The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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finanrial
rmucle
to Act of Congress, in the year 1904, by William B. Dana Company, in the offloe of Librarian of Congress, Washington, D. U.
weekly newspaper entered lit Post Office. New York, as second-class matter— William B. Dana Company, Publishers, 765^ Pine St., N. Y.
Entered according
A
SATURDAY, APRIL 9, 1904
W). 2024
CLEARINGS—FOR MARCH 1904 AND 1903. CLEARINGS— WEEK ENDING APRIL 2, 1904.
VOL.
78.
ALSO SINCE JANUARY
1904
AND
Three Month*
March.
Clearings at
1904.
ALSO SAME WEEK IN
1903.
In. ot
1903.
Dec
1904.
1903.
4,804,002,990
Philadelphia..
Pittsburgh
Baltimore
BuOulo
Washington.
Albany
Rochester
Sera in. m.
14,054.553
10,
Greensburg....
Chester
Frederick
Total Middle
-262
—(T
+4-5
—1-7
—1-8
—30
—40
788,900
6,890,464,734
514.030.849
27.764.000
12,853 156
7,989,527
6.035,405
4,528,077
6,101 103
8,488,210
Springfield
Worcester
Portland
Fall River
Lowell
1,788,281
1,985.653
2.010.81b
Bedford..
Holyoke
Total N. Eng.
588,586,979
Chicago...
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis
Oata<nbus.
Peoria
Toledo
Grand Rapids...
Dayton.
Evans vllle
Akron.
111...
Youngstown.....
Kalamazoo
Lexington
Canton
Rockford
Springfield, Ohio
Bloomlngton. ...
8alnoy
ecatnr
Manstleld
Jacksonville, 111.
Jackson. Mich...
Ann Arbor
M West.
.
Seattle
Salt Lake City...
4-3-3
%
14,925,334,111 18,431,541,809
1,346,602.831 1.456,558,508
402.239.427
261.751,631
75.347 231
51,690,447
42,555,349
82.932,400
22,409,844
16,193,008
14,207.89
11,046.730
8,172,198
6,302,700
4,974.050
6,517,765
2.064,802
-190
—76
—221
—96
—07
—1-2
—70
593,092,981
289,531,611
75,865,941
52,333,994
45,755,429
32,776,897 +0-5
21,794,195 4-2-8
16,967,714 —46
14.461,657 —1-8
11.725,059 —5-8
9,632,071 -15-2
5.385,700 —1-5
5,822.337 -14-6
5,119,979 +73
2,108.454 —21
— 18-6 17,288,433,081 21,071,074,336
1904.
Dee.
New York
Philadelphia...
Pittsburgh.
Baltimore
Buffalo
Washington.
Albany
Rochester
Scranton
.
.
Syracuse
Wilmington....
Wilkes Barre-.
Wheeiing
Bingham ton
Greensburg..
Chester
764.506,371
97.173.800
66,460.250
41.171,714
83,923.768
28,720.blG
19.745.500
13,133,770
14,030,891
7,766,838
9.100.313
5,588.250
2,684.900
3,350,867
2,458,480
2,946.926
3,689,894
2,403,900
2,897.597
1.709,213
2,605,770
1,841.732
1,867.45 ;
849.604
1,096.453
937,567
878,778
s
—
612,441,071
753.714,227
96.270,000
70,052,59
42.025.210
30,913,059
24,073,931
19,433,200
11,944.870
13,365.608
7,212,672
7,341,893
4,923,430
2,611,300
3,571 ,830
2,938,338
2,881,508
3,064,467
2,142,547
2,166,638
1.939,141
2.529,313
1,824.200
1,186,781
129.046,892
10.990.M9
Tacoma
Helena.
8.144 34»
2,463,952
8.639,880
2,023 56V
8,042,909
sioif»v.aiis.'!;;.';
1,948.721
1,128.686
OmVha
Paul
Joseph
Denver
Des Moines
tt.
t.
Sioux City
Tepeka.
Davenport.
Wichita
Colorado Springs
Fremont
To. other West
Bt, Louis
New Orleans....
Louisville
Houston
Galveston
Richmond
Savannah
Memphis
Atlanta.
Nashville
Norfolk
Augusta
Fort
....
Knoxville
Macon
Chattanooga....
290,106,278
240,937.760
96,230.839
45,455,830
23,282.244
18,238.000
19,422,628
12.474,699
23,501,123
13,402,871
11,121,75?
7,234.578
6,124.979
7,025,273
5,840.468
5,181,060
5,277,975
4,865,000
3.516.184
Beaumont
2,100.901
Jacksonville, Fla
3815,616
Total South
Total alL....
Ontslde N. Y.
555.U73.771
8,383,106,30;
3,579.103,31;
--77
+252
+13-5
+2-8
-6-2
-163
+2 8
+20-8
4-122
4-10-7
—8-8
m
+154
630.912
892,000
...
396.77*)
. .
344.634
323,346
Brie
Reading
1.115.801
179,016
-67
-91
+123
+5-8
+217
—4-6
82.283,630
48,878.445
38,600.793
41.534.994
27.108,146
28.030.784
7,950,128
5,991380
Peoria
Toledo
Grand Rapids
Dayton
Kvansville
Akron.
—67
276,666.878
244364,661 +12-8
" i.879,882
183,8
163,221,716 4l27
96.309.246 +1^2
75,030,100 —4-9
64,918,435 —2-8
51.434,663
28,731,074
19,029,544 —14-0
18.480,336 —403
12,915,476 -0-2
10,484.877 +84-2
6,003,108 +30
2,594,629 —1-4
+62
836.576,458
708,818.291
336,192,336
135.973,656
92,053,066
58,852,500
60,900,751
43,330.714
78,410,338
42,546,163
35,019,117
22,089,899
19,886,945
25,189,589
17,139,258
14,938,001
15,839,157
12,529,000
10,430.246
6.219,906
10.636.030
276,139,877
202.580,146
62,208,04"
46,444,689
28.310,474
19,105.000
15,830.168
14,903.183
16.273,04
12,296.303
10,172.577
6,910,518
7,233,745
6,090,483
5,746,429
8,881.791
4.146.750
3,677,000
2,830.903
1,979.808
1.698.634
+189
+54-7
—21
-17-8
-4-6
+22-6
-163
+450
+9-0
fe
-15-3
+6-0
+1-6
+33-2
-r-27-3
+32-3
+24-2
+6-1
-r-125-
+0.9
m
+5-4
793.461,763
002.529. 803 +170
202,140, 214 +66-3
141,045 474 -3-6
80,840 758 +60
60,208 000 —22
50,041. 769 +217
49,976, 809 -13-3
52,938 787 +48'2
39,352 694 +8-1
+14-3
20.623 199 +6-9
—19-6
28.723 050
19,881 265 +267
31,509, 790
+21
10,788. 554
13,459 174 +11-0
12,316. 074
-
-28'0
11,290 000 --11-0
8,187, 821 - -274
6,199 944 +08
5,218 290 4-104-
472.931 693 +17-4 1.747.010.96; 1.405.2(55.9711 +209,582.278.070
3,578,067.741
— 125
+ 0-03
25.533,470,099 29,138,967,561
10,608.135,98s 10,708,425,752
aty
,
,
,
-124
-0-1
,
Fargo-....
,
Kansas City
Minneapolis
Oraaha
,
,
aty
vviohlta.
Colorado Springs
Fremont
Cedar Rapids
,
Total other West'rn
Louis
New Orleans
St.
Louisville.
Houston
Galveston
Richmond.
Savannah.
Memphis
Atlanta
Nashville
Norfolk
—325
—831
—23 2
+91
—176
+2-4
-3-1
—247
—12-0
+91
-6-1
—75
—140
Worth
Macon
Chattanooga
Guthrie
3,983.200
3,156,782
2,588.100
1,464,886
1.634,313
967,309
—26
688300
zM
784,030
660.266
433332
686380
797.023
435,333
364,406
807.150
861305
225,597
244,983
221,7441
186,214
82,145
+6-2
+63
3326,051
2.883.473
3.697.707
-*S«
2.488610
+»•!
-6-4
488300
994.780
-3-8
-7-1
+1-4
62.ft8.999
19383.163
18,111.872
12,738.358
7.461318
6.701.622
4.603.708
8,876,862
1.886.864
1,265.630
764.734
—28 6,
256381
48,421,772-
11.207,887
7,189,806
3.864.890
-3-4
—89
—120
-39
294.68'
357,882
"44.063.917
18314.312
8326,668
1332,441
—35-1
57,572,217
48,448.244
14,604.625
10,005.850
5.438.818
3,650.000
3.795.405
2.550,053
2.962.852
2,523.164
1,831,860
2346.466
1,647,126
1.621,869
1,725,030
592.078
500.000
151.616
—16*8
866.284 +22-3
430 838 +68
— 13-0
Not Include d
In to
61,665.784
—6'6
+5-6
45,881389
12.484,466
13,049,156
7,307.835
4.005.500
8.745,137
8.305.909
3.740.32O
2,597.874
2,334,704
1.450,735
1,438.108
1,672.121
1.433,098
828,935
850,897
+ 170
—16*4
—256
—8-9
+13
-223
—20-8
—29
—21-5
+139
—261
-26-3
—225
637,099
875.000
—25
+39
+40-8
+86
420
344377
20.701.354
3.366,827
2,282.395
2.700,680
2.206,042
6637254
1,083,666
72f.3S5
265 073
843.793
34.711.609
16.271.700
8499.225
4,773.014
1.634.363
1.262.898
1,221.648
1,458.974
564,233
755396
115,780
tflfl.
60. 122.559
50.692,345
47 .333.902
12 .710,708
10 .569.608
6 215.030
3 759.000
4 234,229
2 783.929
3 652.706
2 133.685
1 713.059
1 456.292
1 136.441
1 228.257
919.488
703,348
631.120
650,000
80.847.516
8.310.150
10,082.073
3.349.073
8,766.000
4,277,391
3,332,591
2,554.133
1.989,9.00
1.531.556
1,833 282
1,284.432
1,352963
529770
960,000
565,160
586.453
709,000
428.074
275.619
371.604
4-129-7
1,035*"528
55.000
168 448
137.355
61.168
230.019.514
9347.770
170*232 -233
186,317
40L023
855,243
647.090
562.535
270,280
472.912
256,508
427,703
6.706,121
4.101,505
5.719,500
4.514,884
4.313.732
1,348.619
455,718
160,342
414.788
589,000
009.215
7.094321
+1-2
—0-8
—0-3
4,640 .200
3.405,894
2,320.558
1,300.589
858333
11,881.326
-230
830.395
-12-1
800 000
Publcjttion discontinue d.
192,480
..
5,017096
6310.450
8339.077
Beaumont
Jacksonville
Charleston
20.228,900
16,160,245
10,409,115
5,833.308
3.691,123
3,067.330
2,666.834
2.318,631
1,314,811
1,675.307
656,000 -29-4
744.686
645,863
792,700 —26-2
682,493 +310
-1-6
676.058
304,545 +10-0
421,623 —20-1
444.707
—o-o
604,372 —31-6
—00
262.200
241.425 -874
+0-6
202.028
200.060
+35
-2'9
92.779
792.479
910,966
Knoxville
157388.353
20,764,000
14.212,656
9,639.618
6.569-967
-171
1308307
1374.549
170.936378
—15-2
2,021334
7.202,100
2.832 586
1.495.528
1,464,540
1.698,651
174.100.715
247.259.078
26,109.758
4,589,097
3.470.143
1,843,796
1.912,940
464.000
312,211
248,824
164,317330
852.010
561,731
601,092
857,653
172,658.270
511 926
649.747
415,078
—1-2
692.867
Little Rock.
153,017,380
8,023,100
3.185.631
1,925.649
1,749.689
1,924,993
1.499,836
l,1973ft6
—90
1,063.411
1,283.608
1,110.683
808.011
8X4,27
1,135.000
Birmingham
1,692,332.873 1,884,518,678
—1-6
3,533356
1,048326
787,031
464.400
413.335
230.103
tal.
31.768.460
1351,976
Augusta
Columbus, Ga
Total Southern
6
9
-33
799366
,
Topeka
Davenport
Fort
—29
1,116308
1,059396
,
Denver
Des Moines
Sioux
—305
-134
060.625
tal.
258.788,607
4,457390
St. Paul.
St. Joseph-
—96
746.220
829,654
433,000
575.438
890,500
5^4.700
,
Sioux Falls
Total Paclflo
,687.724.467
105.702.475
40,697,818
30.203,637
6.883.014
3,281.541
3.107.199
2.689.717
1,063,294
1,210,934
28,725.066
,
Helena
6,519,485 +fa*»
2,299,087 —4-8
8,018,045 +8-0
2O5.0
00,053
Tacoma.........
88314,882
281180336
151^02
910.932
458,074
568.337
426,761
1.476.991.643
128.198,008
43.359,632
25,073,447
6,539,619
4,045,178
3.227.491
8,437,412
1,734,457
1,580,226
1,175,998
248.06L364
Total Mid. Western
San Francisco
Los Angeles.
43.141,401
80.238,170
54,789,338
35,458,545
26,398,877
23,181,889
17,514,925
11,873,060 —55
6,670.616 -15
6,237,773 —48*8
4.867,141 +9-2
3,189,158 +454
1,894,045 +19-9
875.739 +48
29,246,986
16,360,574
11,045.932
12.8W5.198
14,002,442
6,184.079
2.557.70
1,839.824
1.083,378
266.343
Spokane
1
636,9793*26
62,840384
169,473 999
22,853,450
16,383 904
9,560,277
6,521,783
6,240,326
4.326.100
2.009.062
2.763.457
1.839.658
440366
341380
Ann Arbor
841,379.730
',407,844
160,660.414
Decatur.
,T.._...
Mansfield
T....
Jacksonville
Jackson.....
+14
—322
132.346,586
O
+8-6
36,110304 +1-4
Not Include d In to
Not Include d in to
1,646.747
422,517
684.434
808,972
865.112
434,834
386,787
Seattle
Salt Lake
Portland.
—157
+31-1
-119
-264
-266
—13-6
—277
—146
—259
—9-8
Bloomlngtpn
OuUicy
-30
-170
—15-2
—12-5
-18-1
—11-2
—17-4
64L914
Ill
Lexington
Canton.
Rockford
-0-2
-25-9
-36-8
140.562,675
7,103.600
8.386,592
1.968,070
1.849,377
1,679,249
463.000
Youngstown
Kalamazoo
+0-4
,805,240
63,074,217
New England-
Detroit
+16-6
+14-0
—0-6
—3-2
—1-4
+3-7
h
Holyoke
Milwaukee
India da polls
Columbus.
3,072,041
221.873,207
New Bedford
Cleveland
+63
1.06U53
River
Lowell
Fall
Cincinnati
3,204,522,963
872,080.768
72,138.293
47,181,105
Portland.
Springfield.
-332
L524.637
Worcester
190LA
%
1,560.770
1.055.118
Springfield
1901.
2.
1902.
Dec.
178.553.510
22,153,450
12,328.583
8,411.102
7,115.333
5,857.192
4.000,000
2.602,971
2.760.249
New Haven-
Springfield.
Inc. or
116,101.227
6,420,000
2.353,771
1,704,153
1,302,587
1,110,484
1,485,459
614,596
852,198
436.256
465.850
Boston
Providence
Hartford
Total
859.79S
453,800
648,614
403.356
436.687
1,228,222.855 1,811.415,517
Chicago
,164,281,963 2,143,007,833
287,184,850
292,200,950
168,645,625
201,877,287
119,141,905
125,241,106
102,716,812
96,030,487
77,011,421
73,309,408
55,511,900
54,306.200
36,948,81
36,194,927
39,158.269
40.281,116
24,215,12*3.
23.181,748
23,399,320
20,903,305
16,620,58?
14,960,487
7,005,408
8,939,600
9,168,551
0,360,402
7,941,615
7.102.6W
8,947,478
8,164,922
83SS36H
9.084,625
7.192,683
5.8OW570
6,142,196
6,658,945
6.066.475
6,471,735
6,059,30b
6,763.436
4,703.870
4,830,359
8,587,72'
3,422,612
2,470.285
2.492,8 12
2,929,277
8,872,600
2,541.470
2,516,802
1,101,092
1,198.033
+05 3~196,662,351
—21 861.920.660
26303,6t2 4-11-0
16,566307 +63
8,090307
Minneapolis.....
--9-9
--5-0
4-3-2
129,304,739
28,865.281
17,530,481
92.667.492
62,449,274
85,291,269
25.550,461
22,808.596
18,166,860
11.217.713
5.626.311
8,192.302
5,310,585
4,636,422
2.270.880
917.613
— 1;6
+7-2
9.758, 27J
Kansas City
—2-0
+9-7
307. 182
1,117.193,460 1,111,424,894
222373,760
—194
874.480
14,718,672
Total Pacific...
+0-9
820.766 +3-5
1,246.670 -12.0
Bpekane
Portland
M) 1,823,407,513 1,979,668,803 —7-0
1003.
$
.064.278.688 1,589.710,656
90,770,421
122.556.574
32.172.249
50397.980
18,020.911
22,789.909
4.883,440
5,760.674
3,871,327
4.426.256
8,268.118
8.983.216
2,754,951
3,100.631
1,518,451
1,801,627
1,834.116
1.399,685
1,118,839
1,269,807
748,173
1,016.238
Franklin, Pa...
-18
1 1,593,620,645 1.738,619,827 —8-3
586,065.571
90,377,000
92,187.200 —2-0
28,607,400 -3-u
84,432,242
35,375,121 —27
129
11,386.668
22,932,515
21,818,632 +61
7.113.370 t 123
-6-5
19,892,118
20.946,439 —50
6,454,158
21,139.942 —379
13.117,900
6.796.480 -334
17,886,756
18,331,024 —24
5,690,889 +7-2
19-V
12,821.460
13,284,532 —35
4,356,454
-14 8
5,445.533
6,227,802 —12-5
2,099,628
6,804,872
6.843,155 —06
2,308,902 -14-0
6,076.466
4,900,629 +24-0
1,562,145 4-29-1
11,779.601
16,183,167
Worth
Birmingham
Little Hock
-52
ot—
Clearing*
In. or
Total Middle.
...
San Franotaeo.
Los Angeles
-20-0
--4-8
7,090,021 --9-3
6,445,618 --6-1
4,940.274
8.939,618 -71
3,199.872 -105
1,803,700
1.925,975 —115
1,631.131 4-18-1
1
5,009, 272,
Providence....
Hartford.
Total
11, t>6S
1.926.
762.
Boston
Springfield,
1
7,748,918
5,778.724
4,794.371
3,060.572
2.862.494
1.730.50U
1.703.564
Wheeling
Bingham ton...
New
473.935.848
217.237.678
98,255.100
24,492,987
17,651,242
14,314,423
9,653,676
17.:i55,541
.
Syracuse
Wilmington...
Wilkes Barre..
New Haven
6,004,210,33.";
449.192.05a
100,409,14
97,579,439
25.598,197
AND
Week ending April
%
NewYsrk
1903, 1902
107,376,641
Not Include ^
*k09,325.08S
Total all
1,822,900,935 2,448 903.099
Outside New York.. 758,022,247 858,192,444
tVTable Clearings bv Telegraph and Canadian. Clearing* on page 1370.
m to
—1-8
—25
tal.
103.012.090
5 2.321.796.8:
—11-6
f
844,805,194
87,087,691
459.687.416
771,902,950
1360
THE CHRONICLE.
THE FINANCIAL SITUATION.
fVOL. LXXVIII.
earnings about to be diBCiosed by the
United States Steel Corporation. That is not only
our largest Industrial, but it is honestly and openly
oi
uiiiavurttDiti
Circumstances leem to hate been in command of the
securities market the current week and to have kept managed, and consequently of great influence among
Up to the present time the Investors, being looked upon in considerable measure
it strong and advanoing.
decision In the Northern Securities case by the as a telltale of the industrial situation.
Supreme Court has been the support of values. It
On Tuesday, late In the day, that Corporation issued
has supported them under and in spite of a good many its report for the first quarter of the year.
It was
unfavorable reports and facts whloh have existed.
gratifying in that the results in all respects were
Among these no feature probably was in 10 large better than the forecasts had been. Net earnings,
measure instrumental In holding the public aloof from after deducting expenses, all reserve and sinking
purchasing as was the Idea, which had almost become funds and interest, were estimated on the street as
the current belief, that the United States Steel Cor- low as $8,000,000, whereas the report shows that they
poration's quarterly report to be made public early in were $11,263,241.
A further fact of decided promise,
April would show a larger defloit than the defiolt because bearing on]tbe future, was that the Corporafor the previous quarter, with no improvement in tion reported unfilled orders on hand March 31 1904
even claimed that the of 4,136,961 tons, as compared'with 3,216,123 tons on
prospects.
It was
its
management bad determined to suspend the divi- December 31 1903, or an increase of 921,838 tons, indend in whole or in part on the preferred dicating that the improved and improving trade
A tonic to braoe up these unfavorable fore- oondition which the leading Iron and steel authorities
stock.
casts was manufactured out of the embryo strikes have noted during recent weeks has resulted In note-
which have recently been struggling into larger proportions in New York City, by assuming that they
foreboded just suoh a condition in the buildings trade
and in steel consumption as existed last year.
Another bearish argument was the condition of the
winter-wheat crop and the very late spring, which,
it was urged, would certainly handicap all the season's
crops by giving them a late start. This claim was
supported by the fact that the winter had been tremendously severe and that March had proved very
backward, so that the Agricultural Department's report, due the 16th of April, covering March was likely
to show deficiency in the winter-wheat condition.
Furthermore, as decreases in some of the reported
railroad earnings, for well-known reasons, were al-
worthy gain in the Steel Company's business.
over,
when
to the foregoing
is
More-
added the fact that the
which was to
strike in this oity in the buildings trades,
have been such a setback to the Steel Corporation's
expanding production, has substantially collapsed, it
not8mrpri8ing that the public has pat a very hopeful
interpretation on the first quarterly report for 1904.
That other unfavorable feature poor winter-wheat
is
—
prospects and a very late and hence unpromising start
for all crops
whioh has been claimed to be a part of the
—
present outlook,
Is
by nogmeans assured as
unlikely the Agricultural
yet.
Not
Department report due the
coming week will show a less favorable condition
than a year ago because it can only reflect the surroundings of weather, etc., the thirty-first of March.
But
ready a phase in the situation, this forecast as to since April opened there is believed to
have been an
the outcome of the crops was made the more dis- improvement, and this week the telegraph
has recouraging.
ported that abundant rains have visited the winterIt is not wise to be a pessimist forever, nor to act wheat sections.
We make no present claim as to the
for a long continued period in this new country on extent of the year's harvests;
it is too early
for that.
the assumption that affairs are going to the dogs. To But Is it not too early also
for the publio to take any
be sure, our industries had a black look, even to us, so stock in the disparaging reports with
reference to the
long as the principles announced in the Circuit Court same results which have for
a long time been afloat
of Appeals decision of the Northern Securities case on Wall Street?
remained unquestioned; just precisely as they did, too,
on that other previous occasion so lonsj as the 16-to-l
silver issue was hanging like a pall over the country's
future, endangering our currency standard.
Would
that the people could heed the lessons those incidents
teach, that even fixed capital cannot be put In thral-
dom
to a fear of its extinguishment, or
to a fear of
even partial extinguishment, without curtailing and,
if prolonged, paraljzlng business transactions.
While
consequently pessimism is not warranted at the pres
ent time, there are no doubt some features in the
make-up of the general situation which are not favorable to the speculative spirit which was rife eighteen
months ago. We do not look for its return, nor do
we think it, Industrially or morally, a healthful or a
desirable state for our money lenders to cultivate.
But the current week has been favorable in Its hap
penlngs and hence, as already said, the securities market has been kept strong and advancing, A peculiarity of theso events is that they have been of such a
character as to relieve the situation in the very particulars it was claimed to be the most vulnerable.
The
facts referred to above have shown that special sensitiveness was oreated through reports widely believed
The continued improvement
trades
must be considered one
in the iron
and
steel
most auspicious
have reft rrt d above to
the quarterly statement of the United States Steel
features of the situation.
of the
We
Corporation, and to the fact that this company reports
unfilled orders on hand March 31 1904 of 4,136,961
tons, against only 3,215,123
tors December 31 1903.
equally significant fact, illustrative of the improvement which has already occurred In the iron and steel
An
trades,
that the net earnings of the Steel Corporation,
of course being much less than In the corre-
Is
though
sponding quarter of 1903, have with each succeeding
month shown improvement on the month preceding.
Thus in January the total of the net this year was only
$2,868,213, for February the amount was $4,640,673
and for March it is estimated at $5,800,000. As bearing upon the immediate future, the strike of the
and brioklayers has been the one cloud upon
the outlook In the iron and steel industry. It was
feared that this labor conflict would lead to a complete tie-up of the buildings trades, the same as
happened last year and then proved so seriously disturbing.
That threatening
feature,
noted
as
laborers
Apr.
above,
9.
THE CHRONICLE.
1904.
has
now
been
removed.
began with a strike of the laborers
The trouble
on March 4 and
a sympathetic strike of the bricklayers.
On Tuesday of this week the strikers agreed to refer
the matters in dispute to arbitration, a thing that
ought to have been done in the first place, and pendled later to
1361
time, owing to the great prosperity which that section
of the country
We
referred last week to
the good statements presented by the Southern RailIs
enjoying.
way system and the Atlantic Coast Line. This week
we have the February exhibit of the Louisville &
Nashville, and it is of the same general character, reing arbitration to resume work at once. Accordingly vealing $336,365 improvement in gross and $179,582
the army of strikers has gradually been returning to improvement in net. The Seaboard Air Line system
work, and It Is hoped that no further difficulties in hes also submitted its February returns this week,
the buildings trades on that account will be experi- showing $120,770 gain in gross and $5,454 gain in
net.
enced.
There have been some other developments of importance in the iron and steel trades. At a meeting
of the manufacturers of steel billets and sheet bars it
was decided to keep existing prices unchanged. It
was expected that an advance would be made, since
buyers recently have been paying a premium where
prompt delivery was desired. The manufacturers,
however, thought it best to follow a conservsteel
of
price
hence
the
ative
course, and
though undoubtbillets
remains
$23
a ton,
purimmediate
delivery
orders
for
edly on
paying
continue
obliged to
chasers
will
be
somewhat higher figures. The maintenance of the
old price on orders for future delivery Is an incentive to consumers to send in their orders, and
this doubtless in part explains why manufacturers are
being kept so much busier than was the case
strucof
only three months ago. The makers
tural steel and steel plates also had meetings
(in
this
case
on Thursday), and here, too,
the old basis of prices was reaffirmed. In this case
some had expected a cut, at least in the quotation for
There was no change in official rates of discount by
any of the European banks this week and, compared
with last week, unofficial or open market rates were
easier at London, stealy at Paris and firm at Berlin
and Frankfort.
The striking features
York Associated Banks
of the statement of the
New
week were new high records for loans and deposits and an increase of $10,159,300, oompared with the previous week, and of
$16,970,200 compared with March 5, in publio delast
concentration of these funds in
the specially designated depositories since the order
withdrawing 20 per cent thereof was issued. Loans
posits, reflecting the
were increased $14,843,400, due in part to operations
incident to the
placing of the $50,000,000 of
notes issued by the Pennsylvania Railroad Company.
The cash reserve increased $5,461,400 net
and the required reserve was augmented by
$5,176,225 through
deposits.
The
an increase of $20,700,900 in
surplus reserve was therefore increased
$286,175 to $27,755,050. Calculated upon the basis
steel plates.
But the conference of producers estab- of deposits, less those of $56,107*400 public funds, the
The bank statement of this
lished the fact that all the large manufacturers now surplus is $41,781,900.
have more orders on their books than at any time dur- week should reflect, among other items, the with-
Altogether the iron and steel indus- drawal of $2,968,363 gold for export to Paris by the
try seems to be in better shape than for a long while steamers which sailed on Thursday; also the proceeds
past, though of course there is no such activity a 8 of Japanese yen, amounting to $1,176,000, transferred
ing the winter.
prevailed at this date last year.
hither from San
There was likewise a
transfer hither on Friday of $3,937,000 from that city,
representing Japanese yen; this will count for onesixth in the bank statement.
Francisco.
The^further returns of railroad gross and net earnings for the month of February which have come in this
week have been distinctly encouraging. This is particularly Jtrue of the returns of the so-called Harrlman
Money on call representing bankers' balances loaned
roads.
These roads appear to have been particularly
at the Stock Exchange during the week at If per
fortunate the present year (doubtless because they have
cent and at 1-J per cent, averaging If per cent. The
suffered lessjfrom]the severe winter weather than the
above was the range each day, excepting on Wednesroa is lying further to the north), all of them recordday, when all loans were at If per cent.
Banks and
ing'marked improvement in both gross and net as comtrust companies loaned at this rate as the minpared with .the 'corresponding period of last year. The
imum. Time loans on good mixed Stook Exchange
Union Pacific reports for February an increase of no
collateral were quoted at 2£ Jper cent for sixty days,
less than $704,078 In gross receipts and an Increase of
2^@ 3 per cent for ninety days, 3@3£ per cent for four,
$477,163 ,even,in the net earnings. The Southern
3f for six and 4 per cent for eight months. The busiPacific has equally striking gains, namely $904,389 in
ness was small for the shorter dates, but some fairly
Then there are the
grosB, and $406,214 in net.
large transactions were reported in loans for six to
Chicago & Alton and the Kansas City Southern.
eight months.
Commercial paper was quiet, with
The former has added $121,505 to gross for the
only a moderate supply, and rates were 4@4£ per
month ;and $48,292 to net, while the Kansas City
cent for sixty to ninety day endorsed bills receivable,
Southern shows an Increase of $47,423 in gross and of
4@4^ per cent for prime and 4£@5 per cent for good
$43,095 In net. These improved results appear all
four to six months single names.
the more noteworthy in view of the much less satisfactory exhibits made by some other large systems.
Tne Bank of England minimum rate of discount
The Rock Island system, for instance, in February
sustained a falling off of $162,765 in groes and a remains unchanged at 4 per cent. The cable reports
The St. LjuIs & San discounts of sixty to ninety day bank bills in London
falling off of $327,666 In net
Francisao system, on the other hand, added $403,723 2f per cent. The open market rate at Paris is 2f per
to gross and $76,244 to net. R >ads In the South, as the cent and at Berlin and Frankfort it is 2£@3 per cent.
.reader^knows, have been doing particularly well for some According toour.specialcible from London, the Bank
(
.
.•
.
.
'
THE CHRONICLE
1362
[Vol.
lxxvul
DAII/r POSTED KATBI FOR FOBKIOW KXCHAXOB.
£599,477 bullion during the weekano
W»D.. Thci.
MON.. Tins.
held £33,469,375 at. the close of the week. Our corApr. 1. Apr. 4. Apr. 5. Apr. 6. Apr. 7.
was due to
respondent fnrther advises us that the lloss
4
85*
86*
86*
BrowmBroi
{">$£ 4 85*
88
88
88
88
88
the import of £259,000, of which £250,000 from Egypt
86*
86*
86*
65*
Baring,
00 days 4 86*
88
88
88
88
and £9,000 from Australia, and to shipments of Magonn A Co. Blgnt 4 88
of
England
lost
TBI.
Apr.
88
(
.
£858,000 net to the interior of Great Britain.
Bank British
foreign exchange market was irregular though
88
i
Bank Of
The
86*
5
<
No. Amerloa..
60 dan
Blunt
60 da j
Montreal
}8igbt
Canadian Bank 1 60 days
of Oommeroe. ( Bight.
Heldelbaoh, Iok- 60 daji
•lhelmer & Co. ( Bight
J
.
generally strong this week,
and the
fluctuations, ex-
4
86*
85*
86*
86*
85*
88
86
88
88
86
88
es
86
88
88
4 86
88
e6
88
85*
86*
eR*
86*
85*
88
88
88
88
88
86*
86*
86*
86*
88
88
P8
P8
If*
88
§6*
86*
86*
85*
88
P8
68
88
85*
86*
86*
ee*
86*
88
88
88
85*
488
488
4 88
85*
488
4 86*
Laiard Freres
$$*' 488
j
Merchants' Bt. (60 days 4 86*
Bight
of Canada
4 "8
1
4
.
cept in sight sterling, were within a narrow range.
The announcement on Monday of the engagement of
$630,370 65 gold by the Royal Bank of Canada for ship
ment
to
6.
86*
. .
88
1
86*
88
Havre on Thursday was accompanied by an
The following gives the week's movement of money
giving the impression
to and from the interior by the New York backs.
that this clasa of bills had been sold against the exReceived by Shipped by
Set Interior
Week ending Aprii 8, 1904.
port.
On Tuesday there was quite free selling of
easier tone for sight sterling,
N. T. Bank* N.Y.Bank*
sight bills by one of the large banks having an ex Currency
change department, and influenced by these offerings Gold*. ...
16.604. 000
$4,464,000
1,347.000
1.094,000
Movement.
Gain. 92.080,000
25S.00O
Gain.
Total gold and legal tenders.
$7,881,000
16.648.000 Gain. 2,3*3.000
seemed
to make improbable further gold exports for this week
With the Sub-Treasury operations and the gold
There was, however, a prompt recovery, exports, the result is as follows.
at least.
and on the following, day Lazard Frerea engaged
Into
Out of
Net OKant* in
Week ending April 8, 1004.
11,512,230 13 and Goldman, Sachs & Co. $825,762 33
Bank*.
Bank*.
Bank Holding*.
gold for shipment to Paris, via Havre and Cherbourg, Banks interior movement, as above $7,881,000 15.64 8.000 Gain. $2,833.0*0
24,100.000
88.100,000 Loss. 4,000,OO#
Snb-Treaa. oper. and gold exports.
on Thursday, making, with the $630,370 65 previously
131.681.000
$33,648,000 Loss
1.667.000
Total gold and legal tenders
engaged as above, $2,968,363 01 which went forward.
The following table indicates the amount of bullion
After theae engagements were announced sight
banks.
sterling improved in tone, but it was easier again on in the principal European
there was a sharp
fall
In rates to figures which
Thursday, indicating selling of bills against intended gold eiportsl early next week. Long sterling was
firm, chiefly because of the easier discounts in Lon
don/which induced remitters to give preference to
these rather than sight bills. Theie was an advance
early in the week of f of a penny per ounce in the price
of gold bars in London, which was probably for the
purpose of outbidding Frenoh bankers for the gold
which was expected to arrive from South Africa during the week. This higher price for gold in London
most likely had some influenoe upon the shipments
hence to Paris this week. The Assay Office paid
$834,664 61 for domestic bullion. Gold received at
the Custom House during the week $23,269.
Nominal quotations for sterling exchange are 4 85®
4 86i for sixty day and 4 88 for sight Bates for
actual business opened on Saturday of last week at a
decline, compared with those on the previous day, of
6 points for long, at 4 847504 8480, while cables rose
6 points, to 4 877604 8786; short was unchanged at
4 8736@4 8740. On Monday long. recovered 6 points,
to 4 847604 8486, while short fell 10 points, to
4 8726^4 8735 and cables 10 points, to 4 87660
4 8775. On Tuesday long advanoed 6 points, to*
4 848004 8490 and Bhort fell 5 points, to 4 87200
On Wednesday
4 8736; cables were unchanged.
.
short recovered 15 points, to 4
cables rose 5 points, to 4
873504
8740, while
877004 8780; long was un-
changed. On Thursday short fell off 10 points, to
4 872604 8735 and cables moved upward 6 points, to
4 877604 8786; long was again unchanged. The
market was steady on Friday, with long 10 points
higher.
The
jApru
Bank
April
1. 1004.
9, 1903.
of
Gold.
Silver.
Total
Gold.
£
£
33.469,376
S4.360.II20
94.868,260 44,674.618 139,432.779
France
Germany
...
80.640.000 10.765,000
Aus.-Hung'y
Spain
86,838.000 8,366,000
47.146.000 12.886,000
14.646.000 10,770.000
32.000.000 3,803.200
Russia
Italy
lotal.
£
38.459.379
England
Silver.
Netherlands
6.442.700
6,678,600
MatBelg'm
3,083.833
1.641.66-
Tobthla week 888.171 tM8
Tot, prev. w'k 346.926^802 110886048
41,406,000
P6 803,000
60,031,000
84,416.000
8S£88,e00
12,021,800
4,685,000
£
34,860,820
100,238,361 48,988.747 144,179,108
80.243,000 10.620.000 40,8*9.000
77.323.000 8,435,000 86,769,000
46,842,000 13,391,000 69.839.000
14,406,000 30,288.000 34.749.000
17,716,000 2,278,000 19.98S90O
3,986.600 6,686,100 10.581.700
8,«12,000
1,606.000
4,818.000
10828388*1 440.466,664 S87.320,28> 10713*747. 434,< 60.038
457,31 1.84L 331.698.863 1067586O7' 438,466.860
THE WAR, 1HE POWERS AND THE
MARKETS.
Rumors
I
of purposes of friendly intervention in a
war
when
no important developments have ensued. They are
suggested to hopeful minds by the mere fact that
speedy victory by either party is unlikely, and that in
many cases disputants whose quarrel has reached the
stage of deadlock are glad to listen to a plan of compromise. We presume that this is the actual basis for
this week's newspaper reports of friendly mediation
by the King of England.
Nothing would be more gratifying than permanent
settlement of the Far Eastern controversy on lines of
justice and through means whereby further waste of
blood and treasure might be averted. Furthermore,
if suoh result were practicable, King Edward would,
beyond question, be the intermediary to obtain it.
But mediation is at all times a delicate business; it
oannot even be formally proposed by one State to another until it is known in advance that such other
state would accept the proposition favorably. In
fact, the modern practice of diplomacy in war-time has
usually circulate after a prolonged period
848004 8490 for long sterl8740 for short and 4 877004 8780 for
873504
cables. Commercial on banks 4 846004 8466 and pretty well established it as a principle that mediation
documents for payment 4 83|04 84f.
Cotton for [ between two first-class belligerent States is out of the
payment 4 88£04 84, cotton for acceptance 4 8460 question unless one of those States has expressed to a
04 8466 and grain for payment 4 84*04 84f
neutral Power its own wish for a compromise. We do
The following shows daily posted rates for exohange not see what present ground there is for supposing,
by some of the leading drawers.
such a situation to exist.
ing, 4
olose was at 4
—
;
APB.
9,
THE CHRONICLE.
1904. J
Eastern war began with a dash and
vigor which, on the face of things, appeared to promise quick and decisive results, and that the era of
activity and achievement has been followed by two
full months, in the course of which nothing of conseBut this is scarcely a ground
quence has happened.
for assuming that the campaign has reached a stage
of deadlock.
On the contrary, such pauses, after the
introductory burst of activity, are apt in war to mean
the consolidation of forces, on both sides, to prepare
for the genuine test of strength.
Nothing is more
curious, in the history of modern wars, than the surprise of non-combatants when this period Of delay
ensues.
Such a period has occurred, almost without
It
is
true, the
«
1363
and the French Rassophiles, and the equally' bitter
retorts of the English press—to see what combustible
materials were at hand, and to comprehend how skilNothing could
fully the danger has been averted.
better illustrate this fact than the absence at actual
opening of spring-time of those belligerent rumors
from the Balkans which sounded so formidably in
mid-winter.
The time, we imagine, cannot now be far distant
when the real trial of strength on land a3 between
Japan and Russia
will occur.
All that even the mili-
tary oritio has In view at present
on which
to base his
judgment is the fact that Japan has managed to land
its army in Oorea without interference from the Rusexception, in the campaigns of the past half-century; sian fleet, and that it has apparently manoeuvred the
one must go back to the Napoleonic period to find Russian Army out of Corea and back some distance
wars which were apparently conducted on a differ on the railway. It is possible that Admiral Togo's
«nt
principle.
But
the
reason
was
that real purpose in his repeated assaults^unon Port Arthur
Napoleon, in his most brilliant military campaigns, has thus been actually achieved. His object may
applied to an ill- prepared and ill-managed adversary easily have been the simple "bottllng-up" of the
the full force of his own unparalleled genius and Russian fleet pending the ferrylng-over of the army
military energy ; the thing being done so quickly that from Japan. On the other hand, the Russian fleet
the opposing army would be trapped and forced into and army are now under immediate charge of expericapitulation before the world at large was really aware enced and distinguished commanders,
who have
of the campaign. ,Now-a-days,neltherthe opportunity shown evidence that their own plans of campaign
nor the Napoleon to utilize it seems to be on the were being definitely shaped.
soene ; the single exception being perhaps the FrancoOne of the odd phenomena of the day has been the
Prussian war, when the great machine of Von Moltke's rather rapid decline in Japanese bonds at London
patient construction moved on its demoralized enemy 10 points since the outbreak of the war
while Rusas awlftly as Napoleon did at Ulm or Jena, and forced sian bonds at Paris have not declined at all as coman immediate surrender. Readers who recall the pared with the price of February 7. The explanation
incidents of the Rosso-Turkish war of 1877, the is, we take it, that the Russian bonds have been susChinese war of 1894, our own Spanish war of 1898, tained on the market, both by the Russian Treasury
and the Boer war of 1899, will remember that the itself (whioh has adopted the same expedient at other
course of event was precisely similar to those of the times) and by Paris banking interests anxious to avoid
present conflict an introductory burst of activity
disturbance of confidence among Russia's numerous
—
—
then a prolonged season of slow or futile manceuvers
finally a positive forward movement, leading to positive results, which made ending of the war inevitable.
We recall these facts in order to show why mediation and compromise at this juncture In the Far
Eastern war are scarcely to be hoped for. Compromise would in any case be possible only through
Russia's concession of the full demands contained in
the Japanese ultimatum.
good part of the world
has believed those demands to have been entirely
reasonable, especially since the formal statements to
the Japanese Legislature have shown that Japan did
lot even attempt to meddle with Rassia'a "sphere of
iifiuence" in Manchuria. But to ooncede even reason*
He demands in response to courteous diplomatic inquiry, and to ooncede the same demands at the point
of the bayonet, without ev*n showing fight, are two
very different things. To Russia such a procedure at
tkU time would be an intolerable and inconceivable
A
humiliation.
Something has been accomplished by royal diplomacy, however, and that Is the absolute assurance of
the peace and neutrality of other States in Europe.
It is frankly recognized by foreign critics of public
affairs how important has been the part played by
King Edward in the maintenance of a good understanding with France and Germany. Much of the
achievement may be due to the enlightened Foreign
Minister of France, whose policy from the start has
been one of sense rather than of sentiment. But It is
only necessary to glance back at the bewilderments of
February— Germany's mlstrnstfuln&ss, the angry feeling toward England among the Russian politicians
creditors in France.
No
similar efforts have been
made in behalf of Japanese securities, any more than
they were made four years ago for British consols.
Japan, of course, will have to borrow presently on the
outside markets, and the decline in her existing
bonds beforehand
is
a normal incident.
AMERICAN RAILWAY TRANSPORTATION.*
The crowded condition
columns has pervented earlier notioe of Professor Emory R. Johnson's interesting book on American Railway Transportation.
Professor Johnson is Assistant Professor
Transportation and Gommerce in the University of
of
Pennsylvania, and was also for four years a member
of the Isthmian Oanal Commission.
The book forms
one of the Appleton Business Series, and was written
Hence, while necessarily containfor business men.
ing some elementary statements, it is by no means an
elementary work. We cannot say that we agree with
the author in
all
of our
of his conclusions, but there
is
much
and useful matter in it. Professor John*
son writes in a temperate way, and where he touches
on controversial matters manages to present clearly
and accurately both sides of the argument.
The book is divided into three parts. Part 1. deals
with "The American Railway System," Part II. "The
Railway Service," and Part III. "The Railways and
instructive
the Public." In this review
we
shall confine ourselves
entirely to the discussions contained in Part
tb»*
—
i«,
I
—
—
*^e t>or>1on
»
II
-II
<*f
f
be bo«lc
l^JMM— ..
I.
t^aMu^
I
MM..
.
II
I
III.—
of the re^——WW———
—
" Ajn«»rloan RaUwav Transportation." By Emory R. Johnson,
Ph.D.. University of Pennsylvania. New York: D. Appleton & Go.,
12 mo. Cloth fl 00 net; postage, 14 cents additional.
*
THE CHRONICLE
1364
and the public. The author
cusses competition and rate agreements quite
[Vol. lxxvui.
united to maintain the charges thus agreed upon, they
at were not able to control the industrial forces to which
un- trar sportation charges are in a large measure subject.
length.
II j reminds the reader that In order to
derstand why railroads find such difficulty in main- Nor was it possible for the railroads by means of rate
lations of
i
all ways
dis-
why
taining their rates and
they carry their rivalry to
such extremes, one needs to consider the nature of
railway competition.
The merchant or the man who
has invested capital in a business from whloh the capital can be withdrawn without much loss will suspend
his business temporarily or permanently if competition
becomes so severe as to prevent him from earning
The
profits.
situation
The
is
very different with compet-
company cannot suspend
when competition forces down the rates, al-
ing]railroads.
business
railroad
though the earnings may not yield any
invested capital.
And
;
continue even
on the
because fully threethe author's estimate)
this is so
fourths of the expenses (this
will
profits
if
is
the railroad
ceases to carry
traffic.
Very
can
little
of the
capital
invested in a railroad
When
put into a railroad, capital
must secure an income from that form of investment or
become worthless; so if the company stops doing business no interest on the investment can be obtained.
But more than this, the railroad company's expenses
for maintenance and repairs, and its losses from
deterioration of equipment, road-bed and structures,
d j not stop when traffic is suspended. About all
a ": railroad
company can save by suspending
all traffic is the expenses incurred from operating
the trains. Such being the case, the railroad will not
surrender '.-.its traffic to a rival, even though the earnings are so small as to leave no surplus to pay Interest
on capital. As long as the receipts from traffic will
cover operating expenses and yield a small amount in
excess to apply to the payment of expenses that must
helmet, whether business is being carried on or not,
the railroad will seek to hold its traffic against its
competitors, or endeavor to seoure the business being
handled by its rivals. Unless a railroad is exceptionally strong financially it cannot carry a large share of
its traffic at rates only a little above the cost of operating the trains without becoming bankrupt; but the
Insolvents-ail way does not cease to do business.
If railway affairs. were controlled by forces similar
to those governing the business relations of persons
eL gaged in agriculture or merchandising, their regulation by 'unrestrained competition might be satlsiac
tory;"^but experience hag clearly shown the absolute
be,, withdrawn.
necessity for co-operation
agement
among
of their competitive
as
carriers in the
well
as their
manj
rint
agreements and pools to prevent the ocean, the large
rivers and the Great Lakes from exercising a wide and
effective Influence on rail rates.
It is pointed out,
moreover, that from 1870, when pooling began, to
1887, when it was prohibited by law, the average receipts of the railroads of the United States for hauling a ton of freight one mile declined from nearly 2
cents (In gold) to about 1 cent; in other words, the
average ton-mile earnings in 1887 were only a little
more than half those of 1870. Charges did not decrease beoause of pools, but the pools d d not prevent their decline.
Passing to a consideration of the situation at the
present time, reference is made to the fact that during
and since 1898 the consolidation of railroads has proceeded with unprecedented rapidity. The causes of
this rapid consolidation have been in part those which
have operated generally throughout the business
world during the past few years. In production, even
more strikingly than in transportation, the large
organization has been supplanting the small one in
order that business might be expanded, expenses
reduced and profits inoreased. Furthermore, there
has been a olose connection during reoent years between the rapidity of consolidation and the great
prosperity that has prevailed since 1898.
called for expansion in
Prosperity
business and sup-
all lines of
plied the surplus capital needed for the enlargement
of
plants
and equipment, and for financiering the
consolidations that have accompanied industrial expansion.
Prosperity was not a cause of consolidation,
but was a favoring condition.
In the case of the
and other special
causes operated to hasten consolidation. For many
years the rival companies sought by rate and traffic
agreements to prevent competition from producing
its undesirable results; but when it became impracrailroads the prohibition of pooling
ticable for the railroads, either directly or Indirectly,
to effect such agreements, the only available course
management by such
would tend to divide the field.
"Undoubtedly railway co asolidations would have
taken place and the strong system would have continued to become larger had the Inter-State Commerce
Law permitted pooling and had the courts not held
the Anti-trust Law to apply to rate agreements ; but
the incentives to consolidation would have been less
urgent and the process wonld probably have been
slower." It Is proper to say that when Prof. Johnson
speaks of consolidation, he uses the word In its broadof action was to secure unity of
consolidations as
Mr. Johnson well says that unbridled competition's intolerable alike to the railroad companies
and to^the public, and must of necessity be checked.
Whatever is ruinous to all parties must be stopped, est sense, so as to include consolidations of all classes,
and if the ruinous practices have no natural limits, an whether brought about by purchase, by lease, by
artificial limit must be established. If the competition means of stock -holdings, or by community of interest
business.
they must in the management of distinct oompanies.
If they cannot agree
either co-operate or consolidate.
We believe the foregoing to be an accurate descripin accordance with business methods tion of what has been going on in the railroad world
upon and work
We think, too, that no one will be
that will effectually restrain the forces which lead to In recent years.
ruinous competition, they must consolidate under inclined to take exception to the statement that railsingle ownership or a common control.
roads, even where they are concentrated under a
From this the author is naturally led to a discussion single control, can be looked upon as possessing only
among
rival railways is
to be restrained
He reaches the conthat the pools whloh were in existence prior to
clusion
of pools
and
traffic associations.
Lw
of
the enactment of the Interstate Commerce
1887 were not a detriment to the public Although
the rival railroads
made
their rates by joint action,
and
a partial monopoly.
Biilroad charges are affected by
numerous competitive forces which are beyond the
reach of railway managers, and which prevent transportation charges in most instances from being fixed
at the point of
maximum
profits.
These competitive
_
Apr.
9,
THE CHRONICLE.
1904.]
1365
but quite as in the Louisville & Nashville, the other half being
much In the industrial world. The author argues owned by the Southern Railway. The reference to
that the effect of railway consolidations and of the the Atlantic Coast Line is correct, but this is the first
ultimate division of the country among a small num- time we have heard that the Southern Railway had a
ber of powerful railroad corporations will unquestion- half interest in the L. & N. If it were> fact, we
ably increase the power of those corporation* to imagine the Southern Railway would find itself inrestrain the operation of the competitive forces de- volved in extensive litigation instigated by the officials
scribed that hence the present partial monopoly of of those Southern States which forbid a union of
the companies will become a more effective one. But parallel and competing systems of roads. We notice,
Pacific, the Texas & Pacific,
all this does not change his conviction that the nature also, that the Missouri
of the competitive forces is such that the railroads the St. Louis & San Francisco and other roads In the
same section of the country are termed South Eastern,
cannot secure a perfect monopoly.
With such a clear comprehension of the situation, which to say the least is decidedly novel, as these
Again,
it is a little strange to find the author arguing in favor roads are generally classed as South Western.
of giving the Inter-State Commerce Commission in- we find the following statement; "That Mr. J. P.
creased powers. The following extract clearly shows Morgan's relations with the Vanderbilt interests are
becoming closer, is suggested by his having a place on
a leaning in that direction:
Although Congress has done little to change the Act o f the exeoutlve committee of the New York Central."
1887, the courts have done much, and the result has been This implies that Mr. Morgan's relations with the
that since 1897 the Inter-State Commerce Commission has Vanderbilts have not always been close.
As a matter
possessed no effective power to ad just railway charges. In of fact, Mr. Morgan has exercised a powerful Influan increasing measure the work of regulating transportation
ence in Central affairs for a quarter of a century. It
charges bas been taken up by the Federal courts but al.
enough to recall that it was Mr. Morgan who
though the enlargement of the activity of the courts has been is well
beneficial, and may be even more so in the future, the neces- brought about the West Shore settlement in 1885
Howsity for the further development of legislation regarding rail- through hia influence with the Vanderbilts.
the Inter-State ever, these are only minor defects, and the book is in
way regulation and the desirability of keeping
Commerce Commission equipped with effective powers have many ways a useful one and destined to occupy, we
However active and intelligent the
in nowise lessened.
think, an important place in the railroad literature of
forces prevail not only
among
carriers,
—
;
may
be in dealing with transportation questions, they
cannot adequately cope with the economic problem of rate the day.
^____^_^^______
adjustment. The action of the courts must be mainly negatheir methods of procedure are such
tive and preventive
that the courts are not so well adapted as a Commission is to
REPORT.
A ST.
deal constructively with such a complicated and varying
The Pittsburgh Cincinnati Chicago & St. Louis
economic problem as the supervision of transportation
one of the two large companies through
charges and their equitable adjustment among the rival Railway Co. is
social and economic interests, This fact seems now to be whioh the operations of the lines of the Pennsylvania
generally recognized in the United States, but there are luilroad System west of Pittsburgh and Erie are
differences of opinion as to the nature of the powers that carried on.
The company's annual report for the
should be vested in the Inter-State Commerce Commission.
calendar year 1903 has just been Issued and the
courts
THE PITTSBURGH CINCINNATI CHICAGO
;
LOUIS RAILWAY
The reasoning here
We
gave some of the figProfessor Johnson admits, It will be seen, that "the ures last week in our railroad news department, and
enlargement of the activity of the courts has been this week print the text of President Cassatt's rebeneficial, and may be even more so in the future/' marks.
The experience of the Pittsburgh Cincinand yet declares that the necessity and the desirability nati Chicago & St. Louis during 1903 was like that
that is there was
of keeping the Inter-State Commerce Commission of the Pennsylvania Railroad itself
equipped with effective powers has in no wise lessened. a substantial further increase in gross earnings, which
We have often shown why the acts of the Inter- State brought with It practically no increase in net earnings,
Commerce Commission should be subject to the su owing to the large augmentation in expenses. And
pervislon of the courts, and need not therefore go the bulk of the augmentation In expenses occurred in
Into that aspect of the matter to-day.
We have also the item of cost of conducting transportation. Stated
frequently given our reasons for opposing any en- in exact figures gross earnings were added to in the
largement of the powers and functions of the Com sum of $3,326,464, expenses were Increased $2,317,800,
mission.
The members of that body have been for ($1,276,558 being under the head of conducting transyears clamoring for new powers and yet they have portation), leaving but $8,664 gain in net.
failed, it seems to us, effectively to avail of the powers
However, the income statement makes a very satisMost important of all, the Com- factory exhibit notwithstanding the lack of Improvealready possessed.
mission has never shown a judicial temperament or ment in net earnings. After providing for all interest
undertaken to decide questions in an impartial man- and rental charges and car-trust payments, and allowner.
Its views and expressions make it evident that ing for losses on the operation of subsidiary lines, the
it conceives its main duty to be to act as the champion company had available net income for the twelve
Nearly all cases that have come be- months of $2,425,741. Out of this it made sinkingof the shipper.
fore it have been treated and disposed of in that way, fund contributions of $419,860 and paid $1,651,414
instead of being considered on their merits.
Neces in dividends (being 4 per cent on the preferred stock
sarily the conclusions of a body acting In this manner and 3 per cent on the common stock), and still had
are entitled to little weight, and it would be nothing left a surplus balance of $354,567, which was applied
less than an outrage if its findings should be made to the extent of $347,351 in meeting extraordinary
final, leaving the railroads no appeal to the courts for expenditures in revising grades and alignments, and
a fair and judicial determination of points at issue.
providing for other outlays of a similar description.
We notice a few slips in the book. On page 64 we Apart from the improvement expenditures paid for
read that the Atlantic Coast Line has a half interest by appropriations out of earnings, the charges to
looks to us a
little bit strained.
results
are
interesting.
—
THE CHRONICLE.
1366
[Vol. lxxviii.
The importance and significance of tnese comaccount for construction, equipment, etc.,
amounted to almost $5,000,000 ($4,981,778) during parisons lies in the possibility they present of improved
the year, $3,665,292 being for additional tracks, profits per unit of traffic when the situation out of
freight houses, yard facilities, etc., and $1,316,486 for which the poor results recorded h*s arisen is again
new equipment. In order to provide the means for changed for the better. The great increase iu operatthese expenditures, $4,750,000 of new preferred stock ing expenses, as will be recalled, has followed not
capital
the fur-
alone from higher wages and enhanced cost of fuel,
ther expenditures that will be required upon the com
pany's lines from time to time In the construction of
and supplies, but also from the special difficulties under which operations were carried on, owing
to repeated traffic congestion and lack of adequate
facilities to move the growing volume of tonnage.
The improvements made and to be made will serve to
remedy this latter defect, rendeiiag it possible to
move traffic more cheaply and economically than
heretofore.
If, therefore, business should become
depressed and traffic fall off, there should be a com-
To meet
was issued in December at par.
main
additional
shops and other
tracks, increase
of terminal yards,
the elevation of tracks in
Ohicago, and to take care of underlying bonds of constituent companies maturing in the immediate future,
facilities,
$10,000,000 of series
"F"
consolidated bonds were au-
thorized, of which $2,000,000 hare been issued.
Reference was made above to the late year's gain in
revenues, but In noting the increase for any particular
year one gets only an Imperfect idea of the growth
that has been going on in recent periods. It seems
hence desirable to extend the comparisons further
In our review lately of the Pennsylvania Bailbaok.
road report we showed how striking had been the ex-
materials
pensating advantage in a lower operating cost.
ELECTRIC RAILWAY EARNINGS.
Electric railway?, urban and interurban, have been
multiplying so fast in recent years, and have assumed
such growing importance in the financial and investpansion in the earnings of the Pennsylvania Ballroad
ment world, that it seems desirable to make some
system as a whole during the last five years. Prac
summary or review of their earnings. We have
tically every part of the system contributed to this
accordingly brought together, and give at the end of
expansion, and the figures of the Pittsburgh Cincinthis article, a lengthy table comprising all street railnati Chicago & St. Louis furnish proof of the truth
In the table whioh follows we way and electric railways for which we have been able
of the statement.
to procure comparative figures of earnings for the
compare the results for 1903 with those for 1898, five
last two calendar years.
A good many of these are
years before.
1903.
1,418
$28,960,821
$6,682,570
Miles of road
Gross earnings
Netearnlngs
From
1898.
1,403
$18,942,651
$5,293,995
roads that furnish regular monthly returns,
from
make up totals
months ; but large numbers of others
are roads which never supply figures for current
periods and from which we have been obliged to get
which returns we have been able to
for the twelve
be seen that with sub
stantlally no addition to length of road operated gross
earnings in the five years rose from $18,942,651 to
special reports covering the calendar year.
$28,960,821. Furthermore, as emphasizing the slg
The table referred to comprises altogether 135 roads
nifioance of the increase, it must be remembered
(we mean such as give comparative figures of both
that the total for 1898 at $18,942,651 was the very
gross and net), and these 135 roads earned $137,835,540
Net earnings have
largest reached up to that time.
gross in the calendar year 1903, as against $124,645,219
not improved to the same extent (owing to the in- gross in the calendar year
1902, while the net earncreased operating cost), but nevertheless stand at
ings foot up $59,166,241, against $13,767,513.
In
$6,682,570 for 1903 as against $5,293,995 for 1898. addition we have the figures
for 23 other roads reportThe better rates realized have played some part in ing gross earnings alone. Combining these with the
produolng the gains in gross receipts here disclosed, roads first mentioned
we get a grand aggregate of
and yet the expansion in the volume of traffic has gross earnings comprising 158 roads of
$158,712,269
been hardly less noteworthy than the growth in the for
1903, as against $144,193,681 for the calendnr year
aggregate receipts. The subjoined table compares
1909, the increase being $14,518,588, or 10 07 p. o.
traffic movements and rates for 1903 and 1898.
As already said, these results relate to the calendar
1903.
1898.
Freight—
30.920,332
18,301,403 year, the tables including every street and eleotric
Tons moved
2,952,330.024 2,075,933.938
Tons one mile
6*1 mills
6*7 mills
Rate per ton per mile
railway in the country for which it has been possible
the foregoing
will
it
1*3 mills
Profit per ton mile
—
1*5 mills
make up, figures for that period. Of
number of companies have fiscal years
Bate per passenger per mile
which do not correspond with the calendar years and
Profit per passeDger per mile
We would particularly direct attention to the changes will furnish results In no other way than for their own
For 1903 the fiscal years. These fiscal years in numerous Instanoes
in rates revealed by the foregoing.
6*7 mills per ton per cover the 12 months ending June 30.
company realized an average of
In still other
mile on its freight movement, as against 6*1 mills In cases they cover the 12 months ending September 30.
But it will be noticed that even with the larger It will be useful to proceed a step further and see
1898.
Passengers
to obtain, or to
Number carried
Number one mile
10,475,586
303,637,152
206. cents
003ujents
7,357,329
216.039,754
1*98 cents
0-11 oents
rate the net earnings per ton per mile were less, hav.
ing been 1*3 mills per ton mile in 1903 against 1*5
mills in 1898.
In fact
if
we should go back one year
further we would find that the net earnings then were
full 2*0 mills per ton mile as against 13 mills in 1903,
showing a reduction of 35 per cent in ton mile profic.
In the c ise of the passenger traffic the falling of! in
net has been still more marked, the company having
realized in 1903 only 0*3 of
as against
11
mills in 1898.
a mill per passenger mile
course a large
what have been the earnings for the latest fiscal years
of the roads for these two sets of periods.
We recognize
that this method is open to the objection that the results
do not cover a uniform period, but even the United
States Census Office, in the elaborate Bulletin issued last
June, was obliged to have recourse to the same methods, its figures given covering mixed periods
that Is,
In each case being for a company's own fiscal year.
In the table whloh follows we start with the totals of
gross and net for the calendar years 1903 and 1902 as
—
a
b
J
Apr.
9,
1
1
THE CHRONICLE.
1904.
given In our detatled summary, and then add two other
lines of figures, one recording the earnings of all the
roads for which we have returns for the 12 months end
ing June 30 and the other the earnings of all the roads
for which we have the figures for the 12 months ending Sept. 30. By combining the three some idea Is
1367
Oross.1903.
1902.
-Net.
1903.
1902.
9
9
9
c97,440
c31,925
c40,073
63,499
166,443
71,635
C31269
St. Ry.b. ...15,009,321 14,701,385
545,731
Central Crosst. RR.b..
462,130
504,179
Thirty-fourth St.Cros.b
470,196
183,416
28th & 29th Sts.Cross.b
186,557
8,004,345
Road—
Dart. AWestp'rt St. Ry.b
Delaware Co. & Phila....
9
145,656
132.990
42,711
36,607
88,681
84,562
40,746
30,813
Des Moines City «f
535,966
483,150
208,924
173.074
Detroit United Ry.a
4,886.974 3,961,402 1,772,997 1,700,617
Duluth Street Ry.b
622,044
538,030
276,717
249,657
Deoaiur Ry. * L't Co.b .
99,867
79.444
54,311
36,953
Eastern Ohio Traot. Co.a
201,644
189.780
68,526
79,201
65,105
Erie Traotlon
69,507
22,014
17,181
Elgin Aurora * So.b
453,380
410,431
177,465
166,778
El Paso Eleot. Co
222,777
161,109
60,596
63,749
afforded of the magnitude of the electrio railway inElmlra Water. L't & Ry.
Dep'tonly).b
193.835
172.050
(RR.
42,143
43,806
dustry as a whole.
12,699
Ft. Madison, la. St. Ry.a
13,393
3,075
3,657
Wayne & So. WestFort
Gross.
Traotlon a
116,337
ern
74.813
44,473
32,920
1902.
1903.
1903.
1902.
217,781
Galveston City Ry.b
177,273
64,102
57,797
For calendar year as
S
$
$
9
716,721
616,365
36:1,583
309.396
above (135 roads).. 187,835,540 124,645,219 59,166,241 53,767,513 Grand Rapids Ry.b
140,511
135,352
Holmesb'g Tao. & Frank.
63,958
64,067
For years end'g Sept.
189,404
170.709
66,564
58,297
30 (102 roads)
26,781,839 24,678,918
9,470,318 8,930,390 Houghton Co. St. Ry
416,124
360,018
Houston Electrio Co
143,560
149,246
For years end'g Jane
962,266
498.815
Ind Union Trao. Co.b... 1,118,951
445,763
30 (208 roads)
48,703,246 43,803,375 19,587,617 19,169,834
Indianapolis & Eastern..
165,889
101,994
83,749
45,953
GrandtOt.(445rdB.)2l3,320,625 198,127,512 88,224,176 81,867,737 Int. Trao. Co. Sys. (Buf.)b 3,975,007 3,453,065 1,796,263 1,578.032
83,436
79,976
21,956
Ithaoa Street Ry.b
30
348,651
Jacksonville Eleo. Co
199,775
82,708
62,462
The final total in the foregoing, it will be seen, Jamestown Street Ry.a.. 139,519 116.117
43,889
35.217
Johnstown Passeng'r Ry.
345,104
187.031
304,959
156,015
ahows aggregate gross earnings of $213,320,625 in Kingston Consolidated.
118,032
111,960
49,905
47,477
Knoxvllle Traotlon
v262,771 V212.379 vl 25,203
v94,410
1903, against $193,127,512 in 1902, and net earningB Koko.Mar & West Trao.b
62,238
48,657
23,446
19,496
24.886
Laoonta Street Ry
21,775
5,893
1,387
The improve- Lake8hore Eleotrio.a... 616.484 466,051 220,712 160,173
of $88,224,176, against $81,867,737.
81.835
71,297
37,433
41,396
ment in the gross amounts to $20,193,113, or 10*45 Lebanon Valley St. Ry... 139,577
Lehigh Traction. a
98,271
62,634
34,246
315,460
268,883
Lexington Ry b
126,293
110,736
p. c, and the improvement in the net to $6,356,439, or Lincoln (Neb.) Traction..
251,810
213,926
66.146
62,000
313,834
270,768
116,690
93,800
7*77 p. c.
Even these totals fall short of recording Los Angeles Traction
Louisville Street Ry.a... 1,941,599 1,771,887
741,473
644,171
93,135
80,745
36,239
24.033
the entire earnings of the electric railways of the Madison Tr<votion
Metrop W. SldeEl (Chio.)c2,147.153 c2,040,005 cl,104;815 cl,087,297
United States. Some large and Important companies Milw.Eleo Ry.A Light Co. 3,030,477 2,787,321 1,503,567 1,451,286
422,902
Mllw Lt.Heat.&Trao.Co.
354,762
209,882
153,347
49,700
47,800
10,900
12,000
are missing simply because no data concerning their Mo Water. Light & Trao.
>
,
—
One of the
income can be obtained.
is
the Public Service Corporation of
which
year,
has
and
smaller
not
which
is
been
yet
the
is
of
New
these
Jersey,
existence
consolidation
a
Nor
companies.
in
a
full
hosts
of
of
Union
Chicago
Traction Go. included, this being in receiver's hands;
nor sach roads as the Georgia Ry. & Electric Co.,
the Indianapolis Traction & Terminal Co. or the New
Neither does the total given
embrace railroads like the United Railroad of San
Francisco, the Cincinnati Traotlon Co., the Cleveland
Electric Railway Co., the Lake Street Elevated RR.
of Chicago or the Nashville Railway & Light Co.,
owing to the fact that these roads, though reporting
to us, have made returns as to gross only.
We should
judge that if we could have returns covering all the
Orleans Railways Co.
street and electric railways of the country, the aggregate of groes earnings for 1903 would be between
$275,000,000 and $300,000,000. The United States
Census In Its report for 1902 showed gross earnings
of $247; 553,999.
The
following
the detailed statement for the calendar year already r ef erred to, and which shows separately the comparative figures for each road contribut
is
Ing returns.
STREET RAILWAY GROSS AND
CALENDAR
•
Road—
Albany & Had. RR. Co.a
NET EARNINGS FOR
YEA.R.
Gross.
1903.
-N~el.-
1902.
1903.
1902.
$
9
9
9
275.339
241,584
95,241
68,977
Alton (111.) Lt & Tract.
175,608
155,763
65,132
73,796
Aghevllle (N. C.) El. Co.b
163,800
160,900
61,400
33,200
Athens (Ga.) Eleot. Ry ..
61,299
47,598
38,554
29,507
Augusta (Ga.) Ry. A El..
238,188
219,297
105.101
118,128
Bingham ton St. Ry.b ...
238,272
211,127
110,947
88.962
Bennlngt'n & Hooslo V. b
39,610
11,295
11,029
38,215
Blrmlngham Ry.Lt. &P. 1,311,852 1,076,767
493,217
604,153
Broofcton & Plymouth...
97,811
90,386
23,400
20,343
Brooklyn Heights RR.b. 13,137,999 11,857,697 5,196,208 4,442,816
B'klyn Qu'ns Co. <fc Sub. b
845,107
831,788
409.507
415,375
Camden & Suburban
551,108
210.836
493,301
203,924
Capital Traotlon (Wash.) 1,413,312 1,381,032
749,046
822,374
CapeMayDel.&Sew'llsPt.
19,105
19,009 def. 12,335 def. 3 2,3 8 2
Central Penna. Traot. a..
512,659
457,704
185,212
188,877
Charlotte (N. O.) Eleot.
Ry. Light & Power
Charleston Consol. Ry.
Gas&Eleot.b
..
168,233
144,669
63,464
1538,173
J608.470
:187,281
125,147
1,787,224
J239.479
127,267
2,076,678
110.746
197.110
493,550
13,073
83,518
32,255
129,230
597,019
t90,092
333,370
317,481
ChioagoClty Ry.a
6,435,565 6,413,182
Chloago& Milwaukee El.
292,247
190,110
Cln. Day. & Tol. Tract. Hb
616,649
441,030
Cln.Newp &Cov L.&l'.a 1,224,362 1,103.998
38,156
214,631
144,103
Cleve. & Southwestern ..
445,167
Coney Isld. ABkln.b.... 1,618,820
Dayton Sprlngi'd&Urb..
324,778
Clev. Palnesv.
& Eastern.
Columbus (Ga) RR. Co..
Gas
Newark
N. J.
33,899
189,187
113,627
300,846
1,565,922
1193,082
193.620
214,914
523,390
15,230
87,482
45,644
180,936
565.557
108,270
&
&
Granville
Hud. River RR...
New London Street Ry...
New York City—
c82,099
c33,461
c45,764
91,634
199,891
72,504
Interurban
42d Manh.&St. N.Av.b
805,646
542,440
Third Avenue RRb.... 2,184,047
822,021
568,267
2,274,638
Union Ry.b
1,214,009 1,080,596
248,923
Westchester Eleo. Co.
231,127
289,517
239,505
YonkersRR.b
622.483
N. Y. & Queens Co b
586,335
116.175
New York & Stamford... 118,528
Nlag.Bt. Cath. & loronto.
214,823
172,840
Norrolk Ry. & Light Co.a
614,039
513,324
North. Ohio Tr. & Lt.Oo.a
882,276
745,043
465,394
269,116
Northern Texas Trao.b..
Northwestern El. (Ohio). 1,642,039 1,410,998
Oakland Tran. Consol.b. 1,137,041
945,865
OhioRiv. El. Ry. &P.CO.
49,558
42,528
Olean Street Ry
95,489
63,587
109,248
101,7 16
OraDge Co. Traotlon Co.b
Oregon Wat. Pow. & Ry..
229,497
131,150
Oswego Traotlon Co.b...
36,798
44,478
Peekskill Ltg. & RR. Co.
110.871
102,355
Philadelphia Co.a
15,313.791 13,773,035
Plattsburg Tractlon.b...
19.496
18,936
Philadelp'a & Chester Ry
23,807
17,978
45,344
Pottst'n (Pa.) Pass. Ry.a.
40,578
219,991
Pottsville Union Tr. Co..
161,648
Rochester Ry.b
1,270,192 1,108,325
Rockl'd & Interurb. Ry..
200.633
167,576
596,685
St. Jo. (Mo.) Ry. b.H. <te P.
546,275
St. Louis Trausit Co.a... 7,295,847 6,452,218
Sauford & Cape Porpoise
97,493
82.687
Savannah Electric Co....
519,774
430,510
Schenectady Ry. Co.b...
658,019
410,809
Schuylkill Valley Trao'n.
306,847
277,714
SorantonRy
827,778
549,407
Seattle Eltctric Co
2,096,725 1.878,100
So. Side Elev. (Chic). a... 1,679,310 1,483,843
Southwest. St. Ry. (Phil.)
54,581
49,085
Springfield (Mo.) Trao.a.
98,871
90,672
Syracuse Rap. Transit, b.
806,188
718,347
Taooma Ry. & Power Co.
493,587
442.218
Tampa Electric Co
304,45
238.772
Terre Haute Eleotrio Co.
474,250
327,957
Toledo BowLGreen & So.
288,301
246.768
Toledo Rys. & Light Co.. 1.663,794 1,459,091
Trenton Street R/.b
421,640
365,785
Twin City RaD. Trans. b. 4,063,938 3,612,210
"
United Ry. & Eleo. (Bait.) 5,480,629 5,041,275
Union St. Ry. (N. Bedf.)b
326,124
366,158
United Traot. (Albany)b 1,659,767 1,507,785
United Traot. (Reading).
600,368
537,383
Utioa & Mohawk Valley.
697,492
513,182
Washington Ry. & Eleot. 2,462,294 2,325,775
Wash. Water Pow.Oo.Sys.
801,253
t626,297
W'terloo &Ced. Falls R.T.
86,42
90,772
Wllkesb Dal as A H.Lake
53,850
42,375
Wllkesb. & Wy. Val. Trac.
593,906
804,181
Winston-Sal. Ry AEleo a.
1103,660
1123,114
Young8t.<te Shar.Ry. A Lt.
444,986
511,814
DryDE.B'way&Bat.b
I
Total (135 roads)
57,971
Chester (Pa) Traotlon...
Corning & Painted Post.b
& Llght.Oo.
Street Railways
Eleotrio Light
Muskegon Tr.
largest
C33.393
C17.287
014,151
30,412
99,744
23,020
C22.772
c 17,909
32.098
116,615
20,396
7,652.807
143,579
180,641
79,253
215,940
247,837
82,211
299,963
128,696
340,124
95.007
932,572
303.780
1,073,802
343,298
def. 44,9d8 def.41,018
28.120
34,380
261,979
237,269
37,665
42.535
72,367
46,087
236,167
164,916
334.250
399,701
204,037
996,792
554,976
20,715
49,044
30,506
101,484
12,414
47,686
145,433
946,597
395,520
19,147
27,705
39,033
51,119
6,436,093
4,594
6,559
87,579
5,980.850
3.270
920
def.5,587
9,286
100,420
621,068
88,378
277,880
2,782,333
34,849
212,075
204,094
82,768
353,022
598,821
684,934
21,522
33,983
343,139
148,459
129,815
162,167
116,103
807,268
219,733
2,185,888
2,926,388
107,400
523,078
225,176
273,032
1,134,243
357,464
42,386
16,393
311,965
139.779
208,773
14,165
51,911
524,978
70,696
260,193
2,484,498
16,107
212,519
117,324
56,484
150,856
554,723
621/05
14,108
32,756
319.301
107,379
99,150
62,602
112,712
732,312
184,657
1.932,041
2,789,142
124,341
480,715
232,887
197,921
1,073,961
t284,412
40,226
15,826
310,755
135,816
200,014
137,835,540 124,646,219 59,166,241 53,767,513
a Net earnings of this company are after deducting taxes.
b Net earnings of this company are before dednoting taxes.
c Figures are for years ending Feb. 29, 1904, and Feb. 28, 1903.
Ihese figures are for years ending Nov. 30.
: Figures are for years ending Feb. 29, 1904, and Feb. 28, 1903. The
latter year included the period of the Exposition held at Charleston.
1T For the last eighteen months to Deo. 31, 1903, figures are for C. D.
& T. Traotlon Co.; for six months from Jan. 1 to June 30, 1902, figures
are for Southern Ohio Traction.
t
.
THE CHRONICLE.
1308
ROAD3 REPORTING GROSS ONLY.
Increase.
1902.
1903.
Roads.
earnings
reported
Gross
187,836.840 124,645.219 13,190,321
above (135 roatls)
1,353,718 1,148,222 205,528
American Railways Oo
2,620
27,025
29,645
Atchison Ry. Li«hc & Pow.
6,409
69,066
75,475
Burlington (Vt.) Tract. Co.
45,462
155,074
200,536
Chattanooga Eleotrlo
138 277
8,697,962 8,559.685
Cincinnati Traotlon Co
...!....
4,306,491 4,560,111
Cleveland Eleotrlo Co
9,084
89,865
CiH/ans' Ry.& Lt. (Maaoat.)
98,899
67,776
380,463
448,239
O >nestoga Traotlon Co
26.154
194,959
169,805
Kvansvllle Eieor. Ry. Co...
25,632
756,165
Lake Street Elevated
781,797
Lehigh Valley Traotlon—
90,734
714,801
RR. Department
805,535
17,696
167,979
150,283
Light Department
10,479
210,901
22 1 ,380
Lewiston Bruns'k <fc Bat h.
19,197
284,793
Mobile Light & RR
303,990
8,841
100,972
92,131
Montvilie (Conn.) St. Ry...
2,681
10,800
Mt. Vernon (Obio) El. Rt..
13,481
9,463
119,443
128,906
Qulnoydll.) H'reeBy.&Car.
86,355
785,607
Nashville Rf. <te Light Co..
871,962
Railways Co. General41,724
314,459
272,735
Railways
1,254
21,774
23.028
Light companies
2,791
20,251
St. Clair Incline Plane
28,042
25,747
87,724
Sheboygan Lt. Pow. & Ry..
113,471
United RRs. of San Fran... 6,243,218 5,538,919 704,209
12,598
Wash. Alex. & Mt. Vernon.
230,258
217,660
22,138
Winnebago Traotlon
128,297
106,159
Becr'se.
[Vol. lxxviii.
R. B. Van Cortlandt, of Kean, Van Cortlandt & Co.,
bankers Stephen H. Vcorhees, Agent of the Royal Bank of
Canada William G. Besler, Austin Corbin, D. S. Connor,
Robert W. De Forest, Allison Dodd, Henry W. Douty,
A. Foster Higgins, George D. Harris, Henry E. Howland,
Theodore M. Ives, J. C. Juhring, A. A. Llsman, James H.
Parker, Edwin H. Peck, George Sheffield, John T. Sproull
Leopold Wallach and Samuel Weil. Mr. John T. Sproull is
the President of the new institution.
;
;
......
253,620
—The
New York National Exohange
Bank,
Chambers and West Broadway, on Friday unanimously
elected Mr. Frederick Worth a Vice-President and member
of the board. Mr. Worth is the well-known paying teller of
the National Park Bank.
directors of the
—Mr. Harry Payne Whitney has been elected a director of
the National Bank of Commerce in N«w York, to succeed
•
Total (158 roads)
Net increase (10-07 per
ct.)
158,713.268 144,193,681 14,772,208
14,518,688
TEMS ABOUT BANKS BANKERS AND TRUST
—The public sales of bank stocks this
his father, the late
—
253,620
CO'S.
week aggregate 524
the Stock Exchange
which 317 shares were sold at
and 207 shares at auction. The transactions at the Stook
Exchange were all in National Bank of Commerce and National City Bank stocks and the auction sales included stock
shares, of
in only
two other banks.
changed hands at public sale
Mharts.
Barks— Ne%e Zork.
No
company stook has
this week.
Price.
•85 City Bank, National
V236 Commerce, National Bank or.
8 Importers' & Traders' Nat Bk.
200 Mechanlos' National Bank....
* Sold at the Stook Exohange.
sold at the Stook Exohange.
trust
IF
265-266»«
202^-204
550-553
295
ion^ previous tale
Mar. 1904— 265
Mar. 1904 - 202^
Feb.
1904— 610
Mar. 1904— 317%
Of this amount 232 shares were
—Mr. J. Pierpont Morgan sailed for Europe on Wednesday
on the White Star Line steamship Oceanic,
William C. Whitney.
this being his
usual spring trip to the other side.
— Following close
on Mr. Albert H. Wiggin's withdrawal
as Vice-President of the National Park Bank of this city the
A meeting of the oreditors of the banking firms of J.
William Middendorf & Co. of Baltimore and John L.
Williams & Sons of Richmond, Va., was held in Baltimore
on Wednesday to consider a proposition for the ^extension of
the credit of the two houses. The meeting was largely
attended, nearly all of the important interests being represented. Mr. Robert C. Davidson, President of the Baltimore
Trust & Guarantee Company, the Chairman of the advisory
committee, submitted a proposition advising an extension for
one year from May 1, when the extension for several months
granted October last will expire. Mr. Davidson also told of
the method the advisory committee has pursued in Conducting the affairs of the two firms. Mr. E, L. Bemiss, of John
L. Williams & Sons, furnished a detailed statement of the
liabilities of the firm on October 1 1903, when the first extension was granted, and another statement up to April 1
1904, showing a reduction of $3,206,000 in the liabilities from
the original amount of about $10,000,000. On a rising vote
the proposition for the extension was unanimously agreed to.
—
Last Wednesday, W. Murray Crane, ex-Governor of
Massachusetts, and Clarence H. Mackay, President of the
Commercial Cable Company, were chosen directors of the
Manhattan Trust Company of Wall and Nassau
streets.
—On April 4th, Mr. Herbert B. Smithers son of the senior
member was admitted into the firm of F. S. Smithers & Co.,
two new Vice Presidents
They are Messrs. John C. Van Cleaf and John 44 Exchange Place. Mr. George H. Schinzel, of the same
firm, died at his home in Hoboken on Thursday in his 56th
C. McKeon. Mr. Van Cleaf left an old dry goods concern
seven years ago, to accept a position with the credit depart- year. He had been a member of the firm for the past thirty
ment of the National Park Bank. Through efficient and years and of the Stock Exchange since 1872.
directors of that institution elected
last
Tuesday.
faithful services Mr.
Van Cleaf gradually rose by successive
promotions to be one of the National Park's Assistant
Cashiers, in which capacity he had oharge of its extensive
credit department for many years. Mr. Van Cleaf is also a
director and Vice-President of the Mutual Bank, Broadway
and 83d Street, having been elected to the latter office on
—The new Citizens' Central National Bank, of 820 Broadway, makes a strong showing in its initial statement to the
Comptroller under the call of March 28. The consolidated
institution, representing a merger of the old National
Citizens' and Central National Bank, commenced business,
it will be remembered, under its new name on March 14.
March
The new concern's deposits March 28 were $24,207,518 and
Its capital stock
its surplus and undivided profits $541,708.
10th.
Mr. McKeon has for several years been Vice-President of
the Commercial National Bank of Chicago, and has won a
most enviable reputation throughout the country as a sound
and conservative banker. Back In the eighties he and President Eckels of the same bank were friends and close associates, the one as County Clerk of La Salle County, 111., and
the other as practitioner at the bar. Bothaf forwards became
national bank examiners (Mr. McKeon being an appointee of
Mr. Eckels when he had risen to the ComptroJlership of the
Currencv), and in 1896 Mr. MoKeon was made receiver of
the failed National Bank of Illinois. At the reorganization
of the Commercial National Bank in 1898 he was chosen as
and total resources were over $28,641,000. Mr.
Schenck Is President Ewald Fleitmann, ViceHenry Dimse, Cashier Nelson A. Reynolds and
President
Albion K. Chapman, Assistant Cashiers.
Is
$2,550,000
Edwin
S.
;
;
;
—Tracy & Company, Chicago, New York and Milwaukee
bankers and brokers, have added a St. Louis office to their
They have leased the quarters formerly occupied by
list.
the Germania Trust Company, corner of Fourth and Olive
streets, one of the choicest business locations in St. Louis.
James H. Brookmire of St. Louis and A. J. Lester from
Springfield, 111., will be the managers in charge.
—The suspension was announced on Monday of the broker-
Vice-President.
—A
membership in the New York Stock Exchange is
reported to have been transferred yesterday for a consideration
of $68,000. On Thursday two memberships sold at $67,000
each.
age houee of
W.
B.
Mack
&
Co. of tbis city.
Mr. Philip
J.
The firm is understood
to have been short of Union Pacific and other stocks and
therefore to have been hard hit by the recent rise. They
—The Coal & Iron National Bank of this city— to which also suffered from the failure of D. J. Sully & Co., the latter
reference was made in the Chhonicle last week— will firm having been a debtor to W. B. Mack & Co.
open for business on Monday, having previously absorbed
—The R9al Estate Trust Co. of this city is sending out cirthe Varlck Bank. The new institution has a capital of culars to its depositors reminding them that should they
$800,000 and surplus of $200,000, and its board of directors contemplate a brief or an extended tour this summer, they
consists of Messrs. Charles T. Barney, F. L. Eldridge and may use their accounts with the trust company by means of
William B. Randall, respectively President, First Vice- letters of credit. The institution will also undertake the
President and Trust Officer of the Knickerbocker Trust Co. care of the depositor's personal property and the collection
of this city, D. G. Boissevain of Boissevaln
&
Co., bankers
;
Britt
was
later appointed assigoee.
of his income,
if
desired.
»
Apr.
9,
—On April
THE CHRONICLE
1904.
1369
—The Diamond
Savings Bank of Pittsburgh has declared a
first quarterly dividend of 2 per cent, this being at the rate
of 8 per cent par annum. The institution is controlled by
the same interests as the Diamond National Bank, Mr. William Price being President of both institutions.
the Marine National Bank of Baffalo paid it3
regular quarterly dividend of 10 per cent, this beiDg at the
rate of 40 per oent per annum.
1
—Mr. John W.
Schofield has been appointed by the CompCurrency as receiver of the American Exchange National Bank of Syracuse, N. Y.— to the suspension of which we referred in our issue of February 18. The
bank has heretofore been in charge of National Bink Examiner Van Vrasken.
The New England Trust Co. of Boston is proposing to
construct a new building, to be only two and a-half stories
high 8nd to be occupied entirely by the trust company. The
new edifioe is to be located on the site of the Rialto Building, at the corner of Milk and Devonshire streets, and will
occupy about 5,C00 square feet of land. It is proposed to
locate the banking department on the first floor, the bond
and trust department on the second floor, while the basement
will be used for the safety-deposit vaults.
troller of the
—The
first
is
Iron City Trust Co. of Pittsburgh has declared its
dividend, the amount being IX per cent- The dividend
understood to be quarterly, thus putting the stock on a
5-
per cent basis.
—
—Mr. John Omwake,
President of the United States Play
ing Card Co., was on Tuesday elected a director of the Cincinnati Trust Co. of Cincinnati to succeed Mr. E, G. Tillotson of Cleveland, the latter having disposed of his interest in
the institution. It is stated that there is now only 200 shares
of stock of the trust company held outside of Cincinnati.
—The Akron
Savings Bank of Akron, 0\, closed its doors
The suspension, it is stated, was precipitated by the
action of the Clearing House in
—The Atlas National Bank of Boston—the consolidation of make its clearings in cash. The compelling the institution to
Court of Common Pleas apwhich with the Webster National was announced in these
pointed Hon. William Buchtel, the President of the institution,
columns some time ago— is now closing up its affairs and its
and Hon. George W. Sieber as receivers. The bank was at once
creditors are being notified to present their claims for
April
5.
pay-
The new Webster- Atlas National Bank opened for reopened under the charge of the receivers and, it is stated,
the enforcement of the double liability law will enable the
business on Monday in the quarters formerly oocupied by
ment.
receivers to pay the depositors.
the Atlas National in the Sears Building.
—Mr. Philip Stockton, President of the City Trust Co. of
Boston, has been elected a director of the National Bank of
Commerce, also of that city.
— Mr. Daniel
G-.
Wing, agent
in liquidation of the
and undivided
—The
profits, $69,202
and deposits about
$850,000.
Bank of Cleveland, which—as
columns on March 26— is being taken over by
Colonial National
stated in these
Globe
the Union National Bank, is now in process of liquidation
and all note holders and other creditors of the institution are
being notified to present their claims for payment.
National Bank of Boston, has applied to the court for permission to pay a dividend of $17 per share to the stockholders,
completing the liquidation of the institution. Depositors it
will be remembered were paid in fnll with interest. Stockholders were assessed 100 per cent, and the present dividend
is a return to them of part of the amount.
—The
In a statement of condition
as of April 4th the capital is reported as $200,000, surplus
—Another
consolidation of Cleveland banking institutions
announced, the participants this time being the Citizens
Savings & Trust Co. and the Prudential Trust Co., both of
that city. The plan is for the Citizens' Savings & Trust Co.
to take over the entire assets and deposits of the Prudential
and to issue 2,580 shares of stock of the Citizens' in exchange
for the 6,000 shares of the Prudential. No change in the
officers or directors, it is stated, will be made at the present
time. The Prudential Trust Co. has a capital of $600,000,
surplus and profits of $166,756 and deposits of about $1,250,000, while the Citizens' Savings & Trust Co. has $4,is
—
National 8uffolk Bank of Boston which it will be
consolidated some time ago with the Second National Bank, has declared another dividend to its
stockholders, the amount this time being 10 per cent. This
makes a total of 130 per cent paid in liquidation.
remembered— was
—Samuel W. McCall and Charles F. Choate Jr. were on
Monday appointed receivers for the Union Trust Co. of
Boston, which, as stated in these columns last week, closed
doors on March 31.
000,000 capital, $2,280,230 surplus
its
and
profits
and
deposits of
about $27,000,000.
—The
bill providing for a general incorporation law for
companies in Massachusetts so as to relieve incorporators from the necessity of obtaining special legislation in
each instance, which was reported favorably by the Committee on Banks and Banking to the Massachusetts Legislature on March 21, as mentioned in these columns on April 2,
was, on Tuesday, by a vote of 18 to 10, referred to the next
General Court by the Senate.
At a regular meeting on Thursday of the stockholders of
the Trust Company of North America at Philadelphia, Mr.
Charles P. Lineaweaver was elected Secretary and Trust
Officer to succeed Mr. Henry B. Bartow, resigned.
— Mr. Robert
trust
McCurdy, who had been President
of the
Bank of Youngstown, Ohio, since 1877, died
at his home on March 25th. He has been succeeded as
President of the bank by Mr. Myron I. Arms, formerly the
First National
Vice-President.
—The Dayton
Savings
& Trust
Co. of Dayton, Ohio, has
issued a statement of condition as of April
opened for business on December 28
—
three
months
last,
4,
This institution
in the first
and
shows deposits of $551,896. Its
and surplus and undivided profits are
while total resources amount to $940,753.
The
of its existence
capital is $800,000
$88,856,
A. J. Conover, President; L, D. Reynolds, First
Vice-President; AdamLessner, Second Vice-President; Chas.
A. Herbig, Secretary and Treasurer; Cashier, William R.
officers are:
—Mr. A. D. Robb, formerlyiAeslstant Secretary and Treasurer of the Colonial Trust Co. of Pittsburgh, has been
elected Secretary to succeed Mr. John A. Irwin, resigned.
Craven; General Counsel, Kennedy, Munger
Mr. George K. Reed wag appointed Assistant Secretary and
Mr. Thomas C. Stephens Assistant Treasurer, to succeed
& Kennedy.
—The following Chicago national banks show handsome
gains in deposits by comparison of the statements of January 22d and Mar oh 28:
National Bank of the Republic increase
$2,788,000
"
Continental National Bank,
1,384,000
"
Port Dearborn National Bank,
924,000
"
Obloa«?o National Bank,
887.000
National Bank of North America,
"
710,000
"
Commercial National Bank.
610,000
Mr. Robb.
—Mr. S. Clarke Reed has been elected Assistant Cashier of
the People's National Bank of Pittsburgh to succeed the late
Mr. Frank L. Boggs, whose death was announced in the
Chronicle some weeks ago.
—Interests identified with the Metropolitan National Bank
of Pittsburgh are organizing a new trust company. The
name of the new institution is to be the Metropolitan Trust
Company, and it is to have a capital of $125,000 in $100 shares,
—Cashier Joseph T. Talbert of the Commercial National
Bank of Chicago will be advanced to the Vice- Presidency
all to be owned by the Metropolitan National Bank interests.
just made vacant by the resignation of Mr. John C. McKeon,
The quarters formerly occupied by the failed State Bank have to accept an office of equal rank in the National Park Bank
been purchased, it is stated, and will become the home of the of New York City. Mr. Talbert is a banker of positive ideas,
new institution. It is expected that the trust company will and practical as well. Prior to his appointment as Cashier
open in about a month and will conduct a general banking of the Commercial National, In December 1897, his schooling
business. President John Runnette of the Metropolitan Na- in finance was principally as National Bank Examiner — first
tional Bank will, it is said, become President of the new in- in Texas and the Southwest, then throughout the Rocky
stitution, and the board of directors will be about the same Mountain States, with headquarters at Denver; then in Minas that of the Metropolitan National Bank.
I
neapolis and the Northwest, and then at Chicago.
THE CHRONICLE.
1370
—The
.
.
.
[Vol. lxxviii.
&
SavAmerican Trust
Chicago, ending with March, showed net earnings Bank,
ings at the rate of 20 per cent per annum on its capital of
$2,000,000. This is certainly a very satisfying record to stocklast quarter's business of the
DBBT BEARING NO INTEREST.
United Statesnotes
$840,681,016 00
Old demand notes
68,847 60
National bank notes— Redemption acconnt
38,689,896 00
Fractions on rrenoy less $8,375,934 estlm'd as lost or destroyed
6,870,686 68
)
,
Aggregateof debt bearing no merest
$808,294 846 IS
I
holders.
—Mr. Nelson N. Lamport, formerly Cashier of the Fort
Dearborn National Bank of Chicago, has been appointed
Second Vice -President of the institution and will be succeeded as Cashier by Mr. Henry R. Kent, lately with the
Farmers' & Merchants' Bank of Lincoln, Neb. The other
officers of the Fort Dearborn National are Mr. L. A. Goddard,
President, and Mr. Charles L. Farrell, First Vice-President.
RECAPITULATION.
Claisiftcation of Debt—
Interest-bearing debt
Debt, Interest ceased
Debt bearing no Interest.
Mar.
Inc. or Dec.
1904.
Feb. 89, 1904.
896,156,740 00
2,670,510 26
892,294 .846 13
895,156,700 00
8.161.680 20
892,784.769 18
81,
$
,
Dec.
Deo.
981,043 00
1,291.103.189 39 Deo.
873.068,606 51 Ino. 1,681,490 44
1,290.122,096 39
Total gross debt
Oash balance In Treasury*. 874,699.695 95
Totalnetdebt
$40 00
491,170 00
489,913 00
Ino.
Deo. 2,612,688 44
918.034,638 88
915,422.100 44
*Inoluding$160,000,000 reserve fund.
—A
new
company for Hannibal, Mo., has been
organized, the name of the institution being the Hannibal
Trust Co. The capital is to be $200,000, but it is stated only
trust
be paid in. Among the incorporators are
Messrs. J. W. Perry of St. Louis, Geo. B. Treat, Robert
Robinson, W. J. Roth and T, B. Arnold of Hannibal.
$100,000 w«iil
—The Atlantic Trust & Deposit Co. of Norfolk, Va., has
accepted plans from Messrs. Neff
Thompson, architects,
for its new building to be located on the corner of Main and
Fayette streets. The buildings whioh now occupy the lot
are to be torn down and the new five-story structure erected
in their place. The bank's offices will ocoupy part of the
main floor, the remainder of that floor and the other four
floors to be rented as general offices.
In the rear of the general banking department there will be installed, a modern
fire, burglar and water proof vault and, also, safety deposit
boxes. It is estimated that, when completed, the structure
will cost about $65,000. The Atlantic Trust
Deposit Co.
has a paid-in capital of $90,500 ; surplus and profits of $99,676 and deposits of $134,177. The officers are
President, A.
E. Krise Vice-President, C. W. Fentress
Secretary and
Treasurer, R. A.Dodson Assistant Secretary and Treasurer,
Robert I. Bosman.
&
&
:
;
;
;
The foregoing
figures
show a gross debt on Mar.
and a net debt (gross debt less net cash
Treasury) of $915,422,100 44.
of 11,290,122,096 39
in the
Treasury Cash and Demand Liabilities.— The cash
holdings of the Government as the items stood Mar. 81
have prepared from the Treasury statement of that date.
Fund Holdings—
Fourth National Bank of Nashville, Tenn., at the
meeting on March 31, deolared a quarterly dividend of V/>
00
00
00
00
ou
General Fund Holdings—
Gold ooln and bullion... $98,629,690 76
Gold certificates
Silver certificates811ver dollars
Silver bullion.
Dnited States notes
Treasury notes of 1890..
National banknotes....
Fractional silver ooln
Fractional currency
. .
7,038.921
9,765,303
1.716,404
5,278,146
57.384
10.116.5H6
11,645,932
00
00
10
00
00
00
39
178 48
Minor ooln.
Bonds and Interest paid
M8.728 55
Total trust liabilitles. .$936,bo6,569 00
Oen. Fund LiabilitiesNatlonal bank 6 percent
fund
. .
$15,116,308 86
Outstanding checks and
8,673,058 44
drafts..
Disbursing officers' balances
Post Office Department
account
Miscellaneous items, .
Total gen.
.
53.544,860 64
8,541,676 84
1,688.409 46
.
liabilities...
$87.604,910 64
83
14
38
*7
58
81
89
00
$i,8»u,uii,476 59
Grand total
Gold certificates
811 ver certificates
28,382 95
Tot, in 8nb-Treagnrle s.$144,9f3,fl07
In Nat. Bank DepositariesCredit Treasurer of U.S.$i54,283,810
7,770.148
Credit U. 3. dlsb.offloer s
.$i62.Q68.n53
Total in banks
In Treas. of Philippine lslds.—
Credit Treasurer of C S. $l,w63,021
Credit U. S. disb. offloer s.
3,199,924
Total in Philippines.
$5,1 62, 9a5
Reserve Fund Holdings—
Gold ooln and bullion ,tl60,000,000
Fund
Liabilities$440,849,669 00
478,186,000 00
Treasury notes of 1890.. 14,872,000 00
Truit
$449,349.669
478.C8S.000
Sstver dollars
Sliver dollars of 1890.. . .
8,648.770
Silver bullion of 1890.
6,889,280
Total trust funds
.$938,806,669
.
we
LIABILITnB.
ABfflRS.
Irutt
Gold coin
.
—The
31, 19C4,
—
Cash Balance A Reserve
Total cash and reserve. .$374,600,906 06
Made up of—
Available.. $224,690,996 95
and
Reserve Fund
Gold & bulL$150.000.0 00 00
Grand total
$1,399,011,476 60
per cent, as against 2 per cent previously paid. This increases the dividend rate from 8 to 10 per cent per annum.
Canadian Bank Clearings.— The Clearings of the Cana
dian Banks for the month of March, 1904, show a decrease
doors on Monday, owing, it
and to a "run" on Monday. The Comptroller of the Cur- from the same month of 1903 of 11*8 per cent and for the
rency has appointed Bank Examiner Myron R. Sturtevant as three months the loss reaches 7-8 per cent.
receiver. The institution had a capital of $100,000, surplus
Three Months.
March.
and profits of $20,893 and deposits of $1,206,152. On Tuesday
Clearings at—
In. or
In. or
1904.
1903.
1904.
1903.
Dec.
Dec.
the Citizens' Bank at McLoud, Okla., also closed its doors,
% 2i6,526,0f6 258,235, 533 -12.8
$
owing to the suspension of the Capitol National, Charles E. Montreal
77.433,388
98,051765 -194
—The
Capitol National
Bank
of Guthrie, Okla., closed its
is stated, to a severe drain of late
. .
—A new bank
for Albuquerque,
Winnipeg...
Halifax
New
Mexico, has been organized, the name of the new institution being the State National Bank and its capital $100,000. O. N. Marron is Presi
dent, D. A. Macpherson Vice-President, J. B. Herndon
Cashier and Roy McDonald Assistant Cashier.
DEBT STATEMENT MARCH
Ottawa
Quebec.
V ancouver
Hamilton...
St. John....
London...
.
Victoria
Total Canada
31, 1904.
of the public debt and Treasury
cash holdings of the United States are made up from official
March 31, 1904. For statement of Feb. 29,
Chronicle March 5,1904, page 965; that of March 81,
April 18, 1903, page 842.
figures issued
tee
Htle of
Hi,
4s,
4s,
*s
4s,
Loan—
payable,
Q.— J
Loan of 1908-1918.. Q.-r.
Funded loan, 1907..O.- J.
Consols Of 1930
Amount
issued.
31,
$
638,877.800
198.798.660
41,656,220
740,926,700 114,801,840
I
9.532,660
86.679,140
41,790,800
642,009,960
Refund'goertlflo's.Q.— J. 40,012.760
Loan of 1926
(J.— F. 162,316,400
-lr8
581.071,892
6<0,415,882 —7*8
222.918.559
1904.
$
16,126,640
10,828, v27
8,446.759
1,164.890
1.659.4H4
1,112.804
1,116,181
836.191
733.59W
686,571
583,825
1904.
Coupon.
208,798, 05«
48,659, 228
21,382, 387
a
Week ending March
Amount Outstanding.—
Registered.
177,881,481
60.115,716
19.906.S15
24.032,93)
16.228. 134
15,515,559
13,324,815
10.827,734
9,979,2
7.763,u30
+198
—
1908
intere.it
-143
+235
7,260,333 —9-9
7,9u5,lf0 -t-6-8
5,800,092 -84
4,35«,887 +2S-6
8,972,697 4-152
3.167.911 4-15-7
3,631,318 —1*8
2.167,806 +105
16,30f>,88U
Clearings at
1904,
INTEREST-BEARING DBBT MARCH
19ft.568.2l4
72,270,715 -17'7
28.>-87. 742
17.054, 990
12.9 8, 065
12,184, 252
10,133, 211
10,258, 401
8,883, 488
-6-9
+0*6
—4-8
+19-7
+9-5
+6-8
-2-7
+12-6
The clearings for the week ending March 2 make an unfavorable comparison with 1903, the decrease in the aggregate having been 30*4 per cent.
The following statements
»ee
69.474,w89
19,534,990
6,54H,H26
8.362.09H
6,607,003
6,S86,553
4,678.671
8,664,986
3.5H6.054
2,416,835
Toronto
Billingsley being President of both institutions.
lotai,
$
642.909,950
77,186, :teo
166,5k 1.660
26,887.650
895,136,740
88.144,551
$
22,613,597
19,359,090
3,620,0 '9
l.«67,579
2,058,861
1,847,477
951, 6114
Dec.
-28*7
2.
1902.
$
1901.
$
17,878,827
10 816 039
1,882,723
1,514,822
735,929
1,045,605
427,298
-03
14,223,389
15,846.775
2.114.208
1,805.956
1,561,634
940,648
642,860
914,160
594,570
—34*3
+31-1
324,696
300,000
64,771.838
-30 4
40,009,444
S3.S38.9S8
9f>6,U>9
-389
—4-8
—29
7
-242
—17-4
+17-2
-14-6
709,074
810,878
420,065
29,880
UH.489.1HX)
Agg'te Int.-Bearlng Debt. 1.684,967,460 781.897,120 118,239,740
Total Canada
1903.
Inc. or
Motb— Denominations of Bonds
Of
Of
Of
Of
Of
92,162.260
are
$10 only refunding certificates; of $20 loan of 1908 ooupon and registered
Issues except 3s of 1908; of llOOiill Issnes:
*50all
*500 all except 5s of 1904 coup.; of $1,000 all lssaos;
$6,000 all reglste'd28,3s and 4b: of $10,000 all roistered bonds;
$20,000 resist. 4s loan of 1907; of $60,000 registered 2s of 1980.
:
DBBT ON WHICH INTEREST HAS CBA8BD SINCE MATURITY.
Feb. 29.
Funded Loan of 1891, oontlnned at 2 percent, called
May 18,1900; Interest oeased August 18, 1900.... $88,200 00
Funded 1. nan of 1891. matured September 2 1891..
66.460 00
Loan of 1904, matured February 2. 19;)4
1,965. 20u00
Old debt matured prior to Jan. 1, 1861
1,066,880 26
Debt on which Interest has oeased
$8,161,680 20
Mar.
81.
$83,200 00
66.460 00
1,474,050 00
1,050,810 26
$2,670,510 26
Clearings by Telegraph.— Sales of Stocks, Bonds, &c—
The subjoined table, covering clearings for the current week*
usually appears on the first page of the Chronicle, but on ac*
oount of the length of the other tables is crowded out once a
month. The figures are received by telegraph from the leading cities. It will be observed that as compared with the
corresponding week of 1908 there is an increase in the
aggregate of 0*4 per cent. So far as the individual cities are
concerned, New York exhibits a loss of 12-0 per cent and
Boston 0'2 per cent. Philadelphia reoords a gain of 40*4 per
cent, Chicago 8"4 per cent, Baltimore 81*8 per cent, St. Louis
12*8 per cent and New Orleans 63 9 per cent.
.
.
.
Apr.
THE CHRONICLE.
9, 1904.J
Clearings— Returns by Telegraph.
Week Ending April 9.
1904.
New York
Boston
09,rt05,S35
10,657,515
145.166.300
44,8S8.3«6
14,244,3.1
Chicago
St.
Lou
New
-
I
Orleans
Seven cities, 5 days.
Other cities, 5 days
Total
Total
1
255.967,649
5 days
$1,617,006,234
326,91, 621
all cities
$1,973,953,855
M
$1,736,907,5«6
229,581,353
$1, 986,458.800
day
4 48-4
+0-4
|
Our usual monthly detailed statement of transactions on
the various New York Exchanges is appended. The results
for the three months of 1904 and 1908 are given below.
Three Months. 1803
Three Months, 1004.
Par Value
Actual
or Quantity
Value.
OutrtpUen.
8
^',*;
Par Value
32 400 839
$89-5r>9t557S
$300«."?40,H76
&B. bonds..
Total.... $3170,019,376 $1054182.615
220.634,450 207,333,000
Grain, bash.
Total value.
Aver'tt
Price
Value.
42.018,645 3.172,154,677
$1820959,806 eo*5
$162,659 500 $132,533,974 81-5
$276,300
$298,512 1080
<*OT't bonds
$36,717 19-0
$188,000
State bonds
$354,626 220-1
$154,800
Bankitooks
Stookl
Actual
Aver'oe
Price. or Quantity
706
$182 915 600 $170.6^5,3^3 93 8
$389,000
$444,486 114-3
$88,192 3V2
$*56.C53 3021
$250,4
$84 050
61-7
01c.
$4160255070 8.343,599,411 80-2
1*0,093 760
fc6 071,17? 71fcC.
$3161515.665
3,420,670,580
The volume of transactions in share properties on the New
York Stock Exchange each month since January 1 in 1904
and 1903 is indicated in the following:
SALBB OF STOCKS AT MEW YORK STOCK EXCHANGK.
1004.
mtnth.
Jan ...
Feb ...
March
1903.
Values.
Number
of Shares.
Par.
Actual.
$
12.368,624 1,169,681.075
703,170,050
8.767.269
11.440.066 1.053,078,030
Values.
Number
of Shares.
Par.
lstqr. 32 400.819 8.006,740.875 1,820.959,806 12.018.616 1.085.608.576 3.172,154,677
The following compilation covers the clearings by months
since January 1
MONTHLY OLE A RINGS.
Clearing. Total All.
Clearings Outside
1004.
$
January.
1008.
$
P.Cl.
February
0,436.474 004 11,088.082,021
7,718,889.78S 8.468.707.464
Mareh
8,383,108,301
..
1004.
-no
3.284.084 786
0,588,278.076 -18-6 3,679,103.317
1st qaar.. 85,633,470 099 29,130,987,561
York.
P. Ox
$
3,002.861,668
3,227.496,463
-8 9
—121
New
1003.
$
3,744.047,885
—4-0
+1-8
3,678,067,741 +0-C3
10.608,185,988, 10,708,425.752
-o-i
The course of bank clearings at leading cities of the country
for the month of March and since January in each of the
last four years is shown in the subjoined statement.
BANK CLRABING8 AT LEADING
March.
(000,000*
1904.
1903.
1902.
omitted.)
$
4,804
6,004
5,507
754
734
557
455
216
166
116
86
93
78
56
62
Hew York...
Chicago
Boston
Philadelphia
Bt.Lonls
Pittsburgh..
BanFran'co.
Cincinnati...
Baltimore...
Kansas
City.
Cleveland...
Hew Orleans
Minneapolis.
Louisville...
Detroit
Milwaukee..
Providence..
Omaha
Buffalo
St.
Paul
Indianapolis
Denver
.....
Richmond
.
Memphis....
Seattle
Hartford
8. Lake City
765
514
449
241
160
126
97
98
93
56
96
62
45
41
34
28
35
26
26
24
18
19
24
18
13
11
5Stt
474
203
217
129
96
98
PO
70
62
55
46
42
31
29
35
24
26
24
18
16
16
17.
11
12
OITIEf.
Jan. 1
to
41
40
28
28
32
22
23
21
20
18
15
13
12
15
to
28
22
19
15
20
19
13
10
11
10
709
462
362
287
262
276
169
336
184
136
119
103
90
97
75
71
77
53
61
78
49
34
37
603
594
373
292
290
244
201
202
163
141
125
96
92
96
76
75
73
51
50
53
47
35
36
31.
640
512
310
255
287
242
167
179
512
495
264
246
292
8,383
3.579
9,582 8,883
8.578 3.376
chief event of the
And
probably the
city's
opinion will again
The truth is that the borrowings of the Imperial Government, the colonies and the municipalities have been on so
very large a scale during the past few years that the great
financial houses are [apprehensive that the throwing of much
more stock of the kind upon the market would send down
And
prices so seriously as would again derange markets.
apprehensions of the city are increased because in addithe
tion to the operations referred to above, it is ktiown that
every great issuing house has entered into so many arrangements for the future that there will be immense issues as
soon as the market becomes favorable. In all probability
the wishes of the city will prevail, and the stocks of both the
Port of London and of the new water- works authority will be
handed over to existing security holders.
There are also large loans impending in Paris. In the
middle of April there will be 270 million francs, or nearly
11 millions sterling, borrowed by the City of Paris, and a
little later, it is understood, that the Department of the
Seine will borrow 8 millions sterling. Shortly afterwards it
is believed that several other departments will borrow. And
it is certain that Russia will have to borrow on a very great
scale sooner or later.
Upon the Stock Exchange there has been very little doing
during the week, and the Paris Bourse is, if possible, more
stagnant than the London Stock Exchange. There is a simi-
155
122
141
83
89
89
121
115
116
77
87
80
68
59
70
66
62
58
54
48
87
36
42
want
business in Berlin. The war is principally accountable for the existing stagnation. Everybody is waiting
lar
of
what
199
to see
verses on land.
46
58
50
42
28
33
35
9,995 25,533 29,110 27,901 29,056
8.108 10.608 10 709 10.116 9.144
IFrom oar own correspondent.]
The
concern.
prevail.
160
166
Total
7,923 9,125 8,494 9,668 24,157 27,779 26,724 28.053
Other ol ties.,
460
457
327 1.376 1,361 1,177 i,O03
389
Total all...
Outside N. Y.
A
I
March
1901. 1904. 1908. 1S02. 1901.
*
$
*
$
$
6,887 14,925 18.432 17,785 19,912
619 2,164 2,143 2,089 1,751
614 1,594 1,739 1,737 1,779
413 1,347 1,457 1,374 1,263
174
176
94
79
104
65
53
56
39
88
38
24
28
is practically the same while the rate of interest
per cent more, the investment is clearly more attractive
\i
ihan Consols. But for many purposes Consols will continue
to be the premier security.
large number of other issnes are coming out as soon as
tbe market is in a favorable condition. All the London docks
are about to be bought up under a bill which is being carried
through Parliament at present. This bill proposes to pay
the dock shareholders in cash. And on Tuesday last, a highly
influential deputation of some of the most important personages in the city waited on the President of the Board of
Trade to urge upon him to amend the bill so that tbe shareholders should be paid in stock instead of in cash. The
deputation was headed by Lord Rothschild. It is almost
certain that so powerful a deputation from the city will
induce Parliament to agree with what is suggested. All the
London water- works are likewise to be bought up. It is not
yet known whether any cash will be paid. The desire of the
city unquestionably is that the shareholders in the old waterworks companies should be required to accept stock of the
the security
is
new
Actual.
$
$
$
666,048,026 16,001.822 1.615,264.960 1,204,668,210
600.002.41t- 10,028.017 1.046,t47,826
836,098.764
651.003,46) 16,095,30*) 1,424,484,400 1,138,487,694
Month.
issue was completely successful. The applications were for
about ten and a half times the amount offered, and there
was great eagerness to secure allotments. The total amount
offered was five millions sterling, the rate of interest being
+ 8-4
per cent and the loan being guaranteed by the British
+12-8 2
-t-639
Government. There will be no redemption for 30 years, but
-51 after that time the Government can redeem as it pleases by
-5-8
giving six months' notioe. The price of issue was 87. As
—6-1
$1,461,499,935
270,407,611
for week.
all cities,
All cities,
$l,391,01-,r)-5
Oem
—12-0
—0-3
+40-4
+31-8
$1,046,011,417
111.154,749
70,W62,H8l
14.915.595
183,000,682
39,791.020
8,6v3,54l
110,912,292
Philadelphia
Baltimore
P.
1903.
$956,*5i,3.>6
1371
London, Saturday, March 26, 1904.
week in London has been the bring-
ing out of the first instalment of tbe loans that will have to
be raised for the purchase of Irish land by the tenants. The
will
happen in Paris if Russia suffers severe reMoreover there are rumors which it is not
easy to verify that Russia
is
feeling the pulse of the Paris
market with a view to a large
loan.
The general absence
of
business has been increased by the outbreak of plague at
Johannesburg. Everything is being done by the authorities
to
stamp out the plague, but for the time beiogit has created
it and refuse
a fear that Chinese laborers will be alarmed by
to hire themselves for the Transvaal.
The money market continues easy and fairly well supplied.
Even the issue of Irish land stock did not much disturb it, so
complete is the absence of all speculation and so quiet is
trade.
Moreover, the Government has been paying off sinoe
Christmas large amounts of debt which it borrowed in the
first nine months of the financial year.
Consequently the
disbursements out of the Treasury so nearly counterbalance
the receipts from the collection of the taxes that the market is
very much less disturbed than at this season for many years
past. There is mnch difference in opinion in the city as to
whether the market will become easy after Easter. That it
will be easy for a few weeks everybody recognizes, because
the collection of the revenue will hive then ceased and there
will be large payments out of the Exchequer. But it is
doubted whether the ease will lsst long because of the large
:
.
1
'
:
THE CHRONICLE.
1372
which are certain. Moreover, if
the plagtie hecomes worse in Johannesburg it may make the
enlistment of Chinese labor more difficult than was thought
probable before, and thus may put off a large increase in tbe
gold supplies.
On the other hand, the inquiry for gold is not great. There
has been a demand for Paris during the past week or two,
but that was in connection with the preparations for the
coming City of Paris loan, and it is not expected to continue.
Moreover, gold is beginniug to return from Egypt. The gold
required by Buenos Ayres is going partly from New York
and partly from Australia and South Africa, while exchange
has risen to such a point that it is possible that gold may
issues referred to above,
come from New York.
these reasons, some very
careful observers anticipate a continuance of cheap money.
Other equally good observers, however, oontend that, because of the fact that the new issues will be so large and also
because of the fear that
will withdraw large
tained.
For
all
rates fall much the French banks
of money, rates will he well main-
if
sums
|
Vol. lxxviii.
fne following shows the imports of cereal produce into
the United Kingdom during the twenty-nine weeks of the
season compared with previous seasons:
IMPORTS.
1901-2.
1903-4
1803-3.
1900-01.
tmp'ts Of Wheat OWt.49,644,061 44,952,477 34,919,800 38,108,100
i*r
..
21,656,968 18,263,633 15,953,100 14.169,800
3at«
9,470,198
8,582,190 10,239,900 12,413,900
Peas
1,398,609
1,182,047
1,205,100
1,619,300
Beans
1,135,506
1,075,800
1,017,240
.. 1.485,268
Indian corn
29,470,297 21,866,174 26,520,000 32,222,100
•lour
^..13,235,824 10,783,182 12,167,500 12,527,400
•
Supplies available for consumption (exolusive of stock
on September 1):
1902-3.
1903-4.
1901-2.
1900-1.
Wheatlmported.CWt.49,644,061 44.952,477 34.919,800 38.108,100
imports Of flour
18,235,824 10,783,152 12,167,500 12,527,400
lalesofhome-grown.11,593,963 15,001,911 17,087,617 15,581,287
Total
74,473,848 70,737,540 64,174.917
27s. Id.
*.ver.prloewheat,week.2b6. 6d.
26a. Id.
66,216,787
25s. 9
Average price, season. 37b. 2d.
27s.
6d.
25s.
26e.
.
9d.
3d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
Thitwcck. Last wee*.
Wheat
3,505,000 3,335,000
205,000
205,000
qrs...
flour, equal to are.
>
1901-2.
3.840,000
1902-3.
2,180,000
230,000
245,000
The India Council offered for tender on Wednesday 60 laos tfalse
605.000
380,000
670,000
0.'«...
680,000
of its drafts and the applications largely exceeded 887 lacs,
The British imports since Jan. 1 have been as follows
at prices ranging from Is. 3 31-32d. to Is. 4 l-16d. per rupee.
1903.
1904.
Difference.
Applicants for bills at Is. 4 l-32d. and for telegraphic transPer Ot.
£
£
£
Imports.
—232,652
-0 5
46,226,515
January
45,998,863
fers at Is. 4 l-16d. per rupee were allotted about 75 per cent
+8'7
40,560,585
+3,549,934
February
44.110,519
of the amounts applied for.
The following return shows the position of the Bank of
+3*9
86,787,100
+3,455,939
Two months.... 90,243,039
England, the Bank rate of disoount, the price of consols, Ac.
The exports since Jan. 1 have been as follows
compared with the last three years:
:
:
1904.
1903.
1901
Mcli. 25.
1902.
Mch. 26.
Mch. 27.
4
«
*
29.754,470
J7.123.08l
42.b71.618
16.274,886
38,207,323
84,128,808
36.102,773
40 1-16
29.219,995
1904.
Mch. 23
*
Olreillatlon
87,682 535
88.648.265
PabllO deposit!
15,808,450
ia,406,bl0
Other deposit!
Sb,4o7.184
41.161.440
SOTernment secnrltlei
19.224,884
14,668,318
Other teonrltlei
S6.S68.158
84,099,624
fteierreof notes and eoln
27.809.l0u
26,560,213
OolnAbnillon. both departre'ts 36.792,798
87.682,366
Prop, regerre to liabilities. p.o
i'Jhi
47 6-16
lank rate.
4
peroem.
4
Consols, a|f percent
8515-16
90 7-16
8 iTer
227-16d.
2Wrf<J
Cliarinz-Hoaserotnrn
173,016,000 165,110,000
39,266.683
12.228,483
84.467,447
24,742,^70
86,lb7,86&
**H
8
4
S5«
94 3-18
24 18-160.
zlhii.
151.c0s.00q
I90,43t).ooo
Open Market Batet
<3
Ltnaon.
Bank
i
Feb. 26
Monthi.
3 4
11 4
18 4
26 4
Shi&S 5-16
Shi
3 1-16®8H>
8
2 6-16
2%@2
'Iraie Billt,
Billt.
Month*. 6 Monthe.
4
SH
i
March
"
"
3
3
Shi®3hi
l-16®3«.!i
8®3
1-16
3®Shi
S&Shi
S
15-16
Intereet allow**'
for depoiite b*
1
2&>®3
2 15-16@3
3
Mot.
Shi
Shi
Shi®Shi
3hi®Shi
Shi
Joint Uie'tH't
Stock
/-is
shi@m
8H@3J<
2H
Shi
3*
Shi
2K
Shi
Intereet at
28.
Bank
Open
Bate.
Afarkr.i
March 19
Bank
m
SH
4
4
SH
4
m
2«
Shi
3
8
Shi
Petersburg.
Madrid
nom.
St.
Copenhagen.
4k
Messrs. Pixley
March
8k
ihi
4
..
<fe
Bank
12.
Open
3
4
4
2«
8k
8k
4
ihi
4
Sk
2H
8k
3
8
3k
5k
4k
tk
2%
m
S%
4
8%
2%
2«
2H
3
3
3k
nora.
Shi
Sk
4
ihi
Bank
6.
Open
nom.
8k
ihi
4
2%
8k
SH
3
4
4
4
8k
Shi
3
8
2H
3k
5k
3
nom.
3k
ihi
4k
4
Abell write as follows under date of
Gold- Paris orders have absorbed all the gold arrivals of the week,
and the Bank has therefore reoelved only £112,000 In sovereigns, of
which £100,000 la from Ejjypt. £161.000 has been withdrawn, of
whloh £131,000 has gone to South Amerloa. Arrival?: Australia,
£267,000; Bombay, £80,000; Cape. £154,000; Wrst Indies, £31 ,000;
total. £532,000.
Shipment*: Bombay, £80,500; Madras, £6.500;
Calcutta, £2,900; total, £89,900.
Silver— The marhet generally has been quiet, India having given
little support.
With small amounts offering tlie quotation hardened
at the end of last week to 26 14d., but during the last few days the
martiet has given way, and we touched 25%d. for oash yesterday.
To-day, on a few small speoial orders, the quotation is ijed. higher.
Forward is now quoted 3 ied. under oash. The Indian rate la Kb. 66
per 100 tolahs. Arrivals: New York, £164,000; Australia, £4,000;
West Indies, £4,000; total, £172,000. Shipments; Bombay, £43.800;
Madras, £5,000; total, £48,800.
Mexloan Dollars— In the absence of sellers the quotation has Improved to 6 16 d. under oash silver.
The quotations for bullion are reported as follows:
Mar.
Mch.
BILVHB.
24.
17.
London Standard
Mch.
17.
a.
d t. d.
d.
Bar gold, fine. ...ob 77 9Bg 77 9% Bar silver, fine... oi.
26%
Do 2 mo. delivery
TJ. H. gold ooln...oz 76
4»i 76 4
25?9
Germ'n gold ooln.oi *76 5% *76 5% Bar silver, oontaln'g
Frenoh gold ooln.os *76 5 *76 5
do 5 grs.gold.oi. 266, « 2608
Japanese yen....os *76 4% *76 4
dO 4grB.K0ld.0» 26% 267 )8
do 3 grs.gold.oi. 2M6, 6 26k
"Nominal.
Oake silver...
oz. 27is, 283,„
Mexloan dollars. .os. 25% ^58g
fl
£
Per
Ot.
-355,718
—58
+1,267,013
+20-8
months.... 13.117,341
12,206,046
+911,295
+74
English Financial Markets— Per Cable.
1 he daily closing quotatloni for securities, etc., at London
are reported by cable as follows for the week ending Apr. 8:
Sat.
per ounce..... d.
Mon.
,
Y. Ontario A West'r
Vorfolk A Western
Do
do
pref
Northern Securities
IT.
W
H
GO
4
W
H
00
4
w
1
1
1
>*
<
Q
<—
<
Q
m
J
O
120
149%
72
26'8
1-1
o
w
Pennsylvania
A Read
*Fhlla.ARead.,lBtpref
>Phila. &> Kead.,2d pref
Southern Pacific
louth'n Railway, com..
72%
27%
34%
17%
23
6678
658s
42%
41k
97
84
93%
119%
34%
17%
149%
23%
73%
27%
66%
134%
134%
43
134
111
10
112
112%
10%
18%
39%
38%
18*4
41
10%
18%
40%
39
39
121%
121%
00%
226a
225„
613a
91
22
60
92
92
92%
100%
100%
100%
60%
K
39
121
101%
6OB4
61
61
2278
23%
40%
80%
40%
30%
52 »8
23
523a
87
96%
62'8
20
120
223g
59%
40%
30%
51%
23
86%
40%
S0%
com.
11%
86%
90%
96%
11%
pref..
603a
610b
Preferred..... .........
9038
Union Pacific
Preferred
....
0. 8. Bteel Corp.,
96
—~
Wabash
*
4
76%
143%
21%
03
97-9211
75%
95%
83%
92%
8
82
W
251,6
8616,6
87i, 6
4
11838
333i
17
05
Fri.
226s
1st preferred........
IT. T. Cent'l A Hudson.
Do
Do
9750
81%
trie, common
1st preferred
2d preferred.... ......
Illinois Central
Louisville A Nashville
Mexloan Central
Mo. Kan. A Tex., com.
Preferred
National RR. of Mex.—
87
94
Baltimore A Ohio .....
Preferred
Canadian Pacific.—..
Chesapeake & Ohio...
Ohloa. Great Western.
Ohio. Mil. A St. Paul..
Den. A Bio Or., com...
do Preferred
Do
do
8613 16
86%
73
Thurt.
25ii 6
96'82is
3»s
Itch. Top. A Santa Fe..
Preferred..
Do
Wed.
8ee, a
Anaconda Mining
•Phila.
Tuts.
25k
257^
For account
March
Difference.
6,067,718
6,138,328
»r'chrentes(lnPari8)fr. 96-82%
3*
+4-9
£
Consols., new, 2i* p.ets.
Zhi
-33
+1,119,377
5,712,000
7,405,341
Silver,
2k
2H
an
Pcv Gt
—820.271
1903.
£
294
34, 1904
HOLD.
London Standard
1904.
Re-exports.
January
February
liOHDOH.
Zhi
Bate. Market Bate. Market Bate, Markt
4
8
Open
March
23,894,813
£
24,903,636
22,775,436
+299,106
+06
Two months.... 47,978,178
47,679,072
Toe re-exports of foreign and colonial produce since Jan, 1
show the following contrast
Mot. Bankt Call
1
The Bank rate of disoount and open market rates at the
chief Continental cities have been as follows:
March
February
Difference.
£
January..."........ 24,083,365
Two
The rates for money have been as follows:
0
£
Fxporta
18,576,tt88
1903.
preferred..
19%
....
38
3!)%
62%
63%
Deb."B"
20
2334
91<«b
11 78
39%
63%
233s
51'8
230a
88%
90%
96
H 78
63%
20
39%
64
Price per share.
Gfrommcrciitl and ItlisccUancons^cnrs
National Banks. — The following information regarding
is from the Treasury Department.
national banks
NATIONAL BANKS ORGANIZED.
Certificates Issued March 2S to April 2, 1904.
7,186— The State National Bank of Albuquerque, New Mexloo. Capital, $100,000.
O. N. Marron, President; D. A. Maopherson,
Vioe-Presldent; J. B. Herndon, Cashier; Roy MoDonald,
Assistant Cashier.
7,187— The First National Bank of New Holland, Ohio. Capital, $25,000. A. L. Hyde. President; M. 8. Bartholomew, Vioe-Presldent;
Seymour Thomas,
Cashier.
j
)
Apr.
9.
.
,
THE CHRONICLE.
1904.
7,188—The First National Bank of Dunn, North Carolina. Capital,
Cashier.
$25,000 Will H. McDonald. President;
7,189— The First National Bank of Bloux Rapids, Iowa. Capital $50,000. J P. Farmer, President; Thos. M. Murdoch, Cashier.
7,190— The First National Bank of Madison. Florida. Capital, $50,000. M. C. Drew, President; I* A. Fralelgh, Vice- President;
0. 8.
Bond* on Deposit
March 31 ,1904.
,
Conversion of the Bank of Madison.
T. O. 8mlth. Cashier.
7,191— The First National Bank of Pennsboro.West Virginia. Capital,
$25,000. Creel Collins, President; Rlohard Wanleas and L
P. Wilson, Vioe-Presldente; E. M. Carver, Cashier.
7,192—The First National Bank of Meade, Kansas. Capital. $25,000.
John B. Buck. President; Geo. 8. Selvldge, Vice-President;
Frank W Curl, Cashier.
7,193— The Swarthmore National Bank. Swarthmore. Pennsylvania.
Capital, »50,O0O. A.. H. Tomllnson, President; David L.
Lukens, Vlo«-Presldent; Isaao Roberts, Cashier.
7,194— The Morris County National Bank of Naples, Texas. Capital,
$35,000. J. H. Mathews, President; J. C. Martin, Vloe-Presldent; D. A. Cook, Cashier; W. W. Roblson, Assistant Cashier.
Bond* Held March
Public Depositt
Bank
Oirculation.
5 p. ots., 1894, dne 1904
4 per ots., funded 1907..
4 p. ots.,
9100,000
6,604,050
11,025,050
7,095,040
100,945,500
2,009,000
22,639,126
4,948,000
1,081,000
17.549.000
1,657,000
1895, due 1925
dne 1908-18
3 p. ots.,'98,
2 p. ots.,
6,567— The Colonial National Bank of Pittsburgh, Pennsylvania, has
gone Into voluntary liquidation bv resolution of its stockholders dated January t>, to take effect March 23, 1904.
654—The Atlas National Bank of Boston, <a assaohusetts, has gone
into voluntary liquidation by resolution of its stockholders
dated Match 17, to take efleot April 4, 1904.
APPLICATIONS TO CONVERT INTO NATIONAL BANKS APPROVED.
Approved March 28
to April 1, 190^.
The Bank of Commerce of Linooln, Nebraska, into the National Bank
of iCommeroe of Lincoln. Capital, $100,000.
The Finley State Bank into The First National Bank of Flnley.
North Dakota Capital. $25,000.
The Judith Basin Bank of Lewistown, Montana, into The First National Bank of Lewistown. Capital, $100,000.
1900 due 1930
3-65s DlBt. Col., 1924...
«tate&Clty
Philippine Isl'd Certirs
Hawaiian Island bonds
Railroad bonds
Phlltpiune Loan
$175,652,768
Total
$2,704,250
1,540,100
1,799,400
391,990,900
The foregoing does not include the bonds held
Sub-Treasury against deposits in banks. Theie
were so held on Moh, 31 $9,255,000 bonds, making the whole
amount at that date in possession of the Government as
The following shows the amount of national bank notes
afloat and the amount of the legal-tender deposits March 1
and April 1, and their increase or decrease during the
month of March.
National Bank Notes— Total afloat—
Amount afloat March 1, 1904
Amount issued during March
Amount retired during March
Amount bank notes afloat Apr.
$430,324,310
$11,067,420
6,481,788
1, 1904.
banknotes March
Cent Payablt
$434,909,942
to redeem national
1904
1,
Amount on deposit
When
4,585,632
Legal Tender Notes—
Amount on deposit
banknotes April
Company.
in the
New York
,971,819
Amt. of bank notes redeemed in March....
DIVIDENDS.
of
$100,000
9,308,300
12,665,150
8,894,440
492,936,400
2,009,000
22,639,128
4,948,000
1,081,000
17,549,000
1,657,000
$398,034,650 $573,687,418
Amount deposited during March
Name
total Held
security for deposits $184,907,768.
LIQUIDATION.
Per
31, 1904, to Secure—
in Bank*.
7,195— The First Nati>nal Bank of Overbrook, Kansas.
Capital, $25,000. B. Hardlsty, President; E. J. Hllkey, Cashier. Conversion of the Farmers' State Bank.
7,196—The First National Bank of Halstad, Minnesota. Capital,;$25,000. H. Thorson, President; Joseph Lookey, Vloe-Presldent;
. Cashier.
7,197-The First National Bank of Mill Creek, Indian Territory.
Capital, $25,000. A. B. Donlap, President; J. M. Browning,
Cashier.
1373
Boole* Closed.
(Day* Inclusive.
The portion of
to
1,
$2,812,850
3,474,961
662,111
redeem national
1904.
$89,309,708
by banks becom-
legal tenders deposited (1)
by banks going into voluntary liquidation,
by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months.
ing insolvent, (2)
Katlmnda (Steam).
Atohison Topeka & Santa Fe, oom
Cumberland Valley (quar.)
Gulf <fe 8hip Island (quar.)
Keokuk & Des Moines, pref
Maine Central (quar.)
Rook Island, pref. (quar.)
Mtreet Railways.
Bmgliamton (N. T.) Ry
City & Suburban Ry. (Portland,
Linooln (Neb.) Traotlon, oom
Mllw. Eleo. Ry.
Mount Morris
& Light, pref.
1
14 May
Banks.
pref. (quar.)
do
do
Amer. 8teel Foundries, pref. (quar.)...
com
(quar.)
Consolidated Ice, Pittsb., pref. (quar.)
Harbison- Walker Refractories, pf.(qu.)
Mackay Companies, pref. (quar.)
Pennsylvania Steel ,]pref
2
2
14
\^
l
May
May
May
to
Apr 22
Apr 9
Apr
Apr
Apr
Apr
Apr
12
2
a
1G
12
Apr 1
Apr 15
May
2
May
to
to
Depositsby—
May 2
May 2
May 1
Apr 15
Apr 19
Apr
11
May'i
Apr 9
Apr 25
May 1
Holders of reo. Apr 20*
Apr 20
to
May 16
to
to
to
to
Transfer books close.
Jan.
Dee. 1.
$
$
Total
of,
and
in Deposited
show all the
Bonds, Etc.— We give below tables which
monthly changes in Bank Notes and in Bonds and Legal
Tenders on Deposit. The statement for March, 1903, will be
found in the Chronicle of April 18, 1903, page 844.
$
1.
$
Stock of Money in Country.—The following table
shows the general stock of money in the country, as well as
the holdings by the Treasury, and the amount in circulation
on the dates given. The statement for March 1, 1904, will be
found in the Chronicle of March 5, 1904, page 968.
>-StocliOt
Monty April 1.—
i-Montvin Circulation.-.
1904.
In the Cnited
+fl«Id in
April
lieasury.
April
1,
657,550,481
16,798,224
1C6.633.724
14,872,000
846,681,016
11,545,933
67.334
5,278.143
1904.
t
660,924.710
449,349,569
74.709,181
496.052.079
95.087,792
11,814.676
341.107,870
•Curr'cy cert.. Act June 8, '72
431.SC0.942
National bank notes
10,116.698
424,798.346
States.
%
$
Goldcoln(lnc.bul'nlnTreas.)l,S48,808,970 248,5,9,631
•Silver certificates
Subsidiary silver
in
$
April
1.
Total.... 38,088,495 37,889.395 39,199,896 39,971,819 39,309.708
•Act of June 20, 1874, and J uly 12, 1882.
'Gold certificates
Standard silver dollars
Bank Notes— Changes
Mch.
Feb. 1.
1.
nsolv'ntbks.
424.935
410,635
610,980
565,830
428,710
uiquld'g bks. 11,860,882 11,818,376 12,076,705 12,356,852 11,762,975
?ed'o'gund.*
act of 1874. 25,802,678 25,660,335 26,512,211 27,049,137 27,118,023
1
Holders of reo. Mar 31
Apr 16
Apr 20
to
Apr 22*
Apr 4
Apr 13
Apr 15
Legal Tend'*.
Apr 15
to
to
i
16
to
IB
8
to
19
11
to
20 Holders of rec.
a
Apr
Apr
Apr
Apr 9
May 2
Apr 15
May 2
Apr 9
Apr 25
1
8*9
5
16 Holders of reo.
to
18 Apr 12
2 Apr 21
to
16
Railway Equipment Corp'n (monthly) Ik
Rogers Locomotive Works, preL....... Ik
Standard Underground Cable (quar.)..
2
Streets West. Stable Car Line, com. (qu. 50o.
United Copper, pref
3
United Eleotrio (Securities, pref
$3 50
U. 8. Steel Corporation, pref. (guar.)..
l»4
*
Apr
34 Apr
4 May
1»« May
14 May
2
Apr 23 "to
1
11
(3)
*
Apr 24
Solders of reo. Mar 16
2 Apr 16
to
Apr 17
2
May
4
do
Claflln (H. B.).
Apr
Apr
24 Apr
2
2
J'ne 1
to
16
Apr
May
*
Produce Exchange, New York
Ulse»Uane«aa.
Amer. Car & Foundry, com. (qnar.)
1
May
Is
(quar.).
1
Apr
Apr
1
lh.
Ore.).
May 13
J'ne
2
2
and
Treasury notes of 1890
United States notes
1,
1903.
I
622.0C8.8fiS
862,921,999
71,476.840
461.5S7.653
92.285.445
21,420,172
344,271,682
372,785,854
Total
2,808,960.136 292.3J0.918 8,516.639,883 2.351.767,918
Population of the United States Apr. 1, 1904, estimated at 81,528,000; oircuatlon per capita, f DO 87.
For redemption of outstanding certificates an exact equivalent in amount
money is held In tbe Treasury, and is not Included
the aocount of money held as assets of the Government.
t This statement of monev held in tbe Treasury as assets of the Government does not include deposits of public money in national bank depositaries to the credit of the Treasurer of the United States, and amounting to
of the appropriate kinds of
Bonds and
In
Circulation Afloat Under
Legal Tender* on Deposit
1903-04 for Bank Circulation.
1154 288.210 14.
Bonds.
Mar.
31.,
Legal-
Bonds.
tenders.
Legalten itrs.
Total.
398,034,650 39,309,708 395,600.234 39,309,708 484,909,942
Feb. 29.. 392,671,550 39,971,819 390,352,401 39,971,819 430,324,310
Jan. 31.. 390,231,600 39,199,896 387,657,731 39,199,896 426,857,627
Deo. 81.. 889,335,680 37,889,395 387,273,623 37,889,395 425,163,018
Nov.
30..
Oct
31..
Sept
30..
Aug.
July
31..
June
30..
May
31..
31..
Apr. 30..
384,625,930
382.726,830
381,484,830
331,486,430
380,173,030
375,347,270
367,827,920
352.696,120
38,088,495
38,959,862
40,910,711
38,511,658
39,739,661
41,375,242
42,856,218
43,587,373
383,018,484
380,650,821
379,515,824
380,076,322
377,606,826
372,295,408
863,586,98
347,564,355
38,088,495
38,959,862
40,910,711
38,511,653
39,739,661
41,375,242
42,856.218
43,587,373
421,106,979
419,610.683
420,426,535
413,587,975
417,346.487
418,670,650
406,443,205
391,151,728
Auction Sales.—Among other securities the following
n.t regularly dealt in at the Board, were recently sold at
auction.
By Messrs. Adrian H. Muller
full explanation of the
Son:
Bond*.
Clinton Hall Associa'n.. 51
4 Nat. Bank of Commerce. 202 3»
20o Mechanics' Nat. Bmk...295
1
25 Home Insurance Co
320
10 St L. AHanFr. RR.,oom. 20
3 Imp. & Trad.' Nat. bk. 550-553
213 Joumeay & Burn'm Co. 45-50
'20 AdveD. Copper Co.$l 75 p. eh.
50 Col. Lond. <fc Springfield
Ry. Co., pref
$10 lot
ICO Col. Lond. & Springfield Ry. Co., pref
100 Cent'l Market St. Ry. $50 lot
.
above table see Chronicle
Dec. 14, 1901, page 1282, first item in Financial Situation.
The following shows the amount of each class of bonds
held against national bank oirculation and to secure public
moneys in national bank depositories on March 31.
For
&
Slocks.
50
Co., pref
j
Col. Lond. <k Springfield Ry. Co.. pref....
100 Cent'l Market
Co., pref
St.
Ry.
)
I
f
$100
lot
j
100 Oen.Mar. 8t. RyCo..pf $50
14 Trent'n Watoh Co., pf .$250
lot
lot
&E
Riv. Ferry
Co. 1st 5b. 1922,
904
E. Rtver Gas
$2,000 N. Y.
Co. let 5s, 1944, J&J
1125a
$V00 Montauk Club (B'klyn)
2a 5s; J&J. Jan., 1902,.
$2,000 N. Y.
&
oouponson
$50,000 U.
1st 5a.
8.
s. f.,
MAN
$20
lot
Shipbulld'g Co.
19;J2
264
$4,000 Texas Short Line Ry.
1st 5e, 1922, J&J
304
$1,000 Marine Construct. &
Dry D. Co. of N. Y. 2d 5h,
$10 lot
1922
$1,000 Steubenv. & Ind. RR.
ext.5s.Ser."A."1914.J&J.103
$2,000 Peoria Water Works
Co. 1st cons. 4 s, 1948.M&N
5358 and Int.
.
.
.
THE CHRONICLE.
1:374
New Kork
City Clearing House Hanks.— Statement of
condition for the week ending April 2, VMi, based on average of daily results.
We omit cwo ciphers (00) in all cases.
BANKS.
Loans.
Surplus.
Capital.
Legal*.
Specie.
\
Deposits
lies'
Bk. of N. Y.
Manhal. Co.
Merchants'
Mechanics'.
America
Phoenix
...
City
Chemic.il
..
Merch. Ks
Gallatin
.
....
But.ik Drov
Mecli.. 1 ra.
1
.
Greenwich
.
Leath.-MtiH.
Amer.Exch.
Commerce..
Mercantile
Chatham...
People's
...
N. America
Hanover
...
Irving
Citizens'
Nassau
..
....
Mar.dfc Fult.
Shoe&Lthr.
Corn Excli
Oriental
...
& Trart
Imp.
Park
East River
Fourth
Second
First
N.Y.Nt.Ex.
Bowery
...
N. Y. Co...
German Am
Chase
FUth Ave..
German Ex.
German ia ..
Lincoln
Garfield
Firth
Bk. of Met..
West
Side..
Seaboard
..
IstN.Eklyn
Liberty
N. Y.Pr.Ex
New
Amst.
Astor
Total
...
$
$
$
2,000,0
2,050,0
2,000,0
2.000,0
l,60o,o
l.ooo.o
25,000,0
300,0
600,0
1,000,0
300,0
5,000,0
25,000,0
3,000,0
422,7
450,0
200,0
2,000,0
3,000,0
1,000,0
2,550,0
500,0
1,000,0
1,000,0
2,000,0
750,0
1,500,0
3,000,0
250,0
3,000,0
300,0
10,000,0
1,000,0
260,0
200,0
750,0
1,000,0
100,0
200,0
200,0
200,0
500,0
300,0
2,:
L.889,0
2,7
8,662,4
334,7
17,403,0
7,537,0
360,1
2,207,1
110,0
346,8
637,7
514,2
3,964,7
11,358,8
4,416,3
608,5
700,0
600,0
600.0
300,0
1,000,0
250,0
1,000,0
2,482,1
1,069,7
396,0
2,066.5
6,404,3
1,029,8
610,0
313,4
1,234,2
357,6
3,291,3
1,042,0
6,679,2
6,950,6
136,7
2,980,0
1.378,1
13,830,0
888,4
775,9
657,3
613,3
3,895,0
1,745,3
665,5
882,7
1,302,5
1,242,9
377,3
1,470,7
539,2
1,410,9
579,6
1,922,4
502,1
542.6
566,8
1,000,0
1,000,0
500.0
350,0
$
$
18,306,0
20,228,0
13,799,2
13,400,0
21.307,0
3,804,0
162,720,0
24.073,3
6,407,5
7.97H.7
2,029,9
4,260,0
2,201,2
6,301,2
81,066,0
100,133,6
25,021,1
2,977,6
6,253,6
2,129,3
16.751,0
47,821,6
6,251,0
14,406,3
2,645,6
6,644,1
6,978,0
30.224.0
7,058,3
23,669,0
66,720,0
1,166,0
19,869,9
8,561,0
84,028,4
7,376,0
2,801,0
4,323,9
3.474,6
40,267,9
8,669,6
2,663,6
3,127,3
9,956,5
7,197,7
2,431,9
8,575,9
3.121,0
13,804,0
4,315,0
11,050,9
4,916,5
5,640,4
4,863,0
3,201,0 1,546,0 17,843,0 26-6
40b
9,181,0 2,22(1,0 28,1
3,022,1 1,347,5 16,168,7 26'9
2,387,0 1,611,0 13,930,0 28-7
4,616,0 2,058,2 23,680,4 27-7
850,0
205,0
3.660,0 29-6
38.285,3 7,896,8 166,066,1 27-8
6,902,7 1,722,4 24,31-1,0 313
936,1
647,9
6,824,3 264
951,4
481,9
5,688,9 26-2
693,3
25,9
2,271,2 27-2
606,5
450.0
4,480,0 226
2,101,5 434
606,7
407,6
2,696,2
361,9
6,996,2 42-2
3,627,0 1,867,0 23,002,0 23-2
151,958,0 26-5
30,277,0 10,052,0
4,628,4 1,179,4 22,101,4 262
440.1
410,6
3,696,1 23 6
844,2
6,359,0 264
835,3
204,4
457,7
2,568,7 25-7
2,165,1 1,698,4 15,684,7 24-0
11,465,1 4,211,3 58,790,1 26-6
430,9
959,6
5,677,0 249
3,268,3 1,538.4 17,383,8 27 6
325,6
313,5
3,129,9 20-4
651,9
1,574,0
6,929,8 30-6
174,7
8,317,9 25-2
1,922,2
6.227,0 2,933,0 36,857,0 24-8
408,6
7,134.4 25-6
1.421,7
3,947,0 1,239,0 20,878,0 24-8
16,610,0 4,043,0 75,745,0 27-2
180,2
184,3
1,277,1 28-5
3,341,3 2,796,6 22,465,8 27 3
1,114,0 1,447,0 10,112,0 26 3
25,025,0 2,040,0 82,262,2 32-9
488,1
1,261,4
6,652,2 263
257,0
380,0
3,164,0 20-1
476,8
963,8
5,690,3 25-1
222,7
647,1
3,370,6 26-8
11,599,7 1,666,6 48,555,1 27-3
262,5
2,130,6
9,326,3 266
688,0
170,0
3,172,3 27-0
422,6
628,9
4,913,9 21-3
636,3 2,000,9 10,179,2 24-8
286,1
1,620,2
7,222,8 26-3
507,9
139,7
2,682,9 24-1
770,6
9,896,4 23-8
1,586,7
302,0
668,0
3,979,0 24-3
2,491,0 1,639,0 16,021,0 25-7
566,0
696,0
4,613,0 27 3
2,177,9
240,0
9,744,1 24-8
926,6
328,2
5,130,4 24-4
801,9
667,7
6,393,3 229
940,0
300,0
4,887,0 26 3
115,572,7 132,366,2 10227071 223,390,1 71,707,3 10693694
276
t
t
Total United States deposits included $56,107,400.
—
The following is the
statement of condition of the non-member banks for the
week ending Apr. 2, 1904, based on average of daily results.
We omit two ciphers (00) in all cases.
Reports of Non-Meinber Banks.
New York
City, Boston and Philadelphia Banks.— Below
of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
a
is
summary
We omit
Capital inBANKS Surplus.
ciphers (00) in all these figures.
tv:o
Loans.
Capi-
Sur-
008 omitted.
tal.
plus.
Loans
<£•
Invest-
Specie.
ments.
&Bank
Hotes.
Clear'g
Other Deposits
A gent. Bks.&c
52,635,4 173,329,0
52,035,4 173,982,0
52,035,4 174,499,0
16,8-16,0
17,180,0
10,441,0
..
14th Street.
Gansevoort.
Hamilton
..
Mt. Morris
Mutual
19th Ward
Plaza
Riverside
.
i
State
12th Ward
.
Ward
..
Yorkvillo
..
23d
Fidelity
Varick
Jefferson
..
$
100,0
300,0
100,0
200,0
200,0
250,0
200,0
200,0
100,0
100,0
100,0
200,0
100,0
100,0
200,0
100,0
400,0
100,0
100,0
Century ...
Wash. Hgts
United Nat. 1,000,0
226,9
266,0
112,0
78,0
120,2
118,9
178,3
204,0
248,2
102,7
571,8
103,1
93,6
271,4
119,1
64,4
271,2
58,7
129,7
112,9
$
2,140,5
3,251.0
1,727,5
1,789,0
2,775,8
2,387,0
2,674,7
1,3?3,8
3,030,0
1,072,1
7,234,0
1,526,0
1,283,9
1,879,9
711,3
072,1
2,009,5
634,6
610,7
2,033,9
$
62,8
162,0
89,3
16,7
151,3
122,3
27.3
23,2
159,0
16,6
397,0
47,0
49,4
32,2
10,2
3,6
9,2
18,6
10,1
233,8
$
165,4
103,0
83,4
102,6
83,6
106,1
204,9
127,7
141,0
79,0
233,0
186,0
134,1
160,6
42,4
64,8
$
361,0
366,0
264,8
147.1
80,0
303,0
131,9
309,0
138,0
70,5
27,9
25,6
58,4
74,9
191,0
122,0
135,2
357,7
54,1
66,0
181,4
34,3
102,9
96,8
164,9
60,2
94,5
621,0
63,8
305,0
350,0
61,7
122,1
63,4
26,0
105,3
21,0
89,4
378,3
362,6
683,7
988,3
102,6
755,0
631,0
41,2
188,1
68,6
197,0
103.4
44,7
164,7
$
486,4
3,5
100,0
80,5
200,0
54,8
83,4
338,8
164,3
723,0
14,0
137,7
1,8
34,0
10,4
74,8
$
2,839,6
3,438,0
2,095,9
1,966,0
3,052,6
3,039,2
2,633,4
1,846,7
3,117,0
1,203,8
8,377,0
1,942,0
1,638,4
2,126,3
086,6
710,0
1,873,4
643,1
622,1
1,301,6
Borough of
Brooklyn.
Broadway
Brooklyn
.
..
Mfrs.'Nat..
Mechanics'
Merchants'.
Nassau Nat
Nat. citv
North
17th
..
side.
Ward
.
SpraRueNat
Union
Wallabout
Borough
Borough
.
...
150,0
300,0
252,0
500,0
100,0
300,0
300,0
100,0
loo.o
100,0
200,0
200,0
100,0
200,0
326,7
156,6
620,8
376,9
68,9
730,1
676,6
171,4
177,0
83,2
262,1
110,7
76,7
85,9
2,047.6
1,468,0
3,004,9
6,024,0
994,2
4.H4H.0
3,319,0
971,8
1,215,7
606,1
1,131.0
1,161,6
744,4
1,648,7
15,8
93,2
321,2
197,3
12,6
176,0
135,0
10,8
36,1
10,2
97,0
62,6
40,5
20,2
26,3
50,7
60,0
10,0
19,0
216,0
263,0
100,7
69,5
30,0
381,6
67,9
62,6
2.251,7
1,699,9
3,681,8
7,043,5
1,000,4
6,008,0
3,996,0
1,086,2
1,449,8
643,7
1,134,0
1,496,6
731,0
1.665,2
48,167,1 189,314,0
48,107,1 189,933,0
48,167,1 190,519,0
726,7
46,3
400,0 1,043,6
3,864,1
194,1
2 50,0
651,1
83,8
260,0
200,0
292,7
285,8
2,021,5
1,111,2
1,107,8
110,0
527,1
140.2
2,221,8
107,6
10,0
190,9
247,8 1,598,7
National
Second Nat.
Third Nat..
.
983,3
61,517,0
60,0311,0
69,2
65,0
137,8
05,0
2,113,0
1,175.2
1,768,3
160,0
42,6
35,6
36,5
184,7
03.2
244,4
4,9
Tot.
Tot.
Tot.
l.i
,8
Apr 2 8,487,0 102070 81,886,1
Mar26 8,487.0 102070 Bl.417.3
Mario 8,487,0 L 02076
00,1
2,386,9
1,097.2
3,490,3 1.091,5 11790.'. 5,834,1 93,633,5
3,63 l.i 4.769,7
5,283,3 92,010,0
3, 198,1 4360,3 lo'.inr. 4,986,2 91,062,2
102,3.VJ.o
103,31 1,0
—
;
FOREIGN IMPORTS.
For week.
1903.
1904.
1902.
1901.
$2,374,075
8,914,699
$2,303,537
10,209,210
$2,149,332
7,676,957
$12,171,836
$12,512,747
$9,826,2s9
$36,016,363
124,244,940
TotaL
$2,305,291
9,866,545
$11,288,774
General Merchandise
$41,563,656
118,848.781
$36,314,932
$31,416,8S6
113,833,901
Since Jan. 1.
Dry Goods
General Merchandise
Total 13 weeks
10&739.352
$160,261,303 $160,412,437 $145,064,284 $145,250,787
The imports of dry goods for one week later will be
in our report of the dry goods trade.
The following
is
found
a statement of the exports (exclusive of
for the
from the port of New York to foreign ports
week ending April 4, and from January 1 to date.
specie)
EXPORTS FROM
NEW YORK FOR THE WEEK.
1904.
For the week.
Previously reported..
Total 13 weeks
1903.
1902.
1901.
$7,769,560
120,562,293
$8,216,549
130,849,147
$10,177,645
112,441,456
$7,637,641
129,173.102
$128,321,853 $139,065,696 $122,619,101 $136,810,743
Note. —As the figures of exports as reported by the New York Custom
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from time to time adjust
the totals by adding to or deducting from the amount "previously reported."
The following table shows the exports and imports of
specie at the port of New York for the week ending April 2
and since Jan. 1, 1904, and for the corresponding periods in
1903 and 1902.
EXPORTS AND IMPORTS OF SPECIE AT
NEW YORK
Exports.
Gold.
Week.
Imposts.
Since Jan.
1.
Week.
Since Jan.
$2,000
France
$10,000
1,171,054
23,120
1,500,500
2,000
$8,000
1,292
12,783
3.590
$2,699,274
2,402,945
14,203,738
$25,665
196,858
39,650
5,500
All other countries
Total 1904
Total 1903
Total 1902
Silver.
Great Britain
$15,500
11,200
12.000
West Indies
$4,348,i 33
2,878,981
882,402
$1,422
7,037
80,089
Mexico
South America
1.
$2,047,346
698,332
1,149,496
95,078
28,595
405,859
23,327
$911,750 $11,365,528
301,559
France
00,031)
125,734
27,969
$3,159
1,350,800
4,996
2,276
320
1.937
$911,750 $13,109,572
575,019
10,240,256
787,955
10.669,190
$5,756
4,383
25.180
$224,729
323,214
340,875
All nth«r ''Olintries
Total 1904
Total 1903
Total 1902
Of the above imports for the week in 1904, $6,500 were
American gold coin and $320 American silver coin. Of the
exports during the same time $15,500 were American gold
coin and $
were American silver coin.
Auction Sales.
—See page preceding.
gaultiti0
Spencer
and
gfitreticiaflL
&
Trask
Co.,
....
Bankers,
WILLIAM & PINE STREETS,
NEW YORK.
Special circular carefully describing
the property covered by an Electric
Illuminating Company First Mortgage
Gold Bond, paying the investor 5%.
5,721,1
662.4
826,6
753.S
HOBOKK.X.
First N'at...
Seoond Nat.
224,833,0 10,607,0
222,566,0 10,650,0
221,190,0 10,847,0
i
Imports and Exports for the Week. The following are
the imports at New York for the week ending for dry goods
Mar. 31 and for the week ending for general merchandise
April 1 also totals since beginning first week January.
771,3
68,3
12,9
72,0
Hudson Co
116,762,
115,116,101.2
;
Jersey Citv
First Nat...
7,134,0
7,132,0
7,248,0
90,770.4
58,936,0
Including for Boston and Philadelphia the item "due toother banks.''
and also Government deposits. For Boston these Government deposits
amounted on AprU 2 to $5,065,000 on Maroh 26 to $5,673,000.
Jtichmond.
100,0
4,922,0 190.703,0
6,016,0 197,031,0
4,873,0 197,324,0
t
o!
lstNat.,S.r.
$
I'liilo.
Marl9
Mar26
Apr 2
Mexico
South America
Man&Br'nx
Columbia
Clearings.
Boh.
Marl9
Mar26
Apr 2
West Indies
N. Y. CITY.
Boroughs o/
Colonial
Circulation.
964,162,7
1,111,170.0
Mar2t. 247, 93-, 9 10078637 217,727,1 71,908,9 10486685 30,936,( 1,141, 098,3
Apr 2 247,988,9 10227071 223,390,1 71,707,3 10093094 36,880,0 1,064,27s, 7
Net
Leg. T.
Deposits, t
N.Y.
S
$
$
9
Marl2 248,670,1 997,399,0 219,135,1 70,119,2 10372689 37,962,6
Marl9 247,938,9 998,918,8 217,289,6 1)9,324,4 10370137 36,913,8
Deposit with
BANKS.
Legale.
Specie.
ve.
P.O.
$
[Vol. lxxviil
INVESTMENT SECURITIES.
Stock Exchange.
Branch
state
Members N.
Office, 65
Y.
Moffat
&
St.,
Albany.
White,
members New York Stock Exchange,
1 NASSAU STREET, COKNEK WALL,
Dealers In Investment Securities.
Tel. 582C-5S21 Cortlandt.
Telephone Stocks a Specialty.
.
Apr.
9,
THE CHRONICLE.
19U4.J
For Dividend! tee page
1373.
WALL, STREET, FRIDAY, APRIL. 8. 1904.-5 P. 1U.
The Money Market and Financial Situation.—The security markets were somewhat disturbed on Monday by the
announcement that an action at law had been begun to determine what are stockholders' rights in the liquidation of
the Northern Securities Company. But this disturbance was
of short duration, and since Monday each succeeding day
strength
has been
added and
1375
—
<§a«ttje.
|P<mli£rs'
new
,
hopefulness
stimu-
State and Railroad Bonds. Sales of State bonds at the
Board are limited to $10,000 Virginia 6s deferred trust receipts at 7%.
The market for railway bonds is more active than at any
time since the week ending Jan. 23d, and now, as then, the
increased volume of business is due to an exceptionally
heavy moveajent of United States Steel and Rock Island
Railroad issues. The transactions on Thursday amounted
to about $4,600,000 par value, when U. S. Steel 5s sold up to
7&%, an advance of x4 points. The Rock Island issues at
the same time showed a gain of 2 to 2% points. There has
been a slight reaction in some cases to-day from the highest
quotation yesterday. Other strong features have been Union
Pacific convertible 4s, Oregon Short Line participating 4s,
St. Louis Southwestern consol. 4s and Missouri Kansas &
Texas extension 5s. In addition to the above, the active list
includes Northern Pacific, Atchison, Baltimore & Ohio and
Consolidated Tobacco issues.
'S
lated in the general outlook for the future, until to-day,
when the advance movement was checked and a reacMost prominent among
tion occurred in many cases
the favorable influences contributing to such results has
been the quarterly report of the United States Steel Corporation, which showed not only much better earnings than
United States Bonds.— Sales of Government bonds at the
had been expected but also better prospects for future busiIn addition to this there have been several reports of Board include $3,500 3s, coup., 1908-18, at 107 to 107^, and
ness.
railway earnings, notably those of the Union Pacific and $1,500 2s, reg., 1930, at 106. The following are the daily clossome of the Southwestern lines, that are decidedly encour- ing quotations; for yearly range see thira page following:
aging. Moreover, recent rains in the winter-wheat belt reInterest Apr.
Apr. Apr. Apr. Apr. Apr.
move a cause for apprehension as to the growing crop of
Periods
6
4
i
7
a
that cereal; and a virtual collapse of the builders' trades
•105 1* •106*8 * 105*4 •106*4 •106 ?9
registered Q— Jan 106
2s, 1930
union strike puts at rest another disturbing factor in the 2s, 1930
coupon Q— Jan *105»» *105*» •106*% *106»4 • 106*4 *106 7s
local situation.
2s, 1930,sma-l.reglstered
coupon
An export movement of gold that has been impending for 2s, 1930, small registered Q— Feb *'x'6c>K *106»4 *io6»i •iotrtl * 105*4 •ibe"
some time past has actually begun this week, about $3,000,- 8s, 1918
coupon Q—Feb •107 "107
107
107 >« *107 -107
3s, 1918
000 having been engaged for shipment abroad. This, how- 8s, 1918, smaU.reglstered Q— Feb ...... mmmmm ...... ......
coupon
Feb •1051. *105»«
*106>i
ever, is a matter of no significance in view of the large 8s, 1918, small registered Q—Jan *107>4 *107*4 •loe^ •107"* •105S •105H
•107** *!07»«
-107 \
Q—
4s, 1907
amount of gold that has been received at San Francisco 4s, 1907
ooupon Q—Jan *107>4 •107 \ *107>* *107>* •107 "4 *107*a
*18234 •132*« •182*4 •132*4
registered Q— Feb •132*4 •132*4
4s, 1926
from Japan and elsewhere since the beginning of the year*
ooupon Q— Feb *133 •133 *183 *133 *138 *133
The open market rates for oall loans on the Stock Exchange 4s, 1925
•This is the price bid at the morning board; no sale was mane.
during the week on stock and bond collaterals have ranged
from 1>£ to \% per cent. To-day's rates on oall were \% to
Railroad and Miscellaneous Stocks.—The stock market
\% per cent. Prime oommeroial paper quoted at 4@4% per has been active and generally strong in tone since the decent for endorsements and 4@4% p. c. for best single names.
pression on Monday referred to above. During the early
The Bank of England weekly statement on Thursday hours on Tuesday the market was irregular but became
showed a deorease in bullion of £599,477 and the percent- more settled and firmer before the close of the day. Since
age of reserve to liabilities was 44*12, against 42*15 last week, Tuesday the market not only continued strong but broadened
the discount rate remaining unchanged at 4 per cent. The and the volume of business considerably increased until toBank of France shows an increase of 8,875,000 francs in gold day, as noted above. The anthracite carriers as a group were
and a decrease of 125,000 francs in silver.
only moderately strong and Lackawanna was exceptional in
KBW TORK OITT OLBARTNG-HOUBB BANKS.
an advance of 10 points. Some of the granger issues, notably
Rock Island and Chicago Great Western, have been decidedly
Differences
1902
1903
1904
strong. Union Pacific has become much less active than of
from
Apr. 4
Apr. 5
Apr. 3
previous %e$*k
late, and at 2% below the highest closes with a net gain of
1% points. Metropolitan Street Railway also advanced
110,322,700
Capital
115,572.700
83,622,700 over 2 points within the week.
Otherwise the active railSurplus
122,764,400
132,366,200
103,665,700
way list shows an advance averaging about a point.
Loans 4 discoan ts 1,022,707,100 Inc U, 843,400 903,984,900 907,223,400
United States Steel issues and the copper stocks have been
Circulation
56,000
42.970,700
..
36,880.000 Deo
31,059,900
Net deposits
•1,089.369,4001 Ino 20,700,900 *888,762,300
964,618,300 the prominent features of the industrial list, all on improved
Specie
223,390,100 Ino 5,663,000 158,146,200 178,254.200
The former have been increasingly active
Legal tenders...
201,600
71,707,300 Deo
66,176,200
70,649,900 trade conditions.
and strong on the favorable quarterly statement of the comReserve held
296,097,400 Ino 6,481,400 224,321,400 243,804,100
IS 9. 0. 01 deposits 267,342,350 Ino 5,175,226 222,190,676 241,154.575 pany, and Anaconda Mining moved up 12 points on limited
U. S. Realty preferred advanced nearly 7 points on
sales.
27,755,050 Inc
286.176
Surplus reserve
2,130,826
2,649.525 the end of the strike.
Amalgamated Copper is 3% points
* $56,107,400 United States deposits included, against $45,948,100 last
Iron 4 points and
higher than last week, Colorado Fuel
corresponding week of 1903. With these
week and $39,698,200 the
United 8tates deposits eliminated, the surplus reserve womld he $41,781,900 Westinghouse 5 points.
on April 2 and $38,966,900 on March 26.
For daily volume of business see page IS84.
Note- Returns ol separate banks appear on the preceding page.
The following sales have occurred this week of shares not
Foreign Exchange. After opening firm the foreign exrepresented in our detailed list on the pages which follow.
hange market grew easier on more liberal offerings of bills,
.
&
—
but there was prompt recovery and the tone was generally
strong thereafter. Gold shipments to Europe, $2,968,000.
To-day's (Friday's) nominal rates for sterling exchange
were 4 85% for sixty day and 4 88 for sight.
Today's (Friday's) actual rates for sterling exchange were
4 8480 @4 8490 for long, 4 8735@4 8740 for short and 4 8770@
4 8780 for cables. Commercial on banks, 4 8450@4 8465, and
for payment, 4 83%@4 84%. Cotton for payment,
4 83%@4 84; cotton for acceptance, 4 8450@4 8465, and
grain for payment, 4 84J^@4 84%.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 17%*@5 17% for long and 5 15%f@5 15% for short.
Germany bankers' marks were 94 15-16f@94 15-16 for long
and 95 5-16f@95 5-16 for short. Amsterdam bankers' guilders
were 40J^@40 3-16* for long and 40 5-16@40 5-16^ for short.
documents
Exchange at Paris on London to-day, 25 f. 13% c; week's
f 14 c. high and 25 f 13% c. low.
The week's range for exchange rates follows
range, 25
.
.
-Long.-
Sterling Actual—
High... 14 8480
®
-Short.-
-Cables.-
4 8735
4 8740
4 8775
4 8720
4 8736
4 8765
I
5 15«8t
I
5
*
4 8490
4 8480
Paris Bankers' Francs—
High... 5 17^*
® 5 17h
Low... 5 17»«*
» 6 17>a
Germany Bankers' Marks-
15V
»65 16 f
« 95t
P5i*
® 94i»is
Amsterdam Bankers' Builders—
High...
40V* « 40V1
40*i«
Low...
40*16
40V* * 40M
High...
Low....
I
94i*i«
I
94">8
I
.
4 8785
4 8775
5 15^
5 16«8t
Low... |4 8476
I
I
*
9
•
®
*
;
Allls-Chalraera Co
Prererred
Araer Agrloul Chem, pf
Amer Tobacco Co, pref
Cleveland* Pittsburgh.
Detroit City Gas
.
Homestake Mining
Ill Cent leased lines
Bange Jor Week
Range
40*18**
40»i6**
Plus: fl i i9 of
Plus HI16OI 1%.
:
since Jan. 1.
Week
stk.
100
7*g Apr
240 40 is Apr
100 72 Apr
860 134 Apr
1784Apr
73 Apr
10 51*4 Apr
100 104 >s Apr
100 182 "a Apr
15
2(J0
Morris & Essex
Ontario Silver Mining...
10
4 7aApr
Phoenix Gold Mining... 9,400 10 Apr
Standard Mining
200 2 75 Apr
United Fruit Co
300 100 Apr
7?8 Apr
43 Apr
72 Apr
135 Apr
178>aApr
73 Apr
8
6
8
6
2
2
6 1*4 Apr 8
6 Mar
89%Mar
15 Feb
6 4^ Feb
Apr 75 Wan
lHO^Feb 135 Jan
178*-jApr 181 Mar
73 Mar 76Wan
49>aMar 6 1*4 Apr
72
Wan 104Wan
104 >u Apr 6 103
182 Vi Apr 7 l»2»aApr
4 78 Apr 8
•13 Apr 7
2-76
Apr
4^Jan
08
Mar
1
6b
Jan
4 TB Apr
*16 Jan
Feb 2 75 Apr
96 Feb lOlVjMar
2-25
100»4Apr 8
—
Ontglde Market. The activity and strength in the copper
group has been the overshadowing feature in the market for
unlisted securities this week. Greene Consolidated Copper
has been by far the most active stock, total transactions for
the week aggregating, it is estimated, about 45,000 shares.
The price of this stock rose from 12J4 to 16%, but at the
close to-day it reacted to 15J^. On increased trading Union
Copper advanced from
to 1, closing to-day at the high figure. Montreal
Boston moved up from
to %. Less interest has been manifest in the merger stocks this week and
dealings have practically been confined to Northern Securion Saturday to 100
ties; the price of this stock advanced
but on Monday it fell to 9734; subsequently it rose irregularly to 99, and closed to-day at 98%; about 16,000 shares
changed hands during the week. The price of Northern
Securities "stubs" dropped from $250 to $150, but later recovered to $225. Great Northern preferred, "when released,"
gained 9 points to 175; the last sale was at 174%; a sale was
made on the Stock Exchange to-day "regular" at 180. The
price of Standard Oil stock to-day rose 12 points to 632, but
Power of
at the close it reacted to 625. Light, Fuel
W. Va. advanced from 31% to 35, but later it fell back
to 3314.
Outside quotations will be found on page 1384.
&
%
%
%
95»i«
95»i«t
**
in ol 1%. t *s» or 1%. % •„ 01 1%.
ol
i 8» f or
ha of 1%.
The following were the rates for domestio ei
exchange on
New Fork at the under-mentioned cities to-day: Savannah,
12%o. per $1,000 premium; Charleston, 25c. per $1,000 premium New Orleans, bank, par @ 10c. per $1,000 premium;
oommeroial, 50® 25c. per $1,000 discount; Chioago, 20 @ 30c.
per $1,000 premium; St. Louts, 45c. per $1,000 premium; San
Francisco, $1 50 per $1,000 premium.
Less :
Hales
tor
STOCKS
WttK Ending April 8
&
%
%
%
New York
Stock
Exchange— Stock
OCCUPYING
BTOOKB—BienSBI AND LOWSB!
.)/(>/,
,/
•24
•62
71%
1
•183
114% 115
11531,11536
80
43 34
*1H
•182
115
15%
16%
15^4
87
09%
27% 27%
144% 145%
*174%176
171% 171%
•135
•165
•9
140
175
•82
90
44% 44%
118
132
116%
1
123
82
91
44% 44%
118
132
123
•135
•165
*8%
•19
20
MO
169% •168
175
9 34
20
140
175
83
200
130
82
92
180
9%
•135
•165
140
175
&
21%
5% 5%
21
111
16*8
•53
'23 "a
153
269
l
•20
•10
•19
•64
2134
•268
20
21
10
•19
12
21
•13
2534
63
40
•58
•70
15
26% 26%
64
41
60
78
55
175
17
•51
17%
54%
24% 24%
162%
267
270
270
21
21%
69% 70
•9% 11%
10
•19
21
21 34
•20
26
25
10% 10%
•40
•170
26%
40%
60
78
55
176
•58
•70
•40
•170
41
41=8
60
78
70
40
78
171
178
19
65
834
15
7%
•
•8034
1334
75
82
•
•80
130% 130% 130%
19
1838
34% 34%
35
•25% 2H
19 34
35
30
•25
66
66%
"18
20
35 38 35 34
•25% 30
173
•25
105
275
64
108%
142%
•76% 79%
111% 112
~
9%
•125
62%
•119
"17
38%
93%
108
38
•1H
117
•26
•100
"59
10
10
9%
135 •125 135 •125
•45
•45
55
•86
85
485
34 02
•61
62% 01
120 •119% 121 •117
1734
18% •17
18%
38% •37% 39% 39
92 34
93
92% 93
110
109
•109 110
•38
38
38
38
19% •18
19% •18
117%
29%
116% 117%
115
65
18'.'%
•26
*lno
•69
65
189% •188% 190
58
'.j
•85
•52
•86
"63
90
66
loo
118% 118»4
•17
•74
76
*5H
•90
4 1%
80
82
97
•17
•74
135
55
95
02%
120
20
76
120
18
18%
39 78 40%
93% 94%
94
112
39
{115
" 38
115
38 %
19% "18% 19%
1
5H78
68:%
•62
•85
*03
118
•18
75
135
62% 62%
18
3934
89%
56
100
06
•90
10%
119
21% 21%
68
90
105
275
54
10
•125
116% 117
117%118%
21)
•
10%
8934
57
100
67
118%
21
76
117%
h',' B
•27
28% •27
•105 120 •105
•60
60
65
}18S 34 188 3, 189
21% 21%
421% 21%
68
58%
•85
•53
•85
"03
28%
90
105
275
52
9 a4
110
85%
62%
62
60
•92
•
97
70
29
120
65
189%
21%
58%
•87
..2
'4
22
693g
90
56
100
66
%
97
•60
•90
*9
88
•10% 20
pref. vot.
Detroit united
1,100
1,100
&
Shore
So.
Do
100
tr. ctfs
tr. ctfs.
330
335
Atl..
pref
55*,920
L/rie
Do 1st pref
Do 2d pref
Ill
11,407
2,100
& Terre Haute..
72%
Do
66%
10
93
B
deb. ctf.
pref
600
600
.".
5,016
36%
Do pief. vot. tr. ctfs.
14% Keokuk & Des Moines...
9%
•130
"45
•85
62
L.
Do
2,100
&
\/|
427L%
Nashville.
<fe
anhattan Elevated
.
100 49
21,665 101
.
.
I'-Letrop. Secur., sub. rec.
Metropolitan Street
Met. West Side El. (Chic.)
Do
8,170
Michigan Central
Minneapolis & St. Louis.
Minn.
S. P.
&
Mar
45
pref
Mexican Central
10
135
55
95
62
22% Jail
Feb 25
Mar23
Feb 8
Feb 24
Feb 2
Jan 16
Feb 2 4
Mar23
Feb23
6,545 139% Marl2
1,977 72% Marl4
15,020 10434 Marl4
16 Jan 15
Mich. South'11
Long Island
Louisville
31
S. S.
10
1,120
Marie.
9
Mar2:;
85 Jan 7
134 34 Jan 28
8
Jan 14
Jan 21
Jan 21
Jan 21
33% Jan 19
14% Apr 8
42
29
69
21
Apr s
30% Jan 25
95 Feb 23
50
4?9
pref
Shore
78
•18
•74
02
97
•60
•90
•17
•74
21
78
.
......
20
78
Feb 24
4271%
55% Jan 2
111% Jan 22
14 6% Jan 22
92
124
Jan 21
Jan 2
17% Jan
4
Feb
5
450
9% Feb 2 5 14%Janll
4119% Feb 1 138 Feb26
FebU 67% Jan 18
61
90 Jan 6 94 34 Jan 21
55 Jan 4 67 Jan 20
117 Feb 26 126% Jan 28
14% Feb 24 19 Jan 21
36 Feb2o 42% Jan 22
87 Feb 24 95% Jan 22
..
62
;
l.">
•10
;
12
40
•17
40
20
Do
,
•60
•90
97
•10
•38
•17
61% Jan 12
lll%Marl2
17 Marl6
100 75 Feb 24
164,170
Peoria & Eastern
Pore Marquette
piet
Cin. Chic.
&
.... ......
67% Jan 22
123% Jan 21
23% Jan 22
81% Jan 23
45%
L'lttsl).
1
Do prof
leading, vot'g
Jan
104
Feb
91!%
71% Feb
Feb
150
St. L.
tr. ctfs..
pref. vot. tr. ctfs...
pref. vot'g tr. otfs.
94,920
411
60 Mar 9 66%
97 Jan 15 VS
38 34 Marl4 48
76 Mai 1 81
65% Feb 2 62
May 17%.lan
May 50 34 Jan
Aug 99% Jan
J'ly
J'ly
64% Feb.
39% J'ly 72% Jan
78 Aug 91 Jan
31 Sep 74% Feb
44
Oct 209 Jan
Dec 85 Jan
Aug 27% Jan
Sep 106% Feb
Oct 99% Mar
126% J'ly 151 Jan
16 J'ly 48 Jan
30% Oct 77% Jan
25% Oct 47%Jan
62 % Oct 82 34 Feb
UB % Oct 36% Jan
29 Oct 61% Jan
10 Oct 40 Mar
48 J'ly {55 Apr
23% Nov 53 Jan
89 Nov 118 Feb
275 Dec 334%Jan
49 Dec 83 Jan
95 Sep 130% Jan
126% Sep 155% Jan
70% J'ly 128% Jan
99% Sep 142% Jan
17 Deo 38 Jan
51% Dec 88 Jan
8 % Nov 29 Mar
102 May 135 Jan
41 Oct 110 Jan
83 Nov 118 Feb
42 Aug 79% Feb
109% J 'ne 132% Feb
15% Oct 30% Jau
33 Oct 63 % Feb
85% Aug 115% Feb
85 Oct 133% Deo
34%.Mai 47% May
17 Nov 28%J'na
112% J'ly 166 Jau
19% Sep 45 Jan
100 Oct 118 Jan
50 Sep 87 Jan
US7 % May 22.".% Jau
19
Sep 35% Fob
53% Nov 76% Feb
85 Aug 93 % Feb
39% Sep 72 Jan
80 J'ly 100 Feb
50 % Aug 76 Jan
110% Nov 157%Jan
15 J'ly 39 Jan
1
GO
73
10
63
77
74
J'ly
91%
.May
Dec 476
J 74
...... ...
Jan 22
Jan 22
Jan 26
79
iVlst
Jan 25
01
2d
Jan 26
25
166,596 19% Marll 27% Jan 22
Rock Island Company
pref
25,300 67% Jan 6 68% Jan 22
66%
Do
36% Feb 6 38% Feb 9
llutland, prof
U MarlS 14 Jan 23
12
Ct, J oseph&Gr'd Island.
>•> Do
200 36 Feb 9 45 Jau 19
40
lstpref
20
Do 2d pref
16 Jan 8 20% Jan 19
62
96
-
Dec 119 Jan
31%. Jan
44% Aug 72 Jan
17 Aug 48 Jan
149 Aug 183% Feb
230 J'ly 276% Jan
18 Oct
43 Feb
62 Nov 90% Feb
12 Sep 47 % Jan
734 Aug 20% Jan
14 Nov 39 34 Jan
55 Oct 90 Jan
7
Aug 19% Feb
10 Nov 29% Feb
23 Aug 42% Jan
62 % Apr 74 Feb
Feb 2
Feb 3
79% Jan 7
15% Apr 6
77% Jan 22
700 10%Jan 11
200 45% Apr 7
210 26 Marll
Western...
alee Erie<fc
I"
Mar 2 4
11% Feb 26
70 Feb 11
77 Marl2
125 34 Feb 24
17 Febl8
72
800
430 32
25
3,873 65
745 16%
pref
¥7"anawhacfc Michigan..
JVCFt.S.&M.,tr. cts. pfd
Kansas City So. vot. tr. ..
J-*
Feb25 67% Jan 22
8 Feb 6 10% Jan 22
ll%Feb29 16% Jan 23
22 Feb26 29% Jan 2
61% Feb 29 6934 Jan 27
37% Feb 29 50% Jan 2
62 Jan 11 66% Jan 27
61
Feb 23 72
52% Feb 4 54
150 170 Marl7 186
131% Illinois Central
19% Iowa Central
37
29
68
20
24% Jan 22
7
8% Feb 29 14% Jan 23
17 Mar 2 29% Jan 25
72
pref
ITocking Valley
i-JLDo
19% Jan
:
11
7
Do
2
11
40
20
• 1
Dodge.
Ft.
'4
•9
1
&
Jan
18
1,700 52 Feb 23 58% Jan 25
Feb 23 28% Jan 22
1,400 22
8,333 149 Marl2 168% Jan 22
5,473 250% Feb 23 275 34 Apr 7
3,300 18 Marl 4 23% Jan 22
1,350 64% Feb 2 4 74% Jan 22
pref
Detroit South. vot.
Jan 6
8%Feb24
Do pre!
70
i 120% 120%
18
18% 17% 17 Mo. Kansas i*= Texas
2.300
39% 89% 40
40
2,51o
Do pref
94
94 76
93% 94% Missouri Pacilic
116.290
3116 116
115% 110% XT ash. Chatt. & St. Louis
1,980 101%Feb2i 124% Jan 11
38 39
37% 37% LI at.of Mex, non-cuni.pf
400 34% Feb 25 41 Jan 11
*18 34 20
•18% 19%
Do 2d pref
15% Fob 25 21% Jau 8
117% 117% 116% 117% N. Y. Central & Hudson..
8,115 112%Marl2 122 Jau 8
•27
29% •27
25%.Mar 7 32%. la 23
29% N. Y. Chic. & SU Louis...
105 110 •105 110
108 Jan 2 10S Jan 21
Do lstpref
•60
•60
05
65
63 Jan 19 69 Jan2'
Do 2d prof
188% 189% } 188% 189% N. Y. N. Haven & Haiti.
824 41SS% Apr 5 196 Jan 23
21% 22% 21% 21% N. Y. Ontario & Western. 13,100 19%Marl4 t4% .Ian 25
68% 59%
59% 69% Norfolk ifc Western
8,235 53%Marl2 62% Jan 288 90 •89 90
100 88% Feb 26 89% Apr 6
Do adjustment, pref.
54 57 •64 56 pacific Coast Co
51 Feb 21 56% Jan 2.
•38
]
Do
Des Moines
4120% 120%
44%
-1
So., vot. trust
lstpf. vot. tr. cfs.
2d pf. vot. tr. ctfs.
Do
Do
Jan
Jan
Jan
103%. J an
41
69
Sep ltio Feb
121% Jan 22 115% Oct 138% Feb
68% Jan 2 57 % Sep 78%.Tan
163% Jan 19 153 Oct 190 Jan
36 Jan 28 27% Nov 53% Jan
40 Feb 6 18% Sep 37% Jan
85% Jan 21 60 Sep 75% Deo
J1S2 Jan 14 5170 J'ly 5184 -Mat
Mar24 105 J'ly 138% Jan
J 135
17% Jan 22 13 Aug 29% Jan
85% Jan 14 83% Sep 90% Jan
71 Jan 23 63 Oct 85% Jan
31 Jan 21
24 Sep 46% Feb
148% Jan 22 133% Aug 183% Jan
179% Jan 22 168 Aug 194% Jan
172%Mar29 153 Sep 224%. Jan
214% Jan 23 190 Aug 250 Jan
132 Oct 200% Jan
145 Jan 21 117 J'ly 162 Jan
176 Jan 6 4165 Nov 194 Jan
12% Jan 15
8 A up 19% Jan
26%Jau 15 15 Sep 36 Jan
4%Feb20 7%Jan 4
3
800
250 29% Feb 23 33 34 Jan 18 30
75 Mario 8034 Jan 22 66
1,700
100 100 Feb 8 110%Marl4 112
4,800 14% Feb 23 19 Jan 12 10
Ft. WortJi&Den. C.,stmp.
Great Northern, pref
Green Bay* W.. deb. ctf.A
81
420
36
14
60
10%
800
1,900
L.
St.
<fe
Mar22
135
176
&
Do
44% 45% 44%
44%
•77% 79% 479
79
79
79
'Oo
"59
*i;u
81
61
•60
•59% 01
61%
61%
•60
22% 23
22% 28% 2234 23 J4 23% 24
28% 26
23%
•02
13%
63% 65% 65
62% 83% 63% 63
00% 64%
45%
79% 79% •77% 79% 479
28% Mar 14
700 33 Jan 15
240 75 Jan 2
4181 Jan 18
&
85
•90 100
•86
IT Do lstpref
105
• 63
63 67 •64 66
Do 2d pref
118% 119% 119% 119% 118% 119% Pennsylvania
•74
8,160
pielaware<fc Hudson
l^elaw. Lack. & West'u.
Denver & Rio Grande
Do
28
105
275
49
135
•45
55
80 98
6234 63
Colorado
Evansv.
180
•25
45%
125
pref
Cleve. Cin. Chic.
Do pref
78
•40
180
36%
13%
10
......
•
63
50
27 28
•90 105
•250
250
•250 275
•47
•48
49
64
108% 108% 109% 108% 109% 109 109%
143
142% 142% 142% 143% 142% 143%
80
80
78 80
80
803ft
80 %
114=8 113 34ll5
114% 114 34 113% 115%
•90
105
275 •250
•47
54
10834 108
142
142%
79
•78% 79
112
111% 112
•90
•260
•46
109% 107 78
142 % 142
•90
•250
•46
•58
28
66 34
20
M
109%Marl2
64%Mar23
410 154%Feb20
Do
Duluth
8
15
26% 26%
64% 64 34
41% 42
180
73
66
06 %
66
66% 67
66%
21
19
1M
18%
19% •19
•34% 36% 34% 35 3e
35%
36
•10% 12% •10% 12% •10% 12% •10% 12%
12%
•40
•40
40 50
•40
50
50
50
45%
•26
•26
•26
26% 26% 28
27
28
28
66
•18
8
13
143e 15% * 1 4 % 15%
71
72% •71
72
71%
80% 80%
80% 80% 81
130%131
131.
131% 130%
193
19 34 • 19
20
19%
35 4 37
30% 30% •36
74
82
•
18
18%
•33
74
82
*8l>%
129-8
|129%129%
18
14%
14
19%
64% 64%
42
60
78
73
IS 3*
11,375
Chio. Rock Isl'd
Pacific
Chic. St. P. Minn.
Om.
Do pref
Chicago Terni'l Transfer.
Do pref
19
20% 27%
64 34 «5%
42
•55
25
9% 10%
21%
70
40
178
22%
71% 71%
22
•20
10% 10%
9%
15
•55
<>.
22
22%
70 78 71%
•20
25
26% 27%
64% 65
62
56
24% 24 7g
•13
65
•13
63% 64%
40
40%
64
55
•64
21%
•13
15
25 78 26%
15
183s
:
70%
70
•20
107%107%
17% 18%
55% 55%
25
25 %
153%154
111
17%
154% 153% 154
274% 274 275% •274% 276
153
270
21
21)34
20*4
•102
111
64% 64% 403% 64% "03%
•7% 10
*7%
8
8
65
•7% 10
•13
102
151 34
70% 70%
70 %
111
16% 17
53% 54
23% 24
*102
16%
53% 58%
26
64
•40
•58
•70
•40
•170
111
•it;
53%
23% •28
24
153% 161% 153%
269
21%
6J
•102
i>;%
S-
140
•934 10%
10% 10%
20%
20% 20% •20
5% 6% •5% 6 Chicago Union Traction.
•5% 8
534
•5% 6
5%
•31
31 32
•31
•30% 32
32
32
32
80% 30% •31
•75
•74% 75% 75% 763s •76% 76% •76% 76%
76% •74
76
•102
Do pref
T>altimore<fc Ohio
1 ' Do pref
Brooklyn Rapid Transit..
Buffalo Roch. <fc Pittsb'g.
Do pref
( lanadian Pacific
Central of
140
170
70
Highest
27 Jan 22 27 Jan 22 25 Dec
}52% Jan 8 ?54 Feb 1 5 4 % Dec
54 Aug
64 Feb 24 74% Apr
20,525 87% Jan 6 94% Apr 8 84% Aug
58,215 72%Marl4 85% Jan 27 71% Sep
87% Feb 19 92 Jan 28 82%J'ly
1 ,235
74,775 38 Feb 24 52% Jan 2 29 % Sep
100 118% Mar 2 127 Jan 12 121 Nov
Santa Fe. 242,650
38% Chicago & Alton
82
Do pref
•135
•165
87%
Lowest
Highest
Lowest
Chicago Burl & Quincy..
Chicago & East. III., pref.
124 Feb 11
16% 17% Chioago Great Western.. 59,985 14 Feb 24
•85
87%
Do 4 p. c. debentures
83% Feb 5
•65
71
Do 5 p. c. pref. "A"..
200 65 Feb 2
28% 29%
Do 4 p. c. pref. "B"..
3,220 25%Mar21
143% 145% Chicago Milw. & St. Paul. 109,150 137% Feb 24
176 176
Do pref
200 173 Mar 4
170% 171 Chicago <fe North Western 1,570 161%Marl4
Do pref
207 Fob 8
23
•
&
200
16% 17%
140
•165 175
934 10
160
82
130
84
65
28
19% 20%
45%
•180
200
121
135
9*8
Do pref
Atch. Topeka
New Jersey...
33% Chesapeake & Ohio
•158
38% 33
38
38%
160
88% 83%
88% •37%
•27
•136
'165
91
891
44 34
•120
•182
nn Arbor
A
116% 116%116 6 115%116%
66% •66% 66% •65% 66% wanada Southern
17 -V
17^
10% 17%
•82
87
87%
87% •85
3
•05
70%
69% 69 4
28
Shares
/V-
7
153s
28
144
27
56
>
Week
EXCHANGE
73% 74%
93% 94%
80% Sl%
28%
llo^ 145% 146% 145%145 7s
*174%170 *174%170
175 175 •174% 176
171%171 78 171% 171%
170% 170% •169 172
9%
•193s
60
90
90
45
124
16 34
•65
69%
27
28 34
142 34 144%
•24
•52
27
81-%
91
98%
80% 81%
STOCK
On
the
Railroads.
24
•62
73% 73%
93% 94%
•Oil
•65% 66
•65%
67
•65H
•166 168 »i58%i58% 158 158% 159
33 14 33 %
32 %
33
32% 33
38
38
•37% 3S%
38
38
38
•81
•80
-80
•80
83
83
83
•ISO 200 »180 200 •180 200 •180
•120 130 •120 130 •120 ISO •121
*b2
•65
April 7
.
Range for Prciiom
Jiange /or Year iyu4
basis of 100-sh.are lots
Year (lyvs
STOCKS
NEW YORK
jrrwav
April 8
1 niirsuay
92
91% 92%
79% 80 3j
•89
27
56
73 34
73%
71-,
72
90
44%
43% 44
•lis 124
122
•132
•24
•52
27
52
% 91%
78% 79%
90
22
•24
27
56
91
79% 80%
Wednesday
April 6
Tuesday
April
'1
April 4
•24
27
•62
56
72 % 72%
91% 92
490
44
ita
3
Record, Daily, Weekly and Yearly
TWO PAGES
b,ALt. bRICi.*
•
Saturn a
April 2
5
9
1
5
.
.
.
55
90
37 %
73
65 34
Sep
Sep
Jan
Jan
9
1
Oct 115
Nov 69% Jau
Sop 89% Feb
Nov 81 Jau
19% Aug 53% Jan
55 34 Sep
30
Aug
72
7
Oct
Oct
Oct
58
32
13
Jau
15% Jan
Jan
24% Jau
BANKS AND TKUhT COMPANIES— BROKERS' QUOTATIONS
Bouiu
JtW
Mid
Banks
Ask
YOIiK
<
America
AnitT
Aslof
..
I'.xoli.
1!
Bowei
...
500
215
700
325
510
225
900
Chatham
180
•
Commi
i
,ihi
340*'
Ask
!on8olidateil
ichgel
Bun Us
Fourth
in..
400
t202% 1204
L66
.;
in
...
Kasl River..
Federal ^
......
Fidelity^]
180
150
Ask
Bid
lllllSlrortV. 300
t265
...
II
'ollllllllKll, ..
DlscounlU
Butol
Century H
Chaee
Hid
City
Colonial
350
LOS
160
LOO
190
Gallatin
lansevoortl
1
lam eld
1
1
lerman Ami
German
Exl]
(uTinaiiia'l ..
200
390
140
500
160
210
100
160
Greenwioh
\
BOO
2 70
llanultonl]
..
Mech &
170
1
i
Market it
Fill
Vfeohanlos'
1
J
85
Ask
Bid
linult*
JelTersonU..
l.oaiherMfr.
Liberty ..
blnooln...
Maniiaitan'i.
140
275
500
960
810
230
147
290
600
LO50
830
240
t/295
Trail 1 to
Mercantile
.
.
.Mercli BlxOu
225
150
286
16
176
Hank*
MntnalJ
Nassaui]
lobster
Now York Co
N Y Nat Ex.
Now York...
i9ih WardTJ. 160
North Aiuer. 205
115
Northern
onontall,
225
PaolnoH
Pan; (now).. 150
3600 1000 Hanover
500 530
Merchants'.. 175
L86
Chemical ... 4000 linn
Imp it Trad. 560 553 Metropuew! 375 125
800
<"i icons' Ctr
LOO
580 aio
erring
People'sl
220 230
Mt Morris'i.. 210 215
* lini and asked prices; do sales wore made nu this iU»y,
l.imi uii 1,1,1 s:in',:<. i Ei rlgnts.
St.uo Oauts. it
1 Sale at Stock Exchange or at auction tins week.
s Trust, Co. oiiriiiio.tto-i.
h Ass ess 111 out p.uit.
Fifth
Fifth
First
1
i
1
.
Aid
270
ISO
400
1500
195
280
270
Ex
Ask
290
190
450
210*
290
218*
235"
47o"
".in
Hanks
Phems
Bid
Ask
100
525
110
Prod axohl
L65
DUversldeH .. 250
li'd
690
Second
600
Shoe& Loth. 140
soo
StateH
34th Stroet.. 200
12th Wanl1|. 120
23d WardH.. 125
Union Kxehl 155
United
1.75
Ptazall
dividend auil rights,
b
"
280
155
205
162%
97%
New stock.
.
Apr.
9,
%
.
'
Stock
1904.]
H
Record—Concluded— Page
STOCKS— HJQH EST AND LOWEST SALE PRICES
Wednesday
11
Thursday
April d
Tuesday
April 5
Monri a
April 4
Saturday
April 2
April 7
STOCKS
Friday
April 8
72 %
46%
154
•18 V,
•33 V,
49 14
156
14 s,
34%
49 %
22% 22%
84
84 %
23-8
23 %
119% 121
21% 21 V,
25 % 25 V,
35
86
92% 92 %
86%
92% 92%
8534
*8
{II
1
,
19
10
44 V,
l
84
84 Hi
24
122
21 l4
25% 25 V,
35
35
91 % 92 34
-I
'118
20
84 34 90
92 Hi 94 14
•8
10
43 34 44%
18% 18%
37%
19
37% 38
16 34
'45
•25
•62
•62
72
72
•60
72
4534 46 %
46
46% 46% 47%
'150 157
155 155 8155 155
•13
14% 14%
13V, 18 V
]4 34
35 V,
35
33-ls 33^4
33 Hi 35%
4934
49 4 61
50Hi 51%
48%
21% 221* •22 H» 22Hl 22% 22%
36 34
163,
47
27
183b 18 3*
•40
41
I6H1
16 H;
45
25
45
25
84% 84%
84% 84%
24 V,
120
•20
25
35 V,
92 V,
19%
37Hi
16%
45
•26
23V,
25
35 34
92Vj
88% 89 V,
93% 94%
•8
10
43 %
42%
19% 19%
38 V,
38
I6H1
17
45
48
28
18%
41
17
41
41
41
14%
34% 35%
50% 51V,
22% 22%
84*4
SO '4
26%
122
23 V.
25
35%
93 V,
38% 89%
93% 94
8
10
43
19% 19%
38%
17
17%
38
•44
48
i0% 26%
18% 1S%
18% 18%
41
38 34
Hi
•65
47
26% 26 7
18% 19
42
42%
(
01
the
137?
Range
On basis
tor Year 1904
of WO-share lots
Shares
L&SFr.JPM&Coctfs
Do lstpref
Do 2d pref
Lowest
Mar
39% Jan
!61
5,910
1
6
!
&
Range lor Previous
Year(VMKi)
Hinhest
150 160 Jan 9
157
C.&E. I. com stock tr ctfs
74d 12% Mar 9
14% 14% St. Louis Southwestern..
7,750 29% Feb 24
34% 35%
Do prof
16,330 41% Marl4
49% 51 Southern Pacific Co
22% 22% SouthernT.tr. cfs. stmped 20,480 18% Feb24
3,889 77% Jan 6
do
85% 85 H
Do pref.
90 Feb 25
M. <fc O. stock tr. ctfs ...
9,460 21% Feb 2, i
24% 25 V 'Pexas & Pacific
120 121 1 lurd Avenue (N. Y.)...
300 115 Mar 14
•21
100 20 Feb 23
23 V, Toledo Railways & Light
2,300 22 Feb 20
25 V, Tol. St. L. & \V. v. tr. ctfs
25
36
36 V,
Do pref. vot. tr. ctfs. 1.100 32 Keb21
2,900 87% Feb 2 3
92% 93% Twin City Rapid Transit.
Do pref
457,175 71 Marl 4
87% 88% Union Pacific
12,758 £86% Feb 2 5
92% 92%
Do pref
8% 10 U nitRysInv't of San Fran
9 Feb 17
•43
560 43 Apr 6
44%
Do pref
2,240 17 Feb 24
19% 19% Wabash
26,845 32 34 Feb 24
38
38
Do pref
17
17% Wheeling & Lake Erie... •2,060 14%Feb2o
• 45
100 42 Feb24
48
Do lstpref
26 27
300 22 Feb 24
Do 2d pref
2,760 16% Jan 4
19
Wisconsin Cent. v. tr. cfs.
18%
1,330 38 Jan 4
41% 42
Do pref. vot. tr. ctfs.
Industrial
j
Week
EXCHANGE
72%
47% 47%
72
48
157
843
10
44
19Vj
18
14 34
24 Hi
4
24 Hi
121 121% •120
•20
23% •20
25% 25 Vj 24
35
35
35%
92% 93% 93
24 Hi
120
41
47
150
24 3
88 V, 89 V,
93 Hi 94
•8
43
•62
5
2
Sales
NEW YORK STOCK
St.
-62
40
5
.
870
Lowest
Jan 28
Highest
56
68
90%K<-1)
J'ly
Aug 88
Feb
Dee 78 Feb
167 Jan
148% Sep 170 J'ly
16 V, Jan
12 Aug 80 Jan
8ri% Jan
24 Aus 68 Jan
62 V, an
38% Sep 68% Mac
23% Jan 27 16% Oct 36% Jau
86% Jan 22 69 % Oct 96 Feb
92 Jan 26 83 J 'in 90% Mat
27% Jan 23 20 V, Aug 43% Feb
124% Jan 13 100 Oct 128% Jan
22 Jan 21
17 V, Oct 37% Jau
29% Jan 23 1 5 Sep 31%.Ian
3934 Jan 13 24 Sep 48 Jau
95% Jan 21 79 Oct 122 V, Jan
155 J'uc 8159 V, Deo
90 Apr 4 05% Aug 104% Jan
49% Jan
,J
94% Apr
39
23
23
22
23
27
83% Aug 95% Feb
9 Dec 22% Jan
35 J'ly 64% Jan
16% Oct 32% Feb
27% Sep 55% Feb
12 J'ly 27% Feb
40% Nov 62 Maj
20 Sep 38% Feb
14% Oct 29% Feb
33 Nov 55% Feb
6
Jan 15
47% Jan 22
21% Jan 27
12
41
Jan2;"
22
52% Jan 22
2934 Jan 27
19% Jan
21% Jan 20
47% Jan 27
iHiscell
8220 Feb
225 Jan 6 8204 Jan 235 Feb
Express
50% 51% 50% 61V, 51% 52V,
62% Apr 8 33% Oct 75% Mat
48%
malgamated Copper... 247,685 43% Feb
,
•20 V,
1934 20V,
20
3,642 17 34 Jan
20%
20% 19% 20 American Car & Foundry
21% Jan 27 1 7 % Nov 41% Jan>
7234 73
1,514 67 Jau
7434 Apr 7 60% Not 93 Jan
74
72% 73
74% *72% 74%
Do pref
-29% 30% •30
30
30^4
350 28% Jan
30
29% 30 American Cotton Oil
32% Jan 25 25% Aug 46V, Feb
•38
•88
•83
•88
90
90
90
89 Jan 22 90 Feb 9 82 J'ly 98 Feb
90
Do pref
•23
23 28 •23 28 •23 28 American Dist.Telegrapl)
23 Mar21 25 Jan 15 24 Nov 41% Jan,
28
16: 8135 Mar 7 8197 Jan 27 171 Aug 235
192 192 •190 195 •188 195 8190 195 American Express
Feb
•6% 8
•6% 7V,
8
Twine ..
5% Jan 19 8%Febl5
6%
6 J'ly 29% Jau
7% American Grass
•3 34
700
4% 4%
4% 4%
2% Jan 5 5% Jan 27
2% Oct 11% Jau
4% •3% 4%
4% 4% Amer Hide <fc Leather
4Hz
1834 18%
1,125 ll%Jan 5 18% Apr 8 10 Oct 37% Jan:
•14% 15H, 14% 16% 16% 16% 16% 17% 17% 18
De pref
1,386
6%Mar24 9 V, Jan 2
7% 7%
7
7% 7%
7% 7 Hi
4 Oct
7
7% 7% American Ice
7
7
11% Jan
•27
2,112 24%Mar24 36%Jan 4 10% Oct 42% Jan
27% 827% 27% 27% 27% 27% 27% 27% 27% 28
28%
Do pref
*8% 9
10%
•8% 83, American Linseed
8%Marl6 12 Jan 22
5 J'ly 1934 Jan.
9
Hi
8%
10%
28% 31 28% 31 •28 31%
•28% 30
25 28 Jan 19 30 Mar 21 23% Nov 48% Jan
Do pref
828 V, 28 V, •235a 32
2134 22 American Locomotive...
2,310 16% Jan 6 23% Feb 16 10% Oct 31% Feb
22
22
21=8 21% •21
21% 21% 21% 22 % 22
1,318 75% Jan 6 83 Mar22 67% Oct 95% Feb
82% 82% 82% 82 V, 82% 82% 883
83
82 Hi 82%
82 Hi 82 34
Do pref
-3
•3
•3
•3
-3
434 Jan 22
•3
4
3 Jan 8
4
4
4
4 American Malting
2 % Mar
5 % Feb
4
•18
•18
•18
•18
20
100 17 Jan 7 22 Jan 14 14% Sep 24%Jan
•18
20
20
20
19% 19 V,
20
Do pref
3,890 40 Feb 25 51% Jan 28 36% Oct 52% Feb
48% 48Hi 48% 49
49
49 '4 2-48% 48V,
49 V, Amer. Smelt'gA Refin'g.
48% 49% 49%
92 '4 92%
4,935 88 34 Jan 6 94%Jan28 80% Oct 99% Feb
93
93
93
93% 93% 93 V, 93 '4 93% 92% 93 3
Do pref
100 110 Jan21 120 Feb 29 90 Aue 126 War
112 117 •112 117
117 117 •112 120 •113 120 *112 120 American Snuff
•90
•90
90
90
335 85 Jan 6 91 Jan 13 80 Sep 98% Jani
91
91
87
91
90V,
91
91
890
Do pref
3
12734 128% 126 127
126% 127% 127 127% 127 127% 126% 127% American Sugar Renninp 26,670 122% Mar 7 131% Jan 25 107% Oct 134%Jani
391 123 Jan 4 126% Jan 30 116 Aug 123 Deo
•125 126H2 125% 125% •125 126 125 126% 125 126
126 126
Do pref
300 121 Feb 16 130 Jan 25 117 V, Oct 169 Feb
124 124
123 123 Amer. Teleph. & Teleg...
•125% 125% 125 Hi 1 25 H. •126 127 •126 128
320 10 Jan 4 12% Jan 11
10% 10% 10% •1034 11% 11% 11V, 811% 11% American Woolen
10% 10% •10
7% Oct 14% Feb
•74
•74
•70^4
38 69 Jan 25 75 Marl6 65 Oct 80 Jan
70%
873
73
77
877
Do pref
•66
67
70% 71
74
77
5,810 61 Feb 20 79 Apr 8 5S Oct 125% Feb70
67
77% 79 Anaconda Copper
66% 67
192 200
•190 200 •192 200 190 198
1,400 185 Mario 209% Jan 1
195%195% 199 202% Orooklyn Union Gas
170 Sep 225 Jan
3
534 Mar 1
' 5 Hi
-5% 634
6
•5% 6% Drunsw. Dock & C. Im i>'
•5% 6 3
<u >a
7
Jan 20
5 Oct
6%
6 4
15% Jan
48% 50 •48% 50 •48% 50 •48% 50 Butterick Co
•18% 50
47% Feb 19 49% Mar 7 40 Aug 55 Jan
*48Hi 50
32% ( Colorado Fuel& Iron... 13,810 25 % Marl2 34% Jau 2? 24 Nov 82%Jau
28% 30% 30% 32% 32% 33% 32
28% 29
•27 H> 29
•
64 *
100 63 Apr 5 65 Jan 27 65 Dec 122 Jan
63
64
J Do pref
64
63
64
64 •
34 13%
1234 13
12
1,220 1134 Feb27 16 34 Jan 20
13
13% Col. & Hock. Coal & Iron.
9% Nov 22% Feb
*12H» 13% •12 Hi 13H2 •12% 13%
•197 198
198 14 198% 199% 199% 200 V, 199% 200% 199%203 Consolidated Gas (N. Y.). 20,073 185 Feb 8 203 Apr 8 164 Aug 222 Jan
198
109%111 •107% 110 }109 103 Continental Tobacco, prel
2,130 101%Jan 4 111 Apr 6 94% Aug 119 Jau
8107% 107% 106 34 106 3 108 109
2,195 12V,Marl5 22% Jan 25 15% Nov 35 Mar
•13% 1334
13% 13% Corn Products
13% 13 34 •13% 13% •13% 13% 13% 13%
'
*68 l4. 72 %
68V, 72% •63% 71
•68% 71
•68% 71
65 Mar 9 74% Jan 23 60 Nov 85% Jan
Do pref
68 V, 72
•22% 23V,
22% 23
24
25
21% 22% Distillers Securit's Corp. 3,425 21% Apr 8 20% Jan 31 20 J'ly 34% Jan
25 h 824 Hi 25% z23
162 V, 162 Hi 164 164% 164% 164% 164 164 General Electric
1,240 56% Feb 24 179% Jan 23 136 Sep 204 Feb
•164 168
163 163
•11
'11% 12% 12
12
12
12% 11% 12 International Paper
800 10 34 Jan 6 14% Jan 25
12
12
12
9 J'ly 19% Jan
2,655 64% Feb 9 67% Apr 5 57% Nov 74 V, Feb
67
66% 67% 67% 67% 67% 67% 67
67
65 Hi 65%
66
Do pref
26 Hi 28V, 26 28% •26% 28% 26% 28 l4 •26% 28V, International Power...
26 Max 1 28 Marl 2 23 Nov 73 Jan
•26Hi
•37
•37
•37
•37
43
39
40
600 31 Jan 2 40 Apr 7 28 Dec 40% May
43
43
39
39 Internat'l Steam Pump
39
•75
-75
•75
77% 77% 78
76
77
80
400 71%Feb 9 78 Apr 7 70 Oct 89% Jan
78
78
Do pref
78
•7
•6% 10
10
•6% 10
10
10 Manhattan Beach
6%Mar21 7 Mar26
9
6% Sep 13 May
•6H1
43% 44 •43 44
430 36 Jan 4 45 Mar23 32 Oct 47% Feb
44
44 National Biscuit
43% 43% *43 34 43% •43% 44
104 Hi 1043; 104 105 V, •104 104% *104 105 8105 105 J105 105
311 100% Jan 16 104% Apr 2 94 Oct 106% May
Do pref
•14
•14% 15
15
600 14% Feb 25 16% Jan 23 10% Nov 29% Feb
15
15% 15% 15V, National Lead
*UHi 15% •14% 15
-85
86 92
•85
85% 92
87
87
270 80% Jan 26 87 Apr . 75 Oct 95 Feb
92
87
87
92
Do pref
•
•120 131 •125 130 115 130 117 130 115 130 New York Air Brake
20 131
120 Feb 2 139 34 Jan 22 105 Oct 177 Jan
85
84 34 84% 884% 8434 North American Co., new
8584% 85
875 80 Mar 12 90 Jan 26 68 Sep 124% Jan
886
882% 82% 84
28
26% 28
28
27 34 27 34
27% 27% 28
28
28
28
1,000 24 Feb27 33% Jan 18 17 Aug 42% Jan
Pacific Mail
9634 97%
J6 34 97%
98 100%
95 V, 98%
96% 97 V,
96% 97%
eop. Gas-L.<& C. (Chic.) 42,800 92% Marl2 102% Jan 23
87 34 Sep 108% Feb
28% 30 830 30 -28% 29% 29% 30
30
30 V,
30
30V, Pressed Steel Car
4,020 26% Feb 24 33 Jan 2 s 22% Nov 65% Jan
•69
•69
•69
71
70
870
71
71
871
71
Do pref
102 69 Jau 2 72% Jan 28 62 % Nov 95 Feb
871% 71
8209 "s 210 •208 210 •208 211 •209 212 8209 209 •209 211 Pullman Company
16G 209 Marl4 219% Jan 22 196 J'ly 235% Jan
*20
-20
'20
21
21
20% 21
20
21
21
20% 20%
ail way Steel Spring..
300 19 Febl5 24% Mar 2 16 Sep 37 Feb
•70
•71
76
7434 •70
75
VDo pref
74% 75
70
505 7134 Marl6 78 Jan 4 67 Nov 90 Feb
76% 876% 76V, i>
7% 8
7% 7%
5,230
6% Jan
7% 7%
7% 7%
7% 8
7% 77, Republic Iron & Steel ..
8 34 Jan 25
22% Feb
46% 47% 47% 43
47
43% 4o\
47% 48
Do pref
43% 44% 44
9,650 40% Jan
49%Jan2„ 36% Nov 80% Feb
19% 19% 19
V, Jan
19% 19% 19% 19% 19% 19%
19% 19% 19% Rubber Goods Mfg
1,511 17
22% Jan 27 12 J'ly 30 Feb
79 34 79 34
79
78
79 Hi 79% •77 Hi 79 Hi
78
80
79
Do pref
79
775 74% Jan 15 7934 Apr 4 60 J'ly 84% Feb
39% 40% 41
41V,
39 Hi 39%
41
41
39% 39%
loss-Sheffield St. & Iron
1,410 31% Jan
41% Apr 8 22% Oct 72 Feb
*39H» 3934
8334 84
82 86
•82
•80
•80
85
82
Do pref
85
85
200 77 Jan
84 Apr 6 67 Nov 97% Feb
L
•7,
•7,
*% 1%
1
1
IV, Standard Rope & Twine..
200
% Mar _ 1 % Feb 24
6% Feb
1%
1 4
%
8
's
% Sep
%
'a
39
39
40% 40% 40% 41% 39% 41 Tenn. Coal, Iron & RR... 19,310 34 V, Feb 24 41% Apr 7 25 78 Nov 68% Mar
40
39% 38 V, 39
•25
•26
28 28H, Texas Pacific Land Trust
28%
29
29
28% 28% •28
200 27 Feb
29 Jan 22 22 Aug 40 34 Jan
6
5
4 Mar 2 2
298
5 % Jan 2o
4% J'ly 15 Jau
Union Bag & Paper
Do pref
40 45 Feb 24 58% Jan 4 57% Dec 79 34 Jau
200
6% 6% U. S. Cast I. Pipe & Form.
6% Apr 8 8% Jan 21
6 Sep 15 Feb
41
40
Do pref
42 Hi 42%
41
40% 40%
40
475 40 Mar21 46 Jan 22 33 Nov 55 Feb
•103 110 •105 110 •105 110 103 110 *104 110 }110 110 United States Express...
15 100 Feb 24 110 Jan 25 95 Aug 150% Feb
7
7V,
7
7
7
7% United States Leather
6% 678
6% 6% *6% 7
2,550
6% Feb 23 8% Jan 25
6 Sep 15 l4 Feb
Do pref
78
78% 78% 78% 78% 78% 78%
78
878% 78% 78
78%
75% Jan 4 79% Jan 25 71% Oct 96% May
1,80
3
•6
7
7 4
6
6%
6% 6%
6% 6Hi
6% 7% U S Real ty& Construction 11,070 5% Jau 15 9% Jan 21
4 Dec 28% Jan
6%
50V, 51%
54
Do pref
50 34 50 34
51% 54 V, 53
54% 57
55% 57
16,646 40 Jan 14 57% Feb 2 30% Nov 73 Jau
14
14V,
13
14
14
United States Rubber
14
13% 14% 14
13%
13% 14
5,015 10% Feb 6 14% Jan 27
7 J'ly 19% Feb
58 V,
56
58% 59%
Do pref
66% 58% 6734 58 Hi 58
57% 59
66 34
6,982 41 Jau
59% Apr 8 30% J'ly 58 Feb
11
11% 10% 11
10% 11% 11% 11% 11% 11% 11% 12 United States Steel
104,981
12% Jan 2 10 Nov 39% Feb
9% Jau
Do pref
59% 59 34 68% 59
58% 59% 59% 60% 60% 62% 61% 62%
382,551 54Vi Feb
62% Apr 7 49% Nov 89% Jan
•29
•29
30 V, 30 Hi
30V)
29% 30 34
31
30% 30% 2834 29 Virginia-Carolina Chem.. 3,370 27 Jan
34%Jan25 17% Sep 66% Feb
•100 107 Hi 104 104
•100 107% 100 107 Hi 100 107 Hi
100 104
Do pref
116 98 Jan
106% Jan 26 80 Aug 128% Feb
•22
23 30 •25 35 •20 25 •20 24 Virginia Iron Coal & Coke
23
30
30
17 Sep 39% Feb
Vulcan Detaining
5% Dec 33% Jau
Do pref
70 Sep 31 Jau
'205 215
205 215 •205 215 •205 215
205 215 •205 215
8205 Jan 30 8212 Jan 6 «191 J'ly 249% Feb
Wells, Fargo & Co
•88
est'n Union Tele'gph
889
39
89
89
89
88% 39
88% 88% •88% 89
820 86 Jan 6 89%Marl7 80% Sep 93 Jan
•159 161 34 8158% 158% 160 161% 159 162
163 West'gh'seEl&AUgassen
162 162
162%
1,060 154 Feb23 173% Jan 21 130 Oct 221 Jan
'175 200
Do lstpref
175 200 175 200 •175 200 175 200 175 200
192 Jan 8a94 Jan 19 160 Sep 224 Jau
•220 226 *220 226
49 Hi 60
43% 49%
•20
20
20% 20 V,
•72
72 9 72 Hi
72 Hi
•29 Hi 31
•29 Hi 31
•88
•ss
90
90
•23
•23
28
28
•188 195 -188 195
'6>4
"6% 8
7 Hi
220
'220
226
226
•220
•220
226
6%
3%
8
Adams
226
50 3
8
8
8%
<
,,
5%
.,
t
'
'
;
6%
6%
1
.
S
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks
Bid
Varickl)
\Vash.H'htsll 200
WestSidell.. 500
Yorkvillel]
Ask
175
..
375
Bid
Banks
BBOOKLYN
Manuia ctrs'. 325
Mechanicsl] 220
Merchants'.. 115
Nassau
Nat City
North Sidelj
Ask
Bid
N. T. CITY
Bankers' Tr. 275
Bowl'gGreeu 198
Broad wayTr. 140
Ask
300
202
Bid
Ask
Exchange Tr
Farm Lo & Tr 1375 1425
Fifth Ave Tr 530 560
Guaranty Tr
630
Guardian Tr 175 185
Bid
Mut. Alliance 200
N Y Life&Tr 1000
N YSec&Tr 600
North Amer. 245
Real Est Tr't 325
StandardTr't 325
Tr Co of Am. 218
Union Trust
Ask
225
1050
Trust
ۥ% Bid Ask
BROOKLYN
|620
Brook'yn Tr 390
Fiat bosh
190 1200
320 340
Franklin
290 300
222% Hamilton
400
1375 Kings Co
SMtg&Tr 390 420 L Isl L&Tr. 295 1
250
Unit States 1475 1500 Nassan
340
Van N'denTr 190 200 People's
.'45
Williamsb'g. 235
Washington 390
Windsor
190 800
255
355
350
145
360
C'lR'tyB&Tr 440 460
310
BHOOKLYN
Central Tr'st 1900 1950 Knick'rb'k'r 370 890
230
Lincoln Tr... 325 340
People's^
City Trust... 270 285
215
BoroughH
Manhattan .. 475 500
150
Colonial
305 325
17th Wardl). 150
Broad wayli . 300
Mercantile .. 1000 1025
Common w'th 60
Sprague
210%
BrooklynH .. 130
Eastern Tr.. 145 155
Merchants'.. 200 225
Stuy v't Htsl 130
Con'yI&BBI 140
Empire
Metropolitan 600 625
300
Unionll
150
First
390
WaJJabouti;
Equitable Ti 650 700
MortonTrust 885 895
150
• Bid and asked prices; no sales on this day.
8 Less tiiau LOU snares.
? Ex ri^uts.
d J. P. Morgan m \Jo. certificate.-).
Ex stock dividend. s Trost Co. certificates.
Bauits m.irited with a paragraph
t Sale at Stock Exchange or at auction this week.
.
.
'J
(fl)
are State
banka
k
1
New York
Exchange— Bond
Stock
3
Weekly and Yearly
Record, Friday,
OCCUPYING FOUR PAGES
BONDS
/Vice
STOCK EXCHANGE
WKLK ENDING APK1L 8
/
N. Y.
Range or
April 8
US2s consol registered. dl93t
<il930
U S '2a consul coupon
U 8 2s codsoI reg small. .dl930
U 8 2s consol coup small, til 930
fcl9l8
U 8 3s registered
fcl918
U 8 3s coupon
U S3sreg small bouds..kl918
U 8 3s cou small bonds. -fclOl.s
A1907
U 8 4s registered
A1907
U 8 4s coupon
1925
U 8 4s registered
1925
U 8 4s coupon
Philippine Islands land pur.
1914-34 Q-F
Chase 4s
-S-°
Migh
A'o
106
100k Mar'04
1
105 %ioo% 106
105 %U)0%
...
107
107
108
133 34
133
1103*
"a
106 k 107
106% 107 k
107 108
Mar'04
Mar'04
Nov'03
Mar'04
132% 134
111% 111%
V
.
95HiFeb'02
four marks
983s Mar'04
ices o
1
n
to
o
the b aris
0438 Sep
'02
'00
109 14 Oct
102HjMar'02
Mar'02
1] 1
121 Mar'03
106 Apr'03
109 Hi Feb'99
102 Feb '04
130kJ'Iy'oi
120 Mar'Ot
96 Mar'04
93 Hi Nov'03
92 Hi Mar'04
1
7%
7k
10
Railroad
See So
By
Midi bee At Coast Line
la ba
Albany & Susq See Bel <fe Hud
Allegheny Valley See Penn BB
nee Bull B & P
cfc
See Cent of
J
/il995 Q-J
Arbor 1st g 4s
ABeg <& West
Am Dock Im
Ann
N
T S Pe gen g 4s.. .1995
Beglstered
1995
ftl995
Adjustment g 4s
Begistered
frl995
Stamped
A1995
East ukla Div 1st g 4s.. 1928
Clue & St Louis 1st 6s. .1915
Atl Knox & Nor 1st g5s.. 1940
Atlantic Coast 1st g4s.ft.1952
Charles & Sav 1st g 7s. .1930
1st gold 6s.. 1934
Sav P cfc
1934
1st gold 6s
St John's Div lstg 48.1934
Mid 1st gu gold 5s 1928
Ala
Bruns cfc
1st gu g 4s 193»
Sil Sp Oca & G gu g 4s 1918
Atlantic & Danv See South By
Atlantic & Yadk See South By
Austin & N
See Sou Pacific
S See Mich
Eat Creek &priorlg3ks. Cent
alt& Ohio
1925
Atoh
cfc
W
W
A-O
A-O
Not
Nov
M-N
MS
M-S
J-D
MS
J-J
A-O
A-O
92
92
99*4 Sale
99%
99%
99k 414
99% 5
90
89
90
82 k Jan '04
Sale
90
92
Sale
109
93
134
123
89%
90
42
88
93 34Dec'03
'02
114k Oct
92 k
93
Sale
149
,
125
k Nov'03
llOHa
112%Jan'04
95kNov'01
HOHi.
109
87
J-J
M-N
8
92
J-J
95
J-J
Mar'04
Aug'01
91k Oct '03
91%.
.
109
J-J
ftl925 Q-J
ftl948 A-O
ftl948 Q-J
Begistered
Gold 4s
Begistered
Conv deb 4s
1911 M-S
94 Sale
93 k Sale
4
93k
94 k
24
3
170
100%
93k
100% Sale 100k
101% Feb'04
Nov'03
94
PJun & M Div 1st g 3ksl925 M-N
Begistered
pl925
-N
P L E <& W Va Sysref 4sl941 S-F
88% Sale 88%
88% 17
88% 89
8
94% 94%
94 34
60
88 34 89*4 88%
89
Soutaw Div 1st g3ks... 1925 J-J
Begistered
90 k J'ly'02
ftl925
105
Monon Biv 1st gu g 5s. .1919
105kMar'u4
M-S 105k 110 109% Oct '03
Cen Ohio B 1st oglks.. 1930
Pitts Olev&Tol 1st g 6s 1922 A-O 117
119k Mar'04
95 100
98 Aug'03
Pitts & West 1st g 4s. ..1917 J-J
J P M & Co certfa
100k Feb '03
Beeoh Creek See N Y C & H
n
Bellev
Bklyn
Bruns
&
Montauk See Long 1
West See Atl Coast L
N Y & Erie
B & P gen g
Buffalo
Buffalo
AU
Car See lUinois Cent
cfc
<&
See Erie
5s.. .1937 M-S
114
West 1st g 4s gu 1998 A-O
Cl<&Mahlstgug5s.. 1943 J-J 112
Boch & Pitts 1st g 6s. .1921 F-A 119
Mar'04
114
Consul 1st g 6s
1922
Buffalo cfc Southwest See Erie
Buff
Susq lstref g 4a.dl951
Begistered
cil961
Bur Cedar B No 1st 68.1906
Con 1st cfc col trust g 5s.. 1934
,
&
J-D
&
103
A-O
1934 A-O
115k
Begistered
CBIF&N Wlstgu5s.l921
M<fc 8tLlstgug7s....l927
190s
Clanada South 1st 6s
'2d 5s
1913
Begistered
1913
A-O
J-D
J-J
M-S
M-S
121
97k
121kMar'04
122 k Mar'04
123
J-J
J-J
J-D
Apr'97
103
Sale
97k
....
97k
IB
Mar'04
Mar'04
103k 103
117
120kMar'0o
118 Jan '02
107Hi.
103% 8ale 103 k
103%
104%107k
cfc Shawn
See 111 Cent
Carolina Cent AeeSeab Air L
Carthage cfc Ad See JM V C «fc 11
<S'ee
B O B <fc N
Cen Branch U Platg4a...l94.s J-D
Con Branch By See Mu Pac
(Central
Cen
BB
Ohio
See Balli
B of (Ja col g
cfc
of
cfc
8a
BB
Begistered
1st pref income g 6s
91
k Mar'04
90
92 k
M-N
F-A
M-N
1946 M-N
pl946 Oot
P Wlstg5s
Dak& GtSogSs
)
Nassau Kleo gu g 4s
City
cfc
8
By
1
1951
Bait 1st g 5s. 1922
1921
1916
1924
1910
Chic<fe
Far & Sou assu g 6s
Hast
Div 1st 7s
&D
H4s
M4s
N4s
P4s
Chic B
I
108% Sale
"us"
'.'.'.'.'.
106% 106%
116k Mar'04
106% 107 k
105 k Sep '01
68 k
69
106% 107
2.-.
116kll8
103% 107k
66% 71k
99 k Sale
90k
72%
99k
Series
J-J
J-J
F-A
F-A
J-J
cfc
Pao
73% Sale
73 k
108 k Sale 108 k 108k
*102
100 Mar'04
102
85
78
Sale
85 k
101k
85
85
102
B5%
k Jan '03
84
82 k Sale
76
77
99%
91k
,
114%
128
129
109 k
'.'.'.'.'.
109 k.
108%.
J
J
J
J
113% 115
115%....
til
....
Coll trust gold 5s
1
9
1
M-S
cfc (+ gen g 5s .01919 J -J
1952 M-N
Consol gold 5s
1905 o-J
cfc Ft 1) 1st 4s
Des M
lst2ks
I'.Hi:.
J-J
Extension 4s
190C J-J
Keokcfc DesM 1st 6s.... 192:; A-O
on Next
100
99 k 101 k
94 k 94%
99
81k 84k
74k 77k
Mar04
99
92k
in
109%
...
108k....
117k...
116 ...
100
101
101k
91
LU7
93
109 k Dec 'OH
116
104% 106
Dec'O::
Loo" 106%
105% 107
106H-
114kH5
Feb'04
106k Jan '04
129% Oct '03
106k 106%
Feb'04
115% 116%
Dec '02
Jan '04
112k 113
116
120
113
128
108
108
173
109
108
111
97 k
11
I26kl28k
128 k
J'ly '03
Jan '04
108
173
109
107k 109
10S
169
109
Mar'04
Mar'04
108k
Dec '02
97k 98%
Mar'04
6k Apr'03
115%119
109% 111
114% 116
109% 110
115% Mar'04
110k Feb'04
115
115
110 Mar'04
137kJ'lv'99
116 117% 118 Feb'04
106
106 Mar'04
173 :... 169 Mar'04
112k.... 113% Oct 'Ob
106k 107 107 Mar'04
110% 113 111 Mar'04
109%.... 109% Feb'04
113% .... 114 Mar'04
lllk.... 113 Oct '03
115%.... 114k Mar'04
129%.... 129% Feb '04
102% 105 105
105
106% Oct '02
99
99% 100
99
103 Nov'98
107%....
106 ...
106 ....
104k...,
102
Apr'01
May'03
127 k
116%118%
106
169
106
169
107
107
110% 111
109% 109%
114%
114
114k H4k
129% 129%
105
104
"
lllk Ulk
lllk Deo '03
110 k Mar'04
97
k "99"
iVikiiik
109k 110%
106 107
104 k 106
104 104k
108 k 108%
Mar'04
Mar'04
Mar'04
108% Mar'04
107
105
104
108% 108%
108% Jan '04
116 k Mar'04
123 May'Ol
113kH6%
7
8 ...
...
103%...
104k...
112 ....
106
108
Nov'02
Oct '02
105% Nov'03
112% 112%
12S%l29k 128% Feb '04
118
117% Mar'04
142% Feb '02
129k
131% Dec '03
129k
103
Sale
103
109
122% 123
121k
121%
103
102k
Sale
120
107
M-N
BB
lllkll2Hi
115%....
109%....
M-N
I.Ms M N
4s. .2002 M-N
2002 M N
131 Hi
127 k 130 k
01k 101k
94% Mar'04
106 k Oct '02
90% Dec 'Ob
82%
83
76
76%
83% Apr '02
104% Apr '00
106%
,
104
128
100% Feb '04
106% Sale
112%
107%
127k
116kll8
20k
18
104
Feb'()4
J'ne'99
1-
J-J
J
103
112
105
J.J
J-J
J-J
J-J
J
J
3
19
Aug'02
100% Nov'03
105k 105
,
1
109% Mar'04
103k 109%
111 111
111 Jan '04
35 114% 117
116k 117
1 113
115%
ll&k
115k
101% 102 k 132 100k 104
91k
Sale
112%112%
128 k 129
117k 118%
103
Sep
103
103
'03
121% 122 k
122
Feb'04
103
120
104
120
101
Jan
'03
98 Aug'03
99%J'ue'02
99kJ'lvHl2
1910 M-N
1915 M-N
Begistered
99% J'ne'02
Aug'03
70 k
73 12WJ
8b k J an '03
82" 922
79
87
72%
81
105
96
91
96
102
Sale
Sale
.
Hi.
.
.
104% 101%
103% 103%
104 j Jan '04
103% Jan '04
95 k Oct '03
90
98
Jan '04
106
74%
66 k
73
Mar'04
Oct 'OS
93% 98
106
106
I'njje.
99k 102
72% 75
cfc
106
A-O 108k
A-O 100k
M-N 105 k
M-N
M-S
M-N
M-S
J-D
A-O
M-N
M-N
29
19
92
104
102
103
January
Biah No Low High
32
29^ 35 28
127 128% 127 k 127 k
111% Mar'04
lllk....
100 ....
102kl04k 105 Deo '03
101 101k 101% 101k
96 k
M-N
A-O
Low
Since
an Si
J'ly'03
104%
128% 129k 128% 128%
101k.
4s. ..1904
B
Street Railway
Met St By—CCo»;Bef g 4s20()2
Col&OtllAvlstgu g 5s. 1993
2 107%10.sk
Lex Av P V 1 st g
Third Ave RBOOU gu Ls2000
100 100
Third Ave By 1st g 68. .1981
ad 100 103%
40 82
87 k MetWS El(Chlc) lst.g4s. L988
Mil El By
L 30-yr g 5s. 1920
Minn St By 1st con g 5s.. I'M 9
90
92 k St Jo By LtllcfcP 1st gOB. 937
st Paul City Cab con g 5s. 987
19
72
103k
102k
101
19115
CoU trust
18
A-O 109 110k
M-N 117 Sale
M-N *U3kll5k
M-S 102% Sale
M-S
1917 J-J
1988 J-J
1988 J-J
Begistered
General gold 4s
Begistered
MISCELLANEOUS BONDS—Continued
Street Railway
Brooklyn Bap Tr g 5s
1945
1st refund conv g 4s
2002
Bk City lstcou os.1916, 1941
Bk Q Co & 8 con gu g 6s. 94
Bklyn U11 El lstg 4-68.1960
Kings Co El l8tg48....1'M'.i
M-N
Q-M
M-S
Choc Ok
Ohio
6s 1937
1st g 5s..pl945
Consul guld 5s
1946
Cent
92
J-J
DesMo<fe Minn 1st 7s. .1907 FA
Milwcfc Madison 1st 6s. .1905 M-S
1910 M-S
North Illinois 1st 5s
Ott C F & St Paul 1 st 5s 1909 M-S
Winona & St Pet 2d 7s.. 1907 M-N
12lkl2lk
Mil L S<fc West 1st g 6a 1921 M-N
121 k 122 k
Ext <fc Imp aland g5s 1929 F-A
Ashland Div 1st g 6s.. 192S M-S
97k 99
Mich Div lstg6s
1924 J-J
Convertible deb 5s. ...1907 F-A
101%103
1911 M-N
117 117
Incomes
Chic Bock l8l cfc Pac 6s. ..1917 J-J
Carb
OedBlaFcfcN
J-J
1910 J
1908 J-J
I & D Exten 1st 7s
1919 J.J
LaCrosse & D 1st 6s
Point Div 6s.. ..1910 J-J
Mineral
1910 J-J
So Minn Div 1st 6s
1909 J-J
92% 95%
SouthwestDivlst6s
Wis & Minn Div g 5s.. ..1921 J-J
92k 93k
100 k 102%
Mil & No 1st M L 6s.. ..1910 J-D
1913 J-D
101% 101%
1st consol 6s
1915 Q-F
Chic <fc Northw cons 7s
1886-1926 F-A
87 k 89%
Extension 4s
1886-1926 F-A
Begistered
1987 M-N
92 k 97
General gold 3ks
,»1987 Q-F
87 k 89
Begistered
A-O
Sinking fund 6s. ..1879-19
1879-1929 A-O
Begistered
106 k 105 k
A-O
Sinking fund 6s.. .1879-1929
1879-1929 A-O
U9kl22
Begistered
1909 M-N
Debenture 5s
1909 M-N
Begistered
1921 A-O
Debenture 5s
1921 A-O
Begistered
1933 M-N
Sinking fund deb 5s
1933 M-N
Begistered
102 k 103%
105 k 105 k
107 Aug'03
106
J-J
J-J
J-J
118k 117
cfc
29%
A sk
Sale
J-D
1st 5s
W
93 3
109
Bid
& Ohio g 6s ser A..A1908 A-O
ol911
1st consol g 6s
1939
?ie do liar.
1939
Begistered
1992
98% 98%
General gold 4 ks
1992
Begistered
0) bo to &.
1940
Craig Valley lstg 6s
B & A Div 1st con g 4s.. 1989
1989
2d consol g4s
Warm Spr Val 1st g5s.. 1941
Greenbrier By 1st gu g 4s '40
Chic <fc Alt BB ref g 3s... 1949
JCailway 1st lien 3ks...l950
1950
Begistered
Chio B & Q— Ch & la D 5s 1905
102 102 k
1922
Denver Div 4s
1949
Illinois Div3ks
Div sink fund 6s. .1919
Iowa
1919
Sinking fund 4s
95k 96
Nebraska Extension 4s. 1927
1927
91k 92k
Begistered
1921
7
8
Southwestern Div 4s
Joint bonds See Great North
1913
Debenture 5s
Han & St Jos consol 6s. .1911
Chic<fc EHllstsf cur 68.1907
1934
1st consol g 6s
1937
General consol 1st 5s
1937
Begistered
Chic <fe Ind C By 1st 5s. 1936
92
93 k Chicago & Erie see Erie
98% 101k Chic In & Louisv ref 6s... 1947
1947
99 k 101 k
Befunding gold 5s
H7k 90
Louisv N A & Ch 1st 6s.l910
82 k 82 Hi Chic Mil & St Paul con 7s 1905
1914
87 k 90
Terminal gold 5s
General g 4s series A..«1989
«1989
Begistered
Generalg 3ks series B.el989
91
94%
Chio <6 L Su Div g 5s.. ..1921
Chio & Mo Biv Div 5s. ..1926
1910
Chic & Pac Div 6s
112% 112%
April 8
Oct
Oct
Range
Week's
Jianye or
Last Sale
Pr\ce
Fri'tav
See So Pacific Co
See Atl Coast Line
Chas&Sav
Gold 6s
93
Frankfort-on-Main 3ks ser 1.. M-S
These are price s on the ba sis oi
f g 5s of 1899 Q-J
V 8 of Mexico s
T hese are pr
State Securities
1900 J.J 102
Alabama class A 4 to 6
1900 J-J
Class B6s
1900 J-J
Class C 4s
192(1 J-J
Currency funding 4s
1924 F-A 119
Dist of Columbia 3'65s
Louisiana new consol 4s. .1914 J-J 104
Small
Missouri funding.. ..1894-1995 J-J
North Carolina consol 4s. 19 10 J-J
1919 A-O
6s
1933 J-J
8© Carolina 4 "as 20-40
96
Tenu new settlement 3s. .1913 J-J
J.J
Small
Virginia-fund debt 2-38.. .1991 J-J
93Hi.
•7k.
6s deferred Brown Bros otfs.
2
/tl987 Q-J
5a.. 1921 J-J
AmDock<fc Imp ga
Le & Hud B gen gu g 5s 1920
Leh & Wilks B Coal 5s.. 19 12
Con ext guar 4ks
j/1910
N Y & Long Br gen g 4s 1941
Ches
Foreign Government
Alabama Cent
2d pref Income g 5s
pl945
3d pref income g 5s
pl946
Chatt Div pur mon g 48.1951
Mac A Nor Div Istg 58.1946
MldGa<S> Atl Div 6s.. ..1947
Mobile Div lstg 5s
1946
Cent of N J geu'l gold 5s. 1987
Cent Paciflo
,
V
N. Y.
Begistered
111 3* Mar'04
07
105k 107k
105k 106k
106 34 108
100% Mar'04
1
STOCK EXCHANGE
January J
Week Ending April 8
Lou? Migh Central of Ga—{Continued)
J'ne'02
105
107 k!08%
107 kl08k
132 % 138%
133 133 H<
BONDS
i/e
106% 100%
106 Hi 100% Mar'04
103 107
107 k
V0.J
ii
Since
Last Sale
ASK Low
Bid
Government
U. s.
Ba
Week's
mi im
1
cfc
A-O
M-S
M-S
J-J
J-J
F-A
89
nek iYf
90k
1
F-A
J-J
90k
105
94
106
110
Feb'04
Oct '99
J'ne'02
S9k 92%
1
115kMar'iM
111 ....
114 Mar'ol
94 k 94k 94k
94%
117 lie 117 Mai'i
1
1
B
III
80
%
1
l'J
1)6%
94% 95%
116
94
117
95
Conn By <t L 1st cfc rof g4ks'51
90
M-N *100
90
93
91
Den Con Tr Co 1st g 5s. ..1933
95 J'ne'00
J-J
109 k Apr'03
Den Tram Co con g Os.,1910
109 k Dec '99
Union El (Chic) 1st g 6s.. P.M. A-O
Met By Co 1st gu g 6s.. 1911
BBs Sau Frsf 43.1927 A-O 77 k Sale 77k
United
47 75 k 80
78
Dot fit 8t By lstcou g 68.1905
103 Nov'01
United Bys St L. 1st g 4s. L984 J-J
81
81
81
81k 81
Gr Bapids By 1st g6s...al91
99 Dec'97
W Chic St 40-yr cons g 5S.1986 M-N
Louis By Co lstcou g6s.. B3I
100
Mar'98
Market St C Hy lstg 6s. .1913
Gas and Electric Light
Met St By gen col tr g 6s.l99 F-A 113%.Sale 113
113% 16 112k 115% Atlanta G L Co 1st g 5s... 1947 J-D
B way 7 th Av 1st eg 5s 194:; J-D 114k
114 Mar'04
Bklyn U Gas 1st con g 5s. 1945 M-N 114
11 112% 114>
113k 114
112k 114
"No price Friday; huea*>»rioe thia week, a Due Jan d Due Ape e Due May j/Due.J'ne A Due ,riy A: Due Aug oDue Oot p Due Not #Option sal* j
1
1
1
cfc
4
Apr.
J
—Continued— Page
Bond Record
9, 1904.]
BONDS
v.
Price
Weeic's
Raui/e or
Last Sale
Sines
Bid
Ask Low
Chic&StL SeeAtcliT&.SaFtChic St L & N O See 111 Cent
Chic St L & Pitts See Penn (o
Chic 3t P M
O con 0s...l930 J-D 132 Hi Sale 131
<fe
Cons 6s reduced
to 3 H<8.193o
Alinu lstg 6s 1918
Nor Wisconsin 1st 68. ..1930
St P & SCity lstg 88.. .1919
Chicago Ter Trans g 4s. ..1947
1
Chiccfe West Ind gen k 6s 7 '.'.;•_
Mich See Pere M a rq
Chic &
st
P
<fc
W
Choc O & Gulf
J -J
A-0
120>4
J-D
lOOOgSale
98 Hi 101
99
101 Hi 102
101
91 100
93
104
WW
CCC&I
W
W
.
Colum
<6
Greenv St* So Ry
J-J
T
J
M-N
Q-F
*
Q-F
J-D
J-D
<$>
1
S3^
78
110
111*4
lOOHi
Hi
1915
1915
2000
N Y Lack & 1st 6s... 1921
Construction 5s
1923
Term & improve 4s
1923
Syr Bing & N Y 1st 7s. .1906
Warren 1st ret gu g 3 His 2000
Del & Hud 1st Pa Div 7s. 1917
Registered
1917
Alb & Sus 1st con gu 7a.l906
Registered
1906
Guar gold 6a
1906
Registered
1906
Reus & Saratoga 1st 78.1921
1921
Registered
Del Riv RR Bridge See Pa RR
Denv& R Grist cong4a. 1936
Consol gold 4Has
1936
Registered
latref gugSHis
W
.
102
99
102
102 Hi
18
95»8l01
ai
98
99 34
99
Feb '04
'
Jan '04
Dec '02
98
1()2'4
....
105 105
100*2101*2
UOHiMar'ol
....
llOHillOHi
JUy'03
Mar'04
99
103
95
....
Apr
A-O
109'<
J-J
115Hi
116
»
FA
95
65
Sale
61
59
85
60*4
60*4
86
85 Hi
1095a
129 hi
131
J-D
J-D
J-D
95
Hi
60
86
4
1120b Jan *04
8
128
128
MS
M-S
A-0
105*8
ib'5*4
A-O
A-0
A-0
M-N
M-N
9S
60
65
112Hill2Hi
2
141*8
140
98*4 Sale
*
9734
98*4
107 106 38 May'03
104 34 IO434 IO434
96 Sale
96
96 Hi
85 Mar'04
79*a 36
88
97 Jan '02
85
Jan '04
111
J-D
J-D
J-D
93
M-S
79
80
Dul& Iron Range 1st 5s. .1937 A-O 109
Registered
1937 A-O
2d 6s
1916 J-J
Dul So Shore & Atl g 5a.. 1937 J-J 109 Hj
L/astof Minn See St P Al & M
Hiast Ten Va & Ga See So Ry
Elgin Jol & East 1st g 5s. 1941 M-N 11434
Elm Cort <fc No SeeLeh&NY
Erie 1st est gold 4s
1947 M-N
2d ext gold 6s
1919 Al-S 112*8
3d ext gold 4 His
1923 M-S 107
gold 5s
4th ext
1920 A-O 110
5th ext gold 4s
1928 J-D 100
let consol gold 7s
1920 M-S 131*4
*st consol g fund 7s
1920 M-S
Erie 1st con g 4s prior.. 1996 J-J
97 Hi
Registered
1990 J-J
1st consol gen lien g 4s. .1996 J-J
86
Registered
1990 J-J
Penn coll tr g 48
1951
89 s4
ButtN Y<6 Erie 1st 7s. .1910 J-D 125
Bull & S
gold 6s
1908 J-J *104
Chic & Erie 1st gold 5s. .1982 M-N 118
Jeff RR 1st gu g 5s....al909 A-0
99H2
Long Dock consol g 6s.. 1935 A-O 130
Coal & RR 1st cur gu 6s. 1922 M-N 117 Hi
Dock & Imp 1st cur 6s. .1913 J-J 112Hi
FA
56
84
63*4
89*2
....
11238ll2»8
129*4 129*2
1303s 131*4
"5
127
129*4
111*4 114*2
100*4 100*4
109'8 109Te
133 34 137*4
3 105*8 108
....
114
May'03
1123s 1123b
108*4 110 34 Feb'04
114 Mar'04
101 78 J'ne'08
131 H,
131*4
130
Sale
Sale
Sale
131*4
Aug'03
97*2
97 8
98*a Jan '04
85*2
86
8534 Feb'04
8934
8934
125Hi J'ne'03
11838 118*4
H83b
106 Aug'02
130
Sale 130
118
118
113HiNov'03
109
108 Hi Jan '04
llOHl Mar'04
98 Hi
99 Nov'03
100 102*2 104 Jan '04
113*2 Jan '04
113Hi
108
l 5s
Mar'04
108*2 108*2 Mar'04
11
-S'ee
P G & C Co
A-O
61
1923 J-J
5s. ..1918 F-A
97*4 Sate
111
111
y 1st con g 5s.. 1932 M-S
Fuel See P G & C Co
Eq G
Gae& Elec Berg Co c gas. 1949 J-D
Gen Electric deb g 3His..l94 F-A
Gr Rap G L Co 1st g 5s.. .1915 F-A
Hudson Co Gas 1st g 5s. .1949
Kings Co El L & P g 5a.. .193
Purchase money 6s
199
Ed El HBkn 1st cong 4s 1939
LaoGasLofStLlstg58.el919
Milwaukee Gas L 1st 4s. .192
*
111
—
113*2113*2
....
s
111 lll 8
IO6H1IO8H1
Registered
Extended IstgSHia
1st gold 338terling
65
65
97*4
97*2
J'ne'03
96
97 34
93*4
Nov'03
88
104
88*2
105*2
117*3 119
119
93*4 May'03
106*3 106 34
Q-F 106*2 106 34
M-N * 89
90
90
90
No prioe Friday; latest bid and asked this week. aDueJan
106
106
74
101 'il03*»
114
101 Hi
100
97
A-0
M-S
3
A-0 10l 4
A-0
M-N 103
M-N 101
J-D 103 106V
J-J
J-J
92
103*2
12 102
103Hl
105»8
23 103Hil05»4
6
J'ne'03
114 Oct '03
113HiAlar'00
99 Hi Oct '03
94 Mar'03
99*4 Oct
'Oi
103 Nov'03
102 Oct '01
103 Mar'04,
101
101
106*2 Mar'03
95 Feb'04
102
101
103
101
93*4
95
80
85*a
93
93
94Hi
'
FA
90' 9
943,
93*4
103*4
100
201
90
943*,
92 34
106 Hi 105*a
99 Hi.
J-J
J-J
J-J
110 ....
82 Hi....
J-J
J-J
J-J
J-J
J-J
123 AIay'9
85 Hi Alar'04
95
93
93
101*8 Oct '99
100 Nov'00
106 34 Mar'04
106 3« 106 34
124*2
124*2 124*3
91Hi
105
F-A
FA
126
J-D
M-S
J-D 121
J-D 120
92*2.
J-D
J-D
Memph Div 1st g 4s. ..1951 J-D 102*4
Regiatered
1951 J-D
1931 M-S
St L Sou 1st gu g 4s
Ind Bl & West See C C C & St L
Ind Dec &
let g 5s
1935 J-J 106*2
.
IO6H1
J-J
J-J
118
119 a4
98*s
98*8
87
98*8
102*4
Dec '03
101
Mar'02
106
Mar'04
Dec '02
98 Hi 101*4 101
119
119
M-N
98*2 Sale
AI-S
M-S
J-D 110
M-S
124H2
90 Nov'98
119 Nov'OL
119 34 Mar'04
107*2
.
Kan C &
See M K & T
Kan City Sou lat gold 3s. .1950 A-0
Registered
1950 A-0
Kentucky Cent see L & N
Keok & Des AIo See C R I & P
Knoxville & Ohio See So Ry
Lake
70
98*2
70
Feb'04
Mar'04
98»t
106
106
8
'J
99 101
118»8 119*8
97 100
Nov'03
110*4
110*4 110*4
87*2 89 Feb'04
Erie
<fc
105
87*2
b
69 58 Sale
W lstg 5s. .1937
118
J-J
1941 J-J
2d gold 5s
109*sll2
89
89
Unified gold 48
Coll trust gold 5s
E
H<fc
Nash lstg
68
194U
1940
1931
1919
107
90
107
102*2
lllHi
J-J
A-O
A-O
119
UlHill2
110HiFeb'02
106 Mar 04
-
Hi
10434 106
105 105
Jan '04
109 Hi Oct '99
107 Jan '04
94 Dec'03
II6H1 118
107
107
100
101
10034
101*3
Mar'03
Jan '03
....
100
Feb'04
100 Oct '00
9678
97
Sale
111 Jan '02
100
100
100*2 101
96 7s 99*8
105*4 Mar'03
112
Mar'02
112*2 Jan
'0
112HiApr'02
II514II6
II6H1 1153a 115»8
110*2 Dec'03
....
99*2
99*4 99*2 98 78
99*2 173 98
J-J
J-J
100
M-N 112
J-D 113
110
114Hi 113
....
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'02
Mar'04
Nov'03
i'09"
iio"
on Next Page.
Gaa and Electric Light
Mnt Fuel Gaa Co See Peop Gas
N ewark Cons Gas con g 6b 1 948 J-D 107 ...*...
N Y G E L H & P g 5s. ..1948 J-D 107*4 Safe 107*4
Purchase money g 4s. ..1949 F-A
90 58 Sale
90*3
Ed El 111 1st conv g 5s. .1910 M-S 103*8 Sale 103
114
1995 J-J
2d guar gold 6s
1st con gold 6a
Refunding gold 5a
1904
1943
1947
Cke 1st gu g 5s 1937
'
101
97
IOIHi
101*2
J-D
A-0
M-S
121
103
115*4
101
100
107*4
91
103 "e
H5'4
7 107
47
Mu Fuel Gas 1st gug 58.1947
Syracuse Lighting 1st g 5a. '51
Trenton G
El 1st g 5s. .1949
Af-N
7
5 115*4
J-D
M-S
103*2
U5*4
100*2 102
Mar'OlJ
100
100
loiHiJ'iy'o:;
]00HjDec'03
123 34 Mar'04
104 Feb'04
102 4 105
•
108»4
9334
90
102 H> 105 '4
Feb'04
118 34l-4
104 104
106Hll07 34
104 106 Hi
Ch G-L &
J-J 107 108*4 107 34 Mar't)4
Con G Coof Ch 1st gug 5s. '36 J-D 104*al07 106*2 Alar'04
101 Mar'04
Eq G & F Ch 1st gu g 68.1905 J-J
102
<fe
70<*,
Feb'04
100
115
97
68
113=8 J'ne'03
M-S
M-S
A-O
A-O
Q-J
Q-J
J-D
31
115*2 119
110*2 112
105
108*2.
J-J
119
112
107*4 108
106
68 34
69=8
63 Oct '00
112*2 Mar'04
119
112*2
109*2
North Ohio 1st gug 5s. .1945 A-O
L Sho & Mich S See N Y Cent
Lehigh Val (Pa) coll g 5s. 1997 M-N
Leh Val N Y lat gu g 4*28.1940 J-J
NY&QE1 L&P 1st con g5sl930 F-A
N Y & Rich Gas 1st g 5a. 1921 M-N
Peo Gas & C 1st gu g 6s.. 1904 M-N
88 Feb'04
107 34 Dec '00
104 34 Mar'04
M-N iSShl'.
A-O
A-O 119 bate 119
J-J
..1952
1953
1953
Registered
1950
Cairo Bridge gold 4a
LouiavilleDiv gold 3His. 1953
Registered
1953
1921
Middle Divreg5s
1951
St Louis Div gold 3s
Regiatered
1951
1951
Gold 3*28
Registered
1951
Spring Div 1st g 3*28. ..1951
Western Lines 1st g 4s. .1951
Regiatered
1951
1923
Bellev & Car 1st 6s
Carb & Shaw 1st g 4s... 1932
Chic St L & N O g 5s. ..1951
Regiatered
1951
1951
Gold 3*28
Regi8tered
1951
BONDS—Coutinued
61*2 Oct '01
85*4.
101
Col& H V Istextg4s..l948 A-O
Tex See So Pac
Houst E &
Houst & Tex Cen See So Pac Co
1951
1951
1951
1951
1951
1952
933.,
9234
M-S
J-D
M-S
97
J-D
M-S
M-S
N YB<feAIBlstcong5sl93b A-O
N. Y & R B 1st g 5s
1927 M-S
IO8H3IO8H1
NorSliB 1st conggu58ol932 Q-J
109 Hi 110 H2
Louisv &, Nasliv gen g 6s. 1930 J-D 116
Gold 5s
103*4 104
1937 M-N 113
Feb'04
112
94*4 Sale
J.J
teNYNE&H
1st consol gold 5s
EqG LN
71
102HiMar'04
O
1940
Leh V Ter Ry 1st gu g 5s. 1941
Registered
1941
2 114*2 115
Leh V Coal Co 1st gu g 5s. 1933
Leh&N X 1st guar g 4s. .1945
Registered
1945
1 11238112*2
E1C&N 1st g 1st pf 68.1914
UOHilll
Gold guar 5s
1914
114 U4H2
Leh & Hud R See Cent of N J
10 131*sl35*8 Leh & Wilkes b &ee Cent of N J
Leroy & Caney Val See Mo P
51 96Hi 98Hi Long Dock See Erie
98 Hi 98 Hi Long Island
"24 84
1st consol g 5s
/il931
8634
1st consol gold 4s
/1.1931
85 34 85 34
General gold 4s
1938
"l2 88 34 93*2
Ferry gold4Hi3
1922
Gold la
1932
3
Uniiied gold 4s
1949
4 117Hill8 4
Debenture gold 5s
1934
Bklyn& Mont lstg 6s.. 1911
132
1 130
lst5s
1911
3 113*2118
65
105
l<)2»4
73
KC&MR&B
Pacific
& c Co
EdElIUBkn A'eeKCoEL&P
Ed Kill Seeii YG&ELH&P
<fc
65
101
106
M
[V11SCELLANEOL.S
Con Gas Co See P G
Detroit City Gas g 5s
Det Gas Co con 1st g
116
103Hi
lfar'98
73*4
onsatonic
Hock Val letconsol g 4 Hia.1999 J-J
Registered
1999 J-J
Registered
108 34
<fc
1935
1950
&
Int& GreatNor Istg6s..l919
2d gold 5s
1909
3d gold 4s
1921
41 9634 98*2
Iowa Central 1st gold 5s. .1938
Refunding g4e
1951
1 103
104*4
Jefferson RR See Erie
16 94
97
S
83*a 85*2 Kal A <fe G R See L S <fe
an & Mich See Tol & O C
K C Ft S <fe Al See St L & S F
/SeeStL&SF
....
35
36
Uas and
Ch G L & C Co
See Ches
1st guar gold 5s
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la 1st g 4s
Jan '04
114H2
103
nl
105
106
73
Soie
1921 Q-J
Registered
114*a
11(1
Aim
Dec'03
W
106
106
Feb'01
111
W
Electric Light
Buffalo Gas lstg 5a
1947
Ry
LN O&Tex gold 4s
93 Dec '03
94
94
4 93«8 94
75 Hi Aug'03
79 H2 Mar'04 ""5 79*3 84
112
112
110*8112*2
95
96Hi
1
J'ne'02
107
Gulf&SIlstref &tg5s i»1952 J-J
Han & St Jo See C B & Q
(joUTruat gold 4a
Registered
116
56
105 *s
122 J'ne'99
106 Mar'04
11138 Peb'02
143»4 Nov'02
147 Hi J'ne'02
103^
J.J
J-J
.
<fe
95
116
129 K, Feb'04
1S1*4 Mar'04
140 Oct '98
129 14 Mar'04
113*4114*2 112*4 H2Hi
101 34
100*4 Jan '04
107
1097, Feb'04
102 Feb'03
134
13334 Mar'04
149 Aug'01
P-A
M-N
A-O
P-A
Terminallst gold 5s. . 1943 M-N
Regis $5,000 each.. .1943 M-N
MidRRof N J lstg68.1910 A-0
Wilk<fc Ealatgug5s.l942 J-D
& Ala See Sea A Line
Ga Car & Nor ire Sea A Line
Georgia Pacino Set So Ry
Gila V G & Nor See So Pac Co
Gouv & Oawegat See N Y Cent
<; rami Rap & Ind »S««PennRR
Gray's Pt Term See St L S W
Gt Nor— C B Q coll tr 4s 1921
Registered
Feb'04
1291*
J-J
N Y & Green L gu g 5s. 1946 M-N
N Y Sus & W 1st ref 5s. 1937 J-J
2d gold 4 His
1937 FA
General gold 5s
1940 FA
W
since
January
Mar'04
Hi
106
Bla C <fc Penin See Sea Air Line
Fort St U D Co 1st e 4His.l941 J J
<fc Den C 1st g6a....l921 J-D
Ft
RioGr 1st g 4s. ..1928 J-J
Ft
Range
High No Low Haiti
105'4.
M
&
illinois Central 1st g 4s. .1951 J-J
Mar'04
112HiFeb'04
Hi
.
Sull Co lirauch 1st g 5s. 1930 A-O
liv.t Ind 1st con gug6s..l926 J-J
1'
<ic St
So See Cli
I.'argo
.See Pere Afar
lintiVr l'cro.M
1st gold 3His
A-0
116
103
112
:oo
97 Hi.
W
104HiNov'01
59
117*2
«-,
Bangs or
Ask Low
Riil
& T H 1st cons 6s. 1921 J-J
1942 A-0
lstgeneral golil 5s
Mt Vernoii 1st gold 6s.. 1923 A-0
Greenbrier
B4"s Aug'03
W
Det & Alack 1st lien g 48.1995
Gold 4a
1995
Det Sou lstg 4s
1951
Ohio Sou Div 1st g 4a. ..1941
Penn Co
Registered./!
99
1U5 Jan '04
101*2 101*2 Mar'04
128
Q-J
Improvement gold 5s. ..1928 J-D
Rio Gr West 1st g 4s
1939 J-J
Consol and col trust 4s 1949 A-0
Cent 1st gu g4s al917 A-0
Utah
Rio Gr So gu See Rio Gr So
Den & S West gen 8 1 g 5s 1929 J-D
Des Moi & Ft D See C R & I P
Des M <fc Minn See Ch & N
DesAloiUn Ry 1st g 5s. .1917 M-N
Det M & Tol See L S & M So
See
Pitts
Week's
Last Sale
Qeorgia
<fc
1st consol guar 7s
<&
SaeSoPaoCo
V7ji1H& Hoi 1882 1st 58.1913 A-0
101
Oct '02
98
130
J-J
Erie
WA
/ialllar<feSA
Oct '00
Dec'o3
*127
& Hock Val See Hock Val
Conn Term See N W
Conn & Pas Rivs 1st g 48.1943 A-0
Dak&GtSo SeeOM&StP
alias <& Waco see M K & T
Del Lack & Western 7s.. .1907 MS
Morris & Essex 1st 7s... 191 M-N
Col
Col
L29 34 L29 34
"ai 120 122
20
120
A-0
J-J
Jliyli
ISO** iis'i"
80''4
101
111*3
J-J
J J
Hi
.
1
41 130*2 133
Deo 'OS
122
LIS
Price
friday
April 8
stock exchange
Week ending April 8
Kvans
133
111 1*
113
J379
n. y.
104 Hi Deo '03
112
M-N
M-N
M-S
No Low
80 '4
J-
M-X
J-J
January
111*4
*10234
BR*P
W
82
111*4 Sale
Q-M
. .
M
120
80
J-J
Jliyli
131
Feb'04
L29»« Mai-(M
129 34
SeeCRI&P
Cln H & D consol s f 7s. 1905
1937
2d gold 4 His
Cin D & I 1st gu g 5s... 1911
St L <fc C Se« C C G <fc St L
C I
Cin S & C See CCCSth
Oleartield <fe Ai ah See
Clev Cin C & St L gen g 4s 1993
1939
Cairo Div 1st gold 4s
Cln
A Div lstg 48.1991
St L Dlv 1st col tr g 4s.. 1990
1990
Registered
Spr«fc ColDiv 1st g 4s.. 1940
Val Div 1st g4s... 1940
O 1 St Li & C cousol 6s.. 1920
£1936
1st gold 4s
fcl930
Registered
Cln S& CI con 1st g 5s. .1928
consol7s
1914
1914
Consol sink fund 7s
General consol gold 6s. 1934
Registered
1934
Ind Bl <fe
1st pref 48.1940
1st pf 5a...dl938
O Ind <fe
Peo & East 1st con 4s. .1940
1990
Income 4s
CI Lor & Wh con 1st g 58.1933
Clev <fc Marietta See Pen n RR
Clev & Alahon Val g 5s... 1938
Clev & Pitta See Penn Co
1947
Col Midland 1st g 4s
Colorado & Sou 1st g 4s... 1929
93
J-D
M-N
S
2
BONDS
Ramie
Friday
April 8
5
STOCK EXCHANGE
5i
Week Ending aphil 8
N. Y.
Cli
—
1
'
109
101
105
Mar'04
101 34
105
F«b'01
Due Feb dDueApr eDueMay ADueJ'ly fcDueAug #DueOct jDueDeo
«
Optioa
*"»*•
1
4
»
Bond Record
1380
BONUS
Louisv
Xashv—(Continual
ifc
104%
125
110
Pensacola Div told 6s.. .1920
192]
St L Div 1st gold 6a
1980
2d gold 3a
Hender Bdge let at g 6a. 1931
Kentucky Cent gold 4a.. 1987
L<fc N .fc M A
lat g44a 194 B
N.south M joint 48.1952
Registered
1952
N Fla& S 1st K" g 58...1937
Pens cfc Atl 1st gu g 6s.. 1921
S cfc N Ala con gu g 58. .1936
1910
Sink fund gold 6s
L & Jeff Bdge Co gu g 4s.. 1945
NA
Mahon
Cli
cfc
-See
&L
LS*MS
C
105
984
N
V
See
Y Cent
Metropolitan El See -Man Ry
Mex Cent consol gold 4s.. 1911
1st consol income g 3s.al939
2d consol income g 3s..ol939
1917
Equip cfc coll gold 5s
1919
2d series gold 5s
Coll tr g 4 4s 1st Ser. ...1907
McK'pt cfc B
102%
NJ
-See
Mad
-See
Mid ot
Mil
Mil
cfc
cfc
Minn
Erie
See Chic
Chic
North See Ch
L
St
112
112
.
11
J.J
108*2.
102 »4
103T8 Dec '02
108 a4 109 4
J-D
J-J
J'ly
J'ly
66
Sale
134 Sale
8*2
83a
644
184
6)
64
12 34
7
130*
8
94 34
954 30
90 s8J'ly'01
95 4.
91
May'00
105
& ret
M
Essex
-See
Del
L
cfc
M-N
M-S
99% sale
794 Sale
102 >a bale
J-J
A-0
A-0
MN
99 4
774
nl g 3
86
105%
924 94
102 4 Sale
110 113
113 Sale
88*9 Sale
9 2 ^ sale
102
S83-,
1064111
1064
99
100
101 34
108
107410738
121»* 132 11838l21 34
1204
1054
105 4
105 4 Mar'04
92 4
924
100 May'01
102 4 1024
109 4 Mar'04
112*8
113
10934 Oct 'OS
87 4
88 \
914
4fr
104
107
103 34 107 V
914 93
1024
1094109 4
101
22
11141154
84
91
924
884
924
11141114
14 Mar'04
91 Feb '04
J-J
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J-J
J-D
1244
1184
123 a
Q-J
M-S
F-A
111
Q-F
87
92
J-J
93
114
92
91
4Dec'03
Jan '04
Jan '04
114 Jan '04
130
91
91
130
94
114
88 4 Mar'04
122>4.
1224
110
115
113
Mar'04
Dec 'Oil
Sep
100
108
113
Salo
113
1164
113 34
•1044.
103
115 4
11641174
113
1164
1144
1044
Jan
113
'02
104 1044
102 34 104 3*
101 101
1044
102 34 103
101 Mar'04
.
NY&NENew Hav Hart—
SeeNYNH&H
New York
Housatonic
R
124
NY&NE
cfc
131 34 Apr'03
101%.
100%.
con g 5s. .1937
N H cfc Derby con g 5s. .1918
1st 7s
1905
1st 63
1905
Nor
cfc
Norf
1064May'03
i
1224
120
112
1004101
1004
74
Feb '04
744
South 1st g5s
100 34
100
43 73
'04
115
N
W
.
10041014 100
WW
StP&NP
gen g
14 1014
9U4Nov'02
10
89% Sale 88*4
864
86 78
87
88 4 87 4
91
105% 106
89 4
87'-.
88
1204.
Jan
1
Mar'04
102
98
102%
10041004
100%
Nov'00
Mar'04
DO
105
97
111.',
Series
Series
Series
Series
Pitts Ft
90
87 4
85 4 90
1054
99
714
71
72
1024.
1024.
97
74
72
115
107
102
97
Mar'04
70
7'.
J'ne'02
May'97
4 Oct
.1
L064
-I
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lo.,
'03
I'eiroj
Oct 'oo
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.1
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100
103
102
B guar
D 4s guar
E 3 4 guar
W
cfc
111:,
.1
1
1
.1
Friday; latest bid and asked thla week,
Telep
o Due Jan
Tel
101
lat g 4s. .2397
2897
1
. 1
h
g 4 4-s... 1960 M-N
Tel s Iund 6s. ..1911 M-N
Tel gu f 4 4s g.. 1934 J-J
real est
loi"
674 73
Due Fob
Am
Am
Am
Am
e
Industrial
Cot Oil ext 44s
1916 Q-F
Hideifc L 1st s g 6s. .1919 M-S
Spirits Mfg 1st g 6a. .1916 M-S
Thread 1st col tr 4s... 1919 J-J
niiliic
I
ii
98%
1H4
Feb '04
117
105 4108
9834
109 4110
109 34
4 Jan '04
92
127% Oct
121 Mar'04
130 Apr'01
107 4 Mar'04
.
10141014
91
92
121
121
'02
104 4 i 07
964 Apr'03
l()04Apr'02
1004 Oct '00
109 Oct '99
110 34 Nov'03
1929 J-J
coll tr 4s
cfc
<1 :i
10
96
und Telephone
Registered
lot
96
110
116 4 Eeb'01
1014.
84
cfc
1014103
6
&
95% 96
Mar'04
Mar'04
110
89 4.
120
19 19
109
108
1064 10S4
Next Page
011
Comni Cable Co
99
,
1912
Northw
1004
n
96 Jan '04
102 Nov'00
9S 34
98 34
,
110
110
1st 7s... 19 12
1094
IS 105
1084 Aug'03
794 Erie T T col tr g s 5s. 926
19 IS M-N 111%
T 1st s f"g6a
73 4 Met T
Mut UnTelCo See Weatn Un
N Y cfc N J Tel gen g 5S..1920 M-N 1074
No Westn Teleg .sec West Un
.Vest Union col tr our 68.1938 J-J
1074
I
102 4
71 4 Sale
C
109 >4
102 Apr'03
102 Apr'02
108 4 108 3 108% Mar'04
105 1074 1084 Mar'04
87 .... 102 Nov'98
92
93
924 Deo'03
964 ....
95% Mar'04
115 34 118 118 Dec '03
94
94
RR
Fd ami
102
113
100
111 34
95
93
1942
1942
1945
C guar
108 34
Sale
113
/(1912
1st real est g 48. 1923
Penn
1905
Consol sterling g 6s
Con currency 6s reK..-</1905
J'iy''il3
i
1094
!
3d 7s
Mut Un
104 Mar'04
101 4 Jan ii
102
1014 103
71
714
32 Jan '00
111
108 4 J'ly '02
1st u 4 4s. 1921
2d7a
Am
105
95 4
69
107 34 1084
1144May'03
NcfcCBdgegengu g 4 4s 1945
P C C cfc St I, gu 1 4s A. 1940
10041014
112
J
12241224
964 Nov'03
94 4 Feb '02
112 4 Mar'04
84
W
TuluKvn-l>h
J
994 1004
1084 Jan '04
1124
. .
104
102
4 99
874 90%
132 J'ly '99
112 4 J'ly '03
964100
CI cfc Pgen gug 4 4s ser A. '42
Series B
1942
Series C 3 4s
1948
Series D3 4s
I960
Erie cfc Pitts gug 3 4s B.1940
Series C
1940
'03
1054 Mar'O
96
1224 Mar'04
104 34
1921
Guar 343 coll trust reg.1937
Guar34scoll tr ser B...1941
Tr Co certif's gu g 3 4s. 1916
C St L cfc P 1st con g 68.1982
Registered
1932
100
86
86
1264 129
1004
108
6s.. ..1923
Registered
IO034 10()78
100 4 Mar'04
10()f' Mar'04
B
99 Dec '02
111 34
102% Sale 102 34 103 202 1014103 3*
102 4 Mar'04
101 1024
724 Sale 7178
72% 46 704 73
69
70 4 Feb '04
68% 70 4
974
97% Jan '04
97% 97%
Pac Coast Co 1st g 5s Mo l';,,6 J-D
Pac
ac of Missouri See
Panama 1st s mud g44s.. 1917
fund subsidy g 6s. .1910
Sink
984
KIO',
1004
1014 Sale
9tr>4
HI
102
Registered certlflo'a..l923
St Paul <fc Dul 1st 5s
1931
2d 5s
1917
1st consol gold 4s
1968
Wash Cent 1st g 4s
1 948
Nor Pac Ter Co lat g 6s. .193
Nor Ry Cal See So Pac
7034
1004
1004
1004
1004103 4
CB&Qcolltr48 SeeGtNor
101
98
loo
100%
17
*11134 1124 111 34 Mar'04
127 ....
130 Aug'03
123 1264 127 Nov'03
1234127 1264 127
97 4 Sale
97
974
96 4 Sep '03
"964 Sale 90
904
104
1074J'ly'01
1941
1931
We8tgeng63
Penn Co— Guar
984
Jan
98
101
Dec '03
100
Improvem'tcfc extgOs.,1934
River lstg 6a
1932
cfc
Ry 1st con g 48.1996
Registered
1996
Pocah C cfc C Joint 4s. 1 941
C C cfc T 1st gug 5s
1922
ScioVcfcNEl8tgug4s 1989
North Illinois See Chi cfc N
North Ohio See L Erie cfc
Nor Pac— Prior lien g 4s. .1997
Registered
1997
General lien gold 3s
a2047
Registered
a2047
St Paul-Dul Div g 4s
1996
Registered
1990
1074.
984 98^ 98
'03
Oswego Rome See NYC
1284 O C F cfc St P See C cfc N
1U Deo '99
101
7334
Sep
101
cfc
cfc
New
I
•Nopnoe
97
'03
M
J'ly '02
.
.1
( 1
97
Mar'04
97
SeeCCC&StL
Olnd&W RR 1st g 58.1936
hio River
984Nov'03
116
l
1
122
cfc
cfc
1
i
122
1064Nov'00
964 97
General gold os
1937
Ore cfc Cal See So Pac Co
Ore RR cfc Nav See Un Pao
Ore Short Luie See Un Pao
1'
<
....
1034107
130
94
114
Nor Wis See C St P
&O
884 88 4 Nor cfc Mont see N Y Cent
4s 61961 A-0
i
118
11241124
cfc
11
Col
D gold Us... 1919 M N
Col K .t Co gen s a ;,.s.. mi;; F A
Convertible deb x os. ..1911 F A
Trust Curtis
<lr Ki\ Coal (ft
1st g6s.. 1919 A
Jet) A !1< at C &
1st g 68.1926 J D
2d gold 6a
1926 J D
Ran <ft n C & <: 1st a fg5a.l96]
Pleas Val Coal 1st ge 5a.l928
pur in 5s. 19 16 M \
Ten ii Coal gen 6a
J
Div 1st g 6a
11
((191 7 A
Mirm Div 1st consol 68.. I'M, J
Can <; M !o st, gn g 6s. 1992
c
De BarC .v, Co im g 68.1910 F A
Va I ron Coa tfe
M s
at g 58.1949
V/h L E cfc 1' C Co 1 si \i i,H. 1919 J
<
4
Nov'03
112 4 Jan '04
122 Jan '04
127 J'ne'02
110 Dec'01
—
N Y Greenw Lake See Erie
N Y & Har See N Y C Hud
N Y Lack W See D L VT
N Y L E W See Erie
NY&LongBr See Cent of N J
ItllSCKIXANEOUS BONOS— Continued
1
99
<fc
W
Coal 11 ml iron
Col c .fc l Dev Co gn g 5s.l909
984
Jan '03
1184-
g 34s
cfc
102
100 88
103 Mar'04
109% 1073g Mar'04
.
1
121
139
10938....
1st consol 68.1909
5s
1931
Registered
1931
4s
1940
cfc
100 4
82 Mar'04
102 Jan '04
86 Mar'04
111
82
cfc .Man lich
See L 1
Riv g 3 4s. 99 J-J
Cent cfc
Registered
L997 J-J
Debenture 5s of.. .1884.1904 M-S
Registered
1884-1904 M-S
Regist deb 5s of . . 1 889- 1 904 M-S
Debenture g 4s. ...1890-1905 J-D
Registered
1890-1905 J-D
Debt certs oxt g 4s
1905 M-N
Registered
1006 M-N
Lake Shore coll g 34s... 199s F-A
Registered
1998 F-A
Mich Cent coll g34s
L998 F-A
Registered
1998 F-A
Beech Creek lstgu g 4s. 1936 J-J
Registered
1936 J-J
2d gu gold 6a
1986 J-J
Beech Or Ext
100%
98
Feb'O'.
1264....
118 ....
116 ....
N Y North See N Y C H
N Y O W ref 1st g 4s. .{71992
Regis $5,000 only
t/1992
9641004 N Y Put See N Y C H
N Y R B See Long Island
754 81
98410256 N Y S & W See Erie
N Y Tex M See So Pac Co
80
82
M-S
1
1
106 34 109
1064108%
cfc
1004 104
794 39
102 <V 150
1064
100% Sale 100=8
J-J
New & Cin Bilge See PenuCo
N O N E prior lieu g Us 91 S A-0
H
(3
10
80
994
114
1184..-
Mich Cent
1st
99«b
99 v,Dec'03
994 994
'~98h
<fc
L& S
984
1044...1184...-
McK Y 1st gu 68.1932
2d guar 6s
1934
McKees&BV lstg 6s 1918
114'2ll54
96
98
Nov'01
103
Nash Bloi A Shel see L & N
Natof Mex prior lien 44s. 1926 J-J
1st consol 4s
1951 A-O
New H del) SeeN YNHcfc 11
N J Juno RR See N Y Cent
N Y
107 34 i"07 34"i'08"
107
1064 107
:,
KaA.fcGRlstguc58.1938
Mahon C'l RR 1st 5s.. 1934
Pitts
cfc
108
121 4 Sale
105 4 Sale
FA
'02
Apr '01
98
M-N
M-N
M-S
M-S
P-A
F-A
Jan
121
Jasper Branch 1st >?6s..l9'2
McM M Wtft Al 1st 6s. .191
Tcfc P Branch 1st 6s. ...191
N Y Bkln
1074J'ly'00
105 Oct '02
105 4 Nov'01
98 4 994
1997
Debenture g 4s
1928
DetMou&Tol 1st 7s. 1906
1940
1951
1st g34s
714
1952
34
Bat C cfc Stur Istgng3s.l989
16
3
9 4
N Y & Harlem g 34s.. .2000
Registered
2000
N Y cfc North lstg 5s. ..1927
R W<fcOconlstext5a./il922
974
Oswe & R 2d gu g 5s...el915
R W<fc O T R 1st gu g 5s. 1918
Utica cfc Blk Riv gug4s. 1922
N Y Chic & St L 1st g 4s. 1937
Registered
1937
12041204
1204Feb'04
86
88
105 4
St List 73.1913 J-J
192s A-0
1st consol gold 6a
//
Jluin.
cfc
114 4 Feb '04
96 Mar'O 1
114%.
954.
F-A
A-O
M-S
J-D
cfc
cfc
1
cfc
142 Deo '03
1123s Dec'03
Mai SeeN i'C&H
Monongahola Riv See B & O
Mont Cent See St P M & M
Morgan's La cfc T -See S P Co
cfc
Lake Shore gold 3 4s
115
115
<fc
Nash Chat
High No Low
107
2861
1997
cfc
gold 4s. .1929 J-J
Div 1st g4s.. 1933 M-N
W
Since
January
cfc
#1990 F-A
1944 M-N
Registered
1933
Verdi V I cfc
1st g 5s. 1926
Mobtfc Birm prior lien g 58 1945
1945
Mortgage gold 4s
MobJ cfc K C Istcona g5s.l953
Mob & Ohio new gold 6a.. 1927
1st extension gold 6s..ftl927
General gold 4s
1938
MoutgomDiv 1st g 5s. .1947
St L cfc Cairo coll g 4s..el930
Guaranteed g4a
1931
& O coll 4s See Southern
Morris
Registered
1074 1094
A-0
F-A
2-°
Apr '02
103
NY<fePul3tcongug4s 1993
Nor & Mont 1st gug 58.1916
West Shore lat 4s gu...23iil
30 1014104
A-O
St L Div 1st ret g 4s. ...2001 A-0
Dal cfc Wa 1st gug 5s... 1940 M-N
Mohawk
119
914 974
604
74
Loiv
95
Registered
Minn Un See St P M &M
Mo Kan cfc Tex 1st g 4s. ..1990 J-D
Pac 1st g 4s... 1990
Mo K & E 1st gu g 5s. ..1942
M K cfc T ot T 1st gu g Ss.194'.
Shersli <fc So 1st gug 58.1943
Missouri Pacific 3d 7s
1906
1920
1st consol gold 6s
Trust gold 08 stamped. «1917
Registered
al917
1st coll gold 5s
1920
Cent Br Ky 1st gu g 43.1919
1926
Leroy&C VA 1, lstg 5s
Pac R ot Mo 1st ex g 48.1938
2d extended gold 08. ..1938
St L Ir Mcfc Sgen con g 5sl931
Gen con stamp gtd g 5s 193
Ask
Bid
Gouv& OswelstgugSs 1942
Moh & Mai 1st gu g 4s. .1991
N J June R gu. 1st 4s.. .19*0
J
Ex lstg 7s.l910 J-D 1154.
cfc
Range or
cfe Ad 1st gu g 4s.. .1981
Clearf Bit Coallstaf 4s. 1940
974 98
89" "92"
115
115
'04
'01
102^ Sale 1014
M<fePlst5sstpd4sintgu 1936 J-J
M S S M cfc A 1st g 4 int gu 1926 J-J
Riv&tf
119
cfc
2d gold 4a
1st ext gold 5s
Week's
Last Sale
Cart
Mar'O:
A-0
A-0
MStPcfcSSMcong4intgu'38 J-J
Unilied
Jan
Jan
Range
Price
Friday
April 8
STOCK EXCHANGE
January 1
Week Ending April, 8
Low Miyh N Y Cent & H R—(Continued)
N. Y.
i.2S»4 i'2'4"
974 Mar'04
97 4.
N \V
&NW
M & St P
1st consol gold 5s
1934
1st and refund gold 4s. .1949
Minn & St L gu See B C R <fc N
Kan C
914
BONDS
Hanjje
Since
Deo '03
111
115
115
110
.
1144.
.
South West
914
[Vol. lxxviii.
3
Registered
1st gold 7s.. 1927 J-D '144
1909 J-D 111 1*.
Iowa Ex 1st gold 7s
Pacilic Ex 1st gold 6s. ..1921 A-0 1174.
cfc
High. Wo
108i4 Jan'03
125 Mar'04
122 34 Aug'03
11638 Mar'02
119 Mar'04
75 J'ne'02
113 Nov'99
9734 Jan *04
107>2J'ne'03
.
9112
Mexlnteruatlstcon g4s.l977 M-S
1977 .\I-S
Stamped guaranteed
1910 J-D
Mex North 1st gold 6s
Mich Cent See N Y Cent
MilLS&W
S-c
1
Coal See
anhattan Ryoonsol4s.l990
1990
Registered
Metropol El 1st g 6s.. ..1908
Coloniz g 5s. ...1934
ManSW
.
*1194.
M
or
Last Sale
Ask Low
Bid
•
A Lex gold 44s~.1981
N o A M lHt gold 68.. ..1930
N" O A M 2d gold 6a
1980
L
Range
Friday
April 8
,n
L&
Week's
Price
stock exchange
Week Ending April 8
n. y.
—Continued— Page
ii
ii
-
104
105 4 J'ly '03
Sale
1054
1074
1034
1074
107
4 105
4
1044 41 1014104 4
107 4J'ue'03
10134 102 '4
101
;,
4
102
4
>v
t
Due May t/DueJ'ne
/(.Due J'ly
98
77
82
76 4
100
Salo
87
80
p Due Nov
95
77
82
77
s
Mar'04
77
Mar'04
Mar'04
Option sale.
95
11
97
70
82
74
8S
77
814
—
°
Apr.
Bond Record— Concluded
9, 1904.]
BONDS
Price
Wkick Ending April 8
—
Range nr
Ask
Bid
KR (Continued)
113
1919
Consol gold 5s
1943 M-N 108 ....
Consol gold 4s
96 Hz 97
1912 M N
Convertible g 3Hzs
Alleg Val gen gn g 4s... 191 M-S loo's
Clcfc Mar 1st gu g 4Hzs.-1935 M-N
99
Bgelstgu4sg.'36 FA
GrRcfc Iexlstgug4Hz8l941 J-J 107
99
Sun cfc Lewis 1st g 4a. ..1930 J-J
107 Hi.
J RRcfc Can gen 4s. 1944 M-S
Pensacola cfc Atl See L cfc Nash
.St L
Peo cfc East See
Penn
MS
'2
DKKR&
Low
High
114 Deo '03
106 Aug'O
96 Hi
97
102 Nov'97
112 34Mar'00
16
111
Consol g 6s int guar. ..1912
Gen gold 4b int guar.. 1921
Waco cfc N div lstg 6s '30
Morgan's La cfc T 1st 78.1918
1920
1st gold 6s
94 Hi 97
W
N
Dcc'03
117
May'00
Peo<fc Pek Un
Uil gold 4 Has
lstg 6s.. ..1921
PereMarq— Ob&
cfc
W M 5s 1921
lOi'^i
J-D
A-O
116Hzll9
M-N 107=8 110
A-O 107*4 110
F-A
J-D
J-D
118 l4.
J-J
A-O
Pitts McKees cfc Y SeeH Y Ceu
Pitts Sh cfc L E 1st g 58... 1940 A-O
1943 J-J
1st COU80I gold 5s
Pitts & West -SeeB&O
Pitts V cfc Ash 1st con 53.1927 M-N
1997 J-J
Reading Co gen g 4s
Registered
1997 J-J
Jersey Cent coll g 4s. ..1951 A-O
Rensselaer cfc Sar See D cfc H
115
96 78 Sale
92
Rich <fc Dan See South Ry
Rich cfc Aleck See Southern
Rio Gr West See Den & Rio Gr
Rio Gr Juno 1st gu g 5s.. .1989 J-D
Rio gr So 1st gold 4s
1940 J-J
Guaranteed
1940 J-J
cfc
Rome Wat
<fc
B R
See
Og
See
N
'
8
Sale
105 110
64 Hi 67
P
Y Cent
cfc
Rutland 1st con g 4Hzs
1941
Rut-Cauad 1 st gu g 4 Hzs. 1949
cfc
Fere Marq
Sag TobGr H See g 4s. ..1947
Isl 1st
t Jo cfc
St Law cfc Adirou lstg 58.1996
2d gold 6s
1996
St L cfc Cairo See .Mob cfc Uluu
P
St L cfc Iron Mount See
St L K C cfc N See Wabash
Br See T RR A of St L
St L
St L cfc S Fran 2dg6sClB1906
2d gold 6s Class C
1906
General gold 6s
1931
General gold 5s
1931
KK cons g 4s. .'96
St 1, cfc S F
Southw Div lstg 5s. .1947
Refunding g 4s
1951
K C Ft S cfc con g 6s. 192m
K C Ft S cfc Ry ref g 4s 1936
J-J
J-J
83
J-J
J-J
A-O
M
105%
M-N
M-N
105 %
124
J-J
J-J
J-J
llOHzlU
A-O
82% Sale
J-J
M-N 119Hz
78% Sale
A-O
KCcfcM R&Bl8tgu5s.l929 A-O 100 Hi
.
St Louis So See Illinois Cent
1st g 4s bd ctls.1989 M-N
St L S
2d g 4s mc bond ctfs...pl989 J-J
W
Consol gold 4s
1932
Gray's PtTer 1st gug5s 1947
St Paul & Dul See Nor Pacific
St Paul
<fe Man 2d 6s. ..1909
1st consol gold 6s
1933
Registered
1933
Reduced to gold 4%8.. 1933
Registered.
1933
Dakota ext gold 6s
1910
Mont ext 1st gold 4s
1937
Registered
1937
EMinu lstdiv Istg5s..l908
Nor Div lstgold 4s
1948
Minn Union 1st g 6s
1922
MoutC lstgug 6s
1937
Registered
1937
1st guar gold 5s
1937
\\ ill cfc S F 1st gold 5s. .1936
M
95
Sale
78
73 Hi Sale
J-D
J-D
123%123Hz
J'ne'03
110 Hz Feb'04
119i4 119 v
119*4
Nov'97
f
94%
78
72
95
78
74
187
41
185
92*4 95
72*a 78Hz
70
74»8
llOH; Feb'04
J-J
J-J
J-J
J-J
130%
HOHillOHz
130 132
107 »a 108%
116%Apr'01
110% Mar'04
M-N iiT%:
110%111
J-D
101 h 101*4 101*4 10 100 101Hz
106 May'01
J-D
104 Aug'03
A-O 101%,
A-O
128 Apr'02
J-J
Mar'03
130 He 134
114Hj.
115 Apr '97
1 14 H2 Mar'04
117 Jan '04
114%114Hz
117
117
Jan
110
102 14
J-J
A
cfc
X
110
'04
110
113 34Dec'01
B egistered
ref
67% 63
98 *s 99
89Hz
103
102
102
103
107
J-J
J-J
J-J
J-J
J-J
J-J
J-J
68
68
98 Hi
98
90 Oct '03
100 Sep '00
65
96
106 Hi Feb '02
103 Mar'04
105% Feb'04
70*2
98Hz
102 103 s
105 Hz 105Hz
'
111*4 May'03
J-J
J-J
A-O
1912 A-O
1937 M-N
1905-.. 1937 M-N
Stamped
SPacofN Mexlstg0s..l91l J-J
P
W
J-J
95
gu g 4s 1949 F-A
1949 F-A
100
89
8
Sale
Sale
Sale
100
89
Hi
W
Mar'04
934
119*2
102
118
100
3
7S
105
110
'""8
Jan
Jan
78 34
4
90 H>
107
'2
100*2
114
114
109
loo
Mil
'01
22
79
100
76
105
101)%
Mar'0 4
80%
107%
Nov'03
Feb'04
108
1
19
F*V04
101
J-J
J-J
J-J
119
107
108
119
Mar'Ol
100 Hi.
101
101
103
103
114
110
109 H
111% Oct
Jan
103
113*4 Sale 113
110
93
95
*111 114H. 113
* 93 Hz 94
94
120
114Hz....
'02
'04
113*4 111 111
Feb '01
108
93
Mar'04
114 Hz
113
116
113
J-J
J-J
121
J-J
114HU16
A-O
M-N
M-N
M-H
M-S
M-S
M-N
M-N
106 Hj
110
91%
Oct '03
Mar'04
113
H8
10
110Hz
108
109
92
113*4
117%118%
ll0Hzll0%
118% 122
122 Mar'04
120 Jan '04
115 Mar'04
108 Hi Dec '03
92 Sep '02
105% Mar'04
123 Feb'02
112 Feb '03
115 Jan '03
105
95*4
93*2 95
7
118*4
8
110*2 Feb'04
118
108
121
l()9Hi
108%
Dec '03
Mar'04
Mar'Ol
91Hi 91% Mar'04
J-J
J-D
Hj
Dec'O:'
102
Oct '03
106Hz May'tK!
119»4 Feb '03
i*n
F-A
J-J
93
130Hj
101%
100 34
F-A
M-N
M-S
112
113
130
106% Mar'Ol
'i
106*4
100>,
112
J'ly'03
J-J
J-J
Ac Low Hinh.
127 Hi Feb '02
130 Mar'Ol
122 Seu 'Hi
130
108
1 20
114
1 20
115
103Hz
105%
112% sale 112% 112*8
110% Mar'04
92
93 Dec '03
110 112%
110 34 110%
114
113
Mar'04
112%114%
122
117
.7
94
My '00
104 Hz Sep '02
A-O 109 Hz.
F-A
A-O
WMinWcfcNWlstgu5s'30 F-A
TolcfcOC lstg 5s
Western Div 1st g
1935 J-J
5s. ..1935
A-O
1935 J-D
Kan cfc
1st gu g 4s.... 1990 A-O
Tol P cfc
1st gold 4s. ...1917 J-J
TolStLcfc Wpr lien gSHss. 1925 J-J
50-year gold 4s
1950 A-O
Tor Ham cfc Burt 1st g 4s. A 1946 J-D
Ulster&DellstcongSs 1928 J-D
n Pac RR <fc 1 gr g 4s. .1947 J-J
Registered
1947 J-J
1st lien convert 4s
1911 M-N
Registered
1911 M-N
Ore Ry cfc Nav con g 48.1946 J-D
Ore Short Line lstg6s.. 1922 F-A
1st conaol g 5a
1946 J-J
4a cfc participating
1927
Utah cfc Nor 1st 7s
1908 J-J
Gold 5s
1926 J-J
M
W
FA
87
98
99
84 Hi
100
117
85
107*4 J'ly'03
11 2 4
'
.
110
.
Debenture series
A
1939 J-J
Series B
1939 J-J
1st lien equip s fd g 5s. .1921 M-S
Detcfc Ch Ext Istg5s..l941 J-J
DesMoiu Div lstg 4s.. 1939 J-J
Om
112*4 115%
110 110
Feb'04
Mar'Ol
Sep *03
60
117
90 Mar'04
Feb'04
108 108
106 Hz 106Hz Mar'O v..
113
113 Mar'04
105
111 Sep '03
107*2 105
105
89 *s
92 Mar'04
86*4
8?
87?6 86*4
83
83
83
68
68
68
98 Apr '03
108
106*4 Feb'04
100
.
116%
.
89 34
103% Sale 103 Hz
103%
Mar'04
98 Hz 100
96 a4 Jan '04
99
Hz
Sale
101% Sale 101%
121*2
114*4
94*4
12lHi
114Hzll5
95*4 Sale
109%
4
110%
106%
112*4 113
105
105%
91% 92%
88
86
81
83%
68
72%
94 Hz 100
96% 96%
98 Hz 101%
2 120% 124
121*2
114* 4
:!
117
93
100% 104
2756
101% "28
95
115
85
108
101
106*4 106 Hi
107 100 34 103%
104
5 111
631
114*4
90% 96%
Dec '03
112
114Hz Apr'02
102
117
107
98
6
104
Sale
116*8 117
106*2 Mar'Ol
101Hz Apr'()3
108
34
1941 A-O
Tol cfc ChDiv 1st g 4s. ..1941 M-S
St Chas Bridge 1st g 68.1908 A-O
108
95
82 H
93
77
114% 117
106*4 109
Hi
68
00 34
62*4 2J^ 57
102
102
102 Jan '04
106*4 108*9
108 Hz 108 Hz
Sale
Div lstg3Hzs
100 Hz 104
Feb'04
103
Feb'Oi
90
90
79% 81%
Mar'02
98
98
90
81% Mar'04
109 Hz Mar'03
cfc
W
W Va Cent & P
84%
81
35-
110>4 Ceb'03
100*2 102
Feb'04
105% Mar'Ol
105 '4 Feb'04
102
105
103
114*4
108*4
W
See Soutli Ry
Va cfc Southw't 1st gu 5s. 2003 J-J
1939 M-N
Wabash 1st gold 6s
2d gold 5s
1939 F-A
Mid
100% 177 97% 100% WestN Ycfc Pa lstg 5s. .1937 J-J
Gen gold 3-4s
1943 A-O
89% 38 87 H2 90
Income 5s
</l9i3 Nov
85 34 87 34
Jan '04
West No Car See South Ry
Mar'04
97
98
100
35 97*4 10l»fc West Shore See N Y Cent
99*4 Mar'03
Mort guar gold 3 Hzs.. £1929 J-D
84 Hi 85 H.
Registered
kl 929 J-D
Gal Har cfc S A 1st g 6s.. 1910 F-A 106 108
2d gold 7s
1905 J-D 103
Mexcfc PaclstgSs
1981 M-N 106 107
Gila VGcfcNlstgugos.1924 M-N 104
Hous K A;
T 1st g 58.1933 M-N 105
1st guar 5s red
1933 M-N
103 H
113
108
M-S
It
% Mar'04
199*4
MS
since
Juintarii 1
See Del Lac
West
Wash Cent cS'eeNorPac
Wash O &
See Southern
Jan '03
102
100%
Hin
Range
1
11
109*2 Sale
M-S
2000 J-D
92000 Mar
1931 J-J
2d goutiness
La Div BLlstg 5s
Warren
J-J
J-D
J-D
J-D
W lstgug 5s.. ..1941
Cent Pac 1st
J-J
lstgold 6s
1st con guar g 5s
irginia
A-O
M-N
Ask Low
,113
Uni N J RR cfc C Co See Pa HH
Utah Central See Rio Gr Wes
Utalicfc North See Un Pacilic
Utica & Black R See N Y Cent
See Mo P
Ver Val 1 ml cfc
cfc
Seaboard Air Line g 4s... 1950
Coll tr refund g 5s
1911
Car Ceut 1st con g 4s.. .194'.:
Fla (Jen <fc Pen 1st g 5s. 191b
1st land gr ext g 5s ...1930
Consol gold 5s
1943
Ga cfc Ala Ry 1st con 5sol945
Ga Car cfc No lstgug 5s 1929
Seabcfc RoalstSs
1926
Slier Bur & So See M K «fc T
Sil Su Oca & G See Atl Coast L
Sod Bay cfc So 1st g 5s
1924
So Car cfc Ga See Southern
So Pac Co— Coll tr g4Has..l905
Gold 4s (Cent Pac coll). £1949
Registered
kl'Jib
cfc
1st gold 5s
cfc
N P 1st sink g 5s. 1919
Sav f & West See Atl Coast L
bcioto Val
N E AeeNorcfc W
cfc
M
131 Mar'04
140 May'02
107 58 Mar'04
J-J
J-J
J-J
J-D
Week's
M
M
cfc
J-J
1905 A-O
D...1906 A-O
F...1912 A-O
g 6s series
Coast 1st gug 4s.. ..1937
1905
Tex & N O lst7s
120 Oct '01
191
Sabine Div lstg 6s
112 H2 Dec '02
1943
gold 5s
Con
1994
Southern— 1st cong 5s
115*2115**
Registered
1994
115Hz Mar'04
98 J'ly'97
Mob cfc Ohio coll tr g 4s.. 1938
Mem Div 1st g 4Hz-5s... 1990
120HiDec'02
1951
St Louis div 1st g 4s
97 218 94% 97
90%
1918
Ala Gen R lstg 6s
96*8 J'ly'03
Atl <fc Danv 1st g 4s
1948
"23 91%*
92
92 H,
Atl cfc Yad 1st g guar 4s. 1949
94%
1916
Colcfc Greenvl8t6s
E T Va cfc Ga Div g 5s.. 1930
1st gold 5s
1956
Con
E Ten reor lien g 5s
1938
105 Dec '03
1922
Ga Pao Ry 1st g 6s
63 Hz Mar'04
Knox cfc Ohio 1st g 6s... 1925
63 Hi 63 Hi
92 Mar'03
1915
Ricbcfc Dan con g 6s
Deb 5s stamped
1927
Rich cfc Meek 1st g 4s.. .1948
SoCar&Ga 1st g 5s.. ..1919
IOUNot'01
Virginia Mid ser C 6s.. .1916
Series D 4-58
1921
87 Dec '03
Series E5s
1926
General 5s
1936
Guar stamped
1936
1st cy gu 4s. .1924
O&
West N C 1st con g 6s. .1914
S & N Ala See L & N
Spok Falls cfc Nor 1st g 6s. 1939
105 Feb '04
Stat Isl Ry 1st gu g 4*28. .1943
104 Hz 105
104 Hz Dec '03
Sunb cfc Lew See Penn RR
122 34 Mar'04
122 34 124 Hz SyraBingcfcNY 6'eeDLcfcW
' I ^ebo cfc N
111
111
See
K cfc T
110 111
98 Deo '03
1 er A of St L 1st g 4 Hss.. 1939
100 Jan '04
1894-1944
1st con gold 5s
100 10i)
82
82 Hi 229 79 Hi 84
Bge Ter gu g 5s. 1930
St L
119Hz Feb'04
119*2 119*2 Tex & N O See So Pac Co
78%
79 234 78
80% Tex cfc Pac E Div 1st g 6s ..1905
A-O
108*8.
Last Sale
A-O 110
91
A-O
M-N
A-0 127
General gold 5a
SFe Pres& Pu lstg 5s.. .1942 M-S
S A
A P See So Pac Co
F
B
lstgessoriesC
1st g 6s series E
1st
107 3 i I08^i
109*4 HOH2
119*4
A
Pass 1st gug48. 1943
So P of Ar gu 1st g 6s...el909
cioio
1st guar g 6s
1905
S Pof Cal lstg 6s
UsHz 118 34
108*4 Feb'04
107*4
St P cfc Nor Pac See Nor Pac
St P cfc S'x City See C St P
cfco
Salt LakeC 1st g s t 6s. ..1913 J-J
S
April S
Cal 1st guar g 5s. 1927 J-J
W
M
M
M
Jan '04
Apr'02
118% Mar'Ol
137
cfc
S Act
S
W
Pitts
95
109
92
61921
PMg6s
1920
1 939
1st consol gold 5s
Pt Huron DivlstgSs. 1939
SagTuScfc H lstgug 48.1931
Pliila <& Beading cons 7s. 1911
Pine Creek reg guar 6s... 1932
Pitts Cin cfc St 1. See Penn Co
Pitts Clevecfc Tol -SeeBcfcO
bee Penn Co
Pitts Ft
cfc Cli
1922
Pitts June 1st gold 0s
Erie 2d g 5s...al92s
Pitts & L
Flint
123H2
121Hi
Range or
YTcfcMex gulstg4s.l912 A-O
No of Cal 1st gu g 6s.... 1907 J-J 99
Guaranteed gold 5s
1988 A-O 101
Ore
CCC&
Price
ty-idav
Hid
Low High Southern Pac Co (Continued
H & T C 1st g 5s int gu..l987 J-J
.
UN
1381
STOCK EXCHANGE
Week Ending afro, 8
=3* January 1
A'O
4
N. Y.
Since
.
.
Roch
Last Sale
—Page
H
1
BONDS
Range
Week's
Fridav
April 8
STOCK EXCHANGE
N. Y.
)
105% 107
105
Dec '03
Nov'03
105 Hz
J-J
Wneel'g
A-O
1st g 6s. .1911
1st g 5s. ..1926
Wheel Div 1st gold 5s. .1928
Extencfc Imp gold 5s. ..1930
1st consol 4s
1949
Wilkes
East See Erie
Wil cfc Sioux F See St P
cfc
Winona cfc St P See C cfc -N
Wis Cent 50-yr 1st gen 4s. 1949
cfc
le
&
J-J
F-A
114%
11 5*4
Feb '04
95% Oct
30
40
109 112
109 '2 113
H>7
105 109
M-S
87Hz
J-J
89 Hz Sale
08H
115*4
Mar'Ol
112
,
115
'03
Dec'03
103-4 114
109*4
109*4
110*4 Nov'03
110 Mar'03
37 Ha
88
Sii
M M
W
89 Hz
90
46
91
88*2 90
.HLSCKLLANEOUS HON DS— Concluded.
&
.Uanulactui-ing
Industrial
Bar cfc S Car Co 1st g 6s. ..1942
Consul Tobacco 50-yr g 4s. 1951
Registered
1951
1 )isi 11 Sec Cor con v 1st g 5s. '-j 7
Distill of AmerooUtrg 68.1911
111 Steel CO deb 5s
191o
Non-oonv debeu 5s
1913
Int Paper Co 1st con g 68.1918
Int st Pump 10-yr couv. Os 3
'
1
Knicker Ice (Chic) 1st g5s.'2.Lackaw steel 1st g 5s
1923
Si at Starch Mfg Co 1st g 6s 1920
Nat Starch Co s f deb 5s.. 1925
Stan Rope cfc T 1st g 6s. ..1946
Miscellaneous
J-J
F-A
59
F-A
A-O
'00
60
515
98
90
90
106
102
F-A
J-J
'
3
Adams Ex col tr g4s
1948 M-S 101 Sale 100% 101*2 25 100 4 102
53% 61% Am Dk imp 5s see Cent N J
57 34 58 Hi Am SS Coot W Va g 5s.... 1920 M-N
100 34J'no'02 *2
61
66%
68 *a B'kl'n FerryColslconsg5s'4S F-A
65
0^
64% Sale 64 7»
Clue J c
St Yard col g 5s. 1915 J-J 102 Hj
Mar'Ol
111
76% 83*
DetM cfc Mldgr incomes. .1911 A-O 76Hz
Mar'Ol
76%
cfc
64 34
65% 12
cfc
99 Sep '03
99 J nil '99
Hoboken
92
I gold 5s. ..1910
92
92 Feb'04
105*8 10(i% Mad Sq Garden lstg 5s.. 1919
106
106H
97 101% Man Bch H cfc L gen g 4s.. 1940
101% 101 *a
Newp Ne Ship cfc D D5s<U990
93 Feb'03
92** 92%
92 Hz 12 92% 95% N Y Dock 50-yr lstg 4s.. 1951
St Joseph StkY'ds 1st 4*28.1930
8S
83
89
88
J
88
<!5*2 66
St L Ter Cupples Siat'n & Prop
65
66 Feb'04
47
Co 1st g4Hzs 5-20 year.. 1917
10 35
40 Sale
40
40
3
4*4 S Yuba Wat Co con g 6s. .1923
2
1 4
3
3
3 Sale
3 110*8
l()7 4
110*2
110** Mar'04
8p Val Wat Works 1st 68.1906
77 34 Sale
75%
78 7e 6830 68% 78% US Red cfc Ref 1st slg 68.1931
77*2 Sale
2
79
68% 79
75%
64% Sale
A-O
J-J
F-A
Jan
58Hz Mar'04
J-J
J-J
A-O
A O
M-N
Sale
105
69
Income gold 5s
194i
US LeathCo sf deb g6s.. 1913 M-N
U S Steel Corp col tr2d 5s. ii'63 M-N
Registered
April 196K M-N
"No price Friday; latest bid and asked. aDueJan 6DueFeb
L&
c
Due Mar d Due Apr ZiDueJ'ly k Duo Ang
M-N
M-N
M-N
J-J
F-A
91
J-J
100
Feb'02
50
90
91
91
91
J -I)
J-J
M-S
98
Hz.
108 Nov'03
USHzJ'iy'oo
79 Ang'03
Due Oct p Due Nov
q
Due Deo
s
Option sale
—
6
'
k
3
BOSTON STOCK EXGHAN(jE-Stock
Share Price*— Not Pep Centum Prices
Monday
Saturday
April 2
Wednesday
April 6
Ttusdav
April 6
April 4
Thursday
April 7
Record, Daily,
STOCKS
BOSTON STOCK
tYiday
April 8
Weekly and Yearly
Mange for Year
1904
Sales
of
the
Range tor Previous
Year (1903)
Week
EXCHANGE
Shares
Lowest
Highest
Lowest
Itailroatla
71% 72k 72k 73% 73k 73k 73% 73*4
72 k 72 k
91*4 92
92k 92 k 93*4 94 k
91 k 91%
•91k 92
248 249
24.".
246 245k 246 248
245% 245 246
139 139k 139 k 139 k
139 139 k 139k
139 139
•234 235
235 235 236 k 240
•232 ....
233
166 167
166% 167
»16« 167
166 167k 166 34 167
170
170
295
140
>k
140
120
185
140
•119
•
3<
U
295
300
141
120
183
141k 140
119kll9k 120
183
185
297 k 300 k Last Sale
•140 145
139 142
119 120
120 120
160 160
160k 160H
280 281 •230
139 139
139kl39k 140 140k 141 141
139 139
•36
•36
08
38
38
•36
37k
38
»36k 38
•76
77 k
77k 74k 75
76k 76k •76
•76k 77
Last Sale
172k •170' 4 172k 170% 172 k *170k 172k Last Sale
•170k
20
19 k 19k
19 k 19 k
•18k 19k •19
19
19
75
74% 74*4
74 k •74
•73k 74k 73k 78k 74
3
934
9 34
9% 9% 10 10k •9k 10 k
•9*4 10 4
189 k 189% 189 k 189 k 189k 189 k
189 k 189% 189k 190
* 162 H> 163
162kl63
163k 163 k
Last Sale
•2023*
•78
68
204
•78
•69
36
203
80=8
68
37
•
80=8
70
35
204
204
•78
•69
204
•204
80% •78
70
37
'
70
80'i
70
205
75
•70
71
37
37
*
205
75
•37 k 45
'37k 45
*37k 45
•37k 45
Last Sale
Last Sale
Last Sale
•65
•65
•66
70
88 k 89 k
•65
•65
92
111
163
92
110
163 ...
92 k 92 k
111 111
....
•140
14
•13
72
70
85% 86k
4 92 k
85
•92
163
92k 93k
....
92
111
92
111
163
92
111
'140
•140
•13
13k 13k
5
«2l>k
127 84
6%
20 k
128 k
5
3k
3k
116
««34
103,
10-34
74k 75
-3 k
3%
114k
9k
9
235
IO.V4 165 "4
39 k 3Jk
79
79
•177
235
164
•ok
127k
125% 126
125 k 126 k
12534
10k 10k
74% 75
•113
...
92 k
110%
5%
*5k
235
4%
4k
1934
125%
126k 123 a4 126 k
Ilk Ilk Hk
74 34 75
74% 75
3k
•3k-..
125*4
10*4
•113
9
9k
•5 k
9
5k *5k 5',
235k 235 k 236
1 34
4%
126
113
163
40
•Ik
9k
5%
11
Miscellaneous
13% Amer Agricul Cheui.lOO
Do pref
100
72 k
50
4% Amer Pneu Serv
Do pref
50
19 k
100
127% Amer Sugar Refin
125%
122%
Ilk
10*4
75
2,894
126
123 k
11
75 k
•19
127
19
127 k
126
124
5,577
3,240
1,458
•3k
Last Sale 114** Feb '04
9
9k 9 k
9k
5k 5*4
237" 237"
236 236 k
•163
41k 40 k
80
80 k
177 •174
165
165
41
80k
176
Do pref
100
Amer Telep & Teleg.100
Amer Woolen
100
Do pref
100
100 13
567 71
3,330
575
435
Boston Land
10
60
Cumberl Telep <fe Tel 100
Dominion Iron & St
780
East Boston Land
209
Edison Elec Ilium.. .100
196
General Electric
100
129
Mass'chusettsGasCoslOO 9,780
Do pref
100
Mergenthaler Lino.. 100
Mexican Telephone.. 10
N E Telephone
100
Mar
3
Jan 5
3k Feb 4
17 Feb 2
122 k Feb 24
122k Jan 5
119 k Feb 19
9 Feb 19
68k Jan 19
3k Mar28
54k Aug 89% Jan
Aug 103% Jan
J'ne "62 k Feb
Aug 54 Jan
Aug j:50 Apr
85
S 244
40 k Jan 6 134
235 Apr 6 230
7
"
•3 k
165
8
">
74% 75
41
74% Apr
94k Apr
:50k Apr
H
,
19
127 k
125 k
123 k
64 Marl 4
439 88 Jan 7
290 242k MarlO
344 a;137 Feb 5
132 230 Marl]
284 165 Marl6
1 170
Feb 3
11,308
100
140 k Boston Elevateil
240 Boston & Lowell. ...100
Boston <fc Maine. ...100
167
169 Jan 25
Do pref
.100
171 Jan 13
295 Feb 24 300 Jan 21
296 k Mar'04 Boston & ProvidencelOO
460 139 Feb 11 146 Jan 26
140
140 Chic June By & U S V 1 00
83 119 Mar26 124k Jan 1!
100
Do pref
120
120
1 182 Jan
Con& Mont Class 4. .100
184 Feb 16
3 160
•160
Apr 6 162k Jan 4
168 Conn <fe Pass Riv pref 100
19 276 Jan 25 281 Apr 6
•280
Connecticut River... 100
335 135 Jan 2 141 Apr
Fitchbnrg pref
100
141
141
200 24 k Jan 2 38 Apr 6
37 k Ga Ry& Electric... 100
36
•76
50 73 Jan 27 76>^Mar24
Do pref
100
77k
42
Mar'03 Houston El'tric com. 100
Mar'04 Maine Central
174
100
172 Jan 6 174 Mar 5
160 16*4 Feb 25 24 Jan 21
Mass Electric Cos
100
19k
3
388 72 Marl4 80% Jan 27
74 4
7434
Do pref
100
200
9*4 Apr 4 14
10
10 Mexican Central
100
J an 11
189
189 k N Y N
& Hart. ...100 543 189 Apr 8 196 Jan 2
11 162 k Jan 25 163k Apr 7
Northern N H
100
225
222 Jan 29 228 Mar23
Mar'04 Norwich & Wor pref 100
•205
211 198 k Jan 7 205 Apr 7
207 Old Colony
100
•74
55 75 Feb 16 80 k Feb 1
76 Pere Marquette
100
•70
8 68 Marl7 75 Jan 13
71
Do pref
100
10 35 Marll 39 Jan 20
37 Rutland pref
100
'03 Savannah Elec com. .100
15\ Oct
42
Feb '04 Seattle Electric
40 Jan 15 42 Feb 3
100
92
90 Jan 26 92 Jan 26
Feb '04
Do pref
100
Terre Haute Eleo
100
87 k
100 15.498 71%Marl4 89% Apr 4
88 Union Pacific
165 86k Mar
Do pref
94 k Apr 6
100
92% 92 k
163** Mar'04 Vermont & Mass
163 Marl4 163kMar29
100
293 89 Jan 4 93 Marl6
92*4 West End St
92%
50
148 108 Jan 4 lllkApr
Do pref
50
110 k 110k
17kFeb26 17 k Feb 26
27k Feb '04 Wisconsin Central. ..100
J'ly'03
Do pref
100
38ht
145 Jan 7 145 Jan 7
145
Jan '04 Wore Nash & Roch.,100
13k •13
73
72k
4% 4 7
•4k
41% 41
80
80 k 80 k
177 177 k 177
lk lk •lk
41
80
177
79
177
....
236
163k 165
236
163*4
92 k 9234
110 34 111k
249 k
139 k
237
166k
13% •13
72k 72
18
19
127 k 127 k
126*4 127 '4
125 k 125*4
9
165 Hi
39k 39 k
78k 79
178 178k
1 J4
•13
72 k
13%
72%
70
88% 89%
93k
Last Sale
•93
Last Sale
Last Sale
Last Sale
140
4%
6
70
88k 89k
93
94k
9334 94k
19k 19k •19
126
I2534 126
125
....
72% 72k
72 k
72
70
89 %
74% Atch Top * Santa FelOO
Do pref
100
94 k
loo
250k Boston & Albany
7334
•93*4
15k Jan 13
Highest
1
1
161
170
Jan
J'ne 1 95
J'ne 177
290 J'ly
133 Sep
110 Nov
184 Nov
160 Jan
270 Aug
131 J'ly
25 Oct
75 Dec
42 Mar
173 k May
Nov
Apr
305 Mar
157 Jan
125 Jan
196 k Mar
170 Mar
86 Feb
143 k Feb
39 k Jan
83 k Jan
42 Mar
180 Feb
Feb
75 Dec 96 Jan
8% Nov 28% Apr
tl88 k May 225
Jan
161k Dec 173kMar
1
7
37*4
Sep 232
220
Aug
196
74
68
30
:
12
J'ly
91
Sep
Mar
k Feb
May
85
71
25
Jan
Jan
7
Jan
75 Jan 84*4 Jan
91k Oct 104 k Jan
J'ly
J'ly
66% Aug 104k Jan
83 k Oct 95
2162 Sep 178
87 k Aug 97
108 Sep 116
Jan
Feb
Feb
Feb
15 k Nov 26% Jan
38 k J'ly 52 Jan
144 Sep 150 Jan
Nov 26
9
Feb
66 k Nov 86 k Feb
3 Sep
7 Mar
6 Mar31
21 Mar31 12 Sep 24 Mar
131k Jan 25 107% Oct 134k Jan
126k Jan 26 116 Aug 123 k Dec
130 k Jan 25 114k Oct 169 k Feb
76
Jan 23
12% Jan
77 k Mar30
3% Feb 16
112 k Jan 15 114k Feb
7% Feb 29 10 Jan
51-. Jan 23
6 Marl 6
230 Feb 26 240 Jan 16
Feb 2 6 178k Jan 22
157
37% Mar 15 43% Jan
976 77% Marl4 82 k Jan
60 174 Feb 10 180 Marl 2
100
lk Mar30 2 Jan 25
32 118 Feb 23 122% Jan 28
Marl4 4 Jan 28
1
10 Mar 2 8 15 Marl4
1681208 Marl 5 219% Jan 22
6k Jan 19 7 k Feb 15
95 x99*4 Mar 21 102 Jan 5
6 34 Oct
Oct
65
3kJ'ly
Oct 127
115
6k
5
14% Feb
79% Jan
5% Jan
Jan
Nov 62% Jan
k Oct
8% Jan
Dec 310
Feb
Feb
48% Feb
74%
88% Feb
164*4 Aug 190 Feb
IkOct
2k Jan
121 Nov 139 Jan
9 Apr 20 Jan
223
138
30
Sep 204
J'ly
J'ly
*lk
*120k
Last Sale 1
Mar'04 PlantCom t'st stk comlOO
Last Sale 10
Mar'04
Do pref
100
197 J'ly 237 Jan
209 k 209*4 209 209 •209 209 k 209 209% 209*4 210 *210
212 Pullman Co
100
Last Sale 7k
6 k Dec 10 Feb
•7k.
Mar'04 Reece Button-Hole.. 10
•7k-.-.
99 J'ly 132 Jan
101 101
100 k 100 k 100k 101
100% *100k 100 34 100
Swift & Co
100 k
100
100k
•
25 J'ne 26% Jan
224
22k
22k
22k Last Sale 25U, Aug'03 Torrington Class A.. 25
Last Sale 2s
28 J'ly 29% Jan
Sep '03
Do pref
25
•2
1*4 Jan
-2
•2
•2
Last Sale 2k
3
3
5 Apr
8
2 Jan 16
2%Mar29
Mar'04 Union Cop L'd & Mg. 25
100 100k loo 100k 100k 100k 100k 100% 100% 100% 100 k 100 k United Fruit
100
281 95 Feb 8 102 Mar28 91 Aug 111 Jan
•48 k 48 k.
47 k 47 k
48
48 k •47 k 48
48
48 k •47k
45% Feb 26 48k Jan 25 38k Oct 53 Jan
48 United Shoe Mach... 25
338
28 k 28%
28 k 28 14
28% 28% 28 k 28% 28k 28 h *28k
Do pref
26
28%
115 28 Jan 28 29 k Jan 25 27 Aug 31k Feb
7 Sep 15% Feb
Last Sale 7k
7 Feb 9
8 Jan 23
Feb '04 U S Leather
100
Last Sale 7Sk Mar'04
77 Jan 16 78kMar21 71% Oct 95 k May
Do pref
100
LiiSl Sale 13%
9 Oct
10*4 Feb 6 14% Jan 27
18 k Feb
Mar'04 U S Rubber
100
33 J'ly 57 k Jan
58% 58% 58 k 58k
Do pref
59k 59 k 58k
100
58 k
210 40k Jan 6 59 k Apr
11 '4
11
11
11
934 Jan 6 12% Jan
10 Nov 39% Feb
11
11
Ilk 11% 11% 11% Ilk
100 1,999
11% U S Steel Corp
59 k 59 38
49% Nov 89% Jan
58% 59 k 69 k 60k 60% 62% 61%
58k 59
Do pref
100 13,225 54% Feb 1 62% Apr
62 k
»-60
••60
•65
•60 -65
•65
60 -65
'65
•52% Marl4 75 Jan 14 50 Jan •80 Mar
60
•65
60
West End Land
25
350
•8
•8
'8
•8
•8
9
9
9
8
8
9
7 k Nov 28 Jan
8 Jan 4 11 Jan 25
West Telep & Teleg.100
9
18
•80
•80
80
79 k 791, •80
71 Oct 102 Feb
80
Do pref
100
2 76 Marl4 83 Jan 21
•80
•79
82
82
SO 82 •79 82 Last Sale 80
78 Marl* 85 Jan 21 67 Oct 108 Feb
Mar'04 Westing El & Mfg... 50
•90 100
•90 100
"90 100
•90 100
95
95 k •93
Do pref
100
„. 50
20 94k Mar 3 100 Jan 16 80% Oct 110 Jan
Mining
2 Dec 18 Jan
2 Feb 15
•2k 234
2k 2k
2k 2k
2k 2k
2k 2k
25
3 Jan 18
2%
275
2% Adventure Con
434 41*16
41*16
3% Jan 8k Mar
4% 4i% 8 5*8
5k
5% 5%
5k
25 3,822 3%6 Mar 8
6% Apr 6
5k
5% Allouez
49 k 49%
48% 49 k 48*4 50% 50 k 51
50% 51k 51%
52 «8 Amalgamated CopperlOO 31,660 43 Feb 8 53 Feb 2 33% Oct 75% Mai•50
Feb
75
Last Sale
75 Max21
Ik Feb
Marl5
1
Mar'04 Amer Gold Dredging 5
11
6 Jan 12*4 Mar
10% 11
Ilk
11
•10%
8 Feb 23 11% Apr 6
10k 11
Ilk 11% 11
2,062
Ilk Am Zinc Lead & Sm. 2
18% 18% •19k
•16k 17 k 17% 17k 1734 17-k
20 Anaconda
25 1,830 15% Feb 24 19% Jan 12 15% J'ly 31k Feb
••'£$" "50"
••40
•40
••30
•40
-40
-50
•40
-40
•50
•50 Arcadian
6 k Feb
1
Jan 23 •75 Sep
25 1,100 25 Feb 2
*
-50
-00
-50
-50
•25
Last Sale 25
Jan 13 25 Jan 13 •25 Apr •95 Mar
Jan '04 Arnold
25
*8
•8
Oct 14 k Feb
Feb 11
7
8 Hi
8k
8k
8k
7
8k
8k
8k
8k
8
25
8% Jan 20
535
8 Atlantic
22 k
22 k 23 k
22% 23
22 k 22 k
20k 2lk 21
22%
23% Bingham Con Min<& S 60 4,471 19 Mar 2 23% Jan 21 20 Dec 39 k Feb
••50
••60
•60
••50
•50 -60
-60
•40
-60
Last Salt •50
Feb 3 •50 Mar23 40 Dec •90 Mai
Mar'04 Bonanza (Dev Co)... 10
•460 465
458 459
458 458 •458 160
462 465
465
25 ""1*58 435 Jan 4 469 k Apr 8 400 J'ly 551 Mar
469 k Calumet & Hecla
Last Sale OS
•OS Feb •10 Feb
10
May'03 Oatalpa (Silver)
19
19 k
12 J'ly 31% Feb
19k 1934
19% 21%
20% 21% 20% 21% 21k
25 6,866 <U4kPeb 8 22 k Apr
22 k Centennial
"7 k
•7% 7k •7 k 7k
7k
7k
7 Jan 6
5% Sep
9kJ'ly
7k
*7k
-7k
25
100
7 k Jan 14
7k
7 k Central Oil
•55
•56
•58
•58
•57
67 \ •56 •58
•58
••55
60
•58
Cons Meicur Gold... 5 1,226 •55 Feb 6 •75 Jan 6 •35 Nov 1 27 32 Jan
10
10
Ilk 12k 12
7 k Apr 6 12kApr 7 10 k Sep 1G Mar
7k 10
/.so
25
12 Continental Zinc
42% 43% 42 k 43
43
43% 43 k 44
43 k 43%
43%
44% Copper Range Con ColOO 10,069 38 Feb 2 47 k Jan 2 37 J'ly 75 Feb
25 k 25 Hi
26
25 k 26
26 k 28
27
24kMar31 36 Jan 2 31 Nov 48 k May
28
*26 k
20 5,400
26 k Daly-West
'59
•69
•59
61
bl
60
60 k
60
62
62
63 k
loo
375 6134 Mar 5 72 Jan 2 69 k Oct 131% Jan
64% Dominion Coal
107 108 k 108 108
109 109
109 109
109
110
Do pref
100
196 107 Mar31 113 Jan 22 106 Oct 118 k Feb
23«
•2 k
2 Oct
6 Mar
2k
2k
2%
2k
2k
2 Feb 6
2% 2%
2 k J an 6
2k
12
700
"2k
2 k Elm River
7
•7 k
7k
734
8
S
8
7%Marl6 9k Jan 9
7 J'ly 14 Feb
8
7k
8
250
8k
8k franklin
3
3
3
3
23, 2i%e
3
3
3
3% J'ly
6 k Apr
3
3
Granby Consolidated. 10 9,860
2% Marl 8 3i B i6Jau 5
3k
•1
1
1
Ik
Ik Ik
3 Jan
lk
lk 1%
Apr 8 •50 Deo
2
1%
5 o,761 •02 k Feb 15
2 Guanajuato Consol..
•7
7
7k
7
7k
7k
7k
7 Jan 4
7k
7k
7
9 k Jan 25
675
5k J'ly 17 k Feb
7k
7k Isle Royale (Copper). 25
•4
•1
J'ly 18
4
4
Feb
4H.
4k
4k
3 Feb 2
4k
4k
215
26
4% Jan 18 3
4k •4k
4k Mass Consol
•60
••50
"•50
•75
••50
•75
•75
Dec
75
•50 Marl 4 •87 k Jan 22 •60
Last Sale 55
2 k Jan
Mar'04 Mayflower
26
4*4 Dec HkFeb
5 34
2"
5k
6
6k
5%
6
5k
*5k 6
6
4 k Feb 2 9
Michigan
6 k Jan 5
430
6k
40
40
40 k
40 k 41
41k 42 k 42 k 44
25 3,295 34 k Fob 8 44 k Apr 8 31 J'ly 58 Feb
43%
44k Mohawk
-2 k
3>
•2 k
Nov 8 Mar
2
2 k Jan 19
3k •2% 3k •2 k 3H Last Sale 2%
Mar'04 Montana Coalite Coke 25
4 Jan 21
'60
••50
•50 •60
•5U
•60
•60
••62 k
•50
-76
•90
2% Jan
Montreal <& Boston.. 5 ""56 •50 Feb 18 •62 k Feb 4 •55 Nov
•75
May 1% Jan
Last Sale 75
May'03 National
26
•1
"1
Ik
Jk
•1
1
lk •1
lk
1
26 *"l4 •87 k Feb 27
lk Jan 23 •50 J'ne 2% Feb
lk Old Colony
I434
Oct 23% Feb
14 k 14k
14
5
13% 14
Mk 13k 14 k 13 k 13 k Old Dominion
9 k Feb 9 14*4 Apr 2
3,145
59
59
68
59 k 00
60
60
60
69 k
60
905 53 Feb 8 62% J an 6 13% J'ly 79 Feb
60 k Osceola
26
25
25 k 25 k
5 k 26
16 J'ly 34 Feb
25% 25% 25 k 26 k 96%
Feb 1 29 k Feb
26 Parrott (Silv A Copp)
1,412 20%
Ik
•^% Dec
\ 2
2
2
1% 1%
7 k Feb
2
2
2k
555
lk Mar 8 3 Jan 25
2 k Phoenix Consol
•82
85
8S
89 k
89
89 k
SO Oct 126% Feb
89 k
88
210 80 Feb 25 100 Jan
89 Quincy
'86
*o«>
......
1
lkApr 8 75 Nov 4 Feb
lk
425 •85 Mar22
lk Rhode Island
134
ia4
»1% "i»
3 Jan
1% "i% •1%
1 J'ly
1% 1%
lk Jan 2 2 k Jan 20
825
1%
1% Santa Pe(Gold & Cop) 10
8k
8k 8k
8k
8%
8% 8i% 8
Jan 5
7 Deo 14% Apr
8k 9
10 6,570
8%
7k
9k Jan Us
8% Shannon
97
100
97
99
99 100 k 100 100
100
100 Tamarack
226 90 Mar 14 120 Jan 19 76 J'ly 190 Feb
26
Nov l% 6 Feb
•25
Last Sate 75
Deo '03 Tecumseh
25
Last Salt 13
17% Jan 3334 Mar
J ly '03 Tennessee
26
4k 4k
4k 4k
4k
4k 4k
4k 4k
3%Mar26 5 k Jan 5
4kJ'!y 14 Feb
26 1,195
4k
4% Trinity
Last Sale
4 Dec 31% Jan
100
6 Mar 19
Mar'04 United Copper
6 Marl9
20*4 21k
20% 20% 20% 21k 20% 2)k
Jan 4 22 Jan 20 i6k J'ly 27 k Feb
20% 2
21
i",9ii 18
21k UnitedSlates Mining
J
•9% »%
'•'%
'•»%
9 4
e k
9H
B%
9k
8 Dec 17 Mar
Hk
506
8 k J an 4 10% Jan 20
Unit States Coal &Oil 25
3334 34
34
34
34
34k 33% 31k
33% 34k 'Hi" "34 k Utah Con(Gold)
6 4,168 30 Jan 2 35k Jan 18 22 Jan 33% May
3k
3
3k
3k 3k
9
Feb
334 J an 23
1 k Dec
3k 3k 3%6 3% a% 6
d2 k an 2
26 1,515
3k Viotoria
7
7
7
7
7
7
5%J'iy \ 14% Mar
7k
5 Feb 23
7kJan 6
7k
25 1,782
7 k Winona
•71
72
71% 71% 71
71% 71k 74
73
7334
73
985 69 Jan 6 76 Mar 9 61 J'ly 77 Mar
25
73 k Wolverine
••75
••75
•76
'76
•75
1
•75
1
"7;.
1
1
40 •50 Feb 23
lkJan 4 •75 Oct
2% Mar
I
Wyandot
98
>Beforepay'tofaa8ess tscalledlnl903. d Before pay'tof aasoss'tscalledin 1901. -Bid aud asked. U New stook. fAss'tpaid. tEx-nghta. «Ex-div.<fe right*
'Ik
12ok 120%
•Ik
'120
1*4
•120
120
1
•120
'
;
'
'_'
!,
-'4
'_'.">
I
I
•J
1
.--.-1
1
-
l>
1
.1
,
j
'
—
5
5
APR.
Boston Bond Record.
1904.)
9,
BONDS
BOSTON STOCK EXCH'GE B5
Week Ending April 8
Week's
Range
Range or
Since
AprilS
Am Bell Telephone 4s 1908 J-J
Am Telep & Tel coll tr 48.1929 J-J
Nebraska 1st 7s.. 1908 MS
Atch
Last Sale
January 1
Ask Low
98% Sale
89% Sale
<fe
923,,
89
27
232
89
1
Feb '04
104*2 Apr'00
117 Feb '04
99% Jan '02
M-S
1924
1907
1944
1905
98*4
113*2 Feb'03
99*2 136
99 *b
89
110
J-D
J-J
F-A
Improvement 4s
Bost it Mon 3d issue 7s...l904 M-N
Terminal 1st 3*28.1947 F-A
Boston
1918 J-J
Bur & Mo Riv ex 6s
1918 J-J
Non-exempt 6a
1910 J-J
Sinking fund 4s
1917 A-O
Butte & Boston 1st 6s
Cedar Rap & Mo K 1st 7s. 1916 M-N
1909 J-D
2d 7s
Cent Vermt 1st g 4s.. May 19'2o
Chic Burl & Q extend 48,1905
1919 A-O
Iowa Div 1st 5a
1919 A-O
Iowa Div 1st 4a
Debenture 5s
1918 M-N
1922 F-A
Denver Exten 48
1927 M-N
Nebraska Exten 4a
1921 M-S
B«fc SWsf 4a
1949 J-J
Illinois Div 3 *2S
Joint bonda See Gt Northern
Chic Jo Ry & Stk Yda 5s .1915 J-J
Coll trust refunding g 4sl940 A-O
Ch Mil & St P Dub D 6s.. 1920 J-J
Ch & St P Wis V div 631920 J-J
Chic & No Mich 1st gu 5s. 1931 M-N
Mich gen 5s
<Jhic&
1921 J-D
Concord <fe Mont cons 4s.. 1920 J-D
Conn <fe Pass R 1st g 4s.. .1943 A-O
1927 A-O
Current River 1st 5s
1st 4a... 1946 A-O
DetGr Rap&
Dominion Coal 1st 6s
1913 M-S
Eastern 1st gold 6s
1906 M-S
imchburg 4s
1915 M-S
1927 M-S
48
Fremt Elk<fe Mo V 1st 6s.. 1933 A-O
Unstamped 1st 6s
1933 A-O
Gt Nor C B & Q coll tr 4s 1921 J-J
Regi8tered4s
1921 Q-J
99% Sate
117
1 1
90
50
81
100
Jan'04
107
1
Feb '04
Jan *04
loo'i
104 4
99- 8
99%
106*4 Dec '02
>
i>S*2
,105*2
123*2 Mar'04
101 Mar'04
106-<j
101*i Sale
W
Feb '01
124 a4
.
W
10
106
97*2 Jan '04
124
123 *2.
101
M
90*8
105%
95 *a 98
108
104
105'4
106
109*4 Mar'02
112*4 Jan '03
101*2
101
Mar'04
Mar'04
951-2
108
104*8
104%
Jan
111*4 May'02
103
93
'04
137
137
336*2
136*2
Feb '04
Feb '04
93
93
92»4
93*4
92%
Note— Buyer pays accrued interest in addition
to the
68
42
70
*70*4 72
91
91
Tuesday
April 5
April 4
Wednesday
April 6
107
101
M exican Central cons 4a. .1911
J-J
63
Jan 1939 J'ly
Jan 1939 J'ly
all
Boston Bonds.
No
price Friday
Exchanges— Stock Record,
ACTIVE STOCKS
Thursday
April 7
(For Bonds and Inactive
Friday
April 8
Stocks see below)
96
97
85*a
104
107*8
101*4
10S%
101%
12134 122
'04
'
J'ne'03
63%
63 34
13 Mar'04
7*8
7*8
102
96
97
7*8
Mar'02
Mar'04
10134
101 *s Sale
102
90
100
7*8
96
102 Jan'04
102*2 Oct '03
102 *8 Mar'04
106 'a Mar'03
102
102
101*8 101*8
112 May'01
100*8 Oct '02
120*2 Mar'04
105 Oct '02
102*8.
70*2
16*4
13
j'ne'O::
97*a
102
102
102*8104*4
101*8 102 *»
101%
101
120*2 12034
Mar'02
Nov'03
100
100*o
100*2
Feb'03
Mar'04
94% Mar'04
103*2
Sale 103
107
103
101
100% 103
94%
94
15 100*2103*2
71%Dec'03
102 34
105*2J'ne'03
10234 Apr'03
102*8 Nov'03
99*2
99*2
87*4 J'ly '01
"b
102*4
99*2 Sale
112% Oct
and asked.
i'0234
i"o"'j
'\
98^ 100*2
'03
1j
Trust Co.
ctfs.
Weekly, Yearly
Range jor Year
1904
the
128
100
110
118
95
81*2
107*4
63%
75
104
Daily,
Sales
of
JiiqK
II434 Oct '03
% Sale
103
1
Low
104
101%
Jan
January
96
97
128
97
108
117
92
A'o
Jan'04
101%
latest bid
;
Since
High
107*4
.
'2.
Range
*s V:
97 Mar'04
128 Jan '04
100 Mar'04
109
109
117*4 117*2
"5
92
S3
M*2
104 Mar'04
122
102
l8tconainc38
128 128
2d cons inc 3s
Mich Telep cons 5s tr rec.1929 J-J
79
Minne Gen Elec con g 5s 1929 J-J
81
1929 F-A
99*2 100
New Eng Cot Yarn 5s
1906 A-O
New Eng Teleph 6s
1907 A-O
100*4 100*4
6s
1908 A-O
104*4 104 '4
6s
1915 A-O
99*4 100
5s
Eng 1st 7s
1905 J-J
1905 J-J
98*2 98*2
1st 6s
1924 F-A
90*8 92*2 Old Colony gold 4a
Oreg Ry & Nav con g 4s. .1946 J-D
1922 F-A
105% 10634 Oreg Sh Line 1st g 6s
97*2 97*2 Repub Valley 1st s f 6s... 19 19
4*28.1941
12434 125*2 Rutland 1st con gen
123*2l24*o
Rutland-Canadian 1st 4s 1949
100 101*4 Savannah Elec 1st cons 5s.l 952
1930 F-A
105*2 106% Seattle Eleo 1st g 5s
191" M-S
Torrington 1st g 5s
Union Pac RR <fe 1 gr g 48.1947 J-J
100*2101*2
1911 M-N
1st lien conv 4s
95*8 97
United Fruit conv gen 5s. 1911 M-S
105*2 109
US Steel Corp 10-60 yr 5a. 1963 M-N
1915 F-A
104*8 104 "a Weat End Street Ry 4a
1914 M-S
Gold 4*23
103 103
debenture 4s
1916 M-N
Gold
1917 F-A
Gold 4s
137 137
137 137
Western Teleph & Tel 58.1932 J-J
90
93*2 Wisconsin Cent 1st gen 4sl949 J-J
90% 93*8 Wisconsin Valley 1st 7s.. 1909 J-J
Share Prices—Not Per Centum Prices
Monday
1st 7s. .1907 J-J
1st 7s... 1905 J-J
Maine Cent cona 1st 7s.. .1912 A-O
1912 A-O
Cons let 4a
Mara Hough & Ont 1st 68.1925 A-O
113
102
99*4
purchase prioe for
Philadelphia and Baltimore Stock
Saturday
April 2
9ii
A-O
A-O 127
A-O
J-D 109 ....
M-N 117 117*a
M-S
94 Sale
M-S
81*2 Sale
A-O
NY&N
Mar'04
90*8
964.
2
102
Feb '04
81
100
90'a Sale
KanCStJo&CB
LR<fcFtSmldgr
117*4 Feb'03
81
M
CM
117
99*4
J'ne'01
100
12s
»
99*a
89^4
110
Mar'04
99*4
128
97%
87
Ask Low
J-J
rilinois Steel
8a *a 94
110
112*3 Jan '03
112
112'h
102
"
April 8
deben 5s
1910
Non-convert deben 58... 1913
la Falls & Sioux C 1st 7s.. 1917
Kan C Clin & Spr 1st 5a.. .1925
Kan C Ft S&Gulf 1st 7s. .1908
6s
1 928
Kan C Ft Scott &
& 15 gen 4s
1934
Kan
1934
Assented income 5s
Kan C <fe M Ry & Br 1st 581929
974
Week's
Range or
Last Sale
Friil ay
Bid
Mar'03
101
112*8 Sale
Price
BOSTON STOCK EXCH'GE
Week Ending April 8
High No Low Hi oh
98*2
89*4
99 % Sale
AtchTop&SFegeng4a..l995 A-O
J'ly 1995 Nov
Adjustment g4s
Boston Elect Light 1st 6s. 1908 M-S
Consol 5s
Boston & Lowell 4s
Boston <fc Mame4*2S
BONDS
Price
Friday
Bid
1383
Range
lor Previous
Year (1903)
Week
Shares
Lowest
Highest
Highest
Lowest
Baltimore
9%
71
*8934
93
9*3
4
•16%
7*2
7*2
7%
•4334
44*4
20*2
"43% 44*4
20
*%
20*4
20*4
*%
*3
3
4
3*v
3
8*16
8%
*2*a
8
8
3
17
•7
71*5
90
9*2
17
7*2
20
*%
*234
8
44*4
20*4
68
68
37*2
•36*2 37*4
3%
3%
.
I
,
'
>
4334
20%
20*2
4
3*4
%
*3
4
*2*3
3
3*3
8*8
*8
8
69
5834
39
59
39
5%
5%
*14
14*2 *13*a 14
227 18 22**16 21**18 22%
*39
"38% 39*3
40
*30
*30
3()34
31
4034 5U
49 34 49%
83
83
83
83
PHILADELPHIA
68
,
58*6 16
39
5%
*1334
22
3934
83
69
36*2
36*4
3%
59%
39*8
5' 8
14*4
Diamond State
83*4
Ask
7*4
45
46
10
30
Nesquehoning
10
10*2
613,
(
Steel.
North Pennsylvania.. 50
Penn Gas Coal
50
<fe
104*4
44
N
*
151
95*2
34
Steel..
10
10
United
J RR <fc C. 100
Unit Pow & Trana
25
United Trac Pitts
50
Preferred
50
Warwick Iron <fc St«el.l0
West Jersey <fc SeaSh.50
Westmoreland Coal... 50
44*4
95*4
Tidewater Steel
Preferred
4
*2*3
8*8
20%
%
s4
8*8
12
68
36 34
37*2
68
5«lfl 5" 1B
*13 J4
14*4
22*2
39 *a 39*2
29%
30*2
49*3
49%
83
83
3*9
59*3
5934
38%
39*8
6
*1334
6*8
14*4
22% 2234
39*3 3934
*2934 30*2
49*3 49%
83*4
84%
PHILADELPHIA
E
Al Val
Consolidated Gas
100
92*2 Northern Central
50
*9*2
934 Seaboard Air Line
100
•17*2 IS
100
Do pref
-7
7*2 United Ry & Electric. 50
72
*90
708
72
5
45
30
100
%
*2
2 34
263
4834
4%
55
265%
49*4
4*2
59
43% 43 7s American Railways
203< 20% Cambria Steel
50
50
Consol Lake Superior.. 100
ia
*3
100
Do pref
4H2
»8
8% Electric Co of America 10
•11
12 Gen Asphalt interim ctfs..
35*4 35*2
Do pref interim ctfs..
*38
69 Lenigh Coal & Nav
50
37*3 37*2 Lehigh Valley
50
'3%
3*2 MarsdenCo
100
50
593i 6 59*3i 6 Pennsylvania RR
39
39% Philadelp'a Co (Pittsb) 50
6
6% Philadelphia Electric. 25
•13*3 14 Phila Rapid Transit ... 50
50
22% 22\ Reading
3934 39 34
Do 1st pref
50
•30
30*2
Do 2d pref
50
4934 Union Tracton
50
49%
84
United Gas Impt
50
84 m
•18
22 Welabach Co
100
18
57*2 Jan 5
87*2 Jan 18
8*4 Feb 25
1534 Jan 16
6% Feb 24
ext 7s 1910 A-O
1911. J-D
Atl City 1st 5s g '19. M-N
Balls Ter 1st 5s 1926.J-D
Berg&EBrw 1st 6s'21 J-J
Bethle Steel 6s 1998. Q-F
Che & D Can 1st 5s '16 J-J
Choc& Me 1st 5s 1949 J-J
Ch Ok G gen 5s '19 J-J
Col St Ry 1st con 5s 1932
1st 5s. '33
68 43*4 Jan 18
4,439
300
l3 16
Ask
Bid
Bonds
Indianapolis Ry 4&.1933
Interstate Rys
49 7
Susqueh Iron
*3
E & A 1st M 5s 1920 M-N
Elec & Peo Tr stk tr ctfs
Elm & Wil 1st 6s '10.J-J
Eq II Gas-L 1st g 5s 1928
H & B Top con 5s '25 A-O
59*3
Pennsylvania Salt
50
Pennsylvania Steel. .100
Preferred
100
Phila Co (Pitts) pref... 60
Phil German & N orris. 50
Phila Traction
50
Railways General
10
4334
ConTracofN J
Lit Brothers
10
Little Schuylkill
50
Minehill & Schuyl H..50
50
4334
20*2
&
j.
N Haven Iron &
7*2
AmRyaconvSa
Easton Con Electric. 50
Elec Storage Batt
100
Preferred
100
German town Pass
50 130
Harrison Bros pref.. .100
Indianapolis St
100
Inter Sm Pow & Chem.50
Keyatone Telephone ..50
Preferred
50
KeystoneWatchCase.100
.
7*2
Steel...
Preferred
10
18
*7*4
3*3
59 «4 59=»
39
39
22% 22% 8
39 a4
*2934 30*2
49*3 49%
Bid
10
Atuer Iron & Steel
50
Bell Telephone
50
Cambria Iron
50
Central Coal & Coke. 100
Preferred
100
Consol Trac Pitts
50
Preferred
50
Danville Bessemer. ..1*2
*934
*1734
35*2
*67 34
68
36*3 36*2
Inactive Stocks
American Cement
*90
12
35*2
3*4
693 16 59%
39-2 39*2
*r>%
6
i
43»4
11% 11%
•36*4
72*2 72*2
72*2 Apr 6
Jan 27
1034 Jan 2
21 34 Jan 2
91
8% Jan 26
58*2 Dec 72*3Jan
84*2 Oct 118 Jan
1034 Dec 28*4 Jan
Oct
Oct
20
8
Jan
Jan
45
14*4
Philadelphia
'43 34
3534 3534
68
7134 72*2
*90
9
9
*17*8
•7
7*2
116
101
113
"93"
101*2 103
115 118
1,425
6,735
4,650
5,280
108%
109*4
107 V
105*4
111%
97*2
108 34
81*3
PHILADELPHIA
106*4
103*4 IO334
I0734 108*4
fl
5*2Jan26
8% Jan 20
13*3 Feb 8
38*2 Feb 6
68 Mar31
38*2 Jan 25
4*ie Jan 25
61*2 Jan 27
43 Jan 22
6 9 i 8 Janl3
1 15*4 Jan 21
24 Jan 25
40"i8 Jan 27
31 Jan 22
Bid
40% Dec 52*2 Jan
17*4 Nov 26 34 Jan
%Nov
%Dec
19
Nov 36 J'ly
Aug 79 34 Feb
45% Jan
64
35
5
Oct
Aug
150
108
225
90
60
334
2\
89
108*2
92%
111
87
108
118
10834
110
114
114*2
116
102*2
CenflRycon5sl932 M-N 113
Ext& Imp 58.1932 M-S 11 J
Chas City Ry 1st 5s '23 J-J
Ex-rights.
t$15 paid.
103
Duck
18 34 Nov
36 Sep
9
Jan
Feb
Nov 40*8 Jan
34 Feb
40% Sep 47
34**16
44**16
27 34
76
20
Oct 116*2Jan
Aug
1st 5s
Incomes
108*2
Npt N&O P 1st 5s'38 M-N
1941 M-S
General 5a
31
Bid
84
112
110
113*4
& Weld 58..1935.J-J
Ask
113%
90\
91*3
115*2
10934 110*3
111*2 112
102% 103*8
107*2 108*3
120
113
47*4
20
*a
114
47 34
21*4
loo
116*4
11034
60
14
Norfolk St 1st 5s '44. .J-J 106
North Cent4*23 1925 A-O 109
J-J 101 34
6s 1904
118
Series A 5a 1926. ...J
70
Series B 5s 1926. ...J-J 117 *s
4*4
Pitt Un Trac 5s 1997.J-J 111*2
3
Poto Val 1st 5a 1941.. J-J 110
SecAvT(Pitta) 5a '34 J-D 112
Sav Fla & West 5s '34 A-O 110'4
68
Seaboard AL4sl950A-O
91
109*2 Seab & Roan 5s 1926. J-J 106
5s.. A-O 107
South Bound 1st
93
UE1 L&P 1st 4*2S'29 M-N 78*2
112
Un Ry & El 1st 4s '49 M-S 89 7e
90
53
J-D
Income 4s 1949
Va Mid 1st 6s 1906.. M-S 103
119
1911. ..M-S 110
2d series 6s
109*4
3d series 6s 1916.. M-S 110
4th ser 3-4-5s 1921. M-S 109
5th series 5s 1926. M-S 110
115
Va (State) 3a new '32. J-J 93
94*4
Fund debt 2-3s 1991. J J
West N C con 6a 1914 J.-J 114*2
WeaVa C&P lat 62/11 J-J
Mar
85
50
95
Wil
Feb
Jan
47 34
7%Dec 17% Jan
MetSt(Wash)lst5a'25FA
Cot
Jan
4
55% Nov 78 34 Jan
W
Mt Ver
11
34*2 Nov
1*2 Sep
5s '99
BALTIMORE
Jan
Deo
Dec
BALTIMORE
Ask
Jan
10*4
7*i8 Oct
9»i 8
40 a4 Jan
10
M
M
M
N
Lowest Is ex-dividend,
l% 8 Febll
99*2
M-S
Chas Ry G & El
Charl C & A ext 5s.'09 J-J
64 34 65
2d 7s
1910 A-O
114
105 105*2 City&Sublst5a..'22 J-D
City<fe Sub(Was)lst5s'48
123
Con
Col&Grnv Ist6a.l916 J-J
J-D 119*2
7s 1911
Con
Consol Gas 6a. ..1910 J-D
6s g 1911.... J-D 113
Ex Imp M4sg'47.A-0 102 104
5a
1939 J-D
Con
of '82 4s '37.J-J 102
Ga& Ala let con 5s '45 J-J
Terminal 5s g 1941. Q-F 122*4 123
GaCar&Nlst5sg'29J-J
P
Georgia Plst6s. ..'22 J-J
& B col tr 43 '21. J -J
Rochester Ry con 5s 1930 106*2 T09
GaSo & Fla 1st 5a 1945J-J
S R E Side 4s interim ctfs 103*4
G-B-S Brew 3-4s 1951M-S
97*2
U Trac Ind gen 5s'19.j-j
2d income 5s 1951 M-N
U Trac Pit gen 5a '97 J-J 112 113
Knoxv Trac 1st 5s '28A-0
Welsbach 8 f 5s 1930.J-D
57*2 59
LakeR El 1st gu5s'42M-S
NY
Bid and asked prloea; no sales on this day.
5 34
8
M
People's Tr tr certa 4s '43
P Co lstvfe col tr 5s'49 M-S
Jan 30
21*4 Jan 23
Feb 9
Jan 6
30,781 19*3Marl4
116 38 Mar 1
20% Feb 19
1,879 45 a4 Jan 2 50 Apr V
1,698 82*4 Feb24 89 34 Jan 22
Inactive Stocks
Atlanta & Charlotte. . 100
50
3-3*2-4a 1943
F-A
Atlan Coast Line RR. 100
Lehigh Nav 4*33 '14. Q-J 106*2 107% Atlan Coast L (Conn) 100
RRa 4s g
1914. Q-F 102*4
Canton Co
100
Gen
4*28 g. 1924. Q-F 10834 109
Georgia Sou & Fla...l00
Leh V C 1st 5s g '33.. J-J 109*2 110
1st pref
100
Leh V ext 4s 1st 1948. J-D 111 112
2d pref
100
2d 7s 1910
M-S 116*2 11634 G-B -S Brewing
100
Consol 6s 1923
J-D 122
Mt Vernon Cot Duck
Annuity 6s
J-D 138 13934 Unit Eleo L & P pref. 50
Leh V Trac 1st 4a '29. J-D
Nat Asphalt 5a recta
Bonds
New Con Gas 5a 1948 J-D 107*2
Anacostia & Pot 5a
Newark Pass con 5s 1930 112*2
Atl& Ch let 7. ..1907 J J
Ph& No 1st 4s '39 J-J 101*v 103 Atlan C L RR4sl952M-S
Income 4s 1939. ..M-N
Atl Coast L(Ct)ctfs 5s J-D
91
No Penn 1st 4s '36.. M-N 110 112*
Ctfs of indebt 4s
J-J
Deben 6s 1905
Bait CPass 1st 5s '11 M-N
M-S
Penn gen 6s r 1910.. Var
Bait Fundg 5S.1916 M-N
112
Consol 6a c 1905. ..Var 10234
Exchange 3*38 1930 J-J
Consol 5s r 1919. ..Var
Refunding 3*28 1952 J-J
Penn & Md Steel con 6s. 110
Bait & P 1st 6s m 1 '11 A-O
Pa &
Y Can 7s '06. J-D 107*4 108 '4 Bait Trac 1st 5a.. '29 M-N
Con 58 1939
No Bait Div 5a 1942 J-D
A-O 111
Con 4s 1939
A-O
98
Convertible 5s. '06 M-N
Penn Steel 1st 58 '17 M-N 105*3
2% Mar 3
55%Marl2
38 Mar 3
45
P & E gen M 5 g '20.A-O
Gen M 4s g 1920. .A&O
Ph & Read 2d 58 '33. A-O
107
108*4
103*2
61
106
230
120
803
6
Jan 12
1*3 Jan 19
734 Feb 8
10 Jan 6
30 Jan 11
62*3 Jan 14
3334 Feb 26
*4
Phil Eleo gold trust ctfs.
Trust certifs 4s
114
100
97*4
1,175
18% Jan
111*4
116
60*3
15
100
107*3
102*4
119
118*3
68*3
108
79*3
90
53*4
104
111
110*3
94*2
95
115*3
111%
1
—
.
.
—
6
.
THE CHRONICLE.
384
Volume
<;«i* Securities
Elizabeth Gas Lt Co. .100
Exchanges
of Business at Stock
Essex
<fc
NEW YORK
Stocks
Week ending
April 8
Railroad
State
V s
Bonds
Bonds
<tc
Bonds
far value
Shares
jyt>4
6s 1925. ..J
98 '2
60
28
-J
(ias* ei Bergen Co. .100
Grand Rapids Gas
• 1st 5s 1915
F-A 5101
STOCK EXCHANGE
WEEKLY AND YEARLY
DAILY.
Bid
200
Hudson Gas 100
FortWayno
TRANSACTIONS AT THE
[Vol. lxxviii.
Ask
Indiistrir.l
Col
89 4
64
31
ami
ilisccl
Bid
& Hock Coalcfc I pf 100
1st
g5s 1917
Ask
80
90
66
J-J
!
Compressed Air Co... 100
ionsolid Car Heating 100
Cons Firew'ks com .100
85
4
75
17
07
65
(
13
'
4
« Preferred
103
lOo
00
Hartford (Ct) Gas L...25 t 474 50
Cons Ry Ltg&Refrig.lOO
34
l
Hudson Co Gas
100
58
58 4 Consol Rubber Tire.. 100
4 14
5a g 1949
Exch list
.See Stock
Debenture 4s
133j 15
Indiana Nat & 111 Gas—
Cons Storage BatterylOo
10
lBt 6s 1908
M-N
ContTob.ic deb 7s'o
44
48
51014 02 4
Indianapolis Gas stock 5o
75
Cramps' ShAEnBldgl 00
15
25
1st 6s 1920
M-N 5104 105 4 '.('rucilile steel
100
5
54
Jackson Gas Co
81
50
eterred
100
324 32 4
5s g 1937
A-O } 97
98 4 Cuban Os of 1890
98
90
Kansas City Gaa
10
'Diamond Match Co. 100 1294 130
100
15
Dominion Securities. 100
A-O
99
H58 1922
5
15
lILacledo Gas
100
100
Electric Boat
100
20
25
liPreferred
90 100
Preferred
100
51
60
100
3.
Lafay'eGaalst 6s'24. M -N
60
65
Electric Lead Beduo'n.50 t
"4
1
Logcfc Wab V lat 6a'25..J D
50
54
Preferred
50
1
14
Madison Gas 6s 1926. A-O 5105 108
Electric Vehicle
loo
64 74
Newark Gas 6s 1944. Q-J 5136 137
Preferred
loo
9 4 104
Newark Consol Gas.. 100 71
73
Electro-Pneum'icTranlO
4
8
5s 1948 See Stock Exch list
Empire Steel
lot)
6
7
No Hudson L <fe Pow—
Preferred
loo
30
42
5a 1938
A-O 5100 101 UHeneral Chemical ..100
44
474
5
10
UO& IndC Nat& IU .100
^Preferred
100
94
100
3
1st 6s 1926
48
52
J-D
Gold Hill Copper
°8
1
4
Pat & Pas Gaa & Elec 1 0(
42
46
Greene Consol Copper.10
154 lo^
Cong 5a 1949
M-S 101 102
Hackensack Meado ws 1 00
19
21
St Joseph Gas 5s 1037. J -J
94
95
Hall Signal Co
100
85
95
StPanlGaa Gen 5a'44M-S
90
92
Havana Commercial. 100
8
15
Syracuse Gas 5s 1946. J -J 5 94 4 96
Preferred
100
15
35
Havana Tobacco Co. .100
29
304
Preferred
100
35
40
Telegr <Sc Telephone
Hecker-Jones-Jew'l Mill
HAmerTeleg& Cable 100 85
87
1st Os 1922
.M-S
09
102
Bell Teleph of Buffalo 100
96 100
Hemn g-Hall-Marvin 1 00
1
3
HCentral & So Amer .100 101
1st preferred
30
40
loo
Chea<fe PotoTeleph.,100
30
40
2d preferred
4
100
8
5s 1909-29
J-J 103 78 104-\ Hoboken Land& Imploo 200
TICommercial Cable ..100 173
180
Hos 1910
.M-N 5102
104
Commer Uu Tel (NY). 25 115
Houston Oil
2
5
100
Emp & Bay State Tel 100 78 82
Preferred
13
100
18
Franklin
42
100
52
Hudson Realty
95
110
1|Gold<& Stock
Tnterboro R T .See Street Rya
100 110 120
Internat'lBankingColOO 140 146
IM^s, 1905
Hudson River Teleph 100 02
98
Int'n'l Merc Marine. 100
5
54
Teleph.. .100 142
143 4
UN
Preferred
174 184
100
5s 1920 .See Stock Ex chan; e list
Col tr deb 4 41922op'07
70
80
120 125
11 Northwestern Teleg. 50
International Salt
11
100
114
Pacific & Atlantic
75
82
25
I8tg6sl951
39
41
96 105
USouthern & Atlantic 25
International Silver. 100
10
Preferred
30
35
100
1st 6s 1948
5 98
100
J.D
Electric Companies
John B Stetson com. .100 165
Chicago Edison Co... 100 148 150
Preferred
150
100 130
Hartford (Ct) Elec Lt 100 235 249
Kitchener Gold Mining. t
4
lIKingsCo ElL&PCo 100 180 100
Lanston Monotype
20 t
84 9
Narragan (Prov) El Co 50
874 91 Lawyers Mort insur.100 165 170
41
Q El L&PowColOO 35
Lawyers' Title Ins. ..100 265
275
Preferred
70
73
100
LightFueLfcPofWValOO 34
35
18
UnitedElectricof
20
ULorillard (P)pref ...100 115
J100
63
4s 1949
J-D
634 Madison Sq Garden. .100
15
2d 6a 1919
80
M-N 60
Manhattan Transit
1^8
20 t
14
Ferry Companies
Mex Nat Construe. pflOO
54 7
Brooklyn Ferry stocklOO
64 7 Monongahela R Coal.. 50 t
"26*"
109
1st 6s 19.ll.J-J 105
Preferred
50 t 25 4
Con 5s 1948 See Stock Exch list
Mosler Safe Co
1024
100
N Y & E R Ferry stk.100 70 75 UNat Enam & Stamp 100 17 19
1st 5s 1922
94
M-N 5 92
79
IfPreferred
85
100
N Y&Hoboon 5s '46. J-D 5105
National Surety
100 122 4 125
Hob Fy lst5a 1946 M-N 5107 110 NewBrnnsCannelCoal 1
3
N Ycfe N J 1st 5s 1946.J-J 100 102 UNew Central Coal
42
43
20
10th & 23d Sts Ferry 100
40
60
New Eng Consol Ice. 100
3
1st mort 5s 1919... J-D 5 92
96
Y Biscuit 6s 191 1 M.s 104
30
ITUnioii Ferry stock 100
34
N Y Mtge<fe Security. 100 110 iso"*
Ulat5al920
93
M-N 90
16
UNew York Dock
20
100
40
UPref erred
100
Railroad
N Y Transportation... 20
5
54
Buffalo & Suaq pref ...50
86
87
3
NorAmLum'r<tePulplOO
4
Clue Peo & til L pref. 100
UOntario Silver
44 5
100
Deposited stock...
3
8
Otis Elevator com
25
30
100
Undepoaited stock
84
Preferred
89
92
100
Prior lien g4 1as'30MAS
io5*
Pittsburg Brewing
25 4
50
Con mtg g 5s 1930.J&J
80
92 4
Preferred
45
50
Income 5s 1930
16
25
Pittsburg Coal
lOV 164
100
ChRI<fe Pac4s (wi)....
94
95
00
Preferred
100
Erioconv4sAprI'53A&0
81
86
Pratt & Whitn ]jn-f..l00
99 105
Northern Paciflo
Realty Assoc (Bklyn)lOO 112
100
IIS
When released
130 137
Royal Bale Powd pref. 100 1004 102
Northern Securities.. 100
984 99 RusseU & Erwiu
63
25 r 01
Pitts Bess & L E
33
36
Safety Car Heat & LtlOO 180
50
1S5
a
Preferred
73
77
Seminole Mining
50
5 t
4
^
Seaboard Air Line20
Simpson Crawford Co 100
30
Colt ir 5s '07 op (w i)M-S
84 3, 85
Deb sf 6s '24 op '05. .J-J 70
85
Va& Southwestern.. 100 25 35 Singer MfgCo
100 370 400
Standard Milling co.100
6
6\
Industrial mid IHisccl
Preferred
23
25
100
Alliance Realty
90
71
100
5s
74
UAllis-Chalniera
8
9
100
Standard Oil of N J. .100 02O &M>
40
^Preferred
48
Standard Coupler com 100
28
too
32
52
TJAmor Bank Note Co. 50
54
Preferred
130
100 115
4*8
American Can com... 100
4\ Storage Power
4
60
30^4 37
Preferred
100
Swift it Co .See Boston St k Exc u'ge
90
American chicle Co.. 100
100
1st 5a 1910-1914.. ..J-J 51004 1014
76
Preferred
100
80
Tennessee Copper
32
26 t 31
Ij
American Elevated
75
4
li'l'exas A- Pacific Coal ] 00
90
00 "a 101
Malting 6a 19 U.J n
Lat Os 1908
A-O 5105 111)
Amer Press Assoc'n.100 75
Uuar& Trust... 100 415 430
Amir Shipbuilding... loo
204 Title Ins Co of N Y..100 130 145
Preferred
100 "834
10
Trenton Potteries com 100
13
2
Am Soda Koun com.. 100
4
Preferred new
82
85
100
03
100
lat preferred
70
Trow Directory new.. 100
65
75
2d preferred
11
l-l
100
Dion Copper
10 r
h
Amerloan Surety.., ...60 158 162
Union Switch A Signal 50 t 65
105"
Amer 'tobacco com... 50 250 500
Preferred
50 t.
100 130
1 10
Union Typewr com. .100
82
fl Preferred
Aui Typefo'rs com... 100
26
80
1st preferred
100 102
104
Preferred
100
85
00
2d preferred
104
100 102
2-'.,
2 '4
Amer Writing Paper.100
8
Unit Boxboard* Pap. 100
2 4
12'.,
Preferred
100
13
14
15
Preferred
100
70
5a 1919
71
U S Cotton Duck
loo
1
2
v Harney .t Sm Car ...100
10
20
u s Envelope com... 100
20
110
lot
125
^Preferred
60
1] Preferred
100
65
Bliss Company com
100
60 140
U S Light & Dear.... 10
6
Preferred
50 140
100
u s Reo.t Refining. 100
BoniUfc Mtg (iuar
100 385
IfPreferred
110"
s Shipbuilding
Bordeu'a Cond Milk.. 00 117
100
Preferred
LOO 107 4 112
Pi ( [erred
100
Camden Land
SSteel lorn new 6a Sec stk E x list
4
4
Celluloid Co
loo 114
11
s 1 5s '51 opt '11.. 51044 105
Col tr
13
Cent Fireworks com. loo
18
Coltra 5s '51 not opt
51044 105
Preferred
65
100
60
Universal Tobacco.
14
Central Konndrv
100
14
14 Pref errod
100
4
Preferred
100
74
84 Westchesl. r
BrOUX
62
Deb 6s 1019 op'Ol.MN
54
Title & Mort (iuar 00. ISO
150
Century Realty
loo 100
Westing!) Air Brake.. 60
Cheseb'-oimh MfgCo loo 420 440
White Knob Mining. 10
8
84
IIOlalliiKH li) 1st pref 100
87
Worthing Pump pref. 100 110 115
90
1|2d preferred
100
87
90
100
87
11 Common
00
1
120,144
671,461
687,702
610,521
703,067
538,321
#11,210,900
54,553,600
$10,000
52,312,100
$1,485,500
3, 178,000
4,591,500
3,424,000
4,741,500
2,982,000
3,181,206 *304,266,500
Saturday
$20,405,500
$10,000
...
Monday
Tuesday
Wednesday.
Thursday...
Friday
Total
(51,902,550
58,213,600
f.i;,073,750
.61,500
"iJSoo
1,000
500
$5,000
-
Week ending April 8
Sales at
New York Stock
Exchange
1904
January
1903
1 to
April 8
:,
1903
1904
— Xo. shares
45,756,388
3,181,206
2,241,307
35,672,045
$304,266,500 $209,070,400 $3,310,007,375 $4,336,558,825
$89,550
Bank shares, par..
$31,700
$14,600
$186,500
Stocks
Par value
BONUS
Government bonds
1
Total bonds
$5,000
10,000
20,405,600
$15,000
1,000
8,572,600
$281,200
198,000
183,005,000
$416,000
258,500
198,074,100
$20,420,500
State bonds
RR. and mis. bonds
$8,688,500
$183,544,200
$198,748,600
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES
Bond
Unlisted
shares
Listed
share*
j.yo4
Saturday
Philadelphia
Boston
Week ending
April 8
Bond
Unlisted
shares
Listed
shares
sales
sales
11,050
23,009
31,330
27.434
27,843
32,971
4,593
3,673
11.075
7,540
11,015
13,384
$26,000
52,500
208,000
110,500
120,000
180,760
5,127
10,630
6,655
9,113
18,194
9,267
15,111
11,320
$43,500
46,000
93,500
85,900
129,500
82,380
153,637
51,280
$697,760
58,936
46,786
$480,780
...
Monday
Tuesday....
Wednesday
Thursday...
Friday
Total.
1,593
2,(5(51
7,861
8,240
Outside Securities
A
Weekly Review
Market will be found on a preceding page.
of Outside
Street Railways
NEW YORK CITY
Bleeck St & Ful F stk 100
Hlstniort4s 1950 ..J-J
atk ..100
II B'y & 7th Avo
1|lstmort5sl904 ..J-D
1J2dmort 5a 1914 ...J-J
Con os 1943 See Stock
B' way Suit 1st 5s gu 1924
2d 6s int as rental 1905
flcent'l Crosst'u stk.. 100
IJlstM 6s 1922 ...M-N
1|CenPkN<fc ER stk.100
Ask
Bid
34
95
245
33
93
240
99
104
:,
4
Exch
5107
5
101
107
list
110
994 101
250
5118
202
1|Chr'fr<& 10th St stk 100 180
Col& 9th Ave os See Stock Exch
Dry D E B & fi108
ll 1st gold 5s 1932... J-D
1|Scrip 6s 1914 ....F-A
99
Eighth Avenue St.. . 100 390
U
HScrip 6s 1914 ....F-A 105
H42(i<&GrStF'ystk..l00 400
42d St
& St N AV..100 60
111st mort 6s 1910 .M-S 104
1|2d income 6s 1915 J-J
80
Iriterborough Rap Tr.100 108
M
270
120
210
187
list
Street Railways
Grand Rapids Ry
100
Preferred
100
Lake St (Chic) El stk.100
1st 5s 1928
J-J
1st 4a 1948
Cons Trac
111
of
1st 5s 1933
101
Avenue stock 100 174
75
107
90
Third Avenue See Stock Exch
Tarry
P & 5s 1928 100
YkeraStRR 5s 1940A-O 103
28th <fc 29th Sts 1st 5s '96 51084
IJTwenty-Th'd St stk 100 390
Deb 5s 1900
J-J
96
Union Ry 1st 5s 1942 F-A 109
Wostchest 1st 5s '43 J -J 101
W
M
176
106
108
list
10(5
106
110
405
99
111
105
BROOKLYN
Atlan
Avo
5s 1909. .A-O
Con 5s g 1931
liupt
5.s
W
See
5
98
A-O 108
Stock Ext u list
H u<t
E6a 1983. .A-O 99
Brooklyn City stock. ..10 232
con 5s See stock Excli Hat
BkluOrossln 6a 1008. J-J 102
Bku HgtslatSs 1941 A-O in,",
55
87
3Ki
5
1054
MS
No Hud Co Ry 6s' 14 J-J
5a 1928
J-J
Pat City con 6s '31. J-D
2d Os.... 1914 opt A-O
100
100
Preferred
Con 5s 1930
404
20
J-D
N J... 100
694
65
See Plula
»
list
2d 5s 1933
J-D 101 102(2
So Side El (Chic) stk.100
90
92
Syracuse Rap Tr 5s 1940 51004 1014
UnitRys(StLTrans) loo
114 18
Preferred
loo
53
Gen 4s 1034.... See Stk Exoh
UnitRyaSanFran
Wash Ky&El
fteeStk
Co. ...loo
Preferred
loo
4s 1951
J-D
HWest Chicago St
100
IfCong 5s 1930. ...M-N
Exoh
10
43
74
l
4
55
list
list
12
44 » 4
74 14
424 47
76
5
70
Una Securities
NEW YORK
101
Cent Union Gas 1st 5s... 5106 109
Con Gas (N Y).stk. See st k EXC )i list
EquitGasoon6s 1932 See
x list
IIMutual Gas
100 200 300
New Amsterdam Gas—
106
Lat consol 5s L048..JJ
.sy« Slock
See Stk Exch list
NY (, EL
Bklyn Rap Trail See Stk Excli list
N I <v. Eaal River (insis. .t Bklyn ..100
iey
330 360
ist 6s 1044
1 mi cons g 4s
1948. .J-J 100
Consul 6a 1046
1004
-J
Brk Gift N 6a 1939. JJ 111 114
Y<& Riclimond (ias.100
u&Ne\rlat6B'0i
Nor Un 1st 6s 1027. M-N
LOO
102
Gr'pl ALorimer St 1st Oh 102
^Standard .as com ..100
Kings Co. Elevated^Preferred
mo
Lai 4s 1049
See Stock Exoh list
lat os 1030
M N
Nassau ciec prel
100
75
OTBEB CI
58 1944
A-O 110 112
1st is 1061
Be* si k Exc ll list Anicr Light .t Tract. 100
N Wb'gift rial Latex4 1aa 100 103
Prefei red
loo
Stem way 1st Os 1922.J-J (116
Baltln
olidat 6'ei
Kay State ias
lamton Gaa 5
OTHER CITIES
BklnQCoA Sub
H&P
i
N
}106»4 106 '4
Exch
list
mo'.. 1114
5106
108
34
5102
104
140
170
5110
113
45
90
48
i
N
I
'
Am
l
'
1
%
1
07
tyGuaatoi
i
4 '<
Buffalo Street Ry—
1st 5s 1947 iS«fl Stock lCxoh list
1st consol 5i 1931.. F-A {112
1134
tgo&aa SccX v stk Exch list
6s 1917
A.o 5105 106
nnatiGas.t EloolOO
97
93
Chicago City Ry atk.100 1(50
ll
ol N J
lOo
00
Chic U ulonTrai
list
Exoh
1st 58 1036
J-J
Cleveland Elects By. 100
75 4 Coiisum (las (.1 City)
Columbus (O) StKy.,100
01
1st Os 1904
M-N 5100
Preferred
100 100
108
Consumers' 1, H it Row —
Coluni Uy con os .See Ph LLa list
6S 11(38
J.I) 5100
102
Crosst'wn l8t5a'33.J-I)
106 4 ^Detroit City (ias
50
5 Buyer pays aocrued interest.
t Sale price,
1 Price per share,
a Ex rights.
1
:
•,.",',.
.
II
list
4
(
B& NY
1
02
Ball
;
NY&
.
1()534
112
113
5100 102
5101 4 102
240
5107 no
17
18
03 1 64
81
82
100 101
112
115
110
5120 125
5100
97 100
964 98
:
Y&NJ
N
4
98
95
69
61
4s g 1949
M-N
So J Gas El & Trac 100
Gng6a 1953
110
103
235
50
85
M-N
New'k Pas Ry 5s '30J-J
Or & New 1 st 6a '05 A-O
Essex Pas 6s 1905 M-N
Rapid Tran St Ry..l00
let 5s 1921
A-O
J C Hob&PatersonlOO
400
106
410
& Pav F us
Sou Boulev 5s 1945. .J-J 5102
So Fer 1st 6s 1919. ..A-O 5105
Ask
Pub Serv Corp of N J100 100
Tr ctfs 2% to 6% perpet 40
North Jersey St Ry 100
19
Second Avenue stocklOO 206 209
1| 1st mort 6s 1909 M-N 51024 103 4
Cousol5s 1948.... F-A 5112 112»« Rochester Ry
IJSlxth
Bid
flLouisv St5sl930..J&J 5113
113 34
Lynn& Bos 1st 5s '24. J-D 5112 114
Minneap St Ry 5a See Stk Excli list
NewOrl RysCo
100
94 10
Preferred
27
100
28
4*28 1 952
J-J 5 72
75
North Chic Str stock.'l 00
70
73
109
See St k Exc list
Metropol Securities .See Stk E x list
Metropol Street Ry 6'ee Stk E x list
Ninth Avenue stock. 100 192
Lex Av
H
<
1
.
,'
*Ex dtv,
H
SeUa on Stock Exchange, but not a very activ
j
security.
a
n
.
.
Apr.
.
1
.
.
.
.
THE CHRONICLE.
1904. J
9,
.
.
.
.
.
1385
and ^aittaad Intelligence,
RAILROAD GROSS EARNINGS.
[ttujesinutti
The following table shows the gross earnings of every Steam railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month.
The returns of the street railways are brought together separately on a subsequent page.
July 1
Latest Gross Earnings
ROADS
Week
or
Month
Ala Gt Southern 3d wk Mar
Ala N O <fc l'exas- Pacific.
NO&Nn East
Vicksb Sh A P
Allegheny Valley
Ann Arbor
Atch Top <& S Fe
Atlanta & Char.
Atl Knoxv tfc No.
Atlantic & Btr. a
Atl Coast Line..'
Bait it Aim SL..
Bait & Ohio
Bangor <te Aroosl
Bellefonte Cent']
Brldgt
& Saco K
BuflRoeh&
Pitta
Buflalo ifcSusq...
Canadian North.
Canadian PacliU
CentTof
Geor^iii
Cent'lofN Jerofj
Central Facitic..
Cnattan South'n.
Chesap &Ohio...
Chic <fc Alton Ry.
Chio Gt Western.
ChioIudifcL'v...
Chio Milw & St ir
Chio& North W
Chio St
<fcO.
Chic Term Tr KK
Ctn N O &. T Pac
CI Cin Ch & St L
Peoria <& East'u
Colorado <&8outL
PM
11
ColNewb<fcLau.
Copper Range....
Cornwall
Cornwall &Leb..
40,000
23,000
25,000
anuary
Mai
t>ev.
wk Mar
2d wk Mar
.
47,274
February. 5.340,860
307,552
January..
52,195
February.
53,488
February..
February, 1,814,949
14,624
Jandary. ..
February 4,634,806
170,156
February
4,984
Marou. ..
2,974
February..
4thwkMar 227,854
62,833
February
60,400
4tkwk Mar
Ithwk Mar 1,126.000
tihwkMar 253,878
February.. 1,553.503
January .. 1,460,659
2.943
4tbwkMar
Fein-miry. 1.440,088
897,106
February.
4th wk Mar 221,752
itnwk Mar 125,975
February, 3,411.192
February- 3,709,125
773,538
February,
Ithwk Mai
39,303
3dwk Mai 121,027
February, 1,464,808
233,210
Februaiy..
ithwk Mar 100,218
23,137
January ..
38,030
January .
February.
4,584
14,257
January..
January..
149,750
1'i'WK
Ciunberl'd Valley
Denv. Rio Gr. ; Ithwk
Kio Gr. West. $
&
54,221
wk Mar
id
Vlcksb's 2d
Ala&
Current
Year
Current
Year
Previous
Year
50,471
to
Latest Date
Latest dross
BOADS
Previous
Year
2,237,055
1,638,399 13,218.232 12,520.137
95.020
9,376
69,164
4.481,472 43.461,175 40,976,291
129,333 1,311,857 1,127,114
51,948
7,544
48,588
30,178
34,109
3.333
199,27© 5,651,509 5,467,893
649,534
2,310,800
33,833,949
7,400,540
14,233,077
13,775.430
84,450
12,642.081
7,882,985
6,324,217
3.946,976
33,207,288
30,728,075
8,151,467
1,181,972
4,823.888
L.371,470 13,903,359
219,207 2,008,323
134,006 4,48 1,747
137,429
15,810
317.810
28,293
50,887
5,151
146,548
17,098
125,193 1,291,195
661,036
1.601,350
32,106.405
7,188,258
12,016,778
12,847,305
89,853
10,481.290
6,809,415
5,815,465
3,711,808
32,067,472
32,554,471
8,298.197
1,304,797
4,176,931
13,186,067
1,876,047
4,588.277
109,411
210,675
59,242
144,728
842,194
Mar
387,000 410,900 12,470,283 13,127,054
73,913
76,604
641,281
589.398
36,551
42,672 1,200,092 1,158,574
Detroit Southern. •ithwk Mar
79,805
72,407 1,942,093 2,039.544
DulSoSh&Atl.. ithwk Mar
Erie
February 2,998,800 3,353,241 29,801,902 29,102.113
37,847
50,033 1,352,295 1,300.792
Evansv it X H... ithwk Mar
3,329
3,308
20,855
F'rohild & N'r'e'n February
23/420
6,038
5,78©
Farinv& Powhat January..
47,085
45,179
170,021 157,460 1,844,009 1,749,203
Ft W<& Denv City February
227,801 202,805 1,689,771 1,580,785
February,
Georgia HH
139,267 159,692 1,292,987 1,223,218
Ga South & Fla.. March
29,078
30,920
235,533
179,385
Gila Val G 4; N.. January
Gr Trunk System 4 tli wk Mar 987,732 890,321 25,325,17s 24,729,211
GrTr. West'u. 3dv»k Mar 112,173 129,819 3,845,959 3,501,828
16,814
DetGrH&M.. 3d wk Mar
26,732
937,878
901,146
Great Northern. March.... 2,811,426 2,703.407 30,229,000 30,261,725
230,208 190,099 1,694,039 1,567,689
Montana Cent'J March
3,041,034 2,899,506 31,923,039 31,829,414
Total system. March
33,69"
Gulf&ShipIsland 3dwk Mar
32,553 1,342,442 1,221,510
Hooking Valley.. 4tkwk Mar
86,453 128,228 4,430,302 4,200.197
Hous & Tex Cent January .. 418.280 460,339 3,461,00s 3,358,251
69,903
W.Texas. January ..
81,363
519,271
555,001
10,514
1 11,551
Hous & Shrevep't January ..
19,041
124,142
Illinois Central.. February.. 3,735,996 3,405,285 31,419.548 29,300,131
Illinois Southern February..
25,573
10,148
152,074
102,001
Indlll& Iowa... February.. 143,341 148,814 1,038,081 1,159,776
Int & Gt North' Athwk Mai
108,258 136,883 4,540,084 4,270,383
Hnteroc(Mex)... Wk Mar 19 115,900 100,095 4,073,180 3,678,160
Iowa Central
4th wk Mar
65,285 1,830,519 1,865,220
75,389
Kanawha & Mich 4thwk Mar
36,989 1,236,404
843,581
42,272
Kan City South'n February.. 545,101 497,678 4,394,405 4,104,281
LakeEne&Westn March..... 387.745 400,801 3,859,750 3,590,561
Lehigh Val RR. Fobruary.. 1,990,896 2,353,304 19,285,925 15,945,127
Lexing ifc East'n. February..
42,794
34.087
432,283
353,862
Long Island
Dec. 2 4,819
Inc. 302 ,218
January ..
Louisiana & Ark. February..
331,448
65,291
436,699
38,105
Louisv Hen&St L December.
411,597
458,489
Louis v 1S1 Nashv. 4th wkMai 1,030,815 962,484 28,266,482 26,411,385
Macon & Birm.. February..
12,246
12,198
Man'teei, Gr. tta January...
81,287
8,550
12,420
52,061
Det & Mackinac. February,
.
H&E
.
i
Gross .Earnings
Allegheny Valley
Jan. 1 to Jan. 31
Atlanta & Charl Air Line. Mar. 1 to Jan. 31
Atlantio & Birmingham. Deo. 1 to Feb. 29
Bellefonte Central
Jan. 1 to Mar. 31
Chicago & North West. If... June 1 to Feb. 29
Chio St P Minn & Omaha.. Jan. 1 to Feb. 29
Cumberland Valley
Jan. 1 to Jan. 31
International & Gt North'n Jan 1 to Mar. 3
Lake Erie & Western
Jan. 1 to Mar. 31
Manistee & North Eastern Jan. 1 to Feb. 29
Manistique
Jan. 1 to Mar. 31
Maryland <fc Pennsylvania Mar. 1 to Jan. 31
Missouri Pacifio
Jan. 1 to Mar, 31
Central Branch
Jan. 1 to Mar. 31
Total
Jan. 1 to Mar. 31
{Mexican Central
Jan. 1 to Jan. 21
Mexican International ... Jan. 1 to Feb. 29
1
$37,596
2,199,210
18,676
36,554,839
1,795,876
125,193
1,292,743
1,129,988
69,359
11,709
265,814
9,890,937
307,000
10,197,937
1,292,931
1,234,967
Current
Year
Previous
Year
February..
.
.
.
i?
YT&Mex
.
P&
W
.
Wn
W
LE
.
VKAKS.
ROADS
'
3,130,452
171,561
15,002
41,525,304
1,693,216
149,750
1,210,879
1,098,250
70.147
16,032
290,583
10,237,557
437.000
10,674,557
1,432,704
1,170,105
Previous
Year
Latest Date,
.
\Current Year Previous Year
Deereaie.
Current
Year
to
MStP&S
VAISIOl/S JF1SCAL
ROADS
Month
July 1
$
$
267,430
27,006
33,879
231,219
3,484
2,470
56,332
65,072
March
187.904
18,330
19,194
175.765
January.
3d wk Jan 513,539 425,352 13,896,754 12.074,722
593,542 590,574 4,547,438 4,007.414
February..
Wk Mar 19 123,800 106,200 3,971,300 3,783,400
79S.50S
20.641
099,120
28,593
3dwk Mar
4,360
38,801
6,183
33,250
Millen * So'w'n. February..
433,314
17,517
16,430
413,913
Mineral Range.. 4th wk Mar
83,606
71,284 2,217,438 2,546,822
Minneap A St L. 4thwk Mar
StM. ithwk Mar 143,441 171,200 5,382,971 5,433,875
Mo Kan <fc Texas- ithwk Mar 492,347 484,213 13,916,093 13,303,426
MoPao&IronMt 4thwkMar 1,361,000 1,447,000 32,247,841 29,564,682
49,000
46,000 1,399.000
930,100
Central Branch 4th wk Mar
4th wk Mar 1,410,000 1,493,000 33,046,841 30,494,782
Total
6,586
310,238
8,624
187,659
Mob Jack <fe K C. Wk Apr 2
Mobile* Ohio... ithwk Mar 267,519 296,635 5,899,767 5,706,915
NashCh&StL.. 4th wk Mar 287,726 257,049 7,651,071 7,047,993
JNat'lRRof Mex 4tbwk Mar 336,583 296,403 8,489,595 7,487,596
7,763
130,002
130,085
8,949
Nev-Cal-Oregon February..
1,738
2,492
21,343
24,083
NevadaCentral.. January ..
N Y O & Hud Riv February.. 5,390,449 5,810,521 51,980,614 50,955,744
N Y Out <fc West. February.. 455,321 535,925 4,371,049 3,800,684
225,039 259,965 1,689,222 1,535,604
ST Y Susq & West February..
Norfolk <fc West'n February.. 1,686,332 1,602,290 14,847,260 13,417,158
Northern Central February.. 719,579 716,379 6,687,069 5,938,769
Ncrth'n Pacific. February.. 2,932,880 3.O15.700 32,575,319 32,120,474
389,649
30,321
33,284
345,070
Nor Shore iCal) February..
14,684
12,751
138,956
127.830
Ohio Riv& West.. February..
392,365 3,503,784 3,315,167
406.061
Pacific Coast Co. January...
cPenn—EastP&E February. 3,345,424 8,229,524 79,290,416 77,040,116
Inc. 28 7.100
Inc. 1.93 4,500
eWestP&E.... February..
Pere Marquette w 4th wk Mar 312,855 304,889 8,439,482 8,213,712
PhilaBalt&W'sh February.. 945,416 925,116 8,927,394 8,518,294
January .. 449,179 547,962 4,622,363 3,952,735
Pktla & Erie
Pittsb C C & St I. February.. 1,784,986 1,649,124 16,343,904 15,254,012
30,290
3,001
Raleigh & C Fear January. .
Beading Railway February.. 2,574,171 2,794,984 22,751,869 19,725,864
Coal .& Ir Co.... February.. 3,429,204 2,977,386 22,147,733 12,586,873
Total Both Cos. February.. 6,003,375 5,772,370 44,899,002 32,312,737
780,101
684,930
104,465 111,14s
Rioh Fr'ksb & P January
44,810
374,609
45,522
352.755
Rio Grande Jet.. January...
8,282
337,400
413.158
8,830
Rio Grande So... 3d wk Mar
Rockl8l'dCo..... February.. 3,420,610 3,583,375 31,300,615 31,077,203
926,430
116,901 127,109
930,838
St.Tos&Grl
February..
StL&San Fran. February., 2,870,434 2,466,711 24,024,150 21,420.793
172,491 188,355 6,014,028 5,003,102
St L Southwest .. ithwk Mar
StLVan&TH.. February.. 190,225 184,977 1,019,772 1.502,804
931,203
74,972
74,341
877,065
San Fran&NP.. February..
Seaboard Air L.. 3d wk Mar 287,030 282,161 9,580,919 9,098.924
70,823
591.555
806,960
97,207
Southern Ind
FebruarySo PacifioCofi... February.. 6,822,827 5,918,438 63,703,229 58.9W.990
Central Pacific. January... 1,460,659 1,349,578 13,775,430 12, 8 17,305
GalHar &S A. January... 580,584 593,810 4,221,191 4,014,019
090.201
99,724
807,199
77,226
Gal Hous & No January...
12,547
100,023
10,300
96,570
GulfWT&P.. January...
101,517 161,821 1,144,280 1,108,105
Louis'a West... January...
417,904 473,036 2,990,794 3,013,301
Morgan's L & T January ..
36,645
292,660
288,202
N
30,084
.. January ..
Oregon & Calil. January... 312,659 283,974 2,576,550 2,344,219
65,523
681,749
565,101
70,159
So Pac Coast.... •January...
SoPaoRRCo.. January .. 2,619,233 2,503,802 19.658,844 17,932,714
3,105,092
SoPaoSS.Llnes January... 453,189
Tex&NOrl
302,477 287,550 2,253,290 1,917,719
January...
Southern Railw'y 4thwk Mar 1,250,002 1.175.92C 34,518,952 32,028.383
Torre H & Ind ... February..
161,657 146,139 1,408,003 1,248.105
42,000
430,089
390,306
Terre H&Peor.. February
50,155
20.214
482,462
Texas Central ... 4th wk Mar
613,201
17,297
Texas & Facinc. itnwk Mar 301.005 361,082 9,604,521 8,980,735
108,231
109.100
Tex S V & N W
9,900
February.
9,800
94,410 2.758,423 2,391,784
Tol & Ohio Cent 4thwk Mar
87,799
933,071
Tol
34,106 1.002,596
West .... 4thwk Mar
35,374
TolStL&
55,293
50,350 2,073,050 2,027,322
3d w k Feb
342,072
424.340
Tor Ham & Bull. 2d wk Mar
10,910
14,219
Un Pac System February.. 3,837,900 3,133,828 37,923,072 33,522.977
Virginia & So
388.752
43,492
422,883
February..
41,466
Wabash
4thwk Mar 583,122 554,986 17,311.098 15,711,282
Jersey Js Sea'e February..
220,644 210,944 2,957,000 2,725,900
Wheel &
ithwk Mai 123,493 104,283 3,285,981 3,082,040
110,514
Wm'sport&N.Br. January.
14,973
101.853
11,244
Wisconsin Cent.. 4th wk Mai
177,000 177,546 4,870,461 4,808,777
128,725
Wiightsv&T'n.. Febiuary..
120,840
18,183
15,819
Yazoo & Miss. V. February.. 732,690 580,762 5,517,558 5,050,358
Munis & No East
Manistique
1,598,076 Maryl'd & Penn..
803,575 JMexloanCenfl.t
894,375 J Mexican litem.
340,688
{MexioanRy
1,485,502 {MexioanSouth'u
1,918,766
41.000 1.752,401
18,000
937.896
19,000 1.040,315
inc.
37,596
68.117 1,459,314
4,829.249 46.506.459 41,901,231
254,550 2,008,953 1,859,080
474,283
50,730
454,668
72,547
52,800
1,156,000
231,523
1,620,532
1,349,57s
3,192
1,840,929
775,661
201,199
142,095
3,391,355
3,497,399
836.511
48,682
109.22S
Week
or
Earnings
dross Earnings
JMexican Railway
[Mexican Southern
'Jan. 1 to Mar.
'Apr. 1 to Mar.
JNational
of Mexico... Jan. 1 to Mar.
Northern Central
Jan. 1 to Feb.
RR
North Shore
ePennsy., East of P
eWestof
Pere Marquette
P&E
& E...
w
&
Mar. 1 to Feb.
Jan. 1 to Feb.
to Feb.
'Jan. 1
Jan. 1
Jan. 1
Jan. 1
to Mar.
to Feb.
to Jan.
Phila Baltimore
Wash..
Philadelphia & Erie
Pitts Cin Chic
St Louis.. Jan 1 to
Rio Grande Junction
Dec. 1 to
St L Vandalia & Terre
.. Nov. 1 to
Terre Haute & Indiauap .. Nov. 1 to
&
Feb.
Jan.
Feb.
Feb.
Terre Haute
Peoria
Nov. Lto Feb.
Texas
Pacific
Jan. 1 to Mar.
West Jersey
Seashore... Jan. 1 to Feb.
H
&
&
&
19
21
31
29
29
29
29
31
29
31
29
31
29
29
29
31
29
Current Year 'Previous Year
$1,303,000
1,051,413
2,892,958
1,416,915
032,052
16,819,298
Decrease.
2,390.264
1,901,356
449,179
3,624,928
97,918
774,942
653,850
203,886
3,095,307
421,354
$1,223,000
955,115
2,511,009
1,574,515
538,435
17,796,698
45.00O
2,552,399
1,972,856
547,902
3,533,670
88.121
758,572
609.046
191,234
2,968.506
409,854
trans-Missouri lines
Results on Monterey <fc Mexican Gulf are inoluded from March 1, 1S02.
\ Mexican currency.
1f Inoludes
Feb. 16, 1903, making length of road on which earnings are now reported 7,357, against 5,876 miles previously, b Inoludes the Hous. «
Tex. Cent, and its subsid. lines in both years and for botn periods.
e Covers lines directly ODerated.
/ Includes the Chicago <fe Eastern
w InIllinois in both years.
t Including Sav. Flor. & West, and also Florida Southern and Sanford & St. Petersburg Rys. in both years.
* Approximate for June.
cludes Lake Erie & Det. Riv. Ry. from Jan. 1 both years.
a These figures are for the consolidated oompany,
lnoluding Til ton Thosv. & Gulf and Tifton <fe Norttiea3tern
t
fiinoe
..
..
1904
4 th week of March.
11)03
S
Arbor...
Central oTGeorsrla
Chattanooga southern.
.
Ohio. Great Western
Ohio. Ind'plls A Loulev..
Chicago Term. Transfer.
;oiorado & Southern
Dsnver A Rio Grande *..
Detroit Southern....
Dulnth 80. Shore A Atl..
Evans. A Terre Haute...
Grand Trunk
Grand Trunk West ..
Det.Gd Hav. * Mil w
Hooking Valley
International A Gt.No..
Iowa central
Kanawha A Michigan...
Louisville & Nashville..
Mineral Range
Minn A St. Louis
Minn. St. P. A 8. Bte. M.
Mo. Kansas A Texas
Mo. Paolno A Iron Mt .
Central Branch
Mob. Jackson A K. CltyU
Mobile A Ohio
Nashv. Chat. A St. Jumis.
National RR. of Mexico.
Pere Marquettet
St. Lou Is Southwestern
Southern Railway
Texas Central............
Texas A Paolno
Toledo A Ohio Central..
Toledo Peoria A Weet'n
.
.
.
Wabash
Wheeling A Lak e Erie. .
Wisconsin Central......
890,321
86,458
128,228
108.268
136,883
75,389
65.285
42.272
36,989
962,484
1,030,815
16,430
17,517
83,606
71,284
143,441
171,200
492.347
484,213
1,861,000 1,447.000
49,000
46,000
3,460
6,355
267,519
296.635
287,726
257,049
336,583
296,403
312,855
304,869
172.491
188,355
1,250,002 1,176.920
17.297
20.214
301.665
361.682
94,410
87,799
34.106
35,374
583,422
564,986
104,283
123.493
177,546
177,000
11,186,316 11,142,054
Total (42 roads)
Net lnorease (0*40
199.278
52,800
1,156.000
231.523
3,192
201.199
142,095
48.682
134,006
410,900
42,672
72,407
50.033
p. o.)
30,000
"
249
20,553
16,1*20
9.379
33,788
23,900
6.121
7,398
12,' 186
41,775
28,625
10,104
5.283
68,331
1,087
12,322
27,759
"8,134
1903.
1904.
29'iie
30,677
40,180
7,966
15,864
74,082
"*2*,917
60.017
6,611
1,268
28.436
19,210
546
9
$
amount
is
a
loss
A
Ann Arbor, b
Feb.
Jnly 1 to Feb. 29...,
.
Bangor AAroost'k bFeb.
Year.
$
$
114,417
165,377
1,324,413 1,296,934
170,156
129,333
1,311,867 1,127,114
4,984
7,544
16,002
18,676
2,974
3,333
30,178
34,109
56,155
July 1 to Feb. 29...,
482,393
Belief onte Centr'l bMar.
1,003
Jan. 1 to Mar. 31
3,428
Bridgt. A Saoo R.b.Feb.
474
July 1 to Feb. 29...,
10,152
Central New Eng. b.—
Oct 1 to Deo. 31...,
176,135
147,324
21,963
July 1 to Deo. 31....
390,897
296,776
80,143
Chicago A Alton. a Feb.
897,166
775,661
268,672
July 1 to Feb 2y..., 7,882,985 6,809.415 2,615,234
Corn wall. a
Feb.
4,684
1,407
5,151
July 1 to Feb. 29....
15,193
50,887
59,242
1.088,677 1.140,698
372,116
fl Den.ARlo G'de.b.Feb.
Juiy 1 to Feb. 29..., 11,295,083 11,792.254 4,354,050
Ft.W.ADen.olty.bFeb.
157,460
170,021
34,576
July 1 to Feb. i;9
1,844,009 1,749,263
623,272
Georgia RR.a
Feb.
227,804
202,805
82,965
July 1 to Feb. 29.... 1,689,774 1,586,786
516,176
Gr. Trunk of Oan.. .Feb. 1,269,670 l,991,372deM20,689
July 1 to Feb. 29... 18,272,091 17,759,698 4,564,274
Gr. Trunk West... Feb.
302,696
344,548 def.32,605
July 1 to Feb. 29.... 3,634,947 8,215,987
398,630
Det.Gr. H. A Mil. Feb.
76,891
95,870 def.4,866
July 1 to Feb. 29....
886,593
816,476
213,323
Kan. City South. a.. Feb.
545,101
497,678
154,610
July 1 to Feb. 29..., 4,394,465 4,104.281 1,241,384
Lexlng'n A East. b.. Fob.
42,794
84.087
9,469
482,283
July 1 to Feb. 29....
358,862
110,206
Louls'na A Arban.aFeb.
65,291
38,105
y25,704
436,699
July 1 to Feb 29....
331,448
y 109,509
Louis v. A Nashv. b.Feb. 3,113,928 2.777,563 1,096,164
July 1 to Feb. 29.... 25.035,443 23,326,511 8,114,699
Manistee A No. E.a.Feb.
27,006
33,879
8,186
70,147
Jan. 1 to Feb. 29....
69,869
32,352
.
,
. .
.
.
,
—
Rentals, etc.
-—Bal. of Net Eam'gs.s
Previotis
Current
Previous
Year.
Year.
Year.
Year.
Int.,
$
Central. Mar.
Jan. 1 to Mar. 81....
Bridgt. A Saco Riv.Feb.
July 1 to Feb. 29...,
Cent. New EnglandOct. 1 to Dec 31....
July 1 to Deo. 31....
JD in. A R. Gr »nde..Feb.
July 1 to Feb. 29.... t
Feb.
Georgia RR
July 1 to Feb. 29....
No. E.. Feb.
Manistee
Jan. 1 to Feb. 29
Nashv. Chat. A St. L.Feb.
Jnly l to Feb. 29....
Nev. -Cal.-Oregon . . . Feb.
July 1 to Feb. 29....
Norfolk A West*n....Feb.
July 1 to Feb. 29
North Shore (CaL).. Feb.
Mar. 1 to Feb. 29
Per Cent.
>
A
.
628
12,671
18,627
46,786
215,380
2,202,155
def.2.859
def. 41,060
391,141
4,711,997
19.960
419,795
62,094
568,800
451,124
5,054,137
973
394,182
24,333
218,156
111,515
1,130,112
13,564
140,869
y8,636
y 100,3 14
916.572
7,828,683
16,864
27,762
$
81,238 *dl.25,756
805
915
507
433
698
1,299
2,513
531
def.57
4,054
4,168
6,074
37,726
3,136
7,326
121
8,527
39,129
38,486 *df.l5,6l6 *dL18,412
•4,146 •df.26,303
79,008
77,147
*96,011
1332,339
•107,685
t336,813
2,667,784 t2,620,454 •1,883,002 •2,243,789
* 12,093
*31,849
aSO.OOO
a52,703
a4l4,470 a408,277 •171,557
•248,605
6,409
6,050
1,776
10,814
12,819
12,101
19.533
15,651
149,581
151,448
77,983
79,974
1,197,452 1,206,819
613,132
609.928
2,162
def.422
2,192 def. 1,823
17,475
15,698
34,755
42,283
332,454
231,224
214,779
354.551
1,810,404 1,700,640 3,752,229 3,608,288
13,262 def.30,643 def.8,630
16,708
134,691
172,455
11,050
57,994
Shawmnt A No.—
Oct 1 to Deo. 31
Pittsb.
$
68.964
433,826
38,632
404,699
3,569
8,625
$
$
27,252
Feb.
Belli- fonto
Net Eat •nings. Current
Previous
Year
Year.
859
416,884
82,010
77.575
733,606 1,101,278
9,355.505 11,785,038
24,524
54,927
171,904
372,611
Interest Charges and Surpli&i—The following roads, In
addition to their gross and net earnings given in the foregoing, also report charges for interest, &c. with the surplus
ibove or deficit below those charges
Roads.
9
$
183,505
4,885
38,755
b Netearnlngs herejflven are before deducting taxes
Houston A Texas Central and its subsidiary lines are included
both for the month and for the period from July 1.
y Including other Inoome, total net for February Is $28,118 this
year, against $11,334 last year. From July 1 to Feb. 29 total net Is
$113,263 this year against $109,933 last year.
U Inoludes Rio Grande Western for both years.
Ann Arbor
Net Earnings Monthly to Latest Dates.—The table following shows the gross and net earnings of Steam railroads
reported this week, A full detailed statement, inoluding all
roads from whloh monthly returns oan be obtained, is given
onoe a month in these columns, and the latest statement of
this kind will be found in the Chronicle of Mar. 19,
1904, The next will appear in the issue of Apr. 23, 1904.
Year.
def.13,935
569,330
5,308.928
4,632
192,685
4,086
41,369
1
Det. Rlv.
of $328,953 or 0*91 per cent.
Roads.
839
52,230
563,678
5,562,683
231,422
1,816,747
1,770
57,981
Current
091
328,958
on the roads reporting in
— Gross Earnings. —
Current
Previous
227,564
1,810,584
def.776
def.169
a Net earnings here given are after dednotlng taxes.
,
Gross earnings (46 roads) 35,848,213 36,177.166
be seen that there
*
def.668
3,733
828.384
752,140
2,870,434 2,466,711
July 1 to Feb. 29... 24,624,150 21,420,793 8,132,645 7,688,943
St.LouisS'weat.b.Feb.
669,164
213,094
572,604
135,497
July 1 to Feb. 29
5,420,400 5,030.764 1,808,948 1,424,037
Seaboard A Ir Line aFeb. 1,161,856 1,031,086
283,738
278,284
July 1 to Feb. 29
8,696,348 8,272,200 2,147,504 2,182,593
ISouth. Pao.Svst. u.Feb. 6,822.827 5,918,438 1,326,971
920.757
July 1 to Feb. 29... 63,703,229 58,903,990 20,077,794 18,021,117
Union Pao. Syst.a. .Feb. 3,837,906 8,133,828 1,504.491 1,027,328
July 1 to Feb. 29... 37,923,072 33,522,977 17,502,461 15,409,199
451,816
496,078
44.262
Deercase.
Year.
$
A San Fr. (lnolud.
A E. Ill )a. Feb.
St. L.
86,606
3,000
2,105
For the month of March 46 roads show as follows:
Month of March.
Year.
.
Ohio.
97,411
* Includes Rio Grande Western.
t Includes Lake Erie
By. In both years. ff Figure are for week ending Mar. 26.
Year.
Year.
28,576
7,600
22,855
Net Earnings.
Current
Precious
Roads.
$
$
ManlBtlque.b
Mar.
2,470
3,484
Jan. 1 to Mar. 31....
11,769
16,032
Nash. Ch.A8t.L.b..Feb.
845,782
776,395
July 1 to Feb. 29.... 6,764,482 6,211.713
Nev.-Cal.-Ores'on.a Feb.
7,763
8,919
July 1 to Feb. 29
130,086
130,002
Norfolk A Wesfn.a Feb. 1,686,382 1,602,290
July 1 to Feb. 29.... 14,847,260 13,417,158
North Shore (rial.) bFeb.
30.321
83,284
Mar. 1 to Feb. 29
538,435
632,652
Ohio River A West. Feb.
14,684
12,751
July 1 to Feb. 29
127,830
138,956
Pitts. Shawmnt A No. bOct 1 to Deo. 31.
227.891
186,274
Rook Island Co.a...Feb. 3,420,610 8,583,375
July 1 to Feb. 29.... 31,866,615 81,077,203
St. Jos. A Gd. Tsl.b Feb.
127,109
116,901
July 1 to Feb. 29....
926,436
936,888
9
20,843
6<?,117
[Vol. lxxviii.
(
Decrease.
Increase.
a
47.274
227,854
60,400
1,126.000
253.878
2.943
221,752
125.97S
89.303
100.218
387,000
36,551
79,805
37,817
987,732
A Plttsb'K
Canadian Northern
Canadian Paolno...
the
.
,
ast year.
It will
•
—'urrentEarnings. —
Gross
Previous
Latest ttross Earnings by Weeks.— In the table which
follows we sum up separately the earnings for the fourth
The table oovers 42 roads and shows
week of March.
040 per oent increase in the aggregate over the same week
Buffalo Roota.
.
.
THE CHRONICLE.
1:386
Ann
—
..
.
,
71,128
19,242
156,661
July 1 to Feb. 29.
Southern Pac.8ys.Feb. (2.138.105
§21787760
July 1 to Feb. 29
8t. Jos.
1
A Gr. Isl'd..Feb.
85,123
18,703
151,971
•17,997
6,282
15,243
df.757.954
df.1204163
•79,492
36,224
220,640
After allowing for other inoome received.
These figures are after allowing for other Inoome andf or discount
and exohange. The sum of $10,000 is deduoted every month from
surplus and plaoed to credit of Renewal Fund.
for both years.
J Includes Rio Grande Western
$586,319 appropriated for betterments
§ These figures Include
and additions to properties and equipment in February, and $9,695,254 during period from July 1 to Feb. 29.
a Charges here include road- rental (paid by lessees) and other
*
t
deductions.
1 Houston & Texas Central and Its subsidiary lines are included
both for the month and for the period from July 1.
STREET RAILWAYS AND TRACTION COMPANIES.
Latest Gross Earnings.
Ghosh
EAJUONGS.
WeskorMo Our'nt
Tear.
9
February
17,948
Albany A Hudson
R'ys. Oo.||.
103,622
American
20,321
Aur. Elgin A Ohio. Ry February
Blnghamton St. Ry. February
15,864
Boston A Woroester.. January .. 14,115
Burllngt'n(Vt.)Trao. February
4,611
Oal. Gas A Eleotrlo.. February.. 273.466
February
34,634
Cent. Penn. Traot.
. .
.
Jan. 1
to
Prev'ut
Ourreni
Year.
Latest Dale
Tear.
9
16,965
97,566
15,371
4,424
18,047
81,058
32,734
10,614
30,839
94,476
9
35,975
295,543
42,457
82,628
14,116
9,664
649,979
70,792
37,034
Previous
Tear.
9
34,881
269,265
31,788
9,415
.62,096
71.086
22,679
63,633
86,262
193,797
180,475
(Muscatine, Iowa).. January ..
8,381
7,704
Cleveland Eleotrlo.
February.. 317,399 328.088
8,381
649.490
7.704
688,717
. .
Chloago
Gin.
Gin.
A Mil.
Eleo.. February..
Dayton ATol.Tr. FebruaryNewp. A Coving.
Light A Traction... February..
Light
Citizens' Ry.
A
.
..
..
.
Apr.
...
...
..
..
..
.
Current
9
.
February
February
February..
January
..
4thwk Mar
4thwk Mar
December.
February..
February..
Wk
Apr
3
9
55,307
23,425
S
27,456
11.685
55,208
6,745
104,211
16,563
13,041
87.122
33.131
{32,308
t
25,235
11.522
40.803
7,476
99,800
16,098
12,112
64.755
30,023
27,538
67,825
63.277
284,319
14.430
U27.437
27,333
7,108
5,790
New London 8t.By.Feb.
Jacksonville Eleo.Oo. February.. 21.101
Kansas City Ry.<& U. February.. 297,38b
Lake Shore Eleo. Ry February.. 32,140
70,662
Lake Street Elev . c . Maroh
9,570
February
Lehigh Traction
Lehigh Val. Trao. Co.
February.. 46,270
Street Ry. Dep
14,779
Eleotrlo Light Dep. February.
21,493
February
Lexington Ry
9.316
London St. Ry.(Can.) February
6,850
Mad. (Wis.) Traction. February
189,886
Met. West Side Elev.. Maroh
MIL Eleo Ry.A LtCo February 239,702
27,673
Mil. L t. Heat & Tr. Co February
Montreal Street Ry.. February 168,685
J
V2',879!<»i
32,030
70,264
8,799
50,040
14,333
18,836
10,716
5,784
180,911
218,243
25,304
141,800
198,324
18,473
19 5 67
19,587
6*,
m Net earnings here given
Musk. Tr. & Light. Co.
Street Ry. Depart. February
Eleotrlo Light Dep. February
Gas Department... February
5,481
5,089
3,466
3,500
4,305
3,910
Mew London St. Ry February.. 3,882 3,486
56,883 54,701
Nor. OhloTr. & Lt Co. Ft-bruary
35,333 25,797
Northern Texas Trao. February
Northwestern Elev.. March..... 115,233 108,609
Oakland Trans. Cone January .. 94,511 80,171
5,767
Ohio Cent. Trao. Co.. Deoember.
6,400
5,316
Olean St. Railway... February
5,431
6,793
Orange Co. Traction. February
Oreg. Wat. Po. & Ry. January .. 23,002 13,422
8,014
8,643
Peeks. I/t'gARR. Co. January
Philadelphia Co. and
.
.
.
December. 1,420,383
Pottsv. Union Traot. January .. 12.049
17,409
Rys Co.Gen.— Roads. February
February
1,970
Light Go's
Rochester Railway . February. 109,376
Rookford Belolt A
February
7,524
Janesville
Affiliated Corpor's.
Traot. Co
San Fran. Oakland
San Jose
January
r90,443
r31,789
r41,742
7,244
113,488
55,747
315,754
80,171
l6",873
15,813.701
18,778,035
12,037
17,074
2.173
95,988
12,049
34,799
4,018
222,428
12,037
36.056
4,177
197,575
9,576
January
Maroh
Seattle Eleotrlo Co...
South Side Elevated.
Springfield (111.) By..
ALightOo
..
99,319
38,522
52,412
189,813 174,066
148,448 136,383
241,354
39,734
116,080
189,813
410,207
201,906
38,622
116,017
174,066
399,018
46,713
42,045
774
880
98,926
10,517
64.068
24,987
41,188
19,747
261,555
26,175
545,147
983,349
88.000
25,615
1,009,313
85,720
9,698
65.830
22,679
83,535
20,791
240,642
February..
3
& Xenia Tr. WkApr
Syracuse Rap.Tr .Ry. January
64.068 65,830
Tampa Eleotrlo Co... January .. 24,987 22,579
Terre Haute Eleo.Oo. January .. 41,188 83,535
Tol.Bowl.Gr.A8o.Tr. January .. 19,747 30,791
Toledo Rys. A Light. February 124.037 115,148
Toledo A Western.... February.. 12,809
Toronto Railway .... WkApr 2 41,578 35,860
Twin City Bap. Tran. 4thwkMar 111,347 103,445
Union Trao. of Ind.. January .. 88,000 75.131
Union (N. Bedford).. January .. 25.616 26,211
United of San Fran.. February . 482,403 445,161
Va. Pass. A Pow. Sys.
54.723
Va.Pass.APow.Co January .. 64,723
33,322
Bloh. Pass. A Pow. January .. 33,322
23,443
23,448
ttlchmond Traot. . January .
Wash. Alex. & Bit V. Deoember. 18,963 16,776 230.258
January .. 14,154
dl42,374
West. Ohio By
73,012
36,065
Youngstown-Bharon February
..
\
480,046
912,277
75,131
26,211
917,987
i
t
Spanish
217,660
silver.
Tiiese are results for properties
c Results for main line.
D
owned.
d Figures here are from July 1.
n These earnings lnolude the Detroit
Huron Shore Line and
United Ry., Detroit A Port
A Amherstburg Ry.
the Sandwloh Windsor
r These figures are from Mar. 1.
u Decrease due to boycott by oolored patrons.
v These figures are for nine months from Jane 1 to Feb. 29.
the next will be given April 80.
— Gross Earning*. —
Current
1 ear.
Roads.
California Gas
tric
Corp.a
Jan.
1
Previous
Year.
—
Net Earnings.
Previous
Current
Year.
ElecFeb.
to Feb. 29
Year.
Cincinnati Dayton A Toledo Traotion.b...Feb.
June 1 to Feb. 89
International Tract. Co.
123,868
252,617
273,466
549,979
31,058
390,049
30,839
366,200
9,675
172,774
8,221
164,858
284,349
July 1 to Feb. 29.... 2,756,084
272,067
2,487,247
84,689
1,190,258
118,504
1,162,978
System (Buffalo) b.Feb.
etc.
— ^Jial.ofKet Eam'gs.-i
Current
.
Previous
Year.
Year.
Year.
p
v
$
tric
Gas
A
ElecFeb.
Corp
Previous
54.057
113,707
69,811
138,910
Jan. 1 to Feb. 29,...
Cincinnati Dayton A ToFeb.
16,283
ledo Traotlon
145,070
June 1 to Feb. 29
international Tract. Co.
126,491
System (Buffalo).. Feb.
1,059,641
July 1 to Feb. 29.
Feb.
18,711
Soranton Ry. Co
37,421
Jan. 1 to Feb. 29....
Year.
15,897
145,873
def.6,608
def.7,676
27,704
19,185
118,246 def.41,802
130,618
1,021,996
19,786
636
39,571 def.4,651
def.4,742
140,982
def.2,177
def.2,031
ANNUAL REPORTS.
—
The index to "Annual Reports," which
omitted to-day, will be found in Chronicle of last week.
Annnal Reports.
Pittsburgh Cincinnati Chicago & St. Louis Railway.
{'Report for the year ending Dec. 31, 1903, )
The annual report of President A. J. Cassatt is given on
pages 1397 to 1399 of to-day's Chronicle.
The operations, earnings and charges for fonr years and
the general balance sheet for three years were published last
week. See V. 78, p. 1271.
Maryland & Pennsylvania Railroad.
/ Report
for the year ended Dee. 31, 1903.
Brown says in part:
EARNINGS, EXPENSES AKD CHARGES.
President Jno. Wilson
1903.
1902.
$
$
127,818 119,294
165,602 14«.l37
6,369
5,201
6,109
6,543
4,460
3.919
Earnino*—
Passenger
Freignt
Mall...
Express
Miscellaneous
309,356 280,093
1003.
Expenses—
Total
21,214
BALANCE SHEET DEO.
$
Liabilities
.461,408
15,5^8
2,309
10,874
1,343
Capital stock
Co..
889
848
Supplies on hand
lilt truffle balances.
Individu Is & comp's
8,790
7,458
1902.
419
60
2,905
1902.
I
62,448
48,726
26,113
44,050
23,109
6,142
31.
1903.
$
Road & equipment 3,645,210
8.040
Cash
1.275
Cash for interest. . .
7,644
Agents' balances
1,843
U. S. P. O. Departm't
Assets—
Total
.
60,659
64,739
25,809
43.890
K2.648
217,643 203,458
91,712 76,640
70,498 70,498
Surplus for year
Adams Express
$
Passengers
Freight
Matnt. of equipment..
Maint of way. &c
General expenses
—
1903.
I
1002.
$
1,602,600
1,099,950
29,869
18,781
24,666
1 ,602,5''
Bonded debt
1 ,699,950
Accrued interest....
28,835
Vouchers for Dec...
Real estate mort'ge.
RR.
traffic
balances.
payable
Surplus
Bills
800
940
800
498
185,000
39,708
116,(00
29,174
2,585
.3,676,615 3,502,454
Total
3,576,515 3,502,454
-V. 78. p. 313.
Panama Railroad Company.
( Report for the year ending Dec. 31, 1903, J
President J. Edward Simmons says in substance:
Maintenance, Etc.— During 1903, In addition to the payment oat
of gross earnings of the $250,000 annually due the Colombian Government, and the redemption, with interest, of $140,000 of the
company's 4^ p. o. first mortgage bonds, outlay has been limited to
maintaining the company's property in an effective condition, and
completing Improvements begun in previous years. Construction
aooount has been increased only by the cost of the four new eleotrlo
transporters Installed at La Booa, while operating expenses have
been charged with the year's (1903) proportion of betterments completed in 1902, The condition of the property has been fully maintained and some Improvements added. The important outlay required
each year to maintain depths in the basins alongside the La Booa pier
may be regarded as a fixed charge, until the Panama Caual Is opened
to commerce. The total cost for 1903 was less than for 1902.
The average coat of labor and supplies was higher than for previous
Dividends, Etc —Dividends aggregating 8
$
A
Rentals,
years.
Street Railway Net Earnings.— The following table gives
the returns of Street railway gross and net earnings received
this week. The last general summary which we furnish once
a month, and in which we bring together all the roads from
which monthly returns can be prooured, was given March
26,
are after deducting taxes.
Current
Total
30,048
30,048
.
15,669
31,856
Net earnings
Intereston bonds
&.
January
15,463
33,636
Int.,
.
11,426
13,422
8,014
1,883.111
Sao Paulo (Brazil)
Tram. L't & Po. Co. February 118,000
Savannah Elect. Co. January .. 39,734
Scran ton Kallwav... February.. 68,830
Bpringn'd
rSl,844
T88.461
r46,793
7,853
116,590
72,964
330,179
94.511
r76,583
13,625
11,839
23,002
8,643
9,576
..
42,045
85,720
129
Interest Charges and Surplus.
is
16,265
14,987
8,055
645,482 568,731 1,778,838 1,578,263
Louis Transit.... Maroh
San Bernardino Val.
St.
17,609
37,540
b Netearningshereglven are before deducting taxes.
22,848
11,948
524,537
461,582
53,427
313,943
22,847
11,278
February..
19,247
82,770
—
20,725
13,864
536.782
497,814
57,734
352,393
$
def.136
Feb.
Jan. 1 to Feb. 29
Munole Hartford &
Wayne
$
333
548
A Light Co
d 11185,680 d 10871 ,753
"£7,302
Year.
$
3,486
7.244
52,412
111,017
Roads.
563,557
Tear.
Year.
46,713
98,926
Jan. 1 to Feb. 29
Feb.
Jan. 1 to Feb. 29
Springfield (111.) Railway
189,314
13,140
31,049
14,825
581,819
84,349 272,067
,
Previous
S.832
7,853
58,830
116,080
8oranton By. Co
California
2
Wet Earn ings.
Current
$
Roads.
11.958
Internat'l Tract. Co.
February
Interur.8t.8ys.(N.Y.) Deoember.
908,48?
130,959
189,780
1418,0071 1341,832
18,862
December.
A. Land Co
Houghton Co. St. Ry. January.. 14.430 13,140
Houston Eleo. St. Ry. January ..u27.4 37 31,049
(Buffalo)..
"7,476
201,644'
29.881
13,810
23,6feO
6,745
906,468
135,151
Honolulu Rapid Tr.
Indlanap. & East. Ry. February.
Indlanap.Shelbyvllle
A, Southeastern Tr. February..
S
52,183
—
—
Earnings.
Previous
Year.
'
Cleve.& So.W.Tr.Co..
Cleve. Painsv. & E...
Dan. Drb. & Champ..
Dart. & W'port St.Ry.
Detroit United Ry..n
Duluth Street By...
East. Ohio Traction
East St. Louis &8ub.
Elgin Aurora & Son.
Havana Eleo. Ry.Co.
J
1:387
— Gross
LaUtt Gross Earning*. Jan. 1 to LaUtt Da>e
Prev'ui Our rent
Prevxow
WeekorMo Oufnt Tear.
Tear.
Tear.
Tear.
Earnings.
Ft.
.
THE CHRONICLE.
9, 1904.]
gross
System
— ——
1
p. o. were declared out
and paid 2 p. o. on April 3, 1903, 2 p. o. on
o. on January 1, 1904.
of aooumulated earnings
Ootober 1, 1903, and 4 p.
The company's efforts for many years to recover a considerable sum
of taxes improperly paid to the State of New York were successful
this year, and a substantial amount was oovered into the company's
treasury.
Steamship Lines—The operation of the company's steamship line
has resulted favorably, despite the use of chartered ships, owing to the
laying up for repairs of S. 8. Advance and Finance, which are now In
progress.
The connection at Colon with six important European
steamship lines has been oontinued satisfactorily, and increased by a
resumption of relations with Velooe Company of Genoa, Italy, and
addition of the Austrian- Amerioan Line, thereby extending our service to ports on the Adrlatlo ooast. Regular steamship oonneotlon has
been established between Colon and New Orleans by arrangement
with the United Fruit Co.
Operation* under the new oontract with Paclrlo Mail Steamship Co.
to cover traffic onj the Pacific ooast north of Panama continues satisfactorily, although extreme quarantine regulations and destruction
of terminal facilities at various Mexioan and Central Amerioan ports
were Injurious; better results are expected this season. Operations
under the new agreements with Pacific Steam Navigation Co. and
Cia Sud Americana de Vapores were seriously hampered by the closing of serveral ports on the Paoiflo Ooast, south of Panama, to oom-
.
.
[Vol. lxxviix
THE CHRONICLE.
1388
merce because of an outbreak or bubonlo plague. A.n Important decrease In exports from that territory resulted with ounseqaent loss ot
revenue to the joint-carriers; Importation, however, was maintained,
and on an lDoreased soaie.
Befokts of Competition.— Reports are received from time to time
regarding theexp»oted early oompletlon of projaotedtrane-oontlnental
lines to compete with this company's railroad, but no such competition is actively in operation yet.
Republic of Panama.— Early in November, 1803, the Department
of Panama seceded from the Republlo of Colombia and successfully
established the Republlo of Panama, which new State has formally
been recognized bv nearly all of the leading nations of the globe. As
a result the Repuollo of Colombia was deprived of its sovereignty
over the territory in whloh the company's railroad and property are
looated, and the Republlo of Panama has taken the plaoe of the Republlo of Colombia in the oontraot of concession with, this oompany.
The Republic of Panama at once, through Its duly qualified Commissioners (then in this oity), gave formal notloe to this oompany that the
Republlo assumed for itself all of the obligations of that oontraot towards tnis company, whloh action was later ratified by their Government and formally oonourred in by the Panama RR. Co.
Statistics.— The earnings and income account have been:
EARNINGS, EXPENSES AND CHARGES.
1900.
1901.
1902.
1903.
Railroad earnings—
Passengers
Freight and treasure
Malls
$
79,806
81,431
1,130,663 1,105,318
54,221
55,477
92,810
1,215,326
57,034
92.904
1,127,321
50,770
1.239,345
1,085,434
1,865,170
1,332,673
1,270,995
2,187,985 2,304,779 2,697,843
498,865
458.037
476,086
2,253,0i'>7
9
Total railroad earns .1,207,571
Panama RR.
.
.
88. Line...,
.
920,414
982,062
Your main
line traok was never in as good condition as it is now!
It is laid with 85-pound and the balance with 70-
about one-half of
pound
steel rails.
In addition to maintenance of way, large expenditures have
been made on aocount of construction and equipment. No such large
expenditures aro contemplated for the coming year, the only work
now authorized being the building of two brandies about 11,300 feet
long, whloh will open up two new ooal basins, containing about 3,000
aores, which have not been heretofore worked, and from whloh are
guaranteed a minimum of 40,000 tons per annum. The cost of these
Is estimated at $20,000.
[The new work during 1903 on aooount of construction and
equipment Is stated as having oost $119,653, viz : New tquipment,
$<6,591; Cypher alignment, $69,015; new tracks, $19,573; remainder
scattering.]
Fornaoe Property.— The Saxton Furnaoe Co. failed and passed
Into the hands of reoelvers In December. Your company owns $52,500
of Its stock and Is a oredltor to the extent of $19,261. One-half of the
cost or the stock has been oharged to profit and loss, whloh it is
thought will more than cover any loss whloh your oompany may
make, espeolally as there is already standing to the oredlt of " Stocks
owned aooount" a profit of $7,500 on the sale of a portion of your
stock in the Colonial Iron Co. Your company holds $50,000 of the
bonds of the Saxton Furnace Co. as security for the debt of $49,261.
As the appraisement made for the receivers shows the property to be
worth over $200,000 more than all the debts against it, no apprehension is felt of your oompany losing any of its claim.
Dividends.—Two dividends of a^i per cent eaoh were paid on the
preferred stock and two of 2*s per cent eaoh on the common stock.
Earnings, Etc.— Results for four years have been aa follows:
receipts and expenses.
1900.
1901.
1902
1903
Ooal and coke traffic715,521
Broad Top, tons
997,686
685,110
1,119,128
Cumberland, tons
1,337,010 1,490,236 1,774,440 1,458,633
Receipts—
Coal and coke freights... $543,135 $493,803 $432,781 $378,288
192,026
241,724
267,803
Other freights
277,944
61,939
57,824
76,897
Passenger reoelpts
90,844
15.816
21,737
18,188
Mall express, eto
22,609
-
Total earnings
Add other receipts
402,136
2,664,051
2,762,816
3,196,708
2,655,193
41,356
Conducting transportat'n. 338,304
113,766
Malnten'oe of equipment.
68,814
do way and structures.
42,838
342,322
118,080
91,470
40,378
378,023
116.520
95,342
40,216
309,517
116,519
95,811
594,710
562,240
867.105 1,042,312
317,313
319,094
625,263
1,476,048
333,897
562,063
844,176
821.165
1,746,688
917,864
1,956,116
806,700
2,435,208
1,727,404
761,500
927,789
Subsidy to Republlo
Redemption of bpnds
Int. on BUbsidv bonds
"
1st mort. bonds....
Miscellaneous
25,000
312,060
62,940
103,645
18,650
25.000
302,880
72,120
99,833
11,432
25,000
294,240
80,760
70,200
31,712
25,000
286,080
88,920
75,926
5,100
Total
Balance, surplus*
516,295
401,069
511,315
295,385
501,912
259,588
481,026
446,768
p. o. in
1902; 4 p.
Total
Operating expenses—
General exp. ou Isthmus.
•
$860,246
$754,633
$643,904
$80,627
71,278
Z36.634
18,938
265,043
71,631
19,573
$70,880
68,409
62,680
18,200
212,964
63,727
24,029
$68,010
45,173
55,495
18,451
177,245
61,510
8,239
$77,951
38,854
47,799
20,479
157,610
61,268
$563,724
$370,809
1,250
$615,889
$344,357
1,250
$484,169
$320,464
$403,961
$289,943
4,500
7,500
$372,059
Total earnings
etc., expenses-
$345,607
$324,964
$247,443
$934,532
Operat'g,
Total RR. oper'g exp..
Panama RR. 88. op. exp..
Joint RR. and 88. exp....
Total
Net earnings
Charges—
Matntenanoe of way
Maintenanoe of equip....
Loss on oar-trust oars
Depredation
Conducting transport'n.
General expenses
Addlt'ns & lmprovem'ts
. .
Total expenses
Net earnings
Other income
,
Total
*
Dividend of 2
4 p.
o.
p. c.
paid in 1901; 4
in
o.
1903
Jan., 1904.
CONDENSED BALANCE SHEET DEO.
31.
1902.
1901.
1900.
1903.
Assets—
9
9
$
9
Road, equipment, eto....l2,6'Z8,715 12,572,010 12,552,501 12,148,199
158,549
176.413
187,683
175.251
Coal and supplies
185.576
221,621
255,617
215,857
Accounts receivable
10,000
82,000
31,000
Sinking fund
18,648
471,526
434,420
840,024
469,995
Cash
Adv'cesub.toRep.ofOol.
887,000 1,049,000 1,202,000 1,346,000
1,089,038 1,116,037 1,104,038 1,129,037
Bonds in treasury
114,457
55,571
129,598
Imp't and cons, aocount.
130,291
95,772
Miscellaneous
79,571
119,030
..15,581,879 15,894,625 15,963,495 15,991,646
Toial assets
Liabilitiis —
Capital stock
.
Funded debt.
Fund to redeem bonds.
.
.
Aoorued Interest
Isthmus drafts unpres'ei i
Coupons not presented.
Audited vouohers
La Boca terminal
aoot..
MlEoellaneous aocounts,
Bah
to profit
and
Total liabilities
-V. 77, p. 2281.
loss..
.
7,000,000 7,000,000 7,000,000 7,000,000
4,046,000 4,348,000 3,603,000 3,838,010
138,952
137,625
135,163
133,538
34,138
37,332
29,188
33.517
11.101
18,591
28,987
33,619
1,562
7,247
5,643
1,766
97,942
53,632
52,158
67,750
26,062
39,386
929,812
911,569
56.225
34,193
71,199
53,905
4,201,587 4,110,345 3,867,832
4,191,930
.15,581,879 15,894,625 15,968,495 15,991,546
Huntingdon & Broad Top Mountain RS. & Goal Co.
(Report for the year ending Dec. 31, 1903 )
President George H. Colket says in substance:
General Results—The gross earning* for the past year
Increased
$74,286 and the net earnings $26,452. For the first six months the
gross lnoreased $109,709 and the net $47,881. while for the last six
months there was a decrease in both of these items. Almost all of the
lnoreased net was due to the decrease In loss in operating the car
trust cars, amounting to $26,046. In 1902 the workings of these cars
were charged with twelve months' expenses but only oredited with
eleven months' reoelpte— the reason for which was explained in the
report for that year. While there was a decrease of 59,804 tons of
freight oarrled, there was an increase in the cost of its transportation
of $52,079. Under the per diem system, 20 cents per day is oharged
for each oar, whether it is running or not, and this oharge is made
even when the oats are in the shops undergoing repairs.
The amount reoelved for transportation of Broad Top ooal is greater,
and although there was a net deorease of 111,020 tons of bituminous
ooal hauled, there was an increase in freights of $21,223. The
amount of ooal oomtng from the Broad Top region lnoreased 79,649
tons, or 8*54 per oent, while the amount from the Cumberland and
West Virginia and George's Creek regions decreased 190,669 tons
(13'47 per cent). Cf the total amount of ooal carried, the percentage
of Broad Top was 45-2 per oent, against 39 7 per oent the previous
year.
Additions and Improvements.— There were laid during the year
16,231 feet cf new track, 1,400 feet being an extension of the Sandy
Run Branch to reaoh a new mine reoently opened, whloh in a short
time Is expeoted to produoe 600 tons of coal per day. The balance
was for new sidings and the extension of old ones. [Total aforesaid
expenditures, $19,573, lnoluded with operating expenses.— Eo]
Ihe most Important construction work dODe was In altering ths
alignment near Cypher— the objeot being to get rid of the most dangerous trestle on the line of your road, whloh Is 60 feet high and 500 feet
long, and at the foot of a grade 89 feet to the mile, with a 15 degree
curve. The cost of this work - over $69,000— was oharged dlreot to
profit and loss. After this trestle Is abandoned there will be but four
trestles left on your road instead of the thirteen two years ago.
Deduct—
Interest on bonds
$106,190 $106,190 $106,190 $106,190
Dividends on preferred.. (7) 140,000 (6)120,000 (5)100,000 (7)140,000
Dividends on oommon... (5) 68,587
$206,190
$118,774
280,424
x.9f,36j
$226,190
$119,417
301,076
y 33,604
Deo. 31 $359,903
$397,889
$301,076
$314,777
$67,282
397,889
Total
Balance, surplus
Add balanoe Jan. 1
Oharged
Profit
profit
and
& loss sur.
loss..
BALANCE SHEET DEO.
Cash
124,528
67,231
1903.
10*,654 6.137,247
1902.
Bonds (see Suppt.)., 2,230,500 2,280,500
Scrip, conv.lntost'k,
197
247
Bills payable
60,000
Int. and div. unpaid.
6,169 "6.156
H',007
24,607
Pay-rolls
33,643
Vouchers
41,970
Addlt'ntoH.&B.
con. car
6,
$280,424
31.
Liabilities—
t
$
Stock (see Suppt.).. 8,871,750 8,871,760
Profit
Total
JQ8,133
1902.
1003.
Construe, and equip. 5,814,024 6,804,6G0
Bills receivable
13,981
24,849
K7.420
22,(-35
Current accounts
Real estate
64,58;)
59,343
Materials & supplies
83,721
53,801
Stocks owned
34,250
40.000
Insur., car tr. cars...
1,546
2,045
$246,190
$1,263
279,171
and
tr.
T,
funds.
loss
Total
23,458
85H.906
23,455
390,-00
6,163,554 6.137,247
x Includes new alignment at Cypher, $69,015; depreciation in stock owned,
124,1160.
y Kepresonts new alignment.
z Includes (1) consolldated.car trusl 5 per cents: Car mileage, $155,245; sale
of old material, etc., $14,071; total receipts, $16i',815. Deduct, repairs, pay-rolls,
etc.. $108,762; principal paid, $68,0«.0; interest paid, $13,600.
Balance, deficit.
$19,0i7 (balance 5s outstanding, $204,000). (2) 14th series 4 per cents: car mileage. $32,341; sale of material, etc., $2,979; total receipts $36,820. Deduct repairs, pay rolls, fete $1.^,237; principal paid, $29,000; Interest paid. $10,670!
balance, clellcit, $17 5*>7 (balance 14th series 4 p. c. outstanding, $231,000)
Total deficit both issues, $36,681.— V. 78. p. 583. 229.
United Hallways & Electric Co. of Baltimore.
( Balance Sheet of Dec, 31, 1903 J
The income account for the late calendar year and the remarks of President Hood were given in the Chronicle of
The comparative balance sheets of Dec.
Feb. 27, page 810,
31, 1903 and 1902, follow:
CONSOLIDATED OBNEKAL BALANCE SHEET DEC. 31.
Assets—
Road, equipment,
1903.
$
1902.
$
66,036.6Ca 64,498,928
etc
Stocks and bonds
owned
200,841
539,084
2,697.813
1.157,598
receivable
132,718
Supplies and coal.
1,064.011
181,814
Cash
Bills
100.787
and acoounts
1803.
Liabilities—
Common
stock
Preferred stock...
Funded debt
Accounts payable
Outs'g tickets. Ac
Bills payable
Accrued interest.
Accrued park tax.
Accr'd Int. on Incomes and div
on pref. stock...
Surplus
Total
—V.
68,175,!:4a 68,543,803
Total
1902.
$
$
15,000,000 16,000,000
64,806
65,306
51,382,691 51,381,694
214,200
146,660
9,638
8,875
726,386 1,047,1:59
426.238
426,813
87.966
86,605
1(5,(1(17
217,868
46,667
38S.439
68,176,816 68 513,303
78. p. 816.
United States Steel Corporation.
(Earnings for the quarter ending March 31, 1904.J
The following financial statement of the Corporation and
its subsidiary companies, showing the earnings for the first
quarter of the current calendar year (the results for March,
1904, being ;partly estimated) was given out on Tuesday,
after the regular monthly meeting of the directors. At this
metting the ueual quarterly dividend of \% p. c. wtis declared
on the preferred shares. The earnings, as given out for
1904, are made up on the new basis described in the last
:
Apr.
9,
J1
.
THE CHRONICLE.
1904.]
1389
bonds and
payable. Jan.
annual report (V. 78, p. 1174), whioh disturbs more or lees includes aoorued interest on paid, and atdividends of this report 15.
the date
These items have slnoe been
the
the comparison with the results for the corresponding quar- outstanding acoounts and vouohers payable, bond Interest aooraed
ters of the earlier years, which we have annexed below. The but not dne, aggregate less than $125,000. The company has promptly
"net earnirjgs" in all cases were arrived at after deducting paid all interest and sinking fund charges under the mortgages,
The company owas no borrowed
its outstanding bonds.
each month the cost of ordinary repairs, renewals and main- securing
money and has outstanding no notes payable. During the current
on bonde and fixed charges of year, although the expenditures in improvements and permanent intenace of plants and interest
subsidiary companies.
UNFILLED ORDERS OS HAND.
4,136,961 tons
March 31, 1904
3,215,123 tons
Deoember 31, 1903
5,410,719 tons
March 31, 1903
5,347,253 tons
December 31. 1902
2,831.692 tens
November 1,1901
INCOME ACCOUNTS FOB QUARTBES ENDING MARCH 81 (MARCH,
1904, PARTLY ESTIMATED).
1802.
1903.
1904.
Net earnings$2,868,218
4,540,673
5,800,000
$7,425,775
7,730,361
9,912,571
$8,901,016
7,678,583
10,135,858
$13,208,886
$25,068,707
$26,715,457
$1,240,367
For nnklrg funds
1,717,778
Depreo. and reserve funds...
5,802,942
$1,055,000
2,821,717
3,800,000
$796,621
2,644,080
3,800,000
$8,761,087
$4,447,799
$7,676,717
$17,891,999
$7,240,701
$19,474,756
$6,304,919
$8,929,919
5,083,025
vestment greatly exoeed the amount, but $44,313 has been obarged
to capital account, while in repairs and expenses of consolidating
your Aurora and Cleveland plants, experimental work and the writing offof obsolete material, over $118,000^ha9 been charged to profits
and surplus
Expert Examination— The direotore have employed J. N. Gunn,
of Gunn, Richards & Co., engineers and acoountaLts of New York
City, to make a full report, reviewing the condition of the business today and what has been accomplished within the last two years. Any
information from their report will be Riven the shareholders on application.
The income account for the calendar years 1902 and 1903
and the balance sheets of Dec. 81 follow:
$8,920,708
5,092,726
January......
February
March
Total net
Deduct—
Interest
Total deductions
Balance
Dividend on Stocks—
Preferred (1% percent)
Common
(1
per cent)
$6,304,919 $14,012,944 $14,013,434
def.$l,857,120sur.$3,379,045sur.$5,461,S22
Balance
The net earnings for the last three months of 1903 were as
follows: October, $7,875,141; November, $4,069,901; December, 18,292,140. V. 78, p. 1172, 1165.
Total
{Statement for year ending Dec. 31, 1903 J,
At the annual mee ing on Tuesday the following statement
was made:
The campaign statement submitted
at this date is necessarily approximate because of the fact that a large amount of sugar is on hand
and unsold, being held to supply the demand of the company's home
market. The price to be received for these BUgars le, of oourse, estimated, and the final actual result may, therefore, differ slightly from the
figure herewith given.
The partly estimated
results for the season ending June 30,
1904, are as follows, the beets sliced during the current campaign amounting to 315,490 tons, from which were produced
81,053,100 ponnds of refined sugar, as compared with a production of 115,880,300 pounds in the previous year:
SEASON OF 1903-04.
$3,498,555 Balance forward
2,503,082
Cost of maintenance...
$995,473
461,962
Balanoe
Est. factory profits. $533,511
$995,473
The estimated factory profits as above and the approximated charges against the same compare, it is understood,
with the statements for earlier years as follows:
Tear end. Factory Gen. expen. Depretiat'n
June SO.
6c interest.
allowance.
v'oftts.
1904... .$538,511 $260,000
(1)
1903.... 725,671
344,000
$63,938
1902.... 491,308
225,000
(?)
1901.... 42IS.635
130,000
i»)
-V.
Preferred
dividend.
Charged
$240,000
240,000
240,000
240,000
$2,042
off.
Balance,
surplus.
$31,46tf
77,733
26,308
55,685
78, p. 230.
Chicago Pneumatic Tool Co.
( Report for year ending Dec. 31, 1903 J
President J, W. Dnntley says in part:
Concentration of Plants.— Early in 1903 our plant in Aurora
was shut down and the majority of tools and machinery moved to the
Cleveland plant. This was in continuance of the poiioy of concentrating production so as to reduce expenses. The directors have preferred to charge all of this cost of combining the Cleveland and Aurora
plants against the surplus this year. The productive oapaoity of the
plants at Detroit, Cleveland and Franklin has been greatly Increased,
bo that the oapaoity of these three is materially greater than the
previous combined capacity of your five plants. In addition' much
has been done to standardize the various processes of mannfaoture,
which further increases oapaoity and cheapens the oost.
Broadening Business
feature of the year has been the development of new tools in order to reaoh new lines of trade, and thereby
render more stable the business. New types of hammers and drills,
special tools for foundry use, and a oomplete line of rook drills, suitable for mlDlng, quarrying and excavating rook, are now ready for the
market. In order to meet the new conditions thirty-two new types of
compressors have been added to the original line of fifteen acquired
by the company, whioh places ns in position to meet all requirements.
Retiring Unsatisfactory Tools.— In further pureuanoe of the
poliov of offering for sale only the most effioient tools, the management has taken baok many tools put out by the old companies and
replaced them with improved tools, making liberal allowances for the
old tools. The old tools so returned have not been valued in your inventories. These returns were notably large in the case of the Stardard, Chisholm
Moore and Franklin tools. The air compressors
have been completely re-deslgned. All the oost of old tools taken
baok and of redesigning tools and compressors has been charged
against profits.
Foreign Subsidiary .— The foreign comnany [Consolidated Pneumatic Tool Co. of London, V. 76. p. 379]. of which yon own the entire
stock, has expanded large sums for the extension and broadening of its
field of operations, and its earnings have accordingly been reduced to
that extent. These expenditures were deemed necessary In order to
develop f ature business.
General Resultb—The effect upon our business for the year, due
to the many differences between employees and employers, has been
notable. Shipyards, building trades, oar works and structural
iron and steel companies have shown a very marked reduction of expenditure for tools and equipment. Notwithstanding these conditions, the net profits for the year ending Dec. 31, 1903, are shown to
exceed $700,000. subject to deduction of fixed charges. These net
profits, as above stated, have been determined after charging to oost
of operation the cost of the development and introduction of new
lines of tools, and the retiring of old and unsatisfactory tools.
Financial Status.—The quick assets on Dec. 31, 1903, aggregated
$1,246,028; against these were current liabilities of $239,000, which
—A
&
-
$701,464
Total deductions
Undivided
BALANCE SHEET OF DEC.
Assets—
Real estate, plant,
$
1P03.
co.'b
.
&c.
1,119,125 1,096,925
& bills receivable, leas reserves.
595,537
120,876
532,889
120,789
.
Reserves
Sinking fund
Surplus
Accts.
578,287
1902.
LiaUliUes•
Capital stock Issued 1,032,800 6.03I.60O
1st mort. 6s issued .. 2,300,010 2,300.010
Interest on bonds
58.3 io
108,882
i)i v. pay. Jan. 15.... |
120.631
Accts., etc., payable. 127,861
17S.5M8
I
patents, good will,
etc., less reserves.6,344,208 6,608,C09
(cost)
31.
1902.
1903.
Stock other
$783,353
$113,706
profits
16.994
120,875
113,706
42,764
60 0(0
113,706
448,217
212,108
Insurance and taxes
36,801
prepaid, etc
American Beet Sugar Company.
Gross earnings
Operating expenses
1903.
1902.
$701,464
$897,059
$115,000
$115,000
Deduot— Bond interest
Dividends
(6%)361,980 (8%)463,264
Sinking fund
50,000
50,000
Depredation, reserve for bad debts
174,484
and for allowances, &c.,&c
165,089
Net profits
Sinking fund
Inventories
Cash
Total assets
Total
8,816,171 8,889,600
liabilities.. 8,816,171 8,8!r9,e00
There are also unissued $1 ,467,100 stock and $200,000
Ss.-V. 78, p. 345.
first
mortgage
Bell Telephone Co. of Canada.
{Report for the year ending Dec. 31, 1903. J
The report, signed by President C. F. Sise and Vice-President Robert Mackay, says
During the year 8,691 subscribers have been added (contrasting
with 5,623 In 1902), the total number of sets of Instruments now
earning rental being 57,172. The company owns and operates 421
exohanges and 672 agencies. 4,121 miles of wire were added to
:
the long-distance system in 1903 of these 1,738 are in the Ontario
department, 1,260 in the Eastern Department and 1,123 in the Northwestern Department. The long-distance lines owned and operated
comprise 30,969 miles of wire on 7,685 miles of poles. The 10,000
shares of new stock offered to the shareholders in 1902 at 25 per cent
premium have now been paid up, making the capital $8,000,000. The
premium on this stock received during the year amounted to $151, ItO
and has been carried to the contingent acoount. From the balanoe of
revenue aocount ($138,078), $2*,563 has been carried to insurance reserve acoount, $22,979 to accident insurance reserve acoount and
$50,000 to contingent acoount, leaving balance of revenue to be carled to 1904, $40,536.
The earnings and expenses, etc., and the balance sheets
compare as follows
;
REVENUE AOCOUNT.
Receipts-
Exohanges
(less
1903.
.$1,701,016
644,671
12,557
164,032
1902.
$1,413,219
534,582
11,837
125,496
.$2,522,275
$2,085,134
$1,787,429
21,442
20,488
100,000
10,765
$1,436,888
$1,940,123
$582,152
Jan., '04, and Jan., '03)
467,510
$1,580,852
$504,282
411,860
$114,641
$92,422
unearned rentals)
Long-distance lines
Private lines
Miscellaneous
Total receipts
Expenses —
Operating
Legal
Insurance
Bond
interest
Miscellaneous
Total expenses
Net revenue
Less dividends
(inol.
Surplus for year
BALANCE SHEET DEO.
1903.
1902.
$
Assets—
Plant and patent ac-
count
Stores on hand
Heal estate
Stock in other companies
Due from
agencies.
Debtors and cash...
31.
1903.
Liabilities—
Revenue account....
Unearned rental res.
Insurance reserve...
Accident reserve ...
817.26K
H7.445
265.813
Bond
Int. reserve....
Sundry creditors
Total
Total
10,804,183 9,210,722)
New Stock,— See V.
i
Stock account
$6,000,000
Bond account
2,000,0
Contingent account. 1,316,170
8,098,314 6,952,700
398,346
276,466
1.045,179 fe32,!c40
868,006
93,f40
870,898
20,41..
17,940
97,099
8,613
40,?36
341,751
175,000
lfO?.
$
5,895,340
2,000,000
1,116,010
23,130
292,f8«
150,000
7i\<>00
50,0(10
£5,000
8UU.725
25.C00
18V.030
10,864,183 9,210,722
78, p. 1111.
Electric Storage Battery Co.
(Statement for the year ending Dec. 31, 1903.
President Herbert Lloyd signs the printed sheets upon
which the following U furnished:
INCOME, ETC.
Total net inoome
Less dividends— 6 p.
5 p.
Surplus
Previous surplus
1H03.
$1,601,592
1902.
$1,113,200
587,413
ai n,o.(
»^. 4S0 ^
225,000
1901.
$.900,243
$689,157
$300,772
2,283,477
2,022,582
$87,830
2,120,439
o.
on oom
J
o.
onpref....
J
587,4'.'.7
225,000
Total undivided surplus
$2,972,634 $2,323,355 $2,208,269
Note.- The total "net inoome" from all souroes before deducting
dividends was oifioially reported for 1900 as $1,317,885 (inoludlDg
$168,105 from "outside securities and other Income") contrasting
with $924,523 in 1899 and $299,670 in
1898— Ed.
J
THE CHRONICLE.
1:390
Tne
FINANCIAL STATEMENT.
Current Assets —
Cash on hand and In bank
$521,504
$106,234
1,500,820
Accounts receivable
210,529
Notes receivable
Inventory accounts— raw materials, stock In process and fin-
1.00J.568
47,066
1,652,063
88,687
574,329
467.013
Total current assets
Current Liabilities
Aooounts payable, not yet due.
—
$2,806,673
$2,147,467
$2,314,027
107,011
63.29S
over
,»»„.--« .„ nr -„, e
$2,699,662 $2,084,172 $2,26/,046
CONDENSED BALANCE SHEET DEO. 31, 1903.
sur. of current assets
Liabilities
$283,483
1,750,575
2,839,832
agreements
Patents,
13,564,867
and franchises
MoiUages
OashT...
Accounts receivable..
Notes receivable
Inventory aoo'ts, raw
material, stook,
Total assets...
-V. 78, p. 1170.
<fec.
71,000
357,495
1,500,820
240,529
—
$153,700
17,546,300
107,011
Aooounts payable
1.7S8
Unpaid dividend scrip
Preferred stook
Common
Sundry
stock...
4/24
liabilities
2,972,633
Surplus
Reserved for depre'n.
bad debts and unfinished oontraots
230,523
Total liabilities
$21,316,429
707,829
.$21,316,429
two years follow
$203,087
170,700
$437,290
$373,787
$75,000
$75,000
Deduct— Dividend 8 p. o. on preferred stock
Improvements and allowance for depreciation
xl96,846
In securities, raw materials, eto
Balance, profit and
loss,
and Underwood Nazro Secretary; main
No dividends nave been paid.
The
office
STATEMENT FOE TEAR 1903.
.
.
Total
$348,960
Total
Cash
in
bank
Accts. receivable...
Bills receivable
Plsr iron, ore, etc...
83,883
178,450
266
252,857
105, «31
133,884
107,550
314,876
Advance royaltv &
35,934
pay 'ton orecont's
Total.
-V.
....5.372.896
$348,960
1802.
1908.
1902.
6,620,867
Liabilities—
$
$
2,501.000 2,600,000
Preferred stock
..2,281.400 2,281,400
Common stock
469,801
219,984
...
Bills payable.
Accts. payable and
.
pay
171.013
168,110
10,084
25,000
165,443
16,857
37,600
128,639
5.372.895
rolls
6,620,867
Fund
for depreciation, etc
nivs. payable Jan. 1
Proat ana loss
Total
78. p. 705, 50.
Pittsburgh Plate Glass Company.
{Report for the year ended Dec.
Barrels.
Oil Produced from Block 23—
.535,555
Bpindletop, seven wells, pumping
24.987
Received as royalty from six wells
28,151
Produced from five wells at Sour Lake
Disbursements
Receipts—
Devel. and operation at
Cash and accounts re$65,999
Bpindletop
ceivable Jan. 1, '03.. .. $44,105
77,020
At Sour Lake
215,016
Salesofoll
62,174 Exten. & op. of pipe line. 17,172
Receipts of pipe line
14,617
16,923 Gen. exp. and salaries...
Reoelpts from royalty...
4,539
Sour Lake tankage
and
Extra purchases
2,500
6.376 Saratoga land
sales.
4,422
4,366 Trembley lease devel
Aooounts payable.
16,172
Hogg-Swayne wells
119,013
Bonds and interest
21,227
Citizens' Nat. Bank
6,349
Cash and aoots recel v
$128,639
$165,443
Deo. 31
Assets—
$
$
Real estate, plants
and machinery... 2,7«1,936 2.842,900
Stocks and bonds.. 2,100 .5»2 2,076,002
Beaumont.
results for the calendar year 1903, it is said, were:
170,148
x Includes actual expenditures during year for oapital improvements, $137,553; deduct allowance for Improvements and permanent
repairs included in operating ^expenses. $58,156; balance, $79,397.
Add allowanoe for depredation of securities held, raw materials, etc.,
$117,450; total, $196,000.
From the above [foot-note] it will be observed that there
was actually expended in permanent improvements and
betterments (all ordinary repairs being charged to operating)
$137,553, more than 90 p. c. of which represented capital
improvements; but the entire amount was charged to profit
and loss. The item of depreciation represents the amount
necessary to reduce the valuation of stocks and undelivered
tonnages of raw material purchased in 1908 to their present
market value: also to reduce the amount representing on our
books securities held in corporations under our control.
BALANCE SHEET DEC. 31.
1903.
National Oil & Pipe Line Co., Beaumont, Tex.
{Report for the year ending Dee SI, 1903
The company was organized under Texas laws early in
1901 with $5,000,000 of authorized capital stock in $1 shares
(part of which were offered to the public at 75 cents per
share), and purchased all the Beaumont property of the
Texas Western Oil Co., the Beatty well, etc. The{ company
also owns storage tanks at Beaumont and Port Arthur and a
pipe line connecting those cities. In 1902 a bond issue of
$475,000 was made. C. H. Moore of Galveston is President
1902.
1903.
Net from oper., lnvest's, etc.. less $46,575 in 1902
and $79,878 in 1903 charg'd off for deprec, etc. $308,6r>i
128,639
Add balance of profit and loss Jan. 1
46,982
liabilities
Plant investment
Treasury stook
Stocks &bds. owned..
results for
Vol. lxxviii.
Total
707,829
ished produot
|
1901.
1902.
1903.
$357,495
Net
)
:
31, 1903.
President John Pitcairn says in substance:
Business.— The volume of business has been considerably inoreased
during the year, notwithstanding lower selling prloes for a large portion of our products. The total sales for 1903 amounted to $16,820,198. The condition of the plate glass industry is little, if any, different from that of a year ago, and the remarks in my last annual report
are equally applicable to the present situation.
Acquisitions.— The inorease in Investment account is represented
principally by the balance of purchase money for the Oouroelles Plate
Glass Worfcs ($50,000 only on aooount having been paid in the year
1902); the payment of our proportion of the increase of $800,000 In
the oapital stock of the Patten Paint Co., issued for the ereotion of a new
paint f aotory at Newark, N. J; the payment of balances due on contracts
for the Philadelphia and Davenport warehouses; the improvements to
the Charlerol Goal Mine; the Installation of a gas-pumping plant at
Ford City, and the purchase of the Colonial Brlok Co. The purpose of
the last-named company is the manufacture of high-grade bricks from
the waste materials of our plate glass factories, whloh have been
accumulating for many years. While the investment in this property
is at present Insignificant, only a small plant having been ereoted at
Kokomo, Ind., it is our Intention, if our expectations as to the profitableness of the venture be realized, to ereot a similar plant at eaoh of our
factories.
Empire Steel & Iron Company.
{Report for the year ending Dec, SI, 190S.J
President Leonard Peckitt says in substance :
The year 1903 will be reoorded as the culminating period of five
years of the greatest aotlvity ever known in the iron and steel trade.
The top notch was probably reaohed in January, when 2X Pennsylvania Iron, although quoted at $23 in Philadelphia, was practically
unobtainable, fnrnaoes being busily engaged in filling orders
brought over from the period of the anthracite coal strike, and therefore nnable to avail themselves of the high prices. This situation was
made worse by demands of labor for additional wages, and by the end
of May the cost of iron had inoreased from five to six dollars per ton,
which resulted in many old orders being filled at a heavy loss. From
January to April things went along in the same way— domestic iron
almost unobtainable, and foreign pig seized upon as fast as unloaded,
with every indication of continued prosperity for at least the remainder of the year. Then suddenly a change came, and by midsummer the demand for pig metal stopped like a flash. With praotloally every furnace in full blast, and foreign iron pouring In, the inevitable was so plain that in October the producers of this district
agreed on a reductlon'of 40 p. o in the monthly output, which together with similar action taken by the Central West probably pre-
The reconstruction of the Couroelles Works will soon be oompleted.
The reconstruction of our No. 4 Works at Ford City is approaching
completion. Inasmuch as this work! involved the dismantling of the
old maoblnery,
pense aooount.
all of
the cost of reconstruction has been charged to ex-
Firbs.— We have suffered severely during the year from the oomplete
fire of our Chicago & Cincinnati warehouses, and from
fires at our Omana and Pittsburgh warehouses. The dlreot loss at Cincinnati amounted to about $150,000, and while the dlreot loss at
the other points was not large, the disorganization resulting has been
destruction by
serious.
Work of Present Management.— When
the present
management
1897 took control the assets consisted principally of nine plate
glass factories, some of whloh were antiquated and out of repair, the
stook sold as low as 47 cents on the dollar, the surplus acoount
amounted to $1. 105.946, no dividends had been paid, and the oompany
had a bonded debt of $2,087,000. Since that time the surplus account
has been Inoreased out of earnings to $8,856,161. whloh, with the fund
derived from the Inorease of the capital stock, has been used for the
payment of the bonded debt, the establishment of oor branch house
system, and the purchase of the properties; and interests in the properties, particularly mentioned In the annual reports; in addition to
this, the sum of $3,226,997 has during the past five years been disin
tributed In dividends to the stockholders. The suooess of the company
due to a large extent to the faithful and concentrated efforts
of a board of directors of praotioal men, with years of experience In
the glass business.
vented what must otherwise have been oomplete demoralization.
The year ended with 2X Iron In Philadelphia selling at $15 25, or $7
to $8 less than in January, and whilst everything possible had been
done to rednoe costs, praotloally all the active furnaces east and west
were operating at a loss.
From the beginning of the depression your management began the
Is
curtailing of output, whloh was effected as rapidly as conditions
would permit, and having a considerable tonnage of iron already
Prices of all raw
sold, sales were restricted to a minimum.
materials were on a high level, and with a good portion of our requirements under contraot for the entire year, it was almost Impossible Immediately to adjust costs to the new selling basts; two outs of
10 p. o. In labor being made, whloh were aooepted in a reasonable
Profits
spirit by the employees.
The directors considered It advisable to continue the Improvements
at the ore mines in New Jersey, with the result that by the end of the
year the installation of the new equipment had ,been praotloally completed, and the underground work was well under way. In spite of
this Improvement work we seoured from the mines almost double the
tonnage taken out in the year previous, the output being 107,905
The total year's produotfon of pig iron from our furnaoes
tons.
amounted to 245,513 tons, or 69,000 tons more then the produot of
1902.
Outside of the installation of two additional blowing engines, one
eaoh at Toptonji and Reading, and the purchase of a new switching
locomotlvo for the Crane Iron Works, praotloally no expenditures
were made in the blast f urnaoe department during lhe year, excepting of course the usual wear-and-tear repairs, whloh wero charged to
the cost of pig iron. Out of the ten furnaoes owned by the company
five are now In blast, and produoing about 13,000 tons of pig iron
monthly, and whilst the market In general Is In bad shape, we hope to
continue these plants on the aotlve list with some profit to the oompany.
The
profits for three years past were as follows:
1901.
1902.
1903.
$973,104
$1,503,638
$1,251,347
1900.
$2,026,607
Dlvs. on ($150,000)
(12%I18,000 (13%)18.000 (U%)18,000 (12%)18,000
pref
Dlvs. on common... (6%)740,556 (6%)721,948 (6%)591,000(6%)591,000
$214,648
Bal., sur.fory'r.
$894,638
$511,398
BALANCE sheet dec.
$1,417,607
81.
1900.
1901.
1902.
1903.
$14,225,466 $13,602,832 $13,026,285 $12,099,090
2,537,365
2,433,416
2,924,848
3,732,337
594,068
5»4,966
Material, etc., aoots.
994,600
775,535
Cash, bills and ao2,019,661
3,105.242
4,092,439
oounts receivable. 3,806,127
AssetsProperty
Plate glass, cto
Total
Liabilities
—
$22,758,531 $21,g95,654 $19,169,858 $17,280,179
Block, oommon ...$12,342,800 $12,342,600 $9,850,000 $9,850,000
150,000
150,000
160,000
Stook, preferred....
150,000
Bonded debt
&
bills
ble.
10,000
10,000
1,822,612
182,000
5,235,567
acots. paya-
3,409,780
2,261,451
8,019,663
6,856,151
6,641,603
6,130,205
Bal.onooalprop'ty
Surplus
Total
-V.
78, p. 705
$22,758,531 $81,895,654 $19,159,868 $17,260,179
— —
Ape.
9,
THE CHRONICLE.
1904.
Tamarack Mining Company.
(R?prt for the year ending Dee. 31, 1903. J
The company produced during the year 15,286,093, and
profits
aad
and
assets
Tear.
1903
1902
1901
1900
1899
1898
1897
1896
1895
1.744,599
1,820,548
2,099,936
2,211,588
1,862,507
1,835,810
1.377,492
1,113,008
1,941,907
2,627,954
3,299,077
2.35Z.099
2.381.389
2.267,341
1,748.188
1,515,173
were as follows:
Dividends
Net
Balance,
paid.
income.
surplus.
$tfO,O0O
$2l7,7l2x
$307,713
197,:-iOHx
197.30^
807,406 l,200.000def.392.594x
179.141
1,199,141 1,020,000
600,000
740,511
140.511
518.H82
480,000
38,882
360.000
431,531
71,531
360,697
360,000
8,697
400,000
402,165
2,165
liabilities
Total
Receipts from
cost.
copper, etc.
$1,734,510
$2,042,5*23
x In addition $22,617 was spent for oonstruotion In 1S03, $154,878
In 1902 and $281,240 In 1901.
A8SKT8 AND LIABILITIES DEC. 31.
Assets—
&
on hand
1902.
*
1903.
I
Liabilities—
Acooums payable at
Casta accts. ree'rf
copper
(sold).
H. &C. RR. bi>nd«.
L. Sup. smelt'*; si I.
Mln. Range Hit, stk.
.
Cash and accounts
mine
70P.6R0
99.100
109.'
513,165
9v,OH0
100 0"
250,000
00
I
3U4.700
mme
1902
*
184,046
74,400
211. 150
825,362
Accounts payable ut
Boston
753,401
Dividend payable
681,986
Bills pay. at
Jan..
«3. a 40
30., 95^
Boston.
90 000
19(14
275,195
243.729
atmine
Supplies at
1903.
$
259,135
91 ,9R3
Balauce of assets...
777,031
Woods and timber
lands
Total assets..
...1.S78,8".9 1,618,478
Total
liabilities.. 1,878,879 1,618,478
GENERAL INVESTMENT NEWS.
RAILROADS. INCLUDING STREET ROADS.
Allegheny Talley Ry.— Report.— The results for the year
ending December 31 were:
Tear.
Net.
Qross.
$1,361,547
1,317,371
Charges.
$1,193,653
1,152,492
Extraor.exp. Bal.,$ur.
$128,203
$39,691
159,787
5,092
—V. 76, p. 1245.
Anthracite Coal Roads. Decision.— The United States
Supreme Court on April 4, reversing the decision of Judge
Lacombe of the United States Circuit Court of the Southern
District of New York, decided that the coal-carrying roads
most produce their contracts with the coal companies controlled by them in the investigation now being conducted by
the Inter- State Commerce Commission at the instance of William R. Hearst, who charges that the roads are violating the
Inter-State Commerce law in regard to freight rates.
(See
V. 76, p. 918, 1354.) The Court holds that while it might be
ultimately found that the contracts do not fix freight rates,
they are, nevertheless, relevant, in the present investigation,
and that the Commission in its inquiries should not be too
narrowly restrained by technical rules of evidence, as its
function is largely one of investigation.
Judge Campbell, who represented the railroads, is quoted
as saying that the contracts are not secret but have frequently been product d before the Commission in other matters and
in the courts, and that the point decided is merely technical
and will have little bearing on the question at issue. The
opinion was written by Justice Day and ooncurred in by all
the other Justices except Justice Brewer, who dissented but
wrote no opinion.— V. 78, p. 583, 101.
Atlantic & Birmingham Ry.—Status.— See Brunswick &
—
Birmingham RR, below.— V. 78, p. 1274, 819.
Brunswick & Birmingham RE.— Status.— While, as an
nounced last week, the operation of this road was assumed
on April 1 by the Atlantic & Birmingham Ry. Co., the title
to the property pending the settlement of all existing claims
remains vested in the Brunswick & Birmingham. Over 90
per cent of the stock and bonds, we are informed, have been
deposited with the Knickerbocker Trust Co. under the
terms of a circular eent out under date of March 21, 1904,
by a committee (address 71 Broadway) consisting of Bird
M. Robinson, Chas. L. Hyde and Chae. H. Hilliard. This
circular says in part:
The Atlantic & Birmingham Ry. Co. has elected to exercise Its
option and to purchase the property under the terms of the agreement dated Nov. 25, 1903, and has entered Into a firm oontraot to
take and pay tor the road, whlob oontraot (dated March 12, 1904),
together with certain other relevant contracts providing among
other things that only one third of the common stook of the Atlantlo
& Birmingham By. Oo. reoelved In part payment for the property
shall belong to the stockholders of the Brunswick & Birmingham KB.
Co., have been died with the Knickerbocker Trust Co. We feel a material degree of confidence that the plan can be carried through, and
title to the property delivered, free of all encumbrances and without
litigation, thereby saving vexatious delays and expenses; but to accomplish this the stockholders and bondholders must aot promptly in
making deposit of their present securities. By so doing the matter
can be olosed without delay and the new securities be dlstrlbted.
The holders of the B.
B, bonds are to receive the Atlantic
Birmicgham bonds (see V. 77, p. 2279), bond for bond.
The aforesaid committee is to receive and distribute in its
discretion the proceeds of sale as provided in such contracts,
after paying indebtedness and expenses, including its com-
&
&
of the Brunswick & Birmingdeductions for such purposes, to
receive one-third of the common stock of the Atlantic &
Birmingham Ry. Co. received in part payment of the Brunswick & Birmingham RR."— V. 78, p. 1274, 819.
California Gas & Electric Corporation.— Further Facta aa
to Acquisitions.— Additional information is at hand respecting the acquisition by this oompany (see page 932 of Street
pensation.
ham
"The stockholders
are, subject to the
Railway
Section)
of
the
California, and all its subsidiary oompaniee; also the United
Electric Co., which retails the product of the StandGas
ard in Santa Clara and San Mateo counties. While the company declines to state the terms of the purchase, the particulars thereof below given are, we believe, substantially
correct.
The Standard Electric Co. has a hydro electric plant of
13,000 horse power at Electra on the Blue Lakes in Amador
County, Cal., and transmission lines thence to San Francisco
(where current is furnished to the San Francisco Gas
Electric Co.), Oakland, Stockton, San Jose, etc. The com-
&
pany owns the Blue Lakes Water Co. and the Stockton
Water Co., the latter supplying Stockton. The deal, we are
unofficially informed, involves the purchase of the entire
$5,000,000 stock of the Standard and the guaranty of its
$5, 000,000 of first mortgage bonds as to principal and inter(Compare V. 70, p. 850; V.
est by endorsement on each.
72, p. 1088; V. 74, p. 584. 1041.)
Electric Co. (V. 74, p. 1041; V. 75,
The United Gas
p. 81) is, we hear, purchased outright on the basis of $35
for each of the 22,286 shares (on each of which $30 had been
paid in), payment being made in bonds, of which $780,010
are required for this purpose. The income of the United
Electric in 1903 from sales of gas and electricity was
Gas
$269,488, against $218,049 in 1902. Dividends of 15 cents per
&
&
share have been paid monthly.
The bonds of the properties so acquired are as follows:
-V. 78. p. 60.
1903. ...$4,938, 191
1902.... 4,193.085
1391
&
in
1902 15,961,528, pounds of fine copper.
The
;
Standard Electric Company of
—
Mortgage
Standard Electric Co.
Dale.
Issued.
Interest.
1899
M8
Maturity.
$5,000,000 Sept. 1, 1989
\ Mercantile Trust Co., New York, Trustee.
1st mortgage
1,150.000 July 1, 1932
i!.,^n.„*pn. t ( 1902 5g. J-J It Is understood, at par.
Subject to call.
£9 nnn nnn *nth ^1
S2,ooo,ouu aaw».-..£ Mer0ftmUeTru8t 0o#( g an Francisco, Trustee.
725,000 Mar. 15, 1938
6
1893
B. Lakes Water,! stM. S
$5,000,000 auth
I Int. paid In New York. 8an Fran, and London.
350.000 April 1, 1911
6 g. A-O
Stookton Water Co. 1st < 1891
M., $500,000 g. auth. I Int. at 111. Tr. & Sav. Bk., Trustee, Chicago.
J
5 g.
MS
it is understood, has an option on the South
Co. and also the Central California Electric Co.
Compare V. 59, p, 700; V. 77, p. 1295. 2099 and p. 529 of Railway and Industrial Section.— V. 78, p. 988.
Central Railway & Bridge Co.— Foreclosure.— Judge
Berry, in the Campbell Circuit Court at Newport, Ky., on
April 2, ordered the property sold under foreclosure. The
The company,
Yuba Water
May 21 at Newport, Ky. The amount due for
principal and interest of the bonds is stated as $1,024,975;
for taxes about $20,000; to other creditors about $30,000.
The Cleveland Trust Co. is mortgage trustee.— V. 78, p. 583.
sale is set for
—
Chesapeake & Ohio Ry. Notes Sold. The company has
sold to Kuhn, Loeb
Co. $4,000,000 of two-year 5 per cent
collateral gold notes of $5,000 each, dated April 4, 1904, and
due April 4, 1906, without option of earlier redemption
coupons payable April 4 and Oct. 4. The collateral consists
chiefly of first mortgage 4 p. e. bonds of the Big Sandy Ry.,
guaranteed by the C. & O. The proceeds will reimburse the
treasury for advances made for the construction of the Big
Sandy road into the West Virginia coal regions. The notes
will ultimately be funded by an issue of bonds under the
general mortgage, which permits the sale of $2,000,000 of
such bonds annually.— V. 78, p. 1108, 988.
&
Chicago Burlington
& Quincy RR.— Bonds Sold.— The
&
company has
sold to Clark, Dodge
Co. and Lee. Higginson
Co. $14,492,000 Illinois Division bonds of 1949, being the
remainder of the authorized issue of $85,000,000 aside from
the amount reserved to retire at maturity $21,699,200
oonsol. 4s due July 1, 1905, and $2,820,000 Chicago
Iowa
division 5s due Feb. 1, 1905. On payment of these old issues
the Illinois division bonds will be a first lien on all the lines
east of the Mississippi River. The Illinois division bonds
just sold are 4 per cents; these previously outstanding bore
3/4 per cent interest. The proceeds of the sale, it is said,
will be used to acquire new equipment and terminal facilities and to fund floating debt and short-term obligations incurred for improvements during the last two years, the
latter, it is asserted, including the $5,000,000 of 5 p. c. notes
due March 15; but see V. 78, p. 988.
&
&
Chicago
& Oak Park
—See Lake
Elevated
Street Elevated
RR.— New Name Adopted.
RR. below.
Chicago Rock Island & Pacific Ry.- Mortgage Filed.—
The company has filed its new mortgage to the Central Trust
Co. of New York, as trustee, to secure not exceeding $163,000,000 of first and refunding gold bonds, dated April 1, 1904,
issuable as stated in V. 78, p. 228, 234.— V. 78, p. 1274, 1222.
Chicago Union Traction Co. Vote for Municipal Ownership.-See "Chicago" on page 1408, "State and City Department,"- V. 78, p. 819,768.
Cincinnati New Orleans & Texas Pacific Ry.— Equipment Bonds Offered.— Blair & Co. have agreed to purchase
for the company 2,400 freight cars to cost $1,544,049. The
railroad will make a cash payment of $344,049, and issue
bonds for thelremaining $1,200,000. These bonds will be the
direct obligation of the company, coupon in form, in denomination of $1,000 each, and bear interest at the rate of 4 p. c.
per annum, payable semi-annually.
They will be dated
March 1, 19C4, and mature in fourteen semiannual instalments of about $85,000 each. The title to the equipment
remains in Blair
Co., vendors, until all of the bonds have
been paid. The unsold bonds are offered by the firm at a
price to yield 5 p, c. on the investment. V. 77, p. 2097.
Cleveland Electric Ry.— Cleveland paper says:
On April 6 the syndicate which was organized by Horace E. Andrews two years ago for the purpose of purchasing the control of the
&
—
A
—
thp; CHRONICLE.
1392
will be dissolved for such members as wish to retire and
withdraw their stock. The syndicate purchased from the EverettMoore syndicate 43.000 shares, paying $3,«40,000, and slnoe that
time this etocK has been pooled and the syndicate certificates have
not been traded in.— V. 78, p. 1222, 228,
Metropolitan West Side Elevated Ry., Chicago.— Report.
results for the year endiDg Feb. 29 were
oompany
Cumberland Valley Traction Co.— Sale] June 25.— This
property will be sold under foreclosure on Jnne 25 upset
price, $25,000.
The Harrisburg Trust Co. is trustee of the
mortgage. The $370,000 bonds, or a majority of them, are
held by the Valley Traction Co.
;
Dominion Atlantic Ry.— Dividend.— English advices an
nounced the declaration of a dividend of 2% per cent on
preference stock for calendar year 1903. against 2 per cent in
1902. The company in 1903 carried £7,000 to suspense account for depreciation; applied £1,000 to extraordinary expenditure, and carried £1,598 forward.— V. 72, p. 1279.
Grand Rapids k Indiana Ry.— Fares.— What
is
believed
to be the last step in the long litigation touching the company's passenger fares in Michigan, was taken at Grand Rapids on April 5, when Judge Wolcott of the Circuit Court
issued a mandamus ordering a reduction of fares from 3 to
to 2% cents per mile, in compliance with the statute which
provides for a fare of
cents per mile whenever the earnings of a railroad reach $2,000 per mile. The case, originally
2X
decided by Jndge Walcott, was confirmed by the Supreme
Court of the United States.—V. 76, p. 810.
Houston Beaumont k Northern Ry.— See "Litigation"
under Kirby Lumber Co. among "Industrials" below.— V.
78, p. 47.
Houston & Texas Central RR.—Status.— The fact that
the contemplated sale of control from the Southern Pacific
to the Rock Island interests has not been consummated is indicated by the re-election on April 4 of R. S. Lovett, General
Counsel of the Harriman lines as President. Thornwell Fav
of Houston has been made Vice-President to succeed C. H.
Markham; Secretary and Treasurer, W. S. Field.— V. 78, p.
583.
Jersey City Hoboken k Paterson Street Ry.— OptionExtension of Bonds.—The Fidelity Trust Co. of Newark,
under an agreement with this company, offers to all holders
of the $1,292,000 5 per cent mortgage bonds of the North
Hudson County Railway Co. maturing May 1, 1904, the opportunity until April 20, 1904, upon payment of a premium of
2% per cent, to extend such bonds until May 1, 1924, with
interest at the rate of 5 per cent per annum, payable on
May 1 and Nov. 1 in each year. Holders of the bonds desiring this extension should deposit the same promptly with
the trust company at its office in Newark, N. J., or with
Robert Winthrop
Co., 40 Wall St., New York, on or before
April 20, 1904. All bonds not so extended will be purchased
by the trust company at par and accrued interest on May 1,
1904.— V. 76, p. 864.
Kansas City Interurban Ry.— Status, At auction recently $8,000 of the first mortgage gold 5 per cents due July,
19i9, with coupons No. 3 attached, sold for $80 for the lot.
The company is in the bands of a receiver for reorganization,
and the bonds referred to were sold to pass title for this purpose, they having been hypothecated on a loan on a basis of
50 cents on the dollar.
The company owns the Kansas City & Eastern Ry., embracing 10 miles of steam road, and contemplated the building of
5 miles of double-track electric railway. H. Gh Pert, No.
709 Main Street, Kansas City, is President and General Manager. Mr. Pert is also Identified with the Leavenworth Construction Co. which is interested in the proj ected Kansas
City Lawrence & Topeka (Electric) Ry. (V. 70, p. 945.)
&
—
,
Lake Street Elevated RR., Chicago. -iVew .Name.— With
a view to completing the reorganization per plan in V. 77,
p. 1874, the shareholders voted at an adjourned annual meeting on March 31, 1904, to change the name of the company
to the Chicago & Oak Park Elevated RR. Co. There will
also be organized a securities, or holding, company, to be entitled the Chicago & Oak Park Elevated Railway Co.
Time Extended.—The time to make the payment of $2 per
share on the deposited stock has been extended to and including April 20. Payments have been made on behalf of
more than 75 per cent of the depositing stock. The time for
the deposit of stock is also extended to and including April
20, 1904, upon condition that depositors pay $2 per share at
the time of deposit. -V. 78, p. 1223, 989.
Los Angeles k Redondo Ry.— Description of Property^See article in "Railroad Gazette" of April 1, page 253.— V.
76, p. 1148.
—
Louisiana k Arkansas Ry. — Extension. The extension
southeastward from Winnfield, La., via Georgetown, to Jena,
39 miles, is now practically finished and train service has
begun. At Georgetown the line intersects the division of the
St. Louis Iron Mountain & Southern Ry., over which through
trains are operated between Little Rock and New Orleans.—
V. 78, p. 102.
Louisville & Nashville RR.— Application.—The New York
Stock Exchange has been requested to list $23,000,000 5 20year trust bonds of 1923.— V. 78, p. 1223, 702.
Mauch Chunk Lehigkton k Slatlngton Street Ry.— Foreclosure.— The foreclosure sale which was ordered by Judge
Eodlich at Reading, Pa., on Feb. 35, on application of the
West End Trust Co. of Philadelnhla. has been appointed for
April 12; upset price, $18,000.— V. 77, p. 2159.
[Vol. lxxviti.
—The
:
Year.
Gross.
1903-4.. $2,147,163
1903-3.. 2,010,005
Net.
»l,104,«15
1,037,897
Other inc. Charges.
1853,396
$6,030
855,661
9,524
Dividenls.
(3 p.c.)$281,213
Balance.
sur.$267,46l
def. 20,982
From the balance as above in 1903 4 there was deducted
for claims incurred prior to the fiscal year, $41,350, leaving a
surplus for the year of $216,044.
Loan.— The company is reported to have obtained a loan of
$1,100,000 on deposit of extension mortgage bonds on account
of additions, etc.
New Director— Chas. H. Requa has been elected a director
in place of R. S. Hayes, resigned.— V. 78, p. 702, 343.
MIddletown-Gtoshen Electric Ry.— Sale April 28.— By virtue of an agreement between the bondholders and stockholders of the company, its bonds and stock will be offered
at public sale at 75 North St,, Middletown, Oranga Co., N.
Y., on April 28.— V. 69, p. 906.
—
Missouri Kansas k Texas Ry. New Equipment Bonds.
& Co. have agreed to acquire for the company 86 locomotives at a total cost of $1,128,743. Tne railroad will purchase this equipment from the firm and pay in cash $190,743
and issue bonds for the balance, $938,000. These bonds will
be dated March 1, 1904, and mature in fourteen semi-annual
instalments of $67,000 each. They will be the direct obligation of the M. K & T. Ry. Company, coupon in form, in
denomination of $1,000 each, and bear interest at the rate of
114 p. c. per annum, payable semi-annually. The title to
this equipment will remain in Blair & Co., as trustee, until
The firm offers the unsold
all of the bonds have been paid.
bonds at a price to yield 5 p. c. on the investment. V. 78,
Blair
—
p. 343, 48.
Mobile
k Ohio RR.— Equipment Bonds
OJered.—Bl&ir
&
and interest the unsold remainder of an
issue of $1,250,000 equipment 5 p. c. bonds, Series "C," dated
March 1, 1904. These bonds are issued for the purohase of
equipment, viz. 22 engines, 850 gondola oars, 900 box cars
and 150 stock cars. The cost of the equipment is $1,494,834,
of which the railroad company pays in cash $244,834, and the
balance $1,250,000 is represented by the aforesaid equipment
Co.
offer at par
:
bonds, payable in fourteen semi-annual instalments, beginning with September 1934. The bonds are a direct obli,
&
gation of the railroad company, Blair
Co. retaining the
The
title to the equipment until the final payment is made.
Southern Ry. Co. owns most of the capital stock and pays the
interest on the bonds and 4 p. c. in perpetuity on $5,632,600
stock trust certificates. V. 78, p. 1275.
—
Norfolk
k Southern RB.— Consolidation.— The Wash-
ington & Plymouth RR. was merged and consolidated with
Southern RR„ under date of April 1, 1904.
the Norfolk
&
&
Plymouth bonds have been
$100,000 Washington
turned over to the trustee under that mortgage for its satisTne entire issue of stock of the
faction and discharge.
Plymouth RR. Co. is held by the Norfolk
Washington
Plymouth property,
Southern RR. Co. The Washington
Southern RR. Co., will now come
as part of the Norfolk
under that company's first mortgage, and bonds will be issued
thereunder to provide funds for the standard-gauging of the
W.&P., and the construction of the new line from Plymouth
to Mackey's Ferry, connecting there with the present line of
Southern. The mileage of the line from
the Norfolk
Washington to Plymouth is 33-3 miles; from Plymouth to
Mackey's Ferry, 10 -7 miles. This will increase the Norfolk
Southern mileage to 203 miles.— V. 78, p. 821.
The
&
&
&
&
&
&
Northern Pacific Ry.— Suit for Control.— See Northern
Securities Co. below.— V. 78, p. 1228.
Northern Securities Co. —Sti its Filed. —The Oregon Short
Line RR. Co. (Union Pacific) and E H. Harriman and Winslow S. Pierce, acting as registered holders of the $82,491,871
stock of the Northern Securities Co. which is owned by the
Short Line and pledged to secure an equal amount of its 4
p. c. and participating bonds, began proceedings in the
United States Circuit Court in St. Paul on April 2 to compel
the Northern Securities Co. to return to them the Northern
Pacific stock exchanged for said Northern Securit es stock at
the time of the formation of the latter company. The pe,
:
The Harriman interests prior
tition is returnable April 12.
to the formation of the Securities Company held a controlling
interest in Northern Pacific, namely, $78,108,000 of the latter's $155,000,000 share !capital, which amount they asked to
have returned in lieu of the shares allotted under the distribution plan (see below and V. 78, p. 1275, 1228).
The petition, which was given at length in the
York
"Times" of Monday, contains the following salient points :
(a) The Northern Securities stook, par value $82,491,871, received
by the Union Paoltio Interest" Is held by the Equitable Trust Co., as
trustee for the 4 p o. and participating bonds of the Short Line, and
is available for restoration.
(b) The plan proposed for a pro rata distribution would leave control In the hands of the same people who now control, and would defeat the ruling of the Supreme Court.
(o) Tbe deolslon of the Circuit Court on April 9, 1S03, was affirmed
by the U. 8. Supreme Court on March 14, 1904, with authority "to
the Olroalt Court to proceed In the execution of Its decree as the circumstances may require." [Tbo latter's original decree permitted
the distribution of the Northern Paolflo and Great. Northern shares to
the former owners of the same, respectively. V. 76, p. 811.]
(d) Over 98>* p. o. ot the Northern Securities stock was issued for
Great Northern and Northern Paoltlo and less than one-half of 1 p. o..
It is believed, for other assets.
(e) The •82,491,871 Northern Securities stock was Issued directly to
the petitioners on or about Nov. 18, 1901. and $3,915,629 was also
paid in oash, the whole being in return for $37,023,000 common and
$11, 085,000 preferred stock of Northern Pacific
New
—
Apr.
9,
—
:
THE CHRONICLE.
1904.]
(f) The directors of the Northern Seonrlttes Oo. decided on the pro
rata distribution immediately after the decision, and refused to ad
journ the meeting of March '12, which issued a olroular of that date.
Mr. Harrlmau. who was present as a dlreotor, had been Informed i>y
counsel that the plan might be illegal, and therefore deollned to vote.
(g) The petitioners waive the examination of Northern Seourltles
witnesses under oath, but ask for an examination .to bring out the
facte, and for an lnjnnotlon pending a decision.
Vice-Uhancellor Bergen at Jersey City on Wednesday, on
application of the Continental Securities Co., granted an
1
393
Terminal Bailroad Association of St. Louis.— Purchase.
oity on March 19, it was announced that ten of the fourteen roads of the association
had agreed to purchase the Alton Bridge, heretofore owned
by the St. Louis Madison & St. Clair Belt RR. Co. (see page
1490 of Railway and Industrial Sectiou), Some months
ago Joseph Ramsey, B. F. Yoakum and V. T. Mallott were
appointed a committee to investigate the advisability of the
order, returnable on April 18, requiring the Northern Secu- purchase. Their report having been favorable, the action
[The foregoing, while not officially
rities Co. to show cause why it should not be restrained from above noted was taken.
holding a stockholders' meeting April 21 for the purpose of confirmed for the Chronicle, was published on apparent
ratifying the distribution plan. The plaintiffs claim, like tha authority by the daily papers just after the meeting.]— V. 77,
— Folio wiu g a meeting in this
Great p. 2394.
Northern and Northern Pacific stock are entitled to the orTexas Short Line By.— Bond Sale.— See "Auction Sales
iginal shares which they deposited, and not a pro rata dis- on page 1373.— V. 74, p. 578.
tribution as proposed. C. H. Venner is stated to be PresiUnion Pacific RR.— Suit.— See Northern Securities Co
dent of the Continental Sacurities Co.
above.-V. 78, p. 1276, 1224.
impossibility
of
guarding
Correction.— The apparent
United Traction Co., Albany, Etc.— New Mortgage Author
against inaccuracy even by the most liberal use of official revision and positive confirmation is indicated by the error ized. The shareholders voted on Monday to make the new
which appeared in this column last week and the week be- mortgage described in V. 78, p. 704, 989.
fore regarding the amounts of stock to be allotted to each
Valley Traction Co.— See Cumberland Valley Traction Co.
shareholder under the distribution plan. The original para- above.
graph was compiled from newspaper reports and was subWilliams Valley BB.—Mortgage.— This company, owning
jected to careful official scrutiny without our being informed 12 miles of road between Brookside and Lykens, Pa. has
of the inaccuracy. The reiteration in last Friday's issue was made a mortgage to the United Security Lii'e Insurance &
made only after persistent efforts to establish on the highest Trust Co. of Philadelphia, as trustee, to secure $120,000
authority the truth of our earlier statement which, as we bonds to provide ($33,000) for improvements, etc, and to
were aware, was in seemiog conflict with a literal interpreta- refund former issue of $87,000. It is proposed to exohange
tion of the official circular; documentary evidence proves forthwith the old bonds for the new, leaving the latter a first
the pains taken. Unfortunately a lack of clearness on the lien. The new bonds are dated Dec. 1, 1903, and are due in
part" of our informant as to the distinction in meaning be
20 years, viz. in 1923, Interest payable June 1 and Dec. 1;
tween the term ''deposited," which we used in our letter of denomination $500.
inquiry, and the word "surrendered" (meaning permanently
Capitalization
The road was opened July 1, 1892.
surrendered), which he had in mind, produced a whole mare's Stock, $120,000 authorized, $90,000 outstanding; par of
nest of confusion.
shares, $50; bonds, first mortgage 6s due Dec. 1, 1911,
Instead of the distribution being calculated on the entire $87,000. Equipment, one locomotive and three passenger
par value of the holding (as usual in liquidations), it must be cars. For year ending June 30, 1908, gross earnings were
reckoned on the 99 per cent thereof to be canceled.
(See $17,791. President and General Manager, C. M. Kaufman,
circular V. 78, p. 1228. ) The matter may be clearly stated Tower City, Pa.
p'aintiffs in the otber suit, that the original holders of
—
,
:
as follows: It is proposed that the stockholders shall deposit
their entire holdings, permanently surrendering 99 per cent,
and receiving back:
Fob 100 Sharer Deposited (99 to be surrendered and canceled).
Great Northern, 99x$30 17
_
$2,986 83
Northern Pacific, 99x$39 27
3,887 73
Northern Securities. 1 share returned
$100
—V.
78, p. 1275, 1223.
Oregon Short Line RE.— Suit.— See Northern Securities
Co. above.— V. 78, p. 288.
Paris (Tex.) Transit Co.— Earnings.—The Western Trust
Savings Bank, Chicago, in offering a block of the $100,000
first mortgage gold 5s, report for the year 1903:
Gross earnings, |32,704; net, $10,835; interest, $5,000; balance surplus,
$5,835. See V. 75, p. 185.
Richmond-Washington Co. Bonds Sold.— The company
has sold to Kuhn, Loeb& Co. $2,500,000 of its collateral trust
4 per cent bonds, making $6,500,000 of the issue outstanding.
These bonds are guaranteed by the Pennsylvania RF*. Co.,
Atlantic Coast Line RR. Co., Southern Ry. Co,, Chesapeake
Ohio Ry. Co., 8eaboard Air Line Ry. Co. and. Baltimore &
Ohio RR. Co. See guaranty, etc., in V. 77, p. 2391.— V. 78,
&
&
p. 584.
St. Clair Madison & St. Louis Belt Ry.— Sate.- See Terminal Railroad Association of St. Louis below. V. 77, p. 2340.
St. Louis Iron Mountain & Southern Ry.— Bonds.— The
New York Stock Exchange has been requested to list $2,682,000 additional River & Gulf Division first mortgage 4 p. c.
bonds of 1903.— V. 78, p. 1224, 769.
St. Louis & San Franeisco KB.— Called Bonds.— Eleven
($11,000) first mortgage 6 per cent bonds of the Fort Smith
& Van Buren Bridge Co. will be paid Oct. 1, 1904, by the
Mercantile Trust Co.. trustee.
Application to List.— The New York Stock Exchange has
been requested to list additional bonds of the system, viz.:
Kansas City Port Scott & Memphis Ry. refunding mortgage
—
4s of 1936
$346,000
Louis <fe San Pranolsoo By. refund, mtge. 4s of 195 1
740,000
Chicago & Kant. Illinois RR. gen. consol. 1st M. 5s of 1937. ..1,303,000
St.
New
Offletrs.— The
new
President, Alfred K, Davidson, an-
nounces appointments as follows
C. H. Beggs, assistant to the President; B. B. Hammond. Second
Vice-President, In place of C. H. Beggs; A.S.Dodge, Third VicePresident, vice Bobert Mather, eleoted First Vloe President.— V. 78,
p. 1276, 1168.
INDUSTRIAL. t*A8
AND MISCELLANEOUS.
American Car & Fonndry Co.— Earnings.—The following
statement was issued on Wednesday:
official
1904.
1903.
1902.
Net earnings—
Three mos. ending Feb. 28 $532,422 72 $1,426,108 10 $780,642 06
Ten mos. ending Feb. 2S. ..4,172,745 53
5,900,971 24 2,806,118 18
The dividends as declared for the quarter, payable May 2,
per cent on
1904, viz,, \% per cent on the preferred and
the common stock, call for $675,000.— V. 78, p. 230, 104.
^
—
&
Co. are
American Cigar Co. Guaranteed Notes. Blair
offering the 4 p. c. guaranteed gold notes, Series "B," due
March 15, 1912, redeemable at 102>£, at 91 and interest.
Their circular says in part:
The company Is owned jointly by the American Tobacco Co. and
the Continental Tobatco Oo,. and these two oompanles guarantee the
payment of principal and Interest, jointly and severally, by Indorse-
ment as
follows:
The American Tobacco
Co. and Continental Tobacco Co., jointly and severvalue received, guarantee the punctual payment of the principal and
interest of the within note of the American Cigar o. to the bearer thereof. In
witness whereof the said The American Tobacco Co. and Continental Tobacco
Co. have each caused this guaranty to be signed in Us corporate name by its
President (or one of Us Vice-Presidents) and its corporate seal to be by him
attached, attested and signed also by its Treasurer this 1st day of August,
ally, for
<
THE AMERICAN TOBACCO COMPANY.
1904.
CONTINENTAL TOBACCO COMPANY.
[By in each case the Second Vice-President, attested by Treasurer ]
The American Cigar Co. has no mortgage debt and cannot have unless provision is made for the retirement of these note i. Neither has
the American nor Continental Tobacoo Co. any mortgage debt. These
notes are part of an authorized issue limited to $20,000,000, of which
there are i6saed Series "A," $5,000,000; 8erles "B," $5,000,000; total,
$10,000,000. The Interest charge Is $400,000 and the net earnings
are three times this amount.
This interest charge Is also a first
charge on the $21,421,569 net earnings of the guarantors. 8ee V.
78, p. 1107; also compare V. 78, p. 990.
American Lafrance Fire Engine Co. of New York.— Stock
Increase.— On Wednesday the company filed at Albany a
certificate of increase of capital stock from $1,000 to §2,000,000, to consist, half of 7 per cent non -cumulative preferred
and half of common stock. This is in accordance with the
plan for the reorganization of the International Fire Engine
Co., which see below. There will also be an issue of $1,000,000 general first mortgage 6s, of which $319,000 will be reserved to retire at maturity a like amount of American Fire
Engine Co. 6s.— V. 78, p. 844.
American Locomotive Co.— in Control. - Formal possession was taken on March 31 of the control of the Locomotive
& Machine Co., Limited, of Montreal.
Rumor. See Rogers Locomotive Works below.— V. 78, p.
San Pedro Los Angeles & Salt Lake BR.— Construction,
it is stated, is proceeding from the Salt Lake end at
the rate of 8,000 feet per day. Track has been laid 70 miles
beyond Calientes; 7o-lb. rails are being used,— V. 78, p. 288.
1111.
Southern Indiana By.— New Office— New Officers.— The
American Meter Co.— Payment of Bonds.—The debenture
offices of the President, General Manager, General Counsel,
bonds will be redeemed on presentation at the Central Trust
Treasurer and Auditor are now located in the Grand Central Co., No. 54 Wall St., on May 2, 1904, after whicn date interStation, Chicago.
Secretary C. F. Weinland has been est will cease. Company's office, No. 561 West 47th St. Wm.
elected also Treasurer to succeed L. A. Walton, resigned, and N. Milsted is Secretary.
— Work,
A. F. Williams has been appointed Auditor, both effective
April 1.— V. 78, p. 989.
Sonlh Side Elev&ted RR., Chicago.— Tbe shareholders
yesterday ratified the proposition to issue $7,226,000 new capital stock.
Compare V. 78, p. 584, 582.
Tennessee Central By.— Subsidy Bonds Valid.— See CI irksville, Tenn., on page 140S, State & City Department.— V. 78,
p. 1224, 1168.
—
—
Steel Foundries Co ..—Pres dent Resigns
Dividend.— Joseph E. Scnwab having resigned as President,
to take effect April 16, Charles Miller was on Thursday appointed acting President. Mr. Schwab remains a member
both of the executive committee and the board of directors.
The regular quarterly dividend of 1% p. c. on the preferred
stock has been declared, payable May 1 to holders of record
April 15. This dividend, ordinarily payable March 1, was
American
:
THE CHRONICLE.
1394
delayed until the report of the Audit Company of New York
(which will shortly be issued) was available for the guidance
of the board. It is understood that steps will shortly be
taken to have the securities re-listed upon the New York
Stock Exchange.—V. 78, p. 704.
American Tobacco Co.— Guaranteed Notes Offered.— See
American Cigar Co. above.
Purchased.— A press dispatch from Bristol, Va., states that
this company has purchased the Reynolds Tobacco Co. of
that place, one of the oldest independent companies in the
South.—V. 78, p. 1107.
Automatic Fire Alarm & Extinguisher Co., Limited.—
Payment of Scrip. The outstanding dividend scrip cotes,
dated May 2, 1898, will be redeemed upon presentation at the
E. O.
office, No. 416 Broadway, on and after May 2, 1904.
Richards is Secretary.
Boston Tow Boat Co.— No Dividend.—The April dividend
long \% per cent quarterly on the $1,250,000 stock,
will not be paid this year. President Alfred Winsor is
quoted as saying in substance
The past year has been unprofitable. We have paid dividends from
—
:
surplus of prone and
loss.
As
this
has been about absorbed, the
di-
rectors do not consider It well to pay the April 1 dividend. Daring
the first nine months the business was poor in every branoh, bnt the
prospects for the future are brighter. The company for over thirty
years has paid regular and occasionally extra dividends. Although
we hesitate to predlot we are quite hopeful that the current year will
show better results. The unusual depression in Atlantic steamship
freights caused the withdrawal of several of the steamers la the
regular lines, and with the general depression of all commerce to this
port it has resulted In a great falling off in our harbor towing, grain
and merchandise lightering. The year has passed wlthont a wrecking
job of any magnitude. Goal freights have ruled so low that oar
steamer Orion has been hauled np considerable of the time. The first
part of the year our three steamers on the Pacific Coast showed a loss.
We seem to have overcome the loss and expense of starting a new
line, and these steamers are now paying a profit and with changes in
view we trust will again be a source of inoome as they were two years
ago.— V. 72, p. 777.
,
[Vol. lxxviii.
The Supreme Court of Indiana on March 14 reversed the
judgment of the lower court declaring a forfeiture of the
gas lease on a quarter section of land in Grant County belonging to Joseph W. Littler, because the company had not
sunk a well within five years. The Court, however, holds
in effect that land owners whose property is covered by such
leases may compel the lessee either to drill after reasonable
notice or to submit to a forfeiture.— V. 78, p. 770, 285.
Dominion Iron & Steel Co.— Status.— President J. H.
Plummer said in substance at a meeting in Montreal on
March
14:
At present two blast and four open -hearth furnaoes are in operation.
The new coal washing plant will have a oapaoity of 200 tons per hour.
The oompany now employs about 2,000 men and expects that the
number will be Increased. When the plant Is completed it will have
a capacity of from 200,000 to 260,000 tons of steel per year.
It is also stated on the authority of Mr. Plummer that the
company expects to begin producing rails next fall. A statement from the Boston "News Bureau," as officially revised
for the Chronicle, says:
As soon as the oompany turns out rails the Canadian duty| of $7 per
ton will apply. The washing plant should be ready by July at a cost of
about $800,000. The rod mill is nearly finished. It will be two years,
however, before the oompany is in a position to derive the fall benefits
from its oompleted plant at Sydney, a plant whloh represents an Investment of nearly $25,000,000.
The last $1,500,000 raised through the sale of second mortgage
bonds is being jadloiously expended, and it is thought that the cost of
oompletlDg the plant will be less than was originally anticipated, and
The
that there will be a small balanoe of the $1,500,000 left.
oompany Is not troubled by its floating debt [of about $2,500 0001, as
President Plummer has arranged with the banks to oarry this until
the oompanv is in a position to show net earnings.
Frederic Nicholls and Hon, L. J. Forget are Vice-Presidents.— V. 78, p. 105.
Eastern Tabe Co.— Sold.— The plant at Zanesville, Ohio,
was sold on March 22 by the Commissioner in Chancery to
Edward Nugent of New York for $170,000. The real purchaser, however, was the Mark Mfg. Co. of Chicago, which
besides producing pumps, plumbing tools, etc., has a pipe
Brown Shoe Co. of St. Louis.— New Stock.—The share- capacity of 150 tons a day. The plant just purchased is said
holders will vote on May 18 on a proposition to increase the to have a daily oapacity of 350 tons of pipe, in sizes from %
capital stock from $1,000,000 to $2,500,000, and to divide the to 16 inches.— V. 77, p. 2362.
stock into classes as follows, the preferred shares to have
Federal Telephone Co.— Another Plant Sold.—The compreference as to assets in case of liquidation as well as to pany has sold, or contracted to sell, its interest in the Wood
dividends: (1) $500,000 first preferred 6 p.c. cumulative stock; County Telephone Co. of Bowling Green, O., to D. A. and
(2) $1,000,000 second preferred 6 p. c. cumulative stock and J. S. Yodder of Toledo.
The Wood County Company, it is
common
stock; par of shares $100. No bonds or
" The great popularity
says:
of the Star-5-Star shoes and rapid inorease of $1,500,000 per
year in business requires this large capital." The stock was
increased from $800,000 to $1,000,000 in December, 1900.
Plants (in St. Louis): factories Nos. 1 and 2, 18th and Wash
Streets; factory No. 3, 1520 to 1526 N. 13th St.; factory No. 4,
11th and St. Charles ats.; offices and warerooms, Washington
Ave., 11th and St. Charles sts.
Directors :
G W. Brown, Pres.; J. H. Roblee, Vioe-Pres.; G. E. South-wick, Sec. &
Treas.; I. H. Sawyer, E. F. Shaw, O. L. Brown, A. M. Roblee.
(8)
$1,000,000
mortgage.
An advertisement
Cambridge (Mass.) Electric Light Co.— New Stock.—The
Massachusetts Gas and Electric Light Commission has authorized the issue of $100,000 additional capital stock at $140
per share, to pay for additions. See V. 77, p. 1748, 1535.
stated, has capital stock of $200,000; also $200,000 of first
mortgage 5 per oents; but only $70,000 of these have been
issued; switchboard capacity 900 telephones, telephone subscribers, 612.— V. 78, p. 1225.
Fore River Ship & Engine Co.— Default.— Preliminary to
reorganization, the interest due April 1 on the $1,250,000 of
5 per cent bonds was defaulted.
—
Plan. The committee was reported yesterday to have
agreed on a plan of reorganization providing for the formation of a new company with $2,400,000 each of common and
preferred capital stock, in shares of $100 each. The old bondholders on payment of an assessment of 40 p. c, it is said,
will be given $1,000 in new preferred stock and $800 in new
common; preferred shareholders who pay assessment of 38 1-8
p. c. receive for each $300 of old stock, $100 new preferred
and $150 new common. If not paying assessment bondholders will receive $250 new preferred and $250 new common,
or a syndicate, it is said, will agree to buy the bonds at 30.
The $1,250,000 would be applied as follows To complete
Chicago Pneumatic Tool Co.— Favorable Decision— InThe Supreme Court of the United States on Monday confirmed the decision of the Circuit Court of Appeals
sustaining the Boyer hammer patents. The effect of this deto pay floating debt, $600,000; for working
cision, it is asserted, is to give the Chicago Pneumatic Tool plant, $300,000
capital, $350,000.
The holders of the existing common stock
Co. a complete monopoly of the pneumatic hammer business.
Injunctions will be sought against the Keller and ($2,925,000) will be allowed to subscribe to new stock but
Philadelpnia companies, and later against all other infring- otherwise are not considered. Present preferred stock outstanding, $1,986,000; bonds outstanding, $1,250,000; also out
ing manufacturers.
collateral, $856,000 bonds.
Kidder, Peabody & Co. are to
Officers.— At a meeting of the directors on April 4, follow- as
ing the annual meeting, there was created on the recommen- direct the reorganization.— V. 78, p. 1226, 1170.
Georgia Car & Manufacturing Co.— Request for Extension
dation of President Dantley a new executive office entitled
"Chairman of the Board," with special powers, including of Time.— President R. C. Foster, under date of March 81,
supervision over the financial affairs of the company. John has requested creditors to accept three months 6 p. c. notes
R. McGinley of Pittsburgh was elected to that office. For for the full amount of their accounts, subject to three reThe combined bank, note and
officers re-elected, see page 526 of Railway & Industrial newals of three months each.
account indebtedness is $151,067. Of this, $57,088 is held by
Section.
Report.—See page 1389 of to day's Chronicle.—V. 78, p. bankers and machinery concerns who are secured and who
have agreed to grant extensions on favorable terms provided
345, 104.
junctions.
—
:
;
Consumers' (Natural) Gas Trust Co., Indianapolis.—
Natural Oas Service Suspended—The company last month
sent out printed notices that in accordance with the resolution adopted by the directors on March 1, natural gas service
would be suspended on April 1.
Litigation.— Judge Anderson of the U. S. District Court at
Indianapolis in the action brought by Byron C. Quinby of
Massachusetts to prevent the directors from manufacturing
gas on the ground that they have no legal right to do so,
and to restrain them from furnishing natural gas because
this is a waste of assets, has held that the Court has jurisdiction.
The case has been argued, decision being reserved,
the plaintiff meantime to have the right to renew the motion to 'restrain the company from supplying natural gas
the other creditors will assent. On Jan. 14, 1904, the balance
sheet showed as follows
BALANCE SHEET JAN. 14, 1901.
Assets —
Liabilities—
9
I
Contracts and oars conPreferred stook
123,200
structing
105,154
Aoo'ts receivable, &o.,[net] 6,776
Common
Cash
Accounts payable
Notes payable
Due employees (net)
Surplus
186
foundry stook 34,777
212,419
Real estare, farm and Implements
83,008
Insurance In force
2,307
Offloe fixtures
231
Materials
Plant
<S
Total assets
444,863
stook
Loan notes
Total liabilities
100,000
53,692
54,242
48,133
6,344
64,347
444,858
-V. 78, p. 290.
Great Lakes Engineering (Shipbuilding, Etc.,) Co., Deshould the company resume operations. The following is
troit.— Mortgage.— This company has filed a mortgage to the
from an authoritative source:
Union Trust Co. of Detroit, as trustee, to secure $500,000 of
If the plalntlfi suooeeds, it must follow that the certificate holders
The bonds are to proare owners of the assets of the Consumers* Gas Trust Co. properties. 5 per cent gold bonds of $1,000 each.
Therefore, after the settlement of litigation the proceeds from all the vide working capital.
Antonio C. Pessano is President and
properties will belong to the certificate holders.
John R. Russel, Secretary. President Pessano says:
Indications now point, after legal deolslon, that the pipe lines in InThe bonds referred to were authorized when oompany was formed.
dianapolis will be sold possibly
to a competing
will serve Indianapolis with artlflolal gas at about
oompanr, which
70 cents a thousand, whloh Is 20 oents per thousand under present prloe chanted bv
the Indianapolis Gas Go.
They are not for sale and are not to be sold; ther are simply used as
collateral, and only In saoli amount as required from time to time for
purpose of working capital In oonnaotlou with lsrge orders.— V. 76,
p. 385.
—
Ape.
1904.
9.
:
THE CHRONICLE.
•
Herring-Hall-Marvin Safe Co.— Debenture Notes.— Accompanying the balance sheet of Dec. 81, 1903 (V. 78, p. 819) was
the following circular regarding an issue of $250,000 6 p. c.
gold debenture notes, of which $30,000 have thus far been
paid from profits
,
:
a balance sheet as of Deo. 31, 1903. After charging all
repairs aDd maintenance of bnlldlngs, maohlnery, tools, etc., we have
charged off $34,119 for depredation, it being the desire of the management to oondnot the business in the most conservative manner.
It having become neoeBsary to fund the floating debt, on March 2,
1903, an Issue of $250,000 6 per cent gold debenture notes was sold,
and as It proved Impossible to sell this issue at par, so far as remote
dates were concerned, without securing them by a mortgage, whloh
seemed undesirable, a discount amounting In the aggregate to $8,2SO
was allowed to the various purchasers on equal terms. This entire
discount has been oharged to the operating expenses of 1903 and will
not become a oharge again. Two of these bonds (920,000 to Deo. 31,
1903.) have been paid duly. ExoeDt for this Item the net profits
would have been about equal to the fall dividend on the first preferred
etoek outstanding.— V. 78, p. 819.
Enclosed
1b
Home Telephone
1395
debentures were allowed to withdraw their charges, John C.
McPherson being succeeded as receiver by W. H. Henkle of
the Illinois Trust & Savings Bank. The "Chicago InterOcean " of April 2 says:
The differences existing between the bondholders have been adjusted
and all are to receive 25 oents on the dollar for thalr holdings of $2,500,000, or $625,000. The bondholders have until April 18 to aooept
It is understood that the property is to be sold to Swift or
the National Packing Go., who will be given title under the foreclosure proceedings. The oharges that the officers had lost $1,000,000
of the company's funds in speculating were withdrawn.
this offer.
Under the recent offer the purchasers were represented by
a Mr. Cummings, who agreed to pay 25 for the committee's bonds, and also, it is said, $3 per share for its preferred
stock and $1 per share for its common stock (see V. 72, p.
725,778), The " Inter-Ocean " understands that under the
new agreement the stock will receive nothing. V. 78, p.
—
1170, 1112.
Los Angeles.—Earnings, Etc.—The
Kirby Lumber Co.— Majority Deposited.—The protective
committee of Timber Certificates announces that there has
been deposited a large majority of the Houston Oil Co. 6
p. c. timber certificates, and that further deposits will be received at the United States Mortgage & Trust Co., 55 Cedar
Other facts:
$23,825.
Hamilton Grepe of London
St., until 3 P. M. April 15 next.
Total telephones in operation Maroh 15th, 11,747; applications on
member of the committee.
Authorize! capital stock, $3,000,000; authorized bonded has become a
file. 5,000.
Permanent Receivers.— Judge Burns, in the United States
debt. $2,500,000; outstanding March 15, 1904, $1,800,000 bonds and
$1,800,000 stock. A oontraot has been made for the first station to be Court at Houston on March 17, made Joseph S. Rice of
erected on Qrand Avenue. When this is oompleted the oompany will Houston and Cecil A. Lyon of Sherman, permanent receivers
put in 4,000 automatlo telephones.
The company on Feb. 10, 1904, paid its first (quarterly) of the Eirby Lumber Co., and Capt. F. A. Reichardt and
Charles Dillingham, both of Houston, permanent redividend, $i per share (1 p. c), to holders of pool certificates Col.
(V. 78, p. 586.) A majority
ceivers of the Houston Oil Co.
of record Feb. 1.—V. 75, p. 188.
of these receivers are understood to be friendly to Mr. Kirby.
Houston Oil Co. Receivership Permanent. See Kirby
Judge Burns on Maroh 21 ordered that the salary of the manager of
Lumber Co. below.—V. 78, p. 1112, 991, 705.
the oil oompany be reduoed from $12,000 to $3,000 per annum, and
Hudson Hirer (La.) Lumber Co.— Guaranteed Bond Of- the salary of the manager of the lumber oompany from $12,000 to
$6,000, the receivers to report whether they are Justified in paying
fered.—The Royal Trust Co. of Chicago offers at par and in- more than $3,000 to the latter.
terest a block of this oompany's first mortgage 6 p. o. gold
Litigation,—F. R. Pemberton and President Davison of
bonds of $500 each, issue limited to $560,000. These bonds the Baltimore Trust & Guaranty Co., as managers of the
are guaranteed by the Long-Bell Lumber Co. of Kansas City, .syndicate formed in 1902 to purchase preferred stock of the
a company with a long and excellent record and capital and Kirby Lumber Co., filed suit in the Federal Court at Houston
surplus of $2,933,000. The interest is payable semi-annually on March 24 to prevent the enforcement of the contract to
at the" Central Trust Co. of Illinois, trustee, Chicago. See
buy $136,835 of said preferred stock, on the ground of misadvertisement on another page. A circular says
petitioners allege in part:
Bonds dated Jan. 1, 1904; payable in series, $20,000 every six representation. The
The plaintiffs have reason to believe that a corporation known as
months from July 1, 1904, to Jan. 1, 1918; redeemable, prior to maCo.,
directors report the gross earnings for the five months ending
Feb. 29, 1904, as $119,609 (for February, $26,268); surplus
earnings over operating expenses, interest, taxes, etc., $42,769.
The interest charge for the quarter ending Dec. 81, 1904, was
'
—
:
103 and interest. Seonred by 42,390 acres of long leaf
yellow pine In Caloasleu Parish, La., cutting 12,000 feet and worth
$25 per aore, and complete mill equipment. We estimate the aotual
cash value to be more than two and one-half times the mortgage debt.
These bonds are guaranteed, principal and interest, by endorsement
on eaoh bond, by the Long-Bell Lumber Go. of Kansas City, Mo. .which
oompany owns over 80 per oent of the capital stock. The Long Bell
Lumber Go. has done a large and successful retail lumber business for
the past 28 years, now operating 78 retail yards; also a very large
wholesale lumber business for the past fourteen years.
The officers of the Long-Bell Lumber Co. are : President,
R. A. Long
Vice-President, C. B. Sweet
Secretary, F. J.
Banister. The company operates four railroads in Louisiana,
their aggregate length being 88 miles, viz.
Sibley Lake Blsteneau <fe So. Ry., Sibley to Wilson
25 miles
Woodworth & Louisiana Central Ry., La Morle to Hueston....28 miles
De Bidder & Eastern Ry.. De Ridder to Sugar Town..
15 miles
Louisiana & Paoiflo Ry., Bon Ami to Red Buok, 20 miles
20 miles
Illinois Wire Co., Des Plaines, III.— Sale or Lease.—This
company offers for sale or lease its plant "fully equipped for
manufacturing fencing, bale-ties, nails, etc. Five acres with
switch on both C.
N. W. Ry. and Wisconsin Central RR."
Office, Room 1120, Monadnock Building, Chicago.
turity, at
;
;
&
International Fire Engine Co.—Sale Authorized.— ViceChancellor Emery at Newark, N. J., on April 1, signed an
order directing James R, Clark and Charles E. Kimball, receivers for the company, to accept the offer of the reorgan^
committee for the company's assets.
the terms of the order the debts of the International
Fire Engine Co., the La France Fire Engine Co., the Fire Extinguisher Manufacturing Co., Charles T. Holloway Co. and
S. F. Hayward
Co. will be assumed by the committee and
will be paid in full within thirty days after the approval of
the order by each of the courts in which receivers have been
appointed, or as soon thereafter as due and payable.
The American- La France Fire Engine Co., the new corporation organized under the laws of New York, will acquire
the property in conformity with the plan of reorganization
of Oot. 1, 1908.
(See that company below and V. 77, p. 952,
2101).
International stockholders who have not heretofore
assented to the plan will be permitted to do so upon depositing their shares prior to April 15, 1904. The transfer of the
property will be completed May 5.— V. 78, p. 315.
International Mercantile Marine Co.— New Office.— President Ismay, in connection with his plans for the reorganization of the management, has arranged to move the main
office of the company and the freight departments of all the
lines to the Whitehall Building at Battery Park.— V. 78, p.
ization
By
&
1226, 823.
the Kirby Investment Co. (see Kirby Securities Co., V. 76, p. 869,) has
been organized as a sort of holding oompany; that Kirby and Yoakum
have turned over to this oompany more than a majority of the capital
stock of the Kirby Lumber Co.; that the same parties incorporated
the Houston Beaumont
Northern RR. (V. 78, p. 47) with a capital
of $500,000, to which was turned over terminal, railroad and rolling
stock property of the Kirby Lumber Go., for whloh the lnmber oompany received $1,000,000 in the bonds of the said railroad oompany (no
such bonds could have been issued under the Texas law, as suoh road
has not been built), and that these bonds were afterward given B. F.
Yoakum as seourlty for a loan of $600,000 to the Kirby Lumber Go.
&
&
Northern bonds referred to
The Houston Beaumont
instead Mr. Yoakum
above, we learn, were never issued
loaned the Kirby Lumber Co. $600,000 for two years, receiving as security a mortgage on the latter's 160 miles of lumber
railroad. The original plan to transfer this railroad to the
projected Houston Beaumont
Northern Ry. Co. was never
;
&
Committee— Plan.— A stockholders'
consummated.
Stock
committee has
been formed and will announce in a few days a plan of reorganization. The committee are: J. S. Bache, Chairman
N. W. Jordan, American Loan & Trust Co., Boston Edwards Whitaker and John F. Shepley, St. Louis, and H. J.
Bowdoin, Baltimore.
Assets and Liabilities. The company's balance sheets of
Dec. 31, 1902 and 1903, were given in the Chronicle of Feb.
The receivers on Feb. 22 filed a statement esti13, p. 700.
;
;
—
assets at $11,869,548 (including Kountze
lands "contingent" $674,434), and total current liabilities (excluding $3,000,000 option price on Kountze lands) $3,932,821.
The friends of the company place the assets at about $5,000,000 more.— V. 78, p. 991, 705.
Kirby Securities Co.— See "Litigation" under Kirby Lumber Co. above.— V. 76, p. 869.
Laclede Gas Light Co., St. (Louis.— Bonds Reserved for
Additions.— The $5,000,000 of new refunding and extension
bonds reserved for permanent improvements, additions and
extensions can be issued from time to time for not exceeding
85 p. c. of the cost of such permanent improvements, additions and extensions, not 5 per cent as the type made us say
last week.— V. 78, p. 1273, 1278.
Long- Bell Lnmber Co.— Guaranteed Bonds.— Bee Hudson
River (La.) Lumber Co. above.
mating the total
Memphis Long Distance Telephone Co.— Bonds. — See
Memphis Telephone Co. below,
Memphis (Tenn.) Telephone Co.— Mortgage. - The company recently made a mortgage to the Home Finance & Trust
Co. of Memphis, as trustee, to secure an issue of $1,000,000 of
30-year 5 per cent gold bonds, $525,000 of which are to be
used for the purpose of refunding and paying off the 1st 5s
of 1901, and the balance to be sold and used for improving
and extending the plant. The company was incorporated in
February, 1901, and in January, 1902, its capital stock was
increased from $400,000 to $600,000. The rates fixed in the
contract between the city and the company ire $48 per annum for business telephones and $36 per annum for house
service. Harvey Myers is President.
Directors :
C. W. Sohulte, Allen B. Thrasher, T. J. Hunt. George A. Howard, O.
B. Galloway, Maurice J. Richmond, Harvey Myers, Bolton Smith and
International Packing Co.,
Chicago.— The Illinois
Trust & Savings Bank, on behalf of the owners of $2,165,000
of the $2,438,000 outstanding debentures of the International
Company, has brought suit to foreclose the mortgage (of
which it is trustee) given in 1892 by the Consolidated Packing Co. All except some $10,000 of the $2,209,000 bonds outstanding under this mortgage are held by the Illinois Trnst
& Savings Bank to secure the debenture bonds of the International Company (compare V. 71, p. 1218, 1118). This
action was taken on April 1 in connection with a settlement
in oourt by which the holders of the $190,000 non-assenting Ben
A.
Adams.
—
1
THE CHRONICLE.
396
Reece Button Hole Machine Co.— Report.—The earnings,
the years ended April 1 compare as follows
The Memphis Long Distance Telephone Co., which was incorporated in Dataware on Sept. 12, 1902, with $1,000,000
authorized oapital, Mr. Myers being on© of the incorporators,
was also reported early in 1934 to have made a mortgage
for $1,000,(00.
No official statement obtainable.
Mexican Import Duties.— New Law in Operation.— On
April 1 the new import duties established by the Mexican
Government went into effect. In anticipation of this event
the imports of the articles affected were for some time previous on an unusually heavy scale. The new tariff law
placed a duty of one cent per kilometer on iron and steel
rails weighing more than 12 kilos to the meter (previously
The increase
free), and doubled the duty on fencing wire.
of duties on all other products of iron varies, in some cases
there being no change, but in the aggregate it is said to be
about CO p. c. 8ee comparative schedule In "Journal of
etc., for
:
Dividends (8%)!. Bal.,sur.
$31,090
$80,000
1904
$234,264
$111,090
27.524
80,000
1903
107,524
233.722
80,000
26,373
1902
106,373
218,577
Machines leased to April 1, 1901, 4,033, against 4,140 on
April 1, 1903. One new-style machine displaces two of the
old style.
Stock, $1,000,000; par of shares, $10; no bonds. Total cash
dividends to date stated as $2,072,500 ; stock dividend of
100 p. c. ($500,000) paid in 1891.— V. 76, p. 977.
Tear.
Rogers Loeomotive Works.— Called Bonds.—Twenty
—
:
Sonth Shore Gas & Electric
Net earnings for nine months ending Not. 1, 1903, $16,641. If
the same rate of earnings Is maintained, the earnings for 12 months
will be $22,055; interest on preferred stook at 6 per cent, $4,800;
balance, surplus, $17,255. The company's property extends for two
miles along the shore of the Little Traverse Bay, near Petoskey,
Mich., and contains a supply of lime rook sufficient to last a hundred
years. The business has been established for over twenty years. A
very superior grade of lime, known as Petoskey lime, Is manufactured,
whioh oommands the highest market prloe. Their sales are large and
Bteadlly increasing. Plant has excellent shipping faoilities, both by
rail and water. No Indebtedness; surplus, $25,000. In addition to
the 6 p. o. on the pref. stook, 4 p. c. was paid on the common stook
Jan. 1. The pref. stock is selling for 101 and the common for 60.
Mldrale Steel Co.— New Plant.— contract has been let
to the Riter-Conley Mfg. Co. of Pittsburgh for the construction at a cost of about $170,000 of an extension to the plant
to enable the furnishing of armor plate to the Government.
Name— New Bonds. — An
(?).
V. 78, p. 992, 771.
stook from
Co.,
Hammond, In&.— New
statement, received too late
A
Monterey (Mex.) Iron & Steel Co.— See "Mexican Import
Duties" above.— V. 77, p. 199.
Co., Evauston, Etc., 111.— New Stock.
certificate of increase of capital
$750,000 to $1,250,000. See V. 77, p. 2162.
North Shore Electric
official
for use last week, gives various facts of interest. The company was incorporated in May, 1901, as the Hammond Illuminating Co. (V. 77, p. 1749). Late last year the present
name was adopted, the authorized capital stook at the same
time being increased from $350,000 to $2,000,000, par of shares
general mortgage for $2,000,000 was also made to
$100.
the Central Trust Co. of Chicago, as trustee, to secure $2,000,000 of 5 p. c. gold bonds of $1,000 each, dated Dec. 1, 1903,
and due Dec. 1, 1933, but subject to call, in whole or in part,
on Dec. 1, 1908, or any interest day thereafter at 105; interest
payable June 1 and December 1 at office of trustee. Of these
bonds $250,000 are outstanding, $300,000 [or $850,000 ?] are
reserved to retire a like amount of Hammond Illuminating
Co. first mortgage bonds, and the remainder is issuable
for 90 p. c. of cost of future improvements. The mortgage
covers thefgas and electric plant at Hammond, supplying the
Officers— Clarcities of Hammond, Whiting and Chicago.
ence H. Geist, President; Secretary, Henry C. Wood; Treasurer, Rufus C. Dawes, Hammond, Ind.— V. 78, p. 1279.
A
—The company has filed a
($20,-
A
& Commercial Bulletin" of
:
—See
Net.
Gross.
000) first mortgage bonds, drawn for redemption, will be
paid at par and interest on May 14 at the Colonial Trust Co.
Control—
large, if not a controlling, interest in this
company's stock was recently reported as sold, and the common assumption was that friends of the American Locomotive Co. were the purchasers. Col. William Barbour, tne
largest stockholder, is quoted as denying that he has sold
out to said company. V. 77, p. 93.
March 14.
Michigan Lime Co., Petoskey, Mich.— Status.— The position of tnis company is reported by Edward M. Deane & Co.
of Grand Rapids, Micb., as follows
Capitalization Pref. stook, 6% cumulative. Interest payable Maroh
1 and Sept. 1, $30,000; common stook, $120,000; par value of shares,
Commerce
[Vol. lxxviii.
d
Springfield (Mo.) Gas & Electric Co.— Earnings.— Mason,
Pennsylvania Fnel Gas Supply Co.— Dividend.— This
Lewis & Co., in offering at par and interest $200,000 of the
is reported to have paid about the middle of March
ita third monthly dividend of one-half one per cent,
V. 78, present issue of $350,000 first mortgage five per cent gold
bonds of 1902 (compare V. 76, p. 709), give the following:
p. 824, 282.
OPERATIONS FOB TEAKS 1902 AND 1903.
People's Gas Light & Coke Co.— Decision,— The United
1902.
1908.
States Supreme Court on Monday of this week (Chief
$66,755
$93,619
Grose earnings
Justice Fuller writing the opinion) in the action brought by Expenses, including taxes and insuranoe
42,630
61,398
company
—
the company against the city to prevent the enforcement of
the 75-cent-gas ordinance adopted in October, 1900, affirmed
the decision of Judge Grosscup in favor of the city, rendered
in the United States Circuit Court for the Northern District
of Illinois. The Court holds that under the act of consolidation of 1897 the company has no contract with the Legislature that the price of gas shall not be reduced below $1 per
1,000 cubic feet, and that if the original (People's) company
was protected against reduction under the Act of 1865, such
protection does not extend to the franchises of the consolidated company. The Court therefore dismisses the bill for lack
of jurisdiction, no Federal question being involved, saying:
That the asserted immunity did not extend to such of the system as
passed to the consolidated oompany from companies not possessing
suoh immunity in their own right; that under this bill relief oonld not
be aooorded In respect of part of the system; that no oontraot that the
the price of gas (see V. 78, p. 346, 765). The city has not yet
appealed from this decision.— V. 78, p. 765, 699.
Pocahontas Tanning Co., Wheeling, W. Va.— Called
Bonds. This company, incorporated in West Virginia in
May, 1903, with $1,000,000 of authorized capital stock, has
called for redemption at par and interest at the Security
Trust Co. (the mortgage trustee), Wheeling, W. Va one
hundred ($100,000) of its 5 per cent bonds of 1908, including
various numbers ranging from 5 to 782, inclusive. Total
authorized issue, $1,000,000, of which $775,000 has heretofore
been issued. Coupons payable April 1 and Oct. 1. Incorporators include John G. Hoffman, Frank C. Hoffman and
—
,
James Nelson Vance.
Rapid City (S. Dak.) Gas Light Co.— Status.— This company's
first
$50,000, the
mortgage
5 per cent gold
bonds
(issue limited to
1, 1903,
are subject to call at 105 and
amount now outstanding) are dated May
and are due May 1, 1923, but
intereet at any time; interest payable May 1 and Nov. 1 at
Grand Rapids, Mich.; denomination, $1,000; Michigan Trust
Co., Trustee. Capital stock, $50,000. For vear ending Jan. 1,
l«J05(est.): GroHs, 816,200; net; $6,800; interest on bonds,
$3,500; eurplus, $3,800.
Operates under a favorable 89 year
franchise. A block of these bonds was recently offered by
Edward M. Dsane & Co., Grand Rapids, Mich., at a price to
net the investor about 5}4 per cent per annum.
on outstanding bonds
$32,221
17,480
$14,741
Surplus
COMMUNICATION FROM F. W. LITTLE, PRESIDENT.
The oompany owns and operates the only gas and electrio lighting
business in tbe olty, under a perpetual eleotrio franchise, and a gas
franchise granted for twenty years from Oot. 2, 1902, both favorable
to the company. The oompany is lighting the city with eleotrlolty
under a five year oontraot! dated Sept. 8. 1902, whioh provides for not
leas than 151 arc lamps, moonlight sohedule, at $67 50 per lamp per
year. Dnring the past year both gas and eleotrio plants have been
thoroughly remodeled and greatly extended. The gas plant now has
a total dally oapaoity for the manufacture of coal gas of 240,000
oublo feet, whioh can be increased to upwards of 300,000 oubio feet
at an expense of less than $3,000. A new condensing apparatus has
been installed, having a oapaoity of 500.000 oubio feet par day. Five
miles of mains were laid In the past year am* 300 new consumers
taken on, and upwards or 300 gas stoves sold. The sales of gas for
1903 Increased to 32,000,500 oublo feet. It Is confidently expected
that the sales of gas for 1904 will amount to more than 45,oo0,000
cubic feet, and will continue to Increase from year to year. The price
charged for gas is $1 net per thousand oubiofeet for both light and fuel.
Both the gas and electrio plants now represent the most advanoed
practice in gas and eleotrio engineering and construction.
prioe of gas should not be rednoed below $1 a thousand feec was
acquired; nor was the alleged original exemption merely modified and
extended; and that the decree dismissing the bill, because there were
no nuch contract rights as alleged Impaired or destroyed by the city
ordinance, was right.
The right of the city to fix the price of gas under the ordinance not having been properly presented, is not passed
upon. In the action brought by D. O. Mills, a non-resident
stockholder, an injunction was recently granted by Judge
Grosscup restraining the enforcement of the ordinance on
tbe ground that the Legislature alone has power to regulate
$24,075
Net earnings
Interest
The
}
capital stock is $500,000.
Compare
V. 76, p. 709.
California.— See California Gas &
above.— V. 78, p. 992
Union Electric Light & Power Co. of St. Louis, Mo.—
Bonds. Earnings, N. W. Harris & Co., having sold to investors $3,750,000 of the gold 5s of 1902, offer tbe remainder
of the present issue $250,000 bonds— at 101 and accrued
Standard Electric
Co.,
Electric Corporation under " Railroads"
—
#
—
A
—
circular gives the following:
interest.
Capital stock authorized, $10,000,000; issued, $7,500,000. Five p. c.
gold bonds of 1902 outstanding, $4,000,000; reserved to retire Missouri Edison bonds [$3,400,000 of 5s and $600,000 of 6s], $4,000,000;
in escrow for not to exceed 90 per cent of the cash cost of extensions
and additions, $2,000,000. Total bonds authorized by mortgage,
$10,000,000.
For the calendar year 1903 the cross earnings were $1,432,356;
operating expenses and taxes, $815,220; net earnings, $617,136;
dednot Interest on Missouri Edison bonds, $206,000; Interest on
bonds of Union Electrio Light & Power Co., $107,500; surplus $303-,
636. For the calendar year 1904 estimated cross, $2,500,000; net,
$1,000,000; Interest on nnderlying bonds, $206,000; ditto on Union
bonds, $200,000; balance, eurplus, $594,000 (compare V. 77, p. 40).V. 78, p. 346.
United Was & Electric Co. San Jose, Cal.— See California
Gas & Electric Corporation above.— V. 75, p. 508.
United States Tnbe Co., Buffalo, N. Y.— Sold.—This property was recently sold by the receiver to George Timmins of
Syracuse for $22,500, subject to a claim of $85,000 and interest, secured by $100,000 of 6 p. c, first mortgage bonds [Buffalo Loan, Trust & Safe Deposit Co., trustee], the whole
amounting to a little over $60,000..— V. 78, p, 1121.
£p* Investment
New* concluded on Page
1399.
—
.
Apr.
:
THE CHRONICLE.
9, 1904.]
1397
Qotxxmmts.
fljkports iin&
PITTSBURGH CINCINNATI CHICAGO &
LOUIS RAILWAY COMPANY.
ST.
FOURTEENTH ANNUAL REPORT— FOR THE YEAR ENDING
DEC.
1903.
31,
General Office, Pittsburgh, Maroh
To
the Stockholders of TIls Pittsburgh Cincinnati Chicago
The Board
of Directors herewith
The gross earnings
&
Louis Railway
St.
Company
submit a synopsis of their report for the year ending December
of all linos directly operated
31, 1903:
were
$28,960,821 46
22,278,251 86
Operating, expenses
Net earnings from operating
Deduct rentals paid roads operated on basis of net earnings
$6,682,569 60
425,011 47
operating earnings of the Pittsburgh Cincinnati Chicago
r>et
1904.
9,
&
St Louis
Railway Company
$6,257,558 13
To which add—
Interest from investments
Miscellaneous income
$61,182 40
81,954 46
-»
Gross income
143,136 86
$6,400,694 99
Deduot—
$706,221 56
72
74
90
85
179,659 74
16.086 29
Fixed rentals, leased roads
Interest on bonded debt
2,186,112
132,360
164,524
589,987
Rentals paid for use tracks other companies
Interest, genoral account
Interest, etc, on oar tiusts
Proportion loss in operation of St. Louis Vandalia & Terre Haute Railroad.
Advances to Cincinnati Richmond & Fort Wayne Railroad
Net income
3,974,953 80
$2,425,741 19
From this net income the following deductions have been made:
Contribution to sinking fund for oonsoiidated mo/tgage bonds
Amount sinking fund Dayton & Western Railrjad Co. mortgage bonds maturing Jan.
1,
$359,860 00
60,000 00
1905
Dividends:—
$908,036 00
743,377 50 1,651,413 50
2,071,273 50
Dedaot extraordinary expenditures
Balance transferred to credit of profit and loss for they* ar 1903
iu revising grades and alignment and other outlay not properly chargeable to capital acct.
$354,467 69
347,350 76
Add amount realized in settlement of old accounts
Add amount to credit of profit and loss Dec. 31, 1902
$7,116 93
3.205 96
3,696,512 55
Four per cent on preferred stock
Three per cent on common stock
Balance to credit of
profit
and
loss Dec. 31,
$3,706,835 44
1903
GENERAL BALANCE SHEET
(Condensed)
DECEMBER
3 1ST, 1903.
Assets.
Liabilities.
$101,791,040 4**
1,453,269
Cost of road, equipment and real estate
Cost of securities owned.
Current Assets—
Due by other companies
Due by Little Miami RR.
Due from agents
Bills receivable
1,705,649 06
Capital Stock—
Common stock, P. C. C. & St. L. Ry. Co
$24,780,017 48
Preferred stock P. C. C. & St. L. Ry. Co
22,702,082 68
Preferred stock P. C. C. & St. L. Ry. Co. full paid
reoeipts
4,750,000 00
Common stock subsidiary companies
552,288 66
Preferred sto ok subsidiary companies
6,102 62
447,584 62
766.445 22
2,493.654 26
2,249,462 17 Funded Debt— P. C. 0. & St. L. Ry. Co
"
"
Subsidiary companies
1,250,902 98
405,519 97 Accounts payable for current expenditures
Due other companies
Matured and accrued interest on bonds
Miscellaneous liabilities
,..
Sinking funds
Dividend preferred stock, payable January 15, 1904.
Dividend common stock, payable February 15, 1904.
Co. for betterments.
and miscellaneous assets
Materials
Cash
Sinking funds and trust funds
Profit
37,989,000
10,878,000
2.134 194
828,057
754,373
953,336
1,703,523
454,024
371,691
3,706,835
and loss
$112,563,327 79
00
00
93
71
22
73
32
00
00
44
$112,563,527 79
FUNDED DEBT.
The amount of funded debt December 3b- 1, 1903, was §18,867,000, an increase of $1,936,000 as compared with 1902,
due to the issue of $423,000 consolidated mortgage Series "E" 3J_ p. c. bonds, $2,000,000 consolidated mortgage Series
"F" 4 p. c. bonds, and the redemption during the year under the provisions of the Sinking Fund and otherwise of
bonds amounting to $487,000.
INCOME ACCOUNTS OF ALL CORPORATIONS DIRECTLY OPERATED BY THE PITTSBURGH CINCINNATI
CHICAGO & ST. LOUIS RAILWAY COMPANY.
For the Year Ending December
Oross
Earnings.
Mileage.
Operating
Net
Expenses
including Earn'gt.
&
St. f.ouis
R/
5-63 Ohio Conr.eot g Ry.
23-48 Chartiers Rv
28-04 Pitts. Wheeling &
Kentucky
RR
RR
$
$
$
24,650,401 18,775,516 5,874,885
48,753 178,952
227,705
565,611 135,715
701,326
235
1,417-96
t
*
nterest
Little Miami
En>! lewood
Total
. .
.
Con-
2,956,231
296,897
2,573,557
105,783
382,674
22,478
19449
17,917
4,561
402,681
Interest
and
Other
In-
Company.
Taxes.
1,163-97 Pitts. Cin. One.
Rental
Received
by Subsidiary
31, 1903.
come.
$
$
Oross
Income.
other
Charges,
Net
inelud'g
Extraor'y Income.
to P.
0. 0. <£ St.
L. Ry. Oo.
Deficit
Expenditures.
105.783
706,222 81,954
28,960,821 22,278,252 6,682,570 1,131,233
Loss
or
dends.
$
9
$
$
61,182 5,936,067 3,930,186 2,005.881 1,651,414
178,952
178,952
22,440 156,512 100,000
135,715 10,751 146,466
89,359
57,106
51,624
4,561
Profit or
Surplus
Divi-
105,783
788,176
27,711
392,728
4,561
$
8.
8.
S.
78,072
60,150 S
395,448 1395,446
4,561
5,952 D.
354.468
56,512
5,482
17,922
L.*241,594
1,391
L.*2il,594
""
Dividends guaranteed by Pittsburgh Cincinnati Chicago & St. Louis Railway Company.
The net loss to the Pittsburgh Cincinnati Chicago & St. Louis Railway Company from the operation
and other charges of that Company.
of subsidiary linos
is
included in
:
J
THE CHRONICLE.
398
GENERAL
STATISTICS.
Comparison with 1902.
Tonnage-
1903.
Cin.
Pitts.
1,254,512
4-23
178,043
5-85
34,143,457
1,432,555
438
by
L.
Ry.Co
Lines operated under
own organizations
P.c. inc.
3,223,125
directly
Chic. & St.
Increase.
30,920,332
operated
Lines
Pitts.
operated directly by
Uin Chio. & St. L.
326
93,073,883
10,544,925
1773
103,618,808
355
$19,858,37193 $1,434,912 55
7-79
3,022,363,475
Freight Revenue—
Lines
operated
Cin.
Pitts.
directly
Chlo.
St.
&
by
L.
Ry.Co
Lines operated under
own organizations
their
34 85 miles
and fourth tracks west of Collier's and
from Morgan's run to Coshocton, an an gregate distance of 7 69 "
Freight-runnlne tracks were also completed fro a Burgettstown to Tunnel No. 4, from New Cumberland Junction to Wheeling Juaction, and from Marlon to Becker,
And
also the third
619
"
.4873 miles
Total completed
third and fourth tracks are in progress from Midway
5-21 miles
to Bulger, and from Scio to Jewett
As also a westward siding from Steubenville to Mingo
2-74
"
Junction
And also freight-running tracks from Aylesworth to Heb5-99 miles
ron, and 49th to 55th Street, Chicago
The
13-94 miles
Total In progress
681
$20,752,259 00 $1,491,943 48
Total
operated
Pitts. Cin.
Woodstock, White River Junction to "Z" Tower, Peoria
Junction to Trimmer and Prairie View to Lansing, aggre-
57,030 93
7-75
Extensions were made to your yard facilities at Pittsburgh, Columbus, Richmond, Logansport, and also at Carnegie, Burgettstown, Cementville and North Madison; and
a large amount of work was done in the construction and
extension of passing sidings at various points.
& Michigan
893,887 13
Passengers—
Lines
The double-tracking was completed from Unionville to
aggregating
2,952,330,024
Ry. Co
Lines operated under their
own organizations
70,033,451
Total
during the year and in
:
-
Tonnage Mileage-Llnes
Additional tracks— completed
progress
gating
their
Total
[Vol. lxxviii.
directly
Chic.
St.
&
Ry.Co
by
L.
10,475,586
763,059
786
733,735
132,110
21-96
11,209,321
Lines operated under
own organizations
895,169
8-68
their
Total
The work
of elevating your tracks in Chicago from Illinois
Canal Crossing to the Western Avenue Boulevard, a distance of about one mile, is in progress.
The charges to Capital Account during the year for construction, equipment, etc., were as follows
:
Passenger Mileage—
Lines
operated
Cin.
Pitts.
dlreotly
Chio. & St.
Ry. Co
Lines operated
by
L.
303,637,152
26,776,415
967
10,632,395
922,806
9-50
314,269 547
...
27,699,221
9*67
under their
own organizations
Total
Passenger Revenue—
Lines
operated
Pitts.
Cin.
Ry.Co
directly
Chio. & St.
Lines operated under
own organizations
by
L.
$6,257,727 25
$562,749 33
9-88
252,799 95
33,004 84
15-02
$6,510,527 20
$595,754 17
1007
their
Total
Construction, Right of Way and Real estate—
Second track, Indianapolis & Loganport Divisions
Third and fourth tracks, Pittsburgh & Indianapolis
Divisions
Additional tracks and sidings
Track elevation, Chicago
Freight houses, Pittsburgh, Richmond and Columbus.
Yard facilities, Sheridan, Dennison, Richmond,
Logansport, Hartsdale, Columbus, Indianapolis,
Bradford Junction, Chicago, etc
Shops. Columbus.
Round Houses, Dennison, Logansport, etc
New
Stations
Branch Lines
Right of Way and Real Estate
Miscellaneous
$626, 1 50 34
752,438 29
378,320 86
121,622 94
318,257 92
622,647
595,823
60,009
10,056
86,943
34,573
58,447
98
10
89
87
19
66
50
$3,665,292 54
Equipment—
All Lines Operated Directly or Indirectly.
Locomotives
Car Trust and
statement of average earnings, expenses and net earnings
per ton and per passenger per mile.
_
1903.
0-69
0-55
0-14
2-07
2-05
0-02
Earnings per ton (cents)
Expenses per tou (cents)
Net earnings per ton (cents)
Earnings per passenger (cents
Expenses per passengers (cents
Net earnings per passenger (cents)
PITTSBURGH CINCINNATI CHICAGO &
RAILWAY.
Main Line, including Steubenville Extension Penn.
Inc. or Dee.
1,316,485 89
$4,981,778 43
7.001
7 009
D.
08
LOUIS
LITTLE MIAMI RAILROAD.
Main Line
Xeda and Springfield Branch
Dayton & W«stern Branch
Cincinnati Street Connection Tracks
Total
RR
Branches
Line used jointly with other companies
"
5947
1,163-97 miles
$24,650,400 78
18,775,516 17
Net Earnings
Add:
Dividends and interest on securities
$811,187 05
505,298 84
Total.
7.003
003
943-41 miles
161-09 "
Total
Equipment
I.
ST.
(1-23 miles)
The Gross Earnings were
Operating Expenses
other
The Gross Earnings were
Operating Expenses
Net Earnings
Add:
Miscellaneous Income
Loss
$5,936,067 01
19-31
53-34
2-49
"
"
"
194-49 miles
$2,956,230 68
2,573,557 16
$382,673 52
81,954 46
$464,627 SS
Deduct
Rent of Road
$5,874,884 61
61,182 40
11935 miles
706,221 56
$241,593 58
The earnings increased
$186,416 98, or 6-73 per cent and
the expenses $259,967 23, or il-24 per cent; the net earnings
showing a decrease of $73,550 25, or 16*12 per cent.
The tonnage transported increased 184,758 tons, or 6*95
percent, and the ton mileage increased 12,631,957, or 6*07
per cent. The principal items of increase in classified tonnage were anthracite and bituminous coal, and steel rails,
while there was a decrease in the tonnage of pig and bloom
There were transported during the year 22,841,680 tons, as
against 21,660,060 tons in 1902, an increase of 1,181,620 tons,
or 5-46 p. c. The largest items of increase were anthracite
and bituminous coal, ores, castings and machinery, bar and
sheet metal, and other manufactured articles the largest
items of decrease were stone, sand and pig and bloom iron.
There was an increase in freight earnings of $1,273,658 22, iron. The average earnings per ton per mile were 8-2 mills,
or 7-c9 p. c. The average earnings per ton per mile were 6-5 an increase of 123 per cent as compared with last year, and
mills, an increase of 4-84 p. c. as compared with 1902 the the average cost increased 0-2 mill or 3-08 per cent, the net
average cost per mile increased 0-3 mill making the profit profit being 1*5 mills, a decrease of 1-10 mill, or 6-25 per
;
;
;
the same as last year.
There were 7,865,826 passengers carried, as compared with
7,246,108 in 1902, an increase of 619,718, or 855 p. c, while
the passenger mileage increased 10-46 p. c.
The average
rate received was 2-09 cents, while the average cost increased 006 cent, or 3-13 p. c, and the net profit per passenger per mile decreased 0-05 cent.
Sixty-lour new locomotives were received, 22 to replace
vacant numbers and 42 as additional equipment.
The 3,963 cars mentioned in last year's report as still to be
delivered under the car trust arrangement, under which
1,000 box and 4,200 gondolas wore to be provided for your
line, were received and put in service.
There were 18,566 tons of new steel rails and 520,054 crossties used for ret ewals. and 6,5*7 tons of new and 6,645 tons
of partly worn steel rails and 299,542 cross-ties used in construction of additional tracks and sidings.
The reconstruction of Bridge No. 1, over Monongahela
River at Pittsburgh, was completed, with the exception of
the through truss span over B. & O. Crossing at the north
end and four deck-girder spans between said crossing and
Second Avenue.
The number of passengers carried was practically
the same as last year, but the passenger mileage increased
4-98 per cent.
The average earnings per passenger per mile
were T86 cents, the same as in 1902: The average cost per
passenger per mile increased 0-17 cent, or 6-94 per cent,
leaving a net loss per passenger per mile of 0-76 cent.
There were used in renewals 3,535 tons of new steel rails
and 65,108 crossties, and in construction work 1,008 tons of
new and 954 tons of partly-worn steel rails and 40,560 crosscent.
ties.
The second track between M. I. Tower, near Columbus,
and Alton, 5'86 miles, was completed and put in use.
The passing siding facilities at Alpha, Glade Run, Brookville and Trotwood were materially increased, and a new
yard was constructed at Linwood having 31,967 feet of
track.
The charges to Construction and Equipment Account during the year were as follows:
Additional tracks
Stations, etc
$242,125 11
33,169 64
18,710 54
Total
$294,005 29
RiKhtof way and real estate
9
.
Ape.
9,
THE CHRONICLE.
1904.]
1399
OMPANIES IN THE PITTSBURGH CINCINNATI CHICAGO & ST. LOUIS RAILWAY
COMPANY SYSTEM OPERATED UNDER THEIR OWN ORGANIZATIONS.
INCOME ACCOUNTS OF
I
For the Year Ending Dec.
31st, 1903,
Oper'ng
Exp' 8.
Earn-
ings.
incl'cL'g
ings.
Gross
Mileage.
Interest and other
Net
Gross Charges, ineludi'g
Other
Income.
Extraordinary
Income. Income.
Net
Earn-
~9~
~~
28*15
9
746,628 575,85? 170,773
348,259 238,765 109,494
143,181 120,868 22,313
GENERAL REMARKS.
of the past year shows a further gain in volin the number of tons handled being 1,432,555 ton?, or 4-38 per cent. The average rate per ton per
mile was 6-9 mills, an increase of 0-3 of a mill as compared
with the preceding year. There was an increase in the cost
per ton per mile of 0-3 of a mill, so that the net rate received
was the same as in 1902.
The volume and mileage of the passenger traffic both show
a gain as compared with 1902, the entire number of passengers carried being 11,209,321, an increase of 8-68 per cent,
while the increase in mileage was 9*67 per cent. There was
a slight increase in the net earnings per passenger per mile
as compared with 902.
After providing for all charges and liabilities, the net
earnings were sufficient to provide for the regular dividend
of 4 per cent on the preferred stock, and a dividend of 3 per
cent upon the common stock, and leave a balance of $3i4,467 69 to be carried to the credit of profit and loss. There
was charged against profit and loss the sum of $347,350 76 on
account of extraordinary expenditures in the revision of
grades and alignment, improvement of freight equipment
and other outlay not properly chargeable to capital account.
As shown in the General Balance Sheet, there was charged
to Capital Account during the year for construction, right
of way and real estate $3,665,292 54, and for equipment purchased $1,316,485 89, a total of $4,981,778 43. In order to
provide for these expenditures an allotment of preferred
stock was made at par under resolutions of the Board of
Directors October 28, 1903, to the stockholders to the
amount of ten per cent of their respective holdings on
December 1, 1903. There was issued in pursuance of this
action $4,750,000 of Preferred Stock, and this increase
appears in the balance sheet of the Company.
In order to meet the further expenditures that will be required upon ycur lines from time to time in the construction
of additional main tracks, increase of terminal yards,
shops and other facilities, the elevation of tracks of your
Company in Chicago made necessary by municipal legislation, and to provide for the payment of underlying bonds of
constituent companies maturing in the immediate future,
the Board authorized the creation of Series " F," of your
consolidated mortgage bonds in the sum of $10,000,000 bearing interest at four per cent per annum and running for
fifty years from December 1, 1903, and of this series $4,000,000 have been issued.
The Chartiers Railway showed a large increase in gross
earnings but a much larger increase in expenses, due to the
renewal of several bridges, the construction of seoond track
between Boyce and Houston, and to increase in repairs of
locomotives and freight cars. The second track from Boyce
to Houston will be completed early in the current year.
storage yard, with a capacity of 121 cars, has been built at
The
trafflo
ume, the increase
1
A
HoustOD
The Waynesburg & Washington Railroad, which is conby the Chartiers Railway Cempany, shows a slight
increase in gross earnings and a large inorease in expenses,
9
170,773
109,494
" 1,875 24,188
United States Realty
—The
&
Construction Co.— Directors—
the following
new management announces
board of directors and executive
officers:
Black, Charles M. Sohwab. P. A. Valentine, Henry
Badge, Henry L. Hlgginson, S. P. McConnell, John W. Gates, James
StUlman, H. E. Huntington, Albert Flake, Robert E. Dowllng, Frank
H. Ray, Edwin Hawley, Kenneth K. MaoLaren, B. M. Fellows, B. G.
Babbage, Faulkner Hill, Morris B. Mead.
Otfloers: H. 8. Black, President; R. E. Dowllng. Vice-President;
Albert Flake, Vioe President; B. M. Fellows, Treasurer; B. G. Babbage, Secretary and Counsel.
Directors
:
H.
Increase
or
or
dends.
Deficit.
Deer ease.
8.
Strike Cff.—The strike of the bricklayers' laborers, which
began in tnis city on March 4, andjwhich, as supported by the
bricklayers themselves caused a suspension of operations by
some thousands of workmen who were employed in large
,
bnildings in process of exterior construction, was called off
6, the men having consented to arbitrate the relatively small matters in dispute.— V. 78, p. 828, 587.
on April
—
Westmoreland Coal Co.— New Stock. Possible Dividend.—
The shareholders adopted April 6 a proposition to increase
the capital stock from $2,500,000 to $3,000,000. It is rumored
that this increase will be distributed to the shareholders in
the form of a 20-per-cent scrip dividend, convertible into
stock. Par of shares $50. Further data:
The dividends paid slnoe 1884 follow: 1885 to 1R93, 8 p.o. yearly;
1894, 6*s p. c; 1895 to 1903, 6 p. o. yearly (A&O). with some
txtras, Including 2 p.o. paid in 1902. There were at last accounts
$250,000 ox 5 p. o. purchase money mortgage notes outstanding,
covering Pittsburgh coal in Westmoreland C unty, and subjeot to call
June 1, 1897. Dlreotore: Horace Magee, Richard H. .Downing, T
9
9
9
9
38.79F 40,000 D. 1,291 D. 8,622
D.85,35^ 1.177,764
D.85,352
24,188 12,033 S. 12,155 D. 4,9^7
9
132,064
191,846
due to replacing 15% miles of track with heavier rails,
to increase in passenger train service.
and
*
Youghiogheny Railway shows
The Pittsburgh Chartiers
a slight increase in earnings, and a large increase in expenses, chiefly due to increase in wages, increased prices for
fuel and extraordinary expenditures on bridges and trestles.
The Pittsburgh Wheeling & Kentucky Railroad shows an
increase in both earnings and expenses, with a decrease in
net earnings, but the latter were amply sufficient to meet
all liabilities and provide for the payment of a liberal dividend upon the capital stock. At Short Creek, a passing
siding 1,376 feet long was constructed, and at Riverside a
yard having a capacity of 35 cars.
The franchise and right of way of the Meadowland and
Zediker Railroad Company were purchased and the work of
construction of 9,075 feet of track is in progress.
The change of grade of the Englewood Connecting Railway so that the portion between Stewart Avenue and Halstead Street, Chicago, a distance of about a half mile will be
elevated, and the tracks then reach grade at a further distance of about two-thirds of a mile, is progressing in accordance with the requirements of the municipal ordinances
of that city.
Muskingum Valley RR. shows a large
The Cincinnati
increase in gro3S earnings, an increase in expenses and an
increase of thirty-eight p. c. in net earnings.
The Duff Branch of the Ohio Connecting Ry. was completed, as also the eastern connection of that road with the
Chicago Ry. in Allegheny, and
Pittsburgh Fort Wayne
material progress has been made on the new double track
western connection in that city crossing the westbound
main tracks of the Pittsburgh Fort Wayne & Chicago Ry.
overhead and connecting with that road near McClure
&
&
Avenue.
The work of grading and the masonry for the new weighing and distributing yard of the Ohio Connecting Railway
near Scully Station was actively pushed during tbe year, as
also the double-track connection between that yard and
your main line. It is expected that the yard will be completed in the coming summer in time to materially aid in
the prompt handling of the large lake coal traffic originating on your lines.
In order to provide funds for the completion of the Scully
Yard and double tracking of the western connection with
the Pittsburgh; Fort Wayne & Chicago Railway near
McClure Avenue, Allegheny, aud for other corporate purposes of the Ohio Connecting Ry. Co., an issue of $2,000,000
of its first mortgage bonds was made under date of September 1, 1903, maturing September 1, 1943, and bearing interest
at four per cent per annum, the payment of the prinoipal
and interest thereof being guaranteed by the Pennsylvania
Co.
The Board desires to acknowledge the effioienoy and
fidelity
with which the
officers
and employees performed
their respective duties during the past year.
By
trolled
Officers.
Surplus
Divi-
Expenditures
Taxes.
148-45 Cincinnati & Muskingum Valley RR20-64 Plttfl. Chartiers & Youghlogheny Ry..
and Comparison with thk Ykar 1902.
order of the Board,
A.
J.
CASSATT,
President.
Wlstar Brown, Wm. D. Wlnsor, Wm. Carpenter, Geo. Tuoker Blsp
ham, E H. MoCuiloogh, Lewis A. Riley, Baw»rd Lowber Welsh and
Geo. D. McCreary. H. O. Adams, No. 234 So. 3d St., Philadelphia, la
Secretary—V. 75, p. 803; V. 71, p. 1817.
West Virginia Pulp & Paper Co.— New Mortgage.— A new
mortgage has been made to the Washington Trust Co. of
New York, as trustee, to secure $1,000,000 of 5 per cent first
mortgage gold bonds, dated April 1, 1904, and due May 1,
1924, but subject to call in whole or in part from May 1,
1905, to May 1, 1914, at 105, and thereafter at par; interest
payable November 1 and May 1; denomination, $1,000.
These bonds cover plants and real estate in this State,
including, it is understood, certain property formerly belonging to the Hudson River Water Power & Paper Co. and
the Howland Paper Mill.
Additions.— The purchase of the Duncan Paper Mill at
Mecbanicsville, this State, was announced some weeks ago.
The Rlter-Conley Manufacturing Co., Pittsburgh, builders of
heavy
steel
construction of
all
kinds, recently took a contract
for a large extension to the plant of the company at Piedmont, W. Va.; about 1,000 tons of steel being required.
Compare V. 78, p. 291, 847.
West Virginia Steel Co., Wheeling, W. Ta.— Sold.— This
companv's plant, never operated, was sold at foreclosure sale
on March 12 to Charles H. Copp for $39,950. See V. 78, p.
588, 235.
White Cliffs Portland Cement & Chalk Co.— Sea Southwestern Portland Cement Co. above,— V. 73,
p. 394.
—
.
THE CHRONICLE.
1400
COTTON.
Friday Night, April
from the South to-night,
8, 1904.
fairly satisfactory condition of business has been experienced and has been reflected by the steadiness of values
shown for incst staple products. As a general rule mer-
chants have reported no heavy buying, the demand from
jobbers and dealers being confined in most instances to such
supplies as have been needed to keep their current requirements well protected. The condition of business in the iron
and steel markets has continued to steadily improve. The
outlcok is considered promising for a good trade for some
time to come. In the speculative markets declining: prices
for grain has been the feature, based on improved crop indications and more favorable weather conditions for spring
Lard
Tobacco, domestic
tos.
hhds
bags
Coffee, Brazil
bags.
Ooflee, other
mats.
Coffee, Java, Ac
Sugar.. .................... hhde.
Bnjrar....
bags, Ac.
1,800
28,000
7,992
1,846
2,747,798
349,380
109,477
None.
214,054
None.
11,600
80,843
28,076
1,744
1,004
1,500
18,000
None.
1.303
20.974
None.
None.
99,200
10,900
109,455
19,718
bales.
bbls.
bbls.
bbls
b
bb
Sice, domestic
Linseed....
Saltpetre
bags.
bags.
Manila hem»
bales.
bales.
bales.
hemp
Jutebntrta
bbls. and sacks
734
131
Receipts
at—
Sat.
\
Mon.
Wed.
Tuts.
Thurs.
tri.
Total.
2,794
148
1,637
7
13,769
Galveston.
Sab. Pass, Ac.
New Orleans. .
Mobile
Pensaoola, Ac.
......
875
598
1,224
565
378
320
318
Bnmsw'k, Ae
•••...
a... .«
•*..
......
•••••
....•
14
78
......
2,803
3,108
2,490
139
1,035
......
.....a
......
......
......
1,364
2,660
2,750
7
1,918
963
1
5
•
......
•••••
155,5*7
132,093
None.
159,669
None.
41,000
57,443
26,861
386
1.300
4,100
12,500
None.
542
50O
1,688
None,
79,700
Lard on the spot has had only a mod&rate sale and prices
have shown a lagging tendenoy, especially for Western,
closing at 7-1 5c. for prime Western and 6'50c. for prime
Refined lard has been dull and easier, closing at 7 2t5c.
Uity.
-
for refined for the Continent. Speculation in lard for future
delivery has been quiet and prices have declined in sympathy with the weaker market for cor». The close was quiet.
DAILY OXOUHO PRIOBS 0» LAJU) FOTUKBB EN CHICAGO.
Thurs. ¥H.
Wtd.
Tuts.
Man.
Mat.
6'67i«
Holl6*75
6 85
6 90
7 00
May dePy682i«
7-10
day.
702»«
7-17 1a
6 92**
Julydel'y
Pork has had only a limited sale but prices have held about
steady at $14 25@15 20 for mess. Cut meats have been neglected. Tallow has been quiet and easier, closing at 4%c.
Cotton-peed oil has been quiet and easier at M<&ii%c. lor
prime yellow. Butter has been in increased supply and
easier.
Cheese has had a fair sale at steady prices. Fresh
eggs have been slightly easier.
Brazil grades of coffee have been firmly held. Trade dsmand has shown a slight improvement, and offerings of popular grades, due to limited stocks, have been light. The
clcsewas steady at 7c. for Rio No. 7 and 7%c. for Santos
No. 4. West India growths have been in full supply, but
prices have been steady at %%g. for good Cucuta. Speculation in the market for contracts has been moderately active,
and prices have advanced on unfavorable crop news from
Brazil. The close was quiet.
Following are the closed asked prices
6-10e. Nov
6-50e
April
5-75e. iJnly
6-35e. Deo
5-tOe. Bepi
May
660c
6 -98c. Oct
6'45e. Jan.
6 85*
June
Raw sugars have been dull, land nnder limited offerings
prices have weakened Bllghtly, closing at 8%«. for centrifugals, 96-deg. test, and '6}i<s. for muscovado. Refined sugar
has been unsettled. Arbuckle Bros, lowered prices 10 point*
other refiners held steady, closing at 4'45@4 55c. for granulated. Teas have been steady.
:
110
165
...a
mmsBmmt
•
2
Wilmington
Wa8h'ton,&o.
6,636
9,165
2,054,465
1,257
19,992
5,682
None.
72.808
No.
Cotton...
Hosln
"nlrlte turpentine
Tar...
.....
Kice, E. I
April 1,
1903.
None.
None.
223.672
200
Hides
1,
1904.
7,697
1,807
2,521,187
376,518
107.205
hhds.
Molasses, foreign...
Mch.
6,741,742 bales, against 7,089,010 bales for the same period of
1902-3. showing a decrease since Sept. 1, 1903. of 847,268 bales.
Charleston.. ..
Pt. Royal, Ac.
farm work.
April 1,
1904.
is
evening the total receipts have reached 40,133 bales,
against 56.125 bales last week and 64,442 bales the previous
week, making the total receipts since the 1st of Sept., 1903,
this
A
Btoekt of Merchandise.
Friday Night, April 8, 1904.
as indicated by our telegrams
given below. For the week ending
The Movement op the Crop
COMMERCIAL EPITOME.
Flour
[Vol. lxxviu.
(Cowwjeraal ^imjes*
3£lx*
Sisal
,
.
.
10
5
......
148
11,292
295
320
3,958
99
8
.....
8
224
2
25
187
......
......
1,899
554
646
6.959
188
103
168
589
302
166
187
-••>•
„.,.,
..••-
49
40
978
998
203
105
542
22
9,181
3.687
8,345
40,133
News, Ac.
New
......
1,070
187
275
N'p't
......
1,812
Norfolk
York.
•
Baltimore
Phlladelp'a,*e
a.....
Tot
7,5781
37
week.
this
8.109
3.283
998
968
1,405
542
148
The following shows the week's total receipts, the total since
1, 1908, and the stocks to-night, compared with last year.
Sept
1902-03.
1903-04.
Receipts to
April 8
This
week.
Since Sep.
1, 1903.
Galveston...
Sab. P., Ac.
12,789 2,270,180
148
99,413
New Orleans 11,292 1,840,077
Mobile
295 180,714
320
Charleston..
P. Royal, Ac.
Wilmington.
Waah'n, Ae
Norfolk
N*portN.,Ac
1,551
100
46
490
386
446,108
17,886
10,808
22,158
24,981
18,617
998
968
1,405
642
148
Baltimore.
Phlladel.&o.
40,138 6,741.742
Totals
27,780
14,882
1,284
New York...
Boston
620
126,500
6,959
Since Sep.
1, 1902.
1904.
4,899
148
187
1,685
798
142
132,130
2,083,800
200,292
148,958
1,248,822
123,004
207,832
231
327,901
387
463,600
30,957
28,115
83,812
87,924
23,077
67,426 7,089,010
1903.
25,282
46,934
285,367
182,485
5,182
12,884 1,958,578
8,958 1,086,584
......
120,760
99 150,i87
1,077
8
224 820,901
P*saeola, Ac.
Savannah...
Br'wlck, *o.
This
week.
Sta
5,918
49,380
7,246
4.040
54,087
3.262
6,314
4,945
11,281
8,121
3.808
329
110,992
36,000
1,477
2,610
59,667
37.000
4,124
2,617
516.236
362,232
In order that a comparison may be made with other years
the totals at leading ports for six seasons.
we give below
at—
1904.
1908.
1902.
1901.
18,454
27,780
Savannah...
12,917
11,292
295
3,958
25,408
26,737
66
7,760
Chas'ton, Ac.
Wllm'ton, Ac
107
224
16,674
14,473
1,094
9,388
1,214
3,255
2,485
348
12,108
13,672
61,039
67,875
Receipts
Galves'n, Ae.
1900.
Orleans
Mobile
Norfolk
490
300
532
6,959
New
4,899
3,597
998
416
5.802
26,549
25,925
1,785
10,374
1,007
1,196
4,710
142
19,278
70,618
90,946
1,551
14,882
16
N. News, Ac.
All others...
3,383
148
4,176
wk.
40,183
67,426
1899.
14,308
30,181
1,017
4.4S7
956
103
2,982
239
I
;
Kentucky tobacco has been in steady demand. Western
quiet
advio-s have reported fair sales at higher prices.
market bas been reported for seed leaf tobacco, the business
transacted being limited to a few small transactions. Arrival of new crop Sumatra tobacco has received prompt attention frcm buyers, and prices have been firm. Havana
tobacco has been in fair demand and firm.
Offerings of Straits tin have been moderately free, and with
the demand limited prices have yielded slightly, closing at
Ingot copper has continued to meet with
28@28-.30c.
A
a fair demand and prices have advanced to 18^@18%o, for
Lake and 1338@18>£c. for electrolytic.
Leaa has held
Spelter has advanced to 5*25@
steady at 4"(JU(94d5c,
5'80c.
Pig Iron has been in fair demand and firm, closing at
$14 75@15 25 for No. 2 Northern and $13 75 for No. 2
Southern.
Refined petroleum has been easier, closing at 8'40c. in bblp.,
H'lOc. in cases and 5*50c. in bulk. Naphtha has been unchanged at 12*40c. Credit balances have been easier, closing
Spirits of turpentine has been more freely offered
at $ 1 65.
and prices have declined to 56^@57c.
Rosins have been
steadier,
closing at $2 85 for
common and good strained.
Wool has been firm
Tot. this
Since Sept.
1
6741,742 7089,010 6949.878 6602,777 6108,886
The exports for the week ending this evening reach a total
of 55,220 bales, of whloh 81,953 were to Great Britain.
to France and 28,267 to the rest of the Continent,
Below
are the exports for the week and since Sent. 1, 1908.
Week Ending Apr. B,
Extorted to—
Exports
from—
Or eat _
Conti- lotal
BrWn.\'fan"\ nmt. Week.
|
UalTeston....
Sab. Pass, Ac.
New Orleans..
1
6,311
1,611
0,866
1P.112
6,820
9S.932
7B8
768
808
Pensaoola
BuTannah-
5,7ti0
1, 1908, to Apr.
Exported To-
Sept.
Great
Britain.
Continent.
Iranct
76B.402 816,81*
17,115
027,246 233 37*
36,122 16.30S
05.09-
88,097
18,691
65,064
6.790
170.465
66.29V
653,149
84,b01
7,124
18,056
Charleston....
Port Royal....
67,880
Ac
6,85(
234,458
1,000
Wilmington...
200
86?
New York
83.6(52
130.370
Baltimore
26
200
7.U70
13,207
99
900
188,638
60,636
61,957
27,233
27
1,119
Philadelphia.
3an Fran.,
26
6,637
1,671
N'port N.,
200
Ac
360
1,770
2.019
200
850
8,
1901
Total.
696.614 1.778,565
: 2,018
89.138
535.02- 1,391,610
808
Brmnswlok....
1.396
116,628
116.779
779,903
91,925
13,055
308.688
2.066
34,492
1,526
812,870
86,302
86,419
9,146
89.817
99,679
39.841
566?
66.920 2,167,438 661,996 2,486,506 5,308,910
Hops have been quiet and unchanged.
but quiet.
From
1904.
Total. 1909-08.
6a.":0'l
4,10<I 6f>.J0» 112,319 »,60*,»1!1
780.H6
1
2,741,401 H.075,686
.
.
.
.
Ape.
9,
THE CHRONICLE.
1904.J
In addition to above exports, our telegrams to-night also
give as the following amonnti of ootton on shipboard, not
cleared at the porti named. We add similar figure* for
New York, which are prepared for our special use by Messrs,
Lambert
:
.
1401
—Highest, lowest and closing prices at New York.
Futures.
* Barrow*. Produce Exobansre Building
OH SHIPBOARD, HOT OLBAHKD FOB—
Leaving
April 8 at—
Other CoastGerGreat
Britain Fr'nee many. far'gn wise.
New
Savannah..
Charleston
Mobile
Norfolk
150
434
6,991
"250
800
247,730
11.916
49,380
4,040
5,118
8,700
3,299
6,400
2,664
4,533
5,792
Orleans.
Galveston.. ..
stock.
Total.
8.700
2,200
3,200
108,782
40.776
690
17,637
13,366
HtMl
..
. .
"550
9.fS8l
i,H6q
2.000
"9*06
800
"406
Total 1904..
18,925
2,664 11,949
8,081
45,908
470,333
Total 1903..
Total 1903..
22.824 4.A3612.959 18.476 7.385 66,540
47,456 17.670|lb\820 22,868 16,784 121,597
2t5,692
571,074
New York
Other ports
.
9,584
Speculation in cotton for future delivery has been on a
moderate scale only and there has been a gradual sagging of
The
Statistically the market is in a strong position.
prices.
viesible supply of cotton is smaller than last year, and, judging from the smallness of the receipts, the figures recently
given out by the Census Bureau will prove to be not far from
correct. Despite the small supply of cotton, the market
lacked spirit. It was pointed out that at ruling prices the cost
of cotton is high, and that therefore consumption should be
curtaUed to some extent. The market has been adversely
affected by the movement to curtail production in Fall River.
A majority of the mills in that city producing print cloths
shut down on Thursday night and will not reopen until Monday morning, and this method of reducing the output will be
continued weekly until the demand improves. Some mills at
other points in New England are also curtailing. A limited
amount of "long" cotton has come on the market, and as
At the
prices yielded, the offerings were quietly absorbed.
close of the week reports were received from Manchester of
a better demand from the Far East, and this had a steadying
influence. To-day the market advanced during the early
trading on the receipt of advices from New Orleans reporting fair sales of cotton for export. Daring the afternoon,
however, under realizing sales the improvement was lost.
Toward the close the market again rallied on reports of backward weather in the cotton belt, and the close was steady at
a net advance for the day of 8@ 13 points. Cotton on the spot
has been easier, but the close was steady at 15c. for middling
uplands.
The rates on and off middling, as established Nov, 18, 1908,
by the Revision Committee, at whioh grades other than
middling may be delivered on oontraot, are as follows.
***
l'SO on Good Middling Tinged . .0.
Bven
_
Middling Fair...... ...... 096 an Strict Middling Tinged
006 of
062 on Middling Tinged.
012 off
atrlot Good Middling
44 on Strict Law Mid. Tino-ed... 014 of
Good Middling
-
-
Low Middling
Low Middling
0-80 off
0-14 of! Low Middling Tinged.
0-38 off atrlot Good Ord. Tinged...
04 0*
0*72 off Middling Stained
Strict Good Ordinary
050 oi
Good Ordinary....
.. 1-00 ofl Strict Low Mid. Stained... 1*06 ofl
1*50 ofl
Strict Good Mid. Tinged.. 080 on Low Middling Stained
Strict
On this basil the official prioes for a few of the grades for
week— April 2 to April 8—would be an follows
the past
UPLANDS.
1
Good Ordinary.
W
Low
Middling..
Middling
Good Middling.
Middling Fair..
**
i
GULF.
Sat.
Wed Th.
Tues
Sat. IQon
Frl.
14-45 14-00 13 90 13-90 1400
1607 14-62 14-52 14 (2 14 62
1515 15 00
15 00
15-44
10-89 10-44
16-41 15-96 15-86 15-86 1596
BS! its
ITlon
Tues
Wed
Th. Frl.
MtO
1
1
1
1
a
I
to to
to to
to to
wto
M© HO HM eoto ©CO
MW moo
00
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a
9
«
MM tot? MM to 9 WW
to to
to
tots
MM
MW 66
ww tow 00 cow CiW
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1
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COM
a
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»to WM too ©co
to to
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WO Mb5
9
9
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Wto
ao
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OO
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t-tf
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*"*t
oicc
t^a.
*"*!
<i<i
*!*i
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M
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*oto
00
1*00
**-
_,
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(_,
ftOtO
10
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10
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I
9
MM
t^y cbdb
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tota
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10
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oco
»floa
I
II
I
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to
1
*
M
10
I*?
w
6
W
w
w
Thb Visible supply of Ootton
II
o
OWi
CD
'
i»>
10
M
*
L-i
I
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-a
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*
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"*"
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10
10
w
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00
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M
o
o
o
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10
I
2
9
I
^**
I
_,
10*.
m
t-tf*
coco
coos
ow coco oftCb Wto too
coto
obw <i-i
19 |0
9 |0
19
9 10 MM MM 10 19 MM M|
M(
M
M(
MtO MtO
tOtO
ft->
^1^ *.W
II
II
000 000 O— -3CD WCD COM
00 to
00 ooco^ eo> om 00*. MM
MM MM MtO
w
II
II
M« ODO
coco
MCO MtO
»0 coo COCO MCO MW »w bob
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00
to
to-night, as made up by
<able and telegraph, is as follows, Foreign stocks, as well
u the afloat, are this week's returns, and consequently all
'oreign figures are brought down to Thursday evening,
Sut to make the total the complete figure* for to-night
April 8), «/6 add th« item of exports from the United States,
noiuding in It the exports of Friday only.
1904.
1908.
1002.
1901.
565,000 690.000 1.122.0O0 789,000
l
..........
12,000
7,000
6,000
12.000
•toak at Manchester. ... .__
66.000
Total Great Britain stock. 642,000 697,000 .128 000 601,000
tack at Hamburg .. MM ^^
13.000
12 000
14.000
16,000
mak at Bremen „«, MMN. . 324,000 316,000 283.000 244 000
9taak at Antwerp ....... »»^..
3.000
4,000
6000
6,000
naak at flterre.... ..~ «.— ~- 213.000 223,000 229,000 163,000
8000
noak at ManeUlee
3,000
2.000
4.000
81,000
ttaok at Bareelon a
40,000
51,000
29.000
_..
88,000
19,000
Ttoak at »*noa..„
32,000
_.._
39,000
7.000
5,000
stook at Trieste . ..^~ .. M __
5.000
8,200
Total Continental stocks. 631.000 623,000 572.000 507,200
Total Buopean tooks_i,273,ooo l,320,ooo i,7iK),ooo 1,308,200
ndla cotton aioat for Europe 230.000 245,000 110,000 124,000
jm ex. eetton afloat f or E'rope. 183,000 488.000 21 <.O00 384.000
29,000
61.000
65 000
Bgypt.BraEll,*fl..aflt.for£ rpe
28,000
190 000 1 80.000
Iteak In Alexandria, Egypt. .. 221,000 115.000
533.00O
Mack In Bombay, India....... 402,000 678,000 589.000
ttoakln United States ports., 616,236 362.232 692.671 759,612
nock in U. B. Interior towns. 259,867 213 296 367 948 551.028
6.5-0
i mted States exports to-day. _ 22.413
9388
24352
Total risible supply
3,136, 516 3,48<*,10s" 3,937,007 8,892,192
Of the above, totals of American and other descriptions are as f onow •
__
art i* LoMdon.^^.
siooa- at
Liverpool
bales.
H
.
t
Good Ordinary..
Low
a
o
c
-
Middling...
Middling
Good Middling..
Middling Fair...
»>
14-70 14-25 14-15 14-15 1415
1.V32 1487 14-77 14-77 1487
15 »6
15 70 1525 15 15
io-14 15-69 1659 15-59 io69
1666 16-21 1611 16-11 16-21
Sat.
Low Middling
Middling.
Strict Low Middling
Tinged..
Won Tues Wed
Holi-
STAINED.
1395 1350 1340
1495 14-50 14*40
day.
Th. Fri.
113-40 1350
114 40 14-50
15-11 14-66 14-66 14-56 14-66
15-45 16-00 14-90 1490 1500
Good Middling Tinged
The Quotations for middling upland at New York on
April 8 for *»*ob of the p*st 82 vears have ^een as folJovs.
1
1904.. ..0.15 00
..10-45
1903.
1896. ...0.
1902
1901.
1900
1899
1898
1897
1894
. i,93 16
83s
9^
18»6......
7\
63g
7\
189S...... &"ia
1892...~. 6%
I891...~. 8I618
1887
1886
1885
913 16
10e, 6
1880....o.l28g
1879...... 11»«
1878
100a
113 16
1888. ...0
1877
1876
9H
11%
1384
1883
1882
1881
dl7i8
133e
1875..... -168e
63 l8
10
17
1874
6» l6
I890..~«im
12lie
10B 18
19%
1878
18*9
10%
73a
Note.—On oot. 1, 1874, grades of ootton as quoted were ohanged.
Aooordlng to the new classification Middling was on that day quoted
*jo. lower than Middling of the old classification.
MARKET AND SALES.
spot Mabkit
Closed.
JfUTDBM
ULBB OV SPOT A OOHTB4.G7
MABKBT
OLOBBD.
OOrt.
Saturday
Dull, 10
Monday.
Tuesday
Dull, 45
Wednesday Dun, 10
Thursday Dull
Friday...
Total.
Oontump.
Holi day...
3,900
pts. ad. «eady
pts. do. BTly steady.
pts. do -»teady
1,037
1.037
fetai.
3,900
405
200
ib'o
iob
200
100
1,237
405
4.3M)
5.742
305
Quiet A st'dy
<julet,10pte.ad, -steady
Oontract.
.
Amenean—
bales.
dToraaal stock
Manchester stock......
461.000 620.000 1,005,000 678,000
65,000
591,000 535.000 455,000
Jonttnantal stocks...... ....- 575,000
Vmertoan afloat for Europe... 183.000 433,000 213.0O0 384,000
Tnitad States stock ..... ...... 516,236 362 232 692 671 7£>9,612
551,028
Tnlted States interior stocks. 259,867 213,296 3b7.948
6.580
24 352
22.413
9,388
Tnlted States exports to-day
Total American
.2,082,516 2,281,108 2,82^,007 2,851,992
Baal Indian, Brasil, 4c—
75.000 117,000
111,000
•* verpool stock ...... _.. tmmmm
104.000
6,000
12.000
7,000
12,000
Loaian stock
52.200
37,000
66.000
32,000
MittXnental stocks
_...
230.000 245,000 110,000 124,000
odla afloat for Europe . .._
65.000
28,000
61,000
29,000
itgypt, Braill, Ac, afloat
221.000 115.000 190,000 180,000
'.ock in Alexandria, Egypt.
402.OC0 678,000 58J.OOO 533.000
.took in Bombay, India.
Total East India, Ac ^^. 1,054,000 1,208,000 1,114.000 1,040,200
2,082,516 2,281,108 2.323.007 2.851,932
Total American... ...
Total Tlilble supply. —^3,136,51 6 3,489,108 3,9^7.00 7 3,892.132
419 sa d.
5-40d.
828d
Bhed.
fiddling Upland, Liverpool.
10-500.
1500c
middling Upland, New York..
9H0.
6'8<i.
lOHd.
6»i6d.
9»sd.
Sgypt efood Brown, Liverpool
7>*d
7d.
7-90d.
?arn r. Bough Good, Liverpool 10-50d.
41l, 6 d.
4 9gi.
7» t «d
5d.
Sroaoh Bine, Liverpool.. ..^.
4Bi 6 d.
4%d.
73 16 d.
5d.
Clnnevelly Good, Liverpool...
.
.
._
Continental imports pa?t week have been 65,000 bales.
figures for 1904 show a decrease from last week
of 76,536 bales, a decline of 352,592 bales from 1903, a decrease
of 800,491 bales from 1902 and a loss of 755,616 bales from 1901.
The above
o
..
..
THE CHRONICLE.
402
J
[Vol. lxxviii.
—
Quotations fob Middling Cotton at Otheb Markets,—
the movement that la the receipt B
week and since September 1, the shipments for th e Below are closing quotations of middling cotton at Southern
week and the stocks to-night, and the same items for the and other prinoipaf cotton markets for eaoh day of the week,
oorresponding period of 1902-03— is set out in detail below.
OLOStlfG QUOTATIONS FOB MTDDLIKO OOTTOH OH—
Week ending
April 8.
* O ,3 f UJS
ErS -*» M-2&
Wednet. Thurt.
Pri.
Satur.
Mon.
Twm.
At the Intebiob Towns
for the
*»
?Q
t
t-.
*
o
a
CO
to
:
3as§
B-ftB
oq"2o
S3
<3
.
lirfsslSHe
®- o <*
p.~
f all
»r
Salveeton...
H»0
©
3
—3
00 »3
£ alt
»0;
I
*
9 w
b
IPS
s =53
:
Si
.
(0
-
«
>
Mobile
Savannah...
Charleston
Wilmington.
Norfolk
Boston
Baltimore .
O
>
r
>>
.
- CO
Philadelphia
Angasta
....
Memphis....
2
1
w
100
to
;
*»
St. Lotus....
Honston ....
*. >
* & IO tOwfflj www. t>COC»! ©M VI
-1 1* tO 00
«* *» >-"»J © X © OD tO © #* -J tO *» MOD COW •a*' — 69' ^ V CO CO OC
wc« Hi
OH
©OC.
rH«D
r»-
>*
H r
r»
•JK3r»OCi5 — ^»0>-'"'r«C00S»'»W0»a5'i(>.eD
-q
CO
tfc
r»
tO
r»
ift.Cr«k<OtO««oO:©Ct«>-
«.Jlr>'O»a«J©~]00©C0W>- ©c0©«kC£>»0* VCC W 05l^©0D ©»_- 00 OTJO^l
VjVoo^towoVsMO^J^Jto'i-'co^o'weo'o'r no ooaWw »"--*«» w*» rn'to'cr
0>ibUUr^O>0 0}|^l£>CC rJlOODOCO«> A^HCOlOMtOO^M^OOO^ft
ocototo./^ooi-JOtocotc'ccoo-. o^viwirMfooo ** 'Oiwo*
1
165, 6
141&, a
14"*8
M*.
h
o
c
iMte
14%
14&8
Vi"B
15-00
1500
9
15-70
15%
•
f
1500
1515
15-15
15-15**
15
15Jhj
15ifl
161fl
I
15ie
t
1
<
1525
151H5"h3
_
14' 8
15
.
15
15
14%
14I>8
Oolambus, Oa. 14
OolambaSrMlsS 14*4
15
14-90
15-00
,
14-8
15
15
f
14**
15
14-90
15
15-46
16
15-25
15
16 35
14%
14Bg
16
15>4
(*>
15
I416 1#
14~8
11%
14%
14%
14%
14=B
•
t
14%
Atlanta.
15
14-*
9
15
14 6
15
15
I43g
The olosing quotations to-day (Friday)
Southern markets were as follows.
,
OS
to
15
lR
163 lfl
Uttle Rook
•
r»r-W05l-*'-4'OtOOi:?-©iP»'ewtO
I
•
•
•
..
t
>«r>M<
.
H
8
r(
I
•»
New Orleans
at other important
l* n je
15
Raleigh
8hreveport.... 14" je
Natohei
15*«
LonlsvlUe
Montgomery... 14%
Nashville
15
New ubleans
m
y»
co;
co
to
--a
;
Option Market. —The highest, lowest and
olosing quotations for leading options In the New Orleans
cotton market the past week have been as follows.
->
5Ss'
-q© WrHODO'OCoTsCViWtOOSI-itO'-' rHCO«3' M *> 00
^a* ©•
©to Is
-jicoo>-'cpi(ktoto<-'OoO'o>OD^j — otawt"; cck
©-• rvo©o-o.0 05"- 'toco>-0"- ti©«3xir-ie'i«'©o;to^]- tftoW/O
©eo! too<»-tooi
v
|
,
1
Sat'day.
Apr.
*s
Closing
r-
i-«
"©OtOOOtO
r*
CO
<>.
r-
M
toao
*°
J5
J
WW© Wr-to'tO «•-<©>:
-J O tO
— CBMIOeO©:
K00
lr»
I-HC CO -O
to
CTOtOvl ©CD*©
© tO r. tC-'tOCO©lr»tvCOaOXWW
•- tc
«J00Wr-CDt0v4*»w©r-t0X*v-©o-
1
fa
ifctOftO
o
H
n>
-o
^»
"ro
C*
w
©
00
10
w
W o © 1^ o at to © CO W ^1 #» «3
W © ©<J CO N> W CO W ©a> WOO CoV>*W cr © *. <1 © « 0"|OOie(08>)
••^tO^C6nOW-qcOaoC"W«^COCOr*C-:rHF-F*tOW<-JCr>if.OOi*k^lr*-J©CCtOOr
-, totoao<or'to©to»»-a:©oo©<i<3©c..
CO r- as
C
<x CO 00 i"
,&.
<t *•
O o;
*r"
!*«*,-»
*.
WtO*CTlr*MW»^ioi*'x"—"'o©Tr>a: Wen
tO «•»-
i-»
1-
to
;
«1
>-• C>: >-•
H"
tO OD
St
*^.
©
tOM
OtO
5°
to
CO
OS
IO
WWKI
t-
r>*
CMlf>
rS
©
***
M
V> CO
•"•
"8
M
©
w
CDUHO>]VUH<0 CO eocoao«k
v>
wo » co obbw »- •] r^ct en »oW**w^a> ""-J«o w to~<X CO to co ©>a"!c to -8
oo-J©to©©Wr»--t^o:.ooie6to©-i~ir"©toWfoC»cor»> w*
^VQC,
«-•
2*;
aD00coc©>-a-.
a3©Wr'Cn©WJClr'©CWM0DWrH©O
The above
,
C»©00lr>'«<l©l«-»)Oi©eiJW>-'©
show that the interior stocks have decreased during the week 13,084 bales, and are to-night 46,571
bales more than same period last year. The receipts at all the
towns have been 36.945 bales less than same week last year.
Overland Movement fob the Week and Since Sept. 1.—
We give below a statement showing the overland movement
for the w<-ek and since Sept. 1, as made np from telegraphic
reports Friday night.
The results for the week ending
April 8 and sinoe Rer>t. 1 In the two vears are as follows.
totals
T
April
1902-03
903-04.
8.
Week.
*ince
Sept 1.
Week.
8ince
Sept l
Shipped—
Via
8t. LooJb
Via Cairo
6,8*2
8,764
Via Rook Inland
Via Loulrrllle
Via Cincinnati
61
2,337
479,294 11,839
240,708
3,028
21
26
51
13,468
111.780
3,615
11
30,64 4
931
1.863
186,866
8.922
667,896
193.6H7
1,998
28,998
129,601
32,639
243,019
14.848 1,061,280 23,407 1,297,738
Deduct $K\ptnentt—
Overland to FT Y., Boston.
Ac.
3,063
Bouth.. ........
4,323
70,364
20,627
78.202
2,812
1,129
1,074
172,928
40,698
45.545
7.582
178,198
6,016
259,171
7,266
883,087
296
Inland,
Ac, from
Leaving
total net overland*...
18,3921,038,567
movement by rail to Canada.
The foregoing shows* that the week's net overland movement
Ibis year has been 7,266 bales, against 18,392 bales for the
week In 1903, and thatfor the season to date the aggregate net
overland exhibits a decrease from av«ar ago of 155,480 bales.
*
Inolndlng
1902-03
1908-04.
In Bight and Spinntre
Takinge.
Week.
Receipts at ports to Apr. 8
Wet overland to Apr. 8
Bontbern ooniomptlon to Apr.
8.
Since
Sept.
1.
TTeefc.
Since
Sept.
1.1
40,133|6,741.742 67,426 7.089,010
7,266 883,087 18,392 1.U38.667
4U.0U0 1,293,000 41,000 1,287,000
89,3998,917.829 126,818 9,414,577
248,265 •5,968 150,218
'13,084|
Came Into sight daring *week.
Total in sight Apr. 8...........
North'*- spinners' tak'gs to Apr.
76,316!
120.860
9..*>64'?95
...
,9,166,094
8..
18,320*1,963,185 28,485 1.846,583
Deorease daring week.
Movement into sight in previous years.
Baiet.
Week
Since Stni. I—
Balet
88,272 1901-02— Apr. 1"
1902-Apr. 11
_ 9.382,302
122,570 1900-01-Apr. 12....... 9,088.682
1901- Apr. 12
1900 -Apr. 13
65,791 1899-00— Apr. 13.u..« 8.266.159
1899-Apr. 14
106,516 1898-89— Apr. 14,>. w- 10,180,947
*
Range....
Range ....
Closing...
©
1538 3
-
15-278-28jl6-41»-42
14 80® 93 14 35* 60 14-15347 14 -40
14-923-94 14-36®-87
14458 -
1 -89
14 43 3-41
14-403-42 14-49362
n-7ir*08 1180 a -87 11-78 8-94 11-788 97
12120-13 11-730-74 11-863-88 11-803-82 11-938-94
11'06i> 14
Dec'beb11-R8
Closing...
11 91»-98 ll'MU-67 11 683-70
Tone—
|
M
August—
Ofl
Range....
19
Or.-JOOCOlxlv'KtlJT.Or^Oo; kOOS K>r»tO«vlCJO5C0©©C»CC
CO©w*.l-^OOE-U»©©tOCOWr-COto©. »J>J"'HOH*3»3^COO)yy (OOi
to
1512-t 83 14 -92 »-87 *5-19***8 15-278 48
15 76®
15-88 it 89 16-23 O 24
OCTOBEB—
1
1
-.C t-J t\J '-, •£•
'J
© — O"
16-30»-M l4f!S*»-38 14-438-90 14-73 "*-C9l4-78*t-99
15-403-41 l4-76J»-76 14-883-89 14-783-79 14-88996
.
Clootng...
tO
tO
r»
*.enw«icoaDtowce©to»- g
I(6g
5
i-n
*ir.*t0
s
AtOKJCS*'CO»JCC.«»IC05w**<kW©*»aO*»CCt»r»Wr-*»WOO©Wlr'atOOO
r-00
Tuesday, Wed'day, Thursd'y Friday,
Apr. 5
Apr. 6.
Apr. 7.
Apr. 8.
Range....
©-<
(-©»-•
Apr. 4
Closing...
.*"*
o«
"b»
.
July—
***•*:
.j
Hondo
MatRante ....
05
2.
Spots
Options...
3 00 ll-53o*
88 11-43
ft
-60
11-738-76 11678-72
11-618— 11-788
Qolet.
Kasy.
lrregul'r
8t»ady.
Steady.
Quiet.
Steady.
Br'ly st'y
-
Steady.
Steady.
Weather Reports by Telegraph.— Advioes to us by
telegraph this evening from the South denote that the
weather has on the whole continued favorable during the
week. Where rain has fallen the precipitation has been
moderate or light as a rule, the only complaints of too much
moisture coming from points in Mississippi and Arkansas.
la the main the temperature has been favorable. Our reports indicate that good progress is being made with planting operations in most districts.
Galveston, Texas.—
have had rain on three days of the
wees, the rainfall being one inch and twelve hundredths.
Average thermometer 65, highest 74, lowest 66.
We
Abilene, Texas.— The week's rainfall has been fourteen
hundredths of an Inch, on two days. The thermometer has
averaged 60, the higbest being 76 and the lowest 44.
Palestine, Texas,— The week's rainfall has been ninety-five
hundredths of an inch, on two days. The thermometer has
averaged 63, ranging from 54 to 70.
San Antonio, Texas,— Rain has fallen on two days of the
week, to an inappreciable extent.
The thermometer has
averaged 66, the highest being 86 and the lowest 46.
Corpus Christi, Texas.— We have had rpin on three days
of the past weeb, the rainfall reaching twenty-one hundredths of an inoh. Average thermometer 71, highest 76,
lowest 64.
New Orleans, Louisiana,—
have had rain on three days
the past week, the rainfall reaching one inch and twenty- five
hundredths. Average thermometer 66.
Shreveport, Louisiana,—The week's rainfall has been two
inches and forty-one hundredths, on four days. The thermometer has averaged 60, the highest being 77 and the low-
We
est 43.
Columbus, Mississippi,— The week's rainfall has been one
inch and ten hundredths, on four days. The thermometer has
averaged 63, ranging from 88 to 70.
Leland, Mississippi.—There has been rain during the
week, the rainfall being one inch and fifty-seven hundredths.
The thermometer has rarged from 86 to 79, averaging 54-7.
Vicksburg, Mississippi.— There has been rather too much
rain for planting. We have had rain on four days of the week.,
the precipitation reaching three inches and four hundredths.
The thermometer has averaged 59, the highest being 78 and
the lowest 41.
Little Rock, Arkansas,—Wet weather interferes with and
delays planting. Rain has fallen on three days of the week,
the rainfall being one inch and twenty hundredths. The
thermometer has averaged 64, ranging from 41 to 68.
Helena, Arkansas.— Farm work is progressing well. We
have had rain on two days during the weVk, the rainfall
reaching fifty-three hundredths of an inch, The thermometer has ranged from 48 to 71, averaging 54.
Memphis, Tennessee.—Farm work ig active. .We have had
rain on four days of the week, the precipitation being' one
inch and ten hundredths. Average thermometer 544, highest 67-8, lowest 87 8,
-.
~
—
APE.
9,
,
.
.
THE CHRONICLE.
1904.}
1403
—
ftlANOHESTEB Market. Our report received bv cable
Nashville, Tennessee.— Qtood progress is being made with
crop preparations. The week's rainfall has been three inches. to-night from Manchester states that the market continues
The thermometer has averaged 54, the highest being 76 and dull but steady for both yarns and shirtings. Manufacturers
give the prices for to-day
are generally complaining.
the lowest 80.
Montgomery, Alabama.— Rains have been beneficial. Plant* below and leave those for previous weeks of this and last
We have had rain on two days year for comparison.
irjg Js progressing finely.
during the week, the rainfall reaching fifty-three hundredths
1903
1904.
of an inch. The thermometer has ranged from 86 to 84, averaging 63.
8*4 lbs. Shirt- Oott'n
8H lbs. Shirt- Cott'n
32* Cop. ings, common Mid.. 32a Cop. ings, common Mid.
Mobile, Alabama.—-The weather has been very favorable
Twist.
Twist.
TJplds
to finest.
TJplds
to finest.
in the interior, with good rains latter part of week. Cotton
planting makes good progress and fair stands have been seH.
d.
•d.
d.
s.
d.
d.
d.
8. d.
A.
d.
d
8-32 7*1 «838
512
6 I.' 2
cured in some sections. We^have had rain on two days dur- Mar.410«B»ll 6 9 99 6
8-78 7*a ©8^8
51*98
530
ll|llJe«»im 6 9 «9 9
ing the week, the rainfall Being one inoh and twenty- one
6-40
5>tS8
lsio'eoiik 6 8 «9 7i« 8 24 7"i e »8»3
hundredth?. The thermometer has averaged 66, ranging
1«»ll 1
7-72
5 98 11* 534
" 25jl0
e 6 6 «9 6
from 44 to 79.
828 70s «8*«
4k«8 1 ft 36
Apr. llO'sell'B 6 8 «9 8
8-28 7n 16 »8k
" 8 10 78»U'g6 7k<>9 9
540
4k«»B 1
Madison, Florida.— It has rained on two days during the
week, the rainfall being one inch and fifty hundredths. The
Fall River Mill Dividends. Twenty- eight of the thirtythermometer has averaged 62, ranging from 42 to 82,
Augusta, Georgia.— Planting is progressing vigorously. two cotton-manufacturing corporations in Fall River have
Rain nas fallen during the week, to the extent of eleven declared dividends during the first quarter of the year, but
hundredths of an inch, on two days. The Thermometer has the total amount paid out is $48,975 less than for the corrarged from 84 to 82, averaging 60\
Savannah, Georgia.— We have had rain on three days of responding period of 1908. The aggregate of the amount
the week, the precipitation being three hundredths of an distributed has been $260,550, or an average of 1*81 per cent
Inch. Average thermometer 64, highest 86, lowest 43.
on the capital. In 1903 thirty-two mills made distribution,
Stateburg, South Carolina.— Cotton planting is now progand the average rate was T44 per cent. In 1903 the average
ressing. We have had no rain during the week, and moisture
The thermometer has rate was f41 per cent; ia .1901 it was 1*73 per cent, in 1900 it
is beginning to be needed on uplands.
ranging from 35 to 85.
was 1*81 per cent, in 1899 it was 0*88 per cent, in 1898 it was
averaged 62,
Greenwood, South Carolina.— We have had rain on one 0-26 per cent, in 1897 it was 1*01 per cent and in 1896 it
day during the week. The rainfall reached eighteen hun- reached 1*99 p*r f.-eot.
dredths of an' inch. The thermometer has ranged from 45 to
68, averaging 56.
Dividends 1904. Dividends 1903. Increan
First Quarter.
Charleston, South Carolina.— We have had a trace of rain
We
m
|
l
I
—
on three days of the week? The thermometer has averaged
63, the highest being 85 and the lowest 42.
The following statement we have also received by telegraph
•mowing the height of the rivers at the points named, at
8 o'olock April 7. 1904, and April 9, 1903.
Apr.
Apr. 9.
1, '04.
'03.
Feel.
142
-
20-1
37-8
new Orleans „_.. .„.. Above aero or gauge.
w sin r hJ* — — -- .....Above xero of gauge.
fee.t.
SOI
96
99
Ea«nvUle_„.„„ ,
.....Above aero of gange.
• arevepott—.
—
26-3
23 8
410
502
India Cotton Movement from all Pobts.—The receipts
of ootton at Bombay and t^e shipments from all India ports
for the -rook ending Apr. 7, and for the season from Sept, 1
to Apr. 7 for three years h»ve been as follows.
1901
and
Capital.
1603.
American Linen Co
Ark Wright Mills..
Barnaby Mauufact'K
$800.00(1
Barnard Manufact'g
Border City Man'f'g Co..
Bourne Mills
Chace Mills
Conanlcut Mills.
Receipts
at—
Week.
Bombay
1901-02
1903-03.
Since
Week.
Sept. 1.
80 000 1.452.000
Since
Sept
62,000 1.721 000
For the Week.
Since
Week.
1.
5!i000
Sept. 1.
1, fi'
Sinre September
0.000
Davol Mills
Flint Mills
Qranlte Mills
Ilargraves Mills
King Philip Mills.
Laurel Lake Mills
Mechanics' Mills
Merchants' Manucfac'g Co.
NarraKansett Mills
Osborn Mills
Parker Mill
Pocas8et Mannfact'g Co.
Richard Borden
M'rgCo
M
Seaconnet
Mills. ..........
Qrcat
Conti-
nent
Britain,
Total.
Great
Continent.
Britain.
12.000
25,000
Stevens Manufactory Co.
Tecnmseh
Total.
41,000
39,000
17,000
70,000
53,000
8,000
563.000
602,000
280,000
683,000
555.000
283.000
.
2,000
2,000
1901-02..
l'.OOO
i'.ooo
8,000
3,000
1,000
16.000
20,000
18,000
19,000
23,000
14,000
8,000
4,000
1,000
25.000
9,000
5,000
83.000
13,000
6,000
190102..
Calontta—
1903-04
1902 03..
Madras
190304..
1902-03..
1901-02..
All others—
1903-04..
1902 03..
1901-02..
18.000
7.000
2,000
1,000
19.000
7.000
2,000
84.000
61,000
5.000
13,000
1,000
49.00*1
Tstal all -
1903 04
1902-03.
13,000
25,000
49,000
21,000
20.000
190102.
62,000
46.000
20,000
88,000
73.000
6.000
688,000
692.000
347.000
Mills
Troy Cot. A W. Mfg. Co..
Onion Cotton M'f 'g Co.
Wampanoag Mills
Weetamoe Mills
-
J.,000,000
600,000
1.000,00(1
lk
112,000
6.760
lk
1*
2
lk
lk
1*
1H
l
IX
800,000
750,000
800.000
400,000
2
C50-.000
1
1
1
lk
16,000
15,000
7.300
8,600
6,000
6,000
S.'iOO
16,000
H.000
15,000
6.000
7.600
8,000
6.000
7,60(i
1
8,000
800,000
600.000
Ik
9.000
12,000
«00,000
ik>
aoo.ooo
l
0,000
eoo.ooo
7.500
ik
550,000 .No dividend.
1,000,000 .No dividend.
2
14.000
700.000
500,000
7,600
lk
9,000
300,000
S
1%,000
1,200,000
lk
l
7,600
750.000
5.600
650.000. i
iki
2
$12,00C
6,780
4,0"0
7,426
16,000
8.000
11.260
2,4^0
8.000
ik
*.000
8,700
20,000
12,000
16.000
6.000
7,600
8.000
6.000
7,600
16.000
9,000
12,000
lk
2
ik
!*
i
i
ik
i
s
ik
ik
lk
}*
4
13,500
7,600
6.600
10.000
14*000
7.500
12,000
lk
-14,000
—7.425
'iV.000
^3,7-0
4-1.200
-2,000
-5 COO
-4,000
-8,000.
—4,600
lfl.OOO
1
2
ik
1
-6.606
-10,000
—JJ.OOOj
7.500
6,600
l
$760,560 1-44
131.505.000 1-81
Total*.
capital of $400,000.
t On capital of $120,000.
$309.6251 —48,976
On
*
29.000
14.000
17,000
1902-0 i.
Co
Mills
Stafford Mills
180,000
400,000
400,000
580,000
Ik
.No dividend,
.No dividend
1.
Bombay—
1903 04.
fit.
Shove
Sxports
Jrotn—
1.000,000
1,000,000
750.000
Cornell Mills
Sagamore
1903-04.
460,000
400,000
499,000
Co...
Co...
orP. 0. Amount. P. C. Amount. Decreat*
Government Cotton Report. — Mr. James
of the Climate and
Berry, Chief
Crop Division of the Weather Bureau of
the Agricultural Department, has made public the following
summary of the telegraphic report on the cotton crops in the
Southern States for the month Of March:
In theoentral and western portions of the ootton belt cotton plan ting was progressing rapidly at the close of the month and some planting u. A been done In all the eastern districts. In 8onthern Texas
abont halt the orop has been planted and the early-planted Is oomlng
np
nioely.
New England
—
Cotton Mill Situation. Curtailmen at
50O«O Fall River.— The state of the market for print cloths has
89.000
74.000
impelled twenty of the corporations in Fall River, con774,000 trolling sixty-five mills, to curtail production by shutting
«65,000 down two days a week— from Thursday night to Monday
353.0O0
morning. The movement went into effect this week, and
Alexandria Receipts and Shipments of Cotton.— there is*
no definite understanding as to the period of its conThrough arrangements we made with Messrs. Choremi,
tinuance. About thirteen thousand operatives are affected,
Benachi & Co., of Alexandria, we now receive a weekly
oable of the movements of cotton at Alexandria, Egypt, nearly a million and a-half spindles will be temporarily idle,
The following are the receipts and shipments for the and the output will be reduced nearly 100,000 pieoes. At
past week and for the corresponding week of the previous
first efforts were made to bring about a reduction of wages,
two years.
but so much opposition was encountered that curtailment
Alexandria. Egypt
1901-02.
1903-04.
1902-03.
was decided upon instead. Only a few mills are well under
April 6
Receipts (oantars)*—
This week.
Since Sept.
1
This
week.
Mxports (bales) —
To
To
To
To
Liverpool
Manchester
Continent
America
,
Total exports
*
Since
Sept. 1.
24,000
5,723.137
This
week.
Since
Sept.
1.
35,000
6.365.779
TMs
Since
week.
Sept. 1.
3,750 193,366
4,484 185,635 5,912 171,686
111,559
100,824
130,428
7,750 26"i,7l3 12^76*1 256,016 22,928 821,272
900 43,774 2,196 74.835 3,142 88,057
12.400 614,412 19,441 646,644 31,982 681,838
A can tar Is 98 pounds.
•This statement shows that the receipts for the week
ending April 6 were 27,000 can tare and the foreign ship-
ments
and stocks of goods have been accumulating
rapidly, being said at the present time to exceed half a
million pieces.
contract,
27,000
6.308,798
12,400 bales.
At other points in New England curtailment is also':in
progress. Mills at Louedale, Berkeley and Ashton, Rhode
Island, are working five days per week. The Globe Mills at
Wooneocket shut down Thursday night and some
New
Bed-
ford, Mass., mills are running short time.
Jute Butts, Bagging, &c —The market' for jute bagging
has continued very dull the past week. Prices are nominally
unchanged at 6^0. for 1% lbs. and 6>£o. for 2 lbs., standard
grades.
Jate butts likewise dull at l>£@l%c. for paper
quality and 2@2J^c. for bagging quality.
—
THE CHRONICLE.
1404
[Vol. lxxviil.
8ea Island Cotton Movement. —We have received this
(Friday) evening by telegraph from the various ports the
The particulars of the foregoing shipments for the week
arranged in our usual form, are as follows.
details of the
Great French Ger- r-Oth.Vrope—. Mexico,
Ac. Japan. Total.
ports, many. North. South.
13,207
600 1.15«J
6,912
New York. 5,537
23,932
4,037
1,783
N. Orleams 18,112
6.855
1,541
Galveston.
5,314
Sea Island cotton movement for the week
The receipts for the week ending to-night (April 8) and
since Sept. 1, 1903, the stocks to-night and the same items
for the corresponding periods of 1902-03, are as follows:
1902-03.
1903-04.
Receipts to April 8.
128
78
12
47,667
9,842
17,476
970 71,155 11,971 10,848
26
137
11,905
94
25
100 12.399
218
74,484
Exports
Qreat Fr'nce
Great Fr'nce
Total.
Total. Brit'n.
Ac.
Brit'n.
Ac.
from—
New
York..
Boston
""64
"ei
43 16,459
4 3,215
13,089
"762
8ii"2«
8*,
8 88
837
1
..
1
64 22,549
7,047 29,596
47 32,763
1.207137,153
64
Total 1902 3
1,117
Phll'ctelp'a
90
8,148 46,301
2,320 14,714
Qaotations Apr. 8 at Savannah.— For Georgias, extra
2454c; choice, 25c; fancy, 28@29c
Charleston for Carolinas.— Fine, 27c fully fine, 28c
fine,
;
The Exports of Cotton from New York this week show
an increase compared with last week, the total reaching
Below we give
13,207 bales, against 1,864 bales last week.
200
total exports and direction since Sept. 1, 1903, and in the last
total for the same period of the previous year.
EXPOBTS OF COTTON (BALES) FBOM NEW TOBK SINCE SEPT. 1, 1903.
Week EndingExported to—
March March April April
18.
25.
H.
Total
since
Sept. 1.
Same
period
previous
year.
1,865
Tot. to Gt. Bbit'n 1,365
1,598
1,598
184
Havre
.
150
100
1°°
150
100
100
Seattle
Taooma
Portl'd.Or
39,667 bales
have been
1
55,220
850
99
5.503
1,299
16,016
The exports to Japan since Sept.
from the Pacific Coast.
New York
Cotton freights at
the past week have been
as follows.
Liverpool...
Tuts.
10*12
10*12
12
20
20
20
80
15
28
85
20
e.
Manchester
12
20
e.
Havre
Bremen
e.
Hamburg
..e.
w
c
C
~....0.
Antwerp.........;.
Reval, indirect.. e.
Reval, via Canal. c.
&
Baroel'na.ind'r't.e.
12
20
20
20
80
15
28
85
12
20
20
20
20
16
28
85
22J*
22^
15
25
50
12
20
20
20
20
15
28
85
20
15
25
50
15
28
35
20
15
25
50
e.
Fri.
10*12 10*12 10*12
80
20
20
15
25
..c.
Japan (via Suez). c.
50
Quotations are cents per 100 lbs.
«r«n»a„..
Trieste, asked.
Wednet. Thurs.
Mon.
Batur.
25
50
16
—
Liverpool. By cable from Liverpool we have the following
statement of the week's sales, stocks, &c, at that port.
Mch. 25.
Mch. 18
week
Sales of the
bales.
Of which exporters took. ..
Of whloh speculators took.
Bales American
Actual export
Forwarded
Total stook— Estimated
Of whloh American— Est'd.
Total import of the week.....
Of whloh Amerioan....
89,SOt
2,000
33,000
34,6<H
5,000
60,8*1
671.00c
486.801
87,084
84.004
168,001
10T,r-
29,000
11.000
57,000
578,000
487,000
78.000
51,000
147,000
-
April
April
I.
16,008
208
1,000
8.
27,000
200
i'.obo
13,008
4,008
88.800
567,000
479.000
84,000
81,000
188,0f91,000
24,000
7,000
63,000
865,000
461,000
58,000
24,000
163,000
108,000
176,139
47,853
Amount
188,838
228,992
23,178
13,906
The tone of the Liverpool market for spots and futures
each day of the week ending April 8 and the daily closing
172
23,662
14,078
80,574
2,289
24,87S
83,053
6,662
18,118
Market, )
12:30 p.m.J
6,512
77,736
106,828
Hid. Upl'ds.
1,158
52,634
62,604
7,144
6,637
5,587
1
184
Hamburg
1,860
177,409
11,429
484
1,860
160
Other French ports..
796
165
.
160
191
1
5,912
3
Other ports
Tot. to No.Eobope
951
191
1,839
1,804
3
Allother
&c
Ob and Total
1,839
1,804
1,158
52,634
69,748
afloat
Of which America*
prices of spot cotton,
Sat'day.
Spot.
Spec.
4,839
3.753
1,864 13,207
342.870
414,646
Monday. Tuesday. Wed'day. Thursd'y Friday.
•
a
8
8
t
8
8
•
8
•
a
a
B
ft
©
B
5
Futures.
Nbw York— To
Liverpool, per steamer Armenian, 5,481 upland, 12 Sea Island and 44 Peruvian
To Bremen, per steamers Barbarossa, 2,438; Prlnzess
Alice. 3,474
To Antwerp, per steamers British Prlnoess, 400; Finland,
..
5,537
5,912
opened.
$
i
8
Newport News—To Hamburg— April 4— Str.
Barcelona, 26..
Boston -To Liverpool— Maroh 30 -Steamer Georgian, 332
Maroh 31— Steamer Oretlo, 50
April 4— Steamer SyiApril 5— Steamer Bohemian, 1,119
vanla, 95
Manchester— April 4— Steamer Bostonlan, 75
To
To Yarmouth— April 5-8teamer Boston, 90
Baltimore—To Liverpool— Maroh 26— Str. Rowanmore, 1,119
To Hamburg-April 2— Steamer Bosnia, 900
Philadelphia— To Manchester— March 18—Steamer Manchester Exchange, 200
Seattle -To Japan— April I— Steamer Shawmut, 150
taooma— To Japan— April 1— Steamer Shawmut, 100
Portland, Obe.— To Japan— Steamer Indravelll, 100
1,783
2,243
1,580
214
Quiet.
Quiet.
Unlet.
850
8 20
8-28
8 28
4,000
6,000
6,000
6,000
200
200
800
300
s
I
•
steady at Unlet at J *eady at Qnlet at
10317 pts. liftie pts. Its 10 pts. 8*12 pt*.
advanoe. deoilne. «dvanoe. deoilne.
•
Market,
4
P.
M.
\
1
8
)
1
steady at flt.eady at Steady at
6 pti.dc to 20*25 pts. 10*23 ptff.
t pts. a Jv. deoilne.
advance.
pts.
deoilne.
The
prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.
PT* The prices are given in pence and 100 th. Thus: 883 means
8 23-100d.
Sat.
Apr. 2
Won.
Toes.
Apr 4
Apr. 5
Wed. Tknn,
Apr. 6
Apr.
7.
WrU
Apr.
8.
12* 4 12»«| 4 12* 4 12* 1
P.M. P.M. P.M. P.M. P.M. P.M, P.M. P.M.
d.
April
April-May ..
May-June...
June-July
.
W
o
.
EC
o
tr
q.
8 23 8
8 20 8
8 17 8
8 14 8
8 10 7
8.268
2,056
1,541
July- Aug
Sept.-Oot
7 03
763
808
Oot.-Nov
6 70
6 60
5,790
26
Qnlet at
0*10
below.
600
200
To Genoa, per steamer Prlnzass Irene, 744
744
To Naples, per steamer Prlnzess Irene. 50
50
864
To Ventoe, per steamer Pawnee, 364
New Obleans -To Liverpool— April 7— Steamer Senator, 8,000
April 8 -Steamer European, 6,000
14,000
To Belfast— April 4 -Steamer Ramore Head, 4,112
4,112
To Hamburg— April 6 -Steamers Aollla, 1,144; Darango,
639
To Barcelona— April 8-Steamer Porto Rico, 2,243
To Venice— April 8 Steamer Laorema, 1,580
To Trieste-April 8— Steamer Laoroma, 214
Galveston— To Llrerpool —April 2 Str. Navigator, 8,258
To Be fast -April 4 -Steamer Glenarm Head, 2,056
To Hambnrg-Aprll 4 steamer Planec Venus, 1.541
Mobile— To Hamburg -April 7— Steamer Llvland, 763
Pensaoola— To Genoa— April 6— Steamer Stefanla, 808
Savannah—To Bremen, &o.— April 8 Str. Newlands, 5,790...
Quiet.
i
<<
1
•
Total bales.
88. r
have been as follows.
I
& exp.
Market
Shipping: News.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 55,220 bales. The shipments in detail, as made up
from mail and telegraphio returns, are as follows:
Total
'
-
"Too
Liverpool .. .........
Other British porta..
Total Spain,
26
1.770
2 019
20 °
900
our usual table, ahowing the exports of cotton from New York,
and the direction, for each of the last four weeks; also the
columu the
5,790
.
•
99
1,671
1,119
Ghent
837
Phlladelp'a.
Total
Since
Week. Sept.l,
6,285 19,870
18,685
Savannah...
Oiiarl't'n.&o
Florida, <feo.
Boston....
Baltimore.
Since Sept. 1,1903. yorth'n Mills.
Week Ending Apr. 8
•—
26
Total.... 81,953
the
699
5,091
1.070| 9S,459ll2,133 10,968
week ending this evening reach a total
of 64 bales, of which 64 bales were to Great Britain,
Bremen, and the amount forto France and to
warded to Northern mills has been 47 bales. Below are the
exports for the week and since 8ept. 1 in 1903-4 and 1902-8.
The exports for
808
8avan»ah
(Tp'tNews
1903.
763
308
763
Mobile
Pensaoola
Stock.
This
Since
Since
This
week. Sept. 1. week. Sept. 1. 1904.
Brit'n.
Aug. -Sept....
Nov.-Dee....
—
Dec-Jan....
Jan. -Feb
Feb.-Moh. ..
&
so
7 85
</.
d.
d.
11 7 93 7 86
08 7 90 7 83
787
7 80
03 7 85
99 7 81
7 73 7 65
6 91 7 76
6 56 6 40
6 46 6 30
7 78
0f>
7 74
7
7
6
6
d.
d.
(/.
d.
8 01 8 09 8 01 8
7 98 8 09 7 97 7
7 95 8 08 7 9417
7 93 8 00 7 8117
7 89 7 96 7 87|7
7 62 7 68 7 587
48
60 6 84 6
3S 6 49 6
26 6 40 6
6 37 6
6 36 6
03
99
96
93
88
59
88 6 81 6 80
52 45 6 41
42 6 366 34
40 6 83 6 31
3.J 6 316 30
(5
1,596
76
99
BREADSTUFFS.
1,119
900
200
160
100
100
55,200
Friday, April
A
8, 1904.
dragging market has been reported for wheat fljur.
to a decline in prices for the grain, mills have lowered their limits for prioes for flour about 10 points. The
reduction in quotations has failed to stimulate buyers to any
Owing
2
.
Apr.
9,
THE CHRONICLE.
1904.]
extent, they showing little disposition to purchase supplies in
advance of immediate wants. City mills have been quiet
and unchanged. The demand for rye flour has been quiet,
but prices have held fairly steady. Corn meal has been quiet
and
easier.
8peoulation in wheat for future delivery has been on a
moderate scale only and the tendency of prices has been towards a lower basis. Foreign statistical developments as reported from Europe early in the week had a bearish irfluence.
Owing to full exports for the previous week, the amount of
wheat on passage for Europe showed a moderate increase.
The most important factor against the bull interest
was the improvement in the weather conditions over
the winter-wheat belt and a consequent more favorable outlook for the growing crop. Additional warm
One authority in reviewing
rains have been reported.
the crop situation says that conditions for the week have
been favorable and that moderate improvement is indicated.
Spring seeding is delayed. Advices from the interior have
reported quiet cash markets, the demand from millers being
reported as light, and they in turn have reported a elow
market for flour. Latest advices from Europe report more
favorable weather and better prospects for the growing
crops. Locally the epot market has been quiet and easier.
To day there was a firmer market based on the cold backward weather reported from the Northwest. The spot market was quiet but steady.
YORK.
DAILY CLOSING PBI0E8OF WHIAT FUTTJHBS Df
Wed. Thurt.
Fri.
Mon.
Tuei.
Smt
105i« 104
105
105
107
No.2 red winter, f.o.b... 107
97J<
96*%
96*4
98*4
95^
96
May delivery In elev
92^8
92
91*8
92^
93%
91'a
July delivery in elev
NEW
85 1*
DAILY CLOSING PRI01B OF
Sept. delivery in elev....
8338
84
84*4
84^
WHEAT FUTURES IN CHICAGO.
Bat.
May
Mon.
Tuts.
96H
new. 87%
94%
8f%
80%
Holiday.
delivery In elev
July dellv. in
elsrv,
Sept. dellv. In elev
81 78
Week.
94%
86 7
s
81
Thurt.
945a
87
80%
85**
Fri.
95H
87%
81%
Indian corn futures have been moderately aotive, but
prices have declined rather sharply. Weather oonditions in
the interior have been reported favorable for the handling of
the crop. Country offerings were reported as having increased materially, and a faotor that had considerable influence upon the market was the improvement in the quality of
the corn offered, a much larger percentage of the supplies that
cane to market being cf contract grade. During the latter
part of the week it was claimed that there were indications
of a desire on the part of tome speculative holders of corn to
market their holdings, and this, too, operated against the
market. Locally the spot market has been quiet and easier.
To-day the market was steady. The spot market was steady
at
nnohanged
prices.
DAILY CLOSING PRICES OF NO 2 mixed CORN
Tuet.
Mon,
Bat.
60i*
61 H
614
Cash corn f. •. b
May
delivery In elev
60*4
69%
m NEW YORK.
Wed.
59
58i8
57i«
59i3
Thurt.
58
SB's
Oats for future delivery at the Western market have been
moderately aotive at declining prices. Weather conditions
in the interior have been reported more favorable for progress in planting the new crop, and it is quite generally
understood that a full acreage will be planted. The crop
movement has been fair. Locally the spot market has been
To-day the market was firmer on the less
quiet and easier.
favorable weather reports.
DAILY CLOSING PRICKS OF OATS IN
YORK.
Fri.
Thurs.
Tuet.
Wed.
Bat.
Mon.
46
46
No. 2 mixed In elev
47
47
47
46
43
48
No. 2 white In elev
484
48
484
484
DAILY CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.
Thurt.
FriMon. Tuet.
Wed.
Sat.
NEW
41 's
39"8
39%
39)»8
385a
oountries for the period since July 1, 1903, comparison being
made with the corresponding period of 1903-03.
Mxportt
Flour,
Wheat,
Oorn,
Oatt,
.Rye.
from—
bblt.
bush.
buth.
buth.
buth1,078
394
Barley,
buth.
5.200 7,290,620
471
San Fran. 681,254 1,541.667
Puget S'd. 1,600,000 1,443,800
Portland.. 786,700 2,693,000
85,894
370,179
5,878,467
22,525,017
36,365
29,704
375,379 8,736,280
1,422
923.090 7,390.240 214.865
451,660
994,000
844
—
Government Gbain Report. Mr. James Berry, Chief of
the Climate and Crop Division of the Weather Bureau of the
Agricultural Department, has made public the telegraphic
reports on the grain crops in the various States for the
month of Marob, summarizing them as follows:
Weather.— From the Upper Mississippi Valley to the Middle Atlantlo
ooast the season Is generally reported baokward, although the average temperature for the month In these districts was generally In
exoess of the normal. In the Southern States the month has been
mild and favorable for farming operations. The northern portion of
the Central Gulf States, however, the oentral valleys, and the greater
part of the Lake region, suffered from exoesslve rains, and Western
Texas and the southern u late »u region from drought. From Northern
Wlsoonsln westward to the Rooky Mountains the ground Is atlll
frozen deep and no farm work has been done. On the Paolflo ooast
the month has been oold and wet, wholly preventing farm work In
Washington and Oregon. The highest water known In many years,
flooding thousands of acres of valuable grain lands, ooourred in Northern California during the first and second deoades.
Winter- Whiat.- Over the western portion of the prinoipal winterwheat area the reports indicate an improvement in the condition of
winter- wheat, and In some of the more easterly sections a slight Improvement is also lndloated. As at the olose of tne previous mouth,
the least favorable reports are reoelved from the central and eastern
districts. In Indiana the crop has been badly washed on high lands
and much Injured by floods on low lands, but where not thus damaged, It Is healthy and growing. In the western portions of the wheat
area of Nebraska and Kansas the orop has suffered from drought.
Oats.- Good progress has been made with oat seeding in the Southern States with the exoeption of Western Texas, where it has been
too dry, and the general outlook for this orop 1b promising. Seeding
Is in progress as tar north as Southern Missouri and Kansas, but no
feeding has been done farther north.
Corn.- In the Gulf States much oorn has been planted and good
stands are reported. Some planting has been done in the southern
portions of Kansas and Missouri. Preparations for oorn planting In
the Oentral Mississippi and Ohio valleys and Middle Atlantlo States
have progressed slowly.
The movement of breadstuff s to market as indicated in the
statements below is prepared by ns from figures collected
by the New York Produce Exchange. The receipts at
Western lake and river ports for the week ending April 2
and since Aug. 1, for each of the last three years have been:
Receipts
at—
Tiowr.
Corn.
VTheat.
Bar lev.
Oatt.
liy*.
B6U.190U>» BusK.&Olbs Buth.SOlbs Bush.32lb. Buih.iS lbs Bt».50
262.876
18.300
.
788.836
34,200
1,654.112
1,382.700
96,110
96.000
Mil wamkee
168,800
205,040
180,318
21,300
Minneapolis.
Fri,
58
57
55 7a
55»8
58*4
57
July delivery In elev
57%
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN CHICAGO.
Fri.
Wed. Thurt.
Bat.
Mon. Tuee.
53i8
5538
53%
May delivery In elev
67
56
Holi62 f%
514
514
July delivery In elev
52%
53%
day.
50
504
51%
Sept. delivery In elev
52 °s
51 %
May delivery In elev
1405
04,967
19,300
237.19
32.919
69,490
62,000
66,392
73,60(
1,730
5,164
10.720
2,200
121.33E
1,260
186.466
43,000
8,100
16»,60<
51,300
11,800
791,498
696.516
340,206
117,f31
287.586
00,588
144.900
34,374
6,600
...
25.932
18.444
20.524
30,250
119.595
100,808
237,266
12 300
Clereland
St. Louis
8.800
308,009
140,400
100300
27,600
366,970
402,518
2,363.603
1,783.400
2,615,802
2,700.666
2.017,469
3,310,34.
442,913
2,618.747
1,916.102
1,819,244
Kansas City.
Tot. wk. 1904
Same wk. '03.
Sams wk. '03.
Since Aug. 1.
1908-1904
1902-1908.....
1901-1902
J&».
381.888
209.950
70,736*
....
~~
14,600,519 189.780,272 194,561,990 128,360,072
14,460,211 811.166,587 111,966,868 141,646,178
14.986.881 194,969,157 96,263.648 101,802,43
57,164.340 0,597,497
47,786.168 8,566,708
37,802,968 4,540,333
The receipts of flour and grain at the seaboard ports
week ended April 2, 1904, follow:
for
the
fifur,
(•4««<»t«SI-
N«wTork..„.*,..»^.
Boston
Montreal
..._
PUiaselMia.........
Baitmer*
„,.
Uakaoaa
«4« Orleaat*
IwpOTt
Norfolk
Mswt.......
Whtmi,
*fcj,
•«*k.
100,483
68,133
13.680
04.946
50,61*
1.949
27.417
66.709
2,280
203,908
9.988
11.979
20,240
0.767
36.350
10,000
otrn,
378.400
981.496
1,600
188,301
411,778
26.774
123,000
132,966
Oatt,
»UfM.
Bariti,
• w*».
671,600
181,690
24,793
140,139
44,484
86,814
19,000
66,200
2,718
6,878
"
Btt
huth
17,126
800
2.708
4,886
Holi88-%
'47.000
37%
38
38
20.800
Mlveston
day.
S 0.91
76,354
9,329
17,525
324 Pirtlaao. Its
31%
7,629
Sept. delivery in elev
32
324
384
-a. John, N. B
9*1
40,18b
Following are the closing quotations:
Total w«*k...^.. 460,607
(-5.0! 9
896,122 1,667,193 1,007,199
92,810
FLOUR.
Week 1903..
101.289
93,276
.„. 443,513 1,411.489 2,443,943 1,898,114
Fine........
Nominal.
$5 15 «5 40
Patent, winter
* Reoslptt do not Include grain passing through New Orleans for foreign
Superfine
Nominal.
City mills, patent. 5 25 a 5 90
ports on through bills of lading.
Extra, No. 2...... . Nominal.
Rye flour, supernne 4 20 ®4 70
Total receipts at ports from Jan. 1 to April 2 compare as
Buokwheat flour.. Nominal.
Extra, No. 1
$3 9)0 ®4 00
ollows for four years:
Corn meal—
Clears
4 00 ®4 70
3 10 ®
Straights
4 80 ®5 40
Western, eto
1901.
Ottttpt tl—
1902.
1904.
1903.
3 10 ©3 15
flourBrandywine
5,6e4,627
Patent, spring
5 10 ®6 00
5.616,255
5,348,085
bblf. 5,301,990
GRAIN.
iVhsat
87,784967
19,119,304
bmi. 12,916,686
20.648,437
••
lorn
14,048.088
e.
J\l* MA. ............... ..
0.100,762
o.
28,947,0t8
41,997,896
Wheat, per bush—
Corn, per busho.
o.
10,881,f39
lv.0«S,5J6
'(.LB. ii„(„*,i,«,.«.i
lt>.302,206
13,676.629
494968
mixed..
Western
f.o.b.1054
N. DuL.No. 1
l,88n.243
l,36i!.0U4
larloy
1,60S.89»!
1,284.871
•••••••••••a
f. o. b.58
No.2 mixed
N'thern Man., No.2. f.o.b.100
767.944
426,852
770.198
319,675
*7S
f. o. b.57
No. 2 yellow
Red winter, No. 2.. l.o.b.107
f. O. b.56
No. 2 white
Hard winter, No. 2. f.o.b. 984
"
104,394.746
Total grain
78.698,552
37,891,841
48,770,502
Oats— Mixed, p. bush. 454^474 Bye, per bushThe exports from the several seaboard porta for the week
73 «82
Western
White
464^53
Nom'l.
eading April 2, 1904, are shown in the annexed statements:
State and Jersey.
No. 2 mixed...
46 947
55 965
B arley— West
No. 2 white
474949
Barley,
Ftai,
But,
Flour.
OaU.
tVhtat,
Osrn,
49 952
*USr..
Mmftrts from— but*.
Feeding
bush.
bbls.
kUSK.
buth.
««W York
68,226
7,928
90,109
81.688
147.378
SOSton
370
24,417
158.0B9
12,3t3
Exports of Grain and Flour from Paeifle Ports.— The *ortlaad, M«. 80,942 7<\854
17,625
7,529
9,329
17.400
klladelpkla
exports of grain and flour from Pacific ports for the week
21.488
8,262
3<9,BS7
ending April 8, as received by telegraph have been as laltlmora
900
10,798
fSW Orleans,. 49.0C0 849,437
9.280
follows: From San Francisco, April 4, to the United King- Xorfolk
50,709
XWO'ttNtvi
132,955
dom, 160,000 bushels wheat; April 8, to United Kingdom, ialreston
77,141
921
at.John.N.B. 40,188
150,000 bushels wheat.
Combining these figures with those for previous weeks, we
17.685
9,403
01,925
Total W9ek.r~214.085 1.178,149 918,431
50,406
22,277
89,395
have the following, which covers the exports to foreign Same time '09.. 1,686,549 2,568,993 444,347 294.6P3
July delivery In elev
,
9
:
THE CHRONICLE.
1400
Toe destination
Jul-
— Whtat.- July
Sinn
-flour.-
Mxfor U for
Wtth 3inc$ July
w**k «n4 unit Apr. 2. 1. 1008.
July 1 to—
ii
6fc!i
Dnitsd Kingdom 182.878 8.2 8,076
Oonticsnt
10.31(5
1.755,8 13
84.H38
71H,*68
S. * 0. Amarloa.
t
1
Win
indiet
20,721
b.^ss
r.H.Am.Colo'l
Otksr «oantrl»i
8,8fc8
Total
Apr. 8.
butk.
1R2.7B2
61,323
-
Wtth
buth.
36,148,680
10,020
64.640,240
06,464.670
1.173.119
2,6b8.0t'8
61.230.E81
63,210,018
The visible supply of grain, comprising the stocks i°
granary at the principal points of accumulation at lake an d
••aboard ports, April 2, 1904, was as follows:
wn*n%,
lfttMriat—
386.000
104.000
7,uv0
10,000
Philadelphia
....
261,000
Baltimore
466.000
Haw Orlaaci
»»,
Sa'Taaton
781.000
^..
46.000
Mootraal
*••••*•
36.000
Toronto
1,288,000
aflalo
Do afloat
181.000
Toledo
i
Do afloat
114.10C
De.rolt
Do afloat
Oataago
8,811.000
Do afloat
668,000
Milwaukee
oo
06,000
» float
3.116.0JU
Fort William
Port Arthur
Dnlnth
400,000
811,00*6
48,000
304,e0(
171,000
3.000
74.000
1,000
288.000
1.000
88,cae
410,000
283,000
1,088.000
313.006
281,000
180,000
"
08,000
166,000
4,000
24,000
818.000
*
28.00*6
785.000
'47*008
'84,"000
"V.OOO
"il.OOO
4.107,000
8,l6i.iO'
100,000
416,000
877.00*6
887.000
"V.OOO
'tfifjiiA
848,600
60,000
making
8,170,000
174.000
11.826.000
8.868,000
46,000
608,000
1,784.000
110.000
61,000
5,100
1,102,000
35,000
841,000
61,000
766.900
35,000
48,000
81,000
54«,Oo.
afloat
Do
afloat.......
KaniaeOlty
670,000
1,000
140,000
laAlanapolli
168,000
09,000
On MleileelrnlBlTW.
OaLaket
168,000
138,000
85,000
17,000
69,000
Apr. 2, 1904. 81,727,000
Mar. 26 1004. 32,511,000
Apr. 4. 1908. 41,95\0O0
Apr. 6, 1002. 48,414.000
Apr. 6. 1901. .68,800,000
9,670,000
10,050,000
9,841.000
- 8,608 000
21.090,000
10.404,000
10,866.000
7.380,000
3,300.000
11.399,000
049,000
080,000
1.118,000
2.018.000
1.112.000
3.873,000
3.600.000
1.703.0CO
oaaanaiandrlrar.
Total
Total
Total
Total
Total
•
is generally conceded that the market
wear woolens and worsteds has dropped into an
unusually lifeless condition. Only a small business has been
done this week and against that cancellations of early orders
must be placed as an offset. Buyers do not as yet appear to
have made up their minds as to what direction their supplementary demands for piece goods will take and their current
needs do not run above odd pieces. Backwardness on the
part of agents in making deliveries on initial orders or in
"1.OOO
•24,000
18,000
Paoria
Woolen Goods,— It
for men's
244,66c
1.663,000
4,2*0.000
Miaaeapolu
St.LonU
_,
llmru
••
+~.
Do
Mm.
Oats,
attta.
aw York......
Do afloat...
Boiton
Corn,
[Vol. lxxviil
steady, particularly in the better grades. Stock conditions
in wide sheetings sheets and pillow cases also are in such
shape as to enabie sellers to maintain a firm front in face of
limited buying. Canton flannels and ootton blankets are
dull but steady. Bnstnees in a'l lines of coarse, oolored cottons continues mainly on a band-to-mouth basis, and this
week some irregularity in prices is reported, buyers securing occasional slight concessions on spot goods.
Cotton
flannels and blankets are quiet and unchanged. The market
for printed calicoes is quiet for staples and dull for fancies.
The former are in quite limited supply, however, and prices
are maintained; but in the latter lower prioes have been
made in some quarters to clean up stocks. There is no
change in the gingham situation, a quiet business being
done at steady prices. Print cloths are inactive in regulars
at 4o. nominal, and a quiet demand tor odd goods has been
met at slightly lower prices for some counts.
28,964,410
24,716,116
100.870
810.5-4
8.771
136,434
3.110
1,416.066
600
403.736
214,086
1,686,640
Jan
1003
bush
1,
442,078
717.01H
1,672
18,088/64
f i 7,5.
Bin**
Apr. 8.
OUth
1008.
1,
1,047,476
187,088
218,421 12.40fl.267
444.347 1*.7 48,367
Total 100S-08....
Wtek
-
»
week and sine6 Buyers are interested only to the extent of filling current
requirements, and these are light. At the same time stocks in
first hands are in good enongh condition to keep prices
Corn.
of these exports for the
below:
1903, is as
1,
S
.
l,4:>5.oo
850.000
THE DRY GOODS TRADE.
York, Friday, P. M„ April 8, 1904.
f There have been two developments this week, both of which
New
deliveries not equal to selling samples tends to confirm buyers in their present attitude. Ic is ex pected that
just as soon as wholesale clothiers gain more confidence
there will be a material expansion of business but meanwhile
many manufacturers are in a most unsatisfactory position.
As a result, further reports of mills shutting down or otherwise curtailing come to hand. No change in prices can be
quoted with so little doing but the tone of the market, apart
from some of the leading lines, is unssttled and in favor of
buyers. Conditions in overcoatings and cloaaings are somewhat better than in trouserings and suitings, but they are
selling in moderate quantities only and not always at full
prices.
Woolen and worsted dress goods have been quiet
throughout, with prices irregular in fanoies. Flannels and
blankets are quiet and unchanged.
Foreign Dry Goods.— moderate demand is reported in
foreign dress goods, chiefly for fine fancies. Goods in request
are firm, but otherwise the market is irregular. Silks are
steady, with an improving demand. Ribbons in fair request.
Linens are very firm with an average demand. Burlaps rule
steady, but buying is smaller than of late.
A
should in the natural order of things tend to strengthen the
cotton goods market. The first is the announcement that a
number of Fall River Mills (covering about fifty per cent of
the spindles in that city) have agreed to restrict production
Importations and Warehouse Withdrawals of Dry Goods
the other is the resumption of buying of heavy brown cotThe Importations and warehouse withdrawals of dry goods
tons on China account. As a matter of fact neither has
at this port for the week ending April 7, 1904, and since
so far had any effect upon the attitude of either buyers
or sellers. The former have not increased their demands— January 1, 1904, and for the corresponding periods of last
they have bought rather less this week than of late; while the year are as follows:
latter, at the best, have been no more difficult to deal with
B
w
s
IS
s
than before. Reports from other oenters than Fall River show H S3 PS
H in
g
production is spreading, but neverthe- a* 'so
that curtailment of
9 SE iRritg
9
M
SI
less buyers are so accommodating themselves to the situation
O
3
Si:!3 I 5
P .... et
that, with occasional exceptions, there are still stocks enough
c
05
p
O
B
3
1^
B
g:
»
oR
°:
in first lands to meet the day-to-day new business coming
Si liiilS
e\
£•
9
S
1
S
•
forward.
What this week's demand from China really 1
sf ..... A
Z
..... X
.... e
2^
means has yet to be demonstrated. There has been too little a
v
B% ...
..... v
.....
A
done yet to invest it with much importance beyond showing
r+.
.....
a:
a
that in a few instances buyers and sellers, by mutual conM
cessions, have got together to the extent of between 2,000 and 3 o» oo <i
1
£ © •O ©
4 ao tots — to
8,000 bales—with sellers conceding more than buyers.
© *» MOOM^M Xa^a
09
3 CO "at'eo 00 00 00 coco W 05 wen— ben
*>-*<
^jioeooen
s •e?
©M*44iiao
OD
SS 3
very slow market has been reported in the woolen goods OD •JH £«DC»a»-j a 00 «JM »»4I)»
<«
too-jexto
2:8m
2 to r
division for men's- wear fabrics, with dress goods quiet. Re- M —
tr
— tt.O>Oit~i
t-t*^
MM ex a J0 woococo "^
00 s>
to
1
ports of the jobbing trade show an irregular but on the 04 ooen o.O«H9
m
—
00
CX
MCO
3»
oto«ocoa>
52 -j ex ex
00— ©M —
<Jp«J«IM«S 1 hi
St
©s a
whole a hardly satisfactory condition.
PS MO^aaoo
31
bob
Mtablob
bb <o»j>exoocx
en
M
to
<|C0k3OM
to*.
»*05»-ja»ao
to 3
toot
a as
B IDomrbtio Cotton Goods.—The exports of cotton goods
»ex
ODCXCOtCtV
M ex 00 ^4 — ao ao to
oe
5
from this port for the week ending April 4 were 1,402
3
1
D —
M
oa
to
packages, valued at f 117,604, their destination being to the m
GO
00
3 M ao to O
OCO to COM
000 .
I
P •> CO*-© jo to
5
*.^eoaocx
CO
*>*>
points specified in the tables below
oo^Mpo^ 1 O
"»1
MOOM-ob *3 ao MMboob "2 "j
00 00
M OD00 VfVjcoeo<»
t-co
ex
toco^enao
Oi H
to OO 00 COM
tOMOOJM
•A
1903.
1904.
— C%M|fc.<BC» > CO 000 -JCoaoMO r CO M0D00<IO
S *
m
E New York to Apbil 4.
;
Flax....
rt-
8!lk
Wool...
MlBoellan
Cotton
Mannraot
'
*
;
.
.
•
•
:
:
:
:
:
;
•
:
:
•
\
t
.
•
.
.
.
.
.
•
.
.
.
.
t
a
a
•
.
\\
•
:
'
:
•
:
'•
•
1
.
.
.
.
.
*
*
•
1
'
*
.
1
1
f.
a
1
.
.
I
*
•
!
:
A
1
1
•»•
1
1
1
1
I
B
"ex
1
<i
1
Ilk
>.
<'-
Week. Since Jan.
•
240
399
Other European
vy Hie 4%
-
- -
.
_«••••
India
Arabia.
^\-
1 i I
Ota
*••>•>••>•»•>
......
West Indies
Mexioo
Central America
Bonth America
Oi her Countries
"
Total!'.!
•
•••••».
«
•
.-.-_..
6
851
21
13r>
846
44
1,402
22,605
3,492
9.155
2,881
5,406
610
3,868
16,067
3,425
68,348
1.
Week.
16
34
3,088
520
495
816
74
18
571
796
6,428
Since Jan.
1.
580
417
85.790
5,039
11,270
2,813
8,894
686
2,955
16,369
2,730
137,543
00
00
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00 — CO — K>
K>*>
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to to
tow — —
t-'t^
to
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CO
i
3
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Tl
M
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to
to to CO
*"*
1
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cw
CO
coVvjom
b — w ao^exo©
05
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ex m vo
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MM M
to
06*. COC*
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CO
to
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Vi'^.V».exb
to
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00
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aost
cclo
1
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05
1
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Men
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The lvalue of these New York exports since Jan. 1 has been
|S,620,523 in 1904, against $5,590,261 in 1903.
The export demand referred to above has been confined to
brown drills, 3'25 yards chiefly, buyers apparently not beiog
in the market as yet for brown sheetings. The home demand for both sheetings and drills has been on a quiet scale
only, with little interest shown in goods for other man closeat-hand deliveries. The week's business shows sellers in some
quarters accepting prices previously rejected by them. The
market * for bleached cottons is in a listless condition,
CO
w
©
1
1
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1
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O
9
.
:
Apr.
THE CHRONICLE.
1904.
9,
4
)
.
|
1407
fugt.
1409.
Name.
Canyon City
1129.
1129.
1129.
1287.
8TATS *ND OlTY 3)£f*BTlVT£NT.
Cedar
Bch. Dlst
5
Neb
Cellna, O. (3 Issues)...
Central Falls, R. I....
Cbeswick (Pa ) School
Terms of Subscription— Payable in Advance
For One Year, Including
For Six Months
all
Supplements
$10 00
6 00
13 00
7 50
European Subscription (Including postage)
European Subscription Six Months (Including postage)
The Railway and Industrial Seotlon, Issued quarterly, Is furnished
without extra charge to svery annual subscriber of the Commercial and
Financial Chronicle.
The State and Crrr Section, issued semi-annually, is also furnished
without extra harge to every subscriber of the Chronicle.
The 8treet Railway Seotlon, Issued three times a year, Is likewise
furnished without extra charge to every subscriber of the Chronicle.
The Bank and Quotation Seotlon, Issued monthly, is also fur dished
without extra charge to every subscriber of the Chronicle.
Terms
of
Advertising—(Per Inch Space).
Transient matter (eaoh time) $4 20
Three Months (13 times)
Six Months
(26 times).
STANDING BUSINESS CARDS.
Two Months (8 times)
$22 00 Twelve Months (52 times)
.
.
$29 00
50 00
87 00
1287. Chinook, Mont
1186. Cincinnati, Ohio
1129. .C eveland, O. (2 is.)...
1129 Cleveland. Ohio
1186. .Columbia, Mo
1234. .Columbus. Ohio
123*. Corunua, Mloh. (3 is.).
1130 Cnero, Texas
1187. Dayton, Ore
1187. .Delaware, O. (3 Is .)...
1234 Delaware (Ohio) Boh.
Dlst
1187. DiydeD, N Y
1130. .Bourse, Mich
1235. .Elmwood Place. Ohio.
1*35. .Fergus Falls (Minn.)
Soh. Dlst
1130. Fulton. Mo
1410. .Galveston Co.. Texas.
1410. .Geneaee Co., Mloh
1235. .Gibson Co., Ind
1235. Gladstoce, Mioh
1288. .Glenolden, Pa
1187. Grant's Pass, Ore
1V85 Greenburgh. N. Y
1003. .Greenville, N. C
1288. Greenville, O. (2 Is )
1288. .Greenville (Pa.) Sch.
.
.
WILLl.tn
B.
DANA COMPANY, .Publishers,
Pine Street, corner of Pearl
Street,
NEW YORK.
Post Office Box 958.
MUNICIPAL BOND SALES IN MARCH.
The municipal bond market continues quiet and without
feature, The aggregate of sales during the month of March
was $14,568,741, not including $15,694,678 of temporary
loans. Id February the total was $7,936,331 and in January
$24,198,801. Daring March 1903 sales amounting to $9,084,046 were recorded.
New York City placed during the month $8,000,000 bonds
at public sale, and in addition issued $136,000 bonds to its
own sinking funds as investments. The $3,000,000 $%%
bonds sold by open bids were awarded on March 24 at an
average price of 10010— a basis of about 3*49^. Jersey
City, N. J., succeeded in selling $740,000 i% refunding bonds
(2 iseues), largely to local institutions, at prices
100*25 to
ranging from
Richmond, Va., on March 14 awarded
Shepard & Co., New
at 102 17 and interest. On March 28 the city of
101 05.
$600,000 i% refunding bonds to B. D.
York City,
Milwaukee
bonds aggregating $410,000
Co. and Blake Bros. & Co. of Boston
sold four issues of 4$
to Blodget, Merritt
&
at their joint bid of 103 088.
The number
and the number of separate issues made during March 1904 were 148
and 224, respectively. This contrasts with 120 and 200 for
February 1904 and with 124 and 165 for March 1903.
of municipalities emitting bonds
In the following table we give a list of March loans to
the amount of $14,563,741 issued by 148 municipalities. In
the case of each loan reference is made to the page of the
Chronicle where an account of the sale is given.
March Bond bales.
Name.
Page.
Sate.
1286. Ada, Ind. Ter.
1129. Akron (O.) Boh Dlit..
5
1001 .Allentown, Pa
3 1*
1288 .Allentown
Maturity.
1924
4
1909-1934
Amount.
Price.
$30,000 100
40,000 100017
(106,400 100
20
\ 18,600 \ ]g0
(Pa.) Sch.
3*3
Dlst
1909-1934
72,000
100167
11,000
87,500
50,000
6,260
10,000
35,000
7,500
15,000
1,028
2,246
1,500
60,000
108-27
""bYst.
1129 .Altamont 8oh.
No. 50. 1)1
1287.. Asbury Park, N. J....
1129..Atasoosa Co., Tex....
1129. .Attioa. Ohio
1287.. Auglaize Co.. Ohio....
1408..Bakersneld, Oal
1186..Barberton. Ohio
1234.. Bartow. Fla
11 86.. Bell aire, Ohio
5
4
4^
5
5
4
5
5
6
6
5
1186.. Bellalre, Ohio
1234. . Belle Plaine. Minn
1287. .Berwick. Pa
1409.. Bloom held (Neb ) Boh.
Dlst
1129. .Blooroville, Ohio.
1186.. Bowling Green, Ohio.
1409. .Boston, Mam, (12 Is.).
1409.. Bralnerd (Minn,) 8oh.
Dlst
1287. .Buffalo, N. Y. (2 is.)..
4
1287..BrJffalo,
3*3
4
1933
H914-1944
1915-1920
1906-1915
1905-1922
1904-1903
'"1905"'
1905-1914
1905-1907
1914-24&34
5
4»«
4
1909-1914
1918-1924
3^
4
5
N Y
1287..Boffalo, N. Y
1234 Burt Co. Sch. Diet. No.
1924
1905
1905-1909
1905
1909
5
1909-1913
4
tl9C9 1944
1905 1924
1908-1917
4^2
100
100
10528
10503
100
101-25
100
100
103-90
100
100
15.0C0 102-.*05
1,800 1002:
6.60O ;0O
2,218,80011100
35,000
160,000
100,000
13,183
104-286
100025
100
Neb
1129..BuBbnell
(111.)
1,000
1129. Camden (O.)Sch.Dist.
1129..Canandalgua, N. Y...
1129.. Canton, Ohio
.
4
4
4
1919
5
4
4
U9M-1924
5
5
11906-1809
1*
4
4
4i«
4**
1914
11909-1924
11922-1942
4
4
4^
1904-1928
1909
1934
5
4
1 905-V9 i
4
5
5
1934
1905 1914
.HayB Co., Texas
Henderson. N. C
Highland Park, Mloh.
4
4^
Holdrege. Neb
Iron River (Mioh.)Bcb.
Dlst
6
395
4
1920
1,500 100
26,900 100
74,920 101-36
3(0,000 10259
20,000 102-111
100,000 1103 61
550,0C0^Ti00
82.000 104-27
3.000 100
5,000 103
14,600 101-107
40,000
2,500
30,500
10,000
6
1905-1914
1906-1912
.
5^
Mont
5
1130. Jasper Co., Ind
1130. Jefterson Co., Ala
4 *
1235. .Jersey City, N.J
4
1
.
(2is.)
1235. .Johnstown, Ohio
1238. .Josephine Co. (Ore.)
«oh. Dlst. No. 7
1187. Ktnston, N. C
1235. .Lake Crystal. Minn...
1187. .Lakewood, Ohio
1187. .Lancaster (Pa.) Sch.
Dlst
1187. .Laurel, Del
1187. .Laurel, Mis?. (2 les.)..
1288. .Lookport, N. Y.
1187. .Logan Co.. Ohio
1410. .Maiden Rook, Wis....
1288. .Marion Co.. Tenn
1130. .Manilas School Dist.,
N. Y
1130. .Matagorda Co., Tex..
1003. Matteawan, N. Y
1288. .Mercer Co., N.J
1130. .Mlddletown. Md
1288. .Milwaukee.Wis. (41s.)
1411. .Moorhead (Minn.)Soh.
Dist
1411. .Moorhead (Minn )Soh.
Dist
1288. .Mt Olive, Miss
1187. .Murray City, Ohio
1411. .Napa, G<il
1131. .Na«san Co., N. Y
12E9. .Newark, N. J
1131.. Newark Valley, N.
1934
45,000
4,100
26,500
5
4
U923 1933
5
1924
1905-1914
1905-1909
4
5
5
4i2&5
419
4
6
5
4
4
Y
1905-1934
11913-1943
1905-1934
1924
U924-1934
1905-1924
1914
19091910
11909-1924
1924
1929
1907-1910
1934
1907-1933
(414)
1236.. Newark (O
)
Soh. Dlst.
1236. .New Philadelphia,©.
1187. .New London, Wis
1236. .New York City (13 is.)
1411. .New York City (141s.)
1411. .Norfolk, Va
1131. .Orange Co., Texas
1236.. Onondaga Oo„N. Y..
1411 .Palo Pinto Co., Texas.
1236..Paterson, N J. (3 is.).
1131. .Paulding Co., O (31s)
1188..Penoonnlng
(Mich
Soh. Dist. No. 2
1289. -Pickaway Co Ohio...
1237. Piqua, Ohio
1289. .Port Chester. N. Y. ...
1188..Porterville High. Soh.
Dlst., Oal
1183..Portland, Ore. (2 iss.).
1237. .Port of Portland, Ore.
1237..Poughkeepsle, N. Y...
1237..Prophetstown, 111
1132. .Qutensbury Boh. Dlst.
No. 1. N. Y
1132.. Redwood Falls, Minn.
,
1188.. Richmond.
Va
4*»
5
S*a
"i'9'53""
4
1953
1934
4
11914-1944
3
Sifl
4
4
U9'i4-1944
5
1905-1911
5
6
413
1914
"1924"
4
1905-1932
5
1905-1924
4
"1934""
4
3*
5
1908-1918
4
1907 1922
1924
1938
5
4
1188..8ablneCo.. Tex
1237. Saginaw, Mioh
1132. .81. Marys, Ohio
1238. .St. Marys, Ohio
1006. .St. Paul. Minn
1290..8alamanoa(N. Y.)8ch.
Dlst. No. 4
1132. .Salem, Ore
1290. .Salem, Ore
1188. .Han Antonio. Tex
1238. .San Diego, Cal. (3 Is.).
1132. .Shawnee (Ofcla Sch.
1905-1919
1905-1915
4
4
41a
41*
4
11909-1924
1924
1905-1924
1924
1934
4
5
1924
1924
100143
100
ICO
101-50
100
109
100-43
60,000 103-556
4,000 100
34,000 100
8.0C0 1G0705
26,000 102011
6,500
45,000 10116
30,000
10,000
60,000
14,000
3,000
410,000
7,000
106*05
100
101-666
103817
10101
103083
10107
6,000 100
10,000 101
12,000 104-608
35,000 100
105,000 100-63
200.000 109035
3,000 100
(
< 3,000 100
(21,000 10010
15,000 103-12
ZOiOOO 105-25
10.000
3,000,000 100-10
136,000 IT 100
200,000 100
25,000 100
100,000 100
40,000 100
150,000 100138
37,600 102-45
1,200 100
3,700 101-287
25,000 105-30
27,394 101-26
25,000 103-30
450,000
9661
215,000
94 89
4,000 fllOO
11,000 105-25
100,000
3,770
600,000
4,000
10,000
20,000
19,000
75,000
101-915
10265
10217
100
102075
102 875
104-60
107-92
413
1905-1944
13.000
30.CO0
30,000
30,000
339,000
100
100
100
100
50,000
35 000
4,000
50,000
15,000
100
100
100
100-10
8,003
2,986
5,249
100-11
100-17
)
1905-1918
100
I133..8teubenvlll6, Ohio
4
1911-1915
1905-1919
104-883
1412.. Tishomingo, Ind. Ter.
52,000 100
15,000 10008
100,000 100 075
25,000 101-50
100
100
50,000
11,158
4
4
104-28
™>.oooj }«?:§*
12,000
100,000
12,000
5,764
4
414
25,000
7,000
380.000
.
8,000
1934
1924
1905-1914
101
102
25,000
8,000 108668
9,000 103-383
U914-1924
5
5
G
4
4
4
4
4
15,O('0
1927-1942
41*
10720
20.000 102-13
25,000 100-604
226,500 100
100,000 1 00
123,200 101-64
3,(00 100
29,500 100
12,000
80.00t> 100-34
65,000 103-50
16,877 10350
U909-1924
.Havre,
Pr\ct.
$9,000 100
6,500 100
25,307 103-91
50,000 10105
19 4
(2 Issues)
4
Amount.
1905-1924
1916-1924
1934
5
3
4
4
Md
1914-1934
1924 to 1933
1
4^
4
3-88
5
1287.. Caldwell Co., Tex. (2
Issues)
6
1907-1927
11914-1924
11913-1943
1934
1824
.Hagerstown,
U33..Sumpter, Ore
15,000
1908 1909
11917-1923
1905-1914
1919
1922-1926
Dlst
1007. .Southampton, N. Y...
1290..8outh Omaha, Neb
School
Dlst
U909-1924
1905 1914
10002
. .
55.
Disc
1130.
1410.
1410.
1283.
1187.
1130.
1003.
5
5
4
6
Bluffs,
Dlst
PUBLISHED WEEKLY.
Maturity.
Rale,
xae)
(T.
1133.. Toledo,
1133. Toledo.
1133. .Toledo,
l4l2. Toledo,
Ohio (5
Ohio
Ohio
Ohio
Is.)....
1901-1908
100-30
100-71
101
100019
—
—
THE CHRONICLE.
I40S
N Y
4
1905-1914
1905-1914
1905-1924
1924-1930
1 1913 1943
$40,000
60,000
14.685
65,000
100,000
33,800
24,000
1934
50,000
4
5
U909-1934
5
5
3i«
1412..WarrlokOo., Ind
1238. .Waterbury, Conn
llS9..Watertown,N. Y
1 290.. Waxahachle, Texas...
1290..WayneBvllle Town'p,
N.C
1189..Weatherly
Amount.
Bate.
1189. .UDlon Co, Ohio
1412. .Tupelo, M188
ll89..Utlca.
Maturity.
1904-1909
5
Name.
Page.
4
SH
3»*
(Pa.) Son.
Diet
1190.. WellBton(0.)8oh. Dls.
1239..WestCarrolltOD,Ohlo. 6
l*13..WlllehlreTwp.,Ohlo.. 4»«
4**
1413..Wllmette, 111
4»«
1239..Windber, Pa
14X3. Winston, N. C
5
1239..WoodCo.,Ohlo
5
1839..WoodCo.,Ohlo
1239.. Wyoming. Ohio
1239. .Wyoming. Ohio
6
4
5
4
123»..Yonkers. N. Y
1239 York and Leicester (N.
Y ) 8oh. Dlst. No. 7. 4>*
1133.. Youngstown, Ohio.... 5
5,000
17,000
7,000
40,000
4,000
12,000
100,000
50.000
30,000
3,000
1,471
40,000
1922
1919-1925
1924
1915 1916
119181923
1934
1905-1909
1908-1912
1934
1906-1914
1924
18,487 for to 8,848 against, adopted the
100
102
100
100
100
100
100
106861
11554
101692
100
101
10450
10S-3B
10505
100-88
10427
104'69
14,000 101-264
2,850 10035
1904-1913
1905-1907
Total bond sales for March 1904 (148 mucovering 224 separate Issues). .$• 14,563,741
nicipalities,
Average of dates of maturity, t Subject to call in and after the
and mature In the later year. $ Not|inolndlng $15,694,678
of temporary loans reported and which do not belong in the list.
And other consider1T Taken by sinking fund as an Investment.
*
earlier year
(
ations.
In addition to the above we recorded during the month
March the following sale by a Canadian mnnioipality.
Bonds Sold bt Canadian Municipality.
Page.
Name.
Maturity
Rate.
Amount.
Price.
1410. Harrison, Ont
1905-1934
4>*
$4,500 100 91
of
.
We have also learned of the following additional
month
Additional February Bond Sales.
Maturity.
Sate.
Amount.
1 235..
sales for
of February.
Page.
Name.
1187..Fostorla, Ohio...
Hennessey, Okla......
1187.. La Crosse, Wis. (2 is.)
1132. .Red Lake Co., Minn..
1133..Whlttler (Cal.) High
Boh. Dlst
4i*
6
4
1923
H33
11914-1924
5>«
1914
4i«
1905-1924
Total additional sales for February
$14,867
10,000
30,000
6,500
75,000
[Vol. lxxviu.
Denver, Colo.— Charter Adopted.—This
Price.
10157
. .
the
—
Price.
102-87
100
100-67
100
100829
$136,367
These additional issues will make the total sales (not including the temporary loans) for February 1904, $7,936,321.
by a vote of
city charter pre-
city,
new
pared by the Charter Convention, which adjourned Feb. 6,
1904.
The new document provides, among other things, for
a 3% limit of indebtedness and a maximum tax levy of 15
mills for general city and county purposes. Franchises cannot be granted except upon vote of the tax-paying electors.
Iowa.- School House Debt.— Under an Act of the State
Legislature approved March 80, any independent school district containing, or contained in, any incorporated town or
city of the second class of 8,000 or lees population may become indebted for the purpose of building and furnishing
school houses and procuring sites, to an amount not exceeding 2%% of the actual value of the taxable property within
the district, provided that before such indebtedness can be
contracted in excess of l^ii of the actual value of taxable
property (limit prescribed by Chapter 41, Laws of 1900), the
question must be submitted to the voters in such manner as
provided for in the Act. The law amends Chapter 14, Title
13 of the Code.
Maryland.— Legisla lure Adjourns.—The State Lsgislature
adjourned April 4.
New York State.— Senator Toumsend's Savings Bank Bill
Passes Assembly.— Senator Townsend's bill amending the
Savings Banks Investment law passed the Senate on March
31 and the Assembly on April 6. This bill amends Subdivision
D. of Subdivision Six by including "the first mortgage five
per centum bonds of the Utica Clinton & Binghamton Railroad Company, the payment of said bonds, principal and
interest, being guaranteed by the Delaware & Hudson Canal
Company."
Scranton, Pa. City Liable for Payment of Assessment
Bonds. The State Supreme Court on March 7 handed down
Discount Bank of
a decision in favor of the Dime Deposit
Scranton, in the suit brought by the bank against the city of
Scranton to recover on Washington Avenue paving bonds
—
&
issued in 1891. The city resisted payment of these bonds on
the ground that they were made payable out of a particular
fund which was to be raised by assessments on the properties
benefited by the improvement, as recited in the bonds; and
that there is no money in the hands of the city so collected
from assessments as aforesaid with which to pay off the
bonds in suit. On the other hand, the appellee argued that
the city was required to colleot the assessments, that it could
do so by exercising due diligence, and that it had been negligent in not effecting full collections.
Bond Calls and Redemptions.
Franklin County, Ky.—Bond Call.—James H. Palsgrove>
News Items.
Buncombe t'onnty, S. C. Proposition to Compromise County Judge, calls for payment April 15, at the office of the
Debt.—The following relative to bonds of Buncombe County County Treasurer, 123,000 H 10-20-year (optional) bridge
bonds, dated Feb. 15, 1894.
appeared in the Raleigh "News and Observer :"
Gordon (Pa.) School District.— Bond Call.—W. D. SeitAshbville. N. C, ADril 4.—County Attorney Charles A. Ebb to day presented to the Board of Connty Commissioners a proposition from the holders zlnger, Secretary, calls for payment May 1 all outstanding
or the »l00,ooo worth of Buncombe County bonds whereby the bondholders
offerto compromise the suit now pending in the United States Court and thus
effect a settlement. The bondholders offer the county time In which to pay
the accrued interest on the bonds, and also ded«ct over il.OOO in interest If
the county will not prosecute the appeal from the Circuit Court to the United
State* Circuit Court of Appeals. It is very likely that the county will accept
the terms offered by the bondholders, and special meeting of the commission
era has been called for April 30 for the purpose of taking some definite action.
By the terms of the proposition the bondholders require the county to take
some formal action In the matter by May 1, 1904. This is the suit in which it
was sought to repudiate the $100,000 worth of Ashevllle & Spartanburg
Railroad bonds, and which the United States Circuit Court last November
-
decided valid.
Chicago, 111.— Municipal Ownership Adopted.—This city
5, by a vote of 152,438 for to 30,104 against, adopted
the Mueller Municipal Ownership Act. This Act provides
That every city of this State shall have the power to own, oonstruot,
acquire, purohase, maintain and operate street railways within its
corporate limits, and to lease the same or any part of the same to any
company incorporated under the laws of this State for the purpose of
operating street railways for any period not longer than twenty years,
on enoh terms and conditions >b the Council shall deem for the best
on April
bonds of this district.
Greene Coanty, Mo.— Bond Call.— J. L. Carson, County
Treasurer, calls for payment May 1 at the Fourth National
Bank of St. Louis the following 5# 15-20-year (optional)
funding bonds dated Aug. 1, 1887. Nos. 211 to 222, inclusive;
Nos. 288 to 249, inclusive, and Nos. 182 to 185, inclusive.
Denomination, $1,000.
St. Bernard, Ohio. Bond Call. Joseph Schwegman,
Mayor, calls for payment April 10 at the German National
Bank of Cincinnati $85,000 5* 10-20-year (optional) electriclight and waterworks bonds, dated April 1, 1894.
—
:
Interests of the public
By Section 4 of the Act a direct vote as above on the naked
proposition of the adoption by the city of the Act was necessary as a preliminary tojany steps under it.
On the proposition that the city should at once take over
the street railways into its control, the vote stood 120.744 for
and 50,893 against.
For the temporary licensing of street railways until such
time as the city is prepared to take them over, the vote was
120,181 for and 48,056 against.
Clarksville, Teim.— Bond Issue Valid.—The Snpreme
Court has held valid the subscription of $100,000 bonds voted
Aug. 3, 1901, by the city of Clarksville in aid of the Nashville & Clarksville Railroad, now Tennessee Central RR.
The suit was one brought by certain taxpayers to prevent
the issuance of these bonds, claiming various irregularities
in the election, the main contention being the question of
illegal votes cast for the subscription. The bill was dismissed
by the Chancery Court (see V. 77, p. 2850), which held that
all irregularities were cured by an Act of the Legislature
ratifying all of the subscriptions made to the Tennessee Central Railroad.
Tne case was appealed and the decree of the
Chancellor was modified by the Court of Chancery Appeals.
That Court held that the curative Act did operate so far as
minor irregularities as to the form of the ballot, arrangement
of voting booths, etc., was concerned, but it did not operate
to the extent of curing illegal votes. The Supreme Court, as
stated above, has reversed the decree of the Court of Chancery Appeals, thus confirming that of the Chancery Court.
Bond Proposals and Negotiations this
week have been as follows :
Ambler, Montgomery County, Pa,—Bond Offering.— 3.
Watson Croft, Chairman of Committee, is offering for sale
the $9,000 4% coupon refunding and the $3,000 i% ooupon funding bonds mentioned in the Chbonicle March 26. Denomination, $500. Date, May 1, 1904. Interest semi-annually at
the First National Bank of Ambler. Maturity, from five to
thirty years. Bonds are free from all taxes. Bonded debt,
$21,500; floating debt, $2,000. Assessed valuation, $1,244,455.
Samuel A. Frost is Borough Treasurer.
Ashland Coaaty (P. 0. Ashlaid), Ohio.—Bond Sale
Oil April 4 the $9,500 5% bridge- repair bonds described in V.
Son. Chagrin Falls,
78, p. 1186, were awarded to Rodgera
at 102*476 and interest. Following are the bids
—
&
:
Rodgers
&
S«ns, Chan. Fulls,
.
8,735 26
0.715 00
.
60
0«
ff
First Mat. Bank. Ashland ..
Denuoii, Prior M Co.,CleTeland
9,700
and Boston
Well. Kotb a Co.. Cincinnati. 0.681
0,678
Noble. Moss k Co., Detroit.
U. KiBTbolie *X:o., Cmclii .... U.876
Weitorn German li'k. Cln.... 0.064
. . .
Security Sav. Bank, Toledo.. .$0,666 00
Feder, Holzman A Co.. Cm.... 0,614 00
W. J. Hares * Song, C1ot».
9.607 00
Harden, Miller a Co., Cleve.. D.604 50
A. KlavDoli* A Co.. Clncln.... 9.697 85
I.amprecht Bros. Co., Olere... 9,668 75
S A. Kean. Chicago.
9,634 00
Farson. Leach a Co. Chic
9,628 60
.
12
?»
36
.
.
We
are advised that all of the
Athens, Ga.— Bond Sale.—
$30,000 4% gold city-hall bonds offered but not sold last April
have been disp3sed of at par to local parties. This indicates
that the $8,000 bonds remaining unsold at the date of our last
report (see V. 78, p. 725,) have now been placed. Securities
are dated June 1, 1903, and will mature in thirty years.
Bakersfleld, Cal.— Bond Sale.— On March 21 the $35,000
i% nre-department-improvement bonds described in V. 78, p.
1002, were awarded to the State of California at par and interest.
The only other bid was from the Bank of Bakers
field, which institution offered $30,000 for the bonds.
1
—
Apr.
:
Bonds Authorized by
L- gislature.
— Tbe
State LeRislature prior to adjournment authorized this city
to issue $1,000,000 park bonds, $2,000,000 annex-improvement
bonds and a loan of $6,000,000 for use of the Burnt District
Commission.
Bellalre, Ohio.— Bond Offering.— Proposals will be received until 12 m., May 10, by F. A. Jaokson, City Auditor,
for $20,000 4%%
coupon water- works-extension bond*.
Authority, Section 2885, Revised Statutes of Ohio. De
Date, May 1, 1904.
nomination, f500.
Interest, semiannually in ISellaire. Maturity, May 1, 1914. Certified
check for 5i, payable to the City Treasurer, required.
Bloom field, N. J.— Bond Sale.— On April 4 the $90,000 4<r
water bonds described in V. 78, p. 1234, were awarded to
Dick & Robinson, New York City, at 103-04. Followicg are
tbe bids
ffll.690 00
Dick* Robinson. N«w York.f9?,7S6 00 N. W. Harris ft Co., N. Y
T. W. Stephens * Co., N. V.. 81,880 00 Kountze Bros., New York... 91690 00
:
I
|
Jno. D. Kveritt ACo., N.
N. W. Halsey ft Co., N. Y
Y... 91.8*7
40
91,741 60
|
rarson, Leach
&
Co..
N. Y... 91,800 00
|
Writ of Certiorari Refused.— Chiet Justice Gammer in the
Supreme Court on April 5 refused to grant a writ of certiorari sought by Richard J. Maxfield and others to prevent the
issuance of the bonds above referred to.
Bloomfleld (Neb.) School District No. 86— Bond Sale.—
This district has sold an isBue of $15,000 6g school bonds,
dated March 1, 1904, to Devitt, Tremble & Co. cf Chicago at
102*505 and interest to July 1, 1904.
Boston, Mass.— Bona Sales. Tbe following bonds have
been taken by local funds at par
Taken by Sinking Funds.
—
:
$400,000
376,000
300,000
236,000
3%%
$H%
3^%
»H*
100.000 SV»%
360,000
17J.oi.iO 3M>*
170,000 3H9
Hm
6<J,000
60,000
3H%
3HS
6,000 S}4%
13,800 3>t%
drainage bonds, maturing Jan. 1, 1934.
Dorchester Street bonds, maturing Jan. 1, 1934.
Charles River Basin bonds, maturing J -n. 1, l>-34.
Hyde P.rk Avenue bonds, maturing Jan. 1, lt*34.
Blaiuh n Street and Belgrade Ave. bonds, maturing Jan. 1, 1931.
bonds for various municipal purposes, maturing Jan. 1, 1924.
public park bonds, maturing Jan. i, 1934.
highway bonds, maturing Jan. l. 1934.
bridge bonds, maturing Jan. 1, 1934.
Boston Terminal ana Subway bonds, maturing Jan. 1. 1974.
Taken by TruU Funds.
bonds for various municipal purposes, maturing Oct.
bonds for various municipal purposes, maturing Jan.
Temporary Loan.
1923.
1924.
1,
1,
—
This city recently negotiated a temporary loan cf $1,500,000 at 4% and interest. Loan was made in
anticipation of the collection of taxes.
Boulder, Colo.— Bonds Voted.— The election held March 29
resulted in 224 votes being cast in favor of and 30 against the
issuance of $65,000 water- works-extension bonds. Full det ails of this issue have not as yet been determined upon.
School District.—Bond Sate- On
March 25 $85,000 4%% school bonds were awarded to N. W.
Harris & Co., Chicago, for $86,500. Denomination, $1,000.
Brainerd
Date,
May
1,
(»inn.)
1904.
:
A
:
THE CHRONICLE.
9, 1904.J
Baltimore, Md.
—
Interest, semi-annual.
Maturity,
May
1,
1924.
Buffalo, N. T.— Bond Issue.— The issuance of $1,315 35 3*
bonds to meet expenses of the Department of Public Works
has been authorized. These bonds are to be taken by the
Bailey Avenue Sewer Sinking Fand as an investment.
Date
of issue, April 1, 1904. Maturity, July 1, 1905.
Caney, Kau.— Bond* Irregular,— This city on March 15
awarded the $6,000 6# water and general-improvement bonds
described in V. 78, p. 837, to H. C. Speer & Co. of Chicago.
Subsequently, however, it was found that the istue was
slightly irregular, and another election will have to be held
to authorize the bonds. Securities will be re-advertised if
1409
offered on the 7tn were awarded.
scription of bonds.
Seo V.
78, p. 11*9, tor de-
Cleveland, Ohio. Bonds Authorized.— The City Council
on March 28 passed ordinances providing for the issuance of
the following bonds
$100,000 i% coupon refunding elevated roadway bODds. Matnrity,
26.OC0 4» coupon Ure department building bonds. Date, April
turity. April 1. 19*0.
June
l.
1,
i9c4.
1928.
Ma-
Denomination. $1,000. Interest semi-annually at the Amer*
Excharge National Bank, New York City.
Bond Offering.— Proposals will be received until 12 M.,
April 25 (time extended from April 15) by J. P. Madigan,
City Auditor, for the following bonds
ican
:
1470,000 4*
126,000 4*
46,000 i%
coupon sewer bonds, dated April 1, 1904. Maturity, April 1. 1916.
coupon bridge bonds, dated April 1, 1904 Maturity, April 1, 1915.
coupon Sewer District No. 1 bonds, dated March 1, i9u4. Maturity,
March 1, 1919.
coupon Sewer District No. 2 bonds, dated March 1, 1904. Maturity,
March l, >919.
6,000 i% coupon Sewer District No. 3 bonds, dated March 1, 1904. Maturity
March 1, 1919.
65,000 4$ coupon Sewer District No. 15 bonds, dated March ), 1904. Maturity. March 1, 1919.
6,000 4» coupon Sewer District No. 16 bonds, dated March 1, 1904. Maturity, March 1. 1919.
5,000 4jt coupon Sewor District No. 19 bonds, dated March 1, 1904. Maturity, March 1, 1919.
(6,000 i% coupon Sewer District No. 20 bonds, dated March 1, 1904. Maturity, March 1,1919.
5,0(0 i% coupon Sewer District No. 22 bonds, dated March 1, 1904. Maturttv. March 1, L«19.
175,000 i% coupon water woris bonds, dated March 1/1904. Maturity, March
25,000 4%
1,
5,000
4jt
1919.
coupon public-bath bonds, dated April
1,
1904.
Maturity, April
1,
1919.
255.0C0 4* coupon park bonds, datod April 1. 1904. Maturity, April 1. 1924.
212,000 5* coupon street-improvement bonds, dated April l, l»04. Maturity
|53,0u0 j early on Oct. 1 Irom 19u5 to lfc08, inclusive.
Denomination, $1,000.
semi-annually
at
the
American Exchange National Bank, New York City. A
tified check on a national bank for 5% of amount bid
cer-
Interest,
for,
payable to the "Treasurer of the City of Cleveland," is reBids must be made on blanks obtained from City
quired.
Auditor. Purchaser to pay accrued interest.
Columbiana County (P. O. Lisbon), Ohio.—Bond Sale.—
On April 4 the $40,000 5% debt-extension bonds described in
V. 78, p. 1186, were awarded to Farson, Leach & Co., Chicago, at 105*055 arid interest. Following are tbe bids:
Farson. Leach
ft
Parsons
Cleveland
Co.,Cbicago.$42.022 00
Fuller,
a
42,016 ou
* ptuer
Co., Toledo
K. Kleybolte &Co.. Clncin.... 42.U13 00
Prior
Co., Cleveuenison.
A
land and Boston...
Co .Chicago..
W. J. Hayes St, Sons, Cleve...
Rodgers ft Sons.Cbag. Falls..
NW. Harris*
& Mayer. Clncin.
Weil. Roth & Co., Cincinnati.
Onion Sav. Bk. & Tr. Co., Cin.
Noble, Moss & Co., Detroit...
Heasonaood
Snyder,
Kuhn & Sons, Cincinnati...
Wayne Co. Nat Bk.,WOoster.
S.
$41,560 00
41.503 50
41,601 00
Keoer, Holzman *Co.. Cm... 41,46100
& Tr. Co.Cln. 41,365 00
City 8av.flk.&rrCo.,Allla'ce 41,366 00
Alliance BankiLg Co
41,86000
E. H. Rollins St, Sons Cbic... 41,304 00
Western German Bank, Cin. 41,3* 00
Lamprectn Bros. Co., Cieve.. 41.81100
Hayden, Miller ft Co., Cleve. 41,156 00
42,"09C0
41.916 00
Prov.Sav. B'k
41.867
41,767 00
41,707 25
4i,fH0 0o
0(>
41,(140
<fc
00
41.608 00
Dawson, Oa.— Bond Sale.- On April 1 the $20,000 51 school
bonds described in V. 78, p. 1187, were awarded to Rudolph
&
Co., Cincinnati, at 102-50 and interest.
Kleybolte
ing are the bids
R. Kleybolte 4 Co., Clncin... $10,600 00 Chas. H. Coffin, Chicago
I
Seasongood
ft
Mayer. Clncin. 20,4*5 2o Royal Trust
|
Co.,
Chicago
Follow"20.18100
20,00u00
I) ay to*, Ohio.— Bonds Authorized,—The City Council has
passed an ordinance providing for the issuance of $24,000
storm- water-Bewer bonds.
Deadwood, 8. Dak.— Bond Election.— An election will be
held on April 19 to vote on the question of issuing $35,000
bords.
Detroit, Mich.— Bonds Authorized.—The City Council has
authorized the issuance of $845,000 3%% 80-year public school
bonds and $125,000 $)i% 30 -year sewer bonds.
voted at the new election.
Ector County, Texas.— Bonds Voted.— On March 15, by a
Canyon City (Texas) Independent Sehool District.— vote of 67 to 45, the issuance of $2O,0CO 4% 5 40-year (optional)
Bond ScUe.—Tai* district has sold at par to Randall County court-house bonds was authorized.
and Lamar County $9,000 5<J school bonds. Securities are
Ellsworth, Nobles County, M(nn.— Bond Offering.— Propart of an issue of $12,000, of which $3,000 were disposed of posals will be received until 8 p. m., April 12, oy the Village
late last year.
Council, for $7,500 Q% water- works bonds. Authority, elecCar rollton, 6a. -Bond Election.— An election will be held tion held March 8, 1904. Interest, semi-annual. Maturity,
this month to vote on the question of issuing $45,000 5% water- 15 years. Successful Didder must furnish bond blanks free
works bonds.
of charge. Certified cbeck or certificate of deposit on the
Cattaraugus County (P. O. Olefin), N. Y.— Bond Offering. First National Bank of Ellsworth for $500, payable to the
—Proposals will be received until 12 M., April 15, by E. E. Village Treasurer, required. Bonded debt, including tbis
Alderman, County Treasurer, for the $57,000 4% registered issue, $12,500. Assessed valuation, $150,912. Chas. C. Crawjail bonds mentioned in V. 77, p. 2295.
Authority, Chapter ley is Village Recorder.
686, Laws of 1892, and the Acts amendatory thereto, also the
Elmira Heights (N. Y.) School District.— Bonds Defeated.
general municipal law. Denomination, $1,000. Date, April 1,
This distiict on March 24 voted against the issuauce of
1904.
Interest semi-annoally at the Seaboard National Bank, $12.(00 school bonds.
New York City. Maturity, $3,000 yearly on April 1 from
Fairfield (Wash.) School District.— Bond Election—
1905 to 1928, inclusive. Certified check for 2% of the amount special election will be held April 16 to vote on the question
of bonds bid for, payable to the above-named County Treas- of issuing school- building bonds.
urer, required.
Fail River, Mass.— Bond Bill Vetoed.—The Governor has
Central Falls, B. I.— Bond BUI Passes Legislature.—The vetoed the bill passed by the Legislature authorizing the
State Legislature nas passed a bill authorizing the issuance city of Fall River to borrow ou'side of its debt limit $100,000
of $100,000 bonds.
for paving purposes.
In view of the fact that the MassachuCharles County, Md.— Bonds Authorized.— The issuance of setts State Legislature is continually granting authority to
refunding bonds has been authorized by the Legislature.
municipalities to issue bonds beyond the Legislative limit of
Chico High School District, Bntte County, Cal.—Bond indebtedness, the reasons given Dy the Governor for his disOffering,— Proposals will be received until 10 a. m to day approval of the bill is of more than ordinary interest, and
(April 9 and not April 15 as we were at first advued), for the we therefore give his message below in full:
$35,000 6% echool- building bonds voted February 20. De
The Honorable Senate and House of Representative*
nomination, $500. Date, July 1, 1904. Interest, annual.
I return herewith, with my objections in writing, an Act entitled "An Act to
Maturity, $3,500 yearly. Certified check for $500 required. authorize the City ot Kail River to incur Indebtedness lor Street Paving Beyond Its Debt Limit."
This is a special Act. It Is contrary to the general law of the State, which
District has no debt at present. Assessed valuation, $2,899,limits the Indebtedness of cities to 2H* of their valuation. Tbe object of this
820.
general law, passed many years ago, was to prevent a city from increasing Its
Cincinnati, Ohio.— Bond 8ale.—We are informed by debt to eucb an extent as to impair Its credit or burden Its taxpayers. Exceptions should be allowed only wben some public exigency demands it.
Messrs. Edmund Seymour
Co., New York City, that they
Becauee of alleged urgent necessities. Fall River bas already been allowed
were awarded en April 7 the $50,000 4% 20-year condemna- by the present General Court to Dorrow money outside ot its debt limit for
parKs and sewers. During toe last nine years this same city has been allowed
tion, the $50,000 4% 10-year hospital and the $40,000 4% 20-year 14 times, by special Acts of the Legislature, to borrow money berona its debt
limit. Without discussing tbe merits of these Acts, It is to be noted that in
infirmary boeds at 106'097, 103-147 and 105*765, respectively
each instance the purpose for which the debt was to be contracted was the
have not learned as yet to whom the other four issues construction of some permanent public improvement.
—
,
&
We
—
—
—
——
THE CHRONICLE.
1410
Tbebtll herewith returned permits the city to borrow 4100.000 outside the
paving purpose*. The paving of streets is tu the nature of a
temporary and not a permanent Improvement. E»ery cltv, recognizing that
there is more or less constant annual expense for paving, should meet such
expense so far as possible oat of current lncokne. When that is not possible
the paving should certainly be provided for out of money borrowed within.
and not without, the debt limit The legislature has in the past been so liberal inallowl. « FhII River to borrow outside the limit that it had on the 1st of
January a bori owing capacity of over $*20,000 within the limit. If such items
of a city's expense as paving are'not to be Included within this limit, n is difficult to understand what should oe so iccluded.
lOver $8 of the money raised by taxes on each thousand of Fall River's valuation was used last year to pay interest on tbedeat or the city. 1 am unwilling to sanction any f orthor increase of this burden.
IFor the reasons, tbeu. that this bill is objectionable because It is special legislation, because It contravenes the general law of the State and because it is
unnecessary. Inasmuch as the city can without -legislation borrow the money
Inside of the debt limit If it so pleases. 1 return this bill without my ai. nature.
•debt limit lor
JOHN L. BATES.
Ohio. Bonds Authorized.— The City Couucii on
Marcn 14 passed the following ordinances
March
31, 190*.
Jrintllay,
:
198,000
6% light debt funding bonds, maturing $500 each six months from April
1.
•lWoa. to Oct. 1, lVitt. Inclusive.
2.000 Bjt city- hall maintenance bonds,
[Vol. lxxviii.
_
Hnntsville, Mo.— Bond Offering.— Proposals will be received until April 18 by the City Clerk for $17,500 i% macadamizing bonds, Authority, vote 248 for to 61 against at
election held March 19. Interest, semi annual. Maturity,
$8,500 in ten years, subject to call after five years, and $9,000
in twenty years, subject to call after ten years.
Indianapolis, Ind.— Bond Offering.— Proposals will be re-,
ceived until 12 m., April 20, by J. P. Donn, City Comptroller,
for $125,000
coupon non-taxable flood bonds. Denomi
nation, $1,000. Date, May 1, 1904.
Interest, Jan. 1 and
July 1. Maturity, Jan. 1, 1924. Certified check on an Indianapolis bank for 2%% of the 'par value of bonds bid for,
payable to Oliver P. Ensley, City Treasurer, required. The
legality of these bonds will be approved by Messrs. Storey,
%m
Thorndike, Palmer & Thayer*.
The official notice of this bond offering toilTbe found among
the advertisements elsewhere in this Department.
Date ot bonds, April 1, 1004. Interest semi- annually at
Kenosha, Wis.— No Bond Election Held.— Vie are advised
Office of 'City Treasurer.
that the proposition to issue $100,000 sewer bonds was not
Flashing (Ohio) Special School District.— Bond Offering.
—Proposals will be received until 8 p. m. April 30 for $15,000 submitted to a vote at the spring election April 4, and that
5* coupon school- house bonds. Denomination, $500. Date, up to date no aotion of any kind had been taken in the matApril 1, 1904. Interest semi-annually at the Dollar Savings ter of authorizing these bonds.
Latonia (Ky.) Graded Common School District No. 12.—
Bank of Flushing. Maturity, $500 yearly on April 1 irom
All bids received March 80
1905 to 1984, inclusive. Bids are to be addressed to the Dol- Bids Rejected Bond Offering
lar Savings Bank of Flushing. Certified check for $500 re- for $20,000 5s bonds of this district were rejected. Proposals
quired. The district has no other indebtedness. Assessed are again asked for these bonds, this time until 7:80 p. m.,
valuation, about $230,000. H. Glass is Clerk Board of Edu- April 12, by H. S. Connelly, Secretary. Date, April 1, 1904.
Interest, annually on April 1 at the Farmers' & Traders'
cation.
Fremont, Ohio.—Bond Offering.—Proposals will be re- National Bank of Covington. Maturity, $2,000 yearly.
Lewistowr, Pa.—Bond Election Ordered.—The City Counceived until 12 m., April 15, by the Clerk of the City Counoll,
for $25,948 20 4)£<K sewer and street-improvement bonds. De- oll has ordered an election to vote on the question of issuing
nomination, $1,297 41. Date, April 1, 1904: Interest, semi- $100,000 bonds for the completion of the sewer system.
Lexington, Neb.— No Bonds Sold.— Some papers recently
annually. Maturity, one bond each six months from April 1,
1905, to Oct. 1, 1914, inclusive. All bids must be uncon- reported the sale of $8,000 water bonds of this city at par.
ditional and accompanied by cash or a certified check for This statement, we are advised by the City Treasurer, is
incorrect, no bonds having been issued.
$300. Accrued interest to be paid by purchaser.
Lincoln, Neb.—Bond Offering.— Proposals will be received
Galveston County, Texas.—Eonaa Issued.—We are advised
that $869,000 of the if sea-wall bonds have been issued and until 4 p. M-, April 18,' by Beman C. Fox, City Treasurer, for
paid for up to date. This indicates that $226,500 of these $1,290 1-10-year (serial) alley paving distriot No. 14 bonds.
bonds have been put out since the report in the Chronicle Date, April 1, 1904. Interest, annual'. Certified check on a
Lincoln bank for
of the issue required.
Dec. 19, 1908.
Lindsay, Out. Debenture Offerina. Proposals will be reGarrett County, Md.— Bond Election Authorized,—The
State Legislature has authorized an election in this county ceived until 12 m., April 15, by F. Knowlson, Town Treasto vote on the question of issuing $25,000 court-house and urer, for $28,114 84 4% local improvement debentures, maturing part yearly for twenty years and $31,369 88 4% local imjail bonds'.
Genesee County, Mich.—Bond Soie.—We are advised that provement debentures, maturing part yearly for ten years.
Logan City, Utah.— Bond Offering.— Proposals will be rethe $160,000 i% court-house and jail bonds mentioned in the
ceived, until April 15 by Haitie Smith, City Recorder, for
Chronicle September 5 have been sold at par, part to the
Supreme Tent, E. O. T. M., part to the Ladies of the Mac- $12,000 6* 10-20-year (optional) gold electric-light bonds.
2
cabees and part 10 toe Citizens' Commercial & Savings Bank Certified check for 2y % of amount of bid required.
Lucas County (P. O. Toledo), Ohio.—Bona Offering.—Proof Flint.
Geneva, N. r.—Bond Offering.— Proposals will be received posals will be received until 10 A. M., April 25, by David T.
until 8 p. M., April 11, by J. H. Rigby, Chairman Finance Davies Jr., County Auditor, for $49,664 4%% bridge bonds.
Committee, for $44,000 4% street improvement bonds, as fol- Denomination, $500, except one bond for $164. Date, May 2,
19u4. Interest semi-annually at the office of the County
lows:
Maturity, $2,500 yearly on May 2 from 1905 to
$30,600 bonds (being the city's proportion of the cost of Improvement) matur- Treasurer.
ing $1,600 yearly on April 1 from 1905 to 1923. inclusive, and $2,000 on
1923, inolusive, and $2,164 on May 2, 1924. Authority, SecApril 1, 1»<!4.
13,500 bonds (being the property owners' proportlonof the proposed improve- tion 871, Revised Statutes of Ohio.
Certified check for $1,000
ment) maturing $l,ou0 yearly on October 1 from 1004 to 190<\ inclu- on a Toledo bank, or else
cash to that amount, required with
sive, and $1,510 yearly on October 1 from 1907 to 1918. Inclusive.
maturing $600 yearly on Oct. 1 from
•
•1906 to 190f inclusive.
4,000 6* general government funding bonds, maturing $500 yearly on April 1
from 1906 to 1913. Inclusive.
,
—
—
H
Bonds are
all a direct obligation of the city.
DenominaDate, April 1, 1904. Interest, eemi-annually at
the National Bank of Commerce, New York City. Certified
tion, $500.
cheok for
$1 ,000 required.
Glenville, Ohio.— Bonds Authorized.—The City Council
21 passed an ordinance providing for the issuance
of $60,000 5% St. Clair street-improvement bonds. Denomination, $1,000. Date, May 1, 19J4. Interest, annual.
Hamilton, Ohio.— Bond Offering.— Proposals will be received until 12 m., April 16. by the Trustees of the Sinking
Fund— Walton S. Bowers, Secretary— for $15,000 4^*- refunding water, $5,000 4}4% refunding gas-works and $5,000
4%% refunding electric-light bonds. Denomination, $500.
Date, May 1, 1904. Interest semi-annually at the Second
National Bank, Hamilton. Maturity, May 1, 1919. Bidders
must use printed forms furnished by the Secretary. Certified check for o% of the par value of the bonds bid for, payable to the Trustees of the Sinking Fund, required.
Harriet on, Out.— Debenture Sale.— On March 81 the $4,500
i}4% high-scnool debentures described in V. 78, p. 1285, were
awarded to the Dominion Securities Corporation, Limited,
of Toronto, for $4,541 and interest. Follow Id e. are the bids :
on Maroh
Dominion Securities Corp.... $4,64100 Mut. Life As'oeCo..Waterloo.$4.600 00
O. A. Stimson & Co., Toronto. 4,603 00 W.C. Brent. Toronto
4 448 00
U. O'Haraa. Co.. Toronto
4.500 00 Bronae. Mitchell & Co..T'ronto 4.420 00
I
I
Havre, Chouteau County, Mont. Bona tiaie.—Oa Maroh
28 the $26,500 water and sewer bonds described in V. 78, p.
887, were awarded to Trowbridge
Niver Co. at par for 5J^
per cents. Following are the bids
&
:
Trowbrldga
A
Nlver Co. (for
ftXs)
Havre de Grace, Md.
Obas. H. Coffin (for 8s)
$26.600 8. A. Keanlfor (Is)
|
1
—
$27,201
20.65J
—
bids.
Lndington (Mich.) School District.—Bonds Voted— This
has voted to issue $15,000 school-house bonds.
Lozerne. County (P. O. Wilkes-Barre). Pa.— Bond Sale.—
Ou April 2 $200,000 4% court-house bonds were awarded to
W. J. Hayes <fe Sons, Cleveland, at 103%. Denominations,
$500 and $1,000. Date, Aug. 1, 1903. Interest, semi-annual.
Maturity, $10,000 yearly on August 1 from 1908 to 1927, inclusive the bonds maturing in 1908 and 1909 being for $500
each and the others $1,000 eacb. These bonds are part of an
issue of $617,000, of whioh $200,000 were sold to Rudolph
Kleybolte
Co., Cinoinnati, last fall.
are adMacon, Ga. Bonds Not to be Re-advertised.
vised that the $40,000 sewer and the $20,000 town-hall 4%
bonds offered for sale on March 8 without success will not be
re-advertised, but will be disposed of in Macon. See V. 78,
p. 1003, for description of bonds.
Madison County (P.O. Jackson), Tenn.— Bond Sale.— On
April 4 the $100,000 4 f road bonds described in V. 78, p. 1288,
were awarded to Farson, Leach
Co., Chicago, at par. No
other bids were considered.
Maiden Kock, Wis.— Bond Sale.—This village has sold an
issue of $6,500 5* water bonds to private parties.
Massachusetts.— Temporary Loan. This State has borrowed $1,500,000 from the National Shawmut Bank of Boston at 3'60g interest. Loan matures Nov. 15, 1904.
Memphis. Tenn.—Bond Offering— Further details are at
hand relative to the offering on April 14 of $200,000 41 water
bonds. Proposals will be received until 12 m. on that day by
Walter B. Armour, City Secretary. Denomination, $1,000.
Date, May 1, 1903. Interest semi-annually at the Memphis
Trust Co., Memphis, or at the United States Mortgage
Trust Co., New York City. Maturity, May 1, 1983. Eacu
bid must be for the entire $200,000 offered and must be acdistriot
—
&
—We
&
—
Bonds to be lusucd. This city, it is
&
sewerage oonds.
Hays County, Tex.— Bona Sale.— The State Board of Education has pnronasbed at par and interest an issue of $15,000 companied by a certified check on a Memphis bank for $5,000,
4* 10-40-year (optional) road and bridge bonds, dated Sept. payable to the City Secretary. • These bonds are part of an
10, 1908.
issue of $3,500,000 authorized by the General Assembly
Huntington, N. T.— Bonds Voted.—By a unanimous vote April 14, 1903. The entire issue is secured by a trust deed on
this district on April 5 authorized the issuanoe of $9,000 4% the water plant, property and franchises and by the obligaschool bonds. Details of issue not yet decided.
tion of the city of Memphis to levy a special water tax on all
stated, will issue $30,000
—
j
Apr.
9,
'
.
Ull
THE CHRONICLE.
1904.
These boDds hav« beeu purchased at par and
Board of Education.
Paonia, Colo.— Bonds Not Sold.— We are sdvised that the
$40,000 5i water- works bonds offered but not sold on
January 15 have not as yet been placed, although negotiations for their sale are now pending. See V. 78, p. 60, for
description of bonds.
Park County (Mont.) Free High School District.— Bond
Sate.- On April 1 the $25 000 4&<6 2u year building bonds
described In V. 7 s p. 1181, were awarded to the Union
BanK & Trust Co., Helena, at 102 and interest. Following
Feb.
taxable property in the city it the revenue is insufficient to
pay operating expenses, interest on the bonds and retire
$50,000 of said bonds each year.
Mtamisburg, Ohio.— Bond Sale.— On April 2 the $30,000
4 l4% 20 30-year (optional) water- workd bonds describad in V.
78. p. 1180, were awarded to Weil, RcKh & Co. and S. Kahn
Sons, Cinoinnati, at their joint bid of 10534.
Monson, Miss.— Bonds Defeated.— A. proposition to issue
$18,000 school-house bonds Jailed to carry at the town meeting held April 4.
Moorhead(Minn.) School District.— Bond Sale.— This district so.d last mouth to the Minnesota Loau & Trust Co.
$7,000 4 l4t 10-year funding bonds, dated April 1, 1904, for
Interest annually in April. The district also sold at
$7,075.
par to the State of Minnesota $6,000 4* funding bonds, maturing $3,000 July 1, 1909, and $3,000 July 1, 1910. Interest
annually in July.
Motley County, Texas.— Bonds Voted.—This county, it is
stated, has voted to issue $24,500 5-40- year (optional) courthouse bonds at not exceeding 4% interest.
Bond Sale.—This town has sold an
Mount Airy, N.
issue of $15,000 5* water and electric-light bonds to N. W.
Harris & Co., New York, at par. Denomination, $1,000.
Date, April 1, 1904. Interest, Jan. and July. Maturity,
April 1, 1934.
Mount Oliver, Pa.— Bond Sale.— On April 4 this place
awarded an issue ot $15,000 \.%% street-improvement bonds
Co., Boston, at 104*20. Denomination,
to E. H. Gay
Date, Jan. il, 1904. Interest, semi-annual. Matur$1,000.
ity, Jan. 1, 1924.
Nacogdoches (Tex .) Independent School Digtrict.— Bond
Offering.— Proposals will be received at any time by J. M.
Weeks. President, for $86,500 5<6 5-40-year (optional) schoolhouse bonds. Denomination, $1,000. Value of taxable prop-
11. 19U4.
interest by tne State
&
,
are the bids:
$25.095 00
Union Bk. * Tr. Co.,Helena..$«5.600 00 Royal Tnist Co.. Chicago
Harris A Co.. Chicago. 25.390 (J'> E. H. Rollins* Sons. Denver. 24.600 00
N
rarson. l.each A Co., Chic... 24,860 00
.. V5 'dS uO
8. A. Kean. Chicago.
n. M.Stoddard & Co..Mln'lis. 25,125 00
I
W
|
i
I
Perry County (P. O. Perrjville), Mo.— Bond Sale.— On
the $30,000 5<6 court-houee bonds described in V. 78,
1
p. 1005, were awarded to James B. Cahill of St. Louis at
Following are the bids
101*041.
April
:
B. Cahill. St. Lonls.... $80,812 60
Karson. Leach * Co.. Chic. . "32.1 12 00
R. Kleybolte A'.Co.. Cincln.. .•31.050 00
Miss. Valley Tr.Co..9t. Louis. »30.625 00
N. W. Halsey & Co Chlcago.»30,318 00
'30,311s 00
Little A Hays. St. Louis...
First HSU D..,.CllOieuil Cltv. «v,ww w«
r II SI. Nat- Bk.. Jefferson *;»..-. 30.800 00
First State Bank,*Chester...*W0.166 60
Fuller, Parsons
Snyder,
James
C—
&
.
.
.
1
.
...•80,000 00
Cleveland
Francis Bros., St. Louis
•)!9,400 00
W. L. Cohen, for $10,000
10,160 00
1,607 00
__- . , 1(%k .
S $1,600.
Hp fLucke
J
6 oo
ww.
600.
«#,.*# 75
603 ...
)
\
MacDonald.McCoy ACo.,Chi.*S0,ie9 00 Leo
I
•
Schull. for $1,000
l.OOO.Oo
Bids said to be conditional and therefore rejected.
Peshtlgo, Wis. Bonos Auttiorizea.— The Common Counhas passed an ordinance providing for the issuance of
$20,000 5* sewer bonds.
Pbamix, Ariz.— Bond Sale. -On April 2 the $300,000 5*
gold water bonds described in V. 78, p. 1005, were awarded
to Isaac Soringer & Co., Pasadena, at 105*875 and interest.
Plain Township School District, Franklin County, Ohio.
—Bond Offering.— Proposals will be received until 12 m.,
April 80, by M. H. Dewitt, Township Clerk (P. O. New Albany), for $6,600 656 bonds. Authority, Sections 3991, 8992
and 3998, Revised Statutes of Ohio. Denominations, one
bond for $1,000 and eleven for $500 each. Date, April 80,
1904.
Interest, semi-annually at any bank in Columbus.
Maturity, $1,000 Sept. 1C, 1904, and $500 each six months
&
cil
erty, $1,649,000.
Napa, Cal.— Bond Sale.— On March 29 the State Board of
Examiners purchased at par and interest the $35,000 4% improvement bonds recently voted by the people. DenominaDate, April 15, 1904. Interest, March 1 and Seption, $100.
tember 1. Maturity, 1929.
Newbury, Ont.— Debenture Offering.— Proposals will be
from March 10, 1905, to March 10, 191U, inclusive. Certified
check on a trust company or a national bank for 2% of the
par value of bonds bid for must be deposited with the Township Clerk. Bidders are required to be satisfied as to the
legality of the bonds before bidding.
Portvue, Pa.— Bonds Authorized.—The Borough Council
has authorized the issuance of $25,000 water and streetimprovement bonds.
Ridgely, Md.— Bonds Authorized by Legislature. The
State Legislature has authorized the issuance ^f water- works
received until April 15 by Chas. Tucker, Village Clerk, for
$2,800 5i debentures maturing part yearly for 15 years.
Newport, B. I.— Bonds Not 8old--Bond Election.— We
are advised that none of the bids received March 22 for the
$100,000 3>£« gold school bonds were satisfactory, and that
the bonds have been withdrawn from the market for the
time. On April 12 a vote will be taken on a proposition to
iaeue $50,000 bonds in addition to the $100,000 already authorized, and, if favorable, $150,000 S%% bonds will be offered.
Newport (Ky.) School District. -Bond Sale.— On April 4
the $25,000 4% 20-year school bonds described in V. 78, p.
Mayer, Cincinnati, at
1289, were awarded to Seasonggood
Following are the bids:
10d-501.
8«MODff00d & Mayer. Cln.... $25,625 25 Newport National Bank. .. .$25,200 00
N. W. Harris & Co.. Chic ... 86.50") 00 feeder, UoUmau* l o..Cln... 26.125 0"
K. ttley oolte * Co.. Cmcln... 25,375 00 W J. Hayes* Sons. Cleve... iS.OOTOO
—
bonds.
Rockville, Md.— Bonds Authorized by Legislature.— Authority has been granted by the State Legislature iur the is-
&
ance of $5,000 water-works bonds.
s
Rocky River, Ohio.— Bonds Authorized.— The Village
Council on March 24 passed an ordinance providing for the
Issuance of $4,000 556 Wooster road bonds. Denomination,
New fork City.— Bond Issues.— The following issues of $500. Interest, April 1 and October 1 in Rocky River. Macorporate siock of New York City were taken by the sinking turity, $500 yearly on October 1 from 1905 to 1912, inclusive.
fund as investments during the month of March
Rome, N. Y.— Bonds Authorized. The issuance of $19,716
—
:
Interut Rate. Maturity. Amount.
1953
$3,000
Construction dormitory Medical College. Man'tan. 3
Pwpou.
Pavm* Jerome Av»nue
»
14*53
3
1963
2,000
15,000
6,000
12,000
3
3
1963
1V53
17,000
10.000
3
1W53
fl.OOO
3
1»«>3
Fire Uepintuent fuud -Kites and buildings
Construction bridge-, over Go wanu* Caual
Amerii- in Musi-urn of .vuurai History
Improvement parks, parkways and drives, Manhattan and Richmond
r
....„.,
3
1853
Jail
..
.
Ne« Richmond bounty
Construct <n and equipment of public comfort stai
tions, vi.inh.utan
~\
,
.-
Washington Hark Stapleton. Richmond ... ..^^...
Water fund. Brooklyn
..
Gouverueur Hospital- completion.. ...
Aquarium Building. Battery 1'ark
Construction aud improvement small parks, Man
Department StreetCleaniug -new plant— Br'klyn
.
1963
lw53
1953
3
3
3
3
8
19f-3
195;
3
lv53
Total.
l.ooo
50,000
3,000
5,000
6,000
2,i00
I13B.C00
the above bonds, the following "revenue
bonds" (temporary securities) were issued and taken by the
Sinkiug Fund
In addition to
:
Amount.
Int. Rate.
4
Revenue bonds— 9peclal
Revenue bonds. 1904
Revenue bonds, lwtn,
Revenue bonds. 1904
Revenue bonds, 1904
4
tl.Ul.0u0
$7,500,000
3%
3i3
jfc
Total revenue bonds
.
.
k& Tr.Co-.Toledo.
21,176 00
oeasou t'00a« Mayer, Clncm. 21.W7 2^
Newlst Nat. Bk.. Columbus.. 21.027 00
Sec. Sav.B
|
I
I
r\ 8. Briggs
S.
&Co.,CinoinuatL
ai'.805
00
A. Kean, Chicago... .^..j... 20,12t»00
*.•*
I
Ohio— Bond Saie.—Oa
April 1 the highest bid received fur tne $25,000 556 1-25-year (serial) coupon refunding
bonds described in V. 78. p. 1132, was tnat of S. Kuhu
8ons, Cincinnati, at 108-302. Followiu^ are the bids:
VV. J. Hayes A 8ons. Cleve... I2A.292 00
S. Euhn & Sons, Cincinnati. .$47,075 50
Western German Bk„ Cm... 20.812 50 P. S. Briggs.tCo..Cinoknnutl. ^8,265 00
2d,X60 00
2ii.nii- uO
a KlevDolte <v Co.. Cm
Karson, Lencb x Co.. Chic.
Salem,
&
.
Atlas Nat. Bank. Clnciuuatl.. zri.762 50
ai.o >2 oo
HpitzeriCo.. Toledo
Lamprecht Bros. Co.. Cleve.. 28.-»:c 5o
s Mayer. Clntio. 2»>390.r,0
Sec. Sav. Bk. &Tr. Co.. On... 20.370 00
seasr.ugi-'xj
I'rov.Sav.BkJtTr. Cu..Cln. vtJ.231 U
Hayden. Miller a Co.. Cleve. 20.107 60
New
1st Nai. Bk. C'oluiuous. itl.t57 00
Deulson, Prior A Co., Cleve20.042 11
land and Boston
Mttlibbury, lid.— Bonds Authorized by Legislature.—Tne
Stute Legislature has authorized this place to usue $10,000
atreet-improvement bonds.
i.80t>/>00
18
street-improvement bonds has been authorized.
St. Clair Township, Columbiana County, Ohio.— Bor,d
Sale.— On April 1 the $20,000 5% road bonds described in V.
78, pp. 839 and 784 were awarded to Geo. A. Gaston of Cleve*
land at 108 375 and interest. Following are tne bids :
Geo. A. Gaston. Cleveland .$20,676 00 W. J. Hayes & Sons. Cleve.. .$20,840 00
5'i0.00-i
2,015.000-11,876.000
$13.oit),90O
saudnsky, Ohio.— bonas Authorized.— The City Council
on March 21 paused an ordinance providing for thb issuance
of $10,000 4s6 10-year refunding water bonds. Denomination,
*•*
$uooo.
by Legislature.—This
Snow Hill, Md.— Bonds Authorized
place has bben authorized by Legiblatuie to lesue Btreet-im-
Norfolk, V a.— bond Sale.— We are advised that the $200,000 4% 30-year police-station, sewer, street and other improvement bonds, described in V. 78, p. 120, have been sold
par and interest.
North Hempstead Union Free School District No. 7,
Nassaa County, N. l.—Bond Sale.— On April 4 the $12,0oU
4* school bonds, described in V. 78, p. 1289, were awarded to
Geo. M. Hahn, Now York City, ac, 101 395. Following are
locally at
provement bonds.
Souih Orange, (N. J.) School District.— Bond Election.—
A meeting will be held in this district April 14 to vote ou the
tne bids:
question of issuing $16,000 456 school improvemeut bonds.
Bond
Geo. M. Hahn. Now York
101-396 N. W. Halsey * Co.. New York 100-81
Spring Hope School District, Nash County, N.
Koslyn fcavious Bunk
10ri»
8 A Keaij.Criic;ikO .w
1000O
Saic— lue $t>,000 5% scnool bonds, mentioned in the CuronOakland, tal. — Bond Election.— The City Council has in- iclb Jau. 23, have bean sold at par to the Royal Trubt Co.
structed the City Attornev to draw up an ordinance submit- or Linlcago. Bonds are dated Jan. 1, 1904,
ting to a voto of tho people the question of issuing $2,478,000
Squaw Creek Oruinage District No. 1. Holt Coanty, Mo.
bonds lor various purposes.
—bund* j\ot Sold.— The 5100,000 i>%. drainage bondo described
Ocean City, JUti.-Loan Authori::ed.—The Legislature has in V. 78, p. 1188, and otf^reti ou April 1, were not bold.
") author i/.ed tnis city to horrow
St.irk County (P. O. »;untou), Ohio.— Hond Otferm}.— Pro$15,000.
P»lo fin to County. Tex. -Hand* Registered and Sold.— Dosald will be rec-ived until 10 a. M„ April 4U. by M. W.
Th« Si.Ht.i) Complrolfai <>u March 31 reuiiU^red an ibsou of Oberlin, Countv Auditor, lor |<.0.00>> t»i bonds. Denomina$40,ooo 4*'lo 4<)-y e Hr (optional.) road, and bridge bonds dated te, $1,000.
Maturity, f'i.OOO e»cu bix months from Feb. 15,
j,<
C—
l
I
'
—
THE CHRONICLE
1412
Um ted
Treasury Notes Sold.— Speyer
states of Mexico
Yora City have purchased from the Mexican
Government $6,000,000 4Xi 2-year treasury notes of the
United States of Mexico. The Deutsche Bank of Berlin is
interested in the purchase.
Utah— Temporary Loan.— This State on March 80 bor-
Authority for i»nue, Sec1905, to Aug. 15, 1909, iDclosive.
tion 871, Revised Statutes of Ohio. Certified check for $3,000
required.
Sterke County, Ind.— Bond Sale.- On April 6 the $2,201 16 6* ditch borjds described in V. 78, p. 1188, were awarded
to S. A. K«an of Chicago for |2,203 36. This was the only
bid received.
Swampscott, Mass.— Bond Offering.— Proposals will be received until 2 v. M., April 11, by A. R. Bunting, Chairman of
Sewer Commission, for $25,000 A.% coupon sewer bondp. Denomination, $1,000. Date, Sept. 1, 1908. Interest payable
at the Colonial National Bank at Boston. Maturity, first
series, $13,000, $1,000 yearly on September 1 from 1913 to
1925, inclusive, and second series, $12,000, $1,000 yearly on
September 1 from 1914 to 1925, inclusive. These bonds were
offered as 3^8 on February 27 without success.
Tippecanoe County (P. O. Lafayette), Ind.— Bond OfferThis county will offer for sale on April 15 the following
ing.
road and ditch bonds:
& Co. of New
rowed
6,0
.
'
I
\
102.
Following are the bids
.
THOS.
P.
VINCENT,
Public Securities
W
INVESTMENTS.
LOANS.
IND.,
MEW YORK.
CHICAUO.
BRIDGE BONDS.
3&9b
City Comptroller of the City of Indlauapolis.
Indiana, will receive sealed bids until 12 o'clock
noon, on Wednesday, April 20, 1904, for $125,000 of
Indianapolis Flood Bonds of 1904, the Issue being
authorized by General Ordinance No. 28, 190*.
The bonds are of $l.uOO each. NON-TAXABLE,
bearing 8*4 per cent interest, payable semi annually
Jan. 1 and Julyl; they are dated May 1, 1904, and
payable Jan, 1, 1924; and the first coupon on the
above $126,u00 will cover interest from Ma? 1, 1904,
when they will be Issued, to Jan. 1, lvOft. No bid of
less than par will be acoepted. The right Is reserved
to reject any or all bids, or to accept parts of different bids. Ench bid must be accompanied by a certified check on an Indianapolis bank, payable to Oliver
P. Ensley. City Treasurer, for a sum equal to 2}* per
cent of the par value of bonds Did for.
The legal opinion of Storey, Thorndlke. Palmer &
Thayer as to the validity of the issue will be on file
in the Comptroller's office, and may be examined by
bidders. Further particulars or Information desired
may be had by addressing: the undersigned.
J. P. OUNN, City Comptroller.
GOLD
TAX-EXEMPT BONDS.
T.W.STEPHENS & CO.,
2 Wall Street,
Perry, Coffin
Co.,
&
Burr,
Congress Street, Boston.
36
NASSAU STREET. NEW YORK.
INVESTMENT BONDS
F.
Goodman &
2 Wall Street,
New
R.FULTON & CO.,
Municipal Bonds,
171 LA SALLE STREET,
BOSTON.
CHICAGO.
Co.,
Established 18S5.
York.
Investment Securities.
STOCKS
A
SPECIALTY
MacDonald, McCoy
MUNICIPAL
AND
&
H. C. Speer
CORPORATION
ILLS
171
La
& Company
St.,
COUNTY
AND TOWNSHIP
CITY,
Chicago.
BONDS.
(Jo.,
BONDS.
172 Washington Street,
•
&
STATE. CITT & RAILROAD BONDS.
BANK
LIST ON APPLICATION.
York.
Blodget, Merritt
159 La Salle
CHICAGO,
New
16
BOSTON
T. B. POTTER,
MUNICIPAL and onKinc
CORPORATION »<JIMU&,
CITY
BANKERS
C. E.
PHILADELPHIA.
NEW YORK
The
CO.,
>
.
Weatfleld, Mass.— Lean Authorized.—At a town meeting
held April 4 a loan of $10,000 was authorized for an electricpower plant; also loan of $64,000 for surface drainage.
60 State Street,
FARSON. LEACH &
People's Sav. Bk.,Evatisville.$65.716 00
B. Kleybolte & Co.. Clncin.. 65.706 60
W.J. Hayes* Sons, Cleve... 66,009 00
Waxahaehle, Texas.— Bonds Voted.— By a vote of 148 for
to 23 against, this city on April 1 authorized the issuance of
water-works bonds.
$25,000
I'll
Chairman Board of County Commissioners.
:
$«6.800 00
John P. Weyerbucher
W.305 CO
J. F. Wild * Co.. Ind'apolis.
E. D. Bush & Co., Indian'lls . 66,001 00
INDIANAPOLIS,
ROAD IMPROYEMENT BONDS.
I
Warrick County (P. O. Boonville), Ind.— Bond Sale.-Oa
March 80 the $65,000 i% coupon court-house bonds described
in V. 78, p. 841, were awarded to John P. Weyerbucher at
§125,000
Sealed bids will be received by the Board of Commissioners of Heads and Revenues of Clarke County,
Ueoreta. until 12 o'clock M., APRIL 14, 1B04, for the
purchase of $100,000 Clarke County, Georgia, Road
improvement Bonds. Bias may be made for the
whole amount or any part thereof. Bonds are to be
of the denomination of $500, dated July 1st, 1901, and
payable $1,500 annually for the first ten years, $4 000
annually for the next fifteen years and $5,000 annually for the next five year*. Principal and interest
payable In t old at Athens, Ga., or New York City.
Interest 4 per cent, payable January 1 and July 1.
Bonds are to be delivered July 1, 1904.
These bonds are Issued by the authority of the
Constitution and laws of said State and by an overwhelming vote of the people, and have been validated by the courts.
Assessed valuation of property
$6,500,000
Market value of property
8,000,000
Population in 1900
17,708
Estimated population in 1904 over
20,000
Entire indebtedness, including this issue.
1 Ml ,000
County has never defaulted In payment of any
debt.
Each bid must be accompanied by a certified check
for 2^ per cent of the amount bid for, to be forfeited to the said county if bid Is accepted by the
Board and not compiled with by the bidder. All
bids must be endorsed "Proposals for Road Improvement Bonds'' and directed to "A. L. Mitchell,
Clerk Hoard ol County Coinuiisslnners, Athens. Ga."
The right to reject any and all bids Is expressly re
M
coupon bonds of Mark's Creek Township.
required.
placed.
GA.
—A
Denomination, $100. Interest, January 1 and July 1 at
the Farmers' & Merchants' Bank of Baltimore. Authority,
Chapter 1, Private Laws of 1903. Certified check for $500
A
CLARKE COUNTY,
Loan was made
of
H 30-year coupon bonds of Raleigh Township.
St. Matthew's Township.
5£ 30-year coupon bonds
8,000 5* 3c-year
We
#100,000
interest.
&
$35,000
are advised that
Tishomingo, Ind. Ter.— Bond Sale.—
the $80,000 5$ water and the $20,000 5% school bonds cffered
but not sold last August have been placed at par and interBonds are
est with Browne-Ellmwood Co. of Chicago.
dated Feb. 1, 1904.
Toledo, Ohio.— Bond Sale.- On March 30 the $5,249 82 i%
street-improvement bonds described in V. 78, p. 1007, were
awarded to the Trustees of the Police Pension Fund at par,
accrued interest and a premium of $1.
bid was also received from the Merchants'
Clerks' Savings Bank of Toledo, but it was too late to be considered.
Tupelo, Misa.— B»nd\4ale.— It is reported that the $60,000
H% gold water and sewer botds offered but not sold last
NEW
S%%
at
C—
Treasurer.
LOANS.
1
Yaldoata, €t».— Bond Election.—The City Council has
passed an ordinance calling an election to vote on the
question of issuing $15,000 paving and $5,000 engine-house
and city-stable bonds.
Vancouver, B. Q,.— Debenture Offering.— Proposals will be
received until 4 p. m., April 22, by Thos. F. McGuigan, City
Cierk. for $150,000 Z%i debentures. Interest, semiannual.
Bond Offering.—
Wake County (P. O. Raleigh), N.
Proposals will be received until 12 m., May 4, by B. P. Williamson, County Treasurer, for the following bonds, voted
Pamlico Sound RR:
Sept. 22, 1903, in aid of the Raleigh
The above boDds are all dated April 15, 1904, and the interest will be payable semi-annually at the office of the County
NEW
May
bill has been prepared
Utiea, N. Y.— Bonds Proposed.
for submission in the State Legislature providing for the
issuance of intercepting-sever bonds.
$7,000 CO 6* (travel road bonds of 1500 each, maturing $2,000 on April 15. 1906
*2.C00 April 15. 1907; $1,500 April 16. 1908, and *1.600 April 15, 1909.
3,944 23 6* Anson ditch bonds of $100 each, except one bond for $l*4'23. maturing $500 yearly on April 15 from 1908 to 1912, inclusive, and $444 23
on April 15, 1913.
3,010 00 0:? Kevnolds ditch bonds of $100 each, except one bond for J110.
Maturity. $600 yearly on April 16 from 19C6 to 1909, inclusive, and $610
April 15, 1910.
August have been
$50,000 until
with the State Bank of Utah.
—
&
[Vol. lxxyiii.
Salle Street, Chicago.
MUNICIPAL BONDS.
E. C.
STANWOOD &
95
BANKERS.
Milk Street,
BOSTON.
CO.,
—
Apr.
9,
:
THE CHRONICLE.
1904.J
1413
—
Whitehall, N. ¥.— Bond Sale.— On April 1 the $25,000 i%
6-29-year (serial) refunding bonds described in V. 78, p. 1133,
were awarded to O'Connor <fc Kahler, New York City, at
Youngstown, Ohio. Bonds Authorized. The City Counon March 21 passed ordinances providing for the issuance
of $5,000 54 street-improvement bonds (being city's proportion of coat), maturing $1,000 yearly on Oct. 1 from 1906 to
1910, inclusive, and $2,500 5% viaduot and bridge bonds, maturing $250 yearly on Oat. 1 from 1905 to 1914, inclusive.
cil
101-59.
White Plains, N. T.— Bond Sate.—This village has awarded
to Isaac W. Sherrill of Ponghkeepsie the $10,000 A% 10-year
tax-deficiency bonds and the $8,000 \% 15-year fire-department bonds described in V. 78, p. 1190, at 100-02 and 100'07,
respectively.
Bond Sales.— On. April 4 the eleven issues of 5% bonds described in V. 78, p. 1190, were awarded as follows:
$10,000 b% contingent-fund bonds. Awarded to Denlson, Prior & Co.. Cleve-
Willonghby Towaship, Ohio.— Bond Offering.— Proposals
2,650
will be received until 12 m.. to-day (April 9), by C. C. Jenkins, Township Clerk, for $J1,000 4% cemetery bonds. D<?nomination, $500. Interest, semiannually at the office of
the Township Treasurer. Maturity, $2,000 each six months
from March 1, 1905, to March 1, 1909, inclusive, and $3,000
Sept 1, 1909. Accrued interest to be paid by purchaser. Certified check for $200, payable to the Township Clerk, required.
2,276
1,100
2.850
2,260
1,000
1,250
Wiltshire Township, Van Wert County, Ohio.— Bond
Sale.— On Maroh 22 this township awarded an issne of $40,000
4}£g 20-year pike honds to Rudolph Kleybolte & Co., CincinInterest, semi annual.
nati, at 101*092.
Wllmette, Cook Couatr, 111.— Bond Sale.—This village
has sold an issue of $4,000 i%i library bonds to N. W. Harris
& Co., Chicago, at par. Denomination, $500. Date, Mar. 1,
1904.
Interest, semi-*nnuftl. Maturity, $2,000 on Mar. 1,
1915, and a like amount on Mar. 1. 1916.
Bond Sate.—This city on March 25 sold an
Winston, N.
issue of $100,000 5<£ water- works, sewer and street-improvement bonds to the Wachovia Loan & Trust Co. of Winston
at 104 50. Denomination, $1,000. Date, Jan. 1, 1904. InterMaturity, Jan. 1, 1984.
est, semi-annual.
Wood County (P. O. Bowling ttreen), Ohio.— Bond Offering.—Proposals will be received until 12 M., April 28, by B.
C Harding, County Auditor for $50,000 5% ooupon Maumee
River bridge bonds, maturing $5,000 each six months from
March 1. 1913. to Sept. 1, 1917, inclusive. Danomination,
850
1,276
1,576
land and Boston, for tlO.es. SO.
Jackson Street grading bonds. Awarded to Denlson, Prior & Co.,
Cleveland and Boston, lor $2,707.
b% Garland Avenue grading bonds. Awarded to Denison, Prior & Co.,
Cleveland and Boston, for $2,822 60.
Awarded to The Lamprecht Bros. Co..
531 Fulton 8treet urndine bonds.
Cleveland, for $1,117 60.
lewer bonds. Awarded to Denlson, Prior & Co.,
6< Prospect Street
Cleveland and Boston, for $2,002 7P.
5* Clyde Street grading bonds. Awarded to Denlson, Prior & Co.,
Cleveland and Boston, for $t,203 75.
6$ Sherman 8treet grading bonds. Awarded to The Lamprecht Bros.
Co.. Cleveland, for $1,016.
5% West Lincoln Avenue sewer bonds. Awarded to The Lamprecht
Bros. Co.. Cleveland, for $1,270.
6% Lydla Street sewer bonds. Awarded to The Lamprecht Bros. Co.,
Cleveland, for $863 60.
Awarded to The Lamprecht Bros. Co.,
535 School Street sewer bonds.
Cleveland, for $1,295 40.
b% South and Marlon Avenue sewer bonds. Awarded to The Lamprecht Bros. Co., Cleveland, for $1,800 20.
t>%
The following bids were received for the $10,000 contingent
fund bonds:
Parklnsonft Burr. Boston... $10,r>is oo
Denlson, Prior * Co, Cleve,
landABoston
& Curtis. Boston ...
W.J. Hayes* Sons, Cleve...
Jackson
C—
timnprecbt Bros. Co.. Clave.. 10,507 00
Co.. Cleve. 10,456 00
B. Kleybolte & Co.. Ctncin... 10.460 00
Western German Bant, Cln.. 10,376 00
A. Kleybolte & Co., Clncln... 10,376 00
$10,637 60
10,612 60
Harden, Miller &
10,57100
Keasoneood &. Maver. Cln.... 10.MS6 «u
Onion Sav.B'k&Tr. Co.,Cin. 10,546 oe
Well, Roth A Co., Cincinnati. 10,630 00
&
est to be paid
Danieon, Prior
Co., Cleveland; the Lamprecht Bros,
Co., Cleveland; the Western Garman Bank, Cincinnati, and
Hayden, Miller
Co., Cleveland, were the only bidders for
the smaller issues of bonds.
Zinesville, Ohio.— Bond Sale.— On April 1 the $41,362 01
A.% 10-year funding bonds, described in V. 78, p.
1183, were
Mayer, Cincinnati, for $41,211 and
awarded to Seasongood
aoorued interest. Bids were also received from N. W. Harris
Co., Chicago; N. W, H*lsey
Co,, Chicago; E. H. Rollins
8ons, Chicago; Rudolph Kleyboldte
Co., Cincinnati; Ddnison, Prior
Co., Cleveland; W. J. Hayes
Sons,
to furnish blank bonds.
Cleveland; the Western
Roth & Co , Cincinnati.
Date,
$1,000.
ber
1
May
Interest,
5, 1904.
at the office of the
March
1
County Treasurer.
&
&
&
and SeptemAccrued inter-
by purchaser. Certified check for $1,000 on a
Bowling Green bsnk required. Purchaser will be required
R.
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14J4
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