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GENERAL LIBRARY,
UNIV. OF
Mien.
AUG 16
1910
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Electric Railway Section
Bankers’ Convention Section
State and
Copyrighted in 1010 by William B. Dana Company, New York.
VOL. 91.
Entered at N. Y. Post Office
iPoanxial.
THE FARMERS' LOAN & TRUST
COMPANY
Harvey Fisk & Sons
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
out the world
Company Is
a
legal depositary for
moneys paid Into Court, and Is author¬
ised to act as Executor. Administrator,
Trustee. Guardian, Receiver, and in all
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
City Section
second class mail matter.
NEW YORK, AUGUST 13 1910.
gtuattjeiaX.
The
as
NO. 2355
ghiattelal.
NEW YORK
BANKERS
Government, Railroad
Municipal Bonds
THE
LIBERTY
and
NATIONAL
INVESTMENT SECURITIES
BANK
OF NEW YORK
PHILADELPHIA, represented by
JAMES H. CHAPMAN, 421 Chestnut St.
CHICAGO, represented by D. E. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B.
MOULTON, 35 Congress St.
139 BROADWAY
and Bonds.
Receives deposits upon Certificates of
or subject to check, and allows
interest on dally balances.
Manages Real Estate and lends money
Deposit,
bond and mortgage.
Will act as Agent in the transaction of
any approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
New York.
Fiscal Agent for States, Counties and
Cities.
on
16-22 WILLIAM STREET
475 FIFTH AVENUE
NEW YORK
LONDON
PARIS
Members of Richmond and Baltimore Stock
The National Park Bank
of New York
N.W. HARRIS & CO
BANKERS
Organized 1858.
Capital
Surplus and Profits
Deposits June 30,1910
.
.
.
.
'.
.
.
.
$5,000,000 00
12,800,000 00
117,757,107 86
RICHARD DELAFIELD,
President.
GILBERT G. THORNE,
JOHN C. MoKEON.
Vice-President.
Vice-President.
JOHN C. VAN CLEAF,
Vice-President.
MAURICE H. EWER,
Cashier.
WILLIAM O. JONES,
WILLIAM A. MAIN,
Asst. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Asst. Cashier.
Pine Street, Corner William
NEW YORK
35 Federal St., Boston
Receive deposits subject to eheok
allow Interest on balanoet.
Act as fiscal agents for munici¬
and
palities
letters
and
of
corporations.
credit
and
Issue
deal
In
BONDS FOR INVESTMENT
LIST ON APPLICATION
Exchanges.
John L. Williams & Sons
BANKERS
MECHANICS AND
RICHMOND, VA.
altlmore
Correspondents:
MIDDENDORF. WILLIAMS
Fifth Avenue Building
Corner 5th Ave. and 23rd St., New York.
METALS
NATIONAL BANK
& CO.
S3 Wall Street
GARFIELD NATIONAL BANK
Capital, $1,000,000
Edward B. Smith & Co.
THE
Corner 9th and Main Streets
BANKERS
INVESTMENT SECURITIES
Members New York and Phlla. Stock Exchanges
N. E. Cor. Broad & Chestnut Sts.,
Capital,
....
Surplus,
Surplus, $1,000,000
$6,000,000
6,000.000
RUEL W. POOR, President
JAMES McCUTCHEON, Vlce-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW, Asst. Cashier
Philadefvb
27 Pine Street. New York
ORIGINAL CHARTER 1829
THE
Chase National Bank
Clearing House Building
Cap. & Surp., 512,472.531
Dep., 592.787.537
A. B.
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
HEPBURN. President
A. H. Wlggin, V.-Pres.
S. H. Miller. V.-Pres.
H. M. Conkey, Cashier
C. C. Slade. Asst. Cash.
E. A. Lee, Asst. Cashier.
W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
OF THE CITY OF NEW YORK
PHILADELPHIA
Capital
....
$1,000,000
Surplus and Profits (earned)
2,450,000
First National Bank
SAMUEL WOOLVERTON, President
ADRIAN ISELIN JR.. Yloe-VreMdent
GEORGE K LEWIS. Cashier
HOWELL T. MANSON. Assist. Cashier
109-111 SOUTH FOURTH STREET
OFFICERS
THE
EQUIPMENT OF THE
FOURTH NATIONAL BANK
OF THE CITY OF NEW YORK
—CORNER NASSAU AND PINE
STREETS— IS
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
of
ESPECIALLY
315
Philadelphia
CHESTNUT STREET
Jj DIRECTORS
Adrian Iselln Jr.
Frederic W. Stevens
Alexander H. Stevens
ACCOUNTS
INVITED
W. Emlen Roosevelt
Chas. A. Peabody
Srmuel Woolverton
Charles H. Tweed
Thomas Denny
ISaulux* and lvauw«s
DOMESTIC AND FOREIGN BANKERS
Wall Street. Corner of Broad
PHILADELPHIA
Streets
Corner of 5th and Chestnut
Exchange, Telegraphic Transfert,
Bill* of
No. 22 Old Broad Street
HARJES &
CO., PARIS
Union
Cable Transfers
Oircular Letters for Travelers available
of the world
in all parts
BOSTON.
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United
mission.
Receive accounts
of Banks, Bankers, Corpora-
Agents and
Stock Exch’s.
States
I nVPCtm pr»t
*11 vv.ouiiv.iii,
O
*.!
Buy and sell Bills of Exchange
and make cable transfers on all
—^
-.
points. Issue Commercial and
f r^rllf- Travelers’ Credits, available in
LUll ap parts
of the world.
LTD.
BANKERS
NEW
YORK
Buy and Sell Investment Securities
Letters of Credit for Travelers,
Available in all Parts of the World
Correspondents of the
ROTHSCHILD.
London, Paris and Vienna.
Available in all parts of the world.
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE, Cuba, and the
other West Indies, Mexico and California.
Execute
the purchase and sale
orders for
AND MAKE
DRAW BILLS OF EXCHANGE
TELEGRAPHIC TRANSFERS OF MONEY
EUROPE AND CALIFORNIA
for Travelers
Bonds and Stocks.
of
TO
Seligman Brothers, London
Seligman Freres & Cie., Faria
Alsberg, Goldberg & Co., Amsterdam
The Anglo and London - Farie National
Bank of San Francisco, Cal.
.
Graham, Vaughan & Co.,
44 Pine Street. New York.
Mmond&CQ.
BANKERS
TA1LER4QD
BANKERS
INVESTMENT SECURITIES
27 Pine Street. New York
GO.
Issue
ISSUE LETTERS OF CREDIT
JLfCllCiS
LONDON
&
Seligman & Co.,
J. & W.
Messrs.
_
BROWN, SHIPLEY & CO..
BROTHERS
LONDON
No. 23 NASSAU STREET.
Members New York Stock Exchange.
tlons. Firms and Individuals OCCUritlCS
Collect
on favorable terms.
drafts drawn abroad on all points in the United
States and Canada: and drafts drawn in the United
States on foreign countries, including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
m
BARING
BANKERS.
ALEX. BROWN & SONS, BALTIMORE.
Connected by Private Wire.
vestment Securities on com-
Correspondents of
August Belmont & Co.,
59 Wall Street
Buy and sell first-class In-
London.
Agents for the Bank of Australasia, the British
Gu1 aa Bank, Demerara, etc., etc.
Brown Brothers & Co.,
Hems. N. Y., Phila., Boston & Balt.
LETTERS OF CREDIT
Smiths Bank. Limited.
London &
of
Messrs. Mallet Freres & Cie.. Paris.
Banco Nacional de Mexico
And its Branches.
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
NEW YORK.
FOREIGN EXCHANGE.
on
31 Boulevard Haussmann
PHILA.
BANKERS
INVESTMENT SECURITIES.
of Credit
Letter$
STREET BOSTON
STREET, NEW YORK
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
issue Loans.
MORGAN, GRENFELL & CO., LONDON
MORGAN,
115 DEVONSHIRE
52 WILLIAM STREET
NEW YORK
NEW YORK
DREXEL & CO-
at Eavetgn 2£®cfcawfl*.
Coppell & Co.f Kidder, Peabody & Co.,
J. P. MORGAN & CO. Maitland,
T
[VOL. LXXXX1.
THE CHRONICLE
II
MEMBERS NEW YORK STOCK
31-38 Pine Street, New
York
624 Fifth Ave.. N. Y.
EXCHANGE
507 Chestnut Street. Philadelphia.
BANKERS
SECURITIES
Deposits received subject to draft.
Interest al
lowed on deposits.
Securities bought and sold on
commission. Travelers' credits, available through*
out the United States, Cuba, Puerto Rico, Mexico.
Central America and Spain. Make collections in and
Issue drafts and cable transfers on above countries.
London Bankers:—London Joint-Stock
Limited.
Paris Bankers:—Heine & Co.
Winslow, Lanier & Co.,
Produce Exchange
BANKERS
BROADWAY. Corner BEAVER
Subject to Draft.
Interest
Securities
Capital
...
Surplus earned -
on
Foreign
Act as Fiscal
commission.
Agents.
Securities.
General Foreign and Domestic
of
435 Chestnut Street
and Municipal Bonds,
of
Railroads, Street
Government
Securities
BANKERS.
Railways and Gas companies
37 William Street.
of established value.
EXCHANGE.
sale of
Foreign Exchange Bought and Sold.
Act
as
Financial Agents
Issue Foreign and Domestic Letters of
Credit and Travelers’ Cheques
Issue Commercial and Travelers* Credits
available in all parts of the world.
Dealers in Investment Securities
Schulz &
John Munroe & Co.
Ruckgaber,
Knauth, Nachod&Kiihm
BANKERS.
15 William Street.
Members New
N
....
York
Stock
Oommerdal Credits.
Foreign Exchange,
Cable Transfers.
Exchange.
Bremen.
Issue Commercial & Travelers* Credits.
1
(
Buy and Sell Bills of Exchange.
BANKERS
New York
Correspondents of Messrs.
Fruhllng & Goschen, London.
John Berenberg-Gossler & Co., Hamburg.
Marcuard, Meyer-Borel & Cie., Paris.
Bremer Bank Flliale der Dresdner Bank,
Letters of Credit for Travelers
MUNROE & 00., Paris
BANKERS
Cable
PHILADELPHIA
Execute orders for purchase and
Stocks and Bonds.
STREET, NEW YORK
BOST
Graham 3c Co.
HEIDELBACH, ICKELHEIMER & CO.
Banking Business
Securities bought and sold on
ST.
$1,000,000
500,000
bought and sold.
Exchange
MEMBERS N. Y. STOCK
YORK
Members New York Stock Exchange.
ACCOUNTS INVITED
BANKERS
a
cheque and
Bank
Commercial and Travelers' Letters
Credit available in all parts of the world.
Kean, Taylor & Co.
Transact
subject to
Interest allowed on deposits.
Dealers in High-Grade Investment
Transfers.
Foreign Exchange, Letters of Credit
30 PINE
received
Cable Transfers.
NEW YORK
NEW YORK
on
Deposits.
Bought and Sold
Commission.
Bank,
Deposits
Cheques;
Lists upon application.
69 CEDAR STREET
Allowed
Bills of Exchange and
York
64-66 Wall Street, New
Members of the New York Stock Exchange
of Credit and Travelers’
available the world over.
Letters
Bankers
INVESTMENT
Deposits Received
Cables "Mimosa."
Lawrence Turnure & Co.
Cable Transfers & Investment Securities
NEW YORK
LEIPSIQ, GERMAN'
Members New York Stock Exchange.
INVESTMENT
SECURITIES
AUG. 13
THE CHRONICLE
1910.]
gatrfues.
gfxtt&ev*.
glantuvs.
Millett.Roe & Hagen
Lee, Higginson &Co.
BANKERS
Wm. A. Read & Co.
BOSTON
HIGGINSON &. CO.
33 Wall Street
New Yerfc
BANKERS.
Dealers In
Members New York, Chicago and Boston
Stock Exchanges.
HIGH-GRADE BONDS
Chicago
New York
I Bank Buildings,
ui
Members New York Stock
Princa's Street,
Exchange
Investment Securities
LONDON, E. C.
Boston, 15 Congress Street
25 NASSAU STREET,
NEW YORK
Plympton, Gardiner& Co.
BOSTON
BALTIMORE
CHICAGO
N. W. HALSEY & CO,
Bank.ra
LONDON
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest Allowed on
Conservative Investments
Fiscal Agents
Deposit Accounts
for Cities and Corporations
LISTS ON REQUEST
27 William St., New York
232 La Salle Street
CHICAGO
54 Old Broad Street
Rhoades&Company
40
Wall Street, NEW YORK
Philadelphia
Chicago
San Francises
BANKERS
LONDON, E. C.
45 WALL STREET, NEW YORK
George P. Butler & Bro
NEW YORK
85 Wall Street
Members N. Y. Stock Exchange
High-Grade Bonds
Trowbridge & Co.
Statn,
Municipal
and
RAILROAD AND OTHER
Railroad
INVESTMENT SECURITIES*
BANKERS
Members New York Stock Exchange
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subject to
draft.
Letters of Credit and
Bonds and Stocks
Travelers’ Checks
Available
for Investment
Throughout the World
HARTFORD—86 Pearl Street
NEW YORK
111
NEW HAVEN
Broadway
134 Orange St.
BANKERS
NEW YORK
purchase and
saleof Stocks aad Bonds.
Bay and Sell Foreign Exchange.
CABLE ADDRESS "COLDNESS.”
14 State Street
Issue
NEW YORK CITY
4
Commercial and Travelers’
Letters of Credit
Exchanges
74 State Street
BOSTON
Toronto. Ont.
Hospital Street, Montreal, Que.
10 Federal Life Bldg.. Hamilton, Ont.
108 Banlgan Bldg.. Providence, R. 1.
Private wires
connecting aU office§
DEALERS IN
Securities
COMMERCIAL PAPER
INVESTMENT SECURITIES
Investment
Members New York & Boston Stook Exchanges
Zimmermann & Forshay
and
Commercial
Doper
WollenbergeT & Co.
BANKERS
BANKERS
Specialists in
' 3
Foreign Government Bonds
Correspondence Invited.
BOISSEVAIN & CO.
9 and 11 Wall Street. New York.
206 La Salle Street
24 BROAD STREET.
Members New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds for Invest¬
ment or on
Members New York Stook Exchange.
TRANSACT A GENERAL BANKING
STOCK EXCHANGE B USINESS.
New York and Boston Stock
Available In all parts of the world.
and other MUNICIPAL BONDS
Adolph Boissevain & Co..
Amsterdam. Holland.
Head & Co.
Members of
20 King Street. West.
BOSTON
Dealers In
Charles
17 Broad Street
NEW YORK
Executes orders for
Blake Brothers & Co.
NEW YORK
Draw Bills of Exchange and make Cable
Transfers to Europe, Asia, Australia, thi
West Indies, Central and South America and
Mexico.
Issue Letters of Credit for Travelers, raftable in all parts of the world.
Members of New York Stock Exchange.
Exchange Place,
Cor. of Wall and Broad Sts., New York.
Goldman, Sachs & Co.
60 WALL STREET,
50
H. B. HOLLINS & CO.
margin.
-
-
CHICAGO
LEONARD H. HOLS
BIRD S. COLER
Ftreip Exchange Bought and Said
W. N. COLER & CO.
Letters of Credit Issued
BANKERS
AND
Cable
Transfers
to
all
Parts
of
the
World.
43 CEDAR
ST., NEW YORK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SECURITIES
.
Members New York Stock Exchange
and
Boston Stock Exchange.
•8
Congress St.
BOSTON
Ill Broadway-
NEW YORK
34 LaSalle St.
CH1CAQO
CRAMP, MITCHELL & SHOBER
BANKERS
1411 Chestnut St.
Philadelphia
Shoemaker, Bates & Co.
BANKERS
fNew York Stock Exchange
Members! New
York Cotton Exchange
l Chicago
Stock Exchange
Members New York and Phila. Stock Exchanges
INVESTMENT SECURITIES
Investment Securities
37-43 Wall Street, New York
Waldorf-Astoria and 500 Fifth Ava.,NawY«t
Real Estate Tr.
Bldg., Phila.
[VOL. LXXXXI
THE CHRONICLE
17
Canadian.
gjcrtejtlgtx.
MONTREAL
DEUTSCHE BANK The Union Discount Co. BANK OF
(Established 1817)
BERLIN. W.
of London, Limited
CAPITAL paid in - - $14,400,000 00
Behrenstrasse 9 to 18.
39 CORNHILL.
Telegraphic Address, Udlsoo,
$47,619,000 Capital Subscribed
Paid-Up—
$26,172,895 Reserve Fond
CAPITAL.
M. 200.000.000
RESERVE
M~
London.
—
8.750,000
2,900,000
$5= SI STERLING.
105,726464
Dividends paid during last ten years:
u: 11. 11. 11. 12. 12. 12. 12. 12. 12H per oent
GIVEN that the
NOTICE IS HEREBY
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. IX Per Cent.
At 8 to 7 Days’ Notice. IK
Branches:
1RBMS2N. DRESDEN. FRANKFORT-O-lT.
HAMBURG.
LEIPSIO,
MUNICH.
NUREMBURG. AUGSBURG.
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
and the
Deutsche Bank (Berlin) London Agency
4 George Yard. Lombard St.
LONDON, E. 0.
fflu
PlAtaa^AM
D^lwi
P
a
XT
rf
1.
rw
Ifs
Oan
YORK OFFICE,
64 WALL STREET
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
R. Y. HEBDEN,
)
W. A. BOG,
I Agents.
J. T. MOLINEUX.J
Buy and sell Sterling and Continental Exchange
and Cable Transfers; grant Commercial and Trav¬
The London City &
Midland Bank, Limited,
any part of the world:
on and make collections In Chicago and
throughout the Dominion of Canada.
London Office, 47 Threadneedle St., E. C.
F. WILLIAMS TAYLOR, Manager.
elers’Credits. available In
Issue drafts
HEAD OFFICE
BANCO ALEMAN TRANSATLANTIC
With Branches In all the Principal Cities and
Towns of England and wales.
Telegraphic Address: Cinnabar. London.
(Deutsche Ueberseelsche Bank.)
ESTABLISHED 1836
($7,143,000)
M. 30.000,000.
PAID-UP CAPITAL-M. 22.500.000.
RESERVE FUND
M. 6,827.000.
HEAD OFFICE
Head Office—Montreal
NEW
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUGENT. Manager.
12,000,000 00
681,561 44
Rt. Hon. Lord Strathcona and Mount Royal,
a. C. M. a., a. C. V. O.—Honorary President.
R. B. ANGUS. President.
Per Cent.
8 Threadneedle Street, London, England.
UBSCRIBED CAPITAL
REST
UNDIVIDED PROFITS,
.$7,500,000
($6,367,000)
SUBSCRIBED
($1,625,000)
PAID-UP CAPITAL,
CAPITAL, $95,741,700
- 19,946,187
RESERVE FUND,
17,951,568
Sir EDWARD H. HOLDEN. Bart.,
Chairman and Managing Director.
BERLIN.
Merchants’ Bank of Canada
HEAD OFFICE MONTREAL
CAPITAL
Rest and Undivided Profits
$6,000,000
4,602,117
NEW
YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY. lAgents*
C. J. CROOKALL.J
147 branches in the Provinces of Quebec, Ontario.
Manitoba, Saskatchewan, Alberta and British
Columbia. Good facilities for effecting prompt col¬
lections in Canada.
Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—Royal Bank of
Scotland.
Kanonlerstrasse 20 to 30.
Canadian Bonds
Branches:
ARGENTINA: Bahla-Blanca, Buenos Aires,
Oordoba, Tucuman.
■OLIVIA: La Pas, Oruro.
SfllLI: Antofagasta, Concepcion, Iqulque.Osorno,
MUNICIPAL AND CORPORATION
Berliner
Santiago, Temuco, Valdivia, Valparaiso.
PERU: Arequlpa, Callao, Lima, Trujillo.
■RUGUAY: Montevideo.
•PAIN: Barcelona, Madrid.
Handel8-Gesellschaft,
TORONTO
CANADA
BERLIN, W.,64
Bills sent for collection, negotiated or
advanced upon.
WOOD, GUNDY & CO,
Behrenstrasse 32-33 and Franzoslsche-Strasse 42
Drafts, cable-transfers and letters
of credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
• EORGE Y’D, LOMBARD ST.. LONDON. E.O.
Telegraphic Address—Handelschaft, Berlin
W. GRAHAM BROWNE & CO.
MONTREAL
ESTABLISHED 1856
CANADA
Canadian Bondi Bought,
Sold and Appraised
Banking Transactions of Every Description
Direction der
/
Disconto-Gesellschaft,
ESTABLISHED 1851
Capital,
Reserve,
-
-
-
-
-
-
-
M.110,000,000
M. 34,500,000
THE
BERLIN W. 43-44 Behrenstrasse
1REMEN, FRANKFORT-o-M., MAINZ;
HOOHST-o-M., HOMBURG v. d. H..
POTSDAM, WIESBADEN.
LONDON. E. C..
VAN OSS & CO.
HAGUE, HOLLAND
Place American Investments in
Swiss Bankverein
Schweizerischer
Bankverein
Europe
Tel. Address, Voco.
Codes: Hartfleld’s Wall St., W. U. & Ueber.
Bankverein Suisse
53 CornhUl.
Basle, Zurich, St Gall, Geneva
CAPITAL, fully paid,
$40,476,200
-
Agencies at Rorschach, Chlasso and Herlsau
M. 170,000.000.
$14,307,764
60,092,611.
LONDON OFFICE, 43
Lothbury, E C.
With the unlimited personal liability
of the following partners:
A. SOHOELLER.
|
M. SOHINCKEL,
D». A.SALOMONSOHN.
E. RUSSELL.
F. URBIG,
Capital paid
Surplus,
bank fur Chile und
Deutschland
-—,
M. 10.000,000 00
HAMBURG. WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA. CONCEPCION, SANTIAGO, TEMUCO,
VALDIVIA, VALPARAISO, VICTORIA; AND
IN
BOLIVIA (BANCO DE CHILE Y ALEMANIA. SECCION BOLIVIAN A), LA PAZ
AND ORURO.
r
LONDON A0ENTS:
DIRECTION
DER
DISCONTO-GESELL¬
SCHAFT. 53. CORNHILL. E. C
.
Frs.62,800,000
Frs. 16,330,000
National Discount
85 CORNHILL.
...
LONDON. E. C.
($5= £1 STERLING.)
NOTICE IS HEREBY
that the
GIVEN
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. 1H Per Cent Per Annum.
At 8 to 7 or 14 Days’ Notice, IX Per
Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from
time
to
time
ana
for
fixed
periods
CHINA. JAPAN. PHILIPPINES. STRAITS.8ETTLBMPNTfl
TMnT A
WADE
GARD’NER,
Agent.
36 Wall
St.
Wiener Bank - Verein
ESTABLISHED 1869
(fully paid)
-
$26,342,000
-
RESERVE FUNDS
-
-
■
t7.900.0M
(39,000,000 crowns)
$21,166,626
4.238,825
2.200,000
Reserve Fund
\In Silver— 16.000,000/
Reserve Liabilities of Proprietors
15,000,000
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
NEGOTIATE OR COLLECT BILLS PAYABLE IN
(130,000,000 crowns)
Cable Address—Natdls: London.
Subscribed Capital
Paid-up Capital
$16,000,000
81.000.000
Reserve Fund j In Gold... $15,000,0001
CAPITAL
Company, Limited
APITAL
M. 10.000,000 00
Head office: HAMBURG.
Branohes: RIO DE JANEIRO, SAO PAULO,
SANTOS. PORTO ALEGRE. BAHIA.
up,
....
Brasilianische bank
The
fUr Deutschland
CAPITAL
BAN SONG CORPORATION
Paid-up Capital (Hone Kong Currency)
RESERVE
M.
Hong Kong & Shanghai
upon
specially agreed terms.
Loans granted on approved negotiable securities.
PHILIP HAROLD WADE. Manager.
HEAD OFFICE
VIENNA
Branches in
(AUSTRIA
Austria-Hungary
Agram, Aussig a E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Ozernowitz, Fricdek-Mistek, Graz, Innsbruck,
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemysl,.
Prossnitz, St. Poiten, Tarnow, Teplitz,
Teschen, Villach, Wr. Neustadt
Branch in Turkey
Constantinople
AlJG. !‘i 1010.1
THE CHRONICLE
v
©arcadian.
THE CANADIAN BANK
OF COMMERCE
HEAL OFFICE. TORONTO
PAID-UP CAPITAL
S10.000.000
fUKPLUS
6,000.000
NEW
Nos.
16
AND
YORK
OFFICE:
Edward Sweet & Co.
Mackay & Co.,
BAN KERS
18
EXCHANGE PLACE
Wm. Gray and C. D. Mackintosh. Agents
Members N. Y. Stock Exchange
Buy and Sell Sterling and Continental Ex¬
change and Cable Transfers, Commercial and
Traveler’* Credi is.
Collections made at all points.
Banking and Exchange business of every de¬
scription transacted with Canada.
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Bankers & Brokers
34
Investment
PINE STREET
LONDON OFFICE—2 Lombard Street. E.O.
BANKERS IN GREAT BRITAIN.
The Bark of England.
The Bank of Scotland.
terest
Securities.
allowed
In¬
deposits.
on
NEW YORK
National
ESTABLISHED 1854
Lloyd's Bank, Limited.
Union of London and Smith’s Bank. Limited.
City Bank Building ’
55
Wall Street
NEW YORK
The Bank of
British North America
Established In 1836
Incorporated by Royal Charter In 1840
Paid-up Capital
ESTABROOK & CO.
£1,000,000 Sterling
600,000 Sterling
Reserve Fund
Head Office:
G Gracechurch Street,
London, E.O.
New York Office: 62 Wall Street.
H. M. J. McMICH A EL.I Agent*.
W. T. OLIVER.
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers’ Credits, available In any part of the
world.
Issue Drafts on and make Collections
tfi all parts of the United States and Canada.
BANKERS
Electric
Members New York and Boston
Stock Exchanges
WE OFFER
15 State Street,
24 Broad Street,
BOSTON
NEW YORK
-
BALTIMORE
MEREDITH,
President.
J. J. REED,
Vice-President
FARRELL, Secretary-Treasurer.
H. B. MACKENZIE,
Manager.
g
G. W.
A.
DIRECTORS:ALFRED BAUMGARTEN C. R. HOSMER
Cept. D. C. NEWTON (Montreal)
B. ROBERTSON
C. B GORDON
Bankers and Investment Dealers
Proven Public Utility Securities
CHICAGO
C. Meredith & Co., Limited
OH AS.
Light, Power and Street
Railway Enterprises with record*
of
established earnlngi
INVESTMENT SECURITIES
HARTFORD
Bold Brokers aod Financial Agents
WE FINANCE
Correspondence Solicited
ELECTRIC BOND & SHARE CO.
R. L. DAY
37 Wall St
CO.
35
NEW YORK
(Paid-Up Capital and Surplus, $4,900,001;
71 BROADWAY
NEW YORK
Congress Si
BOSTON
HIGH - GRADE INVESTMENT BONDS
ftflunlolpal and Railroad
MONTREAL
WILLIAM P. B0NBRI6HT & COMPANY
Members New York and
Boston Stock Exchanges
BANKERS
Mem ben of the New York Stock
Colorado Springs
COLORADO
Canadian
Investment Securities
Tucker, Anthony & Co
24 Broad Street
New YORK
Exchange
London
ENGLAND
Electric Power Securities
BANKERS & BROKERS
CORRESPONDENCE SOLICITED
89 STATE SI.,
9* BBOA It ST..
NEW TOBM
BOSTON
DOMINION SECURITIES
CORPORATION,
Toronto
Montreal
LIMITED
NEW BEDFORD
NOBWl OH
Members Boston and New York Stock
Exdiantes.
London, Eng.
Travelers* Cheques and Letters of Credit
INVESTMENT
Interest
HUNT A CUSHMAN
on
INVESTMENT TRUST CO.
LIMITED
Trustees-Transfer Agents
BOND DEPARTMENT
Canadian Corporation Bonds
MONTREAL
CANADA
35
BERTRON, GRISCOM & JENKS
Land Tide Building.
40 Wall Street
NEW YORK
PHILADELPHIA.
H. AMY & CO.
Send for our circular giving
details
St. James Street
MONTREAL
BANKERS
49 Wall Street
New York
Alfred Mestre & Co.
BANKERS
BANKERS
HANSON BROS.
Canadian Investment Securities
to Check
Congress St., BOSTON
INVESTMENT SECURITIES’
Dealers In
Deposits Subject
Bigelow & Company
1 HE
Investment Sacurltlea
SECURITIES
BANKERS.
44 and 46 Wall
Street, New York*
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Cretflf.
Members of the New York
Stock Exchange.
Dealers
in
Municipal, Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
37 Wall St.
NSW YORK
130 S. 15th St.
PHILADELPHIA
[VOL. LXXXXI
THE CHRONICLE
Y1
%KVfozx*
%xffatxs ont&iAt Ueto ^oxk.
Sell
We Buy and
J. J. B.
INVESTMENT BONDS
HILLIARD & SON
LOUISVILLE. KY.
(NO STOCKS)
Pittsburgh, Pa.
L. L. M’Clelland.
Kuhn.
See. & Treas.
PAID-UP CAPITAL. *500,000
A
BONDS
Specialty
Correspondents: WALKER BROS.,
71 B’way, N. Y.
President.
CHILDS & CHILDS
STOCKS AND BONDS
INVESTMENT SECURITIES
SAN FRANCISCO.
LOUISVILLE, KY
J. C. WILSON
Stock Exchanges
of Trade
SECURITIES.
Union Bank Building.
NEW YORK
Singer Bldg.
and
INVESTMENT SECURITIES
Wm. G. Hopper
& Co.
STOCK AND BOND BROKERS
a South Third Street,
PHILADELPHIA
Investments receive our spostal attention.
In¬
formation cheerfully furnished regarding present
holdings or proponed
Sts..
Chestnut and Third
Philadelphia.
f PHILADELPIA STOCK EXCHANGE
■MBERS i NEW YORK STOCK EXCHANGE
l CHICAGO BOARDiOF TRADE
REED
&. HUNTOON
Branch. Coronado Hotel, Coronado Beach.
Correspondents,
Harris, Winthrop & Co., New York & Chicago,
Bankers and Brokers
BARROLL & CO.
STOCKS AND BONDS
TENN.
NASHVILLE.
BONDS
H. W Heilman Bldg.
Merchants'Exch. Bldg.
San Francisco.
Los Angeles.
Lumbermen’s Bldg.. Portland
JOHN W. DICKEY
BROKER
AUGUSTA. GA
Southern
Wakefield, G&rthwaite & Co.
Securities
PACIFIC COAST SECURITIES
Invite Requests lor Information
We
WANTED
SECURITIES
Philadelphia. Pa.
E. B. JONES
A CO.
BONDS
Offerings of Southern Bonds
and Stocks
WILLIAM
NORFOLK, VA.
LOS ANGELES.
BUSH
E.
James H. Adams & Co.
AUGUSTA, GA.
CALIFORNIA BONDS
MUNICIPAL AND PUBLIC SERVI01
ATLANTA.
CORPORATION
SOUTHERN
higher rate of interest Gian bonds ef
the same merit issued in the East.
Correspondence Invited.
LOS ANGELES. CAL.
They yield
MUNICIPAL BONDS
YIELDING AH%
PHILADELPHIA
Morris Building,
TO 5^%
THE ROBINSON-HUMPHREY CO.
ATLANTA, GEORGIA
MOTTU & CO.
a
Joseph Ball Company
Orders executed for
the purchase and sale of
BONDS AND STOCKS
WE OWN AND OFFER
Members Los Angeles Stock
MUNICIPAL BONDS
Yielding 4M% and
Established 1892.
SAN FRANCISCO
let Nat. Bank Bldg..
Member The Stock and Bond Exchange
Specialists in
INACTIVE
421 Chestnut St*.
S. F.
and New York.
LOS ANGELES
SAN FRANCISCO
Investments.
SPARKS &. CO.
J. W.
Private Wire to Chicago
THOS. PLATER & CO.
AUGUSTA.
H. SL HOPPER.
Stock Exchange.
Exchange.
MEMBER (Chicago Board of Trade.
(Stock and Bond Exchange.
INVESTMENT SECURITIES
PHILADELPHIA.
W. G. HOPPER,
Members of Philadelphia
(New York Stock
NASHVILLE.
HENRY S. FRAZER
Local Stocks and Bonds
Taylor & Company
ETTSBUBGH
I Fourth Ave.
SECURITIES A SPECIALTY
PACIFIC COAST
John W. & D. S. Green
PITTSBURGH, PA.
H. P.
Municipal and Corporation
STREET RAILWAY SECURITIES
of
INVESTMENT
PHILADELPHIA
PORTLAND
INVESTMENT BONDS
Incorporated
Members
New York and Pittsburgh
and Chicago Board
MORRIS BROTHERS
BANKERS AND BROKERS
J. S. & W. S. KUHN
Junes S.
PORTLAND, ORE.
LOUISVILLE.
PITTSBURGH.
Exchange
4S8-434-435-436-4S7 SECURITY BUILDING
upwards
BANKERS AND BROKERS HILLYER INVESTMENT CO
ATLANTA, OEOROIA
LOS ANGELES
NORFOLK, VA.
WILLIAM R. STAATS CO.
DENVER, COL
BIRMINGHAM, ALA.
Established 1887
Otto Marx &. Co.
BANKERS AND
CALVIN BULLOCK
CITY TEAMWAY
BONDS
DENVEB
BROKERS
Municipal and Corporation Bonds
TO YIELD 4%
TO «%
Descriptive Circulars on Request
PASADENA
LOS ANGELES
BIRMINGHAM. ALABAMA.
MONTGOMERY.
STOCKS AND BONDS
MEYER & GOLDMAN
STOCKS AND BONDS
B. W.
Strassburger
SOUTHERN INVESTMENT
SECURITIES
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANGE
MONTGOMERY, ALA.
LOS ANGELES.
BALTIMORE
BUFFALO.
OFFICES:
BIRMINGHAM, \
ALABAMA
MONTGOMERY./
COLSTON, BOYCE &
MEMPHIS.
M.mbers Baltimore
JNO. L. NORTON
Local Stocks and Bonds.
CO
-
-
TENN.
SECURITIES
SPECIALISTS IN
NEW
JERSEY
SECURITIES
Ho better State
No better
15 EXCHANGE PLACE
Tele. S66 and 751
PROVIDENCE.
85 Exchange Street,
EDWIN R. CASE
Securities
JERSEY CITY
and
Buffalo and Western New York Securities
Richardson & Clark
NEW JERSEY.
Municipal
Corporation Bonds
Government,
86 Madison Avenue,
MEMPHIS,
BUFFALO, N. Y.
Stock Exchwico
INVESTMENT BONDS
SOUTHERN
JOHN T. STEELE
Providence, R. I.
Bonds, Stocks and Local
Private wires to Boston,
and New York.
.
Securities.
Philadelphia
ALBANY, N.Y.
PETER J.
CALLAN
INVESTMENT BANKER
Local, Listed and Unlisted
STOCKS AND BONDS
REAL ESTATE
Aug. 13
THE CHRONICLE
1910.]
VII
^atxfuvs and ^vorHevs outride Hew Swell.
CHICAGO.
CLEVELAND.
FRED. S. BORTON
GREENEBAUM SONS
ST
T. E. BORTON
R. C. ENWRIGHT
BORTON
BORTON
&
BANKERS
INVESTMENT SECURITIES
Corner Clark and Randolph Streets. Chicago.
LISTED AND UNLISTED
High-Grade Investment Securities.
STOCKS AND BONDS
Chicago First Mortgages and Bonds for sale.
Issue Letters of Credit for travelers, available In
all parts of the World.
A General Domestic and Foreign Banking Business
OF CLEVELAND AND NORTHERN OHIO
MEMBERS CLEVELAND STOCK EXCHANGE
GUAUDIAN BUILDING
Hayden, Miller & Co.
Harris &
F.
Co.
INVESTMENT SECURITIES
THE
MISSOURI SCHOOL BONDS
$32,000
Moberly
5% Bonds
Dated
July 15, 1910.
Due July
Optional July 15 1920. Assessed
$2,245,470.
Bonded debt $57,000.
14.000.
Price to yield 4.40 Per Cent.
Correspondence Solicited.
Sanford
Investment Bonds
$23,000
CLEVELAND. OHIO
ROOKERY
$20,000
{New York Produce Exchange.
Chicago Stock Exchange,
Chicago Board of Trade.
St. Louis Merchants’ Exchange.
Allerton, Greene A King
THE ROOKERY. CHICAGO
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
WEIL, ROTH & CO.
Co.,
(INCORPORATED.)
COMMERCIAL PAPER
CHICAGO
CINCINNATI
The Short, Stanton, Worthington Go.
(Successor to Short, Stanton & Co.)
Municipal and Corporation Bonds
BOUGHT AND SOLD
Union Trust
Building,
FRIEDLANDER
DEALER IN
Cincinnati Securities
CINCINNATI,
McCRUM
INVESTMENT 00.
Issues.
City of St. Paul 4 Hs
Correspondence Invited
iScAvea tiJAcie. fidt
INDUSTRIAL TRUST CO. BUILDINO
Building
'
of Trade.
Gas, Electric Lighting & Railway
Bonds and Stocks
SECURITIES
Application.
High Class 6% Bonds
60% Stock Bonus
particulars
BURGESS
Member Rochester Stock Exchange
ROCHESTER
N. Y.
Stevens, Chapman & Co.
BONDS
MINNEAPOLIS—ST. PAUL
M. St. P. & S. Ste. Marie is
Duluth Missabe & Northern 5s
South Dakota Centra] 5s
Minnesota & Ontario Power 6s
WELLS & DICKEY & CO
MINNEAPOLIS. MINN.
Twin City
A
CORPORATION BONDS
Rapid Transit System Bonds
Minneapolis National Bank Stocks
ST. LOUU
William R.
Compton Co.
Uehta.-Lsdsds Bldg.
IT. LOUIS
306 LaSalla It.
OHIOAQO
and other
HIGH-CLASS BONDS
DEALT Of
CIRCULARS AND LIST ON APPLICATION
tginattjcial.
NATIONAL LIGHT,
HEAT &. POWER COMPANY
6BONDS0
*"
A. H. Bickmore & Co.,
BANKERS
BODELL &
CO.
30 Pine Street.
New Yerk
206 TO 209 BANIGAN BUILDING
Preferred Stocks
of Proven Value.
Bonds and
MINNEAPOLIS.
MUNICIPAL
-
PROVIDENCE
Write Mr
104-105 Wilder Bldg.
300 N. FOURTH ST.
PROVIDENCE, R. I.
Local Securities
[New York Stock Exchange,
fNev
Rochester Stock Exchange,
JOHN A.
TO
MARKETS
PROVIDENCE.
BONBRIGHT & HIBBARD
on
WIRES
PRINCIPAL
Bank Bldg., St. Pant
ALBERT P. MILLER Jr.
Dally Lists Mailed
Special Attention to St. Louis 8eenrlt!e«
on
ROCHESTER, N. V.
ROCHESTER
Investment Securities
Twin City Telephone Co. 1st 5s
State Saving!
& CO.
MUNICIPAL
all Northwestern Securities
KANSAS CITY. MO
SPECIALISTS
New York City
OHIO
Twin City Rapid Transit 5s, 1928
Minnesota Transfer Ry. 5s, 1916
St. Paul Gas Light Co. 5s. 1944
Kansas City Ry. & Light
Western Municipals.
Local Securities.
St. Louis, Mo.
CINCINNATI
KANSAS CITY, MO.
jgficago Board
Population 2,774. County Seat
Price to yield 4.50 Per Cent.
PRIVATE
SAINT PAUL
Member.:
5% Bonds
A. G. EDWARDS A SONS
HIGH-GRADE
S. W. Cor. Monroe & La Salle Sts.. Chicago.
100 Powers
Kennett
Dated May 1, 1910.
Due $500 May 1, 1916:
1919 and 1923.
Due $1,000 May 1, 1924 and
1925.
Assessed
valuation, $720,632.
Bonded
WHITAKER
for Investment
Application
A. G. Becker &
H.
5% Bond*
Dealers in
EDGAR
W.
Charleston
High-Grade Bonds
ILL.
New York Stock Exchange.
New York Cotton Exchange.
New York Coffee Exchange,
on
5% Bonds
of Dunklin County.
Slaughter & Co.,
Liat
Population
Dated July 1, 1910.
Due July 1, 1930.
Oir
tlonal July 1, 1920.
Assessed valuation $l,060r
029.
Bonded debt $38,000. Population 3,600»•
County Seat of Mississippi County. Price 1 •
debt, $13,500.
BANKERS & BROKERS
139 MONROE STREET.
Members:
1930.
valuation
May 15, 1910.
Due May 15, 1930.
Optional May 15, 1915. Assessed valuation,
$681,872.
Bonded
debt
$26,500. Population
3,000.
County Seat of Dent County. Price to
yield 4.50 Per Cent.
CINCINNATI.
CHICAGO,
15,
yield 4.50 Per Cent.
CHICAGO
A. O.
Salem
Dated
$3,500
Citizens’ Building,
LOUIS.
INDIANAPOLIS.
AAnriivririJWirirA‘r‘**>*****"*",ll"l>********w*****M**ftM*M***AA*A*4>
Joseph T. Elliott & Sons
Investment Securities
Members Indianapolis Stock Exchange
American Nat. Bank Bldg.,
INDIANAPOLIS
NEWTON TODD
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Fletcher Bank Bids..
INDIANAPOLIS
The
audit
company
OF NEW YORK.
City Investing Building
165
Broadway
Telephone 6780 Cortland.
Audita and examinations.
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
WESTERN OFFICE
Now York Life
Building, Chicago
THE CHRONICLE
Tin
[VoL.
LXXXM
fgitttTurs atxd JSKtrftjeKs.
ERVIN & COMPANY
A. B. Leach & Co.,
BANKERS
(New York Stock
BANKERS
Members
Exchange,
jphila. elpMa 8t0<jk Exchange>
YORK
149 Broadway, NEW
BONDS FOR INVESTMENT.
140 Dearborn Street, CHICAGO
Drexel Building,
Philadelphia.
Long Distance Telephone Nq. L. D. 107.
28 State Street,
BOSTON
PARKINSON & BURR
C L HUDSON & CO.
Members New York and
>*6.266.922 21
900,684 60
8,681,379 19
32
Assets
Oasb in Vaults
-
-
-
-
HEAD OFFICE—HAVANA
Branches
84 GALIANO ST.. HAVANA.
226 MONTE ST., HAVANA.
NIW YORK.
7 Wall Street
63 State Street
NEW YORK
BOSTON
Collections
a
Specialty.
Sole Depositary for the Funds of the Republic of
Cuba
Member American Bankers’ Association
750 Main Street
Chicago Stock Exchanges
MATANZAS,
SANTIAGO,
CAIBARIEN,
SAGUA LA GRANDBi
CAMAGUEY,
CARDENAS.
TKNFUEGOS,
MANZANILLO.
GUANTANAMO.
SANTA CLARA.
PINAR DEL RIO.
SANCTT SPIRITUS.
CAMAJUANI,
CRUCES,
CIEGO DE AVILA,
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
BANKERS
Hot. 34-36 WALL ST.,
““ClViWSf IT-
PRODUCE EXCHANGE. HAVANA
PHILADELPHIA
Chestnut & 4th St,
NATIONAL BANK
OF CUB \
Cable Address—Banconao
HARTFORD
TELEPHONE #070 JOHN.
Miscellaneous Securities
E. W. CLARK & CO.
in all Markets
321 Chestnut St,
Members Phlla. and New York Stock Exchanges.
Interest allowed on deposits.
New York Correspondents
BANKERS
Membera of New
York stock Exchange
>o. 90 Busan Street,
-
HAVANA
76 CUBA STREET
BANKERS,
SIMON BORG & CO.,
OF
PHILADELPHIA
PRINCIPAL CTTIES
PRIVATE WIRES TO
BANK
George P. Schmidt
J. Prentice Kellogg
Frederic Gallatin Jr.
Albert R. Gallatin
William A. Lamed
Chas. H. Blair Jr.
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
John E. Gardrn )
Alvin W. KrechlNew York Committee
James H. Poet J
Acts as Cuban correspondent of Americas
banks and transacts a general banking business.
Capital, $1,000,000
New York SCHMIDT & GALLATIN
Members N. Y. Stock Exchange
111
HIGH-GRADE
Broadway
LADD
NEW YORK CITY
INVESTMENT SECURITIES
STOCK BROKER it
Memben N. 7. and Boaton
100 Broadway,
tel. #800 Rector
Private Wires to Boston, Hartford.
and Philadelphia
New Haven
WALKER BROS.
71 BROADWAY, N. Y.
INVESTMEMT
J. S. Ferlce.
subjeot to sight cheek.
stocks and bonds, and
railroad bonds
GUARANTEED STOCKS
W. S. Tar bell.
J. S. FARLEE & CO.
INVESTMENT
James G. MacLean
H. G.
H. L. Finch.
SECURITIES
11 WALL STREET.
Campbell & Co.
Deposits and Savings Accounts.
MELLOR & PETRY
Stocks, Bonds, Investment Securities
SECURITIES
MEMBERS NEW YORK STOCK EXCHANGE.
Brokers and Dealers In
Edwin P. Campbell
Henry O. Campbell
Interest paid on Time
194 SOUTH FIFTH ST.,
Members N. Y. Stock Exchange
NASSAU STREET. NEW YORK.
Established 1865
MBMBERS OF N. 7. STOCK EXCHANGE.
OFFICERS
W. M. Ladd, President.
R. S. Howard Jr., Asst.Cash
E. Cook Ingham, V.-Pres. J. W. Ladd, Asst. Cashier.
W. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Account* of Banks, Firms, Corporations and Individuals
solicited.
We are prepared to furnish depositors
every facility consistent with good banking.
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
BANKERS
OREGON
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
General Banking and Stock
Exchange Business.
A, M. KIDDER & CO.
Allow Interest on deposits
Boy and sell on commission
deal In
a
HEW YORK
-
& COMPANY
MEMBERS N. Y. STOCK EXOHANGS
Transact
-
BANK
Established 1859
24 NASSAU STREET
Stock Exchanges.
TILTON
PORTLAND
McCURDY,
Thomas L. Manson&Co. HENDERSON
&,
NEW YORK
PhlhuMphis
MEMBERS
NEW YOBK STOCK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BANKERS
111 BROADWAY, NEW YORK
DEALERS IN
D. H. Schmidt & Co.
U WALL STREET. NEW YORK
Members New York Stock Exchange
Members
Securities Bought A Sold on Commission
New
York
Stoek
Exchange.
Bonds and Guaranteed Stooka
Orders Executed in all Markets.
~johnhTdavis
InvMtmtnt Saourltlaa
& co.
BANKERS AND BROKERS.
William Herbert & Co.
87
WILLIAM
STREET
NEW
YORK.
MEMBERS N. 7. STOCK EXCHANGE
Hanover Bank
11 PINE STREET,
Simpson, Pearce & Co.
Building
-
NEW YORK
1910
UN
Jas. B.
Colgate & Co.
Members New York Slock
Exchange
Investment
Bonds.
E. & C. RANDOLPH
Members New
W. H.
Goadby & Co.
Bankart and Broktrs
HO. T4 BROADWAY,
NEW YORK
on
Deposits Subject to Check!
WM. FAHNESTOCK.
Memb. N. Y. Stock Ex.
T. J. MUMFORD
Fahnestock & Co.
Brokers and Dealers In
M Wail Stmt. New York.
Kambera
N. Y. Stock Ex.
INVESTMENT SECURITIES.
Interest Allowed
HI BROADWAY
NEW YORK
Telephones
4490-1'2-8-4 Rector
No. 10 WALL STREET.
Members N. Y. and Phlla. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchanges In this country and Europe.
Especial attention given to supplying high-dam
Ill
York
Broadway,
Stock
New
Exchange.
York.
Open Market Securities Department
HORACE HATCH. Manager.
Dealers In Investment and Other Securities of the
UnltedJStates and Canada
INVESTMENT SECURITIES
9 WALL STBEET.
VICKERS A PHELPS
M Wall Stmt. New York City.
Member, of New York Stock Exobanfe
BONDS
Cash orders only in stocks accepted
Aug. 13
1910.]
THE CHRONICLE
HtxgitxeeKS.
xx
(&xvcxznt JQbuA
Ququixizs.
WANTED
H. M. Byllesby & Co.
ENGINEERS
EXAMINATIONS and
$25,000 Nashville & Decatur Railroad
Portsmouth Kittery & York 6s
Mobile. Ala.
J. G. WHITE & CO.
Engineers, Contractors
Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
Investigations and Reports on Electric
Railway Gas Electric Light and Power
Properties. Irrigation Systems, &c.. for
Financial Institutions and Investors.
Eltctric
Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
London Correspondent*:
J7 State street
GOULDING MARR
Broker
NASHVILLE,
Inactive Bonds.
FOR SALE
Hudson River Water Power
5s, 1929
American Finance & Securities 6s
Page Woven Wire Fence 5s, 1922
Indiana Col. & East. Tract.
5s, 1926
Youngstown & Southern 5s. 1923
Douglas Shoe Preferred
Waltham Watch Preferred
American Investment Securities
Preferred
Railway 5s
FOR SALE
Kirby Lumber Co. Com. & Pref.
Butte Electric St Power Common
Coplay Cement Co. Common & Pref.
U. S. Envelope Preferred
Massachusetts Lighting Co.
Monaton Realty Investing
Corporation
Boston Securities Preferred
Norfolk & Western St. Ry. 5s
C. H. FARNHAM
ST STATE STREET. BOSTON
Telephone^ 3448 Main.
SIXTY
Operation
Public Utilities and Industrial*
WALL ST.,
NEW YORK
„
Reports for Financing
United Rys. of St. Louis 4a
Onion El. Lt.ft P. Co. of 8t.L. 1st 5a
Onion El. Lt.& P. Go. of St. L. Ref. 6a
Laclede Gaa Go. of St. Louis 1st 6a
Commonwealth Pr Ry & Lt
And
Constituent Companies’
Stocks and Bonds.
Wm.
415 Ford
Laclede Gaa Go. of St. Louis Ref. 6a
San. 0. Ry.& Lt. 5s &
Onderly. Sec's
H. U. WALLACE
FRANCIS, BRO. & CO,
ENGINEER
(ESTABLISHED 1877)
Examinations. Reports. Surveys, Supervision of
construction and
operation of Electric and Steam
Power Plants, Transmission
lines,
Stations and Irrigation
projects. Etc.
Ex-Supt. Illinois Central RR.: Chief Engineer
Illinois Central RR.: and Gen’l
Manager Chicago
Lake Shore & South Bend Electric
Railway.
CHICAGO, ILL.
Pennsylvania Tax Free Securities
BOUGHT AND SOLD
Edmond C. Van Diest
Robert McF. Dobie
Thomas L. Wilkinson
Associated Engineers Co.
Examinations, Reports Construction, Operation
Irrigation Enterprises a Specialty
DENVER, COLO.
Esta Dished 1S89.
A.
L.
REGISTER & CO.
Successors
to
Pepper St Register
ENGINEERS & GENERAL CONTRACTORS
112 North
Broad Street Philadelphia.
and Geologist
PHILADELPHIA.
PA
C. B. Van Nostrand
86 WALL STREET
INDUSTRIALS
Established 1864
Telephone 2817 Recto.
INSURANCE STOCKS
Fidelity, Phoenix, Home,
Niagara, Continental, &,e.
BOUGHT AND SOLD
E. S. BAILEY
BROADWA
:
69
k
■
Philadelphia
New York State Railways, common
Mohawk Valley Go.
Stocks and Scrip.
MALCOLM
60
NEW TORE
JAMES N. WRIGHT & CO
DENVER, GOLO.
Am. Tel. & Tel. Oonv.
4s, March 1986
Am. Tel. ft Tel. Ooll. Tr.
4b, July 1929
N. T.
GEORGE L. WARE
WANTED
St.
OFFER
Joseph Railway. Light. Heat
1st Mortgage 5% Bonds. 1937.
& Power Co.
Sutton,
Strother & Co.,
Calvert
Streets
BALTIMORE
Members of Baltimore Stock Exebange
155 Reetor
Memphis Street Railway
Northwest Union 1st 7s, 1917
Rochester & Pitts. Con. 6s, 1922
Buff. Roch. & Pitts.
4^s, 1957
St. Paul La Crosse & Dav. 1st
5s, 1919
City of St< Louis, Mo., Bonds
WOLFF & STANLEY
S. C. HENNING & CO.
71
Add. “MOWOLF" 27 William St.; R.
Y.
Phones 6557-6558-65S9 Broad
Broadway
NEW YORK CITY
Peoria Gas & Electric 1st Mtge. 5s 1923
Northern Indiana Gas & Elec. Cons. 5s, 1936
Public Service Corporation Gen. 5s, 1959
Norfolk & Portsmouth Traction 1st 5s 1936
SAM U EL K. PH ILLI PS & CO.
421 Chestnut St.
Philadelphia
Members of Philadelphia
Stock Exchange.
St. Clair Co. Qas & Elec. Co. 1st Cons.
5s, 1959
Specialize in Securities
Temple Iron
Klots Throwing
U. S. Lumber
Bet. 6s, 1956
Scranton Electric
Pa. Cent. Brewing
Northern Electric
Scranton Gas & Water
New Mexico Ry.& Coal Paint Creek
Collieries
Lacka. St W. V. R. T. W. B. St Wyo. V.
Trac.
BROOKS
CO.,
EMBERS NEW YORK STOCK EXCHANGE.
Sprues St.,
SCRAN TON, PA.
Sec. Nat. Bank Bldg.,
WILKES-BARRE, PA.
PHILADELPHIA Camssoadcnts: EDWARD
Telephone Lombard 1060-1061
&
BANKFRS
4z3
WURTS DULLES & CO
L25 S. FOURTH
Chicago Subway
Scranton Railway
Pa. Coal St Coke
1st Ref. 6s, 1916
Chattanooga By. & Lt. Oo., lit A
of
New River
Spring Brook Water
Mahoning tc Shenango By. & Lt. Oo.
ST.,
58 State St.. BOSTON
Grand Rapids Ry. Co. 1st M. 5%
Bonds, due 1916
Telephone.
ALL LOUISVILLE LOCAL SECURITIES
LOUISVILLE. KY.
Telephone 4^s, November 1989
Tel. §84 Main
STUART
Broadway.
116 So. 5th St..
and stock
and German
Railway, Gas & Electric
Portland Railway, Light & Powes
PROPERTIES
Examined, Developed, Managed
8ST Dretd Bldg.
& Co
Union
M. CHANCE
Consulting Mining Engineer
GOAL AND MINERAL
Bankers
119 S. Fourth St.
NEW YORK
ptiuiwfl Engineers.
H.
George B. Atlee
Building, Detroit, Mich.
& N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas St Electric 5s
Northern Idaho & Montana Power Co.
214 North 4th Street, ST. LOUIS
Railroads,
Central
Hughes Clarke
Nevada-California Power Co. bonds
Denver
DEALT IN BY
Mem f Am. Soc. C. E.
417Century Building
TENN.
-
F. W. MASON & CO.
INVESTMENT SECURITIES
TOCK EXCHANGE BUILDING.
BOSTON
Engineering and Construction
Marquette Bldg.
-
Michoacan Power 6s
Hudson Riv. Pow. Trans.
Rfg. 5s
Guanaj. Red. & Mines 6s & Stock
Central Mexico Light & Power 6s
Council Bluffs Water-Works 6s
Beloit (Wis .) Water 6s
Elmira Water, Light &
Uostoe
Michigan State Tei. 5s. 1924
Mason City & Fort Dodge 4s,
1955
C. G. YOUNG
^
years by
Louisville St Nashville Railway Co.
HOTCHKIN & CO.
J. O. WHITE A CO., Limited
9 Cloak Lane. Cannon St.. E. C.
Plans, Methods,
Price, 188 and Interest
Dividends guaranteed 999
York Haven Water & Power 1st 5s
Council Bluffs Water Works Co. 6s
Buffalo Lockport & Rochester ctfs.
H. C, Spiller A Co.
Specialists in
43-49
m% Stock
Michigan=Lake Superior Power 5s
New Hampshire Elec.
Ry. Stocks
Fresno City (Cal.) Water Co. 5s
EEPOETS
Springfield Breweries 6s
218 La Salle Street, CHICAGO
Portland. Ore.
Oklahoma City, Oklahoma.
FOR SALE
Glens Falls Gas & Electric 5s
Omaha Water Co. 5s and Stock
Seattle-Tacoma Power Co. Stock
B. SMITH St CO.,
27 Piae St.. New York City.
[VOL. LXXXXI
THE CHRONICLE
X
t&nxxmt
Fonda Johnstown & Gloversville
gottA
ixizs.
4J^s
G. W. Walker & Co.
Will Buy
International & Great Northern 3rd 4s, 1921
Nevada-California-Oregon 5s, 1919
Little Falls & Dolgeville 3s, 1932
Kansas & Colorado Pacific 6s, 1938
Minneapolis & St. Louis 4s, 1949
Cleveland Lorain & Wheeling 5s
Vicksburg & Meridian 6s, 1921
Alabama & Vicksburg 5s, 1921
Sloss Iron & Steel 6s
Sloss Iron & Steel 43^s
Chesapeake & Ohio Grain Elev. 4s
Chicago & Alton Deb. 5s
N. 7. & Queens Elec. L. & P. 6s
Nashv. Flor. & Sheffield 5s
6. W. Walker & Co.
Kansas & Missouri 5s, 1922
Southern Indiana 4s,
AND ALL OTHER STEAM RAILROAD
Santa Fe Prescott & Phoenix Ry.
First Mortgage 5% Bonds, due 1942.
SECURITIES DEALT IN
Chesapeake & Ohio Ry.
First Cons. 5% Bonds, due 1939.
Vicksburg Shreveport & Pacific RR.
Prior lien 6% Bonds, due 1916.
SPECIALISTS IN STEAM RAILROAD
Members N. Y. Stock Exchange
30
NEW YORK
STREET,
BROAD
SUTRO BROS. & CO.
Land Title & Trust Go. Building, PHILADELPHIA
39 Pearl Street, HABTPOBD
Minn. & St. Louis 4s, 5s
and 7s
Iowa Central 4s, 5s
Des Moines & Ft. Dodge
4s
95 Broad S*.9 Now Tor*
195|
J. USMAN & COMPANY,
SECURITIES
F.
TeL 100 Broad.
BANKERS
44 PINE STREET. NEW YORK
Members New York Stock Exchange
LIBBEY&STRUTHERS
55 Cedar Street
Robt.Glendinning &Cc.
YEW YORK
Keokuk & Des Moines 5s
400 Chestnut Street.
Chic. Rock Island & Pacific 4s, 6s
Philadelphia.
Western N. 7. & Pa. First 5s
A.. A.
LISMAN & CO.,
25 Broad St.. New York
Tel. 5950 Broad
H. L NASON A CO.
Shawmut
Bank
BOSTON,
Building.
Toledo Peoria & Western 4s
Long Island RR. Ferry First 4^s
Kansas City Ft. Scott & Memphis 4s
Wilkes-Barre & Wyo. Val. Tract. 6s
Wilkes-Barre Gas & Electric Co. 5s
Wyoming Valley Gas & Electric Co. 5s
Manufacturers' Water Co. First 5s
Westchester Lighting Co. First 5s
Central Pacific 33^s
Mississippi Cent. 1st 5s
Houston & Texas Cent. 4s
Central Branch
MASS.
Idaho-Oregon Light & Pow. 6s, 1929
Denver Gas & Electric 5s, 1949
Mop. 4s
Ches. & Ohio 43^s
FOR SALE.
Baltimore Elect. Co. 5s, 1947
Michigan City Gas & Elect. 5s, 1937
Lansing Fuel & Gas Co. 5s, 1921
Seattle Lighting Co. 6s, 1920
Duluth Edison Preferred Stock
Baltimore Electric Co. Pref. Stock
Bonds Suitable for Deposit with
State of Georgia by Insurance
Companies
J.
H.
constantly
on
HILSMAN
hand.
ft CO.
T. W. STEPHENS & 00.
BANKERS
2 WALL
STREET, NEW YORK.
BONDS
INVESTMENT
INVESTMENT
FOR SAVINGS BANKS
6 Months
4y2%
FERRIS ft WHITE,
Tel. 5527-8 Hanover
87 Wall St.. N. Y.
•t
Interest allowed on accounts of
Individuals and
Corporations
N. Y. N. H. & H. Deb. 4s, 1955
N. Y. N. H. & H. Deb. 4s, 1956
Boston & Maine 4J^s, 1929
Minn. Lynd. & Minn. 1st 5s, 1919
Col. New. & Zanesv. 1st 5s, 1924
Private
Clarksburg Fuel 5s
Kansas City Gas 5s
Houston & Texas Cent. 4s
Fonda Johnstown & Gloversville 4 Ms
Morgan’s Louisiana & Texas 7s
BOSTON
S4 Pin. StrMt
60 Stata StrMt
Baker, Ayling & Company
Sen Sen Chiclet
Texas (The) Company
FREDERIC H. HATCH & CO,
New York
Boston
30 Broad Street
50 Congress Street
WE OFFER—
Canton Electric Co. 5s, 1937
Terre Haute Indp. & Eastern 5s.
Omaha Gas Co. os, 1917
Atlantic City Gas Co. 5s, 1960
United Gas & Elec. Co. 5s,1922
Standard Steel Works 5s, 1928
1945
WE WA NTBald win Locomotive Works 5s, 1940
Penna. RR. Equipment 4s
Peoria Gas & Electric Co. 5s, 1923
REED A. MORGAN & CO..
West End Trust Bldg., Phlla.. Pa.
Members of the Philadelphia Stock Exchange.
Telephones. 1 Bell-Spruce 21-81.
I Keystone-Race 205
Denver Suburban Home & Water 6s,
1915
To net 6J^%
BLAKE & REEVES
Tel. 1504 John
84 Pine Street. New York
Telephone 2417-8-9 John
First
Railroad and Other
80 Broadway. New York
BONDS
Wire
NEW YORK
J. H. BECKER & CO.
Tel. 985 Rector
Niagara Falls Power
Safety Car Heating & Lighting
Col. Buckeye L. & New. 1st #5s, 1921
Ger. Amer. Gar Equip. 6s, 1913
N.Y.& Cuban Mail SS. 1st 5s, 1932
To net 7%
N. Y. Tel. 4J^s, 1939
BURGESS, LANC 8b CO.
WE WANT TO BUY
Somerset Coal 5s
Fairmont Coal 5s
Babcock & Wilcox
Butte Electric & Power Common
Rochester Ry. & Lt. 5s, 1954
EMPIRE BUILDINQ. ATLANTA. OA.
LEGAL
200
100
150
50
50
200
Mortgage Bonds
for
Investment Bonds
Conservative Investment
C. K. B. WADE
Pingree, McKinney & Co.
Tel. 6744 Hanover
49 Wall Street.
New Haven Debenture 4s, 1956
Pacific Telephone 1st 5s, 1937
Penna. Conv. 3^s, 1915
8
Congress Street,
Boston
National Park Bank
Goal & Iron National Bank
Union Exchange
National Bank
BOSTON
Phlfcdflphia
ProvidiiiM
CURTIS & SANGER
Members N.Y.. Boston A Cfeloago Steak
49 Wall Street
t
Boston
NEW YORK
Exchanges
LUTZ
8b COMPANY
Bank and Trust Company Stocks .
Broad
26
St., N. Y.
Tel. 273 Broad.
CUcnge
AUG. 13
1910.]
THE CHRONICLE
XI
©uwcent %on& gtiquMe*.
$20,000
Capital $5,000,000
Consolidated Water Co. of Utica
Gen. Mtge
5% Gold Bonds, due 1930.
Main Office:
Franchise perpetual.
Population served 80,000.
Capacity 12.000.000 gallons daily.
The Company does the entire water business of
Utica, N. Y.t and controls all the available
sources of water supply for the city.
Price to net
over
5
Guaranty Trust
Company
New York
Fifth Avenue Branch
Fifth Avenue & 43d Street.
STREET, N. T.
SAFE DEPOSIT VAULTS
Telephone 445-6-7 Rector
London
33 Lombard
N. Y. Lack & West. 1st
6s, 1921
San Fran. & North. Pacific 5s, 1919
Transacts
Mexican Central 1st Incomes
Mexican Central Ctfs. of Deposit
N.
a
Branch
Street, E. C.
General Trust
Foreign Exchange
Company Business
Investment
Offerings
P., St. P. & Dul. Div. 4s, 1996
NEWBORG & CO.,
MEMBERS N. Y. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4390 Rector.
Cable Address;
“NEWROSB”
PRIVATE WIRE TO ST. LOUIS
OFFERINGS WANTED OF
South Jersey Gas, Elec. & Trac. Co. 1st 5s, 1953
Decatur Ry. & Light Cons’ld 5s, 1933
WE OFFER
Choctaw Oklahoma & Qulf Cons’ld 5s, 1919
New York Central Equipment 4J4s, 1924
Edward V. Kane & Co.
North American Building.
PHILADELPHIA
Members Philadelphia Stook Exchange
Phones Bell-Walnut 2290
KeyBtone-Raoe 499
Catawba Power 6s, 1933
Cent. Ga. Power Bonds & Stocks
Fairmont Coal 5s, 1931
Ger.-Amer. Car 6% Trust Certfs.
Illinois Tunnel 5s, 1928
Mich. United Railway 5s, 1936
Peck, Stow & Wilcox Co. Stock
Schwarzschild & Sulzberger 6s, 1916
Simpson Securities 6s,
1929
Western Pacific 5s, 1933
MEGARGEL & CO.
8 Nassau Street
Celluloid Co. Stock
New Amsterdam Gas 5s, 1948
Central Union Gas 5s, 1927
Lexington Av. & Pav. Fy. 5s, 1993
Brooklyn City Ry. 1st 5s, 1941
Second Ave. Cons. 5s, 1948
PATERSON & CO*,
Tel. 1985-6-7 Rector
NEW YORK
U. S. Government 4s, 1925
Chic. Mil. & St. P. Gen. 4s, 1989
Michigan Central 3^s, 1952
Railway Equipment Issues
FREEMAN & COMPANY
Wabash 1st 5s, 1939
34 PINE
Kings Co. Elev. Guar. 4s, 1949
Colorado Midland 4s, 1947
Choctaw Okla. & Gulf 5s, 1952
Flint & Pere Marq. Consol. 5s, 1939
Tel. 7750 1-3-3 Hanover
7 Wall Street
NEW YORK
Auburn Qas First 5s, 1927
Chicago & Alton 3s
N. O. Mobile & Chicago Bonds and Scrip
Alabama State 4s and 3 Hs
Canada Southern 1st 6s, 1913
DOUGLAS FENWICK & CO.
34 WALL ST
PORCUPINE
Write for our
synopsis of the Official Report
Toronto.
Swartwout &
upon
request
Jo$epl){UalRer&$on$
MembersNewYork Stock Exchange,
Broad
St.
New
Private wire to
York.
Philadelphia.
Coffin & Company
NEW TORE.
WANT
Panhandle 4^£s, Series “A” & “B”
Lehigh Valley Terminal 5s
Southern Railway 1st Consol.
OFFER
Erie 1st Cons. 7s, 1920
Lehigh Valley of N. Y. 43^s
New York & Northern 5s
Appenzellar
BANKERS
Member* N. Y. Stock Exchange
NEW YORK CITY
Light & Traction Co. Stocks
Amer. Gas & Elect. Co. Stocks
Tri-City Ry. & Light Co. Stocks
Commonw. Pow. Ry. & Lt. Co. Stks
Pacific Gas & Elect. Co. Stocks
Underwood Typewriter Co. Stocks
list sent
5s
»
LAMARCHE A COADY,
Tel. 1776-6 Broad.
25 Broad St.. N. T.
25
50
63
10
100
120
50
5
Alliance Realty
American Caramel Com.
United States Motor Com.
Chase Natl. Bank
Hartford Carpet Pfd.
New York Curtain
Texas (Oil) Co.
Title Guarantee & Trust
We have good markets In unlisted and
Inactive
securities and respectfully Invite
inquiries.
J* K. Rice, Jr. Sc Co.
‘Phones 7460 to 7466
Hanover.
33 Wall
St., N.Y.
OILMAN & CLUCAS
Dealers in High-Grade
INVESTMENT BONDS
1st Nat. Bank Bldg..
34 Pine Stree
NEW HAVEN, CT.
NEW YORK j
Biograph Company
Crip. Crk. Cent. Ry. Pref. & Com.
N. Y. State Rys. Pref. & Com.
Western Pacific Ry.
WM. M. CLARKE
Tel. 1015-16-17 Rector
20 Broad
St.. N
Y.
Fonda Johnst. & Glov. 4*^s, 1952
Atl. Coast Elec. RR. 1st 5s, May, 1945
United Lead Deb. 5s, 1943
Utah Light & Power 4s and 5s
LEONARD SNIDER
60 BROADWAY NEW YORK.
Telephone 1620 Rector.
Wilkes-Barre & Eastern R.R. 1st.5s,
June
1942
BOUGHT AND SOLD
W. E. R. SMITH & CO.,
20 Broad Street
-
-
New lark
“Big Four” Notes, 1911
Dayton & Michigan 5s, 1911
Minn. & St. Louis, Southwest. 7s, 1910
Baltimore & Potomac 6s, 1911
Mexican Central 4s, 1911
Baltimore & Ohio Notes, 1911-1913
Seaboard Air Line 5s, 1911
Mutual Union Telegraph 6s, 1911
Southern Pacific of California 6s, 1912
St. Louis & San Francisco 4J^s, 1912
St. Paul East Grand Trunk 6s, 1912
Short-Term Issues
WERNER BROS. Sc GOLDSCHMIDT
Tel. 4800-1-2-3-4-5 Broad.
4
J. K. Rice, Jr. & Co. Will Sell
Maryland Del. & Virginia 5s, 1955
Equipment Bonds and Car Trusts
Amer.
Guaranteed Stocks
Adams Express
Amer. Coal Products
American Express
American Press Assn.
Del. Lack. & West. Coal
Hartford Carpet Com.
Internat. Silver Pfd.
100 Int. Time Recording Com.
25 Broad St.. New York.
44 Pine Street
Tax-Exempt
25
50
50
100
50
100
50
Amer. Gas & Electric Pref. & Com.
Government geologists have defined
the gold-bearing area in
WARREN, GZ0WSKI & CO.
Passaic. N. J.. Water 4s and 5s
Tel. John 109
STREET. NEW YORK
J. K. Rice, Jr. & Co. Will
Buy
Telephone 5089 John
EYER & COMPANY
Descriptive
30 Broad St.. N. Y
United N. J. RR. & Canal 3^s, 1951
BANKERS
20
28 Nassau Street
of
3^%
Glide, Winuiill
&Co.
BANKERS
20 BROAD
Surplus $18,000,000
Established 1864
25 Broad Street, N. Y.
[VOIi. LXXXXI
THE CHRONICLE
XIX
IPuatucial.
g-itxattxial.
Nederlandsch Admmistratie- & Trustkantoor
(NETHERLANDS ADMINISTRATION & TRUST COMPANY.)
215 Slngel - AMSTERDAM. (Holland.)
(fritiztus Central
atimml gatilt
Preaid it
H. MEINE8Z,
Board of Directors*
Chairman.
H. WALTER. L. D..
Chajr
de Kock & Uyt den Bogaard.
Ph. MEES.
R. Mees & Zoonen.
„
A. A. H.
BOISSEVA1N.
Director of Swiss Bankvereln and
of Labouchere, Oyens & Co’s Bank.
President.
G. H. DE MAREZ OYENS.
Labouchere, Oyens & Co’s Bank.
A. L. G. H. PICHOT
Westerwoudt & Co.
W. M. SCHEURLEER.
Scheurleer & Zoonen
Banker.
P. M. J. QILISSEN.
Arnold Glllssen.
AUG. KALFF.
Jan Ealff & Co.
as
as
Executor,
Trustee of
gtw
H. MEINESZ.
J. A. DUYNSTEE,
Telders & Co.
F. Th. EVERARD.
Acts
Acts
of
320 BROADWAY
Edwin S. Schenck. President
Francis M. Bacon Jr.. Vice-President
Guardian, Agent, etc
Administrator, Trustee,
Corporation Mortgages.
Albion K. Chapman. Cashier
Jesse M. Smith. Asst. Cashier
Janies McAllister. Asst. Cashier
W. M. Haines. Asst. Cashier
Capital
$2,550,000
Surplus and Profits $1,600,000
Stone & Webster
147 Milk Street,
BOSTON
First Natl. Bank Bldg,
I Nassau Street
NEW YORK
CHICAGO
We offer for Investment
Securities of
Public Service Corporations
under the management
1. F. DOMMERICH &
General Offices, 57
SOLICIT MERCANTILE
organization
Our Manual
describing these companies will be sent
ACCOUNTS TO FINANCE
upon
AGENTS
AND
yield
5% to 6&%
Greene Street
DISCOUNT AND GUARANTEE SALES
NO
our
to
NEW YORK
j
CARRY
of
OTHERS
request.
GOODS FOR OWN ACCOUNT
WEBB & CO.
INVESTMENT SECURITIES
MELLON NATIONAL BANK
PITTSBURGH, PA.
As your reserve depositary,
bank offers you perfect service
liberal interest
on
your
WkKntzti.
SALESMEN—A well es^
desires services of
two best salesmen obtainable for Michigan and
Pennsylvania
to
sell municipal bonds. To
WANTED—BOND
this
and
tablished Chicago bond house
balances.
high-grade men with well-established
will pay $5,000 salary in addition to
expenses and liberal commission.
Men worth
less than this need not apply.
Communications
strictly
clientele
$7,000,000
CAPITAL AND SURPLUS,
Have no one in territory
applicants need not fear writing their
Address Bonds, care Finan¬
present connections.
cial Chronicle. P. O. Box 958, N. Y.
strictly confidential.
now,
conservative bankers, brokers and
Investors have constantly before them
The most
BABSON’S REPORTS
Fundamental Conditions
concerning these Reports or our
Barometers” (which we Install In banks
For details
“Business
both for their own
Babson’s Compiling
Largest Statistical
> TO
RAILROAD
CORPORATION
BONDS
) 6%
Lists Mailed Upon
BROADWAY.
Organization in the V. S.
Application.
Lawrence Barnum & Co.
and customers’ use) address
Offices, Wellesley Hills, Mass.
NEW YORK OFFICE, S3
) 4%
MUNICIPAL
Selected for Conservative Investors.
ON
BANKERS
J7-2S
PINE
STREET.
NEW
YORK
b
Philadelphia
NEW YORK
74 BROADWAY
Washington
Pittsburgh
so
YOUNG MAN, 20 years experience, thoroughly
understands the stock and bond business, wishes
Manager, in a bond house
build up a clientele
among investors and where ability and hard work
be
would
appreciated. Can furnish the best of
Address ‘‘R. F. H.
references from large houses.
care Commercial and Financial Chronicle, P. O.
position
as
Cashier
or
where there is opportunity to
Box 958 N. Y. City.
BOND FIRM desires general or special partner
with $50,000, or more, capital.
Now operating
in an unusually safe and profitable field, with
large possibilities.
One of the few lines not
affected by panics or depressions.
Principals
only.
Address M. R. H., care Chronicle, P. O.
Box 958, N. V.
WANTED—Bond Salesman with individual
clientele in N. J.
Address A. B. C., care Chron
icle, P. O. Box 958.
Aitg.
131910.]
THE CHRONICLE
XIII
ginanjctal
Union Pacific Railroad
Company.
A Semi-Annual Dividend of
$2.00
DETROIT TOLEDO & IR0NT0N RAILWAY COMPANY
share on the Preferred Stock
and a Quarterly Dividend of
$2.50 per share on the Common Stock
of this Company have this day been declared,
payable at the Treasurer’s office, 120 Broadway,
New York, N. Y., on October 1, 1910, to stock¬
holders of record at 3 o’clock p. m. on Monday,
September 12, 1910.
per
REORGANIZATION COMMITTEE
TO HOLDERS OF CONSOLIDATED
MORTGAGE BONDS
OF THE
The stock transfer books will be closed at 3
o’clock p. m. on September 12, 1910, and will be
reopened at 10 o’clock a. m. on October 13, 1910.
Stockholders who have not already done so are
requested to promptly file mailing orders for divi¬
dends with the undersigned, from whom blank
orders can be had on application.
DETROIT TOLEDO & IR0NT0N RAILWAY COMPANY
The Detroit Toledo & Ironton
Railway Company having made default In the payment o
Interest obligations, and foreclosure suits
having been Instituted, a reorganization of
the Company is the
only means by which the Interests of the security holders
may be pre¬
served and rehabilitated.
There Is a prospect that largely Increased
earnings may be had
by new and sufficient tonnage, provided that
security holders, and particularly the holders
of Consolidated
Mortgage Bonds, unite In measures Intended to readjust the finances
of
the Company, procure new
equipment, and Improve the operating conditions of the
railway.
To that end, the
undersigned, at the request of holders of a large amount of the
securlltes,
have consented to act as a
Reorganization Committee, and have executed and lodged with the
Windsor Trust Company, No. 59 Cedar
N.
Street,
Y. City, as Depositary, an agreement,
copies of which may be obtained from the
Depositary or from the Secretary of the Committee.
Holders of
Consolidated Mortgage Bonds are Invited to become
parties to the agree¬
ment by depositing
their bonds on or before September 15, 1910,
with the Windsor Trust
Company, In negotiable form, with coupons of and
subsequent to February 1, 1908.
Cer¬
tificates of Deposit will be Issued for
bonds deposited.
FREDERIC V. S. CROSBY, Treasurer.
Its
New York, N. Y., August 11, 1910.
SOUTHERN PACIFIC CO.
DIVIDEND NO. 16.
quarterly dividend of One Dollar and Fifty
Cents ($1 50) per share, being the Sixteenth
dividend on the Common Capital Stock of this
Company, has been declared, payable October 1st,
1910, to the Bearers of Dividend Warrants No. 16,
annexed to certflcates representing such stock,
upon presentation and surrender of such Warrants
to the undersigned Treasurer at the office of the
Company, 120 Broadway, New York.
A. K. VAN DEVENTER, Treasurer.
New York, August 11, 1910.
A
In the judgment of the
Committee, the Interests of security holders require prompt con¬
certed action, and bonds should
therefore be deposited within the time above limited.
COMMON STOCK DIVIDEND NO. 29.
Office of
Dated August 12, 1910.
THE COLUMBUS RAILWAY COMPANY
Columbus, Ohio, August 9th, 1910.
The Board of Directors has this day declared the
regular quarterly dividend of One and OneQuarter Per Cent upon the Common Stock of
The
Columbus
Railway
Company,
payable
September 1st, 1910, to stockholders of record at
the close of business August 15th, 1910.
Checks
will be mailed.
HERBERT M.
JOHN ALVIN YOUNG, Chairman.
President Windsor Trust Co., N. Y.
STRATHEARN HENDRIE, Detroit, Mich.
JAMES RUSSELL SOLEY, New York.
GUTHRIE, BANGS & VAN SINDEREN,
New York.
JOSEPH B. FORAKER, Cincinnati, Ohio.
BURINGTON,
Secretary.
LEO M. BUTZEL, Detroit, Mich.
THE PENNSYLVANIA RAILROAD COMPANY.
Philadelphia, August 1, 1910.
The Board of Directors has this day declared a
quarterly dividend of One and One-Half Per
Cent (Seventy-five Cents per Share) upon the
Capital Stock of the Company, payable on and
after August 31,1910, to stockholders as registered
upon the books of the Compnay at the close of
business, August 5, 1910.
Checks will be mailed
to stockholders who have filed permanent dividend
Counsel.
F. ROSS WILLIAMS,
Treasurer Cincinnati Trust Co., Cincinnati.
BENSON FORAKER, Cincinnati, Ohio.
GEORGE W. YOUNG.
Of George W. Young & Co., Bankers, N. Y.
GEORGE H. WORTHINGTON,
President Union National Bank, Cleveland.
FRANCIS HENDERSON,
HOWARD
C.
26
orders.
DICKINSON, Secretary,
Exchange Place, New York.
Vlce-Pres. Knickerbocker Trust Co., N. Y.
JAMES J. ROBISON,
Pres. Ohio Sav. Bank & Tr. Co., Toledo, O.
WARREN W. FOSTER, New York.
Committee.
JAMES F. FAHNESTOCK. Treasurer.
Office of the
ST. JOSEPH RAILWAY, LIGHT, HEAT
& POWER CO.
St. Joseph, Mo., August 11, 1910.
The Board of Directors of the St. Joseph Rail¬
way, Light, Heat & Power Co. has declared a
quarterly dividend of One-Half of One Per Cent
(X of 1%) upon the Common Stock of the Com-
The Columbus & Hocking
AMERICAN SECURITIES
Coal & Iron Company
AND
to stockEany,
old
payable
1st,business
1910, August
of record September
at the close of
15,
ers
1910.
Checks will be mailed.
G. L. ESTABROOK,
The Board of Directors has declared from the
net earnings a dividend of 2 per cent on the First
Preferred Stock of the Company, to be paid on
September 10, 1910, to the stockholders of record
at the close of business August 24, 1910.
Checks
will be mailed to stockholders who have filed
dividend orders with the Treasurer.
W. R. TAYLOR, Secretary.
Office of
H. M. BYLLESBY & COMPANY,
Engineers.
Managers.
Chicago.
The Board of Directors of the MOBILE ELEC¬
TRIC COMPANY of Mobile, Alabama, has de¬
clared a quarterly dividend of one and one-half
per cent (1 lA%) upon the preferred stock of this
company, payable by check August 15th, 1910, to
stockholders of record as of the close of business
PACIFIC
1910.
ROBERT J. GRAF, Secretary.
OAS
AND
ELECTRIC COMPANY,
SAN FRANCISCO. CALIFORNIA.
A quarterly dividend of $1 50 per share
upon
the preferred stock of this company,
covering the
commencing
May
1910, and
Jerlod
uly 31st,
1910, will be
paid1st, August
15th,ending
1910,
on
to shareholders of record at 11:00 o’clock A. M.,
August 1st, 1910.
The transfer books of the com¬
pany will not be closed.
Checks for the dividend
will be mailed.
PACIFIC GAS & ELECTRIC COMPANY,
D. H. FOOTE, Secretary.
San Francisco, California, August
1st, 1910.
Office HOMESTAKE MINING CO.
BUILDING, 15 BROAD STREET,
New York, August 11th, 1910.
DIVIDEND NO. 429.
Dividend No. 429 of Fifty (50) cents
per share
has been declared payable at the Transfer
Agency
In New
MILLS
York
the 25th Inst.
Transfer books
close on the 20th Inst.
LOUNSBERY & CO., Transfer
on
Agents.
PEOPLE’S
GAS
LIGHT &
COKE COMPAN
(of Chicago).
Notice Is hereby given that a dividend
of ON
AND THREE-QUARTERS PER CENT
(l X%
has been declared on the capital stock
of th
Company, payable on August 25th, 1910, to tt
stockholders of record at the close of
business o
August 3d, 1910.
L. A.
WILEY, Secretary.
Notice is hereby given that, pursuant to the
terms of the Deposit Agreement dated
May 12,
1910, the undersigned Committee have formulated
Plan and Agreement for the reorganization of
The Columbus & Hocking Coal & Iron Company,
and have lodged the same with Bankers’ Trust
Company, Depositary, No. 7 Wall Street, New
York City.
Holders of Certificates of Deposit under said
Deposit Agreement who do not assent to such
Plan and Agreement may withdraw the securities
represented by their certificates on or before
September 7, 1910, upon surrender thereof and
upon payment of their pro rata share of the ex¬
penses theretofore Incurred by the Committee.
All holders of such certificates of deposit not so
withdrawing within the time aforesaid will be
bound by said Plan and Agreement.
Holders of First Mortgage Bonds, Second Mort¬
gage Bonds, Preferred Stock and Common Stock,
who have not deposited their securities under said
Deposit Agreement may become parties to said
Plan and Agreement by depositing their securities
with the Depositary on or before September 7,
1910.
Holders of notes, claims or other obligations
or demands against the Company may become
parties by depositing such claims with the De¬
positary on or before September 7, 1910, accom¬
panied by assignments thereof to the Committee
for acceptance by the Committee when certified
a
by the Auditor of the Company.
No securities or claims will be received after the
above dates except upon such conditions or
penalties as the Committee may impose.
Copies of the Plan and Agreement may be ob¬
tained at the office of the Depositary or from any
member of the Committee.
FRANK B. KEECH,
ALEXANDER GILBERT,
FRANK N. B. CLOSE,
Committee.
BANKERS’ TRUST COMPANY, DEPOSITARY
7 WALL STREET, NEW YORK CITY.
We
own
ADAMS EXPRESS COMPANY.
York, August 10th, 1910,
The Transfer books of this
Company will be
closed from 3 o’clock P. M.
August 15th to the
morning of September 1st, 1910.
1
’•
BASIL W.
ROWE,
’
Vice-President
&
Treasurer.
continued
several entire issues of tax-exempt bonds
which comply with all requirements of
the law as to the investment of trust
funds.
We will be pleased to submit
full details upon application.
BANKERS
31 NASSAU STREET
'
NEW YORK
depends
supply of
capital.
This
cannot
we
foreign
investor
have
has
unless
the
confidence
in
business methods and the fairness
of our laws relating to railroads and
our
industrial corporations.
How we may counteract the influ¬
ences to undermine this confidence is
described in the new book:—
Confidence
or
National Suicide?
*
By Arthur E. Stilwell
(President Kan. City Mexico & Orient Tty*)
Issued from the Press
Aug. 22.
ORDER TO-DAY
CLOTH
BOUND, $1 00
BANKERS’ PUBLISHING GO.,
253
Broadway, New York.
6% BONDS
of
Electric
Railway and Lighting Co.
Large City—State Capital
Earnings about 3 times interest charges.
on stock. Present price very low.
Dividends
W. E.
R. M. GRANT & CO.
prosperity
upon access to the world’s
ESTATES
™
-
Our
and offer to Trustees
and Executors
THE
>
F0REI6N INVESTORS
Secretary.
OFFICE OF READING COMPANY.
Philadelphia, August 9, 1910.
July 30th,
REORGANIZATION
HUTtON
4, CO.
Members New York Stock Exchange
Established 1886
25 Broad Street.
-
New York
Plrivate wires to Cincinnati, Chicago. San
Francisco and Los Angeles.
[VOL. LXXXXt.
THE CHRONICLE
XIV
gtwanjciaX*
Codes Used;
Cable Address:
Lieber and ABC 5th Edition
"Hought” Chicago
Peabod^Houghteling &Go.
(Established 1865)
181 La Salle Street,
CHICAGO
We carry
at all times a conservative line of
high-grade Investment Securities, including:
CHICAGO REAL ESTATE MORTGAGES
In amountsof from$10,000 to
$100,000each, secured
valuable improved Chicago Real Estate.
upon
of security, quality of improvements, de¬
sirability of location and income value is the result of over forty years' active and continuous experience
in the Chicago field. Such mortgages yield from 5 to 6%.
Our
judgment in such important requirements as valuation
CHICAGO REAL ESTATE SERIAL GOLD RONDS
In denominations of $500 and $1,000
each, secured by first mortgage upon high-grade modern
Manufacturing Buildings, or large modern down-town
Buildings—a most convenient and desirable form of investment yielding from 5 to 6%.
Apartment Buildings, well-located Mercantile or
Office
RAILROAD, CAR EQUIPMENT AND TRACTION
RONDS
of security, successful history, ample
to 53^%.
Having behind them in every case a substantial margin
earnings and sound management.
'.
Such bonds yield from
i
STEAMSHIP RONDS
Steamships on the Great Lakes enjoy
an enviable reputation in the investment market.
After a most searching investigation, we have
been unable to discover a single instance of default in interest or principal in such issues. Such bonds
First
Mortgage Serial Bonds secured upon modern Steel
legal investment for Michigan Savings Banks and yield
are a
5%.
INDUSTRIAL RONDS
Iron Ore Lands, which are steadily
increasing in value, and which are so developed as to have ample income-producing capacity for the
protection of principal and interest. Also the bonds of well-known manufacturing corporations having
long-established and successful histories. The margin of security in such bonds is invariably very
large, and the bonded debt is always payable in substantial annual or semi-annual amounts, thereby
Increasing the value and safety of the investment from year to year. These bonds net from 5 to 6%.
Secured upon
such staple natural resources as Timber, Coal and
\
SEND FOR DESCRIPTIVE
CIRCULARS
NOTICE
We
are
in the market for entire issues of bonds of the character
cordially invited, and will receive our prompt attention.
indicated above.
Offerings are
finattrml
W,
oimncrcia
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial
Section
Bankers’ Convention Section
VOL. 91.
SATURDAY, AUGUST
(Lhvonxtlt.
For One Year
For Six Months
Subscription—Payable
in Advapce
6
13
7
£2
£1
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including
postage)
Six Months
Subscription in London (including postage)
Canadian Subscription (including postage)
00
00
50
14s.
11 s0
$11 50
Subscription includes following Supplements—
Terms of
Transient matter per
yearly)
Bankers’ Convention (yearly)
-Per Inch
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space (14 agate lines)
Two Months
(S times)
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OFFICE—Pliny Bartlett, 513 Monadnock Block;
TeL Harrison 4012
LONDON OFFICE—Edwards & Smith, 1
Drapers’ Gardens, E. C.
WILLIAM B. DANA
COMPANY, Publishers,
P. O. Box 958.
Front, Pine and Depeyster Sts.,
New York.
Published every Saturday morning by WILLIAM B. DANA COMPANY
William B. Dana, President; Jacob Seibert Jr., Vice-Pres. and
Sec.; Arnold
G. Dana, Treas. Addresses of all, Office of the
Company.
CLEARING-HOUSE RETURNS.
following table, made up by telegraph, &c.. Indicates that the total
bank clearings of all clearing houses of the United States for week
ending
to-day have been $2,581,879,470, against $2,775,301,633 last week and
$3,098,030,308 the corresponding week last year.
1910.
1909.
—23.6
—12.5
54,172,418
12,408,887
$1,555,504,053
121,993,137
101,875,370
22,233,418
213,982,375
52,883,808
12,623,142
$1,686,737,790
451,167,293
$2,081,095,303
420,978,462
—18.9
Philadelphia
Baltimore...
Chicago
200,105,027
....
St. Louis
New Orleans
...
Seven Cities, 5 days
Other Cities, 5 days
...
Total all cities, 5 days..
All cities, 1 day
$2,137,905,083
443,974,387
Total all cities for week
Per
Cent.
$1,189,004,708
106,762,207
102,070.939
22,213,604
New York
Boston
$2,581,879,470
+ 0.2
—0.1
—6.5
+2.4
—1.7
+7.2
$2,502,073,765
595,956,633
—14.6
—25.5
$3,098,030,398
—16.3
The full details for the week covered by the above will be
given next Sat¬
urday. We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
of 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, August 6, for four years.
Week
Clearings at—
New York.
Philadelphia
Pittsburgh
....
Baltimore
Buffalo..
Washington
Albany
Rochester
Scranton
Syracuse
Wheeling
Wilmington
Wilkes-Barre
Reading
...
Harrisburg
York
Trenton
Erie
Binghamton
....
Chester
.
Greensburg
Altoona
Franklin
...
Total Middle..
Boston
Providence
Hartford
New Haven.
Portland
..
Springfield
Worcester
Fall River
New Bedford....
Holyoke.
Lowell
ending August 6.
1910.
1909.
Inc. or
Dec.
$
$
%
1908.
1907.
S
$
143,078,724
7,064,400
4,266,311
2,663,117
2,185,012
1,957,791
2,217,227
851,198
849,466
519,736
488,329
—20.4 1,770,876,224 1,834,002.435
171,902.286
—16.8
7,004,900
4,295,083
2,861,878
+0.8
—0.7
—6.9
—7.5
2,361,739
1,700,000
1,541,621
992,317
—14.2
767,801
480,373
429,359
+ 10.7
+ 8.2
+ 13.8
+ 15.2
+ 43.8
138,228,102
5,789,400
3,350,519
2,587,233
2,014,157
1,580,974
1,399,736
775,466
750,298
448,296
441,940
139,172,622
7,116,800
3,431,081
2,243,792
2,121,803
1,900,000
1,409,367
936,548
574,774
518,271
551,146
Total New Eng.
166,141,311
194,337.357 —14.5
157,366,121
159,976.204
Note.—For Canadian
clearings see "Commercial and Miscellaneous News.”
..
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
Dayton
Evansville
Kalamazoo
Fort Wayne
Youngstown
Lexington
South Bend
Quincy
Akron
Decatur
Bloomington
Rockford
Canton.
__
Springfield, O...
Mansfield
Danville
Jackson
Jacksonville, Ill.
Ann Arbor
Adrian
NO. 2355
Week ending August 6.
1910.
1909.
Dec.
1908.
S
$
%
$
252.683,744
21,770,300
19,804,534
17,485,677
11,636,763
9,904,235
6,056,100
4,319,878
2,740,194
2,964,656
2,171,218
2,191,412
1,165,542
1,026,642
1,080,417
1,268,180
667,537
506,876
576,766
866,000
474,667
564,807
616,767
951,286
449,415
333,048
412,250
410,1 00
329,986
—3.3
261,329,550
26,944,500 —19.2
19,039,145
+ 4.0
16,345,151
+ 6.9
—1.5
11,816,593
8,855,852 + 11.9
7,037,700 —14.0
3.711,148 + 16.4
—2 6
2,812,616
2,704,077
+ 9.6
1,876,961 + 15 7
+ 3.2
2,124,163
1,402,986 —16.9
1,023,232
1,045,795
891,690
646,426
486,042
639,119
625,000
553,379
516,256
568,917
706,921
401,920
318,054
1
190,000
38,980
500,000
368,545
343,918
325,166
172,672
21,828
462,300
337,874
+0.3
+ 3.3
+ 42.3
+3.2
+ 4.3
—9.8
+38.6
—14.2
+ 9.4
+ 8.4
+34.7
+ 11.8
+ 4.7
+ 11.9
+ 192
+ 1.4
+ 10.0
+ 78.6
+ 8.2
Lima
316,493
Lansing
340,000 Not Included In total
Tot. Mid.West.
San Francisco
Los Angeles
Seattle
Portland
City
Sacramento
Helena
San Diego
Stockton
San Jose
Fresno
North Yakima
Billings
376,117,622
_
..
...
Total Pacific..
Kansas City
....
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Duluth
Lincoln
Davenport
Topeka
Colorado Springs
Rapids
Fargo
Sioux Falls
Pueblo
Fremont
Tot. oth.West.
St. Louis
New Orleans
Louisville
‘
Houston
Galveston
Richmond
Fort Worth
Atlanta
Memphis
Nashville
Savannah
Norfolk
Birmingham....
Jacksonville
Chattanooga
Mobile
Augusta
Knoxville
Little Rock
Charleston.
Oklahoma
Beaumont
Macon
Austin
Vicksburg
Wilmington .N.C.
Jackson, Miss
Meridian
Total Southern
—6.3
—26
35,946,244 +25.9
—5.4
14,944,655
11,336,530 —10.9
7,359,707 +28.3
3,500,000 +20.8
6,641,308 +21.1
5,506,460 + 18.7
2,087,159 + 44.6
+ 3.8
1,162,448
+7.2
924,504
5.8
+
1,087,000
742,235 3—13.6
507,238 +35.9
427,112 +34.0
284+58 +30.1
242,647 +38.2
8571801
_
Pasadena
Total all
366,474,370
45,079,500
14,137,536
10,100,000
9,441,813
4,227,225
5,241,726
5,610,680
3,016,086
1,206,326
Spokane
Salt Lake
Tacoma
Oakland
Cedar
1,579,685,368 2,074,475,960 —23.8 1,559,512,978 1,602,251,179
151,382,636
133,780,707 + 13.2
110,677,507
119,751,751
47,293,257
49,614,825
—4.7
39,039,229
48,311,581
28,826,850
28,317,289
+ 1.8
23,856,254
26,215,434
11,193,471
10,827,855
+3.4
9,111,485
9,496,303
6,668,929
6,338,807
+ 5.2
5,126,888
6,081,012
6,284,606
5,358,134 + 17.3
4,924,771
5.596,860
4,238,681
4,887,439 —13.3
3,866,948
3,301,612
2,631,539
2,297,582 + 14.5
2,193,680
2,236,243
2,622,511
2,197,086 + 19.8
1,964,293
2,200,878
1,562,682
1,402,314 + 11.4
1,441,393
946,844
1,615,105
1,485,907
+ 8.8
1,131,408
1,328,496
1,483,320
1,342,709 + 10.5
1,256,243
1,137,715
1,449,999
1,243,812 + 16.6
1,063,346
1,234,887
1,295,528
1,296,783
—0.1
1,015,880
949,242
900,749
803,558 + 12.1
757,119
790,683
1,662,213
1,336,193 +24.1
1,162,960
924,768
848,889
+ 9.0
604.346
646,305
541,650
427,100 +26.9
469,500
467,800
601,011
435.578 +37.9
427,437
501,764
567,130
667,237 —15.0
451,988
486,858
400,000
357,483 + 11.9
329,617
256,500
285,000 —10.0
264,376
295,566
1,854,088,503 2,330,028,247
_
Saginaw
The
Clearings—Returns by Telegraph.
Week ending Aug. 13.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Springfield, Ill
inch
Standing Business Cards
CHICAGO
State and City
(semi-annually)
Electric Railway (3 times
Advertising
13 1910.
Inc or
$10 00
Bank and quotation (monthly)
Railway and Industrial (quarterly)
Railway Earnings (monthly)
Railway Sectiots
City Sectiots
State and
Clearings at—
PUBLISHED WEEKLY.
Terms of
Electric
1,150,000
641,599
689,518
572,531
370,000
150,000
600,000
549,094
+ 9.3
103,092,341
49,495,441
93,249,409
44,597,495
+ 11.6
17,968,654
15,812,279
12,784,534
9,997,966
8,380,926
4,965,183
15,673,318
11,000,000
8,062,751
6,116,439
3,728,759
2,400,000
3,687,212
3,043,694
1,517,099
1,619,767
1,311,597
743,560
1,025,000
764,457
825,000
551,622
397,740
.
+ 11.0
+ 13.6
+22.6
+ 10.0
—3.8
+23.2
3,255,011 + 14.5
—0.6
2,412,526
3,208,669 + 14.9
2,308 657 +31-8
1,505,633
+0.8
1,412,729 + 14.6
1,468,618 —10.7
—1.8
757,029
913,459 + 12.2
77,617
+0.9
570,000 + 44.7
503.570
+ 9:6
366,640
+ 8.5
1907.
$
210,581,898
22,526,750
15,382,852
12,399,065
9,991,243
7,536,023
5,078,500
3,617,196
2,431,639
2.107,839
1,475,208
1,726,136
1,078,188
830,000
772,827
539,020
550,787
539,458
550,000
550,000
482,162
222,652,652
25,142,150
15,904,289
14,792,240
10,050,314
9,262,100
5,752,700
4,578,361
2,581,785
2,313,534
2,142,999
1,967,389
1,045,728
936,769
813,160
676,841
720,927
568,553
437,919
684,850
438,531
417,879
561,793
405,822
496,708
323,026
442.629
413,826
380,000
375,000
322,795
326,729
302,681
274,532
123,505
26,348
300,000
213,599
187,619
28,000
300,000
310,000
304,044,836
34,427,781
326,708,237.
41,054,120
11,107,402
9,868,387
6,860,457
2,934,664
6,129,641
4,803,758
2,461,185
9,124,958
8,050,898
5,663,576
3,106,338
5,094,139
3,887,946
1,546,039
875,000
789,912
788.000
519,882
547,323
445,596
222,554
262,057
932,795
565,257
525,000
75,351,999
35,037,437
87,242,766
31,008,567
19,157,341
10,242,935
8,450,562
7,421,311
4,831,815
2,757,664
1,751,426
1,325,811
15,158,671
10,777,425
9,699,586
9,090,156
4,735,571
2,579,764
1,869,250
1,394,255
1,208,931
1,067,470
1,041,240
826,775
719,865
502,428
470,000
494,435
403,059
.
1,033,368
1,057,075
1,102,347
565,924
566,061
577,341
560,000
462,055
422,650
129,932,110
62,158,767
5,284,670
12,695,883
8,630,050
5,468,000
7,182,050
5,000,736
7,191,113
3,615,444
3,453,980
4,044,539
2,730,789
2,248,140
2,312,908
1,263,758
1,301,968
1,421,847
1,509,304
1,396,684
1,102,000
2,113,663
650,600
115,978,328
62,512,659
+ 12-0
97,076,318
93,319,253
—0.6
+8.9
+9.6
52,322,749
14,223,998
12,729,311
9,912,701
4,147,000
5,400,000
3,200,838
764 171
14,032,005
11,579,053
9,731,310
4,363,500
6,518,824
5,589,826
5,919,725
4,127,139
3,593,407
2,769,043
2,605,958
1,742,833
1,483.935
1,358,488
1,320,809
1,346,467
1,535,299
1,586,034
999,147
1,650,000
667,163
60,493,559
10,588,704
13,739,797
9,191,786
4,953,000
5,313,875
4,680,769
3,407,924
3,268,722
2,894,165
2,514,137
1,834,170
1,667,922
1,474,359
1,289,707
1,293,421
1,145,264
1,326,095
1,061,518
1,018,590
749 225
—11.3
+25 3
+ 10.2
—10.5
+21.5
—12.4
—4.0
+ 46.0
+ 4.8
+ 29.0
+ 55.9
—7.0
—1.4
+5 6
—1.7
—12.0
+ 10.3
+ 29.3
—2.6
769,233
254,878
443,423
340,000
225,000
313,86S
285,001
198,603
+2 C
+35.7
+2 6
+ 41.2
+10.5
+ 13.3
155,572,998
149,396,731
+ 4.1
566,929
248 482
2,775,301.633 3.259,107,694
Outside N. Y. 1,195,616,26s 1,184,631,734
l,104,97e
645,871
514,958
362,846
270,428
262,063
301.00C
136,012,926
3,538',443
3,545,758
3,951,361
2,705,813
2,464,683
2,136,754
1,406,463
1,801,810
1,523,603
1,068,788
1,463,589
1,110,429
932,000
945,787
506,993
500,000
379.604
131,918,475
—14.8 2,540,728,028 2,633.167,370
+ 0.9
981,216,066 1,030,916,191
It is unfortunate that the Inter-State Commerce
Commission and those who
speak for it should almost
invariably assume an attitude of hostility to every¬
thing emanating from railroad sources, even when
questions of fact are involved as to which there ought
to be no dispute or doubt.
That body ought, above
everything else, to act in a judicial capacity. Yet
they
by making assaults
the carrying industry and by calling in question
those connected with it appear
will be serving public interests
to think that
and
doings of their managers, never
crediting them with a single good motive or any
acts
honest and sincere purpose.
Everyone will readily recall how, during the period
of intense
depression following the panic of 1907,
when the railroads were sustaining losses in gross
earnings of $50,000,000 to $60,000,000 a month (or
at the rate of $600,000,000 to $700,000,000 a year),
how
one
Commissioner after another undertook to
belittle these losses and to declare the railroads were
LXXXXI.
official of the Inter-State Commerce
having expressed himself to the follow¬
ing effect: “If the railroads think that they can hide
die figures for an abnormal amount of permanent
improvements, that it will make it appear as though
■;heir earnings are decreasing they are mistaken.
quoting
THE FINANCIAL SITUATION.
upon
all the
[VOL.
THE CHRONICLE
360
an
Commission
as
We have
some
and
are
of the best accountants in the country,
looking for just such things.”
place with reference to
criticisms of this nature that under the accounting
methods which the Commission has itself prescribed
“padding” the expense accounts is practically out of
the question, though necessarily there is more or less
latitude in the making of repairs and renewals.
Im¬
provement and betterment outlays, per se, it is
forbidden to charge to expenses at all; even in the
balance sheet all expenditures for work of that nature,
whether paid for out of surplus net earnings or from
new
capital supplies, must be distinctly shown. This
fact is, of course, known to those connected with
the Commission, and accordingly the charge is that
so-called replacement improvements which the account¬
ing classification of the Inter-State Commerce Com¬
mission permits the roads to include in expenses are
exceptionally large and being made purposely so.
Circumscribed in this way the scope for the practice
of irregular methods is, it will be observed, very
they
It is to be said in the first
badly off after all—that if the managers would
only go further back in making their comparisons
and blot out of sight the more recent increases they
would find that they were doing quite as well and
earning as much money as they had some three or
four years before.
To the ordinary man that did not much narrowed down. But even within the limits
seem
very convincing reasoning, since it ignored here noted there is not the slightest reason for thinking
the fact that growth is the normal state in this enter¬ that the privilege is being abused or that, a
prising country of ours and took no account of the design exists to reduce net earnings. The increases
further fact that in the interval of three or four years in expenses are too large and too general to
enormous amounts of new capital had been put into
give ground for any such charge. To furnish
the railroad system, and it was necessary that earn¬ warrant for the suspicion, it would have to be assumed
ing should in like manner expand in order that the that all the roads in the country were engaged in a
roads might net a return on the new capital. The concerted attempt to deceive, and any collective decep¬
Commission, however, thought the argument all- tion of that kind is of course entirely out of the question.
As a matter of fact, the reason for the increases in
sufficient.
And now, in like manner, an attempt is being made expenses lie on the surface and are apparent to any one
to discredit the monthly returns of earnings of the who has kept in touch with railroad affairs.
Oper¬
roads with their record of large increases in expenses. ating costs are rising in every direction, but the
No feature in the affairs of the roads in recent months matter of higher wages is sufficient in itself to account
has been so conspicuous as the way expenses have for a very large portion of the augmentation.
As
been mounting up, month by month, the increases has been many times pointed out in these columns,
becoming all the time more pronounced. Now it is estimated that recent advances in wages will add
statements are being given out at Washington in¬ 100 to 150 million dollars to the annual expenses of the
timating that the railroads are making inordinate railroads of the United States. This being so, it can
outlays for repairs and replacement and thus diminish¬ readily be seen that the addition from that cause in
ing their net earnings and concealing their real profits the case of every important system must be very
—“padding their expenses’7, as one statement put it. large.
This intimation was first made the latter part of last
The critics who speak for the Commission point to
week and has since been reiterated and enlargec. the circumstance that maintenance outlays for 1910
upon.
Dispatches in the newspapers have statec are running much heavier than for 1909. The truth
that accountants of the Commission had made a is the increases in expenses are not confined to the
study of the recent returns of the railroads and were maintenance accounts, but extend to all the different
able to show that the decrease in net earnings
regis¬ departments of the railroad service, and are especially
tered by so many large roads was an apparent decrease noteworthy in the case of the so-called transportation
only, due to the fact that abnormal replacement expenditures, where there is no opportunity for
expenditures had been made, the effect being to “padding”. But limiting ourselves to the maintenance
improve the physical condition of the roads at the outlays, does not augmentation there follow naturally
expense of net earnings.
In apparent substantiation from prevailing conditions? For instance, does not
of this assertion, figures have been cited indicating the matter of higher wages enter into the maintenance
a very large ratio of increase in the expenditures
upon expenditures the same as in the transportation ex¬
maintenance of way and structures in the case of a penditures? Obviously it does, and yet the fact is
number of important systems.
On Monday of this overlooked. Furthermore, does not the increase in
not
so
week the “Journal of Commerce” of this
the volume of traffic mean
a
nance
city publishec
dispatch from its correspondent at Washington
outlays
as
well
as
an
increase in the mainte¬
in the transportation
ex-
Aug. 13
penses?
1910.]
Plainly enough, the
THE CHRONICLE
more
trains that
are run
the greater will be the need for repairs of roadbed
and equipment.
There is, of course, no question that
traffic has increased
enormously. Thus we have a
higher maintenance expendi¬
tures, namely the larger wage cost and the expanding
two-fold
reason
for the
volume of traffic.
1
361
Commission, Mr. Miller demonstrates that the
increase is not as large relatively as it
appears to be.
The Atchison Topeka & Santa Fe
spent over 40% more
merce
for maintenance of way and structures in the
first ten
months of the fiscal year 1910 than in the same months
of the previous year, but it
it did in the
spent only 20%
same
months of the
than
1908. The
more
panic year
point to bear in mind in con¬ Chicago & Alton spent 27% more for maintenance of
sidering the increase in maintenance outlays. In the way and structures in the ten months of the fiscal
comparison with 1909 the increase is larger than it year 1910 than it did in the
corresponding months of
otherwise would be because last year the roads were
1909, but its 1910 expenditures were only 4% larger
still practicing the utmost economy, and
expenditures than its expenditures in the same months of 1908.
on maintenance account were for that reason
below Thus all mystery regarding the
large increases in ex¬
the normal.
By turning to Monthly Bulletin No. 5 penses disappears. But what shall we
say of the
of the Inter-State Commerce
Commission, covering attempt of the Inter-State Commerce Commission, or
the monthly reports for the year ending June 30
1909, at least those who assume to represent it, to mislead
it will be seen that, although gross
earnings for the whole the public into thinking that the higher
expenses
railroad system of the United States for the twelve are not
legitimate and genuine, but are due to “pad¬
months increased $22,000,000, outlays for mainte¬
ding.”
nance of way and structures were reduced from
$324,756,690 to $311,368,083, and expenditures for main¬
The U. S. Steel Corporation on
Wednesday made
tenance of equipment from $373,463,044 to
$367,089,- public its first monthly statement showing the aggre¬
677.
In the case of some large systems the contraction
gate of unfilled orders on hand, in pursuance of the
was
exceptionally noteworthy. Take for illustration resolution to that effect proposed by Mr. J. P.
Morgan
the Atchison Topeka & Santa Fe
system. From page at the meeting the last Tuesday in July
and then
28 of the Bulletin referred to it
appears that, although adopted by the board of directors.
As expected, the
gross earnings of this system rose from $91,362,658
figures indicate a further lessening of activity in the
in the fiscal year 1908 to
$95,088,045 in the fiscal year iron and steel trades. The total of contracts on hand
1909, expenditures for maintenance of way and struc¬ for July 31 is given as
only 3,970,931 tons, as against
tures were reduced from
$14,258,181 to $13,042,600 4,257,794 tons on June 30. On March 31 last the
and expenditures for maintenance of
equipment from aggregate of unfilled orders was 5,402,514 tons and
$14,325,586 to $13,979,124. Tht Atchison is one of on Dec. 31 1909 it was
5,927,031 tons. Thus the
the systems which has the
present year been showing Steel Corporation has an aggregate of future business
very large increases in expenditures under all the dif¬ on its books
nearly 2,000,000 tons less than seven
ferent heads.
Obviously, with outlays below the nor¬ months ago. Building operations have recently been
mal in 1909, a return to the normal in 1910
makes the on a reduced scale, and that of course involves some
increase all the larger by
comparison, and when to that loss of tonnage in iron and steel; but the chief, the
fact is added the expansion in the volume of traffic
dominant, reason for the falling off is the diminution
and the rise in wages, there is
really nothing surprising in the new orders by the railroads. Confidence in
about the extent of the augmentation in the ma nte- railroad securities
has for the time being been
destroyed
nance outlays.
by the Government’s antagonistic policy to railroad
interests, and as a consequence their borrowing ca¬
We are glad to see that one railroad
manager has pacity has been impaired.
At the same time the rise
spoken out boldly in criticism of the attempt of the in expenses, with
inability to offset the same by higher
Inter-State Commerce Commission to
place the rail¬ rates of transportation, makes imperative the practice
roads in a false light in this matter.
President Darius of economy.
As a consequence the railroads have
Miller of the Chicago
Burlington & Quincy has taken begun to curtail new work in all directions with the
pains to point out that the fact that maintenance ex¬ result that orders for all the
things needed in the con¬
penses have run up so largely is no indication that the struction and
operation of the lines have been greatly
accounts have been padded.
If the figures of 1910 reduced. The old state of activity can be restored
had been compared with those for
1907, or even with by action that will induce a revival of confidence in the
those for the panic year
1908, the result would have stability and value of railroad properties.
been quite different.
He shows that the average
amount per mile spent
There was obviously basis for the
by the railways of the United
reports current
States for maintenance of
way and structures in 1907 during July that copper producers here ,and abroad
was $1,510; in 1908 it was
$1,423, and in 1909 it was had agreed upon a restricted output of the metal for
only $1,336. These figures, Mr. Miller argues, prove the immediate future. The
monthly statement of the
that during the period of
depression following the panic Copper Producers’ Association for July was issued on
of 1907 the amount of
money spent for maintenance of Monday, and it showed that the production of market¬
way and structures was not sufficient to
keep the roads able copper in the United States from all domestic
in good physical
condition, and they are now forced and foreign sources during July had been 118,370,003
not only to spend
enough to adequately maintain the pounds, as against 127,219,188 pounds in June and
properties, but also, in addition, to make good the 123,242,476 pounds in
May. It does not appear, how¬
deterioration that took place
during the period of de¬ ever, that this curtailment was sufficient to meet the
pression.
needs of the situation, since the deliveries for
export
Dissecting some of the figures in the illustrations and home consumption
aggregated only 116,115,342
used by the critic
speaking for the Inter-State Com¬ pounds, leaving thus a further increase of 2,254,661
There is yet another
:
THE CHRONICLE
363
[VOL. LXXXXI.
.
pounds in stocks, bringing the aggregate of the stocks ingly meagre; they merely record that there was
up to 170,640,678 pounds.
The takings for domestic “a big slump," and that “lots sold from 36 to 44
consumption were a little larger than for June, but cents a pound below the figures of two weeks ago."
Contrasted with the extreme quotations recorded
were only of normal volume, and contrast strangely
with the tales of large purchases with which the public at the end of April, certain grades have fallen
not far short of 50%, although the average decline has
was regaled to such an extent during the course of
the month. To get, however, a real idea of the situa¬ been much less. On May 1 fine new Upriver Para
tion it is necessary to compare with the results for last rubber was quoted in New York at $2 SO per pound;
year instead of with the months immediately preced¬ by the end of May there had been a fall to $2 40, while
ing. This we have done in the following, covering to-day the quotation is nominally $1 85, with virtually
no business being done.
For fine new Islands Para
July and the seven months ending with July
better than $2 75 was paid towards the close of April,
July
Jan. 1 to July 31
1910.
1909.
1910.
1909.
against a quotation of less than $1 80 this week. At
Stocks beg’g period.lbs.168,386,017 154,858,061 141,766,111 122,357,266
Production
118,370,003 118.277,603 835,636,553 799,670,212
the London sales on April 19 Ceylon sheets brought
Total supply.
286,756,020 273,135,664 977,402,664 922,027,478
12s. 9%d., whereas on Tuesday of this wreek little
Deliveries for—
figure was quoted. On Wednes¬
day and Thursday, however, there was a rebound
116,115,342
both in raw material and in rubber shares. The fall in
Stocks end of perlod_-.170,640,678 122,596,607 170,640,678 122,596,607
rubber certificates had been very marked, yet the
The foregoing presents the situation in bold.relief.
July production for 1910, notwithstanding the re¬ wreckage among operators has been remarkably light.
Domestic consum’n..
56,708,175
75,520,083 444,984,071 389,133,240
Export
59,407,167
75,018,974 361,777,915 410,297,631
150,539,057 806,761,986 799,430.871
just about the same as in
On the other hand, the de¬
liveries were on a greatly reduced scale, both for
domestic consumption and for export, the aggregate
of the two being only 116,115,342 pounds in July
1910, against 150,539,057 pounds in July 1909. For
the seven months since the first of January it appears
that production increased from 799,670,212 pounds in
1909 to 835,636,553 pounds in 1910, while deliveries
increased only from 799,430,871 pounds to 806,761,986
pounds. As a consequence, stocks are now, as already
stated, 170,640,678 pounds, as against 141,766,111
pounds on Jan. 1 and only 122,596,607 pounds on
July 31 last year.
The one favorable feature an the copper situation
is the falling off in the foreign visible supply.
A contraction has been slowly going on for some
months, with the result that foreign stocks July 31
were only 222,306,560
pounds, against 254,150,400
pounds on Feb. 28. However, these foreign stocks
striction practiced, was
the month of last year.
are
still far in
excess
of the stocks held in other years.
July 31 1907, for instance, the amount of the foreign
supply was only 28,911,680 pounds. The con¬
traction which has been going on the last five months
is healthful, but it merely indicates that foreign con¬
On
visible
sumers
have abandoned the idea that the metal is
cheap at present prices or that it pays further to ac¬
figures. This is evident from the
fact that exports of copper from the United States
for the seven months of 1910 were only 361,777,915
pounds, against 410,297,631 pounds in the same seven
months of 1909.
In brief, therefore, the foreign stocks
have been declining, because foreigners have been
taking less copper from us. On the other hand, the
fact that the foreign shipments have been less has
cumulate it at such
served to increase
The
our own
stocks.
long-expected reaction in the boom in crude rub¬
ber and in rubber shares has taken place.
Events,
however, at least thus far, have been less sensational
and disastrous than the violence of the upward move¬
ment had seemed to render likely.
During July the
decline was quite pronounced in rubber stocks, but it
was not until the fortnightly auction sales were held
this week that the market for rubber broke precipi¬
tately. The cables describing the proceedings at this
week's sales of raw material in London are disappoint¬
than half that
more
The claim that the
speculation
was very
largely
con¬
considerable extent.
substantiated, at least
The losses have fallen most
upon misguided
who could not resist the
individuals of various classes
temptation to emulate others
ducted
to
a
on a
cash basis has been
heavily
who made their ventures in the
earlier stages of the
speculation and quickly realized dazzling profits. Any
spirited revival in rubber shares is not regarded as pro¬
bable
now
that the demand for the crude
material has
drastically. The largest consumer, our owm
United States, has apparently discovered that ex¬
travagance was being carried too far, and there is now
being ushered in an era of greater conservatism and
fallen off
relative economy.
While the
grain
crops
of the United States quite
generally suffered deterioration in condition during
July, more particularly west of the Mississippi River,
as a result of drought and high temperature, the out¬
look nevertheless is for a satisfactory yield, except in
the case of spring wheat. This has been the gist of
private advices received from time to time during
July, and it finds partial substantiation in the official
report of the Department of Agriculture for Aug. 1,
issued the present week. We say partial substantia¬
tion for the reason that many of those in closest touch
with the large crop-producing sections of the country
are disposed to hold a more favorable view of the
prospects of yield than the Department's percentages
seem to indicate.
This is especially true as regards
corn, the condition of which has been strengthened
by the recent rains.
For Aug. 1 the average for corn is officially stated
at 79.3.
This shows a greater decline from the pre¬
vious month than usual. Deterioration from July 1
was, as anticipated, greatest in States west of the
Mississippi, where drought and high temperatures
worked damage. In Kansas, for instance, there was a
drop from 83 on July 1 to 60 on Aug. 1, Nebraska from
86 to 65 and Oklahoma from 82 to 57; and in each case
the promise, according to the Government's figures,
appears to be much less favorable than the average
for the previous ten years.
On the other hand, such
important States as Illinois, Iowa, Missouri and Indi¬
ana, though reporting condition below last year, are
above the ten-year record, while at the South the out¬
look is as a rule very much better than a year ago.
Aug. 13
The
1910.]
THE CHRONICLE
for the whole United States on
Aug. 1 was 5.1 points lower than at the same time in
1909, but as last year during August there was a very
important drop in condition (9.8 points) due to drought
and hot winds, whereas this year more favorable con¬
ditions are prevailing, any estimate of yield for this
year based upon comparison with the August 1 average
last year would be misleading. Turning to 1906, the
year of record production, we find condition now to be
8.8 points lower.
In the meantime, however, there
has been an addition to area of nearly 18%, and,
taking that into consideration, it would seem reason¬
able to assume that the current year’s prospect is for
a yield not far from 3,000,000,000
bushels, or a new
high mark in production. Furthermore, private ad¬
vices and also the Government weekly weather
report
of Aug. 9 indicate that developments in the great corn¬
growing States since Aug. 1 have been altogether
favorable, rains having relieved the drought and tem¬
perature having moderated. This beneficial change
should be reflected in the report for Sept. 1.
Preliminary returns from the winter-wheat harvest,
now under way, furnish the basis for the
Department’s
estimate of the yield of that crop this year, which is
given as 458,294,000 bushels, as against 446,3667000
general
average
bushels last year, 437,908,000 bushels in 1908 and
498,888,004 in 1906—the record production. In this
crop the increase over 1909, it develops, is entirely due
to the larger area planted, the average
yield per acre
at 15.8 being identical with that of 1909 and above
either 1908 or 1907. The average quality is stated
to be higher than in any recent year.
Spring wheat showed a further deterioration of only
six-tenths of a point during July, the general average
for the country Aug. 1 being officially
placed at 61.
This is lower than in any year since 1900, and com¬
pares with 91.6 in 1909 and a ten-year average of 82.6.
It is to be remembered,
however, that there is an in¬
herent tendency to exaggerate unfavorable features.
Based on the present figures, current estimates of
yield indicate a spring-wheat crop about 90 millions
bushels less than last year. This would make the
total wheat crop (spring and winter
combined) 658,000,000 bushels, a total exceeded by 79 millions last
year and 77 millions in 1906 and 90 millions in 1901,
but closely approximating, if not
exceeding, all other
Mexico’s
363
according to advices received
promises to be larger than for many years
past, and, it is stated, “planters are expressing fears
corn
crop,
this week,
that there may
be over-production
slump in prices.” It is impossible
the advices just how large a crop is
as we can learn, the heaviest
yield
was in 1897 when the
crop reached
els.
The latest total
which
The
was
ters
and
have is the estimate for
1908,
70,000,000 bushels.
commercial
States for
we
and a consequent
to conclude from
expected. As far
of corn in Mexico
121,894,000 bush¬
failures
exhibit
for
the
United
July 1910, both as regards number of disas¬
aggregate of liabilities, is less favorable
than for most recent months.
The total
indebtedness,
reported by Messrs. R. G. Dun & Co., is not only
greater than for June, but much heavier than in July
as
of last year, and only a little less than
of 1908.
It is to be noted, moreover,
in the month
that in some
of the larger industries that go to make
up the various
divisions into which failures are grouped, the liabilities
this year are much in excess of last year. This is true
of iron foundries, machinery and tools,
lumber, car¬
penters, &c., and clothing and millinery in the
manufacturing division, and the aggregate indebted¬
ness
of all branches included under that head is for
the month this year, $7,732,411, against
only $3,807,201 in 1909 and $5,835,018 in 1908.
Amongtraders,
also, there are some conspicuous increases, notably in
clothing, dry goods and carpets, and liquor and
tobacco lines. The total of all defaults in the
trading
division at $5,299,487 compares with $4,750,213 in
1909 and $6,160,713 in 1908.
The indebtedness of
brokers, &c., for July, however, is stated at only
$758,855, against $970,479 last year and $2,226,395 in
1908.
The grand aggregate of failed liabilities for
July 1910, therefore, reaches $13,790,753, representing
1,147 disasters, these comparing with $9,527,893 and
1,105 in 1909 and $14,222,126 and 1,232 in 1908. The
result for the
seven
months since Jan. 1 is also less
satisfactory than for the
same
period
a year ago.
number of failures in all lines reported for
this year reaches 7,535, with liabilities of
The
that period
$126,030,059,
against 7,936 for $98,099,266 in 1909 and 9,941 for
$138,596,959 in 1908. Messrs. Dun & Co. remark
that to a certain extent the July showing reflects the
years.
readjustments and uncertainties from which business
Oats condition is returned as
slightly lower than a has recently suffered, but does not disclose any
month earlier, the Department’s result
being 81.5 serious Qr necessarily permanent depression. They
Aug. 1 this year against 82.2 July 1, 85.5 Aug. 1 1909, further remark that the failure record often shows
76.8 in 1908 and a ten-year mean of 82.6. Last
many changes from month to month in line with the
year’s crop of this cereal—the record for the country ups and downs of business confidence.
by the way—was 1,007,353,000 bushels. While the
The situation in the Dominion of Canada in
July
present condition is 4 points below that of Aug. 1 1909, was clearly more favorable than for the same month
this is in large part offset
by an augmentation in of either of the two previous years. For July this year
acreage of 3J^%.
The conclusion appears warranted, the number of insolvents reached only 104, with debts
therefore, that with normal conditions during August of $802,566, whereas in the month of last
year 121
a total yield
very close to that of last year will be se¬ failed for an aggregate of $985,997 and the totals in
cured—about 1,000,000,000 bushels.
The amount 1908 were 134 and $1,218,132. The trading division
of oats remaining in farmers’ hands in the United makes much
the best exhibit, this year’s liabilities
States on Aug. 1 this
year, according to the Depart¬ being only a little more than half those of last
year.
ment’s investigations, was much
larger than in earlier For the seven months of the calendar year 1910 the
It is estimated that the holdings at that time number of defaults at 763 covers liabilities of
years.
$10,555,were 6.3% of last
year’s crop, or 63,249,000 bushels. 107 and compares with 882 and $8,615,256 in 1909
That aggregate contrasts with 26 1-3 million bushels and
1,015 and $9,553,857 in 1908. Manufacturing
on Aug. 1 1909 and a
failures
make up the greater part of this year’s total, as
ten-year average of 50,394,000
bushels.
they account ffor $5,521,402, against $2,799,209 in
364
1909.
THE CHRONICLE
Trading liabilities,
[VOL.
LXXXXI.
the other hand, were latest reports, unconfirmed, are that the Catholic
about the same in each year and in other lines the dignitaries
surrounding the Pope are planning to place
1910 seven months’ record is only $176,606, or nearly the conduct of
negotiations in new hands with a view
to granting whatever conciliatory measures may be
three-quarters of a million less than in 1909.
found necessary to placate Spain. Premier Canalejas
British foreign trade returns for July differ from has won widespread commendation for the vigorous
those of the United States in that imports show a steps he took to enforce the Government’s ban upon
decrease and exports an increase. The Board of Trade the demonstration planned to be held at San Sebastian
reports that importations into Great Britain last month last Sunday. The Catholics decided at the last
•decreased $4,660,000, including a decrease of about moment not to gather, and only a handful of clerical—
$10,000,000 in foodstuffs, which, however, was partly or perhaps they were really Carlist—sympathizers
offset by an increase of approximately $5,000,000 in visited the city, and it was an easy matter for the
rubber, as compared with July 1909. Exports showed troops to preserve order.
The Holy See has not yet recalled its representative
lx gain of $14,500,500, chiefly through larger shipments
of manufactured goods. The excess of imports over (Mgr. Vico) at Madrid, but the Premier has let it be
exports last month was only $18,115,000, against known very emphatically that the Government does
$37,275,000 a year ago and $33,760,000 in the corres¬ not intend to recede one iota from the position it has
ponding month of 1908. Full returns for the United taken up, and, in view of the support the Government
States are not yet available; but the usual preliminary has evoked, the indications are that his attitude will be
statement of our agricultural exports is to hand.
It is uncompromisingly maintained. From Rome come
not an encouraging exhibit and may to some extent threats that the Catholics are strong enough to over¬
modify the expectations of our bankers concerning this throw the present administration were such a procedure
country’s ability to draw gold from Europe during to be sanctioned. The suspicion has spread that the
the crop-moving season. The July total fell below Carlists are behind the present agitation, but both in
$30,000,000 only once (in 1904) during recent years, Italy’and throughout Europe the conviction obtains
and on that occasion the figure ($29,102,435) was less that their ambitions are utterly impossible of realiza¬
The final outcome of the dispute is not yet
than $1,000,000 under last month’s aggregate of tion.
$30,063,091. This total represents a decrease as com¬ clearly discernible, but, as already indicated, conces¬
pared with July a year ago of $6,253,240.
The sions, if concessions are to be made, will probably
shrinkage in shipments of breadstuffs was the most come from Rome rather than from Madrid. Mean¬
marked, to wit, $2,194,012, although cotton fell off while King Alfonso is apparently enjoying his stay in
$1,724,489 and mineral oils $1,029,310. For the England. He sent a cablegram of congratulation to
Premier Canalejas upon his successful handling of the
seven elapsed months of the current year the decrease in
exports of agricultural products has amounted to San Sebastian situation.
The Vatican is confronted with trouble irom another
$56,347,375; the grand total of $339,473,416 is
the lowest during recent times, even the figures for quarter—Portugal.
The Papal Secretary of State
1904 having been fully $20,000,000 larger. . A state¬ ordered the suppression of a Catholic review conducted
ment covering the foreign commerce at the port of by the Franciscans—an act which the Portuguese in¬
New York may be accepted as foreshadowing the tenor terrupted as a violation of the royal prerogative and
of the returns for the whole country.
The value of the as manifesting disrespect for the Concordat. To
merchandise exported was $56,019,567, an increase show its resentment, the Government deferred the
of $5,436,089 over 1909, while the imports were valued appointment of a Portuguese Ambassador to the
at $69,966,872, an increase of $1,279,859. Before an¬ Vatican.
The contention of the Papal Secretary is
other month passes, however, our new crops ought to that he merely adopted a disciplinary religious meas¬
The incident is so trifling that, had there been
become an important factor in our foreign trade and in ure.
no uprising in Spain against Catholic authority, the
our international exchanges, which during the current
week tended to move up from the gold-import basis Portuguese would probably have ignored it; but the
but which have been depressed appreciably by the present sentiment in Continental Europe is such that
drawing of long finance bills ou Paris, where money is further events will be awaited with some concern.
obtainable at 2%, as contrasted with a charge of 4^%
The special session of the Texas Legislature, called
@4/4% for five months’loans here and of 5}4 to5jk±%
for prime commercial paper. As we have pointed out on to repeal the new State rating law in respect to fire in¬
other occasions, the high prices that have prevailed in surance, has thus far only increased the confusion.
this country are in a measure responsible for the diminu¬ The Dallas Chamber of Commerce has indorsed the
tion of our shipments to foreign customers, the latter calling of this session and declared that the law should
having contrived to supply their wants from the be repealed, adding that if it is repealed the State “is
not yet ready, in our opinion, for further legislation in
cheapest markets.
fire insurance matters.”
If this expression indicates
The deadlock between the Spanish Government and a reaction towards caution and sense, there are not
the Vatican, instead of having been bridged over, has yet signs that such a feeling is becoming general.
become more serious, and unless other counsels than
One bill for repeal is before the special session.
those of Cardinal Merry del Val, the Papal Secretary Another one proposes a modified scheme and pays an
of State, prevail at Rome, the rupture threatens to apparent respect to fairness by providing that the
become of permanent character, although the Catholic two lay members of the rating board must have had “at
Church is so strong, numerically, in Spain that a least five years’ practical experience in fire insurance
complete divorce of the Church from the State, as was business.” The third member shall be the Commis¬
effected in France, does not appear probable. The sioner of Insurance for the time being; but as the two
on
Aug. 13
are
1910.|
to hold office for
THE CHRONICLE
two-year term only and are to
political appointees, the proposition amounts to
depriving the companies of all control of their business
save the
making of collections in their own manner
and the privilege of writing below
(but not above)
the rates the board may prescribe.
In some respects
this proposition is worse than the
parent Kansas law;
for instance, in giving this board
power to prescribe
a
be
365
Berlin and Amsterdam are all
Bank of England succeeded in
total
reserve
and in
higher basis.
adding S3,820,475
on a
raising its ratio
The
to its
to
51% of liabili¬
negotiable there under 2J4%
for sixty-day
maturities, 2%% for ninety-day spot
bills and 2J^% for
ninety-day bills to arrive. The Lon¬
don money market has been
stiffened by Treasury
financing on a rather important scale, while this week
forms of policies, thus looking straight
away from all the fortnightly Stock
Exchange settlement had to be
past endeavor to attain a standard uniformity.
Regu¬ handled; contango rates on “Americans”
opened at
lating expenses is not mentioned but the companies 33dS%, but when it
became evident that the
open ac¬
are warned that if
any of them withdraw on account count was much less
extensive
than
had
been
antici¬
of any law, “this shall work a
forfeiture of the right pated, there was a
rapid
decline
to
about
2%, while
to enter.”
Here is something rather
new; a company call loans were available at
1@1J4% until yesterday,
which feels that it must withdraw
may consider itself when they rose to
l%%. The Bank of France
perpetually banished.
this week gained almost as much
gold as it lost
It is superfluous to discuss details of such
uncertain last week; in addition to
adding $1,785,000 to its
propositions, nor is it surprising to find attempts to stock of the
precious
metal, it recorded a curtailment
reach the desired
lessening of the burden of insurance of $38,230,000 in note circulation
and a decrease of
by statutory forcing of rates down spread from State
$49,510,000 in its bills discounted; hence, no diffi¬
to State;
copying a bad example, and even making culty has been
experienced in placing bills there at 2%.
successive copies worse, have been
already seen and Conditions are still somewhat unsettled at
must be expected.
Berlin,
The most ominous feature is the and discounts there
have been marked up to
3%%
for
swiftness with which such a course as
this, once begun, spot bills and 33^% for bills to
arrive; the Reichsbank’s
takes possession of men’s minds as
being quite normal. weekly statement discloses a loss of
$1,580,000 gold,
For instance, it has
lately been
affirmed, in Texas—
ties, yet bills
are
not
but substantial decreases in
discounts, note circulation,
actually by an organization of local insurance loans and
deposits. No improvement can yet be re¬
agents—that to repeal the present rating law without corded in
the Amsterdam
money market, bills to ar¬
substituting another would be highly dangerous, be¬ rive not
being
accepted materially below the Bank rate
cause the companies would be in a
position to charge of 5%, and 4^% still
being the minimum for spot
whatever they pleased if State control were
withdrawn. bills. Brussels remains
quiet on a 2%% basis. There
The absurdity of such an affirmation
as this, and its
were no
changes this week in any official bank rates in
apparent obliviousness of the ever-present
power of Europe.
open competition, need not be urged; the
The Bank of
significant
England did not secure any of the new
thing is that the natural and normal condition, which
gold
available in the open market on
has existed and has, on the
Monday, New
whole, worked well from York having purchased
$2,000,000 and India and
time immemorial, is
suddenly pronounced unnatural the Continent of
Europe the remaining $1,000,000.
and intolerable.
The usual relation of cause and The
price
paid
was a half-penny below that of the
effect gets reversed in men’s minds
pre¬
by starting upon a vious week, being only 77s. 9d., the minimum. Never¬
wrong track, and then they quickly seem to
forget theless, on Thursday the Bank was able to record a
that it was not
always so.
decidedly stronger statistical position. According to
Notwithstanding, there is a hopeful deduction to be our special cable from
London, the total reserve in¬
drawn. The jaunty and
unhesitating way in which creased £764,095, while ordinary
deposits decreased
legislation of late years has issued orders to business
£1,048,105,
as compared with an increase in
and has set
public
governing commissions over it, with no deposits (due to
Treasury
of
borrowing)
£1,354,014.
seeming recognition that all business has troubles The
gain in bullion during the week was £366,147,
enough naturally, without having added the uncertain¬
raising the total on hand to £39,382,894. The propor¬
ties and caprice of laws which
nobody can foresee, is tion of reserve to liabilities advanced to
a
51.05%,
strange phenomenon. The doctrine that control of
against
49.99%
last
week.
Our
correspondent
further
the property of
many persons is to be turned over to advises us that the
gain by the Bank was made up in
a few
persons who do not own any of
it, and all in the very great measure of receipts from the interior of
name of the
general good, is contrary to nature. Great
Britain, although there was also a small import
Observant
and
and.
thinking men do not expect such a from France and Australia. The details of
the move¬
They have been looking, par¬ ment into and out of the Bank were as follows:
Im¬
ticularly through the last two years, for a beginning
ports,
£25,000 (of which £19,000 from France and
of return to calmness and
sane
views, and signs of this £6,000 from Australia); exports,
nil, and receipts of
change are seen now and
condition to continue.
then. One sign is even the
fact that by
taking our bearings we perceive anew
how easy it is to
swing and drift into currents which
bear us, so
quietly and easily as to be unnoticed at
first, into channels where we must
pull harder and
harder to return.
The second week in
August, in
accordance with
£341,000 net from the interior of Great Britain.
The reluctance of New York bankers to
release any
substantial quantity of
money on time loans is be¬
ginning to attract a good deal of attention throughout
the country, and the
impression created is not alto¬
gether conducive to the preservation of confidence.
In certain
responsible circles the
policy now being
custom, has brought a
strengthening of the banking pursued by the banks is criticized as
tending to excite
position at the leading European centres, but discount
unnecessary
apprehensions.
Already banks in the
rates have not declined at
any point;
indeed, London,
West and the
South, influenced by the situation here,
are
l VOL. LXXXXI
THE CHRONICLE
366
refusing to grant accommodation to
their customers
high rates—7% is sometimes quoted.
Legitimate business, it is pointed out, is being made
to suffer.
The explanation offered by local bankers
is that they have already loaned out their full allot¬
except on very
time money and must of necessity retain
considerable percentage of their resources in
ment of
a
strictly
liquid form; they add that if speculation were ordi¬
narily active, the rates for call money would be higher
nnd the difference between daily and time quotations
and this process may
continue. The difficulty over handling cotton bills
of lading has not yet been entirely removed, although
hopes are confidently entertained that a proper
solution will be attained in time to avert any delay in
moving the staple. The daily operations in exchange
are of minor importance; the market is so narrow that
moderate purchases or sales cause immediate fluctua¬
tions of 5 or 10 points. It is again expected, despite
the advance in sterling, that our bankers will bid for
the new gold to be offered in London on Monday next.
Paris
by
of finance bills,
means
be true; yet
the fact remains that the extreme caution that has
Compared with Friday of last week, sterling ex¬
been exercised during the last few weeks has been
change on Saturday was firmer on the basis of 4 8345
ominously interpreted. Let it be added, however,
@4 8350 for 60 days, 4 8560@4 8565 for demand and
that during the last few days, and more particularly
4 8585@4 8590 for cable transfers.
The new week
yesterday, bankers greatly modified their attitude,
thus decreasing the grounds for complaint.
For Janu¬ opened on a distinctly higher level, 60 days being
quoted at 4 83%, demand at 4 85% and cable transfers
ary maturities the full 5% rate is no longer exacted;
at 4 85%.
On Tuesday, on very dull trading, the
on Thursday at least $1,000,000 was put out at 4%%
market weakened about 5 points, while on Wednesday
and yesterday 4%% was agreed upon in exceptional
the undertone was again easier; 60 days remained firm
cases.
Shorter periods have also been available on
at 4 83% bid, but demand was not wanted at the close
lower terms. Unfortunately, the easier tendency
above 4 8555 nor cable transfers above 4 85%.
On
has not yet communicated itself fully to the mercantile
Thursday it was suspected that preparations were
paper market.
Bills of even the choicest quality are
being made for the purchase of more gold in the
occasionally negotiable under 5%%, but the general
London market on Monday next; rates were depressed
rate for a drawer who must have money promptly is
during the forenoon to the basis of 4 8555 for demand,
5% or 5%%.
but before the close moderate inquiry served to cause
Time money quotations close the week on the fol¬
an advance in demand to 4 8560@4 8570 and in cable
lowing basis: 60 days, 3%; 90 days, 3%%; four
transfers to 4 8580@4 8590, the high level of the week,
months, 4%; five and six months, 4%@5%. The
up till then.
Yesterday the upward tendency con¬
supply is large enough, and the demand is quite dull,
tinued, demand closing at 4 85% and cable transfers
but lenders are very careful in making commitments
at almost 4 86.
for the longer periods.
Call money has been a shade
firmer than it was a week ago.
After ruling for several
The following shows the daily posted rates for
days at 1%%, there was an advance on Wednesda}'
sterling exchange by some of the leading drawers.
to 1 %%, and no business was done until yesterday at
would be less
last
pronounced.
week’s minimum of
This
1%.
may
The maximum has
Yester¬
day the range was 1% to 1%%, the last loan being
made at 1%%.
Commercial paper, of which there is a
rather large supply, is moving slowly at the following
range:
5%@5%% for the best four to six months’
single-name bills and 6 @6%% for less attractive
bills. Sixty to 90 days’ endorsed bills receivable
been 2%
range
and the average ruling rate 1%%.
at 5 @5%%.
Thurs.,
Fri.,
Wed.,
Tues.,
Mon.,
5 Aug. 8 Aug. 9 Aug. 10 Aug. 11 Aug. 12
Fri.,
Aug.
J 60 days 4
-1 Sight.. 4
J60 days 4
-1 Sight.. 4
J 60 days 4
.1 Sight.. 4
J 60 days 4
.1 Sight.. 4
Montreal-.
J 60 days 4
Canadian Bank
-1 Sight.. 4
of Commerce.
J 60 days 4
Heldelbach,
4
Ickelheimer & Co. ISight..
J 60 days 4
Lazard
Brown
Brothers & Co
Kidder,
Peabody & Co
Bank of British
North America
Bank of
.
.
i
86A
,
—
_
Freres.
84 A
Merchants’ Bank
-
H
86 H
84 Yi
86 H
84 A
4
|
i
:
!
|
86^2
84 ^
86 ^
;
i
86^
84
86
84
4
86
.\SIght..
fGO days,4 84 A
-\SIght-.
of Canada
84
86
84
84 A
86 A
84
86
84 A
86 A
84 A
!
I
1
!
86A
84
86
84
86
84 A
86 A
84 A
86 A
84
86
84 A
86 A
84 A
86 A
84 A
86 A
84
86
84
86
8 4 lA
86 a
84
A
86 A
84
86
84
A
86 A
84 A
86 A
84 A
86 A
84
86
84
86
84 A
.
86 A
■
84 A
86 A
84
86
84 A
86 A
84 A
86 A
84 A
86 A
84
86
84
86
84
A
86 A
84A
86 A
84
86
84 A
86 A
84 A
86 A
84 A
86 A
84
86
84
86
84 A
86 A
4
The market closed on Friday at 4 8360(5)4 8370 for
Foreign gold continues to pour into New York.
Yesterday $3,000,000 was brought from London by 60 days, 4 8570@4 8575 for demand and 4 8590@
the Lusitania, $500,000 arrived from Mexico earlier in 4 86 for cables.
Commercial on banks was quoted
the week, and an additional consignment of $2,000,000, at 4 83 @4 83% and documents for payment 4 83%
engaged in the,open market on Monday last, is now @4 83%. Cotton for payment ranged from 4 82%
on its way hither.
Since the current movement began, @4 83, grain for payment from 4 83%@4 83%.
aggregate engaged abroad has exceeded $18,000,This week the prospects for a continuance
of the inflow on a large scale have been somewhat
modified, yet our leading bankers adhere to the
the
000.
opinion that New York will be able to import all that
may be needed.
Sterling exchange rates have been
firmer during the current week, demand closing the
week at 4 85%.
London was a seller of stocks on
balance, the preliminary figures on our foreign trade
movement during July were a disappointment, no new
securities are being placed abroad, high prices for
commodities are still restricting European purchases,
and discount rates in London were marked up coinci¬
dent with a lowering of time money quotations here.
However, our bankers have borrowed moderately in
following gives the week’s movement of money
and from the interior by the New York banks.
The
to
Week, ending Aug.
12 1910.
Received by
Shipped by
V. Y. Banks. N. Y. Banks.
Gold' —'
Total gold and
legal tenders
With the Sub-Treasury
the
Net Interior
Movement.
$7,855,000
1,607,000
$3,616,000 Gain
584,000 Gain
$4,239,000
1,023,000
$9,462,000
$4,200,000 Gain
$5,262,000
operations and gold imports
result is as follows.
Week ending
Aug. 12 1910.
Banks' interior movement, as above.
Sub-Treasury oper. and gold lmp’ts.
Total gold
and legal tenders
Out of
Banks.
Irito
Banks.
$9,462,000
38,300,000
$47,762,000
■
Net Change
in
Bank Holdings.
$4,200,000 Gain
32,600,000 Gain
$5,262,000
5,700,000
$36,800,000 Gain $10,962,000
Aug. 13
The
1910.]
THE CHRONICLE
following table indicates the amount of bullion departments. When all this had gained recognition,
it was only natural that personal mannerisms and
principal European banks.
in the
Aug. 11 1910.
Banks
367
eccentricities of speech and action should
Aug. 12 1909.
of
to attract than
serve
rather
repel the interest of the public.
episode of last Tuesday has suggested two con¬
England.
39,382,894
39,382,894 39,140,209
39,140,209
France
135,714,200 34,000,480 169,714,680 148,101,960 36,001,640 184,103,600
siderations. The first is, naturally, the old question
Germany
38,230,200 14,502,000 52,732,200 41,145,150 12,895,950 54,041,100
Russia
141,317,000
8,661,000 149,978,000 127,578,000
8,970,000 136,548,030
as to
protection of public officers against such acts
Aus.-Hunb 55,302,000 12,813,000 68,115,000 56,716,000 12,591,000
69,307,000
Spain
16,303,000 30,932,000 47,235,000 16,009,000 31,794,000 47,803,000
of
It must be admitted that this
violence.
Italy d... 38,800,000
3,703,000 42,503,000 38,416,000
4,500,000 42,916,000
problem is
Netherl’ds
9,255,000
1,962,800 11,217,800 10,534,000
3,646,100 14,180,100
Nat.Belg.d 5,200,667 2,600,333
7,801,000
4,322,667
approached by clear-sighted men with something like
2,161,333
6,484,000
Sweden
4,448,000
4,448,000
4,379,000
4,379,000
Switzerl’d.
6,101,000
6,101,000
4,768,800
4,768,800
despondency. It is easy to say that the person of a
Norway
1,974,000
1,974,000
1,765,000
1,765,000
public
executive ought to be surrounded with increased
Total week 492,027,961 109,174,613 601,202,574 492,874,986 112,560,023
605,435,009
Prev. week 491,851,537 109,134,430 600,985,967 480.465.440 113,036,590
593,502,030
safeguards; yet it is not by any means easy to point
out what those safeguards can be.
Seclusion from
contact with the public is the only effective
safeguard
THE ATTACK ON MAYOR GAYNOR.
adopted by European royalty, and no expedient is
The attempted assassination of
Mayor Gaynor last more absolutely out of the question with an American
Tuesday, by a discharged city employee, was in itself executive. Public demands and the traditions of
a
sufficiently sensational incident; but the far greater politics are every
year extending, rather than limiting,
interest in the episode arises from the manner in which
the personal contact of a public executive with the
the occurrence has been received
by the country at great masses of his constituents. And indeed, when
large. That the attempt was apparently unsuccessful, one suggests that
larger precautions might have been
and that the Mayor at this writing seems to be in a
adopted for the protection of Mayor Gaynor on the
fair way towards quick recovery, are matters for
pro¬ deck of the steamer by which he was about to
sail,
found congratulation. They would,
however, have it is an obvious answer that his daily afternoon walk
equally been matters of congratulation had the attack from
City Hall to his Brooklyn home across the Brook¬
been made on a city executive less
strikingly in the lyn Bridge provided, and must always have provided,
public eye than Mayor Gaynor. In the present case, an equal
opportunity for such personal attacks.
what has undoubtedly impressed all observers of the
For ourselves, we believe that the
remedy, even
public attitude regarding the affair has been, first,
though slow, must lie in the attitude taken by the
the strong personal sentiment
expressed in approval of public toward offenses of the sort. When the mind of
Mayor Gaynor’s executive career up to the present a
prospective assassin is positively convinced of the
time, and, second, the widespread recognition of the
loathing and contempt which his act will excite, even
fact that, as a successful chief of a
great city adminis¬ in the minds of his nearest
associates, one might
tration, the Mayor was a national political figure of
reasonably look, even in hardened criminals or Un¬
considerable importance.
balanced fanatics, for hesitation at undertaking crimes
The personal view of the
Mayor’s career is not diffi¬ of the sort. But we strongly suspect that one of the
cult to understand.
During his campaign for the worst evils bearing on the matter, and an evil which
Mayoralty, opinion as to his fitness for the place was somehow ought to be
abated, is the exploiting of such
certainly divided, and not in all respects unreasonably criminals
through extensive articles on their career
when Mr. Gaynor’s previous career was
kept in mind. in the public press, and through the printing in con¬
That he had performed most
effectively a useful and spicuous newspaper columns of their photographs,
difficult task in his prosecution of the McKane election
where they can be gazed on, perhaps with something
frauds in 1888 was admitted by every one; but his like
admiration for the man who has attracted so
somewhat erratic position after he became a
much
judge,
notice, by the ignorant portion of the public.
in the matter of the five-cent fare to
The other consideration which this
Coney Island,
episode of Mayor
had given rise to a somewhat
general impression of a Gaynor strikingly brings to mind is the new and
“political judge”—in other words, of a member of world-wide interest which
converges on the public
the judiciary who, while not
using his powers for executives of great cities. This is something novel in
demagogic purposes, was nevertheless willing to utilize our own politics, and
perhaps in the politics of the
his position to attract
public favor through the manner world at large. It has been seen already in the drift
of his decisions.
It was this, beyond
question, which of political calculations on what are called available
stood most seriously in the
way of Mr. Gaynor’s party candidates.
Certainly it is true that promotion
mayoralty canvass.
to the front rank of political
possibilities, even for
It is, however, now the
quite universal recognition Presidential honors, comes now as never before to
that his administration of the
Mayor’s office up to date successful municipal executives. The explanation is
has been marked
by efficiency, thoroughness and not difficult. The enormous
growth of our greater
common sense.
His choice of the three
principal cities during the past decade, partly through natural
aims of economy in the
budget, careful restrictiqp of increase of popolation and partly through amalgama¬
police abuses and continued pressure in the matter of tion with
adjacent municipalities, has given rise to new
new rapid transit
facilities, rightly commended itself problems of public administration, often surpassing
to the
citizenship of New York. His prompt and in scope and importance the problems which confront
decisive action in such matters as
the suppression of a Governor of a State—the
public officer who had been
obnoxious plays, and the
judgment with which his looked upon in our previous history as the natural
powers were exercised, evoked similar
approval. To candidate for higher honors.
this was added the
conviction, as time went on, that
This increase in the political importance of the May¬
the Mayor
thoroughly understood the nature of his oralty is certainly not hindered by the fact that a
own
task, and absolutely dominated the
municipal Mayor of real political power and force of character
.
.-
a..
..
..
Gold.
Silver.
Total.
Gold.
Silver.
Total.
£
£
£
£
£
£
The
368
THE CHRONICLE
line
marked
[VOL.
LXXXXI.
by Germans, setting poles 12 feet
apart, carrying wires run some 12 feet above the
ground. A windmill will drive a dynamo for genera¬
tion of current through these wires; some of this cur¬
rent, “partly by induction and partly because of its
low voltage, falls into or is absorbed into the ground
beneath, and has its effect upon the plants.”
If one asks explanation, there is none.
We must re¬
member that even the most accomplished electrician
knows no more than the youngest child as to what
electricity is or how it works; by study, deduction, and
(principally) by experiment, he has discovered some
phenomena, but not even he pretends to know all
the phenomena or to foresee what other phenomena
may, tree-like, branch out of the now^-known phenom¬
ena, if we may use such a figure.
The whole subject of
electricity is not beyond its infancy, so far as anybody
can affirm with
just certainty. So it will not serve to
dismiss such tales with incredulity, for really they are
no more seemingly impossible than was the
field.
tale of the
X-ray when this country first heard that. It seems
established that electricity does have some marked
ELECTRICITY AND AGRICULTURE.
It may be a year or more since a somewhat circum¬ relation to vegetable growth; what that relation is,
stantial tale appeared in the newspapers concerning and how pronounced and valuable it may become, lie
before us to find out.
a produce grower somewhere in New Jersey whose
At least, we know that agriculture upon virgin soil
crops were the amazement and wonder of his neigh¬
bors in respect to abundance and size; study as they is like building in new country—it is a mere laying hold
might, they were unable to match his product, nor of the naturally accumulated stores of material right
It is of the “easy” and temporary sort.
could they imagine the secret. A trolley company at hand.
whose line passed that way, wandering up and down While the earth remains so “kindly” that (as Douglas
hill as it followed the highway in rural fashion, had Jerrold said of Australia) “if you tickle her with a hoe
also, as it happened, been trying to understand why she laughs with a harvest,” agriculture remains super¬
Our American part of the earth no longer
the cost of its power bore so high a proportion to the ficial.
consumption; some accident gave a turn to the in¬ “laughs” as it once did, as consumers are being made
There must be new methods, more
quiry, and at last the company discovered that this in¬ to realize.
genious and thrifty cultivator had tapped the line by studied, scientic and intensive; and it is quite within
an unobtrusive wire of his own and had been quietly
possibility that electricity may play its large part
converting the absorbed current into vegetable luscious¬ in those.
the nature of the case, to be non-partisan
The fact that political lines are nowadays
more and more radically broken in municipal elections
has something to do with creating this tendency; the
nature of the newer problems of city administration,
which are distinct, as national problems very rarely
are, from considerations of party policies, has even
more to do with it.
The result, at all events, is to
enlarge the political opportunities of a successful city
administrator in a degree which the politicians of a
generation ago could scarcely have conceived. We
imagine that this political tendency will continue,
and we believe its continuance to be altogether whole¬
some.
We hold this belief, especially in view of the
fact that, just as corrupt city administration has for
years been a primal source of demoralization in our
national politics, so a clean and efficient city adminis¬
tration is bound to operate as a distinct promotive and
encouragement to sound government in the national
is apt, from
in attitude.
out
ness.
This tale
possibly amused readers but attracted
slight attention. Now, however, the subject comes
forward with some prominence, and it is averred that
experiments abroad have already established that
ordinary vegetables and small fruits show an increase
of from 25 to 125% by electrical treatment, and the in¬
ference, of course, is that this is only a beginning. Sir
Oliver Lodge is mentioned as one prominent English
experimenter. A very circumstantial account is given
of the work of a very advanced cultivator in Oneida
County, who turned farmer after taking a full course in
electricity, and proceeded to put his studies to prac¬
tical service by installing a small dam and turbine on
Oriskany Creek. He milks twenty cows, runs sepa¬
rators and churns, drives egg-beaters, ice-cream freez¬
ers, washing machines and wringers, does all his cook¬
ing, heating, cooling and lighting by the current he
has thus developed.
This story covers merely the
farm work; but so resourceful a farmer will not be
slow to push his experiments to what further success is
attainable.
A retired
Brooklyn judge has now bought several
acres on the north shore of Long Island and, after
correspondence with experimenters abroad, is install¬
ing electrical apparatus, and expected to begin sowing
the present month, August, confining himself, for this
late season, to fast-growing vegetables, such as let¬
tuce, onions and radishes. He will follow first the
FOREIGN VIEW OF RAILROAD COMBINATIONS.
The United States Government has set its face
so
determinedly, not to say unreasonably, against any¬
thing savoring of co-operation or unity of action on the
part of the railroads that the impression has been cre¬
ated throughout Europe that the Administration is
antagonistic to capital per se. The majority and
minority reports just issued by the Vice-Regal Com¬
mission on Irish Railways, while differing on most
points, agree that unification is desirable; manifestly
the co-operation forbidden in this country would be
welcomed in Ireland as facilitating efficiency and
economy.
The transportation
systems in Ireland, built
more
haphazard by private enterprise, are not to
be compared with those of Great Britain, where nat¬
ural conditions have been more propitious and where
scientific methods have been skilfully applied. The
movement to lift Ireland from its deeply embedded
industrial depression could not overlook the island’s
inadequate and unsatisfactory railway facilities; hence
a commission consisting of eminent business men was
appointed by the Government, and after hearing 248
witnesses and holding 151 meetings, an exhaustive
report covering the whole investigation has been pre¬
pared. The one unanimous conclusion arrived at
or
less at
is
as
follows:
Aug. 13
1910.]
THE CHRONICLE
369
The Commission is unanimous that, in view of the
economic condition of Ireland, there should be uni¬
fication of the Irish railways, with the object of
preceding, increased its operating expenses only $1,108,411, thus leaving a gain of $1,921,155 in net earn¬
securing ings. Of course this
improvement follows losses
special and cheap transit arrangements, which are not
in
net
in
both
1908-09
and
1907-08.
under
practicable
the present system of private com¬
Making due al¬
panies, whose first consideration must necessarily be lowance, however, for these antecedent losses, net
the
interest of shareholders.
As to how this unification should be
consummated,
the Commissioners cannot agree.
Their views are of
for 1909-10
previous
was
$929,134 in
excess
of that for the best
year.
The annual report
attributes the good results of the
necessity governed by the economic and other con¬ year’s operations principally to the
policy which the
ditions in Ireland, particularly by the lack of
capital, company has pursued during the last eight or ten years
the sparseness of population and the backwardness of
devoting liberal sums to the improvement of the
of private enterprise—matters that do not at all
apply property and to additions and betterments. The man¬
in the United States. The
majority accordingly agement prides itself upon the high character of the
recommend State control as the only feasible solution. service
maintained by the company, and it is pointed
They suggest the acquisition and administration of out that it has been the constant endeavor to
improve
the railways by an Irish elected
authority, consisting the service to shippers and the traveling public, in
of four Government nominees and sixteen elected
the belief that revenues would
fully respond to such
members, the State to guarantee the interest on the endeavors, and in this
expectation it has not been dis¬
necessary capital, which is to be charged on the net appointed
At the same time, it has been the endeavor
revenue of the
lines; but any deficit to be made up by to reduce the cost of performing the service
through
a special rate.
The properties, it is recommended, the improvements made and
through economies in
should be acquired by an issue of State
guaranteed operation. In the year under review, the ratio of
stock, the interest on which would be a first charge on expenses to revenues was less than
60% (59.95%),
the combined revenue,
any deficit in net revenue to be against 62.09% in the
previous year and 62.83% two
met by an Exchequer grant of
$1,250,000 per annum; years ago. If we go further back, we find that in
in case this grant were
insufficient, a general rate 1901-02 the ratio was 75.17% and in 1900-01 it was
would be levied in Ireland, while if the
grant were not 79.50%. As President E. B. Thomas notes in his
needed it would be applied as a reserve fund for con¬
comments, the good showing for 1909-10 was attained
structing additional lines and in other ways improving during a year when practically all
the elements of cost
the country’s transportation facilities.
entering into the expense of operation materially ad¬
The minority oppose State control and favor
vanced.
One of the most serious of these, Mr. Thomas
merely
the encouragement of
voluntary amalgamation be¬ says, is the increase in rates of wages to all classes of
tween the existing
companies, this business-like process employees. These increases, however, he takes
pains
to be stimulated by
suitable legislation and, in certain to state, did not count in full
during the whole of the
cases, by financial assistance.
If at the end of three twelve
months, as the more important of them did
years no agreement along these lines had been
effected, not apply until after Jan. 1.
them the different
companies should be compelled to
As showing what has been
accomplished through
amalgamate within four years on terms to be fixed the improvements in the character of the
equipment,
by arbitration. This recommendation is put forward combined with the reduction in
grades
and
straighten¬
not by theorists but
by .these well-known men of ing of alignment, Mr. Thomas refers to the increase in
affairs: Sir Herbert Jekyll, Assistant
Secretary of the the average number of tons of revenue freight in each
Board of Trade; Mr. W. M. Ackworth and Mr.
Aspinall, train from 485.52 tons for the year 1903 to 542.36
General Manager of the Lancashire & Yorkshire
RR.
tons in 1910.
A corresponding decrease in the cost
In the United
States, railroad managers who dare per ton mile resulted. When the comparison
is ex¬
to endeavor to work
harmoniously run the risk of tended further back, there is yet more striking evi¬
being branded as malefactors and of being haled before dence of advance in
operating efficiency, for in
a
legal tribunal for punishment. The economic law, 1898 the
average train-load was only 384 tons, and
however, cannot be permanently frustrated by man¬ this apparently included
company freight; for 1910,
made legislation; in due time wiser counsels
will pre¬ we have already seen, the
average train-load of revenue
vail in the regulation of our
great business enterprises. freight was 542 tons, and
including company freight
.
LEHIGH VALLEY’S PERIOD OF PROSPERITY.
The annual report of the
Lehigh Valley Railroad
Co. comes to hand much earlier than in
other years,
and the company is the first of the
the average was 561 tons.
Now that the property
has developed a high earn¬
ing capacity and is making large profits (dividends are
6% per annum and earnings about three times that
larger railroad amount), it is important that sight should not be lost
properties to submit its report for the year
ending of the sacrifices that had to be made to attain the pres¬
June 30 1910. The
report confirms the indications of ent enviable state. The
Lehigh Valley had for a long
prosperity furnished by the returns issued from month period been
paying dividends of 8 to 10% a year, but
to month during
the course of the year. We imagine was not
being kept up to date—that is, needful out¬
few other large
companies will be able to present an lays for
additions, betterments and improvements
equally favorable record for the same period of twelve were not
being made, with the result that the road was
months.
Speaking of the railroads collectively, the unable to handle an
increasing volume of traffic with
feature of operations
during the twelve months under growing efficiency and
economy.
Then came a change
review has been the
in which augmented operat¬ of
management and with it a change of policy, under
ing expenses have consumed gains in gross revenues, which the
property has been brought up to modernbut the Lehigh Valley, while
adding $3,029,566 to its day requirements.. Dividends were suspended and
gross revenues as compared with the twelve months
for a number of years shareholders had to go without
way
THE CHRONICLE
370
short, and most persons
have doubtless forgotten how clamorous a minority
element among the shareholders was for a return to
dividend payments. The management, however, ad¬
hered to its policy and continued to apply earnings in
raising the standard of the property. When eventually
any
return.
Memories
are
enue
from the merchandise
[Vol.
lxxxxi.
freight from $9,272,317
$14,757,799, and the earnings from the passenger
traffic from $2,989,004 to $4,330,172. This plainly
to
indicates
The
sure
large all-around development.
improvement work wrhich was necessary to en¬
this extension of the business of the system
and
resumed, payments were commenced to promote economies in operation is to be actively
continued. To that end the capital stock of the com¬
on a small scale; indeed, it has been only during the last
three or four years that these dividends have been 6% pany has recently been largely increased. The report
The outcome has fully justified the new says expenditures for additions and betterments dur¬
per annum.
policy, as the annual reports of the company have ing the year amounted to $5,205,205, of which $843,877 was deducted from income.
At a special meeting
made amply evident.
The fact that the company’s present prosperity is so of the board of directors, held June 22 last, authority
largely owing to the use of earnings in improving the was given to increase the common stock of the com¬
property deserves to be recalled and borne in mind at pany from $40,334,800 to $80,000,000. Of the new
this juncture, because the Interstate Commerce Com¬ stock, $20,220,550 was at once offered to the sharehold¬
mission is now endeavoring to lead the roads into the ers for subscription at par. The proceeds of this new
opposite path. The roads are no longer allowed to stock are to be used to pay off the $6,000,000 7% sec¬
charge improvements to expenses, and in the balance ond mortgage bonds maturing Sept. 1 1910 and to re¬
sheets all outlays made since June 30.1907 for invest¬ tire other obligations, and.also to provide for such ex¬
ment in road and equipment must be charged to cost penditures generally as may be necessary to enable the
of road and equipment, whether paid for out of income company to render adequate and proper transportation
or
not.
Furthermore, additions and betterments service in the territory reached by its lines.
made since 1907 and charged to income have had to
RAILROAD GROSS EARNINGS FOR JULY.
be credited back to profit and loss. Mr. Thomas ad¬
While cost of railroad operations keeps steadily
verts to these and other changes in the form of the
general balance sheet as prescribed by the Commission. rising and expenses as a result are expanding in a most
He says that, “while the methods in certain particu¬ noteworthy way, on the other hand railroad gross
lars would seem to be somewhat at variance with con¬ receipts continue to increase notwithstanding the
servative accounting, and have produced charges to slackening of activity in various lines of trade. That,
capital account which, in the opinion of your manage¬ indeed, is the one conspicuously favorable feature in
Whether the gains in gross will remain
ment should have—and if left to their discretion would the situation.
have—been absorbed in operating expenses, never¬ of sufficient magnitude to offset the increases in ex¬
dividends
were
has endeavored to comply in all
respects with the various orders issued by the Com¬
theless your company
penses only the future can determine.
The occasion
for these remarks is the appearance of our preliminary
compilation of gross earnings for the month of July,
sion’s requirements involve a departure from conserva¬ covering of course only the roads which make it a
tive methods, such as in the past have been attended practice to furnish early figures, inasmuch as only
with most excellent results. The object is, of course twelve days have elapsed since the close of the month.
perfectly plain. The intention is to hold down earn¬ Our totals embrace altogether 88,593 miles of line
ings to a basis where they will admit of only a bare re¬ for 1910, or considerably over one-third the railroad
turn on the investment, leaving nothing available out mileage of the country.
On this mileage there is an increase as compared
of income for the making of additions and improve¬
ments, thereby compelling a resort to new capital out¬ with the corresponding month of last year of $5,247,226, or somewhat over 9 per cent—in exact figures
lays for such work.
Another feature in the policy of the Lehigh Valley 9.02%. This improvement is smaller in both amount
management should not be overlooked. This has to and ratio than that for the months immediately pre¬
do with the way in which the traffic of the system has ceding.
For instance, in June our early returns
showed
been developed.
$8,356,824 increase, or 15.14%, while for
Formerly the company was dis¬
tinctively an anthracite carrier. The anthracite ton¬ May the increase was $8,772,771, or 16,98%. But
nage is still a very important item in the road’s pros¬ undue significance should not be attached to that fact.
perity, but the company is not so exclusively depend¬ The month of July the present year had an extra
ent upon this one class of traffic as it once was.
In Sunday—that is, there were five Sundays against only
other words, traffic has been diversified, and particu¬ four in the same month of 1909. This means that
lar attention has been given to developing the general the month in 1910 contained only twenty-five working
merchandise freight. As compared with the year pre¬ days (allowing for the Fourth of July holiday),
ceding, there was in the late year an increase in the against twenty-six working days in the month of 1909.
coal freight of $990,127, in the merchandise freight of This loss of a working day doubtless served to pull
$1,465,968 and in the passenger earnings of $425,110. down the ratio of increase 3@4%. In other words,
One gets, however, only an inadequate conception except for the loss of a day in this way the increase
of what has been going on from a comparison extend¬ would probably have been in the neighborhood of 13%
ing back no more than one year. Reverting to the instead of 9% as now actually recorded.
It should also be remembered that our table includes
fiscal year 1901, we find that in the interval of nine
years since then the earnings from the coal freight three Canadian roads, and of these one, namely the
(and this includes not merely anthracite coal but bitum¬ Grand Trunk Ry. of Canada, suffered from a strike.
inous coal, where there has beep noteworthy growth) The conductors, brakemen and .yardmen of that
have increased from $9,636,802 to $15,821,797; rev¬ system and of its controlled road, the Central Vermission.”
There
can
be
no
doubt that the Commis¬
Aug. 13 1910.
|
THE CHRONICLE
371
mont, quit work July 18 and tied up freight traffic for Contrariwise, St. Louis, a winter-wheat
market, re¬
the time being on the entire system from Portland, cords for the four weeks deliveries of
only 2,068,578
Me., to Chicago, Ill. This labor trouble was not ad¬ bushels, against 2,725,651 bushels. Corn, oats and
justed until the early part of the next month, and barley show increased receipts and in the case of oats
what an influence it was in reducing earnings is evi¬ the increase is
very marked.
In the case of all the
dent from the fact that the Grand Trunk of Canada
cereals, however, there are points which form excep¬
reports a loss for the month of $311,288. With this tions to the rule. For wheat, corn, oats,
barley and
road enj oying a normal gain instead of the loss
actually rye combined the deliveries for the four weeks of 1910
9.00909011001999111
recorded, and with the month containing the same were 43,980,639 bushels, against 36,344,352 bushels
number of working days, it is easy to see that the ratio for the
corresponding four weeks last year. The
of improvement for July might have been
quite up to details of the Western grain movement in our usual
that for the months
As far
as
preceding.
form
the movement of the
the railroads is
concerned, it
leading staples
appears
over
that Southern
roads fared somewhat better in their cotton
traffic,
while Western roads continued to enjoy an increase in
their
grain traffic. All through the crop season up to
July there had been a heavy falling off in the cotton
traffic. In July the cotton movement proved
larger
than the small movement of last year.
this was due to the manipulation of
Doubtless
July contracts
at New York, under which a
higher parity was main¬
tained here, causing cotton to be rushed to this
point
from all parts of the South, some coming
all the way
by rail and some going to the nearest Southern outport and then being shipped by steamship to New
York. Gross shipments of cotton overland for
July
1910 were 58,558 bales, against 38,689 bales in
July
1909 and 45,311 bales in July 1908.
The receipts at
the Southern ports were 126,584
bales, against 93,744
bales last year and 129,092 bales the
year before.
From the following table, giving the details of the
port
receipts, it will be observed that, notwithstanding the
increase in the aggregate, the Texas
ports received
veiy much less cotton than in other years.
For
instance, Galveston got only 8,495 bales, against 32,-
873 bales in 1909 and
65,378 bales in 1908.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN
JULY AND FROM
JANUARY 1 TO JULY 31 1910, 1909 AND 1908.
July.
Ports.
1910.
Galveston
.
Port Arthur, &c
New Orleans
Mobile
Pensacola, &c
Bales
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newport News, &c
Total
The Western
8.495
100
28,228
11,054
1,762
27,656
Since
1909.
1908.
32,873
1,998
24,602
10,562
65,378
9,116
8,984
27,041
5,960
6,456
12,870
12~813
"208
1~324
200
335
65
129
100
35,941
3.643
1,564
126,584
3,045
5,269
1,649
1910.
j
WESTERN FLOUR AND GRAIN RECEIPTS.
Flour.
Wheat.
Com.
Oats.
Barley.
Four weeks end
ing July 30.
Chicago—
1910
1909
follows.
(bbls.)
-
'
(bush.)
(bush.)
(bush.)
(bush.)
488,616
477,706
2,658,800
4,536,650
5,719,050
6,105,250
6,189,400
3,650,725
1,231,500
1,112,200
39,500'
232,225
174,425
436,180
364,274
405,670
353,200
938,400
448,500
383,400
207,900
17,340
19,000
180,000
137,950
2,068,578
2,725,651
1,402,335
1.396,520
1.215,975
991,680
8,465
24,700
11,090
6,081
297,000
554,000
206,750
144,400
239,300
73,500
21,898
14,512
99,699
71,692
113,537
196,724
183,034
143,045
4,961
4,251
62,207
44,220
169,381
318,400
296,439
419,325
2,926
7,500
164,800
145,950
177,061
175,000
1,015,118
674,523
888,100
365,393
74,400
45.000
53,900
13,000
55,600
488,800
1,444,027
575,271
51,135
151,923
183,840
325,297
578,011
261,248
5,061
3,333
4,247,870
2,557,270
630,570
399,510
838,940
439,520
601,480
531,660
50,170
34,392
7,409,200
956,000
795,100
3 5,300
2,880,182
2,190,208
181,561
135,906
57.000
*
1910.
St. Lends—
Toledo—
Detroit—
Cleveland—
‘
1909.
Peoria—
1910
Duluth—
Minneapolis—
1909
Kansas
City—
1909
4,733,150
Total of all—
1910
1909
1909.
4,500
3,100
298,500
1,148,100 18.900,622 10,669,546 11,348,728
1,543,294 16,327,178 10,535,555 7,155,505
Last year our
early compilation of earnings, cover¬
ing 78,680 miles of road, showed an increase of $4,182,933, or 8.42%. The present year’s gains are in addi¬
tion to these gains of last year.
In 1908 of course
there was a heavy loss owing to the
great industrial
depression prevailing at that time, and our July state¬
ment then recorded a
falling off of $11,242,352, or
16.57%. Below we furnish a summary of our early
July totals each year back to 1896.
1908.
693,806 1,226,962 1,154,264
107,615
234,157
82,453
597,960
890,021
924,424
84,611
142,353
113,310
59.215
92,672
81,246
248,544
409,918
384,159
39,817
106,871
66,068
36,251
61,858
36,771
792
662
1,356
41,806
114,245
132,635
172,964
205,928
192,742
7.269
15,444
3,386
93,744 129,092 2,090,650 3.501.785 3.172,120
Mileage.
Gross
July.
Year— Roads
1896
126
1897
122
1898
126
1899
111
1900
99
1901
88
1902
79
1903
75
1904
67
1905
55
1906
68
1907
65
1908
53
1909
52
1910....
50
....
Jan. 1 to
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906....
1907
1908
1909
1910....
July
121
120
125
108
99
85
78
75
67
54
68
65
53
51
50
Year
Given.
Year
InPreced. cr’se.
Miles.
Miles.
93,193 92,43
96,605 95,286
90,942 90,417
94,980 93,906
93,573 90,528
91,846 89,891
94,718 92,947
97,910 96,049
85,558 83,243
75,398 73,629
96,484 94,276
97,152 96,231
82,225 80,944
78,680 77,193
88,593 85,507
%
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
Year
Given.
Earnings.
Year
'
$
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
53,904,004
63.504.951
Increase
-
Preceding.
%
38,504,094
41,056,206
38,822,059
42,625,375
46.085,544
46,334,619
56,849 967
(+)
Decrease (—).
$
+ 1,418,997
+ 1,999,181
+ 579,026
+ 7,154,071
+ 2,798,468
+ 6,515,026
+ 4.347,381
+ 7,414,895
—1,004,582
+3,485,443
+ 10,392,107
+ 9,326,102
%
3.68
4.86
1.49
16.78
6.07
14.06
7 64
11.96
61,980,921
55,607,185
1.80
46,659,292
7.47
71,186.181
14.60
80,982,305
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
31.
90,918
96,048
90,920
94,604
93,573
88,374
94,573
97,910
85,558
75,141
96,484
97,152
82,225
77,616
88,593
90,118
94,729
90,395
93,530
90,528
86,419
92,802
96,049
83,243
73,372
94,276
96,231
80,944
76,170
85,507
0.88 254,840,255 238,948,747 +
15,891,508 6.65
1.38 274,635,194 272.821,160
+ 1,814,034
0.66
0.58 276,240,565 2-7,351,746 + 28,888,819 11.68
1.14 321,435,882 298,502,817
+22,933,065 7.68
3.36 336,441,873 299,297,422
+37,144,451 12.41
2.03 317,871,965 288,590,907 + 29,281,058 10.14
1.91 400,633,078 369,655,341 +30,977,737
8.38
1,93 462,741,784 408,483,911 + 54,257,873 13.29
2.78 365,668,378 372,108,550
—6,440,172
2.42 334,014,442 312,876,815 +
21,137,627
2.34 541,466,463 468,552.630 + 72,913,833
0.95 592,730,696 537,562,604 + 55,168,092
1.58 361,745,684 436,752,181 —75,006,497
1.90 346,539,778 311,855,551
+34,684,227
3.61 437,424,445 377,461,389 + 59.963,056
Note.—Neither the earnings of the Mexican roads
of the anthracite coal roads are included in this
table.
As far
as
the separate roads are
nor
1.73
6.75
15.56
10.24
17.18
11.12
15.90
the mining operations
concerned, there
only six other companies besides the Grand Trunk
Ry. of Canada which record decreases out of the 50
roads contributing returns. Among those
showing
increases the Canadian Pacific belongs in a class all by
itself and has a gain reaching no less than $1,656,000.
The strike on the Grand Trunk Ry. may have operated
are
J
Bye.
(bush.)'
January 1.
grain movement, treated as a whole,
larger than that for last year. But distinction
must be made between the different
primary .points
and also to some extent between the different
cereals.
Wheat receipts,
notwithstanding the shortage of the
growing spring-wheat crop, ran heavier than in 1909,
reaching for the four weeks ending July 30 18,900,622
bushels, against 16,327,178 bushels. The movement
to the different
points, however, was very uneven and
irregular. At Kansas City, which receives only winter
wheat, the deliveries for the four weeks were 7,409,200
bushels, against 4,733,150 bushels, but at Chicago,
which receives both
spring and winter wheat, the
deliveries were only 2,658,800
bushels, against 4,536,650 bushels.
On the other hand, at
Duluth and
Minneapolis, which are distinctively spring-wheat
points, there were important gains, Duluth receiving
1,444,027 bushels against 575,271 bushels, and Minne¬
apolis 4,247,870 bushels against 2,557,270 bushels.
was
set out in the table which
are
[VOL. LXXXXI.
THE CHRONICLE
312
advantage, and yet the gains in
previous months were of even larger magnitude.
Among United States roads the largest increase is that
by the Illinois Central, namely $414,620. In the
table we now present we have brought together all
changes for the separate roads for amounts in excess
of $30,000, whether increases or decreases.
somewhat
PRINCIPAL CHANGES IN GROSS
EARNINGS IN JULY.
Increases.
Increases.
Canadian Pacific
Illinois Central
Canadian Northern
Great Northern
Southern Railway
Louisville & Nashville
$81,000
$1,656,000 Internal & Great Northern
414,620 Alabama Great Southern.
381,600 Colorado & Southern
341,933 Denver & Rio Grande
340,067 Ala New Orl & Tex P (3)
294,142 Yazoo & Mississippi Valley
72,783
70,609
67,700
67,653
64,961
61,774
35,695
35,124
31,207
_
232,129 Wabash
Chesapeake & Ohio
Missouri Kansas & Texas.
Missouri Pacific
Mlnneap St Paul & S S M_
Seaboard Air Line
Central of Georgia
St Louis Southwestern
Texas & Pacific
Chicago Great Western
Cln New Orl & Texas Pac.
206,610 Chicago Indianap & Louis
205,000 Detroit Toledo & Ironton.
191,260 Mobile & Ohio
148,892
Representing 28 l'oads In
our compilation
$5,500,751
122,500
107,529
102,869
Tlprrpn qp<?
85,951
$311,288
Grand Trunk (4)
81,143
Note.—Figures in parenthesis after name of road Indicate the number of
lines or companies for which separate returns are given in our compilation.
complete our analysis w*e furnish the following
six-year comparisons of the earnings of the leading
roads arranged in groups. While 1910 earnings gener¬
ally are better than for any preceding year it will
not escape attention that there are roads in each
group which, notwithstanding the increases of the last
two years, have as yet failed to get back to their
totals of 1907.
1908.
1909.
S
S
279,875
Alabama Gr Sou.
3.52,658
Ala N O & T P—
240:815
NOi Nor E..
276,259
Ala & Vicksb..
121,332
134,422
108,298
Vicks Shr & P.
125,417
182,061
Atl Birm & Atl..
201,945
872,900
Cent of Georgia.
995,-100
Ches & Ohio-..-. 2,612,136 2,410,007
662,013
C'in N O & Tex P
743,156
Louisv & Nash.fr 4,182,935 3,888,793
783,566
Mobile & Ohio..
814,773
Seaboard AirLine 1,510,441 1,361,549
Southern Ry
4,700,564 4,360,497
Yazoo & Miss V.
<z720,770 0655,815
1906.
S
$
293,623
212,106
117,611
108,300
141.788
931,262
_
1907.
2,095,132
633,181
3,680,352
727,166
1.186.353
4,086,061
a584,551
361,987
1905.
Ala N O & Tex Pac—
New Orl & N E
Alabama & Vicksb..
Vicks Shrev & Pac
Altanta Blrm & Atlan
BufI Roch & Plttsb...
Canadian Northern
Canadian Pacific
Central of Georgia
276,250
134,422
125,417
.
201,945
801,247
1,225,100
8,660,000
995,400
2,642,136
1,101,785
950,975
520,594
743,156
1,350,418
2,012,100
111,368
103,220
Chesapeake & Ohio..
Chicago & Alton
Chicago Great Western
Chicago Ind & Louisv.
_
_
_
Cln New Orl & Tex Pac
Colorado & Southern..
Denver & Rio Grande.
Denver Nortlnv & Pac
Detroit & Mackinac
Detroit Toledo & Iron
Ann Arbor
Duluth So Sh & Atlan.
148,914
152,164
313,502
197,080
Georgia Southern & Fla
Grand Trunk of Can.]
Grand Trunk West. )
Det Gr Hav & Mllw |
Canada Atlantic
J
Great Northern
Illinois Central.
Internat & Great North
Iowa Central.
Kan City Mex & Orient
Louisville & Nashville..
Macon <*fc Birmingham
Mineral Range.
291,779
243,841
230,528
102,391
107,446
101,213
115,450
155,936
89,301
117,143
877,960
953,936
954,364
2.390,152 1.927,910 1,775.613
613,386
770,935
739,588
4,126,037 3,711,760 3,307,982
801,350
703,435
908,485
1,290,861 1,179.686 1.120,855
4,789,909 4,479,795 4.022,954
721,114
588,467
528,636
269,520
122,977
131,698
1909.
$
+ 72,783
309
309
195
+ 35,444
240,815
142
+ 13,090
121,332
171
+ 19,119
106,298
670
+ 19,284
182,661
568
—19,437
820,684
+ 381,600 3,297
843,500
10,276
1,656,000
+
7,004,000
+ 122,500 1,916
872,900
+ 232,129 2,223
2,410,007
998
+ 12,097
1,089,688
1,487
+ 85,951
865,024
616
+ 35,695
484,899
336
+ 81,143
662,013
2,032
+ 70,609
1,279,809
2,553
+ 67,700
1,944,400
214
+ 8,248
103,120
370
+ 1,095
102,125
441
+ 35,124
113,790
300
—8,022
160,186
609
+ 15,938
297,564
395
+ 27,579
169,501
195
142
Minn StP&SSM...
Mo Kan & Texas
Missouri Pacific
Mobile & Ohio
.
.
.
_
Nevada-Cal-Oregon
New Orleans Mob & Chi
Rio Grande Southern.
St Louis Southwestern.
Seaboard Air Line
Southern Railway
Texas & Pacific.
Toledo Peoria & West
Toledo St Louis & West
Wabash
Yazoo & Miss Valley..
_
171
642
568
3,094
9,426
1,916
1,896
998
1,476
616
336
1,952
2,516
214
348
441
300
593
395
3,491,184
—311,288
4,528
4,528
5,656,872
4,983,964
653,000
225,737
162,559
4,182,935
5,314,939
4,569,344
572,000
252,739
139,889
3,888,793
+ 341,933
+ 414,620
+ 81,000
7,129
4,551
1,159
6,961
4,551
1,159
—27,002
+ 22,670
+ 294,142
558
740
4,600
558
660
4.401
105
127
129
1,027
3,569
3,340
7,170
1,114
1,027
3,458
3,072
6,488
1,114
184
403
180
184
403
180
1,476
2,995
7,050
1,885
1,469
2,997
7,050
1,885
248
451
248
451
2,514
1,372
2,514
1,371
11,780
+ 297
73,257
366,760
1,711,950
1,913,863
4,007,000
783,566
—16,606
+ 17,801
+ 191,260
+ 206,610
+ 205,000
+ 31,207
—12,021
+ 17,547
+ 7,612
+ 107,529
+ 118,892
+ 340,067
+ 102,869
+ 10,095
19,412
43,701
96,519
1,121,595
44,693
798,794
1,361,549
4,360,497
1,018,726
93,703
284,790
2,300,140
720,776
304,202
2,238,366
655,815
4,700,564
_
63,504,951
Total (50 roads)
$
279.875
3,179,896
12,077
56,651
384,561
1,903,210
2,120,473
4,212,000
814,773
31,680
114,066
52,305
906,323
1,510,441
Mlnneap & St Louis
s
$
323,768
1910.
$
352,658
Alabama Gt Southern.
.
1910.
July.
Inc. (+) or
Dec. (—).
1909.
1910.
_
EARNINGS OF SOUTHERN GROUP.
Mileage.
Gross Earnings.
Name of Road.
.
To
JULY.
GROSS EARNINGS AND MILEAGE IN
THIS YEAR AND LAST YEAR.
its
to
83,608
—
+ 61,774
+ 64,961
105
58.257,725 + 5,247,22.' 88,593 85,507
Not Inrreasp 19.02°3,1
Mexican Roads (not inc luded in tot al).
684,928
680,940
Interoceanlc of Mexico
1/473,000
f/437,600
Mexican Railway.
04,482,293
a5,275,783
Nat Railways of Mex._
1,026
1,018
361
361
6,180
6,180
International in both years.
a
Now Includes Mexican
V
These figures are for three weeks only.
GROSS
+ 3,988
—35,400
+ 793.490
EARNINQS FROM JANUARY 1 TO JULY 31.
THIS
LAST YEAR.
YEAR AND
17.400.8S2 15,926,121 14,797,486 16,993,975 15,293,140 13,760,043
Total
Name of
1910.
Road.
Includes some large items of income not previously included in monthly returns.
1) Includes Louisville & Atlantic and the Frankfort & Cincinnati in 1910 and 1909.
1909.
Increase.
$
S
Decrease.
a
EARNINGS OF SOUTHWESTERN GROUP.
July.
1910.
1909.
1908.
1907.
1906.
1905.
s
S
3
S
$
$
1,190,244 1,017,221
2,027,337 1,696,706
552,271
571,622
2,224,535 1,848,354
4,112,562 3,861,349
732,744
860,694
1,215,346 1,010,338
867,138
1,505,427
486,522
1,626,731
3,062,091
670,181
822,379
12,375,909 11,534,592 10.660,381 12,202,340 10,728,991
9,640,469
Colo & South *.. 1,350,418
Denver & Rio Gr 2,012,100
Internal & Gr No
653,000
Mo Kan & Texas 72,120,473
Missouri Pacific. 4,212,000
St Louis So West
906,323
Texas & Pacific. 1,121,595
Total
*
a
1,279.809
1,944,400
572,000
1,913,863
4.007,000
798.794
1,018.726
1,240,37'
1,084,82'
502,511
1,868,267
3,621,27777,10(
966,02f
Includes all affiliated lines except Trinity & Brazos Valley RR.
Includes the Texas Central in 1910.
EARNINGS OF NORTHWESTERN
1910.
July.
1909.«
AND NORTH PACIFIC CROUP.
190S.
1907.
1906.
1905.
S
%
8
S
S
S
8,660,000 7,004,000 6,292,881 7,008,274 5,967,968 4,629,175
760,270
613,763
714,212
632,569
865,024
950,975
329,912
283,724
226,115
297,564
313,502
269,498
5,656,872 55,314,939 64,450,493 5,640,054 5.023,951 3,895.160
231,712
245,611
234,825
215,121
225,737
252,739
313,014
362,814
318,575
366,760
297,160
384,561
1,930,210 1,711,950 1,609,371 1,843,816 1,697,145 1,368,829
18,121,857 15,812,970 13,737,349 16,144,693 14,286,458 11,307,512
a Includes Chicago Division in 1910, 1909 and 1908;
for previous years we have
combined Minn. St. P & S. S. M. and Wisconsin Central.
b Actual figures of earnings are now used for comparison.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
1910.
July.
$
801,247
520,594
1909.
S
820,684
484,899
1908.
S
653,572
453,602
Chic Ind & Louis
Grand Tr of Can
Grand Tr W. }• 3,179,896 3,491,184 3,320,114
Det G H & M |
Canada AtlanJ
Illinois Central.. al, 983,964 a4,569,344 a4,253,257
91,36-*
Tol Peoria & Wes
83,608
93,703
Tol St L & West.
293,814
304,202
284,790
2,077,977
Wabash
2,238,366
2,300,140
Chesapeake & Ohio
Chicago & Alton
Chicago Great Western
Chicago Ind & Louisville..
Cln New Orl & Tex Pac...
Colorado & Southern
Denver & Rio Grande
Denver Northwest & Pac..
Detroit & Mackinac.
Detroit Toledo & Ironton..
Ann Arbor
Duluth So Shore &
Atlan..
Georgia Southern & Fla—
Grand Trunk of Canada. .1
Grand Trunk Western.}
Detroit Gr Hav & Mllw |
Canada Atlantic
J
Great Northern
Illinois Central
Jnternat & Great Northern
Iowa Central
--Kansas City Mexico & Or.
Louisville & Nashville
Macon & Birmingham
Mineral Range
1907.
1906.
1905.
$
7 So,372
499,13-
S
560,092
507,156
S
766,4S7
498,181
3,950,937
3,605,234
3,229,213
5,111,937
93,39-*
341,89c
4,342,146 3,718,999
2,309,858
99.100
101,204
333,153
327,938
2,275,341 2,001,080
Minneapolis & St Louis —
S S M
Missouri Kansas & Texas..
Missouri Pacific
,-Mobile & Ohio
Nevada-Cal-Oregon
New Orleans Mobile & Chic
Rio Grande Southern
St Louis Southwestern....
Seaboard Air Line
Southern Railway
Texas & Pacific
Toledo Peoria & Western..
Toledo St Louis & Western
Minn St P &
Wabash
Yazoo & Mississippi
------
Embraces
some
large items of income not previously included in monthly returns.
Valley
Total (50 roads)
Net increase (15.90%)
,
1,480 ,772
5,032 ,653
7,257 ,000
53,723 ,976
6,742 ,929
18,224 ,591
7,260 .304
7,067 ,252
3,457 ,959
5,380 ,033
9,467 .534
13,134 ,374
540 ,465
733 ,452
921 ,957
1,087 ,643
1,895 ,906
1,333 ,690
2,025,517
524,192
259 .935
1,804,611
98 .610
867,213
45 ,094
779,586
238
,859
1,241,913
772 ,372
4,260,281
4,877,300 2,379 ,700;
42,605,662 11,118 ,314'
693 ,657
6,049,272
15,637,803 2,586 ,788
369
,150
6,891,154
5,853,835 1,213 ,417
425 ,825
3,032,134
779 ,144
4,600,889
8,271,564 1,195 ,970
11,826,447 1,307 ,927
196 ,121
344,344
41 ,052
692,400
157 ,622
764,335
130 ,517
957,126
262 ,863
1,633,043
127 ,690
1,206,000
24,356,077
21,717,079
2,638,998
35 205,283
28,167,857
32,472,027
4,317,504
1,733,290
895,286
25,865,059
77,166
471,785
2,260,085
10,609,847
13,422,408
26,331,436
5,576,302
247,106
840,678
298,836
5,589,868
10,631,167
29,442,951
7,037,426
3,882.352
343,530
110,251
151,498
4,779,526
36,354,379
4,661,034
1,843,541
1,047,784
30,644,585
75,101
443,864
2,663,999
12,400,676
14,522,978
30,161,046
6,230,241
214,049
994,313
345,967
6,099,607
12,020,983
32,710,779
8,552,271
670,062
2,081,554
16,255,445
5,721,579
2,065
27,921
403,914
1,790,829
1,100,570
3,829,610
653,939
33,057
153,635
47,131
509,739
1,389,816
3,267,828
7,636*894
915,377
597,5981
72,464
1,926,606i
154,948
14,747,215) 1,508,230
5,361,910
359,669
437,421,445 377,461,389 60,026,099
59,963,056
Mexican Roads (not incl uded In tot al).
5,243,969
4,941,832
iteroceanic of Mexico
i/4,640,400 i/4,193,900
[exlcan Railway
a38.487.258
734,056,523
atianal Railways of Mex.
12,164,334 11,992.287 11,143.70C 13,092,521 11.723,222 10,673,102
a
2,064 ,546
965 ,823
824 ,680
Vicksburg Shrev & Pac..
Atlanta Blrm & Atlantic..
Buffalo Rochester & Plttsb
Canadian Northern
...
Canadian Pacific.
Central of Georgia
I
-
Canadian Pacific.
Chic Great West.
Duluth So Sli
Great Northern..
Iowa Central
Mlnneap & St L.
Minn StP&SSM.a
Total.
$
2,549, 709
Alabama Great Southern..
Ala New Orl <& Tex Pac—New Oii & Northeastern
Alabama & Vicksburg..
302,137
446,500
4,430,735
»«
Includes the Mexican International in both years.' -nd
a
Now
y
These figures are
down to the end of the third week only.
63,043
THE CHRONICLE
Aug. 13 1910. J
313
exempt him from its provisions, would destroy his business,
consisting in part of transmitting moneys to foreign countries,
—The public sales of bank stocks this week aggregate 465 and which it has taken him twenty years to build
up.
He
shares, of which 397 shares were sold at the Stock Exchange refers to the fact that hotel-keepers, express companies and
and 68 shares at auction.
No trust company stocks were telegraph companies are permitted to transmit
money with¬
sold.
out being subjected to the conditions imposed under the
Shares. BANKS—New York.—
Low.
High. Close. Last previous sale.
new
Act, and his petition contends that the law
*30 City Bank, National.------ 380
360
360
May 1910— 385^
is “illegal and void because in contravention of the Four¬
*63 Commerce, Nat. Bank of
195
196
196
Aug. 1910— 197
teenth Amendment of the United States,
50 Fourteenth Street Bank
150
150
150
July 1910— 150
in that
*304 Fourth National Bank
184
184 H 184^ Aug. 1910— 184 ^
it impairs contract rights and attempts to regulate and im¬
18 West Side Bank
601
601
601
pose a tax upon inter-State and foreign commerce.”
He
Sold at the Stock Exchange.
also alleges that under the law he “would be deprived of his
—Initial steps in the formation of a system of
clearing valuable property rights without due process of law, would
houses by each of the nine groups comprising the Ohio Bank¬
be deprived of his liberty and right to make contracts, and
ers’ Association were taken at a meeting held in Columbus he would likewise be
deprived of equal protection under the
on the 3d inst.
by the special committee having the matter law in contravention of the provisions of the Constitution
in charge.
The appointment of this committee was author¬ of the United States.”
ized at the annual meeting in June of the Bankers’ Associa¬
—In its issue of the 8th inst., the New York “Journal of
tion.
As we reported in our issue of June 11, it was pro¬
Commerce” reports the receipt of advices from abroad to the
posed, in view of the aid afforded the banks of the larger effect that the
Liverpool Cotton Bills of Lading Conference
cities during the 1907 panic by the use of clearing-housecer¬
(1907) Committee has drawn up an agreement with ship¬
tificates and scrip, to undertake the establishment of a State
owners which provides that all bills of lading be numbered
clearing house, or group clearing houses, to act in case of
consecutively, each shipping port starting on Jan. 1 of each
any financial panic.
The committee, which is made up of year with No. 1. Port bills of
lading and custody bills of
nine members, representing each of the groups, has unani¬
lading, it is stated, are to be numbered separately, thus:
mously decided upon the organization of a clearing house New York Port Bill of
Lading No. 1—1911; New York Cus¬
in each of the groups.
The Ohio “State Journal” reports tody Bill of Lading No. 1—1911 m.
Referring further to
that it is also proposed to provide for the issue of $5,000,000
the matter, the “Journal” says:
clearing-house certificates by each group, or $45,000,000 in
Except in cases of force majeure, strikes or other unavoidable and un¬
all.
The same authority notes that, while it may never be foreseen events, all cotton for which a port bill cf lading is issued will be
necessary to resort to the issue of these receipts by the group actually put on board within ten days from date of such bill of lading.
If the cotton, or a portion of it, is unavoidably shut out from the vessel
clearing houses, they will in any event be in readiness in case for which the port bill of lading had been issued in good faith, such shut out
they should be needed. It is pointed out that, while similar cotton will be shipped by the next following vessel, but on no account later
results could be obtained through currency associations un¬ than 20 days after the sailing of the steamer for which the bill of lading is
issued.
Except in cases of force majeure, st ikes or other unavoidable
der the Aldrich-Vreeland law, only national banks are eligible
and unforeseen events, all cotton shipped on through bills of lading will be
thereunder, whereas all the banks in the State may join in actually put on board the carrying vessel within 21 days frem the date of
its arrival at the port of shipment.
the pending movement.
As soon as the resolution adopted
In all cases where the receipt for the cotton is signed by the authorized
by the special committee has been approved by the council agent instead of the Captain, the signature will be prefaced by the words
of administration, an organization committee will be
“by authority of the owners.”
If called upen by the Liverpool Bill of
ap¬
Lading Conference (1907) Committee, the agent must produce proof of
pointed and a uniform plan of organization will be outlined such
authority.
for the clearing houses.
It is stated that the clearing houses
—A suggestion for the prevention of fraudulent bills of
are designed not
only to enable the banks to borrow on ap¬
lading is outlined in the following letter from one of our South¬
proved collateral up to 75% of the securities deposited, but ern
readers, A. B. Meyer of the firm of Meyer & Goldman,
to maintain a strict
supervision over all the banks in the
Montgomery.
groups, to prevent a violation of sound banking principles.
Montgomery, Ala., Aug. 5 1910.
Editor “Commercial and Financial Chronicle,” New York.
—An application for an order to
compel the New York
Dear Sir: The remarks in your issue of July 16 concerning the disturbed
Stock Exchange to pay over to the trustee of the failed firm situation that has grown
up as the result of losses sustained by foreign banks
of Cameron Currie <fc Co. the
proceeds of the sale of the seat through advances upon fraudulent bills of lading, and the letter of President
Smith of the Louisville & Nashville RR. in your issue of July 30, have at¬
of Cameron Currie for general distribution
among its creditors
tracted my attention. Inasmuch as it seems that a thorough investiga¬
was denied
by Judge Hough of the United States Circuit tion developed no losses sustained on account of the issuance of bills of lad¬
Court on the 8th inst.
The petition was made by Frederick ing In the regular way, and that all of the losses that may have been in¬
curred resulted from advances upon forged bills of lading, I have a very
G. Austin, trustee in
bankruptcy for the Eastern District of simple plan in view w'hich, I believe, if put into operation by all the rail¬
Michigan for the firm, who opposed the claim entered against roads, would prevent a repetition of recent occurrences in this field. It
it by Hayden, Stone & Co.
This claim is at present pending is simply this, that instead of the promiscuous furnishing of blank bills of
ladings to shippers, the railroads use for cotton business a regular litho¬
before the Stock Exchange’s Committee on Admissions and
graphed, consecutively-numbered bill of lading, signed with facsimile litho¬
Judge Hough holds that it takes precedence in this instance. graphed signatui'e of the President or other proper official of the railroad,
and to be countersigned by the agent issuing same, said bills of
The Court argues that “a seat in this Stock
to
Exchange is pro¬ remain alwrays in the hands of the railroad agents and to be filledlading
out and
perty of such a nature that it can never become available signed by them upon delivery of the cotton for shipment. It would be a
to the assignee, legal
representative, receiver or trustee until very difficult matter for a shipper to obtain any of these bills of lading in
blank, for no lithographing concern would furnish these blanks to any one
the claims of other members of this
unincorporated associa¬ except the railroads, no more so than they would print a lithographed check
tion have been passed upon by
the sole tribunal entitled to for John Jones with the name of Jim Brown on it: besides, the agent keeping
a stub record of each shipment, the bank accepting the bill of lading could
easily
pass upon the same according to the laws of the Exchange,
verify same by telephone, as to the number of the bill of lading, consignee,
which are no more than contractual
engagements entered consignor, number of bales, &c. The railroad company should be respon¬
into by every person joining the
organization, and therefore sible for the acts of its agents in issuing such bills of lading, they in turn being
by fidelity bonds covering the honesty of their employees, which pro¬
binding upon all their successors in interest who claim by, protected
tection all railroads carry orought to carry.
Nobond company wouldissuea
through or under a Stock Exchange member.”
bond of indemnity protecting a bank against forged bills of
lading, but under
The failure of Cameron Currie &
Co., whose principal thp plan above suggested the possibility of a bill of lading of this kind being
forged by a shipper w7ould be reduced to a minimum, if not an impossibility,
office was in Detroit, occurred in 1908.
and If issued
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
...
*
—An action has been
begun by Morris Engel, of the private
banking firm of Engel & Eckert of 129 Greenwich Street,
this city, to test the
constitutionality of the new law govern¬
ing the business of private bankers. The complainant seeks
to restrain State
Attorney-General O’Malley, District Attor¬
ney Whitman, Assistant District Attorney Frank Moss,
State Superintendent of Banks Clark Williams and Police
Commissioner William F. Baker from
enforcing the law,
which will go into effect on Sept. 1.
The provisions of the
law were referred to in our issue of
July 23. Bankers to
whom it is applicable are required,
among other things, to
secure a license from the
Comptroller, depositing with him
$10,000 in money ;
securities and furnishing a surety
bond for the faithful holding of moneys
deposited with them.
Mr Engel alleges that the law,
especially in so far as it con¬
or
v
cerns
the
$100,000 indemnity bond which would
serve
to
by the agent of the railroad without the actual cotton behind
it, and the bill of lading being one of the company’s forms, and not a re¬
produced form, the railroad company would and should be held responsi¬
ble.
With this plan properly worked out, a bank could be absolutely
sure
of protection in accepting drafts with such bills of lading attached.
Yours
respectfully,
A. B. MEYER.
—The nomination of Frederick C. von Rosenberg as Com¬
missioner of Insurance & Banking of the State of Texas,
sent to the Senate by Gov. Campbell on the 2d inst., was con¬
firmed by that body on the following day.
Mr. von Rosen¬
berg succeeds William E. Hawkins, who served in the post
about six months.
—James G. Cannon, for the past twenty years VicePresident of the Fourth National Bank of this city, has been
elected to the presidency of the institution, succeeding
J. Edward Simmons, whose death occurred on the 5th inst.
Mr.
Simmons’s death has revealed
the fact that he had
[VOL.LXXXXI
THE CHRONICLE
374
that time.
authority to conduct business under the title of the Brook¬
line Trust Co., but it is stated that the Banking Department
was unable to comply with the request inasmuch as a petition
for the use of that name by other interests had been recorded
at the age
several years ago.
purposed retiring as head of the bank at the annual meeting in
January, when he was to have become Chairman of the
Board, Mr. Cannon being slated to take the presidency at
Mr. Cannon embarked on his banking career
of eighteen, beginning as a messenger with the
Fifth Avenue Bank of this city, and advancing step by step
to the cashiership of that institution.
He relinquished that
office to assume the vice-presidency of the Fourth National in
1890.
Mr. Cannon has always taken an active part in
banking affairs at large, and has been prominently identified
with the workings of the New York Clearing House and the
Chamber of Commerce.
In the latter body he holds the post
of Chairman of the Committee on Finance and Currency.
He has
on
various occasions advocated
an emergency
cur¬
backed by Clearing-House loan certificates,- and a
work by him on “Clearing Houses’' is acknowledged as a
standard publication on the subject.
He assisted in bringing
about the formation of the National Association of Credit
Men, and has been one of the presidents of that organization.
Mr. Cannon holds the position of director in the following
banking institutions: the Fifth Avenue Bank, the Bankers
Trust Co. and the United States Mortgage & Trust Co.
He is also a trustee of the Franklin Savings Bank.
The esteem in which the late Mr. Simmons was held was
evidenced at the funeral services on Sunday last when a
notable gathering of financiers and business men was present
to pay a last tribute to the memory of their colleague.
The
New York Chamber of Commerce was represented by a
committee of one hundred.
The New York Stock Exchange
and the other interests with which he had been associated
were likewise represented in large numbers.
The Fourth
National Bank and the New York Clearing-House Associa¬
tion gave expression to their appreciation of his services, and
to their sense of the loss sustained in his death, in resolutions
adopted this week.
—The European-American Bank, at 187 Greenwich Street,
was closed by the State Banking Department on Saturday
last.
Since the institution began business about three years
ago, in Sept. 1907, it has undergone several changes in
management. The last change occurred in May, when it
was announced that a reorganization was planned by the
new interests, under which the name was to be changed to
the Security Bank of the City of New York, and the capital in¬
creased from $100,000 to $200,000.
In the meantime
C. C. Mann, Vice-President, had been serving as Acting
President.
The Banking Department attributes the closing
of the institution to losses suffered through uncollectible
loans.
In his statement Superintendent Cheney says:
rency,
“The bank
was
organized In 1907 and had a capital of $100,000 and a
published statement, June 30 1910, of
only $20,800. Its deposits amount to but $201,000.
Losses Incurred
through Improvident loans which, when payment was pressed, proved
uncollectible, placed the bank In an unsound and unsafe condition to
transact the business for which It was organized.
“As the efforts of the management to secure additional cash capital or
funds did not prove successful, the Department determined to protect the
public by taking charge of the bank’s affairs and effecting as prompt
a liquidation as possible.”
book surplus at the time of Its last
Silas A. Safford, an examiner
of the Banking Department,
appointed a special deputy superintenednt to assist
in the liquidation.
Acting President Mann, in a statement
which we append, gives it as his opinion that the institution
will be reorganized:
has been
which losses have been Incurred were the result of a
former management, the present management having been in charge for
only about three months. At the time the present management took
charge there were re-discounts of nearly $100,000, and with the existing
conditions of the money market It has been found Impracticable to care for
the re-discounts as they came due.
In my Judgment the bank will reor¬
ganize on a much more solid basis.”
“The loans upon
In the
original organization of the bank Frank Zotti, of
Co., steamship agents of this city, was instru¬
mental.
It opened under the presidency of B. SherwoodDunn, with Mr. Zotti as Vice-President. It was the purpose
to engage largely in a foreign exchange business.
The
present interests are said to have purchased control from the
Sherman Securities Co. of 165 Broadway.
Loans in con¬
nection with real estate ventures in New Jersey are reported
to have contributed in bringing about the bank's difficulties.
—William E. Wheelock, President of the Weber Piano Co.,
Treasurer of the Aeolian company and affiliated with other
like interests, has been elected a trustee of the Nassau Trust
Co. of Brooklyn Borough.
Mr. Wheelock’s father, A. D.
Wheelock, was the first President of the trust company.
—The Brookline National Bank of Brookline, Mass., has
Frank Zotti &
permission from the State Bank Commissioner to
reorganize as a trust company and to change its name to the
Norfolk County Trust Co.
Application has been made for
received
referring last week to the purchase of an interest
of Baltimore
by Middendorf, Williams & Co., we erred in reporting
H. M. Mason as Cashier of the bank.
Mr. Mason formerly
held the cashiership, but is not now connected with the in¬
stitution in any way.
The present officers are Samuel H.
Shriver, President; H. Fessenden Meserve, Vice-President,
and Maxwell Cathcart, Assistant Cashier.
The directors
of the bank under the reorganization are as follows:
—In
in the Commercial & Farmers' National Bank
Hugh L. Bond Jr., General Counsel Baltimore & Ohio RR.; Maxwell
Cathcart, Assistant Cashier; Geo. M. Glllet, Montague & Gillet Co., manu¬
facturers of straw hats; Fred. H. Gottlieb, Vice-President Gottlleb-Bauernschmldt-Strauss Brewing Co.; Henry H. Hubner, Attorney at Law; H.
Fessenden Meserve, Middendorf, Williams & Co.; Daniel B. Miller, VicePresident Daniel Miller Co., dry goods; Geo. M. Shriver, Assistant to Presi¬
dent Baltimore & Ohio RR.; Samuel H. Shriver, President; T. T. Tongue,
General Agent Maryland Casualty Co.; Jos. W. Valiant, The J. G. Valiant
Co., and N. Winslow Williams, Secretary of State Maryland.
—The directors of the Inter-State Trust Co. of
land, Md., decided
on
Cumber¬
the 5th inst. to liquidate the business
The decision, it is said, grows out of the
sudden and serious illness of D. H. Reynolds, President and
of the institution.
institution, and the unwillingness of any of
assume the presidency, owing to other re¬
sponsibilities. The company’s capital is reported as $100,000
(in $50 shares) and its surplus as $18,000. It is announced
founder of the
the directors to
depositors will be paid in full, while the stock¬
par in addition to their proportion of
the surplus.
A new building is in course of erection for the
institution, on which it is expected work will now be dis¬
continued.
The liquidation of the company will be con¬
ducted through the Second National Bank of Cumberland.
—The business of the banking house of Robinson Brothers
of Pittsburgh is to be liquidated, the members forming the
partnership, which expired Aug. 1, having decided to retire.
The reasons for the decision to wind up the affairs of the firm
are said by the Pittsburgh “Dispatch" to be mainly personal,
deaths and serious illnesses in the families being the im¬
portant considerations in the matter. The house has been
one of the foremost private banking establishments in Pitts¬
burgh and it held membership in both the New York and
Pittsburgh Stock Exchanges. It dates from 1863. The
partnership which is now being dissolved consisted of Alex¬
ander C. Robinson, Robert D. Book, Frank A. McCune and
It appears that, notwithstanding the
A. Blaine Robinson.
valuable asset possessed in its banking business, the firm has
preferred quietly to close up its affairs rather than to effect
that all the
holders will receive
a
sale of the business to
a
bank
or
trust company.
—Simon Kuhn, a brother of the late Louis Kuhn, who
was Vice-President of the Fifth-Third National
Bank of
Cincinnati, has been elected a director of the institution and
Louis Kuhn had been
member of its executive committee'
a partner in the banking house of S. Kuhn & Sons, which
was taken over by the Fifth-Third National early the present
a
year, and he was made a Vice-President of the latter at
time of the absorption.
His death occurred last month.
the
—Tlje proposed Ohio Valley Bank & Trust Co. of Cincin¬
identity in the Metropolitan Bank & Trust
Co. of that city.
The Ohio Valley Bank & Trust was to
nati will sink its
opened for business in the fall; it was incorporated in
spring and was to have been established with a capital of
$250,000; its stock was offered at $120 per share. The
subscribed capital is reported as $100,000, and the Metro¬
politan will issue that amount of new stock to the stock¬
holders of the proposed institution.
Cashier R. E. Morri¬
son, of the Metropolitan, is quoted in the Cincinnati “TimesStar" as stating that the arrangement “simply means that
we
take over the stock already subscribed to the Ohio
Valley, and the business promised to the bank, and issue
$100,000 stock of our bank in payment." The organization
committee of the Ohio Valley ratified the proceedings on the
4th inst., and the details are expected to be completed by
Sept. 1. George W. Platt, the organizer of the projected
bank, is a director of the Metropolitan, and it is stated that
several of the other interests in the Ohio Valley will be given
a place on the Metropolitan's board.
With its new issue
of stock, the latter’s paid-in capital will be increased from
$100,000 to $200,000.
—The business of the Prairie National Bank of Chicago
has been definitely merged into that of the Western Trust
& Savings Bank.
The transfer was effected on the 6th inst.,
have
the
THE CHRONICLE
Au«. 13 1910.1
following the approval of the plan by the directors of both
institutions on the 4th inst.
Their stockholders will ratify
the merger on September 8, but this will be merely a formal
proceeding. Ninety per cent of the stockholders of the
Prairie National is said to have assented to the plan at the
directors’ meeting.
The Prairie National, which has a
capital of $250,000, will be placed in liquidation. Its
stockholders will receive an equal amount of stock in the
Western Trust, the latter (as stated by us last week) in¬
creasing its capital for the purpose from $1,000,000 to $1,250,000. The organization of the Prairie National Bank
was brought about in 1904 by interests in the Prairie State
Bank.
George Woodland, President of the Prairie State
Bank, was also President of the Prairie National. He, and
Harry J. Evans, a director of the Prairie National, will be
elected to the board of the Western Trust.
Harry R. Moore,
Vice-President of the Prairie National, has become Cashier
of the Western Trust, succeeding William C. Cook, who
has been elected to a Vice-Presidency.
Albert E. Coen, for
several years Auditor of the Western Trust & Savings Bank
has been made
an
Assistant Cashier.
The Prairie National
had
deposits on June 30 of $1,905,107; those of the Western
Trust & Savings on July 1 amounted to $8,745,596. Joseph
E. Otis is President of the latter.
In the Prairie State Bank, F. B. Woodland, who was its
Cashier, has been made Vice-President. William B.
Conklin, former Cashier of the Prairie National, becomes
Cashier of the Prairie State.
—George E. Roberts, formerly President of the Com¬
of Chicago, lately consolidated with
the Continental National Bank, has resigned as President of
the Chicago Clearing House Association.
—Prince Nicholas Engalitcheff has been appointed Direc¬
tor of the foreign department in the La Salle Street National
Bank of Chicago.
Mr. Engalitcheff speaks all the important
European languages and was formerly Manager of a promi¬
nent La Salle Street stock brokerage house.
mercial National Bank
—The
consolidation
of
the
Third
National
Bank
of
Louisville, Ky., with the Southern National Bank, which
went into effect on July 7, was formally ratified by the
stockholders of the Southern on the 5th inst.
The proposed
increase in the capital of the Southern was also approved
at the meeting.
As stated in our issue of July 9, the Southern
will double its capital, raising it from $250,000 to $500,000,
$200,000 of the new’ issue being allotted to the stockholders
of the Third National; the other $50,000 of stock will be
disposed of at $150 per share. The Third National had a
capital of $300,000. Three directors of the latter, namely
A. S. Rice, A. V. Thompson and John R. Downing, have
been elected to the board of the Southern.
—John Skelton Williams and William T. Reed were
elected Vice-Presidents of the National Bank of Virginia
at Richmond on the 3rd inst.
Mr. Williams, who is a
member of the well-known
banking firm of John L. Williams
& Sons, wras President of the Bank of Richmond, which
consolidated with the National Bank of Virginia on July 1.
W. M. Habliston continues in the presidency of the latter
and W. M. Addison and O. S. Morton continue respectively
as
Cashier and Assistant Cashier.
The
following have also
been elected Assistant Cashiers: H. A. Williams, John Tyler,
W. H. Slaughter and James M. Ball Jr.
The enlarged bank
has
a
capital of $1,200,000 and surplus of $600,000.
—Charles E. Novel has been chosen Cashier of the
People’s
Savings Trust & Banking Co. of New Orleans, to succeed
L. O. Landry, retired.
Mr. Novel had been Assistant Cashier
of the Inter-State Bank & Trust Co. of New Orleans.
—The death is reported of Benjamin I. Cohen, the wellPresident of the Portland Trust Co. of
known
Portland,
dispatches state that his death occurred on
Wednesday in Victoria, B. C., while on a vacation.
—R. B. Angus was lately elected President of the Bank
of Montreal (head office, Montreal) to fill the vacancy
arising through the death of the late Sir George Drummond.
Mr. Angus has long been identified with the bank. Entering
its services in 1857, he wras made accountant in the Chicago
branch in 1861; in 1863 he became second agent in New
York, in 1864 was chosen Assistant Manager in Montreal,
and successively became Manager and General Manager.
He officiated in the latter capacity from 1869 to 1879.
Subsequently, following the acquisition of an interest in the
St. Paul Minneapolis & Manitoba Ry., by interests allied
with the bank, he was induced to take the management
of that road.
Mr. Angus has served as a director of the
Ore.
The
bank since 1879.
375
At the meeting at which the
presidency
filled, H. Vincent Meredith, Manager of the Montreal
branch, and Assistant General Manager, was chosen as
was
Mr. Drummond’s
successor on
the directorate.
{From our own correspondent.]
London, August 6 1910.
Earl Carrington, as President of the Board of Agriculture,
has issued a brief resume of the proposal to establish agri¬
cultural banks under a State guaranty for the assistance of
farmers, market gardeners and agricultural laborers being
small allotment holders.
The
is so short that it is
to any purpose. It is
resume
possible to criticise the scheme
generally assumed, however, from the context, that it will
follow very much on the lines of the recommendation of the
Cromer Commission.
These agricultural banks have been
very successful in various countries upon the Continent, and
there seems no reason why they should not be equally useful
not
in this
country.
With the announcement of the London & North Western
Ry. dividend at the rate of 53^% for the first half of 1910,
Ry. at the rate of 4% for the
same period, the results of the working of the English rail¬
ways in the past half-year are known.
The North Western
result is z/i% better than twelve months ago and the Great
Western Hj%.
Speaking generally, the dividend announce¬
ments have been exceedingly satisfactory, and well up to
market expectations, but, owing to the depressed state of
the stock markets, in consequence of the general fall in prices
recently, these good results have had hardly any effect upon
quotations. Except as indicating the general trend of Eng¬
lish railway working, American readers will be more inter¬
ested in the development of the Speyer group of companies,
working the underground system in London, of which a large
part of the stock is understood to be held in the United States.
These companies seem gradually emerging out of the woods,
and the District, in particular, which proved such a disap¬
pointment for so many years, appears at last to have turned
the corner, and
hopes are entertained that it may ere long be
in a position to yield some reasonable rate of interest upon
the large capital expended upon the line.
During the past
half-year the whole of the dividend on the 4% guaranteed
stock has been paid and
*n certificates has been allotted
to the 4% stockholders in part payment of the accrued ar¬
rears.
In addition, the company has paid a dividend at the
rate of 3% on the first preference.
It is ten years since the
company was able to accomplish so good a result.
The Tube
railways controlled by the group—that is to say, the Char¬
ing Cross & Hampstead, the Baker Street & Waterloo and
the Piccadilly & Brompton—are to be merged in one com¬
All of these have been able to pay some small divi¬
pany.
dend to their public shareholders, and the Baker Street line
has also paid a dividend to the Underground Electric Co. of
London, which represents the group previously mentioned.
Notwithstanding the fact that the South African gold in
London last week was all taken on United States account,
and that coming to London on Monday will presumably be
secured for the same destination, money continues very
cheap and plentiful. In the short-loan market rates range
anywhere from 1% up to 1LC% or 1 5-16%. Discounts are
2% to 2%% and in some cases up to 3%. This is the of¬
ficial minimum of the Bank of England.
The weekly return
shows a considerable reduction in the reserve, but this is
due wholly to seasonal demands in connection with the holi¬
days. The reserve, however, at 28^ millions, although
more than two millions less than a week ago, is one and a half
millions in excess of the figure for last year. It has to be
borne in mind, moreover, that the public deposits, which
exceed 15 million sterling, are more than double the figure
at which they stood twelve months ago, and aS these have
to be paid by the Government into the market, they will
tend to prevent any rapid advance in rates.
After the slump of last week, and still more the week be¬
fore, the stock markets have settled down into a state of
dulness, not to say depression. This market is still endeav¬
oring to absorb as best it may the immense quantities of
securities which were thrown upon it from the various points
of the compass.
The recovery in Wall Street is watched here
with the keenest interest.
The Paris Bourse went through
its settlement this week without disclosing any of the alarm¬
ing features that were feared. Berlin, Vienna and Amster¬
dam seem to have recovered from the recent slump, and so far
as the London market is
concerned, if it is not subjected to
further shocks from elsewhere, it is itself in an intrinsically
sound position.
The India Council continues quite successful in its dis¬
posal of its weekly drafts. The Council again offered 40
lacs on Wednesday last and 300 lacs were applied for.
Ap¬
plicants got 8% of the allotment in bills and 8% in transfers
and that of the Great Western
at
a
minimum rate of Is. 3 31-32d. and Is. 4d. per rupee re¬
spectively, the balance going at a fractionally higher figure.
The total sales have realized just under £7,000,000, against
£8,750,000 at this time last year. In spite of some check
in the recent speculation in silver on Eastern account, the
market remains very firm, the price in London being quoted
round about 243/£d. per ounce.
THE CHRONICLE
376
Messrs.
August 4:
Pixley & Abell writers follows under date of
Pe
GOLD.—The arrivals are still being readily taken for the United States of America,
and out o’ £1,006,000 In the market this week over £700,000 will go to America,
the balance being divided between tie Continent and the usual Indian orders,
Since our last the Bank has received £6,000 In sovereigns from France, while £340,000 has been withdrawn for Chill.
Next week we expect £520,000 from South Africa.
Arrivals—South Africa, £796,000; India, £110,000; Australia, £03,000; West Africa,
£15,000; Brazil, £22,000; total, £1,006,000. Shipments—Bombay, £75,750.
SILVER.—The tendency In the silver market has again been downward and prices
on the week show a fall of %6. for cash and %d. for forward, at 24%d. for both po¬
sitions.
The disappearance of the premium on spot Is to be attributed partly to the
action of the Indian group of speculators, who seem anxious to carry forward a part
of their cash holdings and partly to the fact that a great deal of the buying has been
for China, which Is ready to take advantage of the falling market to cover Its “short”
position here.
The gradual disappearance of this “short” account is removing one
of the supports to the market which would be valuable in the event of any forced
liquidation. The demand In India shows some expansion; news of better rains put
prices up to Rs. 62%, and the off-take Is given as 80 bars; but China is still willing
to supply the bulk of their requirements, and further shipments are now on their
way to India.
The stock In Bombay Is now over £2,000,000, and £265,000 is on the
way from London, but it is not expected that there will be any further shipment
by this mall. In London the stocks are over £1,700,000. These have been swollen
by the unusually large arrivals from the United States, upwards of £530,000 having
reached this country from America in the last two weeks.
As the bulk of this is new
silver, the burden thrown on the Indian speculators of supporting the market is a
heavy
The price in Bombay is Rs. 62 ner 100 tolahs. Arrivals—New York,
£200,000; Australia, £5,000; Mexico, £10,000; total, £215,000. Shipments—Bom¬
bay, £265,000; Port Said, £1.000; total, £266,000.
one.
English Financial Markets—Per Gable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the
past week:
»
London.
Week ending Aug. 12.
Silver, peroz
Consols, new, 2 >3
Mon.
Sat.
_d. 24 7-16
81 3-16
per cents
81 5-16
24%
81%
....
.
For account
French Rentes (in Paris)
_
.
81 3-16
.
97.27%i 97.30
64 %
Amalgamated Copper Co..
65%
b Anaconda Mining Co
8
8
Atchison Topeka & Santa Fe 99 %
100^
Preferred
102
-101H
_..
..
-
..
.
.
.
.110
90
.191
73
110
90
191 %
.
Chesapeake & Ohio
Chicago Milw. & St. Paul.. -125J*
23
Chicago Great Western
-
......
.
...
.
.
-
.
..
101
102
.
-
.
.
.
66
70%
45
47
45
47
•
Rock Island
30%
Southern Pacific
-114%
Southern Railway
22%
Preferred.
52
Union Pacific
-167%
Preferred.
93%
U. S. Steel Corporation
69%
Preferred..
.118
Wabash
17
Preferred
34%
Extended 4s...
63
a Price per share,
b £ sterling,
47%
30%
31%
115%
.
52%
168%
96%
70%
118%
17%
.
....
-
-
.
-
.
48%
31 %
118
116
23
23
-
120
67
73
45
23%
55%
53%
169
171%
96
96%
70%
118%
17%
35
35
63%
63%
72%
119%
«
18
37
64
'
8%
%
110%
91
196
75%
127%
24%
31
73%
26
42%
99%
91%
45
81%
97.47% I
33
135
143
69%
118%
66% ‘
71%
81 1-16
26%
42%
29
117
99
91 %
91%
118%
66%
71%
24%
33
134 %
144
34
64
41
99
-
.
73
115
115%
40%
.
72
69%
28%
29
.
30%
24%
31%
32
64
69%
-
.
102
133
142
64
.
..
102
102 %
112
91
196
76
127 %
8%
100%
24%
40%
31%
31%
.
Pennsylvania
Reading Company.
a First preferred
a Second preferred
68
24
133
142
..
a
68%
8%
126%
40%
31%
-
.
a
66%
90
194
74
23
30
72
25
Denver & Rio Grande
30
Preferred.
73
Erie
24%
First preferred40
31 K
Second preferred
Illinois Central
.132
Louisville & Nashville
.141%
Missouri Kansas & Texas..
32
Preferred.
64
Nat. RR.of Mex., lstpref
69%
Second preferred.
29
N. Y. Central & Hud. River. 11 4%
N. Y. Ontario & Western..
41
Norfolk & Western
99H
Preferred
91
Northern Pacific
.118
.
Thurs.
no%
73%
120%
.
.
Wed.
24 7-16
81 1-16
81 %
97.40
.
...
Baltimore & Ohio
Preferred
Canadian Pacific
Tues.
24 7-16
81 1-16
81
97.35
43%
Fri.
24 9-16
8015-16
81
97.42 %
Com.
Oats.
Milwaukee..
Duluth
156,638
60,200
3,000
Minneapolis.
Toledo
Detroit
Cleveland
St. Louis...
Peoria
Kansas City.
..
3,700
1,374
53,180
41,900
3,563,600
433,920
410,544
1,233,100
452,000
56,387
19,985
1,218,735
108,768
3,036,000
Total wk. ’10
Same wk. ’09
Same wk. ’08
319,992
377,608
412,622
10,533,039
Since Aug. 1
1910
1909
1908
319,992
377,608
10,533,039
412,622
6,768.849
6,788,950
6,768,849
6,788,950
2,351,000
111,870
13,194
115,110
70,900
‘
New York
Boston
Philadelphia
Baltimore
Richmond
New Orleans *
24%
31
73
26%
44%
Newport News.
Galveston
Mobile
Montreal...
33
64
69
29
64%
116%
41%
Mobile
Montreal
Total week
Week 1909
478,923
1,054,775
•
_
40
250
89,666
453,531 119,780
108,671 119,321
97,804
22,414
_
The destination of these exports
as below:
Flour
Total
Total 1909
29,000
12,781
29,000
1,617
25 000
3.807
for the week and since
——■Wheal
Since
—Corn
Since
Since
Week
July 1
1910.
Aug. 6.
bbls.
bush.
1910.
bush.
219,484
78,308
86,877
106,356
1,576
15,189
366,353
100,000
12,570
119,780
507.790
...119,321
499.073
478,923
,054,775
J'lily I
Week
July 1
bush.
1910.
bush.
2,298,799
476,329
152,714
359,428
62.000
36,568
221.000
17,817
164,841
796,825
125.471
5,000
1.951
2.816.696
453,531
108,671
1.448.516
553.239
Aug. 6
4,265,246
The world's shipments of wheat and corn for the week
ending Aug. 6 1910 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
Exports.
1910.
*
1909.
1910
1909.
Week
Since
Since
Since
July 1.
July 1.
Week
Aug. 6.
Since
Aug. 6.
July 1.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
.
_
Corn.
9,269,000
.
7,271.000
18,880,000
5,760,000
4,792,000
8,648,000
2,720,000
448,000
8,675,000
404,000
10,984,000
289,000
8,912,000 4,446,000
2,240,000
442,000
13,760,000
1,200,000
976,000
48,519,000
46,747,000 5,581,000
2,104,000
1,553.000
14,911,000
6,989,000
25,557.000
99^2
91%
118%
67%
72%
92
45
48^
31%
116%
23%
55%
169%
95%
71%
118%
17%
35%
64
Wheat.
564,000
3,849.000
20,074,000
5,259,000
29,746,000
Europe
on
dates
Barley.
Corn.
United
119}-£
663-3
73
45
48%
■
31
118%
23%
54%
Aug. 6
July 30
Aug. 7
Aug. 8
Aug. 10
1910..
1910..
1909.
1908..
1907..
.United
Kingdom.
Continent.
Total.
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
Bushels
Bushels.
Bushels.
21,600,000 8,640,000
22,320,000 7,920.000
18,720,000 12,880 000
14,720,000 8,320.000
18,760,000 8,840,000
.
30,240,000
30,240,000
13,600,000
23,040,000
27,600,000
7,820,000 11,475,000 19,295,000
7,395,000 10,625,000 18,020,000
8,075.000 10,965,000 19.040,000
7,055.000 5,950,000 13,005,000
7,760,000 9,680,000 17.440,000
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
172%
96
72 3-8
Currency, Treasury Department:
119%
17%
APPLICATION
36
64 >3
Rye.
21,000
5,100
588
25,160
2,000
TO
CONVERT INTO
APPROVED.
"MOO
8",800
14,400
4,400
5,310,340
2,920,487
3,892,461
534,115
317,842
347,840
67,048
65,000
86,579
5,310,340
2,920,487
3,892,461
534,115
67,048
65,000
86,579
NATIONAL
BANKS
“The La Rue Savings Bank, Hodgenvllle,” Ky.t into “The La Rue
National Bank of Hodgenvllle.”
Capital, $25,000.
The Bank of Sonora County into “The Sonoma County National Bank
of Petaluma,” Cal.
Capital, $400,000.
The State Bank of Hamilton Into “The First National Bank of Hamilton,”
Ill.
Capital, $50,000.
The Citizens State Bank Into “The First National Bank of Bokchlto,’
Okla.
Capital, $25,000.
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
20 Amer. Nickel Co., S10 ea.$5 lot
18 West Side Bank
601
119,995 Cornucopia
Oregon,
$15,000 Cornucopia
50 Fourteenth
Mines Co. ofl
$10 each
)$300
Mines Co. 6s. j lot
Street Bank.. 150
Bonds.
$30,000 Great Lakes Coal Co. 1st 5s,
"
1944
40
Bonds.
$18,000 Iron & Steel Products Co.
guar. 6% note
^.$150
$100,000 Iron & Steel Products Co.
1st 5s, 1929
$760
$16,000 Southern Elec .Securities Co.
coll. tr. 5s (certfs. of deposit)... 29%
$55,000 Iron & Steel Products Co.
guar. 6% note, due 1920.... .$50 lot
$250,000 Iron & Steel Products Co.
1st coll. tr. 5s
.$200 lot
Canadian Bank Clearings.—The clearings for the week end¬
ing Aug. 6 at Canadian cities, in comparison with the same
week of 1909, show an increase in the aggregate of 29.4%.
Week ending Aug. 6. ‘
37.842
347,840
Wheal,
Com,
bbls.
Oats,
bush.
bush.
Barley,
bush.
Rye,
bush.
120,704
21,727
34,448
32,295
3,028
18,917
143,800
203,725
5,008
17,000
58,953
83,742
171,800
30,000
5,000
4,236
18,000
bush.
437,775
64,736
91,154
32,279
32,732
79,500
6,375
8,050
2,666
604
7,348
1,000
Clearings at—
1910.
Canada—
Montreal
Toronto..
2,172
.
.
Vancouver
Ottawa
—
.
Quebec
—
-
-
--
Halifax
St. John
Hamilton
--
.
..
.
Calgary
—
5,823
.
Winnipeg
London
Victoria
Edmonton
Total week 1910.. 259,787
1,288,531
597,464
743,999
11,151
16 398
Since Jan. 1 1910.10,135,066 39,368,088 25,762,462 27,176,429 2037,184
443 078
Week 1909
280,365
1,772,292
406,335
612,249
12 566
Since Jan. 1 1909. 8,511,974 39,389,983 28,649,377 25,968,997 4189,859
496,769
*
Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.
..
Regina
Brandon
Total Canada
..
-
1909.
Inc. or
Dec.
1908.
$
$
$
%
43,572,639 32,903,036 + 32.4 26,465,714
27,687,943 24,689,964 + 12.1
19.774,691
18,452,114 11,217,865 + 64.5
9,718,753
8,135,641
5,016,427
+ 62.2
3,551,026
2,892,042
2,700,330
+ 7.1
2,546,561
2,356,198
2,722,973 —13.4
2,158,000
2,330,833
2,211,136
+ 5.4
1,865,339
1,520,181
1,508,178
+0.8
1,620,136
1,600,216
—2.9
1,647,194
1,265,690
3,516,526
1,931.947 + 81.5
1,198,708
+ 12.5
1,304,545
1,161,981
1,153,964
1,742,408
1,170,403 +48.9
911,504
1,400,050
1,172,227 + 19.4
791,997
Not
d
in tot al.
987,038
include
452.217 Not include d In tot al.
116,511,336
90,053,661
+ 29.4
73.022,083
1907.
$
29,773,076
20,116,053
11,200,410
3,984,030
3,235,940
2,225,502
2,006.894
1,721,230
1,610,852
1,468,766
1,370,112
1.221,570
1,026,011
80,960,416
.
The exports from the several seaboard ports for the week
ending Aug. 6 1910 are shown in the annexed statement:
_
'
_
July 1 1910 is
Exports for week and Aug. 6.
since July 1 to—
bbls.
United Kingdom... 52,814
Continent
17,300
Sou. & Cent. Amer. 26,719
West Indies
21,305
Brit. Nor. Am. Cols.
1,071
Other Countries
571
______
....
_
5,000
1,799
18,000
Wcck
...
897
4,236
92,000
292,000
117
42
100
3,525,628
2,869,701
2,123,927
320,244
Galveston.
bush.
69
Flour,
1,799
25,972
87,274
230,000
30,000
29%
3,525,628
2,869,701
2,123,927
63,000
Baltimore
New Orleans’.
Newport News
Peas,
1,617
The quantity of wheat and corn afloat for
mentioned was as follows:
3^2
33%
38,277
348.400
215,762
260.400
897
80,000
92,000
Total
135
144
208,500
53,300
178,185
78,330
284,993
423,998
52,496
Philadelphia
..
Total receipts of flour and grain at the seaboard
ports for
the week ended Aug. 6 1910 follow:
Receipts at—
bush.
Flour,
Com,
33%
2,936,400
192,100
8,581
329,700
174,750
55,434
90,325
788,800
544,250
190,000
715
bush.
.
bbls.l96lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48lbs. bu.56 lbs.
Chicago
bush.
8,514
..
c 125
c Ex dividend.
Wheat.
Barley,
bbls.
51,680
17,290
4,000
14,114
7,000
1,277,000
3,064,000
Argentine
1,336,000
Danubian
1,168,000
Indian
1,752,000
Australian..
560,000
Oth. countr’s
112,000
Breadstuffs Figures brought from Page 413.—The state¬
ments below are prepared by us from figures collected
by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last
Saturday and
since August 1 for each of the last three years have been:
Flour.
Rye,
bush.
10,021
North Amer
Russian
©nraraevcial and 21S.isccnaucmts|Xeujs
Receipts at—
Oats,
bush.
14,923
Wheat,
Exports from—
102
103
91
197 %
75
lxxxxi
New York
Boston
67%
8%
111%
[Yol.
DIVIDENDS.
The
following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Aug. 13
1910.]
THE CHRONICLE
Per
Cent.
Name of Company.
When
Books Closed.
Payable.
Statement of New York City
Clearing-House Banks.—The
detailed statement below shows the condition of
the New
York Clearing-House banks for the week
Days Inclusive.
Railroads (Steam).
3
2
3
2
Aug.
Sept.
Sept.
Sept.
Sept.
IX
Oct.
3
Sept.
Aug.
Aug.
IX
Baltimore & Ohio, common
Preferred
Boston & Maine, common (quar.).
Preferred
-
2
i
Preferred .J
Canadian Pacific, common
3
-
Common
{extra)_
Preferred
-
.
3X
X
-
2
—
Chestnut Hill RR. {quar.)—
Chic. Milw. & St. P., com. and pref..
Chic. St. Paul, M. & O., com. & pref...
Cleve. Cln. Chic. & St. L.. common..
IX
3X
3X
2
IX
Special guaranteed (quar.).
1
1
2
Delaware & Bound Brook, guar.
Illinois Central (No. Ill)
3X
3X
>
T.paqpH llnpfl
2
Louis,"1st
N. Y. Chicago & SU
& 2d
N. Y. Ontario & Western, common.
2X
■
2
1H
Preferred (quar.)
North Pennsylvania (quar.).
1
2
Pennsylvania
IX
Reading Company, first preferred.
3
2
lX
2X
IX
Seaboard Company, first preferred
Southern Pacific Co. {quar.) {No. 16)..
Union Pacific, common {quar.)
Preferred
Utica & Black River.
Vandalia (quar.)
Street and Electric Railways.
Boston Elevated
Columbus (O.) Railway, com. {quar.)...
3
Aug.
Sept.
Aug.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
1
3)
IX
3
)
IX
IX
IX
X
)
ix
.
Preferred {No. 10)
Pacific Gas & Electric, preferred {quar.)..
Philadelphia Company, preferred..
Portland Ry., L. & P., com. (qu.) (I
)
3
IX
2X
1
X
2X
Whatcom Co. Ry. & Lt., pref. (No. 14)_.
Miscellaneous.
Adams Express {quar.)
3
$3
X
—
Amalgamated Copper Co. (quar.)...
American Caramel, common (quar.).
American Chicle, common {monthly)..
lb
1
3
_
A merican Coal
Preferred (quar.).
American Shipbuilding, common (quar.)
Con>mon (extra)
IX
IX
ix
2X
7X
)
.
-
-
.
-
-
(extra).
General Asphalt, pref. {quar.) {No. 13
General Chemical, com. (quar.)
General Electric {quar.).
Homestake Mining {monthly) {No. 42'
.
-
.
Internat. Harvester, pref. (quar.)(No
International Nickel, com. (quar.).
Common (extra)
)
.
Jefferson & Clearfield Coal & Iron, pref..
-
)
Lehigh Coal & Navigation (No. 127)
MacArthur Bros., preferred
Michigan State leiep., com. (quar.)
Preferred (quar.)
Mobile Electric Co., pref. (quar.)
-
-
National Lead, common (quar.).
Preferred (quar.)
Preferred (quar.)
common
Preferred (No. 1)
!
(No. 1)
.
.
North American Company
(quar.)...
People’s Gas Light & Coke (quar.).
Philadelphia Electric Co. {quar.)
Pittsburgh Brewing, common {quar.)..
Preferred {quar.)
Pratt & Whitney Co., pref.
(quar.)...
Procter &
Gamble,
common
(quar.).
Pure Oil, common {quar.)
Quaker Oats, common {quar.)
Common {extra)
Preferred (quar.)
-
Preferred {quar.)
Sears, Roebuck & Co., com. (quar.)
Silversmiths Company (quar.)
Sloss-Sheffield Steel <fc Iron, com. {quar )
Preferred (quar.) (No. 37)
(No.
-
.
>
)
to
Aug. 12
rec.
to
to
1 Aug. 23
to
1 Holders of rec.
to
to
to
1
1
1 Holders
3 Holders
Nov.
ix
3X
ix
IX
__
27)"
-
.
Aug.
Aug.
Sept.
Aug.
Aug.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
15
15
31
30
15
15
1
15
15
1
1
29
30
15
15
Holders
Holders
Holders
Holders
Holders
Holders
Holders
Aug.
Aug.
figures for the separate banks
daily results.
to
to
to
Aug. 31
Aug. 31
Aug. 15
of rec. Aug. 16a
of rec Sept, la
of rec. Aug. 15
of rec. Aug. 15
of rec. Aug.
6
to
Aug. 15
to
Sept. 1
of rec. Aug. 15a
of rec. July 30a
of
of
of
of
of
of
of
1
2
Oct.
Oct.
rec.
rec.
rec.
rec.
rec.
rec.
to
to
Holders of
rec.
to
to
to
Aug. la
1
July 30a
Aug. 10
Aug. 19a
Aug. 15
Aug. 15
Aug.26a
Sept. 4
Nov.
rec.
Aug. 14
Sept. 2
Aug. 2
3
3
Sept. 15
Aug. 15
Holders of rec July 30
to
Aug. 6
Aug. 15
payable In quarterly installments.
4% extra), payable In quarterly
quarterly Installments. 0 Declared
.
In the
ending Aug. 6.
the averages
are
of the
of the totals, the actual
figures
at the end of the week are also
given.
For definitions and rules under which the various
items are
made up, see “Chronicle,” V.
85, p. 836.
case
We omit two ciphers
Banks.
00s omitted.
Capital.
Surplus.
$
Bank of N. Y._
Manhattan Co.
Merchants’
Mech. & Metals
America
Phenix
City
.
31,250,0
25,000,0
30,741,6
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
159,454,2
6,366,1
564,5
2,497,7
153,3
822,4
4,194,6
15,893,1
2,656,3
916,0
1,037,9
460,2
11,707,4
1,644,2
521,8
1,681,8
1,428,8
5,352,0
7,432,1
12,300,0
102,6
5,650,7
2,038.3
19,855,6
1,646,8
819,0
1,604,7
700,7
7,472,5
2,070,5
881,6
1,010,0
1,526,6
1,177,0
489,7
2,089,8
1,023,4
1,913,4
2,717,7
738,8
808,5
332,5
373,2
3,000,0
500,0
450,0
200,0
—
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,C00,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
__
Com Exchange.
Imp. & Traders’
Park
East River
Fourth
Second
First
.
Irving Exch...
Bowery
N. Y. County..
German-Amer
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
.
.
Metropolis
.
.
....
West Side
Seaboard
Liberty
N.Y. Prod. Ex.
State
14th Street
Coal & Iron
20,529,0
52,445,8
24,047,4
7,394$
cases.
Specie.
Average.
Legals.
Average.
$
$
$
19,760,0
4,105,7
1,762,0
7,883,8
5,787,1
703,8
25,000,0
Hanover
Citizens’ Cent..
Nassau
Market & Fult’n
Metropolitan
$
3,473,6
.
Gallatin
Butch. & Drov.
Greenwich
American Exch.
Commerce
Mercantile
Pacific
Chatham.
People's
Loans.
2,000,0
2,050,0
2.000,0
6,000,0
1,500,0
1,000,0
Chemical.
Merchants’ Ex.
_
(00) in all
Average.
4,162,0
11,576,0
v 3,854,0
12,494,6
4,919,3
2,412,0
'
28,095,0
6,752,1
8,702,3
2,566,2
7,217,2
33,546,0
145,459,8
14,269,2
3,776,6
7,266,6
1,853,5
63,098,3
21,275,5
7,164,3
8,531,2
11,863,1
41,815,0
24,742,0
80,169,0
1,491,8
24,932,0
12,707,0
97,127,9
20,068,5
3,592,0
7,876,9
4,067,9
70,546,7
12,489,8
3,912,7
4,854,4
13,335^6
7,955,8
3,359,9
11,279,2
4,340,0
18,132,0
18,970,9
8,014,6
14,918,0
5,411,5
5,764,0
924,0
1,722,0
1,519,0
1,010,0
1,936,3
523,0
55,744,4 6,493,0
4,927,6 1,986,1
1,435,8
225,3
1,293,6
461,0
470,2
79,8
1,821,8
197,4
5,575,5 1,682,5
29,106,4 9,549,4
1,516,2 1,030,6
337,8
462,2
949,4 1,009,3
464,6
134,5
15,629,0 7,489,8
5,500,3
327,5
518,1 1,408,9
1,785,2 1,013,7
2,801,5
252,6
8,278,0 5,493,0
3,538,0 2,191,0
19,749,0 1,312,0
261,7
111,2
4,297,0 2,200,0
2,945,0
145,0
22,081,9 2,967,4
6,423,9 1,118,2
841,0
57,0
1,206,7
603,4
784,5
217,3
16,938,4 4,922,2
2,725,7 1,062,3
415,6
430,7
507 2
827,3
3,053,8
899,3
1,901,4
212,8
694,9
270,1
714,5 2,044,3
973,0
222,0
4,258,0 1,586,0
4,259,3
545,6
2,104,0
308,1
3,841,0
274,0
1,085,0
516,9
711,0
870,0
Deposits.
Average.
Rcs’ve.
$
%
18,126,0
39,650,0
21,153,0
51,089,2
24,585,8
28.0
33.5
25.4
26.4
27.8
7,706,0 38.8
167,493,9 37.2
25,958,0 26.7
6,796,4 24.4
6,895,0 25.4
2,347,4 23.4
8,096,5 25.0
29,077,8 25.0
129,978,1 29.8
10,179,1 25.1
3,308,9 24.1
7,719,9 25.3
2,248,6 26.6
75,255,9 30.7
20,944,2 28.0
7,984,7 24.1
8,959,4 31.2
12,199,6 25.0
50,154,0 27.4
22,102,0 25.9
83,267,0 25.4
1,634,9 22.8
23,275,0 27.9
12,230,0 25.2
87,346,4 28.6
23,161,1 32.5
3,767,0 23.8
7,793,9 23.6
3,948,9 25.3
78,985,7 27.6
14,171,1 26 6
3,876,3 21.8
5,502,7 24 2
14,272,8 27.6
7,965,3 26.5
3,663,6 26.3
11,047,0 25.0
4,796,0 25.0
21,078,0 27.7
19,495,2 24.6
9,439,4 25.5
17,837,0 23.0
6,292,9 25.4
5,897,0 26.8
Totals, Average 132,350,0 189,131,4 1208,192,4 284,204,9 72,524,9
1230,753,6 29.0
Actual figures
1
1 Aug. 23
15 July 31
Oct.
Aug.
1
Vlrglnla-Carollna Chem., com, (quar.)..;
1 Xf
a Transfer books not
closed.
b Declared 4%,
d Correction,
l.
e Declared
D(
8% (4% regular and
nstallments of 2%.
/Declared 5%, payable In
7% payable In quarterly installments.
1
Sept.
Sept.
Sept.
Aug.
Sept.
Oct.
Oct.
X
IX
ix
IX
ix
IX
ix
XX
,
Aug. 31
July 30a
Aug. 31
Aug. 21
Sept. 1
Aug.31a
July 31
Sept. 30
Aug. 15
Aug. 16
1 Holders
Sept.
1 Holders
Sept.
3
Aug. 15 Holders
4
Aug. 15 Aug. 6
25c. Sept.
1 Aug. 13
1 Holders
X Sept.
ix Aug. 15 Holders
1
Sept. 15 Holders of rec. Aug.l7a
Sept. 15 Holders of rec. Aug.30a
5
1 Holders of rec. July 30
Sept.
IX Aug. 20 Aug. 10
to
Aug. 20
1 Holders of rec.
ix Sept.
Aug. 15a
1
ix Sept.
Holders of rec. Aug. 22a
2
15 Holders of rec.
Oct.
Sept. 3a
50c. Aug. 25 Aug. 21
to
1 Holders of rec. Aug. 10a
IX Sept.
1
1 Aug. 13
Sept.
to
Sept. 1
1 Aug. 13
X Sept.
to
Sept. 1
2
1 Aug. 20
Sept.
to
Sept. 1
2X Aug. 15 Holders of rec. Aug. 5a
IX Aug. 15
to
Aug. 15
1
2
Sept.
of rec. Aug. 22a
2
Aug. 31 Holders of rec. July 30
1 Aug.
3X Sept.
to
2
Aug. 31
1 Aug. 17
IX Sept.
to
Sept. 1
1 Oct. 16
IX Nov.
to
Nov.
1
15
IX Aug.
Holders of rec. July 30
IX Aug. 15 Holders of rec. July 31a
IX Oct. 15 Holders of rec. Sep. 28a
IX Aug. 31 Holders of rec. Aug.l7a
IX Aug. 15
6
to
Aug. 15
l Ho Sept. 30
1 Sept. 10
X Oct.
to
Sept. 13
IX Sept. 15 Aug 20
to
Aug. 23
IX Sept. 20 Sept. 11
to
Sept. 20
IX Aug. 15 Aug. 7
to
Aug. 15
4
Sept. 15 Holders of rec. Sept. 1
7
Aug. 31 Holders of rec. July 30
1 Holders of rec. Sept. 15a
IX Oct.
IX Aug. 25 Holders of rec. Aug. 3
15
IX Sept.
Holders of rec. Aug. 19a
IX Aug. 20 Aug. 12
to
Aug. 20
to
Aug. 20 Aug. 12
Aug. 20
IX Aug. 15 Aug. 7
to
Aug. 15
IX Aug. 24 Aug. 4
to
Aug. 23
3
Aug. 15 Holders of rec. July 30a
2
15
Holders of rcc. July 30
Aug.
2
1 Aug. 20
to
Sept.
Aug. 31
2
United Cigar Mfrs., pref. (quar.)
U. S. Envelope, preferred.
U. S. Steel Corp.,
com.(quar.)
1
‘
-
Preferred {quar.) {No. 50)...
National Carbon, preferred (quar.).
Nlpe Bay Co.,
Aug. 31
Aug.22a
29 Holders of
[Sept.
1
.
common
Sept.
Aug.
Sept.
1 Aug. 14
to
1 Holders of rec.
15 July 17
30 Sept. 23
15 Aug.
7
Preferred B (quar.) (No. 21)
American Steel Foundries fquar.).
American Stogie, preferred {quar.)..
Eastman Kodak,
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
$3
Oct.
) 2 Xstk. Aug.
2
Sept.
IX Aug.
IX
The
5
5
5
5
15 Aug. 2
to
Aug. 15
1 Holders of rec
Aug. 15
15 July 31
to
Aug. 15
15 Holders of rec.
Sept, la
15 Holders of rec.
Sept, la
15 Holders of rec.
Sept, la
20 Aug. 16
to
Aug. 20
13 July 24
to
Aug. 13
15 Aug.
to
2
Aug. 15
1 Holders of rec.
Aug. 10a
1 Holders of rec.
Aug. 15a
1 Holders of rec.
Aug. 15a
15 Holders of rec. Aug.
la
1 Holders cf rec.
Aug. 10a
1 Holders of rec.
Aug. 12
1 Holders of rec.
Aug. 15a
Sept.
le
le
Oct.
Oct.
Oct.
Holders of warr’t, No. 16
to
>ept. 13
Oct. 12
to
Sept. 13
Oct. 12
30 Holders of rec.
Sep. 15a
25 Holders of rec.
Aug. 15a
l_Aug.
.
Diamond Match (quar.)..
rec.
3
to
3
to
3
to
21
to
19
to
Holders of rec.
Holders of rec.
1
1
1
-
Common (extra)
Bond & Mortgage Guarantee (quar.)
Borden’3 Condensed Milk, common.
Butte Coalition Mining (quar.)
Butterlck Company (quar.)
Cambria Steel (quar.)
rec.
20 Aug. 17
.
American Express {quar.)
rec.
rec.
rec.
July23a
July29a
Aug.20a
Aug. la
Aug. la
Sept, la
Aug. 15a
Aug. 5a
Aug. 5a
6
Sept.
Sept.
1
Sept.
Sept. 25
Aug. 20
Aug. 5a
1
Sept.
Aug. 8a
1
Sept.
rec. Aug. 10a
1
Sept.
rec. Aug. 10a
1
Sept.
rec. Aug. 18a
Aug. 20
to
Aug 19
1 Holders of rec.
Sept.
Aug. la
Oct.
15 Holders of rec.
Sept. 30
Oct.
1 Holders of rec.
Sept.20a
1
Sept.
ers of rec.
Aug. la
15
Aug.
31
to
Aug. 15
Sept. 16
era of rec.
Aug.31a
Aug. 18 Holders of rec. July30a
Aug. 25 Aug. 11
to
Aug. 16
Aug. 31 Holders of rec. Aug. 5
6 Aug. 21
Sept.
to
Sept. 5
Sept. 10 Holders of rec. Aug.24a
Aug. 15 Holders of rec. July30a
Aug. 15
11
to
Aug. 15
Sept.
Aug.
ix
Preferred {No. 7)
Georgia Railivay & Electric, com. {quar.).
Havana Electric Ry., com. and pref
1
1
1
3X
IX
2
rec.
rec.
rec.
1
15
15
Oct.
Oct.
Oct.
2
)
El Paso Electric Co., common {No. 2)
Galveston-Houston Elec. Co., com. {No.
rec.
1
Oct.
Oct.
Oct.
2X
29
1
1
1
1
377
Aug. 6
1213,111,5 290,931,7 71,821,6 1239,812,8
.
29.2
On the basis
of averages, circulation amounted to
$48,378,800 and United States
deposits (included in deposits) to $1,678,700; actual figures
Aug. 6, circulation,
$48,615,600; United States deposits, $1,649,500.
The State
Banking Department also
returns of the State banks and trust
charge.
furnishes weekly
companies under its
now
These returns cover all the institutions of this class
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
in the whole
following:
For definitions and rules under which the various items
made up, see
“Chronicle,” V. 86,
p.
are
316.
STATE BANKS AND TRUST COMPANIES.
State Banks
Trust Cos.
Slate Banks
Trust Cos.
in
i,7l
outside of
outside o
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
Week ended Aug. 6.
$
Capital
as of
June 30
Surplus
as of
June 30
Loans and Investments..
Change from last week.
Specie
Change from last week
*8,375,000
37,935,400
171,281,300
*10,866,851
*13,077,768
291,652,000 1,021,185,100
+ 521,500
—3,038,900
92,542,300
+ 306,200
137,812,000
+ 129,700
97,209,200
+ 606,700
144,268,200
+ 1,046,000
19,825,600
+ 12,000
19,434,800
+ 888,900
51,568,200
+ 2,102,300
115,136,000
—540,400
25,595,800
—875,300
13,197,700
—274,500
341,489,200 1,111,109,000
+ 1,941,600
—5,351,700
.
Reserve
on
deposits
97,798,000
+ 795,000
Change from last week.
P. C. reserve to deposits..
over
136,083,100
+ 361,400
29.1%
29.0%
Percentage last week..
+ Increase
5
*9,033,000
Legal-tenders & bk. notes
Change from last week.
Deposits
Change from last week.
$
65,406,000
.
*
$
25,125,000
last week.
Note.—“Surplus” includes
all
—
16.5+
16.2%
21.1%
21.1%
Decrease from last week.
14.1%
13.6%
* As of March 25.
undivided
profits.
“Reserve on deposits” in¬
cludes, for both trust companies and State banks, not only cash Items, but
amounts
due from reserve agents.
Trust companies In New York State are required by
law to keep a reserve proportionate to their
deposits, the ratio varying according to
location as shown below.
The percentage of reserve required is computed
on
the aggregate of deposits, exclusive of
moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days,
repre¬
sented by certificates, and also exclusive of
deposits secured by bonds of the State
of New York.
The State banks are likewise required to
keep a reserve varying
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days,
represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bonds
of the State of New York.
Reserve Required for Trust
and State Banks.
Companies
—Trust Cos.—
Total
Of
Reserve
which
—State Banks—
Total
Reserve
Location—
Required in Cash.Required,
Manhattan Borough
15%
15%
25%
Brooklyn Borough (without branches In Manhat.) 15%
10%
20%
Other boroughs (without branches in Manhattan) 15%
10%
15%
Brooklyn Borough, with branches in Manhattan. .15%
15%
20%
Other Boroughs with branches In Manhattan..__ 15%
15%
15%
Elsewhere In State
10%
5%
15%
Of
which
in Cash
15%
10%
7X%
20%
15%
6%
_
[VOL LXXXXI
THE CHRONICLE
378
Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks.
In addition, we have combined each corre¬
sponding item in the two statements, thus affording an aggre¬
gate for the whole of the banks and trust companies in the
We omit ttvo ciphers
The
Greater New York.
COMPANIES.
NEW YORK CITY BANKS AND TRUST
Clear.-House
Banks.
Week ended Aug. 6.
ActualFigures
Total of all
Banks& Trust
Cos. Average.
Clear.-House Stale Banks &
Trust Cos. not
Banks.
in C.-H. Aver.
Average.
Capital as of June 30..
132,350,000
132,360,000
74,581,000
206,931,000
Surplus
189,131,400
189,131,400
179,347,900
368,479,300
of June 30..
as
1,110,974,900 2,319,167,300
—3,516,300 + 13,275,900
1,213,111,500 1,208,192,400
Change from last week + 12,551,600 + 16,792,200
Loans and investments
Capital
Banks.
and
Boston.
$
40,300,0
40,300,0
40,300,0
40,300,0
July 16..
July 23.
July 30..
Aug. 6-.
Pblla.
July 16..
July 23..
July 30..
Aug. 6..
.
+6,588,000
71,821,600
72,524,900
Legal-tenders
Change from last week
Change froftrlast week
—802,000
—340,800
362,753,300
356,729,800
+
121,497.400
—663,400
405,702.300
+ 5,924,600
621.470,100
—316,400
93,995,000
—657,200
0142,967,500
—979,800
499,697,300
284,204,900
290,931,700
Change from last week + 11,753,600
10,951,600
+6,247,200
on deposit with
other bkB. & trust cos.
Money
Total
.
Change from last week
.
’S
362,753,300
reserve.
356,729,800
+6,247,200
Change from last week + 10,951,600
Percentage to deposits
29.29%
28.92%
29.02%
29.05%
Surplus reserve
52,800,100
49,041,400
+ 5,267,400
25,475,000
25,475,000
+ 1,089,000
+ 1,089,000
168,442,500
+ 109.200
525,172,300
+ 6,356,400
18.0%
17.7%
requiring reserve....
Percentage last week..
Specie.
Legals.
Deposits, a
$
$
$
$
249,319,0
170,560,0
153,570,3
143.499.5
143,078«T
146,544 2
137.641.6
151.107.6
151.382.6
293,863,0 15,811,0
289,992,0 15,999,0
a Including Government deposits and the Item “due to
Government deposits amounted to $3,033,000 on Aug.
other banks.” At Boston
6, against $3,036,000 on
Imports and Exports for the Week.—The following are
imports at New York for the week ending Aug. 6; also
totals since the beginning of the first week in January:
the
For Week.
1910.
1909.
1908.
1907.
Dry Goods
$3,096,845
General Merchandise
15.366,336
$3,168,302
12,293,650
$2,-545,146
9,611,311
$4,191,973
11,781,015
$18,463,181
$15,461,952
$12,156,457
$15,972,988
Total
Since Jan. 1.
$70,144,589 *113.822.333
$94,267,858 $102,850,296
467,499.617 411,286.490
Dry Goods
General Merchandise
295,250,322 426,397.288
$561,767,475 $514,136,786 $365,394,911 $540,219,621
Total 31 weeks..
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. 6 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1910.
1909.
1908.
1907.
$13,958,811
374,595,709
$11,834,370
360,478,485 ;
$7,728,036
$13,369,135
380,599,826
366,922,706
I
For the week..
Previously reported
+ Increase over last week.
—Decrease from last week.
These are the deposits after eliminating the Item “Due from reserve depositories
.other
banks
and
trust
and
companies In New York City”; with this Item included,
deposits amounted to $1,222,825,900, a decrease of $5,633,900 from last week. In
the case of the Clearing-House banks, the deposits are “net” both for the average
and the actual figures.
5 Includes bank notes, c Of this amount State banks held
$
$
7,513,0
7,497,0
7,467,0
7,499,0
293,445,0 16,196,0
292,727,0 15,984,0
66,6' 19,0
69,3( >5,0
70,8.37,0
68,5( )9,0
251,301,0
249,999,0
249,533,0
Clearings.
Circu¬
lation.
5,667,0 252,850,0
5,477,0 249,767,0
4,870,0 245,256,0
4,348,0 245,768,0
23,945,0
24,369,0
23,919,0
23,391,0
200,757,0
201,911,0
201,798,0
202,305,0
56,316,0
56,315,0
56,315,0
56,315,0
1,239,812,800 1,230,753,600 al,068,561,900 2,299,315,500
Deposits
—293,600
—23,164,500
Change from last Week +21,513,600 +22,870,900
Speetfe
Leans.
Surplus.
July 30.
S
$
$
$
(00) in all these figures.
$388,554,520 $372,312,855 $388,327,862 $380,291,841
Total 31 weeks
a
$14,633,800 and trust companies $128,333,700.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST
GREATER NEW YORK.
We omit two ciphers
lug
ouuwo
i/auju
iuuuwmg
EXPORTS AND IMPORTS OF SPECIE AT NEW
Deposits.
$
$
Money Entire Res.
Holdings. on Deposit.
Legals.
$
2.371.700.9 2.329.930,0
June
4..
June 11-.
June 18..
June 25.
2.358.172.2 2,329,091,5
2.361.489.8 2,338,192,9
2.372.896.1 2.355,576,7
July
2__ 2.390.776.1 2.368.248.4
July
9._ 2,355,907,6 2.316.544.5
2.331.502.9 2.300.377.2
July 16.
July 23.. 2,318,054,8 2.298.440.2
July 30.. 2,305,891,4 2,299,609,1
Aug.
6.. 2.319.167.3 2.299.315.5
^
.
%
$
378.288.5
379.990.2
383,945,9
388,859,0
382.979.6
367.817,4
376.881.3
389.600.7
399.777.7
405.702.3
$
89.904.4
468.192.9
90,802,3
470.792,5
475,269,4
480.539.9
473,071,5
456,669,3
467.790.2
482.104.9
494.429.9
499.697.3
91.322.5
91.680.9
90.091,9
88.851.9
90.908.9
92.504.2
94.652.2
93,995,0
491.135.1
493.105.7
497.976.7
502.770.4
496.189.8
479.891.1
490.754.8
504.939.4
518.816.9
525,172,3
Reports of Clearing Non-Member Banks.—The following is
the statement of
condition of the clearing non-member
banks for the week ending Aug. 6, based on average
daily results:
We omit two
Banks.
Capi¬
Sur¬
tal.
plus.
N.
Y.
$32,150,000 $2,059,070
8,699
4,455
1,800
3,279,132
$2,150
47,761
40.510
8,968,166
41,900
17,766
West Indies
Mexico
South America....
All other countries.
Century
...
Colonial
Columbia
Fidelity
..
...
Jefferson
Mt. Morris.
Mutual
Plaza
23rd Ward.
Union Ex.N
YorkvlHe
New Neth’d
Batt. Pk. N
Aetna Nat.
..
Loans,
Legal
Disc'ts
and
Invest¬
Tender
and
Bank
Notes.
Specie.
Deposit with
Clear¬
ing
Agent.
Other
Net
Banks, Deposits.
dec.
$
$
143,6
43,6
1,244,8
14.5
1,351,6
203,4
702,2
5,284,0
384,3
563,0
525,0
6,350,0
112,9
951,1
65,3
88,2
434,1
3,182,4
2,630,3
482,3
24,3
559,9
44,6
3,486,6
323,0
3,955,0
391,0
1,850,0
138,2
53,4
8,361,1 1,110,8 1,000,0
4,055,9
45,7
734,3
2,288,0
276,0
93,0
179,7
38,3
1,376,0
431,5
1,975,2
28,1
139,0
48,0
598,1
840,0
101,2
204,4
269,6
682,1
767,0
248,4
391,3
283,1
278,0
72,4
88,5
16,3
63,2
21,7
419,7
434,0
263,0
370,4 1,230,4
586,0
291,0
99,0
514,0
131,6
102,7
322,0
80,0
328,6
701,0
1,434,4
1,397,0
627,0
395,3
349,0
418,6 3,553,7
111,0 5,973,7
241,2 14,804,3
7,183,0
158,0 5,025,0
107,5 2,345,1
38,0 3,048,0
$
100,0
200,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
1,000,0
100,0
200,0
200,0
300,0
265,8
141,5
333,2
746,5
167,0
530,4
313,2
364,1
440,0
114,0
924,0
449,4
252,7
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
504,6 2,933,1
802,4 5,608,4
775,4 11,612,7
984,8 6,774,0
580,4 3,953,0
135,4
1,862,2
594,6 3,439,0
150,8
310,5
314
331,420
166,939
1,550,923
787,180
Silver.
30.255
4,830
20,322
13,344
1,294
7,824
51,371
848,367
708.886
835,165
$1,135,486 $26,329,885
986,583 28,394,941
969,341 26,096,011
$127,683
64,911
75,687
$2,466,251
3.139,051
2,240,359
$1,104,306 $24,480,192
26,900
1,318,000
Great Britain
France
$93
434.373
Germany
West Indies
62,235
106,741
Mexico
South America.
All other countries
4,000
280
Total 1910Total 1909.
Total 1908.
Of the above imports for the
American gold coin and $
the exports during the same
can
527
$
%
442,9
199,9
79,0
5,3
257,4
5,0
24,4
4,267,8
4,977,0
1,999,0
8,358,4
5,247,5
2,517 +
1,266+
1,849 +
time, $200 were Ameri¬
coin.
fPanMug and financial.
$
1,227,1
1,589,3
6,779,6
7,202,0
1,022,1
3,429,2
3,266,1
week in 1910, $1,800 were
American silver coin. Of
gold coin and $200 were American silver
City
of
$
$6,661,575
3,414,100
$2,150 $44,443,653 $2,175,fi05 $12,912,451
6,128,245
112,672
1,000,000 74.850,602
406,809 12,178,395
6,825 47,133,400
Total 1910
Total 1909
Total 1908
Boroughs
S
Since Jan. 1
Week.
Since Jan. 1
Week.
ciphers (00) in aU these figures.
ments.
Man.dk Brx.
Wash. Hgts
Imports.
Exports.
Gold.
Great Britain..!..
France
in aU these figures.
Specie.
YORK,
COMPANIES IN
Tot.
Loans and Investments.
v/i
uupwi uo
auu
1909 and 1908:
Germany
Week
Ended.
cApui to
tuc
specie at the port of New York for the week ending Aug. 6
and since Jan. 1 1910, and for the corresponding periods in
INVESTMENT SECURITIES
Our
eight-page circular No.687 describes several Issues
Investment bonds
of sound
yielding about 4 H to 5H%.
Spencer Trask & Co.
43 EXCHANGE PLACE. Branch offices: Chicago. Ill.. Boston.
-
NEW YORK
Mass., Albany, N. Y.
Borough of
Brooklyn.
Broadway
.
Mfrs.' Nat.
Mechanics’..
Nassau Nat.
Nat. City..
North Side.
First Nat..
Jersey City.
First Nat..
Hud .Co.Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
400,0
250,0
200,0
1,240,3
753,4
398,0
5,173,3
3,092,2
2,006,9
283,8
139,6
57,0
385,5
36,0
109,1
1,510,0
257,9
526,0
310,0
194,7
19,1
6,083,1
2,674,2
2,331,3
220,0
125,0
620,5
238,7
2.963,0
2,720,0
114,1
91,1
9,7
80,9
159,1
72.2
216,6
194,5
2,739,5
2,911,8
Tot. Aug. 6 8,447,0 13,131,6 100479,8 7,306,5 8,100,0 12,768,6 3,102,6 113670,7
Tot. July 30 8,447,0 13,131,6 100894,0 7,526,4 8,158,1 14,564,3 2,957,1 115217,2
Tot. July 23 8,447,0 13,131,6 102329.3 7.496,1 8,303,5 13,551,1 2,688,3 116101,6
WHITE, WELD &
CO.
Members New York Stock Exchange
5
THE ROOKERY.
NASSAU STREET,
NEW YORK
BANKING and
CHICAGO
EXCHANGE of every description In connection with
EXPORTS & IMPORTS
International Banking Corporation
60 Wall
CAPITAL & SURPLUS. $6,600,000
St., New York.
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia. ‘
Organized under the Laws
Accounts
of N. Y. State.
Invited.
TUnMiC
Interest paid
H
HIIRRADH
60 Wall St.. New York
Deposits.
on Term
D..
: A
.
Aug. 13
THE CHRONICLE
1910.]
%im\ixx& ftaselte.
Wall Street, Friday
mium.
Night, August 12 1910.
The Money Market and Financial Situation.—Business at
the Stock Exchange has been exceptionally dull throughout
the
week.
Practically all the developments that could
affect security values have been of a favorable character,
but they are generally meagre and not sufficiently decisive
to inspire confidence or stimulate activity in trade circles.
In nearly all industrial departments, especially in the
iron and steel trades, in railway equipment and supplies
and in mercantile circles
universal complaint of dull
are
showing,
as
of traffic and in
for
a
there
continues
trade.
to
be
almost
The railroads, however,
some time past, a considerable volume
few cases the rigid economy now forced
upon them has resulted in favorable net returns.
Although
such reports as those issued by the Union Pacific and South¬
ern Pacific are gratifying, it is not expected that the action
of the Canadian Pacific directors in increasing its dividend
rate will be followed in any considerable number of cases,
if at all.
An addition of $5,573,200 was made to the surplus reserve
of the Associated Banks last week, making a total of $52,-
800,100, and the indications
are
during the remainder of the year seems remote. The move¬
ment of crops may, however, and undoubtedly will, change
the financial situation materially.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 to 2%.
To-day's rates on call were 1@1M%.
Commercial paper quoted at
for 60 to 90-day en¬
dorsements, 5J^@5^% for prime 4 to 6 months' single names
and 6@6%% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £366,147 and the percentage
of reserve to liabilities was 51.05, against 49.98 last week.
The rate of discount remains unchanged at 3%, as fixed
June 9.
The Bank of France shows an increase of 8,925,000
francs gold and a decrease of 10,850,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1910.
Differences
from
previous week.
$
Capital
Surplus
S
1909.
1908.
Averages for
week ending
Aug. 7.
Averages for
week ending
Aug. 8.
$
S
132,350,000
189.131.400
126,350,000
126,350,000
174,450,100
161,127,100
Loans and discounts... 1,208,192,400 Inc. 16,792,200 1,361,527,800 1,275,621,600
Circulation
48,378,800 Dec.
67,700
49,767,100
56,003,400
Net deposits
1,230,753,600 Inc. 22,870,900 1,430,251,200 1,368,516,500
U. 8. dep. (lncl. above)
Inc.
1,678,700
39,900
1,613,000
9,235,600
Specie
284,204,900 Inc.
6,588,000 304,105,000 322,791,700
Legal tenders.
72,524,900 Dec.
340,800
79,403,400
78,561,700
Reserve held.
25% of deposits
Surplus
reserve
Surplus, excl. U. S. dep
356,729,800 Inc.
307.688.400 Inc.
6,247,200
5,717,725
383,508,400
357,562,800
401,353,400
342,129,125
49,041,400 Inc.
529.475
25,945,600
59,224,275
49,461,075 Inc.
New Orleans, commercial, 25c. discount to
par;
bank, $1 per $1,000 premium. Savannah, buying, 3-16
discount; selling, par. Charleston, buying, par; selling,
1-10 premium.
Boston, 5c. per $1,000 discount for cash.
St. Louis, par. St. Paul, 40c. per
$1,000 premium.
State and Railroad Bonds.—Sales of State bonds at the
Board are limited to $81,000 N. Y. State Canal 4s at 101%
to 102.
The market for
slightly
been
higher.
Erie
4s, both A and B, have advanced 3 points or
transactions, Wabash ref. and ext. 4s are
up 3 points and other convertible issues, including Chesa¬
peake & Ohio, Norfolk & Western, Southern Pacific and
Brooklyn Rapid Transit, are from 1 to 2 points higher.
conv.
more on
limited
On the other hand, 5 out
small fractional decline.
of
a
list of 30 active bonds show
a
United States Bonds.—Sales of Government bonds at the
Board include $10,000 2s reg. at 101%, $10,000 Panama
2s 1936 at 100% and $10,000 Panama 2s 1938 at
101%.
The
following are the daily closing quotations; for
third page following.
range see
539,450
26,348,850
Interest
Periods
2s,
2s,
3s,
3s,
4s,
1930
1930.
1908-18
1908-18
1925
*
yearly
Foreign Exchange.—On quiet trading sterling rates moved
6
Aug.
Aug.
8
9
Aug.
Aug.
AVO.
10
11
12
*100% *100% *100% *100%
*100% *100%: *100% ♦100%
*101% *101% *101% *101%
*101% ♦101% *101% *101%
*114% ♦114% ’*114%, *114%
*114% *114% *114%' *114%
*100% *100% *100%? *100%
*100% *100% *100% *100%
101%
*100%
*101%
*101%
*114%
*114%
100%
*101
♦101
*101%
*101%
*114%
*114%
*101
101% *101
This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—The stock market
has continued irregular but generally strong on a volume of
business which averaged only about 425,000 shares per day.
While the trading has been mostly of a professional
character,
as the small amount of business
indicates, prices moved up
during the early part of the week and again to-day, leaving
one-half the list of 30 active issues from 3 to 6 points higher
than last week.
Many usually prominent figures in Wall
Street are now only conspicuous by their absence, and, as is
well known, the public are not now interested in Stock Ex¬
change operations.
Among the exceptional features is Canadian Pacific, which
has advanced on its increased dividend rate and closes 7%
points higher than last week. Reading is 5% points higher,
Union Pacific 5%, Southern Pacific 4%, International Har¬
vester 6 and Sloss-Sheffield Steel
& Iron 5.
Some of the
copper stocks have been strong on reports of reduced out¬
put of the metal. Smelting, however, although very active,
closes
fractionally lower than last week.
daily volume of business see page 387.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
For
STOCKS.
Week
ending Aug. 12.
Sales
for
Range for Week.
Batopllas Mining
Canadian Pac subscrip
tion rects 4th paid...
Cent & So Amer Teleg..
Detroit & Mackinac
Homestake Mining
Lackawanna Steel
Range since Jan 1.
*
Week.
61,533,175
Note.—The Clearing House now Issues a statement weekly showing the actual
condition of the hanks on Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, also the summary issued by the
State Banking Department, giving the condition of State banks and trust
companies
not reporting to the Clearing House, appeaT on the second
page preceding.
Aug.
registered Q—Jan
coupon Q—Jan
registered Q—Feb
coupon Q—Feb
registered Q—Feb
4s 1925
coupon Q—Feb
2s, 1936.Panama Canal reglS Q—Feb
2s, 1938-Panama Canal reglsQ—Nov
Am Brake Shoe & F, pf.
up towards
the top.
railway and industrial bonds has
more active than last week and also stronger.
The
business has been well distributed, nearly all the active issues
having made some advance, and a few are substantially
that the banks have gained
further this week.
The Bank of England also reports a substantial increase in
its percentage of reserve and as the demand for loans from
all sources is limited, the probability of any stringency
Averages for
week ending
Aug. 6.
379
Lowest.
275 123 % Aug
100 $2% Aug
100
210
50
100
100
188
110
85
86
Highest.
Highest.
6 124% Aug 12 119
June
July 125
9 $2% Aug 9 $2% June *3% Jtm
Aug 12 188
Aug 6 115
Aug 8 85
Aug 8 86
38% Aug 8 38%
.
Lowest.
Feb
Aug 12 174
Aug 9 110
Aug
80
July
Aug 8
Jan
Aug 8 81
Aug 8 38% Aug
193
120
85
89
45
May
Jan
Aug
Feb
Mky
the close of the week and final quotations are at
Outside Securities.—With the exception of a
slightly
To-day's (Friday's) nominal rates for sterling exchange easier turn on one day, the market for outside securities
this
were 4 84
for 60 day and 4 86 for sight.
To-day's actual week has been strong and fairly active, prices in quite a few
rates for sterling exchange were 4 8360@4 8370 for 60 days, instances
making substantial gains. Copper stocks were
4 8570@4 8575 for cheques and 4
8560@4 86 for cables. prominent throughout the session. British Columbia Copper
Commercial on banks 4 82 % @4 83
and documents for sold down from 5 to 4%. Butte Coalition advanced from
payment 4 83@4 833^. Cotton for payment 4 82%@4 83 18% to 20. Chino Copper gained oyer a point to 13%, re¬
and grain for payment 4 83 % @4
acted to 12% and ends the week at 13.
83^.
Giroux rose from
To-day's (Friday's) actual rates for Paris bankers' francs 6% to 7 5-16 and closed to-day at 7%. Greene-Cananea
were 5 20 ^@5 20 less 1-16 for
long and 5 18% less 5-64@ registered an advance of a point to 7%. Miami Copper was
5 18% less 3-64 for short.
Germany bankers' marks were conspicuous, going up from 20% to 22, receding to 21 and
94 9-16@94 11-16 for long and 95 less
l-32@95 for short. closing to-day at 21%. Ohio Copper sold up from 1% to 2,
Amsterdam bankers' guilders were 40%@40 26 for short.
the final quotation to-day being 1 15-16.
United Copper
Exchange at Paris on London, 25fr. 21 %c.; week's range common, which has been inactive of late, sold up from 4%
25fr. 23%c. high and 25fr. 20%c. low.
to 6%.
Goldfield Consolidated improved from 8% to 8%
Exchange at Berlin on London 20m. 45pf.; week's range and ends the week at 8%. Kerr Lake lost about half a point
20m. 46%pf. high and 20m.
to 6%, moved up to 7% and finished to-day at 7%.
44%pf. low.
NipisThe range of foreign exchange for the week follows:
sing advanced from 10% to 10%. Among miscellaneous se¬
Sterling Actual—
Sixty Days.
curities Chicago Subway, after a period of quiescence, became
Cheques.
Cables.
High for the week.
4 83%
4 85%
4 86
active
and ran up from 2% to 5.
Low for the week
4 8340
Intercontinental Rubber
4 8545
4 85%
Paris Bankers' Francs—
was prominent for a rise of about 2
%
points to 23 %. Ameri¬
High for the week.
5 20 less 1-16
5 18% less 3-64
5 19%
can Tobacco fell 2
Low for the week
5 20% less 1-32
points to 398, advanced to 402 and sold
5 19% less 1-32
5 18%
Germany Bankers' Marks—
back to 400.
Standard Oil opened the week at 605 and
High for the week
94 11-16
95
95 % less 1-32
closed
to-day
at the same figure, having sold as low as 602
Low for the week
94 9-16
94 15-16 less 1-32
95
less 1-32
Amsterdam Bankers’ Guilders—
and up to 610%.
United Cigar Mfrs. common was traded
High for the week
40 1-16
40 27
40 31
in from 62% down to 62.
In bonds the new Bingham &
Low for the week
40
40 20
40 24
Garfield 6s were active and sold up from 104 to 106, reacting
The following are the rates for domestic exchange at the
finally to 105%. Western Pacific 5s advanced from 92%
undermentioned cities at the close of the week: Chicago 20c. to
92%.
per $1,000 discount.
San Francisco 60c. per $1,000 pre¬
Outside quotations will be found on page 387.
New York Stock
Exchange—Stock Record. Daily, Weekly and Yearly
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
Monday
Aug 6
Aug 8
*28
*65
35
72
*28
*65
96%
9738
99
99
96l8
99l8 99l8
10834 10834
106l2 107
10712 10712
10634
107
91
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18634
188
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715S
40
66
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122 “ 122%
-
142
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142
210
150
170
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71
99
53
73
73
161
72
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53
73
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24
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110% 111
107% 108%
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110% 110%
107% 107%
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91
91
65
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30
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2438
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210
150
175
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72
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53
73
72
2534
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33
9434
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575
3034
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52
12
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21% 21%
25% 26%.
43% 44
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5334 53%
22
*
39%
160% 161%
124% 124%
53% 53%
11% 111*93% 94%
124% 12534
53% 54
95
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45
10%
22
25
42
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74%
123% 125
147% 147%
14434 145
3%
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25%
42%
32
23%
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73
72
159
575
30
71
54
65
290
65
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53%
Lowest
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13,275
11,915
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72
>159
54
13
22
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11
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53
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71
161
575
31
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210
150
170
*234
711
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4
*94*
95
*9334
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nn
_
* *
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89
Hrooklyn Rapid Trans'tl
( Canadian Pacific
v
Canada Southern
~
Central of New Jersey 1.1
30,050 Chesapeake & Ohio
Ch cago 4 Alton RR____
30
^
Do pref.
_
Do pref ctfs
...
Havana
Electric
Do pref
Hocking Valley
*105
Do pref
*1283S 131
16~8
*4512
-
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17
461
17
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27
60
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.
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*
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50
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13012
128%
150
89
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31
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50
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3012
63%
50
130
68U
68%
28%
11138
28
1634
17%
46%
16%
48
17
30%
2934
78
27
16
42
68
135
2434
*89
88%
31%
63%
9534
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12734
94
115
32%
62
5134
130
68%
28%
111% 113%
30%
62l4
62
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65
*371o 38
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2414
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551?
111
1121.S
22
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50
51
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81?
812
71V
*6i4
29%
6138
9634
93
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94
116
90
92
30%
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60
112%
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v
26
52
17
34
4312
67
6
12
7%
481
93%
*5%
534
68
28%
*128
*23
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129
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61
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*63
135
25
51
*128
24%
*40
96%
*147%
♦
40%
96%
93
96%
*89
115
*95
*80
*95
.
129%
941
115
110
100
151
145
93
*89
108
110
108
128% 129%
94%
115
*86
*92
90
95
38%
38%
39%
37%
24
24
38%
24%
62
65
39
24%
2438
24%
58
60
6~8
22%
4834
29%
61%
58
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57
113
113% 1143*
2234 22%
5334 54%
26
„
7%
8
7%
8
27
'll' "l7%
34
43
*64
35%
43%
68
12
7
*5%
11%
7%
23
4834
48%
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48%
53%
25%
26
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48%
108
2434
28
52%
17%
34%
52%
17%
35%
44
*64
44
5%
67%
5%
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*7
*45
12
8
50
93
30
5234
5234
17
17
34%
43%
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43%
67%
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10
7
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10
7
50
66%
28%
114
61%
no
100
151
145
40%
97
947s
LakeDoErie
& Western...
pref
.....
100 Long Island
4,450 Louisville & Nashville...
50
1,400
30%
62%
65
381?
25 *
57
23
231?
53%
26%
533]
7
*61?
22%
49
*108
27
7
9
23%
49%
109
31
56
1738
3434
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173g
35%
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67%
5%
1
5%
10
6'%
*46
44
10
634
48
lULinneapolis &
300
Do
St Lou's
pref
4,700 Missouri
600
Pacific
Nash
Chatt
& St1st
Louis,
at Rys
of Mex
pref
94
Jan
198% May25
70
312
92
Jan
Jan
Jan
Do
adjustment pref
64% Jan 10
3
J’ly 26
j'ue27
225
Jan
J’ne
4
Feb
7
j’ly 26
12% Jan 4
92% Mch 18
104
Jan 16
65% Feb 26
83
81
185
G20
62
84
66
Men 4
Jan
6
Jan 3
Mch 21
Jan 3
Jan 3
Jan 27
18%
34%
34%
52%
Jan
Jan
Jan
42
Mch
37,045 Pennsylvania
1.050 Pittsb Qn Chic & St L_.
Do
pref
...
2d
500
pref
36,250 Rock Island
Do pref
4,900
125
1,200
i
Company...
St LDo& San
Fr. 1st pref
2d pref
...
600 St Louis Southwestern
Do pref
600
99.270
5,600
3,566
2,800
1,700
Southern Pacific Co..
Southern v tr cfs stmpd.
pref
Do
do
r|\5xas & Pacific
A bird Avenue (N
900 Toledo
Y)
Railways & Light
1,800 Toledo St L 4 Western..
Do pref
3,200
100 Twin
Union
Do Pacific
pref
400 Unit
Do
700
2,305
5,800
City Rapid Transit
Rys Inv’t of San Fr
pref
Wabash
Do pref
400 West Maryland Ry.__.__
Do pref
200 Wheeling 4 Lake Erie..
Do 1st pref
300
.......
Do 2d pref
1,100
300 Wisconsin Central...
Mch
4
12478 J’ly 14
101% J nel4
147
•
Jan
5
Jan
3
3
86% May 5
J’ly 26
J’ly _6
27
57
41
125
60
__
J’ly 26
J’ly 26
Feb 3
J’ly 26
J’ly 26
May 4
J’ly 8
Apr 28
Feb
2
105
J’ne 7
105
Feb 14
J’ly 26
J’ly 26
MchlO
J'ly 26
J’ly 22
J’ly 26
J’ly 26
J’ly 2?
Aug 11
Aug 2
122%
89
114
86
87
22%
54
58
80
Feb 18
44% Jan
3
71
4
Jan
25% Jan 6
6234Jan 3
70% Apr 14
159% Jan 6
139
Mch 8
5334 Jan
4
125%
10634
143%
122%
Oct
J ne
Aug
Jly
Apr
167
Jan
Dec
§180
68
101)
61
76%
73%
16734
535
37%
79%
Dec
Jan
Jan
Dot
Jau
Jan
Feb
Feb
Jan
Jan
56
Jan
14%
Nov
28
Feb
22%
Mch
36% Mch
28% Mch
Feb
Mch
Nov
2 Feb
Feb
"88“ Apr
137
11%
36%
2634
Feb
Mch
Mch
Nov
48
Sep
7434
Feb
37
67%
!9%
48
59
xl21
137
61
Feb
Feb
Feb
J&n
Jan
jan
Dec
Sep
81
Mch
155%
9234
51%
74%
73%
Mch 2
Jan
147
Jan
Jan
Jan
139
69
Jan
128
67
Mch
8
J’ly 20
29% May 6
9
May27
10934 Jan 21
98
Jan 19
Mch 14
Mch 11
6
Jan
Mch 21
91% Mch 16
145% Jan 3
11834 Jan 12
118
Jan
3
138% M^h 9
104% Mch 22
116
Mch
172%
93%
110%
57%
92%
Feb 18
Feb 17
73
60
1
Jan 3
Jan
Apr
Jan
23
J’ne 30
J’ne30
Apr
35%
71
65
Feb
Feb
Feb
122% Jan
44% Apr
21
Dec
120% Feb
48%
100
Mch
Feb
76% Apr
1154
Nov
7
105
65% Mch
Feb
20% Feb
47% Jan
114% Feb
22
60
30
F'eb
Jan
Feb
12% Dec
7
43
May
Feb
6434 Feb
97
Jan
172% Feb
x94
30
Mch
Feb
50% Feb
•
Jan
Aug
‘
15
41
Feb
Feb
6
J ly
15% J’ly
6% J'ly
357« Jan
A'lg
J
Jan
68%
Dec
Men
Jan
86
May
84%
Jan
200
680
54
90
May
Apr
Apr
Feb
713. Aug
21
Jan
36%
Jan
39
J ne
56% Aug
46
Aug
157% Aug
88% Aug
2i
103
100
Dec
Deo
Dec
J/n0
Aug
25% Dec
63% Deo
94%
162%
36
62
82
Apr
Apr
Sep
£0%
Aug
76%
29%
64%
7li2
162%
153%
65
90
Aug
Aug
J'ne
Dec
Aug
Jan
Jan
Jan
149% Jan
184% Au*
Dec
94
50% Occ
78% Oct
77%
142
64
Aug
Dec
Dec
26% May
147% Aug
69
100
95
Feb
Nov
17434 J’ne
Dec /i14934
42% Feb
65%
102
84% Jan
85% Mch
92%
133% F eb
159%
76
Mch 116%
Mch §106
100
88
Mch 115
126% F'eb
151%
86% Jan
09%
104
Feb
116%
Feb
118
173%
89
Mch
96
F'eb
90
117%
81
207g Feb
67% Feb
9434
36
Dec
Deo
SeP
18% Jan
83%
/,147i,
13% Jan
56%Mch
J’ly 26
181
Nov
Sep
Dec
Apr
Mch
198% Aug
Mch §230 Aug
132%
May23
70%
323%
91%
7434
78%
37%
64'%
165%
208
148
166%
3%
734
Apr
82% J’ne
18938 Oct
Feb
Feb 24
Mch 3
3
£
5
96
173%
80
145
34%
Jan
34% Jan
18% j’ly 26
61% J’ly 26
77% Jan
103% J’ly 26 *138% Jan
18
J’ly 26
3334 jan
75
43
Jan
j’iy 26
22% J’ly 26
3634 j an
6%J’no 1
19% Jan
5% J’ly 6
1534 Jan 12
19
J’ly 26
S488 Jan 4
72% Jan 4
4234 J’ly 28
103
J’ly 26 H7% Jan 3
152% J’iy 26 20434 Jan 3
88% J’ly 26 10334 Jan 7
23% J ne30
42% Jan 3
J'ne30
47
72% Jan 8
2734 Jan 3
12% J’ly 26
61
Jan 3
28% J’ly 26
40
J’ly 26
54%Mch 12
67% J’ne 18
70% May 19
3
10
Jan 3
Apr 28
8
4
44
Jan
Jan
100%
107% Jan
1031? Feb
91
Nov
3 an
67
i165
Mch
60% Jan
2:5
Feb
55% Jan
57% £eo
70
Nov
31% Dec
58% Dec
141
Feb
158% Mch
83%
Jan
54% Jan
...
’97%
99
J’ly 26
Aug 2
J’iy 20
2b
J’ne 6
Mch
39
25% Jan 11
627s Jan 12
J’ly
25
97%' Apr K
30
114
144
Mch
136%
65%
13%
J’neao
Aug 2
J’nejo
J’ne29
J’ly 1
131% J’ly 26
J’ne 30
123
23
J’ly 2t
47
J’ly 27
20
14378 Jan
80% Jan
18% Mch 22
15
25
68
23
58
15
45
60
130%
Reading
1st pref
3
14% J’ly 20
41% J’ly 26
111% Aug 2
Do 2d prel
t3
6
Apr 28 162% Feb 22
Apr 25 §170% Feb 18
May24
5% Jan 4
_
88
Pacific
Co
Do Coast
1st pref
4
66% Jan
69 Apr
367s Jan
Apr 28 162
Subscription receipts z.. 1143 J'neio /tl51
881? Aug 2
50
2,815 N Y Ontario & Western.
88% J’ly 26 108%
3,600 Norfolk & Western.....
31". 580 Northern Pacific
7
82% Mayi'l
158% Jan
172% Jan
182% Jan
J’ly 26
J’ly 27
Aug 1
149% J’ly 26
490
J’ly 26
23% J’ly 26
62% j’ly 26
45
J’ly 11
10
J’Jy 1
17
J’ly 26
12% J’ly 16
35
J’ly 27
26% j’ly 27
118
J’ly 26
45
J’ly b
1L
Aug 10
88% Jau 20
94% Jan 25
102
May 5
.
:
124% Jan 3
104% Jan 10
137% Jan 5
119% Jan 8
t
46
70
70
Do 2d pref
4,900
23%
17,950 N Y Central & Hudson.. 105%
400 N Y Chic & St Louis....
55%
Do 1st prer
§101
Do 2d pref
82%
149
100 N Y N H & Hartford....
165% 168% 356,900
9334 9334
1,725
*29
54
\/|anhattan Elevated...
Do pref
5.635 Minn St P & S S Marie
Do prer
347
Do leased line ctfs
6,566 Mo Kansas & Texas.....
115
90
93
.
J’ly
5% May24
J’ly 25
86
Illinois
Central..
nterboro-Aletropolitan
72% Mch 5
70
100
124
Do pref
8,530
1,325 Iowa Central
Do
pref
2,120
f7~ C Ft S & M tr cfs, prei
2,800 lYansas city Southern..
Do pref
800
133
114% 11534
71?
23%
49%
108
93
*28
29%
62
*58
38
*23
57
7%
164% 165%-
28
5%
111
23
53
6%
7%
23'%
49%
49% 49-%
*107
*107% 109
108%
162% 165% 16434 166%
93
93
93
93%
27
571?
11334
1,000
15,100
141% 143% 451,100
30%
2234
26%
94%
*86
93
29%
2238
17
40
66
93
115% 1161?
*95
108 *
*80
110
*98
108
12834 130
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62
58
31%
63%
61%
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96%
139% 141%
90
98
113
*
11534
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*105
66%
28%
40%
9634
30%
59% 59%
111% 114
29%
61%
48
130
130-%
146
146
*861? 88%
*100
*80
*149
63
70
61
*60
78
139% 141%
129%
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*86
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2938
28%
61
17
40
66
66% 6634
283S 28%
11234 113%
*60% 62
62
110
100
150
*-.-. 145
40% 41
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94
81
7
23
4334
28
113
62
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150
14038 142%
90
94
*69
138% 139%
66%
28%
11334
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*7%
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*63 “
*10
7
*48
127%
26%
17
34
266%
105
105
105
*105
1634
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16%
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148
150
*861? 88% *8634 88%
32 “ 32%
3134 32%
32% 32%
*62
63% *62
63% *62
63%
51
51%
51
52
50% 50%
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135
*125
130
*125
135
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*80
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25%
50%
129% 131
11634
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838
634
2234
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26
24%
52
*88
115
108
*85
110
*80
*85
108
129% 129
941
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116
*105
23
54
50%
1634
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92
52
26
133
114% 1163g
52
634
2212 22%
22%
463.J 471
4734
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:162% 16338 162% 164
94
94
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-
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65
39
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111
22
52
61
110
92
’40%
137% 139%
*85
92
61
*100
*80
40%
96%
127"8 1283S
*91
*105
90
931 f
*9H2
2934
*45
146
89
62
50
*125
68% *67
28
28%
114% 115%
108
110
108
*85
*6l2
145
*86%
31%
50
130
145
*39%
137"8 138%
*10
130%
*14
*30
*62
138% 139%
130% 130%
16% 1738
46% 4734
1634 16%
301.1 30%
31
78
2838
60"8
61
17
47
68
§133
129’
16
*30
*69
28%
61
*14
*35
*60
*44
52
131
150
61
110
92
28%
24%
2434
111% 111%
114l4 11434
*514
135
*145% 150% *145% 150%
96
93
34
78
13834 13934
*127
17
*69
17
45
67
*14
*33
*62
47%
78
2S34
60%
163s
4534
17
30%
151
145
*95l2
*42
*62
27%
60%
60%
16%
46%
130
130
131%
*16%
30%
*60
*100
*80
4038
26
*50
17
*69
130
1634
3034
61
110
92
*39
*95
*80
*98
127
*91
*105
130
130
13S34 13834
2412
3014
*60
50
*125
*66
60%
138
132
2414
*40
.126
*145
*87
*16
29
*69
27
78
27
60
16
40
65%
*137
*127
■128% 130
1634 17%
46% 47
36
Feb 23
J ’ly 26
J ’ly 1
J’ly 26
Aug 2
237g J’ly 2
64% J’ne2
J’ly 2
J’ly 2.
J’ne30
j’ly 26
stmpd
Cleve Cin Chic & St L__
Do pref
545 Colorado & Southern
"
Do
182
lit preferred
Do 2d preferred
200
1,225 f^elaware & Hudson.__
i^e aware Lack & West!
4,660 Denver & Rio Grande..
Do pref
1,301
Detroit United
."**
310 Duluth So Shore & Atian
Do pref
320
17,500 \?ne__
Do 1st pref
3,795 1-1
100
Do 2d pref
Great
Northern pref
11,170
I
Iron Ore properties".!
1,800
9 Green Bay & W, deb ctfB
Feb 25
Mch
Highest
Lowest
Highest
68% Feb 7
176% Feb 8
60% J’ly 20
248
J’ly 26
65
Aug
1,500 ^hlc Gt Wes; trust ctfs! I
19
Do pref trust ctfs
2,400
40
24,100 Chicago MJlw & St Paul
113%
Do pref
2,395
143%
& North Western
5,760
137%
Do pref
203
Chic St P Minn & Omaha 140
Do pref
§160
Chic Un Trac ctfs stmpd
2%
,
Range for Previous
Year (1909)
Range Since January 1.
of 100-share lots
On basis
75% 773s
191% 193
65%
23%
*203
*135
*150
5334
53%
71%
*493
30
39%
stocks
NEW YORK STOCK
EXCHANGE
Arbor
25
Do pref
48%
51.900 Atch Topeka & Santa Fe
9034
Do pref
1,430
X97
3,150 Atlantic Coast Line RR” 102%
5,900 Baltimore & Ohio
r104
73%
23%
44% 45
123% 123%
147% 148
144% 144%
99
160%
*25%
*
73%
71
73%
PAGES
99%
100% 100%
11034 112
107% 108%
*61
*265
65
290
72%
3%
*70
*95
73
70
159% 159%
146
210
150
170
35
72
Sales of
the
Week
91
*60
*260
23% 24
44% 44%
123% 124%
147% 148%
144
*203
*130
*150
*28
*68
98
75% 751?
189% 190%
40
♦
Aug 12
35
72
*68
§259% 259%
73%
72% 73%
23’
39
39%
*28% 31%
123% 12478
35
72
75% 75%
190% 190%
65
290
*25
¥
575
29
70
48%
12%
*28
*63
108%
71%
3%
*48%
U2%
35
72
76%
188% 19038
72%
40
Thursday
Aug 11
110
*60
*250
Friday
Wednesday
Aug 10
7434
12134 123
14612 146%
147
142
210
150
170
31
*212
*52
65
290
65%
2314
43%
*42
*146
142
*203
*130
*150
*65
*___
96%
99
109
107
*85
90
*26
*
22%
.
*28
*65
74”8
18634 1871?
71%
*27
*__
35
72
98
7534
65
2S0
70%
•
Tuesday
Aug 9
TWO
Dec
J ne
Dec
J iy
Aug
Dec
Sep
Dec
Sep
Dec
Sep
Sep
Aug
Deo
Dec
Dec
Dec
60% Sep
74
3538 Deo
82
Dec
139% Aug
34
Aug
75%
40%
42%
15*8
54%
74%
116%
Dec
Aug
47
77
Sep
Jan
Jan
Oct
Jan
Dec
219
Aug
118% Aug
Sep
27% Dec
6134 J’ne
12% Jan
25% Jan
15% Jan
6378 Apr
BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS.
Banks
bid
Ask
New York
Aetna
America ])._
Amer Exch.
Audubon
..
Battery Pk_
Bowervj]
Bronx Borol
Bronx Nat.
Bryant Pk f
Butch & Dr
Gentury D_.
Chase
i
'
175
580
225
100
115
375
300
190
155
140
170
430
Banks
Chatham
Chelsea Ext
Chemical
Citizens' Ctl
..
180
600
235
115
125
200
160
145
175
^-50
City
Bid
Ask
320
200
430
330
155
160
Fourth
Gallatin
Garfield
Germ-Am t
Germ'n Ext
Germania tlGotham
Greenwich t
Hanover
.
165
1100
175
4500
G»ia~~«*-~cLCG',rZZ’ZZ
Sale nt Stock Exchange or at T.71ITT*r>7.w“
auction this week
875
14th
Coal & Iron 150
165’
Colonial tl-- 350
Coiumbia t- 350
Commerce
t1951? 1190
Corn Ex tl-. 305
315
East River. 145
155
Fidelity tl-_
Bid
300
445"
f36 *
Flfth A vet.
Banks
Filth
First
Stt
—.
....
_.
Imp & Trad
day.
h
1150
1184
320
Ask
Banks
350
900
Irving N Ex
Jetfersont-Liberty....
T184% Lincoln
340
Vlanhattant
290
3Q0
140
150
.viark’t&Ful
viech&Met’s
565’
Mercantile
Merch Exch
155
265
630
560
Metropolis t
Metropol 'nt
Mt Morrlsfl.
4S5
550
150
255
620
540
_
Merchants'.
Bid
Ask
Banks
bid
Ask
205
175
625
400
320
250
250
150
160
*175
390
200
210
Mutual t
295
185
Nassau t
New Neth d
285
240
210
900
320
200
250
250
260
425
335
255
260
160
170
180
410
_TTr
NewYorkCo
New York,
N’ht ADayt
19th Ward.
Northern
Pad Act-... 230
Park
1345
People's t-- 270
Phenlx
195
625
Plazat
..
....
Banks
Prod Exch
Reserve
Seaboard
Second
t
...
230
..
....
335
225
260
105
240
350
280
205
Sherman...
State tl ....
12th Ward.
23d Ward..
Union
Exc.
bid
Ask
166
105
39u
115
400
425*
135
275
290"
140
140
165
Wash H’ts t 275
West Side t t601
Yorkvllle t- 500
3Less
than 100
Ex-dividend and rlgnts.
usima. a r,a-iuviueuu
« ocss onau
ioo shares.
suarcs. tState
nouawj banks,
First Installment paid
n Sold at private sale at this price,
z 2d paid.
y 3d
b New stock.
paid.
175
175”
AUG. 13 1910
New York Stock
|
Record—Concluded—Page 2
STOCKS —.HIGHEST AND LOWEST SALE TRICES.
Saturday
Monday
Aug. 6.
Tuesday
Aug. 9.
Aug. 8.
♦250
*250
834
834
♦27
63
♦42
♦100
63%
63
44
*4112
100*2
3238 33%
♦85
*85
4514
....
58*2
101
103
♦225
250
♦41 ?
5
♦26
30
18a8
*101
*225
2778
1834
1234
185S
13*8
11'8
33
33
36
36
102*2 10234
5
♦4*2
♦3014 31
♦83
86
33
36
103
31
300
101
44
*42*2
*117
*114
132
*200
*95
44
*116
*116
132
119
120
132
9114
2738
S9378
*38*4
91*4
277g
94
39*4
*22
25
52
*
*129
1310
*9*8
34
*103
*28
*5
40U
§834
*53
*28
1334
*71%
2714
275s
*2234
40
*55
69
*140
143
90
90
118*2 119
*4%
12678 128l4
ra
721?
63
*2234
*10
*45
♦43s
5U
1412
141?
11
*10
81
9912 102
4778
20
*65
*66
....
6734
3312
*31
105
*84
105
88
16
70
33
96
160
*214
*3*8
3034
*90*4
*29*2
90*8
*1412
*63
34
*93
§160
33g
5%
3034
99
30
90%
56
116
231?
§5812
10
3034
66%
101%
300
101
12034
11878 1187s
133
133%
92% 923g
*27
95
40
25
28
95
4034
2534
51%
133
834
31
85%
6438
5134
834
132
*8
53
133
10
31
34
120
61
33s
5%
901?
58
23%
68
99
67
7
20
331?
29%
81
81
81
76
63
29
25
621?
*55
*28
25
4034
*2234
*60
144
92
117
144%
*434
*15%
*10
81
81
93
117
5
*65
81
101% 102
25%
32
32
*155
168
65
6 434
05
581?
59
59
125
*105
125
33g
5%
647S
61
*105
61
25
*85
*7
*53
*95
*100
60
104
102
33
*155
3178
*90%
29%
90%
59%
99
60”8
25
15%
*---.
*2%
*3%
301?
92
*90
90%
7%
55
99
68
7
20
57%
*118%
3%
5%
3134
160
102
*86
*71
39%
81%
103%
87%
73%
103% 104
121% 121%
*15% 17%
*80
100
*157
160
338
*2%
6%
33%
3%
*301?
*95
99
29%
90%
59%
”
11
49
48
3%
3%
33%
30
99
30
9278
927g
59
61
778
60
109
105
14%
34%
106
69
70
116
471?
§104
*100
14%
♦14%
58
99
69
7
30
♦52
99
6978
*5
*15
34
35%
107
*67
108
*66
69
58*4
2434
90%
8
58
104
105
16
58
23%
*85%
»
100
Do
99
70
25
34
108
69
*
61
*
61
1157s 116
46% 47%
5S%
120
*
59
120
61
168
*155
641? *63
64%
*60%
*105
6134
125
60
*105
168
65
60
125
*155
*63
59
*105
168
65
59
125
J’ly 26
J’ly 27
1,500
5,650
29,100
6,100
100
Do
27
4
114
J’ly l
Par$25
J’ly 26
Texas Pacific Land Trust $1934
83
Feb 8
I [ulon Bag &
Paper
6
J’ly 6
U
Do pref
55
15
J’ly
United Dry Goods Cos..
95
Aug 2
Do pref
99% Aug 2
U S Cast I Pipe & Foundr
14% J’ly 21
Do pref
49
J’ne2b
United States Express..
95% J ly 26
U S Realty & Improvem't
6434 J’ly 26
U S Reduction &
Refining
4 *J’ne27
Do pref
13
J’ly >•,
United States Rubber
27
J’ly 26
Do 1st pref
99
J’ly 26
Do 2d pref
59 ? J’ly 27
United States Steel
61%
J’ly 26
Do pref
lloi? J’ly 26
dUtah Copper
Par $10 t$393g J’ne30
Do
pref
Virginia Iron Coal
& Coke
47
Feb
a
117
53
J’ly
28
152
53
Feb
Apr
prpf
Jan
Jan
20
J’ne
4 734
J ’nc
923s Aug
10512 Nov
11634 Aug
Mch 5285
Nov18
Feb
25
90i 2 Feb
26
Feb
9334 Jan
17% Feb
L8% Mch
3
Sep
69*4 Aug
Jan
Mch
NOV
May
663g Nov
1363g Sep
131
Apr
145is Sep
104
May
40i2 Aug
10734 J’ne
$54% Dec
36i4 Sep
105
69i 2
181s .Tan
4834 Ja n 3
109% Mch *8
50
Jan
Jan
3
4
Jan
8
Jan
Jau
Jan
3
6
9U2 Dec
37c Oct
165i4 Jan
26*2 J’ne
93i2 J’ne
3
4U2 Jan
95i2 May
6
1257? Jan 10
129 ~ Jan 4
16 Jan
611? .Tan
17234 Aug
11834 Dec
9
27%
19i4
6934
6412
Jan
Jan "
Aug
Nov
99* 2
Sep
94
Aug
3
91
Sep
1133s Dec
95i2 Nov
775S Dec
120
Sep
130
Sep
30*4 Dec
Jan
5
17
28% .Tan 3
jan
89% Jan 4
110% Jan 17
$2158Mayl6
95l2 .Tan 3
.Tan
2
43% Jan
16% .Tan
4
il6% Jan
106% Jan
2734 ,J an
Jan
8
8
r
3
5178 Jan
0
107lo .Ta
200
n
4
i
Jan ll
3% Apr 6
578 May21
5178 Jan 3
107
.Tan
17
4578 Jan
104% Jan
3
8
'6
1183, T?Ah
1
86ioJan
$40% Jan 3
95 ' May 13
13% Jan 10
122
Jan
1137g jan
Jan
3
4
3
lo
30
4
14
821? Jan
^
32
84
145
Jan
Jau
Jan
84% Jan
11
HG% Jan lo
84
01
Jan
jan
1253s
$60%
62%
129%
Jan
Jan
Jan
c
73
Jan
8
udu
*1
3
3
3
6
May27
jail
0
78% Mch
82% Jan
130
•
3
Feb 24
Deo
Oct
128
5
5
3
64% Jan 7
9034Jan 17
116% Jan 10
91% .Tan 5
78% .Tn n 10
So
Aug
94
16078 Jan
84
Dec
63
36% Jan lo
60 ' Mch 8
115
125
Dec
53
621« Feh 95
7% Jan
243s jan
Sep
16412 Dec
19*2 De<*
37
Nov
5134 Oct
111
Sep
(:
92%
36c!
160%
23%
8638
Dec
122
Aug
111? J’ne
59 * Sep
Jan
347g Feb
15% Nov
7
3
8
J’ly 26
49% J’ly 26
May 3
llo
1
** Mch
ov
YV7 ells Fargo & Co
1,035
estern Onion Teleg
850 Westlngh’seEl &Mfg assen
Do 1st oref
97
nr
$54
5
dTennesseeCopper
Virglnia-Carolina Chem__
A
M
34
Feb &
Aug 11
J’ly 25
8234 J’ly :6
48% J’ly 30
pref
Feb
Jan
Feb
01
2j
95
9934 Mch D
39% Mch 18
J’ly 26
J ne
9WA
ini
66
104
J’ly 14
63
J’ly 6
22% J’ly 26
30
J’ly 25
103
J’ly 26
84
J’ly (.
13
J’ly 26
60% J’ly 26
25
J’ly-6
yo
J’ly 27
155 J'ne 2b
2% J’ne 27
278 Aug 1
28
J’ly 26
J’lV 6
95
Nov
Aug
Nov
Nov
617s Aug
4214 Apr
09*4 Feb
5*2 J’ly
38
Nov
7
Feb 18
Mch 21
143% Feb 24
J’ly 26
11% J 11330
70% J’ly 26
55
Apr 20
25% J’ly 26
J’ly 2o
J’ly 27
Aug c
J’ne
7612
12434
79*4
107*4
Feb
12
29
49
Jap 1(1
12S78 Feb 18
J’ly 26
Apr
86
300
10
6*4 Feb
80
J’ly 26
45% J’ly 26
10134 J’ly 23
$17% J’ly 6
59
J'ne 6
pailway Steel Spring..
K Do pret
2,000 Republic Iron & Steel
Do pref
1,570
3,021 Qioss-Sheffleld Steel & Ir
Jan
Feb
8
118% J’ly 6
15
J’ly 26
85% May 13
4
T)n
*155
•
J’ne
Oct
15's Nov
7734 Feb
J’ue 6
25%
99%
22%
4%
71
100
1,700
5
8
48
12634 J’ly 26
90% J’ly 26
25% J’ly 5
91% J’ly 6
$33% J'ly 26
21
J’ne3t
49
Aug 10
125
J’ly 26
8
J’ne29
79
pref
8% .Tan
115** Jan
114% J’be 6
41% J’ly 26
36% J’ly 26
78% J'ly 26
93% J’ly 29
Companv
(Quicksilver Mining..
93
05
621o.Ta.n
12% J’ly 26
9
J’ly 1
_
32’0
467g.7an
26
28
98
Aug
49% Aug
1878 Jran
95% Jail 13
115
Jan
120 ” Mch '
0934 Mch i
4
67*2 Nov
96*8 NOV
50
Aug
103
82
3
6
3
Feb
Feb
3312 Jan
9512 Jan
20% Jau
34
J’ly 23
61% J’ly 26
98% J’ly 26
277 ’ Apr 4
J’ly
38
65
lu
15
Jau
Nov
16?8 All?
,250
123„ Feb
712 Feb
71% Feb
44% Feb
07*2 Feb
42is Jan
>2
25
53
134
•
2,900 National Lead
300
Do pref
15,900 dNev Cons Copper. Par $5
590 New York Air Brake....
900 North American Oo, new
1,300 pacific Mail
300 A aclflc Telep & Teles.
3,700 People’s G L & C (Chic).
200 Philadelphia Co (Pittsb'h)
300 Pittsburgh Coal Co__
10
Do pref
2,650 Pressed Steel Car
Do pref
110 Pullman
100
77,s
60
104
11
105
175
100
*14% 16
*52
58
100
*96
99
100
70
70
900
*5
7
*15
25
33% 331?
3,750
107
107
1,110
*66
69
300
71
69%
454,725
70%
11538 115%
457S 4G34
58% 59%
120% *119% 120%
*119
23%
90%
” Feb 1
$235 Aug 3
4% J’ly 26
20
J’ly 26
16% J’ly 26
10% J’ly 27
25% J’ne30
29
j’ly 26
102% Aug 6
4% J ly 26
lg% J’ne30
322
200 International Paper..
Do pref
500
800 Internat Steam Pump..
300
Do pref
32,760 Laclede Gas (St L) com..
100 Mackay Companies
100
Do pref
500 \J ational Biscuit
100 T*
Do pref
800 Nat Enamel'g & StamD’g
Do pref
*7
*53
*100
*100
7
*105%
69
69% 7034
115% 116
457s 473g
58% 59%
122
61
168
65
62
125
90%
*55
*96
69
*5
*14
34%
*24
*85
*7
*53
25
62% J’ly 26
Do pref
1,600 General Electric
9,360 I nt Harvester stk tr ctfs
s83%
2,140 A
Do pref stk tr ctfs
xll7
Int Mer Marine stk tr
ctfs
4%
825
Do pref
O
55
*96
68
*5
*12
67%
*157
160
*2V4
*3%
3134
*90%
30 "
32
99
30
91
61
*14%
115
45
61
97
1601? *157
24
*85
*7
*53
*95
*100
11434 H5I4
4414 4512
951?
117
5
47% Jan
95% J’ne
1378 Jan
81% Jan
7278 Jan
J 11330
38
.Tan
3
5
3
49 * Jan 10
103
Jan 10
101
cv
Federal Mining & Smelt’
16%
*3834
*80%
109
Corp
14334 14334
16
nnr
27,950 Consolidated Gas (N Y)
1,650 Corn Products Refining..
125
Do pref
Crex Carpet
1,400 Distillers’ Securities
25
621?
’
34%
58
29%
51% 52
51
50% 51%
51
104% 104% *103% 10434 10434 10434
20% 21%
21
20?8 21%
21%
70
70
70% 70% *70
75
69
67% 67% *67
*67
68
25% 25%
24% 25
25% 25%
32
32
3134 3134
*31% 321?
105% 1063g 10434 105
1053s 106
*84
88
*84
88
87% 87%
16
16
15% 151? *15% 16
*64
§65
65
70
*62
70
35
35
35
3434 35
36
*93
97
*94
97
*93% 95%
88
16
70
*2%
*3%
30%
*90%
29%
89%
*65
571? 5712
*118
120
.
70
68
6684
2434
*27%
*2234
§11
47%
39%
8QQ iV»mstnrlr Tnnn»i
76
63
*4"8
17%
7,450
4,500
3,600
_
12834 130%
133s 133fi
*60
Highest
Jan
90
15
__
200
.
9fir*
*72
*55
93
117
11
47%
39%
IOI84 103%
6134
10434
2034 21%
671?
69
168
11334 Aug
80
Feb
72
Jan
29*8 Feb
45% Nov
IOH2 Jaa
<j9i2 Dec
10
Apr
40
Feb
301? Feb
96 ‘ Feb
Jan
169
1%
^
Mch
3
321? Mch
9778 Feb
16% Feb
67*8 Feb
68
Feb
1073s Feb
$33% Oct
80t? Feb
9*4 Feb
Jan
Oct
97*4 NOV
87*2 J’ne
481? NOV
Oct
64
Aug
Dec
120
103
2938 NOV
871? Dec
“ Aug
11134 Aug
56
Aug
200
9% J'ly
10
May
541- Aug
109 " Aug
4912 Sep
11014 J’ly
945e Oct
120
Sep
8
$49
9378 J-iy
153* J’no
66
115
109
8114 J’ne
12512 Dec
70
82
64
10
24
27
98
Mch
8712 Aug
Feb 5111
Deo
Feb
87
Sep
Mch
17% J ne
Feb
3912 Aug
Feb
57% Aug
Jan
12312 Aug
Sep
24% Feb
67*2 Feb
41*4 Feb
Feo
107
$39*8 Feb
40% Feb
114
67
Jan
Feb
Feb
Jan
Jan
Feb
Feb
6
45
300
64
74
-
Jan
114
Dec
35i2 J’ne
891? Aug
0478 Oct
131
Oct
167% Nov
5638 Deo
128
Dec
7578 Sep
37*4 Nov
9134 Nov
670
Deq
BANKS AND TRUST COMPANIES—BANKERS'
QUOTATIONS.
Banks
Bid
Brooklyn
Broadway J
Brooklyn j,.
Coney Isl’d?
First
I
Hillside^
Ask
375
110
155
290
Homestead^
’
Manufac’rs'
415’
Mechanics'!
;.24Q
Montauk
Nassau
28%
*2234
1283s 129%
13% 14%
*72%
*3934
34%
9012
56%
67'8
78
63
40%
*93
*157
29%
67
*73
*55
40%
10434 10518 §106
67
6834
114% 11434
44*4 441.1
57^2 571?
*105
*130
132%
11
4S
105% 106
99
*41*8
68
*155
65
39%
40
25
51%
*10
*46
*84
16
♦63
100l2 10012
*14l2 151?
104*2 104*2
*118
*24
11
49
88
16
70
34
96
160
291?
151?
58
*52
99
*96
68
*---.
7
20
*12
33
33*4
07
25
52
*60
10512
*94%
*14l2
40
50%
661*
2412
3312
30
99*2
3314
....
♦85
90
71?
712
*53
591?
*95
104
7U
60
104
28%
*102
2H8
30
2312
9018
63
2734
*2234
101*4 103%
*82% 86
*71
72%
513g
106
*214
*3l2
$99*2
*4*8
27%
95%
86
86
*81
86
871?
721?
*71
72% 72%
72%
106
*101
105
*101
103
*101
103
130
♦120
130
*120
130
*120
130
16
15% 151?
1534 1 6
*15% 17%
100
*80
100
♦80
*80
100
100
66*8
24*2
25
*55
*10
*45
40
81
1934
70
*24l4
*12
27%
*94
62%
62%
143% 143% 144%
89% 9078
90% 92
118% 119 rll7% 118
5
*4%
*434
5
16
15% 15%
16
477r
40
*791?
*84
*71
721? *71
100i2 10034 *103
*120
130
*118
*15
16
*15
*75
100
*80
*4934 5078
51
1041? 10412 *101
*52
*96
*65
92
94%
41%
*33
*84
119
92
Lowest
5434 .Tan
9034 Jan
_
_
5
35
__
13234 133
12878 130%
14% 14%
*60
143
10134 1025g
86
19%
25
621?
1181? 1181?
48
*81
2734
14H8 142l4
88I4 90
3934
*80
*2214
2778
....
29% 29%
35
33%
3378 34
105
105
*103% 106 *103% 105
2834 29%
2834 29%
29% 30
*5
*5
6%
6%
6
584
129%
14% 14%
73
§73
1334
*60
.11
3934
*85
*7
*53
*97
2778
94%
*834
3034
3438
127
75
63
*53
514
17
*1412
*105
92
300
101
44
119
120
Miscellaneous
Express.
§249 J’ne
7A Uis-Chalmers
7% J’ly 27
Do prei
27
Aug £
Amalgamated Copper
55% J’ly 13
Amer Agricultural* Chein35
J'ly 26
Do pref
99% Apr ^
American Beet Sugar.
24
J’ly 26
Do pref
89
J’ly 27
American Can
67s J'neju
Do pref
62
j’ly 26
American Car & Foundry
39% J'ly 26
_
321?
37
101
*200
*95
Highest
dams
100
Do pref
3,320 American Cotton Oil
Do pref
15 American Express
200 American Hide & Leather
900
I)o pref
900 American Ice
Securities..
3,200 American Linseed
Do pref
1.200
2,400 American Locomotive..
Do pref
600
500 American Malt
Corp
100
Do pref
‘
700 Amer Smelters Sec
pref Ii
110,380 Amer Smelt.ng& Refining
700
Do pref
American Snuff.
Do pref
500 Amer Steel Found
(new)
2,180 American Sugar Refining
100
Do pref
4,795 American Teleph & Tel
eg
700 American Tobac (new)
,pf
800 American Woolen.
778
Do pref
6,100 dAnacondaCoDDer Par$25
400 iJethlehem Steel._
1,200 D
Do pref
1,220 Brooklyn Union Gas.
180 Brunswick Term &
Ry Se”
400 Butterick Co
5,900 ( Central Leather..
400
Do pref
3,400 Colorado Fuel & Iron
750 Col & Hock Coal & Iron
21%
13%
28 0
1283s
1378
*53
131
10
30%
34
3434
1037g 104
2834 29%
6
534
331? 34l2
*103
104
28
28l2
287g
6*2
6
6
72%
$160
31
*200
*95
44
4434
119
*118
120
*115
92
40
*24
49
132
497fi
*834
*29%
85%
6478 68%
102
10234
13234 13334
92
28
94
41
25
*128
834
*2912
119
*115
27
21
*12
32
37
*434
84%
300
101
44%
120
*
104
128
*31
105
*85
*16
*60
33
*92
25
53
130
85%
*200
*95
*4%
i
32
*33
35
112
60
103
260
51?
27
59%
12%
5
35
7,700
8%
6634
4634
21
*434
67% 69%
102% 102%
300
101
92
*27
94
40
*22
937*
130
95s
3034
34%
*2912
2734
39
*22
.
*31
85
1323S 133
92
5
100
3434
9334
834
67"s
473g
34=8
36%
103% 103%
....
1001?
*85
*101
*225
5%
27%
500
300
6634 138.500
43%
500
*110
103
265
32
36
37%
*434
4414 44%
118% 119
132%
12*4
33
....
85
*115
27
22
12%
32%
36%
65%
43
*90
5934
5%
*26%
*19%
12%
9
30
*28
112
*101
*225
5%
27
*19
13
*200
*95
103
240
*4%
66% 69%
102l2 102l2
300
101
44
119
120
*9112
27%
937s
*
*101
5%
27%
20%
*83
64%
43
Lowest
A
*734
28
66
43
100% 100%
3334 34%
*88
933.1
8%
8%
67
6784
4634 46%
91
§240
3234
37%
103%
478
4'8
*3034 35
*84l2 85
66
67*4
65*4 67%
102*2 102*2 *10134 102%
♦200
*95
103
250
13
*32
36
*101
478
31
58%
*412
26l2
20l4
33
36
103
434
111
*101
*225
87g
28
8*4
68% 68%
4634 47
111% 1111? *110
58% 59%
69%
68
46*4
5712
277*
1834
1314
90
8%
45
*109
103
250
5
5
90
67l2
5734
28
Range for Previous
Year (1909
On basis of 100-share lo.s
EXCHANGE
iriuu s trial
*250
*734
9
28
Range Since January 1
NEW YORK STOCK
Week
Shares.
Aug. 12.
*250
65% 66%
44
4334 4334
100% *100% 100%
3334
33% 35
8%
111
67*4
*734
28
*85
83*
6734
4534
*109
....
♦55
♦
90
8%
65%
45*4
67
45I4
834
....
STOCKS
0
the
Friday
Aug. 11.
66%
1001? *100
33
33*8 3334
812
♦65
834
28
63%
*41%
*100
90
*77s
81?
29
65
44
*250
Sales
Thursday
Aug. 10.
*250
8*2
*23*2
29
Wednesday
381
i
>245
125
115
Banks
Brooklyn
Nat City
North Side
A. tor
Bankers* Tr
B’vvay Tr_.
290
150
158
150
305
180
160
90
Lxchaa„e
or
-
360
650
150
Bid
110
Central Tr. 990
Columbia
270
Commercial
115
Com wealth
150
Empire
300
Eqult’ble Tr 455
Farm Lo&T 1700
Fidelity
205
Fulton
290
._
..
340
145
Irust Co’s
N YCUy
Carnegie
....
Ask
120
1010
280
120
310*
465
1740
210
Trust Co’s
Bid
Ask
Guar'ty Tr.
800
815
N
175
180
300
TltleGu* Tr
Guardian Tr
Hudson
Knlckerb'kr
Law T I&Tr
Lincoln Tr.
Manhattan
Mercantile
_
Metro pol’t'n
Mutual
Mut
...
.
170
290
250
140
375
700
260
145
400
740
536
130
AP nee
NY Life&Tr 1100
132%
11211
Trust Co’s
Y
Trust.
Savoy
Standard Tr
Bid
Ask
640
655
105
400
490
335
1350
410
Tr Co of Am
Union Trust
US Mtg& Tr 469
Unit States. 1200
Van Norden
Washington
Westchester
Windsor
375
160
120
500
345
1375
470
1225
230
.....
Irust Co’s
Brooklyn
Brooklyn Tt
Citizens'
Flatbush
Franklin
Hamilton
Aik
410
43)
140
200
210
270
103
500
295
170
300
115
225
225
290
110*
...
_.
Home
Kings Co
L Isl L & Tr
Nassau
....
People’s
130
Bid
Queens Co.
WIiLiamsb %
3T0 "
•ISfl
125’ 1
100
thfS day. (JLess than 100 shares, tEx-rights,
b New stock
c Ex-div and rights, d Now
at auction this week
quoted dollars per share. J
s Ex- stock Tivldead,
11 Banks marked with a paragraph (t* are State banks.
*
on
♦
isait. at btock
Ask
Trust Co s
N YCUy
_
250
150
270
f
People’s
Prosp’ctPk*!
Terminal 1|!
Bid
..
f
|
Jan. 11909, the Exohang*
lYtday
T. STOCK EXCHANGE
| N.Week
binding august 12
August 12
1
Mid
Ask Low
101
101V 1DIV
101
100V
101 >4 102
1021*
Bit. a, Government
S 2b consol registered.dl930
S 2s consol coupon....d!930
D 8 8b registered
fcl918
KJ 8 3s ooupon....
1(1918
D S 3s oon small bonds..A1918
Argentine—Internal 5s of 1909
j Gold 4s of 1904
1964
!
1967
-—1917
Corporate Stock ..1957
New 4 Vs
New 4*28
4*a%
4V<% assessmt
4% Corporate
N
x
bonds....1917
Stock....1957
State—Highway 4s.. 1958
Bo Carolina 4*98 20-40
Tenn new settlement
High
101V
IOpV
102*4
100V 10
96*2
96V
23
95*4
l 9434 Sale
94 Hi
t 937« 94 V 93*4
* 89
89 V 89*4
94*4
96 Hi Sale
M-8 t
City Securities
17 Y City—4^8 recta
I960
4% Corporate Stock. ....1969
4% Corporate Stock ....1958
State and
Low
100*%
101
r
1919
1899
lOiV1 10
J’ne’io’....
J'ne’10
1
i>6*‘
Imperial Japanese Governin't
1926
\ Sterling loan 4 Vs.
(
1926
2d senes 4V«
1931
Sterling loan 4s
Repub of Cuba 6s exten debt
6an Paulo(Brazil) trust 5s
U 8 ot Mexico b t g 6s of
Migh Mo
1933
3s.. 1913
hese are
Nl-N
M-N
M-N
M-N
M-N
M-N
M-N
M-S
J-J
100 >2
97 >4
97 *4
105 Hi
♦103
105 Hi
♦ 103
102 >2
96
100*s
97
97 V
96V 99*4
94V 97 V
axis
of
$5 to &.
pr ices on the b
Sale
Sale
96*4
Week Ending August 12
August 12
Am Dock A imp gu 6a.. 1921
LeA Hud K gengug6s 1920
Leh A Wilks B Coal 5s.. 1912
Con ext guar 4 Va....01910
N Y A Long Br gen g 4s 1941
Cent Pacific
bee So Paoifio Co
CentVermont 1st gu g 4s.«1920
ChasAbav bee Atl Coast Line
Ohea A Ohio gold 6s
al911
Gen funding A impt6s.l929
1st oonsoi g 5s
1939
Registered
100‘s
100*4
96
Registered
96V 100V
105 V
1097g
102V 103 V
105V HO
102 V 104
96 V 100 V
103V
94V
i*0*3V
40
66
96
90V 90V
Atcli T A S Fe—Gen g
Registered
f Adjustment g 48
75
75 AuglO.
97 V
y8**
75V
97 *2 Sale
97
1995
90*4
ft-1995
hl995
ios'v ioe v
..1965
pd recta)..i960
10-year conv g 6s
1917
Debentures 4s Series J.1912
113 V
10U V1U2
108
sale
♦108*
Ati Knox AN See LAN
Atlantic Coast 1st g 4s.7i.1952
Ala Mid 1st gu goW 5s ..1928
Brans A W 1st gu g 4s ..1938
Charles A Sav 1st g 7s.. 1936
B A N coll g 4s
01952
Sav PAW 1st gold 6s..1934
107*1
92
109
96 V
711925
Til 948
711948
BeglBtered
Gold 4s.
”9*6*4
91V Sale
Ttalt A Ohio prior 1 g 8Vs.l 925
*66* Safe*'
69V
Registered
111*2
Pitta J one 1st gold 6S...1922
87*4
P Jun A M Div 1st g 3 Vsl925
89 V Sale
P L E A W Va Sys ref 4sl941
89V 60V
Southw Div 1st g 3 Vs... 1926
711925
Registered
**95*v mm
Cen Ohio R 1st c g4 Vs.. 1930
110V
Cl Lor A W con 1st g 6s 1933
101V
Monon Biv 1st gu g 6s.. 1919
102*4
Ohio Biver BB 1st g 5s. 1936
110*4
General gold 6s
1937
109*8
Pitta Uiev A Tol 1st g 6s 1922
Pitta A West 1st g 4a...1917
Stat 1st By 1st gug4 Vs 1943 J -D
Beech Creek bee NY O A H
Believ A Oar bee Illinois Cent
Bkiyn A Montauk bee Long 1
Bruns A West bee Atl Coast L
Butt&lo N Y A Erie bee Erie ;
107
113
Buffalo BAP gen g 6s...1937
Consol 4 Vs
1957
Ail A West 1st g 4s gu.. 1998
Cl A Mali 1st gu g 5s....1943
Boch A Pitta 1st g 6s... 1921
Consol 1st g 6s
1922
Buff A Susq 1st ret g 4s.ctl951
Bur OBAN BeeOUl&P
(lan So let ext 6s
..1913
3U2d 6s
1913
»
Registered
1913
Carb A Shawn bee 111 Cent
Carolina Cent bee Seab Air L
Carthage A Ad bee N Y C A H
CedBIaPAN
Cen Brancn By
Cent of Ga
103
109
93*2
108
114
118
114 V 116*4
104V
9792 V
107 V
22
92
6*1*4
41
89
J’ne’09
95
J’ne’09
Max’10
J’iJ’lO
91
©IV
21
96
67 V
90
62V
97 V
96*4 J’ly *10
120 Get ’01
&9V Mar’10
i’oOV
66 V
96
89 V
89
89
*«9*V
93
89
89 V 37;
61
89 V 13
89
89V »0V
89VfPr!lu
103
103
103
Mar’10
110 V US V
HI
Alay’10
106 V
112
112
Eeb’oV
Deo’09
Not’09
1st pret income g
1927
Chic A ind C By 1st
«8v^p;oy
Nov’04
100
105
96
103
115
105
J’ly’io
96
J’ly’08
J’ne’10
ii*5** i 17
116V110V
ll6VAPr’l°
108 V
100**6 100 v
103*4
J’ly’io
May’07
72
72
Mar’lO
T
99 V
96
,(
‘
.
J
102 V
100 V
105 V
101*4
M-N
Oct
112 V 118 V
112 V J^elO
113
104 V 106 V 104V J’ly’10 ...J 103V109
108
113
Apr’06 ...J
85 I 26'
83
83
Sale
...
85
81
86
Stamped
5s....pl945 Oct
5s stamped
6s....pl945 OcV
8d pref income g 5b stamped.
2u prei income g
2d pi el income g
8a prei income g
77
79
77
81
*7*6** *8*6*
Apr ’10. ...I
J’ne’101....I
Apr’10....I
Aug'iO ....I
May’io
U
...
Street Railway
Brooklyn Bap Tr g 5s
1945 A.O
1st refund oonv g 4s....2002 J.J
Bk City 1st con 6s.1916.1941 J-J
Bk qUoAS con gn g Ss.1941 M-N
Stamped
Lped guar 4-5s.
Kings Go El 1st
Nassau Elec gu g 4s ....1961
Conn By A List A ref g 4 Vs ’61
Stamped guar 4 Vs
1951
Dot United 1st con g 4 Vs. 1932
Havana Elec consol g 6s. 1952
Inter-Met 0011 4 Vs
1956
Inter Bap T 8-yr conv 6s. 1911
45-year 6s Series A
1952
F-A
F-A
F-A
F-A
J-J
J-J
J-J
J-J
F-A
A-O
M-N
M-N
Internat Trac coll tr 4s..1949 J.J
Manila Elec 1st A coll 6s. 1953 M-S
•No prioe
Apr’10
V J’ne’10
89
95V
87
83
89
85 V
M ay'09
Jan’09
90
Aug’iO
9<#V J’nelU
,113V Feu’06
91V Mar’lo
95
93V
y9 J’ly’10
87
87
Salb
o7 V
86V 91*4 Lee’03
Sale
99V
99
99
104 V
108 V Oct ’09
98
101V1 99 *a J’ne’10
99 V 98 V
98
96 V
101 V Mar’09
98V
ya
JUa>’oy
Mar’lo
105
Il26
J’ne’10
jll4
101
99
106s*
106V
100H&
lli
113
87 V
81
107V
iia” 112’*
ly6J4|
1988
1988
1934
Refunding g 4s
Coll trust Series H 4s ..1910
1U0V 100 V
104*4 105 V
1107s 113
96h»101
83 V
93 V Apr’09
iiov iViv
llOVMay’10
lllVAov’09
106 V 106
J’ly'10
106V1O6 Mar’lo
107 V'107 May’10
iod‘* loov
M A St L 1st gu g 7s..1927
Ohoo Ok A G gen g 5s .01919
Oonsoi gold 5s
1952
Keok A Des M 1st 5s....1923
Jhio st L A N O bee ill Cent
Jhio St L A Pitts bee Penn Co
Ohio St P M A O con 6S...1930
Cons 6s reduced to 3 Va.1930
|Jl09 V iuv
il4V *l*17*v
112*4 112*4
112*4 Mar’10
142 V Feb’02
123 V Apr’09
U7*fc
loov
103V May’09
109 V 110V lloV Apr’10
no v 112
109V
95V
U0Vill3VAug’09
95 V1 95
95 V
*9*4 V *9*9**
’*9*7 *V * 9*7 V
Aug’09
717s
72V 284
“6*6*V * 83 V
76*4 May'10
U3*a JO.ai'10
1*0*3** min
12UVMar’03
111
Nov’05
104
110 V 108
98V
101
123 V
85
83
103
Sale
102
82
Aug'10
83
101V 101V J’ly’10
99 V Mar’09
99
99 V 100
99
99 V
99 V Aug’10
100
84 V 84V Apr’10
80
81
76
Sale
102
101
81V
78 V Salt
100 V Sale
Sale
100
63
80
Aug’lo
76
v6
102 V Mar’10
100 V J’ne’10
80
94
J’ly’10
Apr’10
78
78*4
100 V
100 V
100
loov
67 V Mar’10
68
102
104V
79V 87
101V104
*9*9** i*0*3‘*
99 V103
84
85
80
85 V
76
82
IU2V102V
100V102
80
82 V
93
77
91
83 V
100V104
100
May’06
Friday; latest this week. U Flat. aDue Jan d Due Apr
103V
67V 67V
92
94V
94V
94 V
**9*4 V
*
76V 80 V
U3V114V
May’10....'104
104
....*|108
110
Mar’10
Feb’10
....• 103 V104
I27V 124 V J’ly’10
1 93 Deo’03
128
.
127 V
.
Page.
Met St By gen
Ref g 4s
F-A
A-O
J-D
Col A 9th AV 1st gu g 58.1993
Lex AV A P F1 st gu g 5s 1993
Third Ave BB con gu 4s 2000
Cent Tr Co certfs stmpd...
Third Ave By 1st g 6s.. 1937
N Orl By A Lt gen 4 Vs ..1935
St JosByLtH A P 1st g 6s’37
st Paul City Cab con g 6s. 1937
M-S
.Vl-S
col tr g 6s.l997
2002
BwayA7thAvlstcg5sl943
Tri-City By A Lt 1st s f 6s.l923
Underground of Lon 5s... 1920
4 Vs
Income 6s
Union El (Chic)
99V
86
93 V
iu'y” i*L4*4
102
96V
98*4 Feb’10
88V
88*4
97
J’ly’04
97V J’ly’iO
94 V Jan '101
94
Deo’09
94 V May’10
Street Railway
102
106
107
II106V 106V
109
117 v
72 V Sale
4S..2002
11106
i!105
114*4 J’ly’10
96
Registered...... ......2002
Bur C R A N— 1st g 68.1934
1934
Registered
CR1FAN W 1st gu 68.1921
96V 95V
87
89V
IO!
a8
80*4 Sale
1912
1915
1916
1917
1918
129 V
106 V 108
May’10
100 J’ne IO1
95 VJ My '10
114<V
1917
126
.
Dec *09
106
105
106
105
'106 V t eu’lo
108 V 109 1110
May’10
108
liO V109
J ’ly’08
Registered.
1921
Sinking fund deb 6s
1933
Registered
1933
MUL8A West 1st g6sl921
Ext A Imp s fund g 6s 1929
Ashland Div 1st g 6s..1925
Mich Div 1st g 6s
1924
incomes
1911
Ohio Rock lal A Pac 6s...1917
86V
121
127
lU8*s 113
May’10
IUV iuv!
68*4
110
1921
100 v 102 V
97
100
100*4 102
105
104*S
111
98
04
100V
98
J’ne’10 I”!1 i*u*o*‘ i‘o*6*v
93 V 94
93 Hi ‘ 94
Apr ’10
103
103 V
1U6 V 1U3
J‘ne’10
98
100 V
bale
98V
99
66
103 V Oct 08
85
89
V
87
86V
91V 93*4
91*4
92
lu7 V 108
107 v Mar'10
107
107 J'ne’10
110V
1U6V 108*4
105 V
loo'V
102
V
103*8
102 V J’ly'10
I16V 116*«
llttV May’10
104 V 106
104 V
104 V
May’10
100
.."100 100 V
JNov'uo
100
'100
**89*’
8JV
*y*7V**9*y“
lottVJ’fy’io
'112
1114
io9 V
iuo’*
9*8 V i*0*0*‘
1100*4 J’ly'io
I 82 J’Jy’10
120V 127V 121 J’iy’to
iu7 v
77
75
9*8 V ioOV
82
81
1879-1929
Sinking fund 6s... 1879-1929
Registered.
1879-1929
98 V
86 V
21
luu v
Registered.
93
68V
101V* 100 V Aug’ 10
98V 9a
99
90V
70
j 97*4 May’10
96
1U0 V
95
*9*i** ‘biv
70
7oV
68 V
Ob V
76
Oct '09
Registered
1886-1926
General gold 3 Vs
1987
Registered
.pl987
Sinking fund 6s...1879-1929
MISCELLANEOUS BONDS—Continued on Next
101V 101V
91
110
LaCroase A D 1st 6s....1919
Mineral Point Div 5s....1910
So Minn Div 1st 6s
1910
Wls A Minn Div g 6s
1921
MU A No 1st M L 6s....1910
1st oonsoi 6s
1913
Ohio A Northw cons 7s. ...1916
Extension 4s
1886-1926
Ohio R IA Pao RB
101V J’ne’10
90
89
85
Ohio A Mo RlV Div 6S...1926
Chic A P W 1st g 5s
1921
Dak A Gt So g 6s
1916
Far A Sou assu g 6s
1924
J 4s
M 48
N 4s
O 4s
P 4s
112V 112V
103 V
99
Jan’lu
100
5s.l93d
bee Erie
Registered
General gold 4s
Registered.
110*4 114*4
10U*4
112 V
t
113 V116 V
109V
H6VJJy 10
100 V 101V
105 V
102
ioovJiy’10
J’ly 10
liovnivinv niv
102V 102
1937
Registered
Debenture 6s
li9VMar’04
100*4
BB 1st g 6s..pl945
1945 M-N
1945
6s....pl946
Registered.
87
85
J’bc’IO
100
98*s Chic in A Louisv ref 6s...1947
97 V
Refunding gold 5s
1947
Louisv N A A Ch 1st 6s.l9iu
64V
109 V Clue Ind A Son 60-yr 4s..1956
Cluo MU <& St F term g 6a 1914
General g 4s series A. .*1989
66V
Registered.
*1989
Generalg 3 Va series B.*1989
25-yr deben 4s
1934
Ohio A LSuDlVg6s....l921
65 V
*12*** 112**
9!V°CVU°«
99
99 V
103*4 Sale
bee Mo Pao
Registered
1919
May’10
86 V
85V 87
1949
Sinking fund 4s
yB7s Chicago A Erie
98V
98 V
taeBUR&N
Consol gold 5s
S3
Southwestern Div 4s....1921
Joint bonds bee Great NortU
Debenture 5s
1913
General 4s
1958
Han A St Jos consol 6s..1911
Clue A E ill ref A imp g 4s 1955
1st oonsoi g 6s
1934
General oonsoi 1st 5s.... 1937
104V1*2V
4
93
Sep’09
72
100
122V
Apr’10
127
H2
1934
..1918
Atlautio A Danv bee South By
Austin A N W Bee Sou Pacific
94V
61 98
92VJ’1J’10
Sale
62
22 100
108
98 V Jan ’10
98 £ Feb’10
1st gold 5s.......
SU bp Oca AG gug4s
mj
106 *2
100 V
mvJ’^’io
Sale
96
Apr10 ...':113 V 117
loov
97
100
98
88
92
89
y?V
105
98H>
92*4
92
88 V
74
51! 97 V 101
9M J’ne’10
90 V J’lJ’1°
92
Jan’10
90 V
91
’60V *90**2
£ Conv g 4s...
Conv 4s (full
1913
Series K
Bast Okla Div 1st g 4s.. 1928
Short Line 1st 4s g
1958
8 B e Pres A Ph 1st g 58.1942
loo
Q-F
100V 101V
100
100V
'loo Hi J’ly’io
100
Nebraska Extension 4s. 1927
Stamped
.......
.41995
| Conv 4s issue of 1909...1955
f
98V
126 V
15 120
Aug’10 ....'120V 126
J ’ne’10 ....1107
10SV
110 V 107
108
1949
Iowa Div sink fund 6s..1919
4s. 1995
Registered
\
122
Ohio Burl A o—Deny D 4s 1922
Illinois Div 3 Vs
1949
Ills Div 48
t
12IV Sale
Railway 1st lien 3 Vs...1950
Registered
i»5u
Registered.
110
103
....
121V
121
12 L
Greenbrier By 1st gu g 4s ’40
Chic A Alt RB ref g 3s... 1949
Railroad
j a laoama Cent be* So By
Alaba Midi bee At Coast ldne
Albany A Susa bee Del A Hud
Allegheny Valley bee Penn BB
Alleg A West bee Butt B A P
Ann Arbor 1st g 4s
A1995
I
Convertible 4 Vs (wli is). 1930
Big bandy 1st 4s
1944
Coal Riv By 1st gu 4s ..1946
Craig Valley 1st g 5a....1940
Potts Creek Br 1st 4s.. 1946
R A A Div 1st con g 4a.. 1989
2d consol g 4s
1989
Warm Spr Vai 1st g 6s..1941
101V
100V
J00
96
90“s Sep’09..
1104 7eJ ;ae 08 ..
......1115 Nov’05 ..
i 110 Jan’10 ....'110
102 J’ly’10
102
102
90
100 V
100
106
1939
1992
1992
General gold 4 Vs
bince
Mange or
January l
' Last bale
Ask Low
Mxyh\Mo Low High
Mid
A1987
Registered
94 Hi
67|
Virginia fund debt 2-3S...1991
115*4
115*4
U95
97 V
96*4
67 V
Sale
106
105*4
105*2
102*4 J’ly’10
106
105*4
105 V
102*4 J’ly'10
97 >« Sale
96*4
97V
113 V J’ne’09
!!"! 104" losvJ’Jy'io '**’l
95 Hi 96*4 BS'feJ’iy ;io
90V dan ’10
40” IIIIII 40 Aug’10 ,...(
[ 6s deferred Brown Bros otts.
103
102 V
94V 96V
93*4 95 V
88*e 92 V
101V 104
94
90
103 1101 V
t 96*4 97V 96
t 96*4 97V 96*4
94Si Bale | 94 >2
Price
Friday
Cent of Ga BB—(Lon)
Chatt Div pur mon g 4s. 1951
Mao A Nor Div 1st g 6s. 1946
Mid Ga A AU Div 6s.... 1947
Mobile Div let g 6s
1946
Geu BR A B of Ga ool g 6a 1937
Cent of N J gen’i gold 6s. 1987
Mang*
Week?*
N. Y. STOCK EXCHANGE
;«}«2 January 1
101V J’ne’10
1011, J'iy'io
114^ J’ly’io..
114 V
114 V 115 V 114V J’ly'10....
1926
Foreign Government
Since
101V 102
1926
BONDS
Mange
1
100*4
100 V
101*4
101*4
102 V
114V
114*2
100 V
US Pan Can 10-30 yr 2s.kl93U
!
I'S-a
15*5
Week?*
Mange or
Last bale
Pries
S88 4b
4b coupon
registered
and prUware now all-“*nd interest"—Map*, tor income an* defaulted bonds.
method of quoting bond* was Phong**,
BONDS
Yearly
Exohange—Bond Record, Friday, Weekly and
New York Stock
193*
J-J
J-J
J-J
M-N
J.J
A-O
M-N
J-J
1948
1st g 5s..1945 A-*o
Bys St L 1st g 48.1934 J.J
United
United BBs San Frsf 4s. 1927 A-O
73 V
80
76 J’ly’to
46
J’iy’lo
98 V J’ne’io
98 V 99
96
100
J’ly’10
96
98 V 97
95
Apr 10
63
J’ly’lo
67
65
68
Sale
58
106 V 107 V 106 V J’ly’io
Mai’1C
83 H, 87
98
Nov’OS
97 V
108
l07VDeo’oy
97 J’ne’io
95 V 97
98
Apr’09
100
85
Aug’10
83 V 85
87 V
88
36
68
84
Oct ’08
79
81V 79 V J’ly’10
66 V
69
69
•
•• •
....
....
....
67
75
48
98 V
96
96 V
63
56
82V
64
102
102
99
69 V
08V
L06V108V
67
87
....
96
99
83*’ *86*
13
....
31V
40
79V
*83*
13f 65
Salej
e Due May g Due J’ne ADue J’ly kDue Aug ©Due Oot 9 Due Nov s Option
74
Bale
Aug. la
NOW fork Bond
1910. |
BONDS
Frio*
N. Y. STOCK EXCHANGE
Week Ending August 12
Frida*
Bxa
100
92
Registered
88
92*
S
96
108
Ac
High
J’ly’io
123
127
i*U* ii4*
108*112
88
93*
,
lu6V
Registered
1934 J-J
ind Bl A W 1st pret 4s.1940 A-0
O lud A W 1st pf 6S...U1938
Peo A East 1st con 4s...1940
Income 4s
1990 Apr
8:5
8lev
lev A
A Pitts
Marietta
See Penn
See Penn
Oo Bh
12 i'
66%
J.J
94
F-A
M-N
J-D
71
95
Sale
110 Hi
96
109
93*
94
03
06
96
04*
111* J'ne’10
97*
111*114
May’10
100
Registered
1917
10-yr oonv deb 4s
1916
1st lien equip g 4*s ....1922
1st Aref 48
1943
Alb A Bus conv 3 ‘as
1946
Bens A Saratoga 1st 7s,1921
Del Riv RR Bridge See PaRR
Deny A R Grist oon g 4s. 1936
Consol gold 4‘as..
1936
Improvement gold 6s...1928
1st A refunding 5s......1955
Rio Gr Juno 1st gu g5s.l939
Bio gr So 1st gold 4s
1940
Guaranteed
1940
Bio Gr West 1st g 4s....1939
Mge and col trust 4sA. 1949
Utah Cent 1st gug 4s al917
Dee Moi A Ft D See MAStL
Des Moi Un By 1st g 6s..1917
Det A Mack 1st lien g 48.1995
Gold 4a.
1996
M-S
M-S
J-D
j.j
M-N
A-0
M-N
2d 6s
Hock Val
consol g
93
94
104
92*
92*
104* Mar’lo
101 Aug’lu
90*
»1
101
90* Sale
79
87*
83*
M-N
J.J
6s..1935 A-O
M-N
J-J
M-N
J-J
F-A
F-A
M-N
M-N
A-0
J-D
Feb’08
78
Deo’00
85
Mar’08
92
74
62
*8,
32
Registered
103
EqG LN V 1st oon
g 5s..1032
Gas & Elec Berg Co c g 6s.l049
Gr Rap G LCo 1st g 6s...l916
Hudson Co Gas 1st g os..1040
Kan City (Mo) Gas 1st g 5s 1022
Kings Co El L«fe P g 6s... 1037
Purchase money 6s..k...x007
Ed Ei 11 Bkn 1st oon
g 4b 1939
Lac Gas LolSt L 1st g 6s.sl0l9
1
Ref and ext 1st g 6s
1934
Milwaukee Gas L 1st 4s..l02'i
Newark Con Gas g 6s.... 1946
*
No price
Friday; latest bid
J-J
j.j
F-A
M-S
J-D
F-A
M-N
A-0
A-O
A-O
J -J
DivAterm g 38.1061
Registered
1001
Gold 3 *s..
1961
01
07*
Registered
....1951
Spring Div 1st g 3*s...l961
Western Lines 1st g 4S..1961
92* 97*
103*104*
100
19
Rollev A Car 1st 6e...
Carb A Shaw 1st g 4s.
105
00*
04*
ChieStLANO
Registered
87*
84*
83
84*
106
Meinph Div 1st
97*
01
74
111
Max'Ob
*-F
A-0
M-N
J-D
86
06*100
97
J’ly ’09
95* Sale
94* bale
96
95*
106
118* 122*
j’ne’lu
100
Kentucky Cent
100
Keok A Des Mo
93
103
100* Jan ’10
99* Feb’10
103*
70
71
70
85
70
67*
68n
b5*Feb’07
85*
86
06*
81* 38
Nov’001
8U*
87*
17
67
76*
85
11
83*
86*
North Ohio
70
72
04
83
Aug’10
66% J’ne’10
....
ioi
64
107%
1960
see
89*
....
105* 101* J’ne’10
101
101*
61 * Oct ’01
100
Oct ’09
lOl* 105*
on
101*
101*
97
Mar’lu
07
100
100
J’ly TO
J’ly’io
113* 112
00
90
Mar’lu
101*101* LOi Aug’lo
99
100* 09% Aug’lU
83
00* 91 Apr’10
108*
and asked this week,
a
Due Jan
93
04
ioi * i‘0'3%
97
07
-00
101
110* 1L6
87* 00
LOO* 106
90*101
91
02*
b Due Feb
J’ue’00
89
Apr’10
06*
07*
110
113*
96
06*
104
106*
00
02
09
100*
J’ne’09
96* 101
97* J’ly’iU
97
04*
99*104
96
07
May'07
Apr’00
tt7*May’lO
00
vsr
123
89
00*
* 100*
87* 88*
May’90
•••••
77* Mar'lu
79* Dec’ub
•••««•
77*
77*
89
88*
80
05
98
Feb’10
101 * Got ’WO
100
Nov’OO
95
J’ly’10
93*
115
117* May’10
99
ieo’10
114* May’10
118
Mar’lo
„
116*
116
90
117*117*
90
118
95 May’10
95
108* 108* J’ly To
110
liu
May’10
no
108* J’ly ’10
10* J’ne’lo
19* ‘26
103
103* 103 J’iy’lu
70
60* Aug’ 10
72
05
08
103
106*
69* 77 *
71*
Oct ’00
100
100* 100
100*
J-J
J-J
104
108
100
110* 112*
106*107*
Mar’lo
108*112
105* J’ne’10
I05*i 107
Aug’09
06* 07* Apr’10
114
74
00*103
110* J’ly’10
I06* 106* Mar’10
113*
07*
108* 110*
106*112
lOo* 112*
10* 36
72
63
A-O
4s. 2003 M-N
5s.l941 A-O
07*
J’iy’ub
83
72*
118
Cot ’00
98
71
00
114*110
97* Mar’lo
M-S
J-D
105*108*
96 *a
J’ne’10
07*
115*
1U
113* 100* Oct ’00
106
90
106
96
Nov’U0
03* Mar’lo
102
100
110* 112
96*
«c; 05;
_
n,
cc
Feb’10
93
96
06
112
May’10
100*
09*
03*
104*
Feb’io
99*
100*
06
101*101*
101* Sep’00
10 L
90
03*
101* Feb’10
109
M-S
J-D
120
87*
100*
96
09*
114*
113
125
luo
M-S
J-D
M-S
J-D
*4
J’ne’10
107* Ay:’07
92
Aug,10
04
Sep ’00
03* May’00
80
j’ly’09
99 Aug’10
08*
J.J
Q-J
Q-J
00*
100* Sep’08
95* May’10
00* fceb’U0
90
96
M-N
M-S
A-0
100*101*
08
100*
104
M-S
Gas and Electric Light
NYGELH&P g 5s...1948
Purchase money g 4s...1940
Ed Ei Hi 1st cons
g 6s..1005
N Y do Rich Gas 1st
g 6s. 1921
Paoifio G A Eleo Co Cal G & E
corp unifying & ref 5s 1«37
68.1943
Refunding gold 6s
*1947
Ch G-L <& Cke 1st
gu g 6s 1937
Con G Co of Ch
lstgngSs.’Sb
Ind Nat Gas A Oil 30-yr 6s '36
Mu Fuel Gas 1st gu
g 68.1947
Philadelphia Oo oonv 6s ..19 L0
Syracuse Lighting 1st g 6s.’61
Trenton G A El 1st g 6s..1940
Union Eleo LA P lstg6s. 1982
Westchester Light? g g 5 s. I960
.
dDue Apr
06
99
J-D
J-J
F-A
F-A
J-J
j.j
J.J
j.j
J-J
F-A
J-D
M-S
J-D
J-D
J-D
J-D
A-O
J-J
M-S
M-S
A-0
103* 107*
112
06
07*
100*100*
OCt’06
Mar’10
Deo’08
03*
06
Next Page*
Peo Gas <b g 1st oon g
....
116
100*100* 100*
1940 J-J
g
g
1941
Leh V Coal Co 1st
gu g 6s. 1933
Leh A N X 1st guar
g 4s.. 1946
Registered.
1945
K1CAN 1st pf0s
1914
Gold guar 6s
1914
Leh A Hud R See Cent ot N J
Leh A Wilkeab Sea Cent of
NJ
Leroy A Caney Vai See Mo P
LKiug Dock See Erie
Long Isl’d—1st oon g 5s. £1931
1st oonsol gold 4s
£14131
General gold 4s
1938
Ferry gold 4*s
1922
Gold 4s
:
..1932
Unified gold 4s
1949
Debenture gold 6s
1934
67
96% Sep ’08
....
01
NY&QE1L&P Istoong5sl03u
97
126
LAN
1st
registered...
Lehigh Vai (Pa) cons
Leh V Ter Ry 1st gu
Registered
|100* Mar’101.... 100* 101*
08**101* Mar’lO1.... 101*101*
60* 65*
125
92
87
94* 07*
li 94* 96*
98*100
125 * 128*
136* May’OO
110* 113* 110 J’ly’10
110
gu g 5s..1045 A-O
L Sho A Mich S See N Y Cent
Leh Val N Y 1st gu
g 4*s.l940 J.J +105 *
73*
59*
64* 51 66
109
116* 113* Mar’lo
113*113*
111*112* 111* 111* To 110 115
111*
; 121 Dec’08
120
126
127
127 Mar'lu'
114
114
109* 114 Apr *10’
1U0
103* Oct ’00
98
106
103*103*
103* Jan'lu
98
09
100* 00 J’ly’10
104*
100* Deo’Od
82
80
03
86* 80 J’ne’10;
106
108*May’10
108*108*
105
g 4s...1951
Lake
Erie 5s
A W 1st g 0S..1937
2d gold
1941
106* 106*
09* 00*
Aug’U0
61
81
95* Jan ’lu
114* FeO’lo
112*
124* 130
See C R IAP
Knoxville A Ohio See So By
1U6* 106*
Max’10
120* 124
1951
1961
103*
85
103* Aug’10
108* J’ne’00
10u* J’ne’10
98
Aug’10
100* Oci ’06
08
102
an A Mich
see Toi A O C S
K C Ft S A 61 See St L A S F
KCAMEAB See St LA S F
Kan C A Paciiio See MEAT
Kan City Sou 1st gold 3s..i960 A-0
Registered
1959 A-O
Ref A impt 6s Apr
106*107*
J’ly’io
sal®
112
88*
Mai’lu
04
K&l A A G R See L S A M
106* Mar’10
103
6s.
*1023
1932
1961
St L Sou 1st gu g 4s....1031
Ind
-PA & West He*G C C A St L
Ind 1U A la 1st g 4s
1060
Int A Great Nor 1st g 0S..1919
2d gold 5s
1009
Trust Co certfs.
3d gold 4s
.....1921
Iowa Central 1st gold 6s.. 1038
Gold 4s
....1961
Deo’00
100
g
Gold 3 *a.
87*
81
98
Aug’10
100*
1952 A-0
1065 M-N
4s ...1963 M-N
1963 M-N
St Louis
123*130*
J-D
M-N
A-O
92
86
106 *
1951
1951 A-0
1951 M-S
1952 A-0
Cairo Bridge gold 4s....I960
Louis vDivATerm g3*«.l963
Middle Div reg 5s
1021
Omaha Div 1st g 3s
1951
96*100*
106*J’ly’1U
Sale
1st ref 4s
L N O A Tex gold
120*
1U0
Feb’10
64* Sale
Registered
96*102
05
88
72
117* 123* 119
98
117
120
Apr’10
J’ly’10
113
I0i*
113
07* 101
106*108* 106*J,ly'10
90*104
101*106
114*
Sep ’04
106 *
107*110
112
UlSt'fiLLANfiOlIb BON Dai—Continued
Gas and Electric Light
Atlanta G L Co 1st g 6s...l047
Bkiyn U Gas 1st oon g 6s.l045
Buttaio Gas 1st g 5s
1047
Columbus Gas 1st g 6s.... 1932
Detroit City Gas g 6s
1923
Det Gas Co oon 1st g os...191b
86
04*
94*
08* J’ne’io
123* 125* 125* J’ly 10
132
Apr’00
Istoonsolg 4 *8.1999
Extended 1st g3*s
1st gold 3s
sterling
Coll Trust gold 4s
107*110*
63 * Aug’10
07
Jan '02
110
95
89
74
94
90
98
87*
A-O
.
J’ne’Os
100
-
Registered
109*111*
J’iy’10
107* J’ly’10
98
J’ly’10
102* Feu’03
95
J.J
j.j
J-J
A-O
06
86
Houst E A W Tex See So Pae
Houat A Tex Cen See So Pac Co
I Uinois Central 1st
g 4s. .1951
1 Registered
1951
1st gold 3*8
1961
100
ioi"
••••••
J-J
.....1909 J-J
Col A H V 1st ext g 4s..1948 A-O
Col A Toi 1st ex 4s
1965 F-A
Sep ’09
120
Mar’10
149
Aug’Ol
97* Sals
97
97*
100
101
100 J’ly To
97* 98* 08
98*
91* Sale
91*
91*
121
124* 123* J’ne’lo
J-D
FA
J-D
2d ext gold 6s
1919 M-S
8d ext gold 4 *s
1923 M-S
4th ext gold 6s
1920 A-O
6th ext gold 4s
1928 J-D
NYLE AW 1st g fd 78.1920 M-S
Erie 1st eon g 4s prlor..l996 J-J
Registered
1996 J-J
1st consol gen lien g 4sl996 J.J
Registered
1996 J-J
Penn ooii tr g 4s
1961 F-A
60-year oonv 4* A
1953 A-O
do
Series B.1953 A-0
Butt N It A Erie 1st 7s..1916 J-D
Ohio A fine 1st gold 6s.. 1982 M-N
Ciev A Mahon Vai g 6s. 1938 J-J
Long Dock
116
108
99
118*120
J.J
f^ast of Minn See St P M A M
-Eiast Ten Va A Ga See So Ry
Elgin Jol A East 1st g 5s. 1941 M-N
ElmCortANo See LehA-NY
Erie 1st consol gold 7s....1920 M-S
N Y A Erie 1st ext g 4s 1947 M-N
Coal A RR 1st cur gu 6s. 1922
Dock A imp 1st our 6s.. 1913
N Y A Green L gu g 6s.l946
N Y Bus A W 1st ret 6s.l937
2d gold 4*s
1937
General gold 5s
1940
TerminaTl st gold 6s...l943
Regis 66.000 each...1943
Mid RRoiJS J lstg 08.1910
Wilk A Ea 1st gug 6s. 1942
J ’ne’06
116
107
J-J
ui A
Bet
80—O
Div 1st K 48.1941
iron SRange
oi So
Sol
Lone
Short
SeegNor
Shore
A Atl
1937
6s..Pao
J’ne’10
127
94
116
85*
F-A
F-A
109* J’ne’10
111*112* 112
M-N
J-D
J-D
M-S
A-O
1st 6s.. 1937
1937 A-O
1916 J-J
Registered
109*....
M-N
J-D
J-D
J-D
J-J
Deo’09
Han
A St JoSeeN
See OBAU
ousatonlo
Y N HA B.
09
Del Lack A WesternEssex Ist7s...l9l4
1st consol guar 7s
1916
Registered
1915
1st ref gu g 3 *s
200u
N Y Back AW 1st 0S...1921
Construction 5s
1923
Term A lmprove4s....l923
Warren 1st ref gug 3*s.2000
Del A Uud 1st Pa Div fs.1917
i:8
Registered
100
High, Ra IfOW High
Oct’09
116
...
Range
Since
January 1
or
Last Sale
99* 101* 101* J’ne’10
114 Apr’06
J’iyTO
Sale
Week? s
Range
As/C Lout
114
109
SnR Co Branch 1st g 6s. 1930 A-0
Ltorjgo A So See Oh M A St P
118
Get ’00
r lint A Pere M Site Pere Mar
101 J’ly 10
101
108
Fla OA Penln See Sea Air Line
Fort Si U D Co 1st g 4 *8.1941 J-J
87* Jan ’10
87
87* Ft W A Rio Gr 1st g 4s... 1928 J-J
107
Mar'll'
106
107
i lalHarASA
AssSoPacCo
107 * Dec’0:
1 Yal HA H of18821st 68.1913 A-0
Georgia A Aia See sea A Line
Ga Car A Nor See sea A lane
Georgia Pacitio See So Ry
02* Aug’10
90* 96* Gila VGA Nor See So Pao Co
94* Aug’09
Gouv A Oswegat SmN Y Cent
00
J’ly’10
90
94* Grand Rap A Ind AsePenn RR
80*
89*
89* 96* Gray’s Pt Term See St L S W
91
Oct '07
Gt Nor-0 B & Q coll tr 4s 1921 J.J
96
Dec '09
Registered. A
1921
90 May’10
90
90
St Paul M A Man 4s....1033
106* Feb’io
106* 105*
1st consol gold 0a.
J-J
1933
97
J’ne’10
97
03 *
Registered
1933 j.j
96
96
96
98
Rednoed to gold 4 *s 1933 J-J
109* Sep'00
Registered
1933 J-J
109* Dec’09
Dakota ext gold 6s....1910 M-N
Mont ext 1st gold 4s.. 1037 j.d
125
Nox’09
Registered
1937 J-D
E Minn Nor Div 1st
g 4sl948 A-0
94 J’ly’08
Minn Union 1st g 6s..1022 J-J
Mont C 1st gu g 6s....1937 J-J
89**
89
94 *
Registered.
.....1937 J-J
53
63 * 16
63
67
1st guar gold 6s
1937 J-J
Will A S F 1st gold 6s 1938 J-D
Greenbrier Ry See Ches A O
G6*
06*
65
81* Gull A S11st ref A t g 5s 61952 J-J
A AGtWaco
Dak
8o SeeSee
C MMEAT
A 8t P
alias
Morris A
^es^enn
_
89* 93
53
Rid
106
EvJfeJtad 1st con gug6s..l928 J-J
Erie
leAP
A Pitta
•"
'
Co
Evans'A T H 1st corns 08.1921 J-J
1st general gold 6S......1942
Mt Vernon 1st gold 6a.. 1923
-
il9*'
383
pwci
Frida*
August 12
?:J
104 Hi
92 Hi
Cm 8 A Cl oon 1st g
O C C A 1 consol 7s
1914 J-D
Consol sink fund 7s....1914 J-D
G ener&l consol gold 6s. 1934 J.J
Col Midland 1st g 4s
1947
Coloradj A Sou 1st g4s... 1929
Refund A ext 4*s
1935
Ft W A Den O 1st g 6s..1921
Oolum A Greenv See So Ry
Ool A Hock Val See Hock Val
Col A Toi See Hqpk Vai
Col Conn A Term See N AW
Conn A Pas Rivs 1st g 48.1943
Cuba RR 1st 60-yr 6 g....l952
02*
941*
9*6*
M-N
M-N
OlStliAC consol 6s.. 1920 M-N
£1936
£1936
6s. .1928
103 Hi
86
J-D
J-J
j.j
Januaryj
129* May’09
111* Aug’10
108* J’iyTO
89*
00
104
Registered
1990
8pr A Col Dir 1st g 4s..1940 MS
WWVai Div 1st g4s...1940 J-J
gold 4s
JLMk Love
123
122
122
1111*
107 * 112
80* 82
5°
N. % STOCK EioHANGE
Week ending August 12
Bine*
2
•e
BLINDS
Range
or
Lout Sal*
August 19
Ohio BtP M * o-f Con;
Oh St P A Minn 1
1st 6s 1918
Nor Wisconsin 1st
...1930
St P A 8 City 1st g 6s...1919
1919
Ohio A West Ind gen g 6s gl932
Consol 60-year 4s
1962
Ohio A W Mioh See Pere Marq
ChooO&Gulf AmCRIAP,.
Oin H A D 2d gold 4*08... 1937
Cin D & I lstgu g 6s...1941
C Find A FtWi*tfu4sK.'28
Oln I A W 1st gu g 48.1953
Ind Deo A W 1st g 6S...1936
1st guar gold 6s
..1936
OlStLAO See OOOAStL
Oln 8 A U See O O C St L
Oioarheld A Mah See BR&P
Clev Cm O A St L gen g 4s 1993
Cairo Div 1st gold 4s....1936
Oln WA M Div 1st g 4s. 1991
St L Dir 1st col tr g 48..100O
1st
Wee#*
Range
Bocord—Continued—Page
sDae May
£ Dae J’ly
100* Sale
81* sale
110 111
80
110
81*
110
100* Mar’10
97* J’ly ’09
91
116
100
Sale
01
101* LOO
100
110
04
102* 100
08*....
k Dae Aug
00*103*
87
80
6
4 110
111*
100* 101*
91
116* 118* Mar TO
101
102* May’ll
104* 103 J’iy’lu
102
10l*May’lu
00
04* Aag’09
101
00
08
91
48
Mar’lo
101*
Mar’ll'
02
110
102* 104
102*
100*
118
ioi" 10
100
LUO
10
10
100
100
May’06
Jan ’03
J’ne’lo
gBae Deo
i
Option Sal*
©
ft “
Long Island—(Con)
Guar ret gold 4s
Price
WeeVt
Friday
Range or
August 12
Last Bale
St
Biu
A 8 ft
96
1949 M-S
97
Lou
95
Bklyu <fe Mom 1st g 6S..1911 M-S
1st 6s....
1911
N Y B&M B 1st con g 6a 1935
NYdfcBB late 6a
1927
Nor SliBlstcon ggu5sol932
Louisiana & Ark 1st g 6s. 1927
Louisv <fc .Nasnv gen g 6s. 1930
Gold 6s
1937
Unified gold 4s
1940
Registered
1940
Sink fund gold 6s
1910
Coll trust gold 6s
1931
E H & Nash 1st ft 6s....1919
L.Cin & Lex gold4^s...1931
N O & M 1st gold 6s....1930
N O <fc M 2d gold 6s
1930
Pensacola Div gold6s... 1920
8t L JL>iv 1st gold 6s
1921
2d gold 3s
1980
Atl Knox & Cm div 4s.. 1955
Ati Knox & Nor 1st g 5sl940
Hender Bdge 1ststg6s. 1931
Kentucky Cent gold 4s.. 1987
M-S
A-O
M-S
Q-J
M-S
J-D
M-N
M-N
J-J
J-J
M-S
M-S
M-S
M-N
J-D
M-S
J-J
LAN & M & M 1st g 4*38 1945 ML& N-South M joint 4s. 1962 J-J
N Pla & S 1st gu g 6s. ..1937 P-A
N&CBdgegengu g4*?s 1945 J-J
Pens <te Atl 1st gu g 6s..1921 P-A
8 <fc N Ala con gu g 5s.. 1936 P-A
L <& J efi Bdge Co gu g 4s.. 1945 M-S
LNA&Ch BeeOL&L
\/I ahon Coai Bee L 8 & M S
iu-anhattan Ry consol 4s. 1990 A-0
Registered
1990 A-0
Stmpd tax exempt.. 1990 A-O
If oK’pt «te B V Bee N i' Cent
Ilex Cent cons g 4s
1911 J-J
1st cons inog 3s..
al939 J’ly
2d cons ino g 3s trust recta..
Hex Internet1st con g 4s.l977
Stamped guaranteed... .1977
Ilex North 1st gold 6s....1910
Mich Cent Bee N Y Cent
Mid ot N J
Bee Erie
MU L 8 & W Bee Chic & N W
MU & North AeeChM&StP
Minn & St L 1st gold 7s.. 1927
Pacific Ex 1st gold 6s...1921
South West Ex lstg 7s.1910
1st consol gold 5s
1934
1st and refund gold 4s.. 1949
Des M & Pt X) 1st gu 4s...’35
M-S
M-S
J-D
J-D]
A-0
J-D
M-N
M-S
J-J
1004,
100*6
105
109
97
96
112
J-J
J-J
A-0
M-N
J-D
ft5i
O
98%
106
High Bo, Low High
94*4 100
Nov’06
Nov’OP
112*4 116*4
—
103
J’ly’10
J’ly’JO
Apr’lO
120
124
120
Mar’10
Jan ’09
114
27
NY* Harlem
107
ioiT
io’i*s
98*4
102
97
J’ly’10
May’10
107*4 110*4
114
89
94
95*3
94*3
95
08*&
110*3 110*2
109*3 114
89*u 89*2
90*8
947,
26
76
93’e 98*4
047ft 9978
98*4
98*4
31 *4
May’ lo
96*4
25*3 Apr’09
Mar’10
77
80
Feb’08
98*3
317e
75
77
May’10
100
100
May’10
Jan’07
100 *2 J’ly’io
131
118
131
Mlnn&StLgu See B(J R<& N
5
93
100
98*3 98*3
96*3 100
87*4
82
100
105
00
105
106
113
105
I06*a
107*3 111
100
102*4
09^ yyfift
100
102*p
17
Sew
i± A D Bee N Y N H A H
N J Jane RR
Bee N Y Cent
N Y Bkln A Man Bell Bee L 1
N Y Cent A H Riv g 3 >38.1997
Registered
1997
Deben g 4s
1934
Lake Shore coUg 3 >38...1998
Registered
06
115
121*3
117*3117*8
87
90
108*3108*3
05
06
88*2
88*4
93*4 Sale
80*8
81*4
80*«
Convertible deb g 5s....1911
DolIndulst<fe coll 5s gu..l934
Jontin’taiC lsts
t
gu5sg.l952
lr Riv Goai& C Istg6s..l9ly
eff & Clear C & I lstg os.1926
Ian A H C & C 1st s 1 g 5s. 1951
Nroah Con Collier lstsf5s.’57
finday Creea Co g 5s
1944
;enn Coal gen os
1951
Tenn Div 1st g 6s
al917
Birm Div 1st consol 6s. .1917
Cali O M Co 1st gu g 68.1922
De Bar C<fe 1 Co gu g 6s.1910
ictor Fuel 1st s t 5s
1953
•Iron Coal&Colst g 5s.1949
I
M-S
F-A
FA
F-A
F-A
A-0
J-D
J-J
J-J
J J
J-J
A-0
J-J
J-D
F-A
J-J
M-S
08
70
90
101
77
......
90
100
100
81
68
847ft
06
105
Bo Row
14
78
2
97*2
J-D
A-0
P-A
M-N
J-J
J-J
J-J
J-J
A-O
J-J
J-D
J-D
M-S
M-N
J-J
J-J
A-0
J-J
J-J
J-J
M-S
?-M
-J
1
79*2
98*4
I
.
97*2 Apr’00
j
1
987e J'ne’10
88*2
93
*95*4 *98*2
Aug’lO
....[03
Oct’09
96*4 J’ly’10
....
•-
106*2 HO *4 107
105*2 105
104
102*2
104
....
104
1017ft 102 %
....
86*2 May’ 10 ....M 86*2
J’ne’09
J’ne’09
92
10U
92
88 *3
90
88
i
Jan ’OS
115
125
102
92*4 Sale
93*4 Salt
110
107
100
122
120
107
98*2
ib7“ iio”
J’ly’lO
J’ue’10
102 4 Feb T O
102
85
93 *2
| 06*4
l|
”“•1
m*2 Jan ’09
80
| 987ft 9978
....
oet ’02
105
93
108
91*4
M
Feb’08 ....')
102
Apr’lO
100
90*2
90*2
88*2 Aug'10
92
02*4
92*2
93*4
90
88
92
92
95*4
95*4
00
09
b7
90
90*3
02*i
109
100
Oct ’07
98=8
115
119
99
98
89*2
00
87
Oct ’09
J’ue’06
Jan ’lu
Dec’09
J’ne 08
89
90*2 J’ue’10
09
17
92*3
92
Dec’00
130*u Jan ’09
109*8
108*a
82
85
......
08*4 Salt
Apr’iO
98*4
100
......
90
IOP4 Sale
97*4 8ale
2!
93a«
101*4
Salt
97
116
107
111*4
100*4
97 ** Sale
90
101*4
97*4
97
34
37
97*2
1
Aug’09 l"“iI
97*3
2
97*2
100*4
101
126
124
121
120
...
(
: 123
97*3* 98^ 97*4
97
9o
98 *3
May’10
I
! 126
92
Sale
86*4
i
‘81
Apr’lu1
1
1
95'
100
J’ly’1
05
98
100
123
101 *«
1264
96*2 100
97
97
91
93*4
94 *2 108 *2
87
90**
y
....
•
•••
110
103*8
! 96 *2
1 92 *2
110*a
J-J
110
J-D
104*4 104*8 104*4
102^
99
....
115*8 J’ne’10
117*2 117
99
98*2 101
60*2 74
72*2 72*2
06*2 97**
....
70*4
71
72*2 Feb’l
97
Mar’10
99
Feb’10
89
116
ilar’iu! ••••! 124=^120*
123
May’l
124*4
282
99*4
A-O
116
J’ly’10 ....'
1
Apr’iO
104*4 106
J’ly’10 ...J 04
96*a
104*3
P-A
130*4 135*4
96*2 103*4
1
101 *3 J’ne’Oti
124
92
99*4 102*4
96*4 100 *3
131H131\ 131*8
97
07*2 100*3
Decr’oy,....
J’ne’10!....
90
99
J-D
Q-M
High
82*4
| 79*8
j 97*2
....
!
84 lo
Registered certific’s..l923!Q-F
Nor Ry Cal Bee So Pao
Nor Wis See C St P M * O
Nor * Mont Bee N Y Cent
Ind *W Bee C C C * St L
hio Riv RR Bee Bait * O
97*3
January 1
......
Registered
a2047
St Paal-Dul Div g 4s
19961 J'-D
Dui Short L 1st gu 6s..1916 M-S
C B * (J coil tr 4s Bee Gt Nort
St P & N P gen g 6s....1923 F-A
pao Coast Co 1st g 5s....1946
...
...
107*3 110*4
108*3 110*2
93*3 95*4
..'I 88*4 92*8
101*4 102*4
85
..'! 82
6
..
87*4
87 78
3
87*8
86*8 J’ly’10 ,...!! 8o°8
92
90*4
93
93*4 10, 92
95*4
80=8
81 I 10, 79*3 82*3
79
J’ne’10
78*8 80*2
99 *s Nov’(>9
94
Dec’09
97 *2 J’ly ’10
96*2 J’ne’10
70
75
99
116*ft 118*4
Feb’10
J’ne’10
[
Mario
Apr’lO
Jan’09
•
•
117
110
110
103*« 1035%
06*2 97*s
....
Aug’;0
117
110 *2 110*2
•«
of Missouri Bee Mo Pao
Penn RR 1st real est g 4s. 1923 M-N
Consol gold 5s
1919 M-S
Consol gold 4s
1943 M-N
Convertible g 3*38.
1912 M-N
Convertible g 3 *38..
1915 J -D;
Consol gold 48
1948 M -N;
Aileg Vai gen gug 48... 1942 M-S:
D R R R * Bge 1st gu 4s g.’36 P-A
PhilaBal* W 1st g 4s.. 1043 M-N
Sod Bay * So 1st g 5s... 1024 J - J
UNJ RR & Can gen
M- S
Penn Co—Guar lstg4*38.1921! J-J !
ao
102
103
'109*2
104*4
2,
J’ly’10
....
102*2 1087,
102
Jan’09
102
106
Feb’10 ,;."106
09
bale I 98*4
»9
13! 98*4
95*4 Sale I 95*8
95*4 2311 94 7ft
10178 102 lOl’ft 102 | bl 101=4
90*4
1102*4 Apr’lO ....I 102**
,
103*2
100
102
97
104 7ft
102 *»
j
100 *«
100
on
102
104*8 105
1921'J-J *
Registered
Guar 3*38 coll trust reg. 1937 M-S!
90
Guar 3 *as coll tr ser B...1941 F-A
Tr Co oertif’s gu g 3*38.1916 M-N
95*4
Gu 3*28 tr ctfs C
Gu3*2Str otfsD
103 *8 Dec’00
..1942 J-D
105
Aug’io*
101*a 103*4 Feb’101
90
i 90
'91
*«
103
ib*4
106
103*, 103*4
Aug’io!
91*4' 89Vi'iy’lO'
06*2 96*2May’10
89
94
1944 J-D
Jan ’03
ll)3*« May’10!II”l!io3
Jan’In'
Dec’09
90
00
89*2
063
9l*a
90
90
72
34 T.
97*8
Next Page
Manufacturing St Industrial
96
93
70
i0768 Dec’04
102=8 Apr’06
107
May’97
98
96*2
82 *4
105*3 Dec’06
03
73
07
97 *2
97 *3 Sale 1
1997
St Paul & Dal 1st 6s....1931
2d 5s
1917
1st consol gold4s
1968
Wash Cent 1st g4s
1948
Nor Pao Ter Co 1st g 6s..1933
Since
Ask Low
High
80
I 7y*3
70*3
80*s 79 *2 Atar’lo
General lien goid3s....a2047
X
J’nt’10
68
Fob’07
100=8 102 \ 102*2 J’ly 10
102*2
103*2 J’ne’10
102*2
101
J’ly ’ lo
106
110
Jan’09
LOO
Jan'10
88
98
78*2
Range
^<
AO
1U96A-0
Div’l lstl&geng4s...l944lJ-J
10-25 year conv 4S....L0321 J-D
Pocah C & C Joint48..1041! J-D
CO* T 1st gug 5s
1922! J-J
8010 V * N E 1st gu
g 4s 1989 M-N
North Illinois Bee Chi * N W
North Ohio See L Erie * W
Nor Pao—Prior lien g 4s.. 1997
Registered
Weekfs
Range or
Last Bale
Ore * Cal Bee So Pao Co
Ore Short Line Bee Un Pao
Oswego * Rome See N Y O
93^
83
102
83
104*2
103*2 107
101
100
Aug’09
Aug’lO
•No price Friday; latest bid and asked. aDueJan b
Due Feb
Bin
*
Registered
MISCELL 4NEOUS BONDS—Continued
JJ <fc 1 Co gen s t g os.. 1943
Price
F-A
F-A
J-J
J-J
J-J
A-0
J-O
J-D
M-S
F-A
M-N
A-O
A-O
„
80
87*4
102*3 102*3
>.
J-J
M-S
lstg 3*28
M-N
20-year deb 4s
A-O
Bat C <te stur 1st gu
g 3s. 1989 J-D
N Y Chic & St L 1st g 4s 1937 A-O
Registered
1937 A-O
Debentures 4s
1931 M-N
West Shore 1st 4s
gu...2361 J-J
Registered
.2361 J-J
NY* Greenw Lake Bee Erie
N Y & Mar Bee N Y C <fe Hud
N Y Lack «& W Bee D L & W
N Y L E & W Bee Erie
NY&LongBr Bee Cent of NJ
N Y N H «& H—Conv
6s.. 1948 J-J
Conv deben 3 *38
iy56 J-J
Housatonic R con g 5s..3937 M-N
N H & Derby con
cy 6s.l918 M-N
N i & North See N Y C <fc H
N Y O & W ref 1st
g 4s..pl992 M-S
*6*000 01Uy
01992 M-S
N Y & Put Bee NYC & H
N Y & R B Bee Long Island
N Y S & W Bee Erie
N Y Tex <& M See So Pac Co
Nor <& South 1st g 6s
1941 M-N
Norf & West gen g 6s
1931 M-N
Improvem’t & ext g 6s..1934 F-A
New River lstg6s
1932 A-0
N & W Ry 1st con g 48.1906 A-O
J L & S 1st g 3*38
100*8
81*3
89*4 J’ly ’10
102*4 Mar’10
85*2 84*eJ’ne’10
Coal and Iron
Buft&Susq Iron s i 5s....1932 J-D
Poi
1931
1940
1940
ly51
1952
1929
Registered
©
00
4sll044
J-J
J-J
M-N
F-A
199s F-A
Registered
82
93*2
80
82*4
110*4 10S*3JMj’10
116*2 May’07
117*4 Mar’06
113
J’ly ’04
!
1997
1928
,1931
Ka A & G R 1st gu C 6s. 1938
Mahon 0*1 RR 1st 5s.. 1934
Pitts & L Erie 2d g 59.al028
Pitts McKA Y 1st
gu 68.1932
2d guar 6s
1934
McKees * B V 1st g 6s 1918
Mich Cent 6s
1931
113
106*3 110
107*a J’ly’10
93*3Sale
87*3 89*4
817ft
98
113
TJ
116*2
76
917* 95
86
87*2
u
J-J
As 1st consol gold 5s
1928 A-O
Jasper Branoh 1st g 6s..1923 J-J
; McM M W A A11st 6s..1917
j-j;
T A P Branch 1st 6s
1917 j-j
Nash Plor A She! Bee L A N
Mat Rys of Mexpr 14*t,s 1957 r.j
Guar gen 4s
1977 A-O
JHatot Mex prior lien 4*38.1926 J-J
1st consol 4s
1951 A-O
03*3
103
107^b
100 »* 105 *3
......
k! ash Chat A St L 1st 7e.l9l3
105
81*3 85*4
83*a 90*4
.
j
181
100*3 101
102*4 1U9
76
81*3
87
01*4
102*4 103 4. i02°gJ’iy’iu
65
67*« 75 May’10
83
87
Mar’lo
8tP<fc S8M cong4intgu’38 J-J
98
Sale
93
98
M S 8 M & A 1st g 4 lnt gu 1926 J-J
97
98*a Jan’io
Minn Un Bee St P M AM
Mo Kan A Tex 1st g 4s...1990 J-D
97 H 98*4 97**
97*4
2d gold 4s......
82
82 *3
82*3 Sale
0x990 P-A
1st ext gold 6s
101
100
100
1944 M-N
1st A refund 4s
80
82
J’ne’10
2004 M-8
Gen s f 4*28
84*s 84*s
19361 J-J
St L Div 1st ref g 4s....2001 A-0
85
88
Apr ’09
Dai A Wa 1st gu g 6s...1940 M-N 100
J’ne’10
105
Kan C A Pao 1st g 4a...1990 P-A
02»s 92 Apr’lO
Mo K A E 1st gu g 6a...1942 A-0 107 109*4 108
108
M K A Ok 1st gu 6a
105*3 103 J’ly’10
1942 M-N
M K ATotT 1stgug68.1942 M-S 102
102*3 102*3 Aug’io
Sher Sh A So 1st gu g 6s. 1943 J-D
109
llo>4 Apr’uy
Tex A Okia 1st gug 6s...1943 M-S
103*4 105 Mar’10
Mo Pacific 1st oou g 6s ...1920 M-N
107*4 107*3-Aug’lO
Trust gold 5s stamped.al917 M-S 100
iv0>3
101*3 100
100 *4 99*% Mar’lo
Registered
al917 M-S
let ooU gold 6s
P-A
101
100
1920
Aug’xO
75
78
77
77
40-year gold loan 4s
1945 M-S
8d 7s extd at 4%
1938 M-N
95*4 Nov’OS
1st A ref conv 5s
I960 M 8
91*2 Sale
91*3
91*3
Cent Br Ry 1st gu g 4s.1919 F-A
68
02*4 92 J’ly’10
Oen Branch U Plstg4s. 1948 J-D
80
847ft 87 *2 May’10
110
Mai ’05
Leroy & C V A L 1st g 6s 1926 J-J
Pao R of Mo 1st ex g 4s. 1938 F-A
99
May’10
2d.extended gold 6s...1938 J-J
111
113
Feb’iO
BtLIrMASgencong5sl931 A-0 106*2 Sale 106*2 *06*2
Gen con stamp gtdg 5s 1931 A-0 106
111
Sep *09
Unified A ref gold 4s.. 1929 J-J
83 *2 81*3
82
Riv & G Div 1st g 4s..1933 M-N
85*4 82*4
84*3
Verdi V 1 A W 1st g 5s. 1926 M-S
102*3 Jan ’lo
MobJ A K Cist cons g 5s. 1653 J-J
98
Dec’06
|lol> A Ohio new gold 6s..1927 J-D 114 116 116
115
let extension gold 6s../il927
110
114*2 117*3 Mar’10
General gold 4s
86
87
1938
87
May’10
Montgom Div 1st g 6s..1947 F-A 103 108 108*3 Mai ”10
St L A Cairo coll g 4s..el930
76
May’08
Guaranteed g 4s
1931
06
96
Jne’10
M A O coU 4s Bee Southern
lohawk & Mai BeeN Y c A H
fonongaiieia Riv Bee BAG
font Cent Bee St P M A M
1organ’s La A T Bee S P Co
iorris A Essex See Dei LA VV
Registered
Debenture g 4s
25-year g 4s
*»--
27*3
100
181
101
95
95
Apr'05
1st g 5s...1927
Og&LCham lstgu4s gl948
Rut-Canad 1st gu g 4s.l049
St Law & A dir
lstg 6s. 1996
2d gold 6s
1996
Utica & Blk Riv gug 4s. 1922
Lake Shore gold
3*38....1997
96*2
110*3 Mar’10
109*3 J’ly’io
89 *2 May’10
104
05
9S*a
114
106*4
89*3
106*4
98
110*s
100
126*4
91
3*33...2000
gu g 4s 1993
Nor & Mont 1st
gu g 5s.l916
reg guar 6s. 1932
R W & O con 1st ext 5s.
A1922
Oswe <fc R 2d gu
g 6s...el915
R W* O T R 1st
gu g 68.1918
Rutland lst con g 4 *38.. 1041
111*4 112
114
g
con
96
97*3
104
105*3
89*2 92
106*4 111
104
9034
*103“
110
^
Y & North
N Y & Pu 1st
110
103
124
*117*4
105*4 110 107*4 Mar’10
114*a 114 J’ne’10
*68*’ 75
71
May’09
91
92*4 94
J’ly’10
116
J’ly 06
Jan ’09
w0t?Lv°8W® let gn g 5s 1942
Moh <fe Mai 1st gu
g 4s..1991
N J Juno R
gu 1st 4s...1986
114
96*8 100*3
«
Friday
August 12
N Y Cent A H
R—(Con)
Mich Cent coU
g 3 *38....1998
Registered
1998
Beech Creek 1st gu g 4s. 1936
Registered
1936
2d gu gold 5s
1936
Beech Cr Ext 1stg 3*3S 51951
Cart A Ad 1st gu
g 4s...1981
Apr’07
112*4 J’ly’10
Apr’lO
97*4
37*4
100
May’09
100*2 Dec’09
107
112
109*4
102
118
N. Y. STOCK EXCHANGE
Week ending August 12
J’ly’10
114
97*b
BONDS
Since
January 1
lxxxxi*
■s
Range
o1
101*8 Deo’08
110>4Nov’06
102 >a 107
liT*
•s-l
|Vql.
3
|
BONUS
N. Y. STOCK EXCHANGE
Week Ending ArousT 12
Record—Continued—Page
1
New York Bond
384
94*2
0
Due
107
100
ib*6"
Allis-Chalmers 1st 5s
1936
Am Ag Chem 1st c 5s
1928
Am Cot Oxi ext 4*28
1915
Am Hide & L 1st s f g 6s.. 1919
Amer Ice Secur deb g 6s..1926
Am Spirits Mfg 1st g 6s.. 1915
Am Thread 1st col tr 4s.. 1919
Am Tobacco 40-yr g 6s.... 1944
4s
1951
detli Steel 1st ext si 6s.. 1926
lent Leather 20-year g 68.1925
Cons 1 Tobacco g 4s
L951
Corn Prod Ref s f g 5s.... 1931
1st 26-year si 6s
...1934
Cuban-Amer Sugar coll tr 6s’18
Distil &ec Cor conv 1st g 5s.'27
E I duPont Powder 4 *28.. 1936
May srDueJ’ne h Dae J’ly fcDae Aug
J-J
A-O
73*< Sale
lOO’s 101
<^-F
94*2
95
M-S
95
96
A-0
M-S
J-J
A-O
F-A
J-J
A-0
F-A
M-N
M-N
"04** *07*'
90
105*2 106
78=8 sale
84*2 Sale
08
Sale
79
A-O
05
A-O
J-D
67*4
82*4
oDueOot
p
93*,
93*4
07
69*2
85
72
10078
93=8
96
67
94 *8
90
105*4
78*8
83*2
97=8
78*4
73*4
101
93 =t
96
Aug’lO
Aug’lO
Aug’16
106
78*4
84*2
98*2
78’,
66
20 100
103 *
16
93*4 98
16
96
102
67
73.
94
96^
90
93,
35 104*4 109 ’
23
76*2 85.
18
83*a
54
97
94=8 Apr’10
94
J’ly’10
96*2 J’ly’10
67
Aug’lO
85
J’ly’10
Dae Nov a Due Deo
89^
102*4
76*a
83.
94
97
93*8
96*a
67
85
/'Flat.
96,
97*
74-
88,*
New York Bond
1910.J
TS
BONDS
1e -S
N. T. STOCK EXCHANGE
Week Ending august 12
>1
Price
Friday
August 12
Sta
Pennsylvania Co—(Con)
Erie* Pittsgug3%8 B.1940
.
Rial\ Ro Low High.
964 J’neTO
96% 99
,
,
104%
K
1
...
May’10
11*8
90*3 100
70
72
101
Bale
105
101
102
107% 107%
....
103*3 107%
98
94
112
....
1004 Dec’05
75 4 Apr’10
100
—-1
1114 A.pr’10
Dec ’u
J’ly’10 ...J
79
102*4
111% 112%
100
101
105
SagTus* H lstgug 4s. 1931
Phil B * W
86
87
89
4J’iy’io
88
....
Cm & St L See Penn Co
Cleve & Tol See B * O
Registered.
Jersey Cent coll
May’10
934 j ’iy '97
114% 112
977e 88
97%
96
97 %
g 4s...1961
See D & H
96
TubGr
& HUl See
Marq
SagJo*
Pere
1st g
4s...1947
t
J-J
St L & Cairo See Mob * duo
8t L & Iron Mount See M P
St L M Br See T RR A of St L
St Louis A S F—Geng 6s.1931
General gold 6s
1931
St L * S F RR oons g 4s..’96l J ■
Gen 16-20 yr os
1927 MSouthw Div 1st g 6s..1947 A-
195 L J •
K O Ft S & M con g 6s..1928 MK C Ft S * M Ry rer g 4s 1936 AK C* M R* B 1st gu 6s.1929 A-
Oz’rk*CliClstgu5s g.1913
ASee Illinois Cent
8t L S W 1st g 4s bd Ctfs.1089 M2d g 4s ino bond otfs...pl989 J ■
Consol gold 4s
1932 JSt Louis So
G ray’s Pt Ter lstgug 6s 1947 J •
St Paul * Dal See Nor Pacino
fit P Minn * Man See Gt Nor
St P * N or Pao See N or Pac
BtP* S’x City See C St P A1 *0
8 A* A
J8 F * N P 1st sink t g 6s.1919 J
8av F & West
See Atl Coast L
Scioto Val * N E See Nor* W
Seaboard A L g 4s stamped ’do A.
Coll tr refund g 6s
1911M-
Passlstgug4s...l943
Adjustment 6s
ol049 FAti-Birm 30-yrlst g 4s.eiU33 MCar Cent 1st con g 4s...1949 J
J
JJ
J-
J
J
J'
PI949 J •
$rl929 M.
Cent Pac 1st ref gu g 4s
Registered
98
1949'F
19491F'
gold 3%s.. AT920 J
Through St L 1st
112
•
43
J’ly’10 ...J
J’ly’iu
J
J’ne’10
89
•
S & N Ala
•
•
•
112
100
97
95
95
97%
97%
89
94
120
Apr’10
4 106
J’ly’10
88
Mar’io
90
'85 4 Sale 86 4
85%
99
loo 4 Apr’10
80 4 Sale
80*4
794
115
J’ly’10
114%
7 i
Sale
774
764
95
1004 Dec 'Uo
96=8
964 J’ne’10
•
m
ti
.
....
J-J
J-J
J-J
M-N
M-S
105
*7*2
J-J
J- J
J-J
J-J
A-0
M-N
M-N
M-S
M-S
M-S
M-N
96%
-
2
J
72 4 28
1014 Apr ’07 ....!
...
Sale
97
88
93%
80%
82
72%
79%
1929
.1929
Registered
Oct ’Ub
88%
110%
109
102
824 Sale
814
99 4
69 4
994
70
79
82
93
90
14
J’ly’iu
99
!
|
70
69%
!
44
r’“’*
1
100
100
100
....
....
90
Sale
964
954
sale
95 4
97
87
83 4
gu 4s ’54 A87% 91
GH.&SAM APl8t58..1931 M
1064 Sale
Gila VG&N 1stgug58.1924 MHous E & W T 1st g 58.1933 M1014
1st guar os red
1033lM1014 106%
H & T C 1st g 5s int gu..l937
J ■
109*3 110
Consol g 6s int guar.,.1912!A
1084 110
Gen gold 4s int guar.,192l! A
92
94
Waco * N W div 1st g 6s ’30
110
j VI
A & N W 1st gu
g 5s
1941 J
100
Morgan’s La & T 1st 7s.1918 A
1st gold 6s
1920 J
107
No of Cal guar g 6s
1938 A.
Ore & Cai 1st guar
g 6s.1927 J ■
100
So Pac of Cal—6s E & P.1912 A.
101
102%
1st gold 6s
1912 A'
101
102%
1st con guar g os
1937 M1074
SPacofN Mexist g6s..1911' J1004
100*3
So Pac Coast 1st gu 48
g. 1937 J<
93
84
Tex*NOSabDivlstg6s.l912
M1014
Con gold 5s
1943 J ■ J1 100
..
10
89
<
’98 4
86
76%
87
91%
103
95
90
380
36
92% 106%
94% 97%
97
97
2
87% 89%
91% 94
1 103% 106%
96
....
87 4
92
80
91
100%
’
90
894
90
69%
8534
100%100%
104
104%
,104
104%
106
106
....
89
99
103
....
1014
1024 106
81*3
103%108
<
....
1064
100
105%
103
105
104
1034
...JT09*3 110%
ll
92
I 92
98%
119% 119%
....
ifi
1
;:.ji
116
112
100
Ry
109
103 *3
108% 109
AugTO
60%
J•J
98
F-A
J-J
A-O
105
105
65
A-O
F-A
J -D
F-A
J-J
J-D
J-D
85
70
81
85%
102
103
104% sale
Sale
oait>
113% 114
109
92
103
82
1041
1141
116
loo
Am Telep & Tel coil tr 4s 1929 J-J
Convertible 4s
1936 M-S
Mich State Telep 1st 5s ..1924 F-A
100
1
1
1
101
90
102
N
I™-
101
1::::
101% 102%
'■•••••
101
••••••
YTelep 1st*gens f 4*38.’39 M-N
Pac Tel* Tel ist 6s
1937
West Union col tr cur os.1938
Fd and real est g 4*3S...1950
Conv 4s, Series A
1936
J-J
J-J
M-N
M-N
107%
Mai’iu
91
107% 107 %
115*3
1 109
9
97
109
98 *3
109%
..
....
70
Aug’lu
112
104
....
106
70
_nl
i
93
88
Apr’iu
May’lU
71%
71%
84% May’lO
89
1U3
86
99%
104%
90%
94%
93 %
92
88
1
100%
iuo% 47 99%
98%
104% 208 101
95%
96
50
95
95
95
3 94%
115
J’ly'lO
113%
109
Aug’lU
108%
91%
4
I
91
92
99
104
J’lyTO
Jan’09
....
....
110% LOS
J’ly TO
95
10 7*3
b8*s 99
1UO
86
99
100
85
90
Sale
81%
Sale
6
4*a
6%
82%
83*3
61*3
lod
83
75
90
36
35
do
109
113%
94%
96
105
108
I
1
94%
4 107
98
....
J’lyTO.... 86
J’ne’iu!....
MarTu1....
64%
J’ly’lu
100
90
232
66%
105
Deo’uJ:
Apr’lo!....
86
102
90
77%
1U7%
76%
21
20
4
4
11%
12%
88%
82%
90%
86%
<1
73
Aug’10
OO
98%
113%
103%
75
90
33
33
Jan T01
MayTO;
83%; 60
7i*aFeb’10|
84
98%
98%
117
96
108
Aug’lO
5% J’lyTO
6%
6%
88%
82%
102
1UL%
116%
il
Nov’08
sale
81
fcli%
91'
106
100
....
Apr’lU
*68% '77"
90
71%
83%
87%
J’ne’10
J’ne’lU
Oct ’u9
95
96
64% Sale
112%
sep’U9
MayTO
90
52%
64
73 *3 Apr'10
08% 74%
100% Nov’i/9
110
J'ue'10
1*109% 110%
Mar TO
92
....II 90% 92
34
Feb’07
Feb’io' ....104%
103
loL
101
104%
78%
sale
77
93
100
78%
99
Dec’08
92
Sale
91
92
90
90%
90
J’ne’10
101
102
JanTO ....1104
J’ne’10
l| 99
104%
104
102
77
87%
90
90
95
94
ii
ll
88% 90%
J
3>ill
Telegraph and Telephone
j....
105 *3
11
107% Dec’09
104
35
4
104
....
92 *3
I
20-year equip s f 5s ...1922 J-J
Wilkes * East See Erie
Wii * Sioux F See St P M & M
WisCeut 5u-yr 1st gen 4s 1949 J-J
Sup* Duuiiv* term lst4s’36 M-N
70
103
94
105
95
1U8
107%
102
91
..
94% Mar To
93%
83
72
82
100 % Sale
96
95
97*3
109% 106
109
1U0
9i38
86
105
Sep ’09
106% Nov’04
J-D
A-0
J-J
J-J
....
100
105% 1U6%
..
109
J-D
g 5s...l926'A-0
Wheel Div 1st gold 5s..1928 J-J
Exten* Imp gold os...1930 F-A
RR 1st consol 4s...«
1949 M-S
io3% ius%
6
115
97*3
il3$
..
106 % Sep ’Ob
107% 107% Apr’lU
,..<<1943 Nov
Wheel’g & L E 1st
II
..
Deo’09
Feb TO
106
108
1*1 f%
110
Oct’UU
160% May’lu
103
114%
106% 106%
J’iy’lo
107
91
104
106
109
106
Oct ’08
108*3 Dec’06
107% Dec’09
105% J’ly 10
86
Mar
1943 A-0
See South
87
113% 114%
115% Apr’uo
82
Nov’06
106 % Apr TO
105% May’lU
97*3
May’iU
1939|M-N
gold 4s
J’ne’06
75
102
112
....
Income os
West No Car
92
109
1939; J - J
1st lien equip s fdg 5s..1921 M-S
1st lien 50 yr g term 4S.19541 J * J
1st ref and ext g 4s ....1956 J-J
Det & Ch Ext 1st g 6s..
19411J • J
Des Mom Div 1st g 4s..1939 J-J
Om Div 1st g 3*as
1941 A-O
Tol & Ch Div 1st g 4s... 1941 M-S
Wab Pitts Term 1st g 4s. 1954 J-D
Trust Co certfs
2d gold 4s
1954 J-D
Trust Co certis
Warren see Dei Lac A West
Wasn Cent See N or Pao
Wash O & W See Southern
Wash Term! 1st gu 3 *38.. 1945 F-A
W est Maryland 1st g 4s... 1952! A- O
Gen * conv g 4s
1952 A-O
Trust Co certfs
I
W Va Cent * P 1st g 6s 191l| J - J
WestN Y& Pa 1st g 6s..1937 J-J
Gen
92%
90%
110
80%
...
Sep ’08
Oct '09
81%
85%
J’ne’O.i
Feu’lu
110
Ang’10
106
Feb” u
05
Nov’09
111% 111 *s Aug’ 10
114
114% Feu TO
103 *3 106
1939 F-A
Debenture series B
1
73
106
...
109
F-A
J-J
Vandalia
consol g 4s ....1955
Cruz*Pistgu4%sl934
Wabash
1st6bgold 5s
2d gold
108
1U9
Utah* Nor gold 6s.. 1926 J.J
Uni N J RR * C Co See Pa RR
Utah Central See Rio Gr Wes
U tah * North See Un Pacilio
Utica & Black R see N Y Cent
era
83%
J’ly ’in
J’ly’10
103
Ver Val ind * VV see Mo P
Virginia Mid See South Ry
Va* South w’t 1st gu 5s.2003 J-J
1st cons 5o-year 6s
1958 A-0
81
104
46
1
85%
J-J
A-O
1928
Guar reiund 4s
May’09
74%
11
Ore Ry * Nav con
g 4s. 1946;
Ore Short Line
1stg 6s.. 1922
1st consol g 5s.........1946
78%
Riga TV0 Low High
94
225
93% 96%
105
25 103% 111%
111
105
67
A-O
J -D
J-D
1st refund g 4s g os 1952 A-O
Un Pac RR * 1 gr g 4s ...1947 J-J
Registered
1947 J.J
20-yr conv 4s
1927 J-J
1st * ref 48
#2008 M-S
114
72 4
95
84%
984
85
117%
76% 82%
27|
...J
Since
January 1
111% 110
110
100
1945 J - J
Gen refund s I g as
1953
St L M Bge Ter gu g 6s. 1930
Tex & N O See So Pao Co
Tex* Pao 1st gold 5s
2000
2d gold ino 5s
^2000
La Div B L 1st g 6s
1931
W Min W * N W 1st gu 6s ’30
Tol 400 1st g 6s
1935
Western Div 1st g 6s...1935
General gold 5s
1935
Kan * M 1st gu g 4s....1990
Tol P * VV 1st gold 4s....1917
Tol St L* W pr lien
g 3 *38.1925
60-year gold 4s
1950
Coll tr 4s g Ser A
1917
Tor Ham * Bull 1st
g 4b./i1046
J 100% 100%
88
83
108%
91%
90
90
84
74'
..
"974
90
80
4 Sale
1 105
.
...J
m m
88 4
124
120
105% 106
73%
85%
107*3 106
83*3 87*3 86
See LAN
Ulster * Del 1st con
■
Gold4s(CentPacooll).PI949
Registered
20-year conv 4s
86 %
• •
•
...
Rensselaer * Sar
Rich * Dan See South Ry
Rich * Meek See Southern
Rio Gr West See Den & Rio Gr
Roch * Pitts See B K & P
Rome Wat* Og N'e<jNYCeut
Rutland See N Y Cent
Fla Cen & Pen 1st g 6s.l91S
1st land gr ext g 6s...1930
Consol gold 6s
1943
Ga* AlaRy 1st con 6s 01946
Ga Car * No lstgug 5s 1929
Seab * Roa 1st 5s
1926
Slier Slir * So See M K & T
8ii Sp uca * U See Atl Coast L
Southern Pacilio Co—
90
110
.....
1936 M-N 4-105%
stamped
Law
93%
104%
Sale
85 *3
105
Range
5.0
A-0
con
1997
Refunding g 4s
J-J
J-J
J-J
Ier
Xi 6s....1894-1944
1st g 4*38..1939 A-O
1stA ol St
gold
F-A
1
tv
J-J
ASH'
93% Sale
74
85
105
Is
Last sale
104*3 Sale
102*3
Spokane Intermit 1stg 5s 1955 J-*
Ft W * Ch See Penn Co
McKees * Y &e«N Y Ceu
Pitts Sli * L E 1st g 6s... 1940
1st consol gold 6s
1943
Pitts & West See B * O
I) eading Co gen g 4s
1997
Mort guar
Guar
J-J
J*J
J-J
A-0
M-S
WO* W 1st cy gu 4s..1924 F-A
WestN C 1st con g 6s..1914 J-J
See Penn KR
Philippine Ry 1st 30-yr s 14s’37 J.J
Pitts
Pitts
Pitts
Pitts
Mortgage gold 4s
112
-
Week’s
Range or
Friday
August >2
Rich & Dan con g 6s
1915
Deb 5s stamped
1927
Rich & Meek 1st g 4s...1948
So Car & Ga 1st g 6s....1919
Virginia Mid ser C 6s...1910
series D 4-5s
1921
Series E 5s
1926
General 5s
1936
75%
101
105
101
98
94
111*3 112
....
Feb’10
109
....
....
lll7a J’ue’10
112
109
•••
•
■
Price
Siu
1U5V, 106
105% 105%
....
106 7e 1074 Jan’10
107 % 103 4 J’ly’iu
106
112 4 .J’ne’05
98
Mar’10
94
J’ly’10
103
O
co*-*
Southern—1st
Oct ’08
107
109
,
so
So Pac RR 1st ref 4s
1955
con g 5s. ...1994
Registered
1994
Develop & gen 4s SerA.1956
Mob & duo coii tr g 4s..1938
Mem Div 1st g 44-5s...1996
St Louis div 1st g 4s....1951
Ala Cen R 1st g 6s
1918
Atl & Danv 1st g 4s
1948
2d 4s
1948
Atl & Yad 1st g guar 48.1949
Coi * Greenv 1st 6s
1916
E T Va & Ga Div g 5s..1930
Con 1st gold 68
1956
E Ten reor lien g os
1938
Ga Midland 1st 3s
1946
Ga Pac Ry 1st g 6s
1922
Knox * Ohio 1st g 6s...1925
alob* Bir prior lien g 6s 1946
....
1094 J’iy’09
96
Aug’09
90
May’08
92
Apr’07
984 Apr’04
1044 Oct ’09
1054 riy’io
1054 J’ne’10
.
104
107
j
Jan *05
1104 Jan ’09
90
Senes C
1940
Gr R & I ex 1st gu g 4 %s 1941
Pitts Ft W & O 1st 7s...1912
2d7s
.1912
3d 7s
M912
Pitts Y& Ash 1st con 6s. 1927
PCC & St Lgu4%s A...1940
Senes B guar
1942
Senes C guar
1942
Series D 4s guar
1945
Series E 3% guar g,...1949
Series F 4s guar
1953
C St L & P 1st con g 68.1932
Pensacola & Atl See L * Naan
Peo & East See C C C & St L
Peo * Pek Un 1st g 6s....1921
2a gold 4*38
51921
Pere Marquette—Ret 4s.. 1955
Oh* VV M 5s
1921
Flint* PM g 6s
1920
1st consol gold 58
1939
Pt Huron Div 1st g 6s. 1939
N. Y. STOCK EXCHANGE
Week Ending August 12
110
,
90
91
91
100
104 %
BONDS
Since
January
—
.
Range
Low
Ash
101
103
103
385
4
-
or
Last Sale
98*4
Guar 15-25 year g 4s....1931
Cl * Mar 1st gu g 4%s..l935
Cl & P gen gu g4%sser A.’42
Series B
1942
Series C 3%s
194)-!
Series D 3%s
1950
3*i
Week?t
Range
Record—Concluded—Page
90
100%
sale
95 % 97
Sale
97
96%
93
sale
98
93%
99%
95
96%
96%
97%
93%
101% Sale Il0i%
28
16
90
98
95
96
95
2,
97
|
1;
100% 387
95
97
i
AUG. 13
96%
97%
93%
101%
93
106%
99
90
99%
100%
Ill 93% 97%
45' 100% 102*4
MISCELLANEOUS BON US—Concluded.
Manufacturing & Industrial
Gen Eleotric deb g 3%s..l942
10-yrg deb 5s
1917
Int Paper Co 1st con g 6s.1918
Consol conv s f g 5s
1935
Int St Pump 1st 8 f 5s....1929
Lackaw Steel 1st g 5s.. .1923
Nat Enam & Stpg ist 5s..I92y
N Y Air Brake 1st conv 6s ’28
Ry Steel Spgs 1st s f 6s...192 l
Manufacturing & Industrial
F-A
J-D
F-A
J-J
M-S
AO
J-D
M-N
J-J
Republ&S lst*ooltr5s.l934 A-O
Union Bag & P 1st si 5s..1930 J-J
Stamped
U S Death Co s f deb g6s.. 1913
U S Realty & I conv deb g 6s ’24
U S Red* Ref 1st sig 6s. 1931
U S Rubber 10-yr coll tr 6s.T8
U s steel
Corp—j coup .<<1963
Sf 10-60 yr os.
( reg ..<<1963
No price Friday; latest bid
M-N
J-J
J-J
J-D
M-N
M-N
80
135
100
81
138
101
82%
92
97
95
82
Jan TO
133
100
86
J’lyTO
Ya-Car Cliem 1st 15-yr 5s 1923 J-D
vVestinghouse E & Ms! os *31 J-J
Miscellaneous
101
J’ne’10
Adams Ex coi tr g4s
1948
Armour*Co lstieaiest4 %s’39
Bush Terminal 1st 4s
.1952
Consol 5s
1955
Clue Jc& ct Yard col g 6s. 1915
DetM* Mldgr incomes.. 1911
lustitfor Irrig Wks 4%s 1943
Int Mercan Marine 4%s..l922
int Navigation lstsf 58.1929
92% J’lyTO
97
97
95% MayTO
101% Sale, 100
97
98U 97
102
J’ly’ll
104
104
J’ne’lo
92
93
May’ll90
92% 93
MayTO
104% 105
104% J’ly’ll
85% 89
85% Aug’lC
86
87
86
J’lyTO
102% Sale 102
102 *-
102%
Sale
102%
103
and asked this week,
A-0
J-J
J-J
A-O
M-N
A-O
F-A
Newp Ne Ship & D D 5s <<1990 J-J
N Y Dock 60-yr 1st g 4s..1951 F-A
Providence sec deb 4s....1957
Provident Loan Soc4%s.l921
S Yuba Wat Co con
g 6s..1923
Wash Water Pow 1st 5s.. 1939
102%
103
b Due Feb
M-S
J-L)
<< Due Apr e
Due May
g Due J’ne
S Due J’ly
D9
88
Sale
90
98%
86%
99
93
93
90% Sale
90%
bl
87% J’no 10
97
95 % 105
35
40
95
61% Sale
75%
95
79
98
100
35
01
61%
76
Aug’io
95
96
....
112
101
J’iy’09
J’ly’04
Feb’lo
fcDue Aug oDue Oct pDue Nov
93%
04%
80
98
35
40
96
98
10
66
25
76
83
Dec'09
95
100
90%
87%
97% Mar’10
91% J’ly’' 0
90
May TO
J-J
46
93
85
92
J’ne’lC
Jan’08
35
M-N
J-J
96% 100
Aug’ll
M-S
4
11
4
87
•••••«
90%
fr.
*
»
-
,
•
00
-
•
.
•
•
•
04.
90
• •
•••*♦»
•mmmmm
101
!01
CHICAGO STOCK EXOHAHGE—Stock Record-Daily. Weekly and Yearly
Saturday
Aug. 6.
Sales
HIGHEST AND LOWEST BALE PRICES
STOCKS
rr
Aug. 8.
Aug. 9.
cu7tc*tLuy
Aug. 10.
0/ the
Week
Friday
Aug. 12.
Thursday
Aug. 11.
Range Jar Previous Year
(1909)
Range for Year 1910
CHICAGO* STOCK
EXCHANGE
Shares
Kai'roads
♦175
185
♦170
♦812
♦4
16
10
6
♦812
♦4
8
8
66I4
66l4
*212
♦67
♦18
60
♦15
♦56
*612
*40
*6
*60
*15
*812
*4
2%
*
♦56
7
♦40
♦
212
234
25
80
20
60
18
60
60
7
45
♦67
♦18
♦55
♦15
70
16
10
6
185
*170
*6
♦6
♦60
♦15
70‘
*212
♦
*170
185
*21 ?
♦2l2
*2l2
♦6
♦60
♦15
185
70*
*6212
70“
16
10
6
*15
16
10
6
4
25
80
19
60
18
60
60
*8l2
*4
212
212
25
80
20
60
18
60
60
7
45
2%
Mch’10
Sale 185
Sale ll2
July’10
Sale 4
July’10
70
70
70
16
161?
1634
Sate 9
July’10
Sale 5
July’10
*
8l4
6712
8%
8I4
812
68
68
6734 6734
*240
250
*240
250
*240
250
Last Sale
130
*128
130
*128
*80
SO
80
80
80
*107
*107
109
109
*107
133
133
132l4 13214 *13314 134
Last Sale
Last Sale
*31
35
35
3314 3314 *33
*59
61
60
*55
60
59
47
47
*48
*48
50
50
Last Sale
*1
*1
Hfi
1%
3
3
Last Sale
*2
*2
35
36
35
36i4 36i4
36%
*117
118
*115
116
*117
118
Last Sale
*141
Last Sale
*141
144
144
111
111
111
111
11034 111
Last Sale
14
14
Last Sale
89
89
8912 *8934 90
89i2
59
5910 6012
59
5812 60
*43
45
Last Sale
45
*43
*
*
50
51
50
50
951o
95
*88l4 90
*8814 90
Last Sale
*
*
Last Sale
21
21
*101
*100
102
*100
102
103
*121
123
*121
121
121
122
117
*117
118
II7I4
*11714 120
119
118
118
*117
II8I4 *117
105
106
106l4 IO6I4 1053s 10534
Last Sale
1533s 1533s 154
152l2 152% 153
117
117
11734 U734 117*4 117*4
*18
60
*15
*
*56
7
*40
*67
19
*59
*15
*
*56
lost
*19
62
Last
Last
Last
714
7)4
*40
....
....
Sale 70
100
....
.....
.
....
.
.
,
....
.
.
.
.
Northwestern Elev
100
Do
pref
100
South Side Elevated..100
145 Streets W Stable C L.100
Do
pref
100
712
71?
prel
....
*19
21
*60
62
Sale 16
July’10
June’10
Sale 65
Sate 6112 July’10
714
Do
Rys part ctf "1"
Rys part ctf *2”
Chic Rys part ctl ‘*3"
Chic Rys part ett '4”
2.274 Chicago Subway
100
Kans City Ry & Lt..l00
Do
pref
100
104 Metropol W S Elev.._100
100
Do
pref
100
....
714
Chicago City Kv
100
Chicago & Oak Park..100
166 Chic
664 Chic
May’10
July'10
July’10
Last Saie 40
45
....
4%
4%
47g
4I4
Last Sale 26
25
80
20
60
18
60
00
7
45
*67
*
Last
Last
Last
70
16
Last
Last
—-
69
16
51
9%
5
39
7734
Feb 17
Jan 14
Feb 7
26
72
23
66
Apr 1
May31
65*4 J’ly 5
7
J’ly 28
40
J’ly 26
104
6% J’ne30
62l2 J’ly 26
240
Apr 25
1:6 J’ly 19
82
250
135
15
63
72*2
54*8
Dec
30
15
Jan
10*2 Dec
8 Dec
3*4 Dec
30
Dec
Dec
62
30
78
29*4 Jan
j’lv
86% May
19% Dec
16% Sep
Jan
Nov
59
25
73
61
541
108
Jan
Jan
63
50
29*4 Apr
Feb
97
Jan
13% Jan
47
17
.
Feb
Jan
Hu*? J’ly
45*4 Jan
977s Dec
Jan 3
Jan 3
Jan 10
Jan 6
Jan 15
Jan
6
Mch 30
J’ne2l
J’ne 22
J’ne 24
J’ne2l
J ne22
Jan 3
Jan 6
4
190
1% Oct
6
Oct
3l2 Jan 26
7*2 Jan 7
109
36
16
Moh
180
Mch 7
185
Mch 7
l*2 J’ly 28
4
J’ly 28
67
May 25
14
May 23
8
Mav26
3
May24
2*8 J ne29
16
Mayi8
185
Highest
Lowest
Highest
Lowest
>
Dec
May
May
May
Dec
Dec
Miscellaneous
♦240
♦128
79
107
250
130
79
107
8%
6634
240
♦128
79l2
♦107
240
130
80
109
35
60
50
1%
♦115
3
33
116
♦140
144
3212
90
♦43
45
50
90
*
•
1* 00 100
1%
3
34l4
33l2
11034 111
♦8934
5834
35
60
50
♦31
♦55
♦48
♦1
*2
♦115
116
♦141
111
144
111
8912
5814
5834
8912
5812
45
60
90
♦43
*
*88l4
1
f
♦100
120
117
♦....
105
21
102
120
117
118
15212
♦116l2 118
102% 1021?
♦102
158
152
21
102
125
117
6*4
18"
152
11612 118
10212 102%
160
106
6l4
♦12
*100
*121
117
*11512 119
105l2 *105 105%
♦151
♦155
*
103
*12
18
IO2I4 10212
102l4 10219
*155
160
*102
*6
83g
66i2
812
102
102
102
6%
6%
*80i4
109
*108
....
June’09
June’09
ig
i4
‘35
35
62l4
60
....
....
Apr’10
Nov’09
1
2l2
....
7914
1
....
359
5912
45
5912
9512
96
2%
June’07
Nov’09
1034
104
*121
123
*11714
120
*117
120
10512
106
ll-16Mch’09
154*4
^
155
„
^
10214
„
...
6I4
6l4
Last Sale
Last Sale
18"
_
10212
rights
Masonic Tempie
210 MoCrum.Howell Co _100
Do
200
pref__
Mllw & Chic Brewing..._
Do pref
125 National Biscuit
100
Do
14
100
pref
142 National Carbon
100
Do
100
pref
100
489 People’s Gas L&Coke.lOO
Do
rights
675 Sears-Roe buck com. .100
Do
86
pref
100
100
826 Swift & Co
15 The Quaker Oats Co..100
Do rights.
Do
15
pref
100
465 Unit Box Bd A P Co.100
Do pref
.100
Western Stone
100
....
—wt -m
7*4
15"
100
Commonw’th-Edison. 100
....
52
20"
100
Chic Title & Trust
Do
Aug'10
52
Chicago Telephone
Do
rights
25 Corn Prod Rel Co 00m
Do
do
pref....
100
235 Diamond Match
211 Illinois Brick
100
Apr’10
89l2
89
Apr’09
.
...
1
Inter¬
Week ending Aug. 12.
Period
Friday
Aug. 12.
Bid
Amer Strawb'd 1st 6S.1911 F
Armour & Co 4Hs
1939 J
Aurora Elgin &Chlc 5.1941 A
Cal & So Chic Ry Co
1927 F
<3ass Av & F G (St L) 5s '12 J
Dhlo Board of Trade 4sl927 J
Chicago City Ry 5s
1927 F
J
?hlc Consol Br & Mlt 6s
tJhlc Consol Trac 4 V$s 1939 J
Ohlc Auditorium Ist5sl929 F
Chic Dock Co 1st 4s..1929 A
Chic Jc RR 1st M g 5S.1945 M
Chic No Shore Elec 6S.1912 A
Chic Pne Tool 1st 5s.al921 J
Commonw-Edison
5s. 1943
Chic Edison deb 6s_1913
1st g 5s
July 1926
Debenture 5s____1920
Commonw Elect 5S51943
Jlllnols Tunnel
-
A
-
1st M 5s
Chic Ry 5s
1927
Chic Rys 4*5s series “A”
Chic Rys 4-5s series “B’’
Chic Rys 4-5s series **C”
Chto Rys coll 6s
1913
Chic Rys Fund 6s__1913
Chic Rys Tern Ctfs 1st 5s
Chic R I & P RR 4S..2002
Collat trust g 5s
1913
Chic Telephone 5s____1923
-
A
D
O
-
-
-
-
-
O
-
S
A
-
-
-
A
-
A
M- N
•VI- S
J - L)
>1- S
J
Kan City Ry & Light
Co 5s
90*4
__
1017, Sale
9934
94%
J98
98%
_
_
_
_
100%
Sale
icContl’tal & Comm Nat
^Commercial National..
^Continental National..
10l7g
29
101*8 103%
^
First National
First Nat Englewood,..
Foreman Bros B'k’g Co.
94% Dec *09
Fort Dearborn National
Hibernian B’k’g Ass’n..
Kaspar State Bank.,..
Feb'06
3
96%
J’ne’10
July’10
90% Men 10
98% Aug’10
98
July'10
100% Ap.'lO
66% Aug'08
1007g
100%
100%
..
__
..
vzezmm
_
_
5
20
1
10078
10034
100%
me'id
100% Aug’09
100*4 AUg’ 10
100
80
87*4
84*4
96
101*8
88
95%
75
86
90*? 91
971? 101%
98
98
100% 100*j
innSo
imii
100*4 102%
100% IOOI4
100
100*2
100% 102*4
Dec‘U8
9434 July’ 10
_
100
96
80
16
-
No W G-L & Coke Co 5s 28 Q
.Ogden Gas 5s
1945 d
Pearsons-Taft 5s
1916 J
-
4.403
4.60s Series E
4.80s Series F
Peo Gas L & C 1st 6s_1943
Refunding g 5s._..1947
Chic Gas L&C 1st 5sl937
Consuin Gas 1st 5s_1936
Mut’t Fuel Gas Ist5sl947
M\1 M A M J J M South Side Elev 4Hs_1924 J •
Swift & Co 1st g 5s
1914 J ■
Union El (Loop) 5s
1945 A -
4S.1911 n
United Box Board ool 6s 26
General mtge 6s
J
Western Stone Co 5s.. 1909 A
oonv
M
N
D
8H4
76
188%
93%
.
_
_
79Sale
94%
99
.
_
_
_
81%
81%
.
.
....
•
.
AUg’10
88%
88%
94
94%
99
Apr’ 1 u
100*4
.
.
103
102
4
10
Sale
100%
90
....
92
100
88
114
.
*
-
10034
I
Mch'10
92
4
Aug’10
Apr’10
Nov’04
68
70
70
Apr* 10
•
J
66
60
65 June'1C
O
85*2 July Oi
must be added to all Chicago b ond
-
....
•
---1-
no sales were
80
85
80
76
84
80
88
93*4
9334 96*4
La Salle St National
Live Stock Exch'ge Nat
Monroe National
Nat Bank of Republic
National City
..
National Produce
North Avenue State...
North Side State Sav’gs
North West State.....
People’s Stk Yds State.
Prairie National
Prairie State
Exchange....
Railway
Security
South Chicago Savings.
South Side State
State Bank of Chicago..
Wendell State
id A merican Trust & Savs
Central Trust Oo of III..
Chicago Sav Bk & Tr_._
Chicago Title & Trust..
Citizens Trust <3c Savings
Colonla’ Trust & Savings
wCont & Comm Tr & Sav
rust&Savlngs
Drovers* 1
96%
96*2
»7
Guarantee Trust &
Q8U
Qftl„
92*2
100*4 103%
103
104%
102
102*2
92
100
88
70
65
^
made on this day.
a Due Dec. 31.
Savings
Union Bank of Chicago.
99
96%
99
July’lu
.....
interest
__
101% Dec’09
....
92
100
4
77
98% Mch'10
121*4 Mayt)9
101
103
94*4
May'05
-
97%
.
May’10
10()% Mch'09
96% Mch'10
95
98
.
94%
Mch'09
94
98*2
S
N
N
O
S
J
I)
N
J
J
O
n
_
93
821?
National-
Englewood State
Stock Yards
_
5s 1928
National
Apr'04
Apr’09
96*4 Jan'OJ
66% July’08
101*4
10(j34 Sale
National
Chicago City
Drovers’ Dep
May'07
96
88
75
76
90
Calumet
100
85*2 Aug* 10
96% Sale
3934 Jan
10
48
20
137
Feb ]1
Jan 3
"14212 Jan 21
108% J’ly 27
li4 Jan 26
13i2 J’ly 9
163
Memo
7914 Apr 7
83
J’ly 26
53
J’iy26
43i2 Mch 9
82
127
91
46
1
74
55
1
Feb
Aur
% J ne
145
1
5
40
*4 May
’ May
25l2 J’ly 26
Mavl7
47
110
51 >4 Jan
1
Apr
40
Mcb 17
93
J’ne28
161
121% Jan 11
2234 Jan
1
Apr
2% Nov
Dec
127
42
140
117
107
Jan
Jan
152
Oct
121% J ly
Jan
Jau
Jan
117
38
43
6
60% May26
102% Apr 20
N ov
20
118
Aug 3
J’ly 19
104
112
103
Feb 24
Feb 10
J’ly 26
148
Feb
115
125
120
121
Jan
7
Jan 18
J’ly 1
Mch 30
115*4 Jan
21
82
110
102
3
Jan
Jau
Jan
124
55
101
166*2 Apr 14
109% Jan
100t2 Jan
155
j’ly 27
186
119
b
J’ne22
9
106
101 J’ly lo
fii4 Apr 28
8
Feb i9
May26
J’ne30
1
Mch
169% Dec
12134 Oct
114*4 AUg
Jan
116i2 Aug 8
101 *2 Jan 25
Mch 14
Nov
1197* Aug
*2 Feb
7
J’ne
11914 Sep
130
Sep
108% Dec
977s Jau
118*4 Feb
122
15
Sep
25% Aug
8810 May
130*4 Aug
88% Dec
47
Sep
17% Feb
70*4 Mch
8
.an
Dec
Mch
Jan
Feb 28
Mch 2*
Jan 7
Nov
Jan
Jan
75% Dec
58
Apr
J’ne
2% Apr
Jan
Jan
162
Dec
Dec
Jan
6
3
98% Jan
% Feb
3*4 Mch
105
15*8 Jan
227, Apr
1
15
Feb
25
prices.
Outstand¬
Surplus
ing
and
t
101% Oct'09
J'ne’0)
87
90
85
•
1913
Note.—Accrued
2
High
9934
90*4
103
50
O 1100
10U5g
s
s uoj% 100%
D
VI - N
A - Q
Lake St El—1st 5s...1928 J
J
Income 5s
1925 Feb
Metr W Side El—
1st 4s
1938 F - A
Extension g 4s
1938 J - J
Morris & Co. 4H
1939 J - J
JJorth West El 1st 4s.1911 M - S
Union Pacific
Low
_
9034
101*8
64% Apr
101
139
142*8 Mch
J’ne 6
J’ne u
Aug 11
Feb 4
Slock
Corn Exchange
D rex el State
102
_____
J A n>15s____1928 J -
Knlck’b'ker Ice 1st
High No
9934 Mch’io
t90*4 Sale
NAME
Range
Jot
Year 1910
_
O
J
A
O
D
A
-
F
Last Sale
D
A
-
F
J
F
F
A
J
-
B'ds
Sold
Ask Low
J
D
-
Week’s
Range or
Price
est
126
5
Jan 4
Feb 17
Feb 4
31
56
47
Jan
Jan
100
Jan 11
112
Aug 6
131*4 J’ly 30
86
1% Mch
9% Jan
Mch
Chicago Banks and Trust Companies
BONDS
CHICAGO STOCK
EXCHANGE
7
71*4 Jan
,
June’10
Chicago Bond Record
[;
Feb
Jan a
May 6
Apr 4
84% May 16
_
35
35
72
107
15% Nov
J’ne
_^5‘4 Oct
132
J’ly
81% Dec
112
Sep
778 Jan
13% Jan 10
_
1181? H812
2l4
Mch’OS
144
July'10
111
111*8
138
Feb’10
102% 102i2
6I4
*12
18
82
160
*155
160
*155
Last Sale 6*4
June’10
102
102
*102
102*2
102
6I4
6I4
*12
158
*155
158
805 American Can
100
Do
553
100
pref
2 American Radiator..100
Do
pref
100
54 Amer Shipbuilding...100
Do
15
pref
100
104 Amer Telep & Teleg
Booth (A) & Co
100
Do
pref
100
85 Booth Fisheries com
Do pref
732
16 Cal & Chic Canal & D.100
Chic Brew’tr & Malt’sr
Do pref
381 Chic Pneumatic Tool .100
8%
671g
250
*240
126
July’10
....
13134 13134 *131% 132U
♦31
♦55
♦48
♦1
*2
812
6 734
83S
6734
94
10078
88 ~
70
65
tTarwoll
mpEt
Trust Go
TVnct.
Ai Ka vl
Profit i
t
S40.392
$100,01)0
204,053
500,000
20.000,000 10.000,000
8,000,000 3,733,972
9,000.000 5.209,651
3,000,000 5,215,397
22,020
200,000
377,552
600,000
31,816
200,000
10,000,000 10,534,793
177,944
150,000
500,000
1,000,000
396,273
1,000,000
921,017
1,500,000
125,146
200,000
250,155
1,000.000
452,391
1,250,000
64,726
300,005
2,000,000 1,198,085
353,752
1,500,000
76,395
250,000
73,141
200,000
22,608
60,000
16.207
200,000
93,550
300,000
08,225
250,000
64',4 96
500,000
22,809
250.000
169,421
300,000
85,000
200,000
4,000
200.00U
1,500,000 1,682,896
180,918
250,000
43,024
200,000
7,419
60,000
392,618
3,000,000
866,154
2,000,000
■
Dividend Record
In
1908
In
Pa¬
1909
led
6
10
6
10
An
J-J
%
1)9, 6
inly ‘10, 6
Dec
Aug. 1 1910 See note w
nil
Q-J 1 uly ’10, 2
Began
ul2
8
12
6
8
12
9
10
9H
6
6
12
121
10
10
Prtv ate Ba
8
8
8
8
Q-J
Q-J
Q-J
Q-J
Q-J
Q-M
Q-M
July TO, 2%
July TO. 4
July TO. 1*2
July TO 2%
July TO, 1%
june30T0,3t>
ine 30*10,2%
nk
Q-J
Q-J
July TO.2
July TO, 2
J-J July *10, 6
10
M^ y.’lO V.90. p.1277
10
Q-M ine 30s10 2%
4
Q-b Aug *10.1
8
Q-J JuneJOTO, 2
6
Q-J July 10. 1%
3
Q-J July *10, 1*2
10
Beg. b
10+2
4
8
3
6^ Q-J July *10, 1*4
6
Q-J July TO. 1%
Q-J July *10, 1
Q-J July *10, 2*2
6
....
....
■
•
Lar. Paid
Q-M Jne 30*10 1%
Jan
*08, 2
U* Q-J July *10,1%
6
6
Q-J July *10,2
Beg. ub us Sep t ’09 V. 89, p. 817
11
12
Q-J J ly *10,3
7
8
Q-M June30*10,2
6
6
M-N May *10, 3
6
None Q-M Dec31’08,l%
6
8
Q-J July ’09, 2
7
7
Q-J July TO, 2
6
Q-J julv TO, 1%
6
6
Q-J July TO, 2
4
4
A-O Apr9, TO, 8
8+2
8+2 Q-J July '10,2%
8
d
2
Nose
....
111,068
ri500,000
5,000,000 <1,319,160
6,992
50,000
602.189
600,000
See note to
3,000,000
7H
8
114,207
Q-J July TO. 2
200,000
3
1 600,000
191,039
Q-J July TO, 1%
2FfiOO()lK) 2,964^148
13
Q-M June30*l0, i
lu;654 Incorp orated 1908 V.87 p.1138
200', 000
....
.
_
_
.
*
ntrs
Sav.
1 250 (Mio
1 410 412
5,000^000 8)746)624
62)440
& Savgs
200^000
Illinois Trust A Savings
Kenwood Trust
Lake View Trust&Savgs
Merchants’ Loan&Tr Co
Metropollta nTrust &Sa v
Northern Trust Co
North-Western Tr&Sav
Pullman Trust & Savgs.
Sheridan Tr & Sav Bank
Stockmen’s Trust & Sav
Union Trust Co...
Western Trus; & Savings
West Side Tr&SavBank
Woodlawo TrASavBanK
'
200,000
3,000,000
36,287
5,813,218
750,000
211,316
1,500,000
200,000
600,000
2,271,139
200,000
200,000
1,200,000
1,000,000
200.00C
200.000
K
16 + 4
6
4h
12
6
8
6
8
61,704
200,066
23,013 Beg b
6
28,926
1,162,581
207,424
97,141
44,844
8
6
uu
Q-J
mlv'
8
6
8
Q-J
6
Q-J
J^i
3
4
1*4
1*2
3
1%
July 10,2
July TO, 8
July 10.2
Q-J
J’ly 12 (J 9 V 89,p.141
6
J^l July TO, 3
t8+2 Q-M Julyl2T0,£*
8
Q-J July 10.11*
ua
June
6
10
July TO,
6% QJ July TO,
6
Q-J July TO,
12
Q-J July TO,
6
Q-J July TO,
16 + 4
301Q.2
2
Jluy TO.
■
"V
t June 30 (close of business) for national banks and July 1 (opening of business) for State Institutions*
6 Due June,
k Also 20% in stook.
n Capital and surplus to be Increased,
q Dividends are paid Q-J‘
With extra payments Q-F. s la addition the equivalent of 4 % more came from First Trust & Savings Bank, t Deo. 811909. v In addition the equivalent of 1% o&me from
First Trust & Savings Bank, to Commercial and Continental Nat. banks consolidated under name of Cont. & Comm. Nat. Bank and the Amer, Tr dc Sav. and CQHUA
T?- & Sav. under name of Coat. & Comm. Tr. & Say. Bank. See Y. 90. p. 1590; V. 81, p. 16, 252.814. « Extra dividend.
t No price Friday: latest price this week,
AD a 13
THE CHRONICLE
1910.]
Volume ot Business at Stock Exchanges
Electric Companies
Bid
Ohio Edison Co—See Cht cago
Gr't West Pow 5s ’46.J-J
83
Ask
list
Kings Co El L&P Co 100
Narragan (Prov) El Co.50
NY &Q El L &Pow Co 100
123
87
50
80
85
76
23
50
DAILY, WEEKLY -»ND YEARLY
Railroad.
&c..
Week ending
Monday
Tuesday
Wednesday
Thursday
Friday
.
49,819,400
40,751,900
28,946,300
42,536,450
40
Preferred
--.,---100
United Elec of N J...100
1st g 4s 1949
J-D
Western Power com. 100
Preferred .........100
V. 8.
Bonds.
*64,000
149,000
105,000
92,000
49,000
120,000
*312,000
765,500
1,086,500
1.321.500
1.365.500
1.126.500
*9,563,000
33,060.100
107.055
375,426
548,794
456,789
326,438
480,542
Saturday
State
Bonde.
Bonds.
Par value.
Shares.
Aug. 12 1910.
118
e
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
Stocks.
387
75
80
74
26I2
48
Telegraph and Telephone
Atner Teleg & Cable.100
• Centra! da So Amer..l00
*30,000 Oomm’l Un Tel (N Y). 25
114
75
118
100
110
Ernp & Bay State Tel. 100
65
Franklin
100
Gold & Stock Teles. 100
e Northwestern Teleg.
50
Paoific & Atlantic.... 25
•Pac Telep da Teleg pf .100
Southern da Atlantic.. 25
40
100
105
7H4
e
....
Total
Week ending Aug.
Sales at
New York Stock
9
*30,000
Jan. 1 to Aug. 12.
12.
1910.
1909.
1910.
Exchange.
*579,000
*5,977,500
204,677,150
2,295,044
..
1909.
3 da N Y 1st 6S 1911.J-J
NY da E R Ferry stk.100
1st 5S 1922
M-N
NY&Hob 5s May '46.J-D
Bonds.
*30,000
579,000
5,977,500
Total bonds...
56,586,500
DAILY
*36,000
26,229,000
*292,700
31,999.450
387,603,000
$275,700
25,383,700
851,120,600
$26,752,000
$419,895,150
$876,780,000
487.000
Hob Fy 1st 5s 1946 M-N
N Y & N J 5s 1946
J-J
10th & 23d Sts Ferry. 100
1st mtge 5.3 1919..J-D
9 Union Ferry stook__100
e 1st 53 1 920
M-N
TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
Short-Term Notes
Philadelphia.
Boston.
Week ending
Unlisted
shares.
Listed
shares.
Aug. 12 1910.
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
Total..
Am Clg ser A 4s '11
M S
Ser B 4s Mch 15 '12 M-S
Balt &Ohio -J^s 191f _J-D
Bethleh Steel 6s '14..M-N
Chic & Alton 5s ’13 _M-S
Otn Ham da D 4S 1913.J-J
C C C do St L 5s. June '11
Listed
shares.
Bond
sales.
9,834
33,458
32,219
24,143
17,006
18,034
4,236
21,251
22,107
16,360
13,956
14,028
$18,000
15,000
32,000
11,000
20,000
67,000
134,694
91,938
$163,000
Unlisted
shares.
4,164
25,635
39,076
29,609
19,061
24,342
3,267
6,908
12,587
6,689
5,489
11,265
Bond
sales.
$13,500
34,200
11,600
35,100
35,800
35,500
Hudson Companies—
6s Oct 15 1911
A-0
6s Feb 1 1913
F-A
Interb R T g 6s 1911.M-N
K C Ry&Llght 6s T2.M-S
Minn & St L g 5s
141,887
46,205
Outside Securities
All bond prices
are
now
Ask
15
60
115
20
60
140
101
1st
105
98
Exc
Con 5s 1943—See Stock
B’way Surf 1st 5s gu 1924 102
Cent’l Crosst’n stk __100
1st mtge 6s 1922..M-N / 80
Oen Pk N da E R stk ..100
Chr’t’r dt 10th St stk.. 100
Col da 9th Ave 5s See Stock
1st gold 5s 1932...J-D
95
F-A
/ 35
Eighth Avenue stock. 100
6s
1914
Bid
1st mtge 6s 1910.M-S
2d Income 6s 1915.J-J / 45
Inter-Met—See Stk EXcb ange
lex Av da PavF 5s See Stk Exc
Metropol St Ry—See Stk Exc
Ninth Avenue stock.. 100 155
14
Second Avenue stock.lOo
1st M 5s’09 ext '10..M-N
99*2
Consol 5s 1948..
F-A /
no
f Sixth Avenue stock__100
60
Sou Boulev 5s 1945...J-J
....
88
Exc
/ 50
Tarry W P da M 5s 1928
YkersStRR5s 1946 A-O
75
28th da 29th Sts 5s *96 A-0 / 15
Twenty-third St stk ..100 190
Union Ry 1st 5s 1942.F-A 101
65
Westchest 1st 5s '43 J-J
Brooklyn
Atian Avenue RR—
98
Con 5s g 1931
A-0
B B da WE 5s 1933..A-0
97
145
Brooklyn City Stock..10
Con 5s—Sie Stk Exch ange
97
Bkln Hgtc 1st 5s 1941 A-O
Bkln Queens Co & Sub—
e 1st g 5s '41 op '16.J-J
97
elstcon 5s ’41
Brk C & N 5s 1939.J-J
Kings C El 4s—See Stock
Nassau Elec pref
100
5s 1944
A-O
1st 4s 1951—See Stock
N W’bg da Flat 1st ex 4 Ha
list
list
list
180
18
57
130
85
92
list
80
85
30
215
103
75
101
102
155
list
100
99
98
list
75
95
Exc
60
78
75
95
Exc
op’16 M-N
Bklyn Rap Tran—See Stk
Coney Isl da Bklyn__100
1st cons g 4s 1948..J-J
Con g 4s 1955
J-J
1st 5s 1921
A-O
J C Hob da Paterson—
83
80
100
'1st
Gas Securities
New York
Gent Un Gas 5s 1927 J-J
Con Gas (N Y)—See Stk
e Mutual Gas
100
New Amsterdam Gas—
1st oonsol 5s 1948..J-J
NY&ERUas 1st 5s '44 J-J
Consol 5s 1945
J-J
N Y da Richmond Gas.100
N Y (c WestchesterL’ht’g—
Deb g 5s 1954 guar.J-J
Nor Un 1st 5s 1927..M-N
• Standard Gas com. .100
• Preferred
100
1st 5s 1930
M-N
_
Other Cities
Am Gas da Elec com..
50
50
Preferred
Amer Light & Tract
100
Preferred
...100
Bay State Gas
50
Blugh ton (N Y) Gas Wks
1st g 5s 1938
A-0
Brookfyn Un Gas—SesStk
Buffalo City Gas stk__100
_
99
Exc
153
97
100
90
40
95
99
—
Per sharer
b Basis.
9S12
103
98
55
100*2
101
50
85
102
*42
*40
260
100
106
43
42
270
103
1
93
Exc
4
Exc
93
65
97
104
98
40
75
96
146’
90
135*
74
101
135
35
65
0 Sells on Stk. Ex,; but not votry active
85’
92*9
102*4
100
107
131
98
103
55
85
90
101
94
t Flat
der’g-Hall-Mar,
uew.100
Hoboken Land &
e 5s 1910
Houston OK
Preferred
Hudson Realty
Imp 100
5
27
93
99*8
6
100
93
Preferred
7
40
30
Ingersoll-Rand com.100
100
2414
Exc
5
434
10014
39
"90"
83
240
’4*5’
35
HZ
7
21*2
lib
113
260
21
*&
60
list
Exc
100
75
2U0
*4
95
*11
‘
80
205
5
100
IH4
+1*1*
1*2
44
90
o
2
21*
48
93
23
Pittsburgh Brewing.. 50 *£2278
Preferred
50
4U2 42lz
Pittsburgh Coai—See Stk Exc list
60
65
Pope Mfg Go com
100
Preferred
Pratt da Whitney
Producers Oil
100
pref.100
100
Safety Car Heat da Lt.100
Seneca Min'ng
25
Singer Mfg Co
100
South Iron da S com ..100
Royal Bak Powd com.100
Preferred
100
78
100
140
110
185
103
125
*
Preferred
100
Standard Cordage....100
1st Mg 5s *31 red.A-O
120
102
L05
list
01
Adjust M 5s Apr 1 1931
Standard Coupler com 100
Preferred
...100
Standard Milling Co.. 100
66
Pre’erred
...100
1st 5s 1930
M N
Standard OU of N J
100
Swift do Co—See Boat Stk
1st 5s—S»e Chic Stock
Texas Company
100
e Texas da Pacific Coal 100
Title Ins Co of N Y...100
230
405’
42
100
100
3
*
ids*
40
122
Sale price*
112
140
*9ie
Realty Assoc (Bkiyn)_10U
834
16*2
62*2
8
53
80
110
*2034
_
9258
27
88
10
18
64
35
10 J
list
125
130
250
111
105
ist
136
92
94
11J
110
25U
100
Nat Bank of Cuba._._100
Nat’l Surety
100
Nevada Cons’d Copper 5
Nev-Utah Min & Sm. 10
e New Central Coal... 20
NY Air Brake 6s—See Stk
N Y Biscuit 6s 1911_M-b
e New York Dock....100
e Preferred
100
N Y Mtge da Security. 100
N Y Transportation.
20
Niles-Bem-Pond com.100
N1 pissing Mines
5
Ohio Copper Co.
_lu
Ontario Silver
lou
Otis Elevator com....100
Preferred
100
190
125
160
20
102
100
*6*4
;-2U34
50
Mortgage Bond Co
s
105
40
M-N
100
100
Preferred
Touopah Min (Nevada)
1
81
105
145
L15
195
106
127
95
280
13
23
270
10
20
/16
/3
100
11
42
81
6J1
Exc
Exc
136
100
140
♦8*4
20“
It
85
60S
m
list
139
Ei
Trenton Potteries 00m 100
Preferred, new
100
Trow Directory
Preferred
100
90
BethJ’m Steel Corp—See S tk Ex
Bliss Company com.. 50
Preferred
50 120
Bond da Mtge Guar
100 240
Borden’s Cond Milk. .100 zl'J9
100 103
Preferred
British Col Copper
*412
484
5
Butte Coalition Mining 15 *19
20
Casein Co of Am com. 100
284
2*4
Preferred
100
58
62
125
140
Casualty Co of Amer 100
Cellulo'd Co
100 123
125
2
Cent Fireworks com.. 100
4
Preferred
10
...100
30
Central Foundry
.100
Preferred
100
Deb 6s 1919 op ’01.M-N / 35
40
Chesebrough Mfg Co
100 700
69
72
City Investing Co....100
Preferred
.100 105
115
3 Clahln (H B)
com..100
95
105
e 1st preferred
87
100
92
e 2d preferred ...
88
93
100
Col da Hock Coal&X pf 100
1st g 5s 1917
60
70
J-J
Col tr 6s Oct 1956..J-J
60
60
Consol Car Heating...100
43
46
Consol Rubber 'Tire.. 100
4
3*2
Preferred .........100
19*4
Debenture 4s 1951 A-O
38
42*2
Nominal.
103
36
6
Mononganela R Coal.. 50
Ah meek Mining
25 *180
Alliance Realty
100 120
American Book..
100 152
American Brass
100 117
American Chicle com. 100 215
Preferred
100
97
Am Graphophone com 100
6
Preferred
100
16
Amer Hardware
100 117
Am Malting 6s 1914..J-D
99
Amer Press Assoc’n._10Q
95
Am St Found new—See S tk Ex
6s 1935
99
A-0
Deb 4s 1923
63
F-A
American Surety
210
50
American Thread pref
*4*2
Am Tobacco Co com.. 100 398
Amer Typefders com. 100
38
96
Preferred
..10o
Deb g 6s 1939
98
M-N
Amer writing Paper
2
100
Preferred
100
25
87
1st s f g 5s '19 op ’09 J-J
n
58
45
6
8
62
3*2
96
1950—See Stock Exch ange list
Nat Rys of Mexico—See S t Exc list
North'll Securities Stubs.
105
95
Pitts Bess & LE
50 *32
34
Preferred
50
74
*70
e Railroad Securities Co—
IUC stk tr ctfs ser A 52
85
Seaboard Company—
1st preferred
100
75*2
Com So 2d pref—See Bal c Exc 1131
Seaboard Air Line—
Coll 5s ext May 'll.M-Si
99L
99
West Pac 1st 5s '33..M-S
9234 93*4
price
77g
180
110
e
8-)
Barney & Smith Car. .100
6
list
?319
97
intercontln’t’l Rubber.100
24
internat’t Bank’g Uo.100
90
internat” Mer Mar—See b tk Ex
International
132
Nickel..100
98?8 9914
P ret erred
89
100
9714 9734
1st g 5s 1932
92
A-O
8;i*
93^
6
95
96*," International Salt____10o
47
1st g 5s 1951
A-U
98*4 99*8
International
60
Silver.. 100
9534 96lo
Prelerred
106
100
99?8 100*2
liO
1st 6s 1948
J-D
96
9812 Internat Smelt & Refg 100 135
96
9812 mternat Tlmo Record. 10a 140
Preferred
104
lou
1U038 lUJi
983j Jones & Laughlin Steel Co
98
s
f
1st
g
5s
1939..M-N
96
9714
100
'2% jLackawanna Steel
64.80
e 1st con 5s 195o__.M-b
M.80 4>2%
e Deb os 1915
M-b
89;*4
100
lOllfi
82
9534 9634 Lanston Monotype...100
235
Mtge
Co
9J1"
Lawyers
100
95*2
:25
98*4 Leh & Wlikes-B Coal. 5o
97
99*8 9 4 k e LorUlard (P) pret.._10o J30
25
Madison Sq Garden..100
85
2d 6S 1919
M-N
99
98*
Manhattan
Transit
20
*138
99*4 L00
AMGf&WIndSSL'nes.lOO
Preferred
...100
Col tr g 5s 1959....J
100
list
—m-
...
*
101
list
158
95
105
85
38
Preferred
100
1st g 6s June 1 ’22 J-D
Hecker-J ones-Jewell
MIT
1st 6s 1922
M b
98
28
■Chicago Subway
100
Kansas City Sou 5s Apr
84
7J
15
70
140
Hackensack
Water Co
Ref g 4s *52 op *12..J-J
Hall Signal Co com.. 100
Havana Tobacco C0..IO0
Railroad
14
64&* 65
Exc list
Exc list
31'33
87*4 88
110
140
89
Other Cities
300
132
Buffalo Street Ry—
1st consol 5s 1931..F-A
72
98
Deb 6s 1917
A-O
130
Columbus (O) St Ry__100
Preferred
lou
31
60
Colum Ry con 5s—See Phi
Crosst’wn 1st 6s ’33 J-D
12
50
10334 Indianapolis Gas
74
1st g 5s 1952
76
79
tfConn Ry da Ltg com.100
A-0
Jackson Gas 5s g ’37. A-O 1 88
• Preferred
100
78
SO
e Laclede Gas
1st da ref 4 ^s—See Stk Exc list
100
10134
• Preferred
80
100
Grand Rapids Ry pref .100
8OI4 88
Vladison Gas 6s 1926. A-O 102
,*Loulsv St 5s 1930...J-J 10434 105
Newark Gas 6s 1944._Q-J 128
106
Lynn da Bos 1st 5s '24 J-D 104
95
4 New Or! Rys da Lgt.100
24*4 •>5*o Newark Consol Gas.. 100
60
e Con g 5s 1948
$ Preferred
100
J-D 102
60*4
Gen M g 4 Ha '35—See S tk Ex list
No Hudson L H da Pow—
5s 1938
Pub Serv Corp of N J.100 104
1U8
A-0 110
Pacific Gas da E, com.100
Tr ctfs 2% to 6%perpet
100
97
53'Preferred
100
North Jersey St Ry.100
83 "
55
1st 4s 1948
M-N
74
76* Pat & Pas Gas & Elec. 100 85
• Con g 5s 1949...M-S
100
St Joseph Gas 5s 1937.J-J
91
—
65
85
25
*ai4
*1X16
*734
Guggenheim Explor’n 100
100
Industrial and Miscel
Adams Exp g 4s 1947 J-D t 9214
1st 5s 1947—See Stock
103
105’ Con Gas of N J 5s ’36.J-J
EXC list
Consumers’ L H da Pow—
5s 1938
92
88
J-D
Denver Gas & Elec
100
102
105
Gen g 5s 1949 op-M-N
Elizabeth Gas Lt Co..100
Essex & Hudson Gas. 100
102
Gas da El Bergen Co.. 100
103
•
Gr Rap 1st 5s ’15.F-A
102i2 104
100
S96*4 9712 Hudson Co Gas
Indiana Lighting Co__100
105
104
4s 1958 op
ia '1st
F-A
__
30
85«4
82l4
e
95*
Chic Gt Woom tr ctfs\See Stoc.:
e Preferred tr ctfs-./
list
Chic Peo & St Lr-—
Prior Ilea g4 Hs'30. M-S / 85
Con mtg g 5s 1930..J-J i 50
Income 5s, July 1930.. /...
13*2
8334
96
155
8434
20
n60
10
60
90
100
.....
112
3
g
------
96*2
lo;
74«s
17g
89*2
89
}50
Preferred
_10o
e Gold 4H3 1936.._J-D
Electric Boat....
.100
Preferred
100
100
Empire Steel
Preferred .........100
? Genera*
Chemical
10o
e Preferred
100
Goldfield Consol Mines.lo
Gold Hill Copper
1
Greene-Gananea
20
e
5% notes Oct 1917.A-0
....
United Rys of St L—
Com vot tr ctfs..__100
• Preferred
100
Gen 4s 1934—See Stock
Unit Rys San Fran See Stk
Wash Ry da El Co....100
Preferred
100
4s 1951
J-D
100
200
So Fer 1st 5s 1919... A-O
Third Avenue—See Stock
Rapid Tran St Ry__100
Westlngh’e EI&M 63 1913
71
73
101*9 I02l2
105*2 106 ;
240
104
220
100
48
300
F-A / 95
Steinway 1st 6s 1922..J-J
Ask
1949
wU-N
7014 71*2
So J Gas El da Trac.100 125 ' 130
Gu g 58 1953...M S
96
98
No Hud Oo Ry 6s 14 J-J 102
5s 1928
102
J-J
Ext 5s 1924
98
M-N
Pat City oon 6s ’31-J-D 112
115
2d 6s opt 1914..A-0 100
So Side El (Chic)—See Ch icago (1st
102*2
Syracuse R T 5s *46..M-S 101
Trent P da H 5s 1943.J-D
98
95
85
26
90
list
200
42d da Gr St F’y stk ..100
42d St M da St N Ave.100
Cons Tract of N J..100
1st 5s 1933
J-D
New’k PasRy 5s *30 J-J
4s
15
80
Exc
Dry D E B da B—
Scrip
Street Railways
Corp N J (Con)
Pub Serv
B’y & 7th Ave stk ...100
2d mtge 5s 1914
J-J
Scrip 5s 1914
South Ry g 5s 1913..F-A
Tidewater 6s, 1913
guar
Wabash 4^3 191J...M-N
West Telep&T 53 '12. F-A
“and interest'' except where marked “f/
Bid
Street Railways
New York Ci v
Bleeck St do Fr F stk.100
1st mtge 4s 1950..J-J
’ll.F-A
NYC Lines Eq 5s’10-22
4Hs Jan 1911-1925
N Y N H & H 5s '10-'12
St L da S F4Hs'12op.F-A
5s Mch 1 1913
M-S
$165,700
94
20
53
Diamond Match Co. 100
duPont(EI)deNemPo 100
50"
80
llh
74*8
*1*2
Davb-Daly Copper Co.lu
9
112
60
Ferry Companies
116,641,274
5,804,999
122,237,740
Stocks—No. shares...
Par value
§201,977,150 §534,167,900 $10,494,316,200 $11,204,697,825
*788,700
53,600
*76,850
S39.700
Bank shares, par
2,295,044
Government bonds
State bonds
RR. and misc bonds..
90
Ask
12
Bid
Industrial and Miscel
Crucible Steel
100
e Preferred
100
j
100
Underwood Typew pf 100
Union Typewriter ooml00
1st
preferred
100
2d preferred
...100
United Bk Note Corp. 60
Preferred
50
United Cigar Mfrs....l00
e Preferred
.....100
United Copper
1QU
Preferred
.......100
U S Casualty
100
U S Envelope com .100
Preferred
.100
U S Finishing
100
Preferred
.100
1st g os 1919
J-J
Con g 5s 192 9
.J-J
U S Steel Corporation—
Co! tr s f 5s ’51 opt ’ll
Col tr s f 5s '51 not opt
U S Tit Gu da Indem.,100
•Utah Copper Co—See Stk
Waterbu y Co com
100
...
...
...
Preferred
45
20
99
40
102
100
*40
*50
61
102
6
16
215
63
115
96
107
100
95
114
114
110
EXO
100
Westchester da Bronx Tit
da Mtge Guar
.100, 160
Westlngn'se Air Brake.50 *134
West El da Mfg 5s—S«Stk| Exc
Worthing Pump pref.iool 104
ax-dlv.
y
Ex-rights,
» JNew
170
list'
108
sljcck*
j
BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
SHARE PRICES--NOT PER CENTUM PRICES
Sales
STOCKS
BOSTON wSTOCK
EXCHANGE
of the
Satu 'day
Atii 1.6
*9714
Monday
Tuesday
Aug. 9
Aug. 8
97io
*97% 97%
9S% 98%
9S34
9938 99'% *99
9r-sf
221% *220
221% *218 220
124% 124lo *123
125
124% 125
*9778
*98%
*
205
140
292
*
*
15
*
74
10
*_
*-.
*70
*30%
205
140
125%
*70
*
125
85
*
1251-
15%
*
150
*
*15%
81
81
150
150
186
27
102
140
115
125
125
*
*70
36
140
115
125% 125%
*107%
85
15%
81
81
150%
*
115
150
186
29
104
*
*25%
*421' 44
*100
101
*514
150
150
17
17
11712 II8I2
*117l2 119
132
132%
*27
2734
94
9v%
*8%
*1612
9
17%
*5
6
118
118
132
*27
*139%
118
118
118
118
132%
94%
*9
17
*5
10
17
6
1=139%
99%
16434 166
*93
119
118
*27
94
*9
17%
*5
*142
^ —- -
94%
*834
17%
94%
10
171'
6
124%
*205
139
292
8%
*254
142
8%
254%
255
142
8%
8
255
255
*5
142
838
8%
255
255
44
133.%
70
8
*36
140
140
*111
115
270
Mch’lC
125%
125% 125% *125
Last Sale 107
Aug’ 10
Last Sale 86
Aug’10
Last Sale 204
May’10
....
....
15% 16%
81% 82
150% 150%
*99%
164% 16434
16%
*81%
167%
4234 4234
100% 100%
*5%
5io
1734 18%
*____
100
131
95
159
*
*
*108
100
.
159
*
*
158
...
.1*108
100
130%
93
*12%
102% 102%
*12%
102% 10234
*30
*27
188
51
*30
*27
....
31
30
188
51
27
*26%
68
68
31
30
85
6
39%
63
*21
15
*6%
13%
11%
6
41
6
40
63%
6278
22
637S
21%
6478
2234
6%
*
19
54
525
.50
14
1958
67%
.07
63%
634
7%
118
118
120
119
132-% 1333s
2778
94%
8%
95
17%
18
18
Last Sale 5
6
142
834
256
61 o
73«
20%
7%
19%
18%
1834
2%
13%
*2
13%
18 "
*3
658
38%
10%
7%
*.25
.35
21%
*43g
46%
20
4I0
101o
26
9
6
.35
36
20
4%
1058
2558
9%
6
36
126
*14
72
70
18
*17
*H->
17%
1%
2%
14%
19
934
2
41t2
8%
41%
1*2
42
11%
12
54
81•>
838
12
54
5%
5%
55,"
*33% .34%
37% 383g
4678 47
434
481»
21
5
1034
28%
10
6
38
130
73
134
44
9
12
59
6
34%
38%
34%
4734
39
*2
3
*23%
2334
2334
3%
2434
44
45
3
45
3
3
634
*110
*1%
e
7%
•
-
-
-
7%
115
1%
1%
3%
6%
39
11%
7%
734
.50
.40
22
47
*2U
44
3
19
111'
10 5,B
10
14%
0'8
40%
*11'
934
*2
3%
17'g
17r
*llo
*53
678
....
36'%
12334 124
*12
70
7
83f
117
17s
*
.25
.40
22%
*4%
49
2058
434
10%
2734
934
6%
8%
.35
....
10%
178
44%
938
12
58
6
35
3878
4734
3
24
45
*934
e9
119
*134
5134
27
23
23
35
2%
14%
20 *
151 *
20 ‘
378
634
378
.50
.40
734
.50
.48
*15
Last Sale 85
6
40
42
6438
23%
6578
23%
1734
6%
6%
19
7
Last Sale
14
14
12
12
1S34
56
530
18
.10
66
20
57lo
530
19%
.10
66
7
21
*2
16
2%
2%'
161-
15%
19 "
7%
37%
*10%
*7%
7%
38
11
8
*.35
.48
.60
.50
205s
5
10%
107s
11%
29
10
27
10
28
15
77
*6%
75
75
9
834
9
12%
12%
59
12%
64
57
24%
47%
3
r9
119
2
6%
17.
6%
35
35
39%
4734
3%
24%
40%
4678
3
8%
120
*134
48
3%
24%
47%
3
9
120
2
1034
7%
10%
*1%
6%
*34%
...
1034
44
9
12%
12%
61
12%
59
60
107g
*2%
834
S34
100
pref
....
,
„
,,
35%
39%
48%
3%
24%
3
*83S
120
120
*120%
*13j
*1%
17g
* did and asxed prices,
35%
391-
4S%
33.
25
3%
9
17,
139%
210
185
25
Apr 7
Jan 7
Jan 3
Jan 19
Jan
b
AlclilO
133% Jan 3
112
Apr 29
88
20 i
20
88
Jail 1/
153%
89%
162
6
109
127% J’Jy
26
J’ly
91
J'ly
7
16
4%
138%
6334
7%
31 Mergenthaler Lino.._ 100
350 Mexican Telephone.- 10
52 N E Cotton Yarn....100
Do
30
pref
100
71 N E Telephone
100
Pacific Coast Power.. 100
274 Pullman Co
100
9 Reece Button-Hole.. 10
220 Swift & Co
100
75 Torrlngton, Class A__ 25
Do
10
pref
25
369* United Fruit
100
4,349 Un Shoe Mach Corp__ 25
Do
501
pref
25
14,486 U S Steel Corp
100
Do
219
pref
100
20 West Telep & Teleg..l00
Do
pref
100
Mch 2
1433g Feb 24
104% Mch 23
11% Jan 7
J’ly 28
J’ly 28
8% Jan 1J
l52%Aicn
39L Mch 19
28
-
445
Daly-West
20
3,075 East Butte Cop Alin..
Elm River
1,667 Franklin
9,269 Giroux Consolidated.
801
2,872
5,475
715
4,088
7,632
545
1,000
929
10
12
25
5
Granby Consolidated. 100
Greene Cananea
20
Hancock Consolidated 25
Helvetia Copper
25
Indiana Mining
25
Isle Royale (Copper). 25
Keweenaw Copper..__25
Kerr Lake...
5
Lake
Copper
25
La Salle Copper
25
Mass Consol
25
Mayflower
25
Mexico Cons M & S._ 10
Miami Copper
5
Michigan
25
Mohawk
25
Nevada Consolidated.
5
New Arcadian Copper.25
Niplssing Alines
5
North Butte
15
North Lake
25
845 Old Dominion
275 Osceola
460 Parrott (Sliver &
262 Ouincy
25
25
...
Cop)
25
25
10
25
10
1,288 Ray (V>nso| Copper
Santa Fe (Gold & Cop) 10
5,721 Shannon
10
.5
South Utah A1 & S
25
1,790 Superior
1,794 Superior & Boston Alin 10
1,815 Superior&Pitts Copp. 10
1,593 Tamarack
1,220 trinity
490 UnitedStatesCoal&Oil
4,508 U S Smelt Ref & Min.
Do
pref
2,250
2,090 Utah-Apex Mining
2,553 Utah Consolidated—
-
e
Ass’t paid,
Jan 24
Mch 30
Jan lo
97
124
115
100
200
FeP i.
Mchzt
13
13
12
26
36
J ly 13
12% Alay 4
5
J’ne 30
4434
500
131'
.04
58
6
2
10
131' May 3
3
J’ly 7
6% Aug 9
28% J’ly 15
9
J’ly 23
4% Mch 8
.48
J’ly 29
.30
J’ly 19
17
J ly 18
378 J’ly 12
43
J’ly 20
17% J’ly 5
3% J’ly 13
934 Jau 17
18
J’nejo
65s J’ly 13
5% J’ly 18
.25
Aug 9
29% Jne 15
114
J’ly 27
12
J’ly o
66
J’ly i
15% J’ly )
1% J ne30
834 J ’ly ^
1% J’ne30
J’ly 19
738 J’ly 14
9
J’ly 5
36
451 •> J’ne 22
25
4% J’ly 18
33
Jan
3
Jan 3
Jan
3
Jan 10
Jan 3
yji' Alch
165
Jan
88
Jan
102
Oct
rll4
rll7
67s Jan
11
Jan
5
94% Jan 22
19
Jan 14
878Jan 22
178 J an 13
5
29
Jan
Jan
7
4
8% Jan 21
Jan 22
27% Jan 11
75
1058 Jan 12
12
May25
50
Jan
3
257s Alch 7
1234 Jan 14
134 Feb 1
55
166
J £ill
Jan
*5
21% Jau
3
92
Mch
3
9
2434 Mch 8
234 Jan 3
18
Jan
3
334 Jan 19
C8% Jan 14
18
Jan 12
1658 Jau 10
78
Jan
i
1138Jan 3
4034 Feb 15
18% J’ne3C
J’UC30
2% J’ly 22
00% Jan 3
534 Jan 14
55
46
Jan
Jan
3
3
3
3
15
.50
Jan 14
Jan 3
334 Jan 14
lx Ex rigtits.
a
22% Nov
Apr
136
131
Apr
145% Sep
40% Aug
J'ne
12% Sep
31% Aug
8% Oct
147% NOV
7134 Dec
108
125 Jan
18% Jan
150%
Feb
1378 J’ne
Apr
Aug
83% Dec
97
Apr
220% Deo
Jan
260
173
69
Jan
89
Jan
2021' Men
68
Jau
Apr
93
Jan
2
3% Oct
12u% Jan
75
f eb
Jan
168
9% Jan
100
Jau
20% May
24% Jan
125
118
139
Oct
Oct
108
Oct
199
12
Aug
Sep
Oct
31% vSep
9478 Oct
Feb
131
1J
96
478 Oct
Jan
62
23
Dec
Nov
Deo
34
35
170
71
6% Jan
Mch
76
34
65
Sep
114% Aug
41% Feb
Oct
Dec
Dec
10% May
Feb
Mch
Oct
96% Nov
40f' Dec
Dec
38% Feb
Feb
30
54
51-% Deo
J iy
Feb
.80
May
17% J’ly
24
Dec
8
.45
Jan
18
8
Sep
2138 Feb
96% Alay
685
Feb
29
Feb
.10
Jne
11% Dec
33&8 Nov
Jan
Aug
119
695
44% Sep
Jan
.35
68% Feb
8634 Nov
12
9
Feb
8% Sep
28% Jan 3
634 Jan 14
9% Feb
125% I1 eb
27% Feb
931' Jan
4% Apr
15'4 Apr
334 Apr
Jan
J’ly
105
Nov
Nov
3
4
50% Aug
Jan
7
245
J’ne
40
117% Aug
107
Aug
21834 Aug
117% Auz
175
Apr
98% Apr
112
Apr
rl72?8 Feb
73* J’ne
90
Feb
Jan 12
J74% J’ne
Aug
Sep
200% Jan
149
215
90% Alch
971' Apr
94
Oct
N OV
19
84
Nov
Feb
Apr
Dec
Apr
9
53% Jan
5% Jan
o Ex-stock div.
195% Jan
10
3
46% J ly 20
2% J iy 22
J’ly 13
102
J’ly if
1% J’ly 26
Oct
Jan
Jan
71? May
7% Feb
Oct
1
13
Feb
50
5
5
Jan
Feb 1
Feb 25
25
50
/23 934
Mch
Feb
103
Dec
S8U Sep
10
58
Mch 81
33i' J’ly 20
l
275
136
107
36
*
Jan
6
3
9%Mch28
3
18
J’ly 18
J’ne
J'ly
3
0
1334 Jan
212 Feb
22% Mch
12% Jan
111% Jan
1178Jan
J’nei2
123
Jan
Jau
38
.16
85
9% J’ne3o
6
J’ly 26
20
J’ly 0
6% J’ly 29
1434 J ly 19
162
18
94
103
J’ly 26
146
200
190
26
77% Nov
14% Mch
65% Oct
Nov
128% Nov
75
Jail
79
J’ne
239% Apr
135
Dec
235
Mch
153
Nov
301
Jan
22
Feb
Jau
9034 Jan
125-% Jan
685
6% J’ly 13
.25
143
115
267
126% Jan
Mch
^54
28% Jan
Jan 3
Jan 3
Jan 3
Jan 3
Jan 14
.70
Mch 28
24% Jan 13
18% May25
28% Jan 3
May 4
Feb 8
J’ne30
J’ly 12
J’ly 0
J’ly 15
J ’ly 6
FeP 17
J’ly 21
46% Dec
4
9034
40%
6334
6034
12%
9
1134 Jau
60% Jan
10
May
Jan
31
J’ly
J’ly
55% J’ly
19% J’ly
6%
Jan
5
Feb li
12% Apr 14
10934 Jan lo
34%Jan 3
31
May G
196
Mayl9
7134 Apr 18
4
31
155,s
Jan 3
Jan 11
138% Mch 11
165% Jan 16
46% J’ly
25% J’ly 9
oi38 J’ly 26
ill
J’ly 20
Mch
Men 18
220% Feb 2c
634 May 10
J’ne 30
11% Jau 15
.50
10
0
84% Alayi8
4
100
28
27
J’ly 14
1601'Jau
3
25
744 Utah Copper Co
1C
25
545 Victoria
Winona
25
2,570
2f
85 Wolverine
355 Wyandot ....27
d New stock.
2 60
Aug 5
99% Aug 3
130
Aug 11
Men 22
0
Mch 4
11% Jan 3
108
94
153
Jan
71
4
Apr 14
214% Jan
234Jau
14
85
Feb U
124
7
1
Mch 18
Alay 10
J ne
132% Jau
295
Sep
&5S Jan
Jan
13
12/38 Mch 2
6
26
124% Jan
223% Dec
87s Feb 11
24
125% Oct
106
Jan
225
33% Jan
104
6
Jan
98
jan 10
Mch a
487s
98*4 Mch 3,
4% Aug 2
14
J’ly 16
J’ne
J’ne
Feb 10
Highest
10034 Jan
195
May 31
Apr 14
11%
58%
Apr »
giod
1623g Mch 14
0
108
9834
277 Edison E'ec Ilium.
Jar. 2«
100 A239
215 General Electric;
J’ly .6
.100 135
335 MassachusettsGasCos 100
76% FeP 8
474
Do
89
May 10
pref
100
440
634
4G34
3
4634
loo
__100
iou
100
i 00
100
50
297f 18,290
97g 2,070
727 □jibway Mining
(At
.35
1,900 Old Colony
44
9
35
%
Colony
Rutland pref
Seattle Electric
Do
pref
Union Pacific
Do
pref
Vermont & Mass
West End St
Do
....
21%
53g
11%
44
16
76
10
48
156
118
270
115
115
2034
538
11%
27%
978
1034
17s
298
1,317 Amer Sugar Refin.... 100
148
Do
pref
100
5,133 Amer Telep & Teleg-_100
50 American Woolen
100
368
Do
pref
100
2 Atl Gulf & W I S S L.100
374
Do
pref _
100
Boston Land
10
8 Cumb
Telep & Telee.100
Dominion Iron & Steel.
2,645 East Boston Land-1
50
A.ug’10
*
J’ly 27
50
%
6
Feb 24
Feb
Jan 20
*Jan 3
36
215g
47g
15%
“
13634 Jan
227
152
150 Amer Agricul Chein_.100
436
Do
pref
100
218 Amer Pneu Service... 50
Do
1,495
pref
50
21%
434
75
14% J’ly 26
J’iy 1
75
149
Jan 10
J’ly
46
49
300
7,820
1,035
265
615
5,161
38
131
202
7
99
988
1,210
634
8
Apr 8
Feb 10
3
50
21
'
.30
*37
*130
15
75
Jan
123% Jan
104% Jan
234
87
35 Old
....
1,700
11%
124% J’ly 10
104
85
Lowest
Apr 28
Mch 11 r!40 Mch 9
Maylo 213
MchU
Alay
100
Jan 7
May 0
35
Jan 3
Aug 2 116 Jan 6
Aue 2 106 Mch 2
J’ly 26 204% Jan 3
J’ly 26 1033gJan 3
Apr 22 168 Jan 17
May 2
95% Mch 8
19%
1S58
39
39
48
48
3 1-16 3K
*24
24%
_10u
Maine Central..
100
1,225 Mass Electric Cos....100
103
Do
pref
100
359 N Y N H & Hartford.100
Northern N H
100
Norwich & Wor pret.lOo
161'
8
.60
.50
.50
Last Sale 1
*42
Fitchburg, pref
Ga Ry & Electric..-.100
Do
pref
..100
720
6 550
7%
39 ‘
*.35
7
12%
68%
11%
77g
23%
2%
7%
10%
.40
37
441o
910
2
73g
34%
38
2158
434
49%
205s
5%
130% 130%
15% 15%
*183g
116
16%
3?g
5
.40
37
707s
107g
758
2134
7tj
19%
271*
7 "
8%
Aue’10
34
22
44%
33 f
61
42
10%
7%
34
45
9%
4734
....
Mining
7%
19%
3-%
_
540 Adventure Con
25
1.275 Allouez
25
65%
66% 19,594 Amalgamated Copper 100
2334
25% 3.61K? Am Zinc Lead & Sin.. 25
5 Anaconda
25
18%
1SS8 23,051 Arizona Commercial- 25
315 Atlantic
25
.55
Bonanza (Dev Co)
July’10
10
14%
14% 3,035 Bos&CorbCop&SilMg
5
12
121' 3,102 Butte-Balaklava Cop_.10
Butte
Coalition
15
a:19%
1934 3,608
57%
5934 2,530 Calumet & Arizona.. 10
525
530
30 Calumet & Heel a
25
*18
19
100 Centennial
25
900 Cons Mercur Gold....
1
68
68% 1,805 Copper Range Con Co 100
11
<
189%
5134
Aug’10
42
7
7
8
8
8%
Last Sale .35
10%
7%
33%
758
12%
10234
31
30
188%
51%
27%
6958
115%
51%
27
2134
37%
_
100
188%
49
131
578
_
30
30
50
6%
92
219
100
130
130% *
Last Sale 95
June’10
15934 160
15934 160
49
21
5
.25
37
131
15
75
80%
*5%
100
19%
35%
3934
*
....
1878
*1%
1034
178
6
91%
57g
21%
*4%
6%
*
7%
39%
11%
87s
256
80%
216
2134
434
10
658
11%
1?8
8%
91%
2134
434
10%
275S
28%
10
734
21
2%
10%
734
10’%
7%
8%
.35
35
38
5
1234
2010
59
530
19
.10
67
11%
7%
758
215g
1934
7%
.55
15
11%
7%
20
5
49
85
42%
6G34
7
8
*.25
22%
June’10
256
69% 6978
116
*115% 115%
16% *15
16%
4178
65%
Before pay't ot a3se3i'ts caned in 1909.
189%
7
6534
8
.50
.40
.25
38
131
14% 15
75
75
1778 18%
*1%
1%
31
30
7
*.09
75g
20%
2%
1434
1934
3%
034
3934
11%
_
*30
*27
18%
7%
.25
38
130
*108
100
130
28
95
....
30
*27
188
51
27
20
57
530
6534
11%
4034
.35
.09
93
160
*538
133%
July’10
*140% 150
81 •>
834
256
256
144
144
80
80%
216
120%
119
.....
*140% 150
91%
18
*30
*27
188
51
1434
12%
19%
...
Range for Previous Year
(1909)
Highest
_
Miscellaneous
43
12%
10234
1878
.7%
13
167%
100%
5%
*12%
102% 10234
*.50
60
535
35
5
9
6
20%
57
525
*18
*.07
65
7
8
*.25
11%
634
21%
4%
10%
25%
1988
34
7
.50
.40
20
6434
678
15%
33
638
32
7
3%
7%
38%
10%
*4%
46%
.07
1434
1234
_
43
*12%
102% 10234
116
*15
*--.
19%
7
.55
6%
32%
18
7%
38%
10%
17%
40
1812
6%
8
.35
12
7
18
*2
13
IS
*3
525
40
.
Lowest
_
9458
8%
69%* 7034
41
2234
108
100
13034
26%
6%
*.25
11
1034
.35
10%
,
85
F
159
28
189
51
66%
23%
*.50
14%
19
17%
7%
.55
1134
520
.07
63
7
18%
6%
13
53%
17%
3278
67g
7
*.25
.40
21
16
1134
.25
*__.
6
40
7%
*
*
5034
26% 26%
6758 70
11478 11534
*15
16%
69
85
95
6
40
16
7
.55
14
*.50
19
52
525
*16
*.06
63
7
*__.
*
28
188
*114% 115 *114% 115
15% 1534 *15
16%
*__,
1303s 131
158% 159
*12%
102% 10234
30=8 30%
187% 188
51
51%
26
26%
6S34
*
*
159%
108
100
*
.
100%
5%
18
119
119
133
*27
2778
142
80
rm]
16%
.
150
150%
140
Aug’10
210 June’10
185
185
27
Aug’10
108
Aug’10
100
101
28
95
10
144
1423s 143% 144% 144
80% 80%
80
80%
80%
80% 80%
*
9112 91%
91%
91% 91%
92
91%
216
216
*214%
*215%
*214%
*5
L34
5%
5%
5»8
*538
5%
578
*108
Aug’10
July’10
July’10
Apr’10
14
Last Sale 3334
8%
139
Last Sale 90%
Aug’10
Last Sa e 163 June’10
88
88
87% 87% *
*87%
*100
101
101
100% 100% *100
133
*27
28
99^4
100%
220%
124%
207%
93%
100% 100%
5%
5%
18
18%
118% 119
117% 119
18%
*98fa
*100
220
98
98%
100
100
221
221
*123
1251-=
*205
210
*138
139
Last Sale
Last Sale
Last Sale
Last Sale
*36
*140
142
*110
115
Last Sale
Range Since Jan. 1
Railroads
63 Atch Top & Santa Fe.lOCi
91% J’ly 26
47
Do
pref
100
97% Aug 2
41 Boston &
218
J’neio
Albany..
10<
74 Boston Elevated
x\22
10(
Aug 2
28 Boston & LowHl
200
100
J’ly i.7
7 Boston & Maine
,100 134 J ’ne t
Boston & Providence. 100 x292 Jne 20
Boston Suburban El Cos.
14
J’neio
Do
70 J’ly 21
pref
8
Boston & Wore Elec Co:_
MchiJ
4
Do
36
J’ly 29
pref
78 Chic June Ry & USY.100
140
Aug 5
43
Do
Apr .2
pref
100 110
265
Mch
8
Connecticut River.. 100
162
*43
132% 133%
28
94%
99%
*
Friday
Aug. 12
Last Sale
Last Sale
*-.-. 186
Last Sale
Last Sale
185
29
104
*
44
44
100% 100%
5I9
5%
17%
15%
8134
15034
185
*26
*25%
43% 43%
100% 101
5
5%
1634 18
534
85
_
15%
81%
1534
81%
18534 186
29
♦
*
1=
104
*9912 10012 *100
*99%
16314 163l4 163% 1637» 16234 165%
*93
94
*931» 94% *9234 93%
*
*
¥
162
162
162
*87
88
87% *
87% 87%
*10012 101
100% 10O *1001'
*25%
_
*
*10734
85
15%
*_
221
1241'
210
140
292
15
74
10
37
140
115
*
*361*
*107%
*-_
*-.
¥
140
140
110% 110%
*10712
221
123
*205
*__
205
140
292
15
74
10
*
*36%
*11012
*125
205
¥
15
74
10
*70
14o"
*.
205
140
292
98%
99%
98%
*220
*203
Thursday
Aug. 11
Wednesday
Aug. 10
Week
Shares
Deo
7% Aug
38
5% Dec
22% Apr
2% May
7% Apr
16
Jan
10% J’iy
4% Mch
.30
Apr
3% Apr
1234 Feb
33%
«734
93s
74%
19%
18%
Feb
Dec
Aug
Dec
Dec
1
Dec
Nov
May
6
28 %
Dec
13% Mch
70% Jan
6% Oct
*57% J 'ly
16% Feb
Nov
30
3i' Nov
83s Dec
978 Oct
13
47
Dec
4% Mch
Sep
85% Jan
1178 Aug
14% Dec
534 Nov
Jne
47% Feb
.40
122
19
83
Mch
165s Apr
2% Jau
19
Aug
12% Nov
110% Dec
145g Nov
.90
69
170
Feb
Dec
Dec
Deo
Aug
Dec
36% J’no
99
Jan
1% Nov
27s Jan
13% Feb
17?8 Jan
Jan
13% Nov
67
34
1278 Apr
J'ly
9% Dec
62
28
39
44
4
90
Jan
Feb
Jan
54
Oct
634 Jan
49% Nov
3
Octr>
43< Apr’
2
Feb
17&8 Jan
39% Nov
59
Sep
37% Feb
3934 Feb
139
Dec
18% May
18% J’ly
Mch
Oct
66
"
6
Oct
NOV
Dec
•718% Deo
158
Aug
4
Ex-div. aud rights.
Jan
Aug. 13 1910.
Boston Bond Record
UOA !>."*
Price
BOSTON STOCK BXOH’GE
WKRK ENDUtG AUGUST 12
Week?*
Friday
Range
or
Last Bale
August 12
Bia
Am Agrioul Chem 1st 5s..l928
Am Teieu db Tei coll tr 4S.1929
Convertible 4s
11*30
Am Writ Paper 1st s 16s g 1919
Am Zinc L & S deb 6s.... 1915
A-O
J-J
M-S
J.J
M-N
Am Com Cop 1st cony 6s 1918 MS
Aten Top db S Fegeng 48..1995 A-O
Adjustment g 4s.... J’ly 1995 Nov
Stamped
J’ly 1995 M-N
50-year conv 4s
1956 J-D
10-year conv 5s
1917 J-D
AU Gull db W ISS Lines 5s.’59 j.j
Boston Elect L consol 6s. 1924 M-S
Boston db Lowell 4s
1916 J-J
Boston da Maine 4 Vs
1944 J.J
Boston Terminal 1st 3 Vs. 1947 F-A
Bur db Mo Hi v cons 6s
1913 J.J
Butte <& Boston 1st 6s....1917 A-O
Butte Elecifc Pow 1st g 5s. 1951 J-D
Cedar Hap db Mo it 1st 7s.1916 M-N
Cent Vermt 1st g4s..Mayl920 Q-F
O B & Q Iowa DiV 1st 68.1919 A-O
Iowa Dlv 1st 4s
1919 A-O
Debenture 6s
.....1913 M-N
Denver Exten 4s
1922 F-A
Nebraska Exten 4s
1927 M-N
B«fe 8 W st 4s
1921 M-S
Illinois Div 3 Vs
1949 J.J
Ohio jo Ky & Stk Yas 6s. 1916 j.j
Ooll trust reiunding k 4sl940 A-O
Ob MU & 8t P Dub D 6s.. 1920 J-J
Oh M db St P Wis V div 6sl920 J-J
OhlCdb No Mien 1st gu 5s.l93i M-N
Ohio db W Mlob gen 6s....1921 J-D
Concord db Mont cons 4S..1920 J-D
Conn db Pass E 1st g 4s...1943 A-O
Cudahy Pack(The)lst g 5s 1924 M-N
Current Elver 1st 6s
1927 A-O
DetGr Rap db W Ist4s...l9ib A-O
Dominion Coal 1st s t 6s.. 1940 M-N
Fttonburg 4s
1915 M-8
4s
1927 M-S
Fremt Elk db Mo V 1st 6s..1933 A-O
Unstamped 1st 6s
1933 A-O
Gt Nor C B db (4 ooll tr 4s 1921 j.j
Eegisterect 4s
1921 Q-J
M January
Since
36
97
101
97
100
152
Feb’i0;....,!l52 167*11
98*3 98*2 J’ly’10!.... 98*4 101V
92
88>u J’ly’10 .... 88*2 94 4,
92
943s Mar’10
94
94 3&
102*2 J’ly’10 .... 102 4»102 4,
Sale
974i
38
88
....
106
64
Feu’lO1
117*a
117*2117*2
S2
64 *s
64 *J 17
Feb’04*
63
110
100 >4
il04 *2
112 V
103
73
Jan’03|
Feb ’10
103
104
Torrington 1st g 6s
100
85*2
11342 May’10
85*2
85 *21
86
113*2114
85
88
98*2
98*2
11103 Oct’07!
98*2 J’ne’101
1013* Mar’10!
99*s Feb’10!
97
101*2 10134
Mar’10'
99
99
99*8
99*4
99
99V
Oct ’09'
863e J’ly’10 ....II 6GV 8SV
iUO *8
3 100
101*4
90*4
21 89
927e
115*2 Jan’10 ...J 115*2 115*2
100 *S 100*2 100*8
92
90*4
Feb’051....!'
126
99
100
91
99
100.
May’l0;....||
99
J’ly’10 ...J 100
Deo’07!
112*4 Jan’03|
100*4 Aug’09i
Anr’iol..
99
89
98
93*2
94*4
944,
Mar’10..
U64> J’ne’10;..
103 *s Apt ’05
96
133
140
95*2 95
94 V
Apr’08l....n
Mar’09!....H
Apr’05'....!1
95 V|
21
Aug-lO1....1
94*2 97*8
94*2
96*2
August 6
Avgust 8
88
125
•20
•40
21
42
*20
•40
•14*2
14V
*14V
43
42
43
42
125
126
*20
41 V
14V
41V
*14*2
16
*14 V
14V
42*2
42*2
•4‘i
43
*42
43
42
42
42Q
11V
42V
*11V
42V
•42
42
43
42 V
49
27 V
50
27 V
48V
49
*26*4
27
74V
73
20 V
ilV
*11*4
47 V
11*8
47
26*8
26*4
48
26 V
72 V
72V
47 V
26*2
73
19
•88
74
8*4
19
00
74V
14 V
18°,
63»*
43*4
14*4
18*4
6y*4
00V
8*8
8*8
43V
81V
43*2
81*4
63 V
•42V
73
19*2
75
63
19*2
01
*89
78V
V
64 V
14V
13*4
14V
10*4
43
19
6b7iA 6y®ie
8V
8*8
43*2 44V
82
81*4
PHILADELPHIA
42
*11*4
47*2 49
26V 27*4
73
74*4
8*4
8*4
*10*4 19*2
*89
77
’
63**18
*43
14*4
19*4
69 V
19 V
90
80 V
64 V
43 V
14*4
10V
70*4
19 V
Ask
muctive siocua
Amai Asbestos Corp. 100
Preferred
10U
Amencan Milling
10
Amur Pipe Mfg
100
Beil Telephone (Pa).lOO
Cambria Iron
60
Central Coal db Coke. 100
ConsolTraoof NJ...100
Easton Con Electric 6.50
Ft Wayne dbW V
100
Indianapolis
St.
100
Indiana Union Tr....l00
Insurance Co of N A.. 10
Inter Sm Pow & Chem. 60
Keystone Teiephone ..50
Preferred
45
4*5 V
79V
80
asked;
8i’b
‘
64 a4
43 V
15
19 V
71
8V
11V
59
88 V
127
20 V
20*4
41V
*14 V
41V
15
*19
43
20
43
42V
11V
49V
73V
26 V
73
73 V
89*4
21V
00V
21*4
90V
70
64 V
81*4
64**ie
43V
43^
15
15V
*11V
82
64V
43 V
16 V
19V 19V
70*18 70 V
44 >2
44V
82V
8214
81V
8V
44V
81V
PHILADELPHIA
......
19
21
8
4
19 V
22
76
8V
3,026
90 V
83 V
64 V
45
4y
78,344
1,52b
15*,
5,59t
19V
71»ie
81V
97 V
Bethlo Steel 6s 1998.Q-F
Choc dbMelst5s 1949 J-J
Ch Ok db G gen 6s T9 J-J
Uoi St Ry 1st con 6s 1932
ConTraoolNJ lst5s.’33
E db A 1st M 6s 1920 M-N
Elec db Peo Tr atk tr ctfs
4 V
14
Lehigh Nav 4 Vs T4.Q-J
Rlis 4s g
1914.Q-F
Gen M 4*28 g. 1924. Q-F
Leh VO 1st 6s g ’33..J-J
0
45
82 V
| Ask
57
6 L
6L V
iW
42
89 V
43
9*4
37
52 V
96
......
day.
H Ex-riTits.
H $13 paid,
Bince
<\
High
.Vo
09*4
Apr ’08
1*3*8 Mai’10
99*4 Feb’10
113
J’ne’lo
1
9934
92
93
114
92
01
92H>
100
January 1
Low
High
99*2101
01
103
104
03*8
97
9934
9U34
97*4
97
97
97
09*4
99*8
113
118
1*2*2 93*2
91
92
102
103
93
Aug’10
Mar’lO
1133b Nov’06
101*4 Sep’05
115
J’ne’08
97*4
97
102*2 Atig’04
100*8 101*2
101
5
jlOO *8 105
102
Feb’09
100*2 Sep ’08
77
Apr’10
96 V
96 7e
131
J’ly’10
967g Hale
131
134
101
77
79*2
96 V 102
131
135
Apr’09
9878 Sep ’09
116V Feb’10
99
105
102 °b
116V 116V
93*2 99
jiLai’10
Deo’08
107*2 Nov’05
102
103
96
Sale
135
F-A
M-S
M-N
F-A
J.J
J-J
142
Mai’02
78*2 Apr’10
104
100
96
M-N
M-N
103
05
97
78*2
103
103
I 88
Aug’ 10
Apr’07
155
102
78*2
104*4
110
1003, Mar’10 ....1100*4
997b Apr’10 ...J| 99V
108 V Apr’10 ...J 108V
96
£5*4
lOl 95*4
100*4
10UV
109V
96V
Mar’10 ....'153
160 l!l01*2 I05*a
97
98V
*2 J’ly TO
03*4 J’ly’10
101 a4 J’ne’09
98*2 Apr’10
97
Aug’lO
95*a 95
y534
04V Jan’lu
95
asked.
98*2
97
04*2
94V
13
99*8
99
99
94V
1] Flat price.
50
......
i*08**
100
102 V
100 V
i*4*8**
96
08
7,986
4,725
792
2,666
2,249
PHILADELPHIA
Vo nr/1unQ I
| Highest
Mar21
Marll
60
Lowest
May23
30
Highest
Mar
12V
90
J’ly 14 76 Mar
8 132
Feu28 100
Jan
J’ly 29 27 *4 Jan 3 11*4 Feb
J’ly 27 47 Jan 8 2234 Feb
May 3 15 *2 J’ly 15
0*4 Feb
13
J’nel7
J8V
41
41*4 J’ly 21
40*4 J’ly 26
n*4 J’ly 29
42
J’ne30
19*4 J’ly 20
J’ly 26
J’ly 6
64
7
Bid
| Ask
Portland Ry 1st 6s 1930.
Roch Rydb Leon5s’54J-J
100*4 101
73
8 f 5s 1926
M-N
U Trac Pit gen 5s ’97 J-J
Weisbaoh s t os 1930. J-D
Wlks-B GdbE con5s’55J-J
06V
Ala Cons Coaidb Iron. 100
Pret
100
Atlanta db Charlotte.. 100
Atlan Coast L (Conn)lOO
Canton Co
100
Cons Cot Duck Corp...60
Preferred
50
Georgia Sou db Fla... 100
1st pref
2d pref
G-B-S Brewing
100
100
100
Prices are all ** and
interest.”
'
102 V
74V
Range tor Previous
Jan 1
Jan
Ph db Read 2d 5s '33.A-O
Con M 7s 1911
J-D
Ex Imp M 48 g ’47.A-O
Terminal 5s g 1941.Q-F
P W db B col tr 4s ’21-J-J
Bouds
i*o*2*v
Range Since
Lowest
79
103 V
05
101
75
107*4
10UV
t $12*4 paid,
Anaoostia db Pot5s....
AU db Ch ext 4 Vs TO. J-J
Atlan C L RR4sl952M-S
Atl Coast L(Ct)otfs 5s J-D
Ctfs of inuobt 4s....J-J
6-20 yr 4s 1925
J-J
Balt CPass 1st 5s ’ll M-N
Balt Fundg 68.1916 M-N
Exchange 3 Vs 1930 J-J
Balt db P 1st 6s ml’ll A-O
B S P db O lst4 *28 ’53F-A
Bait Trao 1st 5s..’29 M-N
No Balt Div 5s 1942 J-D
Cent’l Ry con5sl932 M-N
Ext db Imp 5s. 1932 M -S
t $13 V paid.
3 $35 paid,
Jan
Jan
3
6
25
Dec
44 V J’ly
32 V Feb
48
89
Deo
May
121*2 Deo
28*4 Deo
48
Deo
14*aDeo
231
BALTIMORE
MaconRydbLtlst5s’53J-J
Memphis St 1st 5s’45 J-J
MetSt(Wash)lat5s’25FA
Mt Ver Cot Duck 1st
os
NptNdbO P 1st 5S’38 M-N
Norfolk St 1st 6s ’44..J-J
North Cent 4 Vs 1925 A-O
Series A 5s 1926....J-J
95
Series B 5s 1926....J-J
74
Pitt Un 'Trao 6s 1997 .J J
70
2
Poto
1
Vai 1st 5s 1941..J-J
Sav Fla db West 6s’34 A-O
Seaboard A L 4s 1950 A-O
Saab db Roan 5s 1926.J-J
100
100*2 South Bound 1st 5s..A-O
U El LdbP 1st 4 VS’29 M-N
92 V 93*4 Un By db El 1st 4s ’49 M-8
104
102
Income 4s 1949
J-D
Funding 5s 1936...J-D
105
103
92 V 03*2
Va Mid 2d
ser 6s ’ll.M-S
3d series 6s 1916..M-S
4th ser 3-4-681921.M-S
6th series 5s 1926.M-S
Va (State) 3s new’32.J-J
92*2
Fund debt 2-3a 1991. J-J
West N O con 6s 1914 J-J
105*4 107
109
WesVa Cdb P 1st 6gTl J-J
108
Wii db Weld 5s-.1935.J-J
106
lc8
••••••
*92*’
a
Jan
Deo
| Bid | Ask
Chas City Ry 1st 6s’23 J -J
Chas Ry G db El 5s '99 M-S
Charl Cdb A 2d 7s'10 A-O
City db Sub 1st 6s. .’22 J-D
City db Sub( Was) 1st 5s’48
Coal db 1 Ry 1st 6s’20F-A
OolcfcGrnv Ist6s.l916 J-J
Consol Gas 6s...1910 J-D
5s
...1939 J-D
Ga db Ala 1st con 5s ’45J -J
Ga Car & N 1st 5s g ’29 J-J
6
20
88*4
99V 100
43
48
53*2 Jan 10
49 V Deo
12*a Jan 14 xi07g Jan 12 V J’ly
64*4 Marll 43 Jan 63*2 J’ly
34*8 Jan 29 15 *2 Jan 33*4 Deo
84*4 Jan 10 53 Jan
84 V Deo
13
„anlo
15
9*2 Jan
Apr
14 V Jan
33 V May
28V Jan 3
i23
Jan 7
96 Jan 125 V Deo
Feb 113
121*4 Marla 67
Sep
69a16 Mar 9 63 *8 Feb 75 V Sep
40
63*4 Jan 8
V Fen 5IV Deo
16V Marls 11*4 Fob 14 V Dec
24 V J an
28*2 Jan 3
36*2 Apr
86
Feb la
59 *2 Feb 86V Sep
9iie May 13
634 Jan 7 *8ia Mar
52V jan i> 607b Jan 58 V May
96 *8 Jan 10
84V Uu) 95 V Deo
GaSo db Fia 1st 5s 1946J-J
G-B-S Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knoxv Trao 1st 5s ’28A.O
LakeR El 1st gu5s’42M-S
87 *4
224
100
4
15
30
92
28
50
79*2 Georgia P 1st 6s...’22 J-J
BALTIMORE
Inactive Stocks
...
9V
no sales on this
00
104*4
J-D
Gen cons 4s 2003.M-N
Leli V Tran con 4s ’35 J-D
N ew Con Gas 5s 1948 J -D
Newark Pass con os 1930
NYPhdbNolst4s ’39 J-J
Income 4s 1939...M-N
NoOhioTrao con6s’19.J-J
Penn geu 6s 1910
Var
Consol 6s 1919
Var
Penn db Md Steel con 6s.
Pa db NY Can 5s *39.A-O
Con 4s 1939
...A-O
Penu Steel 1st5s T7 M-N
People’s Tr tr certs 4s *43
P Co lstdb col tr 6s’49 M-S
Condb col tr 5a 1951M.-N
Phil Elec gold trust ctfs.
Trust certifs 4s
P db E gen hog ’20. A-O
Gen M 4s g 1920..AdbO
Range
or
117
Keystone Telephone... 50
Lake Superior Corp....100
15*2 J’neiio
Lenigh 0 db Nav tr otfs. 51 86 J’ne3u
Lehigh Valley
60 62*2 J’ly 27
Pennsylvania RR
60 61uis J’ly 2b
Philadelp’aCofPittsb). 50 42 J’ne3i
Philadelphia Electric||. 25 tl37g Peu C
Phila Rapid Transit... 50
15
Apr2i
Reading
50 65*2 J’ly 2i
6 *2 J an 2
Tonopah Mining
1
union Traction
50 41VJ’ly2t
United Gas Impt
79
50
J’ly 2c
Spanish-Am Ir 6s ’27 J-J
U Trac Ind gen 5s’19.J-J
Un Rys Tr otfs 4a’49JdbJ
United Rys Inv 1st coll tr
102 V
Leh V ext 4s 1st 1948. J-D
2d 7s 1910
M-S
Consol 6s 1923
J-D
Annuity 6s
82 V
35
82 V
98 V
114
Interstate 4s 1043 ..F-A
12
3-3
Philadelphia
21V
71
8V
44 V
.100
American Cement
50
71 American Railways.... 50
2,336 Cambria Steel
60
Electric Oo of America 10
1,564 Eleo Storage Battery.. 100
1,660 Gen Asphalt tr otis ....100
Do
2,083
pref tr ctfs ....100
27
19 V
Bid
Am Gas db Elec 5s'07. F-A
AuiUyaconvos 1911. J -D
AU City 1st 6s g T9.M-N
V
8
Range
ask IjOW
Friday; latest bid and
100
United By Ob Electric.. 60
*98’33.F-A
Eq II Gas-L 1st g 5s 192S
Indianapolis Ry 48.1933
Last Bale
9934
ACTIVE STOCKS
215 Seaboard (new)
150
Do
2d pref
43
49V
8V
44 V
Friday
August 12
Bia
J.J
J-J
J.J
Baltimore
Con. Gas EL L. db Pow. 100 46
75
Do
pref....
100 80
279 Northern Central...... 60 115
BergdfcEBrw 1st 6s’21 J-J
Penn8yl RR receipts
Pennsylvania salt
50
Pennsylvania sieel.,100
•Bid and
*55
*88
'126
*8
*
No prloe
Friday
1 Week (For Bonds and Inactive
Stoc/cs see below)
August 12 Shares
8V
20V
90
Alt&LV Eleo
60
Preferred
loo
Phila Co (Pitts) pref...60
Phil German & Norris.60
Phila Traction
50
Railways Geuerai
10
Snsqumi iron & Steel..5
Tidewater Steel
10
Preferred
10
Union Tr ot Ind
100
United N J RR db O.. 100
Unit Trao Pitts pref..60
Warwick Irondb Steel.10
Welsbacli Co.....
100
West jmsey & seash.60
Westmoreland CoaL...50
Wilkes Gas db Elec.. 100
129
20
V
*11V
11V
14*4
70V
SVe
*126
20
| ofSales
the
Bonds
Prices are all “ and
KeystoneWatchCase.100
Leli Vali Tran v t C...50
Preferred vtc
50
Lit Brothers.
10
Littlo Schuylkill
60
Minehili db Scliuyi H..50
N Haven Iron & stem.5
Northern Central
50
North Pennsylvania..60
126
73 V
8V
90
80 V
64 *2
44
8V
8*2
44V 44 V
82
82 V
| Bid
126
Week’s
Exchanges—Stock Record, Daily, Weekly, Yearly
Thursday
August 11
126
126
*20
21
41
41
*14 V 14V
•11*4
•7
Wednesday
August 10
*
Price
1918 M-S
Umou Pao RRdblgrg 4s. 19^.7
20-year conv 4s
1927
Uniteu Fruit gens f 44,8.1923
U S Coal db Oil 1st s f 6s.. 1938
U S Steel Corp 10-60 yr 5s. 1963
West End Street Ey 4s.... 1915
Gold 4 *28
1914
Gola deoentaro 4s
1916
Gold 4s
1917
Western Teleph db Tel 58.1932
Wisconsin Cent 1st gen 4sl949
the purchase prioe for all Boston Bonds.
Share Prlcee-Not Pep Centum Prioe*
Tuesday
August 9
Illinois Steel deben 5s....1913'A-O
la Falls db Sioux Cist 7s.. 1917'A-O
Kan C Clin db Spr 1st 5s...l925'A-0
Kan C Ft S db Gulf ext 5s..1911 J -D
Kan C Ft Scott db M 6s....1928 M-N
Kan C M <& B gen4s
1934 M-S
Assented income 5s
1934 M-S
Kan C db M Ey db Br 1st 6sl929! A-O
Maine Cent cons 1st 7s...1912! A-O
Cons 1st 4s
1912 A-O
Mara Hough db Ont 1st 6s. 1925 A-O
Mass Gas 4*28
1929 J-J
100*2
1U3
1
•0
B08T0N STOCK EXCH’GE
Week Ending August 12
Mich Teleplst 6s
1917 J-J
Minne Gen Elec con g 5s 1929 J.J
New Eng Cot Yarn 6s. ...1929 F-A
New Eng Teleph 5s
1915 A-O
5s
1916 A-O
New England cons g 5s... 1945 j.j
Boston Term 1st 4s
1939 A-O
New Eiver (The) conv 5S.1934 J-J
N Y N H db H con deb 3 *281956 J-J
Conv deb 6» (ctfs)
1948 J-J
Old Colony gold 4s
1924 F-A
Oreg Ey db Nav con g 4s..1946 J-D
Oreg Sh Line 1st g 6s
1922 F-A
Pere Marquette deb g 6s.. 1912 J.J
Eepub Valley 1st s f 6s... 1919 J.J
Rutland 1st con geu 4*28.1941 J.J
Eutland-Canadian 1st 4s 1949 J»J
Savannah Elec 1st cons5s.l952 J-J
Seattle Elec 1st g 5s
1930 F-A
Sliannon-Anz 1st g 6s
1919 M-N
Terre Haute Elec g os....1929 J J
Got ’08'
J'ne’011
100
63
Mar’09
Philadelphia and Baltimore Stock
Monday
1
So-Low
u. —High
H 100*4 103
89^
89 4,1 38 89
93 V
99 4, Aug’10
99 4>106
87 V J’ly ’ 10
87*4 87*4
Noto—Buyer pays accrued interest In addition to
Saturday
bo> ds.
Range
101V'
jlOl
101
I'M
Hi gfl]
A 8 ft Low
89 V Hale
100
101
....
88
L25
389
3
102
104
92 V
93V
105
107
100 v 101V
97
100
105
107
107 V 108
102V 103
103 V 104 V
110
105 V 106 V
40 V 42
6
8
100
102.
107
110
95
96
98
99
107
109
72 V 72*4
92 V 05
105
110
106
107
110
lO?*,
102
105
103
107
81*4 82 V
101
105
104
106
88
89
84*8
59V
84V
59*8
82 v
83
100*4
102
103
105
105
107
85
85
102
100V
108
87
87
lu5
100 V
jU0
Receipts. 6 $25 paid. 0 $30 paid, d $42 V paid.
a
(VOL. ucxxxi.
THE CHRONICLE
390
=sx=
Jmiestment and Railroad Intelligence*
HAILROAD
GROSS
EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
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
oan
The return* of the electric railways are brought together separately on a subsequent
period.
Latest Gross Earnings.
ROADS.
Ala N O & Tex Pae
N O 4 Nor EastAla A Vicksburg
Vicks Shreve & P
Ala Tenn Sc North.
Atch Top A S Fe.
Atlanta Birm A Atl
Atlantic Coast Line
(/Baltimore & Ohio
BA O Oh Ter RH
.
-
_
Week or
Current
Previous
Month.
Year.
Year.
.....
June
June
__
.....
.
.
Quincy tfay .....
V Chic Great West. 4th wkJuly
Chic Ind A Loulsv. 4th wkJuly
.
Chic Ind A Southern —See New
Chlo Mllw A St Paul June
Ch Mil APugSd. June
.....
tune
hlc St P M & Om. June
Cln Ham Sc Dayton June
Clev Cln Chic A St L —SeeNew
Colorado Midland.. May
Colorado Sc South.. 1st wk Aug
Colum Newb A Lau March
8hie A North West.
DelXhcK & West...
Previous
240*15
.
30.941
222,060
30.65*
221,921
62,334
687,494
81,148
106,360
17,378
10.715
03*97
2,9,027
329,912
33.499
433,590
226,198
196,704 2,559,336 2.157,163
1.613.698 1.545.739 19,936,436 18,907,945
June
3,194,163 2,882,952 36,005,9<87 3 3,553*35
1st wk Aug
465,800 2,459,200] 2,410,200
447,100
1th wkJuly
103.120
111,368
27,599}
29.8201
itb wkJuly
99.586
50.876
148,914
113,790
st wk Aug
199,199
38,141
190*08
?76,648
.....
Denv A Rio Grande
DenVN W So Pac__
Det Tol A Iront Sys
Aim ArtJoir......
Detroit & MaOklnac 1st trie Aug
124.499
24.527
127.747
Dul A Inm Range. J June
1,292,88 0 1 .048,626 10.289.064 9*47,572
Dul Sou Sh Sc Atl_. 4th wkJuly
313,502
297,594
108,305
96,298
El Paso Sc Sou West June
667,706 628,414 7.437*61 7.274,014
Erie
June
4,668.890 4,420.868 54 *66.100 50,441,162
Fairchild * Nor E_ une
20.596
1,613
25,038
( Johns AGlov .June
69.715
904,751
11:111
.....
.....
.....
.....
Railroad
.June
•If
m.oio
wI?;gl
1st Wk
4th Wk60,655
Det Gr Hav A Mil 4th wkJuly
43.804
18,746
Canada Atlantic. 4th wkJuly
20 454
45*11
Great Northern Syst July
5,656*72 5,314.939
Gulf A Ship ilslahd. May
160,525
159,843
.....
Hocking Valley
M*y
Illinois central.... July
Internat A Gt Nor. 1st wk Aug
0 Interooeanlo Mex. 1st wk
Iowa Central...
Aug
1st Wk Aug
Kanawha A Mich.. May
Kansas City South.
KCMex A Orient._
L>ehigh Valley.
Lexington A East..
Long Island
Louisiana A Arkan.
....
June
1st wk Aug
June
Juno
June
June
655.855 396,278
,983,964 4.569,344
137,000
124,000
141,350
153,147
59,755
eo.m
243,887
175,835
m.m
3,252,347
54,392
.....
Loulsv Hend A St L May
| Loulsv A Nashv.. 1st wk
Macon A Blrm’ham July
Maine Central..
June
Manlstique
July
a
3d wk
Maryland A Penna.
Mexican Railway.
Michigan Central
Mineral Range
Minneap A St Louie
Aug
May
July
—See New
4th wkJuly
1st wk AUg
uMo Kan A Texas. July
Minn St P A S S M) 4th wkJuly
Chicago Division I
Mississippi Central. June
Ino 4
118,740
88,006
971,685
12,077
775,396
760*82
34,140
2,926,540
36.366
8.696
92,412
85,205
899,015
11,780
755,308
3,193
33,733
3.283
33,894
160,800
York Cen
18,806
25,694
77,413
77,023
2,120,473 1,913,863
614,774
551,766
traf.8,400
81,073
3,010,957}
3,906,404
995,242
M
5*56*72
1,041.119
6.673 *95
4.983.984
790*00
».&£!
73,257
444*83
1,913,863
893,040
698,707
1,711,950
AGGREGATES OF GROSS
Weekly Summaries.
1st
2d
3d
4th
week
week
week
week
1st week
2d week
3d week
4th week
1st week
June
June
June
June
July
July
July
July
Aug
(41 roads)....
(44 roads)....
(42 roads)....
(42 roads)....
(44 roads)....
(45 roads)
(44 roads)....
(43 roads)....
(42 roads)....
(25 roads)....
Cur'nt Year Prev’s Year
5
16,484*37
12.553,149
13,106,719
13,073,508
17,171*04
3
14,038,471
12.359,231
11,133,094
10*66,342
11.432.364
16.676.649
9,459*58
12,546,427
12,802,686
17.393.199
10,142,094
10,954,872
11,239,607
11.348*08
14*59,700
Inc. or Dec.
2
+2,445,766
+ 1.598,277
+ 1*67,112
+ 1,725,300
+ 2,312*04
+ 1,226,137
+1,580,085
Current
Preeious
Year.
Year.
Year.
88,11^),
.....
.....
«
.....
Jk*
.....
.....
.....
4»
.....
.....
.....
.....
.
.....
.....
Seaboard Air Line.)
Atlanta ABlrm. [ 4th wkJuly
384,509 1,510*41 1*61,549
430*76
Florida W Sbore j
Southern Indiana, j May .—133,228
102,775 1*72*33 1,090,56
11294413 10397489 135022607 12052190
Southern Pacific CO June
Southern Ry
...
Mobile A Ohio..*
Cln N O ATP...
Ala Great South.
Georgia So A Fla.
Texas Central
Texas A Pacific
let wk Aug 1,089*96 1,047,435 5,790*60
4th
4th
4th
4th
wkJuly
wkJuly
wkJuly
wkJuly
June
1st Wk Aug
-Tidewater A West. June
.....
274,5381
277,591
237,023
99,550
55,681
814,773
65,787
1*14*78
1*69*01
36,016
74*99
238*33
5*81
32.311
75*03
7,463
6.1*9
647*24
496*80
537.124
247*70
130,303
63.510
61.510
248,206
7,7461
....
^rm
56,651
461,974
2,120,473
1,903,210
Previous
Year.
...
4*69,844
696,000
822,290
312,404
286,474
2,522*57 1,971,719
0,723*79 8,901 *96
174*29
197,684
36,167,398 33,187*32
484,620
412,626
Zno 1,1 40*54
1,822,762 1,166*01
939,522
1,080,450
5,154*20 4,787*08
12,077
11,780
8.922,312 8,337,723
3,283
3,193
376,707
348,217
473,000
437,600
Current
5 34
8,394*91 7,695,909 97,568.890
4,193,794 3.648,560 48,579,016 41,485,462
384,581 5,447,527 4,572*81
422,951
239*15 217,778 3,722,387 2*15,468
28*12,502 25,481,601
2,177.052
2,392,924
Michigan Central. June
ClevG C A StL.. June
2,398,393 2.172,926 29,330,985 25*38*951
Peoria A Eastern June
228,764 3*82*21 2*02*96
279*91
Cincinnati North. June
82,034 1*43,024
105,551
Pitts A Lake Erie Juste
1.606*36 1*79,907 17.339.922
Rutland ....
260*91 3*08.7201
279,570
June
N Y Chlo A St L. June
741*48
318*41
Tot Ml Macs above June...... 21131957] 18889 470
Tol A Ohio Cent.; June
4,476*6
505*31 320.361
N Y N H A Hartf.. May
5,391,264 4,761,765 55*65.485
N Y Susq A West.. June
32.940 3,474*80
288,292
Norfolk Southern.*; June
18*81 2,690,48“
245,503
Norfolk A Western. June
3,001,923 2,745.450 35*63,87
Northern Central.. Juno
1*45,102 1*09*02 g*»«*46
Northern Pacific.... May
6,559,387 5,451.967 6V ,750*44
Pacific Coopt Co... June
720.264
662,376 7,903,148
5*20,294 4*16,206 53.538.t8t1
13757 087 12580 687 163846 190 14&419 J
Ino 18*7 0,500
Inc 1,42 0*00
,uette.._. June
1,299,^93 1.195.679 15.995,623 nmm
1,652*17 1,520*17 18*38*49
::::: 2,789,119 2,426,318 33,561*74.
Raleigh A Southp't. June
155,08r
140*72
11,634
10.792
Reading Company.
Phlta A Reading-. May ..... 4*25.723
5,707 41,488*67
Coal A Iron Co.. May
2,983,331 2,545,783 31*39*36 32,838,!
Total both cos... "
May ..... 7*09,054 5,781,490 72,727*02 69.710.350
Rich Fred A Potom June
193,952 2,331,548 2,026,325
230,073
Rio Grande June
74*20
957,155
797,479
May
76,136
Rio Grande South. 4th wkJuly
44*93
52,30•5
16,946
14,473
Rock Island Lines. June ..... 6,040*89 5,448*71 68,220,57 9 61*184.887
St Jos A Grand Isl May
126.098
115*85 1,503,431 1,464,970
St Louis A San Fran June
3,145*06 3,060,161 41,165,939 37,756,986
Chlo A East Ill-. June
818,128 11,750,355 10*69,619
940,736
156,681 2,471,175 2,093,997
211*42
/ Evansv A Ter H June
Total of all lines. June
4,298.487 4,034,970 55,387,470 50,120*02
9t L Rky Mt A Pao. May
137*55 1,793*47 1*94,094
182*58
St Louis Southwest. 1st wk Aug
106,464 1,117*41
995*58
211,518
San Pod L A A S L.' May
697,922 5*03*93 6,695,179
803,209
N Y C A Hud Rly. June
Lake Shore AMS June
.9 Lake E A West. June
Chic Ind A South June
4,323,959
*71,792
150,364
149,256
5*14.939
1,782*08
5.409.896
888,075
57,542
Week, or
Month.
Toledo-Peat A West 4th wkJuly
Toledo St L A W.«* 1st wk Aug
Mo Pcc A Iron Mtl
Central Branch.] 1st wk Aug
953,000 5,201,000 4,960,000
089,000
Nashv Chatt A St L June
897,235 11*37,204 11,122,114
1,026,249
a Nat Rys of Mex t. 1st wk Aug 1,180,871 1,101,356
6,456,654 5,583*49
Nevada-Cal-Oregon 4th wkJuly
16,671
9,942
31*80
43.701
Nevada Central.... March
446
4,875
47,828
55,166
N O Great Northern May
64,625 1,354,065
153,991
555,342
N O Mobile A Chic. 4th wkJuly
29,249
24,697
114*66
96,519
N Y Ont A Western June
792,859
719,329 8,578,783 8,290,170
4th week May
ROADS.
Year.
121,332
121,832
106,298
106.298
125,417
61,715
4,047
7,143
104993
196
94,265,717
8,102.501
8,459,030
182,661
58,923
201,945
66,082
2,104,977 2,033.018 29.610,268 26.144,065
8,088,755 6,755,964 88,901,252 76,412,856
41.68
1.295,245 1,091*17
135,215
163,71'
2,990,529 2*18,444
227,028
5,06
75,407
96,411
8.004
3,884,201 3.448,872 48,367.17* 39,528,698
48,511
4.601
51.907
4,022
079,217 4*10,845
177,070 l«9,«6i
1,908,461
104,213
116,571 1*19,719
195.200 1.473*00 1,038,700
248,200
8*31,000
:
2,085,000 1,637,000 10,725,000
072*00
995,400
-210,500 286.200
2,409.530 2,000.890 25,724,468 23.415.034
3
470
425
8*02*35
293,526
328,269
2*32
3.567
1,846
1,288
937,912
873.816 2.642,136] 2*10,007
284,246 1,688,587 1,373*34
286,802
6,817,653 6,139,750 00,769,043 72,185*63;
865,024
950,975
237,636| 223,466
484*99
165,462
520,594
175,622
York Cen tral.
5,867,338 4,984,636 64*46*93 59*97*68
1,171,591
,576,811 5,671,537 74,175*84 65.078,471
1,284,337 1.143.738 15.095,023 13,524*50
831,022
642,428 9,446,525 7*97,049
York Cen [tral.
194.091
issues'
2,153,807 2.123,740
304,621
294.692 1,655,039 1,574,501
134,422
J(
May
June
Cornwall...-*
Cornwall Sc Lebanon[June
Cuba Railroad..... June
Delaware A Hudson June
.
270,259
134,422
125,417
86.482
240.815
276*59
.....
...
Copper Range
Current
Year.
July 1 to Latest Dale.
Latest Gross Earnings.
e
July
July
July
4th wkJuly
June
June
June ....w
June
Bangor & Aroostook
June .....
Beltefonte Central
Boston & Maine... June .....
Bridgeton Sc Saco R June
BuffRoch A Pitts. 1st wk Aug
Buffalo A Susq.j.. April .....
Canadian Northern. 1st Wk Aug
Canadian Pacific.
lSt wk Aug
Central of Georgia.. 4th WkJuly
Centftt of New Jers May . ....
Central Vermont
May .....
Chattanooga South. 2d wk July
Ohio. 4th wkJuly
I ton
let Wk Aug
.
July 1 to Latest Date.
page.
743,156}
352,658
197,080
83*421
Am
85*49
7.508*58 6 *64,177 90*28*92
708,655 9.831*60
......... June
871,034
90*87
80,435 1.196.194
Virginia A Sou West June
Wabash ....
562*22
..1st wk Aug
593,628
Tomb!ghee Valley.. June
Union Pacific Syst. June
VandaIla
.....
.....
A Seash.. June
A L Erie. June
June
White River <Vt)
Wrightsville A Tenn June
Yazoo A Miss Vail. July
.....
.....
.....
...
549,424
645,190
3,131
15,217
720,776
Jan 1
Jan 1
Jan 1
Bellefonte Central....
Delaware A Hudson
Manlstique
Mexican Railway
NY Central A Hudson River.
Lake Shore A Michigan South
n Lake Erie A Western
Jan
Jan
•
Jan
Jan
Chicago Indiana A Southern. Jan
Jan
Michigan Central
Cleve Cln Chicago A St Louis. Jan
Jan
Peoria A Eastern.
.......
Jan
Cincinnati Northern—
Jan
Pittsburgh A Lake Erie
Jan
Rutland ..........
.....
New York Chicago A St Louis Jan
Jan
Total all lines (11)
Jan
Northern Central
Jan
d Penn—Bast of Plttsb A Eric
Jan
d West of Plttsb A Erie
Phlla Baltimore A Washington. Jan
Plttsb Cln Chicago A St Louis.. Jan
Dec
Rio Grande Junction
Jan
Texas A Paclfie
Jan
West Jersey A Seashore...
;
.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
June
June
July
July
30
30
June
30
31
783,56
662,01-
279*75
l.lSfciiT
1,267*8
74,362
83,608
*81**Q
7J:M
1,136*66
VRM
S:SSS:U MBA
302*87
862 *03
720,776
655,815
Current
Year.
Period.
Various Fiscal Years.
a
509,884
2,496
14,053
655,815
5.407.93
Previous
Year.
839*74
9.635*53
25,009
829*53
9*97*67
24,458
21
4,640,400
June 30 46,970,798
June 30 23,713,128 20*45,108
June 30 2.570.881 2.167,342
June 30 1,925,758 1*26*82
June 30 13*87,403 12,590,368
14,181*68 12,508,023
June 30 1,591,758 1*38,352
June 30
589*66
524*31
June 30 8*83,619 5,782*42
June 30 1,476,343 1.370,095
June 30 5,449,523 4,671,473
June 30 120740 445 105196 446
June 30 6,190,394 5,710,994
June 30 80.423,949 70,142*49
June 30
Ino 9,3 79,700
June 30 9,082,411 3,465*11
June 30 16,791,691 13.590,100
31
7
June 30
May
Aug
465,930
8,800,477
2,599*52
413*39
7*75,557
2,398,452
EARNINGS—-’Weekly and Monthly.
17.42
14.59
16.60
15.15
15.29
11.01
14.41
+ 1,370,322 11.99
+ 716,550 4*9
+ 682,136 7*1
Current
Monthly Summaries.
%
Yr. Previous Yr. Inc.
2
Mth.
Mth.
Mth.
Mth.
Mth.
Oct
Nov
Deo
Jan
Feb
Mth. Meh
Mth. Apr
Mth. May
Mth. June
Mth. July
1909 (286,918
1909 (236,374
1909 (237,189
1910 (286,758
1910 (236,853
1910 (235*25
1910 (237,569
1910 (229,345
1910 ( 89,924
1910 ( 88,593
2
or
Dec.
%
2
m.) 260,613,053 232*61,182 +28*51,871 12*1
m.) 247,370*54 211,281,504 +36,089,450 17.Qf
m.) 222,006,184 205,455,121
+
16,551*63 08.0(
15.K
16.1!
237,533,005 204*16,997 + 32.616.008 15.92
225*25.596 196,595*11 + 28,629,685 14.56
230,033,384 198,049*00 + 31*83,394
m.) 210,302,219 182,649,825 + 27,652,394
m.) 202,258,490 174,159,723 +28,098,767
m.)
m.)
m.)
m.)
m.)
63.672,503
55.215,679
+8,356*24
63,504*51
58 *57,725
+5*47*26
d Coven lines directly operated, e Includes the New York A Ottawa, the St. Lawrence A Adirondack and the Ottawa A
N. Y. By., the latter of Which, being a Canadian road, does not make returns to the Inter-State Commerce Commission,
t Includes Evansville A
Indiana RR.
a Includes the Cleveland Lorain A Wheeling Ry. In both years,
n Includes the Northern Ohio RR.
v Includes earnings of ftfasonOltf’
A Ft. Dodge and wise Minn. A Pacific,
s Includes Louisville A Atlantic from July 1 1909 and the Frankfort A Cincinnati from Nov 1 1909.
t InJudes the Mexican International from July 1710. u Includes the Texas Central In 1910.
a
Mexican currency,
Atra 13
THE CHRONICLE
1910.]
Earnings by Weeks .—In the table which fol¬
lows we sum up separately the earnings for the first week
of August.
The table covers 25 roads and shows 7.21% in-
391
Latest Gross
1910.
First week of August.
1909.
Increase. Decrease.
3
Buffalo Rochester A
Canadian Northern
Canadian Pacific
Pittsburgh
Chicago A Alton—-
—
Colorado A Southern
Denver A Rio Grande
Detroit A Mackinac
Detroit Toledo A Ironton—
Ann Arbor.
----Grand Trunk of Canada
Grand Trunk Western
inada
Atlantic
Set
Gr Hav
A Mllw
--J
International A Great North n.
Interoceanlc of Mexico
Kansas*CUs^Mex- A OrientI 111
Louisville A Nashville.
177,970
248,200
2,065,000
286,802
304,621
447,100
24,527
189,961
195,200
1,627,000
38,141
37,974
726,508
832,475
137.000
124,000
153,147
1 41,350
60,737
59,755
34,140
899,015
85.125
971,885
77,413
1,089,696
248,206
74,999
598,628
77,923
953,000
1,101,356
196,464
1,047,485
238,663
75,203
562,022
10,142,094
9,459,958
Minneapolis A St LouIs__.
Missouri Pacific.
National Rys of Mexico
St Louis Southwestern
Southern Railway
989.000
1,180,871
211.518
Texas A Pacific
Toledo St Louis A Western
Wabash
Total (25 roads)
Net increase (7.21%)..-.iti..
284,246
294,692
465,800
22,284
„
■
S
11,991
53,000
438,000
2,556
9,929
1909.
Roads.
3
$
7,746
5,881
83,942
74,362
July 1 to June 30
Toledo Peo A West.b--July
83.608
93,702
Wabash.b
...June 2,457,342 2,301,434
July 1 to June 30......28,886,056 25,868,033
748,760
Yazoo A Miss Vall.a.--June
663,410
July 1 to June 30.10,384,150 10,035,257
-
Current
Previous
Year.
Year.
3
3
companies.
72,870
510
36,000
79,515
15,054
42,261
0,543
204
819,508
682,136
EdisElCo( Brockton) _b_ June
Jan 1 to June 30
Edis Rl Ill Co (Boston) .July
__
Fail RlVer Gas Works. b.June
Jab l to June so..
Houghton Co El L Co.b.Junb
137,372
332,693
135,206
33,093
208,066
93,050
Minn Gen Elec Co.b.-.June
JAn 1 to June 30..
-“fht
3
3
3
Previously reported (25 roads). 13,181,987 12,696,946 1,037,420
Alabama Great Southern
130,303
99,550
30,753
Atlanta Birmingham A Atlantic
58,923
66,082
7,159
Central of Georgia
310,500
286,200
24,300
237.635
223,466
Chicago Great Western
14,169
Chicago Ind A Louisville...
175,622
165,469
10,153
247,870
237,023
10,847
Chicago New Orl A Texas Pacific
Denver Northwestern A Pacific
Detroit Toledo A Ironton.
Ann Arbor
Duluth South Shore A Atlantic
Georgia Southern A Florida..
Louisville A Nashville
Mineral Range
Minneapolis St Paul ASSM..1
Chicago Division..
j
Mobile A Ohio
Nevada-Califomla-Oregon
New Orl Mobile A Chicago
Rib Grande Southern
Seaboard Air Line
Toledo Peoria A Western
Total (42 roads)
Increase (4.29%).
29,820
50,876
47,990
108,305
63,510
1,375,060
18,806
551,766
55,681
1,344,228
25,694
514,774
274,538
9,942
29,240
16,946
430,376
36,016
277,591
16,671
24,697
14,473
384,509
32,311
27,599
39,586
54,960
96,298
12,007
7,829
30,832
6,888
36,902
4,552
2,473
45,867
3,705
Gross Earnings
Previous
Current
Year.
Year.
1 to June 50
12M35
14,522
86,207
13*078
17,056
7.224
79,276
7,685
126,360
25,694
173,478
66,878
13,697
91,278
31,081
9,630
68,878
Ml
1 to June 30
Year.
258.047
402,927
36,060
58,858
July 1 to June 30
103,547
Illinois Central.a.
June 5,095,095
July 1 to June 30
62,430,062
Mlnneap St P A SSM.a June 1,338,367
July 1 to June 30
15,407,179
Chicago Division.a..June
795,561
July 1 to June 30
8,028,224
Missouri Pacific_b
June 4,224,010
July 1 to June 30
53,019,135
NashyChatt A St L.b..June
27,061
29,974
,
and Surplus.
Rentals, Ac.—
~Bat.
of Net E’ngs
Previous
Year.
Current
Year.
Previous
Year.
5
6
3
18,976
34,116
67,133
676
7,289
17,988
5,264
69,281
£52,813
604
tjtt
32,613
J:in
*11
7,520
249
757
5,364,292 1,997,304 *3,108,357 *3,210,737
Apr 1 to June 30
Jan 1 to June 30.
»,253,019 4,670,121 *5,069,273 *5,835,696
July 1 to June 30—...13,935,663 12,153,821*10.789,905 *9,190,530
Syracuse Bing A N Y—
36,631
48,760
*178,328
*169,633
Apr 1 to June 30.
Jan 1 to Jhne 30
_i_.
116,645
142,612
*249,404
*235,014
241,351
*499,118
307,823
*487,122
July 1 to June 30
Genesee A Wyoming—
7,488
8.092
16,587
Apr 1 to June 30
Jan 1 to June 80
.i.
14,458
15.951
21.164
31,590
28.398
39,659
44.600
July 1 to June 30
Toledo Peo A Western. .July
24,558
24,404 *def8,378 *def6,247
576,019
Previous
Year.
26,456
31,545
105,075
858,699
11,264,843
2,037
14,277
956,266
10,263,880
1,624,411
21,166,224
INDUSTRIAL COMPANIES.
1,026,249
July 1 to June 30
11.637,204
N Y Susq A Western.a.June
288.292
July 1 to June 30
3,474.360
Pacific Coast.
June
720,264
July 1 to June 30
7,903,148
Rich Fred A Potomac..June
230,073
July 1 to June 30
2,331,548
Rock Island Lines.b._-June 6,040.869
July 1 to June 30
66,220,579
St Louis A San Fran.b.June 3,145,806
July 1 to June 30
41,165,939
Chic A East Illinois.b.June
940,378
July 1 to June 30.
11,750,355
Evansv A Terre H.b.June*
211,942
July 1 to June 30
2,471,175
Total all lines.b
June 4,298,487
July 1 to June 30
.55,387,470
29,347
44,368
91,859
4,518.688
57,145,512
1,072,626
12,609,299
654,211
7,556,603
3,756,532
46,385,542
897,235
11,122,114
232,940
3,252,746
662,376
6,580,507
193,952
2,026,325
5,443,471
61,184,887
3,060,061
37,756,986
818,128
10,269,619
156,681
2,093,997
4,034,970
50,120,602
24,679
37,105
71,249
870,786
12,614,313
487,238
6,380,578
213,001
2,665,728
1,277,754
15,471,766
265,015
3.199,945
122,076
1,074,935
115,829
1,512,479
104,111
915,156
2,402,388
18,151,210
958,752
12,489,097
363,256
3,796,371
“79,727
948,230
1,401,736
17,233,699
Companies.
3,694,579
7,143,951
15,075,722
108,946
17,397
20,826
37,998
1,369,641
13,464,280
402,927
4,638,489
164,346
2,054,333
846,995
12,459,030
222,684
2,771,413
64,810
1,046,272
93,629
959,490
73,600
728,638
1,983,961
18,671,392
1,272,928
12,996,895
343,806
3,335,085
54,881
772,032
1,671,616
17,104,012
Year.
Year.
Jan 1 to June 30
Blackstone Vail G A E.June
Jan l to June 30
Edis El Co (Brockton) ..June
Jan 1 to June 30
Fall River Gas Works--June
Jan 1 to June 50
Houghton Co Elec LtCo.June
Jan 1 to June 30
Lowell Elec Lt Corp
June
799
375
4,493
29.201
160.281
3,787
24,145
3.702
21,826
4.333
2,076
28,811
161,199
3,314
18,805
2,340
14,707
4,129
24,745
4,135
24,638
29,546
180,200
6,110
25,934
4,562
Jan 1 to June 30
27,436
Minn Gen Elec Co.
June
Jan 1 to June 30...
188,823
Sierra Pacific Elec Co ..June
5,640
After allowing for
ELECTRIC
—Bed. of Net E.ngs
Current
Previous
Year.
Year.
a
s
Ablngton A Rockland Elec
June
Light A Power Co
*
490,576
453,851
231,584
188,259
1,023,419
954,921
512,051
408,418
June 4,668,890
4,420,868
1,445,583
1,619,051
54,866,1 (0 50,441,162 15,765,858 13,536,877
July 1 to June 30
Erie.a
July 1 to June 30
Genesee A Wyoming, b—
Apr 1 to June 30
17*.27*
}}:«?
—Net Earnings
Current
227,872
24,240
29,569
580,752
July 1 to June 50
870,970
847,018
103,032
Boston A Maine.b
June 5,664,201
5,448,872
584,541
July 1 to June 50.
45,557,174 59,528,698 12,020.851
Bridgeton A Saco Rlv._June
4,922
4,601
1,422
July 1 to June 30
51,907
48,511
14,647
Chesapeake A Ohio.b..June 2,515,560 2,417,593
830,166
July 1 to June 50
31,237,169 26,630,718 12,300,470
Chicago Mllw A St P.b.June 5.567,338 4,984,636 2,082,958
July 1 to June 30
64,846.893 59,897,463 20.055,896
Chic Mil A Pug’t Sd b June 1,171,591
524,728
Aug 1 to June 30.
10,765,704
5,490,844
Del Lack A Western, b—
Apr 1 to June 30.
9,389,877
4,170,915
8,528,283
Jan 1 to June 30
17,518,113 16,327.136
7,787,668
July 1 to June 30
36,005,986 33,553,435 16,713,218
Syrac Bing A N Y.b—
Apr 1 to June 30
254,522
241,060
127,240
Jan
273,933
32,255
190,862
—
3,053
6,729
Monthly to Latest Dates.—The table fol¬
gross and net earnings of STEAM railroads
industrial companies reported this week:
1 to June 30
7,958
57,122
Rentals, Ac.-~
Current
Previous
Bob Rev Bch A Lynn.b—
Apr 1 to June 50
134,624
143,729
9,363
Del Lack A Western—
716.560
Roads.
Jan
39,607
258,341
,
lowing shows the
Jan
A Lynn—
30
30__.i
30
Bridgeton A Saco Rlv.-June
July 1 to June 30..-
6,970
1,485
10,130
68.846
42,719
3
Net Earnings
and of
.,
Current
Year.
Roads.
Boston Revere Bch
Apr 1 to June
Jan 1 to June
July 1 to June
2,221
11,290
17,393,199 16,676,649 1,292,586
Net
3
552,379
2,350
13,614
given are after deducting taxes.
given are before deducting takes.
Interest Charges
Increase. Decrease.
1
m*
613,573
44,519
Siena Pacific Elec Co--Juhe
lere
18,201
128,339
205,159
18,290
Lowell El Lt Corp.b
June
Jan 1 to June 30..
j
21,949
147,975
33,994
Jan 1 to June 30..^-**
e
500,198
t8,079
_.—
Net Earnings-—
Current
Previous
Year.
Year.
3
4,459
30,828
72,263
459,806
7,537
44,305
.
_
982
985
31,606
Ablngton A Rockland Elec
Light A Power Co.b.June
Jan 1 to June 30.
B lackstoneVailG AE b June
Jan 1 to June 30.
Buffalo Gas Od-“
Jan 1 to Juhe 30—_^.
13,000
11,797
3
3
35
def.2,822
7,072
5,639
12,180
16,211
623,581
712,539
8,349,833 7,110,840
13,377 def.22.026
1.452.465
1,019,182
INDUSTRIAL COMPANIES.
Gross Earnings
167
105,967
Net Earnings
Current
Previous
Year.
Year.
Tidewater A Western .b.June
2,243
.....
1910.
of July.
Gross Earnings—
Previous
Year.
-
Current
Year.
18,700
For the fourth week of July our final statement covers 42
roads and shows 4.29% increase in the aggregate over the
same week last year.
Fourth week
—
30,724
98.060
5,576
44,701
&!§?
2,891
40,944
9.335
63,842
23,850
183,641
24,334
Week or
Month.
Current
Year.
3
American Rys Co.__. June
cAur Elgin A Chlo Ry June
Bangor Ry A Elec Co June
Baton Rouge Elec Co June
Binghamton St Ry_. June
Blrm’ham Ry, Lt A P May
Brockton A Ply StRy .Tune
Cape Breton Elec Co. June
Carolina Pow A Lt Co June
Central Penna Trac. June
Chicago Railways Co.
Cleve Palnesv A East
Dallas Electric Corp.
Detroit United Ry..
Duluth-Superior TrCo
East Penna Rys Co..
East St Louis A Sub.
El Paso Electric
Falrm A Clarks Tr Co
339.113
151,851
45,707
8,942
_
_
31,869
218,575
10,418
Previous
Year.
3
319,103
142,568
43,865
7,748
31,758
184,825
12,557
25,755
221788
16,313
73,952
1098,059
April
.Tune
33,261
June
114,514
3d wk July 199,542
June
95,340
46,957
April
June
200.553
June
45,224
June
50,993
16,003
67,257
997,347
15,015
129,515
20.051
Valley Traction Co June
June
June
Wk Aug 7
June
June
Illinois Traction Co.. May
Jacksonvllle Elec Co. Juhe
Kansas City Ry A Lt April
Lake Shore Elec Ry. June
Mllw El Ry A Lt Co. June
MIlW Lt Ht A Tr Coa. June
Montreal Street Ry_. Wk July 23
Nashvllle Ry A Light June
COMPANIES.
Jan. 1 to latest date.
Current
Year.
1,84^.095
738.771
255,305
52,083
1,070,700
49,440
128,575
103,448
Previous
Year.
1,695,
677,
234,
1
45,
919,567
55,136
108,729
89,192
358,107
103,593
160.428
83,036
44,289
393,747
4,150,232
153,578
682,282
4,959,940
511,641
193,551
164.887
1,110,353
3,780,965
136,429
607.589
4,132,633
452.491
168,980
957,216
47,075
42,122
309,238
269 711
283,565
212,293
125,266
109.083
90,952
45,280
115,981
105,803
91,764
41,309
723,618
609,180
530,823
1,282,379
648,655
572,726
479,809
37,866
34,689
27,538
423,616
38,391
552,628
221,587
150,995
2.365,774
283,471
197,684
150,115
2.101,518
2,380,494
2.185,070
526,728
474,677
Ft Wayne A Wabash
Galv-Hous Elec Co.
Grand Rapids Ry Co
Havana Electric Ry.
Honolulu Rapid Tran
A Land Co...
4:iSS
m
other Income received.
Latest Gross Earnings.
_
1,060
8,054
1,551
9,121
10.316
RAILWAY AND TRACTION
Name of
Road.
X
X
26,752
472,255
46,409
601,477
103.533
388,174
96,072
71.677
157,426
30,771
95,825
346,138
82,966
60,690
144,461
1,200,367
234,130
2,016,853
385,978
2,295,272 2,056.126
831,704
887,954
2,249,473
457,094
THE CHRONICLE
392
Jan. 1 to latest
Latest Gross Earnings.
Road.
Week or
Month.
New Orleans Ry & Lt
North Ohio Trac & Lt
North Texas Elec Co.
Northwest Elev Co._
Norf & Portsm Tr Co
Current
Year.
June
June
June
July
May
Oklahoma City Ry._ May
Paducah Tr & Lt Co. June
Pensacola Electric Co June
Port (Ore) Ry, L &P Co July
Puget Sound Elec Co. June
Rio de Janeiro Tram
June
Light & Power
St Joseph (Mo) Ry Lt
Heat & Power Co. July
Sao Paulo Tr, Lt & P
Savannah Electric Co
Seattle Electric Co._
Sou Wisconsin Ry Co
....
....
....
....
June
June
June
June
Tampa Electric Co.. June
Toledo Rys & Light. May
Twin City Rap Tran. 4 th wkJuly
Underground
.
'
....
Previous
Year.
$
496,391
221,673
120,964
179,576
160,492
53,861
19,740
21,763
490,724
166,278
$
479,030
198,203
103,308
160,434
151,598
37,533
18,101
20,126
424,816
162,057
945,454
90,928
241,858
53,610
447,676
16,229
49,895
237,986
213,066
Current
Year.
$
3,160,552
1,087,335
677,620
1,274,946
765,607
227,916
Roads.
Previous
Year.
$
3.041,984
973,941
586,656
Northern Texas Elec Co.June
Jan 1 to June 30
Paducah Trac & Lt Co.June
Pensacola Electric Co. .June
759,016
149.144
Jan 1 to June 30
Portl (Ore) Ry,L & P__July
Jan 1 to July 31
127,788
116,735
Puget Sound Elec Co
3,136,336
2,697,593
1,191,842
St Jos(Mo) Ry, L & P__July
Jan 1 to July 31
852,017
625,793
4,373,570
3.635,879
Savannah Electric Co..June
85,393
184,778
52,134
522,470
14,802
46,639
212,835
202,237
543,998
1.387,425
300,575
503,053
1,188,170
292,552
Seattle Electric Co
85,278
312,383
77,104
293,506
1,085,332
3,883,734
Jan 1 to June 30
June
Wk Aug
Metropolitan Dlst. Wk Aug
United Tramways. Wk Aug
United RRs of San Fr June
Whatcom Co Ry & Lt June
6
6
6
£11,500
£9,892
£9,594
605,189
30,460
£10,895
£8,780
£8,950
597,484
30,605
£399,405
£404,980
£338,748
£195,915
£307.736
£185,967
3,754,861
3,568,905
189,029
200,379
Year.
$
29,091
149,043
$
$
17,189
103,114
6,632
4,263
192,502
1,066
109,705
4,571
26,040
23,770
136,839
106,283
123,392
855,911
572,597
857,430
14,354
7,578
48,292
276,400 def.15,752 def.30,958
21,365
19,990
21,636
106,180
105,425
139,109
7
1,405
17,343
3,107
1,772
102,928
104,363
76,634
105,093
24,375
61,331
135,182
24,670
60,161
128,050
2*8,773
£134,435
£305,733
£64,542
£83,357
£181,064
78,082
174,106
75,238
168,369
21,837
45,727
10,758
20,077
4,533
26,611
8,472
51,862
4,708
27,272
8,085
50,096
16,054
108,884
13.457
94.458
3,768
27,653
4,481
27,741
$
20,162
114,192
6,989
5,052
29,510
148,154
944,927
50,597
302,886
22,874
148,263
18,007
105,678
36,101
856
3.903
22,551
Schenectady Railway—
Apr 1 to June 30
Jan
1 to June 30
July 1 to June 30
Syracuse Rapid Transit Co—
Apr 1 to June 30.
Jan 1 to June 30
of London—
Three tube lines
Tampa Electric Co
.
..June
Jan 1 to June 30
Whatcom Co Ry & Lt__June
Jan 1 to June 30
x
e
June
Jan 1 to June 30
927,754
1,219.221
4,257,896
Previous
Current
Year.
LXXXXI
-Bal. of Net E'ngs.Current
Previous
Year.
Year.
—Int., Rentals, Ac.—
date.
Ry
El
[VOL.
After allowing for other Income received.
These figures are for consolidated company.
Electric Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
ANNUAL REPORTS.
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of July 30 1910.
The
next will appear in the issue of Aug. 27 1910.
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 30.
The next will appear in that of Aug. 27.
Gross Earnings
Current
Previous
Year.
Year.
,
Roads.
Brockton & Plym’th.b.June
Jan 1 to June 30
Cape Breton Elec Co. b. June
Jan 1 to June 30
Columbus Elec Co.b
June
Dallas Electric Corp. b_June
Jan 1 to June 30
El Paso Electric Co.b.-June
Jan 1 to June 30
Ft Wayne&Wab Vail. b. June
Jan 1 to June 30
Galv-Hous Elec Co.b.-June
Jan 1 to June 30.
Houghton Co Tr Co.b.-June
Jan 1 to June 30
!
May
Honolulu R T & L Co.b.June
Jan 1 to June 30
Jacksonville Elec Co.b.June
Jan 1 to June 30
Northern Texas Elec.b.June
Jan 1 to June 30
Pad Trac & Lt Co.b
Pensacola Elec Co.b
June
2,802
12,726
22,788
108,729
10,765
53,474
7,766
36,034
186,339
12,899
35,883
225,270
19,375
110,729
45,293
257,820
47,997
229,479
14,355
62,734
17,140
17,319
93,850
16,944
96,685
46,280
252,157
7,488
8,834
49,810
229,675
1,430,027
55,870
245,442
41,626
244,534
18,748
106,035
209,456
110,444
189,997
428,790
85,465
136,701
293,820
30,911
19,435
103,593
607,589
33,069
214,976
47,075
283,565
17,815
135,231
52,157
307,478
42,056
212,461
12,174
66,007
18,592
18,497
104,328
21,816
134,153
56,263
306,694
8,055
8,955
52,061
284,993
1,800,838
64,951
287,134
115,981
648,655
105,803
572,726
27,538
150,115
34,726
34,689
197,684
38,391
234,130
103,308
586,656
424,816
2.697,593
162,057
Jan 1 to June 30
Savannah Elec Co.b
Jan 1 to June 30
June
Seattle Electric Co.b
June
927,754
852,017
90,928
543,998
85,393
503,053
53,610
300,575
447,676
52,134
292,552
522,470
294,558
546,069
1,112,340
247,594
449,128
931,205
44,239
254,443
18,014
107,450
Schenectady Railway, b—
Jan 1 to June 30
July 1 to June 30
Syracuse Rapid Transit, b—
Apr 1 to June 30
377,396
736,250
Jan 1 to June 30
June
49,895
312,383
Jan 1 to June 30
United RRs of San Fr.b.June
605,189
Jan 1 to June 30.
3,754,861
Whatcom Co Ry & Lt.b.June
30,460
Jan 1 to June 30
200,379
_
„
a
Net earnings here given
are
349,246
677,182
46,639
293,506
597,484
3,568,905
30,605
189,029
99,919
219,699
20,587
135,495
254,888
1,575,914
12,240
79,515
85,996
188,313
18.165
121,730
252,684
1,483,572
12,566
77,837
after deducting taxes,
deducting taxes.
—Int., Rentals, Ac.—
Current
Year.
-Roads.
1,945
1,930
1,173
def. 3 53
June
1,760
10,709
6,144
30,406
1,672
11,370
1,174
def.1,742
1,130
1,356
6,144
30,209
4,621
23,068
1,622
5,825
17,615
12,838
1,820
61
28,833
169,700
6,464
59,307
7,050
55,570
7,943
47,468
9,620
84,819
11,432
63,261
43,110
249,046
21,419
126,126
7,345
38,098
24,324
80,994
5,857
28,560
£12,474
£12,526
£69,723
2,183
8,774
Cape Breton Electric Co .June
Jan 1 to June 30
Columbus Electric Co. .June
Dallas Electric Corp
June
Jan 1 to June 30
El Paso Electric Co
June
Jan 1 to June 30
Ft Wayne & Wab Vail..June
Jan 1 to June 30
Galv-Hous Electric Co. .June
Jan 1 to June 30
Houghton Co Trac Co. .June
Jan 1 to June 30
Honolulu R T & Lt Co. .May
■
■
*
June
Jan 1 to June 30
Jt?ksonvllle Electric Co.June
Jan 1 to June 30.
Previous
Year.
—Bal. of Net E'ngs.—
Current
Previous
Year.
Year.
June
Jan 1 to June 30
'
1909-10.
567
1908-09.
568
1907-08.
568
311
102
299
101
300
99
16,342
15,311
15,459
210
114
112
1,586,838
47,802,085
1,520,119
44,914,997
1,619,635
50.680,253
2.063 cts.
1.976 cts.
1.854 cts.
6,526,087
578,380
10,170,483
5,186,043
301,386
8.008.990
5,849,240
476,886
8,933,599
Road operated June 30
Equipment—
Locomotives
Passenger cars
Freight cars
Service
cars
Operations—
Passengers carried
Passengers carried one mile
Rate per passenger per
mile
Tons of bituminous coal carried
Tons of coke carried
Total tons (all freight) carried.
_
154.6
155.4
145.1
Average distance haul 1 ton m_
Freight (tons) one mile
1, 572,897,173 1,244,946.097 1.296,618.957
0.481 cts.
Rate per ton per mile
0.482 cts
0.489 cts.
INCOME ACCOUNT FOR
YEAR ENDING JUNE 30.
Operating Revenues—
Passenger
Freight
Mall, express and miscellaneous
Other operations
Total operating revenues
Operating Expenses—
Maintenance of way and structures
Maintenance of equipment
Traffic expenses
26,605
155,669
8,195
50,412
44,812
269,380
17,729
131,467
6,317
37,447
6,658
6,610
38,100
9,344
54,723
6,241
35,115
6,143
■
6,143
36,857
9,288
55,201
Total operating expenses
Net operating revenue
Net revenue outside operations
12,472
79,430
26,578
103,353
8,114
27,619
£11,637
£11,816
£60,716
7,656
41,484
$939,834
6,338,934
127,055
78,205
$8,936,117
$7,171,897
$7,484,028
$769,037
$951,201
1,721,845
155,332
1,538,191
101,259
2,095,212
161,472
$5,903,905
$3,032,212
$4,665,171
$2,506,726
95,769
2,424,529
157,316
def.634
$5,350,660
$2,133,368
3,229
$3,029,858
188,095
$2,506,092
$2,136,597
133,000
175,248
$2,841,763
$2,373,092
$311,211
$239,533
$1,961,349
$609,456
129,269
12,485
86,205
13,210
91,222
19,976
72,174
13,908
126,620
12,609
.$3,394,143
$2,809,905
$2,787,451
$364,500
259,714
16,853
1,126,415
$364,500
267,086
16,009
1,103,664
12,484
13,203
Operating Income
Rents—hire of equipment
Rents—joint facilities
Dividends on stocks owned—
Interest on securities, loans & accounts
Miscellaneous
lease of other roads.
Rents—joint facilities
Rents—miscellaneous
Interest accrued on funded debt
Interest on bills payable
$368,922
289,852
18,307
1,168,121
21,568
Appropriations for pension fund
New
Total
Balance
1907-08.
$887,625
6,001,572
182,596
100,104
def.2,354
—
Total
Dividends on common stock
1908-09.
2,551,197
Taxes accrued
equipment
Retirement of equipment bonds
Dividends on preferred stock (6%)
1909-10.
$986,370
7,562,259
237,010
150,478
$1,220,190
1,857,017
120,169
Transportation expenses
Deduct—
Rents accrued for
Interest Charges and Surplus.
__
OPERATIONS AND FISCAL RESULTS.
Total net Income
b Net earnings here given are before
Baton Rouge Elec Co
Brockton & Plymouth
(Report for Fiscal Year ending June 30 1910.)
The remarks of President Adrian Iselin Jr. are given in
full on subsequent pages.
The figures of earnings, expenses, balance sheet, &c.,
have been compiled for several years as follows.
General expenses
Apr 1 to June 30
Tampa Electric Co.b
Buffalo Rochester & Pittsburgh Railway.
1,577
10,750
12,557
55,136
Portl (Ore) Ry.L&P.b. July
490,724
Jan 1 to July 31
3,136,336
Puget Sound Elec Co.b.June
166,278
StJos(Mo) Ry,L,H &P_ b. July
Jan 1 to July 31
$
3,118
18,260
2,934
8,967
18,101
20,126
116,735
Jan 1 to June 30
$
7,748
45,468
21,763
127,788
June
Previous
Year.
$
$
8,942
52,083
10,418
49,440
25,755
128,575
37,295
114,514
682,282
45,224
309,238
125,266
723,618
109,083
609,130
26,752
150,995
38,428
37,866
221,557
46,409
283,471
120,964
677,620
19,740
Baton Rouge Elec Co. b. June
Jan 1 to June 30
Net Earnings
Current
Year.
12,696
125,000
77,417
190,000
360,000
(4%)420,000
360,000
360,000
(4)420,000
(5)525,000
$2,974,466
$419,677
$2,559,966
$249,939
$2,649,462
$137,989
deductions
transferred to profit and loss.
GENERAL BALANCE SHEET JUNE 30.
1910.
A. ssets—
Road and equipment
Other Investments.^
Cash
Securities held in treasury
Traffic balances
Agents and conductors
Materials and supplies
Other working assets
Advances
Special deposits
Sinking, Insurance, &c., funds
Other deferred debit Items
Total
$
040,246,493
189,008
2,657,335
C709.000
34,864
816,037
1,194,859
374,458
148,885
1909.
$
37,911,033
189,008
2,082,919
1,000
32,212
637,373
690,785
304,656
159,437
159,45(1
414,577
66,467
2,695,710
-B47.011.433
44.741.873
37,740
AUG. 13 1910.
THE CHRONICLE
Liabilities—
Common stock
Preferred stock
Funded debt held by public (see “R. & I.” See.).
Bonds In treasury
Loans and bills payable
Traffic balances
Vouchers and wages
Other working liabilities
Interest, dividends, taxes, &c., accrued
Deferred credit items
Appropriated surplus
Profit and loss
1910.
$
1909.
10,500,000
6,000,000
22,847,000
Total
67,933
564,763
12,110
286,094
318,619
312,322
367,574
2,177,354
47,011,433
b Other
44,741,873
equipment, $936,939.
on
investments
RESULTS FOR FISCAL
Include
$179,008 Ontario Car Ferry Co. stock
(pledged) and $1Q,000 Avonmore & Northern HR. stock (unpledged).
c $709,000 B. R. & P. Ry. consol. M. bonds.
d Appropriated surplus includes additions to
property since June 30
1907, through income, $190,000, and reserves from income or
surplus,
for equipment, $125,000.—V. 91, p. 276.
Aver g
1909-10.
9,760.73
miles of?road operated.__
Transportat ionfaperations—
Gross operating revenues
Oper.
Revenue over expenses & taxes.
Deduct fixed &|other charges
other
from
than
portation operations
Extra dividend (300%)
Fargo & Co. stock
1910.)
1908-09.
9,626.43
1907-08.
9,505.61
..$135,022,607 $120,521,909 $123,276,921
87,784,222
79,584,375
88,613,192
expenses and taxes
Income
30
YEAR, INCLUDING PROPRIETARY COS.
Surplus
a Includes investment in road
June 30 1907, $23,678,369, and in
equip¬
ment, $10,893,995; investment since June 30 1907, in road,
$2,436,975,
in equipment, $4,179,661; less reserve for accrued
depreciation on road
$5,568, and
Company. *
{Estimate~of Income for the Year ended June
1,868,000
<2315,000
2,622,311
,
Southern Pacific
$
10,500,000
6,000,000
24,899,000
C709.000
159,450
105,970
912,986
107,820
393
$47,238,385
22,545,208
$40,937,534
19,394,942
$34,663,729
$24,693,177
$21,542,592
$15,864,966
6,178,010
5,272,349
3,993,748
$26,814,941
$4,992,106
12,344,604
$19,858,714
$5,240,652
11,870,956
$9,478,231
$2,747,106
trans¬
on
Wells,
18,798,763
4,590,000
Total for dividends...
*$35,461,187
Preferred stock dividends (7%)..
a None.
Common stock div. (6%)
b
abt. 16.350,000
Balance, surplus
$19,111,187
The $74,756,765 preferred stock was called for
payment on July 15
1909 and practically all exchanged for common stock,
b Approximate
amount of common stock dividends
supplied
by
“Chronicle”—not
given
in official statement.
a
Lehigh Valley Railroad.
(Report for Fiscal Year ending June 30 1910.)
On subsequent pages will be found the remarks of
President
E. B. Thomas in full and also the
profit and loss account for
the late year and the balance sheet of June 30
1910, the lastmentioned having been changed in form in
many important
respects, to meet the requirements of the Inter-State Com¬
merce Commission
(compare remarks of President Thomas).
The comparative balance sheets of June 30
1909, 1908 and
1907 were given in V. 89, p. 914.
Below are the comparative
figures of operating results and income account for several
*
Per Cent of
Total
-V.
Average miles operated.
Oper. revenue per mile.
1906-07.
1,443
$25,112!
$24,530
$24,612
Net earnings per mile
$10,056»
$8,689
$9,117
No. passengers carried..
5,172,961
4,876,801
4,926,204
5,181,533
No. pass, carried 1 mile.247,596,196i
223,306,381 247,034,678 250,459,508
Aver, distance each pass.
‘
carried (miles)
rev. per pass, per m.
47.861
Av.
Pass. rev. per train mile.
Av. No. pass. In each tr_
No. tons carr. (rev. fgt.)
Tons 1 mile (rev. fght.)*
Freight train mileage
Average rev. per ton per
mile (revenue freight)
Freight train earnings
(rev.) per train mile.
Average No. tons In each
45.79
1.749 cts.
50.15
1.684 cts.
48.34
1.742 cts.
4,014,782
3.974,526
97.27 cts.
55.62
104.66 cts.
62.15
4,084,695
105.91 cts.
61.32
4,736,558
8,733,264
24,859,205
4,397,809
8,216,419
26,480,161
4,795,038
9,039,177
27,377,356
4,769,130
9,062,057
0.646 cts.
0.639 cts.
0.630 Cts.
0.632 cts.
$3.501
$3.42
$3.34
$3.33
542.36
535.25
530.47
526.27
1.749 cts.
4,150,858
104.32 cts.
59.65i
i
Passenger train mileage.
’
27,181,537
,
.
_
train
*
(revenuefreight)
.
Three 000s omitted.
Revenue from Operation—
Coal freight revenue
passenger
Mall
1909-10.
revenue..
_
revenue
Other transportation revenue.
Miscellaneous
revenue
14,757,799
4,330,172
193,860
462,438
356,165
245,166
1907-08.
13,291,831
3,905,063
209,899
406,226
307,726
185,417
14,011,302
4,159,890
209,073
383,558
290,232
280,819
.$36,167,398 $33,137,832 $35,510,154
Operating Expenses—
Maintenance of way and
Maintenance of equlpmi
.
.
Traffic expenses
Transportation
1908-09.
..$15,821,798 $14,831,671 $16,175,280
revenue
revenue
Express
expenses
.
General expenses
$3,462,903
5,995,810
918,720
10,593,565
713,149
$3,273,339
$3,398,642
6,153,874
778,653
11,342,927
637,940
5,832,430
810,293
9,949,910
709,764
.$21,684,147 $20,575,736 $22,312,036
Per cent Oper. expenses to
revenues.
(59.95%)
(62.09%)
(62.83%)
.$14,483,251 $12,562,096 $13,198,118
1,106,762
1,079,376
1,122,867
_
.
$13,376,489 $11,482,720 $12,075,250
Other Income—
Outside operations:
Water lines
Other operations
Investments:
Dividends on
Interest
Interest
.def.$143,801 def.$150,019
.
stocks
bonds
on
real estate mortgages
on
Miscellaneous
_
.
$213,917
def. 2,532
def. 3,269
2,673
544,946
24,860
15,933
678,229
436,773
42,814
15,604
362,677
555,840
48,945
17,034
790,941
$1,117,635
$704,580
$1,629,350
.$14,494,124 $12,187,300 $13,704,600
Deductions from Income—
Interest on funded debt
$3,544,060 $3,536,060
Interest on equip, trust obligations.. $3,609,393
190,716
245,903
209,068
Rentals of leased lines and guaranties
!S
2,316,473
2,316,473
2,316,473
Miscellaneous deductions
240,141
237,061
272,425
Additions and betterments
843,877
582,643
1,775,264
Total deductions from Income
$7,200,600
$6,926,140
$8,109,290
$7,293,524
$5,595,310
$5,261,160
*1,136,543
*375,452
388,606
.
.
.
.
Dividends
Dividends
$8,430,067
$10,630
(6%)__
2,420,088
_
on
preferred stock (10%)
on
common stock
.
.
it T*1?
$2,430,718
$5,999,349
$5,636,612
$10,630
2,420,088
$5,983,916
$10,630
2,420.088
$2,430,718
$2,430,718
$d,£Ud,OU4
$3,205,894
$0,000,1^0
$3,553,198
ne^ income of the Coal Co. shown above Is not added to that of the
railroad company in the Income
account as given In the reports for 1909-10
ls here shown for
purpose of comparison with the year
1907-08.—V. 91,
p.
276, 94.
1909-10.
1908-09.
1907-08.
1906-07.
Oper. expenses
$8,578,783
& taxes.. 6,093,840
$8,290,170
5,832,261
$8,121,494
5,588,300
$8,202,361
5,644,346
Net earnings
Other income.
$2,484,943
$2,457,909
392,089
$2,533,194
$2,558,015
464,824
453,717
359,475
Net
Income______ ...$2,844,418
Interest, rentals, &c. ...$1,531,620
Dividends (2
Balance, surplus
—V. 91, p.
39.
..
1909.
9.06%
7.90%
2.25%
1.68%
1.94%
13.00%
9.84%
Union Pacific Railroad.
{Estimate of Income for the Year ended June 30 1910.)
Gross
FOR
THE
SYSTEM
revenue
Operating
*
THE
Operating income
Total income
Fixed and other
Income In
of
YEAR.
1907-08.
^..$40,028,880 $38,234,814 $31,900,464
16,137,604
15,830,962
16,513,937
2,825,003
1,905,431
df.494,246
$58,991,487 $55,971,207 $47,920,155
13,281,888
14,372,806
12,200,755
charges
excess
FISCAL
1908-09.
$90,228,092 $78,750,461 $76,039,225
50,199,212
40,515,647 44,138,761
and taxes
expenses
Income from investments
Other income
charges.
$45,709,599 $41,598,401 $35,719,400
_
Preferred dividends (4%)
3,981,760
Surplus for
common stock
DIvs. on com. stock (10%)..*
*
FOR
1909-10.
Supplied by “Chronicle,”
approximately correct.
3,981,824
3,981,858
$41,727,839 $37,616,577 $31,737,542
19,678,327
19,548,790
about 21,000,000
not furnished
by company—believed
to be
The $41,727,839 available for common stock dividends
derived as follows:
$22,765,232 from
transportation
operations, equivalent to 10.51% on common stock, and
$18,962,607 income from investments, equivalent to 8.76%
on common
stock, making a total of 19.27% earned on the
common stock.—V.
90, p. 700.
Chesapeake & Ohio Railway.
{Preliminary Statement for Year ending June 30 1910.)
Operating Revenues—
Freight revenue._■
Passenger revenue
1909-10.
5,002,206
1,146,340
187,423
Other transportation revenue.
Non-transportation
1908-09.
1907-08.
.$24,901,200
$24,901,200 $20,885,511 $19,571,609
revenue
Total.
$3,391,032
5,858,842
Traffic expenses
Transportation expenses
General expenses
535,207
8,509,434
642,183
^
Deduct fixed charges and taxes, less
other Income
—V. 91, p. 153.
5,120,528
1,023,047
128,086
$31,237,169 $26,630,717 $25,843,272
Operating Expenses—
Maintenance of way and structures..
Maintenance of equipment
Surplus for dividends, &c
4,482,004
1,138,699
124,502
$3,101,150
4,938,938
466,042
7,328,683
532,023
$3,135,354
5,369,463
470,956
7,770,757
440,215
$18,936,699 $16,366,837 $17,186,747
$12,300,470 $10,263,879
$8,656,525
.
6,009,984
6,251,752
5,872,138
$6,290,486
$4,012,127
$2,784,386
Erie Railroad.
{Preliminary Report for Fiscal Year ending June 30 1910.)
1909-10.
Gross operating revenue
expenses and taxes
Operating
I
Other Income
I
Deductions—
Interest, rentals, &c
Additions and betterments
1908-09.
Increase.
$54,866,190 $50,441,161
39,100,332 36,904,285
$4,425,029
2,196,047
$15,765,858 $13,536,876
4,371,617
3,276,003
$2,228,982
1,095,614
$20,137,475 $16,812,879
$3,324,596
$14,330,931 $13,865,235
$465,696
737,087
381,927
355,160
Surplus
$5,069,456
$2,565,717
$2,503,739
The gross operating revenue and
operating Income as above compare
with $49,784,236 and
$8,752,540 respectively in 1907-08. As the figures
for 1907-08 after op rating Income, made
up In accordance with the new
method of accounting, were not given in last
year’s pamphlet report, no
further comparison with the figures for that
year is attempted.
Compare
V. 89, p. 1064.
The company states that the
gross earnings for the late
year are the largest In Its history and the net the
best
since 1903, which
was an exceptional
year.—V. 90, p. 1613.
Railway.
{Statement for Fiscal Year ending June 30 1910.)
{Statement for the Year ending June 30
1910.)
^
859.
St. Louis Southwestern
New York Ontario & Western
Railway.
Gross earnings
1910.
were
ACCO UNT.
Merchandise freight
90, p.
RESULTS
1907-08.
1,447
Capital Stock (about $272
...
OPERATIONS.
1908-09.
1,446
$22,922
Outstanding
000,000).
on
From transportation operations
Income other than from transportation
operations (ex¬
cluding extra dividend on Wells, Fargo & Co. stock)
Extra dividend on Wells, Fargo & Co. stock
years:
1909-10.
1,440)
[Surplus Earned
1,162,328
$2,849,998
$1,506,871
1,162,322
$2,998,018
$1,477,429
1,162,308
$3,011,732
$1,356,949
1,162,302
$150,470
$180,805
$358,281
$492,480
Operating revenues
Operating expenses
1909-10.
and taxes
Operating Income
Other Income
Total net Income
Fixed charges, rentals, &c
Int. on 2d mtge. bonds
Dividend on pref. stock
Balance, surplus
-V. 90, p. 1491.
or
deficit.
1908-09.
$10,986,516 $10,331,889
8,528,372
8,065,956
1907-08.
$9,598,264
7,879,110
$2,458,143
$2,265,933
545,121
$1,719,154
477,544
742,171
$3,003,264
$2,065,098
abt. 121,166
(5)094,682
$2,743,477
$2,019,308
$2,461,325
$2,011,080
130,420
126,080
(2)397,873
def.$177 ,682sur .$200,216sur .$319,824
THE CHRONICLE
394
[VOL.
United States Motor Go.
Canadian Pacific Railway.
{Statement for Quarter ending June
(Statement for Year ending June 30 1910.)
follows:
The results for the fiscal year were as
1908-09.
1909-10.
1907-08.
1906-07.
__$94,989,490 $76,313,321 $71,384,174 $72,217,528
Operating expenses
61,148,534
53,357,748
49.591,808 46,914,219
Net earnings
.$33,840,956 $22,955,573 $21,792,366 $25,303,309
Int. rec. and SS. earns._
3,334,713
2.306,488
2,364,480
2,654.633
Total net Income
$37,175,669 $25,262,061 $24,446,999 $27,667,789
Fixed charges.
$9,916,941
$9,427,033
$8,770,077 $8,511,756
For SS. and pension fund
980,000
880,000
880,000
780,000
Dlv. on common..(6V^%)9,750,000 (6)9,000,000 (6)7,300,800 (6)7,300,800
DIV. on preferred (4%).
2,632,728
2,107,867
1,916,407
1,736,228
Balance, surplus
$13,896,000
$3,847,161
$5,579,715 $9,339,005
•Also 1% extra paid In 1906-07, 1907-08, 1908-09 and 1909-10 from
Interest on land sales, viz.: **% April 1 and ^% Oct. 1.
As to Increase In
dividend rate see Item on a subsequent page.—V. 91, p. 1674.
Cross
earnings.
Missouri Kansas & Texas Railway Co.
Mileage operated
1907-08.
1908-09.
3,072
$
3,072
$
23,283,670
16,432,108
revenues
expenses
3,072
$
26,559,346
19,186,049
Net operating revenue
Taxes accrued
7,373,297
1,012,918
7,633,509
6,360,379
70,171
227,700
6,666,200
65,615
115,820
6,163,319
6,658,250
4,801,355
6,544,742
4,658,628
31,434
11,032
99,080
705,320
520,000
6,847,635
4,770,634
3,318
79,701
77,278
530,408
520,000
6,136,787
5,981,339
52^,463
5,717,468
*866,296
827,274
Gross operating
Operating
Operating Income
Rentals and hire of equipment
Miscellaneous income
Total net Income
Interest on bonds
Interest accrued on equipment notes.
Other Interest
Hire of equipment
Rentals
Dividend
on
preferred stock (4%)__
Total deductions...
Balance, surplus
25,300,915
17,667,406
967,309
6,851,562
688,243
There was deducted from the surplus as above In 1908-09 $433,412 for
additions and betterments In Texas against $546,444 in 1907-08, and for
during year
additions and betterments made outside State of Texas
ending June 30 1909 $948,516, which was charged to improvement fund
north of Red River; the amounts deducted for similar purposes in 1909-10
are not stated.—V. 91, p. 336. 94.
•
Coal Company.
{Report for Fiscal Year ending June 30 1910.)
This company is a subsidiary of the Lehigh Valley RR.
See report on a following page.
Pres. E. B. Thomas, Philadelphia, Aug. 9 1910, wrote
The Lehigh Valley
in substance:
General Results.—The net income from operations amounted to $1,136,543, an Increase of $761,091. The total production of anthracite coal
from lands owned and controlled by The Lehigh Valley Coal Co. and
affiliated companies was 8,092,940 gross tons, an Increase of 358,862 tons,
or 4.64%.
The percentage of sizes above pea produced from the mining
operations was 64.54%, an Increase of 1.6%. The bituminous coal mined
from the Snow Shoe property amounted to 234,978 gross tons, as against
288,457 tons last year.
The Improved earnings are In the main due to the Increased sales of coal
and to the fact that the mining has been so conducted as to counteract
wherever possible the constantly Increasing cost of operation naturally
the underground workings.
Improvements.—The marked Increase In the percentage of prepared sizes,
greater tonnage from smaller and inferior veins,
emphasizes the Importance of continuing the policy of re-modeling breakers
so as to Improve the preparation.
Substantial progress has also been
resulting from the greater depth and extension of
notwithstanding the
Installation of electric or com¬
pressed-air haulage systems, erection of modern power plants and the
Improvement of machinery and appliances generally. The total expendi¬
tures for additions and betterments, which were deducted from Income
or accounts other than cost of mining, amounted to $369,788.
Acquisitions.—The Stevens Coal Co., which had been operating on lands
leased from your company, desired to surrender their lease.
Accordingly
the same was canceled and your company purchased the breaker plant and
other Improvements on a royalty basis and assumed $61,000 Stevens Co.
bonds, which were taken up and are now In the treasury.
Your company further has taken over the operations of the Buck Moun¬
tain and Vulcan collieries, heretofore conducted by the Mill Creek Coal Co.
That company had been mining from our lands under a lease which expired
Jan. 1 1910.
Such of the plant as would meet modern requirements was
made in the concentration of operations,
Surchased.
A new concrete
steel breaker
is being constructed
at Buck
fountain, together
with the and
necessary
engine-houses,etc.,
all of fire-proof
construction.
When completed It will prepare the coal now handled by
the two old breakers, the lease of which will be surrendered.
Bonds.—$342,500 Snow Shoe bonds were paid off Jan. 1 1910 and the
mortgage satisfied of record.
The sinking fund had produced a fund
sufficient to retire more than a majority of the bonds, the balance being
taken out of current cash.
The property under this mortgage, consist¬
ing of bituminous coal lands located in Center County, Pa., is now free
from encumbrance.
The sinking fund under the Delano Land mortgage has reached a total In
excess of the outstanding bonds secured by the mortgage and a petition Is
1910.)
I.
($128,261)
Balance, surplus,
210,991
as per
$1,589,303
balance sheet
GENERAL BALANCE SHEET JUNE
Assets
chinery & equipment of
plants at cost of conoiii
ii,
pci
icucuii
ap¬
praisals
Securities of selling cos..
Patents, contracts and
1910.
1
Liabilities• ($27,758,477).
Preferred stock
$8,885,950
Common stock
10,723,675
($27,758,477).
Real estate, bldgs., ma¬
$5,935,041
495,240
Subscrip, ctfs. for pf. stk.
Outstanding stock of con¬
stituent companies
Purchase mtges. and bal.
payable on plants
Notes payable
Accounts payable
Customers’deposits
Accr’d wages & expenses
10,723,675
Prepaid manufac. exps._
43,615
Materials at cost
6,218,730
Consignments at cost
187,395
Accounts receivable
1,988,772 Total reserves
Notes receivable
324,712 Surplus
Cash on hand & In banks.
1,841,297
names
753,200
224,300
231,753
2,140,989
1,501,626
*768,784
117,838
y821,059
1,589,303
x Of the customers’ deposits ($768,784), $481,250 is “covered by par¬
ticipating debentures.”
V Total reserves Include $687,073 for depreciation of plants, $5,724 for
doubtful accounts and $128,261 for preferred dividend payable Aug 10 1910.
—V. 90, p. 1682.
61,160
320,263
507,406
520,000
1
RESULTS FOR THREE MONTHS ENDED JUNE 1 1910.
Net Income from operations
$1,800,294
Less preferred dividend, paid May 10 1910 ($82,730) and ac¬
crued proportion of pref. dividend payable Aug. 10 1910
trade
(Preliminary Report for Fiscal Year ending June 30 1910.)
1909-10.
LXXXXI
British Columbia Packers’ Association.
{Report for Fiscal Year ending June 30 1910.)
General Manager Wm. H. Barker, Vancouver, B. C.,
July 15 1910, wrote in brief:
Change of Incorporation.—We have incorporated under the laws of?BrItlsh
Columbia, so as to avoid the heavy New Jersey taxes, also the new U. S.
corporation excise tax of 1% on net earnings. Nearly all the s a'eholders
consented to the change, and most have already exchanged their certificates
for new ones; we are now a British Columbia corporation.
The costs of
change have not yet been paid.
We operated 22 canneries—15 on the Frazer River and 7 In the north,
and one cold-storage plant.
Our pack was 292,578 cases, besides the usual
quantity of mild cured salmon, fresh and frozen halibut and salmon.
Prices
for canned salmon started low, but Improved later, when It was k lown that
the pack would be smaller than expected.
Hatcheries.—Our Nlmpkish Hatchery liberated 5,055,000 sockeye fry.
All other hatcheries—both Dominion and one Provincial—turned out a
large quantity of sockeye fry.
The natural spawning grounds were also
well seeded, particularly those of the Fraser River.
Cold Storage.—We have purchased the steamer “Roman” to supply hali¬
but for freezing and fresh shipments; she Is the finest vessel in the business
and Is doing very well.
Owing to there being three Canadian vessels fish¬
ing for halibut, the limited market is kept well supplied and prices are lower.
Acquisitions.—We have purchased two more canneries on the Skeena
River—the “Dominion” and “Alexandra”—and have rebuilt the “Cunning¬
ham” cannery.
Preparations.—As the “big run” failed to materialize on the Fraser River
empty cans; we have made
200,000 cases. Stocks are
light everywhere, in consequence the demand good.
Finances.—Are in good shape.
Preferred shareholders have received all
their back dividends, neing paid up to date.
We have redeemed 749 shares
of preferred stock from surplus funds, in accordance with our articles of
Incorporation.
The balance sheet shows a net profit of $356,527, after deducting $45,123
for depreciation.
We have on hand and consigned salmon valued at
$83,835, and have used in preparation for 1910 pack (including amount
Inventories of materials) $641,134.
Stock of fish in cold storage was $30,946, and sundry accounts due us $32,826.
We owed the banks June 30
$253,198; outstanding accounts same date, $11,528.
We paid during the
dividends
to
year 24% in
preferred shareholders and now paid up to date.
The surplus account includes the profit and loss account and transactions
of the old association up to May 21 1910, less the allocation of $150,174
last year, we carried over about 100,000 cases
that quantity, so are prepared for a pack of
to
preferred share redemption fund and adjustments incidental to realiza¬
tion 1909
pack.
BALANCE
Assets—
Bldgs.,
SHEET
1910
1909.
$
$
machinery,'!
{
8,278
\
Ltd
Nimpkish Hatchery.
147,814
92,845
Sundry debtors
Salmon—consigned
and on hand
Alert Bay saw mills.
Sundry advances
7,000
32,826
7,000
22,348
83,835
66,811
42,774
641,134
762,781
buildings
Total
*
30.
1910.
$
Liabilities—
3,443,058 3,568,220
1909.
$
1,511,400 1,511,400
Ordinary shares
f
boats, &c
I
|2,485,102
Columbia cold st’ge)2,487,675(
123,055
B. C. traps, sites, j
|
Packers’SS. Co.,
JUNE
1
Pref. shares A
Pref. shares B
J *1,195,100 1,270,000
Due Bank of Montreal
and Canadian Bank
of Commerce
253,198
250.494
Sundry creditors
11,528
Insurance reserve...
Pref. shares redemp¬
tion fund..
Profit and loss
17,761
47,297
15,209
83,983
370,088
473,820
Total
$1,270,000 less $74,900 series “B” redeemed.
.3,443,058 3,568,220
Compare V. 90, p. 449;
„
now before the Supreme Court of Pennsylvania seeking the discontinuance
of further payments into the said fund.
The usual sinking fund payments, as required by the various mortgages,
have been made and amount to $133,075 for the year.
Current assets are $5,680,512 in excess of current liabilities, a net Increase
over the preceding year of $732,362.
PROFIT AND LOSS ACCOUNTS FOR YEARS ENDING JUNE 30.
1909-10.
Net income for year
1908-09.
1907-08.
$1,136,543
$375,452
$37,863
$388,606
$91,016
15,998
41,537
108,609
Total
$15,998
Balance to surplus
$1,120,545
Total surp., beginning yr_ 2,272,897
$79,400
$296,052
1,976,845
$2,272,897
Deduct—Royalty settle’ts
For Improvements
Mlsc. adjustments
Total surplus, end year.$3,393,443
1906-07.
$111,250
$250,000
47,838
$199,625
$297,838
$188,981 def.$186,588
1,787,864
1,974,452
$1,976,845
$1,787,864
CONDENSED GENERAL BALANCE SHEET JUNE 30
1910.
$
-
A.
1909.
§
Property & plant. 18,971,963 18,639,021
Securities owned..
100,000
Sink. Id. with trus. 1,916,426
Advances for coal¬
100,000
1,867,088
mining rights... 4,869,137
on deposit &
792,195
Stock coal on hand 3,959,225
4,893,929
304,82S
314,563
Cash
338,700
4,815,032
in transit-
Materials and supp
Bills recevable
Due from indiv’ls
and companies.
Insurance & other
deferred assets.
Total
—V. 90, p.
49,692
56,464
4,056,217 Depr. & other
4,841,948
Profit and loss
86,118
,
45,3 28
35,898,304 35,119,570]
1617.
Liabilities—
Capital stock
Funded debt
]
Certs, of indebt
]
Audited vouchers.
Wages due& unpd.
Due indiv’ls & cos.
Royates on coal
mined,due lessors
Interest on funded
debt, accrued..
Miscellaneous
Total
res.
1910.
s
1909.
s
,965,000
1,965,000
,796,000 13,138,500
,537,000 10,537,000
,234,510 3,638,529
417,068
392,703
154,191
201,414
34,70S
56,360
313,900
672,931
1,379,553
1,393,443
322,462
446,163
2,148,540
2,272,897
,89S,304 35,119,570
Particulars from Bill of 1910. Incorporating Company Under Laws of
British Columbia.
authorized capital stock Is $4,000,000, divided into shares of
$100 each: 15,000 shares are preferred stock and 25,000 shares arc common
stock.
The pref. stock shall be entitled to receive in each year out of the
net profits, whenever declared by the board of directors, a fixed cumulative
preferential dividend of 7% per annum, but no more. Upon the dissolu¬
tion of the company, or upon a distribution of its assets, whether voluntary
or forced, the pref. stock shall be entitled to be paid the amount thereof
in preference and priority to the holders of common stock, but, save as
aforesaid, the holders of the said preference stock shall not be otherwise
entitled to share in profits or assets.
The total
Upon any increase of capital, the company is to be at liberty to issue any
shares with any preferential, deferred, qualified or special rights, priv¬
ileges or conditions attached thereto.
. fg
The issue or redemption of preference shares shall be regulated as follows:
(a) The preference shares shall be equally divided into two series, namely
“A” and “B.”
(b) Series “A” shall at any time before redemption or pur¬
new
chase, as hereinafter provided for. be.atthe
Into ordinary shares, share for share; but
have no such right.
All of series “B” and so many of series
option of the holder, convertible
the holders of series “B” shall
“A” as are not converted Into
ordinary shares may be purchased or redeemed by the company.
The
company shall have the right from time to time, in the discretion of the di¬
rectors, to use any funds of the company, including the reserve fund, in
purchasing from the holders thereof in such manner as the directors may
price not greater than par with a premium of 15%, any shares
of preference stock of series “B”, and after the purchase or redemption of
the whole of the preference shares of series “B”, then In purchasing from
the holders in said manner and at said price any preference shares of series
“A.”
All shares so purchased to be canceled.
The company shall also have the right to redeem the preference stock
series “B” at a premium of 15% on the par value thereof on any day on
which a dividend thereon shall be payable, on giving 20 days’notice; and
in the same manner, after the retirement of all the “B” shares, may re¬
deem any pref. shares series “A” not previously converted into common.
After payment of the cumulative dividends of 7% on the preference
shares, 25% of the balance of net profits in every year shall be set aside as
a reserve fund and applied annually in the purchase or redemption of prefer¬
ence shares, until the whole of the preference shares shall have been retired
think fit, at a
Au<*. 13
THE CHRONICLE
1910.J
the amount of the said funds equals the amount of preference shares then
outstanding.
The particular shares to be redeemed from time to time shall be deter¬
mined m every case by lot.
Until one-half of the total issue of preference shares shall have been pur¬
chased or redeemed, the directors shall not pay dividends on the common
shares to an amount exceeding 10% per annum.—V. 90, p. 44 9.
or
,
„
,
(Report for Fiscal Year ending Dec. 31 1909.)
Fortmann, San Francisco, Jan. 18 1910,
President Henry F.
wrote in substance:
Capitalization.—The capitalization remained the same, viz.: $7,500,000
of $100 each; present issue, 57,508 shares;
In treasury. 17,492 shares.
Insurance Funds.—At the close of 1908 the fund showed a credit of
$347,441 and earned $237,835 for 1909. The amounts charged for losses
and expenses aggregate $26,787.
The Insurance fund now amounts to
$558,489; of this, $556,688 Is Invested In bonds.
Pack.—The Association’s pack of salmon for the season was about 27%
of the entire Coast pack, as follows:
Sockeye, 159,949 cases; red, 857,232
cases; king, 25,797 cases; coho, 16,860 cases; pink, 264,759 cases; chums,
13,657 cases; total, 1,338,254 cases.
Salt salmon, 6,537 barrels. An
Increase of 177,777 cases over and a decrease of 2,798 barrels from the pack
authorized capital, in shares
of 1908.
Markets.—During the early part of
quiet.
the salmon markets
1909
Since August the demand has been brisk In all
were
countries
except South America.
Plants.—Seventeen canneries were operated, 14 being In Alaska and 3
on Puget Sound.
Current repairs and replacements amounting to $168,738
have been charged to operating cost; Improvements and additions have cost
3123,491.
There has been written off for depreciation $142,907, making
the present appraised value of plants $4,257,486, or $27,397 less than
last year.
Fleet.—The steel barks Star of Holland and Star of Greenland have been
purchased for $122,500.
Two launches and a fire-boat were built at a
of $25,043.
Improvements and repairs cost $176,922.
There has
been written off for depreciation $104,970, leaving the present appraised
value $1,281,700.
The Association now owns nine ships, nine barks, one
barkentlne, 2 schooners and 59 steamers and launches, a total of 80 vessels.
Expenditures in Alaska.—The policy of the Association to assist in the
development of Alaska has been continued, and expenditures exceeding
$250,000 for the year were made in the territory.
The Association main¬
cost
tains six medical stations and all employees and natives are given free
medical treatment and medicines.
Salmon Hatcheries.—The two salmon hatcheries of the Association have
continued operations.
During 1909, from the 40,320,000 red salmon eggs
taken In 1908 at the Karluk salmon hatchery, 36,075,000 fry were liberated
and 45,228,000 red salmon eggs were taken.
From the 24,465,000 red
salmon eggs taken at the Fortmann salmon hatchery In 1908, 22,785,000
fry were liberated and 53,340,000 red salmon eggs were taken In 1909.
In
Alaska the Government continued operating large salmon hatcheries on
McDonald Lake and at Lltnlk, Afognak Island.
Bonds.—During 1909, $287,000 bonds were redeemed and canceled, re-,
ducing the bonded debt $1,322,000.
Profits.—The Insurance fund has Increased $211,048.
The profits for
1909 were $779,729.
Dividends.—A dividend of $1 50 per share on the capital stock of the
corporation has been declared, payable Feb. 10 1910.
RESULTS FOR FISCAL
1909.
Canneries operated
Cases packed
Surplus for
•
year
Assets—
'
1906.
16
247,877
1,160,477
$880,682
217,574
1,100,035
$831,421
221,775
1,044,676
$213,571
211,932
*$779,729
$663,108
$609,646
$1,638
was paid Feb. 10 1910, calling for $86,262.
BALANCE SHEET DEC. 31.
H%
1909.
$ '
1908.
$
Canneries, fishing sta¬
tions, &c
\5,539,186) 4,284,884
Fleet i
/
11,237,850
lnve itorles
1,010,408 1,317,462
Insur. fd. Invest...
556,688
Unexp. insurance
2,210
Accounts receivable. 595,036
289.0S2
Cash on hand
355,564
395,686
Profit and loss
428,440
Total
31.
1907.
16
$1,027,606
A dividend of 1
1908.
16
17
1,338,254
Net profits
Written off
YEAR ENDING DEC.
8,056,882 7,955,644 j
Liabilities—
1909.
$
1908.
$
Capital stock
5,750,800 5,750,800
Bonds
1,322,000 1,609,000
Current Indebtedness
74,304
248,403
Insurance
reserve
fund
Profit and loss
558,489
351,289
“B”
Notes—Speculation in Wheat.—Without a doubt the company owned
one of the finest milling businesses In the
world, capable of making a large
return on Its entire share capital.
For years past strict Instructions had
been given by the directors to the management that no speculations
In
wheat were to be entered Into.
It Is now, of course, evident that such
transactions did take place, and that when losses arose of such magnitude
could not be otherwise met, large Issues of bills were made In this com¬
pany’s name, called “B” notes, which were sold for cash.
The question of
obtaining restitution from those responsible for the loss by these transac¬
tions has peen placed In the hands of well-known
lawyers In Newr York.
Balance Sheet—Deficit £806,077.—The balance sheet
Aug. 31 1909 shows
a debit balance to
profit and loss account of £806,077, made up as follows:
Loss from Sept. 1 1907 to the appointment of
receivers, Aug. 8
1908, including London expenses to Aug. 31 1908
£209,537
*‘B” notes Irregularly Issued and not disclosed In the
369,468
books
Estimated loss on realization of quick assets, £189,009; additional
liabilities on Aug. 8 1908, since ascertained and paid by re¬
ceivers, £17,667; and expenses of receivership, £86,833
293*509
as
Total
.£872,514
Deduct balance at credit of profit and loss on
Aug. 31 1907, after
reversing provision for one year’s preference dividend, since
found to be unearned and not available for
payment, £42,301;
general reserve account Aug. 31 1907, £10,784, and net revenue
from Aug. 8 1908 to Aug. 31 1909,
£13,352; In all
66,437
Net loss to Aug. 31 1909
were
Canton
Company, Baltimore.
(Report for Fiscal Year ending May 31 1910.)
President W. B. Brooks says in substance:
During the fiscal year there have been two dividends declared from
income, namely:
July 1 1909, $1 50 per share, and Jan. 2 1910 $1 50
per share, and an extra dividend of 50 cents a share, making $3 50 per
share
on the stock for the year.
After duly advertising, there were bought on Nov. 15 1909 329 shares
of the stock of the company at an average price of about 99.20.
This
stock was duly canceled, leaving 22,163 shares of stock outstanding.
The bulkhead at the foot of 5th Ave. has been completed.
There have
been deposited behind the bulkhead east of the Lazaretto near 12th Ave.
about 954,000 cu. yds. of material, which has brought this submerged
property up to an elevation of about 7 feet above tide and made available
about 71 acres of land.
The new sewer has been constructed on Eastern Av.
The grading of the old Canton Park has been completed and the low land
lying west of that property has been filled; four blocks of this low land
have recently been disposed of and new dwellings are under
thereon.
The dredging for the bulkhead system east of 8th
construction
S
Is about
This bulkhead, to be built during 1910-11, will give us another
completed.
large piece of water-front Improved.
The grading and paving of Canton
St. was completed and the entire front facing on that street has been sold.
The large factory building on Lakewood Ave. south of Hudson St. has
been leased to the American Cigar Co., which has established a plant there
for the manufacture of cigars.
The branch of the Canton RR. between Bay View Junction and the city’s
large disposal plant at Back River has done a good business. The city
has recently acquired and constructed new buildings on Its propery at
Bay View, and 26th St. has been opened up into this property through our
land to Eastern Ave. at the city’s expense.
The improved condlltons
on Eastern Ave. ought to assist the company in disposing of some of Its
property In the near future.
RESULTS FOR
from—
Ground rents
Farm and lot rents
Wharf rents
House rents
Wharfage, storage and
warehouse
Interest
Sales of sand and gravel,
privileges, &c
Flour’ Mills
Co.—V. 8
over the milling business as from Aug. 8 190
closed for the first period on Aug. 31 1909. Yo
company has received credit for rent at the rate of $100,000 per annum
that date, viz., $106,250, or
£21,907, and credit or allowance of $55,001
or £11*340, for use of this
company’s capital employed In the business fro
Aug. 8 1908 to the time that the
operating company provided Its own caj
$•50,910
11,923
53,389
1,374
1907.
1908,
$49,765
13,145
41,133
1,205
$50,765
13,381
37,087
2,996
2,335
5,967
6,094
4,932
7,674
2,627
1,591
2,063
1,387
1,572
2,516
2,121
1,105
300
55,081
1,500
220,085
3,629
25,545
174,226
2,921
$247,310
$185,738
$344,630
$319,048
$130,288
$61,635
514
7,159
23,580
28,421
(3 H) 78,064
1,263
24,726
26,392
(3)67,476
$143,710
1,496
12,291
24,080
25,434
(2 H) 57,280
34,095
$159,522
737
Total deductions
$268,249
Balance for year
def.$20,939
Balance In bank, begin¬
$182,006
sur.$3,732
$298,386
sur.$46,244
$271,630
sur.$47,418
149,447
145,715
99,471
52,053
$128,508
$149,447
$145,715
$99,471
Sundry
exp.
refunded._
Permanent improvem’ts
refunded
Sales of real estate
Sales of annuities
18,011
99,048.
2,858
Total Income
Deductions—
720
5
Permanent lmpts. acct.,
new
bldgs.,
grading
and Canton RR. Co._
Roads, streets & sewers.
Sundry exp. & repairs._
Salaries, office exp., &c_
State, city & co. taxes..
Dividends
Canceled stock
ning of year
Bal. In
—V.
bank, end of
89, p.
yr.
919
6,008
28,296
25,333
(2 H) 51,552
1070.
Penmans, Limited, Montreal.
(Results for Fiscal Year ending Dec. 31 1909.)
INCOME ACCOUNT.
1909.
Net profits
Deduct—
1908. 1
.$324,140 $191,3341 Depreciation
Div. pref. stock (6%). $64,500
Div. com. stock (4%).
86,024
Accounts written off..
9,325
Assets—
Plant
1909.
$
1909.
reserve
j
$100,000
1908.
$50,000
?64,500|
Total deductions. $259,849
$203,493
86,0241Balance, surplus or
2,969|
deficit
sur.$64,291 def.$12,159
BALANCE
‘n 3une 1909, but
no surplus profits are shown beyond the amou:
operating company retains under the lease before this compar
participate In any surplus profits.
The accounts of the
operating company from the operations of the Ml
neapolls Mill Co. and of the St. Anthony Falls Water Power Co. show
pr°nt, after charging rent, of $134,330.
Before arriving at the abo’
profit the account Is charged as
working expenses with $55,000, the lnte
est allowed to this
company, as stated above, $25,000 as salary to tl
Manager (who Is one of the receivers, and was so
paid under the head of r
celvershlp expenses, as allowed by the Court) and $28,830, stated to be leg
and other expenses for the
organization of the operating company.
Tl
directors contend that these Items are
not proper charges to be made und
the lease before arriving at the
profits In which this company should shar
and, as the operating oempany does not
agree to this contention, only i
far asi $10,000 on the last
item, this company has demanded arbitration,.
provided for by the lease.
1909.
$49,721
3,302
5,574
v!
which the
can
.
YEARS ENDING MAY 31.
1910.
12,097
51,638 ‘
1,407
£806,0'
_
company (PUlsbury
and, In this connection, the present value of the company’s property and
good-will will also have to be considered, as well as the probable net Income
after providing for interest on the first mtge. debentures and Interest and
sinking fund on the bonds Issued for the payment of the creditors.
At the
earliest opportunity the directors took steps to economize by removing to
less expensive offices, and they have voluntarily reduced their fees by onehalf as from Oct. 1 last, although their labors have been of a very heavy
and responsible character.
Information Furnished by Chairman Richard H. Glynn at Annual Meeting
in London on July 21.
Earnings.—The results of operations from Aug. 8 1908 (to Aug. 31 1909)
have been as follows: The rent paid by the operating company was £21,907,
the amount received from the water-power companies being £74,422—
together, £98,329.
Our fixed charges were 6% Interest on 1st M. deben¬
tures, £52,500, and 5% Interest and 1% sinking fund on the 2nd M. bonds,
£37,110—together, £89,610—leaving a balance to the good of about £8,500.
We received £1,900 additional rent, being payment to Aug. 31—that was,
for 23 days more than a year—whilst the revenue of the water power was
reduced by £2,500 by payment of State taxes for previous years, which had
remained unpaid owing to a dispute as to the amount.
The revenue of the water power this year, based on figures received to
date, might fairly be estimated at £80,000, to which must be added the
yearly rents of £20,000, assuming that no deduction from this latter has
to be made In respect of the debt of $500,000 to the operating company.
This would give us a surplus, after the payment of fixed charges, and subject, of course, to administration expenses, of about £10,000—a result
which we may fairly hope to obtain regularly, even on-the assumption that
we receive no share of profit from the operating
company.
It Is obviously
too early to forecast the result of the lease.
(Compare V. 89, p. 167.) —
V. 89, p. 999, 167.
Income
Pillsbury-Washburn Flour Mills Co., Ltd., London.
(Results from Aug. 1 1907 to Aug. 31 1909.)
The directors in their report to
Aug. 31 1909 refer to the
discharge of the receivers Feb. 14 1910 and say in part:
^.rnings.—The operating
P• j99), under Its lease, took
and their accounts
Capital Re-arrangement.—During the current year careful consideration
will have to be given to the question of the re-arrangement of the capital
account of this company, as It will be clear to the shareholders that, before
any distribution can be made in the way of dividend, the debit balance on
profit and loss will have to be dealt with by some adjustment of the capital
on terms which may be found to be equitable to both classes of shareholders;
347,441
8,056,882 7,955,644
Total
If the directors’view is correct, taking the items of Interest and expenses
of formation of the operating company (which should be borne by that com¬
pany alone), amounting together to $83,830, and adding this to the shown
profit of $134,330, gives $218,161, or $68,161 In excess of the $150,000 first
due to the operating company, one-half of which excess, or $34,080, being
nearly £7,000, would then be due to this company, without regarding the
question of Manager’s salary.
The receivership expenses amount to the
large sum of £86,833.
Alaska Packers Association, San Francisco.
rather
395
SHEET
1908.
$
DEC. 31.
I
1909.
1908.
Liabilities—
$
|
$
4,696,896 4,614,0521 Preferred stock
1,075,000 1,075,000
Merchandise on hand 1,230,011 1,171,792 j Common stock
2,150,600 2,150,600
Wool in Hamilton...
14,998
10,5091 Bond issue.
2,000,000 2,000,000
Cash
17,583
10,263
5,498
16,6351Pay-roll
Bills receivable
129,617
178,6521 Accounts payable
219,601
257,960
Accounts receivable. 479,188
394,3381 Bills payable
505,103
514,506
Unsold bond Issue
74,800 |Arpprop. forbad debt
2,000
2,000
3,341
I Accrued interest
3,721
| Depreciation reserve. 200,000
100,000
j Profit and loss.
402,005
351,874
Total
—V. 90, p. 703.
6,568,293
6,460,779|
Total
.6,568,293 6,460,779
THE CHRONICLE
396
(Report for Fiscal Year ending Dec. 31 1909.)
General Agent W. H. Abrams, Dallas, Tex., Feb. 14
wrote in part:
1910,
During 1909 98,617 acres were sold for $484,829, averaging $4
acre, of which 26% in cash and 74% in 6% notes, with a first lien
92 per
on the
property sold; also 150 town lots for $5,530, 55% in cash.
The price per
acre increased only 2.8 cents, but the sales Included a much larger propor¬
tion of more remote, less valuable lands than in any former year.
Much
more than half were lands west of the Pecos River, between that river and
the Mexican border.
The rentals from grazing privileges amounted to
$72,531, or a decrease of $6,940, due to the considerable sales of lands
under le&sc
Only about one-sixth of your lands are now not under lease. More of
them are being gotten under lease each year, as rapidly as water for cattle
and grazing purposes can be developed upon them.
While the rental re¬
ceived is small per acre. It suffices to pay taxes and for the care of the
properties.
Your policy of Investing accumulations of money by purchasing your
proprietary certificates in the market was continued, with the result that
4,500 shares ($450,000) were retired at and canceled at an average cost of
$88 82 + per share.
In the western section, in which your interests are chiefly located, the
people do not seem discouraged with the results of the past year’s drought.
More plowing is being done, more new farms are being opened up and more
improvements are being made at this time by far than in any former year.
OPERATIONS AND FISCAL RESULTS.
1907.
1909.
1908.
Sales of lands and lots
Bills receivable.
Miscellaneous
$11,496
79,472
88,079
215,831
$37,123
78,613
79,533
175,430
899
974
662
$2,659
85,710
271,979
102,040
2,335
$493,569
$395,852
$371,361
$464,723
$13,627
$12,460
14,594
24,211
11,897
$12,604
11,763
28,558
12,577
$12,743
35,787
27,658
18,499
_
Total
Expenditures—
Gen. exp. (Texas office)
Commissions
Taxes
1906.
$5,385
72,531
129,052
285,702
_
16,240
26,463
18,735
__
Miscellaneous
Cost of T. & P. Ry. inc.
and land grant bond
15,127
scrip purchase
Cast of prop, certs, of T.
P. L. Tr. purchased in
open market at average
of $83 22+ In 1906,
$65 41 + in ’07, $69 37
In’08 & $88 82+ in’09
Cash on hand.
399,721
18,783
312,178
5,385
294,363
11,496
332,913
37,123
$493,569
$395,852
$371,361
$-164,723
_
Total
Assets.—2,263,642
p. 2382).
acres
of land situate in 34 counties (V. 78,
Town lots in Mineral Wells, Tye,
Van Horn and Morita.
129,760
acres
Loraine, Iatan, Big Springs,
of canceled sales in 15 counties (deeds in escrow).
deferred payments
$1,449,347
.18,783
Bills receivable (face value) taken for
Cash on hand
2
Liabilities.—Proprietary Certificates outstanding,
including
$137,043 held in escrow by the Farmers’ Loan & Trust Co.-$5,284,775
(The $137,043 is held in escrow to take up the remaining Eastern Division
and securities issued by Texas <% Pacific Ry. Co., viz.: Income and land
grant interest scrip, $94,210; fractional Income and land grant bond scrip,
$4,126: interest scrip old land grant bonds, $490.)—V. 89, p. 345.
Toronto Electric Light Go., Ltd.
(.Report for Fiscal Year ending Dec. 31 1909.)
Pres. Henry M. Pellatt, in the 26th report, saidjin part:
*•"
General Results.—The gross receipts from all sources have been SI ,292,545;
an Increase over last year of $136,963.
The operating expenses,
including Interest on bonds, have amounted to $761,838, leaving a balance
of $530,707; of this, $315,494 have been paid out in dividends, leaving a
balance of $215,213, of which $200,000 has been transferred to the reserve
fund, bringing that account up to $1,000,000, and the balance of $15,213
carried to the credit of profit and loss.
While the market value of material and labor has steadily Increased, the
percentage of operating expenses (including taxes) to gross receipts has been
only 55.4%, as against 58% for last year.
The records of installed load on the company’s system at the end of the
year show an equivalent of 779,263 sixteen-candle power lamps.
This in¬
cludes both the lighting and power branches of the company’s business.
The number of customers for light and power have been increased during
the year by 2,323, making the total number to the end of the year 12,717,
with 14,931 meters Installed.
'
showing
Hydro-Electric Commission.—In Jan. 1907 the rate-payers of Toronto
voted in favor of a contract with the Commission for power to be delivered
at the outskirts of the city at the maximum price of $18 10.
In the session
of 1907 an Act was passed doing away with the people’s vote and abolishing
the maximum price, and in spite of the people’s vote for power at Toronto
the city of Toronto was called upon to go to Niagara Falls and to pay for it
there at $10 40.
In addition the city has to pay the cost of transmission
to Toronto, whatever that may be, and also to pay for a 30 years’ sinking
fun
and for line loss and operation and maintenance. Seealso V. 89,p.344.
In April 1909 the power scheme being in such difficulties that without
special legislation from the Government it must have fallen to the ground,
the Legislature passed a new power Act containing the following extraor¬
dinary provisions: (1) That, notwithstanding the judgment of the Court
and the votes of the people, the new contracts were declared to be legal,
valid and binding; (2) that they were not to be open to question by any
municipality, corporation or ratepayer on any ground whatsoever in any
Court; (3) that the approval of the Lieutenant-Governor to the new con¬
tracts was to be dispensed with; (4) that the new contract was to b
binding on the town of Galt without the signature of the Mayor; (5) that
the Toronto suit by Mr. Beardmore and the London case by Mr. Smith
were not to be taken to the Privy Council in England, but were to be for¬
ever stayed;
(6) that the Commission need not buy a right of way, but
could acquire easements or squares of land for towers, and run the trans¬
mission lines along the highways and through the farms.
The English press have denounced the legislation in strong terms, and
the Canadian press, as well, has furnished powerful articles condemning it.
RESULTS FOR YEARS ENDING DECEMBER 31.
1909.
1908.
1907.
1906.
Revenue from lighting,
power, rent, sales, &c_$l,292,545
$1,155,583
$1,039,716
$899,578
,
Oper.
exp.
(lncl. repairs)
_
$716,838
Interest on debentures.
45,000
Dividends
(8%)315,494
_
Balance, surplus.
$215,213
$670,712
45,000
(8)289,254
$606,926
45,000
A ssets
-
Plantdncl. real est,)-5,681,734
Investment account. 229,912
Gen.supplies in stock 202,949
Accounts receivable. 152,821
Bills receivable
10,964
Insurance in advance
6,615
Cash on deposit
97,460
Cash in office
497
Total.
*
$
5,364,522
229,412
138,232
138,339
7,784
8,162
145,105
347
6,382,952 6,031,903
$150,616
$142 287
Liabilities—
Stock paid up
4
Debentures
1
Accounts payable...
Bills payable
Mortgages payable..
Accrued int. on debs
Contingentacct., &c.
Reserve account
Profit and loss
Total..
45,000
$119,459
1909.
190S.
S
S
000,000 3.798,101
000,000 1,009,000
158.045
153,993
142,565
218,508
23,000
23,000
22,500
22,500
10,067
4,840
1 000,000
800,000
*26,175
*10,961
6,382,952 6,031,903
After deducting $200,000 transferred to reserve account in 1909,
in 1908.—V. 90, p. 508.
$517,848
(8)245,503(7^)217,271
BALAN CE SHEET DECEMBER 31.
1909.
1908.
RAILROADS, INCLUDING ELECTRIC ROADS.
Bartlett-Florence RR.—Receiver.—District Judge Wilcox
on July
26, on application of creditors, appointed Sam W.
Brown, Cashier of the First National Bank of Georgetown,
Texas, as receiver.
The total liabilities are reported as about $90,000.
in (meratlon from Bartlett to Jarrell and 15 miles
partly
to Florence.
Compare V. 90, p. 1612, 976.
There are 11 miles
graded from Jarrell
Boston & Albany RR.—All Sold.—N. W. Harris
and Bond & Goodwin announce that they have sold
& Co.
all the
$2,000,000 25-year 4% bonds, guaranteed prin. & int. by
the N. Y. Central & Hudson River RR., which they offered
in our advertising columns last week.—V. 91,
p. 335.
Brazil Ry.—Exchange.—The holders of the $2,101,500
5% 50-year gold debentures of this Maine corporation, dated
Jan. 1 1907, are offered an opportunity to exchange the
same at the office of
Secretary Rodney D. Chipp, 115 Broad¬
way, N. Y., on or before Aug. 31, receiving therefor at the
parity of exchange 4)/£% 1st M. bonds of the issue dated
June 1 1909. Of the4 J/£s, £1,800,000 were sold in London in
1909 and about £1,700,000 were placed in Brussels.
A $100
debenture will be exchanged for a £2Q 1st M. 4) 2% bond
and $2 66 in cash.
Canadian Pacific Ry.—Dividend Rate Increased.—Begin¬
ning with the dividend payable Oct. 1, the common stock
($180,000,000) will be on an annual dividend basis of 8%,
an increase of 1%.
This follows from the declaration on
Aug. 8 of a semi-annual distribution of 3 lA% from railroad
receipts and the continuation of the usual semi-annual }A of
1% from interest on proceeds of land sales.
Previous Annual Dividend Record of Common Stock '.Since 1895).
From—
’96. ’97. ’98. ’99. ’00. ’01. ’02. 03. ’04 to ’06. ’07toApl0
RR. earnings
5 M 5
5
5 H 6 yearly
2^ 2^ 4^ 4
6 yearly
Land sales Int
1 yearly
—V. 90, p. 1674.
Central Arkansas & Eastern
See St. Louis Southwestern Ry.
RR.—Guaranty of Bonds.—
Central New England Ry.—Deposits Twice the Required
Amount.—The “Philadelphia Newrs Bureau” Aug. 6 said:
ASSETS AND LIABILITIES DEC. 31 1909.
1.
LXXXXI.
GENERAL INVESTMENT NEWS.
Texas Pacific Land Trust.
Receipts—
Cash beginning of year.
Rental of grazing lands.
[VOL.
against $150,000
The National Bank of Northern Liberties, Philadelphia, announces its
readiness to make payment on all stock deposited up to and Including
July 25.
The stock having come In so rapidly as to double the amount
stipulated In the agreement of sale, Mr. Moore requested the purchasers
to take It at once, which they did, enabling him to complete the negotia¬
tions, the deposit and payment therefor in the period of one month.
The
bank will continue to receive deposits of stock until Nov. 1, to permit
absentees, some of whom are abroad, to deliver the shares promised by
letter.
If sufficient stock accumulates, another payment will probably
be made about Sept. 1.
Compare V. 91, p. 153.
Central of Georgia Ry.—ATo Money for Income Interest—
Annual Report.—The board of directors has ascertained and
declared that for the fiscal year ending June 30 1910 there
net earnings or income applicable to
interest on the $4,000,000 first, $7,000,000
are no
the payment of
second and $4,-
000,000 third preference income bonds.
Preliminary Statement of Earnings for Year ending June 30.
Pass.Tr.Eams Freight.
* Total All. y Tot.Net. Impts.,<tc. AllCharges. Surp.
1909-10.S3,586,661 $7,961,471812,052,756 83.839,98951,247,677 82,59! ,095 $1,216
1908-09. 3,280,529 7,430,497 11,155,182 3,587,523
677,566 2,907,295 2.662
Increase.
8306,132
$530,977
8897,574
$252,466
*
Includes "net revenue outside operations.”
dends, Interest, &c.—V. 89, p. 1346.
y
8570,111
Includes "other income,” divi¬
Chesapeake & Ohio Ry.—Equipment Notes.—The Chesa¬
peake & Ohio Equipment Corporation, recently organized,
filed at Richmond, Va., on Aug. 4 an equipment trust agree¬
ment dated Nov. 18 1909 also a supplemental agreement of
Nov. 23 1909, conveying to the Mercantile Trust Co. of
New York, as trustee, the following rolling stock, that cost
$5,595,000, in order to secure $4,800,000 series A and B
5% one-year equipment notes, to be dated July 1 1910.
This is the equipment issue that the company recently an¬
nounced that it would not sell at present. (V. 91, p.214,153.)
New Equipment
Securing Series A 5% One-Year Notes.
Description Of Cars—
Numbers lncl.
3,000..50-ton all-steel hopper-bottom
54,000 to 56,999
500. _40-ton steel-frame box
3,250 to 3,749
8..Steel cars for passenger service
Various.
Cars Already in Use (100,000 Lbs. Capacity) Securing Series B.
l,000__Steel centre-dumping hopper
51,500 to 52,499
400. .Double-bottom steel
Various.
1,000.-All-steel hopper
53,000 to 53,999
Of the 3,508 new cars, the Pressed Steel Car Co. and the Am. Car & Fdy.
Co. are the builders of 1,000 each, the Standard Steel Car Co. the remaining
1,508.—V. 91, p. 214.
No.
Chicago & Alton RR.—Called Bonds.—Twenty-three
($23,000) Mississippi River Bridge Co. bonds will be paid
Oct. 1 1910 at the First National
New York.—V. 91, p. 214.
Bank, No. 2 Wall Street,
Chicago & Western Indiana RR.—Called Bonds.—Ninety($95,000) general mortgage bonds of 1882, drawn for
redemption, are payable on Sept. 1 at 105 and interest at
office of J. P. Morgan & Co.—V. 91, p. 211.
Detroit Toledo & Ironton Ry.—Request for Deposits —A
committee consisting of
five
John Alvin Young (Chairman), President Windsor Trust Co., New York;
Strathearn Hendrle, Detroit, Mich.; F. Ross Williams and Benson Foraker,
Cincinnati;
Geo. W. Young, New York; Geo. H. W’orthlngton, Cleveland;
Francis Henderson, New York; James J. Robison, Toledo; and Warren
W. Foster, New York, with Howard C. Dickinson, 26 Exchange Place,
New
York, as Secretary,
:
1
.
give notice, by advertisement on another page, to the holders
of the consolidated mortgage 4)^% bonds that, at the re¬
quest of the holders of a large amount of the securities, they
have consented to act as a reorganization committee, and
have executed and lodged with the Windsor Trust Co.,
Ava. 13 1910.'
THE CHRONICLE
59 Cedar St., New York, as depositary, an agreement, of
which copies may be obtained from the depositary or the
Secretary of the committee. Holders of the consolidated
mortgage bonds are requested to deposit their bonds in nego¬
tiable form on or before Sept. 15 with Feb. 1908 and subse¬
quent coupons attached thereto.—V. 90, p. 1554.
Detroit (Mich.) United Ry.—City Election Delayed by Stay.
—Citizens of Detroit opposed to the municipal-ownership
plan obtained on Aug. 5 from the Supreme Court of Michigan
a writ of certiorari and a stay of proceedings,
delaying, prob¬
ably until November, the election which had been called for
Aug. 15 upon petition by 18,000 voters to vote on amending
the city charter so as to permit the purchase of the company’s
properties. The plan was to arrange, if possible, for a volun¬
tary sale, or, failing that, to condemn certain lines and
parallel others, the undertaking to be financed partially
with city bonds and partly by a new mtge. on the property.
Offer for 51% of Stock.—A meeting of Canadian stock¬
holders was held at the offices of Rodolphe Forget, M.
P.,
in Montreal on Aug. 3 to listen to a proposition to
give to a
syndicate options on 51% of the stock, running 30 to 60
days, at $80 a share. Director J. M. Wilson and others
opposed the plan on the ground that the same terms should
be offered to all the shareholders.
A press dispatch
says:
The flrst option, running for 30 days, Is to be operative only If
the Detroit
Common Council votes favorably on the plan to sell the road to
the city.
The promoters stated that they had 29 Detroit Aldermen
pledged to vote
for It.
The second option becomes operative only In the event that
voters
of Detroit, at a referendum election, approve
the plan within 30 days
from the expiration of the flrst option.
If both the Council and the voters
approve of this plan of giving the city control of the stre< t railway, then the
third, or 60-day, option comes Into operation.
This is to give the promoters
time to complete the details of transfer. The plan would assess each stock¬
holder going into the scheme $1 50 for each share
'
represented.
Mr. Forget said that the promoters of the pool had
already obtained op¬
tions on about 5,000 shares of the stock, and that he had
every reason to
believe that the balance would be forthcoming.
He declared that the
company had spent $1,250,000 in improvements on streets in which their
running rights had expired. “What would you think,” hea3ked, “of atenant
who spent $1,500,000 on a house after the lease had expired?
That money
really belongs to the stockholders.
The only way you can secure your
rights if you reject our plan is to put out the Hutchins crowd and elect
officers who will put the profits into the pockets of the
stockholders.”
M. D. Follin and George M. West of Detroit are
supposed to be here en¬
Mr. Forget declined to say who besides these two
gineering the scheme.
are interested in the Detroit end of the deal.
He is confident, however,
that it will go through.—V. 90. p. 1101.
Duluth South Shore & Atlantic Ry.—Report.—The results
for the fiscal year ending June 30 were:
Year—
Gross.
1909-10
.$3,302,147
1908-09
2,719,338
—V. 89. p. 841.
__
Net.
Oth.Inc.
$1,032,899
$58,530
154,075
739,820
Int..Taxes,&c.Bal.,Def.
$1,173,253
1,095,342
$81,824
201,447
East St. Louis & Suburban Co .—Purchase.—See East
St. Louis (Ill.) Light & Power Co. under “Industrials”
below.—V. 90, p. 54.
Grand Trunk Ry. of Canada.—Full Dividend on Second
Preference Stock.—Cable advices state that the directors in
addition to the full dividends on the guaranteed
4% stock,
and also on the first preference stock, for the
half-year end¬
ing June 30 last, have declared a distribution of the full
23^% on the second preference stock.
6
In 1909 and 1908 no payments were declared in the first half of
those
In the second half of 1909, however, 5% was declared to cover the
entire year 1909, and in 1908 2^% was disbursed out of the
earnings of
the second half of that year.
Compare V. 90, p. 502, 559.—V. 91,
years.
p.
336.
Illinois Central RR.—Settlement of Claim.—A
settlement,
it is stated, has been arranged with the
Memphis Car Co.,
whereby the latter is to pay back $200,000 of the $300,000
out of which the railroad
company is alleged to have been
defrauded in connection with the repairing of
freight cars.
This will be the second settlement effected since the
company
397
&c. (all of which were bid in on Feb. 1 1909 by David T.
Bomar, of the investment firm of Broad & Bomar, Fort
Worth, Tex.) (V. 88, p. 564.) A mortgage has been made
to the Central Trust Co., trustee, to secure an issue of
$350,000 of 1st M. 5% gold bonds, all outstanding, dated
June 1 1910 and due June 1 1940; par $1,000 (c*); interest
J. & D. in New York.
S. B. Cantey and W. C. Forbess are
President and Secretary respectively.—V. 88, p. 564.
Monterey Fresno & Eastern Ry.—Sale Delayed.—The Su¬
preme Court of California on Aug. 1 granted a writ of super¬
sedeas to W. J. Rogers, who has been
opposing the sale of
the road by the receiver.
This will for a time delay the sale.
Judge Lucas F. Smith of the Santa Cruz Superior Court in 1907 placed
the road in the hands of Edward White as receiver, and ordered its
sale.
Mr. Rogers owned 19-144ths of the bonds In the original
Monterey Trans¬
portation Co., which was absorbed by the company against his protest and
that of other bondholders, although it is stated Mr.
Rogers refused to Join
in the suit brought by other bondholders to have the
He
merger set aside.
filed an answer in the suit, in which he alleged that the
conveyance was
fraudulently made. About 6 miles of the road, from Watsonville to Mon¬
terey Bay and the Pacific Ocean, were operated for a short time about ten
years ago.
The property, consisting of 17 pieces of real estate in Monterey
and Santa Cruz counties, rolling stock, power
houses, warehouses, rails,
poles and ties, is said to be worth close to $2,000,000. Compare V. 85, p. 40.
132.TInhe
Mt. Airy & Eastern Ry.—Sale
Sept. 19.—Judge Boyd in
the United States District Court for North Carolina has
authorized receivers Reuben Satterthwaite Jr. of
Wilming¬
ton, N. C., and John A. Mills of Raleigh, N. C., to offer the
road at public sale at Mt. Airy, N. C., on
Sept. 19.—Y.90,
p. 110.
New
Brunswick
(Can.) Ry.—Dividend Increased.—The
whose road is operated under lease by the Canadian
Pacific, has declared a dividend of 4% on its $3,000,000 stock
for the year ending June 30 last, an increase of
1% over the
previous year. In 1907-08 a smaller dividend, it is reported,
was paid and in 1906-07 and 1905-06
4% and 23^%, re¬
spectively.—V. 87, p. 678.
Pennsylvania RR.—New York Station Formally Opened.—
The New York station was declared
officially opened early
this month by President James McCrea, who
accepted from
the memorial committee of the board of directors
(Thomas
De Witt Cuyler, Chairman), the statue of the late President
Alexander J. Cassatt.
The Long Island trains will com¬
mence to run into the new station on
September 8.
Second Yice-President Samuel Rea on August 5 sent to
Mayor Gaynor and the Public Service Commission a letter
urging anew the necessity of haste in the building of lines
that will supplement the Pennsylvania’s new
system into
the city.—V. 91, p. 337, 155.
Philadelphia Traction Co.—Called Bonds.—Twenty-six
($26,006) 4% collateral trust bonds of 1917 have been called
for payment at 105 and interest on
Aug. 15 at the Pennsyl¬
company,
vania Co. for Insurances
on Lives and
Granting Annuities,
Philadelphia.—V. 88, p. 376.
Portsmouth (O.) Street RR. & Light Co.—Called Bonds.—
Twenty ($20,000) 1st M. 5% 10-year gold bonds, dated 1906,
authorized issue $250,000, outstanding $175,000, have been
called for payment at par and int. at the Bankers’ Trust
Co.,
N. Y., on Oct. 1.—V. 69, p. 129.
Public Service Corporation of New Jersey.—Purchase—
Guaranty.—This company has purchased a majority of the
stock of the Princeton Light, Heat & Power
Co., 2,211 shares
of a total of 2,450 shares (par
$50—$122,500; auth. issue,
$250,000), and guarantees the principal and interest of $160,000 of the $177,000 outstanding 1st and
refunding5%bonds.
began its investigation into the frauds by which, it is said
over $1,500,000.—Y.
91, p. 94.
Leavenworth (Kan.) Terminal Ry. & Bridge Co.—Pur¬
chase—Further Facts.—President E. W. Snyder informs us
that the Chicago Great Western RR.
purchased the entire
$600,000 of stock of the company, giving them a control.
The purchase, however, did not
carry with it an assumption
of the $600,000 of
bonds; that is to say, they did not guar¬
The aforesaid bonds are dated Feb. 1 1909 and due Feb. 1
1939, but re¬
deemable on any Int. day at 105 and Int.
Int. F. & A. at Trust Co. of
Am., N. Y., trustee.
Par $1,000, $100 or fractional.
Of the auth. Issue,
$23,000 is reserved to retire outstanding prior liens.
Sinking fund 4%
of gross earnings of company beginning In 1910.
Incorporated in N. J.
July 31 1905;a merger of Princeton Lighting Works (V. 81, p. 36), Princeton
Gas Light Co. and Hopewell El. Lt., Heat & Power Co.
President is now
Frank Bergen; Sec., H. C. Stevenson.
The Public Service Corporation Is
not Interested in the East Jersey Light & Power Co., which was
recently In¬
corporated in N. J. with $1,500,000 stock and, lt Is said, purchased the
Louisville & Nashville RR.—Bonds
Called.—Fifty-two
bonds of $1,000 each, issued by the Henderson
Bridge Co.,
have been drawn for payment at 105 and interest on
Sept. 1
at the Central Trust Co. of New York,
mortgage trustee.—
Fiscal
Year—
1909-10
1908-09
—V. 89, p.
to have lost
antee them.—V.
91, p. 214.
Rio Grande Southern
V. 91, p. 154.
Meadville & Cambridge Springs
(Electric) Ry —Default,
&c.—It is learned that interest was defaulted Dec. 1 1909
on the $300,000 1st M. bonds and
a receiver has been
ap¬
pointed. The bondholders’ committee say:
The property is in
danger of foreclosure, and there are certain suits now
suits which have been instituted
by which the security
of the aforesaid bonds may be impaired.
Compare V. 91, p. 336.
pending and other
Mexican
Tramways
Co.—Neiv
Directors.—Lie
Pablo
Macedo and Viscomte Gaston de Breteuil of
Paris,
France,
have been added to the board of directors:
Managing Director R.
C. Brown stated at the annual meeting that the
in Mexico in September should
bring increased re¬
ceipts to the company, and in fact its effects are
already being felt some¬
what, as shown by the very satisfactory Increase in
the July receipts.
In
July a new line to Lake Nochlmilco, a popular
centennial celebration
yielding satisfactory receipts.—V.
91,
suburb,
p.
was
opened and is
94.
Mineral Wells, (Tex.) Electric Co.—Successor
Company—
New Securities.—This
company was incorporated on or about
June 1 1910 under the laws of
Louisiana, with its principal
office at Shreveport,
La., the authorized and paid capital
stock being $350,000, and has taken
over and will operate
the properties of the Mineral
Wells electric system, consisting
of its 6 miles of street
Manalapan Lt. Co. of Freehold and Jamesburg Lt. & Water Co.—V.91,p.95.
railway,electric-light plant, ice plant,
RR.—Report.—Year ending June 30:
Operating
Net, after
Revenue.
Taxes.
Other
Income.
$546,520
576,152
$126,377
$12,510
168,105
13,664
412.
St. Louis Southwestern
Fixed
Charges.
$202,879
204,798
Balance,
Deficit.
$63,992
23,029
Ry.—Meeting to Ratify Guaranty
on
ratifying
and Lease.—The shareholders will vote Oct. 4
the action of the company:
agreeing to guarantee the payment of the principal and Interest of
issue of 1st M. 30-year 5% gold bonds of .Stephenvllle
North & South
Texas Ry. Co., a Texas corporation, to an amount not
exceeding $25,000
an
Eer mile of main track of railroad, whether of main line, extensions
or
July 1 1910,
ranches, now or hereafter constructed, the bonds to bear date
and to be secured by a first mtge. to Commonwealth
Trust
(V. 90, p. 1045, 1103).
Co., trustee
agreeing to guarantee the payment of the principal and Interest
of an issue of 1st M. 5% 30-year gold bonds of Central Arkansas &
Eastern
RR. Co., an Arkansas corporation, at the rate of
$25,000 per mile of main
track of railroad, whether of main line, extensions or
branches, which said
company may now or hereafter construct or acquire, said bonds to be dated
July 1 1910, and to be secured by a flrst mtge. to the St. Louis Union Trust
Co., trustee.
[The Cent. Ark. & Eastern was in June 1909 operating from
England to McGregor, Ark., 9 H miles, and in February 1910 increased its
authorized capital stock from $100,000 to, it Is said,
$800,000, In order to
extend the line from McGregor to Stuttgart, 15
miles; also to build from
Stuttgart northwesterly about 20 m. to the Rock Island Ry.—Ed.]
action of this company in entering Into a lease with said Central
Arkansas & Eastern RR. Co. of date July 1 1910,
providing for the use and
occupancy by this company of all the railway and property which said com¬
pany may now or hereafter own for a period of thirty years from said date,
with the privilege in the meantime of purchasing and
acquiring all of said
railway and property upon assuming payment of all the bonds which said
Central Arkansas & Eastern RR. Co. may issue under a mortgage or deed
of trust dated July 1 1910, executed by lt to St. Louis Union Trust Co.
trustee, and for other considerations.—V. 90, p. 1491, 1364.
Preliminary Yearly Statement. See “Annual Reports.”
THE CHRONICLE
398
Second Avenue RR., New York.—Permission to Electrify
Worth Street Line.—The Public Service Commission on Aug. 2
fran
treet
tedLine
Receiver
from Chatham
electrify theCompare
Worth
Lynch permission
Square totoBroadway.
779.—V. 89, p. 1224.
Springfield & Jacksonville Electric Ry.—Bonds Offered.—
H. H. Randolph & Co., Corn Exchange Bank Bldg., Chicago,
are placing at 97
and int., to yield 6.32% income, the issue
of $800,000 1st M. 6% gold bonds dated April 1 1910 and due
April 1 1920, but callable on and after April 1 1913 at 105
and interest.
Int. A. & O. at First Trust & Savings Bank of
Springfield, Ill. (the mortgage trustee), and First Nat. Bank
of Chicago, Ill.
Par $250, $500 and $1,000 c*.
Abstract of Letter from President O. J. Lucas, Springfield, Ill., July 14.
Property.—The road Is now under construction. The longest bridge Is
V. 89, p.
already completed; It Is a trestle and concrete bridge 480 feet In length.
Most of our concrete work Is executed.
We have some miles of track laid
and the work Is being rushed as rapidly as Is consistent with careful build¬
ing.
The road will run from Springfield, Ill., to Jacksonville, Ill., a dis¬
tance of 34 miles, with a grade of only about 1% and no curve In excess of
4 degrees.
Springfield Is the capital of Illinois, and It Is visited annually
by a great number of people; It will also be a very wholesome producer of
freight yield.
Springfield has a population of 65,000 and Jacksonville
20,000.
The Intervening stretch of country Is so thickly settled that it Is
equivalent to small villages every few miles.
The country traversed forms part of America’s rich corn belt.
The road
also enters the richest coal fields In the Mississippi Valley, being the only
road, either steam or electric, which touches some of the mines.
Charter, &c.—This road Is chartered under the General Railroad Act of
Illinois, and It is believed will do a large and profitable freight business in
coal, grain, live stock, &c.
There Is only one railroad, either steam or
This Is a steam road
electric, running from Springfield to Jacksonville.
and the accommodations It offers are very Inadequate to the demands of
and liberal, and
The
financial circles
construction of rail¬
the people.
Our franchises and rights of way are broad
the terminal arrangements are very favorable and advantageous.
company Is officered and controlled by men well known In
and possessing a successful record of 20 years In the
roads.—V. 89, p. 44.
United Railways Investment Co.—Payment
of Notes.—
D 6% notes
The principal and interest of the $200,000 Series
of 1908 maturing Aug. 15 1910 will be paid on and after that
date at the office of the New York Trust Co., 26 Broad St.,
N. Y., or at the office of United Railroads of San
San Francisco, Cal., on the presentation and surrender of
such notes and of the collateral accompanying the same.—
Francisco,
V. 90, p. 1556.
Wabash-Pittsburgh Terminal Co.—Permission Granted to
Sue.—Judge Young in the United States Circuit Court on
July 30 granted permission to the receivers to bring an action
for an accounting against the Wabash and Wheeling & Lake
Erie under the traffic and trackage agreement by which the
Wabash & Wheeling & Lake Erie undertook to pledge
25% of their gross earnings from traffic interchanged to
meet any deficiency of interest on the bonds.
Payments,
it is said, ceased to be made in 1908.
Compare V. 91,
p. 277, 215.
Wages.—The following are recent developments:
Pennsylvania Western Lines
Adjustment.—The differences between the
railroad and the conductors, trainmen and firemen of the Pennsylvania
Western lines, affecting, It Is said, more than 9,000 men, were settled on
July 29, the new wage scale being signed.
Both sides made concessions.
While the exact terms of settlement have not been made public, a state¬
ment Issued
by the Order of Railway Trainmen says:
“The working condi¬
tions and rules are those embodied In the New York Central award.
The
wages are slightly higher than those which the New York Central award
covers and compare favorably with other roads where settlements have
been made under the Northeastern Assoclaton proposition.
This propo¬
sition embraces all the railroads north of the Ohio River and east of the
Mississippi and Fort William, Canada.”
The main point settled Is recognition
of ten hours as the standard day.
The rates of pay. Including the horizontal increase of 6% granted by the
Western lines, effective June 1, remain the same, which, with the concession
of ten hours as the maximum day, with pay for overtime, makes the rates
slightly higher than those paid by the Baltimore & Ohio and the New York
Central.
Heretofore trainmen had been paid on the trip basis, the amount
thereof and the beginning of overtime being fixed to meet the varying
length and conditions of the different trips.
li Louisville & Nashville.—An agreement has been made with the company’s
engineers providing for rates of pay based on mileage traveled while on
duty Instead of, as formerly, by the day. Local freight conductors receive
$5 per 100 miles, through freight $4 90, through passenger $3 95 and branch
passenger $3 80.
Rates are higher than Eastern Assn, standard scale.
Ann Arbor.—A settlement of the wage question has been made with the
firemen and conductors.
The terms of the agreement are not made
public.—V. 91, p. 277, 216.
Co.—Earnings.—This company,
recently organized by J. S. & W. S. Kuhn, of Pittsburgh, to
control and operate the West Penn Railways Co., reports a
net surplus (after the preferred dividend charge) of $80,792
for the half-year ending June 30, contrasting with $33,258
for the quarter ended March 31 1910.
West
Penn
Traction
for the Six Months Ended June 30 1910.
Gross receipts, $1,069,288; oper.exp. & taxes, $640,453; net earn_$428,835
Deduct—Interest ($230,543) and 6 mos. (2 H%)‘pref. dlv. $68,750
of West Penn Railways Co
299,293
Amount required to pay semi-annual dlv. of 3% on $1,625,600 6%
cum. pref. stock of West Penn Traction Co
48,750
Statement
Balance, surplus, for half-year
$80,792
—V. 91, p. 39.
Worcester (Mass.) Consolidated Street Ry.—New Mort¬
gage.—The new $5,000,000 43^% first and refunding mort¬
gage has been filed for record, the Old Colony Trust Co. of
Boston being the trustee.
Compare Y. 89, p. 412.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Milling
Co., Philadelphia.—Offer for Stock.—
recently asked to vote by mail on a
The stockholders were
proposition from the M. W. Savage syndicate, of Minneapo¬
lis, which controls a chain of stock-feed companies in the
West, including the International Stock Food Co. and the
International Sugar Feed Co., to purchase the $3,500,000
stock of the American Milling Co., paying for each $10
share either $1 in cash or $1 30 in International Sugar Feed
[VOL.
LXXXXI
No. 4 Co. 8%
pref. stock, part of issue to be limited to
$500,000 and to be retirable at end of any fiscal year at $1 05.
Henry S. Morris, Drexel Bldg., Phila., on Aug. 4, wrote:
An accounting should be demanded as the first step.
The company
recently sold E. G. Buckner 7,753 shares of duPont International Powder
pref. stock for $348,885, or at the rate of $45 a share.
If this money Is
still In the treasury a syndicate could buy In the entire capital stock for a
dollar a share and pay for the purchase with this cash asset.
On Nov. 30
1909 the company reported tangible net assets amounting to $1,036,703
beyond all liabilities, equal to $3 a share on the outstanding capital.
Its
real estate, buildings and machinery alone were reported as being worth
$481,000.
Since 1904 I figure the company has spent over $1,000,000, for
which expenditure the stockholders have never received an accounting.
I
hope to be able to present a protective plan in a few days.—V. 90, p. 700.
Boston Wharf Co.—Stock Dividend
of 400% by Change in
(1) to increase
Par Value.—The shareholders voted Aug. 9
the outstanding stock from $1,200,000 to
$6,000,000 b
'
value of outstanding shares from $20 t
$100 a share; (2) to accept in full payment of the capital in
crease the surplus assets of the company over and above it
present liabilities and present capital.—V. 89, p. 1670.
changing the
par
Brunswick Steamship Co.—End of Receivership.—Judge
Ward, in the United States Circuit Court in this city, on
Aug. 10 signed an order in the suit of the Atlanta Birming¬
ham & Coast Co. against the Brunswick Steamship Co.,
directing H. M. Atkinson and John J. Townsend, ancillary
receivers appointed in the Southern District of New York, to
turn over to Mr. Atkinson, the primary receiver appointed in
the Southern District of Georgia, all assets in their posses¬
sion. The Georgia Court recently ordered receiver Atkinson
to turn over to the company all the assets in his possession
after paying the expensesof the receivership.—V. 88, p. 1199.
Central Foundry Co.—Receivers’ Certificates Paid Off.—
Receiver Catchings has paid off prior to maturity from the
earnings of the company the $50,000 receiver’s certificates
issued last spring out of the total authorized issue of $200,000.
None of the remaining certificates has been sold.—V. 90,p. 979.
Chicago Suburban Water & Light Co.—Called Bonds.—
Twenty ($20,000) 1st M. 5% bonds, including various num¬
bers from 74 to 727 incl., were called for payment at par and
interest on Aug. 1 at the International Trust Co., Boston.
The auth. Issue Is $800,000.
This Is the first Installment called for the
sinking fund, which became operative only this year.
The entire outstand¬
ing issue. It Is understood, Is callable at 102 ^ and Int.—V. 81, p. 268.
Citizens’ Light, Heat & Power Co., Montgomery, Ala.—
Status of Ownership Suit.—General Manager P. R. Whiting
in a circular letter dated Aug. 3 says:
We are advised by our attorneys that the only effect of the temporary
Injunction granted by Judge Jones Is to maintain the existing status re¬
lating to the possession of the stock of the Citizens’ company and to keep
the matter In Court pending a final hearing and decision after a submission
of the facts.
The decision rendered Is only based on demurrers filed to the
bills and does not go Into the merits of the controversy or Indicate In any
way what the final decision of the Court will be. Compare V. 91, p. 339.
Improvements.—On the belief that the ownership of the
property will eventually be found to belong to Mr. Tillis,
the chief owner of the Montgomery Traction Co., a contract,
it is announced, has been given to J. G. White & Co. of New
York for extensions and improvements, which will cost
about $500,000, including:
Two large steam turbines having a capacity, combined,
several boilers, switch bars and other devices required In
of 8,000 h.p.,wlth
connection with a
high-grade electric power plant. The foregoing Is In addition to that now
In place at the power house and, combined, the company will have a ca¬
pacity of 10,000 horse power.
George M. Seward & Co., Chicago, in October last offered
$200,000 6% “first and refunding” bonds, of which $50,000
were to refund on March 1 1910 the $50,000 underlying
bonds.
(See V. 89, p. 921).—V. 91, p. 339.
(James B.) Clow & Sons, Chicago.—New Stock.—By
stockholders on August 8 increased the
capital stock from $1,000,000 to $1,500,000, by the creation
of $500,000 additional 7% cumulative pref. stock, making
the total issue of preferred $750,000.
This action was taken
on account of increase in the business due to the completion
of manufacturing plants built and equipped from earnings
during the last few years.
unanimous vote,the
The new Issue of $500,000 pref. stock will be offered for subscription at
a share, with interest from Aug. 1, payable 25% with subscription
and 25% wSept. 1, Oct. 1 and Nov. 1; 7% will be allowed on partial payments.
The company manufactures cast iron pipe, fittings, valves, water-works
$100
supplies, radiators, heaters, steam and gas goods, plumbing goods, &c.
Its works are located at Chicago, Ill., and Coshocton and Newcomerstown,
Ohio.
General offices at 342-358 Franklin St., Chicago, and sales offices
in New York,
San Francisco
Pittsburgh, Washington, Milwaukee, St. Louis, Kansas City,
and Havana. W. E. Clow is President.
Consolidated Gas Co. of New York.—Payment of Notes.—
$5,000,000 4% notes due Aug. 10 which
were placed by N. W. Harris & Co. a year ago (V. 89, p. 289)
are being paid off at the Farmers’ Loan & Trust Co.
The
company, we learn, has arranged with one or more banks
for a new one-year loan of $5,000,000 due August 1911,
the Farmers’ Loan & Trust Co. and two private parties
having been appointed trustees for a new note issue secured
by the same collateral as the old note issue, viz.: $6,250,000
New York Edison Co. stock.
None of the new notes, it
is expected, will be offered to the public.—V. 90, p. 1104.
New Loan.—The
(Mich.) Edison Co.—Offering of Convertible Deben¬
Bonds.—Spencer Trask & Co., N. Y. City and Boston,
are offering at a price to yield about 5%% income a portion
of the present issue of $1,500,000 10-year convertible deben¬
ture 6% gold bonds dated April 1 1910 and due April 1 1920.
Convertible between April 1 1912 and April 1 1918 into capi¬
tal stock of the company at par.
Redeemable on or after
April 1 1915 at 105 and int. upon 60 days’ notice and until
Detroit
ture
AUG.
131910.]
THE CHRONICLE
399
April 1 1918, if called for redemption, bonds may be con¬
verted into stock at any time before date named for re
demption. Compare V. 90, p. 449, 773. A circular says:
the output of sanitary enameled ironware,
Burr & Go., fiscal agents of the company, say:
George H.
The bath-tub end of the company’s business Is small.
The company’s $5,000,000 capital stock Is now receiving dividends at the
rate of 4% per annum.
These convertible debenture bonds are a direct
obligation of the company, and they were Issued to provide for the exten¬
sion of Its generating plants and distributing systems and facilities.
The company does all of the commercial lighting and Industrial power
business In the city of Detroit.
The present total capacity of its modern
generating stations Is 34,000 k.w., or 45,300 h.p.
The newest of the two
stations Is designed on the unit plan, permitting of extension of any re¬
quired capacity.
During the current year a second unit will be installed,
which will bring the total effective capacity of both stations up to 48,000
k.w., or 64,000 h.p.
The Detroit Edison Co. owns the entire capital stock of the Eastern Michi¬
gan Edison Co., and the latter owns all of the securities of the Washtenaw
Light <fc Power Co., except the outstanding $129,000 1st M. 5% bonds due
action is based on the assumption that the so-called “bath-tub trust” Is
In
violation of the Sherman Act.
There Is no patent on any shape or size of
This Federal
Aug. 1 1932.
Comparative Statement of Earnings for the Six Months ending June 30.
6 Mos. ’10.
6 Mos. *09.
Gross earnings
;$1,357,232
$986,791
Net Income (after operating expenses)
579,799
431,369
—V. 90, p. 1616.
bath
tubs.
The quireht controversy relates to their
enameling.
A
cer¬
tain manufacturer has patented a machine and the 17 defendants
have se¬
cured license from him for Its use under contract to sell the tubs for not less
than an agreed price and to pay a royalty on each.
If the Government
wins, all that will come of the case will be a dissolution of this agreement.
The result can In no way adversely affect the McCrum-Howell Co.—
V. 90, p. 1428.
Mexican Light & Power Co.—New Director.—H. Malcolm
Hubbard of London, England, representing large British
interests, has been added to the board.
The storage capacity of the company, it Is
stated, has been greatly ex¬
tended, there being at the present time over 20,000,000 cubic metres of
water In storage.—V. 91, p. 92.
Monongahela River Consolidated Coal & Coke Co., Pitts¬
burgh.—New President.—John Donaldson of Cleveland,
General Agent for Pittsburgh Coal Co. in
charge of lake
E. I. du Pont de Nemours Powder Co., Wilmington, Del.—
transportation, was on Aug. 10 elected President, to succeed
Acquisition.—This company has purchased the Fabrikoid Alexander Dempster, who resigned.—V. 90,
p. 1494.
Works at Newburgh, N. Y., one account says for about
Montgomery
(Ala.)
Light
Water
Power
Co.—No De¬
&
$400,000.
cision Yet on Merits of Case.—See Citizens’
In the manufacture of “fabrikoid,” which is an artificial leather, the du
Light, Heat &
Power Co., Montgomery, above.—V. 91, p. 339.
Pont Co. will have an additional outlet for one of their principal products,
which serves as a base for “fabrikoid.”
The Fabrikoid Co. will be liqui¬
Montreal Steel Works, Limited.—Proposed Bond Issue.—
dated and its affairs wound up.—V. 91, p. 278..
The company, it is stated, intends to issue $1,000,000
30-year
East St. Louis (HI.) Light & Power Co.—Merger.—This
6% bonds to provide for extensions to the plant now under
company was recently incorporated in Illinois with $1,way, only $750,000 of which will be issued immediately.
000,000 of auth. stock in $100 shares, of which the East —V. 90,
p. 562.
St. Louis & Suburban Co. (see “Electric Ry. Section”)
National Enameling & Stamping Co.—Report.—For year
owns
the entire outstanding amount ($733,500), as a
consolidation of the East St. Louis Light & Power Co. (which ending June 30, as reported in the daily papers:
Fiscal
Gross
Net
Int. on
7% on
Balance,
was organized in 1909 and secured a
Year—
99-year franchise) and
Profits.
Profits.
1 stM.Bds. Pref.Stk.
Surplus.
1909-10
$1,695,168
the Citizens’ Electric Light & Power Co. with the South¬
$1,062,345
$200,451
$598,262
$263,632
1908-09
1,359,191
807,407
39,583
598,262
169,563
western Light & Power Co.
The regular annual dividend of 7% on the pref. stock lias been
No bonds authorized yet. The
declared,
President is L. C. Haynes, V.-Prest. and Gen. Manager of payable in four quarterly Installments of 1%% each, beginning Sept. 30
1910.—V. 90, p. 170.
the East St. Louis & Suburban Ry., from which the company
Ontario Power Co., Niagara Falls, N. Y.—Sinking Fund
purchases its electricity. G. L. Estabrook is Secretary and
Purchase.—The sinking
fund on August 10 purchased
Treasurer.
$40,000 of the company’s first 5% mortgage bonds.
General Chemical Go.—Increase of Stock Approved.—The
Earnings.—For the year ended June 30 1910 earnings
stockholders on Aug. 12 approved the increase of stock from were as follows:
$25,000,000 to $27,500,000, the $2,500,000
6% cumulative preferred. Compare Y. 91,
new
p.
stock to be
279.
Grand Haven (Mich.)
Moss & Co., Detroit, are
Gas Co.—Bonds Offered.—W. E.
placing the entire present issue of
$95,000 1st M. 5% gold bonds, dated July 1 1910 and due
July 1 1930, but subject to call after 5 years at 102 and
interest. Int. J. & J. at Union Trust Co., Detroit, trustee.
Par $1,000 c*.
The bankers say:
A first mortgage on all property now or hereafter owned.
Issue limited
to $150,000, $55,000 (with trustee) Issuable for Improvements and exten¬
sions.
Capital stock, $50,000.
Directors: DeWltt H. Taylor; Pres.; H. E.
Bodman, V.-Pres.; W. E. Moss, Treas.; J. A. Sloan, Sec.; B. O. Tippy.
[The company was recently organized and took over the Grand Haven
Gas Works, previously owned by a co-partnership consisting of Wm. H.
Loutlt and Stephen L. Munroe.—Ed.]
Results for Two Years—
Gas and by-products sold
Net earnings (after operating expenses and taxes)
Cubic feet gas sold...
1909.
$26,589
11,243
15,610,400
1908.
$23,848
7,616
14,107,200
Iron & Steel Products Co.—Sale, Etc.—The plant, etc.,
of the Canton Iron & Steel Co. at
Canton, Md., is advertised
to be sold at auction Aug. 17.
A committee consisting of Elverton R. Chapman, 80 Broadway,
N. Y.,
Gustave Benjamin and Jacob M. Shenk, has submitted a plan of reorgani¬
zation to the creditors.
All the plants of the company are now closed.
The following sales were made by Adrian H. Muller & Son, N.Y..on Aug.10:
Iron & Steel Products Co., $73,000 guaranteed 6% mortgage gold notes
for $200 and $350,000 of the same company’s 1st mtge 5s for $960, $15,000
notes of West End Iron Co. for $150; $10,000 notes of Leb. Chain Works
for $100 and $30,000 notes of Canton I. & S. Co. for $1,160, In each case
for the lot.—V
90, p. 1681.
Lexington (Ky.) Water Works Co.—Favorable Decision.—
Judge Parker in the Circuit Court at Lexington, Ky., on
Aug. 1 dismissed the petition in the suit brought by J. T.
Slade and others against the city for an
injunction (which
has been pending for over a year)
to restrain the city from
renewing its contract with the company for 25 years.
The Court stated that the only question now before It was whether the
renewal clause of the original contract was
binding or whether It was merely
a statement of Intention of contract.
The clause provided that at the
end of 25 years unless the
city purchased the water works the contract
should be renewed for another 25-year term.
The Constitution of the
State adopted since that time prohibits contracts under such circumstances
for a term of more than 20 years.
It was held that the words “shall renew”
constituted a contract and that the Constitution cannot
Impair contracts
entered before Its adoption.—V. 72,
p. 535.
Long Beach (Cal.) Consolidated Gas Co.—Merger.—This
Aug. 3 under California laws,
capital stock, also a proposed
$1,000,000 bond issue, to carry out the plan, arranged by
D. J. Macpherson of
Pasadena, Cal., for merging on the basis
of 37% and 63%
respectively the properties of the Inner
company was incorporated
with $1,500,000' of auth.
Harbor Gas Co. and the Southern California Edison
in the
Co.
city of Long Beach, Cal.
The Southern California Edison Co. receives In the
merger a controlling
Interest In the new company,
namely $165,000 bonds, $85,000 pref. stock
and $425,000 common stock, while the
Inner Harbor Interests receive for
their properties $135,000 bonds and
$250,000 common stock; the remainder
of the new stocks and bonds to
remain In the treasury of the consolidated
company.
A new $400,000 plant is proposed.
The new bonds, we are
Informed, will not be guaranteed by the Southern California,
presumably
because the security for the Issue Is considered
ample.
Massillon (O.) Iron & Stool Co.—New President.—C. M.
Russell has been elected President to succeed H. A. Croxton.
—V. 84, p. 1432.
McCrum-Howell Co.—Explanation as to Litigation.—Re¬
ferring to the suit recently brought by the Government
against a number of manufacturers said to control 85% of
Gross, $719,898, against $462,847, $426,714 and $385,807 In 1909, 1908
1907, respectively; operating expenses, rental and taxes, $181,317;
net, $538,580; Interest, $256,099: balance, $282,481.
A second c mduit 18 feet In diameter has just been completed from the
head work to the power house.
The present capacity is 78,000 h.p., but
upon the completion of 3 additional units under construction this will be
increased to 114,000 h.p.—V. 91, p. 280.
and
Otis Elevator
Co.—Acquisition.—The company has pur¬
Engine Works to in¬
moderate-priced ele¬
chased the plant of the Quincy (Ill.)
crease its facilities for
manufacturing
vators.—V. 90, p. 1175.
Princeton (N.
J.) Light,Heat & Power Co.—Change in
Control—Guaranty.—See Public Service Corporation above,
Santa Cecilia Sugar Co.—Sale of Bonds, &c.—Adrian H.
Muller & Son, auctioneers, sold in N. Y. City the
following:
On
Aug. 3:
$5,000 1st M. 6s, Aug. 1910 coupon attached, at 61; $600
$150 each, due Feb. 1 and Aug. 1 In 1913 and 1914, for
$305; and 25 shares of stock at $5 25 per share.
May 25 1910 for $7,500: $10,000 1st M. 6s, 1925, Feb. 1909 coupons on;
$300 6% coupon note, due Feb. 1 1913, Aug. 1908 and subsequent coupons;
$300 6% coupon note, due Aug. 1 1913, with Feb. 1909 and subsequent
coupons; $5,000 stock (50 shares of $100).—V. 87, p. 550.
coupon notes,
Shannon
Copper Co.—Called Bonds.—Sixty ($60,000) first
mortgage 7s drawn by lot will be paid at par and interest
Sept. 1 at Boston Safe Deposit & Trust Co.—V. 89, p. 476.
South Alabama Lumber Co.—Bonds
Houghteling & Co., Chicago,
Offered.—Peabody,
offering at par and int.
$200,000 1st M. 6% serial gold bonds dated Aug. 1 1910 and
due in half yearly payments, namely Aug. 1 1911,
$6,000;
Feb. 1 1912, $6,500; Aug. 1 1912 to Aug. 1 1915, $12,500
semi-annually; thereafter, $25,000 semi-ann., but redeem¬
able in the reverse of their numerical order on or after
Aug. 1
1911 at 1023^ and int.
Par $500 and $1,000 c*. Principal
and semi-annual interest payable at office of Peabody,
Houghteling & Co., Chicago. First Trust & Savings Bank, Chi¬
cago, and Augustus S. Peabody, trustees.
A circular says:
are
These
bonds, issued to retire the floating debt and for additional working
closed first mortgage on approximately 10,000 acres of land
County, Ala., about 20 miles from Mobile, and approximately
122,740,000 feet of timber, viz.: pine, 72,520,000 ft.; cypress, 10,030.000 ft.
and hard wood, 40,190,000 ft.
Total estimated value of the security be¬
hind these bonds, $638,680.
In addition, the company has ample working
capital and owns a valuable plant with a capacity of 45,000 ft. per day. In¬
cluding saw mill, logging equipment and railroad, upon which we have
placed no specific valuation. Sinking fund $5 per 1,000 ft. on all timber
cut from the land under the mortgage, which should pay off the entire
principal of these bonds with the exhaustion of less than one-third of the
timber.
Because of the close proximity to the Mobile market, with railroad
and water facilities, the operations should be exceedingly profitable.
The stockholders are men of substantial means and
large experience,
and they have an actual cash Investment of over
$300,000 behind these
bonds.
These bonds are unconditionally guaranteed, jointly and
severally,
both as to principal and Interest, by H. H. Wheless of Shreveport, La.,
and J. M. Patterson of Mobile, Ala., whose combined net
worth, outside
of this company, Is In excess of $650,000.
capital,
are a
In Mobile
Spang, Chalfant & Co., Inc., Pittsburgh, Pa.—Increase in
company, incorporated in
Pa. in July 1899 and now owning the Etna Iron & Tube
Works, on May 18 1910 increased its authorized, capi¬
tal stock from $900,000 to $2,000,000, and on June 15
paid
a stock dividend of
100% to shareholders of record June 1
to represent improvements paid for out of earnings.
The
remaining $200,000 new stock will not be issued at present.
Stock—100% Dividend.—This
The company’s works were originally built In 1828.
The annual operating
capacity of the Iron department Is now 90,000 tons; tube department,
150,000 tons.
Natural and manufactured gas Is used for fuel.
Henry
Chalfant Is President; D. B. McCleUand, V.-Pres. and Treas.; W. C Heath,
Secretary. Par of shares $100.
-
For other Investment News
see page
407.
THE CHRONICLE
400
1.049.36
[VOL.
LXXXXI.
§tepwcis and gnntwrnts.
BUFFALO ROCHESTER & PITTSBURGH RAILWAY COMPANY.
TWENTY-FIFTH ANNUAL REPORT—FOR YEAR ENDING JUNE 30TH 1910.
The Directors of the Buffalo Rochester &
Pittsburgh Rail¬
and
following
ay
Company submit to the Stockholders the
report for the year ending June 30 1910:
way
ROAD OPERATED.
Owned
Leased
--
Trackage rights
__
Total length of road operated
Second track (owned)
Second track (trackage rights)
__
—
Sidings (owned and leased)
..
1910.
Miles.
346.39
93.83
126.66
566.88
102.57
81.63
298.28
Total miles of all tracks, all steel rail..
1909.
Miles.
Inc.
Miles.
347.13
94.00
126.66
567.79
101.08
81.63
280.94
1,031.44
Dec.
Miles.
.74
.17
.91
1.49
17~34
17.92
mileage of road operated is due to a change
alignment at various points. The tracks were increased
by 1.49 miles of second track constructed at Elk Run Junc¬
tion, Pa., and 17.34 miles of new sidings.
The decrease in
of
INCOME.
1910.
1909.
$8,936,116 96 $7,171,896 85
Operations—
Operating revenues
Rail
Net operating revenue
Outside operations—:
Increase.
4,665,170 93
$1,764,220 11
1,238,734 00
$3,032,212 03 $2,506,725 92
$525,486 11
$2,549 39
4,269 45
5,903,904 93
Operating expenses
Revenues
$17,064 21
Expenses
19,418 64
$14,514 82
15,149 19
$2,354 43
$634 37
Dec.$l,720 06
$3,029,857 60 $2,506,091 55
188,095 17
133,000 00
$523,766 05
.$2,841,762 43 $2,373,091 55
552,380 19
436,812 97
$468,670 88
$2,809,904 52
$584,238 10
1,767,482 25
99,286 91
$1,527,373 46 $1,042,422 27
$484,951 19
Net deficit
Total net revenue
Taxes Accrued-.--.
Operating Income
Other
Income..
Gross corporate Income
$3,394,142 62
Deductions for Interest and
rentals
1,866,769 16
Net corporate Income
Appropriations—
Pension Fund
1
Special appropriation
Total
Surplus
for
115,567 22
$12,483 66
$12,696 54
315,000 00
$12,483 66
$315,212 88
$1,199,676 92 $1,029,938 61
$169,738 31
These bonds
are
held
The increase in Taxes was caused by
Federal Corporation Tax law; also
the operation of the
by higher taxes im¬
on Capital Stock.
“Other Income” shows a net increase of $115,567 22.
The reduction in the dividend on the stock of the Ontario
Car Ferry Company, Limited, and a decrease in “Miscelaneous” wrere offset by gains in “Hire of Equipment,”
“Joint Facilities” a,nd “Interest.”
The increase in “Deductions for Interest and Rentals”
is accounted for by increased payments for rentals, joint
facilities and interest on additional obligations outstanding
at the close of the year.
A special appropriation of $315,000 was made from the
“Net Corporate Surplus.”
Of this amount, $125,000 was
aid in to. the Sinking Funds under Equipment Agreements
eries A, B and C for the purchase of new rolling stock, and
posed
$190,000 represents one-half of the principal of bonds
Series D, E and F paid during the year, the other half being
refunded by 4^% bonds issued under the terms of the Con¬
solidated Mortgage and held in the Treasury of the
Company.
DIVIDENDS.
Dividends in cash
were
paid
Preferred stock
Common stock
1910.
on:
$6,000,000
10,500,000
Total
6%
4%
$16,500,000
$360,000
420,000
$780,000
1909.
6%
4%
$360,000
420,000
$780,000
Since the close of the fiscal year your Board of Directors
has declared a semi-annual dividend of three per cent on the
preferred stock and two per cent
payable August 15 1910.
on
the
common
stock, both
CAPITAL STOCK.
There has been no change during
The total outstanding Capital Stock
the year in this account.
of the Company amounts
to $16,500,000 and consists of $6,000,000 preferred
stock
and of $10,500,000 common stock.
FUNDED DEBT.
During the year the $5,000 Income 6% Bonds heretofore
outstanding were purchased,and, together with the $1,000
of that issue held by the Company, turned over to the Trus¬
tee, against which $3,000 Consolidated 6% Bonds of 1882
were
issued and sold.
tee to cancel
These transactions allowed the Trus¬
$1,870,000 Income 6% Bonds, being the entire
issue of that security created in 1881.
The remaining $360,000 Construction and Improvement
4J^% notes maturing August 1 1909 were paid and canceled.
In accordance with the provisions of the 43^% Consoli¬
dated Mortgage of 1907, $1,277,000 of bonds were issued
reserve
in the
Under the terms of the
Sinking Funds for the redemption
of Equipment Bonds, $380,000 bonds were retired as fol¬
lows: $115,000 of Series “D,”
of Series “E”
$98,000
and
$167,000 of Series “F.”
Equipment bonds were issued as follows: the balance of
Series “E,” authorized in 1904,
amounting to $580,000, and
the balance of Series “F,” authorized in
1907, amounting
to $183,000.
To provide for additional rolling
stock, an issue of $3,000,000 Four Per Cent Twenty-Year Gold Bonds was
authorized,
to be secured by new equipment costing
$3,300,000. These
bonds are being issued under an Agreement known as
“Equipment Agreement, Series G,” dated October 1 1909.
This agreement provides for a sinking fund equal to
6%
per annum of the bonds issued, to be paid to the trustee on
the first day of February in each year, beginning with Feb¬
ruary 1 1911,[for the purchase of bonds of this series, if the
same can be obtained in the
open market at par and accrued
interest, or less; otherwise the trustee shall draw by lot suf¬
ficient bonds approximately to absorb at the price of
par
and accrued interest the amount of cash held by the trustee
to the credit of the sinking fund; all the bonds so
acquired
to be canceled.
During the
year
equipment bonds of this series
were
issued to the amount of $754,000.
The net result is an increase of $2,052,000 in the bonded
debt of the Company outstanding on June 30 1910.
CONSTRUCTION.
Capital account has been charged during the jn?ar with
$906,496 28 for additions and betterments to your property,
follows:
Land
Improving bridges and culverts
new
as a
Treasury of the Company.
as
divi¬
dends
June 30th 1910.
$212 88
315,000 00
$327,696 54
appropriations
available
55,095 17
sold, and the proceeds applied, as far as necessary, to
for additions and betterments, and the unexpended
alance was carried over to meet similar
expenditures in the
new year.
The Trustee also delivered to the Company
$709,000 Consolidated Mortgage 43^% Bonds, representing
50% of Equipment Bonds, Series D, E and F, retired up to
Station Improvements, Rochester, N. Y
New station, Rldgway, Pa
New office building, Du Bols, Pa
Water station, Indiana Junction, Pa
Water station, Creekslde, Pa__
Water station, Falls Creek, Pa
Water station, Ketner, Pa
Mechanical coal and ash handlers
Gas plant, Du Bols, Pa
Creosotlng plant, Bradford, Pa
Enlarging ore unloader, Buffalo, N. Y
Increased weight of rail
Shops and machinery.
Sidings and yard extensions
Second track, Elk Run Junction, Pa
Second track, Brockwayvllle, Pa., to Carman, Pa
Second track, Newton, Pa., to Mt. Jewett, Pa_.
Nesblt Run mine line
Jacksonville mine line
Other Items..
Total
a
$19,972
51,058
20,880
18,064
43,469
109,329
3,493
95,932
31,901
8,745
6,138
59,408
14,893
13,013
,19,634
131,111
55,090
15,370
72,694
36,928
65,291
14,073
.
80
13
86
90
17
38
39
92
44
05
64
88
77
87
80
31
27
06
09
39
08
08
..$906,496 28
To further provide a pure water supply for locomotives,
storage reservoir at Indiana Junction was built during the
year.
Reservoirs at Ketner, Pa., and Falls Creek, Pa.,
are now
in
course
of construction.
The mechanical
ore unloader on the Buffalo docks, pur¬
chased in 1903, was rebuilt and its capacity greatly in¬
creased.
A modern brick and stone building is under construction
at Du Bois, Pa., for the accommodation of the officers lo¬
cated at that point and will be shortly completed.
Improvements to the Rochester terminal, including the
remodeling of the passenger station, were undertaken, and
are
well advanced.
A brick and stone passenger
station was completed at
Ridgway, Pa.
.'/
A creosoting plant is being constructed at-Bradford, Pa.,
of sufficient capacity to treat the annual tie supply of your
Company. It will be ready for use by Sept. 1st and will
result in material economy in expenditures for ties.
The Nesbit Run Line, a spur track projected to tap new
mines, is now in operation; another spur track known as
the Jacksonville Line is rapidly approaching completion.
A great deal of work of a permanent character was also
done on trestles, culverts and bridges.
There were laid 1.49 miles of new double track at Elk Run
Junction, Pa., and a considerable amount of grading was
done on 8.52 miles of new double track between Newton,
Pa., and Mt. Jewett, Pa. With the completion of this link,
the main line will be double-tracked from Punxsutawneyi
Pa., to Ashford, N. Y., a distance of 131.85 miles.
Facilities for handling traffic have been materially in.
creasedjby the^construction of additional siding and yard
tracks.
AUG. 13 1910. J
THE CHRONICLE
EQUIPMENT.
The
Expenditures were made for new rolling stock
Fifteen locomotives
Three passenger service cars
Two thousand freight service cars.
as
follows:
$237,593 22
26,930 80
...
Sundry betterments, air brakes, &c., Including transfer of one
freight service car and one hundred Company’s service cars
The account was further Increased by the amount charged to
“Reserve for Accrued Depreciation” since June 30 1907, In
1,708,446 78
93,712 49
$2,066,683 29
accordance with the Classification of Expenditures for Addi¬
tions and Betterments prescribed by the Inter-State Com¬
merce Commission, effective July 1 1909
464,850 86
$2,531,534 15
There was credited for
ferred or destroyed, the
Equipment sold, trans¬
following book values,
charged in part to Operating Expenses, and the
balance, representing the depreciation written off
since June 30 1907 to “Reserve for Accrued De¬
preciation”:
Three locomotives
Two passenger service cars
Nine hundred fifty-eight freight service cars
Four Company’s service cars
$18,417 89
3,944 78
305,994 05
3,020 75
$331,377 47
Making
All
net Increase of
a
$2,200,156 68
in
freight service are now provided with automatic
couplers and 98.36% of the cars are equipped with air brakes.
When rolling stock is sold, transferred or destroyed,
oper¬
ating expense is charged with the book value, less amount
previously written off for depreciation, which is debited to
“Reserve for Accrued Depreciation”;
and the account
“Additions and Betterments—Equipment” is credited: when
purchased or rebuilt the cost is charged direct to “Additions
and Betterments—Equipment” account.
The reserve for accrued depreciation of equipment on
cars
June 30
1910 amounted to
$936,939 39.
PASSENGER REVENUES.
The average rate received per passenger per mile increased
87-100ths of a mill, being 2.063 cents, as compared with
1.976 cents a year ago.
The average distance each passenger was carried increased
57-100ths of a mile, being 30.12 miles, against 29.55 miles
last year.
Passengers carried In 1910
Passengers carried In 1909.
1,586,838
1,520,119
An Increase of 4.39%, or
Passengers carried one mile In 1910,
Passengers carried one mile In 1909
66,719
47,802,085
44,914,997
An Increase of 6.43%, or
The
result
is
a
401
2,887,088
gain of $98,744 36 in
gross passenger
physical condition of
fully maintained during the
your
year
property has not only been
but greatly improved, and
the road is in condition to handle traffic with
greater effi¬
ciency than at any previous time.
, .
^
The average cost per ton per mile is 3
mills, being 4-100ths
of a mill more than last year.
The average number of revenue tons carried one mile
per
.
freight train mile, excluding the mileage of helping
engines, increased 40.42 tons, being 637.56 tons, against
revenue
597.14 tons a year ago.
The average number of revenue tons carried
one
mile per
freight engine mile, including the mileage of helping
engines, increased 20 tons, being 420, against 400 a year ago.
The averages for the past ten years are as follows:
revenue
Year—
1901
1902
1903
1904
1905
*
The
__.
Train
Load.
406
424
441
439
507
Engine
Load.
345
353
364
357
374
figures from 1908 to date
Year—
1906
1907
1908*
1909*
1910*
_
Train
Load.
525
543
530
597
638
_
Engine
Load.
418
435
371
400
420
based on the Interstate Commerce
Commission’s classification of locomotive and train mileage.
are
The average number of revenue passengers
carried one
mile per revenue passenger train mile is 40,
being 1 less than
in the preceding year.
The non-revenue traffic, not included in
any of the other
figures of this report, is
as
follows:
Number of passengers
Number of passengers carried one mile
Numperoftons
Number of tons carried
one
mile
1910.
244,563
9,640,295
966,968
75,856,798
1909.
202,097
8,210,231
720,367
53,541,588
CLEARFIELD & MAHONING RAILWAY.
an
This Company, at a meeting
increase of its capital stock
held July 20 1909, authorized
from $750,000 to $1,000,000,
for improvements to more economically handle traffic
to pay
from the main line and from the Lake Shore &
Michigan
Southern Railway, to which trackage rights were
granted.
Of the new stock authorized, $150,000 was sold, and the
proceeds applied towards the repayment of $294,364 26
advanced by your Company for additions and
improvements,
leaving a balance of $80,614 26 to be provided for out of the
remaining $100,000 of stock authorized.
At a meeting held on November 15 1909 you authorized
the guaranty of dividends at the rate of 6% per annum on
the new stock.
By the issue of $150,000 of stock, the annual
rental of this Company is increased from $77,500 to $86,500.
FIRE INSURANCE FUND.
The assets in this fund were increased $28,851 93
during
the year, and now amount to $192,775 12 in
interest-bearing
securities and cash.
'
'
revenues.
A further gain was made in the revenues derived from
Mails, Express, Excess Baggage, incidental to the passenger
traffic, amounting tp $13,581 95.
•
FREIGHT REVENUES.
The average rate received per ton per mile decreased
l-100th of a mill, being 4.81 mills, as compared with 4.82
mills last year.
The average distance each ton was hauled decreased
79-100ths of a mile, being 154.65 miles, against 155.44 miles
a
year ago.
The
of the
tonnage moved was the largest in the history
Company, all of the various commodities showing
gains as follows:
revenue
1910.
Bituminous coal
Coke
Iron ore.
______ ._
_
Pig and bloom Iron.
Other freight
._
Total
_
Tons moved
Tons moved
1909.
Increase.
%
2,298,434
5,186,043
301,386
466,956
192,137
1,862,468
.1,340,044
276,994
91,594
16,895
435,966
25.8
91.9
19.6
8.8
23.4
.10,170,483
8,008,990
2,161,493
26.99
578,380
558,550
209,032
_
_
6,526,087
mile In 1910._
mile In 1909__
___1,572,897,173
1,244,946,097
An Increase of 26.34%, or__
327,951,076
one
one
The result for the year is a
freight
gain of $1,560,687 25 in
gross
revenues.
In addition thereto the revenues derived from Switching,
Special Service Trains, Car Service, Ganson St. Dock, &c.,
incidental to the freight traffic, show an increase of $91,-
206 55.
EXPENSES.
Operating expenses increased $1,238,734 00, or
With the exception of a decrease of $6,140 03 in
26.55%.
General
Expenses, all the general operating expense accounts show
increases, due to larger traffic, the dismantling of old rolling
stock, and outlays for the maintenance of your property,
including a charge of $230,810 28 for abandoned line and
the replacement of
bridges and other structures.
The operating ratio increased 1.02%,
being 66.7%, against
65.05% last year.
The percentage of each
group of operating expenses to
gross earnings for the past three years is as follows:
Maintenance of way
Maintenance of equipment
Traffic
1910.
.13.65
.20.78
1.35
.28.55
1.74
1909.
10.72
21.45
1.41
29.22
2.25
1908.
12.71
23.01
1.28
32.39
2 10
66.07
65.05
71.49
.
Transportation
General
.
Total
PENSION FUND.
The assets in this
fund, created July 1 1903, were increased
$16,713 32 during the year, and now amount to $145,949 70
in interest-bearing securities and cash.
There were thirty-three pensioners upon the roll on
June 30 1910, an increase of two during the year.
GENERAL REMARKS.
The
Josephine Furnace & Coke Company has commenced
building a second blast furnace at Josephine, Pa., which will
materially increase the revenue tonnage of your line.
The Ontario Car Ferry Company,
Limited, paid a dividend
of 5% for the year ending December 31, 1909.
The sum of
$12,485 received on the $249,700 of this Company's stock
credited to “Other Income” Account.
Under date of October 1 1909 an agreement was entered
into with the Lake Shore & Michigan Southern
was
Railway
Company, as lessee of the Jamestown Franklin & Clearfield
Railroad Company, by which trackage rights were
granted
over your line from Falls Creek,
Pa., to Clearfield, Pa., a
distance of 30.65 miles.
By the terms of this agreement your Company is to receive
$42,000 annually, a sum equivalent to the interest at the rate
of 4% per annum on one-half the estimated value of the line
over which trackage is
granted. The agreement also pro¬
vides for increased compensation at the same rate on onehalf of the cost of further improvements made
by mutual
consent when necessary to accommodate traffic.
The Lake
Shore & Michigan Southern Railway
Company is also to pay
its proportion of maintenance and operation over the line
used.
The agreement extends over a period of
twenty-five years,
and is to continue thereafter until canceled
by two years
notice from either party.
Trains began
moving under this
September 26 1909.
Mr. Harry Yates was, on November 15
1909, elected a
director to fill the vacancy in the Board caused
by the death
of his father, Mr. Arthur G. Yates.
The acknowledgments of the Board are renewed to the
officers and employees for their faithful and efficient services.
Statements and statistics of the operation of your road
for the year are submitted herewith.
By order of the Board,
ADRIAN ISELIN JR.,
agreement
on
President.
New York, August 2 1910.
[iComparative tables of operations, earnings,
given on page 392.]
are
expenses,
&c.,
403
THE CHRONICLE
[Voii.
LXXXXI.
LEHIGH VALLEY RAILROAD COMPANY.
FIFTY-SIXTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED JUNE 30 1910.
Philadelphia, August 10 1910.
OPERATING REVENUES.
To the Stockholders of the Lehigh Valley Railroad Company:
The Board of Directors herewith submit the fifty-sixth
annual report of the business of your Company for the fiscal
year
The
cluding
$990,126 84,
6.68 per cent, as compared with the previous
of bituminous coal offered for
transportation has not been particularly heavy, the revenue
from that class of traffic, as well as from
anthracite, has shown
a substantial increase.
The percentage of coal
freight revenue to total operating
revenues, was 43.75 per cent, a decrease of 1.01
per cent.
The coal and coke tonnage
transported, not including
supply coal, amounted to 14,034,396 tons, an increase of
761,260 tons, or 5.74 per cent.
ended June 30 1910.
year.
MILEAGE.
The first-track mileage owned or controlled and operated
by the Lehigh Valley Railroad Company, the main line of
which is double track, extending from Jersey City, N. J.,
to Buffalo and Suspension Bridge, N. Y., is as follows:
Miles.
Owned, or controlled by ownership of entire capital stock
Controlled by ownership of majority of capital stock
Controlled by leases
Total mileage operated (owned and controlled)
Trackage rights over railroads owned by other companies
Total first track mileage
1,242.74
115.37
27.88
1,385.99
47.03
1,433.02
The number of tons moved one mile amounted to
2,165,an increase of 147,514,126 ton miles, or 7.31
per cent.
The average haul increased from 152.01 to 154.27
miles,
increase of 2.26 miles, or 1.49 per cent.
The coal tonnage was 51.63
per cent of the total tonnage
hauled during the year, as compared with 53.39
per cent
for the previous year,
being a decrease of 1.76
an
per
The
transportation of merchandise freight produced a
of $14,757,799 34, an increase of
$1,465,968 44, or
11.03 per cent, as compared with the
preceding year. It is
revenue
of interest to note that the increase in merchandise
has been greater than in the case of coal
freight
freight. While
every effort has been made to increase the latter, it has been
the policy of your management in recent
years to develop
especially the merchandise traffic.
The percentage of revenue derived from the
transporta¬
tion of merchandise freight to total
operating revenues was
arrangement of the Deringer and Tomhicken branches,
heretofore operated as single track lines, which has enabled
the use of a portion of the Deringer Branch as the second
track of the Tomhicken Branch.
The only other changes of
importance in the mileage are those resulting from the con¬
struction of 5.77 miles of additional third and fourth track,
mention of which is made elsewhere in this report.
40.80 per cent, an increase of .69
per cent.
The tonnage moved, exclusive of
OPERATING REVENUES AND EXPENSES.
The gross operating revenues for the year, not including
other income, amounted to $36,167,398 17, an increase of
GROSS OPERATING REVENUES.
Coal freight
Merchandise freight..
Passenger
Mall
1910.
1909.
$15,821,797 62 $14,831,670 78
14,757,799 34
13,291.830 90
4,330,172 45
3,905,062 74
193,859 75
462,437 70
356.165 22
245.166 09
Increase (+) or
Decrease (—).
+ $990,126 84
+ 1,465,968 44
+ 425,109 71
—16,039 26
—56,211 98
+48,439 47
+59,748 78
209,899 01
406,225 72
307,725 75
185,417 31
Total operating revenues $36,167,398 17 $33,137,832 21 +
$3,029,565 96
OPERATING EXPENSES.
Maintenance of way and
structures
$3,462,903 41 $3,273,339 47
+ $189,563 94
Maintenance of equipment
5,995,810 09
5,832,430 15
+ 163.379 94
Traffic expenses
918,720 11
810,293 00
+ 108,427 11
Transportation expenses._ 10,593,565 10
9,949,909 59
+ 643,655 51
General expenses
713,148 52
709,764 09
+ 3,384 43
Total operating expenses $21,684,147 23 $20,575,736 30
+$+108,410 93
Net Operating Revenue...$14,483,250 94 $12,562,095 91 +$1,921,155 03
Express
Other transportation
Miscellaneous
Ratio of operating expenses
to operating revenues
59.95%
62.09%
-2.14%
cent.
MERCHANDISE FREIGHT.
The decrease of 8.29 miles of first track and the increase
of 9.13 miles of second track are due principally to a re¬
$3,029,565 96, or 9.14 per cent, over the preceding year,
and are the largest in the history of the Company.
It may
be pointed out that the increases in revenue have occurred,
with one exception, in each month of the year during
a period when the general business of the
country has not,
to any appreciable extent, advanced, but on the other hand
has during the last few months shown some evidence of
receding. While the solicitation of both passenger and
freight traffic has been actively carried on in competition
with other lines, the increase may in large measure be
ascribed to the high character of service rendered shippers
and the traveling public, your management having consist¬
ently sought to improve the service, believing, as has un¬
doubtedly been the case, that the revenues would respond
to the improvement in the service.
Notwithstanding the high character of the service rendered
and with a liberal allowance for maintenance and deprecia¬
tion of the property, the operating expenses have increased
but $1,108,410 93, or 5.39 per cent, over the preceding year,
and are actually lower than for the fiscal years 1907 and
1908, when the earnings closely approximated those of the
present year. It is particularly gratifying to observe that
the expenses have been so controlled that the major portion
of the increase in gross earnings has been retained in the
net operating revenue, making the total of the latter $929,134 85 in excess of the best previous year.
It is also perti¬
nent to state that these results have been attained during a
year when practically all the elements of cost entering into the
expense of operation have materially advanced. One of the most
serious of these is the increase in rates of wages granted
to all
classes of employees.
While this has affected the results for
the year it has only been in the latter months, as the more
important increases did not apply until after January 1st.
The ratio of operating expenses to
operating revenues
was 59:95 per cent, a decrease of 2.14
per cent as compared
with the preceding year.
The following statement shows the gross
revenues, ex¬
penses and net revenue from the operation of the entire
system for the fiscal year, not including other income,
compared with similar figures for the fiscal year 1909.
or
Although the volume
127,775,
Of the above, 597.19 miles, or 41.67 per cent, have second
track, 62.24 miles have third track and 27.86 miles have
fourth track.
There are also 1,141.12 miles of yard tracks
and sidings on the system, making a total of 3,261.43 miles
of track in operation at the close of the year.
The average
number of miles of railway operated for the year, and upon
which the mileage statistics in certain tables submitted in
this report are based, was 1,440.25.
From—
COAL FREIGHT.
derived from the transportation of coal, in¬
coke, amounted to $15,821,797 62, an increase of
revenue
13,147,141 tons,
an
increase of
per cent.
The number of tons carried
430,189,
per cent.
a
an
one
Company’s material, was
1,561,072 tons, or 13.47
mile amounted to
increase of 191,234,501 ton miles,
2,571,8.03
or
The average haul decreased from 205.44 to 195.59
decrease of 9.85 miles, or 4.79 per cent.
miles,
GENERAL FREIGHT.
The total
revenue
from both coal and merchandise
'
freight
$30,579,596 96, an increase of $2,456,095 28, or 8.73
per cent, as compared with the previous twelve months.
The entire freight traffic amounted to 27,181,537
tons,
being an increase of 2,322,332 tons, or 9.34 per cent.
The number of tons carried one mfle was
4,736,557,964,
an increase of 338,748,627 ton miles,
or 7.70 per cent.
The average distance carried was 174.26 miles, a decrease
of 2.65 miles, or 1.50 per cent.
The average revenue per ton was 112.50 cents, against
113.13 cents last year, being a decrease of .63 cent, or .56
per cent.
Company’s freight, not included in the above, amounted
to 2,718,057 tons, an increase of 479,102 tons, or 21.40
per cent.
The total freight train mileage was 8,733,264 miles, an
increase of 516,845 miles, or 6.29 per cent.
Revenue received per freight train mile was $3 50, as com¬
pared with $3 42, being an increase of $0 08, or 2.34 per cent.
The average train-load of revenue freight was 542.36 tons,
an increase of 7.11 tons, or 1.33 per cent.
Including Com¬
pany’s freight, the average train load was 561.51 tons, as
against 553.13 last year, an increase of 8.38 tons, or 1.52
per cent.
The average number of tons of revenue freight in each
loaded car was 22.65 tons, a decrease of .20 ton, or .88 per
cent.
Including Company’s freight, the average carload
was 23.45 tons, a decrease of .17 ton, or .72 per cent.
was
PASSENGER.
The receipts from passenger traffic amounted to
172 45, an increase of $425,109 71, or 10.89 per
$4,330,cent,
as
compared with the previous year. Following a recent
decision by the Supreme Court of the State of Pennsylvania
as to the law enacted by that State in 1907
reducing the
rates of fare to a maximum of two cents per
ger rates in Pennsylvania in effect prior to
mile, the passen¬
that law will be
restored.
The total number of passengers carried was 5,172,961,
an increase of 296,160, or 6.07 per cent.
The number of passengers carried one mile increased
or 10.88 per cent.
The average revenue per passenger was 83.71 cents, an
increase of 3.64 cents, or 4.55 per cent.
The average revenue per passenger per mile was 1.749
cents, showing no change as compared with the previous
year.
The average distance traveled by each passenger was
47.86 miles, an increase of 2.07 miles, or 4.52 per cent.
Passenger train mileage was 4,150,858, an increase of
136,076 miles, or 3.39 per cent; whereas traffic increased
10.89 per cent.
24,289,815,
The revenue from passengers per passenger train mile was
104.32 cents, an increase of 7.05 cents, or 7.25 per cent.
The average number of passengers per
was 59.65, an
increase of 4.03, or 7.25 per cent, and the average number of
train
passengers per car was
17.24,
an increase of .63, or 3.79%.
MAIL.
received for the transportation of United States
mails amounted to $193,859 75, a decrease of $16,039 26,
due entirely to the change in the method employed by the
Government in arriving at the average amount of mail
carried at the time of the re-weighing, which occurred last
year; the new rates becoming effective at the beginning of
The pay
the fiscal year.
EXPRESS.
The express revenue
of
$56,211 98.
403
THE CHRONICLE
A UG. 13 1910.
amounted to $462,437 70, an increase
OTHER TRANSPORTATION.
The revenue derived from
shown under the preceding
increase of $48,439 47.
transportation other than that
headings was $356,165 22, an
MISCELLANEOUS.
Miscellaneous revenue amounted to $245,166 09, an in¬
crease of $59,748 78.
OPERATING EXPENSES.
MAINTENANCE OF WAY.
Three chair cars were converted into passenger coaches
and one combination car into a baggage and mail car.
Four passenger coaches and seventeen freight equipment
transferred to road service.
Seven hundred and sixty-nine locomotives received heavy
and general repairs, an increase of forty-four over the pre¬
cars were
vious year.
equipment cars were rebuilt, one dining
remodeled and two baggage and mail cars rebuilt to
conform to Government requirements.
Fifteen passenger
car was
Four hundred and
thirty-four passenger equipment cars
painted and varnished, five equipped with wide vesti¬
bules and five with standard steel platforms.
Twenty-one
passenger cars were equipped with new standard steps and
were
five with new steel trucks.
Steel underframes were
applied to 2,700 wooden freight
a total of 3,532 cars so equipped during the
last two years.
The cost of doing this work has necessarily
increased the expense for repairs, but will be more than off¬
set by a considerable saving hereafter in maintenance.
23,247 freight equipment cars received heavy repairs.
The total number of locomotives at the end of the year
was 874, with a tractive power of 24,254,993 pounds, an
increase of 551,943 tractive pounds.
The total number of
cars,
making
freight equipment cars was 44,158 with a capacity of 1,595,expenditures for maintenance of way and structure0 667 tons, an increase of 1,782 cars and 89,872 tons.
TRAFFIC EXPENSES
amounted to $3,462,903 41, an increase of $189,563 94, or
The expenditures under this heading amounted to $918,5.79 per cent, over the preceding year.
The property has
720 11, an increase of $108,427 11 over the previous twelve
been fully maintained at its usual high standard.
This is due to increased expenditures for the
months.
During the year six new bridges were constructed of steel.
Twenty-eight steel bridges and ten concrete-steel bridges, solicitation of passenger and freight traffic, the establish¬
replacing light iron or wooden bridges, were built. Eleven ment of additional agencies for this purpose and a more
small bridges were replaced by pipe culverts and eight liberal appropriation for advertising, all of which have ma¬
bridges abandoned and the openings filled. Three wooden terially aided in increasing the business. The cost of print¬
overhead highway bridges were replaced by steel bridges ing and filing tariffs as required by law has also increased
The
and
one
removed.
these expenses.
Bridges on the Auburn and Ithaca Branch have been
renewed and strengthened, enabling the use of heavier
power on that section of the road.
The policy of laying drain tile in
tinued
on a
wet cuts has been con¬
large scale, 60,378 feet being used during the
in
year, resulting
maintenance.
a more
stable roadbed with lower cost of
122,117 cubic yards of crushed stone were used for the
purpose of fully
tracks previously
ballasting additional track and repairing
ballasted with stone.
164,577 feet, or 31.17 miles, of Company’s sidings and
23,390 feet, or 4.43 miles, of industrial sidings were con¬
structed.
18,214 tons of new 90-pound rail, together with necessary
frogs, switches, &c., were placed in the track. »
322,793 tie plates were used.
544,747 cross ties, 1,587,000 feet B. M. switch ties, 691,389
feet B. M. bridge ties and lumber amounting to 2,450,976
feet B. M. were used during the year.
24.20 miles of telegraph and telephone pole line were re¬
built and 63.00 miles reset.
540.50 miles of new copper,
47.10 miles of new iron, 59.79 miles of second-hand copper
and 15.30 miles of second-hand iron wire were used in ex¬
tending telephone, telegraph and signal wires. 54.40 miles
of iron wire were used in replacing worn-out wires in the same
service.
*
Pier B, Jersey City, destroyed by fire in March 1909, was
restored as an open pier at a cost of $45,430.
In order to enable large vessels to reach the ore and coal
dock at the Tifft Farm Terminal a channel 22 feet in depth
is being dredged, for which $20,525 has been expended.
MAINTENANCE OF EQUIPMENT.
expenses for the maintenance of equipment
during the year amounted to $5,995,810 09, an increase of
$163,379 94, or 2.80 per cent, as compared with the previous
twelve months.
This increase is due principally to the
The
total
extensive repairs made tob the freight equipment generally
as a result of the increased traffic handled by the Company.
is in excellent condition and reflects the wis¬
expenditures for maintenance during past
years.
Included in the expenses for the year is an arbitrary
charge of $1,004,69S 58 for depreciation of equipment,
in compliance with accounting regulations of the InterThe equipment
dom of liberal
State Commerce Commission.
New equipment was purchased during the year and charged
to Additions and Betterments.
The equipment acquired
consisted of twenty freight and eight switching locomotives,
eleven hundred 100,000-pounds capacity steel gondola cars,
nine hundred 80,000-pounds capacity steel underframe box
hundred and fifty steel underframe refrigerator
cars,
one
cars,
two hundred steel underframe automobile cars and
eleven caboose cars.
Two steam wrecking cranes,
locomotive cranes, one electric magnet crane and
four
one
spreader car were also purchased. In addition orders were
placed for eighteen steel passenger coaches, ten passenger
locomotives, five switching locomotives and other equip¬
ment, delivery of which will be made during the early part of
the next fiscal year.
Twenty-seven worn-out locomotives were disposed of and
book value written off by an appropriate charge
through Operating Expenses.
Three passenger coaches, one combination passenger and
baggage car, 562 freight equipment cars and 220 road service
cars were
condemned and destroyed during the year.
their
TRANSPORTATION EXPENSES.
The total cost of conducting transportation was
565 10, an increase of $643,655 51, or 6.47 per
$10,593,cent, as
The higher rates of
compared with the preceding year.
wages paid employees is the principal reason for the increase
in this class of expense.
The ratio of transportation ex¬
penses to total operating revenues was 29.29 per cent, as
compared with 30.03 per cent last year, a decrease of .74%.
GENERAL EXPENSES.
for general administration amounted to
increase of $3,384 43, or .48 per cent, over
the previous year.
While the general increase in rates of
wages granted by the Company to employees had a serious
effect on these expenses, it has, to some extent, been offset
by reductions made in other directions.
The
expenses
$713,148 52,
an
TAXES.
The taxes accrued on your property and business during
the year amounted to $1,106,761 89, or 3.06 per cent of the
Company’s revenue, an increase of $27,385 66 over the
preceding year.
FLOATING EQUIPMENT.
The floating equipment of the Company has been thor¬
oughly maintained and increased by the purchase of seven¬
teen coal barges and one 23-car steel float.
One work boat
was
built for
use
in New York Harbor.
Orders have been
placed for additional equipment consisting of two steel car
floats, a steel tug and open lighters and barges. One steam
lighter has been converted into a fueling vessel; one barge,
covered by insurance, was abandoned to underwriters as the
result of an accident, and one old car float was sold.
The floating equipment in New York Harbor or engaged
in coastwise business
20 tugs
25 car floats
4 work boats
was as
follows:
5 steam lighters
3 cattle floats
1 wrecking boat
212 barges
1 hoisting boat
1 fuel lighter
Extensive repairs were made to the equipment comprising
the fleet on the Great Lakes.
The vessels, all of which are
of steel, are as follows:
Name—
Wilkes-Barre
Mauch Chunk
Bethlehem
Capacity.!
Name—
6,000 tons Seneca
Saranac
6,000 “
Tuscarora
3,000 “
__
Capacity.
3,000 tons
.3,000 “
3,000 “
ADDITIONS AND BETTERMENTS.
Liberal expenditures were made throughout the year for
the acquirement of additional property and facilities and for
the improvement and development of existing property.
The total expenditures for additions and betterments
amounted to $5,205,205 10, of which $843,877 30 was de¬
ducted from Income.
This policy of liberal expenditures
for improvements must continue in such measure as the
resources and business of the Company will, from time to
time, justify, if your property is to be fully developed and
earning capacity increased. With the exacting demands
upon railroads in the matter of service, it is of prime im¬
portance to provide facilities for the prompt movement and
delivery of freight, not only to retain the present traffic
but to provide for its increase.
Of equal importance are
those expenditures which must be made for the removal of
grades, reduction of curves, extension of third and fourth
tracks, enlargement of yards and improvement of terminals,
to offset the constantly increasing cost of transportation.
Your Board has recently authorized the construction of a
single-track branch from Lumber Yard to a connection with
the main line at Hays Creek, a distance of about twelve
its
404
THE
CHRONICLE
miles, with the necessary classification yard, engine house,
shop for light-car repairs and fuel and water facilities, at an
estimated cost of $1,500,000.
The construction of this line
will materially reduce the cost of
operation by providing a
shorter route for westbound traffic from the Mahanoy and
Hazleton regions, and by enabling the classification of coal
shipments in the vicinity of the mines, thus avoiding the
congestion at Packerton and the reverse movement at Penn
Haven Junction.
In addition to facilitating the movement
of freight by reducing the distance to be hauled, the new line
will remove a large volume of traffic from a part of the road
where very heavy grades are now encountered.
The con¬
struction of this branch will also obviate the necessity for
additional yard tracks at Penn Haven Junction, which would
soon
be needed to relieve what threatens to become
a
serious
[VOL.
LXXXXI.
been installed at Oneida
Junction, Audenried and Delano
Yard, and a new interlocking plant at the outlet of the west¬
bound yard at Packerton.
Additions were made to the
plants at South Plainfield and South Easton. One five-track
and two four-track
signal bridges have been erected.
A combined
heating and electric-lighting plant was built
at Wilkes-Barre to furnish heat for the
passenger and freight
station and coaches, and
lighting for
and platforms, at a cost of $11,660.
New combined passenger and
freight
at
the various buildings
stations
were
erected
Honeoye Falls, East Waverly and Interlaken, and a new
passenger station at Freeville, the aggregate cost being
$39,466.
The freight station and
yard at Allentown were raised
and the driveways
paved with stone. A new freight transfer
platform was also constructed with a modern fire-protection
system. Team delivery tracks and stone-paved driveways
were
congestion at that point. The final surveys are now being
made preliminary to the active construction of this new
branch, which will be prosecuted in such a manner as to
installed at South Bethlehem and Ithaca.
enable the economical double-tracking thereof at a later
A large
capacity air compressor was purchased for use at
South Easton shop, at a cost of $11,120, and an
date, if deemed advisable.
electricSurveys are also being made for double-tracking the line battery renewal plant was installed at Packerton at a cost
between Laurel Junction and Silver Brook Junction, a dis¬ of $2,051.
tance of about six miles, the construction of which will
Extensive improvements were made to
milk-shipping sta¬
shortly be commenced. This line connects at both ends tions at Clinton, West Portal, Three Bridges, Jutland, Mc¬
with double track, and in addition carries the traffic of the
Adams, Truxton, Groton and Interlaken.
New Boston Branch, with the result that it is badly con¬
A 30-ton electrically
operated crane was installed at the
gested. The proposed improvement is necessary not only to 149th Street Terminal, New York City. Additional facili¬
facilitate the movement of the present traffic, but to provide ties were
provided at 124th Street, New York City, consisting
for the increase which will result from the opening of the of a new
freight shed, crib and bulkhead, at a cost of $11,636.
Lumber Yard-Hays Creek Branch.
The ore dock at the Tifft Farm Terminal on Lake Erie was
When this work is com¬
pleted your Company will have a continuous double-track line improved and two large capacity cranes purchased for
loading
from Mount Carmel and Gum Run Junction to Lumber Yard.
vessels.
A special crane equipped with a magnet was also
The work of extending third and fourth tracks through
purchased for handling shipments of pig iron at that loca¬
congested territory has been actively continued. Extensions tion. The cost of this work in connection with an
improve¬
from Redington to Richards Farm, a distance of 1.91 miles,
ment to the Hamburg Turnpike amounted to
$85,312.
and from Gap Junction to a point west of Fullerton, including
Improvements in ash track and engine-house facilities have
a change of alignment at the latter
point, a distance of 1.38 been made at several points to admit of more prompt and
miles, are completed, and the tracks in service, making a economical operation. New concrete coal and ashpits were
continuous four-track system in this section of 15.89 miles. installed at
Lehighton and Delano and a concrete ashpit at
A further extension from Fullerton to Cementon, a distance
Jersey City, all of which are operated with locomotive cranes.
of 4.29 miles, is in course of construction.
The aggregate Similar cranes have also been provided for use in
handling
expenditures during the year were $293,809.
fuel and ashes at Cortland and Auburn.
Twelve-inch water
In extending the four-track system through South Beth¬ cranes were installed at
Deep Hollow, Gardners Run and
lehem, a decided improvement in the alignment is being Tagues Eddy, and ten-inch water cranes at Jersey
City,
made by eliminating a sharp reverse curve in the main line.
Packerton and Hazleton Shops.
This will also render available space for an ultimate
yard
Telephone train-dispatching lines have been installed on
development of 1,250 cars capacity. The expenditures on the Mahanoy & Hazleton Division and on the New Jersey
this account were $61,304.
& Lehigh Division in Pennsylvania, at a cost of
An extension was also made of the fourth track from Park Additional lines are in course of construction on the$27,815.
Wyom¬
Avenue, South Plainfield, to Potters, a distance of two miles, ing, New Jersey & Lehigh and New York Divisions.
completing the four-track line in this territory from New
Market to Potters, a distance of six miles.
FINANCIAL.
In connection
with this work one and a quarter miles of track east of Potters
Your Board of Directors, after due consideration,
has
was raised a maximum of
eight feet, effecting a considerable deemed it to the best interests of the stockholders to finance
reduction in the grade.
The total expenditures for this im¬ the needs of the Company for additional cash funds by the
provement were $43,378.
issuance and sale of common capital stock.
Accordingly the
A receiving track 2.4 miles long was constructed at the
Board, acting with the approval of the stockholders, given
west end of Perth Amboy Yard and four additional tracks at a
special meeting held June 22d last, has authorized an
were laid, increasing the
capacity of the yard by 350 cars, increase in the common capital stock of the Company
at a cost of $38,984.
This has rendered possible a saving in from $40,334,800 to $80,000,000, and the issuance and sale
expenses by reducing the switching.
of $20,220,550, or 404,411 shares, of such additional stock
To relieve the sidings and yard tracks and
provide storage to shareholders at par, this being in the proportion of one
for cars awaiting repairs, storage tracks were laid in
Sayre share of new stock to two shares of old stock. This will
yard, with a capacity of 250 cars, at an expense of $6,186.
rovide the Company with $20,220,550 in cash, which will
Revisions of line were made, eliminating sharp reverse
e used to pay the $6,000,000 Seven Per Cent Second Mort¬
curves at Meshoppen and Kittredge, at an
expense of $80,596. gage Bonds maturing September 1st 1910, for the retirement
At the former point the tracks were changed for a distance of of other
obligations and for those expenditures generally
3,000 feet, and at the latter point for a distance of 2,600 feet. which may be necessary to enable the Company to render
Owing to the surface sinking, due to mining operations of adequate and proper transportation service in the territory
outside companies, it became necessary to re-grade the track reached by its lines of railroad.
The balance of the au¬
between Shenandoah Junction and Packer No. 4
Colliery, thorized but unissued common capital stock will be reserved
and in connection therewith the alignment was
improved. for future needs.
The work was started during the previous fiscal
The outstanding obligations of the Company were reduced
year and is
now practically
completed, the total cost to date being during the year by the sum of $2,490,000, representing the
$53,885.
maturity of $1,000,000 Collateral Trust Four Per Cent
Additional - tracks were constructed at the Tifft Farm
Bonds, the retirement of Equipment Trusts Series D and G,
Terminal, the cost being $40,948. This has enabled an inter¬ amounting to $500,000 (the payment of the latter series
change at that point instead of at East Buffalo with connect¬ which became due August 1st 1910 having been anticipated
ing railroads, effecting a considerable saving in expenses. It before the close of the fiscal year), and by the payment of
has also afforded the necessary additional room in which to
maturing installments on Series H, I, and J to the amount
make up solid trains for eastern terminals,
thereby reducing of $990,000. The Trust Agreements D and G have been
the switching expense at intermediate yards.
canceled and the title to the equipment pledged thereunder
The construction of the new high-grade line at
vested
in your Company.
There is now outstanding in the
Greenville,
mentioned in the last annual report, was completed soon after hands of the
public but one Equipment Trust obligation,
the close of the year, and the same is now in
operation. Series J, in the sum of $3,750,000. Equipment Trusts
The total amount expended on this work to date is
$384,594. Series H and I are in the treasury and available should
At West Danby the work of changing the
alignment, occasion arise.
which has been in progress for some time, was
The retirement of the obligations mentioned, together
completed, the
expenditures for the year amounting to $41,192. The with the maturity of $6,000,000 Second Mortgage Seven
change in track covered a distance of about one mile and Per Cent Bonds falling due September 1st 1910, will effect an
has reduced the curvature by 109 degrees.
annual saving hereafter of $505,000 in the fixed charges.
The Tomhicken and Deringer Branches, heretofore
The many water operations owned and conducted by your
op¬
erated as single-track lines, have by the construction of an
Company, originally acquired for the purpose of protecting
additional track between Long Run Junction and
Cranberry and maintaining an adequate water supply for the system,
Junction, a distance of 1.4 miles, and by the use of the Penn¬ have grown to considerable magnitude and importance. In
sylvania Railroad tracks between Tomhicken and Gum Run, the development of these properties it has been necessary to
been put in operation as a double-track line between Hazle¬ advance, from time to time, funds for the enlargement and
ton Junction and Gum Run, a distance of 10.4 miles,
improvement of the several plants. To provide the addi¬
j The Perth Amboy Branch has been equipped with upper tional capital required for the future extension - thereof a,
quadrant automatic block signals. Block signals have also comprehensive financial plan has been adopted. In con-
Aug. 13
THE CHRONICLE
1910.]
nection therewith and to effect that economy which results
from concentration, the operations have been placed under
the management of one Company, viz.:
the Wyoming
Valley Water Supply Co., the entire capital stock of which
is owned by your Company.
This has been accomplished
by leasing thereto all the property of the various water
companies. The Wyoming Valley Water Supply Co. further
acquired by purchase from the Lehigh Valley Railroad Com¬
pany all of the capital stocks of the Hazleton Water Com¬
pany, Locust Mountain Water Company, Beaver Meadow
Water Company, Blackwood Water Company, Centralia
Water Company, Citizens Water Company of Tremont,
Delano Water Company, Denison Township Water Com¬
pany, Drifton Water Company, Oneida Water Company,
Tomhicken Water Company and Wright Township Water
Company; also $300,060 Bonds of the Hazleton Water
Company and $125,000 Bonds of the Locust Mountain
Water Company.
For the payment thereof the Wyo¬
ming Valley Water Supply Company increased its capi¬
tal stock from $1,000 to $100,000 and created a First
Mortgage securing an issue of $2,000,000 Fifty-Year Five
Per Cent Gold Bonds, the latter secured by a pledge of all of
the real estate, water rights, pumping plants and pipe lines,
owned or hereafter acquired, as well as the stocks and bonds
above named.
The Water Supply Co. delivered to your
Company at par its increased capital stock and $895,000 of its
Bonds in payment for the stocks and bonds of the several
water companies and for certain advances made to them,
not previously reimbursed.
The balance of the bonds se¬
cured by the Wyoming Valley Water Supply Co. Mortgage
will be issued thereunder as additional funds
The capital stock and bonds received from the
are
necessary.
Water Supply
treasury, the bonds being available for such
Co. are in your
future needs as may arise.'
Five Per Cent Gold Debenture Bonds in amounts as follows:
The Lehigh Valley Rail Way Company, $825,000; Lehigh
Valley Railroad Company of New Jersey, $1,200,500; Loyal$7,500; Lehigh Valley Transporta¬
Pennsylvania & New York Canal
$325,500, and Montrose Railroad
Company, $3,500. These debentures have been placed in
the treasury or pledged as collateral under the General Con¬
solidated Mortgage of September 30 1903, as required
thereby.
The Philadelphia Grain Elevator Company, to which your
Company has from time to time advanced varying sums of
money in promoting the shipping and grain business of the
Port of Philadelphia, represented by notes of that Company,
underwent a financial reorganization during the year.
As a
result the notes were taken up by the Elevator Company
and $205,000 of its capital stock was issued and received in
sock Railroad Company,
tion Company, $422,000;
& Railroad Company,
lieu thereof.
Your Company sold $220,000 Bonds of the Mutual Termi¬
nal Company of Buffalo, the proceeds
being used for capital
expenditures.
The charter of the Buffalo Thousand Islands & Portland
a
corporation organized
some years ago
in connection with the New York Central & Hudson River
Railroad Company for the purpose of building an additional
line from Buffalo to the Niagara
Frontier, having expired
by limitation, and the necessity for the construction of such
road having passed, a new corporation,
the Fair Land
Realty Company, was organized to take over and dispose
of in such manner as may be most
advantageous the real
estate held by the former
Company. The capital stock of
the Fair Land Realty
Company amounts to $5,000, and
is owned one-half each by the New York Central & Hudson
River Railroad Company and your
Company. The stock of
the Buffalo Thousand Islands & Portland Railroad
Company
was
canceled and an appropriate
entry charging off its
a
was
made to Profit and Loss Account.
There have been
outstanding for many years five shares of
capital stock of the Schuylkill & Lehigh Valley Railroad
Company. These were acquired during the year upon
the
favorable terms and the entire
capital stock of that subsidiary
company is now owned by your Company.
The form of General Balance Sheet submitted in this
report
is that prescribed by the Inter-State Commerce Commission.
The changes therein
whereby the profits of the Company
have apparently been increased are due
entirely to orders
issued by that Commission
over
which
prescribing methods of accounting
officers
have no control.
While the
methods in certain particulars would seem to be somewhat
at variance with conservative
accounting and have produced
your
charges to Capital Account which, in the opinion of your
management should have—and if left to their discretion
respects with the various orders issued by the Commission.
The most notable innovations ordered in the Balance Sheet
are:
first, an arbitrary date, June 30 1907, is taken for the
investment account, Road and Equipment; second, all ex¬
penditures after that date.for investment in road and equip¬
ment, or additions and betterments, must be charged to
“Investment since June 30 1907,” whether paid for out of
income or not; third, the credit resulting from depreciation
of equipment from June 30 1907 must be deducted from
Road and Equipment Account, instead of being available
for the replacement of equipment as heretofore; fourth, addi¬
tions and betterments charged to Income since June 30 1907
must be restored
Loss.
as
above stated and credited to Profit and
These
changes necessarily disturb, to a considerable
extent, comparisons between the present Balance Sheet and
those in previous reports, and although appropriate explana¬
tion is hereinafter made of all those increases and decreases
in the Company’s assets and liabilities which represent
material changes as compared with June 30th last, no attempt
has been made to explain all the apparent discrepancies
which are due solely to the adoption of the Commission’s
classification in place of that heretofore used by your com¬
In this connection, more or less difficulty has been
experienced in interpreting the order requiring a certain
classification of the various stocks and bonds owned by the
Company, particularly in determining whether securities
are marketable or not, and whether those shown as invest¬
ments might not be available for sale if the necessity arose.
The Reserve for Accrued Depreciation of $2,886,720 50
deducted from Road and Equipment Account is in pursuance
pany.
of the orders of the Inter-State Commerce Commission mak¬
serve
necessary to restore to Equipment Replacement Re¬
those sums which had been charged to this account for
equipment purchased for replacement purposes, in accord¬
ance with the Commission’s
previous orders. The reserve
in question, therefore, represents the depreciation accrued
by the Company since June 30 1907, less the amounts apply¬
ing to equipment taken out of service.
The decrease in the Real Estate Account is due in the main
to the requirements of the Inter-State Commerce Commission
that all real estate owned by the Companjr and used for
railroad purposes be carried in Road and Equipment Ac¬
count.
There was also transferred from Real Estate Ac¬
count to Advances to Subsidiary Real Estate Companies the
cost of certain properties the titles to which are in the names
of the respective real estate companies.
The value of- the so-called Coxe Properties decreasing as
the coal is mined therefrom, the sum of $1,000,000 was ap¬
propriated from the General Reserve Fund and applied in
reducing the book value thereof, as represented by the owner¬
ship of the capital stock of Coxe Brothers & Company, In¬
corporated. In view of the small balance remaining in that
Reserve, it has been closed by a transfer to Profit and Loss
Account.
The charge
of $49,809 to Profit and Loss Account for prop¬
erty abandoned at Delano is in accordance with the Govern¬
ment’s requirements and represents a few antiquated shop
buildings, engine house and similar structures, the necessity
for which has passed.
The increase in Other Income shown in the item Mis¬
cellaneous is due principally to increased per diem charges
and interest on the Company’s cash funds.
The value of materials and supplies on hand at the close
of the year amounted to $1,895,916 70, a decrease of $188,282 81.
Working Assets
are
$19,498,618 11 in
excess
Liabilities.
.Railroad Company,
value
would have—been absorbed in Operating Expenses, never¬
theless your Company has endeavored to comply in all
ing it
Complying with the orders of the Inter-State Commerce
Commission requiring that all additions and betterments
made to the property since June 30 1907, no matter 'whether
paid for out of income or not, be set up as a capital asset,
expenditures of that nature made on the line of the Lehigh
Valley Railroad Company have been included on the Balance
Sheet under Road and Equipment.
A large part of the addi¬
tions and betterments made to the system, however, has
been on the property of subsidiary companies in the names
of which the title to the improvements becomes vested.
These additions and betterments were therefore brought
on
the books as advances to those companies and have
been reimbursed to the Lehigh Valley Railroad Company
by the subsidiary companies creating and issuing Fifty-Year
405
of Working
The usual dividends of ten per cent upon the preferred
capital stock and six per cent upon the common capital
stock were declared during the year, payable in January
and July 1910 as semi-annual dividends of five per cent
and three per cent respectively.
Following the usual practice, the accounts of the Company
for the fiscal year have been examined and the cash and
securities verified by certified public accountants, the result
of which is set forth in the accountants’ certificate, given on
page 21 [of pamphlet report].
GENERAL REMARKS.
The conditions now surrounding the railroad operations
in this country present an element of uncertainty and appre¬
hension that should receive the sober and earnest reflection
of investors generally.
Time and experience alone will
demonstrate the benefit or harm attending the methods
employed by Federal and State authorities in the regulation
and control of the vast industries of this country.
The
greater difficulties now encountered in corporate manage¬
ment are apparent to all.
The problem of offsetting the in¬
crease in rates of
wages paid employees and in all of those
costs entering into the expense of
operation must be met.
The logical and business-like solution in this, as in any other
occupation, would be an advance in the rates for service
performed. If for any reason, however, the gross revenues
cannot be so increased, the constantly increasing cost of the
service will diminish the net revenue of the Company, and it
becomes, therefore, of the utmost necessity to effect the
greatest possible economies in operation. This problem of
keeping the expenses of the Company within reasonable and
THE CHRONICLE
406
impairment of its physical
well-being has been given the most careful study and
attention by your management and many improved methods
and economies have been introduced which have materially
reduced the units of cost in various branches of the service.
The policy has been continued of discarding locomotives
of small tractive power and obsolete design for heavier power
capable of hauling a greater tonnage. Freight cars of
limited capacity, expensive to maintain by reason of their
age, have been torn down and replaced by steel cars of large
capacity. In the case of wooden cars of fair capacity
and in generally serviceable condition, steel underframes
have been substituted for those of wood.
These improve¬
ments in the character of the equipment, combined with the
reduction in grades and straightening of alignment, a policy
which will continue as the future may justify, have resulted
in increasing the average number of tons of revenue freight
in each train from 485.52 tons for the year 1903 to 542.36
tons, or 56.84 tons. This increase in the train-load naturally
results in a corresponding decrease in the cost per ton mile.
well-defined limits, without any
The extension of third and fourth track and the construc¬
tion of additional passing sidings in the territory of greatest
traffic density, with the important additions that have
been made to yards at terminals, have been of decided benefit
in not only reducing the expense for overtime but in ac¬
celerating the movement of trains.
The experiments conducted by the Company in the matter
of despatching trains by telephone instead of by telegraph
have been successful and on that portion of the road so
equipped the change has resulted in a safe and prompt
movement of trains.
It is being rapidly extended to all
parts of the line.
Notwithstanding the greatest economy, the operation of
the Lehigh & New York Railroad has resulted for the year in a
further loss of $126,476 96.
This property, as has hereto¬
fore been stated, is operated under a lease executed in the
The matter
year 1895, which has been far from profitable.
is a vexatious one in view of the fact that your Company is
the owner of a majority of the capital stock of that Com¬
pany, and also the endorser of $2,000,000 of its bonds.
Every effort is being made to work out a satisfactory solution.
No real estate of any importance was acquired during the
year except that needed for extending the third and fourth
track system, the enlargement of yards and changes in
alignment, in which cases the real estate so acquired has
[VOL.
LXXXXI
been added to the Road and Equipment Account.
The
Company recently acquired possession, under a long-term
lease from the City of New York, of Pier 34, North River,
at the foot of Canal Street.
This pier is advantageously
located in the center of a district which both originates and
receives a large
The property
volume of traffic.
of the Glen Summit Hotel & Land Com¬
pany, which passed through foreclosure proceedings as
stated in the last annual report, has been sold.
Other than
a
mortgage taken in partial payment, your Company now
has no interest in this or any other hotel property.
The matter of encouraging and developing the local freight
and passenger business is one that has received active atten¬
tion and much has been accomplished in this direction by
the Industrial Department.
The scope of that Department
has been considerably broadened and an agricultural expert
of reputation has been engaged by the Company, whose
it is to explain in a practical manner to all interested along
the line of the road methods that will produce an increase
in the yield of farm products.
During the year seventy-four
new industries were located on the line of the road, direct
track connections being made with twenty-four of them.
56.90 per cent of the total operating expenses, including
outside operations, or $13,863,851 03, was paid direct to
duty
labor, being distributed
ployees during the year.
of 22,469 em¬
among an average
The contributions made by the Company to its employees’
Relief Fund for the year amounted to $43,644 33.
This
Fund was established over thirty years ago for the benefit
of
injured employees and their families, membership in the
being open to all employees in the service. The Com¬
pany contributes an amount equal to that paid by the mem¬
bers and assumes the cost of handling and disbursing the
Fund.
Payments are under the control of the Company,
and are made with the approval of a Relief Fund Committee
composed of employees.
Messrs. William H. Moore, Daniel G. Reid and Edward S.
Moore were elected Directors of the Company, succeeding
Messrs. Robert C. Lippincott, George H. McFadden and
Irving A. Stearns, whose term of office expired.
By order of the Board of Directors,
E. B. THOMAS, President/
same
[Lehigh Valley Coal Co. report will be found on a previous
under “Annual Reports.”]
page
CONDENSED GENERAL BALANCE SHEET JUNE 30 1910.
Dr.
'
$54,365,714 13
9,964,224 71
Less
$64,329,938 84
2,886,720 50
reserve
for accrued depreciation
Capital Stock:
Equipment trust obligations
Mortgages on real estate
Cash
Securities
or
assumed—held
In
treasury
Marketable securities
companies
$48,876 56
2,972,504
139,611
394,127
272,914
08
66
50
16
74,680
1,204,501
2,671,963
1,895,916
162,427
3,828,033 96
Accrued Liabilities Not Due:
Unmatured Interest, dividends and rents
$1,201,989 03
unpaid
489,676 74
Taxes accrued
1,691,665 77
k
6,070,250 00
330,000 00
Traffic and car-service balances due from
other companies
Net balance due from agents and conduc’rs
Miscellaneous accounts receivable
Materials and supplies.
Other working assets.
Accrued Income Not Due:
86,575,947 23
Traffic and car-service balances due to other
Audited vouchers and wages unpaid
Miscellaneous accounts payable
Matured Interest, dividends and rents unpaid
Other working liabilities
$10,916,912 22
Issued
6,820,000 00
116,947 23
Working Llabllltes:
494,435 99
Securities—pledged
Securities—unpledged
Working Assets:
16,000,000 00
Collateral trust bonds
$50,724 64
1,779,060 94
32,950,855 93
6,470,246 03-41,745,323 53
$63,639,000 00
Mortgage bonds
proprietary, affiliated and con¬
companies
for
construction,
equipment and betterments
$40,441,100 00
Funded Debt:
Advances to
Real estate
Advances to subsidiary real estate cos
$40,334,800 00
106,300 00
806,696 shares common stock, par $50
2,126 shares preferred stock, par $50
$61,443,218 34
Securities:
Securities of proprietary, affiliated and
controlled companies—pledged.
-.$29,310,622 93
Securities of proprietary, affiliated and con¬
trolled companies—unpledged
4,032,122 36-33,342,745 29
Other Investments:
trolled
Cr.
LIABILITIES.
ASSETS.
and Equipment:
Investment to June 30 1907
Investment since June 30 1907
R°ad
35
64
78
70
38-23,326,652 07
Deferred Credit Items:
Other deferred credit items
Profit and Loss
1,171,722 99
27,219,779 64
—
Unmatured Interest, dividends and rents
receivable.
Deferred Debit Items:
Advances
Rents and insurance paid in advance
Other deferred debit items
8,276 66
$476,618 15
157,034 77
428,380 78—1,062,033 70
Total Assets.
$160,928,249 59
Total
Note.—The dividends declared prior to the close of the fiscal year, and payable
bility in the above statement.
COMPARATIVE
INCOME
ACCOUNT
FOR
Increase
Revenue from Operation:
1910.
Coal freight revenue
$15,821,797
Merchandise fr’t revenue 14,757,799
Passenger revenue
4,330,172
Mall revenue
193,859
Express revenue
462,437
Other transports rev
356,165
Miscellaneous revenue._
245,166
^
1909.
62 $14,831,670
13,291,830
3,905,062
209,899
34
45
75
70
22
09
78
90
74
01
406.225 72
307,725 75
185,417 31
(+)
THE
$160,928,249 59
Liabilities
July 14 1910, amounting to $1,215,359, are not Included as a lia¬
ENDED JUNE 30 1910 AND 1909.
YEARS
Other Income:
Outside operations:
Water lines
Other operations
Investments:
Dividends on stocks.
Interest on bonds
Int. on
1910.
.
+$3,029,565 96
1909.
*$143,800 93
*$150,019 20
*2,532 31
*3,268 83
544,945 50
24,860 17
15,933 33
678,229 34
_
real est. mort.
Miscellaneous
Total operating revs..$36,167,398 17 $33,137,832 21
Increase (+) or
Decrease (—).
or
Decrease (—).
+ $990,126 84
+ 1,465,968 44
+425,109 71
•—16,039 26
+ 56,211 98
+48,439 47
+ 59,748,78
$1,117,635 10
436,772
42,814
15,604
362,677
56
48
13
20
+ $6,218 27
+ 736 52
+ 108.172 94
—17,954 31
+329 20
+ 315,552 14
$704,580 34
+ $413,054 76
$14,494,124 15 $12,187,300 02
+ $2,306,824 13
.
Operating Expenses:
Maintenance of way and
$3,462,903 41
5,995,810 09
918,720 11
Transportation expenses 10,593,565 10
General expenses
713,148 52
$3,273,339 47
5,832,430 15
810,293 00
9,949,909 59
709,764 09
+ $189,563
+ 163,379
+ 108,427
+ 643.655
+ 3,384
94
94
11
51
43
Total operating exp..$21,684,147 23 $20,575,736 30
+$1,108,410 93
Ratio of operating exp.
to operating revenues.
62.09%
59.95 %
Net Operating Revenue
$14,483,250 94 $12,562,095 91
1,079,376 23
Taxes,.
1,106,761 89
+ $1,921,155 03
+ 27,385 66
‘
Interest on funded debt- $3,609,393 34
interest on equipment
190,716 00
trust obligations
Rentals
of leased
lines
2,316,473 00
240,140 98
843,877 30
Miscellaneous deductionsl
Additions and betterm’tsl
Total deductions froml
—2.14%
Operating Income$13,376,489 05 $11,482,719 68 +$1,893,769 37
Deductions from Income:
Income
et Income
•
Deficit.
...
v—
$3,544,060 00
+$65,333 34
245,902 50
—55,186 50
2,316,473 00
237,061 31
582,643 22
+ 3,079 67
+ 261,234 08
.
structures
Maintenance of equlpm't
Traffic expenses.
$7,200,600 62
$6,926,140 03
+$274,460 59
$7,293,523 53
$5,261,159 99
+ $2,032,363 54
Aug. 13
THE CHRONICLE
1910.]
407
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED
Dr.
Cr.
5%
$5,315 00
806,696 00
403,348 00
5,315 00
Jan. 81910-..-
3%
on common
Jan. 8 1910
stock, paid
...
Brought forward.
Dr.
Cr.
$2,430,718 00 $19,212,252 00
Book value of securities of Buffalo Thousand
Islands & Portland RR. Co., written off..
334,884 92
Property abandoned at Delano, Pa..
49,809 38
Expenditures for Additions and Better¬
ments during fiscal years 1908, 1909 and
1910, transferred to Road and Equip¬
ment and to Advances to Subsidiary Cos-_
Miscellaneous adjustments
Net Income for year ended June 30 1910.
Balance, June 30 1910
27,219,779 64
Dividends:
on preferred stock, paid
July 10 1909
2% on common stock, paid
July 10 1909_
Extra 1% on common stock,
paid July 10 1909
5% on preferred stock, paid
■
$19,212,252 00
Balance, July 1 1909
JUNE 30 1910.
3,440,777 96
88,638 45
7,293,523 53
$30,035,191 94 $30,035,191 94
1,210,044 00
$2,430,718 00
Balance
brought forward July 1 1910.
--$27,219,779 64
STATEMENT OF EQUIPMENT TRUST CERTIFICATES OUTSTANDING.
Lehigh Valley Railroad Co.
Interest.
Principal.
Date of
Maturity.
Rate.
Equipment Trust, Series J, certificates
$3,750,000
Total, June 30 1910
$250,000 semi-annually to Sept. 1 1917
Due.
Mch. &
4H% gold
Sept.
$3,750,000
STATEMENT OF EQUIPMENT TRUST CERTIFICATES HELD IN TREASURY.
Equipment Trust, Series H, certificates
Equipment Trust, Series I, certificates
$270,000
2,800,000
.
Total, June 30 1910
$90,000 annually to February 1 1913
$400,000 annually to September 1 1916
Fe
& Aug.
Mch. & Sept.
4% gold
4% gold
.
$3,070,000
SUMMARY OF EQUIPMENT TRUST OBLIGATIONS.
Equipment Trust Certificates Outstanding
Equipment Trust Certificates Held In Treasury
Total
$3,750,000 00
3,070,000 00
June 30 1910
$6,820,000 00
Southern California Edison Co., Los Angeles.—New Sub¬
sidiary.—See Long Beach Consolidated Gas Co. above.—
V. 90, p. 1366.
Southern Iron & Steel Co.—Change in Officers.—An in¬
specting committee of the New York and London bondhold¬
ers have announced the following changes, effective Sept. 1:
President W. H. Hasslnger, having completed all the extensions and Im¬
provements contemplated under the reorganization plan, and having organ¬
ized the company with a competent set of operators, will at his own request
be allowed to retire.
The election of a successor will be held In a few weeks.
James Bowron of Birmingham, Ala., will be Vice-President and Treasurer,
succeeding W. W. Miller as Vlce-Pres. and A. R. Forsyth,
now
Treasurer,
will be Secretary of the company.
Mr. Bowron was for years Vice-Pres,
and Treasurer of the Tennessee Coal, Iron & RR. Co., and Is a cost-sheet
expert.
[F. B. Kelser remains as a Vlce-Pres. and D. G. Bolssevaln Is still
Asst. Sec.-Treas.—Ed.]
Official Statement as to Improvements, Extensions and Finances.
In the past year the company has spent upwards of $2,500,000 In Im¬
provements and extensions.
We have now practically reached the unit
of production contemplated by our original plan, and have actually brought
Into successful operation the first wire-finishing product mills In the South
—mills second to none.
Sales of wire fence, barbed wire, nails, &c., are quite up to our expecta¬
tion.
Collections are slow, but this Is not unexpected.
On July 1, after
the completion of the new work, the balance sheet showed free net cash
and quick assets of $1,866,020, against which there was but $947,151 of
unsecured current liabilities.—V. 90, p. 774.
Union Light & Water Go. (Reno, Nev.)—Dissolution.—
The shareholders of this holding company, mentioned last
week under Sierra Pacific Electric Co. (p. 341), held a special
meeting on July'6 to vote on dissolving the corporation.—
V. 81, p.1855.
United Service Co., Scranton, Pa.—New Holding Company.
—This holding company was incorporated by Brooks & Co.,
of Scranton, Pa., in Delaware on June 25 1910 with $2,500000 of authorized capital stock in $50 shares, consisting of
$1,000,000 pref. and $1,500,000 common; amounts to be
issued now $183,000 pref. and $375,000 common.
No new
bonds.
Underlying bonds in hands of public, $127,000.
Officers: Thos. R. Brooks, Pres.; Vlce-Pres., L. H. Conklin, recently
Mgr. of Scranton Electric Co.; Sec. & Treas., G. G. Brooks. The directors
include Thomas R. Brooks, A. H. Storrs, C. F. Conn, F. J. Platt, George
G. Brooks (Sec. & Treas.), F. L. Smith, M. J. Murphy and W. N. Pyle.
The following properties are among those already operated or financed by
the United Service Co.; The Tuscarawas County Electric Light & Power
Co., serving New Philadelphia and Canal Dover, Ohio; the New Philadelphia
Heating Co., United Electric Co., serving Dennison, O.; and Urlchsville
St. Ry. Co., a street railway connecting these towns.
Office, Traders
Bank Bldg., Scranton.
United States Glass Co.,
Pittsburgh, Pa.—Report.—The
report for the year ending June 30 1910 shows:
Gross profits, $141,238: less extraordinary expenditures for Improvements,
replacements, &c., $28,183; net gain, $113,055.—V. 91, p. 219. „
United States Steel Corporation.—Unfilled
&c.—The first monthly official statement
Orders, Prices,
,given out on
Wednesday reported “unfilled orders on hand July 30 1910,
3,970,931 tons”, contrasting with 4,257,794 tons June 30,
a falling off in the month of
286,863 tons. The “Iron Age”
of New York, on August 11, said:
The falling off In the second quarter (ended June 30 1910—see V. 91,
p. 271) was 1,144,720 tons, or an average of 381,570 tons a month.
It Is
to be considered that production has been reduced In
July, and therefore
the July 30 statement of unfilled orders does not
permit any exact deduc¬
tion as to the Inflow of new business last month as
compared with the three
preceding months.
It Is well known, however, that July showed some
decrease both In new orders and In shipments from the average for June.
The policy of the railroads Is to buy for
early needs.
A few conspicuous
exceptions come up, including the definite Inquiry for 3,000 cars for the
Chicago & Alton and the statement that the New York Central Lines will
place orders for 265 locomotives.
Much has been published In the past week of an alleged
cut of $1 50 In
the price of steel rails.
It can be said on authority that no reduction from
the $28 basis for standard rails has been
made, nor Is any change contem¬
Some statements have Intimated that the cut was made on Mexi¬
plated.
can business.
It Is a fact that a large Mexican order Is pending,
and It Is
also well known that the $28 price has not been maintained on
export trade.
The vote of the Amalgamated Association on the proposal to call off the
strike in American Sheet <5b Tin Plate Co. mills showed 63.2% adverse.
Had the strike been ended the Martins Ferry and La Belle tin plate plants
would have started and the Aetna Standard sheet mill.
On tin plates the
company Is sold Into February at Its present rate of output and is three
months behind In deliveries.—V. 91, p. 280, 271, 219.
Utah Copper
June 30 1910:
Net
Co.—Earnings.—For the quarter ending
profits from operation.$1,184,199 Total
Income from rents, &c
Income from Nev. Cons.div
net profits
8,352 Dividends paid
356,428
$1,548,979
1,155,244
Total net profits
$1,548,979
Surplus for quarter
$393,735
The average cost per pound of net copper produced after deduction of
smelter allowances was 7.53 cents: average price of copper, 12 H cents,
against 13.33 cents for the quarter ending March 31 1910.
Compare
V. 91, p. 280.
Wilmington (Del.) Gas Co.—Earnings, &c.—The
reports to the Philadelphia Stock Exchange:
pany
-Years
1908.
Gross earnings
Net earnings (after taxes)
Bond Interest
end.Nov.^0-
.-.$289,677
145,461
1909.
$300,389
168,403
Surplus.
7 Mos.end.
June30’10
$190,133
106,772
59,372
$47,400
Assets ($6,497,641)
Plant account, &c_
Cash.
Accounts receivable..
Store
com¬
room
Furniture
Tools
Horses and wagons..
....
Unexplred Insurance.
—V. 91, p. 342.
Balance Sheet July 11 1910.
Liabilities ($6,497,641)$6,303,564 Preferred stock
$1,100,000
69,796 Common stock
71,012 Bonds
3,000,000
2,180,000
40,240 Accts. and bills payable,.
117,483
2,982 Accrued Interest and taxes
39,502
Reserves
2,416
10,144
7,093 Due consumers
2.101
536 Surplus
48,411
-----
—H. H. Randolph & Co., a new bond house, with offices
the 10th floor of the Corn Exchange National Bank
on
Building, Chicago, have sent
us a
sumptuous booklet
en¬
titled “True Blue and Good as Gold”, which recites in detail
the affairs of the Springfield & Jacksonville Electric Ry. Co.
for the benefit of investors in the six per cent bonds of this
line,
under
construction.
Eight hundred thousand
bonds constitute the present
issue, dated April 11910 and due in 1920. The facts concern¬
ing this issue, so far as we know them, are set forth else¬
now
dollars
first mortgage gold
where in this publication to-day.
—A new Chicago bond firm has commenced business at
1136 First National Bank Bldg., viz., Beierlein & Reynolds,
who announce that they will deal in municipal, drainage and
corporation investment bonds.
Both partners have had
C. Beierlein having been
O’Connor & Kahler and
the Trowbridge & Niver Co., and Chas. O. Reynolds for fen
years past with Trowbridge & Niver Co. as Cashier and sales¬
valuable experience in this line, L.
a salesman for several
years with
man
—The 1910 edition of “American Street
Railway Invest¬
ments,” which has just been published by the McGraw Pub¬
lishing Co. of New York, is a handsome volume of nearly
500 pages, covering all the street railways of the United
States and its dependencies; also Canada.
Numerous prop¬
erties that are too diminutive to engage the attention of
solely financial publications are here treated, like those of
larger size, in an attractive manner.
—Woodin, McNear & Moore, one of the most enterprising
bond-houses in Chicago, finding their present quarters in the
Commercial National Bank Building too cramped (and being
unable to secure additional space on either side) have leased
more commodious and convenient suite of corner offices
in the American Trust Building, at the Northeast corner of
Clark and Monroe Streets.
—The bond house of Nye & Turner Co., Omaha, Neb.,
will shortly move into handsome new offices in the Board of
a
Trade
Building, 16th and Farnam streets. This firm is
incorporated, and has a capital (fully paid) of $100,000;
it deals in strictly high-grade railroad, municipal and cor¬
poration bonds.
408
THE CHRONICLE
[Vot*.
%\u ComnxjerciaX
COTTON.
COMMERCIAL EPITOME.
Friday Night, Aug. 12 1910.
The Government report on the 8th inst. indicated a boun¬
tiful yield of winter wheat, and the outlook for other
crops
is on the whole more favorable than
recently, but there is
still a manifest disposition in
many branches of industry to
adhere to a conservative policy.
Railroad gross earnings
continue large. Some descriptions of cotton goods have met
with an increased demand at firmer quotations.
LARD on the spot has been quiet and irregular.
Prime
Western has been easier at 12@12.10c. and other grades
firmer, with Middle Western 11.80@11.90c. and City steam
ll^c. Refined lard has been firm, with trade quiet. Re¬
fined Continent 12.30c., South America 13.25c. and Brazil in
kegs 14.25c. The speculation in lard futures here has been
extremely dull. At the West the market has been active and
irregular. Packers, including some large interests, have
sold rather freely at times, but of late the market has been
influenced by strength in corn, some improvement in the cash
trade at Western points and investment buying.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Sat.
Mon.
Fri.
Tues.
Wed.
Thurs.
September delivery
11.80
11.65
11.65
11.70
11.80
12.00
December delivery
10.95
11.00
11.00
11.05
11.00
11.15
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
September delivery
11.47 'A 11.45
11.55
11.70
11.75
11.45
November delivery
11.12 H 11.07 H 11.10
11.20
11.37H
PORK
the
spot has been quiet and easier, though with¬
out marked change; mess $24
50@$25, clear $23 50@$24
and family $25 50@$26.
Beef has been quiet but firm in
the main, owing to small
supplies. Mess $15@$16, packet
$16 50@$17, family $19 and extra India mess $30. Cut
meats have been irregular, but without marked
change in
on
quotations; supplies moderate; pickled hams, regular, ll\i@
17^c.; pickled bellies, clear, 16^@17c., and pickled ribs
17J^2@18c. Tallow has been firmer and more active. City
7^c. Stearines have been fairly active and firm; oleo ll^
@12c. and lard 13 ^c. Butter has been firmer and more
active; supplies of best grades small; creamery extras 2834
@28%c. Cheese has been quiet but firmer; State, whole
milk, colored or white, fancy, 14Eggs have been quiet
but firmer; receipts smaller; Western firsts 18 3^@19H>c.
OIL.—Linseed has been strong for jobbing requirements,
but it is reported that some large orders have been
accepted
at prices somewhat lower than published
quotations. City,
raw, American seed, 90@91c.; boiled, 91@92c.; Calcutta,
Cottonseed has been in good demand and stronger;
raw, 95c.
winter 10.05@14c.; summer white 10.02@11.50c.
Lard
has been firm and more active, though
pressers are not in¬
clined to book ahead extensively; prime $1@$1 04;
No. 1
extra, 61@63c. Cocoanut quiet and firm;Cochin 10^c. and
Ceylon 9^c. Olive quiet and firm at 75 @80c. Cod in good
demand and firm; domestic40@42c.;Newfoundland43@45c.
COFFEE on the spot has been quiet but firmer.
Rio
No. 7, 9@93^c., and Santos No. 4, 9^g@9^c. West India
growths have been quiet and steady. Fair to good Cucuta
10@10^c. The speculation in future contracts has been
moderately active with the general trend of the market
downward, owing mainly to weakness in the European
markets and selling here for
European account. Also, there
has been scattered local liquidation.
Spot interests have
been the principal buyers.
Crop news from Brazil has been
favorable.
An increase in the receipts in the near future
is expected by some.
Closing prices were as follows:
August
7.05c. November _7.20c. February __7.39c. May
September 7.05c. December _7.30c. March
7.43c. June
October
7.15c. January
7.35c. April
7.46c. July
7.48c.
7.50c.
7.52c.
SUGAR.—Raw has been firmer, with an increased de¬
from refiners; centrifugal, 96-degrees test,
4.39c.;
mand
muscovado, 89-degrees test, 3.89c.; molasses, 89-degrees
test, 3.64c.
Refined has been firm; there have been fair
withdrawals on old contracts, but new business has been
quiet; granulated 5.15c. Teas quiet and firm. Spices firm
with
moderate trade.
Wool less active but firm.
Hops
quiet and steady; crop news more favorable than recently.
PETROLEUM.—Refined has been steady with domestic
trade quiet and export business of moderate
proportions
barrels 7.65c., bulk 4.15c. and cases 10.05c.
Gasoline has
been firm and in good demand; 86
degrees in
a
100-gallon
18%c.; drums $8 50 extra. Naphtha has been fairly
active and steady;
73@76 degrees in 100-gallon drums
16^c.; drums $8 50 extra. Spirits of turpentine has been
quiet and firmer at 723^@73c. Rosin has been dull and
easier; common to good strained $5 50.
drums
TOBACCO.—Prices
for
domestic leaf have ruled firm
despite continued dulness of trade. Stocks of leaf are
generally moderate or small. Cigar manufacturers in many
continue to
report trade sluggish, but there is a hopeful
feeling regarding the future. Sumatra has been firm and
more active.
Havana has been quiet and firm.
COPPER has been quieter and easier of late; lake 12
^@
12%c.; electrolytic 123^c. and casting 1234@12%c. Lead
has been quiet and steady at 4.40@4.50c.
Spelter has been
dull and easy at 5.10@5.40c.
Tin moderately active; spot
33.30@33.35c. Iron steady; No. 1 Northern $16@$16 50;
No. 2 Southern $15 25@$15 50; trade quiet and limited
to small lots.
Structural material less active.
Reports of
a cut in steel rails have been
denied; standard rails $28.
cases
i.xxxxx.
Friday Night, Aug. 12 1910.
THE MOVEMENT OF THE CROP as indicated
by our
telegrams from the South to-night is given below. For the
week
ending this evening the total receipts have reached
bales, against 6,491 bales last week and 20,730
bales the previous week,
making the total receipts since
Sept. 1 1909 7,264,956 bales, against 9,807,432 bales
for the same period of
1908-09, showing a decrease since
Sept. 1 1909 of 2,542,476 bales.
11,301
Receipts at—
Sat.
Galveston
Mon.
541
Port Arthur
312
856
Fri.
Thurs.
Wed.
Tues.
157
2,177
Corp. Christl, &c
New Orleans.
5,812
_
377
_
210
Gulfport
Mobile
Pensacola
Total.
1,769
71
447
13
3
87
75
1,267
300
3l6
...
—
-
—
—
Jacksonville, &c.
Savannah
Brunswick
Charleston
10
55
423
231
458
449
1,626
■
_
_
_
13
10
_
Georgetown
Wilmington
Norfolk
4
12
2
49
7
5
10
2
„
140
Newp’t News,&c
New York
Boston
Baltimore
Philadelphia
—
942
^
ioo
100
553
713
36
54
117
36
ioo
—
Totals this week.
1,260
1,237
__
500
----
—
2,875
1,287
1,178
—
—
4,519
11,301
The following shows the week’s total receipts, the
since Sept. 1 1909, and the stocks
to-night, compared
last year:
1909-10
1908-09.
Stock.
Receipts to
Aug. 12.
This
Week.
Galveston
Port Arthur..
5,812 2,478,347
142,381
72,100
1,267 1,306,160
8,892
316
254,483
138,104
39,680
1,626 1,353,853
229,426
1,260
225,382
1,576
ioo 312,611
._
CorpusChristl, dec.
New Orleans
Gulfport
Since Sep
1 1909.
_
Mobile
Pensacola.
Jacksonville, &c_
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
713
542,902
54
117
36
18,789
41,927
14,413
81,349
2,581
Newp’t News, &c.
New York
Boston
Baltimore.
__
_.
Philadelphia
—
Total
11,301 7,264,956
This
Week.
total
with
Since Sep
1 1908,
1910.
2,065 3,612,521
152,759
157,936
3,120 2,083,891
20,221
1,964
389,810
166,035
228
30,868
821 1,494,777
320,114
12
209,768
2,649
20
409,238
2,438
592,347
18,175
1
1909.
7,351
11,518
30,825
55,286
728
7,912
6,793
2,478
ib,io3
690
2,241
211
168
145
1,436
6,352
50
19;i51
308
25
19,075
101,091
7,006
181,630
2,204
1,408
1,654
105,528
3,457
2,040
11,051 9,807,432
237,365
205,701
908
In
we
opder that comparison may be made with other years,
give below the totals at leading ports for six seasons:
1910.
Receipts at—
Galveston
Pt. Arthur, &c.
New Orleans.
5,812
—
Mobile
Savannah
Brunswick
1909.
1908.
2,065
1907.
17,983
1906.
3,844
1905.
21,001
16,863
48
1,267
—
3,120
1,964
1,849
946
316
1,976
364
847
821
1,205
1,124
1,661
459
1,626
7,272
4,899
11,753
_
__
Charleston, &c
1,260
100
713
12
20
Ii§
Wilmington..
2,483
All others....
207
611
Total this wk_
11,301
11,051
Norfolk
47
749
659
1,800
295
111
573
2,055
3,708
717
209
367
868
5,945
24,039
8,763
31,276
50,218
2
1,321
N’port N., &c
57
Since Sept. 1. 7,264,956 9,807,432 8,266,041 9,689,351 7,784,468 9,962,440
The
exports for the week ending this evening reach a total
43,066 bales, of which 8,183 were to Great Britain,
14,115 to France and 20,768 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1909:
of
Week ending Aug. 12 1910.
Exported to—
From Sept. 1 1909 to Aug. 12 1910.
Exported to—
Exports
Great
ContiBritain. Ft'nee nent.
from—
I
Total.
951
951
6,337
10,472
Port Arthur...
Corp.Chris.,&c.
Orleans-_j
New
Mobile
Pensacola
-
1,004
3,131
'
.
Gulfport
_
...
496
Savannah
Brunswick
Charleston
Wilmington...
Norfolk
New York
Boston
Baltimore
496
_
....
7,170 10,984 12’, 874
31,037
110
110
_
Philadelphia
Portland, Me..
.
ContiFrance.
715,532 377,722
25,883 18,398
_
.
577,308
39,348
48,950
7,818
240,311
87,045
16,901
100,690
4,863
960,213 2,053,467
98,100
142,381
17,428
17,428
414,878 1,186,403
41,092
155,041
144,079
40,455
1,074
8,892
447,795
772,097
99,041
191,582
101,095
117,996
182,205 298,595
1,756
6,619
194,2 i 7
74,601
54,674
83,991
5,496
15,700
349,89i 95,i95
98,169
18,563
45,581
198', 77 i
11,516
31,054
17,247
7,896
427
San Francisco.
Seattle
Tacoma
•
.
_
Total
Total.. 1908-09
JLJLI
643,857
109,685
51,513
62,828
427
59,987
59,978
29,040
4,604
29,040
4,604
200
600
200
600
Portland, Ore.
Pembina
Detroit..
Total.
nent.
.
-.
Newport News
Great
Britain.
—
8,183 14,115 20,768 43,066 2,377,280 927,890 2,758,142 6,063,312
4,287
ctUUH/lvLi
tv
....
uivvx v
7,241
11,5283,538,478 1047847 3,796,685 8,383,010
v/vjs/vi
,vua
tvivgi utJLUo
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
.
I
Aug. 13 1910.1
THE CHRONICLE
Shipboard, Not Cleared for—
On
Aug. 12 at—
Great
Britain. France
New Orleans.
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports
Ger¬
many.
Other
Foreign
2,669
1,000
_
166
700
—
„
-
-
-
_
_
100
—
1,700
6,077
5,557
3,252
6,601
4,659
Total.
52
2,721
1,257
3,057
—
-
_
1,000
3,000
Total 1910..
Total 1909.^
Total 1908..
^
Leaving
-
_
300
300
1,252
6,800
700
2,100
—
—
4,369
5,489
8,459
2,200
2,922
10,582
2,709
8,032
4,399
£
00 P
5"*5
°
690
428
184
14,230
29,121
33,656
proved since the publication of the last Government report
on Aug. 2.
The first ginning report, of the season, issued
by the Texas State Department of Agriculture,shows2,569
bales to have been ginned in July, against
1,036 bales in July
last year.
Spot markets at the South have been quiet. The
spot sales in Liverpool have been small as a rule. Local spot
interests have sold August freely against cotton
coming here
for delivery on contracts.
There has been heavy liquida¬
tion in the general list at times, and also more or less short
selling. To-day the market was irregular within a narrow
range.
At one time prices were lower on dulness and depres¬
sion in Liverpool, favorable crop
reports from the Eastern
belt, selling by spot interests and liquidation. Later a rally
occurred on dry weather in
Texas, where maximum tempera¬
tures of 100 to 107 degrees were
reported at 14 stations, bull¬
ish crop reports from that
State, bull support, Continent and
commission-house buying and covering of shorts.
Spot
cotton here has been in
good demand. Middling uplands
closed at 15.70c., an advance for the week of 10
points.
The rates on and off
middling, as established Nov. 17 1909
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fftf r
—r.......c. 1.50 on (Middling
Strict mid. fair
1.30 on (Strict low. mid
Middling fair
1.10 on (Low middling
Strict good mid
0.66 on(Str!ct good ord
Good middling
0.44on( Good ordinary
Strict middling
0.22 on (Strict g’d mid.
Even
off
off
off
off
(Middling stained...0.75 off
0.25 off (Strict mid. tinged. .0.15
0.60 off (Middling tinged. .0.25
1.05- off (Strict low. Mld.tlng 0.60
1.75 off (Low mid. tinged... 1.50
tgd.0.35
on
quotation for middling upland cotton in the
day for the past week has been:
t0fU°A
12~
Sat.
Mon- Tues. Wed. Thurs. Fri.
uplands
..15.90
16.05
quotations
Aug. 12 for each of
on
16.00
15.95
1906
1905
1904
1903
...10.60
...10.65
...10.55
...12.75
1898
1897
1896
1895
.
9.00
8.00
.10.12
6.50
6.06
8.00
8.00
7.56
.
-
.
.
.
.
1894.C..
1893
1892
1891
1890
1889
1888
1887
...
as
7.69
7.25
8.06
...12.25
...11.31
...11.31
9.75
...
...
...
on
Futures
Ma ket
Closed.
_
9.44
.
Monday
Tuesday
Quiet, 30 pts. adv__ Steady
Quiet, 15 pts. adv__ Firm
Quiet, 5 pts. dec
Firm
._
Wednesday Quiet, 5 pts. dec. Steady
Thursday Quiet 25 pts. dec... Barely steady
Friday
Quiet _■
Barely steady
_
_
Total...
1
Con-
Cont act.
Total.
8,016
2,778
13,144
1,000
3,000
"800 1,425
2,200 10,216
26,763
4,800 31.563
2,778
11,344
1,000
3,000
625
T.800
......
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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 Thurs¬
day evening. But to make the total the complete fig¬
ures for to-night
(Friday), we add the item of exports
from the United States, including in it the exports of Friday
only.
August 12—
Stock at Liverpool
Stock at I^ondon
Stock at Manchester
1910.
bales.
,
Stock at Hamburg.
Stock at Bremen._
Stock
Stock
Stock
Stock
at
at
at
at
Marseilles
Barcelona
Genoa
Trieste
.
Total Continental stocks
.
Total European stocks
India cotton afloat for Europe—
Amer. cotton afloat for Europe.
_
Egypt, Brazil, &c.,aflt.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
Of the above,
American—
1909.
911,000
9,000
60,000
1908.
421,000
15,000
51,000
1907.
854,000
22,000
65,000
430,000
12,000
84,000
88,000
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
941,000
18,000
173,000
142,000
3,000
19,000
21,000
40,00.0
224,000
428,000
399,000
416,000
654,000 1,408,000
77.000
68,000
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 1,357,000
63,000
108,000
83,503
27,609
22,000
20,000
31,000
70,000
436,000
609,000
185,343
297,590
119,189
83,695
261
1,314
.1,661,993 2,167,853 1,863.296 2,537,208
other descriptions are as follows:
.bales.
Liverpool stock.
stocks.
294,000
25,000
168,000
64,587
237,365
55,910
to-day.
3,131
American afloat for
U. S. Interior
U. S. exports
390,000
8,000
32,000
total's of American and
Manchester stock.
Europe.
Indian, Brazil, &c.—
818,000
45,000
390,000
71,142
205.701
84,535
2,475
727,000
310,000
40,000
818,000
83,503
185,343
119,189
53,000
318.000
27,609
297,590
83,695
1,314
261
847,993 1,616,853 1,056,296 1,508,208
96,000
London stock
Manchester stock.
Continental stock.
8,000
7,000
56,000
77,000
17,000
44,000
509,000
93,000
9,000
15,000
38,000
68,000
26,000
63,000
239,000
127,000
22,000
12,000
98,000
108,000
22,000
31,000
609,000
111,000
15,000
11,000
81,000
63,000
20,000
70,000
436,000
814,000
551,000
807,000 1,029,000
847,993 1,616,853 1,056,296 1,508,208
Total visible supply.
1,661,993 2,167,853 1,863,296 2,537,208
Middling Upland,
7.29d.
6.72d.
5.92d.
Liverpool
8.31d.
‘.Liverpool
Middling Upland, New York
15.70c.
13.25c.
12.80c.
10.60c.
13 Hd. 9 13-16d.
Egypt, Good Brown, Liverpool..
5-16d.
11
8Hd.
Peruvian, Rough Good, Liverpool
ll.OOd.
11.75d.
8.35d.
9.00d.
Broach, Fine, Liverpool
5 5-16d.
6Md.
7X&.
6tfd.
7 3-16d. 5 15-16d.
Tlnnevelly, Good, Liverpool
5d.
5Kd.
x vvau
Sales of Spot and Cont act.
Closed.
Spot. sum’n.
Saturday.
w
.10.50
..10.88
.10.25
..13.00
.12.00
.11.56
..11.06
1885
1884
1883
1882
1881
1880
1879
MARKET
ST AND SAL]ES AT NEW YORK.
Spot Ma ket
69 69
1
•si Cl
East
follows:
6.94 1886.C
...
prices at
15.70
15.70
middling upland at New York
the past 32 years have been
1910.c......15.70 1902.C
1909
...12.80 1901
1908
--.10.50 1900
1907
-..13.30 1899.
M4
O
‘*1**1
NEW YORK QUOTATIONS FOR 32 YEARS.
The
1 1
69 69
H* Hk
H-k
1
.
New York market each
6
p
|
Basis [Good mid. tinged.c
c_
The official
Middling
I
its is.
1©
production of goods that has been going on for many weeks
past. Some take the ground that the improvement in the
crop in the region east of the Mississippi has not been as
general as many have supposed. A few reports of a very
spotted condition of the fields in that section have been
received of late.
The Continent has been a good
buyer of
futures here during the week.
New England and Southern
mill interests have bought the fall and winter
positions.
There has been active covering in the whole list.
Reactions
have occurred at times, however,
owing to reports of good
I”
HA H*
f"® p 1 ag I
1 p w p*
Range ne.—
Its 69
its
believe that the situation in the
banner-producing State is not really as serious as it is said to
be, but calamitous reports have been received in such large
numbers that they have caused not a little
buying by spinners
and also for investment.
Meantime evidences continue to
crop out of an improvement in the cotton goods trade in
some sections of the
country. In Manchester, too, yarns
and cloths have met with a better demand of
late, according
to the official reports of the Exchange.
Some contend that
the last crop was so short that it would now be
impossible
to secure cotton at any price but for the
heavy curtailment of
p* *
®
0*
p
|
Its
bo
Some
1
69
QW
g
Its Its
H4
during the -week has been the situation in Texas, where
droughty conditions still prevail over the southern and
|
H4
*
its its
69
months.
These have advanced and some net improvement
has also occurred in August.
The great topic and factor
rains in Northern Texas and unconfirmed rumors of a
pre¬
cipitation in other sections of the State. It is in the main a
weather market and it is particularly sensitive to the news
from Texas.
Beneficial rains have occurred in Oklahoma.
In the Mississippi Valley, the Atlantic and the Eastern Gulf
States the weather has as a rule been favorable and there is
a belief
among very many that the crop there has improved
materially during the past fortnight. It is contended in
some quarters that
fully 75% of the whole area has im¬
jo *3
£? ®
g
o
AVW ag &1 S
Cl
w
Speculation in cotton for future delivery has been mod¬
erately active, with interest centering largely in the new-crop
sections.
00
IO
w
69
central
1
1©
223,135
176,580
151,687
g
P 1
o
1
w
174,830
7,812
100
—
e
e
28,104
4,294
6,793
_
1,100
FUTURES.—The highest, lowest and closing
New York the past week have been as follows:
Stock.
-
-
152
Coast¬
wise.
409
vioioiv
Continental imports for the past week have been 39,000
bales.
;
The above figures for 1910 show a decrease from last week
of
134,683 bales,
a
loss
of
•
505,860
bales
1909,
875,215
from
decrease of 201,303 bales from 1908, and a loss of
bales from 1907.
a
THE CHRONICLE
410
AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and Since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
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OVERLAND
15
15 3*
Philadelphia
16.15
St. Louis
Houston
Little Rock
15 H
15
15
14 3*
14 3*
Augusta
Memphis
15
15 3*
15 3-16
15
15 3*
15 1-16
15
153*
153*
153*
15 3*
16
16.20
153*
153*
16
15.95
15.95
153*
153*
153*
153*
15 3*
153*
153*
14 3*
15
14
15 1-16
15 3*
15
15J*
153*
153*
15
15 3*
16.30
15 3*
153*
153*
15
15
14 3*
16
16.25
153*
15 3*
15 3*
15 3*
15 3*
15 3*
15 Vi
15 3*
14 5*
14
5*
NEW ORLEANS OPTION MARKET.—The
lowest and closing quotations for leading options in
August—
Range
Closing
September—
Range
Closing
16
3*
highest,
the New
Monday, Tuesday, Wed’day, Thursd'y, Friday.
Aug. 8. Aug. 9. Aug. 10. Aug. 11. Aug. 12.
14.72-.80 14.95-.24 15.07-.14 15.06-.14 15.05-.13 15.00-.02
14.74-.80 15.22 — 15.07-.10 15.07 — 15.08-.10 15.00-.01
@
—
13.90
—
—
14.05-.25 14.10-.18 14 10-.16 13.95-.12 13.90-.96
14.23-.25 14.13-.16 14.15-.16 13.96-.98 13.91-.93
October—
Range
Closing
13.30-.40 13.57-.70 13.43-.56 13.47-.65 13.40-.61 13.37-.47
13.39-.40 13.68-.69 13.55-.56 13.58-.59 13.43-.44 13.40-.41
November—
Range
Closing
@ —
@ — 13.46 —
@ —
@ —@ —
13.38-.39 13.68-.70 13.50-.53 13.50-.52 13.35-.38 13.34-.36
—
—
—
—
—
December—
Range
Closing
13.27-.36 13.54-.69 13.42-.55 13.47-.65 13.89-.60 13.37-.47
13.35-.36 13.68-.69 13.54-.55 13.57-.58 13.43-.44 13.42-.43
January—
Range
Closing
13.32-.41 13.62-.73 13.47-.62 13.56-.71 13.45-.64 13.44-.52
13.40-.41 13.74-.76 13.60-.61 13.64-.65 13.48-.49 13.47-.48
I
I
I
I
I
I
i
i
till
*
I
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i
* I
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i£2
1
fiSS
II Sr
Range
Closing
eg
>
^
o
Spot
Options
o
H ©
•
SK
SZSgg g
THE
Shipped—
_
2,320
_
433
Via Cincinnati.
.
AND
.
Deduct Shipments—
.
.
-
.
.
8,212 1,141,450
207
The results
years are as
2,728
146,791
153,167
1,463
157
681,133
305,751
163
112
30,693
85,765
50,415
395
213
188,005
277,740
3,768 1.619,502
383
1,497
140,270
66,899
80,694
"820
146,323
48.937
58,392
2,666
287.863
1,203
253,652
5,546
853,587
2,565 1,365,850
962
Including movement by rail to Canada.
foregoing shows the week’s net overland movement
5,546 bales, against 2,565 bales for the week
has been
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 512,263 bales.
-1909-10Since
In
Sight and Spinners'
Takings.
Week.
Receipts at ports to Aug. 12
11,301
Net overland to Aug. 12,
5,540
Southern consumption to Aug. 12 32,000
excess
Came into sight during week
Total in sight Aug. 12
40,470
North’n spinn’s takings to Aug. 12
x
1908-09Since
Sept. 1.
7,264,950
853,587
2.339,000
Week.
11,051
2,565
52,000
48,847 10,457,543
* 8,377
*27,253
■<
Decrease during week,
—
Sept. 1.
9,807.432
1,365,850
2,440,000J
65,616 13,613,282
*10,302
*29.471
55,314
10,430,295
13,583,811.
2,138,272
22,936
2,790,434
Less than Sept. 1.
Movement into sight in previous years:
Bales.
satisfactory conditions.
55,732
16
1906—Attg. 17
18
76,892 J225“25~4ue* 17
96,397 1904-05—Aug. 18
52,266
?22Z“2§~fu*-
16
Easy.
Steady.
Quiet.
Steady.
during the week.
11,366,113
13,396,434
11,059,760
13,452,798
QUOTATIONS FOR MIDDLING COTTON AT OTHER;
MARKETS.—Below are the closing quotations of middling!
cotton at Southern and other principal cotton markets for
each day of the week.
Picking is becoming general
Galveston, Texas.—Drought continues over much of the
Cotton is shedding and opening prematurely. Pick¬
ing is becoming general in Southern sections. There has
been no rain during the week.
The thermometer has ranged
from 80 to 88, averaging 84.
July rainfall 6.20 inches.
Abilene, Texas.—The week’s rainfall has been two hun¬
dredths of an inch, on one day Average thermometer 88,
State.
highest 102, lowest 74. July rainfall 0.30 inch.
Brenham, Texas.—The week’s rainfall has been one hun¬
dredth of an inch on one day. The thermometer has aver¬
aged 89, the highest being 102 and the lowest 75. July
rainfall 1.26 inches.
Cnero, Texas.—There has been rain on
one
day of the week,
the rainfall reaching one hundredth of an inch.
The ther¬
mometer has averaged 88, ranging from 73 to 103.
July
rainfall 0.62 inch.
Dallas, Texas.—There has been
.no
rain during the week.
104, averaging 89.
Thermometer has ranged from 73 to
July rainfall 0.43 inch.
Henrietta, Texas.—We have had rain on one day during
the week, the rainfall being twenty-two hundredths of an
inch.
Average thermometer 87, highest 101, lowest 72.
July rainfall 3.51 inches.
Huntsville, Texas.—It has been dry all the week. The
thermometer has averaged 86, the highest being 98 and the
lowest 74.
July rainfall 3.97 inches.
KerrviUe, Texas.—We have had no rain during the week,
The thermometer has averaged 86, ranging from 72 to 100.
July rainfall 0.35 inch.
Longview, Texas.—The week’s rainfall has been four hun¬
dredths of an inch on one day. Average thermometer 89,.
highest 105 and lowest 73. July rainfall 2.41 inches.
Luting, Texas.—We have had rain on one day the past week
the rainfall reaching five hundredths of an inch. The ther¬
mometer has averaged 87, the highest being 100 and the
lowest 73. July rainfall 1 inch.
Nacogdoches, Texas.—It has rained
on one
day during the
we0k, the precipitation reaching seventy hundredths of an
inch. The thermometer has averaged 84, ranging from 72
to 96.
July rainfall 2.04 inches.
San Antonio, Texas.—It has rained on one day of the week,
the precipitation reaching twelve hundredths of an inch.
TE6 them‘6meter has ranged from 74 to 100, averaging 87.
1.34 inches.
Weatherford, Texas.—We have had no rain during the
week. The thermometer has ranged from 74 to 100, aver¬
aging 87. July rainfall 1.67 inches.
Paris, Texas.—Rain has fallen on four days of the week,
the rainfall being two inches and fifty hundredths.
Average
thermometer 85, highest 101, lowest 69.
Ardmore, OklaKbma.^-'We have had rain on three days
during the week, the rainfall being two inches and thirtyJuly rainfall
Since Sept. 1—
1908—Aug. 15
Steady.
Steady.
Further beneficial rains are reported in many sections where
moisture was stated to be needed, but over much of Texas
it is claimed that drought continues.
Many of our corre¬
spondents note improvement in the crop as a result of the
-1908-09Since
Week.
Sept. 1.
455,858
184,136
19,915
132,912
48,671
Via Rock Island.
Steady.
Steady.
graphic reports from the South this evening indicate that
WEEK
1909—10
Since
Week.
Sept. 1.
Aug. 12—
Steady.
Steady.
in the main the weather has been favorable
more
FOR
—
WEATHER REPORTS BY TELEGRAPH.—Our tele¬
l|dSS:
Sg-^sid
from telegraphic reports Friday night.
Week—
Steady.
Steady.
in Southern Texas.
MOVEMENT
—
CO
go JO g
-
@ — 13.76-.80 13.76-.84 13.72-.89
@ —
@ —
13.58-.64 13.88-.90 13.78-80 13.82-.84 13.69-.71 13.67-.69
—
Tone—
!°
for the week and since Sept. 1 in the last two
follows:
Total marketed
Interior stocks in
13.42-.53 13.71-.85 13.69-.72 13.71-.82 13.58-.74 13.58-.66
13.53-.54 13.84-.85 13.71-.72 13.75-.76 13.61-.62 13.58-.60
May—
a statement showing
the overland movement for the week and since Sept. 1, as
153*
14 3*
15 3*
Wilmington
Range
Closing
I
SINCE SEPT. 1.—We give below
*
Monday. Tuesday. Wed,'day. Thursd'y. Friday.
15
3*
3*
J*
March—
I
The above totals show that the interior stocks have de¬
creased during the week 8,377 bales and are to-night 28,625
bales less than at the same period last year. The receipts
at all the towns have been 12,471 bales more than the same
week last year.
The
Sat'day.
14
14
14
15
I
t'.«t^TH®©a0rH©aO^©©©©OS©HiiTllrHt-©rt©©f»©«
b-©©©rH©©t^rH©©©©©CMTll©©rHT}i©©CM®CMTjirH«
^©WOt*
® ©CM Hji © t>.
rH © © © CM
©
©©©TTCMt'.rH
§
*
Mobile
Savannah
Charleston
LXXXXI
Closing Quotations Jot Middling Cotton on-
Sat’day,
Aug. 6.
s
made up
Galveston
New Orleans
Norfolk
Baltimore
OQgfc
CO® ®
Week ending
Aug. 12.
[VOL.
THE CHRONICLE
Aug. 131910.
three hundredths.
to
,
Holdenville, Oklahoma.—We have had ram on three days
during the week, the precipitation reaching two inches and
thirty-nine hundredths. The thermometer has ranged from
69 to 96, averaging 82.
Marlow, Oklahoma.—The week's rainfall has been two
inches and fifteen hundredths on three days.
Average
thermometer 82, highest 95, lowest 69.
Amite, Louisiana.—We have had rain on three days
during the week, the rainfall being one inch and thirty-five
The thermometer has ranged from 70 to 96,
hundredths.
averaging 83.
New Orleans, Louisiana.—We have had ram on four days
during the week, the rainfall being two inches and ninety
hundredths.
Average thermometer 84, highest 94, lowest 73.
Shreveport, Louisiana.—Rain has fallen on two days of the
week, the rainfall being one inch and fifty-one hundredths.
The thermometer has ranged from 70 to 95, averaging 83.
Columbus, Mississippi.—It has rained on three days of the
week, the precipitation being two inches and forty-four
hundredths.
The thermometer has averaged 83, the highest
being 96 and the lowest 69.
Meridian, Mississippi.—It has rained on five days during
the week, the precipitation reaching one inch and fifty
hundredths.
The thermometer has averaged 82, ranging
,
.
..
„
,
..
Vicksburg, Mississippi.—Rain has fallen on one day of the
week, the rainfall being fourteen hundredths of an inch.
The thermometer has ranged from 72 to 92, averaging 81.
Eldorado, Arkansas.—This week’s rainfall has been fifty-six
hundredths of an inch, on three days. Average thermometer
81, highest 95 and lowest 68.
Helena, Arkansas.—Crops are improving; some claim they
are as fine as ever seen.
We have had rain on four days
during the week, to the extent of one inch and nine hun¬
dredths.
The thermometer has averaged 79.6, ranging
from 69 to 91.
Little Rock, Arkansas.—Crop continues to improve.
We
have had rain on five days during the week, the rainfall
being ninety-three hundredths of an inch. The thermometer
has ranged from 68 to 91, averaging 80.
Memphis, Tennessee.—Crop late but progressing well.
There has been rain on four days of the week, to the extent
of thirty-five hundredths of an inch.
The thermometer
has averaged 78, the highest being 88 and the lowest 68.
Nashvillef Tennessee.—We have had rain on two days
during the week, to the extent of one inch and six hundredths.
The thermometer has averaged 75, ranging from 62 to 88.
Mobile, Alabama.—Frequent showers, very warm, crop
reported generally good. We have had rain on five days
during the week, the rainfall being one inch and thirty-nine
The thermometer has ranged from 72 to 94,
hundredths.
averaging 83.
Montgomery, Alabama.—Beneficial showers last night and
to-day. The cotton crop is improving. Rain has fallen
on two days of the week, the rainfall being one inch and
twelve hundredths.
Average thermometer 82, highest 92,
lowest 72.
Selma, Alabama.—We have had rain on five days of the
past week, the rainfall reaching two inches and five hun¬
dredths. The thermometer has averaged 81, the highest
being 95 and the lowest 67.
Madison, Florida.—We have had rain on two days during
the week, the rainfall being six hundredths of an inch.
The
thermometer has ranged from 71 to 97, averaging 84.
Tallahassee, Florida.—We have had rain on three days
during the week, the rainfall being seventy-five hundredths
of an inch.
Average thermometer 83, highest 93, lowest 72.
Atlanta, Georgia.—Rain has fallen on four days of the week,
the rainfall being fifty-nine hundredths of an inch.
The
thermometer has ranged from 66 to 88, averaging 77.
Augusta, Georgia.—Rain has fallen on one day of the week,
the rainfall being four hundredths of an inch.
Average
thermometer 82, highest 92, lowest 72.
Savannah, Georgia.—Rain has fallen on two days during
the week, the rainfall being two hundredths of an inch.
The thermometer has
ranged from 73 to 94, averaging 83.
Charleston, South Carolina.—It has rained on one day of
the week, the precipitation reaching twenty-eight hundredths
of an inch.
The thermometer has ranged from 76 to 95,
averaging 86.
Greenwood, South Carolina.—We have had rain on one
day during the week, the rainfall being fifteen hundredths
of an inch.
The thermometer has ranged from 65 to 98,
averaging 81.
Spartanburg, South Carolina.—There has been rain on
two days of the week, the precipitation
reaching two inches
and two hundredths.
Week.
Visible
The thermometer has
averaged 80,
ranging from 65 to 95.
Charlotte, North Carolina.—Improvement in the condition
of cotton is very marked.
The week’s rainfall has been
ninety-eight hundredths of an inch, on two days. The
thermometer has averaged 78, the highest being 90 and the
lowest 65.
Greensboro, North Carolina.—Rain has fallen on three days
during the week, the rainfall being one inch and twenty-seven
hundredths. The thermometer has ranged from 62 to 93,
averaging 78.
Week.
Season.
1,931,022
40,470 10,430,290
6,000 3,154.000
39,000
529.000
654,600
6,000
282^)00
Bombay receipts to Aug. 11
Other India ship’ts to Aug. 11
Alexandria receipts to Aug. 10_
Other supplies to Aug. 10*
_
_
Season.
2,2 91,106
1,796,676
supply Aug. 5
Visible supply Sept. 1
American In sight to Aug. 12—
Total
1908-09.
1909-10.
Cotton Takings.
Week and Season.
1,714,982
55,314 13,583,811
3,000 2,096,000
15,000
555,000
890,000
2,000
206,000
1,888,146 16,980,912 2,366,420 19,045,793
supply
Deduct—
Total takings to Aug.
Of which American
Of which other
*
Embraces
198.567 16.877.940
174.567 12.943.940
24,000 3,934,000
226.153 15,318,319
140.153 11,036,319
86,000 4,282,600
12
2,167,853
1,661,993 2,167,853
1,661,993
Visible supply Aug. 12
receipts In Europe from Brazil, Smyrna, West Indies, &c.
INDIA COTTON MOVEMENT FROM ALL PORTS.
1909-10.
Aug. 11.
Week.
Since
Since
Week.
Sept. 1.
6,000 3,154,000
Bombay
1907-08.
1908-09.
Since
Receipts at—
Week.
Sept. 1.
8,000 2,046,000
3,000 2,096,000
Since
For the Week.
Sept. 1.
September 1.
Exports
Great
Conti¬ Japan
Britain. nent. &China Total.
from—
from 70 to 94.
WORLD’S SUPPLY AND TAKING8 OF COTTON.
The thermometer has ranged from 68
100, averaging 84.
411
Great
Britain.
Conti¬
Japan
nent.
<fc China.
Total.
Bombay—
1909-10
1908-09..
1907-08.Calcutta—
1909-10.1908-09-1907-08-Madras—
1909-10.1908-09.
1907-08-All others—
1909-10-.
1908-09..
1907-08...
1,666
3,000
5,000
3,000
7,000 10,000
5,000 11,000
3,000
3,000
2,000
978.000
585,000
616,000
53,000
45,000
27,000
50,000
31,000
20,000
108,000
82,000
52,000
5,000
3,000
5,000
6,000
5.000
6,000
5,000
4*000
6,000
1,000
1,000
12,000
6,000
5,000
4,000
5,000
4,000
28,000
47,000
39,000
7,000
14,000
10,000
39,000
66,000
3,000
8,000
7,000
15,000
1,000
1,000
22,000
9,000
10,000
36,000
28,000
29,000
316,000
295,000
266,000
30,000
84,000
37.000
382,000
.
^
3,666
.
4,000
2,666
Total all—
1909-10.1908-09.
66,000
53,000
407,000
332,000
988,000 2.503,000
801,000 1,837,000
497,000 1,511,000
140,000 1,375.000
64,000 972,000
4,000 15,000 30,000 49,000
7,000 26,000
1,000 18,000
2.000 17.000
2,000 21,000
-
1007-OS..
901,000 1,974,000
672,000 1,282,000
430,000 1,074,000
95,000
25,000
28,000
948,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria. Egypt,
Avg. 10.
1909-10.
1908-09.
4,909.579
6,675,429
Receipts (cantars)—
This week
Since Sept. 1
500
.
2,250 .195,933
218,444
5;750 368,785
2,000 91,550
2,000 228,945
210.688
5,000 648,445 10,000 874,712
8,750 892,820
5",666
exports
Since
Sept. 1.
156,736
119,286
309,889
62,534
,
Total
This
Week.
This
Since
Week. Sept. 1.
Liverpool. 1
Manchester
Continent
America
9,000
7,169,671
Sept. 1.
This
Week.
Exports (bales)—
To
To
To
To
1907-08.
Note.—A cantar Is 99 lbs.
Since
f
5",750
376,309
1,000
76,878
Egyptian bales weigh about 750 lbs.
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:
October 1 to August
Great Britain.
1.
For 1909-10.
Takings by spinners
Average weight of bales
Takings In pounds
bales
lbs.
For 1908-09.
Takings by spinners
Average weight of bales
Takings In pounds
bales
lbs.
Total.
Continent.
2,788,000
4,998,000
490
468
7,786,000
475.9
1,366,120,000 2.339,064,000 3,705,184,000
3,094.000
5,341,000
8,435,000
510
485
494.2
1,577,940,000 2,590,285,000 4.168.225,000
According to the above, the average weight of the deliv¬
eries in Great Britain is 490 lbs. per bale this season, against
510 lbs. during the same time last season.
The Continental
deliveries average 468 lbs., against 485 lbs. last year, and for
the whole of Europe the deliveries average 475.9 lbs. per bale,
Our dispatch also gives the
last year in bales of 500 lbs.
against 494.2 lbs. last season.
full movement for this year and
1908-09.
1909-10.
October 1 to August 1.
Bates of 50Q lbs. each.
000s omitted.
Great Conti¬
Britain nent.
Spinners* stock Oct. 1
Takings-to Aug. 1
2,732
Supply
Consumption, 43 weeks
2.966
2,735
231
Spinners* stock Aug. 1
Week's Consumption,
000s omitted.
In October
In November
In December
In January
In February
In March
In April
In May ijj
In
July
*
Small consumption due to
234
Total.
7,410
3Q8
3,156
1,046
5,180
1,354
8,336
4,515
8.262
7,250
3.464
3,110
6,226
4.370
7,840
1,381
1,612
354
1,496
1,850
1,218
4,678
*
Great Conti¬
Total. Britain nent.
5,896
1.452
9,690
E29
65
65
65
65
65
65
65
65
65
55
105
105
105
105
»
105
105
105
105
105
105
170
170
*30
60
78
80
80
170
170
170
170
170
170
170
160
:
lockout In Lancashire.
110
110
140
170
188
80
110
110
110
110
110
110
190
190
190
80
IB
190
to
6o
190
190
190
THE CHRONICLE
412
COTTON CROP CIRCULAR.—Our Annual Cotton Crop
Review will be ready in circular form about Wednesday,
Parties desiring the circular in quantities, with
should send in their
early delivery.
Sept. 7.
their business card printed thereon,
orders as soon as possible to secure
ALABAMA’S
Marks &
FIRST NEW BALE.—Messrs.
Gayle, of Montgomery, Ala., telegraph us that the first bale
of new Alabama cotton of the crop of 1910 was expressed to
them on the 10th from Geneva County.
Last year the first
bale reached Montgomery on Aug. 7 and in 1908 the earliest
arrival was on Aug. 3.
MANCHESTER MARKET.—Our report received by
cable to-night from Manchester states that the market is
quiet for yarns and firm for shirtings. The demand for
for both yarn and cloth is improving.
We give the prices
for to-day below and leave those for previous weeks of this
and last year for comparison:
1909.
1910.
d. s. d.
d.
J’ne.
24
10 9-16@ll 5 16 5
d.
Upl’s
d.
d.
s.
d.
9
4
9
@8 11
6.06
@
@
@
@
@
953
953
953
953
953
4
4
4
4
4
10
0
6.33
153
6.75
3
2
3
6.72
6.48
6.73
@
@
953 4 10
953 4 10
2
2
6.69
6.72
d.
d.
8.05 853
653@10 5
ings, common
to finest.
32s Cop
Ttcist.
Upl’s
d.
s.
Cot’n
Mid.
853 lbs. Shirt¬
Cot’n
MU.
85i lbs. Shirt¬
ings, common
to finest.
32s Cop
Ttcist.
®
s.
July
L
8
15
22
29
1053
10*3
1053
1053
@
@
@
1053
@
1153 5
5
5
1153 5
1153 5
553@1 04
5
@10 4
5
@1 0453
553@10 6
6
@10 7
7.86
7.92
7.94
7.97
8.16
1153 5
1153 5
6
6
8.07 9
8.31 9
11
11
@
853
853
953
853
953
'
@9
1053@9
11
@9
10
@9
10 >3 @9
Aug
5
12
1053
®
1053
@
@10 7
@10 753
SHIPPING NEWS.—As shown
on
a
@9
@9
previous page, the
exports of cotton from the United States the past week have
reached 43,066 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Jl UCU/u
l/U'W'O
•
NEW YORK—To Liverpool—Aug. 5—Baltic, 7,149
7,149
To Manchester—Aug. 5—Thesplc, 30
30
To Havre—Aug. 6—Caroline, 3,950 upland, 34 foreign; Parthenla, 6,748
Aug. 10—La Bretagne, 202 upland, 50 Sea
Island
10,984
To Bremen—Aug. 5—Brandenburg, 5,358
Aug. 10—Barba-
6,074
rossa,
To Antwerp—Aug. 5—Vaderland, 875
To Barcelona—Aug. 6—Manuel Calvo, 567
GALVESTON—To Hamburg—Aug. 9—Troja, 951
NEW ORLEANS—To Liverpool—Aug. 6—Barbadian, 204
10—Commodore, 800
To Havre—Aug. 11—Texas, 3,131
To Bremen—Aug. 11—Meltonlan, 2,200
To Hamburg—Aug. 6—Atlantic, 1,011; Ormlston, 50
To Antwerp—Aug. 8—Kingstonian, 72
To Barcelona—Aug. 9—Emilia, 1,950__
To Genoa—Aug. 9—Cynthlana, 954
To Trieste—Aug. 9—Emilia, 100.
—11,432
875
567
951
Aug.
1,004
3,131
2,200
1,061
72
1,950
954
100
SAVANNAH—To Hamburg—Aug. 10—Slgmarlngen, 496
BOSTON—To St. John—Aug. 4—Calvin Austin, 110
496
110
Total
43,066
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sales, stocks, &c., at that port:
July 22.
Sales of the week
bales. 22,000
Of which speculators took..
Of which exporters took
6,000
Sales, American
17,000
Actual export
12,000
Forwarded
41,000
Total stock—Estimated
458,000
Of which American
366,000
Total Imports of the week
16,000
Of which American
11,000
Amount afloat
37,000
Of which American
20,000
July 29.
22,000
1,000
3,000
18,000
6,000
28,000
439,000
347,000
15,000
8,000
37,000
19,000
The tone of the Liverpool market
each day of the past week and the
spot cotton have been
Spot.
Market,
1
5
J
12:15
P. M.
Spec.&exp.
Futures.
Market
1
25,000
2,000
40,000
390,000
294,000
20,000
8,000
26,000
8,000
for spots and futures
daily closing prices of
doing.
doing.
8.20
8.31
8.40
8.32
8.36
8.31
10,000
3.000
8,000
300
5,000
300
5,000
4,000
3;ooo
500
500
400
Steady at Veryst’yat
5@6 pts.
4@6 pts.
decline.
] Firm
advance.
at 153
Firm at
1 pts. dec. to 853@1253
J 553pts.adv. pts. adv.
Tuesday.
Wednesday. Thursday.
Dull
and
easier.
Quiet.
Friday.
-
Dull.
Steady at
553®7
pts. adv.
Quiet at
1@3 pts.
advance.
1 pt.
decline.
Steady at
53 @2 53
pts. dec.
Steady at
4@553
pts. adv.
Quiet at
1@253
pts. adv.
Dull.
Quiet, unch.
Weak at
7 53@953
to
pts. dec.
Steady at
753@9
pts. dec.
prices of futures at Liverpool for each day
Prices
are on
the
basis of
clause, unless otherwise stated.
prices are given in pence and 100ths.
Sat.
Aug. 6
Mon.
Tues.
to
Aug. 12.
12 H
p.m.
12 53
p.m.
d.
August
Aug.-Sep_
Sep -Oct
_
_
Oct.-Nov.
Nov .-Dec.
Dec.-Jan.
Jan.-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-June
28,000
3,000
47,000
412,000
321,000
22,000
16,000
30,000
8,000
Fair
business
Market
The
4~,666
Monday.
J
The
below.
i“666
Fair
business
opened
4
P. M.
follows:
Aug. 12.
33,000
Saturday.
MId.Upl’ds
Sales
as
Aug. 5.
34,000
7
7
7
7
7
7
7
7
7
7
7
d.
91
68
32
16
07
04
04
04
03
03
03
53
53
53
53
53
53
are given
upland, good ordinary
Thus, 7 91
Wed.
means 7
91-100d.
Thurs.
Fri.
12 5i i
12 5*
4
12 5*
4
4
4
4
125*
125*
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
d.
99
03 53
75 53 80 53
36 53 44
18
25 53
09
!16
06
113 53
05 53 1253
05
|12 53
05
04 53 12
04 53 12
(1253
d.
10
87
49 53
31 53
22
19
18 53
18 53
18 53
18
18
d.
03
79
41 53
23
14
11
d.
02 53
78 53
40
22
13
10
1053 09 53
10 53 09 53
1053 09 53
10
09
10
09
.
d.
07
83
46
28 53
19
16
d.
06 53
83
45 53
28
18 53
d.
09 53
85
47 53
29 53
20
1553 16 53
16 53
1553 15
16 53
1553 15
16 53
1553 15
15
14 53 16
15
14 53 16
d.
d.
00 53 02
76 53 77 53
38 53 38 53
20 53 20 53
11
1153
08 53 08 53
08
08
07 53 07 53
07 53 07 53
07 53 07
07 53 07
h
[VOL.LXXXXI
BREADSTUFFS.
Friday Night, Aug 12 1910.
Prices for wheat flour in the local market have been irregu¬
lar, but on the whole somewhat easier, owing to a decline in
wheat.
Trade has been of small proportions, consumers
in many cases being disposed to await developments.
In
some other parts of the country, however, the situation has
improved of late. At the Northwest most of the mills report
increasing interest on the part of buyers. The increase in
business has not become pronounced as yet, but the general
position of the market is considered more healthy. In parts
of the Southwest, too, trade has latterly improved, notably
at Kansas City where a large export business is said to have
been transacted.
Rye flour and corn meal have been quiet
ana generally steady.
Wheat continued to decline early in the week, influenced
mainly by a very favorable Government report on the winterwheat yield and large receipts.
Contributory influences
were dulness on the spot, large world’s shipments,
increasing
supplies and some improvement at one time in the weather
and crop news from France and Argentina. The Government
report on the 8th inst. stated the yield of winter wheat in
this country at 15.8 bushels per acre, against a yield of 15.8
per acre last year.
This indicates a yield of 458,294,000
bushels, against 446,366,000 last year. This was bet¬
ter than had been expected.
The condition of spring
wheat was stated at 61%, against 61.6% in the previous
month and 91.6% last year.
The indicated crop of
spring wheat is 200,000,000 bushels, making the total indi¬
cated yield of winter and spring wheat 658,000,000 bushels,
against 737,189,000 last yearv There is a belief among many
that the outturn of spring wheat will finally exceed the indi¬
cated crop of Aug. 1.
Certainly that has been the tenor of
many of the private reports from the Northwest of late,
notably those from South Dakota and Southern Minnesota.
Meantime the crop movement continues to run largely in
excess of that of a year ago, while the milling demand in
many parts of the country is very small.
The world’s ship¬
ments last week were 10,464,000 bushels, or close to 600,000
bushels more than in the previous week and 2,656,000 more
than for the same week last year.
The world’s visible supply
showed an increase for the past week of 1,273,000 bushels,
as compared with a decrease for the
corresponding period
last year of 2,881,000 bushels.
At times Liverpool has
weakened under more cheerful crop accounts from France
and also because of a large estimated Danubian surplus.
Hedge selling has been a feature. Professional traders of
prominence have attacked the market at times. Of late,
however, there has been a tendency to rally under the stimu¬
lus mainly of bullish foreign crop and market news.
This
has caused active buying for both short and long account.
,
One cable received here stated that continued bad weather
in France has practically destroyed the crops in some sec¬
tions and that imports would be necessary to the extent of
100,000,000 bushels. Moreover, some of the crop reports
from Germany and Russia have been unfavorable.
Expor¬
ters have manifested greater interest in the market, though
actual sales for export have been small.
It is believed,
however, that
sooner or
later
a more qr
less marked revival
of export trade in this country will be witnessed.
Many
attach great importance to the foreign-crop situation, be¬
lieving that developments in Europe will have an unusually
important bearing upon the course of prices on this side of
the water.
The action of the Liverpool market is being
closely watched.
There has been some falling off in the crop
movement in this country of late, especially in the South¬
west.
The demand for flour in some sections has increased.
At Kansas City a large export trade in flour is said to have
been done.
Liverpool has rallied sharply of
the unfavorable Continental crop news.
late, reflecting
Some foreign
buying orders for futures have been received. Commission
houses have made purchases and early sellers have covered.
To-day prices were stronger, owing to higher Liverpool
cables, bullish foreign crop news, reports of export sales,
commission-house buying and covering of shorts.
DAILY CLOSING PRICES OF WHEAT FUT URES IN NEW YORK.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
No. 2 red winter
108 5* 107 5* 107 5* 107 5* 109 5* 110
108 53 107 53 107 5* 107 53 108 53 109 H
September delivery In elevator
December delivery In elevator
111 53 11053 110 J3 1105* 112
11253
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
September delivery In elevator
December delivery In elevator
May delivery In elevator.
Mon.
Tues.
Wed. Thurs. Fri.
102 5* 10153 101 53 101 53 102 53 102 H
105 53 104 53 104 53 104 % 106
106 53
..10953 109
109
109
11053 11153
Indian corn futures in the local market have been nominal.
At Chicago the speculation has been active at some advance
in prices.
Stimulating and strengthening factors have been
increasing complaints of insufficient moisture, reports of bar¬
ren stalks in some sections, the fact that farmers are not sell¬
ing freely, small receipts at Chicago, where the shipping de¬
mand has been active, rising cash prices at the West and a
disappointing Government report on the 8th inst. The con¬
dition of the crop on Aug. 1, as stated by the Government,
was 79.3%, against 85.4% on July 1 and 84.4% on Aug. 1
last year.
The indicated crop is about 3,000,000,000 bush.,
against 2,774,376,000 last year. To-day prices were firmer,
owing to unfavorable crop reports, light offerings, buyingjby
cash interests and covering.
^
.*
AUG.
THE CHRONICLE
131910.]
NO. 2 MIXED CORN IN NEW YORK.
DAILY CLOSING PRICES OF
Cash
Mon.
Sat.
72%
72%
73 *
74%
September delivery In elevator
71% 71
71
71 % 72% 73%
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
September delivery In elevator.
December delivery In elevator.
May delivery In elevator
..
Wed. Thurs. Fri.
63 %
64%
65%
60%
61%
62%
62%
63%
64%
Tues.
63 %
63
60
59 %
61%
_
_
_
Mon.
Sat.
62 %
__
_
60%
62%
61%
Oats for future delivery in the Western market have been
irregular within narrow limits. Receipts are liberal and
hedge selling has been persistent, while the weakness in
wheat has had
a
depressing effect at times.
On the other
hand, however, the strength of corn has had a tendency to
hold any decline in oats in check, while there has also been a
noticeable disposition to buy on recessions, on the idea that,
in view of the shortage in hay and pasturage, oats at around
current prices afford a good investment.
The cash market
at the West has been firm, with a brisk demand at times.
The Government report on the 8th inst. stated the condition
as of Aug. 1 at 81.5%, against 82.2% on July 1 and 85.5%
last year.
The indicated yield is about 1,000,000,000 bush.,
against 1,007,353,000 in August last year. To-day prices
were firmer on the rise in wheat and corn, commission-house
buying and covering.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Mon.
Tues.
Wed.
Thurs.
Fri.
46-48
46 %-48 % 46 %-48 % 46 %-48 %
Norn.
Sat.
Natural white 46-48
White clipped 48-50
48%-50% 48 %-50 % 48 %-50 %
38-50
Nom.
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
September delivery In elevator
36 % 36 % 36 % 36 % 37
37 %
December delivery In elevator
38 %
38 %
38 % 38 % 38 % 39
The
following
are
closing quotations:
FLOUR.
Winter, low grades. ___$3 00@$3 60 Kansas straights, sack.S4
5
50 Kansas clears, sacks
5 30@
4
Winter patents
4 50@ 4 75 City patents
6
Winter straights
4 25@ 4 50 Rye flour
Winter clears
4
5 75@ 6 00 Graham flour
4
Spring patents
5 25@ 5 50 Corn meal, kiln dried
Spring straights
4 50@ 5 00 '...
Spring clears
GRAIN.
Corn, per bushel—
Wheat, per bushel—
N. Spring, No. 1
No. 2 mixed
elev.
81 27 %
___
___
...
...
...
__
...
—
N. Spring, No. 2
Red winter. No. 2
Hard winter. No. 2
Oats, per bushel—
Natural white
White clipped
The
110
109
Cents.
Nominal
per
10
50
10
60
25
3 40
Cents.
74 %
f.o.b.
Nominal
f.o.b.
Nominal
bushel—
No. 2 Western
State and Jersey
Nominal
Nominal
visible
Rye,
90@35
00@ 4
30 @ 7
00@ 4
15@ 4
.
No. 2 yellow
No. 2 white
121%
...
Mixed
granary
seaboard
’
•
f.o.b.
Barley—Malting
Feeding, c.l.f., N. Y__
79
Nomina]
66 @73
Nominal
supply of grain, comprising the stocks in
at principal points of accumulation at lake and
ports Aug. 6 1910, was as follows:
AMERICAN GRAIN STOCKS.
New York
Boston
.
Philadelphia
.
Baltimore
New Orleans
Galveston
Buffalo
Toledo
Detroit
-
.
.
.
.
Duluth
.
Minneapolis
.
St. Louis
Kansas City
.
.
Peoria
Indianapolis
Com,
Oats,
Rye,
Barley,
bush.
bush.
bush.
bush.
bush.
329,000
96,000
376,000
1,087,000
224,000
37,000
9,000
96,000
149,000
3,000
2,000
16,000
105,000
11,000
80,000
140,000
5,000
440.000
-
.
On Lakes
On Canal and River..
'
3,708.000
3,770,000
2,366,000
2,645,000
2,761,000
2,803,000
3,076,000
309.000
1,679,000
2,418.000
624,000
2,349,000
2,000
401,000
577,000
85,000
13,000
25,000
59,000
467,000
37,000
270,000
996,000
.
.
.
4,000
51,000
275,000
263,000
28,000
231,000
243,000
124,000
741,000
995,000
188,000
Rye,
bush.
1,70S,000
1,225,000
365,000
Total
Total
Aug. 6 1910-- 4,101,000
July 30 1910.. 4,353.000
Total Aug. 7 1909-_ 1,156,000
23,000
20.000
59.000
111,000
153,000
74.000
841,000
953,000
157,000
SUMMARY.
American
Canadian
Wheat,
Com,
bush.
bush.
* Oats,
bush.
14,798.000
4,101,000
3,708,000
23,000
2,645,000
841,000
Total Aug. 6 1910.-18,899,000
Total Juy 30 1910..16,788,000
Total Aug. 7 1909-. 9,351,000
3,731,000
3,790,000
2,425,000
For other tables usually given here,
AGRICULTURAL
.
3,486,000
3,714,000
2,960,000
see page
Barley,
Rye,
.
bush.
bush.
231,000
741,000
111,000
231,000
243,000
124,000
852,000
1,148,000
262,000
376.
DEPARTMENT’S
York, Friday Night, Aug. 12 1910.
Although progress in development of demand in the cotton
goods division of the market has to be reported, it is still with
the reservation that the expansion is irregular in character
and that the aggregate results show buyers yet in conserva¬
tive mood and working more under compulsion of covering
immediate and near-by requirements than from voluntary
action.
They are unable to do as well in the matter of price
in many directions as previously, but are slow in following
the upward movement in values.
There are at this time
practically two distinct markets; the one for goods on hand
the other for goods to be fnade.
In the former, prices have
gained little more than the elimination of irregularities, and
in the latter there are, in the instance of brown cottons and
gray goods, material advances made by sellers.
These are
not always realized, but nevertheless where buyers are
placing orders for forward deliveries they are paying tangibly
higher prices than some three weeks ago, and in some in¬
stances higher than they paid last week.
The raw cotton
situation continues a prime factor in strengthening the hands
of manufacturers, even though buyers have not yet to any
material extent allowed it to govern their action.
In plain
cottons and staple lines few buyers show a disposition to
purchase more than a short distance ahead, while the mills
in like
manner are reluctant to commit themselves, even on
prevailing range of prices, to deliveries beyond October.
Reports from the jobbing trade and of retail distribution
throughout the country are fairly satisfactory and indicate
consumption of about normal dimensions, so that expecta¬
tions of
short
enforced increase in business at first hands within
an
period appear to be justified, but the mills are not
anticipating it by increasing their output, there being a
distinct indisposition on their part to manufacture goods for
stock purposes.
Although there are occasional complaints
heard of comparatively high money, collections are coming
forward with ordinary regularity.
The woolen goods divi¬
sion shows little change.
The cloakmakers’ strike is still
unsettled, but work is being resumed irregularly. Consider¬
able sales of domestic silks have been made during the past
week, but at prices which have not been divulged.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week were 7,363 packages,
a
1910
New York to Aug. 6.
Great Britain.
Other Europe
China
India
Arabia..
Africa
West Indies..
_
.
_
Central America
South America
Other countries
REPORT
ON
Week.
2
.
.
_
1909
Since
Jan. 1.
1,273
Week.
129
8
Since
Jan. 1.
931
703
8
630
1,629
44,396
8,428
7,540
3,450
16,994
1,226
6,542
29,920
27,021
7,236 128,873
1
10,757
2,546
19,766
497
9,64fr
1,258
24,555
22
1,036
452
8,898
723
32,077
577
11,274
7,363 147,420
13,449 248,516
13
536
822
852
27
563
1,059
1,852
Total
15,000
k
New
Mexico
9,000
2,000
60,000
99,000
2,000
CANADIAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
bush.
bush.
bush.
743,000
23,000
S41,000
Montreal
Fort William
Port Arthur
Other Canadian
-
19,000
4,000
270,000
214,000
39,000
15,000
106,000
138,000
818,000
256,000
122,000
109,000
310,000
38,000
33,000
139,000
33,000
.
•
18,000
120,000
422,000
45,000
Total Aug. 6 1910. -14,798,000
Total July 30 1910. .12,375,000
Total Aug. 7 1909.
7,195,000
32.000
71,000
53,000
606,000
144,000
.
CHrago--Milwaukee.
Wheat,
549,000
THE DRY GOODS TRADE.
Wed. Thurs. Frt.
Tues.
72
73
corn...
413
The value of these New York
exports since Jan. 1 has been
$10,342,743 in 1910, against $13,808,391 in 1Q09.
In some quarters good sales of brown sheetings are re¬
ported, but in others business continues indifferent and the
aggregate result, while larger than during several preceding
weeks, is moderate. Brown drills are quiet, but in both
sheetings and drills the price tendency is upward, with top
limits practically %c. higher than a week ago.
Export
business continues slow, but inquiries are somewhat more
numerous than of late.
Denims and other coarse, colored
goods are firm, with a moderate business doing. Advances
of J4c. are recorded in kid-finished cambrics and other con¬
verted fabrics following the advance in gray goods.
Staple
prints are still being sold mainly from stock, but fine printed
goods are being fairly well ordered for 1911. The Amoskeag
staple ginghams, on which the price was guaranteed to Sept.
1, now have that guaranty extended to Oct. 1, and this has
had a steadying effect upon this class of fabrics.
Fine dress
ginghams and zephyrs for next season are well ordered.
Fair export orders for prints are noted with the demand
..
from Manila the feature.
The tone of the market for gray
goods is strong from the selling end, and further advances of
from }4c to }4c. are held for, this to some extent checking
buying: 38^-inch 64 squares show business done at 5^c.,
with sellers reserved.
Cotton yarns are moving more freely
and are gradually stiffening in price.
CEREAL
WOOLEN GOODS.—The business in men’s wear woolens
and worsteds has again been irregularly distributed ,with the
demand still inclining more to worsted than to woolen fabrics.
The average condition of the corn crop on Aug. 1 was
79.3, as compared
with 85.4 last month, 84.4 on Aug. 1 1909 and 82.1, the
average on Aug. 1
for the last ten years.
Leading lines of serges have done well and in an occasional
instance the mills have secured a full complement of orders
and an occasional line of fancy worsteds has also been sold
to about the extent of production for the season.
For carded
woolen goods orders come forward but indifferently, and up
to the present time the new season’s business in these has
CROPS, &c., TO AUG. 1.—The Agricultural Department issued on the 8th inst. its report on the cereal crops
for the month of July as follows:
Preliminary returns indicate
a
winter-wheat yield of about 15.8 bushels
per acre, or a total of about 458,294,000 bushels, as compared with 15.8
and 446,366,000 bushels respectively, as
finally estimated last year. The
average quality of the crop Is 92.6, against 90.3 last year.
The ayerage condition of spring wheat on
Aug. 1 was 61.0, as compared
with 61.6 last month, 91.6 last year and 81.9, the
ten-year average on that
date.
The average condition of the oat crop was on Aug. 1 81.5, as compared
with 82.2 last month and 85.5 a year ago, 76.8 In 1908 and 82.6, the tenyear average on that date.
The proportion of last year’s oat crop In farmers’ hands on
Aug. 1 was
about 6.3%, or 63,249,000 bushels, as
compared with 3.3%, or 26,323,000
bushels. In 1909, and 5.8%, or 50,394,000 bushels, the average proportion
on hand for the
past ten years on Aug. 1.
. ,
•
Thoacreage of buckwheat is about 816,000 acres, or 2.2% (18,000 acres)
less than
last year.
,
estimate of the
,
acreage of hay Is 45.005,000 acres, or
1.6% (739,000 acres) less than last year.
.The average condition of barley on Aug. 11 was 70.0, as compared with
about 85.4% on Aug. 1 1909, 83.1 on Aug. 1 1908 and 84.5 on Aug. 1 1907.
proved
a
returns
are
disappointment.
In low-grade cassimeres, &c.,
Some new season dress
goods are being shown but interest in these and dress goods
generally is still held in check by the strike restriction.
FOREIGN DRY GOODS.—Moderate business is reported
in dress fabrics, woolen and worsted and fine cotton makes,
but for men’s wear goods the demand is indifferent.
Silks
and ribbons are selling somewhat more freely and importa¬
tion orders for linens for next year are on a larger scale in a
firm market.
Burlaps are dull and without change in price.
also below the average.
THE CHRONICLE
414
on
City DEfAmMEWT.
State
LXXXXI.
Aug. 10 to the Egg Harbor Commercial Bank of Egg Har¬
still
bor City at 100.50.
The remaining $40,000 bonds are
for sale by the County Collector at not less than par.
Attleborough, Mass.—Bids.—The following bids
News Items.
Detroit, Mich.—Election to Vote on Municipal Ownership
of Detroit United Railways Delayed.—The special election
which the Common Council had voted to hold Aug. 15 for
the submission to the voters of a charter amendment pro¬
viding for the municipal ownership and operation of the lines
of the Detroit United Railways has been delayed by the ac¬
tion of the State Supreme Court in granting a writ' of certio¬
rari and a stay of proceedings to certain citizens who opposed
the plan.
See item under “Detroit United Railways” in our
“General Investment News” on a preceding page.
Louisiana.—Extra Session of Legislature.—Governor San¬
ders has issued a proclamation calling a special session of the
Legislature to begin at 12 m. on Aug. 15 and end Aug. 24.
The extra session is called principally for the purpose of
increasing the tax levy in the Parish of Orleans to aid the
Panama Exposition.
W.RStas
[VOL.
were
received on Aug. 3 for the $100,000 4% coupon sewer bonds
which were awarded on that day, as stated in V. 91, p. 351,
to
Perry, Coffin & Burr of Boston:
Perry, Coffin & Burr, Boston.100.31 IN. W. Haxrls & Co., Boston_100.035
Blodget & Co., Boston
100.1891Merrill, Oldham & Co.. Bos__100.029
Bessemer School District (P. O. Bessemer), Gogebic
County, Mich.—Bond Sale.—On Aug. 3 the $12,000 5%
13-15-year (serial) public-school bonds described in V. 91,
p. 287, were awarded to A. B. Leach & Co. of Chicago at
par, accrued interest and a premium.
Big Rapids, Mecosta County, Mich.—Bonds Not Sold.—
No sale has yet been made of the $2,500 bonds mentioned in
V. 91, p.
50.
Billerica, Middlesex County, Mass.—Bond Sale.—We are
advised that an issue of $9,000 bridge bonds has been sold.
Birch Tree School District (P. O. Birch Tree), Shannon
County, Mo.—Bond Sale.—The $7,500 school-building bonds
recently voted (V. 91, p. 50) have been sold.
Bloomfield, Essex County, N. J.—Bond Sale.—On Aug. 2
the $180,000 4% 35-year (average) high-school-building
bonds offered on that day (V. 91, p. 288) were awarded to
the Essex County Sinking Fund Commissioners at par.
Bond Proposals and Negotiations this week
have been as follows:
Aiken, Aiken County, So. Caro.—Bond Election.—The
election to vote on the question of issuing the $78,000 20-40- No other bids were received.
Denomination $1,000.
Date
year (optional) water-works-extension bonds mentioned in August 1 1910.
Interest semi-annual.
V. 91, p. 350, will be held Aug. 16.
Bonham, Tex.—Bond Sale.—The $15,000 water-works and
Akron, Plymouth County, Iowa.—Bond Sale.—An issue $27,000 refunding 5% 10-40-year (optional) bonds registered
of $10,000 53^% 5-10-year (optional) bonds was awarded by the State Comptroller on May 25 (V. 91, p. 50) have
on
June 28 to Geo. M. Bechtel & Co. of Davenport at 102.
Date Sept. 1 1910. Interest semi-annual.
been sold to local banks.
Bonds Not Sold.—No sale has been made of the
until 7:30 p. m.
$10,000
5% 15-40-year (optional) school-building bonds, also regis¬
tered on May 25.
Denomination $1,000. Date May 1 1910.
Secretary Sinking Fund Trustees,
Interest annual.
$7,000 park bonds.
Denomination $1,000. Maturity $2,000 yearly on
Aug. 1 from 1913 to 1915 inclusive and $1,000 Aug. 1 1916.
An election held in this borough August 9 resulted in a vote
of 118 “for” to 20 “against” the question of issuing $5,000
Denomination $500.
Akron, Ohio.—Bond Offering.—Proposals were asked for
yesterday (Aug. 12) by W. A. Durand,
for the following 43^%
bonds, aggregating $83,295:
2,525 public-improvement bonds.
Denominations $1,000 and $525.
Maturity Aug. 1 1914.
16,650 public-improvement bonds.
Denominations $1,000 and $650.
Maturity $4,000 yearly on Aug. 1 from 1913 to 1915 Inclusive and
$4,650'Aug. 1 1916.
41,620 public-improvement bonds. Denominations $1,000 and $620.
Maturity $10,000 yearly on Aug. 1 from 1913 to 1915 Inclusive and
$11,620 Aug. 1 1916.
15,500 viaduct bridge bonds.
Denominations $1,000 and $500. Maturity
$1,000 yearly on Aug. 1 from 1913 to 1915 Inclusive and $3,500
Aug. 1 1916.
■PDate Aug. 1 1910.
Interest semi-annually In New York City. The
will
bonds
be delivered within 10 days from the date of sale.
The result
Of this bond offering was not known to us at the hour of going to press.
The bonds given above take the place of the Issue of $80,770 4^%
public-improvement bonds awarded on July 22 to the Davies-Bertram Co.
of Cincinnati (V. 91, p. 287).
A question being raised as to the legality
of the Issue awarded to the Cincinnati firm, the City Council rescinded the
ordinance authorizing the same and passed new ordinances making some
additions and dividing the bonds Into the various issues described above.
The bonds have been held by the sinking fund as an Investment, having
been purchased from the city at par.
Alexandria, Rapides Parish, La.—No Bond Election.—The
reports stating that a vote will be taken Aug. 17 on the
question of issuing $12,500 bonds are incorrect, we are
advised by the Mayor.
Amite City, Tangipahoa Parish, La.—Bond Sale.—This
city has sold the $30,000 5% school-building bonds voted
on June 20.
V. 91, p. 50.
Anaheim, Orange County, Cal.—Bond Sale.—On July 28
the $7,500 5% 1-15-year (serial) gold coupon intersection¬
paving bonds described in V. 91, p. 228, were awarded to
the American Savings Bank of Los Angeles at 101.64 and
accrued interest.
Other bidders
Barroll & Co., Los Angeles.$7,569
& Co., Los An. 7,541
were:
751 G.Q.Blymyer & Co.,SanFr.$7,515 00
501 Jas.H.Adams&Co.,Los Ang. 7,514 75
Ansonia, Conn.—Bond Bids.—The following bids were
on Aug. 8 for the $35,000 4% 25-year gold coupon
(with privilege of registration) sewer bonds described in
V. 91, p. 228:
received
The Savings Bank of Ansonia
96|E. H. Rollins &
Both bidders also offered to pay accrued interest.
We
bids.
are
not advised
as
to what action
Sons, Boston__93.7
was
taken
on
these
Ashland County (P. O. Ashland), Ohio.—Bond Sale.—On
Aug. 6 the $11,500 53^% A. R. Plank Mill-Dam removal
bonds described in V. 91, p. 351, were awarded to the New
First National Bank of Columbus at 103 and accrued interest.
Following
are
the bids:
New First Nat. Bk.t Col_.$ll,845 OOlProv. Tr. & S. Bk.; Cln__$ll,774 85
Seasongood & Mayer, Cln. 11,788
651 Well, Roth & Co., Cln
11,741 50
In addition to the above, a bid was also received from Breed & Harrison
of Cincinnati.
We are advised, however, that It arrived too late to be
considered.
Maturity $1,000 each six months from Aug. 11911 to Feb. 1 1913 Inclusive
and $1,500 each six months from Aug. 1 1913 to Aug. 1 1915 Inclusive.
Atlantic City, N. J.—Bonds Awarded in Part.—Of the
four issues of 4}^% 35-year gold coupon (with privilege of
registration) bonds, aggregating $341,000, offered on Aug. 6
and described in V. 91, p. 228, the $50,000 paving issue and
$25,000 of the $102,000 park issue were taken by the Sinking
Fund at par and interest.
The only bid received, and which
was rejected by Council, was one of 100.284 submitted by
Blodget & Co. of Boston.
Atlantic County (P. O. May's Landing), N. J.—Bonds
Awarded in Part.—Of the $60,000 4% 5-10-year (serial)
registered public-building-improvement bonds described in
V. 91, p. 351, the $20,000 due in 1915 and 1916 were awarded
Bradley Beach, Monmouth County, N. J.—Bonds Voted.—
5% 30-year fire-house bonds.
Brady Independent School District (P. O. Brady), McCul¬
loch County, Tex.—Bonds Awarded in Part.—This district on
Aug. 1 sold $4,000 of the $8,000 5% 5-40-year (optional)
coupon bonds described in
Fund at par and interest.
V. 91,
p.
288, to the State School
Bristol County (P. O. Taunton), Mass.—Temporary Loan.
-—On Aug. 11 this county negotiated a temporary loan
of $40,000 with Wm. A. Read & Co. of Boston at 4.29%
discount.
Loan matures Nov. 12 1910.
Brown Creek School District (P. O. Welch), McDowell
County, W. Va.—Bonds Defeated.—A proposition to issue
$65,000 school bonds was defeated at an election held July 19.
The vote was 418 “for” to 313 “against,” a 3-5 majority
being necessary to carry.
Brownsville, Cameron County, Tex.—Bonds Voted.—An
election held Aug. 2 to vote on the question of issuing $30,000
5% water-works and electric-light enlargement and extension
bonds resulted in favor of the proposition by a vote of 89
“for” to 1 “against.”
Maturity 50 years.
Brunswick County (P. O. Southport), No. Caro.—Bond
Election.—An election will be held to-day (Aug. 13) to vote
on the question of issuing $10,000
5% 20-year Lockwood’s
Folly Township road-building bonds.
Bushnell, McDonough County, Ill.—Bond Sale.—On
Aug. 3 H. T. Holtz & Co. of Chicago were awarded the
$25,000 5% sewer bonds described in V. 91, p. 288, at 101.064
and accrued interest.
The bids received were as follows:
H. T. Holtz & Co., Chicago._$25,266
Coffin & Crawford, Chlcago_*25.281
25,201
C. H. Coffin, Chicago.
Cole’s Tr. & S. Bk., Bushnell 25,105
Harris Trust & Sav. Bk., €h_ 25,018
Farson. Son & Co., Chicago, 25,000
•
Bid conditional.
I A. B. Leach & Co., Chicago.$24,804
|S. A. Kean & Co., Chicago.. 24,800
Well, Roth & Co., Chicago.. 24,675
N. W. Halsey & Co., Chicago 24,390
Cutter, May & Co., Chicago. 23,750
These bonds were awarded to Holtz & Co. of Chicago on
V. 90, p. 1626). We are advised, however, that
the bonds were later declined by the Chicago firm and the
issue re-voted at a special election held July 21.
June 14 (see
Cadiz School District (P. O. Cadiz), Harrison County,
OYno.—No Bond Election.—Papers have reported that an
election was to have been held in this district on Aug. 6 to
vote on the question of issuing $12,000 building bonds.
We
are advised that no such election was held here.
Caldwell, Noble County, Ohio.—Bond Offering.—Pro¬
posals were asked for until 12 m. yesterday (Aug. 12) by
Hugh F. Neuhart, Village Clerk, for $3,500 4% Cumberland
Street improvement (village portion) bonds.
Authority Section 53, Municipal Code.
Denomination $500.
July 1 1910.
Interest semi-annual. Maturity $1,000 yearly on
from 1918 to 1920 Inclusive and $500 on Jan. 1 1921.
The result
bond offering was not known to us at the hour of going to press.
Date
Jan. 1
of thlp
Cape May Point, N. J.—Bond Sale.—On Aug. 8 $10,000
5% 20-year water and sewer bonds were awarded to the
Merchants’ National Bank of Cape May City at par. There
were no other bidders.
Date Aug. 8 1910. Interest semi-annual.
Carbon County School District No. 1 (P. O. Red Lodge),
Denomination $500.
Mont.—Bond Sale.—On July 30 this district awarded $11,000
15-20-year (optional) school-building bonds to the State of
Montana at par
for 5s.
The other bids
were as
follows:
Auo. 13
THE CHRONICLE
1910.]
415
Carbon County Bank—par for 5s.
John Nuveen & Co., Chicago—$11,165 and bonds for 6s,
S. A. Kean & Co., Chicago—$11,022 for 6s.
E. H. Rollins & Sons, Chicago—par for 6s.
Denomination $1,000.
Interest January and July.
were awarded to Estabrook & Co. of Boston at 102.659 and
accrued interest—a basis of about 3.85%.
Following are
the bids:
Carrizozo School District, Lincoln
Bond Sale.—On Aug. 2 the $6,000 5%
Blodget & Co
Merrill, Oldham A Co
County, N. Mex.—
10-30-year (optional)
coupon school-building-addition bonds described in V. 91,
p. 288, were awarded to J. M. Hawkins at 99.2375 and
accrued interest.
Centralia, Marion County, Ill.—Bonds Voted.—The $50,5% water-works bonds mentioned in V. 90, p. 1691, were
favorably voted at an election held July 2. Maturity $10,000
yearly. Date of sale not yet decided.
Centre, Shelby County, Tex.—Bonds Not Sold.—Up to
Aug. 5 no sale had been made of the $12,000 5% water-works
bonds mentioned in V. 91, p. 51.
Champaign School District No. 71 (P. O. Champaign),
Champaign County,’Ill.—Description of Bonds.—We are
advised that the $28,000 4%% school-building bonds
awarded recently to A. B. Leach & Co. of Chicago (V. 91,
000
110--y2eayrear
March
6.enomination
351) are dated
$500.
July Interest
mature
and serially
up to 1927.
1 1910 and
September.
Chebanse School District No. 107 (P. O. Chebanse),
Iroquois County, Ill.—Bond Offering.—Proposals will be
received until 1 p. m. August 15 by H. W. Wulffe, Clerk of
Board of Education, for $15,000 5% school-building bonds.
Denomination $1,000.
Date April 1 1910.
Interest annual.
Maturity
$1,000 yearly on April 1 from 1911 to 1925 Inclusive.
Certified check for
$500, payable to the Clerk, Is required.
No debt at present. Assessed
valuation, $282,401.
Chico, Butte .County, Cal.—Bond Offering.—Reports state
city is offering for sale (bids to be opened Aug. 15)
$20,000 improvement bonds. Purchaser to pay accrued
interest from July 2 to date of delivery.
Chicopee, Mass.—Temporary Loan.—On Aug. 8 a loan of
$10,000, payable Jan. 10 1911, was negotiated with Blake
Bros. & Co. of Boston at 4.94% discount.
Cincinnati, Ohio.—Bond Sale.—The following bids were
received on Aug. 8 for the $300,000 4% 50-year coupon
hospital and pest-house furnishing and erecting bonds
described in V. 91, p. 288:
that this
Western-German Bank, Cincinnati
:
♦$305,011 10
Well, Roth & Co., Provident Sav. Bk. & Trust Co., Citizens’"!
National Bank and Breed & Harrison, all of Cincinnati
J 303,992 00
Seasongood & Mayer, Cincinnati
302,535 00
Central Trust & Safe Deposit Co., Cincinnati
300,903 00
Columbia Savings Bank (for $5,000)
par
•Reports state that this bid was successful.
,
Clay School District (P. O. Live Oak), Sutter County, Cal.
Aug. 2 the $2,500 6% 1-5-year (serial)
repair bonds mentioned in V. 91, p. 288, were awarded to
—Bond Sale.—On
Mrs. Charlotte Witt at 100.30.
Denomination $500.
Date
Aug. 2 1910.
Interest annual.
Estabrook A Co
.
E. M. Farnsworth A Co
Edmunds Bros
Perry, Coffin A Burr
Blake Bros. & Co
The above bidders are
102.659 G. A. Fernald & Co
102.347 N. W. Harris & Co
..102.269 R. L. Day & Co
102.230 Adams A Co
102.200 E. H. Rollins & Sons...
102.156 Kuhn, Fisher & Co
102.150 Wiggin A Elwell
all of Boston.
...102.036
...102.021
...101.849
__.101.640
...101.567
...101.393
...100.260
Contra Costa County (P. O. Martinez), Cal.—Bonds
Defeated.—The $1,450,000 4%% road bonds mentioned in
V. 91, p. 51, were defeated at the election held Aug. 2.
Cooke County (P. O. Gainesville), Tex.—Bond Sale.—
Reports state that an issue of $125,000 4% bonds has been
awarded to E. H. Rollins & Sons of Denver and the Austin
National Bank,
jointly.
Corvallis, Benton County, Ore.—Bond Offering.—Propos¬
als will be received until 7:30 p. m. Aug. 15 by Geo. W.
Denman, Municipal Judge, for the following gold coupon
bonds:
$162,600 00 5% sewer bonds.
Denomination from $100 to $1,000.
Inter¬
Maturity 40 years.
40,499 37 6% street-improvement
bonds.
Denomination
assessment
$500 except one bond for $499 37.
Interest semi-annually
at City Treasurer’s office.
Maturity July 1 1920, subject
to call at any Interest-paying period.
est semi-annual
Cottonwood School District, Shasta County, Cal.—Bond
Sale.—The $1,800 bonds mentioned in V. 91, p. 167, have
been sold, it is stated, to the First Bank of Savings in Redding
for
$1,875, the price thus being 104.166.
Covina, Los Angeles County, Cal.—Bond Election.—
Reports state that this city will hold an election some time in
October to vote on a $50,000 sewer bond proposition.
Crawfordsville School City (P. O. Crawfordsville), Mont¬
gomery County, Ind.—Bond Sale.—On Aug. 4 the $82,000
4% coupon high-school-building bonds described in V. 91,
p. 289, were awarded to J. F. Wild & Co. of Indianapolis
for $82,005 (100.006) and accrued interest.
A bid of $82,041
without accrued interest, but bidder to pay for cost of print¬
ing bonds, was also received from Breed & Harrison of Chi¬
cago.
The bonds mature on July 1 as follows: $5,000 in
1911 and in 1912, $6,000 in 1913 and in 1914, $7,000 in 1915
and in 1916, $10,000 in 1917, $11,000 in 1918, $12,000 in
1919 and $13,000 in 1920.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Sale.—
On Aug. 10 the $2,698 4%% coupon Broadview Road No. 4
improvement bonds described in V. 91, p. 289, were awarded
to the First National Bank of Cleveland for $2,734 25
(101.343) and accrued interest. Other bidders were:
SeasongoodAMayer, Cln___$2,719 001 Hayden, Miller A Co., Cleve$2,715 50
Maturity $198 on April 1 1911, $250 April 1 1912, $250 yearly on Oct. 1
from 1913 to 1919 inclusive and $500 April 1 1920.
David City, Butler County, Neb.—Bond Sale.—The
Allegheny County, Va.—Bond Offering.—
$20,000
water-works-extension and $20,000 electric-lightProposals will be received until Aug. 15 by J. H. Drewry,
Cashier of Clifton Forge National Bank, who is acting as plant 5% bonds, bids for which were rejected on March 9
agent for the city, for $65,000 5% coupon general-improve¬ (V. 90, p. 926), were awarded on July 19 to the First National
Bank of David City at par and interest.
ment bonds.
Clifton Forge,
Authority Acts of the Assembly of Virginia, 2899-00, amended 1906.
$1,000.
Date Aug. 1 1910.
Interest semi-annually at
place designated by purchaser.
Bonded debt, including this Issue, $228,Denomination
000.
Assessed valuation $2,000,000.
Clinton Township, Vermilion
J. F. Wild
County, Ind.—Bond Sale.—
<x^Co. of Indianapolis have purchased and
are
offering to investors $6,000 5% 1-5-year (serial) tax-exempt
school-house bonds of this township.
Denomination $300.
Date July 15 1910.
Citizens Bank in Clinton.
Bonded debt,
Assessed valuation $3,103,410.
Interest semi-annually at the
Including this issue, $9,300.
Denomination $500.
Date Oct. 1 1909.
Interest semi-annual.
Matur¬
ity 20 years, the water bonds being subject to call after 10 years and the
light bonds after 5 years.
Delaware, Delaware County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Aug. 16 by I. E. Martin,
City Auditor, for the following 5% coupon bonds:
$3,500 North Sandusky St. Improvement (city’s portion) bonds.
Denomi¬
nation $350.
700 Campbell and Griswold streets sewer-construction (city’s portion)
bonds.
Denomination $70.
Date not later than Sept. 1 1910.
Interest semi-annually at the Sink¬
ing Fund depository In Delaware.
Maturity one bond of each issue yearly
on Sept. 1 from 1911 to 1920 inclusive.
Cody, Park County, Wyo.—No Action Yet Taken.—No ac¬
Devine Independent School District (P. O. Devine),
issuing the water Medina
County, Tex.—Bond Sale.—On Aug. 1 the State
School Fund purchased at par and interest $2,000 5% 5-40Colorado Springs School District No. 11 (P. O. Colorado
year (optional) bonds of this district.
Springs), Colo.—Bonds Awarded in Part.—Of the $125,000
Dickson City, Lackawanna County, Pa.—Bond Offering.—
(optional) school-building and ground-purchase
will be received until 8 p. m. Aug. 15 by Wm.
Proposals
bonds offered without success on June 30
(V. 91, p. 167)
$100,000 were sold on July 30 to N. W. Halsey & Co. of Kennedy, Secretary of Borough Council, for $15,000 5%
Chicago at 101.58 and interest for 5s. A bid of 101.03 and bonds for general borough purposes.
Denomination $500.
Date Sept. 1 1910.
Interest semi-annually at
interest was made jointly by E. H. Rollins & Sons and
Olyphant Bank In Olyphant. Maturity $7,500 on Sept. 1 1915 and $7,500
Woodin, McNear & Moore, both of Chicago. The Harris Sept. 1 1920. Bonds are exempt from all taxes. Certified check for $1,000,
to the Borough Treasurer, Is required.
Trust & Savings Bank of Chicago also made a bid
Bonded debt, not Includ¬
offering payable
ing this issue, $20,000.
Floating debt, $4,197 73. Assessed valuation
100% and interest.
for 1909, $1,728,796.
Columbia Township (P. O. Columbia Station),
Dillon County (P. O. Dillon), So. Caro.—Bond Offering.—
Lorain
County, Ohio.—Bond Offering.—Proposals were asked for Attention is called to the official
advertisement, dated Aug. 1
until 12 m. yesterday (Aug. 12) by H. R.
Pinckney, Town¬ and given on a subsequent
page,
stating that proposals will
ship Clerk, for $6,000 5% coupon road-improvement bonds.
Authority, Act of General Assembly passed April 22 1904; also election be received for the next 30 days for $40,000 4% court-house
held March 27 1909.
Denomination $500.
Date July 1 1910.
Interest
and jail bonds.
payable in March and September at the office of the Township Treasurer.
tion has been taken as yet in the matter of
bonds referred to in V. 91, p. 51.
Maturity $500 yearly on March 1 from 1912 to 1923 inclusive. The result
of this bond offering was not known to us at the hour of
going to press.
Columbus, Columbia County,Wis.—Bond Sale.—On Aug.
$45,000 12-year (average) school-house and $16,000
(average) electric-light 5% coupon bonds described
in V. 91, p. 352, were awarded to the Farmers' & Merchants’
Union Bank of Columbus for
$62,485 (102.434) and accrued
interest.
The following bids were also received:
10 the
First Nat.Bk.,Colum.,WIs$62,176 201 John Nuveen &
Co., Chlc.$61,457 50
S. A. Kean A Co., Chicago 61,701 50|Farson, Son A Co., Chic..
Par
A bid likewise came from Kane A Co.
of Minneapolis, offering par for
the school bonds.
.
Concord, Middlesex County, Mass.—Bond Sale— On
Aug. 9 the $20,000 4% 30-year coupon municipal-light
bonds, a description of which was given in V. 91, p. 352,
Interest April 1 and Oct. 1.
Maturity 20 years. The county has no
debt except that Incurred for current expenses.
Assessed value (about
one-fifth of actual value), “about $4,000,000.”
East Youngstown, Mahoning County, Ohio.—Bond
Offer¬
ing.—Proposals will be received until 12 m. Aug. 15 by
P. Carney, Village Clerk, for the following 6% bonds:
$1,000 Fairvlew Ave. grading bonds.
Denomination $200.
Maturity
$200 yearly on Sept. 1 from 1911 to 1915 Inclusive.
2,300 Broad St. sidewalk bonds.
Denominations 3 bonds of $400 each;
1 bond of $500 and 1 of $600.
Maturity $400 yearly on Sept. 1
from 1911 to 1913 Inclusive, $500 on Sept. 1 1914 and $600 on
Sept. 1 1915.
Date Sept. 1 1910.
Interest semi-annual. Certified check for 5% of
bonds bid for, payable to the Village Treasurer, Is required.
Purchaser to
pay accrued Interest.
Fort Smith Special School District (P. O. Fort Smith),
Ark.—Bond Sale.—Local papers, state that the $200,000 5%
416
THE CHRONICLE
coupon school-building and equipment bonds offered on
July 30, and described in V. 91, p. 229, have been awarded
to the Arkansas
Franklin
Valley Trust Co. of Fort Smith.
Township, Marion County, Ind.—Bond Sale.—
has been
An issue of $41,000 43^% school-house bonds
awarded to J. F. Wild & Co. of Indianapolis.
Denomination $500.
Date Aug. 15 1910.
Interest Jan. 1 and July 1 at
the office of J. F. Wild & Co. in Indianapolis.
Maturity $1,500 each six
months from July 1 1911 to July 1 1924 inclusive and $500 on Jan. 1 1925.
Bonds are tax exempt.
Fredonia, Chautauqua County, N. Y.—Bonds Not Sold.—
were received on Aug. 10
for the $16,500 43^%
1-10-year (serial) gold registered street-paving bonds de¬
scribed in V. 91, p. 352.
Fulton, N. Y.—Bond Sale.—On July 21 $6,238 24 6%
street-improvement bonds were awarded to Isaac W. Sherrill
of Poughkeepsie for $6,243 24 (100.08) and interest.
No bids
Date July 21 1910.
Interest annual.
however, before that time.
Maturity 1916, subject to call,
April and October. Maturity March 1 1924. See V. 91,
p. 352.
Galveston County (P. O. Galveston), Tex.—Bonds Not
Yet Awarded.—A letter received by us on August 1 stated
that no award had yet been made of the $500,000 5%
20-40-year (optional) public-road bonds, bids for which
were received (V. 91, p. 229) on July 11.
Galveston County Drainage District No. 2, Texas.—
Bonds Voted.—This district, according to reports, has voted
to issue drainage bonds.
Gardner, Worcester County, Mass.—Loan Offering.—
Proposals will be received until 6p.m. August 16 by John D.
Edgell, Town Treasurer, for $10,000 4% coupon sewer scrip.
Denomination $1,000.
Date July 1 1910.
Interest semi-annually at the
National Shawmut Bank in Boston.
Maturity $1,000 yearly on July 1
from 1911 to 1920 inclusive.
The legality of this issue has been certified
by Storey, Thorndike, Palmer & Thayer of Boston.
Gary, Lake County, Ind.—Bond Sale.—The $30,000 6%
bonds mentioned in V. 91, p. 229, have been awarded, it is
stated, to the Gary State Bank for $30,800, the price thus
being 102.666.
Gettysburg School District (P. O. Gettysburg), Darke
County, Ohio.—Bond Sale.—On Aug. 6 the $3,000 5%
coupon school-building completion bonds, description of
which was given in V. 91, p. 352, were awarded to the Dres¬
den National Bank of Dresden, O., at 103.783 and accrued
interest.
Following are the bids:
Dresden N. Bk., Dresden._$3,113 50 New First N. Bk., Colum__$3,045
First National Bank, Cleve. 3,094 25 Nate Iddings, Bradford
3,040
Citizens’ Bank, Gettysburg 3,081 90 Seasongood & Mayer, Cin__ 3,035
Barto, Scott & Co., Colum. 3,061 50 P. B. Miller, Gettysburg
(for $900 bond)
972
00
00
00
00
Maturity from 1911 to 1921 inclusive
Gibson County (P. O. Princeton), Ind.—Bonds Not Sold.—
According to local papers issues of 53^% gravel-road bonds,
aggregating $120,000, were recently offered without success.
Gioversville, Fulton County, N. Y.—Bond Sale Postponed.
—The sale of the $67,000 4% registered sewer-construction
bonds which was to have taken place Aug. 9 (V. 91,
p. 229)
was adjourned to 2 p. m. Oct. 4.
Grand Rapids, Mich.—-Bond Election.—A resolution was
passed Aug. 8 to place the question of issuing $200,000 30year bonds for the purchase of a park site before the people
Sept. 6. Interest not to exceed 5%.
Grand Valley Irrigation District (P. O. Rifle), Garfield
County, Colo.—Bonds Voted and Sold.—Authority to issue
the $435,000 6% irrigation-system-purchase and
improve¬
ment bonds mentioned in V. 91,
p. 290, was unanimously
voted at an election held Aug. 1.
Maturity 1921 to 1930.
We are informed that the bonds have been awarded at
par
and accrued interest to contractors for work
performed.
Grant County (P. O. Marion), Ind.—Bonds
Bankers.—J. F. Wild & Co. of Indianapolis are
investors $3,400 43^% Pleasant and
Offered by
offering to
Washington Townships
gravel-road bonds.
Denomination $170.
Date May 1 1910.
Interest May 15 and Nov. 16
the County Treasurer’s office. Maturity $170 each six months from
May 15 1911 to Nov. 15 1920 inclusive.
at
Grayson County Common School District No. 45, Tex.—
Bonds Awarded in Part.—Of the $5,000 5%
5-40-year
(optional) bonds registered by the State Comptroller on
June 2 (V. 91, p. 52) $2,500 were sold on Aug. 1 to the State
School Fund at par and interest.
Greenburgh Union Free School District (P. O. Irvington),
N. Y —Bond Offering.—Reports state proposals will be re¬
ceived until 8 p. m. Aug. 22 by Edwin
Wood, Clerk, for
$80,000 43^% 9-year (average) bonds. Interest semi-annual.
Certified check for 2% is required.
Greenville, Hunt County, Tex.—Bonds Voted.—An elec¬
tion held. Aug. 1 to vote on the question of
issuing $70,000
5% 40-year high-school-construction bonds resulted in a
vote of 160 ‘Tor” to 58
LXXXXI.
New First N.
Bk., Colum__$8,108 75 Weil, Roth & Co., Cin
$8,020 00
Barto, Scott & Co., Colum. 8,095 50 Seasongood & Mayer, Cin__ 8,002 00
First Nat. Bank, Cleveland 8,037 25
Maturity $800 yearly on Sept. 1 from 1912 to 1921 inclusive.
Guthrie Graded Common School District (P. O. Guthrie),
Todd
County, Ky.—Description of Bonds.—The bond issue
recently approved by the voters (V. 91, p. 52) will be for
about $8,000 and will carry 5% interest, payable semi-an¬
nually in New York. Denomination $500. Maturity 20
We
years.
district
ar^
advised under date of Aug. 10 that the
hopes to offer the bonds for sale in the near future.
Hamilton, Butler County, Ohio.—Bond Offerings.—Pro¬
posals will be received until 10 a. m. Aug. 15 by the Sinking
Fund Trustees, W. S. Bowers, Secretary, for $25,000 4%
water-works and electric-light refunding bonds.
Authority Section 113 of
an Act of the General Assembly passed Oct. 22
Denomination $500.
Date Sept. 1 1910.
Interest semi-annually
City Treasurer’s office. Maturity Sept. 1 1925. Certified check for
5% of bonds bid for, payable to the Sinking Fund Trustees, Is required
The bonds will be delivered and paid for at the Second National Bank
in Hamilton.
1902.
at the
Galion, Crawford County, Ohio.—Description of Bonds.—
The $12,000 43^% refunding bonds awarded on Aug. 1 to
the First National Bank of Cleveland for $12,175 25 (101.46)
are dated
March 1 1910.
Denomination $500.
Interest
[Voi..
A.
Proposals will also be received until 12 m. Sept. 6 by H.
Grimmer, City Auditor, for the following 4% coupon
bonds:
$35,000 municipal-electric-light-works-extension and Improvement bonds.
Denomination $500.
Maturity July 1 1930.
5,950 bonds for the acquisition of land necessary for street purposes.
Denomination $595.
Maturity July 1 1920.
50,000 street-improvement bonds.
Denomination $500. Maturity July 1
,
1925.
75,000 municipal gas works extension and Improvement bonds.
Denomi¬
nation $500.
Maturity July 1 1940.
50,000 municipal water works extension and Improvement bonds.
De¬
nomination $500.
Maturity July 1 1930.
50,000 sewer-construction bonds.
Denomination $500.
Maturity July 1
1935.
Date July 1 1910.
Interest semi-annually at the City Treasurer’s office
Certified check for 5% of bid, payable to the City Treasurer,
In Hamilton.
Is required.
At the same time (12 m. Sept. 6) the City Auditor will also
receive proposals for $11,886 50 4^% South Fifth St. im¬
provement assessment bonds.
Date June 1 1910.
Interest semi-annual.
Maturity one-tenth yearly
from 1911 to 1920 inclusive.
Certified check for 5% of bid, payable to the
City Treasure
is required.
Hamilton County (P. O. Noblesville), Ind.—Bonds
Offered
by Bankers.—The following issues of 43^% gravel-road
bonds are being offered to investors by J. F. Wild & Co. of
Indianapolis.
$3,580 Adams Township gravel road bonds.
Denomination $179.
2,360 Wayne Township gravel-road bonds.
Denomination $118.
Date May 15 1910.
Interest semi-annually at the County Treasurer’
office.
Maturity one bond of each Issue every six months from May 15
1911 to Nov. 15 1920 inclusive.
Hardy, Nuckolls County, Neb.—Bond Offering.—Propos¬
were asked for until yesterday (Aug. 12)
by G. S. Mc¬
Dowell, Chairman, and the Board of Village Trustees, for
the $15,000 5% registered water-works bonds mentioned in
V. 90, p. 1694.
als
Denomination $500.
Date June 1 1910.
Interest annually at the
First National Bank of LIn oln. Maturity June 1 1930, subject to call after
5 years.
This village has no bonded debt at present.
The result of this
bond offering was not known to us at the hour of going to press.
Harrison School District (P. O. Harrison), N. J.—Bond
Sale.—On Aug. 10 the $60,000 43^% 1-30-year (serial)
school bonds, bids for which were rejected on July 27
(V. 91, p. 290), were awarded, it is stated, to the West Hud¬
son County Trust Co. in Harrison at 100.125.
Helt Township, Vermilion County, Ind.—Bond Sale.—
This township recently disposed of $5,000 5% 1-5-year
(serial) school-house bonds to J. F. Wild & Co. of Indian¬
coupon
apolis.
Denomination $1,000.
Date Aug. 1 1910.
State Bank in Dana.
Bonds are not taxable.
issue, $7,800.
Interest semi-annually at the
Assessed valuation $3,340,710.
Bonded
debt, including this
Hester School District, Santa Clara County, Cal.—Bond
Election.—An election will be held August 17 to vote,on the
question of issuing $6,000 5% school site and improvement
bonds.
Denomination
$1,000.
Interest semi-annual.
Highland County (P. O. Hillsboro), Ohio.—Bond Offering.
—Proposals will be received until to-day (Aug. 13) by the
Pike Commissioners, W. C. Duckwall, Secretary, for $5,200
6% coupon free turnpike bonds.
Denominations: $400, $500, $600 and $700.
Date Sept. 1 1910.
In¬
terest annually at the Farmers’ & Traders’ Bank In Hillsboro. Maturity
on March 1 as follows: $400 in 1911, $500 in 1912 and 1913, $600 from 1914
to 1916 inclusive, $700 in 1917 and 1918 and $600 in 1919.
Bonds are ex¬
empt from taxation.
Is
required.
Certified check for $500, payable to the Secretary,
No bonded debt at present.
Highland Park, Wayne County, Mich.—Bond Sale.—We
now advised that the amount of
33^% paving bonds
awarded on July 2 to the city of Detroit Sinking Fund was
$139,000 and not $89,000, as reported in V. 91, p. 230.
are
Denomination $1,000.
turity $13,000 yearly.
Date July 2 1910.
Interest semi-annual.
Ma¬
Holloway School District (P. O. Holloway), Belmont
County, Ohio.—Bond Sale.—On Aug. 4 $6,500 5% building
bonds were awarded to the New First National Bank of
Columbus at 105.523.
Following are the bids:
New First Nat. Bk., Colum.$6,859 00 j Seasongood & Mayer, Cin__$6,773 00
First Nat. Bank, Cleveland 6,802 50 |C. E. Denison & Co., Cleve
6,749 25
Denomination $300, except one bond of $500.
Interest March 1 and
Maturity 1933.
These bonds were awarded on June 25 to Stacy & Braun
of Toledo (V. 91, p. 108).
The first sale, however, was never
Sept. 1.
“against.”
Groveport School District (P. O. Groveport), Franklin consummated.
County, Ohio.—Bond Sale.—On Aug. 6 the $8,000 43^%
Huntington Beach, Orange County, Cal.—Bonds Defeatedschool-improvement bonds described in V. 91, p. 353, were —By a vote of 79 “for” to 53 “against,” the $40,000 munici¬
awarded to the New First National Bank of Columbus at pal gas-plant bonds mentioned in V. 91, p. 52, were defeated
101.359.
The bids
were
as
follows:
at an
election held July 25.
AUG.
THE CHRONICLE
13 1910.
0. Marengo), Iowa.—No Action Yet
Auditor writes us under date of July 30
been set for the offering of the $30,000
-county-farm-home bonds voted (V. 90, p 1694) on June 7.
Iowa County (P.
Taken.—The County
that no date has yet
He further states that he does not think one will be deter¬
mined upon before Jan. 1 1911.
417
Marshalltown, Iowa.—Bond Election Proposed.—A peti¬
tion has been presented to the City Council requesting that
an election be held to vote on the question
of issuing $30,000
sewer bonds.
We are informed, however, that up to July 28
no action had yet been taken in the matter.
Mart Independent School District (P. O. Mart), McLennon
Jamestown, N. Y.—Bond Sale.—On Aug. 5 the $50,000 County, Tex.—Bonds Awarded in Part.—The State School
Ay2% 20-year bridge-building bonds offered on that day Fund on Aug. 1 purchased $15,000 of the $40,000 5% 20-40(V. 91, p. 290) were awarded to C. E. Denison & Co. of Cleve¬ year (optional) school-house bonds offered on June 20. See
land at 102.5715.
Denomination $1,000. Interest Jan. 1 V. 90, p. 1628.
und July 1.
Massillon, Stark County, Ohio.—Bonds Authorized.—The
Jefferson County (P. O. Birmingham), Ala.—Bond Elec¬ Mayor on August 1 approved an ordinance providing for the
tion Proposed.—There is talk of calling an election to vote on issuance of $7,000 street-paving and sewer bonds.
the question of issuing $1,000,000 good-road bonds.
Maumee, Lucas County, Ohio.—Bond Sale.—An August 10
Jellico, Campbell County, Tenn.—Bond Election.—An elec¬ the $28,000 5% coupon Wayne Street improvement bonds
tion will be held Sept. 1, it is stated, to vote on the question described in Y. 91, p. 292, were awarded to
Spitzer & Co. of
of issuing $90,000 water-works and sewerage-system bonds. Toledo for $28,768 (102,742) and accrued interest.
Maturity
Jones County Common School District No. 20, Tex.— $2,500 yearly on Feb. 1 from 1912 to 1915 inclusive and
Bond Sale.—On Aug. 1 this district awarded $2,250 5% $3,000 yearly on Feb. 1 from 1916 to 1921 inclusive.
5-20-year (optional) bonds to the State School Fund at par
Medford, Mass.—Temporary Loan.—On Aug. 9 this city
and interest.
negotiated a loan of $20,000 with Bond & Goodwin of Boston
Keyser, Mineral County, W. Va.—Bond Offering.—Pro¬ at 4.85% discount. Loan matures April 10 1911.
posals will be received until 8 p. m. Aug. 20 by R. A. Wilch,
Melrose, Mass.—Loan Bids Rejected.—Bids for a temporary
Mayor, for the $30,000 53^% coupon water-works-improve- loan of $30,000 were rejected, it is stated, by this city on
ment bonds voted on July 25.
V. 91, p. 353.
August 11.
Denomination $500.
Date Sept. 1 1910.
interest annually at the
■Council Chamber.
Maturity $2,000 yearly from 1920 to 1934 Inclusive.
Methuen, Mass.—Bond Offering.—Proposals will be re¬
Bonds are exempt from municipal taxes.
Certified check for 5%, payable
ceived until 2 p. m. Aug. 20, it is stated, for $75,000 4%
to the “Town of Keyser,” Is required.
King County School District No. 15, Wash.—Bond
Offering.—Proposals will be received until 11a.m. August 20
by Matt H. Gormley, County Treasurer, (P. O. Seattle)
for
$7,000 coupon school-house-site, construction and
furnishing bonds at not exceeding 6% interest.
Authority, election held July 23 1910.
Denomination $500.
Maturity
10 years, subject to cali after 2 years.
Certified check or draft for 1% of
bonds, payable to the County Treasurer, Is required.
Bonds will be ready
for delivery Sept. 1 1910.
Lane County School District No. 19, Ore.—Bond Offering.
—Proposals will be received until 2 p. m. Aug. 15 by R. E.
Eastland, County Treasurer (P. O. Springfield), for$20,000
5% gold coupon school-building and site-purchase bonds.
Denominations $100 to $1,000.
Date Aug. 15 1910.
Interest semi¬
annually at place designated by the purchaser.
Maturity 20 years, subject
to call after 10 years.
Certified check for 10%, payable to the County
Treasurer, Is required.
Bonded debt, this Issue.
Floating debt, $2,112 50.
Assessed valuation for 1909, $622,385.
League City School District (P. O. League City), Galveston
County, Tex.—No Action Yet Taken.—Up to Aug. 1 no date
had yet been set for the sale of the $15,000 5%
20-40-year
(optional) building and furnishing bonds voted on June 11.
See V. 90, p. 1695.
Leon County Common School District No. 30, Tex.—Bond
Offering.—Proposals will be received at once for the $7,500
5% bonds registered by the State Comptroller on June 10.
V. 90, p. 1695.
Denomination $187 50.
Date April 10 1910.
Interest annual. Ma¬
turity 40 years, subject to call after one year. J. M. Henderson Is County
Superintendent of Public Instruction.
Lewis
County (P. O. Lowville), N. Y.—Bond Sale.—On
Aug. 8 the $20,000 5% 23^-year (average) coupon courthouse-addition bonds described in V. 91, p. 353, were awarded
to the First National Bank of Lowville at 101.25 and accrued
interest.
Lincoln School District, Sutter County, Cal.—Bond Sale.—
On
Aug. 2 the $3,500 6% 1-7-year (serial) building bonds, a
description of which was given in V. 91, p. 291, were awarded
to Jas. H. Adams & Co. of Los
Angeles for $3,526, the price
thus being 100.742.
Denomination $500. Date Aug. 2
1910.
Interest annual.
Lowell, Mass.—Temporary Loan.—This city borrowed
$100,000 on Aug. 9 from Wm. A. Read & Co. of Boston at
4.19% discount. Loan matures Nov. 10 1910.
Lubbock, Lubbock County, Tex.—Ronds Voted.—Local
papers state that the citizens of this place recently approved
the issuance of $25,000 water-works and
$55,000 sewerage
bonds. The vote is reported as 135 to 10 on the water bonds
and 132 to 13 on the
sewerage bonds.
McLean Independent School District (P. O. McLean),
Gray County, Tex.—Ronds Awarded in Part.—Oi the $25,000
5% 40-year bonds offered but not sold on June 3 (V. 91,
p. 53) $10,000 were purchased on Aug. 1 by the State School
Fund at par and interest.
Madison School District, San Joaquin
County, Cal.—Bond
Sale.—A bid of 102.50 was received on
Aug. 2 from S. E.
Latta of Stockton for the $2,000 6%
school bonds described
in V. 91, p. 292.
Maturity $125 yearly on July 1 from 1911
to 1926 inclusive.
school bonds.
Milford, Clermont and Hamilton Counties, Ohio.—Bond
Sale.—On July 30 the $4,000 4% coupon water-worksextension bonds described in V. 91, p. 231, were awarded to
the Milford National Bank at par and accrued interest.
Maturity $300 yearly on May 1 from 1915 to 1922 inclusive
and $400 yearly on May 1 from 1923 to 1926 inclusive.
Milford Independent School District (P. O. Milford), Ellis
County, Tex.—Bonds Awarded in Part.—This district has
sold $10,000 of the $20,000 5% 20-40-year (optional) schoolbuilding bonds offered on May 17 (V. 90, p. 1316) to the State
School Fund at par and interest.
Miller County (P. O. Texarkana), Ark.—Bonds Proposed.—
According to Little Rock papers, this county has under
consideration a proposition to issue $400,000 road bonds.
Milton, Cavalier County, No. Dak.—Bonds Voted.—Papers
state that propositions to issue $2,500 refunding and $1,500
funding bonds were favorably voted at a recent election.
Milton School District (P. O. Milton), Cavalier County,
No. Dak.—Bonds Voted.—A special election held recently
it is stated, resulted in favor of issuing $4,000 school bonds.
Milwaukee, Wis.—Bonds Re-Awarded.—The three issues
of 4J^2%
1-20-year (serial) coupon bonds, aggregating
$480,000, awarded on July 1 to Parkinson & Burr of New
York at 100.71 have been re-awarded to R. L. Day & Co.
of Boston at 100.798.
Through an error in computation by
the Public Debt Commissioners, the bid of Day & Co. was
reported as $481,798, whereas it should have been
$483,830 40.
Bond Sale.—On August 10 the three issues of 43^% 1-20year (serial) coupon bonds, aggregating $105,000, described
in V. 91, p. 354, were awarded to Estabrook & Co. of
Chicago
at 101.07; bonds to be delivered in Milwaukee.
This is on
an interest basis of about 4.372%.
Bonds Not Sold.—*It is reported that no sale was made of
$115,000 4% coupon school bonds also offered on Aug. 10.
Denominations: 100 bonds of $1,000 each and 20 bonds of $750 each.
Date July 1 1910.
Interest semi-annual. Maturity one-twentieth yearly.
Moberly School District (P. O. Moberly), Randolph
County, Mo.—Bond Sale.—As stated in V. 91, p. 54, this
district some weeks ago awarded $32,000 5% 10-20-year
(optional) bonds to A. G. Edwards & Sons of St. Louis.
We also reported that a new election would have to be held
before the sale could be consummated.
We are now ad¬
vised that the new election has been held and the bonds sold.
Monmouth School District No. 38 (P. O. Monmouth),
Warren County, Ill.—Bonds Offered to Investors.—The First
National Bank of Chicago is offering to investors $53,000 43^%
high-school bonds
Denominations
annual.
$300 to $1,000.
Maturity $5,300 yearly
on
Date June
1
1910.
Interest
semi¬
July 1 from 1919 to 1928 Inclusive.
Monongahela City School District (P. O. Monongahela
City), Washington County, Pa.—Bond Offering.—Proposals
will be received until 8 p. m. Aug. 16 by Henry Louttit,
Secretary, for the $15,000 43^% coupon school bonds voted
(V. 91, p. 54) on June 28.
Denomination $1,000.
Date Aug. 1 1910.
Interest semi-annually at
the Monongahela City Trust Co.
Maturity $2,000 yearly on Aug. 1 from
1925 to 1931 inclusive and $1,000 on Aug. 1 1932.
Bonds are exempt from
State tax.
Certified check for $500 Is required.
Marble Cliff, Franklin County, Ohio.—Bond Sale.—On
Aug. 5 the $19,000 4^% coupon sewer bonds described in
Montgomery, Ala.—Purchaser of Bonds.—We are advised
Y. 91, p. 230, were awarded to the New First National Bank
that the purchaser of the $100,000 5% gold coupon
funding
of Columbus for $19,390
(102.052) and accrued interest. bonds sold on
Maturity $1,000 yearly on Oct. 15 from 1911 to 1929 inclusive Toledo. The July 29 (V. 91, p. 354) was Spitzer & Co. of
price paid was 102.50 and interest.
Denomination $1,000.
Date July 1 1910.
Marlborough, Mass.—Bond Sale.—On Aug. 8 the $50,000
Interest semi-annual. Ma¬
turity
July
1
1940.
4% 1-25-year (serial) coupon sewer bonds described in V. 91,
Morton School District No. 55 (P. O. Morton), Renville
p. 353, were awarded to E. M. Farnsworth & Co. of Boston
at 100.83.
The bids are reported as follows:
County, Minn.—Bonds Voted.—An election held July 19 re¬
sulted in a unanimous vote in favor of issuing $6,000 4%
E.M.Farnsworth & Co., Bos_ 100.83
100.541
Perry, Coffin & Burr, Bos
N. W. Harris & Co., Boston.100.779
Estabrook & Co., Boston
100.510
refunding bonds. Maturity $500 yearly from 1916 to 1927
R. L. Day & Co., Boston
100.669 E. H. Rollins & Sons, Bos— 100.416
inclusive. Application has been made to the State for this
Merrill, Oldham & Co., Bos..100.589 Parkinson & Burr, Boston.. 100.391
Kuhn, Fisher & Co
100.555 Adams & Co., Boston.:
100.177
loan.
County, Miss.—Bids Rejected.—A1
for the $15,000 6% coupon streetimprovement bonds, a description of which was given in
V. 91, p. 292, were rejected.
Motley County Common School District No. 6, Tex.—
Bonds Awarded in Part.—This district on Aug. 1 sold $10,000
of the $20,000 5% 5-40-year (optional) bonds registered by
the State Comptroller on June 8 (V. 90, p. 1696) to the State
School Fund at par and interest.
Moss Point, Jackson
bids received on Aug. 2
be
State
Comptroller, at his office in Albany for $2,243,000 4%
50-year gold coupon or registered canal bonds. The bonds
offered are the unsold portion of the $11,000,000 bonds
offered on July 11.
As already stated, bids were received
on that day (July 11) for only $8,757,000 of the issue and the
remaining $2,243,000 bonds were taken by the Comptroller
New York State.—Bond Offfering.—Proposals will
received until 3 p. m. August 16 by Clark Williams,
the Sinking Fund.
Inasmuch as numerous offers have
for
been received for the
purchase of these bonds, either in whole or in part, the Com¬
missioners of the Canal Fund authorized the Comptroller to
receive bids for their sale until the time mentioned above.
Niles, Trumbull County, Ohio.—Bond Sale.—On Aug. 5
$3,500 4water-improvement bonds were awarded to
Seasongood & Mayer of Cincinnati at 102.81. Following
are
the bids:
Seasongood & Mayer, Cln_$3,598 351 New First Nat. Bk.,Colum_$3,589 00
First Nat. Bank, Cleve
3,591 25 (Vinton Banking Co., Vinton 3,577 00
Denomination $500.
Date June 1 1910. Interest semi-annual. Ma¬
turity In 1920. 1921, 1922 and 1923.
Norfolk County (P.
Va.—Bond Sale.—
toll-road and bridge
O. Portsmouth),
On August 9 the $75,000 5% 20-year
bonds described in V. 91, p. 292, were awarded to the
Western German Bank of Cincinnati at 101.301 and accrued
interest.
[VOL.
THE CHRONICLE
418
Following are the bids:
Western German
Bank, Cln.$75,976 S. A. Kean
Field, Longstreth & Co., Cin.
Cutter, May & Co., Chicago. _
Ocean City,
Proposals are
& Co., Chicago..
75,409 Woodln, McNear
par
& Moore,Chic, par
par
Worcester County,
Md.—Bond Offering.—
asked for by John W. Staton, Attorney
(P. O. Snow Hill), for $10,000 bonds of this city.
Ogallalla School District No. 1 (P. O. Ogallalla), Keith
County, Neb.—Bonds Not Sold.—No satisfactory bids were
received on July 25 for the $22,000 school bonds described
in V. 91, p.
231.
Bernardino County, Cal.—
Bond Offering.—Proposals will be received until 11 a. m.
Aug. 22 by the County Board of Supervisors, Chas. Post, exofficio Clerk (P. O. San Bernardino), for the $12,500 5%
gold school bonds voted on July 1 (V. 91, p. 231).
Denomination $500.
Date July 25 1910. Interest semi-annually at the
County Treasurer’s office.
Maturity $500 yearly on July 25 from 1926 to
Ontario School District, San
bid, payable to the
required. Bonded debt.
Including this Issue, $102,500.
Assessed valuation $2,635,261. Official
advertisement states that there Is "no litigation or controversy pending
which affects the corporate existence or boundaries or the title of any official
1950 Inclusive.
Chairman of the
Certlfled check (or cash) for 5% of
Board of County Supervisors, is
Prescott School District
LXXXXI.
(P. O. Prescott), Ark.—Bond Sale.
6% high-school bonda
—This district recently soid $25,000
to Lewis W. Thomson of St. Louis.
Date July 1 1910.
Interest semi-annually at the St. Louls-Unlon Trust
Co.
Maturity $500 yearly from 1912 to 1916 Inclusive, $1,000 yearly from
1917 to 1926 Inclusive and $2,500 yearly from 1927 to 1931 Inclusive.
Putnam County (P. O. Ottawa), Ohio.—Bond Sale.—
On Aug. 6 the two issues of 5% coupon road-improvement
bonds aggregating $37,000, described in V. 91, p. 354, were
awarded to the First National Bank of Cleveland at 105.026
and accrued interest.
Some of the bidders were as follows:
First Nat. Bank, Cleve...$38,859
75)Stacy & Braun, Toledo.. .$38,761 20
Seasongood & Mayer, Cin. 38,769 301 Western-German Bk., Cln. 38,572 60
We are advised that six other bids were received but that
they arrived too late to be considered and were therefore
unopened.
Quanah Independent School District(P. O. Quanah), Tex.
-—Bond Election.—We are now advised that the question of
issuing the $15,000 additional school bonds mentioned in
V. 91, p. 293, will be submitted to a vote on Aug. 23, not
Aug. 6 as reported in local papers.
Quitman County (P. O. Belen), Miss.—Bond Offering.—At
their meeting Aug. 1 the Board of Supervisors did not dis¬
pose of the $33,500 proposed bond issue (V. 91, p. 293), but
instead they passed an order providing for the issuance of
$45,000 4^% court-house and jail construction bonds, by
authority of the Legislature of 1908, Chapter 257. Bids for
these bonds will be opened at the regular meeting of the
Board on Sept. 5.
returned
Denomination $1,000 or $500.
Interest annual. Maturity 30 years,
subject to call after 20 years. Bonded debt at present. $40,000. Assessed
valuation 1909, $1,800,000.
Official circular states that there has never
been any question of legality or any protest filed against the Issuance of
these bonds.
Richardson County Drainage District No. 1, Neb.—Bond
Offering.—Proposals will be received until 12 m. Aug. 23
by A. R. Keim, (P. O. Falls City), for $205,000 6% drainage
bonds.
Interest semi-annual.
Maturity 15 years, payment
of principal to begin after 5 years.
Ridgefarm School District No. 207 (P. O. Ridgefarm),
Vermilion County, HI.—Bond Sale.—On Aug. 8 the $20,000
5% registered school bonds described in V. 91, p. 355, were
awarded to John Nuveen & Co. of Chicago at 101.02.
Pur¬
chaser also pays accrued interest from Aug. 15 and furnishes
blank bonds.
The following bids were also received:
C. H. Coffin, Chicago—$20,201 and blank bonds.
E. H. Rollins & Sons, Chicago—$20,030 and accrued interest
S. A. Kean & Co., Chicago—$20,020 and blank bonds.
Thos. J. Bolger Co., Chicago—$20,012 50 and blank bonds.
Allerton, Greene & King—$20,010.
Weil, Roth & Co., Cincinnati—$20,005
H. C.
from Aug. 1.
and accrued Interest.
Speer & Sons, Co., Chicago—Par.
Chicago—Par less legal fees.
Farson, Son & Co.,
Maturity $1,250 yearly from 1915 to 1930 inclusive.
Roanoke, Va.—Bonds Not Sold.—No sale has yet been
made of the four issues of 4J^% 30-year coupon bonds, ag¬
gregating $500,000, mentioned in V. 91, p. 55.
Rochester, N. Y.—Note Offering.—Proposals will be re¬
to his office nor the validity of these bonds.”
ceived until 2 p. m. Aug. 16 by Chas. F. Pond, Comptroller,
Orange, Orange County, Va.—Bond Offering.—Proposals for $100,000
water-works improvement renewal notes.
will be received until 8 p. m. Aug. 15 by Frank B. Perry,
Date Aug. 19 1910.
Maturity April 19 1911. Interest rate and denomi¬
Mayor, for the $10,000 5% 15-30-year (optional) coupon nation of notes to be designated In bids.
water-works bonds voted May 31 (V. 90, p. 1629).
Rochester, Beaver County, Pa.—Bonds Proposed.—The
Denomination $500.
Date Dec. 1 1910. Interest annually at the
Borough
Council on Aug. 1 passed a motion instructing the
Treasurer’s office.
Bonded debt at present, $21,800. No floating debt.
Ordinance Committee and Borough Attorney to draw up a
Otero Irrigation District (P. O. La Junta), Otero County,
resolution for the purpose of introducing an ordinance pro¬
Colo.—Bonds Not Yet Sold.—Up to July 28 no award had
viding for a bonds issue of $125,000 for the establishment
yet been made of the $150,000 6% irrigation bonds offered of a
sewage-disposal system and the paving of streets.
without success (V. 90, p. 1629) on June 8
We are advised
Rocky
River, Cuyahoga County, Ohio.—Bond Offering.—
that they will be sold at private sale.
Proposals
will be received until 12 m. Aug. 19 by W. M.
Ottawa, Lasalle County, Ill.—Bonds Voted.—Reports
Dean,
Village
Clerk, for $8,000 4^% coupon municipal¬
state that a special election held August 2 resulted in a
bonds.
building
majority of 97 votes in favor of issuing $23,000 bridge bonds.
Authority Section 3939 of the General Code.
Denomination $500.
Painesville Township (P. O. Painesville), Lake County, Date Aug. 1 1910. Interest on April 1 and Oct. 1 at The Rocky River
Ohio.—No Action Yet Taken.—Up to July 30 no action had Savings & Banking Co.’s office. Maturity $500 every six months from
April 1 1915 to Oct. 1 1922 Inclusive. Certlfled check for $200, payable
yet been taken looking towards the issuance of the $75,000 to the Village Treasurer, Is required. Purchaser to pay accrued interest.
park and boulevard bonds voted (V. 90, p. 1697) on June 20.
Romney, Hampshire County, W. Va.—Bond Election Pro¬
Palestine, Tex.—Bond Election Proposed.—This city posed.—This town is considering the advisability of calling
proposes to hold an election to vote on propositions to issue an election to vote on the question of issuing bonds for water
$17,000 park and $9,000 fire-hall-equipment bonds.
purposes.
Pemberton Township (P. O. Mount Holly), N. J.—Bonds
Rutherfordton, Rutherford County, No. Car.—Bonds
Voted.—It is stated that a proposition to issue $15,000 bonds Voted.—An election held August 2 resulted in favor of a
to pay the cost of the township’s section of the Brown’s Mills
proposition to issue $35,000 bonds for the purpose of install¬
and Lakehurst Road carried by a vote of 129 to 4 at a
ing and equipping an electric-light and water-works-system.
recent election.
The vote is reported as 110 to 88.
Penelope Independent School District (P. O. Penelope),
St. Petersburg, Hillsboro County, Fla.—Bond Election
Hill County, Tex.—Bonds Awarded in Part.—On Aug. 1
Postponed.—The
election which was to have taken place
$5,000 of the $12,500 5% 10-40-year (optional) bonds regis¬
vote
on
July
19
to
propositions to issue $100,000 6% 30-year
tered by the State Comptroller on July 1 (V. 91, p. 170) were
bonds as follows (V. 90, p. 1698), was postponed until
awarded to the State School Fund at par and interest.
Aug. 30: $67,500 for paving, $10,000 for water-improvement,
Pensacola, Fla.—Bonds Not to Be Offered at Present.—We $10,000 for water-front improvement, $5,000 for sewers and
are advised that the $150,000 paving and $100,000 sewerage
$7,500 for fire-station and fire-alarm system.
bonds voted on June 14 (V. 90, p. 1697) “will not be sold
Salem, Columbiana County, Ohio.—Bond Offering.—Pro¬
until after Jan. 1 1911.”
Pittsfield, Mass.—Temporary Loan.—A loan of $20,000 posals will be received until 7 p. m. Aug. 16 by the Sinking
Fund Trustees for $14,000 43^% coupon refunding bonds.
dated August 9 1910 and maturing in six months has been
Authority, Section 113, Municipal Code.
Denomination $500. Date
negotiated, it is stated, with Bond & Goodwin of Boston at July 1 1910. Interest semi-annually at the City Treasury. Maturity
$1,000
yearly
on
July
from
1920
to
1933
Inclusive.
Bonds are exempt
1
4.87% discount.'
Certlfled check for $280, payable to the "City of Salem,”
Port Tampa City, Hillsboro County, Fla.—Bonds Voted.— from taxation.Geo.
Holmes Is City Auditor.
Is required.
An election held recently resulted in favor of a proposition
Salina, Saline County, Kan.—Bonds Voted.—The $40,000
to issue $25,000 5% 20-year water-works bonds.
The issue
4^% 20-year city-hall bonds mentioned in V. 91, p. 294
we are advised, will be offered at private sale.
Aug. 13
were
carried
by “over 200 majority” at the election held
Aug. 2.
San Benito Independent School District(P. O. San Benito),
Cameron County, Tex.—Bonds Awarded in Part.—On Aug. 1
$12,500 of the $25,000 5% 5-40-year (optional) bonds regis¬
tered by the State Comptroller on June 2 (V. 90, p. 1698)
were sold to the State School Fund at par and interest.
Sand Creek Township, Decatur County, Ind.—Bond Sale.
—This township has sold to J. F. Wild & Co. of Indianapolis
$6,600 4*4% school-house bonds.
Denomination $275.
First National Bank in
Date July 1 1910.
Interest semi-annually at the
Westport.
Maturity $275 each six months from
July 1 1911 to Jan. 1 1923 inclusive.
Bonds are exempt from taxation.
Bonded debt, including this issue, $9,149 80.
Assessed valuation, $970,865.
San Francisco, Cal.—Bonds Awarded in Part.—Of the
second installment of $240,000 434% Geary Street Ry.bonds,
bids for which were opened on Aug. 2 (V. 91, p. 294), $123,000 were awarded, according to local papers.
Seattle, Wash.—Bond Sales.—The following improvement
bonds, aggregating $791,009 23, were issued by this city
during July:
78,030
82,203
1,038
1,035
3,181
5,251
Date
Purpose.
Amount.
$36,632
318,232
4,195
5,295
5,013
1,220
42,530
59,457
18,781
30,283
15,408
1,038
60.-Gradeandcurblng..
25..Grade and bridge._
92..Paving
13. .Sewerage
25..Sidewalks and curbs
94.-Paving
13. Paving
88.-Paving
14. .Sewers..
46__Gradeand curbing..
73..Grade and curbing._
76..Sidewalks
80..Paving
92..Paving
76..Sidewalks
66. .Water mains.
49. .Sewerage.
97..Grade and curbing..
.
[ 19,545 11 ..Sewerage
f
419
THE CHRONICLE
1910.1
35,760 53.-Grade and curbing.
_
113,702 35..Grade and curbing..
13,168 45..Light
July
July
July
July
July
July
July
July
July
July
July
July
July
July
.July
July
July
.July
.July
.July
July
.July
5
5
12
12
12
11
12
11
14
15
19
19
16
16
19
22
22
25
25
25
25
25
.
Int.Rate. Maturity.
1910
7%
5 1915
July
1910
7%
5 1920
July
1910
7%
July 12 1915
1910
7%
July 12 1915
1910
7%
July 12 1915
1910
7%
July 11 1915
1910
7%
July 12 1915
1910
7%
July 11 1920
1910
7%
July 14 1915
1910
7%
July 15 1915
1910
7%
July 19 1915
1910
7%
July 19 1915
1910
7%
July 16 1920
1910
7%
July 16 1920
1910
7%
July 19 1915
1910
7%
July 22 1915
1910
7%
July 29 1915
1910
7%
July 25 1915
1910
7%
July 25 1915
1910
7%
July 25 1920
1910
7%
July 25 1915
1910
6%
July 25 1915
Sedalia School District (P. O. Sedalia), Pettes County,
Mo.—Bond Sale.—Local banks have agreed to purchase at
Ear
thebids
$65,000
10-20-year
coupon
building
4]4%were
onds,
for which
rejected(optional)
on June 20.
V. 91,
p. 55.
Sherman, Grayson County, Tex.—Bonds Not Yet Sold.—
Transylvania County (P. O. Brevard), No. Car.—Bonds
Voted.—An election held August 2 resulted, it is stated, in
favor of a proposition to issue $100,000 434% 30-year bonds
for the purpose of subscribing to the
& Knoxville Ry. which, it is said, is
stock of the Greenville
to be built from Green¬
ville, N. C., to Knoxville, Tenn.
Trenton, N. J.—Bond Offering.—Proposals will be re¬
ceived until 12 m. Aug. 18 by H. E. Evans,City Treasurer,
for the following 434% bonds:
$100,000 water bonds dated Oct. 1 1908 and payable Oct 1 1938.
Bonds
may be coupon or registered, or both combined, at option of pur¬
chaser.
50,000 20-year rglstered or coupon harbor bonds.
5,000 20-year registered fire and police telegraph and telephone bonds.
Interest semi-annual.
Certified check drawn on a national bank in the
following amounts required with bids: for the $100,000 issue, $2,000, for
the $50,000 issue, $1,000 and for the $5,000 issue $100.
The
official notice of this bond offering will be found among
department.
Urbana, Champaign County, Ohio.—Bond Election.—
Local papers report that it has been decided to vote Aug. 30
on a proposition to issue $150,000 bonds for the purchase
of the plant of the Urbana Water Works Co.
Vallejo, Solano County, Cal.—Bond Election.—This city it
to hold an election in the near future, it is stated, for the
purpose of submitting to the voters a proposition to issue
$165,000 improvement bonds.
Vallejo School District, Solano County, Cal.—Bond Sale.—
On Aug. 1 the $60,000 5% bonds mentioned in V. 90, p. 1631,
were awarded to G. G. Blymer & Co. of San Francisco at
103.416.
Following are the bids:
the advertisements elsewhere in this
G. G. Blymer
N. W. Halsey
& Co., San Fr_$62,050l E. H. Rollins & Sons, San F.$61,476
& Co., San Fr. 61,5161 J. H. Adams & Co., Los An. 61,101
Ventura Union High School District (P. O. Ventura),
Ventura County, Cal.—Bond Election.—The voters of this
district will have submitted to them on Aug. 15 a proposition
to issue
$75,000 high-school-building bonds.
Wabash County (P. O. Wabash), Ind.—Bonds Offered by
Bankers.—J. F. Wild & Co. of Indianapolis are offering to
$3,400 434% Wabash and Grant County Line
gravel-road bonds.
investors
Date May 1 1910.
Interest May 15 and Nov. 15
Maturity $170 each six months from
County Treasurer’s office.
May 15 1911 to Nov. 15 1920 Inclusive.
Denomination $170.
at the
No sale has yet
Waltham, Mass.—Temporary Loan.—This town, it is
stated, has negotiated a $35,000 3-months loan with Blake
Bros. & Co. of Boston at 4.46% discount.
Waynesburg Special School District (P. O. Waynesburg),
Stark County, Ohio.—Bond Offering.—Proposals will be re¬
ceived until 1 p. m. Aug. 18 by the Board of Education»
(W. E. Yarger, Clerk) for $15,000 4% school bonds.
the issue.
$1,000.
been made of the $12,000 water and $8,000
street-improvement 434% registered bonds, bids for which
were rejected on June 6.
See V. 91, p. 55.
Somerset County (P. O. Princess Anne), Md.—Bond Sale.
—On August 9 the $25,000 434% 15-39-year (serial) coupon
high-school-building bonds described in V. 91, p. 355, were
awarded to the Bank of Somerset at 101 and accrued interest.
C. E. Dennison & Co. of Cleveland offered $25,099 25 for
Stigler, Haskell County, Okla.—Bond Sale.—The $45,000
Authority, Sections 3991; and 3992, Revised Statutes.
Denomination
Interest semi-annual.
Maturity $1,000 yearly on Oct. 1 from
1915 to 1929 Inclusive.
Bdtids are subject to call at any Interest-paying
period. Certified check for $250 is required.
West, McLennon County, Tex.—Bond Sale.—The $6,000
5% 10-30-year (optional) coupon school-building bonds
which were offered on April 15 (V. 90, p. 1002) were sold
The bonds are Issued under authority of Section 27, Article 10, State
on Aug. 1 at par and interest to the State School Fund.
Constitution, and election held March 29 1910.
Denomination $1,000.
Westchester County (P. O. White Plains), N. Y.—Bond
Date April 1 1910.
Interest semi-annually at the fiscal agency of the State
of Oklahoma In New York City.
Maturity April 1 1935. Total debt.
Sale.—On Aug. 9 the $30,618 83 5% registered funding
Including these bonds. $75,000. Taxable property, $1,600,000. Assessed
bonds described in V. 91, p. 295, were awarded to Estabrook
value, $800,000.
Summit County (P. O. Akron), Ohio.—Bond Sale.—On & Co. of New York City at 109.76, while the $13,122 36 5%
Aug. 5 the $9,000 assessment and $34,500 county’s portion registered temporary loan bonds also offered on Aug. 9 were
Kenmore Road 5% coupon bonds described in V. 91, p. 294, awarded to Kountze Bros, of New York City at 100.544.
were awarded to Otis & Hough of Cleveland for $45,027 50
Westfield, N. Y.—Bond Sale.—The National Bank of
Westfield has purchased at 100.25 the $10,000 434% 7-11-year
(103.511) and accrued interest.
Swoyersville School District, Luzerne County, Pa.—Bond (serial) refunding water bonds offered on July 15 and de¬
Bonds are dated Aug. 1 1910.
Sale.—The Washington Investment Co., Inc., of Pittsburgh scribed in V. 90, p. 1699.
Bond Election Postponed.—An election which was to have
has been awarded the $15,000 5% tax-free school-building
been held Aug. 9 to vote on the question of issuing sewer
bonds offered but not sold on July 8.
See V. 91, p. 294.
bonds was postponed.
Sylv&nia, Screven County, Ga.—Bond Offering Postponed.
Williams Union High School District, Colusa County, Cal,
—The offering of the three issues of 5% gold coupon bonds
—Bond Sale.—On Aug. 3 the $25,000 5% high-school-build¬
aggregating $40,000, which was to have taken place Aug. 1
ing and improvement bonds mentioned in V. 91, p. 295,
(V. 91, p. 294) was postponed.
were awarded to N.W. Halsey & Co. of San Francisco at 102.15
Tarentum, Allegheny County, Pa.—Bond Sale.—On Aug.6 and accrued interest. Denomination $500. Date
Aug. 1
the $10,000 434% 22-year coupon grading, curbing and
1910.
Interest semi-annual.
paving bonds described in V. 91, p. 355, were awarded to
Willoughby, Lake County, Ohio.—Bond Sale.—On Aug. 8
J. S. & W. S. Kuhn of Pittsburgh.
A bid was also received
the three issues of 434% bonds aggregating $9,500, described
from the Washington Investment Co. of Pittsburgh.
in V. 91, p. 356, were awarded to the Tillotson & Wolcott Co,
Tehama County (P. O. Bed Bluff), Cal.—Bond Election.—
of Cleveland at 103.757 and accrued interest.
Following
The Board of County Supervisors have called an election are the bids:
for August 16 to vote on propositions to issue $150,000
Tillotson & Wolcott Co., Cl.$9,857 15 First Nat. Bank, Clev
$9,732 26
Hayden, Miller & Co., Clev. 9,791 50 Seasongood & Mayer, Cin._ 9,694 00
bridge and $25,000 highway bonds.
Andrews Insti. for Girls.
9,740 00 C. E. Denison & Co., Clev.. 9,659 40
Terre Haute, Ind.—Bond Sale.—The United States Trust
In
addition
the
to
above,
Weil, Roth & Co. of Cincinnati
Co. of Terre Haute, offering 102.781 and accrued interest,
bid $6,015 for $6,000 light bonds, while a local party offered
was the successful bidder on Aug. 5 for the $40,000 4% 20$2,563 75 for $2,500 street bonds.
year coupon sewer-construction bonds described in V. 91,
Willow Lake, Clark County, So. Dak.—Bonds Defeated.—
p. 294.
The following bids were received:
U. S. Tr. Co., Terre Haute$41,112 401 Am.-Ger.Tr.Co., Terre H_$40,080 00
We are informed that this place has defeated a proposition
Miller, Adams &
water-works and $30,000 sewer 6% bonds offered for sale on
May 17 (V. 90, p. 1196) have been purchased and are being
offered to investors by Wollenberger & Co. of Chicago.
_
Co., Ind. 40,361 00 [ J. F. Wild k Co., Ind’lls.. 40.005 00
Terrell County Common School District
Bonds Awarded in Part.—Of the $25,000
No. 1, Tex.—
5% 5-40-year
(optional) bonds offered without success on May 30 (V. 90,
p. 1699), $10,000 were disposed of to the State School Fund
on Aug. 1 at par and interest.
Tioga, Grayson County, Tex.—Bond Election.—Papers
state that City Council has ordered an election to vote on the
question of issuing $10,000 water-system-improvement
bonds.
to issue bonds.
Windsor, Henry County, Mo.—Bonds Not Sold.—No sale
made on Aug. 1 of the $16,000 sewer and $39,000 water
coupon bonds described in V. 91, p. 295.
Wingo Graded School District (P. O. Wingo), Graves
County, Ky.—Bond Offering.—Proposals will be received for
$5,000 5% school-building bonds.
was
Authority vote of 111 to 16 at an election held May
tlon $1,000.
Interest annual.
Maturity 20 years.
debt at present.
14 1910. Denomina*
The district has oq
420
THE CHRONICLE
Wise County
(P. 0. Wise), Va.—Bond Election.—The
question of issuing $700,000 good-road bonds will be sub¬
mitted to a vote of the people on Nov. 22.
Worcester, Mass.—Bond Sale.—On July 28 $75,000 4%
10-year street paving bonds were sold to the Sinking Fund
at 100.82—a basis of about 3.90%.
Date July 1 1910.
Interest semi-annual.
Temporary Loan.—A loan of $150,000 due Oct. 14 1910
was negotiated
on Aug. 10 with F. S. Moseley & Co. of
Boston at 3.75% discount and $3.25 premium.
Wyandotte, Wayne County, Mich.—Bond Election.—An
election will be held in this city August 15 to vote on a
proposition to issue $25,000 water-works-plant bonds.
Yakima County (P. O. North Yakima), Wash—Bond
Election.—It is stated that an election is to be held in this
county in the fall to vote on the question of issuing $125,000
road bonds.
Yakima County School District No. 91, Wash.—Bond
Offering.—Proposals will be received until 10 a. m. Aug. 20
by Frank Bond, County Treasurer (P. O. North Yakima), for
$5 ,500 coupon bonds at not exceeding 6% interest.
Authority Sections 117, 118, 119, &c., of the Code of Public Instruction,
Laws of 1897, pages 357 et seq.. also an election held July 19 1910.
Date
“day of issue,” or may be dated on the first of some month at the bidders
option.
Interest annually at the Cou.ity Treasurer’s office.
Maturity
20 years, subject to call after 5 years.
Yellowstone County School District No. 14 (P. O. Colum¬
bus), Mont.—Bond Sale.—On Aug. 5 $7,175 5% 10-year
school-building bonds were awarded to F. II. Ray at par.
Denomination $500, except one
terest January and July.
bond of $175.
In¬
Date Aug. 1 1910.
Yonkers, N. Y.—Bond Offerings.—Proposals will be re¬
Aug. 23 by Joseph Miller, City Comptroller,
4J^% registered bonds:
ceived until 12 m.
for the following
$40,000 school bonds.
Maturity $2,000 yearly
1930 Inclusive.
54,000 city-hall bonds.
1930 Inclusive.
Maturity $2,700 yearly
17,900 fire-bureau-equipment bonds.
from 1911 to 1920 inclusive.
25,000 road-improvement
from
1911
to
1930
bonds.
Aug. 1 from 1911 to
on
Aug. 1 from 1911 to
on
Maturity $1,790 yearly
Maturity
$1,250
yearly
on
Aug. 1
Aug.
on
1
inclusve.
Date Aug. 1 1910.
Interest April 1 and Oct. 1 in New York exchange.
Certified check for 2% of bonds bid for, payable to the Comptroller, Is re¬
Bonds will be ready for delivery Aug. 30.
quired.
The validity of the
bonds will be certified to by Hawkins, Delafleld & Longfellow of New York
City, whose opinion will be furnished to the successful bidder.
NEW LOANS.
$ I
50,000 Harbor Bonds
Flathead
5,000 Fire and PoliceTelegraph
and Telephone Bonds
Office of City Treasurer,
Trenton, N. J., Aug. 6th, 1910.
SEALED PROPOSALS will be received at this
office until 12 o’clock noon, Thursday,
August 18th, 1910,
for the purchase of the whole of $100,000 of City of
Trenton, N. J., thirty-year, four and one-half per
cent semi-annual Water Bonds.
Said bonds may be registered or coupon bonds
or registered
and coupon bonds combined; at
the option of the purchaser, and shall be dated
October 1st, 1908, payable October 1st, 1938.
Also for the purchase of the whole of $50,000
City of Trenton, N-. J. twenty-year, four and one
half per cent semi-annual, registered or coupon
Harbor Bonds.
Also for the purchase of the whole of $5,000.
City of Trenton, N. J., twenty-year, four and onehalf per cent semi-annual registered Fire and Police
Telegraph and Telephone Bonds.
For the payment of all said bonds, the public
faith and credit of the inhabitants of the City of
Trenton Is fully pledged.
Each bidder will be required,as an evidence of
good faith, to enclose certified checks on a National
Bank as follows:
For the $100,000 Issue of Water bonds, a check
for $2,000. ‘
For the $50,000 Issue of Harbor bonds, a check
for $1,000.
For the $5,000 Issue of Fire and Police Tel. and
Tel. Bonds a check for $100.
Checks will be Immediately returned to un¬
successful bidders.
The bonds will be awarded to the bidder whose
proposal will be most favorable to the City, but
the right Is reserved to reject any or all bids not
deemed for the Interest of the City.
Proposals to be sealed and addressed to
H. E. EVANS,
Arnprior, Ont.—Debenture Sale.—Wood, Gundy & Co. of
Toronto have purchased the $14,000 4)^% 30-year schoo
debentures mention of which was made in V. 90, p. 1443.
Aylmer, Ont.—Debenture Sale.—On Aug. 2 the $21,000
5% water-works-extension debentures offered on that day
(V. 91, p. 295) were awarded to James J. Nans at par and
accrued interest.
Other bids were as follows:
A. Jarvis & Co., Toronto
$20,754 IW. A McKenzie & Co., Tor..$20,500
Brent, Noxon & Co., Toronto 20,729)
Maturity part yearly on July 31 from 1911 to 1940 inclusive.
Berlin, Ont.—Debenture Election.—It is said that on Aug.
rate-payers will vote on a $15,000 loan by-law and an
$8,300 sewer by-law.
Calgary, Alberta.—Debenture Offering.—Proposals will be
received until 2 p. m. Aug. 20 by WT. I). Spence, City Clerk,
for the following coupon debentures:
29 the
$26,000 00 4 Yi% 20-year park, &c., debentures.
Date June 1 1907.
1,100 00 4 .^% 10-year boulevard debentures.
Date Aug. 2 1909.
18,630 00 5% 20-year sewer debentures.
Date Aug. 2 1909.
3,270 16 4
7-year plank walk debentures.
Date Aug. 2 1909.
4,500 00 4
7-year plank-walk debentures.
Date Jan. 1 1910.
340 00 4
30-year general debentures.
Date Jan. 1 1910.
247 00 4
20-year local-improvement debentures.
Date Jan. 1 *10.
Debentures to be delivered In Calgary.
Debenture debt. Including these
Issues, but excluding those Issued for local Improvements, $3,797,950.
Assessed value for taxation, $30,796,092.
Camrose, Alberta.—Debenture Offering.—Further details
at hand relative to the
offering on Aug. 16 of the follow¬
ing 5% gold debentures mentioned by us last week: $30,000
for electric-light-plant, $2,500 for park improvements and
$1,000 for fire protection. Proposals for these debentures
will be received until 8 p. m. on that day (Aug. 16)
by O. B.
Olson, Secretary-Treasurer.
are
Date July 19 1910.
Interest annually at the Merchants’ Bank of Canada
Maturity part yearly for twenty years.
Debentures are ex¬
empt from taxation.
Debenture debt, Including these Issues, $69,645 25.
No floating debt.
Assessed valuation, $858,198.
In Camrose.
Canora, Sask.—Debenture Sale.—During July $6,000 5 J^%
& James of Regina. They
in 20 annual installments.
Dauphin School District, Man.—Price Paid for Debentures.
—The price paid by Brent, Noxon Sc Co. of Toronto for
the
school debentures were sold to Nay
are dated July 12 1910 and
payable
00,000
County, Montana
Office of the
County Clerk,
Kallispell, Mont., July 12th, 1910.
Notice Is hereby given that sealed bids will be
received by the County Commissioners of Flathead County In the State of Montana, at the
office of the County Clerk, at Kallispell, Montana,
on the 17th day of August, 1910, for the sale of
SI00,000 refunding bonds, the denominations of
said bonds to be $1,000 each, payable in 20 years
and redeemable in 10 years, and to bear interest
at
not
to exceed 4H%
per annum, Interesr
payable at the office of the County Treasurer of
said County on the 1st days of January and July
of each year.
Bids will be opened at the office
of the County Clerk ex-offlcio Clerk of the Board
of County Commissioners
of said County at
Kallispell, Montana, on Wednesday, the 17th
day of August, 1910, at 10 o’clock A. M.
A
certified check of 5% of bid to accompany each
bid, check to be returned If bid Is rejected.
The Board reserves the right to reject any or
.
$40,000
COUNTY OF DILLON, SOUTH CAROLINA
Court House Bonds
Bids will be received for the next thirty days
for $40,000 00 twenty-year “Court House Bonds,”
County of Dillon, South Carolina; Issued to aid
In building Court House and Jail, pursuant to an
Act of General Assembly of said State, regular
session, 1910, and authorized by vote of qualified
electors of the County; bear Interest at rate of
4% per annum, payable semi-annually on 1st
April and October of each year.
Dillon County
has assessed value of property of about $4,000,000
(about 20% of actual value); has no other bonded
or other Indebtedness, except for current expense,
and Is one of the most prosperous and progressive
counties In the South.
Address all communica¬
tions to
J. H. DAVID,
Secretary Court House Commission,
Dillon, S. C
August 1, 1910.
bids.
By order of the Board of County Commissioners.
C. T. YOUNG?, County Clerk,
by FRED S. PERRY, Deputy County Clerk.
F. WM. KRAFT
Reynolds, Watson & Co.
Municipal and Corporation Bonds
We offer
LAWYER
Municipal and Corporation Bonds
1312 FIRST
a
very
exceptional
DRAINAGE
Specializing in Examination of
BOND
NETTINa
NATIONAL BANK BLDU..
6%
CHICAGO, ILL.
400 The
City Treasurer.
Charles M. Smith & Co.
NEW LOANS.
4y2% Refunding Bonds
all
LXXXXI
Canada, its Provinces and Municipalities.
NEW LOANS.
$100,000 Water Bonds
City of Trenton, N.J.
[VOL.
Rookery
CHICAGO
BLODGET & CO.
BONDS
CORPORATION AND
MUNICIPAL BONDS
riBST NATIONAL BANK BUILDING
CHICAGO
OO STATE STREET,
SO PINE STREET,
BOSTON
NEW YORK
7 Wall St.,
Naw York
Railroad, Street Ry., Gas a Elec. Light
SECURITIES
Municipal and
STATE, CITY & RAILROAD RONDS
MUNICIPAL AND RAILROAD
HQDENPYL, WALBRIDGE & CO.
McCOY & COMPANY
Corporation Bords
181
La Sail#
Street, Chlcage
BONDS
LIST ON APPLICATION
SEAS0NG000 & MAYER
Mercantile Library Building
Cincinnati
OTTO JULIUS MERKEL
BROKER
44 AND 44 WALL
STREET, NEW YORK
INVESTMENT SECURITIES
OhmnMhn InYltut.
AUG. 13 1910,
THE CHRONICLE
$12,000 5% debentures recently awarded to them (V. 91,
p.
295)
was
in V. 91, p. 296, were awarded to C. H.
Toronto at 104.593 and accrued interest.
98.175.
Following
Darlingford School District (P. 0. Manitou), Man.—De¬
on a
Noxon & Co. of Toronto.
Date Dec. 3 1909.
Maturity part yearly
Interest annually at the Dominion Bank in Deloraine.
on Dec. 3 from 1910 to 1929 inclusive. Debentures
Debenture debt, Including this issue, $5,exempt from all taxation.
997 28.
Floating debt $6,072 85.
Assessed valuation 1910, $281,653.
are
Dunnville, Ont.—Debenture Sale.—On Aug. 8 the $10,000
4J/£% coupon bonus debentures described in V. 91, p. 356,
were awarded to W. A MacKenzie & Co. of Toronto at 95.50
and accrued interest.
The other bidders were as follows:
Ontario Securities Co., Tor__$9,537 Wood, Gundy & Co., Toronto.$9,456
A. Jarvis & Co., Toronto
9,464 R.C. Matthews & Co., Toronto 9,350
C. H. Burgess & Co., Toronto. 9,464
Maturity part yearly for twenty years.
Fredericton, N. B.—Debenture Offering.—This city, reports
state, is offering for sale $20,000 4% street debentures. I. R.
Golding is City Treasurer.
Glenwood School District No. 1357 (P. O. St. Vital East),
Man.—Debenture Election.—An election will be held Aug. 25
to vote on the question of issuing $20,000 school site and con¬
struction
debentures.
,
are
Burgess & Co. of
the bids:
C. H. Burgess & Co., Toronto $33,1071 Wood, Gundy &
Co., Toronto$32,462
Aemllius Jarvis & Co., Tor._ 32,681 |W. A. Mackenzie & Co.,
Tor. 32,050
All bidders offered accrued Interest In addition to their bids.
benture Election.—A vote will be taken Aug. 15, it is
reported,
by-law to issue $8,000 6% 18-year school debentures.
Deloraine, Man.—Debenture Sale.—The $6,000 5% gold
coupon local-improvement debentures offered on July 30
(V. 91, p. 173) have been awarded, it is stated, to Brent,
421
Pipestone, Man.—Debenture Sale.—According to reports
Corporation of Toronto has pur¬
chased $10,000 4% 20-year
telephone debentures.
Richard Rural School District No. 1092, Man.—De¬
benture Offering.—Proposals will be received until
Aug. 15
by J. A. De Cosse, Secretary-Treasurer (P. O. Somerset),
for $7,500 5% 20-year debentures.
Saltfleet, Ont.—Debenture Sale.—Reports state that
$9,000 5% 20-year debentures have been awarded to C. H.
Burgess & Co. of Toronto.
Seaforth, Ont.—Debentures Voted.—The election held
Aug. 8 resulted in favor of the question of issuing the $75,000
5% 30-year debentures mentioned in V. 91, p. 357. The
vote was 386 “for” to 36 “against.”
Of the above debentures
$50,000 are issued as a “guaranty to R. Bell, E. & T. Co.”
and $25,000 for “Hydro-Electric Power.”
Springvale School District No. 219, Alberta.—Debenture
Offering.—Proposals will be received until Aug. 15 by W. P.
Code, Secretary-Treasurer (P. O. Red Deer, Rural Route
No. 2), for a $2,300 6% school debenture.
Maturity part
yearly for 20 years.
Stettler, Alberta.—Debenture Offering.—Proposals will
be received until 6 p. m. Aug. 20
by David Mitchell, Town
Commissioner, for the following 5^% coupon debentures:
the Dominion Securities
McTaggart, Sask.—Debenture Sale.—This place sold $2,500
6% local-improvement debentures in July to Nay & James of
Regina. Maturity part yearly for 10 years.
$13,000 debentures for the purchase of a right-of-way for the Canadian
Northern Railway.
Maturity part yearly on Sept. 1 from 1911
Markdale, Ont.—Debenture Sale.—The $5,000 5% 25-year
to 1930 Inclusive.
school-building debentures mentioned in V. 90, p. 1004, have
7,500 debentures as a loan to assist in the construction of a flour and
grist mill.
been awarded, it is stated, to R. A. Barron of Elora.
Maturity part yearly on Sept. 1 from 1911 to 1917
inclusive.
Date Sept. 1 1910.
Pelee Township, Ont.—Debenture Offering.—Proposals
Interest annually at the Secretary-Treasurer’s
Debenture debt at present, $23,080.
will be received until 12 m. Aug. 26 for $4,000 5% town-hall- office in Stettler.
Floating debt
Assessed valuation 1910, $737,111.
$10,000.
construction debentures.. Maturity part yearly for 20 years.
Swift Current School District, Sask.—Debenture
Offering.
Wm. Stewart is Township Clerk, P. O. Pelee Island.
—Proposals will be received until Aug. 19 by W. H. Field,
Penetanguishene, Ont.—Debenture Sale.—On Aug. 2 the Secretary-Treasurer, for $10,000 6% 20-year school-deben¬
four issues of 5% debentures aggregating $31,653, described tures.
MISCELLANEOUS.
MISCELLANEOUS.
OFFICE OF THE
FORREST & C:< >BANKERS
421 Chestnut St..
PHILADELPHIA. PA.
New York, January 21st, 1910.
The Trustees, in conformity with the Charter
of the Company, submit the following statement of its affairs
on the 31st of December, 1909.
Premiums on Marine Risks from 1st January, 1909, to 31st
December, 1909
$3,759,391 25
Premiums on Policies not marked of! 1st January, 19C9
Municipal and
Corporation Bonds
717,712 70
Total Marine Premiums
ESTABLISHED U85
H. C. SPEER & SONS CO.
First Nat. Bank
ATLANTIC MUTUAL INSURANCE COMPANY.
Bldg., Chicago
$4,477,103 95
Premiums marked off from 1st January, 1909. to 31st December. 1909
Interest received during the year
Rent less Taxes and Expenses
$322,046 46
145,679 82
Losses paid during the year which
WESTERN
MUNICIPAL AND SCHOOL BOND Si
and
previous
were
years
$829,378 19
1,149,459 56 $1,978,837 75
Salvages
$249,891 07
235,520 48
Re-insurances
Jucjctrmxlant
P. O. BOX 27. MAIN OFFICE.
Expenses, including officers* salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
OFFICIAL ORGAN OF THE ASSOCIATION Ol
AMERICAN GOVERNMENT ACCOUNTANTS
A MONTHLY MAGAZINE OF INTEREST
TO
ACCOUNTING AND FINANCIAL OFFICER1*
OF
MUNICIPALITIES, BANKS. RAILWAYS
AND OTHER PUBLIC
SERVICE CORPORA
TIONS.
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS’ OFFICES.
Sample Copy 15
cents. Per Annum $1
1909
Real Estate cor. Wall & WllllamSts.,
& Exchange Place.$4,299,426 04
Other Real Estate &
claims due the com¬
pany
75,000 00 4,374,426 04
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under policles payable In foreign countries.
Cash In Bank
The United States Lift
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P.
MUNN, M. D., President,
Finance Committee
CLARENCE H. KELSEY. Pres. Title Gu.&Tr IX
WM. H. PORTER, Pres. Chemical National Pan.
ED. TOWNSEND, Pres. Imp. & Traders Nat m*
Good men, whether experienced In life
Insurant
or not, may make direct contracts
with this C<m
pany, for a limited territory If desired, and
for
arcur*
themselves. In addition to first year’s oomrni?
■Ion, a renewal Interest Insuring an Income for Or
future.
Address the Company at lta Home O'fic
No. 277 Broadway. New York
City
R. T. Wilton & Co.
33 WALL STREET
NEW YORK
Aggregating
$60,285 14
$356,913 94
ASSETS.
United States & State of New York
Stock, City, Bank and other Se¬
curities
$5,461,042 00
Special deposits in Banks deTrustCos. 1,000,000 00
1
1850
485,411 55
$1,493,426 20
Returns of Premiums
WASHINGTON. D. C.
$467,726 28
estimated In 1908
Losses occurred, estimated and paid in 1909
Less
$3,701,557 05
1,213,069 68
LIABILITIES.
Estimated Losses and Losses Un¬
settled
Premiums on Unterminated Risks.
Certificates of Profits and Interest
Unpaid
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
ing—
Real Estate Reserve Fund
$2,393,297 00
685,546 90
263,468 95
120.569 42
22,353 49
7.404,890 00
370,000 00
239,948 04
633,405 13
$12,921,890 89
Aggregating
$11,260,125 76
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 first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed and
paid to the holders thereof,
or their legal representatives, on and after
Tuesday the first of February next, from which date all
interest thereon will cease.
The certificates to be produced at the time of
payment and canceled.
A dividend of Forty per cent Is declared on the net earned
premiums of the Company for the year
ending 31st December, 1909, which are entitled to participate in dividend, for
which, upon appli¬
cation. certificates will be issued on and after Tuesday the third of May
next.
By order of the Board.
G. STANTON FLOYD-JONES, Secretary.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN,
JOHN N. BEACH,
JOHN CLAFL1N,
GEORGE C. CLARK.
CLEVELAND H. DODGE.
CORNELIUS ELDERT.
RICHARD H. EWART.
PHILIP A. S. FRANKLIN,
HERBERT L. GRIGGS.
TRUSTEES.
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LEDYARD,
CHARLES D. LEVERICH.
LEANDER N. LOVELL,
GEORGE H. MACY,
CHARLES H. MARSHALL.
DALLAS B. PRATT.
GEORGE W. QUINTARD,
A. A.
RAVEN,
JOHN J. RIKER,
DOUGLAS ROBINSON,
GUSTAV H. SCHWAB,
WILLIAM SLOANE,
NICHOLAS F. PALMER,
ISAAC STERN.
HENRY PARISH.
WILLIAM A. STREET.
ADOLF PAVENSTEDT,
GEORGE E. TURNURE.
CHARLES M. PRATT.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-President.
[VOL.
THE CHRONICLE
422
Qxvlzt Companies.
3Jrast @ am parties.
IB ms Trust GontpaDy of jin If
Chartered 1353
45 and 47 WALL
CAPITAL,
-
-
This Company acts as
STREET
Executor, Administrator, Guardian,
•Iher recognized trust capacities.
It allows Interest at current rates on deposits.
It holds, manages and Invests money, securities
$13,733,303.21
-
-
-
$2,000,000.00
-
-
-
-
SURPLUS AND UNDIVIDED PROFITS
LXXXXI.
Manhattan
Trust
Trustee, Court Depositary and In
and other property, real or personal, for estates
•orporatlons and Individuals.
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS, 2d Asst.Sec.
Temporary Offices
TRUSTEES.
JOHN A. STEWART,
Gustav H. Schwab,
Frank Lyman,
James Stillman.
John Claflln,
John J. Phelps,
W. Bayard Cutting,
Wtniair. Rockefeller,
Alexander E. Orr
VTRIlam R. Macy Jr.,
WUham D. Sloane,
Chairman ot the noara.
Lewis Cass Ledyard,
Lyman J. Gage.
Payne Whitney,
Edward W. Sheldon.
Chauncey Keep
George L. Rives,
Arthur C. James,
William M. Kingsley.
William Stewart Tod.
113 BROADWAY
Ogden Mills.
Egerton L. Wlnthrop
WALL STREET
Fidelity Trust Company
CORNER NASSAU
NEWARK, N. J.
Jtxcmtttlattls.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates. Guarantees Titles of
Real Estate throughout New Jersey.
LYBRAND,
ROSS BROS &
Acts as Executor,
General Banking and Sayings
Bond Department for
Departments.
purchase and sale of municipal and public utility
Department.
securities. Safe Deposit
CENTRAL TRUST COMPANY
Certified Public Accountante
(Pennsylvania)
165 Broadway.
PHILADELPHIA,
Land Title Bldg.
PITTSBURGH,
Union Bank Bldg.
CHICAGO, First National Bank Bldg,
NEW YORK,
JAMES PARK
Wall Street
AUDITORS
FOR
FINANCIAL
INSTITU¬
TIONS. INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical A adits and Accounting.
(of which $ 1 7,000,000 has been earned)
to act
as
Chicago,Cincinnati, and
London, England.
Capital and Surplus, $18,000,000
Authorized
&. CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York,
of NEW YORK
54
MONTGOMERY
Executor, Trustee, Administrator
ginattcial.
or
Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
Adrian H. Muller & Son,
AUCTIONEERS.
Regular Weekly Sales
OF
CHARTERED
STOCKS and BONDS
1864
Union Trust Company of NewVork
MAIN OFFICE: 80 BROADWAY.
EVERY
WEDNESDAY
Office, No. 55 WILLIAM STREET.
Corner Pine Street.
Uptown Office: 425 Fifth Avenue, corner 38th Street,'
With Modern Safe Deposit Vaults
Snrplns (earned) $7,737,000
Capital $1,000,000
ALLOWS INTEREST ON DEPOSITS.
Acts
as
THE AMERICAN MFG. CO.
MANILA, SISAL AND JUTE
Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf of Individuals, Institutions or Corporations.
CORDAGE
65 Wall Street,
New York
IUinoisTnist&$arati>sBanI*
GEO. B. EDWARDS
CHICAGO
Tribune Building. 154 Nassau Street.
Capital and Surplus
$13,600,000
Pays Interest
-
on
Time Deposits, Current and Reserve Accounts.
Foreign Exchange.
Deals in Investment Securities and
Transacts
a
General
Trust
CORRESPONDENCE
Business.
INVITED-
Telephone 4218 Btoekman,
NEW YORK. N. T
Negotiations,Investigations, Settlements
In
or out of New York City
Satisfactory References
Bank and Trust Company
Stocks
NEW YORK AND BROOKLYN
BOUGHT AND SOLD
CLINTON
GILBERT
2 WALL ST., NEW YORK.
Aug. 13
THE CHRONICLE
l9io.)
xv
Sttisl ©trntyanljcs.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, MASS.
BOSTON, MASS.
APITAL, $1,000,000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorized to act as Executor, and to receive
and hold money or property In trust or on deposit
from Courts
Equity Executors,
of Law or
Administrators, Assignees, Guardians, Trustees,
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed on Deposits Subject to Check.
Capital and Surplus
I
OFFICERS
DAVID R. WHITNEY, President
CHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER, Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN, Asst. Sec. & Treaa.
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Offloer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts.
BOARD OF DIRECTORS
William Endicott, Chairman
James G. Freeman
Morris Gray
James R. Hooper
Ernest Lovering
Henry H. Proctor
James M. Prendergast
Herbert M. Sears
Walter C. Baylles
Alfred Bowditch
S. Parker Bremer
Timothy E. Byrnes
Charles F. Choate
Alexander Cochrane
Philip Dexter
William Endicott Jr.
Franois W. Fabyan
William Farnsworth
Frederick P. Fish
Lawrence M. Stockton
Nathaniel Thayer
Eugene V. R. Thayer
David R. Whitney
George Wigglesworth
MORTGAGE & TRUST
COMPANY
SURPLUS,
$4,000,000.00
$2,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutor, Administrator, Guard¬
ian
and
in
aU
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
Reginald Foster
George P. Gardner
Hon.T.JeffersonCoolidge
Edwin Farnham Greene
Robert F. Herrick
T. Jefferson Coolldge Jr.
Charles E. Cotting
Laurence Minot
Maxwell Norman
Hon. Richard Olney
Robert T. Paine 2nd
Henry Parkman
Andrew W. Preston
Walter Hunnewell
Richard S. Russell
Charles W. Whittier
Henry S. Howe
Alvah Crocker
PRESIDENT. PHILIP STOCKTON.
Treasurer. FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Manager Credit Dept., ELMER E. FOYE.
Secretary. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Vice-Presidents. WALLACE B. DONHAM
Authorized Reserve Agent for Trust Companies in Maine, Massachusetts and Rhode Island.
Valley Trust Co.
Girard Trust Company. Mississippi
Fourth & Pine Sts., St. Louis.
Capital and Surplus, $10,000,000
capital, surplus
and PROFITS
CHARTERED 1836.
as Executor, Administrator, Trustee,
Assignee and Receiver.
Financial Agent for Individuals or
Corporations.
Interest Allowed
Acts
as
Individual and
Corporation Accounts.
Trustee of Corporation Mortgages.
on
Depositary under Plans of Reorganization,
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglar^Proof Vaults.
MANAGERS:
Edward J. Berwlnd,
Effingham B. Morris,
John A. Brown Jr.,
John B. Garrett,
William H. Gaw,
Francis I. Gowen,
Geo. H. McFadden,
Randal Morgan,
Edw. T. Stotesbury,
Charles E. Ingersoll,
John S. Jenks Jr.,
Henry B. Coxe,
Edgar C. Felton,
Winiam T. ElUott,
W. Hlnckle Smith,
Henry TatnaU,
Isaac H. Clothier,
Thos. DeWItt Cuyler,
C. Hartman Kuhn,
James Speyer,
B. Dawson Coleman.
Broad and Chestnut Streets,
BUSINESS TRANSACTED.
DIRECTORS.
John I. Beggs. President Milwaukee Light Heat A
Traction Co.
Wilbur F. Boyle, Boyle & Priest.
James E. Brock, Secretary.
Murray Carleton, President Carleton Dry Goods Oo.
Charles Clark.
Horatio N. Davis. President Smlth&Davls Mfg.Co.
John D Davis, Vice-President.
Auguste B. Ewing.
David R. Francis, Francis, Bro. & Co.
August Gehner, President German-AmerlcanBank
S. E. Hoffman, Vice-President.
Breckinridge Jones. President.
Wm. G. Lackey, Vice-President and Bond Offloer
W. J. McBride, v.-Pres. Haskell & Barker Car Oo
Nelson W. McLeod, Vice-President GraysonMcLeod Lumber Co.
Saunders
®0tl 0U.
Geo. H. M9Fadden &
COTTON MERCHANTS
Brov
NEW YORK.
Liverpool CorrespondentsFREDERIC ZEREGA & CO.
Bremen Correspondents:
MCFADDEN BROTHERS & CO.
Havre Correspondents:
SOCIETE D’IMPORTATION ET DE COMMIS’N
Mason Smith & Co.,
OTTON
COMMISSION MERCHANTS
CAPITAL
SURPLUS
ORLEANS LA.
DALLAS, TEX.
3,000,000
August Schlafly, August Schlafly & Sons.
R. H. Stockton. President Majestic Mfg. Co.
of North America
503-505-507 Chestnut St.. Philadelphia
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice-President
Ward E. Smith, Treasurer
Chas. H. Manchester, Secretary
H. Howard Pepper, Asst. Secy.
Frederick B. Wilcox .Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N. Fenner
J. Milton Payne
Olney T. Inman
William
R. Dupee
Richard A. Robertson
Joshua M. Addeman
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
George F. Baker
George M. Thornton
Cyrus P. Brown
Chas. C. Harrington
Louis H. Comstock
Eben N. Littlefield
Otis Everett
C. Prescott Knight
Jesse H. Metcalf
John J. Watson Jr.
Charles H. Allen
John B. Branch
William P. Chapin
.
Angus McLeod
Ezra Dixon
Howard O. Sturgis
Edward D. Pearce
Englehart C. Ostby
Orders for Contracts Exe¬
New York,
Liverpool and Havre Markets.
CENTRAL
TRUST COMPANY
R. H. ROUNTREE & CO,
OF ILLINOIS
Commission Merchants.
Orleans,
CHICAGO
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON
EXCHANGE BUILDING.
NEW YORK.
GWATHMEY &. CO.
COTTON MERCHANTS
22
Exchange Place,
MEW YORK
-
ROBERT MOORE & CO.
56 Beaver Street, New York.
ORDERS FOR FUTURE DELIVERY EXE-
EXCHANGES.
YORK
AND
LIVERPOOL
OOTTON PURCHASED FOR SPINNERS’ USE.
NorveU-Shaplelgh
CAPITAL
Buyers of Spot Cotton.
New
President
Rolla Wells.
$3,000,000
MEMPHIS TEAM.
In
Norvell,
Hardware Co.
Robert J. O’Reilly, M. D.
Wm. D. Orthwetn. President Wm. D. Orthweln
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce, Chairman Board Waters-PleroeOllOo.
Julius S. Walsh, Chairman of the Board.
PHILADELPHIA
Cyrus P. Brown, President
Arthur L. Kelley, Vice-President
cuted
i«q Ran non
A GENERAL FINANCIAL AND FIDUCIARY
OFFICERS.
INEW
Stephen M. Weld
Sidney W. Winslow
Providence. R. I.
125th St. & 8th Ava.
PHILADELPHIA.
Galen L. Stone
Nathaniel Thayer
Lucius Tuttle
H. O. Underwood
Eliot Wadsworth
Industrial Trust Company The Trust
Company
55 Cedar St.
B’way & 73rd St.
Frederick P. Fish
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
C. J. RHOADS, 3d VIce-Pres. and Treasurer.
E. S. PAGE, Secretary-
NEW YORK
CAPITAL,
John S. Bartlett
Samuel Carr
B. P. Cheney
Acts
UNITED STATES
$12,500,000
DIRECTORS.
T. JEFFERSON COOLIDGE JR.. Chairman Executive Committee.
GORDON ABBOTT, Chairman of Board.
FRANCIS R. HART. Vice-Chairman.
Charles F. Adams 2nd
Philip Y. DeNormandie
Henry C. Jackson
Philip L. SaltonstaU
F. Lothrop Ames
George E. Keith
Herbert M. Sears
Philip Dexter
Oliver Ames
Gardiner
M.
Lane
George A. Draper
Quincy A. Shaw
C. W. Amory
Frederic C. Dumalne
Col. Thos. L. Livermore Howard Stockton
William Amory
William Endicott Jr.
Arthur Lyman
Philip Stockton
Charles F. Ayer
Wllmot R. Evans
Charles S. Mellen
Charles A. Stone
Capital and Surplus
-
$2,500,000
CHARLES G. DAWES, President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT, Vice-President.
WILLIAM R. DAWES, Cashier.
L. D. SKINNER, Asst. Cashier.
WILLIAM W. GATES, Asst. Cashier.
JOHN W. THOMAS, Asst. Cashier.
ALBERT G. MANG, Secretary.
MALCOLM McDOWELL, Asst. Secretary.
WILLIAM G. EDENS, Asst. Secretary.
JOHN L. LEHNHARD, Asst. Trust Offloer.
BANKING,
SAVINGS AND TRUST
DEPARTMENTS.
31.000,000
HENRY G. BRENGLE, President.
JOS. S. CLARK, Vice-President.
CHAS. P. LINE AWE AVER. Sec. & Treas.
ADAM A. STULL, Chairman of Board.
*
DIRECTORS.
Henry G. Brengle.
James Crosby Brown.
John Cadwalader,
E. W. Clark Jr..
Eckley B. Coxe Jr.,
Edwin S. Dixon;
Eugene L. Ellison,
Joseph C. Fraley,
Harry C Francis,
Henry L. Gaw Jr.,
Howard S. Graham.
J. Levering Jones,
Malcolm Lloyd,
John Mcllhenny,
Richard Wain Melrs.
Clement B. Newbold.
John W. Pepper, "
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. Wainwright.
William D. Wlnsor.
Samuel F. Houston,
Rhode Island Hospital
Trust Company
PROVIDENCE, R. I.
CAPITAL
SURPLUS
$2,000,000
$2,000,000
DIRECTORS.
Royal C. Taft,
Robert H. I. Goddard,
Robert I. Gammell,
William B. Weeden,
Edward D. Pearce,
Robert Knight,
John W. Danielson,
Herbert J. Wells,
Lyman B. Goff,
Howard O. Sturges,
Stephen O. Metcalf,
Walter R. Callender,
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson:
John R. Freeman,
Charles S. Mellen.
Robert W. Taft,
Rowland G. Hazard,
Webster Knight,
Nelson W. Aldrich,
Stephen O. Edwards,
Samuel R. Dorranoe,
Frank W. Matteson,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL, Secretary.
PRESTON H. GARDNER, Trust Ofboet.
CYRUS E. LAPHAM, Asst. Seo’y.
JOHN E. WILLIAMS, Asst. Sec’y.
HENRY L. SLADER, Asst. Seo'y.
G. A. HARRINGTON. Asst ,Tr.Off!
THE CHRONICLE
XY1
[VOL. LXXXXI
gfivumcial.
fpnanxial.
©jcrttou.
WOODWARD
& STILLMAN
E. H.ROLLINS & SONS
COTTON MERCHANTS
Fversz a Company
16 to 22 WILLIAM STREET,
BANKERS
NEW YORK
Negotiate and issue Loans for Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable for
▲MBBXCAN COTTON OP ALL GRADES SUIT¬
ABLE TO WANTS OP SPINNERS.
Established 1876
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Investment.
Established In 1856.
Henry Hentz & Co.
206
LAlSALLE ST, CHICAGO
Fiscal Agent for Cities
COMMISSION MERCHANTS
16 to 22 William Street, New
List
York.
Execute Orders for Future Delivery
COITON
At the New York. Liverpool and New Orleans
Cotton Exchanges. Also orders for
COFFEE
At the New York Coffee Exchange
GRAIN AND PROVISIONS
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. & Co.
COFFEE EXCHANGE BUILDING
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
NEW YORK
COTTON MERCHANTS
on
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
PEABODY, HOUGHTELING & GO.
181 La Salle Street,
Cotton
CHICAGO.
Consignments.
F. H. PRINCE & CO.
BANKERS
[Established 18654
Hopkins, Dwight & Co.
BOSTON, MASS.
COTTON
and
COTTON-SEED OIL.
GEO. H. BURR A CO.
COMMISSION MERCHANTS
BANKERS
Room 52 Cotton Exchange Building,
NEW YORK.
LEHMAN. STERN A CO.. Limited. New Orleans,
LEHMAN BROS.
Nos. 16-22 William Str«et. New York.
Members of the Stock, Cotton, Coffee
end Produce Exchanges, New York.
Commercial
43
Exchange Place
Paper
New York
Stephen M. Weld & Co.,
HIGH-GRADE INVESTMENTS
Members of New York and Boston Stock Exchangee
Chicago
Boston
St. Louis
Philadelphia
Kansas City
San Francisco
Orders executed on the above Exchanges, as well In
New Orleans. Chicago and foreign markets.
£?7Vu&i<&e&Aw0rf8c:
Sullivan Brothers & Co.
BONDS
Municipal and Corporation
COTTON MERCHANTS,
First National
82-92 Beaver Street, - New York City
BOSTON, PHILADELPHIA, PROVIDENCE
Chicago
Bank Bldg.
BONDS
CVALvAAj
111 Broadway
New York
„
CHESTNUT
50 Congress St.,
Boston
Members
Bremen. ALBRECHT. WELD & CO.
Siegfr. Gruner & Co.
COTTON MERCHANTS
Street,
RAY
GEO
COPELAND & CO..
COTTON BROKERS.
48 Cotton Exchange.
New York.
Orders for future delivery contracts executed on
the New York and Liverpool Cotton Exchanges.
SMITH &, HAYNE
Frank B. Haync (In Commendum)
Cotton Brokers,
COTTON EXCHANGE BUILDING.
NEW
I Philadelphia
Stock Exchange
“
[Established 1868.1
MUNICIPAL & COR¬
PORATION BONDS
W. T. HATCH
SONS
BANKERS AND BROKERS
182 LA SALLE
STREET,
CHICAGO
71
Broadway,
-
Now York
MEMBERS OF
NEW YORK STOCK EXCHANGE.
CO.
Successors to
STREET
Chas. S. Kidder & Co.
NEW YORK.
WILLIAM
—-i
PHILADELPHIA, PA.
Liverpool, WELD & CO.
17 South William
Application
SEND FOR CIRCULARS.
HANOVER SQUARE.
Liberal Advances Made
on
and Corporation*
Devitt, Tremble & Go.
HOLLISTER, FISH & CO.
BONDS FOR INVESTMENT
BANKERS
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHILA. NATIONAL BANK BLDGPHI LADELPHIA
Members New York Stock
Exchange
Investment Securities
Nassau A
Pina
Streets, N. Y,
ORLEANS, LA.
ORDERS FOR
FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS. NEW YORK
AND LIVERPOOL MARKETS.
(Other cotton cards
on
preceding oage.)
Dominion & DominicK
H. T. HOLTZ & CO.
115 BROADWAY
Members New York Stock Exchange.
Hitratuctal.
MUNICIPAL AND
FIRST NATIONAL BANK
CORPORATION BONDS
United Bank Note Corporation
Stocks
RICHMOND. VIRGINIA
Capital and Earned Surplus,
-
$2,000,000
Correspondence Invited
JOHN B. PURCELL. President
JOHN M. MILLER JR., V.-Prest. & Cashier
FREDERICK E. NSLTING, 2d Vlce-Prest.
Correspondence[Invited
171 LA SALLE
STREET, CHICAGO
DICK BROTHERS
CO.
BANKERS AND BROKERS.
80 Broad St..
New York.
Members of N. Y. and Phlia. Stock Exchange*.
New York, New Orleans and Llveroool Cotton
Exchanges, New York Coffee Exchange
and Chicago Board of Trade.
@FedFRASER