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INCLUDING
Bank & Quotation Section
Railway Earnings Section
Railway 6.: Industrial Section
Bankers' Convention Section
VOL. 93.
SATURDAY, AUGUST 12 1911.
be
Thronitit.
1911.
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CHICAGO OFFICE-Pliny Bartlett,513 Monadnock Block; Tel.Harrison.4012
1A/NDON OFFICE-Edwards & Smith. 1 Drapers' Gardens, E. C.
WILLIAM B. DANA COMPANY,Publishers,
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Published every Saturday morning by WILLIAM B. DANA COMPANY,
Jacob Seibert Jr., Prelident and Tre.ts.; George S. Dana and Arnold G. Dana,
Vice-Presidents; Arnold G. Dana, Sec. Addresses of all, Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, ecc., indicates that the total
bank clearings of all clearing houses of the United States for week ending
Aug. 12 have been $2,901,631,632, against 52,988,552.570 last week and
$2,550,472,661 the corresponding week last year.
Clearings-Returns by Telegraph.
Week ending Aug. 12.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
1911.
Per
Cent.
1910.
51,443,364,370 $1,189,004,708
115,933,803
106,762,207
110,113,452
102,070,939
25,655,875
22,213,604
202,547,599
200,105,027
53,419,644
54,172,418
15,670,576
12,408,887
-------------$1,966,705,319 51,686.737,790
460,108,417
447,284,394
Seven cities, 5 days
Other cities, 5 days
Total all cities. 5 days
All cities, 1 day
52,426,813,736
474,817,946
+21.4
+8.0
+7.9
+15.5
+1.2
-1.4
+26.3
+16.6
+2.9
_
52,134,022,184 +13.7
410,450,477 +14.0
Total all cities for week
52,901.6.31,682 $2,550,472,661
+13.8
The full details for the week covered by the above will be given next Saturday. We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day of
the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday,
noon, Aug. 5, for four years.
Week ending August 5.
Clearings at
1911.
1910.
Inc. or
Dec.
1909.
1908.
New York
1,750,416,90.3 1,579,685.368
Philadelphia ......_ 148,713,342 151,382,636
Pittsburgh
47,293,257
51,462,483
28,826,850
Baltimore
36,070,463
11,193,471
Buffalo
11,362,979
Washington ____
6,668,929
6,777.120
6,284,606
Albany
6,067,528
4,238,681
Rochester
4,565,772
Scranton
2,631,539
2,713,379
Syracuse
2,622,511
2,829,903
Wheeling
1,562,682
1,510,497
Wilmington
1,615,105
1.541,326
Wilkes-Barre
1,483,320
1,421,216
1,449,999
Reading
1,378.352
1,295,528
Harrisburg
1,275,000
900.749
York
850,636
1,662,213
Trenton
1,642,434
924,768
Erie
847,785
Binghamton _ _
541,650
570,500
601,011
Chester
566,978
Greensburg
567,130
583,739
Altoona
452,258
391,329
Franklin
256,500
250,000
Lancaster
1,068,087
909,109
+11.0 2,074,475,960 1,559,512,978
133,780,707 110,677,507
+8.8
49,614,825
39,039,229
+25.1
28,317,289
23,856,254
+1.5
10,827,855
9,111.485
+1.6
6,338,807
5,126,888
-3.4
5,358,134
4,924,771
+7.7
4,887,439
3,866,948
+3.1
2,297,582
2,193.680
+7.9
2,197,086
1,964,293
-3.3
1,402,314
1,441,393
-4.6
1,485,907
1,328,496
-4.2
1,342,709
1,256,243
-4.9
1,243,812
1,063,346
-1.6
1,296,783
1,015,880
--4.9
803,558
757,119
-1.2
1,336,193
1,162,960
-8.3
848.889
604,346
+5.3
427,100
467,800
-5.7
435,578
427.437
+2.8
667,237
451,988
-12.8
357,483
329,617
-2.5
295,566
285,000
-14.9
Total Middle_ _ 2,034,727,833 1,855,209,848
Beaton
153729,295 143,078,724
Providence
7,064,400
6,930,600
Hartford
4,266,311
5,087,356
New Haven
2,663,117
3,089,111
Portland
2,185,012
2,003,660
Springfield
2,194,008
1,957,791
Worcester
2,266,288
2,217,227
Fail Elver
770,000
851.198
New Bedford _
819,391
849,466
Holyoke
618,380
519,736
Lowell
516,533
488,329
-9.7 2,330,028,247 1,770,876,224
+10.9 171,902,286 138,228,102
-1.9
7,004,900
5,789,400
+19.2
4,295,083
3,350,519
+16.0
2,861,878
2,587,233
-8.3
2,014,157
2,361,739
+12.1
1,700,000
1,580,974
+2.2
1,541,621
1,399,736
-9.4
992,317
775,466
-3.5
767,801
750,298
+19.0
480,373
448,296
+5.7
429,359
441,940
Total New Eng. 153.024.622 166,141,311 +10.2 194,337,357 157,366,121
Notc-For Canadian Clearings see "Commercial and Miscellaneous News."
NO. 2407.
Week ending August 5.
Clearings at-
PUBLISHED WEEKLY.
Electric Railway Section
State and City Section
1910.
Anc. or
I Dec.
1909.
1908.
$
$
$
$
%
Chicago
254,619,815 252,683,744 +0.8 261,329,550 210,581,898
Cincinnati
22,648,200
21,770,300 +4.0
26,944,500
22,526,750
Cleveland
18,657,866
19,804,534 -5.8
15,382,852
19,039,145
Detroit
18,069,174
16,345,151
17,485,677 +3.3
12,399,065
Milwaukee
12,578,701
11,636,763 +8.1
11,816,593
9,991,243
Indianapolis - -9.121,891
9,904,235 -8.0
8.8.55,852
7,536,023
Columbus
6,800,000
6,056,100 +12.3
7,037,700
5,078,500
4,263,705
Toledo
4,319,878 -1.3
3,711,148
3,617,196
Peoria.
2,350,883
2,740,194 -14.2
2,812,616
2,431,639
2,963,978
Grand Rapids_ 2,964,656 -0.02
2,704,077
2,109,839
2,494,840
Dayton
2,171,218 +14.9
1,876,961
1,475,208
Evansville
2,214,555
2,191,412 +1.0
2,124,163
1,726,136
Kalamazoo
606,567
582,771 +4.1
701,493
539,094
Springfield
1,037,955
1,026,642 +1.1
1,023,232
830,000
Fort Wayne _
1,141,499
1,080,417 +5.6
1,045,795
772,827
1,114,486
Youngstown - _ _
1,268,180 -12.1
891,690
539,020
Lexington
799,503
667,537 -1-19,8
646,426
550,787
South Bend
506,876 +10'.7
561,199
486,042
539,458
Quincy
626,449
576,766 +8.6
639,119
550,000
Akron
866,000 +44.3
1,250,000
625,000
550,000
Decatur
558,431
474,667 +17.7
553,379
482,162
Bloomington_ __
656,129
564,807 +16.3
516,256
442,629
Rockford
616,767 -1.5
607,619
568,917
413,826
Canton
951,286 +8.7
1,034,315
706,921
380,000
Springfield, 0_ _
543,604
449,415 +20.9
401,920
375,000
Mansfield
400,910 . 333.048 +20.4
318,054
332,795
Saginaw
795,517
666,548 +19.2
462,300
Danville
440,855
412,250 +6.8
326,729
368,545
Jackson
455,000
410,000 +11.0
302,681
343,918
Lima
390,000
316,493 +23.4
337,874
300,000
Jacksonville, IIL
342,713
329,986 +4.0
325,166
274,532
325,000
Lansing
340,000 -4.4
Ann Arbor
155,916
142,838 +9.1
172,672
123,505
Adrian
35,017
38,980 -10.2
26,348
21,828
478,552
Owensboro
391,445 +22.3
Tot. Nild.West. 371,140,844 366,742,430 -1-1.2 375,406,129 303,505,742
San Francisco.- 43,364,366
45,079,500 -3.8
34,946,244 .34,427,781
Los Angeles
18,591,895
14,137,536'+31.5
14,944,665 • 9,124,958
Seattle
8,778,228
10,100,000 -13.1
11,336,530
8,050,898
Portland
8,550,000
9,441,813 -9.4
7,359,707 '5.663,578
Spokane
4,009,526
4,227,225 -5.2
3,500,000
3.106.338
Salt Lake City
5.728,297
5,241,726 +9.3
6,641,308
5,094.139
Tacoma
3,953,295
5,610,680 -29.5
5,506,460
3.887.9
875.0
041
Oakland
3,594,995
3,016,086 +19.2
2,087,159
1,546,03
Sacramento
1,577,600 - 1t16,326 +30.8
1,162,448
San Diego
1.500,000
1,150,000 +30.4
1,087,000
788,000
Stockton
724,822
742,235
641,599 +12.9
519.882
San Jose
570,000
689,518 -17.3
547.323
507.238
Pasadena
750,000
652,513 +15.0
549,094
Fresno
593,667
572,531 +3.7
427,112
445.396
North Yakima
357,564
370,000 -3.4
222,554
284,458
_
Total Pacific- - 102,644,255 102,137,023 +0.5
92,082,258
74,300,030
Kansas City _
45,093,357
49,495.441 -8.9
35.037,437
44,597,495
Minneapolis
15,512,245
17,968,654 -13.7
15.158,671
15,812,279
Omaha
18,729,143
15,673,318 +19.5
10,777,425
12,784,534
St. Paul
9,224,968
10,953,131 -15.8
9.699,586
9,997.966
Denver
8,378,619
8,062,751 +3.9
8,380,926
9,090,156
St. Joseph
6,510,867
6,116,439 +6.4
4,735,571
4,965,183
Des Moines
3,595,410
3,728,759 -3.6
3.255,011
2,579,764
Sioux City
2,228,415
2,365,270 -5.8
2,412,526
1.869.250
Wichita
3,279,018
3,687,212 -11.1
3,208,669
1,394,255,
Duluth 2,561,191
3,043,694 -15.8
2,308,657
Lincoln
1,728,783
1,517,099 +13.9
1,208,931
1,505,633
1.693,681
Davenport
1,412,729
1,619,767 +4.6
1,067,470
Topeka
1,536,470
1,311,597 +17.1
1,468,618
1,041,240
Colorado Springs
701,481
743,560 -5.6
757,029
826,775
Cedar Rapids_ ....
1,154,969
913,459
1,052,393 +9.7
719,865
Fargo
,312
502,428
764,457 +9.3
757,617
Sioux Falls
6.418
825,000 -30.1
470,000
570,000
Pueblo
,011
551,622 +9.8
503,357
494,435'
Fremont
3,640
397,740 +14.1
403,059
366,640
Waterloo
991,478
1,004,149 -1.3
Helena
930.981
857.801 +8.5
789,912
924,504
Aberdeen
321,855
457,552 -28.7
Hastings
185,330
195,000 -5.0
Billings
145,000
200,240 -27.6
262.057
242,647
Tot. oth.West_ 126,925,672 132,592,636 -4.3 117,145,479
98,128,287.
St. Louis
66,346,578
62,158,767 +6.7
60,493,559
62,512,659
19,460,143
15,284,670 +27.3
New Orleans_ _
10,588,704.
14,032,005
Louisville
12,900,646
12,695,883 +1.6
11,579,053
13.739,797
Houston'
11,137,156
8,630,050 +29.1
9,191,786,
9,731,310
Galveston
5,191,500
5,468,000 -5.1
4.953.000,
4,363,500
Richmond
7,340,552
7,182,050 +2.2
5.313,875
6.518,824
Fort Worth
4,351,809
5,000,736 -13.0
4,680,769.
5,589.826
8,499,018 • 7.191,113 +18.2
Atlanta
3,407,924*
5,919,725
Memphis
4,411.738
3,615344 +22.0
3,268,722
4,127,139
Nashville
4,348,773
3,453,980 +25.9
3,595,407
2.894,165
Savannah
4,200,000
2,769,043
4,044,630 +3.9
2,514,137
2,722,817
Norfolk
2,730,789 -0.3
2,605.958
1,834,170
Birmingham __ _
2.146,914
'2,248,140 -.4.5
1,742,833
1,667,922
Jacksonville _
2,456.699
2,312,908 +6.2
1,483,935
1,474,359
1,636,031
Chattanooga - - 1,263,758 +29.5
1,358,488
1,289,707
1,201.377
Mobile
1,301,968 -7.7
1,293.421
1,320,809
•
1,522,620
Augusta
1,421,847 +7.1
1,145,264
1,346,467
Knoxville
1,514,402
1.509.304 +0.3
1,326,095
1,535,299
1,693,531
Little Rock
1,396,684 +21.3
1,061.518
1,586,034
Charleston
1,056,258
1,102,000 -.4.2
1.018,599
999,147
1,607,297
Oklahoma
2,113,663 -23.9
1,104,976
1,650,000
2,160,192
Macon
764,171 +181.5
514,958
'749,225
Austin
1,000,000
362,846
769,233 +30.0
566,929
Vicksburg
199,917
254,878 -21.6
270,428
248,482
Wilmington,N.C
447,102
262,063
443,423 +0.8
313,868
Jackson
301,000
301,274
340,000 -11.4
285,000
Meridian
235,000
225,000 +4.4
198,603
Tulsa
527,571 Not included in total
'
Muskogee
835.442 Not included in total
Total Southern 170,089,344 154,922,998 +9.7 148.729.568 135,367,055
2,988:5-52.570 2.777:746,2-46 +7.6 3,257,-739-,03812.539.543.063
Total all
18s12 1 Ic RA7 1 10A 111111511R--1.71-3 1 1122 9Art AOI GR2 0.11_Ait
17
•
•
P
368
THE CHRONICLE
• THE FINANCIAL SITUATION.
When the Inter-State Commerce Commission last
February rendered its memorable decisions adverse to
the contentions of the railroads,some worthy souls derived great comfort from the thought that these decisions would have at least one good effect—they would
moderate the demands of railroad labor, and ideas of
further wage increases would for a long time to come
be definitely abandoned. S me even went so far as to
argue that if the Commission had given authority to
the carriers to advance rates, the result would have
been to provoke new demands for higher wages almost immediately, and that this would have necessitated applications for further increases in rates, to be
followed in turn by another addition to wages, and
that the process might have been continued indefinitely, creating an intolerable situation. Whatever
may be thought of this view, it seemed at least reasonable to think that, with rate increases denied, an
end would be put, for the time at least, to new demands for higher pay.
We say this belief seemed reasonable, and yet it
ignored the fact that none of the recent large wage
advances was predicated upon the prospe ity of the
railroad industry, but was made entirely regardless of
railroad conditions, and was acceded to on the sole
ground that the managers of the properties wanted to
a oid the possibility of a strike. The belief referred to
also overlooked the fact that the Commerce Commission itself was a potent influence in bringing about these
wage advances, particularly those affecting large
groups of roads, since nearly all were the result of mediation or arbitration agreements under the Erdmann
Law, in which one member or another of the Commission had acted as particip nts.
Events have now demonstrated that the attitude of
railroad labor has been in no way modified. Indeed,
the fallacious mass of statistics presented by the Commission in support of its action of last February, and
which gave a ficticious picture of prosperity for the
railroads, may well have encouraged railroad employees in thinking that the carriers could readily endure further additions to wage accounts. Some roads
were obliged almost immediately to grant further wage
increases of one kind or another. The Denver & Rio
Grande and the Milwaukee & St. Paul belong in this
category, and there have been other instances of the
same kind, though a disposition has existed on the
part of railroad managers not to give prominence to
the facts, on the theory that the situation was already
bad enough and it was not good policy to make
the prospect look still more discouraging. All
these cases, however, related to isolated instances of
increase.
This week news has come of a general movement to
add to the cost of railroad labor. It covers practically the whole of the Western half of the country.
According to dispatches in the daily papers, a series of
demands from the shopworkers has been presented to
all the Western lines, the principal items in which are:
(1) A fl t increase of 15% in wages; (2) an 8-hour
day as aga nst the present 9-hour day; (3) time and
one-half for day's service after 5 p. m. and double time
after midnight; (4) piece-work premium system to be
abolished, and (5) physical examinations and personal
record requirements to be discontinued. In a letter
to the s o employees, H. J. Small, General Superintendent of Motive Power for what is known as the Pacific System of the Southern Pacific Company, states
[VoL. Lxxxxm.
that these demands would involve an increase in expenses for the shops under his jurisdiction of approximately $2,796,000 per annum, and his territory, as
already stated, embraces only part of the lines of the
Southern Pacific Company.
Mr. Small also points out that during the past five
years all of the shop crafts have been given increases
averaging 1232%,and in some cases as much as 30%,
and, furthermore, that the wages now paid in the
shops under his jurisdiction are higher than paid in
the shops of any other railroad in the United States.
In addition, the Southern Pacific Company, within
equitable limitations as to age and time of service, has
voluntarily introduced a pension system which provides every employee, on leaving the service, with a
pension for the remainder of his life. Under these circumstances the company f els compelled to deny the
requests of the men.
It is difficult to see how any other course could well
be adopted. Mr. Small did not refer to the state of the
company's revenues, but for the twelve months ending
June 30 gr s earnings of the Southern Pacific Company decreased $2,402,067, while at the same time
operating expenses and taxes increased in amount of
$2,071,339, the two together producing a loss in net for
the fiscal year in amount of $4,473,406. Julius Kruttschnit, Vice-President of the Union Pacific and
Southern Pacific companies, is quoted in the papers as
having said that the combined demands for higher
wages and better working conditions would mean an
added outlay of $7,000,000 annually to the Harriman
roads. The papers also say that for the Western
roads collectively the changes demanded would involve a drain on the treasuries of the roads to the extent of $50,000,000 a year. The announcement is
made, however, that, after a series of informal conferences between officials of the various lines, it was
determined to make no concessions, but to present a
united front in combatting these new demands—even
if the result should be a strike.
Clearly the carriers have no option but to refuse.
With business declining, with the Inter-State Commerce Commission reducing rates, instead of granting
demands for rate increases, and with expenses still
rising as the result of previous wage increases, the
roads would simply be inviting bankruptcy if they
consented to further additions to their expense accounts in the way proposed.
In view of this demand for higher pay and changes
in working conditions, together with the impaired
outlook for our growing grain crops as disclosed in
the Government monthly report issued the present
week, the continued activity of both the United States
Attorney-General and the Inter-State Commerce Commission (the former at the close of last week began an
action against the bituminous coal roads in, Ohio and
the latter has promulgated a number of ,new orders
general in character reducing rates or changing railroad
practice in such a way as to cut into revenues), the
large losses in earnings sustained by many roads during
the fiscal year which closed on June 30, and with a
number of Congressional committees all simultaneously
at work stirring up things, the serious break which
has occurred the present week in prices on the Stock
Exchange is not difficult to explain. The truth is,
previous to this break the incongruity had been presented of a substantial advance in prices continued
for a period of twelve months in face of the prevailing
unfavorable conditions. The rise was apparently the
A-uG. 12 1911.]
THE CHRONICLE
369
result of a well-meaning attempt to bring about a greater deliberation. This was out of a fear lest a
situation, acutely disturbed, might be farther aggrarevival of prosperity at all hazards.
We think it is not generally appreciated how great vated. But during the last twelve months, with the
was the upward rebound in prices beginning with course of prices apparently reflecting utter indifference
July of last year. We have referred above to the loss as to what was happening, attacks have been renewed
of $2,402,067 in gross earnings and of $4,473,406 in in every direction. If the trend of prices accurately
net earnings by the Southern Pacific Company in the portrayed the railroad status, the Inter-State Comfiscal year ended June 30 1911. Yet Southern Pacific merce Commission was justified in its contention that
shares in June this year sold at 126%, against 10331 the railroads were enjoying unwonted prosperity.
in July of last year. Union Pacific common stock Imbued with this idea, there was nothing to check its
less than a month ago sold at 192%, against 15214 in natural bent toward uprooting railroad practice and
July of last year. Here was a rise of 40 points in changing railroad methods. Attorney-General Wickface of the fact that the company's gross revenue for ersham on his part had reason to feel that his efforts
the twelve months had fallen $1,244,984 behind, to promote trade activity by putting out of business
while its expenses had increased $3,066,610, the two all the larger industrial undertakings were being duly
together causing a loss in net amount of $4,311,594. appreciated by financial interests—or at least that
Norfolk Sr Western stock in June this year sold at fears of _ill results to follow were proving groundless.
110k, against 883 in July of last year, notwith- In like manner Congress had reason to think that
standing that the company's returns for the fiscal Congressional investigations on a huge scale were conyear show that while gross revenues increased $493,- sidered active aids in quickening trade and promoting
652, or about 1%, expenses ran up in amount of confidence. So they all worked with great deter$1,911,520, leaving hence a loss in net of $1,417,868, mination and zeal along the same lines, creating a
to which was added the further sum of $201,035 condition of instability which has rarely, if ever, been
because of higher taxes, while fixed charges were also equaled in the country's history—and fley cpuld point
to the course of prices up to the first of the present
higher.
year,
this
June
in
month as evidence apparently that the whole financial
Great Northern stock sold at 140
that
of
fact
the
face
in
and
year,
business public was viewing the outlook with emiof
against 118 in July last
the company's gross earnings in the fiscal year ending nent satisfaction. Even the Supreme Court decisions,
June 30 1911 were only $61,234,191, against $64,- compelling a disintegration of the Standard Oil Com446,918 in the previous fiscal year, and the net earn- pany and the American Tobacco Company, with the
ings only $23,637,733, against $25,175,032. In this prospective addition to the list of other large industrial
case, it will be observed, a part of the loss sustained undertakings, seemed to afford no occasion for
woriment. we
or concern. In this happy view of things
in gross receipts was offset by a reduction in expenses.
might
down
no
what
along,
matter
gaily
entirely
to
shoot
cutting
a
due
to
was
bound
were
reduction
But this
of the maintenance outlays, the expenditures for main- happen.
The part played by financial interests, in attempting
tenance of way and structures in the latest year having
been only $9,666,275, against $11,780,776 in the to bring about improvement by main force as it were,
fiscal year preceding. And the record of the Great deserves to be recorded because it has often been
Northern in this respect is simply a repetition of the charged, in and out of Congress, when unfavorable
records of other roads—that is, where expenses have news had its natural concomitant in a serious break
been heavily reduced, the decrease is usually found in prices, that Wall Street was engaged in an attempt
to give the political authorities an "object lesson."
in the maintenance outlays.
In face of such a state of railroad revenues, the In this instance the natural tendency of prices to deupward course of values in the twelve months pre- cline was overcome in face of a long series of destrucceding the present break appears decidedly anoma- tive happenings. The movement was tantamount to
lous. It can only be explained on the theory that an attempt to circumvent the politicians and bring
large financial interests, thinking prices low in July about business recovery in spite of all their perverse
of last year, after eight or nine months of decline, doings, and at the same time to help the railroads
bought stocks in large amounts in order at once to through the present critical time when their borrowstern the downward tide and to promote recovery. ing capacity has been so greatly impaired and a deIt was easy enough to hold up prices and even to lift clining stock market could serve only to further add
them to a much higher plane, in face of fast develop- to their difficulties.
As the effect in the end has been to make the poliing unfavorable conditions, since the antecedent liquiSome
complete.
ng
and
wholly reckless in their course, it may well be
thorough-goi
ticians
dation had been
of these adverse developments were of such a charac- questioned whether it was not a serious mistake to
ter that under ordinary circumstances they must have let them get the impression that their doings were
played havoc with prices. But nothing more than either innocuous or else gave an actual stimulus to
a temporary set-back was permitted at any time. trade and enterprise. Now that the artificial support
This gave an artificial appearance of strength to to prices has apparently been withdrawn, it seems
prices. Latterly, however, the adverse developments obvious that the best course will be to look the
have come in such fast succession that the question situation and the facts squarely in the face iand
has arisen whether it was wise to continue the policy stop trying to deceive ourselves and the public into
of holding up prices in the vain endeavor to restore thinking that "all's well." The view here outlined
confidence when the effect seemed to be merely to was well expressed in the "Evening Sun" of last Sataccelerate the efforts of those who were doing so much urday in its usual weekly financial article, from which
we make the following excerpts:
to undermine confidence and disturb trade.
Adminthe
while
Roosevelt
After the panic of 1907,
"The transformation of the stock market this week
istration was still in power, Government assaults on which has just been noted was matched by the transcorporate interests ceased for a time, and even the formation of some current thinking about the stock
Inter-State Commerce Commission proceeded with market and its bearings. If Wall Street is to spare
370
THE CHRONICLE
itself potentialities of painful surprise, the metamorphosis should be carried further. The loose thinking
and the loose talking last May regarding the upshot
of the great Sherman law cases has been paralleled
by similar looseness of thought and talk respecting
the fate of the railroads under the manifestations of
Government regulation to which railroad managements are now being continuously treated. An increasing contraction of managerial power is being ordered by the Inter-State Commerce Commission,
while managerial responsibilities for the productiveness
of railroad capitalization are not becoming less, but
more. Indeed it is quite time for an end of the contemporary folly perpetrated daily in commission-house
literature, which describes unfavorable features of the
out ook as sentimental only, and attributes to all fundamentals, such as crops, foreign and domestic politics and the monetary and business situation, an improvement which they neither exhibit nor promise.
It is the climax of folly to dismiss the inquiries and
investigations, Congressional and judicial, which are
going on, and the passage now in one branch of Congress and now in the other of this or that bill ordering
a sweeping reduction in tariff duties, as mere "playing
politics." Playing politics it may be, but it is politics
of a dangerous sort, which owes not the least of its
danger to the chance that too many people may take
it seriously."
It seems only neceSsary to add that the one and only
ill from which the country is suffering at present is
politics. A partial crop failure is unfortunate at this
juncture, but would be of little consequence in itself
if it stood alone. As the country is possessed of such
boundless resources,it is natural to have faith in its
future and to be hopeful and optimistic. But let us
not make the mistake of thinking that progress can
be maintained while the politicians are bending all
their energies in an attempt to turn the whole industrial Wtirld upside down and inside out. The illusion
that their course is constructive or reconstructive
must be dispelled. They must be made to see that
it is just the reverse—positively,destructive.
The United States and Great Britain have a very
unusual degree of interest in the election campaign
now under way in Canada,for the predominant issue—
reciprocity with this country—vitally affects all three
nations. The suddenness of Sir Wilfred Laurier's
decision to appeal to the country and the early date
fixed for the election (Sept. 21), a year ahead of the
normal time, astonished the Dominion, and no time
has been lost in preparing for the keen contest. At
the date of dissolution the membership totaled 221,
of whom 133 were Government supporters and 88
were of the Opposition. Should the Liberals lose 25
seats, the Administration would be changed, the new
party in power, led by R. L. Borden, having a majority of 5. The Laurier strength is mainly drawn
from the territory east of Ontario. From that section
of the country there were returned 79 Liberals, as
contrasted with the Opposition's 21, whereas throughout the rest of the Dominion the representation is
equally divided, the• Opposition having 67 and the
Government 64 members. Sentiment in the United
States is confident that the veteran Prime Minister
who has guided Canada through so many centests
will again be able to steer the Ship of State 'towards
the haven of his party's desire, and that the exchange
of merchandise across our Northern border will be
placed on a more friendly basis before Christmas.
In Britain, on the other hand, there is strong antagonism to any bargaining calculated to link the
United States and Canada closer together. Imperial-
[VoL. Lxxxxzu.
ists profess to see in reciprocity a new fetter to bind
the Dominion to its ambitious and powerful neighbor,
and thus militate against the continuance of union
with the Mother Country. The issue, as we have
remarked, is of more than Canadian interest; the contest is not parochial but international in its consequences. Divorced from all political considerations,
the reciprocity treaty cannot but be regarded by every
unprejudiced mind as conducive to the prosperity of
both countries, and it is therefore extremely desirable
that the Government which has contributed to the
phenomenal growth of Canada should not be defeated
in this, its most notable effort, to upbuild the agriculture, the industry and the commerce of the country.
President Taft and Secretary of State Knox have
taken occasion to emphasize that the general arbitration treaties with Great Britain and France, now before the Senate, do not rob that body of one jot of its
Constitutional privileges. After making a special
journey of 400 miles, to Mountain Lake Park, Md.,
the President on Monday addressed the Chautauqua
of the Methodist Episcopal Church, but took occasion
to signify that his remarks were meant for the whole
people. "I observe," he said, "that there is some
suggestion that by ratifying this treaty the Senate
may in some way abdicate its function of treatymaking. I confess myself unable to perceive the substance in such a point." He urged an appeal to "the
moral sense of the nation." In course of his address
the President also dwelt upon the importance of favorable action by the Senate on the treaties with Honduras
and Nicaragua. Secretary Knox on Wednesday appeared before the Senate Committee on Foreign Relations and enumerated the advantages accruing from
the peace treaties, at the same time enlightening the
members upon the various matters which seemed to
some to diminish the power of the Senate. One point
that has been raised concerns the status of the Monroe
Doctrine, should we be bound to Britain and France
by treaties providing for the submission of disputes
to arbitration. It is understood that the President
has privately explained to Senators and others that
the Monroe Doctrine was a "policy" duly recognized
in Europe. Questions arising under it might be referred to a joint high commission as provided for in
the treaties, but would not go to a court of arbitration,
and the commission's recommendations are not necessarily binding. It is interesting to observe that President Taft had this to say in Maryland: "There are,
of course, questions of policy with respect to which
each nation must exercise its own discretion, and in
doing so is entirely within its legal and equitable right,
and however its action may affect the other nation,
it is not the proper subject of controversy. The machinery provided will practically dispose of every
question so far as it is a war-inducing issue. The
treaty may be called almost a treaty to avoid war,
but even to avoid arbitration, for it is only in the last
instance, after the commission shall have failed in a
year's time to suggest a satisfactory solution, that even
arbitration is to be resorted to."
The text of the treaties was published on Sunday,
when the Nicaraguan and Honduran agreements were
also made public. The arbitration treaties are substantially the same. Because of the great importance
of the treaties, we feel compelled to present the principal sections in full:
AUG. 12 1911.]
THE CHRONICLE
ARTICLE I.—All differences hereafter arising between the
high contracting parties which it has not been possible to
adjust by diplomacy, relating to international matters in
which the high contracting parties are concerned by virtue
of a claim of right made by one against the other under
treaty or otherwise,and which are justiciable in their nature
by reason of being susceptible of decision by the application
of the principles of law or equity, shall be submitted to the
permanent Court of Arbitration established at The Hague
by the convention of Oct. 18 1907, or to some other arbitral
tribunal, as may be decided in each case by special agreement, which special agreement shall provide for the organization of such tribunal, if necessary, define the scope of the
powers,of the arbitrators,the question or questions at issue,
and settle the terms of reference and the procedure thereunder.
The provisions of Articles 37 to 90, inclusive, of the convention for the pacific settlement of international disputes
concluded at the second peace conference at The Hague on
the 18th of October 1907,so far as applicable,and unless they
are inconsistent with or modified by the provisions of the
special agreements to be concluded in each case,and excepting
Articles 53 and 54 of such convention, shall govern the
arbitration proceedings to be taken under this treaty.
The special agreement in each case shall be made on the
part of the United States by the President of the United
States, by and with the advice of the Senate thereon, His
Majesty's Government reserving the right before concluding
a special agreement in any matter affecting the interests of a
self-governing dominion of the British Empire to obtain the
concurrence therein of the Government of that dominion.
Such agreements shall be binding when confirmed by the
two Governments by an exchange of notes.
ARTICLE II.—The high contracting parties further agree
to institute, as occasion arises and as hereinafter provided,
a • joint high commission of inquiry tO which, upon the
request of either party, shall be referred for impartial and
conscientious investigation any controversy between the
parties within the scope of Article I. before such controversy
has been submitted to arbitration and also any other controversy hereafter arising between them even if they are not
agreed that it falls within the scope of Article I.; provided,
however, that such reference may be postponed until the
expiration of one year after the date of the formal request
therefor in order to afford n opportunity for diplomatic
discusion and adjustment Of the questions in controversy if
either( party desires such postponement.
Whenever a question or matter of difference is referred to
the joint high comtnission of inquiry as herein provided,each
of the high contracting parties shall designate three of its
nationals to act as members of the committee of inquiry for
the purpose of such reference; or the commission may be
otherwise constituted in any particular case by the terms
of reference, the membership of the commission and the
terms of reference to be determined in each case by an
exchange of notes.
The provisions of Articles 9 to 36, inclusive, of the convention for the pacific settlement of international disputes,
concluded at The Hague on the 18th of October 1907, so far
as applicable, and unless they are inconsistent with the
provisions of this treaty or are modified by the terms of
reference agreed upon in any particular case, shall govern the
organization and procedure of the commission.
ARTICLE III.—The joint high commission of inquiry
constituted in each case, as provided for in Article H., is
authorized to examine into and report upon the particular
questions or matters referre0 to it for the purpose of facilitating the solution of disputes by elucidating the facts and to
define the issues presented by such questions and also to include in its report such recommendations and conclusions
appropriate.
as may
The reports of the commission shall not be regarded as
decisions of the questions or matters so submitted,either on
the facts or on the law, and shall in no way have the character
of an arbitral award.
It is further agreed, however, that in cases in which the
parties disagree as to whether or not a difference is subject
to arbitration undor Article I. of the treaty, that,question
shall be submitted to the joint high commission of inquiry;
and if all or all but one of the members of the commission
agiee and report that such difference is within the scope of
Article I. it shall be referred to arbitration in accordance
with the provisions of the treaty.
ARTICLE VII.—The present treaty shall be ratified by
the President of the United States of America, by and with
371
the advice and consent of..the Senate thereof, and by His
Britannic Majesty. The ratifications shall be exchanged at
Washington as soon as possible and the treaty shall take
effect on the date of the exchange of its ratifications. It
shall thereafter remain in force continuously unless and
until terminated by twenty-four months' written notice
given by either high contracting party to the other.
The most famous officer of the Japanese Navy,Admiral Count Togo, who was the Emperor's representative at the coronation of King George V, has for the
last week been the guest of the American Government,
and President Taft, full of his noble purpose of bringing the nations together in a bond of peace, took the
happy opportunity presented by an elaborate official
dinner tendered the visitor last Saturday at the White
House to invite Japan to join Britain and France in
entering into a general arbitration treaty with this
country. The distinguished victor of the battle of the
Sea of Japan had previously been received with every
demonstration of cordiality in New York, where he
exchanged visits with the Mayor, and he had expressed
deep appreciation of the honors shown him. It is to
be presumed, therefore, that he was in a fit frame of
mind to receive the words of invitation which, with
great solemnity, fell from President Taft's lips. The
President said:
"Admiral Togo, I would indeed fail in my duty. and
be untrue to my own deepest convictions did I not
take this occasion of the first public welcome to you
as our national guest to express my own appreciation,
people, of the broad and
and that of the American people
the Emperor'
humanitarian view taken by His
of Japan and the Imperial Japanese Government in so
readily and generously affirming, in the most positive
and solemn manner, that no consideration of selfish
interest should be permitted to obstruct the progress
of the great world-movement for international.,peace
as exemplified in the general treaties of arbitration
bettveen the United States, Great Britain and France,
signed on the day of yotir arrival in this country. I
gladly acknowledge this important part which Japan
has played in facilitating this noble achievement by its
prompt and unreserved recognition, in the recent
Anglo-Japanese agreement, of the great moral principle
of arbitration, and I entertain the hope, with confidence, that the time may be not far distant when
Japan will 'see fit to join in the movement now so
auspiciously inaugurated."
Japan, it might be explained, readily consented to
modifications in her treaty with Britain so as to enable
that country to early out the peace pact with the
United States, and some time ago the Japanese Ambassador at Washington inquired of Secretary Knox
the purport of the new departure in international relations, though no request for a tentative draft of the
proposed treaty followed. It is now hoped and believed that the earnest appeal of President Taft to the
Japanese Emperor will not be ignored.
The Veto Bill, after arousing more political passion
than any other measure introduced in the British Parliament in modern times, and threatening to create a
lasting schism in the Unionist-Conservative ranks, was
finallyAccepted, by the House of Lords on Thursday
evring by a VptC of 131 to 114, thus obviating the distasteful alternative----distasteful alike to the Administration and the Opposition—of creating an unprecedented number of new Peers for the express purpose of
forcing the Bill through the Chamber. The issue was
much in doubt even up to the hour of voting, and intense, though controlled, excitement prevailed in
Westminster.
372
THE CHRONICLE
The House of Commons had already rejected, by a
majority of 119, Mr. Balfour's vote of censure of the
Government for their "gross violation of Constitutional
liberty" in obtaining from the King a promise to create a sufficient number of Peers to pass the bill. The
House of Lords, on the other hand, endorsed a similar
motion, submitted by Lord Curzon, by 282 to 68
votes.
The Government, in taking up the Lord's amendments, showed a desire to go some way towards meeting the Opposition. Home Secretary Churchill stated
that the Government had concluded that, in order to
lighten the burden of the Speaker in deciding if bills
were purely financial measures or not, he should consult the Chairman of the Committee on Ways and
Means and the Chairman of the Committee on Public
Accounts. Amendments would also be adopted providing for the exclusion of provisional order bills from
the terms "public bills," and a new clause added stipulating that no extension of the duration of the life of a
Parliament beyond the prescribed five years could be
made. The Labor Party, however, induced the Mmsisters to accept a modification of their proposal concerning the action to be taken by the Speaker, the final
arrangement being that that official, in deciding what
constitutes a money bill, shall consult two members
appointed from the panel of chairmen. Mr. Churchill
moved the rejection of Lord Lansdowne's amendment
excluding Home Rule from the scope of the bill, and,
after a spirited debate, during which Mr. Balfour referred to the "criminal advice" given the Sovereign,
the amendment was defeated by 321 to 215.
Thereafter all interest was transferred to the Upper
Chamber. Thursday's vital session drew the greatest
gathering of Peers witnessed in many Parliaments,
while all available space was crowded by Peeresses,
Privy Councillors, Ambassadors, Members of Parliament, &c. They had assembled, it was aptly 'remarked, to see the ancient House of Lords "drink the
hemlock." And drink it did. Viscount Morley had
warned the House that every vote against his motion
not to insist upon the amendments was a vote in favor of a large and prompt creation of Peers. Lord
Rosebery admitted that the bill must pass, but he
trenchantly denounced the Government for having
gone to "a young and inexperienced King, not yet five
months upon the Throne, to ask for guaranties to pass
a bill that had not even passed its first reading in the
House of Commons." The holders of the highest
titles in Great Britain were arrayed against the Government when the vote was taken, among the number
being the Dukes of Norfolk, Leeds, Marlborough, Newcastle, Northumberland, Somerset and Westminster,
while the other Dukes did not vote. By the narrow
majority of 17, the Lords acquiesced in the will of the
people as represented by the dominating party in the
House of Commons,and thus has ended,for the present
at least, the great Constitutional struggle which will
place the Government of the British Empire upon a
new and more radical basis. The avowed intention of
the Unionists is to undo what has been done whenever
the electorate return them to power.
The Port of London has been visited with a strike
fever so quick to break out in new spots that traffic
has been seriously interrupted and the supply of provisions curtailed to such an extent that there have
been grave fears of a famine, though yesterday afternoon the Government announced that it had taken all
neeesary provisions to safeguard London's food sup-
[VOL.
ply in any event. The trouble appears to be an
aftermath of the seamen's strike. It will be recollected
that after the seagoing workers were placated, dock
laborers made demands for concessions similar to those
granted the seamen. This disturbance was also overcome at the principal British ports. But the taste of
success enjoyed by these classes had an intoxicating
effect, first upon other workers at the docks and later
upon carters, coal porters, railway freight handlers,
and so on. The situation became more alarming as
the week progressed, notwithstanding that several
groups of workers were conceded all they demanded.
They simply refused to resume work until other
strikers, with whom they had no connection whatever,
were satisfied. Never before had the vicious policy of
the so-called "sympathetic strike" been carried to such
lengths. Employers were helpless, for obviously railway companies could settle only with their own employees and were powerless to effect an agreement with
other classes of men; so the situation was not relieved
at all. So grave did the position become that prices
of provisions rose to abnormal heights, and the city's
supply was rapidly being eaten up.
Meanwhile, no beef, fruit or other edibles could be
imported, owing to the complete deadlock. The police
had their hands full in preserving order. By Thursday the blockade had become extremely alarming, and
the Government made extensive preparations to send
troops to the Metropolis on a moment's notice to
quell the riots that were feared. The danger of starvation daily increased. The port was idle—the Thames
was described as quieter than a country stream, save
for occasional sounds from pleasure boats.
Most of the dock work in London is controlled by the
Port of London Authority, a consolidation of the old
dock companies and river authorities. But,as already
stated, various trades have stopped work in order to
take advantage of the present opportunity to wring
higher wages and shorter hours from employers. The
Board of Trade took up the situation and on Thursday
night a prolonged session was held with a view to
bringing the different factions to terms. Yesterday
it was announced that a speedy settlement of all disputes seemed assured. The episode has aroused public opinion to the necessity for taking all possible steps
to prevent the recurrence of troubles that might lead
to the starvation of the inhabitants of the Metropolis
and the unreasonable brow-beating of employers into
granting ruinous demands. Legislation is clamored
for, but it is well to keep in mind that organized labor
is now a power in Parliament, and that it is being catered to as never before in British history by the present Chancellor of the Exchequer, David Lloyd-George.
In one sense, the authorities are only reaping what
they have so light-heartedly sown.
The commercial failures exhibit for the United States
for July 1911, as compiled by Messrs. R. G. Dun & Co.,
is on the whole a comparatively favorable one, the
further contraction in liabilities as contrasted with
preceding months of the current caletular year being
an encouraging feature. It is to be noted, moreover,
that the aggregate indebtedness reported for July this
year, while greater than in 1909, is less than for the
same month of either 1910, 1908 or 1907. In a few of
the larger industries that go to make up the various
divisions into which the failures are grouped, the liabilities this year are appreciably greater than a year
ago; these however, are offset by important declinesin
other lines. This is particularly true in the manufac-
AUG. 1:2 1911.]
THE CHRONICLE
turing division, woolens, carpets and knit goods and
leather, shoes and harness showing greatly increased
indebtedness, while iron, foundries and nails, machinery and tools, lumber, carpenters and coopers, clothing and millinery and liquors and tobacco record a
more than counterbalancing diminution. Accordingly,
the aggregate indebtedness in that division reaches only
$5,990,915, against $7,732,411 in 1910.
The grand aggregate of failed liabilities for July 1911
reaches $12,150,070, comparing with $13,790,753 in
1910 and $9,527,893 in 1909. The result for the seven
months since Jan. 1 is more satisfactory than for the
period a year ago, the indebtedness aggregating only
$115,848,421, against $126,030,139. The 1909 total,
however, was but $98,099,266.
The situation as regards failures in the Dominion of
Canada in July was less favorable than for the same
month of either of the three previous years, two large
insolvencies, one a manufacturer in Manitoba and
the other a trader in Quebec, being largely responsible.
The aggregate debt reported in all branches of business
was $1,557,398, representing 100 disasters, this Comparing with $802,566 and 104 in 1910 and $985,997
and 121 in 1909. For the seven months the exhibit
is much more satisfactory than in any recent year, the
number of defaults having been 761 for only $8,050,134, against 763 for $10,555,107 in 1910 and $82 for
$8,615,256 in 1909.
The Fall River cotton mills dividend record for the
third quarter of 1911 reflects much more clearly than
did the results for earlier periods of the year the recent
unsatisfactory situation of the cotton-manufacturing
industry of the United States. Not only has the raw
material ruled high in cost for some months past until
the last few weeks, but demand for goods even at the
relatively low level of value has been insufficient to
fully absorb current reduced production. Naturally,
therefore, the earning power of the mills has been restricted to a notable extent—greater, in fact, than this
latest distribution to stockholders indicates.
Pursuing a conservative policy, many corporations
pay a stated dividend per quarter, whether earned or
not, being able to do so from surpluses accumulated
when business was very good. But some of these
corporations have now reached a point where the rate
has had to be cut. Our compilation, which covers
36 corporations in all, shows that 8 have passed their
dividends for the third quarter and that 13 have reduced the rate. The aggregate amount actually to
be paid out to stockholders for the third quarter of
1911 is only $309,617, or an average of 1.11% on the
investment; this comparing with $435,150, or 1.64%
in 1910 and $411,125, or 1.61% in 1909, and is, moreover, the lowest rate since 1905-0.99%. For the
nine months of the current year the average distribution of 3.94% contrasts with 5.23% for the like interval of the previous year and 5.85% in 1909. The
highest nine-months rate in our record is the 7.27%
of 1907 and the lowest the 1.33% of 1898.
The upward movement of last week in discounts was
not carried further in London during the current week,
but at Berlin the rate has gone to 3% as a minimum.
Though the weekly bank statement was not quite so
favorable, the tone in London has since been easier.
Discounts are now quoted at 2 7-16% to 2% for
60-day and 2 11-16% to 29t%for 90-day bills to arrive,
while the spot figures are virtually on the same level.
Paris remains at 23%, notwithstanding the almost
373
continuous decrease in the supply of gold held by the
Bank of France. Thursday's statement showed a loss
of gold and silver to the amount of $1,620,000, but
note circulation, following the monthly settlements of
the previous week, was curtailed by almost $30,000,000
and bills discounted decreased no less than $48,000,000.
In Germany the central bank was also able to report
a decrease in liabilities, yet the rate for accepting spot
bills arose from 29% a week ago to 3% and bills to
arrive are not negotiable under 334%. The Reichsbank succeeded in adding a small amount to its gold
on hand, reduced its note circulation by $15,000,000,
its loans by $6,450,000 and its discounts by $13,300,000. There was quite a change at Brussels; the rate
there is now 3%, as compared with only 2H% last
week. At Amsterdam the tone has also been firmer,
the rate being now 2%%.
The Bank of England was allowed to take all the
£650,000 new gold offered in the open market on
Tuesday—Monday was a bank holiday. Yet the
bullion account was on Thursday reported to have
fallen off £485,428 and circulation increased to such an
extent that the shrinkage in total reserve reached
£716,000. Loans were paid off to the amount of
£189,000, and as ordinary deposits decreased £590,000
and Government deposits £319,000, the ratio of reserve
to liabilities declined only from 54.51% last week to
54.09% this week. This is the largest percentage
shown at this season in any recent year, while the total
stock of bullion, £39,674,922, according to the figures
cabled to us by our special London correspondent, is
also exceptionally large for the second week of August.
The Bank is finding no difficulty in maintaining its
3% minimum rate, nor is any change looked for in the
near future. The British trade returns for July show
that commerce is still very prosperous, and in view of
this, together with the peculiarly unsettled foreign and
domestic political situations, the strong position now
held by the Bank of England is gratifying. Our special
correspondent also furnishes the following details of
the movements into and out of the Bank for the Bank
week: Imports, £750,000 (of which £13,000 from
France,£10,000 from Germany,£6,000 from Australia
and £721,000 bought in the open market); exports,
£210,000 (of which £10,000 to Belgium and £200,000
to Turkey), and shipments of £1,025,000 net to the.
interior of Great Britain.
Interest and discount rates in New York were marked
up to 4% and WI @4M%,respectively,for six months'
maturities early this week, but during the last two or
three days the tone has weakened, partly on account
of the drastic liquidation on the Stock Exchange.
Bankers were much puzzled by the extensive lending
of four months' money by one of the three leading
international banking houses in the United States.
Banks had been asking 391% for December maturities,
but this money was put out at the uniform rate of
332%, and was in sufficient volume to take care of all
the demands of the first half of the week. The inlet
ence drawn by money brokers was that the firm referred to does not propose to carry on active operations
during the balance of 1911. Such an assumption
may not be justified, for the funds may have simply
been thus employed at the request of a wealthy client.
The principal demand has not been for either December loans or the regular six months' period, but for
January. At one time higher than 4% was asked for
five months' rates, but there were lenders at 4% on
high-grade collateral, although some transactions were
374
THE CHRONICLE
recorded at 43.% where the security offered was exclusively industrial.
The precipitate decline in stocks was not without
an influence upon the money market. As long as
:securities were moving upwards sentiment was fairly
,cheerful in regard both to speculation and trade, but
the collapse brought out a flood of pessimistic reports.
,•Great attention was paid to the unreasonable hostility manifested by Government officials towards
toorporations, the threatened strike of railroad emplOyees came to the front, the. difficulties encountered
by the two industrial organizations ordered to dissolve were dwelt upon,the tariff deliberations at Washington had an unsettling effect and the deduction was
widely drawn that no real betterment in general trade
conditions could be reasonably expected for some time.
Speculative as well as mercantile demands for facilities
naturally decreased. Collateral loans were offered
at 4% for over-the-year, and in certain cases concessions were granted, while discounts also became a
shade easier. It was recalled that last Saturday's
bank statement had shown an actual decrease in loans
for all members of the Clearing House of $20,405,000,
while the banks alone added $4,207,750 to their actual
surplus reserve. Moreover, London resumed the acceptance of finance bills in moderate quantity, and
demand sterling fell on Friday to 4 85%, a new low
figure for the present season and within 1c. per pound
of the gold-import level. As, however, agricultural
requirements will shortly have, to be met, it is not
logical to expect a recession in money rates. The effect of a marked recovery in stocks would probably
be considerable.
Thc,;detailed range for time money at the close of
% to 3% for 60 days, 33 to
the week is as follows: 23
33/8% for 90 days, 33' to 33(% for four months and
3% to 4% for five and si3c months. Call money
claily ruled at 2/3%, with 2%% the invariable maximum and 23% the minimum until yesterday,when the
range was 2% to 2/3%, with the final loan made at
2/3%. The small supplies of 60 to 90 days' endorsed
bills receivable are quoted at 3% to 43%,while four to
six months' single-name bills of the best quality are
usually placed at 4%,though the range is nominally
4 to 414%. The market is well supplied with bills
offered to yield 49 to 5%. The absorption is not
quite so good as it was earlier in the month, but the
output has ceased to expand at the rate witnessed
in July.
[VOL. LxKidgiff.
made after the break of from 10 to 15 points in the
stocks enjoying an active‘international market.
This movement, as already stated, had its effect
upon exchange. Until Wednesday demand sterling
had not sold below 4 86, but on that day a lower
figure was recorded. The supply of exchange from
other• quarters has also undergone a seasonable increase. Gtain bills are coming forward in considerable
volume, and as the world's harvests, taken as a whole,
appear to be below normal, the propects are that there
will continue to be a keen export inquiry for our
cereals. The early arrivals of cotton bills have also been
only moderately heavy; indeed, fewer have been noted
this week than were in evidence last week; but as September approaches,the inflow cannot fail to be greatly
augmented, especially as the price has fallen so drastically—to below 11%c. per pound for certain options.
Finance bills have again been resorted to now that the
London discount rate has ceased to advance. But,
as one veteran exchange banker asked, "What is the
use of bringing money here? Call money can be
borrowed in unlimited amount at 2M@23/8%." This
authority, in discussing the possibility of a further
fall in sterling and the consequent question of gold
imports, said that, so far as could be gathered, London
was not friendly disposed to exports of the metal to
this centre. Although a rate of 4 85 for demand
should normally bring over gold, he expressed the
opinion that the selling price of the metal would in all
probability be marked up by the Bank of England.
It might here be added that the stream of gold from
the Witwatersrand Reef is constantly broadening.
The output during July reached the unparalleled total
of 709,258 ounces, an increase of 24,691 ounces over
June and of 23,307 ounces over the previous best
yield of 685,951 ounces, in May of this year. The
attainment of the 700 006-Mark has no doubt been
enthusiastically celebrated in Johannesburg, rkvIl'ere
there are plenty of entliUsiasts who confidently pkedict
a monthly production of a million ounces in the not
remote future.
Compared with Friday of last week,sterling exchange
on Saturday was unchanged, with demand still quoted
at 4 8605()4 8610, cable transfers at 4 8635@4 8640
and sixty days at 4 8390@4 84. Rates declined quite
sharply on Monday forenoon, with very little business
transacted; later in the day the tone was somewhat
firmer, with the final range at 4 86@4 8605 for
demand, 4 8625@4 8630 for cable transfers and
4 8375@4 8385 for sixty days. There was no change
in demand and cable transfers on Tuesday; sixty days
fell to 4 8365@4 8375. Demand declined on Wednesday to 4 8595@4 86 and sixty days to 4 8360@
4 8370; cable transfers were unchanged at 4 8625@
4 8630. There was a fall to a new low point for the
current movement on Thursday, due in part to heavy
buying of American stocks abroad; demand went
to 4 8585@4 8590 and cable transfers t91,14 8615@
4 8620; sixty days, however, was unchanged. On
Friday demand sagged to 4 85% and cable transfers to
4 86, but there was a slight recovery later, and the
market closed at 4 8350@4 8360 for 60 days, 4 8580@
4 8585 for demand and 4 8610@4 8615 for cables.
Commercial on banks was quoted at 4 829.@4 833-i
and documents for payment 4 83@4 83%. Cotton for
payment ranged from 4 83(44 833., grain for payment
from 4 833.@4 833/8.
European investors,instead of having been frightened
into selling American stocks by the demoralizing slump
in quotations, have been purchasers, and the output
of bills on that account has depressed foreign exchange
rates to the lowest level of the second half of the year.
On Thursday demand sterling declined to 4 85% and
cable transfers to 4 863/8, while yesterday the sagging
tendency was again in evidence, sight drafts touching
a minimum of 4 85%. Firms which have influential
affiliations abroad state that they have filled quite a
number of orders for our shares since prices fell last
week. When, on activity that culminated in sales of
fully one million shares on the Stock Exchange on
Thursday, quotations broke to the lowest point since
the early part of the year, Europeans placed very important commissions on the buying side. Before our
market gave way, when the average quotation was
moving to the highest pinnacle in more than twelve
months, foreign holders were liquidating quietly, but
The following gives the week's movement of money
insistently; then, with that acumen for which European
banks.
Operators have earned a reputation, purchases were to and from the interior by the New York
AUG. 12 1911.]
THE CHRONICLE
375
against the protest of Ministerial members of the
Upper
House,passed a Veto Bill with these amendments,
$9,567,000
$2,771,000 Gain $6,796,000
1,147,000 Gain
2,016,000
869,000
and
Lord
Lansdowne, the Opposition leader in the
1
Total gold and legal tenders
$11,583,0001 $3,918,000,Gain
$7,665,000
Lords, declared that some of the amendments were
1
With the Sub-Treasury operations the result is as "so essential that we should certainly not be prepared
follows.
to recede from them as long as we remain free agents."
_
This declaration might on its face have meant that
Out of
Into
Net Chanie in
Week ending Aug. 11 1911.
Banks.
Banks. •
Bank Holdings.
the present peers would under no circumstances adopt
Banks' interior movement, as above_ $11,583,000
$3,918,000 Gain $7,665,000 the
Veto Bill without their own amendments;but it was
Sub-Treasury operations
22,019,000
24,567,000 Loss 2.548,000
Total gold and legal tenders
$33,602,000 $28,485,0001Gain $5,117,000 commonly accepted as meaning that a threat of creating enough new Peers to force the measure through
The following table indicates the amount of bullion the
Lords would establish a situation in which members
in the principal European banks.
of the Upper House were no longer free agents. On
Aug. 10 1911.
the other hand, the aged Lord Halsbury vehemently
Aug. 111910.
Banks of
G&W. 1 Silver.j Total. I
Gold. ......1 Silver.
declared for "opposition to the last ditch," and his
Total.
-England_ _ 39,674,922!
1 39,674,922! 39,382,894
39,382,894 recommendations were received with enthusiasm
France _ - 126,944,960, 33.825,480,160,770,440 135,715,120 34,000,000 169,715,120
—
Germany _ 43,470.100 14,303.1501 57,773,250. 38,230,200; 14,084,350 52,314,550
Russia _ _ 145,062,000 7,727,000,152,789,000 141,317,000; 8,661 000 149,978,000 which, however, was not generally assumed to mean
Aus.-[fun 55,775,000 12,408.0001 68,183,000; 55,302,000 12,813,000 68,115,000
Spain ..._ _ 16,599,000 31,156,000, 47,755,000 16.303,000 30,932,000 47,235.000 that the actual vote would be along those lines.
Italy - - - - 40.005,000 3,507.000 43.512.000 38,800,000, 3,703,000 42,503,000
Neth lands 11,736,000 1,682,700 13,418.700 9,255,000' 1,962 800
Qn July 24 came the extraordinary scene in the
Nat.Belg._ 6,803.333 3,401,667 10,205,000 5,200,6671 2,600,333 11,217,800
7,801,000
Sweden _ 4,733,000
4,733,000 4,448,000,
House
of Commons, when the Premier rose to reply
4,448,000
Switeland 6,376,000
6,376,000 6,101,000,
6,101,000
Norway -- 2,288.000
2,288,000 1,974,0001
1,974,000 to the House of Lords and was refused a hearing by
Total week 499,467,315 108,010,997 607,478,312492.028,881108,756.483600,785,364
Prey.week 499,983,647 103,807,753 808,791,400 491,851,697 109,991,230 601,842,927 the Opposition. His undelivered speech, published
in the newspapers, declared the Ministry's absolute
unwillingness to accept the Lords' amendments, and
flatly asserted that the authority to create the necesTHE HOUSE OF LORDS.
sary number of new Peers had been obtained from the
By a vote of 131 to 114 on Thursday night the Crown. Last Monday
Mr. Balfour, the Opposition
British House of Lords surrendered to the Asquith leader, moved in the Commons
a resolution to the
Ministry and the House of Commons' majority in the effect that the Ministry's
requirement of the King's
matter of removing from the second chamber the right pledge to create enough
new Peers to swamp the
of finally blockading, by an adverse vote, measures Opposition majority was "a gross
violation of Constiof any legislation which had three times passed the tutional liberty, by which, among
other ill conseCommons. This acceptance of the Commons' "Veto quences, the people will be precluded
from again proBill" marks a change of far-reaching and fundamental nouncing upon the policy of
Home Rule." Mr.
importance in the British, Constitution. Its effect on Asquith replied
by reaffirming the purpose of the
the future of Parliamentary legislation, and indeed Ministry, and Winston CAurchill,
also speaking for
on the question of single or double chamber legisla- the Ministry, closed
the debate by these words: "It
tures in all other governments which have copied, in is said that the Government
is going to pass the Home
greater or less degree, the system which England was Rule Bill at this
session of Parliament. So we are."
the first to introduce in history, are now matters of In the end the
Balfour resolution of censure was reserious conjecture. It i to be observed, as a matter jected in the
Commons by a vote of 365 to 246—the
of historical record, that the assent of the Peers to this normal party
vote. Thursday's vote of the House of
long political step in the dark was given unwillingly Lords came next.
and under duress. The majority was obtained by the
The whole of the Parliamentary proceedings, and
vote for the bill by twenty or thirty Conservative the discussion of those proceedings
among the public at
members of the House of Lords who had recorded large, has reflected the intensity
of feeling which the
their opinion against it, but who had to choose between discussion has created among
the English people.
assent by the presen body and dissent which the The central point of the whole
matter was indicated
Ministry would have met by creating enough new in Mr. Balfour's reference
to the Home Rule Bill, and
Peers to make certain a majority for the bill.
in his further flat assertion that the Irish faction in
The real situation cannot be understood except by Parliament was in absolute control
of the Ministry's
reviewing the history of the present crisis. It was a policy. Of this there is
no doubt. The balance of
sequel to tile non-concurrence of the Lords in tile power in the Commons is held
to-day by the small but
Asquith Budget of 1909, resulting in an appeal to the compactly-organized
Irish representation. It has
electors in which the Asquith Ministry was returned to been well understood that
their policy was to cripple
power. The Budget was accepted, but the question the powers of the House of
Lords,who would otherwise
of the powers of the Peers themselves came promptly probably veto a Home Rule Bill,
and at the same time
into legislation. The House of Commons passed by to prevent a general
election squarely on the question
large majorities a bill removing from the Lords the of Irish Home Rule.
If the Asquith Ministry were to
power of vetoing a House of Commons measure, except waver in their peremptory measures against
the power
to the extent that measures in which the Upper House of the Lords, the Irish faction has the power
easily to
failed to concur (financial measures excepted) would throw out the Ministry. But this would obviously
thereby be deferred from enactment until passed in be done on some other question than Home Rule,
so
two succeeding sessions by the Commons. The Lords that if a general election were to follow, it would
amended this bill, chiefly in the line of providing com- again be on such lines as would prevent
the people's free
mittees to determine what bills were properly financial expression of opinion in that question. But insistence
measures and what were not. On July 20 the Lords, on such a Parliamentary policy—always supposing
that
Week ending Aug. 11 1911.
Currency
Gold
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
376
THE CHRONICLE
no sweeping change in party majorities would follow—
could have no other result than to stop the wheels of
government.
The reason why it was taken for granted, from the
time of Lord Landsdowne's speech on July 20, that the
peers would not resist the full demands of the Asquith
Ministry, was that such resistance could not possibly
remedy the situation, but would almost certainly
make it worse. There can be no doubt that the
threatened creation of five hundred new peers, in order
to reverse the Unionist majority in the Lords, would
be surrounded with absurdities. Questions such as
the finding of candidates for the peerage with character
and means to support the title, of maintaining the
House of Commons majority if members were transferred from there to the other House, and of satisfying
the existing Liberal peers at a time when such huge
additions to the peerage were contemplated, must
have been embarrassing and to a great extent ludicrous. But as against these considerations stood the
fact that the Ministry had the weapon in its hands by
which to gain its immediate ends. Since, therefore,
the same result would ensue with or without the
acceptance of the Ministry's bill by the Lords, the only
tangible result of refusing such acceptance would be
to submit to a plan which must make the peerage itself
ridiculous. For not only would the affirmative vote
on this question be forced in the Lords through
creation of new peers, but even a subsequent Unionist
victory might easily force the party to resort to the
same expedient, with the ultimate result that the
peerage, as the Archbishop of Canterbury affirmed,
would become the laughing-stock of the entire country,
losing, not only its political power, but the ordinary
respect granted to it as an institution.
It is impossible for the fair-minded foreign critic to
deny that this situation is in all respects unfortunate—
not less so when it is clearly, even if not technically,
designed to prevent a full and fair expression of opinion
by the voting constituency on the Home Rule question
itself. What is to be the practical result? Following
the acceptance by the Lords of the Veto Bill of the
Commons, the Home Rule Bill will be quickly proposed, passed in the Commons and rejected by the
Lords. It would not in such case become a law, since
even the Veto Bill enables the Lords to block any
measure of the sort in two successive sessions before
that veto will become non-operative.
It might, therefore, easily be two years before the
Home Rule measure passes finally into law. There
are always political possibilities of high importance in
a period of that length. Perhaps, in the normal course
of politics, the most desirable result would be a Unionist victory in the House on some other question than
the Home Rule measure, then the defeat of that new
Ministry on the Home Rule issue itself, and a resort
to the country on that question exclusively. This
would at least remove the anomaly of the present
situation, whereby the Home Rule measure promises
to become a law while submission of the question to the
people is being absolutely refused. This refusal, direct
or indirect, is the real violation of Constitutional
principles in this extraordinary episode; it explains
why even unbiassed critics are not willing to accept
as a full and honest precedent the forcing of the Reform
bill of 1832 through the House of Lords by a similar
threat of new peers, and it explains the bitter feeling
Lxxxxiii.
which the successive stages of the controversy have
engendered.
The larger question which remains, and which is not
at all settled by the Veto Bill itself, is the function
of the Upper House and its future part in English
legislation. The Veto Bill is in that regard entirely
unsatisfactory—first, because there is left no longer
co-operation of two houses in legislation, but only
temporary obstruction of one by the other; second,
because even if that objectionable situation did not
exist, the bill makes no attempt to remove the abuses
and anachronisms in the membership of the House
of Lords itself—evils which have been recognized even
by peers like Rosebery and Landsdowne. The
question of a second chamber, therefore, remains for
settlement, and some serious grappling with the
problem will probably be found even more imperative
after the recent episodes than it was before them.
It is impossible to ignore the fact that, in endeavoring to solve this very serious question, the Unionists in
the House of Lords have not only taken the lead, but
have stood almost alone in the attempt. The Asquith
Ministry has, without reasonable question, been deliberately ignoring this phase of the Constitutional question,
while converging all its attention on the political
manoeuvres requisite to pass the Home Rule Bill and
to sustain itself in power through conciliating the
Irish faction. Under such circumstances it is clearly
impossible to say what the future of the question is to
be until the clouds and confusion which have surrounded the recent chapters of the Parliamentary
struggle blow away. What Americans will be apt to
remark is that all of the incidents which we have
described are convincing evidence of the value, in a
period of shifting political ideas and social unrest, of a
written constitution, with carefully prescribed and
balanced powers between the two houses of legislation
and the three departments of government, such as
our own country has possessed and utilized, to the
benefit of all classes in the country, for the century
and a quarter past.
THE STEEL INVESTIGATION AND THE
TENNESSEE COAL PURCHASE.
If there is one act in the administration of former
President Roosevelt that is creditable to him, it is
his course at the time of the 1907 panic in permitting
the absorption of the Tennessee Coal Iron Sr RR.Co.by
the United States Steel Corporation. The panic was
really the work of Mr. Roosevelt himself, or,rather, it
followed as a result of the destructive policy pursued
by his administration, thereby completely undermining confidence in the integrity and stability of
business enterprises, and particularly those of large
magnitude. Our defective currency system undoubtedly aggravated the effects of the panic and made it
difficult to deal with it and to take effective measures
to prevent its spread. But the primary cause of the
trouble was that two years' continuous decline in
security values, eventuating in complete collapse of
prices on the Stock Exchange (and being indicative in
this of how utterly confidence in both railroad properties and in industrial concerns had been shattered)
had destroyed the basis of both credit and values. No
one could tell what a property or a security might be
worth under the new condition of things as to railroad
and industrial undertakings that threatened.
AUG. 12 lilt 1,1
THE CHRONICLE
Mr. Roosevelt was slow to appreciate the extent
of the injury done, but when the panic was actually
under way and spreading, like a fire, with amazing
rapidity, threatening general ruin, he brought into
play all the resources at his command for checking its
headway and to stamp it out. The vitalizing of
Tennessee Coal Iron & RR.stock by exchanging it for
Steel Corporation bonds was one of the most effective
• means to that end. When, therefore, Chairman Gary,
of the Steel Corporation, accompanied by Mr. Frick,
on that memorable Monday in November, called on
Mr. Roosevelt at a time when the trust-company
situation was at its point of extreme peril, he acted
with his characteristic decisiveness—this time in the
right way. His callers did not ask his approval of the
scheme. But in view of the fact that the Anti-Trust
Law of 1890 was being employed as a weapon for
attacking large industrial undertakings, they wanted
to know whether, in the event that the Tennessee
property was taken over, the act would be looked
upon as falling under the condemnation of the AntiTrust Law. The visit was in this sense precautionary.
But it was also protective, for if Mr. Morgan had gone
ahead without ascertaining the views of the Administration, and the latter had then pounced upon the
Steel Corporation, all Mr. Morgan's work would have
gone for naught and confidence would have become
more unsettled than before. To Mr. Roosevelt's
credit, be it said, that when made acquainted with
the facts, he unhesitatingly declared he could see
no reason why he should interfere, and his course on
that occasion stands out conspicuously as one act
of great merit in his administration.
The absorption of the Tennessee Co. was distinctly
a relief measure, applied at a most critical stage during
the panicky developments of the autumn of 1907, and,
considering its effectiveness as such, it is surprising
that any one should ever have dared to impugn the
motive of either Mr. Roosevelt or that of the chief
figure in it—Mr. J. P. Morgan—in the action taken.
But Mr. Roosevelt in his testimony was able to make
a most effective reply, and the present investigation
has served at least one good purpose, inasmuch as it
has brought out in such voluminous fashion all the
-details and facts bearing on that transaction, and also
many facts bearing on the early history of the Steel
'Corporation, all showing complete absence of meretricious motives.
Politicians in and out of Congress have sought to
make it appear that the purchase of the Tennessee
property was not primarily a plan for relieving the
strain of the panic, but that the Steel Co. had long
been desirous of acquiring the Tennessee concern; that
those interested in the Steel Co. had contrived to bring
about the very situation which actually arose, thereby
facilitating the scheme for getting control of the
property, and that continuous assaults had been made
by the same parties on the price of the stock in the
market so as to destroy the value of the shares as
collateral. The testimony of all the leading witnesses,
particularly those who have appeared the past two
weeks, including Mr. Schley, of Moore & Schley,
ex-President Roosevelt,former President Schwab of the
Steel Corporation, and also George W. Perkins, the
Chairman of the Corporation's Finance Committee,
completely refutes all such allegations and makes the
transaction stand out as one of the unassailable propo:sitions creditable to all the participants in it.
377
The truth is, control of the Tennessee Coal Company
had got into the hands of a speculative clique who, to
finance their purchase, were obliged to obtain large
loans from banking institutions on Tennessee stock as
collateral. These people had gobbled up practically
all the outstanding stock, leaving very little of it in
the market. No one would have dared to sell the
stock short in an effort to depress it, since there was
no available supply and it was practically cornered,
while, on the other hand, no one could be induced to
buy it, and for the same reason. If Mr. Morgan and
those dictating the policy of the Steel Corporation had
been influenced in the least by selfish considerations,
they would have bided their time, for in the end they
could have had it at their own figure. Such of the
stock as was held in loans would have been sold out by
the banks and, there being no market for the same,
would have had to be bought in for account of the
banks. These latter would then have been forced to
open negotiations with the Steel Corporation as the
only possible buyer. Such of the holdings as were not
in loans would have sought lodgment in the same place,
in the absence of any other buyer, and again the Steel
Corporation would have found it possible to make its
own terms. Possibly such holders might have been
able to retain their hold longer, but as the company
was without the financial means needed for its development,they,too,would have eventually been forced to
seek refuge in the fold of that corporation. It is no
exaggeration to say that in this contingency the Steel
Corporation might have got control of the Tennessee
company for less than one-half of what was actually
paid.
Much has been made from time to time of the circumstance that the Trust Company of America held only a
trifling amount of Tennessee stock as security for
loans. It was part of the relief scheme that this company, which was at the time subjected to an unexampled run on the part of its depositors, should not
be allowed to go to the wall, since its solvency had
been established beyond question. But all the testimony goes to show that the distinct purpose of the
nekotiations was to save the firm of Moore & Schley,
which stood high in financial estimation and which was
financing a large part of the holdings of the property,
and was also borrowing enormous amounts from the
banks in the ordinary course of business, for which
Tennessee Coal Iron & RR.stock had been put up as part
collateral. That the Trust Company of America was
involved to only a relatively trifling extent in loans on
Tennessee Coal & Iron stock was publicly announced
at the time. The visit to President Roosevelt was
made on Monday, Nov. 4, after the conclusion of conferences at Mr. Morgan's house which had lasted until
5 a. m. of that morning. On Tuesday, Nov. 5, President 0a,kleigh Thorne of the Trust Company of America gave out a statement saying that the Trust Company did not own a single share of Tennessee CoalIron
& RR,stock and had outstanding loans to responsible
parties with Tennessee Coal Iron&RR.stock as collateral
to the sum of no more than $620,000, which loans, it
was stated, were amply margined. These facts all
appeared in our issue of Nov.9 1907, page 1181.
The concern which needed financial assistance was the
firm of Moore & Schley, and until the present investigation the public • had no inkling of how extensive
were the financial involvements of this concern at the
378
THE CHRONICLE
[VoL. Lxxxxm.
time. A useful service has been performed in bring- very large, $30,000,000, and that was the reason he
ing out the facts on this point. Mr. Schley himself came to the Steel Corporation."
testified, Sayin: "We had borrowed about$35,000,000,
One commanding figure in the episode stands out
and the proportion of Tennessee stock in the collateral with greater grandeur than before—J. P. Morgan.
represented about $5,000,000 or $6,000,000 of the Mr. Perkins refers to him as the "chief life-saver in
total." Thus it was not merely the five million or that panic situation." He added: "Mr. Morgan
cersix million dollars of Tennessee collateral that marked tainly was the savior of that panic. If there ever was
a
the extent of the firm's necessities, but an aggregate of general in charge of any fight for any people who
$35,000,060 of loans. Imagine what would have hap- accomplished more than Morgan did in that crisis,
pened if thc firm could not have met the $35,000,000 of nothing is recorded about him in history." In saying
loans at a time of panicky conditions! How many this Mr. Perkins most assuredly is stating the literal
banking institutions would have become engulfed in truth.
the maelstrom? But that was not all. Mr. Schley
A point made by ex-President Roosevelt also dealso testified that the stock owned by himself and by serves recording, namely, that "Every step
in the matKessler (who was one of the participants), with the ter was open as the day, and was known
in detail at
stock owned by the syndicate, was within 40,000 or the moment to all people. The press contained full
50,000 shares of all the Tennessee stock outstanding, accounts of the visit of Messrs. Frick and Gary,
amounting to 300,000 shares. He stated that Kessler and heralded widely and with acclamation the results
had eight or ten other accounts around the Street be- of that visit. At the time the relief and rejoicing over
sides that kept with Moore & Schley, and he added: what had been done were well-nigh universal. The
"These brokers were all distressed at the time and danger was too imminent and too appalling for men to
wanted him to take up the stock, which he wasn't able be willing to condemn those who were successful in
to do."
saving them from it."
Mr. Schley was asked if there had been a general atIn closing, still another point, also made by Mr.
tack or a general drive on Tennessee Coal Iron & RR. Roosevelt, deserves recording. We have reference to
stock and he replied:"I never knew of any." Asked in the indirect benefit that has followed from the change
what way the exchange of Tennessee stock for Steel Cor- of control of the Tennessee Coal & Iron property. In
poration bonds was necessary to save Moore & Schley, the hands of a speculative syndicate it was impossible
he answered:"We had $35,000,000 in loans and our cus- to raise the financial means for the proper developtomers were borrowing from us on T. C. & I., which ment of the Tennessee property. But with the Steel
was unmarketable. When we got the bonds in ex- Corporation in control,the property is being put in the
change there was an immediate market for them. The right shape and all its needs in the way of plants and
bonds could be sold and the accounts cleared." Asked equipment are being carefully provided. Here is Mr.
if there was any particular reason why T. C. & I. Roosevelt's testimony to that effect:
should be made the subject of a trade, he said: "It
"Incidentally, I may mention that when I was in
relieved my needs. It relieved every friend I had and
Birmingham last spring, every man I met, without
relieved my office." Asked further if, in the event exception, who
was competent to testify, informed me
that the Steel Corporation had loaned him the bonds, voluntarily that the results of the action taken had
whether that would not have served the same pur- been of the utmost benefit to Birmingham, and therepose, he said: "No, because my friends couldn't have fore to Alabama, the industry having profited to an
availed themselves of borrowed bonds. They couldn't extraordinary degree, not only from the standpoint of
the business, but from the standpoint of the community
have sold them."
at large and of the wage-workers, by the change in
The testimony of Mr. George W. Perkins was to.the ownership. The results of the action I took were benesame effect. The daily newspapers have presented ficial from every standpoint, and the action itself at
Mr. Perkins's testimony in an unfavorable light, but he the time when it was taken was vitally necessary to
spoke in a very convincing fashion and made some very the welfare of the people of the United States."
apt remarks. Asked what inducement Schley had
Never has praiseworthy action in a most commendagiven to, take over Tennessee Coal & Iron, he said: ble financial transaction been so outrageously villified
"He didn't induce the United States Steel Corporation as in this present Tennessee transaction. Every
to do anything. It was any port in a storm with him. right-minded person, therefore, must rejoice that vinHe didn't care whether the Steel Corporation or the dication is now equally complete.
banks came to his aid." "He had stock to sell?"
queried Chairman Stanley. "I beg your pardon," reTHE AGRICULTURAL OUTLOOK.
plied Mr. Perkins. "He had loans to meet. He
The grain-crop report of the Department of Agriculwanted in any way possible to meet his maturing obligations, and the situation was such that the Steel Cor- ture for August 1, issued on Wednesday, indicates
poration was his only available relief." Mr. Perkins that there was a considerable deterioration in the
condition of our leading cereals during July, the
also added:
results of the drought and high temperature that
"One difficulty witli Moore & Schley was that they
had a large amount of Tennessee Coal & Iron stock in prevailed in the regions of large production the first
their loans, some of them call and time loans that were half of the month. Consequently, the prospects of
just maturing. Schley told me that his time loans yield are apparently much less encouraging than they
could not be extended; that when they matured the were on July 1. The condition of corn at that time
next week and were not paid, of course the banks had pointed to
a crop second only to the record
would sell the securities on the loans, and that to throw
production
of
year, but the situation Augu t 1,
last
Tennessee Coal & Iron on the market would so break
the price that all these loans would have to be called as viewed officially, seems to indicate a yield smaller
by the banks and precipitate a crisis. They were than in at least four of the last six years.
AUG. 12 1911.]
THE CHRONICLE
Winter-wheat, too, on the basis of the Department's
preliminary estimate of yield per acre, figures out a
crop smaller than last year, and but slightly greater
than the 5-year (1906-10) average, while the Government's August 1 indication of 10.1 bushels per acre for
spring wheat would make the total production of that
cereal less than in any year since 1894, only excepting
1896 and 1900. Finally, the deterioration in oats
since planting has been so great this season, according
to the Department, that a very much smaller production than in either 1910 or 1909 is taken to be
indicated.
The outlook, therefore, judged by this official report
of August, is less encouraging than expected, the
minor crops, such as barley, buckwheat, potatoes and
hay also promising smaller yields than a year ago.
There is a disposition, however, in well-informed
circles, especially at the West, not to accept the
Department's report as truly representing the present
situation, especially in the corn belt, from which a
much better yield is looked for than as indicated by the
August 1 condition. Moreover, developments since
August 1 have been of a character to encourage more
optimistic views. The Government weather report for
the first week of August, for instance, states "good
rains occurred (during the week ended August 7) in
nearly all portions of the principal corn-growing
States, relieving the needs of that cereal for more
moisture at a critical period of its growth." Private
reports are of the same general tenor, some of them
noting a pronounced improvement in corn prospects
since the rains. Advices from the Dakotas indicate
that wheat, too, is showing recuperation. With the
winter-wheat harvest actually over and the garnering
of spring wheat in progress, no further change in the
outlook for wheat can be looked for except in
so far as the threshing returns may cause modifications,
up or down, in the estimated yield per acre. But in
corn, with continued favorable weather, there is a
possibility of much improvement, giving a crop
decidedly greater than seemed likely at the close
of July.
For corn the average condition on August 1 is given
as only 69.6, this being a decline from July 1 of 9.7
points. Deterioration from July 1 was most pronounced in States west of the Mississippi. In Iowa,
for example, there was a drop from 98 July 1 to 68
on August 1, Kansas 67 to 54, Nebraska 82 to 64,
Missouri 78 to 61, South Dakota 94 to 75 and Minnesota 98 to 81. Texas also shows a decline—from
45 to 40—and Oklahoma 40 to 33. In almost every
case the promise, according to the Government figures,
appears to be much lessfavorable than a year ago,and,
with the exception of a few Southern States, the
condition August 1 was lower everywhere than the
ten-year average. Based on the average condition
August 1, the outlook would seem to be for a cropof
about 2,700,000,000 bushels, as against 3,125,713,000
bushels in 1910.
Preliminary returns from the winter-wheat harvest
are the basis upon which the Department of Agriculutre estimates the yield of that crop this year as
455,149,000 bushels, or 14.5 bushels per acre, as
compared with 464,044,000 bushels, or 15.8 bushels
per acre in 1910 and 498,888,004 bushels in 1906—the
record production. The average quality of the crop,
while high, is said not to be up to that of last year.
379
Spring wheat showed a further and heavy deterioration during July, the condition on August 1 for the
whole country being placed at 59.8, a decline of 14
points during the month. This condition of 59.8 compares with 61 in 1910, 91.6 in 1909 and a ten-year
average of 82.3, and is furthermore the lowest in very
many years, only excepting 1900. The indicated yield
per acre is given as only 10.1 bushels—the lowest of
which we can find record—foreshadowing a product
of approximately 209,645,700 bushels, or 21%
3 millions
less than in 1910 and the smallest outturn since 1900.
As remarked above, however, recent private advices
encourage more hopeful views of yield than this latest
official report appears to warrant.
Oats condition also is reported lower than a month
earlier, the Department stating it at 65.7 August 1
this year, against 68.8 on the 1st of July, 81.5 on
August 1 1910 and a ten-year average of 82.2. This
condition is abnormally low, and is the basis upon
which the Department figures out a yield per acre
of only 23.2 bushels, which in turn is below that of
all years since 1865 except the 19.8 bushels of 1890
and the 22.1 bushels of 1874. The promise, therefore,
is for a product of only 817,800,000 bushels, which
compares with the record crop of 1,126,765,000
bushels in 1910 and 1,007,353,000 bushels in 1909.
The amount of oats remaining in farmers' hands in the
United States on August 1 this year, notwithstanding
the large crop of 1910, was only slightly greater than
on the same date in the previous year, comparison
being between 64,342,000 bushels and 63,249,000
bushels.
THE NETV LIFE INSURANCE SCHEME OF.
WISCONSIN.
A life insurance scheme provided for by a recent
law of Wisconsin has been carelessly mentioned, in
headlines and otherwise, by several dailies and even
by some insurance journals, as State insurance. Obviously, there can be no real insurance of that character
until some State either makes itself formally an insurance company, writing the policies and doing the
business, or else makes itself the responsible guarantor
of contracts written otherwise. It is not impossible
that such a thing will yet be undertaken. A proposition for. an exclusively Government monopoly as to life
insurance in Italy has received what is called a vote of
confidence, and has been put over until November; a
similar proposition as to all kinds of insurance has appeared in Uruguay.
The Wisconsin scheme is life insurance conducted by
the State, but is distinctly not insurance by the State,
although one objection to it is that it is liable to be
misunderstood as being such. The title of the Act
declares it to be a law "to provide for the administration by the State of a life fund for granting life insurance and paying old-age annuities." The first paragraph provides that this is "without liability on the
part of the State beyond the amount of the fund," and
the document to be issued to applicants shall recite
"that the same shall be payable out of the life fund
without further liability on the part of the State."
It will almost certainly be assumed by applicants
that they are to gain in point of safety as well as
liberality of treatment, because the State stands
behind the contracts. But the reverse will be the
fact, especially at the outset. For although the
380
THE CHRONICLE
amount on one life is never to exceed $3,000 and is
Hot to exceed $1,000 until the number of insured
exceeds a thousand, there is no provision whatever for
tarty cases of mortality. There is neither capital
itock nor guaranty fund of any description, nor is it
provided (as it was when life insurance b.egan in this
State) that the insurances shall not take effect until
say a half-million has been applied for. Therefore,
the insurances of those who die soon after the scheme
begins and while the total number is small will have
nothing to fall back upon btit a fund which has not
had time to grew,
The actuarial basis for computing rates is less
Unsafe than this, but need not be considered in detail,
fot the present purpose. But there are to be "aditions for extra hazards", which ineana that what are
called "sub-standard" risks—that is, lives that. are
impaired or under avei age as to acceptability—
are to he admitted. It is to be seen whether the
State officers who are to do the managing will have
the skill and firmness to properly weigh such lives;
furthermore, persons who have been declined by the
companies or have thought it hopeless to apply, or
who have been dissatisfied with the toms proposed
to them, will naturally be first and surest to offer
tinder this scheme. If so, the mortality in the first
year or two is the more likely to make demands which
the slowly-gathering life fund cannot meet.
The unfavorable conditions may not stop with these.
The scheme is offered only "to persons who, at the
time o!! the granting, of such insurance and annuities,
are
, within the State or residents thereof" Evidently.
"legal residents, either actually Within the State or
temporarily sojourning elsewhere, are meant, although
the language would literally cover any body who went
into the State for the purpose of insuring. Take it
as a State benefit according to intent, and it cannot
experiente the most favorable mortality, for that
requires wider area. The Commissioner of Insurance
and the State Itealth Board are to pass upon applications, and the medical examinations required is to be
tinder direction of the latter. The success of life
insurance turns upon hinting a correct actuarial
foundation, aided by able management. The State
Treasurer is to be custodian and manager of the funds,
the Commissioner is to be manager of the business, and
each is to be'bonded for the purpose. Whether these
inexperienced political appointees, without secured
tenure of office, are likely to furnish the able handling
which is indispensable for success in life insurance
we leave to the reader's judgment:
An interesting question arises as to who. or what
will undertake the insurance promise in the policy.
A policy shall issue, "signed by the Commissioner of
Insurance and the State Treasurer, reciting that the
same shall be payable out of the life fund without
further liability on part of the State." This is all
the law provides; therefore the policy cannot contain
any covenant, as customary, for there is no covenanter.
Within two years, the Commissioner is to prepare
and file in hia office premium .rates and other tables,
and all other necessary forms, including the difficult
one just mentioned. Having done so, he is to send
copies to every State factory inspector, to every State
bank, and to the clerk and treasurer of every county
town and village. It is to be their duty to fill out
[VoL. Lxxxxin.
and transmit applications and any person who asks
for them is also entitled to receive the forms direct.
Each person transmitting an application may retain
25 cents for his trouble, and those who act as their
own agents may retain the same fee. This is based
upon the assumption that people will apply for life
insurance voluntarily, and thus cut out the expense
of agency work. This will be more likely to prove
correct as to persons who cannot readily get insurance
in the companies.
It is not necessary to follow the scheme into every
detail. It cannot be deemed sound and safe. It
may not be taken up by the people on any considerable
scale, and proposing it is one more example of how
wild and strange things are coming up in the name
of the public welfare.
RAILROAD GROSS EARNINGS FOR
THE HALF-YEAR.
In reviewing the earnings of United States railroads
for the first six months of the present calendar year,
a condition is disclosed which has not been met with
since the business upheaval following the panic of 1907
—namely a retrograde movement, carrying the totals
down below their amount in the previous year. Our
tables to-day deal entirely with the statistics of gross
revenues. Figures as to the net on any comprehensive
scale will not be available for another period of two
or three weeks. The fact that June is the closing
month of the fiscal year makes the returns slow in
coming in, and even as to the gross we are obliged in
our present tabulations to use figures covering in some
instances only the five months to May' 31 instead of
the full six months ending June 30. The fact can be
regarded, however, as established that gross earnings
ha,v0 fallen behind in a sum which, while not large in
ratio, is nevertheless substantial in amount.
As our tabulations now stand, there is A loss in gross
revenues as compared with the first six months of last
year of $26,557,747, or 2.03%. It should be borne
in mind that the importance of a downward turn in the
gross revenues of the railroads of this country cannot
be accurately meaatired by the mere extent of the falling
off. The normal condition in the United States is one
of constant growth and every one makes his caltulations on the assumption that this growth is a factor
that can be counted upon with a great deal of confidence—barring unforeseen developments. When,
therefore, instead of an increase in gross receipts we
have a decrease, the significance of the event can only
properly be ganged by considering this decrease in
conjunction with what the increase would have been
if revenues had pursued a normal course and shown
the further growth that would have followed in that
event. The two together, make up the total of the
loss sustained. On the present occasion, moreover,
a downward turn was particularly unfortunate, inasmuch as the cost of railroad operations has heavily
increased as a result of last year's advances in wages.
Of course, also, larger income is likewise called for to
meet the increased interest and dividend requirements
resulting from the new capital additions made from
year to year in providing additional facilities for handling traffic.
The primary cause of the falling off in earnings is
of course found in the recession in business, and more
particularly the depression in the iron and steel Indus-
4 1911.]
4.170. 1 2
THE CHRONICLE
381
Statistics of thp
try as a result of the crippled state of the railroads and it is pointed out by the Bureau of
that,inasmuch as
themselves. There were, however, also some second- Department of Commerce and Labor
for industrial purary causes, such as a smaller grain movement in the bituminous coal is used primarily
by smelting furcase of the roads in the West, though apparently not poses, while coke is consumed chiefly
that the presin the case of the trunk lines to the seaboard. General naces, the figures would seem to indicate
is shared to a much
trade showed a slackening tendency when the year ent depression in the iron trade
g industries-a concoal-usin
other
by
extent
been
smaller
have
might
there
opened, but hope ran high, and
a decided quickening of activity had there not been clusion which may well be admitted.
The railroads had an advantage in 1911 in the Cirfurther untoward developments. Towards the end
miners and opera
of February came the decisions of the Inter-State Com- cumstance that differences between
great extent in curtailmerce Commission adverse to the railroads in the cele- ators did not figure to any very
in 1910 such differences
brated rate cases; that put an end to the •chance of ing the output of coal, whereas
down bituminous
trade revival-certainly so far as such revival might played an important part in cutting
But
depend upon a stimulus from the railroad world. coal production in various parts of the country.
largely
being
it
only,
e
a
was
this
advantag
negative
ns
indicatio
the
months
six
the
during
Several times
for bitumiappeared favorable for larger activity in trade, but offset by the greatly diminished demand
n. In
depressio
on each occasion some new adverse development oc- nous coal on account of the business
Mining
and
ring
curred to blight the favorable promise. According to its issue of March 18, the "Enginee
the bituminous mines
the statistics made public last week by Mr. James M. Journal" of this city noted that
ania and Colorado were
Swank of the American Iron & Steel Association, in West Virginia, Pennsylv
50% of their capacity,
the output of pig iron in the United States in being operated at only about
at
60%, of Alabama at
about
the first six months of 1911 was only 11,665,796 those of the Southwest
.and Illinois at only
tons, as against 14,978,738 tons in the first six about 55% and of Ohio, Indiana
t later
months of 1910. We need hardly add that about 40%. The situation improved somewha
same
the
authorin
July
even
the depression in the iron and steel industry involved in the half-year, and yet
in the West were "still
an important shrinkage in traffic in many direc- ity reported that most mines
capacity." Weather
their
tions. There was a noteworthy contraction in the ore running at about 60% of
to any great extent
traffic
traffic and likewise a decided curtailment of the coal conditions did not retard
months of 1910 they
early
tonnage. Of course, also, there was a diminution in in 1911, whereas during the
with the roads.
influence
were at times a serious adverse
the traffic in the finished products of iron and steel.
in earnincrease
large
the
We have spoken above of
The iron ore shipments from Lake Superior ports
Accord1910.
of
months
six
in the first
during June 1911 were only 4,826,505 tons, against ings recorded
of
miles
216,909
covering
ns,
7,316,592 tons in June 1910, while for the six months ing to our early tabulatio
or
048,
$159,453,
to
of 1911 the aggregate shipments were no more than road, the addition amounted
t, however, embracing
8,842,908 tons, against 14,918,258 tons in the first 14.54%. Our latest statemen
$173,044,812, or
increase
the
half of 1910. The loss here, it will be observed, is 235,462 miles, made
t for the six
statemen
final
our
very striking. Of course, these are the shipments by 14.85%. In 1909
or 11.86%.
increase,
709
water, not by rail, but the figures are an indication months showed $122,730,
the
following
period
the
was
year
(1908)
of the diminished amounts of ores brought to the lower The previous
trea
was
there
of
then,
course,
and
1907,
lake ports, whence the railroads haul it to Pittsburgh panic of
in railroad. revenues. The loss by,
and other iron centres where the blast furnaces are mendous shrinkage
amounted to $197,085,791, or
ons
compilati
located. The Connellsville coke region produced only our final
related to only 202,172 miles
figures
the
8,026,923 short tons of coke in the 26 weeks of 1911, 16.65%, but
that the total failing Of
estimated
we
against 11,289,569 tons in the first 26 weeks of 1910, of road, and
000. The large improve$235,000,
and the coke traffic of eight leading Eastern railroads must have reached
and 1910 represented,
1909
in
,
recorded
dropped from 15,019,444 short tons in 1910 to 11,- ment, therefore
of what had been
recovery
a
measure
ble
in
considera
010,019 tons in 1911. Fully one-half the loss fell upon
had been almost
trend
the
1908
to
Prior
in
the Pennsylvania Railroad lines, which also sustained lost 1908.
In the
decade.
full
a
for
upward
ptedly
a decrease in the bituminous coal traffic. The anthra- uninterru
six
first
the
for
ons
comparis
the
show
we
cite coal tonnage was larger than in the preceding year, following
1897:
to
back
year
each
of
months
but, notwithstanding the gain on that account, the
Earnings.
Mileage.
total coal and coke tonnage combined of the Penn- Jan. 1
Increase
or
Year
Year
Year InYear
sylvania Railroad lines East of Pittsburgh and Erie Juneto 30. Given.
Decrease.
Preceding.
Given.
,Preccd . cr'se.
$
reached only 31,033,162 tons in the period from Jan. 1 Year. Miles. ! Miles. •%
• $
17%1
$
158,295 157,463 0.52 473,084,924 475,293,350 -2,208,426 046
1307
12.44
+59,340,294
477,035,482
536,375,776
0.68
to June 30 the present year, against 33,256,539 tons 1898
157,702
158,775
161,166 159,865 0.81 556,326,364 523.231,211 +33,095,153 6,32
1809
13.78
+77.949.132
643,342,643
565,393,511
2.79
162,190
166,704
the same six months of 1910.
1900
175,371 171,257 2.40 704,538,792 642,321,514 +62,217,278 9.69'
1901
179,065 176,459 1.47 749,023,005 701,688.284 +47,334,721 6.74
As far as anthracite coal is concerned, this goes 1902
173,655 169,747 2.36 847,034,318 745.087,476 +101.946,842 13.68
1903
177,073 173,495 2.41 ' 794,929,168 810,131.983 -15,202,815 1.87
largely into private and family uses, and shipments 1004
185,912 183,320 1.41 910,027.258 846.375,228 +63,652.030 7.52
1905
196,571 194,005 1.32 1,049.355,572 922,696,020 +126,659,552 13.72
from the mines in the six months of 1911 were 35,309,- 1906
f 12.77
200,352 197,715 1.52 1,185,196,030 1.050,957,076 +134,238,35,
1907
200,083 1.04 987,005.757 1,154 091 548 -197,085,791 16.65
202,172
11,86
,+122,730,709
583 tons, against 32,814,748 tons in the six months of 1908
1,157,508,747
1.12
1,034,778,038
230,022 227.369
1909
235,402 231,104 1.88 1.338,344,306 1.165.299,4941 +173.044.812 14.85
2.03
-26,557,747
1,284,282,115
1,310.839,8621
2.25
24
235,293220,8
1910. But there are only a very few roads that share 1910
1911
I
in these shipments of anthracite. The bituminous Note.-Neither the earnings of the Mexican nor Canadian roads nor the mining
coal shipments nearly all over the country declined. operations of the anthracite coal roads are included in this table.
With reference to the movement of the leading staFor eight leading Eastern roads they are given at
55,489,525 short tons, compared with 57,475,998 tons ples, we have already indicated that the Western
for the same period of 1910. This is a much smaller grain movement appears to have been smaller than in
ratio of loss than in the case of the coke shipments, 1910, but that, on the other hand, the movement to
382
THE CHRONICLE
[VoL. Lxxxxim
the seaboard was somewhat larger. The loss in the was very much better, taking the country as a whole,
West was apparently of large dimensions. According to the statistics compiled by us, the deliveries of
wheat at the Western primary markets for the 26 weeks
of 1911 were only 54,107,650 bushels, against 79,994,228 bushels in the same period of 1910; the deliveries
of corn, 90,604,047 bushels, against 93,115,095 bushels;
of oats, 66,113,159 bushels, against 77,398,618 bushels,
and of barley 17,300,949 bushels, against 35,106,610.
Adding rye, aggregate receipts for the five cereals were
229,648,363 bushels, against 288,194,670 bushels in
1910, besides which there was also a falling off in flour,
as will appear from the following, which gives the details of the Western grain receipts in our usual form:
RECEIPTS AT WESTERN PRIMARY MARKETS.
January 1 to
Flour.
Wheat.
Oats.
Corn.
Barley.
Rye.
July 1(bbls.)
(bush.)
(bush.)
(bush.)
(bush.)
(bush.)
Chicago1911
2,225.743 6,969,902 50,759,500 36,805,900 6,959,000 413,500
1910
3,954,977 6,285,900 45,312,650 39,241,400 13,769,900 538.000
Milwaukee1911
1,389,325 2,502,260 3,476,680 5,780,004 3,709,580 428,320
1910
1,453.795 3,162,240 4,288.669 5,065,250 6,413,893 419,050
Bt. Louis1911
1,014,660 5,001,792 10,640,490 8,386.100
470,986
67,432
1910
1,255.990 5,535,842 13,685,317 9.850,460
906,900 162,100
Toledo1911
759,000 2,496,100 1,134,000
1,000
1910
893,000 2,299,900 1,002,600
68.650
Detroit1911
100,817
564,510 1,749,424 1,036,927
1910
420,422 1,233,111
106,764
954,050
Cleveland1911
220,783 2,069,885 1,480,173
15,982
28,166
516
1910
138,193 3,247,425 1,942,523
48,020
52,412
7,242
Peoria266,752 6,941,100 2,925,989
1911
970,529
779.432 111,200
321,292 8,046,368 6,085,862 1.254,912 199,700
1910
1,658,564
Duluth,1911
276,080 5.121,194 1,268,097 1,373,166
482,715
56,210
368,010 9,805,049
612,693 4,716.865 3,489,135 314,846
1910
Minneapolis26,985,147 3,776,271 4,902,000 4,871,070 444,380
1911
43,506,940 4,693,121 8.675,708 9,219.458 870,530
1910
Kansas City1911
5,716,310 7,426,500 2,288,900
1910
9,925,350 9.695,850 1,803,900
---- ---- ---- ---Total of all5,993,136 54,107,650 90,604,047 66,113,159 17.300,949 1,522,558
1911
1910
8,846,120 79,994,228 93,115,095 77,398,618 35,106,610 2,580,119
At the Eastern seaboard, notwithstanding a diminution in the quantity of wheat brought in,gains in the
other leading cereals, particularly in corn, were of
such extent as to make aggregate grain receipts in the
half-year of 1911 105,218,525 bushels, against 81,375,347 bushels in 1910, as shown by the following:
RECEIPTS OF FLOUR AND GRAIN AT SEABOARD JAN. 1 TO JUNE 30.
Receipts of1911.
1910.
1909:
1908.
1907.
'Flour
bbis... 9,170,530 8,317,837 7,362,156 8,412,332 9,743.742
Wheat
Dorn
Vats
Barley
Rye
Total grain
bush. 30.651,278 33,713,152 33,340,796 36,758.872 42,739.714
45,570.428 22,512,796 26.638.999 25.220,828 58,270.999
26,044,936 22,894,634 23,010,866 20,458,603 28,018.671
2,595,786
1,841,976 4,072,637 2,629.728 2,656,917
356.097
412,789
376,752
1,097,450
1,242,702
105,218.525 81.375,347 87,440,050 86,165.481 132.929,003
Southern roads had a somewhat better cotton movement the present year, yet the increase on that account
'was not very large, and in the case of some of the separate ports the cotton receipts were actually somewhat
,smaller than the very low figures of last year. That is
,totably true in the case of Galveston, Mobile and Nor-.
folk. Aggregate receipts at all the Southern outports
were 2,265,913 bales, against 1,964,066 bales in 1910,
but comparing with 3,408,041 bales in 1909. The
shipments overland were 579,703 bales in 1911, 509,664
bales in 1910 and 710,783 bales in 1909.
RECEIPTS OF COTTON AT SOUTHERN PORTS FROM JAN. 1 TO JUNE 30.
Since January 1
Ports1911.
1910.
1909.
1907.
1908.
1906.
Galveston _ _ _bales.. 667,510 685,311 1,194,089 1,088,886 1,603.836 805.768
Port Arthur, 'Sm.__ _ 256.888 107.515 232,159
82.453 104,263
49,300
New Orleans
596.085 569,732 865,419 897,383 942,021 738,463
Mobile
58.145
73.557 131.791 107,350
82,289
69,502
Pensacola, &c
86.394
57,453
83,556
74,336
74,790
80,207
Savannah
298,262 220,888 400,934 371,289 397.644 380.990
Brunswick
53,286
39,817 106,871
64,558
66,068
64,972
Charleston
37,442
23,438
61.650
30,650
35,447
27,902
Georgetown
738
402
592
1,291
562
662
Wilmington
74,824
41,471 114,116 129,590
71,784
54,224
Norfolk
115.189 137,023 202,285 187,143 225.822 155,304
Newport News. &c
Si 810
11,132
Total
272-135,913 17913401-36 3.408,041 3,043.028 376-2
944
-5
-- 27478:428
-
than in 1910, though, on the other hand, out in the
Sierras the heaviest snow-storm and blizzard in fifty
years was reported-this last being obviously a matter of limited application. With February there was
a decrease in earnings, and this continued through each
succeeding month. In May and June the losses were
proportionately much less than in the other months,
doubtless due in large part to the fact that the gains
in these months of 1910 had been cut down by a pretty
wide suspension of mining in the bituminous coal regions, reducing particularly the coal traffic over many
roads in the Middle and Middle Western States. In
1911 there was no drawback of this kind, and though
the demand for coal was on a relatively small scale,
owing to business depression, the coal traffic on many
roads was nevertheless considerably larger than in 1910.
Monthly Summaries,
.
Month Jan. 1911, 242,479 miles
Month Feb. 1911, 242,640 miles
Month Mch. 1911, 242,686 miles
Month Apr. 1911, 236,793 miles
Month May 1911, 236,230 miles
Month June 1911, 190,925 miles
1911.
1910.
Inc. or Dec.
S
$
$
215,057,017 210,808,246 +4,248,771
199,035,257 202,492,120 -3,456,863
226,997,481 238,336,609 -11,339,128
915,799,079 223,245,128 -7,446,049
226,442,818 231,066,896 -4,624,078
186,627.303 193,299,467 -5,672,164
%
2.01
1.78
4.76
3.33
1.99
2.93
In the case of the separate roads or systems, losses,
of course, greatly predominated. Still, there is a
very respectable number of gains, and some of these
are of good magnitude. The list of increases includes
many roads in the South, where business is in a state
of great prosperity; likewise roads in the Southwest,
like the Rock Island and Missouri Kansas & Texas,
where last season's excellent grain harvests were an
important benefit; some anthracite coal properties,
which in 1911 have been favored by larger coal shipments, and, finally, the principal New England systems, whose passenger traffic is apparently being well
maintained. It will be observed that, whereas the
Pennsylvania on the lines directly operated east and
west of Pittsburgh, stands at the head of the decreases,
having a loss of $8,028,689, on the other hand the
New York Central is conspicuous for an increase of
$1,837,864. This is for the New York Central proper,
which of course would not be affected by the depression
in the iron and steel industry in the same way as the
Pennsylvania system. Including the various auxiliary
and controlled roads, like the Michigan Central, the
Lake Shore, the "Big Four," the "Nickel Plate," &c.,
the whole going to form the New York Central System,
the result is a loss of $398,194.
PRINCIPAL CHANGES IN GROSS EARNINGS JAN 1. TO JUNE 30.
Increases.
Decreases.
San Pedro Los Ang & s L $2,317,567 Southern Pacific (10)_.._$3,587,807
N Y Central & Hud Riv_ b1,837,864 Union Pacific (3)
3,219,562
Southern
3,137,818
1.235,489 Great Northern
Illinois Central
2,72.1,844
866,710 Baltimore & Ohio
Atlantic Coast Line
2,354,038
862,843 Duluth Missabe & Nor
Seaboard Air Line
2,334,866
861,214 Chicago Burl & Quincy
St Louis & San Fran (4)_
853,933 Chicago Mllw &St Paul_ 1,480,700
Virginian
759,344 Colorado & Southern (4)_ 1,420,547
Missouri Kan & Tex (3)_
738,717 Pittsburgh &Lake Erie_ 1,346,322
Delaware & Hudson_ _
656,394 Minn St P & S S M (2) _ 1,203,245
Alton
Chicago &
968,085
630,680 Lake Shore & Mich So_ _ _
Boston & Maine
609,866 Elgin Joliet & Eastern
887,904
Lehigh Valley
a608,364 Duluth & Iron Range
763,944
Chic Milw & Puget Sound
586,895 Missouri Pacific (2)
739,917
734,055
Denver & Rio Grande_Representing (19) roads
Chicago &North Western
672,115
In our compilation_ _ _ _513,425,930 Norfolk do Western
671,053
Hocking Valley
624,041
Decreases.
Pennsylvania(3)
148,028,689 Representing (38) roads
Northern Pacific
4,305,006
in our compilation- _ _ _$41,204,556
Note.-Flgures in parenthesis after name of road indicate
number ol
lines'or companies for which separate returns are given in our compilation.
aFigures are for five months only. b These figures cover merely
the
operations of the New York Central itself. Including the various auxiliary
and controlled roads, like the Michigan Central, the Lake Shore, the"Big
Four", the "Nickel Plate," &e., the whole going to form the New York
Central System, the result is a 1 as of $398,194.
yThese figures represent the lines directly operated cast and west
of
Pittsburgh. Eastern lines showing $3,223,191 decrease and the Western
lines $4,805,498. For all lines owned, leased, operated and controlled, the
result for six months is a loss of $7,920.163.
The loss in gross earnings for the half-year extended
through all the months except the first. In January
thelcomparisons still showed a small increase. The
We now add our full detailed statement embracing
improvement then followed in large measure from the all roads for which it has
been possible to procure or
Circumstance that the weather, speaking generally, make up the figures.
Increase(±)
GROSS EARNINGS FROM JANUARY 1 TO JUNE 30.
Name of Road.
•
1911.
1910.
Mileage.
Increase(+)
or
Decrease (-). 1911. 1910.
Name of Road.
1911. -1
1910.
Mileage.
OT
Decrease (-)
1911.
1910.
N YC & HRR-(Con.)
$
3
3
-8,247
103.657
95,410
Louisv & Jeff Bridge
1,804 1,746
+72,011
13,987.403
14,059,414
Michigan Central_c_
2
2
-148
2,849
2,701
Mt Gilead Sh Line__
558
561
,-57,718
5,449,523
N Y Chic & St L_c__
5,391,805
351
351
-27,480
1,591,758
1,564,278
Peoria & Eastern_c_
191
215
8,283,619 -1,346,322
6,937,297
Pitts d, Lake Erie_c_
24
24
-1,552
412,112
410.560
Raquette Lake
65
65
+40,001
4248,968
St Lawrence & Adir_
4288,972
444
444
-57,413
2,165,687
2,108.274
Toledo & Ohio Cent c
GO
90
-45,332
231,471
186,139
Zanesville 8, Western
+175,60i, 2,040 2,045
29,612,602
NY N H & Hartford
29,788,211
546
546
4,129,524 ?(+188,778
N Y Ontario ,S, West
4,318,302
1,335,438 .' I +163,987 ' 152 , 151
N Y Susq & Western
1,499,425
602
608
1,382,488 ; +140,831
Norfolk Southern
1,523,319
-671,053 2,004 1,951
17,733,953
Norfolk & Western.._
17,062,900
112
112
-78,133
4293,462
4215,329
Northern Alabama
423,374,027 427,679,033 -4,305,006 6,029 5,849
Northern Pacific
376
41,111,950 1 +46,750 ' 376
a1,158,709
Northwestern Pacific
964.fti
Pennsylvania-Lines East of Pitts burgh78,548.872 5-3,223,193 3,977 3,970 •
75,325.681
Pennsylvania RR c
, 5
5
-21,085
451,450
Bait & Sparrows Pt_
830.365
88 ' 88
+683
Bait ehes & Atl_c_
104,575
105,258
26
26
-60,957
198,357
137,400
Cornwall & Lebanon
162
162
1,491.743 , -100.459
1,391,284
Cumberland Valley c
390
395
+369,392
4,314,002
4,683,394
Long Island.c
84
84
+1,388
47,586
48,974
Maryland Del & Va c
112
112
-94,133
1,598,446
NY Piffle & Norf_c_
1,692,579
471
469
+69,532
6,138,270
6,207,802
Northern Central_c_
717
713
+56,770
9,062,568
9,119,338
Piffle Bait & Wa,sh_c
3
3
-3,117
9,487
6.370
Rosslyn Connecting_
10
10
723,229
753.731
-30,502
Union flit of Balt_ __
353
353
2,424,492
2,587,385
.-1-162,893
West Jer & Seash_c_
Lines west of Pittsb.148
148
480,249
-63,914
416.335
Cinc & Muskingum_ ,
4.5
45
+6,701
205,732
212,433
eine Lebanon & Nor
212
.212
1,232,990
1,207,762
-25,228
Clev Akron & Colum
587
587
2,423,022
-77,866
2,345,156
Grand Rap & Ind_c_
247
247
576,360
+27,320
603,680
Tol Peer & West_c1,416 1,416
25,767,843 -3,128,434
22,639,409
Penne Company _c_ _
1,469,
1,468
-1,077,064
19,728,677
18,051,613
C
L
St
&
Ch
On
Pitts
827
827
-105,933
4,875,928
4,769,995
Vendetta c
28
-5,900
28
67,938
62,038
Waynesb & Wash
10
10
21,910
+2,941
24,851
Wheeling Terminal_
18
18
-1,090
4355;061
4353,971
Peoria & Pekin Union_
7,728,478
-257,855 2,332 2,328
7,470,623
Pere Marquette c
38
38
I.
+20,186
4240,972
4261,158
Perkiomen
241
240
+12.640
583,422
596,062
Pitts Shaw & Northern
-42.1,530 1,022 1,024
418,264,276 418,685,806
Phila & Reading
21
21
+1,111
4527,551
4528,662
Port Reading
262
262
-90,298
4361,064
4270,766
Quincy Om & Kan Cy
83
83
-10,398
41,082,437
41,072,039
Richmond Freda & Pot
180
180
-57,715
292,198
234,483
Rio Grande Southern e
+479,754 8,027 8,024
31,489,836
31,969,590
Rock Island (3 roads) c
468
468
+97,486
1,476,343
1.573,829
Rutland
319
319
+17,618
767,146
784,764
St Jos & Gr Island
+853,933 5,227 5.070
19,534,775
20,388,708
St L & S Fran (4 rcb0_
494
501
+96,784
905.593
1,002,377
St L Brownsv & Mx..
• 9
9
-199,387
897,031
697,644
St L Merch Br Term
105
-87,915
979,230
1,067,145
St L Rocky M & Pac_c
1,476
5
9
0
19
1,4
+238,051
5,193,284
5,431,335
St L Southwest(2 rds)c
724
724
-36,498
a1,485.077
41.448,579
San Ant & Arne Pnss. _
979,
+2,317,567 1,105
1,991,971
4,309,516
San Ped Los A & St L.
46 3,012
+861,214 3,03
11,422,683
10,561,469
Seaboard Air Line_c_
35
311,311
484,212
-172,101
South Buffalo
28,010,215
29,245,704
+1,235,489 7,039 7,050
Southern Itailway_c
281
281
4444,753
4408,608
+36,145
Southern Ity in Miss
57 9.800
51
65,070,623 -3,587,807 9.93
61.482,816
Southern Pee (10 rds) c
420 •
+395,546
41,505.403
41,900,949
Spok Port & Seattle
141 • •
161
539,985
389,957
-150,028
Spokane Internat'l
168
177
4412,561
8366,946
-45,615
Spokane & Inland Emp
81 s81
+32,868
•
490,574
523,442
Syracuse Bing & N Y
11
11
355,776
+13,811
369,587
Staten Isl Rap Tran
59 ,
57
.-3,912
574.904
570,992
Sunset
292 •
294
+90,666
656,449
747,115
Tennessee Central _ _ _ _
• 34
34
-53.774
1,288.624
1,234,850
Term Ass'n of St L.
•
-497,320 1,885 1,88
7,430,674
6,933,354
Texas & Pacific_c
10 •,
'110
-29,659
393,990
364,331
Tonopah & Goldfield._
451
451
-24,781
1,796,764
1,771,983
Tol St L & West_c
455
463
881,186 nr, -90,214
790.972
Trinity & Brazos Val
129.
4381,305 ‘'. -40,730 • 129
4340,575
Ulster & Delaware_ ...._
6,405
6,967
,
-3,219,552
42,377,253
39,157.691
rds)_c
(3
Pacific
Union
31 -:',
31
1,757,222 ... --151.999
1,605,223
Union RIt (of Pa)._ _ _
171
171
699.263
-25,631
673,632
Vicks Shrev & Pac_c
•%.:
188
240
579,695
+136,467
716,072
c
Virginia & Southwest
444
474
+759,394
1,137,106
1,896,590
Virginian
6 2,514
14
a 2 530
• +57,462 :
13,955,305
14,012,767
Wabash c
63.
a264,228
-29,384
4234,914
Wabash Pitts Term _ _ _
458'
457
-188,647
3,303,554
3,114,907
Wheeling 8, Lake Erie_
36
1
,
+26.26
4182,740
4509.008
Washington Southern_
543
543
-236,500
43,054,390
42,817,890
Western Maryland....
133
133
+64,578
4488,256
4552,834
Western fly of Fla_ _ _ _
• 92
'92
+50,877
325,966
376,843
Wilkes-Barre & East
+301,251) 1.372 lt372 •
4,885.121
5,186,371
Yazoo & Miss Vall_c
+19,441 9,697 9.483
15,856.742
15,876,183
182 minor roads
----7--Grand total(443 rds.) 1,284,282,115 1,310,839,802 -20;557,747 235,293 229,624
.
Net decrease (2.03%).
142
142
-11,447
831,401
819,954
Alabama & Vicksburg c
309
-37,249
309
2,197,051
2,159,802
Ala Great Southern_c_
301
+28,110
301
959,843
987,953
Ann Arbor_c
312
364
-160,462
1,002,336
841,874
Arizona Eastern
108
-57,543
108
476,361
418,818
Arizona & New Mexico
9,901
10,400
-206,864
52,095,654
51,888,790
At T & S F (11 rds)..c.
670
661
+108,841
1,278,828
1,387,669
Atlanta Birm & Atl_c_
03
93
+57,928
4454,552
4512,480
Atlanta & West Point.
167
-27,620
167
4627,204
4599,584
Atlantic & St Lawrence
' +862,843 4,498 4,485
15,836,623
16.699,466
Atlantic Coast Line167
+66,363
167
4544,934
4611,297
Atlantic City
43,873,471 -2,724,844 4,434 4,460
41,148,627
Baltimore 8, Ohio
90
77
-21,587
674,710
653,123
B & 0 Term Trans!.
599
+99,749
627
1,574,859
1,674,608
Bangor & Aroostook_
118
118
+5,767
4,211,862
4206,095
Beaumont S L & West
201
-83,505
205
3,124,286
3,207,791
Bessemer & Lake Erie_
21
21
+231,078
4778,284
41,009,362
Belt Ry of Chicago_ _ _
36
37
304,304
-119,704
424.008
Birmingham Southern_
2,243
+609,866
2,243
19,625,394
19,015,528
Boston & Maine
265
+222,090
265
4975,156
4753,066
13uffalol& Susquehanna
568
-34,246
4,107,162
568
4,231,408
Buff Roch & Pitts_c_ _ _
46
-117,685
46
488,883
606.568
Butte Anaconda & Pac
233
+60.936
4647,779
233
4586.843
Canadian Pac fly in Me
237
+294,315
922,291
236
627,976
Caro Clinch & Ohio+100,358
279
277
41,346,406
41,246,048
Central New England_
668
631
+377,557
49,898,748
Central of New Jersey_ 410,2713,305
+365,848 1,915 1,915
6,127,677
5,761,829
Central of Georgia_c_ _
411
+90,395
411
41,582,255
41,491,860
Central Vermont
+225,511
341
1,005,125
341
779,614
Charleston & W N Caro
1,939
15,510,564
-71,891
2,232
15,582,455
Ohlo_c_
&
Chesapeake
998
+630,680 1,025
6,789,201
6,158,521
Chicago & Alton_c_ _ _ _
-40,234
5,691,305
966
966
5,731,629
__
Chicago & East
7,629
34,338,378
-672,118
7,744
35,010,493
Chicago & Nor West
433,023,559 435,358,425 -2,334,866 9,075 9,040
Chic Burl & Quincy.
+43,310
4296,181
60
60
4252,871
Chic Det & Can Gr Trk
-105,316 1,495 1,487
6,033,906
6,139,222
Chicago Great West_c _
+27,200
015
2,968,567
616
2,941,367
Chicago Ind & Loulsv c
29,453,606
30,934,306 -1,480,700 7,512 7,512
Chicago Milw & St Paul
+586,895 2,020 1,463
7,002,8E3
6,415,968
Ch Mil & Puget Sound_
255
810,718
-23,778
255
843,496
Chic Peor & St Louis_ _
-100,014
1,744 1,739
7,204,168
7,304,182
Chicago St Paul M & 0
350
350
-54,373
4700,973
755,346
Chic Terre H'te & Sou_
+96,813 1,015 1,036
4,565,394
4,468,581
Cine Ham & Dayton
330
336
-241,586
4,395,292
4,636,878
Cinc NO & Tex Pac_c_
197
-10,072
197
356,515
366,587
Coal & Coke
6,699,921
8,120,468 -1,420,547 1,957 1,032
Col & Southern (4 rds)
55
55
-59,652
.4328,342
4387,994
Colorado & Wyoming.
338
338
-234,016
798,090
1,032,706
Colorado Midland
58
58
-27,737
4231,215
4258,952
Columbia 8, Puget Sd_
129
-18,223
133
4261,427
4279,650
Copper Range
33
-44,721
33
436,907
481,028
Cumberland & Penna.
819
819
+656,394
10,224,009
9,567,615
Delaware & Hudson..
931
930
-105,866
17,518,112
17,412,246
Del Lack & Western..
-734,055 2,598 2,598
11,122,274
10,388,21
Denver & Rio Grande c
214
-11,146
214
420,542
409,396
Deny Northw & Pac..
76
+23,689
76
4401,922
4425,611
Detroit& Tol Sh Line_
-50,548
360
369
630,232
579,684
Detroit & Mackinac_c
191
+15,509
191
090,030
1,005,539
Detroit Gr Hay & Milw
441
-32,204
441
775,152
742,948
Detroit Tel & Imnt_c_
168
-763,044
191
2,289,822
3,053,766
Duluth & Iron Range.
293
317
2,560,712
5,004,750 -2,354,038
Duluth Missabe & Nor_
+80,029
93
03
4'303,519
4225,400
Dul R L & Winnipeg..
609
611
-168,534
1,413,870
1,582,404
Duluth So Sh & Atl_c_
781
832
-887,904
3,783,908
4,671,812
Elgin Joliet & Eastern
+393,647 2,202 2,230
422,143,914 421,750,267
Erie (2 roads)_c
310
-23,551
310
1,159,994
1,183,553
Evansv & Terre WM902
902
-320,854
3,542,930
3,863,784
El Paso & Southw_ _
583
583
+250,172
2,781,211
2,531,039
_
Coast
East
Florida
84
-5,140
84
a367,622
8372,762
Fonda Johnsv & Glov_
221
+57,320
221
4281,301
4223,981
Ft Smith & Western
196
235
-59,496
4422,913
a333,417
Or..
_
Ft Worth & Rio
307
307
+131,256
1,5 36,697
1,435,441
Georgia RR c
284
349
+74,688
4300,364
4225,676
Georgia 8, Florida_ _
395
+31,782
395
1,168,304
1,136,612
Georgia Sou & Fla_c_ _
336
+06,082
347
3,101,073
3,170,155
Grand Trunk Western_
26,410,594
29,548,410 -3,137,816 7,347 7,129
Great Northern
225
225
-534
4249,764
4249,230
Green Bay & Western_
307
307
-13,148
994,214
1,007,362
Gulf & Ship Island
350
350
-624,041
43,008,591
42,384,550
Hocking Valley
789
789
+284,619
42,045,391
42,330,010
Houston & Tex Cent
70
70
-85,066
4306,940
4221,874
Huntingdon & Bd Top
103
111
+18,859
4246,336
•
4265,195
Idaho & Wash North..
+860,710 4,574 4,551
28.972,189
29,838,899
Illinois Central_c
179
-10,318
179
502,360
492,042
Indianapolis Southern.
+35,899 1,160 1,160
4,036,034
4,071,933
Internet & Gt Nor_c_
558
+03,224 • 558
1,617,085
1,711,029
Iowa Central.c
175
176
+32,409
1,383,015
1,415,484
Kanawah & Michigan_
740
764
-13,107
875,675
832,568
Kan City Mex & Or_c_
-312,543 1,207 1,181
5,055,132
4,742,589
Kansas City Southern c
23
23
+11,643
276,467
288,110
Lecke & Wyom Vail..
11
11
-13,628
256,970
243,342
Lake Terminal
97
97
' +32,051
709,684
741,735
Lehigh & Hud My-1,441
+608,364
1,432
414,677,331
415,285,695
Lehigh Valley
170
-26,841
170
450,112
423,271
Lehigh & New England
94
96
+17,794
260,089
277,883
Lexington & Eastern..
255
+25,924
255
683,678
704,602
Louisiana & Arkansas_
351
+80,399
351
748,475
828,874
Louisiana fly & Nay_
-499,368 4,624 4,600
26,484,123
25,984,755
Louisville & Nashville c
200
-10,123
200
582,162
572,039
Lou Heed & St Louis..
932
+88,583
932
4,252,098
4,340,681
MaineCentral
167
184
+41,968
286.715
244,747
Manistee & Nor East'n
324
-16,141
324
4586,724
4570,583
Midland Valley
127
127
-20,666
387,214
366,548
Mineral Itange..c
9,905,673
11,108,918 -1,203,245 .3,763 3,532
M StP & SS M(2 rds)_c
177
+13,604
177
a354,884
4368,488
Minnesota & Int
+34,655 1,027 1,027
2,279,438
2,314,093
Minn & St Louls_c_ _
164
164
-11,761
459,251
447,490
Mississippi Central_c_ _
65
65
-52,003
378,298
431,201
Miss River & Bonne T.
365
-10,360
365
410,946
421,306
Missouri & Nor Ark...
3,072
3,394
+738,717
13,141,222
12,402,505
Mo Han & Tex(3 rds).c
197
237
+165,439
4334,429
4168,990
Mo Oklahoma & Gulf _ _
-439,917 7,234 7,171
25,209,118
25,949,035
Missouri Pee (2 rds).e.
+215,258 1,114 1,114
5,630,729
5,415,471
Mobile & Ohlo_c
65
65
-214,842
573,567
788,409
Monongahela
7
6
-143,710
375,371
519,081
Monongahela Connect's
+397,098 1,230 1,230
6,335,754
5,938.656
Nashv Chatt & St L_
48
48
+33,015
368,363
335,348
New Jersey & New Ylt _
276
282
'+37,043
4718,369
4681,326
New Orleans & Gt Nor
165
-49,860
165
4581,612
4631,472
Nevada Northern
13
-15,915
13
258,311
274,226
Sh..
South
Newburg &
195
-37,923
105
1,750,364
.
1,788,297
New Orl &No Eastern c
402
+31,872
404
896,976
865,104
New On Mob & Ohlo_c
264
+75,676
264
573,192
497,516
New Orl Tex 8, Mexico
48,808,663
46,970,799 +1,837,864 3,591 3,588
N Y Cent & Mud Riv_c
329
-52,912
320
1,872,846
1,925,758
Ch Ind & South_c_
55
-14,505
45
475,901
490,406
Ch Hal & Saginaw
247
-49,283
245
540,683
589,066
eine Northern_c_
+244,617 1,978 1,982
14,425,885
14,181,268
L.c.
St
&
Ch
Cm
Cl
43
+1,975
43
431,492
429,517
Det & Charleroix__
91
91
+10,441
4124,227
4113,786
Dunk Al V & Pitts..
2
2
+2,845
44,510
41,665
Chain
Fulton
106
+38,444
109
1,144,901
1,183,435
Indiana Harbor Belt
43
-7,369
43
44,461
37,092
Kankakee & Seneca.
88
+24,195
88
323,202
299,007
Lake Erie All & W
886
-46,714
886
2,570,881
2,524,167
Lake Erie & West..c
14
14
+6,219
430,228
a36,447
Little Falls & Dolgev
-968.085 1.662 1,662
23,713,128
22.745.043
Lake Sh & Mich So c
383
THE CHRONICLE
AUG. 121911.]
1
a These figures are for live months only in both years.
•
c These figures are furnished by the comnanv.
RAILROAD 'GROSS EARNINGS FOR
JULY.
In the previous article we have reviewed the earnings
of United States railroads for the half-year ended
June 30. In the present article we furnish a preliminary compilation of the gross earnings for the month
of July. As only eleven days have elapsed since the
close, of the month, this covers only the roads which
make it a practice to give out early preliminary estimates of their gross revenues. The list comprises
mainly Western grain-carrying roads and Southern
cotton-carrying roads, and for that reason is not
always an absolutely reliable guide as to the course
of earnings on the railroads as a whole, particularly ••
at this juncture, when the country is suffering from
business reaction, the effects of which. are usually'..:
more strikingly manifest in the case of the roads serving
384
THE CHRONICLE
[VoL.
the manufacturing and the iron and coal districts. so also did some of the winter-wheat points,
like Kansas
Taking the statement, however, for what it is worth, City, though other winter-wheat points, and more
it is gratifying to find that it makes a better comparison particularly St. Louis and Toledo, enjoyed increases.
than did the preliminary exhibits for the months im- Altogether the wheat deliveries for the four weeks
mediately preceding.
ending July 29 1911 aggregated 31,364,370 bushels, as
Our table comprises altogether 89,573 miles of road, against only 18,900,622 bushels for the correspon
ding
and on this mileage there is an increase of $2,149,002, four weeks of last year. There was also
a gain in the
or 3.39%. As in previous months, the three Canadian oats movement, but deliveries of corn,
barley and
systems which form part of our statement contribute rye fell below those of last year.
Altogether the grain
very important amounts of gain. Canada continues deliveries forrn the four
weeks of 1911 aggregated
to enjoy wonderful progress and prosperity, and the 55,129,620 bushels, as against
43,980,639 bushels in
gains on one of these Canadian roads has this time been 1910 and 36,344,352 bushels
in 1909. The following
swollen to unusual proportions because of the fact gives the details of the Western
grain movement in
that the Grand Trunk Ry. of Canada last year in July our usual form.
had to contend with a widespread strike of its employWESTERN FLOUR AND GRAIN RECEIPTS.
ees, causing serious interruptions of its business and Four wks.end- Flour. Wheat. Corn.
Oats.
Barley.
Rye.
lag July 29. (bbls.)
(bush.)
(bush.)
(bush.)
(bush.)
(bush.)
a large loss in revenue at that time. This year the Chicago
1911
496,872 11,508,100 4,668,600 6,317,700
565,500
46,700
1910
488,616 2,658,800 5,719,050 6,189,400 1,231,500
39,500
Grand Trunk has an increase of $1,057,487, the Milwaukee
1911
254,000
371,770
184,190
742,900
172,586
14,280
Canadian Pacific an increase of $631,000 and the
1910
232,225
436,180
405,670
938,400
383,400
17,340
LouisCanadian.Northern an increase of $250,850. Still the St.1911
200,470 4,339,455 1,778,510 2,451,900
29,903
1910
180,000 2,068,578 1,402,335 1,215,975
8,465
11,090
aggregate gain for the whole three is only $1,939,337, Toledo1911
2,523,000
179,900
223,500
2,000
1910
297,000
which, if deducted from the $2,149,002 increase shown Detroit
206,750
239,300
4,500
23,040
272,446
190,504
390,564
by our table, still leaves a small improvement for the
11991101
21,898
99,699
113,537
183,034
United States roads, whereas in other recent months Cleveland
1911
1,741
31,888
296,122
141,370
1,125
1910
4,961
62,207
169,381
296,439
2,026
our preliminary totals, treated in the same way, have Peoria1911
195,900
372,000
826,292 1,104,469
38,400
1,100
recorded no gain at all, but a substantial loss. To
191(1
164,800
177,061 1,015,118
888,100
53,990
74,400
mazah1911
that extent the July results are an improvement over
47,706
872,151
14,436
125,253
128
28
1910
55,600 1,444,027
51,135
183,840
678,011
5,061
Minneapolisthose for the months preceding.
5,080,760
283,940
688,850
152,200
39,590
1199101
4,247,870
630,570
833,940
601,480
On the other hand, in July of last year, when gains Kansas
50,170
City1911
5,992,800
1,495,600
700,200
were still the rule, the addition was of smaller extent 1910
7,409,200
956,000
315,300
than for the months immediately preceding. Our Total of all1911
1,219,728 31.364,370 9,918,094 12,783,706
929,939 133,511
early statement then showed $5,247,226 gain or
1910
1,148,100 18,900,622 10,669,546 11,348,728 2,880,182 181,56/
Jan.
to
I
9.02%, whereas in June the gain by our early returns July 29.
was $8,356,824 or 15,14%, and in May $8,772,771 or Chicago
1911
2,722,615 18,478,002 55,428,100 43,123,600 7,524,500 4E0,200
1910
16.98%. In 1909 our early compilations for July Milwaukee- 4,443,593 8.945.700 51.031,700 45,430,800 15,001,400 577,500
1911
1,643,325 2,874,030 3,660,870 6,522,004 3,882,166 442,600
registered an increase of $4,182,933, or 8.42%. In
1910
1,686,020 3,598,420 4,604,330 6,003,650 6,797,293 436,390
St. Louis1911
1,215,130 9.341,247 12,419,000 10,838,000
1908, of course, there was a heavy loss, owing to the
470,986
97,335
1910
1,435,990 7,604,420 15,087,662 11,066,435
78,522
915,365
great industrial depression prevailing at that time, and Toledo
1911
3,282,000 2,676,000 1,354,500
3,000
1910
1,190,000 2,506,650 1,241,900
73,150
our July statement then recorded a falling off of Detroit
1911
123,867
836,956
1,939,928
1,427,491
$11,242,352, or 16.57%. Below we furnish a sum- 1910
128,662
520,121 1,346,648 1,137,084
Clevelandmary of our early July totals each year back to 1896.
1911
'17,723
252,671 2,366,007 1,621,543
29,291
516
1910
52,981
Mileage.
Gross Earnings.
July.
Year
Year InGiven. Pieced. cese.
Year18913 _
1897 - - 1898 __ -1899 _ _
1900 - _ _
1901
1902 _
1903 - _ _ _
1904 _ 1905 - _ _ _
1906 _ _ _
1907 -- -1908
1909 _ - 1910 _ -1911 _ --
Roads
126
122
126
111
99
88
79
75
67
55
68
65
53
52
50
49
Miles.
93,193
96,605
90,942
94,980
93,573
91,846
94,718
97,910
85,558
75,398
96,484
97,152
82,225
78,680
88,593
89,573
Miles.
92,413
95,286
90,417
93,906
90,528
89,891
92,947
96,049
83,243
73,629
94,276
96,231
80,944
77,193
85,507
87,624
Jan. 110
1896 ..._
1897 -1808 _ _ _ _
1899 -- -1900 _ _
1901 _
1902 _ _ _
1903 _ -1904 _ _ _
1905 1906 -.1907
1908 _
1909 _ _ _ _
1910
1911
July 31.
121 90,918
120 96,048
125 90,920
108 94,604
99 93,573
85 88.374
78 94,573
75 97,910
67 85,558
54 75,141
68 96,484
65 97,152
53 82,225
51 77,616
50 88,593
48 89,249
90,118
94,729
00,395
93,530
90,628
86,419
92,802
06,049
83,243
73,372
94,276
96,231
80,944
76,170
85,507
87,300
0.84
1.38
0.58
1.14
3.36
2.17
1.91
1.93
2.78
2.42
2.34
0.95
1.58
1.93
3.61
2.24
Year
Given.
39,923,091
43,055,387
39,401,085
49,779,446
48,884,012
52,849,645
61,197,348
69,395.816
54,602,603
50,144,735
81,578,288
90.308,407
56,560,742
53,004,004
63,504,951
65,753,422
Year
Preceding.
Increase(+)
or
Decrease (-).
$
38,504,094 +1,418,997 3.68
41,056,206 +1,999,181 4.86
38,822,059
+579,026 1.49
42,625,375 +7.154,071 16.78
46,085,544 +2,798,468 6.07
46,334,619 +6,515,026 14.06
56,849,967 +4,347,381 7.64
61,980,921 +7,414,895 11.00
55,607,185 -1,004,582 1.80
46,669,292 +3,485,443 7.47
71,186,181 +10,392,107 14.60
80,982,305 +9,326,102 11.52
67,803,094 -11,242,352 16.57
49,721,071 +4,182,933 8.42
58,257,725 +5,247,226 9.02
63,604,420 +2,149,002 3.39
0.881254.840,255 238,948,747 +15.891,508 6.65
1.38 274,635,194 272,821,160 +1,814,034 0.66
0.581276,240,565 247,351,740 +28,888,819 11.68
1.141 321,435,882 298,502,817 +22,933,065 7.68
3.36'336,441,873 299,297,422 +37,144,451 12.41
2.03317,871,965 288,590,907 +29,281,058 10.14
1.911400,633,078 369,655,341 +30,977,737 8.38
1.93 462,741,784 408,483,911 +54,257,873 13.29
2.78365,668,378 372,108,550 -6,440.172 1.73
2.42 334,014,442 312,876,815 +21,137,627 6.75
2.34 541,466,463 468,552,630 +72,913,833 15.56
0.95 592.730,696537.582,604 +55,168,092 10.24
1.58 361,745,684 436,752,181 -75,006,497 17.18
1.90 346,539,778 311,855,551 +34,684,227 11.12
3.61 437,424,445 377,461,389 +59,963,056 15.90
2.26 439,009,431 434,380,212 +4,629,229 1.07
1
Note.-Neither the earnings of the Mexican roads nor the mining
operations
of the anthracite coal roads are included in this table.
• Western roads had the advantage the present year
of a large increase in the wheat movement. The chief
benefit, however, from this accrued in spring-wheat
territory, more particularly at Chicago and Minneapolis. Duluth had smaller arrivals than last year, and
200,400 3,416,806
Peoria1911
1,166,429
638,752 7,767,392
1910
1,823,384
498,353 9,061,486
Duluth1911
323,785 5,993.345 1,282,533
423,610 11,249,076
1910
663,828
Minneapolis1911
32,065,907 4,060,211
1910
47,754,810 5,223,671
Kansas City1911
11,709,110 8,922,100
1910
17,334,550 10,651,850
Total o all1911
1910
2,238,062
65,338
7,242
4,030,458
6,973,962
817,832
1,329,312
112,300
253,600
1,498,419
482,843
4,900,705 4,067,146
56,238
319,907
5,400,850 5,023,270
7,514,648 9,820,038
483,880
920,700
2,989,100
2,179,200
7,212,864 85,472,020 100522,141 78,896,865 18,230,888 1,656,069
9,994,220 98,894,850 103784,641 88,747,346 37,986,792 2,761,680
Cotton traffic on Southern roads is hardly ever
of large extent in July, but the present year was
smaller than usual. At the Southern outports the
receipts for the month were only 36,187 bales, against
126,584 bales in July 1910 and 93,744 bales in July
1909. The overland shipments were 16,253 bales,
against 58,558 bales in July last year.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN JULY AND FROM
JANUARY 1 TO JULY 311911, 1010 AND 1900.
July.
Ports.
1911.
Galveston
Port Arthur, ttc
New Orleans
Mobile
Pensacola, Jo
Savannah
Brunswick
Charleston
Georgetown
WIlinIngton
Norfolk
Newport News, Sze
Total
bales.
1910.
Since January 1.
1909.
6,793 8,495 32,873
398
100 1,998
12,247 28,228 24,602
42 11,054 10,562
1,734 1,762 9,116
13,805 27,656 8,084
11 12,813
18
200
335
371
768 35,941
1911.
674,303
257,286
608,332
58,187
88,128
312,067
53,286
37,453
756
75,295
135,957
1,140
1910.
1909.
-693,806 1,220,962
107,615 234,157
597,960 890,021
84,611 142,353
59,215
92,672
248,544 409,918
39,817 106,871
36,251
61,858
792
1,356
41,806 114,245
172,964 206,928
7,269
15,444
208
65
129
3,643
1,564
----.36,187 126,584 93,744 2,302,100 2,090,650
385
THE CHRONICLE
AUG. 12 1911.]
As a result of the loss in their cotton traffic, and
also the depression in the iron and steel .industry,
several of the Southern and Southwestern roads are
obliged to report decreases in earnings. The list includes the Southern Ry., the Central of Georgia, the
International & Great Northern, the St. Louis Southwestern and the Texas & Pacific. On the other hand,
the Louisville & Nashville, the Mobile & Ohio and the
Seaboard Air Line are able to report moderate increases. Both the Colorado roads show decreases, but
. whereas the loss in the case of the Denver & Rio
Grande is small, that of the Colorado & Southern
reaches $234,686. The losses of this latter road
have in recent months been of striking extent. Gains
come from a number of roads in the Middle West, including the Illinois Central, the Chicago & Alton and
the Wabash. It is a guess that the coal traffic of these
roads was of larger extent than last year, when
mining in the bituminous coal regions was largely
suspended. In the following we show all changes for
the separate roads, both increases and decreases, for
amounts in excess of $.30,000.
EARNINGS OP SOUTHWESTERN GROUP.
July.
Colo & South *
Deny & Rio
Internet &0 N
M K & Tex_a_
Mo Pacific_.._
St Louis S W..
Texas & Pacific
Total
1911.
1,108,529
1,960,700
587,000
2,153,989
4,315,000
820,778
1,100,774
1910.
1909.
1908.
1907.
1906.
$
$
1,279,809
1,990,516
572,030
1,913,863
4,008,199
798,793
1,018,727
1,240,374
1,684,824
502,511
1,868,207
3,621,274
777,106
966,025
1,190,244
2,027,337
571,622
2,224,535
4,112,562
860,604
1.215,346
1,017,221
1,696.7(16
562,279
1,848.354
3,861,349
732,744
1,010,338
2.012,100
692.000
2,140,479
4,145,000
910,470
1.133,015
12,046,770 12,376,28.5 11,581,937 10,660.381 12,202,340 10,728.991
*Includes al affiliated lines except Trinity & Brazos Valley RR.
a Includes the Texas Central in 1911 and 1910.
GROSS EARNINGS AND MILEAGE IN JULY.
Gross Earnings.
Name of Road.
1911.
Mileage.
Inc.(±) or
1910.
Dec. (-). 1911. 1910.
$
. .
309
309
+ 1.077
353,363
$
357,440
Alabama Great Southern_
Ala New On & Tex Pac
195
270,373
195
- ",,886
276,259
New Orl lk Nor East_ _
142
142
123,507
134,422
-1 .915
Alabama 63 Vicksburg
10.3.,490 125,417 -1 . 827 171 171
Vicksb Shreve & Pao-301
301
178,197
151,573
-1-:' : 324
Ann Arbor
670
+• ; 557
212,911
228,468
681
Atlanta firm do Atlantic566
863,301
572
'842,807
+2 , 194
Buffalo Rochester & Pitts
1,475,950 1,225,100 +2: •,850 3,608 3,287
Canadian Northern
9,291,000 8,660,000 +631,000 10,480 9,913
Canadian PaC1130
964,900 1,008,000
-43,100 1,915 1,915
Central of Georgia
+1,346 2,239 2,223
2.620,041 2.688,695
Chesapeake & Ohio
998
1,260,953 1,170.991
+89,962 1,025
Chicago & Alton
951.437
966.588
+15,151 1,495 1,487
Chicago Great Western_ _
615
616
547,473
528,187
+19,286
Chicago Ind & Louisville..
336
336
743,154
752,839
+9,685
Cino New Orl & Tex Pac_
Colorado & Southern_ _ - - 1,108.529 1,343,215 -234,686 1,957 2,032
1,960,700 2,012,100
-51,400 2,598. 2,553
Denver & Rio Grande_
99,522
103,219
-3,697
369
360
Detroit 63 Mackinac
441
441
151,371
-20,522
130,849
Detroit Toledo & Ironton
313,502
611
609
-17,057
296,445
Duluth South Shore & Ati
395
395
191,990
-1,152
190,838
JULY.
IN
_
Fla_
EARNINGS
Georgia Southern &
PRINCIPAL CHANGES IN GROSS
Decreases. Grand Trunk of Cinada_i
Increases.
4.528
3,179,896
4,528
+1,057,487
4,237,383
Western/
Grand
Trunk
$234,686
$1,057,487 Colorado & Southern
Grand Trunk
Dct Or Hay & Milw_ _
135,139
631,000 Southern Railway
Canadian Pacific.
Canada Atlantic
105,000
250.850 Internet 63 Great Northern
Canadian Northern
+5,303 7,347 7,129
5,797,785 5,792,462
80,698 Great Northern
185,949 St Louis Southwestern_ _ _
Illinois Central..
+155,949 4,574 4,551
4,990,740 4,804,791
51,400 Illinois Central
_
170,000 Denver & Rio Grande_
Missouri Pacific
692.000 '-105,000 1,160 1,160
587,000
North'n
&
Internet
Great
43,100
110,891 Central of Georgia
Minn St P & S S AI
558
558
242,890
+6.480
249,370
$4.552 Iowa Centre) _
89,962 Minn & St Louis
Chicago & Alton
740
764
161,354 . -29,540
131,814
33,728 Kansas City Mex & Orient
79,399 Alabama N 0 & Texas Pao
Wabash
9,600
+55,050
4,624
4.201,600
4.256,650
&
Louisville
_
Nashville..
$2,241
77,387 Texas & Pacific_
Seaboard 'Air Line
324
324
+18,964
82,709
101,673
Midland Valley
58,861
Mobile & Ohio
127
127
56,651 • +2,341
58,992
Mineral Range
55,050
Louisville & Nashville_ _ _
-34,552 1,027 1,027
413,569
379.017
&
St
_
Minneapolis
Louis..
30,644
Toledo St L & Western
Minn St Paul & S S M.... _ 2,014,101 1,903,210 +110.891 3.783 3,532
+13,510 3,394 3,072
Missouri Kane & Texas_a 2,153,989 2,140,479
Representing 9 roads
Representing 13 roads
4,315,000 4,145,000 +170,000 7,234 7,171
in our compilation_ _ $760,044 Missouri Pacific
in our compilation_ _ _$2,797,480
+58.561 1,114 1,114
835,272
897,133
Mobile & Ohio
184
-2,753
184
31,680
28,927
Nevada-California-Oregon
180
180
-10,120
52,305
42,155
Rio Grande Southern...._ _
-89,698 1,499 1,476
910,476
820,778
St Louis Southwestern_ _ _
+77,387 3,046 3,012
1,579,632 1,502,245
Seaboard Air Line
4,651,012 4,786,651 -135,639 7,039 7,050
Southern Railway
92
92
+1,513
y7,555
Y9,068
Tenn Ala & Georgia
-32,241 1,885 1,885
& Pacific
1.100,774 1.133.015
Texas
247
247
+7,934
EARNINGS OP NORMWESTERN AND NORTH PACIFIC GROUP.
93,903
101,837
Toledo Peoria & Western_
-,--__
451
451
+30,644
288,342
318,986
Toledo St Louis & West'n
+79,309 2,514 2,514
2,423,830 2,344,431
Wabash
1906.
1910.
1911.
1909.
1007.
1908.
July.
+20,270 1,372 1,372
671,619
700.889
----------------------------- Yazoo & Miss Valley__ _ _
$
$
65,815,948 63,664,818 +2,151,130 89,573 87,624
Total (49 roads)
Canadian Pao. 9,201,000 8,660,000 7,140.030 6,292,881 7,008.274 5,967.968 Net
increase (3.39%)_ _ _
760,270
714,212
951,437
865,024
613,763
Chic Gt West.• 960,588
In
(not
in total)eluded
Roads
Mexican
283,724
296,445
329,912
313,502
226,115
285,234
Dul So Sh & At
+3,797 1,035 1,025
710,143
713,940
of Mexico__ _
Great Northern 5,797,765 55,792,462 55,314,938 54,450,493 5,640,054 5,023,951 Interoceanic
361
375
-46,0Q
y474,000
y427,600
Railway
Mexican
249,370i
242,890
234,825
245,611
231,712
252,739
Iowa Central__
6,147 6,166
+11,777
Mexico_r
of
5,288,124
5,276,347
Rys
National
379,017
318,575
362,814
413,569
313,014
366,760
!Jinn & St L__
r
a_2.014,101
1,903,210
1,697,145
1,843,816
1.711.950
1,609,371
StP&SSM
Id
---------------I
--------a Includes the Texas Central in both years.
18,094,280 18,277,070 15,936,675 13,737,349 10,144,693 14,286,458
Total
z Now includes Mexican International In both Years.
y These figures are for three weeks only in both years.
*Includes Mason City & Fort Dodge and the Wisconsin Minnesota & Pacific In
1911, 1910, 1900'and 1908.
a Includes Chicago Division in 1911, 1910, 1009 and 1908; for previous years we ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S.
have combined Minn. St. Paul & S. S. M. and Wisconsin Central.
-The public sales of bank stocks this week aggregate 893
S Actual figures of earnings are now used for comparison.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
shares, of which 380 shares were sold at auction and 513
To complete our analysis, we furnish the following
six-year comparisons of the earnings of leading roads,
aranged in groups:
I
s
s
s
1910.
1900.
1909.
1911.
1907.
1908.
-----$
'• 3
$
$
842,807 0796,585
560,092
863,301
785,372
653,572
Buff 'loch & P
528,187
507,156
487,232
499,134
453,602
547,473
Chic Ind & Lou
Or Trk of Can)
Or Trk Wes} 4,237,383 3,179,896 3,491,184 3,320,114 3,950,937 3,606,234
Det GII&MI
Canada AU)
Illinois Central 54,990,740 54,804,791 54,330,861 4,253,257' 5,111,937 4,342,146
93,903
99,100
83,608
93.394
01,364
101,837
Tol Peo & Wes
288,342
304,202
333,153
341,893
293,814
318,080
Tot St L ii Wes
2,344,431
2,238,365
2,275,341
2,309,858
2,077,977
2,423,830
Wabash
July.
Total
13,483,550 12,082,357 11,732,037 11 143 700 13,092,525 11,723,222
a No longer ncludes receipts from outside operations.
S No longer includes receipts for hire of equipment, rentals and other items.
•
EARNINGS OF SOUTHERN GROUP.
July.
Ala Gt South.,
Ala NO&TPN 0 & N E.
Ala & \ticks
Vicks Sh & P
All Birm & Atl
Central of Oa.
Champ dcOhloc
Cia N 0 & T P
Lou & Nash b.
Mobile de Ohio
Seaboard A L_
Southern Ry__
Yazoo & M V
Total
1911.
1910.
357,440
353,363
1909.
1908.
1907.
-$
3
279,874
293,623
361,087
240,815
212,106
269,520
121,332
117,011
122,977
106,298
108,300
131,698
182,662
141,788
155,036
38
.372,9
931,262
954,364
2,410,007 2,095,132 2,390,152
662,013
633,181
770,935
3,865,980 3,680,352 4,120,037
783,566
727.166
008,485
1,361,549 1,186,353 1,290,861
4,360,497 4,086,061 4,789,909
613,930 a584,551
721,114
-17,582,374 17,542,608 15,891.461 14,797,486 16,903,975
270,373
123,507
108,490
220,468
964,900
2.690,041
752,839
4,256,650
897,133
1,579,632
4,651,012
700,889
276,259
134,422
125,417
212,911
1,008,000
2,688,695
743,154
4,201,600
8:18,272
1,502,245
4.786,651
071,619
1906.
323,768
243,841
107,446
115,450
117,143
053,936
1,927,910
739,588
3,711.760
804,350
1,179,686
4.479,795
588,467
15,293,140
a Includes, beginning w th this year, some large items of income not previously
Included In monthly returns.
S Includes Louisville ifc Atlantic and the Frankfort & Cincinnati in 1911, 1910
and 1909.
c Includes Chesapeake & Ohio of Indiana, beginning July 1 1910.
shares at the Stock Exchange. No trust company stocks
were sold. Three hundred and eighty shares of stock of the
Audubon National Bank, whose directors have recommended
that the bank should go into liquidation, were sold at 61-65.
The last previous public sale of the stock was made in May
at 102.
Low.
Shares. BANKS-New York.
$80 Audubon National Bank__ 61
.243 Commerce, Nat. Bank of...... 205
204 %
*250 Fourth National Rank
*20 Mechanics' & Metals Nat.Bk. 271
High.
65
2163-i
205
271
Close.
61
205
205
271
Last precious sale.
May 1911- 102
Aug. 1911- 216
July 1911- 206
July 1911- 270
• Sold at the Stock Exchange.
-The re-apportionment bill, increasing the membership
of the House of Representatives, was signed by President
Taft on the 8th inst. As stated last week, the new law
changes the membership of the House from 391 to 433 on
the basis of the new Census, and makes provision for two
additional members (giving a total of 435) when Arizona
and New Mexico become States.
-The Congressional inquiry into the American Sugar
Refining Co. and other corporations engaged in manufacturing or refining sugar is reported to have been completed.
The committee, of which Congressman George W. Hardwick
is Chairman, expects to report its findings to Congress at
the December session.
-In a public conference yesterday the Senate and House
conferees reached an agreement on the wool tariff revision
bill and fixed upon a duty of 29% ad valorem on raw wool
of all classes. Under Senator La Follette's bill, passed by
386
THE CHRONICLE
the Senate on July 27, two classifications were made, the
first class being subject to a duty of 35% and the second class
to a duty of 10% ad valorem; the Underwood wool bill,
passed by the House, carried a duty of 20% on raw wool, all
• wools being put into one class. The 29% rate accepted as a
• compromise yesterday was suggested by Senator La Follette.
In effecting the compromise, the Senate conferees, it is understood, agreed to accept the House classification on raw
wool and to make a uniform rate of 29% on all classes.
—Senator Joseph W. Bailey of Texas resigned yesterday
• as a member of the National Monetary Commission, his
• resignation being accepted by the Senate. Senator Bailey
is said to have announced that he would have objected to
• the majority report of the Commission and that if the latter
were discharged by December 4, as proposed by Senator
Cummins, there would not be sufficient time for him to pre• pare his dissenting report.
—New uniform rules, to go into effect Sept. 1, have been
adopted by the Philadelphia Clearing House regulating the
• allowance of interest on out-of-town checks deposited for
• collection in that city. Their purpose is to cover loss of
; time necessitated by the collection of country checks. According to the "Philadelphia Ledger," the following are
• some of the periods established:
Discretionary—Albany, Baltimore, Bayonne, Boston, Camden, Hoboken,
• Jersey City, Newark, New York, Philadelphia, Providence.
Three Days --Connecticut, Delaware, District of Columbia, Illinois,
' Indiana, Maine, Maryland, Massachusetts, Missouri, New Hampshire,
New Jersey,• New York, Ohio, Pennsylvania, Rhode Island, Vermont,
• Virginia, Canada.
Excepting all points declared discretionary:
•
Five Days—Alabama, Arkansas, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, North Carolina,
• Oklahoma, South Carolina, Tennessee, West Virginia, Wisconsin.
Seven Days—Arizona, California, Colorado, Idaho, Montana, Nebraska,
Nevada, New Mexico, North Dakota, Oregon, South Dakota, Texas, Utah,
Washington, Wyoming.
Sight items, three days additional in all States where grace is allowed.
—In its "Annual Crop and Business Report", just issued
the Continental & Commercial National Bank of Chicago
notes, with respect to general business, that, according to
testimonials from men prominent in all branches of industry,
fundamental conditions, compared with a year ago, show a
decided improvement. In considering, on the other hand,
some of the retarding influences, the summary states:
Offsetting in a measure these favorable fundamental and collateral influences reflected in the advices received by the Continental & Commercial
, National Bank in the preparation of its annual summary regarding crop
and business conditions and outlook, appear as retarding factors: the
approach of a Presidential year and the usual increased activity of partisan
• leaders in providing campaign material; the uncertainty growing out of
• the continuation of Investigation into past corporation management, as to
the ultimate effect of the rate decisions on railroad income, as to some of the
late crops and resulting from the agitation for tariff revision; the enormous
. capital creations In the way of new securities, yet unabsorbed; the disposition of investors to discriminate in favor of bonds yielding largereturns or In
favor of new underwritings; the rather high cost of new capital as compared
with low cost Of money for more liquid uses; the tendency of the more
Irresponsible to create distrust of all vested interests regardless of facts and
disposition on the part of many not to discriminate between the good and
the bad; and the continued sluggishness of movement in unlisted bonds.
As to agricultural conditions, it is pointed out that though
the Northern and Western sections of the country have
suffered, the South has been blessed with a great productivity. According to the summary "its yields of all grains,
• except corn, hti,V,e' been:above the average, and its cotton
'production promiSes to make a record yield. The only
4.danger now cOnfronting this great staple, which provides
so large a Part of OM'.. export
. trade, is too much rain. Neither
•,.
.dry nOr hot weather Will harm it, rather increase the promise".
It is added that the correspondents of the bank report "a
"crop promise. how'of 14,700,000 bales, and with only a
' normal linpaitiherit.i fiom now on the promise may be more
than fulfilled and not only the fourteen million but the
fifteen Million record be made." The following comments
are made in the Summary with reference to the growing
grain crops:.
Our reports show a total wheat production.of 642,000,000 bushels, comparing with the Government's final yield of. 695,000,000 last year, which is
equal to a ten-years' average production and 50,000,000 more than the
'country requires for bread And'Seed: The aggregate yield of oats Is 824,-,
. 000,0017 bushels, nearly 300030.0,000less than.the Government's final esti»
. mate last year, and only 25,000,00p..less than a ten years' average production. 'Corn'in the making,'and while estimates at this period are subject
• to great changes in the actual, our correspondents show an aggregate promise
:..of a crop of 2,828,000,00 bushels, which is just 10% under last year, and
100,000,000 bushels over a ten-year average. The hay crop is estimated by
our correspondents at 43,000,000 tons, or 17,000,000 tons under last'year
z and 25% under the ten-year average. The minor grains show a variation,
_barley a,s much as last year, rye 10% larger, rice, one of the best crops in
years, and flax.Problematic,depending upon rainfall in the Northern States,
where It is now chiefly ralsect.' Potatoes suffered as severely as oats.
• .
.
. . • • . .• ..• .„ • . • •
•
The vegetable out-turn has been affected by the drought, and there is a
in thank of the priffelpal'artieleaof consumption, notably potatoes,
which last year fineniihdd a crop Of 280,000,000 bushels, but which this year
[VoL.
Is likely to fall under 200,000,000 bushels, the heaviest losses being in the
Western and Central States; northward the crop has been fairly good.
—A resolution making 3% the uniform rate of interest to
be paid by its members was adopted by the Central Pennsylvania Bankers' Association at its annual meeting held at
Du Bois on July 26. H. B. Powell, of Clearfield, is President
of the organization.
—The conviction of Christopher C. Wilson, President of
the United Wireless Telegraph Co.; Francis X. Butler, its
Counsel, and W. W. Tompkins, President of the New York
selling agency of the company, was upheld on Thursday by
the United States Circuit Court of Appeals. All were convicted in May on an indictment charging them with misusing the mails to defraud investors in the stock of the company. Wilson was sentenced to three years in the Federal
penitentiary at Atlanta; Butler to two years in Atlanta, and
Tompkins to one year in the New York County penitentiary.
George H. Parker, the Western sales agent, who was convicted at the same time,wassentenced to two yearsimprisonment, and a sentence of one year in the county penitentiary
was imposed on William A. Diboll, Treasurer of the company. In Treasurer Diboll's case, however, the imprisonment sentence was subsequently remitted and instead a fine
of $2,000 was imposed.
—Charles S. Millington, Assistant Treasurer of the United
States at New York, has recommended to the Secretary of
the Treasury the appointment of Edward W. Hale as Cashier
and Deputy Assistant Treasurer and that of Ulysses S. Grant
as Assistant Cashier and Acting Assistant Deputy Treasurer
of the local Sub-Treasury. Mr. Hale, who will succeed the
late George W. Marlor, has been in the service of the local
Sub-Treasury for thirty-seven years and had previously, for
eleven years, been connected with the Treasury at Washington. Mr. Grant, a nephew of Gen. U. S. Grant, has been
associated with the Sub-Treasury for thirty years.
—The Nassau National Bank of Brooklyn Borough has
been designated a depositary for postal savings bank funds,
and is the first financial institution in the Borough named to
serve in this capacity.
The First National Bank of Boston and the Mutual
National Bank of that city have also been assigned as
depositaries under the Postal Savings Bank system.
—Depositors in the Kings County Trust Co. and the
Home Trust Co. of Brooklyn were notified last week that
their check accounts would be charged a fee of $1 a month
when their balances were less than $200. Other trust companies in Manhattan and Brooklyn already have such a rule.
—Charles A. Hanna, recently installed as Chief Examiner
of the New York Clearing House Association, has named the
following as assistants in his work of supervision: Edward E.
Watts, formerly National Bank Examiner;Frank W.Wheeler,
formerly with the Hanover National Bank; William G. Bliss,
of Marwick, Mitchell & Co., certified public accountants;
Ames Higgins, of the National City Bank; Louis S. Brady,
Assistant Cashier of the New Netherlands Bank; Stanley
Hagermann, of the Fifth Avenue Bank; Chester A. Shannon,
formerly in the office of Secretary of the Treasury MacVeagh
and prior to that in the Comptroller's office; George F.
Cogswell, of the Fourth National Bank, and Frank C.
Campbell, Assistant National Bank Examiner. It is understood that some of these candidates have not as yet signified
their acceptance of the new position tendered them.
—Final arrangements for the merging of the Mercantile
Trust Co. of this city with the Bankers Trust Co. were
perfected this week. While the merger, with the sanction
of the stockholders on Wednesday, became effective on the
10th inst., there is to be no consolidation of the two offices
until the completion of the new Bankers Trust Co. Building,
at Wall and Nassau Streets, early the coming year. In the
meantime each office will conduct its own business as heretofore, that of the Mercantile Trust Co at 120 Broadway
being known as the Mercantile office of the Bankers Trust
Co., in charge of its present officers. At Wednesday's
meeting of the stockholders of the Bankers Trust, two
new members were added to its board, namely William C.
Pofllon, President of the Mercantile Trust, and Rudulph
Ellis, President of the Fidelity Trust Co. of Philadelphia.
Mr. Poillon will also be identified with the management of
the Bankers Trust as a Vice-President, and several other
officers of the Mercantile—Harold B. Thorne, Vice-President;
Guy Richards, Secretary; George W. Benton, Treasurer, and
Bethune W. Jones, Assistant Treasurer—have likewise been
chosen to the official staff of the Bankers Trust, which, as
named by the directors this week, is made up as follows:
AUG. 1`1 1911 ]
THE CHRONICLE
E. C. Converse, President; Benjamin Strong Jr., W. C.
Poillon, D. E. Pomeroy, F. I. Kent and Harold B. Thorne,
Vice-Presidents; F. N. B. Close, Secretary; George W. Benton, Treasurer; Guy Richards, Be'hune W. Jones, H. F.
Wilson Jr., Assistant Secretaries; H. W. Donovan, R. H.
Giles, Assistant Treasurers, and I. Michaels, Trust Officer.
The capital of the Bankers Trust Co. was increased on
Monday from $3,000,000 to $5,000,000 in accordance
with the plan whereby the stockholders of the Mercantile
Trust (capital $2,000,000) are to exchange their holdings,
share for share, for stock in the Bankers Trust Co. The
consolidation agreement also provides for the payment to the
stockholders of the Mercantile of a cah dividend of $50 a
share on their stock. The union of the two companies results in an organization with deposits of over $150,000,000,
the figures for the combined institution on Thursday having
been $155,047,138; the cash on hand and in bank is $31,348,751, while the total resources are $177,371,067. The
proceedings for uniting the two companies follow the acquisition in June from the Equitable Life Assurance Society of
its holdings in the Mercantile Trust (12,941 shares) by interests associated with the Bankers Trust Co.
—In conformance with the arrangements for readjusting
its capital, the Windsor Trust Co. of this city announces that
the additional $1,000,000 contributed to the surplus has been
paid in. Under the readjustment process the capital is
$1,000,000 and the surplus $1,130,000.
—The Harriman National Bank, 5th Avenue and 44th
Street, has been appointed by the State Banking Department depository for the lawful money reserve of the State
banks of deposit and discount and trust companies of the
State of New York. In its last report to the Comptroller
(June 7) the bank showed deposits of $6,400,000, and the
amount is said to have been substantially increased since
that date.
—The proceedings under which the Nineteenth Ward and
the Twelfth Ward banks of this city are to be merged with
the Fourteenth Street Bank will be put before the stockholders of the three institutions for ratification on the 21st
inst. The details of the merger were outlined by us a week
ago.
—Eugene E. Boross, Vice-President of the HungarianAmerican Bank, 147 Fifth Avenue, New York, has resigned
his office. He was one of the principal organizers of this bank
in 1907, which began business at 32 Broadway. In our Jan. 14
1911 issue we announced that the stockholders had voted to
increase the capital from $200,000 to $1,000,000 and that control of this institution had passed to the Hungarian Commercial Bank of Budapest and the Central Credit Bank of Hungary of Budapest. Since its organization the business of the
Hungarian-American Bank has not come up to expectations.
The bank's deposits were only about $363,600 on June 7th
last and its surplus but $19,600. The capital has not been
increased, as contemplated, although a reorganization is
planned and it may be changed to a trust company.
—Horace Everett Garth, at one time President of the
former Mechanics' National Bank of this city, died on the
31st ult. at Huntsville, Ala. Mr. Garth was born in Todd
County, Kentucky, March 28 1837. He was made Cashier
of the Mechanics' National Bank in 1883 and became President in 1886.
—The marble and granite structure known as the "Old"
Mutual Life Building, on the southeast corner of Broadway
and Liberty Street, is being demolished by house-wreckers
to make way for the new home of the Guaranty Trust Co.
of New York. The building was erected by the Mutual Life
Insurance Co. during the Civil War in 1864 and is one of the
few remaining landmarks on lower Broadway. It is but a
stone's throw from the historic Trinity Church and diagonally across the corner from the lofty Singer tower. At the
time of its erection it was known as one of the handsomest
and costliest buildings in New York City. The Mutual Life
Insurance Co. occupied it until 1884, when its present
building on Nassau Street was erected. As is known, the
property was recently purchased by the Guaranty Trust Co.
of New York and the purchase price is said to have been
nearly $2,000,000. This is at the rate of about $175 a
square foot. The new home of the Guaranty Trust Co. will
be four stories in height, rising from the sidewalk about 120
feet and will be for the exclusive use of that institution.
It is expected that the building will be completed in the
summer of 1912.
—The deposits of the Prospect Park Bank of Brooklyn have
increased $150,000, or from $575,000 to $725,000, since the
387
company moved into its new offices, corner of Flatbush and
Church avenues, six weeks ago.
—A charter was granted to the Greenpoint National Bank,
Greenpoint, L. I., by the Treasury Department on July 20.
The bank is expected to be ready for business within two
months. It will have a capital of $200,000, surplus of
$100,000,and will belocated at 140-142 Greenpoint Ave. The
officials will be: George A. Morrison, President; James A.
McCafferty, First Vice-President; George H. Rowe, Second
Vice-President, and Walter Wilmurt, Cashier.
—William E. Stecher, formerly Assistant Secretary of the
Queens County Trust Co. at Jamaica, Long Island, was
elected Secretary on the 4th inst., succeeding John L. Wyckoff, deceased. Harry V. Hoyt, the company's paying teller,
was chosen Assistant Secretary.
—The auction sale of ten shares of capital stock of the
Suffolk National Bank, Riverhead, Long Island, for the
estate of Henry P. Terry resulted in the sale of five shares
at $331 per share and five at $336 per share.
—The June 30th statement to the Banking Department
of the State Trust Co. at Plainfield, N. J., shows that this
institution, which began business on Sept. 16 1910, now has
deposits of $312,725 79. Its board of directors is composed
of business men of standing in the community. The company is undertaking to handle the accounts of persons living
at a distance from Plainfield. The officers are giving study
to the requirements of this character of business, and have
opened a number of banking-by-mail accounts subject to
4% interest. The company has issued a booklet describing
its terms and methods and a copy will be sent to those interested. The executives are: R. Henry Depew, President;
Edward F. Feickert and M. C. Van Ardsdale, Vice-Presidents, and Frederic Coriell, Secretary and Treasurer.
—The Exchange Trust Co. of Boston, Mass., has moved
from 31 State St. to the Goddard Building at 21 Milk St.
The new quarters are spacious and designed to afford the
institution the proper facilities for meeting its own needs
and those of its patrons. Several months ago the company,
owing both to the growth it has experienced and the desire
to accommodate its up-town customers, opened a branch at
124 Boylston St. Its safe deposit vaults are located at the
branch quarters. The company has a capital of $250,000
and deposits of over $1,000,000. William H. Hill, Isaac H.
Locke, Charles F. Proctor and Charles II. Innes have been
elected directors of the institution.
—The stockholders of the Ridge Avenue Bank at Ridge
Avenue and 12th Street, Philadelphia, voted in favor of
increasing the capital stock from $150,000 to $300,000.
The stock will be offered at par, each stockholder to be privilleged to subscribe to one share of new stock for each share of
old stock held. The new stock is to be paid for in quarterly
installments, beginning Aug. 31, and thereafter every three
months until fully paid. The par of the stock is $50. It is
stated to have a book value of $80. The bank's surplus is
$75,000 and it pays annual dividends of 6%.
—According to the "Philadelphia Ledger," William B.
Schaeffer, for eleven years a State Bank Examiner in Pennsylvania, has resigned at the instance of Charles M. Schwab
to become Trust Officer of the E. P. Wilbur Trust Co. of
Allentown, Pa. It is stated that Charles M. Schwab desires
the introduction of a mortgage-bond feature in the Lehigh
Valley section so that workingmen may more readily purchase homes.
—The directors of the Park Savings Bank at 110 W. Lexington Street, Baltimore, have received permission from the
State Banking Department to change its name to the Park
Bank. The change bcame effective last Tuesday.
—Theodore D. Robb has been named as liquidating agent
for the Guaranty Savings Bank & Trust Co. of Mt. Vernon,
Ohio, which closed its doors on July 29 as a result of a run
the previous day. The bank has $25,000 capital and deposits of $270,000, of which, it is stated, $102,000 are
county, city and school funds. According to the "Cincinnati Enquirer," this is the third bank to fail in Knox County
during the past three months, the others being located at
Brinkhaven and Gambier. The Guaranty -Savings Bank &
Trust Co., the "Ohio State Journal" reports, was originally
organized by A. J. Solomon of Columbus as the Farmers'
National Bank and afterward changed to a State bank.
Solomon now has no connection with the bank.
—Edwin Hawley, of the Minneapolis & St. Louis RR.,
the Missouri Kansas & Texas Ry., &c., &c., has been elected.
a director of the Fort Dearborn National Bank of Chicago.
388
THE CTITIONTCLE
[VoL. Lxxxxiii.
—Advicesfrom Chicago announce the opening of the newly steel building will be constructed
entirely of granite and
organized Austin Avenue Trust & Savings Bank at Oak ornamental terra cotta, the
bank occupying the entire first
Park. The new institution starts business with $100,000 floor and basement.
capital and a paid-in surplus of $5,000. The officers are
Henry Pillinger, President; Edward Cornwell and William
ottetargitfoinantrciaWnyttsligews
A. Pillinger, Vice-Presidents, and Harold E. Pillinger,
Cashier. The directors are: Edwin F. Brown, Chairman;
English Financial Markets—Per Cable.
Charles Schroeder, James H. Ross, Stephen Pillinger, John
The daily closing quotations for securities, &c., at London,
E. Decker and all the above-named- officers.
as reported by cable, have been as follows the past week:
London.
—A permit to organize the Acme State Bankrof Chicago,
Week ending Aug. 11.
Sat.
Mon.
rms.
Wed. Thurs.
PH."
with $200,000 capital, has been issued by the State Auditor. Silver, phr oz
24 3-16
24 1-16 24 1-16 24 1-16 24 1-16!
ConsOls, nevi, 214 per dente
78 1-16 7834
75
7534
The bank will locate at West Madison Street and 40th Ave.
For account
---7814
783.16 78 3-16 7834 1143
French Itentes (in Parts)..fr_ 94.75
94.8214 94.90 94.8234 94.82
It is expected to begin business about January 1 next.
94.90
AmaigamatedCopperCol _ _ _
67
6634
0534
6514 .
American
Sitelt.
&
Ref.
Co
7734
76
75
—The death of President A. E. Erickson has caused the VAnneorrent Copper Co
7414 ,
731
7%
7%
7%
directors of the Security Bank of Chicago to defer the elec- Atchison Topeka & Santa Fe.
11214 111% 109%
10934
Preferred
106
106'
106
106%
tion of the permanent official management of their new ad- Baltimore &Ohio
108%. 107
100.
106
Preferred'
89
89%
89%
80%
junct, the Second Security Bank. This new bank, as de- Canadian
Pacific
249% 246%
242%
24614
Chesapeake & Ohio
81
79%
78
scribed in our Feb. 4 and April 1 issues, is to be a branch in- Chicago
77
Great Western
2131
22
22
2114
stitution. It will be opened for business next month. Will- Chicago Milw. & St. Paul.. _ _
12714
12634
12314
124%
'Denver & Rio Grande
28%
28
28
27
ca
iam S. Lawlor has beet elected Acting President of the SePreferred _
58
5714
5734
56%
Erie
34%
33%
31%
32%
curity Bank.
First Preferred
55%
54%
51%
52%
Second Preferred
45%
44%
44
42
—Two new banks are organizing in Chicago in which, it is Illinois Central
143
143
142
14234
Louisville
&
Nashville
151
150
tated, Frank Collins, Vice-President of the Monroe National Missouri Kansas149.
148%
& Texas__ _
35%
34%
34
33%
Bank of Chicago, is interested. One permit was issued by
Preferred
69
43834
6814
68%,
Missouri Pacific
4734
4634
4434
44
the State Auditor,for the formation of the Mercantile Trust Nat. RR.of Hex.. 1st Pref._
67
67
67
07
Cl
Preferred
31%
31
30%
30%
& Savings Bank with $200,000` capital, and another for the N.Second
1.1
Y. Central & Hudson Riv.
170
109
10934
108%
organization of the Lincoln Trust & Savings Bank, also with N. Y. Ontario & Western
4214.
4234,
4134
42%
Norfolk &Western
10834
10714
10611
10634
$200,000 capital.
Preferred
rI)
93
93
93
Northern Pacific
129
12754
12534
liaVg
—According to the Chicago "Record-Herald," the Chicago aPennsylvania.
6334
6334
6334
6334
Company
7834
76
7731
7634
banks holding unsecured notes (of approximately $1,000,000) aReading
aFirst Preferred
4634
4634
4634
4614
aSecond
Preferred
49
48'
of the Peavey Grain Co. have been guaranteed the payment Rock Island
47%
31
30
24/14
29'%
of dollar for dollar through the issuance of collateral trust Southern Pacific
12254
12154
118
11854 a]
Southern Railway
31
3134
2954
3054
notes by P. H. Peavey & Co. to'cover the shortage disclosed
Preferred
73
7014
71141'
7
7234
18854
18234
18634
18234 .
with the death last month of James P'ettit, President of the 'Union PacificPreferred
9634
96
9514
9534
grain company. A previous reference to the matter appeared U.S. Steel Corporation
7734
76
7734
753(
Preferred
12014
120
120'
12014 .
in our issue of July 15. It is stated that the notes, backed Wabash
3534
1514
1534
1534'
Preferred
34
32
33
33
by ample security, were turned over to the bankers at a meetExtended 4s
66
67
6514
63
.
ing of the bankers' creditors' committee on the 3d inst. In --Price per
a
share. 1)2 sterling.
addition, it is announced, F. H. Peavey dt Co. (the owner of
the stock of the Peavey Grain Co.) has agreed to pay all
Tounnercial and 4tisceitaneensg,Jews
of the smaller obligations of the grain company.
—The Wisconsin National Bank of Milwaukee has prepared
Auction Sales.—Among other securities, the following, not
and issued in attractive form the Wisconsin Bank Directory usually dealt in, at the Stock Exchanges, were recently sold at
for 1911. The booklet is bound in blue leather and contains auction in New York, Boston and Philadelphia.
By Messrs. Adrian IE. Muller & Sons, New York:
a list of the officers of the various banks throughout the
Per cent. Shares.
Per cent.
State,with figuresas of June 7 1911 of capital,surplus, loans, Shares.
25 Candu Cattle Car Co., pref._ _ _1
25 Fariow Draft Gear CO. certif.
12 Canda Cattle Car Co., corn_ _ -of deposit
155
deposits, &e., the little volume forming altogether a useful 25
Edison Ore Milling Co
25 Siegel Store Corporation, pref.- 65
100'American Pulverizing Co
compilation.
380 Audubon Nat. Bank of N. Y-61-65
100 Gore Underground Wire Co_ _ _ _ $30
—The Nebraska Bankers' Convention will be held in 30 Prong Moukling Machine Co
lot Bonds.
Per sh.
13 Cons. Interne. Ry. Teleg. Co..
$1,180 Atlantic Mutual Insur. Co.
Omaha on Monday and Tuesday, Sept. 18 and 19. Efforts 130 Electrical
DevelOpment Co.__
106
scrip of 1911
are being made to secure the use of the beautiful new Elks' 20 Edison El. Lt. Co. of Europe...J
By Messrs. Francis Henshaw & Co., Boston:
Club rooms and arrangements are under way to escort the
Shares.
$ per sh. Shares.
$ per sh.
visitors through the mysteries of the Court of Quivera by
10 Merchants' Nat. Bank
2 Heywood Bros. Si "Wakefield
280
38 Atlantic Cotton Mills
Co. common
5034
105
the courtesy of the Knights of Ak Stir Ben. A dinner at the
5 Potomska Mills(New Bedfbrd> 123
1 Charleston Gas & El. Co., par
20 Merrimack Mfg. Co., pref.__ _100
$50
,
125
Field Club Tuesday evening Sept. 19 will also be a pleasant
10 Lawrence Mfg. Co
20 Hamilton Mfg. Co
175
8234
5 Arlington Mille
feature. Speakers will be announced later.
123
$160 Cent. Vermont Ry. scrip... Bonds.
Cent.
—John T. Willingham, President of the Memphis Coffin 500'Libl.ary Bureau Secur. Co. tqt S9;000 Am. Round Bale Press Per
Co.
Os, 1922
(Maine), coin
$550 lot
30 flat
Co., has been elected President of the National City Bank of
By
Messrs.
R.
Co.,
L.
Day
Boston:
&
Memphis, Tenn., succeeding H. IT. Crosby, resigned. Mr. Shares.
$ per sh. Shares.
$ per sh.
2 Columbian Nat. Life Ins. Co_ _111
Crosby Will continue as a director and member of the execu- 10 Mt. Vernon Nat. Bank (Boston),
524 50 per sh. paid in liquida'n 80c.
1 Draper Co., common
220
tive committee, but retires from the executive direction of 11 Lawrence Mfg, Co
7e.-9c.
17034 265 American Glue Co. rights
Arlington Mills
124
10 Great Falls Mfg, Co
19154
the bank to devote his entire time to his interests in the firm 15
2 Boston mfg. Co., 1901
10514
Amoskeag Mtg. Co
Per cent.
Bonds.
393
of Riechman & Crosby. The new President has been actively 15
7 Pere Marquette RR. Co., corn_ 1334 $500 Winthrop CMS (Taunton> 55,
60 fiat
125
1913
connected' with the National City Bank since its organiza- 10 Massachusetts Lts. Cos
By Messrs. Barnes & Lofland, Philadelphia:
tion in 1908.
—The new building being constructed for the Hillyer
Trust Co. of Atlanta, Ga., is rapidly nearing completion and
will be occupied by the institution about Oct. 1. The main
banking room will be extremely handsome hr design, being
finished in Italian marble and statuary bronze, the decorative
fresco work being by Mark Sheridan. The new statement
of the institution for Aug. 1 shows total resources of $760,000,
- a gain of $220,000 since the last official report of June 7.
Deposits have increased $300,000 since June 7, representing
a gain of 100%.
—The American Trust & Savings Bank of Birmingham,
Ala., is occupying temporary quarters on First Avenue
penging the erection of its magnificent new eighteen-story
structure. The building formerly occupied by the bank
has been entirely demolished and the foundation work of the
new structure is well under way. Its position is at the corner
of First Avenue and 20th Street—the oldest site, it is reported, continuously us d for banking purposes. The new
Shares.
Spar sh.
100 Continental Pass. Ry. Co_128-125
4 Phila. & Trenton RR. Co
246
10 First Nat. Bank, Carnden,N.,f_161
230 Camden Fire Insurance Assn.,
par $5
1214 12
10 Camden- Auxii. Fire Alarm Co_ 31
30 Phila. City Pass. Ry. Co_ 15834-156
Ste.
3d
90 2d di
Pass.Ry.Cd.26035-25534
16 Union Pass. Ry. Co.
201-20014
12 John- B. Stelsors Co., com_561-553
21 Consumers' Br( wing Co.(voting
trust certincates)
1%
6 Nat. Bank of Germantown_ —,148
6 Corn Exchange Nat. Bank
988%
1 Hank of North America
315
10 North Penn Bank
120
5 Textile Nat. Bank
135
8 Philadelphia Nat. Bank 42134.42034
Tenth
4
Nat. Bank
11734
20 Mutual Trust Co., par 550_ _ _ _ 50
5 Commonwealth T. I. & T. Co_245
97 Equitable Trust Co
100
30 People's Trust Co., par $50... 50
5 Independence Trust Co, par $50 62
10 Delaware Ins. Co., par $10— _ 2454
$ per sh.
Shares.
10 Phikr. Life Ins, Co., par 310_ 1114
60 People's Nat. Fire Ins. Co.,
35
par $25
8 Girard Fire & Marine Insurance Co
281-2833.4
10 Amer. Pipe & Construe. Co__ 95
10 Feystone Watchcase Co
100
15 Entei prise Manufacturing CO_.110
8 Girard Ave. Farmers' Market
Co., par 350
311
5 Real Estate Trust, pre:
9934
Bonds.
Per cent.
$245,000 Norwalk Steel Co. let
410, 1909
Lot $64,600
$100,000 Norwalk Steel Co. 1st
434s, 1929
Lot $27,500
$3,000 Pitts. & Westmoreland Coal
Co. lst 5s, 1025
94
$500 Consumers Brewing Co. prior
lien Os, 1923
80
32,000 Portland Hy. Co. let & ref.
5s, 1930
9934
31.000 Springf. WaterCo. 5s, 1926_100
$500 No.Spring. Wat. Co.5s,'28_ 100
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Shares.
8 Frank. & Sou'wark Pass
10 D. B. Martin Co. pref
5 Rittenhouse Trust
$ per sh. Bonds.
Per cent*.
3500 Nor. Springfield Wat. 1st 5s_ _100
387
65
$1,000 Springfield Water Cons. 5s-100
52
THE CHRONICLE
AUG. 12 1911.[
Breadstuffs Figures brought from Page 420.-The statements below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years has been:
Receipts at-----
Flour.
,Wheat.
Corn.
I
Oats.
Barley.
Rye.
bu.56 lbs.
013.196Ms. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs.
22,500
Chicago _ _
,127,241 3,215,400
145,500
540.800 3,213,400
17.340
Milwaukee__
80,600
81,000
200,100
80,230
215,830
1,0961
541,153
33,710
Duluth
16,975
3,107
59,800
63,900
161,54Q
57,330
1,050,030
MintleaPulls1,000
Toledo
358,000
57,300
542,000
133,229
Detroit
5,346
27,800
48,489
350
132,300
Cleveland _
123,410
1,823
15,200
2,200
763,300
St. ,Louls
508,375
528,342
55,560
12,000
2,000
536,150
153,470
Peoria
66,000
40,800
90,100
074,400
1,234,800
Kansas City.
-303,446 101,840
Total wk.'11
328,745 7,457,250 2,226,3121 5,030,835
67,048
534,1.15
Same wk.'10
319,992 10,533,039 3,525,628 5,310,340
65,000
317,842
Same wk.'09
377,608 6,768,849 2,869,7011 2,920,487
-Since Aug. 1
303,446 104.840
1911
328,745 7,457,250 2,220,312 5,630,835
67,048
319,092 10,633,039 3,525,628 5,310,340 .534,115
1910
37,842
65,000
377,608 6,768,849 2,869,701 2,920,487
1909
38ff
DIVIDENDS.
The following shows all the dividends announced for
future by large or important corporations:
the
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
When
Payable.
Books Closed.
Days Inclusive.
Railroads (Steam).
Alabama Great Southern, preferred
3
Aug. 28 Holders of rec. July22.4
Atch. Topeka &:,
,anta Fe. corn.(quar.).
115
pt. 1 Holders of rec. July28a
Baltimore & Ohio, common
3
ept. 1 Holders of rec. Aug.' la
Preferred
2
ept. 1 Holders of rec. Aug. la
Boston & Maine corn. (guar.)
,c.
2 Holders of rec. Sept. la
Preferred __
3
Sent. 1 Holders of rec. Aug.15a
Buffalo Rochester & Pittsburgh, common 234 Aug. 15 Holders of rec. Aug. 7
Preferred
Aug. 15 Holders of rec. Aug.
3
Chestnut Hill (quar.)
134 pt. 5 Aug. 20 to Sept. .47
Chicago & Alton, prior lien ‘1.• panic. stock 2
ug. 15 Holders of rec. Aug. to
Ohio. Milw. & St. Paul, corn. and pref
33. 4-ept. 1 Holders of rec. Aug.11a
Chic. St. Paul Minn. dr Om. coin. dr pref. 334 Aug. 21 Holders of rec. Aug. 4a
Cleveland & Pittsburgh, reg., guar. (qu.) 1% .•pt. 1 Holders of rec. Aug.10a
Special, guar. (guar.)
1
ept. 1 Holders of rec. Aug.10a
Cripple Creek Central, pref. (OU)(N0,211) 1
vent. I Holders of'rec. Aug..17a
Delaware & Bound Brook, guar. (guar.)- - 2
ug. 21 Aug. 12 to Aug. 17
Delaware & Hudson Co. (guar.)
pt. 20 Holders of rec. Aug,28a
2%
Eransrille & Terre Haute. corn. & pref_ _ 5
-.pt.
Aug. 20 ,to Sept. 4
Grand Trunk lit and 2nd prof
25'
Illinois Central (No. 113)
Holders
Sept.
of rec. Aug. 1
334
Total receipts of flour and grain at the seaboard ports for N. Y. Chic. dr St. Louis, 1st
& 25 pref..._. 234 Sept. 1 Holders of rec. Aug. /a
N. Y. N. H. & Hartford (quar.)
the weekrended Aug. 5 1911 follow:
2
Sept. 30 Holders of rec. Sept.15a
2
Aug. 14 July 80 to Aug. 14
Corn,
Rye, New York Ontario & Western
Wheat,
Oats, Barley,
Flour,
1% cept. 18 Holders of rec. Aug.31a
bush.
bush. Norfolk & Western. common (quar.)..
bush.
bush.
bush,
bbls.
Receipts atPreferred (guar.)
Aug. 18 Holders of rec. July3la
1
102,025
009,200
131,883
520,800
2,550
New 'York
North Pennsylvania (guar.)
2
Aug. 25 Aug. 10 to Aug. 16
6,000
436,563
100 Oswego
35,705
104,927
Boston
1,170
& Syracuse, guaranteed
434 Aug. 21 Holders of rec. Aug.10a
524,627
12,000
Philadelphia
34,003
208,860
Pennsylvania (guar.)
ug. 31 Holders of rec. Aug. Ga
40,977
720,988
716 ,Phila.
130,297
Baltimore
38,624
Germantown & Norristown (guar.)_ 3
Sept. 5 Aug. 20 to Sept. 4
104,700
177,200
140,600
New Orleans *_ _ 37,987
Reading Co., first ,preferred
2
'ept. 9 Holders of rec. Aug.23a
Norfolk
1,606
Rome Watertown 4c Ogdensb., guar .(qu.)
ug. 15 Holders of rec. July3la
9,000
Galveston
30,000
Seaboard Company, ist Pref
Aug. 14
234 Aug. 15 Aug. 11 to
16,500
Mobile
3,500
Southern Pacific (guar.) (No. 20)
set.
1 Holders of warlit No.20
223,925
644,998
69,632
172,499
Montreal
38,000
Union Pacific, common (guar.)
2
Sept.
Oct.
12
10
lot.
to
234
--Preferred
2 Sept. 12 to Oct. 10
2 'set.
816 Utica r.E Black
516,027 1,277,883
353,000 3,463,526
Total week 1911_
41,720
Meer
3M -.opt. 30 Holders of rec. Sept.16a
Since Jan. 1 1911_10,778,200 43,021,028 49,137.639 31,694,792 2609,685 364,681 Vandalia (quar.)
1 , tag. 25 Holders of rec. Aug.I5a
16,398 Wisconsin
259.787 1,288,531
597,464
743,999
11,151
Week 1010
Central. au-dared
2 1 et.
2 Holders of rec. Sept. 14
Since Jan. 1 1910_10,135,006 39,368,088 25,762.462 27,170,429 2037,184 443,078
Street and Electric Railways.
Boston Elevated
'ug. 15 Holders of rec. Aug. 4
3
*Receipts do not include grain passing through New Orleans for foreign ports Columbus
corn.
Ry.,
(0.)
(guar.)(No.83)opt. 1 Holders of rec. Aug.140
on through tills of lading.
'Connecticut Ry. & Ltg.. corn..& pf.(qu.) 1
Aug. 15 Aug. 1 to
Aug. 15
Detroit United Ry. (quar.)
15( 'opt. 1 Holders of rec. Aug.16a
The exports from the several seaboard ports for the week Federal Light & Tram.,
pref. (quar.)_ _
154 ept. 1 Aug. 10 to Sept. 1
Havana Electric Ry..com. & pref. (qu.)_
ending Aug. 5 are shown in the annexed statement:
Aug. 12
134 Aug. 12 July 23 to
Kokomo Marion & West. Tract., corn_ _ _
154 Aug. 15 Aug. 2 to Aug. 15
Wheat,
Corn, Flour,
Rye, Barley, Peas, Northern Ohio Tract. & Light
Oats,
Sept.
15
(quar•)-Holders
of
rec.
Aug,31a
bush.
Exportsfrombush.
bush.
bush.
bush. bush.
Obis.
Northern Texas Elec.Co., cem.(qu.)(No.8) 134 Sept. 1 Holders of rec. Aug.11ia
2,524
New York
719,660 175,771 74,447
19,950
Preferred (No. 12)
Sept. 1 Holders of rec. Aug.14a
Boston
370.170
5,500
12,565
'150
Pacific
Gas & Elec., pref. (guar.)(No. 22)' 134 Aug. 15 Holders of rec. July3la
_ 184,000
Philadelphia
18,000
Philadelphia Co., preferred
234 Sept. 1 Holders of rec. Aug.10a
Baltimore
25,714 8,344
382,784
Portland By., Lt. 4r 'Pow. (over.)(No.3) 51 Sept. 1 ,Rolders of rec. Aug.1.2a
1,500 ,St. Jos. By.,
New Orleans __ _ _
9,000 16,320
500
669
L. H.& P.,com.(gu.)(No.12)
34 Sept. 1 Holders of rec. Aug.15a
Mobile
16,500 3,500
Seattle Electric Co.. preferred
236 Sept. 1 Aug. 10 to Aug. 21
Montreal
433,000 394,000 131,000 .260.000
Tampa Electric Co. (guar.)(No. 25)_.... 2
Aug. 15 Holders of rec. Aug. 4a
1,606
Norfolk
1
Extra(No. 26)
Aug. 15 Holders of rec. Aug. 46
Mluellapeous.
4,024
R.Total week._ _ _2,096,283 633,550 258,717 280,600
$3
Sept. 4 Aug. 15 to Aug. 31
Express (Var.)
Week 1910
478,923 453,531 119,780
1,617 Adams
97,804
29,000
34 Aug. 2,8 Holders of rec. Juls290
Amalgamated Copper
1
American Bank Note Co. corn. (quar.)
Aug. 15 Aug. 2 to Aug. 15
The destination of these exports for the week and since American
13
Cot.
2 goldcre of rec. Aug.31a
Express (queer.)
July 1 1911 is as below:
American Radiator, common (quarj_ _ _ _
2
Sept. 30 Sept. 22 to Sept. 30
'Preferred (guar.)
15' Aug. 15 Aug. 8 to Aug. 15
--Flour---- ---Wheat---- ---Corn----1% Oct. 15
Since
Since
Since Amer. Shipbuilding, pref. (guar.)
Smelt. Scour., pref. A(qu.)(No. 26) 134 Sept. 1 Aug. 23 to Aug. 31
Week
Week
July 1
July 1
July 1 Am.
Week
Preferred B (quar.)(No.45)
)3j Sept. I Aug. 23 to
Aug. 31
Exportsfor week and Aug. 5.
1911. Aug. 5.
1911. Aug. 5.
1911. Amer.
Sugar Refining, corn. & pref.(gu.). I% Oct.
2 Holders of rec. Sept. la
•bbls.
*Ns.
*Vince July 140bush.
bush.
bush.
bush.
15' Sept. 1 Holders of rec. Aug.31a
United Kingdom_._129,827
389,721 1,046,053 3,682,082 286.465 1,373,918 Am. Teleg. & Cable, guar. (quar.)
ug. 31 Heilders of rec. Aug. 26
15'
Continent
63,016 194,6(52 1,041,761 3,161,099 279,995 1,074,646 Associated Merchants, common (guar.)_ _ _
Common (extra)
M Aug. 31 Holders of rec. Aug. 26
Sou. & Cent. Amer_ 24,357
80,507
429,755 Barney
7,800
00,835
1,000
.2 Smith Car, pref. (quar.)
2
ept. 1 Aug. 18 to Sept. 1
West Indies
3,219
206,707
65,850
10,917
609
94,250
3
Aug. 15 Holders of rec. Aug. 8
Brit. Nor. Am. Cols
100
1,257 Bond & Mortgage Guarantee (quarj_ _
1,910
4
Aug. 15 Aug. 6 to Aug. 15
3,262 Borden's ,Condensed Milk, common
Other Countries_ _ 30,000
140
30,580
Butte Coalition ?dining (guar.)
Sept.
1 Aug. 17 to Sept: 1
25c.
1014411141
Butterick Company (guar.)
% Sept. 1 Holders of rec. Aug.15a
InTotal
258,717 801,958 2,096,283 0,932,907 633,550 2,789,545 Cambria
Steel
15' Aug. 15 Holders of rec. July3la
Total 1910
119,780 507;700 478,923 2,816,690 453,531 1,448416 Canada
Cement. Ltd..Pref.(q ietr.)(No.6) 1% Aug. 16 Aug. 1 to Aug. 10
Cities Service, common (monthly)
Sept. 1 Holders of rec. Aug. 20
.Mhe
i*
world's shipments of wheat and corn for the week
Preferred ,(monthly)
M Sept. 1 Holders of rec. Aug. 20
ending Aug. 5 1911 and.since July 1 1911 and 193.0 are shown Columbus (0.) Gas dr Fuel (guar.)
341 Sept. 1 11q1ders of rec. Aug. 15
Consolidated Gas of New York (quar.).: 134 ept. 15 Holders of rec. Aug.16a
in the following:
Diamond Match (guar.)
134 Sept. 15 Holders of rec. Aug.310
Eastman Kodak, common (extra)
5
ept. 1 Holders of rec. July 31
General Asphalt, pref. (auar.)(No. 17)_
.ept. 1 Heiders of rec. Aug-150
Wheat.
Corn.
General Chemical, common (guar.)
15' Sept. 1 Holders of rec. Aug.22a
Hontestake Mining (monthly)(No. 441)_ 50e. Aug. 25 Aug. 20 to
&Exports.
1911.
1911.
atm.
1910.
InteMat. Harvester, pref. (qu.)(No. IS) 131 Sept. 1 Holders of rec. Aug. 10
international Nickel. common (guar.)ept. 1 Aug. 13 to Sept. A
Week
Week
Sines
Since
Since
2
International Smelting & Ref'g (quar.)
Sept. 1 Aug. 19 to Sept. 1
July 1. I Aug. 5.
July 1.
July 1.
Aug. 5.
July 1.
Kansas,City Breweries. pref. (guar.)--- 134 Aug. 15 Holders of rec. July 31
----------'opt. 1 elders of rec. Aug.21a
Kings County Elec. & P (qu.)(No.AA) 2
Bushels.
Bushels. Bushels.
Bushels.
Bushels.
15' 'apt. 15 Sept. 2 to Sept. 15
North Amer. 3,448,000 12,512,000 5,741,000 520,000 2,357,000 1,745,000 Laclede Gas Light, corn. (0u.ard
2
ug. 31 Holders of rec. July 31
&
Lehigh
Coal
131)_.
Ncylg.
WO.
(guar.)
1,944,000 13,096,000 15,776,000 1,411,000 8,306,000 1,272,000
Russia
432,000 2,888,000 4,456,000 2,431,000 10,991,000 5,807,000 Michigan State Telep., coin. (quar.)-- - - .15' ept. 1 Aug. 18 to Sept. 1
Danube
Preferred (quar.)
134 Nov. 1 Oct. 15 to Nov, j
1,832,000 7,896,000 4,744,000
Argentina
12,471,000
Mobile Electric, pref. (guar.)
15' Aug. 15 Holders of rec. July 31
1.7,12,000 5.256,000 2,120,000
Australia
Montreal Lt., Ht. & Pow.(qu.)(No. 41) .2
Aug. 15 Holders of rec. July 31
1,400,000 9,380,000 7,328,000
India
National Biscuit, corn. (guar.).(No. 52).. 15' Oct. 14 Holders of rec..Sept.280
758,000
384,000
0th. countr a 160,000
Preferred(guar.)(No. 54)
15' Aug. 31 Holders of rec. Aug.170
--14 Aug. 15 Aug. 6 to Aug. 16
Total_ _ 10928000 ,51,792,000 40,549,000 4,362,000 21,654,000 .21,295,000 National Carbon, preferred ,(quar.)
Nat. Enam. & Stpg.. pref.. (o11.)(No 51) 1341 Oct.
1 Sept. 11 to Sept. 31)
Lead, common (guar.)(No. 31)
% ept. 30 Sept. 9 to Sept. 13
• The quantity of wheat and corn afloat for Europe on dates National
Preferred (guar.)
Aug. 22
131 Sept. 15 Aug. 19 to
mentioned was as follows:
Niles-Bement-Pond, common (guar.)
15' Sept. 20 Sept. 10 to Sept. 20
Preferred (guar.)
'134 Aug. 15 Aug. 11 to Aug. 15
North American (guar.)
2 olders of rec.Sept.160
15' Oct.
Wheat.
Corn.
People's Gas Light & Coke (quAr.)
134 Aug. 25 olders of rec. Aug. 34
Philadelphia Electric (Qicar.)
I% gut. 15 olders of rec. Aug.150
'United
United
PIttsbuprh Steel, pref. (quar.)
15' Sept. 1 Holders qf ,r./tug. 180
Kingdom. Continent. Total.
Kingdom. Continent. Total.
134 Aug. 15 Aug. 11 to Aug. 16
Pratt & Whitney, pref. (guar.)
-Pressed Steel Car, pref. ((Mar.)(No. 50). 15' Aug. 23 Aug. 3 to Aug.22
Bushels.
Bushels. Bushels. Bushels.
Bushels. Bushels.
Aug. 15 Holders of rec. July '31
3
Procter.& Gamble. common,(quar.)
Aug. 51O11. 24,088,000 13,480,000 37,568,000 4,276,000 5,007,000 9,283,000 Pullman Company (quar.)(No. 178)___.. 2
Aug. 15 Holders of rec. JulY010
July 29 1011_ _ 22,792,000 13,648,000 30,440,000 3,646,000 5,903,000 0,639,000 Pure 09, common (guar.)
ept. 1 Aug. 15 to Aug. g,1
Aug. 6 1910_ 21,600,000 8,640,000 30,240,000 7.820.00011,475,000 10.295,000 Quaker'Oats, common .(quar.)
254 Oct. 16 alders of rec. Oct. ,2a
Aug. 7 1900._ 18.720,000 12;880,000 13,600,000 8,075,000 10,965,000 19,040,000
134 Aug. 31 Holders of rec. Aug. la
Preferred (quar.)
Aug. 8 1908._ 14.720.000 8,320.000 23,010,000 7,055,000 '5,950,000 13,005,000
134
nv. 30 Holders of rec. Nov. 10
Preferred (guar.)
Aug. 10 1007.. 18,760,000 8,840,00027,600,000 7,760,0009,680,001 17,440,000 Sears, Roebuck
15' lig. 15 Holders of rec. July3la
dr Co.,common,(quar.).._
134 Aug. 15 fielders of rec. Aug. 10
Silversmith's Company (guar.)
-J. T. Harahan, who for so many years was associated Studebaker Corporation, pref. (guar.)._ _
15' Sept. I Holders of rec. Aug. 15
I
Oct.
2 Holders of rec.Sept.200
with the Illinois Central RR. as General Manager, Vice- Underwood Typewriter, common ,(quar.). _
1 q Oct.
(quar.)
2 Holders of rec. Sept,200
Preferred
President -and President, has opened an office ,on :the 17th
134 Sept. 1 Holders of rec. Aug:25a
United Cigar Mfrs., pref.(guar.)
_
194 Sept. 1 Holders of rec. Aug. 24
floor of the Harris Trust Building, Chicago, where he will United Pry Goods Cos., Pref.
:13.4 Sept. 1 Aug. j6 to Sept. 8
Envelope, preferred
conduct an investment security business. Mr. Harahan's U. S.
IV' Sept. 29 Sept. 2 ,to Sept.'11
U. S. Steel Corp., Corn. (guar.)(No. 31)_
14
3
Aug. 30 Aug. 2 to Aug. la
judgment on railroad and corporation ,bonds ought to be
Preferred (guar.)(No. 41)
134 Aug. 15 illoidcrs of rec. July 29
preferred (guar-)
S.
Telephone,
U.
reliable ,if long -experience in their -operation counts ,for
134e Aug. 151Aug. 5 to
Virginia-Carolina Chemical, common_ _ _ _
Aug. 15
anything.
a Transfer books not closed. b Less Income tax. d Correction. e Declared 3%
-Devitt, Tremble & Co. of Chicago are ,offering $200,000
payable 154% Aug. 151911 and 134% Feb. 15 1912. !Declared 1% payable .10
City of Milwaukee 4%% park bonds at a price to yield 4%. quarterly Installments. h Declared 2% payable in quarterly Installments.
390
THE CHRONICLE
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
[VOL. Lxxxxiii.
DETAILED RETURNS OF TRUST COMPANIES.
On Dep.
Net
Trust Cos. Surplus. Loans. Specie. Legals. with C.H Deposits. Reserve.
00s omitted.
Average. Average. Average. Banks. Average.
CHARTERS ISSUED TO NATIONAL BANKS JULY 27 TO JULY 31.
-------$
$
s
10.057—The First National Bank of Farmersville, Ill. Capital, 525,000. Manhattan ___ 2,331,4
20,569,0 2,221,0
58,0 1,844,0 15,163,0 15.0+10.8
William H. McLean, President; Thomas II. Leahan, Vice-Presi- Brooklyn ____
2,397,2 17,354,0 1,681,0
419,0 4,239,0 12,324,0 17.0+25.4
dent; George S. Hugg, Cashier; J. E. Wheaton, Assistant Cashier.
7,501,7 78,230,0 9,741,0
525,0 8,244,0 68,094,0 15.0+10.7
10.058—The Citizens' National Bank of Gettysburg, Ohio. Capital, Bankers
862,0 3,9500 30,046,0 15.1+11.5
$30,000. A. F. Myers, President; F. P. Lehman, Cashier; A. W. U.S.Mtg.& Tr_ 4,446,4 42,411,0 3,700,0
Astor
1,043,1 16,868,0 1,834,0
25,0 1,710,0 12,469,0 14.8+ 10.1
Fair, Assistant Cashier.
10.050—The Merchants' National Bank of Leominster, Mass. Capital, Title Guar.&Tr 11,429,9 34,412,0 1,997,0 1,465,0 3,875,0 22,054,0 15.6+14.8
Guaranty
22,077,9 152,409,0 14,203,0 1,395,0 19,786,0 98,820,0 15.1+16.6
$100,000. Alfred N. Litoh, President; Charles H. Howe, Vice- Fidelity
1.272,4 6,935,0
547,0
229,0
751.0 5,130.0 15.1+11.2
President; J. Ward Healey, Acting Cashier.
Mercantile
7,620,0 65.607,0 5,277,0
7,0 5,769,0 35,125,0 15.0+14.0
LawyersT.I.&T 6,453,8 20,324,0 1,520,0
883,0 1,798,0 15,157,0 15.9+10.5
VOLUNTARY LIQUIDATION.
Columbia
1,813,1 16,454,0 1,651,0
100,0 1,330,0 11,555,0 15.1+10.3
8,368—The First National Bank of Menton°, Ind.. July 311011.
Standard
1,426,3 16,333,0 2,205,0
22,0 2,010,0 15,993,0 14.0+11.1
3.042—The First National Bank of Elizabethtown, Elizabethtown, Ky., Peoples
1,727,4 17,591,0 1,988,0
386,0 1,932.0 16,056,0 14.7+10.6
July 29 1911. To be consolidated with the Hardin National Bank New York
11,183,3 51,074,0 5,004,0
181,0
3,755.0 34,174,0 15.1+ 9.8
of Elizabethtown.
Franklin
977,4 10,898,0 1,257,0
205.0 1,339,0 10,097,0 15.3+11.4
Lincoln
582,0 9,488,0 1,091,0
213,0 1,097.0 8,619,0 15.1+11.3
Metropolitan
6,107,4 25,367,0 2,934,0
13,0 2,598,0 18,374.0 16.0+12.3
-Canadian Bank Clearings.—The clearings for the week end- Totals, Auge 93,290,7 602.324,0
58,851,0 7,078,0 66,036,0 429,259,0 15.3+13.3
--ing Aug. 5 at Canadian cities, in comparison with the same
Actual figures Aug. 5_ 595,669,0 56,746,0 6.896.0 66,941,0 414,656.0 15.3 +13.9
week of 1910, shows an increase in the aggregate of 20%.
Week ending August 5.
Clearings al—
1911.
Canada—
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
St. John
Hamilton
Calgary
London
Victoria
Edmonton
Regina
Brandon
Saskatoon
Moose Jaw
Lethbridge
Brantford
Total Canada
1910.
Inc. or
Dec.
1909.
• 1908.
$
32,903,036 26,465,714
24,689,964 19,774,691
11,217,865 9,718,753
5,016,427 3,551,026
2,700,330 2,546,561
2,722,973 2,158,000
2,211,136 1,865,339
1,508,178 1,620,136
1,647,194 1,265,690
1,931.947 1,198,708
1,161,981 1,153,964
1.170.403
911,504
1,172.227
791.997
1
41,024,229 43,572,639 —5.8
45,410,101 27,687,943 +64.0
20,508,834 18,452,114 +11.1
10,476,137 8.135.641 +28.8
3,501,778 2,892,042 +21.1
2,512,552 2,350,108 +6.6
1,899,874 2,330,833 —18.5
—3.5
1,467,353 1,520,181
2,489,394 1,600,216 +55.6
4,046,497 3,516,526 +15.1
1,432,357 1,304,545 +9.8
2,708,612 1.742,408 +55.4
1,974,167 1,400,050 +41.0
1.404,788
987,038 +42.3
679,684
452,217 +50.3
1.059,000 Not include d in tot
782,000 Not include d in tot al.
494,000 Not include d in tot al.
474,000 Not included in tot al.
141,536.3571117,950.591i +20.0 90,053,661 73,022,083
Statement of New York City Clearing-House Banks and
Trust Companies.—The detailed statement below shows the
condition of the New York City Clearing-House members
for the week ending Aug. 5. The figures for the separate
banks are the averages of the daily results. In the case of
the totals, actual figures at the end of the week are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks,and V. 92, p. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omit two dphers (00) in all cases.
The capital of the trust companies is as follows: Manhattan, $1,000,000; Brooklyn,
$1,000,000: Bankers, 53,000,000; U. S. Mtge. & Trust, 52,000.000; Astor, $1,250,000; Title Guarantee ev Trust, $4,375,000; Guaranty, $5,000,000; Fidelity, $1,000.000; Mercantile. $2,000.000; Lawyers' Title Ins. & Trust, $4,000,000: Columbia,
51,000.000; Standard, 51,000,000; People's, 21.000,000; New York, $3,000,000;
Franklin, $1,500,000; Lincoln, $1,000,000; Metropolitan, $2,000,000; total, $35.125,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMI'ANIES.
Week
ending
Aug. 5
Capital. Surplus.
Capital. Surplus.
Loans.
Average.
Specie. Legate. Net Depos- ReAverage. Average. its. Aver. Wye.
Specie.
On Dep.
Legal with C.II.
Net
Tenders. Banks. Deposits.
Averages.
$
$
$
$
$
$
$
Banks
135,150,0 190,141,3 1,388,484,0292,255,0 77,622,0
1,423,488,0
Trust cos_ 35,125,0 93,290,7 602,324,0 58,851,0 7,078,0 66,036,0 429,259,0
Total_ _- 170,275,0283,432,0 1,990,808,0351.106,0 84,700,0 66,036,0 1,852,747,0
Actual,
Banks
4,381,678.0292,739,0 77,839,0
1,416,461,0
Trust cos_
I 595,669,0 56.746,0 6,896,0 66,041,0 414,656,0
1
Total_
1,977,347,0 349,485.0 84,735,0 66,941,0 1,831,117,0
I
The State Banking Department also furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following.
For definitions and rules under which the various items
are made up, see "Chronicle," V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended Aug. s.
—
Capital as of June 7
Banks.
00s omitted.
Loans.
Surplus as of June 7
Loans and investments
Change from last week_
Stale Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
$
23,275,000
$
62,206,000
38,912,100
178,697,600
11,631,137
11,999,889
297,639,700 1,156,514,100
—1,035,900 —8,229,600
98,689,600
+960,000
151,269,300
—79,000
$
9,453,000
S
9,525,000
Bank of N. Y. 2,000.0 3.680,6 20,657,0 3,720,0 1,021,0 18,485,0 25.5
Manhattan Co. 2,050,0 4,413,4 37,600,0 9,154,0 1,741,0 43,450.0 25.0
51,087,500 117,706,700
2,000,0 1,951,8 20,851,0 3,854,0 1,458,0 21,305,0 24.9 Specie
Merchants' _
Change from last week_ —3,502,000 —3,589,000
Mech.& Metals 6,000,0 8,230,1 56,018,0 15,008,0 1,610,0 57,356,0 28.9
1.500.0 0,134,4 28,702,0 5,218,0 2,295,0 29,760,0 25.2
America
11,707,900
23,546,300
25,000,0 24,969,9 192,670,0 48,561,0 5,708,0 197,972,0 27.0 Legal-tenders & bk. notes
City
Change from last week_
+140,500
1,419,500
3,000,0 6.641,0 31,223,0 5,898,0 1,688,0 29,374,0 25.8
Chemical
248,0
7,354,0 1,701,0
7,675,0 25.4
579,5
600,0
Merchants' Ex
1,275,576,900
Deposits
351,199,400
105,495,200 161,593,300
423,0
1,595.0
9,106,0
7,617,0
2,506,
26.4
1,000,0
Gallatin
Change from last week_
—5,897,000 —10,650,500 +1,652.700 +2.235,500
65,0
527,0
2,432,0 24.3
2,224,0
300,0
156.4
Butch dc Drov
190,0
9,307,0 25.0
8,223.0 2,142,0
500,0
874,5
Greenwich
Reserve on deposits
97,114,600 138,831,900
22,114,700
24,643,200
Amer. Exch.- 5,000,0 4,416,4 42,537,0 7,157,0 3,664,0 42,144,0 25.7
Change from last week_ —6,692,400 —3,082,900
+306,900 +1,643,300
25,000,0 15,161,7 144,829,0 23,817.0 7,774,0 122,873.0 25.7
Commerce
3,000,0 2,727,2 15,286,0 2,153,0 1,066,0 12,432,0 25 8
Mercantile
P. C. reserve to deposits_
16.3%
16.0%1
434,0
3,542,0 27.1
4,066.0
527,0
500,0
936,8
27.9%
21.9%
Pacific
Percentage last week
29.3%
16.4%
912,0 15,809,0 24 5
21.9%
Chath.& Phen. 2,250,0 1,105,4 16,096,0 2,962,0
15.1%.
1,748,0
488,0
151,0
2,357,0
200.0
470,9
27.0
People's
3,000,0 12,620,0 70,383,0 15,656,0 4,656,0 78,932.0 25.7
Hanover
Increase
over last week. — Decrease from last week.
+
2,550,0 1,847,8 23,199,0 5,389,0
623,0 22,781,0 26.3
Citizens' Cent_
564,1
500,0
9,333,0 1,493,0 1,187.0 10,820,0 24.7
Nassau
Note.—"Surplus" includes all undivided profits. "Reserve on deposits" includes,
9,091,0 1,584,0 1,071,0
9,333.0 28.2 for both trust companies and State banks, not only cash items but amounts due
Market & Fult 1,000,0 1,788,8
2,000,0 1,572,3 10,932,0 2,490,0
245,0 10,915,0 25.0 from reserve agents. Trust companies in New York State are required by law to
Metropolitan _
Corn Exchange 3,000,0 5,557.8 49,211,0 9,338,0 5,453.0 58,680,0 25.2 keep a reserve proportionate to their deposits, the ratio varying according to loImp.& Traders 1,500,0 7,735,6 26,280,0 4,487,0 1,609,0 23,933,0 25.5 cation as shown below. The percentage of reserve required is computed on the
5.000,0 12,941,4 86,448,0 21.254,0 1,761,0 90,656,0 25.3 aggregate of deposits, exclusive of moneys held in trust and not payable within
Park
277,0
108,0
1,491,0
1,639,0 23.4 thirty days, and also exclusive of time deposits not payable within thirty days,
101,4
250,0
East River
5,000.0 5,675,3 37,303.0 7,827,0 2,810,0 41,142,0 25.8 represented by certificates, and also exclusive of deposits secured by bonds or
Fourth
131,0 13,415,0 24.4 obligations of the State or City of New York, and exclusive of an amount equal to
1,000,0 2,244,9 13,890,0 3,153,0
Second
10,000,0 20,906,7 124,199,0 28,374,0 2,900,0 120,655,0 25.9 the market value (not exceeding par) of bonds or obligations of the State or City
First
2,000,0 1,897,6 24,750.0 4,861,0 2,269,0 27,162,0 26.2 of New York owned by the bank or held in trust for it by any public department.
Irving Exch
824,0
64,0
3,575,0 24.8 The State banks are likewise required to keep a reserve varying according to loca3,439.0
250,0
794,9
Bowery
684,0
8,495,0 23.9 tion, the reserve being computed on the whole amount of deposits exclusive of time
8,504,0 1,348,0
500,0 1,758,3
N. Y. County_
209,0
800,0
3,905,0 25.8 deposits not payable within thirty days, represented by certificates (according
4,088,0
750,0
717,0
German-Amer.
5.000,0 8,440,1 85,041.0 17,004.0 7,488,0 95,197,0 25.7 to the amendment of 1910) and exclusive of deposits secured (according to amendChase
100,0 2,227,3 13,082,0 2,734,0 1,056,0 14,802,0 25.6 ment of 1911) by bonds or obligations of the City or State of New York. and exFifth Avenue_
616,0
3,827,0 24.3 clusive of an amount equal to the market value (not exceeding par) of bonds or
3,725,0
320,0
200,0
888,4
German Exch_
6,456,0 25.0 obligations of the State or City of New York owned by the company or held in trust
503.0
200,0 1,041,2
5,538,0 1,113,0
Germania
1,000,0 1,632,5 15,939.0 2,840,0 1,385,0 16,997,0 24.8 for it by any public department.
Lincoln
9,110,0 26.5
635,0
1,000,0 1,242,4
8,846,0 1,784,0
Garfield
—Trust Cos.—
—State Banks—
320,0
3,807,0 25.9 Reserve Required for Trust
669,0
250,0
532,8
3,547,0
Fifth
Of
Total
Of
1,000,0 2,145,7 12,752,0 1,299,0 1,938,0 12,918,0 25.8
Metropolis
which Reserve
and State Banks.
Reserve
which
226,0
5,102,0
24.2
4,439,0 1,009,0
West Side
200.0 1,064,0
CompaniesTeqUestaer
RR iired. in Cash. Required. in Cash.
Seaboard
1,000,0 2,049,3 21,721,0 4,559,0 2,351,0 25,727,0 26.8 Ma
attitoann—Borough15%
"
nhca
25
Liberty'
1,000,0 2,717,7 17,636,0 3,476,0 1,161,0 18,010,0 25.7 Brooklyn Borough (without branches in Manhat.) 154
10%
204
104
426,0 10,245,0 25.5 Other Boroughs(without branches in Manhattan) 15%
797,4
8,632,0 2,192,0
N.Y.Prod. Ex. 1,000,0
10%
15%
7
342.0 20,167,0 25.4 Brooklyn Borough, with branches In Manhattan__15%
State
967.5 15,815,0 4,794,0
1,000,0
15%
20%
20%
542,0
7,363,0
Street
25.0
326,7
6,191,0
1,307,0
14th
1,000,0
Other Boroughs, with branches in Manhattan____15%
15%
15%
15%
6,235.0 26.0 Elsewhere in State
666,0
5,983,0 1,061,0
435,0
Coal & Iron
1,000,0
10%
5%
15%
6%
9,848,0 24.2
9,714,0
Union Exch.._
951,6
830,0 1,561,0
1,000,0
7,721,0
278,0
7,972,0 1,647,0
24.9
Nassau, Bklyn
1,000,0 1,000,0
undertakes
to
The
Banking
Department
also
present sepa-Totals, Avge_ 135,150,0 190,141,3 1388.484,0 292,255,0 77,622,0 1423,488,0 25.98 rate figures indicating the totals for the State banks
and
-1381,678,0 292,739,0 77.839,0 1416,461,0 26.1 trust companies in the Greater New York not in the Clearing
Actual figures Aug. 5
Circulation.—On the basis of averages, circulation of national banks in the Clearing
amounted to $47,734.000 and according to actual figures was $47,986,000.
HOMO
House. These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing-
391
THE CHRONICLE
AUG. 12 1911.]
Boston and Philadelphia Banks.-Below is a summary of
House banks and trust companies. In addition, we have
combined each corresponding item in the two statements, the weekly totals of the Clearing-House banks of Boston
•
thus affording an aggregate for the whole of the banks and and Philadelphia:
We omit two ciphers(00)in all thesefigures.
trust companies in the Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear -house State Banks & Total of all
Members. Trust Cos. not Banks &Trust
Members.
Week ended Aug. 5Average. in C.-H. Aver. Cos. Average.
AdualFigures
Capital as of June 7...._
170,275,000
170,275,000
Surplus as of June 7...-
283,432,000
283,432,000
35,156,000
205,431,000
93,638,100
377,070,100
Loans and investments 1.977,347,000 1,990,808,000
Change from last week -20,405,000 -4,858,000
633,626,000 2,624,434.000
-1,681,800 -6.539,800
1,831,117,000 1,852,747,000
Deposits
Change from last week -32,204,000 -12,253,000
a631,021,100 2,483,768,100
-2,587,000 -14,840,000
Specie
Change from last week
349,485,000
-4,193,000
351,106,000
-4,042,000
64,945,200
-652,100
416,051,200
-4,694,100
Legal-tenders
Change from last week
84,735,000
-1,225,000
84,700,000
-666,000
512,113,600
-227.000
96,813,600
-893.000
Banks: cash in vault
Ratio to deposits_
370,578,000
26.16%
369,877,000
25.98%
13,583,700
13.74%
383,460,700
TrustCos.: cash in vault
63,642,000
65.929,000
63,475.100
129,404,100
Aggr'te money holdings
Change from last week
434,220,000
-5,418.000
435,806,000
-4,708,000
77,058,800
-879,100
512,864,800
-5,587,100
Money on deposit with
other bks. & trust cos.
Change from last week
66,941,000
+693,000
66,036,000
+1.111,000
23,720,700
+305,300
89,756,700
+1,416,300
Total reserve
Change from last week
501,161,000
-4,725,000
501,842,000
-3,597,000
100,779,500
-573,800
602,621,500
-4,170,800
Surplus CASH reserve
Banks (above 25%)..
Trust cos.(above 15%)
16,462,750
1,443,600
14,005,000
1,540,150
Total
Change from last week
17,906,350
+160,900
15,545,150
-2,806,350
% of cash reserves of tr ust cos.Cash in vault
15.35%
13.90%
Cash on dep. with bks.
15.36%
13.33%
14.96%
1.43%
28.69%
16.39%
Total
29.25%
Banks.
Boston.
July l5..
July 22__
July 29.. _
Aug. 5.. _
Phila.
July 15...
July 22__
July 29....
Aug. 5_
Capital
and
Surplus.
Loans.
Specie.
Legals. Deposits. a Circulation.
41,350,0
41,350,0
41.350.0
41,350,0
223,782,0
223,714,0
225,073,0
227,201,0
27,271.0
28,207,0
29,231,0
27,177.0
3,945,0
4,323,0
4,100,0
3,933.0
60,105.0
60,105,0
60,105.0
60,105,0
282,627,0
281,106.0
281,643,0
283,238,0
7,124,0
7,127,0
7,058,0
7,065,0
278,554,0
275,651,0
270,521,0
272,120,0
344,991.0 15,318,0
344,883,0 15,338.0
342,385,0 15,317,0
341,676,0 15,315,0
81,341,0
82,434,0
84,138,0
80,962,0
Clearings.
179,983,3
161,618,8 .•
138,330,6
158,729,5
152.588.0
171,253.8
129,322.1
148,713,3
a Includes Government deposits and the item "due to other banks." At Boston
Government deposits amounted to $3,068,000 on Aug. 5, against $3,071,000 on
July 29.
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Aug. 5; also
totals since the beginning of the first week in January.
FOREIGN IMPORTS AT NEW YORK.
1911.
For week.
I
1909.
1910.
$2,647,927
13,300,111
Dry Goods
General Merchandise
$3,096,845
15,366,336
$3,168,302
12,293,650
1908.
$2,545,146
9,611,311
Total
Since Jan. 1.
Dry Goods
General Merchandise
$15,948,038 $18,463,181 $15,461,952 $12,156,457
Total 31 weeks
$517,649,767 $561,767,475 $514,136,786 $365,394,911
$83,194,733 $94,267,858 $102,850,296 $70.144.589
434,455,034 467,499,617 411,286,490 295,250,322
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Aug. 5 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
+ Increase over last week. - Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories and other banks and trust companies in New York City"; with this item included, deposits amounted to $723,865,500, a deerme of $3,080,800 from last week.
In the case of the Clear'ig-House members, the deposits are "legal net deposits"
both for the average and the actual figures. b Includes bank notes.
1908.
1909.
1910.
1911.
For week.
'
$11,723.922 $13,958,811 $11,834,370 $7,728,036
450,425,917 374,595.709 360,478,485 380,599,826
For the week
Previously reported
$462,149,839 $388,554,520 $372,312,855 $388,327,862
Total 31 weeks
The averages of the New York City Clearing-House banks
The following table shows the exports and imports of
and trust companies, combined with those for the State banks
at the port of New York for the week ending Aug. 5
specie
and trust companies in Greater New York outside of the
Jan. 1 1911, and for the corresponding periods in
since
and
Clearing House, compare as follows for a series of weeks past:
1909:
and
1910
OF BANKS AND
IN
TRUST COMPANIES
COMBINED RESULTS
GREATER NEW YORK.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
We omit two ciphers in all thesefigures.
Week
Ended.
June 3-June 10..
June 17_
June 24_
July 1..
July 8...
July 15_
July 22July 29-Aug. 5.-
Loans and
Investments,
Deposits.
$
2,558,152,1
2,565,375,5
2,570,795,8
2,583,113,7
2,595,834.8
2,646,480,3
2.648,893.6
2,637,371,8
2,630.973,8
,
,
2,570,202,0
2,578,787,0
2,462,954.7
2,477,564,5
2.490.20.0
2.509,243,7
2,513.515,5
2,506,532,8
2,498,608.1
2,483,768,1
Specie.
$
435.941,5
439,205,0
447,199,3
455,368,6
454,538,2
418.914,6
414,547,0
419,087.8
420.745,3
416,051,2
We omit two ciphers(00)in all thesefigures.
cam-
Surplus.
Legal
Loans,
On
Disc.('
Tender Deposit
and
Net
with
Specie. and
InvestBank C.-H
Deposits.
ments,
Notes. Banks.
--------New York City.
Manhattan & Bronx.
291,2 1,335,0 140,0
160,0
50,0
Washington Heights_ 100.0
127,8 1,474,0
35,0 214,0
126,0
250,0
Century
433,4 5,992,0 816,0 399,0
816,0
400,0
Colonial
796,5 6,883,0 626,0 565,0
599.0
300,0
Columbia
182,2 1,073,0
42,0 116,0
152,0
200,0
Fidelity
533,3 4,563,0 279,0 373,0
317,0
500,0
Jefferson
339.9 2.783.0 497,0
30,0
320,0
250,0
Mount Morris
401,8 3,476.0
19,0 661,0
536,0
200,0
Mutual
473,7 4,079,0 334,0 412,0 1,020,0
100,0
Plaza
105,8 1.835,0 238,0
79,0
292,0
200,0
Twenty-third ward..
50.0 854,0
502.3 3,978,0
614,0
100,0
Yorkville
273,3 2,366.0 252,0
84,0
259,0
200,0
New Netherland
143,8 1.355,0 302,0
44,0
224,0
200,0
Battery Park Nat
33,0
163,0
300,0, 309.2 2,172.0 516,0
Aetna National
Brooklyn.
363,0
200,0 • 554,0 2,961,0 328,0 187,0
Broadway
856,7 5,616,0 621,0 156,0
839,0
Manufacturers' Nat'l_ 252,0
918.6 11,018,0 338,0 1,677,0 1,609.0
1,000,0
Mechanics'
598.0 4,070,0 366,0 269,0
841,0
300,0
National City
433,0
200,0, 161,7 1,939,0 183,0 108,0
North Side
94,0
641,2 3,527.0 400,0
446,0
300,0
First National
Jersey City.
1
400,0 1,287.6 5,225,0 208,0 382,0 2,269,0
First National
78,0
384,0
775.1 3,069,0 293,0
Hudson County Nat- 250,0
200,0
411,2 2,114,0 118,0 176,0
510,0
Third National
Hoboken.
58.0
220,01 632.4 3,580,0 226,0
307,0
First National
52,0
125,0
277,9 3,038,0 184,0
256,0
Second National
---Totals Aug. 5_ - 6,747.0 12,028,6 89,521,0 7,507,0 7,151,0 13,855,0
Totals July 29..... 6,747,0 12.028,6 89,031,0 7,753.0 7.555,0 15,000,0
Totals July 22.._. 0.747,0. , 89.666,0 7,809,0 7,949,0 14,985,0
Imports.
Exports.
Tot. Money Entire Res.
Holdings. on Deposit.
Legals.
---$
94.155,1 530,096,6 557.990,9
94,311,3 533,516,3 561,250,2
94,366,0 541,565.3 626,396,0
95,680,3 551,048,9 651,096,9
96,141,7 550,679,9 649,489,1
96.189,0 515,103,6 609,318.6
98.247,0 512,794,0 599.389,3
98.579,5 517,667.3 602,767,4
97,706,6 518,451,9 606,792,3
96,813,6 512,864,8 602,621,5
Reports of Clearing Non-Member Banks.-The following is
the statement of condition of the clearing non-member banks
for the week ending Aug. 5, based on average daily results:
Banks.
k
$
1,124,0
1,655,0
7,161,0
7,609,0
985,0
4,402.0
3,438,0
3,695,0
4,236,0
1,998.0
4,554,0
2,344,0
1,461,0
2,220,0
2,896,0
5,122,0
12,980,0
4,081,0
1,957.0
3.252,0
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$100
150,000
Week.
Sims Jan.1
$73,067
474.445
2.578
$43.917 1,210.023
9,310 2,942.917
75.454 1,970,367
23,928 • 1,317,293
--$152,609 $7,990,690
2,175,605 12,912,451
112,672 6,128.245
$3,500
1,655,730
1,083,561
172.250
$150,100 $2,915,041
2,150 44,443,653
1.000,000 74,850,602
Total 1911
Total 1910
Total 1909
liver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$1,291,799 $28,153,842
26.100 1,730,200
167.149
88,808
600
200
4,612
1,085
101,823
11.354
28,287
20,401
6,248
$1.318,699 $30,166.648
1,135,486 26.329.885
986,583 28,394,941
Total 1911
Total 1910
Total 1909
Since Jan.1
$170.928
7,823
19,987
33.295
2,508,647
944,323
1,012.979
$147,161 $4,697,982
127,683 2,466,251
64,911 3,139,051
Of the above imports for the week in 1911, $50,117 were
American gold coin and $4,623 American silver coin.
Nanking and pnanciaL
Diversify Your Investments
Write for our circular entitled "Judicious Investment." which
treats the above subject In detail.
Spencer Trask & Co.
• 43 EXCHANGE PLACE..-- NEW YORK.
Albany, N. Y.
Boston, Mass.
Chicago, III.
Members New York Slack Exchange,
4,076,0
2,333,0
1,840,0
1,778,0
1,336,0
88,533.0
90,779,0
92,894,0
WHITE, WELD & CO.
5 NASSAU STREET:
NEW YORK
•THE ROOKERY
CHICAGO
392
THE CHRONICLE
Canhere Otiztzettt
Wall Street, Friday Night, Aug. 11 1911.
The Money Market and Financial Situation.-To the forces
heretofore affecting security values adversely there has been
added this week a Government crop report which was disappointing. Every one in any way interested in the matter
knew, of course, that the excessively hot dry weather during
the early part of July had more or less injured the grain
crops, but few, if any, had estimated the damage as great
as the Government report showed it to be. This, with the
other influencesreferred to,has caused a further decline in the
security markets and several well-known issues, including
N. Y. Central, Pennsylvania, Lehigh Valley, Reading and
Missouri Pacific among others, have sold at the lowest prices
recorded during the year.
The 'crop situation is not, however, as bad as a ,casual
reading of this report might easily lead one to imagine. The
acreage in all the important cereals, as well as cotton, is
well known to be larger than ever before 'and the yield per
acre of corn and wheat will, in some localities, be fully an
average one.
The Steel Corporation's monthly report of unfilled tonnage
shows a substantal increase for July when compared with
previous months, but the state of general business, including
almost all branches of manufacturing, is still very unsatisfactory.
The tank of England reports a percentage of reserve in
excess of 54, as against a ten-year average for the season of
a fraction over 50. The Bank of France shows reduced gold
holdings. In this market the -demand for mercantile
and commercial purposes is so much below normal that the
volume of business is limited and the higher rates recently
quoted Tor time loans are with some difficulty maintained.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 2 to 2%%. To-day's rates on call were 2@2%%.
Commercial paper quoted at 3%@4%% for'60 to 90-day en4101)14%% for prime 4 to 6 months' single names
dorsements,
4%@57
0 for good single names.
and
The Bank of England weekly statement on Thursday
showed a decrease in bullion of .£485,428 and the percentage
of reserve to liabilities was 54.10, against 54.52 last week.
The rate of discount remains unchanged at 3%, as fixed
March 9. The Bank of Prance shows a decrease of 4,400,000
francs gold and 3,800,000 francs silver.
N.IV YORK CITY CLEARING-HOUSE BANKS.
(Not Including Trust Companies.)
1911.
Averages for
week ending
Aug. 5.
Capital
Surplus
Loans and discounts_
Circulation
Net deposits
Specie
Legal tenders
Reserve held
25% 'of deposits
Differences
from
previous week.
1910.
Averages for
week Wang
Aug. 6.
1000.
Averages for
Week 'ending
Aug. 7.
$
132,350,000 126,350,000
135,150,000
189,131,400 174,450,100
190,141,300
1,388,484,000 Inc. -1,477,000 1,208,192,400 1,361,527,800
48,378,800
47,734,000 Inc.
87,000
49,767,100
1,423,488,000 Dec.
637,000 1,230,753,600 1,430,251,200
995,000 .284,204,900 304,105,000
292,255,000 Dec.
011,000
77,622,000 Dee.
72,524,900
79,403,400
360,877,000 Dec. 1,606,000
355,872,000 Dec.
159,250
356,729,800
307,688,400
383,508,400
357,562,800
14,005,000 Dec. 1,446,750
49,041,400
25,945,600
Surplus reserve
Note -The Clearing House now issues a statement weekly show ng the actual
condition of the banks on Saturday morning, as well fts"the above averages. These
figures, together with the returns of the separate banks and trust companies, also
the summary issued by the State Banking Department, giving the condition of
State banks and trust companies not reporting to the Clearing HoUse, appear on the
second page preceding.
Foreign Fachange.-The tendency has been downwards.
To-day demand sterling went to 4 85% and cable transfers
to 4 86. '
[Vol, Lxxxxm.
About the average amount of business has been maintained
in the market for railroad and industrial bonds only because
a few issues have been very active. The market has been
weak, and in several eases a decline of 2 points or MOTE has
occurred.
American Tobaccos, Atchisons, Union Pacifies, Wabash
and Third Avenue issues have been notably active.
Wabash ref. It ext. 4s close 3 points lower than last week.
Third Avenue 4s are down 2% points and all convertible
bonds are lower in sympathy with the shares. American
Tobacco 6s have, on the other hand, advanced % and
Atchison gen. 4s, Southern Pacific 4s and Union Pacific lsts
are also fractionally higher than last week.
'United 'States Bonds.-Sales of Government bonds at the
Board are limited to $175,000 Panama 3s at 101% to 1023%.
Closing prices were as follows. For yearly range see third
page following.
Interest Aug.
Periods
5
2s, 1930
registered Q-Jan
2s, 1930
coupon Q-San
3s, 1908-18
registered Q-Feb
Is, 1908-18
coupon ,' Q-Feb
45, 1925
registered Q-,Feb
4s, 1925
coupon Q-Feb
2s, 1936_PanarorCanal re& Q-Feb
3s, Pan. Canal when issued.'
Aug. I Aug.
7 I
8
Aug.
9
Aug.
10
Aug.
11
9004 900;5 *1004 9004 9004 *1005.5
9004 9004'9004 '100)4 *1004 *1004
9014 *1014 *1014 *101 35 *1014 9014
9014 9014 *1013i *I
N A 9401 *1014 ,
*1134.91334 *1134(4.118% '113'4 913%
9134:9134 9134'913% *1134 *113%
100 14'100 *100 *100 *100 900
10141 1014, 1014 9014 102
102
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-There was a slight
reaction on Monday from the unusual decline which -characterized last week's stock market,and in a few cases a full
point or more was recovered. The downward movement was
renewed on Tuesday, however, and continued until a long
list of active stocks sold from 4 to 8 points lower than on
Monday.
Canadian Pacific was down 93/ points, Rock Island
preferred 8, Union Pacific 7%, Reading 65% and Lehigh
Valley 63. This was evidently the result -of urgent
liquidation as the volume of business was larger than on any
day since May 16th and except on that date has not been
Occeeded this year. At the level of prices then prevailing
contraots .for the short account were freely closed, with the
usual result that prices were bid up from 1 to 3 points.
This level was not maintained, however. To-day's market
has been feverish and irregular, with rather a sharp drop in
the last hour of business, which carried prices in aeonsiderable
number of cases to the lowest of the week. There has been
practically no exception to the general trend of the market.
For daily volume of business see page 402.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Sales
Week ending Aug. 11. for
Week.
Raneefor Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest. , Highest.
Associated Oil
200 52 Aug 2 52 Aug 9. 48
Mob 554 Apr
Am Teieph & Tele rights 28,8875 15461110;10 346 .Aug 55 15-16Aug
734 June
Batopilas Mining
100 $14 Aug 11 $135 Aug 11 1 $14 Aug $24 Jan
Col'Fuel & Iron, pref _
100 110 Aug 5110 Aug 51110
Melt 112
May
Consolidation Coal
100 101 Aug '8101 Aug 8,101
Aug 101
Aug
Detroit Edis.on
100 122 Aug 10122 Aug 10107% Jan 122
Aug
Evansv & Terrellaute_ 1,400 824 Aug '8 824 'Aug 0 80
'Feb 88
July
General Chemical
gad 135
100 1324 Aug 101324 Aug 10 /00
Feb
Preferred
20 08 Aug 8 108 Aug 8 10345 Jan 108
Apr
General Motors vot.tr ctf 1,115 48 'Aug 11 5134 Aug 8 48. Aug 5134 Aug
Preferred vol Cr
.700 84 Aug 10 364 Aug '5 '84
Aug 864 Aug
Homestake Mining
100 83)4 Aug 10 ROA Aug 10 8335 July 87
May
May Department Stores_ 2,200 73% Aug 10 78 Aug 5 70
Apr 87 June
Quicksilver Mining
Apr 334 July
300 24 Aug 9 2% Aug 7 2
Texas Pay Land Trust
900 90%.Aug 5 904 Aug
87
Mch 92
Jan
United Cigar Mfrs, pref.
100 014 Aug 81014 Aug
1014 Mch 1064 June
Va Ry & Pow, pest
550 784 Aug 5 184 Aug 1 784 Aug 83
Apr
Outside Market.-The activity in American Tobacco and
To-day's (Friday's) nominal rates for sterling exchange *were 484 S.5 for Standard Oil noted last week having
largely subsided, the
sixty-day and 4 87 .r sight. To-day's actual rates for sterling exchange
were 4'8350@ 4 8380 for sixty days, 4 85%@4 8585 for cheques and market for outside securities has relapsed into the dull state
8620
86054
for
4
cables. ComMercial on banks 4 82%®4 83
and which has been its chief characteristic for some time past.
documents for payment 4 83e4 83;5. Cotton for payment 4 83 ®4 133
As.a consequence price movements are without significance.
and grain for payment 4 83 Si ®4 63)4.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 21
American Tobacco has sold 'down from 399 to 377. MoveW1521 Si less 1-16 for long and 5 20 ® 5 19% less .3-32 for short. 'Germany
bankers' marks were 94 9-16@244 for long 'and 94 15-16@95 less 1.32 for ments in Standard Oil have been irregular, *the stock in
short. Amsterdam bankers' guiltlers were 40 20@40 22 'for shOrt.
the beginning of the week selling down 2 points to 600 and
The posted rates for sterling as quoted by a representative house remained
unti, Tuesday at 4'85 rer111Xty dayS and 4 -87 Tor -sixtrt, inn en that day later up to 614, -with a final 'reaction to 606. Houston Oil
common advanced from 8% to 9%, declined to 9 and ends
therm. was a reduction in sixty days to 4 84 4.
Exchange at Paris on London, 25!. 26c.; week's range 251. 2034c, high the -week at 93.
The'preferred sold at 72 on Saturday last
and 251. 25.4c. low.
Exchange at Berlin on London, 20m. 46
pr.; Week's range, 20m. and during the week -up to 75. Intercontinental Rubber
47
pt. high and 20m. 46)4 pf. low.
corn. weakened from 233-'g to 22 8, rose to 243 and again
The range of foreign exchange for the week follovs:
declined to 233.. Sales were -reported to-day at 25. StudeCheques.
Sterling ActualSixty Days.
Cables.
High for the week.... _ 4, 84
4 8640
4 8610
baker Corp. cam, gained over a point to '62 and dropped to
Low for the week.,... 4 833-i
486
4 8570
504. The preferred lost a point to 106 and sold to-day at
Parts Bankers' PramsHigh for the week__ _ 5 21 Si
5 11 4 less 1-32 5 18 q less 3-32 1063. In bonds N. Y. Westahester dc Boston Ry. 4%s
Low for the week_ 5"21 4
5 19 4 less 1-16 fluctuated
5 20
between 973% and 98, closing to-day at the low
Germany Bankers' MarksHigh for the week___
94 4
95 146
figure. 'Oregon-Wash. RR. & Nay. 4s lost about half a
95
Low for the week_ _ _
94-4546
95
94 9-46
point to 92. N. Y. City 434s sold down from 1023
% to 102%
Amsterdam Bankers' GuildersHigh tor the week___
40 29
40 12
40 25
1 and back to 1023%. -Mining stooks were dull and heavy.
Low for the week__ _
40 23
40 06
-40 19
Braden 'Copper weakened from 5X to 5. British Columbia
Domestic Exchange,-The following are the rates for domestic exchange
at the undermentioned cities at 'the close of the 'Week : Chicago, Sc. per sold down from 43j to 3%. 'Giroux advanced from 53 to
5
$1,000 discount. Boston, par. New Orleans, Commercial, Oc. per $1,000 5% and ends the week at 5%.
Greene 'Cananea eased off
discount; bank, $1 per $1,000 premium. Charleston, buying, par: selling, from
7 to'65% and recovered to 63%. Inspiration sold down
1-10% premium. Savaturrah, buying, 3-16% discount; selling. par. San
Francisco, 20c. per $1,000 premium. St. Louis, 15c. per $1,000 discount. from 7% to 73i and finished to-day at 73. Kerr 'Lake
St Paul, 40c. per $1,000 pre
Minneapolis, 30c. per $1,000 premium. was off from 53/ to
4%. La Rose Cowed
improved from
State and Railroad Zonds.-Sales of State bonds at the 4 to 4 1-16 and reacted to 3 15-16. Nipissing after an early
Board include $120,000 New York 4s, 1961, at 1025
% to advance from 83 to 85% sank to 83g,'the close to-day being
1027
% and $62,000 Virginia 6s deferred trust receipts at at 83.
50 to 52x.
Outside quotations will be found on page 402.
New York Stook Exchange-Stock Record, Daily, Weakly and Yearly
OCCUPYING TWO PAGES
4
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
Aug.5
Monday
Aug.7
Tuesday
Aug.8
Wednesday
Aug.9
Thursday
Aug 10
Friday
Aug 11
Sates of
the
Week
Shares
STOCKS
NEW YORK STOOK
EXCHANGE
Range since January 1. I
On basis of 100-share Sots.
Lowest.
iHighest.
Range for Prcrious ,
1'ear 1910.
Lowest.
Highest.
Railroads
2034 Jay 12418 Tan
10378 10658 124;600 A tch Topeka & Santa Fe 1001A Jan 3 11858 J'ne 5
10713 10814 108 10933 10714 10938 10614 10834 10458 107
Do pref
10034 Jan 3 10523 J'ne 12 297 J'ly 10414 11121.
10212 10212 310258 19312 103 1034 103 10318 103 10312 10313 10312 1,5.50
12234 12478 12218 124
*12512 127
3,325 Atlantic Coast Line RR_ _ 117 Jan 8 13213 J'iy 19 10212 Jly 13713 Jan
128 128
125 128 *126 128
10134 Aug 11 10234 J'iy 14 1004 Sep 12213 Jan
101 10414 10314 10334 10314 10378 102 1024 10134 10278 11,020 gtaltIrnoro &Ohio
10312 104
8714 Sep
89 *85
89
04 Jan
87 Aug 3 91 Jan 4
62 22 Do pref
588
88
*86
*85
88
*86
89 *86
89
6812 Feb
7478 Jan 3 8423 J'ly 20
8233 MST
7612 76
22,1300 Brooklyn Rapid Transit_
77
77
781_2 7714 7814 7673 7858 7613 7712 76
23734 24012 23412 23778 23678 23958 65,090 .anadian Pacific,
24214 24378 :4268 24334 23814 243
18Jan 3 247 J'iy 21 17634 Feb 20238 Nov
k
62 Mch 3 589 May18 *6012 J'ly
anada Sonthern
70 Jan
*5213 7214 36212 7214 *6212 7214 *6212 7214 *____ 724 *____ 724
*270 280 *270 280
100 Central of New Jersey__ _ 272 Mch 20 966 Feb 21 248 J'ly 312 J422.
275 275 *270 282 *270 275 *270 280
65 Aug
62 Jan
7284 Aug 10 11634 Feb 8
77
7838 7714 7812 7613 7812 7512 7712 7234 7512 7278 7434 86,875 Chesapeake & Ohio
2378 J'ly
80 *20
25 Apr 7 3118 May23
150 Chicago is Alton RR
64334 Jan
30
*20
*20
30
SO
*20
30
25 25 *20
Do prof
6972 J'n2 132 Apr
50 *40
50 *40
62 /d21117 53 Jan 19
*40
50 *40
*40
50 *90
50
60
10 J'ly
2112 *2084 214 '2018 2014 20
3678 Jan
20 Aug 11 2514 J'no 6
21
21
21
204 2,200 Chic Gt Went Irru2t
2078 21
Do
pref trust etts
44 *38
13418 Jan
42 Apr 26 4.214 Feb 6
40 XIV
43
44 *4212 44 *42
100
*40
43
43 *41
43
12212 12372 12212 12412 12178 12414 121 12312 110 12032 311458 11712 '95,760 Chicago Mlivr & St Paul _ v/1458 Aug 11 13823 Feb 7 11334 J'ne l583 Jan
Do pref
147 Jan 3 15512 Feb 2 143 Sep 17214 Jan
100
152 152 *150 160 4448 152 *14612 152
*15012 153 *150 1.53
141 14112 14013 1417 14013 14012
860 Chicago & North Western 14012 Aug10 15012 J'ne 12 15714 J'iy 13212 Jan
142 143
14312 144
143 143
Do pref
201 20112 221 201 *196 202
52049 Jan 4 52(2) Jan 7 203 J'ne 225 .lan
1,000
201 201 *201 205
*201 205
132 132
300 Chic St P Minn Is Omaha 1304 Apr 20 14.4 J'ne 12 140 Apr 16212 Feb
132 132
*131 140 *182 140 *132 .145 *132 135
pref
152 Feb 18 160 Mch27 5160 Apr 117014 Feb
*150 160 *150 160 *153 165 *150 160 *150 160 *150 160
5.333an
Chi() tin r2rao .ctfs stmpd
218 Dec
2 Apr 7
3
212 *2
338 Feb 4
234 *2
*2
212 *2
3
234 *2
*2
Do pref ctfs atmpd__ _
*5
512 *5
7
278
1214 Jan
5 J'ne 2
74 Feb 6
478 Sep
*5
6
*934 512 *434 512 *5
*5412
5912
*2312 5912 *5312 5912
2214 Moll
65
61 Nov
200 Cleve Cln Chic fe St L.._ _ 55 Aug 8 66 Jan 18
5912 55
*55
5912 *65
Do pref
2414 J'ly 8 93 Feb 1
99 Sep 104 .1an
*9412 100
*9413 100 *0413 100
*9412 100 *9412 100
*9412 100
504 Ang 10 60 Jan 18
53
6534 kab
52
412 J'IY
55214 '5214 5018 5018 5014 5014
*52
54
070 Colorado & Southern__
553
53
Do 1st preferred
744 21ch 27 82 J'ne80
80
70 J'ly
81
*81
83
80
83 Melt
81
335
7014 794 *29
82
81
*80
7313 Jan 11 7112 Men 2
Do 2d preferred
75 *75
80
75
80
70 A212 81 Jan
80
80
*75
*75
*75
80
100
*75
16414 Jan 3 17478 J'ne 8 .1491441Y 185 Jan
elaware & Hudson
1137 16738 §167 167 *166 172
167 16734 167 167
1,095
168 168
claware Lack ec West_ 510 Feb 9 560 J'ne 6 400 J'ly 620 Mob
538 545 *630 850
*538 579 *538 570 *538 520 *53S 570
400
2814 J"15, 52 Jan
26
2634 2634 2714 2712 2714 2734 2634 2634 25
2512 2578 1,500 Denver & Rio Grande.._ _ 2512 Aug 11 35 Feb 15
5418 Aug 11 74 Feb 21
Do prof
§50
56
84 Jan
56
5614 5612 5912 66
5453: 55
56
5418 55
1,888
825 .
11Y
1834 Jan
934 Aug 5 1358 Maim)
10 .Ply
10 *10
12 *1014 12 *10
934 1012 *04 1314 10
13
700 Duluth So Shore & Atian
20 Aug 9 3013 Mch80
17 J ly
Do pref
23
2033 2038 20
20
2458 Jan
20
20 *20
2014 2014 *20
23
400
2714 Jan 11 3838 J'iy 1
3314 3158 3278 3038 3112 30
33
32
192, J'117 3458 Jan
3134 3212 32
817a 65,450 Ulric
4558
Jan
12 614 J'ly 1
35 J'ly '5234 Itch
5112 5234 5238 5313 5214 6312 5114 5112 4913 5058 4912 51
15,200 22.1 Do 1st preferred
35 Jan 9 4234 J'ly 1
2614 J'ly
43 *43
42 Melt
Do 221 preferred
*4312 4412 43
43
4412 4012 42
43
3933 4012
825
122 Feb 24 140 J'ne 8 118 .112. 14378 Jan
12612 110
12514 128
12412 126
12438 127
128 12914 10812 130
57,240 Great Northern pref
8012 Jan
45 J ty
Iron Ore
- 4814 Aug 11 12:34 Feb 2
54
5412 5212 54
54
5112 4814 5112 14,800
53
5134 5318 50
11 Aug
1818 Mob
14
*13
14
13.1,cleb otfB 12 Aug10 1514 Jan 17
*13
1312 *13
*1214 13
12
12 *12
14
2 Green Bay &properties_931: J'ly 22 2613 J'ne 19
8813 Jan
9713 Apr
avana. Electric
*9312 9212 *0312 0012 *9312 9912 *9312 9912 *9312 9912 *9312 9912 2.-9334 Jan 12 924 J'ne30
02 May 99 ,an
Do preferred
128 33ch24 134 Aor 29 112 JIle 140 Oct
Booking Valley
135 *___ 125 *2_2 125 *____ 185
*___ 135 *---- 135
132 Jan 8 147 fly .31 124 Jay 147 Jan
139 13934 13813 13812 13758 13838 13818 .13812 2,900 1 iltnois Central
13814 13814 130 140
1414 J'iy
2512 Jan
1612 1634 1653 3634 1638 1711 1618 1612 16
1634 1514 1613 8,725 143.terboro-Metrop v t elfs 1534 Augll 2038 Feb 10
4234 Aug10 568 J'iy 19
Do pref
4112 J33' -6278 Jan
4533 4638 4512 4613 4434 46
12,025
46
45
4334 45
4334 45
424 Aug 11 5512 J'Iy10
Do prof vot tr 008_2
47
4533 4573 *9434 45
800
4234 4.234
448 4483 *4512 46 *46
15 May12 124 Feb 3
15 J'ne SO Jan
1834 10 *1834 1914 1812 1834 18
*18
19
1,300 Iowa Central
18
318
19
1414 Jan
28 Apr 24 37 Aug 3
25 J'ly
Do preferred
3612 3612 36
36
1,120
36
37
36
36
34
34
*3912 36
38 Aug
80 Feb
200 .1j" C Ft8 & M tr etfs.pref 74 AP4' 8 76 Mac 4
75
75 *73
*75
80
80
*73
80
80 *73
86 *73
30 Aug 11 3722 J'nel3
23 J'iy
4414 .n11
3114 3,900 ia-ansas City Southern
3238 3214 3238 3218 3258 32
3078 3144 80
32
32
6412 Jan 3 6934 J'ne 13
58 Am: 71 Jan
Do
preferred
300
0678 *6534 62
67
62
*67
6734 *8878 8812 *0078 6734 66
15 J'ne
2534 .lan
300 T ake Erie & Western_ 13 Aug 9 164 J'n2 16
*14
17
*14
16 *14
16
13
1414 *10
15 *1014 12
27 Aug10 46 Jan 13
3714 Dec
6234 Jan
400 2-1 Do preferred
*28
32 *28
32
28
30
*28
30
27
27 *25
30
16514 Aug10 18118 Feb 3 17314 Dec 286 Nov
16914 17158 17014 17138 129 17153 167 17014 16534 16712 16638 16814 73,400 Lehigh Valley
60 .1212
Long Island
7014 Apr
4973 Aug 4 63 Jan 16
*4913 52 *4912 52 *4912 52
*4912 53
*4913 52
*4912 52
14512 14718 14412 14512 143 195
14218 14413 6,500 Louisville & Nashville_ _ 14213 Augll 1562 J'iy 19 13113 J'ly 15913330
145 146
14618 147
14212
.1a.n
Jkie 146 Oct
19
123
28
Mch
1V1
134
anhattan
Elevated_
450
_
137
137
135
1311
*134
136
*136
142
*135 145
13712 13712
23
.rly
26
32
•J'ly
10
Apr
121
5334 Jan
30 *30
aoo -inneapohs & St Lout., 2113
530
33
30
30
*25
*25
33
33
40 Seo
80 Feb
Do preferred
36 Mch13 50 Feb 14
*40
50
45
45
4.5
45
45
45
300
133 13412 4,075 Minn St P & S S Marie__ _ 132 Aug10 15214 Mch30 114 J22 145 Stab
13434 13712 13514 13534 132 135
15-572 13564 13634 1114 *152
144
J'ne
160
2121130
15513 Melt
Do preferred
14744 Jan 6
150 150 *145 150 *14734 14913
156
100
*152 156 *150 155
Do leased tine ctfs
8713 I'll' 5 9012 Me1215 28614 Sep
*85
93
93
92
*88
93 *85
2234 Jan
90 *88
90 *88
*88
27 J'.12.
5113 Jan
31 Fab 24 3818 J'ne 14
3238 33
3212 334 6,000 Mo Kansas 22 Texas
3478 3338 3378 3318 34
34
34
33
10
57
J'iy
.1'ne
Do preferred
7458 3an
6312 Jan 16 69
157
6514 6612. 66
66
400
6678 6678 *6612 6814 *6614 6814 *66
41 J'12
7158 May
Missouri Pacific
4012 Ang 10 63 .Feb 15
4258 4518
4418 96
4514 46
4934 48
- 15212 *150 2 160
35
'
32 'Nf ash Chatt & St Louis_ 14014 Jan 10 18) J'ne 14 125 J'ly 140 Nov
.
*195 155 *152 160 *150 160 *150 160 515212
60 Feb
-1-1 at Rys of Max 1st pref 83 May24 7238Jan 213
.7238 Nov
67
67
*63
66
*63
*63
6712 4234
*54
6772 *04
07
1712 Nov
Do 26 preferred__ - 2834,Aut 10 3818 Feb15 .2312 J'1.12
314 2834 2834 2912 2912
700
*2914 3012 *30
3012 2912 3012 *30
10512 10218 10613 10614 1013 10513 10314 10473 25,000 N Y Central & Hudson_ 103 Aug10 11512 Feb '3 1054 rly 128 Itch
106 10034 10612 107
N Y Chic & St Louis
6878 Nov
5513 May
59 *57
59
5712 Apr 17 65 Jan 19
50 *57
59
59
*57
*57
*57
59
*57
.Do 1st preferred
10112 Feb 21 10158•Me)220 5101 J'iy 10934 Jan
*95 102 *95 107 *95 102
*10112 107 *10112 107 *10112 107
Do 243 preferred
98 Jan
88
83 Apr 7 90 ,Jan 27
8234 Apr
*8212 90 *8212 90 *82
*8212 90
*8213 90 *8212 20
2,445 N Y N 2I 4 Hartford_ _ 134 Aug 1.1 1.2118 Feb 23 149 Apr 162 Molt
13514 13514 134 136
13534 136
136 137
13514 13012 13538 136
Subscription receipts 2- 141 May12 145513'Feb 27 I:143 J'ne /4151 Mch
"4-1-1-3 4013 4153 -96.4 -4068 40 9013 3913 4013 4,965 N Y Ontario & Western_ 3912 Aug 11 4678 J'iy 22 3813 Aug 50 Jan
"4612
.10014Jan 3 11014 j'ne26
16,700 Norfolk & Western
8812 J.1Y 10853 Mob
10418 1064 10434 10514 10418 10313 103 19412 10212 10312 10234 104
Do adjustment pref,
9114 Mob
88 Feb
92
92 *89
92 *89
92
92 *89
5534 Apr 18 9114 J'ne 8
*89
*89
92
*89
4018 Dee
35 Feb
100 Northern Ohio Tree & Lt 3912 Jan 3 51 Aug 8
*5178 ____
*524 _ __ _
51
51
*5012 *5034 60
116 Jan 3 13778 J'ne 8 11112 Aug 1453s Jan
12853 12514 12278 12558 122 12412 ii054 11212 11912 12318 102,696 Northern Pacific
12212 124
pacific Coast Co
100 Jan 11 102 Jan 10 100 Oct 11834 Jan
*95 105
*95 105 *95 105 *95 105 *95 105 ,
*95 105
Do 1st preferred
*35 110
*85 110 *85 105 *85 110 *85 105
*85 110
Do 26 preferred--- '9934:Ply 5 102 Jan 11 105 'Feb 1.18 Jan
*95 105 *95 105 *95 105 *05 105 *95 .105
*95 105
120 Aug10 1304 Feb 2 12213 J'iy 13813 Meli
43,220 Pennsylvania
120 12118 12018 121
12158 12214 12178 12212 1214 12214 12118 122
9624 1,000 Pittsb Cin Chic & St L2.-- 9313 May13 100 Jan 17
89 J'ly 102% Meti
0418 *9334 9634 *9334 98 *94
94
*94
08
94
94
108 Aug 11 112 Feb 17 110 Oct 116 gob
Do preferred
109
108 108
*108 115 *108 11512 *108 115 *108 115 *108 115
14512
Aug
11
16134
Feb
7
58.Ply 1724 Feb
130
14813
1515
8
718,366
1534
148
14658
1484
150
14512
15118
153
15118 15258
eal.
.gg
i preferred_---- 22 kick 1 92 J'iy 14 x85 Aug
9312 Feb
92
*90
100
*90
92 *00
92
92
*9018 9058 9053 9004 *91
9058 Aug10 101 May 2 •87 J'ty 11012 Jan
2d preferred
92
92
0058 91.
93
91
91
1,300
93
*92
95
*92
94
2678 Aug 11 3438 J'ne 14
2278 J'1Y
5714 Jan
2818 2673 2838 41,250 Rook Island Company
2812 2912 2814 2918 27
2912 2918 30
29
Aug
11
54
5113
69
5
3
J'ne
14
9213 Apr
Do preferred
54
5112 5414 14,010
J13.
56
52
594 56
60
52
5934 59
59
63 Aug
73 Jan
t L & San Fr, 1st pref_ 61 Apr 24 6914 J'ly 27
300
6612 *65 '8612 0618 6018 *66 '6713 6434 65 *0512 go
*65
3412 Aug
38 Apr 22 4912 J'ly 19
60 Jan
Do 2r1 preferred_ .._ _
4212 44
5,350
45
4512 9412 4534 4414 4614 4434 4514 4312 44
1813 J'iy
24 Jan 13 34 Feb 4
1413 Jan
2821 2834 *2834 30
*2834 31
100 St Louis Sotrihwestern- _
*2834 30
*2834 31
*27
80
5112 J'1Y
5234'Jan 3 72 J'im 26
7712 Jan
Do preferred
68
*68
69
6912 *66
71
69
1,500
70 *68
70
70
70
11338 Apr 18 12648 J'ne26 10314 J'15, 213314 Jan
111 11534 114 11638 108,550 Southern 'Pacific Co
11612 11314 117 11812 117 1194 11612 118
337
4 Jan
18 J'iy
25'2 Mch 4 3338 J'ly 19
2978 3012 2913 308 2014 3014 2814 2914 2838 2913 43,775 Southern v tr Otis stmpd_
2912 30
2514 .Fly 20
43 2fly
75 Jan
Do prof
614 Jan 11
6813 7018 6814 89
do
704 71
13812 6914 5,500
71
7012 71
70
Feb
21
Is
3154
J'ly
Frexas
Jan
2213
3634
&
2512
Jan
Pacific
27
2712
2534
274
2634
26
2614
2,700
2714
2634 2078 2614 2712
hird Avenue (N Y)
4 1012
1912 Jan
64 912
51
.J'ne
510
10
1,060
814 Aug10 1412 J'ne 9
84 9
014 1014 *93
034 073
31, Jan 17
632 '038 *6
612
*5
Toledo
7
8
'51
2
1534
Railway's
*6
634
638
Aug
J'iy
Jan
200
&IA_
*034 712 *034 712
10 J'ly
5438Jan
600 Toledo St I.. & 'Western_ - 19 Apr 24 2434 Feb 8
20 *1812 20
2014 2014 .2038 *1918 '20 *19
1912 1924 20
Do preferred
4413 Aug 0 614 Jan 5
4234 J'iy
4413 4434 2,510
7214 Uan
44
45
41313 45 '4634 21434 4618 4412 4518 *40
nsit _ '106 Augll 111 Feb 2 103 J'ly '11713 Jan
450 TWIT). OltyIlapI
10673 10673 10612 10612 *1054 10612 106 106
10634 1061, *10634 108
.
____
....
- 16034 Jan 12 19233 J'17 172 15214 .1.1Y 20434 Ign
18078 18254 180 18334 17814 '18128 17573 17838 17373 178 804,200 Hnlon Pacific
18012 183
Do preferred____ _ _ '9074'Men 6 96 J'ly 24
3814 J'ly 10334 Jan
9258 93
'9213 9213 0212 9268 1,850 '
9312 0412 9314 9/34 93 '93
2334 Joe
4214 Jan
300 Unit Rye 1nv't of San Fr :3143Jan 11 41) Feb 20
39 *3513 38
30
*3512 3773 *36
3634 *36
36
*34
135
Do .preferred
6434 4_ _ 63
-6034 Jan 2 7024 NIch22
47 J'ne
7238 Jan
700
'03
63
63 183
6414 61
08
35
*60
& Power
38 Awn) 45 Apr 24
384 4.28
3812 38 88 *____ 3812
400 ViVnia
3812 3812 *38
3812 *38
194 Aug 11 1833 Feb 23
4252 rty
15
2734 Jan
1518 15
1412 1484 2414 1414 2,500
15
15
26
16
15
3118 Aug10 40% Feb 23
)
8o
h preferred
f818 J'ty
4,100 TV (tb .
61 Jan
3144 32
3234 *3112 3212 3118 82
3112 3213 32
3234 32
4818 Apr 14 051. J'ly
40 J'iy
5438 kith
5973 '5,400 Western Maryland fly,_ _
50
58
5078 6012 60 '6013 5034 6024 60 6014 57
75 Jan 14 8814 J'ly 24 17 'Aug 77 Dec
Do preferred
*75
87 *70
85
87
*75
87 *75
*81
87
3 J'ne28
014 Feb 1
312 43
314
--318
312 *3
200 Wheeling ec Lake Erie
3 Apr' 10 Jan
*3
312 *3
312 223
712 J'ly 27 17% Feb 3
Do 1st preferred
9' 423
9
8 J'ae
23 Jan
9
*7
*8
*8
9
9
*8
0
*8
4
Jly
15
8
Feb
7
4 4'ile
2d
preferred
1312 Jan
Do
*1114
414
33
4
414
412
*
214
*4
.4
4
14
412
2.31
*4
84 Nov
52 Aug10 7218 May 1
44
591
,
2 5738_ 52
54_ _
5552 92425 Wisconsin Central
62 '62
60 '6012 '55401
D
R
S
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Thinks '
New York
Aetna
America 11
Amer 22221).
Battery Pk_
Bo wery2 __ _
13roltx 04r242
Breax Nat.
Bryant Pk 1
Butch & Dr
Ceatury 11
Chase
AA
Ikti
ok
;Bziliti
'Banks
Banks
175
Filth
Chat&Pkonlx 120
360
385 4.31108ea 15x1, 200
180
4-55 14th Stil_. 150
Cheirrical __ 445
600 615
100
166
Fourth
t 20478 2908
225 270 CitAzerts' CU 160
435 .415 Galiatin
155 City
145
335 '340
2;
Gar
r
ni
t12
.
/AIni
.
160
413 Coal * Iron 150
400
......
320
Golenlai 2_ 400
2
1.9
4S
2iiii- Columbia 2.. 375 400 Uorrn'n Ex 485
190
100 Commerce _ (205 121613 Gormanila 11_ '550
153
.
755325 Gotham -, 150
148 Corn Ex II„ 315
133
155
East River_ 115
120 Greenwich 1 240
_
155
2'50
Hauover_ 640 650
175
Fidelity 1_ 125
iki. 575
' 2tith Ave1, 4100 4350 Harriman _ 285
___
Bid
Ask
112
141
112
.cx1 i
:..
t'g
nsil
;
i
0
•1
114nrev
:
1rd
ri::1:
lAuerty____ 575
Gino/in--- 375
Vanhattan 330
ila
eg.213.
L
17
.3s in?
Mercrantlie _ 150
AFerch Email 165
Merchant-T.. 130
Metrepolbs 1 370
Metrepoi'al 103
f
A5s_5k. NmamatBsi
aa
nurkrif
s If.._ a00
.81.2
585
_ )2 ti tuai II_- !:5
0
Ask
260
225
000
425
350
255
i27,r Second ---- 385
875 Sherman__ 136
New Netted 210
Ne
m
w Yo
yrokrOo
k.. 900
Banks
814
Prod Each $ 170
ileeaileirvera-:: 472
19th Ward _
PaeltIcl_ _ __ 300 ?F0
2
:3
?1 11111°W111V
aii....:
i 25°
175
100- Park
170 Pc01162's 2
:: VYZ11 1-11 :26i NI
f7722-11(
3-7_7.5
West Side i
185 Plaza1
025
Yorkvilie 1- tit
315
205
21214t and asked Prlcas: no mates were made on'thts day. 2/2x-rights. Mess than 100 shares. -7State banks. a Ex-ttividend and rights.
rit'Stockl3*rehange or at amnion this woek. h FirstInsballment paid. 'n Sold at private sale at this price. 8211 paid. y 311 paid.
Ask
175
98
4-1,kr
fii.
fitil
I::
---.
--
New 1120411
394
srorKs-HIGIIRST
Saturday
Aug.5
Lxxxx.m.
New York Stock Record-Concluded-Page 2
413onaay
Aug.7
AND LOWEST SALE PRICES.
Tuesday
Aug.8
Wednesday
Aug.9
l'hursday
Aug. 10
Friday
Aug. 11
Sate. of
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Range ,
inee January 1.
On havis of 100-share tots.
Lowest.
Iitoltest.
Range to* Precious
Year 1910,
Lowest.
Industrial&Miseellaneous
*228 238 *228 238 *228 238 *223 238 *225 235 *225 235
A dams Express
4234 Ply 3 5295 Apr 7 1235 Dec
*612 718 *638 8
*634 718 *634 7,8 *04 734 *034 734
la Ills-Chalmers
Aug
V2 Ply
*2234 25
2234 2318 2214 2273 23
*2212 24
21
21
23
Do pref
2°1 A u g 13
1,800
1 3°
434 X
I/le
"
an :13
27 Aug
63.58 6453 6273 6434 63
6212 64
6453 8134 6313 62
6334 74,710 Amalgamated Copper_ _ _ 5958 Apr 18 7158 J'ne 10
5518 Jig
5812 6612 5612 50
5712 1,200 Amer Agricultural Chem_
5714 *5658 58
56
*56
50
613
46 Jan 3 60 Mayi.
35 J'iy
*10014 ____ *10114
*10114-Do pref
10134 Jan 27 103 Feb 7
*10114
9914 Apr
- *10114
5014 5178 4914 5212 5012 5178 4973 5013 5014 5112 ib;i,V) American Beet Sugar__ _ 3934 Jan 12 5638 J'ne 10
4918 -56
24 Ply
101
*97
*95
101
197
9812
9814
97
*95
*95
*96
9812
Do pref
110
1'212 Jan II 10013 J'ne 14
80 Jig
*9212 9134 *9212 9434 *9212 9414 *9212 9434 *92
94
*92
94
Amer Brake Shoo 64 Fdy_ 90 Jan 13 97 Fen 27
8212 Oct
*13012 13314 *132 13314 133 133 *131 13314 *130 133 *130 133
12618 .Ian 5 133 Feb 23 119 J'Iy
Do pref
100
1014
1012 10
1012 10
10
1078 *10
878 Jan 6 1213 May 9
934 934
934 934 4,850 American Can
1378 J no
8412 8512 84
85
8412 8514 8412 85
83
8334 83
84
Do pref
12,025
77 Jan 5 8878 Ma)23
62 Ply
5314 5034 5213 50
5318 54
53
5312 5412 5358 54
5213 5.800 American Car & Foundry 50 Aug 11 5814 Ply 19
3912 Ply
11814
*11612
11613 11612 11573 11578
11714 11712 +117 11814 117 117
Do peer
11414 Mch 13 la/ May23 109 J ns
600
5.378 5412 5414 65
5378 53
5414 5414 5334 5414 53
5378 4,500 American Cotton
43,4 May 2 6238 Feb 28
:>213 J'iy
*99 102
*99 102
*99 102
*99 102
*99 102
*99 102
100 May26 10512 Feb 16 100 Dec
Do pref
228
225
*220
225
*220 230
1231 232 *227 231 *225 230
4224 Jan 115255 Jan 27 4236 Dec
128 American Express
4
4
*4
438 438 *4
414
4
412 *414 438
4
334 Jan 25
313 Sep
5 J'ne 14
200 American Hide & Leather
2512 23
23
*23
*23
*23
25
23
24
23
2112 2113
Do pref
20 Jan 10 2058 J'ne 14
SOO
19 Sep
1911 20
1934 20
1934 2013 2018 2012 1973 20
h73 Jan 17 2534 Ply 11
*1913 20
2,880 American Ice Securities_
1638 Dec
11
1012 1012 *10
11
*10
11
973 10
*10
8
8 Aug 11 1234 Fob 14
9
700 American Linseed
1018 J15,
*28
31
*28
El
31
*28
*28
29
31
29
*28
29 Aug 10 34 Feb 14
81
Do prof
100
2512 Joe
3713 3818 *3714 3814 3634 3714 37
3818 *3813 39
38
88
3534 Apr 21 4314 May22
2,350 American Locomotive
20 J'iy
104 104
106 106 *10353 107 *104 107 *104 107
10414 10434
104 Apr 18 11013 Jan 13 10212 Aug
Do pref
300
5
*4
5
*4
5
4
4
*4
514 *4
414
5
353 Feb 17
314 Dec
538 Jan 21
200 American Malt Corp
39
39
39
3858 3858 39
38
3812 *38
311211613 8 4358 Ply 22
40
Do pref
1,100
2813 J'ne
3814 39
*88
89 *88
89
89
*88
*8713 89
8838 8333 *8814 89
100 Amer Smelters Sec pref B 86 Mob 8 bUlii Ply 19
82 Ply
7318 7438 7418 75
7234 75
7212 74
7034 7214 6973 7214 64,525 Amer Smelting& Refining 8978 Aug 11 8378 J'ne 15
6138 Ply
10514 10514 10514 105.14 10518 10518 *105 10512 10412 10518 105 105
10318 Jan 3 108.2 J'ne 15
9314 J 'Iv
*250
*250 ___ *250
250 J'ne 1 323 NBIA 23 245 Nov
_ *250 -- *250
American
p PrefSnug
*9612
*250-- *9612 ---- *9612
*9612 99
*9612
*9613 ____
97 Aug 3 101 May 8
Do pref
9512 JIIII
*38
38
38
39
38
38
38
38
37
37
536
30
850 Amer Steel Found (new)_ 30 Ply 7 5212 Feb 9
38 Ply
11534 116
116 116
117 11712 117 117
11513 11534 11514 11534 2,100 American Sugar Relining 113 Jan 6 12212 Feb 27 11118 Oct
118 118 *116 11912 *116 11912 *116 118 *110 118 *116 117
111 Jan 5 11013 Feb 14 11112 Dec
13518 13514 13518 13514 13473 13514 135 13518 13.313 135
p riear
lj nefTeleph 3c Teleg 13413 Aug 10 15318 J'ne 8 12634 J'IY
13412 13478 10,2
0 American
10
7°
9312 9212 93
9312 9334 9412 93
94
9518 9414 9414 93
3.140 American Tobao (new), ph 9212 Aug 11 10- May18
9012 PlY
*3012 3212 30
30 *29
33
30
*31
*2914 301
500 American Woolen
2914 Aug 11 3612 /deli 21
1 291
2518 Ply
91
90
9038 9078 9012 9012 *90
90
9014 9014_______
625
Do pref
8612 Men 29 11014 J'ne 15
0013 Deo
29
28
28 *28
29
*28
*27
2912 *28
28 *27- -2-8-13
600 Amer Writing Paper, prf. 2/34 Meh 7 3412 Feb 15
137
37
3712
3634
37
3634
3714 3713 3678 38
37
37
2,210 aAnacondaCopper Par$25 $3618 Apr 18 $4118 J'ne 13 53312 Ply
3214 3012 32
33
3112 3212 3112 3238 32
32
3058 3114 7,400 13ethlehem Steel
26./3 31(.1114 3818 Aug 1
21 Joe
6112 6012 6012 5814 80
6112 61
81
01
60
6178 3,350 11
60
Do pref
49 Aug
6814 Aug 10 6634 J'ly 31
140
140
140
140
140 140
*13712 140 *138 140 *138 140
135 Jan 3 14512 J'ne 8 125 Ply
400 Brooklyn Union Gas
*8
10
*8
*8
10
10
*8
10
*8
10
*8
Brunswick Term& By Sec
10
9 Jan 6 1034 Feb 13
8 Poe
*2913 31
*2912 31
*2913 31
*2713 31
*2913 31
*2912 31
Butterick Co
28 Feb 18 31 Mc1130
28 J'ne
2712 27
27
2712 2578 27
2712 23
24
2508 2478 2518 8,800 lentro
pal pLet
re ather
24 Aug 10 3378 Feb 2
2514 J'ly
9912 9912 9912 9912 *99
9934 98
9918 9778 9778 *97
9914 J'IY
99
9778 Aug 10 105 Feb 10
700
2178 *2158 2173 1912 2118 1934 20
2112 2178 2114 2158 21
9,950 dChIno Copper...._ _Par 55 $11/12 Aug 10 52534 May19
*30
31
3338 *3012 34
30
3014 3012 2934 30
2934 2934 2,400 Colorado Fuel & Iron_
2812 Apr 22 3618 Feb 6
2213 J'ly
140 14034 14034 14134 140 14158 1391,14112 13814 13912 13714 13934 19,400 Consolidated Gas (N Y) 13534 Jun 3 148 J no 6 12212 Ply
*1312 14
1312 14
1312 1312 1312 1358 13
1318 1238 13
1258 Aug 11 1534 May17
3,100 Corn Products Refining_
1112 Jun
80
79
80
80
7958 8012 7912 81
7412 Jan 10 85 May29
*79
80
8012 *79
Do pref
1,448
7038 Ply
3214 3212 33
3314 3278 3314 §33
33
3212 33
3338 2,960 Distillers' Securities Corp 3214 Aug 5 3814 Mch 1
33
2514 .1.1y
*25
35 *____ 35
35 *20
35 *___ 35 *__ 35
Federal Alining & Smelt'g 1734 Jan 28 30 Feb 16
12 Oct
*60
4315 Jan 11 6612 May19
68
68
66
*60
*60
88
*60
Do pref
37 Oct
6012 6013 *50
100
6314
154 15434 152 15234 152 15414 9,400 General Electric
15414 15512 15514 15612 155 157
d 314318 Men 3 16838 May29 134 J'iy
534 573
3734 Oct
778 Jun 3
512 Jan 14
534 534
534 534
534 534
512 534 7,700 Goldfield Con M_ Par $10
512 534
118 11958 118 11812 118 11812 117 11712 11434 11678 11518 118
8,800 I nt Harvester stk tr efts 109 Jan 3 121138 May 5 s8318Feb
*124 125 *124 125 §125 125
124 12414 *12112 12214 *12012 12214
Do pref stk tr etfs__ 12214 Jan 3 12814 May 4 x117 Aug
280
434
*4
*4
434 *414 5
434
*4
4
*4
578 Jan 30
4 Aug JO
5
414 J'ly
100 Int Mer Marine stk tr ctfs
*1514 1613 1514 1513 1,500
18
16
1578 1618 1514 18
18
16
Do pref
1514 Aug 7 1314'rue 17
1258 J'ly
1112 1018 11
*11
1112 *11
1018 1018 *10
*10
11
11
1,850 International Paper
ii .I'ly
913 Apr 27 1338 Jan 31
*46
47
4612 47
47
*40
47
4458 May15 5638 Jan 17
•.'112
4612 *46
48
48
47
Do pref
810
38
3612 3712 3412 3634 2,100 Internat Steam Pump... 3413 Aug 11 44 Feb 8
39
*38
3658 J'ly
3814 3814 3733 3814 38
8812 8778 8778 *87
88
8712 8712 *87
87
87
8412 Jan 28 11012 J'no 12
*80
Do pret
88
400
7812 P1Y
10414 10173 104 10412 10334 10414 10334 10414 8,210 Laclede Gas (St L) nom
10414 10434 10468 105
102 Apr 18 114'2 Jan 20
9334 Jig
86
8518 8513 8412 8413 8312 8313 8114 8314
86
87
*85
8314 Aug 11 95 Feb 2
600 Mackay Companies
70 Jig
75
*70
74
75
79
75 *73
*74
*71
72
75
72
pref
77
Do
11
Alch
Aug
7
72
400
71 Ply
21
2078 21
2012 2113 2034 2114 21
2033 1912 2014 5,100 dMiaml Copper_Par ;5 51814 Apr 18 $2278 Pne28
20
133 13312 *132 13913 13313 13313 133 133 *13214 13512 *131) 13/12
11714 Jan 16 141 Apr 4 100 Aug
900 National Biscuit
1/12818 12913 *12818 12914 *12818 12913 *12814 12914 12814 12814 *128 12918
Feb
.7
Do pref
124 Jan 20 130
200
31834 Jig
*17
1818 1813 1712 1758 *17
19
1712 17
18
18
900 Nat Enamel'g & Stamp'g 16g May29 22 Ply 24
17
14 Sep
98
*96
98
*95
06
96
*95 100
90
96 *95
97
Do pref
200
85 Jan 6 10034 Ply 22
84 Oct
52.14 54
52
5338 54
5334 51
5113 5034 5113 8,310 National Lead
5312 54
50/8 Apr 25 59 Feb 2
4612 J'IY
35
Do 3pref
*10712 10934 *10712 10934 110812 10812 *107 10934 *107 10934 *10778 10934
10514 Mch24 10913 AlaY22 10134 J'ly
1712 1818 1753 1814 1738 1734 1738 1758 1712 1773 1,500 dNev Cons Cop er_Par 55 51714 Aug 5 $2114 J'ne 14 ..1712 J'ly
1714 18
75
72
70 *85
*68
69
08
68 *85
75
*65
70
300 New York Air rake_ _ _ _
68 Apr 27 7512 J'ne 19
59 Poe
7233
7213 7113 7134 7034 7233 1,800 North American Co (new) 64 Jan 10 7634 May18
72
72
*7012 73
7212 72
6013 Nov
31
2934 31
2914 3012 29
2873 2913 30
30
29
2313 Apr 24 3112 Ply 31
3013 4,800 "Meld° Mall
2278 J'iy
44
4214
4212
1
4212
43
43
*41
4018 4134 3912 41
45
acid° Tdep ife Teleg_ 3912 Aug 11 5458 Jan 31
2,400
30 Ply
10414 10413 10434 10434 10412 10113 10434 10512 10458 10458 105 105
1.365 People's G L & C (Chlo) _ 103 Apr 5 109 Jan 19 103 Ply
Philadelphia Co(Pittrib'h) 100's Jan 3 11812 J'ne 3
84 Ply
"1578 20
1953 -1-678 1878 191-4 1834 Ickt 2,500 Pittsburgh Coal Co
-1014 1934 - 1512
1714 Jan 3 2314 J'ne
13 Jig
8512 87
8813 8438 8512 8414 8534 5
88
8514 86
86
85
etteel Car
6734 Jan 4 9078 J'iy 26
sedprs
6014 J'ly
eso
1:37 0
60
0 PrD
3012 Jan 3 3758 J'ne21
31
3412 3433 3334 3414 34
3313 3334 3212 3234 *3214 3313
25 J'IY
100 100 *100 101
40 orel.
9214 Jan 3 10234 Poe 16
*100 103 1101 101
9934 9934 *99 100
90 J'ly
300
*115 11714 *115 118 *110 116 *115 120
116 115 *111 116
100 Pub Service Corp of N J. 115 Aug 10 120 Fob 7
15914 15914 159 15914 *165 160 *159 161
150 Jan 3 183 Jan 30 155 J'ne
159 15912 *159 160
1,133 Pullman Company
3.134 3473 34
3412 35
33
31 Jan 11 39 J'ne 14
34
3158 32
34
3173 32
23 Ply
allway Steel Spring_ .._
2,200
92 Jan 3 103 Pile 15 30014 Sep
*100 103 *100 103 *101 103 *101 103
10173 10173 *100 103
150 1
Do pref
1614 1578 16
1618 1053 16
1534 18
15
1568 1512 1534 5,150 dRay ConsCopper Par $10 $15 Aug 10 $1812 May18
2712 2812 28
2814 28
27 Aug 10 3514 Feb 6
2813 28
2818 27
27 Pm/
2734 27
2773 5,735 Republic, Iron & Steel
0212 2,000
9214 9212 9313 9312 9333 9333 921s 9233 92
92 • Aug 10 91133 Feb 1
8234 J'ly
9338 92
Do pref
*13814 142 *13812 142 *13814 141 *13814 14034 13712 13713 *138 142
13612 May26 102 Feb 6 150 J'ne
Roebuck & CO
100
*4612 49
49
*47
*48
49
*47
300 Sears.
4814 Deo
49
loss-Sheffleld Steel & It 4612 Aug 11 5614 Feb 6
4712 4713 4612 4612
34
3312 35
3514 34
3578 3413 35
3234 3313 33
3313 6,780 dTenneseee Copp_Par 525 532 Jan 11 544 J'ne 13 $1034 J'ly
100 10214 100 10113 10112 10314 10213 107
102 104
100 104
100 Aug 5 13613 Feb 1 134 Oct
7,080 Texas Co (The)
*90
97
97
*93
*93
97
98
9013 9312 86
90
97
2,050 I inderwood Typewriter
03 Mchli) 111 J'ne26
111212 11212 *11212 11312 *11212 11378 *11253 11312 *112 11312 112 11212
Do prof
103 Mob il 11378 Ply 28
250 x
*612 8
*634 71s *634 712 *634 773
634 634
6 Aug 11
612
6 J'ly
0
9 Fob II
500 Union Bag & Paper
*51
57
60
*51
*51
59
54
5213 Dec
54
54
60
*51
54
Do pref
54 Aug 8 5912 Jan 30
235
*10314 10414 *10314 10414 10314 10314 10313 10313 *10213 10314 *10213 10314
90 Aug
10012 Jan 27 108 J'ne20
300 United Dr Goods
*106
10812
+10412 10812 *10412 10813 *1064 10812 +106 10812
10878 107
---- 10218 Jan 5 10713 Ply 7
Do peel---400
9914 Aug
1514 *1413 1538 1412 1413 *14
1512
1418 ply
*1514 1712 *1514 1714 15
310 U S Cast I Pipe&Foundr 1412 Aug 10 19 Feb 23
63
*53
49 .pne
55
5213 53
Do pre:
67
55273 5273
50 Jan 18 381 Feb 23
55312 5312 5313 5318 53
93
93
95
95
90
00
*93
92
90
94
*89
90
727 United Stated Express
90 Aug 9 4105 Jan 27 49312 Dec
7118 7012 7113 71
71
7112 1,300 U S Realty le Improvem't 8618 Jan 25 7934 May29
73
*71
71
6414 J
71
72
*70
3733 3858 3712 8,200 United States Rubber__ 36 Jan 6 4778 Mch I
27 Jig
3714 3734 3712 3778 3738 3758 3738 3732 30
112 11234 112 11213 +112 113
113 113
11112 11178 111 111
10913Jan 18 11512 Ply 7
Do 1st pref
1,100
99 Ply
76
*73
74
74
7434 7434 *7413 77
400
7353 7338
77
Do 2d prof
*73
7213 Jan 31 79 Mch 1
5912 Ply
7418
Feb
7334 75
7212
6
8218
7334
7414 7512 7313 7533 73
United
10'20225
7513 7233
7133 Jan 3
States Steel
6113 J'15,
11614 11718 11813 11713 11013 117
• 11634 117
11634 117
11512 11634 9,020
Do pref
11513 Aug 11 12078 Feb 4 11013 J'ly
4612 4513 4814 4512 4614 45
44
24,000 dUtah Copper_ _Par $10 54253 Apr 19 $5211 J'ne l4 (33933 Pile
4812 4434 4578 4514 48
5518
5538 5553 55.38 5614 5538 5812 6534 5534 59
5418
5512
20
833
12,100 Virginia-Carolina Chem..- 12
32 6i
; 7 17
Feebb 2
18
6
5,134 J:in219
47 Feb
12114 1211 12013 12012 12013 12012 1,200
120 12034 *120 122 *121 124
Do peer
117 Ply
1162 182 *160 164 *160 184 *160 164 1160 101 *155 160
14413 De°
4,33
,
7
g
7513
7812
77
7512 76
7513
14
7514 7558 75
6 :
18
Aapnr :
277
4
3912 J
3
61
1111aa
n
oIoAsYeleg _ _ 1153j
7534 7614 78
aany
5
1 21
5
56 Ply
6412 87
6612 8733 6513 6678 6514 56
8,700 WestInghiseEl &Mfg amen 1616412
6473 68
ng
6534 66
4913 J'ly
*115 118 *115 11814 *110 11813 *11014 11814 *11014 11818 *11014 117
Jan
Do 1st prcf
110 liar
.
wuesil:erFnarlf
BANKS AND TRUST COMPANIES-BANKERS' (.4
BanIcs
1114
Brooks33
Broadway 1 385
Coney Is13111
First
290
HIllsIde$ _
Homestead,.
lianufac'rti 416'Mechanics'3 225
Montauk
Nassau
5215
Ass
400
155
300
125
115
430
240
150
225
Bid
Ask
285
150
153
135
300
170
165
142
N Y Cdti
350
Astor
Bankers' Pr 695
380
705
Banks
Brooklyn
Nat City...
North Side $
People's
Prosp'ctPkij
!rust Co's
rust Co's BM
Ask
trust Co's
N Y °UV
Guar'ty Tr..
B'waV Pr... 14212 148 Guardlan Tr
CentralTr... 1000 1040
Hudson ___
Oolu m bia - 300 310
Enickerb'kr
Commercial 105Law T l&Tr
Empire
300 31-6- Uncoln Tr
l'quit'ble Tr 500
Manhattan
Farm Lo341
- 152-5
Mercantile _
Fidelity -- 21-713 22212 lletronolTn
Fulton -_ 300 310
Mutual __
Mut Allnce
Highest.
1270 Jan
15 Jan
5434 •J an
9034 Jan
4912 Oct
103 Jan
4714 Jan
9512 J'ne
9112 Nov
13112 Nov
1378 Jan
8214 Nov
7278 Jan
120 Men
6934 Mch
107 Oct
*320 Jan
818 Jan
4778 ..an
2914 11011
1734 Jan
4678 Jan
6212 Jan
115 Jan
8 Feb
98 Niels
9078 Jan
104 Jan
11234 Jan
285 Apr
102 Dec
66 Jan
12712 Feb
124 Feb
14338 Feb
9034 Mch
3912 Alch
104 Men
$54 Jen
3478 Oct
65 Jan
16412 J an
1813 Jan
33 Jan
4834 Jan
10914 Mob
50 Jan
16038 Jan
2314 Jan
8638 Jan
3034 Jan
60 Mon
88 Jan
16078 Jan
$914 San
125 Jan
129 Jan
712 Jan
2438 Jan
16 Jan
6113 Jan
5458 Jan
9034 Jan
11613 Jan
98 Oct
7834 008
11912 Doe
125 Jan
2813 Jan
9312 Jan
89 Jan
11013 Jan
52233 Oet
9513 Jan
84 Jan
4314 Jan
4814 Jan
1163s Jan
10412 Jan
2734 Jan
85 Jan
5173 Jan
107l Jan
200 Jan
5173 Jan
107 Jan
4573 Jan
10414 J„
190 Nov
861
:Jan
34(368Jan
144 031
13114 Jan
73 Jan
122 Jan.
11373 Jan
32 Jan
84 Jan
145 Jan
8414 Jan
5213 Jan
11(112 Jan
81 Jan
91 Jan
12533 Jan
36014 Jan
6618 Oct
12914 Jan
105 Jan
7812 :deb
8215 Jan
130 Feb
FATIONS.
I rust Co's Bid
Ask
Ind
Ask
s
NaYL
vo yife 31Tr
800 818
N Y 'frust_ 5-9-"
0.1
135
ii6.
140
705
Standard Tr 390
306
295
4
IltAeClu& Tr 480
250
245
496
Co
of
Tr
Am
132
125
...
376
Union Tr_ 1236 - 1250
410
390
US litg& Tr 495 510
710
690
Unit
480
States_ 1125 1130
470
13212Washington 360
376
Westchester ta(1
116- Windsor.
130
713 TO...
2173
trust Co's
Bid
As
Us 00kIVII
Brooklyn Pr 945
ritattzeb nufh.......... 200
a
120
Franklin_ 270
Hamilton --266
Home
1011
KIWI CO
508
L Is! L ds Tr 330
Nassau __155
People's
jns Co.
___ 300
Queens
100
110
216
290
276
115
-33
340
'
166
310
115
• *Bid and asked prices: no sahsa on this day. ;Less than 100 shares, :Ex-rights. S Now stook. e Ex-dIv. and rights. d Now
• 1Sale at Stook Exchange or at auction this week. s Ex-stock dividend. 1Banks marked with a paragraph (1) are State banks.quoted dollars pot OW
395
7
New York Stock Exchange-Bond Record, Friday, Weekly and Yearly
,
--"dal Interest"-ealeot for Inco:ne gni clefaultal bonds.
Tea. 1 1909. the lezahange ntothocl of quottno bonds was changed. 444 ortoe's ore now u11
tl
.I
'43
,
1 ;3 11
BOND
Pangs
Week's
Price
BONDS
Week's
gazi
Range
1
Price
:di
Since
N. Y. STOCK EXCH A 81(41t
Banos or ,'----,
FT A'
,
MR
N. Y. STOOK
January
Last sale
WEEK ENDING AUGUST 11
e<saotre
‘5.4 Jan
S :Cf:,' 1
ull
'
at
"
g
u
Au
b
:14
)
.
WHIM ENDINO AUGUST 11
o
.
.
4
.
.11,
4:
0 tit:il h
o.
54/
1
.
111o
..1:77..:
Ask 1:
Me
No Low High Cent of (Is 1131-f Con)
Ask Lou
Bus
sa NIA income g os....p1945 Oct
100 .T'ne'l 1 ....i 83 102
1
4Apr 11 .... 1014 1014
U 8 24 consul registered.ct1:130 Q-J 100 1110014 lui /
Sa prat income g Is stamped.
msy'11
101
101
,
101
1
1004100%
oonpon...41930
11_ 13 2s consol
Q-J
Chatt lily pur mon g 48.1951 I.1") (-47
901
. 981*.i'ly'l 1 ....,, S•3
7 8 8-81
/
4
1014,102 14 192 Apr'11
103 19314
k191e
U S 38 registered
118.4.1 di iN or Dtv let g 36.1146 j.j 10414 ...... 1061
/
4 1064 2 1031
/
4
/
4 1061
191 7,May'11 .... 101 7,10234
101 44
/0918
U 8 3s coupon
6110
38-.1147 .1.3 105%
AU
Inv
J'Iy'10
101
14
gliDe
bonds
,U 8 38 eon small
F
Alottle
1094
1148
Div
,
:75
...;108%
lstgOa
I
M
'77.:
1
1091
/
4
1
9
5
%
10
J-3
Ire.% 114 11114 14 J'no'll
10
114 1.
1925 (4.
.0S 48 registered
(Jen tits& hot tia col g 56193! 11-5 1112 1033, 102‘.. J'Iy '1 1 .... 101 /
1
4 103
11125 Q.F 11334 11444 11334 Aug'11
11394 110% Cent 01 s
AT 8 48 coupon
iiitA,
Jrig
od
en't gold 68.116/ .4.j 121% 12'2h 121% 111 14
3 121%1231
/
4
S Pan (`.9 I0.:-0( yr 28.1e193; 0• N 100 100 10914 J'ne'l 1 .... 100k. '004
(4..
3
3
122
J'ne'll
1231
/
4
J12)1:
1t0
122
121
....
1161 Q.8 102 Sale 4011
/
4 102 ,I63 101 7.103
V IS Pan Canal Ss g
Aul Dock & luip gu 68 41U6
1:121 J.j 1051
/
4 108 106ue'll'....
1/4 P
1064 1084
• & Hutt It gen gu 33 1920
Foreign 4.0verunteen
Leh di Wilks Ii Coal os 1912 li:S
1001
/
4 1001
/
4 2 1001
/
4 1001
/
4
/
4
vi N 1001
971
97% 17 1171
/
4 99
Ikrgentine-Internal 58ot 191)9 11. I 074 Sale
N Y & Long lir gen g 44 1941
99%1001
/
4 99% Dec'10
, ...
t 98 Sale
1177
. 95% 64 974 99
Chinese (liukuang) lty Os 2..
Cent Paeule bee So Pacific Co
lauYerbor
Imperial JApdLent
Cent Vermontlat gug 45 81120 0.-F
/
4 921
/
4
894 9014 90%J'Iy'11 1....1 871
1925 F A
14 11 Sale
04
945,1 10 935 953, chats&
Sterling loan 4 is
say see Atl Coast Line
1
1
1 93 ah, 95(9
944
I 94,
4 941, 1144
1925 J
20 series 4124
Clies & Ohio gold 68
1.27. 106i,
No'
4
1i.i
0
1
io
v
105
I%
L
,
in)
1931
1
8794
13.
871
6
..%
87%
J J
884
Sterling loan 4,
Lieu funding
19211
1.1 A
unpt 6841
J:U
J 1(34
1103 tit,j, 103
103
6 10214104
tESpub of Cuba 58 eaten den.. if
lot consol g
112 ! 1 11144 11344
111 44112 112
1949 F.A I 97
99 J'ly'11 .... 117 4 1041
/
48
External man 41
Regiatered
11244111 34151aY' 1 1 .... Ill% 11134
,
631919
97%
971
/
4
Ang'11
97
073
trust
J J
an ratuotlirozil,
Lienerai gold 4 1 2 .
1 38 1(
1 030
2
10
)34 m.
1 01
3,1 15
1 _12
. 101
100% sale 114)(
• - 11
A t.11912111'
MI4I
97
97
4 95(9 98
11J 13 01 MeziCus I g 58 01 1899 Q•J I 9678 97
ttegisiered
1164 I-0
941
/
4
8034 90 Aug-'11 .... 90
Gold to 01 1904
14
Convertible
41
/
4
Sale
931
/
4
519
167
i
934
971
/
4
s
-F
A
9314
ths
1199302
a
b
eats
M-8
17 hese are pr Aces o
of 445 10 2.
0143 bandy 1st 48
339
j-D
State and City Securities
518;;
Coal Itly Ey 1st
1 1)44
88
7/
4
1 JM'n
46 "
83
ae
Y1
:1
81'', 6
1
..
.
.....'
1
;
8'.7
88
9
%
196t;
D
88yd.
/
4
1023
1021
4s
103
1021s
M-s
1003
,
City-41
Y
140
N
1940 .1--) 192% 10444 102 4 J'Iy'll .... 102% 103
, Craig Valley 181,g 66
1031
/
4 Aug'11 ••••• D/075 1047
4a recta tat fro Jau 24 116,, M-8
Potts Creel: Br 1st 4s 194*.i 3.4
99 Job '00, . :
bu
86
1959 M.N
991,Sale
48 Og^,, 10014
99(9 100
4% Corporate Stoa
lt2di t
c.
L/
Lovi 18L
g4
.
cou g 48 11i8;) J • J
1'.4% Aug'l 1 I .... 9414 90
96
1958 11-N 100 841e 100
100
8 08%10914
0,0 Corporate stocx
J'ne'111.... 110', 924
924
9214
J
30
(
(l
J
•
'957
10914
M•N 109(9 109(9 1094 10914 10
New 4 4:8
Warm 6pr Val 1st g
119.141
0U M-S 1061
/
4 108411314 P ell'05,.... ......
1,
11
103 J'ly'll •
Now 4i.43
N 10234
101 7.103
Greenbrier kty IstgugAs 'Al/ 111•N
95 Oct '10,
86;
/
4 Chic
/
4 11101
16 1061
444% Corporate Steck 19&7 1111-N 10e-4 sale 111314 lot)
ao Alt itlt ret g 33 1141 A-0
71% 7214-J 13'11 ....1 724 7334
1917 N1-N 102
103 Jny'll • • 102 103
44.1% 058e68191 lio11115
Adetway let non 3/
1
4s.-1150 J • J
6814; 0 86
711
/
4
66 Salt
66
19u7 M-N
12 9i434 1004
997,4 Salt 991
/
4 101)
4% Corporate stook
Registered
75 Oct '09'....'. ....
-J
J
1901 !WS 10234 Sale .02% 1027s 130 1025 1031
N Y State----48
/
4 Clue Burl anti-Denv D4.3 19
1
'5
2
'
2
1
9914
-A
F
Canal Improvement 48 19til) jr.j
106 J'Iy'll
' 104(910614
thniuis Div 31-J811349 .1 • .1
874-4 894 8
97
1'88
%
19
843
41 2 1 9
87
411 8
98
94
7
103/
1
4J'ly'10
J • J ......
Bo U8[111108 4'us U-4t,
II
88 Sep '10
J -J
137
97
97 Airay'l 1 •
Tenn new eettlemeut 33-1913 J • J
96
His Div As
'404
11141) -4
/
4
99
4! 99 1001
99 Sale
68
Virginia tuuti flout 2•38 11191 -J
•-• 86
86:
Iowa
Div
dUlli
58 100
11) A-0 104%
105 4 J'ly '111.... 105(9105(9
51 :isle
50
524 62 40
/
4
Os deterred Brown Bros Ws.
671
/
4
Susleing UAW As.
/
4 J'Iy'l 1 ....1 9914 991
/
4 1)91
111
/
4 991
A-0
eurasaa Externem, 48.1
19
1)2
.1
1 M-N
I' 1638 99 41
itailroa41
991.1013
9
98,.
111
mai
r9 I
Registered
1927 M984 981
/
4
lauanut Cent, bee So lty
boutu western Div 45._ 1321 11- S
99
99 Feb 11 ....I 99
90.
041.4a Alull bee At Coast Line
Joint bonds bee Great North
Albany ,11; bum] bee Del& Bud
Deueuiure
54
1913 M•N 101 1018t.101 1.Ang11 ...1,101 10111
klieg & West bee 1.1uU It & i'
General Is
0614 Zkal4s. 9011 '
/
4 98
0% •21! 961
M- S
gann Arbor let g As
11,1995 Q.J
81
81
SO
81
6 7878 85
Clue& n.LllrelaLnlpgtsj955
11)•18 J -J
88
/
4 Si 44 Aug 11 ...., 81
811
&toll '1: do 6 lfe-tion g 48.11115 1-0
097.,
/
4 60 98
987
. 991
99 Sale
1st
cameo!
g
68
1934 A.-0 12644 127 126% 1 -104
1 126%127
kteguitered
1995 A-0
9714 983,
971
/
4 18 J'ly '11
General 0010301 1st 3,3
1931
11
i
it
,
Aug
11
...,
109o,
111%
11(3(9311
11-N
AdJwitineut g 4s
91 34
011195 Nov
/
4
90% 921
91%
913 92
Begietered
1937 11-N
108% Mai 11 .... 198% 10834
RegisLered
h1995 Nov
92 Jan '10
90
Clue do kw.' C lty let bo 1936 J -J 1017
/
4
1 10014110(9
.Sale 11097
. 1091
Stationed
924
01995 M-N
/
4
911
/
4 331e 911
Ullleagote if.rie bee Itrie
1
Cony 44 issue el 1909...1933 J -D
. Ohio Olt Western lot 48-19459
114% Pue'l 1
105 1 1 43
84 1 gr,,! 84
84
/361-4
841
/
4' 84
M-5
(Jonv g 48
1966 •D 106'4 8112.41 1061
67 1054115% 1.;a14.: all de, DOULGV 1:0/ od
/
4 106
1314 I J
1271
/
4 128 '127¼A033 11 .... 127 128/
1
4
103% 428 101 105%
Coln,46 (issue of /919) 1961/ J -D 101 sale 101
gold Os
1947 J -J 105%
!HI Api'll ,... 111 111
110
/
4
10-year cony g 6/1
1917 J•1 1073
Oa 1161
.10814 108
Refunding
46
Set-ice
C
19
1)6%
9M1 Jan '10 1951
bonen CUred 48 Series J 1912 F -A
.1 1
9%
4
923 ' 95
t)2%'I
Chic Led di Sou 50-yr 44) 19o1
.1'n
9'11
5
9293
61
4
1913 F -A
. 998., CUlOJi1ldinLftorhngte 1914 J• J
094 J'Isy'll
Series 6.
991
1
4 Aug'11 .... 102(91)1218
102/
• .1 10
1 9614 97
/
4
964
East Okla Div 1st g 40_11/28 MI96
9711 961
: Lienerai g As series A..811181 .1
111.‘
14 118.1 981
/
4
9911
9 os 18 98
J •J
1956 J -J
924 9414
9214 93 Ply '11
Short Line' 1st 48 g
994 99.,
Registered
el9a9
994,- Jau '11
108410/1
/
4
/
4 J'ne'i 1
13 9.0 Pres & Ph 181 8 ba 194. 11-6 108 109 1081
General g 3h24 series 1.1 e1989 -J
87
871
/
4 861
/
4 Aufell..... 801
/
4 884
£ttKnoidiN See 1,%N
25-yr deueu 45
1934 -./
921
/
4 132L2 9241
92.-- 5 92
934
561
/
4 61 93% 943
93
96
96
Atlantic Coast 1st g 48.01901 11-8
:
11110
0
0,11:
8
646045
::: 1107
33
,:40
,6
3.
6,;
,
A 7
Clue do 1,su Div g
1
l
i
l
i
.
.
..
...
i
1
.T-2
03
0
6
4
,,, 107
33,
108
_1112
108
108
58
108
gold
1
1043
gu
11-N
Ala .51101st
Clue do Alo Bay Div iis 1920 J -J
108% AV) 11 .... 108% 109
154 95% 14614 liar'1 I
/
4
954 951
• B.xunadi W lot Ku g 4o 113e J -J
Clue
d'o
P
1121
J.J
/
4 10'81
83.1071
/
4
W 1st g cis
/
4 1 1,
10
09
6% 11.37(9 1061
......
Charles & Say 1st g 78-1130 j.J 138 4
D:l-lLdi1.itSvgOs
94
93
o1962 11-N
71 92% 951
93(9 Sale
/
4
L & N coll g
Dubuque Div lets 68 192(e s.
114 114 1s
114 1.1iay'll
124(9126
Say lf & W 1st gold 64..1934 A -0 124 1211 126 J'ne'll
1aleenoUd,aSUgos
d174 Jen'll ... 11714 1174
1024 .1•3
110% 111 14
111 110% May'11
1934 A-0
lot gold 53
LaCrosse & D 1st 68
1911/ J -2
97
971
/
4
97% 97 .1'11'11
97
811 Sp Lica do gug 48 1916 J.J
'elv
y'
l
lu
l .... 106% 1071
1' JD
/
4
WIs&1linnlilvgds
11)2l J -J
'1
1(4)
45
6:
Dana bee South lty
MU& Au lei cons 04
•103% 100'11 ..... 1W% 1034
1113 -D 1034
lineal dl N W bee Sou Paeine
Extended
41
/
4
s
%
J
ID
914
921
/
4
93
.
921
/
4 Sale
1 917
/
414.1925
Dalt & Ohio prior 1g 31
913 4.4-F 109
119
1 4 1104, 10914.I'ly'll .... 109%112
91', May'i 1
1
4 Ohio& °rt./1w Lanni 7e
911
/
4 91 /
91
Registered
0.1925(4- J
98
9934
Extension 4s......1886-1920 -A
4, 99s4 Apr 11
98.1e 119,
984
98's 18 93
991
/
4
981 Sale
/1143 A-0
Gold 4s
May'
1
1
Registered
981
/
4
97
99
13-S6-11)26
96
rty
F•A
'11
97
98.
1
Registered
97%
0194 (44
(Mineral gout 31
/
4s
661
/
4 14 881
1%
/
4 881
/
4
26
7 11-N
/
4
84
8714 861
112 14 Dee'1 d
J u.uc 1st gold 68_1122
1121
/
4
Apr'11)
Regustered
.
p1187
931
;
ti
871
4
84%
884
1
68's
318',
At
Div
1st
g
an
3
4481926
tin
PJ
88
11•N
General 4.1
91.1
;
198/ /1-N '
98 I 46 .-14-1K ••
911
/
4 12 91
921
/
4
,17% 9774 Ws
PLIC&W Vs 8ys ref 441941 M-N
1104 911
/
4 91
btuakeg tuud 6s-1879-19213 A-0 111
112 112
112 Jan'll
834 914
1
48...1825 J
Southw Div 1st g 3/
901
/
4 9034 904/13'11
Registered
.ov't)9
1
4
-:
,
111
/
4
1101
A-0
.
1pr'16
991
Itegnicered
/41923
884 92
1071.2'ne
13iiikiug Lund 58) 1:7
106 111738
71-1
*-1929
919 A-0 107
103 Ilar'10
g 4les..1130
1)8
Oen Ohio B.
Regnitered
/
4
le70-1121 A-0
1074 13/71
107'4 10714 May 11
110 Dee'lO
*108
Ut Lor & W con 1st g511 1183
Debenture 58
106(91013
1941
1061
104%
/
4
104
4
A-0
J'13'
.11
....
/
4
1011
1
102
.
1
1021
/
4
let
gu
g 68-1919
102
Motion lily
1061
/
4
itegietered.
1921 A •0
/
4
109 4 1011
/
4 Apr'11
Ohio River 1.11.1 1st. g 644.1131.3 J -D 10914 111 1091
Sinking tund deb 5d
107 Ang'11
1133 M-N 1094
.. i'667;
106 1091
/
4
11.337 A-0 10614109(9 106 .1,17,11
General gold 68
Registered
11/7% Aug'11
1133 M-N 107%
107(9108'.
113 14 Feh'11
113's 11334
/
4
Pitts Utev &To1181)(4.18 1922 A-0 1131
/
4
4, 1144 1161
Mil L Sal West lot g 64 1921 M-S 1144 Sale 1144 1.44
97% Feb'l 1
97% 97%
127%
Pitts & Weal, let g 4n 1117 J -J
11038 Aug'11
hat & Imp stand g bs 1129 F -A 11114
1011
/
4 111
100 Nov'04
861
/
4
litat 151 Ity 1st gu g 4 lea 1943 J -D
Fcb'02
„
/
4
1421
Ashland
118
Div
63
1925
lot
g
Beech Creek bee N 1 C di It
118 118
Mush Div lot g Us
11324 J -J 11,041197,11S J'Ay'11
Bailey do Car bee 1111nola Cent
109%119
Beck lel & Pat: 6s 1917 .1-J 109'4110 110 J'Iy'll
Brunadi W eat bee Atl Coast .14
Aug'10
109
191?
1011
'Leg
uttered
J
-2
Y di Erie bee brie
931
/
4
961
/
4 13 96
Guileral gold 48
1938 J J
9114
961
/
4 97
112% MtrY11 1
11'268118
Sullalo K & k geu g 54_11137 11-13 11114
/
4 1181
.Feb'10 „
971
Registered
.1.96e J
1957 M-N 106(9 108 107 14434'11
107 4 106%
COPeol 4 404
90
23
831
/
4
69:
89
Refunding
694
eait
0
g
4.8
A
•
97
od '1 1 .. 97
17
All cYG West Ist g 48 gu i118 A-0 9734
......
.
14
2 M-N
C011 LAMS Serum J 4*
193
103 J'ly '118
. .
01 & Mali let gu g 63- 1943 J -J 109
11014 974
/
4 9014 J'ue'll
86% 971
SA-N
114% J'ne'11 .... 1.141
.114%
Iteeli di Pitts let g 66-1921 F•A 114%
Dec'09
94
90%
N
43
16
114-N
19
1
9
5
1
1922 .1-0 116(9 117% 11618 Mar'll „... 11424116%
Consul lot g 68
94(9)
95%
04.s
1 0'10
nt-N
72 liar'11.4
busq lot rot g 4*.d1951 -,1
71
Bull
9414 9434
943 J'ne'I 1
P As
94 14
1113 841-N
N bee (3 lt 1 do 1.
Bur 4: B.
724/
1
4
74 h 992 72', 77
Chia it IA Pam Lilt 444 2(.8)2 MN
721
/
4 Salt
1913 j-J 102 14 102% 1024 10214
1 10214 103%
Ian So let ex t 63
744 754
734 J'Iy'll
Registered
24.102 MN
.1913 M•3 10034 Sale 1003
148)44
9 100% 101%
kJ20 Os
93
94
93 J•ly'l
It 1 Ark& Louis lat 4 4s 1934 M-8
921
/
4 94
1913 M-8
100% Jan'11
101.1% 10914
Registered
/
4
Ang'11,....
aur
1111
/
41121
111
1111
-0
1st.
g
64.11934
/
4
A
Cart.)& Shawn See 111 Cent,
120 1.1483'03
Registered_
1934 A-0 1104
Carolina Cent bee Scab Air L
Feb'll
1061
/
4
/
4
A-0
Ckti1&184W
1st
gu
106
1061
68_1121
1081
/
4
Ceti it la & N d.413U11&N
Di A St L lot gu g 78 1927 3-I)
Oen Branca Ity bee Mo Pao
/
4 102%
Oboe
& Li 4en g 55 .011319
102% Msy'll .... 1021
1021
/
4
.3-4
5
2
108
4114(9
1131
/
4
1T-A
81121
1134
tos..p1945
1184
1st
g
RR
Us
Cent ot
/
4
1081
/
4 1091
/
431711
14-N 108 108% 1081
Consol gold us
/
4 11/9 109% 10u%
1 107(9 110
1945 131-N 1081
Cousol gold Os
IOU 108
keok & De* Al 1st 5s
1123
IOU 102 101 Aug'11
107 107
1945 11-U 106 4 108 107 J'ly'11
Registered
Jl,iC-,tn&NO
1.11
Cent
13t4
108
9614
96
100
964
0614
Oot
60
53....p11145
income
g
Lit pret
eitrui ado reun eo
/
4 JUm
......
106', Mey'll _ 1004 1061
kitamped
/
4
125
1 19,4 1251
96 J'3-'11_._. 96 10641 Nilo St P It dO con (35 1930 J -D 124 125 .126
Sto Kw income g ba....p1945 Oct
' 93 Dee'013.....
Gone
as
reduced
to 31
/
44 11130 .1.1) 884
14
IOU
190
Mar
I
1
....
0100
stamped
2d inet income g
1
44ge,„
111.84.1ELLAN El/ Us4 BON DS---Co' missed 888 Nen 4/
:5-2
4,2% August'1111
;::.ne
A
-176 •
A..
F_A
Street Railway
Street ItaIlvvay
734 79
78 Ang'11
TS
74
/
4105 104 4.44411 .... 101 104% &tat St 1ty gen col tr g 58 1997
Brooklyn Rap Tr g be
1946 A.0 1041
46 Aug'11
46.
1 48
2002
46',
As
es%
Ref
g
,s4 138 82%
831
/
4 Sale
83'.
1st refund cony g 45
2002 J .2
1
4 lel /
1
4 10 111111102%,.
1014 101 /
Sway& 7th Av lategba 1143
Bk City 1st con 6e.1916 1941 J .2 1004 101 4 10134 J'ly '1 1 .... 1011/41413
IOU 1111
.981
/
4 .... IOU Jae '11
Cold,914hAv lot 330 33 5s.119:198 Dee'lo •
13k4,1C0
e,ina go g 68 1941 M-N
/
4
/
4 14)4)1
991
/
4100.
1001
/
4 100% l001
Lex Av & P lf lat go go's 1913
100
......
1941 J • J
Ilk Q Co & Slot 68
701
/
4
691
/
4 2'ne'11 ... 313
97
99
Plurd Ave RH eon gu 44 2000
/
4 108 --I. 10k11:i103i4
Bkly u tin El let g 4-58 1130 F A 1024 103 1021
3 70%
53
stmpd...
3'2
661
/
4
cartes
1-,
Sale
6314
64
Co
Cent
Tr
100%
1143
10'2
May
11
.102
Stamped guar 4.66
1960 F•A
109 111
199 4 Ill 110 J'ne'l 1
Third Ave Iv let g 54 1937
84% 80 4
84% Aug'11
13454 86
Kings Co El lot g 4s
1949 ke• A
871
.
84
874 Aug'11
1 821
/
4 834 N On Ry & Lt gen 4'us 1135
84%
84%
84%
Stamped guar 4,
1941 1.1'• A
98 Nev'Oe
98
81
St Jos Ry Ltli & P let g 65'37
78
7934 J'ly '11
791s 80
Nassau Eleo
g 48
1161 J • J
/
4
106 1061
1064 Apr'll
1064
-I Paul Gay Cab con g Ga.1937
101% 1041
Conn lty & 1,1st& ref g 41
/
48'61 J -J 10114 102% 101% Apr'l 1
117 4 99
97% 98'4 98 l'ly '11
101 1024 'fri-City Ry & Lt 1st ii 1 64.1923
4 J'1,y '11
8tamped gusr 414,s
102.
1951 J -J 10134
Apr'Uil
.
....
.......
98
1
t.
il
z
;
4.
.1
:
)
1
4
.
,4,
,
,,
n
4
1derground
1
.
of
Loube.,
.112o
824 82,4
/
45 11132 J -J
Del United list con g 41
97
90', 97
17
1:133
97 salt
/
4
981
, 951
/
4 Sale
Havana Elea consol g 6 1952 FA
981
38(9 651
/
4
02 Axe I I
66
Income 6s
1148
,314 7714 83
/
4 Isl.
777
. 781
1950 A-0 771
Inter-Met coil 4",s
'08
Oct
---.
54
El
(Chic)
001011
lst
g
be-1146
104h
1962 11-N 103; 103% 103; 103% 81 103'.
Inter Rap T Os Ser A
United Rya St L 1s1 g 44.11/34
774 MI Aeg'l
80
87 1851e.r10
intermit'Prao coll tr 44 1049 J -J
67 -1
.
12;
1
67 Aug 11
17
69
United RBA San Writ 4A.1027
Mande Else let & coIl 66 1968 511.8
90 -... 98 Why' ..
kUitts Aug dM)se Ogg_ so Due Now a Optio& 411101.
, *No pries Friday; latest this week.
Due Apr eDne May g atm .rno 8,Das
11Flat. &DU* Jam
396
New York Bond Record-Continued-Page 2
BON ns
Price
1:179.
NT. Y.,STOCK MICrrif A 11075
derm
WEKI{ Extunn AUOLTST 11 ;
August I1
Wee/es
Range or
Last Sate
Range
;4‘.% JanSince
I
2uar)/
BON D$
N. Y. STOOK It X(114 ANGE
Emoro; A1:01.11T 11
1.t
Price
Friday
August 11
Lxxxxiii.
Week's
Battye or 1
Last Sale
Banff*
Since
January 1
Ci tie St .E. M & 0-(Con)
Sc.
43k bote
Iftgfr iVail bow 51(14 Erie & Pitts See Penn Co
:Bid
Ask Loin
iltglt Ito Low lite/1
Ch St P & Minn let g 68 1918 114-14 12334
. 124% Mel'11 • 1124 12514 Eysine & T H 1st cons Us 1921 J-J 111 78
312 1851.ay'1l.... 11214113
Nor Wk8o0DRill 1s1438...1010 J4 12334 125 129% Ntay'119
. I
latgetterni gold 5s
1942 A-0 102
1
10218Aug'11
.... 101 10214
P & S City 1st g 6s...1019 A-0 112 112% 1124 3'ly'11 • •LI 11 7112
Mt Vernon 1st gold 614 1923 A-0 10714
114 Api '05
Clue& West Ind gen g 68(119'32 Q.I 108
109;rue'll • '109 10914
Sad Co Branch 181 g 5 1930 A-0 90
95 J'ne'08 ...1
Consol 50.year 45
41
1952 3' J
92
92%
021
/
4
9918 934 ii'arge sit So See eh
451.it P
Chic & W Nlieh See Pere Marg.
1 lint& Fero 51 See Pere Alar
Cime0A Gulf See CRI&P I
Fla C.% Penin Nee sea Air Lino
Ciu it &
ltd gold 412.8...1937 J•J
101% J'1Y'
101 101.
1 Florida E Coast let 446 1959 -D 96
11
9738 97% J'ly'1 I
98%
95
Cin D & 1st gu g 58_11141 5/1-N 104 105 108 Ply'11
1024 10434 Fent st U D Co 1st g 4148 1941 11-4
110
95
2 A sig')0.
C Hind 80 Ft WI it go 4a g."23.11-N
88 Mar'l 1
N't W& Ego Gr lat g 4s. 1928 3.4
88
88
8354 83 rly'11 .... 8214 844
Cin 1 & W 1st gm g 4..1963 J-J
88; 884
iPt
SS
88%
lad Dec & W 1st g 5s...1935 J -J 103
105 Marl 1
11
1 .1
:1i
5 011882 1st
103 105
A-0 13818
... 0712 8814
1st guar gold 55
1985 J-J
Georgia SO Ala See Sea 4lilne
107% Dee'02
0 1 )61..L di C 664(1(3 de t L
Ga Car & Nor See Sea A Line
Cin S (1 fiee(JCOSLL.
Georgia Pacific See Se By
Ulearlield de Malt See B LI &
Gila V 0& Nor See So Pac.Ce
OlovthnCtLgènc4s1993 J4) 92 Sal. 92
tionv 455 Oirvregat .*e24 Y Cent
15 92
13
OS
Cairo Inv 1st gold 48-.1039 J.J
Grand Rap & Ind Nee Penn RR
92 Teb11.1
92
92
Cin W & 31 Div 1st g4s./9111 S.J
9214Lee•10
Gray's Pt Term See St 4,18 W
•
L Div 1st co( tr g4s..1999 11-N
9114 92
GE Nor-01300 Q cell tr 48 11.21 J..) .0034 Sale .9014
9134 J'ly'11
0l 4 94
97 236 054 98
Registered
•
91 Oct '07
Registered ie
'1.1190 31-N
90
07
1108 Jly '1 1 .... 1153. 8814
11121 Q..1
8pr & Col Div ling 4...1040 11•91
96 .Der.'09
Si Pant...11 & Man 48. .11)33 T.j .118
99% 618011 .... 98; 91114
'W WVaI Div 1st g4s...1940
9122 Deo'10
let °easel gold 6.
99% 92
1933 j...) 12638
12614 1:1618
1 125 1274
U 1 St .L & C cense! 6...1920191•N 108
10634 Vasil
Registered
100% 106%
11133 .7.J
182 Aur'0•.•
1st-gold 4s
../cI1130•Q-9
98 J'ne111
Reduced to gold 4 12s 1938 j.,.1
984
96
97
'1
10512.7'1y
1
....
105%
105 1004
Liegistored
96 Aug'l
.:1936•Q-1? 981
Registered.
/
4
.1833 ;74
10834 .Pne't8;
CmS&V1 con Int g
10634 Jau 11
41,1 107
Mont eat letgold 4s..1937 4)..1) 91214
108 19)834
118% J'ly'II ..... 0514 98%
C di 1 cense'Is
107% 107% 9 113718 107%
1914 J...3) 19712
Registoreci
193'7 4.1-4 98
98 J'i.e. 11 ,...' 98
08
Comm'oink fund 7s
1914 J-D
Ii: ALinuNorDirlet g 481948 as0 0614 ('94 9834 31111'1 '
3enoraieousolgold438.111114 .1.3 123
1.25 Feb'11
41.111.n Millen liitg;t3. .11)22 j.2 .11518
112514 1234
114% J"ly 11 . ...114% 110%
Registered
11334 J -J
Mont•C 1st gu g lis .1987 ,y -4 128%
/28% j',ue' i 1 ..... 127 112814
Ind Bt.& W 1st pret 48 1940 A-0
94 J'ly'08
Registered
1937 j..J
1804 )41,4)'06
"0.1nd & W Ist•pt 511 (1938 Q-J
let guar gold Os
1937 .7.j 112.1
.114 112,2 Apr'l 1 .... 112% 11214
Pee& East Istoon 4s 11)40 co 913
91%
9134 J'ly '11
.
Will & S If Istgo1.15. 1988 .4.1) 11318
99
93
11934.Feb'll .... 1104 112 3i
Income 4e
11/90 Apt. 45
/7
47
484 14 47
01% Greenbrier thy See Chen & 0
(Bev di Aiarletta nee;Penu RBI
Galt di S1 1st ret di It g 5s 011.52 j.y
91
125
92 J'ly'11'....1 881. 92
Olev di Pitts See Peon Co1947! j
ousatonto See 14 IN }
id. 11
I
63 Sale 83
Uoi .‘1101:tott 1st g
.03
oek Val let twang 412.1.1999 .7.j 10134 103 1024 10214 2 101% 108%
1 62
MI
Gloiorae.)& Sou Let.g 48 1929•F.A. 96
9441 13 9478 97%
Itegisten'ed
964 96
1110128ep'08,. 1
1091),j- J
1935 itivN 96; 98 11- 07%
itetruindi ext 418s
98
Col di It V let ext g 4s..1948 A-0 9518
23 97% 9s"4
95 'May'ill....1 94
95
Ft W & lien ClstgSs 1921 J.0 11134 1.1214 112 Aug'11
()el & Tot let ex 4.
96 Feb"1•11....1 913 .96
1113
1855.F A
.113
9458
Colon 4i ureenv See so ity
tioust E & %V Tex ..vee so.pao
Val
Dock
44
Vai
See
ocK
Co: et;
Boost& 4ext1eu 4.2e. Se PaoCo
I
Col 414 lot see Hock Vol
Roue Belt & Term 1st 5..1937 3.4 100 101 101 J'ly'1 1 .... 1004101%
lJol Conn & Term See N &
1 wows cermet ash 4 4...1951 J..4 101
101
101
1 11)014 103
invs
let
45.1913
g
Conn de Pits
A-0
-1. tcegistered
1951 4.3 100
10714 Alec?
19521...)
Cuba BR .1st 50-yr 5 g
let gold 318.4
IOU MaY'10
19,5,
1951 4.3
....
90
91
•
.864 110,4
eeCM&StP
I kak et So
Registered
Si) Apr'11:....1 80
1951 4.3 90
89
1"alias & Waco See M
Extended 1st g 3%.
ii31251.0'09;
11151
8814
0
A•
Del La<sk & Westernlet gold as eterlitig
1951 5/1.4 ....... ...... .tiu j'ly
............
Morris& Essex. 1.t 7e 1914141,N 10758
107s..Ply'I I
coil Trust gold 4e
094 Aug'11
107%108%
11152 A.0 -90'4
98%4
letcause' gnarls
1015 .1.1) 11038 11034 11058rne'11
;Registered
8814 Aug 11 ,
1105811104
100
19514,.A.0
•91312 11814
.itegister.xl
1915 jr
let ref 48
111%1930'10
1955 X.14 .00-'. 9814 9642
808 37 .9614 .98
lat.ret gu g 3..tt
201111 J.0 00
Purchased lines 31.2s
ot Jan'll
tei Feb'
1052'.J.,i
91
80
91
•86
87
N Y Leek & W 1st tie 1921 U.J 11434 115; 115 14j
J... ZI li SI tea geld a. ....D158 11.N .9814 ......
'ne'11
11514110',
919
;10
4
4 •4
5
0,
11
Coustruction Sa
1023 If-A 10634 107% 10714 Merl
Registered
1
3 J4 '11
11)53 3,I.N
107%107%
1)714 984 .I) .
Merin di improve 48.. 1093 M-N
.
99t.„1'ne'11
Cairo,dridge goat 4
.99
1930
97%
99
99%
j•D
b
964
1,714
100
Warren let ref gtig812;.2000 F-A
laiutsvDiv&'Llecm.g3'2 1953 J -.1
87
0.011101
Aug'It
10214
914
8514
8514
b7
Del& Dud 1st Pa Div 7..1917 m-s 11514
6118,110 ..1.11v;reg be
'93 •
123
1.1121.11e.A 105%
1155e, 116
115% 115%3'08'11
Registered.
1917 Zs
149 A nein
(nnaha Div 1et4( lie
7614 Joe it.,
11)511F-A
7614
75 12 '16's
10.yr cony deb 48
st Lotus Div&termg 35.11151 J -.J 875 15
7512 Jan '11
1916 J-D 9854 99
7514
9813100
7.5%
let lien equip g 4'5
1922 J..) lot%
Regnmere41
10114 101% 1 101 101
19511
194513-J
let diref 48
1313
(iota 31.2a
l943 MN '881
8715 May'll
913%
98 100%
.
86
/
49c4143 98
J-J
8714
/kw d1+ am cony 3Iss
Bogle...sired
1916.A-0
92
924 2
92
92
1014 ow. I1M
94
1951 4 -.I
14
Rens& :Saratoga Ast7e.1tJ21M.N 122%
124 may./1
Suring
Div
let
g 312s. 1951 4-3 86
100 Nov'00
1133%1244
Del Riv nil Bridge See Pa RIt
Western Lamaist 11
90
96 I3 11514 ,96
9614 08
961 F-A
Deny & It Ur 1st coug-48.1930 j-J
Bellew & Car let tie 44-1
.91
6 91
go
91% 91
1.17431143'10
91
1923i.J-D 11212
Consul gold 4'se
()orb 3..; Shaw let g4e. 1932,114-8 .11434
1936 J...1
10034 101 Dec510
95 14 Oct'10
•Improvement gold 5.....11.111
Chao St L db N 04 5e 1951 .14)
.D 97.2 1001
, 98). Amen
115 117 Mar 1 1 .... 11514117
4 101
•let & refunding 55
91114 1
Itegistered
14)55 F..45 89% Sale 1394
8014 9-3%
114 Veu'1 1
113 116
11151 4-fl 114
Rio Or J une ldt gu gte 1939.J-D
(401312e
104a, Mar 11
HO Out 109
104% 104%
1951 J-D 854 •87
.d
11to1at gol 46...1940
3let1ph. Inv 1st g 4e. 1951 .1,13 93% 96
97% Mar'10
72% 6112.Aor'11
614 61%
Guaranteed
85 Mar'08.
fit .14 Sou 1st gu g 4s. 11X31. M-S 98
1040 J-J
09 .111y'08 "
the Cir.West 1st g 4e....11139 .7-J 118% 9914 8878 Aug'il
3878 993
, fad 131.& West dee(I()(.2dt St L
Mge and col trust .18A.1949 A-0
84
834 85% Ind ID& la 1st g 48
1950,
j
-J
95
94
.
96%
05%
11613JilY
97 .1 au 'Md.
Utah CentIstgag 4s al917 A-0
Int& Great Ntorlet g 6s 11111.3151.01 108%
1984
4 J'Iy'11
1.11 ...,.
100
Dee Aim di Ft
Se 11 t1.
Iowa Central Ist,gold 50....1038 J-D 10114 102% 1021. Aug'11 .... 10713
101 103
Des•Aird lin By 1st g bs..1917 M.N 100
Gold 48
lt!
4 se :O
19
10
6814 1 63
6714 69
1051 NI-S
6814
60
Det& Meek let hen gils.1095 J-D
;James P & Clear 1st 48.-1039 J-D
94% 14471J'ne'll ..,.. 9452 954
95 J'ne'l 1..
(IoM 4s.
"J4.1) 93
8402 25
alAdiOlt See 1, di Ai 6
Dot So-l)0 Dlv lst.g 48 1041 M-S 05
4/4-an & Mich See Tol & 00
70
70
0
00
6
84.J
aily
Dui.14 Iron 14ange.let5s 11)37 A..0 .107 169 " 17
a:r04,
11!
107% 10914 KOFtSdikt SeeStLet:SY
1937
Registered.-10814
J5O&Mtt&B See St Las S F
241 6s11316 J -J
Kan C
104 Peb'll
.
Matilde See
104 1114
K 'X
Dial Short lAne See Nor Pac
Kan Gay Sou let 8°1113a-1850 A-0 744 '747e 7414
WA 10 734 74%
Dui So Shore & ALL c 68,.1.1137 J,1 106 109 108 Jan'11
Registered
03 Oct 'ou
108 108
1050 A-0
14.ast ot .atinn See StP M.& ,N1
Ref & impt 5s
t19% Salo 119% 1004 54 9:14.4 1 U2
Apr 1050A-0
[Jest Ten Va Ga Secltolty
Kansas City Tenni. let 441930 j.3 90
9834 3'ly'11
9104 994
Elgin Jot & Bast Istg5s.11441 M-N 112
112 J'ly'll .... 112 112
Cent Bee L& N
bam Con & No Bee;Lell&124
Keok & Des Mo 'See R
Erie 1st coined gold 1s.....1920 1143
Knoxville
11914 11814 Aug'11
&
Ohio
See So By
1184120%
NY & Erie Istext g 48 1947 til-N IOU
/01%J'ne111
100%10158 I alto Brie& W 1st g 5e..1931
1081
/
418914 lop%
1081
/
4 1111
/
4
.2.1 ext gold Cs
M-S 10512
105% Mar 11
241 gold 55
1941 J-J 104%105% 101 1..Ply'11 ...., 104% 1044
104'i 108
3(1 ext.gold 41.2s
1023 M•S 10214
104 J'ly''l,,,, 1014 104
North Gate let gu g 05-1946'4-0 104314
11034 May'll ....11.98.
1
1103
4
1920 A-0 16514 107% 186 J
• ittiex gold 68
105 10E34 L /She dlt. 51108 S Se, N Y Coat
5th eat gold 4s
99% J"ne'll
11198 J-D 95
99% 99% Leh Val N Y 1st gu g 410.10401J- J
1054113518Aug'11
10541084
NYLE&W 1st g rd 78 1920 M-S
'Io•
118 ug
Registered
104.0 J -J 1044105 10414 Jalt '11 .......104', 1044
Erie let con g 4s prior-1996 J -J .88 Sale 88
88% 16 8478 90
LokIgh Vol(Pa)cone 84 8003 Ni-N
11812 1.16.34 Ms) 11
9634 97
9,
Ilegtetered
1996 J.J
Lob V Ter By let gu g5s 111441 4-0 11241.171% 1,13b.Ply'11113 11414
86 J'ne'll
86
88
3
1st consol gee lieu g 441096 ./•J
78
,, 14 7314 193
ttegistered
7834 Bale 7814
1041 4.0 111,8113 118
113
Regis/ere()
1086 J-J
1.411 V Coal Oo lea gu g 55 11/133 J -J 10714
'77.
0 77 .
77
113"11
I
77
108 Nov't.9
Penn coil tr g 45
9013 4 86
1951 F-A 89
Left di N I let guar wets 11,415 14.4
904 8014
944
91
11434, 111 934 11434
9434
50-year cony I. A
liegultered
A-0 85 Sale 85
92
884 27 73
1046 M'S
do
Series 13.1953 A-0 15 Sale 74%
El (2 db
78
15 69
lot pi tio
101%
8014
1914A.0 103
Bud 1'i & Erie lat 78 11/16 J
Gehl guar 5)3
11034 111%
1014 A.0 1004
1081411 1", 111 J'ne'l 1
10114 1,1,1
Ohio 44 Eno let v1)1(158 1982 55-14 112 11234 1105
Leh & Bud 11 dee °out ot N J
110%113
. 112 .
(Bev & Mahon Vat g 58 1838 J-.1 110%
111 11114 Leh & Wilkeesb ,Veo(Joutoi.NJ
111 Apr'll
'Wag/lock 0014801g 6 11)35 A-0 124 125 124% Marl112434 125
Leroy & Caney Val See Mo .1
)
Coal& RR,1st our gu tie :11129
Long Dock See Erie
114 Apr'10
104
Dock & Imp 1st cur 88-1913 J -J 1011
lootreJsueir. 100%400% Long lel'.1-151 con g 55.41931 Q.J 109
/
4
10914 1Y'11
109%112%
N & Green L gu g os_111413
994 No.110.
N 101
let conceit gold 48
'/41981 Q-J
lii l3us& W lot rel 5s 11187 J-J 103 10414103 J'iy'll
(ienerat goLd A.
101.34 104.4
3
,J'aes'1 I
M23
-1938.
924 1364
119
J-J)
241 gale 4'a5
..1937 F-A 19
Ferry gold 418s
10014.1)co'01,1 ---- ......
100
MO
6
192:YU'3
..97 100
0814100
;Geueralguiti 6s..
.1940 F.A
Gobi in.
88
02
84,
4 83
874
19321J•D ,04
81)14 Oct '08
97
Terniiiial lest gold 5s...194 fil-N 10914111 110 liarll .... 110 110
(NOW 1301(1 4.
113
93 Ilsy'll
1040M-8
98
95%
Mid of NJ 1st eat 5s -194 A.0 110 1104.1104.9.sy'll
110141104
Debenture gold 55
'VS
1044
Deo
.19641J -D
'Wilk & Ea let gug 5s...:1042
991410014109
100 ; E 99121014
Gear ref gokt 4s
9014 Arig'11.......1 9644 97
1949,
1 M-8 Of5$
& Did 1steOn gu 8438..1020 J-J
110 11014
.110 J'ne'll
N X 1341.3
ledicongf) 198t8.4.0 10414 . 1104IN ov'061.
'let
.1113
°6!)
H
.1
MISCELLANEOUS OO154DS.-.4;ont1mod on pliwa
-this and Electric Light
I
Gas and Electric, tight
II
Atlanta (.4 L Co 1st g 5e...i1947
103
NYOELH&Pg Zrus...1948
istayn.l; Gee lateen g 5E4.1945
18714-sak • 1071
Pun:those;money g 45...1049
/
4 1571+ 1 10534 108s4
Initiate Gas1st g5.13
.1967
82
Ltd 151 EU 1.1 cane g 55..1096
8414 60).1.1'11'11 .... 5014 .8264
Columbus Gas let g 55.-•4952
Y&Q El LitP lateen 8551930
DeWitt/City 4.4asges.,....1923
10034
100 101
101
N.Y Si Mon Gas let g 5..1091
DeI,UasUo con let g os..191.1
Pacific (4 & _Elea Oo Cal(F & 15
9558 Sep 'OS
iletoou .g 53_1031
.106; 1064.3'1.Y '1 /
1054 10634
Corp unifyIng & ref 55 190'i
Gantt Elee'Derg Coc
101
61% Oes '01
Pee Gas (1 let eon g 05.1043
(arBspU 1.04) Ist
99 101 100 Oct '00
Refriniting gold 5.3
..11)4'7
Hudson
g 3...1949
10314
1084.1.1y'1
108 104%
Cla el+-L& Cke 1st gng 5e 1931
Kan City(.110)One 1st g 56 1929
11714 0934 0778J'ael 1
Con G Coot Cl 1etni1X 58
.9178 10',
:
31
Kluge Co
& g
101% 108
;10544 106
Ind Nat Gas &01130-71-55'81
,Purcbatee moneytis
13131
110101L7 11114 J'Iy'll
1143
41116,4 'Mn l'nel Gas DS gug 53.1011
Mo Ki Han 1st con g 4.3.1913V
8514 9.1
•89 Mari)
47
Philadelphia Co cony is .J91.9
90
Lao Garsitolitit LIstg58.611111/
10314104 1031
, DM', .7 lel 104
rsi Lighting 1st g,i5s.'51
Bet and est 1st g 58
11/3/1
10,̀410354 192
IOU% "7 100 113 "
e7Bles LAP latg 58.111132
liarla
MilwaiikeeRias let 43._192;
90
0054 01114:Ply "11
00 01
Ref & ext 0s.
1033
XerwarkitIoli Gas g 5s
101
:1041
10A J'ne'll
OM.10.1
Westchester Light'g.g.5s..105M
*.11i;pri-OWirrfi1ay:CStost.10,1 and asked Nile wools. O Due Ow; biDue.6eb ci•Bue Apr *One
Aoki ADue 3,17
103 104 103% 10a:
102 1041
.
80
'89
881 SO
iS 47
149's
1124 115 112 .711Y'11
111 112%
1021
/
4 101.216oy'1
100 101
0718J'AY'09
0534 .95% 30 01% 06
95% 96
II° May'l I
115%
181411014
102 1112 1 102% 189; .2 1911410214
103 1044 10314 Aug'1 1
202% 10.'
10114102 1014 J'se'11
101 101%
.90 Mar'll
00
01..
101 Sale 101
101
10 100%101
114; 116 J'oe'l 1
104 118
100
98 Aug'l0
1094
06 -Jan '98
90
07% 96
98
98%
*
146 10514 Ang'll
04 104%
414445 Aug q Dne(Dee 1111Dtion Salt
397
New York Bond Record-Continued-Page 3
AVG. 12 1911.]
.4
BONDS
N.Y.spook EX111-1 A NGIE
Wkilk EY0ING AMMEIT 11
et
Price
August 11
Week's
Range or
Last Sate
Rtissze
2
g3..
a c,
oarsuaru
BONDS
N. Y. wrocit EXCHAN(3111
Was Et ENDING AtTousr 11
2
ka..
Price
A'rte(a5
August 11
Week's
Range or
Last ,sale
Range
a.
IS17140
Jala tory
llig•• isol Low Bign
484 Low
11498 No Lou, klign N 'X Cent & li 14-(673))
Ask Lou
Etta
Long Isia.uti-(Con)
Roeeli Cr Ext.lstg 643 b1951 A-0 1"8"472
105 Apr.07
1927 M-S 10512
N Y & It 13 let g 5s
96 I 1174 Aprqh.
Cart
&
J
-0
43.
Ad
106
.1981
g
1st
gu
103's
.11
1
101
191
Q-J
.
Nor Sh13 lat eon ggu58o198
Gouv & °awe latirug 5a 1942 34) 100
9414 9841
99
98'S Aug'11
915
Louisiana & Ark 1st g 53.1927 Id•S
9914
I 99'.31ar'1li.I 99
?doh & Mal lat got g 43..1991 M-S 0 983
.
11410 11410 1 113411612
Lotti8v & N witty gen g 68 1930 4) 112%1144 11242-1.ne'll
NJ Jane It gu laS 4s. .1986 F.A
95 1* 100 i105 ...,1 '02
1124
.
1121
113%
19
1937
Gold 55
.
1/4/4
....
907
1J
11
N
V
910Feb'11
.6
M-N
g
.20041
312a.
Harlem
1184
9804
12t
Sale
94
9904
98%
194 J • J
IJAilied gold 48
North 1st g 53. .192. A.0
. 0834 97% Nov.10
194. J • J
Registered
774 0c
08
Autg"Y/ .... 97'g V77s
N Y & Pa lstcon gug4o 1993 A-0 954 9610 19
lob
10912
10904
1013
14.N
1931
Coll trust gold 58
Nor & Mont lat gn g 53.1916 A.0
111 113
115 11$ Aug'11
• & Na.sh ltat te 63.-11)19 J -0 113
Pine Creek rag guar 68.1932 J.0 120
105% J.1,y '11
10404 l05't
165%
J..Cln As Lex gold 44s 1931 kl-N 122%125
. 1 107'2110
10712
1 4' 5'jax."
07
II WA:0eon latext5a.A.1922 A-0 107 4 11114 13
122:
118%
12212.I'1y'11
1934
N 0& 11 let gold 6a
105 4, 105 Jan 1)Oswe
.1: it 2ct gu g 53. .51915 F-A
11804118%
.
1
Feb'l
1930 J .3 11841191 118%
N 0& hi 2d geld 63
1;:tve4.1
s30.1
04
1 18
ft WA oT It lat k,•-u g 55.1918 N 10414
053
,
95.4
9614
94
J'ne'll
96
F-A
1940
4.3
Paducah& Meat div
96% 98%
Itutbuid 1st con g 4288..1941 .1.J
105% 105%
96%
10614 109 105% blar'il
Ponsacota Div goat 68 192u
854 1302
894 J'ly'11
OgdoLOlutin 1st go.48 g1948 j.j 81).. 90
113 113 Sep.10
1921 M-8
St L Div 1st gold Os
Rut-Um-tad lat g-ug 43.111411 J -J
73% 7114Fe1i.11
714 71:
63
WS
1980
.t.
u.
26 gold 38
J'ible.u
92 .'
St8d
L
v
gsa olgoe.
A.dir 1st g 53. 19116 j.j 108 110 115
9304
112% 9204 92%
92% 4 92
At1Kn.ox & Cul thv 48 1955 M-N
'01125 5'51,
1996 A.0 119%
113 1124May'11
11241124
J •0
41100
2..t1 Knox dr., Noe 1st g 58194.1 WS
100 Pne'll ....., 99.
.j 997
Utica & Rik Itiv gu g 43.1922 j
106
104
1
'
AIX.
106
105%
3(63.1931
90
Render Edge lat at
89 Aug'11 ..,
Lane 16hore gold 3123....11197 J.D
88'. 89
6.1 12Aug'11
98
94
93% 95
J •J
89
4
Kentucky Cent gold 48 1987 11-13
87
1
'11
4
871
J'ly
kt,)
87%
.D
j
ttegustered
1997
103 Dec.10
10672
,8 194$
455135 11 Ai 1st g44
si igis zu
4
4 38
933
8
833,4.
e 9
alb
sal
..a S
1.
83
N 9
-s
f4.
21,4
183
_1
Debenture g 44.
91
90
Aug'11
SO%
88894
J
•
J
4.3.11152
mint
& N-South M
25-year g 45
1084May 11
10874 112%
LOU
Fla do s 1st gu g 53 1937 F-A 1014
Kiss &URlstguo55..19384.4 1104
.
Aae:1 ... 110041114
N&C Edge gen gu g4123 1945 J -4 1104
60Doc6
:
111
Matson C'l lilt .185s.1934 J-JI 1124
110
Jaat.11
110
110
9-A
63-1921
!PltaI
pens&AU 1st gu g
IE
13,
8
:
.1.
:
3
0
le2dg53.a1:2
122
1074
112%
1114
J'ne'll
111:
1101411114
S & N Ala con gug 53-1936 9-A
13010
j.j
123'.
PittsMoKdYletgu631932
94
92
4 9204 9204 May'II
41- S 91,
1
Jett Edge Co gu g 43-1945 /
24 gna as
I.
a.
N A&Ch See (.2
MoKeesd:11V list g tia 1916 j-j 10834
1tjIahouCoal Sec 1. &I Id 6
Mush Cent ba
1931 as.
1104115 1111 Apr'll .... 111 111
. 10 96
963
98%
Oa%
/TAanhattan Ry consul 48.1990 A-0 964
193
18
99
1i::0
1,Q
y 18
9.. 88 1188
19 J
40
J;n
-m
08
141 ....1 88
j.
Registered
Apr'05
104
A.0
199
Registered
48
117
97
9 964 984
97
I
Stmpd tax exempt 1990 A-0
98 Dee'0.
116
Registered
1940,j-j
M-N
1936
48
lines
Rit-Sou
Manila
1951,11.9
J L & 8 18t g 345
Cent
elcit'pt do e. V bee
81,
i1 ,Yei
.7;
9 ':
99
88
87
1952 M-N
91,8' 8
let g 342s
100 May'll
99%100
1911 J -J
Mex Cent coils g 4s.
1,'''
,
92 1 92 T'ly.11 .... 91% 93
20-year dab 43
31% Mar 10
1y
......
gall/391'
tuo
lat cons
833.198.J .1-0
do
C
Sturlatga
Eat
'09
Apr
254
2d cons Ina g 38 trust roots.
937
O! .
.90% 10t) I 09,4
A:ra
7:A
.N 1: Una& zit, 1.. 1.s.t, g 48 1%
77 Mar'l
hex Internet 1st con 43:1977 34-9
79 Nov.10
,. 92%
Stamped guaranteed....1977 Ni-S
3';°J' -I:.-g,..);
1931 MN 890 sale 1 10u
t =tures 43
to
h93o ')e1''
,2
14
8,
00
09
10
i1
2 11,
3
4 10.1
84...4..
0 34:
oll.Uenl bee 51 1 Cent
03c. 182
361 3
J.
31 10014 100
-.1
Worn Shore lat 43 gu 23
1116 ot NJ OW brie
Itegistereo
144
19
do
Chic
LS& W !See
a.rio
bee
1.8,te
&
Y
Uremia'
N
iL1i&Nurtlt bee Ch At & St P
N I do Mar tieo N Y C& liud
180 Jan'11
130 130
Minn .33 St L 1st gold 7s 11127 .1.1)
110% 2 1104110% 51 Y Leak & W ,ee 11 1, s. 'lb'
Piscine Itx 1st gold 6s 11121 A-0 110 113
N Y L iS & N% beeline
'11
Ply
1011
1114
103
1934 4-14 104 109
lat °onset gold 5s
N V & Loug Be bee Cent 01 N J
1
74
71 Aug'11
65
72
66
1 9314 944
9410
1st and rolu ad gold 43 11149 41-6
944 9414
N IN li & R-Non con 43.'56 M.N
Apr'11
1)2
814
80.
80
.14
35
.
43D let gu
92'.. 29 92 1)010
Des M &
02 1 112
j.j
...:
/511
Cony deben 3',.s
1,12
Minn & St L. gu See 130 RAIN
132
132 1:.:4%
17
131',.
130
w.
.1-.1
deben
Cony
1948
. 98
9717 953
97
07
b113tP&Sfibloong4iutgu'3. J.J
4
/
lisrlem -Pz.Clices 1 3.481954 M.N 1.111
9810jan'10'.
..
31 SS 21 & A lot g 4 int gto 11126 J-J
o L 101 48..1991 j.j ......
1
N
Eng
Len.
Minn On doe St P M &M
..
1 19
.
6;:e3-11
6
3:
6
3%
13 4 173
Iluiusatouie it lX)U g 58..1937 hi-is 1134 9328 1113
031.1 9312
98 ts
Mississippi Cent 1st 5s 1949 .1•3 95
4 1.1 LT, DerUy con ey 58.1913 M-51: 1021
1,
4
/
97% 1 984 98
g 48 1990 3.1) 97% 98. 97%
1 .::: 841$ 97
4
1
:
y
ag
Al
Au
ado Kau & 'Pea
7
87
19
87
85
see
48..1957
M.N;
deb
Providence
gi990 9•A
844 8434 844, 814! 3 8314 8.6
26 gold 48
'
1
1007.1034 N. 1 Cs Norte 8es N If t.2 ..is ii I
.Aug'11
1004 1024 1007
1944 314%
1)7
1st est gold 53
84,, 8
1294;...8 , 9412
9
4,,y081
84
83
N IC 4.) & W tot 1st g 4s..g19112 m.8 9414 9534
78% 83
81 ./.1„so1J
204/4 Bi4 81
/
801
1st & refund 48
Regis(15,004/ only
g1999 14- g
4 12 85% 88
87 Sale 87
87,
11)36 .1-.1
.
...
92% 1123
'11
Gen s I 44s
92...Ply
General
9114
4
791
41
,
1
79
78
4
/
791
01-0
2001
7014
St L Div 1st ref g 4s
Aesk: Y C ,ls ki5 j-D
8 105%105% N Y db Put4s195
Dal & Wa lot gu g 58-194 M-N 100% 6410 105% 10504;
N
IC
It
ea
13
&est
!Aland
Long
8904: 6 80.4, 9.02 N
;894
80% 89
Kane& Pao lot g 4s 11.190 3'-A
I;
I S ..,%, W boa Kele
.'108 11010
I
tdo K &Ii. 1st gu g•53 1942 A •0 log 14)1,34 10972.P/r11...
N I Tex & M Sae doPae Co
1942 M.N 1044107% 106% J'1Y.11 ....' 10614 108
M.1(&0k1sl.gLis
1034Jan'll
...•
10341034
&
let
54
g
Nor
South
1941 M-N 1034
J'Iy'll .„,..1,102% 105%
3
bl I(& 'l'ot'l.1st gu g58 1942 M-S 102 103%105
Nor( & West gen g 6s
11131 m•N 12414125 124% J''lel i .... 124%124.
103
Marl
4
/
j
1051
10310
102
1043
4
Os
SherSh& kw lat gu g
g
&
J'Ile
ext
68
127
11
•••
•
126 127
ImprovonVt
F.A
1934
12641254
bl•S 1044 105%1043
.J
.... 103 1054
Tex& Okla 1st gu g 5s 1943 St-N
New River 1st g tis
193" A.0 1244, 122 126 J'1y II .... 1.243.6 125
0 10804 1 1034 Ill
103
1084
192.)
68
g
non
1st
Pacatte
14 ;rt.,. 9012
Sio
98
97% 973 9734
11100% 100% Um% 10034 2 10114 1024 • IM & W ity 1.34. cou g 44 11)06 s..0
Trust gold 50 stamped.519/7 11-8
98
98 Jas'11 .. 08
1999 A-C)
_Registered
so Atari)_
a6.917
Itegisteroti
91
92% ,-1.-7 92
Div'l 1st IA:gen g 48 1944 J -J
92% salts 924
100',. 3 1l00-A.102
1920 b.-A 100%101 100
Lt colt golt1311
32 100141097
1,02
105..
.... 1
1
14)414
1 104%m.
:
i1J0
S
ony439323
Cjoint4s..w
10-25yearc
.Aug
11
71
82
M-S
77
11143
76,.
43
loan
40-year gold
0&
l'oesl
90
90.
10
88%
97
1)014
9610 3,t3Y'll
1938 M-14
00,. 96:
ad 78 extd at 49s
11322 J4 105%
C C& T lat gu g 58
J.-14 50 '.11'. 9438
9114 )/ale 9I'.
lat do ref cone' 5 ........11159 MS 92
95,
2 97,
boio.4 & 14 h.lot gu g 44 1989 111-N
2 19
5 1.4°Y.
°7
V71' 4 14514 la's
9204 92 J'110.11
1/334.
1/2
Cent Sr My last gu g 4s.1919 -A
W
bee
.N
Cln
de
Illinois
'North
I
......
10
'
,MAY
854 87 6
Ceu Branca U P 1st.g 4s.11148 .14) 84 1412
Norui Olin, bee .L Brie & W I
110 Mar'05
Llatg53 1926 J -J
Leroy&C
93
994100%
4 sale I 991s
/
„...1 96% 9834 Nor l'ao-Prior lien g 46..11197 Q j, 901
964 97
lst ex g 43.1938 1f- A
eats It of
' 1.18,
..Ply'1 1 ..., 984 994
Registered
2Mor11
.... 10872 1084
lusts .1-.6 10835 1094.1081
26 Imamate.' gold
7114 0 7014 71...
41.j;
41
199
74
1 71
General hen gold 3a....a2
714 714
047
4
.
1(183
106
I)
1
A
581931
Is
con
108
31&Sgett
ir
811.L
7044 99..lia/311 .... 69..
4 694
Regadered
a.2.)47 Q.11'
!111 SeP'09'
Ges.eon stamp gtitgbs 1931 A-0
98
St Paui-DiU Div g 43.....1996 Jr-0 96
93 1 98 J.ly '11 ...• 90
8314 871
8304 SI Aual1
Unified do eel gold 4s..I'J21) J •.1
.
Veu'l
99
Dal sli.ort L 1st gts 53..1916 11-13 99%
83
2 844 8804
86 I 85
85
& Ci Div lot g 48..1933 M•N
C II& ,40o11tr 4.8 See t.ii.Nor
'
10210.1an'10
Verdi V1&W 1st g 53.1112'41-S
St k A: 54 P gals g 68....19'23 F.A 116411634 116123'ne.1 1 .---1161411604
190 12.2
blob & Ohio new gold 6a..1927 I-D 1204122 1)2073-1'11e'll
Rogiatered certinc's..1.-Y23- Q.FI 1154 116.2 1153.Aug'11 ----11504118%
.1Y'll
1151411034
: 91 i1
let oxsousion goki 6s..h192' 44-1 115 116 ,1151.1
il ......
Ii o
puto. l
4. JA,lie
1
:
2/
10
tit Paul as Did lot Ls. '.111:31 9•A I 1084
11,0
1
87
88
M.-S
83 87% 87 Aug 11
GouoraL gold 4s
102% 102.4
1917 A.0, 1024
110 11014
F
110 1104 1110 Apr'11
biontgoin Div lot g
Apr'li,
4
96
2
43
o
c
tti
d
18
gold
onso1
01
19438
.1-D
81
1
atitel
81
81
Q-F
43..8193u
5L .t Cairo coll
80
9114
g
Cent
1st
Is
Wash
U0
11148
Q-M
11131 J.j
U310I'11 ..' 9314 044
Guaranteed g 48
Nur Pao Tor Co lot g 63..1933 J-J ill's__ 111%Jan'11 .... 111%111%
51 & 0 coil 45 bee Southern
Pao
sea
So
cal
Ily
Nor
11
01:
N
C
tdohawk db blal /See
tier Wm 6es t.; bt I' ..N.1 do 0
Monongahela lily des 15 do V
Nor do Mont dee 51 1 Cent
tdOnt.Cent dsiStJiSldlSL
Ind & W Sec C,2 t.2 C cs St L
Pen
MorganPs La & '1' Ses
hio itiv Jilt Bee 01(11,1, O.
Morris & Vanier 8seDol Lit; 1%
Ore & cal tied So rao co
-J
J
1y'll
....
.
131.78.11113
L
3
St,
10514
&
10512
Chat
105041064
kjaalt
Ore short Line bee On l'ao
1112, A-0 10O34 110761.60,,J'u.'11 .... 10o.I11
b.‘lat cousoi gokl 3s
Olowegode limes nes N V C
11576 Nov'i0 .
Jasper Eraiaoli lat g 68 1923 .1-3 It5r-s
106 108
L,MC Coast co lat g 5a....11/46 .1-1) 103 107 105.2 J'ne'll
.
3-3
'10
Deo
1084
;
11117
tla
1
.
13t
107
Al
blo34 si W &
1 atc of Alusamin des Mu Pao
11/17 J -J 31061
4
/
113 Ply'04
T & P Branch 1st 13.3
Penn ItIt lit real rat g 43.1923 M•li 10074 101 14 100'. J'ly'11 .... 101 102
N
&
L
bee
Shot
A:
aloe
Nash
110 108 rue'11 .... IUS 198
11)1311.9
1.3
6 917w 954 . e011tiol golu tis
93
Nat Rya of Alex pr 14 4,8 1957 A..0 9204 Sale 924
.11/312 rue.11 .... 1031011134
1023
11143 M-51
Courel 8016 4.
81134
84
11177
85 8e
94
Guar gen 4s
191211-N
9914 4 9834 9914
Coavertable g 312a.
9914 99% 994
Dm%
.1-J
1004
192ii
10t3
4
1003
128
4
lien
prior
Nato( Alex
83 964 974
91
96%
safe
11115
g
4
963
34a
4.1)
Convertible
,
11
A.-0
834
1951
7804
77 is 80,4 802Ang
1st consul 45
.
1 102% 1.141
11)2%
4
1023
sale
olg
gi
u
g
4a
‘,
6
.1
el
.
g
s
gu
t
i
g
(Lo
84
14/2%
48...1
1.1)
2
8
8
4
N
A.
r
M
New 11 Ss 1) See 51 52 11 ea is
1004 90,b Apr'l 1 .... 1411 .10014
lCeut
N
:See
I
NJ Juno RR
it
it
D
a
&
lige
4s
1st
F-A
gu
1110
g..3.1
bf Man di Mau Bch deeLl
1014 Aug'111.... 10119 1024
Plinallaidb W lea g 43..1943 11-N 1014
8816 18 8724 90
88% Salo 88%
Cent do It lnvgS10e 1901 J J
N
SodIkty do 801st g 6..1u24 3-31 96:1024 102 Jail'03,
86% 894
11/117 J • J
574 884 874 Aug'11.
Itelgtotered
UR
&
J
Can
gen
N
U
M-8
43.1944
4
1031
10014102
4 MaY'l 0
/
94'j
93% 5 132'.
19' (.1.14 934sal.; 904
Doben g 48
104 •Ply.11'.... 10341044
. Penn Co-Uuar lat g 4.23.1921 3-3'1034
807
7904 18 79
La keSkore cull g 34.3 1i19 I-A 79 Sale 70
.
.Mar11 1.... 102%1027
1027
Registered
1921 4 -J
104
7914
2
,
77
7914
F.A
Aug'11.,
1111
10
78
77
Registered
01.0.1 3128 cull trust reg.1937 M-S 87 te
94) Aug.1 .1'
794
73
7912 Ply'11
Web Cent coil 8348.-1111W F.A. 784
89
ouga 84,8 coil tr ser 13 11141 F.A 59
8804 J'Iy'll .... 88
78
70
199 F•A
77 72
18
Itegisteceti
974 9734 97 •-..Ply'11.... 97
0734
24.1916 M-N
Ti Co certaragu g 3,
......
99
US..Dee'lo
Beech Creek lot gu g 48 1936 J • J
87 Aug'14/... ...
1942 3-0 874 90
Liu 3123 tr clts ..)
• 99
99 Mar/1 „
984
1.0341 J -J
Registered
88
8912 58 J'Iy'll .... 88
19443-0.
Gu 3 hatr cthi D
1936 J -J 106%
2.1 gu gold 58
DIISCELL kNEOUS BONDS-Continued on Next Pn.ge
-::: ....i..
up',. 1 99.. 100,•
......
".59
108,12108.
to
O
Coal and Iron
97 reb 11 I
9712
Buff &13u8g Iron a t Os....1932 j.D
140 J'ly.11
a 1920 b1.8 89
Debenture 58
geu at g 53-1943 F -A 100 10211 101 12J'ty '11
Cut 1, do i
100 .Ply'11
Converrinie deo g 53-.1911 r
76
764 Aug'11
73
Cot 1 whilst& coil do yu..11134 b'-A
Dole
107% ve.o.04
Coutin'talC lots' gu um 8.11152 F-A
90
63..10113
A-OI
102%
g
lot
Apr'06
C
&
Coal
Or it tv
107 May'in
Solt & Clear & 1 1st gba.11120 34)
2 Doe'08
90.4 101 105,
Run& 11 CI As C136s f gino.11/b1 .1.4
85 A.pr'1 1
84
Pooall Con Collier 1st s t 58.'57 J -J
83
84104'1143'11
P 1st 33.1953 2.3
SS I, Rock 1dt
j
73 llob.07
sunti.y CrzoK. uo g
1951 J.J 103141637o 1034 1034
Tamil t:oal, gen 58
.7.1y.11
.
all)17 A-0 1044 109 104.7
l'eun liiv las g
.1.0110 104,
,
Mem Div 1st couaol 6s..1917 J -J 104411147
1U7 110 110 Jan '99
Cali t; Al Co lot gu g 68 1922 J •
. 87% 87% May'll
1953 .1-3
Vioter fuel lot s 155
964
9734
Vairon Coo t ,t,COIHL g 58 1949 M-13 964 98
San-taine Fel)
eaDaI ,No price ;friday; lateatbldandasked.
miumtaetaring Jic lnduetritt1
7,
82 70
72
7114 SaJt 71
Allis.Olialtners lot 5o...„1936 J -J
1928A-0 1011
.Salt 101% 101% 11 10114102$,
Am Ag ehein let o 58
3
98%
974
97%
ig
7
4-1(
11115
97
oat
98
4177
410s
4
on
Got
An:
1 93
97%
116
1931 Pet-N
90% 96
Deben 53
98%
9614 100
963,
9634 saje
Am 11e& L lot a t g 63-1919 M-6
65
78
1
.1,a
;2
g
li
Au
4
/
31
,
g
72
10
deb
tla
socur
A-0
1925
Amer Ice
1.2 1.00,44 104.
4 SaJ75e
/
Am Smelt St-aunties a I64.1926 I.A 1021
1 .... 100 103
41 8
.
•'
1 L. J'Ilyti
192 11U03
ain Spirits Altg 1st g 63-1915 11-S
92: 93%
11304 May',1
.&w Phread los eel tr 43 .1919 J -3
93%
.-3-iii 103411014
t
3 stit
1 A
.
:
44
04
95
wl 185
Ain Tobac,co 49-yr g 6a-18
85
84
79% 934
4s.
86
83
14
t1t1P
'
.: 8.13 8972 91%
91 12 line 1.5
Am %Vritg Paper lat at 58.11119 1- J
10312.Ply'1 1 ... 102% 1034
T 103',.
,
II 10:313104 4, Ilaldw Loco Works lot 55.1114 P41-1
95,. 1
864 98's
94 SW, 1/4.
105 105', .eui :At:CI. 181 eat $ I. 58.-1U -t., .,• ..,1
, 51 984 100
1/83
U8 Sale 98
out Leather :NJ-year g 513 11121 A-o
4 10411a 10d
81% 90
83
1951 F-A
ons 1 Tobacco g 4s
97%
96
97
884 born Prod _Ref a f g 5s. .1931 st-N
87
9514 9013 11634 Augll .... 1/54 974
1934 111-N
1st 25-year al 58
91 12 98
Du.e May g Dna J'ne h Duo Xly kDtie Aug o Due Oct siDlie Nov 41 DUG Dee
9814 97
90
89
117410214
9'% 1004
7314 7932
t3t4 Auril .' ..1
.3
398
New York Bond Record—Concluded—Page 4
(Vol, Lxxxxin.
„
411
_
BONDS
it
Pries
1:31
BONDS
Week's
Range
Price
N.T. STOOK EX(IFT A NG18. !It
Week's
Rance
&Mao
Range or g
N. Y. STOCK EXCHANGE ,
Since
Friday
Range or
o
WHEN KNDINH AUGURT 11
Since
August 11
3r.
Last Sate
Januar,' ;
W Eke ENDING A.U0178T 11
August 11
Last Nate
4 Jallttan/
Penneylvania Co—(Con)
Ado
Ask Lois
Bielh No Low, !huh
As" Lour
Guar 15-25 year g 4s
11 tun Ng ',gm 11 tali
1981 A 0 9512 139
98%
Southern—let eon g 5a....1994 j,j; 10-3 l08',1')
9883 101 9734 89
1 Cl do Mar let gu g 4,
10819 42 10619 109'.
3
28_1935 M-14 102 4
110 Jan '05
Registered
1994 J.,' I 105
; 0113 P gen gu g 4 4isser A.'42
1064
Jan
'09
4
1103
Develop
&
gen
Ser
43
A-1956
A.0'
78
4 Salo 171
Seriee 13
1 15 liv
a7T
'
-3', -313 76
1942 A-0 10v
804
Ply
109%
'09
Mob
&
Ohio
con
tr g 43-1938 14.,s
8e
Series 34s
884 864 Aug'11 .... 86
1945
88
110
06 Aug'09
Stem Div let g 4 4•55...1996 J.j• 109
,
Sertee 1)315s
Ply'1 I ...., 1)18191)19',
1950 F- A
90
00 May'08
St Louis div let K 43....1951 J.j 884 Salt I 109
Brie & Pitts gu g 312s 8 1940 .1 J
884
85,6 1 86,5 89
90
Apr'l
904
Ala
I
Con
R
lat
gee
904 01
1918 j.j 107 4 1l0191077, Nooto .... ......
Series(`
1940 J.J
90
... ..
95.3 Apr'04
Atl & Danv 1st g 40
1'348 jj 88
; Or R & I ex let gu g 4 he 11/41 J- J 1043
90% May'l 1 .... , 90,
2 90%
10436 10419 4, 1044104%
2,1 48
824 8234 82,
Pitte Ft W & 0 let 733 1912 J -J 102.4s
4 J'ly '11 .... 82,4 824
J'ne'11
103
Atl
&
.
Yad
let
103
g
guar
4s.1
18
94
1181 j
104
A:ci
j 8019
267,
.1912 J -J 1028
,103 1034 Feb'1 1.
001 13 Oreenv let tie
10376 10376
1916 j-J 1136
35Th•
.... 10619 107
h1912 A •0 1024
107 Oct '08
E 'E Va & Oa Dtv g 55-1930 j.
j 107.4 1084 1 1%
7t4 JAYire:11
Pitts Y& A ell let con 53.1927 14-N ,107
May'l
0
109
Con
let
gold
55
11156 m•N 112
• PCC& St Lgu4433A...1940 A-0
112
112 ...6. 107
t)%76 r2/
1
4
, 10579 6 10576 1(17.3
E Ten reor lien g 53
106% 1o57
19138 hi.s 101/86 ... .. 1064 Aug'11.... 105
Series 13 guar
1942 A-0
106'4
103% 106 J'ly'11
Ga Midland let 33
106 10734
72
66 Nov'09 ..„„ ...... ......
Series U guar
1646 Am
1942 1.1•N 106%
Pne'l I
Oa
Pao
106
ity
let
106 106
g tie
1022 j.j 1134
, Series 1) 48 guar
1134.3'13"H
,113 11.1
1943 51-N
9836 Dec'I 0
974
Knox & ulno let g 63 1925 .1.j 1124
Series It 315 guar g
175', May'll ....!
1949 F -A
—.. 1154116
913, Apr'l 1
03
-dub& tiir prior hen g 6E11945 j.j 106 le
913 ti:s
1054 Nov'to
Series G 45 guar
1057
9774 9875 98i8 May'l I
N
Alortgag
o
gold 43
08 16 9919
1946 j.j 73
C St L.& P let con g 58 1932 A-0 113'a
11310'19'1 i
illell ea Dan con g 55....11/15 j.j 1034106 10
113 1134
Pensacola & All .Yee L& Naas
82
576 A
.
(
1.)
1g
v:(
1 1)18 .... 05 10576
Del.)58stamped1927 A.0 10475
Peo & East See C (1 & St L.
105 M11
ar
.... 101%105
Ricli
&
Meek 1st g 48...1048 2d.r4
71,6
Peo 13 Pek (In let g 63.-1921
AI
arl
71
4..
71
110% 109 May'l I
So Car & Ga let g 58.....191964.11 104 10476 10414 Pue'll1 .....1 '71
109
109
2st gold 4 he
.... 1031910419
511121
931, Jan '11
99
Virginia
Mid
6s...191
ser
()
93'2
93,
6 FA.s 106%
,
Pere 5farquette—Ref 4e..19311 J -J
74% 70 Ply'll
serlee
D4-Ss
06
11121,6g.s 1 3 e
7634
Retunding guar 43
10
12
44(
J
'
)ente:(1)61 ....'104,4 1044
1955 J
67
71
68 Ply 11
doee
n E 53
.
763
11/26'm.g 105%
68
Ch 53 w Al be
10)3 Mar 11 ....'106 106
1021 J -D 4,10))4
1)10', Apr'l I
iteneral be
1004 1007
1113)3 pg.N
Flint & PM g tie...
Aug'11
10719
.... 107 108
1020 A-0 1104
10304 J'ne'l 1
Vs.),
So'w't let gu 5e.2003 j.j 1084
10934 110.4
1084 Ply '11 .... 1(18 110
let consol gold 33
19311 M-N
1094 10:3 51ar'11
1st cons 5u-year 53-11/58
Pt Huron Div let g 58 11139 A-0
A-0 954 96% 9is4Aug't1 ....; 9419 9719
100,
,100% 1004
W
013
W
let
ey
48..1924
gu
g..A
• 01
6:10019103's
91 Fell'Il
Sag Tus& 11 let gu g 43 1931 F•A
'
110
West .1.1 U 1st cun g 63..1914 j.j
105 10434 Ply'1 1 ..... 1044 106
Phil 13 & W See Penn Hit
8 & N Ala See L db :4
Philippine ity let 3u-yr 33143'37 J • J
84 Sale 84
I
Spokane
84
7
Internet
1st
84
1965
g
j.j
58
....—
104
88
Pate (,in & St L See Penn Cu
Apr'l 1 .... 102 10
'I 'er A of kit L let g 44)3_11335 A.0 105 10619 102%
105% Ply'11 .... 105%10219
Pitts Cleve & Tot See 1313 0
6%
k 1st con gold 53.....18154-11144'F.A 112%
110% Ply'11 ....11034 11219
Pitts Ft W & (31t See Penn (Jl.
Gen refund erg 48
1053 j.j 95
96 10
11%
4 Fly'11
Pate McKees & 1 8e4351V Ceti
St 14 51. Bge Ter gu g 68.1930 A.0 107.4
Pitte Sit & L H let g 633 1941) A-0 112%
::::
108
65%
411
'
084
11276
112% 11276 Tex 4, N 0 See So Pao Co
let consul gold be
194.s J • J
Tex& Pao let gold 5s
034 Ply'97
2000 J.D 1104 11034 1104 110.4 0 110
Pitts & West Bee Li&()
11119
26 gold Inc 5s
q2000,,mar
46
65
0
70
%
A
Mp
ar
t
lt
D eadnig (10 gun g 45
o
....
1997 J -J
98 Sale 98
9815 70 9634 98%
L11, D1V 23 L 1st g 55
111;311j.j 08%
Lk,Registered.
1997 -,1
11714 Apr'l 1
W Min W&N W 1st gu 63'.30 F.A
974 97%
100
12
615 li
10
Jersey Cent coil g
s„,opv;it/),,
-1 .......
.1961 *0 974 97
u C let g Ge
974
96
1935 j.j 109
974 Zit&
Rensselaer & Sar See
109 Ply'11
4s..
1)& 13
10
99
8.
14s 19
10
94
19
Western Div let g be...1935 A 0 1 9
RIch & Dan See South Ity
cienerai gold be
11135 J:D 133,4 103.4 1034 Poen •... 101410
Rich & Meek See Southern
34
Kan & Si let gu g 4s
1530 A.0 90% 02
Rio(Sr West See Den & 1110 01
1317
5
92
15
90
92
25 20-year 5s
1927 j.j 074 90
itooli & Pitts See IS 1113 P
118
98
2 964 08
Toi P d2; W let gold 4s
11/17 j.j
Rome Wat & Og See N 1: Cent
91
95
112,
5Pne 11 .... 90
Tot St L & W pr lieng ;343 11)25 j.j
924
Rutland Ace N V Cent
874
8715
t7',
'2 874 894
50-year gold 4s
1950 A.0 694 72
70%
71/4
1 68
Coll tr 43 g Set A
747
1917 F.A
tJt Jo 13 (Sr let let g 4s 1947 J -J
76
77
76
Ply
'11
....
76
884 93
814
88', J'nell
86% 88.4 Tor!lam& Sun'Big 48.A11146 J•1) :Xi% 0.1, 11 004, J'ly '11 ..... 87
St L & Cairo See Mob & Ohio
90%
I !later& Del 1st con g 5/3 1928 j.D 1013
St L & Iron Mount Sea Al I'
105 4 Ply'11 .... 1054106
ld 1st refund g 4t3
11)52 A.0 844
8547P11'
L 51 Dr b'eeT UR A of St 1
1l
....
86%
85.2
Un Pac 13,11 & 1 gr g 43 —.11147 j..„1 1014 Sale 101
St _Louie & 8 F—Song ($3 1931 J J 119 1104 119 J'Iy'I
301% 65 100 1024
Registered
I
10
17
8 10
11147 j..2
18
9
100% 100% Ply'11 .... 994 100%
General gold 53
1931 J.J 108 198% 10776
2(1-yr conv 43
1927 j..1 1034 Sale 1034 10134 705 103,
tit La, ts RR eons g
'96 J -J
4 1104
91)
1st & ref le
90 Ply'11
92
90
g2008 Id-8 904 97
91
(Ion 15.21) yr be
064
974 22 1164 984
48..
1927 M-N
88
()re IV & Nay con g 48.11146 J-D
884 67 864 90
95
Southw Div 1st g 6s 1047 A-0 *98 Sale 88
95
95
2
96
974
Ore
Short
102', 10034 Mar11
Line let g 68_11/22 F.A 113,
100.4 101%
4
Refunding g 4s
1951 J -J
80% Sale 80
81,4
CO11801 g Ca
194ti j.,3
83
712 1124 J'Iy'll ....11114 1134
KU 11 1313 M con g 6s 11/25 ,
13-N 116 4 11976 1164Ply'll 41 116
Uttar
retinal
45
1
1
u
9
2
,
9
80
j
j,..D
4
D
117
34
933 sale 0334
K 0111313 Ai Ity ref g 48 193)) A-0 7934 Sale 7e34
1)3',
92.4 95
Registered
6018 ...if; 77% 81
04 Jan '08
K C&
tt 313 13 let gu63.1929 A.0 4.1004
10014 Dec't.re
Utah & Nor gold 58-11)26 j.j WO
108 Marl I .....
Oz'rk & Ch U 1st gu 58 g.1913 A-0 994
. 108 108
9936 Aug'11
Um
N
J
RR
99
,
2
&
Olio
974
tied
Pa RR
994
81 Louis So See Illluois Cent
Utah Central the ttlo (Sr Wee
Sib oS W let g 4s bti otte.11389 m•N
92%
92%
92%
8976 92.4 Utah & North the (In Pactlic
26 g 45 me bond otfe...p1981) J •J
01103
80
Ply'11
803
Black
13
4
tt
See
78
N
83
Y tient
Congo! gold 46
1932 J•D
7976 22 764 81% V &nasals consol g 4e
79
7036
80
1565 F.A
08 Nov'08
Gray'sPtTer 1st gu g 58 1947 J -D
101,y3 Apeln
V
974
Consol 43 Series B...1537 m..N
97
974 074 Mar 1!
tit Paul & Dal See or Pam tic
96.4 974
Vera Uruz&P 1st gu4,5.3.1934 j.
J
130 Pne'l 1•90
914
St F Minn & Alan See (it or
........
91)
Vet Val Ind,), W See nio 2
86 2 Nor Pao See Nor Van
Virginia Mid Bee South lty
StP& S'x City Seetibt hl
abash let gold 53
1930 MN 109 Sale 108
1084
8 A.& A Peas Ist gu g 4s...1943 J •J
16
109 110
86,
4 88
21 gold be
87%
874 1 86% 884
81 & N P leteinkf g 53.1919 J J 11/04
Ut
Debenture seriesB
104 Oct '01)
1833F
193 jJ:A89.
... I 34n88
98 N697
Sav & West b'ee ALL Coast;L
Apr'11 .._
1st hen equips hig 63-1921 m-9
104
160
May'll
801oto Val & N IC Bee Nor 13W
1013 104
13t hen 55 yr g term 43.1954 J -J
85
Seaboard A 1. g 411 stamped '50 A.0 874 Bale 974
83 Dec'I u
lat ref and ext g 43 ....1956 j.,)
87% 41 8434 88
61% -Sale ()I
Adjustment 58
6419600 61
o11149 F-A
774 7878 77
Let ea (Ai Ext let g 66-1941 J -J 1074 1084
78
71%
2 75
52
1073
4
At -Bum 30-yrlet g 48 51933 M•
May'll
..•• 10734 1084
86
Des Mout Div 1st g 48-1939 J -J
8519 get., Ply'11
85.4 87
80
Car Cent let con g 45 -11/41) J•J
81 15 MaY'l I .... 13
up, Apr'll
92
7(
1.
r2
98
Om
8
7
Div
5
13
4
4
1st
g
3
43
1)1%
1941 A-0
91%
75
Fla Cen et Pen 1st g 53.1018 J • J 51(e:15
'/5 Ply'll
Tol & (ill Div let g 4e...1941 fti-s
103 Merl 1
102 103
814
let land gr ext g 5s...1930 J -J 10315
85
85
Wab Pitts Term let g 43.11)54 J -D .I, 44
Coneol gold be
48.4 8
45
84 J
M'n13.:11 ._. 414 49.4
1943 J -J *105
1054 Apr'll
Cent & Old Col Tr Co certts. .... 44 Bain
10619106's
(la & Ala ity 1st con 5sol1/45 J -J 105'
43'4
46 384 39,5 50
104,
Co.runbia Tr Co ctfe
4 Mar'l 1
10419704',
44 Sat. 434
Ga Cax & No 1st gug 58 11/21) J -J 105
45% 43 40
60
105
:Al
gold
4,1
104
1954
J
-D
105
8eal.)& ttoa 1st be
234
2 4, Aug'l i
1920 J -J lt)686 110 109 Alay'ii
'2,
1 74
Trust
Cocertfe
100
109
24
Sher Shr & So bee Al 11131
319
2.4
2%
1
219 8
Warren See Del Lae & West
5tlSpOca&U See ALI eoast, L
Wash Cent See Nor Pao
Southern Pune()Co—
Wash 0& W Ass Southern
Gold 48(Cent Pao coll).k1949 J -D
Wash Terml 1st gu 34e-11345 F -A
zii,
0
97
alie
1.4
b
,44 S
0
91
73
9
084
2 2011 0
9
643
14
10
9
0
3
%
83% Mar'll
8719 90
20-year cony 45
884 90
g1929 AlWest Maryland let g 4s...1952 A-0 874 sale
87', 874!
Cent Pao let ref gu g 431049 F.A
.
11...
-i 11)3v46
86 .188%
(8)3ii4
West A 113 Pa 1st g 531-1
974 Sale 9719
974 1313 06
104
3.3
1 .A1.
-0
J
10
0
9
834
105.4
4
974
DA%
Putt'l I
Registered
111411 If-A •
03(
97 Feb'10
lien gold 40
884Pue
11
Alert guar gold 315e— 1c1921) J
pi
9134 91 Aug'11 ....
Income 55
al043
Nov
34 Feb'07 .. ....
Through 8L L lst gu 48'34 A-0 90% 93
11276.1'ne'll .... 8
West No•Car See South lty
92
1
934
82
G lista SA M&P'etas-1931 M-N
1084 107 Apr'11 ••.. 10641084 Whee4'g & 1. E let g 53...1926 A-0 1034
10419 1043.Ply'11 .... 10319 105
Gila VG & N 1st gu g 68 1924 M-N
Wheel Div let gold be..1928 2--) 1024104
104 Alay'l 1 .... 1034 1043
Rona 11 13 W T let 31 5s 1933 M-N 1044
nxteu db Imp gold 55...11/30 F -A
AIY:11.
3 J'lle
1(15
•. .. 1
106
3 103
1030
103 102 Pue'10
let guar 65 red
1'333 M-N 1044 105 104,
Rtt 1st consul 4e........11)41) 51-5
6 Aug'11 ...... 1044105
844 8519 8119
84%
let g Se int gu 1.937 J -J 11/1)19
1 .ii041
2
5
06,2
0
8.Ply'll •... 109411(13
211.year
1.098
equip
5
os
1
,
—1922 .14
138% Feb'll
Coast)! g 63 lut guar 1012 A-0
1104 101)4 Marl 1 •... 1094 109'4 Wilkes & Kato, thee Erie
Gen gold 43 int guar 1921 A-0 944
0435
Wil
Sioux
&
94.6
See
b'
St
7
1-'
Al
Ai
&
954
0319
Waco& N W (t1v
dis'au 'SI-N
%4 ant' 0
Wts Cent 3U-yr let gen 4s 1041) J.J
17
10
93
L&
9319 023.
W let gu g 53
934 22 92% 93%
11141 J -J 1
114
064
Sup& Duldiv& term Ist4s'.313 M-N
1314 0214 1/24 Aug'11 .... 02
Morgau's La & T let 78 1018 A
116,
93
5 51arll .... 1154116 16
.1144
let gold tis
Telegraph and Telephone
1920 J -J 11019
111 Mar'll .... ill 111.
ot Cal guar gbh
1938.&-O
112 Feb'07..
Am
Telep
Tel
&
oat/
tr
4s
1929
J-J
01
Salt
Ore & Cal 1st guar g 55 11)27 J -J 1024 111% 102 J'ly'1 1 •...102
01
91% 42 80% 92%
convertible 43
102
11136 M-8 10576 Sale 1064 100'-.
So Pao of Cal--6313;
1912 A.0 101
131 105 1134
101 12May'll.• 10119102'. Commerl Cable 1st g 43 1397 Q-J
83
let gold Os F
8.3 Mity'll
1912 A-0 *101%
834 934
Mich state 'retep Ls( be 11/34 F -A 10(136 2ads. WO%
11419D')
0
'
04.
let con guar g 5e
3 98 101
193713.N 108%
10019
Telep
let&
Y
gene
f 4123.'39 M-N 100%3-Mile 100
So Pao Coaet let gu 43 g 1937 J • J
43
98%100%
1004
8t1
'17Y
90 19
y :60 9
J6
7:
13 ?
Pile Tel& Tel let be
19)73.2
99% `2,ale '31.)
San Fran'1'erml let 45-19o0 A-0
1/6 14 3381 117
9934
Ill% 91,-,,Aug 11 ..... 914 934 West Union col tr cur 54 11/38 2.3 101'4 Sale
TexdbAuSabDivIst gtis.1912151.8 1014 11/188 1014 Al.e)'11 ....
101% 101'4 12 1194103%
real
101%101
/Al
and
eel g 412s 11/51) M-N
76
964 113,34 116%
Con gold 58
2 05
116
1943J -J *101
984
10119 May'll — .10119 103
Cony 4e,Series A
1936 M-N 104,5
Bo Pao RR let ret 45
1044
20
l04'
103 10419
1955 J-J
95 saw
9434
95 157' 1344 136
Mut Un Tel gu ext 53-1941 M-N 103 11/44 1043 J'ne'll
104 104
1111SLELLANKOUS BON D13—Conclude41.
Ilanulncturing & Inshistrini
Manufacturing & Industrial
Cuban-Amer Sugar colltr 65'18 A.0 96
97
96
96
US Realty &Icons'deb g 55'24 J•J
1 954 97
8404 D014 00
Distil sec(Jor Cony let g
90%
4 89
91
A-0 70 Sale 764
77
43 754 80
11 11 Rubber 10-yr coil It 6:3218 J -D 1044 -Jab: 104
104,
IG I du Pout Powder 4 45_1936 .1-D 854
6 lb 103 106
86
86
4
827
6
s Steel Corp—y coup .31.1953 51•14 151,4 Sale 10419 105 4
56,
5
eien Etectrus deo
477 10334 1064
3431_1942 D'. A
92
52
J'ne'11
10-90
SL
81
rug
..
es.
yr
82
/
11/
11.3
t04,4 104% 6 10319 1064
15yr g deb 38
1017 J-1)
164 161 J'ly'1 1 ._. 145 167
93.-Car Client ist, lb-yr us 1933 2.0 9034 100
05.4 100% 10 9919 11124
Gen'l Motors let lien 6s.„19115 A-0 119 Salt
99
99
1194 West Electric 1st Se Dec 1922 J•.1
10219
Alit Paper to let coil ges.lult- F-A 1024 1044 1044 1044 45 99
10019102'.
estingho
11
uee
101
.111
&
be '31 J -J
104',
044141.6
Consol cony s I g 533
;
14a:
34 2t 91% 964
1930 J -J
84
84
84', 43 834 57
Int St Pump let ef 633
11.121) .11-S
114
934
94
3
018
Adams
6
05
Ex
cm
g45
tx
194t
si-8
Lackaw steel let st be
1923 A-0 981981110 98
91
86
1 86
86
86
98', 2
96% 99% Armour &Uo Istreal est4 4s'33, J•li
5
924 13276 92,
9219 21, 9212 113%
1st on be Series A...,105i /3481
824 81%
82
32 81 12 88,
4 nuelt Terminal let 45
1953 A-0
9314 924
6-year conver iblo 55_1915 M.r, 1133 93% 93%
112
92', 1 90
1334
934
48
Consol
90
55
96
1950 J•J
0934 Sale 9834
Nat Enam & stpg tat 103 1924- J-D
3 9419
99
4 97 100's
94.
... 944 95% Int Mere= Marine 4,23 1922 A-0 65 bale
66
N V Air ,..rake Let cony 63'28 M-14 103 San, 103
66343 41 64
8834
103% 1. 102 105
ut Navigation Islet 55 1923- J
02
Ity Steel Spgs lets 1 53 1921 J -J
03
1% 8
F..,
%
02
0
80
4J
-A
2,4 8
A,l
tig:1
y 1 1 I....
.... 78
92%
984100
Morris
&
Co
let
46-1931
s1 4
,
974 99
Repoli 11311 let& coltr 53 1934 A-0 11)2'.
603
4
92
103,
6 1'110'11
10219103
', N Y Dock 50-yr let g 48-11151 F-A
854 84 J'ite'lli
10.30 year be s
90
84
19O A-0 94 4 Sale '34',
1/4 16 1
0419 96
Pub Serv Corp NJ gen 58.1900
US -Ceuta Co 5 Web g 68_11/13
10219102', 1024 Ang'11
102 105
Wash Water Pow let 65-1931) 1
:C
3J UV%"le°,48
12Mar
1110
/
17
:
1i9
1....
:
s
1
4
--.1;No price Friday; latest bid and asked tide week. 0 Duo Feb
d Due Apr ethic May g Dne Sue A Due J'ly k DUO Aug oDue Oct p
Dee Nev —sOptien Sale
--
F
5INF
1st
W
11419.rly,i 1 _4114'811v.
a
pliJ in
CHICAGO STOCK EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKS-HIGHHST AND LOWEST SALE PRICES.
Friday
Wednesday Thursday
Monday
2'uesday.
Saturday
Aug. 11
Aug. 10
Aug. 13
Aug.8
Aug. 7
Aug. 5
Sales
of the
Week
Sheres
STOCKS
CHICAGO STOCK
EXCHANGE
Range since January 1
On basis of 100-share lots
Lowest.
Highest.
Range for Previous
Year 1910.
Lowest.
Highest.
Railroads
Mch
100 183 Jan 11 190 Apr 28 160 Oct les
Last Sale 190 Apr'll -- Chicago City Ry
190
31, Jan
112 J'iy
*185 190 *185 190 *185 190 *185
112 J'ne 16
112.1'ne 16
& Oak Park_100
Chicago
112
July'll
3
Sal,
Last
*112
71 Jan
3
3
*112
*112
3
4 J'ly
*I
23
0
Mch
16
J'ne
Do
3
pre
100
June'll
Sale
3
Last
*234 4
*234 4
*234 4
5
*3
21 J'ly 12 2934 J'ly 21
18 Chic Elev Itys corn
25
25
*24
26
26
*24
*___ 26
85 .rly 19 93 J'ly 21
Do pref
200
9152
92 *90
02 *90
00 *90
90
-1538 Sep -155 Jan
(
Apr 29 101 Aug 2 -80
et1
Rys
37
Chic
"1"
part
-If
95 ;55- -91- ;5595
95
95
30 Jan
*95 100
1114 Set)
*____ 98
2034 May13 3434 Aug 2
1,670 Chic flys part ctf "2"
*2912 30
16 Jan
8 Mar
3034 3112 3112 3134 3034 3112 3014 3012 2912 30
8 May13 1212 Aug 3
Chic Rys part ctf "3"
Aug'11
11
12
Sale
Last
*10
*912
11
12
94 Jan
May
3
*1012 1112 *10
3
712
Aug
1
Meh
412
Rys
Chic
part
ctf
--25
"4"
*6
712
714 *6
712
712 *6
614 Aug
712 *7
*6
J'ne
218
7
1
7
Mcb
11
Aug
234
100
278 1,150 Chicago Subway
312
278 3
234
3
314 314
39 Jan
318 314
20 Aug
314 314
10 25 Feb 23
Aug
16
Karts
Ry
&
City
Lt
100
100
16
16
19
*16
19
*16
19
*16
7734 lich
Feb
19
69
*16
25
Feb
7212
13
J'ne
40
pref
100
Do
10
41
*39
;55- --if
41
25 J ne
4012 *3912 4012 4012 4012 *39
16 Jan
*40
27 J'ne 30
100 1912 Feb 1
Metropol W S Elev
June'll
Last Sale 27
---72 J'ne
51 Feb
Do pref
100 65 Feb 1 7412 J'ne 30
Last Sale 7412 June'll
___
23 J ue
Apr
15
30
J'ne
2912
27
Apr
2012
rn
100
Elev
Northweste
Last Sale 2914 June'll
J'ne
May
($6
53
24
J'ne
100 60 Jan 11 63
Do pref
Last Sale 9812 June'11
7212 J'ne
80 J'ne 30
-514 J'iy
-- South Side Elevated_100 68 Jan id
Last Sale 7912 July'll
Jan
143s
7
J'ly
23
Feb
I
1314
J'ne
W
812
C
L..100
Streets
Stable
1012 *10
1012 --55
1012 1014 11)14 *10
40 J'ly 104 Jan
-;5- -11)- ;10- -1-0-1-2 *1(3
100 40 J'ne 1 50 Jan 9
Do pref
95
50
50
50
50 *49
*49
50
*45
50
*45
50
50
Miscellaneous
1358 Jan
653 J'ne
100
I Jan 10 1212 May 9
900 American Can
978
10
978 10
078
L2 Jan
1018 104 1012 10
1018 1014 10
6212 J'IY
100 7678 Jan 7 884 J ne 2
750
8314 833.1 8312 8378
8414 85
85
8138 8434 85
Apr 261 Deo
240
8412 85
9
Jan
0
263
n
Pr
Jan
etRadiator.._100
rica
o
265
re
D
An
Last Sale 265 Yeb'll
Apr
135
J'iy
126
*270 280 *270 280 .:•270 280 *270 280
29
J'iy
9
131
/deb
12812
pref
100
Do
Last Sale 131 July'll
*12814 --844 May
72 Feb
*130 -- *130 ---- *12814
-55 Amer Shipbuilding_ _A00 55 J'ly 28 79 Feb 6
56
56
____ *56 ____
112 Jan
Aug
107
*513 --- *56 -- *56
May18
100
113
11014
6
Jan
pref
Do
- 1h
Last Sale 111-J14
110
*10612 110 *10612 110 *10612 111 *10613
13434 Aug 11 15214 J'ne 12 13114 J'iy 1424 Mch
- Amer Teiep dc Teleg
-5
13472 13478 13434 13434 -18
135 135
43 Dec
31 J'ne
13512 13512 13538 13::38 *135 136
35 Apr 28 5914 &len 4
100 Booth Fisheries com
4012 4012 4012 4012 *3912 4212 4012 4012
4212 *4012 41
41 Dec
29 Aug
*40
38 J'ne 14 5734 lich 9
ctf
trust
Voting
Last Sale 4312 July'll
74 Jan
J'ne
66
20
J'ne
21
82
62
Mch
Do pref
-156
63
65
65
63 ;55- 69 ;55- -6-9- - 65
15 Feb
49 Dec
;65- 70 *85
4912 Apr 24 52 Feb 2
D_I00
&
Canal
Chic
&
Cal
5112
Sale
Last
July'll
53
*51
53
*51
53
1 Feb
*51,
53 *51
1 Feb
1
7
114
J
20
J'ly
'no
Malt'g
&
Brew'g
Chic
__
July'1 1
114
Last Sale 1
114 *1
114 *1
3 Sep
Sep
3
27
114 *1
9
Mch
J'ne
*I
312
4
53
Do pref
__
Last Sale 534 July'll
512
512 *5
47 Dec
5,2 *5
2512 J'ly
41 Jan 3 5512 Feb 23
512 *5
*5
Tool_100
Pneumatic
Chic
1:500
48
49
137 Jan
4912 4912 4912 4812 4912 4734 4834 4718 4734 4712
45 Chicago Telephone,,_ _100 115 Jan 25 12112 J'ns 21 110 Ma
123 123
bids
123 123 *123 124 *123 124 *123 124
35 Chic Title & Trust _100 15112 Jan 6 170 J'ne 9 142 Aug 163
155- -165
166 166 *160 165 *160 165
*163 165 *160 165
19 13738 fly 15 10812.1'1y 1:113 Jan
Jan
113
_100
h-Edison
Commonw't
475
133
134 13412 133 13334 130
134 134
135 135
Jan
2234
J'ly
1312
135 135
11
15
J'ne
1538
Aug
1234
corn
Co
Ref
150 Corn Prod
14
1273
*13
1234
82 Feb
1334 1334
7914 Apr
pref.-- 78 Jan 18 78 Jan 18
do
Do
Jan'll
Last Sale 78
8212 Sep 121 Jan
10512
10
J'Isr
10
Feb
9212
100
Match
Diamond
555
1(13
103
103 103
104- 104
- 155- 1-0-3-- 165- 103
21-4 0'
7
i0
210 Hart Shaffner & Marx pf.. 10114 J'ne 27 10338 Joe 2
70 Jan 20
53 -J'ly -- --ge-ti
10234 10234 10258 10258 *10212 103 *10212 10278 10212 10212 10258 10258
100 52 Aug 11
785 Illinois Brick
53
5314 52
5312 5312 53
54
48 Jan
4312 Bach
5318 5312 5314 5314 *53
41 Jan 18 5018 Aug 2
10 Masonic Temple
53
*50
53
*50
50
50
671. Dec
40 Mca
Jan
3
67
3
Melt
45
163 MeCrum-Howell Co__100
47
*4712 49
4712 4712 47
-48 -4-i3"4914 51)
4 ;Lig- 50
93 J'ne 10234 Apr
92 Ilch 3 98 Feb 2
pref
Do
Aug'11
*94
Sale
Last
96
9512
*94
96
96
*94
95
*93
100 11714 Jan 17 140 Apr 7 101 Aug 119 Deo
Last Sale 133 Aug'11 ---- National Biscuit
*132 134 *132 134 *132 134 *132 134
100 123 Jan 3 130 Mch31 118 J'ly 125 Jan
Do pref
--io
12812 12812
*128 129 *128 129 *128 129 *128 130
100 11.1 Aug 8 120 Mch 14 104 Feb 145 Oct
Carbon
National
10
110
111 111 *___ Ill *107 110 *i5i
*111 113 *111 112
100 118 Jan 13 120 Mch 23 112 Feb 123 Nov
pref
Do
Last Sale 11812 July'll
Jan
*11514 11714 *11514 11714 *11514 11714 *11512 119
People's Gas LecCoke_100 10318 Apr 8 108g Jan 19 103 J'iy 11534
10412 10514 10434 10434 10434 10514 -910 Sears-Roebuck
10438 10438 10112 10434 10412 105
c13612 Ma'26 19234 Jan 31 143 Feb 18634 Nov
corn...100
2.225
1
13834 13978 13712 13812 13712 138 2
140 140
13312 140
140 140
Mch 11 11612 Aug 122 Mch
122
11
Jan
110
100
pref
Do
Last Sale 12012 Aug'11
*120 121 *120 121 *120 121 *120 121
100 10018 Mch 13 101 .1 no 5 1110 Dec 10958 Jan
10212 1,1"i12 Swift & Co
Feb
10218 10238 10212 10212 10212 10212 10214 10214 102 10214 10134 Aug'11
The Quaker Oats Co 100 165 Mch 7 193 J'ne 29 155 J'ly 186
Last Sale 190
*186 190 *186 190 *186 190 *186 190
10212 Feb 1 10713 J'ly 21 1U1 J'ly 105 Jan
100
Do pref
75
107 107
1538Jan
514 Apr
107 107 *107 10818 107 107 *107 108
7 Jan 3
Aug 10
P
Co_100
lid
&
214
Box
Unit
285
212
214
258
212
258 218
258 258
258 258
7214 Jan 3 814 Feb 6
2.875 United States Steel com_
12 74
..
7334 -'72
2638Deo
15 J'ne
7438 7514 7312 7518 7334 7478 7212 Sale
7378 75
100 1912 Apr 12 23 Jan 27
July'll -- Western Stone
20
Last
21
*19
21
2012 *19
*19
*1912 21
es.
shar
10
than
of
less
tions
Note.-01 tidal sheet Is o longer ren orts transac
Chicago Banks and Trust Companies
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Aug. 11.
Interest
Period
Pries
Friday
Aug. 11
Week's
Rang: or
Last Sale
Li'ds
Sold
Range
for
Year 1911
NAME
Outstandmg
Stock
(1)
Surplus
and
Profits
(T)
Dividend Record
In Per- Last Paid,
%
1910 fed.
----6
'11.
Jan
An
6
6
649,380
$100,000
National
Calumet
High
High No. Low
Ask Low
Bit
J-J July '11, 5
10
271,322 10
500,000
1001 2 Jan'l 1 __ 10012 10012 Chicago City
____ Q-1 July '11, 212
Amer Strawb'd 1st 6s 1911 1, - A .._
____
9 9238 9338 Contrtal & Comm Nat_ y20000000 10,285,337
9258
9252
July '11, 4
Q-J
16
12
Armour & Co 4 sis_ 1939 J • I):9232 Salo
5,036,273
3,000,000
National
Corn Exchange
Niel-I'll .- 9018 100
100
Booth Fish Co Deb G 5s'17 J - J
31 Beg. b us May 31'1 1.V.92,p1538
200,000
Douglas State
90 100
alch'll
Q-J July '11. 112
8
1924 J - J -------- 100
9
Deb g 55
41,198
200,000
State
Drexel
99
9812 Apr'll ___ 0818
Q-J July '11, 212
10
Sink Fd Deb es tr rco __ A - 0
443,233 10
600.000
Drovers' Dep National..
Q-J July 'II, 134
6
6
Calumet ea South Chicago
51,046
200,000
9914 9914 Englewood State
9914 July'll
12s Q-M me 30'11,3u
1927 P - A 2 9878 09
128
By 1st 5s
11,276,436
10,000,000
National
First
Jue 30'11,212
Q-M
10
10
Cass Av & t.' U (St L) 5s '12 J - 3 ___ .___ 101(4 Oet.'09 ____ ___ ____ First Nat Englewood
191,217
150,000
100 May'07
Chic Board ot 'Yrade 481927 .1 - I)
563,470 Priv ate Ba nk
10278 28 1024 10278 Foreman Bros Irk'g Co_ 1,000,000
July '11, 2
Q-3
8
8
Chicago City Ity 53_1927 P - A 110234 kial-o- 10234
616,188
2,000,000
National
Dearborn
Fort
8+2 Q-J July '11, 2
8
Chic Consist Br & Mit as,.... J - J
1,053,878
Apr'09 --- __-- -- Hibernian /3'k'g Ass'n_ 1,500.000
ao
10 10+15 J-J July '11, 5
Chic Consol 'Frac 4 kis 1939 J - D __ ____
193.557
200,000
Bank__
State
Kaspar
___
___
9634 Jan'06 _--Chic Auditorium Ist5s1929 P - A ____ ____
3,150 Beg. b us Apr 8'11 V.92,p.1004,
200,000
____ 9814 9978 Lake View State
Chicago Elev Ry 5s 1914 J - J 5 9814 9812 9838 Aug'11 ---257,031 Beg. b us. Ma y'10 V.90, p.1277
----- La Salle St National__ 1,000.000
U412 DCW09
____ ____
10 Q-31 inc 30'11,212
546,108 10
1,250,000
Uttio Jc 1811) 1st st g 53_1r145 kl Nat
Excirge
Stock
Live
Fete06
87
Q- A..6 11, I
4
4
60,841
300,000
Ohio No Shore Elec 68.1912 A - 0
Monroe National
91
8714
3
89
89
S113
89
J
J
5s_a1921
Q4 ine33'11, 2
1st
8
8
Chic Pile root
2,000,000 1,313,977
Nat Bank of Republic
100
82 0738 100
9978
1927 I, - A 9972 Sale
Q-J July '11, 112
6
6
494,341
Chic Ry 55
2,000,000
City
National
0514 9514 Aug'11 __-_ 9318 9514
4 (4-3 miy '11. 112
3
90,390
Chic Rya 4-5s series "A" A - 0 2 95
250,000
8834
8834 27 8218 8912 National Produce
534
634 Q4 July '11. 134
74,633
Chlo itys 4-5s series "13" J - I) 2 8838 Sale
200,000
North Avenue State
90
90 July'll ___ 90
92
1 - A 5 90
Q-J July '11, 112
6
6
)
34,29
ChM itys 4-53 series "C' ,
50,000
Say'gs
State
Stile
2 1)958 10078 North
10034
1 0078 10034
Q-J July '11. 114
4
___
30,403
Chic lays coil 6s-1913 fo - A -----200,000
West State
100
North
100
__
Jaren
--101
A
I,
6s....1913
Q4 July '11, 212
7
115,137 _..
Chic ltys Fund
300,000
People's Stk Yds State43 9778 100
100
9978
5 9973 Sale
July '11, 112
Q-M
6
6
62,711
Chic Rys Tem Ctfs 1st 58
500,000
State
6a12 Aug'08 ____ ___ __ Prairie
N
51
4s..-2002
Q-J July '11, 112
434
RR
134
P
&
I
It
221,092
Chic
300,000
__ Security
8612 July'Or, ___
73.4 Q4 July '11, 2
6
04,500
Coliat trust g 5s_ _1913 It - 3 -------- 1034
200,000
SavingsChicago
10312
South
102
_-_
Aug'11
Q-J July '11, 112
6
134
12,782
Chic Telephone 5s_ -1923 J - D 2103 10312
200,000
1034 11 101)12 10318 South Side State
Q-J July '11. 3
12
Commonw-Edison 52.1943 11 - 3 103 Sale 103
State Bank of Chicago.. 1,500,000 1,965,670 12
Nov'10 -__
8 Q-M Jne 3011,2
8
Chic Edison deb Gs_1913 J - .1 -------- 10078
196,488
250,000
Sayings
Yards
Stock
100
100
._Feb'll
100
6 11-N May '11, 3
6
49,854
1st g 5s_ -_July 1926 A - 0 --__ 10058 Atig'09 -__ ---- Union Bank of Chicago_
y200,000
Debenture 5s......._1920 11 - S
8,494 See V. 90, p. 159
100,000
3 10014 10234 Washington Park Nat'l
10234
10314 10234
Commonw Elect 501943 11 - S 210234
13,275 None None Q-M Dec31'08.112
50,000
1 10314 10734 Wendell State
10678
7 Sal
0672
7
977,674
734 Q-3 July '11, 2
2,000,000
Dia Match Con db 8s__1920
111..
01
-------- -80 -Dee'08 _.-- ____ ---- Central Trust Co
Q-J July '11, 112
6
8
224,478
1111nols 'runnel 39.___1323 .1 - 0 ---1,000,000
Chicago Say Bk & Tr
6
Kan City fly es Light
754 Q-J July '11, 2
11,810,1,42
5,000,000
43
Trust
Title
Chicago
9734
0032
9734 May'll ___
1913 il - N....... ...._
Q-J July '11. 212
6
4
12,104
Co Ss
50,000
Citizens Trust eo Savings
100 May'll ____ 9734 100
Knick'b'ker Ice 1st as 19211 A - 0 -475,687 8+2 8+2 Q-J July '11, 212
600,000
8912 Colonial Trust & Saving
8912 July'll.- 77
.
734,540
Lake St El-Ist 58-.1928 J . J 5 85__ _89
3,000,000
Tr
&
Say
Comm
&
Coat
16 5Iay'05
1925 Feb
Q-J July '11, 2
8
8
Income 5s
200,000
140,926
Drovers'Trust&Sayings
Q-J J ly '11, 112
6
3
239,419
Metr W Side 18I1,600,000
8612
8658 10 8218 8634 Farwell Trust Co
86511 Sale
1033 10 - A
Jne 30'11.4
Q-M
12
16
1st 43
3,648,6904
2,500,000
Savings
&
Trust
2 7818 8278 First
8258
8212 Salo
8212
11 V.92, p.929
3'
us.Apr
b
Beg.
Extension g 4s____1938 J - J
3,057
250,000
Bk
12 Sal
91 July'll 15 9034 9154 Ft.Dearborn TreoSay
Incorp orated 1908 V.87,p.1138
Morris & Co. 4 ls____1939 I • .1 ----200,000
29,470
Say_
&
Trust
Guarantee
100
9618
-100 July'll --._
934 11+5 Q-J July '11, 3
North West El 1st 48_1911 DI - S
Harris Trust & Savings_ r1,250,000 1,918,434
52.427 Beg. b us Apr 10'1 1V.92,p.1004
Northwestern Gas Light &
300,000
9912 100
Home Bank & Trust
9934 Aug'11
1928 Q - M
q ..1.11y '11, 4
16+4
16+4
8,850,823
Coke Co 53
5,000,000
Sayings
&
Trust
Illinois
9414
92
1
9334
9334
1947, 0 - N:9334 Sale
6U 7+1% Q-J July '11, 134
Ogden Gas 95
62,030
200,000
Kenvvood Trust & Savgs
1064
....---hicti'09
--'2
July '11, 112
98
13
1
1019
5s
Q4
ft
5
534
Pearsons-Ta
49,680
200,000
Al - S 95
___ 9612 Melt'10 ---- ---- -- Lake View Trust &Savgs
Q-3 July '11, 4
12
4.403
Co 3,000,000 6,273,210 12
Ni - N
96 ...._ 97
Feh'10 __-- --- --- Merchants' Loan&Tr
Jne30'11,112
Q-J
6
6
4.00s Series E
248,857
750,000
&Say
1181s Isfeh'10 ____ ___. --- MetropolltanTrust
)1 - N
9712 _ _ _ _
4,803 Series P
60,057 Beg, b us. Oct 29'1 0V91,p.1221
200,000
Michigan Ave Tr Co_.
121371 May'99
. A -0
Ap r10' 11V92 p1004
Corn,
us.
b
58,372
Pet) Gas L & 0 1st 68_1943 11500,000
BkSay
68
Tr
h 510212 10278 10234 July'11 .- 10134 10234 Mid-City
Refunding g 58_11147
8
8 ,Q-J Jne30'11, 2
10312 Northern Trust Co_ __ - 1,500,000 2,507,084
6
J-J July 'II, 4'
6
Chic Gas L&C 1st 561937 J - J 2103 10312 10338 July'll .._ 10272 102
77.298
North-Western Tr&Say x200,000
Consum Gas 1st 58_1936 J - I) ' 1021 102 July'll ..- 10112
I'll V.92.p.1537.
us
J'ne
b
Beg.
5,657
200,000
Bank
Say
&
Tr
Old Colony
&NCI Fuel Gas lst5s1947 3.1 - N ----- -- 101)3 July'll ....... 10112 10158 People's
600,000
137,535 Beg. b ua.Dec 1'10 V. 02, p. 90
& Say Bk
Tr
93
9512
J
8
951
4
J
8
Sale
955
343-1924
4
9513
Eley
Q-J June30'11, 2
Routh Side
8
8
259.672
300,000
1 100 111178 Pullman Trust 6c Sans_
10058
10058
3wItt & Co 1st g 58-1014 .1 - J 210012 101
200,000
25,979 Beg, b us. J'ly 12,09 V.89,88.141
Aprim ____ _., ...... Sheridan Tr & Say Bank 1,000,000
Union El (Loop) 51_1943 A - 0 __-- ---- 88
284,858 Comm weed bus. Sept 8 1910
Savings_
&
Tr
Standard
-70
----_____
Apr'10
68'26
col
5
United Box Board
634 J-.1 July '11,3
43,462
200.000
Stockmen's Trust la Say
.1 - .1 --- --- 6() lich'll .. 56 60
General mtge 61
1,200,000 1,229,389 18+2 *8+2 Q-11 Jne30'11,21
Union Trust Co
3 10034 103
10258
Western Elec Co 51_1922 I - J 10258 Sale 10252
Q4 July '11, 112
6
6
203,658
West'n Trust & Sayings 1,250,000
6 Q-M July '11, 2
112,071 __
200,000
West Side Tr&SayBank
C1-I Tilly'11 21.
71.‘
a
R1
1
Re
Note,,-Accrued Interest must be added to all Chicago b ond prices
200.000
lt
Wnnfilmtan TrA•NAvRAl
and June 8 (opening of business) for State institutions. I 2C8
banks
for
national
business)
of
ose
(c
7
June
day.
this
on
made
were
sales
no
• Bid and asked prices;
stock. q Dividends are paid Q4, with extra payDue June. c Ex-stock dividend of 33 1-3%. k Also 20% incame
price Friday; latest Klee this week. a Due Dec. 31. bV.
from First Trust & Savings Bank. tJunegl
92, p. 1811. $ In addition, the equivalent of 4% more
81,500,000.
ments Q-F. r Capital to be increased to
V. 93, p. 142. to March 31191L a Proposal
$500,000
to
Capital
increased
y
Bank.
&
Savings
from
Trust
First
1%
came
of
1911. it In addition, the equivalent
Hibernia Banking AWN. Y. 93, D. 17. 323.
of
control
acquire
to
V. 92, p. 1352. y Capital to be increased to $21,500.000
,to Increase capital to $250,000 ratified, July
1911.
¶ Also paid an extra dividend of 2% in
In
1909
BOSTON STOCK EXCHANGE -Stock Record, Daily, Weekly and Yearl
y
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
Aug.5
Monday
Aug.7
Tuesday
Aug.8
Wednesday
Aug.9
Thursday
Aug. 10
Friday
Aug. 11
Sales
of ;Ile
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range since January 1.
On basis of 100-share lots.
Lowest.
Highest.
Range for Previous
Year (1910).
Lowest.
Highest.
Railroads
10533 10538 10412 106
216 Atch Top & Santa Fe 100 1024 Jan 5 11614 J'ne b
0112 PIT 12318.a/in
10212 10212 *103
10334
10
Do pref
100 10118 Jan 3 105 J'ne
c712 Aug 10414 Jen
22114 22114 *221
22114
62 Boston & Albany__ _100 219 Apr 21 226 Feb 20
15 218 Inc 234 .'an
12612 127
1284 12613
377 Boston Elevated
100 1262 Aug 10 13012 Aug 1 x122 Aug 1363 Jan
217 217 *217
12 Boston & Lowell
218
100 207 Feb 1 217 J'ne 21 200 J'ly 227 4 Feb
104 1054 104
105
393 Boston & Maine
100 101 MaY10 12238 Fob 15 . 118 Dec 152 Feb
Last Sale 299 July'll ____ Boston & Providence_I00
292 bleh 21 300 Mch 6 285 Oct 300 Nov
1.4.41 Sale 134 Aug'11 ____ Boston Suburban El
Cos_
13 J'11(.120 10 Mch 15
14 Inc
1618 Nov
.3t Sale 7018 Aug'11
Do pref
72 Jan 6 7614 J'ne 21
70 J'ly
76 Apr
Last Sale 12
July'll :-_-_-_ Boo
nton espre
lyoro Elec Cos_
6 Feb 15 13 J'ly 13
8 Mob
1012 Sep
Last Sale 52
Aug'11
381
2
Jan
3
54
J'ly
1
35 Aug 48 .an
164 165
165
165
-3
.E0-3 Chic Juno Ry & USY..100 156 Apr 29 165 Aug 3 139
Sep 160 Dec
114 114
_
__
127
Do pref
107 /deb 17 115123'1y 25 109 Oct 118 Jan
Last Sale 272-Jul-y-'11
C°nenhebcu
tiou
g
r.tR
elver
Jan
265
31
_100
272
J'ne
6 260 Oct 270 Mob
127 127
127
127
Flt
-28i
pr
Apr
130 Jan 4 12414 Sep 13312 Jan
Last Sale 157/3 July'll ___ GaDR
o y &rE
,41) etlectrto..__..... 115712
gi 15712 Fly 27 104 l3.11 123 Oct
Last Sale 23
July'll
Feb 20 0312 J'ne
100
85 Apr
90 Oct
Last Sale 4140 July'll --_-_-_ Maine central
018
1
40:
215 Jan 18 202 Feu 218 Dec
2013 2034 *20 2013 -725 Mass E eotrIc Cos
l
3
A
'
pYr 20
5 24 J'ne 3
19
09
0
1414 J'ly
2118 Nov
91
*9012 91
91
50
Do pret
100 8334 Jan 9 9518 J'ly 16
75 .1'13(
8834 Nov
135 13512 135
13572 1,670 N Y N H & Hartford_100
135 Aug 10 15138 Feb 23 149 Apr 16438 hlen
Last Sale 142 July'll ____ Northern
NH
Jan
142 Mch 6 139 Dec 141 Deo
*Hi- 2:: *iii- -_-_-_-_ 4i12
- -_-_-_-_ *ill --;-_
Last Sale 212 July'll
Norwich es Wor prefiSS '11ii(j)
n2
.
1 t 213 fly 14 210 61317 212 Men
*1874 ____ *18712 -- *1874 _ _ 188 118 *18712
__ 188
188
--ii Old Colony
189
Jan 3 18114 Set) 200 Jan
100
183
Mob
*37
15
40 *37
3-6- *37
40
38
40 *37
40
2 Rutland pref
*110 11012 1104 11018 11012 11011 111 111 *11012
100 32 Jan 26 43 Feb 21
25 AloY
4412 Nov
11113
160 Seattle Electric
11114
100 1052 Apr 18 112 Feb 27 103 Aug 116 Jan
*103 ___ 103 103
103 10414 10312 10312 *103 __ :112
21
Do pref
2441,1 Mch13 103' • Aug 9
9834 Atm 106 Men
100
18078 18134 18112 18218 18014 18154 17812 13114 178 178
17334 1-7-7-58
Union
2,248
*93
171
Jan
94 .9313 94
PacIlle
19218
3
J'ly
J13r
100
22
20412
*93
15314
9312 *9112 9212
Jail
Last Sale 95
July'll .._
Do prof
100 90 Mob 0 9518 May12
8914 J'ly 10338 Jan
*163 ___ *163 ____ 4183
__ *163
Last Sale 164 June'll
Vermont & 51ass
100 158 Mob 21 164 J'ne 16 154 Oct 168 Jan
*88
89, *8814 89
8812 0812 8834 -90- 89
891'4 89
-.i'i
89
West
50
End
87
J'ly
St
1/3
11
Men
22
Sep
83
10258 10258 10258 10258 *-- 10212 *____ 103 *__ 10212 10238 10238
9512 MO
19 Do pref
50 10112 J'ly 20 105 Jan 10
09 J'IY 109 Feu
Miscellaneous
51313 57
*57
58
5612 5634 5612 5612 5512 5614 5613 5658
645
Amer
4612
Jan
AgrIcul
3
6012
Chem_
_100
Itlay18
36 J'/Y
10414 10414 *10334 10418 10378 10418 10334 104 *____ 104
4912 Oct
10312 10373
57
D' pref
9813 Deo 105 Sep
100 9:1 Jan 6 1051 4 Arch 1
*412 434
412 412 *412 434
412 413
412 412
433
412
824 Amer Pneu Service_ 50
438 Aug 11
612 Jan 20
4 Dec
*15
84 Feb
1514 16
15
15
15
15
15/4 1518 1518 1412 /412
468
Do
pref
Jan
14
3
5
1014
Jan
Deo
1334
31
50
117 118 *11713 11813 117 117
24 Feb
1164 11638 11533 11612 11512 116
508 Amer Sugar Relln_100 11334 Jan
122 Feb 27 III Oct 12733 Mch
11713 117 117
117 11738 11714 11714 1154 117
118
11013
236
Do pref
100
1204 Mav19 11134 Oct 124 hatch
13514 13513 135 13513 13478 13534 135 13514 13413 13513
134/3 1344 11,756 Amer Telep & Teleg_100 1:14
1 42j
Aaung 1 1534 J'ne 8 12714 J'1Y 14378 Nov
-_-_ __Last Sale 32
July'll
Amer:can Woolen__ _100 31 Jan 4 36.4 Meh 20
26J'ly
3912 hi eh
- -515f2 00-34
-615i3 If- -6(14 -9078
- 9033 91
90
90
Do pref
9034 90
100 z86 Mel)20 0612 J'ne 15
9012 Dee 10414 Mob
1012 1012 *10
1012 10
10
*912 1012 *912 1012
_
_
11 Atl Gulf & W I SS L.100
7 - Mcb
814 Jan 17 11 Mal 29
20
20
1918 1918 1913 1912 1913 1912 19
1112.1an
19
-1913 19-13
793
Do pref
I00 19 J'ly 21 26 Jan 31
16 May
28 .Jan
_
Last Sale 7
Boston Land
512 Jan 13
10
814 Apr 20
812 JAR
412 3'1Y
*15712 --- *15-753 1-5.7-1-2 4.-liii,2 1-5-7-1-2 iW753 1-5-74 15633 15638 16614July'll -716 Cumb
Telep
15614
&
Teieg_100 14514 Jan 10 15912 J'ne 15 1381; J'IY 15312 Cell
*11
1112 *11
1118 1114 1114 1034 1114 1012 1012
1/12 11
825 East Boston Laud
714 Jan 13 12 hlav 1
713 An,.
*9312 ____ 04
9412 9414 9414 944 9412 95
:411
1153
95
85
630 Eastern Steamship.„100 7878 Feb 3 (5 Aug 10
90
286 287
286 286
70 J'ly
86 Oct
288 238
288 237
237 287
286
68 Edison Elee Ilium__ 100 52704 J'ly 14 29213 Feb 3 5236
287
155 156
15513 1511
da
29212
Nov
15514 108
15414 155
132 15238 18.313 15313
945 General Electric
100 514513 51ch 3 16734 May29 135 J'ly 10013 ..a n
96
96
9531 9534 9534 95'34 9514 9512 9434 9514 94
9414 1,327 Massachusetts Gas Cos100 8734 Jan 3 9834 Aug 3
7614 Feb
*97
9734 9714 9712 9734 9734
9138
Nov
973
4
973
4 9712 9734 9712 9712
Do prof
90
80 Slay
100 9413 J'ne27 98 11c1125
231 231
97 Men
2'34 235
234 234
23213 234
23213 234
_
185 'Mergenthaler Lino
211 Jan 4 235 Aug 3 21212 Dee 226 Nog
44
434 *4
*4
43
434 *4
434
Last Sale 4---- Jul-y-'ll ___ Mexican Telephone....100
3/3 Mch 20
478 Jan 31
234 Jan
10
*112 114 */12 114 *112 114 *112 114
634 May
Last
Sale
113
July'll
N
E Cotton Yarn
*109 111 *109 111 *109 110
100 110 Jan 3 119 Meh 14 107 Sep 124 Jan
110 110 *109 111 *109
111
--ii) Do pref
100 103 Jan 3 11613 Men 1,, 9913 Aug 115 Jan
148 149
14734 14812 148 14812 150 150
14734 14734 14612 14712
382 N E Telephone •
137
Jan
14 150.2 J'ne
121)12 Aug 13834 Dec
100
4105 ___ *105 __ *10.5 ____ *105
Last Sale 10112 July'll
Pacific Coast Power_ _100 1.16 Jan 9 105 J'ne28
9314 Nov 100 Jan
6412 6412 6412 65
*65
___ 8112 -6-5-- 6413 6413 ____
____ "io6 Portland (Me) Elec_ _100 6234 ,Ple 29 65 Aug 7
159 160
15913 160
159 1-5912 159 15912 158 15912
91 Pullman Co
158
hIch 0 103 Jan 30 163 J'ne 2011 Feb
100
_
Last Sale 14--- Au-siii
_ Reeoe Button-Hole_ 10 z12 Jan 6 lb May 1
1114 Jan
14 Oct
102 10214 102 10212 joi..1-3 102-14 ioi" 102-88 102 10238 10158 102
1-A9 Swift & Co
100 100 Jan 26 104 J'uo 5 100 Jan 10934 Jan
*31
32
3114 3114 3114 3114 *31
3114 31
31
31
31
173 Torrington
28 Meli
25 30 Feb 1 36 Jan 3
*29
37
30 *29
Dec
30 *29
30
*29
30
29
29
*29
13
Do pref
30
27 Jan
25 27 Meh 23 31 J'ly 17
31 May
190 190
188 18913 18812 189
188 182 188 188
187
188
984 United Fruit
100 180 Mch 13 19712 J'ly 15 16512 Jan 200 Sep
46
46
4612 4514 48
46
45
4212 4312 4214 43
43
7,019 Un Shoe Mach Corp..
5878 Feb 18
4C34
*2714 28
7134 Apr
2712 2712 28
*2712 28
28
2712 2778
123
Do pref
rn 2914 Jan 31
N .2?1'43:Nilt
2514
31 Jan
74
7518 7414 7512 7358 7.558 7314 75
7212 73138 -7238 -7-4-- 39,428 U S Steel Corp
6138"Y
%Ply
100 7138 Jan 3 8218 Feb 6
9034 Jan
11812 11624 11834 11714 11653 11738 11613 117
11634 117
11833 117
548
Do
pref
100 11638 Aug 11 12012 Feb 2 Ill J'IY 12558 Jan
419
20
19
11112 20
19
1914 1914 *1812 1912 *19
1912
275 West Telep & Teleg_100 1612 Jan 17 2314 Feb 6
14 Feb
*9813 100 *9613 100
1034 Sep
*9613 100
*9612 100
9812 9612 *9813 100
4
Do pref
100 89 Jan 23 100 J'ly 28
81 Aug
04 Jan
*6
7
6i2 7
6
104 4.134 313
6
158 : 4:
__8__
3f332 Igeru
na
tuhr6
I
ii
i
l
i
718
J'ne
i
ci
l
:
16
a
n
J'ly
J1111'!1
412
4
10 Feb
814 814 *734
734 734
11 J'ne 13
734 Dee
25
11
1434. Sep
*29
*28
31
2912 *29
29
*28
29
28
28 *-_
20
80
25 28 Aug 10 39 Jan 4
31 J'IY
58 Feb
6234 6313 6312 6412 03
6412 8234 8438 8153 634 6238 6314 13,973 Amalgamated Copper 100 1934 Apr 113 7158 J'ue 19
2753 2738 28
0034 Jan
5514
"
28
17
28
28
2712 2734, 2612 2714 26
2634 1,915 Am Zinc Lead es Sm. 25 23 Jan 27 3058 J'ne
101
4012 Jan
1334 1334 14
1414 1414 1414 1312 1414' 1278 13
1214 1234 2,155 Arizona Commercial_ 25 1134 Apr 24 1838 J'ne 14
2"Y
Ma) 6034 Jan
124
4.50
.70*.50
.70 *.50
.70 4.50
.70 • Last Sale .50 Aug'11
Bonanza Des' Co
10 .50 Jan 5 .75 May22 .50 Meh .70 Itch
1112 12 *1113 12 *1114 12 *11
1113 11
1112 10
1034
Augli
Bos&Cor
-SW)
1512 Mav27
bCop esSilMg
5 10
10 WY
412 5 • 412 413 *414 412
2414 Jan
414 414
4
4
34
378
510 Butte-Balaklava Cop_ 10
378 Aug 11
612 Jan 14
412 Nov
1712 1734 17
1814 May
1712 17
1714 1714 1714 1612 17
1714 1714 1,010 Butte Coalition
15 1618 Apr 24 2012 May24
155; Jzye
2813 Jan
51
55
54
5512 54
5534 54
55
52
53
5112 5314 3,081 Calumet es Arizona
10 46 Jan 19 63 J'ne 6
440 440
436 440
4434 J'ly 103 Jan
425 440
415 425
410 420
403
410
208 Calumet & Heels
25 403 Aug 11 545 Jau 4 509 J'ly 68,- Jan
*10
12 *10
12
11
11
10
10
*9
11
*9
1115 Centennial
25 10 Aug 9 1512 Jan 4
131 J'ly
4.07
38 Jan
.08 *.07:
.08 *.07
.08 4.07
.08
Last Sale .07
Aug'11
.05
Cons Mercur Gold..
Jan 6 .15 J'ne 1
I
.04 3'13( .16 Jan
59
6912 5914 5934 5814 5812 5812 5812 57
57
5434 5714 1,„
'
3P Copper Range Con Co 100 5434 A11811 6034 Feb 1
58 Feu
85 Jan
*512 6
534 531
5
533 533 *5
DaI y-West
512
512 512
3
Feb
5
3
8
240
613
8
20
J'ne
21
312 Sep
03 Arch
13
1314 1313 1314 1314 1358 13
1312 12.34 1318 1212 1278 3,156 East Butte Cop Min
APr 22
10,
1013 Jan
614 J'ly
..n. 1434 J'ne24
14 Nov
10
1012 1034 11:1•34 1012 1012 *10
1013 1914 1014 1014 1034
14 J'ne
470 Franklin
25
,
9 Dec
2212 Mch
5125 13-16 59-16
534
512 534
534 534 53.10 11-16
512
518 Feb 6
512 1,995 Giroux Consolidated_ 5 Vis Aug to
6 J'ly
1:.12 Jan
32
33
33
3334 33
3334 34
34
32
33
3012 3112
520 Granby Consolidated_100 30 Jan 26 4313 J'no 21
20 J'1y 11114 Jan
878 678
678 7
7
7
7
7
634 6534
:,38 Nell 111
65s
634 1,875 Creene Ca.nanea
778 J'ue 19
633 Sep
20
1178 Jan
2412 2434 24
24
24
24
24
24
23
24
23
2312
18
Jan
838
24
Hancock
3014 J'ne 19
Consolidated 25
1434 J'1Y
*1
311 Jan
14
1
1
*1
118 *1
114
1
1
1
1
180 Helvetia Copper
2 Feb 4
25 .09 Apr 22
134 Oct
578 Jan
12
1212 124 1212 12
12
12
12
1114 1112 11
11
750 Indiana Mining
25 1034 Apr 24 16 J'ne 2
10 J'IY
4434 Mch
• 734 8 7 11-16 778
734 734
712 734 714 79.10
738
Inspirati
738 1,450
on Copper_ __10
934 Nlay27
714 Aug 10
3734 3744 38
3812 3712 3812 37
37
3614 37
1,150 Island Creek Coal
3'7
37
4038 J'no 1.
1 '014 t1eaty !,i.
3034 Dec
8712 8734 88
8834 88
88
88
8812 *8734 8813
293
Do pref
91 J'ne
8414 Nov 90 Nov
18
1534 1534 *15
16
15
1514 *1413 1518 -L-1- -1-4345 Isle Royale Copper
25 1213 Apr 8 1913 3'14013
1312 Mal
2812 Jan
5
5 1 15-16 5 4 15-16 6 4 16-18 5
473 478 4 13-18 13-16
915 Kerr Lake
_1 p.
5 41311
tatitgy p
778 Jan 21
tj Sep
11 Jan
212 213
212 212
212 212
212 212
212 212
214
214
230 Keweenaw Copper_ _ 25
334 J'ne 15
3 J'ly
a
634 Jan
33
3312 33
3314 33
3312 3212 33
3012 32
3()
25 2612 Apr 22 40 J'ne 13
3114 3,489 Lake Copper Co
2812
0413
Jan
XII
,
*312 4
334 334
334 *
1
312 312
366 La Salle Copper
312 312 *3
25
32 May 5
6 Jan 3
• 04 Dec
11) Jan
812 812
812 812 *814 _ _ - *814 - -- *814 834 ------100 Mason Valley Mines_ _5
1014
Mav211
612 Apr 24
734 8
734 8
*712 814 *712 -814
712
712 734
734 485 Mass Consol
25
5 May10 610 J'ne 19
412 'Wei; l°5s Oct
*114 334
114 114
114 138
114
114
118 118 11.15 1 1-18
900 Mayflower
3 MaY18 ,35 Oct
25 .20 Feb 18
re Jan
2012 21
*214 211. *2012 2114 *2012 2112 2012 2012 1912 1938
850 Miami Copper
5 1814 Apr 6 2278 ene21
29 Jan
17
J'IY
42
212
24 214 *2
212
2
*218 212 *24
2
213
80 Michigan
Deo
312
Jan
813
Apr
4
7
314
13
25
4
Jan
44514 48
45
4514 45
45
45 *43
45
45 *43
52 Mohawk
45
Apr 18 53 J'ne 15
75 Jan
43 J'IY
1712 18
1758 1753 1778 18
1778 174 1733 1713 1738 1712 1,038 Nevada Consolidated. 25 36
1738 Apr 24 2114 J'ne 15
2712 Jan
5
1758
XIV
*213 3
*234 3
*234 3
*234 3
234 234
278
110 New Arcadian Copper 25
273
312 J'iy
414 Aur 28
214 Apr 24
1058 Jan
838 812
838 838 4838 812
814 838 tillt 8 7-18
814
814
NopishsinButtelnes
720 Ni
l
5
718 J'ly 24 1138 Feb 17
934 Jan
12 May
3034 3034 31
3114 3038 31
3012 31
2918 3012 2812 2934 6,428
J'ne
11
15 2612 Apr 24 3614 J'no
18
50
elan
7
634 7
7
612 612 *13
7
634 634
612
612
25
614 Dec
458 Apr 22
255 North Lake
2578 Mch
514 514
934 J'ne 11
514 514
514 512 *514 6
5
514
5
5
25
435 011bway Mining
5 Jan 17
5 Set,
1234 Jan
812 J'ne 6
214 214 *218 212 *218 214 *218 238
2
218 *178
2
25 .50 Jan 5
400 0 d Colony
318 J'ly 10 .25 Aug
134 Feb
4312 4313 43
44
*4212 44
4213 4212 *4012 4213 41
41
2912 Inc
480 Old Dominion Co___ _ 25 35 Apr 22 49 J'ne 13
5., Jan
*97
98
*97
08
08
9412 0812 95
98 *9812 98
95
89 Osceola
25 9412 Aug 10 124 Jan 3 114 J'ly 166 Jan
*11
12
1112 1112 *1112 1212 *1114 12 *11
12
1112 1112
15 Parrot Silver & Cop_ 10 11 Jan 26 13 May22
11 Dec
2134 Jan
70
70 *08
65
70 *67
*67
63
65
69
2 'uincy
60 J'ly
25 65 Jan 25 74 J'ne21
92 Mch
16
1658 1578
1534 1614 16
16
15
15.14 15
1514
830 Ray Consol Copper_ 10 15 Aug10 1858 Jan 4
1514 J'ly
*113 158 *118 1614
2434
Mch
112 4113 112 *118
312 *118 112
118
100 Santa Fe Gold & Cop_ 10
118
114 Nov
34 Apr 26
134 J'no 10
10
234 Jan
10
10
10
10
1.0
1014
1018 1013' 10
934 10
1,005 Shannon
834 J'ly
934 Apr 11 12.4 Feb 2
10
4.70
18 Jan
.90 4..70
.90
.75
.75
South
Utah
M 436 S
100
1 Dee
5 .70 J'ne 29 Pts Slay 18
*2712 29 *23
334 Jan
30 iii
. -285-2 27
28
-ii 27
- -24"
315 Superior
36 J'ly
25 20 Aug 11 4212 Jan 3
5
8814 Jan
514
514 514
514 514
514 514
478 5
434
458 Dec
478 1,055 Sunerlor es lioston Min 10 21510 Apr 7
814 J'ne 15
18
*33
35 *30
Jan
35 *__ 33 *30 • 35
30
30
5
Tamarack
80
25 30 Augll 52 Jan 3
4513 J'ne
44
414
78 Jan
4
4
*334 4
378 4
334
334
840 Trinity
334 4
25
313 Apr 22
5 Jan 3
413 Dec
1138 Jan
3613 36
3512 3614 *36
38
3412 36
34
35
34
8414 2,8.54 U S Smelt Ref & Min. 50 3314 Apr 7 404 J'ne 14
30 Dec
48
48
55 .1:•.n
4734 48
48
48
4734 4734 4713 48
4758 4758
869
D • pref
50 4512 Apr 4 4912 J'ne 26
4034 J'IY
*26
27
3 *234 3
5318 Jaa
2
78
234 234
213 234
214 212
218
213
965 Utah-Apex Mining
312J'no 15
2 Mch 10
5
2 Dec
16
16
16
514 Jan
16
1618 1618 1612 1612 1(3
16
15
12
Utah
1512
1,238
Consolida
J'11.314
ted.... 5
934 Jan 20 20
1212 Dec
46
4612 4573 4614 4558 46
48 Jan
444 4612 4478 4514 4514 4514 1,116 Utah Copper Co
52 J'ne 14 03934 J'ne
pg 4i% Apr
,
6012 Jan
113 112
113 112 *132 133 *114
Vic•oria
190
8
15
213
Feb
7
713 71
2 Dec
*7
634 Jan
813
712 734
712 712 *7
712
7
025 Winona
7
013 Feb 6
cr
8
1
11p
-i38
6 '
20
109 109
5 rig
109 109
15 Jun
108 108 *107 110
108 108
10814 107
50 Wolverine
4 taung g 122 Feb 10 120 J'ly 150 Jan
ig 1011114
*1
13.4 *1
134 4138 152 *132 132
Last Sale 134 July'll ____ Wyandott
2 Feb 6
114 J'ly
384 Jan
•AsId and Assad prices. d New stock, •Ass't pald 0 Ex-stook dlr.
Ex-rights. a Ex-dly. and rights.
10733 108
108 10812 10734 10734 107 10814
410213 10314 *10212 103 *103 10312 410272 103
*221 222 *221 222 221 221
221 221
*127 12712 1274 12712 127 12712 *12634 127
4217 218 *217 213 *217 218 *217 218
106 108
105 105. 1054 108
105 10513
*295 ---- *295
--- *2"
*1314 15
*1213 -lb
41232 -10- *295
*1213 -1-4-*75 . 475 _ _ _. 475
_ _ *75
._
*--- 1212 4 __ 1212 4„.... 1212 4.-..,.. 1212
*52
56 *52
58
*52
58
*52
56
185 165
165 165
165 185
183 165
4114 11412 114 114 *114
___ 114 114
*271
4271
____ *271
_ *271
126 126 *126 __ 12612 lli
127 1-2-i*154 ____ *15412 ____*157
___
**13982 ::::: *99 ____ .92 _____ *158
*92 ____
*138
____ *14(3 1162114 2112 21
2112 22
*2012 IfEl *138
*92
9212 *9134 92 *0113 9213 0113 9113
13612 13734 13512 13634 13513 138
13512 13612
PR
*11634
8
1,66a
AlAlrouez
*113 154 *112 15
!
AUG. 12 ion.]
Boston Bond Record
1811.5
Price
BOSTOeN STUCK EX0IPOE
?riders
C
WICEK. liasintio AUGUST 11 'A"; August 11
Week's
it111 Range
since
Range or ,o,e!
Last Sate 0:1-'i'-lattilarv
I
401
BONDS
Price
BOSTON STOOK EXCH.GE II.2
t
Friefar
WERK ENDLI0 AtioilsT 11
August 11
LS!" Range
Wee
Range or 1,1161 Since
January Z
Last sale
Iltg4 No (Low
,,Lo)o
Ina
Ask how
Pia
-II up',
Ask Lou)
Am Awricul Chem let 58..1928 A-0
101% 101 78; 8.:101 14 102%1 Illinoin Steel deben 56.-1913 A•0 100%10034 100% 10012: 3,.1041 102%
la Falls &Sioux Clat Is 1917 A-0
lettil da Tel colt r 41129 j.
91% 811 89"t 112
UI Sala I 91
117 Apr'013I
.
Convertible 4s...........19313 114.8 105 107 I10834 J'ly'1 1 .....:405% ill's Kan C Olin & Spr let 58-1925 A.0
944
1)44 944
Kan CB% 021(lull ext58 1911 J -D
Am S1 rit Paver lstelbsg 1919 .1 • J
90
90
I 90 FeLP 1
100 10018
100 May'l 1
Am Zulu b & S (lob 6s....1915 M.N 113
100 3'224 Kan C Ft Scott & M 68-.1928 M-N 116 43 117', 116% 11644 2 115 11814
113 I
113
Ariz cum Cop let cony 68 1920 ,j.j) 85
1934 M-S
92% Kan OM & B gen 4e
93%
90 I 90 Ply'1 1 ....I 84
92 .May'llI.... I 102
92
Atoll Top &
Assented income 68
gen g 48..1905 A.0
1934 M.8
99%
911
98% 9941 1,8% .1'iy'11 .....I 1)8
.91
88 Apr'111....II 88
Adjustment it 4s
J'Iy 1995 Nov 914 02141 914 Ply'11.... 91
91% Kan 021 M By& Br 1st 581921) A-0 102.2
102
10-2 103
1 t....,
Maine Cent eons let 78. 1912 A-0
Stamped
J'ly 1995 7.1-ki 9114 112 41 112 .5.184,11 . nj
02
1024 Feb'111....,11.0234 102'4
Oons
50-year cony 4s
I
1955 J.D
let 46
1912 A-0
113
101'4 Sep '95I
• 10938 113
10-year cony Oti
s
oO
Hm
ouge
& Out 1st66.1
1917,J-D
19
626A
9 j...3
084 17103%
0
I;
115 J'ne'1.18'
11038 Mar'l 1, . 16
Mass
Atl Gull & W SS Lines 58.'69' J -J
69%1
100
89% 69%
89
9918 100 100
2! 99% 100%
Mich
kiwiton Elect 1. 000801 bs.1924 11.13
Teleplet 66
1917IJ- J
110 Feb'04'..
99% May'llt.....I 9012 994
Minna Geu Klee con g be 1929; J.J
Boston eh Lowell 48
1916 J -J
10213 Aug 041.. '!
11)0', Mar'09
..
Boston oh Maine 4.420'
New Eng Cot Yarn 66.. .1929! F-A
1944 J
104 h Oct '08'....
101 101
101%1 7,11-01) jUi
New Rug Teleph 68
Boston Terminal let 3%8 1947 F-A
1915 A-0
11212Jan '03'
10138 51ar'll....'.10134 102
he
Bur & Mo Itly cone tia ... 1918 J -J
1916 A-0
103 Jan '11 1
103 103's
1100% sup'
1/8
"
New England cons g be 1945'J •.1
Butte & Boston let 6e
1917 A-0
100 J'ne'01,
Boston Term let 4s
Butte Elect& Pow 18t658 1951 J-1)
11139 A-0
Cedar Bap & Ale it 1st
M-N
11i 3eAug'ii
111 38111% New River(The)cony 68 11134 J -J
75 Oct '10
Cent Verint 1st g 4s..May11/20,Q-1?
110
901, 11 87% 9u% .L'i Y N ii & fi con deb 3.281956; 4
908 9014
96% Nuy'll'.... I 96 4 91044
Cony deb (is Otte)
B /lb 4 Iowa Div 1st 58.11119 A-0
11103 Oct'07 . I
13318 May'll ....• 134:% 13134
Old Colony gold 4s
101Vit DIY 181 48
(6) Feb'l I
1910 A-0
192
44
41j
F:A
sr
1111 Apr'uo
I
Debenture be
1913 Nt-N
.
. 100% 101 4 Oreg By 00 Nat' con g 48 1946'4.1)
118% Sep'09
101',
Oreg Sh Line 1st g 68
99,100
Denver Exten 4s
1922 F -A
1922 F-A
11478 Febl 1
994 NI85'11
.......
Nebraeka Exton 48
11/27.M-N
9.4 44 May'll
' 9838 99% Pere Marquette deb g 6e 1912 J -J
U8
44334
1.16
itepuli
14/21'M-13
Vaitey
13 do W 5145
99% Feu'11
1st pi I its. 1919 4.4
1,03 Jan'111....:103 103
149', 994
Illinois Div 3lus
1049 J -J
87% J'ly It]
' 137 12 8,
44 Rutland 1st con gen 4.28.1941'J -J
107's •...4'415t
J 0 ity& kitk Yds be .1915I j•J 101'101lO2 Aug 1
ktutlamt-Canadian 1st 481949'J4
102 Miu'02; ..1,.
Savannah
rettiuding
trust
Coil
ta1.940,A•0
Klee let eon/358.1952 J-J
1/1% 904
004 3 8913 9u44
7014 Dee'101
I
Seattle Mee 1st g Os
Jh Mil & St P Dub D 68..1920 j. ;
114 Jait'11 . 114 114
1930,F-A
104% J'ne'11i....."104 105
jh M & 51 1' Wie V .114,68111241,J • J
413%113% Shannon-Aria let g O
19 le M-N
1 IA% Feb'll
92
00
91%
9 l 13;
93
. 91
Mien
Terre Banta Elec g 08
Ohlt es No
gu 58.11131 M-N
UM 100% J'ne'll'....', 98%101
1)7 Apr'07;
19291J 4
J1110 & W Midll gen 54.-1921'.1 •1:11: 101% Sale 4011
/
2 1111,
2j
1 100 1004 Torrington 1st 6 5s
19181M-5
100% Mar'10
•.)oneortl & Mont 00118 48-11010, J•D!
Union
Pao
lift
91 Dee'07'.....':
341gr
g
46 194.7Ij -J
......
100% J'ly '11'....' 100%101
20-year cony 48
Jona & Pass It let g 48...1943 A-0'
1124 Jan'03
11127.4
......
104%Apr'll!....' 104%104%
I -.I
Cudahy Pack(The)let g 58 1924 M-N
United Fruit Sons t 4%3 19213,J1004 Aug'01/
97
in% 974
J
95% 074
Jurrenl /Over let 68
U
8
Coal
1826 A-0
dB
Oil
late
I 68-1938,141-N
97 Mai'llI . 97
97
165 .Nov'10'
Del Or Rap & W let 48...1946 A-0
87% J'Iy'll' ... 447
kW* U S Steel Corp 10-00 yr 68.1963111•N
1u512J'Iy'11 1.... 104.4 106
Dominion Coal 1st 81 68..1040 lel•N
West End Street By 4e
1
1.9
91.
14
51,6
98
U534 98
F:A
s
98
99 May'11'..-J
% 99
Fitenburg 45
Gold 4.26
1915 M-8
103 le Apt'05'....' ......
100% May'll'. ..' 100', 1001
/
2
Goba debenture 48
127.84
96 A pr'IM
U8.2 Apr'10....'
Front Elk & Me V 18t tis 1933 A-0
(Joni 48
1
19
111
17
128 J'ly'll,.. .. 1274 128
6164
F--A
N
...... 9818Jan'111...; 11848 984
Unstampea lel. tie
Western Telepli & Tel 66 19321.1.J
L933 A•0
140 Apr'05
......
99%
99
99%. .11 9634 100
Gs Nor (.3 B & 14 eon tr 48 111211J-41 11648 Sale 1)65
97
9, 95.2 98% Wisconsin Cent let gen 461949 J -J
934 Jan'111.-1 1334 984
Registered 46
1921144
96% J'ly
UV.
. -9538 9b
Nara-Buyer pays accrued interest In addition to the Purchase pries for all Boston Bonds.
No price Friday; latest bid and asked. V Flat Price.
£01
o
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
share Prices-Not Per Centiiiii Prices
Saturday I Alondas
August 5 1 August 7
Wertnesuai, I 'Itturs‘lay
; August
August 10
Tuesday
August
WAIVE STOCKS
bates
I
- 01 the
k or Bonds and inactive
ertday
stodk8"
I
8 081018)
August 11 -Shares'
Range Since
Jan! 1911
Lowest
11e9nes4
I Range /or Pretioue
11
Year(101U)
ii
Lowest
I
itignore
italtlinure
92
92
4.
9214
92
92 ;;;
92
92 I
984 9834 ins% 9034 98% 98% .
9834
; 128 128 4
128%
! 423 42 26',! *23
27
09%
* ' 59.2 4
(it/
19 ; 18% 1834
11/ I 19
19
1134 18%
12 I
44
.11%
44 12
45
12
53
31%
73%
12
.11
.11.
12
44
44,18 44
44%
45
45% 4538 468
IL%
11% 12
12
63. 03
531.1 53
3134 •30%
3104 *31
73% 73
73
73
426
4,0943
b514
(11
S6312
1738
23%
754s
6),
51
87%
27
24 48 26
26
26
110', 94/14 110
1/0 12 .90
041,851318'
864 85 12 56
6111. 61
61.4 60% 61318
4524-., u4
65
.03% 65
1 71,
17% 174 1778
23% 23%
23% 23% '..334
?13..
'I13% 75'8 76718 75
634
6% 71‘5s
5% buis
4 511, 61% 511,
6112 61,
87% 574 874 b7
b74
PHILADELPHIA
lifd
%,
11%
53%1
31,4!
73
Ask
205 Con.Gas EL b. as Tow.100 64 Jan 9 94 May29 40 Mar 84I1 Deo
Du prof
Os
It& 89 Jan 9 luu.2 J'ne '1 00 Mar 90 .710
.
3 Northern Centre.,
00 12 i Jan 11 130/4 •Pne26 115 Jan 132 Yen
Seaboard(new)
liM 21 Jan 4 28.8J'ne 3 1/5114.1'1y 2Y 14 Jan
I
Do 20 pref
100 4314 Jan 4 62 J'ne 3 10 Oct 47 Jan
DU 10%Jan u le% Ply ..:u 1262May Id% Des
18% its% 1,008 United liy J4 Electric
I
I
rhilatileiplan
I
12 1 .11
*11
12 I ';,12
American Cement
124
60 12 May23 17% Jan 4 17 Dec 28 Jan
44% 44% 44% 44% 44% 44%
3L8.4 tkiermill Railways
Ju 42 Jan 5 45 12Jan 2.,/ 4134 J'ly 5U Jan
4u%
45
44% 44 %; 44% 4514 2.984 cambria steel.
50 42%Jan 3 2.,1, hen 13 4014J'ly 5.3.3 Jan
II% LL% 11% 11.s IMF Llectrio Co °I America 10 1 I. % J au 4 42% Jan .4 1i 4 J'ly 42,94an
IL% 11 18
62 4 13 I 62% 53
62% 53
1,303 Elea Storage Bette:y 100 48,
2 Jan 3 56 1,, J'nel5 42 J'ue bin,
.Mar
301, 31
31
3L
687 Gen Asphalt tr Ms
*110', 31
100 Su .8 Aug10 343 Jan Lu, 19', J'ly 34% Deb
355
41234 73,3 .71% '12's .71% 'i2',
Do prof tr ctfa
1011 72 Mar:0 8315 Jan 30 64 J'iy 844 Jan
18
48
Keystone Telephone... 60 7% J'Iy 2U 9% Jan 10
'I J'ly 13 Jan
25
25
025 tame superior Corp....10u 24,
26
425
241, 24%
8 Augi 1 32 Feb 6 1512J'ne 29% 000
52o Leuigh 0& Nav tr ct/s. 60 /33.3J'ne29 410 Jan 14' 86 J'ue 123 Jan
90
90% 110
90
11034 904
8318 81
84
2,037 Lehigh Valley
Si
054 83
50 03 Aug:0 9012 Oen 3 6212.1'1y 1214 Mar
6034 01
001, 6038 60% 00% 3,204 YOUD4yiVa1114 itli
50 6u 4 Aug LI 65 Feb 2 6111140'1y WON Mar
62
5.
462
54
.52
03
113 Plulluleip'at/o Witt/. 50 sb0 Jan 3 bu 4 J lie b 42 J'ne 534 Jan
rdeipti
L738 1734
17% 17% 4,417 Plillala ItIaetric 25 16 Jan 10
174 17's
1/ 18 J'ly LO 413% Lreb 164 Mar
•i1358 23
23
23.4 23%
234 8,65. Plills Bap Tr vot tr ct 8 60 17 Apr lb 21 18 Aug 1' 15 Apr 25.3Jan
7518 76%, 7V-e
i 7A34: 121115 74 15,136 Reading
bu 721318Augll 8t./.4 Feu 10 65% J'13, 06 Feb
734 Tonopah Minuig
611 606
1
5.2.7'1y28 th,Jan 17, ti%Jan Vit
.May
61% 51% 51
61
51
61', 4,641 Union Traction
50 43 Jan 3 52.4 Aug 1 38 Oct 62.ti JUL
191% 87
13,969 United Gas 1mpt
864 864 8512 86
60 834 Anglo 8:08 1an 1/, 79 J'Ay 00%Jan
- ' - ---- - - -:-. • PHILADELPHIA I Bid I Ask
PHILADELPHIA I Rid I Ask
HA I
31011 1.1
JUL I Ask
Hondo
0By ExtasImp 15t.'32 Al..s
Ph & Bead 2d be '33.A-0 116.v,
American Milling
10
114
Pricey are all "and
l's
Chao Cityity 1st08'23J-J 103 1104
Ex Imp M 411 g'47.A.0
Cambria Iron
60
44.
interest."
Terratual 66 g 1941.Q-B' 1174
I Chas By & El bs'LW .14.8
Coke.100
Central Coal &
Alt &LVEleo4.28'39.1C-A
'7834 80
P W & B col Or 46'21.J
1/9 41 9934 City & Sub Lit ink..'22J-D 103
Preferred
80
Ain Gas do Bloc 5807.F-A
100
1341
88% Read Tra0 Let(Is 1933J4 120 .125 I City dl Sub(Was)lst68'413 1024.'104
Consol Traci of N J 100 7512
Am Itys con v bs 1911.4-1) 1110 100.2 Hoch IV& Leon Ets'64J -J 100%
Coal as C By let 58'111A-0 05 t 418
Germantown Pass
50
Coll trust 68 1917.A-0 3,4%
Spanien.A.m It 66'27 J4 101%102
Coal & 1 Ety 184 58'20E-A 101, 10.4
AU U Bloc ref 68'38.M-13
Huntingdon Cf B
6
Stan'd Gas E 68'25 Ai-N 101% 102
Col&Gruv 11468.191634
10 14
Preferred
Stand St.1 Wkslat56'43.74 102','
lierg&tilsrw 1st08'21.14 101
Uoissol Gas 58..1939 J-1) 101% 109
13ethie Steel Os 1098.Q.F
Indianapolis St
100
117 12 U Trite 106 gen 66'19.J4
Gen 4 %a 1964
194,2'
01100do Me let 158 1949 J-J
Indiana Union Tr.. 100
Un Rys Tr ctts 48049J &J
Cons GE siBP 4428'35A
7'1
U06
73., 9711
b7
.J4
3
United Rye Inv letcolltr
Insurance Co ot N A..10 20', 20% Ch Ok sib tk gen 68'19 J-J 103
Fair& C'ITr 1st58'38 A-U 10014 tuu
Con Trac of N J let 68.'33
ef b. 1026
Inter k3m Pow 21Chein.60
141-N
84% 844 Gads Ala 1st con be'43J -J 106 107
15% Del CoRya tr ctts 46'4,4-J
Welebaoh e f Ets 1930.J•D 88
16
Kentucky Securitioa.101
bla(Jar &N let 3a g'29.14 104% 10612
& A lot M 58 1920 51-1
ft./yawn° Temp v t 0..50
Wlks-BG&Econ38'65-I4 102
Georgia P lat 68...'22 J-J 112 114
,
1
Bloc 21 Peo
Preferred
York Rye 1st 68 11/37.J-1)
90
00
etit Or etre 89
90 (MS°eh Fla let 56 1945J-J lu I
Gen AfipLalt 15611/1631-S
KeystoneWatchCase.IM)
0-B-6 Brew 3-48 11/51M-S 44
4411
8% 1/
luthanapotis By 45.11/33 82's
Leh Vail Tran v t
Knoxy Trac Itit.58'20A-u 1114 105
BA lir13101tE
Preferred v t 0
50 21 4 22', Interstate 48 1943 .F-A
68'4
Macon lty& Ltlst58'511.1-J
Inactive :Stocks
Keystone
164
Brothers
10
Tel 58 1936.J-J
Lit
Ala Cons Coal& Iron.100
So
Rid Elea Ey let bs'31 A-U 98
984
Lake Sup Corp Inc 56'440
50 57
.Pret
Little Schuylkill
Mempuni st 1st 58'45 J-.1
8334 um Lit
72
100
Lehigh Nitv 'ilus '14-44 101
bline1041 & Schuyl kl.,60
Allan Coast L (Conn)100 245 250
Mt Ver Cot Duck 1st Os. 77% 78
lieu DI 4',,6.1924.44-1/ 104
Nat Gee Ince Lt& Po 100 20
Canton Uo
N pt.N&O lIst 5.4'38 Al-N
100 116 i*J0
70
Leh V C let 156 g
Protected
100
109 109,
Nor &For Tr 11468'313.1-D
4 Georgia Sou & Fla 100
884 811
Loh V ext 481811948.J-1/ 104
N Bayou Iron 45 btee1.5
1st prat
North cent41-01923 A..0
9.5
100 93
Northern Central
50 12'1 118',
Consol 68 1923
2d prof
00
.7-15 11734
series A 158 11/26. ..)-J 110
100 75
North Pennsyivania 60 9534 1/114
(8-BS Brewing
Consol 4%8 1923 J-D 103%
Series 1158 11126....J.J 110 112
100
34 3
Pennsylvania salt
50 113
Annuity 66
Houston Oil
414 Pitt Uu Tree Css 11.14/1.J -J 104
100
9
J-D 147
Pennsylvania steel..100
Lien cone 4e 20413.M-N
Preferred
100 74
1/734 418
75
Pot° Val let 55 1941..J-J
1001, Leh V Trait con 48'35J-0
Preferred
100
Sav Fla &We81,be'34 A.0
Phila Co(Pitts) pref....60 4234 43%
let series A 46 1935 BI-S
Bonds
Seab Air L 4.8 1030 ..A-O
Phil Gorman & Neal/4 60
18t,aeries 11 tie 1935.61-8
Prices are all" and
Adjuat as 1949. .F-A
Pinta Traction
86
50 83
NatLH& PeterB5s'19J4 974 100
interest."
Saab as Roan Os 1926.J -J Lib% 106%
Railways General
10
New Con Gas bs 10484.1)
Bait City 3186 1930...J.J, $3
tioutit Bouud 1st 58. A-0
6% 6% NY Ph&Nolat4s139J4 lid
Tonopah Belmont Dov.1
48 1952-105S .Various 100 101,
UE1 L&P 1s14128'29 M-N
U Lilted Cos 01 A J.. iut
Income 48 1939. .M-IS
5.1916
11-241 104,
Un By& MI lat 43'49 M•S 86
Unit Trac Picts prei 61/
Penn & Alti Steel COD his.
Anatleatia & Pot be
Income 48 1949
.1-1) 63% 6:212
101. 102
Warwick Iron & Stee1 10 10
104 Pa & N Y Can 53'31).A-0
All Coast L(Ct)ctfs66.14) 104
8744
Funding 56
57
Washington-Va 11y.. 100 434
Penn Steel 1st 68'17 M-N 103
Ctfs of ludebt 4e. J4
Va Mitt 8d ser t1e '16.31-5 ......
Preferred
11)0
People's Tr tr coils 4e '43 93
5-20 yr 48 1925
J-J
03%
1)2
4411 soy 3.4-6e 1921.151-b
Vielsbaoll Co
...
10
1'Co let& col tr 08'49 154-S
BSP0501/44%s'5311`..A.
103
%
5th series Os 1926.2.4-15
West J ersey & Sea 811.5
66
Coneb col tr 66 11161151-N
1.1) 100
Bali Trac 1st68..'29 141-N
Vs(State)38 new '32.J-J
Westmoreland CoaL...50
P1111 Elec gold trust ars. 103% 104
No Halt Div 58 1942 J-D 14111%
Fund debt2-381091.4-J
Wilkes Gas st, Elec 1110
Truat certife 48
024 Car Pow& Lt 38 1038F-A 01 32 1/24I West N CcouSelUI4J-J
50
York Hallway
7
8
P & gen Ai g'20.A-0 107 107
1 Wil & Weld 5e..1936.J41 110 11
Cent'!By oon581932
Preferred
Sc) 2338 23
Gen AL 48g1924/..A/ko0 10014
-"Ind and asked; E0 sales on this day. ¶J Ex•div.& riehts. II 415 paid. t $124 DILL 3 513,
2 paid. 1133 paid, a fleeing Li. )
.1 $2:, paid. 64;30 paid. d$42', pal&
kunCtivo SloCits
..
10414
864,
402
THE CHRONICLE
Volume of Business at Stock Exchanges
[VOL. Lxxxxm.
Electric Corn panics
Chicago Edison Co-Sea Ch
Gr't West Pow 5s 1946....1,1
e Kings Co El L & P Co.100
Narragan (Prov) El Co....50
N Y Q E1L dr Pow Co_100
Preferred
100
United Electric of NJ
100
1st g 4s 1949
3-Fl
Western Power com
100
Preferred
100
BM Ask
cago list
8612 8712
126 128
*34 87
53
56
73
76
90 _ .
7812 7914
33
32
62
60
Industrial and Miscel
B...id_
Consol Rubber Tire--100
31; 414
Preferred
____ 100
'29
• TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
teur
setee
4ir 1951_ A-0 1 92-- 45
DAILY, WEEKLY AND YEARLY.
e C
Dru
erlbnl
100 12
1234
e Preferred
Davis-Daly Copper Co...
11
90
0 513142 82
113
Stocks.
Railroad,
e Diamond Match ( o___100 103 104
Week ending
Stale
U. S.
duePopnrte(
nade Nem Po 100 135 145
fgre
August 11 1911.
Shares
Par value.
Bonds.
Bonds.
Bon
Bonds.
1001
100
e Gold 40 1936.......J-1) 8512
Saturday
561,193 $51,163,800 $1,115,500
$5.000 $12,000
Electric Boat
100 n10 "ii"
Monday
527.347 47,156,450
1,303,000
95,000
10,000 Telegraph and Telephone
Preferred
50
100 n10
Tuesday
710,796 63,804,000
Amer Teleg & Cable __100 79
1,780,000
149,000
81
53,000
Empire Steel
5
13
1.i.1, 13
10
0 12
Wednesday
600,879 54,262,900
e Central Sc So Amer
1,807,500
92,000
100 118 11012
Preferred
60
10
170 50
Thursday
1,033,532 94,522,200
2,771,500
76,500
80,000 Comml Un Tel (N Y)___25 110 __ --a General Chemical
Friday
737.755 67,520,500
1.779,000
136,000
75
a Preferred
16,000 Emplfe & Bay State Tel 100 t5
10111 104,
7 , 109
Franklin
4%
100 40
Gold 11111 Copper
i
51e
Total
4,172,002 $378,430,450 $10,565,500
$553,500 $171,000 e Gold & Stock Teleg_100 110 116
Greene-Cananea
20 *634 7
e Northwestern Teleg____ 50 103 114
Guggenhelin Explor'n_100 183 192
95 05
Pacific & Atlantic
70
e Hackensack Water CoSales al
Week ending August 11.
JaMIWAugutIL
e Pao Teich & Teleg 00 100
09,s
New York Stock
Ref g 45 '52 op 1912 ...J-J 83
87
Southern dr Atlantic._ ___25 -90
- 95
1-tall Signal Co
!exchange
1910.
7
3
1911.
10
1911.
I
1910.
Havana Tobacco
coin0
6
Co_ ___ 1100°
Ferry Companies
Stocks-No, shares..-14
0
4,172,0021
2,295,044
5
16
8
65,857,672
116,641,274 B
N
Y
1st
0s 1911___J-J (0
6378,430,450,3204,677,150 $5,878,334,050 $10,494,316,200
98
1st g 5s June 11992d0
Par value
Preferre
..J1-1
'
)
)/
NY &E 11. Ferry stk_ _100
Hecker-Jone
Bank shares, par
s
-Jewell
633,700
Milling
$51,300
61,337,500
$788,7
1st 53 1922
- .- -6611I-N -5(i
1st 6s 1999
m-s 100 10213
Bonds.
N Y Sc Bob 5s May '46...1-D 1)9 100
Herring-Hall-Mar new....100 16
Government bonds$30,000
$171,0001
15
$2,310,500
6292,700
Bob Fy 1st As 1946._111-N 10512 107
Hoboken Land dr Imp. 100
State bonds
579,000
553,500,
78,183,500
31,909,450 NY&NJ
J-J 93 .......
1st 53 Nov 1930
HR. and misc. bonds. 10,565,5001 5,977,500
406,875,000
387,603,000 10th Sc 23d 5s 1946
25
35
Sts Ferry...100
Houston Oil
100 1-99
4-- Iii.9
5-11i
1st intge 5s 1919____J-D 58 65
Preferred
Total bonds
$11,290,006. 66,586,500
101) 1_0
7
;
!
1 2%_5...
2547,309,000
$419,895,150 e Union
Ferry stock
24
100 9
2 "5
90
e 1st Si 1920
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
eilluntors
noll-a
111-N
Realtynd coni.._10
00
0
-EXCHANGES.
e Preferred
Short-Term Notes
Intercontinental Rubber
'
:-i
.
.
Areal Cop 55 Apr 1 1913... 10
0
01
.
,
4
Internat'l Banking Co. 100
295
Batton.
Philadelphia.
American Cigarinternational Nichol.,..,100 145 255
55
Week enling
Ser 4s Mall 15 '12....M-S
Preferred
1
99
003S
100 09 100
Listed ! Unlisted
August 11 1911.
Bond
Listed
Unlisted
Bond
Bait & Ohio 430 1913.J-D 100 10o14
1st g
%12
9 101.
(0) 1 4
A
A1--00
1
shares. shares.
sales.
shares.
shares.
sales.
Bettie!' Steel Os 1914__M-N 10014 100
International Salt
is
Chee Sc Ohio 410 1914...1-D 994, v934
1st g 5s 1951
8
53
8,407
Saturday
6,689
613,000
10,391
10,673
$63,500 Chic Sc Alton 51 1913__M-S 9912 100
International
80
100
Silver
100
13,714
Monday
4,951
40,000
5,456
8,717
47,200 ()In Ham Sc D 4s 1913_
Preferred
100 T.... 12
18
16,523
Tuesday
4,315
14,500
10,311
13,197
22,000 Erie Os Apr 3 1914 _A-03 10
10
978 10'9114
1st Os 1948
18,112
Wednesday
4,176
34,000
4,319
13,704
53,400 etleneral Motors 63'15 A &() 99
9914 Internist Smelt & itefg 31-011)
1
25,980
11,958
Thursday
40,500
16,249
20,412
45,110
iidson CompaniesJones
&
Laughlin
Steel Co
Friday
20,5871
8,175
20,000
8,231
11,700
15,100
Os Oct 15 1911
A-0 100 10012
1st s I g (is
10213
Os Feb 1 1913
F-A ,
98;
2 0
90
.)
a Lackawanna193951
Steel._._ 1-0N
0 10 40
Total
103,329' 40,264 $168,000
54,957
78,403 $246,310
6s Oct 15 1913_ A&015 0012 9712
et: D
leetbcomn 159
s15
1950
M-S 81
8211
Int Sc lit No 5s Tr Co ctfs
sA-8 9338 9313
KC Ry Sc Lt (Ss '12_NI-S 95
98
Lanston Monotype. __100 05
05i2
Minn Sc St L g 65 1913.._F-A 9412 95
Lawyers' Mtge Co
100 260 Li .1)
NI° Han & Tex 58 May 113 99
9914 Leh & Wilkes-B Coal .50 260
Ali bond prices are now "and interest'. excert where marked 'f."
MoPacinc 53 1914
9712 a Lorillard (1') 'wet
J-D 97
Net Rya of Hex 4 Wel3J-D 981.: 98,i, Nladison8q Garden
5 16
1...(9
1 1g
e.SYC Lines Eq 5s '11-'22 1,412% 414%
2d Os 1919
MN 9
Bid Ask
Street Railways
Bid Ask
Strcet Railways
4 WI Jan 1912-1925
8412% 414% Manhattan Transit
N
Y
Cent
11 :
1:
4 e May Dept Stores.---g ;l116 -1f11.
414s 1914-111-S .!
New York City
Pub Sere Corp N J (Con)N Y N 11 Sc 11 Si Jan 191'
e Preferred
100 112 11311
Blew* St & Fut Fy stk_100 15
21
New'k Pas sty 53 '30_ _J-J
41is MO 1 11/12. -M-S
eMiaml Copper-Se. Stock Exch '1st
lit mtge 44 1950
60
70
Rapid Tran St lty_ .100 2
10
36
5
212 -40- Poo Serv CorpNJ
5s.
713 A-0 116'; iiif" Monongahela It Coal
50 *1014 1110
413
By & 7th Ave stk
100 120 149
1st 5s 1991
A-U
St L Sc S F 5s 1913____M-S
Preferred
34
2d nage as 1914
J-J 99 101
J C Hob & Paterson5
113
910
Mortgage Bond Co
3p: -J
'
i78
iz12 9 .12 99
't *111
Con 5, let .-See Stock Exc list
4s g 1949
M-N 76
77
So5
uithju
10014 10012 I Nat Bank of Cuba
lry gi
16
0218 10
110
1. 1.
B'way Surface 1st Si gu 1924 10112 103
So J Gas El dc Tree_ _100 133 136
Tidewater 6s, 1913, g-tiar..
10112 10n4 a National Surety
100 220 .,30
Cent'l Crosstown stock 100
90
Gu g 5s 1953111-S 98 99
Wabash 430
Nev-Utan Min & Sm
97
90
1 ;00
let mtge Os 1929
M-N / -8-0-- 85
No Bud Co Ry Os 1914 J-J 10
0:3
134 1„31. West Tele!, Sr 1913___M-N
T 5s '12.F-A 10014 100.14 e New Central Coal
20
Oen Pk N & E Ely stock _100 10
20
5s 1928
J-J
Westingh'se El Sc H Gs 1913 101.4 102
e New York Dock
100 -.--25 ehristoph'i & 10th St stk 100 95 120
Ext Si 1924
M-N 100
e Preferred
e5% notes Oct 1917.A-0 95
100
9712
66
Col & 9th Ave 5s-See Stock Exc lit
Pat Sty con (is 1931__J-D 114
' N Y Mtge & Security-100
5 2:8
5,8 21938
Dry Dock E B & B2(1 6i opt 1914
A-0 111,12 103
N V Trans
Railroad
n
90 *portai
4
83
1st gold 5.1 1932
J-D
V912 :011: To Side El (Chic)-See CI) lea i lIst
Chile
Pear
cc
St
Niles-Beni-Pond
cow__ _100 1i2
97
Scrip 53 1914
F-A 1 3i) 40 .3yracuse It T 5s 1940 _An',
103
Prior lien g 4 14s '30_111-S / 90
Nipissin,r Mines
94
'eighth Avenue stock_ _100 275 310
Front P & H 65 1943....J-1.;
1)9
Con mtge g Si 1930_ _J-J
Milo Cop9er Co
*112
Scrip Os 1014
F-A / 95 too
(Thited Isys of St L234 1:1
1 5
lo 5
0nizetIr g
P
eoiwue4r3Ceop
t....F1-11)A
0
1
29
87
3
42d & Or St fey stock. 100 200 223
Corn %rot tr ctfs
100 10
1012 Chlin
ca
cg
oomeSu
5sb,wj
aty
lly 1930-16o
99054
428 St M & St N Ave.._1(10
e Preferred
100 40
41
Northern Securities Stubs.. 100 103
it Ontario Silver
100
114 214
2d inconw Os 1915.....J-J / 40 - 61)
Gen 4$ 1934-See Stock Exe list
Pitts
Bess
&L
E
Otis Elevator coin
,
3
74
0
0
2
56 :3
100
Inter-Met-See Stock Each ange '1st
Unit Rys San Fran-See Stk I'lSeiWt
Preferred
Preferred
50
Lex Av & Pay F 53-See Stk Exe list
Wash Ity dr El Co
40
100 45
$ Railroad Securities C0Pittsburgh Brewing
!
,97
2
(
9
U 1!1
70
3
314
Metropol St lty-See Stk Exc list
Preferred
100 8874 90
Iii C stk tr ctfs ser A...52 90
Preferrea
95
50
Ninth Avenue stock-100 150 175
4s 1951
J-D 8514 86
Seaboard Companye Pittsburgn Steei pref...1
V11)
3 i5i1;
13
Second Avenue stock.._ _100
1st
i'dpe
Mfg
preferred
67
Co
85
100
coin
53
IOU 48
Consol 5s 1948
F-A 1. 45
50
Gas Securities
Coin Sc 2d pref-See Sal"t 9
pra
ftj
st
1c ,
E2x:
101 'In
il
s Sixth Avenue stock.. 100 120
20
West Pao 1st Si 1933 M-S
PreferredPratt ,irWhitney
%
firer_ Wu 10212 105
Sou Donley to 1945_ ___J-J 05
75
New York
Producers
011
100 95 105
So Per 1st 5s 1910
A-0 75
95 Cent Un Gas O's
10112 10212
(Ray Consol Copper-Sec S :k r.x list
Industrial and Aliscel
Third Avenue Itit-See Stk Exe list
Con Gas (N Y)-See Stock Ere list
Adams Hap g 4s 1947...J-D *185
Realty Assoc (13klyto... _100 112 117
87
Tarry %V P & M Si 1028.. 6(1
80 a Mutual Gas
100 165 175
Ahmeek Mining
ItoPyrael7eBrare
kaPowd coin__ 100 195 206
25 60 180
Y'kers St RR 53 1940 A-0 75
80
New Amsterdam Gas125 135
Alliance Realty
100
101, x10012 103
28th dr 29th SW Si '96._ A-0 1 18
25
1st corm! 69 1948___J-J 101 102
Amer Bank Note corn
Safety Car Heat & Lt_100 121 122
50 *48 49
Twenty-third St stock _100 190 215
N Y El It Gas lst 53'44 J-J
Preferred
53
Seneca Mining
50 *51
49
2i,
Union Ity 1st 5s 1942._ _F-A 102 10312
Consol Si 1945
J-J 1 01'2 193512
10
American Book
Singer Mfg Co
100 165 170
100
0 2.0
4 i.07
Westchester 1st 5s '43 J-J 65
75
N Y & Richmond Gas_ J00
American Brass
South Iron & S corn_ .....10
100 122 124
6
Nor Un 1st 5s 1927___M-N IOU - 102
Muerte:1n Chicle corn. 100 21:0512 16265
100
5
10
Brooklyn.
e Standard Gas corn. __100 70
Standard Cordage
Preferred
100 105 109
100
Mien Avenue RR14
e Prefe-red
100 95
lit
Am
Id
Graphophone
10
g
5s
J00
corn
'31 red- __A-0 / -12-- 15
Con 5s g 1931
A-0 101 1021
1st 53 1930
M-N 104 106
Preferred
Adjust id 58 Apr 1 1931._ / 1
100 "iii• 26
3
BB&WE 5s 1933
A-0 98 102
Amer
Standard
hardware
140
100
Coupler
coin
.10042
46
Brqpklyn City Stook
10 106 170
Other Cities,
Am Malting Os 1914
2
Preferred
J-D
MO 105 116
Con 53-See Stook Exch auge list
Am Gas Sc Elec corn
50
Amer Press Assoo'n___.100 1)0 100
eS,t,arprdea dre5ditiling Co_ 100 lb
17
Bklyn Hgts 1st 5s 1941 A-0 98 102
Preferred
4:12 Am St Found new See
3
"5
50 :17
Preferred
Ex
tk
list
100
54
48
,
Bklyn Queens Co & SubAmor Light & Tract__ _100 295 299
63 1935
e 1st 5s 1930
A-0 101 104
Iii-N8734
s lit g 5s '41 op 1910 _J-J 98 101
Preferred
100 10412 106
Deb 45 1923
Standard Oil of N J
09
F-A 67
Ea- 610
.1st con Si'41 op '16 M-N 97
99
Amer Power & Lc corn-100 75
77
American
Studebaker
Surety
283
285
50
Corp com_110000 60
61
Bklyn Rap Tran-See Stock Exit list
Preferred
100 8212 84
American
*5
512
Thread pref- _5
Preferred
100 10512 10013
Coney 1st & Bklyn
100 50
65
u
Bey State Gas
s
12
50
Am Tobacco Co cnin____ IOU 376 377
Sulzfferger
&
10012
100
uopt
Sons
1
1
1
8:111
0
lit cons g 43 1948._ J-J 78
83
(N Y) Gas Wk
Amer Typef'ders corn...100
Swift & Co--See Boston Stk E
55
list
Has52
Con g 4s 1935
75
80
J-J
1st g Si 1938
A-0 95 100
Preferred
1st 5s. See Chicago Stk Exc list
100 IOU 102
Brk C & N Si 1939_ _J-J 98 101
Brooklyn Un Gas-See Stk Exe list
Deb g 63 1939
111-N 9912 10012 Texas Company-See Stock Exc
Kings Co El 43-See Stook Eke list
Buffalo City Gas stock 100
Amer Writing Paper...AUG
514
112 2i.i a Texas & Pacific Coal_100 98 102
Nassau Elec pref
100
1st Ss 1947-See Stock Exc IIWePreferred -See Stock Ex ch9
1 4,
15
25
,
)
_100
i 1(N
ns
u41:::
'gle14 list
_4
I,Co1,
_ 3_ .
NeYv_ed
eneIla
112 Title
,
1
5a
13
11:3
5
53 1944
A-0 101 1-63 Cities Service Co
100 7612 77
f
81st
s
g
5s
'19
red
10.51-3
1st 45 1951-See Stock Exc list
Preferred
100 81
82
All Gil & W I SS Lines_ 100
012 1012 Trenton Potteries com-1
85
110
000
0 5205
N NV'b'g & Flat 1st ex 43-5s 00
94
Con Gas of N J
1936 _J-J 93
96
Preferred
Preferred new
20
100 19
5:
Steinway 1st Os 1922-J-J 100 104
Consumers' I. H dr PowCol tr g 53 1959
Trow Directory
70
J-J 69
5s 1938
J-D 100 -- Barney & Smith Car ,...100 n18
'dpeT
er,eriy
wyrr
eiryrelete
rnr_-18
: Sl
euUldn
:
43
t,(11
Other Cities
Denver Gas & Elec
100
Preferred
1011
Buffalo Street ICYGen g 5s 1949
293
95
Bliss Company corn._ 50 80 100
1st preferred
1st consol 5s 1931___F-A 104 105
Elizabeth Gas Lt Co_ ___100 300 _
Preferred
2d preferred
100 103 105
50 124 120
Deb 6s 1917
Essex & Hudson Gas. 100 18
A-0 101 105
3 II-- Bond Sc Mtge Guar
United
2
14
2
100
Cigar Mfrs
5
8
2
1
50
3
0
100 52
53
Columbus(0) St Ry
100 -- 90 Gas & El Bergen Co.__100
Borden's Gond Milk_ __100
e l'referred
100 102 10413
Preferred
9714 a Gr Rap 1st 5s 1915 _F-A
100
Preferred
100 x10192 10812 United Copper
100
212
2
Colum Ry con 53-See Phi ix !1st
Hudson Co Gas
100 13g in
British Cbi Copper
Preferred
*378 414
100 10
16
Crosst'n 1st 5s 1933 J-D 10134 10212 Indiana Lighting Co ___100
Butte Coalition Mining_ 15
EnCasualty
100 215
eiconn Sty & Ltg com_100 74
713
4s 1953 op
F-A
Casein
Co of Ara com
velope corn
6
12
712 1U1 SS
100 *12
100 72
77
e Preferred
Indianapolis Gas
100 80
82
50 6
8
3
28
0
3012 ,93270087
Preferred
Preferred
100 40
53
100 114 116
1st & ref 4hs-See Stock Exc i1st
1st g 5s 1952
A-0
Casualty Co of Amer .100 125
100 92 97
Wand Rapids Ry pref 100 80 85 Jackson Gas 5s g 1937._ A-0 J 9712
100
Celluloid Co
(j Preferred
t.lg
n 135ls
(i6
:
919
4(4
100 134 13
100 105 110
• Loulsv St Si
106 10614 $ Laclede Gas-See Stock E xch 11 st
Cent Fireworks corn. ...100
5
10
J-J 100 105
Lynn & Dos 1st 5s 1924.J-D 106 107
e Preferred
100
Preferred
Con g 5s 1929
100
J-J 95 100
•'New OS Rys dr Lgt...10
-- Madison Gas 6s 1926
A-0 103 108
Chesebrough Mfg Co_ ___100 70
Il
en
t
U
e
d
e
6
rr
u
e
s
t
d
0
5
0
84
1
0
5
Alcohol
23
100
29
s Preferred
100 75
171et,
6
Newark Gas Os 1944R-J 127 129
sChino Copper Co-See Stoe k Exc list
100 90 99
Gen Mg 4;is 1935-See S tk Ex
Newark Consol Gas
100 97 .
CRY
Investing Co
U S Steel Corporation1
.... 65
•Pub Serv Corp of N J-See Stk E xi 1st
a Con g 58 1948
J-D 104
Preferred
Col tr s 1 58 1951 opt '11. 11418 115
100
Tr ctfs 2% to 0% perpet 106 107
No Hudson L H & Powe Claflin (IT B) corn
Col tr a I 5s '51 not opt.- 11413 115
100
Col tr g 6% notes '13 A-0 10012 101
5, 1938
A-0 100
s let preferred
0-. U S Tit Gu & Indem-_-_100 100 ....
1.
1909
98
100 9
1
5 .
North Jersey St Ry _100 65 .... _ Pacific Gas Sc E, corn. 100 67
s 2d preferred
68
la....
.
100
Westchester
& Bronx Title
1st 4s 1918
M-N 77
Preferred
100 87
Col dr Hoek Coal & I 1,1_100 .....
1)0
dr Mtge Guar
100 160 186
Cons Treat of N
___100 75
76 Pat & Pas Gu & Elec. 100 92
let g 5s 1917
J-J
Westingh'se
Brake__ 60
Air
161
let fe 1933
J-D 104 105
s Con g 5e 1949
M-S 101
Col tr 63 Oct 1956____J-J / 46 -8
6-- Worthingt'n Pump pref 100 108 110
.
St Joseph Gas 5s 1937 J-J 92
Consol Car Heating
65
100 62
12
1r4
Outside Securities
/3
share. 8 Basta,
a Sells on Stock Exchange, but not very active. / Flat price.
a Nominal.
s Sale price.
I New MOE. x Ex-div.
1, Ex-right..
403
THE CHRONICLE
AUG. 12 1911.]
kuuestment and 14atiroad Antethgencz.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns of the electric railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS
Week 9r
Month.
Current.
Year.
Previous
Year.
Latest Gross EarnSngs.
July 1 to Latest Date.
Current
Year.
Previous
Year,
3
3
iAla N 0 & Tex Par270,373 276,259
270,34'3
276,250
, N 0 & Nor East_ July
123,507 134,422
123,507
134,422
Ala & Vicksburg_ July
108,490 125,417
108,490
125,417
Vicks Shrev& Pac July
9.581
7,143
120,104
86,483
Ala Tenn & North_ June
58,642
48,641
178,197
151,573
4th wkJuly
Ann Arbor
8,341.420 8,459.030 107565 116 104993 195
Atch Topeka & Sic June
74,162
68,683
220,468
212,911
Atlanta Birm & Atl 4th wkJuly
2.332,124 2,194,978 31,622,449 19,810,268
Atlantic Coast Line June
7,461,700 8,088,755 88,145,004 88,901,252
y Baltimore 63 Ohio Juno
117,211 135,215 1,451,11)1 1,295,246
B & 0 Ch Ter RR June
277,046 227,028 3,173,112 2,990,530
Bangor & Aroostook June
3,863,030 3,664,201 14,815,084 13,357,175
June
Boston & Maine
4,455
4,922
51,633
51,907
Bridgeton & Saco R Juno
Buff Roch & Pittsb 1st wk Aug 193,959 216,469 1,057,260 1,0.3(,276
May
214,538 191,771 2,170,144 2,011,490
Buffalo & Susq
Canadian Northern_ 4th wkJuly 427,700 360,600 1,475,1)50 1,225,101)
Canadian Pacific _ 1st wk Aug 2,272,000 2,065,000 11,503,000 10,725,000
Central of Georgia_ _ 4th wkJuly 308,300 314,600
964,900 1,008,000
2,540,180 2,409,531 26,705,373 25,724,484
Central of New Jer_ May
354,840 326,269 3,026,827 3,470,425
Central Vermont_ _ _ May
Ches & Ohio Lines.. 4th wkJuly 965,285 982,014 2,690,041 2,088,695
Chicago & Alton__ _ 1st wk Aug 308,812 301,516 1,567,7{15 1,472,507
6,956,602 6,817,853 81,284,819 80,700,043
Chic Burl & Quincy May
9130,588
p Chic Great West_ 4th wkJuly 238,833 237,742
951,437
547,473
Chic Ind & Louisv. 4th wkJuly 130,697 179,501
528,187
5,182,263 5,567,339 64,975,995 64,846,894
Chic Milw & St Paul June
1,263,852 1,171,592 14,516,367
Ch Mil & Pug Sd_ Juno
0,401,846 3,576,812 74,918,186 74,175,685
Chic & North West_ June
1,218,446 1,284,377 16,092,851 15,095,023
I Chic St Paul M & 0 Juno
H & South E May
137,524 173,352 1,862,712 1,678,089
Cin Ham & Dayton June
838,581 831,022 9,570,282 9,446,524
' Colorado Midland
June
142,493 186,479 1,1)14.057 2,340,288
Colorado & South_ _ 4th wkJuly 375,43(1 441,911 1,108,529 1,343,215
May
Cppper Range
870,648
53,721
01,148
031,693
Cbrnwall
June
15,588
168,291
203,607
17,378
Cornwall &Lebanon May
301,178
400,091
25,337
35,336
'Cuba Railroad
June
262,954 226,198 3,059,650 2,559,330
Delaware & Hudson June
1,780,842 1,540,061 20,086,075 19,868,799
Del Lack 53 West
June
3,210,003 3,194,103 35,947,060 36,005,1)88
Deny & Rio Grande 1st wk Aug 481,000 447,100 2,441,800 2,459,200
973,873
Denver N W & Pac June
91,611 1,044,258
02,153
51,032
130,849
151,371
47,138
D'Itrolt Tol & Iront 4th wkJuly
99,522
103,210
31,278
31,313
• 3.)trolt & Mackinac 4th wkJuly
859,949 1,292,880 7,362,400 9,530,101
Dul & Iron Range_ _ June
290,445
313,502
04,683 103,305
wkJuly
Dul Sou Shore & Atl
561,348 667,706 7,195.887 7,437,601
El Paso & Sou West Juno
4,834,975 1,506,138 51,740,311 50,197,299
Erie
May
1,895
1,832
23,423
25,039
jalichuld & N
_ June
861,420
89,308
79,911
825,400
• Fonda Johns & Glov May
209,951 198,004 3,210,425 3,020,507
, Georgia Railroad_ _ June
Grand Trunk Syst_ 4th wkJuly 1,339,472 719,037 4,237,383 3,179,896
92,098
Grand 'Irk 'West_ 3d wk July 127,896
373,088
333,481
Bet Gr 11 & Milw 3d wk July
102,406
34,200
23,077
115,939
Canada Atlantic_ 3d wk July
110,593
33,700
24,814
106,011
Great Northern Syst July
5,797,765 5,792,462 5,797,765 5,702,462
6gulf & Ship Island_ June
155,569 152,956 2,01)6,790 2,094,070
May
Flocking Valley
587.446 680,503 6,589,161 7,053.780
Illinois Central_ __ _ July
4,90,740 4,804,791 4,990,740 4,804,791
Internet & Gt Nor_ 1st wk Aug 140,000 140,000
727,000.
833,000
a Interoceanic Mex_ 4th wkJuly 257,556 252,471
713,940
7,10,143
1st wk Aug
wa Central
312,343
66,352
62,973
309,212
June
anawha & Mich
275,418 247,300 3,111,052 2,709,657
Kansas City South_ June
771,842 860,684 10,125,583 9,723,878
131,81
161,354
43,590
50,085
C Mex. & Orient_ •1th wkJuly
May
ehigh Valley
3,519,674 3,180,360 33,999,731 32,915,051
exington & East_ _ June
532,849
51,016
54,392
484,020
98,318 113,740 1,432,638 1,322,761
Louisiana & Arkan_ June
oulsv Hend & St L June
95,656
96,419 1,214,603 1,176,869
Loulsv & Nash.. 4th wkJuly 1,365,575 1,380,200 4,256,650 4,201,600
152,211
9,016
9,805
148.088
awn &Birm'ham June
June
834,667 775,396 9,067,803 8,922,312
alne Central
438.147
33,410
32,522
aryland .53 Penne_ June
409,229
427,600
47.1,000
g Mexican Railway_ ld wic July 152,800 172.900
4th wkJuly
18,816
18,806
58,992
56.651
Mineral Range
1st wir Aug
87,937
83,670
486,084
497,239
, Minn & St Louis_
wkJuly
1th
S....1
551,767
S
632,815
2,014,101 1,903,210
Minn St P &
Chicago DIvisionj
71,527
81,073
915,704
893,010
Mississippi Central_ June
ti Mo Kan & Texas_ 1st wk Aug 470,594 409,365 2,624,583 2,609,844
Missouri Pacific_ _ _ _ 4th wkJuly 1,397,000 1,425,000 4,315,000 4,145,000
951,998 1,020,249 12,323,883 11,837,204
Nashv Chatt & St L Juno
a Nat Rys of Mex_t_ 4th wkJuly 1,704,890 1,638,390 5,288,142 5,276,347
9,458
28,927
9.942
• Nevada-Cal-Oregon. 4th wkJuly
31,680
7,294
June
6,010
84,814
60,096
• Nevada Central
146,028 153,871 1,555,845 1,853,791
0 Great Northern May
33,784
20,249
135,053
114,066
t 0 Mobile & Chic_ Wk July 29
8,845,348 8,394,092 101748 342 97,568,889
INYC.511Iud Riv June
3,951,967 4,193,704 48,452,124 48,579,016
,': Lake Shore & M S June
406,621 422,952 5,466,012 5,447,529
; n Lake Erie & W.June
292,522 239,815 3,636,755 3,729,387
Chic Ind & South June
2,394,785 2,392,923 29,766,822 28,812,497
Michigan Central. June
2,449,290 2,308,593 30,8117,620 29,330,986
ii.• Cleve CC & St L_ June
242,211 279,091 3,508,588 3,282,282
..• Peoria & Eastern Juno
98,893 105,551 1,244,993 1,243,024
Cincinnati North. June
1,322,451 1,606,635 15,708,374 17,339,623
.• Pitts & Lake Erie June
954,592 818,941 11,181,15.0 10,854,257
'• ! NY Chic & St L. June
425,685 505,632 5,032,572 4,478,705
! • Tol 53 Ohio Cent.. June
21334 365 21358 019 208771 190 252781 095
all lines above June
5,572,860 5,428,182 62,153,434 80,693.887
Y N 11 & Hart!_ June
I
:phi()P
l
: Tot
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Dale.
Current
Year,
Previous
Year.
798,236 792,859 9,295,702 8,578,783
N Y Ont & Western June
340,481 280,241 3,556,859 3,186,068
N Y Susq & West.. May
258,411 245,503 2.955,671 2,690,480
Norfolk Southern
June
2,895,610 3,001,923 35,557,522 35,063,870
Norfolk & Western_ June
May
5,001,858 6,559,387 59,852,579 67,750,744
Northern Pacific078,156 720,264 7,798,731) 7,903,148
Pacific Coast Co.. June
12921 988 13424 586 157234 100 159960 804
June
Pennsylvania R
25,058
Bait Ches & Atl_ June
20,044
270,002
258,579
245.902 263,390 3,027,798 2,968,156
Cumberland Vali_ June
1,023,986 905,601 10,144,508 9,394,389
June
Long Island
10,956
9,848
Maryl'd Del & Va June
130,632
125,656
298,706 360,220 3,372.484 3,367.047
N Y Phila & Nonf June
1,005,684 1.016,102 12.863,159 12,732,681
Northern Central. June
1,633,358 1,650,411 19,078,476 13,160,570
Phila. Salt & W_ _ June
562,130 514,822 6,144,564 5,502,780
W Jersey & Seash June
4,428,832 5,220,293 51,042,438 53,536,183
Pennsylvania Co..__ June
376,125 404,827 5,071,123 5,091,087
Grand Rap & Ind June
3,100,002 3,295,746 38,924,315 30,589,162
Pitts Cin Ch &St L June
706,235 871,034 10,422,440 9,831,478
June
Vandella
Total lines18985 995 19445 955
East Pitts & E.. June
3,082,018 10157 739
West Pitts & E June
'8068 013 29603 694
All East & Wes June
Pere Marquette__ June
1,342,713 1,299,592 15,986,808 15,995,623
14,150
10,972
155,081
175,075
Raleigh& Southport June
Reading Company4,061,254 4,025,723 41,841,579 41,488,387
Phila & Reading_ May
Coal & Iron Co__ May
9,956,714 2,083,331 32,212,421) 31,239,235
Total both cos_
7,017,988 7,009,054 74,054,008 72,727,602
May
Rich Fred & Potom May
241,110 245,850 2,165,018 2,101,475
881,019
75,144
81,177
823,523
Rio Grande June__ April
52,305
13,770
16,946
42,185
Rio Grande South__ 4th wkJuly
6,140,400 6,040,869 68,487,473 66,220,579
rfock Island Lines__
June
306,920 279,570 3,437,318 3,208,717
Rutland
129,508 133,752 1,704,315 1,631,739
St Jos tiO Grand Isl_ June
3,317,073 3,145,806 43,159,227 41,165,939
St Louis & San Fran June
905,401 940,738 12,281,344 11,750,355
Chic & East Ill_ June
172,977 211,943 2,599,065 2,471,175
Evadsv & Ter H Jude
4,395,511 4,298,488 58,030,637 55,387,471
June
Total all lines_
159,709 180,995 2,008,623 1,974.243
Sib Rocky Mt & P. June
St Louis Southwest_ 1st wk Aug 205,079 211,460 1,025,857 1,121,936
834,312 488,930 8,423,197 6,092,822
San Ped L A & S L_ June
Seaboard Air Line__ 4th wkJuly 446,131 427,990 1,579,632 1,502,245
10480 737 11294 413 132620 539 135022 607
Southern Paelde Co June
Southern Railway__ 4th wkJuly 1,472,663 1,494,174 4,651,012 4,786,851
Mobile & Ohio... 4th wkJuly 306,466 282,865
897,133
838,272
752,839
Cin N 0 & T Pac 4th wkJuly 261,953 247,868
743,154
357,410
Ala Great South_ 4th wkJuly 128,568 131,008
353,383
80,398
62,528
190,840
191,993
Georgia Sou& Fla 4th wkJuly
1,889
2,353
9,068
7,555
Tenn Ala & Georgia 3d wk July
Texas & Pacific.... 1st wk Aug 263,236 254,212 1,364,010 1,387,227
7,746
91,706
9,298
83,942
Tidewater ec West_ June
36,216
41,330
101,837
93,903
Toledo Poor & West 4th wkJuly
75,621
399,831
363,963
80,845
Toledo St L & West 1st wk Aug
7,463
85,349
90,007
7,795
Tombigbee Valley_ June
7,127,602 7,508,953 88,983,108 90.228,02
Union Pacific Syst_ June
131,830
90,587 1,393,448 1,196,194
Virginia & So West June
‘Vabash
1st wk Aug 594,651 601,177 3,018,481 2,945,608
607,345 647,823 6,593,981 6,492,179
Western Maryland_ May
500,296 645,191 6,800,707 6,950,437
Wheeling & Lake E.June
62,668
52,517
538,037
980,691
Wichita Falls & NW May
16,990
302,287
15,217
WrIghtsv 1 Penn..:June
328,697
700,889 671,619
671,619
Yazoo & Miss Valley!July
700,889
Period.
Various Fiscal Years.
Jan
Delaware & Hudson
N Y Central & Hudson River e_ Jan
Lake Shore do Michigan South Jan
Jan
Lake Erie & Western_n
Chicago Indium & Southern_ Jan
Jan
Michigan Central
Cleve Cin Chicago 53 St Louis Jan
Jan
Peoria & Eastern
Jan
Cincinnati Northern
Pittsburgh & Lake Eric
Jan
New York Chicago & St Louis Jan
Toledo & Ohio Central
Jan
Total all lines
Jan
Pennsylvania Railroad
Jan
Baltimore Chesap & Atlantic_ Jan
Cumberland Valley
Jan
Jan
Long Island
Maryt'd Delaware & Virginia_ Jan
Jan
N Y Philadelphia & Norfolk
Jan
Northern Central
Philadelphia Halt & Wash.._ Jan
,Jan
West Jersey & Seashore
iJan
Pennsylvania Cotnpany
Jan
Grand Itapids & Indiana__
Pitts Cincin Ohio & St Louis...'Jan
!Jan
Vandella
Total lines-East Pitts & Erie Jan
West Pitts 53 Erlel.lan
All lines E & W_rJan
'Dec
Rio Grande Junction
Jan
Rutland
Jan
Texas & Paola()
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Current
Year.
Previous
Year.
June 80 10,224,010 59,567,616
June 30 48.803,683 48,970,799
June 30 22,145,043 23,713,128
June 30 2,524,167 2,570,881
June 30 1,872,848 1,925,758
June 30 14,059,414 13,987,403
June 30 14,425,885 14,181,268
June 30 1,561,278 1,591,753
383,956
June 30
540,683
June 30 6,937,297 8,183,619
June 30 5,391,805 5,449,523
June 30 2,108,274 2,165,087
June 30 120978 355 121429 790
June 30 75,325,081 78,5.48,872
104,575
105,258
June 30
June 30 1,391,284 1,491,743
June 30 4,683,394 4,314,002
47,588
June 30
48,974
June 30 1,598,446 1,692,570
June 30 6,207,802 6,138,270
Juno 30 9,119,338 9,062,568
June 30 2,587,385 2,424,492
June 30 22,839,409 25,767,843
June 30 2,345,158 2,423,022
June 30 18,051,613 19,728,677
June 30 4,769,995 4,875,928
June 30 106903 539 109873 231
June 30 49,983,445 54,831,456
Juno 30 156868 984 184704 687
389,794
345,393
April 30
Jude 30 1,573,828 1,478,342
Aug 7 8,297,384 8,817,901
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Mien; Yeariprev's Year! Inc. or Ds.
Monthly Summaries.
-----5
Mileage Curl. Yr. Prey.Yr.
$
941,215 237,835 263,464,605 280,821,546 4-2,643,059 1.01
--508,343 3.84
Ootober
Id week May (42 roads)_..... 12,714,017 13,223,359
4-994,850 0.50
November_241,272 237,545 248,559,120 247,564,470
4-39.252 0.21
4111 week May (47 roads)____ 19,088,495 19,029.243
December _241,334 238,083 238,835,301 220,870,151 4-15.005.153 7.23
--206,301 1.57
1st week June (43 roads).....„ 12,949,549 13,155,850
--330,747 2.40 January __242,479 238,866 215,057,017 210,803,247 4-4,248,770 2.01
Ed week June (43 roads)___ 13,444,268 13,773,015
February .._242.640 238,593 199,035,257 202,492,120 -3,456,863 1.78
--111,215 0.81
Id week June (41 roads)___ 13,605,015 13,716,230
242,686 238.941 228,997,481 238,335,609 -11,339,128 4.78
March
4-538,378 2.94
,4th week June (46 roads)._ 18,934,412 18,396,034
242,933 239,132 218,177,123 225,700,311 --7,523,688 3.3$
April
4-302,180 2.36
:let week July (43 roads)____ 13,136,803 12,834,623
232,503 226,442,818 231,056,898 -4.624,078 1.99
236,230
13,374,761
May
4-380,870 2.92
.2cl
d week July (43 roads)___ 13,764,831
190,925 187,778 187,627,3031193,299.487 --5,672,164 2.93
week July (45 roads)._ 13,803,219 13,471,039
4-331,280 2.46 June
87,624 65,815,948, 63,684,818 4-2,151.130 3.39
89,573
4-919.628 5.02 July
'4th week July (43 roads) _ _ _ _ 19,242,825 18,322,999
a Mexican currency. e Includes the New York & Ottawa, the St. Lawrence & Adirondack and the Ottawa 81 N. Y. By., the latter of w blob
Includei
Evansville 53 Indiana RR. g Includes the Clevebeing a Canadian road, does not make returns to the Inter-State Commerce Commission. f
Mason City & Ft. Dodge ant Wisconsin Minn°.
and Lorain & Wheeling By. In both years. n Includes tho Northern Ohio RR, p Includes earnings
Clnoinnati
from
Nov. 1 1909. 1 Includes the Mexican InterFrankfort
&
July
1
1909
and
the
Atlantic
from
Includes
Louisville
&
ota ea Pa01110. a
ational from July 1910. u Includes the Texas Central.
Weekly Summaries.
Cuent Year Prey's Year Inc. or Dec.
or
404
THE CHRONICLE
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the fourth week
of July. The table covers 43 roads and shows 5.02% increase in the aggregate over the same week last year.
.
Fourth week of July.
1911.
1910.
Increase. Decrease.
$
$
$
Alabama Great Southern
128,568
131,008
Ann Arbor
58,642
48,641
10,001
Atlanta Birmingham & Atlantic
79,162
68,683
5,479
Buffalo Rochester & Pittsburgh
313,177
271,873
41,304
Canadian Northern
427,700
360,600
67,100
Canadian Pacific
2,905,000 2,752,000 153,000
Central of Georgia
308,300
314,600
Chesapeake & Ohio
965,285
982,614
Chicago & Alton
357,734
320,428
37,306
Chicago Great Western
258,833
237,742
21,091
Chicago Ind & Louisville
180,697
179,501
1,195
Cinc New Orl 43; Texas Pacille
261,953
247,868
14,085
Colorado & Southern
375,436
441,911
Denver & Rio Grande
657,200
675,400
Detroit & Mackinac
31,278
31,315
Detroit Toledo iSe Ironton
47,138
51,682
Duluth South Shore & Atlantic_
94,683
108,305
(1.:orreia Southern & Florian_ _ _ _
62,523
60,393
2,128
Grand Trunk of Canada
Grand Trunk Western
1,339,472
719,087 620,435
Det Grand Haven & Milw_ _
Canada Atlantic
International & Great Northern
205,000
230,000
Interoceanic of Mexico
257,556
252,471
5,085
Iowa Central
76,332
73,274
3,058
43,591)
Kansas City Mexico & Orient__
50,085
Louisville & Nashville
1,356,575 1,380,240
Mineral Range
18,816
18,806
10
Minneapolis & St Louis
107,285
111,110
Minneapolis St Paul & S S 11,1_1
632,815
551,767
81,048
Chicago Division
Missouri Kansas & Texas
759,918
776,252
Missouri Pacific
1,397,000 1,425,000
Mobile & Ohio
306,466
282,865
23,601
National Railways of Mexico
1,704,890 1,688,390
66,500
Nevada-California-Oregon ____
9,458
9,042
Rio Grande Southern
13,770
18,946
St Louis Southwestern
264,820
308,397
Seaboard Air Line
446,131
427,990
18,141
Southern Railway
1,472,663 1,494,174
Texas & Pacific
379,247
384,921
Toledo Peoria & Western
41,330
36.216
5,114
Toledo St Louis & Western_
97,366
80,274
17,092
Wabash
803,813
770,313
33,500
LI
Total (43 roads)
_ 19,242,625 18,322,999 1,226,274
Net increase (5.02%)
919,626
$
2,440
6,300
17,329
[Void. Lxxxxm
-Int., Rentals, ctc.- --Bat. of Net Earns.
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Bridgeton & Saco River June
631
676
630
746
July 1 to June 30
7,529
7,289
6,878
7,358
Cuba RR
Jane
57,580
36,667
64,161
73,917
July 1 to June 30
576,755
435,210
672,089
797,316
Duluth So Sh & Atl_ _ _ _June
105,583
113,593 xdef20,199 zdef5,355,
July 1 to June 30
1,161,514 1,173,2.53.rdef220,465 zdef81,824
Loulsv Rend & St L__ _June
23,601
21,352 idef9,681 xde16,649
July 1 -to June 30_ _ ._
217,016
204,574
x16,765
x93,300.
Mineral Range
June
11,480
11,694 zdef2,487 zdef5,424
July 1 to June 30
151.684
167.508 zdef95,317 xdef69.762
Norfolk ‘Se Western_ __ _June
501,157
561,748
x507,495
x730,467
July 1 to June 30
6,112,867 5,694,050 x7,740,379 x9,043,163
Roads.
x After allowing for other income received.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
66,475
18,200
37
4,544
13,622
Name of
Road.
Latest Gross Earnings.
Week or
Month.
Current Previous
Year.
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
$
!
American Rye Co
June
359,547 337,404 1,942,883 1,842,144
Atlantic Shore Hy _ _ _ May
26,660 25.357
103,365
111,339
cAur Elgin & Chic By June
161,382 151,851
801,217
788,770
25,000 Bangor Ry & Elec Co June
49,580 45,707
264,649
255,306Baton Rouge Elec Co June
0,869
8,942
52,081
56,172
Binghamton Railway June
33,517 32,269
170,957
167,551
224,986 218,255 1,134,227 1,069,370
6,495 Birth Ry. Lt & Pow_ May
23,625 Brock & Plym St Ry June
10,973 10,418
50,514
49,439
Bklyn Rap Tran Sys.. April
1835,006 1735,105 6,977,751 6,601,890
27,427 25,755
3,825 Cape Breton Elec Co June
152,135
147,548
Carolina Pow & Lt Co June
20.420
18,297
132,884
115,531
Cent Pk N & E Itiv__ April
60,026 53,036
190,879
191,437
16,334 Central Penn Trac_ 'June
78,324 73,952
413,874
393,747
28,000 Chattanooga fly & Lt June
77,910 72,714
445.955
408,428
Cleve Painesv & East June
35,765 33,261
163,717
153,573
Clev Southw & Col jJune
99,637 91,357
520,167
474,176
484 Columbus (Ga) El Co June
39,554
37,294 • 235,584
212,932
Coney
Island
&
Bkiyn
April
3,176
110,399 106,794
404,564
392,301
43,577 Dallas Electric Corp June
122,110 114,514
768,949
682,282
Detroit United Ry_ _ 1st wk July 218,302 206,065 4,986,351 4,550,132
21,511 DDEB& Batt(Rec) April
50,656 51,887
196,016
199,690
5,674 Duluth-Superior Trac!June
96,225 95,340
535,077
511,641
East St Louis & Sub !June
185,736 200,553 1,091,720 1,119,353
El Paso Electric_
June
52,470 45,224
334,035
309,238
Fairm & Clarks Tr Co June
64,512
51,057
336.325
269 775
42dStM&SN'Av (Bee) April
125,222 111,974
464,268
421,828
306,648 Galv-Houston El Co_ June
134,934 109,083
609,130
712,292
Grand Rapids Ry Co June
101,647 99,952
553,360
530,823
Havana Electric Co_ _ Wk Aug 6 48,021
45,289 1,410,551 1,282,370
Honolulu Rapid Tran
tie Land Co
April
30,332 36,125
Net Earnings Monthly to Latest Dates.-The table fol156.115
115.263
Co'Frac Co June
26,940 26,751
144,468
150,995
owing shows the gross and net earnings of STEAM railroads Houghton
Hudson & Manhattan June
375,870 324,169 2.290,153 1,967.378
Illinois Traction Co_ _ May
reported this week:
535,213 472,255 2,714,140 2.365,773
Interboro Rap Trans_ May
2622,791 2571,716 13,117,583 12,741,758
-Gross Earnings
Net Earnings
- Jacksonville Elec Co.. May
47.625 46.720
245.427
237.059
Current
Previous
Current
Previous
Lake Shore Elec Ry_ June
113,950 103,533
558,586
526,728
Roads.
Year.
Year.
Year.
Year.
Long Island Electric_ April
14,935 14,653
53,681
49,978
5
$
3
Metropolitan St(Bee) April
8
1120,081 1099,835 4,314,224 4,223,785
Baltimore & Ohio_b
_June 7,461,709 8,088,755 2,261,780 2,548,505 Milw El Ry & Lt Co. June
418,823 388,174 2,401,314 2,249,473
July to June 3088,145,004 88,901.252 25,378,937 27,567,452 Milw Lt, Ht & Tr Co_ June
103,839 96,072
489,332
457,094
Montreal
Ry_ _ June
432,026 384,564 2,308,878 2.0(15,357
Bangor & Aroostook_ __June
227,028
277,046
130,440
77,604 Nashville Street
Ry & Light June
157,570 157,427
952,118
887,954
July 1 to June 30
3,173,112 2,990,530 1,169,340 1,205,240 New
Orleans By & Lt June
3,337,433 3,142,294
Boston & Maine_b__ _June 3,863,030 3,664,201
435,119
584,540 N Y City Interboro_ _ April
18,404
22,936
85,435
62,802
44,815,084 43,857,175 9,666,381 12,020,851 N Y & Long Island Tr April
July 1 to June 3030,716 27,543
105,477
91,888
N Y & Queens County April
Boston Revere Beach & Lynn b96,757 84,230
300,656
346,839
Norf
&
Portsm
'Fr Co May
April 1 to June 30
238,047
248,708
171,813 160,492
29,915
24,240
826.450
765.607
Northam Easton & W May
15,185 14,505
03,791
Bridgeton & Saco River.June
4,455
4,922
1,261
1,422 North Ohio Trac & Lt
June
245,097 221,673 1,222,075 1,087,335
July 1 to June 30
51,633
51,907
14,407
14,647 North Texas Elec Co_
June
136,061 120,964
775,004
677,620
Chicago & Alton_a
June 1,287,023 1,098,816
8340,550
3397,679 Northwest Elev Co June
176,820 181,760 1.101,680 1,096.218
14,592,519 13,358,475 33,723,279 84,270,834 Ocean Electric (L I- April
July 1 to June 30
4,734
4,917
15,326
13,691
Chic Milw & StP_b__ _June 5,182,263 5,567,339 1,915,600 2,082,958 Oklahoma City By June
57,105 61,397
289,313
301,207
64,975,905 64,846.894 17,922,276 20,055,896 Paducah Tr & Lt Co_ June
July 1 to June 3020,647
19,740
119,370
126,482
Pensacola
Electric Co June
24,741
138,848
31,762
127.786
Chic Milw & Pug Sd.b.June 1,263,852 1,171,592
599,490
524,729 Port(Ore)Ry,L&PCo. June
554,767 478,879 3,114,812 2,045,612
14,516,367
July 1 to June 30
6,226,239
Puget Sound El Co.._ May
148,828 169,190
712,456
761,475
Cornwall_b
June
16,588
17,378
Richmond
Lt le RR April
7,966
8,906
24,488 23,324
91,548
86,352
July 1 to Jude 30
168,291
203,697
78,226
106,665 Rio de Janeiro Tram
lc Power Co_ June
1071,964 945,454 6,107,773 5,042,737
Cuba RR
June
262,954
226,198
121,741
110,584 StLight
Joseph (Mo) Ry.I.4
July 1 to June 30
3,059,650 2,559,336 1,374,071 1,107,299
Heat & Power Co_ _ June
95,021
85,401
530,322
494,015
Duluth So Sh & Atl_ b_ _June
295,698
302,980
79,688
99,351 Sao Paulo Tr, L & P_ June
282.558 241,858 1,684,253 1.387.425
July 1 to June 30
3,148,818 3,302,147
879,477 1,032,890 Savannah Electric Co Tune
59,927 53,610
330,264
300,574
Lexington & Eastern_ b.June
433,701 447,676 2,690,612 2,736,190
51,016
54,392
14,626
30,249 Seattle Electric Co June
July 1 to June 30
68,756 67,072
532,849
484,620
254,085
157,158
246,399
161,891 Second Avenue (Bee) April
Southern Boulevard_ April
9,194
8,488
33,304
29,913
Louisv Rend & St L_a_June
95,656
96,419
12,865
14,209 Sou Wisconsin Ry Co June
18,318
16,240
93,381
85,290
July 1 to June 30
1,214,693 1,176,869
228,201
291,845 Staten Isl Midland
17,625
17,226
April
63,818
60,856
Mineral Range_ b
June
59,808
82,738
8,164
5,042 Tampa Electric Co June
56,812 49,895
334,784
312,384
July 1 to June 30
746,425
836,500
38,888
289,753 291.206 1,131,015 1,139,545
87,830 Third Avenue (Ree)- April
Nashv Chatt & St'L_b_June 951,998 1,026,249
209,326
265,015 Toledo Rys & Lt Co.. 4th wkJuly 49,159 48,238
July 1 to June 30
401,186 364,795 2,246,040 2,037,853
•
12,323,863 11,637,204 3,043,903 3,199,945 Toronto Ily Co
June
Tri-City RN,& Light_ June
209.965 199,685 1,311,421 1,193.525
Norfolk & Western_ b_ _Jun.e 2,895,610 3,001,923
886,609 1,078,115 Twin City Rap Tran_ 9th
wkJuly 213,319 213,066 4,484,454 4,257,806
July 1 to June 30
35,557,522 35,063,870 12,599,242 14,017,111 Underground
El By
Pacific Coast
June 678,156
720,264
of
117,243
London115,829
July 1 to June 30
.
7,798,730 7,903,148 1,328,980 1,512,471)
Three tube lines__ _ Wk Aug 5 £11,200 £11,500 4434,655 £403,779
Metropolitan Dist_ Wk Aug 5 £10,186 £9,944 4368,700 4340,249
Rutland_b
June
306,920 279,570
102,937
88,983
United Tramways_ Wk Aug 5 £7,383 £9,594 £202,989 £195,902
Jan 1 to June 30
1,573,828 1,476,342
353,837
391,816 Union
(11ee)
April
181,333 164,716
668,414
611,475
St Louts & San Fran_b_June 3,317,073 3,145,806 1,316,268
068,752 UnionRy,G &ECo
237,408 210,137 1,518,456 1,431,020
June
July 1 to June 30
43,159,227 41,165,939 13,838,828 12,489,097 United Rye of St (Ill)
L June
1030,294 996,263 5,825,239 5,602,064
Chic & Eastern Ill_b_June 905,461
940,738
328,955
627,469 605,180 3,821,135 3,754,861
363,256 United nits of San Fr June
July I to June 30
12,281,344 11,750,355 3,936,880 3,796,371 Westchester El (Bee) April
45,142 37,627
164,171
135,378
Whatcom Co fly & Lt June
29,385 30,46
184,619
200,380
Evansv & Terre II _ b_June
211,943 def22,345
172,077
79,728 Yonkers RR (Rec)
April
198,500
54,214
July 1 to June 30
2,599,065 2,471,176
845,031
948,231 Youngst de Ohio
fly_ June
108,164
19,840 16,577
92,624
Total all lines_ b
June 4,305,511 4,298,488 1,622,877 1,401,736
July 1 to June 30
58,039,637 55,387.471 18,620,739 17,233,699
These
figures
e
are
foe
consolidated
company.
Seaboard Air Lineta_June 1,714,664 1,594,673
475,049
403,008
July 1 to June 30
21,782,005 20,068,772 6,483,438 6,164,293
Electric Railway Net Earnings.-The following table gives
Tol St Louis & West_a_June
306,306
317,785
p58,704
p89,707 the returns of ELECTRIC railway gross and net earnings
July 1 to June 30
3,777,677 3,772,636 p998,612 p1,222,717 reported
this week. A full detailed statement, includin)3 all
Wabash_b
June 2,502,647 2,547,343
540,753
623,582
July 1 to June 30
29,884,032 28,886,051 7,517,852 8,350,831 roads from which monthly returns can be obtained, is given
• a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
p For June miscellaneous charges and credits to income were $594 credit,
against $166,373 In 1910, and for period from July 1 to June 30 were $81,321
credit in 1911, against $533,067 111 1910.
s After allowing for miscellaneous charges to Income for the month of
June 1911, total net earnings were $304,915, against $403,705 lest year, and
for period from July 1 to June 30 were $3,009,883 this ycer, against $3,803,999.
once a month in these columns, and the latest statement of
this kind will be found in the issue of June 10.
-Gross Earnings- ---Net Earnings
Previous
Current
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
s
Cleve Painesv & East_a_June
33,261
35,765
17,029
16,159
Jan 1 to June 30
163,717
153,578
71,761
69,741
Lake Shore Eke Ry_a_ _June
103,533
113,950
55,788
51,289
Jan 1 to June 30
526,728
558,586
245,456
228,030
Interest Charges and Surplus.
Milw El By & Lt Cob..June
388,174
418,823
191,081
180,281
Jan 1 to June 30
-Int., Rentals, &c.-- -Bat. of Net Earns.
2,401,314 2,249,473 1,092,670 1,006,229
Current
Previous
Current
Milw Lt lit & Tract_b_June
Previous
103,839
96,072
59,890
55,080
Roads.
Year.
Year.
Year.
Year.
Jan 1 to June 30
489,332
457,094
238,527
256,649
3
3
5
$
Bangor & Aroostook__ _June
115,880
93,353
x30,354
x6.137
a Net earnings here given are after deducting taxes.
July 1 to June 30
1,179,965 1,020,648
x168,004 z357,334
b Net earnings here given arc before deducting taxes.
Roads.
405
THE CHRONICLE
AUG. 19 1911.1
Louisville Henderson da U.Louis By.
1911.)
Interest Charges and Surplus.
(Statementfor Fiscal Year ending June 30
-Int., Rentals, &c.- -Bal. of Net Earns.
Previous
Current
Previous
REVENUES, EXPENSES, &c.
Current
Year.
Year.
Year.
Year.
Roads,
1909-10.
1910-11.
$
$
$
Revenues7,981 Freight revenue
8,916
705,539
8,173
730,686
8,113
Cleve Painesv 6: East_ _June
21,665 Passenger revenue
22,844
395,905
48,076
401,773
48,917
Jan 1 to Juno 30.
23.112
23,034
16,538 Mail revenue
21,163
34,751
34,605
Lake Shore Eke By_ _ _ _June
29,766
31,610
19,420 Express revenue
37,454
208,610
208,003
Jan 1 to June 30
17,027
15,944
revenue
Other
transportation
x73,515
x68,983
111,039
127,875
_June
Milw Elleo Ry &
5,519
11,640
x379.175 Other than transportation
x418,714
660,798
722,914
Jan 1 to June 30
x28,229
x30,836
71,774
74,116
1.176,869
1,214,613
Total
Mivr Lt Ift & Tract__ _ _ Jane
x151,826 x114,066
409,859
419,952
Jan 1 to June 30
Expenses279,439
309,824
Maintenance of way and structures
169,027
140,590
x After allowing for other income received.
Maintenance of equipment
47,172
Traffic expenses
381,537
401,4071
Transportation expenses
32,088
34,611
General expenses
ANNUAL
.REPORTS,
Annual Reports.-An index to annual reports of steam
•railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of July 29. The next will appear in that of Aug. 26.
"Union Pacific Railroad.
(Estimate of Income for the Year ended June 30 1911.)
RESULTS FOR THE SYSTEM FOR THE FISCAL YEAR.
1908-09.
1910-11.
1909-10.
$88,983,108 $90,228,002 $78,750,461
Oroas revenue'
53,269,867 50•,203,257 40,515,647
Operating expenses and taxes
Operating income
Income from investments
Other income
$35,713,241 $40,024,835 $38,234,814
15,986,906 16,562,061 15,830,962
1,905,431
2,949,990
2,400,088
Total Income
Fixed and other charges
$54,109,237 $59,530,887 $55,971,207
14,080,284 14,031,196 14,372,806
Income in excess of charges
Preferred dividends (4%)
$40,026,953 $45,505,690 $41,598,401
3,081,824
3,981,744
3,982,000
1908-09.
5
586,102
372,699
22,000
19,487
16,788
5,671
1,023,737
241,681
95,622
42,292
3344269:2586
Total'
Net operating revenue
Outside operations
948,515
266,178
2,328
849,263
327,606
3,408
756,350
257,387
2,581
Total
Taxes accrued
268,505
37,977
331,014
35,761
269,968
32,650
Operating income
Other income
230,529
3.252
295,253
Len
237,318
1,408
Gross corporate income
DeductionsHire of equipment
Milt facilities
Miscellaneous rents
Interest on bonds
Miscellaneous
233,781
297,874
238,718
51,005
37,356
125,000
3,655
35,421
130,269
11,690
125,000
2,194
29,736
29,689
11,5:52
125,000
1,911
217.016
16,765
204,574
93,300
20(1,908
37.810
Total deductions_ __ Balance, surplus
-V. 91, p. 788.
1
1
Republic Iron & Steel Co., Youngstown, Ohio.
(Report for Fiscal Year ending June 30 1911.)
Chairman John A. Topping says in substance:
Income.-The net income for the year may be regarded as satisfactory,
considering the general condition of business that prevailed. Substantial
Increases in profits would have been realized under normal trade conditions:
on account of increased producing capacity and improved methods.
The net profits were also reduced by an Increase in fixed charges incident
06,047,209 $41,523,690 $37,610,577
Surpins for common stock
to financing the construction of the new steel works and blast furnace,
19,678,327
21,703,865
(10%)
.21,700,000
stock
Divs, on corn.
which did not contribute to3tross incom.:, as these improvements were not
of their incomplete state. [There was
'Supplied by "Chronicle," not furnished by company-believed to be operated during the year,on account
a net increase of $3,265,000 in the 10-30-year 55, making $10,755,000 outapproximately correct.
standing June 301911. Compare V.93, p. 51; V.92, p. 1182; V.90. p.854.]
While the gross volume of business as compared with the preceding year
The $36,047,20g available for common stock dividends
substantial shrinkage, no curtailment of expenditures for maintewere derived as follows: $17,651,213 from transportation shows
nance and repairs was made, and full charges were maintained for debreoperations, equivalent to 8.15% on common stock, and elation, extinguishment and for the general provisional funds.
The net profits from operations were $3,008,034, as compared with
$18,395,996 income from investments, equivalent to 8.49% $3,325,522
the year preceding. The net surplus after payment of interest
on common stock, making a total of /6.64% earned on the on bonds and notes and the full 7% dividend on the 'preferred stock was
$672,519. The total surplus June 30 1911 was 0,362,446, as compared
common stock.-V. 93, p. 46.
with 0,951,660 for the preceding year.
Net current assets now stand at $10.729,103(contrasting with $12,785.590
Southern Pacific Company.
in 1910, $7,809,901 in 1909 and $6,713,821 in 1008.-Ed.1.
&c.-The new steel works and additional blast furnace caAdditions,
1911.)
30
June
ended
the
Year
for
Income
of
(Estimate
pacity is now in operation and will materially add to the production of
There will also be ready for operation during the next
arsuLTs FOR FISCAL YEAR, INCLUDING PROPRIETARY COS. steel and pig iron. sheared
plate mill and a modern continuous merchant
six months a new
1908-09.
1900-10.
1910-11.
the
9,626.43 mill, which will not only add to the diversity of product but increase
9,760.73
9,899.52
Average miles of road operated
make substantial additions to the profit
should
and
capacity,
finishing
operations
Transportation
fully
financed.
arc
construction
of
items
new
All
these
account.
-132,620,530 135,022,607 120,521,909
Gross operating revenues
New Construction and Property Additions.-Addltions to the property
89,855,561 87,784,222 79,584,375
Operating expenses and taxes
account during the year aggregated $5,938,858 (contrasting with $3,654,039
1909-10 and with $160,186 [net] in 1908-09). Total new construction to
in
Revenue over expenses & taxes__ _ 42,764,978 47,238,385 40,937,534
June 30 1911, $21,028,721, viz.: (a) Northern district-Blast furnaces.
Income other than from transportaBessemer steel plant, $3,347,866; open-hearth steel works,
$3,975,135
5,197,722
6„260,840 a6,119,180
tion operations
$4,325,111 tube works, $1,077,166; rolling mills, 32,134,257; coke plank;
Northern mines, $1,321,777: general office bldg., $138,372.
$1,040,242
46,135,256
49,025,818
53,357,565
Total
at blast fur23,304,384 22,530,670 19,320,315 (b) Southern district--Blast furnaces, $1,809,951; coke ovens
Deduct fixed and other charges
slues.$176,917; tenant houses, $58,341; rolling mills, $114,916; mines and
$127,070.
quarries,
limestone
$1,381,594;
ovens,
coke
25,721434
26,814,941
dividends
30,826,895
Surplus for
New Works.-The new open-hea21....' steel plant, consisting of a mixer.
bdone
4,092,106
None
Pret. stock dividends.(7%)
16,359,679 16,359,679 12,344,604 eight 60-ton open-hearth furnaces, a blooming and slabbing mill and a comCommon stock dividends(6%)
continuous sheet bar and billet mili, was put La operation in June
bination
excont,
stock
on
Div. paid Oct. 11909
29,11, and at the present time is operating to about 75% of capacity. The
changed for pref. tit°ek and cony.
far shown indicate that the estimated full production of 30,000
so
results
and
1
Oct.
109
July
878,214
between
bonds
tons of ingots per month will in a few months be exceeded.
On Nov. 4 1910 the construction of a 14-16-inch continuous bar mill was
9,361,756 13,589,003
9,478,231
Balance, surplus
authorized, with an estimated capacity of about 100.000 tons per annum
Material and skelp, adjacent to the new open-hearth
a This amount (0,119,180) does not include an extra dividend of $4,- of bars, structuralwhich
should be in operation in October next, will take
590,000 received In the year 1900-10 on Wells, Fargo & Co. stock. The plant. This mill,
manner and at lower costs, the material now being
efficient
an
in
of,
care
outstanding
Sou.
equal
to
the
Pee.
was
Co.
1.68%
on
stock.
last named sum
mills. On Jan. 17 1912 the construction of a 90hand
ii The $74,756,765 pref. stock waa called for payment on July 15 1909 rolled on inefficient
inch sheared plate mill was authorized. It will have a capacity of about
And practically all exchanged for common stock.
will provide sheared plates for our larger sizes
and
month
per
5,500
tons
of
by
as
amount
editor
c Not given in official statement but supplied
of pipe, as well as for the general trade. It should be in operation In Nov.
.stock remains unchaneed,
of
-A further increase in the company's ore
and
Iron
Coal.
Ore
Reserves
Stock
($272,600,000).
on
Earned
Surplus
Capital
of
Cent
Outstandiag
* Per
reserve has resulted from our development work.
1910.
1911.
Development and improvement of the coal and coke properties, both
9.06%
7.14%
From transportation operations
North and South, hati been continued. Fifty additional coke ovens have
Income other than from transportation operations ____ 2.29% a2.25`ie been
completed, and 12 double tenement houses erected at the Martin works.
- --The coal reserves heretofore reported have been based on estimates for
Total ... -------------------------------------- 9.43% 11.31% the
land. During the past fiscal year, drilling of all of the comunexplored
-V. 93,p. 46.
pany's coal properties have been completed, and the figures shown as of
June 30 1911 are based on actual drill records. The heavy shrinkage in
Norfolk & 'Western By.
coal reserves Is due to the fact that considerable acreage heretofore estito contain coal was found upon actual drilling to contain no coal of
(Preliminary.Statement for Fiscal Year ending June 30 1911.) mated
a workable character.
EARNiNGS, EXPENSES AND CHARGES.
in prices noted
.
Unfilled Orders.-The slackening in sates and weakness
1908-09.
1910-11.
1009-10.
in the last annual report became more pronounced during the first half of
1,941 this fiscal year, the calendar year 1910 closing with iron and steel markets
2,004
1,951
Average miles operated
.
much unsettled, with production In most classes on a steadily declining
Earnings15,130,111 $4,615,724 $4,445,781 basis, low ebb being reached early in May 1911, at which time competition
Passenger, mall and express
24,881,320
30,427,411
30,248,146
became decidedly aggressive. To meet this situation, we made substantial
Freight
price rednellene followed shortly thereafter by a general reduction in
*35,557,522 $35,063,870 $29,327,101 prices by all other manufacturers, covering all lines of iron and steel, which
Total earnings
action stimulated confidence In values anu started a buying mavement of
Operating ExpensesMaintenance of way and structures_ $4,328,717 $3,752,045 $3,331,888 sufficient proportions to enable us to place in operation thenew open-hearth
4,910,435 steel works and Haselton blast furnace No. 4, recently completed.
6,638,842
5,951,007
Maintenance of equipment
487,106
The unfilled tonnage of orders on hand (see below) is in excess of that
586,716
551,806
Traffic expenses.,
8,346,992 reported for the year preceding, and It is believed, with business booked
10.672,624 10,069,726
Conducting transportation
644,335, and the tonnage In prospect, that the gross volume for the coming year
721,275
731,381
General expenses
Should'be substantially increased.
,Steamships.-The company has recently caused to be incorporated the
Total expenses
$22,958,280 $21,046,759 $17,729,756
$11,597,345
Republic Transportation Co., which will take over 2 modern steel steamships
earnings
$12,599,242
Net
$14,017,111
from the Federal Transportation Co. and 1 modern steel steamship from the
(?)
720,105
1,254,003
Other income
French Transportation Co., which consolidation of interests has been
effected on a basis believed to be favorable to this company and will tend
$13,853,246 $14,737,215
Gross income
(?)
charges
to establish its transportation interest on a more self-contained basis than
$4,792,867 $4,575,086
2,008,800 has heretofore existed. This company will control tho new Transportation
1,320,000
1,118,964
Taxes
919,668
919,668
Dividends on preferred stock (4%).._
919,668 CO. through the ownership of 60% of the stock.
(5)3.600,000 (5)3.294,843 (4)2,578,768
Dividends on common stock
ORE RESERVES (EST.). ORE AND COAL (TONS) JUNE 30.
1907.
1908.
1909.
38,1911.
1910.
(?)
$10,632,585 $9,908,561
• Total deductions
812,467 38,909,693 36,203,140 35,427,796 31,550.500
Ore, North
3,220,710
4,828,055
(?)
/3alance, surplus
88,685,430 89,041,800
88,976,100
88,451,383
88,658,561
Ore.
South
stock
not
in
and
dividend
common
Is
1910-11
of
approximate
Amount
24,190,440 24,612,462 13,350,928 13,612,100
official. Some of the items after net earnings in 1009-10 having been Coke coal, North 22,723,093 68,048,276
91,040,197 91,760,807 92.338,80
changed from the figures appearing in last year's pamphlet report, compari- Coke coal, South 66,074,382
6.818,21n
16.8111.210 16,818,210 12,500,000 12,500,00
Nor-1
Steam
coal,
are
1908-09
the
in
in
year
the
items
items
impracticableand
sons with those
81,203,400 81,203,400 81,203,40
57,974,480
Steam coal. Sou_15,855,820
1908-09 are therefore omitted.-V. 92, p. 882.
Fixed
(?;
406
THE CHRONICLE
,---
[VoL. Lxxxxm.
• Coking capacity June 30 1911: North, 784 ovens, capacity 548,000 tons
The company has a contingent liability for notes receivable endorsed
per annum; South, 1,010 ovens, capacity 606,000 tons; total capacity,
and for acceptance of drafts of subsidiary cos., amounting to $4,167,801.
1.154.800 tons, against 1,046,400 tons in 1910. (For list of rolling
mills, The Bankers Trust Co. as registrar certifies that
furnaces, &c., see V. 85, p. 719.)
the entire amount of
"notes payable" registered by them
outstanding at the close of business
AVERAGE NUMBER OF MEN EMPLOYED, YEARS END. JUNE 30. June 30 1911 is $5,300,000.-V. 92,as
p. 1439.
1910-11.
1909-10.
1908-09.
1907-08.
1906-07.
North
9,476
9,678
6,171
5,895
10,679
South
2,112
2,388
2,169
2,652
3,216
Total
11,588
12,066
8,340
8,547
13,895
Cost of labor
$8,273,630 $8,652,102 $5,700,805 $5,832,632 $8,686,605
UNFILLED ORDERS JUNE 30, SEMI-FINISHED, ETC. (TONS).
RAILROADS, INCLUDING ELECTRIC ROADS.---1
1911.
1910.
1909.
1908.
1907.
1006.
Finished and semi-fin -481,425 341,887 392,420 283,743 448,627
377,349
Algoma
Eastern Ry.-Bonds.-A Canadian paper states
Pig iron
102,077 82,906 94,247 59,196 74,500 74,607
that the underwriters of the issue of 5%gold bonds have had
ANNUAL PRODUCTION IN TONS.
to take up about 85% of the £513,600 offered. Compare
1910-11. 1909-10. 1908-09. 1907-08. 1906-07.
Bessemer steel ingots_ 597,991
681,884 483,430 341,985
546,645 V. 93, p. 227.
Do billets, slabs,&c. 534,537 606,531 427,531
303,328 488,251
Finished & semi-finishArgentine Central Ry.-Receivership.-Judge Riddle in the
ed products_ __
__ 684,553 827,515
565,151
434,230 804,360
Pig iron
850,863 793,962 678,709 494,676 614,954 District Court at Denver on Aug. 3, on application of the
Ore
1,861,185 2,050,224 1,451,434 1,025,460 947,069 Central Savings Bank & Trust Co. of Denver,
mortgage trusCoke
723,859 670,018
592,664
426,963 521,561 tee, appointed
James Q. Newton as receiver, who is authorINCOME ACCOUNT.
ized to issue not over $5,000 of receivership certificates.
1910-11.
1909-10.
1908-09.
1907-08.
Among the chief creditors are stated to be the Continental Trust
Co.;
Gross sales.
24.071,771 28,296,266 19,595,944 18,693,882 National Fuel Co. and London
Guarantee Co.-V. 92, p. 955.
Gross profits
a5,158,162 a5,501,949
3,655,801
4,046,690
Maint. & repairs of plant 1,313,162
Atchison Topeka & Santa Fe Ry.-New Bonds Convertible
1,274,580
8a7,654
1,000,071
into New Common Stock-Purchase of 242 Miles, Mojave to
Balance
3,845,000
4,227,369
2,769,147
3,046,619 Needles, Now
Deductunder Lease-310,800,000 Preferred Stock for
Provision for depr'n and
Improvements on Said Line.-Referring to the call for the
renewal of plants_ _ _ _
600,255
607,582
526,738
519,170
annual
meeting
Oct. 26 Pres. E. P. Ripley, in a circular
Provision for exhaustion
of minerals
235,811
294,265
199,584
118,720 dated Aug. 1, says in substance:
Interest on bonds, &c
586,415
422,606
413,479
437,300
"The line from Needles to Mojave, Cal. (242 miles), is
Net profits
2,422,519
2,902,916
1,629,346
1,971,420 already used as part of our main line, but merely under a
Div. on pref. stock_ _ _ _(7)1,750,000 (7)1,6(59,796 (2)408,338(5;01,071,887
leas9 from the Southern Pacific Co. that expires in 1979. It
Surplus for year
672,519
is considered preferable to secure entire title now when it
1,233.120
1,221,008
890,533
Previous surplus
4,954,661
5,920,535
4,699,527
3,799,994 can be readily arranged.
"Certificates representing $10,800,000 pref. stock were
Total
5,627,180
7,153,655
5,920,535
4,690,527
Arrears of pref. div
1,378,141
deposited by the reorganization committee in 1896 with the
Disc.&exp. acct. new sec. d264,734
765,902
Union Trust Co. to be used for various purposes, including
Adjust of taxes, &a., on
undevel. coal prop's_
54,951
the improvement
'
of the Atlantic
GENERAL INVESTMENT NEWS,
'Net profit and loss sur. 5,362,446
4,954,661
5,920,535
4,699,527
a Gross profits in 1910-11 include $86,302 int. and divs. received,
$154,069 in 1909-10. d Discount and exneise new Issue of mortgageagainst
bonds.
BALANCE SHEET JUNE 30.
[Includes
subsidiary
all
companics
entirely owned and controlled:11
1911.
1910.
1911.
1910.
Assets$
Liabilities- '
$
$
Plant, &c
58,212,415 54,558,375 Common stock _27,191,000 27,191,000
New construction_ 5,938,858 3,654,039 Preferred stock..__25,000,000 25,000,000
Invested in otheral;,-?
First mtge. bonds_ 1,645,000 1,687,000
companies
11 930,852
806,385 10-30-yr. 5% bds_10,755,000 7,490,000
Prepaid royalt es
Haseiton property
& expenditures_ 819,964
788,196
mtge. notes__ 1,475,000 1.475,000
M scellaneous
48,496
4,445 Potter Ore bonds,
Raw and finished
jointly guarant'd 320,500
329,500
materials
7,068,334 6.020,052 Martin Coke Works
Ore contract paybonds and notes 373,382
437,478
ments
686,255
796.845 Acced int. on bds_
177,154
138,456
Accounts and bills
Bal. ore contracts_ 210,801
310,336
receivable
3,245,775 3,789,194 Bills & accts. pay_ 2,483,791 1,957,195
Cash
3,173,082 5,137,742 Reserve funds____ 3,621,569 2,890,244
Dividend warrants 935,790 1,142,148
Accrued taxes____
132,351
112,009
Dividend July 1__ 437,500
437,500
Miscellaneous -2,748
2,746
•
Profit and loss__ 5,382,446 4,954,661
---ItTotal
80,124,031 75,555,273
Total
80,124,031 75,555,273
& Pacific RR.(Albuquerque,
N. M., to Needles, Cal.). It is desirable to render this stock
available on account of expenditures made and to be made
for the improvement of said railroad.
"It seems desirable to take steps at this time to provide
for an additional increase of $100,000,000 in the authorized
common capital stock and to provide for the issue of convertible bonds for that amount or any part thereof, and also
for $289,000 of common stock already authorized but not
used or reserved for other purposes. Ample provision of
this character seems wise, although at this date it is not anticipated that there will be immediate resort to this method
of financing!!
Propositions on Which the Shareholders Will Vote Oct. 26.
(1) Leases, &c.-To ratify the leases to this company of the properties
and franchises of the Kings River Ry, Co., Laton & Western By.
Co. and
Garden City Gulf & Northern RR. Co., and the purchase of
stock and bonds of said Garden City Gulf & Northern RR. Co.the capital
(2) Purchase of Needles-Mojave Line.-To ratify an agreement
the
sale to and purchase by this company of the railroad of the Southernfor
Pacific
RR. Co. extending from the Needles, Cal., to Mojave, Cal., and to approve
the acquisition by this company (if said last-mentioned agreement should
not be made or should not be carried out) of the stock and bonds of a railroad company which may purchase and own said railroad;
(3) General M. 4s for Said Purchase.-To authorize the certification and
delivery, pursuant to Sec. 7 of Art. I of the general mortgage, of such
.• Includes in 1911 fund for exhaustion of minerals, $1,394,380; for de- amount of the bonds reserved
under said section,and not heretofore certipreciation and renewal of plants, $1,418,240; for re-lining furnaces, $257,- fied and delivered, as wil produce
a sum sufficient to acquire (a) said rail/18; for fire and accident Insurance, &c., $436,894; for contingencies, road from Needles to Mojave
(b) the stock and bonds of a railroad comor
5114,937.-V. 03, p. 51.
pany owning said rairoad from Needles to Mojave.
(4) Pref. Stock to Improve Said Line.-To authorize the directors to use
International Paper Co., New York.
from time to time, for the improvement of that portion of this company's
formerly the Atlantic & Pacific RR., any or all of the shares of
(Advance Statement for Fiscal Year ending June 30 1911.) railway
preferred stock,certificates for which are deposited with the Union Trust
of New York, trustee, under the agreement made March 8 1898.
In advance of the President's report, a statement has been Co.
(5) Stock Increase-Provision for Convertible Feature of New Bonds.-To
issued, signed by Asst. Treasurer Owen Shepherd, showing: increase
the capital $100,000,000, such increase to be common stock;
divided
into shares of $100 each, so that the total capital stock shall be
EARNINGS
EXPENSES
• • •
,
AND CHARGES.
$481,486,000, divided into $131,486.000 5% non-cumulative pref. stock
1909-10.
1910-11.
1908-09.
1907-08.
$350,000,000 common stock.
Gross income
$23,095,746 $19,459,030 $18,238,477 $20,716,304 and
(6) To authorize the board at any time or times to create convertible
Cost of raw materials,
bonds not exceeding in the aggregate $100,289,000, each of which bonds
manufacturing, &c
20,208,344 17,278,255 16,456,379 17,878,134 shall
entitle the holder thereof to convert the same into common stock;
Taxes, insur. and int__ _ 1.216,385
1,163,710
1,183,996
1,202,252 such bonds to
contain such terms, conditions, restrictions and
and to have such benefits, if any, of future mortgages, and toprovisions,
Net earnings
be issued
$1,671,016 $1,017,065
$598,102 $1,635,918 and disposed
from time to time upon such terms, as may be authorized
of
Deprec. of mill plants
484,760
by the board of directors.-V.92, p. 1700.
Balance
$1,186,256 $1,017.06
$598,102 $1,635,918
Atlanta Birmingham & Atlantic RR.-Co-receiver.-S. L.
Divs. on pref. stock
(2)448,134 (2)448,134 (2)448.134 (5)1,120,335
Schoonmaker has been appointed co-receiver of the road
Surplus for year
$738,122
$568,931
$149,968
$515,583 with H. M. Atkinson, both with offices at
Previous surplus
Atlanta, Ga.8,099,982
7,531,051
7,381,083
6,865,500
V. 93, p. 43.
Surplus June 30
$8,838,104 $8,099,982 $7,531,051 $7,381,083
Bangor & Aroostook RR.-Report.-Year end. June 30:
WORKING CAPITAL JUNE 30.
Fiscal
Operating
Net
1911.
Hire of
1910.
Dividends Balance;
Total
1909.
YearCurrent assets
Revenue.
$12,695,382 $11,011,637 $11,482,711
Revenue. Equip.(Cr.) Deduc's.
(4%). Surplus.
Current liabilities
6,185,467
5,284,428
6,083,835 1910-11......43,173,112 $1,169,340 $178,629 $1,185,333 $124,584 $38,052
1909-10- 2,990,530 1,205,240 172,742 1,026,803 104,212 246,987
-V. 92, p. 1435.
Current assets in excess of current
liabilities
$6,509,915 $5,727,209 $5,398,877
Bay State Street Ry.-Bonds Called.-Five ($25,000)
BALANCE SHEET JUNE 30.
Assets1911.
1910.
1st M. bonds of the West Roxbury & Roslindale Street Ry.
1909.
Mill plants and water powers
$45,130,410 $45,741,424 $45,634,907 have
been drawn for payment on Sept. 1 at 103 and int. at the
Woodlands
3, 01,8 6
3,532,814
3,617,787
Securities of sundry corporations_ _ _ _ 10,021,857
9,834,511
9,957,712 International Trust Co. of Boston, trustee.-V. 93, p. 285.
Sinking fund
3,311
5,197
53,136
Patents
Boston Elevated Ry.-See West End Street Ry.
5,700
5,760
Furniture and fixtures
12,255
14,626
18,432
Earnings.-For 12 months ending June 30:
Cash
803,792
815,374
774,487
Period. Gross.
Accounts and notes receivable
4,899,189
Net.
3,110,111
0th. Inc. Clag.&DeP. Dividends. Surplus.
3,575,287
Inventories of merchandise on hand
5,028,986
5,320,523
5,860,257 1911._$15,835,965 $5,516,901 $344,742 54,511,182 $1,197,000 $153,460
Interest and discount adjustments._ _
65,810
45,085
598,500
54,491 1910•__ 11,383,636 4,062,290 135,998 3,589,342
10,446
Due_from subsidiary companies
1,720,544
1,897,605
4,183.951
802,503
1,218,190 1909___ 14,493,853 5,005,369
38,914
• For 9 months ending June 30 1910.-V. 93, p. 228. 344,
Total
$71,365,071 570,145,910 $70,770,386
Canadian Northern Ry.-Debenture Stock.-The London
LiabilitiesCommon stock•
$17,442,800 $17,442,800 $17,442,800 Stock Exchange has been asked to list a further issue of
Preferred stock
22,406,700 22,406.700 22,406,700 Z700,000
4% perpetual consolidated debenture stock, showBonds
16,492,000 16,912,000 17,306,000
Notes"and accounts payable
5,773,7893,608,224
4,114,811 ing a total issued of £7,492,750.-V. 93, p. 162.
Acer'd int.,taxes & water rents, not due 299,644
315,743
327,635
Chicago & Alton RR.-Guaranteed Bonds.-See Rutland
Due to subsidiary companies
1,248,427
1,529,356
Dividend July 15
112,033
112,033
112,033 Toluca & Northern RR. below.
Surplus
8,838,105
8,099,982
7,531,051
Dividend on Prior Lien Stock.-The directors on Aug. 8
i,:p•i
• Total
$71,365.071 $70,145,010_370,770,386 declared the semi-annual dividend of 2%,
due July 15, on the
AUG. 12 1911.]
THE CHRONICLE
407
Connellsville & Monongahela Ry.-Called Bonds.-Bonds
$879,300 4% cumulative participating and prior lien stock,
of 1905, Nos. 134 to 163, both incl., have been called for remaking it payable Aug. 15 to holders of record on Aug. 8.
demption at par and int., and will be redeemed on Sept. 1
The dividend on the $19,544,000 non-cumulative pref., also due July 15,
was omitted, and the first intention was to include also in the suspension at the Union Trust Co. of Pittsburgh, trustee.
the prior lien shares.-V.93. p. 44.
Some
of the bonds were placed by Brown Brothers & Co. of
$929,000
in 1909, the issue price being 09 and int.
Chicago Elevated Rys.-Officers.-Britton I. Budd, Presi- Phila.
First
M.
4% sinking fund gold bonds, dated Sept. 1 1905, due Sept. 1
now
dent of the Metropolitan Elevated RR. of Chicago, is
1930. but redeemable at par at any interest period.Int.. M. & S. Par
r. Tax-exempt in Penn. Union Trust Co. of Pittsburgh.
President of this merger organization. The Board of Gover- $1,0000&Total
authorized issue, $1,300,000; outstanding, $874,000; held
trustee.
nors has been enlarged by the addition of Frederick A. in
sinking fund, $133,000; unissued, $293,000. Capital stock, $700,000.
Corporation.]
Delano, President of the Wabash RR. and Chairman of the [Control held by or in interest of U. S.onSteel
30 miles of track and sidings;
These bonds are a first mortgage
Metropolitan Elevated (compare V. 93, p. 104).
connecting the Penna. RR. with the Monongahela RR., the latter road
Elevated
Park
being owned jointly by the Pennsylvania RR. Co. and the Pittsburgh &
Minority Committee.-See Chicago & Oak
Lake Erie RR. Co. The Connellsville & Monongahela Ry. was constructed
Ry. below.-V. 93, p. 286, 229.
at a net cost of $1,734,265, which amount was paid in cash. The out• •
bonds thus represent only about 60% of cost.
Chicago & Oak Park Elevated Ry.-Protective Committee. standing
The Connellsville & Monongahela Ry. Co. is leased to the Pennsylvania
-A minority stockholders' protective committee, consisting RR. Co.
until Jan. 1946 at an annual rental equal to 4% upon the cost of
the road, together with all taxes, operating and maintenance charges. This
of Albert C. Perri11, Theodore W. Smith, Alfred Cohn, Cory lease
has been assigned to the mortgage trustee an cannot be abrogated
E. Robinson and William Dougall, with Frederick A. Fische11 without
the consent of the trustee. The 4% renta s substantially more
Continental
the
with
stock
the
tstandlng bonds and
of
deposits
than
for
calls
to pay the interest charges on the
sufficient
counsel,
as
before
retire the principal through the sinking fund, at or before their maturity.
or
on
Chicago,
Bank,
Savings
&
Trust
Commercial
&
purchase of bonds at or
the
for
yearly,
Sinking
$25,000
fund
provision
order, bonds
Nov. 1 under an agreement dated July 1 1911, effective when under par, or to call them at par and int. in their numerical
retired to be kept alive and their interest added to the sinking fund. •
12,000sharesare deposited. The objectis to induce the Chicago soIncome
from Penn.
(received
Rental
1910:
30
June
end.
-Year
Account.
Elevated Rys. to purchase the Oak Park minority shares, RR.Co.), $73,479;int. on deposits, $258; total income,$73,737. DeductInterest on bonds, $40,280; sinking fund. 525,000; salaries, taxes, &c.;
the control (53%) held by the Northwestern Elevated Ry., $1,813;
surplus for year, $6,644; profit and loss stir.. $21.842.
being already virtually in its possession.-V. 92, p. 1435.
Cuba
RR.-Report.-For year ending June 30:
on
Ry.-Dividend
Southeastern
&
Chicago Terre Haute
Balance;
Pref.
Net
Fiscal
advertisement
by
announces
Fidler
-Secretary
Surplus.
Divs.
Income Bonds.
zgeeds.
Fir
Cha
Profits.
YearEaGrnroisnsgs.
$397,316
the
on
(4%)$400,000
interest
$576,755
of
2
No.
$1,374,071
_
_
_
installment
1910-11
_$3,059,650
on another page that
372,089
300,000
435,210
1,107,299
1909-10 _
2,559,336
been
has
of
rate
1%,
the
at
bonds,
$6,500,000 income
-V. 92, P. 1635.
National
First
at
1911
1
Sept.
after
and
on
declared, payable
Des Moines (Ia.) City Ry.-Injunction.-Judge De Graff
Bank of New York and First Trust & Savings Bank, Chicago, in the District Court on Aug. 5 issued a mandate ordering the
1.
Sept.
of
date
bearing
of
coupons
presentation
Illinois, on
re-instatement of Conductor Hyatt,whose discharge caused
1911.-V. 92, p. 594.
the strike which lasted for 40 hours up to 5 p. m.on Aug.6. •
Chicago & Western Indiana RR.-Bonds Called.-NinetyThe company obeyed the order, but has filed in the Circuit Court a motion to dissolve the injunction, it being claimed that Judge de Graff vionine ($99,000) general mortgage bonds of 1882 have been lated
the Constitution of the United States in issuing the injunction.
drawn for payment on Sept. 1 at 105 and interest at the V.92, p. 794.
office of J. P. Morgan & Co.-V.93, p. 283.
Dominion Power & Transmission Co., Hamilton, Ont.Cleveland (0.) Underground Rapid Transit Co.-Subway Municipal Plant.-See "Hamilton" in State and City Departfor Cleveland.-The General Assembly of Ohio having author- ment.-V. 92, p. 1176.
Duluth South Shore & Atlantic Ry.-Report.-The results
ized the construction of a rapid transit subway system in
Cleveland, this company on June 19 filed a certificate at for the fiscal year ending June 30 were:
Net.
.
Oth.Inc. Int.,Taxes.ctc.Bai.,Def
(7
YearColumbus, 0., increasing its capital stock from $10,000 to
$3,148,818 $879,477 $61,573 $1,161,515 $220,465
$3,500,000, $2,000,000 to be com. and $1,500,000 6% pref. 1910-11
81,824
1,173.253
58,530
3,302,147
1,032,899
1909-10
Bonds proposed, not stated, the company not being ready as -V. 91, p. 788.
yet to give out its financial plans.
Evansville & Terre Haute RR.-Dividend.--The Chicago
Under the authority granted by the electors of the city at the referendum
1912 & Eastern Illinois RR. gives notice that a cash dividend of
election held last November, the company must begin work by June
by
5% has been declared on all the outstanding capital stock
on the 30 or more miles of high-level subway for passenger traffic, and
service.
Dec. 1912 on the low-level subway for freight and interurban
Level (com. and pref.) of the E. & T. H. RR., payable Sept. 1 to
An official map shows the proposed subway routes as follows: High-main
holders of record Aug. 19.
Routes, to be built just below the level of the street, radiating from the
via
post-office and extending in each case to the city limits (1) easterly (a)
is the same rate of dividend which was paid on both classes of stock
(c) via in This
Superior Ave., 105th St. and St. Clair Ave.; (b) via Euclid Ave.; St.
1910 and it is understood that the declaration represents an adjustment
and
Woodland Ave. and Buckeye and also southerly via East 55th
of
dividends in connection with the absorption of the company by the:C. &
Broadway. (2) Westerly (a) via Detroit Ave.; (b) via Lorain Ave.; (3) E.I. RR. Only a small amount of the Evansville stocks are outstanding.
Southerly, via W.25th St. Low-Level Routes, in centre of city (to be used in
The
C. & E. I. RR. In a circular to the stokcholders of the E. & T. H.
connection with rapid transit tracks on the N. Y. Chicago & St. Louis RR. announces that, pursuant to the terms of the articles of consolidation dated
of N. Y. Central system, running both easterly and westerly), under E. 9th July 20 1911, which have become effective, the C. & E. I. will, after Sept. 1,
Summit, E. 3d, Rockwell and E. 4th streets and Broadway.
deliver to the holders of the E. & T. H. pref. stock, at the New York Trust
The city, It is understood, will have the option of purchasing the low-level Co., refunding mtge. gold bonds of the latter company equal in par value to
lines at $850,000 per mile of single track and the high-level lines at $350,000
pref. shares surrendered.
per mile of single track. At the end of 75 years the lines are to become the
C. & E. I. RR. Co. will deliver on or after Sept. 1 next to the holders
Schmidt of The
W.B. Hopkins Is President. Senator T.F.Schm
propertycity.orthe
the E. & T. H. common stock, in exchange for shares as surrendered
p. 1701.
secmny,saorneyseeiipnzV.
at the office of the Metropolitan Trust Co. $83 33 par value of C. & E. I.
pref. stock. Holders of stock who become entitled to fractions of a share
Colorado Railway, Light & Power Co., Trinidad, Colo.- may either purchase from the company an additional fraction necessary to
sold
was
make one full share or sell to It the fraction to which they arc entitled. The
property
Foreclosure Sale-New Company.-This
price for either purchase or sale of fractions of Chicago & E. I. RR. pret
at foreclosure sale on Aug. 2 at Trinidad, Colo., to C. C. stock is to be at the rate of $115 per share.-V.93, p. 229.
Chappelle, Vice-President of the Federal Light & Traction
Co. of New York, and has been turned over to the new Trinidad Electric Transmission, Railway & Gas Co., which was
incorporated in Colorado on Aug. 7 1911 with $4,000,000 of
authorized capital stock, of which $3,000,000 is now issued,
and a $5,000,000 5% bond issue, present issue, $1,500,000.
The Federal Light & Traction Co.(V. 92, p. 526, 1499) owns
the entire stock of the new company.
Earnings for Cal. Years and Year end. May 31 1911-Cal. Year 1911 Est.
1910-11. 1911 est.
1009,
1910.
$144,794 $196,512 $228,306 $273,730
Gross earnings
$94,117 $112,717
$76,937
Net after operating expenses__ _ _ $48,851
Data from Report of Engineers.
Prospects: Trinidad is the centre of an almost Inexhaustible coal field
estimate 24.462,000,000 tons) containing the only
Survey
Geological
(U. S.
Completion
large deposit of coking coal west of the Mississippi River.near
Trinidad
of irrigation projects under way will add 500% to acreage
and free
liberal
purposes.
unusually
Franchises
agricultural
suitable for
equipfrom undesirable conditions. Power plant is new and all electrical
increase
60%
and
A
business
served.
territory
the
to
adapted
well
ment
in a
result
should
which
with
together
improvements
in capacity is planned,
opporsaving of $20,000 in power generation alone. The gas works afford
present
cost;
and
labor
efficiency
in
reduction
in
improvement
for
tunity
its
capacity sufficient for 50% increase in output. Trinidad has passed
critical period of growth and Is now assured of a continuing rapid increase
105.
p.
93,
and
-V.
city
tributary
territory.
of
prosperity
in population and
Columbus Delaware & Marion Ry.-Coupon Payment.The Mercantile Trust Co. of New York paid on Aug. 1, with
funds received from the receiver, the coupon due Feb. 1 1911
on the 1st ref. M. 5% bonds of the company, with interest
at 6% on the amount due.
The interest due July 1 1911 on the bonds of the Marion Ry., Light &
Power Co. was paid at maturity at the Standard Trust Co., New York.
Foreclosure Sale.-Press reports state that Judge Babst
in the Common Pleas Court on Aug. 8 ordered the sale at
public auction of the property of the Columbus Delaware &
Marion RR. to satisfy a mortgage for $1,000,000 held by the
Western Reserve Trust Co. of Cleveland, two mortgages of
$300,000 each held by the Standard Trust Co. of New York
and a mortgage of $2,500,000 held by the Mercantile Trust
Co. of New York, "the last named mortgage covering the
others and is held a prior claim upon the proceedings of the
sale."-V.93, P. 286, 162.
Eustis RR.-Foreclosure.-See Maine Central RR. below.
Hannibal & Northern Missouri RR.-Sale of Road.-John
T. Barker of Malone, representing M. C. Connors & Co.,
contractors, on Aug. 5 applied for a writ of prohibition to
prevent Receiver John C. Mills from selling the effects of
• •
the company on Sept. 2.
The contractors have a judgment for $15,000 against the company for
work rendered.
Kokomo Frankfort & Western Traction Co.-Offering of
Guaranteed Bonds.-F. R. McMullin & Co. and the Fort
Dearborn Trust & Savings Bank (the mortgage trustee),
both of Chicago, are placing, at a price to yield about 53(%
income the present issue of $600,000 1st M. 5% gold bonds,
guaranteed prin. & int. by the Kokomo Marion & Western
Traction Co. Bonds dated July 1 1911 and due July 1 1941,
but redeemable on any interest date at 105 and int. on 60
days' notice. Par $1,000c*. Int. J. & J. A circular says:
Present outstanding bonds, $600,000 (no further bonds can be issued for
the original construction and equipment of the railroad described below);
reserved for future additions, extensions and improvements at 80% of the
cost thereof, but only when the net earnings are twice the int. charge, including the bonds then to be issued, $150,000; total auth. Issue $750,000
Data Furnished the Bankers by the W. H. Schott Co., Engineers, Chicago.
Organized in Indiana in June 1911 to build an interurban railway between
Kokomo and Frankfort, Ind. paralleling the Toledo St. Louis do Western
'stock of $100,000 is owned by the Kokomo
(Cloverleaf) By. The capital
Marion &Western Traction Co. The railway now under construction covers
24.72 miles, including sidings; also will use about one mile of the Kokomo
Marion & Western Traction Co.'s terminal, Kokomo. Private right-ofway
(avg. 50 ft. in width), except for street crossings, a terminal having been
purchased In Frankfort in lieu of using the streets for right-of-way. This
puts the road in a strong position for handling freight, as well as passengers
and express. The entire road-bed and over-head structures are being built
for heavy traffic. Franchise in Kokomo has 42 years, that in Frankfort
50years to run, both free from burdensome restrictions and conditions.
The territory served is a fine agricultural district and has many manufacturing and industrial enterprises. Population tributary to this division
(1910), 38,817, and on the total mileage (53 miles) between Marion and
Frankfort and including Kokomo, 74,306.
The property has been leased for 42 years, with an option for any extensions of the lease they may desire, to the Kokomo Frankfort & Western
Traction Co., which company has a property value over and above its bonded
liability of easily $1,000,000, and guarantees the principal and interest of
the bonds now offered by endorsement on each.
The Kokomo Marion & Western Traction Co. owns an interurban railway
between Marion and Kokomo, Ind., a distance of 28 miles, and in Kokomo
operates a street car system of 834 miles. Also owns the only llght and
408
THE CHRONICLE
[VoL. Lxxxxim
power plant and controls the heating plant in Kokomo and tarnishes power
£2,500,000 "first and refunding mortgage" 4% • bondS,
to the villages between Kokomo and Marion; along the line of the Kokomo
Frankfort & Western Traction Co. will also furnish current for lighting and series "B". Compare V. 92,
p. 1500, 1566.
power purposes outside of Frankfort.
Pacific Light & Power Corporation, Los Angeles.-Merger
Earns. of Kokomo Marion & West. 1008 to '10-Est. ofCombined Earns. 1912.
-New Bond Issue.-See San Joaquin 'Light & Power Cor1908.
1909.
1910. (Est )1912.
Income
$199,175 $233,863 $281,485 $376,503 poration under "Industrials" below.-V. 92, p. 795.
Net Income
$108,645 $134,317 $148,100 $218,594
Philadelphia Traction Co.-Bonds Called.-Thirty-two
Bond int., taxes and miscellaneous 57,227
58,606
60,810
102,500
Depreciation reserve eat. 1909
20,253
20,253
20,253 ($32,000) collateral trust 4s of /887 have been called for paySurplus
$49,418 $55,458 $67,037 $93,841 ment at 1Cr5 and interest on Aug. 15 at the Pennsylvania Co.
The net earnings for 19/0 ($67,037) were more than twice those of 1906 for Insurances on Lives, &c., Phila., trustee.-V.
92, p. 396.
(929,233); the average yearly increase over the five-year period about
20%.
Portsmouth (0.) St. RR. & Lt. Co.-Bonds Called.-Nin
For the cat. year 1012 the estimate includes estimated earnings of
e
Public Utility Co. (recently acquired; V. 92, p. 1377), $26,250,Kokomo
and of ($9,000) 1st M. bonds have been called for paynient at par
Kokomo Frankfort & Western Traction division, at same rate per mile as
Kokomo Marion & Western Traction division, $88,768; and the charges and int. on Oct. 2 at Bankers Tr. Co., N. Y.-V.91, p. 464.
($10E500) include: Interest. on $1,000,000 Kokomo Marion & Western 5s
Raleigh & Southport Ry..-Report.-For year end. June 30:
(V. 83, p. 1098), $50,000, on $600,000 Kokomo Frankfort is Western 5s,
$30,000, and on $150,000 Kokomo Public Utility Co. 58 (V.92, p.
YearGross.
Net.
Int., Taxes, Olc. Bal.,,Stor
1377), 1910-11
$7,500; taxes and mind., $15,000; depreciation reserve, $20,253.
$175.675
$71,864
$47,347
$2.1,517
1915 the net earnings should have Increased at least $50,000 per annum.By 1949-10
155,081
50,759
42,747
17,012
The stock of the Kokomo Marlon & Western is held by a few men of -V. 92, p. 1226.
means Identified with banks and other public utility properties.
• Riverside Traction Co., N. 3.-Assessment.-Secretary
Kokomo Marion & Western Traction Co.--Guaranteed C. L.
Rihl gives notice that in order to provide funds to pay
Boncis.-See Kokomo
Frankfort & Western Traction , Co. bills incurred and to be incurred in the
rehabilitation of the
above.-V. 92, p. 1375.
property and for additions thereto and to provide working
Louisville Ry.-Earnings.-For six months end.June 30: capital, an assessment of $10 per share(20%)on the common
stock is now called for, payable to H. H. Aikens, Treasurer,
other
Gross'
Net
Fired PI.Dir. Corn.
Bal.,
,6 Mos.- Earninns. Earns. Income. Chaves. (2 ki%) Dirs.
3urp.
1911 ___$1,476,421 $641,747 $85,258 $346,500 $62,500 $272,825 $45,180 No. 610 Arcade Bldg., Philadelphia, in two installments,
1910 __ 1,421,173 619,245 67,905 313,917 62,500 272,825 37,908 viz.: $5 per share Aug. 30 and $5 .Nov. 1 1911. .
-V,WI, p. 164. 103.
Louisville & Interurban RR.-Stack.-This company has
increased its capital stock from $1,500,000 to $3,750,000.
All the $3,750,000'stock is owned by the Louisville Ry. CO. (a subsidiary
of the Louisville Traction Co.), having been issued to reimburse it for the
amount advanced In order to buy the Louisville ec Eastern RIt. in January
last. See V. 92, 0. 59.
Maine Central RR.-Acquisition.-The company has purchased the entire capital stock ($700,000) of the Sandy River
& Rangeley Lakes RR. Outstanding capitalization of this
road last year included $241,600 stock (on which divs. have
been paid at the rate of 4% per annum) and $730,0004% '20year bonds, due Feb. 1 1928, partly held by Maine sayings
banks..
The latter owns a.2-ft. gauge road extending from Farmington. to. Ritageley, Me., 47 miles; Strong to Bigelow,. Me., 31. in.; with branches,
a total
•of 88.4 miles.
The Eustis RR., extending from Eustis Jct. to Green's Farm, Me.„ which
.has been operated by the Sandy Lakes & Rangeley RR. under an
arrange.
ment with the receiver, has been ordered, to be sold on Aug. 25 under
foreclosure of the mortgage under which $116,000 bonds are outstanding,
the
upset price being $40,000.-V. 93, p. 346, 226.
Efesico Tramways.-Stock.-The London Stock Exchange
has listed $5,664,200. additional common stock in shares of
$IN each, making.the total listed $16,487,400.-V. 93, p.226.
National RR. of Haiti.-Bonds- Offered in Paris..-The
recent offering of $2,500,000 1st M. 6% bonds in Paris at
492.50 francs each (par 500 francs), through the Banque
Continentale de Paris, was, it is announced,. a complete
success. These bonds are part of $13,000,000 which it is
proposed to issue on 409 miles of road, of which 50 miles
are already built and 359 miles remain to be constructed.
The Haitian Government guarantees 6% interest annually
,on. the cost of construction,fixed at $20,000 a kilometer (say
$32,250 per mile),and has set apart certain' export duties to
secure the guaranty; it also guarantees the payment semiannually of a sum equal to IA% of all bonds issued to provide for the retirement of the bonds by the sinking fund in
44 years from 1916.
The New Jersey Public Utility Commission on or about July 10 declined
to sanction the issue of $100,800 bonds at 80, in order to cever $80,583 of
rehaollitation expenses, the objection being that the coMpany was persistently withholding the call for the unpaid 20% due on tne common stock.
Successor of Camdcii is Trenton fly. (foreclosed) per plan V. 88. p. 112'6.
Rutland Toluca 86 Northern Mt.-Offering of Guaranteed
Bonds.-Eversz &. Co., Chicago, have recently been placing
this company's 1st M. 4% gold bonds. Total issued (closed
mortgage)/ $225,000. Unconditionally guaranteed, principal and interest, by the Chicago & Alton R.Co. Dated
Oct. 1 1910 and due Oct. 1 1930, but redeemable' on or after
Oct. 1 1915 on 90 days' notice. Par $I0fland $1,000 (c*).
Northern Trust Co., Chicago, trustee. A circular says:
The Rutland Toluca is Northern ItR. extends from Rutland to McNabb.
Ill., total 27 miles, and connects with the Atchison Topeka is Santa
Fe,
Illinois Central, Chicago is Alton and Chleago Milwaukee is St. Paul CaRL
roads. The road runs through a rich farming country underlaid with large
deposits of coal. This issue of bonds is limited to 8225,000, being a emoted
first mortgage at the rate of only $8,333 per mile. The road is leased for
a period of 999 years by the Chicago is Alton RR. Co., which, by endorsement, unconditionally guarantees principal and Interest of these bonds.V. 89, p. 1398.•
St. Paul & Des Moines ER.-Sale Approved.-The stockholders on Aug. 10 approved the sale of the road to the Chicago Rock Island & Pacific fly. Co.,. which took place about
two months ago. The roadi s now known as the St. Paul ft
Kansas City Short tine.-V. 92, p. 1566'.
Sandy Lakes & Emigele y Lakes: Rit.-3ale.-See Maine
Central RR. above.
San- Jos.cluin Valley Electric Ry.-Bond.-A mortgage
has been filed to the Mercantile Trust Co. of San Francisco,
as trustee, to secure an issue of $1,000,000 bonds due 1941,
of which some'$825,000'are to he put out in connection with
the constructing and equipping of an electric road from
Stockton to Modesto', a distance of about 35 miles.
Stock outstanding repecte.I as $592,720. Among thote interested are
Morris L. Brackett (V.-Pr:54. andi Gen. Mgr.)„ Harold S. Renwick, Robert
F. Covert, Fred. A.Copestake, Andrew McCortnack and Fred. Rothenbush.
In Nov. 1910 gratilies was' reported as completed from Stockton to Ripotti.
The directors were then; Pres.. Harold S. Renwick, N. Y. City; V.-Pres..
F. n-lek-t,t„ st.,,,,!irto n: Treas.. Rob*.
and. Gen. M.,1..
Cove,
t,
Salida; Sec., Daniel G. Gary, Stockton; R. T. Zook and J. G. Weir, San Fr:
Principal due Aug. 1 1960, but callable any time at par. Interest F. is A.
'Total authorized issue $13,000,000.
Seaoard'Air.Line Ry.-A pplieation taList.-The.coin pany
Particularsfrom an Advertisement in Paris.
Organized Sept. 8 1905 [tinier the laws of Halti-Ed.1 with $3,000,000 of has applied to- the. N. Y. Stock Exchange to' list $24,295,0001
capital stock, and was eecently reotganizett and its'stockincreased to $7,- 4% refunding M. bonds dne 1959.-V. 3, p. 283.
000.000, in $100 shares, all fully paid up. There already exist 80 kiloSeattle Renton & Southern (Electric) Ry.-New Contra.metres (50 miles) of Main lino anti' brancnes and there remain to be built
580 kilometres (359 miles). For this purpose the company proposes to Peabody, Houghteling & Co. of Chicago, having acquired
Issue from time to time $13,000,000 6% bonds,. of which, the first block of
control, the following directors, etc., have been elected:
$2.500,000 will be (were) offered for suoscription July 18.
The Haitian Government has guaranteed (a) 6% interest annually on
William R. Crawford (President). James B. Houghteling, E. M. Mills,
the cost of construetkin, fixed. at $00,000 (American gold). per kilometer of Peabody, Houghteling, is Co. (Vice-Preat.),
E. S. McCord, of Kerr is
(say $32,250 per mile-Ed.) and to secure this guaatuty has pledged,the McCord', Attorneys, Seattle; F. J. French (Secretary).
receipts from its export tax on mahogany, cedar, lignuin vitae, iogwood,
Extensive improvements, it is stated, are proposed, the
.and'(b)'for the repayment of the principal or the lean in 44 years from 1916
a stun equal. to 36 of 1% of the total amount of the bonds issued. Said, new banking interests agreeing
to finance the same.guaranties are operative upon the completion of the several sections or the
.road. If the' Government of Haiti exercises Its right at the beginning of V. 93, p. 106.
1946' to buy the property,it must pay oil at 110% any of the bonds not
Tampa (Fla.) Electric CO.-Extra Dividend.-This Stone
,previously redeemed by the sinking fund.
The dirrctors are: R. L. Farnham, N. Y.. President': Samuel Maelloberts, & Webster company has declared along with the quarterly
V.-Pres. of the Nat.. City Bank of N. Y.; L. H. Shearman (of' W. It. Grace dividend
of 2% an extra dividend of 1%, both payable
Co., N. Y.): T. A. Reynolds, Cashier of Nat,. City Bank or N. Y.:
'T. K. Alien, N. Y.; d'Ennery Dejoie, Port au PAnco; J. P. MacDonald, N.
C. Aug. 15'on the $1,700,000 capital stock.
(A syndicate represented by William'. Rs Grace is Co. of. New York some
The dividend rate, for a number of years 10% per ann., was In 1907,
months ago purchased control of the property from Philadelphia eapitalists. 1908 and 1909- 7%
yearly; in 1910 and in 1911 to date 8%, With now an
The road, Is to extend from Port au Prince to Cape Kaytien, Gonalven,to extra 1%.-V.
92, 0. 323.
Hinolie and also.from Port de Pais to Gonalves, connecting the Interior of.
the island with‘ the four principal seaports, the company having the right
Tennessee & North Carolina R.--Colltrot.-See Cham.
to operate steamship lines to all ports of the island. Gauge to be 3 ti feet.
below.-V. 92,
Construction was begun last March, the contrast having, been rot. to the pion Lumber Co. under "Industrials"
Caribbean Construction Co.-Ed. "ChronIcle."1-V. 84, p. 450.
p. 1375, 1180.
Nevada. Central RR.-Intieresb on Incomes.-The directors
‘on July 7 authorized an interest payment of 1.U% out of
net earnings on hand June 30 1911, payable upon demand
to' the holders of 750' 1st M. income bonds at the New Jersey
Title Guarantee & Trust Co., 83 Montgomery St., jersey
City, N. J.---V. 88, p. 800.
Northwestern. Elevated RE., Chicago.-Voting. TrustEnds.
-The voting trust agreement of. March. r 1909; has been terminated, and holders of stock trust certificates are notified
to surrender them to the Illinois Trust & Savings Bank of
Chicago;in exchange for the Certificates of stock. The Chicage Elevated'Rys.(V. 93, p. 104, 229, 286) now practically
owns the property.-V. 92, p. 1701.
Oregon-Washington RR. & Navigation CO-.-Listed.The London Stock Exchange has listed fully-paid scrip fa:
Titusville &Northern Ry.-Sate.-Frbin among the'assets
of the Carnegie Trust CO'. (in' liquidation) there were sold at
auction in N. Y. City on Aug. 2,. for account of the State
Superintendent of Banks.,for $2,000, the following.securities:
$200,000 Granite Springs Water CO. 6% bonds, $300,000
Titusville & Northern, By. 5% bonds and a $25,000' note' of
the By. Co dated July 31 1909; due Sept. 29 1909,. endorsed by Chas. W. Chapman & Co. and Chas. W.Chapman..
• The railroad bond& iii qtleStion are part. of *400,000' bohda that. Charles
E. Wellborn, a promoter, brought to New York 111, 1909 with the avowed
purpose of raising' tuna for the construction of a railroad between Titusvide and Wellborn, Pa.,. &o. Only 3' MIletsi of track, it appears, has. been
laid. The railway was incorporated in, Penna. with $1,000,000 steck, of
which $12,500 had been paid In to June 30 1909. See "N. Y. Sun" of
Jtily 7 1910:
(so
Toledo
Railways & Light Co.-New' Ordinance.
Mayor Whitlock on Aug. 3 approved the ordinance passed
AUG. 12 19111
409
THE CHRONICLE
day for
by the Council providing for a rental of $250 per
expired.
the use of the streets on which franchises haveeffective
10 days
and become
The ordinance was to be advertised at once refuses to pay the rental,
after the first publication. If the company
to file suit compelling
ordinance
the
by
City Solicitor Schreiber is authorized the streets.
from
the company to pay or to oust Itordinance
with his program
harmony
in
is
the
that
Mayor Whitlock says
and may hasten the solution of the •
for a solution of the franchise problem.
judicial determination
larger problem by means of court action and the
of the questions involved.
an ordinance to Council
City Solicitor Schreiber proposed to present to the life of the longest
providing for the extension of expired franchises
universal transfers.
and
fares
3-cent
of
basis
unexpired franchise on a
Common
Temporary Injunction.—Judge Manton in the company
Pleas Court on Aug. 5 temporarily enjoined the consumfrom demanding or receiving from any of its Toledo fixed by
ers pay for electric lighting in excess of the rate
ordinance of Council passed in April last.
cent per
discount of 1
The rate so fixed is 8 cents per k.w. hour, with a month and a 50-cent
k.w. hour for payment by the 10th of the succeeding
rate was 9 cents, with a 10% dismonthly minimum charge. The formerminimum.
count for prompt payment, and a $1
do not show any invasion
The Court says that the facts pleaded In defense
the spoliation complained of
of the defendant's Constitutional rights, and it
admitted that only 8%
is
that
admitted;
facts
the
is not sustained by
is affected by the ordiof the current produced and sold by the defendant
fixed In the ordinance
price
the
for
less
than
sold
is
92%
that
and
nance
and that the amount
hour);
w.
perk
6
S,
3
cents
(a large amount as low as
per month,
which the company will have to take care of and adjust is $490
1702.
p.
92,
--V.
annum
per
or $5,880
Toronto Ry.—Bonds Called.—Forty-eight ($48,000) 4
currency bonds and 248(£24,800) sterling bonds issued under
mtge. of 1892, are called for payment Aug. 31 at par &
int.at Canadian Bk.of Commerce,Toronto.—V.93,p.347,230.
Toronto Suburban Ry.—Status.—This company is 'mentioned as forming part of the proposed merger of Toronto
utilities. In London last June subscriptions were invited
for £540,000 43'% 1st M. debenture stock, due July 15 1961,
but callable all or any at 105. An advertisement showed:
Virginia Ry. & Power Co.—Earnings.—For June 30 year:
Gross earnings
Operating .expenses
-Va. Ry. & Pow. Co.- -Norfolk & Portsm'lt1909-19.
1910-11.
1909-10.
1910-11.
$2,244,588 $2,058,605 52,091,616 51,920,841
1,129,271 1,023,729 1,212,404 1,110,489
Net earnings
Other income
$1,115,317 51,034,876 '5879.212
33,160
46,296
$810,351
Net income
Taxes, interest, ace
$1161,613 51,068.036
648,318
653,363
$879,212
743,579
$810,351
777,216
5419,718
5135,632
$33,135
Surplus
—V.93, p. 106. 47.
5508,250
Washington Baltimore & Annapolis (Electric) RR.—
Listed in Cleve?and.—The Cleveland Stock Exchange has
listed $5,000,000 1st M. 5% bonds, $1,460,000 6% noncumulative preferred and $3,000,000 common stock. The
certificates of deposit of the securities of the old railway
company have been withdrawn from the Exchange.—
V. 93, p. 287, 231.
West -End Street Ry., Boston.—Circulars.—The board of
directors has sent a circular letter to the stockholders strongly
recommending the acceptance of the legislative Act authorizing the purchase of the property, effective June 10 1922
(when the present lease expires),by the Boston Elevated Ry.
Co. on basis fully indicated in last week's "Chronicle," p. 344.
On the other hand, the stockholders' protective committee,
consisting of F. S. Mead (Chairman), George S. Baldwin,
Charles M. Cabot and William H. Slocum, has issued a circular attacking the Act as inequitable to the West End shareholders and on the ground that in the opinion of their counsel
it is of doubtful legality.
The committee states that the following well-known trustees of Boston
have authorized the use of their names as being opposed to the acceptance of
this Act: Alfred Bowditch, Charles E. Cotting, Philip Dexter, Robert H.
Gardiner, Augustus P. Loring, Laurence Minot, Francis C. Welch, L. H. H.
Johnson and Arthur L. Howard.
the Boston Elevated Ry. Co. takes
Pres. Bancroft of
to the .E.
Interest payable .T. & J. 15 In London and Toronto at $4 86 2-3
in the first direct issue with the statements made by the West End stockTrustee, British Empire Trust Co., Ltd. Said stock is limited
provided
amounts,
further
holders' protective committee in its circular of Aug. 8.
instance to ,C540,000, but the company may issue
of railway
that the total outstanding shall not exceed (a) $80,000 per mile
President Bancroft says that the elevated company has furnished the
exactual
of
75%
(b)
and
constructed
be
to
constructed or under contract
power protective committee with all specific information asked for by it which
penditure on bridges and approaches, terminals, station buildings,
was considered to have any bearing on the question of the dividend to which
stations, trunk mains, asc., as specified in the trust deed. to establish an the West End common stockholders is entitled.
Formed under special Act of the Legislature of Ontario
The circular letter encioled the report of Harvey S. Chase & Co., certified
suburbs
electric railway, light, heat and power business In certain of the
and accounts of the elevated
to the pro- public accountants, upon an audit of the books
and districts surrounding the city of Toronto, and is subject
showing the income and outgo for the year ending June 30 1911
company,
par,
$1,500,000;
visions of the Ontario Railway Act, 1906. Share capital, and which will and also the assets and liabilities as of .Tune 30 1911. The statement shows:
$100. The district served by the company's existing lines, thickly settled Total Income, 515,980,707; total outgo, $11,990,210; net Income, $3,981,be served by the extensions, is one of the oldest and most towns therein 488; capital charges, coupon interest, 61,272,180: "L" dividends, $1,197,farming districts In the Province of Ontario, and the cities and
Toronto is the 000; dividends West End, $1,358,848—$3,828,028; surplus, $153,460.—
are thriving centres. The area within a radius of 75 miles of
V. 93, p. 347.
greatest manufacturing district of Canada.
with the
The existing railway lines connect at I3athurst St., Toronto,
Lambton
and
Weston
to
northwesterly
run
and
system
Toronto Street Ry.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Woodbridge
Mills. It Is now proposed to extend the line from Weston to
Dixie,
and from Lambton Mills to Guelph, via Islington, Summerville,
Cement Co.—Foreclosure Sale.—The company's
Alma
Huttonville,
Meadowville,
Churchville,
StreetsvIlle.
Cooksville, Erindale,
Guelph property will be sold at foreclosure sale at Wellston, Ohio,
Norval, Georgetown, Glen Williams, Acton, Milton, Brampton andrights
of
on our private
special master, under a decree
or other points. These extensions will be mostly
railway on Sept. 1 by James 0. Tripp,
way, and when they are comp.eted the company wi I own an electric
secured rights of way made on or about July 20 by the U.S. Circuit Court, Southern
of approximately 90 miles. The company has also
portion of the city near St. District of Ohio, Eastern Division. Upset price, $500,000.
from the present terminal easterly to the central
the North
George St., where it Is Proposed to peovide a terminal adjoining
terminus of the MetroThe property consists of about 10.51 acres in Wellston township, Jackson
Toronto Station of the Canadian Pacific By. and theand
principal County. and 3,364 acres In Vinton and Clinton townships, County of Vinton,
one
of
the
Ry.
Radial
York
&
Toronto
the
of
politan Division
with
improvements, machinery, trade-marks, patents, Sec. The mortstations of the Canadian Northern Ry.
erection, 30 miles gage for $2,000,000 is dated April 14 1903; Standard Trust Co., N. Y..
The company has already In ope.ration ...or in course ofdistricts.
Electric
The unpaid interest. It is stated, amounts to 5360.000.
trustee.
surrounding
the
and
of transmission lines In Toronto
from one of the
current for light, heating and power purposes is obtained
Glue Co.—Subscription Rights.—An official
American
right of
the
utilize
to
Intend
We
companies.
power
water
large Niagara
lighting, heating circular shows that the right to subscribe for the $400,000
way of the railway to extend the transmission lines, for
and power purposes In the districts to be served by the railway.
the opening new pref. stock at $145 per glare applies to all stockholders
The directors anticipate a profitable revenue immediately on
With of record August 15, the right to subscribe expiring at
of the new lines, which are expected to be complete:) by Dec.311012.
endonly a small proportion of the total mileage In operation for the year
the 12 o'clock noon on August 31.
and
1,047,101
was
carried
passengers
of
ing June 30 1010, the number
Payment is to be made in full at the company's office, 121 Beverly Street,
gross earnings per mile amounted to $5,120. This figure includes a small
Boston, on or before Sept. 10. Compare V. 93, p. 347.
amount from light, heat and power.
the
developed
is
fully
business
the
The directors anticipate that when
American Linseed Co.—President Resigns—New Committee
per annum, and
gross earnings from the railway will amount to $500,000
earnings from light, heat sad of Management.—It was announced on Aug. 7:
that for the year ending .Tune 30 1911 the gross
obtained,
the
of
already
results
basis
power will amount to $12,000. On the
John A. MeGean having resigned as President. Treasurer and a director of
with only a small portion of the system In operation, tile .gross earnings
the company, a committee of management has been created, composed of
would amount to $430,800 per annum, leaving estimated net earnings of H. E. Cooper (Chairman), F. T. Gates, R. H. Adams and the Chairman of
$185,800 per annum.
Starr J. Murphy, ex-officio, with power to add to
Mackenzie, President, President Canadian North- the board of directors,
Directors: Sir Will
have active charge of the company's
Royce, their numbers. The committeeofwill
ern By. Co. and of Toronto Ry. Co.; it. M. Horne-Payne, Allen
New York was elected a director to fill
Jr.
Dominick
Bayard
affairs.
Major G. C. Royce. Hun. F. 1-1.. Phippen, KU.. Lorne William Mitchell.
the vacancy created by the resignation. The company is controlled by
John D. Rockefeller, nearly all of the members of the board being personal
Trinidad (Colo.) Electric Transmission, Railway & Gas representatives,—V. 91, p. 714.
Co.—Reorganized Company.—See Colorado Railway, Light
& Power Co. above.
Underground Electric Railways, London.—Listed in London.—The London Stock Exchange has listed Speyer Brothers' scrip certificates for £1,538,700 joint power-house rent
charge stock. Compare V. 93, p. 347.
Increased Interest Payment on Incomes.—The holders of the
£4,928,050 income bonds, who in Sept. 1910 and again in
Mch. 1911 received M of 1% interest, will, it is announced,
for the half-year ending June 30 1911 participate in a distri3 of 1% being at the rate of 1%% per annum,
bution of 4
or an 'increase of A% per annum.
Payment will be made free of British income' tax against surrender of
Coupon No.7 on Sept. 1 1911 at the New York Trust Co.—V.93, p. 347.
American Pneumatic Service Co.—Report.—The earnings
of the consolidated cos. for the year ending Mch. 31 were:
Fiscal
Year1910-11
1909-10
—V. 91, p. 334.
Net
Profits.
5558,647
514,128
Depr.,Int.,
Sk.Fd., eec.
5283,371
272,859
Balance,
Divs. on
1st pf.(7%). Surplus.
6170.276
$105,000
241.269
American Steel & Wire Co.—Further Pleas under Indictments.—Ten more men who were recently indicted for complicity in nine steel and wire pools pleaded nobo contendere on
Aug. 4 and were fined by Judge Archbald in the criminal
branch of the U.S. Circuit Court,leaving ten of those indicted
still to plead.
Edwin E. Jackson. an attorney, who, it Is stated, engineered the pools,
was fined $5,000 under each indictment, instead of $1,000 under the first
and $100 under each additional indictment, as in the other cases. The
total amounts paid to the Government to Aug. 4 by those Indicted was, it Is
stated, $136,700. Compare V. 93, p. 287.
Union Pacific RR.—See "Annual Reports."
Atlantic Gulf & West Indies Steamship Lines.—Bonds
Resignation of Mr. Frick.—It became known on Thursday
that Henry C. Frick resigned as a director about 2 mos. ago. Called.—Ten ($10,000) 1st M. 5% bonds of 1899 of the New
Frank A. Vanderlip, President of the National City Bank, who is a York & Porto Rico SS. Co. of N. Y. have been drawn for
director of the Union Pacific, succeeds Mr. Frick as a director and member redemption at par and interest on Sept. 1 at the New York
of the executive committees of the Oregon Short Line RR. and OregonWashington RR. es Navigation Co. Mr. FrIck's successor on the board of Trust Co.—V.92, p. 953.
the Union Pacific will probably be elected at the annual meeting in October,
Bell Telephone of Canada, Ltd.—Bonds.--The London
when the vacancy on the executive committee created by the resignation
Stock Exchange has listed $4,899,000 5% bonds of 1925.
will also be filled.
The resignation, It is said, possesses no significance so far as the Union Auth. issue, $7,500,000 (V. 92, p. 797).—V. 93, p. 43.
Pacific is concerned. but Is caused by Mr. Frick's desire to lessen his business
duties. He entered the U.P. management, It is said, at the request of
Blackwell Lumber Co. of Coeur d'Alene, Idaho.—Bonds
the late Mr. Harriman, although his holdings therein had never been large
abody, Houghteling & Co., Chicago, are offering
Offered.—Pe
interest
too,
of
his
large
practically
account,
disposed
of.
been
On
have
and
in the Atchison, a competing line, Mr. Frick felt it would be better not to at par and int. (see advertisement on another page), yielding
remain on both boards in view of the present movements toward dissocia6% income, the unsold portion (less than $300,000) of an
control of different raliroads.—V. 93, p. 46.
ction of
410
THE CHRONICLE
issue of $1,600,000 (closed) 1st M. 6% serial gold
bonds,
dated July 1 1911 and due $80,000 semi-annually, beginni
ng
Jan. 1 1912 and ending July 11921, but redeemable
in the
reverse of their numerical order on int. dates at 105 and
int.
Par $1,000 and $500 (c*). Prin. and semi-annual
payable at First Nat. Banks of Chicago and New York. int.
Trustee,
First Trust & Savings Bank, Chicago.
Abstract of Bankers' Circular.
These bonds, which are issued for the refunding
floating debt and for
the purchase of additional timber, are secured by a of
closed first mtge. upon
all property now owned or hereafter
including lands and standing timber in the counties of Kootenaiacquired,
and Shoshone,Idaho,embracing over
1,100,000,000 ft. of merchantable standing
timber and 19,664 acres of land
owned in fee simple. The company's timber
occupies an area of 45,285
acres and 45% of its holdings is Idaho white pine,
the most profitable class.
Valuation of' Security.
Actual
Investment.
Lands & timber owned in
ICap. stk., all sold at par_ _$3,747,400
fee
•
$4,100,000 Sur. & undivided profits__
Plant, RR. & logging eq__
824,6811Investment of bondhold- 427,906
Net current assets
1,151,006, era
1,600,000
Total assets
$6,075,6871 Total investment
$5,775,305
The stockholders, therefore, have behind the bonds an
actual investment
of 2% times the total Issue, the stock and surplus together
$4,175,306. After receiving the proceeds of these bonds, theaggregating
company's
liabilities, other than the bonds, will be only $69,427 of accounts
payable.
Estimated Earnings for Next 12 Mos. Based on Present Prices
and Costs.
Net sales (47,000,000 ft. of white pine at $23 50 per 1,000 ft.
and 23,000,000 ft. of yellow pine at $17 50)
Manufacturing, selling and overhead expenses, at $11 per 1,000 ft.$1,507,000
770,000
Sinking fund (white pine at $5 per 1,000 ft. and yellow pine at $3)
304,000
Net earns, applicable to bond int. of $93,600 during same period
$433,000
The company (organized in 1909) is now operating its plants
their full
capacity, and has recently entered into profitable contracts forat
the
said of
a large portion of its product. During the next 12 months the
company
will market not less than 70,000,000 feet of finished lumber.
The sinking fund ($5 per 1,000 ft. on all white pine, $3 on Western
pine
and $2 on all other timber cut and removed) will be applied to the
of the semi-annual installments of principal of these bonds as theypayment
mature,
and any surplus remaining may either (a) remain in the sinking
fund or
(b) be applied in redeeming additional bonds, or (c) be used to purchase
additional timber lands, subject to approval of Peabody, Houghteling
The sinking fund should pay off all these bonds with the exhaustio & Co.
n of less
than 50% 1 the standing timber.
The mills are located in Coeur d'Alene, Idaho, on Coeur d'Alene
Lake, and
have a capacity of over 80,000,000 feet of finished lumber
per annum, besides other lumber products, such as lath, &e. The timber
consists of
511,000,000 ft. of Idaho white pine, 170,000,000 ft.
454,000,000 ft. of mixed timber, including spruce, redof Western pine and
fir, larch and cedar:
total, 1,135,000,000 feet: besides an immense amount
of cedar poles and
tie timber, all tributary to good driving streams
running
into the lake. A
branch of the Cis. Milw. & Puget Sound RR.
traverses the main body of
timber, while the company's own railroad,
Southern, connects Its Mica Bay timber withknown as the Coeur d'Alene
its booms on Coeur d'Alene
Lake. The company's product has an excellent
market throughout this
country and abroad. The principal stockhold
and well able to protect their investment. Theers are men of large means
management is in the hands
of F. A. Blackwell and his associates.
Canadian Puget Sound Lumber Co., Ltd.-Bonds
Offered.
-O'Connor & Kahler, N. Y. City and Chicago
;
B. Cadwell & Co., Detroit and N. Y. City, and W. C. E.
Langley &
Co., N. Y. City and Buffalo, are placing at par and
in the
unsold portion of the present issue of $1,200,000 "first
and
refunding mtge." 6% sinking fund gold bonds,dated
June 8
1911, part of a $1,500,000 issue due in annual install
ments
(on Oct. 1) as follows: 1912, $50,000; 1913, $100,000; 1914,
$125,000; 1915, $125,000; 1916, $150,000; 1917, $175,00
0;
1918, $175,000; 1919, $200,000i ,1920, $200,000; 1921,
$200,000, but redeemable on any interest date at 105 and
int.. Trustee, Michigan Trust Co., Grand Rapids, Mich.
Interest A. & 0. at office of trustee or at Bankers Trust Co.,
N. Y. City. Par, $100, $500 and $1,000. The bankers
call attention to these important features of a letter from
President Likens, Grand Rapids, June'12 1911:
(1) A 1st M. on 31,604 acres of standing timber, with logging
equipment
and railroad valuation, $4,182,706; a refunding mtge. on
22,294 acres of
standing timber, with logging equipment and railroad
thereon, and mill
property and real estate with water front in City of Victoria,
covered, $2,029,015; so the total net valuation (which valuation so
and current assets of $814,331) aggregates $6,933,290, over includes cash
total authorized bond issue. (2) Net earnings for 1910, 4 % times the
operating separately, $257,836, or nearly three times the interest charges
bonded debt. (3) Timber practically all located on tide-wate on present
and therefore without dependence upon any railroad. Its geographircal
location
favors a ready sale as standing timber at any time. (4) The
location assures practical immunity from serious damage by fire. (5) Mortgage
provides sinking fund of 75c. per 1,000 feet of timber cut and sold
(sufficient
to retire the bond issue almost twice over), and also a quick
asset fund of
$300,000. Management is in the hands of experienc
men who have successfully conducted lumber operations in the past. ed
(6) Total bond issue
only 420. per 1,000 feet of timber owned.
CapitalizationAuthorized. Outstand'g.
Capital stock
$5,000,000 $5,000,000
Michigan Puget Sound 1st M. Cs, due $20,000 quarterly, 1911 to 1914_
Closed M.
300,000
Canadian Puget Sound 1st & ref. Os (this issue)•
1,500.000
1,200,000
* $300,000 reserved to retire the Mich.-Puget Sd. bds. maturing
'11-14.
Organized June 8 1011, acquiring all of the assets and business
of the
Michigan-Pacific Lumber Co. (V. 89, p. 474) and Michigan
-Puget
Lumber Co., both of Grand Rapids, Mich. with plants operating in Sound
British
Columbia. The former from June 1 1909'
to Jan. 1 1911 cut and marketed
35,000,000 feet of logs; the latter's mill during 1910 sawed over
0
feet of lumber. The combined equipment is now sufficient for 20,000,00
an annual
production of from 60,000,000 to 70,000,000 feet of logs.
Management: Chas; W. Liken, Pres., Sebewalng, Mich.; Dudley
E.
Waters, Chairman of Board, Grand Rapids, Mich.; Edwin
Cadwell,
V.-P., New York; John II. Moore, V.-P., Victoria, B. C.•, OriaB.
B.
Sec., Detroit; Guy S. Brown, Treas., Victoria, B. C.; Wm. C. Taylor,
Langley,
New York; Chas. A. Phelps, Grand Rapids, Mich.; Delbert Hankin,Vi
ctorla
[VOL. Lxxxxm.
Financial Statement.
Capital stock
$3,510,000
Authorized bond issue. $5,000,000; to be issued
only for additional timber lands, improvements to same
and working capital, under strict provisions, $2,500,000; present
issue_
2,500,000
Offered at the present time
To be sold for the construction of the new lumber$1,'?
-2-2,660
plant and for working capital
$778,000
Organized to purchase the timber holdings
of the Champion Fibre Co
(V. 87. p. 228) and the complete mill and timber
propertie
s of the Pigeon
River Lumber Co. (V. 82, p. 456), making a total
fee simple, all located in Haywood County, N. of 90,000 acres owned in
constituting one of the
most valuable holdings of this class of timber In the
estimate these lands to contain 1,237,180,000 ft.,C.'United States. Experts
log scale, of merchantable
timber, 10 indica and upwards, as follows: Spruce,
432,410,000; hemlock,
409,385,000; chestnut, 160,535,000; poplar, cherry,
eye, 176.200,000; oak, ash, hickory and white pine, ba.sswood, birch, buck58,650,000. Also 378,360 cords of pulp and tannic acid wood. The experts
of the•timber is particularly good and much of It should say: "The quality
per 1,000 ft. stumpage." Another authority certifiesbe worth $5 to $10
that these lands
contain 1,541,275,000 ft. log scale.. of merchantable
timber.
Valuation: Standing '
timber, $4,000,000; pulp
tannic acid wood
$550,000; saw mills, logging railroads, equipment,and
&c., $650,000; total.
$8,100,000, without taking into consideration any value
of the 90,000 acres
of land owned in fee simple after the timber has been removed.
The large
modern lumber manufacturing plant covered by the mortgage
mill, planing mill, dry kilns, machine shops, electric-light includes saw
plant, water
works, storage sheds, dwellings, &c., logging railroad
and equipment,
representing an investment of over $350,000. This
plant is located near
Waterville, N. C., on the company's
railroad, the Tennessee & North
Carolina RR. (V. 92, p. 1803, 1375),own
connecting this mill and the timber
with the Southern By. The bond issue
lumber manufacturing plant, logging will also be a first lien on the new
and equipment which the
company'will construct with part of the railroad
proceeds of this bond Issue,at a cost
of about $400,000. The annual capacity
of
the
two plants will be about
70,000.000 ft.
The Champion Fibre Co.which represent
s an investment of $4,500,000,
is located midway between 'the timber
operates one of the largest combined holdings of the lumber company and
Practically its entire output is taken sulphite and soda mills in the world.
at least for the next ten years under
contract by the Champion Coated
Co.of Hamilton,0.(V.92,0.1704.)
The Fibre Co. has entered into Paper
a 20-yr. contract to purchase a minimum
of 100 cords of spruce and hemlock
pulp wood per working day at a minimum price of $6 per cord for spruce,
$5 for hemlock, $4 for spruce slabs,
$2 50 for hemlock slabs, and all chestnut
at the market price, which is estimated cord wood up to 100 cords per day
at $6 per cord, all prices being f.o.b
cars the company's railroads.
The ordinary daily consumption of pulp
wood by the Champion Fibre
Is 450 cords. The slabs, small timber
tops. &c., commonly valueless,Co.
in this case used for pulp wood, which
under this contract is estimated arc
to bring in nearly 3350,000 per annum, on
which the profits should be sufficient
to pay all interest on the bonds.
Sinking fund to redeem maturing bonds
(or to purchase or call them), $3
per 1,000 ft., log scale, for all timber cut and
50 cents per cord of wood cut.
This will operate to retire all the bonds
before cutting about 60% of the
timber covered by the mortgage.
Among the directors are: Chas. I. James,
Baltimore: J. G. SchmidlapP,
Chairman Union Savings Bank & Trust Co. and
director Champion Fibre
Co., Cincinnati, O.; James D. Lacey, Chicago: W.
Procter & Gamble Co., director Champion Fibre Co.,C. Procter, President
Whitmer, Philadelphia; Peter G. Thomson, President Cincinnati, 0.; R. F
Champion Fibre Co.
and Champion Coated Paper Co.
Chino Copper Co., Boston.-All Subscribed.-The
issue of $2,500,000 6% 10-year convertible bonds wasentire
subscribed without call on the underwriters, Hayden, Stone
& Co. (V. 92, p. 1704).-V. 93, p. 48.
Citizens' Gas Co. of Indianapolis.-Sale of Stock.-The
$50,000 stock offered at auction on July 26 was sold at $26 82
per $25 share. Compare V. 93, p. 107.
• Possible Bond Issue.-The company is consider
issue of a small amount of 5% debenture bonds to ing the
provide
for extensions; also later of 5% bonds to retire the outstah
.. ding $575,000 6% bonds(which are subject to call at
any tithe),
and additional improvemen4.1
• 11
While no plans have been macie, it is believed that It will
be necessary
next year to provide for doubling*'the company'
about $500,000 yin' be required.V. 93, P. 107.s coke ovens, for which
Columbus (Ga.) Water Works Co.-Interest Payment.A payment of $25 interest for 6 months per $1,000
bond
will be made on the certificates of deposit from the income
which has accrued since March 25 at the Mercantile Trust
&
Deposit Co., Baltimore.
The property, it is stated, was bid in at foreclosure sale on
March 7 in behalf of the bondholders for the face amount of
the bonds ($392,000),the City of Columbus taking an option
on the plant for 6 months at $400,000. Sue V. 91, p. 1632.
Connecticut River Power Co. of New Hampshire.-Note
Offering-Earnings.-Baker, Ayling & Co., Boston, Philadelphia, &c., have recently been placing at par and int.
6% gold coupon 5-year notes, dated April 1 1910;
$500,000, issued, $314,000. A circular says in substanauth.,
ce:
Due April 1 1015, but redeernabre at 100 and Int. at any int. date
on 60
days' previous notice to the trustee. Par $1,000. Principal
(A. & 0.) payable at American Trust Co., trustee, Boston. and interest
Stock: common, $1,500,000; p
00.000: total
Craelleirtraleir. tr5n
00
First mtge. bonds (authorized and outstanding)-V.89, p. 165...$2,000,0
2,0
30
10
4.
,0
000
0
5-year notes (authorized issue, $500,000)
The remainder of the notes ($186,000) held to retire an equal amount of
the company's indebtedness but bear no interest.
Earnings ofthe Connecticut River Power Companies/Or 6 Mos.end. June 30
,
:204
'
090
1:1
1
Gross earnings
Net, after oper. exp. and taxes (total $62,296)
Bond interest ($2,000,000 Conn. River POWCT Co. 5s and $1,200,000
"Massachusetts Company" 5s)
All note interest, including $314,000 5-year Os
11,269
Balance applicable to payment of notes
i45,932
:3,932
In addition to the 5-year notes, there are $75,400 other notes which
are
being retired rapidly out of earnings. The earnings should retire the
5-year
notes at or before maturity.
The Connecticut River Power Co. of New Hampshire owns a large
modern hydro-electric power plant on the Connecticut River 6 miles
south of
Brattleboro. Vt. and a modern steel tower transmission line to
the Massachusetts State line. This transmission line continues for about
in Massachusetts through Gardner, Fitchburg, Clinton and other 57 miles
communities to Worcester, and Is owned by the Connecticut River
ion Co.
(an unbonded company whose entire cap. stock is ownedTransmiss
chusetts Company'), which buys and distributes the powerby the "Massachusetts, the profit on which, after operating expenses and sold in MassaInterest
charges,
reverts to the Conn. River Poi,ver Co. of N. II. Included
tomers are several electric-light companies and some of among its cusmanufacturing companies In New England. The Income of the best known
Power Co's should be materially increased by four contractsthe Conn. River
but which do not become onerative until the latter part of already signed
1011. The sale
of the balance of the power is now under negotiation.See also
V.89,p.165,350 •
Champion Coated Paper Co., Hamilton, 0.-Ally.-See
Champion Lumber Co. below.-V.92, p. 1704.
Champion Fibro Co., Hamilton, 0.-Bonds of Ally.-See
Champion Lumber Co. below.-V. 87, p. 228.
,
Champion Lumber Co., Philadelphia, Pa.-Bonds Offered.
-Field, Longstreth & Co., Cincinnati, and the Union Trust
Co. of Chicago have recently been placing at par and
blocks of the company's 1st M. 6% serial gold bonds, int.
taxexempt in Penna. Issued $1,722,000. Dated April 11911,
due serially each six months from 1914 to 1928 ($115,0
April 11914, thereafter $56,000 to $59,000), but redeema 00
ble
on any int. date at 1013/
2 and int. on 60 days' notice.
Consolidated Coal Co. of St. Louis.-Exchange of Bonds.& int. (A. & 0.) payable at Provident Life & TrustPrin.
Co.,
Phila., trustee, or First Nat. Bank of Chicago, or Bank of The 1st M. 6s of 1886 ($1,000,000 author.ze I, $836,000
outstanding) will mature on Sept. 1 1911.and are payable at
Scotland, London. A circular reports:
that date at the Mercantile Trust Co., 120 Broadway, N.
Y.
AUG. 12,
THE CHRONICLE
411
of the depositing shareholders
and in behalf
secure money will be borrowed for but
no personal liability will be incurred. has
City. A new 1st M.is to be placed on the property toSept. 1 against the stock deposited,
t and
The committee has under consideration a plan of readjustmen
due
bonds,
6%
fund
sinking
0
$1,500,00
exceeding
not
looking to a merger with another company.
way
under
also
negotiations
of
Holders
42 Broadway;
Chairman,
105.
at
1912
1
Bache,
Sept.
S.
Jules
after
of
callable
consists
now
The
but
committee
1941,
and George O.,
of ex- Newman Erb, William Fellowes Morgan. William P. Hall
bonds maturing Sept. 1 1911 are offered the privilege of
Wollman as counsel and Edward P. Goetz,
the Horwitz, with Woliman &-V.
bonds
for
1,
Aug.
1568.
before
1314,
or
on
p.
bonds
92,
their
Secretary.
changing
com- 42 Broadway, as
Comnew issue on equal terms-bond for bond-either at the 120
Hamilton (0.) Gila & Electric Co.-Bondholders'
Co.,
Trust
e
S.
Mercantil
the
at
or
Louis,
St.
office,
pany's
mittee.-In view of the default on the July coupons, E.H.
Covington, Ky., and F.
Broadway, New York City.
Bank,
Nat.
First
Lee,
President
$100
$5,000.000 in
of Cincinnati have
Incorporated in July 1886 In Illinois. capital stock coal
lands located in Simpson and George H. Warrington
of
shares. Last div., 1% in 1903. Owns 18,000 acresKingdon
Gould; V.-P.,
e for the 1st M. 5% gold
Illinois: daily output capacity 11,000 tons. Pres., Syndicate Trust Bldg., organized as a protective committe
W.L. Schmlok; Sec. As Treas., A. W.Carr. Office,
bonds ($1,000,000) and requests deposits with the Cincinnati
St. Louls.-V. 73. p. 339, 289.
Trust
Co. It is important, the committee says, that action
ion.
-Acquisit
Federal Light & Traction Co. of New York.
be
taken
immediately to protect the bondholders.
1499.
p.
92,
407.-V.
in the
-See Colorado fly., Lt. & Pow. Co. p.
There was recently reported to be a deal pending for a change
- control of the company and the hope has been held out that the overdue
N. Y.
Federal Telephone & Telegraph Co., Buffalo,
practically
said
are
who
directors,
The
15.
Oct.
by
be
met
the Trust interest might
H. L.
Bonds.-The company has made a mortgage to
own the property, are: J. C. Thorns, (President), Robert Ramsey.Todd,
$25,000,000 to
Brenneman, Frank L. Perin, W. W. Myers, R. Pogue, W. R.
Co. of America, as trustee, to secure an issue of
167.
p.
93,
-V.
Garrison.
L.
W. A. Everson and F.
bonds.
Harbison-Walker Refractories Co.-Bonds Called.-Ninetyproperties of the Independent Union
Papers recording the transfer of the Federal Telephone & Telegranh Co.
the
two
bonds of the Harbison-Walker Co. have been called for
Telephone Co. west of Syracuse to
Federal
The
9.
at Buffalo on Aug.
were filed in the County Clerk's office
New York. payment at 105 and interest on Sept. 1 at the Fidelity Title
Western
in
lines
e
long-distanc
independent
the
Co. now owns all
& Trust Co., Pittsburgh, trustee.-V. 92, p. 1502.
Compare V. 03, p. 289.
0
Houston (Tex.) Oil Co.-Deposits.-The readjustment
Fresno Canal & Irrigation Co.-Extended.-The $1,000,00
1 1911 managers, namely Edwin G. Baetjer, Louis S. Zimmerman,
5% 20-year gold bonds of 1891 which fell due on July
Henry J. Bowdoin, Patrick Calhoun, Sidney H. March,
have been extended until July 1 1916.
miles of Irrigation canal in Murray Carleton and Edwards Whitaker, give notice, by adThese bonds sold in London at par; cover 150
Safe Dep. & Tr. Co. Callable
the San Joaquin Valley, Cal. Trustees. Cal.
Brown, vertisement on another page, that all holders of pref. shares
-daorn$500 and $1,000. Int. J. & J. at office of
Ttoil)
)
ingTe&a&I
who wish to participate in the proposed reorganization must
Stock
York
New
the
on
their certificates in negotiable form,beginning Aug.15
Listed
deposit
Co.
-Stocks
Motors
General
and
preferred
the
or before Sept. 16, with either the St.Louis Union
for
on
and
s
certificate
trust
voting
-The
Exchange.
Stock
York
New
or the Mercantile Trust & Deposit Co. of Baltithe
Co.
on
Trust
week
last
listed
were
stock
common
official
the
es under agreement of July 28 1911. The
print
we
depositari
more,
page
t
subsequen
a
on
and
,
Exchange
as
sheet
which will be published aonther week, difof
balance
digest
a
ted
plan,
consolida
the
includes
which
,
statement
six
for
we
understand, from the tentative plan prestatement
loss
radically,
fers
and
profit
the
and
1911
31
March
of
e say:
months ended March 31 1911. A previous statement made viously published in this column. The committe
t plan
The deposit of common stock Is not called for. The readjustmen
to the Stock Exchange when the notes were listed will be
provides that the managers may give the holders of common stock ann option
stated
contributio
stock
20%
the
found in the "Chronicle," issue of July 1, page 53.-V. to
substitute part cash and part stock for
are
In the plan; until the amount and terms of common stock distribution
93, p. 348, 53.
, and an
definitely determined, the deposit of common stock issuspended
given.
-The
terms
Reduced.
and
time
Georgetown (D. O.) Gas Light 0o.-Rate
opportunity to deposit will be afforded and notice of
price of gas has been reduced from $1 to 85 cents per 1,000 -V. 93, p. 107, 289.
Hudson County (N. J.) Water Co.-Suit Dismissed.Cu. ft., effective Dec. 1.-V. 92, p. 1704.
Rellstab in the U. S. Circuit Court at Trenton, N. J.,
d
Judge
-Dividen
Co.
Mines
ted
Consolida
(Nev.)
Goldfield
3 dismissed the suit brought by the receivers to
s
Aug.
on
announce
31
July
dated
circular
official
-An
Earnings.
the
the
g
enforcement of the Act of the Legislature passed
restrain
(includin
share
per
cents
50
of
12
No.
dividend
quarterly
to
prevent the laying of pipes under the Kill von
year
last
share).
per
cents
extra 20
Second Quarter Kull to transport water to Staten Island.
(Tons Treated and Shipped) and Earnings for
Production
Judge Relistab says in the opinion that this is not a case of the United
(June Approximate.)
Inter-State stream in
cost. Consten. Tot. costs. Net profit. States Government seeking to make a crossing of this
Month- Dry tons. Gross value. Op.
$796,152
exercise of its governmental powers, but an attempt to override a.
the
$213,922
$1,815
$212,107
28,253 $1,010,074
April
land by a. corporasubmerged
of
its
the
use
to
opposition
679,537 sovereign State's
909,441 228,654 1,250 229,904
29,450
May
650,000 tion of its own creation, under the claim of being engaged in inter-State
880,000 228,000 2,000 230,000
28,540
June
commerce.-V. 92, p. 884.
86,243 $2,709515 $668,761 $5,065 $673,826 $2,125,689
Total
International Nickel Co.-Proposed Voting Trust.-The
$3,023,697:
"On June 30 1911 the compaay'S cash balances aggregated
12, they will be ap- directors have decided to ask the stockholders to deposit
on July 31, after the disbursement of dividend No.
prOXImately $i,900,000."--V. 92, p. /246.
their stock in a voting truSt for 5 years in order to continue
Great Western Cereal Co., Chidago.-Offer Withdrawn.- the present management for"5 years.
The trustees will include members of the executive committee, consisting
Thq new President, F.P.Sawyer,on June 27 sent notice to the
of Ambrose Monell, President of the company; Robert M. Thompson,
bondholders that the'company has withdrawn its original
of the Board; E. F. Wood, 1st Vice-Pres.; J. R. De Lamar,
Chairman
have agreed to deposit their
offer to pay to the trustee $580,000 of the $1,000,000 re- 2d Vice-Pres., and E. C. Converse. They
the
resist
as they are said to represent a majority of the stack, the success
will
stocks,and
and
plants,
ceived from the recent sale of two
to
be
is
of
assured.
plan
the
stated
The Bankers Trust Co., it Is understood, will act as depository, while
demands of bondholders for any portion thereof, except
the Guaranty Trust Co. will be the registrar. No circular has as yet been
$225,000, which is approximately the amount of the sinking issued
to the stockholders of the company, but it is said that as soon as the
fund arrears on the 6% bonds. The remainder of the pro- new certificates have been engraved.a circular will be issued asking the
improv's.
of
s to deposit their holdings.-V. 92, p. 1559.
account
on
stockholder
be
used
ceeds, the company says, will
who has formed a protective
On Aug. 2, Leverintr Moore, a bondholder &
onal Paper Co., New York.-Reciprocity Act.Internati
Bank
National
Commercial
committee, served notice on the Continental
In
there
held
fund
Reciprocity Bill, signed by President Taft on
million-dollar
the
Canadian
of
the
The
removal
prevent
to
of Chicago
company, it Is said, has,
once as to the part relating to
trust for the protection of the bondholders. The
the money, July 26, became a law at
the consent of a majority of the bondholders for the transfer of
wood pulp and paper board.
paper,
print
of
ons
importati
-V.
p.
93,
289.
protests.
but Mr. Moore
new law provides free entry to all such imports from private lands
Guggenheim Exploration Co.-Sale of Common Stock in orThe
export tax has been levied. British
no
provided
lands,
from Crown
American Smelters' Securities Co.-See Am. Smelting & Columbia, Ontario and Quebec impose export duties on wood. New
92, p. 1439.
1.-V.
Oct.
so
after
do
will
Brunswick
393.
p.
92,
p.
291.-V.
Refining Co., V. 93,
International Smelting & Refining Co.-$4,000,000 of
Hackley-Phelps-Bonnell Co., Wisconsin.-Offering of
Timber Bonds.-Yard, Otis & Taylor, the new Chicago in- Stock Owned by Amalgamated Copper Co.-See report of that
vestment firm, have bought from Finley Barrell & Co., the company in V. 92, p. 1559.-V. 92, p. 1559.
remainder of the issue of $100,000 1st M. sinking fund gold
Keystone Telephone Co. of Philadelphia.-Notes Sold.6s (dated April 1 1911 and due serially from 1912 to 1925); The company has sold to Dick Bros. & Co. $300,000 twoA
and are offering them to investors at par and interest.
year 5% notes, the proceeds of which will be used for excircular reports:
and betterments to the plant, both in and out of the
tensions
Par $500 and
Interest payable A. & 0. at Grand Rapids and Chicago. int.
be
to
made within the next two years. On its present
city,
reverse
In
and
ji
102
1
at
Oct.
after
1012
and
on
Callable
$1,000 (e).
to
order of their maturity. Trustees, Michigan Trust Co., Grand Rapids, basis of earnings, the company, it is stated, should be able
and Frederick. A. Yard, Chicago.
earnings, and this,
of
out
notes
these
up
for
taking
provide
includnow
acquired,
hereafter
or
owned
oroperty
all
A closed 1st M. on
aggre- it is said by one of the management, may be done.-V.
ing lands and sta;illing timber in Vitas and Forrest. counties, Wise.,
power
-1
gating 22,000 acres, together with saw mills, electric light plant, water
times p. 397.
five
almost
Total
of
property
value
(te.
plant, the townof liackley,
Called.-The'
-Bonds
Chicago.
Co.,
the bont,lesi debt. Quick assets alone $384,000. Earnings yearly since
Ice
cker
Knickerbo
incorporation several times the interest charges on this Issue. Sinking fund
$1,896,000 outstanding 1st M. 5% gold bonds of 1898 have
$2 50 per 1.000 ft. (log snain) on all timber nut.
Hall Signal Co., New York.-85% of Stock Deposited.- been called for redemption at 105 and int. at the Chicago
Committee Asks Authority to Borrow $100,000.-More than Title & Trust Co. on Oct. 1 1911. See option, V. 93, p.349.
85% of the capital stock (which consists of $1,900,000 comLouisville (Ky.) Gas Co.-New Officers.-Henry Almstedt,
mon stock and $100,000 6% non-cumulative pref.) has been who was chosen a director in place of John Stites at the annual
of,
t
agreemen
under
Co.
Trust
Empire
with
the
deposited
stockholders' meeting, was recently elected First Vice-PresiMay 10 1911 (V.92, p. 1314, 1568). The readjustment com- dent, in place of Mr. Stites.
working
for
$100,000
to
borrow
asks
authority
now
mittee
Fred, M. Sackett has been re-elected joint President of the Louisville Gas
capital, &c., for the company.
Co. and its subsidiary. the Louisville Lighting Co. The executive comAbstract of Circular Signed by Newman Erb, V.-Chair.of Committee, Aug.m.
Hall
After Investigation your committee finds that it is necessary If the the
company is to continue Its business under normal conditions, pending
to
readjustment of Its affairs, that sufficient funds be promptly provided
current
supply needed working capital and to acquire by purchase the
aggregating
hand
on
orders
and
supply bills. The company has contracts
upwards of $450,000 which cannot be properly filled unless the needed
assistance be now given. The committee, therefore, desires authority to
incur obligations, for the time being, of not exceeding $100,000. The
mittee is composed of Fred.M. Sackett, Henry Almstedt, James B. Brown,
John H. Whallen and D. X. Murphy.-V. 93, p. 232.
(W.H.) McElwain Co.,Boston.-Stock Listed.-The Boston
Stock Exch has listed the $2,500,000 first pref.-V. 93, p.42.
Manufacturers' Light & Heat Co., Pittsburgh.-Report.-For 6 months ending June 30:
412
Six
Months.
1911
1910
THE CHRONICLE
[VoL.
Gross
Earnings.
$2,805,943
3,090,660
Net (after
Other Interest &
Balance, Proposed Plan (Dated July 22) of Creditors'
Committee, Organized under
Taxes).
Income. Renewals.
Surplus.
Agreement of March 30 1911.
$1,301,262 $35,563 $232,110 $1,104,715
1,661,297
3,901
309,915
1,355,283 Present Capitalization and Indebtedness (Subject to Verification, Establish.
Re-financing Since Last March.-Press reports state that a Capital stock outstanding ment of Legality,
circular will shortly be sent to the stockholders setting forth 1st M.bonds(a)outstanding,$398,500;(b)held by Central Trust Co. $800,000as collateral for a note of $300,000 and interest, $400,000
substantially as follows what has been accomplished in the Unsecured
798,500,
debts other than for merchandise
1,150,000
Merchandise debts other than payable in products
way of re-financing since the special meeting last March:
143,000
Probable
deficiency
claim
of
Central
Trust
Co. after sale of collat
Of the $1,050,000 received from the Hope Gas Co. for property sold
75,000
The committee believes that with proper
to it.
$800,000 was applied to the purchase and
cancellation of Wheeling collateral efficient management the company can be putfinancial organization and
upon a revenue-producing
trust bonds and $241,075 to reimbursement for permanent
basis,
improvement
but
it
is
no
s,
longer
in
their
power
to
prevent a receivership. In order
leaving $8,924 with the trustee. There was also paid from the
general fund that there may be no interference with the business,
$136,970, making the total disbursemen
the committee has
for bond redemption $963,970, arranged for a loan to be made to the receivers
thereby satisfying in full the mortgage oftsFeb.
by N. Y. banks to enable
2 1903.
receivers
the
to
continue
the
business at its present volume.
The $2,400,000 bonds issued under the mortgage of April 1
1907, heretoThe committee shall acquire the business, assets and good-will
ore used as collateral, were sold to the Colonial Trust Co. of Pittsburgh
by purat chase from the
or trustees under authority of the Court,subject
par and int.
hfell, in addition to $7,499 disbursed from general funds, the mortgage toreceivers
to
the Cincinnati Trust Co. of Cincinnati, dated Nov.
was used to retire all outstanding notes and bills payable,
1 1904,
and int, on these; securing $800,000 1st M. 40-year gold bonds, of
also the commissions due the Colonial Trust Co. under agreements
which $798,500 will be
outstanding
of
(compare
V.
80,
p.
874,
1238;
V.79, p. 1644); and shall transfer
Dec. 20 1906 and Oct. 1 1909, amounting in all to $2,395,899.
the
to a corporation of similar name to be organized
President Gill says: "By these arrangements the debt of the company is sidessame
in Ohio. Bo
the plant at Dayton, with its full equipment of machinery
converted to a bonded debt of $5,900,000, little more than last year'Ef
and patents,
patterns,
gross
&c.
the
new
company
will have approximately $450,000 In actual
income, requiring annual payments not to exceed $700,000, the
'
on hand, &c., and approximately $180,000 of good,
be all pdid by Oct. 1920. The result is a decrease in the floating bonds to inventory, stock
June 30 of $2,516,184 (bills payable, $2,263,184; accounts debt since collectible accounts and bills receivable. The committee also plans to
payable. secure $150,000 cash capital, for which the new company shall issue some
$253,000), and an increase in bonded debt of $1,529,000, a net reduction
of comparatively long-term securities. The
of the total debt of $987.000. In addition there has been added to perman- form
stock of the
present company must be eliminated. The floating capitalapproximate
ent assets property worth $240,075, and we still have a satisfactory
ly
cash $1,368,000, will be converted into securities of the newdebt,
company.
balance.
"With the annual debt requirements confined to $700,000, or less, and a Approximate Capitalization of New Co.(Stock and Bonds)-No Floating Debt.
diminished and further diminishing charge for interest, and with the indus- Bonds secured by a mortgage or mortgages sufficient to cover the
present 1st M. bonds and $150,000 new capital,
trial conditions we have had in the past, or even the same industrial condi$950,000
Junior securities representing present unsecured say
tions as have prevailed for the first half of this year, it is believed that
obligations (if
deposited), say
future of the company is encouraging." Compare V. 93, p. 232, 108. the
If the net cash held by the receivers shall not prove sufficient 1,400,000
to meet the
Manufacturers' Water Co., Philadelphia.-Notes.-This expenses of the receivership and the expenses of the committee,
above-mentioned capitalization must be altered to that extent. then the
company, controlled by the Cambria Steel Co. has increased stock
All new
will, before distribution to the depositing creditors, be subject
to a
its indebtedness from $4,000,000 to $5,000,000
', represented voting trust for a period within the committee's discretion. Any merby an issue of ordinary notes, for the purpose of completing chandise or other unsecured creditor may execute the
agreement
of March 30 1911, and having deposited the same withcreditors'
the depositary, the
improvements already begun. Compare V. 90, p. 1365.
Bankers' Trust Co., No. 7 Wall St., N.
City, together with the evidences of indebtedness or proofs in supportY.
of the claim, shall be entitled to
Marmet Coal Co., Cincinnati.-New Securities.-This old participate
pro rata in all of the benefits apportionable to the creditors
established company filed in Ohio on or about July 3 (1) a represented by the committee.
[Signed: William H. Taylor, Chairman; Bradley Martin Jr., Edward
certificate of increase of capital stock from $500,000 to Perine,
T.
C. Poillon and Henry Rogers Winthrop, with Sullivan &
$1,500,000 and (2) a mortgage to secure not exceeding CromwellWilliam
and John Quinn, both of N. Y. City, as Counsel.]
[President Reichmann filed a petition in bankruptcy
$1,500,000 5% bonds dated June 1 1911 and due June 1 with
for himself last May
liabilities estimated at $2,000,000. A considerable
block of the
1931, but subject to call on or after June 1 1916 at 105. company's
stock is held among the assets of the defunct Carnegie
Trust Co.
of
Y.,
N.
of
which
"Cincinnat
The
Mr. Reichmann was formerly Pres.]-V. 80, p. 1238.
i Enquirer" on July 4 said:
The first issue will be $650,000, and they will be marketed by Rudolph
Pure Oil Co., Philadelphia.-Dividend on 10% Basis.Kleybolte & Co. The new money is to be used in extending the operations The directors
on Aug. 8 declared a dividend of 21 2% on the
of the company, including purchase of new coal property in West
Virginia *($4,880,335)
and increasing the mine output from 300,000 to about 500,000 tons annually.
common stock, payable Sept. 1 19111
On June 1 1911 a quarterly dividend of 2% was paid on the common
Massachusetts Coal & Power Co.-Receiver's Sale.-The
comparing with 1Y,% in March 1911 and Dec. 1910 and 2% from
property was bid in for $30,000 by J. D. A. Haley, repre- stock,
March 1906 to Sept. 1910 inclusive.
Nothing authoritative has been forthcoming with regard to the action
senting the reorganization committee. The proceeds will,
by the shareholders at their meeting in Pittsburgh several
ago.
it is stated, allow payment to creditors of about 60 cents taken
At the time it was asserted, more or less positively,that a deal ofmonths
importance
was on foot establishing closer relations with foreign or other interests.
on the dollar.
V. 92, p. 1315.
The stock will be wiped out. A $20,000 mtge. has been raised on the
property and the lands will be gradually sold for farm purposes. Mineral
San Joaquin Light & Power Corporation.-Bonds Offered.
rights will be retained for the present, as the reorganization committee feel
-Earnings.-N. W. Halsey & Co., N. Y., Phila., Chic. and
that they may have enhanced value later on.-V. 92, p. 1181.
Menasha (Wis.) Paper Co.-Stock.-A certificate was filed San Fr., are offering, by advertisement on another page, at
in Wisconsin on May 25 increasing the capital stock from 93 and int., yielding 5.43% income, the small unsold portion
of a block of "first and refunding mortgage 5%" gold sink$500,000 to $1,000,000.
ing fund bonds, series B, dated 1910, due 1950. Total
Output capacity In 1909 was 36,000 lbs. of newspaper, manila, &e.,
bonded debt including prior liens, $6,505,000.
every 24 hours. Pres., S. E. Smith; Sec.-Treas., M. H. Balton.
Mississippi River Power Co.-Listed in London.-The Condensed Letter of Pres. Wm. G. Kerckhoff, Los Angeles June 17, 1911.
stock, authorized, $15,000,000; outstanding
London Stock Exchange has listed scrip for $3,500,000 of Common
$10,000,000
Preferred stock, authorized, $10,000,000; outstanding
5,500,000
the $15,000,000 1st M.5% gold bonds. Compare V.92,p.729. First and ref. bonds,
auth., $25,000,000; out.'g, incl. this issue. 2,822,000
Reserved to retire underlying bonds on a part of the property
3,683,000
Montreal Light Heat & Power Co.-Bonds Called.-Fifteen Reserved
for improvements and extensions at 85%
of cost, with earns, restrictions as outlined below.$18,495,000
($15,000) 1st mortgage 5% gold bonds dated 1906 of the
Provincial Light Heat & Power Co. have been drawn for theOur outstanding bonds (including those now offered) have been issued for
of a massive dam at the outlet of the Crane Valley, on the
payment at 105 and int. on Sept. 1 at the National Trust San completion
Joaquin River, which has increased the
of the Crane Valley
reservoir to 51,000 acre feet, thus providingcapacity
Co., Ltd., Montreal, trustee.-V. 93, p. 167.
ample water to operate the
company's hydraulic plants to their full capacity
tile entire season,
during
Mountain States (Bell) Telephone & Telegraph Co., Den- with a large amount in reserve; the completion of the new
San Joaquin
power house (21,400 h.p. capacity); the erection
a steam turbine plant
of
ver.-Capitalization.-While the authorized capital stock is at
Bakersfield (10,667 h.p.); the completion of a high-voltage transmission
$50,000,000, we are informed that it may be stated with line, connecting all the properties; double tracking and otherwise improving
Bakersfield Electric fly., and making other betterments which will
reasonable accuracy that the issued stock will be about the
largely increase the earning power of the corporation.
$19,000,000 and that the property accounts of the merged
The trust deed provides that the escrow bonds (now amounting to
can be issued only for 85% of the cash cost of extensions and$18,companies will show a book value somewhere in the neigh- 495,000)
provements, and then only when the net earnings have been double im
the
borhood of $24,000,000. The net revenue it is believed will Interest charges,
including the bonds for which application is made; if the
be sufficient to insure a 7% dividend. Compare V.93,p.290. extensions are of a magnitude requiring an expenditure of $2,500,000
or
more (which would only be required for the construction of new
plants.
National Light & Improvement Co.-Stock Decrease.- materially increasing the company's generating capacity), bonds may
be
issued when for the preceding twelve months net earnings have
The company has filed a certificate in New Jersey:
been 13i
times the Interest on all bonds outstanding and those proposed to be
Issued
decrease
the capital stock by retiring the 1,202 shares thereof
To
by the corporation and by reducing the par value of the remaining owned
shares
from $100 to $20 per share, so that the capital stock as thus decreased
shall
be $175,960. President Thos. H. West. New Jersey representativ
e,
Corporation Trust Co., Jersey City,
In addition to the sinking fund iprotecting the underlying bonds, the
first
and refunding mortgage creates large additional sinking funds.
The corporation owns and has in operation at tile present time three im
portant hydraulic plants, a steam reserve plant in Fresno and
a modern
steam turbine plant in Bakersfield. The electric generating capacity
of
Pacific (Bell) Telephone & Telegraph Co.-All Sold.- these plants will amount to 37.000 h.p. upon completion of the generating
units now in process of installation. The corporation has at present 500
N. W. Harris & Co. and Bond & Goodwin announced on miles of high-tension transmission line in operation, with a considerable
Aug. 7 that the $2,000,000 5% bonds offered by them last amount of additional lines under construction. The current
is transformed
at 20 sub-stations, and distributed through 400 miles of distributing
lines.
week had all been sold. Compare V. 93, p. 349.Gas is distributed in Bakersfield, Kern, Merced, Selina, and a street railway
is
system
operated
and Kern. The territory in which the
Parker Cotton Mills Co., Greenville, S. O.-Acquisitions.- corporation operatesin Bakersfield
competition) covers seven of the principal
The company has acquired control of the Ottaray Mills of counties of the fertile (without
San Joaquin Valley from Merced to Bakersfield, &c.,
Mariposa, Merced, Madera, Fresno, Tulare,
Union, S. C. and the Pine Creek Mfg. Co. of Camden, S. C. ai.e.,
Kings and Kern counties,
territory about 195 miles in length by 78 in width,
with a population
Compare V.'
93, p. 233.
amounting in 1910 to 192,514 and increasing rapidly.
Earnings for Calendar Years.
Pittsburgh (Pa.) Coal Co.-Circular on Sale and Merger.1910.
1909.
1910.
1909.
W. N. Burt Jr. & Co., Pittsburgh, have issued an interest- Gross income___$1,052,463
$754,966 Bond interest__ $197,095 $164,853
ing analysis of the effect of the Pittsburgh Coal-Monongahela Net earns. (after
hal., sur., for
taxes
$677,685$489,192
s. 1., divs.,&c. $480,590 $324,539
River Consolidated Coal & Coke Co. sale of coal lands and
As compared with net earnings for 1910, amounting to $677,685, a full
year's interest on the entire $6,505,000 bonds now outstanding, including
merger plan.-V. 93, p. 235.
the present
amounts to $340,590. In other words, net earnings
Pittsburgh (Kan.) Water Supply Co.-Sale.-See Pitts- last year wereissue,
approximately double bond interest on all bonds outstanding
and those now to be issued.
burgh in "State and City" Department.
The generating capacity of the corporation upon completion of the
plants
Platt Iron Works Co., Dayton, O.-Receivership Plan.- now under construction, the cost of which is
provided for by the
above, will be approximately double that from which thebonds
Judge Hollister in the United States Court at Cincinnati on included
1910
earnings were derived. See further particulars in V. 91, p. 1332.
(California advices state definitely that Henry E. Huntington
July 24 appointed George R. Young and Dixon Boardman
and
associates have arranged for bringing under one control, if not for an
of Dayton as receivers for the company in involuntary consolidation
absolute
, the Pacific Light & Power Corporation-see page
65 of
bankruptcy proceedings brought by creditors, among them "El. By. Section"
-and the San Joaquin Light & Power Corporation, and
preparing to float in this connection $10,000,000 bonds,
the Mercantile Nat. Bank of N. Y.(holder of $150,000 in are
new $40.000,000 blanket issue, to provide for further power possiblyt of a
development.
demand notes). This was preparatory to reorganization on electrical irrigation, &c.-Ed.1-V. 93, p. 350.
the basis outlined below.
For other Investment News see page 414.
413
THE CHRONICLE
AUG. 12 1911.]
14i:forts anti Documents.
GENERAL MOTORS COMPANY
(INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY.)
THE LISTING ON
OFFICIAL STATEMENT TO THE NEW YORK STOCK EXCHANGE IN CONNECTION WITH
THE EXCHANGE OF THE VOTING TRUST CERTIFICATES FOR 7% CUMULATIVE PREFERRED
STOCK. VOTING TRUST CERTIFICATES FOR COMMON STOCK.
New York, July 20 1911.
Referring to said Company's application, dated June 22
1911, to list $15,000,000 of its 6% First Lien Five-Year
Sinking Fund Gold Coupon Notes, application is hereby made
by the Voting Trustees to have placed on the Regular List
-of the New York Stock Exchange the following securities
now issued and outstanding:
the Company at the termination of the Voting Trust Agreement, and in the meantime to receive payments equal to the
cash dividends, if any, collected on the deposited stock; but
no voting right passes by the Voting Trust Certificates. All
dividends which have been declared upon the Preferred Stock
since the formation of the Voting Trust have been distributed to the holders of the Voting Trust Certificates representing such Preferred Stock. No dividends have been declared upon the Common Stock since the formation of the
Voting Trust.
Section 8 of the Voting Trust Agreement provides as
follows:
and to authorize the listing, from time to time upon official
notice to the New York Stock Exchange that they have
been issued in exchange for, and are represented by, an
equal amount of shares of stock of General Motors Company:
"The Voting Trustees possess, and shall be entitled in their discretion to
exercise, all rights and powers of absolute owners of said stock, including
the right to vote for every purpose and to conse t to any corporate act of
said General Motors Company. The Voting Trustees will not, however,
during the pendency of this Agreement. vote In respect of the shares of
the Capital Stock of said General Motors Company held by them, to authorize any increase in the amount of the Preferred Stock of said General Motors Company at present authorized, viz.: $20,000,000, except with the
consent, given at a meeting called by the Voting Trustees for the purpose,
of holders of a maojrity of such part of the Trust Certificates for each class
of stock of said Company as shall be represented at such meeting, the holders of each class of Trust Certificates voting separately and either in person
or by proxy; and the Voting Trustees will not, during the pendency of this
Agreement, vote in respect of the shares of the stock of said General Motors
Company held by them, to authorize any increase in the amount of the
Common Stock of said General Motors Company at present authorized.
viz.: $40,000,000, except with the consent, given at a meeting called by the
Voting Trustees for the purpose, of the holders of a majority of such part
of the Trust Certificates for the Common Stock of said Company as shall be
represented at such meeting; the holders of such Trust Certificates voting
either in person or by proxy."
Trust Certificates, issued under a
(a) $12,311,300 par value Voting
shares of
Voting Trust Agreement herein described, representing 123,113 General
-the par value of $100 each of 7% Cumulative Preferred Stock of
Motors Company;
issued under said
(b) $14,302,200 par value of Voting Trust Certificates,
of the par value of
Voting Trust Agreement, representing 143,022 shares
Company;
Motors
General
of
Stock
$100 each of Common
(a) $2,107,200 par value Voting Trust Certificates, representing 21,072
shares of said Preferred Stock;
(b) $1,483,500 par value Voting Trust Certificates, representing 14,835
shares of said Common Stock.
The above Voting Trust Certificates represent a substantial majority each of the outstanding Preferred and Common
Stocks of the Company, deposited under a Voting Trust
Agreement, dated Oct. 11910, to be held until Oct. 1 1915
and until the General Motors Company shall have paid in
full its 6% First Lien Five-Year Sinking Fund Gold Notes,
at any time issued under its Deed of Trust dated as of Oct. 1
1910, made to Central Trust Company of New York, Trustee.
The Voting Trustees may, however, make earlier delivery
at any tune in their discretion. The Voting Trustees are
James N. Wallace, Frederick Strauss, James J. Storrow,
William C. Durant and Anthony N. Brady. Voting Trust
Certificates are issued thereunder by the Voting Trustees,
signed by their Agent, Central Trust Company of New York,
which entitle the holders to receive the Stock Certificates of
The following table shows the amount of Capital Stock of
General Motors Company authorized, the amount issued and
the amount thereof on July 6 1911:(a) Deposited under said
Voting Trust Agreement, (b) Owned by subsidiary companies of General Motors Company, (c) In treasury of General
Motors Company, and (d) Held by sundry owners who have
not yet exchanged their stock for Voting Trust Certificates:
AUTHORIZED.
Preferred
Common
$20,000,000 00
40,000,000 00
(a) Deposited under
the Voting 7'rust
Agreement.
$12,311,300 00
14,302,200 00
The sole funded debt of General Motors Company consists of $15,000,000 6% First Lien Five-Year Sinking Fund
Gold Coupon Notes already listed under application No. A
3986. None of the subsidiary companies of General Motors
Company has any outstanding funded debt other than that
owned by General Motors Company and pledged as security
for said notes.
General Motors Company was incorporated on Sept. 16
1908 under the laws of the State of New Jersey. Its charter
is perpetual. The Company is an original organization and
not a consolidation of previously existing firms or corporations.
The chief objects for which the Company was formed, and
its powers, are briefly as follows:
To manufacture and deal in motors, motor cars and machines; to acquire from others their business if of the same
general character as that for which this Company is organized; to acquire patents and trade-marks; to acquire and
dispose of by sale, mortgage, or otherwise, securities of
other corporations with similar corporate powers and to aid
other corporations.
The Company does not directly own or operate any inanitfacturiN4 plants, its interests therein being represented by
ownership of securities of other corporations.
The Preferred Stock of the Company is preferred as to dividends, payable semi-annually at the rate of 7% per annum,
the regular dividend dates being April 1 and Oct. 1; and,
in case of liquidation, is preferred as to principal, at par,
and as to unpaid dividends.
The Amended Certificate of Incorporation of the Company
contains the following provisions:
ISSUED
(b) Owned by (c) /n Treasury of
General Motors
Subsidiary
Company.
Companies.
$1,892,100 00
$1,727,800 00
3,766,346 95
321,900 00
01) Held by
Total Issued.
Sundry Owners.
$18,038,400 00
$2,107,200 00
19,874,030 00
1,483,583 05
accrued thereon before any amount shall be paid to the holders of the Common Stock; and after the payments to the holders of the Preferred Stock
of its par value, and the unpaid accrued dividends thereon, the remaining
assets and funds shall be divided and paid to the holders of the Common
Stock pro rata according to their respective shares."
The outstanding Capital Stock of the Company is fully
paid and no personal liability attaches to its ownership.
Dividends of 7% per annum have been paid on the Preferred Stock since the organization of the Company, Sept. 16
was paid
1908. The last semi-annual dividend of 3
April 1 1911, and there are no accumulated unpaid dividends.
No cash dividends have as yet been paid on the Common
Stock.
GENERAL MOTORS COMPANY.
CONSOLIDATED PROFIT AND LOSS STATEMENT OF GENERAL
MOTORS CO. AND SUBSIDIARY COMPANIES FOR
SIX MONTHS ENDED MARCH 31 1911.
General Motors
Co.'s Stockholding
Proportion.
Total.
$4,387,968 30 $3,829,541 78
Gross profit
1,068,217 25
1,142,394 40
Selling, administrative and general expense
33,245,573 90
182,166 07
$2,761,324 53
170,713 77
$3,427,739 97
Deduct interest on Six per Cent Five-year
450,000 00
Sinking Fund Gold Notes
$2,932,038 30
$2,977,739 97
$2,482,038 30
Operating profit
Add other income
Surplus, six months
SURPLUS ACCOUNT.
$1,349,789 07
Surplus October 1 1910
2,482,038 30
Surplus six months ended March 31 1911
183,816 32
Add other income
Deductions:
Preferred Stock dividends for one year, 7% $890,267 00
327,882 77
Sundry charges
450,000 00
$4,015,643 69
1,218,149 77
$2,797,493 92
"The holders of the Preferred Stock shall be entitled to receive, when Surplus March 31 1911_
and as declared, from the surplus of the corporation or from the net profits
SHEET OF THE COMarising from Its business, yearly dividends at the rate of Seven per Centum CONDENSED CONSOLIDATED BALANCE
PANY AND SUBSIDIARIES LISTED IN SCHEDULE "A"
(7%) per annum, and no more, payable semi-annually on dates to be fixed
AS AT MARCH 31 1911.
by the By-Laws. The dividends on the Preferred Stock shall be cumuAssets.
lative, and shall be payable before any dividend on the Common Stock
that,
Fixed
if
assets:
in
so
apart,
any
to
year
amounting
dividends
set
or
paid
shall be
$15,253,870 97
Real estate, plant and equipment
Seven per Centum (7%) shall not have been paid thereon, the deficiency
1,815,719 86
Zce
shall be paid before any dividends shall be paid upon or set apart for the Patents, agreements,
506,140 67
investments
Miscellaneous
Common Stock.
assets:
working
"Whenever all cumulative dividends on the Preferred Stock for all pre- Current and
$3,718,521 42 .
and on hand
in
Cash
banks
and
shall
declared
been
and
have
payable,
become
have
shall
years
vious
4,230,347 23
Notes and accounts receivable
the accrued semi-annual installments for the current year shall have been
40,976 89
Deferred charges
declared, and the corporation shall have paid such cumulative dividends
products finished or in
Manufactured
accrued
shall
or
have
semi-annual
such
installments,
and
years
for previous
80
supplies
and
23,860,276
materials
process,
net
the
profits arising from its business
set aside from its surplus or from
31,850,122 34
a sum sufficient for the payment thereof, the Board of Directors may
book
over
of
excess
value
appraised
representing
Good-will,
Stock,
payable
out
Common
or
thereafter,
then
declare dividends on the
14,853,855 91
owned
companies
subsidiary
of
stocks
of
value
of any remaining surplus or any such net profits. In the event of any liquidation or dissolution or winding-up (whether voluntary or otherwise) of
75
$64,279,709
Stock
shall
be
to
Preferred
paid
be
entitled
the corporation, the holders of
their shares, and the unpaid dividends
In full both the par amount
414
THE CHRONICLE
Liabilities.
Capital Stock:
Preferred, issued
$18,038,400 00
Less in treasury:
General Motors Co, 9
... 1
I
Less In treasury:
3,616,100 144L
Subsidiary companies_ __ _ 1,734,100
voilg14,422,300 00
Common, issued
$19,874,030 00
Less in treasury:
General Motors Co
53,728,5001
}
Less in treasury:
4,050,400 00
Subsidiarycompanies_
321,900
15,823,630 00
6% First Lien Five-year Sinking Fund Gold Notes
Outstanding Capital Stock (par value) and surplus of Sub- 15,000,000 00
sidiary Companies, being the portion not owned by
General Motors Company:
Capital Stock
$1,510,270 00
Surplus
1,216,239 45
2,726,509 45
Notes and accounts payable
6,508,185 81
Reserves
7,001,590
57
Surplus
2,707,493 92
[VoL.
employ of the company he is to receive a participation certificate
entitling
him to all cash or stock dividends declared on the stock, and In addition
a
dividend of $5 per share each year for 5 years on the participati
on certificate.
Compare V. 92, p. 602.
United Electric Co. of New Jersey.—Earnings.--J. S.
Rippe! of Newark, N. J., who is offering a block of 1st M.
4s at a price to net 53%,reports:
Year—
Gross.
1910
$3,662,553
1906
2,539,106
1902
1,677,322
—V. 90, p. 1106.
ExpenV,'S
$1,596,822
1,236,938
923,908
Net.
$2,065,731
1,352,168
753,414
Bond Int.
Surplus.
$778,250 $1,287,481
770,864
572,304
698 133
55,281
United States Smelting, Refining & Mining Co., Boston.—
Sale of Notes.—Lee, Higginson & Co., N. Y., Boston and
Chicago, and Higginson & Co., London, purchased this week
$4,000,000 5% three-year gold notes dated Aug. 11011 and
due Aug. 1 1914. Trustee, Old Colony Trust Co., Boston.
Par $1,000 (c). Int. F. & A. in Boston. The notes, first
$64,279,709 75
offered at 973 and now quoted at 98, have all or nearly all
The Voting Trustees agree that they will maintain an of- been sold.
fice in the Borough of Manhattan, City of New York, for
Cap talization.
the transfer and registration of the Voting Trust Certificates, 5% three-year notes, total auth. ec issued (this issue)
and give the Stock Exchange at least ten days' notice in ad- Stock outstanding: Pref., 7% cum., $24,313,700; common,$4,000,000
$17,553,825; total
41,867,525
vance of the closing of the books for any purpose.
Bankers' Summary of Official Information.
There Is no mortgage debt on the company's properties.
• The principal office of the Voting Trustees is at the CenThe
company
covenants that no mortgage will be placed thereon without equally
securtral Trust Company of New York, the agent for the issue ing
these notes. This Issue will provide funds more than sufficient to
pay
and transfer of the Voting Trust Certificates. The Columbia off all present floating debt. Present market
value of company's pref. and
stock is over $36,000,000. Cash dividends have been paid conTrust Company (of New York) is the Registrar of said cer- common
tinuously on the pref. at 7% since organization, Jan. 1906, and
on the common at 4% or more since Jan. 1907—aggregating 511,486,619; present
tificates.: 1. 1
rate
on pref., 7%; on common, 4%. Net current assets alone are
more than
1.:JAMES N. WALLACE,
$7,100,000, or 1 X times amount of these notes after deducting
all
current
1:FREDERICK STRAUSS,
liabilities.
Net earnings for 1910, $2,483,466, or more than 12 times interest on these
*. JAMES J. STORROW, Voting Trustees. notes.
This was after deducting $1,067,068 for depreciatio
improve•
• ' • • • ANTHONY N. BRADY,
ments and reserve. Average annual net earnings last 3 years,n,
$2,815,783
or
14
times
interest on these notes. Business well diversified, the relative.
.•
'
•
•
. . . .
. WILLIAM C. DURANT,
values of metals produced in 1910 being: Copper, 25.90%; lead,
16.33%;
July 31 1911.
liver, 41.14%; gold, 16.63% —V. 93.
P• 233.
United States Steel Corporation.—Subsidiaries' Orders
The Committee on Stock List, under authority from the
Governing Committee, directs that on Aug.4 1911 the above- July 31.—The report of orders given out Aug. 10 shows
described $12,311,300 Preferred Stock Voting Trust Cer- unfilled orders on the books July 31 aggregating 3,584,085
tificates and $14,302,200. Common Stock Voting Trust Cer- tons, being an increase of 223,027 tons during July.
Tonnage of Unfilled Orders (00,000 omitted)—All on New Basis.
tificates be admitted to the list, and that $2,107,200 Voting
1911
Trust Certificates for Preferred Stock and $1,483,500 Voting July. June.
1910
1909. 1904.
Apr. Mch.Feb. Jan, Dec. Oct. Sept. July. Afch.
Sep
Trust Certificates for Common Stock be added to the list, 3,5 3,3 May.
3,1 3,2 3,4 3,4 3,1 2,7 2,8 3,1 3,9 5,4 Dec.
5,9 2,4
on official notice of issuance in exchange for outstanding
Called.—($98,000) 1st M.6s of the Johnson Co. have been
Preferred and Common Stock, making the total amounts to drawn for payment
at 105 and interest on Sept. 1 at the
be listed: Preferred Stock Voting Trust Certificates, $14,418,- office of United
States Trust Co., N. Y., trustee.—V. 93,
500; Common Stock Voting Trust Certificates, $15,785,700.
p. 290, 284.
WM. W. HEATON, Chairman.
Washington (D. O.) Gas Light Co.—Dividends.--A quarGEORGE W. ELY, Secretary.
terly dividend of 6% was paid Aug. 1 on the $2,600,000
stock, making 24% paid out of earnings this year.
Republic Iron & Steel Co.—Report.—See Annual Reports.
The average dividends paid in previous years has been between
15 and
20%, and the 24% paid this year is taken to indicate that
Removal of New York Office.—The company's New York rate
the lower gas
has prevailed for two years has been profitable. See Georgeoffice has been removed from 115 Broadway to the Whitehall townwhich
Gas Co. above.—V. 92, p. 1706.
Bldg., 17 Battery Place.—V. 93, p. 51.
White River Light & Power,Co., Ind.—Sale.—The WainSt. Cloud (Minn.) Water Power Co.—New Stock.—The wright Trust Co. of Noblesville, which was recently named
capital stock was recently increased from $25,000 to $600,- as receiver or trustee in bankruptcy, will, it is stated,
Offer
000. Of this increase $475,000 is common stock, which has the property for sale on,;(Aug. 15; upset price $30,000.
been issued and paid for; $100,000 pref. is not yet issued. —V. 91, p. 12(35.
•,
The bonded debt is $300,000; $250,000 has been issued, and
Wilkes-Barre(Pa.)Company.—Earnings.—This company,
remaining $50,000 is held in escrow, to be taken down for not to exceedthe
80% of the which controls
cost of new construction. Compare V. 92, p. 1182.
the gas, electric light and power and steam
San Joaquin Light & Power Corporation.—S02 page 412; heating business of Wilkes-Barre, it is stated, reports for the
Shannon Copper Co.--Called Bonds.—Fifty-nine ($59,000 six months to July 1 1911 total profits after all interest charges
first mtge. 7s drawn by lot will be paid at par and interest of $53,175; the net earnings in the gas depart. increased
Sept. 1 at Boston Safe Deposit & Trust Co.—V. 92, p. 1388. 35% and in the electrical depart. 30%.—V. 91, p. 731.
Wolverine Copper Mining Co.—Report.—Yr. end. June 30
Stone Canyon Consolidated Coal Co., California.—Foreotal
New
Net
closure.—Judge Van Fleet in the Federal Court at San Fran- FiscalT
Dividends on
Balance,
Year— Receipts.
Earnings. Construe.
Stock.
Sur. or Def.
cisco on Aug. 3 signed a decree in favor of the Guaranty 1990
10
9 10
1::$1:
1294
209:19
740
$2,191
7
$487,896
$600,000
dcf.3114,295
Trust Co. of New York, as mortgage trustee, against the
573,805
2,939
600,000
def. 29,134
the year ending June 30 1011 there were produced
lbs.
Stone Canyon Consolidated Coal Co., the Stone Canyon & of During
refined copper, against 9,757,161 lbs. in 1909-10, total9,617,168
cost 7.542c..
against
7,413c.; price per lb. 12.58c., against 13.24e.—V. 91, p. 342.
Pacific RR., the Stone Canyon Coal Co. and the Bankers'
Trust Co. of Oakland.
(John) Wyeth & Bro., Inc., Philadelphia.—Stock.—A
The decree orders the Stone Canyon Consolidated Coal Co. to pay to
the certificate was filed on or about Aug. 2 increasing the capital
Stone Canyon Coal Co. $1,502,544, with Interest at
6% from April 15 1011, stock from $2,500,000 to $4,000,000. See V. 92,
compounded semi-annually, together with
P. 1315.
and 1% of $1,502,544
for counsel fees and costs, in default of which$2,500
Yukon Gold Co.—Operations.—President S. R. Guggenpayment the property is to be
sold at public auction in front of the Monterey
County Court House at heim was recently quoted:
Salinas by F. L. Gadsby on a day to be fixed hereafter.
—V. 88, p. 382.
have not received our detailed costs for any of this season's operations
Texarkana Gas & Electric Co.—New Securities.—This as We
but the gross product to July 8 was $815,000, as against $529,000 for
company, owned by the Dawes interests of Chicago, recently lastyet,
year up to the same date. These figures encouraged
us to believe that
increased its capital stock and filed a $3,000,000 mortgage in. the net profit for this year will show a substantial advance
over the preseasons.
favor of the Central Trust Co. of Illinois, as trustee. Com- ceding
Our illustrated booklet describing the equipment, Sec., has brought
out a
surprising
number of letters expressing approval and astonishment at the
pare V. 91, p. 721.
magnitude of the operations. Compare V. 92. p. 723.
Toronto (Can.) Electric Light Cos.—New Directors—
Officers.—As the result of the recent sale of control, the fol—The 1911 edition of the "Electric Railway Manual" has
lowing changes tire announced:
just been issued by the McGraw Publishing Cov•of New
Sir Henry Pellatt continues as President, but D. B. Hanna, 3d
Vice-Pres. York. Accordin
of the Canadian Northern, succeeds W. D. Matthews
g to the total returns, the 1,279 coinpanies
as Vice-Pres. of the
company. H. H. Macrae retires from the general managershi
included operated in 1910 40,088 miles of track and 89,601
comes 2d Vice-Pres., this office having been created for him. p, but becars, and had a total capitalization outstanding of $4,682,New directors: Sir William Mackenzie, Robert J. Fleming,
Manager of
the Toronto St. Ry.; D. B. Hanna, Z. A. Lash, General Counsel
of the 106,217. The total miles of track reported in 1909 was
Canadian Northern; E. R. Wood, H. H. Macrae, R.
Brown
C.
and
G.
A.
40,490,
the elimination of duplications in the reports of
Morrow, to succeed W. D. Matthews, H. P. Dwight, W.
Brock,,Thomas
Walmsley, L. Goldman, Samuel Trees and Hugh Blair,P..
S. F. McKinnon allied corporations making an apparent decrease. The gross
died about a week ago.
revenue
for 620 ,cos, amounted in 1910 to $478,873,671.
Old directors re-elected: Sir Henry Pellatt, Senator Cox and
Frederick.
Nicholls.—V. 93, p. 168.
—Attention is called to the advertisement on another page
Union Switch & Signal Co., Swissvale, Pa.—Stock Offered of the bond department of
Union Trust Co. of Chicago,'
to Employees.—The company having set aside $100,000 of its in which they are offeringTheselected
list of Government,
a
common stock (par $50) to be sold to employees,
municipal, corporation and railroad bonds yielding from
of the same is now offered to employees not general $50,000
officers about 3 to 6%. Special circular on request.
at $75 per share.
—Herzog & Glazer are dealing in the following California
Payment Is to be mode in Installments covering a maximum
months. As soon as 24% of the purchase prices has been paid, period of 50 securities: Pacific Gas & Electric; coin. & pref. Western
all dividends
accruing on the stock are to be credited to the purchaser's
Pacific stock; also 1st M. 5% bonds of the Great Western
the subscription price has been fully paid, if the employee account. After
continues in the Power and Northern Electric of California.
415
THE CHRONICLE
AUG.. 12 1911.]
•
.1-11,0nit ItCrC.1 i
COMMERCIAL EPITOME.
Friday Night, Aug. 111911.
While conservatism is apparent everywhere, moderate
improvement is noted in some of the metal trades,although
it is true that the unrest of labor at the West, domestic political agitation and unsettled conditions abroad, together with
the spotted conditions of the cereal crops, have resulted in
much irregularity and some hesitation in trade conditions.
Yet the cotton crop is of record promise, Southern merchants
have recently placed orders more freely and ;general sentiment regarding fall trade appears more optimistic.
LARD has continued steady; prime Western here 9.30c.,
/
4c., South
City 83/9 to 8%c., refined for the Continent 91
America 10.25c., Brazil in kegs 11.25c. Futures have at
times risen slightly on investment demand and buying by
packers on the firmness of hog prices, but liquidation has
latterly caused a decline.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Fri.
7'hurs.
Sat.
Mon.
Tues.
Wed.
9.00
9.05
9.05
9.20
9.00
9.11
September delivery
8.65
8.75
8.65
8.87
8.84
8.75
January delivery
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Fri.
Sat.
Wed. Thurs.
Mon.
Tues.
8.85
8.95
9.15
9.02 3;1 8.95
9.05
September delivery
8.60
8.70
8.67 3j 8.80
8.7734 8.75
January delivery
COTTON.
Friday Night, Aug. 111911.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
20,305 bales, against 7,567 bales last week and 7,990
bales the previous week, making the total receipts since
Sept. 1 1910 8,429,189 bales, against 7,264,956 bales
for the same period of 1909-10, showing an increase since
Sept. 1 1910 of 1,164,233 bales.
Receipts at-
Sat.
Galveston
880
Port Arthur..
Texas City, 6cc_ _
New Orleans__ _ _12
Gulfport
Mobile
1
Pensacola
Jacksonville, 6:c.
39
Savannah
95
Brunswick
__
Charleston ._
Georgetown
Wilmington
Norfolk _
N'port News, Ste
New York
Boston
Baltimore
Philadelphia.. _ _ _
Mon.
Tues.
Thurs.
Wed.
2,850
3,788
5,226
1,829
557
85
357
25
Total.
Fri.
2,964 17,537
756
76
1.792
136
135
41
70
66
39
354
2
21
268
157
268
1
6
13
24
133
5.613
3.927
2.0N"
'90;105
4.^-
PORK has been firm and higher; mess here $19 25@$19 50, Totals this week_ 1,027 3,625
The following shows the •week's total receipts, the total
clears $16 50@$17 50 and family $19@$1950. Cut meats
have been in fair demand and firm. Pickled hams 143'@ since Sept. 1 1910, and the stocks to-night, compared with
14 8c., pickled bellies, clear, 13@14c. and pickled ribs nomi- last year:
2c. Beef steady with a moderate inquiry;
nally 12®123/
Stock.
1909-10.
1910-11.
mess $10 50 to $11, packet $12 to $12 50, family $12 50 to
Receipts to
$13 and extra India mess $18 50 to $19. Tallow steady at
August 11.
This Since Sep This Since Sep
1910.
Week. 1 1910.
1911.
Week. 1 1909.
6c. for City. Stearines quoted at 73
4 to 8c. for oleo and
1034 to 11c. for New York lard. Butter rather firmer, but Galveston
7,351
17,537 2,764,570
8,862
5,812 2,478,347
trading in high process grades has been restricted, with Port Arthur
206,943
142,331
City,
&c_
_
360,794
Texas
72.100
buyers holding off. Creamery extras 26c., firsts 233/9 to New Orleans _ _ _ _ 1.702 1,535,750 1,267 1,306,160 29,291 30,825
243/9c. Cheese firmly held on better grades; State, whole Gulfport
34,211
8,892
28
375
Mobile
136 249.917
316 254,483
milk, colored, fancy, 113
4 to 123c. Eggs, Western firsts, Pensacola
123.906
138,104
173/9 to 1834c.
26,077
39
39,680
acksonville, &c_
1,626 1,353,353
354 1,426,473
6,793
9,532
OIL.-Doinestic linseed has declined, owing to lessened Savannah
222,736
229,426
651
2,478
Brunswick _ _
_
demand from consumers in view of the near-by marketing Charleston
1,260 225.382
285,098
3,472
690
1,454
1,576
of the new crop, of which favorable reports have been Georgetown _ _ _ _
-100
312,611
410.780
156
168
Wilmington _ _ _ _
received. Harvesting in the Northwest is progressing Norfolk
1,369
713 542,902
1,436
21 559,220
13,789
3,924
-favorably. City, raw, American seed, 85 to 86c.; boiled, Newp't News, dce.
54
79,599 181,630
14,483
41,927
New -York
86 to 87c.; Calcutta, raw, 95c. to $1. Cottonseed dull pend- Boston
5,591
2,204
38,886
117
14,413
137
1,156
81,349
1,408
36
268 113,434
ing crop developments; winter 5.65 to 6.13c., summer white Baltimore
911
1,654
515
2,581
Philadelphia
5.55 to 6.13c.; crude nominal. Cocoanut strong with stocks
lc. Corn quiet and steady at
20,305 8,429,189 11.301 7,264.956 140,965 _237,365
small. Cochin and Ceylon 9Y
Total
Note.-5,622 bales added as correction of receipts at New Orleans since
6.10 to 6.15c. Lard has been very steady; prime 70 to 75c.
No. 1 extra 56 to 64c. Cod, steady with prices nominal, Sept. 1.
In order that comparison may be made with other years,
owing to light supplies. Newfoundland 57 to 58c. and
give below the totals at leading ports for six seasons:
55 to 57c. for domestic.
COFFEE on the spot has been more active and steady;"
1907.
1906 11 ;'
1908.
roasting interests have recently Made large purchases. Rio Receipts at- 1911. !191D, i1909.
No. 7, 133o. to 133
%c. and No. 4 Santos 13% to 14e. Galveston ___ 17,537
3,844
16,863
17,983
2,065
5,812
48
Futures have reflected switching operations, with distant Pt.Arthur,&c.
1,976
946
1,849
1,267
3,120
1,792
New Orleans..
positions relatively higher. Short covering has advanced Mobile
459
1,124
364
316
1,964
136
7,272
1,661
1,626
1,205
3,i4
821
prices slightly. Closing prices were as follows:
Savannah
11.77011.80
August
September_ _11.80011.81
11.50011.53
October
November ___11.30011.32
December _11.23011.24
January ____11.20011.22
11.17011.19
February
March
11.15011.16
April
May
June
July
11.12011.14
11.10011.11
11.09011.10
11.09011.10
SUGAR.-Raw has been strong and higher with buyers
holding, off but sellers are firm in their views. London has
been firm. Centrifugal, 96-degrees test, 4.873/9c.; muscovado, 89-degrees test, 4.373/9c.; molasses, 89-degrees test,
4.123/9c. Refined, granulated, 5.75c. Teas moderately
active and firm with holders asking higher prices. Formosas
and Congous have been looming up and in primary markets
low grades are scarce. Spices firm with a moderate jobbing
inquiry.
PETROLEUM has been quiet; the foreign demand while
somewhat lessened is still of fair volume. Domestic inquiry
continues light. Refined barrels, 7.25c.; bulk, 3.75c., and
4c.; drums,
cases 8.75c. Gasoline, in 100-gallon drums, 183
$8 50 extra. Naphtha,73 to 76-degrees, in 100-gallon drums,
163
4c.; drums $8 50 extra. Spirits of turpentine 53
Rosin $5 70 for strained, common to good. Hops strong on
light offerings and continued drought in England.
TOBACCO.-Trade in tobacco has continued slow, but as
manufacturers request prompt shipments on such orders as
they place,,it is believed that their supplies are light. As to.
the growing,crop, there have been complaints of drought in
some septions, but on the other hand glowing crop accounts
have been received fronf New England growers.
COPPER has been steady, with the visible supply showing
/
8c. to 12Yic., electrolytic 12
a heavy decrease. Lake 125
to 12%c., standard 123.o. Tin firmer; foreign markets have
latterly advanced; spot and August here 42e. Spelter
5.95c. Lead steady at 4.60c. Pig iron has been in improved demand, with sonic prospects of still further betterment. Some holders are asking higher prices, although on
large orders competition is evident. No. 1 Northern $15 to
$15 25, No. 2 Southern $14 25 to $14 75. Steel products
have shown a hardening tendency as to prices, with fabricated material in better demand. There are indications of
still greater activity in the fall, as railroads have been more
inclined to purchase for requirements and the U. S. Steel Co.
has increased its ingot output to 80% of capacity.
Brunswick _
Charleston,&c
Wilmington
Norfolk
N'port N., &c
All others_ _ _ _
464
207
611
717
209
1,321
47
2,055
367
868
Total thiS wk_
20,305
11,301
11,051
42,039
8,763
31,276
21
1,260
100
713
12
20
2,483
119
2
1,800
295
111
573
Since Sept. 1__8,429,189 7,264,956 9,807,432 8,266,041 9,689,351 7,784,468
The exports for the week ending this evening reach a total
of 13,723 bales, of which 3,279 were to Great Britain,
413 to France and 10,031 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910:
Week ending Aug. 11 1911. From Sept. 1 1910 to Aug. 111911.
Exported toExported toExports
front-
ContiGreat
Britain. Frnce. neat. Total.
-------Galveston
Port Arthur_ __1
Texas City, &c.
100 2,440
398
New Orleans_ _; 1,942
Mobile
Pensacola
I
Gulfport
250
250
•
Savannah
Brunswick_
•
Charleston_
Wilmington_
Norfolk
Newport News
15 9,681 11,033
New York____ 1,337
Boston
Baltimore ____
Philadelphia
Portland, Me_
San Francisco_ • _
Svattle
Tacoma
Portland, Ore_
Pembina
Detroit
•
Total
Total 1909-10_
ContiGreat
Britain. France. nent. I Total.
952,667300,933 1,083,750 2,337,350
44,898 54,963 107,076 206,943
33,424 303,173
212,816 56,933
886,701144,829 466,408 1,497,938
73,388 184,857
68,715 42,754
37,103 124,006
56,308 30.595
8,602, 34,211
6,271 19,338
324,488114,600 464,137 903,225
78,325 182,458
104,133
18,832 9,900 97,351 126,083
137,871 32,015 213,226 383,112
10 801,
5,.130
15,931
301,118 93.307 325,796 720,221
101,110
8,768 109,878
22,364 8,530
82,094 112,988
67,187
51,0731
16,114
669
699
84,555
84,555
•• 45,007 .45,007
1 1,876
11,876
500
500
2,627i
2,627
413 10,031 13,7233,304,462908,7033,242,6307,454,795
-----8,18314,115 20,768 43,0662,377,280927,8902.758.1426,063,012
3,279
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
'1
416
THE CHRONICLE
On Shipboard, Not Cleared for-
Great
GerOther CoastAug. 11 at- Britain. France many. Foreign wise.
New Orleans__
Galveston _
Savannah _ _ _ _
Charleston ___
Mobile
Norfolk
New York_ __ _
Other ports__ _
854
239
800
1,207
8,083
150
92
1,503
8,414
4,5141
700
21,
700'
1,780:
300,
21
400
280
-565
800
300
Total 1911....
Total 1910_ _
Total 1909_ _
1,275
3,252
6,601
1,487
1,700
6,077
1,639
2,200
2,922
9,033
4,309
5,489
I Leaving
Total.
Stock.
Speculation in cotton for future delivery has been active
with rather erratic fluctuations since the re-entry of prominent interests which for some years past have been absent
from the cotton market. Trading has become broader. The
net result of the week has been a decline of 48 points on
August, 22 points on September and 10 to 16 points on later
months. Latterly the temperatures in the Southwest and in
the South Central belt have risen, and many complaints of
hot, dry and unfavorable weather have been received from
Texas, Oklahoma, Arkansas, Louisiana and some other
States in the American cotton-producing region. Insect
depredation is said to be increasing in Texas and Alabama,
and in the Gulf section recent precipitation is said to have
become excessive. Weedy conditions have been complained
of in Georgia, and in Arkansas there has been some damage
by rust, boll-weevils and :worms. At Chicago the dry goods
trade is said to have latterly improved, with Southwestern
and Western merchants purchasing to replenish depleted
stocks. The boll-weevil, it is claimed, hasappeared in the
Punjab of India, causing material damage. Large spot
houses and metal interests have bought the new-crop months.
Thp local certificated stock has steadily decreased. On the
other hand, receipts of new cotton are heavy and the bulk
of the crop and weather advices is distinctly favorable. One
prominent authority states that 95% of the cotton crop is in
excellent condition. The South has steadily sold futures,
and additional drastic curtailment of production is predicted,
both in New England and the South,as well as in Manchester.
New cotton is moving in Oklahoma and Georgia and, significantly enough, large interests who are believed to be
heavily committed to the long side of August have at times
sold that month,apparently with the idea of keeping it well
below a Southern shipping parity. Glowing crop accounts
have been received from Texas, Georgia, South Carolina and
Alabama and other States. By many it is claimed that the
ordinary August deterioration has by no means as yet
occurred or given indications that it is about to occur, and
as to the recent high temperatures, it is claimed that they
are destructive of the boll-weevil pest and that protracted
hot, dry weather is unusual In the cotton belt after Aug. 10;
in fact, recent private forecasts have been for showers and
lower temperatures. There have been estimates of the Texas
crop of as high as 5,000,000 bales. Large bull interests have
at times supported the market and advanced prices,only to be
discouraged by persistent Southern selling and lack of outside
demand, with the result that long liquidation and lower
prices have been seen from time to time. Spot cotton has
declined to 12.40c., a loss of 35 points for the week.
The rates on and off middling, as established Nov. 16 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair
c 1.50 on
Strict mid. fair____1.30 on
Middling fair
1.10 on
Strict good mid _ .....0.66 on
Good middling...A.44 on
Strict middling......0.22 on
Middling
Basis
c
Strict low mid__0.25 off
Low middling____0.75 off
Strict good ord____1.20 off
Good ordinary____2.00 off
Strict g'd mid. tgd.0.35 on
Good mid. tinged.° Even
Strict mid. tinged..0.15 off
Middling tinged.._0.25 off
Strict low mid. ting.0.75 off
Low mid. tinged._1.75 off
Middling stained..1.00 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Aug. 5 to Aug. 11Middling uplands
Sat.
12.75
Mon. Tues.
12.75 12.30
Wed. Thurs. Fri.
12.40 12.40 12.40
NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations on middling upland at New York on
Aug. 11 for each of the past 32 years have been as follows:
1911_c
1910
1909
1908
1907
1906
1905
1904
12.40
15.70
12.60
10.55
13.40
10.60
10.75
10.03
1903_c
1902
1901
1900
1899
1898
1897
1896
12.75
9.00
8.00
10.12
6.50
6.06
8.00
8.06
1895_c
1894
1893
1892
1891
1890
1889
1888
7.19
6.94
7.69
7.25
8.12
12.25
11.31
11.31
1887_c
1886
1885
1884
1883
1882
1881
1880
9.75
9.50
10.50
10.81
10.25
13.00
12.00
11.56
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
Saturday_ ._
Monday..___
Tuesday _
Wednesday_
Thursday __
Friday _ _ _
Spot Market
Closed.
Futures
Market
Closed.
Quiet
Quiet
Quiet, 45 pts. deo_ _
Quiet, 10 pts. adv _
Quiet
Quiet
Feverish
Barely steady_ _
Easy
Very steady _- Easy
Easy
Total_
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
SALES.
Spot. Contr'ct Total.
001
II 21
,gl Z I IT II
"
@I @I.
@I @I
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7..1 ! I I
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CS
20,877
4,348
9,532
3,472
354
669
77,819
8,165
2,295 15,729. 125,236
2.709 14,230 223,135
8,032 29.121' 176.850
[Vora. Lxxxxm.
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----THE VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows. . Foreign
stocks, as well as the afloat, are this week's returns, and
consequently all foreign figures are brought down to Thursday evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
August 11-1911.
Stock at Liverpool
tittles. 501,000
Stock at London
12,000
Stock at Manchester
48,000
1910.
300,000
8,000
32,000
1909.
911,000
9,000
60,000
1908.
421,000
15,000
51,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
430,000
12,000
84,000
86,000
2,000
14,000
19,000
7,000
980,000
9,000
179,000
185,000
3,000
25,000
22,000
5,000
487,000
24,000
212,000
91,000
4,000
30,000
20,000
18,000
168,000
224,000
428,000
399,000
729,000
88,000
41,569
34,000
65,000
463,000
140,965
95,788
50
654,000 1,408,000
68,000
77,000
64,587
71,142
17,000
26,000
44,000
63,000
509,000 239,000
237,365 205,701
55,910
84,535
3,131
2,475
886,000
63,000
83,503
20,000
70,000
436,000
185,343
119,189
261
Total Continental stocks
Total European stocks
India cotton afloat for Europe_ _ _
Amer. cotton afloat for Europe
Egypt,Brazil,&c.afit.for Europe
Stock in Alexandria, Egypt
Stock in Bombay, India
Stock in U. S. ports
Stock In U. S. Interior towns_ _
U. S. exports to-day
561,000
14,000
31,000
81,000
2,000
17,000
16,000
7,000
Total visible supply
1,657,372 1,661,993 2,167,853 1,803,296
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales. 329,000 294,000 818,000
310,000
Manchester stock
25,000
35,000
45,000
40,000
Continental stock
16f43:p10 39
122,000
70
1:0
14
02
0 38
18
3:0
500
3
American afloat for Europe
U. S. port stocks
205,701
40
0
9
5
5
1:1
185,343
585
19
68
236
57
42
U. S. interior stocks
84,535
119,189
3,131
U. S. exports t-oday
2,475
261
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
761,372
847,993 1,616,853 1,056,296
172,000
12,000
13,000
46,000
88,000
34,000
65,000
483,000
96,000
8,000
7,000
56,000
77,000
17,000
44,000
509,000
893,000
764,372
814,000
551,000 807,000
847,993 1,616,853 1,056,296
93,000
9,000
15,000
38,000
06,000
26,000
63,000
239,000
111,000
15,000
11,000
81,000
63,000
20,000
70,000
436,000
Total visible supply
1,657,372 1,661,993 2,167,853 1,863,296
Middling Upland, Liverpool
6.77d.
8.31d.
6.72d.
592d.
Middling Upland. New York_ _ _ _ 12.400.
15.70c.
12.80c.
10.60c.
Egypt, Good Brown, Liverpool
10'.4d.
13 Yid. 9 1346d.
8 yid.
Peruvian, Rough Good, Liverpool 10.60d.
11.00d.
8.35d.
9.00d.
Broach, Fine, Liverpool
, 6 7-16d.
731d.
03id. 5 546d.
TInnevelly, Good, Liverpool
6%d. 7 3-16d. 5 15-16d.
5d.
Continental imports for the past week have been 46,000
--iii--io
bales.
-iiio
-i(36
The above figures for 1911 show a decrease from last week
of 107,167 bales, a loss of 4,621 bales from 1910, a decrease of 510,481 bales from 1909, and a loss of 205,924
249
219
bales from 1908.
-that is,
AT THE INTERIOR TOWNS the movementshipments
the
1,
Sept.
since
and
week
the
for
the receipts
same itpms
for the week and the stocks to-night, and the year-is set
previous
the
for
period
nding
correspo
for the
out in detail below.
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August 11.
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Mobile
Savannah
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Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock
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Receipts.
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......004.
Movement to August 12 1910.
.4
Cr,
W.
Week. I Season.
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N.
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Ship- 1Stocks
ments Aug.
11.
Week.
IN
N
N
Co
a
'4•
Movement to August 11 1911.
N
.0
,....,..1e0o0,1,,,I0W01
12 5-16
12 Kr
123i
1"
iiK
13
13.00
13 i.,
13
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12%
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13
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13
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12
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12%
12
12
12%
12I2
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12j
i;
13
13
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13
13
12%
1231
12.65
13
13
12%
1,2 3-16
13
12.55
13
13
13
12%
,
12.65
12%
'
13
12%
123-16
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Aug. 5. Aug. 7. Aug. 8. Aug. 9. Aug. 10. Aug. 11
a
Co
00
Closing Quotations for Middling Cotton onSarday. Monday. Tuesday. Wed.day. Thurscry. Friday.
ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
t-1 M
NI
0
417
THE CHRONICLE
AUG. 12 Dal.1
AugustRange
Closing
Sept.
Range
Closing
Oct.
,
Range
Closing
Nov.
Range
Closing
Dec.
Range
Closing
Jan.
Range
Closing
Feb.Range
Closing
MarchRange
Closing
AprilRange
Closing
Mayflange
Closing
ToneSpot
Options
• Nominal.
11.77-.98 12.10-.25 11.83-.03 11.96-.24 11.98-.16 11.97-.18
11.97-.00 12.11 -11.83-.85 12.23-.24 12.03-.05 11.95-.98
11.09-.34 11.45-.46 11.13 -11.10-.27 11.31-.33 11.12-.13
11.33-.36 11.48-.52 11.13-.14 11.38-.40 11.24-.26 11.13-.14
10.95-.27 11.19-.45 10.96-.25 10.95-.24 11.06-.33 11.00-.21
11.20-.21 11.33-.37 11.01-.02 11.23-.24 11.12-.13 11.01-.02
_ @ -11.26 _ __® _ _ 0 _ _ ® __ ,,z_ _
11-01*
11.12*
11.23*
11.360
11.01*
11.20*
10.95-.28 11.20-.45 10.96-.25 10.93-.24 11.06-.33 11.00-.22
11.20-.21 11.36-.37 11.01-.02 11.23-.24 11.12-.13 11.00-.01
10.97-.28 11.24-.46 10.98-.26 10.95-.27 11.09-.34 11.03-.25
11.23-.24 11.38-.39 11.03-.04 11.26-.27 11.15 -11.03-.04
_ ® _ _ ® _ _ ® _ _ ® _ _ ® _ _ 011.08-.10
11.20*
11.32.
11.08•
11.42*
11.28*
11.07-.40 11.37-.52 11.09-.36 11.08-.40 11.21-.46 11.16-.38
11.33-.34 11.49-.50 11.13-.14 11.39-.40 11.26-.28 11.16-.17
_
_ ® _ _ ® _ _ ® __ ® __
11.20-.22
11.30*
11.44*
11.18*
11.52*
11.37.
.45
- ® -11.55-.57 11.40-.42- ® -11.40 -11.43-.45 11.58-.60 11.23-.25 11.49-.51 11.36-.38 11.26-.28
e __ ®
Quiet.
Quiet.
Quiet.
Quiet. Steady. Easy.
Steady. Steady. Steady. Steady. Steady. Steady.
EUROPEAN COTTON CONSUMPTION TO AUG. 1.By cable to-day we have Mr. Ellison's cotton figures brought
down to Aug. 1. We give also revised totals for last year,
that comparison may be made. The spinners' takings in
actual bales and pounds have been as follows:
Britain.
Continent. I
Total.
Great
October 1 to August 1.
The above totals show that the interior stocks have in39,878
1910-11.
For
to-night
are
8,689,000
creased during the week 458 bales and
5,204,000
3,425,000
bales
Takings by spinners
485.6
475
502
bales more than at the same time last year. The receipts Average weight of bales_ _ _ _lbs.
000
000
4,219,550,
2,500,200,
00
1,719,350,0
same
the
than
_more
Takings in pounds
at all the towns have been 9,515 .bales
For 1909-10.
7,786,000
4,998,000
2,788,000
bales
week last year.
Takings by spinners
475.9
468
490
Average weight of bales_ _ _ _lbs.
OVERLAND MOVEMENT FOR THE WEEK AND Takings
1.366,120,000 2,339,064,000 3,705,184.000
in pounds
the
showing
t
statemen
a
below
give
SINCE SEPT 1.-We
According to the above, the average weight of the delivoverland movement for the week and since Sept. 1, as made
for
results
in Great Britain is 502 lbs. per bale this season, against
eries
The
night.
Friday
reports
ic
up from telegraph
follows:
during the same time last season. The Continental
as
490
lbs.
are
years
two
last
in
the
1
Sept.
the week and since
year, and for
----1909-10---- deliveries average 475 lbs., against 468 lbs. last
-1910-11
Since
average 485.6 lbs. per bale,
Since
deliveries
the
Europe
of
whole
the
August 11Week. Sept. 1.
Week. Sept. 1.
dispatch also gives the
Shipped2,320 455,858 against 475.9 lbs. last season. Our
522.262
1,085
Via St. Louis
184,136 full movement for this year and last year in bales of 500 lbs.
748
348 213,058
Via Cairo
19,915
25,957
Via Rock Island
-;i55 132,912
132,398
136
Via Louisville
1909-10,
Via Cincinnati
Via Virginia points
Via other routes, &c
Total gross overland
Deduct shipmentsOverland to N. V., Boston, &e
Between Interior towns
Inland, &c., from South
110
122
118
79,001
176,397
171,805
1,919 1,321,778
3,248
1,463
48,671
146,791
153,167
8,212 1,141,450
425
86
1,325
167,338
62,462
61,587
1,1N
140,270
66,899
80,694
1,836
291,387
2.666
287,863
5,546
853,587
Total to be deducted
83 1,030,391
Leaving total net overland •
Canada.
• Including movement by rail to
207
1910-11.
October 1 to August 1.
Bales 01 500 lbs. each.
000s omitted.
Spinners' stock Oct. 1
Takings to Aug. 1
Great Conti.
Great ContiBritain nent. Total. Britain nent. Total.
234 1,218 1,452
169
972 1,141
3,438 5,000 8,438 2,732 4,878 7,410
Supply
Consumption, 43 weeks
3,607
3,110
5,972
4,515
9,579
7,625
2,966
2,735
Spinners' stock Aug. 1
497
1,457
1,954
231
5,896 8,862
4,515 7,250
1,381
1,612
Week's Consumption,
000s omitted.
170
105
65
165
105
60
In
October
170
movement In November
105
85
175
105
70
1 The foregoing shows the week's net overland
170
105
65
105
179
74
December
170
105
has been 83 bales, against 5,546 bales for the week last In
65
179
105
74
January
In
overnet
e
170
the
to
date
aggregat
105
65
season
105
179
74
the
for
that
and
year,
In February
170
105
65
105
179
74
nc bales.
In March
170
land exhibits an i rease over a year ago of 176,804
105
65
179
105
74
In
April
170
1909-10
1910 11
105
65
179
105
74
Since In May
170
Since
105
65
179
74
105
In Sight and Spinners'
In
June
Sept. 1.
160
Week.
Sept. 1.
Week.
105
55
179
105
:Takings.
74
11,301 7,264,956 In July
8,429,189
Receipts at Orts to Aug. 11_ _ _ _ 20,305
853,587
83 1,030,391
5,546
Net overiaMI to Aug. 11
28,000 2,322,000
Southern consumption to Aug. 11 33,000 2,306,000
COTTON CROP CIRCULAR.-Our Annual Cotton Crop
44,847 10,440,543 Review will be ready in circular form about Wednesday,
53,388 11,735,580
Total marketed
x27,253
458
*8,377
45,010
with
Interior stocks in excess
Sept. 6. Parties desiring the circular in quantities, their
53,846
thereon, should send in
36,470
printed
card
business
Canoe Into sight during week
their
10,413,200
11.810,590
Total in sight Aug. 11
_
orders as soon as possible, to secure early delivery.
2,138,272
North.spinners' takings to Aug.11 15,722 2,150,051
WEATHER REPORTS BY TELEGRAPH.-Our telegraphic reports from the South this evening indicate that
Movement into sight in previous years:
the weather has been favorable as a rule during the week.
Bales.
Since Sept. 1Bales.
WeekPicking is quite general in Southern Texas and is commencing
13,583,811
13
1908-09-Aug
55,314
1909-Aug. 13
11,366,113 in many other sections of the cotton belt.
55,732 1907-08-Aug 15
1908-Aug 15
13,396,434
52,266 1906-07-Aug 16
1907-Aug. 16
Galveston, Tex.-The general condition in Texas is fine.
11.059,760
76,892 1905-06-Aug 17
1906-Aug. 17
hot and dry weather continues the damage from weevil and
If
QUOTATIONS FOR MIDDLING COTTON AT OTHER cut worm will be greatly diminished. There has been no
MARKETS.-Below are the closing quotations of middling rain during the week. The thermometer has averaged 85,
cotton at Southern and other principal cotton markets for the highest being 92 and the lowest 78. July rainfall 4.62 in.
each day of the week.
• Decrease during week. z Less than Sept. 1.
418
THE CHRONICLE
[VoL.
Brenham, Tex.-We have had rain on one day
Charlotte, N. C.-Rain has fallen on two days
week, to the extent of five hundredths of an inch. during the
of the week,
mometer has averaged 87, ranging from 74 to The ther- the rainfall being thirteen hundredths of an inch. The ther100.
July
mometer has ranged from 68 to 97, averag
rainfall 4.31 inches.
ing 82.
Greensboro, N. C.-We
Cuero, Tex.-We have had no rain during the
week. The the week, the rainfall beinghave had rain on two days during
thermometer has ranged from 73 to 104, averag
sixty-n
ine
hundredths of an inch.
ing 89. July Average thermometer 80,
rainfall 2.84 inches.
highest 95, lowest 66.
Dallas, Tex.-Dry all the Week. Averag
WORL
D'S
SUPP
LY
AND TAKINGS OF COTTON.
thermometer
89, highest 107 and lowest 71. July rainfalle6.32
inches.
Cotton Takings.
1910-11.
Huntsville, Tex.-We have had no rain
1909-10.
Week and Season.
during the week.
The thermometer has averaged 88, ranging from
Week.
Season.
Week.
Season.
75 to 100.
Kerrville, Tex.-We have had no rain during
Visible supply Aug. 4
1,764,539
the week. Visible
1,796,676
supply Sept. I
The thermometer has ranged from 66 to 100.
1,495,31
4
averaging 83.
American in sight to Aug. 11_ _
f,Y3-1,6H
53,846 11,810,590
40,470 10,430,290
Bombay receipts to Aug. 10___
Lampasas, Tex.-Dry all the week. Averag
5,000 2,473,000
e thermome- Other India
6,000 3,154,000
shipin'ts to Aug. 10
ter 86, highest 104 and lowest 68.
9,000
478,300
39,000
Alexandria receipts to Aug. 9
529,000
1,010,900
Longview, Tex.-We have had no
654,600
7,000
during the week. Other supply to Aug.9•
344,000
6,000
282,000
The thermometer has averaged 90, therain
highest being 105 and
Total supply
1,839,385 17,614,304 1,888,140 16,080,9
the lowest 74.
Deduct12
Visible supply Aug. 11
Luling, Tex.-There has been no rain during the week.
1,657,372 1,657,372 1,661,993 1,661,99
3
The
thermometer has averaged 88, ranging from 74 to 102.
Total takings to Aug. 11
182,013 15,956,032 226,153 15,318,919
Of which American
Nacogdoches, Tex.-Dry all the week. The thermometer
139,013
11,840,732 140,153 11,0313,319
Of which other
43,000 4,116,200
86,000 4,282,600
has ranged from 71 to 97, averaging 84.
• Embraces receipts In Europe from
Brazil. Smyrna, West Indies, &c.
Paris, Tex.-There has been light rain on one day of the
INDIA COTTON MOVEMENT FROM
ALL PORTS.
week. The thermometer has averaged 88, the highes
t being 105 and the lowest 71.
August 10.
1910-11.
1909-10.
1908-09.
San Antonio, Tex.-We have had no rain during the
Receipts atSince
Since
The thermometer has averaged 88, ranging from 74 to week.
p
itz.cel.
Week.
Sept.
1. Week. Sept. 1, Wcek.1 S'S
e
Weatherford, Tex.-Dry all the week. The thermo102.
meter Bombay
_5,000 2,475i000 _6,000.3,154,900 ...3
has ranged from 74 to 105, averaging 90.
,000'2!096,000
Ardmore, Okla.-Rain has fallen on one day of the week;
For the Week.
Since
Septembe
the rainfall being thirty-two hundredths of an inch. Average
r 1.
Exports
fromGreat Conti- Janani
thermometer 88, highest 109, lowest 67.
Great I Conti- ! Japan 1
Britain. neat. &China; Total. Britain.
Marlow, Okla.-The week's rainfall has been twenty-one
-------------- I neat. & China. Total.
---1
1-----1
hundredths of an inch, on one day. The thermometer has Bombay
1910-11_
1,000___
57,000 910,000 616,000 1,583,000
averaged 85, the highest being 104 and the lowest 66.
1909-10__
3,000 7,000
10:0
00 95,000 978,000 901,000 1,974,00
1908-09_ 1,66E0 5,000 5,000
Tulsa, Okla.-It has rained on one day during the week, Calcutta
11,000 25,000, 585,000 672,0001,282,0000
1
1
1910-11_
the precipitation reaching twenty-one hundredths of an inch.
1,000
_ 1,000,
3,000 40,000
19,000, 62,000
1909-10._
3,00
2,0011 5,0001
The thermometer has averaged 66, ranging from 67 to 104.
5,000 53,000 50,000, 108,000
1908-09._
6,000 45,000 31,000 82,000
New Orleans, La.-Rain has fallen on one day of the week, MadrasI
1
1910-11__ 1,000
the rainfall being five hundredths of an inch. Average ther1.000 13,000 25,000
1909-10._
300, 38,300
0;666 6,40 12,000
4,000 28,000
mometer 85, highest 97, lowest 74.
7,000, 39,000
1908-09_ _ • _
5,000 1,000 6,000
5,000 47,000 14,000 66,000
All othersShreveport, La.-It has been dry all the week. The
1
1
1910-11._ 2,000 5,000
7,000 71,000 284,000 23,0001 378,000
mometer has averaged 87, the highest being 102 andther1909-10__ 4,000 3,000 15,
0 00 22,000
the
1908-09__
____ 81,000 1,000 9,000 36,000 316,000 30,000, 382,000
lowest 73.
28,000 295,000 84,000, 407,000
Vicksburg, Miss.-Dry all the week. The thermometer Total all1
I
1910-11_ 3,000 7 000
has ranged from 73 to 98, averaging 84.
10,000
144,0001,259,000 658,3002,061,300
1909-10__ 4,000 15,000
Yazoo City, Miss.-We have had no rain during the week.
49,000, 140,0001,375,000 988,0002,503,000
1908-09._ 1.000 18,000 30,000
7,000
26,000'
64,000.
972,000
801,000 1,837.000
Average thermometer 84, highest 98, lowest 69.
ALEXANDRIA RECEIPTS AND SHIPM
Helena, Ark.-Cotton is growing too rapidly and not fruitENTS.' • •
ing we).1. There are also complaints of rust and blight.
Alexandria, Rgypt.
There has been rain on one day the past week, the rainfal
August 9.
1910.-11„,;
1909-10.
1908200.
reaching one inch and six hundredths. The thermometerl Ilecetnts (ea ntars)has averaged 82.6, ranging from 71 to 95.
This week
500
, 500
,Little Rock, Ark.-It has been dry all the week. The ther- ZSInce Sept. 1
7;579,243
6,675429
- ..
mometer has ranged from 72 to 102, averaging 87.
'
This Since
Chattanooga, Tenn:-The week's rainfall has been seventy- Exports (bales)This Since
This''8ince
Week. Sept. 1. Week. Sept. 1. Week. Sept.
two hundredths of an inch, on two days. The thermometer
1.
-- -To Liverpool
has averaged 79, the highest being 92 and the lowest 65.
213,791
____ 156,736 2,250 195,933
To Manchester
2.000
219,058
119,2
____
86__, 218,444
Memphis, Tenn.-Prospects continue good. It has rained
To Continent ..
3,250 410,070 5,000 309,889 5.
- 730 368,185
To America
on three days during the week, the precipitation reaching
123,728
____ 62,534 2,000 91,550
seventy-six hundredths of an inch. The thermometer
Total
exports
5.250 966.656 5.000 648.445 10,000 874,712
has
averaged 76, ranging from 67 to 96.
MANCHESTER MARKET.-Our report received by
Nashville, Tenn.-We have had rain on two days during
cable
to-night from Manchester states that the market
the week, the precipitation reaching one inch and thirty
is steady
for
-two
yarns
and
quiet
for
shirtin
Spinne
gs.
rs are considered to
hundredths. The thermometer has ranged from 66 to
94, hold small stocks of cotton. We give the prices
averaging 80.
for to-day
below and leave those for previous weeks of
this and last
Montgomery, Ala.-Very hot last three days. There
year for comparison.
are
few reports of caterpillars and crops are generally good.
week's rainfall has been twenty-four hundredths of an The
1911.
inch,
irno.
on one day. Average thermometer 83, highest 96,lowest
8% lbs. Shirt- Cot'n
Mobile, Ala.-The crop reports are generally favora 70.
83-i lbs. Shirt- Cot'n
32s
Cop
Vies, common Mid.
32s Cop
ings, common Mid.
Twist.
Cotton picking has commenced in some sections. There ble.
to finest.
Upl's
2'teist.
to finest.
Upl's
has
been rain on four days durin& the week, the rainfal
d. s. d.
l being rne d.
s. d. d. d.
d. s. d.
s. d. d.
seventy hundredths of an inch. The thermometer
has 33 10%
•
11U 6 0%011 4
averaged 84, the highest being 96 and the lowest
8.21 10 9-16011 5 16 5 05(410 5
8.05
30 10%
11% 6 13,5011 3
72.
8.04 10% @ 115 5 5%010 4
7.86
Selma, Ala.-We have had rain on two days during
July
6 0%011 3
week, to the extent of eight hundredths of an inch. the 147 IOU 68 ill4
7,87 10% 0 11 5 5 0.10 4
7,92
68 1154 6 0 @II 1% 7.76 105( 0
11 5 5 010 434 7.94
thermometer has averaged 82, ranging from 70 to 95. The 21 1014
1054
lls<, 5 11 011 0
7.39 10% 0 11% 5 5%010 6
7.97
28
9%
5
9 ow 8
1034
Madison, Fla.-Rain has fallen on three days during
6.90,10% 0 113,1 5 6 010 7
8.16
Aug.
I
week, the rainfall being three inches and eighty-four the
4 95-16 0 103-4 5 7344310 6
hun6.95 10% 0
,
115'
,
.
i
i
g
11
30,
9%
10% 5 8 .
g13',71 m 3T,
"dredths. The, thermometer has ranged from 67
10 734 6.77 10U ,.
to 96,
averaging 82.
SHIPPING NEWS.-As shown on previo
a
nc
page, the
Atlanta, Ga.-We have had rain on one day during
the exports of cotton from the United States the pasti,week have
week, the iprecipitation being three hundredths of
reache
13,723
d
bales.
The shipments in detail; i as made
The thermometer has averaged 82, the highest beingan96inch. up from mail and telegra
phic returns, are as follows:
and
the lowest 69.
Total bales.
NEW YORIC-To Liverpool-Aug. 4-Celti 1,137
Augusta, Ga.-We have had rain on two days during
c,
1,137
Hull
-Aug.
To
5-Gailleo, 200
week, to the extent of nine hundredths of an inch. the
200
To Havre-Aug. 5-Caroline, 15 Sea Island
15
To Bremen-AUg.4-Berlin, 7,008 _ _ _Aug.
thermometer has averaged 82, ran4ing from 70 to 94. The
--13arbarossa,2,142 9,150
To Barcelona-Aug.5-.Manuel Calvo, 81J.9_Aug.
8
Savannah, Ga.-We have had rain on five days during
-Madonna,
'
450_
.
week, the rainfall being seventy-six hundredths of an the NEW ORLEANS-To Liverpool-Aug.8-Wayfa
rer, 1,891_ _ _Aug. 331
II-Wm. Cliff, 50 __ _
inch.
____________________
The thermometer has ranged from 71 to 92, averaging
1,941
To London-Aug. 9-Armenlan. i
80.
____ ______ ,1
To Havre-Aug. 9-Texas
Charleston, S. C.-This week's rainfall has been
398
To Hamburg-Aug. 9-11oer398
and sixteen hundredths, on four days. Average one inch
de,
50
Antwerp
To
-Aug.
8
therm
om- SAVANNAH-To
-Homer, 50
, 50
eter 82, highest 89 and lowest 74.
Gothenburg-Aug. o--Strathtay, 100
100
To Malmo-Aug. 5--Strathtay. 100
•Florence, S. C.-We have had rain on two daysof the
100
To Christlana-Aug. 5-Strathtay,
50
past *week, the rainfall reaching three inches and
50
forty-five
Total
hundredths. The thermometer has averaged 83,
13,723
the highest
LIVERPOOL.-By cable from Liverpool
being 97 and the lowest 68.
lowing statement of the week's sales, stocks, we have the fol&c., at that port:
.4^^
AUG.
12
191t.]
THE CHRONICLE
Aug. 11.
Aug. 4.
July 28.
July 21.
26,000
35,000
41,000
• bales_ 45,000
Sales of the week
1,000
1,000
2,000
Of which speculators took__ 1,000
1,000
3,000
2,000
Of which exporters took..___ 2,000
21,000
27.000
35,000
42,000
Sales, American
6,000
6,000
7,000
9,000
Actual export
36,000
49,000
46,000
52,000
Forwarded
501,000
520,000
562,000
588,000
Total stock-Estimated
$29,000
355,000
399,000
433,000
Of which. American
22,000
12,000
25,000
27,000
Total imports of the weck
6,000
2,000
10,000
14,000
Of which American
48,000
39,000
38,000
46,000
Amount afloat
5,000
4,000
6,000
moo
Of which American
The tone of the Liverpool market for spots and futures
.each day of the past week and the daily closing prices of
spot cotton have been as follows:
Saturday.
Spot.
Market,
12:15
P.M.
Monday.
1
/
Steady.
Mid.Upl'ds
:Sales
,Spec.&exp.
Tuesday. Wednesday. Thursday.1 Friday.
HOLIDAY.
HOLII)AY.
Dull.
Neglected.
6.92
6.62
6.80
6.77
5,000
500
4,000
500
4,000
500
3,000
300
Irreg. at
10011
pts. dec.
Futures.
Market
'opened
Neglected.
Weak at
12014
pts. dec.
Steady at St'y, unch.
50.8 pts.
1 point
decline.
advance.
419
from that section. The world's exports were 10,928,000
bushels, against 10,448,000 last week and 10,464,000 last
year. The American visible supply increased 4,565,000
bushels, against 6,922,000 last week and only 2,423,000 last
year. To-day prices advanced in the face of improved
weather Northwest, on heavy buying by cash and export
houses.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red
96
96
96
973%
06'% 96
September delivery in elevator_ _
983% 973% 97% 97% 98%
97
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_ _
92
93 % 923% 92% 92 % 93%
December delivery in elevator
96
97% 963% 983% 96% 97%
May delivery in elevator
1023% 1023% 102 % 103
101 % 103
Indian corn has advanced slightly on recent hot, dry
weather in the Southwest and on a bullish construction of
the Government report, which placed the indicated crop at
about 2,700,000,000 bush., against 3,125,713,000 bush.
last year. Unfavorable crop accounts have been received
from Iowa, Illinois, Missouri and Michigan, and the visible
supply fell off 1,523,000 bush. On the other hand, good
rains have fallen in Nebraska, Kansas and Missouri, and the
weather is generally conceded to have benefited the crop
since the compilation of the Government figures. Roumanian crop advices are favorable. Prices to-day advanced
on some unfavorable crop reports, continued hot weather
The prices for futures at Liverpool for each day are given Southwest and on the advance in wheat.
'below. Prices are on the basis of upland, good ordinary DATLY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Frt.
'
,clause, unless otherwise stated.
70%
Cash corn
71% 71%
Market.
4
P.M.
.Easy at Very st'dy Quiet at Steady at
17%@t24
at 4648
2%647
%642%
pts. dec. pts. dec. pts. adv.. pts. adv.
I
Mon.
Tues.
Wed.
Thucs.
Fri.
Awe. 5
Sat.
to
Aug. 11. 12 112
p.m.
,
t2!.; 4 124 4
12'A
4
121 4
O.In• p.m. p.m. 13.1n• p.m. p.m. pin. p.m. p.m. p.m.
August _ _
Aug.-Sep _
Sept.-Oct.
'Oct.-Nov_
Nov.-Dec. l01,DAY.
Dec.-Jan
Jan.-Feb
Feb.-Mch.
Mch.-Apr.
Apr.-May
May-June
600 46 20% 38 47% 45 44% 47
842 29 14% 2334j 33 29% 29% 32
6 18% 07 93 02% 12 07% 073% 08
6 12% 01 87% 97 07% 00% 01 01
HOLI- 608 97% 84 • 93% 03% 96% 97 97
DAY. 6 07% 97 83% 93 03% 96 97 963%
6 08% 98 84% 94 04 97 97% 97%
6 10% 00 80% 95% 05% 98% 99 99
12%02% 88% 97% 07% 00% 01 01
614 03% 89% 98% 08% 01% 02 02
6 15% 05 91% 00% 10% 03 033% 03%
70'%
703%
72%
September delivery in elevator_ _ _ _ 70 A 69% 70% 70% ____ 71 A
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Yates. Wed. Thurs. Fri.
September delivery in elevator_ _ 643% 64% 64% 65
85% 65%
December delivery in elevator_ _ _ _ 82
61% 62% 62% 62% 63
64% 64 A 64% 64% 65
May delivery in elevator
65%
Oats have been steady in the main, although cash oats
and the September option have at times declined. The
Government report indicated a crop of 817,800,000 bush.,
against 1,126,765,000 last year, out of which, by the way,
it is estimated that some 1,027,000,000 bush. were consumed.
Bulls call attention to indicated shortages of hay, pastures,
potatoes, barley and minor cereals. Country offerings of
new oats, however, have been large, causing the heaviness
mentioned in near-by oats, and latterly the reports of yields
BREADSTUFF&
have in many instances been more encouraging. The visible
Friday Night, Aug. 11 1911.
supply increased 1,621,000 bush. To-day prices advanced
Flour has been moderately active and firm, al though at on expectations of lighter receipts.
times during the week business at Northwes tern and interior
DAILY CLOSING PRICES OF OATS IN NEW YORK.
points has been dull. With the firmness of wheat prices,
Sot. Mon. Tues. Wed. Thurs. Fri.
47% 463% 46
46
46
,46
however, and predictions of moderate cereal crops, together Standards
No.
2
white
48
47
463% 46% 4t% 46%
with a renewal of export demand, prices on patents have in
DAILY CLOSING PRICES OF OATS FUT IMES IN CHICAGO.
sonic instances been advanced 30 to 500. per barrel. LatSat. Mon . lees. Wed. Thurs. Fri.
delivery in elevator__
42% '42% 4 1% 41 A 41 A '42
terly some of the Western , markets have reported an im- September
December delivery in elevator._ _ _ _ 44% 44% 4434 4494 44% . 44 %
proved demand at the advanced quotations, seemingly in- May delivery in elevator
.
47% 47
47 A 47 A 46 A 4714
dicating a belief that the surplus for export may prove smaller
The following are closing quotations:.
have
thitn, the average of recent estimates. Kansas straights
FLOUR.
low grades_ ___$3 00 $3 25 Kansas straights, sack_$4 3®4 60
been-quite active. Bran and mill feed have met with an Winter,
4 15
Winter patents
475 Kansas clears, sacks___ 3 85
4 60
a
improved demand. Many buyers, however, believe in
5 95® 6 50
Winter straights
4 25 @ 4 40 City patents
3 75@ 400 Ryeflour.._.4 90® 5 15
reaction because of the large stocks'at Chicago. The output Winter clears
Spring patents3
85® 4 00
5 3 0® 5 60 Graham flour
of flour for the week at Minneapolis, Duluth and Milwaukee Spring straights
4 8 0® 5 00 Cornmeal, kiln dried__ 3 70 ® 3 80
4 2 5@ 4 50
was 333,600 barrels, against 339,600 the week before and Spring clears
4 12AIN.
;1 1G
310,400 a year ago.
Cents.
Wheat, per bushel-f.o.b.
per
2 bushelCo .p
Wheat has been in the main firm and at times higher on
N. Spring, No. 1
f.o.b.
No.
N.
elevator
Nominal
Spring,
No.
1
Steamer
2
13%
weather
insistent reports of crop damage and of unfavorable
Nominal
Red winter, No. 2
973%
No. 3elevator
conditions in the United States, Canada and Russia and some
bues
stheelln
Hard winter, No. 2
er vy
,.p2
eo
RYN
Nominal
Oats,
per
9
4
1
6
8
s
.
Cen
bushel,
newother producing regions. Interest, too, has centred around
Nominal
State and Pennsylvania
Standards
the Government report, which was announced on Wednesday,
46% Barley-Malting
Nominal
No. 2 white
No. 3 white
4534
and which fulfilled bullish predictions. It made the indicated winter-wheat crop 455,149,000 bushels, against 464,AGRICULTURAL DEPARTMENT'S REPORT ON
crop
and
the
spring-wheat
209,645,700 CEREAL CROPS, &C., TO AUG. 1.-The Agricultural
044,000 last year
bushels, against 231,399,000 a year ago, or a total this year Department issued on the 9th inst, its report on the cereal
bushels,
against
an
outturn
of 695,- crops for the month of July as follows:
of a round 665,000,000
The Crop-Reporting Board of the Bureau of Statistics of the United
443,000 bushels a year ago. These figures were about in line
Department of Agriculture estimates, from the reports of the
with many private estimates, and prices for a time advanced. States
correspondents and agents of the Bureau, as follows:
in
factors
the
prices,
as
firmness
of
Another of the leading
For the UNITED STATES:
-Acreage, 1911-Condition, Aug.1- July 1
already intimated, has been bad news as to the Russian crop;
Acres.
Crops1911. % 011910.
1910. 10-yr.Av
1911.
in fact, there have been estimates of as low as 65,000,000 Corn
101.7
115,939,000
80.1
69.6
79.3
81.2
106.6
31,367,000
Winter
wheat
_
___
76.8
_
_
region
exportable
Azof
surplus.
In
the
bushels for the Russian
20,757,000
Spring wheat
73.8
104.9
82.3
59.8
6-1:6
there have been many complaints of excessive rain and in the All wheat
52,124,000
105.9
70.6
35,250,000
65.7
81.58-2:i
68.8
99.9
Volga district Russian advices state that the crop is practi- Oats
66.2
7,038,000
Barley
70.0
85.1
72.1
97.0
enough,
Conthe
Significantly
English
and
cally a failure.
1,962,000
Rye
85.0
96.7
82.9
87:5
91-1
97.0
tinental markets have displayed a rising trend, although the Buckwheat
62.3
75.8
84.8
97.3
3,498051,000000
P
7-6.
:6
otatoes
times
labor
been
disturbed
by
at
market
has
Liverpool
68.0
78.5
893,200
72.4
Tobacco
.2
72.6
3,013,000
.
83.8'
80.9
103.3
troubles. Of late the export inquiry has increased and al- Flax.
705,700
87.6
88.3
87.7
97.6
though little or no export business was consummated early Rice88.3
68.6
83.1
43,017,000
87.1
94.1
64.9
Hay
in the week, latterly over 1,700,000 bushels have been taken Apples
47.8'
53.9
53.0
57.9
The yields indicated by the condition of crops on Aug. 1 ,1911, the final
for export. Uneasiness has been manifested regarding the yields
in 1910, and the averages for 1906-10, follow:
condition of spring wheat in the Northwest and in Canada.
Indicated total
producition. 1911,
Rust has damaged the American spring-wheat crop and of late
compared with
Yield per Acre.
Canadian reports have been of rust and of spotted conditions,
total production in
1911, inwith some fears of frost, which last has also caused appre.1910. 1906-10
dicated by
1910. 1906-10
hension in the American Northwest. To sum up, to many it
Final. Average.
condition.
P. C. Ar.P.C.
Crops27.4
27.1
bUsh. 22.6
83.8
93.0
appears that Europe is about to become a larger buyer of Corn
" a14.5
15.8
15.5
98.1
101.1
Winter wheat
American wheat. Yet many of the crop accounts have been Spring
11.7
" 10.1
88.2
13.5
90.6
wheat
14.1
" 12.3
95.6
95.9
14.7
distinctly favorable, there was a good increase in the visible All wheat
31.9
" 23.2
• 72.6
28.4
87.7
Oats
supply, the world's exports were heavy and large bull inter- Barley
" 19.8
22.4
85.9
83.8
24.8
ests have latterly sold heavily. France, Germany, Argen- Rye
" a15.6
16.3
94.6
16.4
92.9
18.1
"
20.9
19.684.1
91.2
Buckwheat
..
tina and Australia have sent gratifying crop accounts, har- Potatoes
96.9
73.8
78.1
71.5
94.4
vesting in the United Kingdom is progressing under favorable Tobacco
lbs.672.4
61.0
74.5
797.8
826.0
bush.
7.6
,
*9.9
162.2
97.7
4.8
conditions, and in Canada the weather has improved, while Flax
94.1
107.5
' 32.7
33.9
32.4
in the American Northwest harvesting is in progress and Rice
tons 1.14
77.2
1.33
1.41
80.4
Hay
a Preliminary estimate of yield. • Average for 1905-09.
there have, moreover, been some favorable crop accounts
420
Preliminary returns indicate a WINTER-WHEAT yield of about 14.5
bushels per acre, or a total of 455,149,000 bushels, as compared with 464,044,000 finally estimated last year, and 450,130,000, the average annual
production in the past five years. Quality is 92.0, against 92.6 last year.
The amount of OATS remaining on farms Aug. 1 is estimated at 5.7%
of last year's crop, or about 64,342,000 bushels, as compared with 63,249,000 bushels on Aug. 1 1910, and 52,663,000, the average amount on farms
Aug. 1 for the past five years.
The preliminary estimate of the production of RYE is 30,677,000 bushels,
as compared with 33,039,000 bushels last year, and 32,414,000, the average
annual production in the past five years. Quality is 91.5, against 92.7 last
year.
For other tables usually given here, see page 389.
[VoL. Lxxxxm.
THE CHRONICLE
New York to Aug. 5Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
----1911
Since
Week. Jan. 1.
11
494
25
622
7,161
68,624
17,866
12,524
543
8,716
384
23,883
9
1,395
501
12,125
586
35,827
208
23,009
9,424 205,085
----1910----Since
Week. Jan. 1.
1,273
2
8
630
44,396
1,629
13
8,428
536
7,540
3,450
822
16,994
852
1,226
27
6,542
563
1,059
29,920
27,021
1,852
454,475 -83,467,852
83,194,733
Total Imports
IMPORTS ENTERED
66,571,571
Total
7,363 147,420
The visible supply of grain, comprising the stocks in
The value of these New York exports since Jan. 1 has been
granary at principal points of accumulation at lake and
$14,378,647 in 1911, against $10,342,743 in 1910.
seaboard ports, Aug. 51911, was as follows:
Trading in domestic cottons was somewhat more active,
AMERICAN GRAIN STOCKS.
Corn,
Oats,
Rye,
Wheat,
Barley, but unevenly distributed,and principally of a filling-in charbush.
bush.
bush.
bush.
bush. acter. "Fruit-of-the-Loom" bleached muslins were adNew York
504,000
266,000
899,000
7,000 vanced to
8Mc. net, and a similar advance was made on
Boston
26,000
375,000
63,000
2,000
other branded bleached goods, while a firmer tone was noted
Philadelphia
524,000
208,000
167,000
3,000
Baltimore
1,931,000
on
some
lines of cottons which were not reduced when "Fruit111,000
New Orleans
118,000
112,000
o-the-Loom" fabrics were recently lowered. These ad10,000
Galveston
171,000
1,680,000
628,000
Buffalo
2,057,000
471,000 vances were taken to indicate that bottom prices on the lines
340,000
1,000
97,000
Toledo
2,141,000
affected had been reached, and buyers accordingly operated
115,000
227,000
6,000
113,000
Detroit
4,000
5,578,000
2,635,000
Chicago
18,132,000
32,000 with more confidence. Business in staple prints and ging168,000
26,000
Milwaukee
60,000
26,000
hams consisted chiefly of small orders for current require110,000
529,000
Duluth
576,000
411.000
4,000
11,000
Minneapolis
5,317,000
37,000 ments. Heavy brown sheetings ruled firm, with an increas4,000
461,000
100,000
St. Louis
40,000 ing scarcity
4,513,000
of well-known brands, and the same is true of
225,000
393,000
Kansas City
4,785,000
1,427,000
various lines of denims, tickings and other staple domestics.
2,000
Peoria
8,000
128,000
92,000
Indianapolis
771,000
Wash fabrics were in fair request, but few large orders were
662,000
460,000
22.000
Omaha
1,250,000
received. Export trade remained dull and, featureless.
140,000
On Lakes
316,000
1,996,000
291,000
278,000
184,000
On Canal and River_ __
Print cloths and convertibles ruled quiet, with trading con22,000
6,005,000 13,000,000
669,000 fined to small, scattered lots; mills are firm on goods to be
Total Aug.5 1911.._ A5,881,000
14,000
714,000 made, but there has been some further shading on limited
Total July 29 1911_41,316,000 8,001,000 11,203,000
2,645,000
231,000
3,708,000
741,000
Total Aug. 6 1910_14,798,000
2,366,000
2,803,000
124,000
188,000 quantities of spots. Gray goods, 38 2-inch standard, are
Total Aug. 7 1909_ 7,195,000
quoted at 43-sic. to 4%c., but most mills are holding for
CANADIAN GRAIN STOCKS.
slightly higher prices.
Wheat,
Oats,
Corn,
Rye,
Barley:
bush.
WOOLEN GOODS.-The primary market for men's wear
bush.
bush.
bush.
bush.
665,000
588,000
355,000
Montreal
31,000 was more active, as leading clothing manufacturers operated
2,435,000
1,115,000
Fort William
quite freely on lines for spring. The business placed with
1,332,000
1,486,000
Port Arthur
1,429,000
811,000
Other Canadian
some mills was satisfactory, but with others it was disap----Total Aug. 5 1911
5,397,000
588,000
4,231,000
31,000 pointing. Demand ran largely to serges, although carded
858,000
4,731,100
31,000 woolens and fancy worsteds were well patronized. It was
Total July 29 1911.... 6,018,000
Total Aug. 6 1910- 4,101,000
23,000
841,000
111,000 announced
that some fabrics had been sold up and withdrawn,
Total Aug. 7 1009.._ 1.156.000
157.000
59.000
74.000
while certain lines, notably serges, were advanced 23/2c. to 5c.
SUMMARY.
a yard over opening quotations. Dress goods for spring
Corn,
Oats,
Rye,
Wheat,
Barley,
bush.
bush.
bush.
bush.
bush. showed no improvement, buyers continuing rather indifferAmerican
13,000,000
45,881,000
6,005,000
22,000
669,000 ent, and producers of cheap fabrics have deferred naming
Canadian
588,000 4,231,000
5,397,000
31,000
---- ---- ---- ---- ---- prices for the new season until purchasers show snore interest.
Total Aug. 5 1911 51,278,000
6,593,000 17,231,000
22,000
700,000 Uncertainty over the tariff is held largely responsible for the
Total July 29 1911_ _47,334,000
8,859,000 15,934,000
14,000
745.000
3,486,000
Total Aug. 6 1910_18,899,000
3,731,000
231,000
852,000 hesitancy shown by both mills and buyers.
2,960,000
Total Aug. 7 1909_ _ 9,351,000
124,000
2,425,000
262,000
FOREIGN DRY GOODS.-Activity in dress linens for
spring continued unabated, and fair orders were received for
fall housekeeping lines. Imported woolens and worsteds
THE DRY GOODS TRADE.
were taken only in moderate quantities. Burlaps were
quiet but easier, in sympathy with Calcutta; lightweights
•
New York, Friday Night, Aug. 111911.
2-ounce at 5.25c.
Out-of-town retailers were more numerous in local textile are quoted at 3.85c. and 103/
s,„
markets this week, and their operations caused increased Importations
Warehouse Withdrawals of Dry Goods.
•
NhcOo0h
activity in various lines, especially in jobbing houses, which •00
(?••12
,r Co ol 4, 4 CC N
o
..
10 to
oo co et oo co
reported a fairly satisfactory volume of business. The char00000.0 C')CS
I'.
c'o
•
t:r.fV7,0 4rolm
4G
gi tf.
0h0040
acter of the trading, however, differed little from that of
n I:2 2 T4 01
r,ohrloo. no 0
s
004,6010 •,•
•
r;•-.
n000i0Sr1
F
.
;
,
g
g
recent weeks, no general disposition being shown by mer0
05
chants to anticipate distant needs. This was the case parCI C, CD CD CM
C, CO er 00 Cl oh
ticularly in the cotton goods division, where unsettled con- •••
4
u, CD CD r. tr) nN
.3
CI
C.
ditions in the raw material market continued to restrict for- 444
00 450')-.0
CI r0 L44 C.. C4 COO
• CI
,-IC') cov
• W
00
ward buying and seemed to overshadow other factors in the 44-4 r0
C-)
00 IX)
situation, such as the increasing scarcity of many lines of r-4
0 et.
staple cottons and the growing curtailment of production.
000 er
000 00
E51
i!
Most of the orders placed this week on cotton goods were for
10
'17 1,1 C;
0000
00
prompt or near-by shipment to replenish limited stocks in
00 00
gPv,n2 c.;
Cl
merchants' hands, and requests for immediate deliveries
;4
•
became more frequent and numerous. In many lines buyers
an
CD CO M
ri ro el -r -r Cl 'O CO
t. 0
N -r c,*05
CO er et t. rt 000 00
OCC00ON 0
.ceococ
, 000 et
found available supplies of well-known staples not as abunQct
.
0
.
,..4 ..a. h
. 4 ...
n: et el 0) 00
-racc,4.1
r4 000 CS
dant as they had thought, and in not a few instances they
.- 4c7
.
1 4-4
were obliged to order goods and take their turn on deliveries.
• er et el el. .4 .4
The demand this week came principally from Southern and
0h
ION
el cp Co A er
4
ctut,N0
Western interests-in other words, from agricultural rather
C:
Nh
N• 04,-.0 Oh
than industrial sections. Manufacturing trades, as well as
,
NO .14 ,.. 0.°
'
C.1 )0
retailers, operated with more freedom, but jobbers did little
.-0000000
II 00
ro Cl 0000
in the way of covering future requirements; they continued
N
0 ao
to take all goods due, and in a number of cases requested anCO o, M 00 .1
M Cl
00 0
0000
Cl
01
000 er N0
00
.
00 A 0 W
ticipations of shipments not yet due. The primary cotton
0000
.7;,0erlri 1000 "r
00
ir; er
CC CI
goods market ruled rather inactive so far as business for
CO
4-4 CD 4 OD
CI
N
.4
4.4 C I
er,
the future is concerned. Scattered sales of small lots at
•
ec
01
.4 c66
er CI 00
rconcessions were again reported, and some mills were disNC)
ri
02 .3 00
• Ce N t0 0000
posed to discount lower cotton later on, but the majority re4.SricotS NO N
CSC
00000000
0
,
mained firm on contracts, and on certain lines, notably lead'
11
.
3
W 0 00
Cl
ing brands of bleached goods, which were reduced recently,
CI
Cl
0;
prices were advanced. Cotton yarns were quiet, with con•
er el C) 00
C. M CD Ce
0, ,,
co
p4 00
COIN N'0
05000)0000
co
siderable irregularity in prices, due to offerings or short selling
Ca
01 00
• er
.N A 00
•
00'5-1
el 0... el
r'
by dealers and small mills in expectation of still cheaper raw
material. In staple underwear for spring, business was
quiet and conditions somewhat unsettled; leading balbriggan
manufacturers have decided to curtail production in an effort to steady prices. The largest producers of men's wear
'd
are getting a fairly good business on the higher grade staples
••-•
for future delivery, but the volume is below expectations.
.14
Dress goods generally are slow.
cc
a
aIs
CO
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending Aug. 5 were 9,424
COCJI
packages, valued at $528,270, their destination being to the
E4
5,111:0&-ii4N
points specified in the table below.
THE CHRONICLE
AUG. 191911.]
-
421
Price.
Maturity. Amount.
Rate.
Name.
Page.
$5,000 100
1916
434
303. _Columbus Grove, Ohio_
98
15,000
1931
_
_
6
....
issues)
(2
e,
Okla.
_Comanch
120_
3,000 100
424. _Commonwealth Sch. Dist., Cal.. 5
40,000 100
1931-1051
244_ _Como Ind. School Dist., Tex.._ 5
103.66
20,000
6
Cal
District,
244...Conley School
5,000 y100
1941
5
303_ _Cornelia. Ga
MUNICIPAL BOND SALES IN JULY.
13,800 100
434 1912-1921
103....Coshocton, Ohio (4 issues)
4,100 100
434
2 million dollars' 182_ _Crawford County, had
10,000 106.25
Notwithstanding the fact that more than
1926
5
Mich
success in 182.. _Croswell. n.
39,500 101.037
931
7
without
1
2
9
11
2
419
a
6
offered
were
bonds
Mont
_
al
360,
Culbertso
worth of municip
500,000 100.203
4
yahoga County. Ohio
000 105.251
during that month reached 303...Cu
150,000
150,
1940
5
120_ _ Dallas County, Ala
July, the securities disposed of
more
(3
Issues)
millions
Ohio
33/
_
182_ Dayton,
over
or
,742,
103.75
$39,491
28,000
of
1913-194o
te
4
aggrega
_
_
an
244_ _ Deerfield Fire District, Mass..
6,000 100
1912-1923
5
that of $35,832,789 182. _ Delhi Sc•hool District, Cal
100.55
than the next highest July output,
25,000
1921
5
Md
County,
_Dorchester
36,000 103.191
total, however, more 424..
1916-1927
5
381_ _Dorranceton. Pa
reported last year. Of last month's
14,400
434 1914-1921
the State of New York 303...Dunkirk School City, Ind
by
uted
100,000
6
contrib
1917-102
5
was
millions
23
than
244_ _Duval County. Fla
5} 100.114
70
7 30
111:0
4.30 51914..194o
rgh. New York 244_ _East Aurora, N. Y
Pittsbu
and
lphia
Philade
11915-1929
and the cities of
and
4s
100.088
000
17,000
0
$9,750,
1912-192
5
lphia
Philade
351_ _East Hampton S. D.. N. Y
State sold $12,500,000 4s,
5,000 100.20
Cal..
large issues included 182 __East Liberty Sch. Dist.,
100
80,000
Other
43is.
36
4
000
If
$1,065,
R.
ce.
120_
_East Providen
Pittsburgh
75,000 100
14
$470,000 4s and $360,000
27,500 101.14
4
in our list for July are as follows:
Me
424_
_Eden.
24.000 100
41941
$630,000 5s of Everett, Wash., 303... Elizabet'a, N. J
6,000 100
4s of Milwaukee, Wis.,
424_ _Ellinwood School District, Kan.. 5
7.500 100.33
9
, Ohio, $500,000 5s of 303_ _Ellswort
1915-191
County
434
ga
Cuyaho
,
Ohio
h
Township
of
4s
$500,000
Pa
$15,000 4s of 361__Emaus School District,
and
Ms
4
0
$498,00
99 100.041
8000
9
15,
Tex.,
Galveston County,
182__Erwin U. F. S. D. No. 1, N. Y_ 4
630,000 101.77
1931
5
of Grand Junction, Colo., and 244_ _Everett. Wash
101.514
3,500
1912-1921
Cleveland, Ohio, $450,000 5s
6
_
182_ _Fairview School District, Cal__
- - 65,000 - 103.88111
a1924
5
Tillamook, Ore. Large loans 361_ _Fargo, No. flak
$450,000 6s of the Port of
31 f 107,000 101.652
61921-19
5
Mont
1,
No,
S.
D.
o
29
g
F
s
r
14.
n,
u
e
Co.
C
so
3,...F
7,000 100.61
sold were Cleveland School Dis41916-1931
5
offered last month but not
3.000 101.10
1912-1916
_ 5
Minnesota-$500,000 State prison 244_ _Fitchville Twp. S. D., Ohio_ _ _ 434
3.725 100.187
1915
trict, Ohio-$500,000 4s;
,
361....Fostoria Ohio
100.338
60,000
,
1933
4.30
exceeding 43'%; Cabell County
244...Frankfort. N. Y
certificates offered at not
41921-1930 100,000 104.01
303....Franklin County, N. Y
,
100.764
District
100,000
f
School
s
Memphi
and
434
M
issues)
381_ _ Franklin County, Ohio (5
W. Va.-$300,000 434s,
1114,500 100.631
500 100 0,4
31
41916-19
43is.
536
Wash
000
30
No.
-$250,
D.
_
244
S.
Co.
_Franklin
Tenn.
1,200 100 lie
31
a comparison of all the various 244_ _Franklin Co. S. D. No.36, Wash 534 41916-19
30,000 101.08]
In the table below we give
434 1921-1931
244_ _Frederick City, Md
50,000
4
years.
1920-192
five
last
4
_
the
of
Ill.._
145,
July
No.
D.
in
S.
out
244_
_Freeport
7,000 101.314
forms of securities put
434 1913-1922
303_ _Fremont, Ohio
1.300 100 •
the total of all loans negotiated last 303_ _Friant School District, Cal
It will be noticed that
100 '.1
500,000
51
41931-19
5
_
_
_
.._
Tex_
County,
n
n to the $39,- 424_ _Galvesto
additio
in
•1•1
ng,
includi
,150,
$60,583
244_ _Galveston Co. Corn. S. D. No 11,
month was
1,200 100 PI
31
41916-19
5
,367
$17,903
Tex
above,
to
referred
•
100
10,000
51
491,742 permanent loans
41916-19
5
'rex
D.,
S.
Ind.
244__Garrison
5,000 100.20
Canadian debentures 182_ _Gazelle School District. Cal_ _ _ _ 8
temporary obligations and $1,688,041
40,000 105.665
1912-1951
5
District, Cal
School
_Gilroy
_
182
8,400
the Territory of Hawaii.
182_ _GlItner, Neb
and also $1,500,000 bonds of
4,000 100.97
5
41912-1951
1907.
1908.
1909.
244_ _Gonzales, Tex
1910.
1911.
97
450,000
26
'
41921-19
5
Colo
$
Junction,
$
$
182 _ ..Grand
$
$
100.30
18,3296
153,000
8 16,352,457 381...Grand Rapids, Mich.(2 issues).. 434 191121-311
Permanent loans(U. S.)_39,491,742 35,832,789 20,120,647 ?1.108,67
6
1,264.611
Idaho
6,278,567
le,
_
Grangevil
5,295,248
424_
8,135,071
Temporary loans(U. S.)..17,903,367
636,800 424_ _Greene es Lawrence Counties
6
Canadian loans (perm't). 1,688,041 1,532,313 35.144,492 27,172,39
260,000
6
1927-1931
Drainage District, Ark
425,000
Bonds of U. S. Possessions 1,500,000
150,000 100.78
a1919
434
244_ _Greene County, Mo
4,000,000
21,500 100
Gen. fund bds.(N. Y. C.)
4
120. Greene County, N. Y
13,500 100
4
Y
18,253,868
N.
54,559,641
County.
ene
50,550,387
120__G-e
3
49,925,77
0
60,583,15
25,000 100.506
Total
21
61914-19
Iowa
434
Dist.,
School
244_ _Griswold
25,000
rm bonds 303_Grove. Okla
The number of municipalities emitting long-te
90,000 100.555
41921-1928
6
_Gunnison, Colo
35,000 100
1925
July 1911 were 296 361_
361.. _Hamtramck S. D. No. 8, Mich. 434
and the number of separate issues during
25,000 100
Dist.,Ohlo. 4
08.76
357 and 499 for 182_ _Harrison Twp. Road S.
160,000
1936
D.,Conn. 4
and 390, respectively. This contrasts with
182.... Hartford-West Mid.
40,000
121_ _ Hattiesburg, Miss
100
108,000
1921
June 1911 and with 308 and 437 for July 1910.
4
303_ ..Herkimer County, N. Y
20.000 103.38
ng table 182_ _ Humboldt County, Nov
6
For comparative purposes we add the followi
100,000 100.77
1931
434
303_ _Huntington, Conn
a
for
48,890
months
seven
(434
showing the aggregates for July and the
303__Indlana (12 issues)
9,500
18
ry loans, and also
tempora
100,000
figures
these
In
years.
series of
381_ _Iron Mountain S. D., Mich.__ _
125,001
1917-1931
M
434
ll
III
d.
Park,
_Irving
424_
exclude
are
lities,
7,000 100
issues by Canadian muniaipa
41916-1951
For the
244_ _Jackson Co•Com.S.D.No.55,Tex. 5
Month of
For the
5,000 100
Month of
434 1913-1917
424„Java, N. Y
Seven Mos.
July.
Seven Mos.
25,000
July.
1913-1924
0
55
Ark
County,
$09,485,5
_Jefferson
245..
5
38,282,49
15,000 100.10j
$39,491,742 3262,227,695 1901
1928-1928
1911
4
86,047,708 245_ _Jefferson County, N. Y
8,104,043
35,832,789 198,678,899 1900
35,000 100 PM
4
1910
81,959,334 362.. _Jefferson County, Ohio
18,613,958
4.000 102.501
20,120,647 227,245,964 1890
1916
1909
5
Ohio_
0
D.,
S.
Special
51,947,11
_Jerome
121_
7,868,563
21,108,678 190,191,257 1898
35,000 104.431
1931
1008
4 36
90,665,235 424.._•Tollet. Ill
17,389,859
16,352,457 131,700,346 1897
10,000
1941
1907
5
Caro.
No.
S.D.,
9
Grad.
o
48,490,45
_Jonesbor
424_
5,313,495
25,442,095 127,780,340 1896
18,000
1908
1914-1922
4
72,366,273 304.... Kalamazoo, Mich
15,374,660
60,000 102.33
1905 ___ _ 10,878.302 122,601,356 1895
74,680,229 182_ _ Kalamazoo S. D. No. 1, Mich.._ 434 1918-1921
8,253,237
33,233,254 171,102,409 1894
62,000 103.599
1936
1904
434
J
5
N.
34,354,71
Kearney.
_
304_
1,691,600
95,246,674 1893
15,070,240
40,000
1903
41021-1931
5
53,232,391 183...Kearney S. D. No. 7, Neb
4,139,100
12,861,550 100,489,945 1892
10,000 101
41916-1921
1902
8
183.... Kelso, Wash
15,000
the 352_ ..Kendrick School Dist., Ida__ _ _ 5
to
loans
July
of
list
a
give
g
we
table
followin
In the
0 100
,00
1931
510
lities. In 304_ _Kenmare, No. Car
30,000
534 41921-1931
amount of $39,491,742, issued by 296 municipa
as
ick,
k, Wh
_Kennew
Kennewic
_
304
15,000 100
31
the
in
41912-19
page
5
the
to
made
Wash
is
e
71,
loan
No.
D.
referenc
each
S.
Co.
_King.
245_
the case of
6,000 100
41912-1916
is given.
304_ _King Co. S. D. No. 97, Wash.... 5
7,000 100
41912-1916
"Chronicle" where an account of the sale
304_ _King Co. S. D. No. 134, Wash_ 5
8,000 100
31
41916-19
5
Wash..
137,
No.
JULY BOND SALES.
D.
S.
121_ _King Co.
13,500
5
Price. 362.. _ La Grange, Ill
Amount.
Maturity
Rate.
Name.
50,000 108.25
al919
5
Page.
375,000 101.049 245....Lake Township, Mich
41921-1931
5
25,000 100.14 '
359 _ _Albany, Oro
434 1916-1940
10,000 100.85
41921-1931
304_ _Larchmout, N. Y
5
75,000
41
41931-19
243.. _Alcorn County, Miss
55,000
352_ _Las Cruces, N. Mex.(2 issues).. _ 5
4 4 1921-1951
10,650 101.41
423_ _Alhambra City High S.D., Cal
4
60,000
Mass
n,
183..
1921-1951
_Lexingto
4i
630,000
423_ _Alhambra City S. D., Cal
15,200 100
183....Liberal, Kan
1928
44
107.15
50,000
302_Alliance, Ohio
491
92
a119
5
65,000 100 .
304 ...Liberty Township, Ohio
1931
54
9,000
302_ _Amory, Miss
536 1912-1920
3,000 100.613 362_ _Little Rock, Ark
436
9
0
9
0
0
35,9
119_,Archb01d, Ohio
31
41921-19
5
12,000
School District, Utah.....
304.
41616-1951
6
28,000 103.071
423 _ _Archer City. Tex
a1920
434
5,000
304 _ _ Lorain, Ohio
5
1912-1921
289,000 103.805
1921
360 _Arthur S. D. No. 86, Ill
434
25,000 102.58
183_ _Louisville, Ky
1951
4 )4
101.777
44.000
181_ _ Asbury Park, N. J
1912-1921
4
.
2,800 105.29
304 _ Lowell, Mass
5
a1916
". 6,500 103.827
302_ _Ashlanii, Ohio__
a1920
4 36
12,000 100.262 183_ _McConnellsville./Ohlo
6
41912-1921
101.25
15,000
360.. _Ashland, Ore
434
107.15
Pa
100,000
5
304....McDonald,
1921-1930
3,100
1913
302._Atlantic County, N. J
4M
20,000 101.25
304_ _"Msdison Township, Ohio
181_Auglaize County, Ohio__ ._ ._. _ 6
42,000 104.21
4
104.33
Mass
250,000
_Malden,
121_
4
1031
98.30
18,000
302 _ _ I3angor, Me
334 1929-1931
1,000 100
5
245_ _Manchester, N. H
41921-1951
243_ _ Bartlett, Tex
1931
534
6
170,000 100.676 245..„Manden. N. D
9 100.16
0 90
37:5
899
302 _ _Bates County, Mo
4
issues)
Ohio
(2
100.231
3,450
_Marlon,
5
352_
1931
10,000 101.75
1921
243.. _ Bay Township, Ohio
434
10,000 100
245_ _Marquette. Mich
535
10,000 100
350_ _ Bellevue, Iowa
434
12,000 100
425_ _Mars, Pa __ __ ..
436
300,000f 100.01 to
25
41921-10
243_ _Bellevue Ind. S. D., Iowa
4
d
107.34
5,000
4
121_ .Marylan
1 100.82
243 _ _Belmont, Mass
5.000 101.54
4
1911-411921
24,000
243.. _ Belmont, Mass
436
362_ _Mason, Mich
100,000 101
45.000 103.089
al921
302.. _ Benton Harbor, Mich
4
Mass.
50,000
245_ _Melrose,
434
1941
3,0001 101.50
302_ _Benton Harbor, Mich
147,000 104.09
245_ _Merced Co. S. D., Cal. (2 Lssues)I6
44
0f
,
0
00
3:0
10
7
302_ _Bergen County', N. J.(5 issues).
15
15,000 100
119__Bismarolc, No. Dak
_
Okla.__
4
121 _ _Miami School District,
1
1019-192
Ind
104.276
ton,
30,000
Blooming
302....
434
40,00S
362 _ _Middletown. Ohio
434 41021-1931
15,000 100
302__Bolse City, Idaho
70,000 102.39
183_ _Mllaca Ind. S. D. No. 13, Minn_ 4 4
___ ._ 4
1912-1921
101.90
50,000
a1
1993201
5
t_
243_ _Braintree, Mass. (2 issues)Iowa..
No.1.Mon
2,000 100
362_ _Mlles City Ind.S.D.
5
41913-1916
0
,
20:000
47
243_ _Brighton School District,
1931
183. _Milford Ind. Sch. Dust., Iowa__ 4_ _
183,000 100.10
334
.17
88
181_ _Cambridge, Mass
1912Ws
ee,
_Milwauk
.10to
248_
2,0001 103
5
(11923
3
09
360,000 19
4 4 1912-1931
303....Canaan 'rwp. S. D., Ohio
1 106.55
-245....Milssaukce. Wis.
50,000 100
4
Mich
District,
School
_Monroe
100
304..
24,000
4.1
12,000
4
181_Canastota, N. Y
50,000 101.205 362.. _Montgomery County, Md
434
1,700 100.91
243_ _Canton, Ohio (8 issues)
434
245_ _Montgomery County, Ohio
230,000 102.50
6
10,000 100.737
181_ _Carroll County, Mo
4
4
Ohio
County,
ry
Montgome
1,000
245_
1018
435
100
18,000
1918
243__Castile, N Y
4
25,
No.
D.
Ill.__
S.
lo
55,000 102.72
183_ _Monticel
a1927
434
17,000
243_ _Cedar Rapids, Iowa
41916-1931
5
45.000 100.30
245 __Morrill County. Neb
1941
434
10,000 103.40
243_ _Chattanooga, Tenn
5
_
,N.Y
S.D.No.1
santU.F.
102.27
_Mt.Plea
121_
300,000
10,000 101
1921
181._Cincinnati, Ohio
5
245..Mt. Sterling, 111
25,000
-11931
41911:1)
5
46
35,000 106.717
1921-1950
300_ _Clarence Special S. D., Mo
9,000
425_ _Mt. Tamalpais U.H.S. D., Cal_ 5
6
1912-1920
102.095
223,200
244. _Clay County, Fla
4
..
_
(4
issues)
Mass.
Bedford,
362.__New
498,000
J434
99.032
40,000
303_ _Cleveland, Ohio (8 issues)
4
121__New Britain, Conn
15,000
4
0 100
000
2:0
20
15
921
16
3
9
17
191
334
e
Hampshir
101
w
304__Ne
1,000
---.....
1936
244_ _Cloverdale Sehool District. Cal_ 6
Car_
434
20,000 103.66
121__New Hanover County, No.
1921
6
182__Coalinga. Cal
tNT,
STA.rt Awl,JT.Y.........tpati
_________.....__
.......__rrivr
422
THE CHRONICLE
Page.
Name.
Rate.
245_ _New Lexington, Ohio
4
122._Newport, N. Y
4
245_ _New York State (2 issues)
4
425__Niagara Falls, N. Y
44
425_ _Niagara Falls, N. Y
434
246_ _Niagara Falls, N. Y
4%
247_ _Noble Twp., Ohio
4
425_ _No. Arlington S. D., N. J
43
247_ _North Bend, Ore
5 j4
122_ _Norwalk Twp., Ohio
5
122_ _Nottingham, Ohio
43
30& Oak Harbor, Ohio
4
425.._Oakhurst Sch. Dist., Cal
6
304 _ _Oakley, Ohio
5
304_ _Oakley, Ohio
4
183_ _Oklahoma County, Okla
5%
363_ _Omaha, Neb
4%
363._ _Oroville, Wash
306._Owosso, Mich
4%
363_ _Oxford, Ohio
4S
183_ _Oyster Bay S. D. No. 5, N. Y
4S
247.. _Pacific Grove, Cal. (2 issues)___ 5
363_ _Pana, Ill
434
363.. _Park City, Tenn
5
183_ _Pasadena, Cal
434
[VoL. Lxxxxiii.
Maturity. Amount. Price. I Page.
NameAmount..•
1920
$4,500
; 30z_ Alliance, Ohio (June list)
1941
15,000 100
$15,200
/ 301_ Baltimore, Md. (May list)
1961 12,500,000 103.80
100,000
424_ Deerpark S. D. No. 1, N. Y.(May list)
1941-1949 880,uOOl loz.327 362_ Lebanon, Ore. (April
53,000
list)
1931
6,000
70,000
362_ Miles City Sch. Dist. No. 1, Mont. (April
list)
1931
50,000
42,500 105.5123 304.. Orrville, Ohio (June list)
••
1917
4,000
56,900
305_ Pontiac, Mich. (June list)
1912-1934
22,500 100.088 306_ Youngstown Sch. Dist.,
100,000
Ohio (June list)
35,000 100.0057
69,000
a1014
5,000 101.6002
We have also learned of the following additional sales for
12,544 101.622
previous months.
25,000 100
1917-1921
2,200 100.227 Page.
Name.
Rate. Maturity. Amount, Price.
1941
2,5001. 109.995 243_ Anderson Twp. S. D., Ind
5
$8,750 104
1941
2,500f
181 Barnwell, So. Caro
6
1031
6,000 y102.71&
1936
40,000 y100.50
181 BrIdgewathr, Minn
5
1914
' 3,000 100
a1918
379,000 100.53
181_ Champlain, N. V...5
1912-1927
8,000
10,000
1654_Colorado Springs, Colo
4
1926
175,000
1912-1916
96.29
5,000 100
181_ Columbus, Ohlo415,5001
x100
1916-1921
4,000 101.305
74,000j
70,000 103.324 182_ Cuthbert, Ga
5
1941
20,000 y101
1912-1951
72,000 11104.027 244_ Franklin County, Ohio
4A
al914
36,000 101
1931
49,000 101.34
182_ Gilmore City, Iowa
534
15,000
1941
25,000 100
244_ Glrard, Ohio
5
al914
1912-1951
4,000 102.375
41,000 j 4.40% 303_ _GreenburgS.D.No.6,N
.Y:(May) 5
1913-1924
6,000 100.13
1 basis
183_ _Merrill S. D., Iowa
183_ _Pasco, Wash
5
41918-1921
5
15,000
100
40,000 100
183_ Minnesota (28 issues)
247_ _Passaic, N. J
4
1941
234,356 100
43
51,000 107.131 183_ _Mountain Iron
S. D. No.2, Minn 5
247_ _Pawnee Co. Draln.D. No.1,Neb. 6
1012-1914
1916-1921
100,000 100.50
30,000 102.039
184_ _Pawnee Sch. Dist., Ill
6
5,000
9,600
245 _Nebraska (3 Issues)
184_ _Peoria, Ill
53,00011
0 0
6,500
247__PhIladelphla, Pa
4%
4
1941
27,000
3,771,000 101
245
_Nevada,
S. D., Cal
184.._Philadelphia, Pa
5
1022-1951
4
1941
30,000
107.13
979,000 5100.75
304 _North Dakota (10 issues)
4
25,650 100
Ito 102
183„Northville, N 'V
247_ _Pittsburgh, Pa.(3 issues)
5
1916
434 1912-1941 1,065,000 102.24
4,500 100
184
Pittsboro,
No. Caro
363_ _Pleasant Valley, N.Y
6
1941
5,000 100
434 1913-1924
6,000 100.60
184 Rockville Centre, N.Y
4.19
426_ _Plummer S. D. No. 741, Idaho_ 6
1920
11,000 100
1913-1921
5,000 100
184_ _Rockville Centre,
247__Plymouth Twp., Ohio
4.29
1921
5
6,000 100
10,000 109.381 248 _St. Charles, Mo N. Y
4
1916-1931
247_ _Portage, Ohio
6
30,000 100
1912-1921
5,000 104.20
185 _Seattle, Wash. (10 issues)
7
1916&1921 338,240
247_ _Port Lavaca I. S. D., Tex
5
1921-1951
2,500 100
248 _Spokane. Wash.(29 issues).._....6
1016&1921 347,456
363.. _Port of Tillamook. Ore
6
1931
450,000 *100
185_
_Seattle, Wash. (2 issues)
6
248....Portsmouth, N. II
1916&1921 189,758
4
1925
f 20,000 100.633 185_ _Sulpher, Okla
5
41921-1931 •
3,000
90
1 30,000 101.216 186 __Tacoma, Wash
6
184_ _Preble County, Ohio
1921
434
5,484
3,960
186 _Tacoma, Wash. (13 issues)_
7
184_ _Prescott Sch. Dist., Wash
1016-1921
534 41916-1921
47,018
35,000 101.062 249_ _Teton Co. S. D. No. 1,
Mont.__
__
363_ _Putnam County, Ohio
1926
5
3,000 101
1913-1017
4,000 102.16
186. _Tiffin, Ohio
363....Queen City, Mo
6
72,500
41916-1931
5,000
427 _Tucumcari, N. Alex
5
122.. _Quincy, Mass
4
75,000 100.166
a1914
27,733 100.933 186 Wellman Sch Dist., Iowa
363_ _Red Springs, No. Car
434 41021-1931
30,000
1941
534
35,000 100.10
186 _West Covington, Ky
426_ _Reedley Sch. Dist., Cal
5
5
1921-1935
9,200 y102.17
30,000 102.44
426....Roane County, Tenn
1031
All
the
45,000
above
101.388
sales
(except
as
indicated
)
363__Rome, N. Y
are for June.
1931
434
150,000
101.548
These additional June issues will make the total sales (not
426_ _Ronceverte, W. Vv.. (2 issues) _ 6
1941
16,000 108.581
305_ _Roseau County, Minn
5
including temporary loans) for that month $27,393,572.
a1025
30,000
248_ _Rotan Ind. Sch. Dist., Tex_ __ _ 5
41931-1951
3,000
100
383_ _Royalton Twp., Ohio
6
•
BONDS OF U. S. POSSESSIONS.
1,050 102.38
305_ _Rush County, Ind
434 1912-1920
7,888
302_ _Territory of Hawaii
4 41931-1941 $1,500,000 101.587
306._Rush County, Ind. (2 issues)__ 434 1912-1921
19,500
305_ _St. Clair Co. S. D. Nd. 92, EL__ 5
BONDS SOLD BY CANADIAN MUNICIPALITIES IN
1913-1930
18,000
JULY.
248_ _St. Helena U. H.S. D., Cal__ _ _ 5
30,000
101.222
Page.
Name.
305.. _Sandusky, Ohio
Rate, Maturity. Amount. Price.
4
1917
4,000
307_ Arcola S. D Bask
248_ _Sanger Ind. S. D., Tex
5
1941
$16,000
5
41916-1931
8,000 100
426._Aurora, Ont
305.. _Santa Barbara County, Cal_
5
1931
10,000
40,000 100
428_ _Aurora, Ont
364_ _Schenectady, N Y
1931
5,000
4%
1914
434
14,978 100.02
186_ _Berlin, Ont
246._Scotia, N Y
4A
29,000
4.80
1027
14,500
100.082
_Biadworth
366_
S.
D.
No. 1491, Sask. 534
426_ _Scotland, So. Dalt
1931
3,000
5
41910-1961
5,000
11100
366 _Castor S. D. No. 2194, Alta_
305__Seneca Falls, N Y
6
1031
8,000
434 1914-1925
36,000 100
307_ _Chesicy, Ont
248_ _Shakopee, Minn
1912-1031
5
16,000
1031
10,000 100.75
434
187 _Delisle, Sask
185_ _Shawnee County, Kan
6
1926
2,200
1921
50,000 100
434
428_ _Diamond City, Alta
1911-1021
185_ _Shawnee County, Kan
6
4,000
' 1912-1921
90,300 100
187.. _ Dundas, Ont
1941
186._Shelby, Ohio
5
12,000
5
6,000 106.84
428_
_Earl
Grey,
Simi:
1012-1926
122_Shelby,
6
2,500
County, Ohio
93.09
10,950 100
434 1912-1016
428_ _East Kildonan S. D., Man
1931
6
305_ _Shelton, Wash
13,000
15,000 100
534
187_ _Estevan, Sask. (3 Issues)
5
185 _Sherman, Tex. (3 issues)
33,000
32,000 102.062 428_ _Gretna Sch. Dist, No.
336, Man. 5
1931
427__Sisklyou County, Cal
7,000
6,
1916 98.21
5,000 100.20
336_ _Harrison S. D No. 431, Man_
5 . : 1911-1031
249.. _Somerset, Pa
13,000
4 S' ,
__
15,000 y100
428_ _Holden S. D. No.
185....Southington, Conn
53-4::, 1931
6,500
4%
1941
222,000 105.9875 187_ _Kamloops, B. C 1057, Sask
5,
364_ _Springfield P. D. & P. D.. Ill
85,000
4
40,000
307._ Kelliher, Bask
6
1121 - 305_ _Stamford, Conn
4 W"
4,000
'" f94i
340,000 106.135 307_ _ Kindersley S. D. No.2628,
1931
123_ _Stonewall County, Tex
5
30,000
41921-1951
50,000 100.655 386_ Melville, Sask. (3 issues) Sask, 6
- -,tf74-‘,` 4 5
1941
305_Tamaqua, Pa
90,000
434 41921-1941
45,000 y101.70
187„Monct
on,
N.
B.
(2
1912-1051
issues)
_1...4_ 43-4
249....Taunton, Mass
4
125,000
1940
15,0001
366. Morris Twp.,
1926
5
249.. _Taunton, Mass
4
1916-1940
10,000
25,000 105.177 250_ _Alendorf, SaskOnt
1926
6
249_ _Taunton, Mass
4
1,500
1921
35,000J
307_ New Castle, N B
1951
5
305_ _Tazewell County, Va
30,000 100
5
1945
125,000 102
187_ _New Hope S. D. Sask
53-4 1912-1931
305_ _Thermopolis, Wyo
8
4,500
41922-1931
20,000 103
187„Peterb
orough
CoUnty,
1012-1931
Ont
434
249_ _Three Rivers, Mich
11,000
434
1930
40,000
428._Prairie Flower S. D. N.989,Sask6
1931
186_ _Tippecanoe County, Ind
3,500
36,300 100
307_ _Rural Mun. of Esqulmalt, B. C_ 5
1953
123....Toledo, Ohio
125,000
4
1921
138,000
366_
_Rural
Mun.
of
Mcota,
Sask.__
_Topeka,
5
305_
Kan
7,000
434
98,472 100.323 187_ _Rural Mun. of Strathcona, Man.
4
1031
123.. _Townsend, Mont
5,000
6
41921-1931
35,000 102.028 307.. _Rural Mun.of Wood
Creek, Sask 534
1931
427_ _Trenton, N. J
6,000 102
4
1921
63,200
187 _ _St. Anthony R. C. S. D. No. 12,
427_ _Trenton, N. J.
4
1941
45,000
Alta
5
15,000
98.26
249 _ _Trenton Sch Dist., Mo
434 41921-1931
15,000
187_ _St. Boniface, Man.(10 issues). 5
421,669 103.77
249_ _Twin Falls, Idaho
7
1912-1916
76,650
366_ _St. Catharines, Ont.(4 issues)...4
%
224,800
306_ _Uhrichsville, Ohio
6,000 100
434 1912-1917
187....Southampton, Oct
5
19124941
7.500
98.84
364_ _Uhrichsville, Ohio
434
1936
2,500 102.05
187_ _Stoughton, Bask
6
1926
7,000
124 _Upper
_Upper Sandusky, Ohio
5
a1920
12,000 107
250_ _Stetter S. D. No. 1475, Alta
534 1912-1041
10,000
306„Utica, N. Y
36,000 100.90
434 1912-1929
366._Sydney, N. S.(2 issues)
1941
4%
150,000
306_ _Utica, N. Y
25,000 101.20
4% 1912-1931
307„Victorlaville, Quo
5
1961
75,000
364....Vancouver, Wash
6
1921
33,000
187_ Virden, Man
5
1012-1931
25,000
364_ _Vandergrift Heights S. D., Pa
97.81
5
a1925
20,000
250_ Welwyn, Sask
7
19124921
800
124....Van Wert County, Ohio
4
1912-1916
2,000
250_ Wolseley P.S. D. No. 48, Sask_ 5
1012-1931
7,500
186_ _Victor Sch. Dist., Cal
5
4,000 100.25
250_
York Twp., Ont
5
1912-1921
26,072
249_ _Vigo County, Ind
434
21,600 100
306_ _Wabash County, Ind
7,960
434
Total
$1,688,041
249_ _Wakeman Twp.. Ohio
4
8,700 100.344
249_ _Waterloo Twp. Sch. Dist. Ohio 6
1914
1,000 102.425 ADDITIONAL SALES OF DEBENTURES FOR PREVIOUS MONTHS.
365.. _Waynesboro Sch. Dist., Ila
4
41926-1941
60,000 101.669 Page.
Name.
Maturity. Amount. Price.
Rate.
186„Webb City, Mo
5
41921-1931
8,000 102.25
187_ _Balmae Sch. Dist., Bask
1912-1921
6
$2,000
365...Webb City Sch. Dist., Mo
4
41916-1931
20,000 100
187. Erskine, Alta
1912-1931
6
2,000
365_ _West Chester County, N. Y
a1933
434
20,000 103.682 187_ _Redpath Sch.
1012-1941
6
3,000
124_ _West Lafayette, Ohio
4%
1917
20,000 101.691 187_ _Rural Mun. of Dist., Alta
1912-1031
Huron, Sask_
6
15,000
306.. _West Minneapolis, Minn
5
1913-1929
17,000 100.147 187_ Saltcoats, Sask.
(2 Issues) _
15,000
306_ _West River Twp., Ind
91.074
434 1920-1923
3,000,
187_ Shelio, Sask.
6
365_ _Wethersfield, N Y
2,000
a1913
434
1,800 100
307....Sunny Brook S. D. No. 2230,
M....Wichita County, Tex
5
41921-1951
15,000
Alta
(May)
1921
6
365_ _Wilkes-Barre, Pa
800 191.60
5
1916-1927
36,000 103.191
428__Wilmington, Del
4
1931
98.192
50,000
All the above sales of debentures(except as indicated) took
249_ _Winkler County;Tex
5
41921-1951
6,000 100
306_ _Woburn, Mass
4
1922
20,000 103.067 place in June. These additional June issues will rake the
250_ _Wood County, Wis
6
1914-1928
25,000
total sales of debentures for that month $4,917,363'.'
186_ _Wright County, Minn
6
1912-1921
7,500 100.40
250....Wyandot County, Ohio
5
1912-1916
26,000 102.58
250_ _Wyoming County, N. Y _ _
4% 1922-1931
30,000 104.308
365_ _Yakima Co.S. D. No. 26,
__
5
41912-1931
7,500 100
186_ _Yakima Co. S. D. No. 49, Wash. 5
41912-1931
13,000 1/100
250_ _Youngstown, Ohio (16 issues) _ _ 5
90,965
_
366_ _YoungsvIlle Twp., No. Car.. _ _ _ 6
1941
15,000 '
Arizona-New Mexico.-Senate Passes StatehoodBill.-By
Total bond sales for July 1911 (296 municipalities,
a vote of 53 to 18 (10 not voting) the U.S. Senate'on Aug. 8
covering 390 separate issues)
k$39,401,742
'passed with unimportant amendments the House Resolution
a Average dates of Maturity. d Subject to call in and after the earlier
year and mature in the later year. k Not including $17,903,367 of tem- admitting both Territories to Statehood. These amendporary loans reported and which do not belong in the list. z Taken by ments were concurred in by the House on Aug. 10. An
amendsinking fund as an investment. y And other considerations.
ment offered by Senator Nelson, requiring the. voters
{1,4
News Hems.
of Arizona to eliminate from their Constitution the judiciary recall
provision as a "fundamental condition" of admission, was reThe following items, included in our totals for previous jected by a vote of 26 "yeas" to 43 "nays," 21
not voting. The
months, should be eliminated from the same. We give he resolution as passed
by both the House and
requires
page number of the issue of our paper in which the reasons , that the provision for the recall of judges Senate
in the Arizona
for these eliminations may be found.
'Constitution and a proposition to make the New Mexico
REVISED TOTALS FOR PREVIOUS MONTHS.
AUG. 12 1911]
THE CHRONICLE
423
•
Constitution easier.of amendment shall both be submitted
to a vote. Both 'Territories, however, are to be admitted
as States no matter how the voters decide on these propositions. See y. 92, p. 1448. It is thought likely that
President Taft will veto the resolution because of the provision for the recall of the judiciary.
Helena, Mont.-City Refunds Old Warrants.-By a vote
of 10 to 2 City Council on July 31 passed an ordinance
providing for the issuance of 4% bonds to refund old warrants
issued by the city between 1893 and 1897. According to
the "Montana Record,"the city. issued $190,000 or $200,000
of these warrants to pay its running expenses. They were
never taken up by the city, it appears, there being a question
as to their legality. The National Exchange Bank of
Providence, R. I.,holding nearly 50 per cent of the warrants,
recently agreed to accept for their payment 75% of the face
value without intereSt,and this offer was accepted by the city.
New York State.-Propositions to be Submitted at Next
General Election.-There will be submitted to the voters at
the next general election, Nov. 7, seven proposed amendments to the State Constitution and one bond proposition.
The latter is the question of approval of Chapter 746 of the
Laws of 1911 providing for the issuance of not exceeding
$19,800,000 bonds to bear not over 4% semi-annual
interest, for the purpose of furnishing terminals and facilities
for barge canal traffic. A direct annual tax of .006 of a mill
is imposed on each dollar of valuation of real and personal
property to pay the interest and prineipal on these bonds
within 30 years. The proposed constitUtional amendments
are as follows:
previous notice. The loan is to be represented by Treasury
bills of the Monetary Commission, which are to be an obligation of the Mexican Government and endorsed by the Banco
Nacional de Mexico, the official Government bank. Speyer
& Co. announce that the notes have all been sold.
Wichita, Kan.--Recall Petition Filed.-Petitions asking
for the recall of Mayor J. H. Graham and E. M. Leach and
It. B. Campbell, Commissioners, were filed with the City
Clerk on Aug. 5. In reviewing the names on the petitions,
it was discovered that a number of the signers were not registered voters,,and in view of this there is a doubt as to whether
or not there will be an election.
Bond Proposals and Negotiations this week
have been as follows:
ADAMS COUNTY (P. O. West Union), Ohio.-Bond .Sale.-On Aug. 7
the $7,000 4% 8 q-yr. (aver.) court-house bonds (V. 93, p. 243) were
purchased, It is stated, by the County Commissioners at par and interest.
AKRON. Summit County, Ohio.-Bond Offering.-Further details are
at hand relative to the offering on Aug. 15 of the following eight issues of
4 4% str.-impt. paving bonds (V. 93, p. 302), aggregating $132,800. Proposals will be received until 7:30 p. m. on that day by W. A. Durand, Sec.
Bd. of Sink. Fund Trustees.
$5,300 Spicer St. bonds. Denom. $530. Date May 15 1011. Due $1,060
May 15 1912 to 1916 incl.
12,800 Arlington St. bonds. Denom. $640. Date June 1 1911. Due
$1,280 June I 1912 to 1921 incl.
15,000 Nebraska & Upson St. bonds. Denom. $1,000. Date June 11911.
Due $1,000 in even yrs. and $2,000 odd yrs. June 1 1912-21 incl.
20,000 Lake St. bonds. Denom. *1,000. Date June 1 1911. Due $4,000
June 1 1912 to 1916 Incl.
35,000.West Exch. St. bonds. Denom. $1,000. Date June I 1911. Due
33,000 in even yrs. & $4,000 in odd yrs. from June 1 1912-21 incl.
6,500 Mills Ave. bonds. Denom. $650. Date June 1 1911. Due $650
June 1 1912 to 1921 Inclusive.
7,300 Crosby St. bonds. Denom. $730. Date June 1 1911. Due $730
1 1912 to 1921 incl.
June
No. 1.-Proposed amendment to Sec. 6 of Article 3, providing for the 30,900 Cuyahoga Falls Ave. bonds. Denom. $1,000 and $900. Date
increase in the salary of each member of the Senate (now one thousand
1 1911. Due $3,000 June 1 1912 to 1920 incl. and $3,900
June
five hundred dollars) to three thousand five hundred dollars; and also
June 1 1921.
providing for the increase in the salary of each member of the Assembly
Int. semi-ann. in N. Y. Bids must be made on each issue separately.
(now one thousand five hundred dollars) to three thouSand dollars. The Cert, cheek on a bank in Ohio for 5% of bonds bid for, payable to the Sink.
members of the Senate and Assembly shall also receive (now receiving one Fund Trustees, is required. Bids must be made on blank forms furnished
dollar for every ten miles they travel in going to and from their place of by city.
meeting once in each session) the sum of three cents for each mile they
The above are net new bonds but securities which have been held by the
shall travel in going to and returning from their place of meeting, once in sinking fund as Investments.
each week of actual attendance of the session, on the most usual route.
AHTANUM SCHOOL DISTRICT NO.6 (P.O. Alttanum), Wash.-Bonds
No. 2.-Proposed amendment to Sec. 2 of Article 6, which omits the pro- Voted.
-An election held July 31 resulted, It Is reported, in favor of the
vision that the justices of the Appellate Division in each department shall question of issuing $5,000 building bonds. The vote was 64 to 9.
therein,
have power to fix the times and places for holding special terms
ALGONA, Kossuth County, Iowa.-Bonds Voted.-A favorable vote
and to assign the Justices In the department to hold such terms; or to make
was cast on July 31, reports state, on the question of issuing $18,000 electricrules therefor.
the
light and water-plant impt. bonds. The vote was 317 "for" and 41
No. 3.-Proposed amendment to Sec. 14 of Article 6, providing for
election of two additional County judges In the County of Kings (now two) "against."
an
in
held
Election
General
ALHAMBRA CITY HIGH SCHOOL DISTRICT.Los Angeles County.
which additional judges shall be chosen at the
odd numbered year after the adoption of the amendment to this Section. Cal.-Bonds Offered by Bankers.-The W. It. Staats Co. of Pasadena is offor the term of six years from and including the first day of January next fering to Investors the 555,000 4 34% school bonds (V. 93, p. 64). Denom.
$1,000. Date July 1 1911. Int. ann. at the Co. Treas, office at Los
after their election.
No. 4.-Proposed amendment to Sec. 6 of Article 1, In relation to taking Angeles. Due $1,000 yrly. July 1 from 1921 to 1927 incl. and $2,000 yrly.
July 1 from 1928 to 1951 incl.
private property for public use.
the
for
providing
No. 5.-Proposed amendment to Sec. 4 of Article 4,
ALHAMBRA CITY SCHOOL DISTRICT, Los Angeles County. Cal.
increase in the salary of the Governor (now ten thousand dollars) to twenty- Bonds Offered by Bankers.-The W. R. Staats Co. of Pasadena Is offering to
$60,000 434% school bonds (V. 93, p. 64). Denom. $1,000.
Investors
the
five thousand dollars.
the
Date July 1 1911. Int. ann. at the Co. Treas. office at Los Angeles. Due
No. 6.-Proposed amendment to Sec. 8 of Article 7, regulating
abandon- $1,000
abandonment of canals, and the uSe of funds derived from suchprohibition
July 1 in 1921 and 1922 and $2,000 yrly. July 1 from 1928 to 1951
ment, defining the use of the word "canal", and extending the
Incl.
against disposition of certain canals of the State and properties used in
ALMA, Gratiot County, Mich.-Bonds Defeated.-An election held
connection therewith.
Aug.7 resulted in the defeat of the proposition to issue $10,000 bridge bonds.
No. 7.-Proposed amendment to Section 7 of Article 1, authorizing the
APPALACHIA, Wise tounty. Va.-Bond Offering.-Proposals will be
Supreme Court, with or without a jury, to ascertain the compensation to
Aug. 21 by M. D. Collier, Town Treas., for $26,000 water
be made when private property is taken for public use when such compensa- received until
$14.000 sidewalk, street and sewer impt. bonds. Denorn. $500. Int.
and
tion Is not made by the State.
semi-annually.
Oakland, Cal.-Bonds Declared Void.-The State Supreme
ARCHER CITY. Archer County. Tex.-Bond Sale.-The $12,000 6%
Court in a decision rendered Aug. 1 declares void the action 5-40-year (opt.) water bonds (V. 93, p. 64) have been sold, we are advised.
ARMSTRONG COUNTY (P. 0. Claude), Texas.-Bond Offertng.-Proof the City Council in providing for the creation of sewer
will be received until 1:30 p. m. Sept. 11 for the $60,000 5% courtdistricts and the issuance of $102,000 sewer bonds. The posals• bonds
voted May 6 (V. 92, p. 1579). Auth. Art. 877, Rev. Stat.
Court reverses the findings of Judge T. W. Harris of the house
Denom. $500. Int. in April at the Hanover Nat. Bank in New York, or at
Superior Court of Alameda County, and, it is stated, holds the State Treasurer's office at Austin, or at the County Treasurer's office
at Claude. Due 40 years, opt. after 5 years. Bonds to be delivered
the bonds void on the following counts:
(1) That the property owners were given no opportunity under the Act w thin 10 days after sale. Cert. check for $3,000, payable to J. C.Caldwell,
the
by
benefited
be
to
or
whether
was
not
their
property
to
as
heard
to be
County Treasurer, required. Bids to be unconditional. No bonded debt.
sewers proposed and therefore property to be included in the district to be No floating debt. Actual val.. $10,000,000; assessed val. for 1911,
taxed;(2) that the city of Oakland was not made responsible for the validity
states that there is no litigation pending or
of the bonds;(3) that the Act is In conflict with the Act of 1891. which pro- $5,150,000. Official circular
vides that no city shall incur a bonded indebtedness for public improve- threatened in any manner affecting the validity of this issue, or the title of
ments in excess of 15% of the assessed value of its taxable property;(4) that the officers, and there has never been any default in the payment of any
the rate of interest was not in conformity with the provisions of the city obligation at maturity; also the county has had no Issue of bonds contested.
charter; (5) that no provision Is made for the maturity of the bonds 40 years
E. C Cayton is County Clerk and J. S. Stallings, County Judge.
after their date of issue.
The official nottce of this bond offering will be found among the advertiseOklahoma.-Counties Cannot Issue Bonds to Purchase Seed ments
elsewhere'in this Department.
an
in
West
-General
that
state
Attorney
Wheat.-Papers
ATTALIA SCHOOL DISTRICT (P. 0. Attalia), Walla Walla County.
cannot
counties
of
Parks
that
Hooker
holds
Wash.-Bond Sale.-Reports state that the $5,500 5% 20-year building
opinion to B. W.
voted recently (V. 93, p. 119) have been purchased by the State of
issue bonds for the purpose of purchasing seed wheat for bonds
Washington.
farmers.
BAD AXE SCHOOL DISTRICT (P.O. Bad Axe), Huron County, Mich.
Bonds Voted.-The question of issuing $2,000 bldg. bonds at not exceeding
Omaha, Neb.-Election on Commission Form of Govern- 5%
int, was favorably voted upon at an election held Aug. 3. Due in not
ment.-Over 6,000 names having been signed to a petition exceeding 15 years.
BARTON (TOWN) UNION FREE SCHOOL DISTRICT NO. 7 (P. 0.
for an election to vote on the adoption of the commission
Waverly), Tioga County. N. Y.-Bond Offering.-Proposals will be received
form of government, the Mayor has decided, it is said, to until
8 p. m. Aug. 15 by A. I. Decker, Sec. Board of Educ., for $66,000
4 4% coupon building bonds. Auth. election held July 17 1911. Denom.
call such an election for September 2.
and $1,000. Date Oct. 2 1911. Int. annually at a bank in Chicago
$100
Pittsburg, Kan.-Voters Favor Municipal Ownership of or New York designated by the purchaser. Due 33,300 yearly Jan. 1 from
majority
1913
to 1932 incl. Bonds are exempt from all taxation. Cert. check for
a
in
held
recently
resulted
election
-An
Water Plant.
2% of bonds bid for, payable to the Board of Education, required. No
of 1,063 votes,in favor of the proposition to buy the plant debt at present. Assessed valuation for 1910, $2,174,147.
of the Pittsburg Water Supply Co. and in a majority of 441
BATAVIA, Claremont County, Ohio.-Bond Sale.-On Aug. 7 the
5% 1-8-year (ser.) armory-site bonds (V. 93, p. 243) were awarded
votes in favor of the plan to spend $40,000 to improve the $1,600
the Sinking Fund Trustees at par.
to
same. One account says the city proposes to buy the
BEVERLY. Essex County, Mass.-Bond Sale.-On Aug. 8 $23,000 4%
Denom,
property for $225,000, bonds to be issued in that sum. sewer bonds were awarded to Blodget & Co. of Boston at 101.688.
Date July 1 1911. Int. J. & J. Due $3,000 July 1 1912 and
while another states that the company offered to sell its $1,000.
$2,000 from 1913 to 1922 inclusive.
plant for $150,000.
BOISE CITY INDEPENDENT SCHOOL DISTRICT (P. 0. Boise City),
Ada County, Ida.-Band Sale.-On Aug. 7 the $30,000 Washington bldg.
Talladega, Ala.-Commission Plan of Government Ap- and
$20,000 Park bldg. 5% 10-20-yr.(opt.) gold coup. bonds (V.93, p. 243)
of
favor
the
proved.-The election held Aug. 5 resulted in
were awarded to the 'rhos. J. Bolger Co. of Chicago.
Mass.-Ternporaru Loan.-A loan of $1,000,000 has been.
RosroN.
plan
government
(V.
commission
93,
of
adoption of the
negotiated. It Is stated, at 2
p. 181). The vote was 215 "for" to 167 "against", it is . BRIDGETON. Cumberland County, N. J.--Bond Sale.-On Aug. 1 the
$75,000 water and $50,000 garbage 4)% 30-Yr. eoup.(with privilege of reg.)
stated. •
tax-free bonds (V. 93, p. 243) were awarded to the Cumberland Nat. Bank
basis of about 4.306%. Other bids 'follow:
United States of Mexico.-Loan.-Speyer & Co. have In Bridgeton at 103.25-a
103.17 Wurtz. Dulles & Co., Phila_ _ _102.09
B. Leach & Co., N. Y
loaned to the United States of Mexico, through its Monetary A.
Merch.trnion Trust Co., Phila.102.55 Harris, Forbes & Co., N. Y_... 101.80
Commission, $10,000,000 gold, for two years, with interest It. M. Grant & Co.. N. Y_ _102.22
CABARR US COUNTY (P. 0. Concord), No. Car.-Bond Sale.-The
at 43%, payable semi-annually from September 1st 1911, $105,000
30-year funding bonds offered but not awarded on May 9 (V. 92,
with right of redemption, at the option of the Monetary p. 1580) have been sold at private sale to Woodin, McNear & Moore of
at par and interest at any time on thirty days' Chicago as 5s. Date July 1 1911.
Commission,
424
THE CHRONICLE
EV0L. Lxxxxm.
CABOOL, Texas County, Mo.-Bond Sale.-On Aug. 7 the $9,000 6%
20-yr. water-works bonds (V. 93, p. 243) were awarded to Coffin & Crawford of Chicago for 39,168, making the price 101.844, a basis of about 5.80%.
Other bids follow:
Ulen & Co. Chicago
$9,107 Chas. S. Kidder & Co., Chic$9,007 50
C. H. Coffin,
'Chicago
9,1011Gessier&Krauswick,St.Lou. 9,000 00
CHISAGO COUNTY (P. 0. Centre City), Minn.-Certificate Sale.-On
Aug. 7 $2,000 5% 1-4-year certificates were awarded to the State Bank
of
Harris at par. Denom. $500. Date July 1 1011. Int. annually.
CLARKSBURG SCHOOL DISTRICT (P. 0. Clarksburg).
Harrison
County, W. Va.-Bands Voted.-The election held July 25 resulted in
favor of the question of issuing the $275,000 5% 10-30-yr. (opt.) school-bldg.
bonds (V. 93, p. 84).
CLEVELAND SCHOOL DISTRICT (P.O. Cleveland),
County.
Ohio.-Bond Offering.-Proposals will be received until 4Cuyahoga
p. m. Aug. 21 by
J. 0. Canfield, acting Clerk Board of Educ. for $500,000 4 A%
coupon
building and improvt. bonds. Auth. Chap.'
97 page 334,
Laws, and
Sec. 7629 and 7627, Gen. Code. Denom. $1,000. Date01110
"day of sale."
Int. F. & A. Due 20 years. Cert. check on a national bank for
5% of
bonds bid for, payable to the Treas. Board of Edue., required.
be made on blanks furnished by the district. These bonds were Bids must
previously
offered without success as 4s on July 17 (V. 93, p. 303).
CLYDE, Sandusky County, Ohio.-Bnod Sale.-On Aug.8 53,200 4J%
12-yr. water-works-ext. bonds were awardedto Seasongood & Mayer
of Cin.
for $3,217, making the price 100.531-a basis of about 4.443%.
Denom.
$500 and $200. Date June 1 1911. Int. J. & D.
COMMONWEALTH SCHOOL DISTRICT, Cal.-Description of Bonds.
The $3,000 bonds awarded to the California Nat. Bank in Santa Ana
& int.(V.92, p. 303), bear int. at 5% and are in the denom. of $500 at par
each.
CROSBY. Crow Wing County, Minn.-Bonds Voted.-An election held
recently resulted In favor of the question of issuing $16,000scho
ol bonds,
it is reported.
'DEERPARK (TOWN) UNION FREE SCHOOL DISTRICT NO. 1
0.
Port Jervis). Orange County, N. Y.-Bond Sale.-On Aug. 7 $53,000(P.
4 A7
building bonds were awarded to Spitzer, Rorick & Co. of N. Y.
at
101.673
°.
Conditional bids were also received from Farson, Son & Co.,
M. Hahn
and Harris, Forbes & Co. of N. Y. Denom. 51,000. DateGeo.
Apr. 1911.
Int. A. & 0. These bonds take the place of the issue awarded on1May
8
to Isaac W. Sherrill of Poughkeepsie (V. 92, p. 1329), which sale was not
consummated.
DORCHESTER COUNTY (P.0. Cambridge), Md.-Description ofBonds.
-The $25,000 5% 10-yr. road bonds awarded on July 25 to the Dorchester
Nat. Bank at 100.55 (not 100.62 as reported in V. 93, p. 361) are in the
denom. of $500. Int. J. & J.
DOUGLAS, Ward County. No. Dak.-Bond Offering.-Proposals will be
received until 8 p. m. Aug. 15 by the Board of Trustees for $3,000 6% refunding bonds. Denom. $500. Due 10 years. Cert. check for $50 required.
H. S. Sohrimpf Is Village Clerk.
DOUGLAS COUNTY (P. 0. Lawrence), Kans.-Bond Election.-An
election will be held in Mud Creek Drainage District on Aug. 14,
It Is
to vote on the question of issuing $4,000 6% ditch and levee building stated,
bonds.
Denom. $100. Int. semi-ann. Due $500 yearly on Sept. 1 from 1912
to
1919 incl.
EDEN (P.0. Bar Harbor), Me.-Bond Sale.-The $27,500 4% fire-engine
bonds offered on July 1 (V. 92, p. 1715) have been awarded to Perry,
Coffin
& Burr of Boston at 101.14.
1911. Int. J. & J. In Chic. Due $5,000 yearly July 1917 to
1921 incl..
88,000 July 1 1922 to 1928 incl. and 512,000 July 11 1927
to 1931 Inci.
Bond. debt, this issue. Assessed val. 1910, $4,607,297. Real
val. (est.)
$14,000,000. Population (est.) 40,000.
JAMESTOWN. Chautauqua County. N. 1L-Bond sale.-The following
bids were received on Aug. 5 for the $70,000 4 A% 1-30-year
(serial) Improvement bonds (V. 93, p. 304):
O'Connor & Kohler, N. Y...103,783 A. B. Leach & Co., N.
Y ___ _102,777
Douglas Fenwick & Co.,N.Y _103.30 Biodget & Co., New York
_ _._.102.555
John J. Hart, Albany..
_103.315 W. N. Color ec Co.N. Y_ _ _102.45
Morgan.Livermore SeCo.,N.-Y _103.12 James P.. Magoffin,
'N. Y_ _ _ _101.50
R. M. Grant & Co., N. Y__ _ _103.03
• Successful bidder.
JANESVILLE, Rock County. Wis.-Bond Sale.-Local papers
state that
an Issue of $25,000 Racine St. bridge bonds was awarded to
local investors
on Aug. 4.
JAVA (P. 0. Warsaw), Wyoming County, N. Y.-Bond
Sale.-On
July 17 the $5,000 4% 2-6-year (ser.) road bonds (V.
93, p. 182) were
awarded to the Lincoln National Bank in Rochester
at par.
JOLIET. Will.County, Ill.-Bond Sale.-On July 31 $35,000 4 A%
20year artesian-well bonds were awarded to the Harris Trust
& Savings Bank
in Chicago at 104.43 and int.-a basis of about 4.172%.
bids follow:
N. W. Halsey & Co., Chic__ _$36,441 1 John Nuveen & Co.,Other
Chicago.$35,756
A. B. Leach & Co., Chicago_ 36,420 Hanchett Bond Co., Chicago_
E.H.Rollins & Sons,Chicago_ 35,952 A.G.Edwards&Sona,St.Louls. 35,707
35,578
Farson, Son & Co., Chicago_ 33,950 C. H. Coffin, Chicago
35,501
Denom. $1,000. Date Aug. 1 1911. Int. F. Se A.
JONESBORO GRADED SCHOOL DISTRICT. Lee County, No. Car.
Bond Sale.-We are advised that the 510,000 5% 30-year coup. bldg.
bonds
mentioned in V. 93, p. 121, were awarded some time ago to C. H. Coffin
of Chicago.
KANSAS CITY, Mo.-Bond Offering.-Proposals will be received until
10 a. m. Aug. 28 by D. A. Brown, Mayor, and G. Pearson, Compt.,
for the
following coupon bonds: 525,000 4% tuberculosis hospital bonds, $60,000
4% public levee bonds, $25,000 4 A % work-house bonds, $50,000 4 A %
sewer bonds. Denom. $1,000. Date Sept. 1 1910. Int. M.
& S. at the
Treas. office or the Chase Nat. Bank in N. Y. Due Sept. 1
1930. Bids
must be made on blank forms furnished by the city and be
accompanied by a
cert. check on a nat. bank In Kansas City, Mo., for 2% of bonds
bid for.
payable to the City Comptroller. The legality of these bonds has
been approved by Dillon, Thomson & Clay of N. Y., whose opinion will
be furnished
to the purchaser. Bonds will be delivered at 10 a. in. Sept.
12 at the
Comptroller's office.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
KENNEWICK, Benton County, Wash.-New Bond Election.
--Steps are
being taken to call an election to validate
$30,000 5 A % 10-20-year
(opt.) sewer bonds sold to the Hanchett Bond the
Co.
of
Chicago
(V.
93, p. 304).
It Is said that technical errors have been discovered
in the original bonding
ordinance.
Bond Sale.-The $20,000 6% 10-20-yr. (opt.) sewer bonds
offered on
Aug. 1 (V. 93, p. 245) have been disposed of at private sale.
ELLINWOOD SCHOOL DISTRICT (P. 0. Ellinwood), Barton
KENOSHA, Kenosha County, Wis.-B ids.-The following bids
County,
were
Kan.-Bond Sale.-On July 1 $6,000 5% school-bldg. bonds
awarded received on Aug. 7 for tile 525,000 4% 5 A-yr.(aver.)"Frank School"
to the State School Fund at par. Denom. $500. Date July were
1 1911. Int. bonds (V. 93, p. 245.)
J. & J. Due $500 every six months.
First Trust & Say. Bk., Chic..98.70 IS. A. Kean & Co., Chic
98.20
Emery. Reck
ELLISVILLE. Jones County, Miss.-Bond Offerina.-Proposals will
Rockw. Chic.98.572 John Nuyeen &
hic_ _ _97.78
be N. W. Halsey &
received until Sept. 1 by II. P. Gough, City Clerk, for $10,000
& Co.
Co., Chi
Chic...._98.56
_ _98.56 E. H. Rollins & Sons,
Co.,' Chic_ _ _97.66
bldg. bonds. Denom. $500. Int. ann. at the office of the City 8% school- John E. De Wolf,
Harris
Tr.
&
Say.
Bk.,
Chic_ _97.63
Due July 11931, opt. after July 1 1916. Cert. check for $500 Depository. Con.& Cotn.Tr.& Say.Bk., Chle.98.20
required.
EVERSON. Fayette County, Pa.-Bond Offering.-Proposals will be
KENTWOOD. Tan gi pa hoa Parish, La.-Bonds Voted.-The proposition
received until 8 p. m. Aug. 28 by R. Grove, Borough
to
issue
the
$50,000
5% water bonds (V.93,p. 304) carried by a vote of
Clerk, for $15,000
5% coup,sewer bonds, 1911, Series "A." Anti'. election held Apr.
4 1911. 69 to 18 at the election held on Aug. 1.
Denom. $1,000. Date Aug. 1 1911. Int. F. & A. at the
KINGSLEY INDEPENDENT SCHOOL DISTRICT (P. 0.
Nat.
Bank at Scottdaie. Due Aug. 1 1941, opt. after 1926. Broadway
Kingsley),
Plymouth County, lowa.-Bond Sale.-E. II. Rollins & Sons of
Cert.
Chicago
$1,000, payable to the Borough Clerk, required. No debt atcheck for and the Investors' Securities
Co. of Des Moines have Jointly been awarded
present.
Assessed valuation, $243,395.
private
sale the 529,000 5% 9-yr. (ay.) bonds offered on Juno 12
at
(V. 92,
FALLON. Churchill County, Nev.-Bond Sale.-On Aug. 1 the $10,000 p. 1581). The price paid was 102.586 and int., a basis of about 4.646%.
sewer and $35,000 water-works 6% coup. bonds (V. 93, p. 182)
KIRKSVILLE. Adair County. Mo.-Bonds Voted.-It is stated that the
were
awarded to the Nixon Nat. Bank in Reno at par and int. A bid was
also election held July 24 resulted in favor of the question of issuing the 517,000
received from 0. H. Coffin of Chicago.
sewer bonds (V. 93, p. 245).
FREMONT, Sandusky County, Ohio.-Bond Sale.-On Aug. 7 the
KIRKWOOD, Saint Louis County, Mo.-Bond Election.-A
vote will be
$12,000 4 A% 6;4-year (ay.) coup. Lynn St. impt. assess. bonds (V. 93, D. taken on Aug. 19, it is stated,
on the question of issuing $10,000 light and
244) were awarded to the Fremont Savings Bank Co. In Fremont for $12,170 water improvement bonds.
(101.416) and Int.-a basis of about 4.249%. Other bids follow:
LAKEWOOD, Cuyahoga County. Ohio.-Bond Offering.-Proposals will
Seasongood & Mayer, Cino__$12,1901New First Nat. Bank,
be received until 12 m. Sept. 6 by II. M. Cook, City Clerk, for the following
Well, Roth & Co., Cine
12,140 Otis & Hough, Cleve Colum..$112:0
215
137 5% street-impt. assessment bonds:
GALVESTON COUNTY (P.0. Galveston),Tex.-PrIce Paid for Bonds.
- $11,400 Ifird St. bonds. Denom. $1,140. Due $1,140 yriy. Oct. 1 from
The price paid for the $500,000 5% 20-10-yr. (opt.) coup, bridge bonds
1912 to 1921 incl.
.
awarded on July 26 to Spitzer, Itorick & Co. of Toledo (V. 93, p. 361)
9,100 Beach Ave. bonds. Denom. $910. Duo $910 yrly. Oct. 1 from
was
par and int.. we are advised by the purchaser.
1912 to 1921 incl.
GARDEN CITY. Finney County, Kans.-Bonds Voted.-The proposition
Date "day of sale." Int. semi-ann. at the Cleveland Trust Co. in Cleve$3 issue the $40.000 electric-light bonds (V. 93, pfl82),
at not exceeding land. Certified cheek for 5% of bid required.
8% int., carried by a vote of 329 to 208 at the election held Aug.
1.
LARAMIE, Albany County, Wyo.-Bond Sals.-11. H. Rollins & Sons
GLENDALE SCHOOL DISTRICT. Los Angeles County, Cal.-Bond of Denver were awarded at 100.61 and int., a basis of about 4.922%
to
0/Jer4ng.-Proposalq will be received until 2 p. in. Aug. 21, it Is stated,
opt.
date and 1.95% to full maturity, the 515,000 5% 10-20-yr. (opt.) sewer
the Board of Supervisors for the 540,000 5% school bonds voted Julyby bonds offered on Aug. 1 (V. 91, p. 1328).
1
.
(V. 93, p. 182). Denom. $1,000.
Other bids follow:
GRAND FORKS. Grand Forks County. No. Dak.-Bonds Voted.-An Harris Tr. & Say. Bk., Chic...515,133 & int. & blank bds.(no cert. check.)
Hanchett Bond Co., Chic__ 15,107 & int. & blank bonds.
election held Aug. 1 resulted in favor of a proposition to issue $25,000
(Ire.
A. B. Leach & Co.,
___ 15,083 and int.
hall bonds, according to reports. The vote was 197 to 9.
Lawr. Barnum & Co.,
N.Y__ 15,055 50 and int.
ChicORANGEVILLE, Idaho County. Ida.-Bond Sale.-On July 21 $18,- D
AI,viecin
c
ylo.tt, Tremble & Co.,Den.__ 15,025 and int.
322 45 6% 20-year municipal bonds were awarded to the Hanchett Bond
E
y .d:
Sw
ce
oet, c
&hC
ico., Deny__ 15,016 and Int.
Co. in Chicago. Int. J. & J.
15,015 and int.
GREENE AND LAWRENCE COUNTIES DRAINAGE DISTRICT. S. A. Kean & Co., Chic
15,005 and lilt.
.Ark.-Bond Sale.-Reports state the State National Bank of Little flock N.W
V. Halsey & Co., Chic
15,000 and Int., less $100 expenses.
was awarded an issue of $260,000 6% 16-20-year drainage bonds on July 29. Mary Hollinrake, Laramie....- 1,000 and int.
Int. semi-annual.
First State Bank, Laramie. _. 1,000.
A bid was also received from the Thos. J. Bolger Co.. of Chic. Denom.
GREENVILLE COUNTY (P. 0. Greenville). So. Caro.-Bonds Defeated.-The proposition to issue the $100,000 court-house
$500. Int. J. & J.
bonds
(V.
92,
p. 1054) was defeated, it is stated, at the election held Aug. 8.
LAWTON, Comanche County, Okla.-Bond Offering.-Proposals will be
HASTINGS. Barry County. Mich.-Bonds lie-Voted.
to some received until 8 p. in. Aug. 31 (postponed from Aug. 14) for $70,000
discrepancies In the ballot used at the election of April 3 on-Owlng
57 coupon (with privilege of registration) funding bonds. Denomination
the
to issue the $120,000 electric-light plant bonds (V. 92, p. 1054),proposition
$1°
,000. Date Aug. 14 1911. Interest F. & A. at the State fiscal agency
was re-submitted on July 17. and carried by a vote of 472 to 268. the matter In New York, Due Aug. 14 1936. Certified
cheek (or cash) for 51,000
HASTINGS. Adams County, Nob.-Bond Offering.-Proposals will be is required. Bonds have been approved by the State Auditor and
received until 5 p. m. Aug. 14 by A. T. Bratton, City Clerk, for $15,000 Attorney-Gen., ex-officio Bond Corn. Official circular states that there is
(or less at opt. of city) Paving Dist. No. 8 bonds at not exceeding 77 int. no litigation or controversy pending or threatened affecting the corporate
existence
Denotn. $300. Date Aug. 28 1911. Due 10 yr., opt. at any time.
boundaries of the city or the title of its present officials to their
°Cert. respectiveor
check for 3% of bid is required.
offices, or the validity of these bonds. Int. and prin. has always
HIGHLAND PARK PUBLIC SCHOOL DISTRICT (P. O. Highland been promptly paid when due. Bonds have never been contested.
Park). Wayne County, Mich.-Bond Offertna.-Proposals will be received
LECOMPTON, Douglas County. Kan.-Bond Election.-An election will
until 8 p. in. Aug. 24 by W.S. Conley, Secy. Bd. of Bd., for $23,000
be held Aug. 15 to vote on the question of issuing approximately $2,000
school electric-light
bonds. Bids are requested at both 4% and 4 A% interest. Denom.
bonds, it is stated.
51,000.
Due 15 years. Cert. check for $700, payable to the Dist. Treas., required.
LEXINGTON. Hohnes County. Miss.-Bond Sale.-On Aug. 1 the $41,Purchaser must furnish bonds and coupons ready for execution.
500 water and $21,000 sewer 5% bonds (V. 93, p. 245) were awarded to the
An
abstract of proceedings will be furnished by the district.
Merchants' & Farmers' Bank /de Trust Co. at par. Dcnom. $500. Date
HOUSTON, Harris County, Tex.-Bond Offering.-Proposals will be Aug. 1 1911. Interest F. & A.
received until 12 m. Sept. 11 by this city, reports state, for the $500,000
LINTON, Green County, Ind.-Bond 5ale.-00Aug. 4 the $10,000 5%
4 A% school-building and improvement bonds voted May 23(V.92. p. 1515) 20-year
coupon municipal bonds (V. 93, p. 3041 were awarded to E. M.
, Int. semi-ann. at the Union Trust Co. in N .Y. Due 30 years,
opt. after 20 Campbell Se Co. of Indianapolis. Other bids were received from G. L.
years. Cert. check on a Houston bank for 1% of bonds, payable to the Payne & Co. J. F. Wild & Co.,
Miller, Adams & Co., Breed & Harrison
Mayor, required.
and S. A. Roan
' & Co.
•
PtAINDIANAPOLIS SCHOOL DISTRICT (P. 0. Indianapolis), Marion
LOGAN COUNTY (P. 0..Belletontaine), Ohio.-Bond Offering.-The
County, Ind.-Bond Sale.-On Aug. 8 the $125,000 47 35-yr. coup. bldg. County
Commissioners will offer for sale on Aug. 21 $15,000 road-building
bonds (V. 93, p. 182) were awarded to the Meyer-Riser Bankin Indianapo- bonds, according to reports.
.
lis at 105.65-a basis of about 3 711%. Other bids follow:
LOTf,
, FALLS COUNTY, Tcx.-Bond Offering.-Proposals will be reJ. T. Elliott & Sons, Ind_ _ _5130,5051E. M. Campbell & Sons
Co..
ceived until 8 p. m. Aug. 17 by A. B. Hemphill, Mayor, for the $14,000 5%
Indiana Trust Co. Indianap. 130,4501 Indianapolis
$130,125 water-works bonds voted recently (V. 92, p. 1193). Denom.
J.)F. Wild &Co.'India
$500. Date
'
nan_ 130,312IGerman-Am. Tr. Co., Ind- __127,975 June
11911. Due 40 yrs., opt. after 20 yrs. Cert. check1for,5300 required.
Interest is payable in January and July.
LOWELL. Middlesex County, Mass.-Bond Sale.-On Aug. 11 5100,000
IRVING PARK (Sta. Chicago). III.-Bonds Offered by Bankers.-The 4%
water bonds were awarded, reports state, to Adams & Co. of Boston a
Northern Trust Co. and Alierton, Greene & King of Chic. afe offering to
101.811-a basis of about 3H1. Date Aug, 1 1911. Int, F. 40 A. Duo
investors $125,000 43,4% small-park bonds.
enom. $1,000. Date July 1 810,000
yearly from 1912 to 1021 inclusive.AMASS 11213111.1i1
•:it,:ii!i
1_ VW
AUG. 12 1911.]
THE CHRONICLE
MARION COUNTY (P. 0. Marion), Ohio-Bond Sale.-On Aug. 8 the
$26,500 5% coup. road bonds (V. 93, p. 245) were awarded to the New
First Nat. Bank)n Col. for $26,817 (101.196) and interest.
MARS. Butler County, Pa.-Bond Sale.-The $10,000 4 H% tax-free
n June 1a0t(pVar9a2iidp.. 1,516) have been awarded
re
nton
le
alyserNbaoadnsacMa
gutr
enf
un
MISSISSIPPI COUNTY DRAINAGE DISTRICT NO. 23, Mo.-Bond
Sale.-On Aug. 7 the $240,000 6% coup. drain, tax bonds (V. 93, p. 66)
were awarded to Edw. G. Rolwing of Charleston. Other bids follow:
Wm. R. Compton Co.,St.L_5248,500
_)
Francis Bros. & Co., St. L_.$249,700
246,175
Little & Hays Inv. Co.,St.L. 249,550 McCoy & Co., Chicago
246,100
249,525 Merchants' Tr. Co., St. L
_
New First Nat. Bk., Col__
Charleston_
Deal,
246,000
J.
E.
A. G. Edwards & Sons, St. L.248,860
1Hoehler,& Cummings,Toledo 244,141
MONONA COUNTY (P. 0. Onawa), Iowa.-Bond Sale.-On Aug. 1
$7,500 6% drainage bonds were awarded to Wm. R. Compton Co. of St.
Louis at 101.06. Denom. $500. Date Aug. 11911. Int. semi-ann. Due
one-fifth yearly. A conditional bid of 101.82 was also received from
,
S. A. Kean & Co. of Chicago.
MONTPELIER. Williams County. Ohlo.-Bond Offering.-Proposals
stated,
for
$22,742 96 5% street-impt.
is
26,
it
Aug.
will be received until
bonds. Due from 1912 to 1921.
DISTRICT
(P. 0. Moran), Shackle.'
MORAN INDEPENDENT SCHOOL
district on July 29 voted favorably
ford County. Tex.-Bonds Voted.-This
bonds.
In
April
school-house
$10,000 bonds were
issue
to
piroposition
on a
voted, but it is said that this election was irregular. V.92, p. 1056.
Caro.
-Bond
No.
-Proposals
Offering.
County,
• MOUNT OLIVE, Wayne
will be received until 5 p. m.Sept. 5 by C. W.Oliver, Chairman Water Committee, for $12.000 6% coup. water-works bonds. Denom. $500. Date
Oct. 1 1911. Int. Oct. Due Oct. 1 1931. Cert. check for 5% of bid
required.
MT. TAMALPAIS UNION HIGH SCHOOL DISTRICT. CAL.-DescriPlion of Bonds.-The $35,000 school bonds awarded to J. H. Adams & Co. of
San Francisco at 106.71 (V. 93, p. 305) bear int, at the rate of 5% and are in
denom. of $1,000 and $500. Date July 17 1911. Int. annually. Due
1921 to 1950.
NEW RIVER DRAINAGE DISTRICT, Assumption Parish. La.-Bonds
Veted.--Reports from Donaldsville state that an election held Aug. 1 resulted in favor of the proposition to issue $175,000 5% bonds.
NEW YORK CITY.-Loans.-During the month of Jaly this city issued
the following revenue bonds and notes:
Interest.
Amount.
3M
2.0
0
$600
1:000
Revenue bonds, current expenses
3 /A
Revenue bonds, current expenses
3 M,
500,000
Revenue bonds, current expenses
3 M,
*3,687,367
Revenue bonds, current expenses
3
5,550,000
' Revenue bonds, current expenses
3%
200,000
Revenue bonds, special
3 yi
1,000,000
Corporate stock notes (various municipal purposes) _
200,000
Corporate stock notes (various municipal purposes)_ _ 3
$13,198,367
Total
• Payable in £ sterling.
NIAGARA FALLS. Niagara County, N. Y.-Bond Sale.-On July 24 the
$360,000 4 M % 30-33-year (serial) water and $6,000 4 %% 20-year bridge
bonds (V.93, p. 183) were awarded to Kountze Bros of N. Y.at 102.327.
425
NILES. Trumbull County, Ohio.-Bond Offering.-Proposals will be
received until 2 p. m. Aug. 31 by H. Thomas, City Aud., for $16,975 4%
Vienna St. impt. assess. bonds. Auth. Sec. 95, Municipal Code. Denom.
$500 and $475. Date Aug. 15 1911. Int. F. & A. Due on Aug. 15 as
follows: $3,000 in 1912 and 1913, $3,500 in 1914 and 1915 and $3,975 in
1916. Bonds to be paid for within 10 days from time of award. Purchaser
to pay accrued int. Cert. check for 2% of bonds bid for, payable to the
City Treasurer, required.
NORTH ARLINGTON SCHOOL DISTRICT (P. 0. Arlington), N. J.Bond Sale.-The West Hudson County Trust Co. of Harrison has been
awarded for $22,520 (100.088) and int. the $22,500 43.4% bldg. bonds (V.
93. P. 67). Denom. $500 and $1,000. Int. J. &J. Due $500 Jan. 1 1912
and $1,000 Jan. 1 1913 to 1934 incl.
NORTH BERGEN, Hudson County, N. J.-Bond Offering.-Proposals
will be received until 8 p. in. Aug. 17 by P. A. Brady, Township Clerk
(P. 0. Weehawken), for $174,000 5% 30-year coupon (with priv. of reg.)
sinking fund bonds. Denom. $1,000. Date June 1 1911. Int. J. & D.
Purchaser to pay accrued int. Cert. check for $5,000, payable to F. Sternkopf, Treas., is required. Bids must be unconditional.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
OAKHURST SCHOOL DISTRICT, Cal.-Description of Bonds.-The
$2,200 school bonds awarded on July 7 to J. H. Adams & Co. of Los Angeles at 100.227 (V. 93, p. 304) bear int. at 6% and are in denom. of $440.
Date July 3 1911. Int. J. & J. Due 1917 to 1921.
OCEAN CITY. Cape May County, N. J.-Bond Sale.-On Aug. 7 the
$50,000 5% 30-year coupon (with priv. of reg.) funding bonds (V.93, p.304)•
were awarded.to Geo. S. Fox & Son of Phila. at 102.07.
Other bids follow:
S. A. Kean & Co., Chicago__•102.101First Nat. Bank, Ocean City__102.00
Henry & West, Philadelphia_ _102.011R. M. Grant & Co.. N. Y_ _ _ _101.05
s'Conditional bid.
ODEBOLT. Sac County, lowa.-Bond Sale.-We are advised by the
Town Clerk that an issue of $8,300 5% 20-year fire-station bonds has been
sold. Auth. vote of 143 to 46 at an election held July 31.
OMAHA, Neb.-Vote.-The vote cast at the election held Aug. 2 on the
question of issuing the $8,250,000 30-yr. bonds at not exceeding 434%
(V. 93, p. 383), for the purchase and impt. of the plant of the Omaha Water
Co., was 7.348 "for" to 658 "against."
ONEIDA, Madison County, N. Y.-Bond Offering.-Proposals will be
received until 5 p. m. Aug. 23 by D.J. Covell, City Clerk, for $43.000 4K%
reg. school bonds, Series "VV." Auth. Sec. 160, Chap. 225, Laws of 1901.
and Sec. 250 of New Rev. City Charter; also vote of 207 to 147 at an election
held Jan. 11 1910. Denom. $1,000. Date Aug. 15 1911. Int. F. & A. at
Oneida or New York. Due $3,000 yriy. Aug. 15 from 1919 to 1931 incl. and
$2.000 Aug. 15 in 1932 and 1933. Cert. check for 23.4% of bid required.
Official circular states that there is no controversy or litigation pending or
threatened affecting the corporate existence or the boundaries of the municipality, the title of its present officials to their respective offices or the
validity of its bonds; also that principal and interest of all bonds previously
issued have been promptly paid at maturity and no previous issue of bonds
has been contested.
OSWEGO. Oswego County, N. Y.-Bond Offering.-Proposals will be received until 12 m. Aug. 18 by J. Fitzgibbons, Mayor, for $45,000
% reg.
school bonds. Date Aug. 15 1911. Int. F. & A. at the City Chamber-
NEW LOANS.
CITY OF MEMPHIS, TENNESSEE
$661,000
$150,000
$300,000
Street Improvement Bonds
Normal School Bonds
Street Improvement Bonds, &o.
Notice is hereby given that sealed bids will be
received by Ennis M. Douglass, City Clerk of the
City of Memphis, Tennessee, at the City Hall in
Memphis, Tennessee, until 2:30 o'clock p. m.,
TUESDAY. AUGUST 22 1911,
for the sale of $661,000 of general liability bonds.
for street improvements of the City of Memphis,
Tennessee. Said bonds will be dated August 1
1911. One-fifth of said bonds shall mature in one
year, one-fifth in two years. one-fifth in three
years, one-fifth in four years and one-fifth in five
years from their date,without option of prior redemption, and they will bear interest at the rate
of 6 per cent per annum, payable on the first days
of February and August in each year; bonds and
coupons payable in Memphis, Tennessee, or in the
City of New York, at the option of the holder
thereof. No bid for less than par and accrued
Interest will be entertained, and the city reserves
the right to reject any and all bids. Each bid
must be for the entire $681.000 bonds, accompanted by a certified check for $5,000, payable to
the order of the City of Memphis, as a guaranty
of good faith on the part of the bidder, said check
to be certified by some Memphis bank. Said
cheek of the successful bidder shall be retained
by the city as and for liquidated damages upon
failure of such bidder to accept and pay for bonds.
Checks will be returned to unsuccessful bidders.
The bonds to be delivered and paid for in the City
of Memphis. The legality of these bonds has been
approved by Dillon, Thomson &Clay of New York,
a copy of whose opinion will be furnished to the
successful bidder. For further information apply
to the undersigned.
E. H. CRUMP. Mayor.
Attest: ENNIS M. DOUGLASS, City Clerk.
This July 28 1911.
Notice is hereby given that sealed bids will be
received by Ennis M. Douglass, City Clerk of the
City of Memphis, Tenn., at the city hall in Memphis, Tenn., until 2:30 o'clock p. m.,
TUESDAY. AUG. 22 1911,
for the sale of $150,000 Normal School bonds, the
proceeds of said bonds to be used for the purpose
of purchasing a site, erecting and equipping buildings for the State Normal School in Shelby County
within four miles of the city limits of Memphis,
Tenn. Said bonds will be dated Aug. 1 1911,
payable Aug. 1 1936, without option of prior payment, bearing 4 34 per cent interest per annum,
payable Feb. 1 and Aug. 1, respectively. Bonds
and coupons payable in Memphis, Tenn.. or in
New York City, at the option of the holder thereof.
No bids for less than par and accrued interest will
be entertained, and the city reserves the right to
reject any and all bids. Each bid must be for the
entire $150,000, all bids accompanied by a certified
check for $1,500, payable to the order of the City
of Memphis, as a guaranty of good faith on the
part of the bidder, such check to be certified by
some Memphis bank. Said check of the successful
bidder shall be retained by the city as and for
liquidated damages upon the failure of such bidder
to accept and pay for the bonds. Checks will be
returned to unsuccessful bidders. The bonds are
to be delivered and paid for in the City of Memphis.
The legality of these bonds has been approved
by Dillon, Thomson & Clay of New York City, a
copy of whose opinion will be furnished to the
successful bidder. For further information apply
to the undersigned.
E. H. CRUMP, Mayor.
Attest: ENNIS M. DOUGLASS, City Clerk.
This July 28 1911.
Notice is hereby given that sealed bids will be
received by Ennis M. Douglass. City Clerk of the
City of Memphis, Tennessee, at the City Hall in
Memphis. Tennessee, until 2:30 o'clock p m.,
TUESDAY. AUGUST 22D 1911.
for the sale of $300,000 of general liability bonds
for the improvement of streets, alleys and highways of said city, and for separating the grades
of certain streets from the grades of certain commercial railroads and for building sewers in the
City of Memphis, Tennessee. Said bonds will be
dated August 1st 1911, payable August 1st 1946,
without option of prior payment, bearing 43.4%
Interest per annum, payable February 1st and
August 1st. respectively, bonds and coupons
payable in Memphis, Tennessee, or in the City of
New York, at the option of the holder thereof.
No bid for less than par and accrued interest will
be entertained, and the city reserves the right to
reject any and all bids. Each bid must be for
the entire $300,000, all bids accompanied by a
certified check for $3,000, payable to the order
of the City of Memphis. as a guaranty of good
faith on the part of the bidder; such check to be
certified by some Memphis bank. Said check of
the successful bidder shall be retained by the city
as and for liquidated damages upon the failure
of such bidder to accept and pay for the bonds.
Checks will be returned to unsuccessful bidders.
The bonds are to be delivered and paid for in the
City of Memphis. The legality of these bonds
has been approved by Dillon. Thomson & Clay
of New York City, a copy of whose opinion will
be furnished to the successful bidder. For further
Information apply to the undersigned.
E. H. CRUMP, Mayor.
Attest: ENNIS M. DOUGLASS, City Clerk.
This July 28th 1911.
$100,000
$700,000
MERRICK COUNTY, NEB.,
MACON, GEORGIA,
(P. 0. Central City, Nehr )
Water-Works Bonds
COURT-HOUSE BONDS
Sealed7bids to be received by A. R. Tinsley,
Treasurer.E,City of Macon, Ga., up to noon of
SEPTEMBER 4 1911.
to be"publielyropened by the Mayor and Council
in open Council on the 5th day of September 1911.
Certified check for $1,000 to accompany each
bid.
City reserves the right to reject any and all bids.
Bonds to be delivered to purchaser at the office
of the City Treasurer, Macon, Ga., on Saturday,
September 30th 1911.
Note.-This sale is for $700,000, numbered
from 1 to 700, inclusive, the remaining $200,000
to be sold at a later date.
For full information apply to
A. R. TINSLEY, Treasurer.
Macon, Ga.
Sealed proposals will be received by F. R.
Nash. County Clerk, until AUGUST 19,_1911.
12 M., for the purchase of $100,000 Merrick
County Registered 4% 20-year Court-House
bonds.
Denomination 41.000 each
Dated July 1, 1911.
Interest payable semi-annually at the office
State Treasurer, Lincoln, Nebr.
Not negotiable at let's than par.
Optional after issuance.
Assessed valuation $4,366,721.
Actual value (estimated), $10,000,000.
No other indebtedness.
Certified check of 1% required with bid.
Charles M. Smith & Cu.
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
HODENPYL, HARDY & CO.
7 Wall St.. New York
Railroad, Street Ry., Gas & Elec. Light
SECURITIES
THE CHRONICLE
426
lain's office. • Due $4,500 yriy. Aug. 15 from 1912 to 1921 incl. Cert.
checkfon an incorporated bank or trust company for 2% of bonds bid for,
payable to the City Chamberlain, required.
• OTTAWA SCHOOL DISTRICT NO. 141 (P.0. Ottawa), La Salle County,
III.-Bond Offering.-Proposals will be received until 12 m. Aug. 14 by
H. L. Arnold, Sec. Bd. of Ed.,for the 545,000 4% reg. school-bldg. bonds
voted June 24 (V. 93, p. 67). Denom. $1,000. Date Oct. 1 1911. Int.
ann. at the Dist. Treas. office. Due $3,000 yearly Oct. 1 from 1912 to
1926 incl. Cert. check for 3% of bid, payable to the Bd. of Ed., required.
Official circular states that there is no controversy or litigation pending or
threatened affecting the corporate existence of boundaries of district or
validity of bonds; also that principal and interest on all previous issues have
always been promptly paid at maturity and no previous issues have ever
been contested. Purchaser to furnish bonds free of cost.
PERHAM, Ottertail County, Minn.-Bond Offering.-Proposals will be
received until 8 p. m. Aug. 24 (date changed from Aug. 17) by C. C. Dirkes,
Vii. Recorder, for the 510,000 5% coup. tax-free refunding bonds (V. 93,
p. 363). Auth. vote of 60 to 14 at the election held July 17. Denom.
$1,000. Date Sept. 1 1911. Int. M. & S. In Perham. Due 1926. Cert.
check for 5%, payable to the Vii. Recorder, required. Purchaser required
to furnish blank bonds. No bonded debt at present. Floating debt
$10,000. Assessed valuation, 5257,000.
PLACENTIA SCHOOL DISTRICT, Cal.-Bonds Voted.-An election
held July 29 resulted, it is reported, in a vote of 86 to 13 in favor of a proposition to issue $44,000 grammar-school bonds.
PLUMMER SCHOOL DISTRICT NO. 741, Ida.-Bond Sale.-On July 3
55,000 6% 2-10-year (opt.) bldg. bonds were awarded to the State Bank of
Plummer at par. Denom. 5500. Date July 1 1911. Int. J. & J.
QUINCY. Norfolk County, Mass.-Bond Offering.-Proposals will be
received until 12 m. Aug. 15 by J. Curtis, City Treas., for $52,100 4%
street and sidewalk loan bonds of 1911. Denom. 51 bonds of $1,000 each,
1 bond of $530 and 1 bond of $570. Date July 1 1911. Int. J. & J. in
Boston. Due on July 1 as follows: $8,100 in 1912, 57,000 yearly from 1.913
to 1915 incl., $5,000 yearly from 1916 to 1918 incl., $4,000 in 1919, 53,000
In 1920 and $1,000 in 1921. The bonds will be certified as to genuineness
by the Old Colony Trust Co., which will further certify that the legality of
this issue has been approved by Ropes, Gray & Gorham of Boston, a copy
of whose opinion will accompany the bonds when delivered, without charge
to the purchaser.
• RAVENNA SCHOOL DISTRICT (P. 0. Ravenna). Muskegon Couity,
Mich.-Bonds Voted.-An election held recently, it is stated, resulted in
favor of the question of issuing $10,000 bldg. bonds.
• REDONDO SCHOOL DISTRICT, Los Angeles County, Cal.-Bond Offering.-Proposals will be received until 2 p. m. Aug. 21, it is reported, by the
Bd. of Supervisors, for the $75,000 5% school bonds voted July 10 (V. 93,
p. 305). Denom. $1,000.
REEDLEY JOINT SCHOOL DISTRICT, Fresno and Tulare Counties,
Cal -Description of Bonds.-The $30,000 bonds recently awarded to Wm.
It. Stoats & Co. of Pasadena at 102.44 (V. 93. p. 305) bear int. at 5% and
are in denom. of $1,000 each. Date July 3 1911. Int. ann. Due $2,000
yearly from 1921 to 1935 incl.
ROANE COUNTY (P.O. Kingston), Tenn.-Bond Sale.-On July 3 the
$45,000 20-yr. coup. fund. bonds (V. 93, p. 67) were awarded to John Nu,
veen & Co. of Chicago for $45,625, making the price 101.388.
ROCKFORD, Winnebago County, 111.-Bond Sale.-On Aug. 7 511,900
4% 20-yr. ref, bonds were awarded to N. W. Halsey & Co. of Chicago at
par less,5117 for expenses. Other bids follow:
A. B. Leach & Co., Chicago-Par less $231 for expenses.
Wm.H. Compton Co., St. Louis-Par less $347 for expenses.
Denom $1,000 and $900. Date Sept. 16 1911. Int. M. & S.
RONCEVERTE, Greenbrier County. W. Va.
,
-Bond Sale.-On July 31
the $8,500 street-impt. and $7,500 water 6% 30-yr. comp. (city's portion)
bonds (V. 93, p. 248) were awarded to Seasongood & Mayer of Cinc. for
$17,373, making the price 108.581, a basis of about 5.418%.
RUTHERFORD SCHOOL DISTRICT (P. 0. Rutherford), Bergen
County, N. J.-Bond Offering.-Proposals will be received until 8:15 p. m.
Aug. 14 by C. P. Perham, District Clerk, for $19,300 4 A % coupon (with
priv. of reg.) school-impt. bonds. Denom. *1,000, $800 and $500. Date
Aug. 1 1911. Int. F. & A. at the Rutherford Nat. Bank at Rutherford.
Due Aug. 1 1951. Bonds are exempt from taxation. No deposit required.
SAINT ALBANS. Franklin County, Vt.-Btds Rejected.-All bids received on Aug.7 for the $15,000 6-8-year (ser.) street and $35,000 10-16-year
(ser.) school 4% coupon bonds (V. 93, p. 363) were rejected, it is stated.
ST. LOUIS, Mo.-Bonds Proposed.-This city proposes to issue and sell in
October $1,700,000 4% 20-yr. water-works-renewal bonds, to be dated
Nov. 1 1911.
SALEM, Columbiana County, Ohio.-Bond Sale.-Hayden, Miller & Co.
of Cleveland were awarded on Aug. 1 at 103.102 the $17,470 4 A % funding
bonds due April 1 1921
V. 93, p. 363.
SALEM SCHOOL DISTRICT (P. 0. Salem), Roanoke County, Va.Bond Offering.-Proposals will be received until Aug. 20 by J. S. Persinger.
District Clerk, for $17,000 5% coupon school bonds. Date Sept. 1 1911.
Int. M. Fe S. at the County Treas. office. Due 20 years, opt. after 15 years.
Cert. check for $250 required.
SANDUSKY, Sanilac County, Mich.-Bonds Voted.-An election held
July 31 resulted In favor of the proposition to issue $8,000 water and light
bonds, It is stated.
SANDUSKY COUNTY (P. 0. Fremont), Ohio.-Bond Sale.-On Aug. 5
the five issues of 4 A % coupon road bonds, aggregating $92,100 (V. 93,
p. 305), were awarded: four issues, aggregating $77,100, to Seasongood &
Mayer of Chicinnati for 577,495 (100.512) and $15,000 to the Croghan
Bank & Savings Co. in Fremont for $15,071 (100.473). Other bids follow:
New First Nat. Bank, C0l_$92,495 50 Well, Roth & Co., Cincin_$92,267 15
Tillotson &Wolcott Co.,Clev 92,350 06 I
SANDUSKY TOWNSHIP, Richland County, Ohio.-Bonds Not Sold.The $15,000 4 A % 9 2-5-yr. (ay.) coup. road bonds offered on July 8
(V. 03, p. 1658) have not been sold, we are advised under date of Aug. 8.
SCOTLAND, Bonhomme County, So. Dak.-Bond Sale.-On July 31 the
35,00 5-20-yr. (opt.) water bonds (V. 93, p. 305) were awarded to the
H. C. Speer & Sons Co. of Chicago at par less $150 for attorneys fees, &c.
Other bids follow:
Hanchett Bond Co., Chicago-55,000 less $207 for expenses.
C. H. Coffin, Chicago-$5,001 less $251 for expenses.
SCRANTON, Lackawanna County, Pa.-Bond Offering.-Proposals will
be received until 12 in. Aug. 16 by J. von Bergen Jr., Mayor, for the $210,000 4%% coup. or reg. judgment-funding 3d. Series bonds (V. 93, p. 68).
Denom. $1,000. Date Aug. 1 1911. Int. F. & A. at City Treas. office.
Due $7,000 yriy. Aug. 1, from 1912 to 1941, incl. Bonds are exempt from
State tax, the payment of which is assumed by the City of Scranton. These
bonds will be guaranteed as to genuineness and certified to by the U. S.
Mtge. & Trust Co., N. Y., and their legality approved by Caldwell, Massitch & Reed of New York, whose favorable opinion will be furnished to the
purchaser. Cert. check for $2,000 on an incorporated bank or trust company required.
NEW LOANS.
NEW LOANS.'
$160,000
$174,000
KANSAS CITY, MISSOURI,
BONDS
Sealed proposals will be received by the undersigned, the Mayor and City Comptroller of Kansas
City, Missouri, until AUGUST 28TH, 1911, at
10 O'CLOCK A. M., for the purchase of all or any
part of the following-named bonds of the City of
Kansas City, Missouri, In the following-named
amounts:
CLASS A.
525,000.00
Tuberculosis Hospital Bonds_
CLASS B.
60,000.00
Public Levee Bonds
25,000.00
Workhouse Bonds
50,000.00
Kansas City Sewer Bonds
6.4
$160,000.00
•
Class "A" bonds bear interest at the rate of
4 per cent per annum. Class "B" bonds bear interest at the rate of 454 per cent per annum. All
of these bonds are of the denomination of $1,000.00
each, dated September 1st, 1910, to mature September 1st, 1930. Interest payable at the office
of the City Treasurer of Kansas City, Missouri,
or at the Chase National Bank in the City and
State of New York, at the option of the holder.
The March and September, 1911, coupons will be
detached from said bands before delivery and
will not be sold.
No. bid will be recet zed which is in whole or in
part less than par.
The legality of the bonds will be approved by
Messrs. Dillon, Thomson & Clay of New York,
whose opinion as to the legality, or duplicate
thereof, will be delivered to the purchaser or
purchasers of said bonds.
Each bid must be made on a blank form furnished by the city, and must be accompanied by
a duly certified check on a National Bank doing
business in Kansas City, Missouri, payable to the
order of the City Comptroller, of Kansas City,
Mi_souri, for 2 per cent of the par value of the
bonds bid for. The right is reserved to reject any
and all bids.
Delivery of the bonds will be made on Tuesday,
September 12th, 1911, at 10 o'clock A. M., at the
office of the City Comptroller of Kansas City,
Missouri. Bids will be received at the office of
the Mayor of Kansas City, Missouri, in the city
hall in said city, but no bid will be entitled to consideration unless received by or before the hour
above set for receiving bids.
Printed circulars containing more definite and
detailed information with reference to said bonds,
and blank forms for bids, can be had on application to the City Comptroller of Kansas City, Missouri, or to Messrs. Dillon, Thomson & Clay of
New York.
DARIUS A. BROWN,
Mayor of Kansas City, Missouri.
GUS PEARSON,
Comptroller of Kansas City, Missouri.
SEASONGOOD lit MAYER
Ingalls Building
CINCINNATI
$60,000
Hudson County, New Jersey.
COURT HOUSE BONDS
Proposals for 5% Sinking Fund Bonds
Claude, Texas, August 1st, 1911.
The following bonds, issued by Armstrong
County, Texas, dated May 15th, 1911, for the
purpose of erecting a county court house are
offered for sale to the highest secure bidder.
The total issue of said bonds is $60,000, due
forty years from date, with option of redemption
after five years from their date, of the denomination of $500 each, numbered from 1 to 120 inclusive, interest 5% per annum, Interest payable
annually on the 10th of April of each year,
payable at the Hanover National Bank in New
York City, or at the office of the State Treasurer
at Austin, Texas, or at the office of the County
Treasurer, Claude, Texas. Sealed bids for these
bonds will be received until MONDAY. SEPTEMBER 11TH, 1911, at 1:30 P. M. Deposits of
$3,000 will be required to be made, payable to
J. C. Caldwell, County Treasurer of Armstrong
County, Texas (certified check or better) and
sent to E. C. Cayton, County Clerk of Armstrong
County, Texas, at Claude, Texas, with sealed
bids to be marked "Bids on Bonds", bids to be
unconditional. The Commissioner's Court reserves the right to reject any and all bids.
These bonds were issued under Article 877 of
the Revised Statutes of Texas and amendments
thereto upon a vote of the property tax-payers
of said county, the vote being 226 for the bonds
and 190 against.
Armstrong County has never made default In
the payment of any of its obligations promptly
upon maturity, has no other bonded or registered
indebtedness, and no borrowed money, has an
actual property valuation of over $10,000,000,
with an assessed valuation of $5,150,000 for the
year 1911,and has had no Issue of bonds contested.
There is no pending or threatened litigation
touching or in any manner affecting the validity
of this issue of bonds, or any of the officers of said
county. The proceeds from said bonds will be
used for the purpose of building aCourt House for
said county and no other purpose. • Population
1910, 2,682. Tax rate for county purposes, 1910.
14 cents on the $100 valuation. No floating debt.
Election held May 6th, 1911. Bonds approved
by the Attorney-General of Texas. Delivered
within 10 days after sale.
I hereby certify that the above statement is
true to the best of my knowledge and belief.
J. S. STALLINGS,
County Judge,
[Seal]
Armstrong County, Texas.
SEALED PROPOSALS will be received by the
Township Committee of the Township of North
Bergen in the County of Hudson, N. J., at a regular meeting of said committee, to be held at the
Township Hall, in said Township, situated on the
Hudson Boulevard, opposite Main Street, on
THURSDAY. AUGUST 17 1911,
AT 8 O'CLOCK P. M.,
for the purchase of One Hundred and SeventyFour Thousand ($174,000) Dollars worth of Sinking Fund Bonds, bearing interest at the rate of
Five (5%) Per Centum per annum. Payable
semi-annually on the first days of June and December of each year.
Said bonds shall be of the denomination of One
Thousand ($1,000) Dollars each, shall be dated
June 1 1911 and shall be payable June 1 1941.
Said bonds shall be coupon bonds with the
privilege of registration as to the principal only,
or of the conversion into bonds registered as to
both principal and interest.
All bids shall provide for the payment of accrued
interest from the date of the bonds (June 1 1911)
to the date of the delivery of the bonds.
Said bonds are to be Issued under an Act of the
Legislature of , New Jersey, entitled "An Act
authorizing the incorporated cities, towns, townships and boroughs of the State to fund their
floating indebtedness and their matured and
maturing bonds," approved March 23 1899 and
their Acts amendatory thereof and supplemental
thereto.
All bids must be enclosed in a sealed envelope,
endorsed proposal for Sinking Fund Bonds, and
must be accompanied by a eertified check In the
sum of Five Thousand Dollars (55,000), payable
to the order of Frederick Sternkopf. Treasurer,
and must be handed to the Clerk when called for
In open meeting.
•
No informal or conditional bid will be accepted,
and the Township Committee reserves the right
to reject any and all bids if deemed by them for
the best Interests of the Township so to do.
By order of the Township Committee.
PATRICK A. BRADY,
Township Clerk,
Dated August 3 1911.
MUNICIPAL._BONDS
Il
#, w
Ykildiag tram 4170
*ANKBUR5L E N
LIST ON APPLICATION
NEW LOANS.
Township of North Bergen, Armstrong County,Tex.
&
13
'470
to tor
Circular.
CO.
F. WM. KRAFT
CHICAGO
MUNICIPAL AND RAILROAD
BONDS
[VoL.
BSTABLI81112D 1836
LAWYER
H. C. SPEER & SONS CO, Municipal and Corporation ofBond's
First Nat. Bank Bldg., Chicago
Specializing in Examination
SCHOOL,
COMFIT AND MUNICIPAL BONDS
1312 FIRST NATIONAL RANK BLDG..
CHICAGO, ILL.
427
THE CHRONICLE
AUG. 12 1911.]
7 the
• SEBEWAINO, Huron County, Mich.-Bond Sale.-On Aug.
93, p. 185)
$10,000 4 A% 1-5-year (ser.) coupon electric-light bonds (V.int.-a
basis
were awarded to S. A. Ktkan & Co. of Chicago at 100.20 and
of about 4.429%. Other bids follow:
H. W. Noble & Co., Detroit_110,0101Hanchett Bond Co., Chicago_.$9,803
Detroit Trust Co., Detroit _ _ _ 10,0091
• Date Sept. 1 1911. • Interest payable,annually.
advised that an
• SHELBINA. Shelby County, Mo.-Bond Sale.-We are
issue of $84.000 water and sewer bonds recently authorized has been sold.
proposition
• SHERBURNE, Chenango County, N. Y.-Bonds Voted.-Acarried by a
to issue not more than $2,500 North Main Street impt. bonds
vote of 72 to 9 at an election held Aug. 7. • • • • • • • • • • •
-On July 5 55,000
• SISKIYOU COUNTY (P.0. Yreka), Cal.-Bond Sale.
Adams & Co. of San
6% 5-yr. school-bldg. bonds were awarded to J. H.1911.
• Int. in July.
Francisco at 100.20. • Denom. $1,000. • Date July 1
UNION FREE
Pw SOUTHAMPTON AND BROOKHAVEN (Towns) County,
N. Y.
SCHOOL DISTRICT NO. 11 (II. 0. Eastport), Suffolk
bonds (V. 93,
Bond Sate.-On Aug. 7 the $10,000 5% 6-year (ay.) bldg.
p. 305) were awarded to Ferris & White of New York at 102.711.
-Bond Offering.
• SOUTH STILLWATER, Washington County, Minn.
C. A. Anderson, VIII.
Proposals will be received until 8 p. m. Aug. 25 by$500.
Date "date of
Recorder, for $5,000 6% water bonds. Denom.
25 from 1912 to 1921 incl.
sale." Int. F. & A. Due $500 yearly Aug.
These bonds were previously offered on July 5 (V. 92, p. 1717).
-Bond Sale.-On Aug. 8
Minn.
STILLWATER. Washington County,
awarded
the $90,000 30-year coup. tax-free ref. bonds (V. 93, p. 305) were
(101.11) and int. for 5s$91,000
for
Stillwater
in
Bank
to the First Nat.
from the Union Inv.
a basis of about 4.929%. Other bids were received
of Minn., Woodln,
Co., Minn. Loan & Trust Co., Wells & Diceky Co.
McNear & Moore, N. W. Halsey & Co., S. A. Kean & Co. and Cutter, May
& Co. of Chicago.
SUMTER COUNTY (P.O. Sumter). So. Caro.-Bonds Voted.-According
to reports a vote of 389 "for" to 354 "against" was cast on Aug. 1 on the
question of issuing the $150,000 road-improvement bonds.
SWANVILLE, Morrison County, Minn.-Bonds Defeated.-An election
held Aug. 1 resulted in defeat of the question of issuing $7,500 4% villagehall, jail and water-works bonds. The vote was 25 "for" to 44 "against."
SYRACUSE, N. Y.-Bond Offering.-Proposals will be received until
1 p. m. Aug. 15 by M. E. Monahan, City Compt., for $200,000 4 3.% reg.
intercepting sewer bonds. Denom. $500 or multiples thereof at the option
of buyer. Date Aug. 1 1911. Int. F. & A. at Columbia. Tr. Co., N.Y. Due
$10,000 yearly Aug. 1 from 1912 to 1931 incl. Bonds are exempt from taxation and will be delivered Aug. 25 1911 unless a subsequent date shall be
mutually agreed upon. Cert. check for 2% of bds. bid for, payable to
the Compt., required. Proposals must be unconditional and made on
forms furnished by the city. Bonds will be certified as to genuineness by
the Columbia Trust Co. of N. Y. Their legality will be examined by Cold.well, Masslich to Reed of N. Y., whose opinion will be furnisueu to purchaser.
TERRACE PARK, Hamilton County, Ohio.-Bond Offering.-Proposals
will be received until 12 in, Sept. 7 by W. E. Williamson, Viii. Clerk, for
$1,360 ($700 village's portion and $660 property owners' assess.) 5% streetimpt. bonds. Auth. Sec. 50, 51, 52 and 53. Municipal Code. Date Aug. 1
1911. Int. Aug. Due part yearly Aug. 1 from 1912 to 1921 incl. Bonds
to be delivered and paid for within 10 days from date of award. Cert. check
for 5% of bonds bid for, payable to the VIII. Treas., required. Purchaser
to pay accrued Interest.
TRENTON, N. J.-Bond Sale.-The Sinking Fund Commissioners have
been awarded the $63,200 10-year street and *45,000 30-year park 4%
reg. or coup, bonds offered but not sold on June 26 (V. 93, p. 68).
• TROY, N. Y.-Certificate Sale.-On,Aug. 4 $100,000 certificates of in
debtedness were awarded to the Manufacturers' Nat. Bank in Troy at
100.185 and int.
• • • • • •
TUCUMCARI. Quay County, N. Mex.-Bond Sale.-About June 1
$75,000 5% water-works bonds were awarded to Ulen & Co. of Chicago for
$75,125, making the price 100.166. • Date,June 1 1911. - • • • • • •
tr- TULSA,/ Tulsa,. County, Okla.-Bond Election.-Propositions to issue
$100,000 sewer, *90,000 water, $50,000 fire-dept., $33,000 street, $11,000
funding and *7,000 library bonds will be voted upon, it is stated. on Aug. 15.
UNADILLA, Dooly County, Ga.-Bond Offering.-Proposals will be
received until 6 p. in. Sept. 14 by the Mayor and Council for the $15.508
bonds voted June 17 (V. 92. P• 1718).
sewer and $12.500 water-works 6
Cert. check for 2% of bid required! S. L. Speight is Clerk and Treasurer.
Bond Election.-The election held
of
VANCOUVER. Wash.-Result
Aug. 1 resulted in favor of the question of issuing $50,000 6% 10-yr. sewer
bonds and in the defeat of a proposition to issue $50,000 city-hall bonds.
• VENTURA COUNTY (P.O. Ventura), Cal.-Bonds Voted.-Local papers
state that the election held Aug. 1 resulted in favor of the question of issuing
the $150,000 court-house bonds (V. 93, p. 124). Due 30 yrs.
WACO, McLennan County, Tex.-Bond Offering.-Further details are
at hand relative to the offering on Aug. 22 of the $45,000 sanitary-sewer,
$35,000 storm sewer, $50,000 street-impt. and $70,000 school 5% gold
coupon 30-year bonds (V. 93, b. 365). Proposals will be received unti
10 a. m. on that day by J. C. Davis, City Secretary. Denom. $1,000.
Date July 1 1911. Int. J. & J. Cert. check for 2% of bonds bid for, payable to the Mayor, is required.
WARREN COUNTY, N. Y.-Bond Sale.-On Aug. 10 the $50,000 5%
reg. road bonds (V. 93, p. 306) were awarded to Isaac W.Sherrill of Poughkeepsie at 102.55 and Int. Other bids follow:
102.271
102.3531Ferrls & White, N. Y
John J. Hart, Albany
101.08
Douglas Fenwick & Co., N. Y102.2911Farson. Son & Co.. N Y
WASHINGTON COUNTY (P. 0. Jonesboro), Tenn.-Bonds Voted.ques7
the
favor
of
In
Aug.
held
election
resulted
an
that
state
Reports
tion of issuing $60,000 highway-impt. bonds.
WATERTOWN INDEPENDENT SCHOOL DISTRICT (P. 0. Watertown), Codington County, So. Dak.-Bond Offering.-Proposals will be
received until 8 p. m. Aug. 25 by the Bd. of Ed., M. Elkins, Clerk, for $30.000 4;i% refunding bonds. Date Oct. 1 1911. Int. A. & 0. Due $1.500
yrly. for 20 yrs. Cert. check for 3% of bonds bid for required.
WAYCROSS, Ware County, (la.-Bonds Proposed.-According to reports the proposition to issue $175,000 impt. bonds is being discussed.
WEBSTER GROVES SCHOOL DISTRICT (P. 0. Webster Groves),
St, Louis County, Mo.-Bonds Voted.-The election held Aug. 5 resulted in
p. 306).
,
favor of the proposition to issue the $28,000 building bonds (V.93,
According to reports the vote was 274 "for" to 22 "against.'
WICHITA COUNTY (P. 0. Wichita Fails), Tex.-Bond Election.-An
election will be held on Aug. 15, it is reported, to vote on the question of
issuing the $200,000 good-road bonds (V. 93, p. 306).
WILCOX. Kearney County, Neb.-Bond Offering.-Proposals will be
received until 10 a. m. Aug. 24 by F. J. Mershon, VII. Clerk, for the $13,000
5% water bonds voted July 1 (V. 93, p. 186). Denom. $500. Date Sept. 1
1911. Int. M. & S. Due 20 yrs., opt. after 5 yrs.
^
NEW LOANS.
MISCELLANEOUS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY. Town
New York, January 20th, 1911.
of its affairs
The Trustees, in conformity With the Charter of the Company. submit the following statement
on the 31st of December, 1910.
35
$3,981,907
1910
Premiums on Marine Risks from 1st January, 1910, to 31st December,
685,546 90
Premiums on Policies not marked off 1st January, 1910
Total Marine Premiums
$4.667,544 25
$30,000
of Moore, Fergus Co., Mont.
WATER-WORKS BONDS
NOTICE OF BOND SALE.
NOTICE IS HEREBY GIVEN that the Town
$3.793,863 88 Clerk
of the Town of Moore, Fergus County, Montana, will sell at 'public auction at his °Mee in
the Town of Moore, at the hour of
$520,158 41
THREE O'CLOCK P. M. ON THE 14TH
DAY OF AUGUST, A. D. 1911;
Losses paid during the year which were estimated la 1909
an
issue of $30,000 00 of the Town's water-works
$504,311 33
and previous years
bonds.
(=pen
1,021,356 12 $1.525,867 45
Losses occurred, estimated and paid in 1910
Authority for the issuance of said bonds is based
election held in the said Town on the 29th
an
upon
$195,931 27
Less Salvages
day of June, A.D. 1911, and proceedings had by
402,100 63
598.037 90
Re-Insurances
the Town Council of the said Town of Moore,
authorizing the same under the laws of the State
$927,62955
of Montana.
Said bonds will draw merest at a rate not ex$132,651 56
Returns of Premiums
ceeding six per centum per annum, will be of the
ers' salaries and clerks' compensation, stationery,
Expenses, Including offlk,
denomination of $1,000 00, will be dated the 1st
39
$383,223
newspapers, ad,-!rtisements, etc
day of August, A. D. 1911, due the 1st day of
August. A.D. 1931, optional on the 1st day of
LIABILITIES.
ASSETS.
August.A.D. 1921, interest payable semi-annually
at the Town Treasurer's Office, or at a bank in
Estimated Losses and Losses UnUnited States & State of New York
52,714,035 88 Chicago or New York designated by the pursettled
Stock, City. Bank and other Se873,680 37 chaser.
$5,418,792 00 Premiums ea Unterminated Risks_
curities
A certified check for $1,000 00, payable to the
Special deposite is Hanks &'fruatCes. 1,209,916 69 Certificates of Profits and Interest
Unpaid
282,427 75 Town Treasurer of the Town of Moore, Is required.
Real Estate con Wall & WilitafteSta.
146,084 03 Said bonds must be sold at not less than their par
Return Premiums Unpaid
& Exehange Plaee_54,299,420 04
Reserve for Re-Insurance Premiums
value to the bidder offering the highest price for
Other Real Estate &
Is Claims rot settled, including
said bonds. The right to reject any and all bids
claims due the com160,000 00 Is reserved.
Compensation, etc
75,000 00 4.374.426 04
pany
Certificates of Profits Ordered ReA. D. SCOTT, Town Clerk.
deemed, Withheld for Unpaid
Premium notes and Bills Receivable 1.134.448 70
22.459 61
Premiums
Cash in the hands of European
Certificates of Profits OutstandBankers to pay losses under poli7,441,100 00
ing
210,435 74
cies payable in foreign countries_
400,000 00
Real Estate Reserve Fund__-Cash In Bank and N. Y. City rev935,478 76
enue bonds
*12.010.787 64
$13.274,407 90
Aggregating
Aggregating
Premiums marked off from 1st January, 1910, to 31st December, 1910
$373,571 50
Interest received during the year
140,586 91
Rent less Taxes and Expenses
4
Thomas J. Bolger Co.
MUNICIPAL BONDS
A dividend of Interest Of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the seventh of February next.
The outstanding certificates of the issue of 1905 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the seventh of February next,from which date all
Interest thereon will cease. The certtnentes to be produced at the time of joayment and canceled.
A dividend of Forty per cent is declared on the earned premiums of the Company for the year
ending 31st December, 1910, which are entitled to participate in dividend, for which, tpon aPPIJ
cation, certificates will be issued on and after Tuesday the second of nay next.
By order of the Board.
U. STANTON FLOYD4ONES, Secretary.
T72USTEES.
CHARLES M. PRATT.
HERBERT L. GRIGGS,
FRANCIS M. BACON,
DALLAS B. PRATT
CLEMENT A. GRISCOM.
JOHN N. BEAOH.
GEORGE W. QUINTARD.
ANSON W. HARD, .
ERNEST 0. BLISS.
A. A. RAVEN,
THOMAS H. HUBBARD,
VERNON H. MOWN,
LEWIS eAss LEDYARD.
JOHN J. RIKER.
WALDRON P. BROWN.
DOUGLAS ROBINSON.
CHARLES D. LEVERICH,
JOHN CLAFLIN,
GUSTAV. H. SCHWAB.
LEANDER N. LOVELL.
GEORGE 0. CLARK,
WILT,IAM SLOANE,
GEORSE H. MAOY,
CLEVELAND H. DODGE,
LOUIS STERN,
CHARLES H. MARSHALL.
CORNELIUS EL,110E'RT,
WILLIAM A. STREET,
MOHOLAS F. PALMER.
RICHARD H. EWART,
GEORGE E. TURNURE.
HENRY PARISH.
PHILIP A. S. FRANKLIN
ADOLF PAVSNSTEDT,
A. A. RAVEN, President.
CORNELITTS 1FMDERT, Ftce-Prestdent.
WALTER WOOD PARSONS, 2d Via-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART,48h ViCo-Presiden,
Legal for Savings Banks,
Postal Savings aid Trust Funds
SEND Irilli LIST
19 South La Salle St.,
CHICAGO
BLODGET & CO.
BONDS
60 STATE STREET,BOSTON
30 PINE STREET, NEW YORK
STATE, CITY & RAILROAD BONDS
R. T. Wilson & Co.
33 WALL STREET
INEW YORK
•
428
THE CHRONICLE
[VoL. Lxxxxim
WILMINGTON, New Hanover County, No. Caro.-Bond Offering.Proposals will be received until 12 m. Aug. 30 by T. D. Meares, City Treas.,
for $100,000 4% gold coup. street-impt. bonds. Auth. vote of 1,323 to
42 at an election held May 7 1907. Denom. to suit purchaser. Date
Oct. 1 1911. Int. A. & 0. at place designated by purchaser. Due Oct. 1
1951. Certified check for $2,000, payable to the City Treas., required.
Official circular states that there is no litigation pending or threatened, and
that there has been no default in the payment of principal and interest.
WILMINGTON, New Castle County, Del.-Bond Sale.-On July 17 the
$50,000 4% 233.4-yr. Eleventh St. widening bonds (V. 93, p. 124) were
awarded to Harris, Forbes & Co. of N. Y. at 98.192.
WINSTON-SALEM. Forsyth County, No. Caro.-Bonds Voted.-A favorable vote was case on Aug. 7 on the proposition to issue the $350,000
40-yr. street, sewer, school, hospital and water bonds (V. 93, p. 306) at
not exceeding 5% int. The vote was 515 to 10.
WINTERS. Yolo County, Cal.-Bond Sale.-According to reports, on
Aug. 1 the $28,000 5% sewer bonds (V. 93, p. 306) were awarded to N W.
Halsey & Co. of San Fran. for $28,711 20, making the price 102.561.
WORCESTER, Worcester County, Mass.-Temporary Loan..-A loan of
$200,000 due Oct. 17 1911 has been negotiated, It is stated, with Perry,
Coffin & Burr of Boston at 3% discount and $5 premium.
r YOUNGSTOWN SCHOOL DISTRICT (P. 0. Youngstown). Ohio.-Bond
Sale.-On Aug. 9 the $100,000 41% 26. -year (ay.) coup. bldg. bonds
(V. 93, p. 366) were awarded to the Provident Savings Bank & Trust Co.
of Cin. at 106.67 and int.-a basis of about 4.05%. Other bids follow:
Seasongood & Mayer,
I Cleve. Tr. Co., Cleve__1$105,570 00
Cincinnati
$106,568 75!Stacy & Braun, Toledo_
New First Nat. Bk., Col_ 106,183 001 Otis & Hough, Cleveland 105,072 00
YUCAIPA SCHOOL DISTRICT (P.O. Yucaipa), San Bernardino County,
Cal.-Bond Wet-Mg.-This district will offer for sale on Aug. 21, it is
stated, an issue of $7,500 school bonds.
DIDSBURY, Alta.-Debenture Offering.-Further details are at hand
relative to the offering on Sept. 1 of the 520.000 5 Y5% coup. elec.-light debentures (V. 93, p. 307). Proposals for these debentures will be received
until 6 p. m. on that day by J. M. Reed, Town Clerk. Auth. election held
Ju e 30. Date July 3 1911. Due in 20 ann. installments of prin. & int.
at the Union Bank of Canada in Didsbury. Debenture debt at present
$3,250. No floating debt. Assess. val., $541,570.
EARL GRAY, Sask.-Debenture Sale.-On July 15 $2,500 6% 15-installment town-hall debentures were awarded to Nay & James of Regina at
93.09. A bid was also received from C. H. Burgess & Co. Date Jan. 15
1911. Int. annual.
EAST KILDONAN SCHOOL DISTRICT, Man.-Debenture Sale.-The
$13,000 6% 20-yr. school debentures (V. 93, p. 307) are reported as having
been sold to Wood, Gundy & Co. of Toronto.
GRA VENH URST. Ont.-Debenture Offering.-Proposals will be received
until Aug. 10 for the $7,000 water and $3,000 sidewalk 5% debentures
Auth. vote of 59 to 15 for water debentures and 46 to 27
(V. 93, p.
debentures at the election held Aug. 4. Water debentures due
307)'
for sidewalk
1941 and sidewalk debentures 1931.
GRETNA SCHOOL DISTRICT NO.336. Man.-Debenture Sale.-On July
27 $7,000 5% 20-yr. debentures were awarded to the Nat. Finance Co. of
Regina for $6,875 (98.21) and int. Other bids follow:
Ontario Securities Co., Tor _$6,807 Geo. A. Stimson & Co., Tor ..$6,725
_
6,723
6,803 Wood, Gundy & Co. Tor__
Nay & James, Regina
' Win__ 6,671
H. O'Hara & Co., Winnipeg_ 6,765 Alloway & Champion,
Date Sept. 1 1911. Interest payable annually.
HAMILTON. Ont.-Municipal Power Plant.-The citizens of Hamilton
on July 25, by a majority vote of 418, adopted a by-law to issue $500,000
debenture bonds for a municipal light and power plant, the sum of $29,213 to be raised annually by special tax to pay int. on the bonds and to
create a sinking fund to retire them in 30 years (V. 93, p. 307).
HOLDEN SCHOOL DISTRICT NO. 1057, Sask.-Debenture Sale.-Nay
& James of Regina are reported as having purchased an issue of $6,500 5 m(x,
AURORA, Ont.-Debenture Sale.-On July 29 the $10,000 5% and
$5,000 4% 20-yr. debentures (V. 93, p. 307) were purchased by Wood, 20-yr. debentures.
Gundy & Co. of Toronto, it Is stated.
INGERSOLL. Ont.-Debentures Authorized.-A by-law providing for
the issuance of $25,000 electric-light-plant debentures was passed, it is
BANCROFT, Ont.-Debentures Voted.-A by-law providing for the issu- reported.
ance of $9,000 sidewalk debentures carried at an election held recently.
MARKINCH, Sask.-Debenture Offering.-Proposals will be received
BATTLEFORD, Sask.-Debentures Voted.-A by-law providing for the until
Aug. 14 by W. T. Leggett, Sec.-Treas., for $2,000 6% 10-installment
Issuance of $25,000 5% 25-Installment town-hall debentures has been sanc- street-Improvement
debentures. Assessed valuation, $78,000.
tioned by the ratepayers, it is reported.
Ont.-Loan Election.-11eports state that the ratepayers
MATTAWA,
CALGARY Alta.-Loan Election.-Two by-laws providing for loans of
$26,500 for sidewalks and $12,000 for bridge purposes will be submitted will vote on Aug. 15 on a by-law providing for a loan of $6,000 for sidewalks.
PORTAGE LA PRAIRIE, Man.-Loan Election.-An election will be
to a vote on Aug. 17, according to reports.
held, it is reported, to vote on a by-law providing for a loan of $110,000
CANORA. Sask.-Loans Voted.-By-laws aggregating $91,000 for a to purchase an electric and gas plant.
town-hall, water-works and sewerage system were favorably voted upon,
PRAIRIE FLOWER SCHOOL DISTRICT NO. 989, Saslc.-Debenture
according to reports.
Sale.-Reports state
Nay & James of Regina have purchased an issue
CAR LYLE. Sask.-Debentures Re-voted.-The election held July 24, we of $3,500 6% 20-yr.that
debentures.
are advised, was for the purpose of re-voting $3,000 debentures previously
Defeated.-The election held Aug. 4
Ont.-Debentures
WEST
LORNE,
250).
of
(V.
93, p.
disposed
CASTOR. Alta.-Debenture Offering.-Proposals will be received until resulted in a vote of 35 "for" to 89 "against" the question of issuing the
Aug. 21 by L. B. Browne, Town Commissioner, for $5,000 5-yr. sidewalk $11,000 water-system debentures (V. 93, p. 250).
and $3,000 20-yr. hospital 5% debentures.
WETASKIW IN, Alta.-Debenture Offering.-Proposals will be received
DIAMOND CITY, Alta.-Debenture Sale.-On July 21 the $4,000 6% until 5 p. m. Sept. 4 by E. Roberts, Sec.-Treas.. for $6,000 elec.-light and
debentures (V. 93, p. 187) were awarded to C. H. Burgess & Co. of Toronto, $6,500 fire-hall 5% debentures, dated July 25 1911. Due in 20 ann. InstallIt Is stated. Due part yrly. for 10 yrs.
ments of principal and Interest.
Canada, its Provinces and Municipalities.
ENGINEERS •
J. G. WHITE & CO
Engineers, Contractors
43-49 Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
Investigations and Reports on Electric
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Properties, Irrigation Systems, ecc.. for
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MISCELLANEOUS.
The
Trust Company of America
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COLONIAL BRANCH:
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•
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