ................. 25
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37% 38%
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37% 37 4
37 4 38
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lo o
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D o p r e t ................. 100 1,029 9 2 4 M ar25 10734 J an 7 99 J ’Ur 1 1 3 4 F eb
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7
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5ty
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334
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3% A d v e n tu r e C o n ............ 25
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100 45 M ar^5 7 4 4 Jan 14 3 1 4 J ’ly 55 4 D ec
6 1 4 51 “2 * 5 1 4 _____ * 5 1 4 52
514
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96
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62%
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6
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1 *2 J a n 9 •90 Sep
L a s t S a l e ■81
A p r ’ 07 A s li B e d ........................ 2a _____ •30 M ar21
1% J ’ly
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1 3 4 A t l a n t i c ........................ 25 1,685 1 2 4 A p r 15 22 F e b 2 t
10
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lo
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“ 2 7 4 27%
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28% 28% *28% 23%
20% Mai 35% O ct
28%
’ *29*4 B ostonC onC<feQ (rct8) £ 1 6,935 v:0 4 M a r 2 6 3 3 4 Jan f
26% 27%
26
26
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26
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264
26
26%
42 O ct
2 / 4 Buitte C o a li t io n ......... 15 8,322 2t>4 M ar20 3 0 4 J a n 7 25 J ’l j
160
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160
166
164
165 166
165
165 4 1 6 5 4 106
170
ja k u n e t <fc A r i z ......... 10 2,036 148 M ar 15 198 F e b 8 107 J ’lj 184 D eo
840 840
835 845
84 5 845
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850 850
850
C a lu m et <fc H e c la ___ 25
96 800 A p r tS 1000 F e b l t ;7 5 Mat J00 D eo
800
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30
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♦30
17 4 J ’ly 40 4 D eo
30
3J
............... 25 1,095 27 4 A p r 15 47 F e b 1
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31 C e n te n n ia l
• •87" •38
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•37
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U aiy. W e s t ................... 20
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1734
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17% F r a n k lin ........................ 25
174
607 16 A p r 15 2 9 4 M ar 1 14 4 Ma\ 2 6 4 Sep
•..........130
132 132
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1 6 4 10 4
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L a s t S a l e 334
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7 *8 Jan
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%
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15
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* 1 4 4 15
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'1 4 %
85
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800
11 Jau 23% O ct
1 4 4 14*2 *14 4 14*2
6
X e v a d a C o n so lid a te d
83
87
80
87 34
85 \ 86 *2
853, 8 6 4
85% 80*4
86%
**8*7*' X o r th B u t t e ................. 15 7,967 72 M ar26 12o Jan 6 74% Ma 117 4 O ct
*1
I
1 M arl 4
2 4 Ja n 4 70 J ’ l}
2 4 D eo
14
14
650
* 1 4 .........
* 1 4 .........
*1*4 . . . . . . Old C o lo n y ................... 25
*1% ____
54
65 *2
64%
634 534
63 7s 65 -j
533, 54 *«
33 J ’ly 0034 O ct
J ld D o m in io n ............. 25 6,402 36 M ar26 03 F e b . ,
6 4 4 55
65
‘ 134 136
135 138
140 140
140 140
93 M ai 151 D eo
379 115 M a r26 181 F eb 2.
•135 139
*135
139
O s c e o la ........ ................. 25
22%
2234 2234 *21% 2 2 4
i 2 34 J ’ ly 48 Jan
22
22% 22%
200 1934 Mai 26 35 J a n U
* 2 1 4 2 1 34
22% P a rrott (Silv<fc C op p) 10
22%
*1%
*1%
1^
1*2
<60 Ma:
2% D eo
1 Jan 5 t3 Jau2<
14
14
425
14
I 3,
2
Phoenix C o n s o l............ 25
* i%
1%
2
121
122
122 122
118 116
80 J ’ly ■14 Jan
121 121
121 121
121
019 103 M ar25 148 F # b t
122
^ u r n c y ............................ 25
6
6
5%
6
9 4 D eo
5 7b
5 4 A p r 12 12% Jan 15
*5%
5 34
6
6*4
5*4
R h ode I s la n d ............... 25 1,197
3 4 J ’ ly
&%
0
*3
3-2
3%
7 4 Jan t
34
5% N ot
3 >4
34
3%
3%
334 Santa F e (G o ld & C op ) 10
910
3 M ar27
1 4 J ’ly
3%
3%
3*4
173, i a
534 Jan
17% 17%
I® % N ot
1 7 4 17*2
17»4 18
17-4
17% 17*4
17% S h a n n o n ........................ 10 3,530 14 J4 M ar 26 24% Jan 17
90 J ’ n. 22 j an
•106 108
109 109
108 110
* lt8
110
>105 110
25
67 100 M a r -6 170 J a n l4
‘\fnr’ll7 L 'en n eesee.. . . . . . . . . . . 2^
40 M a' 52 Jan
L a st S a le
*9 4 M ar29 5 j 12 J an t
2034 2 0 34
22
7% J’n* 21*4 D ec
21
21% 2 2 4
2 1 34 21%
25 3*4*35 14% M ar26 42 4 J a n 24
2 1 4 21%
214
21%
62
0 l a4 6 1 78
62
02
62
7 8 F eb
62
00% 02
6 1 4 6 i%
02*2 U n ited C o p p e r........... 100 2,935 5J M ar2b 7 7 4 M ar 7 5 7 4 M m
88 Jau
89
89
Do
p r e f . . . . . . . . . 100
11 F eb
200 67 M a rlS 89 A p r 2 ‘.
9 4 Sep
•Y6' 1 0 4 1 0 4 1 0 4 l o
10
10% U n it S tates C oal & Oil 25
14% M ar
10% 10%
800
10*4 10*1
9 4 M a r i 5 13 4 Jan 22
10 4
54
64 >2
65
54
6 4 4 55
54
63 4 6 3 4
64% U S S m elt R e f.& M in . 50 4,250 50 M ar 14 70 Jan 2 51 Mai 60 Jan
544 544
44
43 Ma
44
44
444
41
4 4 34
47 % * e p
4334 44
50 2,140 41 % M a r . i 49 Jan
44 4
D o p r e f ......... —
44 4 45
44*2
02
62%
6 1 % 6 i 78
62 >2 63
62% 02%
62%
02% Jtah C on solid a ted ..
5 4,014 61 M a r l4 79 Jan 14 52 4 , J’ nt 09% Jau
6 2 4 02*2
8
5% Xu
8
8*4
734
84
7%
*8
8*4
6 M ar 15 HSg fret)27
* 4 Mar
84
84
84
8 4 V i c t o r i a ....................... 25 1,540
2 >2
3 4 M ar t •60 Jan
24
* 1 Si
2S
*14
2 Jan 3
*14
2 4 L a st S a le 94
2 4 D eo
*14
M ar 07 W a s h in g t o n ................. 25 . .
9
4 J ’ ly 13 4 O ct
84
H
84
84
*84
9
7 4 M arl 4 14 J a n 2 i;
84
*8 .........
8
25
260
-8 4
155 155
169 100
160 160
100 100
>155 160
160
90 D e o
70 .50 A p r 15 198 F e b 11 .31 Jai
100
25
3% Jan 22 •70 J ’ lj
*14
14
'1 4
14
14
14
200,
1 4 M a r.'7
2% D eo
14
*14
*1*4
14
1 4 W y a n d o t........................ 25
*14
c B e fo r e p a y ’t o fa s s e a s ’ ts c il l e d i n 1907.




* B id a a d a a k e d pr .003; n j sa,lea m idd o a tlna day.

9 . 'f u j

t A iV ip .u l.

*

a r i * - liv . Jc r ig h ts

Boston Bond Eecord.

A p r . 27 1907.]
BOND8

kxa B e ll T ele p h o n e 4 s ___ 19 0 ?
Il k T a ia p
X e e l l tr 4s. 1 M $
W r it P » p e r l * t g f 6 s g 1919
i t c h A N e b ra s k a 1st 7 s . .1 9 0 8
A.teh T od A 8 F e g e n g 4 s .. 19 9 6
A d ju s tm e n t g 4 s ___ J ’ly 1996
B o sto n E le c t L ig h t 1st 6s . 1908
C on sol 5 s ............................ 1924
B o sto n A L o w e ll 4 s ............1907
4 s............................................ 1916
B o s to n A M a in e 4 % s..........1944
B oston T e rm in a l 1st 3*28.1947
B u r A M o R i v e x 6 s ........... 1918
N o n -e x e m p t 6 s .................1918
S in k in g fu n d 4 s ............... 1910
B u tte A B o sto n 1st 6 s ___ 1917
O edar R a p A M o R 1st 7 s . 1916
2d 7 s ..................................... 1909
C en t V e r m t 1st g 4 s ..M a y l 9 2 0
0 B A Q Io w a D iv 1st 5 s . 1919
I o w a D iv 1st 4 s ............... 1919;
D e b e n tu re 5 s .....................1913
D e n v e r E x te n 4 s ............. 1922
N e b ra sk a E x te n 4 s ........1927
£ < & S W s l 4 s ...................1921
I llin o is D i v 3 % s ............... 1949
J o in t bond s See G t N o rth e r n
O hio J o R y A S tk Y d s 5s .1 9 1 5
C oll tru st re fu n d in g g 4 s l9 4 0
Ch M il A S t P D u b D 6 s ..1 9 2 0
Oh M A S t P W is V d iv 6 s l9 2 0
C h ic A N o M ic h 1st g u 5 s . 1931
C h ic A W M ich g e n 5 s ___ 1921
C o n co r d A M o n t c o n s 4 s . .1 9 2 0
C on n & P a ss R 1st g 4 s . .. 1943
C u rr e n t R iv e r 1st 5 s ..........1927
D e t Gt R a p A W 1st 4 s . . . 1946
D om in ion Coal 1st s f 5 s .. 1940
F ito h b u r g 5 s .........................19Of
4 s ...........................................1915
4 s ...........................................1927
F r e m t E lk A M o V 1st 6 s .. 1933
U n sta m p ed 1st 6 s ........... 1933
CJJ N o r C B A Q c o ll tr 4s 1921
R e g is t e r e d 4 s .....................1921

Mange
S ince
Ja n u a ry 1

W eek’ s
R a n ge or
L a st Sale

P r ic e
F r id a y
A p r il 26

B O STO N STOC K E X C E ’ C E
W k s k K n d ik o APKIL 26

L fw H xgh
96% 9S*4
82% 901*
U82 1f82

Bid
A s k Lora
H ig h
US Sale
*7%
98
SS% Sale
S3 %
84%
82 A p r ’07
04 M a r’06
M-S
AO
98*4 8ale
98%
98’.
N ot
91
93
90 78 A p r ’07
M -S
110 F e b ’04
M-S
J-D
104% A p r ’ OO
101 Sep ’ 06
J -J
114 M a r’ 06
J -J
F-A
112% Jan ’ 03
1 0 6 1* 100*4
J -J 106
102 Sep ’ 05
J -J
J -J *97*
99% O ct ’06
100 J ’n e ’ 01
A-O
M-N
123 V N o v ’ 08
J-D
111% J ’l y ’05
84
84
8 4 ........
Q- F
109 M ay’05
A-O
A-O " 9 8 ” * 9 9 ' 1 0 0 % F e b ’07
M-N ..........100* 102% J ’ l y ’06
F-A
9S%
93 S
9 8 * 2 ........
1027* J ’ n e ’06
M-N
M-S
9 8 14 D e c ’ 06
90 % Sale
J -J
90*4
90*4
J -J

J -J
J -J

J -J
A-O
J -J
J -J
M-N
J-D
J-D
A-O
A-O
A-O
M-N
M-N
M-S
M-S
A-O
A-O
J -J
Q-J

?

*98% iioi%
90% 92

106*4 107%

83

i'o’6 % i ’o’6%
98

99s,

9 0 % "91%

100

101
101
95 F e lj’ 07
122 A p r ’ OO
126 F e b ’05
100 F e b ’ 07
.......... 97
101 102
101
101
99 M a r’07
.12 *4 -JHi) ’ 03
104 N o v ’ 06
..................... I 89 M a r'07
..................... j l o o Jan ’07
..................... I 98 A p r ’07
..................... 110:s% A p r ’ 06
..................... 1100% O ct ’ 06
1343j N o v ’ uO
140 A p r ’ 05
94 %
94 *-2
9 4 % Sale
92% A p r ’ OY
101

90

102
95

102%

9 4%
100

95
100

1 0 0 % 1 0 ‘J

99

99

89
100
98

90
100
98

88*4
92%

97%
96

9 * 9

BONUS
B O S T O N S T O C K E I C H 'G E
W kk k E n din g A p e i l 28
Illin o is Steel d e b e n 5 s . . ..1 9 1 0 J - J
N o n -c o n v e rt de b e n 5 s . ..1 9 1 3 A-O
l a F a lls A S io u x C l « t 7 s . . l 9 1 7 A -O
K a n C C lin A S pr 1st 5 s ...1 9 2 5 A -O
K a n C F t S A G u lf 1st 7 s .. 1908 J-D
K a n C F t S c o tt & M 6 s . . ..1 9 2 8 M-N
K an C M A B g e n 4 s ........... 1934 M- S
A s s e n te d in c o m e 5 s ........1934 M-S
K a n C A M R y A B r 1 st 5 s l9 2 9 A -O
K a n C S t J o A C B 1st 7 s . .1 9 0 7 J -J
M ain e C en t c o n s 1st 7 s . . .1 9 1 2 A-O
C on s 1st 4 s ........................ 1912 A-O
M ara H o u g h A O nt 1st 6s. 1925 A-O
M e x ica n C en tral c o n s 4 s .. 1911 J - J
ls t c o n s in c 3 s ............Jan 1939 J ’ly
2d c o n s in c 3 s ........... Jan 1939 .F ly
M ich T e l e p l s t 5 s .................1917 J - J
M in n e G en E le c co n g 5s 1929 J -J
N e w E n g C ot Y arn 5 s ___ 1929 F-A
N e w E n g T e le p h 6s ............1907 A-O
6 s .......................................... 1908 A-O
5 s ...........................................1915 A -O
N e w E m i a n d c o n s g 5 s ... 1945 J - J
B o s to n T e r m 1st 4 s ........1939 A-O
Old C o lo n y gold 4 s ............. 1924 F-A
O reg R y A N a v con g 4 s . . 1946 J-D
O re g Sli L in e 1st g 6s ........1922 F-A
R e p u b V a lle y 1st s f 6 s . ..1 9 1 9 J - J
R u tland 1st c o n g e n 4 % s. 1941 J -J
R u tland -C anadian 1st 4s 1949 J -J
S av annah Klee l s t c o n s 5 s .l 952 J - J
S eattle E le c 1st g 5 s ..........1930 F-A
i/e rre H a u te E ie c n o s ___ 1929 J -J
X o rrin g to n 1st g 5 s ........... 1918 M-S
U n ion P a c R R A l g r g 4 s . l 9 4 7 J -J
1st lien c o n v 4 s . ............... 1911 M-N
U n ited F r u it co n v g e n 5 s . 1911 M-S
U S Steel C orp 10-60 y r 5 s .1963 M-N
W est E n d S tr e e t R y 4 s ___ 1915 F-A
G old 4 % s ..............................1914 M-S
G old d e b e n tu re 4 s ........... 1916 M-N
G old 4 s ................................. 1917 F-A
W e s te rn T e le p h A T e l 5s. 1932 J -J
W isc o n s in C e n t 1 st g e n 4 s l9 4 9 J - J
W isc o n s in V a lle y 1st 7 s . . 1909 J -J

N o t e —B u y er p ay s a c c r u e d in te re s t in a d d itio n to th e p u rch a se p r ice fo r all B o sto n Bonds.

W eek 's
R a n ge or
L a st Sale

P r ic e
F r id a y
A p r il 26

R a n g* ;
Sin ce <
Jan u ary 1

High.
A s k Low
10 0 ”* O ct ’06
99%
99*5
122% N o v ’ 06
" " " *9*9 * 98
102% N o v ’ 06
i i * 6 % * ." " I 116% 117
94% D e c ’ 06
92 M a r’ 07
. 95
101
100 A p r ’ 07
100% Sep ’06
113% N o v ’ 06
101% Sep ’ 05
118 M ay’ 04
8 4 34 F e b ’ 07
81
83
26% <">Ct ’ 06
1734 A u g ’ 05

B id

Low

97

102%
97
99%
100
100%

98

H ig h

« a " 100*2

*99** 1*00**

*9*8** 98«*
114** 1 2 0 **:
92

92

100

101

84

A u g ’ 04
97
Jan ’ 07
M a r’ 07
Jan ’ 07

85%

96% 100%
99% 9 9 %
99% 100

I00% 100%

101% S e p ’ 06
«0 2 % Jail ’ 05
1112138 M a r’ 06
103 J a n ’ 07
107% N o v ’ 05

102 Mai’02

112*4 113
98

100

102 Sale
9S 100
98
100
9 2 % ........

9 8 % M ay’06
101% 101»4
97
97
9 9% N o v ’ 06
100% F e b ’ 07
150% A p r ’ 06
11234 1 1234
1199% i;99%
100 % Jan ’ 07

100%1J102
107
94

1 1234
1J99 %

102

102

102

101% 105
97
97 3

100% 100%

102

1023s J an '06
100% J a n ’ 07
92%
92%
1194% Sep ’ 05
109% A u g ’ 05

' N o p r ic e F r id a y ; la te s t bid an d asked.

100% 100%
91%

99

II F la t price.

Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Y early
S h a re Prices— Not P er Centum Prices
S a tu rd a y
A p r i l 20

M onday
A p ril 2 t

90
19
*12*8 13*4
*49^4 50
38
•37
10
10
*5
26 **2*6"
1 2 *i
*12
86
86
63% 64
1%
1%
62% 62*4
•44
45
8% 8 laie
18 •»
18
6213 i 6 53*18
*42
42 s
43
43
51)
69
91%
91
*27%

•12*4 13

38
10

38%
10

*12
86
64%

12*2
88
65%

62%
44%
8 34
18
63%
*4.j
‘ 42
58%
91%

63eie
44%
8i8le
18 *6
55*8
43
43
5 8 7t.
92*4

T u etd a v
A p r i l 23

90%

90 *3 91
......... 19

91
*16

91
19

13

13

*12*4 13%

‘ 12%

13*4

50
38

50
38

10

10%

*12
88
65

12%
fe9 *s
65%

6 3 l i« 63%
•44s, 45
83< 3*4
1 8 * 19%
5 4i31655l3le
•42
43
*41
41%
6 S7e 59%
91 % 92%

49*4 4 9 34
33
38 %

10

10%

*5
24
11*4
88%
65%
1%
63
*44%
8%
19%
S S iio
*42
*41
59%
92

25
12
39
66
1%
63%
45
81316
21%
06%
43
41%
59%
92%

tr id a tt
A p r i l 26

B a ltim o re
Con. G as E l. L . A P o w .1 0 0
*30
33
•80
81
D o p r e f.....................100
9 1 % 91% N o rth e rn C e n tr a l.......... 50
......... ...19
se a b o a rd (n e w )............... 100
D o 2d p r e f ............. 100
......... ...37
*13% 13% U nited R y A E l e c t r ic .. 50

4934 4934
38
38 %
10 % 1 0 %

10%
87%
65%
1%
62%
•44%
20%
54%
43
*41
59%
92

11 %
88
65%
Is
63%
45
8%
21%
56*4
43
41%
59*4
92%

P H IL A D E L P H IA

P H IL A D E L P H IA

42
9 .'34
51%
47*4
73%

63

21%

6 0 j4
"9 0 "

45
” 93*

17 S
2*4*8*'
" 8*

U E x -rig h ts .

•49%
38%
10
5
25
•10%
88%
65 %
•1%
63%
•4 4 s,
8%
21%
65%
•41%
•41
59%
92%
*20

50
40
10%
5
25
.11
89 %
65*4
1%
63%
45
8 16ie
23
56
42
41%
60
94
30

B id

B on ds
A l V a l E e x t 7s 1910 A -O
A l t A L V E le c 4 %s’ 3 3 .F -A
A m R y s c o n v 5s 1 9 1 1 .J -D
51% A tl C ity 1st 5s g ’ 1 9 .M -N
B a lls T e r 1st 5s 1 9 2 6 .J-D
B e r g A E B r w 1st 6s’ 21 J-J
B e th le S te e l 6s 1 9 9 8 .Q -F
C h o c A M e 1 st o s 1949 J-J
Ch O k A G g e n 5s ’ 19 J -J
C ol S t R y 1st c o n 5s 1932
C o n T r a c o f N J 1st 5 s .’ 33
E A A 1st M 5s 1920 M -N
E le c A P e o T r stk tr ctfs
Eq, II G as-L 1st g 5s 1928
H A B T o p c o n 5s ’25 A-O
In d ia n a p o lis R y 48.1933
In te r s ta te 4s 1943 ..F - A
L e h ig h N a v 4% s ’ 14.Q-J
R R s 4s g ........1 9 1 4 .U-F
Glen M 4% s g ,1 9 2 4 .U -F
L eh V C 1st 5s g ’ 3 3 . . J-J
15% L e h V e x t 4s 1st 194 8. J-D
2d 7s 1 9 1 0 .................M -S
C o n so l 6s 1 9 2 3 ........J-D
""is A n n u ity 6 s ............... J-D
G e n c o n s 4s 2 0 0 3 . M -N
L eh V T ra n c o n 4s '33J-D
ib'6% N e w C o n G a s 5 s 1948 J-D
N e w a rk P a ss c o n 5s 1930
N Y P h A N o 1st 4s ’ 39 J-J
I n c o m e 4s 1 9 3 9 ...M -N
”4 5 %
N o O h io T r a c co n 5 s ’ 19.J-J
" 9 4 % P e n n g e n 6s r 1 9 1 0 ..V a r
C on sol 5s r 1 9 1 9 ...V a r
P en n A M d S teel c o n 6s.
P a A N Y Can o s ’39. A O
C on 4s 19 3 9 ............. A-O
1 7 7t P e n n S teel 1 st 5 s ’ 17 M -N
P e o p le ’ s T r t r ce r ts 4s ’ 43
P C o l s t A c o l t r 6 s ’ 49 M S
C o n A co l tr 6s 1951.V1-N
8% P h il E le c g o ld tru st c tfs .
T r u s t c e r tifs 4 s ...............
54%
P A E g e n M 0 g ’ 2 0 . A -O
G en M 4s g 1 9 2 0 .. A A O

* B id and ask ed p r ice s ; n o sales on Una day.




T h u rsd a y
A p r i l 25

90%

*5 ............

I n a c t iv e S t o c k s
A lle g h e n y V a l p r e f ___ 5C
A m e r ic a n C em en t........50
A m e r G as o f N J ........100
B e ll T e le p h o n e ............. 50
C a m b ria I r o n .................50
C en tral C oal A C o k e . 100
C o n s o lT r a c o t N J .. . 1 0 0
D iam on d S tate S t e e l.. 10
P r e f e r r e d .....................10
E a ston C on E le c t r ic 6.50
K lee S tora g e B a tt___ 100
P r e f e r r e d ...................100
F t W a y n e A W V ........100
G erm a n tow n P a s s ........50
In d ia n a p olis S t ........... 100
I n d ia n a U nion T r ___ 100
In s u r a n c e Co o f N A . . 10
I n t e r Sm P o w A C liem .50
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d .....................60
K e y s to n e W atch C a se. 100
L it B r o t h e r s ...................10
L ittle S c h u y lk ill........... 60
M in ehU l A S c h u y l H ..5 0
N H a v e n Ir o n A S t e e l.5
N o rth e r n C e n tr a l......... 60
N o rth P e n n s y lv a n ia ..50
P e n n s y lv a n ia S a lt........50
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ...................100
P h ila Co (P itts ) p r e f .. . 60
P h il G erm an A N o r r is .50
P h ila T r a c tio n ...............50
R a ilw a y s G e n e r a l........10
S u sq u eh I r o n A S t e e l ..6
T id e w a te r S t e e l........... 10
P r e f e r r e d .....................10
T on op a h M in in g o f N e v l
U n io n T r of I n d ......... 100
U n ite d N J R R A C .. 100
U n it T r a c P itts p r e f ..6 0
W a r w ic k Ir o n A S t e e l.10
W e s t J e r s e y A S e a S li.5 0
W e s tm o re la n d C o a l....5 0
W ilk e s G as A E l e c . .1 0 0

W ednesday
A p r i l 24

ioi*

98
101%

119%
104%
105%
"9 4 v

110

63 S

110%

1*0*734
150
93
66*i
io 7 %

105

101%
98*2
106
10214 102%
99% 100
70
70%
120
121*2

U$7.50 paid,

*2*0*3

B id

A sk

103

63 %
102%

385

P h iladelphia
43
A m erica n R a il w a y s .... 50
C am bria S t e e l ................. 50 8,614
E le c t r ic Co of A m e r ic a 10 3,110
194
G e n A s p h a lt tr c t fs . .. .1 0 0
590
D o p r e f tr c t f s ___ 100
Lake S u p e rio r C o r p ___ 100
675
Lienigli 0 A N a v tr c tfs . 50 2,650
b e h ig h V a lle y ................. 50 6,872
40U
M arsd en C o ...................... 100
P e n n s y lv a n ia R R .......... 50 1,577
90
P h ila d e lp ’ aC o ( P i t t s b ) . 50
Ph iladelphia E l e c t n c t . 25 8,670
P h ila R a p id T r a n s i t c .. 50 68,635
R e a d in g ............................ 50 72,477
12
D o 1st p r e f ............. 50
7
D o 2 d p i e f ............... 50
U n ion T r a c t o n ............... 50 3,010
U n ited G as I m p t ............ 50 16,105
W e lsb a ch C o ............•___ 100

107

R a n ge t o r Y ear
1907

Sales
of t/u
W eek
Shares

A C T IV E S T O C K S
( F o r B o n d s an d I n a c tiv e
Stocks see b elo w )

H ig h es t
33 % J an 15
80% A p r 1
86 M ar 14
19% F e b 25
35 M ar 15
10 % M ar 12

t $15 panl.

* $10 paid,

D ec 41 J ’n e
O ct 90 J’ na
J 'ly 111% D eo
D ec 32 Jan
D ec 6 2 % .Ian
D ec 19 J a n

A sk

B A L T IM O R E

i b i s
y5 *2

105
83
84

108
85
86
103

1 0 2 *2

35%
80
97
22
48
13

H igh est

51 J a n 2 5 0 34 Sep
47 % J an 24 30% Jan
11% Jan 14 11 May
6 N ov
8 Jan 25
36 J a n 25 31 D ec
16 Jan 8 1 4 % N o v
103 J a n 7 LOO D ec
7 8 % J a n 5 65 May
2 % J a n 7 i7le O ct
TOUje J an 8 61% J 'ly
48 * Jan 4 47 A p r
6% D ec
9 Apr 4
24 J a n 22 c l 9% D ec
69% Jan 7 56% Maj
4 5 % Jan 14‘ 4 3 % A p r
47 Jan 14 44% May
60% Jan 22 5 3 % Dec
9 6 % Jan 5 8 1 % May
30 F e b 18 25 D ec

i o i "

94

Jan 9
Jan 10
J a n 26
Jan 7
Jan 7
A p r 10

L ow est

48% A p r 1
32'<4 M a r l4
8% M a r 21
6 Apr 9
20 M arlC
8% M ar25
78 M u r l4
67 M a r 14
1 Apr 6
58 *a M ar25
42% A p r 2
7 % M a r l4
15 % M ar27
4 5 34 M ar26
43 M a r l9
42 M a r l5
53 M ar 14
80 % M a rl 4

P h A R e a d 2d 5s ’ 3 3 .A -O
111*2
C on M 7s 1 9 1 1 ........J-D 111
Con M 6s g 1 9 1 1 ....J -D 108*s 108
E x Im p M 4s g ’ 47-A -O ; 101%
120
T e rm in a l 5s g l 9 4 1 .Q - F 119
P W A B co l tr 4 s ’ 21. J-J 100 101
. .. ..
P o rtla n d R y 1st 5s 1930.
R o ch R y & L e o n 5 s ’ 54J-J **9*9*^
96*4 98
U T r a c In d g e n 5 s ’ 19.J-J
Un R y s T r c t fs 4 s ’ 4 9 J A J . . . . . . 83
U n ite d R y s I n v 1st c o ll tr
84 34 85
s l o s 1 9 2 6 .................M -N
111
U T r a c P it ge n 5s ’97 J-J 109
71% 72%
W e lsb a c h s 1 5 s 1 9 3 0 .J-D
101%
W lk s-B G A E c o n 5 s ’ 55J-J
B A L T IM O R E
In active S to c k s
65
A la C o n s C o a lA l i o n . 100
85
88%
P r e t ..............................100
A tla n ta A C h a r lo tte .. 100 175
105
A tla n C oa st L in e R R .1 0 0 104
A tla n Coast L (C o n n ) 100 248 265
92
87
Canton C o .....................100
13
C ons C ot D u ck C o r p . . . 50
3 0 *2
3 1 *2
P r e f e r r e d .................... 50
2/’ % 35
G e o rg ia S ou A F l a . ..1 0 0
97
92
1st p r e f ...................... 100
80
74
2d p r e f ........................ 100
5
5 3<
G -B -S B r e w in g ............100
B onds
A n a co s tia A P o t 5 s ...........
A tl A Ch 1st 7 . . . 1907 J-J
A lla n C L R R 4 s l9 5 2 M -S
A t l Coast L (C t )c t fs os J-D
C tfs o f in ile b t 4 s ___ J-J
5-20 y r 4s 1 9 2 5 ......... J-J
B a lt C P a ss 1 st 5s ’ 11 M-N
B a lt F n n d g o s . 1916 M -N
E x c h a n g e 3 %s 1930 J-J
B a lt A P 1 st 6s m l ’ 11 A -O
B a lt T r a c 1st 5 s .. ’ 29 M -N
N o B a lt D iv 5 s 1942 J-D
C e n t’ l R y c o n 5 s l9 3 2 M -N
E x t A Im p 5 s .1932 M S
Chas C ity R y 1s t 5 s ’ 23 J-J

35
85
97
23*4
48
14

R ange to r P r e v io u t
Y ea r (1 9 0 6 )

S

110
111
101% 102
1 1 0

1 12

111
107
107
100

115

i $20 paid,

................

B id

Chas R y G A E l 5s ’ 99 M -S
Chari C A A e x t 5 s . ’09 J-J
2d 7 s .................1910 A -O
C ity A Sirb 1 st 5 s . . ’ 22 J-D
C ity A S u b (W a s ) l s t 5 s ’ 48
Coal A 1 R y 1st 5s ’ 2 0 F -A
Col A G r n v I s t 6 s .l 9 1 6 J-J
C on sol G as 6 s . ..1 9 1 0 J-D
5 s ........................ 1939 J-D
G a A A la 1st con 5s ’ 45 J-J
G a C a r A N 1st 5s g ’ 29 J-J
G e o r g ia P 1st 6 s . . . ’22 J-J
G aSo A F la 1st 5s 1 945J-J
G -B -S B re w 3-4s 1951M -S
2d in c o m e 5s 1951 M -N
K n o x v T r a c 1st os ’ 28A -U
L a k e R El 1st g u 5 s ’ 42M -S
M e m p h is S t 1 s t 5 s ’ 45 J-J
MetfStt W a s li)lS t5 s ’ 2 5 F A
M t V e r C ot D u c k 1st 6s.
N p t N A O P 1st 5s’ 38 M -N
G e n e ra l 5 s . .. . 194-1 M -S
N o rfo lk St 1st 5 s ’ 4 4 . . J-J
N orth C en t 4 %s 19‘2 5 A-O
Series A 5s 1 9 2 6 .. . .J-J
S eries B 5s 1 9 2 6 -----J-J
P itt U n T r a c 5s 1 9 9 7 . J-J
P oto V a l 1st 5s 1 94 1. .J-J
Sav F la A W e s t 5 s ’ 34 A-O
Seaboard A L 4s 1950 A-O
Seab A R oa n 5s. 1 92 6. J-J
S ou th B o u n d 1st o s ..A -O
U E l L A P 1st 4 %s’ 29 M-N
Un R y A E l 1 st 4s ’49 M -S
In c o m e 4s 1 9 4 9 ........J-D
F u n d in g i s 1 9 3 6 ...J -D
V u g iu ia M id la n d —
2u se rie s 6s 1 9 1 1 .. . M -S
3d se rie s 6s 1 9 1 6 ..M -S
4tli ser 3-4-5s 1 9 2 1 . M-S
5tli se rie s 5s 1 9 2 6 .M -S
\'a (S tate) 3s n e w ’ 3 2 .J-J
F u n d d e b t 2 -3 8 1 9 9 1 . J-J
W est N C co u 6s 1914 J-J
\ V e s V a C A P ls t 6 g ’ l l J-J
W il A W eld 5 s . .1 9 3 5 . J -J

a R e c e ip ts .

0 $25 paid.

54 J a n
39% N ot
12% N o v
14 J a n
48 J a n
23 !4 J an
.1 8 Jan
86 J ’ n®
3 i “ ie J a n
,3H 18 Jan
*54 % M ar
9316 O ct
^34% J a n
83 Jan
47*616 ,Ian
51 Jan
65 A u g
i01
F eb
32 M ar
A8j$
93%

10:4*2 109
102 j
101
102
.....
111 ■114
104% 104%
109 *2 110
: 08 \
107
107
.0 3
114
as
109
103
53
54
23 s 24 ,
104
l05
110
.15
107
79%
90

10
80
95
. ...«

102 s
106
108
__ _
112
110
10
108
. ...«
i'us'
-- •
74 - 75
...••
11
10.1
9.<
94
87
86-“
54
•>4%
^4*4
84
10*
107
107
10'
9.
91
100
10.)'
lit )

__ _
- ..*•
10
93
93
10
05%
........

e $30 paid.

990

THE CHRONICLE.
J m r je s lr a m i a n d
R A IL R O A D

[V o l . l x x x i v .

l l a i l r o a c l fw t e n ijg je n x je .
GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return*
<jan 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. We add a supplementary
statement to show the fiscal year totals of those road3 whose fiscal year does not begin with July, but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest O ross E a rn in g s.
W eek or
M on th .

Current
Y ea r.

July 1 to Latest D ate

P reviou s
Y ea r.

Current
Y ear.

Latest Gross E a m in a s.

P rev iou s
Y ear.

W eek or
M on th .

Current
Y ea r.

July 1 to Latst D ate.

Previous
Y ear.

Current
Year.

P reviou s
Y ea r.

A la G rea t S ou th ern — See S out hern R ail w ay.
N Y C & H u d R iv e r M a r c h ____ 7 ,814,163
7 0,999,312 68,198,290
A la N O & T e x P a c.
3 2 ,3 6 6 ,4 1 9 30,457 120
L a k e Sh ore & M S M a r c h ____ 3,700,694
281,967 2,4 3 3 ,6 6 6 2,196,892
273,352
3,879 501 4,0 7 0 ,9 7 2
N O & N E a s t___ M a r c h ____
L a k e Erie & W e s t M a r c h ____
4 05 ,399
140,097
121,427 1,182,393 1,025,939
A la & V ic k s b u r g . M a r c h ____
Ch ic In d & S o u ._ M a r c h ____
1 ,920,423 1,699,270
271,456
121,687 1 ,234,520
V ic k s b u r g Sh & P M a r c h ____
146,211
940,296
M ichigan C e n tra l. M a r c h ____ 2.350,704 2,203,4091 20,3 74,962 18,860,854
4.697
28,270
4,435
A la T e n n & N o r t h . . F eb ru ary _
31,891
C leve C C & St L .I .M a r c h ____ 2,014,521 1,908 ,8 5 4 1 1 8 ,8 9 6 ,9 6 6 '1 7 ,8 0 3 ,2 7 5
k A t c h T o p & S F e . M arch
S ,3 7 9 ,6 2 7 j6 ,9 3 9 ,5 3 8 6 9 ,0 0 3 ,636J60.284,833
P eoria & E astern j M a r c h ____
249,3151 2,296,701, 2 ,393,793
231,870
345 373; 325,517
A t la n t a & C h ari___ January
______
2.492,923! 2,3 7 5 ,2 0 3
C incinnati N o r t h . IM a r c h ____
79,763
774,626!
681 ,430
76,586
A tla n B irm & A t l’ c . F e b ru a ry . I 1 1 6 ,3 0 6 ;
90,971 1,0 1 6 ,6 7 6
708 934
P itts & L a k e Erie M a r c h ____ 1,077,047 1,1 6 9 ,2 9 11 10,6 25,849,10,034,172
A t la n t ic C oa st L in e F e b ru a ry . 2,308.5391 2,17 2,9 73; 17,340,583 15,889,701
221,901
R u t l a n d _________ ! M arch .
201,638! 2 ,1 2 5 ,1 7 8 1,995 048
B a ltim ore & O h i o . . M a r c h ____ 6,4 9 3 ,2 6 8 6,7 1 1 ,0 9 5 6 0 ,5 6 9 ,3 1 7 5 7 ,6 J 7 ,477
N Y Chir- & St L_ IM arch .
058,686
827,1711 7 ,5 9 9 ,5 0 7 7 211 ,997
B a n g o r & A r o o s t o o k F eb ru a ry .
243,458! 205,631 2 ,052,890! 1,572,832
226,109
N Y Susq & W e s t . . F e b ru a ry .
_________ 204,497 2 ,0 0 1 ,4 5 3 1,878,417
5,197
N o rfo lk & W e s t e r n . |F eb ru ary . 2 ,4 3 8 ,7 0 6 2 ,2 3 3 ,5 4 8 ,2 0 ,0 8 3 ,7 1 8 18,496,052
B e lle fo n te C e n t r a l.. M a r c h ____
4,892
46.194
43,807
B r id g e to n & S a co R F e b ru a ry _
2,937
31,781
32,284
3,008
N o rth e rn Cen tral . . F eb ru ary .
903,5791 835,579j 8,1 6 6 ,4 6 9 j 7,4 3 3 ,0 6 9
69, ISO 6,644,642 6 ,861,760
B u ff R o c h & P i t t s . . 3 d w k A p r; 172 ,442
N o rth e rn P a c ific ___ M a r c h ______ 5 ,1 5 3 ,7 2 0 ,4 ,8 0 7 ,2 5 0 4 9 ,7 0 7 ,6 1 2 46,352 976
B u ffa lo & S u s q ____ F eb ru a ry J
131,629
140,204 1 ,191,517 1,057,116
P a cific Coast C o ___ F eb ru ary .
539,493
4 4 3 .8 5 5 ’ 4,7 4 6 ,0 3 1 ! 4,4 2 8 ,9 7 4
126,200
122^300 5*446*700 4 ,1 6 7 ,5 0 0
C a n adian N o rth e r n . 3d w k A pr,
d P e n n — E a st P & Ei F eb ru ary . 114528601 10824060 102449 613j 9 4 ,773,713
C a n ad ian P a c ific ___ 3d w k A p r 1,367,000 1,271,000 56,3 5 1 ,2 0 6 4 8 ,9 6 4 ,1 1 8
d W e s t o f P & E . I F eb ru ary _ In c . 552 ,500
In c . 4 ,9 2 '9 ,0 0 0
210,400 9,83 >,610 9 ,233,354
C en tral o f G e o rg ia . . 2d w A p r ! 214 ,900
P e o ria * E a s t e r n . .! — See N ew Y o r k Cen tral.
Cen tral o f N J e r s e y . M a r c h ____ 12,075,931 2 , 1 0 1 ,1 0 0 19,449,565 18,814,376
P h lla B alt & W a s h . IF eb ru a ry _ 1 ,166,716 1,097,216 10,918,494 9 .968,494
C h atta n S o u t h e r n .. 2d w k A p r
129,079
4,053
2,328
107,345
595,663
543 ,723 5,9 2 3 .7 9 7 5 ,807,016
P h ila d e lp h ia & Brie F eb ru ary _
C h esapeake & O h io . F e b ru a ry .1 ,9 3 1 ,1 3 9 1,967,689 16,514,824 116,057.659
P itts Cin C h ic& St L M a r c h ___ 2,6 7 7 ,2 8 8 2,4 3 9 ,7 8 6 22,907,647 2 1,242,841
3,723
24,794
5,196
32,630
Chesterfield & L a n e F e b ru a ry _j
P itts & L a ke Erie — See New Y ork Cen tral.
C h ica g o & A lt o n R y F e b ru a ry . 1 ,004,418
867,479 8,7 5 2 ,1 1 0 8 ,0 8 4 ,9 3 7
7,496
4,733
62,280
39,579
R a le ig h & S o u th p o rt F eb ru a ry .
C h ic G reat W estern 3d w k A p r, 154,711
143,911 7 ,6 4 1 ,4 3 0 7 ,1 3 3 ,5 7 2
R e a d in g R a i l w a y .. F e b ru a ry . 3 113,191 3,253 274 27,842,175 2 7 .528,268
115,921
1 0 9 ,945j 4 ,673,217 4,628,685
C h ic In d & L o u is v . 2d w k A p r
Coal & Iro n C o . . F e b ru a ry . 3 ,5 1 9 ,3 4 0 2 ,9 4 3 .1 9 8 '2 5 .3 2 6 ,8 4 5 2 3 ,861.239
C h ic Ind & Southern — See N ew Y o r k Cen tral.
T o ta l b o th c o s ___ F e b ru a ry . 6,632,531 6,196,472 53,1 6 9 ,0 2 0 51 ,389,507
C h ic M ilw & St P a u l F e b ru a ry . 4,3 3 1 ,7 2 0 4 ,0 4 5 ,3 5 6 4 0 ,711,382 37,427,598
R ic h Fred & P o t ___ F e b ru a ry .
149,609, 132,505 1,195,138 1,065,195
C h ic & N o rth W est M a r c h ____ 5 ,706,104 5,067,306 5 1 ,7 1 3 ,0 9 6 47,4 3 7 ,8 5 4
R io G ra nde J u n e .. F e b ru a ry .
561,598
4 56 ,870
5 8 ,485j
44,830
C h ic St P a u l M & O M a r c h ___ 1,151,115 1,012,176 10,698,509 9 ,9 4 8 ,0 4 6
4 44 ,987
R io G rande S o u t h . . [2d w k A p r
9,970]
8,628
475 ,135
C h ic T erm T ra n R R 3d w k A p r
35,325
31,814 1,370,001 1,394,266
R o c k Isla n d S y s t e m !M a r c h ___ 5,2 7 6 ,7 9 5 !4 ,167,877 44,729,391 39,3 3 5 ,5 3 2
C ln N O & T e x a s P a c —See S ou t hern
Ra llw aye St L & San F ran [ M a r c h ___ 4 ,4 1 6 ,7 1 8 3,7 1 6 ,1 8 7 37,163,091 32,2 9 6 ,8 9 8
C ln cln n a t' N orth ern — See N ew Y o r k Cen tral.
f E v a n s & T e r H . M arch
175,496
188,032 1,719.123 1 ,656,756
C lev Cin C h ic & St L —See N ew Y o r k Cen tral.
T o t a l o f all lin e s . M a r c h ____ 9 ,869,010 8,0 7 2 ,0 9 7 8 3 ,6 1 1 .6 0 6 73 ,2 8 9 ,1 8 7
C o lo r a d o M idlan d
F eb ru a ry .
186,338
164,827 1,685.231 1 461 ,055
R u t la n d ____________ — See N ew Y ork Cen tral
h C ol & S ou th S y s ._ 2d w k A p r
243,254
210,134 1 0,574,599 9 ,257,680
St Jos & G rand I s l. F e b ru a ry .
144,538
111,971 1,160,468 1,0 4 9 ,0 9 6
28,384
C ol N e w b & L a u r . . F e b ru a ry .
25,832
210,689
195,768
St L ou is & San Fran — See R o c k Island Sv stem .
C op p er R a n g e
60,467
J a n u a ry .
399.541
56,968
466,562
198,923
157,284 8 ,566,996 7 ,2 7 6 ,2 1 5
St L ou is S ou th w est . 3d w k A p r
16,886
F e b ru a ry .
C orn w a ll______
18,062
136,164 i S ea b oa rd A ir L i n e . . IF eb ru a ry . 1,393,686 1,318,608 10,590,502] 9 ,8 7 0 ,5 3 3
143,582
C ornw all & L eb an on F eb ru a ry .
38,015
35,378
320,377
304 539
28,104
Sierra R a i l w a y -------F eb ru a ry .
25.799
293,334
237,329
390,500
D e n v & R io G rande 3d w k A p r
3 5 5 ,800 (16 .87 6,92 1 15,679,092 [ Sou th ern In d ia n a . .! M a r c h ____
129.504
133,815 1,224,003! 1 ,105,209
888,471
D e tr o it & M ack in ac 2d w k A p r
27,303
23,556 1,008,699
cS ou th ern P a cific C o F e b ru a ry _ 10057098 8,001 .844 82,3 2 3 ,9 8 3 6 9 ,786,156
D e t T o l & Iron t Sys 2d w k A p r
77,195
6 5 ,1 2 4 1 3 ,347,840 3,3 0 4 ,8 2 7
Sou th ern R a i l w a y .. 2d w k A p r 1,072,018 1,027,884 4 4 ,4 7 0 ,4 7 8 42,4 9 7 ,3 8 2
61,833
D u l S o S h ore & A t l . 3d w k A p r
57,051! 2,5 8 0 ,1 4 5 2,4 3 8 ,9 0 3
195,481
M ob ile & O h io ___2d w k A p r
164,079 8,2 4 1 ,7 8 8 7 ,2 8 3 ,2 7 9
E r i e ________________ F e b ru a ry _ 3,7 5 0 ,6 4 5 3 ,6 3 5 ,4 1 9 34,9 0 1 ,8 4 8 33,696,843
Cln N O & T e x P . 2d w k A p r
157,433
153,501 6 ,6 0 4 ,2 0 0 6 ,548,164
E v a n sv ille & T er H — See R o c k Isla n d S ystem .
A la G reat S o u t h . 2d w k A p r
68,224
64,706 3,1 8 1 ,7 4 6 2 ,9 6 8 ,4 9 8
F a irch ild &N E ___ M arch
1,648
1,456
13,731
17,950
G a S ou th & F l a . . F eb ru ary .
196,911
172,624 1,491 ,853 1,281 ,515
47,939
46,324
520,119
F o n d a J o h n st& G lo v F e b ru a ry .
4 84 ,496
774,617
T e x a s C e n t r a l_____ 2d w k A p r
25,203
15,185
987,065
250,686
233,195 2,0 6 3 ,9 8 0 1,909,432
G eorg ia R R ________ F e b ru a ry .
224,137 13,665,086 10,701,199
T e x a s & P a c ific ____ 3d w k A p r
273,159
G eorg ia S o u t h * Fla —See S out hern Rail w ay.
5 8,214
T id e w a te r & W e s t . F eb ru a ry
7,366
7,033
57,631
G rand T ru n k S y s t ._ 3d w k A p r
868,876
766,938 3 4,7 8 4 ,4 5 4 31,782,564
346,596 3 ,246,665 2 ,9 1 1 ,2 6 0
349,721
T o le d o & O hio C en t F eb ru a ry
113,516
93,933 4 ,6 3 5 ,5 2 0 4 ,2 3 8 ,1 7 0
G r T ru n k W e s t .. 1st w k A p r
T o le d o P e o & W e s t . 2d w k A p r
23,504
21,414
997,793 1 ,049,717
D e t Gr H & M i l . . 1st w k A p r
27,739
27,374 1 ,414,000 1,237,815
T o le d o St L & W est 3d w k A p r
65,096 3 ,309,955 3,3 2 6 ,1 8 0
73,008
33,179
C a n a d a A t la n t lc . 1st w k A p r
32,143 1,523,325 1,488,306
32,041
T o m b ig b e e V a l l e y . . F e b ru a ry .
5,328
4.667
41,918
•Great N o rth e r n ____ M a r c h ____ 4,1 9 4 ,2 0 7 3 ,846,685 38,1 6 3 ,3 1 8 3 6,977,852
T o r H am & B u ffa lo M a r c h ____
5 57 ,244
64,686
69,063
605.032
M on ta n a C en tra l. M a r c h ____
245 ,948
219,785 2,0 5 5 ,4 8 2 2 ,0 5 4 ,0 2 3
U n io n P a cific S yst_ F eb ru a ry . 5,053,241 4,728,351 50,0 2 9 ,2 6 3 45,6 6 0 ,6 1 2
T o ta l s y s te m ____ M a r c h ____ 4 .440.155 4 .0 6 6 ,4 7 0 40,2 1 8 ,8 0 0 39,031,875
V irgin ia & So W e s t .'M a r c h ____
95,646
735,732
770,114
95,980
56,984
G u lf & Ship Isla n d . 2d w k A p r
41,915 1 ,953,602 1,655,365
W a b a s h ____________ [3d w k A p r
508 ,310
459 ,330 2 1,947,565 2 0.106,587
498,594! 533 ,510 4,524,772 4 ,493,083
H o ck in g V a lle y ____ F eb ru ary .
W estern M a ry la n d - 3d w k Apr
125,852
102,959 4 354,070 3,7 5 1 ,9 1 2
4,9 8 1 ,8 4 2 4 ,640.563 4 2 ,0 2 9 ,5 6 0 3 8 ,843.133
Illin ois C e n t r a l____ M arch _
W e s t Jersey & Sea_ j F eb ru a ry .
272,244
265 444 3,611.160] 3,3 7 3 ,1 6 0
In ter <Sc G reat N orth 3d w k A p r
149.000
115.000 7,2 1 8 ,9 5 8 5 ,5 5 6 ,1 9 8
W h e e l & L a k e E r ie . 2d w k A p i
127,147
64,548 4,667,816) 4 ,3 3 7 ,2 0 9
143,492
129,561 5 ,7 3 2 ,8 0 5 5,0 0 6 ,2 1 8
12,96?
87 ,1 7 !
94,30(1
a ln t e r o c e a n lc (M ex) 3d w k A p r
W ’ m sp o rt & N U r. . D ecem ber
13,/R>»
58,078
I o w a C en tral_______ 3d w k A p r
54,113 2 ,5 6 1 ,4 9 8 2,425,383
W iscon sin Central .'J a n u a r y . .
540,531] 532,099 4,347.894 ! 4,184.621
188,796
K a n a w h a & M i c h . . F eb ru ary _
W r ig h ts v & T e n n llle 1F e b ru a ry .
174,103 1,538.394 1,452,762
153,293
142,637
18,3551
17,871
785,136
K an sas C ity S o u t h . M a r c h ____
701,057 6,685.352 5.646,520
Y a z o o & Miss V a lle y :M a r c h ____
891,203 7 ,297,098 6,474,469
870,529
L a k e E rie & W e s t ’n — See N ew Y ork Cen tral.
L a k e S hore & M Sou — See N ew Y o rk Cen tral.
L eh ig h V a lle y ______ F e b ru a ry . 2.349.156 2 ,306,797 2 3 ,453,733 22,560,883
L e x in g to n & E a s t . . F eb ru a ry .
42,250
36,961
361,106
340,321
C urrent
P revious
Y ear.
L o n g Is la n d ________ F eb ru ary .
In c . 19, 978
I n c . 651, 895
V a rio u s F isca l Y ears.
Period.
Y ear.
L ou isia n a & A r k a n . F e b ru a ry .
92,735
768 ,614
9 4,700
647,331
L o u is v ille & N a s h v . 3d w k A p r
966 ,195
3 ,822,696 3,619 432
8 13 ,215 3 8,8 3 1 ,3 1 7 3 4 ,4 7 7 ,8 1 0
A tla n ta & C h arlotte A ir L in e ___ M ch 1 t o Jan
M a c o n & B lr m in g .. M a r c h ____
14,611
13,839
130,688
127,061
B ellefon te C e n t r a l_______________ Jan 1 t o M ch
14,723
15,041
M anistee & N o tiast F eb ru ary .
39,767
46,569
M anistee & N o rth e a s te r n _______ Jan 1 t o F eb
91.828
89 346
M a n istlq u e _________ M a rch .____
4,151
5,403
58,596
66,182
M a n ls t lq u e _______________________ Jan 1 t o M ch
13,291
15,101
M arylan d & P e n n .. F eb ru ary .
23,432
24,547
234,728
241,467
M ex ica n R a ilw a y ________________ Jan 1 t o A p r
2 ,173,900 1 ,857.900
a M exica n C e n t r a l.. F e b ru a ry . 2 ,548.389 2,229,926 19,628,866 18,185,422
M exica n S o u th e r n _______________ Jan 1 t o A p r
3 60,150
347 ,768
a M ex ica n I n t e m a t . 3d w k A p r
178,330
142,415 6 ,5 7 1 ,0 2 5 5 ,6 7 4 ,0 9 6
t o M ch
21,7 8 8 .7 7 0 21 ,292,254
N ew Y o r k C e n tra l_______________ Jan
a M exica n R a ilw a y . 1st w k A p r
147 ,500
126,500 5 ,7 6 4 ,2 0 0 5,0 1 9 ,9 0 0
t o M ch
L a k e Shore & M ichigan South Jan
10,429,137 10,023,253
a M exica n Southern 1st w k A p r
23,749
28,608
973 ,670
927,096
L a k e Erie & W e ste rn _________ Jan
t o M ch
1,192,070 1,323,050
M ich iga n C entral
— See N ew Y o r k Cen tral.
t o M ch
621,099
C h icag o Indian a & S o u th e rn .. Jan
733.956
M ineral R a n g e _____ 3d w k A p r
14,311
13,571
617,316
t o M ch
M ichigan C e n tra l_____________ Jan
6 07 ,873
6,718,518 6,3 0 4 ,1 4 4
M in n eap & St L ou is 3d w k A p r
64,855,
63,082 3,0 7 7 ,7 8 4 3,012,331
t o M ch
C leve Cln C h ic & St L o u is ____ Jan
5.664,572 5,516,538
255 ,902 ' 236,787 9 ,7 0 0 ,3 0 8 9 ,1 3 4 3 4 5
M inn St P & S S M . 2d w k A p r
739 ,974
t o M ch
P e o ria & E a ste rn _____________ Jan
698,978
M o K an sas & T ex a s 3d w k A p r
490 ,306
363,221 2 1 ,1 17,046[ 1 7,334,407
213 ,848
t o M ch
C incinnati N o r t h e r n _________ Jan
222,660
M o P a c & Iron M t ._ 3d w k A p r
944.000
818.000 3 7 ,4 8 3 ,1 0 5 34,3 2 7 ,0 7 7
t o M ch
P ittsb u rg h & L a k e E rie______ Jan
3,191,511 3,2 4 9 ,7 2 8
Cen tral B r a n c h .. 3d w k A p r
35,000
3 2 ,0 0 0 1 ,330,322 1 ,555,313
575,251
R u tla n d _______________________ Jan 1 t o Mch
593,839
T o t a l_____________ 3d w k A p r
979.000
850,000 3 8 ,813,427 35,8 8 2 ,3 9 0
t o Mch
N Y C h icago & St L o u is ______ Ian
2,583,298 2,4 4 6 ,1 7 8
b M obile J a ck & K C D e ce m b e r
139,700
92,984
to F eb
743,921
N o rth e rn C e n tra l________________ Jan
466,475
1,895,715 1,783.315
M ob ile & O h io
— See S out hern R ail w av.
t o F eb
d P en n — E a st o f P itts & E rie ___ Jan
2 4 ,036,572 22,826,572
N a sh C h att & St L . F e b ru a ry .
992,703
878 ,447 7 ,7 3 1 ,9 6 7 7 ,0 5 0 ,6 5 8
to F eb
d W e s t o f P itts b u rg h & E r i e . . Jan
In c . 857, >00
a N a t R R o f M e x ico 3d w k A p r
337.051
to F eb
295 ,202 12,3 1 8 ,4 9 2 1 1 ,022,189
2 412.756 2 .284,556
P h lla B a ltim o re & W a s h ia g to n 9 Jan
H id a lg o & N E . _ 3d w k A p r
18,443
7 99 ,564
t o F eb
1,225,459 1,175,358
P h ilad elp h ia & E rie _____________ Jan
N e v -C a l-O re g o n ____ 2d w k A p r
3,702
” 3,933
7,569,622 7,0 3 3 ,6 2 9
2 03 ,644
t o M ch
P itts Cin C h ic & St L o u is _______ Jan
177,794
N e v a d a C en tra l____ F e b ru a ry .
148,525
5,388
3,666
50,132
198.068
31,226
R io G ra n de J u n c t io n ____________ D e c 1 to M ch
N Y C h ic & St L ou is — See N ew Y o r k Cen tral.
5 ,302,712 4 ,216,792
T e x a s & P a c ific __________________ Jan 1 t o A p r
N Y O n t & W estern M a r c h ____
529,854
646,418
617 ,877 6 ,0 7 3 ,5 4 2 5 ,6 6 5 ,1 5 7
552,254
W e st Jersey & S e a sh o re ------------- Jan 1 to Feb

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
M on th ly Sum m aries.
2d
3d
4th
1st
2d
3d
4 th
1st
2d
3d

w eek F e b
w eek F eb
w eek F eb
w eek M ch
w eek M ch
week- M ch
w eek M ch
w eek A p ril
w eek A p ril
w eek A p ril

(39
(42
(43
(43
(43
(44
(41
(42
(44
(27

r o a d s )____
r o a d s ) ____
r o a d s ) ____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s ) ____
r o a d s ) ____

Cur'nt Y ear Prev's Year.
S
9,477,481
9,780,541
10,828,667
9,747,374
10,161,319
10,149,406
14,765,658
9,726,621
10,329,969
7,7 3 6 ,7 5 7

S
8,672,351
8 ,954.573
10,201,031
9,025,944
9 ,292,598
8 ,978,802
13,485,514
8,688,049
9,045,571
6,666,180

In c. or D ec.

+
+
+
+
+

$
+ 8 0 5 ,1 3 0
+ 825 ,968
+ 627.636
+ 721 430
+ 868.721
1 ,170,604
1 ,280,144
1,038 572
1,284,398
1,0 7 0 ,5 7 7

%
9.28
9.22
6.15
7.99
9.35
13.15
9.49
11.95
14.19
15.91 i

M o n th ly S u m m aries.
M on th
M on th
M onth
M onth
M on th
M onth
M on th
M onth
M onth
M on th

Jun e
J u ly
Aug
Sept
O ct
N ov
D cc
Jan
F eb
M ch

1906
1906
1906
1906
1906
1306
1906
1907
1907
1907

(113
(117
(118
(122
(119
(123
(127
(123
(122
( 66

r o a d s ).
roads) .
roads) .
roads) _
r o a d s ).
r o a d s ).
r o a d s ).
roads) .
r o a d s ).
r o a d s ).

C u r’nt Year Prev's Year.
S
146,010,301
168,336,461
179 ,191 ,94 5
184,551,471
198,733,229
186 696,274
184 ,235 .53 5
173.212.305
162,283,992
77,540,501

1
130,233,293
148.013,565
159,835,022
171 .553,520
179.405.267
175.727,985
170 .746 ,76 3
162 .623 .88 3
152,555,191
7 1 ,8 9 6 ,3 0 3

Inc. or D ee.
S
+ 15,777,008
+ 2 0 ,322,896
+ 19 .356.923
+ 12,997.951
+ 19.327 .962
+ 1 0,971,289
+ 13,488 8261
+ 10,588,422
+ 9,728,8011
+ 5,644,198)

12.11
13.73
12.11
7.58
10.77
6.24
7.30
6.51
6.05
7 .8 5

a M exica n cu rren cy , b In clu d e s earnings o f G u lf & C h ica go D ivision ,
c Inclu des th e H o u sto n <fc T e x a s Central an d Its su b sid ia ry lines In b o th
fe a r s . ■ d C ov ers lines d ir e ctly o p e ra te d , e In clu d e s th e C h ica go & E astern Illinois In b o th yoars.
f In clu d e s E v a n sv ille & Indian a R R .
n In clu de*
earnings o f C ol. & S o u th ., F t. W o r th & D e n v e r C ity an d all a ffilia te d lines, e x c e p tin g T r in ity & B r a z o ; V a lley R R .
t In clu d es in b o th years earnlnars
*1 D e n v e r E n id & G u lf R R ., P e co s System and San ta Fe P r e s c o tt & P h o e n ix R y




Latest Gross Earnings by W eeks.— In the table which
follows we sum up separately the earnings for the third
week of April. The table covers 27 roads and shows
15.91% increase in the aggregate over the same week last year
T hird week o f A p r il.
B u ffa lo R o c h e ste r & P ittsb u rg h
C a nadian N o rth e r n _____________
C a nadian P a c ific ________________
C h ica go G reat W e s te rn --------------C h ica go T erm in al T ra n sfe r...........
D en ver & R io G ra n d e ----------------D u lu th Sou th S hore & A t la n t lc .
G ra n d T ru n k o f C a n a d a _______
G rand T ru n k W e s t e r n _______
D et G rand H a v e n & M ilw
C a n a d a A t la n t ic _____________ j
In tern a tion a l & G reat N orth ern
In terocea n lc o f M e x ic o _________
Towa C e n t r a l........................... .........
L ou isville & N a s h v ille ---------------M exica n I n t e r n a t io n a l_________
M ineral R a n g e __________________
M in n eapolis & S t L o u is _________
M issouri K an sas & T e x a s ----------M issouri P a cific & Iro n M t n ____
C entral B r a n c h ____ __________
N a tion a l R R o f M e x ic o --------------St L ou is S ou th w es te rn --------------T e x a s & P a c ific _________________
T o le d o St L ou is & W e s te r n ____
W a b a s h __________________________
W estern M a r y la n d _______________
T o ta l (27 r o a d s )_______________
N et in crea se ( 1 5 .9 1 % ) _________

991

THE CHRONICLE.

A p r . 27 1907.]

1907.

1906.

Increa se. D ecrea se.

$
172,442
126,200
1 ,367,000
154,711
35,325
390 ,500
61,833

$
69,180
122,300
.271,000
143,911
31,814
355 ,800
57,051

$
103,262
3,900
96,000
10,800
3,511
34,700
4,782

868 ,876

766 ,938

101 ,938

Interest Charges and Surplus.— The following roads, in
addition to their gross and net earnings given in the foregoing,
also report chargcs for interest, &c., with the surplus above
or deficit below these charges:

149.000
143,492
58,078
966,195
178,330
14,311
64,855
490 ,306
944 .000
35,000
337,051
198,923
273,159
73,008
508,310
125,852
7 ,7 3 6 .7 5 7

— I n t ., R entals, & c .—
C u rren t
P rev io u s
Y ear.
Y ear.
$
$

6 .666,180

For the second week of April our final statement covers
43 roads and shows 14.19% increase in the aggregate over
the same week last year.
S econd w eek o f A p r il.

1907.

P r e v io u s ly rep o r te d (28 r o a d s ) .
A la b a m a G rea t S o u th e r n _____ _
C en tral o f G e o rg ia ______________
C h a tta n o o g a S o u th e r n _________
C h ica g o G rea t W e s te rn _______ C h ica g o In d ia n a p olis & L o u is v .
Cin N ew O rleans & T e x a s P a c . .
C o lo r a d o & S o u t h e r n .___________
D e tr o it T o le d o & I r o n t o n _______
G u lf & Ship I s la n d ______________
M in n eap olis St P a u l & S S M ___
M ob ile & O h io _________ ________
a N e v a d a C a liforn ia & O r e g o n . .
S ou th ern R a ilw a y ____________ . .
T e x a s C e n tra l___________ _________
T o le d o P eoria & W e s te rn _______
W h e e lin g & L a k e E rie________

$
7,537,641
68,224
214,900
4,053
151,407
115,921
157,433
243,254
77,195
56,984
255 ,902
195,481
3,702
1,0 7 2 ,0 1 8
25,203
23,504
127,147

F o r M arch ta x e s an d ren tals a m o u n te d t o $ 2 1 4 ,9 9 4 , a g a in st $ 1 8 6 ,9 4 5 In
1906, a fte r d e d u c tin g w h ic h , n e t fo r M arch 1907 w as $ 2 ,8 9 1 ,5 7 1 , a gain st
$2,3 3 9 ,2 9 3 la st y e a r .
F ro m J u ly 1 1906 t o M arch 31 1907 t a x e s an d ren tals
w e re $ 1 ,8 7 9 ,0 7 3 . a g a in st $ 1 ,8 0 1 ,0 7 9 la st y e a r .
h F o r M arch 1907 a d d itio n a l in c o m e w as $ 9 ,7 8 1 , a ga in st $ 3 ,9 9 2 in 190 6,
a n d fro m J u ly 1 t o M arch 31 w as $45 ,5 6 0 in 19 0 6 -7 , a g a in st $42 ,492 in
1905-6.
fc F o r M arch 1907 a d d itio n a l in c o m e w as $ 1 2 ,1 4 5 , a g a in st $ 1 6 ,7 7 2 In 190 6,
a n d fr o m J u ly 1 1906 t o M arch 31 1907 w as $ 1 7 6 ,3 7 4 in 1 90 7, a ga in st
$ 1 3 7 ,8 6 3 In 1 90 5-6 .
n T h ese figu res r e p re se n t 30 % o f gross e a rn in g s.
V F o r F e b ru a ry a d d itio n a l In co m e a n d n e t p r o fits fro m c o a l, & c ., w ere
$52 ,527 th is y e a r , a ga in st $60 ,2 2 5 last y e a r ; a n d fr o m J u ly 1 t o F e b . 28
w ere $433,985 th is y e a r , a g a in st $53 6 ,7 0 0 last y e a r .

Increa se.

D ecrea se.

$
$
6 ,5 0 1 ,8 8 6 1,042,300
64,706
3,518
210 ,400
4,500
2,328
1,725
151,802
109,945
~ 5,976
153,501
3,932
33,120
210 ,134
12,071
65,124
4 1,915
15,069
236,787
19,115
164,079
31,402
3,933
44,134
1 ,0 2 7 ,8 8 4
10,018
15,185
21,414
2.090
62,599
64,5 4 8

$
6,545

1906.

395
.............

231

— B a l. o f N e t E n g s.—
C u rrent
P rev iou s
Y ea r.
Y ea r.
$
$

R oads.
B o s t R e v e r e B e a ch & L y n n —
Jan 1 t o M ch 3 1 _______
1 5 ,5 4 3
1 5 ,9 0 4
x d e f l3 ,5 4 4 s d e f l2 ,5 7 8
4 6 ,8 8 0
4 6 ,5 8 4
2:30,450
2 2 9 ,5 4 9
J u ly 1 t o M ch 3 1 _______
C e n t r a lo f N ew J e r s e y . . . M c h
7 2 9 ,4 6 2
6 0 3 ,3 5 4
6 1 2 1 ,7 8 4
637 2,86 1
• J u ly 1 t o M ch 3 1 _______ 5 ,6 3 7 ,0 7 7 5 ,5 4 7 ,2 4 9 6 3 ,4 0 1 ,7 9 7 6 3 ,6 1 5 ,2 3 0
M an istee & N o E a s te r n _ F e b
6,8 6 6
6 ,7 6 6
15,571
11,259
• Jan 1 t o F e b 2 8 _______
13,731
13,5 3 2
30,6 6 2
3 0 ,9 4 6
N Y O n ta rio & W e s t e r n .M c h
7 5 ,9 1 7
7 2 ,6 0 4
113 ,5 8 7
110 ,660
J u ly 1 t o M ch 3 1 _______
669 ,4 0 1
6 3 6 ,7 9 6
1 ,2 7 7 ,6 7 2
9 8 7 ,9 6 5
P itts b u r g h C oal C o ______M ch
233 ,1 6 5
2 4 9 ,6 6 3
8 6 ,4 3 6
1 2 8 ,6 5 7
Jan 1 t o M ch 3 1 _______
6 98 ,100
7 4 2 ,7 9 1
3 2 7 ,3 3 0
282 ,7 0 1
P o c a h o n t a s C o l l ie r i e s ...M c h
/1 6 .5 7 5
/1 6 ,8 9 a
2,7 8 2
1 2 ,7 9 3
Jan 1 t o M ch 3 1 _______
/5 0 .2 4 4
?50,107
6,6 0 5
3 3 ,9 2 2
R i o G ra nde J u n c t i o n . . . . F e b
8 ,3 3 4
8,3 3 4
9,2 1 2
5 ,1 1 5
D e c. 1 t o F eb 2 8 _______
25,0 0 0
2 5 ,000
3 4 ,4 2 0
19,5 5 7
U n ite d S tates T e le p h o n e -F e b
13,6 6 6
1 3 ,003
7 ,5 4 7
6,341
Jan 1 t o M ch 3 1 _______
27,5 9 4
2 6 ,020
15,139
1 2 ,3 3 4
6 In c lu d e d In fix e d ch a rg e s are e x p e n d itu r e s fo r r e n e w a ls, a d d itio n s a n d
im p ro v e m e n ts a m o u n tin g t o $ 7 9 ,0 2 6 fo r M a rch , against. $ 85 ,945 in 190 6,
a n d t o $86 2,39 6 fro m J u ly 1 t o M ch . 31 1 90 7, a g a in st $ 1 .3 2 1 ,6 8 1 la st y e a r .
d In clu d e s s in k in g fu n d an d p r e fe rr e d s t o c k d iv id e n d .
x A ft e r a llo w in g fo r o t h e r in c o m e r e c e iv e d .

STREET RAILW AYS AND TRACTION COMPANIES.
Latest Gross E a rn in g s.

to latest date.

N am e of
R oad.

a A m e r ic a n R y s C o ___
c A u r E lgin & C h ic R y
B in g h a m to n R y _____
----------Blrm R y L t & P o w e r
B r o c k t o n & P ly St R y
H urllngton (V t) T raci J an u ary . 1 0,3 2 9 ,9 6 9 9,0 4 5 ,5 7 1 1 ,2 9 1 ,5 6 9
T o ta l (44 r o a d s ) _____
7,171
C a pe B r e to n F le e C o . F e b ru a r y _
1 ,2 8 4 ,3 9 8
N et in crea se ( 1 4 .1 9 % ) .
C en tral P e n n T r a c ___ M a r c h ____ _
Chari C on R y G al& E lj M a r c h ____
C h ica g o & M ilw E lec.. M a r c h ____
, a D ecrease d u e t o p artial train serv ice on a c c o u n t o f w a s h o u ts .
d C h lca g o & O a k P a rk | M a rch ____
C leve P a in e sville & El M a r c h ____
N e t E a r n in g s M o n t h ly to L a t e s t D a t e s .— T h e ta b le fo l­
C leve S o u th w & C o l. . iM a r c h ____
D allas E le c C o r p ’ n ___ J a n u a ry . .
l o w in g s h o w s th e g r o s s a n d n e t e a r n in g s o f S T E A M r a ilr o a d s
D e tro it J a c k ’ n & C h Ic'2 d w k A p r
r e p o r t e d th is w e e k .
A fu ll d e t a ile d s t a t e m e n t , i n c lu d in g a ll
/ D e t r o i t U n ite d R y _ 2d w k A p r
D u lu th S treet R y ___3d w k A p r
r o a d s fr o m w h ic h m o n t h l y r e t u r n s c a n b e o b t a in e d , is g iv e n
E ast St L o u is & S u b J M a r c h ___ _
o n c e a m o n t h in th e s e c o lu m n s , a n d th e la te s t s t a t e m e n t o f
E l P a so E le c t r ic ______F e b ru a ry .
F t W a y n e & W abasfij
t h i s k i n d w i l l b e f o u n d i n t h e i s s u e o f A p r i l 20 1907.
T he
V a lle y T r a c t io n ___ F e b ru a r y .
n e x t w i l l a p p e a r i n t h e i s s u e o f M a y 25 .
G a lv e sto n E le c tr ic C o F e b ru a ry .
H a r tf & S p rin g S t R y jF e b ru a r y .
— — G ross E a rn ’ gs------- --------N et E a rn in g s -------C u rren t
P rev iou s
C u rren t
P r e v io u s H a v a n a E le c tr ic R y . W k A p r 21
Y ea r.
Y ea r.
Y ear.
Y e a r . H on olu lu R a p id T r &
L a n d C o ________
R oads.
$
$
$
$
A tch T o p e k a & S F _ b - . - M c h 8 ,3 7 9 ,6 2 7
6 ,9 3 9 ,5 3 8 d 3 ,1 0 6 ,5 6 5 dZ ,5 2 6 238 H o u g h to n C o S t R y . .
J u ly 1 to M ch 3 1 _______ 6 9 .0 0 3 ,6 3 6 6 0 ,2 8 4 ,8 3 3 d 2 5 ,7 6 3 ,5 7 4 d 2 3 ,0 3 4 ,3 0 6
H o u s to n E le c tr ic C o .
| 262
Illinois T r a c t io n C o . .
B o s to n R e v e re B e a ch & L y n n , b —
Jan 1 t o M ch 3 1 ............
137 ,942
131 ,511
d e f2 ,1 7 0
de f2 5 5 J a ck so n C on sol T r a c .
J u ly 1 t o M ch 3 1 ...........5 8 7 ,7 1 4
5 2 0 ,6 0 3
6 2 ,3 1 5
61,692 J a ck s o n v ille Klee C o .
K a n C ity R y & L ig h t
B u ffa lo G as C o .................... M ch
.........................................
30,5 5 5
30,995 L e x & In ter R y s C o . . F e b ru a r y .
............................ ............
194 ,368
203 ,900 M adison & In t T r a c . M a r c h ____
O c t 1 t o M ch 3 1 .............
B u ffa lo R o c h & P i t t s -b - M c h
668 ,613
7 1 6 ,4 9 5
2 2 9 ,8 3 4
3 0 3 ,8 0 5 M anila K le c R & L C orp M a r c h ____
J u ly 1 t o M ch 3 1 _______ 6 ,1 7 7 ,7 8 4
6 ,6 5 4 ,2 2 0
2 ,3 4 8 ,8 4 3
3 ,0 3 6 ,2 7 8 M et W e s t S id e E l e v . . 'M a r c h ____
M ilw i:ie c R y & L tC o M a r c h ____
C e n t r a lo f N ew J e r s e y , b -M c h 2 ,0 7 5 ,9 3 1
2 ,1 0 1 ,1 0 0
8 5 1 ,2 4 6
976 ,215 M
ilw L t H t & T r a c Co M a r c h ____
J u ly 1 t o M ch 3 1 ............. 1 9 ,4 4 9 ,5 6 5 1 8 ,8 1 4 ,3 7 6
9 ,0 3 8 ,8 7 4
9 ,1 6 2 ,4 7 9 M on treal S treet R y _ - , W k A p r 20
D e tr o it & M a c k i n a c .a -- M c h
125 ,3 6 0
108 ,6 9 4
19,590
d e f l l , 1 3 9 N a sh ville R y & L ig h t F e b r u a r y .
J u ly 1 t o M ch 3 1 _______
9 5 6 ,7 7 8
841 ,101
169 ,970
172,296 N J & H R R y & F y C o l M a r c h ____
F a irch ild & N o r t h e a s t.b .M c h
1,648
1.456
d e f.3 5 6
294 N O R y & L ig h t C o . . i F e b r u a r y .
J u ly 1 t o M ch 3 1 _______
13,731
17,950
d e f.2 ,0 7 7
4 ,9 0 0 N o r O h io T r a c & L t . . j M a r c h ____ i 133
N o r f & P o rts m T r Col F ebru ary^.
128
I o w a Cen tral _a ............... M ch
256 ,3 5 3
275 ,159
ft90,688
ft95,277 N o r T e x a s T r a c C o . - J a n u a ry . . i 74
J u ly 1 t o M ch 3 1 _______ 2 ,3 9 4 ,2 9 3
2 ,2 5 7 ,2 7 4
7i750,726
h597 ,1 3 7 N o rth w e s te rn E l e v . . jM a rch ______ 138
L e x in g to n & E a s te r n .b -F e t o
4 2 ,250 .
36,961
2 1 ,115
16,122 O k la h om a City7 R y . . | M a r c h ____
19
J u ly 1 t o F e b 2 8 _______
3 6 1 ,1 0 6
340,321
144 ,444
139,746 P eek sk lll L ig h t & R R ! F e b ru a r y . i 10
M an istee & N o E a s t . b . . F e b
4 6 ,5 6 9
3 9 ,767
22,4 3 7
18,025 P o r tla n d R y s C o ____ J a n u a r y . .
Jan 1 t o F e b 2 8 _______
91,8 2 8
8 9 ,3 4 6
4 4 ,3 9 3
44,478 P u g e t S o u n d E le c R y F e b ru a ry .
R io d e Jan eiro T ra m
M ln neap & St L o u ls .a — .M c h
3 3 2 ,5 6 2
298 ,6 1 3 ' * 1 2 7 ,5 7 4
*116 ,381
L ig h t & P o w e r . ___ [ M a r c h _____
J u ly 1 t o M ch 3 1 _______ 2 ,8 7 7 .9 0 1
2 ,8 1 3 ,8 8 4 k l.0 1 8 ,0 2 2 fcl,1 3 8 ,2 7 7 R o c k f o r d & in te ru rb l F e b ru a ry .
N Y O n ta rio & W e s t .a . - M c h
6 4 6 ,4 1 8
6 1 7 ,8 7 7
189 ,504
183,264 S t J o s e p h i Moi R y L t (
H e a t & P o w e r C o . - M a r c h ____
J u ly 1 t o M ch 3 1 _______ 6 ,0 7 3 ,5 4 2
5 ,6 6 5 ,1 5 7
1 ,9 4 7 ,0 7 3
1,624,761
P it t s C in e C h ic & St L . a . M c h 2 ,6 7 7 ,2 8 8
2 ,4 3 9 ,7 8 6
6 5 3 .2 3 5
508 ,222 S ao P a u lo T r L t & P M arch . . . .
Jan 1 t o M ch 3 1 . .......... 7 ,5 6 9 ,6 2 2
7 ,0 3 3 ,6 2 9
1 ,5 6 3 ,6 4 5
1,440,821 Sav an n ah E le ctric C o 'F e b r u a r y . I
S o u th Side E le v a t e d - M a r c h ____
P itts b u r g h C oal C o ...........M ch
............
................
319 ,601
' 378 ,320 S y racu se R a p T r R y . 1M arch . . . . j
Jan 1 t o M ch 3 1 ........ ...............................................
1 ,0 2 5 ,4 3 0
1 ,0 2 5 ,4 9 2 T a m p a E le ctric C o . F e b r u a r y P o c a h o n ta s C ollierie s— M ch
_______
____ J_
19,357
29,688 Terre H a u te T & L C o F e b ru a ry
J a n 1 t o M ch 3 1 ................................................... .........
5 6 ,849
84,029 T o le d o R y s & L ig h t . M a r c h ____ j 171;
59,
R io G r a n d e J u n c t io n -------F e b
5 8 ,4 8 5
44,8 3 0
n l7 ,5 4 6
n l3 ,4 4 9 T o r o n t o R a ilw a y ____ W k A p r 20j
1 ,3 9 5 ,5 3 6
w in C ity R a p id T ran 12d w k A p r I 107,
D ee 1 t o F eb 2 8 _ . .^ _ _
198 .0 6 8
148 ,525
« 5 9 ,4 2 0
n 44 ,557 T
1 ,1 6 4 ,1 1 6
U n ited R R o f S F ___ F e b ru a ry _ ft50!),
R o c k Isla n d S y ste m . a . . M c h 5 ,2 7 6 ,7 9 5
4 ,1 6 7 .8 7 7
1,4 4 6 ,0 6 9
1 ,0 4 9 ,1 9 5 U n ited R y s t i f St L _ . IM a r c h ____ | 903,
2 ,2 8 6 ,2 9 0
J u ly 1 t o M ch 3 1 . . . . - . 4 4 , 7 2 9 . 3 9 1 3 9 ,3 3 5 ,5 3 2 1 4 ,0 1 8 ,6 4 9
1 1.738,154 W h a tc o m C o R y & L t F e b ru a ry .
__ 4 4 ,3 7 6
25,
St 1/o u ls & San F r . a . - M c h 4 ,4 1 6 ,7 1 8
3 .7 1 6 ,1 8 7
1 ,4 9 7 ,6 8 4
1 ,217,074
a F igures fo r th e m o n th in b o th y e a rs In clu de o p e r a tio n s o f t h e S c r a n to n
J u ly 1 t o M ch 3 1 .............37,1 0 3 ,0 9 1 3 2 .2 9 6 .8 9 8 12,6 6 6 ,7 0 9
1 0 ,8 4 9 ,0 3 5
R y ., a c q u ir e d Jan . 1 1906. 6 F igures are fro m F e b . 1.
c T h e se figu res a re
K v a n s v & T erre H .a . M c h
175 ,496
188,032
73.1 2 9
S2.576 for c o n s o lid a te d com p an y’ , d T h e se a re resu lts fo r m a in line, f N ow In­
J u ly 1 t o M ch 3 1 ____ _
1 ,7 1 9 ,1 2 3
1 ,6 5 6 ,7 5 6
7 8 8 ,7 8 0
750 ,367 clu d es R a p id R y . S y s t .. S a n d w ich W in d s o r & A m h e r s tb u r g R y . a n d D e tr o it
h T h e se are e a rly p r e lim in a r y r e tu r n s ;
T o ta l o f all L i n e s . a - . - M c h 9 ,8 6 9 ,0 1 0
S ,0 7 2 ,0 9 7
3 ,0 1 6 ,8 8 2
2 ,3 4 8 ,8 4 5 M onroe & T o le d o S h o rt L in e R y .
J u ly 1 t o M ch 3 1 _______8 3 ,6 1 1 ,6 0 6 7 3 ,2 8 9 ,1 8 7 2 7 ,4 7 4 ,1 3 8
2 3 ,3 3 7 ,5 5 6 de cre a se d u e t o e a r th q u a k e , fire a n d strik e a m o n g e m p lo y e e s , A u g . 26 t o
U n ited S tates T e le p h o n e .F e b
32,4 2 6
3 0 ,0 2 2
2 1 ,2 1 3
19,344 S e p t. 5 1906.
Jan 1 t o M ch 3 1 _______
65,372
6 0 ,769
4 2 .7 3 3
38,354
Street Railway Net Earnings.— In the following we show
W e s te rn M a r y la n d -a ____ F e b
4 07 ,049
3 54 ,749
125,121
128,486
• J u iy 1 t o F e b 2 8 _______ 3 ,5 2 7 ,2 3 9
3 .0 3 7 ,9 3 7
1 ,1 3 2 ,7 9 9
974 ,455 both the gross and the net earnings to latest dates of all
STREET railways from which we have been able to procure
a N et earn in gs here g iv e n are a fte r d e d u c t in g ta x e s ,
b N et ea rn in gs here g iv e n are b e fo r e d e d u c tin g ta x e s .
monthly returns. As in the case of the steam roads, the
<1 T h e c o m p a n y n o w In clu d e s earn in gs o f th e D e n ve r E n id & G u lf R R . ,
returns of the different roads are published by us each week
P c c o s V a lley S ystem and S a n ta F e P r e s c o tt & P h o e n ix R y . in b o th y e a r s .




THE CHRONICLE.

992

as soon as received, and once a month we bring together all
the roads reporting, as is done to-day.
--------Gross E a r n ’ gs------. C u rren t . P rev io u s
Y ea r.
Y ear.
R oad s.
$
$
A u ro r a E lgin & C h ic a g o .M c h
101,354
82,0 8 9
J u ly 1 t o M ch 3 1 _______
978 ,042
870 ,1 5 2
B in g h a m to n R y C o ______M ch
2 3 ,338
21,5 6 7
Jan 1 t o M ch 3 1 _______
65,646
61,402
J u ly 1 t o M ch 3 1 _______
2 28 ,748
2 1 4 ,9 3 8
B rock A P Iy m ’th S tR y a F eb
5,485
5 ,401
J a n 1 t o F e b 2 8 _______
11,680
11,137
C a pe B r e to n E l C o . a ___ F e b
15,927
17,622
J an 1 t o F e b 2 8 _______
35,661
3 7,5 2 2
C en tral P en n T r C o ______M ch
56,9 0 3
50,5 2 8
Jan 1 t o M ch 3 1 _______
160 ,972
1 45 ,890
51,841
C h a rleston C ons R y C o - - M c h
56,1 3 5
C h ic & M ilw E le c t C o . . _ M ch
64,114
4 0 ,4 5 3
Jan 1 t o M ch 3 1 _______
179 ,522
1 20 ,489
C levP al n esv & E a s t’n . a - - M ch
18,585
15,450
Jan 1 t o M ch 3 1 _______
52,0 7 3
4 5 ,2 3 8
C lev S ou th w & C o l____ M ch
51,374
42,321
Jan 1 t o M ch 3 1 _______
145,639
128 ,606
87,324
78 ,327
D allas E le tc C o r p . a _____ Jan
D e tr o it U n i t e d __________M ch
C515.764
4 4 5 ,5 3 6
Jan 1 t o M ch 3 1 _______ c l ,437,727
1 ,2 3 5 ,1 6 4
D e tr o it J a ck son & C h ic .M c h
33,125
________
60,178
F e b 1 t o M ch 3 1 _______
D u lu th S treet R y . b ____ F e b
52.8 5 7
50,348
J a n 1 t o F e b 2 8 _______
112,341
104,772
165,411
E a st S t L & S u b u r b a n ___ M ch
148,715
J an 1 t o M ch 3 1 .............
4 7 4 ,5 5 9
4 25 ,725
E l P a so E le c t C o . a ______F e b
36,559
27,797
J an 1 t o F eb 2 8 _______
73,6 0 2
5 5 ,1 4 3
F t W & W ab Val T r C o ..F e b
83,340
71,951
Jan 1 t o F e b 2 8 _______
174,518
152,096
G a lv e sto n E le c C o . a ____ F e b
23,4 3 7
18,300
Jan 1 t o F e b 2 8 _______
4 8 ,9 8 5
37,650
H on olu lu R a p T r & L t C o b F e b
29,702
2 6,911
58,083
Jan 1 t o F e b 2 8 _______
5 4 ,870
H o u g h to n C o St R y . a . - F e b
15,205
1 3,6 7 6
J a n 1 t o F eb 2 8 _______
31,149
28,508
H o u s to n E le c t C o . a ____ F e b
45,278
3 9,2 6 9
J a n 1 t o F e b 2 8 .............
95,371
8 2 ,3 4 6
Illin o is T r a c tio n C o . a ___ F e b
262 ,363
2 12 ,2 7 2
5 41 ,440
Jan 1 t o F e b 2 8 _______
4 4 9 ,3 2 0
J a c k s o n C on sol T r C o ___F e b
9,3 2 3
9,055
M a y 1 t o F e b 2 8 .............
125 ,566
1 12 ,067
J a c k s o n v ille E le c C o . a . - F e b
3 0 ,0 0 6
22,371
J an 1 t o F e b 2 8 _______
6 1 ,733
4 7 ,2 8 4
K a n sa s C ity R y & L t . b - F e b
423 ,5 0 9
386,751
J u n e 1 t o F e b 2 8 ............. 4,2 7 5 ,1 5 1
3 ,8 5 8 ,1 2 0
L e x in g t o n & I n t e r u r b a n .F e b
35,267
3 0 ,509
Jan 1 t o F e b 2 8 _______
75,032
68,3 1 6
M an ila El R y & L t C o . . M ch
7 8 ,0 0 0
72,5 0 0
Jan 1 t o M ch 3 1 _______
2 29 ,000
2 20,880
M a ssach u setts E le c tr ic C o s . b —
Jan 1 t o M ch 3 1 _______ 1,5 2 6 ,5 2 3
1,4 5 8 ,3 9 9
O c t 1 t o M ch 3 1 . ...........3 ,2 4 1 ,1 4 2
3 ,0 8 7 ,3 9 3
M ilw E lec R y & L t . b ___ M ch
305 ,419
274 ,0 2 6
Jan 1 t o M ch 3 1 _______
887,681
804 ,5 5 9
M ilw L t H t & T r C o . b . - M c h
54,205
44,785
Jan 1 t o M ch 3 1 _______
1 56,279
130,435
M on trea l S treet R y ______M ch
2 71,5 8 8
235 ,3 0 7
O ct 1 t o M ch 3 1 _______ 1,5 9 9 ,0 4 8
1 ,4 0 6 ,3 2 2
N ew O rleans R y & L t . b . F e b
5 35 ,3 3 8
506 ,508
1 ,0 0 5 ,0 8 6
J an 1 t o F eb 2 8 _______ 1 ,0 7 6 ,9 9 2
N o r fo lk & P ’ ts m o u th T r . F e b
128 ,558
116,941
Jan 1 t o F e b 2 8 _______
280 ,5 7 7
243 ,6 0 0
N o rth e r n O h io T r & L t . M c h
133 ,834
1 13 ,167
Jan 1 t o M ch 3 1 .............
375 ,883
334 ,607
N o rth e r n T e x T r a c C o a .J a n
74.953
o 3 ,535
O k la h o m a C ity R y C o - . M c h
19,012
1 1,280
Jan 1 t o M ch 3 1 _______
47,9 2 4
29,553
P eek sk ill L t & R y C o ___ F e b
10,957
9,133
J an 1 t o F e b 2 8 _______
2 3 ,596
19,343
P o r t la n d R y s C o ............... J a n
127 ,584
1 25,617
P u get Soun d El R y .a .- F e b
105 ,775
8 7 ,7 6 6
R io d e Jan T ra m L t & P .M c h
479 ,7 9 7
420 ,871
R o c k fo r d & I n t e r u r b a n .F e b
37,365
3 2 ,685
Jan 1 t o F e b 2 8 _______
7 6 ,814
67,981
S t Jo R y L t H t & P o w C o .- M c h
66,820
65,406
Jan 1 t o M ch 3 1 _______
198 ,230
192,198
S ao P a u lo T ra m L t & P .M c h
183,713
164 ,754
Jan 1 t o M ch 3 1 _______
529 ,147
5 02 ,798
4 3 ,947
S a v a n n a h E le c t C o . a ___ F e b
45,821
J an 1 t o F e b 2 8 .............
8 9 ,3 8 9
9 5 ,439
S c h u y lk ill R y C o . a —
_______
D e c 1 t o F e b 2 8 _______
4 3 ,737
S y r a c u s e R a p T r C o ____ M ch
102 ,087
87,7 6 2
Jan 1 t o M ch 3 1 _______
289 ,6 3 6
252 ,1 3 0
T a m p a E le c C o . a _______ F e b
38,692
35,872
Jan 1 t o F e b 2 8 _______
8 2 ,6 8 6
73,711
T erre H a u te T r C o . a ____ F e b
69,081
54,9 0 2
Jan 1 t o F e b 2 8 _______
145 ,552
114 ,733
T o l R y s & L t C o . a ____ M ch
1 71 ,988
158,285
J a n 1 t o M ch 3 1 _______
496 .416
460 ,149
T w in C ity R a p T r C o . b . M c h
479,301
4 1 8 ,2 5 0
Jan 1 t o M ch 3 1 _______ 1,355,941
1 ,2 0 6 ,5 0 0
U n R y s o f St L o u i s . a .- M c h
9 0 3 ,1 4 5
7 90 ,8 3 8
Jan 1 t o M ch 3 1 _______ 2 ,4 9 4 ,1 6 2
2 ,2 8 6 ,2 9 0
W h a tco m Co R y & L tC o a F eb
2 5 ,7 0 7
2 0,4 0 5
Jan 1 t o F e b 2 8 _______
5 4 ,770
4 4 ,3 7 6

-------N et E a rn in g s ------C u rren t
P rev io u s
Y ear.
Y ea r.
$
$
43,701
26,7 3 4
3 9 2 ,2 8 2
44 6 ,5 8 2
9,8 1 7
10,235
25,0 6 4
25 ,295
1 0 3 ,0S7
104 ,876
14
236
375
178
3 ,5 4 9
5,9 4 9
13,326
9,440
10,644
678
18,681
6 ,7 0 9
1 9,0 0 6
20,008
18,234
3 1 ,713
54,527
84,083
8,6 3 8
5,581
21,9 3 3
17,653
20,6 8 2
15,010
56 ,520
46 ,765
26,9 7 2
16,1 5 9
C193.811
170 ,006
c4 9 6 ,1 8 5
4 7 5 ,0 8 0
7,1 0 5
________
12,213
19,9 5 4
2 0 ,6 2 6
45,8 3 5
4 1 ,3 2 8
7 6 ,8 8 5
7 1 ,3 7 6
2 14 ,697
2 0 6 ,3 9 8
6,592
9,2 6 0
16,854
14,933
3 1 ,0 7 0
27,423
5 9 ,837
67,4 5 3
8 ,0 3 4
4 ,5 9 4
17,042
9 ,9 7 7
13,268
11,661
2 5 ,210
2 2 ,6 3 4
1,962
1,001
2 ,2 6 9
2 ,4 8 6
14,232
11,458
31,098
24,398
1 15 ,159
95,718
2 29 ,5 0 4
2 06 ,077
3,299
3 ,121
5 0 ,066
4 3 ,242
9 ,8 1 7
7 ,6 4 7
2 0 ,102
1 8,0 2 3
193 ,195
1 71 ,386
2 ,1 4 8 ,0 9 7
1 ,9 5 4 ,1 9 8
1 0 ,587
7,447
2 3 ,2 1 6
18,552
4 0 ,2 5 0
33,8 5 2
1 15 ,2 5 0
1 06 ,541
3 1 8 ,7 4 2
8 04 ,554
149,421
418 ,371
2 8 ,8 1 0
77,8 2 5
8 6 ,1 2 7
525 ,391
2 9 0 ,1 6 7
5 6 9 ,9 0 2
3 7 ,404
9 2 ,6 3 6
5 0 ,6 1 9
1 40 ,377
28,8 5 7
5,5 1 5
15,523
4,1 7 3
9,714
3 5 ,1 4 8
3 0 ,652
1 58 ,125
14,843
2 9,3 6 2
3 2 ,849
9 2 ,9 5 0
125 .1 3 4
3 5 8 .1 3 4
1 5,724
3 0,5 5 3

3 5 5 ,3 6 2
8 2 6 ,8 9 0
1 3 3 ,9 9 6
3 9 8 ,6 1 1
2 5 ,2 2 4
7 3 ,1 2 7
7 8 ,849
477 ,691
2 6 2 ,1 0 5
5 0 7 ,2 0 2
42,991
8 7,2 3 0
34,581
1 10,235
17,150
4,3 2 3
1 0,008
3,5 2 4
7,8 9 0
4 7 ,8 0 5
20,3 4 5
8 6 ,6 0 5
10,854
22,223
32,019
94,973
107,661
3 3 2 ,4 4 0
16,574
3 4,3 2 9

2 0 ,569
4 5 ,0 8 9
127 ,383
9,3 1 7
22,1 5 8
23,7 0 6
4 9 ,8 5 3
74,9 2 3
210 ,694
2 4 5 ,5 7 0
661 ,6 4 4
306 ,898
7 7 1 ,5 6 6
10,033
2 3,121

37,398
107 ,8 2 6
1 6 ,550
33,980
18,706
3 9 ,3 8 7
73,5 8 3
217 ,1 3 4
2 2 0 ,1 9 4
6 1 4 ,0 8 2
2 69 ,509
8 1 0 ,5 5 2
4 ,8 8 7
12,217

a N et earn in gs here g iv e n are a fte r d e d u c tin g ta x e s ,
b N et earn in gs here give n are b e fo r e d e d u c tin g ta x e s ,
c In clu d es ea rn in gs o f D e tr o it M o n ro e & T o le d o R y . In 1907.

Interest Charges and Surplus.— The following STREET
railways, in addition to their gross and net, earnings given
in the foregoing, also report charges for interest, &c., with
the surplus or deficit above or below these charges:
R oads.
A u ro r a E lgin & C h ic a g o .M c h
J u ly 1 t o M ch 3 1 .............
B in g h a m to n R y C o ____ M ch
J an 1 t o M ch 3 1 _______
J u ly 1 t o M ch 3 1 .............
B r o c k & P ly m ’ th St R y . F e b
Jan 1 t o F e b 2 8 . . . . . .




— I n t ., R en tals, & c .—
C u rrent
P rev io u s
Y ear.
Y ear.
$
$
26,992
2 4 ,1 0 6
2 37 ,310
219,201
8,178
7,4 3 7
24,182
22,184
70,468
65,573
1,795
1,864
3,5 2 7
3,6 0 9

— B a l. o f N et E 'n a s .—
C u rrent
P rev io u s
Y ea r.
Y ea r.
$
$
16,709
2,6 2 8
209 ,2 7 2
173 ,084
2,057
2,380
882
3,111
34,408
37,514
d e f 1,781
d e f l ,628
d e f3 ,1 5 2
d e f3 ,4 3 1

[V o l . l x x x iv .

— I n t .. R en tals, & c .----------B a l. o f N et E a r n .—
C u rren t
P rev io u s
C u rrent
P rev iou s
Y ear.
Y ea r.
Y ea r.
Y ear.
R oads.
$
$
$
$
C ape B r e to n E le c C o . . . .F e b
4,3 7 7
def701
4,2 5 0
1,572
Jan 1 t o F e b 2 8 8,7 7 2
940
4 ,5 5 4
8 ,5 0 0
C h arleston C on s R y C o . .M c h
7,041
1 3 ,5 1 7
12,967
5,4 8 9
C lev P a ln e s v & E a s t’ n . .M c h
d e f l ,261
7 ,2 1 3
1,425
6,8 4 2
J a n 1 t o M ch 3 1 2 1 ,6 3 8
295
d e f2 ,5 4 6
20 ,199
D allas E le c t C o r p ____
Jan
12,033
def391
1 6 ,5 5 0
14,939
2:69,977
M
ch
______
c
l
l
6
,
2
3
9
CZ82.210
D e tr o it U n ite d _
103,775
Jan 1 t o M ch 3 1 .
£19 8,05 1
C 3 32.677
288,314 02:177,132
D e tr o it Ja ck so n & C h ic .M c h
d e f7 ,7 5 4
1 5 ,0 1 2
____ ____
F e b 1 t o M ch 3 1 d e fl7 ,5 1 7
3 0 ,0 2 5
3 ,1 7 5
D u lu th S treet R y ______ F eb
17,529
2,425
17,450
Jan 1 to F eb 2 8 .
35,1 0 4
6,3 4 2
34,9 8 6
10,731
E l P a so E le ct C o . . ___ F e b
4 ,5 6 4
5,502
3,758
2,028
Jan 1 t o F e b 28
9,0 3 2
9,347
7,507
5,901
G a lv e s to n E le c t C o
Feb
4,167
427
4,1 6 7
3,8 6 7
Jan I t o F e b 28
8 ,3 3 4
1,643
8 ,3 3 4
8 ,7 0 8
H o n o lu lu R a p T r & L t C o F e b
6 ,3 9 4
5 ,0 8 0
,377
2:7,168
J u ly 1 t o F e b 2 8 _______
12 ,788
1 0,515
*1 3 ,3 6 5
* 1 3 ,2 8 1
H o u g h to n C o S t R y C o . . F e b
3,876
3,824
d e f l ,914
d e f2 ,8 2 3
J a n 1 t o F e b 28 . .
7,835
d e f 5 ,566
d f 5,2 3 6
7,7 2 2
H o u s to n E le c t C o ______ F e b
6,211
3,729
8,021
7,7 2 9
J an 1 t o F e b 2 8 - .
15,816
15,902
15,282
8 ,4 9 6
J a c k s o n C on sol T r C o - - .F e b
2,9 6 6
2,7 9 6
333
325
M ay 1 to F eb 2 8 ..
29,141
20,925
15,500
27,742
J a c k s o n v ille E le c t C o . .F e b
3,475
4,3 2 2
3,325
6,342
Jan 1 t o F e b 2 8 . .
6,950
13,152
11,373
6,650
K an sas C ity R y & L t . . -F e b
146,876
133,969
37,4 1 7
46,319
Ju n e 1 t o F e b 28
1,2 2 9 ,1 5 5
1,312,011
836 ,086
725 ,043
M assachusetts E le ct C os
Jan 1 t o M ch 31
43 6 ,1 5 2
407 ,398 d e f ll 7 „ 4 1 0
d ef5 2 ,0 3 6
O c t 1 t o M ch 3 1 . .
846 ,443
792 ,628 d e f4 1,889
34,262
M ilw E lec R y & L t C o . .M c h
95,751
89,017
2:48.429
X57.405
Jan 1 t o M ch 3 1 . .
280 ,267
259 ,326
X153.012
2:147,558
M ilw L t H t & T r C o . . . M ch
30,509
24,502
z d e f l .631
2:790
Jan 1 t o M ch 31
90,147
68,194 x d e f l 2 ,l 18
2-5,137
M on treal S treet R y ____ M ch
43,2 1 2
39,663
42 ,915
3 9 ,186
O c t 1 t o M ch 3 1 . .
286 ,513
238 ,878
178,625
299 ,066
N ew O rleans R y & L t . _ - F e b
129 ,766
160,401
148,471
113 ,634
246,941
Jan 1 to F eb 2 8 _ .
322,961
296 ,162
2 11 ,040
4 1 ,2 9 0
39,9 4 7
9,329
N o r O h io T r & L t C o ____ M ch
d e f 5 ,366
Jan 1 t o M ch 3 1 . .
124 ,029
119,841
16,348
d e f9 ,6 0 6
N or T e x T r a c C o ______
Jan
10,138
18,719
9,942
7,2 0 8
P u g e t S o u n d E le c t R y . .F e b
2 9 ,552
2 3 ,800
1,100
d e f3 ,4 5 5
_______ _
________
R io d e Jan T ra m L t & P . M ch
104 ,166
53,959
S a v a n n a h E le c t C o ____ F e b
11,335
10,904
4,3 8 9
5,670
Jan 1 t o F e b 28 . .
23,022
21,808
7,531
12,521
S ch u y lk ill R y C o—
D ec 1 to F eb 2 8 . 17,125
3,444
S y ra cu se R a p T r Co
2 5 ,185
22.386
1 1 9 ,9 5 8
2:15,470
Jan 1 t o M ch 31
74,904
66,2 3 6
2:52,641
2:43,090
T a m p a E le c t C o _______ .F e b
994
N il
16,550
8,3 2 3
Jan 1 t o F e b 2 8 . .
1,954
N il
20,204
33,980
T e rre H a u te T r C o - .
15,207
F eb
8 ,4 9 9
12,632
6 ,0 7 4
Jan 1 t o F e b 2 8 - 30,051
2 3 ,049
19,802
16,338
45 ,337
T o le d o R y s & L t C o ____ M ch
42 ,200
29,5 8 6
3 1 ,3 8 3
Jan 1 t o M ch 3 1 . .
134 ,730
126,794
7 5 ,9 6 4
9 0 ,3 4 0
T w in C ity R a p T ra n C o . M ch
115 ,258
109 ,708
130 ,3 1 2
1 1 0 ,4 8 6
Jan 1 t o M ch 31
345 ,775
3 29 ,125
315 ,869
284 ,952
M ch
U n R y ? o f S t L o u is
23 1 ,4 7 5
230 ,8 6 8
38 ,034
76,0 3 0
Jan 1 t o M ch 3 1 . .
6 9 3 ,7 3 3
695,521
7 7 ,8 3 3
115,031
W h a t c o m C o R y & L tC o .F e b
3,904
6.198
983
3,835
Jan 1 t o F e b 28
12,412
7,808
4.4 0 9
10,709
x A ft e r a llo w in g fo r o th e r in c o m e r e c e iv e d .
c In clu d e s e a rn in g s o f D e tr o it M o n ro e & T o le d o in 1097.

A N N U A L REPOR TS.
Annual Reports.— The index to annual reports is omitted
this week because of the publication of the “ Railway and
Industrial” section, which contains references to the reports
of the principal steam railroads and industrial companies
printed in the “ Chronicle,” not including to-day’s issue.
Philadelphia Baltimore & Washington RR.
(Report for Fiscal Year ending Dec. 31 1906.)
President James McCrea, Philadelphia, March 11 1907,
says in substance:
Statistics.— T h ere w as an in crea se In th e n u m b e r o f to n s ca rrie d o f 8.03 % ;
In to n n a g e m ileage o f 9.61 % ; an d fre ig h t tra in m ileag e o f 1 1 .5 5 % .
The
n u m b e r o f passengers ca rried in crea sed 10.45 % ; th e pa sse n ge r m ileage
in crea sed 8 ,6 1 % ; a n d th e p assen g er tra in m ilea ge Increased 4 . 5 4 % .
The
gross earnings p er to n p e r m ile w ere 0.9 5 4 c e n ts , a decrease o f 0.31 % , an d
th e gross earnings p er p assen ger p er m ile w ere 2.0 1 7 c ts , a de cre a se o f 0.0 5 %■
General R esu lts.— T h ere w as a c o n tin u e d Increase in th e v o lu m e o f the
fre ig h t a n d passen ger tr a ffic an d In th e re v e n u e th e r e fr o m , a lth o u g h there
w as a slig h t d ecrease In th e ra te p er to n and p e r passen ger p er m ile . A ft e r
d e d u c tin g rentals d u e ro a d s o p e r a te d u n d e r lease, a n d p r o v id in g fo r all
fixed ch arges, ta x e s an d o th e r lia b ilitie s, th ere w as a n e t In co m e o f $ 2 ,7 8 2 ,5 5 2 .
O u t o f this there w ere p a id t w o d iv id e n d s o f 2 % e a ch , le a v in g a
ba la n ce o f $ 1 ,8 4 2 ,8 1 0 , w h ich w as a p p lie d to w a rd th e e x tr a o r d in a r y e x p e n d i­
tures o f th e y e a r.
Con struction , & c .— T h e a g greg ate c o n s tr u c tio n , e q u ip m e n t a n d real e sta te
e x p e n d itu re s w ere $ 4 ,5 4 6 ,3 9 0 , as fo llo w s :
R ig h t o f w a y ____________________________________________________________ $49 ,667
G ra y 's F e rry , e n g in e -h o u se , m a c h in e -s h o p , t r a c k , & c ______________
54,7 2 5
E x ten sion o f E d g e m o o r y a r d ____________________ _____________________
81,9 6 8
W ilm in g to n , E le v a te d line and J u stison St. y a rd ($ 5 8 8 ,3 4 4 );
passenger sta tio n ($ 2 0 3 ,6 8 2 );
p o w er-h ou se, & c. ($1 9 ,9 3 3 )
8 11 ,959
H a v re-d e-G ra ce, n ew lin e, b rid g e , passenger s ta tio n s at P erry v llle
and H a v re -d e -G ra ce , & c -------------------------------------------------------------------- 7 1 0 ,0 3 8
W a sh in g to n , M agruder b ra n ch ($ 1 7 8 ,2 2 8 ): M on ta n a A v e . t o F lo r ­
id a A v e ., in clu d in g c o a c h y a rd ($ 4 8 5 ,9 6 4 ); elev a ted g ra d e,
S ou th C a p ital t o 4
S t. ($ 3 5 5 ,7 8 5 ); e lev a ted an d M arylan d
A v e s u b w a y , freigh t y a rd s a n d othe.* im p ro v e m e n ts ($ 3 7 9 ,0 2 3 ).1 ,3 9 9 ,0 0 0
I n t e r lo c k in g ____________________________________________________________
93 ,645
W a te r s u p p l y _____________________________________ ______ ______________
366 ,182
111,693
M is c e lla n e o u s ________________________________________________ ______ ____
R e -b u ild in g p o o l fre ig h t ca rs, sh op t o o ls , & c ________________________
73,063
R e a l e s t a t e _____________________________________________________________
7 9 4 ,4 5 0
A fte r a p p ly in g surplus In com e o f $ 1 ,8 4 2 ,8 1 0 to w a rd th is e x p e n d itu r e ,
there rem ain ed a b a la n ce o f $ 2 ,7 0 3 ,5 7 9 , w h ich w as d is trib u te d as fo llo w s:
C h arged t o ca p ita l a c c o u n t — c o s t o f ro a d , $ 1 ,8 9 9 ,5 8 4 , a n d real esta te
7 9 1 ,1 9 6 ; ch a rg e d to c o n s tr u c tio n o f revised line th ro u g h W a s h in g to n ,
D . C ., $12 ,7 9 9 . T h e charges to ca p ita l a c c o u n t rep resen ted e x p e n d itu re
fo r real esta te and rig h t o f w a y , a p o r tio n o f th e c o s t o f th e tw o -tr a c k
elev a ted ro a d th rou gh W ilm in g to n an d o f th e new passen ger sta tion at
th a t p o in t, the co m p le tio n o f th e n ew brid g e a n d revised line at H a v re-d eG race and o f th e M agruder b ra n ch , th e c o n stru ctio n o f th e Joint co a c h y a rd , ro u n d -h ou se an d sh op s, an d o f a d d ition a l tra ck s, la c o n n e c tio n w ith
th e n ew passen ger sta tion at W a sh in g to n , in crea sed freig h t fa cilities In
th a t c it y an d at o th e r p o in ts , an d p erm a n en t w ater su p p ly , j

THE CHRONICLE.

A p r . 27 1907.]

M e rg er .— Y o u r c o m p a n y , b e in g th e o w n e r o f all th e ca p ita l s t o c k o f th e
S ou th C h ester R R ., a bra n ch a b o u t 3 % m iles In le n g th , a cq u ire d th e sam e
a n d co n so lid a te d It w ith y o u r m a in lin e on F e b . 9 1906. T h e ch arge t o
ca p ita l a c c o u n t re su ltin g th e r e fr o m , $22 9 ,7 0 0 , app ears In th e c o s t o f
roa d o n ou r ba la n ce sh eet.
E lim in a tion o f Grade Crossings in W ashington, D . C .— T h e fu rth e r su m
o f $59 6,40 7 w as e x p e n d e d d u rin g th e y e a r u p o n th e re v isio n o f y o u r lin e
th rou g h th e c it y o f W a s h in g to n fo r th e p u rp o s e o f e lim in a tin g g ra d e cr o s s ­
in g s, o f w h ich $58 3,60 8 w as p r o v id e d fo r o u t o f y o u r surplus I n c o m e . T h e
sum o f $ 1 ,5 0 0 ,0 0 0 Is ca rried o n y o u r b a la n ce sheet t o th is a c c o u n t , u n til
th e r e c e ip t o f th a t a m o u n t fro m th e G o v e rn m e n t In pu rsu a n ce o f th e
a p p ro p ria tio n h e re to fo re m a d e fo r th a t p u rp o se b y A c t o f C on gress.
W ashington S ta tion .— T h e w o rk u p o n th e term in a l s ta tio n has been
stea d ily p ro s e cu te d d u rin g th e y e a r . A v e r y large p r o p o r tio n o f th e steel
w o rk an d m a s o n ry is in p la ce , and th e c o n s tr u c tio n o f th e tra in sh ed an d
a p p roa ch es and o f th e jo in t co a c h y a r d , r o u n d -h o u se an d sh ops is u n d e r w a y .
Stock H old in gs.— O ur h o ld in gs o f s to c k in th e B a ltim o re & O h io R a ilr o a d
C o . h a v e in crea sed b y reason o f th e a llo tm e n t m a d e b y th a t c o m p a n y at
p ar d u rin g th e y ea r (an d on D e c. 31 1906 in clu d e d at p a r $ 1 ,0 0 0 ,0 0 0 p r e ­
ferred s to c k an d $ 1 ,0 4 8 ,7 0 0 c o m m o n s t o c k — E d .)
T h e S o u th C h ester R R .
h a v in g been a cq u ir e d , Its s to c k n o lo n g e r app ears as an asset.
S in k in g F u n d fo r D eb en tu res.— T h e sin kin g fu n d fo r th e $ 1 ,0 0 0 ,0 0 0 o f 5 %
d eb en tu res o f J u n e 1 1880 h a v in g reach ed such an a m o u n t th a t th e p rin cip a l
an d in terest o f th e secu rities n o w held In th e fu n d w ill b e m o r e th a n s u fficie n t
fo r th e p a y m e n t o f th a t loan at th e m a tu r ity th e r e o f in 1910, fu r th e r p a y ­
m e n ts in to th e fu n d h a v e been d is c o n tin u e d .
N ew F reig h t C a rs.— E ig h t n ew c a b in and 90 n e w g o n d o la cars w ere b u ilt
o r p u rch a sed t o rep lace cars d e s tr o y e d , and 150 b o x and 102 g o n d o la cars
w ere acq u ired th ro u g h th e P e n n sy lv a n ia steel fre igh t c a r tr u s t, t o r e p la ce
a like n u m b er o f o ld lo w -c a p a c ity freigh t cars d e s tr o y e d .
C ontrolled P rop e r tie s .— T h e D elaw are R R . sh ow s a su bstan tial in crea se
b o th in gross an d n e t earn in gs, and a fte r p a y in g all fix e d ch arges and
d iv id e n d s a g g reg a tin g 7 % , it w as ab le t o tran sfer $29 7,96 6 t o an e x t r a ­
ord in a r y e x p e n d itu r e fu n d , t o c o v e r fu tu re b e tte r m e n ts an d Im p ro v e m e n ts.
T h e P h ila d elp h ia & B a ltim o re C entral R R . show s in crea sed gross ea rn ­
in g s, b u t a g reater in crea se in exp e n se s, so th a t th ere w as a d e fic it o f
$40,021 In m eetin g all ch arges.
T h e P h ila d elp h ia & D elaw are C o u n ty R R . sh ow s a surplus o f $19 ,310
a lte r m e e tin g all charges.
T h e D elaw are M aryland & V irg in ia R R . sh ow s a d e fic it o f $ 13 ,178 in
m e e tin g its liab ilities.
T h e op e r a tio n o f th e C o lu m b ia & P o r t D e p o sit R y . w as seriou sly in t e r ­
fered w ith u n til A u g . 1 1906 b y th e co n s tr u c tio n o f the lo w -g ra d e fre ig h t
line o f th e P e n n sy lv a n ia R a ilr o a d C o ., b u t th e C o lu m b ia & P o r t D e p o s it C o .
h as been p r o p e r ly co m p e n s a te d fo r th e loss o f t r a ffic a n d re v e n u e re su ltin g
th e r e fr o m .
T h e B a ltim ore C h esapeake & A tla n tic R a ilw a y C o . sh ow s a c o n sid e ra b le
increase In gross earn in gs, and p a id d iv id e n d s a g g re g a tin g 5 % u p o n Its
preferred s t o c k d u rin g th e y e a r o u t o f surplus ea rn in gs.
T h e M a ryla n d
D ela w a re & V irg in ia R a ilw a y C o . w as u n a ble t o m e e t Its fix e d ch arges, an d
an a d v a n c e o f $75 ,0 0 0 w as m a d e t o it for th a t p u rp o s e b y th e B a ltim o re
C h esapeake & A t la n t ic R a ilw a y C o ., w h ic h is th e g u a ra n to r u p o n its b o n d s ,
an d ow n s a m a jo r it y o f Its s to c k .
O P E R A T IO N S A N D F IS C A L R E S U L T S .
O perations—
1906.
1905.
1904.
706
706
708
M iles o p e r a t e d ____ _____________________
P assen gers c a r r i e d ____________________ 1 1,595,975
10,498,721
9 ,9 1 0 ,7 6 8
P assen gers carried o n e m ile .._________ 3 4 7 ,868 ,02 1 32 0 ,2 9 6 ,9 4 5 2 9 2 ,9 2 8 ,6 0 4
R a te p er passen ger p e r m ile ___________
2.017 c t s .
2.018 c ts .
2.015 c t s .
T o n s c a r r ie d ____________ __________ _____ 1 3 ,756,835
12,734,681
1 1 ,2 8 5 ,1 7 8
T o n s carried on e m ile . . _______________79 5 ,1 2 2 ,6 5 5 7 2 5 ,4 1 1 ,9 9 3 676 ,5 7 9 ,3 7 1
R a te p e r to n p er m ile __________________ 0.9 5 4 c t s .
0 .9 5 7 c ts .
0.9 5 7 c ts .
E a rn in g s—
$
$
$
F reigh t t r a f f i c ........ ......................................
7,5 8 9 ,0 6 1
6 ,9 4 4 ,0 0 7
6 ,4 7 4 ,5 3 2
7 ,0 1 5 ,9 5 9
6 ,4 6 5 ,0 9 5
5,9 0 3 ,9 4 7
P assen ger t r a f f i c . . ___________________
E x p ress t r a ff ic __________________________
695,501
6 53 ,352
613 ,459
T ra n sp o rta tio n o f m a ils _______________
4 4 4 ,4 9 5
408 ,481
366,241
M iscella n eou s_______ _____________ ______
196,225
2 05 ,269
1 6 7 ,.'7 8
T o ta l e a rn in g s ___________________
E x p en ses—
M ain ten an ce o f w ay and s tr u c tu re s .
M ain ten an ce o f e q u i p m e n t _________
C o n d u c tin g tr a n s p o r ta tio n , t r a f f i c ..
C o n d u c tin g tr a n s p o r ta tio n , o p e r ___
G eneral ex p e n s e s ______________________

1 5,941,241

1 4 ,6 7 6 ,2 0 4

1 3 ,5 2 5 ,7 5 7

1,8 9 7 ,4 2 3
2 .5 8 5 ,1 0 2
290 ,3 2 0
6 ,5 5 0 .9 0 5
2 7 6 ,2 3 7

1 ,710,094
2 ,3 7 8 ,7 9 8
2 62 ,490
6 ,1 9 3 ,6 5 1
2 57 ,899

1 ,5 2 5 ,0 5 4
2,0 3 6 ,3 7 8
249,397
5 ,9 2 1 ,0 9 3
2 58 .049

T o ta l e x p e n se s ----------------------------Per ce n t o f exp en se s t o e a rn in g s____
N et e a rn in g s _________________________
D e d u c t ren tals on basis o f n e t e a r n s .

1 1,5 9 9 .9 8 7
(72.77)
4 ,3 4 1 ,2 5 4
8 3 2 ,9 8 8

1 0,8 0 2 ,9 3 2
(73.61)
3 ,8 7 3 ,2 7 2
7 51 ,5 2 6

9 ,989,971
(73.86)
3 ,5 3 5 ,7 8 6
8 74 ,068

B a l a n c e _____ __________________ _
Add—
In terest on in v e s tm e n ts _______________
In te r e st— general a c c o u n t ___________
In terest on e q u ip m e n t________________
R e n t s ___________________________________

3 ,5 0 8 ,2 6 6

3 ,1 2 1 ,7 4 6

2 ,6 6 1 ,7 1 8

682 .2 2 0
__________
35,881
58,455

6 5 6 ,0 0 9
30,577
4 0 ,906
77,447

553 ,933
8,027
4 3 ,8 6 6
7 8 ,106

T o ta l n e t in c o m e ................................
A p p lic a tio n o f N et In com e—
F ix e d ren ta ls___________________________
In terest o n b o n d s ........................... ............
In terest— general a c c o u n t ____________
In terest on m tges. an d g ro u n d r e n t s ..
T a x e s __________________________ ________
M iscella n eou s___________________________
D iv id e n d s , 4 %
E x tr a o r d in a r y e x p e n d itu r e s __________

4 ,2 8 4 ,8 2 2

3 ,9 2 6 ,6 8 6

3 .3 4 5 .6 5 0

4 9 ,7 8 5
9 0 0 ,0 0 0
157 ,3 0 8
12,7 4 7
3 7 3 ,7 0 2
8,7 2 8
9 3 9 ,7 4 2
1 .8 4 2 ,8 1 0

4 9 ,9 4 8
900 ,0 0 0

49,912
876 .909

12"747
285,659
24,567
939 ,742
1 ,7 1 4 ,0 2 3

12,769
262,411
23,569
939 ,5 6 6
1 ,1 8 0 513

3 .3 4 5 .6 5 0
4 ,2 8 4 ,8 2 2
3,9 2 6 ,6 8 6
T o t a l . . . ............................................
G EN ER AL B A L A N C E SH EE T D ECE M BE R 31.
1905.
1906
1906.
1905.
1
Assets—
$
$
S
$
1 Liabilities—
C ost o f road______ 36,806.422 34.677,1381 S t o c k ------------------ :23,493.550 23,493,550
Real e s t a t e ______ 1,801,431 1,010,2341 Funded d e b t_____ :20,000,000 20.000.000
E q u ip m en t______ 4,566.563 4,566,563 iMtges. and ground
R ev’ d line through
rents___________
200,973
200,973
W ashington____ 1,500,000 1,487.201! Pay-rolls & v ou ch . 1,689,620 1,452,277
Stocks o w n e d ____ 7,404.451 7.379,9321 Int. accrued, not
209.900
m atured_______
209,900
Bonds ow ned_____
643.3191
606.319
controlled
N et traffic balance
143,867 ! Due
28.817
I com panies_____ 1,190,747
Due from other cos.
925,018
Accounts payable. 5.263,826 4 750.000
<fec., other than
500,000
500,000
traffic balances.
302,210 ! Sinking fund .........
586,543
D ue from agen ts-.
609,891
518,318! Car trust principal
55,326
Materials on hand. 1,252,490
628,024 1 charged o ff_____
______
246.554
678,821 3,375.071 ' Taxes, await, sett.
C a sh .......................500,000
500,0001 M iscellaneous____
16,069
12,652
Sinking fund-------M iscellaneous-----39,072
30.568 1Profit and loss____ 3,514.255 3.718,074
T o t a l . ............... 56,380,820 55,262.445 I
— V. 84. p. 749.

T o ta l.................... 56,380,820 55,262,445

Tennessee Coal, Iron & Railroad Co.
(Report for Fiscal Year ending Dec. 31 1906.)
The report for the year 1906, to be cited more fully next
week, shows results for the year as follows:
1906.
1905.
G ross sales an d e a r n in g s --------------------- $ 1 3 ,265 ,97 1 $ 1 0 ,9 5 1 ,9 7 9
E x p . repairs an d m a in te n a n c e _______ 1 0,512,811
8 ,4 6 7 ,8 4 0

1904.
$ 9 ,6 0 7 ,5 7 8
7 ,7 4 4 ,9 4 7

N e t ................................... ............................$ 2 ,7 5 3 ,1 6 0
$ 2 ,4 8 4 ,1 3 9
$1,862,631
D e p r e c ’ n , ren ew als an d rep la cem en ts
7 7 0 ,6 7 8
6 2 5 ,0 9 0
534 ,789
B a l a n c e ...................................................... $ 1 ,9 8 2 ,4 8 2
a C harges (less m lscell. I n c o m e )______
895 ,145

$ 1 ,8 5 9 ,0 4 9
8 3 0 ,7 6 5

$1,3 2 7 ,8 4 2
831 ,583

Surplus ......................................................
D iv id e n d s on c o m m o n s to c k , 4 % ____
D iv id e n d s on preferred s to c k , 8 % ___

$ 1 ,0 2 8 ,2 8 4
$ 9 0 2 ,1 1 6
19,786

$49 6,25 9
__________
19,006

$ 1 ,0 8 7 ,3 3 7
$95 0 ,4 9 2
9 ,9 6 4

B a l a n c e ......................................................
$ 126,881
$ 1 0 6,38 2
$47 7,25 3
a M iscella n eou s In com e In 1906 a m o u n te d t o $ 5 2 ,8 2 9 .— V , 8 4 , p . 275 .




993

United Railways & Electric Co. of Baltimore.
(Report for Fiscal Year ending Dec. 31 1906.)
President Wm. A. House, April 10 1907, says insubstance:
G en eral R esu lts.— T h e gross e a rn in g s h a v e in cre a s e d $ 5 5 9 ,4 0 4 , o r 9 .2 9 % ;
o p e r a tin g e x p e n se s (a fte r d e d u c t in g e x tr a o r d in a r y e x p e n d itu r e s o f $92 9,76 2
fo r th e y e a r 1905) In creased $ 3 8 5 ,4 1 2 , o r 1 3 .5 9 % .
T h e in crea se In fix e d
ch arg es w a s $ 1 3 5 ,5 2 0 , o r 6 .0 8 % .
D e cre a se in a m o u n t ca r r ie d t o su rp lu s
fo r th e y e a r $ 9 ,7 6 6 .
T h e Increase in o p e r a tin g e x p e n se s w as m a in ly d u e
t o Increased c a r s e r v ic e a n d t o a d v a n c e in rates o f w a g e s; also in p a r t t o
in cre a se d c o s t o f m aterials a n d s u p p lie s. F ix e d ch arges w e re in crea s ed b y
th e Interest o n c a r tru st ce rtifica te s series “ B ” a n d “ C ,” in te rest o n th e n e w
fu n d in g b o n d s an d Increase In p a rk a n d o th e r ta x e s .
T h e p e r c e n ta g e o f o p e r a tin g e x p e n se s t o gross earn in gs w as 4 8 .9 3 % , a s
c o m p a r e d w ith 4 7 .0 5 % in 1905. T h e a v e ra g e earn in gs p e r c a r m ile w ere
25.3 0 c e n ts , an Increase o f 1.60 c e n ts , a n d th e c o s t o f s e r v ic e 12 .3 7 c e n t s ,
an Increase o f 1.22 c e n ts .
T h e n u m b e r o f c a r m iles ru n w as 2 6 ,0 3 5 ,3 2 7 ,
a n Increase o f 603 ,951 m iles.
T h e to t a l n u m b e r o f re ve n u e passengers c a rrie d w as 1 3 3 ,7 8 5 ,6 0 1 , an In­
crease o f 1 1 ,4 6 7 ,1 6 3 .
W h ile th e earnings sh o w a g r a t ify in g in cre a se , as c o m p a r e d w it h 1 9 0 5 ,
th e u n u su a lly fre q u e n t a n d h e a v y r a in s, w h ic h o c c u r re d d u r in g th e su m m e r
o f 190 6, g r e a tly In terfered w ith e x c u r s io n tr a v e l, th e a m o u n t o f p r e c ip it a ­
t io n d u rin g th e th ree m o n th s — Ju n e 1 t o A u g . 31— b e in g 19.10 In ch es.
F in a n cia l P la n .— T h e m o s t Im p o r ta n t e v e n t o f th e y e a r w as th e a d o p tio n
o f th e fin a n cial p la n (V . 83, p . 1 5 6 ).
F irst— T h e fu n d in g o f in c o m e c o u p o n s t o an d in c lu d in g th e y e a r 191 0.
A t th e tim e o f w ritin g th is r e p o rt th e h old ers o f $ 1 3 ,5 8 4 ,0 0 0 o u t o f a to t a l o f
$ 1 3 ,9 4 0 ,0 0 0 o f th e b o n d s h a v e a c c e p te d th e p la n .
I t Is a p p a re n t th a t u n d e r th e fu n d in g a g re e m e n t th e m o n e y b e c o m e s
a v a ila b le fo r im p ro v e m e n ts o n ly as e a rn e d .
I t has b e e n d e e m e d e x p e d ie n t ,
h o w e v e r , t o press th e p lan s fo r im p ro v e m e n ts , a n tic ip a tin g th e c o m p a n y ’ s
In co m e b y In cu rrin g a flo a tin g d e b t a n d re tirin g it a t c o n v e n ie n t p e r io d s .
S e c o n d — T h e M a ry la n d E le c t r ic R a ilw a y s C o ., th e M a ry la n d E le c t r ic
R a ilw a y C o . (ch a rte re d b y frie n d ly Interests in th e sp rin g o f 1906) a n d th e
B a ltim o re & A n n a p o lis S h o rt L in e w e re c o n s o lid a te d o n A u g . 7 1906 u n d e r
th e n a m e o f th e M a ryla n d E le c t r ic R a ilw a y s C o. T h e c o n s o lid a te d c o m ­
p a n y a u th o r iz e d an Issue o f $ 8 ,0 0 0 ,0 0 0 first m o rtg a g e 5 %
2 5 -y e a r -g o ld
b o n d s , th e p r o c e e d s o f w h ic h , w h e n s o ld , are t o b e u se d o n ly fo r th e p u r p o se
o f a cq u ir in g c a r h o u se s, term in al sta tio n s, p o w e r h o u se s, e x c u r sio n re s o rts ,
ca rs, ro llin g s t o c k , ra ilw a y e x te n s io n s , tr a c k s , rig h ts o f w a y , fra n ch ises
a n d such o th e r n ece ssa ry b u ild in g s , stru ctu res o r a d d itio n s t o o u r s y s te m
as m a y b e a p p r o v e d b y th e m o r tg a g e tru ste e . T h is p r o p e r t y is leased t o
th e U n ite d a t an a n n u al re n ta l e q u a l t o 6 % u p o n a c tu a l c o s t .
T h e U n ite d
fu r th e r agrees t o p a y as re n ta l, b e g in n in g in 1910, 1 H % p e r a n n u m on th e
a m o u n t o f th e o u ts ta n d in g b o n d s ; also t o p u rch a se th e p r o p e r t y a t m a t u r it y
o f th e b o n d s b y p a y in g an a m o u n t su ffic ie n t t o re tire t h e m , a n d th e m o n e y
p a id as a sin k in g fu n d , in c lu d in g In cre m e n ts, goes to w a rd s th e p u r c h a se
p r ice o f th e p r o p e r t y .
A s p e cia l sin k in g fu n d is p r o v id e d fo r p u rch a ses o f
r o llin g s t o c k , th e lease o f w h ich is lim ite d t o te n y e a rs .
T h e b o n d s are re ­
d e e m a b le at a n y Interest p e r io d at 110 a n d a c c r u e d in te re st.
T h ese b o n d s p r o v e d a n a t t r a c tiv e in v e s tm e n t, an d $ 4 ,0 0 0 ,0 0 0 o f th e m
w e re p u rch a s e d b y a s y n d ic a t e . p a y m e n ts fo r th e s a m e , in b lo c k s o f $ 1 ,0 0 0 ,0 0 0 , t o b e m a d e n o t la te r th a n O c t . 1 1906, F e b . 1 190 7, J u ly 1 1907 a n d
J an . 1 1908 re s p e c tiv e ly .
T h e re m a in in g $ 4 ,0 0 0 ,0 0 0 o f b o n d s , a u th o r iz e d
b u t u n issu ed , w ill rem ain w ith th e tru ste e t o b e issu ed u p o n p r o p e r c e r tifi­
c a te .
(V . 8 3 , p . 8 1 8 , 1470.)
T h e re Is a v a ila b le a t th is d a te fo r n e w i m ­
p r o v e m e n ts $ 1 ,0 3 1 ,6 6 7 u n e x p e n d e d fro m th e sale o f th e first $ 2 ,0 0 0 ,0 0 0
bon d s. \
S a le o f p r o p e r t y .— Y o u r c o m p a n y sh o u ld h a v e a v a ila b le b y J u ly 1 n e x t
f r o m th e sale o f t h e P r a tt S t. site t o th e c it y $ 3 0 9 ,7 3 7 , a n d fr o m th e sale
o f p r o p e r t y n o lo n g e r a d e q u a te fo r o u r uses o v e r $ 3 0 0 ,0 0 0 .
T h ese a m o u n t s ,
w ith th e c o m p a n y ’ s su rplu s, w ill b e a v a ila b le fo r o u r p u rp o se s th is y e a r .
C o n stru ctio n .— D u rin g th e y e a r 1906 n o ch a rges h a v e b e en en te re d t o
c a p ita l a c c o u n t fo r c o s t o f r o a d , e q u ip m e n t a n d real e s ta te , e x c e p t In In ­
s ta n ce s w h e re th e p r o c e e d s o f b o n d s h a v e b e e n u sed t o p r o v id e th e r e fo r .
T h e a m o u n t so c h a r g e d fo r n e w c o n s tr u c tio n a g g re g a te d (net) $ 8 0 ,4 3 7 ,
re p re se n tin g e x te n sio n s a n d d is co u n ts ($16,000) o n b o n d fo r c o n s t r u c tio n .
L a rge sum s w ere e x p e n d e d in b e tte r in g th e c o n d it io n o f r o a d w a y , tr a c k
a n d p o w e r p la n ts , an d In v ie w o f th e in cre a se o f gross r e c e ip ts It w as d e e m e d
e x p e d ie n t t o co n tin u e as ra p id ly as p o ssib le th e p la n s fo r I m p r o v e m e n t.
E x tra o rd in a ry E x p en d itu re F u n d .— In o rd e r t o pre se rv e an a c c u r a te
r e c o r d o f th e c o s t o r r e h a b ilita tin g th e p r o p e r t y , th e re w as o p e n e d a n a c c o u n t
re fe rre d t o herein as “ E x tr a o r d in a r y E x p e n d itu r e s ,” w h ich a c c o u n t In clu d es
e x p e n d itu r e s fo r r e h a b ilita tin g th e p r o p e r t y d is tin g u is h a b le fro m th e c o s t
o f o r d in a r y m a in te n a n ce a n d rep air u n d e r n o rm a l c o n d itio n s o f e f fic ie n c y .
T h e e x tr a o r d in a r y e x p e n d itu r e s fo r th e y e a r w e re $ 1 ,4 3 6 ,6 9 3 , th e d e ta ils
o f w h ic h (as r e p o r t e d b y th e e x p e r t a c c o u n ta n t) are:
T r a c k r e c o n s tru ctio n , I n clu d in g c a s t-w e ld in g ----------------------------------- $59 2,03 5
R e c o n s t r u c t io n o f o v e r h e a d lin es, v ia d u c t s a n d b r id g e s , im proved^
b o n d in g .................... ............................ - - ........................ - .................................... T 2 2 ,802
N e w , an d re co n s tru ctio n o f o ld , c a r h o u se s--------------------------------------104 ,557
H a r fo r d R o a d S u b w a y _________________________________________________
3 4 ,3 9 4
I m p r o v e m e n ts t o p o w e r p la n t ($ 1 5 2 ,1 9 8 ); H a r fo r d R o a d s u b ­
s ta tio n ($ 6 6 ,8 1 6 )........ ........................................................................................ 2 19 ,014
P a y m e n ts o n a c c o u n t o f c a r tr u s ts ------------------------------------------------------- 2 0 9 ,3 6 0
C o n s tr u c tio n a n d r e c o n s tru ctio n o f c a r s --------------------------------------------18,997
1 3 ,879
E x p e n s e in c u r re d in sale o f p r o p e r t y , in fu n d in g c o u p o n s , & c --------In te re s t o n s u n d ry c o n s tr u c tio n lo a n s ------------------------------------------------8 0 ,2 1 5
M iscella n eou s Ite m s--------------------------------------------------------------------------------4 1 .438
O f th e to t a l c o s t o f th is w o r k , $98 0,00 0 has a lr e a d y b e e n c h a r g e d a g a in st
th e n e t in c o m e o f th e y e a r a n d c r e d ite d t o e x tr a o r d in a r y e x p e n d itu r e s
le a v in g a b a la n ce s ta n d in g t o th e d e b it o f e x tr a o r d in a r y e x p e n d itu r e s o n
D e c. 31 1906 o f $45 6,69 3 carried fo r th e p resen t as a d e fe rre d asset.
T a x es .— T h e t o t a l a m o u n t o f t a x e s , in c lu d in g P a rk t a x a n d th e c o s t o f
p a v in g streets d u rin g th e y e a r w as $ 6 5 2 ,8 0 2 , as a ga in st $ 5 6 0,36 8 in 1 9 0 5 ,
an in crea se o f $92 ,4 3 4 .
T ra ck s.— T h e tr a c k d e p a rtm e n t re c o n s tru cte d d u r in g th e y e a r , w ith
s ta n d a rd rails, b o n d in g , fa sten in gs a n d n e w tie s , 31.625 m iles o f sin g le
tr a c k (22.811 c a b le a n d 8 .8 1 4 e le c t r ic ).
T h e S p a rro w s P o in t lin e w a s e x ­
te n d e d fro m J o n e s ’ C r e e k t o B a y S h o re P a rk , 7 .1 6 m iles o f sin g le t r a c k .
In c lu d in g this an d o th e r e x te n sio n s a n d c o n n e c t io n s , there w ere c o n s t r u c te d
8 .6 1 m iles o f n ew tr a c k , o r a gra n d to t a l o f 40 m iles o f sin gle tr a c k c o n ­
s tr u c te d a n d r ce o n s tru cte d d u r in g th e y e a r .
T h e rail b o n d in g w as r e n e w e d
on 71.4 5 9 m iles o f sin gle t r a c k .
T h e F a lk C o m p a n y c a s t-w e ld e d 4 ,0 7 6
rail jo in t s .
T h e c o n v e r s io n o f th e re m a in in g p o r t io n o f th e o ld c a b le s y s te m
o f tra ck s (22.81 m iles) t o e le ctr ic w as c o m p le t e d S e p t. 28 1906.
T h e c o m p a n y n o w op e ra te s 3 9 4 .4 5 4 m iles o f m a in tr a c k , o f w h ic h 171 .8 6 7
are la id w ith “ T ” rails u p o n su b u r b a n lin es a n d 1 7 2 .6 6 6 w ith 9 -in ch gird er
rails, w h ile 49.921 m iles are m a d e u p o f v a rio u s ty p e s o f sm a ller s e c t io n s ,
th e jo in t s u p o n 40 .6 2 m iles o f w h ic h h a v e b e e n c a s t-w e ld e d .
C a rs .— D u rin g th e y e a r th e c o m p a n y has re c e iv e d a n d p la c e d In se r v ic e
100 a d d itio n a l d o u b le -tru ck 4 -m o to r a ir-b ra k e ca rs , 90 o f w h ich w ere b o u g h t
u n d e r c a r tru st (Series " C ” ) an d 10 p u rch a s e d o u tr ig h t fro m th e p r o c e e d s
o f In su ran ce. A c o n t r a c t w as c lo s e d b y th e M a ry la n d E le c tr ic R a ilw a y s
C o. o n N o v . 24 1906 fo r 40 d o u b le -t r u c k s e m i-c o n v e r tib le h ig h -s p eed c a r s ,
a n d o n F e b . 1 i9 0 7 an o r d e r w as p la c e d fo r 40 a d d itio n a l cars o f sa m e t y p e ,
all t o b e leased t o y o u r c o m p a n y . T e n sn o w p lo w s a n d t w o s w eep ers,
p u rch a se d b y th e M ary lan d E le c tr ic R a ilw a y s C o . an d leased t o y o u r c o m ­
p a n y , w e re re c e iv e d in tim e fo r th e h e a v y sn o w s o n F e b . 4 a n d 5 1907.
P ow er P la n ts .— T h e d e m a n d s fo r p o w e r h a v e In cre a se d so r a p id ly th a t it
has b e e n d iffic u lt t o k eep p a c e w ith th e s itu a tio n , n o t w ith s ta n d in g th a t th e
5,0 0 0 K . W . r e c ip r o c a tin g u n it, c o n t r a c te d fo r In 190 5, w as p la c e d In srev lc e at th e P r a tt S t. p o w e r h o u se In th e e a rly p a r t o f last y e a r .
In a n t ic i­
p a tio n o f th e d is m a n tlin g o f th e m a c h in e r y t o b e r e m o v e d fr o m th e w id e n e d
p o r tio n o f P r a tt S t ., a 5,0 0 0 K . W . tu r b o -g e n e r a to r w as p la c e d In se r v ic e
In J a n u a ry 1907.
A se c o n d 5,000 K . W . r e c ip r o c a t in g u n it is n o w
b e in g in sta lle d a t P r a tt S t.
T h e E a stern a n d N o rth e r n s u b -s ta tio n s w ere
c o m p le t e d e a rly In 1906 a n d e q u ip p e d w ith th re e 1,000 K . W . r o t a iie s a n d
fo u r 1,000 K . W . rota ries r e s p e c t iv e ly .
T h e D ru id H ill su b -s ta tio n w a s
r e in fo r c e d b y th e a d d itio n o f o n e 1,500 K . W . r o t a r y , w h ic h Increases th e
c a p a c it y o f th a t sta tio n t o 5,500 K . W .
T h e M a ry la n d E le c t r ic R a ilw a y s
C o. has p u rch a s e d a s u ita b le site a d jo in in g B a y S h ore P a rk a n d w ill e r e c t
th e re o n a p o w e r a n d lig h tin g p la n t t o b e leased t o y o u r c o m p a n y .
B a y Shore P a r k .— B a y S h o re P a rk , o p e n e d A u g . 11 190 6, w as a c q u ir e d
b y th e M ary lan d K le ctric R y s . C o. on O c t . 31 1906 and leased t o y o u r c o .
E x te n s io n s .— T h e c it y o r d in a n c e a u th o r iz in g th e c o n s t r u c tio n b y th e
M a ry la n d E le c tr ic R a ilw a y s C o . o f a d o u b le -t r a c k e x te n s io n o f th e S t. P a u l
S t. lin e fro m 31st S t ., v ia M e r ry m a n ’s la n e , t o th e n e w B o u le v a rd line a n d
th e N o rth e rn C ity lim it, w as d u ly p assed b y th e C ity C o u n cil a n d a p p r o v e d
b y th e M a y o r .
It is also p r o p o s e d t o c o n s t r u c t a n d lease t o y o u r c o m p a n y :
a d o u b le -t r a c k lin e u p o n 8 th S t. b e tw e e n O ra n g e v ille a n d H lg h la n d t o w n ,
a s in g le -tra ck line 2 m ile e x te n s io n fro m T o w s o n t o L u th e rv ille ; also a

994

THE CHRONICLE.

d o u b le -t r a c k lin e 4
m iles in le n g th fro m W llk e n s A v . lin e t o E lk r id g e
L a n d in g , c o n n e c t in g w ith th e n e w ra ce tr a c k near H a le th o r p e .
M is c e lla n e o u s .— O n M a y 1 1906 th e re m a in in g $ 4 7 9,00 0 B a ltim o re T r a c ­
tio n C o . c o n v e r t ib le b o n d s w e re re tire d a n d c a n c e le d , a n d a lik e n u m b e r o f
o u r first 4 % c o n s o ls , w e re re le a se d .
C o n tra ct.— A c o n t r a c t w as c o n c lu d e d w ith th e W a s h in g t o n B a ltim o re &
A n n a p o lis R y . C o. a n d th e B a ltim o re T e rm in a l C o ., w h ic h lin es are c o n ­
s tr u c tin g an e le ctr ic r o a d b e tw e e n B a ltim o re a n d W a s h in g t o n , g r a n tin g
th o s e c o m p a n ie s th e rig h t o f jo ln t -u s e r o f th e o u s td e rail o f tr a c k s o f th is
c o m p a n y u p o n L o m b a r d a n d L ib e r t y streets a n d P a rk A v ., b e tw e e n
G reen e S t. an d th e T erm in a l C o .’s s ta tio n at P a rk A v e . an d M arion S t.
B etterm en ts S in c e the F i r e .— S in ce t h e g re a t fire o f F e b . 1904 th e re has
b e e n e x p e n d e d fo r th e gen eral b e tt e r m e n t o f y o u r p r o p e r t y b y th e r e ­
c o n s t r u c tio n o f tra ck s a n d p o w e r h o u se s, f o r th e p u rch a s e o f cars a n d fo r
ex te n sio n s a b o u t $ 6 ,8 9 1 ,7 3 4 .
O P E R A T IO N S A N D F IS C A L R E S U L T S .
1906.
190 5.
190 4.
190 3.
Car m ile s ________________ 2 6 ,0 3 5 ,3 2 7
2 5 ,4 3 1 ,3 7 6
2 3 ,3 9 7 ,5 1 5
2 4 ,6 6 5 ,9 7 3
R e v e n u e p a s s e n g e rs ____ 1 3 3 ,785 ,60 1 1 2 2 ,3 1 8 ,4 3 8 1 0 9 ,5 2 6 ,9 0 8 1 1 0 ,2 3 5 ,9 7 7
T r a n s fe r s ________________ 5 3 ,4 1 3 ,4 9 2
4 9 ,2 9 2 ,8 2 1
4 3 ,9 3 2 ,2 1 9
4 2 ,7 8 8 ,2 0 5
G ross e a r n in g s ___________ $ 6 ,5 8 3 ,1 0 2
$ 6 ,0 2 3 ,6 9 8
$ 5 ,4 4 0 ,9 4 2
$ 5 ,4 8 0 ,6 3 0
C o n d u c t, tr a n s p o r ta tio n $ 1 ,3 3 6 ,3 3 5
$ 1 ,2 0 2 ,0 8 1
$1,090,482 1
M o tiv e p o w e r ___________
606 ,478
4 1 9 ,8 6 8
523,713|
M a in te n a n ce o f w a y ____
2 3 0 ,7 5 2
8 8 7 ,6 3 6
428,999V
2 ,9 7 8 ,5 5 4
M a in ten a n ce o f c a r s ____
391 ,805
660 ,528
3 49 ,735 |
G en eral e x p e n s e s _______
655 ,5 7 2
595 ,179
4 8 3 ,6 1 0 J
T o t a l o p e r . e x p e n s e s - $ 3 ,2 2 0 ,9 4 2
N e t e a r n in g s ____________ $ 3 ,3 6 2 ,1 6 0
O th e r in c o m e ___________
4,7 2 5

$ 3 ,765,291
$ 2 ,2 5 8 ,4 0 6
2,725

$ 2 ,8 7 6 ,5 3 9
$ 2 ,5 6 4 ,4 0 3
10,238

$ 2 ,9 7 8 ,5 5 4
$ 2 ,5 0 2 ,0 7 6
90,374

$ 3 ,3 6 6 ,8 8 5

$ 2 ,2 6 1 ,1 3 1

$ 2 ,5 7 4 ,6 4 1

$ 2 ,5 9 2 ,4 5 0

$ 1 ,6 0 7 ,2 9 4
493 ,348
95,791

$1,608,2951
447,998|
124,371 \ $ 2 ,1 4 8 ,0 2 9

D ed u ctio n s—
I n terest on b o n d s , & c ._ $ 1 ,7 3 8 ,2 0 9
P a rk an d o th e r t a x e s ___
546 ,507
R e n t a l s __________________
10,925
I n t . on loan s a n d n o t e s '
p a y a b l e _______________
361
69,585
I n t . o n c a r tru st c t f s ____
I n t . o n in c o m e b o n d s ___
__________
T o t a l _________________ " 2 ,3 6 5 ,5 8 7
B a la n c e _________________ f 1 001 ,2 9 8
W r itte n o il fo r e x tr a o r d .
•e x p e n d itu r e s s u b je c t t o
•final d is trib u tio n b y
9 8 0 ,0 0 0
•b o a r d o f d ir e c t o r s ____
B a la n ce , su rplu s fo r y r

10,371
23,2 6 3

60,781 f
3.134J
56 0 ,0 0 0

$ 2 ,2 3 0 ,0 6 7
$31 ,064

$ 2 ,2 4 4 ,5 7 9
$ 2 ,7 0 8 ,0 2 9
$3 3 0,06 2 d e f $ l 15,579

$31 ,0 6 4

$33 0 ,0 6 2 d e f$ l 1 5,579

$21,298

B A L A N C E S H E E T D ECE M BE R 31.
1906.
1905.
!
1906.
Assets—
$
| Liabilities—
$
$
Cost o f road,equip­
Capital stock _____ 15 ,060,000
m ent, & c______ 66,802,712 66,589,6621Underlying bon d s. 13 ,230,000
Investin’ ts— bonds
; First m ortgage 4s. 26 ,450,000
and stocks_____
122,302
122,302! 2d M. income 4s. .13 ,940,000
Current assets:
Accounts payable.
376,995
C a sh ___________
115,977
86,876 Outstanding tick­
Notes and acc’ ts
ets. & c_________
9,030
r e c e iv a b le ___ XS40.149 1.329,72 -Votes payable____
809,580
D ue b y Mayor &
; Trustee city & sub.
. City Council in
first m ortg age..
50,655
connec. with
! Accrued in te re st..
502.083
widening o f
i A ccrued taxes____
119.455
Pratt Street- _
309,737
309,7371Car trust interest.
17.938
Supplies & coal
: Surplus----------------27.458
on hand_____
370,835
224,464 1Deferred liabilit's.221 ,602,227
Deferred assets, j/3,633,709 1,360,1601
T ota l....... ............ 72,195,421 70,022,9281

1905.
$
15.061.000
12.029.000
25.971.000
13.939.000
224.567
9,537
392,100
39,497
425,888
99.441
14.562
69,250
1,748,086

T otal_____ _____ 72,195,421 70,022,928

x Included with "notes and accounts receivable” are $540,950 United Railways &
Electric Co. first mortgage 4s and $27,000 Central Railway first mortgage 5s.
y “ Deferred assets’ embrace $1,375,750 equipm ent purchased (ad interim) through
car trust issues: ncom e bond coupons held b y Maryland Trust C o., trustee, against
funding bonds under funding agreement dated July 25 1906, $1,680,000: extra­
ordinary expenditures (ad interim) the final distribution of which is to be made by
the board of directors, $456,693: other miscellaneous items. $121,266.
2 "D eferred liabilities” include: A ccident reserve, $124,791: car trust series A ,
$280,000: car trust series B , $765,000; car trust series C, $390,000: and m iscellaneous items, $42.436.— V. 84, p. 869, 627.

International Mercantile Marine Company.
(Advance Statement for Calendar Year 1906.)
In connection with the listing of the company’s securities
on the New York Stock Exchange, the following compara­
tive statement has been given out:
IN T E R N A T . M E R C A N T IL E

M A R IN E

AND

C O N S T IT U E N T

C O ’S .

C o m p risin g A m e r ic a n , R ed S ta r, W h ite S ta r, D o m in io n and A tla n tic T r a n s p
C om bin ed In c o m e A c c t. fo r 12 m os. end. D e c . 31.
190 5.
1906.
G ross v o y a g e e a r n in g s.........................................................$ 3 2 ,4 3 5 ,5 1 2 $ 3 6 ,8 0 9 ,5 3 9
M iscel. re ce ip ts , in cl. co m m issio n s, in t. an d d lv s . on
o u ts id e in v e s tm e n ts an d tra d e a g re e m e n ts ______
9 2 7 ,4 0 7
1,0 8 6 ,5 3 1
T o t a l gross in c o m 4 ........ ..................... ...........................$ 3 3 ,3 6 2 ,9 1 9
V o y a g e e x p e n s e s . ......................... ................ .................... .$ 2 3 ,0 7 1 ,5 6 6
O p e ra tin g e x p e n s e s . . ------------------------------------------------4 ,0 0 6 ,3 1 1
A d m in is tr a tio n a n d gen eral e x p e n s e s I . M . M . C o .
3 2 7 .7 1 0
D e p r e c ia t io n on p r o p e r t y o th e r th a n s t e a m s h ip s ..
5 0 ,5 8 7

$ 3 7 ,8 9 6 ,0 7 0
$ 2 5 ,5 3 3 ,4 1 6
3 ,9 0 7 ,7 4 6
294 ,9 7 2
50,0 0 0

T o t a l o p e r a tin g , & c ., e x p e n s e s ............................... .$ 2 7 ,4 5 6 ,1 7 5 $ 2 9 ,7 8 6 ,1 3 4
N et e a r n i n g s ----------------------------------------------------------- $ 5 ,9 0 6 ,7 4 4
$ 8 ,1 0 9 ,9 3 6
I n te r e s t a n d d is c o u n t o n b o n d s ________ _______ _____ $ 3 ,3 4 9 ,4 9 5
$3,4 2 5 263
I n te r e s t o n lo a n s _____________________________________
4 8 2 ,1 6 7
245 ,151
I n c o m e t a x ................................_ -------------------------------------4 8 ,3 9 3
6 0 ,625
T o t a l first ch a r g e s ...........L---------------------------------------- $ 3 ,8 8 0 ,0 5 5
$ 3 ,7 3 1 ,0 3 9
S u r p lu s ............... ....................................................... ............$ 2 ,0 2 6 ,6 8 9
$ 4 ,3 7 8 ,8 9 7
S u rp lu s In su ran ce a c c o u n t ___________________________
8 6 4 ,1 5 9
8 1 6 ,7 4 0
N et p r o fit ............... .......................... ...................$3,1 2 7 ,4 9 1
Less p a y m e n t in 1905 o n a c c o u n t o f
tr a d e a g re e m e n t fo r 1 9 0 4 ____________
2 3 6 .6 4 3 $ 2 ,8 9 0 ,8 4 8
$ 5 ,1 9 5 ,6 3 7
‘ 'T h e figu res fo r 1906 are e s tim a te d ; t h e y h a v e n o t b e e n a u d ite d a n d are
s u b je c t t o c h a n g e , b u t are b e lie v e d t o b e su b s ta n tia lly c o r r e c t .
" T h e a b o v e figu res d o n o t in c lu d e th e o p e r a tio n s o f th e L e y la n d a n d
N a tio n a l lin es, in w h ich th e I . M . M . C o. has im p o rta n t h o ld in g s .
T h e se
lin es m a k e sep a ra te re p o rts t o th e ir s to c k h o ld e r s , a n d sh o w p r o fits fo r th e
y e a r 1905 In w o rk in g th e c o m p a n ie s o f £ 8 8 ,4 1 8 fo r th e L e v la n d L in e an d
£ 1 2 ,0 7 6 fo r th e N a tio n a l L in e , all o f w h ic h w as w r itte n o ff t o d e p r e d a t i o n
T h e p r e lim in a r y r e p o rts fo r 1906. w h ic h are p a r t ly e s tim a te d , sh o w c o r r e ­
s p o n d in g figu res fo r th a t y e a r o f £ 1 3 6 ,9 1 0 f o r t h e L e y la n d L in e a n d £ 1 6 ,8 7 7
f o r th e N a tio n a l L in e .” — V . 8 4 , p . 9 3 4 , 341.

United Box Board & Paper Company.
(Balance Sheets of Feb. 23 1907.)
_The circular issued under date of April 11 1907 by President
Sidney Mitchell and Secretary and Treasurer Hyatt Cox
(compare V. 84, p. 876) contains the following balance sheets
of Feb. 23 1907:




[Vol .

l x x x iv .

U nited B o x B oa rd & P a p e r C o . B a lan ce Sheet F e b . 23 190 7.
A s sets — •
L ia b ilities—
R e a l e sta te , p la n ts , m a ­
P referred s t o c k __________$ 1 4 ,9 4 8 ,9 0 0
c h in e r y , & c ____________ $ 2 2 ,4 3 2 ,5 7 8 C o m m o n s t o c k ___________ 1 4 ,0 1 8 ,5 0 0
S to c k In su n d ry c o r p o r ’n s
5,117,851 B o n d s a n d m o r tg a g e s ___
4 ,1 1 0 ,9 0 0
914,545 A c c o u n t s a n d b ills p a y ­
T re a su ry b o n d s __________
T re a su ry s t o c k ___________
ab le ____________________
840,5094 ,7 0 5 ,4 4 8
1 80 ,807
P e rso n a l p r o p e r t y _______
33,601 S u r p l u s ___________________
S in k in g f u n d ______________
21,153
C a sh _______________________
31,575
A c c t s . and bills r e c e iv a b le
458,583
M d se , a n d su p p lie s ______
384 ,282
T o t a l..................................... $ 3 4 .0 9 9 ,6 1 6 /

T o t a l . .............. .....................S34 .09 9.61 &

B a lan ce Sheet o f A m erica n Straw B oa rd C o. (in clu d in g U ncas P a p e r C o .)
F e b . 23 1907 (D ec. 31 1906 added fo r com p a rison .— E d .)
A ssets—
F e b .2 3 ’ 0 7 . Z>ec.31’ 0 6 .l
F e b .2 3 0 7 . D e c.3 1 ’ 0 6 .
R ea l e s t.,p la n ts ,
$
$
j L ia b ilities—
$
$
an d m a ch ln ’ ry 5,506,065 5 ,1 0 1 ,3 7 1 1C a p ita l s t o c k ___ 6 ,0 0 0 ,0 0 0 6 ,0 0 0 ,0 0 0
I n v e s t, a c c o u n t .
16,405
2 5 0 ,2 9 5 1S u sp en se a c c t ___ ________
245
S t o r e s ___________ 425 ,0 0 0
4 2 5 ,0 0 0 1B o n d s __________ 3 1 8 ,0 0 0
2 68 ,000
P erson al p r o p . .
57,3 9 7
54,642 |D iv id e n d a c c t . . ________
C a s h ____________
62,363
87,173| A c c t s . p a y a b l e . .
4 0 ,4 7 4
A c c t s & bills re c._ 452 ,599
3 6 0 ,1 2 5 1I n t. a c c r u e d ____ ________
M d se. & supplies 2 35 ,450
189,319 I S u rp lu s__________ 396 ,8 0 5
T o t a l ________ $ 6 ,7 5 5 ,2 7 9 6 ,4 6 7 ,9 2 5 | T o t a l ...................6 ,7 5 5 ,2 7 9 6 ,4 6 7 ,9 2 5
C om p a re V . 84, p . 692 , 105, 52; V . 83, p . 1 5 4 0 .)— V . 8 4 , p . 8 7 6 , 808 .

Lanston Monotype Machine Co., Philadelphia.
( Report for Fiscal Year ending Feb. 28 1907.)
Pres. J. Maury Dove, Alexandria, Va., April 11 1907, writes:
General R esu lts.— N o tw ith sta n d in g th e strik e in th e b o o k and j o b o ffic e s
th ro u g h o u t th e c o u n tr y , w h ich w as d ecla red J a n . 1 1906, m ore th a n a y ea r
a g o , and th e great in crea se in th e c o s t o f la b o r and m a teria l, th e gross re­
c e ip ts o f th e business and p ro fits fo r th e p a st y e a r h a ve e x c e e d e d th ose o f
th e y e a r p re v io u s an d give fa ir p rom ise o f a m u ch grea ter Im p ro v e m e n t
d u rin g th e p resen t y e a r.
T h e gross business fo r th e y e a r w as $ 1 ,3 1 2 ,8 7 3 , a n d th e n e t p ro fits (a fter
d ep recia tion ) w ere $ 5 1 4 ,7 3 3 .
O f th is a m o u n t, $31 4,73 3 w ere tra d in g o r
regu lar business p ro fits and $20 0,00 0 w ere e x tra o rd in a ry p ro fits d eriv e d
fro m th e sale o f th e m o d e rn C on tin en ta l p a te n ts (p a te n ts n o t o rig in a lly
ca p ita lize d ) t o th e E n glish co r p o r a tio n .
T h e to ta l n u m b e r o f ca stin g m a ch in es p la ce d d u rin g th e y e a r ju s t clo se d
w as 381, and th e to ta l n u m b e r o f k e y b o a rd s p la ce d w as 57 1 . A large n u m ­
ber o f m a ch in es p la ce d in this co u n tr y w as In p la n ts th a t h ad p re v io u s ly
in stalled M o n o ty p e s.
O w in g t o th e general sta g n a tio n o f business in E n gla n d d u irn g th e y e a r a
sm aller n u m b e r o f m a ch in es w as sold to th e Kngllsh c o r p o r a tio n th a n th e
p rev iou s y e a r. Sin ce Ja n . 1 o f th e p resen t y e a r, h o w e v e r, busin ess in
E n gla n d has im p ro v e d an d th e d em a n d fo r m a ch in es has in crea sed , a n d w e
are sh ip p in g th e m at p resen t 5 0 % m ore m a ch in es m o n th ly .
Im p rovem en ts.— W ith ou r la rg ely in crea sed fa c to r y fa cilities w e are
p rep a red t o m eet th e greater d em a n d th a t w ill su rely b e m a d e u p o n us th is
y ea r fo r b o th m a ch in es an d su pplies. T h e d em a n d fo r su pplies fo r n ew
a n d ex istin g p la n ts is a ra p id ly g ro w in g o n e .
W e h a ve been c o m p e lle d t o
ta k e th e en tire b u ild in g in w h ich w e are n o w lo ca te d in o rd e r t o m e e t ou r
g ro w in g n eed s.
O ur fa c to r y to -d a y is on e o f th e m o s t c o m p le te and
u p -to -d a te o f its k in d in th e c o u n tr y .
P a ten ts.— A grea t m a n y im p o rta n t im p ro v e m e n ts w ere m a d e d u rin g th e
y e a r a n d w ill be p r o te c te d b y p a te n ts. A large n u m b e r o f n ew p a te n ts
w as also issued d u rin g th e y e a r.
E v e iV p re ca u tio n Is ta k en t o p r o p e rly
p r o te c t o u r p a te n t in terests.
N ew C on tract.— On Ja n . 1 1907 w e co n clu d e d a n ew co n tr a c t w ith th e
E n glish c o r p o r a tio n , th e fo rm e r co n tr a c t b e in g ca n ce le d , fo r m a n u fa c tu r in g
its ca stin g m a ch in es an d k e y b o a rd s co v e r in g a p e rio d o f fiv e y e a rs , th u s
reservin g to ou r c o m p a n y th e ex clu siv e rig h t fo r th a t p e rio d o f m a n u fa c ­
tu rin g e v e ry M o n o ty p e sold In the w o rld .
T h e sale o f o u r m o d e rn i.u rop ea n p a te n ts to th e E n glish c o rp o ra tio n w as
c o n su m m a te d d u rin g th e la tte r p a rt o f th e y e a r fo r th e sum o f $ 2 4 0 ,0 0 0 , •
t o be p a id fo r In eig h t y e a rs, $ 30 ,000 p e r y e a r, p a y m e n ts t o be m a d e
q u a rte r ly , $7,5 0 0 e a ch . A ll o f said p a y m e n ts are e v id e n ce d b y 32 p ro m is ­
so ry n o te s o f $ 7 ,5 0 0 e a ch , o n e m a tu rin g e v e ry th ree m o n th s u n til th e
n u m b e r o f 32 has been p a id .
Said n o te s are co v e re d in o u r p resen t fin a n cial
sta te m e n t u n d er th e h ead o f bills re ce iv a b le .
T h e sale disp oses o f a
t e rrito ry , a t a fa ir p rice, th a t w e co u ld n o t p o s s ib ly c o v e r o u rselv es in
m a rk e tin g o u r m a ch in e s, an d gives, at th e sam e tim e , to th e K ngllsh c o r ­
p o ra tio n d o u b le th e m a rk e t th e y had p rio r t o a cq u irin g these rig h ts.
O ur
c o m p a n y is also reliev ed o f th e p a y m e n t a n n u a lly o f large an d g ro w in g fee*
fo r ta x e s , m a in te n a n ce . & c.
O P E R A T IO N S A N D F I S C A L R E S U L T S .
1 90 6-0 7.
C a stin g m a ch in es p la ce d (n u m b e r )___________________
381
K e y b o a r d s p la c e d (n u m b e r )_________________________
571
G ross b u s in e s s ________________________________________ £ $ 1 ,3 1 2 ,8 7 3
N et p ro fit a fte r d e p r e c ia tio n _________________________
£ 5 1 4 ,7 3 3
B r o u g h t fo rw a rd fr o m fo rm e r p e r io d ________________
599 ,9 4 4

190 5-0 6.
386
517
$ 1 ,0 5 8 ,8 3 7
3 0 5 ,1 4 8
4 1 9 ,7 9 5

T ra n sferred t o c o n tin g e n t a c c o u n t ___________________
D iv id e n d s N o s .l and 2 p a id A p r . an d O c t . 1 9 0 6 (4 % )

$ 1 ,1 1 4 ,6 7 7
_______
$198,516

$125*000

P r o fit an d loss su rplu s as p e r b a la n ce s h e e t_______

$916,161

$5 9 9,94 3

$72 4,94 3

£ T h e “ n et p r o fit ” in 1906 in clu d e s $ 3 1 4,73 3 fro m re gu la r p ro fits o f th e
busin ess a n d $20 0 ,0 0 0 fro m sale o f co n tin e n ta l p a te n ts (see t e x t a b o v e ) .
B A L A N C E SH EET M A R C H 1.
1906.
1905.
1906.
1
Assets—
[ Liabilities—
$’
S
$
C a sh ........................
228,9781 Capital stock......... 5,000,000
126,217
Bills receivable___
451,656| Discount (bills re766,410
Accounts receiv'le.
204,3841 c e iv a b le )---------305,183
265,000
Treasury stock ___
3 7 ,6 0 0 1Loans and bills pay26,600
Stocks & bonds .in­
| able......................
250,000
vestm ent acc’ t . .
672,9131 Accounts payable.
672,913
34,736
432.517! Dividend account.
I n v e n t o r y _______
355,150
72
394,772 |Contingent acc’ t . .
P la n t ____________
464,939
51,012
3,944
!
Profit
and
loss____
O ffice furniture___
5,225
916,161
Rights,fran.& imp. 3,794,338 3,769,029]
T o ta l----------------- 6,516,981
— V. 84, p. 934

6,195,7931

T otal__________

6,516,981

1905.
$
5,000.000
270,000
250,000
11.940
'
63,909
599,944
6,195,793

American Can Company.
(Official Statement of Feb. 8 1907.)
The official statement made to the New York Stock Ex­
change upon the listing of $41,233,300 cumulative 7% pre­
ferred stock and $41,233,300 common stock says in substance:
O rga n iza tion .— I n c o r p o r a te d M arch 19 1901 u n d er law s o f N ew Jersey .
A u th o riz e d ca p ita l s to c k , $ 8 8 ,0 0 0 ,0 0 0 , co n sistin g o f $ 4 4 ,0 0 0 ,0 0 0 cu m u la tiv e
7 % p referred s to c k a n d $ 4 4 ,0 0 0 ,0 0 0 c o m m o n s to c k .
P a r o f shares $100.
R ights of P n fe r r ed S to c k .— T h e ce rtifica te o f In co rp o ra tio n p ro v id e s (in
s u b s ta n c e ): T h e preferred s to c k shall be e n title d , in p referen ce t o the
c o m m o n s t o c k , to cu m u la tiv e d iv id e n d s a t th e rate o f 7 % y e a r ly fro m th e
tim e o f th e issue th e re o f, a n d w h e n e v e r th e p referred s to c k shall h a ve re­
c e iv e d su ch d iv id e n d s fo r all such tim e , o r w h e n e v e r all d eficie n cy o r arrears
fo r all su ch tim e shall h a ve been d e cla re d In d iv id e n d s a n d fu n d s set a side
fo r p a y m e n t th e r e o f, a n d th e c o m p a n y shall h a v e d ecla red d iv id e n d s on
th e p re fe rre d sto ck at th e rate a foresa id fo r su ch last past d iv id e n d p e r io d , an d
sh all h a v e set a p a rt fu n d s fo r th e p a y m e n t th e r e o f, th en d iv id e n d s on th e
c o m m o n s to c k m a y b e d e cla re d , p a y a b le o u t o f a n y surplus or n et p rofits
th e n re m a in in g .
T h e p referred s to c k shall a lso h a v e a p referen ce o v e r th e
c o m m o n sto ck in a n y d istrib u tio n o f assets o th e r th a n p ro fits, until the full
p a r va lu e th e re o f, a n d 7 % p er an n u m th ereon from th e tim e o f Issue, shall
h a v e been p a id b y d iv id e n d s o r d is trib u tio n .
T h e p referred s to ck shall n o t
re ce iv e a n y d iv id e n d fro m p rofits in e x cess o f 7 % p er a n n u m , n o r a n y sh are

A p r.

THE CHRONICLE.

27 1907.J

in jd ls t r ib u t lo n o f assets in e x ce ss o f said p a r v a lu e o f th e a m o u n t t h e n
u n p a id o f su c h c u m u la tiv e d iv id e n d s , b u t th e c o m m o n s t o c k a lo n e sh all
r e c e iv e all fu rth er d iv id e n d s a n d shares in d is trib u tio n .
T h e p referred a n d c o m m o n s to c k h a v e e q u a l v o t in g p o w e r , e x c e p t t h a t
th e p r o p e r t y c a n n o t b e m o r tg a g e d w ith o u t th e assen t o f tw o -th ird s o f th e
p r e fe rr e d s to c k ou ts ta n d in g .
-T h e first d iv id e n d p a id u p o n th e p re fe rr e d s t o c k w as 2 ) 4 % o n S e p t. 30
1 90 3, sin ce w h e n d iv id e n d s h a v e b e e n re g u la rly p a id a t th e ra te o f 5 % p e r
ann um .
O n D e c . 31 1906 th e u n p a id cu m u la tiv e d iv id e n d a m o u n te d to
2 2 14 % .
O rga n ized t o a cq u ire sev eral o f th e le a d in g fa c to r ie s in th e U n ite d S tates
en g a g e d In th e business o f m a n u fa c tu r in g tin ca n s an d p a c k a g e s .
T h e se
fa c to r ie s w ere a c q u ir e d p r a c tic a lly free fro m d e b t , a n d th e p r o p e r tie s o f th e
c o m p a n v are t o -d a y fre e fro m d e b t , e x c e p t a m o r tg a g e o f $ 3 0 ,0 0 0 , w h ic h is
n ot due.
T h e c o m p a n y op e ra te s 39 c a n fa c to r ie s . 2 d e tin n in g p la n ts a n d 1
m a c h in e s h o p , lo c a te d in M a in e , M a ssa ch u se tts, N e w Y o r k , P e n n s y lv a n ia ,
M a r y la n d , V ir g in ia , G e o rg ia , L o u is ia n a , O h io , In d ia n a , M ich ig a n , Illin o is,
Io w a , M issou ri, M in n e s o ta , C a lifo rn ia , O re g o n , W a s h in g to n a n d H a w a iia n
___ _
I s la n d s .
_
F a ctories o f the A m e r ica n C a n C o . (com pare V . 7 2 , p . 58 2 ; V . 7 6 , p . 9 6 9 ).
F a cto r ies O w ned.— A t la n t a , G a .; C h ic a g o , 111.; C le v e la n d , O h io ; D a v e n ;
p o r t , Io w a ; D e tr o it , M ic h .; • E m p ire," G e n e v a . N . Y . ; F a ir h a v e n , W a s h .;
" F i s h e r ,” H a m ilto n , O h io ; " G a r r is o n ,” N e w a r k , N . J .; " H a s k e r & M ar­
c u s e , ” R ic h m o n d , V a .; " l l s l e y , ” B r o o k ly n , N . Y . ; In d ia n a p o lis , I n d .;
(d e tin n in g p l a n t ) , J o lie t , 111.; L u b e c , M e .; “ M a n h a tta n ,” N e w Y o r k , N .Y .;
" M a r y la n d ,” B a ltim o re , M d .; M a y w o o d , 111.; m a ch in e s h o p , M a y w o o d , 111.:
“ M iller,” B a ltim o re , M d .; N ew O rlean s, L a .; N ew C a stle, P a .; " P a c i f i c , ”
S a n F r a n c is c o , C a l.;
(d e t in n in g ), P a u ls b o r o , N . J .; P o r t la n d , O re.;
" R u d o l p h , ” C h ic a g o , 111.; S a v a n n a h , G a .; “ S e n e c a ," H a v r e -d e -G r a c e , M d .;
" S o m e r s ,” B r o o k ly n , N . Y . ; T o le d o , O h io ; “ U n io n ," H o o p e s t o n , 111.;
S t. L o u is , M o . (co m p a re V . 8 1 , p . 669; V . 8 2 , p . 1 6 2 ).
F a cto r ies L e a s e d .— B o s t o n , M ass.; " C a lifo r n ia ,” San F r a n cis c o , C al.;
C a m b rid g e,' M d .: " H o n o lu l u ,” H a w a iia n Isla n d s; " H o m e & D a n z ,” S t.
P a u l, M in n .; “ I llin o is ,” C h ic a g o , 111.; K a n sas C ity , M o .; N o rth L u b e c ,
M e .; P h ila d e lp h ia , P a .; " W a g n e r ,” E a st B r o o k ly n , M d .; " W o o d c o c k , ”
C h ic a g o , 111.
T h e c o m p a n y ’ s fa c to r ie s are fu lly in su re d , m a n y o f th em su p p lied w ith
s p rin k ler e q u ’ p m e n , an d o th e rs are b ein g su p p lie d w ith sprin k ler e q u ip m e n t
as r a p id ly as possiD le.
P r in c ip a l p r o d u c t s ; F ru it an d v e g e ta b le c a n s , m e a t an d fish can s o f all
d e s c r ip tio n s , la rd pails o f all k in d s , can s fo r p a in ts , v a rn ish e s, oils an d
sim ila r p r o d u c t s , c o ffe e a n d s p ice ca n s , b a k in g p o w d e r ca n s , & c ., s y ru p an d
m ola sses c a n s , w a x to p can s fo r d o m e s tic p a c k in g , tin can s w ith w o o d e n
ja c k e t s fo r h o ld in g oils an d b u lk y liq u id s , p ie c e d an d s ta m p e d tin w a re an d
g a lv a n iz e d w a re, lith o g r a p h e d an d d e c o r a te d tin b o x e s an d p a c k a g e s u sed
f o r th e p a c k in g o f d r u g g is ts ’ su n d rie s, ta lcu m p o w d e r b o x e s , t o o t h p o w d e r
b o x e s , t o b a c c o b o x e s an d sim ilar p r o d u c t s .
V a rio u s can s an d p a ck a g e s
m a d e fro m b la c k sh e e t s te e l, su ch as ly e c a n s , p o w d e r k e g s, & c.
T h e re are, in a d d it io n , m a n y s p e cia ltie s a n d o th e r p a c k a g e s , a m o u n tin g
In th e ag g reg a te t o a v e r y c o n s id e ra b le b u sin ess. T h e c o m p a n y preserves
all th e tin scrap a n d clip p in g s u sed in th e m a n u fa c tu r e o f its g o o d s , an d
c o lle c t s th em at t w o d e tin n in g p la n ts , on e a t P a u ls b o r o , N . J ., a n d th e
o t h e r a t J o lie t, 111., w h ere th e tin scrap is tre a te d b y an e le ctr o -c h e m ic a l
p r o c e s s , w h e r e b y th e tin Is r e c o v e r e d an d th e re su ltin g b la c k steel scrap is
m a d e sa lea b le t o steel w o rk s .
T h e m a ch in e ry used b y th e c o m p a n y Is In m a n y cases a u t o m a t ic , In trica te
a n d o f a sp ecia l n a tu r e , ren d erin g lt de sira b le th a t th e c o m p a n y m a n u fa c tu r e
a n d c o n tr o l Its o w n sp ecial lines o f m a c h in e r y . T h is c o m p a n y , t h e r e fo r e ,
op era tes a large m a c h in e s h o p a t M a y w o o d , 111., e m p lo y in g s te a d ily fr o m
250 t o 300 m en in th e m a n u fa c tu r e a n d repair o f Its m a c h in e r y .
The
k n o w le d g e o f su ch sp e cia l m a ch in e ry is th e r e fo r e co n fin e d t o th e c o m p a n y ’ s
e x p e r ts .
[T h e s ta te m e n ts o f earn in gs an d b a la n ce sh eets fu rn ish e d t o th e E x ch a n g e
are th o se a lr e a d y p u b lis h e d in th e “ C h ro n icle ” fro m th e c o m p a n y ’s a n n u al
r e p o r ts .]
See V . 8 4 , p . 337; V . 8 2 , p . 332 ; V . 8 0 , p . 1730; V . 8 4 , p . 510 .]

GENERAL IN V E STM E N T N E W S.
RAILROADS,

INCLUDING

STREET

ROADS.

Berkshire (Mass.) Street R y.— New Stock.— The Massa­
chusetts Railroad Commission has authorized this company,
a subsidiary of the New York New Haven & Hartford R R .,
to issue $250,000 additional capital stock, to be offered stock­
holders at $100 per share, the proceeds to be used for paying
floating debt and the purchase of property.— V. 82, p. 691.
Boston & Northern Street R y.— New Trustee.— The
directors have approved the substitution of the American
Trust Co. of Boston, as trustee, in place of the Adams Trust
Co., under the $15,000,000 refunding mortgage of 1904,
subject to the approval of the appointment by the Massa­
chusetts Railroad Commission.— V. 82, p. 1155.
Buffalo Rochester & Pittsburgh R y.— Bond Issue A p­
proved.— The shareholders on April 25 duly ratified the propo­
sition to make a consolidated mortgage for $35,000,000, the
immediate issue to be $3,000,000. Compare V. 84, p. 867,
930.
Calumet Electric Street R y., Chicago.— New Officers.—
The following officers and directors were recently elected:
P re s id e n t, Ira M. C o b e ; V ic e -P r e s id e n t, J . W . M c K in n o n : S e cre ta ry and
T rea su rer, F ra n k H . M u rra y .
D ir e c to rs : L . E . M eyers, B . F . H arris, G . E .
S h a w , J W . M c K in n o n , Ira M . C o b e .— V . 83, p . 93.

Chattanooga Southern R R .— Receivership' — Judge Pardee
in the United States Court at Atlanta on April 23 appointed
W . W. Kent and E. C. Osborne as receivers for this road
on application of the Pacific Construction Co. of California.
The receivership, it is understood, is occasioned by the fail­
ure of the minority stockholders to accept in sufficient num­
bers the proposition made by the Louisville & Nashville R R.
Compare V. 84, p. 748.
Chesapeake & Ohio R y.— Bonds Offered.— Moffat & White,
5 Nassau Street, and Procter & Borden, Equitable Bldg.,
New York City, are offering at 90 and interest, yielding
4.55% to the investor, $600,000 Potts Creek branch 1st mort­
gage gold 4% bonds, dated July 1 1906 and due July 1 1946;
interest payable Jan. 1 and July 1. Authorized issue limited
to $1,000,000; outstanding, $600,000. Trustee, Central
Trust Co. of New York. A circular says:
T h e a b o v e b o n d s are a d ir e c t o b lig a t io n o f th e C h esapeak e & O h io R a il­
w a y C o ., secu red b y first m o r tg a g e o n its P o t t s C reek B ra n ch a t a rate n o t
t o e x c e e d $25 ,000 p e r m ile T h e un issu ed b o n d s are h eld fo r a d d itio n a l
m ilea g e o n this lin e at th e a b o v e ra te p e r m ile o f c o m p le t e d r o a d , n o t
I n clu d in g spurs a n d s e c o n d tra ck
T h e c o m p a n y has b u ilt th is lin e , e x ­
te n d in g fro m C o v in g to n , V a ., s o u th w e s t fo r a d is ta n c e o f a b o u t 25 m ile s,
fo r th e p u r p o se o f re a ch in g an e x te n s iv e iro n o re re g io n c o n ta in in g ore
sa id t o b e th e h igh e st g r a d e fo u n d In V ir g in ia .
T h e r o a d is w ell lo c a te d ,
a n d has n o gra d es o f co n s e q u e n c e In th e d ir e ctio n o f th e m o v e m e n t o f Iron
or e an d h e a v y tr a ffic , an d lt is e x p e c t e d th a t It w ill be In fu ll o p e r a tio n b y
J u ly 1 1907.
O re c o n t r a c te d fo r b y o n e Iron c o m p a n y a lo n e w ill p r o b a b ly
s u ffic e , a t p r e v a ilin g fre ig h t ra te s, t o p r o v id e s u ffic ie n t e a rn in gs t o m e e t the
fix e d ch a rg es on th e b o n d s o u t s t a n d in g .— V . 8 4 , p . 626 , 270.




995

Chicago & Oak Park Elevated Ry .— New Trustee.^-See
Lake Street Elevated R R . below.— V. 84, p. 569, 218.
Chicago & Southern Traction Co.— New Securities— New
Control.— The “ Chicago Economist” of April 20 said:
P re s id e n t W . S . R e e d a n n o u n ce s th a t th e c o m p a n y has in crea sed it
ca p ita l s to c k fro m $ 2 ,0 0 0 ,0 0 0 t o $ 5 ,0 0 0 ,0 0 0 an d th e b o n d e d d e b t fro m
$ 2 ,0 0 0 ,0 0 0 t o $ 5 ,0 0 0 ,0 0 0 .
M r. R e e d has sold a co n tr o llin g in terest in th e
p r o p e r t y t o a D e tro it s y n d ic a te m a d e up o f th e fo llo w in g ca p ita lists: C. J ,
R e i l ly , C. A . B la c k , M a tth e w Slush an d J. M . M u lk le y , P re sid en t o f th e
D e t r o it Salt C o .
W ith th e in crea sed s to c k a n d b o n d s, it is th e in te n tio n
t o e x t e n d fro m th e p resen t m ain lin e t o v a rio u s p o in ts o u ts id e th e sou th ern
lim its o f th is c it y , a n d also t o e x te n d th e lin e t o L a F a y e tte , I n d ., co n n e c tin g
th e re w ith th e O h io a n d In d ia n a lin e s. T h e r o a d w ill b e in c o m p le te o p e r ­
a tio n as fa r as K a n k a k e e w ith in th e n e x t six w e e k s .— V . 8 2 . p . 217 .
$r(J

Chicago Southern R y.— Financial Plan.— Copies of the
subscription agreement of the underwriting syndicate formed
to complete the Walsh roads, together with the estimates
for the completion of the Chicago Southern R y., were
made public on April 20. The syndicate managers are
John R . Walsh, John N. Faithorn, of the Chicago Terminal
& Transfer R R . and Orville E. Babcock. The syndicate,
as was stated by the Clearing House Committee several days
ago (V. 84, p. 930), is organized to raise $2,500,000 to com­
plete the road and $1,000,000 of underwriting is offered at
this- time.
The subscribers will receive for this $2,500,000 the follow­
ing securities:
$ 1 ,5 0 0 ,0 0 0 p a r v alu e o f th e 5 % first m o r tg a g e b o n d s o f th e C hicago S ou thern,
d a te d J u ly 1.
$1,000 000 p a r v a lu e o f 6 % 10-y ear d e b e n tu re s o f th e sam e r a ilw a y .
$ 1 ,0 0 0 ,0 0 0 p a r v a lu e o f 4 % p re fe rre d s to c k o f th e S outhern In d ia n a R a ilw a y .
c u m u la tiv e a fte r Ja n . 1 1908.
$2,5 0 0 ,0 0 0 p a r v a lu e o f th e $ 1 0 ,0 0 0 ,0 0 0 o f c o m m o n s to c k o f th e S ou th ern
In d ia n a R a ilw a y , $ 1 ,0 0 0 ,0 0 0 t o b e used If desired t o aid in r e fu n d in g th e
co lla te ra l g o ld n o te s .
(T h ere are $ 4 ,0 0 0 ,0 0 0 o f these 5 % co u p o n n otes
o f th e C h ica g o S ou th ern R y .
T h e y are d u e J u ly 1 1907 and are g u a r ­
a n te e d b y th e S ou th ern In d ia n a R y .
See V . 81, p . 61 3 , 7 2 5 .)

The “ Chicago Inter-Ocean” of April 21 said:
O f th e se se cu ritie s, th e s to c k s are th e p r o p e r t y o f M r. W a ls h , b u t h a v e
be e n p u t up as p a rt o f th e co lla te ra l fo r th e $ 4 ,0 0 0 ,0 0 0 o f 2 -y ea r colla tera l
tr u s t n o te s o f th e C h ica go S o u th e rn , d u e J u ly 1 1907, w h ich w ill b e r efu n d ed
at th a t tim e b y $ 4 ,0 0 0 ,0 0 0 o f th a t c o m p a n y ’ s 5s. T h is w ill release th e
stock s.
T h e 5 % issue to ta ls $ 5 ,5 0 0 ,0 0 0 , and th e re m a in in g $ 1 ,5 0 0 ,0 0 0 is
t h e s e c u r ity w h ich is t o b e tu rn e d o v e r t o th e s y n d ic a te . T h e d eb en tu res
w ill b e issu ed at th e sam e tim e .
O f th e s u b s c r ip tio n , Mr. W alsh an d th e fo rm e r d ire cto rs o f his th ree
d e fu n c t b a n k s —-the C h ica g o N a tio n a l, H o m e S a v in gs an d E q u ita b le T ru st
C o .— h a v e tak en th e b u lk o f $ 1 ,5 0 0 ,0 0 0 , w h ile o f th e $ 1 ,0 0 0 ,0 0 0 o n th e
m a r k e t t h e C learin g-H ou se c o m m itte e w h ich h ad ch arge o f th e W a lsh ba n k s
has agreed t o ta k e $ 25 0,00 0.
M ost o f th e rem a in d e r also is said t o h a v e
been su b s crib e d .
T h e sta te m e n ts w h ich a c c o m p a n y th e o ffe r o f th e sy n d ic a te decla re th a t
It w ill requ ire $922,450 t o c o m p le te th e C h ica go S o u th e rn .
O f th e $ 2 ,5 0 0 ,000 t o be raised It Is p lan n ed t o p u t aside $ 1 ,5 0 0 ,0 0 0 t o c o m p le te th e c o n ­
str u c tio n o f th e ro a d and $ 1 ,0 0 0 ,0 0 0 t o p a y o ff its flo a tin g in d e b te d n e ss
an d fo r in terest an d d is c o u n ts .— V . 84, p . 930 .
'

Chicago Union Traction Co. .— Deposits Asked.— A committe ecomposed of Frederick H.Rawson, William N. Eisendrath, Wallace Heckman, Edmund D. Hulbert, Azariah T.
Galt, R . Floyd Clinch, George E. Adams, Charles L. Ray­
mond, R . W . Hosmer, Charles W . Leland and George E.
Marcy, on April 24 called for deposits of stocks of the North
and Chicago street railroads with the Chicago Title & Trust
Co., under the terms of the recent ordinance.
Mueller Certificate Decision.— See editorial on a preceding
page.—-V. 84, p. 930, 803.
Cleveland Electric R y.— Lines Abandoned.— The company
on Tuesday ceased to operate the lines on Central and
Quincy avenues and began to tear up the tracks, but was
prevented by the. police. A temporary injunction was ob­
tained from Judge Ford prohibiting the Forest City R y.
from operating the lines. In order to avoid the injunction,
the Municipal Traction Co. on April 23, it is reported, trans­
ferred its lease of the Forest City Railway Co. to the Low
Fare Co., but operation of the lines has not yet been resumed.
Compare V. 84, p. 930, 867.
Cleveland Southwestern & Columbus R y.— Mortgage Filed.
— This company has filed to the Cleveland Trust Co., as
trustee, its new mortgage securing $10,000,000 of 5% 20year bonds (subject to call after ten years), issued per plan
under “ Cleveland & Southwestern Traction C o.” in V. 83,
p. 1590.— V. 84, p. 748, 569.
Columbus (O.) Railway & Light Co.— New Director.—
David E. Putnam, Vice-President of the Commercial National
Bank of Columbus, has been elected a director to suceeed
Charles H. Lindenberg, who resigned.— V. 84, p. 338.
Consolidated R y.— Merger with N . Y . N . H. & H . RR.—
See New England Investment & Security Co. below.— V. 84,
p. 507, 102.
Dayton Lebanon & Cincinnati R R .— Sold.— At Dayton,
O ., on April 16 this trolley and steam road extending from
Dayton to Lebanon, 35 miles of track, was bid in at foreclos­
ure sale by J. F. Morley for E .G . Tillotson, Vice-President
and Manager of the Cleveland Trust Co. and Chairman of
the bondholders’ committee, for $200,000, including $194,000
for the real estate and $6,000 for the personal property.
The bondholders, it is said, will re-finance the property and
complete the road 4 miles from Lebanon Junction to Dayton.
— V. 81, p. 1436.
Duquoin Belleville & St. Louis Electric R y.— Mortgage.—
This company, originally incorporated as the Duquoin Rapid
Transit Co., has made a mortgage to the Carnegie Trust Co.,
of New York, as trustee, to secure an issue of $2,000,000
20-year 5% gold bonds, dated Feb. 1 1907 and due Feb. 1
1927, without option of earlier redemption; denominations
$500 and $1,000; interest payable Feb. 1 and Aug. 1.
T h e .c o m p a n y , it Is sa id , has a fra n ch ise c o v e r in g 85 m iles o f r o a d , c o m ­
m e n c in g a t Z e lg le r, In F ran k lin C o u n ty , and te rm in a tin g a t B elleville,
p a s s in g th r o u g h B e n to n , D u q u o in an d P in c k n e y v llle . T h e offic e r s are:
W . R . H a y e s o f D u q u o in , P re s id e n t: D . R . A r c h e r , V ic e -P r e s id e n t; T . J.
H o w e ll, S e cre ta ry , an d H . E . R o s s T reasu rer.

996

THE CHRONICLE

[V o l . l x x x iv .

Equipment Trusts.— Record in the Past.— See circular m erged in to th e N . Y . N . H . & H . R R , a m e e tin g fo r t h a t p u r p o s e t o b e
under Mobile & Ohio R R . below and compare editorials in h e ld M ay 31.
Assess.— See President Mellen’s letter of Oct. 16 1906
V. 81, p. 1760; V. 82, p. 361, 839, 873, 1296.
under “ Worcester Railways & Investment Co.” in V. 83,
Great Northern R y.— Interest on Subscriptions.— The com­ p. 1100. (The company’s holdings of Worcester Railway &
pany, referring to the interest at 5% per annum allowed by Investment Co. stock has since been increased from 36,971
it on all installments paid to May 1 1908 on account of the shares to, it is said, about 64,000 shares, out of a total of
$60,000,000 new stock, gives notice'that,owing to the small 71.898 shares.— E d.)— V. 84,jp . 570.
amount of interest accruing between April 9, when the first
National RR. of Mexico.— Listed.— The New York Stock
installments were payable on subscriptions under the terms
of the amended circular (V. 84, p. 803), and May 1, when Exchange has listed $42,600 additional 5% non-cumulative
interest was payable according to the original circular of preferred stock, making the total listed to date $22,031,600,
Dec. 11 last (V. 83, p. 1469), payment of interest accrued with $201,700 further additional to be added from time to
May 1 will be deferred to Nov. 1 1907, when it will be paid, time prior to Nov. 1 1907, making the total authorized to
together with the interest accruing from May 1 1907 to Nov. be listed $22,233,300.
Earnings Jot H alf-Y ear ending D ec. 31.
1 1907.— V. 84, p. 803, 749.
----------------1 9 0 5 .---------------- ----------------19 0 6 .---------------M e x . C u r.
U. S . C u r. M e x . C u r.
U. S . C u r.
Illinois Iowa & Minnesota R R .— Meeting Adjourned.—
$ 3 ,3 2 2 ,6 8 7
$ 7 ,3 7 9 ,9 5 9
$ 3 ,6 8 9 ,9 8 0
G ross e a r n i n g s .................... $ 6 ,6 4 5 ,3 7 5
The meeting to authorize the consolidation with other lines N
e t e a r n i n g s . . ..................
2 ,4 8 3 ,0 3 8
1 ,2 4 1 ,5 1 9
2 ,6 8 6 ,8 9 8
1 ,3 4 3 ,4 4 9
D e d u c tio n s — T a x e s ($ 1 4 ,9 1 2 ), re n ta l M ic h . & P a c . ( $ 1 2 ,4 2 3 ).
2 7 ,335
under the name of the Milwaukee Rockford & Gary R y.,
which was to have taken place on April 25, was, it is reported,
B a la n c e _____________________________________________________________ $ 1 ,3 1 6 ,1 1 4
adjourned for 30 days. Compare V. 84, p. 508.
O th er in c o m e — I n t. ($ 1 4 9 ,9 8 0 ), d iv s . ($ 2 1 2 ,8 0 3 ), m isc. ($29,250)
3 9 2 ,0 3 3
Lake Shore & Michigan Southern R y.— Debenture Syndi­
T o ta l n e t in c o m e ___________________________________________________$ 1 ,7 0 8 ,1 4 7
cate Dissolved.— The syndicate headed by J. P. Morgan & Co., D e d u c t— I n t . o n b o n d s ($ 1 ,0 0 5 ,4 8 0 ) a n d g old n otes ( $ 2 1 2 ,5 0 0 )..$ 1 ,2 1 7 ,9 8 0
m o s . p r o p , c o s t e x te n d in g 5 % g o ld n o t e s . _______ ___________
34,384
which underwrote the $35,000,000 25-year 4% debenture SS ix
ix m o s . p r o p o r t io n d is c o u n t o n b o n d s s o ld _______________________
6,9 4 6
bonds issued in February 1906 (V. 82, p. 392) will be dissolved
B a la n ce , surplus f o r h a lf y e a r ____________________________________
$ 4 4 8,83 7
on May 1. The “ Wall Street Summary” says:
— V . 8 4 , p . 339 .
• •
P a rtic ip a n ts In th e s y n d ic a t e p u rch a se d th e b o n d s at th e tim e at 98 H
New Orleans Railway & Light Co.— Debentures Offered.—
a n d in te re s t. T h e b o n d s w ere a p a r t o f a $ 5 0 ,0 0 0 ,0 0 0 a u th o riz e d issu e.
The Inter-State Trust & Banking Co. of New Orleans, the
I t is u n d e rsto o d th a t th e s y n d ic a te d isp o se d o f o n ly a sm a ll p a r t o f th e
b o n d s , an d th e ba la n ce w ill be tu rned o v e r t o th e u n d e rw rite rs o n th e d a te
trustee for the issue, is offering for sale $500,000 of this com­
m e n tio n e d .— V . 84, p . 7 5 3 , 744.
pany’s new $5,000,000 5-year 6% gold debenture notes,
Lake Street Elevated RR.,C hicago.— Resignation of Mort­ dated May 1 1907 and due May 1 1912, but subject to call
gage Trustee.— The Equitable Trust Co. of Chicago, as suc­ from May 1 1908 to May 1 1910 at 103, and on May 1 1910
cessor June 24 1898 to the Farmers’ Loan & Trust Co., as and any interest day thereafter at 101; denomination $1,000;
trustee under the mortgage of April 7 1893, gives notice by interest payable Nov. 1 and May 1. The proceeds are to
advertisement of its resignation from the trusteeship, to take be used in the business of the company and for no other pur­
effect July 1 1907 or earlier if a new trustee shall be appointed. pose. So long as the debenture notes remain unpaid, no
— V. 78, p. 1549.
new mortgage or lien of any kind shall be placed upon the
Lewiston Brunswick & Bath Street R y.— Sale.— See property.— V. 84, p. 868, 339.
Lewiston Augusta & Waterville Ry. above.— V. 84, p. 390.
New Orleans Terminal Co.— Offering of Guaranteed Notes.
Missouri Pacific R y.— Equipment Securities Offered.— The — Potter, Choate & Prentice, New York, having sold about
equipment bonds and certificates which were described in three-quarters of the issue of $2,500,000 2-year 6% gold
the “ Chronicle” last week (p. 931) have mostly been placed. notes, dated April 10 1907 and due April 10 1909, are offer­
Tailer & Co., 27 Pine St., are offering the unsold maturi­ ing the remainder at par and interest. The Trust Co. of
ties, amounting to about $500,000, by advertisement on America, New York, is the trustee for the loan, and the
another page of this issue, at prices to yield the investor notes are guaranteed, jointly and severally as to principal
about 5}4% • Compare V. 84, p. 931.
and interest, by endorsement on each, by the Southern
f Mobile & Ohio R R .— Offering of 5% Equipment Notes Guar­ Railway Co. and the St. Louis & San Francisco R R ., as well
anteed by American Car & Foundry Co.— The Mississippi Val­ as secured by a deposit with the trustee of $4,000,000 New
ley Trust Co. and Francis Bros. & Co., both of St. Louis, Orleans Terminal Co. first mortgage 4% bonds. See
are offering, at prices to yield the investor 5 % % interest, advertisement on another page of this issue.
A bstract o f Letter from P resid en t C . C . H a rv ey , N ew O rleans, A p r il 12 1907
$1,291,000 5% equipment notes, dated Oct. 1 1907, matur­
In N ew O rleans th e c o m p a n y ow n s 49 co n s e c u tiv e b lo c k s in th e heart
ing serially until Oct. 1 1914. Denomination $1,000. Cou­
o t th e c it y , ly in g b e tw e e n B e m a d o tt e S t ., B asin S t ., B ie n v ille A v ., S t.
pon notes. Interest payable semi-annually April 1 and Oct. L o u is S t. an d Canal C a ro n d e le t, w ith th e rig h t t o la y tra ck s th ro u g h B asin
1. Principal and interest payable, at option of holder, at S t. t o C anal S t ., w h ere a passen ger s ta tio n is t o b e e r e c te d , a s ite th a t can
t be surpassed in th e c it y . T h e re h a v e a lre a d y b e e n c o n s tr u c te d th e
office of the trustee, the Mississippi Valley Trust Co., St. nfoollo
w in g m o d e m first-class b u ild in g s : O n e th r e e -s to r y b rick fre ig h t o ffic e
Louis, or at the Guaranty Trust Co., New York City. The b u ild in g , seven fre ig h t b rick sh ed s, d rip s h e d s, s to c k p e n s, ro u n d h ou se,
p , stables, w areh ou ses and o th e r b u ild in g s fo r h a n d lin g freig h t.
American Car & Foundry Co. guarantees the payment of repTahire smh oain
lin e o f tr a c k e x te n d s fro m S h re w sb u ry t o P o r t C h a im ette, a
these notes. (See advertisement on another page).
d is ta n c e o f 14.2 m iles, m a k in g a c o n n e c tio n at S h re w sb u ry w ith th e Illin ois
tral R R . , th e Y a z o o & M ississippi V a lle y R R . and th e L o u isia n a R a il­
The above issue of notes will be ready for delivery on or wCen
a y & N a v ig a tio n C o .. at P o n tc h a rtr a in C rossin g w ith th e L o u isv ille &
about Oct. 1 next, and pending delivery of the definitive N ash ville R R . , at T e rm in a l J u n ctio n w ith th e N ew O rleans & N orth ea stern
notes temporary certificates of the Mississippi Valley Trust R R . an d th e N ew O rlean s-G rea t N orth ern R R ., an d at P o r t C h a im ette
ith th e L o u isia n a S ou th ern R y .: a b ra n ch lin e fro m th e Hast C ity sw itch
Co. will be issued, exchangeable for notes on and after Oct. 1 w
e x te n d s t o C anal S t ., 3 .9 m iles. T h e w h o le lin e , in c lu d in g d o u b le tr a c k ,
1907. The issue will matur6 in semi-annual installments sidin gs an d co n n e c tin g tra ck s , a g greg ates 63 .4 m iles. O f th e m ain lin e
sidin gs th ere are 10.45 m iles laid w ith 8 5 -lb . rails, th e b a la n ce w ith
as follows: April 1 1908 to Oct. 1 1909, $94,000; April and and
6 0 -lb . rails. T h e m ain line is ballasted w ith fu rn a ce sla g o r c in d ers , w ith
Oct. 1 1910, $93,000; April 1911 to April 1912, $92,000. th e e x c e p tio n o f fiv e m iles, w h ich Is su rfa ce d on riv e r s a n d .
h ere is in cou rse o f c o n s tr u c tio n (n ow a b o u t 65 % c o m p le te d ) th e C h ai­
Oct. 1912 to Oct. 1913, $91,000; April and Oct. 1914, $90,- m eTtte
S lip, w h ich w ill a ffo rd a n ch o ra g e fo r n in e a v e ra g e o c e a n steam ers.
000. A circular says in substance:
T h e slip w ill b e 1,500 fe e t in le n g th , 300 fe e t in w id th and h a v e a d e p th
• T hese n o te s are a d ir e ct o b lig a tio n o f th e M o b ile & O h io R R . , se cu re d
b y a first lien u p o n th e cars p u rch a s e d fro m th e A m e r ic a n Car & F o u n d r y
C o ., v i z .: 1,000 t h ir t y -t o n b o x cars a n d 750 fo r t y -t o n g o n d o la ca rs , fo r
w h ic h p a y m e n t w ill b e m a d e 1 5 % In ca sh an d th e re m a in d e r in th e a b o v e
n o te s . T h e A m e r ic a n Car & F o u n d r y C o . w ill g u a ra n te e th e p a y m e n t o f
th ese n o t e s , a n d sa id g u a r a n ty w ill b e d e p o s ite d w ith th e tru ste e fo r th e
n o te -h o ld e rs
W e esp e c ia lly In v ite th e a tte n tio n o f in v e s to rs t o th e su p e r io r ity o f c a r
tru s t o b lig a tio n s as a s e c u r ity d u e m a in ly t o th e fa c t th a t th e y are s e cu re d
o n th e r ollin g s t o c k , w h ic h is a n e c e s s ity fo r th e o p e r a tio n o f th e r o a d ,
a n d th erefore are gen e ra lly r e c o g n iz e d as an o b lig a tio n th a t has t o be
p r o v id e d fo r under^ any c o n d itio n s , as e v id e n c e d b y th e f a c t th a t th ere are
a t th e p resen t tim e th e fo llo w in g ro a d s In th e h an d s o f r e c e iv e r s , C in cin n a ti
H a m llto n & D a y t o n R a ilw a y C o ., P itts b u r g h S h a w m u t & N o rth e rn R a il ­
r o a d C o. an d P ere M a rq u e tte R a ilr o a d C o ., a ll o f w h ic h h a v e o u s ta n d ln g
e q u ip m e n t ob lig a tio n s w h ich are b e in g p r o v id e d f o r , b o t h p r in cip a l an d
In terest, a c c o r d in g t o th eir te n o r . T h e fo llo w in g r a ilro a d c o m p a n ie s re­
o r g a n iz e d b e tw e e n 1888 a n d 1905, e ith e r w ith o r w ith o u t fo re c lo s u r e p r o ­
c e e d in g s . all h a d o u ts ta n d in g e q u ip m e n t o b lig a tio n s , w h ic h In e v e r y case
w ere p r o v id e d fo r p r o m p t ly , b o th p rin cip a l an d in te re s t, a lth o u g h all o th e r
secu rities, w ith few e x c e p tio n s , w e re r e d u ce d in ra te o r a m o u n t: A tc h is o n
T o p e k a & S a n ta F e R R . , B a ltim o re & O h io R R . , C en tral R a ilr o a d & B a n k ­
in g C o. o f G eorg ia , C h esapeak e & O h io R R . , C o lu m b u s H o c k in g V a lle y &
T o le d o R y . (n ow H o c k in g V a lle y R R . ) , K a n sas C ity P itts b u r g h & G u lf
R R . (n ow K an sas C ity S o u th e rn R y . ) , N e w Y o r k L a k e E rie & W e s te rn
R R . (n o w E rie R R . ) , N o rth e r n P a cific R R . , P h ila d e lp h ia & R e a d in g R R . ,
R ic h m o n d & D a n v ille R R . a n d G e o rg ia P a cific R y . (n o w S o u th e rn R y . ) ,
S a v a n n a h A m e ricu s & M o n tg o m e r y R y . (n o w p a rt o f S e a b o a r d A ir L i n e ) ,
T o le d o S t. L ou is & K an sas C ity R R . C o . (n o w T o le d o S t. L o u is & W e s te rn
R R . ) , U n io n P a cific R y .
T h e fo llo w in g ra ilro a d s , a fte r fo re c lo s u r e , eith er
p a id th e ir e q u ip m e n t o b lig a tio n s In fu ll, o r o ffe re d th e h o ld e rs an a d v a n ­
ta g e o u s ex c h a n g e o f secu ritie s, w h ic h a m o u n te d t o m o r e th a n p a y m e n t in
fu ll: D e n v e r & R io G ra n d e R y . . N o r fo lk & W e s te rn R y . — V . 8 4 , p . 52.

New England Investment & Security Co.— Stock Offered.—
Mackay & Co., Boston and New York, are offering at 92
and accrued dividends, yielding the investor 4.32% , a limited
amount of the present outstanding $10,000,000 4% preferred
stock (tax exempt in Massachusetts), about $7,000,000 of
which, it is said, has already been placed with the public.
** T h e p referred d iv id e n d s are gu a ra n te e d b y th e C o n s o lid a te d R a ilw a y C o .,
w h ic h ow n s th e en tire 100 ,000 shares o f c o m m o n s t o c k (n o p ar v a lu e )*
a n d fu r th e r p r o te c te d b y a t h r e e -p a r ty a greem en t b e tw e e n th e N e w
E n g la n d I n v e s tm e n t & S e c u r ity C o ., th e C o n s o lid a te d R a ilw a y C o . a n d
th e N ew Y o r k N ew H a ve n & H a r tfo r d R R .
C o m p a re V . 83, p . 4 9 2 , 1 10 2,
147 4. T h e C on solid a te d R a ilw a y C o .. lt is u n d e rs to o d , w ill s h o r t ly b e




o f 30 fe e t a t lo w w a te r. T h e re w ill b e fir e -p r o o f w are h o u se s o n e ith er s id e,
w h ic h are n e a r ly c o m p le te d . T h e r e c e iv in g a n d s h ip p in g y a r d , in c o n ­
n e c tio n w ith th e slip is pla n n ed t o h a v e 20 m iles o f side tr a c k .
T h e riv e r fro n ta g e o f th e c o m p a n y a t C h aim ette e x te n d s a lo n g th e east
b a n k o f th e M ississippi R iv e r , a b o u t 2 14 m iles. T h e p r o p e r t y runs b a ck
a c o n sid e ra b le d ista n ce an d co n sists o f a b o u t 5 ,5 0 0 a cre s, m u ch o f w h ich
is a d m ira b ly a d a p te d fo r th e lo ca tio n o f In du stries. A t th e p resen t tim e
there Is In o p e ra tio n a t P o r t C h aim ette a w h a r f 2,0 0 0 fe e t lo n g , w ith a shed
1,828 fe e t lo n g ; o n e 500 ,0 0 0 bushel c a p a c it y grain e le v a to r w ith electrica l
p o w e r h o u se , be sid e s 80 b rick w areh ou ses an d an assortin g s h e d . T h e
r o llin g s t o c k co n sists o f: 7 M og u l e n g in es, 8 6 -w h eel s w itch en gin es,
69 flat cars, 3 b o x ca rs, 1 o il ta n k an d 5 c o a c h e s .
D o u b le -tr a c k steel ba scu le lift in g brid g e s h a v e been co n s tr u c te d o v e r
th e n e w Basin Canal an d B a y o u St. J o h n , and there are steel brid g es o v e r
all o th e r d rain age canals w ith th e e x c e p tio n o f th e 17th S t. ca n a l, w h ere
th ere is a w o o d e n tre stle . I t Is p r o p o s e d t o e re ct at o n c e o n Basin S t ..
fro n tin g o n C anal S t ., a h a n d so m e p assen ger d e p o t 82 fe e t w id e a n d e x t e n d ­
in g b a c k 235 fe e t, w ith a tra in -sh e d 700 fe e t lo n g and 82 feet w id e . T h e
first flo o r w ill b e used fo r p u b lic u tilitie s an d th e se co n d fo r o u r general o ffic e s .
T h e p r o c e e d s o f th e $ 2 ,5 0 0 ,0 0 0 2 -y e a r 6 % n o te s so ld t o y o u are t o be
used fo r th e c o n s tr u c tio n o f th e p r o p o s e d p assenger te rm in a l, a n d th e c o m ­
p le tio n o f th e C h aim ette S lip, and th e o th e r Im p ro v e m e n ts n o w in cou rse
o f c o n s tr u c tio n .— V . 8 4 , p . 931 .

New York New Haven & Hartford R R .— Application to
List.— Application has been made to the New York Stock
Exchange to list $3,254,500 additional capital stock, making
the total amount to be issued and authorized to be listed
under this and previous applications $99,069,000; also
$13,911,000 Providence Securities Co. 4% 50-year guaran­
teed gold debentures of 1917.
Valuation of System.— John F. Stevens, who recently re­
signed as Chief Engineer of the Panama Canal Co., will, it
was announced on Monday, “ supervise some special work
for the company.” This is supposed to be the placing of a
valuation on the property.
Shares Offered-Merger of Consol. Ry. Co.— See New Eng­
land Investment & Security Co. above.— V. 84, p. 931, 804.
North-East Texas R y.— Receivership.— Joint Receiver W.
J. Moroney, under date of Dallas, Tex., April 18, has ad­
dressed a letter to the creditors of this road, which extends
ft

A p r.

27 1907-1

THE CHRONICLE.

from Red water to Munz, Tex., 18}-£ miles, and also to the
creditors of the Redwater Lumber Co., saying in part:

997

in R io d e J a n e iro , o n b e in g a p p lied t o , c o n firm e d th e a b o v e s ta t e m e n t .
G aflre has b e e n gra n ted a fra n ch ise b y th e S ta te o f R io d e J a n eiro fo r s o m e
w a te r-p o w e r d e v e lo p m e n t, b u t th is fra n ch ise d o e s n o t a p p ly t o th e F e d era
d is tric t an d has n o c o n n e c tio n w ith th e c it y o f R i o de J a n e iro a n y m ore
th a n a N ew Y o r k S tate fra n ch ise fo r B u ffa lo w o u ld a p p ly t o N ew Y o r k C it y .
T h e R io d e J an eiro T r a m w a y , L ig h t & P o w e r C o . has th e a b s o lu te
m o n o p o ly fo r lig h tin g , w h ich w as co n firm e d b y th e S u p re m e C o u r t a y e a r
ago.
It also has th e m o n o p o ly fo r th e tra n sm ission a n d d is t r ib u t io n in th e
c it y o f R io o f e le ctr ic p o w e r , g en erated b y w a te r p o w e r , u n til 1 9 1 5 . T h is
has n e v e r been q u e s tio n e d .— V . 84, p . 932 , 804.

O n A p ril 13 1907 H a r ry M unz o f T e x a rk a n a . T e x ., an d m y s e lf w e re a p ­
p o in te d co -re ce iv e rs o f th e a b o v e -n a m e d c o m p a n ie s b y H o n . E. B . M u se ,
J u d ge o f th e F o r t y -fo u r t h Ju d icia l D is trict C ou rt o f D allas C o u n t y , T e x .
B o th these com p a n ie s are o w n e d b y th e sam e s to c k h o ld e r s , a n d t o g e t h e r
c o n s titu te on e p la n t, an d fo r p r a c tic a l p u rp o se s th e y m a y b e c o n s id e r e d
o n e c o m p a n y . T h e p rin c ip a l assets are a saw a n d p la n ln g -m lll p la n t ,
r a ilroa d , s ta n d in g tim b e r , lo g g in g o u tfit an d a large a m o u n t o f v a lu a b le
la n d s , agg reg a tin g $ 5 1 5 ,3 1 1 , a c c o r d in g t o a c o n s e r v a tiv e a p p ra ise m e n t re­
Sao Paulo Tramway, Light & Power Co.— Report.— Re­
c e n t ly m a d e b y e x p e rie n ce d an d disin te re ste d e x p e r ts .
T h is d o e s n o t in ­
sults for calendar year and 3 months ending March 31:
clu d e n o te s , a c c o u n ts an d s u n d ry o th e r ite m s o f u n c e r ta in v a lu e .
I
am a d v ise d th a t th e lia b ilitie s w ill n o t e x c e e d $ 1 5 0 ,0 0 0 , o f w h ich m ore Y e a r .
G ross.
N et.
C harges. D l v s . ( 8 % ) B a l.,s u r .
th a n h a lf is secu red b y s u n d ry m o r tg a g e s .
A receiversh ip b e c a m e necessary
......... $ 2 ,0 1 8 ,7 0 4
$ 1 ,3 6 8 ,1 6 3
$35 9,88 2
$ 5 9 9 ,9 7 0
$408,311
190 6
m a in ly b ecau se a re ce n t fire so d a m a g e d th e c o m p a n y 's saw m ill th a t o p e r a ­
190 5
1 ,9 0 8 ,4 0 5
1 ,2 7 3 ,8 3 2
311 .2 0 5
5 9 9 ,5 9 4
3 63 ,033
tion s w ere su spen d ed an d all In c o m e c e a s e d .
I h a v e assurances fro m m en
3 m os.
o f k n o w n res p o n s ib ility th a t t h e y are w illin g t o p u rch ase a s u fficie n t in ­
190 7
................. $47 9,79 7 $ 1 5 8,12 5
................... .
.........................................
terest t o p a y all d e b ts as so o n as t h e e x a c t c o n d itio n o f affairs ca n be c e r ­
190 6
............
420,871
86,6 0 5
................................................................... ..
tain] v ascertain ed an d o th e r n e c e s s a r y details arran ged.
— V . 83, p . 1412.

North Chicago Street R R .— Deposits.— See Chicago Union
Traction Co. above.— V. 83, p. 1524.
Ocilla & Valdosta R R .— Sale.— This road, extending from
Ocilla, Ga., to Broxton, 25 miles, and under construction to
Fitzgerald, has been purchased by a syndicate represented
by H. C. McFadden. “ Savannah News” of April 17 said:

St. Charles & St. Louis County Bridge Co.— Foreclosure
Suit.— At Clayton, Mo., on April 17 the Commonwealth
Trust Co. of St. Louis, as trustee, under the $400,000 mort­
gage of 1904, brought suit for foreclosure and the appoint­
ment of a receiver upon request of holders o f $160,000 of
the bonds, no interest having been paid thereon.

T h e n ew m a n a g e m e n t
u n til a n ew ch a rter ca n
H a zleh u rst & S av an n ah
p r a c tic a b le b eca u se th e
w a s sold re c e n tly t o th e

t o o k ch arg e M o n d a y , and w ill o p e r a te te m p o r a r ily ,
b e se cu re d , u n d e r th e o ld ch a rte r o f t h e B r o x to n
RR.
T h e use o f th e p resen t ch a rte r w ill be Im ­
s e c tio n o f th e r o a d fro m B r o x t o n t o H a z le h u rst
G eorgia & F lo rid a R y .

T h e b r id g e is a h ig h w a y a n d t r o lle y s tr u c tu re , 2 ,7 0 0 fe e t in le n g th , e x ­
te n d in g fro m S t. L o u is t o S t. C h arles, h a v in g b e e n b u ilt p r im a rily t o b r in g
th e S t. L o u is S t. C harles & W e s te rn (e le ctric) R R . acro ss t h e M issouri
R iv e r . T h e M id la n d B rid g e C o . o f K a n sa s C it y . M o ., w h ic h c o n s t r u c te d
th e brid g e and w h ich secu red a ju d g m e n t a n d m e c h a n ic s ’ lien a g a in st it
fo r n e a r ly $ 1 8 ,0 0 0 , is m a d e a d e fe n d a n t.— V . 7 8 , p . 703 ; V . 7 5 , p . 7 8 .

Philadelphia & Western (Electric) R R .— Foreclosure Sale
May 20.— The Trust Company of North America, Philadel­
phia, which was recently appointed trustee of the $15,000,000
bond issue in place of the Mississippi Valley Trust Co. of
St. Louis, gives notice that the property will be sold at
auction at West Chester, Pa., on May 20. Every share of
stock ahd every bond is in the possession of the syndicate,
headed by Mackay & Co. and Wm. C. Sheldon & Co. of
New York. The foreclosure proceedings are merely a matter
of form, with a view to the readjustment of the capitaliza­
tion. The St. Louis interests, it is understood, have sold
most of their holdings. The financial plan has not been
definitely settled, but Joseph S. Clark, Second Vice-President
and General Counsel for the Trust Company of North
America, is quoted by the “ Philadelphia Ledger” as follows:

Southern Indiana R y.— Financial Plan.— See Chicago
Southern Ry. above.— V. 84, p. 932.
Terre Haute Indianapolis & Eastern Traction Co.— Bond
Issue.— A mortgage has been filed to the Fidelity Trust Co.
of Philadelphia, trustee, to secure, it is said, an issue of
$10,000,000 25-year bonds dated April 1 1907.— V .84, p. 869.
Toledo Railway & Terminal Co.— Foreclosure Sale M ay 28.
— Notice is given by advertisement that the foreclosure sale
will take place in Toledo on May 28. Upset price $2,000,000.
— V. 84, p. 932, 627.
Trinity & Brazos Valley R y.— Bonds.— Application was
made on April 13 to the Texas Railroad Commission for au­
thority to issue bonds to the amount of $1,500,000 on 14
miles of completed road into Waxahachie, and including
improvements not heretofore valued by the Commission on
the remainder of the company’s lines south into Houston.
The “ Houston Post” said:

O f th e a u th orized issue o f $1 5 ,0 0 0 ,0 0 0 first m o rtg a g e b o n d s $ 2 ,1 4 9 ,0 0 0
w o rth are o u ts ta n d in g (in th e h an d s o f t h e s y n d ic a t e .— E d .) . B e sid e s th is ,
th ere are d e b ts o f $ 1 ,5 0 0 ,0 0 0 . T h e c o m p a n y is c a p ita liz e d at $ 9 0 0 ,0 0 0 .
T h is w ill b e in crea sed t o b e tw e e n $ 3 ,0 0 0 ,0 0 0 a n d $ 4 ,0 0 0 ,0 0 0 . A b o u t th e
sam e a m o u n t o f th e p r o p o s e d au th o riz e d issue o f $ 5 0 ,0 0 0 ,0 0 0 b o n d s w ill b e
a c tu a lly Issued.

The company was incorporated in 1902 to construct a
double-track third-rail electric line between 63d and Market
streets, Philadelphia, and Parkersburg, Pa., a distance of
about 45 miles. About 12 miles of double-tracked road
will be opened early in May and the syndicate intends to push
the completion of the system, which will probably be more
extensive than was originally intended.— V. 82, p. 693.
Portland (Ore.) Railway & Light Co.— Mortgage.— This
company has filed a mortgage to the Trust Co. of North
America, Philadelphia, as trustee, to secure an issue of
$15,000,000 general mortgage bonds, of which it is proposed
to issue only $1,500,000 at present, these to be used as col­
lateral to secure an issue of $1,000,000 3-year 5% notes
of $1,000 each dated March 1, 1907.— V. 84, p. 749, 627.
Providence Securities Co.— Application to List.— See New
York New Haven & Hartford R R . above.— V. 83, p. 1525.
Raleigh & Southwestern R y.— Mortgage.— A mortgage
has been filed to secure $1,500,000 of 4% bonds to provide
for the building of a road from a connection with the Piney
branch of the Chesapeake & Ohio at or near Raleigh Station
up the Piney River and tributaries, thence down any tribu­
taries of the Guyandotte River in Raleigh or Wyoming coun­
ties; also from near Raleigh Station up Beavers Creek,
thence into the valley of Glade Creek or any of its tributaries.
The project is currently reported to be a Chesapeake & Ohio
enterprise.
Rapid Transit in New York City.— No Bids Received for
New Subways.— No bids were received by the Rapid Transit
Commissioner on April 25, the time appointed for the opening
of bids for the construction of the new subways. Compare
V. 84, p. 869. President Shonts, of the Interborough Rapid
Transit Co., however, wrote a letter offering to construct
and equip at cost under proper conditions two extensions
of the present system, one on the west side from Forty-second
Street to the Battery, and the other on the east side from
Forty-second Street to the Bronx, provided a reasonable
return on the company’s investment is ensured. See “ New
York Times” of April 26.— V. 84, p. 869.
Rio de Janeiro Tramway, Light & Power Co.— No Light­
ing and Power Competition.— The “ Chronicle” recently
published a statement, furnished to it by a prominent manu­
facturing concern, as holder of a contract for furnishing sup­
plies, from which it appeared that a rival concern had
been granted a concession for supplying light and power in
the City of Rio de Janeiro, the false impression being no
doubt occasioned by the confounding of the State of Rio out­
side of the Federal District, which includes the City of Rio
de Janeiro, with the City of Rio de Janeiro itself. General
Counsel of the company, Z. A. Lash, has issued the follow­
ing detailed denial:
T h e rep ort th a t G aflre and G uln le h ad o b ta in e d a c o n ce s s io n fo r lig h tin g
and p o w e r in th e c it y o f R io d e J an eiro Is a b s o lu te ly fa lse. T h is r e p o rt w as
o ffic ia lly d en ied in L o n d o n and P aris a fte r re ce ip t o f a ca b le fro m th e V ic e P resid en t and G eneral M anager o f th e c o m p a n y in R io d e J a n e iro .
T h is
t a b le s ta ted th a t G aflre an d G uln le h a ve n o t o b ta in e d a n y co n ce s s io n In
t b e F ed era l d is t r ic t . J iT h e M in ister o fJ n d u s t r ie s , T ra ffics an d P u b lic W o r k s




T h is w ill co m p le te th e lin e o f th a t ro a d fro m W a x a h a c h ie t o H o u s t o n , a
d ista n ce o f 220 m iles. T h e c o m p a n y has a lre a d y c o m p le te d th e line fro m
T e a gu e t o F o rt W o r t h , u sin g th e S a n ta F e tr a c k s fro m C lebu rn e t o F o r t
W o r t h , 120 m ile s. T h e y w ill also use th e tr a c k s o f th e K a t y fr o m W a x a ­
h a ch ie and D allas an d w ill be o p e r a tin g train s b e tw e e n th ese p o in t s on or
a b o u t Jun e 1 1907.
T h is c o m p a n y has s h orten ed th e d is ta n c e 13 m iles b e tw e e n H ou ston and
F o r t W o r th , an d has cau sed th e fare o n o th e r ro a d s t o b e co r re s p o n d in g ly
re d u c e d , an d has s h orten ed th e m ileage In v a rio u s p o in t s In N o rth T e x a s .
V . 84, p . 509.

Virginian R y.— Merqer Approved.— See Deep water Ry.
above.— V. 84, p. 694, 627.
Wabash R R .— Listed.— The New York Stock Exchange
has listed $368,000 additional first lien 50-year 4% terminal
coupon bonds due 1954, making the total listed $3,923,000.
Earnings.— For eight months ending Feb. 28:
Gross
N et
Other
F ir s t
S u n d ry Im p r o v ’ ts, B a l.,
E a rn in g s. E a rn in g s. In com e. C harges. A c c ts .
E q u ip .,& c . S u r
8 m o s.—
$
$
$
$
$
$
$
1 9 0 6 -0 7 . 1 8,236,963 5,4 4 0 ,1 2 5 7 7 5 ,5 9 5 4 ,3 7 1 ,4 1 5 16,290 1 ,7 0 0 ,0 0 0 1 2 8 ,0 1 5
............................................. ..
.............
1 9 0 5 -0 6 . 1 6 ,6 7 5 ,2 6 0 4 ,7 5 5 ,0 4 5 .............
— V . 84, p . 932, 869 .

Washington Baltimore & Annapolis Electric R y.— Con­
tract.— See report of United Railways & Electric Co. under
“ Annual Reports” on a preceding page.— V. 83, p. 1525.
West Chicago Street R R .— Deposits Called F or.— See
Chicago Union Traction Co.— V. 83, p. 1349.
West Penn Railways.— Earnings.— The Municipal & Cor­
poration Securities Co. of Pittsburgh, in recently offering a
block of the first mortgage 5% bonds of 1905, reported earn­
ings as follows:
C a l. Y r .—
G ross.
1 9 0 6 ...................$1,4 0 9 ,4 9 3
19 0 5 ___________ 1 ,0 6 0 ,2 3 8
— V . 8 4 , p . 451 .

N et.
B on d In t.
$035,517
$378,322
480 ,4 8 0
3 26 ,675

P r e f. D iv .
(5 % )$ 1 3 7 ,5 0 0
____________

B a l., S u r.
$ 1 1 9 ,6 9 5
1 53 ,805

INDUSTRIAL, GAS AND MISCELLANEOUS.
Albemarle & Chesapeake Canal Co.— Possible Purchase by
United States Government.— The Congress which recently
adjourned passed a “ river and harbor bill” in which recog­
nition is given to the project for the establishment of a
public inland waterway between Virginia and North Carolina.
The “ Scientific American” of April 13 says in part:
T h e re p o rts o f th e engineers m a k in g th e su r v e y s a u th o r iz e d b y th e A c t s
o f 1902 an d 1905 c o n s id e r e d c a r e fu lly all a v a ila b le ro u te s , a n d d e c id e d
th a t t w o w e re so n e a r ly e q u a l In a d v a n ta g e s an d d is a d v a n ta g e s t h a t th e
m o n e ta r y c o n s id e r a tio n alon e s h o u ld fo rm t h e d e c id in g fa c t o r . T h ese tw o
ro u te s are k n o w n as th e A lb e m a r le & C h esapeak e C a nal a n d th e C o o p e r
Creek r o u te s , r e s p e c tiv e ly , th e fo rm e r c o n te m p la tin g th e p u rch a se o f th e
A lb e m a rle & C h esapeake C a n a l. w h ic h c o n n e c t s C h esapeake B a y v ia E liz a ­
b e th R iv e r w ith C u rritu ck S o u n d : an d th e la tte r n e g le c tin g th e p u rch a se
o f t h a t can al an d d ig g in g a n e w on e fro m E liz a b e th R iv e r t o C o o p e r C reek,
a b r a n c h o f th e P a sq u o ta n k R iv e r w h ic h Is an arm o f A lb e m a rle S ou n d .
W ith th e p u rch a se p rice o f t h e a lr e a d y e x is tin g A lb e m a rle & C h esapeake
can al a t a figu re n o t e x c e e d in g $ 5 0 0 ,0 0 0 , t h e fo rm e r is r e c o m m e n d e d .
I f th e p r ice ask ed is h ig h er, th e la tte r r o u t e Is r e c o m m e n d e d .
W h ile n o
exp ression o f o p in io n w h ich Is In a n y w a y o ffic ia l ca n b e o b ta in e d fro m
th e c a n a l c o m p a n y , It seem s t o be th e general Im pression th a t th e a m o u n t
n a m e d is s u fficie n t t o m a k e th e p u rch a se assu red.
A s th e p r o je c t stan d s a t p re se n t, th e s u rv e y s h a v e all been m a d e , and
$55 0 ,0 0 0 a p p ro p r ia te d t o d o th e w o rk o n th e th ird d iv is io n ; t h a t is, th e
lo w e r end o f th e r o u te .
T h is in clu d e s fo u r m iles o f s o lid e x c a v a t io n fro m
th e N euse R iv e r t o B e a u fo r t In le t th r o u g h C ore C reek — th e o n ly so lid e x ­
c a v a tio n n ecessary In th e en tire r o u t e , If th e A lb e m a r le & C h esapeak e
C anal fo rm s a p a r t o f i t . — V . 77, p . 351

Albuquerque (N. M .) Gas, Electric Light & Power Co.—
New_Stock.— This corporation_filed at Santa Fe, N. M., on

998

THE CHRONICLE.

March 26 a certificate of increase of capital stock from $200,000 to $500,000, of which a part is preferred.
A n n u a l gas o u t p u t a b o u t 2 0 ,0 0 0 ,0 0 0 c u b ic fe e t; N o . o f m e te rs, 1 ,2 0 0 ;
m iles o f gas m a in , a b o u t 15; e le ctric d e p a rtm e n t c a p a c it y , 250 arcs an d 30,000 in c a n d e s c e n t la m p s . “ T h e c o m p a n y is a c lo s e c o r p o r a t io n — held b y “
f o u r p e o p le — n o th in g offe re d fo r s a le .”
P r e s ., W . S. Illff; S e c ., C. K . D u r­
b in : T r e a s ., O . S . M o o re .

American Gas & Electric Co., New York.— First Dividend.
— The directors on April 22 declared regular quarterly divi­
dend No. 1 of 13^% on the outstanding $1,200,000 preferred
stock for the quarter ending May 1 1907, and an additional
dividend at the fate of 6% per annum from Jan. 16 to Feb. 1
1907, payable May 1 1907 to stockholders of record April
25 1907.
Earnings of Company Whose Assets Were Purchased.— See
Electric Co. of America below.— V. 84, p. 222.
American Ice Securities Co.— Amendment of Charter.— The
stockholders will vote on April 29 on authorizing changes in
the certificate of incorporation, giving .the company, among
other things, authority as follows:
T o m a n u fa c tu r e , g a th e r , h a rv e s t, b u y a n d sell ic e a t w h olesa le an d re ta il;
t o a cq u ire b y p u rch a s e , lea se o r o th e rw is e , and o p e r a te , sell, tra d e an d deal
in all k in d s o f ic e -m a n u fa c t u r in g p la n ts , ice -m a k in g m a c h in e r y , & c ., and
dea l in c o a l, w o o d , lu m b e r , b u ild in g and b u ild e rs’ m a terial; t o a cq u ire b y
p u rch a se o r lease a n d c o n s t r u c t an d o p e r a te p la n t, m a ch in e ry an d a p p lia n ce s
fo r th e d is tillin g o f w a t e r , an d g en era lly t o ca rry on th e business o f b u y in g
a n d sellin g w a te r, in c lu d in g n a tu ra l, m in era l an d o th e r w a te rs; t o a cq u ire ,
o w n , e q u ip , o p e r a te a n d d isp o se o f s te a m b o a ts , ste a m sh ip s and vessels
o f e v e r y d e s c r ip tio n , and t o deal in and d is p o s e o f m erch a n d ise an d c o m ­
m o d itie s o f all kin d s.

Similar powers to those above named are possessed by the
American Ice Co., the present operating company, and it is
supposed the step to be taken is to provide for the merger
of the old company when the consolidation can be made ac­
cording to law, as well as the acquisition of other properties
when deemed desirable.— V. 84, p. 933, 750.

[V ol .

lx x x iv .

h a v e n o t b e e n m a d e p u b lic , b u t It is u n e rs to o d t o b e th e In te n tio n t o brin g
a b o u t clo se r re la tion s an d t o p r o v id e fu n d s fo r e x te n s io n s t o tak e ca r e o f the
r a p id ly g r o w in g e le ctr ic lig h t b u sin ess.
T h ere h a v e been ru m ors fro m tim e t o tim e o f th e sale o f th e te le p h o n e
an d e le ctr ic p la n ts , b u t th e y h a ve alw a y s been d e n ie d b y t h o s e In a u t h o r it v .
— V . 82, p . 283 .

Bergner & Engel Brewing Co., Philadelphia.— First Pay­
ment on Deferred Dividends.— The directors on April 20
declared the usual semi-annual dividend of 4% on the $1,523,900 preferred stock, and, in addition, a deferred semi­
annual dividend of 4% on the preferred stock, payable
May 1 to stock of record April 20. This is the first payment
on account of the 36% of dividends which accumulated in
1900-1904. The floating debt was paid off last year. Com
pare V. 83, p. 1522.
(B. F .) Berry Coal Co., Detroit, Mich.— New Bonds Of­
fered.— As stated last week, the Detroit Trust Co., Detroit,
Mich., is offering at par and interest the entire issue of $200,000 first mortgage 6% coupon gold bonds of $1,000 each.
Th ese b o n d s are d a te d A p ril 1 1907 an d p a y a b le In te n ann u al in stall
m e n ts, b u t are s u b je c t t o re d e m p tio n at 103 A p ril 1 1908, o r o n a n y in te re s t
d a te th e re a fte r.
In terest p a y a b le A p ril 1 a n d O c t . 1 at o ffic e o f th e D e tr o it
T ru st C o ., w h ose P re s id e n t, A le x a n d e r M c P h e r s o n , is th e m o r tg a g e tru stee.
T h e p rin cip a l s to c k h o ld e r s are B e n ja m in F . B e rry a n d S ta n fo r d T . C rap o
o f D e tr o it.
S e cu rity fo r m o rtg a g e : (1) 80 acres o f s u rfa ce n e a r G ra n v ille , P u tn a m C o .,
111., w ith s to re , s h a ft, tip p le , c o a l-w a s h in g p la n t , sh op an d m in ers’ h ou ses,
& c.; (2) a lease ru n n in g till J u ly 31 1945 fro m th e S t. P aul C oal C o . (a s u b ­
sid ia ry o f th e C h ica go M ilw aukee & S t. P aul R y . C o . ) , c o v e r in g 2,5 6 0 a cres
o f coa l lan d lo ca te d In P u tn a m C o u n ty , 111.; (3) v a lu a b le c o n t r a c ts t o be
assigned t o th e tru ste e : (a) fo r th e sale o f 2 ,0 0 0 ,0 0 0 to n s % -in c h lu m p coa l
t o th e C h l c a M i l w a u k e e & S t. P aul R y .; (b) w ith th e C h ica g o P o r tla n d
C em en t C o . f o th e sale o f 8 4 0 ,0 0 0 to n s o f raw sla ck .
F . A . R a y , a m in in g
en gin eer, e stim a te s th a t th e p r o p e r t y c o n ta in s 1 1 ,5 2 0 ,0 0 0 to n s o f m er­
ch a n ta b le run o f m in e c o a l, and w ill g iv e a y e a r ly o u t p u t o f 3 0 0 ,0 0 0 t o n s .
" T h e c o m p a n y also has e re cte d a co a l-w a s h in g p la n t w ith a c a p a c it y o f
' w ash in g 600 t o 1,000 to n s o f coa l p er d a y .
T o ta l v a lu a tio n o f m ln e f m in in g
p la n t and c o a l w ash er. $ 4 5 2 ,8 5 0 .”

(J. G.) Brill Co., Philadelphia.— Dividends Begun on Both
American Pneumatic Service Co .— Amendment of Charter. Stocks.— The directors on Tuesday declared initial dividends
— The stockholders will vote on May 1 on amending the °f 1 M % on the preferred and 1% on the common stocks,
■company's charter so that it shall have the power to re­ payable May 1 and June 1 respectively. These distribu­
insure the bonds of others given to secure the performance of tions are understood to be quarterly, though it was not
contracts in the course of its business. President Dillaway officially so stated. They are paid on $5,000,000 of each class
in a circular says:
of stock. The old J. G. Brill property paid dividends
S u re ty com p a n ies are n o w lim ite d b y th e U n ite d S tates G o v e rn m e n t fro m
steadily since its organization in 1869.
t a k in g a n y single risk e x c e e d in g 1 0 % o f c a p ita l an d surplus w it h o u t re ­
New Director.— Francis E. Bond, of E. B. Smith it Co.,
in su rin g . T h is c o m p a n y has a lre a d v th e n ecessary a u t h o r it y t o c a r r y on
th is business u n d er th e law s o f th e U n ite d S tates, an d n o w has t h e o p p o r ­
has been elected a director.
t u n it y o f a c tin g as a re-in su rin g c o m p a n y on su rety b o n d s o f th e h igh est
Earnings.— The “ Philadelphia News Bureau” of April 10
class an d o f th e least risk , w ith o u t th e in v e s tm e n t o f a n y m o n e y o r th e
e m p lo y m e n t o r t y in g u p o f a n y o f its a c tiv e c a p ita l, o r u sin g a n y o f its
had the following, which is pronounced approximately
presen t earn in gs.
I f w e are su ccessfu l in g e ttin g th is a d d itio n a l business
correct:
it prom ises a large Increase in o u r p r o fits . T h e a m e n d m e n t o f the ch a rte r
last S e p tem b er (V . 83, p . 494) so as t o p e rm it th e c o m p a n y t o a c t as s u r e ty
o n th e b o n d s o f its su b sid ia ry co m p a n ie s h a v in g c o n t r a c ts w it h t h e U n ited
S^at^s' ha® -^ su ited in a s a v in g o f o v e r $ 1 8 ,0 0 0 p e r y e a r in p r e m iu m s .—
V . 84, p . 869 .

American Silk Co.— Merger.— This company, incorporated
at Albany on April 10 with a nominal capital of $1,000,
filed a certificate increasing its capital to $6,250,000, of
whi3h $2,750,000 is 7% cumulative preferred stock and
$3,500,000 common stock. The company is organized for
the purpose of acquiring about 30 silk mills, located prin­
cipally in Pennsylvania, and it has acquired a controlling
interest in the New York Silk Manufacturing Co. (V. 81,
p. 1608, 1616), owning and operating mills at York, Carlisle,
Fleetwood and Kutztown, Pa.; the Monarch Silk Co., with
mills at York; the American Silk Co. of Pennsylvania, with
mills at Reynoldsville; also the Clifton Mills and the business
of Rogers & Thompson, silks. Bond issie, if any, not
known.
A statement published by the “ Journal of Commerce and
Commercial Bulletin” on April 13, which is pronounced sub­
stantially correct, says:
It is sta ted th a t w hen th e present plans are c o m p le te d th e c o m p a n y w ill
h a v e a ca p ita liza tion o f $ 1 0 ,5 0 0 ,0 0 0 o f 7 % c u m u la tiv e p referred an d $12 ,0 0 0 ,0 0 0 o f c o m m o n s t o c k , a large p a rt o f w h ich has a lre a d y been u n d e r ­
w ritte n . T h e C lifto n Mills and th e business o f R o g e rs & T h o m p s o n , m a n u ­
fa c tu re r so fth e fa m ou s " R a j a h ” an d " B o n d " silks, h a v e been a c q u ir e d ,
a n d w ill be ta k en o v e r w ith in a few d a y s , and th e re m a in in g fa c to r ie s ,
all o f w h ic h are m o d e r n , w ill be ta k en o v e r as r a p id ly as p e n d in g a rran ge­
m e n ts ca n b e c o m p le te d .
T h e p referred s to c k Issue is n o t t o e x c e e d $700 fo r e a ch w e a v in g lo o m
an d $350 p er lo o m fo r s p in n in g an d t h r o w in g , in c lu d in g d y e in g , finishing
a n d p r in tin g p la n ts , real e sta te , b u ild in g s a n d c o m p le te e q u ip m e n t, an d
$500 p e r lo o m fo r w o rk in g c a p ita l.
T h e c o m p a n y w ill h a ve In a d d itio n
a m p le cash w o rk in g c a p ita l t o p u rch a se raw m aterial at th e best p rice s o b ­
ta in a b le , an d t o m a n u fa ctu re an d sell its p r o d u c tio n on a large scale.
M atthew G . C ollin s, G eneral M anager o f th e Y o r k Silk M ills, w ill be
t h e M anager.

H. W . Bennett & Co. of 20 Broad St. are promoting the
enterprise. The Knickerbocker Trust Co. is registrar.
American Strawboard Co.— Balance Sheet.— See United
Box Board & Paper Co. under “ Annual Reports” on a pre­
ceding page.— V. 84, p. 750, 692.
American Telephone & Telegraph Co.— Payment of $20,000,000 5% 3-year Gold Coupon Notes Maturing May 1 1907.
— These notes will be paid in New York at the office of the
Manhattan Trust Co., 20 Wall St., or in Boston at the
office of the Old Colony Trust Co.,. Ames Building. See
advertisement on another page of this issue and compare
V. 84, p. 273, 817.— V. 84, p. 933, 869.
Baltimore (Md.) Electric Power Co.— Deposit of Bonds.
— The Baltimore Trust & Guarantee Co. of Baltimore
and the Northern Trust Co. of Philadelphia are receiving
deposits of bonds of this company and its ally, the Maryland
Telephone & Telegraph Co. (V. 77, p. 2096; V. 79, p. 631;
V. 80, p. 1061; V. 81, p. 268; V. 82, p. 283.) An exchange
says:
S everal w eeks a g o th e c o m p a n ie s sent le tte rs t o th e b o n d h o ld e r s a sk in g
th a t th e y d e p o s it th eir b o n d s in c o n n e c tio n w ith th e c a r r y in g o u t o f a new
fin a n cial p la n .
P r a c t ic a lly all th e b o n d s are In.
D eta ils o f th e new plan




E a rn ing s o f the C o n stitu en t P r o p e r tie s fo r C alendar
J . G . B rill A m e r ica n G .C .K u h lC o.
( 'a r C o . m anC arC o.
S a le s .............................. $3,8 1 0 ,9 7 4 $962,484 $ 1 ,0 5 3 ,9 9 2
$40 1,03 5 $15 9,26 8
$ 1 7 0,34 8
N et e a - n i ii r * ________
O th er In c o m e _______
78,461 _____ _
________
N et in c o m e _______
B on d In te re s t_______
D iv i d e n d s ...............

$47 9,49 6 $ ’. 5 9 ,2 6 8
_________
________
180,000
3 5 ,000

$ 1 7 0,34 8
________
3 5 ,0 0 0

Y e a r 1906.

J .S te p h e n * W ason
son C o . M fg . C o.
$ 1 ,0 8 0 ,8 9 4 $ 9 6 7,15 5
$15 9,28 3
$46 ,781
325
725
$15 9 ,6 0 8
2 0 ,0 0 0
2 1 ,0 0 0

$ 4 7 ,5 0 6
250
3 9 ,0 0 0

S u r p l u s ___________ $23 9,49 6 $ 1 2 4,26 8
$ 1 3 5,34 8
$ 1 1 8 ,6 0 8
$ 8 ,2 5 6
*
S ta te m e n t o f W a so n M a n u fa ctu rin g C o. is fo r c a le n d a r y e a r 1 90 5.
F or
th e y e a r 1906 th e c o m p a n y re p o rts its n e t p ro fits at "b e t w e e n $ 6 5 ,0 0 0
an d $ 7 0 ,0 0 0 .”
A p p r o x im a te R esults fo r N ew C o m p a n y on B a sis o f 190 6.
G ross e a r n in g s ____________ $8,000,0001 P r e f. d iv id e n d s , 7 % _________ $ 3 5 0 ,0 0 0
N et in c o m e ________________ 1 ,0 4 0 ,0 0 0 1B a lan ce (1 3 .8 % o n c o m .) __ 6 9 0 ,0 0 0
T h e to t a l n e t earnings o f th e Brill C o. an d its s u b sid ia rie s fo r th e y e a r
1906 w ere $ 1 ,0 0 1 ,8 9 7 . T h is a m o u n t, a fte r p r o v id in g f o r 7 % d iv id e n d s
on th e n ew preferred s to c k , w o u ld leav e a surplus o f o v e r 1 2 % on th e
$ 5 ,0 0 0 ,0 0 0 c o m m o n s to c k .
T h e o n ly b o n d e d d e b t is th e Issue o f $ 4 0 0 ,0 0 0
tirst m o rtg a g e 5 % b o n d s o f J o h n S tep h en son C ar C o .
(V . 7 2 , p . 187.)
T h e plants are all w o rk in g t o their full c a p a c it y an d th e c o m p a n y has
$4 ,0 0 0 ,0 0 0 o f ord ers o n h a n d .
A s th e c a p a c it y o f th e p la n ts is a p p r o x i ­
m a te ly $ 8 ,0 0 0 ,0 0 0 p e r a n n u m , th e p r o d u c t io n o f th e c o m p a n y Is p r a c t ic a lly
b o o k e d up In a d v a n c e fo r six m o n th s .
C o m p a re V . 84. p . 869 , 751 .

California Oilfields, Limited.— Listed in London.— The
London Stock Exchange has listed this company's £300,000
5% first mortgage debentures of £100 each, Nos. 1 to 3,000
(registered), and a further issue of 135,000 shares of £1 each,
fullv paid. Nos. 250,001 to 385,000. Compare V. 83, p. 91;
V. 81, p. 1377.
Charleston (W. Va.) Home Telephone Co.— Status.— We
have been favored with the following under date of March 30:
In c o r p o r a te d in W est V irg in ia A p ril 1 1902.
A u th o riz e d ca p ita l s to c k
Is $ 2 0 0,00 0 c o m m o n and $10 0 ,0 0 0 6 % c u m u la tiv e p re fe rre d ; o u ts ta n d in g
c o m m o n $ 16 0,00 0; p referred $ 5 8 ,2 0 0 .
P a r $100.
B o n d s o u t s ta n d in g
$12 5,00 0 (a u th o rize d issue u n d e r m o rtg a g e o rig in a lly $ 2 0 0 ,0 0 0 , b u t n o w
lim ite d t o $ 1 2 5,00 0 at presen t o u t s t a n d in g ), d a te d A p ril 16 1902 an d d u e
A p ril 1 1922 w ith o u t o p t io n o f earlier r e d e m p tio n .
In te re st p a y a b le O c t . 1
and A p ril 1 at o ffic e o f C o lu m b u s (O .) S a v in g s & T ru s t C o ., tr u s te e .
D e­
n o m in a tio n $100 and $500.
A n n u a l sin k in g fu n d 2
% o f th e a m o u n t o f
o u ts ta n d in g b o n d s.
T h e re is n o w in this fu n d $ 1 3 ,2 0 0 b o n d s an d $412 50
cash .
A s o f A p ril 1 .s u ffic ie n t p re f. s to c k w ill be sold t o p a y all o u tsta n d in g
o b lig a tio n s an d t o p r o v id e a b o u t $ 2 5 ,0 0 0 fo r n ew Im p r o v e m e n ts .
The
p la n t has o p e ra te d fo r a b o u t 41 % o f th e gross r e ce ip ts .
T h e n et earn in gs
fo r th e y e a r e n d in g O c t . 1 1906 w ere $ 2 8 ,7 1 6 .
D e d u c t Interest on b o n d s,
$ 6 ,250: sin k in g fu n d , $ 3 ,1 2 5 : d iv id e n d s on p re fe rre d s t o c k , $ 3 ,4 3 2 ; Interest
o n b o r r o w e d m o n e y , $ 1 6 ,0 0 0 at 6 % , $960; b a la n c e , s u rp lu s, $ 1 4 ,9 4 9 . T o
M arch 1 1907 $35,014 fro m e a rn in gs had been e x p e n d e d fo r b e tte r m e n ts .
P re sid e n t, J . W . P a y n e ; S e c . a n d T r e a s ., W . W . M o rriso n .

Chase Rolling Mill Co., Waterbury, Conn.— Increase.—
The stockholders of this company voted on March 30 1907
to increase the capital stock from $1,200,000 to $2,500,000.
No bonds or mortgage. Of the new stock $600,000 is to be
taken by the present stockholders, making outstanding
$1,800,000, all of one class; par, $100. Company incor­
porated in Connecticut July 1900; operates a brass rolling
mill. H. S. Chase is President and Frederick S. Chase,
Treasurer.
Chicago Edison.— Sale of Bonds.— The first installment,
amounting to $2,500,000, of the new 5% debentures has
been sold and^the remaining $2,500,000 were last week

A p r . 27 1907.]

999

THE CHRONICLE.

offered in Chicago at 97 K - See full particulars in V. 84,
p. 695.
Chicago Pneumatic Tool Co.— Earnings.— The results for
the three months ending Mar. 31 were:
N et
D ep re c ia t'n , B on d
S in k in g
B a la n ce,
3 m os. P r o fits .
A c.
In terest.
Fund.
D ivid en d s.
S u rp lu s.
1907
$ 2 5 5,52 8
$ 4 2 ,7 1 7
$28 ,7 5 0
$ 1 2 ,5 0 0
(1 % ) $ 61 ,087
$11 0,47 4
1906 ____ 232 ,322
3 6 ,3 2 8
2 8 ,7 5 0
1 2 ,5 0 0
(1 % ) 6 1 ,087
94,657
T o t a l su rplu s M a rch 31 1907, $ 9 8 8 ,8 8 3 , a g ain st $6 3 0 ,9 4 9 M arch 31 1906.
— V . 84, p . 696, 389 .

Citizens’ Steamboat Co. of Troy.— Offer to Purchase.— The
directors on Monday adopted a resolution to dissolve the
company and to have the stockholders vote on the proposi­
tion in June next; also in favor of an offer by Charles W . Morse
to the stockholders, through N. H. Campbell, Treasurer of
the Hudson Navigation Co.
T h e offe r Is th a t If th e s to c k h o ld e r s w ill sen d th e ir ce r tific a te s o f s t o c k t o
M r. C a m p b e ll, he w ill issue r e c e ip ts th e r e fo r : t h a t w h e n a ll th e s t o c k Is su r­
r e n d e r e d M r. M orse w ill m a k e a p r o p o s it io n t o p u rch a s e su ch s t o c k , w h ic h
w ill b e s u b m it te d t o th e s to c k h o ld e r s fo r th e ir a c t io n .
I f th e o ffe r b e sa tis­
fa c t o r y , p a y m e n t w ill b e m a d e fo r t h e shares d e p o s it e d , b u t If n o t a c c e p t e d ,
t h e y w ill b e re tu r n e d t o t h e s to c k h o ld e r s . T h e c e rtifica te s are t o b e se n t in
o n o r b e fo r e M a y 1 5 , a n d all ce r tific a te s n o t p u r c h a s e d t o b e re tu r n e d t o
th e o w n ers o n o r b e fo r e Ju n e 3.

Of the stock ($250,000 at last accounts), over two-thirds>
it is understood, is already owned by Mr. Morse and asso­
ciates.— V. 82, p. 220.
Clyde Steamship Co.— Amalgamation— Circular.— See Con­
solidated Steamship Lines.— V. 83, p. 1231.
Columbus Citizens’ Telephone Co.— Increase of Stock.—
The stockholders on April 24 approved the increase of $500,000 in the preferred stock, also the increase of the board of
directors from nine to eleven. D. C. Beggs and J. H. Mohler
were elected to fill the new positions. Compare V. 84, p . 751.
Consolidated Steamship Lines.— Exchange of Stock—
Official Announcement.— Circulars signed by Calvin Austin,
President of this company, have been sent to the stockholders
of the Mallory Steamship Co. (compare V. 83, p. 1594) and
the Clyde Steamship Co. (see V. 83, p. 1038, 1231), respec­
tively, informing them that “ over a majority” of the $14,000,000 stock of the Mallory company and over $10,000,000
of the $14,000,000 stock of the Clyde Steamship Co. have
been exchanged for stock and bonds of the Consolidated
Steamship Lines, and adding:
T h e sto c k o f (y o u r) c o m p a n y Is c o n v e r tib le in t o s t o c k o f th e C o n s o lid a te d
S team sh ip L in es, share fo r share, an d In a d d itio n t h e r e to 4 % c o lla te ra l
tru st b o n d s o f equ a l p a r v a lu e ( i . e ., ea ch $ 1 0 ,0 0 0 s t o c k is e x c h a n g e a b le
fo r $ 1 0 ,0 0 0 new s to c k an d $10 ,0 0 0 n ew b o n d s .— E d .) .
I f y o u w ill p r o m p t ly
send y o u r c ertifica te s t o N . H . C a m p b e ll, T re a su re r, R o o m 902 , N o . 43
E x ch a n g e P la c e , N ew Y o r k C ity , e n d o rse d in b la n k an d w itn e s s e d , he w ill
sen d v o u In e x c h a n g e th e r e fo r th e s t o c k a n d b o n d s o f t h e C o n s o lid a te d
S tea m sh ip L ines u n d e r th is arra n g e m e n t.

An offer on the same basis, it is understood, will shortly
be made to the minority shareholders of the Eastern Steam­
ship Co. (total stock, $3,000,000.— V. 83, p. 1232), and the
Metropolitan Steamship Co. (total stock, $3,000,000.— V. 82,
p. 990), and probably before the end of the year to the
stockholders of the Ward Line, the New York & Cuba Mail
SS. Co.— total stock, $20,000,000.— V. 84, p. 394), and
the New York & Porto Rico Steamship Co. (total stock,
$8,000,000.— V. 84, p. 452, 871). If the entire stock of all
the foregoing companies should be acquired, as aforesaid, the
new company would have to issue $62,000,000 stock and
$62,000,000 collateral trust 4s. Most of the constituent
companies have outstanding bond issues of their own. The
Hudson Navigation Co. (which see above) is not likely, it is
said, to be included. See V. 84, p. 870, 393, 61.
De Long Hook & Eye Co., Philadelphia.— Re-incorporation.— The shareholders of this West Virginia corporation
vote May 2 on re-incorporating under the laws of Pennsyl­
vania.— V. 71, p. 238.
Electric Co. of America, Philadelphia.— Report.— This
company, whose security holdings were recently sold to the
American Gas & Electric Co. (controlled by the Electric
Bond & Share Co.), reports as follows:
C a l.
In com e from Other
Ch arges, D iv id en d s
B a la n ce,
Total,
Y ear.
S ecu rities In terest.
& c.
P a id .
S u rp lu s.
S u rp lu s.
$11 ,4 5 5
$12 1,51 1
$ 2 9 9,78 1
$ 1 7 1,67 4
$ 1 ,0 9 9 ,3 2 2
1 9 0 6 .......... $581,511
190 5
534 ,474
4,7 0 6
98,2 5 9
285 ,5 3 6
1 55 ,385
9 2 7 ,6 4 8
T h e sp ecia l m e e tin g t o de cre a se t h e c a p ita l s to c k has been a d jo u r n e d
u n til Ju n e 5 .— V . 8 3 , p . 1593.

Ingersoll-Rand Co.— Listed.— The New York Stock Ex­
change has listed $225,000 additional 6% cumulative pre­
ferred stock, making the total amount listed $4,725,000,
and has authorized $75,000 additional to be added from time
to time prior to Nov. 1 1907, making the total amount au
thorized to be listed $4,800,000. Compare V. 84, p. 806,511.
International Mercantile Marine Co.— Listed.— The New
York Stock Exchange has listed the company’s securities and
has authorized additional amounts to be listed as issued and
sold from time to time prior to Nov. 1 1907, as follows:
N a m e o f S e c u r ity —
L isted .
Issu a b le.
T otal.
M o r t. an d c o ll. tr . 4s o f 1 9 2 2 _______ $ 5 2 ,7 4 4 ,0 0 0 $ 2 2 ,2 5 6 ,0 0 0
$ 7 5 ,0 0 0 ,0 0 0
6 % c u m . p r e f. s t o c k tru st c t f s ______ 5 1 ,7 3 1 ,0 0 0
8 ,2 6 9 ,0 0 0
6 0 ,0 0 0 ,0 0 0
1 0 ,0 6 7 ,2 0 0
5 9 ,9 8 9 ,0 0 0
C o m m o n s to c k tru st ce r tific a te s ___ 4 9 ,9 2 1 ,8 0 0
I n t . N a v ig a t io n 1st s. f. 5s 1 9 2 9 . . . 1 9 ,6 1 8 ,0 0 0 1 03 ,000
1 9 ,7 2 1 ,0 0 0

Report.— See a preceding page.— V. 84, p. 934, 341.
Kansas Breweries.— Receivers.— The Supreme Court at
Topeka, Kansas, April 25 appointed Judge S. H. Allen,
G. H. Whitcomb and Judge T. F. Garver as receivers for
the property in Kansas of nine foreign brewing companies,
(six of which hail from Kansas City, Mo., concerns and three
are Milwaukee companies) upon the petition of the AttorneyGeneral, who recently obtained an order from the Court re­
straining these companies from doing business in Kansas.
The companies propose to fight the proceedings to the court
of last resort.
Keystone Telephone Co. of Philadelphia.— Sale of Notes.—
The Philadelphia “ Financial Bulletin” of April 17 said:
B loren & C o . h a v e s o ld p r a c t ic a lly a ll o f th e $20 0 ,0 0 0 K e y s to n e T e le p h o n e
3 -y e a r 6 % g o ld n o te s r e c e n t ly o ffe r e d b y th e m a t 98 a n d In terest, y ie ld in g
6 M %• T h e a u th o r iz e d issu e Is $ 6 0 0 ,0 0 0 . C o m p a re V . 84, p . 87 0 , 218.

Kilbourne-Jacobs Manufacturing Co., Columbus, Ohio.—
Increase in Dividends.— This company on April 16 paid a
dividend of 2J^% on its $1,250,000 common stock for the
purpose of placing the issue on an 8 % annual basis, the
January dividend having been only 13^>%; it is proposed to
pay 2% quarterly in July and October. A year ago the com­
mon shareholders received a 100% stock dividend, since
which time they have had until now 1 ^ % quarterly in cash.
There is also $625,000 6% preferred stock outstanding.
Compare V. 82, p. 1272.
■“ Mallory Steamship Co.— Amalgamation— Circular.— See
Consolidated Steamship Lines above.— V. 83, p. 1594.
Maryland Telephone & Telegraph Co.— Deposit of Bonds.—
See Baltimore Electric Power Co. above.— V. 82, p. 283.
Massillon (O.) Iron & Steel Co.— New Stock.— This com­
pany, which was incorporated under the laws of Ohio in
March 1900 and in February 1904 increased its capital stock
from $150,000 to $500,000, on Feb. 18 1907 filed a certificate
of increase of the authorized issue from $500,000 to $2,000,000. The company manufactures cast-iron pipe and fittings.
H. A. Croxton is President and Treasurer.
Merchants’ & Miners’ Transportation Co., Baltimore.—
Deposits.— Practically all of the capital stock has been de­
posited under the terms of the circular in V. 84, p. 752, 629.
Mexican Light & Power Co.— Earnings.— For 3 months
ending March 31:
3 m o s.—
G ross.
O p e r.E x p .
1907 ................ ............$ 1 ,1 5 0 ,3 1 2
$46 3,51 9
1906
846 ,892
4 3 8 ,4 6 8
— V . 84, p . 691.

N et.
$ 6 8 6,79 2
408 424

Ch arges.
$ 4 5 0 ,0 0 0
2 8 4 ,3 5 2

B a l.,s u r .
$23 6 ,7 9 2
124 ,072

Monongahela Water Co., Pittsburgh.—Explanation of
Dividend Omission.— A statement has been sent to the
stockholders explaining the failure to pay the regular quar­
terly dividend of 2% on the $2,600,000 capital stock, the
rate of 8% per annum having previously been maintained
for many years and the entire dividend record covering, it is
said, a quarter of a century. The statement says:
T h is a c tio n w as ta k en p a r tly b eca u se o f th e v e r y h e a v y ex p e n se b e in g
Incu rred b y y o u r c o m p a n y in co n n e c tio n w ith th e a p p ra isem en t p roce e d in g s
n o w p e n d in g fo r th e p u rch a se o f th is c o m p a n y ’ s p r o p e r ty b y th e c it y o f
P itts b u rg h , an d p a rtly b eca u se o f th e large re d u ctio n In w a te r rents m a d e
b y th e c it y in 190 6, w h ich re d u ctio n w a s fo llo w e d b y y o u r c o m p a n y u n d er
p ro te s t: said r e d u c tio n n o w c o n s titu tin g o n e o f y o u r c o m p a n y ’s cla im s
a g a in st th e c it y u n d er said p r o c e e d in g s .— V . 8 4 , p. 935.

Montgomery (Ala.) Light and Water Power Co.— Bonds.—
Cramp, Mitchell & Shober of Philadelphia recently received
Gorham Manufacturing Co.— See Silversmiths Co. below. subscriptions for a limited number of the first consolidated
— V. 84, p. 573, 341.
mortgage 5s at 82^ and accrued interest. The bonds were
'*• Gottlieb-Bauernschmidt-Straus Brewing Co., Baltimore.— all subscribed and are now quoted at 85 and accrued interest,
Interest on Income Bonds.— The directors on April 23 declared at which price Eglinton, Hammond & Andrews of this city
the usual semi-annual interest payment of 13 ^ % on the have been offering a small block. Compare Y. 84, p. 871.
Nipissing Mines Co.— Stock Reduced.— The stockholders on
second mortgage income bonds, payable on and after May 1
1906 on presentation of coupons No. 5 at the office of Mer­ April 22 voted to reduce the authorized stock from $12,000,cantile Trust & Deposit Co., Baltimore. The same amount 000 to $6,000,000, the amount now outstanding.
Report.— Results of operations of the Nipissing Mines Co.,
was paid semi-annually from 1904 to 1906, both inclusive.
the operating company, and of the holding company, for
Compare V. 84, p. 162, 510, 628.
Grand Rapids (Mich.) Edison Co.— Stock Decreased.— The the 11 months ending April 1, were:
M ining C o .,L im .—
| Nipissing M ines Co.—
stockholders voted on April 15 to decrease the authorized OreNipissing
p ro d u ctio n .................... ...... $1,053,2991Dividends on Mining C o., Llm .,
stock from $1,200,000 to $325,000, to consist of $200,000 Interest on bank balances____
8 ,2 3 2 1 stock (July 11 1906 to March
---------------- 1 25 1907).....................................$1,000,000
common stock (par of shares, $100), and $125,000 of 5%
636
T otal incom e....... ................. .$1,061,531 llnterest on bank deposits..........
cumulative preferred stock (par, $20). Of the stock there Cost
o f mining and all other
1
---------------expenses ..................................
195,4361 T otal.......................................... $1,000,636
is outstanding $602,500 common and $39,750 preferred.—
---------------- 1Deduct: Dividends (1 6 % ) on
V. 80, p. 1114.
N et profit.................................. $866,0951 stock ($6,000,000) July 20
624,6281 1906 to March 25 1907 ..........
960,000
Greene-Cananea Copper Co.— Time for Deposits Extended Surplus May I 1906..................... ---------------! Expenses of adm inistration___
25,059
to June 1.— The time for making deposits of Greene Consoli­
Total .......................................$1,490,7231
---------------dated Copper and Cananea Central shares for the new stock Dividends (paid to Mines C o ). . 1,000,0001 Surplus April 1 1907_______ $15,577
of the Greene-Cananea Co., the holding company, has been
N et surplus on hand_______ $490,7231— V. 84, p. 807, 752.
extended up to noon of June 1.— V. 84, p. 870, 806.
Ocean Park (Cal.) Water Co.— Bonds.— The “ Los Angeles
Hudson Navigation Co.— Acquisition.— See Citizens’ Times” in December last announced the authorization o an
Steamboat Co. above.— V. p. 84, 823, 162.
issue of $100,000 40-year bonds.




1000

THE CHRONICLE.

Old Colony Coal & Coke Co., Pittsburgh, Pa.— Sale.—
This company’s property, real, personal and mixed, is ad­
vertised to be sold at trustee’s sale (subject to the lien of
mortgage of June 30 1905 to the Mortgage Banking Co.,
trustee, $250,000) at the office of trustee J. W . Hanly,
302 Keystone Bank Building, Pittsburgh, on April 29. The
‘ ‘ Pittsburgh Gazette” of March 6 had the following:
A m e e tin g o f th e s to ck h o ld e rs w as h eld y e s te r d a y , at w h ich a c o m m it t e
o f fiv e w as a p p o in te d t o arran ge fo r th e u n d e rw ritin g o f a b o n d issu e o f
b etw een $ 3 0 0,00 0 an d $ 4 0 0 ,0 0 0 . T h e c o m m itte e In clu d es W . J. W a r d ,
T reasu rer: A . H . S ch ew e, Jam es W . M elv ille, S am uel G arrison a n d V ic e P resid en t W . G . C r on k w rig h t, th e la tte r b e in g C h a irm a n .
(A m o n g th e
assets are 135 ,607 shares o f $10 e a ch o f th e G len E a s to n C oal & C o k e C o .
— f id . “ C h ro n ic le .” )

Pocahontas Collieries Co.— Consolidation.— See Pocahon­
tas Consolidated Co. below.— V. 82, p. 1273.
Pocahontas Consolidated Co.— Consolidation.— This com­
pany, having previously acquired (V. 82, p. 1273) all except
$26,000 of the $3,000,000 of common stock of the Pocahontas
Collieries Co., which has also outstanding $1,500,000 6%
cumulative preferred stock and $1,250,000 first mortgage
5% bonds, has arranged, under plan of April 151907, to merge
that company on the follow ng basis:
(a) $ 1 ,5 0 0 ,0 0 0 o f n e w first m o r tg a g e 5 % b o n d s w ill b e e x c h a n g e d fo r an
eq u a l a m o u n t o f th e p re fe rre d s t o c k o f th e P o c a h o n ta s C ollieries C o ., said
s t o c k t o b e c a n c e le d .
(b) $ 1 ,2 5 0 ,0 0 0 o f said b o n d s t o b e set a sid e t o b e e x c h a n g e d fo r an e q u a l
a m o u n t o f th e p resen t b o n d s o f th e P o c a h o n ta s C ollieries C o ., ( V . 8 0 , p . 22 j .)
(c) $ 3 ,2 5 0 ,0 0 0 o f said b o n d s w ill re m a in in th e tr e a s u r y , s u b je c t t o u n ­
r e stric te d sale o r use in th e fu tu r e fo r th e p u rp o s e o f p a y in g th e p re se n t in­
d e b te d n e ss o f th e P o c a h o n ta s C ollieries C o ., fo r d e v e lo p m e n ts o r im p r o v e ­
m e n ts , a n d th e e x te n s io n o f th e bu sin ess.
(rf) T h e m o r tg a g e o f th e c o n s o lid a te d c o m p a n y w ill p e r m it o f a to ta l Is m e
o f $ 2 0 ,0 0 0 ,0 0 0 o f b o n d s , b u t a n y in cre a se a b o v e th e $ 6 ,0 0 0 ,0 0 0 p re s e n tly
t o b e Issued m a y o n ly b e issu ed fo r n e w p r o p e r t y a c q u ir e d , a n d t o th e e x te n t
o f o n ly 70 % o f th e c o s t o f s u ch n e w p r o p e r t y , a n d th is m o r tg a g e shall be
a first lien th ereon .
(e) T h e c o n s o lid a te d c o m p a n y shall h a v e th e o p t io n o f se llin g a n y p o r tio n
o f th e b o n d s a u th o r iz e d u n d e r said m o r tg a g e fo r th e p u r p o s e o f re tirin g all
Its p re fe rr e d s t o c k a t n o t e x c e e d in g 1 5 % p r e m iu m a n d a c c r u e d in te re s t,
b u t th e fa c e v a lu e o f th e b o n d s so issu e d sh all n o t e x c e e d th e a m o u n t p a id
f o r p referred s to c k u p o n su ch re tire m e n t.
(f) T h e p resen t $ 2 ,8 0 0 ,0 0 0 o f p re fe rre d s to c k o f th e P o c a h o n ta s C o n so li­
d a t e d C o. (6 % c u m u la tiv e , w ith a sin k in g fu n d o f n o t less th an 3 c e n ts n o r
m o r e th a n 5 cen ts p e r to n o f c o a l m in e d ) sh all b e d e liv e re d u p a n d ca n c e le d
a n d an eq u a l a m o u n t o f p re fe rre d s t o c k d e liv e re d In lieu t h e r e o f. T h e n e w
p referred s t o c k sh all be 6 % c u m u la tiv e , w ith a s in k in g fu n d o f a m in im u m
of 1
c e n ts a n d a m a x im u m o f 3 c e n ts par to n o n all c o a l m in e d a ft e r J u ly
1 191 0, th e m in im u m t o be n o t less th a n $ 40 ,000 p e r a n n u m , a n d t o b e used
fo r th e r e tirem en t o f th e p re fe rre d s to c k at p rice s d e e m e d re a so n a b le b y th e
b o a r d o f d ir e cto r s : o r , If th is is im p o s sib le , t o b e In v e s te d in th e b o n d s u n til
th e p r eferred s t o c k m a y b e re tire d u p o n fa ir te rm s.
(g) T h e p resen t $ 4 ,5 1 3 ,7 0 0 c o m m o n s t o c k o f th e P o c a h o n t a s C o n s o li­
d a t e d C o. shall b e su rren d ered fo r c a n c e lla tio n , a n d a lik e a m o u n t o f th e
c o m m o n s t o c k o f th e m e rg e d o r c o n s o lid a te d C o m p a n y d e liv e re d in lieu
t h e r e o f, a n d s u ch c o m m o n s to c k shall b e e n title d t o all su rp lu s ea rn in gs a fte r
p r o v id in g fo r d iv id e n d s a n d s in k in g fu n d o n th e p r e fe rre d s t o c k .
A s s e n tin g s t o c k o f th e P o c a h o n ta s C o n s o lid a te d C o . m u s t b e d e p o s ite d
w ith th e B a n k o f B r a m w e ll, B ra m w e ll, M ercer C o u n t y , W . V a .

Bonds, Etc.— See Pocahontas Consolidated Collieries Co.
below.— V. 83, 1102, 272.
Pocahontas Consolidated Collieries Co.— Consolidation
Plan.— See Pocahontas Consolidated Co. above.
Bonds.— Kean, Van Cortlandt & Co., 30 Pine St., New
York City, it is understood, will offer for sale, in case the
merger plan goes through, a block of the present issue of
$6,000,000 new first mortgage 5% gold bonds of the “ Poca­
hontas Consolidated Collieries C o.,” the merger company.
These bonds will be dated July 1 1907 and be due July 1
1957, but subject to call at 105; interest payable January and
July. Denominations $1,000 and "convenient fractions.”
Sinking fund o f 3J^ cents per ton of coal mined, beginning
July 1 1910, to retire a minimum of $100,000 bonds annually.
AB STRACT OF LETTER FROM PR ES. CH ARLES S. THORNE, D A TE D
N E W Y O R K . A P R I L 10 1907.
C a p ita liza tion o f P ocah on ta s C on solidated C o llie r ies C o ., to be In co rp o ra ted in
V ir g in ia or W est V ir g in ia .
N ow Issu able.
Total A u th o r.
$ 2 0 ,0 0 0 ,0 0 0
B o n d s (see p r e c e d in g p la n .— E d . ) _______________ $ 6 ,0 0 0 ,0 0 0
P referred s to c k (see p r e c e d in g p la n .— E d ) ____
2 ,8 0 0 ,0 0 0
2 ,8 0 0 ,0 0 0
C o m m o n s t o c k ____________________________________
4 ,5 1 3 ,7 0 0
5 ,0 0 0 ,0 0 0
C om bined A v era g e A n n u a l E a rn in g s, e t c ., o f C on stituent C o m p a n ies fo r
fo u r yea rs ending D e c . 31 1906.
C oal o u t p u t (n et t o n s ) _______________________________________________
2 ,0 2 7 ,0 1 0
A v e r a n n u al e a r n in g s ____ $1 ,1 3 9 ,6 4 9 S in k , fu n d s and in te re st
R o y a lt ie s and t a x e s _______
212,031
on b d s . (C ollieries C o . ) ___ $11 6,86 4
A v e r a g e n e t e a rn in g s ___ $ 9 2 7,61 8 A v a ila b le fo r d iv id e n d s ____ $ 8 1 0,75 4
C om p a n ies and P ro p e r tie s to B e M erg ed in P ocah on ta s C on solidated C o il's C o .
(1) T h e P o c a h o n ta s C o n s o lid a te d C o . w a s in c o r p o r a te d M a y 20 1904 and
has o u ts ta n d in g , fu lly p a id , $ 2 ,8 0 0 ,0 0 0 6 % c u m u la tiv e p re fe rre d an d $4,51 3 ,7 0 0 c o m m o n s t o c k .
U p o n th e c o m m o n s to c k d iv id e n d s o f 2 % w ere
p a id p r io r t o M arch 31 190 5, 8 % fo r y e a r e n d in g M arch 31 1906 an d d iv i­
d e n d s o f 6 % p e r a n n u m fo r th e y e a r e n d in g A p ril 1 190 7. A b s o r b e d th e
N o r fo lk , A n g le , L ic k B r a n ch , D e lta , S h a m o k ln , R o lfe , S a g a m o re , C asw ell
C reek an d C h erok ee collie rie s (th e last A p ril 1 1 9 0 5 ). T h e to ta l leases held
rep resen t a b o u t 9,6 2 5 a cres o f c o a l la n d s an d 1,500 acres o f barren la n d ,
w h ic h is fu lly d e v e lo p e d b y th e n in e p la n ts lo ca te d o n th is t e r r ito r y .
T h ere
h a v e been e r e c te d 1,920 c o k e o v e n s .
T h e r e m a in in g c o a l in th e N o . 3
P o c a h o n ta s v ein u n m in e d In th is a cre a g e is e s tim a te d a t 7 4 ,0 0 0 ,0 0 0 to n s .
In th e sp rin g o f 1906 in crea sed its c o m m o n s to c k fro m $ 2 ,6 4 0 ,0 0 0 t o p re s ­
en t a m o u n t an d p u rch a se d $ 2 ,9 7 4 ,0 0 0 o f th e $ 3 ,0 0 0 ,0 0 0 c o m m o n s to c k o f
th e P o c a h o n ta s C ollieries C o ., ch a rte re d In M arch 1880.
(2) P o c a h o n ta s C ollieries C o . T h e to t a l leases h e ld a n d c o a l lan ds
o w n e d rep resen t a b o u t 1 0 ,3 7 5 acres o f c o a l, o n ly p a r t ly d e v e lo p e d , th e o n ly
p la n t In o p r e a tio n b e in g t h a t lo c a te d a t P o c a h o n ta s , V a ., w h ic h is, h o w ­
e v e r , th e la rgest in th e P o e a h a n ta s r e g io n .
T h ere h a v e be e n e re cte d 800
c o k e o v e n s . T h e c o a l In th e N o . 3 P o c a h o n ta s v e in u n m ln e d in th is a c r e ­
age is e s tim a te d a t 1 0 6 ,0 0 0 ,0 0 0 t o n s . T h e u n d e v e lo p e d te r rito r y e x te n d s
a b o u t 10 m iles w estw a rd fro m P o c a h o n ta s , V a ., a lo n g L a u rel C reek, o f
B lu e s to o e R iv e r . T h e N o r fo lk & W e ste rn R y . C o . Is n o w b u ild in g th e
P o c a h o n t a s & W es tern R R . , t o d e v e lo p th is p r o p e r t y , an d b y J u ly 1 1907
a b o u t 4 m iles o f th is ro a d s h o u ld b e c o m p le te d t o th e n ew B o isse v a ln p la n t,
w h ich th e C ollieries C o . has a b o u t c o m p le t e d .
It Is p r o p o s e d t o Install
a lo n g th is b ra n ch ro a d at least th ree a d d itio n a l c o a l-m in in g p la n ts.
R ecap itu lation o f P ro p erties to B e Owned by Consolidated C o m p a n y .
Coal
B a rren
R em a in in g
N o . of
T o be acquired from —
A cre a g e . A cr e a g e .
T on nage.
O vens.
P o c a h o n ta s C o n s o lid a te d C o _______ 9,6 2 5
1,5 0 0
7 4 ,0 0 0 ,0 0 0
1,920
P o c a h o n t a s C ollieries C o ___________ 10,375
625
1 0 6 ,0 0 0 ,0 0 0
800
T o ta l ................................ .....................20 ,0 0 0
2,1 2 5
1 8 0 ,0 0 0 ,0 0 0
2 ,7 2 0
T h e p la n ts are all situ a te d in th e P o c a h o n ta s G rea t F la t -T o p c o a l re gio n
in V irg in ia and W e s t V irg in ia , on th e N o rfo lk & W e ste rn R y . , u p o n lands
held u n d er leases fo r 100 y e a rs, o r w ith p riv ile g e o f ren ew als on p resen t




[V o l . l x x x i v .

te rm s fo r 100 y e a rs, s u b je c t t o a r o y a lt y o f 1 0 c . p e r to n o n all coa l m in e d *
T h ese p la n ts are a 1!
an d fitte d t o h a n d le a to n n a g e g r e a tiy in e x c e s s
o f th e average o f th e p ast fo u r y e a rs .
T o rinanee tn e
e a i .c « d y m a d e b y th e C olll3ries C o. fo r t h e
in sta lla tio n o f th e B oissev a in p la n t, and t o p r o v id e f j r tn e c o n s tr u c tio n o f
th e a d d itio n a l p la n ts , it is p r o p o s e d th a t th e n ew c o m p a n y shall c r e a t e a
m o r tg a g e , u n d e r w h ich th ere w ill Im m e d ia te ly be Issued $ 6 ,0 0 0 ,0 0 0 o f 5 %
g o ld b o n d s , v iz ., $ 1 ,5 0 0 ,0 0 0 , t o b e e x ca h n g 3 d f o r $ 1 ,5 0 0 ,0 0 0 ^ p r e fe r r e d
s to c k o f P o c a h o n ta s C ollieries C o .' S 1 ,2 5 0 ,0 jJ t o be e x c h a n g e a b le f o r th e
presen t b o n d s o f th e P o c a h o n ta s C ollieries C o ., an d $ 3 ,2 5 0 ,0 0 0 t o be is s u a ­
ble fo r th e p u rp o s e o f p a y in g th e p resen t in d e b te d n e s s o f th e P o c a h o n t a s
C ollieries C o ., fo r d e v e lo p m e n ts o r Im p ro v e m e n ts , and fo r th e e x te n s io n o f
th e business o f th e n e w c o n s o lid a te d c o m p a n y .
(S ee fu r th e r fa c ts In p la n
u n d e r P o c a h o n ta s C o n s o lid a te d C o . a b o v e .)

Procter & Gamble Co., Cincinnati.— New President.—
William Cooper Procter has been elected President to succeed
his father, the late William A. Procter. John Burchenall
is now General Manager.— V. 83, p. 895.
Republic Iron & Steel Co.— Description of New Plant at
Youngstown, Ohio.— See illustrated article in “ Iron Trade
Review” of Cleveland for April 18.
Earnings.— A statement of earnings is given in the Chicago
“ Inter-Ocean” of April 17 and April 20 as follows, but efforts
to get it officially have been unavailing:
T h e R e p u b lic Iro n & Steel C o .’ s ea rn in g s fo r M arch w e r e $ 5 0 9 ,6 2 8 .
A ft e r all d e d u ctio n s fo r in te re st, & c .. th ere re m a in e d a su rp lu s fo r M a rch
o f $ 41 5,21 3.
F o r n ine m o n th s en d ed M arch 31 th e su rp lu s a p p lic a b le
t o d iv id e n d s w as $ 2 ,8 1 6 ,7 9 1 .
O u t o f th is w as p aid th r e e d iv id e n d s o f
$765,633 ea ch , b e in g 1 % % reg u lar o n th e p re fe rre d s t o c k a n d 2 % on a c ­
c o u n t o f th e a c c u m u la te d d iv id e n d s , a to t a l o f 5 M % r e g u la r an d 6 % a c ­
cu m u la te d , a m o u n tin g in all t o $ 2 ,2 9 6 ,9 0 1 . an d le a v in g a s u r p lu s o f $ 5 1 9 ,890 fo r th e three q u a rte rly p e rio d s .
A n o fficia l e stim a te o f earnings fo r t h e c u r r e n t fiscal y e a r e n d in g J u n e 30
1907 Indicates th at th e c o m p a n y w ill h a ve sh o w n b y t h a t t im e , a t t h e 1e a st
ca lcu la tio n , $ 4 ,1 6 7 ,0 0 0 a p p lic a b le fo r d iv id e n d s on th e p r e fe rre d s t o c k .—
V . 84, p . 342 .

Seattle (Wash.) Lighting Co.— Bonds Offered— Status.—N. W. Harris & Co., New York and Boston, and the Harris
Trust & Savings Bank, Chicago, are offering at 9 7 and
interest $250,000 first mortgage 5% gold bonds of $1,000
each (c*), dated March 21 1904 and due March 1 1944, but
redeemable on and after March 1 1910 at 110 and interest.
Interest payable March 1 and Sept. 1 at office of N. W .
Harris & Co., N. Y . Manhattan Trust Co., N. Y , trustee.
A b stract o f Letter from R u fu s C . D a w e s , 2d V ic e -P r es id e n t, A p r . 1 1 90 7.
T h is c o m p a n y , a c o n s o lid a tio n o f th e S e a ttle G as & E le c t r ic C o . (th e s u c ­
cessor o f th e S eattle G as & E le ctric L ig h t C o .) w ith t h e C itize n s ’ L ig h t &
P oorer C o ., d o e s th e en tire gas business o f S e a t t le , W a s h ., an d Its s u b u r b ,
B a lla rd , th u s se rv in g an e s tim a te d p o p u la t io n o f o v e r 2 0 0 ,0 0 0 .
F in a n cia l Statem ent.
C apital s to c k issued (p re fe rre d , $ 1 ,0 0 0 ,0 0 0 ; c o m m o n $ 3 ,0 0 0 ,0 0 0 ) . $ 4 ,0 0 0 , 0 0 0
F irst m o rtg a g e 5s, In clu d in g $42 2 ,0 0 0 b o n d s r e c e n t ly is s u e d ______$ 1 ,3 9 3 ,0 0 0
R e s e rv e d t o retire a lik e a m o u n t o f S eattle G as & E le c t r ic L ig h t
first 6s d u e J u ly 1 1 9 1 2 _____________________________________________
7 2 9 ,0 0 0
In e scro w t o b e issued fo r 80 % o f th e cash c o s t o f p e r m a n e n t e x ­
ten sion s and a d d it io n s ______________________________________________
8 7 8 ,0 0 0
T o ta l b o n d s a u th o rize d b y m o r tg a g e ____________________________ $ 3 ,0 0 0 ,0 0 0
E a rn in g s fo r the Y e a r ended F eb . 28 190 7.
G ross e a rn in g s........ ...................$ 4 3 2 ,0 9 7 1B o n d in te re st fo r p e r io d ___ $ 9 2 ,5 1 7
N e t o v e r t a x e s ______________ 2 1 1 ,5 4 9 1Su rplus_______________________ 1 1 9 ,0 3 2
[F o r th e y e a r e n d in g N o v . 30 1906 th e gross e a rn in g s w e re r e p o r te d as
$395,441 an d th e n e t earn in gs (o v e r ta x e s) as $ 1 9 2 ,3 9 2 .— E d .]
T h e s ta te m e n t fo r 1907 w ill be m u c h m o r e fa v o r a b le , o w in g t o th e ra p id
in crea se In th e p o p u la tio n o f S e a t t le , an d th e e x te n s iv e im p r o v e m e n ts
a n d a d d itio n s r e c e n tly m a d e t o th e c o m p a n y 8 p ro p e r tie s , fro m w h ic h
p r a c t ic a lly n o e a rn in g s h a v e as y e t be e n d e r iv e d .
T h e first m o r tg a g e 5 % g o ld b o n d s are. In o p in io n o f co u n s e l, secu red b y
a first lie n o n all p r o p e r t y , fra n ch is e s , & c ., o f th e S eattle L ig h tin g C o ., s u b ­
je c t o n ly t o $ 7 2 9 ,0 0 0 b o n d s o n t h a t p a rt o f th e p r o p e r ty fo rm e rly o w n e d
b y th e S eattle G as & K le ctric C o ., w h ic h b o n d s w ill be re tired o n o r b e fo r e
J u ly 1 1912. T h e $87 8 ,0 0 0 e s cro w b o n d s ca n o n ly b e Issued t o re im b u rse
th e c o m p a n y fo r 80 % o f th e cash c o s t o f p e rm a n e n t e x te n s io n s and a d d ition s ,,
and th e n o n ly p r o v id e d th e n e t earn in gs fo r th e p r e c e d in g c a le n d a r y e a r
shall h a v e been e qu a l t o tw ic e th e b o n d In te re st. T h e c o m p a n y r e c e n tly
so ld a tr a c t o f real esta te in th e ce n tre o f S eattle fo r a p p r o x im a t e ly $ 1 ,0 0 0 ,000 , an d th is m o n e y has been d e p o s ite d w ith th e m o r tg a g e tru stees, t o b e
e x p e n d e d fo r p e rm a n e n t b e tte r m e n ts an d I m p r o v e m e n ts , o n a c c o u n t o f
w h ic h n o b o n d s w ill be Issu e d . T h e p r o p e r t y is th o r o u g h ly m o d e m , an d
t o m e e t Its g ro w in g bu sin ess th e c o m p a n y is c o n s tr u c tin g a new w a te r an d
co a l-g a s p la n t w ith a g e n e r a tin g c a p a c it y o f o v e r 2 ,0 0 0 ,0 0 0 c u b ic feet o f
gas p e r d a y . T h is p la n t w ill b e r e a d y fo r o p e r a tio n In M ay, and w ill c o s t
a p p r o x im a t e ly $ 6 0 0 ,0 0 0 . T h e c o m p a n y has 222 m iles o f m ain s, an d a t
least 20 m iles o f a d d itio n a l m ains w ill be laid d u rin g th e p re se n t y ea r.
The
fra n ch ise In S eattle Is s a tis fa c to r y a n d , In o p in io n o f c o u n s e l, u n lim ite d In
t im e . T h e fra n ch ise In B allard runs fo r fift y y e a rs fro m A u g . 1901.
A s sh ow n b y th e C ensus o f 1900, th e p o p u la t io n o f S e a ttle , W a s h ., was8 0 ,6 7 1 .
It Is b e lie v e d t h a t th e p re se n t p o p u la t io n , In clu d in g B a lla r d ,
w h ich w ill p r o b a b ly so o n be a n n e x e d , is 2 0 0 ,0 0 0 . T h e re are few c it ie s
tn a t h a v e m o re n a tu ra l a d v a n ta g e s o r b r ig h te r p r o s p e c ts th a n th e c it y o f
S e a ttle .
C o m p a re V . 7 9 , p . 156.

Silversmiths Co. of New York.— Merger.— On April 20 a
certificate was filed at Albany merging under this title, with
$14,000,000 of authorized capital stock, the following com­
panies, which are allied to the Gorham Manufacturing Co.,
namely, Silversmiths Co. of New York and the Silverware
Stocks Co. of New York.
E d w a rd H o lb r o o k , w h o Is h ead o f th e G o rh a m C o m p a n y , Is P re s id e n t o f
th e c o n s o lid a te d c o m p a n y . J o h n S. H o lb r o o k an d H e rb e rt J. W ells are
a m o n g th e d ir e cto r s . C o m p a re V . 84. p . 577 — V . 82, p . 104 5.

Silverware Stocks Co. of New York.— Merger.— See Silver­
smiths Co. above.— V. 84, p. 577, 342.
T h e c o m p a n y it is s t a t e d , o w n s e x te n s iv e c e m e n t r o c k qu a rries a b o u t
4 m iles fro m R iv e r s id e an d p r o p o s e s t o bu ild a c e m e n t p la n t w ith a d a lly
c a p a c it y o f 4 ,5 0 0 barrels at a n ew t o w n -s lte t o be k n o w n as C rescen t C it y .
T h e sam e in terests h a v e in c o rp o ra te d th e C rescen t C ity S t. R y .w i t h $10 0,00 0ca p ita l s t o c k .
O a k la n d c a p ita lis ts are in te re s te d .
T h e I n c o r p o r a to r s o f
b o t h c o m p a n ie s are: G eorge W . R e e d , P . C . B la c k , C. N . R e e d , B . H .
G riffin an d C . T . W a lk e r , all o f L o s A n g e le s .

Streets Western Stable Car Line.— Report.— The results
for the year ending Dec. 31 were:
Y ea r—
N et.
Ch arges.
P r e f. d iv.
C o m . div.
B a l.,s u r .
$81 ,102
(7 % )$ 5 4 ,3 8 3
(2 % )$ 7 6 ,6 9 4
$ 9 3 ,2 1 0
1 9 0 6 ___________ $30 5 ,3 9 0
1 9 0 5 .................... 320,701
89,193
( 7 % ) 54,383
(2 % ) 7 6 ,6 9 4
100,431
T h e b a la n ce sheet o f D e c . 31 1906 sh o w s: C o m m o n s t o c k , $ 3 ,8 3 4 ,7 0 0 ;
p re fe rre d s t o c k , $77 6 ,9 0 0 ; first m o rtg a g e b o n d s , $79,251 (d ecrea se $ 4 8 ,0 0 0
d u rin g y e a r ); ca r lease w rra n ts, $ 1 ,6 9 3 ,3 3 7 (d ecrea se $ 7 9 ,2 5 1 ); bills p a y a b le .
$ 7 0 ,0 0 0 ; to t a l surplus D e c. 31 1906, $ 1 ,2 5 7 ,6 4 4 . again st $ 1 ,1 6 4 ,4 3 4 D e c . 31
1905 — (V . 82, p . 991 .)

Union Oil Co. of California.— Dividend Increase.— The
“ Los Angeles Times” of April 20 says that the company will
increase its monthly dividends beginning May 20 from
75 cents to $1 per share, or from 9% to 12% yearly. The
rate was increased in Feb. 1905 from 2.7% per annum

A p r . 27 L907.

THE CHRONICLE.

(2 2 ^ c. per share monthly) to 6% (50c. monthly) and in
April 1906 to 9% per annum, or 75c. monthly. The Union
Provident Co. and the United Petroleum, both holding
companies for the Union, have increased their payments
from 75c. to $1 and from $1 38 to $1 48 a month, respectively.
— V. 83, p. 91.
Union Sand & Material Co., St. Louis.— New Stock, &c.—
A certificate filed on April 15 by this Missouri corporation,
increasing the capital stock from $1,050,000 to $3,000,000,
“ all full paid,” it is stated, shows assets, $5,320,033; liabili­
ties, $1,684,857.
A b o u t 9 8 % o f t h e s t o c k o f th e S t. L . P o r t . C em en t C o . , i t is sta te d , w as
d e p o s ite d u n d er th e re ce n t olTer, o n ly o n e s to c k h o ld e r fa ilin g t o c o m e in
w ith in th e tim e set. T h e U n io n C o ., it is r e p o r te d , also ta k e s o v e r th e
M em p h is San d & G ra vel C o . o f M em ph is, T e n n ., in th e sam e d e a l, p a y in g
$ 30 0 ,0 0 0 fo r its assets, and has b o u g h t th e p r o p e r t y o f th e o ld S t. L o u is
B la st F u rn a ce C o ., on th e riv e r fro n t a t th e f o o t o f M alt S t ., in C a ro n d e le t.
T h e M em ph is p r o p e r t y is in th e e x tr e m e n o r th en d o f S t. L o u is a n d la tte r
In th e sou th e n d .
C om p a re S t. L o u is P o r tla n d C em en t C o ., In V . 8 4 , p . 275 .

1001

a te d c o m p a n ie s , fo re ig n an d d o m e s t ic , w a s a b o v e 5 % o n th e a g g r e g a te
b o o k v a lu e o f all s u ch se cu ritie s.
T h e m a n a g e m e n t o f th e se severa l c o m
p a n le s h a v e be e n b r o u g h t t o a h igh e ffic ie n c y , w ith th e resu lt th a t th e b u s i­
ness o f ea ch has sh o w n a larg e g r o w t h .— V . 8 4 , p . 225 .

Wagner Electric Manufacturing Co.— Increase of Stock.—
The stockholders will vote on June 12 on a proposition to
increase the stock from $800,000 to $1,200,000.— V. 83, p.
1475.
Westinghouse, Church, Kerr & Co. of Canada (L td.),
Montreal.— Incorporated in Canada.— This company was in­
corporated on April 18 under the Canadian Companies Act
with $2,500,000 capital stock in shares of $100 each. The
incorporators are:
Peers D a v id s o n , A d v o c a te ; A r n o ld W a in w r ig h t, A d v o c a t e ; A l e x a n d e r
B lssett. A ssistan t M anager; Charles F ran cis L a rk in , s te n o g r a p h e r , a n d
O slas C ou sin ea u . s tu d e n t, all o f M o n tre a l.

— A. M. Kidder & Co., bankers, of 18 Wall St., are issu­
ing a special circular describing bonds which they offer in­
United Copper Co.— Details of Net Earnings.— At a recent vestors at attractive prices. These securities return the pur­
hearing in the case of Thomas M. Hodgens against President chaser from 4 ^ % to 53/2% >and include: Nassau Electric Ry.
Heinze, the latter furnished the following particulars re­ (Brooklyn Rapid Transit), Missouri Kansas & Texas R R .
(St. Louis Division), the Railroad Securities Co. (Illinois
garding the divisions of net income for the year 1906, thus Central
R R .), Georgia & Alabama R y. (Seaboard Air Line),
supplementing the statement already published in the
Grande Southern R R . (Denver & Rio Grande system),
“ Chronicle” (V. 84, p. 448), and also the same particulars Rio
Fort Worth & Rio Grande R y. (St. Louis & San Francisco
since the company’s organization on April 28 1902:
system), Central R R . & Banking Co. of Georgia and the Chi­
C a l. Y e a r
S in ce
cago Rock Island & Pacific R y. Co. The list also comprises
R eceip ts—
1906.
O rganization.
In terest on b o n d s ____________________________________
$49 ,5 0 0
$ 8 1 4,50 0
a selection of guaranteed stocks exempt from tax.
D iv id e n d o n secu rities h e ld ________________ _________ 2 ,3 9 5 ,9 7 0
5 ,9 3 1 ,5 6 5
P r o fits on secu rities held and c o n t r a c ts ____________ 2 ,5 0 4 ,0 0 0
3 ,3 5 4 ,7 7 0
— The Philadelphia banking house of Julius Christensen
In terest on lo a n s _____________________________________
2 2 4 ,8 1 6
4 6 6 ,0 9 3
& Co., in the Drexel Building, is distributing a written and
pictorial review of the Illinois Traction system. The de­
T o t a l ................................ ......... ............................... .............. $ 5 ,1 7 4 ,2 8 6
$1 0 ,5 6 6 ,9 2 8
E x p e n s e s _____________________________________________
3 33 ,515
398 ,997
scription includes all the roads comprised in this great interurban railway, their routes and connections, and much valua­
N et in c o m e ............................................................................ $4,8 4 0 ,7 7 1
$10 ,1 6 7 ,9 3 1
ble information of public interest relating to the cities and
T h e “ p ro fits o n secu rities held an d c o n tr a c ts ” in 1906, $ 2 ,5 0 4 ,0 0 0 , in ­
clu d e d , it is sta te d , $ 1 ,7 0 0 ,0 0 0 o n a c c o u n t o f th e v a ria tio n o f th e m a rk et
towns in the territory covered by the system. There are
v a lu e o f secu rities h e ld .— V . 8 4 , p . 7 5 5 , 57 7 .
many half-tones of the public buildings and the industries of
Westinghouse Electric & Manufacturing Co.—Offering to that section, and also portraits of each road’s officials. The
Stockholders of $5,000,000 of New “ Assenting” Stock.— A book is bound in pasteboard covers and is elaborately gotten
circular dated April 25 1907 offers to stockholders of record u ). Investors interested in the Illinois Traction property
as of 12 m. May 4 the opportunity of subscribing, on the should write for a copy.
company’s warrants, until 3 p. m. June 3 for $5,000,000
— The corporation of the Berkeley School, 72d St. and
new stock, entitled to the same rights and priorities as the West End. A v., New York, announces that it has engaged’
existing" assenting” stock, at $75 per share (par $50), to Dr. Adolph W . Callisen as permanent Head Master, and has
the extent of one share for every five shares of existing stock acquired and will take over the well-known Callisen School,
of any class held by them respectively.
of which Dr. Callisen was for many years the head and where
S u b scrip tio n s m u st b e m a d e at th e N ew Y o r k o ffic e o f th e c o m p a n y , 111
hundreds of boys have been prepared for college and business
B r o a d w a y , a cco m p a n ie d b y N ew Y o r k , B o s to n o r P ittsb u rg h ex ch a n g e
life. From this date Dr. Callisen will spend several hours
fo r $10 fo r each share su b scrib e d fo r .
T h e b a la n ce w ill be p a y a b le In like
m a n n er d u rin g 1907 as fo llo w s : J u ly 1, $10 p er share: A u g . 1, $10; S e p t. 3,
daily at the school to meet all who call and to make full
$10; O ct. 1, $10; N o v . 1, $ 1 0 ; D e c. 2 , $ 1 5 .
F u ll p a y m e n t m a y b e m a d e
preparation for the new term. The school-year will open
a t th e tim e o f su b scrip tio n o r a n y u n p a id b a la n ce m a y b e p a id on a n y in ­
s ta llm en t d a te
In terest a t 5 % p e r a n n u m w ill b e allow ed on all p a y m e n ts
on Sept. 30. William H. Brown is President of the corpora­
from th e d a te m a d e u p t o th e tim e th e s to ck b eg in s t o ca rry d iv id e n d s .
tion.
D is co u n t w ill also be a llow ed on in sta llm en ts a n tic ip a te d .
S to ck p a id fo r
in fu ll Ju n e 3 carries th e d iv id e n d p a y a b le J u ly 10 1907 a n d su b seq u en t
— The old established banking house of George Leask &
d iv id e n d s ; th a t fu lly p a id fo r on J u ly 1. A u g . 1 o r S e p t. 3 w ill receiv e th e
O c t. 10 d iv id e n d an d th a t p a id fo r O c t. 1. N o v . 1 o r D e c. 2 th e J a n . 10 1908
Co. will move on May 1 to new offices on the sixth floor of
d iv id e n d .
F or th e co n v e n ie n ce o f sh areh olders w arra n ts fo r fra ctio n a l
the Trust Company of America Building, 37 Wall Street.
shares w ill b e p u rch a sed o r sold at cu rren t m a rk et p rices at th e N ew Y o r k
This firm, founded by George Leask and Julian W . Robbins
o ffic e o f th e c o m p a n y .
Official Circular.— President George Westinghouse, under twenty-five years ago, leaves its old quarters on the ground
floor of the Mills Building at 35 Wall Street on its 25th anni­
date of April 25, says:
versary. The concern’s high standing as large dealers in
A t a sp e cia l m e e tin g o f th e s to ck h o ld e rs h eld on M arch 26 1906, $ 2 5 ,0 0 0 ,000 n ew a ssen tin g s to c k w as c r e a te d , m a k in g th e to ta l a u th o riz e d share
commercial paper, stocks, bonds and other securities is
c a p ita l $ 5 0 ,0 0 0 ,0 0 0 .
O f th is n ew s t o c k , $ 1 2 ,5 0 0 ,0 0 0 w as set a side fo r th e
well known in this city. Mr. Leask’s son, Edwin M. Leask,
c o n v e r s io n o f b o n d s (V . 8 2 , p . 7 5 5 , 222) a n d th e rem a in in g $ 1 2 ,5 0 0 ,0 0 0 w as
re se rv e d fo r o th e r co r p o r a te p u rp o se s.
T h ere is e n clo se d an offe r t o th e
represents the house on the New York Stock Exchange.
s to c k h o ld e r s to su b scrib e fo r $ 5 ,0 0 0 ,0 0 0 o f th e a ssen tin g s to c k a t $75 p er
— The Boston banking house of Hornblower & Weeks has
s h a re, a p rice w ith in th e lim its o f th e p ro v is io n s o f th e b o n d in d e n tu re ,
th e sale o f w h ich w ill p r o v id e a d d itio n a l w o rk in g c a p ita l as req u ired .
completed arrangements to occupy new quarters in a build­
T h e busin ess o f y o u r c o m p a n y d u rin g th e p a st y e a r la rg ely e x c e e d e d th a t
ing to be erected on the site of the old Howe Building, 60
o f a n y p r e c e d in g tw e lv e m o n th s , an d co n tin u e s to In crease. T h e ord ers
e n te re d d u rin g M arch 1907 b y th e E a st P itts b u rg h w o rk s w ere $ 4 ,0 0 6 ,3 4 8
State Street, which the National Shawmut Bank will shortly
a n d b y th e su b sid ia ry m a n u fa ctu rin g co m p a n ie s w ere $ 3 7 9 ,2 2 9 .
vacate. The proposed structure has been leased by the
O rders R eceived by the E a st Pittsbu rg h W o rk s and the S u bsid ia ry C om p a n ies
firm for thirty-five years; it will be six stories in height and
fo r F iv e Y ea rs E n d in g M a rch 31.
1 9 0 2 -0 3 .
190 3 -0 4 .
19 0 4 -0 5 .
1 90 5-0 6.
1 90 6-0 7.
will be especially adapted to the firm’s requirements.
$ 2 1 ,9 1 6 ,1 7 7
$ 2 0 ,8 2 2 ,0 1 0
$ 1 8 ,8 1 1 ,7 9 0
$ 2 8 ,1 5 4 ,6 6 4
$ 3 8 ,3 1 7 ,9 1 8
— Edward Ridgely, formerly a National Bank Examiner
V a lu e o f u n filled ord ers M arch 31 1 9 0 7 ............. ...................................... $1 4 ,6 1 6 ,4 4 2
T h is g rea t Increase In y o u r bu sin ess, c o u p le d w ith h igh er c o s t s o f la b o r
of New York Citj7, has become associated with Warwick,
a n d m a te ria l, has n e c e s s ita te d a larg e Increase in w o rk in g c a p it a l. A t th e
Mitchell & Co., chartered accountants, at 79 Wall Street.
sa m e tim e th e a m o u n t in v e s te d in c u r r e n t a c c o u n t s w ith c u s to m e rs fo r
a p p a r a tu s d e liv e re d o r in p ro ce s s o f e r e c tio n has be e n c o r re s p o n d in g ly in ­
Mr. Ridgely is a brother of William B. Ridgely, U. S. Comp­
crea sed .
troller of the Currency, and will manage the firm’s auditing
V a lu e o f W ork in g A s s e ts F e b . 28 190 7, as C om pa red w ith N o v . 30 1905
( V . 8 2 . p . 216.)
department.
I n c . S in ce
— On May 1 Stone & Webster, the well-known street rail­
W . E . A M . C o . a n d S u b s id 'v M f g .C o ’s —
F e b . 28 1907. N o v . 30 ’0 5 .
R a w m a teria ls a n d s u p p lie s ______________________$ 4 ,9 1 6 ,1 5 0
$ 2 ,1 6 2 ,1 3 2
way house of Boston, will open a Chicago branch office in
W o r k In p r o g r e s s ............. ................................................
7 ,3 5 5 ,5 3 3
4 ,0 5 3 ,2 5 8
suite 604 First National Bank Building. Arthur J. Veitch'
F in ish e d p a rts a n d co m p le te d a p p a ra tu s _______
4 ,3 7 8 ,0 3 9
3 87 ,274
G o o d s o n c o n s ig n m e n t fo r re -sa le , & c __________
1 ,3 9 8 ,5 3 0
368 ,852
for some time connected with the bond department of Pea­
A c c o u n t s a n d bills r e c e iv a b le ............. ........................ 1 1 ,4 3 1 ,0 7 6
3 ,7 7 6 ,5 0 0
body, Houghteling & Co., will be their Chicago representa­
T o ta l “ w o rk in g a ssets” .............................. .............. $ 2 9 ,4 7 9 ,3 2 8
$ 1 0 ,7 4 8 ,0 1 6
tive.
C on solidated I n c o m e , etc.. A c c o u n t fo r 11 M o n th s E n d ed F e b . 28 190 7.
— We have recehred a copy of the 1907 edition of “ Wash­
D ed u ctio n s—
G ross earn s, (sh ip m e n ts
ington Securities,” a compilation of financial statistics of
b i l l e d ) .................................$ 3 0 ,6 5 9 ,5 7 9 In te re st o n fu n d e d d e b t $77 6,24 2
* O p e r a tin g e x p e n s e s —
2 6 ,2 0 6 ,4 4 5 In te re st an d d is c o u n t ___
728 .488
securities dealt in on the Washington Stock Exchange. The
T a x o n c a p . s t o c k , p re m s.
book also contains a record by months, since Jan. 1 1901, of
N e t e a r n in g s .............—
$ 4 ,4 5 3 ,1 3 4
o n d e b s , r e tir e d , c o m ­
m issio n s, & c ___________
O ther In c o m e —
5 7 ,730
sales made at the Exchange, with the lowest and highest
In te r e s t an d d is c o u n t —
$ 3 7 1,08 5 D e p r e c ’n o f p r o p . & p la n t,
prices.
I n t . & d lv . on s e c u r ’s o w ’d
4 4 5 ,1 4 6
e q u ip ., a c c ’ ts & bills
r e c ., s u n d ry s to c k s a n d
R o y a lt ie s , & c ____________
484 ,2 2 4
— Charles Schley
Co., investment brokers, of Milwaukee,
b o n d s , & c ______________
6 07 ,352
Wis., announce their removal to the New Insurance Build­
T o t a l n e t in c o m e ______$ 5 ,7 5 3 ,5 8 8
T o t a l d e d u c t io n s ______$ 2 ,1 6 9 ,8 1 2
ing, 90' Michigan Street. The partnership consists of
S u rp lu s fo r p e r io d ____________________________________________________ $ 3 ,5 8 3 ,7 7 6
Charles Schley and Ralph M. Friend.
'
D iv id e n d s (fo r 11 m o n th s a t rate o f 1 0 % p er a n n u m )__________
2 ,2 9 1 ,2 7 2
— Schmidt & Gallatin, 111 Broadway, members of the
N e t a d d itio n t o surplus fo r th e eleven m o n th s _________________ $ 1 ,2 9 2 ,5 0 4
New York Stock Exchange, announce with regret that,
*
C ost o f s h ip m e n ts , in c lu d in g fa c to r y c o s t s , se llin g , a d m in is tra tio n an d
owing to ill-health, Mr. Eads E. Schmidt will withdraw from
gen era l.
their firm on May 1st.
T h e se r esu lts, e x c e lle n t as th e y are , h a v e be e n a d v e r s e ly a ffe c te d b y th e
e x t r a c o s t o f d e v e lo p m e n t o f m a n u fa c tu r in g fa c ilitie s In cid e n t t o a r a p id ly
— The bond department of the Royal Trust Company Bank
In crea sin g p r o d u c t io n .
W ith th e In creased fa cilitie s a lr e a d y p r o v id e d ,
of Chicago has recently issued for gratuitous distribution a
an d th o s e n ea rin g c o m p le t io n , th e p r o d u c t io n fo r ,t h e fiscal y e a r b e g in n in g
A p ril 1 1907 s h ou ld g r e a tly e x c e e d th a t fo r th e p a s t y e a r .
booklet 011 “ Bonds as Investments; What They Are and
T h e In com e o f y o u r c o m p a n y d u r in g th e p a st y e a r fro m in te re s t, d i v i ­
Their Advantages.”
d e n d s a n d earn in gs on Its In v e s tm e n ts . In clu d in g th o s e r e c e iv e d fro m a f fi l i ­



THE CHRONICLE.

1002

2 *h c

C o m

m

Friday Night, April 26 1907.
General business is still on a large scale, though there are
some indications of a decrease in transactions here and there.
The situation, however, remains substantially as it had been
for a long period, with the demand for most commodities
good and prices firm. The monetary situation has recently
become much more favorable and the weather more seasona­
ble.
LARD on the spot has been easy in tone but changes in
quotations have been slight. Trade has continued dull.
Offerings from packers have been rather liberal. Small
jobbing sales have been made of late at 8J^ @ 8% c. for city
and at 8.75@8.80c. for Western. Refined lard has been
steady, with trade stagnant. Refined Continent 9.20c.,
South America 10c. and Brazil in kegs 11c. The market for
lard futures at the West has been less active. Prices have
been irregular but the fluctuations from day to day have not
been very marked. In the main, however, the undertone
has been rather easy, owing to the dulness of the cash trade.
The receipts of live hogs, too, have been liberal.
D A I L 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.
Tries.
W ed .
T h u rs.
F r i.
M a y d e liv e r y ____________ 8.62J3
8 .6 5
8 .7 0
8.5 5
8 .5 5
8 .6 7 ^
J u ly d e liv e r y ____________ 8.75
8 .7 7 K
8 . 8 2 )4
8 .7 0
8 .7 0
8.8 2 3^
S e p te m b e r d e l i v e r y ------- 8 .9 0
8 .9 0
8.9 5
8.82J4
8 .8 2 ]4
8.95

PORK on the spot has ruled steady, with trade dull and
limited to small jobbing lots. Mess $17 50@$18 25, clear
$17 75@$19 and family $19@$19 50. Cut meats have been
steady. Trade has been quiet but stocks are light. Pickled
shoulders 93^@10c., pickled hams 1 2 @ 1 2 ^ c . and pickled
bellies, 14@10 lbs., 1 0 3 4 @ llc. Tallow has declined, ow­
ing to the dulness of trade and increasing stocks. City 5% c.
Stearines have been dull and easy. Oleo 9@9J^c. and lard
9% c. Butter has advanced, owing to cold and stormy
weather, which has interfered with the movement to market.
The demand has been light at the advance. Creamery, ex­
tras, 34J^@35c. Cheese has been moderately active and
firm; State factory, fancy, 15c. Eggs have been less active
and easier; Western firsts 17c.
COFFEE on the spot has been dull and steady. Rio No. 7,
6 % c., and Santos No. 4, 7 ^ c . West India growths have
been quiet and steady; fair to good Cucuta 8% @ 9>^c. The
market for future contracts has been irregular, within mod­
erate limits. Early in the week the tendency was downward,
owing to unexpectedly weak cables from Europe, continued
dulness in the spot trade, liberal receipts, foreign selling and
liquidation by tired local longs. Of late, however, the tone
has been steadier, owing to buying by prominent local in­
terests and covering of shorts.’
The following are closing quotations:
|A u g u s t ____________ 5 .4 5 c . |D e c e m b e r ________ 5 .4 5 c .
I S e p t e m b e r ------------- 5 .4 5 c . |J a n u a r y ___________ 5 .4 5 c .
O c t o b e r ___________ 5 .4 5 c . |F e b r u a r y _________ 5 .4 5 c .
( N o v e m b e r _______ 5 .4 5 c .| M a r c h ____________ 5 .5 0 c .

SUGAR.— Raw has been quiet, with slight changes in
prices. Centrifugal, 96-degrees test, 3.73c.; muscovado,
89-degrees test, 3.23c., and molasses, 89-degrees test, 3.01c.
Refined has been in moderate demand and steady. Granu­
lated 4.70@4.80c. Teas have been quiet and steady. Spices
have been firm and in light jobbing request. Hops have
been quiet and steady.
O IL.— Cottonseed has been firm, with an increased de­
mand, partly for export. Prime summer yellow 47c. and
prime winter yellow 52c. Linseed has been firm, owing to
an increased demand and the strength of the market for seed.
City, raw, American seed, 42@ 43c.; boiled 43@ 44c.; raw,
Calcutta seed, 70c. Lard has been easy, owing to the dul­
ness of trade and increasing stocks. Prime 74@76c. and
No. 1 extra 58@60c. Olive has been quiet and steady;
yellow 80@90c. and green 70@75c. Cocoanut has been in
moderate demand and firm; Cochin 10%c. and Ceylon 9 % @
9J^c. Peanut has been quiet and steady; yellow 50@60c.
Cod has been moderately active and steady; domestic 38 @
40c. and Newfoundland 40@42c.
PETROLEUM.— Refined has been active and strong.
Higher prices are expected by some in the near future, owing
to the increasing consumption. Refined, barrels 8.20c.,
bulk 4.75c. and cases 10.65c. Naphtha has been moderately
active and firm; 73@76 degrees 18c. in 100-gallon drums.
Gasoline has been active and firm; 86 degrees 21c. in 100-gal­
lon drums. Spirits of turpentine has been quiet and easier
at 69@70c. Rosin has been in moderate demand and firm;
common to good strained $4 65.
TOBACCO.— The demand for Sumatra has been less active
but prices have been firm in the main. Havana has been
quiet but strong. Crop reports from Cuba of late have been
conflicting. Trade in domestic leaf has continued quiet and
there has been an absence of noteworthy developments
in the market. The demand is less active than usual at this
time of the year.
COPPER has been firm and more active. Lake 24
25c., electrolytic 243^@24J^c. Lead has been quiet and
easy at 6c. Spelter has been quiet and steady at 6.65@
6.70c. Tin has been quiet but strong; Straits 42% c. Iron
has been active and firm; No. 1 Northern $23 20@$24 70,
No. 2 Southern $22 75@$24.




lx x x iv .

COTTON.

e r c ia l

C OMM ERCIAL EP ITO M E .

A p r i l ____________ 5 .6 0 c .
M a y ______________5 .6 0 c .
J u n e ______________5 .5 0 c .
J u l y _______ I _____ 5 .5 0 c .

[Vol .

Friday Night, April 26 1907.
TH E 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
76,608 bales, against 79,481 bales last week and 113,585
bales the previous week, making the total receipts since
the 1st of September 1906, 9,190,155 bales, against 7,042,248
bales for the same period of 1905-06, showing an increase
since Sept. 1 1906 of 2,147,907 bales.
R eceip ts at—

S a t.

3,724
G a lv e s t o n _______
P o r t A r th u r ____
___
C o r p u s C h r is ti, &c
N e w O rle a n s____
3,042
M o b ile __________
58
____
P e n s a c o l a _______
___
J a c k s o n v ille , & c.
Savannah . .
2,230
B r u n s w i c k ______
C h a r le s t o n ___ 11
____
G e o r g e t o w n ____
W i l m i n g t o n ____
110
N o r f o l k __________
824
____
N ew port N .f & c.
N e w Y o r k _______
81
____
B o s t o n ___________
____
B a lt i m o r e _______
P h ila d e lp h ia ____ ____ 48
T o t a ls th is w e e k .

10,128

M on.

T u es.

W ed.

S.627
____

5,318
____

F r i.

T h urs.

3,400

1,644

4,3 9 0
421
____

8,0 3 6
107

3,056
34

3,120
278
____

1,186

1,569
....

2,249

1,133

’ ~20

~‘ l 9

T o ta l.

6,286

25,9 9 9

6,824
2,481
133

6,824
24,125
1,031

____
"2 5 0

'9 2 7
27

8,367
927
328
485
4,2 6 9
1,062
1,546
675
581
389
7 6 ,608

58
631
____
480
4
_
58

123
661
____
863
353
___
43

58
792
....

""4 5
474
____

~ "46

"~75

88

89

91
887
1,062
122
197
581
63

12,796

17.383

9,7 4 3

6,877

19,681

The following shows the week’s total receipts, the tota
since Sept. 1 1906, and the stocks to-night, compared with
last year:
190 6-0 7.
R eceip ts to
A p r i l 26.

T h is
w eek.

190 5-0 6.

S in c e S e p
1 1906.

T h is
w eek.

S in c e S ep
1 1905.

G a lv e s t o n .
. . .
P o r t A r t h u r . , ___
C o rp u s C h ris ti,& c.
N e w O r l e a n s ____
M o b ile ____ __ . .
P e n s a c o la . . . _ .
J a c k s o n v ille , &c_
Savannah
____
B r u n s w ic k _______
C h a r le s t o n _______
G e o rg e to w n . .
W ilm in g to n .
N o r f o lk ___________
N e w p o r tN e w s ,& c .
N ew Y o r k ________
B o s to n ________ __
B a lt im o r e ____
P h il a d e l p h i a ____

25,9 9 9 3 ,7 1 0 ,0 8 7
132 ,823
6,824
63,928
24,125 2 ,1 6 2 ,8 6 6
243,871
1,031
131 ,658
6,962
8,367 1,3 9 0 ,6 5 3
927
167,303
328
145 ,068
1,095
485
313 ,806
5 29,787
4,2 6 9
1,062
37,621
20,203
1.846
69,466
675
5 5,5 1 4
581
7,4 4 4
389

24,655 2,3 8 2 ,4 8 9
111,696
297
32,532
22,713 1 ,4 7 6 ,3 3 5
4,496
217,202
917
133,885
666
17,025
15,091 1 ,3 2 5 ,1 9 7
3,792
169,013
594
161,446
46
1 ,168
2,289
293 ,244
7,4 4 6
572,090
398
19,900
230
5,411
381
55.743
687
60,083
164
7,7 6 9

T o t a l ___________

76,6 0 8 9 ,1 9 0 ,1 5 5

84,862 7 ,0 4 2 ,2 4 8

Stock.
1907.

1906.

145,691

117 ,776

160,977
20,610

172 967
2 7 ,603

65,010
7,6 9 0
9,0 5 9

53,281
1,094
1 4,286

3,968
25,211
1,840
167,377
11,951
8,672
3,2 7 2

12.573
33,929
155,493
6,5 9 4
4,2 7 9
3,951

6 3 1 ,3 2 8

6 03 ,826

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
R eceip ts at—

190 7.

1906.

190 5.

| 1904.

190 3.

1902.

G a lv e s to n , & c
N e w O rlean sM obile _______
S a v a n n a h ___
C h a r le s to n , & c
W llm ln g ’n ,& c
N o r f o l k ______
N ’ p o r t N ., &c
A ll o th e r s ____

32 823
2 4,125
1,031
8,367
328
485
4,2 6 9
1,062
4 ,1 1 8

24,952
22,713
4,4 9 6
15.091
640
2,289
7,446
398
6,837

45,506
34,900
5,357
42,154
787
4,402
16,137
2,1 5 4
11,929

9,012
16,866
647
6,479
474
4
3,224
388
3,672

27,611
19,207
1,668
6,547
412
47
4,4 3 9
316
6,952

16,248
23,934
155
6,990
1,829
2,554
3,105
97
3,2 3 0

T o t a l th is w k .

7 6 ,6 0 8

84,862

163,326

40.766

67 ,199

58,142

S in ce S e p t. 1 . 9 ,1 9 0 ,1 5 5 7 ,0 4 2 ,2 4 8 8 ,3 7 7 ,8 0 8 6,867,341 7 ,3 0 4 ,8 6 9 7 ,1 3 1 ,4 4 2

The exports for the week ending this evening reach a total
o f 140,339 bales, of which 63,493 were to Great Britain,
20,723 to France and 56,123 to the rest of the Continent.
Below are the exports for the w-eek and since Sept. 1 1906:
Week ending A p ril 26 1907.
Exported to—
Exports
from—

Great
: ContiBritain. Fr'nce nent.

Total.

From Sept. 1 1906 to A p ril 26 1907.
Exported to—
Great
! ContiBritain. France .j nent.

Total.

G a lv e sto n ____ 29,448:17,406 15,587 62,441 1.664,106 438,584 1.009,632 3.112,322
_____
56,962 ..........
Port Arthur___
75,861 132,823
\
_____
1.547
Corp.Chris.,&c.
--------1
1,547
New O rleans.. 19,169 3.619 30,423 52,611 864,663 261,276 753.702 1.879.641
_____
_____
68.524 28,059
M o b ile _______
55,178 151,761
52,349 140,676
58,985 29,342
100
......... I
100
Fernandina___
IIII
3,624 3,624 146,196 46,208 658,183 850,587
Savannah ____
135,040
7,329
82,821 ......... 1 52.219
Brunswick____
7,329 ____ _____
____
_____
______
_____ i 21,393
21,393
Charleston____
6,000 186,265 307,286
W ilm ington
115,021
4,897
7,264
N orfolk
2,367
694
5.114
N ewport News
4,420 ......... !
288 4,58i 9,639 171,345 37.103 183,601 392,049
4,770
New Y o r k -----_____
17.217 138,299
Boston ---------331 121,082 _ ..T J
331 ____
10 _____
62,181 140,528
2,368
B a ltim o re ____
2.378
72,214 6,133
3.500
_____
____
800
36,293
800
Philadelphia . .
32,793 .........
_____
78 ____
7,456
78
7,456
Portland, M e ..
......... ; 74.903
San Francisco. . . . . .
-----1.108
74,903
1,108
....
_____
......... !
82.028
82,028
Seattle ............ _____
____ _____
_____
..........1 44,168
T acom a ............ _____
44,168
_____
.........
400
____
.....
400
Portland, Ore .
_____
____ i _____
______
_____
4,030
4.030
P e m b in a _____
9.579
D etroit..............
9.579
..........
..........
....... .....................
T o t a l ......... .. 63.493 20,723 56,123 140.339 3.478.534 852,705 3,344,048 7.675,287
Total 1905-06.

60.945 17,647 74,759 153,3512,588,771641,2672,334,512 5,564,550

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.

THE CHRONICLE.

A pr . 27 1907.]
On S h ipboard, N o t Cleared f o r -

A p ril—
Range —
@
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------—
Closing
9.80— 9.83 9.76— 9.78 9.71— 9.73 9.80— 9.82 9.83— 9.85
9.83— 9.88 —
—
—

M ay—

Saturday,
A pril 20.
M on d a y,
A p ril 22.
Tuesday,
A p ril 23.

AprlZ 24.

W ednesday,

Thursday,
A pril 25.

9.86@
9.93
9.88— 9.89

F r id a y ,
April 26.

TFeefc.

9.77 ® 9.91 9.75 @ 9.93
9.88— 9.89 —
—
—

9.85 @ 9.97
9.73 ® 9.97
9.94— 9.95 —
—
—

9.74@
9.88
9.85— 9.86

9.88@
9.95
9.91— 9.92

9.75@
9.78
9.77— 9.78

9.72@
9.88
9.86— 9.87

9.80@
9.85
9.82— 9.83

9.73@
9.77
9.77— 9.78

Range —
@
— —
@
--------------------------------------------------------------------------------------------------------------------------------------------- @
Closing ,.9.80— 9.82 9.74— 9.76 9.72— 9.74 9.81— 9.83 9.85— 9.87 9.88— 9.90 —
—
—

9.79@
9.85
9.79— 9.82

Range f9.81@
9.88
Closing 19.87— 9.88

Jun e—

9.83@
9.89
9.87— 9.88

we

th e
add

to ta l th e
th e

ite m

and

to

c o m p le te

of

con se­

T h u rsd ay

fig u r e s f o r

e x p o rts

—

fro m

th e

U n ite d S ta te s , in c lu d in g in it th e e x p o r ts o f F r id a y o n ly .
A p r i l 26—
1907.
1906.
1905.
1904.
819,000
590,000
Stock at L iv e r p o o l .............. b a le s .1,256.000 1,058,000
S tock at L o n d o n ______ _________
9,000 11,000
12,000
10,000
S tock at M a nchester_____________
93,000 72,000
51,000
57,000
9.67@

----------- @

822,000

459,000

882,000
10,000
339,000
1,000
146,000
3,000
29,000
50,000
4,000

657,000
13,000
320,000
4,000
202,000
3,000
21,000
21,000
5,000

---------- —

@

T otal Continental stocks______

( S > ------------ @

T otal Great Britain s to ck _____ 1,358,000 1,141,000
Stock at H am burg...........................
14,000
10,000
Stock at B re m e n ..............................
427,000
214,000
________
Stock at A n t w e r p _______________ ________
Stock at H a v r e .................................
265,000
173,000
Stock at Marseilles_______________
3,000
4,000
Stock at B a r ce lo n a _____ ________
16,000
8,000
Stock at G enoa........................... ..
7S.000
43,000
Stock at T rie s te ................................
19,p00
7,000
9 .7 8 —

589,000

582,000

@

Total European stock s_________ 2,180,000 1,600,000 1,464,000 1,246,000
India cotton afloat for E urope___ 207,000
151,000
80,000
195,000
A m er. cotton afloat for E u r o p e .. 485,974
340,912
378,000
147,000
E gypt .B razil, & c. ,aflt .for Europe
38,000
34,000
28,000
27,000
Stock In Alexandria, ISgypt.......... 174,000
138,000
202,000
199,000
Stock In B om bay, I n d ia ...............
818,000 1,065,000
793,000
422,000
Stock In U . S. p o r t s ______ ______ 613,328
603,826
681,510
386,551
Stock in U . S. Interior tow ns____
397,553
395,293
489,863
214,639
U . S. exports t o -d a y .......................
13,230
21,855
43,943
53,435
—

—

9. 7@

9.83®

T otal visible su p p ly.....................4,927,085 4,349,886 4,160,316 2,891,625
O f the above, totals o f A m erican and other descriptions are as follow s:
A TtlCTiCdTl

__

736,000
41,000
547,000
378,000
681,510
489,863
43,943
9.84 @ 9.85

929,000
61,000
409,000
340,912
603,826
395,293
21,855

9.85

Liverpool stock .............. .. bales. 1,132,000
Manchester s to c k ________________
75,000
Continental s t o c k ............................
767,000
Am erican afloat for E urope______
485,974
U . S. port stocks .................. ........... 613,328
U . S. interior s to c k s .............. ........
397,553
U . S. exports to-d ay ___________
13,230

9.78

477,000
46,000
528,000
147,000
386,551
214,639
53,435

T otal A m erican________________ 3,484,085 2,760,886 2,907,316 1,852,625
E a st In d ia n , B ra zil, & c .—
L iverpool stock .............. ...................
124,000
129,000
83,000
113,000
London s to ck ....................................
9,000
11,000
12,000
10,000
Manchester stock ________________
18,000
li.OOO
10,000
11,000
Continental s to ck ________________
55,000
50,000
35,000
61,000
India afloat for E urope__________
207,000
151,000
80,000
195,000
E gypt, Brazil, & c., a flo a t .............
38,000
34,000
28,000
27,000
Stock in Alexandria, E g y p t_____
174,000
138,000
202,000
199,000
Stock In B om bay, I n d ia ...............
818,000 1,065,000
793,000
423,000
9.83 © 9.85

941

Range
Closing

2,571

"4 1

J u ly — -

"700

9.83 ® 9.96 9.72 ® 9.96
9.94— 9.95 —
—
—




C on C on­
E x p o rt su m ’ n. tract.

__

9.87(5) 9.91
9.87— 9.88

.................................... .........................

Sales o f S p ot and Con tract.

____ | 500
1,000
871
100
____ 1 3,000

9.72@*9.85
9.83— 9.84

S tea d y............
S tea d y______
S tea d y______
S tead y______
S tea d y______
Stead y______

9.74@
9.77
9.76— 9.78

T o ta l___

S t e a d y ____________
S t e a d y ____________
Quiet, 5 pts. d e c___
Quiet, 10 pts. a d v ..
S teady, 5 pts. a d v ..

9.80@
9.85
9.80— 9.81

S a tu r d a y .M on day___
Tuesday . .
W ednesday
Thursday .
F rid a y ____

F u tu r e s .
M arket
C losed.

m ake

dow n

T otal East India, & c...................1,443,000 1,589,000 1,243,000 1,039,000
T otal A m erican............................. 3,484,085 2,760,886 2,917,316 1,852,625

M A R K E T A N D SA L E S A T N E W Y O R K .

S p ot M a rk et
Closed.

9.85@
9.89
9.88— 9.89

1 2 .8 8

ugust—

- .

^

-.1 0 .7 5
-.1 1 .8 1
..1 1 .6 2
..1 0 .7 5
..1 0 .9 4

9.85 @ 9.96 9.75 ® 9.96
9.93— 9.94 —
—
—

1881_____
1880..........
1879..........
1878_____
1877_____
1876_____

9.89@
9.93
9.89— 9.90

1 8 8 9 .. ..........10.94
1 8 8 8 .. _____ 9.81
1 8 8 7 .. . . . .10.62
1886 . _____ 9.25
1 8 8 5 .. . . . .10.81
1 8 8 4 .. ______11.88

9.76@
9.87
9.85— 9.86

7.50
8.06
6.94
7.50
7.81
7.31

9.75@
9.80
9.80— 9.81

6 .1 2 1 8 9 1 .. - C . . . 8 . 8 8 1 8 8 3 .. . c . .. 1 0 31
6.37 1 8 9 0 .. _____ 11.94 1882_____ .1 2 .2 5

9.83@
9.86
9.82— 9.84

1 8 9 9 .. . c . . .
1898_______
1897_____ __
1896_______
1895..............
1894_______
1893_______
1892_______

B u t to
(F r id a y ),

—

1 9 0 7 .. . c .
1906_____
1 9 0 5 ..
.
1904_____
1903_____
1902_____
1901_____
1900_____

.11 .30
..1 1 .7 5
_. 7.55
..1 3 .7 5
..1 0 .5 0
. . 9.63
. . 8.31
. . 9.81

e v e n in g .
to -n ig h t

F o r e ig n s to c k s ,

w e e k ’s re tu r n s ,

fig u r e s a r e b r o u g h t

— 10.04 @

N E W Y O R K Q U O T A T IO N S FOR 32 Y E A R S .
The quotations for middling upland at New York on
April 2C> for each of the past 32 years have been as follows:

a ll f o r e i g n

a re t h is

@

T hurs.
Fri11.30 11.30

a flo a t ,

----------------------------

W ed.
11.25

-- @

Tues.
11.15

q u e n tly
— 10.23 @10.29

M on.
11.20

---------- @

A p r i l 20 to A p r il 26—
Sat.
Middling u p l a n d .........................11.20

c a b l e a n d t e l e g r a p h , is a s f o l l o w s .

a s w e ll as t h e

— 10.30 @10.41

The official quotation for middling upland cotton in the
New York market each day of the past week has been:

T H E V I S I B L E S U P P L Y O F C O T T O N to -n ig h t, as m a d e

up by
— 10.39 @

Strict low m id .-e. 0.14 o ff1Middling tinged-C- 0.12 off
Fully low mid___ 0.32 oft i Strict low mid.ting 0.46 off
Low middling___ 0.50 o ff; Low mid. tinged-. 0.90 OH
Barely low mid__ 0.70 o ff; Strict g’d ord. ting 1.25 off
Strict good ord__ 0.90 off Fully mid. stained 0.42 off
Fully good ord__ 1.07 off Middling stained. - 0.50 off
Good ordinary___ 1.25 off Barely mid.stained 0.78 off
Strict g’d mid. tgd. 0.30 on Strict low m. stain. 1.50 off
Good mid. tinged. Even IFully 1. m. stained 1.75 off
Strict mid. tinged. 0.06 off I Low mid. stained. 2-00 off

— 10.41@
—

Fair.................... c . 2.00 on
Strict mid. fair__ 1.75 on
Middling fair........ 1.50 on
Barely mid. fa ir.. 1.25 on
Strict good mid__ 1.00 on
Fully good mid__ 0.88 on
Good middling___ 0.76 on
Barely good m id .. 0.57 on
Strict middling__ 0.38 on
Middling ............... Basis

—

Speculation in cotton for future delivery has been a trifle
more active and prices have advanced slightly, owing, in
part, to manipulation of the May option by bullish interests
and partly to some unfavorable crop and weather reports
from the South and an active and stronger market in Liver­
pool. The spot sales there have continued large and reports
are persistent that the demand for the actual cotton at the
South is also excellent for the better grades, the supply of
which is beqoming, it is stated, so reduced that increasing
premiums over the low grades are being paid. It is also
stated that the lower descriptions are in better demand.
Some reports are that unduly cold weather has made a good
deal of replanting necessary in Georgia and Alabama if not
in South Carolina, and that the season from being early at
the start has now become somewhat backward. W est of
the Mississippi the temperatures at times have seemed to
be somewhat too low and some replanting is reported there,
but that portion of the belt has during the week been visited,
on the other hand, by beneficial rains, so that in many parts
of the State, at least, the drought would seem to have been
pretty effectually broken. The receipts at the ports have
bean, on the whole, light, spinners’ takings large and the
exports, as a rule, greatly in excess of the receipts. In a
word, the commercial situation of cotton has continued
strong, mainly because of an unusually large consumption.
Speculation, however, though somewhat larger than re­
cently, has continued to be, in the main, quiet, the outside
public still holding aloof. The Majr option, which was
recently at such a marked discount under July, reached a
premium over that month of 3 points early in the week and
has since sold even with it or two or three points below. The
fact that the price of May has been so well sustained,in the
face of a very general belief that the number of notices to be
issued on Friday would be large, had no small influence in
sustaining and at times advancing the market. Liverpool,
the South, W all Street spot interests and room traders have
all bought more or less, but of late there have been signs of
liquidation, partly, it is supposed, for some of the leading
bulls. Then, too, many who have bought May or July have
sold the distant months, especially since the weather condi­
tions have somewhat improved. To-day a decline of 11
points on May and 4 to 5 on other months was followed by a
rally, when it was found that May “ notices” for some 70,000
to 75,000 bales were being promptly stopped by leading
bulls and others. Liverpool’s quotations were disappoint­
ing, but the spot sales there were large. Furthermore, the
weather at the South was rather cool, including Texas, for
which still lower temperatures were predicted. W all Street
and the South bought here and so did some of the leading
bulls. Spot cotton has been more active and firm. Middling
upland closed at 11.30c., an advance for the week of 10 points.
The rates on and off middling, as established N ov. 21 1906
by the Revision Committee, at which grades other than
middling m ay be delivered on contract, are as follows:

9.84@
9.88
9.89— 9.90

40,016
42,326
56 910

10.04@10.09 10.01@10.06
9.95@10.00
9.96@10.08 10.07@10.12 10.04 @10.14
9.95 @10.14
10.07— 10.08 10.03—
— 10.00— 10.01 10.06— 10.07 10.09— 10.10 10.12— 10.13 —
—
—

23,881
5,356
20,663

—
@
—- —
@
-------------------------------------------------------------------------------------------------- @
— 1 0 .0 4 @
10.11— 10.13 10.07— 10.09 10.04— 10.06 10.08— 10.10 10.12— 10.14 10.15— 10.17 —
—
—

36,727
33,402
69,765

10.15@10.17 10.10@10.13 10.03@10.08 10.04@10.14 10.14@10.20 10.11 @10.22 10.03 @10.22
10.15— 10.16 10.11— 10.12 10.07— 10.08 10.12— 10.13 10.17— 10.18 10.20— 10.21 —
—
—

Total 1 9 0 7 ..
Total 1 9 0 6 ..
Total 1905. .

10.28@10.33 10.25@10.29 10.20@10.24 10.18@10.30 10.29@10.35 10.28 @10.38 10.18 @10.38
10.30— 10.31 10.27— 10.28 10.23— 10.24 10.28— 10.30 10.32— 10.33 10.36— 10.37 —
—
—

478,548
470,513
479,700

2 ,3 0 6

3,000

4,000

Range
Closing
S e p t .—
Range
Closing
O ct .—
Range
Closing
N o v .—
Range
Closing
D e c .—
Range
Closing
J a n .—
Range
Closing

26,227 152,780
24,648 133,313
27,425 201,810

2 ,100

4,365

---------------------------------------------------------------------------------------@
--- @ — 10.30@
— 9.40— 9.42 10.36— 10.38 10.41— 10.43 10.45— 10.47 10.49— 10.51 —

25,929
27,581
27,047

*270

429
3,589
1,200
541
2,200
18,268

@
—

500

134,107
75,360
49,810
8,518
13,610
6,943
160,307
29,893

2 ,400

’ 500

T otal.

26,870
70,331
15,200
541
7,000
18,268
7,070
7,500

3,535
26,292

F e b .—

10,599
12,530

New Orleans. .
G a lv e s to n ____
Savananh ____
Charleston____
M o b ile _______
N orfolk _ ___
New Y o r k ____
Other p orts___

F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
Range —
@
— 1 0 . 2 9 @ ------------------------------------------------------------------------- @
— 1 0 . 2 3 @ --------- @
Closing 10.35— 10.37 10.32— 10.34 10.28— 10.30 10.33— 10.35 10.37— 10.39 10.41— 10.43 —
—
—

5,496
11,120
14,000

L ea vin g
stock.

Range —
C losin g—

6,811
16,800

C oa st­
w ise.

M a rch —-

A p r i l 26 at —

G er­
Other
Great
B ritain . F r a n c e . m a n y . F o r e ig n

1003

Total.

500

*200 1,200
’ 206

971
300
200
741

400

3,912

T otal visible su p p ly.....................4,927,085 4,349,886 4,160,316 2,891,625
Middling U pland, L iverpool_____
6.39d.
6.07d.
4.16d.
7 .7 2 d .
M iddling U pland, New Y o r k ____
11.30c.
11.75c.
7.70c.
1 3.7 5c.
E gy pt, G ood Brown, L iv e r p o o l..
ll% d .
H M d.
7^d.
9d .
Peruvian R ough G ood, Liverpool
10.75d.
8.75d.
lO.OOd.
10.50d.
B roach, Fine, L iverpool_________
o7
A d . 5 ll- 1 6 d .
4V«d.
6% d.
Tinnevelly, G ood, L iverpool-----5>£d.
5 ^ d . 4 3-16d.
6 j£ d .
C o n t in e n t a l im p o r t s p a s t w e e k h a v e b e e n 1 2 1 ,0 0 0 b a le s .
T h e a b o v e fig u r e s f o r 1 9 0 7 s h o w a d e c r e a s e f r o m la s t w e e k
o f 1 4 3 ,4 1 3 b a l e s , a g a i n o f 5 7 7 , 1 9 9 b a l e s o v e r 1 9 0 6 , a n e x ­
cess o f
7 6 6 , 7 6 9 b a l e s o v e r 1 9 0 5 a n d a g a i n o f 2 ,0 3 5 , 4 6 0
b a le s o v e r 1 9 0 4 .

I0<»4

THE CHRONICLE

.

__________________________

E u fau la,
M o n tg o m e ry .
Selm a,
H elena,
Little R o c k ,
A lb a n y ,
A then s,
A tlan ta,
A u gu sta,
C olum bus,
M acon,
R om e.
L ou isville,
S h revep ort,
C olum bus,
G reenville.
G reen w ood.
M eridian,
N atch ez,
|V ic k s b u r g ,
Yazoo City,
ISt. Louis,
R aleigh,
jC in cin n a ti,
jG reen w ood,
jM em phls,
1N ashville,
jBrenharn,
1C larksville,
D allas,
Igoney G rove,
Houston
Paris.

Since
Sept. 1.

Week.

Deduct shipments —
In la n d , &c., fro m S o u t h ,

718 ,041
2 0 4 ,3 2 0
7 4 ,5 6 7
75,1 8 3
49,7 4 5
4 1 2 ,6 6 2

75,259 395 ,2 93
5,164,405
48,053

I

67,143 397,553

I
7,019,897!
45,863

Week.
13,580
2,8 0 8
219
1,7 8 6
1 ,6 5 6
3.6 8 2

1 ,5 3 4 ,5 1 8

23,731

1 ,0 4 8 ,1 4 3

1 52 ,627
8 8.3 9 8
5 1 ,3 1 4

1,462
286
823

1 2 9 ,0 0 6
1 8 ,3 5 6
3 7 ,3 8 8

.................. 8,953

292 ,339

2,571

1 8 4 ,7 5 0

a _ ...........10,007

1 ,2 4 2 ,1 7 9

21 ,160

8 6 3 ,3 9 3

a In c lu d in g m o v e m e n t b y ra il t o C a n a d a .

The foregoing shows the week’s net overland m ovem e^
has been 10,007 bales, against 21,160 bales for the week
last year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of 378,786
bales.
1 9 0 6 -0 7 ----------

R e c e ip ts at p o rts t o A p ril 2 6 _______ 7 6 ,608
N et o v e r la n d t o A p ril 2 6 ___________ 1 0,007
S ou th ern c o n su m p tio n t o A p ril 2 6 , 48,0 0 0

Since
•Sept. 1.
9 ,1 9 0 ,1 5 5
1 ,2 4 2 ,1 7 9
1 .6 1 0 ,0 0 0

T o ta l m a r k e te d ___________________ 134 ,615 1 2 ,0 4 2 ,3 3 4
In te r io r sto c k s in e x c e s s ____________ a 2 1 ,280
301 ,277
C a m e In to sigh t d u r in g w e e k ____ 113 ,3 3 5
........... .......
T o t a l in sight A p r il 2 6 ..................................... 1 2 ,3 4 3 ,6 1 1
N o r t h , sp in n e r s’ ta k in gs t o A p r. 26. 15 979

2 ,3 5 3 ,6 9 4

---------1 9 0 5 -0 6 ----- —

Since

W eek.
S ept. 1.
84 862 7 ,0 4 2 ,2 4 8
2 1 ,1 6 0
8 6 3 ,3 9 3
4 6 ,0 0 0 1 ,5 7 1 ,0 0 0
1 5 2 ,0 2 2

aZ 7 ,2 0 6

9 ,4 7 6 ,6 4 1
2 6 0 ,1 1 6

124 ,816
_______

9 ,7 3 6 ,7 5 7

31,571 2 ,0 4 0 ,8 5 2

a D ecrease d u r in g w e e k .

Movement into sight in previous years:
Week —

Bales. I Since Sept. 1—
Bales.
1905— A p ril 2 8 ......................... , 1 0 7 ,009| 190 4-0 5— A p ril 2 8 ................ 1 1 ,3 0 6 ,4 1 8
1904— A p ril 2 9 . ......................... 7 1 ,9 0 6 1 1 9 0 3 -0 4 — A p ril 2 9 ________ 9,3 7 6 ,0 5 1
19 0 3 — M ay
1 . .................... ._ 1 03 ,568 j 1902-03— M ay
1 ................ 9 ,8 9 5 .9 9 4
19 0 2 — M ay
2 ............................ 73 ,9 8 1 1 1 9 0 1 -0 2 — M a y
2 .............
9 ,6 1 5 ,4 6 8




10yx
10 A
io A
11A
11.20
11A

11%
11
io A
10%
10%
10A

UA

11A
11%
10%
10%
10%
11%
11.25
11%
11.55
11%
10%
10%
11%
10%

11 A
11.15
11 A
11.50

11.40
11%

11%
10%
10%
11%
10%

10%
10H
U A

io y»

11%
11%
10%
10%
10A
11.30

11%
11%
10%
10%
11%
10%

11.55

A t l a n t a ------------------- 1 1 % I M o n t g o m e r y ______ 10 % |R a l e i g h _____________ 11 %
C o lu m b u s , G a ........... 10 A |N a s h v i l l e ................... 1 0 % |S h r e v e p o r t _________ 10 %

NEW ORLEANS OPTION M ARK ET.— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat’day, Monday, Tuesday, Wed' day Thursd’y, Friday,
A p ril 20. A p ril 22. April 23. A p ril 24. A p ril 25. A pril 26.
A p ril—

— @ — — @ — — @ ——

R a n g e _______ — @ —
C lo s in g _______ 1 0 .6 5 .7 0 10.61

May—

— 10.58

— 10 .6 9

@ — _
@
— 10.76 — 10.77

_
—

—@ —

R a n g e _______ 1 0 .3 8 -.4 3 1 0 .3 2 -.3 9 10 .2 7 -.3 1 1 0 .2 6 .-4 0 1 0 .4 1 -.4 6 — @ —
C lo s in g_______ 1 0 .4 1 -.4 2 1 0 .3 3 -.3 4 1 0 .3 0 -.3 1 1 0 .3 6 -.3 7 1 0 .4 2 .4 3 1 0 .4 5 .4 6

& c ______3,191
.............5,2 1 8
..................
544

Week.

11A

10 15-16
10 A

The closing quotations to-day (Friday) at other important
Southern markets were as follows:

December —

..................18,960

In Sight and Spinners’
Takings.

Monday. Tuesday.\ W ed’day. Thursd'y. Friday.

11%
10 15-16 10 15-16
10%
10 A
10%
10H
10%
10A
10%
10 A
11A
11 A
11.20
11.20
11 M
11%
11.45
11.45
11 H
11%
10%
10H
10%
10A
11 %
10%
10%

R a n g e _______ 10 .6 3 -.7 0 1 0 .6 0 -.6 7 1 0 .5 3 .5 7 1 0 .5 3 .7 5 1 0 .7 6 -.8 5 — <3 —
C lc s ln g _______ 1 0 .6 8 -.6 9 1 0 .6 1 -.6 2 1 0 .5 6 -.5 7 10.7 0 -.7 1 1 0 .8 1 -.8 2 1 0 .8 6 -.8 7

--------1 9 0 6 -0 7 -

S t. L o u is .................... ..................... 10,578
C a i r o ................................... .............. 1,846
R o c k I s la n d ............... ................... 1,982
L o u is v i ll e ______________________ 1,027
C in c in n a ti_____________________ 1,048
o th e r rou tes, & c _______________ 2,481

G a lv e sto n ______
N ew O rle a n s___
M o b ile .. . . .
S a v a n n a h ____
C h a r l e s t o n ____
W ilm in g t o n ____
N o rfo lk . . .
B o s to n ________
B a lt i m o r e _____
P h ila d e lp h ia ___
A u g u s t a _______
M em phis _____
S t. L o u i s ______
H o u s t o n _____
L ittle R o c k ____

Closing Quotations for Middling Cotton onSat’ day.

October—

OVERLAND MOVEMENT FOR THE W EEK AND
SINCE SEPT. 1.— We give below a statement showing
the overland movement for the week and since Sept. 1,
as made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
V ia
V ia
V ia
V ia
V ia
V ia

Week ending
A pril 26.

R a n g e _______ 1 0 .7 0 -.7 4 1 0 .6 0 -.6 9 1 0 .5 4 -.5 9 10.53-.75 1 0 .7 2 .7 9
C lo s in g _______ 10.7 0 -.7 1 1 0 .6 2 -.6 3 1 0 .5 8 -.5 9 1 0 .6 9 -.7 0 1 0 .7 6 .7 7 10.76-.77

The above totals show that the interior stocks have de­
creased. during the week 10,007 bales, and are to-night
21,160 bales more than at the same time last year. The
receipts at all the towns have been 378,786 bales less than
the same week last year.

A prll 26—
Shipped — ■

QUOTATIONS FOR MIDDLING COTTON AT OTHER
M ARKETS.— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:

July +—

T o ta l, 33 t o w n s ..............

Alabama
...........
43
21,503 399
644
177
22,793
196
2 995
“
........... ........................
1,360
169,231 1,85812,532 1,109
160,303
3,006 25,362
"
--------135
106,058 265 1,368
271
100,253
754
9,196
201
65,905 914 6,145
156
53,561
492
3,556
A r k a n s a s ...........
“
______
1,742
233,189 4,497 29,647
2,219
111,775
6,278 41,074
Georgia
...........
64
22,968 379 1,309
12
29,160
222
4 235
“
...........
224
105,212 603 7.108
665
83,879
1,061 15,567
........... ........................
375
141,364825 7,905
8
37,794
271
3,826
••
*•
........... ........................
2,516
348,165 3,22124,4241,413
336,770
2,411 35,333
“
........... ........................
134
53,6482,2459,750 198
70,657
602 19,503
“
...........
30
55,293
74
846
229
57,764
937
6,933
...........
457
50.551 172 4,533
260
40.434
295
5,531
“
K e n tu c k y , n e t - .......................
35
7,19560 275
65
6,735
40
100
L o u is i a n a ........... ........................
545
192,0701,1898,751
589
100,953
823 11,659
M is s is s ip p i ......... ........................
130
50,6187405,157
150
35,795
2,711
4 770
"
............
171
64,357 399 2,254
100
41,921
400
1,200
“
....................................
79,947
800 8,000
70
62,760
970
4 200
“
........... ........................
533
94,4034496,928 879
66,821
2,939 17,723
••
........... ................................................
114
73,3181,7463,507283
46,113
414
5.205
.......... ................................................
245
84,5961,07713,554232
69,271
1,365
8,224
“
“
........... ........................
74
55,066227 4,705
119
52,541
427
2,361
M is s o u r i .............
9,651
744,73310,578 38,702
10,553
475,906
13,580 34,441
North C a ro lin a ..
530
17,473
355!
900
139
12,559
350
703
O h io ......................
2,111
129,079 2,08710,891 3,245
135,050
2,633 19 443
South C a rolin a .601
20,275
1,036 1,140
115
15,597
205
5 963
T e n n e s s e e ..........
9,591
882,40114,014 140 911
7,124
760,678
12,066 42'fi88
..........
185|
15 138
75 1,274
539
12,013
620
845
“
T e x a s __________ __________________________
35
16,6091321,58040 9,054
173
865
“
....................................................................
39,02920100
20
12,530
34
170
'• .....................................................................
99,552144300600 80,690
835
2,0 0 0
“
....................................................................
...
33,731257550
18,857
72
550
*• .....................................................................
14,031 2,848,239 16,49741,93816,2241,977,422 17,86438,172
“
........................
98,98141 400
200
65,996
213
900

Towns.

Movement to April 26 1907.Movement to April 27
1906.
— —---------- -------------------------------------------------------------------------------Receipts.
Ship- Stocks Receipts.
Ship- Stocks
----------------------------------------ments.
A p r i l ----------- ments.
April
Week. | Season.
Week.
26.
Week.
Season.
Week.
27,

AT THE IN TE R IO R TOWNS the movement— 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.

[V o l . l x x x i v .

R a n 4 e _______
C lo s in g _______
Jan u ary—
R a n g e ----------C lo s in g _______
Tone —
S p o t _________
O p t i o n s _____

1 0 .4 0 -.4 5 1 1 0 .3 5 -.4 0 1 0 .2 8 -.3 3 10 .2 6 -.4 0 1 0 .4 1 -.4 6 — © —
1 0 .4 2 .4 3 :1 0 .3 4 - .3 5 1 0 .3 1 -.3 2 1 0 .3 6 .3 7 1 0 .4 2 -.4 3 1 0 .4 5 .4 6

—@ —

—@ —

10 .4 6 -.5 1
1 0 .3 5 .3 8 1 0 .3 2 .4 5 — (3 —
1 0.49-.5 1 10 .4 1 -.4 3 1 0 .3 6 .3 7 10 .4 1 -.4 2 1 0 .4 7 -. 48 1 0 .5 1 -.5 2
F irm .
S te a d y .

Q u ie t .
S te a d y .

Q u ie t.
Q u ie t.

S te a d y .
S tea d y .

F irm .
S te a d y .

F irm .
S tea d y .

W E ATH E R REPORTS BY TE L E G R A P H .— Our tele­
graphic advices from the South this evening indicate that
rain has been quite general during the week and that in
some localities, particularly in districts of Louisiana and
Alabama, the precipitation has been excessive. There are
also complaints of too low temperature by some correspon­
dents. As a result of the unfavorable weather, farm work
has, as a rule, made rather slow progress.
Galveston, Texas.— Frost and cold weather have set the crop
back considerably in Texas and some re-planting is reported.
We have had excessive rain on three days during the week ,
the rainfall being three inches and thirty-two hundredths.
The thermometer has averaged 66, ranging from 55 to 77.
Abilene, Texas.— We have had rain on three days during
the week, the rainfall being thirty hundredths of an inch.
The thermometer has ranged from 38 to 88, averaging 63.
Brenham, Texas.— Rain has fallen on four days of the week,
the rainfall being one inch and ninety-eight hundredths.
Average thermometer 64, highest 79, lowest 48.
Corpus Christi, Texas.— It has rained on three days during
the week, the precipitation being seventy-four hundredths
of an inch. The thermometer has averaged 63, the highest
being 74 and the lowest 52.
Cuero, Texas.— There has been rain on four days during
the week, to the extent of one inch and ninety-four hun­
dredths of an inch. The thermometer has averaged 63,
ranging from 46 to 82.
Dallas, Texas.— We have had rain on three days during the
week, the precipitation reaching one inch and five h u n d r e d th s .
The thermometer has ranged from 41 to 81, averaging 61.
Fort Worth, Texas.— We have had rain on two days of the
past week, the rainfall being fifty-three hundredths of an
inch. Average thermometer 61, highest 82 and lowest 40.
Henrietta, Texas.— We have had rain on two days of the
past week, the rainfall reaching five hundredths of an inch.
The thermometer has averaged 66, the highest being 94
and the lowest 37.
Huntsville, Texas.— There has been rain on three days
during the week, to the extent of one inch and eighty-six
hundredths. The thermometer has averaged 62, ranging
from 44 to 79.
Kerrville, Texas.— We have had rain on two days during
the week, the rainfall being forty-three hundredths of an
inch. Thermometer has ranged from 35 to 84, averaging 60.
Lampasas, Texas.— Rain has fallen on two days of the
week, the rafnfall being sixty-eight hundredths of an inch.
Average thermometer 61, highest 85 and lowest 36.
Longview, Texas.— We have had excessive rain on four
days of the week, the rainfall reaching three inches and
twenty-one hundredths. The thermometer has averaged 62,
the highest being 80 and the lowest 43.

THE CHRONICLE.

A p r . 27 1907.]

Luling, Texas.— Rain has fallen on three days of the week,
the precipitation being eighty-eight hundredths of an inch.
The thermometer has averaged 63, ranging from 45 to 81.
Nacogdoches, Texas.— There has been rain on four days
during the week, the rainfall reaching eighty-eight hun­
dredths of an inch. The thermometer has ranged from 39
to 75, averaging 57.
Palestine, Texas.— We have had rain on four days of the
week, the precipitation reaching eighty-two hundredths of
an inch. Average thermometer 67, highest 76, lowest 46.
Paris, Texas.— There has been rain on one day during the
week, the rainfall being eighty hundredths of an inch. The
thermometer has averaged 50, the highest being 59 and the
lowest 40.
San Antonio, Texas.— We have had rain on three days
during the week, the rainfall being one inch and ten hun­
dredths. Thermometer has averaged 64, ranging from 46 to
82.
Weatherjord, Texas.— There has been rain on two days the
past week, the rainfall being forty-nine hundredths of an
inch. The thermometer has ranged from 37 to 84, averaging
61.
New Orleans, Louisiana.— We have had a rainfall of thir­
teen inches and ten hundredths during the week, on five
days. Average thermometer 64.
Shreveport, Louisiana.— It has rained on three days of the
week, the rainfall being two inches and seventy-nine hun­
dredths. The thermometer has averaged 63, the highest
being 81 and the lowest 45.
Leland, Mississippi.— There has been rain during the week,
the rainfall reaching sixty-nine hundredths of an inch.
Thermometer has ranged from 40 to 70, averaging 52.3.
Vicksburg, Mississippi.— Rain has fallen on five days of
the week, the rainfall being eighty-six hundredths of an inch.
Average thermometer 59, highest 75, lowest 47.
Helena, Arkansas.— Weather too cold for farm work much
o f the week and little done. There has been rain on three
days during the week, the precipitation being one inch and
twenty-five hundredths. The thermometer has averaged
55.4, ranging from 43 to 78.
Little Rock, Arkansas.— The weather has been abnormally
cold the past week and there are numerous complaints of
poor stands and damage by cut-worms, necessitating ex­
tensive replanting. Rain has fallen on one day of the week,
the rainfall being one inch and thirty-eight hundredths.
The thermometer has averaged 59.5, ranging from 43 to 76.
Memphis, Tennessee.— Weather more favorable and cotton
planting has made good progress, but the week closes cold
and rainy. There has been rain on one day the past week,
the rainfall being sixteen hundredths of an inch. Average
thermometer 55.6, highest 76.3, and lowest 40.8.
Nashville, Tennessee.— We have had rain on one day of the
past week, the rainfall reaching eight hundredths of an inch.
The thermometer has averaged 59, the highest being 80 and
the lowest 37.
Mobile, Alabama.— Heavy rains and lower temperature
in the interior early part of week. Cotton planting is making
moderate progress. We have had rain here on four days
o f the week, the rainfall reaching eight inches and twentyfour hundredths. The thermometer has averaged 63, rang­
ing from 53 to 73.
Montgomery, Alabama.— Continued heavy rains and gener­
ally unfavorable weather have injured cotton considerably.
Much re-planting will be required and good seed scarce. We
have had rain on five days during the week, the rainfall being
three inches and six hundredths. The thermometer has
ranged from 47 to 78, averaging 60.
Madison, Florida.— We have had rain on two days of the
week, the precipitation reaching two inches and fifty hun­
dredths. The thermometer has averaged 65, the highest
being 80 and the lowest 54.
Savannah, Georgia.— We have had rain on five days during
the week, the rainfall reaching one inch and ten hundredths.
The thermometer has ranged from 50 to 82, averaging 64.
Charleston, South Carolina.— We have had rain on five days
of the past week, the rainfall reaching eighty-six hundredths
of an inch. Average thermometer 62, highest 75, lowest 50.
Greenwood, South Carolina.— Rain has fallen on two days
of the week, the rainfall being two inches and five hundredths.
The thermometer has averaged 57, highest 68, lowest 46.
Charlotte, North Carolina.— We have had rain during the
week, the rainfall reaching one inch and sixty-eight hun­
dredths. Thermometer has ranged from 40 to 75, averaging
57.
The following statement we have also received by tele­
graph, showing the height of rivers at the ponits named
at 8 a. m. of the dates given:
N ew O r l e a n s ___________A b o v e
M e m p h i s _______________ A b o v e
N a s h v i ll e .................... .......A b o v e
S h r e v e p o r t ............... ......... A D o ve
V i c k s b u r g ____ >_..............A b o v e

zero
zero
z e ro
zero
zero

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
gauge.

A p r il 26 1907.
F e e t.
16.0
2 1 .8
1 '.5
3 .8
38.1

AprtZ 27 1906.
F eet.
16.8
29.9
9.9
11.9
47.1

A LE XA N D RIA RECEIPTS AND SHIPMENTS OF
COTTON.— Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we
now receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
o f the previous two years:




1005

A lex a n d ria , E g y p t,
A p r il 24.
R eceipts (ca n ta rs a) —
T h is w e e k ________
S in ce S e p t. 1 ______

E x p o rt (bales) To
To
To
To

L i v e r p o o l - ..
M a n ch ester .
C o n tin e n t . .
A m e r ic a ____

190 6-0 7.

1 90 5-0 6.

3,0 0 0
6 .8 2 5 ,3 5 5

9 .0 0 0
5 ,8 2 2 ,7 5 9

8 5 ,000
5 ,9 2 5 ,1 7 6

T h is ! S in ce ■ T h is
S in ce
w eek. S e p t. 1. w eek. S ep t. 1.

S in ce
T h is
w ee k . S ep t. 1.

1,000 185,786
5 ,5 0 0 152 ,910
1,750 268 ,146
3,000 66,732

2,5 0 0 187,542
3,000 130,613
4,750 252,767
800 61,228

2 ,5 0 0 182,781
_____ 176 ,862
4 ,0 0 0 233 ,9 8 4
700: 9 9 ,776
7 ,2 0 0 7 5 3 ,4 0 3

11,250 6 73 ,574 11,0 5 0 6 32 ,150

a A c a n ta r is 98 lb s.

This statement shows that the receipts for the week were
3,000 cantars and the foreign shipments 7,200 bales.
EUROPEAN COTTON CONSUMPTION TO A PR IL 1.—
By cable to-day we have Mr. Ellison’s cotton figures brought
down to April 1. We give also revised totals for last year
that comparison may be made. The spinners’ takings in
actual bales and pounds have been as follows:
O ct. 1 to A p r il 1.

Great B rita in .

F or 1306=07.
T a k in g s b y sp in n e r s ___ .b a l e s .
A v e ra g e w e ig h t o f b a le s ___ l b s .
F or 190 5 -0 6 .
T a k in g s b y spin n ers
___ b a le s .
A v e ra g e w e ig h t o f b a le s ____ l b s .

C o n tin en t.

T o ta l.

3 ,6 0 0 ,0 0 0
5 ,9 6 6 ,0 0 0
2 ,3 6 6 ,0 0 0
492 .3
505
484
1 ,1 9 4 ,8 3 0 ,0 0 0 1 ,7 4 2 ,4 0 0 ,0 0 0 2 ,9 3 7 ,2 3 0 ,0 0 0
5 ,1 8 0 ,0 0 0
2 ,1 7 5 ,0 0 0
3 ,0 0 5 ,0 0 0
482
489.1
499
1 ,0 8 5 ,3 2 5 ,0 0 0 1 ,4 4 8 ,2 1 0 ,0 0 0 2 ,5 3 3 ,5 3 5 ,0 0 0

According to the above, the average weight of the deliveries
in Great Britain is 505 pounds per bale this season against
499 pounds during the same time last season. The Conti­
nental deliveries average 484 pounds, against 482 pounds last
year, and for the whole of Europe the deliveries average
492.3 pounds per bale, against 489.1 pounds last season.
Our dispatch also gives the full movement for this year and
last year in bales of 500 pounds.
19 0 6 -0 7 .
Oct. 1 to A p r il 1.
B a les o f 500 lbs. each.
000s om itted.

Great C o n ti­
B ritain n ent.

190 5-0 6.
Great C o n ti­
T otal. B ritain nen t.

T otal.

Spin n ers' s to c k O c t . 1 ________
T a k in g s t o A p ril 1 ___ _______

253
2,3 9 0

556
3,486

809
5,876

256
2,171

621
2,896

877
5,067

_______
S u p p ly . . .
._ —
C o n s u m p tio n , 26 w e e k s _______

2,643
1,951

4,042
2,730

6,685
4,681

2,427
1,924

3,5 1 7
2,6 2 6

5,9 4 4
4 ,5 5 0

.

692

1,312

2 ,0 0 4

503

891

1,394

W eek ly C on su m p tion
000s om itted.
O c t o b e r ___________ _____
N o v e m b e r ________________ .
D e ce m b e r .^ __________
J a n u a r y ____________________
F e b ru a ry ___________________
M a r c h ____ . ________
___

74
74
75
75
76
76

105
105
105
105
105
105

179
179
180
180
181
181

74
74
74
74
74
74

101
101
101
101
101
101

175
175
175
175
175
175

S p in n ers’ s to c k A p ril 1 ..........

In
In
In
In
In
In

The foregoing shows that the weekly consumption is now
181.000 bales of 500 pounds each, against 175,000 bales of
like weights at the corresponding time last year. The total
spinners’ stocks in Great Britain and on the Continent have
increased 240,000 bales during the month and are now
610.000 bales more than at the same date last season.
We are also advised that Mr. Ellison, calculating on the
basis of an American crop of 13,500,000 bales, estimates that
stocks of American cotton will be approximately 2,504,000
bales at the end of the season, as follows: at European
mills, 1,000,000 bales; at European ports, 1,004,000 bales;
and at American ports, 500,000 bales.
NATIONAL ASSOCIATION OF COTTON MANU­
FACTURERS.— Annual Meeting.— It has been announced
by the Secretary of the National Association of Cotton Manu­
facturers that the eighty-second annual meeting will be held
at Boston on April 24 and 25. Some of the papers expected
to be submitted will cover the following subjects: “ American
Cotton Textiles in the Far East;” “ Corporations and the
Public Welfare;” “ Cost of Maintenance and Depreciation in
Cotton Mills;” “ Hot Water Heating by Forced Circulation
as Applied to Cotton Mills;” “ Immigration of Textile Op­
eratives;” Primitive Designs as Influenced by the Textile
Arts;” “ Proposed System for Cleaning Machinery;” “ Re­
inforced Concrete Construction Especially Applied to Mill
Use;” “ Sea Island Cotton;” “ The Tariff on Cotton Goods;”
“ Taxation and Valuation with Reference to Industrial
Plants;” “ The New Whitin Comb;” “ The New York Cotton
Contract;” “ The Textile School a Future Necessity to the
Industry.”
The following officers were elected: Presidcmt, William D.
Hartshorne. agent of the Arlington Mills, Lawrence, Mass.;
Vice-Presidents, Charles T. Plunkett, of Adams, and George
Otis Draper of Hopedale, Mass.; directors for three years,
William H. Loftus of Newark, N. J.;-John W . Knowles of
New Bedford and Henry F. Mansfield of Utica, N. Y .; di­
rector for two years, Edwin Farnham Greene of Boston; di­
rector for one year, Frederick A. Flather of Lowell; Secre­
tary and Treasurer, C. J. H. Woodbury of Lynn.
JUTE BUTTS, BAGGING, &c.— th e market for jute
bagging has continued quiet the past week. Prices remain
nominally unchanged at 9^§c. for 2 lbs., standard grades.
Jute butts dull at 3 @ 4 c. for bagging quality.

1006

THE CHRONICLE.

W O R L D ’S SUPPLY AND TAKINGS OF COTTON.-*
The following brief but comprehensive statement indicates
at a glance the world’s supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like period.
1 90 6-0 7.

C o tto n T a k in g s .
W e e k a n d S ea so n .

W eek .

190 5 -0 6 .
W eek .

S ea so n .

S ea son .

V isib le s u p p ly on A p ril 1 9 . ______ 5 ,0 7 0 ,4 9 8
4 ,4 0 1 ,0 1 2
V is ib le s u p p ly S e p t. 1 ___________
f ,7 84,156
A m e r ic a n In sigh t t o A p ril 2 6 ___
124 ,816
113 ,335 12,3 4 3 ,6 1 1
81,000
B o m b a y r eceip ts t o A p ril 2 5 ___ '.
86,000 2 ,2 9 3 ,0 0 0
14,000
2 32 .000
O th er In d ia s h ip ’ts t o A p ril 2 5 . .
4.000
A le x a n d r ia r e c e ip ts t o A p ril 2 4 .
1,000
910 .000 1
1,000
3,0 0 0
9.000
O th e r s u p p ly t o A p ril 2 4 . a _____
2 29 .000
T ota l s u p p ly .

2 ,5 4 5 ,4 7 0
9 ,7 3 6 ,7 5 7
2 ,1 8 2 ,0 0 0
21 8 ,0 0 0
77 7 .0 0 0
37 5 .0 0 0

____________ 5 ,2 8 7 ,8 3 3 1 7 ,7 9 1 ,7 6 7 4 ,6 2 0 ,8 2 8 1 5 ,8 3 4 ,2 2 7

...

D ed u ct—
V isib le s u p p ly A p ril 26 _____

. 4 ,9 2 7 ,0 8 5

T o t a l ta k in g s t o A p r il 2 6 . _ . . .
O f w h ic h A m erica n .. ________
O f w h ic h o t h e r ___ . . . .

4 ,9 2 7 ,0 8 5 4 ,3 4 9 ,8 8 6

360 .7 4 8 1 2 ,8 6 4 ,6 8 2
248.748 9 ,7 5 7 ,6 8 2
1 :2 ,0 0 0 3 ,1 0 7 ,0 0 0

4 ,3 4 9 ,8 8 6

270 ,9 4 2 1 1 ,484,341
202 942 8 ,6 1 4 ,3 4 1
6 8 ,000 2 ,8 7 0 ,0 0 0

a E m b r a c e s r e c e ip ts In E u ro p e fr o m B ra z il, S m y r n a ,

W e s t In d ie s , & c.

IN DIA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
A p r il 25.

190 6-0 7.

R eceip ts at—

I S in ce
W eek , j S ep t. 1.

B o m b a y ___ __ ______

190 5-0 6.
W eek .

8 6 ,0 0 0 j2 .2 9 3 ,0 0 0

1904-05.

1 S in ce
S ep t. 1.

1 S in ce
W eek . | S e p t. 1.

8 1 ,0 0 0 2 ,1 8 2 ,0 0 0
I

F o r the W eek .

9 2 ,0 0 0 ,1 ,9 7 3 ,0 0 0

S in ce Septem ber 1.

E x p o rts fro m —
G reat
C o n ti­
B ritain . nent.
B om bay—
1 9 0 6 -0 7 ____ ______
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ___________
C a lc u tta —
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ....................
M adras—
1 9 0 6 - 0 7 .. . . . .
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ________ .
A ll oth ers—
____
1 9 0 6 -0 7 ..
1905-06 __________
1 9 0 4 -0 5 ________ .
T o t a l all—
1 9 0 6 -0 7 ..
______
1 9 0 5 -0 6 . ________
1 9 0 4 -0 5 ___________

Total.

C on ti­
nent.

Great
B rita in .

Total bales.
G A L V E S T O N — T o L iv e r p o o l— A p ril 19— Io w a , 2 2 ,0 7 4 ____________ 2 2 ,0 7 4
T o M an ch ester— A p ril 25— A n s e lm a d e L a rrin a g a , 6 ,9 5 1 ______
6,9 5 1
T o B elfa st— A p ril 23— R a m o r e H e a d , 4 2 3 _______________________
423
T o H a v re — A p ril 19— M a s co n o m o , 5 ,4 6 5 ____ A p r il 23— M ineo la , 1 1 ,9 4 1 ....................................................................................... ..............1 7,406
T o R e v a l— A p ril 23— R a m o r e H e a d , 1 ,9 5 1 _______________________
1,951
T o R ig a — A p ril 23— R a m o r e H e a d , 1 1 0 __________________________
110
782
T o S t. P e te rs b u rg — A p ril 23— R a m o r e H e a d . 7 8 2 _______________
T o R o t t e r d a m — A p ril 19— L o r d O rm o n d e , 4 5 ___________________
45
T o A n tw e r p — A p ril 25— C a y o M a n za n illo , 2 ,4 2 5 ________________
2,425
T o B a rce lo n a — A p ril 23— S icilia, 1 ,3 4 7 _______ _______ ___________
1,347
T o G en oa— A p ril 23— -Sicilia, 8 ,9 2 7 _______________________________
8,927
N E W O R L E A N S — T o L iv e r p o o l— A p r il 22— C a n d id a te , 8 ,6 6 9 ____
A p ril 25— J a m a ica n , 5 ,0 0 0 _______________ ______ _________________ 13,669
T o M a n ch ester— A p ril 22— C u b a n , 5 ,5 0 0 ________________________
5,5 0 0
T o H a v r e — A p ril 23— B o r d e a u x , 3 ,0 1 9 ___________________________
3,019
T o B re m e n — A p r il 2 4 — W e s t P o in t , 9 ,7 8 2 _______________________
9,782
T o H a m b u rg — A p ril 24— H o p e m o u n t, 4 ,0 0 0 ____________________
4 ,0 0 0
T o A n tw e r p — A p ril 20— O x o n ia n , 2 ,3 6 0 __________________________
2,3 6 0
T o O p o r to — A p ril 22— J o se G a lla rt, 4 ,7 0 0 _______________________
4 ,7 0 0
T o B a rce lo n a — A p ril 22— J o se G allart, 1 ,8 5 1 ____________________
1,851
T o G en oa— A p ril 23— D e lp h ln e , 7 ,7 3 0 ____________________________
7,730
1,542
S A V A N N A H — T o B re m e n — A p ril 20—-E u ro p a , 1 ,5 4 2 _______________
T o H a m b u r g — A p ril 22— N essfield , 9 8 2 . ...............................................
982
T o R e v a l— A p ril 20— E u ro p a , 1 ,1 0 0 _______________________________
1,100
B R U N S W I C K — T o L iv e r p o o l— A p ril 25— B ritish M o n a rch , 7 ,3 2 9 .
7 ,3 2 9
B O S T O N — T o L iv e r p o o l— A p ril 20— M ich ig a n , 3 3 1 _________________
331
B A L T I M O R E — T o L iv e r p o o l— A p ril 22— R o w a n m o r e , 2 ,3 6 8 ______
2,3 6 8
T o H a v r e — A p ril 20— H e m p s te a d , 1 0 ____________________________
10
P H I L A D E L P H I A — T o R o t t e r d a m — A p ril 13— A s to r ia , 8 0 0 _______
800
P O R T L A N D , M E .— T o L iv e r p o o l— A p ril 13— K e n s in g to n , 2 8 ____
A p ril 20— S o u th w a rk , 5 0 ________ _______________________________
78
S A N F R A N C I S C O — T o J a p a n — A p ril 23— K o re a , 1 ,1 0 8 ____________
1 ,1 0 8
T o t a l ........ ....................... ....................................................... ................................ 140 ,339

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
G reat F r e n c h Ger- — O th .E u rop e— M e x .
B r ita in ,
ports, m an y. N o rth . S ou th. & c. J a p a n .
N e w Y o r k ........... 4,770
288
141
635
3,8 0 5 .......................
G a lv e s t o n ______ 29,448 17,406
______
5 ,3 1 3 10,274 _____ ____
N e w O r le a n s . ..1 9 ,1 6 9
3,019 13,782 2 ,3 6 0 14,281 _____ ____
S a v a n n a h ______ ____
____
2 5 24 1 ,1 0 0
____ _______ ____
B r u n s w ic k ______ 7,329
____
B o s to n ________
331
____
____
B a l t i m o r e ______ 2,368
10
_______
P h ila d e lp h ia ___ ____
____
____
P o r t la n d , M e ___
78
____
____
S an F r a n c i s c o .. ____
____
____
1,108

T otal.

2 ,0 0 0
1,000
2 ,0 0 0

3,0 0 0
35,0 0 0
17,000

5.000
36,0 0 0
19,000

4 2 ,0 0 0
4 7 ,0 0 0
16,000

7 8 1 ,0 0 0
591 ,0 0 0
2 3 9 ,0 0 0

8 2 3 ,0 0 0
6 3 8 ,0 0 0
2 5 5 ,0 0 0

1,000

7,0 0 0
2,000

8,0 0 0
2,000

5 ,0 0 0
5,000
1,000

95,0 0 0
76,0 0 0
17,000

1 00 ,000
81,0 0 0
18,000

3,0 0 0
2,000
2 ,0 0 0

19,000
35,0 0 0
12,000

22,0 0 0
37,0 0 0
14,000
110 ,0 0 0
100 ,0 0 0
106 ,000

1,000

5,0 0 0
2,000
7 .0 0 0

6,0 0 0
2,000
7,0 0 0

8 ,0 0 0
10,0 0 0
7 ,0 0 0

102 ,000
90,0 0 0
9 9 ,0 0 0

4,0 0 0
1,000
2,0 0 0

15,000
39,000
24,000

4 0 ,0 0 0
4 0 ,0 0 0
2 6,0 0 0

58 ,000
6 4 ,000
2 6 ,0 0 0

9 97 ,000 1 ,0 5 5 ,0 0 0
8 56 ,000
7 9 2 ,0 0 0
36 7 ,0 0 0
3 93 ,000

[V o l . l x x x i v .

63,493 2 0 ,723 16,447 10,208 2 8 ,3 6 0

____

T otal.
9,639
62,441
52,611
3,624
7 329
331
2,3 7 8
800
78
1,1 0 8

1,1 0 8 140 ,3 3 9

The exports to Japan since Sept. 1 have been 200,439 bales
from Pacific ports, 10,000 bales from Galveston and 2,536
bales from New York.
Cotton freights at New York the past week have been as
tions being in cents per 100 lbs.
S a t.
c.
17
c.
16
c.
2 2 )4
c.
18
c. 18 @ 2 0
C.
20
.c.
25
c.
30
c.
c.
c.
c.

30
18
32
45

M on.
17
16
22^
18
18@ 20
20
25
30

T u es.
17
16
22 14
18
18 @ 2 0
20
25
30

W ed .
17
16
22 M
18
18 @ 2 0
20
25
30

T liurs.
17
16
22 14
18
18 @ 2 0
20
25
30

F r i.
17
16
22 54
18
18 @ 2 0
20
25
30

30
18
32
45

30
18
32
45

30
18
32
45

30
18
32
45

30
18
32
45

LIVERPOOL.— By cable from Liverpool we have the fol­
According to the foregoing, Bombay appears to show an
increase compared with last year in the week’s receipts of lowing statement of the week’s sales, stocks, &c., at that port:
A pril 5.
A p r i l 26.
A p r il 12.
A p r il 19.
5.000 bales. Exports from all ports India record a loss of
o f th e w e e k _______ b a le s .
37,000
69 ,0 0 0
78,0 0 0
65,000
21.000 bales during the week and since Sept. 1 show an Sales
O f w h ich sp e cu la to rs t o o k . .
1,000
3 ,0 0 0
7 ,0 0 0
2,000
increase of 199,000 bales.
4,000
O f w h ich e x p o r te r s t o o k ___
1,000
3,0 0 0
2,000
Sales, A m e r ic a n _______________
33,000
6 1 ,0 0 0
71 ,000
5 9 ,0 0 0
SHORT TIME IN EAST INDIAN MILLS.— Recent ad­ A c t u a l e x p o r t __________________ 18,000
5.0 0 0
2 0 ,0 0 0
11,000
83,000
7 8 ,0 0 0
94 ,000
8 0 ,000
vices are to the effect that the owners of the Bombay cotton F o r w a r d e d _____________________
1 ,2 3 2 ,0 0 0
c k — E s tim a te d ______1 ,2 5 8 ,0 0 0
1 .2 2 9 ,0 0 0
1 ,2 5 6 ,0 0 0
spinning mills have decided by a large majority to work T o Otafl wsht oich
A m e r ic a n — l i s t . .1 ,1 3 0 ,0 0 0
1 ,1 1 5 ,0 0 0
1 ,1 1 1 ,0 0 0
1,1 3 2 ,0 0 0
86 ,0 0 0
85 ,000
115,000
short time, i n order to reduce the large unsold stock of yarn T o ta l Im p o rt o f th e w e e k ______ 1 1 2 ,0 0 0
75 ,0 0 0
A m e r ic a n __________
7 1 ,0 0 0
92,000
97,000
i n China.
It has been decided to close the mills three days A mOofuwnht ich
2 5 0 ,0 0 0
a flo a t__________________ 2 8 0 ,0 0 0
2 6 2 ,0 0 0
218 ,0 0 0
2 0 5 ,0 0 0
O f w h ich A m e r ic a n __________ 2 3 4 ,0 0 0
a week, including Sunday, and work only thirteen hours a
2 1 6 ,0 0 0
175,000
day.
T h i s arrangement will continue until June 1 5 next.
The tone of the Liverpool market for spots and futures
MANCHESTER M ARKET.— Our report received by each day of the past week and the daily closing prices of
cable to-night from Manchester states that the market spot cotton have been as follows:
is firm for both yarns and shirtings. Spinners are consid­
ered to be well under contract.
We give the prices
Spot.
Saturday.
M onday.
Tuesday. Wednesday. Thursday.
Friday.
for to-day below and leave those for previous weeks of Market
this and last year for comparison.
Good
12:15
V Hardening
Good
Good
G ood
Good
P. M.

1907.
32s Cop.
Twist.
Mch
15
22
29
Apr.
6
12
19
26

1906.

8 H lbs. Shirt­
ings, common
to finest.

d.
d. s. d.
s.
9 15-16 @ 10 ^ 6 7J4 @ 9
9 % @ 10 15-16 6 8 @ 9
9 13-16® 10^, 6 8 @ 9
9 13-16@
9Ya
@
10
@
10K
@

10 '/* 6
li
6
11H 6
ilk 6

8
8

d.
6.03
6.01
5.97

d.
8%
@
8H
@
8 13-16®

9
9
9
9 10

6.03
6.16
6.28
6.39

8 15-16®
9
@
9
(S)
814
@

@9
@9

8 M lbs. Shirt­
ings, common
to finest.

32s Cop
Twist.

d.
9
9
9

8J4 @ 9

9@

CoCn
M id
Upl's

d.
934
»%
9 V,

s. d.
s.
6 i)4 @ 9
6 5 @9
6 5)4 @ 9

10
6
10^ 6
lOKs 6
im 6

6

@9

6\4 @ 9
&y2 @ 9
6 Yi @ 9

Cot'n
M id
Upl's

d.
5Ml
iy 2
6

d.
5.77
6.00
0.03

7

G. 10
6.16
6.04
6.07

7)4
7)4

SHIPPING NEWS.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 140,339 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total
N E W Y O R K — T o L iv e r p o o l— A p ril 22— C a rm an ta, 150 fo r e ig n ____
A p ril 23—-V ic to r ia n , 3,145 u p la n d . 853 f o r e ig n _______ . . .
T o H u ll— A p ril 20— T o r o n t o , 3 7 2 . ...........................................................
T o L o n d o n — A p ril 19— M in n eh ah a , 2 5 0 __________________________
T o H a v re — A p ril 20— L a G a scog n e, 16 fo r e ig n ___________________
T o M arseilles— A p ril 24— G allia, 2 7 2 __________________________ __
T o B rem en — A p r il 24— C h e m n itz , 1 4 1 _________________________ _
T o R o t t e r d a m — A p ril 22— T r o n t o , 1 3 5 _______________________ ____
T o A n tw e r p — A p ril 19— F in la n d . 5 0 0 _______________________ _
T o B a rce lo n a — A p ril 26— H o lla n d , 1 , 3 3 5 . . ________ _____________
T o G en oa— A p ril 19— P rln zess Ire n e , 1 ,7 9 5 ____ A p ril 23—
M o ltk e , 2 __________________________ _____________ _________________
T o N a p les— A p ril 19— P rln zess Iren e 3 7 3 _____________ __________
T o L e g h o rn — A p ril 19— C a lab ria, 1 0 0 . ....................................... .........
T o T r ie ste — A p ril 24— F ra n ce s ca , 2 0 0 ____________________________




j

demand.

Mid. upl’ds

bales.
4 ,1 4 8
372
250
16
272
141
135
500
1,335
1,797
373
100
200

S a le s ..........
Spec.& exp.
Futures.
Market
\
opened
J
Market
4
P. M.

6.37
10,000
1.000
Quiet at
1 @ 3 pts.
advance.

1 Quiet at
<a 5 pts.
\
j advance.

6.36

demand.
6.29

demand.
6.35

10,000
12,000
12,000
1,000
1,000
1,000
Quiet at
Steady at Steady at
1 ® 1 H pts. 2)4 @ 3 pts. 2 points
decline.
advance.
advance.
Dull at
3 @ 4 pts.
decline.

dem and.
6.40
12.000
1,000
Steady at
2 points
advance.

demand.
6.39
14,000
1.000
Quiet at
1 point
decline.

Quiet at
Quiet.
Firm at
tSeady at
1 ®3J^pts. 1H @ 5 pts. 5 ® pts. 2 ® 3 H Pts.
decline.
decline.
advance.
advance.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.
The p rices are given in p ence and 100ths.
S at.
A p ril 20
to
12Y< 12Yi
April 26. p .m . p .m .
d.
A p ril .
A p r .-M a y
M ay-Ju n e
J u n e -J u ly
J u ly - A u g .
A u g .-S e p .
Sep .-O c t .
O c t .- N o v .
N o v .- D e c .
D e c.-J a n .
J a n .- F e b .
F e b .-M c h .

____
____
____
____

5
5
5
5
5
5
5
5
5
5
5
5

d.
90
85 14
80 H
80 H
V7 H
VI Vi
66 H
63
62 H
62 h
63 *4
64 H

M on.

T u es.

T h us: 5 90 m ean s 5 9 0-100 cf.
W ed.

Th u rs.

Fri.

4
12X
12)4
12M
12.vi
4
4
4
12Y*
4
p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m .
d.
89 )4
84 14
84 H
79
76
70
65 H
62
em
61 \4
62 *
63 \4

d.
87
82
82
76 W
73 H
67 14
63 H
60
59 >4
59 H
60
61

d.
82 >4
78
78
72
69 Vi
63 H
59 >4
56 W
56
56
56 M
57 \4

d.
86
81
81
75
72
65 14
61
57
56
56
56 Vt
57 14

d.
89
83 V,
83 '4
77
73 14
67
62 \4
57 '4
56 H
56
58
57

d.
91
85
85
78 H
75
68
63
59
58
58
58
59

d.
94
88
88
82
78'/*
71 H
<>6H
62
61
61
61
62

d.
96
90
90
84
80 H
74
69
65
64
64
64
65

d.
93
87
87
81 W
78 t<j
72
68
64
63
63
63
64

d.
94
86
86 14
8 0 14
77 >4
71 ^
67
63
61 14
61 H
61 \4
62J4.
m

THE CHRONICLE.

A p e . 27 1907.]

1007

The following are closing quotations:

BREADSTUFFS.
26 1907.
Prices for wheat flour have been firm, influenced by the
advance in wheat and unfavorable reports in regard to the
wheat crop. At the mills flour quotations have been ad­
vanced. Trade here, however, has been so dull that prices
have been to a large extent nominal. Dealers show as little
disposition as ever to replenish their supplies. Export
business has been stagnant and the shipments from the sea­
board have been small. Rye flour has been quiet and steady.
Corn meal has been dull but firm.
Wheat has continued to feel the effects of bad weather in
the Southwest, where there has been too little rain and too
much cold weather, and where, moreover, it is said the crop
has been damaged. Reports differ as to the amount of the
damage, but the consensus of opinion is now that it has been
sufficient to warrant some advance in prices, although, as
usual, it has doubtless been exaggerated. In addition, bad
crop reports have come from Roumania and Hungary, and
those from Spain have not been altogether favorable. It is
significant, too, that European markets begin to place more
credence in the reports of American damage, judging from
the sharp advance there of late, particularly in Liverpool.
That market, however, has also been influenced by the re­
ports from Roumania and Hungary and the fact that offer­
ings have been light. Another interesting factor contributing
to the advance here has been a noteworthy increase in the
export demand, which also seems to indicate that Europe
is not altogether incredulous concerning the reports of dam­
age on this side of the water. The weather at the North­
west has been so cold as to delay seeding of spring wheat.
Seeding in the Canadian Northwest is said to be ten days
behind, and some fear is expressed that the acreage may be
curtailed, owing to more or less general floods in the valleys,
which, if not serious, at least mean that there is so much
water in those sections that it retards farm work. The
Argentine shipments have also fallen off noticeably, although
the total world’s shipments last week, it is worth recalling,
were very much larger than in the previous week and in the
corresponding week last year. It is also true that the
Northwestern receipts have been large, and light rains in
Kansas have at times caused selling. On the whole, how­
ever, the market has been distinctly strong, flour has ad­
vanced at the mills, the rise in foreign markets has greatly
encouraged the believers in better prices for wheat, and for
the first time in a long period exporters really show some de­
sire to take hold and do business, and the actual transactions
with Europe have reached a large .volume. To-day prices
rose sharply on sensational reports of damage to the crop
and general buying. The speculation was active and excited.
F rid a y , A p ril

D A I L 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 IN N E W Y O R K .
ft S a t. M o n . T u es. W ed. T h u rs. F r i .
84%
85%
85%
87
88%
N o . 2 red w in t e r ................... . .............. . 8 5 %
M a y d e liv e ry in e le v a t o r ____________ 8 7 %
86%
87 %
87%
88 %
9<> %
J u ly d e liv e ry in e le v a t o r ____________ 88 %
87%
88%
88 %
88%
90%
S e p te m b e r d e liv e ry in e le v a t o r ______8 9 %
89
89 %
90 %
89 %
91 %
D A I L 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 IN C H I C A G O .
S at. M o n . T u es. W ed . T h urs. F r i .
M a y d e liv e ry in e le v a t o r ____________ 7 8 }$
78
78%
79
78%
80%
J u ly d e liv e ry in e le v a to r ____________ 81
80%
81%
81%
81%
83 %
S e p tem b er d e liv e ry in e le v a t o r _____ 82 %
82 yi
83%
83%
83%
85

Indian corn futures have advanced under the stimulus of
cold weather at the West, where farm work has been de­
layed. The speculation at the West has been active, and
the strength of May has had a bracing effect on the later
positions. The cash market has been strong, moreover,
and at times the export demand has been active. The
strength of the Liverpool market has had considerable
effect here. The receipts at Chicago have continued small
and contract supplies are still light. Leading Chicago op­
erators have bought freely at times, and there has been a
good demand at the West from commission houses. To-day
prices advanced on the advance in wheat, a strong cash
market and general buying.
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N
S a t. M o n . T u es.
Cash c o r n ............................_ _ ..................... 5 7 % . 5 7 %
5 7 )4
M ay d e liv e ry in e le v a t o r ____________ 5 5 %
56
55%
J u ly d e liv e ry in e le v a t o r ____________ 5 6 %
56%
56%
D A I L 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
Sat. M o n . T u es.
M a y d e liv e ry in e le v a t o r ____________ 4 7 %
47%
48%
J u ly d e liv e ry in e le v a t o r ____________ 4 8 %
48%
48%
S ep tem b er d e liv e ry in e le v a t o r ______4 8 %
48%
49%

IN N E W Y O R K .
W ed . T h u rs. F r i .
58
58
60
57%
58
59 %
57
57%
58%
IN C H I C A G O .
W ed . T h urs. F r i .
48%
49%
50%
49%
49%
49%
49%
50
50

Oats for future delivery in the Western market have ad­
vanced, owing to unfavorable weather and crop reports.
The reports of damage have caused active buying by com­
mission houses at times and shorts have covered freely.
Much replanting will be necessary, it is stated. The cash
market has been firm and active. The receipts have been
light and the market has sympathized with the upward
movement in wheat. To-day prices advanced on the rise
in wheat, bullish crop reports, covering, and buying by com­
mission houses.
D A I L Y C L O S IN G P R I C E S O F O A T S IN N E W Y O R K .
S a t.
M on.
T u es.
W ed .
T h urs.
F r i.
M ix e d , 26
to321bs.
47%
47
47
47%
47
47%
W h i t e
c lip p e d ,
30 t o 38
lb s ___5 0 % - 5 2 % 5 0 % - 5 2 % 5 0 % - 5 2 % 5 0 % - 5 2 % 5 0 % - 5 2 % 5 0 % - 5 2
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D O A T S IN C H IC A G O .
S a t. M o n . T u es. W ed . T h urs. F r i .
M a y d e liv e r y in e le v a t o r ____________ 4 4 %
43%
43%
43%
44%
44%
J u ly d e liv e r y in e le v a t o r ____________ 4 1 %
40%
41
41%
41%
41%
S e p te m b e r d e liv e r y in e le v a t o r ______3 5 %
35%
35%
35%
35%
36%




L o w g r a d e s ______________$2
S e c o n d c le a rs___________ 2
Clears ___________________ 3
S tra ig h ts ________________ 3
P a te n t, s p r in g --------------- 3
P a te n t, w in te r __________3
K an sas p a te n ts ------------- 3
W h e a t , p er b u s h .—
N . D u lu th , N o . 1 _______
N . D u lu th , N o . 2 ...........
R e d w in te r, N o . 2 ____
H a rd
“
"
------O a ts— p e r b u sh e l—
N o . 2 w h it e ____________
N o . 2 m ix e d ___________
N o . 2 w h ite , c li p p e d - .

FLOUR.
@ $ 3 10 I K a n sa s s tr a ig h ts _______ $8 60 @ $ 3 70
@ 2 95 K a n sas cle a rs ___________ 3 10 @ 3 25
@ 3 50 B le n d e d p a te n ts ________ 4 60 @ 4 95
@ 3 75 |R y e flo u r _______________ r 3 65 @ 4 15
N o m in a l.
@ 4 25 |B u ck w h e a t flo u r _______
@ 4 00 |G ra h am flo u r ___________
N o m in a l.
3 9 0 1 C o r n m e a l_______________ 2 75 @ 2 85
G R A IN .
C o rn , p e r b u s h .—
c.
N o . 2 m ix e d ___________ f .o .b .6 0
...
96%
f .o .b .9 5 %
N o . 2 y e llo w , n e w ____ f .o . b .5 7 %
f .o .b .8 8 %
N o . 2 w h ite , n e w ______ f .o .b .5 8
f .o .b .9 1 K R y e , p e r b u s h .—
N o . 2 W e s t e r n __________ N o m in a l.
S ta te a n d J e r s e y _______ N o m in a l.
49 @ 51
4 7 % B a rle y — W e s t e r n ________ N o m in a l.
F e e d in g ________________ N o m in a l.
50 @ 52
75
90
25
65
95
75
75

GOVERNMENT W E E K L Y W E ATH E R REPO R T.— Mr.
James Berry, Chief of the Climate and Crop Division of the
United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending April 22, summarizing them as follows:
T h e w e e k e n d in g A p ril 22 1907 Is th e th ird c o n s e c u tiv e w e e k o f a b n o r ­
m a lly c o ld w e a th e r in th e d is tricts east o f th e M ississippi R iv e r . T h e p e r io d
fr o m th e 8th t o th e 22nd w as a b n o rm a lly c o ld th r o u g h o u t t h e c o u n t r y
e ast o f th e R o c k y M ou n ta in s; th e last seven d a y s h a d a m e a n te m p e r a tu r e
c o n s id e r a b ly b e lo w th e n o rm a l In th e P la te a u re g io n s an d In all d is tric ts
t o th e e a stw a rd , w ith th e e x c e p t io n o f F lo r id a , t h e te m p e r a tu r e w a s d e ­
c id e d ly b e lo w th e n o r m a l, th e m o s t m a rk e d d e ficie n cie s o c c u r r in g In th e
ce n tra l v a lle y s . T h e general w e a th e r c o n d it io n s o f th e w e e k w ere u n fa v o r ­
a b le In n e a r ly all d is tricts east o f th e R o c k y M o u n ta in s , b u t o n th e P a c ific
C oa st an d In th e S ou th ern P la te a u region t h e y w e re fa v o r a b le .
F r e e z in g
w e a th e r p re v a ile d as fur s o u th as n o rth w e ste rn T e x a s , th e ce n tr a l M is­
sissippi an d u p p e r O h io v a lle y s , w estern N o rth C a ro lin a and t o th e N ew
Jersey c o a s t, w ith h e a v y fro s ts as fa r s o u th as A rk a n sa s and T en n es s ee.
E x c e p t in th e G u lf S tates an d o v e r th e so u th e a ste rn R o c k y M o u n ta in slo p e ,
w h ere th e p r e c ip ita tio n w a s m u c h a b o v e th e n o r m a l, th e w e e k w a s g en era lly
d r y , large areas in th e ce n tra l v a lle y s an d L a k e re g io n r e c e iv in g n o rain
o r o n ly in a p p re cia b le sh ow ers. T h ere w a s also a p r a c tic a l a b s en ce o f rain
o n th e n o rth e rn N ew E n g la n d c o a s t, In so u th e rn F lo r id a , so u th ern O re g o n
a n d o v e r th e w estern p o r tio n s o f th e ce n tra l an d so u th e rn P la tea u r e g io n s
a n d in C a lifo rn ia .
T h e d r o u g h t in th e ce n tra l G u lf d is tricts has b e e n re ­
lie v e d , b u t rain is n e e d e d o v e r a large p a r t o f th e u p p e r M ississippi a n d
lo w e r M issouri v a lle y s .
S n o w an d sleet o c c u r re d o v e r a la rge p a rt o f th e
ce n tra l v a lle y s o n th e 16th an d 18 th , an d sca tte re d h a ils to rm s in th e S o u th
A tla n tic S tates o n th e 1 8 th . T h e re w as m u c h c lo u d in e s s in th e S ou th
A t la n t ic a n d G u lf S ta te s, b u t a m p le su n sh in e in th e ce n tra l v a lle y s .

The statement of the movement of breadstuffs to market as
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 Aug. 1 for each of the last three years, have been:
Receipts at—

Flour.

Wheal.

C om .

Barley.

Oats.

Rye.

bbls.lWlbs. bush. 60 lbs. bush. 56 lbs. busk. 32 lbs. bush iBlbs. bu. 56 lbs.
354,290
2,156,289
48,178
217,980
1,988,555
C h ica g o____
188,256
198,000
55,000
227,200
24,300
95.000
63,175
M ilw aukee..
5,900
92,391
323,427
4.416
D ulu th_____
40,750
1,338,128
155,800
27,350
2,256,740
69,360
451,610
M inneapolis.
134,900
400
39.000
121,000
1,200
35,724
96,077
D etroit_____
¥,500
55,819
104,568
12,715
Cleveland . .
866
628,800
58,500
56,620
170,425
458,415
" 8’,018
St. L o u is ___
219,500
7.000
66,000
10,800
166,100
16,950
P e o r ia _____
296,800
462.000
158,000
Kansas C ity.

‘ ~Y,806

T ot.w k .’07
Same wk. ’06
Same wk. ’05

368,417
385,190
269.850

4,603,988
1,782,091
2,078,915

4,299,033
3,264,112
1,835,779

3,222,975
1,902,278
2,253,889

119,662
106,455
69,388

1,159,517
732,598
729,054

Since Aug. 1.
1906-07 . . 15,593,443 191,225,376 157,960,241 155,728,118 58,922,377 6.476.018
1905-06 . . 14,959,384 195,085,279 139,786,956 177,330,186 68,605,778 6.819.018
1904-05 . . 12,903,218 179,595,914 148,534,053 128,515,951 57,953,072 6,064,921

Total receipts of flour and grain at the seaboard ports for
the week ended April 20 1907 follow:
Receipts at—
Xew Y o rk ------------B o s t o n ___________
P o r t l a n d - ___—
P h iladelphia_____
Baltim ore---- --------R ic h m o n d ___—
N ewport News-----New O rleans.a . .
G a lv e s t o n _______
Montreal__________

Flour,
bbls.
134,153
35,088
13.928
62,700
49,697
3,760
37,603
19,221

St. Joh n . _______

5,120
4,496
37,177

Total week_____
W eek 1906------------

402,943
224,557

Wheat,
bush.
295,000
104,055
22,896
72,660
41,921
43,170
______
32,700
199,000
65,719

Oats,
bush.
601,500
93,370
4,480
93,397
107,941
62.716
______
71,000
______
13,904
11,191

13.918

1,761,729
1,059,946

1,059,499
1,478,256

116,884
147,823

100,096
977,217
1,069,445

B arley,
bush.
99,600

Corn,
bush.
586,950
178,733
25,714
80,526
500,856
33,928
103,120
243,000
5,000
3,900

R ye,
bush.

150,150
725

1,000

_____
_____
15,666

_____

2,144
_____
_____
2,366

168,685
11.111

a Receipts do not include grain passing trhougti New Orleans for foreign p o r t s
on through bills of lading.

Total receipts at ports from Jan. 1 to April 20 compare
as follows for four years:
F lo u r ..................................b b ls.

1907.
5,922,042

1906.
4,821,951

W h e a t ________________ bush. 22,316,586
C o m __________________ _____ 42,337,129
O a t s . . . ........................................ 14,724,606
Barley ........................................
1,890,782
R y e ...............................................
537,381
Total g r a in ........................... 81,806,484

111.427,777

1905.
3,068,995

1904.
6,375,245

5,412,609
50,323,356
11,858,428
2,535,994
166,927

14,205,908
25,838,918
13,513,216
1,563,444
464,559

70,297,314

55,586,045

The exports from the several seaboard ports for the week
ending April 20 1907 are shown in the annexed statement:
Flour,
bbls.
79,874
13,928
24,172
48,851
30,698
37.603
24,869
2,900
4,496
37.177

Oats,
bush.
36,520
4,480
______
1,190
______
______
1,689
______

Total w eek------1 ,145,067 1,731,203 304,568
Same time 1 9 0 6 .. 996,173 1,808,567 170,925

55,070
489,600

Exports 1rom—
Xew Y ork ..............
Portland------------B o s t o n __________
P h iladelph ia-----B altim ore_____ .
Newport N e w s.. Xew Orleans . . .
G alveston- _____
M o b ile __________
St. John, N. B ___

Wheat,
bush.
275,008
22,896
206,511
283,300
12,988
244.268
100,096

Com ,
bush.
564,913
25,714
86,247
189,670
665.820
103.120
21,729
72,640
1,350
............

11,191

R ye, Barley,
bush.
bush.

P ea s.
bush.

_____
_____

_____
_____

382

_____
_____
_____
_____
_____
..........

_____
_____
747
_____
_____
_____
_____
_____
13,918

14,665
34,313 203,123

_____
_____

30

_____
_____
--------

412
2.882

1008

THE CHRONICLE.

The destination of these exports for the week and since
1 1906 is as below:

J u ly

-F lo u rSince
W eek
July 1
Exports for week and A p r.20.
1906.
since J uly 1 to—
bbls.
bbls.
United K ingd om ___178,287 5,020,309
C on tin en t....... ........... 75.985 2,109,704
So. and Cent. A m er. 14,256
652,083
W est Indies_______ 25,516 1,241,558
Brit.No.Am .CoIonies 9.641
71,115
Other countries____
883
157,801

-C orn-Wheat—
Since
Since
W eek
July 1
W eek
July 1
1906.
A pr. 20.
1906. A pr. 20.
bush.
bash
bush.
bush.
425,089 25.878.S65
429,792 39,479,932
712.Q55 35,842,266 1,253,041 32,030.166
8,087
763,462
2,252
321,048
42,868 1,927,128
968:
11,515
1.100
82,050
______
8,000
............
379,935
1,018
163,403

T otal ___________ 304,568 9,252,570 1,145,067 76,042,696 1,731.203 60,845,074
Total 1905-06______ 170.925 8,816,522
996,173 45,601,002 1,808,567102,005,268

The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports April 20 1907, was as follows:
Wheat,
bush.
New Y o rk . ...................... 1,229,000
afloa t_________ _________
B o s t o n ................ .............
223,000
P h ilad elp h ia __________
224,000
B a lt im o r e ..___________
283,000
New Orleans__________
195,000
G alveston_____________
412,000
M o n tr e a l_____ ________
23,000
T o r o n t o ......................... 22,000
B u ffa lo __________ ______
707,000
"
afloat_______ _________
T o l e d o ________________
741,000
afloat_______ _________
D e tr o it_______ ________
279,000
afloat_______ _________
Chicago________________ 9,756,000
afloat_______ _________
M ilw aukee____________
397,000
a f lo a t - ._____ _________
Fort W i ll ia m ... ......... .. 4,263,000
Port A rthur___________ 4,791,000
a flo a t.............
490,000
D u lu th _______________ 8,510,000
afloat.............. 2,590,000
M inneapolis___________ 10,655,000
St. L o u i s . . . .................... 2,075,000
afloat_______ _________
Kansas C ity_______ ___ 3,536,003
P e o r i a ______________ _
222,000
Indianapolis_____ ______
92,000
On Mississippi R iv e r______________
On L a k e s_____________
272,000
On Canal and R iv er..... ....................
Total April 20 1907.-51,987,000
Total April 13 1907.-51,179,000
Total April 21 1906 . . 43,943,000
Total April 22 1905.-30,417,000
Total April 23 1904..31,196,000
T otal April 25 1903— 35.568,000

C om ,
bush.
779.000
" "4 74",000
135.000
1,846,000
261.000
123,000
39,000

Oats,
bush.
538.000
"~~

52.000

1.666

68,000

619.000

158.666

270.666

737,666
33 ,000

19.000

297,666
9,000

"

899",000
" 459,666
" 270,666
1, 977, 6o 6

l",206", 000

" "4 14,666

" "4 10",000

952,000

186,000

265.000
519,003

3,080,000
284.000

51,000
7,000

’ 802,666
195.000
134.000

76,000
894.000
136.000

20,000

770,666

" 161",000

10,367,000
11,217,000
7.074,000
11,092,000
8,886,000
7,734,000

9.946.000
9.472.000
18.190.000
14.671.000
9.912.000
6 . 5 0 5 .0 0 0

’

"

Barley
bush
30,000

2~666

139.000
223.000
150.000
"

R ye,
bush.
156.000

15.666
569.666
"

2 ,666

1.236.000
1.157.000
1.896.000
1.186.000
1.043,003
1,137.000

2,000
239.666
129.666

1,271,000
78.000
573,000

10.000

2.670.000
2.672.000
2.822.000
1.983.000
2.858.000
1.355.000

T H E DRY GOODS T R A D E .

181,798
4 7 ,0 7 2 ,9 6 4

1 ,5 3 5 ,2 9 4
2 ,9 0 5 .9 0 9
2 ,6 6 2 ,4 8 9
1 ,254,707
924,871

2,365,635

W A R E H O U S E W IT H D R A W A L S
TH ROW NM UPON
THEM A R K E T .
M anufactures o f —
W o o l . . ...... ................................................
13244,1935,343
1,633,709 196
50,792
4,880
C o t t o n .........
460 141,573
11,966
3.777,441
463
137,892
9,636
S i l k ----------- v ----------------237138,6424,123
2,506,560
195
121,190
4,341
F la x .............. ................................................
590113,503 8,257
1,860,486 322
67,557 5,953
Miscellaneous ................
1,67267,112
52,510
1,534,252
2,679
4 5 ,1 7 4
103,858

56,3 5 6 ,2 3 1

9 ,2 8 3 ,2 7 0
47,0 7 2 ,9 6 1

10,681

128,668
181,798

52,587,854

310,466

201,535

422,605
2,365,635

9,7832,518,952

3,855
10,681

.........

11,312,448
52,587,854

Total

82,199
201,535

IM P O R T S JE N T E R E D
FOR CONSUMPTION F O R T H E W a E K AND SINCE JA N . l^ O t .A N D ^ d O f i .
Week
Ending
Week E n d in g
April
20 1907.
Slnc« Jan. 1 1907.
April 21 1906. Since J an . 1 1906
Pkgs.
Value.
Pkgs.
Value.
Pkgs.
V a lu e.
P k g s.
V a lu e.
Manufactures o f —
$
$
$
$
594148,40616,366
4,952,550 510
154,667
16,406 5 ,2 7 4 ,4 9 3
W o o l ........... ................................................
C o t t o n .........
2,815 860,733
55,229." 18,334,040
2,974
900,506
53,851 1 7 ,1 4 5 ,4 6 5
_ S i l k ......... ........................
1,604
860,259
30,015
16,497,075
1,263
691,476
25,017 1 3 ,2 6 4 ,7 9 7
F la x ..............
1,569374,272
32,256
6,844,562
1,840
374,007
33,146 6,756 724
M is c e lla n e o u s .........................................
3,201275,28267,669
5,959,627
4,094
244,979
53,378 4 ,6 3 1 ,4 8 2

3,091 505,023
9,783
2,518,952

T o t a l-w it h d r a w a ls - ......
Entered for c o n s u m p t io n ..

2,788,240

P E R IO D .

14,536

1 ,748,801
2 ,7 5 4 ,8 3 8
2 ,4 9 2 ,8 8 0
1,2 5 1 ,5 4 7
921,381

63,900,302

5,656
8,784
4,076
5,783
83,090

283,734

44,941
182,476
107,258
121,951
71,337

3,023,975

Total m a r k e t e d ----------- 12,874

IM PO R TS
EN TERED
FORW A R E H O U S E
DURING
SAME
Manufactures o f—
W o o l ........... ................................................
20154,4194,795
1,545,507 313
C o t t o n . .......
547 164,616
10,967
3,627,473
551
S i l k ..............
343207,116
3,923
2,424,914
185
F l a x . . .........
660 162,669
7,724
1,891,771
578
79199,100 41,762
1,936,407
1,003
M is c e l la n e o u s ................ ........................

5 6 ,2 4 2 ,4 0 8

527,963 107,389 9 ,1 6 9 ,4 4 7
181,798 47,0 7 2 ,9 6 1

289,187




2,893,598

9 8 ,7 0 8

13,311

4 .7 8 7

64,013,926

7 4 ,9 4 3

270,706

2,574

3,206,872

.........................................................

The value of these New York exports since Jan. 1 has been
$4,714,786 in 1907, against $5,423,462 in 1906.

The importations and warehouse withdrawals of dry goods
at this port for the week ending April 20 1907 and sinceJan. 1 1907, and for the corresponding periods of last year,
are as follows:

.................................................................................
2,542687,92069,171
11,426,072 2,630
for c o n s u m p t io n _. 9,783
2,518,952
201,535
52,587,854
10,681
2,365,635

T o ta l

.

Importations and Warehouse Withdrawals of Dry Goods

Total im p o r t s .................. .12,325

----------1907-------------------1906---------S in ce
S in ce
N ew Y o r k to A p r il 20.
W eek .
J a n . 1.
W eek .
J a n . 1.
G rea t B r i t a i n ___________________________
8
834
2
373
O th e r E u ro p e a n ________________________
4
246
6
571
C h in a ..................................................................
........ 6,923
__________
4 0 ,5 9 6
In d ia ................................................................
150 4,1 7 3
__________
3,730
A r a b i a .................. ...................................................... ..
16,223
2 ,9 1 7
12,911
A f r i c a ............................ ................ ...................
4
3,295
442
3 ,5 5 5
W e s t I n d i e s ........ ................... .......................
407
7 ,9 9 8
236
7,399
M e x i c o ..............................................................
17
763
28
679
C en tral A m e r ic a .............................................
360
5,2 5 2
300
5 119
S o u th A m e r i c a ..............................................
919
16,571
661
19,164
O th er c o u n t r ie s ........................ ...................
705
12,665
195
4.611

l x x x iv

There have been reports of some inquiries coming;
to the market for heavy brown cottons for China r
but they have failed to find expression in the shape o f
actual business, and export grades of both brown sheetings
and drills continue irregularly in favor of buyers. Weights
desirable for home consumption are still scarce and firm for
near deliveries, with some sellers willing to consider bids for
more distant positions at prices below current quotations.
In print-cloth yarn goods this feature is quite noticeable, but
both regular print cloths and other constructions are very
firm for spots and for deliveries over the summer; regulars
are quoted unchanged at 43^c. Business in prints has again
been liberal in comparison with the supplies available, with
sellers careful in taking forward orders. The printed fab­
rics also are easier to sell than to buy. Ginghams in all
grades are strong, with some of the lower-priced dress ging­
hams advanced about 5% . As noted last week, bleached
muslins are nearly all held at value, and on that condition
orders are coming forward quite freely. Fine grades are not
obtainable at first hands in any quantity, and many lower
qualities have worked into a like position. The market for
napped and coarse, colored cottons has not presented any
new feature of importance, conditions being against buyers
and current business moderate. Linings and other converted
goods are in steady request at firm prices.
WOOLEN GOODS.— A slight improvement is reported
this week in the orders coming to handfor men’s wear woolen
and worsted trouserings and suitings; but the increase has
again failed to satisfy sellers’ expectations. Most of the
business coming forward is in the medium grades of woolen
goods. These are as a rule well sold in qualities up to $1 50
per yard, and an occasional agent is so well placed that some
advance in price is probable in the near future. The indi­
cations of greater favor towards worsted fabrics, recently
no1 ed, have hardly been forthcoming this week, the re-orders
beiLg of quite moderate extent. Sellers are evidently mak­
ing progress with their spring lines for next year, but as
yet few samples have been put out in the market. When
samples are fully shown, all wool fancies will, it is expected,,
again figure \rominently. Re-orders for overcoatings have
been indifferent again, and this division of the market con­
tinues unsatisfactory. In woolen and worsted dress goods
business has reached fully average proportions, voiles,
panamas and broadcloths being in best request.
FOREIGN D R Y GOODS.— Imported woolen and worsted
dress goods and men’s wear fabrics have passed through a
quiet week without special feature. Silks and ribbons are
firm, with a fair demand. Linens continue very strong
for both immediate and more distant delivery. Burlaps are
still tending upwards, with demand in excess of supply.

Total
Entered

N e w Y o r k , F r i d a y N i g h t , A p r i l 26 1907.
A change in the weather to more seasonable conditions has
helped local trade somewhat, but reports from the interior
indicate that distribution is still held in check to some ex­
tent by low temperature. The general demand at first
hands has ruled moderate, but still sufficient to disclose how
clearly the market keeps sold up in the great majority of
lines. Jobbers and the cutting-up trade, in their endeavor
to secure prompt deliveries of some descriptions of cotton
goods, have gone over the border to Canada, but have found
conditions there much as here, supplies available for quick
shipments practically n il. Last week it was stated that some
irregularity existed in the division of the market most suscep­
tible to the influence of the export trade; this irregularity
is still apparent and the tone in cotton yarns is as easy this
week as last. It has been noticeable that manufacturers
in some directions are willing to book orders for the more
distant deliveries at a considerable discount from prices
current for spot or near positions, particularly in goods
for converting purposes; but there is no evidence of weak­
ness in finished fabrics or any delivery for which buyers are
desirous of placing orders. Conditions outside of the actual
market, such as the course of raw material, the financial
situation, &c., play little part in current business; nor does
it seem likely that they will become active factors for some
time to come, or while the present scarcity of supplies con­
tinues. The woolen goods division shows few of the charac­
teristics distinguishing cotton goods, and in this buyers
have no difficulty in securing needful supplies.
DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending April 20 were 2,574
packages, valued at $193,186, their destination being to the
points specified in the table below:

[V o l .

A p r.

S

THE CHRONICLE.

27 19.07. j

tate

anb

C

it y

B £ f * f lT M £ N T .

News Items.
Cleveland, Ohio.— Future Bond Issues Must Be Authorized
by Vote.— The State Supreme Court on April 16 sustained
the ruling first made by Judge Phillips and later upheld by
the Circuit Court that the city had reached the limit of bonds
which could be put out under the Longworth Act (Sections
2835, 2835b, 2836 and 2837 of Revised Statutes) without
first being authorized by a vote of the people. Improve­
ments to be made hereafter can be provided for only by
bond issues which have been sanctioned by the people, the
law specifying that two-thirds majority is necessary to au­
thorize. Local papers state that some of the bonds which
were to have been put on the market are as follows: General
sewers, $275,000; intercepting sewers, $275,000; new market
house, $100,000; new city-hall, $250,000; parks, $275,000;
new workhouse, $175,000; tuberculosis and contagious dis­
ease hospital at Warrensville, $143,000; two new fire-engine
houses, $40,000; street-openings, $20,000; new appliances
at garbage plant, $20,000, and boy’s farm at Hudson, $10,000. In addition to these securities, upwards of ten million
dollars of bonds are contemplated for rebuilding the Central
Viaduct, for bridge building, for improvements on the lake
front and for the abolition of grade-crossings.
Connecticut.— House Passes Bill Regarding Savings De­
posits in Banks and Trust Companies.— The House has passed
the bill regulating the investment of savings deposits of banks
and trust companies which maintain a savings department.
The text of this bill was given in full in V. 84, p. 949.
Maine.— Amendments to Savings Bank Law.— The Legis­
lature of 1907 made numerous changes in the savings bank
investment law by an Act approved by the Governor March
18. The law as it now stands is given below, that portion
of the old law omitted being indicated by brackets, while
the new portion is italicized.
S E C T IO N 23. S a v in g s b a n k s a n d in s titu tio n s fo r sa v in gs are r e s tric te d
t o an d h erea fter m a y In v est th eir d e p o s its as fo llo w s :
First, a. In th e p u b lic fu n d s o f th e U n ite d S ta te s a n d D is tr ic t o f C o lu m b ia .
b. In th e p u b lic fu n d s o f a n y o f th e N e w E n g la n d S tates an d o f th e S tates
o f N ew Y o r k , P e n n s y lv a n ia , M a r y la n d , O h io , I n d ia n a , K e n t u c k y , M ich ig a n ,
W is c o n s in , M in n e s o ta , I o w a , iilln o is , M issou ri, K an sas [and] N e b r a s k a ,
C a lifo r n ia , O regon and W a shington.
Second, a. In th e b o n d s o f th e c o u n t ie s , citie s a n d to w n s o l a n y o f th e
N e w E n g la n d S ta tes.
b. In th e b o n d s o f c itie s a n d d is tricts in th e S ta te s o f N e w Y o r k , P e n n ­
s y lv a n ia , M a ry la n d , O h io , In d ia n a , K e n t u c k y , M ich ig a n . W is c o n s in , M in ­
n e s o t a , I o w a , Illin o is, M issouri, K an sas [and] N e b r a s k a , C a lifo r n ia , O regon
and W ash in gton , h a v in g a p o p u la t io n o f s e v e n ty -fiv e th o u s a n d o r m o r e ,
w h e n issu ed fo r m u n icip a l p u rp o s e s , a n d w h ic h are a d ir e ct o b lig a t io n on
a ll th e ta x a b le p r o p e r t y th e re in .
c. In th e b o n d s o f c o u n tie s o f t w e n ty th o u s a n d In h a b ita n ts o r m o re in
th e S ta tes o f N ew Y o r k , P e n n s y lv a n ia , M a ry la n d , O h io , I n d ia n a , K e n t u c k y ,
M ic h ig a n , W isc o n s in , M in n e so ta . I o w a , Illin o is, M issou ri, K an sas [and)
N e b r a s k a , C a lifo r n ia . O regon and W ash in gton , w h e n issu ed fo r m u n icip a l
p u r p o se s, a n d w h ic h are a d ir e ct o b lig a tio n o n all th e t a x a b le p r o p e r t y
th erein e x c e p t w h en issu ed In a id o f ra ilro a d s, p r o v id e d th a t th e n e t m u n ic i­
p a l in d e b te d n e s s o f su ch c o u n t y d o e s n o t e x c e e d 5 % o f th e la st p r e c e d in g
v a lu a t io n o f th e p r o p e r t y th e re in fo r th e assessm ent o f t a x e s .
d. In th e b o n d s o f a n y c it y o f te n th o u s a n d In h a b ita n ts o r m o re in th e
S ta tes o f N ew Y o r k , P e n n s y lv a n ia , M a r y la n d , O h io , In d ia n a , K e n t u c k y ,
M ic h ig a n , W isc o n s in , M in n e s o ta , I o w a , Illin o is, M issouri, K a n sa s [and]
N e b r a s k a , C a lifo r n ia , O regon and W ash in g ton , w h en Issued fo r m u n icip a l
p u r p o s e s , a n d w h ic h are a d ir e ct o b lig a tio n on all th e ta x a b le p r o p e r t y
th erein e x c e p t w h en Issued in a id o f ra ilro a d s, p r o v id e d th a t th e n e t m u n ic i­
p a l in d e b te d n e s s o f su ch c it y d o e s n o t e x c e e d 5 % o f th e last p r e c e d in g
v a lu a tio n o f th e p r o p e r t y th erein fo r th e assessm en t o f t a x e s .
e. In th e r e fu n d in g b o n d s o f c o u n tie s a n d c itie s a b o v e e n u m e ra te d issu ed
t o ta k e u p a t m a tu r ity b o n d s w h ic h w e re legal a n d c o n s titu tio n a l w h e n
Issued, p r o v id e d th a t th e Interest has b e e n fu lly p a id on su ch o rig in a l b o n d s
fo r a t lea st five yea rs last p rio r t o su ch r e fu n d in g : p r o v id e d , fu r th e r, th a t
s u ch c o u n tie s a n d citie s c a n o th e rw is e m e e t th e fo r e g o in g c o n d itio n s .
f . In th e b o n d s a n d o b lig a tio n s o f s c h o o l d is tric t b o a r d s , b o a r d s o f e d u ­
c a t io n a n d o th e r c o r p o r a te b o d ie s w ith in su ch c itie s , a u th o r iz e d t o Issue
b o n d s p a y a b le p r im a rily fr o m ta x e s le v ie d on all th e t a x a b le p r o p e r t y In
sa id d is tric t; p r o v id e d th a t th e p o p u la t io n o f th e d is t r ic t is te n th o u s a n d o r
m o r e , a n d th e p o p u la t io n an d assessed v a lu a tio n o f th e d is tric t are e q u a l t o
a t lea st 90 % o f th e p o p u la tio n an d th e assessed v a lu a tio n o f th e c it y w ith in
w h ic h s u ch d is tric t is lo c a te d ; p r o v id e d , fu r th e r, th a t th e n e t m u n icip a l
in d e b te d n e s s o f su ch d is tric t d o e s n o t e x c e e d 5 % o f th e last p r e c e d in g
v a lu a tio n o f th e p r o p e r t y th erein fo r th e assessm en t o f t a x e s .
g. In th e b o n d s o r o b lig a tio n s o f a n y m u n icip a l o r q u a si-m u n icip a l c o r ­
p o r a t io n o f this S ta te , w h en su ch se cu ritie s are a d ir e c t o b lig a tio n o n all
th e ta x a b le p r o p e r t y o f said c o r p o r a t io n .
Third, a . In th e railro a d b o n d s o f th is S ta te .
b. In th e first m o r tg a g e b o n d s o f a n y c o m p le t e d ra ilro a d s o f tjie S ta te s
o f N ew H a m p s h ire , V e r m o n t , M a ssa ch u se tts, R h o d e Isla n d , C o n n e c tic u t,
N ew Y o r k , N ew J e r s e y , P e n n s y lv a n ia , M a r y la n d , O h io , In d ia n a , K e n ­
t u c k y , M ich ig a n , W isc o n s in , M in n e s o ta , I o w a , Illin o is, M issou ri, K an sas
a n d N eb ra s k a .
c. In th e first m o r tg a g e b o n d s o f th e C en tral P a c ific , U n io n P a cific an d
N o rth e r n P a cific ra ilro a d s .
d. In th e m o r tg a g e b o n d s o f a n y r a ilro a d leased t o a n y d iv id e n d -p a y in g
ra ilro a d In N ew E n g la n d u p o n te rm s g u a ra n te e in g th e p a y m e n t o f a re g u la r
s t a te d d iv id e n d u p o n th e s t o c k o f su ch le a se d ro a d a n d th e in te re s t o n Its
bon d s.
e. S tre e t railroa d c o m p a n ie s are n o t r a ilro a d c o m p a n ie s w ith in th e m e a n ­
in g o f th e fo r e g o in g cla u ses o f th is s e c tio n .
f. In th e b o n d s o f stre e t ra ilro a d s c o n s tr u c te d in th is S ta te p r io r t o
A p ril 27 1895, an d In b o n d s o f stre e t r a ilro a d s In th is S ta te c o n s t r u c te d
a fte r said d a t e , an d In th e first m o r tg a g e b o n d s o f a n y c o m p le t e d s tre e t
ra ilro a d In th e S tates o f N e w H a m p s h ire , V e r m o n t , M a ssa ch u se tts, R h o d e
Is la n d , C o n n e c tic u t, N ew Y o r k , N ew J e r s e y , P e n n s y lv a n ia . M a r y la n d ,
O h io , I n d ia n a , K e n t u c k y , M ich ig a n , W is c o n s in , M in n e so ta , I o w a , Illin o is,
M issou ri, K a n sa s a n d N eb ra sk a ; p r o v id e d th a t in th e case o f s tre e t ra ilro a d s
c o n s t r u c te d In th is S ta te a fte r A p ril 27 1895, a n d in th e case o f stre e t rail­
ro a d s In th e S tates a b o v e n a m e d , an a m o u n t o f c a p ita l s t o c k e q u a l t o
33 1 - 3 % o f th e m o r tg a g e d d e b t shall h a v e b e e n p a id In, In c a s h , an d e x ­
p e n d e d u p o n th e r o a d , e v id e n c e d b y a c e r tific a te o f th e R a ilr o a d C o m m is ­
sion ers o f th e S ta te w h ere th e r o a d is lo c a te d , filed In th e o ffic e o f th e S e c r e ­
ta r y o f S ta te o f th is S ta te , th a t said p e r c e n ta g e has be e n so p a id In and
e x p e n d e d In a d d itio n t o th e a m o u n t o f th e b o n d e d d e b t : p r o v id e d , fu r th e r,
th a t in su ch o f th e a b o v e S ta te s as h a v e n o railro a d c o m m issio n e rs h a v in g
su p e r v is io n o f street railroad s th e b a n k e x a m in e r o f th is S ta te m a y asce rta in
t h e fa c ts an d If th e y m e e t th e fo re g o in g re q u ire m e n t m a y file c e r tific a te
th e r e o f w ith th e S e c r e ta r y o f S ta te : provided, fu rth er, that w h en , fo r a n y
rea son , it is Im possible to obtain a certifica te that a n am ount o f ca p ita l stock
equal to one-th ird o f the bonded debt has been paid i n ,i n c a s h ,in lieu th ereof,
such bonds m av be certified a s legal fo r the pu rp o se h ereof, on sa tisfa ctory p ro o f
to the bank exa m in er that a n n u a l dividends In am ount equal to fiv e p er centum
per a n n u m on an am ount o f ca p ita l stock equal to one-th ird o f the bonded debt
has been earned and paid fo r a period o f fiv e yea rs n ext p rio r thereto; a n d all
th e e x p en ses a n d co m p e n s a tio n o f th e b a n k e x a m in e r fo r su ch s e r v ic e shall
b e p a id b y th e r a ilroa d c o m p a n y seek in g t o m a k e its b o n d s a le ga l in v e s t ­
m e n t u n d er th is s e c tio n , w h e th e r th e sa m e are a d m it te d o r n o t .
N o bonds




VS

1009
___

7L

securcd by an o p en m ortgage shall be legalAinder
this section unless the m ortgage
I
provid es that the total am ount o f bonds certified and outstanding u nd er it shall
at n o tim e exceed seven ty -five p er cent o f the am ount o f cash expen d ed u p on
the road.
g. I n consolidated or refu n d in g bonds w hich a re o f an issu e to retire the
entire fu nded debt u nd er the con d ition s as a p p lied to fir s t m ortgage bonds in
clauses b, c and f o f this sub d ivisio n , and w hich are secured by a fir s t m ortgage
on the w hole or a n y part o f the system .
F o u rth . In th e m o r tg a g e b o n d s o f a n y w a te r c o m p a n y in th e N e w E n g ­
la n d S tates a c t u a lly e n g a g e d in s u p p ly in g a n y c it y o r citie s , to w n o r to w n s,
v illa g e o r v illa g e s , o r o th e r m u n ic ip a l c o r p o r a t io n s , w ith w a te r fo r d o m e s tic
use a n d fo r th e e x tin g u is h m e n t o f fires, w h e n e v e r su ch c o m p a n y is e a rn in g
m o re th a n its fix e d ch a rg e s find in te re st o n its d e b ts a n d its r u n n in g ex p en ses.
F ifth . I n b o n d s o f a n y c o r p o r a t io n o th e r th a n r a ilro a d s a n d w a te r c o m •panies in c o rp o ra te d u n d e r th e a u t h o r it y o f th is S ta te a n d a c tu a lly c o n d u c t ­
in g in th is S ta te th e business fo r w h ic h such c o r p o r a t io n w a s c r e a t e d , w h ic h
are e a rn in g a n d are p a y in g a regu la r d iv id e n d o f n o t less th a n 5 % a y e a r . •
S ix th , a. I n th e s t o c k o f a n y b a n k o r b a n k in g a s s o c ia tio n in c o r p o r a te d
u n d e r th e a u th o r ity o f th e S ta te .
b. In th e s t o c k o f a n y b a n k o r b a n k in g a s s o c ia tio n in c o r p o r a te d u n d e r
th e a u th o r ity o f th e U n ite d S ta te s, i f lo c a te d w ith in th e N e w E n g la n d S ta te s .
c. In th e s t o c k o f a n y ra ilro a d c o m p a n y o f th is S ta te u n e n cu m b e re d b y
m o r tg a g e .
d. [In th e s t o c k o f a n y d iv id e n d -p a y in g r a ilro a d in N e w E n g la n d .)
I n the bonds, stock or notes o f a n y railroad in N ew E n gla n d w hich has earned
and paid a n a n n u a l dividend equivalent to fiv e p er cent on a ca p ita l stock equal
to one-third o f its funded debt fo r a period o f ten years n ex t p rio r thereto, and
in the stock or notes o f the N ew Y o rk C en tra l & H u d so n R iv er, the Illin o is
C en tral, the L a k e Sh ore & M ic h ig a n S ou thern and the P e n n sy lv a n ia R ailroad
c o m p a n ies.
e. In th e s t o c k o f a n y ra ilro a d lea sed t o a n y d iv id e n d -p a y in g r a ilro a d In
N e w E n g la n d u p o n te rm s gu a ra n te e in g th e p a y m e n t o f a regu la r s ta te d
d iv id e n d u p o n th e s t o c k o f su ch leased r o a d a n d th e in te re st o n its b o n d s.
f . In th e s t o c k o f a n y c o r p o r a tio n o th e r th a n ra ilro a d a n d w a te r c o m ­
p a n ie s, in c o r p o r a te d u n d e r a u t h o r it y o f th is S ta te , a n d a c t u a lly c o n d u c t in g
In th is S ta te th e b u s in e s s -fo r w h ich su ch c o r p o r a t io n w a s c r e a t e d , w h ic h
earn s a n d is p a y in g a re g u la r d iv id e n d o f n o t less th a n 5 % a y e a r .
Seventh, a . In loa n s se cu re d b y first m o r tg a g e s o f real e sta te in th is S ta te
a n d N e w H a m p sh ire t o a n a m o u n t n o t e x c e e d in g 60 % o f th e v a lu e o f su ch
rea l e s ta te .
• •
b. In n o te s w ith a p le d g e as c o lla te r a l o f a n y [p u b lic fu n d s o r b o n d s o f
a n y k in d o r o f a n y stock s] fu n d s, bonds, notes o r stocks w h ic h th e b a n k o r
In s titu tio n w o u ld , b y th is s e c tio n , be a u th o r iz e d t o p u rch a s e : provided the
m arket value o f said collateral is equal to the am ount o f the loan.
c. In n o te s w ith a p le d g e as c o lla te r a l o f a n y s a v in g s b a n k d e p o s it b o o k
issu ed b y a n y sa v in gs b a n k in th is S ta te .
d. In n o te s w ith a p le d g e as co lla te r a l [o f th e s to c k o f a n y r a ilr o a d o r
railro a d s m e n tio n e d in th is se ctio n ] o f such fu n d s, bond s, notes or stocks as
In the ju d gm en t o f the trustees it is safe and fo r the in terest o f the bank to accep t,
t o an a m o u n t n o t e x c e e d in g 75 % o f th e m a r k e t v a lu e o f su ch [stock ] fu n d s,
bond s, notes or stocks.
e . In loan s t o a n y m u n ic ip a l c o r p o r a t io n in th is S ta te .
f . In loa n s se cu re d b y a m o r tg a g e o f su ch p e rso n a l p r o p e r t y as in th e
ju d g m e n t o f th e tru stees lt is safe an d fo r th e in te re s t o f th e b a n k t o a c c e p t .
g . In loa n s t o a n y c o r p o r a tio n o w n in g real e sta te In th is S ta te a n d a c tu a lly
c o n d u c t in g in th is S ta te th e b u sin ess fo r w h ic h su ch c o r p o r a t io n w a s c r e a te d .
Eighth, a . T h e te rm “ n e t m u n ic ip a l in d e b te d n e s s o f c o u n t ie s ” as used in
th is s e c tio n shall b e co n s tr u e d t o in c lu d e all b o n d s w h ic h are a d ir e c t
o b lig a tio n o f th e c o u n t y less th e a m o u n t o f a n y sin k in g fu n d a v a ila b le in
th e r e d u c t io n o f s u ch d e b t.
b. T h e term “ n e t m u n icip a l in d e b te d n e s s o f c itie s a n d d is t r ic t s ,” as u sed
in th is s e c tio n , shall b e c o n s tr u e d t o in c lu d e in th e case o f e ith e r n o t o n ly
all b o n d s w h ic h are a d ir e ct o b lig a tio n o f th e c it ie s , b u t also all b o n d s o f
th e d is tric ts o r b o a rd s w ith in th e sa m e , as a b o v e e n u m e r a te d , e x c lu s iv e o f
a n y su ch d e b t c r e a te d fo r a w a te r s u p p ly a n d o f th e a m o u n t o f a n y sin k in g
fu n d a v a ila b le In re d u c tio n o f such d e b t .
c. T h e n u m b e r o f in h a b ita n ts o f c itie s a n d c o u n tie s sh all b e d e te r m in e d
b y th e la st p re v io u s o ffic ia l ce n su s th e r e o f, as e s ta b lish e d b y th e last
U n ite d S ta te s o r S ta te census o r c it y o r c o u n t y cen su s ta k e n In th e sam e
m a n n e r as U n ite d S tates o r S ta te census a n d d u ly c e r tifie d t o b y th e clerk
o r treasu rer o f such c it y o r th e a u d it o r o r tre a su re r ojT s u ch c o u n t y .
N in th . A ll In v e stm e n ts shall b e c h a rg e d a n d e n te r e d o n th e b o o k s o f th e
b a n k a t th e ir c o s t t o th e b a n k o r a t p a r w h e n a p r e m iu m is p a id .
S E C T IO N 24. A n y su ch b a n k o r In stitu tio n m a y h o ld real esta te in
th e c it y o r to w n in w h ich su ch b a n k o r in s titu tio n is lo c a te d t o an a m o u n t
n o t e x c e e d in g 5 % o f its d e p o s its o r t o a n a m o u n t n o t e x c e e d in g its reserve
fu n d .
S E C T IO N 25. N o such b a n k o r in s titu tio n shall h o ld b y w a y o f I n v e s t­
m e n t, o r as s e c u r ity fo r lo a n s , o r b o t h , m o r e th a n o n e -flfth o f th e c a p ita l
s t o c k o f a n y c o r p o r a t io n , n o r in v e s t m o r e th a n 1 0 % o f its d e p o s it s , n o t
e x c e e d in g s ix ty th o u s a n d d o lla rs , in th e c a p ita l s t o c k o r n o te s o f a n y c o r ­
p o r a t io n , n o r h a v e m o re th a n 50 % o f its d e p o s its in m o r tg a g e s o f r e a l'e s t a t e .
T h is s e c tio n a n d th e t w o p r e c e d in g d o n o t a p p ly t o real e s ta te , o r o th e r
assets, a c q u ir e d b y th e fo re c lo s u r e o f a m o r tg a g e th e r e o n , o r u p o n ju d g m e n t
fo r d e b t s , o r In s e ttle m e n ts t o se cu re d e b ts . T h is section does not a p p ly to bonds
enum erated in the fir s t fiv e su b-d ivision s o f section tw enty three o f this chapter.
S E C T IO N 26. .Savings ba n k s an d in s titu tio n s fo r s a v in g s m a y d e p o s it on
ca ll in b a n k s o r b a n k in g as s o cia tio n s in c o rp o ra te d u n d e r th e a u t h o r it y o f th is
S ta te , o r th e la w s o f th e U n ite d S ta te s , a n d r e c e iv e in te re s t fo r th e sam e.
S E C T IO N 27. T h e tru stees shall see t o th e p r o p e r I n v e s tm e n t o f d e p o s its
a n d fu n d s o f th e c o r p o r a t io n In th e m a n n e r h e r e in b e fo re p r e s c r ib e d .
No
lo a n shall b e m a d e d ir e c t ly o r in d ir e c t ly t o a n y o ffic e r o f th e c o r p o r a t io n
o r t o a n y firm o f w h ic h such o ffic e r Is a m e m b e r .

Minnesota.— Legislature Adjourns.— The Legislature of
this State adjourned April 24.
New York City.— Estimated Cost of Improvements.— Chief
Engineer Lewis recently submitted to the Board of Estimate
and Apportionment an estimate of the cost of improvements
already authorized by the Board or now pending, or of which
the Board has knowledge, or for which it will be called upon
to provide before Jan. 1 1910. These improvements contem­
plate an expenditure of nearly 200 millions of dollars. The
estimates follow:
S u b w a y lo o p , M a n h a t­
ta n s e c t io n ___________
$ 5 ,0 0 0 ,0 0 0
S u b w a y lo o p , B r o o k ly n
s e c t io n ________________
1 0 ,0 0 0 ,0 0 0
R a p id tran sit lin e , M an ­
3 5 ,0 0 0 ,0 0 0
h a tta n an d th e B ro n x
8 ,0 0 0 ,0 0 0
P ip e galleries in s a m e ..
R a p id tra n s it lin e t o
1 5 ,0 0 0 ,0 0 0
C o n e y I s la n d ________
R e c o n s t r u c t io n o fB r o o k 3 ,2 5 0 ,0 0 0
ly n B rid g e T e r m in a l.
O ffic e b ld g . at M an h a t­
3 ,5 0 0 ,0 0 0
tan e n d o f B k ly n B rid ge
L a n d fo r stru ctu ra l a p ­
p ro a ch e s t o M a n h a t­
ta n B r i d g e ___________
6 ,000,000
L a n d fo r M a n h a tta n apro a ch t o B la c k w e ll’ s
3 ,0 0 0 ,0 0 0
sland B r id g e ________
C o n s tr’n o f a p p ro a ch e s
t o M an h . an d B la c k ­
4 ,7 0 0 ,0 0 0
w e ll's Isla n d b r id g e s .
H u d so n M em orial B d g e .
3 ,0 0 0 ,0 0 0
C it y ’ s share o f v ia d u c ts
across G ra n d Central
600 ,000
y a r d ..................................
R e p a v in g
stre e ts,
all
8 , 000 ,0 0 0
b o r o u g h s ____________
3,0 0 0 ,0 0 0
R e lie f se w e rs......................
1 2 , 000 ,0 0 0
W a te r -fr o n t lm p ’ t s ____
2 0 ,000 ,0 0 0
S ch o o l b ld g s . and s ite s .

?

P o lice and fire-engine
h o u s e s ...........................
B k ly n . M u n icipa l B ld g .
|B e lle vu e H o s p it a l______
P a rk c o n s t ’n , all b o r o 's .
i M e tro p o lita n M u s e u m ..
Z o o lo g ica l S o c ie t y ______
D e p a rtm e n t o f H ealth .
D e p a rtm e n t o f C harities
D e p a r tm ’ t o f C o rrection
E x te n sio n o f R iv e r s id e
D riv e t o H arlem R iv e r
L a n d re q u ire d fo r R iv e r ­
side D riv e e x t e n s io n .
P a rk b e tw e e n R iv e r s id e
D riv e an d H u d . R iv e r
O w l’ s H e a d P a r k _______
Seaside P a rk a t R o c k a w a y __________________
S tre e t an d P a rk O p e n ­
in g F u n d _____________
A ssessm ’t b o n d s t o m e e t
c o s t o f la n d im p ’ ts
a b o v e r e ce ip ts fro m
a s s e s s m e n t s __________
C o m p le tio n o f P u b lic
L ib r a r y _______________
M argin t o b e allo w e d
w ith in d e b t lim it ____
T ota l

4 .0 0 0 .0 0 0
1 .5 0 0 .0 0 0
1 .6 0 0 .0 0 0
1 .5 0 0 .0 0 0
1.5 0 0 .0 0 0
250 .000

2.000.000
50 0 .0 0 0
25 0 .0 0 0

5 ,0 0 0 ,0 0 0
1 ,5 0 0 ,0 0 0
3 .5 0 0 ,0 0 0

2,000,000
1 ,5 0 0 ,0 0 0
1 5 ,0 0 0 ,0 0 0

5 .0 0 0 .0 0 0
3 .0 0 0 .0 0 0
1 0 , 0 0 0 ,0 0 0

.............................$ 1 9 9 ,6 5 0 ,0 0 0

Pittsburgh-Allegheny, Pa.— Hearing on consolidation case
Postponed until Fall.— The United States Supreme Court on
April 22 denied the motion to dismiss the writ of error recently
allowed in the suit brought by ex-Govemor William A. Stone

1010

THE CHRONICLE

and others to prevent the consolidation of the cities of Pitts­
burgh and Allegheny. The case was set for argument on
Oct. 14. See V. 84, p. 763 and 644.
Rhode Island.— Legislature Adjourns.— The General As­
sembly of this State adjourned April 23.
Tennessee.— Legislature Adjourns.— The Legislature of
this State adjourned April 16 1907.

Bond Calls and Redemptions.
Abington Township, Pa.— Bond Call.— Call is made for
•payment May 1 at the Jenkintown National Bank in Jenkintown, Pa., of bonds Nos. 424 to 435 inclusive of the loan of
1904. Denomination $500.
Altoona, Pa .—Bond Call.— The following bonds have been
called for payment July 1 at the City Treasurer’s office:
C ity I m p r o v e m e n t b o n d s o f 1 89 5. N o s . 1 3 , 2 0 , 23, 26, 2 7 ,
6 7 , 7 0 , 8 2 , 88, 9 2 , 102 , 103, 107 , 109 , 131 , 139 , 14 8 , 14 9 ,
1 6 6 , 16 9 , 171 , 183 , 18 9 , 20 2 , 204 , 209 , 212 , 213 , 222 , 22 9 ,
2 5 5 , 264 an d 280.
W a t e r b o n d s o f 189 4, N o s . 2, 3, 1 1 , 12, 1 5 , 1 6 , 1 8 , 23, 2 4 ,
3 5, 36, 37, 38, 4 0 ; 4 1 , 4 3 , 5 1 , 5 2 , 5 6 , 61, 62, 63, 7 1 , 7 3 , 7 4 ,
8 8 , 9 0 , 9 2 , 9 6 , 103 , 104 , 105 , 10 6 , 109 , 11 0 , 112 , 11 3 , 115 ,
1 25 , 126 , 127 , 130 , 133 , 139 , 141 , 144 , 1 5 0 , 156 , 159 , 165 ,
170 , 171 , 172 , 177 , 178 , 181 , 183 , 185 , 197, 201 , 202 , 20 4 ,
210 , 21 3 , 21 4 , 215 , 2 1 7 , 219 a n d 220.

36, 4 8 , 51, 55,
1 5 1 , 156 , 161 ,
2 3 3 , 23 6 , 2 5 0 ,
2 5 , 27, 3 1 , 34,
78, 79, 83, 84,
116 , 119 , 122 ,
167 , 16 8 , 169 ,
206 , 2 0 7 , 20 9 ,

Bolckow School District No. 55 (P. O. Bolckow), Andrew
County, Mo.— Bond Call.— Bond No. 5, for $500, bearing
6% interest and dated April 1 1894, was called for payment
April 10 at the Merchants’ Laclede National Bank in St.
Louis.
Cape Girardeau Township, Cape Girardeau County, M o.—
— Bond Call.— Call was made for payment April 2 at the
Mississippi Valley Trust Co. in St. Louis of 43^% bonds Nos.
16 and 17. Denomination $1,000. Date April 2 1900.
Carthage, Jasper County, Mo.— Bond Call.— Payment will
be made May 10 at the City Treasurer’s office or at the Cen­
tral National Bank in Carthage of $2,000 4% bonds dated
May 10 1900 and numbered 12 to 15, inclusive. Denomina­
tion $500.
Carthage School District, Jasper County, M o.—Bond Call.
—Call was made for payment April 1 at the National Bank of
Commerce in St. Louis of 4% bonds numbered 11 to 20 in­
clusive and dated April 1899. Denomination $500.
Clinton School District, Henry County, M o.— Bond Call.—
— On May 1 payment will be made at the Citizens’ Bank of
Clinton of $1,000 5% bonds dated May 1 1897 and numbered
11 and 12. Denomination $500.
Dade County (P. O. Greenfield), M o.— Bond Call.— Bonds
numbered 101 to 107, inclusive, and 138 to 184, inclusive,
for $500 each, were called for payment April 1 at the Mer­
chants’ Laclede National Bank in St. Louis. Securities are
dated June 1 1894 and bear 5% interest.
Denver, Col.— Tenders of Bonds Requested.— Tenders will
be received until 12 m. April 30 by Chas. F. Wilson, City
Auditor, for the sale to the city of $40,000 funding bonds.
Series of 1905.
Bond Call.— W. J. Fine, City Treasurer, calls the fol­
lowing bnods for payment April 30:
STO R M SE W E R JB O N D S.
C a p ito l H ill S to r m S ew er D is t. N o . 1, b o n d s N o s . 400 t o 550 In clu s iv e .
S u b -D is t. N o . 5 o f th e C a p ito l H ill S to rm S ew er D is t. N o . 1, b o n d s N o s .
9 an d 10.
S u b -D is t. N o . 8 o f th e C a p ito l H ill S to r m S ew er D is t. N o . 1, b o n d N o . 9.
S u b -D is t. N o . 10 o f th e C a p ito l H ill S to r m S ew er D is t. N o . 1, b o n d N o . 13.
S u b -D is t . N o . 12 o f th e C a p ito l H ill S to rm S ew er D is t. N o . 1, b o n d N o . 3
S u b -D is t. N o . 20 o f th e C a p ito l H ill S to r m S ew er D is t. N o . 1, b o n d s
N o s . 31 an d 32.
S u b -D is t. N o . 21 o f th e C a p ito l H ill S to rm S ew er D is t . N o . 1, b o n d s
N o s . 14 t o 23 in c lu siv e .
S o u th C a p ito l H ill S to rm S ew er D is t ., b o n d s N o s . 1 t o 3 in c lu s iv e .
S A N IT A R Y S E W E R B O N D S.
N o rth D e n v e r S a n ita r y S ew er D is t. N o . 4, b o n d N o . 17.
N o rth D e n v e r S a n ita ry S ew er D is t. N o . 5, b o n d N o . 14.
S ID E W A L K B O N D S.
C a p ito l H ill S id ew a lk D is t. N o . 1, b o n d N o . 19.
M o u n t V ie w S id ew a lk D is t. N o . 1, b o n d N o . 4 .
S id ew a lk D is t. N o . 8 , b o n d s N o s . 17 a n d 18.
S o u th B r o a d w a y S id e w a lk D ist. N o . 1, b o n d s N o s . 20 a n d 21
S ou th B r o a d w a y S id e w a lk D is t. N o . 2 , b o n d N o . 13.
IM P R O V E M E N T B O N D S .
A sh S treet Im p r o v e m e n t D is t. N o . 1, b o n d s N o s . 1 t o 3 in c lu s iv e .
C a p ito l H ill I m p r o v e m e n t D is t. N o . 1, b o n d s N o s . 110 t o 115 in c lu s iv e
C a p ito l H ill I m p r o v e m e n t D is t. N o . 2, b o n d s N o s . 73 t o 76 in c lu s iv e .
C a p itol H ill Im p r o v e m e n t D ist. N o . 3, b o n d s N o s . 71 t o 79 In clu siv e .
E a st C a p ito l H ill Im p r o v e m e n t D is t. N o . 1, b o n d s N o s . 43 a n d 44.
E a st C o lfa x A v e n u e I m p r o v e m e n t D is t. N o . 1, b o n d s N o s . 18 an d 19.
G ra n t A v e n u e Im p r o v e m e n t D is t. N o . 1. b o n d s N o s. 42 a n d 4 3 .
H ig h la n d s I m p r o v e m e n t D is t. N o . 1, b o n d s N o s . 21 t o 23 In c lu s iv e .
L og a n A v e n u e I m p r o v e m e n t D is t. N o . 1, b o n d N o . 32.
M o u n t V iew Im p r o v e m e n t D is t. N o . 1, b o n d N o . 21.
O gd en S treet Im p r o v e m e n t D ist. N o . 1, b o n d N o . 9.
S ou th B r o a d w a y I m p r o v e m e n t D is t. N o . 1, b o n d s N o s . 47 and 4 8 .
S ou th 14th S treet I m p r o v e m e n t D ist. N o . 1. b o n d N o . 16.
P A V IN G B O N D S.
A lle y P a v in g D is t. N o . 3, b o n d N o . 16.
A lle y P a v in g D is t. N o . 4 . b o n d N o . 10.
A lle y P a v in g D is t. N o . 5 , b o n d s N o s . 1 t o 5 in c lu s iv e .
C h a m p a S treet P a v in g D is t. N o . 1, b o n d s N o s . 64 t o 66 In clu siv e .
G ra n t, L o g a n a n d 7 th A v e n u e s P a v in g D is t. N o . 1, b o n d s N o s . 20 an d 21.
E ighth A v e n u e P a v in g D ist. N o . 1, b o n d s N o s . 34 t o 36 In clu sive.
W e lto n S treet P a v in g D is t. N o . 1, b o n d N o . 20.
G R A D IN G B O N D S.
N o rth D e n v e r G ra d in g D is t. N o . 1, b o n d s N o s . 72 t o 107 In clu siv e .
V IA D U C T B O N D S.
14th S treet V ia d u c t D is t ., b o n d s N o s . 745 t o 750 In clu siv e .
P A R K BO N DS.
H ig h la n d P a rk D is t ., b o n d s N o s. 1 t o 138 In clu siv e .

Dunklin County (Mo.) School District No. 2.— Bond Call.
— This district calls for payment May 1 at the Merchants’
Laclede National Bank in St. Louis $1,000 6% bonds dated
April 18 1896 and numbered 3 and 4. Denomination $500.




[V o l . l x x x t v .

Glasgow, Howard County, M o.— Bond Call.— Call was
made for payment March 1 at the National Bank of Com­
merce in St. Louis of $1,300 6% bonds dated March 1 1898
and numbered 2, 3 and 4.
Greenfield School District (P. O. Greenfield), Dade County,
Mo.— Bond Call.— Bond No. 7, for $500, dated May 1 1896,
has been called for payment May 1 at the Third National
Bank in St. Louis.
Hartford-South School District, Hartford County, Conn.—
Bond Call.— This district has called for payment on May 1
at the Fidelity Company of Hartford bonds Nos. 1 ,3 ,4 , 5, 6,
7, 8, 11, 15, 19, 20, 21, 22, 24, 25, 26, 29, 34, 35, 37, 38, 39,
40, 41, 42, 43, 44, 45, 46 and 48.
Iberia and St. Mary Drainage District (P. O. Jeanerette),
La.— Bond Call.— The Commissioners of this district have
drawn for payment bonds Nos. 37, 55, 56 and 80.
La Plata School District (P. O. La Plata), Macon County,
M o.— Bond Call.— Bond No. 3, for $1,000, bearing 5% in­
terest, was called for payment April 10 at the State Ex­
change Bank in Macon. Date of bond Oct. 1 1903.
Leadville School District No. 2 (P. O. Leadville), Lake
County, Colo.— Bond Call.— A. V. Hunter, District Treas­
urer, called for payment March 11 bonds numbered 25 to 31
inclusive. Denomination $1,000.
Liberty Township, Schuyler County, M o.—Bond Call.—
Bond No. 26 for $500, dated March 1 1892, was called for
payment March 1 at the Merchants-Laclede National Bank
of St. Louis.
Lincoln School District (P. O. Lincoln), Benton County,
Mo.— Bond Call.— Payment will be made May 1 at the Mis­
sissippi Valley Trust Co. in St. Louis of 5% bonds Nos. 3 and
4, for $500 each. Securities are dated May 1 1899.
Lincoln School District (P. O. Lincoln), Neb.— Bond Call.
— Call is made for payment May 1 at the office of Kountze
Bros, in New York City of $25,000 5% bonds dated May 1
1897.
Macon, Macon County, Mo.— Bond Calls.— Call is made for
payment May 1 at the office of N. W . Harris & Co. in New
York City of $2,500 4% bonds numbered 8 to 12 inclusive.
Denomination $500. Date May 1 1899.
On May 8 payment will be made at the Fourth National
Bank in New York City of $2,500 5% bonds dated May 8
1891 and numbered 16 to 20, inclusive. Denomination $500.
Memphis, Scotland County, M o.—Bond Call.— Call was
made for payment Feb. 15 at the Franklin Bank in St. Louis
of a $500 5% bond dated Feb. 15 1896.
New Orleans, La.— Premium Bonds Drawn.— The follow­
ing premium bonds of the City of New Orleans were drawn
by lot on April 16 (for payment July 15 1907), this being
the one hundred and twenty-sixth allotment:
Series N o s . 244 ,
1 92 8, 197 6, 2 1 9 0 ,
4518, 4532, 5040,
6841, 7339, 7413,
9 8 7 8 , 9 9 1 3 , 999 0.

352 , 58 8 , 684 , 1 14 2, 132 2, 134 4, 147 9, 1 56 4,
2 2 9 3 , 2 8 6 8 , 3 11 2, 3 2 1 8 , 3 29 0, 3 34 5, 3 65 2,
5 1 0 5 , 5 2 6 2 , 5 2 7 0 , 5 3 1 0 , 5 41 6, 5 44 0, 5 4 8 2 ,
7478, 8242, 8417, 8453, 8508, 9020, 9289,

1 60 0,
390 8,
6 02 9,
9770,

1 92 2,
4308.
6234,
9850,

Springfield, Greene County, M o.— Bond Call.— Call is made
for payment May 1 at the American Exchange National Bank
in New York City of $15,000 43^% 10-20-year (optional)
coupon bonds issued May 1 1896 and numbered 8 to 22 in­
clusive
Tacoma, Wash.— Bond Call.— The following bonds were
called for payment April 6:
B o n d s N o s . 1 t o 22 In clu sive o f L o c a l I m p r o v e m e n t D is tr ic t N o . 226 .
B o n d s N o s . 1 t o 5 In clu sive o f L o c a l I m p r o v e m e n t D is trict N o . 28 5 .
B o n d s N o s . 12 t o 14 In clu sive o f L o c a l I m p r o v e m e n t D is tr ic t N o . 38.

Warsaw School District (P. O. Warsaw), Benton County,
Mo.— Bond Call.— This district called for payment April 15
at the Bank of Warsaw 5% bonds dated April 15 1896 and
numbered 9 and 10. Denomination $500.
Wellsville School District, Montgomery County, M o.—
Bond Call.— Call was made for payment March 18 at the
Wellsville Bank of 4% bond No. 1 for $500, dated Sept. 1
1903.

Bond Proposals and Negotiations this week
have been as follows:
Adairville, Logan County, K y.— Bond Election.— An elec­
tion will be held April 30 to vote on the question of issuing
$6,000 6% electric-light bonds. Maturity 20 years, subject
to call at any time.
Albany County (P. O. Albany), N. Y .— Bond Offering.—
William P. Hoyland, County Treasurer, will offer for sale
at|12 m. May 6 $99,000 4% registered high way-improvement
bonds. Interest semi-annual. Maturity $1,000 yearly on
May 15 from 1908 to 1926 inclusive and $80,000 on May 1-5
1927.
Amsterdam School District No. 12, Montgomery County,
N. Y .— Bond Sale.— This district on April 20 awarded an
issue of $5,000 4 ^ % school-house bonds to the Amsterdam
Savings Bank of Amsterdam at par. Denomination $500.
Date April 20 1907. Interest annual. Maturity from 1908
to 1917 inclusive.
Athens, Athens County, Ohio.— Bond Offering.— Propos­
als will be received until 12 m. May 20 by W . B. Golden, Vil­
lage Clerk, for $4,000 5% Cemetery Street assessment bonds.
Denomination $400. Date March 1 1907. Interest semi­

THE CHRONICLE

A p r . 27 1907.]

annual. Maturity $400 yearly on Sept. 1 from 1907 to 1916.
inclusive. Certified check for $400, payable to the Village
Treasurer, is required. Accrued interest to be paid by pur­
chaser. Bidders should satisfy themselves as to the legality
of the bonds before bidding.
Barberton, Summit County, Ohio.— Bonds Authorized.— On
April 15 the Village Council passed ordinances providing for
the issuance of $9,781 31 Sewer District No. 1 assessment
and $9,774 67 Sewer District No. 2 bonds.
Batavia, Clermont County, Ohio.— Bond Sale.— On April
22 the two issues of 4% 30-year coupon side-walk-construction bonds, aggregating $5,900 and described in V. 84, p. 763,
were awarded to Seasongood & Mayer of Cincinnati for $5,991 75 (101.555) and accrued interest— a basis of about
3.912% . A bid of $5,944 25 was also received from the Prov­
ident Savings Bank & Trust Co. of Cincinnati.
Batavia Union Free School District No. 2 (P .O . Batavia),
Genesee County, N. Y .— Bond Bids.— The following bids
were received on April 20 for the $18,000 4 3^% school bonds
described in V. 84, p. 950:
W . J . H a y e s & S on s, C l e v e . .$ 1 8 ,3 6 0 1O ’ C o n n o r & K a h le r, N . Y ._ a $ 1 8 ,0 1 8
E m e r y , A n d e r s o n & C o .,C le v _ « 1 8 ,275 I E . S e y m o u r <fe C o ., N . Y ____ 18,0 0 0
O tis & H o u g h , C le v e la n d ____ a l8 ,1 1 0 H . B . C on e
B a ta v ia (fo r
--- -------------

j

$1,000)

.............................................

1 ,0 0 0

a A n d a c c r u e d In terest.

Battleford, Sask.— Debenture Offering.— Proposals will
be received until 6 p. m. May 15 by J. A. Mason, SecretaryTreasurer, for $30,000 5% coupon debentures. Denomina­
tion $6,000. Interest annually on July 1. Maturity one
debenture yearly.
Baxley, Appling County, Ga.— Bond Election.— On April 27
this city will vote on the question of issuing $7,500 6% 20year improvement bonds.
Bayou Mallat and Plaquemine Drainage District, St.
Landry Parish, La.— Bonds Not Sold.— No sale has yet
been made of the $17,000 5% bonds mentioned in V. 84,
p. 523.
Bayou Terre-aux-Boeufs Drainage District (P .O . St. Ber­
nard), St. Bernard Parish, La.— Bonds Voted.— An election
held April 16 resulted in a vote of 74 (property value $29,245)
to 10 (property value $2,755) in favor of a proposition to
issue bonds for drainage and irrigation purposes.
Benton County (P. O. Camden), Tenn.— Bonds Defeated.—
On March 30 the proposition to issue the $50,000 road bonds
mentioned in V. 84, p. 705, was defeated.
Berthoud, Larimer County, Col.— Bond Sale.— On April 9
$8,000 5% water-works bonds were awarded, $7,000 to the
Berthoud National Bank of Berthoud for the Imperial Fire
Insurance Co. of Denver at par and $1,000 to the sinking
fund as an investment. Denomination $1,000. Date June
1 1907. Interest semi-annual. Maturity June 1 1922, sub­
ject to call after June 1 1917. Securities are part of an au­
thorized issue of $10,000, and the remaining $2,000 will not
be sold unless the money is needed.
Bethel Township School District (P. O. New Carlisle),
Clark County, Ohio.— Bond Sale.— On April 19 the $2,990,
4% 4-year coupon school-house-improvement bonds described
in V. 84, p. 883, were awarded to F. A. Fissel, President of
the First National Bank of New Carlisle for $3,000 (100.334)
— a basis of about 3.91% .
Billings, Yellowstone County, Mont.— Bonds Not Sold.—
No sale has yet been made of the $400,000 coupon water­
works, canal and ditch bonds offered on April 10. See V. 84,
p. 585.
Binghamton, Broome County, N. Y .— Bond Bill Passes
Assembly.— The issuance of $70,000 Chenango River im­
provement bonds is provided for in a bill recently passed
by the State Assembly.
Bonner School District No. 14, Missoula County, Mont.—
Bond Sale.— This district has awarded the $8,000 5-10-year
(optional) school bonds offered on March 15 (V. 84, p. 585)
to the Union Bank & Trust Co. of Helena at par for 4}^s,
purchaser to pay cost of printing bonds.
Bossko Township (P. O. Otto), So. Dak.— Bond Offering.—
Proposals will be received until 4 p. m. May 30 by G. L.
Wooley, Township Clerk, for $2,000 5% coupon funding
bonds. Interest payable at Sisseton. The township has no
bonded debt at present. Assessed valuation 1906, $51,881.
Brenham, Washington County, Tex.— Bond Election.— An
election will be held May 14 to vote on the question of
issuing bonds for a new school building.
Bristol County (P. O. Taunton), Mass.— Bond Sale.— On
April 23 the $100,000 4J^% 4-year bridge notes described
in V. 84, p. 884, were awarded to Blake Bros. & Co. of Boston
at 100.44 and accrued interest— a basis of 4.379% . The
following bids were received:
B lak e B ro s. & C o ., B o s t o n . .1 0 0 .4 4 I E s ta b ro o k & C o ., B o s t o n ____ 1 00 .0 5
R . L . D a y & C o . , B o s t o n ____ 1 0 0 .3 5 9 | N . W . H arris & C o ., B o s t o n . . 100.01

Brookhaven, Lincoln County, Miss.— Bond Offering.—
Proposals will be received until 6 p . m . June 4 by the Board
of Aldermen for the $15,000 coupon water and light plant
improvement bonds mentioned in V. 84, p. 462. Authority
Mississippi Code of 1906. Denomination $500. Date Jan. 1
1907. Interest semi-annually at the City Treasurer’s office.
Maturity Jan. 1 1927, subject to call after Jan. 1 1912.
Bonds are exempt from city taxes. Bonded debt at present,
$82,000. Assessed valuation 1906, $1,010,000. R. D.
Lanier is Mayor.




1011

Buffalo, Erie County, N. Y .— Bonds Authorized.— A resolu­
tion providing for the issuance of $500,000 4% 50-year
water-works bonds has been adopted. Authority Chapter
203, Laws of 1906, as amended by Chapter 84, Laws of 1907.
Date June 1 1907. Interest Jsemi-annually at the City
Comptroller’s office or at the Gallatin National Bank in
New York City.
Burbank School District, Santa Clara County, Cal.— Bond
Election.— An election will be held April 27 to vote on the
question of issuing $7,000 5% 4-10-year (serial) school-build­
ing bonds. Denomination $1,000.
Burlington School District (P. O. Burlington), Des Moines
County, Iow a.— No Action Yet Taken.— No action has yet
been taken looking towards the issuance of the $150,000 4%
coupon high-school-building bonds voted on March 11.
Caldwell, Noble County, Ohio.— Bonds Voted.— On April 20
this village authorized the issuance of $11,000 5% 1-10-year
(serial) paving bonds by a vote of 224 to 42. Date of sale
not yet determined.
Caldwell County (P .O . Lockhart), Tex.— Bonds Proposed.
—This county is considering the question of issuing $35,000
coupon jail and road bonds. Denomination $500.
Calgary, Alberta, Canada.— Debentures Voted.— An elec­
tion held March 18 resulted in favor of the proposition to
issue $120,000 water and $75,000 sewer 43^% debentures.
Maturity water-works debentures 20 years and sewer deben­
tures 30 years. The vote was 137 to 1.
Chemung County (P. O. Elmira), N. Y .— Bonds ReAwarded.— We are advised that the sale on March 20 of the
$26,480 4% land bonds to English & Co. of Elmira (V. 84,
p. 706) was never consummated. The bonds were re­
awarded on April 15.
Cherry vale, Montgomery County, Kan.— Bonds Defeated.
— An election held recently resulted in defeat of the proposi­
tion to issue $15,000 city-hall bonds, mentioned in V. 84,
p . 706.
Chickasaw County (P. O. Houston), Miss.— Bond Sale.—
We are advised that the $29,000 6% drainage bonds described
in V. 83, p. 453, have been awarded to J. C. F. Sprankle of
Okolona at par. Denomination $500. Date Feb. 1 1907.
Interest annual.
Christian County (P. O. Hopkinsville), K y.— Bond Offer­
ing.— On April 16 the Fiscal Court authorized the issuance of
$100,000 5% 30-year turnpike-extension bonds dated July 1
1907. These securities will be offered at public auction on
June 4 1907.
Cincinnati, Hamilton County, Ohio.— Bond Offering.—
Proposals will be received until 12 m. May 20 by W . C. Culkins, City Auditor, for the following bonds, described in
V. 84, p. 951:
$ 5 4 0,00 0 3.65 % c o u p o n G ilb ert A v e n u e V ia d u c t b o n d s .
D a te , d a y o f
sale. M a tu rity t h ir t y y e a rs .
2 5 .0 0 0 3 .6 5 % c o u p o n F ifth S treet M a rk e t b o n d s .
D a te A p ril 15 1907.
M a tu rity A p ril 15 1927.
3 5 .0 0 0 3 .6 5 % c o u p o n s t r e e t-im p ro v e m e n t b o n d s .
D a te A p r il 15 190 7.
M a tu rity A p ril 15 1947.

Authority Sections 2835, 2835b, 2836 and 2837 of the Re­
vised Statutes. Denomination $500. Interest semi-an­
nually at the American Exchange National Bank, New York
City. Certified check for 5% of the amount of bonds bid
for, payable to the City Auditor, is required. Accrued in­
terest to be paid by purchaser.
Bonds Authorized.— The City Council recently passed or­
dinances authorziing the issuance of the following bonds:
$ 1 6 ,0 0 0 4 % 1 0 -y e a r c o u p o n S ta n le y A v e n u e ( c it y s p o r tio n ) im p r o v e m e n t
b o n d s b e a r in g d a te o f issu e.
17,000 3.6 5 % 2 0 -y e a r c o u p o n M a r k e t-h o u s e -im p r o v e m e n t b o n d s .
D a te
A p ril 30 1907.

Denomination $500. Interest semi-annually at the Ameri­
can Exchange National Bank of New York City.
Cincinnati School District (P. O. Cincinnati), Hamilton
County, Ohio.— Bond Offering.— Proposals will be received
until 8 p. m. May 27 by William Grantman, District Clerk,
for $250,000 3.65% coupon public-school-improvement
bonds. Denomination $500. Date, May 27 1907. Inter­
est semi-annually at the American Exchange National Bank,
New York City. Maturity 40 years. Certified check for 5%
of the amount bid for, payable to the Board of Education, is
required. Accrued interest to be paid by purchaser.
Coal Dale, Schuylkill County, Pa.— Bond Offering.— J. O.
Ulrich, Borough Solicitor (P. O. Tamaqua), is offering for
sale at 101 an issue of $16,000 4% coupon town-hall bonds.
Denomination $100 and $500. Date, day of sale. Interest
March 1 and Sept. 1 at the Citizens’ National Bank of Lansford. Maturity thirty years, subject to call after five years.
Bonds are exempt from all taxes. The borough has no debt
at present. Assessed, valuation for 1906, $827,000.
Cobleskill, Schoharie County, N. Y .— Bond Sale.— On
April 22 the $14,000 5-18-year (serial) coupon public park
bonds described in V. 84, p. 884, were awarded to Leland
Hodge at par and accrued interest for 4s. No other bids
were received.
Cordele, Crisp County, Ga.— Bonds Voted and Sold.— On
April 19 this place, by a vote of 213 to none, authorized the
issuance of $35,000 sewer and $10,000 water-works 5% 30year bonds. These securities, we are advised, have already
been sold

THE CHRONICLE.

1 0 1 2

Columbus, Ohio.— Bond S a les .—
b e e n p u r c h a se d
sin ce J a n . 1:

b y th e

S in k in g

T h e fo llo w in g b o n d s h a v e
F u n d a t p a r a n d in te re s t

$4,000 4 % g r a d e -c r o s s in g b o n d s.
D e n o m in a tio n $ 1 ,000.
1.5 0 0 4 )4 % C le v e la n d A v e n u e im p ro v e m e n t b o n d d a te d O c t . 15 1906 and
m aturing- S e p t. 1 1908.
5.0 0 0 4 % e lectric-lig h t b o n d s m a tu rin g M arch 1 1936.
D e n o m in a tio n
$1,000.
5 0 .000 4 % p u b lic -im p r o v e m e n t (c it y 's p o r tio n ) b o n d s m a tu r in g S e p t . 1
1917. D e n o m in a tio n $ 1 ,0 0 0 .
5 .0 0 0 4 % B roa d S treet Im p r o v e m e n t b o n d s d a te d Ja n . 2 1907 an d m a ­
tu rin g S e p t. 1 1917.
D e n o m in a tio n $ 1 ,0 0 0 .
1,200 4 )4 % B elvid ere sew er b o n d d a te d D e c. 18 1906 and m a tu r in g
M arch 1 1909.
9 .0 0 0 4>£ % K e lto n A v e n u e sew er b o n d s d a te d J a n . 30 1907 an d m a tu rin g
M arch 1 1908.
D e n o m in a tio n $ 1 ,000.
3 .0 0 0 4 )4 % G ates A v e n u e sew er b o n d s d a te d J a n . 30 1907 a n d m a tu rin g
M arch 1 1908. D e n o m in a tio n $ 1,000.
1.5 0 0 4 H % L in w o o d A v e n u e sew er b o n d d a t e d J a n . 30 1907 a n d m a tu rin g
M arch 1 1909.
7 .0 0 0 4 )4 % L illy A v e n u e sew er b o n d s d a te d J a n . 30 1907 an d m a tu r in g
M arch 1 1909.
D e n o m in a tio n $ 1 ,0 0 0 .
4 .0 0 0 4 )4 % W o o d la n d A v e n u e sew er b o n d s d a te d J a n . 30 1907 a n d m a ­
tu rin g M arch 1 1909.
D e n o m in a tio n $ 1 ,0 0 0 .
5.0 0 0 4 )4 % B roa d S treet Im p ro v e m e n t b o n d s d a te d O c t . 15 1906 an d m a ­
tu r in g S e p t. 1 1909.
D e n o m in a tio n $ 1,000.
4 .0 0 0 4 )4 % F o r d A lle y sew er b o n d s d a te d M arch 20 1907 a n d m a tu rin g
S e p t. 1 1908.
D e n o m in a tio n $ 1 ,0 0 0 .
10 .000 4 % en gin e-h ou se b o n d s d a te d M arch 20 1907 an d m a tu r in g O c t . 1
193 6. D e n o m in a tio n $ 1 ,000.
5 0 .0 0 0 4 % w a ter-w ork s r e fu n d in g b o n d s d a t e d A p ril 1 1907 a n d m a tu rin g
A p ril 1 1937.
D e n o m in a tio n $ 1 ,000.
10.000 4 3 4 % street-sp rin k lin g b o n d s d a te d A p ril 1 190 7 a n d m a tu r in g
A p ril 1 1909.
D e n o m in a tio n $ 1 ,000.
15.000 4 % G erm an ia S treet Im p r o v e m e n t b o n d s d a te d D e c. 1 1906 an d
m a tu r in g S e p t. 1 191 7. D e n o m in a tio n $ 1 ,000.
1 1 .0 0 0 4 % W a g e r S tre e t im p ro v e m e n t b o n d s d a te d D e c . 1 1906 a n d m a ­
tu rin g S e p t. 1 191 7. D e n o m in a tio n $ 1 ,0 0 0 .
6 .0 0 0 4 % T w e lfth A v e n u e im p ro v e m e n t b o n d s d a te d D e c. 1 1906 an d
m a tu r in g S e p t. 1 1917.
D e n o m in a tio n $ 1 ,0 0 0 .
5 .0 0 0 4 % C h erry S treet im p ro v e m e n t b o n d s d a t e d D e c . 1 1906 a n d m a
tu rin g S e p t. 1 1917.
10.000 4 % B o liv a r S tre e t im p r o v e m e n t b o n d s d a te d D e c. 1 1906 a n d m a ­
tu r in g S e p t. 1 191 7. D e n o m in a tio n $ 1 ,0 0 0 .
4 .0 0 0 4 % S ix th S treet Im p r o v e m e n t b o n d s d a t e d D e c. 1 1906 an d m a ­
tu rin g S e p t. 1 1917. D e n o m in a tio n $ 1 ,0 0 0 .
6 .0 0 0 4 % E u clid A v e n u e im p r o v e m e n t b o n d s d a te d A p ril 1907 a n d m a ­
tu r in g S e p t. 1 1918. D e n o m in a tio n $ 1 ,0 0 0 .
5 .0 0 0 4 % M ou n t P leasan t A v e n u e im p r o v e m e n t b o n d s d a te d A p ril 1 1907
and m a tu rin g S e p t. 1 191 8.
D e n o m in a tio n $ 1 ,0 0 0 .
7 .0 0 0 4 % P a tte r so n A v e n u e I m p r o v e m e n t b o n d s d a t e d A p ril 1 1907 and
m a tu rin g S e p t. 1 1918.
D e n o m in a tio n $ 1 ,0 0 0 .
9 .0 0 0 4 % T h ir te e n th A v e n u e im p r o v e m e n t b o n d s d a te d O c t . 15 1906 a n d
m a tu rin g S e p t. 1 1917.
D e n o m in a tio n $ 1 ,0 0 0 .

Cuyahoga County, (P. O. Cleveland) Ohio.— Note Sale.—
On April 20 the $16,150 5% 5-year (average) Kinsman Road
No. 2 improvement notes, described in V. 84, p. 951, were
awarded to Lamprecht Bros. & Co. of Cleveland at 103.832
and accrued interest— a basis of about 4.143% . Following
are the bids:
L a m p re c h tB ro s .& C o .,C le _ $ 1 6 ,7 6 9
H a y d e n . M iller & C o ..C I e . 16,743
C levelan d T ru st C o ., C le v . 16,727
S e c u r .S a v .B k .& T r .C o .,T o l 16,711
S ea s on g ood & M a yer, C ln . 16,688

0 0 1E m e ry , A n d e rs o n & C o .,C le . $16 ,675
00 R o g e rs & S o n s .C h a g r in F a lls 16,653
68 W . J . H a y e s & S o n s, C lev_ 1 6 ,6 2 0
00 O tis & H o u g h , C le v e la n d . 1 6 ,5 7 0
80 D e n is o n & F a r n s w o r th ,C le . 1 6 ,6 3 1

00
86
00
00
50

Bond Offering.— Proposals will be received until 11 a. m.
May 18 by the County Commissioners for $22,500 4% coupon
Parma and Brooklyn Plank Road bonds. Authority Sec­
tions 4875-1, 4875-2, 4875-3, 4875-4 and 4875-5 of the Re­
vised Statutes; also election held Nov. 6 1906. Denomina­
tion $1,000, except one bond for $500. Date June 1 1907.
Interest semi-annually, April 1 and Oct. 1, at the County
Treasurer's office. Maturity $2,500 on Oct. 1 1912 and
$5,000 yearly on Oct. 1 from 1913 to 1916, inclusive. A c­
crued interest to be paid by purchaser. Certified check for
10% of bonds bid for, payable to the County Treasurer, is
required.
Danville School District No. 118 (P. O. Danville), Vermil­
lion County, 111.— Bond Offering.— Proposals will be received
until 3 p . m . May 1 by A. A. Partlom, Secretary of Board of
Education, for $110,000 4% coupon school-building bonds.
Securities will be dated July 1 1907 and will be delivered
Sept. 1 1907. Denomination $500. Interest semi-annually
at Danville. Maturity $7,500 yearly on July 1 from 1909 to
1916 inclusive and $10,000 yearly on July 1 from 1917 to
1921 inclusive. Certified check or cash for $2,000, payable
to the Secretary, is required. Bonded debt at present $61,000. Assessed valuation $3,511,241.
Dawson, Lac qui Parle County, Minn.— Bond Offering.—
Proposals will be received until 7 p. m. May 11 by the Vil­
lage Council, Jas. O’Hara, President, for $16,000 5% water­
works bonds and until 8 p. m. on the same day (May 11) for
$12,000 5% electric-light bonds. Authority election held
April 16 1907. Denomination $1,000. Interest semi­
annual. Maturity twenty years. Like issues of bonds
were awarded last March to Wells & Dickey Co. of Minneap­
olis. If the above offering takes the place of the former one,
we are not informed as to why the earlier sale failed of con­
summation.
Defiance County (P. O. Defiance), Ohio.— Bond Offering.—
Proposals will be received until 12 m. May 6 by Edwin E.
Hall, County Auditor, for $20,000 4 J^% coupon infirmary
bonds. Authority Section 871-1 of the Revised Statutes of
Ohio. Denomination $1,000. Date May 1 1907. Interest
semi-annually on March 1 and Sept. 1 at the County Treas­
urer’s office. Maturity $5,000 yearly on Sept. 1 from 1909
to 1912 inclusive. Certified check (or cash) for 2% of bonds
bid for, drawn on some bank in Defiance, is required. Ac­
crued interest to be paid by purchaser.
De Funiak Springs, Walton County, Fla.— Bids Rejected.—
Bond Offering.— All bids received on April 20 for the three
issues of 5% bonds, aggregating $33,000, offered on that
day (V. 84, p. 706) were rejected. Proposals are again
asked for these bonds and mil be received until 12 m. May 15
by D. S. Gillis, Town Clerk. The securities answer the fol­
lowing description:




[V o l . l x x x iv .

$3,0 0 0 5 % sew er b o n d s.
D e n o m in a tio n $ 10 0.
10.000 5 % s c h o o l-b u ild in g b o n d s.
D e n o m in a tio n $ 5 0 0 .
2 0 .000 5 % w a te r-w o rk s b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 .

Authority, General Laws of the State of Florida. Date
May 15 1907. Interest semi-annually on Jan. 1 and July 1.
Maturity May 15 1927. Certified check for 5% of the
amount bid for is required.
Des Moines, Polk County, Iow a.— Bond Offering.— Pro­
posals will be received until 11 a. m. April 29 by John B.
Lucas, City Treasurer, for $78,000 43^% registered city-hall
bonds. Authority an Act of State Legislature which became
a law on April 13 1907. Denomination $1,000. Date May 1
1907. Interest semi-annually at the City Treasurer’s office.
Maturity $10,000 on May 1 1912; $15,000 on May 1 1917;
$20,000 on May 1 1922; $5,000 yearly on May 1 from 1923 to
1926 inclusive and $13,000 on May 1 1927. Bonds are taxexempt. Certified check drawn on some bank in Des Moines
(or a Chicago or New York draft) fo r $1,000, and payable to
the City Treasurer, is required.
D ’Lo, Simpson County, Miss.— Bond Offering.— This town
will offer at public auction on May 6 at 2 p. m. $2,500 6%
coupon school-building bonds. Authority Chapters 3415,
3416, 3419 and 3420, Mississippi Code 1906. Denomination
$125. Date May 1 1907. Interest semi-annually at the
Town Treasurer’s office. Maturity $125 each six months
from May 1 1917 to Nov. 1 1926 inclusive. The town has
no debt at present. Assessed valuation $104,950; real valua­
tion (estimated), $125,000.
Edina School District, Knox County, Mo.— Bond Offering.
— Proposals will be received until May 15 by C. R. Fowler,
Secretary of School Board, for $18,000 4% school bonds.
Authority, vote of 325 to 53 at election held March 16 1907.
Denominations, fifty of $100 each and twenty-six of $500
each. Date May 15 1907. Interest semi-annually in Edina.
Maturity May 15 1927, subject to call after May 15 1912.
The district has no debt at present. Assessed valuation
$399,964; real valuation about $1,000,000
Elmwood, Pierce County, W is.— Bond Offering.— Propos­
als will be received by Andy Shaffer, Village Clerk, for $6,000
water-works bonds. Rate of interest to be named in bids.
Maturity $300 yearly from 1908 to 1927 inclusive. Certified
check for $100, payable to the village, is required.
Encinal School District, Santa Clara County, Cal.— Bond
Offering.— Proposals will be received until 11 a. m. May 20
by F. E. Mitchell, Chairman Board of Supervisors (P. O.
San Jose), for $6,000 6% coupon school bonds. Authority,
a resolution of the Board of Supervisors of Santa Clara
County, adopted on April 15 1907. Denomination $500.
Date May 1 1907. Interest semi-annually at the County
Treasurer’s office. Maturity $500 yearly on May 1 from
1912 to 1923 inclusive. Certified check for 5% of bonds bid
for, payable to Henry A. Pfister, County Clerk, is required.
Essex County (P. O. Salem), Mass.— Notes Not Sold.— No
satisfactory bids were received on April 22 for the $50,000
4% 1-10-year (serial) draw-bridge notes described in V; 84,
p. 752. These securities will be re-offered as 4J^s.
Note Offering.— Proposals are again asked for, this time
for notes bearing 43^% interest, and bids will be received
until 11 a. m. May 6 by the County Commissioners. Au­
thority Chapter 254 of the Acts of 1905. Denomination
$5,000. Date March 1 1907. Interest semi-annual. Ma­
turity $5,000 yearly on March 1 from 1908 to 1917 inclu­
sive.
Galt School District, Man.— Debenture Offering.— Propos­
als will be received up to May 15 by W . J. Donahue, Secretary-Treasurer (P. O. Lenore), for $2,200 5% debentures
dated March 1 1907. Interest annually at the Bank of
Ottawa in Virden. Maturity twenty years.
Granite School District (P. O. Salt Lake City), Salt Lake
County, Utah.—Bond Offering.— Proposals will be received
until 7:30 p. m. April 29 by the Board of Education at its
office, No. 1900 South State Street, Salt Lake City, for $40,000 5% building bonds. Authority vote of 94 to 55 at elec­
tion held April 6 1907. Denomination $1,000. Maturity
twenty years, subject to call after five years. J. D. Cum­
mings is Clerk of Board.
Graton Catholic Separate School District No. 13, Sask.—
Debenture Offering.— Proposals will be received until 7:30
p .m ., May 15 (date changed from May 1), by L. L. Kramer,
Secretary School Board (P. O. Box 57, Regina), for $35,000
5% coupon school-building debentures. Securities are
dated May 1 1907. Interest annual. Maturity part yearly
on May 1 for thirty years.
Greeley, Weld County, Col.— Bond Offering.— Proposals
will be received until 7:30 p . m. May 21 by J. B. Patton, City
Clerk, for $25,000 city-hall bonds at not exceeding 5% in­
terest. Date July 1 1907. Interest semi-annual. Matur­
ity July 1 1922, subject to call after July 1 1917. Certified
check for $500, payable to the City Clerk, is required. Suc­
cessful bidder to furnish printed bonds free of charge. Bonds
will be delivered to purchaser at the rate of $5,000 each
month.
Greensboro, Guilford County, N. C.— Bond Offering.—
Proposals will be received until 8 p . m . May 15 by T. J. Mur­
phy, Mayor, for $30,000 5% coupon school-bonds. Author­
ity, election held March 12 1907. Denomination $1,000.
Date June 1 1907. Interest semi-annually at the City
Treasurer’s office. Maturity June 1 1937. Certified check

A p r . 27 1907.]

THE CHRONICLE.

1013

for 2% of bonds bid for, payable to the City Treasurer, is at hand relative to the offering on May 3 of the $15,000 5%
coupon school-building-addition bonds mentioned in V. 84,
required.
Hamilton, Butler County, Ohio.— Bond Offering.— Pro­ p. 954. Proposals for these securities will be received until
posals will be received until 12 m. to-day (April 27) by Thad. 8:30 p . m. on that day by the Board of Education. Denomi­
Straub, City Auditor, for SI6,000 4% Maple Avenue and nation $1,000. Date June 1 1907. Interest semi-annually
South Second Street (city’s portion) improvement bonds. at the Lakewood Trust Co. of Lakewood. Maturity $1,000
Authority Section 53 of the Municipal Code. Denomina­ yearly on June 1 from 1908 to 1922 inclusive. Bonds are
tion $500. Date April 1 1907. Interest semi-annual. Ma­ exempt from taxation. Certified check for $500, payable to
turity April 1 1922. Certified check for 5% of bonds bid the Board of Education, is required. Bonded debt, includ­
for, payable to the City Treasurer, is required. Accrued ing this issue, $34,000. Assessed valuation $5,066,125.
Latonia, Kenton County, K y .— Description of Bonds.—
interest to be paid by purchaser.
Hanford, Kings County, Cal.— Bond Election.— An election We are informed that the $2,100 Park Avenue improvement
will be held April 29 to vote on the question of issuing bonds awarded on April 16 to the Central Savings Bank &
$20,000 sewer, $13,000 water-main-extension, $2,000 fire- Trust Co. of Covington at 104.523 (V. 84, p. 954) carry
alarm-extension and $5,000 fire apparatus 5% 1-40-year 6% interest, payable semi-annually. Denomination $100.
Date April 16 1907. Maturity April 16 1917, subject to call
(serial) bonds. Denomination $1,000. Interest annual.
Hempstead Union Free School District No. 24 (P. O. Val­ after April 16 1912.
Latta School District No. 20 (P .O . Latta), Marion County,
ley Stream), Nassau County, N. Y .— Bond Offering.— Pro­
posals will be received until 4 p. m. May 1 by the Board of S. C.— Bond Offering.— Proposals will be received until 12m .,
June 1, by J. C. Bethea, Secretary and Treasurer, for the
Education for the following bonds:
$14,000 5% school-building bonds mentioned in V. 84, p.
.$30,000 4J4 % re g iste re d
n e w -b ric k -s ch o o lh o u s e
b o n d s.
D e n o m in a tio n
$ 1 ,0 0 0 . M a tu rity $ 2 ,0 0 0 y e a r ly on J a n . 1 fro m 1913 t o
954. Denomination $500. Interest semi-annually Jan. 1
1927 In clu siv e . C ertified c h e c k fo r $ 1 ,0 0 0 , p a y a b le t o th e
and July 1. Certified check for 5% of the bonds, payable
T re a su re r o f th e B o a rd o f E d u c a tio n , re q u ire d .
to J. C. Bethea, Secretary and Treasurer, is required.
3 ,0 0 0 4 y2 % re giste re d s c h o o lh o u s e -m o v in g -a n d -r e p a lr ln g b o n d s.
D e­
n o m in a tio n $ 5 0 0 . M atu rity $500 y e a r ly o n Jan . 1 fro m
Leesburg, Highland County, Ohio.— Bond Sale.— On
1908 t o 1913 in c lu s iv e . C ertified ch e ck fo r $200, p a y a b le t o
th e T reasu rer o f th e B o a rd o f E d u c a tio n , Is re q u ire d .
April 13 the $4,000 4*^% water-works bonds described in
Interest semi-annually at the Bank of Rockville Centre V. 84, p. 886, were awarded to Otis & Hough of Cleveland
in Rockville Centre
at 103.40 and accrued interest.
Herington, Dickinson County, Kan.— Bond Offering.—
Lewisburg, Marshall County, Tenn.— Bond Election.— An
Further details are at hand relative to tha offering of May 13 election will be held April 30 to vote on the question of issuing
of the $43,000 5% registered water-works bonds mentioned $40,000 5% water-works-system bonds.
in V. 84. p. 953. Proposals will be received until 6 p. m.
LewistonJSchool District No. 13, Cache County, Utah.—
on that day by B. C. Cray, City Clerk. Authority, Chapter Bond Offering.— Proposals will be received until May 1 by
101, Laws of 1905. Denomination $1,000. Date July 1 Herman H. Danielsen, District Clerk, for $19,750 5% gold
1907. Interest semi-annually at the fiscal agency of the school bonds. Authority Chapter 14, Title 55, of Revised
State in New York City. Maturity July 1 1927. Certified Statutes'of 1898 as amended by Chapter 17, Laws of 1901,
check for $500, payable to the City Clerk, is required and Chapter 57, Laws of 1905; also vote of 63 to 4 at election
Bonded debt, at present, $36,000. Assessed valuation 1906, held March 18 1907. Denomination $500, except five bonds
$287,000.
for $50 each. Date July 1 1907. Interest semi-annually
Hopewell, Mercer County, N. J.— Bond Election.— An elec­ at the Lewiston State Bank of Lewiston. Maturity July 1
tion will be held April 30 to vote on the question of issuing 1927, subject to call after July 1 1912. Certified check for
$20,000 coupon or registered water-works bonds for the 5% of bid is required. The district has no debt at present.
purchase of the water-works of the Hopewell Water Co. Assessed valuation 1906 $494,353.
and the improvement of same. Denomination $100 or mul­
Lloydminster, Sask.— Debenture Sale.— On April 2 $6,500
tiple. Date June 1 1907. Interest (not to exceed 4 }4 % ) 5}/2% debentures were awarded to Nay, Anderson & Co., o f
payable semi-annually. Maturity $3,000 every five years Regina, for $6,523— the price thus being 100.353.
from June^l 1912 to June 1 1937,inclusive, and$2,000 June 1
Magnolia, Pike County, Miss.— Bond Offering.— Further
details are at hand relative to the offering on May 15 of the
1942.
Idaho.— Bond Sale.— On April 25 the eleven issues of 4% $25,000 5% school-building bonds mentioned in V. 84,
10-20-year (optional) bonds, aggregating $279,000, described p. 954. Proposals for these securities will be received until
in V. 84, p. 765, were awarded to the State of Nebraska at 8 p. m. on that day by A. L. Lazar, Town Clerk. Authority,
Section 3415, Code of 1906; also vote of 81 to 2 cast at elec­
par.
Ionia County (P. O. Saranac), Mich.— Bond Election.— tion held April 8 1907. Denominations $100 and $500.
An election will be held to-day (April 27) to vote on the ques­ Date June 1 1907. Interest annually at the Magnolia Bank.
Maturity $100 yearly on June 1 from 1908 to 1926 inclusive
tion of issuing $3,500 building bonds.
and $23,100 June 1 1927. Bonded debt at present $24,800.
Island School District, Fresno County, Cal.— Bond Sale.— Assessed valuation $718,777. Official circular states that
On April 13 an issue of $3,000 6% 1-5-year (serial) bonds no bonds have been contested and that there is no contro­
was awarded to the First National Bank of Oakland at versy or litigation pending affecting the corporate existence
104.453— a basis of about 4.40% . Following ar6 the bids:
or titles of its present officials.
F irs t N a t. B k ., O a k la n d . .$ 3 ,1 3 3 60) A d a m s -P h illlp s C o .,L o s A n g .$ 3 ,1 2 0 00
Mahoning County (Ohio) Road District No. 1.— Bond Sale.
M erch a n ts’ T ru st C o .,L o s A . 3,125 0 0 [L o s A n g ,e le s T r u s tC o .,L o s A . 3 ,0 9 0 00
Denomination $600. Date April 2 1907. Interest annual. — On April 20 the $100,000 5% coupon road-improvement
bonds described in V. 84, p. 766, were awarded to Rudolph
Jamestown, Stutsman County, N. D .— Bond Election.— Kleybolte & Co. and the Provident Savings Bank & Trust
An election will be held April 29 to vote on a proposition to Co., both of Cincinnati, for their joint bid of 105.562— a
issue $20,000 4% city-hall bonds. Maturity $1,000 yearly basis of about 4.152% . Following are the bids:
for twenty years.
E m e r y , A n d e r s o n & C o .,
R . K le y b o lt e & Co.,C in-|
C lev elan d ................... .. $ 1 0 4 , 7 6 0 00
c in n a t l.a n d P r o v id e n t ($ 1 0 5 ,5 6 2 88
Kennedy Heights, Ohio.— Bond Offering.— Proposals will
S a v .B k .A T r .C o .,C in . I
F . L . F u lle r & C o ., C le v . 104 ,444 44
be received until 12 m ., May 25, by O. W . Bennett, Village U n io n S a v .B k .& T .C o .,C in 105 ,360 00 W . J . H a y e s & S o n s. C le . 103,871 00
B r e e d & H a rriso n , C i n . . 105 ,3 2 0 75 O tis & H o u g h , C le v ela n d 103 ,811 00
Attorney, Room 711, Fourth National Bank Building, Cin­ W
e ll, R o t h & C o ., C i n . . 105,265 00 D olla r S a v in gs & T ru st
cinnati, for $1,005 5% street-improvement assessment bonds. H a y d e n ,M ille r & C o .,C le v . 105 ,033 00 C o ., Y o u n g s t o w n ______ 103 ,750 00
M a c D o n a ld , M c C o y & C o .,
Authority, Section 1536-281 of the Revised Statutes. De­ S e c u r i t y S av in gs Hank &
C h i c a g o _______________ 103,333 00
T o le d o ____ 105 ,0 1 5 00
nomination $201. Date April 15 1907. Interest semi­ H oTe rhulesrt&CCou.,m m
in g s , T o l. 104 ,987 5 0 | W . R . T o d d & C o ., C i n . . 1 0 3 ,0 0 0 00
annual. Maturity $201 yearly on April 15 from 1908 to
Manning Independent School District (P. O. Manning),
1912 inclusive. Accrued interest to be paid by purchaser.
Carroll County, Iow a.— Bond Offering.— Proposals were
La Crosse, La Crosse County, W is.— Bond Sale.— This city asked for until 12 m. yesterday (April 26) by O. W . Emmons,
has awarded the $20,000 4% coupon school-building bonds Secretary Board of Education, for $24,000 coupon school
offered on April 10 to A. B. Leach & Co. of Chicago at par. building bonds at not exceeding 6% interest. Authority
See V. 84, p. 828, for description of these securities.
Chapter 114, Laws of 1904. Denomination $500 or $1,000.
La Grande, Union County, Ore.— Bond Offering.— Pro­ Date about June 1 1907. Interest semi-annually at Manning.
posals will be received until 8 p. m. May 10 by I. R . Snook, Maturity ten years, subject to call after five years. The dis­
City Recorder, for $160,000 5% gold coupon water-system- trict has no debt at present. Assessed valuation $996,124.
Montgomery County (P. O. Dayton), Ohio.— Bond Sale.—
extension bonds. Denomination $1,000. Date June 1
1907. Interest semi-annual. Maturity June 1 1927, sub­ On April 23 the $50,000 4% 7-year (average) coupon bridge
ject to call after June 1 1917 upon three months’ notice. bonds described in V. 84, p. 828, were awarded to the Day­
Bonds are exempt from local taxation. Certified check for ton Savings & Trust Co. of Dayton and the Central TruSt &
Safe Deposit Co. of Cincinnati at 101.256— a basis of about
$2,000, payable to the City Recorder, is required.
. The following bids were received:
Lakewood, Cuyahoga County, Ohio.— Bond Sale.— On 3.795%
D a y to n S av in gs & T ru st]
W e ll, R o t h & C o ., C I n c ln .$ 5 0 ,5 1 6 25
April 22 three issues of 5% 6-year (average) bonds, aggre­
C o , D a y t o n ___________ f$ 5 0 ,6 2 8 00 A . K le y b o lt e & C o ., C in e . 5 0 ,3 5 0 00
T ru st & .Safe De-|
R . K le y b o lt e & C o ., C in e . 50,2 7 7 00
gating $17,651, were awarded to the Cleveland Trust Co. of Cenp otral
s it C o ., C in c in n a t i..J
H a y d e n , M iller & C o ., C l . 5 0 ,2 0 7 00
Cleveland at 103.778 and interest— a basis of about 4.28% . W e s te rn -G e rm . B k ., C in . 50,5 8 0 00 O tis & H o u g h , C le v e la n d - 5 0 ,1 9 5 00
B reed & H a rriso n , C i n e . . 5 0 ,535 75
The following bids were received:
Montreal, Quebec.— Debentures Authorized.— The issuance
C lev ela n d T r . C o ., C le v e la n d .$ 1 8 ,3 1 8 1D e n iso n
& F a rn sw o rth ,
H a y d e n . M iller & C o ., C le v . . 18,2321
C le v e la n d & B o s t o n ____ $18 ,0 9 4 50
of £1,000,000 sterling (or its equivalent) of 4% 40-year gold
W . J . H a y es & S o n s, C l e v e . . 1 8 ,1 6 9 iR o c k y R l v . S a v . B k . &
debentures has been authorized. We are informed that it
O tis & H o u g h , C le v e la n d ____ 18,1131
T r . C o ., R o c k y R i v e r . . 18,091 00
I W . R . T o d d & C o ., C i n e . . 17,686 00
has not yet been decided whether the securities will be offered
For description of bonds see V. 84, p. 766, 828 and 885.
at home or whether placed in European markets. Interest
Lakewood Township School District (P. O. Lakewood), semi-annually in May and November. Bonded debt at
Ocean County, N, J .— Bond Offering.— Further details are present $31,000,000. Assessed valuation $200,000,000.




1014

THE CHRONICLE.

Mount Forest, Ont.— Debenture Offering.— Proposals will
be received up to April 30 for the following debentures:
$ 8 ,0 0 0 4 H % d eb en tu res d a te d D e c . 20 1906. M a tu r ity p a r t
ten y ea rs.
5 ,0 0 0 4 Yl % d eb en tu res d a te d D e c . 20 1 90 6. M a tu r ity p a r t
t h ir t y y e a rs.
5 ,2 0 0 4 }4 % d eb en tu res d a te d M ay 1 1 90 7. M a tu rity p a r t
th ir ty y ea rs.
1,7 7 1 21 4 H % d eb en tu res d a te d D e c . 20 1 90 6. M a tu r ity p a r t
tw e n ty y ea rs.

y e a r ly fo r
y e a r ly f o r
y e a r ly fo r
y e a r ly fo r

W. C . Perry is Town Clerk.
Nampa Independent School District No. 37, Canyon
County, Idaho.— Bond Offering.— Proposals will be re­
ceived until 8 p . m . May 18 by Ida Hammond, District Clerk,
for $15,000 5% gold coupon school-building bonds. Au­
thority election held March 14 1907. Denomination $1,000.
Date June 1 1907. Interest January and July at the Han­
over National Bank in New York City. Maturity June 1
1927, subject to call after June 1 1917. Bonds are tax ex­
empt. Certified check for $500, payable to Ida Hammond,
District Clerk, is required. Bonded debt, including this
issue, $57,500. Assessed valuation $787,000.
Napoleon, Henry County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. May 20 by F. W . Hilgendorff, .Village Clerk, for the following bonds:
$4,320 5 % co u p o n P a rk S treet special assessm ent sew er b o n d s .
n a tion $864.
1,6 5 0 5 % c o u p o n C a ry Street special assessm ent sew er b o n d s .
n a tion $330.

D e n o m i­
D e n o m i­

[V o l . l x x x iv .

for $6,000 6% coupon school-building bonds. Denomina­
tion $1,000. Date June 1 1907. Interest semi-annually at
place to suit purchaser. Maturity twenty years, subject to
call after ten years. Bonds are exempt from taxation.
Bonded debt this issue. Assessed valuation, $216,380.
Palmer, Hampden County, Mass.— Bond Offering.— Pro­
posals will be received until 7 p. m. May 6 by the Town
Treasurer for $30,000 4 /
x i% coupon grammar-school-loan
bonds. Authority election held March 25 1907. Date
June 1 1907. Interest semi-annually in Boston. Maturity
$3,000 yearly on June 1 from 1908 to 1917 inclusive.
Paulding County (P. O. Paulding), Miss.—Bond Offering.
— Proposals will be received until 12 m ., May 6, by T. Q.
Brame, County Clerk, for $35,000 5% court-house and jailerection bonds. Denomination $500. Date May 1 1907.
Interest semi-annual. Maturity May 1 1927, subject to call
after May 1 1912. Certified check for 5% of the amount of
bonds bid for is required.
Pittsburgh, Pa.— Washington Sub-School District.— Bond
Offering.— Proposals will be received up to May 2 by Wm. G.
Thomas, Secretary, or Edw. Davison Jr., President, for
$60,000 4% bonds. Denomination $1,000. Date July 1
1907. Interest semi-annually at the Arsenal Bank of
Pittsburgh. Maturity $5,000 yearly on July 1 from 1912
to 1923 inclusive.
Plano, Collin County, Tex.— Bonds Registered and Sold.—
The State Comptroller on April 4 registered $4,500 5% water works-improvement bonds. Denomination $500. Date March
1 1907. Interest annual. Maturity March 1 1947, subject
to call after March 1 1922. These securities, we are in­
formed, have already been disposed of.
Plymouth Township (P. O. Plymouth), Richland County,
Ohio.— Bond Offering.— Proposals will be received until
12 m. May 21, by Albert Kirkpatrick, Township Clerk, for
$15,000 5% coupon road-improvement bonds. Authority
an Act of General Assembly passed April 22 1904. Denomi­
nation $500. Date May 21 1907. Interest semi-annually
March 1 and September 1. Maturity $2,000 on Sept. 1 1908,
$1,000 on Sept. 1 each of the years 1909 and 1910; $500 on
Sept. 1 1911; $1,000 on Sept. 1 1912; $500 on Sept. 1 1913;
$1,000 yearly on Sept. 1 from 1914 to 1920 inclusive; $1,500
on Sept. 1 1921, and $500 on Sept. 1 1922. All bids must
be unconditional. Accrued interest to be paid by purchaser
who will also be required to furnish blank bonds at his own
expense. Certified check for $200, drawn on some bank in
Plymouth, is required.
Providence, Providence County, R. I .— Bond Sale.— The
$300,000 3 % % gold school bonds mentioned in V. 84, p.
955, have been awarded to the Board of Commissioners of
the Sinking Funds at par. Denomination $1,000, $5,000,
$10,000 and $20,000. Date May 1 1907. Interest semi­
annually at the City Treasurer’s office. Maturity May 1 1937
Pueblo, Pueblo County, Col.— Bond Sale.— Reports state
that this city on April 13 awarded an issue of $136,000 4 ^ %
10-20-year (optional) refunding bonds to fi. H. Rollins &
Co. of Denver at 100.625 and accrued interest.
Ramsey County (P. O. St. Paul), Minn.— Bond Sale.—
The following bids were received on April 22 for the $40,000
4% 7-year coupon refunding bonds described in V. 84, p . 955:

Date March 1 1907. Interest semi-annually at the village
Treasurer’s office. Maturity one bond of each issue yearly
on March 1 from 1908 to 1912 inclusive. New York draft
for $100, payable to the Village Treasurer, is required. Pur­
chaser to furnish blank lithographed bonds at his own ex­
pense.
Nashville, Tenn.— Bond Election.— A bill providing for the
submission to a vote at the next general election of a propo­
sition to issue $300,000 park bonds has been passed by the
Council.
Newbern, Dyer County, Tenn.— Bonds Voted— Bond Offer­
ing.— An election held April 16 resulted in favor of a propo­
sition to issue $25,000 5% school-building and $25,000 5%
street-paving bonds. Proposals for these bonds will be re­
ceived unitl 2 p. m., May 21, by Wm. A. Shibley, Cashier of
Farmers’ & Merchants’ Bank of Newbern. Denomination
$1,000. Interest semi-annually. Maturity thirty years.
Certified check for $2,000, payable to the Mayor and Alder­
man, is required. H. J. Swindler is Mayor.
New Haven Township (P .O . New Haven), Huron County,
Ohio.— Corrected Maturity.— In the offering published in last
week’s issue of the $15,000 6% road-improvement bonds,
we gave the maturity of only $14,500 of the bonds— the
$500 maturing May 7 1908 having been inadvertently
omitted. The following is the correct maturity: $500 on
May 7 in each of the years 1908 and 1909, $1,000 on May 7
1910, $1,500 on May 7 1911, $3,500 on May 7 1912 and $4,000
on May 7 in each of the years 1913 and 1914. These securi­
ties are coupon in form and are exempt from all taxation.
The sale of these bonds will take place on May 7, and further
details of the offerings will be found in V. 84, p. 955. Bonded
debt, including this issue, $26,000. Assessed valuation
1906, $1,540,000.
Niborg, Turner County, So. Dak.— Bonds Not Sold.— No S ca n d ln a v ia n -A m e rica n B a n k , S t. P a u l____________________________ $ 4 0 ,1 0 0 10
sale was made on April 22 of the $5,000 5 % 20-year coupon E m e ry , A n d erson & C o .. C le v e la n d _______________________________ 4 0 ,0 0 0 00
H arris T ru st & Sav in gs B a n k , C h ic a g o __________________ _______ . .a 4 0 ,0 0 0 00
water-works bonds described in V. 84, p. 830.
a L ess $290 e x p e n se s.
North Olean (P. O. Station No. 1, Olean), Cattaraugus
County, N. Y .— Bond Sale.— The $60,000 2-26-year (serial)
Robertson County (P. O. Springfield), Tenn.— Bond Offer­
registered sewer bonds described in V. 84, p. 886, were ing.— Proposals will be received until 12 m. June 1 by Chas.
awarded to W . J. Hayes & Sons of Cleveland at 100.15
for 4J^s— a basis of about 4.486%. The following bids were E. Bell, Secretary, for $150,000 4% coupon pike bonds. Se­
curities will be dated July 1 1907. Interest semi-annual.
received:
W . J . H a y e s & S on s, C levela n d (fo r 4 J 4 s )____________________________ 100.15
Maturity thirty years, subject to call after twenty years.
G . M . H a h n , N ew Y o r k (fo r 4 .7 0 s )___________ ______ ______ ______ _____ 100 .13
O ’ C on n or & K a h ler, N . Y . (fo r 4 .7 5 s )............... ............................... ......... 100.041
The county has no debt at present. Assessed valuation
E x ch a n g e N a t. B a n k . O lean (fo r 5 s ) --------------------------------------------------- 100 .00
Norwood, Hamilton County, Ohio.— Bond Sale.— On April $5,556,570.
The official notice of this bond offering will be found among
8 the two issues of 4 ^ % 25-year sanitary and storm-watersewer coupon bonds, aggregating $29,000, and described in the advertisements elsewhere in this Department.
V. 84, p. 648, were awarded to Weil, Roth & Co. of Cincin­
Rushsylvania Union School District (P .O . Rushsylvania).
nati at 110%.
Logan County, Ohio.— Bond Offering.— Proposals will be re­
Okanogan County (Wash.) School District No. 9.— Bond ceived until 1 p. m. May 11 by C. E. Huston, Clerk Board of
Offering.— Proposals will be received until 10 a. m. to-day Education, for $12,000 4% school-building bonds. Author­
(April 27) by P. H. Pinkston, County Treasurer (P. O. Con- ity Sections 3991 and 3992 of the Revised Statutes of Ohio.
conully) for $400 gold coupon building bonds at not exceed-, Date May 18 1907. Interest semi-annual. Maturity as
ing 4% interest. Denomination $200. Interest payable follows:
at the office of the County Treasurer. Maturity five years. $ 1 ,6 0 0 — o n e b o n d o f $200 ea ch s ix m o n th s fro m M arch 15 1908 t o S e p t. 15
1911 In clu sive.
Bonds are exempt from taxation. Certified check for 1% ,
2 ,0 0 0 — o n e b o n d o f $250 each six m o n th s fro m M arch 15 1912 t o S e p t. 15
1915 in clu siv e .
payable to the County Treasurer, is required.
2 ,4 0 0 — on e b o n d o f $300 ea ch six m o n th s fro m M arch 15 1916 t o S e p t. 15
Omaha, Douglas County, Neb.— Bond Offering.— Propos­
1919 in clu s iv e .
2 ,8 0 0 — o n e b o n d o f $350 each s ix m o n th s fro m M arch 15 1920 t o S e p t. 15
als will be received until 3 p. m. April 29 by Robt. O. Fink,
1923 in clu s iv e .
City Treasurer, for $69,000 4>£% coupon street-improve3 ,2 0 0 — o n e b o n d o f $400 ea ch six m o n t h s 'fr o m M arch 15 1924 t o S e p t. 15
1927.
ment bonds. Authority Section 198, Charter of 1905. De­
Accrued interest to be paid by purchaser. Certified check
nomination $500. Date May 1 1907. Interest annually
at the Fiscal Agency in New York City. Maturity $2,000 for 5% of the amount of bonds bid for, payable to the Treas­
on May 1 in each of the years 1909 and 1910; $5,500 on May urer of the Board of Education, is required. These bonds
1 1911; $6,000 on May 1 1912; $8,000 on May 1 1913; $10,500 take the place of those awarded on April 5 to the Citizens’
on May 1 1914; $14,500 on May 1 1915 and $20,500 on May Bank Co. of Rushsylvania and the Commercial & Savings
1 1916. Certified check for $1,000, drawn on a national Bank Co. of Bellefontaine (V. 84, p. 887),which sale was never
consummated, owing to an error in the first advertisement.
bank and payable to the City of Omaha, is required.
St. Mathews School District No. 8 (P. O. St. Matthews),
Oronogo School District (P. O. Oronogo), Jasper County,
Mo.— Bond Offering.— Proposals will be received until Orangeburg County, S. C.— Bond Offering.— Proposals will
4 p. m., May 1, by J. L. Russell, Secretary School Board, be received until 12 m., May 15, by the Board of Trustees




A pe.

THE CHRONICLE-

27 1907.J

(015

for $10,000 5% 20—40year (optional) coupon school bonds. Denominations: 20 bonds of $500 each, 40 bonds of $250
Denomination $500. Interest annually July 1. J. H. each and 50 bonds of $100 each. Interest semi-annual.
Bonds mature in 1925. Certified check for 5% of the amount
Loryea is District Clerk.
Salem, Harrison County, W . V a .— Bonds Not Yet Sold.— bid, payable to the President of the Board of Commissioners,
No sale has yet been made of the $31,500 5% 34-year water­ is required. Assessed valuation, $1,463,024. Real value,
works, paving and sewer bonds offered without success on (estimated), $4,389,072.
March 14 and again on April 11 1907. See V. 84, p. 410, for
Shawville, Pontiac County, Que.— Debenture Offering.—
description of bonds.
Proposals will be received until Ma}1" 10 by W . W . Ireland,
Sandusky, Erie County, Ohio.— Bond Sale.— On April 25 Secretary-Treasurer, for $25,000 5% 40-year water-works
the $22,000 4% 10-year coupon Monroe and East and West and sewerage-system debentures. Interest semi-annual.
Park Street (city’s portion) paving bonds, a description of
Shelby, Cleveland County, No. Caro.— Bonds Not to Be
which was given in V. 84, p. 829, were awarded, it is stated, Issued at Present.— We are informed that it has been decided
to Seasongood & Mayer of Cincinnati for $22,289 50, the price not to issue the $115,000 water-works and sewerage bonds
thus being 101.315— a basis of about 3.841%.
mentioned in V. 84, p. 588, until about July 1.
Schenectady, Schenectady County, N. Y .— Bond Offering.
Sherburne County (P. O. Elk River), Minn.— Bond Sale.—
— Proposals will be received until 11 a. m. May 28 by O. S. On April 22 the $7,000 5% coupon drainage bonds described
Luffman, City Comptroller, for the following bonds:
in V. 84, p. 956, were awarded to the Bank of Elk River at
$ 30 ,0 0 0 4 Yi % registered s c h o o l b o n d s . T h e se se cu ritie s are p a r t o f an
101 and accrued interest. The following bids were received:
Issue o f $ 6 0 ,0 0 0 b o n d s m a tu rin g § 3 ,0 0 0 y e a r ly on Ju n e 1
fro m 1900 t o 1918 In clu sive an d $ 30 ,000 o n Jun e 1 1927.
T h e $ 3 0 ,0 0 0 m a tu rin g $ 3 ,000 y e a r ly on Ju n e 1 1909 fro m
t o 1917 In clu sive w ill b e ta k e n at p a r b y th e w a te r d e b t
sin k in g fu n d as an in v e s tm e n t.
3 70 ,000 4 H % registere d sew er b o n d s .
M a tu rity Ju n e 1 1927.

B a n k o f E lk R iv e r , E lk R lver_$7,070| M in n e so ta L o a n & T ru s t C o .,
M . M . S to d d a rd , M in n e a p o lis . 7 ,0 6 0 j
M in n ea p olis ________________ $ 7 ,055

Snake River Valley Irrigation District (P. O. Shelley),
Idaho.— Bonds Not Sold.— No sale was made on April 15 of
Authority Section 96, Chapter 371, of the Laws of 1903. $275,000 5% coupon canal bonds offered by this district*.
Denomination $1,000. Date June 1 1907. Interest semi­ These securities are now being offered at private sale.
annual. Certified check for 2% of bonds bid for, payable Authority vote of 113 to 13 at election held March 16 1907.
to the City Comptroller, is required. Accrued interest to be Denominations: 270 bonds of $1,000 each, three of $800,
paid by purchaser. Bonds will be certified to as to genuine­ one of $700, two of $500 and three of $300 each. Date
ness by the United States Mortgage & Trust Co. and their July 1 1907. Interest semi-annual. Maturity from 11 to
legality has been approved by J. H. Caldwell, Esq., of New 20 years,inclusive, as provided by the Idaho Irrigation Law.
York City.
The district has no bonded debt at present. It consists of
Scranton, Lackawanna County, P a.— No Action Yet Taken. about 25,000 acres,with an average valuation of about $40
— We are advised under date of March 19 that no further per acre. The estimated population is 3,000.
action has yet been taken on the Mayor’s recommendation to
Syracuse, Onondaga County, N. Y .— Bid Rejected.— An
issue the $1,000,000 street-improvement bonds mentioned offer of 101.12 and interest was received on April 24 from
in V. 84, p. 528.
H. T. Leake for the $225,000 4% registered high-school
Second Drainage District of Pointe Coupee Parish, La.— bonds described in V. 84, p. 887. This bid was rejected.
Tecumseh, Johnson County, Neb.— Bids Rejected.— Bond
Bond Offering.— Proposals will be received until 10 a. m.
May 22 (date changed from April 27, owing to an error in Offering.— All bids received April 16 for the $12,750 4 ^ %
original advertisement) by N. P. Phillips, President of Board 10-20-year (optional) electric-light-plant bonds described
of Commissioners (P. O. Torras), for $25,000 5% bonds. in V. 84, p. 768, were rejected. Proposals are again asked

NEW LOANS.
^ 2 5 0 ,0 0 0
m1 ,0 0 0 ,0 0 0
City of Allegheny, Pa., City of Allegheny, Pa.,

NEW LOANS.

NEW LOANS

^ 1 5 0 ,0 0 0

Kobertson County, Tenn.

Jud gm ent Fund Bonds

WATER BONDS

Pike Bonds

O ffic e o f th e C o m p tr o lle r ,
C ity o f A lle g h e n y .
A p ril 18, 190 7.
Sealed p rop osa ls w ill be r e c e iv e d a t th is o ffic e
u n til 3 p . m ., A pril 29, 1907, fo r th e p u rch a s e o f
th e w h o le o r a n y p a rt o f t w o h u n d re d fifty t h o u ­
sand d olla rs ju d g m e n t fu n d b o n d s o f th e c it y o f
A lle g h e n y , P a .
Said b o n d s are a p a r t o f an Issue
o f fo u r h u n d red th o u sa n d d o lla rs ju d g m e n t fu n d
b o n d s t o b o Issued b y said c it y .
O ne h u n d red
and fifty th ou sa n d d olla rs o f w h ich w ill b e taken
b y th e S in k in g F u nd C o m m issio n o f said c it y o f
A lle g h e n y .
Said b o n d s w ill be a r d a te A p ril 1.
1907, and w ill m a tu re as fo llo w s :
$16 ,0 0 0 00 p a y a b le A p ril 1, 1912, an d b o n d s
In th e a ggrega te a m o u n t o f $ 1 6 ,0 0 0 00 p a y a b le
on th e (list d a y o f A p ril o f each y e a r th e r e a fte r
fo r a p eriod o f t w e n ty -fo u r y e a rs .
Said b o n d s
w ill be issued in d e n o m in a tio n s o f o n e h u n d red
d o lla rs each o r m u ltip le s th e r e o f t o su it p u rch asers.
T h e a b o v e b o n d s will bear Interest at th e rate o f
f o u r p e r ce n t p er a n n u m
In terest p a y a b le s e m i­
a n n u a lly on th e first d a y s o f O c t o b e r an d A p ril
In ea ch y ea r at th e o ffic e o f th e C o m p tr o lle r In
th e c it y o f A lle g h e n y , P a ., o r m ailed b y c h e c k
t o th e registered h o ld e r th e r e o f w h e re v e r p u r ­
chasers m a y select.
A certified c h e c k on a n a tio n a l b a n k p a y a b le
t o th e o rd er o f th e C ity T rea su rer o f th e C ity o f
A lle g h e n y , P a ., fo r five p e r c e n t o f th e a m o u n t
o f b o n d s b id fo r , m u st a c c o m p a n y each p r o p o s a l.
In case o f aw ard said d e p o s it w ill a t th e tim e o f
d e liv e ry o f b o n d s be c r e d ite d on p a y m e n t o f
b o n d s p u rch a sed ; ch e e k w ill be re tu rn e d t o u n ­
su ccessfu l b id d e r s .
P u rch a sers m u st p a y t o th e
c it y a ccru ed in terest on b o n d s t o d a te o f d e p o s it ­
in g m o n e y .
T h e a b o v e b o n d s w ill b e aw ard ed t o th e b id d e r
w h ose p rop os a l w ill b e m o s t fa v o r a b le t o t h e c lt y .
T h e right is reserved t o r e je c t a n y an d all b id s
n o t d eem ed fo r th e Interest o f th e c it y .
B id s w ill be op e n e d b y th e M a y o r an d C o m p
tr o lle r In th e o ffic e o f th e C o m p tr o lle r In th e c it y
o f A lle g h e n y , P a ., on th e 29th d a y o f A p ril. 1907,
a t 3:15 o ’ c lo c k p . m .
A ll p ro p o sa ls m u st b o in d o rs e d ‘ 'P r o p o s a ls fo r
C ity o f A lle g h e n y B o n d s ” an d be add ressed t o
JA M E S B R O W N .
C o m p tr o lle r .

O ffic e o f th e C o m p tr o lle r ,
C ity o f A lle g h e n y ,
A p ril 18, 1907.
Sealed p ro p o s a ls w ill b e re ce iv e d a t th is o ffic e
u n til 3 p . m ., A pril 29, 1907, fo r th e p u rch a se
o f th e w h o le o r a n y p a r t o f o n e m illio n d olla rs
w a te r b o n d s o f th e c it y o f A lle g h e n y , P a .
Said
b o n d s w ill b e d a te d A p ril 1, 1907, an d w ill m a tu re
as fo llo w s :
$33 ,0 0 0 00 p a y a b le A p ril 1, 1908.
$ 3 3 ,0 0 0 00 p a y a b le each y e a r fo r a p e rio d o f
n in e te e n yea rs th e re a fte r.
$ 3 4 ,0 0 0 00 p a y a b le A p ril 1, 1928.
$34 ,0 0 0 00 p a y a b le on th e first d a y o f A p ril o f
e ach y e a r fo r a p e rio d o f n in e ye a rs th e re a fte r.
Said b o n d s w ill be issued In d e n o m in a tio n s o f
o n e h u n d red d olla rs ea ch o r m u ltip le s th e r e o f t o
s u it pu rch a sers.
T h e a b o v e b o n d s w ill b e a r in te re s t a t th e ra te
o f fo u r p er ce n t p e r a n n u m : Interest p a y a b le sem i­
a n n u a lly on th e first d a y s o f O c t o b e r an d A p ril
In each y e a r at th e o ffic e o f th e C o m p tr o lle r in
th e c it y o f A lle g h e n y , P a ., o r m ailed b y c h e c k t o
th e retristcred h o ld e r t h e r e o f w h e re v e r pu rch asers
m a y se le ct.
A certified c h e c k on a n a tio n a l b a n k ,p a y a b le
t o th e o r d e r o f th e C ity T reasu rer o f th e c it y o f
A lle g h e n y , P a ., fo r five p e r c e n t o f th e a m o u n t
o f b o n d s bid f o r ,m u s t a c c o m p a n y each p r o p o s a l.
In case o f aw ard said d e p o s it w ill at th e tim e o f
d e liv e ry o f b o n d s b e c r e d ite d on p a y m e n t o f
b o n d s p u rch a se d : ch e e k w ill b e retu rn ed t o u n s u c ­
cessful b id d e rs .
P u rch a sers m u st p a y t o th e c it y
a ccru ed In terest on b o n d s t o d a te o f d e p o s itin g
m oney.
T h e a b o v e b o n d s w ill b e aw a rd e d t o th e b id d e r
w h o s e p r o p o s a l w ill b e m o s t fa v o r a b le t o th e c it y .
T h e rig h t is reserved t o r e je c t a n y a n d all b id s
n o t d eem ed fo r th e in te re s t o f th e c it y .
B id s
w ill b e o p e n e d b y th e M a y o r an d C o m p tr o lle r a t
th e o ffic e o f th e C o m p tr o lle r In th e c it y o f A lle ­
g h e n y . P a ., o n th e 29th d a y o f A p ril, 1 90 7, a
3:15 o c lo c k p . m .
A ll p ro p o s a ls m u st b e In dorsed ‘ 'P r o p o s a ls fo r
C ity o f A lle g h e n y B o n d s ” a n d be add ressed t o
JA M E S B R O W N ,
C o m p tr o lle r .

S ealed b id s w ill b e r e c e iv e d u n til J U N E 1 S T ,
1 90 7, 12 O C L O C K N O O N , fo r th e sale o f
($ 1 5 0 ,0 0 0 00) O ne h u n d re d an d fift y th o u s a n d
D o lla rs o f R o b e r t s o n C o u n ty , T e n n e ssee, 4 %
C o u p o n P ik e B o n d s , t o b e issued J u ly 1st, 1907,
t o run fo r 30 y e a rs, w ith 2 0 -y e a r o p t io n , In terest
p a y a b le S e m i-A n n u a lly .
T h e assessed v a lu e o f p r o p e r t y In R o b e r t s o n
C o u n t y , T e n n e sse e , Is $5,556,r>70 00.
R o b e r ts o n C o u n ty has n o o th e r In d eb ted n ess
o f a n y k in d .
T h e rig h t t o a c c e p t o r r e je c t a n y o r all b id s Is
reserved.
A d d re s s all b id s t o Clias. E . B e ll, S e c ’ y . S p rin g ­
fie ld , T e n n .
B . C. B A T T S ,
1
J . E . W A S H I N G T O N , ^ C om m ittee.
J. A . C R O C K E R ,
j
CH AS. E. B E L L ,
J

# 4 0 0 ,0 0 0

City of

Minneapolis
bonds

S ealed b id s w ill b e r e c e iv e d b y th e C o m m itte e
o n W a y s an d M eans o f th e C ity C o u n cil o f th e
C ity o f M in n ea p olis a t th e o f fic e o f th e u n d e r ­
s ig n e d , T H U R S D A Y , M A Y 9 , 1907, a t 2 o ’ c lo c k
p . m ., fo r th e w h o le o r a n y p a r t o f $40 0 ,0 0 0 00
C ity o f M in n e a p o lis b o n d s .
S aid b o n d s b e a r In terest a t th e ra te o f fo u r (4)
p e r c e n t p e r a n n u m , d a te d J u ly 1st, 1 90 7, an d
p a y a b le J u ly 1st, 1937.
T h e rig h t t o r e je c t a n y o r all b id s is r e s e r v e d .
A c e rtifie d c h e c k on a n a tio n a l b a n k fo r t w o (2)
p e r c e n t o f th e p a r v a lu e o f th e b o n d s , m a d e t o
C. S . H u lb e rt. C ity T re a s u re r, m u s t a c c o m p a n y
e a ch b id .
C ircu lar c o n t a in in g fu ll p a rticu la rs w ill b e
m a ile d u p o n a p p lic a tio n to
D A N . C. B R O W N ,
C ity C o m p tr o lle r .

INVESTMENT BONDS
R.

L.

DAY

&

CO.,

BAN KE RS .
So Congress Street,
BOSTON.

Denison & Farnsworth, Albert Kleybolte & Co.,
409

BOSTON
C L E V E L A N D and P H IL A D E L P H IA .

N E W YO RK.

New York C ity Bonds

C ertificates e n gra ve d Id best m anner, or n a rtlr
lith ograp h ed and partly p rin ted

ALBERT B. KING.& CO., 2'J6 Broadway, N. Y.

S treet,

Municipal,
County, State,

BO NTDS wlSoSr C O U PO N S
with steel-D late borders, orlithographed, or part­
ly primed fromtype. If the latter, then ean be
D E L I V E R E D IN F E W D A Y S

W a ln u t

C IN C IN N A T I, O.

3 Nassau S treet,

E X E M P T F R O it t S T A T E , C O U N T Y
AND C IT Y T A X E S




L is t s u p o n r e q u e s t .

and

H ig h -G r a d e P u b lic
S e c u r itie s
C o rre sp o n d e n ce S olicited

S e r v ic e

1016

THE CHRONICLE.

for these bonds, this time until May 14.
City Clerk.

C. M. Wilson is

Tilden, Madison County, Neb.— Bond Sale.— On April 6
the $18,000 5% 10-20-year (optional) coupon water-works
bonds described in V. 84, p. 768, were awarded to the Elkhorn Valley Bank of Tilden at par. No other bids were re­
ceived.
Troy, Rensselaer County, N. Y .— Revenue Bond Offering.—
Proposals will be received until 11 a. m. April 29 by H. W.
Gordinier, Comptroller, for $100,000 4% revenue bonds.
Authority Section 96, Chapter 182, Laws of 1898, as amended,
also an ordinance adopted by the Common Council on Dec. 20
1906 and approved by the Mayor on Jan. 4 1907. Date
April 29 1907. Maturity Oct. 19 1907. Certified check
for 1% of bonds, payable to the City of Troy, is required.
Accrued interest to be paid by purchaser.
Bond Sale.— On April 10 the $21,150 4% public-improvement bonds, mentioned in V. 84, p. 768, were awarded to
Arthur Smith at par. Denomination $1,057.50.
Date
Dec. 1 1906. Interest semi-nnual. Maturity $1,057.50
yearly.
Tuscaloosa County (P. O. Tuscaloosa), Ala.— Price Paid
for Bonds.— We are informed that the price paid by Seasongood & Mayer of Cincinnati for the $75,000 5% court-house
bonds awarded to them on April 9 (V. 84, p. 957) was 102—
a basis of about 4.861%. Denomination $1,000. Date
July 1 1907. Interest semi-annual. Maturity twentyfive years.
Upton, Worcester County, Mass.— Note Sale.— On April 13
$12,000 4% funding notes were awarded to the Worcester
County Institution for Savings of Worcester. Date April 13
1907. Interest semi-annually in April and October. Ma­
turity Jan. 1 1917.
Utica, Oneida County, N. Y .— Bond Sale.— On April 19
the four issues of 4% registered paving bonds aggregating
$34,667 93, described in V. 84, p. 887, were awarded to
Isaac W . Sherrill of Poughkeepsie at par and accrued interest.
Bond Offering.— This city will offer at public auction at
12 m. on May 3, at the City Clerk’s office, the following
bonds:

$ 50 ,000 4 % p u b llc -Im p r o v e m e n t b o n d s . A u th o r it y C h a p te r 188 , L a w s o f
1906. D e n o m in a tio n $ 2 ,5 0 0 .
M a tu rity $ 2 ,5 0 0 y e a r ly on
M a y 1 fr o m 1917 t o 1936 In clu sive.
50,0 0 0 4 % p u b llc -lm p r o v e m e n t b o n d s . A u th o r it y C h a p ter 9 3 , L a w s o f
1891, as am en ded b y C h a p te r 131, L a w s o f 190 7.
D e n o m in a ­
tio n $ 5 ,0 0 0 . M a tu rity $5,0 0 0 y e a r ly o n M a y 1 fro m 1927 t o
/!>1936 In clu sive.

May 1 1907. Interest semi-annual. Successful
bidder to deposit a certified check for 1% of bonds bid for,
drawn on a national bank or a New York State bank or
trust company and payable to the City Treasurer, is required.
John J. Bannigan is City Treasurer.
Wakefield, Middlesex County, Mass.— Temporary Loan.—•
This town has borrowed $40,000 for six months from Loring,
Tolman & Tupper of Boston at 4.87% discount.
Washington County (P. 0 . Washington), Pa — Bond Of­
fering.— Proposals will be received until 12 m. May 1 by the
County Commissioners for $100,000 4% coupon road-improvement bonds. Denomination$1,000. Date May 1 1907.
Interest semi-annually at the County Treasurer’s office. Ma­
turity on May 1 as follows: $5,000 in 1915, $5,000 in 1916
and $10,000 yearly from 1917 to 1925 inclusive. These
bonds are subject to tax in Pennsylvania. Certified check
for $1,000, payable to the County Cnmmissioners, is re­
quired. H. R. Campbell is Clerk of the County Commis­
sioners .
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Washington C. H ., Fayette County, Ohio.— Bond Offering.
— Proposals will be received until 12 m. May 20 by James
J. Flynn, City Auditor, for the $6,000 sewer, drain and ditch
and the $9,000 street and highway-improvement 4% coupon
bonds mentioned in V. 84, p. 712. Denomination $500
Date June 15 1907. Interest semi-annually at the City
Auditor’s office. Maturity one bond yearly on June 15 from
1908 to 1937 inclusive. Bonds are exempt form taxation.
Certified check for $100, payable to the Treasurer of Wash­
ington C. H ., is required. Bonded debt, at present, $66,555.
Wauseon School District (P .O . Wauseon), Fulton County,
Ohio.— Bond Sale.— On April 25 the $35,000 4 y2°/0 schoolbuilding bonds described in V. 84, p. 888, were awarded, it

NEW LOANS.

# 1,000,000

CITY OF CHARLESTON, S. G,
4 % 30- Year Bonds
T h e C ity o f C h a rle sto n p ro p o s e s t o o ffe r O n e b o n d s , h o w e v e r , t o be Issued u p o n c a n c e lla tio n
M illio n D o lla rs ($ 1 ,0 0 0 ,0 0 0 ) o f 3 0 -y e a r b o n d s , o f sim ila r a m o u n ts o f th e 4 P e r C en t C o u p o n
w ith Interest at 4 p er c e n t, p a y a b le s e m i-a n n u a lly , B o n d s o f th e C ity o f C h a rle s to n , fa llin g d u e J a n u ­
o n th e 1st o f J u ly a n d J a n u a r y , u n d e r th e a u th o r ­ a r y 1 o r J u ly 1, 1909, w h ich m a y be h e ld b y th e
it y o f an A c t o f th e G en eral A s s e m b ly , e n t itle d , C ity o f C h a rle s to n , o r p u rch a s e d u n d e r th e term s
A n A c t t o a u th o riz e th e C ity C o u n c il o f C h a rle s­ o f th e b id n e x t h e re a fte r c a lle d fo r .
T H I R D . — F o r th e sale o f p o r t io n o f th e p re se n t
t o n , S. C ., t o Issue C o u p o n B o n d s a t a ra te o f
In terest n o t e x c e e d in g 4 p e r c e n t p er a n n u m , fo r Issue o f 4 P e r C e n t C o u p o n B o n d s o f th e C ity o f
th e p u rp o s e o f ta k in g u p o r e x c h a n g in g th e 4 p e r C h a rle sto n m a tu rin g J u ly 1 o r J a n u a r y 1. 1909,
c e n t c o u p o n b o n d s o f said c it y , m a tu rin g o n n o t e x c e e d in g $ 1 ,0 0 0 ,0 0 0 , w ith all C o u p o n s
J a n u a r y 1 an d J u ly 1. 1 9 0 9 ,” a p p r o v e d o n th e t h e r e to a tta c h e d fa llin g d u e a fte r J u ly 1, 1907,
p a y a b le In cash o n th e first d a y o f J u ly , 1907.
13th d a y o f F e b ru a r y , 1907.
In th e e v e n t o f o v e r -s u b s c rlp tlo n a t a c c e p t a b le
A n d o f an O rd in a n ce o f th e C ity o f C h a rle sto n
e n t itle d , " A n O rd in a n ce t o p r o v id e fo r Issuing figu res In a n y o f th e a b o v e cases a p r o p o r t io n a t e
C o u p o n B o n d s w ith in terest a t th e rate o f 4 p er a llo t m e n t w ill be m a d e .
E a ch su c c e s s fu l b id d e r w ill b e r e q u ire d t o d e ­
c e n t p er a n n u m fo r th e p u rp o s e o f ta k in g u p o r
e x c h a n g in g th e 4 p er c e n t C o u p o n B o n d s m a tu r in g ; p o s it w ith C ity T re a su re r w ith in 24 h o u rs a satis­
o n J a n u a ry 1 a n d J u ly 1, 1 9 0 9 ,” ra tifie d o n th e f a c t o r y S u r e ty B o n d o r a c e rtifie d c h e c k fo r 5 p er
12th d a y o f M a rch , 1907; “ In e x c h a n g e fo r O ne c e n t o f th e a m o u n t o f b id a w a r d e d t o h im as se­
M illio n D o lla rs ($ 1 ,0 0 0 ,0 0 0 ) o f th e a fo re sa id 4 p er c u r it y fo r his c o m p lia n c e w ith th e te rm s o f th e
c e n t C ity o f C h a rle sto n 4 P e r C e n t C o u p o n b id ; a n d in th e e v e n t o f n o n -c o m p lia n c e , sea led
B o n d s , m a tu rin g J a n u a r y 1 o r J u ly 1, 190 9, w ith b id s t o b e c a lle d fo r a t a p e rio d n o t less th a n 15
a ll c o u p o n s o n th e said b o n d s fa llin g d u e s u b s e ­ d a y s fo r th e a m o u n t d e fa u lte d o n , a n d a n y lo ss
q u e n t t o J u ly 1, 190 7, a n d fo r th is p u r p o s e In vites t o th e c it y b y re a so n o f th e re -s a le t o b e d e d u c t e d
o u t o f th e d e p o s it o r t o b e p a id b y th e m ak ers o r
t h e fo llo w in g :
S e a le d b id s w ill b e r e c e iv e d b y th e C ity T re a s ­ su re tie s o n th e b o n d s o f b id d e rs.
u re r o n o r b e fo r e 12 o ’c lo c k o n W E D N E S D A Y ,
I n th e e v e n t o f a n y b id d e r n o t d e p o s itin g a
c e rtifie d c h e c k o r a b o n d w ith in 24 h o u r s , th e c it y
M A Y 15. 1907.
F I R S T .— F o r th e p u rch a se o f a ll o r a n y p o r tio n t o h a v e th e rig h t e ith e r o f c a n c e lin g th e said b id
o f an issu e o f $ 1 ,0 0 0 ,0 0 0 o f th e a fo re sa id 3 0 -y e a r a n d o f a c c e p t in g th a t o f a n o th e r b id d e r , o r o f
4 P e r C e n t B o n d s ; th e p rin c ip a l p a y a b le In 4 P e r h o ld in g th e b id d e r lia b le th e re o n .
C en t C o u p o n B o n d s o f th e C ity o f C h a rle s to n ,
T h e c it y fu r th e r reserves t h e rig h t t o r e je c t
m a tu rin g J a n u a r y o r J u ly , 190 9, w ith a ll C o u p o n s a n y o r a ll b id s m a d e .
th e r e o n fa llin g d u e s u b s e q u e n t t o J u ly 1, 1907;
T h ese B o n d s are e x e m p t fro m S ta te , C o u n t y
a n d a n y p rem iu m b id p a y a b le In ca sh ; s e t t le ­ a n d C ity T a x e s , a n d In th e h a n d s o f b a n k s In
m e n ts t o b e m a d e o n J u ly 1, 1907.
C h a rle sto n e x e m p t th eir sh a re h o ld e rs fro m a ll
S E C O N D .— F o r th e p u rch a se o f a ll o r a n y p o r ­ ta x e s t o th e e x t e n t o f th e h o ld in g as Is n o w th e
t io n o f an Issue o f $ 1 ,0 0 0 ,0 0 0 o f th e a fo r e s a id c ase w ith 4 ^ per c e n t B r o w n S ta te B o n d s .
3 0 -y e a r 4 P e r C en t B o n d s , p a y a b le In ca s h ; said

Mac Donald,McCoy & Co.,
MUMidPAL AMD CORPORAT/0M
BONDS.
xSi La Salle Street, Chicago.

Specialists in New Jersey Securities.

e is e l e & K in g ,
BANKERS,
Members o f New York and Philadelphia
S to c k Bxehanges.
Private W ires to
H .Y. and Philadelphia.

7 3 7 -7 5 9 B road S t.

6 0 State Street, Boston
30 M A S S A C S T K K K T . M B W T O R & ,

STATE, CITI k RAILBOAB BONDS.



NEW LOANS.
# 100,000
Washington County, Pa.
improvement Bonds
S ealed p ro p o s a ls are in v ite d fo r th e p u rch a se o f
$ 1 0 0,00 0 4 % ro a d im p ro v e m e n t b o n d s, t o be
issued b y W a s h in g to n C o u n ty , P a ., t o bea r d a te
o f M ay 1st, 1907, and m a tu rin g $ 5 ,0 0 0 in each
o f th e yea rs 1915 an d 1916, an d $ 1 0 ,0 0 0 In each
y e a r th e re a fte r.
B id s t o be p re se n te d t o th e C o u n ty C om m is­
sio n e r’ s o ffic e , W a s h in g to n , P a ., on o r b efore
W e d n e s d a y , M a y 1st, a t n o o n , a c c o m p a n ie d b y
a ce rtifie d c h e c k fo r $ 1 ,0 0 0 t o g u a ra n tee c o m ­
p lia n c e w ith b id .
R ig h t re serv ed t o r e je c t a n y o r all b id s .
H . R . CAM PBELL.
C o m m is s io n e r ’s C lerk .

ERVIN & COMPANY,
BA N K ER 8,
M

-

(New York Steck Exchange,
8?Philadelphia Stock Bxchange.

BONDS

FOR

IN V E S T M E N T .

43 Exchange Place,
Hew York

Drexel Building,
Philadelphia.

Adrian H. Muller & Son
A U C T IO N E E R S .

Regular Weekly Sales
or

STO C K S and BONDS

EYEBY WEDNESDAY.
Office No. 66

WILLIAJfll

UTRKET

C o rn er P in * S tr e e t.

K W i.S K .

Blodget, Merritt & Co , F. B. SHERMAN & CO.
BANKERS,

[Vol.. LXXXIV.

MUNICIPAL )
AND
bonds
CORPORATION)
205 La Salle Street, CHICAGO

M UNICIPA L AND RAILROAD

BONDS.
L IS T ON AP P L IC A T IO N .

SEAS0NG00D & MATER,
M e r c a n t i l e L i b r a r y B u i l d i n g ;,
C IN C IN N A T I.

1017

THE CHRONICLE.

A p b . 27 1907.j

is stated, to the Western German Bank of Cincinnati for to 1943 inclusive and $3,000 yearly from 1944 to 1947 in­
clusive. The new issue was awarded on April 15 to Kountze
$36,580, the price thus being 104.514.
Westchester County (P. 0 . White Plains), N. Y .— Bond Brothers of New York City at 100.68.
Offering.— Proposals will be received until 2 p. m. May 6 by
Woonsocket, R. I .— Bond Bills Pass Legislature.— The
Joseph B. See, County Treasurer, for the following bonds:
bills authorizing this city to issue $200,000 refunding and
$ 2 7 ,6 7 7 04 4 % registered te m p o r a r y lo a n b o n d s .
D e n o m in a tio n $ 5 ,0 0 0 ,
$200,000 funding bonds have passed both Houses of the
e x c e p t o n e b o n d fo r $2,677 0 4 . L o a n m a tu re s Ju n e i, 1910.
27 5 ,0 0 0 00 4 % registered c o u r t-h o u s e b o n d s .
D e n o m in a tio n $5,000.
M a­
State Legislature.
tu r ity $ 2 0 ,0 0 0 o n Ju n e 1 1926, $ 2 5 ,0 0 0 o n Ju n e 1 1927,
$35 ,0 0 0 o n Ju n e 1 192 8, $25 ,0 0 0 o n Ju n e 1 1929, $ 15 ,000
Wyandotte, Wayne County, Mich.— Bond Sale.— This city
on Ju n e 1 o f ea ch o f th e yea rs 1930, 1931 an d 1933; $35 ,0 0 0
has awarded $20,000 5% coupon Oak Street paving bonds
on Ju n e 1 193 4, $40 ,0 0 0 Ju n e 1 1935 and $ 5 0 ,0 0 0 o n Ju n e 1
offered on April 11 to the Wyandotte Savings Bank of
1936.
64,5 7 9 75 4 % registered fu n d in g b o n d s .
D e n o m in a tio n $ 5 ,0 0 0 , e x c e p t
Wyandotte. Denomination $1,000. Date May 1 1907.
on e b o n d o f $ 4 ,5 7 9 7 5 . M a tu rity $24 ,5 7 9 75 on Ju n e 1
Interest annually at the Wyandotte Savings Bank. Matur­
1928 an d $ 2 0 ,0 0 0 on Ju n e 1 o f ea ch o f th e y e a rs 1931 an d
1933.
ity $4,000 yearly on Nov. 1 from 1907 to 1911 inclusive.
Securities are dated June 1 1907. Interest semi-annually Accrued interest to be paid by purchaser.
at the County Treasurer’s office in White Plains. Certified
Yonkers, N. Y .— Bond Sale.— On April 26 the two issues
check for 5% of bonds bid for, drawn on a State or national
bank or trust company, is required. These securities will be of 5% 2 % -year assessment bonds, aggregating $51,750, weie
certified to as to their genuineness by the United States awarded to the People’s Savings Bank of Yonkers at 100.595.
York, York County, Neb.— Bond Offering.— Proposals will
Mortgage & Trust Co. of New York City.
Westerville, Franklin County, Ohio.— Bond Sale.— On be received until 7 p. m ., May 13, by George S. Newton,
April 15 the $3,000 4 ^ % 193^-year coupon electric-light- City Clerk, for $15,000 intersection-paving bonds at not ex­
plant bonds described in V. 84, p. 651, were awarded to ceeding 5% interest. Date May 1 1907. Interest semi­
Otis & Hough of Cleveland for $3,070, the price thus being annually at the Nebraska Fiscal Agency in New York City.
Maturity May 1 1927. Certified check for 2% of bonds
102.333— a basis of about 4.322%.
West Seneca (Town), Erie County, N. Y .— Bond Sale.— bid for is required.
Youngstown, Ohio.— Bond Offering.— Proposals will be
On April 25 the $225,000 5% sewer bonds described in V. 84,
p. 889, were awarded to Meadows, Williams & Co., of Buffalo, received until 2 p . m . May 6 by W m, I. Davies, City Auditor,
for the following bonds:
and Otis & Hough of Cleveland at 106.27.
a k H ill A v e n u e p a v in g b o n d s . M a tu r ity $ 10 ,175 y e a r ly o n
Wilmington School District (P. O. Wilmington), Newcas­ $ 5 0 ,8 7 5 5 % O
O c t . 1 fro m 1908 t o 1912 in c lu s iv e .
1 4 ,2 5 0 5 % F r o n t an d Canal Street p a v in g b o n d s . M a tu rity $2,8 5 0
tle County, Del.— Bond Offering.— Proposals will be received
y e a r ly o n O c t . 1 fro m 1908 t o 1912 In clu siv e .
until 8 p. m. May 13 by the Board of Eucation for $60,000
1,295 5 % s id e w a lk -c o n tr a c tio n b o n d s .
M a t u r it y $259 y e a r ly o n O c t . 1
4% coupon school-building bonds. Denomination $1,000.
fro m 1908 t o 1912 In clu siv e.
Maturity $20,000 in each of the years 1913, 1914 and 1915.
The above bonds will be dated May 13 1907. Interest
Bids must be made on forms prepared by the Board of E du­ semi-annually at the office of the City Treasurer. Bids must
cation. Harry J. Guthrie is Secretary of Board o f Educa­ be made for each block of bonds separately and must be
tion.
accompanied by a certified check for 2% of the bonds bid for,
W oodbury, Gloucester County, N. J.— Bond Sale.— No payable to the City Auditor. Purchasers must be prepared
sale was made on April 8 of the $84,000 4% coupon sewer to take the bonds not later than May 13, the money to be
bonds described in V. 84, p. 830. The city subsequently delivered at one of the banks in Youngstown or at the City
changed the issue to 43^s, maturing $2,000 yearly from 1908 Treasurer’s office.

MISCELLANEOUS.

INVESTMENTS.
A Financial Courtship
Or a Plea for Conservative
Investments

O F F IC E

OF

TH E

ATLANTIC MUTUAL INSURANCE COMPANY.
N e w Y o r k , J a n u a r y 2 2 d , 1907.

(B y P ran k W . R o W a t)

The above book will be furnished
w i t h o u t cost on application to
E. H. ROLLINS & SONS, 21 Milk
St., Boston.

Perry, Coffin & Burr,
INVESTMENT BONDS.

T ie Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs
on the 31st of December, 190 6.
$ 3 ,1 9 0 ,2 4 1 67
P re m iu m s o n M arin e R isk s fr o m 1st J a n u a r y , 190 6, t o 3 1st D e c e m b e r , 1 9 0 6 . . ------P re m iu m s o n P o licie s n o t m a r k e d o ff 1st J a n u a r y , 1 9 0 6 -----------------------------.------------- 582 ,1 9 1 98
T o t a l M arin e P r e m iu m s --------------------------------------------- ------------------------------------------------ ------------

$ 3 ,7 7 2 ,4 3 3 65

P re m iu m s m a rk e d o ff fro m 1st J a n u a r y , 1 9 0 6 , t o 3 1st D e c e m b e r , 1 9 0 6------------------I n te re s t r e c e iv e d d u rin g th e y t a r ___________________________ $3 5 6 ,4 5 7 98
R e n t , less T a x e s a n d E x p e n s e s ______________________________ 125 ,501 85
$48 1 ,9 5 9 83

$ 3 ,0 8 1 ,7 1 4 32

L osses p a id d u rin g th e y e a r w h ic h w e re e s tim a te d In 1905
a n d p r e v io u s y e a r s ______________________________________$ 3 0 9 ,8 1 7 14
L o sse s o c c u r r e d , e s tim a te d a n d p a id in 19 0 6 ________ _____ 1 ,0 0 9 ,2 2 4 32 $ 1 ,3 1 9 ,0 4 1 46
L ess S a lv a g e s _______________________ $ 1 0 7 ,1 7 6 57
R e -ln s u r a n c e s ______________________ 1 5 0 ,1 9 0 74

60 State Street,
BOSTON.

T H E SOUTH.
Property and Investments of every
Kind in all Southern States.

METROPOLITAN INVESTMENT 0 0 .,
G EO . B. EDWAHDS. President, Charleston, 8 . C..

E sta b lish e d 1 8 8 3 .

H. C. Speer & Sons Co.
First Nat. Bank Buil4ing, Chicago
C ITY COUNTY
Q A M R C
AND TOWNSHIP M v N U O j

VICKERS &

PHELPS.

29 Wall St.,
New York
National Starch Manufacturing Co.
1st Gold 6 %
THE

NORTHERN AUDIT CO.
Sit Broad w ar. New York

0HAS. GRISWOLD BOURNE, President
Telephone 4598 Broad




2 5 7 ,3 6 7 31
$ 1 ,0 6 1 ,6 7 4 15

R e tu r n s o f P r e m iu m s ___________________ ___________________________ _________
$ 62 ,411 11
E x p e n s e s , In clu d in g o ffic e r s ’ salaries a n d c le r k s ’ c o m p e n s a t io n , s ta ­
t io n e r y , n e w s p a p e rs , a d v e r tis e m e n ts , e t c _______ ______ ______________
$ 3 4 4 ,0 9 8 27
T h e C o m p a n y has t h e fo llo w in g A sse ts, v iz .:
U n ite d S tates a n d S ta te o f N ew Y o r k S t o c k , C it y , B a n k a n d o th e r S e c u r itie s --------S p e cia l d e p o s its in B a n k s a n d T ru s t C o m p a n ie s ------------------------------------------------------------- R e a l E sta te c o r n e r W a ll a n d W illia m S t s ., a n d E x c h a n g e P la c e ______$ 4 ,2 9 9 ,0 0 0 00
O th e r R e a l E s ta te a n d cla im s d u e th e C o m p a n y ._______________________
7 5 ,0 0 0 00
P re m iu m n o te s a n d B ills R e c e iv a b le ------------------------------------------------------------------. - -------------C ash in h a n d s o f E u ro p e a n B a n k ers t o p a y losses u n d e r p o lic ie s p a y a b le In fo re ig n
co u n trie s.^ ___________________ ______________ — — ------------------------------------ ---------------------C ash In b a n k __________________________________— --------------------------------------------------------------------A g g re g a tin g

.V .............................. ................................... ..

$ 5 ,6 9 7 ,108 00
700 ,966 67
4 ,3 7 4 ,000 00
1,191 ,974 88
271 ,142 54
562 ,631 63
$ 1 2 ,7 9 7 ,8 2 3 72

A d iv id e n d o f Six p e r c e n t Interest o n t h e o u ts ta n d in g c e rtifica te s o f p r o fits w ill b e p a id t o the
h o ld e rs t h e r e o f, o r th eir legal r e p r e s e n ta tiv e s , o n an d a fte r T u e sd a y th e F ifth o f F e b ru a ry n e x t.
T h e o u ts ta n d in g c e rtifica te s o f th e issu e o f 1901 w ill b e r e d e e m e d a n d p a id t o th e h o ld ers th e r e o f,
o r th e ir legal re p r e s e n ta tiv e s , o n an d a fte r T u e sd a y th e fift h o f F e b ru a ry n e x t , fro m w h ic h d ate
all in te re st th e re o n w ill ce a se .
T h e c e rtifica te s t o b e p r o d u c e d a t th e tim e o f p a y m e n t , a n d c a n c e le d
A d iv id e n d o f F o r ty p e r c e n t Is d e cla re d o n th e n e t earn ed p re m iu m s o f t h e C o m p a n y fo r th e
y e a r e n d in g 3 1st D e ce m b e r , 1 90 6, fo r w h ic h , u p o n a p p lic a t io n , c e rtifica te s w ill b e Issued o n and
a ft e r T u e sd a y th e s e v e n th o f M ay n e x t .
B y o r d e r o f the B o a rd ,
G. S T A N T O N F L O Y D -J O N E S . S e cre ta ry .

TR U STE E S .
G U S T A V A M S IN C K .
F R A N C I S M. B A C O N ,
JO H N N. B E A C H ,
W IL L IA M B. B O U L T O N ,
VERNON H. BROW N.
W A L D R O N P. BR O W N .
JOSEPH H . CH APM AN ,
G E O R G E C. C L A R K .
CLEVELAN D H. DODGE,
C O R N E L IU S E L D E R T ,
R IC H A R D H . E W A R T ,

H E R B E R T L . G R IG G S ,
C L E M E N T A . G R IS C O M ,
AN SON W . H A R D .
M O R R IS K . JE SU P ,
L E W IS CASS L E D Y A R D ,
F R A N C IS H . L E G G E T T ,
C H A R L E S D. L E V E R IC H ,
L E A N D E R N. LO V E LL ,
GEORGE H. M ACY,
CH ARLES H. M ARSH ALL,

W . H. H. M OORE,
N IC H O L A S F . P A L M E R ,
H E N R Y P A R IS H ,
D A LL A S B. P R A T T ,
G E O R G E W . Q U IN T A R D ,
A. A. RAVEN,
JO H N L. R IK E R ,
D O U G L A S R O B IN S O N ,
G U STAV H. SCH W AB,
W IL L IA M A . S T R E E T .

A . A . R A V E N . President.
C O R N E L I U S E L D E R T , V ice-P residen t..
J A M E S L . L I V I N G S T O N , 2d Vice-President.
S A N F O R D E . C O B B , 3d Vice-President.
C H A R L E S -E . F A Y , 4th Vice-President.

101*

THE CHRONICLE.

_____________ financial________-

H

arris

T

& S

rust

(Organized as N. W . H arris

& Co.

1882 .

____

B ank

a ving s

Incorporated 1907 .)

C A SURAPLU8 D $ 1 1 , 0 0 0 , 0 0 0

T itle g u a r a n t e e

JjOnns M o n e y o n B o n d a n d M o r t g a g e .

Furnishes Mortgages to Investors.

Correspondence Invited

R e c e i v e s D e p o s i t s s u b j e c t t o ch eclc, a l l o w i n g
In te rest.
D o e s a ll T ru st C o m p a n y B u sin e ss.

M A R Q U E TTE BUILDING,

- CH IC AG O

AS AN IN V E S T M E N T
There s notlnng more safe, more sure, more profitable—in the telephone
business— than the securities of an Independent telephone company operating
our AUTOMATIC TELEPHONE SYSTEM—
BECAUSE it gives more service, better service, prompter service, more accurate
service, than a manual system (and also an absolutely secret service, which
no manual system can give), and
BECAUSE it costs less to operate, less to maintain, less to enlarge than a manual
system, or
TO SUM IT ALL UP, the AUTOMATIC TELEPHONE SYSTEM produces a
better telephone service, commanding a higher price, at less cost than in­
ferior service can be produced for by a manual system.
THAT IS THE REASON W HY the AUTOMATIC TELEPHONE SYSTEM
makes the securities of the company using it safe, stable and profitable,
and why it has been adopted by the Independent telephone companies in
the following cities:
Medford, WIs.
Mlamlsburg Ohio
Mt. Olive, 111.
New Bedford. Mass.
Oakland, Cal.
Ocean Park Cal.
Omaha. Nebr.
Pentwater. Mich.
Portland. Me.
Portland. Ore.
Princeton. N. J.
R ichm ond, Ind.
R iverside, Cal.
Rochester, Pa.
Rushville, Ind.
San D iego, Cal.
San Francisco, Cal.

Santa Monica, Cal.
Saskatoon, Sask., Can.
Sioux City Iowa.
South Bend. Ind.
Spokane. Wash.
Springfield. Mo.
St. Mary’s, Ohio.
Tacom a, Wash
T oron to, Junction, Can.
Traverse City, Mich.
Urbana, Illinois.
Van W ert. Ohio.
W alla Walla Wash.
W ausau. Wis.
W esterly. R . 1.
W ilm ington, Del.
W oodstock, N . B. Can.

FINANCE COMMITTEE.
In Charge of Banking Interests
E D W AR D T. BEDFORD.
CLAR EN CE H . K E L S E Y .
E D G A R L. M ARSTON.
W IL L IA M H . NICH OLS.
JAMES H . O L IPH A N T.
C H A RLE S A. P E A B O D Y .
JACOB H . SCHIFF.
JAMES S P E Y E R .
E D W A R D O. ST AN LE Y
CLARENCE H. K ELSEY , President.
FR A N K B A IL E Y , Vice President.
ED W A R D O. ST AN LE Y, Second Vice President.
Manager Banking Department.
CLINTON D. BU RDICK, Third Vice President.
J . W R A Y CLEVELAN D, Secretary.
ARTH U R TE R R Y , Treasurer.
FRAN K L. SNIFFEN Manager Brooklyn Banking
Department.

THE INTERNATIONAL BANK,
60

C H IC A G O
1907

The United States Life

RANGE

O F PRICES

1 8 8 2 —1 9 06.

IN TER E ST P A ID ON T E RM D E PO SITS
T H O S . H . H U B B A R D , P re s id e n t.
J A M B S S. F E A R O N . V ic e -P r e s id e n t
J O H N H U B B A R D .V ice -P r e s id e n t.
J A M E S H . R O G E R S . C ashier.
C H A S . S. L I P P I N C O T T . A s s t. C a sh ier.

JO H N M. GILLESPIE,
Room No. 518 Atlantic Building,
48-61 Wall Stre«t.
NEW YORK.

'gugimtvs.
OUR ANNUAL

H. M. B r in c k e r h o ff ,

THE FINANCIAL REVIEW

F o rm erly G eneral M an ager and E lectrical
E n gin eer th e M e tro p o lita n W est Side Ele­
v a te d RH ., C hicago,

JOHN P. MUNN, M.D., President.
Finance Com m ittee

A S S O C IA T E D

Give* a monthly range of Stock and Bond Prices tor

CHRONICLE VOLUMES
1895-1905.
The volumes contain only one of each
of the Supplements.

C o n s u lt i n g E n g i n e e r s
60 W A L L ST .,

1887 issue,which gives 1882-1880
tt

ft

tt

1887-1891

1897

ft

tt

n

1892-1896

1902

tt

t

tt

1897-1901

1907

tt

tt

tt

1902-1906

1892




NEW YORK

Examinations, Design, Construction and
Operation
ELECTRICAL rROPERTIES
U n s a t i s f a c t o r y O p e r a t io n

In v e s tls a te d .

BEADLE & MAXWELL.
Gas and Electric
ENGINEERS

Some earlier issues may be had at $5 a
copy.

8 2 B e a v e r S t .,

NEW YORK

Examinations and Reports
PRICE $2 PER COPY.

ERNEST ABS-HAGEN, C.E., M.E.
%

Commercial & Financial Chronicle,
7 6 ^ Pine St., New York.

W IT H

Wm. Barclay Parsons,

W e can supply

five years.

Second-hand set

$ 6 0 0 ,0 0 0
1,750,000

F a cilitie s A ffo r d e d fo r T r a n s a ctin g
F o r e ig n a n d D o m e s tic B u sin ess . .

Issu es G auranteed C o n tra cts.

FOR SALE.

.

In d iv id u a l a n d C o m m e rcia l A c c o u n t s I n v it e d

U .S . A

FOR 25 YEARS.

IN THE CITY OF NEW YORK

G o o d m e n , w h eth er e x p e rie n ce d in life Insurance
o r n o t , m a y m a k e d irect c o n t r a c ts w ith th is C om
p a n y .f o r a lim ited te r rito r y If d e s ir e d ,a n d s ecu re
fo r th e m s e lv e s , In a d d it io n t o first y e a r ’s c o m m is ­
s io n , a renew al in terest Insuring an In co m e fo r the
fu tu r e .
A d d ress th e C o m p a n y at Its H o m e O ffic e ,
N o . 277 B r o a d w a y . N ew Y o r k C ity .

N. Y.

STREET.

Atlantis H a t w H n n r t o e t Com pany Scrip
o f A l l Year*
and H o ld .

Insurance Co.

JAMES R. PLUM____ _________ _______________ Leather
CLARENCE H . K EL SEY . Pres. Title Guar. A Tr.Oo.
WM. H . PORTER___Pres. Chemical National Bank

W ALL

Capital and Surplus, .
Deposits,
. . . . .

AUTOMATIC E L E C T R IC CO.,

Van Buren and Morgan Streets
1850

com pany

E x a m i n e s & g u a r a n t e e s R etU E s t a t e T i tle s ,

for* I n v e s t m e n t

El Paso, Texas.
Em aus, Pa.
Fall River. Mass
Grand Rapids Mich.
Hastings, Nebr.
H avana, Cuba.
Hazleton, Pa.
H olland, Mich.
Hopkinsville, K y.
Jonesboro, Ark.
Lake Benton, Minn.
Lewiston, Me.
Lincoln, Nebr.
L os Angeles, Cal.
Manchester, Iowa.
Marianao, Cuba
Marion, Ind.

RUST

176 Broadway, New York.
175 Remsen Street, Brooklyn.
198 Montague Street, Brooklyn Banking Dept.

Special facilities for Reserves,
counts of Banks, Individuals, Firms
and Corporations. (Jompleie equipment for handling Affairs o f Trust

Aberdeen S. D .
Akron, Ohio.
Allentown. Pa.
Auburn, Me.
Auburn, N . Y .
Battle Creek Mich.
Beaver Falls. Pa.
Bellingham. W ash.
Butte, Mont.
Cadillac, Mich.
Champaign, 111.
Chicago, 111.
Cleburne, Texas.
Columbus, Ga.
Columbus, Ohio.
D ayton, Ohio.
Denver Colo.

'gimtucixl.

andT

Capital and Surplus, $ 1 ,5 0 0 ,0 0 0

Bonds

[V o l . l x x x iv .

Commercial & Financial Chronicle

C O N S U L T IN G E N G IN E E R

W a te r Supply,

S ew erage System s.

P o w e r P la n ts

F x a tn ln n ti« * n s nn«« R e p o r t s on l .a t i n -

A in e ric a n I n d u s t r i a l P r o je c t s ti S p e c iu lt y

70)^ PINE STREET, NEW YORK

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N EW YORK