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fin a n c ia l T V o n iitm tia IN C L U D IN G Bank & Quotation Section Railway Earnings Section Railway & Industrial Section Bankers’ Convention Section VOL. 89. Electric Railway Section State and City Section SA TU R D A Y , A U G U ST 14 1909. %\vt (K lx r m ix c le . Week ending August 7. Clearings at — PUBLISHED W E E K L Y . 1908. Terms of Subscription— Payable In Advance F o r O n e Y e a r ........................................................................................................... ............ $ 1 0 0 0 F o r S i x M o n t h s ............................................................... M L .................. "(5 /M 0 01 E u r o p e a n S u b s c r ip tio n ( in.........—p c lu d in g rpro....... s ta g........................................................ e^ . 13 00 >pean S u b s c r ip tio n si x m o n th s ( in c lu d in g p o s t a g e ) .............................. 7 50 n n u au li R S uubusK c riiim ip tio n in xAv.ii.u vu ... I..o n d o n ( in c lu d in g p o s t a g e ) ...................................£ 2 U s . S i x M o n th s S u b s c r ip tio n in L o n d o n ( in c lu d in g p o s t a g e ) . £ 1 11 s. C a n a d ia n S u b s c r ip tio n ( in c lu d in g p o s t a g e ) ........................................................ $ 1 1 5 0 S u b s c r ip tio n in c lu d e s fo llo w in g S u p p le m e n ts — R in k an d QUOTATION (m onthly) I st a t e a n d C ity (sem i-an n ually) K ailw ay and I n d ustr ial (q uarterly) ELKctrio K ailw ay (3 tim es yearly) K ailw ay e a r n in g s (m on thly) | B a n k e r s ’ C o n v e n t io n (yearly) Terms of Advertising— Per Inch Space T r a n s ie n t, m a tte r per in c h space ( 1 4 a g a t e l i n e s ) ...................................... $ 4 20 22 00 ( T w o M o n th s (H t i m e s ) . . . . . .. . . . . . . 20 00 ‘S t a n d in g B u s in e s s C ards ' M o n th s ( 1 3 t i m e s ) ........................ 5 0 00 . i S ix M o n th s (2 0 t im e s ) ......................... 87 00 I T w e lv e M o n th s ( 5 2 t im e s ) .......................................... C H I C A G O O F F I C E —P . B a r t l e t t , 5 1 3 M o n a d n o e k B lo c k ; T e l. H a r r is o n 4 0 1 2 . L O N D O N O F F I C E —E d w a r d s & S m it h , 1 D r a p e r s ’ G a r d e n s, E. C. W IIjL IA R i B . D A N A C O M PA N Y , P u b lis h e r s, P . O. B o x i ) 5 S . F r o n t . P i n e m id O e p c y s t e r S t s . , N ew York. P u b lis h e d e v e r y S a tu r d a y m o r n in g b y W I L L I A M B . D A N A C O M P A N Y W illia m B . D a n a , P r e s id e n t ; J a c o b S e ib e r t J r . , V lc e -P r e s . a n d S e c .: A r n o ld G . D a n a , T r e a s . A d d r e s s e s o f a ll,O f fic e o f t h e C o m p a n y . C L E A R IN G - H O U S E R E T U R N S . The following table, made up by telegraph, &c., indicates that the total bank clearings of all clearing houses of the U.S. for week end. Aug. 14 have been $2,996,202,902, against $3, 259,046,061 last week and $2,492,222,748 the week last year. Clearings -Returns by telegraph A ug. 14. 1909. 1908. % Philadelphia B altim ore . . . C h ic a g o _____ S t. L o u i s _____ New O rleans . . $ 1 ,5 5 5 ,5 0 4 ,0 5 3 121,993,137 101,875,370 2 2 ,2 3 3 ,4 1 8 21 3 ,9 8 2 ,3 7 5 52,8 8 3 ,8 0 8 12,623,142 $ 1 ,3 0 0 ,2 5 3 ,6 2 8 117,191,487 81,7 8 9 ,5 4 7 18,183,701 1 81,088,945 5 3 ,3 7 2 ,2 1 0 9 ,3 2 9 ,8 0 0 + 19.6 + 4.1 + 24.6 + 2 2 .2 + 18.2 — 0.9 + 3 5 .3 Seven cities, 5 d a y s . O th er cities, 5 days . . $ 2 ,0 8 1 ,0 9 5 ,3 0 3 421,2 3 1 ,2 0 7 $ 1 ,7 6 1 ,2 0 9 ,3 1 8 360,4 1 8 ,7 4 3 + 18.2 + 16.9 T otal all c ities, 5 d a y s . All cities, l d a y __ ____ $ 2 ,5 0 2 ,3 2 6 ,5 1 0 49 3 ,8 7 6 ,3 9 2 $2 ,1 2 1 ,6 2 8 ,0 6 1 3 7 0 ,5 9 4 ,6 8 7 + 17.9 + 3 3 .3 S2,9 9 8 ,2 0 2 ,9 0 2 $ 2 ,4 9 2 ,2 2 2 ,7 4 8 + 20.2 N ew York ....... Boston_____ T o lal all cities for w e e k . . . Ti e full details for the week covered by the above will be given next Saturday. We cannot furnish them to-day, clearings being made up by the clearing houses at noon on ♦Saturday, and hence in the above the last day of the week has to be in all cases estimated, as we go to press Friday night. We present below detailed figures for the week ending with Saturday noon, August 7, for four years. Clearings at - N ew Y o r k -. . P h ila d e lp h ia __ P ittsb u rgh .......... Baltim ore ____ B u ffalo................. W ashington .. A lb a n y _____ .. R o c h e s te r .......... S c r a n t o n ............ Syracuse . . ___ W heeling .. W ilm ington W ilkes-Barre . . . H ead in g................. H a r r is b u r g .......... York .................... T renton _______ Erie ........................ B in g h a m to n __ C hester . _______ G r e e n sb u r g .......... A lt o o n a ________ F r a n k lin __ . . . NO. 2303. C h ic a g o ............... C in c in n a ti__ Cleveland . . D e t r o i t .. ............. M ilw au kee_____ Indianapolis . . . C o lu m b u s _____ T o le d o ________ l ’e o r l a _________ Grand R a p id s .. D a y to n ............... E va n sv ille ____ K a la m a z o o ____ Springfield, 111 .. Fort W a y n e __ Y ou ngstow n . . . L e x in g t o n ______ South B en d ____ Q u in c y ................... A k r o n _________ D ecatur . ............ B lo o m in g to n ___ R ockford ______ C an to n ________ _ Springfield. O hio M ansfield.............. D a n v ille ________ J a c k s o n .......... . J ack son ville, 111. Ann Arbor______ Adrian ................. 2 8 1 ,3 2 9 ,5 5 0 2 6 ,9 4 4 ,5 0 0 1 9 ,039,145 Hi,345.151 11,810,593 8 ,8 5 5 ,8 5 2 7 ,4 0 0 ,0 0 0 3 ,7 1 1 ,1 4 8 2 ,8 1 2 ,6 1 6 2 ,7 0 4 ,0 7 7 1,876,961 2 ,1 2 4 ,1 6 3 1 ,402.986 1 ,023,232 1 ,045,795 891,690 6 4 6.426 486,042 639,119 6 2 5,000 553,379 516,256 568.917 706,921 401.920 318,054 368,545 343.918 325,166 172,672 21,828 21 0 .5 8 1 ,8 9 8 2 2 ,5 2 0 ,7 5 0 15,382,852 12,399,065 9,9 9 1 ,2 4 3 7,5 3 6 ,0 2 3 5,0 7 8 ,5 0 0 3 ,6 1 7 ,1 9 6 2,4 3 1 ,6 3 9 2 ,1 0 7 ,8 3 9 1 .475,208 1,726,136 1.078,188 83 0 .0 0 0 772,827 5 3 9,020 550,787 539,458 5 50.000 5 5 0.000 482,162 442,629 , 413.826 3 8 0 .0 0 0 3 7 5.000 33 2 ,7 9 5 3 26,729 302,681 274,532 123,505 26,348 Inc. or | Dec. I % + 24,1 + 19.6 + 23.8 + 31.8 + 18.3 + 17.5 + 45.7 + 2 .6 + 15.7 + 28.4 + 27.2 + 23.1 + 3 0 .1 + 22.1 + 35.3 + 65.4 + 17.4 — 9.9 + 16.2 + 13.6 + 14.7 + 16.6 + 3 7 .5 + 86.0 + 7 .2 — 1.4 + 12.8 + 13.6! + 18.4 + 39.7 — 17.2 $ 22 2 .6 5 2 ,6 5 2 2 5 ,1 4 2 ,1 5 0 15,904,289 1 4 ,792,240 10,050,314 9 ,2 6 2 ,1 0 0 5,7 5 2 ,7 0 0 4,578,361 2,581,7851 2,3 1 3 .5 3 4 2 ,1 4 2 ,9 9 9 1,967,389 1,045,728 9 36,769 8 1 3,160 676,841 720,927 568,553 4 3 7,919 684,850 438,531 417.879 561,793 405,822 496,708 3 2 3,026 195,9 8 3 ,347 2 2 ,4 3 1 ,9 0 0 14,4 2 4 ,400 14,7 8 6 ,684 8 ,8 7 3 ,007 7 ,8 2 6 ,3 7 6 5 ,2 2 8 ,2 0 0 3 ,7 2 0 ,8 8 0 2 ,3 7 9 ,105 2 ,1 4 0 ,8 2 2 1 ,676.43S 1,6 0 5 ,276 956,874 7 7 8 ,3S9 744,866 550,925 561,521 434,133 3 4 6 ,010 5 8 4,105 30 5 ,520 3 3 7 ,12S 552,407 423,912 3 4 5,455 30 5 ,448 3 0 0,000 213,599 187,619 28,000 178', 196 3 1 3,639 123.8S0 T o t. Mid. W est 3 76,017,622 303,7 4 4 ,8 3 6 + 23.8 32 6 ,3 9 8 ,2 3 7 2 8 8 ,9 1 8 ,842 San F r a n c is c o ... Los A n g ele s____ S ea ttle _______ P o r t la n d ______ S p o k a n e ............... Salt Lake C lty . T a c o m a _______ 35,9 4 6 ,2 4 4 14,944,665 11,336,530 7 ,359,707 7,0 0 0 ,0 0 0 6,641 J 0 8 5,5 0 6 ,4 6 0 2,0 8 7 ,1 5 9 1,162,000 789,912 1 ,087,000 507,238 742,235 757,617 570.000 427,712 334.000 242,64" 34,427,781 9 ,124,958 8 ,0 5 0 ,8 9 8 5,6 6 3 ,5 7 6 6,1 0 6 ,3 3 8 5,0 9 4 ,1 3 9 3 ,8 8 7 ,9 4 6 1.546,039 875.000 789,912 788.000 547,323 519,882 502,428 470.000 445,596 222,554 262,057 + 4.4 + 6 3 .8 + 40.8 + 29.9 + 14.6 + 3 0 .4 + 41.6 + 3 5 .0 + 32.8 + 17.0 + 3 7 .9 — 7.3 + 42.8 + 50.8 + 21.3 — 4.0 + 5 0 .1 — 7.4 4 1 ,0 5 4 ,1 2 0 11,1 0 7 ,4 0 2 9 .8 6 8 ,3 8 7 6,8 6 0 ,4 5 7 5 .7 4 4 ,6 6 4 6,129,641 4 ,8 0 3 ,7 5 8 2 ,4 6 1 ,1 8 5 3 8 ,4 9 3 ,6 7 0 1 0 ,452,249 9 ,0 6 3 ,7 9 5 5 ,2 1 2 ,9 5 5 3 ,6 2 1 ,3 0 7 4 .4 2 6 ,9 4 0 3 ,5 7 2 ,1 3 3 3 ,4 1 2 ,5 7 1 932,795 7 2 0.764 525.000 565,267. 577,341 560.000 397*577 7 9 ,324.427 + 2 3 .0 9 1,190,107 8 0 ,2 7 6 ,575 35,0 3 7 ,4 3 7 + 27.3 15,158,671 + 4 .3 10,777,425 + 18.6 9,6 9 9 ,5 8 6 + 3.1 9,0 9 0 ,1 5 6 + 1.3 4,735,571 + 5 .6 2 ,579,764 + 26.2 1,869,250 + 29.1 1,394,255 + 130.1 1,208,931 + 24 .6 1,067,470, +_____ 32.3 1,041,240 + 4 1 .0 8 2 6,775 — 8.4 7 1 9,865 + 2 6 .9 494,435' + 1 .8 4 0 3,059 — 9 .0 N o t Included In to ta l 31,0 0 8 ,5 6 7 19,157,341 1 0 ,242,935 8 ,4 5 0 ,5 6 2 7 ,421,311 4,8 3 1 ,8 1 5 2 ,757,664 1,751,426 1,325,811 1,033,368 1,057,075 1,102,347 565,924 566,061 462,055 422,650 27,7 0 0 ,453 1 6 ,532,465 8 ,8 8 9 ,0 7 0 7 ,1 4 2 ,3 3 0 5 ,3 8 5 ,6 8 5 4 ,0 2 8 ,122 2 ,4 1 1 ,2 6 2 1,5 5 4 ,895 1 ,364,887 1 ,1 3 2 ,740 776,543 9 3 4,163 72 1 ,378 428,017 498,341 3 1 2,904 O a k l a n d . ............ S a c r a m e n to .. H elena _____ San D ie g o ........... San J o s e .......... ....... S tockton ............... Fargo _________ Sioux F a l l s _____ Fresno .................... N orth Y ak im a . . B illin g s ________ T otal P a c ific .. K ansas c i t y ____ M inneapolis.......... O m a h a .................... S t. P a u l . . . ' . ____ D e n v e r ................. S t. J o se p h ............. D es M oines_____ Sioux C ity ............. W ic h it a ________ L in c o ln ________ D av en p o rt______ T o p e k a .......... ....... < (dorado Springs Cedar R a p id s___ P ueblo _____ F r e m o n t ____ D u lu th _________ 9 7 ,577,026 44,597 15,812 12,784 9,997 9,200 5,000 3 ,255 2 .412 3 ,208 1,505 1.412 1,468, 757, 913, 503, 366, 2,308, 481*5§4 42 1 ,030 T o t.o th cr W est 113,195,945 9 6 ,1 0 3 ,8 9 0 + 17.8 92,1 8 1 ,9 1 2 7 9 ,8 1 3 ,2 5 5 S t. L o u is............. N ew O rleans__ L o u is v ille .......... H o u s t o n ............... G a lv e s to n ______ Richm ond _____ Fort W o r th .. . . . A t l a n t a ................. M e m p h is............... N ashville ............ Savann ah ______ N o r f o lk ................. B ir m in g h a m ____ .J a ck so n v ille ____ C h a t t a n o o g a ___ M o b ile .................... A u g u sta ................. K n o x v ille ............. L ittle lto c k _____ C h arleston______ O klahom a ............ B eaum ont .......... M a c o n __________ A u s t i n .................... V ic k sb u r g ______ 6 2,512,659 14,032,005 11.579.053 9 ,7 3 1 ,3 1 0 4 ,3 6 3 ,5 0 0 6 ,518,824 5,5 8 9 ,8 2 6 •5 ,9 1 9 ,7 2 5 4 ,127,139 3 .8 0 0 .0 0 0 2 ,769,043 2,6 0 5 ,9 5 8 1.742,833 1.483,935 1,358,488 1,320,809 1,346,46" 1,535,299 1,586,034 999,147 1 .650.000 667,163 749,225 566,929 248,482 60,4 9 3 ,5 5 9 10,588,704 13,739,797 9 ,1 9 1 ,7 8 6 4 ,9 5 3 ,0 0 0 5 .3 1 3 ,8 7 5 4,6 8 0 ,7 6 9 3,4 0 7 ,9 2 4 3 ,2 6 8 ,7 2 2 2,8 9 4 ,1 6 5 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 1,104,976 645,871 514.958 362,846 270.428 + 3.3 + 3 2 .5 — 15.7 + 5.9 — 11.9 + 22.7 + 19.4 + 7 3 .7 + 26.4 + 3 1 .3 52,3 2 2 ,7 4 9 14,223,998 12,729,311 9,912,701 4 .147.000 5.4 0 0 .0 0 0 3 .2 0 0 ,8 3 8 3,5 3 8 ,4 4 3 3 ,5 4 5 ,7 5 8 3,9 5 1 ,3 6 1 2.7 0 5 ,8 1 3 2 ,464,683 2.1 3 6 ,7 5 4 1,406,463 1,8 0 1 ,8 1 0 1,523,603 1 ,068,788 1 ,463,589 1 ,110,429 93 2 .0 0 0 945,787 506,993 5 0 0.000 48,0 7 5 ,903 13,692,964 11,015,803 9 ,2 8 0 ,9 0 2 5 .1 4 9 .0 0 0 5 .5 5 0 .0 0 0 2 ,609,661 3 ,4 8 1 .6 52 2 ,9 3 9 ,1 6 2 3 ,3 2 1 ,9 6 0 3 ,0 2 8 ,3 57 2 .1 3 0 ,1 5 2 1 ,8 8 0 ,5 36 1,2 3 2 ,4 59 1,193,837 1,627,509 940,382 1,1 6 1 ,4 0 3 961.311 938,003 606,453 31 0 ,0 00 467.311 148,803,853 135,449,863 T otal Southern T otal a l l _____ + 10.1 + 38.9 + 4.5 + 0.7 + 5.4 + 2.1 + 17.6 + 15.8 + 49.4 — 1.9 + 49.3 + 3 3 .0 + 45.5 + 56.2 — 8.1 131,538.871 3 ,2 5 9,946,061 2 ,5 4 2 ,8 6 4 ,9 6 5 O utside N . Y . 1,185,470,101 1 20.988.267 2 ,6 3 5 ,2 8 7 ,7 6 6 2 ,5 7 9 .1 4 7 ,6 3 4 9 83,352,987 1,033,036.587 9 4 0 ,9 1 6 .3 5 4 B oston ................. P r o v id e n c e .......... H a r tfo r d ............... N ew H a v e n .......... Portland S p r in g fie ld ............ W o r c e s te r ............ F all K lver............ N ew B e d fo r d ___ H olyoke ............... Low ell M o n tre a l.......... .. Toronto ............... W in n ip e g ............ V an co u v er______ O t t a w a ................. Q u eb ec................... H a l i f a x ................. S t. J o h n ................. H a m ilto n .............. C a lg a r y .......... ...... London ________ V ictoria _______ E d m o n to n ............ 32,903,036! 24,689.964 11,217,865: 5,016,427 2.7 0 0 ,3 3 0 2,722,973 2,211,136. 1,508,178! 1,647,194 1,931,947; 1,161,981! 1,170,403 1,172,227 2 6 ,465,714 19,774.691 9 ,7 1 8 ,7 5 3 3 ,5 5 1 ,0 2 6 2 ,546,561 2 ,1 5 8 ,0 0 0 1 ,865.339 1.620,136 1,2 6 5 ,6 9 0 1 ,198,708 1 ,153,964 911,504 791,997 29,7 7 3 ,0 7 6 20,1 1 6 ,0 5 3 1 1 ,200,410 3 ,9 8 4 ,0 3 0 3 ,2 3 5 ,9 4 0 2 .2 2 5 ,5 0 2 2 ,0 0 6 ,8 9 4 1 ,7 2 1 ,2 3 0 1,610,852 1 ,468,766 1 .370.112 1,2 2 1 ,5 7 0 1,026,001 2 8 ,5 9 3 ,0 37 19,304,171 8 .8 6 4 ,9 5 3 2,8 1 2 ,2 47 2 ,6 0 3 ,7 35 1 ,826,140 2 ,0 5 2 ,3 79 1,288,373 1,281,507 9 9 1,678 1,0 9 8 ,2 40 7 98.234 726,954 T otal N ew Eng T ota l Canada. 90,053,661! 7 3 .0 2 2 ,0 8 3 80,9 6 0 ,4 1 6 7 2 .2 4 2 ,6 1 8 T otal M id d le .. Canada— + 23.3 population—that the ordinary citizen or business man THE FINANCIAL SITUATION. need give himself no concern regarding the matter. Now that the Corporation Tax law is on the Federal But that is just where the average man will find that statute books, the work of granting authority to Con he is seriously mistaken. A general income tax must gress to levy a general income tax, so that the private by its nature be general. No doubt Alabama, in citizen can be mulcted annually the same as corpora giving unanimous endorsement to the idea, imagines tions, proceeds apace. Alabama is the first State to that the large incomes which it is proposed to reach ratify the proposed Constitutional Amendment under have their situs in the North and East, and therefore which the needed authority is to be conferred upon very little, if any, of the tax will fall upon its own citi Congress. The Alabama Senate this week, by an abso zens. But when the Government is in sore need of lutely unanimous vote, accepted the Amendment re money and the Federal tax-gatherers are around, we ferred to, just as the Alabama House last week also may be sure the relatively small hoards in Alabama accepted the Amendment without dissent. It is evi will not be overlooked, but that tribute will be levied dent from the avidity and unanimity displayed that upon them the same as upon the more prosperous the whole body of Alabama legislators thinks it will States to the North and East. We know it will be urged that Congress will see to it be a good thing to confer upon the Federal Govern that the tax is not made to apply to incomes only ment the right to levy a tax upon all classes of incomes, moderate in extent. We have no doubt ourselves whether from business, or from investment, or from that in the enactment of the law which is to give any other source, and whether of the individual, the effect to the powers to be conferred by the proposed partnership, the corporation, the joint-stock associa Constitutional Amendment, Congress will set some tion or some other human agency. In Congress there minimum limit of income on which the tax is not to was an almost equal degree of unanimity in proposing be levied. But the important fact to remember is the Amendment to the States for adoption. In the that the Amendment itself provides for no such limit. U. S. Senate the vote was absolutely unanimous, not a In the absence of such a provision in the Amendment single Senator being registered against it, and in the there can be no absolute certainty that any incomes House of Representatives the joint resolution proposing whatever, no matter how small, will be permanently ex the Amendment received the overwhelming vote of empt. Supposing, however, that at the outset a limit 318 to 14. should be provided, notwithstanding the absence of a It is amazing what anxious desire there appears to be to give the Federal Government a new taxing power, Constitutional mandate to that effect, the amount of the and what unwonted haste there is to manifest the in limit will be entirely arbitrary and no wage-earner or tention. The possible consequences are entirely lost business man can tell in advance whether he will or sight of. To those who do not understand the motive will not fall within the scope of the law. It is quite that is impelling the movement, this readiness to vote possible that the ordinary individual might sadly a new tax will be looked upon as an absolutely new ex deceive himself in thinking that he would be exempt. perience in Governmental affairs. The taxpayer is Under the Income Tax Law of 1894, which was de not usually anxious to see his tax burdens added to, clared unconstitutional in 1895, the proposition was to and as for deliberately extending an invitation for the tax only incomes in excess of $4,000; but the limit, as tax-gatherer to come along and levy some new taxes, already stated, is a purely arbitrary one—and we may the idea would have to be considered preposterous if take it for granted that in times of declining revenues we were not in this instance confronted by the stern and financial stress the limit would be reduced so as reality. There is only one way in which to explain to bring an increasing aggregate amount of income such a previously unheard of phenomenon. Those within the sweep of the law. In Great Britain the limit of exemption at one time who are speeding the movement along do not under stand its nature and portent, and the general public was no higher than £120, or $600, a year, and in recent has not yet been awakened to its importance and years the average has been£160,or $800, ayear. Con significance. There would be reason enough for op sider what such a limit would mean in this country to posing the movement if there were no other ground of the wage-earning classes; for the income tax of course objection than that pointed out by Justice Brewer— applies to incomes received in the shape of wages and namely that such an important taxing power, if to be salaries as well as income received in the shape of employed at all, should be reserved by the States for profits from business or as a return from investments. themselves, instead of being delegated to the National It is quite possible to conceive that in this country the Government, and that to allow the General Govern limit some time might be as low as $1,000, though ment to assume this function is to deprive the States of possibly not except in case of war. In that event the wage earner would have to pay the tax on any one of their vital substances. This, however, is not a consideration which will wages or income he received in excess of the $1,000. appeal to the general public with the same force and If he happened to be a first-class mechanic earning, readiness as arguments based on purely selfish motives. say, $40 to $50 a week, he would have to pay the The reason why every one is seemingly in favor of the Federal tax on $1,000 to $1,600 a year. Even if the general income tax and no one apparently is voicing limit should be placed at $2,500, large numbers of per opposition to the same is that everyone thinks that sons would become subject to the law who at the the tax will not hit him but will hit some other fellow. present moment undoubtedly entertain the notion There has been so much talk on the part of newspapers that the proposed income-tax amendment is not likely of the Hearst and Pulitzer stripe about the rich not ever to play any part in their own affairs. Another point of objection is not to be overlooked, bearing their proper share of the burdens of life that and that is the rate of the tax. Here, too, the pro the general assumption is that the proposed Federal income tax is meant to reach simply those classes of the posed Amendment prescribes no limit 1 Congress will be at perfect liberty to make the rate as high as it chooses. If the Amendment should be adopted and a law in accordance therewith be placed upon the statute books, it might happen that the rate at the start would be small; but we may be sure that as the Government’s needs increased under the pressure of growing appropriations, the rate would be constantly raised. The Corporation Tax Law just passed pro vides for a tax of only 1%, but in the United Kingdom the income tax has in recent years averaged fully one shilling to the pound, which is 5%, and has on some occasions run still higher. If the tax were only 1%, a man who had to pay on an excess income of SI,000 would be taxed $10 a year, and if he had to pay on $5,000 the annual tribute would be $50. On the other hand, if the rate were 5% the annual payment required would be $50 even on an excess income of only $1,000, and it would be $250 on an excess in come of $5,000. If a man had business profits of $20,000 a year and the rate were 5%, he would have to hand over to the Federal Government $1,000 every twelve months. Why should our citizens be so indifferent to these possibilities? Why should they deliberately invite be ing called upon to pay annual tributes of this nature and extent to the Federal Government, thereby fostering reckless and extravagant expenditures and appropriations? Is there not need of a campaign of education with respect to this proposed income tax Amendment and is it not time for intelligent citizens to combine and thwart the attempt before the Amend ment has been irrevocably attached to the framework of the Constitution? Unless this is speedily done the tax-gatherer’s noose will be so tightly fastened upon the necks of the citizens that there will be no means of es cape. The Connecticut Legislature has done wisely in postponing consideration of the Amendment until 1911. We are not among those who believe that the public weal is likely to be endangered by the forced retire ment of Congressman Charles N. Fowler from the Chairmanship of the Committee on Banking and Cur rency of the House of Representatives. The news papers tell us that in removing Mr. Fowler from the Committee, Speaker Cannon was actuated by personal motives and that his purpose was to visit punishment upon Mr. Fowler for opposing the Speaker’s renomina tion and otherwise antagonizing him. We prefer to think that the step was taken in the public interest. It is well known that with tariff legislation out of the way banking and currency legislation is to receive prime consideration at the hands of Congress. In these circumstances the work of the Banking and Currency Committee of the House of Representative becomes of the highest importance. With Mr. Fowler remaining at the helm an obstacle would exist to new legislation which it would be difficult to overcome. In making this statement, we do not wish to be under stood as saying anything in disparagement of Mr. Fowler himself. He has undoubtedly made a long study of banking and financial matters, though ob viously he is not the only man in Congress distin guished in that way. But the fact is he is so strongly wedded to his own ideas that he cannot see any merit in the ideas and arguments of others. At every session of Congress he has his own bill for the renovation and reconstruction of the country’s financial mechanism, and is blind to all other measures of reform. The fact that he is of a self-assertive tem perament and unable to brook opposition on the part of opponents does not improve matters. Finally, he has in recent years been indulging in a number of vagaries which it is difficult to explain. Among these may be mentioned the provision in his bill of last ses sion for a guaranty fund for the guaranty of bank deposits, his attempt to launch the Federal Govern ment in the trust company and savings bank business, and his later suggestion that the Federal Government should supervise and regulate all classes of banking institutions, including those chartered by the States as well as by the United States. We have never questioned the sincerity or disinterestedness of his motives, but if there is to be banking and currency legislation by the present Congress, it is best that Mr. Fowler should no longer exercise control over the com mittee in the Lower House, to which all propositions for legislation of that character must in the first in stance be referred for consideration. The favorable feature in this month’s statement of the Copper Producers’ Association is the growth which it apparently reveals in the domestic consumption of the metal. We do not attach much significance to the large exports, because statistics from abroad show that these foreign shipments only in part go into con sumption, the rest representing purchases made by foreign buyers with the idea that the metal at present prices is cheap and therefore will pay to hold. That this is an accurate statement is evident from the steady increase, month by month, in the foreign visible sup ply of copper. The expansion in the domestic deliv eries of the metal, however, may reflect a revival in the home demand for copper under the stimulus of general business activity. In that sense they would be an encouraging circumstance of the highest import ance. The Copper Producers’ Association places the deliveries for domestic consumption during July at 75,520,083 lbs., against 60,591,116 lbs. in June, 61, 163,325 lbs. in May and 47,546,010 lbs. in April, thus reflecting noteworthy expansion. The month’s ex ports are placed at a nearly equal amount, or to be ex act, at 75,018,974 lbs., which also is in excess of that of any other month in the year. But, as already stated, there has been coincidently a further large addition to the foreign visible supply, indicating that the for eign shipments have not gone into consumption. Altogether, exports and domestic deliveries com bined during the month were 150,539,057 lbs. The month’s production, though close to the very largest monthly figure ever reached, was only 118,277,603 lbs. As a consequence there was a decrease in the domestic stocks of marketable copper during July in amount of 32,261,454 lbs., following smaller but very respect able decreases in June and May. Accordingly, domes tic stocks are now down to 122,596,607 lbs., against 183,198,073 lbs. at the end of April, and comparing with 122,357,256 lbs. on Jan. 1. In other words, in the matter of these home stocks of the metal we have got back to the point where we started when the year began. Unfortunately, the foreign visible supply in the same interval has tremendously increased, for the reason already given. Between Jan. 1 and July 1 this foreign visible supply ran up from 55,677 tons to 67,379 tons, and during July there was a further in- month, in case their liabilities on current deposit accounts exceed, in all, the sum of £10,000,000 and once in every three months in all other cases, make a statement of their position showing the average amounts of liabilities and assets, on the basis of weekly balance sheets, for the preceding month or three preceding months respectively.” Inasmuch as pub licity of banking conditions was regarded by the critics of the methods then in vogue as essential to the maintenance of confidence in the institutions, such recommendation should, it would seem, be complied with. The Commission further recommends that certain of the above-noted amounts should be shown separately—“Liabilities on current deposit and other accounts; liabilities or notes in circulation; liabilities on bills accepted; gold and other coin and gold bullion held; Bank of England notes held and balance due by the Bank and balance due by clearing agents.” It is also recommended that “a copy of the statement should be put up in a conspicuous place in every office where the business of the persons or company is carried on.” One of the London financial journals, in commenting upon the above report, says: “We are immediately concerned with the gold reserve. It will be noticed that the recommendation specifies gold and other coin as well as gold bullion. There can be little doubt that A highly interesting and important report appears in if the recommendation is acted upon in the right spirit the London financial journals of July 31, recording it will secure the keeping in the future of adequate the conclusions reached by the Gold Reserve Committee gold reserves. Some of the banks already keep such of the London Chamber of Commerce, which was reserves and have been gradually adding thereto. appointed Feb. 13 to consider the question of gold These banks will probably continue the policy they reserves of the banks. It will be remembered that, as have already initiated. Indeed, since they recognize, the result of the criticism which was evoked in business without compulsion, the necessity in the present circles and in the London press early in the year, and, condition of the world for the keeping of gold reserves, indeed, for some time previously, caused by what was it is to be presumed that when the balance sheets are alleged to be the insufficiency of the gold reserves of the published setting out their gold holdings, these banks London joint-stock banks, some of the more prominent will take care that the reserves will be greatly increased of these institutions voluntarily took measures to as the state of the market allows. Moreover, if these reinforce their reserves and imported from New York banks are able to show adequate reserves, every other about 14 millions of American gold coin for this pur bank will be stimulated to make as good a showing, and pose. It was represented that this reinforcement thus in a very little while we may reasonably antici of reserves was in anticipation of an official inquiry by pate that the gold reserve held will be adequate.” the Government regarding the reserve condition of the One incident of the week was the transfer through Bank of England and of the private metropolitan the Treasury of $2,000,000 gold hence to San Fran banks; hence, the quite general action, as above noted, cisco, whence it will be shipped to Yokahama, Japan. to, in a measure, forestall the official inquiry. In noting a like movement last week, when $1,000,000 The first of the importations of gold was in the form was transferred, we said that the credits which had of commercial bars; $1,500,000 of such gold was accumulated in London, as the result of investment shipped hence to London March 9, as was then noted purchases at that centre of Imperial Japanese internal by the “Chronicle.” Later exports consisted of bonds, originally amounted to 15 million dollars. American gold coin and it was stated that part was for This sum has now been reduced (through withdrawals in the account of the Bank of England and the larger June of $1,250,000, last week of $1,000,000 arid this portion was distributed among the principal private week of $2,000,000) by 4% millions, leaving still to be banks; the movement ceased a£ suddenly as it had withdrawn and transferred to Japan 10% millions. begun, and by the end of March, apparently, all requirements for the purpose of establishing reserves As the movement was made necessary, or desirable, had been satisfied. It is noteworthy that the Bank because of requirements incident to the financing of of England official rate of discount was reduced from the Japanese silk crop, possibly such requirements 3% to 2%% April 1, probably because of its improved may soon be satisfied, in which case withdrawals of condition, and also of that of the metropolitan banks these credits will cease, unless, indeed, Japan shall have other home uses therefor. It may be, too, as the result of the reinforced reserves. Among the recommendations made by the above- that the condition of exchanges at Japan or at New mentioned committee in its report, those which are York on London will soon be such as to make a further regarded as most important are “that all persons or movement of gold of this character unprofitable. Exports of gold hence to Argentina on London ac companies carrying on the business of banking within the United Kingdom should once in every calendar count have apparently ceased as the result of the de- crease of 9,180 tons, bringing the amount Aug. 1 up to 76,559 tons. Expressed in pounds, the foreign visible supply on Aug. 1 was 171,492,160 lbs., against only 94,380,160 lbs. at the corresponding date in 1908 and but 28,911,680 lbs. at the same date in 1907. Taking into consideration, therefore, this foreign supply, the aggregate of copper in sight is still of very large magni tude. The domestic stocks, we have seen, are 122, 596,607 lbs. These figures, however, relate only to the stocks of refined copper. According to the United States Geological Survey, there was on Jan. 1, in addition to the stocks of refined copper, blister copper and material in process of refining to the amount of 234,013,843 lbs. Assuming that this stock of copper in process of refinement was no higher Aug. 1 than it had been Jan. 1, and adding to it the 122,596,607 lbs. of marketable copper reported on hand in this country by the Copper Producers’ Association, and the 171,492,160 lbs. of visible copper reported abroad on the same date, we get a grand aggregate of copper in sight of 527,102,610 lbs., entirely independent of the stocks of the metal carried by consumers and brokers. Even if domestic deliveries should continue at last month’s rate, it would take quite a number of months to get the aggregate down to normal figures again. garded as sufficient in view of the assurance of the protecting Powers that they will intervene if the Cretans persist in provocative policies. Later advices from various European capitals, however, indicate that the Turkish note in reply to that of Greece will be in the nature of an ultimatum, which may, it is re ported, provoke hostilities. A Malta cable on Fri day announced the departure of a British battleship for Crete. It is understood that the other protecting Powers—Russia, Italy and France—will also send warships as an intimation to Cretans that these Powers Costa Rica, which has heretofore effected its bor will enforce respect for Turkey’s rights. rowing in London, has been negotiating, as is reported, with success, through a New York banking and com The bill to establish a Utilities Commission, which mercial house, a loan for 1334 million dollars, repre lately passed the Connecticut Senate by a very small sented by 5% fifty-year bonds, at about 78. It is majority, was indefinitely postponed by the lower expected that the Costa Rican Congress will promptly branch of the Legislature on Tuesday. It was ratify the contract. advocated two years ago by Gov. Woodruff, but the Somewhat disquieting reports were cabled from Mad bill which has now failed fell short of his ideas. Per rid and Melilla this week. It was at first stated that haps because the people of Connecticut have not the Spanish commander at Melilla was completing become exasperated against railroads, it did not preparations for a concerted attack upon the Moors at attempt to bring either steam or electric roads under Mount Guruga, their stronghold. Later cables an the proposed control, confining itself to other so-called nounced that the Moors were operating against the utilities. It also failed to provide against over Spanish garrison at Penon de la Gomera, a fortified capitalization after the manner of the New York island of Spain on the coast of Morocco, eighty miles model, and it specifically authorized “the issuing of from Ceuta; the Moors were also, it was stated, actively stock for the improvement of the service rendered.” engaged against the Spanish at three points along the The object stated here is obviously broad, and there coast. They had an army of 50,000 men, with artil is no good reason why improvement of service, by lery, while the Spanish force is not greater than 40,000. extensions or otherwise, should not be covered by A Madrid cable on Friday stated that all the vessels stock issues, since stock is the resource for initiating of the Spanish navy have been ordered to concentrate the service originally. Yet former Governor Woodruff at Melilla to co-operate with General Marina, who is condemns this as authorizing “capitalization of expected to attack the Moors with his army of 38,000 franchises,” and declares that the very purpose of a men. A Ministerial crisis is regarded as possible be utilities commission is to prevent that. cause of strained relations between the Ministers of Our Commission, zealous for its own exaltation, War and of the Interior. It appears that in France has not hesitated to claim credit for transportation much anxiety is felt because of the state of affairs in improvements which are in the natural order and Spain, which is regarded as serious, owing to the neces were in course of evolution before the Commission sity of the Government to take strong measures; con was thought of; yet, while the average citizen would ditions at Melilla may, it is feared, affect those at probably say, if questioned, that it is a useful tiling Algeria, and a large expedition to Morocco will leave to make corporations “sit up,” and that they are not the garrisons of Spain itself weak and renewal of inter likely to be punished too much, we doubt whether nal troubles may have grave consequences. any general belief exists that the experiment has The cable reports an improved situation at Stock justified itself. Its cost is heavy and without any holm, though some strikers are resorting to violence. check; it has caused considerable friction and dis Gas and electric plants are again working, and turbance; no definite results of importance are attribut it is regarded as improbable that the employees able to it; and the thing itself is a further step in a bad of the railroads will strike. The workmen who have direction. Connecticut and New Jersey promptly struck during the troubles are dissatisfied with the took note of the bad example; but the dismissal of policy of their leaders, and the strike is believed to be the subject by the former now gives reason to hope on the eve of collapse. the example has spent its force. It was reported during the week that there was likely to be a renewal of political tension in South Amer The question of trolley fares to Coney Island is up ica because of the approaching change in the Presi again. The Public Service Commission ruled that dency of Bolivia—Ismael Montez, who is unfriendly the Coney Island & Brooklyn line might charge 10 to Argentina, being succeeded by Elidor Villason, who cents on Sundays and holidays, but hinted that per is favorable to the acceptance of Argentina’s arbitral haps 5 cents might be enough on other days. Upon decision. The situation is, however, said to have been this hint a fresh demand for such a fare on ordinary composed by the announcement of the inauguration of days has been brought, and a public hearing was had the latter; a new Cabinet has been formed, with Gen on Wednesday. It was alleged that business on the eral Pando, once President of the Republic, as Prime Island is being ruined. The cars are running empty; Minister. an especial burden is that children must ride into the The Cretan incident, which has caused some con city to attend school; houses and fiats are standing cern, was reported to have been closed this week. empty. Several persons averred that they have The Porte, it was said, accepted the Greek note, unavailingly reduced their rents; a baker said his which, though not completely satisfactory, was re business is all crumbling; an old resident said the perdine in exchange at this centre on the British capital. While sterling ruled above parity, the movement was profitable, the exporters of the metal being reimbursed through the sale of the bills representing the consign ment that was dispatched to Argentina. Presumedly should the requirements for gold not only for Buenos Ayres but for Uruguay—the latter on account of the recently-negotiated loan in Paris—continue insistent, response to the demand will have to be met with direct shipments from London. It is to be noted that the decline from 1908 is due entirely to the smaller area under cultivation this year, the average yield per acre being given as 15.5 bushels, which contrasts with 14.4 bushels in 1908 and 14.6 bushels in 1907. Spring wheat, according to the report, shows a deterioration of 1.1 during the month of July, but the condition on Aug. 1, at 91.6, was much higher than in any recent year, comparing with 80.7 on Aug. 1 1908, 79.4 in 1907, 86.9 in 1906, and a ten-year average of 81.1. This report on spring wheat, therefore, would seem to hold out a promise of a very large yield; very much greater, of course, than in either 1908 or 1907. In fact there would appear to be good reason to look for the largest crop the country has ever pro duced; a yield of 300,000,000 bushels seems to be within the bounds of reason. Adopting that estimate as approximately correct, the crop of wheat (spring and winter combined) foreshadowed is 732,920,000 bushels, a total exceeded by 2 1-3 millions in 1906 and 15)^ millions in 1901, but in no other years closely approached. Oats condition is reported 2.2 points lower than a month earlier, the Department’s figures being 85.5 Aug. 1 this year, against 83.3 July 1, 76.8 Aug. 1 1908 and a ten-year mean of 83.1. The present condition is only 3.9 lower than on Aug. 1 in 1902, when the record crop was produced, and in the seven years that have elapsed there has been an addition to acreage of nearly 13^% . To assume, therefore, that the crop of 1902, which was 987,842,712 bushels, will be exceeded seems reasonable. In fact, the prevailing The grain crop outlook in the United States, as indi disposition is to anticipate a yield of over 1,000,000,000 cated by the report of the Department of Agriculture bushels. Investigations made by the Department into for Aug. 1, is very encouraging. Of all our leading the amount of oats remaining in farmers’ hands in the cereal crops there is reason to expect bountiful yields, United States on Aug. 1 indicates a very small total. amounting in a number of instances to new records of It is estimated that there was held on farms at that production, and furnishing efficient aids to that full date only 3.3% of last year’s crop, or 26,323,000 return to prosperity that the country is anxiously bushels. That aggregate compares with holdings of awaiting. In the case of our largest cereal crop 38.000. 000 bushels on Aug. 1 1908, or 5% of the 1907 corn—the average condition for Aug. 1 is given as yield, and average holdings Aug. 1 for ten years of 84.4. This, while showing greater decline from the 53.000. 000 bushels, or 6.3%. But with the new crop preceding month than usual, is nevertheless higher that is already coming on the market promising so than at the same time in either 1908 or 1907, and also bountifully, the smallness of the reserve stock causes above the ten-year average. The deterioration from July 1 was, as expected, slight in all States, except no concern. Across the border, in Canada, the wheat-crop outlook Texas and Oklahoma, where drought is known to have is highly flattering. It is officially estimated that in been quite injurious. In some of the large producing States condition is not only well above that reported Manitoba, Saskatchewan and Alberta the average per a year ago but higher than in 190G, the year of record acrejwill be over 22 bushels, giving for the three provinces yield. The general average this year, however, on an aggregate yield of 157,464,000 bushels, compared Aug. 1 was 3.7 points lower than in 1906. But in the with 92,748,000 bushels in 1908. Allowing about meantime (between 1906 and 1909) there has been an 17.766.000 bushels for the remainder of the Dominion, augmentation of 12.7% in area, and taking that into the production of the whole of Canada would be account it would seem to be a safe assumption that the 175.230.000 bushels—that is the figure officially stated current year’s outlook is for a yield in excess of 3,000, —against 114)^ millions in 1908, less than 100 millions 000,000 bushels, giving a new record in corn produc in 1907 and 131,805,000 bushels in 1906—the previous tion. Reports issued under State authority well record. Considering this Canadian estimate in con substantiate the Department of Agriculture. The nection with the present outlook in the United States, Missouri report, for instance, considers the prospects the wheat promise in North America is certainly very for corn very flattering and with good rains from now satisfactory. on a big crop is looked for. The commercial failures exhibit for the United Preliminary returns from the winter-wheat harvest, now in progress, are the basis of the Department’s States for July 1909, by contrast with the result for estimate of 432,920,000 bushels as the yield of that any recent month, is a conspicuously favorable one. crop this year. This compares with 437,908,000 The aggregate of liabilities as reported by Messrs. bushels last year, 409,442,000 bushels in 1907 and R. G. Dun & Co. is not only much less than for the 492,888,004 bushels in 1906—the high-water mark. previous month, but decidedly smaller than in the manent population is disappearing and working folk are moving away, all on account of the 10-cent fare. It seems doubtful whether this is a correct presenta tion of movements on the Island, and the dolorous tale is so uniform and sudden as to cast suspicion over it. If the cars are really empty, the carrier must know that and must be inclined to seek a remedy for a con dition in which it is immediately interested as well as others. If there is a decline in property, as asserted, pleading that fact is convenient to the complainants’ purpose; but it is far from certain that the 10-cent fare is the cause. Admitting that it is, however, the demand is vir tually that this line of railroad shall be assessed in order to benefit—or, to put it in the strongest way, to save— the interests of a certain specific section. Commis sioner Bassett denied the motion to dismiss the case, remarking that this is more than one man’s complaint; “it has become the complaint of the public.” Sup posing this to be so, it is not clear how one corpora tion can be required to suffer for a public benefit. This is the plaint of the buyer, who says he cannot pay the vendor’s prices and therefore asks the law to put them down, regardless of how the vendor will be affected. The case now stands adjourned for a fort night, in order that an appraisal of the line can be made. It must presently reach the courts as a part of the inevitable question whether specific private property can be sacrificed by the law for the sake of an assumed general advantage. corresponding month last year. It is, moreover, the The total number of wage earners in 1907 was 142,733, lowest total for any month since March 1907. It is and of this nearly 119,000 belong to the telephone also to he observed that each division into which the service. The total stock and bonds outstanding, par failures are grouped records improved results. Thus value, is $1,034,909,579, of which $814,616,004 is the defaults on the part of brokers, transporters, &c., credited to the telephone systems. As another evi represented in July 1909 only -15970,479, against $2, dence of the magnitude of the telephone system, it. 226,395 in the month of 1908 and $3,082,577 in 1907; may be noted that the gross income of the telegraph in manufacturing lines they reached but $3,807,201, and telephone system combined in the Census year whereas in the period of 1908 they aggregated $5, v as $236,045,615, of which the telephone concerns, 835,018 and in 1907 were $4,449,226; and in the trading earned $184,461,747, expending $140,802,305 and division the figures at $4,750,213 compare with the telegraph system earned $51,583,868, expending $6,160,713 and $4,802,907 respectively in the months $41,879,613. • of 1908 and 1907. For all lines combined the mercan Some 24 incorporated companies largely control the tile mortality for the month of July 1909 was only commercial telegraph and cable industry of the coun $9,527,893, against $14,222,126 in 1908 and $12, try. Out of this number only eleven paid dividends 334,710 in 1907. on their capital stock in 1907. These companies conBetter evidence of the improved mercantile situation tiol 46,301 nautical miles of ocean cable, being an in this year is, however, furnished by the result for the crease of over 29,000 miles in five years, due largely seven months ended with July. The statistics show to the laying of the Pacific cable and the New Yorkthat the number of failures for the period this year Ilavana cable in that period of time. was much less than in 1908, comparison being between Information is also furnished concerning the wire 7,9-16 and 9,941, with the 1909 indebtedness only less service. Six Avireless commercial telegraph sys $98,069,266, against $138,596,959. In 1907 the num tems, having 122 tower stations, were in existence in ber was 6,384 and liabilities $81,903,372. Banking 1907, having an authorized capitalization in the form failures for the seven months’period were 48,[with debts of stock with a par value of $39,450,000. The Federal of $16,493,954 (4 for $1,032,400 having been in July), Goveinment, realizing the value of wireless telegraphy, and this contrasts most favorably with the 129 dis has installed apparatus on 73 naval vessels and at 44 asters for $115,130,391 in the like interval of 1908. shoie stations. The exact figures representing the In the preceding year, however, the number of fail development of this important branch of the telegraph ures was but 26 and the liabilities $10,132,973. service since 1907 are not yet obtainable. Canadian failures statistics likewise denote a better general situation this year than last. The only There has been no notable change thus far the noticeably large failure in the Dominion during July present month in conditions at the McKees Rocks was an electric supply concern, the liabilities of which plant, where a strike of the employees of the Pressed furnished over one-fifth of the period’s aggregate. The Steel Car Co. has been in progress since July 1. The total number of insolvencies was 121 and the indebted company has constantly expressed hope that the strike ness $985,997, against 134 and $1,218,132 in the month would be broken, either by the introduction of outside last year and 89 and $418,138 in 1907. Greatest im w°r kmen into the plant or by the voluntary acceptance provement this year is to be found among manufac on the pait of the striking employees of the terms of turers, they contributing only $154,080 of the grand settlement offered by the company. Nether one of total, whereas traders accounted for $813,917 and these hopes has yet been realized and the company biokers, &c., $18,000. Last year’s aggregate was has commenced to evict the striking workmen from made up of trading liabilities of $717,732, manufactur their houses, most of which belong to the Pressed ing $481,180, and brokers, &c., $19,220, and in 1907 Steel Car Co. In the frequent clashes which occur the respective amounts were $210,379, $207,759 and with considerable regularity one man has been killed nil. For the seven months since Jan. 1 the mercantile and many wounded within the last few days. The disasters this year numbered 875, with liabilities of company threatens, it is said, to move its entire plant $4,280,442, against 1,015 and $9,553,857 for the same to some other locality, but no official statement to period of 1908, and 662 and $5,844,571 in 1907. Fur that effect has been made. thermore, in the seven months of 1908 the manu facturing failures alone, at $4,040,925, represented 1 lie market for money was decidedly firmer this almost as great a total as is this year covered by all week. Reports from Chicago and other interior points the disasters. showed a sharp fall in exchange on New York at the beginning of the week, indicating withdrawals of Advance figures from a Census bulletin on the elec reserves from Eastern correspondents. Call money trical industries of the United States which is soon to was chiefly affected, day-to-day loans being restricted be issued afford striking testimony to the great growth and in many cases canceled, thus providing the funds and development of the telegraph and telephone sys that were required for remittance to the interior. tems of the country in the last few years. Particu Evidences of activity in business, as disclosed by the larly noticeable is the great increase of the telephone trade reports, which recorded advances in special lines system as compared with the telegraph. It appears that had not been affected by tariff revision, and a that there were no less than 15,072,220 miles of single generally hopeful view of the situation, contributed to wire in the combined telegraph and telephone service an improvement in money. The rise in call loan rates at the time the Census was taken, and that of this stimulated a demand for the shorter fixed-date funds; the telephone controls nearly 13,000,000 miles; of the this inquiry was largely met, however, by offerings whole number of salaried officials and clerks, about of the proceeds of foreign capital representing finance five-sixths are employed by the telephone systems. and other loan bills. There was close scrutiny of the at 4 8510 @4 8525, 5 points for short at 4 8655 @ collateral that was submitted by long-term borrowers, 4 8665 and unchanged for cables. On Monday long . lenders requiring first-class security and accepting less fell 10 points to 4 85@4 8510 and cables 5 points to freely industrials, especially those that had been 4 8675 @ 4 8685, while short rose 5 points to 4 8660® recently sharply advanced in market value. The 4 8665. On Tuesday long was 5 points higher at maintenance of firm rates, without concessions, for 4 8510@4 8515, while short was 10 points lower at the longer maturities tended to divert business to 4 8650@4 8655 and cables 5 points at 4 8675® ninety day and four months’ loans, and the inquiry 4 8680. On Wednesday long fell 10 points to 4 85® broadened and the volume increased during the week. 4 8510 and cables rose 5 points to 4 8675@4 8685, Money on call, representing bank and trust company short was unchanged. On Thursday long was 10 balances, loaned at the Stock Exchange during the points lower at 4 8490^4 8510, short 5 points at week at 2 ^ % and at l % % , averaging about 2%%; 4 8645 @4 8650 and cables 5 points at 4 8670® all lending institutions quoted 1%% as the minimum. 4 8680. On Friday long rose 10 and cables 5 points, Time loans on good mixed Stock Exchange collateral were 2%@2%% for sixty and 3%% for ninety days, while short was unaltered. Sy2% for four, 3%@3%% for five and 4% for six The following shows daily posted rates for steiling months. Some trust companies and banks freely loaned money of this date of maturity, but they weie -------------- */ ., F ri., M o n ., T ues., W ed.. ATuhgu. n12 F ri., unwilling to make reductions in quoted rates. Com A ug. 13 A ug. 0 .Aug. 9 A u g . 10 Aug. 11 86 mercial paper was firmly held, and none but the best Brown 86 80 86 80 (60 days 4 86 87 'A 87)4 87)4 87 'A 87 H Bros. A C o--------- . . i B ig h t .. 4 87)4 80 86 was accepted; rates were 4% for sixty to ninety day K idder, 80 86 SO 4 86 (60 days P ea87)4 87)4 87 )4 8 7)4 87 y3 . .1 s i g h t . . 4 87)4 ’ b o d y & C o............. 86 86 80 endorsed bills receivable and 4®4%% for prime four B an k British 86 80 160 days 4 80 87)4 87)4 87)4 87)4 8 7 14 N orth A m e r ic a .. _ . \ S l g h t .- 4 87)4 86 86 86 80 86 <60 da y s 4 86 to six months’ single names. Bank of 87)4 87)4 8 7 )4 87)4 S7K . . \ S i g h t - - 4 87)4 , 5 r 1 M ontreal................. j 00 d a y s Canadian Bank of C om m erce------ . . 1S i g h t . . J60 d ays H eidelbach, Iekclbelm er & C o ------ . . IK Ig h t.. ] 60 da y s r.azard F r e r c s ---------------J60 days M erchants' Bank of Com m erce------ - - \ S l g h t - - 4 4 4 4 4 4 4 4 86 87)4 86 87)4 86 87)4 86 87)4 80 87 H 80 87)4 86 87 y, 80 87)4 86 87)4 80 87 )4 80 8 7 )4 80 87 34 86 8T)4 86 • 87)4 86 87)4 SO 87)4 86 87)4 80 87)4 86 87)4 The Bank of England rate of discount ren 87 ^ 86 80 unchanged at 2%%.The cable reports discoun 87 )4 sm 86 86 • 87)4 sixty to ninety day bank bills in London 1@1J 87)4 1 The open market rate at Paris is 1/1% end at B lay were 4 85@4 8510 and Frankfort it is ®A 2% ccording to our for * long, 4 8645@4 8650 for short and 4 8675® special cable from Londonthe Bank of England gained 4 8685 for cables. Commercial on banks 4 8475® £565 929 bullion during the week and held £39,140,209 4 8485 and documents for payment 4 84®4 84%. at the close of the week. Our correspondent further Cotton for payment 4 84@4 84^6. Cotton for accept advises us that the gain was due largely to purchases in ance 4 8475@4 8485 and grain for payment 4 84% the open market. The details of the movement into _____ and out of the Bank were as follows: Imports, £484,000 @4 84%. (of which £20,000 from Malta, £10,000 from miscel The following gives the week’s movement of money laneous sources and £454,000 bought in the open market); exports, nil,and receipts of £82,000 net from N et Interior Shipped by Received by Movement. N . Y . Banks. ,V. T . B anks. the interior of Great Britain, Week ending A ug. 13 1909. C u rr e n c y ............................. - ................- - - 86 $ 8 ,6 9 2 ,0 0 0 754 ,0 0 0 $ 7 ,4 0 0 ,0 0 0 | G ain $1,1 9 2 ,0 0 0 355,000 1 ,1 0 9 ,0 0 0 Lo6H The foreign exchange market was inactive, with G old ................. - ........... - ............................ $ 9,3 4 6 ,0 0 0 $ 8 ,5 0 9 ,0 0 0 G ain $837,000 T o ta l gold and legal ten d ers............. a generally declining tendency, during the week. It With the Sub-Treasury operations the result is as was chiefly influenced by monetary conditions and __ ______ ___________________ by speculative selling. The fall in rates appeared follows. Net Change In Out of Into B ank Holdings. to be held in check by more or less continuous market B anks. Banks. irreit ending A ug. 13 1909. ain $837,000 ing on London account, of American securities, which B a n k s’ Interior m o vem ent, as a b o v e . $9,3 4 6 ,0 0 0 $ 8 ,5 0 9 ,0 0 0 GLoss 1,164,000 3 2 ,4 6 4 .0 0 0 have been so greatly advanced. There was almost Sub-T reas. o p e r a tio n s ........................... 31 ,3 0 0 ,0 0 0 $40,973,000ijLosfl $327,000 $40,646,000 daily buying of stocks for London and drawings T o ta l gold and legal ten d e rs............ against the new credits, but such operations failed to i n e 1 U U U W 111& m u m -----------------have more than a temporarily offsetting effect upon in the principal European banks^ A u g . 13 1908. the market. After the middle of the week business A u g . 12 1909. Silver. Total. Total. Gold. grew extremely dull and was principally confined to Banks of Gold. Stiver. £ £ short sterling; this, though, fluctuated within a narrow £ £ 36,550,903 .............. . . 3 9 .1 4 0 ,2 0 9 3 6,550.903 n g la n d .. 39,140,201 184,104,800 128.844,88.. 36,250,17$ 65,095,063 range. Commodity bills against gram were in com EFrance 36,002*,241 118,102,560 5 5 .116.000 ... 54 041 .1 0 0 41,810,001 13,276,000 any . 41,145,151 12,895,950 13 0 648 ,0 0 0 H 5 .5 2 8 ,001 7.994.000 23.5 2 2 .0 0 0 8.970.000 paratively large volume, reflecting a free export GR uerm ssia a . . 127,578,000 13,354,0100 60.370.000 12.591.000 56.716.000 27,058,0)00 42.739.000 A u s-llu n b : S o o 16,009,000 3 1 .7 94.000 ^ 9 1 6 .0 0 0 36:736,000 movement of the staple; those against cotton were S p a in ........ I 38 4.400.000 4 1.136.000 4.5 0 0 .0 0 0 416,000 4,223,300 11.928.000 I t a l y . <1 - 1 4 ,1 80.100 7,704,700 6 .148.000 th ’lands 10.534.000 3 ,6 4 6 ,1 0 0 2,049,333 not large, but they are expected soon to increase. NNeat.R 6 184,0001 4,098,667 2 .161,333 4 030.000 elg d 4,322,667 4 .3 7 9 ,0 0 0 4,030,000 4 379.00(1 4 .305.000 ed en . . 4 7 6 8 ,8 0 0 4,305,000 One feature was the offering of francs, said to have Sw 1.736.000 4,768,800 oWlW lilliu — 1,765,000| 1,736,001 been due to the placing in Paris of considerable blocks N o r w a y . . 1,765,000 __________ t e , 43 7 .0 0 9 444,080,155 108.604.811 552,684,966 112,560,623 week ;l49 2 ,876.381! 1603,461.550J443,024,37* >108,740,543 551,764,918 of securities by private bankers and syndicates. The TP orevta l.week :|490,464,520 I'll 2,997,030 u ie umiiiiua item nuruau. »••• firm rates for money for short maturities and for — n T he to ta l of gold. . . In the B an k i)“ iiQ<iln| mnuilCS " o ther C ontinental banks. T he pros . the am ount held for R ussian a cco u n t in o ftbove 9 tatem en t ,a aboUt onoloans falling due during the height of the cotton- inortton so held and co n seq u en tly dup licated m f to ta l this year, a 8aln®CJ fa te n ie n t ts^now Issued In K ronen and H«1I6* export movement seemed to encourage the drawing tenbthT heof the A tistr^ H u ngarlan Bank ^ e m e n t b t„ e form er currency to stcrl ng of Gulden and K reutzer. The re“ "c t* v „iue on cen ts. As the Pounds was by considering the G ulden to ha v e our cable correspondent In of finance and other loan bills; there were, however Instead few of such drafts employed to carry securities with foreign capital. Compared with Friday of last week, rates for exchange on Saturday were 15 points lower for long ignorance or an attempt to mislead. Certainly these OUR AGRICULTURAL INTERESTS AND THE statements cannot be allowed to go unchallenged. BALANCE OE POWER. Mr. Johnson, it will be noticed, observes that “in the The address, which Gov. John A. Johnson of Minne years that have passed, our population have not sota delivered at the Seattle Exposition last week enjoyed that representation to which they are entitled” demands more careful analysis than it has yet had and that it is time that the States west of the Missis and more than what it is entitled to on its intrinsic sippi “should arise in their might and claim for merits. Mr. Johnson is a Presidential aspirant and at themselves that fair share of influence in the halls the Seattle Exposition, according to the newspaper of Congress and in the administration of national accounts, he was boomed for the Presidency and affairs, &c.” Mr. Johnson, while of Swedish extrac received a tremendous ovation on the part of the tion, claims, we believe, to have been born in this audience present. His friends claim that he is entitled country, and hence must have studied political history to be considered a conservative in thought and in in the schools. It is hard, however, to believe that action, and last year, when he was a contestant with any one,even though having only elementary knowledge Mr. Bryan for the Democratic Presidential nomina of the country’s political institutions, could deliber tion, it was particularly urged on his behalf that he ately have uttered such childish nonsense as that the was a very much superior type of man to Mr. Bryan Western States are not enjoying that political repre on that account. In his public utterances this con sentation to which they are entitled. As a matter servatism has never been in evidence. On the con of fact, these Western States have a representation in trary, it is becoming more and more patent that he is Congress'altogether out of proportion to their popula seeking political advancement by the same appeal to tion and out of proportion, too, to their wealth— the passions of the multitude and by the same species at least in the Upper House of Congress where, as of claptrap and demagogism as Mr. Bryan himself. we know, lies the real seat of legislative power, as has Mr. Bryan, it will be remembered, undertook to ride been so clearly demonstrated during the extra session into popular favor by his speech with regard to cruci of Congress which came to an end the present month. fying unfortunate debtors on a Cross of Gold, and New York has, roughly, 8Y2 million inhabitants, and Mr. Johnson has now adopted the same tactics by his Pennsylvania, roughly, 7 y million inhabitants, and declaration that “ It is time that the West threw off yet each of these States has only two representatives in the shackles of the East.” As a popular slogan this the Senate, the same as Minnesota, with a population has about as much to commend it as the Cross of Gold only slightly in excess of 2,000,000. Kansas, with less speech. than 2,000,000, and Nebraska with less than If Mr. Johnson had not sought to explain what he millions, and North Dakota with only 600,000, and meant by his amazing declaration, it might, perhaps, South Dakota with only 500,000, and Montana and have escaped analysis and serve the purpose of a Idaho and Utah with considerably less than half a campaign cry with the unthinking. Among the million each, and Wyoming with only about 125,000, more intelligent classes it would, in the absence of a and Nevada with 132,000, have likewise each two key to its meaning, be taken as of a piece with the senatois. Taking the so-called Middle States, namely talk in which political orators of the lower sort have New York, New Jersey, Pennsylvania, Delaware and been indulging for several decades past, and the pur Maryland, they have no more than ten votes in the pose of which is to convey the idea that the East, in United States Senate with a population in 1905 furnishing capital to the West to build its railroads, (according to a compilation published in the “ World” open up its mines and develop its vast resources Almanac) of 20,224,400, while the whole tier of generally, had been acting as the oppressor of the Western and Pacific States with a population of West. But Mr. Johnson does not content himself 20,479,862 has a representation in the Upper House with the bald statement that “It is time that the West of Congress of no less than thirty-four votes. How threw off the shackles of the East,” but amplifies his absurd, under these circumstances, for any one to remark in a way that is astounding for its unguarded seriously put forth the claim that the Western States recklessness. Here is the part of the address in which do not enjoy the representation to which their popula the statement referred to occurs: tion entitles them. Mr. Johnson argues that “ Western leaders have been “ We have in the States west of the Mississippi the undoubted balance of power, no matter under what content to follow in no small measure the leadership name the National Administration at Washington of men who represent relatively smaller constituencies exists. In the years that have passed, our population and our material wealth have not enjoyed that repre and smaller commonwealths.” This has been taken sentation to which they are entitled, and, furthermore, as a fling at the New England States and the part that our leaders have been content to follow in no small the Senators from these States have had in influencing measure the leadership of men who represent relatively tariff legislation. But has not the West had more smaller constituencies and smaller commonwealths. than its share of the benefits even of favored tariff It is time that the We.st threw off the shackles of the East. I would preach no sectional divisions and no legislation.'’ Hie West has been contending for di sectional strifes, but Minnesota and Washington and minished duties on manufactured goods produced the States between, with those to the south of us, here in the East and in which it is interested merely should arise in their might and claim for themselves as consumer, while it has been insistent that the tariff that fair share of influence in the halls of Congress on farm products which are the produce of the West and in the administration of national affairs to which they are entitled by every law of common sense as should be maintained unimpaired and even increased. Perhaps it has not had as much reduction on manu well as of political economy.” factured goods as it desired, but certainly no blow It is difficult to know how to regard such amazing has been struck at the exorbitant and indefensible statements as are here given—whether as implying duties imposed on its own products. In that respect it has come , out triumphant on this occasion, as it tive duties against all foreign products except such as he cannot raise himself. So long as the Western always has in the past at periods of tariff revision. There are tariff reformers without number in this agricultural communities are enabled to perpetuate country, but no one has ever been bold enough to such a situation, will any one in his senses seriously attack the citadel of protection in the farm and on the maintain that these Western communities are not plains. Indeed it seems to be taken for granted having the influence in the halls of Congress to which that these are burdens which the consuming public they are entitled? For ourselves we do not believe that such a state of must always bear in silence and in patience. If there things will be allowed to exist many years longer. is to be a downward revision we must close our eyes Mr. Johnson in his remarks constitued himself the to the situation in the agricultural communities, especial champion of the States West of the Mississippi. which furnish the main necessaries of life, and turn our These are the distinctively agricultural States. They attention to the Eastern manufacturing communities. And the farmer, educated to the same view, is all the had a population in 1905 of 27,607,280. On the other time demanding more protection for himself and insist hand the States East of the Mississippi had a popula tion of no less than 62,130,846. These 62 million con ing that less is needed for other parts of the country. President Taft in signing the Tariff Bill issued a sumers are paying constant tribute to the other 27 statement saying that in the main the bill was a sub millions. Open to these 62 millions the markets of stantial downward revision. But how is it in the the world in food supplies and the pressure arising matter of the products of the farm which we all of us out of the high cost of living, which is the problem consume in the daily course of our lives!1 Has there now confronting every one, would unquestionably been any revision here? Far from it. We referred be very greatly alleviated. Some of these days this two weeks ago to the fact that under existing law no large consuming population will demand free trade in wheat whatever could be imported from foreign food products. The matter was not of very great countries—not even from Canada, where so much of importance while population was relatively small and it is raised—except on the payment of a duty of 25c. home supplies ran largely in excess of home consump a bushel. Has this duty been lowered or abolished? tive requirements. But now it is getting urgent. Mr Every one knows that it has not, but that it has been Johnson has got the cart before the horse. Instead of left unchanged at a time when the Eastern consuming its being time for the West to throw off the shackles of public has been obliged to pay SI 40 or SI 50 a bushel the East, the time is near when the, East will in for its wheat, for weeks at a time. rIhe cost of living self-preservation be forced to throw off the shackles has been steadily rising in this country, a fact to which of the West. every head of a family can testify, and there was THE POPULAR OUTBREAK IN SPAIN. really crying need that the duty on wheat should be The popular uprising in Spain, whose actual status altogether abolished. No one in Congress even dared at the moment is somewhat obscure, has been one of to suggest such a step, for fear of encounteiing political those incidents which come without the slightest warn oblivion at the hands of the farmers. ing and which apparently disappear from the news al Instead of there having been a downward revision most as suddenly. What the newspaper-reading public in the duties on agricultural products, so as to cheapen learned originally regarding the affair was that the the cost of living to the great masses of the people, Spanish Government, having assumed a certain pro most of the changes in duties have been changes tectorate over a part of the coast of Morocco, sent upwaM—that is, in the direction of still higher troops to put down a hostile demonstration by the imposts. This remark applies even in the case Moors; that the campaign appeared to have been badly of fruits, the duty on dates, for instance, being managed, the Moors winning a victory and the Span run up from a pound to lc.; on grapes fiom ish troops meeting with serious disaster. Ihe com 20c. a cubic foot to 25c., and on lemons from lc. a manding General promptly sent a request to his Gov pound to l ^ c . a pound. We are referring here only ernment for reinforcements of 75,000 troops. An to some conspicuous instances of increases. But all nouncement that this requisition would be made through the agricultural schedule the duties have always been extraordinary; and in the new Tariff Bill through the conscript system led to an immediate these duties have not been cut down. On apples the popular demonstration, particularly at Barcelona tax is 25c. a bushel; on peaches, quinces, &c., the same; and Madrid. Mob attacks of a violent sort occurred throughout on potatoes the same. Nuts, meats, poultiy, cattle Catalonia, martial law was declared and censorship of and everything else bear high rates of duties. the press and of communications in general was im These excessive duties on all the products of the soil have been the principal factor in the increase in mediately proclaimed. The meagre details which the cost of living, and the situation has now become crossed the frontier regarding this affair stated that well nigh intolerable. Laboring classes in the East the King himself was hooted in the streets, and that have had their wages repeatedly increased in recent visible signs of disaffection in the army itself had ap years, but have been unable to get the advantage they peared. Barcelona was reported to be in a condition should have had from such advances by reason of this of anarchy. How far this account was exaggerated, very fact that the cost of living has so tremendously it was difficult to say, owing to the press censorship. increased and still keeps rising. No matter what kind But sympathetic demonstrations in the way of indus of food the citizen may consume, whether it be fish, trial strikes began to spring up at once throughout or meat, or fowl, or grain or fruit, he finds prices the kingdom, and in many respects the uprising closely rising higher and still higher. The reason is found in resembled the two or three violent popular movements the circumstance that the farmer demands the home of the seventies, which in those cases resulted in the market exclusively for himself and insists on prohibi upsetting of the existing form of government. Nothing of the kind appears to be apprehended on the present occasion, and, indeed, the figure cut by the episode as a nine-day-wonder, almost as quickly forgotten by readers of the daily press as it was sud denly seized upon, is in a way an illustration of the manner in which history is now-a-days made for us. The great press associations, covering the entire world, naturally converge their attention on such localities as provide accessible news of a continued sensational character. Their service falls down under a censorship, resulting either in such gross exaggerations as filled the daily papers during the Chinese rebellion of 1900 or such confusion of reports as characterized the Russian revolt of 1905, or such complete dropping of the entire subject as seems just now to mark the present episode. Nevertheless this Spanish incident is deeply inter esting, and in a way that concerns more countries than Spain. It may, to be sure, be argued that circum stances in that community were peculiar. The lack of loyalty and the recurrent sentiment of disaffection to government on the part of the population in the southeastern provinces is traditional. It is there that demonstrations against the existing order have almost invariably originated during the past half-century of Spanish history. The people of the province have never reconciled themselves to the form of union with the rest of Spain which has prevailed for so many decades; their instincts are turbulent, and they are dominated, in a degree not true in any other sections of Spain and Europe, by industrial agitators, if not by professional anarchists. All this might serve to restrict to the country where it occurred inferences from this last demonstra tion. But on the oher hand, the fact remains that the real provocation, of which the agitators merely took advantage, was the popular dislike, first, to compul sory military service in the field, second, to colonial experiments, especially when they required foreign service by the conscripts. In Spain, as in many other countries, a system of forced military service works well enough when it is merely a routine requirement of camp or garrison duty from the citizens at a certain time of life, or when the safety of the country itself is at stake, say, through invasion by foreign troops. Colonial service is another matter. A certain atmos phere of enthusiasm may sometimes easily surround such an episode, as in the case of our own Cuban undertaking, or of England's invasion of the Trans vaal. But this enthusiasm is limited to particular cases. Nobody imagines that a call for fresh troops from our people, for the purpose of putting down a Philippine revolt, would be received as was the call for the Spanish War. England would not draw readily on her young men, if the proposition of sub duing West Africa, for instance, were to rise at the present time. When to this is added the notoriously bad sanitary conditions which have prevailed in the colonial experiments of Spain, and of more than one other nation, and the unpleasant recollections which therefore surround such episodes in the popular mind, the attitude of the Spanish people need not be surprising. Furthermore, it may be fairly contended, in the case of Spain, that the public view regarding colonial experiments is correct, and that the Government’s ambitious attitude in such matters as this Morocco affair is utterly mistaken. Nothing could better prove the truth of this than the equanimity with which both the Spanish Government and the Spanish people submitted to the loss of the Philippines. Castilian pride was undoubtedly touched by the outcome of the war, and we are not among those who have believed that this injury to self-respect was soothed by our Government’s payment of a money indemnity. But the case was this—Govern ment and people recognized instinctively that the removal of a crushing burden and perennial nuisance was so happy a stroke of fortune that the Cuban war might have been called, even by Spaniards, a blessing in disguise. It is a quite incontestable fact that actual prosperity in Spain has increased since she lost the Philippines as it had not done during many preceding decades. This brings into view the larger lesson of an episode of this sort. Are the people of a given country, or are they not, to have something to say on their own account about the ambitious and extravagant plans of government ? It will readily be seen that such a question cannot be limited by the Spanish border. It was, we believe, Mr. Asquith who declared some months ago, after a despairing reference to the growing burden of military and naval armaments, that the question must be solved, if it were to be solved by any one, by the laboring classes. How much and how little he meant by this assertion we do not profess to know. Most probably he had reference merely to the ballot. Such countries as Spain, however, are showing that there are other ways in which the people may make themselves dangerous in matters of this sort. The experience through which Russia and Italy have passed during the last few years illustrate tendencies in that regard, and it is not to be over looked that the recent serious demonstration in Sweden—the last place where anything of the sort was to be expected—came in much the same category. We do not point to this tendency of the day with a view to approve in any sense the use of the expedient of an industrial strike. Very little argument is required to show that the industrial strike, as a means of injuring some one else, reacts on the authors of the demonstration with ten-fold severity. The tend ency to which we have referred does, however, show clearly that the policy of extravagance with public funds, raised by taxation and used promptly to pre pare or provide, on a scale of reckless profusion, for purposes of military destruction and waste, is a provoking policy which is drawing a good many countries nearer to some sort of political reckoning with the people at large. The protest finds its voice one way in Germany, when the Government’s new requisitions come before the Reichstag, and another way in Spain. But both are equally parts of a genuine problem of the day. NEW ORLEANS AND ITS BOARD OF LIQUIDATION. While from a political standpoint New Orleans is not much better off in the character of its city government than other large American cities, there is one respect at least in which the metropolis of the South is probably ahead of most other municipalities of the United States. This is as regards the manner in which the bonded indebtedness of the city is handled. It is one of the bright features in the city’s adminis tration. Since the year 1880, following the reckless financing of reconstruction clays, the bonded indebtedness of New Orleans has been in the hands of a self-perpetu ating board, created by a legislative Act of that year and embodied as a part of the Constitution of the State, which tended at once to restore confidence among the city’s bondholders at a time when the local financial horizon was dark indeed. The object of this legislative creation was to have a body of repre sentative business men and financiers who should design and carry out a sound financial plan by which the entire bonded indebtedness of the city should be cared for in a manner absolutely free from political considerations or influences, the purpose in view being the re-establishment of the city’s credit, which had fallen low during the impoverished days that followed the Civil War. It is of interest to recall that when Louisiana seceded from the Union, in the ’60s, New Orleans was then the only competitor in the matter of foreign commerce with New York, and that the volume of both imports and exports at that time exceeded that of the Northern port. The destruction, by the war, of millions of dollars of taxable values in the South was reflected by the impairment of banking capital in the Crescent City, which was much larger then than it is now, and reduced the total tax assessments to figures which ante-bellum administrators of the city debt had never even dreamed of as possible until stern reality stared them in the face. To add to the heavy financial burden, carpet-bag administrations, backed up by Federal bayonets, squandered the city’s alimony in reckless fashion and created fresh obligations, which still further impaired the city’s credit. So bad was the financial condition that prevailed with regard to this city at that time that the State Legislature, in an Act bearing upon the city’s bonded and floating indebtedness, used the following impressive language: “Whereas, the total debt, bonded and floating, of the city of New Orleans has accumulated to an amount exceeding twenty-three millions of dollars, resulting from the occurrences of the Civil War and from reckless expenditures of public moneys; and, whereas, under the depressing influences of the late war and the disasters produced by the overflows in this State, and other causes, the taxable property of the city of New Orleans has become so reduced in value as to require taxation at the rate of at least five per cent per annum to liquidate the debt as established by the Acts authorizing the various issues of the same; whereas, the levying of a tax at so exorbitant a rate renders the collection impossible; and, whereas, the continuation of the levying of a tax beyond the ability of the property to pay leads to a further destruction of the assessable property of the city and the conse quent shrinkage of the common pledge of the creditors, tending to a continuation of the present embarrassment of the city affairs and ultimate practical bankruptcy,” &c. This, in brief, was the genesis of Act 133 of 1880, creating a permanent syndicate body of six citizens, with the Mayor, the City Treasurer and the City Comptroller as ex-officio members, styled the Board of Liquidation of the City Debt. In the title of the Act creating this board, which occupies an anomalous position in the city government, inasmuch as the continuing members control the policy of the board, the purpose of the board thus created was succinctly stated as being to liquidate the indebtedness of the city of New Orleans and to apply its assets to the satisfaction thereof. The first President of the Board of Liquidation was Joseph H. Oglesby, a leading banker of those days, the other five syndicate members being John Phelps, E. A. Palfrey, Henry Gardes, A. J. Gomilla and Alfred H. Isaacson, all prominent business men of their time. As the syndicate members died, or resigned their honorary positions on the board, the syndicate elected members to succeed them. Thus, on April.30 1886 R. M. Walmsley, President of the Canal-Louisiana Bank & Trust Co. of New Orleans, was elected to fill the vacancy created by the death of John Phelps, an original member of the syndicate, and father of Ashton Phelps, now a syndicate member of the board. JMr. Walmsley was elected President of the board, owing to the death of Mr. Oglesby, on Feb. 10 1888. With the election of Mr. Walmsley to the presidency of the board, a position which he retains to this day, the real achievements of the Board of Liquidation began. In the preceding years the board had, it might be said, simply been gathering up the loose ends of the city’s debt. With the accession of Mr. Walmsley to the presidency, however, came new blood and new methods of financing, which were destined within a compara tively short period of time to achieve results scarcely dreamed of by the members of the Legislature who passed the Act creating the board. Following the decision of the United States Supreme Court in the famous Gaines case, in which the city of New Orleans was ordered to pay one million dollars in settlement of the claim involved in this suit, pre mium bonds of the city, issued by an Act of the Legis lature in 1876, went as low as thirty cents on the dollar. It was then that the first bold stroke of policy was carried out. The board having come into possession of certain funds, three and one-half millions of premium bonds were covertly purchased, and the gradual rise in the value of these securities thereafter was the beginning of the dawn of a new financial era for the city of New Orleans. The certificates issued to settle the Gaines claim; bearing 6 per cent interest, approaching maturity, as well as other obligations amounting altogether to 43^ millions, the board went before the State Legisla ture and secured permission to issue $10,000,000 Constitutional Bonds of the City of New Orleans for the purpose of refunding the city debt, to bear interest at the rate of 4 per cent per annum. Foreseeing that the financial situation at the time was such that the refunding plan could not be successfully executed, the board, upon the advice of President Walmsley, secured from the State Legislature of 1894 an author ization to negotiate for the sale of such an amount of bonds as was necessary to retire the outstanding bonded indebtedness of that time, except the premium bonds. Through Mr. Walmsley’s personal influence with stockholders of the old Louisiana National Bank, the first of the refunding series was successfully put through. In the early nineties, for the first time since the Civil War, city four per cent bonds sold at par. A few years later, another issue of the refunding four per cents was made to redeem certified bonds and certificates, all of which, as well as the bonds and certificates retired by the first issue of four per cents, were bearing interest at the rate of 6 per cent. The Louisiana National Bank, of which Mr. Walrasley was the president, was the successful bidder, taking the issue at a discount of three and three-quarters. The final sales of the city fours were made at from 102 to 106, the price afterwards rising to 110. Thus the city’s credit was re-established by the wisdom of a board, free to act in the best interests of the city, and with the skilful financiering and strong personal influence that President Walmsley had with the interests identified at that time with the old Louisiana National Bank. The refunding issue paved the way for sale of twelve millions of public improvement bonds, author ized by the Legislature in a Constitutional Amendment adopted by the people of Louisiana in 1899 and which was the beginning of the installation of a modern system of drainage and sewerage in the city of New Orleans. This issue was predicated upon a two-mill tax and a surplus of the 1 per cent tax, the latter also being written in the Constitution, and therefore not subject to change. Under the present admirably arranged system, the bonded indebtedness of New Orleans is being gradually reduced, and with only a natural increase in assess ment values from now on, the proportion of total assessment values to the bonded indebtedness will steadily diminish in the future. The successful refunding of the city debt, which was, as already stated, a notable achievement, will result to the city in a saving of the difference between 6 and 4 per cent for thirty years, or a total saving in that time of about $3,000,000. The premium bonds, under the present plan, will be paid off in 1922. The ten millions of refunding four per cents will commence being redeemed in 1925 at the rate of $500,000 per annum until 1932, when they will be redeemed at the rate of $700,000 per annum and will be paid off in 1942. The redemption of the public improvement issue of twelve millions will begin in 1942, in any manner that the board may deem advisable, because the 1 per cent constitutional tax will then be free from other things to which it wilfbe dedicated up to that time. The last authorized issue of public improvements bonds is based upon the surplus of the one per cent tax and one million of this issue was recently sold at a discount of 6 per cent. Even at this attractive discount, some difficulty was experienced in disposing of one million dollars worth of these bonds, owing to the fact that they are not based upon a direct tax and rank much lower than other city bond issues successfully put through by the Board of Liquidation. President Walmsley, while not opposed to the issue, felt that the sale of these bonds was premature, and the view that he took has been justified by the course of events with regard to this particular issue. Owing to the circumstances surrounding this issue, the price of the new public improvements bonds cannot be regarded as a standard by which to judge the value of other securities of the city. Adherence to the conservative financial policy of the Board of Liquida tion of the City Debt is bound to result in a decided strengthening of the financial position of New Orleans whose securities will then command increased favor in the eyes of investors. The syndicate members of the Board of Liquidation, as constituted to-day, is composed of R. M. Walmsley, W. T. Hardie, W. R. Stauffer, A. Brittin, Chas. J. Theard and Ashton Phelps. Mr. Walmsley is the President of the board and T. Wolfe Jr. is the Secre tary, a position which he has held since the board’s organization. The present bonded debt of New Orleans is $32,521,040. The assessed valuation for 1908 was $223,549,246. RAILROAD GROSS EARNINGS FOR JULY. Gross earnings of United States railroads continue to show substantial improvement over the poor results of last year. For July the amount and ratio of in crease is not as large as for June or some of the pre ceding months; but that is merely because the loss in July of last year was not as heavy as the losses of immediately preceding months. Our compilations to-day cover only the roads that furnish early pre liminary figures comprising 78,680 miles of line, or, roughly, one-third the railroad mileage of the country. On this mileage the increase reaches $4,182,933, or 8.42%. Last year our early statement covered 82,225 miles of road and showed a falling off of $11,242,352, or 16.57%. The difference between these two sets of figures affords an indication of how far this year’s improvement falls short of overcoming last year’s shrinkage. It is to be noted, however, that though the revival in general trade made further progress during July and in the iron and steel industry very pronounced activity developed, on the other hand, as far as the movement of the leading staples is conperned, the railroads as a whole had no advantage over the situ ation a year ago; on the contrary, in not a few in stances the roads must have had a diminished tonnage in these staples. At all events, the Western grain movement fell considerably below that of 1908, and the Southern cotton movement also was very much smaller than last year. The Western live-stock deliveries likewise appear to have been on a diminished scale, taking the figures at the five principal Western points as a basis. It is true that the receipts of cattle at these markets aggregated 644,029 head in July 1909, as against 626,862 head in 1908, and that the receipts of sheep were 655,638 head, against 631,871 head; but, per the contrary, the receipts of hogs were only 1,146,370 head, against 1,234,963 head. Prior to last year gross earnings had recorded almost uninterrupted increases year by year, 1904 having been the only exception to the rule, as will be seen from the following statement, showing our early July totals for each year back to 1896. Mileage. J u ly . Year— 1 8 9 6 -----1 8 9 7 ____ 1 8 9 8 ____ 1 8 9 9 ____ 1 9 0 0 ____ 1 9 0 1 ____ 1 9 0 2 ____ 1903 ____ 1 9 0 1 ____ 1 9 0 5 ____ 1 9 0 6 ____ 1 9 0 7 ____ 1 9 0 8 ____ 1 9 0 9 ____ J Year Year In Given. Preced. cr'sc. Rands M iles. 126 122 126 111 99 88 79 75 67 55 68 65 53 52 M iles. 9 3,193 9 2,413 9 6,605 9 5,286 90,942 90,417 9 4,980 9 3,906 93,573 90 ,5 2 8 9 1,840 89,891 9 4,718 92,947 9 7 ,9 1 0 90,049 85,558 83,243 7 5 ,398 73,629 96,484 94,276 97,152 96,231 82 ,2 2 5 80,944 7 8,680 77,193 Gross Earnings. Year Given. $ % 0.84 1.38 0.5 8 1.14 3 .3 6 2.17 1.91 1.93 2.78 2.4 2 2.34 0.95 1.58 1.93 3 9 .9 23,091 43,055,387 39 ,4 0 1 ,0 8 5 4 9 ,7 79,446 48,884,012 52,849,645 6 1 ,1 97,348 69,395 >816 54,602,603 5 0 ,1 44,735 8 1 ,5 78,288 9 0,308,407 5 6 .5 60,742 5 3,904,004 0 .88 1.38 0.58 1.14 3.36 2.03 1.91 1.93 2.7 8 2.42 2.34 0.9 5 1.58 1.90 254 ,8 4 0 ,2 5 5 274,635,194 2 7 6 .240,565 32 1 ,4 3 5 ,8 8 2 33 6 ,4 4 1 ,8 7 3 31 7 ,8 7 1 ,9 6 5 400 ,6 3 3 ,0 7 8 462.741,784 36 5 ,6 6 8 ,3 7 8 33 4 ,0 1 4 ,4 4 2 5 4 1 ,466,463 5 9 2 .730,696 3 6 1 ,745,684 346 ,5 3 9 ,7 7 8 Increase (•+-> or Decrease (■ Year Preceding. $ $ 3 8 ,5 04,094 + 1,418,997 41 ,0 5 6 ,2 0 6 + 1 ,999,181 38 ,8 2 2 ,0 5 9 + 579,026 4 2 ,6 25,375 + 7 ,1 5 4 ,0 7 1 46,085,544 + 2 ,7 9 8 ,4 6 8 46 ,3 3 4 ,6 1 9 + 6 ,5 1 5 ,0 2 6 5 6 ,8 49,967 + 4 ,347,381 61,980,921 + 7 ,4 1 4 ,8 9 5 5 5 ,6 07,185 — 1,004.582 46 ,6 5 9 ,2 9 2 + 3 ,4 8 5 ,4 4 3 71,186,181 + 1 0,392,107 80 ,9 8 2 ,3 0 5 + 9 ,3 2 6 ,1 0 2 67 .8 0 3 ,0 9 4 — 1 1,242,352 4 9 ,721,071 + 4 ,1 8 2 ,9 3 3 % 3 .6 8 4 .8 6 1.49 16.78 0.07 14.06 7.64 11.96 1.80 7.47 14.60 11.52 16.57 8.42 J a n . 1 to J u ly 3 1 . 1 8 9 6 ____ 1 8 9 7 ____ 1 8 9 8 ____ 1 8 9 9 ____ 1 9 0 0 ____ 1 9 0 1 ____ 1 9 0 2 ____ 1 9 0 3 ____ 1904 . . . . 1 9 0 5 ____ 1 9 0 6 ____ 1907 ____ 1 9 0 8 .... 1 9 0 9 ____ 121 120 125 108 99 85 78 75 67 54 68 65 53 51 90,918 96,048 9 0,920 94,604 93,573 88,374 94,573 9 7.910 85,558 75,141 90,484 97,152 8 2,225 77,616 90,118 94,729 90,395 9 3,530 90,528 86,419 92,802 96,049 83,243 73,372 94,276 96,231 80,944 76,170 238,948,747 2 7 2 ,821,160 2 4 7 ,351,746 298,502,817 299,297,422 288,590,907 369,655,341 408,483,911 3 7 2 ,108,550 312,876,815 4 6 8 ,552,630 537,562.604 436.752,181 311,855,551 i + 1 5 ,8 91,508 + 1,814,034 + 2 8 ,8 8 8 .8 1 9 + 2 2 ,9 3 3 ,0 6 5 + 3 7 ,1 4 4 ,4 5 1 + 2 9 ,2 8 1 ,0 5 8 + 3 0 ,9 7 7 ,7 3 7 + 54 ,2 5 7 ,8 7 3 — 6 ,4 4 0 ,1 7 2 + 2 1 ,1 3 7 ,6 2 7 + 7 2 ,9 1 3 ,8 3 3 + 55 ,1 6 8 ,0 9 2 — 75 ,0 0 6 ,4 9 7 + 3 4 ,6 8 4 ,2 2 7 6 .65 0 .6 6 11.68 7 .6 8 12.41 10.14 8 .3 8 13.29 1.73 6 .75 1 5.56 10.24 17.18 11.12 N ote .—Neither tho earnings of tho Mexican roads nor the mining operations of the anthracite coal roads are Included In this table. As far as the separate roads are concerned, increases predominate everywhere, and some of these are for large amounts. Decreases, however, are by no means entirely lacking, and in these we see reflected the in fluence of a smaller grain and a smaller cotton move ment. It should be added, moreover, that severe rain storms and an excessive fall of rain in Colorado and some other parts of the Western half of the country were likewise an adverse feature with some of the roads. As an indication of the way the gains the present year, even when large, compare with last year’s losses, we may note that, while the Great Northern now has an increase of $694,482, last year on a somewhat different basis of comparison it suf fered a decrease of no less than $1,327,414. The Canadian Pacific has recovered almost the whole of its 1908 loss; but the Illinois Central has only $345,780 gain, against a loss last year of $858,680. The South ern Railway’s present gain is only $137,342, whereas a year ago it sustained a shrinkage of $703,847, and the Louisville & Nashville has recovered only $142,182 of its falling off of $445,684 in 1908. Below we show all changes for the separate roads, whether increases or decreases, for amounts in excess of $30,000. P R IN C IP A L C H A N G E S IN G R O SS E A R N IN G S IN J U L Y . In crea ses. Increases . $ 4 2 ,5 7 8 C a n a d ia n P a c i f i c --------------- $ 8 0 8 ,0 0 0 C h ic I iid & L o u is v ille ------2 /40,525 K a n C it y M e x & O r i e n t .. G re a t N o r th e r n ( 2 ) ----------3 6 ,9 8 3 M o b ile & O h io ......................... M isso u r i P a o lflc ( 2 ) ----------3 3 ,6 9 7 I llin o is C e n tr a l......................... 3 4 o ,7 8 0 M in n e a p o lis & S t L o u i s . . 3 2 ,7 4 4 D e n v e r & R io G r a n d e ------3 1 6 ,9 0 0 A t la n t a B lr m & A t l --------3 0 ,4 2 8 C h e s a p e a k e & O h io ----------2 2 1 ,2 6 2 A la N e w O r & T e x P a c (3) G ra n d T r u n k ( 4 ) . ................. 1 7 1 .0 7 0 R e p r e s e n t in g 3 0 r o a d s B u ff R o c h & P i t t s _______ 1 5 0 ,8 8 1 in o u r c o m p i l a t i o n . . $ 4 ,1 7 1 ,5 6 8 L o u is v ille & N a s h v i l le ___ 1 4 2 ,1 8 2 W a b a s h ___________________ 1 3 7 ,8 8 4 D ecreases. 1 3 7 ,3 4 2 S o u t h e r n R a i l w a y ------------$ 5 0 ,0 0 0 M in n S t P & S S M ( 2 ) - . 1 3 3 ,1 5 1 C e n tr a l o f G e o r g ia . C h ic a g o & A l t o n — 4 1 ,7 9 2 1 1 5 ,0 0 0 C a n a d ia n N o r t h e r n ----------7 1 ,0 4 7 Y a z o o & M iss V a l l e y ------R e p r e s e n t in g 2 r o a d s 6 6 ,6 3 2 D u lu t h S o S h & A t l --------in o u r c o m p i l a t i o n . . $ 9 1 ,7 9 2 5 8 ,0 0 0 I n t e r n a t io n a l & G t N o r . . N o te . __ F ig u r e s in p a r e n t h e s is a f t e r n a m e o f r o a d I n d ic a te n u m b e i o f lin e s o r c o m p a n ie s fo r w h ic h s e p a r a te r e tu r n s a r e g iv e n In o u r c o m p ila tio n . y T h e s e fig u r e s a r e fo r t h r e e w e e k s o n ly . Wheal. (bush.) Corn. (bush.) 4 ,4 0 5 ,3 8 2 5 ,1 7 9 ,4 2 5 9 ,8 9 4 ,9 9 8 4 9 ,909,021 7 ,6 8 3 ,3 4 3 5 4 ,416,917 1,6 0 3 ,7 0 8 1 ,467,055 2 ,6 1 3 ,7 0 5 4 ,2 6 8 ,0 0 0 4 ,1 1 1 ,1 0 0 1,7 8 3 ,0 0 0 1 ,308,590 1 ,351,355 7 ,0 1 8 ,4 3 8 13,1 9 7 ,7 6 0 8 ,9 2 5 ,7 7 0 15,126,694 J a n . 1 to J u ly 31— Flour. (bbls.) Chicago— 1 9 0 9 ............... 190 8 _______ M ilwaukee — 19 0 9______ 1 9 0 8 ----------1 9 0 9 ______ 1 9 0 8 ______ Toledo— 190 9 ............. 190 8 _______ Detroit— 1,2 2 6 ,4 0 0 2 ,3 4 6 ,6 0 0 1,9 3 1 ,2 0 0 3 ,3 4 1 ,5 0 0 1 9 0 9 ______ 1 9 0 8 --------- 72,161 102,900 627,684 798,122 1,338,688 1,919,351 19 0 9 _______ 1 9 0 8 ______ 33,0 9 8 3 1,678 227,199 7 7 6,415 2 ,9 3 1 ,3 2 0 4 ,151,747 Cleveland— Peoria — 498,305 8,1 7 8 ,8 8 3 7 9 7,300 1 0 ,131,500 1 9 0 9 ______ 1 9 0 8 --------- 1 ,079,678 604,336 19 0 9______ 19 0 8______ 1,815,845 5 ,922,263 1,264,361 11,468,131 818,234 1,043 1 9 0 9 ______ 1908______ .31,713,050 3 7,707,863 3 ,2 5 9 ,7 4 6 2 ,6 5 3 ,7 7 0 19 0 9______ 1 9 0 8 ______ 1 3 ,374,200 14,813,707 6 ,1 2 5 ,9 6 0 4 ,7 6 3 ,4 0 0 M inneapolis — Kansas City — Total of all— 19 0 9 ______ 10,318,462 7 3 ,1 1 6 ,2 4 2 9 1 ,8 0 1 ,9 1 2 19 0 8.......... .. 1 0 ,001,110 8 9,585,251 9 8 ,2 8 8 ,9 2 2 As regards the cotton movement, which is never of exceptional proportions in July, it being the end of the crop year, the gross shipments overland were 38,689 bales in 1909, against 45,311 bales in 1908. The receipts at the Southern outports were fairly liberal for the season, at 93,744 bales; but this com pares with 129,092 in July 1908. R E C E IP T S O F COTTON A T S O U T H E R N P O R T S IN J U L Y , A N D FROM J A N U A R Y 1 TO J U L Y 31 1909, 1908 A N D 1907. Since January 1. J u ly . Ports. 1909. 1908. 1907. 1908. 1909. 1907. G alveston.................. bales. 32,873 6 5 ,378 16,251 1,226,962 1,154,264 1 ,620,087 104,263 82,453 234,157 Port Arthur, &c_................. 1,998 New Orleans------------------ 24,602 27,041 14,118 890,021 924,424 950,139 82,661 113,310 142,353 372 M obile-------------------------- 10,562 5 ,960 75,453 '81,246 92,672 1,117 Pensacola, & c--------. ---------6,456 9,116 404,560 384,159 4 0 9,918 6,916 Savannah — ...................__ 8,984 12,870 64,588 66,068 106,871 B runsw ick........................... 32,434 36,771 61,858 l",784 Charleston............................. "*208 l ‘,324 662 477 1,356 75 Georgetown........................ 100 65 71,936 132,635 114,245 152 Wilmington-------------------3 ,0 4 5 129 230,414 192,742 2 0 5,928 4,592 Norfolk ................................ 3,643 5,269 3 ,386 32,727 15,444 917 Newport News, & c_______ 1,564 1,649 T o ta l................................ 93,744 129,092 46,294 3 ,5 0 1 ,7 8 5 3 ,1 7 2 ,1 2 0 3 ,675 ,7 3 9 To complete our analysis, we furnish the following With reference to the Western grain movement, six-year comparisons of the earnings of leading roads, the receipts of corn and of barley at the Wbstern arranged in groups: E A R N IN G S O F N O R T H W E S T E R N A N D N O R T H P A C IFIC G R O U P primary markets ran somewhat ahead of those for the 1904. corresponding period last yeai, but the wheat receipts 1905. 1906. J u ly . 1909. 1907. 1908. $ $ and the oats receipts were considerably smaller, bad $ $ $ % Canadian P a c . 7,0 0 4 ,0 0 0 6 ,1 9 6 ,0 0 0 7 ,0 0 8 ,2 7 4 5 ,9 6 7 ,9 6 8 4 ,6 2 9 ,1 7 5 4,398,834 528,714 632,569 7760,270 7714,212 7649.902 7658,984 G t W ’n .* weather having retarded the movement to market. Chic 236,908 269,498 283,724 7329,912 7230,932 D ul So Sh & A t r297,564 2 ,7 1 5 4 4 ,9 7 6 6 4,450,494 5,6 4 0 ,0 5 4 5 ,023,951 3 ,8 9 5 ,1 6 0 3 ,67 Altogether the receipts of wheat, corn, oats, barley GIowreata CNeorn trSayl..st 5,1J-249,880 193,386 215,121 234,825 245,611 7231,713 246,815 297,160 31 8 ,5 7 5 7362,814 7.313,014 Minn & S t L . . 7.346,711 and rye at the Western primary points for the five M S t P & S S M 998,077 927,149 1,0 9 4 ,8 9 0 1,0 8 2 ,9 7 6 777,434 641,479 10,716,117 9,918,851 weeks ending July 31 reached only 43,125,281 bushels, 14,691,110 1 3 ,008,286 15,395,767 1 3 ,672,289 against 46,186,753 bushels in the corresponding * Results are based on 111 miles less road beginning with 1905. Actual figures of earnings are now used for comparison. _ period of 1908. In the following will be found the rb Figures are on new basis of accounting prescribed by the Inter-State Commerce Commission. details of the Western grain movement, in our usual E A R N IN G S O F M ID D L E A N D M ID D L E W E S T E R N G R O U P . form: J u ly . W E S T E R N F L O U R A N D G R A IN R E C E IP T S . Ing J u ly 3 1 . Chicago— 1 9 0 8 . . .......... M ilwaukee — 1908.............S t. Louis — 190 8 ............... Toledo— 1908.............Detroit— 1909 ______ 1908 _______ Cleveland— 1909............... 1908............... Peoria — 1909_______ 1 9 0 8 . . .......... D uluth — 190 9 ............... 1908_______ M inneapolis — 190 9 ............... 1908............... K ansas CUy— 1909_______ 19 0 8 ............... (bbls.) Wheat. (bush.) Corn. (bush.) Oats. (bush.) Barley. (bush.) Rye (bush.) 580,921 709,012 4 ,5 4 9 ,8 5 0 3 ,3 4 6 ,6 2 8 7 .5 1 8 ,2 5 0 6 ,2 5 0 ,1 5 5 4 ,8 1 0 ,8 1 0 0,0 2 3 ,9 8 4 1,5 0 6 ,7 0 0 95 9 ,3 5 0 68,000 79,071 214,550 2 4 4 ’l7 5 517,505 7 4 0,000 52 7 .0 0 0 24 2 ,0 0 0 6 0 0,000 75 1 ,2 0 0 280,700 601,633 22,000 77,400 157,465 226^240 2 ,7 6 4 ,3 8 6 3 ,3 2 2 ,5 6 1 1,6 3 2 ,5 8 5 1,5 3 1 ,6 7 5 1,2 0 9 ,7 1 0 1 ,453,555 3 1 ,2 0 0 24,700 7,081 13,288 5 5 5,500 1 ,350,800 2 0 5,600 26 7 ,1 0 0 9 0 ,0 0 0 188,200 17.932 20 ,200 88,101 118,524 224,024 2 1 0,312 174,261 144,334 5,539 5,267 9 7 ,895 338,483 463,386 146,124 501,351 35 1 ,6 4 4 3 ,200 4,500 864,823 1 ,009,700 473,393 73 9 ,5 0 0 8 1 ,000 4 6 ,000 16,000 18,000 619,300 424,100 622,271 2,1 0 5 ,1 5 4 266,739 3 7 9,614 8 2 ,156 320,194 7 5 ,870 3 ,6 7 0 3 0 ,419 3 ,3 9 5 .6 1 0 4 .8 3 5 ,6 0 0 4 8 0,500 35 9 ,8 7 0 6 12,400 92 1 ,4 5 0 816,430 263,280 53,892 3 8 ,840 4 ,8 0 4 ,5 5 0 6,0 4 6 ,0 8 0 9 5 1,350 561,000 3 4 2 ,0 0 0 3 0 0 ,5 0 0 1908. $ 7672,629 7442,321 Buff R och & P Chic Ind & L - . G T r ’k o f Canl Gr Tr W est 16 3,4 9 1 ,1 8 4 3 ,3 2 0 ,1 1 4 D Gr II & MJ Illin ois Central a 4 ,599,037 04,2 5 3 ,2 5 7 Tol Peor & W . 783,166 791,365 T o l S t L & W — 7300,577 7293,814 W abash .......... 72,215,821 72,0 7 7 ,9 7 7 1906. 1905. 1904. $ 7785,372 7499,134 $ 560,092 507,156 $ 766,487 498,181 $ 649,195 458,350 3 .9 5 0 .9 3 7 3,6 0 6 ,2 3 4 3 ,2 2 9 ,2 1 3 3 ,0 1 3 ,1 4 9 5 .1 1 1 .9 3 7 93,394 341,893 2 ,3 0 9 ,8 5 8 4,3 4 2 ,1 4 6 9 9 ,100 333.153 2 ,275,341 3 ,7 4 8 ,9 9 9 101,204 327,938 2,0 0 1 ,0 8 0 3 ,80 5 ,1 8 4 98,406 274,315 2 ,082,154 1907. T o t a l ............. 11,998,194 11,151,477 13,092,525 11.723,222 10,673,102 10,380,753 a Em braces som e large Item s of Income n o t previou sly Included In m o n th ly returns. 6 Includes Canada A tlantic beginning w ith O ctober 1904. 7 Figures are on the new basis of accounting prescribed b y th e In ter-S tate Com m erce Com m ission. J u ly . 178,000 2 1 2,400 1,784,197 17.573,068 13.134.257 9 ,1 9 3 ,5 3 9 10,956,522 1 9 0 8 ~............. 1,731,594 2 2 ,4 1 6 ,2 3 0 10,5 7 8 ,5 3 6 $ 7823,510 7484,899 E A R N IN G S O F S O U T H W E S T E R N G R O U P . 13,750 3,114 188,500 102,600 T o tal of all— 1909. ___ 3 ,0 4 9 ,9 7 4 1 ,973,947 173,843 261,518 Colo & S o u th .* D en & R io G r. In t & G t N o r .. Mo P a c & C Br S t L ouis & S W T ex a s A Pacific 1909. 1908. 1907. 1906. S $ $ $ r l , 2 2 7,336 71,2 4 0 ,3 6 9 7 1 ,1 9 0 ,2 4 4 1,017,221 r l . 94 4 ,4 0 0 7 1 ,6 2 7 ,5 0 0 7 2 ,0 2 7 ,3 3 7 7 1 ,6 9 6 ,7 0 6 562,279 5 7 1,622 7503,000 7561,000 4 ,006,000 3 ,6 2 1 ,0 0 0 4 ,1 1 2 ,5 6 2 3 ,8 6 1 ,3 4 9 7732,744 7860,694 7777,106 7803,867 7966,024 7 1 ,2 1 5 ,3 4 6 1,0 1 0 ,3 3 8 7995,994 1905. 1904. $ 867,138 1,505,427 486,522 3 ,662,091 670,181 822,379 S 675,053 1 ,321,638 406,071 3 ,34 4 ,6 0 5 641,981 759,240 9 ,538,597 8 ,7 3 4 ,9 9 9 9 ,9 7 7 ,8 0 5 8 ,8 8 0 ,6 3 7 8,0 1 3 ,7 3 8 7 ,1 4 8 ,6 4 8 Wl ~ iT F o r 1909. 1908, 1907, 1906 and 1905 Includes all affiliated lines e x cep t T rinity & Brazos V alley R R . For 1904 we have com b ined Colorado & Southern and f o r t /F igures are on the new basis of accounting prescribed by the Inter-State Com merce Commission. E A R N IN G S J u ly . 1909. OF SO U T H ER N 1906. 1907. 1908. GRO UP. $ $ $ $ 323,768 7361,987 7293,623 r282,385 A la G t S o u t h .. A la N O & T P 7243,841 7269,520 7212,106 7240,815 N O & N K -. 7107,446 7122,977 7117,611 7121,332 A la & V ick s. 7131,698 7115,450 7108.300 7106,298 V icks Sh & P 159,232 7141,788 117,143 7174,532 A tl Blrm & Atl 7954,364 7931.300 953 ,9 3 6 7881,300 C ent of Georgia Ches & O h lo .. 72,316,394 72,095,132 2 ,3 9 0 ,1 5 2 1,92 7 ,9 1 0 739 ,5 8 8 7633,181 7770,935 7661,087 C ln N O & T P . L ou lsv & Nash 73,822,535 73,6 80,353 74 ,1 2 6 ,0 3 7 3 ,7 1 1 ,7 6 0 7727,166 7908,485 8 04,350 7764,149 M obile & O h lo. S outhern R y - - 74,223,404 74,0 86,062 7 4 ,7 89,909 4 ,4 7 9 ,7 9 5 721.114 588,407 Y azoo AMIss V a655,598 a584,551 1905. 1904. $ 2 91,779 $ 236,439 230 ,5 2 8 102,391 101,213 89,301 877 ,9 6 0 1,7 7 5 ,6 1 3 613,386 3 ,3 0 7 ,9 8 2 703 ,4 3 5 4 ,0 2 2 ,9 5 4 528,636 178.631 95,775 98,545 7 7,376 745,651 1,671,503 557,441 2 ,8 5 9 ,8 4 0 598,364 3,71 6 ,1 1 7 520,844 T o t a l ............. 14,249,829 13,611,173 1 5 ,7 06,410 14,113,454 12,645,178 11,356,526 a Inclu des som e large Item s of Income n o t p reviou sly Included In m o n th ly returns. r T h ese figures are on th e new basis o f acco u n tin g prescribed b y the In ter-S tate Com m erce Com m ission. G R O S S E A R N IN G S A N D M IL E A G E I N J U L Y . M ilea g e. Gross E a r n in g s . A la b a m a G r e a t S o u t h e r n . A la N e w O rl & T e x P a c — N e w O rl & N o r t h e a s t ’n A la b a m a & V ic k s b u r g . V ic k s S lir e v e & P a c ific . A t la n t a B lr m & A t l a n t ic . B e lle f o n t e C e n t r a l---------- -B u lla lo R o c h & P i t t s ____ C a n a d ia n N o r t h e r n .............. C a n a d ia n P a c if ic . ---------C e n tr a l o f G e o r g ia ---------C h a tt a n o o g a S o u t h e r n — C h e s a p e a k e & O h io -------C h ic a g o & A l t o n _________ C h ic a g o G r e a t W e s t e r n . . C h ic a g o I n d la n a p & L o u . C in N e w O rl & T e x P a c _ _ C o lo r a d o & S o u t h e r n ____ D e n v e r & R io G r a n d e .. D e t r o it & M a c k in a c _____ D e t r o it T o l & I r o n t o n ___ A n n A r b o r ________ D u lu t h S o S h & A t l ___ G eo r g ia S o u t h & F l a . . G ran d T r u n k o f C a n ____ G ran d T r u n k W e s te r n D e t G r H a v & M ilw __ C an ada A t la n t ic .. G re a t N o r t h e r n — E a s te r n o f M in n e so ta M o n ta n a C e n t r a l. 1 I llin o is C e n tr a l In ter n a t & G t N o r th e r n . I o w a C e n t r a l. . K a n s a s C ity M e x & O rie n t L o u is v ille & N a s h v i l l e . . . M a c o n & B i r m i n g h a m .. . M in era l R a n g e ___ M in n & S t L o u is ................... M in n e a p S t P & S S M . . C h ic a g o D i v i s i o n _______ M o P a c & I r o n M o u n t a in . C e n tr a l B r a n c h ________ M o b ile & O h io ____________ N e v a d a - C a l- O r e g o n ........... R io G r a n d e S o u t h e r n ____ S t L o u is S o u t h w e s t e r n ___ S o u th e r n R a i l w a y ________ T e x a s C e n tr a l____________ T e x a s & P a c if ic __________ T o le d o P e o r ia & W e s te r n T o le d o S t L o u is & W e s t ’n W a b a s h ________ ________ Y a z o o & M iss V a l l e y ____ In c . ( + ) or D ec. (— ) . 1 9 0 9 . 1909. 1908. $ 2 8 2 ,3 8 5 $ 2 9 3 ,6 2 3 $ — 1 1 ,2 3 8 309 309 2 4 0 ,8 1 5 1 2 1 ,3 3 2 1 0 6 ,2 9 8 1 7 4 ,5 3 2 4 ,1 8 9 8 2 3 ,5 1 0 8 4 3 ,5 0 0 7 ,0 0 4 ,0 0 0 8 8 1 ,3 0 0 6 ,4 2 7 2 ,3 1 6 ,3 9 4 1 ,0 1 5 ,2 4 4 6 4 9 ,9 0 2 4 8 4 ,8 0 9 6 6 1 ,0 8 7 1 ,2 2 7 ,3 3 6 1 .9 4 4 ,4 0 0 1 0 2 ,1 2 6 1 0 9 ,9 6 2 1 5 4 ,1 4 4 2 9 7 ,5 6 4 1 6 3 ,0 4 9 2 1 2 ,1 0 6 1 1 7 ,6 1 1 1 0 8 ,3 0 0 1 4 1 ,7 8 8 4 ,9 5 3 6 7 2 ,6 2 9 7 2 8 ,5 0 0 6 ,1 9 6 ,0 0 0 9 3 1 ,3 0 0 1 1 ,5 0 2 2 ,0 9 5 ,1 3 2 1 ,0 5 7 ,0 3 6 6 5 8 ,9 8 4 4 4 2 ,3 2 1 6 3 3 ,1 8 1 1 ,2 4 0 ,3 6 9 1 ,6 2 7 ,5 0 0 1 0 3 ,3 4 7 1 1 0 ,5 0 6 1 4 1 ,4 0 6 2 3 0 ,9 3 2 1 3 9 ,9 6 0 + 2 8 ,7 0 9 + 3 ,7 2 1 — 2 ,0 0 2 + 3 2 ,7 4 4 — 764 + 1 5 0 ,8 8 1 + 1 1 5 ,0 0 0 + 8 0 8 ,0 0 0 — 5 0 ,0 0 0 — 5 ,0 7 5 + 2 2 1 ,2 6 2 — 4 1 ,7 9 2 — 9 ,0 8 2 + 4 2 ,5 7 8 + 2 7 ,9 0 6 — 1 3 ,0 3 3 + 3 1 6 ,9 0 0 — 1 ,2 2 1 — 544 + 1 2 ,7 3 8 + 6 6 ,6 3 2 + 2 3 ,0 8 9 195 142 171 642 27 568 3 ,2 2 4 9 ,4 2 6 1 ,9 1 6 99 1 ,8 9 6 998 818 616 336 1 ,9 5 2 2 ,5 6 1 348 438 300 593 395 195 142 171 571 27 568 2 ,8 7 4 9 ,2 3 0 1 ,9 1 3 99 1 ,8 3 9 1 ,0 0 5 81 8 61 7 336 1 ,9 5 1 2 ,5 4 6 344 486 300 592 395 3 ,4 9 1 ,1 8 4 3 ,3 2 0 ,1 1 4 + 1 7 1 ,0 7 0 4 ,5 2 8 4 ,5 2 8 5 ,1 4 4 ,0 7 6 4 ,4 5 0 ,4 9 4 + 6 9 4 ,4 8 2 6 ,9 6 2 6 ,6 4 3 4 ,5 9 9 ,0 3 7 5 6 1 ,0 0 0 2 4 9 ,8 8 0 2/91,846 3 ,8 2 2 ,5 3 5 1 1 ,1 8 4 7 3 ,2 5 7 3 4 6 ,7 1 1 9 9 8 ,0 7 7 7 1 3 ,8 7 3 3 ,8 8 4 ,0 0 0 1 2 2 ,0 0 0 7 6 4 ,1 4 9 4 3 ,7 0 2 4 4 ,6 9 3 8 0 3 ,8 6 7 4 ,2 2 3 ,4 0 4 1 /49,078 9 9 5 ,9 9 4 8 3 ,1 6 6 3 0 0 ,5 7 7 2 ,2 1 5 ,8 2 1 6 5 5 ,5 9 8 4 ,2 5 3 ,2 5 7 5 0 3 ,0 0 0 2 3 1 ,7 1 3 1/51,321 3 ,6 8 0 ,3 5 3 1 1 ,3 8 7 7 1 ,1 9 9 3 1 3 ,0 1 4 9 2 7 ,1 4 9 6 5 1 ,6 5 0 3 ,5 0 2 ,0 0 0 1 1 9 ,0 0 0 7 2 7 ,1 6 6 3 1 ,9 8 0 4 9 ,9 1 3 7 7 7 ,1 0 6 4 ,0 8 6 ,0 6 2 1 /50,476 0 6 6 ,0 2 4 9 1 ,3 6 5 2 9 3 ,8 1 4 2 ,0 7 7 ,9 7 7 5 8 4 ,5 5 1 + 3 4 5 ,7 8 0 + 5 8 ,0 0 0 + 1 8 ,1 6 7 + 4 0 ,5 2 5 + 1 4 2 ,1 8 2 — 20 3 + 2 ,0 5 8 + 3 3 ,6 9 7 + 7 0 ,9 2 8 + 6 2 ,2 2 3 + 3 8 2 ,0 0 0 + 3 ,0 0 0 + 3 6 ,9 8 3 + 1 1 ,7 2 2 — 5 ,2 2 0 + 2 6 ,7 6 1 + 1 3 7 ,3 4 2 — 1 ,3 9 8 + 2 9 ,9 7 0 — 8 ,1 9 9 + 6 ,7 6 3 + 1 3 7 ,8 4 4 + 7 1 ,0 4 7 4 ,5 1 9 1 ,1 5 9 55 8 656 4 ,4 0 1 105 12 9 1 ,0 2 8 2 ,3 9 4 1 ,0 6 4 6 ,1 0 1 388 1 ,0 9 8 184 180 1 ,4 7 0 7 ,0 5 0 268 1 ,8 8 5 247 451 2 ,5 1 4 1 ,3 7 1 4 ,5 0 9 1 ,1 5 9 558 543 4 ,3 6 5 105 128 1 ,0 2 7 2 ,3 0 9 1 ,0 2 3 6 ,0 9 1 388 926 164 180 1 ,4 7 0 7 ,0 1 3 268 1 ,8 8 5 2 17 451 2 ,5 1 4 1 ,3 7 1 + 8 ,2 9 4 — 4 ,2 3 7 + 6 9 ,1 0 0 + 738 + 2 2 9 ,2 4 8 736 918 32 1 263 5 ,2 7 3 736 91 8 321 263 5 ,1 6 4 V T h e s e fig u r e s a r e fo r t h e fir s t th r e e w e e k s o n ly In b o t h y e a r s . G R O SS E A R N IN G S FR O M J A N U A R Y 1 TO J U L Y 3 1 . N a m e o f R oad. A la b a m a G r e a t S o u th e r n A la N e w O rl & T e x P a c — N e w O rl & N o r t h e a s te r n A la b a m a & V ic k s b u r g . V ic k s S h r e v & P a c i f i c .. A t la n ta Illr m & A t l a n t i c . . B e lie f o n t c C e n t r a l.................... B u lla lo R o c h & P itt s b u r g h C a n a d ia n N o r t h e r n ................. C a n a d ia n P a c if ic ---------------C e n tr a l o f G e o r g ia ................... C h a tt a n o o g a S o u t h e r n ------C h e s a p e a k e & O h io ........... .. C h ic a g o & A lt o n ........... .......... C h ic a g o G r e a t W e s t e r n -----C h ic a g o I n d & L o u is v ille . . C in e N e w O rl & T e x P a c . . C o lo r a d o & S o u t h e r n -------D e n v e r & R io G r a n d e -------D e t r o it & M a c k in a c ---------D e t r o it T o le d o & I r o n t o n . A n n A r b o r .............. ............... D u lu t h S o u t h S h o r e & A t l . G e o r g la S o u t h e r n & F l a — G ra n d T r u n k o f C a n a d a —■' G ra n d T r u n k W e s t e r n . D e t Gr H a v e n & M U w . C a n a d a A t l a n t i c _______ G r e a t N o r t h e r n ...................... E a s te r n o f M in n e s o t a .. M o n ta n a C e n t r a l_______ I llin o is C e n t r a l_____________ I n t e r n a t ’l & G t N o r t h e r n .. I o w a C e n t r a l _______________ K a n s a s C ity M c x & O r ie n t L o u lv llle & N a s h v i l l e ____ 1909. 1908. Increase. D ecrease. $ 1 8 9 ,8 1 8 2 ,0 2 8 ,0 2 7 1 ,8 3 8 ,2 0 9 1 ,8 0 4 ,6 1 1 8 6 7 ,2 1 3 7 7 9 ,5 8 6 1 ,2 3 2 ,4 0 1 3 3 ,4 4 1 4 ,2 6 3 ,1 0 7 4 ,8 7 7 ,3 0 0 4 2 ,6 0 5 ,6 6 2 6 ,0 5 7 ,6 7 7 4 1 ,9 7 5 1 5 ,5 4 4 ,1 9 0 6 ,8 4 8 ,4 1 1 4 .3 9 5 .3 6 5 3 ,0 3 2 ,1 3 4 4 ,5 9 9 ,9 6 3 8 ,2 1 1 ,3 8 7 1 1 ,8 2 6 ,4 4 7 6 9 2 ,4 0 2 7 5 9 ,8 5 0 9 6 8 ,6 1 3 1 ,6 3 3 ,0 4 3 1 ,1 9 9 ,5 4 7 1 ,5 1 6 ,5 3 7 8 3 1 ,2 2 0 7 6 2 ,6 2 8 8 2 9 ,3 2 3 3 3 ,4 9 4 3 ,6 4 1 ,6 7 2 4 ,4 3 3 ,0 0 0 3 6 ,6 9 4 ,6 7 6 5 ,9 5 9 ,3 8 7 5 1 ,0 6 0 1 2 ,9 6 2 ,3 0 6 6 ,5 7 9 ,0 9 3 4 ,3 2 7 ,3 1 6 2 ,7 1 4 ,6 2 0 4 ,1 0 8 ,7 3 0 7 ,6 7 9 ,6 8 9 1 0 ,0 7 1 ,5 1 2 6 5 4 ,3 2 1 7 4 7 ,0 5 7 9 3 2 ,3 5 9 1 ,4 2 1 ,7 9 9 1 ,0 3 4 ,4 4 9 2 1 ,7 1 7 ,1 1 7 2 0 ,9 1 4 ,6 5 6 8 0 2 ,4 6 1 2 7 ,9 9 5 ,8 9 1 2 4 ,3 3 7 ,0 9 3 3 ,6 5 8 ,7 9 8 3 2 ,5 0 1 ,7 2 0 4 ,3 1 3 ,5 0 3 1 ,7 3 0 ,4 3 0 1/80 9 ,8 4 2 2 5 ,7 8 1 .3 9 8 3 0 ,3 3 6 .6 8 8 3 ,6 5 4 ,0 7 0 1 .6 1 5 ,1 0 1 1/45 1 ,0 3 1 2 3 ,7 3 9 ,4 1 0 2 ,1 6 5 ,0 3 2 6 5 9 ,4 3 3 1 1 5 ,3 2 9 3 5 8 ,8 1 1 2 ,0 4 1 ,9 8 8 2 8 8 ,0 7 4 3 5 ,9 9 3 1 6 ,9 5 8 4 0 3 ,0 7 8 6 2 1 ,4 3 5 4 4 4 ,3 0 0 5 ,9 1 0 ,9 8 6 9 8 ,2 9 0 2 ,5 8 1 ,8 8 4 2 6 9 ,3 1 8 6 8 ,0 4 9 3 1 7 ,5 1 4 4 9 1 ,2 3 3 5 3 1 ,6 9 8 1 ,7 5 4 ,9 3 5 3 8 ,0 8 1 1 2 ,7 0 3 3 6 ,2 5 4 2 1 1 ,2 4 4 1 6 5 ,0 0 8 1909. M a c o n & B ir m in g h a m _____ M in e r a l R a n g e _____________ M in n e a p o lis & S t L o u is ___ M in n e a p S t P a u l & S S M . M isso u r i P a c ific & I r o n M t . C e n tr a l B r a n c h _________ M o b ile & O h io _____________ N e v a d a - C a llfo r n la -O r e g o n . R io G r a n d e S o u t h e r n _____ S t L o u is S o u t h w e s t e r n ____ S o u t h e r n R a i l w a y . ................ T e x a s C e n t r a l_______________ T e x a s & P a c if ic ____________ T o le d o P e o r ia & W e s t e r n . . T o le d o S t L o u is & W e s t e r n . W a b a s h ______________ ______ Y a z o o & M is s is s ip p i V a lle y 5 7 5 ,9 2 8 4 7 1 ,7 8 5 2 ,2 4 0 ,0 3 6 6 ,4 8 3 ,0 4 2 2 5 ,4 3 0 ,9 0 2 8 9 1 ,0 0 0 5 ,5 6 7 ,0 5 3 2 4 7 ,1 0 9 2 9 8 ,8 3 5 5 ,6 0 4 ,9 4 2 2 9 .3 0 5 ,8 5 8 j /5 5 6 ,5 7 9 7 ,6 1 4 ,1 6 1 5 9 0 ,9 5 1 1 ,9 2 2 ,9 8 3 1 4 ,7 2 4 ,6 6 8 5 ,3 6 1 ,6 9 3 1908. $ 7 5 ,4 8 6 4 5 6 ,5 3 4 1 ,9 7 0 ,7 1 9 5 ,5 7 0 ,8 5 3 2 1 ,8 8 4 ,2 5 1 7 8 8 ,0 0 0 4 ,9 9 1 ,7 1 4 1 7 7 ,3 9 7 3 1 7 ,3 8 1 4 ,9 4 0 ,3 4 3 2 6 ,8 4 2 ,4 0 9 J /4 0 8 ,3 5 4 6 ,9 6 3 ,5 8 3 6 7 7 ,0 3 1 1 ,9 1 3 ,8 9 8 1 3 ,6 7 4 .8 5 9 5 ,3 3 0 ,2 3 3 In crea se. D ecrea se. $ $ 442 1 5 ,2 5 1 2 6 9 ,3 1 7 9 1 2 ,1 8 9 3 ,5 4 6 ,6 5 1 1 0 3 ,0 0 0 5 7 5 ,3 3 9 6 9 ,7 1 2 6 6 4 ,5 9 9 2 ,4 6 3 ,4 4 9 1 4 8 ,2 2 5 6 5 0 ,5 7 8 9 ,0 8 5 1 ,0 4 9 ,8 0 9 3 1 ,4 6 0 T o t a l (51 r o a d s ) . .............. .. 3 4 6 ,5 3 9 ,7 7 8 3 1 1 ,8 5 5 ,5 5 1 3 4 ,7 9 7 ,9 9 1 N e t In c r ea se ( 1 1 .1 2 % ) ____ & 4 ,6 8 4 ,2 2 7 M e x ic a n R o a d s ( N o t ln c l u d e d In t o t a l) — I n t e r o c e a n ic o f M e x ic o ____ 4 ,4 0 0 ,4 6 8 4 ,1 3 1 ,9 5 3 M e x ic a n I n t e r n a t io n a l____ 4 ,4 1 8 ,4 1 7 4 ,1 2 6 ,0 9 7 M e x ic a n R a i l w a y ___________ 4 ,5 4 6 ,5 0 0 4 ,3 9 4 ,6 0 0 M e x ic a n S o u t h e r n _________ 7 4 7 ,2 2 9 7 9 3 ,6 0 2 N a t io n a l R y s o f M e x ic o ___ 2 7 ,0 2 9 ,1 1 0 2 5 ,6 0 1 ,8 2 9 - _ - 1 8 ,5 4 6 8 6 ,0 8 0 ___ _ 1 1 3 ,7 6 4 2 6 8 ,5 1 5 2 9 2 ,3 2 0 1 5 1 ,9 0 0 4 6 ,3 7 3 1 ,4 2 7 ,2 8 1 -- - V T h e s e fig u r e s a r e d o w n t o t h e e n d o f t h e t h ir d w e e k o n l y In b o t h y e a r s 1908. T o t a l (52 r o a d s ) . ------- 5 3 ,9 0 4 ,0 0 4 4 0 ,7 2 1 ,0 7 1 + 4 ,1 8 2 , 9 3 3 7 8 ,6 8 0 7 7 ,1 9 3 N e t In c r ea se ( 8 .4 2 % ) ------M e x ic a n R o a d s ( N o t In e lu d e d In t o ta l) — 5 5 2 ,7 3 6 5 4 4 ,4 4 2 I n t e r o c e a n ic o f M e x ic o . . 5 5 6 ,5 9 1 5 5 2 ,3 5 4 M e x ic a n I n t e r n a t io n a l___ 6 7 3 ,7 0 0 6 0 4 ,0 0 6 M e x ic a n R a i l w a y ________ 1 0 8 ,1 8 2 1 0 8 ,9 2 0 M e x ic a n S o u t h e r n ................. N a t R y s o f M e x ic o _______ 3 ,8 7 0 ,2 6 7 3 ,6 4 1 ,0 1 9 N a m e o f R oad. 9 ,0 8 5 ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S. — The public sales of bank stocks this week aggregate 46 shares, of which 30 shares were sold at auction and 16 shares at the Stock Exchange. Only one lot of 6 shares of trust company stock was sold. A sale of 10 shares of Irv ing National Exchange Bank stock was made at 202*4; the last previous public sale was in April 1908, at 175. S h a res. B A N K S — N ew Y o rk . L o w . H ig h . C lose. L a s t p revio u s sa le *16 C ity B a n k , N a tio n a l________ 384 384 384 J u ly 1909— 383 10 I r v in g N a t. E x ch . B a n k ___ 202 % 202 X 202 X A p ril 19 0 8 — 175 20 M erch an ts’ N a t. B a n k _____ 163 X 163 X 163 X J u n e 1909— 163 T R U S T C O M P A N Y — N ew Y o rk . 6 G u a r d ia n T ru st C o.......... ......... 164 164 164 Aug 1909— 146 * S old a t th e S to ck E x ch a n g e. — It has been decided by Secretary of the Treasury MacVeagh that none of the issue of Panama bonds provided for under the Tariff Act will be availed of before the next session of Congress. Any exigencies that may arise in the meantime will be met through 3% Treasury certificates limited to one year. This is done in order to protect the outstanding 2% bonds, which would suffer in the event of the issuance of any of the newly-authorized bonds, which may bear 3% interest. The Secretary, in announcing his decision in the matter, says: T h e T ic a su r y D ep a rtm en t w ill n o t Issue a n y of th e new P a n a m a b onds w hich w ere a u th orized a t th e sp ecia l sessio n of Congress before C ongress m eets a g a in a n d has had th e o p p o r tu n ity to ch a n g e th e circu la tio n t a x . U n d er ex istin g la w , th e ta x on circu la tio n secu red b y 3% b ond s is 1% ,. w hile X % Is th e ta x on circu lation secu red b y 2% b ond s. T h e circu lation p riv ileg es o f th e n ew b ond s w ou ld , th erefore, b e superior to th o se of th e 2% b o n d s— a n d w ould p roduce a d iscrim in a tio n a g a in st th e la tte r. T h e S ecreta ry feels th a t It Is a d u ty of th e G overn m en t t o see th a t th e 2%. b ond s h a v e th e p ro tectio n of a p a rity . T h e C onference C o m m ittee co n clud ed n o t to rea d ju st th e circu lation ta x e s a t th is tim e . T h e T reasu ry D ep a rtm en t w ill therefore sell o n ly 3% certifica tes w ith a term lim ited to on e y ea r, If It shall becom e n ecessary before C ongress a c ts , to replen ish theT reasu ry’s cash . — Comptroller of the Currency Lawrence O. Murray is still directing his efforts toward perfecting the system of supervision of institutions under the control of his depart ment. To this end he has issued instructions that the na tional bank examiners shall forward to his office a list of national banks in their respective districts which are affiliated with State institutions and occupy the same building, or are closely related in their business affairs. He has also di rected that if possible the next examination by a national bank examiner of such institution be made in conjunction with that of the State examiner. In this movement the Comptroller is actuated by conditions disclosed in bank failures in the past, it having in some instances been revealed that the insolvency of component members of allied institu tions were long concealed by the shifting of assets between the institutions to meet the exigencies of an examination of each, the insolvent condition not being disclosed until the making of a joint examination by national and State exam iners. The Comptroller is also said to be developing his ideas with respect to the co-operation of national bank ex aminers and clearing-house examiners. It is further stated that he has in addition decided to test the experiment of shifting his examiners, so that each may work an entirely new territory, and has ordered a general transfer of the na tional examiners. —To forestall any action which might be brought by op ponents of the bank guaranty law of Kansas to test its v a l id it y , a fr ie n d ly s u it w a s filed in t h e S u p r em e C ou rt on t h e 7 th i n s t . b y S t a t e A tto r n e y -G e n e r a l F . S . J a c k s o n . Mr. J a c k s o n in h is a c t io n a sk s f or a n a lte r n a tiv e w r it o f m a n d a m u s to c o m p e l S t a t e B a n k C o m m issio n er J . N . D o lle y a n d S t a t e T r e a s u r e r M ark T u lle y to e n fo r ce th e la w , a n d for a n in ju n c t io n r e s tr a in in g B . P . W a g g e n e r o f A tc h is o n , e x S e n a to r C h ester I . L o n g , J o h n L . W e b ste r o f N e b r a sk a , t o g e th e r w it h th e S t a t e b a n k s w h ic h h a v e n o t m a d e a p p li c a t io n fo r p a r tic ip a tio n in th e la w , a n d t h e n a tio n a l b a n k s of t h e S t a t e fr o m c o m m e n c in g a n y s u it in th e m a tte r , or in a n y w a y h in d e r in g th e S t a t e o ffic ia ls in t h e e n fo r c e m e n t o f th e la w . M r. W e b ste r , o n e o f th e d e fe n d a n ts n a m e d , w a s o n e o f t h e p r in c ip a ls in th e a c t io n in s t it u t e d to t e s t th e c o n s titu t io n a lit y o f th e N e b r a sk a g u a r a n t y la w , w h ic h r e s u lte d in t h e o b ta in in g o f a n in ju n c tio n t e m p o r a r ily r e s tr a in in g th e o p e r a tio n o f t h a t la w . I t is s t a t e d t h a t 189 n a tio n a l b a n k s a n d 301 S t a t e b a n k s a re m a d e d e fe n d a n ts in th e K a n s a s s u it. I n th e p e t it io n o f th e A tto r n e y -G e n e r a l it is c h a r g ed th a t: N o tw ith sta n d in g th e p rovision s of sa id la w , J . N . D o lle y , th e B an k Com m ission er, an d Mark T u lle y , S ta te T reasurer, In th e ad m in istratio n of said la w , h a v e w h olly disregarded Its p rovision s an d refu sed an d con tin u e to refu se to th e n ation al b anks of K an sas th e righ t to p articip ate In th e b enefits o f said A ct: th a t said officers are aid ed an d a b e tte d In th eir unw arranted refu sal to o b ey said law b y all of th e n ation al b anks an d all o f th e S ta te b a n k s m ad e d efen d an ts In th is case; th a t th e n a tio n a l banks an d certain S ta te b an k s, th eir officers, d irectors an d stock h old ers h a v e con sp ired to g eth er to com p el and coerce th e said D olley an d T u lle y , S ta te officers, t o v io la te th e p rovision s o f th e law; th a t for th e purpose of com p ellin g a n d a id in g said officers to v io la te th eir d u ties, certain a p p lica tio n s w ere m ade t o th e C om ptroller of th e C urrency for th e purpose o f secu ring a ru lin g from h im as to th e rights of said b anks to p artic ip a te In said g u a ra n ty fu n d , and th a t th e C om ptroller rendered a d ecision h old in g th a t th e y could n o t, w h ich d ecision w as u nfou n d ed In law and assu m ed to s e t asid e and h old fo r n au gh t th e co n stitu tio n a lity of th e A ct; th a t said n ation al b anks h ave organ ized a n asso cia tio n for th e purpose o f h in d erin g th e op eratio n of sa id la w an d h a v e con fed erated w ith B . P . W aggen er, C hester I . L ong a n d Joh n L . W eb ster for th e purpose of brin gin g d ivers s u its In th e courts to hinder a n d d elay said officers In perform ing th eir d u ty; th a t said con spiracy on the p art of W aggen er, L ong an d W eb ster an d said n ation al and S ta te banks h as b een p articip ated In b y certain b ank s w h o lly w ith o u t th e ju risd iction o f th e S ta te of K ansas to h inder said officers In p u ttin g said law Into op era tio n , n o t o n ly as to n ation al b an k s, b u t as to all of th e S ta te b anks as well; th a t th e d efen d an ts do n ot Intend to bring a n y a ctio n In good fa ith to test th e le g a lity of th e law , b u t for th e purpose o f p rev e n tin g said law from h a v in g a n y op eration w ith in th e S ta te , offering th e ex c u se th a t th e law d en ies n a tion al b anks eq u al p rotection of th e law . T h e K a n sa s B a n k e r s ’ D e p o s it G u a r a n ty & S u r e ty C o ., w h ic h w a s in te n d e d to p r o v id e p r o t e c t io n for th e d e p o s its o f th e n a tio n a l b a n k s , h a s n o t a s y e t b e g u n b u s in e s s . T h e a p p lic a tio n o f th e c o m p a n y to d o b u s in e s s w a s d e n ie d b y S t a t e In su r a n c e C o m m issio n er C. W . B a r n e s o n t h e 1 0 th in s t ., t h is a c t io n b e in g fo llo w e d b y th e filin g of a p e t it io n b y th e a t t o r n e y s o f th e c o n c e r n fo r a w r it o f m a n d a m u s to c o m p e l th e S u p e r in te n d e n t to a d m it th e c o m p a n y in K a n s a s . W e lea rn fr o m th e K a n s a s C ity “ S t a r ” t h a t M r. B a r n e s , in e x p la n a tio n o f h is a c t io n , p o in ts o u t t h a t t h e la w m a k e s it n e c e s sa r y for s u c h c o r p o r a tio n s to c o m p ly w ith t h e A c ts g o v e r n in g life in s u r a n c e c o m p a n ie s , w h ic h p r o v id e s , i t is s t a t e d , t h a t n o c o m p a n y sh a ll b e p e r m itte d to e n g a g e in b u s in e s s u n til all o f its c a p ita l s t o c k sh a ll b e su b s c r ib e d fo r . L ife in su ra n ce c o m p a n ie s , it is s a id , a re req u ire d to d e p o s it w it h th e S t a t e T r ea su r er 8 1 0 0 ,0 0 0 , a n d th is s e c tio n , t h e S u p e r in te n d e n t c la im s , is a p p lic a b le to t h e B a n k e r s ’ C o m p a n y . I t is a lso a d d e d t h a t th e fo r m o f p o lic y is n o t s a t is f a c t o r y to Mr. B a r n e s , th o u g h it is a d m it t e d t h a t it is b e lie v e d th is ca n e a s ily b e a d ju s te d if th e o th e r o b je c tio n s a re o v e r c o m e .. O ne o f th e d ir e c to r s o f t h e o r g a n iz a tio n w a s q u o te d in t h e T o p e k a “ C a p ita l” o f t h e 1 0 th in s t . a s s a y in g t h a t t h e S t a t e of fic ia ls a re d e m a n d in g t h a t t h e y d o n o t in su re d e p o s it s b ea r in g o v e r 3 % in te r e s t (a s in th e c a se o f th e g u a r a n ty la w ) , a n d , fu r th e r , t h a t t h e y d o n o t in su r e d e p o s its o f o n e b a n k h e ld b y a n o th e r . I t is sa id t h a t in v ie w o f th is a t t it u d e th e o f fic ia ls o f th e c o m p a n y a re g iv in g c o n sid e r a tio n to a p la n to c h a n g e th e o ffic e s o f th e o r g a n iz a tio n fr o m T o p e k a to K a n sa s C ity , M o. I f th e c h a n g e is m a d e , it is s t a t e d , th e c o m p a n y w ill c o n tifiu e to g u a r a n te e d e p o s its in K a n sa s . — A lth o u g h th e la w g o v e r n in g t h e g u a r a n t y o f d e p o s its in T e x a s b e c a m e e ffe c tiv e o n t h e 9 t h i n s t ., t h e tw o p la n s p ro v id in g fo r t h e p r o te c tio n o f d e p o s its d o n o t b e c o m e o p e r a tiv e u n t il J a n . 1 n e x t , a n d u n til t h e la s t - n a m e d d a te th e b a n k s w ill n o t b e p e r m itte d to a d v e r tis e t h e ir c o n n e c tio n w ith th e g u a r a n t y fu n d . T h is r u lin g w a s g iv e n in r e s p o n s e to a n in q u ir y a s to w h e th e r a b a n k m ig h t n o w a d v e r t is e t h a t a d v a n t a g e h a d b e e n ta k e n o f t h e s c h e m e . T h e in s titu tio n s h a v e u n t il O c t. 1 to d e te r m in e w h ic h o f th e p la n s — th e a s s e s s m e n t or t h e b o n d p la n o f g u a r a n t y — t h e y w ill a c c e p t. I t is s t a t e d t h a t b a n k s w h ic h m a d e a p p lic a tio n to c o m e u n d e r t h e g u a r a n ty p la n s b e fo r e t h e la w w e n t in t o e ffe c t a c t e d p r e m a tu r e ly a n d w ill b e o b lig e d t o a g a in e n te r a n a p p lic a tio n . — W illia m H . S m ith o f P h ila d e lp h ia h a s b e e n a p p o in te d C o m m issio n er o f B a n k in g o f t h e S t a t e o f P e n n s y lv a n ia b y G o v . S tu a r t. M r. S m ith , w h o h a s b e e n a S t a t e b a n k e x a m in e r for a n u m b e r o f y e a r s , su c c e e d s J o h n A . B e r k e y , w h o se te rm of o ffic e r e c e n tly e x p ir e d . — T h e fu tu r e co u r se o f th e N e w Y o r k M er ca n tile E x c h a n g e w ith reg a rd to q u o t a t io n s is to b e d e te r m in e d a t a m e e tin g o f th e m e m b e r s t o b e h e ld o n T u e s d a y n e x t , t h e 1 7 th in s t. T h e c r itic ism s d ir e c te d to w a r d s t h e E x c h a n g e b y t h e H u g h e s C o m m issio n a p p o in te d to i n v e s t ig a t e t h e s u b j e c t o f s p e c u la tio n are r e s p o n s ib le fo r t h e p r o p o s e d a c tio n b y it s m e m b e r s, t h e r e p o r t o f t h e c o m m it t e e h a v in g r e c o m m e n d e d , a s in t h e c a se o f t h e N e w Y o r k M etal E x c h a n g e , t h a t in a sm u c h a s t h e q u o t a t io n s are n o t a reco rd o f a c tu a l tr a n s a c tio n s , th e c h a r ter b e r e p e a le d . T h e c a ll fo r th e m e e tin g is m a d e i n th e f o llo w in g circu la r le t t e r , s e t t in g o u t th e co u r se s o p e n to t h e E x c h a n g e in t h e m a tter : • 'T o the M em b ers o f N ew Y o rk M erca n tile Exchange: “ In pursuance of a reso lu tio n , a d o p ted b y th e E x e c u tiv e C o m m ittee a t Its la s t m eetin g , a sp e cia l m eetin g of th e E x ch a n g e w ill be h eld on T u esd a y , A u g . 17, a t 10:30 a . m ., to d ecide w h eth er or n ot o fficia l q u o ta tio n s sh a ll be co n tin u ed . “ T h e q u estio n Is brou ght before th e m em b ersh ip of th e E x ch a n g e b ecau se o f th e cr iticism of G overnor H u g h es’s In v estig a tin g co m m itte e, w hich Is q u o te d from th e report of th a t co m m itte e as follow s: “ In th e case o f th e oth er tw o c o m m o d ity ex c h a n g es, th e M ercantile and th e M eta l, n ew problem s arise. A lth ou gh q u o ta tio n s of th e p rod ucts a p p erta in in g to th ese ex ch a n g es are p rin ted d a lly In th e p u b lic press, t h e y are n o t a record of a ctu a l tran saction s a m o n g m em b ers, eith er fo r'Im m ed ia te or fu tu r e d eliv ery . “ I t Is tru e th a t on th e M ercantile E x ch a n g e th ere are so m e d esu lto ry o p era tio n s In so-called fu tu re co n tra cts In b u tte r and eg g s, th e character of w h ich Is, h o w e v er, rev ea led b y th e fa ct th a t n eith er d eliv ery b y th e seller nor a cc ep ta n ce b y th e b u y er Is obligatory; th e co n tra ct m a y be vo id ed b y cith er p a rty b y p a y m en t o f a m axim u m p e n a lty of 5% . T h ere arc n om inal ‘c a lls ,’ b u t tra d in g Is co n fessed ly rare. T h e p ub lished q u o ta tio n s are m ade b y a co m m itte e, th e m em b ersh ip o f w h ich Is ch an ged p erio d ica lly . T h a t co m m itte e Is a ctu a lly a close corporation o f th e b u yers of b u tte r a n d eggs* a n d th e prices rea lly represent th eir v ie w s as to th e rates a t w hich th e trad e g en er a lly shou ld be ready to b u y from th e farm ers a n d co u n try d ea lers. T h ese p ractices resu lt In d eceiv in g buyers a n d sellers. T h e m ak in g a n d p u b lish in g of q u o ta tio n s for co m m o d ities or secu rities b y groups o f m en ca ll in g th em selv es a n ex ch a n g e, or b y a n y o th er sim ilar t itle , w h eth er Incorpo r a ted or n o t, shou ld b e p roh ib ited b y la w , w here su ch q u o ta tio n s do n o t fa ir ly an d tru th fu lly represent a n y bona fide tra n sa ctio n s on su ch ex c h a n g es. U nd er presen t co n d itio n s, w e are of th e o p in ion th a t th e M ercan tile a n d M etal ex ch a n g es do a ctu a l harm to producers a n d co n su m ers, a n d th a t th eir charters shou ld be repealed ." I t Is b eliev ed th a t th e report of th e G overnor’s co m m ittee w as m a d e w it h o u t ad eq u a te In vestigation of th e v a rio u s u tilitie s of th e N ew Y o rk M ercan tile E xch an ge; th a t som e of th e sta te m e n ts m ad e In th e report a re untrue; a n d th a t th e fo u n d a tio n a n d fu n c tio n of th e o fficial q u o ta tio n s w ere n o t fu lly u n d ersto o d . A t th e sam e tim e It ap pears th a t th e practice of m a k in g q u o ta tio n s b y v o te of co m m itte es, o ften w ith o u t a ctu a l fo u n d a tio n In re corded d a lly sales of th e tech n ical grad es specified , as Is now th e cu sto m , Is t h e fo u n d a tio n of th e reco m m en d a tio n , a n d it Is e v id e n t th a t a p ersisten ce In Issuing q u o ta tio n s on th e p resent b asis w ill re su lt In th e rev o ca tio n of th e E x ch a n g e ch arter, If th e reco m m en d a tio n s of th e H u gh es co m m ittee are p u t Into effect. U n d er th e a b o v e circu m stan ces th e fo llo w in g courses are open: 1 st. T o ab and on all officia l q u o ta tio n s. 2 d . T o continue official quotations as now at the risk of having th charter of the Exchange revoked. 3 d . T o Issue a s official q u o ta tio n s o n ly th e prices bid a n d offered under th e d a ily ca ll, In w hich case a d a lly call for ch eese w ould be necessary under o fficia l grading and Inspection. A s b earing u pon th e q u estio n , you are a lso a sk ed to con sid er th e d iffi c u lty In d eterm in in g b y th e presen t m eth o d o fficial q u o ta tio n s w hich are ce rta in to conform to th e ruling of th e S up rem e C ourt. . HENRY DUNKAK, F . G. U R N E R , J. E. LA SH ER, N ew Y ork , A ug. 9 1909. S u b . C o m m ittee. — T h e field h e r eto fo r e c o v e r e d b y th e P r o t e c t iv e C om m it t e e of th e A m erica n B a n k e r s ’ A s s o c ia tio n h a s b e e n m a d e a s e p a r a te d e p a r tm e n t o f t h e o r g a n iz a tio n , u n d e r th e d irec tio n o f a c o m p e te n t m a n a g e r . T h e n e w d e p a r tm e n t w a s o p e n e d o n t h e 2 d in s t ., a n d L . W . G a m m o n , fo r m e r ly a g e n t in c h a r g e o f th e B u ffa lo D iv is io n o f th e U . S . S e c r e t S e r v ic e o f th e T r ea su r y D e p a r tm e n t, w a s p la c e d in c h a r g e . W hen t h e p r o te c tiv e fe a tu r e w a s first in s ta lle d , a n d fo r se v e r a l y e a r s th e r e a fte r , it w a s in c h a r g e o f a S e c r e ta r y , w h o w ith a n a s s is t a n t d e v o t e d h is e n tir e tim e to it . T h e o ffic e s w e re s e p a r a te fr o m th e g e n e ra l o ffic e s of t h e a s s o c ia tio n . E x S e c r e ta r y B r a n c h , h o w e v e r , b e lie v in g t h a t t h e w o r k s h o u ld b e c o n d u c te d in th e g e n e ra l o ffic e , h a d it r e m o v e d , a n d p la c e d in th e h a n d s of h im s e lf a n d t h e A s s is ta n t S e c r e ta r y , a n d it c o n tin u e d in ch a rg e o f t h e S e c r e ta r y a n d h is a s s is ta n t u p to th e p r e se n t tim e . T h e c h a n g e n o w is in lin e w ith th e r e c o m m e n d a tio n o f th e P r o t e c t iv e C o m m itte e a n d th e S e c r e ta r y to th e E x e c u t iv e C o u n cil, a p p r o v e d la s t M a y . Mi'. G a m m o n , w h o h a s b e e n d e le g a te d to ta k e c h a r g e o f th e n e w d e p a r tm e n t, e n te r e d th e S e c r e t S e r v ic e b r a n c h o f th e G o v e r n m e n t in 1 8 9 3 , r es ig n in g th e 3 1 s t in s t . to a c c e p t h is n e w o ffic e . m p o r ta n t in terests* th e r e . I t is c o m p o se d o f P r e s id e n t H e n d e r s o n a n d V ic e -P r e s id e n t W a r d , S te p h e n E . J a c k m a n , A d o lp h A n h e ite r , F re d e ric k K is te r , H e n r y G ra sh o r n , C h arles L . F e lt m a n , C h arles G . B a lm a n n o , R ic h a r d G a rm s, W illia m C. C o u r tn e y , J a m e s M. G ray a n d J o s e p h H u b e r , t h e la s tn a m e d P r e s id e n t o f th e F ir st N a tio n a l B a n k o f B r o o k ly n . — T h e B o w e r y S a v in g s B a n k o f th is c it y is d is tr ib u tin g a b o o k le t in c o m m e m o r a tio n of it s s e v e n t y - f if t h a n n iv e r s a r y , in w h ic h it s h is to r y is b r iefly to u c h e d u p o n , a n d s t a t is t ic s b e a r in g o n its g r o w th are a d d e d . T h e in s t it u t io n w a s in c o r p o r a te d o n M ay 1 1 8 3 4 , a n d it b e g a n b u s in e s s in t h e fo llo w in g m o n th . S in c e 18 3 5 t h e b a n k h a s p a id o u t in in te r e s t 8 8 8 ,1 6 8 ,2 8 8 . O n J u ly 1 la s t th e a m o u n t d u e d e p o s ito r s s to o d a t 8 1 0 7 ,5 4 6 ,0 3 5 , w h ile th e to ta l a s s e t s w ere 8 1 1 5 ,6 8 6 ,7 7 1 . — T h e A m e ric a n N a tio n a l B a n k is th e n a m e d e c id e d u p o n fo r a p r o je c te d N e w a r k , N . J ., in s t it u t io n . T he co n sen t o f t h e C o m p tro ller of t h e C u rren cy to p r o c e e d w it h th e c a rr y in g th r o u g h o f th e u n d e r ta k in g w a s o b ta in e d o n th e 5 th in s t . T h e b a n k is to h a v e a c a p ita l o f $ 2 0 0 ,0 0 0 . — T h e n e w C o n ey Is la n d b a n k , o r g a n ize d u n d e r th e n a m e o f th e B a n k o f C o n ey I s la n d , b e g a n b u s in e s s on th e 1 0 th in s t . in th e q u a rte r s fo r m e r ly u s e d b y th e b r a n c h o f th e L a f a y e t te T r u st C o. o n S u rf A v e n u e . T h e n e w in s t it u t io n h a s b e e n fo r m e d w ith $ 1 0 0 ,0 0 0 c a p ita l a n d $ 5 0 ,0 0 0 s u r p lu s, a n d is u n d e r th e m a n a g e m e n t o f F r e d . B . H e n d e r s o n , P r e sid e n t; W illia m J . W a r d , V ic e -P r e sid e n t, a n d H o w a r d M. J e ffe r so n , V ic e -P r e sid e n t a n d C a sh ier. B o t h M essrs. H efid e rso n a n d W a rd h a v e la rg e b u sin e ss in te r e s ts a t th e I s la n d , a n d th e b o a rd o f d ir ec to rs a lso c o n ta in s th e n a m e s o f o th e r s w ith a r r a n g e m e n t p r o v id in g for t h e u n ific a tio n o f th e in te r e s ts o f th e ir in s titu tio n a n d th o s e o f t h e A m e ric a n T r u st & S a v in g s B a n k . T h e p la n , w h ic h a lr e a d y h a s th e a s s e n t o f 9 5 % o f th e sh a r e h o ld e r s, is to g o in to e ffe c t o n S e p t . 4 . T h e p a r tic u la r s o f th e a r r a n g e m e n t h a v e a lr e a d y b e e n s e t o u t in th e s e co lu m n s; o n e o f t h e sp e c ific p r o p o s itio n s u p o n w h ic h th e s to c k h o ld e r s o f t h e C o n tin e n ta l w ill ta k e a c tio n w ill b e a p r o p o sa l to in c re a se th e c a p ita l of th e b a n k fr o m $ 4 ,0 0 0 ,0 0 0 to $ 9 ,0 0 0 ,0 0 0 . O th er d e ta ils in c o n n e c tio n w ith th e p la n w ill b e fo u n d in ou r issu e o f J u ly 17. — T h e C a m d en S a fe D e p o s it & T r u s t C o. o f C a m d en t o - d a y h a s th e la r g e st e a rn ed su r p lu s a n d u n d iv id e d p r o fits a c c o u n t — T h e b o d y o f C o rn eliu s C. C u yler o f C u y ler, M organ & in p r o p o r tio n to it s c a p ita l o f a n y b a n k or tr u s t c o m p a n y in C o. a n d th e U n ite d S t a t e s M o rtg a g e & T r u st C o ., w h o d ied th e e n tir e S t a t e o f N e w J e r s e y . E a r n e d su r p lu s a n d u n d i o n J u ly 31 a t B ia r r itz , F r a n c e , fro m in ju r ies r e c e iv e d in a n v id e d p r o fits a re S I , 2 0 8 ,3 7 8 , or t w e lv e tim e s t h e c a p ita l o f a u to m o b ile a c c id e n t , a r riv ed o n T h u r s d a y o n th e ste a m e r $ 1 0 0 ,0 0 0 . T h e in s t it u t io n w a s fo u n d e d in 187 3 a n d is “ A d r ia t ic .” F u n e r a l se r v ic e s w ere h e ld y e s te r d a y a fter - n o te d fo r it s c o n s e r v a tiv e m a n a g e m e n t a n d s tr o n g fin a n c ia l n o o n |a t th e B rick P r e sb y te r ia n C h u rch . s ta n d in g . O n J u n e 3 0 th , a t t h e tim e o f i t s la s t r ep o rt to — T h e to u r o f th e m e m b er s of th e N e w Y o r k B a n k e r s ’ th e N e w J e r s e y S t a t e B a n k in g D e p a r tm e n t, it s d e p o s its w e re A s s o c ia tio n to th e A n n u a l C o n v e n tio n of t h e A m e ric a n $ 6 ,3 5 0 ,3 1 6 a n d a g g r e g a te r eso u r ce s $ 7 ,4 7 0 ,9 5 0 , n o t in c lu d in g B a n k e r s ’ A s s o c ia tio n n e x t m o n th w ill in c lu d e , a s a sid e $ 5 ,0 0 0 ,0 0 0 tr u s t fu n d s , w h ic h a re k e p t se p a r a te a n d d is t in c t A le x a n d e r C. W o o d is a t th e is s u e , a trip to th e Y e llo w s to n e N a tio n a l P a r k . T h e tr a in fr o m th e c o m p a n y ’s a s s e ts . w ill b e a d u p lic a te o f th e fa m o u s “ B a n k e r s ’ S p e c ia l” to D e n h e a d o f it s a d m in is tr a tio n a n d h a s a s h is o ffic ia l a s s o c ia te s v e r la s t y e a r . I t w ill p r o b a b ly le a v e N e w Y o rk o n S a tu r B e n ja m in C. R e e v e , V ic e P r e sid e n t a n d T r u st O fficer; J o s e p h d a y , S e p t . 11, a s a se c o n d s e c tio n o f th e “ 2 0 th C e n tu ry L im L ip p in c o tt, S e c r e ta r y a n d T reasu rer; G eorge J . B e r g e n , i t e d , ” a r r iv in g in C h ica g o o n S u n d a y m o r n in g , r e m a in in g S o licito r ; a n d E p h r a im T o m lin s o n , A s s is ta n t T r u s t O fficer. in C h ica g o d u r in g th e C o n v e n tio n , a n d le a v in g th e r e th e T h e d ir e c to r s are: W illia m S . S c u ll, B e n ja m in C. R e e v e , e v e n in g o f F r id a y th e 1 7 th for th e Y e llo w s to n e , s p e n d in g A le x a n d e r C. W o o d , W illia m S . P r ic e , G eo rg e R e y n o ld s , fiv e a n d a h a lf d a y s a t th e p a r k , r 6 tu r n in g d ir e c t to N e w J o se p h I I . G a sk ill, W m . J o y c e S e w e ll, E d m u n d E . R e a d J r ., Y o r k , a n d r e a c h in g h ere T u e s d a y , S e p t . 2 8 . T h e to u r , W in . J . B r a d le y , G eo rg e J . B e r g e n , J o se p h W . C o o p er , e x c lu s iv e o f h o te l a c c o m m o d a tio n s a n d m e a ls a t C h ica g o , E p h r a im T o m lin s o n a n d G eorge W . J e s s u p . w ill c o s t a p p r o x im a te ly $ 2 1 5 p er p e r so n , w ith d o u b le b erth — M a n n in g C. P a lm e r , e x - P r e s id e n t o f t h e fa ile d A m e ric a n in s le e p in g ca r, a n d $ 2 2 0 p er p e r so n w h e n tw o p e r so n s o c c u p y E x c h a n g e N a tio n a l B a n k o f S y r a c u s e , N . Y ., w h o w a s a s ta te r o o m . F o r th o s e w h o m a y n o t h a v e s u ffic ie n t tim e s e n te n c e d to fiv e y e a r s ’ im p r is o n m e n t in 1 9 0 6 , w a s d isc h a r g e d a t th e ir d isp o sa l t o e x te n d th e tr ip b e y o n d C h ic a g o , ar fro m t h e A u b u rn P riso n th is w e e k o n a p a r d o n issu e d b y r a n g e m e n ts w ill b e m a d e w h e r e b y t h e y ca n a c c o m p a n y th e P r e s id e n t T a f t . Mr. P a lm e r w a s c o n v ic t e d o n c h a r g es in s p e c ia l a n d r etu rn fr o m C h icago d ir e c t in s p e c ia l cars re c o n n e c tio n w ith t h e su s p e n s io n o f th e b a n k , w h ic h o c c u r r e d in se r v e d fo r t h a t p u r p o se , or in d e p e n d e n tly w it h in th e lim it 1 9 0 4 . o f th e t ic k e t . T h o s e d e sir o u s of jo in in g th e to u r m a y — W arren A . C ook h a s b e c o m e P r e s id e n t o f t h e N a t io n a l a d d re ss e ith e r C h arles E llio t t W a rren o f th e L in c o ln N a tio n a l U n io n B a n k o f W o o n s o c k e t, R . I . , su c c e e d in g t h e la te B a n k o f th is c it y , w h o is C h airm an of th e C o m m itte e on G eorge S . R e a d . T r a n sp o r ta tio n a n d A r r a n g e m e n ts , or L . F . V o sb u rg h , — R . A . W a lk e r h a s la t e ly b e c o m e P r e s id e n t o f th e L in c o ln G . E . P . A . o f th e N e w Y o rk C en tral L in e s, 12 1 6 B r o a d w a y . N a tio n a l B a n k o f W a s h in g to n , D . C. Mr. W a lk e r w a s — T h e w ith d r a w a l o f th e fu n d s of t h e S t a t e o f O k la h o m a p r e v io u s ly a V ic e -P r e s id e n t, a n d w ith h is a d v a n c e m e n t fr o m th e F ir s t N a tio n a l B a n k o f C le v ela n d , O k la ., is s a id F lo y d E . D a v is t a k e s r a n k a s se n io r V ic e -P r e s id e n t, R o b e r t to h a v e b e e n o rd ered b y S t a t e B a n k C o m m issio n er Y o u n g C a lla h a n b e in g e le c te d a S e c o n d V ic e -P r e s id e n t in M r. b e c a u se o f th e f a c t, it is c la im e d , t h a t th e in s t it u t io n is D a v is ’s p la c e . p a y in g a h ig h er r a te o f in te r e s t th a n th e S t a t e b a n k s are — T h e H arris T r u st & S a v in g s B a n k o f C h ica g o is a b o u t to p e r m itte d to p a y u n d e r th e g u a r a n ty la w . a d d to th e m a n y s p le n d id b u ild in g s w h ic h are t h e d o m ic ile s — T h e p e titio n in b a n k r u p tc y filed a g a in s t O tto H c in z e o f th e b a n k in g in s t it u t io n s o f C h ic a g o . I t s P r e s id e n t, N . W . &, C o. o f th is c it y o n O c t. 21 190 7 w a s d ism iss e d o n t h e 3rd H a rr is, h a s , th r o u g h a g e n t s , c o n c lu d e d th e p u r c h a s e o f th e in s t . b y J u d g e H a n d in th e U . S . D is tr ic t C o u rt. J u d g e p r o p e r ty a t 1 4 0 -1 4 6 M onroe S tr e e t, u p o n w h ic h it is in te n d e d H a n d a lso co n firm ed th e r ep o rt o f th e referee in b a n k r u p tc y , to e r e c t a tw e n t y - o n e s t o r y b u ild in g w ith a b a s e m e n t a n d w h o h e ld t h a t n e ith e r th e a c t s o f b a n k r u p tc y nor th e in s u b -b a s e m e n t. T h e p r o je c t, it is s a id , w ill r e p r e se n t a to ta l so l v e n c y o f th e m em b ers o n th e d a te s g iv e n w ere p r o v e d . in v e s t m e n t o f $ 2 ,5 0 0 ,0 0 0 — $ 1 ,0 0 0 ,0 0 0 h a v in g b e e n p a id fo r — S c h e d u le s in b a n k r u p tc y o f E . D . S h ep a rd & C o. o f th is th e s it e , w h ile th e p r o p o sed str u c tu r e w ill c o s t $ 1 ,5 0 0 ,0 0 0 . c it y , filed o n th e 3 d in s t ., are r ep o rte d to sh o w lia b ilitie s of T h e p r o p e r ty m e a su r e s 9 1 x 1 8 9 f e e t . T h e p la n s fo r t h e $ 9 ,7 5 8 ,3 4 8 a n d n o m in a l a s s e ts of $ 8 ,4 1 1 ,4 2 7 . O n ly a v e ry n e w b u ild in g h a v e n o t y e t b e e n d r a w n , b u t it is to b e o f a sm a ll p o r tio n o f th e lia b ilitie s is s e c u r e d , th e u n se c u r e d t y p e sim ila r to t h e h a n d s o m e s tr u c tu r e s w h ic h a lr e a d y a m o u n t b e in g $ 9 ,6 7 3 ,6 3 7 , th e g r ea te r p a r t o f w h ic h , it is a d o r n th e fin a n cia l d is tr ic t. T h e b a n k w ill o c c u p y t h e u n d e r s to o d , is o n c o n s tr u c tio n a c c o u n t for r a ilr o a d s, w a te r m a in floor, w h ic h is to b e tw o s to r ie s in h e ig h t, a n d w ill w o r k s a n d fu e l e n te r p r ise s. u tiliz e t h e b a s e m e n t for it s s a f e t y v a u lt s . T h e s u b — T h e H o m e B a n k of B r o o k ly n B o r o u g h h a s b e e n d e sig b a s e in e n t w ill b e g iv e n o v e r to th e m o re im p o r ta n t m e c h a n i n a te d a c it y d e p o s ita r y . T h e in s t it u t io n w a s o n e o f th o s e cal e q u ip m e n t o f th e b u ild in g . T h e H a rris S a fe D e p o s it o b lig e d to c lo se f o llo w in g th e p a n ic o f 19 0 7 , b u t th e final C o m p a n y w a s in c o rp o ra te d th is w e ek w ith $ 1 ,2 5 0 ,0 0 0 c a p it a l in s ta llm e n t a r ra n g ed for u n d er th e d e fe r r e d -p a y m e n t p la n to fin a n ce th e n e w b u ild in g . o f r e s u m p tio n w a s m e t w ith in s ix m o n th s of it s r e -o p e n in g — A m e e tin g o f th e sto c k h o ld e r s of th e C o n tin e n ta l N a tio n a l a n d a y e a r b efo re th e tim e it w a s d u e . B a n k o f C h ica g o , w ill b e h e ld o n th e 3 1 s t i n s t . t o r a tify th e — A n a d d itio n to t h e b a n k in g in s t it u t io n s o f C h icago is p r o p o s e d in t h e o r g a n iz a tio n o f th e S o u t h S id e S t a t e B a n k , t h e fo r m a tio n o f w h ic h h a s b e e n a u th o r iz e d b y th e S ta te A u d ito r . T h e n e w b a n k is to h a v e $ 2 0 0 ,0 0 0 c a p ita l a n d is t o lo c a t e in t h e v i c i n i t y o f C o tta g e G ro v e A v e . a n d 4 0 th S t . T h e o p e n in g is s c h e d u le d fo r n e x t m o n th . W . I t. M a h o n is s la te d fo r th e p r e sid e n c y . — W . F . M cL a n e w i l l resig n on S e p t. 1 a s a n A s sista n t C a sh ier o f th e N o r t h w e s t e r n N a tio n a l B a n k o f M in n ea p o lis t o b e c o m e C ash ier o f th e H e n n e p in C o u n ty S a v in g s B a n k of t h a t c it y . T h e p r e se n t C ash ier of t h e la t t e r , W . H . L ee, is to b e p r o m o te d to th e o ffic e o f F ir s t V ic e -P r e s id e n t. Mr. M cL a n e w a s fo r m e r ly A s s is t a n t C a sh ier o f th e N a tio n a l B a n k o f C o m m e rc e , a n d sin c e t h e c o n s o lid a tio n o f t h a t b a n k w ith t h e N o r th w e s te r n N a tio n a l l a s t y e a r h a s c o n tin u e d w ith th e c o n so lid a te d b a n k in th e sa m e c a p a c it y . Mr. L e e, w h o m M r. M cL a n e w ill su c c e e d in th e H e n n e p in C o u n ty B a n k , h a s b e e n a n o fficer o f th e la t t e r for t w e n t y - e ig h t y e a r s , a n d i t s C a sh ier fo r n in e te e n y e a r s . — T h e T r a d e r s ’ & T r u c k e r s’ B a n k o f N o r fo lk , V a ., c lo sed it s d o o rs on M o n d a y , h a v in g filed a d e e d o f a s s ig n m e n t to J a m e s H . W in s to n , t r u s t e e . A c c o r d in g to P r e s id e n t T . B . G o rd o n , “ th e b a n k h a s b e e n s t r u g g lin g a lo n g s in c e th e crisis fo llo w in g th e J a m e s to w n E x p o s i t i o n to p u t its e lf o n a firm f o o t i n g .” “ M an y u n f o r t u n a t e lo a n s ,” h e s t a t e s , “ w ere m a d e a t th e tim e o f th e E x p o s itio n , a n d a s th e c a p ita l s to c k o f th e b a n k w a s n o t s u f f ic i e n t to m e e t th e la rg e d e m a n d s o f b u s in e s s in th e r e c e n t fin a n c ia l s tr e s s , th is a c tio n w a s d e c id ed u p o n .” T h e in s t it u t io n w a s o r g a n iz e d in 1 9 0 2 . It h a d a c a p ita l o f $ 4 0 ,0 0 0 a n d it w a s p la n n e d se v e r a l m o n th s a g o to in c re a se th e a m o u n t to $ 1 0 0 ,0 0 0 , s e llin g th e s t o c k a t $ 1 1 0 p er sh a r e . T h e d e p o s its , i t is s a i d , a m o u n t to le s s th a n $ 8 0 ,0 0 0 . — T h e N e b r a sk a B a n k e r s ’ A s s o c ia t io n is to h o ld it s a n n u a l c o n v e n tio n o n S e p t. 8 a n d 9 , th e w e e k p r e c e d in g t h a t o f th e A m e r ic a n B a n k e r s ’ A s s o c ia tio n , w h ic h o p e n s in C h ica g o o n S e p t . 13. T h e N e b r a sk a m e e t in g w ill ta k e p la c e a t O m a h a , a n d th e sp e a k e r s se c u r ed for th e o c c a s io n a r e W . S . W ith a m — F . W . K a m m a n n h a s r e p la c e d L a w r e n c e S . C ritch ell a s o f A t la n t a , w h o is a t th e h e a d o f a so -c a lle d c h a in o f b a n k in g C ash ier o f th e F ir s t N a tio n a l B a n k o f S io u x C ity , I o w a , a n d in s t it u t io n s , a n d w h o w ill d is c u s s “ C o m m u n ity o f I n te r e s ts F . F r itz lin h a s su c c e e d e d F . W . B la u d a s A s s is ta n t C ashier a s R e la te d to B a n k in g ” ; J o se p h C h a p m a n J r ., V ic e -P r e s i o f th e b a n k . d e n t o f th e N o r th w e s te r n N a t io n a l B a n k o f M in n ea p o lis! — In a d d itio n to th e n e w fe a tu r e s w h ic h w e a n n o u n c e d la s t W . F . G u rley o f O m ah a; F . L . T e m p le o f L e x in g t o n , N e b .; w e e k a re to b e in a u g u r a te d b y t h e T itle G u a r a n ty T r u st J . A d a m B e d e o f P in e C ity , M in n .; F . II . S a n d e r s o n o f F r e C o. o f S t . L o u is , w e a r e a d v is e d b y t h e in s titu tio n th a t m o n t , a n d D a r iu s M a th e w so n o f N o r fo lk . d e p a r tu r e s w ill b e m a d e in o th e r r e s p e c ts , p a r tic u la r ly in — L o u is T . S ilv a in w a s r e c e n tly a p p o in t e d r e c e iv e r o f t h e t h e g u a r a n te e in g of b o n d s . W h ere h e r e to fo r e it h a s b een G cr m a n -A m e r ic a n B a n k o f S e a t t le , a n in s t it u t io n p r o je c te d t h e p r a c tic e fo r a b o n d h o u se w h e n p u t t in g a n issu e of e a r ly th is y e a r , b u t w h o se o r g a n iz a tio n , a c c o r d in g to o n e o f m u n ic ip a l or d is tr ic t b o n d s o n th e m a r k e t to h a v e th e le g a lity th e in c o r p o r a to r s, E . C . K ly c e , h a d n e v e r b e e n c o m p le t e d . o f t h e e le c tio n a u th o r iz in g th e s a m e m e r e ly p a sse d u p o n T h e c a p ita l, it is u n d e r s to o d , w a s to h a v e b e e n $ 1 0 0 ,0 0 0 , b u t b y th e c o u n s e l o f th e h o u se , th e T itle G u a r a n ty Co. p u rp o se s M r. K ly c e s t a t e s t h a t , o w in g to th e in a b il i t y to o b ta in th e to g u a r a n te e th e v a lid it y of is s u e s of th is s o r t, su c h g u a r a n ty e n tir e a m o u n t o f su b s c r ip tio n s n e c e s s a r y , th e p la n t o o r g a n to b e s ta m p e d u p o n th e fa c e o f th e b o n d . T h is , it is e x p e c iz e w a s a b a n d o n e d . T h e r e c e iv e r w a s a p p o in t e d in a n s w e r t e d , w ill n o t o n ly in c r e a se th e se llin g p o w e r o f th e b o n d , b u t to th e p e t it io n o f th e W a s h in g to n I n t e r io r F in is h C o ., w h ic h w ill a lso e n h a n c e th e s e llin g p r ice . F u r th e r m o r e , a lo n g th is c la im s to h a v e in s ta lle d fittin g s for w h ic h i t w a s n o t r e im s a m e lin e , th e c o m p a n y in th e c a se o f in d u s tr ia l a n d o th e r b u r s e d . b o n d s o f t h a t n a tu r e , w ill g u a r a n te e th e t it le to th e p r o p e r ty — C h arles J . D e e r in g , h e r e to fo r e C ash ier o f t h e U n io n T r u st b e h in d su c h is s u e s , a n d th is g u a r a n ty , i t is e x p e c t e d , w ill b e C o. o f S a n F r a n c is c o , h a s b e e n e le c te d a V ic e -P r e s id e n t of o f th e s a m e v a lu e to t h e b o n d seller a s in th e o th e r in s ta n c e . th e in s t it u t io n . H er m a n V a n L u v c n , a n A s s is t a n t C a sh ier , T h is fe a tu r e o f t h e g u a r a n t y b u sin e ss w ill, it is s t a t e d , b e h a s b een m a d e C a sh ier. m a d e n a tio n a l in s c o p e . — H . S . H o lt , P r e s id e n t o f th e R o y a l B a n k o f C a n a d a — T h e o r g a n iz a tio n o f t w o n e w tr u s t c o m p a n ie s in S t . L ou is is b e in g u n d e r ta k e n . O n e of th e s e is to b e k n o w n a s th e N o r th S t . L o u is T r u st C o. a n d it is to h a v e $ 1 0 0 ,0 0 0 c a p ita l, w ith a su r p lu s o f $ 1 0 ,0 0 0 . T h e o th e r in s titu tio n is to b e sim ila r ly c a p ita liz e d , a n d it s o r g a n iz a tio n w ill b e e ffe c te d u n d e r t h e n a m e o f th e T o w e r G ro v e T r u st C o. T h e o ffice s o f th e la t t e r w ill b e in th e n e ig h b o r h o o d o f G ran d A v e . a n d A r se n a l S t . , w h ile th e N o r th S t . L o u is T r u st C o. w ill lo c a te n e a r G ran d A v e . a n d H e b e r t S t.' — A s u it fo r $ 2 0 0 ,0 0 0 b r o u g h t a g a in s t th e d ir ec to rs o f th e fa ile d F ir s t N a tio n a l B a n k o f F o r t S c o t t , K a n s a s , b y th e d e p o s ito r s w a s filed o n th e 6 th in s t . I n th e c h a r g es o f n e g li g e n c e a n d m is m a n a g e m e n t w h ic h are m a d e , i t is a lle g e d th a t n o b o n d w a s r eq u ire d b y th e d ir ec to rs fro m P r e s id e n t G ran t H o r n a d a y n o r C a sh ier F . A . H o r n a d a y . I t is a lso c h a rg ed t h a t f i c t it io u s r e p o r ts o f th e b a n k ’s c o n d itio n w ere p u b lis h e d , a n d t h a t th e in s t it u t io n w a s in s o lv e n t in 1 9 0 6 . T h e b a n k c lo s e d it s d o o r s o n N o v . 2 0 19 0 8 a n d a d iv id e n d o f 5 0 % is sa id to h a v e sin c e b e e n p a id . T h e in s t it u t io n h a d a ca p ita l o f $ 1 0 0 ,0 0 0 . A n a s s e s s m e n t o f $ 1 0 0 ,0 0 0 (or o n e -h a lf th e a m o u n t fo r w h ic h t h e s to c k h o ld e r s a re lia b le ) w a s le v ie d a g a in s t th e c a p ita l o n th e 1 0 th in s t . b y t h e C o m p tro ller of t h e C u rren cy . P a y m e n t is r eq u ired b y S e p t . 4 . — T h e o d o r e H a rris, P r e s id e n t of th e L o u is v ille N a tio n a l B a n k in g C o. o f L o u is v ille , a n d o n e of th e p r o m in e n t b u sin e ss m en o f th e c it y , d ie d o n t h e 9 th in s t. M r. H a rris w a s in h is e ig h ty -fir s t y e a r . H e w a s b orn in W o lfv ille , N o v a S c o tia , in F e b . 1 8 2 9 , b u t h a d r esid ed in L o u is v ille sin c e 1 8 5 3 . H e w a s o n e of th e o r g a n ize rs of th e L o u is v ille N a tio n a l B a n k in g C o ., a n d b e sid e s b e in g th e c h ie f e x e c u t iv e o f t h a t i n s t it u t io n , w a s P r e s id e n t o f t h e L o u is v ille In su r a n c e C o ., a sto c k h o ld e r a n d d ir e c to r o f t h e L o u is v ille R a ilw a y C o. a n d h a d a s s is te d in t h e o r g a n iz a tio n o f t h e L o u is v ille T r u st Co. — J o h n M . S h a rp , o f t h e b a n k in g a n d b r o k e r a g e firm o f J . M. S h a rp & C o. o f L o u is v ille , d ie d o n M on d a y a t a h o s p ita l in D e tr o it. T h e su s p e n s io n o f h is firm occu rred o n S a tu r d a y la s t. (h e a d o ffic e M o n tr e a l), w a s r e c e n t ly e le c te d P r e s id e n t o f th e M on treal T r u st C o. A s s t a t e d la s t m o n t h , p a r tie s fr ie n d ly to th e b a n k p u r c h a s e d s to c k in th e tr u s t c o m p a n y a s h o r t tim e s in c e , th e a c q u is itio n , it is u n d e r s to o d , c o n s t it u t in g a c o n tr o llin g in te r e s t. R o b e r t A rch er h a s b e e n c h o se n V ic e P r e s id e n t of th e c o m p a n y a n d D . C. R e a h a s b e e n m a d e M an a g er. • — T h e c o n s o lid a tio n o f th e L o n d o n & W e s tm in s te r B a n k a n d th e L o n d o n & C o u n ty B a n k in g C o ., L t d ., o f L o n d o n , referred to in ou r issu e o f J u ly 2 4 , w e le a r n fr o m L o n d o n a d v ic e s , w ill b e c o n s u m m a te d u n d e r th e n a m e o f th e L o n d o n , C o u n ty & W e s tm in s te r B a n k , L t d . T h e a m a lg a m a te d in s t i tu t io n is to h a v e a s u b s c r ib e d c a p ita l o f £ 1 4 ,0 0 0 ,0 0 0 , o f w h ich £ 3 ,5 0 0 ,0 0 0 w ill b e p a id u p in 7 0 0 ,0 0 0 sh a r e s o f £ 2 0 e a c h , £ 5 p a id . T h e a r r a n g e m e n t p r o v id e s t h a t e a c h p r e s e n t h o ld er o f o n e £ 8 0 sh a r e ( £ 2 0 p a id ) in th e L o n d o n & C o u n ty B a n k in g C o. w ill b e e n t it le d to 4 sh a r e s o f th e c o n s o lid a te d in s t i t u tio n , a n d e a c h p r e s e n t h o ld e r o f o n e £ 1 0 0 sh a r e ( £ 2 0 p a id ) in th e L o n d o n & W e s tm in s te r B a n k w ill b e a llo t t e d 2 1-7 sh a r e s. T h e r e s e r v e o f th e e n la r g e d b a n k w ill a m o u n t to a b o u t £ 4 ,2 5 0 ,0 0 0 , w h ile th e c o m b in e d c u r r e n t a n d d e p o s it a c c o u n t b a la n c e s , it is s t a t e d , w ill e x c e e d £ 7 0 ,0 0 0 ,0 0 0 . D E B T S T A T E M E N T J U L Y 31 1909. T h e fo llo w in g s t a t e m e n t s o f t h e p u b lic d e b t a n d T r ea su r y c a sh h o ld in g s o f th e U n ite d S t a t e s a re m a d e u p fro m o fficia l figu res issu ed J u ly 31 1 9 0 9 . For s ta te m e n t of J u n e 30 1 9 0 9 , se e i s s u e of J u l y 17 1 9 0 9 , p a g e 142; th a t of J u l y 31 19 0 8 , see A u g . 15 190 8 , p a g e 3 9 1 . ___ Title o/ Loan — 2a, 3 s, •Is, 2 s, 2 s, Interest Payable. Consols o( 1930 ..............Q.-.J. Loan ot 1908-18 ...........Q ,-F . Loan ot 1925 .................. Q .-F . P a n . Canal Loan 1 9 0 6 .Q .-N . P a n . Canal Loan 1 9 0 8 -Q .-F . Issued. -A m o u n t Outstanding ------------Registered. Coupon. Total. 6 4 6 ,2 5 0 ,1 5 0 6 4 1 ,1 5 5 ,8 5 0 5 ,0 9 4 ,3 0 0 6 4 6,250 150 198,7 9 2 ,6 6 0 4 1 ,2 0 0 ,0 4 0 2 2 ,7 4 5 ,4 2 0 6 3 ,945 460 16 2 ,3 1 5 ,4 0 0 9 7 ,3 7 0 ,8 0 0 2 1 ,1 1 9 ,1 0 0 11 8 ,489,900 5 4 ,6 3 1 ,9 8 0 5 4 .0 0 0 ,4 8 0 3 1 ,5 0 0 5 4 ,6 3 1 ,9 8 0 3 0 ,0 0 0 ,0 0 0 2 9 ,4 0 3 ,3 2 0 5 9 6 ,6 8 0 3 0 ,0 0 0 ,0 0 0 Aggregate Int.-bcarlng d e b t -- l,0 9 1 ,9 0 0 ,1 9 0 8 6 3 ,7 3 0 ,4 9 0 4 9 ,5 8 7 ,0 0 0 9 1 3 ,3 1 7 ,4 9 0 N ote .— D enom inations of bonds are: Of Of Ot Of Of $20, loan of 1908, coupon and registered. $50, all Issues e x c ep t 3s of 1908: of $100, all Issues. $500, all Issues; of $ 1 ,0 0 0 , all Issues. $ 5 ,0 0 0 , all registered 2s, 3s and 4s; of $ 1 0 ,0 0 0 , all registered bonds. $5 0 ,0 0 0 , registered 2s of 1930. D E B T O N W H IC H IN T E R E S T H A S C E A SE D SIN C E M A T U R IT Y . J u ly 31. Ju n e 30. F unded loan of 1891, continued a t 2% , called M ay 18 $32,000 00 1900, Interest ceased Aug. 18 1900 ...................... ......... §3 2 ,0 0 0 00 2 3 .750 00 F unded loan of 1891, m atured S ep t. 2 1891.................... 2 3 ,750 00 18.750 00 Doan of 1904, m atured F eb . 2 1904__________________ 43,750 00 1 ,813,000 00 Fun ded loan of 1907, m atured Ju ly 2 1907...................... 1,857,350*00 17,690 00 R efunding certlAcatcs, m atured Ju ly 1 1907_______ 17,720 00 O ld d eb t m atured a t various d a tes prior to Jan. 1 1861 and oth er Item s of d e b t m atured a t various dates 9 0 9,285 26 subsequent to Jan. 1 1 8 0 1 - ._____ __________ ______ 9 0 9,285 26 A ggregate d eb t on w hich Interest has ceased since m a tu r ity _____________________________ . _________ $ 2 ,8 8 3 ,8 5 5 26 A ggregate d eb t bearing no I n te r e s t............................................................ $38 0 ,4 1 7 ,1 4 4 28 R E C A P IT U L A T IO N . Increase ( + ) or Classification —• J u ly 31 1909. Jtine 30 1909. Decrease (— ). Interest-bearing d e b t____ $ 9 1 3 ,317,490 00 $ 9 1 3 ,3 1 7 ,4 9 0 00 .............................. D e b t Interest c e a s e d ____ 2 ,8 1 4 ,4 7 5 26 2 ,8 8 3 ,8 5 5 26 — $ 69,380 00 D e b t bearing no in te r e s t.. 380,4 1 7 ,1 4 4 28 3 8 2 ,1 1 4 ,0 2 6 78 — 1 ,696,882 50 T otal gross d e b t...............$ 1 ,2 9 6 ,5 4 9 ,1 0 9 54 Cash balance In T reasury. 258,4 3 7 ,7 5 4 71 $ 1 ,2 9 8 ,3 1 5 ,3 7 2 04 274,4 5 3 ,8 4 1 25 — $ 1 ,7 6 6 ,2 6 2 50 — 16,0 1 6 ,0 8 6 54 T otal n et d e b t................. $ 1 ,0 3 8 ,1 1 1 ,3 5 4 83 $ 1 ,0 2 3 ,8 6 1 ,5 3 0 79 + $ 1 4 ,2 4 9 ,8 2 4 04 Months. 1908-09. J u l y .......... ....................... A u g u st.......................... S ep tem b er_________ O ctober....... ................. N ovem b er............... .. D ecem ber.................. January ...................... February.................... M arch .......................... A p r il............................. M a y ................. ............ June ............................. Total 12 m o n th s.. T h e fo r eg o in g figu res sh o w a g r o ss d e b t on J u ly 31 of •Si,2 9 6 ,5 4 9 ,1 0 9 54 a n d a n e t d e b t (g r o ss d e b t le s s n e t cash in th e T rea su ry ) o f S I ,0 3 8 ,1 1 1 ,354 8 3 . T R E A S U R Y C A S H A N D D E M A N D L I A B I L I T I E S .— T h e ca sh h o ld in g s o f th e G o v e r n m e n t a s t h e ite m s sto o d J u ly 31 a rc s e t o u t in t h e fo llo w in g : L I A B IL IT IE S . 1908-09. J u l y .................................. 1.585 5,900 741.965 310 1,073 82,770 11,900 200 2,105 Coin. Total. Bullion. 5 8,456 4.270 1.285 4,297 12,532 27,872 7,900 23,730 11,620 23,080 97,809 5 5 177,910 218.308 172,304 209,157 224.665 242,038 272,840 160,752 300,565 187,178 212.354 274,783 169,454 214,038 171,019 209.157 220,368 229,506 244,968 152,852 276,835 175,558 189,274 176,974 222,851 2,430,003 2,652,854 June ................................ 81 T o ta l tru st lia b ilitie s.1 ,3 4 3 ,2 1 1 ,8 6 9 Gen. Fund Liabilities — 3 8 ,9 6 9 ,8 2 2 85N ational bank 5% fu n d . 2 4 ,9 1 9 ,1 9 5 4 6 ,7 5 0 ,5 1 0 00 O utstanding checks and 9 ,7 9 4 ,2 3 3 00 drafts ............ 18,073,952 5 ,1 9 5 ,1 2 4 Of) D isbursing officers’ bal 4 ,1 8 3 ,5 2 0 84 ances ................................ 72,788,377 7 ,7 5 2 ,5 8 2 00 P o st O ffice D epartm en t 12,879 00 a c c o u n t ........................... 2 ,707,421 2 7 ,4 0 6 ,9 7 7 34 M iscellaneous Item s____ 2 ,0 9 1 ,5 4 9 26,5 7 1 ,1 1 3 77 116 71 T otal gen. lia b ilit ie s .. 120,580,497 2 ,4 3 0 ,9 7 8 48 2 6 ,3 7 6 50 S $ $ 500 87 1,722,230,121 5S T R E A S U R Y C U R R E N C Y H O L D I N G S .— T h e fo llo w in g c o m p ila tio n , b a sed o n o fficia l G o v e r n m e n t s t a t e m e n t s , sh o w s th e cu r re n c y h o ld in g s of th e T r e a s u r y on th e first of M ay, J u n e , J u ly a n d A u g u s t 1 9 0 9 . S t a t e m e n t s o f c o rre 1,553 1,237 1,455 3 8 ,5 0 0 133.470 500 Total. S S 268,635 267,060 589.199 58 9 ,1 9 9 477.053 4 75,500 519,614 5 1 9,614 593,395 593,395 482.570 4 8 1 ,1 1 5 393,236 35 4 ,7 3 6 5 4 9,119 682,589 621,787 6 2 1,787 7 3 3,531 733,531 470,603 470,603 1,0 5 4 ,6 3 7 1,054,637 176,553 6 ,7 1 0 ,2 9 6 6 ,8 8 6 ,8 4 9 D O M E S T IC EXPORTS OF COTTON M ANUFAC T U R E S .— W e g iv e b e lo w a s t a t e m e n t s h o w in g th e e x p o r ts o f d o m e stic c o tto n m a n u fa c tu r e s for J u n e a n d for th e t w e lv e m o n th s e n d e d J u n e 30 1909, a n d , for p u r p o se s o f c o m p a r is o n , lik e figu res for th e c o rr esp o n d in g p e r io d s o f th e p r e v io u s y e a r a re a lso p resen ted : Q u a n tities o f M a n u fa c tu res o f Cotton (colored a n d uncolorcd) E x p o rted to — U n it e d K i n g d o m ___y a r d s G e r m a n y ____ _ ___________ O th e r E u r o p e ______________ B r itis h N o r th A m e r ic a ____ C e n tr a l A m e r ic a n S ta te s a n d B r itis h H o n d u r a s .. M e x i c o _____________________ Cuba ____________ ______ O th e r W e s t I n d ie s a n d B erin u d a _________________ . . A r g e n t in a ___________ ____ B r a z i l __________________ . . C h i l l . . _____________________ C o l o m b i a ________ _______ _ V e n e z u e la . . . . ---------O th e r S o u t h A m e r ic a _____ T R E A S U R Y N E T H O L D IN G S . M ay 1 ’09. June 1 ’0 9 . J u ly 1 ’09. S $ $ N et gold coin and bullion..............2 3 5 ,5 9 0 ,9 1 6 2 2 4 ,2 6 3 ,0 3 8 22 3 ,1 8 4 ,4 0 5 N et silver coin and b ullion ............. 2 0 ,1 7 4 ,7 7 4 17,720,757 17,865,627 N e t U n ited S ta te s T reasury notes 8,481 8,8 1 2 10,013 N e t legal-tender n o t e s ................... - 5 ,902,751 7 ,1 5 8 ,2 0 9 6,0 3 9 ,4 1 3 N e t national bank n o te s.............. . . 2 5 ,2 6 3 ,3 9 2 2 5 ,4 2 5 ,7 3 4 2 3 ,4 1 5 ,0 6 2 N e t fractional silver ........................ 2 6 ,8 9 9 ,1 3 5 2 7 ,2 5 0 ,1 6 3 2 7 ,2 1 0 ,2 0 7 Minor coin , * c .................................... 2 ,769,877 2 ,6 4 1 ,3 4 9 2,61 6 ,7 9 8 C h in e se E m p ir e -----------------B r itis h E a s t I n d ie s -----------H o n g k o n g ---------------------------J a p a n ------------ ---------------------B r itis h A u s t r a la s i a ---------P h ilip p in e I s la n d s -------------O th e r A sia a n d O ce a n ia — B r itis h A f r ic a ---------------------A ll o t h e r A fr ic a .............. .......... A ug. 1 ’09. $ 235,7 2 0 ,3 3 3 19,172,878 12,879 7 ,7 5 2 ,5 8 2 2 7 ,406,977 2 6 ,5 7 1 ,1 1 4 2 ,457,472 T o tal cash In S u b -T re a su r ies..3161609,326 3 0 4 ,4 6 8 ,0 6 2 300,341,525(7319,094,235 L ess gold reserve fu n d ....................1 5 0,000,000 1 5 0,000,000 1 50,000,000 150,000,000 Cash b al. In S u b -T reasu ries.- .1 6 6 ,6 0 9 ,3 2 6 154,4 6 8 ,0 6 2 1 50,341,525 169,094,235 Cash In national b a n k s................ . 7 1 ,159,294 7 2 ,9 4 6 ,0 8 0 7 4 ,6 9 8 ,6 1 5 54,0 2 2 ,7 4 6 Cash In P hilippine Islan d s............. 4 ,1 3 5 ,9 4 6 4 ,2 8 2 ,8 0 8 4,1 5 2 ,0 7 3 5 ,901,272 N et Cash in banks, S u b -T re a s.2 4 1,904,566 2 3 1 ,6 9 6 ,9 5 0 2 2 9 ,1 9 2 ,2 1 3 229,0 1 8 ,2 5 3 D edu ct current liabilities . a _____ 114,470,731 111,795,641 1 04,738,372 120,580,498 A vailable cash balnncc............... 127,433,835 1 1 9,901,309 124,453,841 108,437,755 a C hiefly “ disbursing om cers’ ba la n ces." d In clu d es $ 4 ,1 8 3 ,5 2 1 silv er bullion and $2,457,472 m inor coin , A c ., not included In sta te m en t “S tock of M oney." S IL V E R 540 100 5 ,000 5.660 3 ,0 2 6 ,5 9 8 3 ,0 2 6 ,5 9 8 ............. 6 ,8 7 7 j3 ,0 2 7 ,0 9 8 3 ,0 3 3 ,9 7 5 s p o n d i n g d a te s i n p r e v i o u s y e a r s w i l l be f o u n d i n o u r i s s u e o f A u g . 15 1 9 0 8 , p a g e 3 9 1 . E X P O R T S OF GOLD A N D $ 1.575 Bullion. 54 89 92 T otal in b a n k s . .......... 5 4 ,0 2 2 ,7 4 6 16 In T reas. of Philippine Island s— C redit Treasurer of U. S . 4,3 8 6 ,4 8 3 44 Cash Balance and Reserve — C redit U . S . d l s . officers. 1 ,514,788 49 T otal cash and r e se r v e .. 258,437,754 71 Made up of— T otal In P h ilip p in e s .. 5 ,901,271 93 A v a ila b le . .1 0 8 ,4 3 7 ,7 5 4 71 ■ and licscrvc Fund Holdings— R eserve Fun d— G old coin and b u llio n .. . 1 5 0,000,000 00 G oldA b u ll.1 5 0 ,0 0 0 ,0 0 0 00 Holdings in Sub-Treasuries — Coin. 71 g T o t . In Sub-T reasuries 169,094,234 49 r In N a t. Bank Depositaries Credit Treasurer of U. S . 43,5 5 5 ,4 2 2 59 . Credit U .S . d l s . officers10,467,323 57 Grand total T o ta l 12 m o n th s .. Silver. 7'otal. 1,237 00 AT F R A N C IS C O . T h e C o llecto r o f C u sto m s a t S a n F r a n c isc o h a s fu r n ish e d u s th is w e e k w ith t h e d e ta ils o f th e im p o r ts a n d e x p o r ts of g o ld a n d silv e r th r o u g h t h a t p o r t for th e m o n th o f J u n e , a n d w e g iv e th e m b e lo w in c o n ju n c tio n w ith th e figu res for p r e c e d in g m o n th s, th u s c o m p le tin g th e r e s u lts fo r t h e fiscal y e a r 1 9 0 8 -0 9 . T h e im p o r ts o f g o ld w e re lig h t, r ea c h in g 8 1 9 4 ,0 7 4 , o f w h ic h 8 1 9 2 ,1 6 2 b u llio n . O f silv e r th e r e c a m e in 8 2 2 7 ,7 8 3 , la rg e ly b u llio n . D u rin g th e t w e lv e m o n th s th e r e w a s r ec eiv e d a to ta l o f 8 3 ,5 7 8 ,4 2 4 g o ld a n d $ 2 ,6 5 2 ,8 5 4 silv e r , w h ic h co m p a r es w ith $ 3 ,7 5 9 ,3 3 0 g o ld a n d $ 3 ,1 3 5 ,7 1 1 silv e r in 1 9 0 7 -0 8 . T h e s h ip m e n ts o f g o ld d u rin g J u n e w e re h e a v y , $ 3 ,0 2 0 ,5 9 8 b u llio n , a n d th e e x p o r ts o f silv e r w e re 330,015 129,286 917,291 273,691 180,226 259,4S8 226,329 281,124 249,580 153,732 383,395 194,267 Bullion. D e c e m b e r ___________ Gold coin and b u llio n .. . G old certificates............... S ilver c e r tific a te s........... S ilver dollars...................... Silver b ullion ---------------U n ited S ta te s n o te s ___ Treasury notes of 1 8 9 0 .. N ational b a n k n o te s ____ Fractional silver c o in __ F ractional curren cy____ Minor c o in ........................... Bonds and Interest p a id . SA N $ Coin. 540 100 hi T otal tru st fu n d --------1,3 4 3 ,2 1 1 ,8 6 9 00 General Fund Holdings — IM P O R T S A N D % 328,430 123,386 175,326 273,381 179,153 176,718 214,429 281,124 249,380 153,732 383,395 192,162 847,808 2,730,616 3,578,424 Septem ber ___________ O c to b e r ........................... F ebruary ___________ M a r c h .............................. 1.7 2 2,230,121 58 $ Silver. Total. Gold. Months. Trust F und Holdings — S Trust Fund Liabilities — $ G old c o in ............................. 8 5 2 ,0 3 4 ,8 6 9 00 G old certifica tes_______ S52.034.869 00 Sliver d ollars...................... 4 8 7 ,0 0 8 ,0 0 0 00 Silver certifica tes............. 487,00.8,000 00 Silver dollars of 1 8 9 0 . .. 4 ,1 6 9 ,0 0 0 00 Treasury n o tes of 1 8 9 0 . 4 ,1 6 9 ,0 0 0 00 Grand total Bullion. Coin. E X P O R T S O F GOLD A N D S IL V E R FROM SA N F R A N C ISC O . * Inclu ding $150,000,000 reserve fund. A SSE T S. IM PO R TS O F G O LD A N D S IL V E R AT SA N FR AN CISCO . Gold. $ 2,8 1 4 ,4 7 5 26 D E B T B E A R IN G NO IN T E R E S T . U n ited S ta te s n o te s ..................................................................................................$34 6,6 8 1 ,0 1 6 00 O ld dem and n o t e s _________________________________________________ 5 3 ,282 50 N ational bank n otes— R edem ption a c c o u n t --------- -------------------------2 6 ,8 2 2 ,0 5 8 50 Fractional currency, less $8,3 7 5 ,9 3 4 estim a ted as lo st or d e s tr o y e d -. 6,8 6 0 ,7 8 7 28 IW $ 1 ,0 5 4 ,6 3 7 , w h o lly b u llio n . F o r th e tw e lv e m o n th s t h e e x p o r ts o f g o ld r ea c h e d $ 3 ,0 3 3 ,9 7 5 , a g a in s t $ 3 4 ,5 3 9 in 1 9 0 7 OS, a n d $ 0 ,8 8 6 ,8 4 9 silv e r w a s s e n t o u t , a g a in s t $ 5 ,1 8 2 ,6 5 7 in 1 9 0 7 -0 8 . T h e e x h ib it for J u n e a n d for th e t w e lv e m o n th s is a s fo llo w s: M o n th en d in g J u n e 30 12 M o s . en d in g J u n e 3 0 . 1909. 1908. 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . 1 7 1 ,7 7 6 547 8 1 ,6 7 2 4 9 ,1 2 0 8 5 0 ,7 5 3 '2 4 0 ,4 2 6 6 ,0 0 0 2 ,3 4 7 ,9 3 9 6 8 ,5 1 5 1 7 5 ,7 5 1 5 3 9 ,9 1 9 2 ,4 6 4 ,8 5 4 2 8 ,8 7 4 2 ,2 1 6 ,3 0 2 6 3 2 ,2 0 3 7 ,7 8 8 ,6 1 7 2 ,5 8 1 ,1 0 3 2 8 0 ,1 7 1 2 ,1 8 7 ,8 0 7 2 ,8 3 2 ,7 4 5 1 9 9 ,6 9 2 2 ,2 8 9 ,6 4 0 3 1 ,5 1 5 ,0 8 2 1 ,8 4 0 ,3 0 1 2 1 ,0 5 0 ,4 5 6 2 3 ,3 3 4 ,1 0 9 1 ,7 5 7 ,4 2 7 1 7 ,8 2 5 ,7 4 2 3 ,2 7 1 ,1 2 5 1 2 7 ,4 3 6 1 4 6 ,3 0 8 8 5 5 ,3 3 4 1 ,5 2 7 ,5 9 7 1 6 2 ,6 6 2 3 7 6 ,3 2 0 6 0 3 ,1 0 6 1 ,8 5 0 ,2 0 0 2 5 ,5 0 6 ,7 4 3 6 0 4 ,2 0 0 1 5 7 ,9 9 1 1 2 ,2 8 3 6 7 1 ,8 0 7 2 ,4 8 6 ,3 2 7 8 5 ,9 2 4 8 2 0 ,1 3 3 2 4 5 ,3 7 7 2 ,7 2 8 ,6 0 1 1 2 0 ,5 2 9 9 6 ,2 0 7 4 6 6 ,2 8 6 6 3 6 ,9 9 3 4 3 ,2 0 9 ,2 4 5 1 ,5 1 0 ,3 1 7 2 ,4 5 3 ,4 6 0 8 ,4 2 1 ,7 5 1 1 5 ,9 2 6 ,5 0 7 2 ,3 3 4 ,2 9 3 5 ,8 8 9 ,7 4 8 7 ,8 1 1 ,6 9 5 2 6 ,9 7 6 ,9 5 0 1 3 9 ,9 8 7 ,0 1 3 1 2 ,0 0 0 ,8 6 3 8 1 4 ,8 7 2 9 1 ,1 6 1 8 ,3 2 4 ,6 8 2 1 1 ,7 8 9 ,8 1 2 2 ,6 5 0 ,2 9 8 7 ,7 2 4 ,1 7 1 2 ,1 7 8 ,0 1 5 2 4 ,7 1 1 ,5 3 9 9 1 9 ,3 2 7 3 ,4 7 0 ,8 1 8 8 ,2 6 3 ,7 0 0 9 ,5 9 4 ,1 3 6 4 2 5 ,9 6 5 6 3 6 ,5 3 8 8 ,5 7 9 ,9 0 9 9 2 1 ,0 0 0 2 ,0 0 0 5 ,3 3 6 6 2 7 ,7 2 0 5 9 4 ,5 1 0 2 ,7 9 3 ,6 2 4 4 9 4 ,6 8 4 1 7 0 ,2 4 3 1 ,8 2 0 ,6 7 2 5 ,6 1 6 ,8 9 5 4 ,1 1 2 ,3 4 9 6 ,8 0 5 ,2 7 1 4 9 ,8 7 6 ,6 7 1 4 ,3 6 3 ,7 9 4 6 0 2 ,0 0 0 1 9 3 ,4 4 5 6 ,7 7 0 ,4 2 3 9 ,9 0 9 ,4 1 7 2 0 ,6 2 9 ,9 0 8 1 ,9 8 2 ,8 3 8 1 ,0 1 7 ,8 7 7 T o t a l y a r d s o f a b o v e ____ 4 5 ,7 1 3 .8 2 2 2 5 ,5 8 4 ,3 2 7 3 6 7 ,6 3 1 ,5 4 2 2 0 5 ,9 9 4 ,8 1 2 T o t a l v a lu e s o f a b o v e . . $ 2 ,8 3 7 ,9 8 8 $ 1 ,6 0 1 ,9 5 0 $ 2 1 ,6 9 3 ,0 8 0 $ 1 4 ,2 6 8 ,0 8 3 $ .0 6 9 3 $ .0 6 2 6 $ .0 5 9 0 $ .0 6 2 1 V a lu e p e r y a r d ...................... V a lu e o f Other M a n u fa c tu res of Cotton E xp o rted to — U n it e d K in g d o m ___________ B e lg iu m _____ . ---------G er m a n y '____ _______________ ------ ---------O th e r E u r o p e . B r itis h N o r th A m e r ic a ____ C e n tr a l A m e r ic a n S t a t e s a n d B r itis h H o n d u r a s . . M e x i c o _____________________ C u b a . . ___ ____________ O th e r W e s t I n d ie s a n d B er- $ 9 1 ,7 9 1 666 750 8 ,3 5 6 1 2 5 ,3 7 9 $ 9 9 ,3 9 6 197 1 1 ,3 5 7 3 ,7 3 4 8 5 ,8 9 3 $ 7 0 6 ,2 9 0 2 ,6 5 8 1 2 2 ,0 4 8 6 7 ,6 5 8 1 ,1 0 8 ,2 9 8 $ 1 ,0 1 0 ,0 6 3 8 ,3 1 0 9 2 ,1 8 3 6 1 ,1 1 3 9 3 3 ,9 6 2 6 6 ,2 6 2 1 6 ,8 4 6 2 9 ,2 5 7 4 3 ,3 6 3 2 1 ,2 2 9 2 3 ,7 8 1 5 0 1 ,9 8 2 2 4 6 ,2 2 8 3 3 0 ,6 8 5 5 5 5 ,6 9 7 4 0 9 ,4 3 1 3 2 2 ,3 7 4 S o u t h A m e r ic a -------------------C h in e se E m p ir e -----------------J a p a n ___ — -------------- . B r itis h A u s t r a la s i a -----------B r itis h A fr ic a .............. ............... O th e r c o u n t r ie s ------------------ 2 1 ,0 4 1 5 ,2 7 4 7 ,7 8 2 3 ,4 8 9 4 3 ,2 1 5 1 4 ,3 1 4 9 1 ,7 0 3 1 0 ,4 7 5 3 ,7 8 0 5 ,2 6 2 310 2 2 ,9 4 4 2 0 ,2 8 8 3 0 ,8 4 0 1 6 0 ,8 5 0 8 0 ,5 5 0 4 0 ,1 0 8 1 4 ,6 3 5 3 4 1 ,3 3 2 1 3 7 ,9 1 8 3 8 5 .4 2 7 1 6 2 ,8 5 1 1 1 0 ,6 5 6 2 2 4 ,1 3 5 2 6 ,5 4 1 3 1 8 ,5 4 1 1 8 3 ,1 0 6 2 8 2 ,5 1 6 W a s t e , c o tt o n — .............. Y a r n . . -------------------------A ll o t h e r . ------------------------- $ 1 8 5 ,9 4 3 4 5 ,5 1 7 3 1 0 ,9 8 0 $ 1 6 4 ,8 6 4 2 8 ,4 4 7 2 3 0 ,7 0 5 $ 2 ,1 3 4 ,9 4 1 5 5 1 ,0 6 2 3 ,2 5 2 ,8 1 6 $ 2 ,6 3 1 ,5 9 5 4 0 0 ,6 0 0 3 ,1 7 6 ,0 0 1 T o t a l m a n u f a c t u r e s o f . . $ 3 ,9 0 6 ,5 5 3 $ 2 ,4 0 8 ,8 1 5 $ 3 1 ,8 7 8 ,5 6 6 $ 2 5 ,1 7 7 ,7 5 8 BXmt etnryi (Co m m cu cl it l gU slx^Xtxon L o n d o n , S a t u r d a y , A u g . 8 19 0 9 . A v a r ie ty o f c ir c u m s ta n c e s h a s c o n tr ib u te d to a u g m e n t t h e “ b u ll” fe e lin g u p o n th e L o n d o n S to c k E x c h a n g e a n d th e o th e r E u r o p e a n b o u r se s. T h e v is it o f th e Czar to C h erb o u rg to m e e t th e P r e sid e n t o f th e F r e n c h R e p u b lic , a n d h is g o in g o n th e n t o C o w es t o m e e t th e K in g , h a s n a tu r a lly h a d a v e r y fa v o r a b le in flu e n c e o n th e p o litic a l o u tlo o k a n d , c o n se q u e n t ly , u p o n t h e p r ice s o f th e h ig h e r cla ss o f in v e s tm e n t s e c u r itie s . T h is fe e lin g h a s b e e n , o f c o u r se , in c r e a se d b y v ir tu e o f t h e b r e a k d o w n of th e r e v o lu tio n a r y m o v e m e n t in C a ta lo n ia . T h e s itu a tio n in B a r c e lo n a is a lw a y s so b a d t h a t a n y p e r m a n e n t s e t t le m e n t c a n n o t r e a s o n a b ly b e lo o k ed for; s u ffic e it t h a t fo r th e t im e b e in g th e m o re v i o le n t fa c tio n s h a v e b e e n q u ie te d . T h e r e s u lt o f th is is a n a d v a n c e in th e p r ic e o f c o n so ls, a n im p r o v e m e n t in F r e n c h r e n te s a n d a h a r d e n in g g e n e ra lly o f in v e s t m e n t s e c u r itie s a n d m in in g sh a r e s. A ll th e sa m e , b u s in e s s is b y n o m e a n s a c t iv e . T h is is p a r tly d u e n o d o u b t t o t h e h o lid a y sea so n ; b u t it is c u r io u s, w ith s o m a n y fa v o r a b le fa c to r s , t h a t m a r k e ts , a lth o u g h firm , s h o u ld b e so i n a c t iv e . T h e s e t t le m e n t o f th e co a l s tr ik e la s t w e e k in t h e N o r th o f E n g la n d h a s h a d , of c o u r se , a fa v o r a b le in flu e n c e o n th e p r ice o f h o m e r a ilw a y s to c k s , b u t th e resu lt h a s b e e n fa r fr o m s a t is f y in g th e m o re a r d e n t “ b u ll” a n tic i p a t io n s . M o n e y is e x c e e d in g ly c h e a p a n d p le n tifu l, a n d th e sh o r tlo a n r a te s ra n g e fr o m % % u p to % % , a n d fo r a w e e k or so a s m u c h a s 1% h a s b e e n o b ta in e d . I n t h e d is c o u n t m a rk et it h a s b e e n fo u n d p r a c tic a lly im p o ss ib le t o m a in ta in th e rate firm a t 1 % %• T h e B a n k r etu rn is n o t a n e s p e c ia lly str o n g o n e; th e reser v e is u n d e r 27 m illio n s ste r lin g a n d t h e coin a n d b u llio n it e m 3 8 ^ m illio n s . B o t h th e s e figu res sh o w a co n sid e r a b le r e d u c tio n o n th o s e of la s t w e e k , in s p ite of an in flu x fr o m a b r o a d in to th e L o n d o n m a r k e t o f n e a r ly h a lf a m illio n s te r lin g . T h is is d u e to th e u s u a l e n d -o f-th e -m o n th r e q u ir e m e n ts , a n d a ls o , of co u r se , to th e h o lid a y se a so n . T h e r e s e r v e is s o m e tw o m illio n s ste r lin g h ig h e r th a n a t th is t im e la s t y e a r . T h e I n d ia C o u n cil h a s a g a in b e e n s u c c e ssfu l in th e d isp osal o f i t s d r a fts , a c a ll fo r 3 0 la c s e lic itin g a p p lic a tio n s for o ver t w o cro r es. T h e p r ice s o ffer e d , h o w e v e r , w e re n o t s u c h a s to in d u c e a n y in c r e a se in th e a llo t m e n t . T h e b ills w ere so ld o n t h e b a s i s o f I s . 3 2 9 -3 2 d ., w h ic h r e c e iv e d n e a r ly a q u a rter, t h e b a la n c e g o in g a t a sm a ll fr a c tio n h ig h e r . T h e to ta l sa les th is y e a r , h o w e v e r , t e s t if y to th e im p r o v in g s t a t e of A n gloI n d ia n tr a d e . T h e a m o u n t r ea lize d sin c e th e b e g in n in g of A p ril is j u s t u n d er 8% m illio n s s te r lin g . I t w ill b e rem em b e r ed t h a t a t th is t im e la s t y e a r th e a m o u n ts te n d e r ed a n d a c c e p t e d w e r e q u ite in s ig n ific a n t, th e n e t r e s u lt of th e fou r m o n th s fr o m A p ril to t h e e n d o f J u ly sa le s b e in g o n ly a l it t l e o v e r h a lf a m illio n . T h e fo llo w in g retu rn sh o w s t h e p o s itio n o f th e B a n k of E n g la n d , th e B a n k r a te o f d is c o u n t, th e p r ic e o f c o n so ls, & c ., c o m p a r e d w ith th e la s t fo u r y ea rs: 1909. A u g . 4. 1906. 1 908. 1907. A u g . 5. A u g . 7. £ 2 9 ,8 9 8 ,9 7 0 5 ,2 4 3 ,7 2 8 4 5,3 8 0 ,0 7 0 1 5,532,293 2 8 ,5 19,951 24 ,6 0 8 .4 6 1 3 6 ,0 5 7 ,4 3 6 £ 1905. A u g . 8. £ £ A u g . 9. £ 2 9 ,8 6 2 .4 0 5 30,027,075 2 9 ,9 39,255 C irculation_________ 3 0 ,2 0 7 ,4 2 0 8,403,655 6 ,4 6 8 ,1 2 0 9,905.595 P u b lic d e p o sits____ 7,240,081 43 ,9 5 4 653 42,241,443 43,096,343 O ther d e p o sits_____ 45,63 2 ,3 0 0 16 ,0 7 8 ,3 7 6 15,972,452 17,069,815 G o vern m ’t secu rities 15,365,672 2 8 ,8 3 6 .5 8 2 28,129,246 29,194,521 O ther se cu ritie s____ 28,68 5 ,4 5 6 23 ,6 5 0 ,0 6 3 21,735,316 24,808,074 R eserve notes& coln 26,8 1 6 ,8 6 0 3 5 ,0 6 2 ,4 6 8 36,312,391 36,297,329 C o ln & b iill.,b o th d e p 3 8 ,5 7 4 ,2 8 0 P rop , reserve to 11a46 m 46 % 48m 46m H ltle s_______ p . c . 50 )4 4 2 B an k r a te .......... p . c . 2)4 86 5-16 82 9 16 88m 90 3-16 C on sols, 2)4 p . C-.84% _______ 24M d. 32 l-1 6 d . 30,m d. 27m d _S i lv e r _____________ 23)4 d . Clear.-house returns 276,504,000 228,076,000 234,061,000 195,150,000 198,940,000 2m 3m m T h e r a te s fo r m o n e y h a v e b e e n a s fo llo w s: 2m 2m m 1H im 2m 2@ 2m Ih J u ly 16. 2m ’ 1 3-16 m 1 7-16 2® J u ly 23. J u ly 30. A ug. 6. B an k of E n gland r a te _______ Open M arket rate— Bank bills— 60 d a y s _____ — 3 m o n th s____ — 4 m o n th s____ — 6 m o n th s____ Trade b ills— 3 m o n th s-----— 4 m o n th s-----Interest allowed lor deposits— B y jo in t-sto c k b a n k s_____ B v d iscou n t houses— A t c a ll_____ ___________ 7 to 14 d a y s . . . ---------- 2m 1 3-16 1 3-16 1% @ 1 7 -1 6 i m @ 1 7 -1 6 1 9-16 1)4 @1 11-16 2m 2 3-16 2@ 2m 2m 2% i i 2K @2H 1 1 i l 1 1 m IK IK IK 2)4 2)4 @2)4 T h e b a n k r a te s o f d is c o u n t a n d o p e n m a r k e t r a te s a t th e c h ie f C o n tin e n ta l c itie s h a v e b e e n a s fo llo w s: J u ly 3 1 . Fates of B ank Open Interest at— Rate. .M arket. P a r i s _____ _______ IK B erlin ______ ______ . . . 3)4 2K H am b u rg _________ . . . 3% 2K Frankfort ............... . . . 3 )4 2 )4 A m sterdam ............. . . 2 )4 1K B ru ssels _________ . . . 3 IK V ienna ...................... . . S t. P etersb u rg ____ . . . M adrid........................ . . . Copenhagen ______— 4 5% 4)4 5 3 nom . 3K 4 J u ly 2 4 . Bank Open Rate. M arket. 3 IK 3 )4 2K 2% 3*4 3 )4 2 1-16 m 2 )4 m 3 4 2% 5 )4 4)4 5 J u ly 17. Bank Open Rate. M arket. 3 IK 3 )4 2 Vs nom . 3 )4 4 314 3)4 3 3 4 5)4 4)4 5 2 )4 2 t4 IK J u ly 10. B ank Open Rate. M arket. 3 1K 3)4 2K 3)4 2K 3 )4 2K 1)4 2K n om . 3 )4 4 3 3 4 5)4 4)4 5 D4 D4 2% nom 4 4 T h e q u o t a t io n s fo r b u llio n a re r e p o r te d a s fo llo w s: G O LD . London Standard. A ug. 5., s. d. Bar g o ld , fine, o z ___ . . 77 9 U . S . gold coin , o z . . . . . 7 6 4 G erm an gold coin , oz.. . 76 4 French gold coin , o z . . . 7 6 4 Japanese y e n . . ............ 7 6 4 M essrs. P ix le y A u g . 5: J u lu 29. s. d 77 9 76 4 76 4 76 4 76 4 S IL V E R . London Standard. A ug. 5. d. B ar silv er, fine, o z . . - 2 3 ) 4 “ 2 m o. d e liv ery , o z - 2 3 1/^ Cake silv er, o z -------M exican d o lla rs------- .„ n o m . J u ly 2 9 . d. 2 3)4 23% 25% nom . & A b ell w r ite a s fo llo w s u n d e r d a t e o f G O L D .— T he dem and for th e C ontinent has again b een v e r y lim ited , and o u t o f £ 7 7 0 ,0 0 0 arrived, probably n o t m ore than £ 3 0 0 ,0 0 0 will go abroad, the balance, a fter sa tisfy in g India and th e trade, going to the B an k o f E n g la n d . N e x t week we e x p e c t £ 6 0 4 ,0 0 0 from South Africa. T h e B an k has receiver! £ 4 4 1 ,0 0 0 in bars and £ 1 4 ,0 0 0 In sovereigns, the la tter from France, w h ile there h a v e been no w ith d raw als. Arrivals: South A frica, £ 5 5 4 ,0 0 0 : India, £ 1 0 6 ,0 0 0 : A u stralia, £ 1 1 6 .0 0 0 ; w e s t A frica, £ 5 ,0 0 0 ; to ta l, £ 7 7 1 ,0 0 0 . Shipm ents: B o m b a y , £ 4 9 ,5 0 0 ; Madras, £ 7 ,5 0 0 ; to ta l, £ 5 7 ,0 0 0 . . S IL V E R .— T he conditions In th e silv er m ark et h a v e n o t changed during the w e e k . T h e b u ying h as com e chiefly from India, p a rtly for th e S ep tem b er se ttle m e n t and m ain ly from speculators covering their •'short” positions In L on don, b u t as b u y in g b y th e la tte r has to a certain e x te n t been sim u lta n eo u s w ith sellin g o f th eir holdings In B o m b a y , th e effect on the m arket has n o t been large, a n d , a fter rising to 23 9-16d. we close q u ie tly , to -n ig h t, a t 2 3 m d ., or m d . higher than on th e d ate of our la st circular. Trade In China Is reported as being a lm o st a t a sta n d still, and In conse quence their tran saction s In silv er ha v e been very' sm a ll. The N orth G erm an m all to o k £226,000 in silv er this w eek to China, and sto c k s here are lighter to a b o u t th a t e x te n t. Stocks In B o m b a y now am o u n t to 12,500 bars and will be Increased to a b o u t £ 1 ,8 0 0 , 000 b y th e tim e of th e A u gust s e ttle m e n t. T he bazaars h a v e been q u iet to -d a y , but It Is probable th e y will send fresh orders for n e x t w eek's steam er, so a n y set-b a ck In price Is unlooked for a t p resen t. T h e price In India Is R s . 60 3-16 ner 100 to la h s. Arrivals: N ew Y o rk , £194,000: M exico, £10,000; to ta l, £204,000. Shipm ents: S han ghai, £251,000; C alcutta, £26,500; B o m b a y , £ 1 0 ,0 0 0 ; M adras. £7,500; to ta l, £295,000. T h e fo llo w in g sh o w s t h e im p o r ts o f cerea l p r o d u ce in t o th e U n ite d K in g d o m d u rin g t h e se a so n to d a te , c o m p a r e d w ith p r e v io u s sea so n s: IM PO R T S. Forty-eight Weeks— 1908-09. 1907-08. 1906-07. 1905-06. Im p orts of w h ea t__________ c w t . 8 2 ,7 8 4 ,3 0 0 8 5 ,9 3 5 ,3 5 0 8 0 ,5 1 3 ,6 5 2 8 5 ,3 8 0 ,9 9 0 B arley _________________________ 2 0 ,7 3 6 ,8 0 0 19 ,2 6 9 .6 8 6 18 ,6 5 2 ,4 3 4 1 9 ,4 2 6 .800 O ats .... 13 ,8 2 7 ,4 0 0 12 ,1 3 5 ,1 9 9 9 ,8 7 7 .4 1 4 14,540,900 Pans 1 ,3 8 5 ,5 4 0 1 ,3 3 2 ,9 8 0 1 ,5 9 6 ,7 7 0 1 ,6 0 2 ,7 7 5 B e a n s " _________________ 1 ,1 9 5 ,2 2 0 9 2 0 ,5 4 0 401 ,1 1 0 5 7 2 ,360 Indian c o r n .. ________ 3 4 ,4 8 3 ,6 0 0 3 6 ,2 0 3 ,2 5 7 4 5 ,9 6 2 ,4 7 0 4 2 ,0 5 8 ,3 0 0 Flour ________________ 1 0 ,4 1 2 ,9 0 0 1 2 ,7 9 2 ,2 0 0 1 2 .4 22,072 13 ,437.170 S u p p lie s a v a ila b le fo r c o n s u m p tio n (e x c lu s iv e o f s to c k o n S e p te m b e r 1): 1908-09. W heat im p o rted ___________c w t . 8 2 ,7 8 4 ,3 0 0 Im p o rts of flour.......... ....................... 1 0 ,4 1 2 ,9 0 0 S ales of hom e-grow n.................... . . 2 5 ,5 0 2 ,2 1 6 1907-08. 1906-07. 1905-06. 8 5 ,9 3 5 ,3 5 0 8 6 ,5 1 3 ,6 5 2 8 5 ,3 8 0 ,9 9 0 12 ,7 9 2 ,2 0 0 1 2 ,4 22,072 1 3 ,4 37,170 3 2 ,3 8 9 ,8 9 2 3 3 ,8 6 0 ,7 8 8 2 7 ,6 6 4 ,368 T o ta l ........................................... ..1 1 8 ,6 9 9 ,4 1 6 1 3 1 ,1 1 7 ,4 4 2 1 3 2 ,7 9 6 ,5 1 2 1 2 6 ,482,528 A verage price w h ea t, w e e k _____ 43s. 5 d . 3 4s. lO d. 3 2 s. l i d . 3 0 s. 5d . 3 6 s. Od. 3 3 s. Od. 2 7 s. 7 d . 28s. 9 d . Average price, sea so n ___________ T h e fo llo w in g sh o w s th e q u a n titie s o f w h e a t , flour a n d m a iz e a flo a t to th e U n ite d K in g d o m : T his week. Last week. 1908. 1907. 2 ,0 9 5 ,0 0 0 1 ,7 0 0 ,0 0 0 2 ,3 4 0 ,0 0 0 115,000 1 00,000 140,000 88 5 ,0 0 0 9 8 0 ,0 0 0 8 3 5 ,0 0 0 1 ,0 3 0 ,0 0 0 W h e a t _______ _____ - ................ q r s . 2 ,1 2 5 ,0 0 0 F lour, equal t o . . .............. .... q r s . 1 15.000 M aize ________________ -q r s. E n g lis h F in a n c ia l M a r k e ts — P e r C a b le. T h e d a ily c lo s in g q u o ta tio n s fo r se c u r itie s , & c. a t L o n d o n , a s r ep o rte d b y c a b le , h a v e b e e n a s fo llo w s t h e p a s t w eek : London. Week ending August 13. Sat. M on. Silver, p e r o z ---------------------- d 2314 2314 C onsols, n ew , 214 p e r c e n t s .. 8414 84 3-16 For a c c o u n t---------------------- 84 7-16 8 4)4 French R en tes (In P a r is ).fr . 9 8 .0 5 9 8 .0 0 A m algam ated Copper C o-- 88 8714 fiAnaconda M ining C o---- 10)4 1014 A tch iso n T op ek a & S a n t e F e .123 12314 p r e fe r r e d ..................... ........... 108 10714 B altim ore & O h i o . . . ..............123 12214 P r e fe r r e d .............. .................. 95 )4 95 )4 Canadian P acific----------------- 192)4 192 C hesapeake & O hio-------- 82)4 82K Chicago G reat W estern ------4)4 4)4 Chicago M llw. & S t. P a u l.. .1 6 5 ) 4 166)4 D e n v e r & R io G ra n d e .... 52 )4 5 2)4 P r e fe r r e d -------------------- 88 )4 88)4 E r i e ........................ .................. .. 3 9)4 39 F irst Preferred------------- 58 5 7 )4 Second Preferred--------- 47 47 Illin ois Central------------------- 161 161)4 L o u isv ille & N a s h v lle ............150)4 152 M issouri K ansas & T e x a s . .. 44)4 44 )4 p r e fe r r e d ----------------- ------- 76 )4 76)4 N a t. R R . of M ex. 1st P r e f .. 53)4 53K Second preferred-------- 25 )4 25)4 N . Y . C e n tr a l* H udson R lv . 145 144)4 N . Y . O ntario & W e s t e r n ... 53 53)4 N orfolk & W estern______ 99 99 P r e fe r r e d ---------------------95 )4 95 )4 N orthern P a cific........................160)4 160 a P e n n s y lv a n la ------- ------------7 2 )4 7 2 )4 o lle a d ln g .......... ......................... 84 )4 84 aF irst Preferred............. 4 8 )4 48 )4 aSecond Preferred............ 5214 52)4 R o ck Isla n d ............................... 4 0 )4 41 Southern P a cific----------------- 139)4 139)4 Southern R a ilw a y ............. 3314 33 P r e fe r r e d ............................7 4)4 74 )4 U n ion P a cific...................... . .. 2 0 S ) 4 209)4 P r e fe r r e d ................................107 107 U . S . Steel C orporation__ 7 8 )4 7 9)4 P r e fe r r e d .............. ..................132)4 132)4 W a b a s h ------------------------- 2 2 )4 2 2 )4 P r e fe r r e d ................ ................ 60 59 )4 E x te n d e d 4 s .......................... 8 0 80 a Price per share. Tucs. W ed. T hurs. F rl. 2314 8414 84 3-16 9S.05 8714 10)4 123)4 107)4 123)4 95)4 192 8314 4)4 167 53 90)4 39 5714 47 )4 161 156)4 44)4 77 53 )4 25 )4 144)4 53)4 98 95)4 161 7 2 )4 84)4 48)4 52)4 41)4 139 33)4 75 210)4 107)4 80 132 22^ 59)4 80 2 3)4 84 1-16 84 % 98.0714 89)4 10)4 123M 107)4 123)4 95)4 191)4 84 M 23)4 84 3-16 84 M 9 8 .1 2 )4 91)4 10)4 124 108 123 K 98 191)4 85)4 4 165 53 K 92 39 )4 57 K 47)4 162)4 165)4 44)4 77 54 25)4 145 53 99 94 163)4 7 2)4 84)4 48)4 52 )4 43 )4 140)4 3 5)4 76)4 214)4 108)4 80)4 130)4 22 )4 60 80)4 23 9-16 84 % 84 5-16 9 8 .0 7 K 90)4 10)4 124 107)4 123 9 5)4 191)4 85)4 3 )4 164)4 53 91 3 8 )4 57)4 47)4 165 164)4 43 )4 77 54 25 K 147)4 53 98 93)4 163 7 3 )4 84)4 48)4 52 )4 42)4 140 3 4 )4 76 216 K 111 4K 167)4 53 K 91)4 38 K 57)4 47 K 161 159)4 44 K 77 53 K 25 143)4 53 K 08 94)4 160)4 72)4 83 )4 48)4 52)4 42)4 138)4 34 75 )4 209)4 107)4 79 )4 131 K 22 K 59)4 80 ' 70% 129)4 22)4 59 80 5 £ sterling. (Com m ercial and ItX isccU aiveou silcm s ~ ^ ailuresHForT 1 ^ J A N . 1 .— T h e fo llo w in g fig u r es, p r e p a r e d fr o m M essrs. I t. G . D u n & C o .'s s t a t e m e n t , sh o w th e n u m b e r o f fa ilu r e s in t h e U n it e d S ta te s a n d C a n a d a d u rin g th e q u a r te r e n d in g J u n e 3 0 1 9 0 9 a n d for th e s ix m o n th s e n d in g w it h th e sa m e d a t e . F o r p u r p o se s of c o m p a r iso n lik e fig u res fo r t h e c o r r e s p o n d in g p e r io d s o f th e p r e c e d in g y e a r a re g iv e n : -----------1909------------------------1 9 0 8 --------N o .o / Am ount of N o. of A m ount of Second Quarter— Failures. Liabilities. Failures. Liabilities. New England States........................................ 241 $3,571,848 409 $3,898,385 Middle States____ _______ 662 22,316,507 996 20,126,827 Southern States___________ 605 5,647,005 627 7,784,425 Southwestern S t a t e s ........... ........................ 257 1,592,774 395 2,339,634 Central Western States________ 623 6,275,515 648 9,215,957 Far Western S t a t e s ............................... 277 1,941,773 310 1,825,615 Pacific States.......................................... 316 2,595,952 415 3,477,799 Aggregate United S t a t e s ...........................2,981 $44,080,423 3,800 $48,668,642 Dominion of Canada..................... Banking failures In United States (not included In above)......... ........................... 25 S ix M onths — , New England States................ 577 Middle States......... ............... 1,520 1,517 Southern States........... ........... Southwestern States......................... 636 Central Western States......................... 1,291 Far Western States......................................... 647 Pacific States....................... 643 — ............ „„„ $9,600,894 369$3,298,822 „„ 69 $10,128,622 $6,503,165 35,257,932 17,589,221 4.657,138 14,36),045 5,325,829 4,848,043 893 $8,879,444 2,155 50,017,956 1,641 21,598,261 882 6,114,124 1,463 22,918,166 772 V 5,900,487 903 "r 8,946,395 $88,541,373 8,709 $124,374,833 Aggregate United States................... 6,831 Dominion of Canada......................................... Banking failures In United States (not Included In above)....... ................................ 761 $7,629,259 44 $15,461,554 881 $8,335,725 120 $70,880,245 T h e reco rd o f fa ilu r e s in th e U n ite d S t a t e s b y q u a r te r s fo r t h e first s ix m o n th s of th e la s t tw e n t y - t h r e e y e a r s is a s fo llo w s: Years , : , . .. . * ; j . ’J j -n ",i 4 ’ ,i ’’. i ’,'3 ■A •• u t ----- First ' . J '< Quarter----- S e c o n d Quarter— No. o/ Amount of No. of Amount of Failures. Liabilities. Failures. Liabilities. ............................... 3 ,007 f SR7 ‘ i s S R ..................................... 2 ,9 4 8 t o o n ................ - .3 ,3 1 1 t o o n ................................ 3 ,2 2 3 t o n t ............................. ....................... - ................ - .3 ,5 4 5 1RQ2 "........................ 3 ,3 8 4 i q q r ......................I ! ............................- ...................3 ,202 i cq4 " ................ 4 ,304 l o g s ' " ' .......... ........................................................... 3 ,8 0 2 4,031 jo o R ________ >897 ..................................- ------------------------------3,9 3 2 1898 3 ,687 1899 ” ................. - ................................................. 2 ,772 1900 ’ ...........................- ...................- ..................... 2 ,894 1901 .................................................................... 3 ,335 1902 ....... ...3 ,4 1 8 1903 .............. 3 ,2 0 0 1904 ......................... ................ - - - ........... 3 ,344 1905 ......................................................... . . 3 , 4 4 3 1 9 0 6 ................. - _________________________ ..3 , 1 0 2 1907 - - - ______________...............................3 ,1 3 0 1908 ........... .............................................- .4 ,9 0 9 1 9 0 9 ........ ................ - - - ______________________ 3 ,8 5 0 $ 3 2 ,1 0 1 ,7 6 2 1,905 $ 2 2,970,330 3 8 ,8 8 4 ,7 8 9 :2 ,2 4 1 ; 29,2 2 9 ,3 7 0 4 2 ,9 7 2 ,5 1 0 s 2 ,2 9 2 " 22,850,337 7 3 7 ,8 5 2 ,9 0 8 7 2 ,102 i 2 7 ,466,410 1 4 2 ,1 6 7 ,0 3 1 7 2 ,5 2 9 < 50,248,036 3 9 ,2 8 4 ,3 4 9 2 ,1 1 9 '2 2 ,9 8 9 ,3 3 1 4 7 ,338,300 > 3 ,1 9 9 121,541,239 6 4 ,1 3 7 ,3 3 3 t 2 ,7 3 5 37,001,973 . 4 7 ,8 1 3 ,0 8 3 :■ 2 ,8 5 5 .4 1 ,0 2 6 ,2 6 1 5 7 ,4 2 5 ,1 3 5 -2 ,9 9 5 ; 40,444,547 < 48,0 0 7 ,9 1 1 2 ,8 8 9 . 43,684,876 . 3 2 ,9 4 0 ,5 0 5 3 ,0 3 1 ,3 4 ,4 9 8 ,0 7 4 2 7 ,1 5 2 ,0 3 1 2,081 14,910,902 3 3 ,0 2 2 ,5 7 3 \ 2 ,4 3 8 4 1 ,724,879 , 3 1 ,7 0 3 .4 8 0 2,424 24,101,204 3 3 ,7 3 1 ,7 5 8 ■2,7 4 7 2 6 ,6 4 3 ,0 9 s 3 4 ,3 4 4 ,4 3 3 2 ,4 2 8 3 2 ,4 5 2 ,8 2 7 4 8 ,0 6 0 ,7 2 1 2 ,8 7 0 3 1 ,4 2 4 ,1 8 g 3 0 ,1 6 2 ,5 0 5 2 ,767 2 5 ,7 4 2 ,0 8 0 j 3 3 ,7 6 1 ,1 0 7 2 ,5 1 0 2 8 ,9 0 2 ,9 6 3 2 ,0 7 5 ,5 9 1 2,471 3 7 ,4 9 3 ,0 7 , J, 75,706,191 . 3 ,800 4 48,608,64 ~ 4 4 ,4 6 0 ,9 5 0 ;. 2,9 8 1 . 4 4 ,0 8 0 ,4 2 2 3 B A N K N O T E S— C H A N G E S I N iT O T A L S O F, A N D IN D E P O S I T E D B O N D S , & c.— W e g iv e b e lo w ta b le s w h ic h sh o w a ll th e m o n th ly c h a n g e s in b a n k n o t e s a n d in b o n d s a n d leg a l te n d e r s o n d e p o s it. The statement for July 1908 will be found in our issue for August 8 1 9 0 8 , page 3 2 5 . Bonds and Legal-Tenders on Deposit for B ank Circulation. Ju ly June May A pr. Mch. F eb . Ja n . D ec. N ov. O ct. S e p t. A u g. 3 1 ____ 3 0 ____ 3 1 ____ 3 0 ____ 3 1 ____ 2 8 ____ 3 0 ____ 3 1 ____ 3 0 ____ 3 1 ____ 3 0 ____ 3 1 ------ Circulation Alloat Under Bonds. LegalTenders. Bonds. LegalTenders. Total. S 66 7.652,650 660,689,070 6 5 7 ,9 7 2 ,9 7 0 6 5 3,901,910 6 5 1,267,130 640,769,140 635,214,560 631,3 1 8 ,7 9 0 6 1 8,497,940 632,624,850 632.871,890 631.607,490 $ 2 7 ,8 4 5 ,4 3 3 3 0 ,2 4 6 ,6 6 6 3 1 ,9 1 4 ,8 4 7 3 4 ,2 4 3 ,6 5 7 3 8 ,2 6 5 ,2 2 5 4 2 ,6 9 6 ,7 1 5 4 6 ,3 6 3 ,4 5 5 4 8 ,2 8 1 ,9 6 0 52,2 7 0 ,9 1 2 39,0 6 5 ,6 3 7 4 8,639,442 5 9 ,3 3 9 .1 1 5 $ 667,5 0 8 ,7 3 1 659,6 7 3 ,4 0 8 6 5 6 ,2 6 8 ,2 6 8 65 3 ,1 6 4 ,5 7 0 64 6 ,1 4 2 ,3 9 0 63 5 .5 8 8 .8 8 5 6 3 0,309,637 62 8 ,7 8 6 ,2 0 5 01 4 ,9 0 7 ,2 6 5 6 2 6 .7 7 9 ,3 5 0 62 6 .9 7 2 .8 8 5 6 2 5 .9 8 6 ,9 9 3 5 27,8 4 5 ,4 3 3 3 0 ,2 4 6 ,6 6 6 31,9 1 4 ,8 4 7 3 4 ,2 4 3 ,6 5 7 3 8 ,2 6 5 ,2 2 5 4 2 ,6 9 6 ,7 1 5 4 6 ,3 6 3 ,4 5 5 4 8 ,2 8 1 ,9 6 0 6 2 ,2 7 0 ,9 1 2 3 9 ,0 6 5 ,6 3 7 4 8 ,6 3 9 ,4 4 2 5 9 ,3 3 9 .1 1 5 $ 695.3 5 4 .1 6 4 689,9 2 0 ,0 7 4 6 8 8 ,1 8 3 ,1 1 5 687,4 0 8 ,2 2 7 6 8 4 ,4 0 7 ,6 1 5 67 8 ,2 8 5 ,6 0 0 67 6 ,6 7 3 ,0 9 2 6 7 7 .0 0 8 .1 6 5 667,1 7 8 ,1 7 7 665,8 4 4 ,9 8 7 675,6 1 2 ,3 2 7 68 5 .3 2 6 ,1 0 8 T h e fo llo w in g sh o w s th e a m o u n t o f e a c h c la s s o f b o n d s h e ld a g a in s t n a tio n a l b a n k c ir c u la tio n a n d t o s e c u r e p u b lic m o n e y s in n a tio n a l b a n k d e p o s ito r ie s o n J u ly 3 1 . U . S . Bonds Held J u l y 31 to SccureBonds on Deposit J u ly 31 1909. 2% Panam a Canal, 1916-1936 . . . 4% L oan of 1925 ................................ 3% L oan of 1 9 0 8 -1 9 1 8 ..................... 2% Consols 1930 ................................ 2% P anam a Canal, 1918-1938___ 3.65% D istrict of Colum bia, 1924 S ta te , c ity and railroad b o n d s .. . H aw aiian Island b o n d s ........... ....... Philippine lo a n __________________ Porto K Ico............... ............................... T otal A u g. 2 1909_____________ B ank Circulation. $ 4 7 ,9 9 6 ,7 0 0 1 2,811,550 1 4,059,820 56 7 ,5 2 9 ,1 0 0 2 5 ,2 5 5 ,4 8 0 667,6 5 2 ,6 5 0 PubllcDeposlts In B anks. Total Held. $ 3 .9 2 9 .0 0 0 4 ,0 6 0 ,7 0 0 4 ,0 9 1 ,9 0 0 2 8 ,0 9 2 ,7 0 0 1 .238.000 1.120.000 16,2 9 4 ,2 2 5 5 6 6.000 5 ,2 1 6 ,0 0 0 509.000 $ 5 1,925,700 16,872,250 18.151,720 595,6 2 1 ,8 0 0 2 6 ,4 9 3 ,4 8 0 1,120,000 16,294,225 566,000 5 ,2 1 6 ,0 0 0 509,000 6 5 ,1 1 7 ,5 2 5 $ 7 3 2 ,770,175 T h e fo llo w in g sh o w s th e a m o u n t o f n a tio n a l b a n k n o te s a flo a t a n d th e a m o u n t of le g a l-te n d e r d e p o s its J u ly 1 a n d A u g . 1 a n d th e ir in c re a se or d e c re a se d u rin g th e m o n th of J u ly . Breadstuffs I gures Brought from Page 423.— T h e s t a t e m e n t s b e lo w a re p rep a red b y u s fr o m fig u res c o lle c te d b y t h e N e w Y o r k P r o d u c e E x c h a n g e . T h e r e c e ip ts a t W e ster n la k e a n d r iv e r p o r ts for t h e w e e k e n d in g la s t S a tu r d a y a n d s in c e A u g u s t 1 fo r e a c h o f th e la s t th r e e y e a r s h a v e b een : Receipts at — C h ic a g o ____ M ilw a u k e e .. D u lu th _____ M inneapolis . T o le d o _____ D e tr o it_____ C leveland . . S t . L o u is___ P e o r i a _____ K an sa s C ity. Flour. Barley. Oats. Corn. Wheat. Rye. bbls.lOGlbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu .56 lbs. 155,636 4 1 ,125 68,000 3 ,9 1 2 285 6 7 ,650 4 1 ,000 2 ,4 0 6 ,3 6 8 2 5 9,600 110.199 78 1 .2 0 0 30 2 ,0 0 0 34 ,3 5 9 1,000 1,360,447 167,576 1 ,3 4 6 ,1 0 0 1,3 3 6 ,1 5 0 147,100 34,787 110,550 7 1 ,000 46,556 29,573 648,385 162,800 2 8 2,800 1 ,5 2 3 ,2 5 0 7 9 .500 21,715 7 0 ,1 7 0 3 1 .500 52,957 18,300 6 4 3,030 3 2 4,065 156,000 124,500 6 6 ,300 2 2 ,042 9 2 ,400 26,5 0 0 2,6 0 0 10,000 6,000 1,000 6,000 18,500 7 ,0 0 0 T o t .w k /0 9 Sam e w k . ’08 Sam e w k . ’07 37 7 ,6 0 8 412,622 3 6 4,472 0 ,7 6 8 ,8 4 9 6 ,7 8 8 ,9 5 0 7 ,1 6 7 ,7 6 7 2,8 6 9 ,7 0 1 2 ,1 2 3 ,9 2 7 2 ,7 2 9 ,4 8 5 2 ,9 2 0 ,4 8 7 3,892,461 1 ,978,372 317,842 34 7 ,8 4 0 156,712 65,000 S6,579 SO,274 Since A u g. 1 190 9_____ 190 8_____ 1907_____ 377 ,6 0 8 412,622 7 5 3,095 6 ,7 6 8 ,8 4 9 0 ,7 8 8 ,9 5 0 1 2,837,370i 2,8 6 9 ,7 0 1 2 ,1 2 3 ,9 2 7 5 ,1 8 0 ,8 2 8 2 ,9 2 0 ,4 8 7 3 ,S 9 2 ,4 6 li 3 ,7 1 8 ,9 1 5 37.S42 34 7 ,8 4 0 3 6 2,649 65,000 S6.579 129,828 T o ta l r e c e ip ts o f flour a n d g r a in a t t h e s e a b o a r d p o r ts for th e w e e k e n d e d A u g u s t 7 1909 fo llo w : Receipts at— N ew Y o r k ............... B o s t o n ___________ P h ila d e lp h ia _____ B a ltim o r e ________ R ic h m o n d _______ N ew O rleans * ____ N ew p o rt N e w s____ N o r fo lk ___ G alveston . M obile M o n tre a l................... Flour, bbls. Wheat, bush. Corn, bush. Oats, bush. 112,025 25,093 52,107 3 2 ,3 4 8 3 ,233 18,960 3 ,3 3 8 357 22 1 ,4 0 0 5 1 ,400 25 1 ,2 7 0 32 7 ,1 9 8 43,804 7 5 ,800 123,775 4 8 ,100 2 4 ,0 0 0 2 7 ,559 5 1 ,2 2 6 7 1 ,4 0 0 29 3 ,0 0 0 6 7 ,595 4 9 ,7 5 8 10,323 2 1 ,6 1 2 54 ,0 0 0 199,000 3 ,0 0 0 8,200 4 9 ,075 112,961 2 ,9 5 0 29 ,9 5 4 60 2 .4 2 0 Barley, bush. R ye, bush. 6 ,9 0 0 1,715 3 ,2 5 1 700 3 ,0 0 0 12,566 T o ta l w e e k ........... 2 80,365 1,7 7 2 ,2 9 2 40 4 066,3 ,33355 612,249 6,575 3 7 ,6 3 3 W eek 190 8 ............... 2 94,396 3 ,9 8 3 ,1 0 9 148,031 148,031 7 0 8,949 Since Ja n . 1 1 9 0 9 .-8 ,5 1 1 ,9 7 4 3 9 ,3 8 9 ,9 8 3 2 8 ,6 4 9 ,3 7 7 2 5 ,9 6 8 ,9 9 7 4 189,859 496,769 Since J a n . 1 1 9 0 8 .-9 ,7 6 7 ,3 7 9 4 9 ,8 2 0 ,3 3 0 2 6 ,4 5 6 ,0 7 2 2 4 ,4 2 4 ,9 2 0 2 9 6 0 ,5 3 8 1 184,675 * R eceip ts do n o t Include grain passing through N ew O rleans for foreign ports on through b ills o f lading. T h e e x p o r ts fr o m th e s e v e r a l s e a b o a r d p o r ts fo r th e w e ek Wheat, bush. . Exports from — N ew Y o r k ______ B o sto n ______ __ _ P h ila d e lp h ia ____ 160,000 B a ltim o r e _______ 450,775 N ew O rleans _. N ew p o rt N e w s___ G a lv e sto n ............... M obile...................... 4 4 4,000 N o rfo lk __________ T o ta l w e e k ___ 1,0 5 4 ,7 7 5 W eek 19 0 8 _____ 2 .5 3 2 ,9 6 8 Corn, bush. Flour, bbls. Oats, bush. Rye, bush. 10,016 42,857 3 4 ,5 2 0 2 ,6 1 0 12,781 ........... 207 1 9,600 ........... 2 5 ,0 0 0 3 ,0 0 0 1,101 12,034 5,671 4 ,0 4 6 3 ,3 3 8 911 2 ,9 5 0 54,393 357 l ,200 41 ,3 9 8 5 ,0 0 0 8 ,2 0 0 119,321 170,554 108,671 45,022 2 2 ,414 5 4 ,8 9 9 Barley, Peas, bush. bush. 12,781 25 ,0 0 0 2 5 ,844 116,877 3 ,8 0 7 2 ,5 0 8 T h e d e s t in a t io n o f th e s e e x p o r ts fo r th e w e ek a n d s in c e J u ly 1 1909 is a s b elow : -W heat- FlourWeek Exports for week and A u g . 7. since J u ly 1 to — bbls. U n ited K in g d o m __ C on tinent ________ . S o . & C ent. A m er._ W est I n d ie s_______ . B rit. N o . A m . Cols . O ther C ou ntries____ 7 0,719 17,002 10,201 21,081 200 118 T o ta l____________ 119,321 T o ta l 1908________ 170,554 Since J u ly 1 1909. bbls. Week A u g . 7. bush. -Corn- Since J u ly 1 Week A ug. 7 . bush. 1909. bush. Since J u ly 1 1909. bush. 2 ,5 2 0 ,8 5 3 1,716,381 2 8 ,012 42,857 21,344 17,506 25,872 1,092 129,310 193,677 3 6 ,6 4 8 1S5.160 5 ,2 4 0 3 ,204 499,073 1 ,054,775 4 ,2 6 5 ,2 4 6 887,341 2 ,5 3 2 ,9 6 8 1 0 ,4 7 6 .8 0 6 108,671 4 5 ,022 553,239 3 1 8,456 289,419 4 2 ,888 58,191 9 3 ,7 7 0 1,532 13,273 5 7 2,000 4 8 2,775 T h e w o r ld ’s s h ip m e n ts o f w h e a t a n d corn fo r th e w e ek e n d in g A u g . 7 1909 a n d s in c e J u ly 1 19 0 9 a n d 1908 are sh o w n in t h e f o l lo w in g : ___________________________________ National B ank Notes— Total Afloat— A m ou n t a flo a t J u ly 1 1909........................................................................................... $ 6 8 9 ,920,074 N e t am ou n t Issued during J u ly ------------------------------------------------------------5 ,4 3 4 ,0 9 0 A m ou n t on deposit to redeem national bank n o tes A u gust 1 19 0 9------ $ 2 7 ,8 4 5 ,4 3 3 National Banks.— T h e fo llo w in g in fo r m a tio n reg a r d in g n a tio n a l b a n k s is fro m th e o ffic e o f th e C o m p tro ller o f th e C u rren cy , T r e a s u r y D e p a r tm e n t. A P P L IC A T IO N S T O C O N V E R T IN T O N A T IO N A L B A N K S APPROVED. T h e B c lfle ld S t a t e B a n k , B c ltle ld , N . I ) a k ., In to “ T h e F ir s t N a t io n a l B a n k o l B c lf le ld .” C a p it a l, $ 2 5 ,0 0 0 . 1909. Exports. A m ou n t of bank n otes afloat A u gust 1 1909-------------------------------------- $ 695,354,164 Legal-Tender Notes — . . . . . A m ount on d eposit to redeem national bank n otes J u ly 1 19 0 9--------. . . $3 0 ,2 4 6 ,6 0 6 N e t a m ount of bank n otes redeem ed In J u ly -----------------------------------------2 ,4 0 1 ,2 3 3 Week Aug. 7. Bushels. N orth Am er. R u s s ia n ____ D an ublan A rgentin e . . A u s tr a lia n .. I n d i a n _____ O th. countr’s 1 .438.000 1.8 0 0 .0 0 0 1,616,000 6 8 0,000 192.000 2 ,7 7 6 ,0 0 0 136.000 T o t a l ____ 8 ,6 3 8 ,0 0 0 Since J u ly 1. Since J u ly 1. Week A u g . 7. Since J u ly 1. Since J u ly 1. Bushels. Bushels. Bushels. Bushels. Bushels. 67,000 8 .6 7 5 .0 0 0 14,8 0 1 ,7 0 0 4 2 5.000 2 .7 0 4 .0 0 0 10.9 8 4 .0 0 0 2 .2 4 0 .0 0 0 1.008.000 7 0 6.000 8 .9 1 2 .0 0 0 1 2 ,086,000 3 ,1 2 9 ,0 0 0 1 . 200.000 5 4 4,000 13.7 6 0 .0 0 0 \ 2 ,1 7 6 ,0 0 0 9 7 6,000 J 564,000 3 .8 4 9 .0 0 0 5.2 5 9 .0 0 0 2 0 ,0 7 4 ,0 0 0 414,000 2 .1 8 2 .5 0 0 3 .4 4 9 .5 0 0 1 2 ,3 6 2 ,5 0 0 4 6 ,7 4 7 ,0 0 0 2 9 ,7 4 6 ,0 0 0 18,4 08,500 \ ---/ ....... 3 3 ,3 1 9 ,7 0 0 4 ,3 2 7 ,0 0 0 T h e q u a n t it y o f w h e a t a n d co rn a flo a t for E u r o p e o n d a te s m e n tio n e d w a s a s fo llo w s: Corn. Wheat. N A T IO N A L B A N K S O R G A N IZ E D . J u l y 3 0 to A u g u s t 4 . United United 9 .4 0 1 — T h e F ir s t N a t io n a l B a n k o l W e n d e ll, I d a h o . C a p it a l, $ 2 5 ,0 0 0 . K ingdom . Continent. Total. K ingdom . Continent. Total. W . T . S m it h , P r e s id e n t . A . P . S c r lt c h llc ld , V ic e -P r e s id e n t. H . E . B a r r e tt , C a sh ie r . I I . 1). J a c k s o n , A s s is t a n t C a sh ie r . C o n Bushels. Bushels. Bushels. Bushels. Bushels. Bushels. v e r s io n o f T h e F ir s t S t a t e B a n k o f W e n d e ll. A u g. 7 1 9 0 9 -. 1 8 .720.000 1 2 ,8 8 0 ,0 0 0 1 3.600.000 8 .0 7 5 .0 0 0 10.965.000 1 9 .0 40.000 9 .4 0 2 — T h e W h ite la n d N a t io n a l H a n k , W h lte la n d , I n d . C a p ita l, $ 2 5 ,0 0 0J. u ly 31 1 9 0 9 .. 1 7 .920.000 1 2,480,000 3 0 .4 0 0 .0 0 0 7 .5 6 5 .0 0 0 12.410.000 1 9 .9 75.000 S a m u e l E . B r e w e r , P r e s id e n t . M a th e w J . T r a c y , V ic e -P r e s id e n t. A u g. 8 1908 . . 14.720.000 8 .3 2 0 .0 0 0 2 3 .0 4 0 .0 0 0 7 .0 5 5 .0 0 0 5.9 5 0 .0 0 0 1 3 .0 05.000 C h a s. M . D u r h a m , C a sh ie r . A u g. 10 1907- - 1 8 .760.000 8 .8 4 0 .0 0 0 2 7 .6 0 0 .0 0 0 7 .7 6 0 .0 0 0 9 .6 8 0 .0 0 0 1 7 .4 40.000 9 .4 9 3 — T h e F ir st N a t io n a l B a n k o f W o o d la n d , C a l. C a p ita l, $ 5 0 ,0 0 0 . R ic h a r d H . B c a m e r , P r e s id e n t . E d w a r d E . G a d d is , V ic e -P r e s id e n t. M lc a ja h O . D a r lin g , C a sh ie r . J o h n D . D a r lin g , A s s is t a n t C a sh ie r . Auction Sales.— A m o n g o th e r s e c u r it ie s th e fo llo w in g , n o t 9 .4 9 4 — T h e F ir s t N a t io n a l B a n k o f B e n t o n , A r k . C a p it a l, $ 2 5 ,0 0 0 . r e g u la r ly d e a lt in a t th e B o a r d , w e re r e c e n tly so ld a t a u c tio n . A . B . B a n k s , P r e s id e n t . C . S . M cC a in , V ic e -P r e s id e n t. E. S R o d m a n , C a sh ie r . B y M essrs. A d rian H . M uller & Son : 9 .4 9 5 — T h e F ir st N a t io n a l B a n k o f L c e s p o r t, P a . C a p it a l, $ 2 5 ,0 0 0 . Stocks. Stocks. A lb e r t F . M o g e l, P r e s id e n t . C h a rle s D u n k c l, F ir s t V ic e -P r e s id e n t. 50 Joseph G uth C o.................... $20 lo t 3 7 ,5 0 0 M aine M g. & M fg. C o .l D a n ie l H . R c e s c r , S e c o n d V ic e - P r e s id e n t . J a c o b B a g e n s t o s e , 10 Irving N a t. E x ch . B a n k ...2 0 2 J 4 com m on, $1 e a c h .............| T h ir d V ic e -P r e s id e n t. S . M . D e c k , C a s h ie r . 200 Prcdllecta M ining Co. Inter y2 In ter e st In certain lo ts In}$25 lo t im C tfs., $10 e a c h .. $ 1 ^ per sh . w est half o f N o . 10,1 LIQU ID A TIO N . 25 C ity In v estin g Co. c o m --------69 K H a n co ck C o., M e______ J 7 ,1 8 4 — T h e F ir s t N a t io n a l B a n k o f E lg in , M in n . J u l y 31 1 9 0 9 . 25 C ity In v estin g C o ., pref-------1 0 2 ^ 6 G uardian T rust C o________ 164 1 ,5 8 9 — T h e F ir s t N a t io n a l B a n k o f F r e d e r ic k , M d . A u gu st 2 1909. 10 B abcock & W ilco x C o ............108H 2 0 M ortgage B on d Co________ 112J<j 20 M erchants’ N a t. B a n k -------- 163K 3 00 C lyde S .S . C o _______________ 49M C H A N G E O F L O C A T IO N A N D T IT L E O F N A T IO N A L B A N K . Bonds. 18 Catskill A N . Y . S tea m $ 1 0 ,0 0 0 F a lrm o u n t Coal Co. 1 st 5s 6 ,9 6 4 — T h e L a c k a w a n n a N a t io n a l B a n k o f W e s t S e n e c .a , N . Y . , to t h e b o a t C o........................................3 0 1931. J . & J ........................9 7 Vs & t a t. " L a c k a w a n n a N a t io n a l B a n k ,” L a c k a w a n n a , N . Y . DIVIDENDS. The following shows all the dividends announced for the future by large or important corporations: D iv id e n d s a n n o u n c e d th is w e ek a re p r in te d i n ita lic s . N am e of Company. R ailroads (S team ). A labam a G reat S outhern, pret............... Ashland Coal A Iron R y ............................. B altim ore & O hio, com m on............... __ Preferred......................................... . . . ___ Buffalo A Susq.. prcf. (quar.) (N o. 2 9 ) . - B uffalo R och ester & P ittsburgh, com m on Preferred ......................................................... Canadian Pacific, common __ _ ____ Common (extra) ________ " . . . Preferred .................................................... Chicago & A lto n , com m on__________ Prior lien and particip atin g ...................... Chicago MIlw. & S t. P au l, co m . & p r e f- . C h ic. S t. P . M inn. & O m ., co m . & p r e f .. C ln N . O. A Tex. Pac., pref. (guar.) ____ C levelan d <fe P ltts b .. reg. guar. ( q u a r .) .. Special guaranteed ( q u a r .) .. ............... .. Cripple Crk. C entral, p r e f.(q u a r .)(N o .l5 ) Per Cent. 3 5 0c. 3 2 1 2 3 3 K 2 2 2 3K % IH l 1 Delaware A Bound Brook, guar, (guar.) - 2 Illin ois C entral........................... ............. ......... M inn. S t. P au l & S .S .M ., com . (N o . 1 3 ) .. Preferred (N o . 1 3 )________________ L eased line c ertificates-----------------Norfolk & W estern, p r e fe r r e d ............ North Pennsylvania (guar.) --------------O sw ego & Syracu se, gu aran teed .......... P ltts b .C ln .C h lc . & S t . L o u is, c o m m o n .. R eading C om pany, first preferred-----R om e W atertow n & O gd en ., g u ar, (q u .) Toledo A Ohio Central,, com m on- ............ P referred ___________ _________ _____ V andalla — .................................................. 1“ 3K 2 2 2 4K 2 2 IK 1 5 2K When Payable. A u g. S ep t. S e p t. Sept. S ep t. A ug. A u g. S ep t. S ep t. O ct A ug. A u g. S e p t. A ug. S ep t. S e p t. S ep t. S e p t. Aug. S e p t. O ct. O ct. O ct. Aug. A ug. A ug. Aug. S ep t. Aug. Aug. Aug. Aug. Books Closed. D ays Inclusive. H olders o f rec. J uly 24 1 1 1 16 16 30 30 1 16 H olders of rec. H olders of reo. H olders of rec. H olders o f rec. H olders of rec. S e p t. 2 to S e p t. 2 to S e p t. 2 to H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. A u g. 14 to H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. Aug. 12 to H olders of rec. H olders of rec. H olders of rec. H olders of rec. J uly 31a July 31a A ug. 24 A ug. 5 Aug. 5 O ct. 6 O ct. 6 O ct. 0 July30a July30a A ug. 11 Aug. 2 A ug.14a A ug. 10 A ug. 10 A ug. 19 A ug. 19 Aug. 2 O ct. 1 O ct. 1 S ept. 20 Aug. 4 A u g. 19 Aug. 10 Aug. 5 Aug. 24 Ju ly 31 H olders of rec. Aug’. 5a S treet & E lectric R ailw a y s. B oston E le v a te d R y .................................. ■Chicago R ailw ays, Series 1 ............... Columbus (O.) R y ., com. (quar.) (N o. 2 5 ) . C o n n e cticu t R y . & L tg ., com . & p f. (qu.) Grand R apids R y .. com. (quar.) (No. 1 3 ) .. H avan a E le c . R y ., com . (quar.) (N o . 3) Preferred (quar.) (N o . 1 4 )............... Northern Texas Elec. Co., com. (No. 1 )__ • Preferred (N o. 8 ) ........................ .................. N orthw estern E levated (C hicago), p r e f .. Philad elphia C om pany, p ref_________ Portland (O re.) R y .,L t.& P o w e r , com m on S t . Joseph R y ., L t ., H t.& P ., co m . (q u .) Seattle Electric Co., common .......... ......... Preferred (N o. I S ) ................. .................. .. S usqu eh anna R y ., L t. & Pow er, preferred Terre Haute Traction A IAglu, pref. (guar.) T w in C ity R ap . T ran., M inn., com . (q u .) Whatcom Co. R y . A L t., pref. (N o. 1 2 ) . . . 3 $8 IK 1 l 1 IK 3 1 2K 1 K iX 3 2K 3 IX 3 Aug. S e p t. S ep t. Aug. S ep t. Aug. Aug. S ep t. Sept. O ct. S ep t. S ep t. S ep t. O ct. O ct. S ep t. Aug. Aug. S ep t. Aug. 1 to H olders of rec. H olders o f rec. A ug. 1 to H olders o f rec. J u ly 25 to J u ly 25 to H olders o f rce. H olders of rec. O ct. 9 to H olders of rec. H olders of rec. H olders of rec. H olders of rec. H olders of rec. A u g. 15 to Aug. 22 to H olders of rec. H olders of rec. A ug. 15 A ug. 2 A ug. 16 Aug. 14 Aug. 15 Aug. 15 Aug 15 A ug. 30 Aug. 30 O ct. 18 Aug. 10a Aug. 15 Aug. 15 O ct. 1 S ep t. 10 Aug. 31 A ug. 31 Ju ly 21 Aug. 20 Aug. Copper, N ation al (q u a r .)................. . . . 16 Aug. 11 to A ug. 15 T ru st C om panies. Citizens (Brooklyn) .............................................. S e p t. 1 H olders o f rec A u g. 18 Aug. S ep t. O ct. S ept. S ep t. Aug. H olders of rec. Ju ly 22 Aug. 21 to S ep t. 1 H olders of rec. A ug. 31 Ju ly 21 to A ug. 1 S ep t. 22 to S e p t. 30 Aug. 8 to A ug. 16 Aug. 18 to Aug. 24 to Sept." Aug. 24 to S ept. H olders of rec. A ug. H olders of rec. S ept. H olders of rec AUg. H olders of rec. A ug. H olders of rec. Aug. S e p t. 5 to S ept. H olders of rec. S ept. H olders of rec. Oct. H olders of rec. Aug. H olders of rec. Ju ly 3 H olders of rec. Aug. H olders of rec. Aug. H olders o f rec. AUg. H olders of rec. July H olders of rec. Aug. Aug. A u g. 11 to A u g. 21 to A ug. H olders of rec. Aug. H olders o f rec. A ug. H olders of rec. AUg. Aug. 11 to S ept. A u g. 24 to S ep t. H olders of rec A ug. H olders of rec. AUg. A u g. 19 to Sept. O ct. 19 to N ov. H olders of rec. J uly H olders o f rec. A u g .i S e p t. 11 to Sept. Aug. 21 to Aug. S ep t. 12 to S ept. A ug. 8 to A ug. H olders of reo. July H olders of rec. A ug. A u g. 12 to Aug. A u g. 12 to Aug. A u g. 8 to Aug. A ug. 5 to A u g. ; H olders o f rec. J u ly 3 H olders of rec. J uly ; H olders of rec. Oct. H olders of rec. Oct. H olders of rec. AUg. H olders of reo. July ; H olders of rec. Aug H olders o f rec. Aug. H olders of rec. A u g.21 A u g. 3 to A u g. : H olders o f rec. S e p t. 10 to Aug 6 to A ug. 6 to H oldors o f rec. All M iscellaneous. A m er. Sugar R fg., com. and pref. (quar.). A m erican T ob acco, com m on (q u a r .)-----C om m on (e x tr a ).......... ............................ B on d & M tge. G uarantee (q u a r .)............. Bordens Condensed M ilk, pref. (guar.) -----B u tte E lec. & P o w ., c o m .(q u a r .)(N o .2 0 ) Preferred (quar.) (N o . 3 3 ) .......... .............. B u tterlck C om pany (q u a r .)..... .............. Cam bria S t e e l................................................ C onsolidated G as, N . Y . (q u a r .).......... D iam ond M atch (q u a r .).......................... E a stm an K od ak , com m on (q u a r .)— C om m on ( e x t r a ) .. .................................. Preferred ( q u a r .) .................................... F a y ( J . A .) A Egan, pref. (quar.) -----General Asphalt, pref. (quar.) (N o. 9 ) ____ G eneral C hem ical, com m on (q u a r .)-------G orham M anufacturing, com m on ( q u .) . . I n te m a t. H arvester, pref. (q u .) (N o . 10) International N ickel, com m on (N o . 1 )___ Internal. Sm ell. A Refg. (quar.) (No. 1 )_ . Jefferson & Clearfield Coal & Iron, p r e f.. K ings C ou nty E l. L t. & P . (q u .) (N o . 38) M ichigan S ta te T elephone, co m . (quar.) Preferred (q u a r .).................................... M ontreal L ig h t, H ea t & Pow er ( q u a r .) .. N atlonal Biscuit, pref. (quar.) (N o. 4 6 ) .. N at. Enam el A Stpg., pref. (q u a r .)... N atlonal L ead. pref. (quar.) (N o . 7 1 ) - N lles-B eraen t-P on d , com m on (q u a r .)-----Preferred (q u a r .)............ ....................... Peoples Gas L ight & Coke ( q u a r .) ___ Philadelphia Electric ( q u a r .) ... .......... .. Pittsburgh Brewing, com. (quar.) _____ Preferred (quar.) ..... ....................... ......... P r a tt & W h itn ey C o., pref. ( q u a r .) .. . P ressed Steel Car, pref. (quar.) (N o . 42) P rocter & G am ble, com m on <quar.)____ Pullm an C om pany (quar.) (N o . 1 7 0 )____ Quaker Oats, com. (quar.) ............................... Common (extra) ................................................ Preferred (quar.) ........................................... .. R epublic Iron & S te el, preferred............... Sears, R oebu ck & C o., com m on ( q u a r .) .. Sllversm lths C om pany, com m on (quar.) Sloss-Shet/leld Steel A Iron, com. (guar.). U n ited B an k N ote C orp., co m . (quar.) United Cigar M frs., pref. (guar.) ................. U . S . Steel C orp., com . (quar.) (N o . 23) Preferred (q u ar.) (N o . 3 3 ) ----------------V lrginia-C arolina.C hem ical, co m m o n -----W elsbach C om pany............................................ K 3 10 IK IX Id Sept. IK s e p t I X S ept. 1 S ept. I X O ct. 2K 7K 3 IK IK 1 2 2K 5 IK IX IX 1 k IK 2K IK IK IX IX l Xe IX IK IK IX IK IX IX S ep t. S ept. Aug. S ept. O ct. N ov. S ept. A ug. S ep t. S ep t. O ct. S ep t. O ct. Aug. S ep t. S ep t. Aug. S ept. S ep t. S ep t. Aug. S ep t. S ept. N ov. Aug. Aug. S ep t S ep t. S ep t. A ug. Aug. S e p t. Aug. Aug. IK AUg. IX 3 2 IK K IK 1Xb 1 IK 1 IX X IX 3 $2 Aug. Aug. A ug. O ct. O ct. Aug. O ct. Aug. Aug. S ep t. A ug. S e p t. S e p t. A ug. Aug. S e p t. a Transfer books n ot closed, b D eclared 0 X % , b eing accum u lated dividend s In *ull, payable X% O ct. 1 1909 and 1% each O ct. 1 from 1910 to 1915, Inclusive. d D eclared 4% , payable 1% each S e p t. 1 and D e c . 1 1909 and M ch. 1 and June 1 19 1 0 . e Declared 7 %, paya b le In quarterly Installm ents. W e omit two ciphers (00) in all cases. Banks. Capital. Surplus. 00 j omitted. S B an k of N . Y . . 2 ,0 0 0 ,0 M anhattan Co . 2 ,0 5 0 ,0 M erch a n ts'-----2 ,0 0 0 ,0 3 ,0 0 0 ,0 M echanics’ -----A m e r ic a ............. 1 ,500,0 P h e n l x ----------1 ,000,0 2 5,0 0 0 ,0 C ity ............... .. C h em ical______ 3 ,0 0 0 .0 M erchants’ E x . 600,0 G a lla tin ............... 1,0 0 0 ,0 B u tc h . & D r o v . 3 0 0 ,0 G r e e n w ic h ____ 5 0 0,0 A m er. E x c h ___ 5 ,0 0 0 ,0 C om m erce.......... 2 5,0 0 0 ,0 M e r c a n tile -----3 ,0 0 0 ,0 Pacific ............ .. 500,0 C h a th a m ______ 4 5 0,0 P e o p le ’s ______ 2 0 0,0 H a n o v e r .......... .. 3 ,0 0 0 ,0 C itizens' Central 2 ,5 5 0 ,0 N a s s a u _______ 500,0 M arket & F u lt’n 1 ,000,0 M etropolitan . . 2 ,0 0 0 ,0 Corn E xchange 3 ,0 0 0 ,0 Im p . & T raders’ 1 ,500,0 Park ................... 3 ,0 0 0 ,0 E a st R iv e r -----2 5 0,0 F o u r t h ............... 3 ,0 0 0 ,0 Second _______ 1 ,000,0 F i r s t __________ 1 0 ,000,0 Irv in g E x c h . . . 2 ,0 0 0 ,0 B ow ery ............. 2 5 0 ,0 N . Y . C o u n ty .. 5 0 0,0 G erm an-Am er . 7 5 0,0 C hase.................... 5 ,0 0 0 ,0 F ifth A v e n u e .. 100,0 G erm an E x c h .. 200,0 G er m a n ia ........... 200,0 Lincoln _______ 1 ,000,0 G arfield............... 1,000,0 F i f t h .................... 2 50,0 M e tr o p o lis -----1 ,000,0 W est S id e .......... 200,0 S ea b o a rd ............ 1,000,0 L ib erty ----------1 ,000,0 N . Y . Prod. E x . 1,000,0 S t a t e ................. 1,000,0 14th S tr ee t-----1 ,000,0 Copper ............... 2 ,0 0 0 ,0 Coal & Iro n -----1,000,0 $ 3 ,4 5 2 ,5 3 ,5 6 7 ,7 1,692,7 3 ,7 0 1 ,3 5,1 7 8 ,4 680,3 2 7,811,3 5,9 5 8 ,3 554,5 2 ,4 1 9 ,0 157,6 755,1 5 ,051,3 15,722,1 2 ,495,7 8 64,8 1,024,4 470,5 1 0,747,5 1 ,484,5 435,8 1,674,0 1,309,7 5,3 7 2 ,3 7 ,5 5 4 ,5 9 ,7 9 2 ,8 104,3 3 ,3 9 9 ,6 1,868,6 18,968,1 1,450,4 789,7 1,631,2 656,2 6,655,1 2 ,1 7 8 ,6 8 5 7,6 1 ,020,9 1,312,4 1,160,8 475,4 2 ,0 2 0 ,2 1,087,3 1,782,1 2,6 1 0 ,4 687,2 810,3 320,1 2 ,6 7 5 ,0 3 0 3 ,9 Loans. Average. $ 2 0 ,7 5 5 ,0 3 8 ,6 5 0 ,0 2 3 ,1 5 3 ,0 3 1 ,8 2 4 ,0 3 0 ,0 1 1 ,3 7 ,5 0 6 ,0 2 0 0 ,6 4 4 ,4 2 9 ,1 4 0 ,3 6 ,8 7 2 ,7 9 ,3 3 6 ,7 2 ,2 6 0 ,3 7 ,2 9 7 ,3 3 0 ,6 1 0 ,5 17 7 ,8 6 0 ,0 1 5 ,1 4 2 ,4 4 ,0 5 6 ,4 7 ,4 4 7 ,8 2 ,0 6 9 ,7 7 0 ,5 2 1 ,2 2 3 ,9 0 2 ,8 5 ,8 1 7 ,2 7,8 8 7 ,1 11 ,2 0 4 ,8 4 4 ,9 2 3 ,0 2 7 ,1 7 1 ,0 9 2 ,5 7 0 ,0 1,4 0 9 ,7 2 6 ,6 3 7 ,0 11,8 3 7 ,0 115,1 7 3 ,2 2 0 ,0 3 9 ,8 3 ,3 4 8 ,0 8 ,1 0 9 ,6 3,9 3 4 ,1 8 3 ,8 3 3 ,4 1 2,987,9 3 ,6 5 0 ,7 4 ,9 0 1 ,9 1 5 ,6 9 1 ,0 7 ,7 1 1 ,5 3 ,1 2 9 ,4 1 0 ,8 0 1 .5 4 ,4 1 2 ,0 1 9 ,4 0 9 ,0 17 ,3 6 8 ,4 8 ,1 8 6 ,4 1 2 ,5 4 6 ,0 5 ,3 5 9 ,8 2 7 ,0 9 2 ,6 5 ,3 2 3 ,0 Specie. Legals. Deposits. Re Average. Average. Average. s've. $ $ 3 ,8 9 0 ,0 1 ,2 9 6 ,0 10 ,3 0 2 ,0 1,5 5 2 ,0 4 ,5 0 0 ,0 1,9 7 9 ,0 1 1 ,2 4 8 ,0 1,2 8 4 ,0 6 ,2 6 1 ,5 2 ,2 5 5 ,4 1,2 2 8 ,0 493,0 63 ,6 4 8 ,5 8 ,2 9 1 ,0 5 ,4 3 5 ,3 2,0 2 4 ,4 573,5 1,291,7 7 7 1,2 1 ,099,9 127,5 4 26,5 2 0 0 ,0 1,8 5 0 ,7 4 ,2 1 7 ,6 1,7 1 8 ,7 2 9 ,6 3 9 ,6 11,762,1 961,7 2 ,043,1 492,3 309,3 9 60,6 1,052,7 132,4 487,3 1 3,571,9 7 ,5 2 6 ,5 3 1 7 ,6 5,4 5 0 ,7 983,4 640,7 1,1 3 6 ,6 1,2 7 6 ,9 163,7 2 ,7 1 2 ,9 7 ,6 8 1 ,0 5 ,7 8 6 ,0 4 ,5 6 9 ,0 1 ,690,0 2 5 ,3 8 2 ,0 1 ,8 5 7 ,0 176,9 152,6 5 ,3 2 0 ,0 2 ,3 0 0 ,0 144,0 2 ,9 0 3 ,0 2 5 ,3 9 5 ,6 1 ,602,4 4 ,0 4 9 ,4 1,602,1 63,0 7 5 9 ,0 1 ,281,1 6 4 0 ,0 8 88,6 2 1 1,5 1 8,875,2 5 ,2 4 0 .9 3 ,015,1 1,0 9 1 ,5 3 7 5 ,8 460,2 815,7 5 00,0 3 ,2 3 5 ,1 1,075,1 1,8 1 6 ,5 173,1 322,1 550,7 9 6 9 ,0 1 ,715,3 2 4 2,0 9 84,0 4 ,4 7 1 ,0 1,9 1 6 ,0 3 ,3 4 5 ,2 1,1 2 0 ,7 385,1 2 ,3 6 0 ,3 2 6 5 ,0 3 ,7 1 4 ,0 452,2 1 ,010,7 4 3 6 ,0 6 ,611,7 7 2 4,0 1,1 9 7 ,0 S % 1 9 ,3 4 9 ,0 26.8 4 6 ,3 6 0 ,0 25.5 2 5 ,5S8,0 25.1 3 7 ,8 1 5 ,0 33.1 3 2 ,8 8 5 ,5 25.9 6 ,7 6 5 ,0 26.0 2 2 0 ,3 2 5 ,2 32.7 2 8 ,364,1 26.4 7 ,2 3 0 ,8 25.7 7 ,2 5 2 ,2 25.7 2 ,1 5 3 ,5 25.7 8,2 2 5 ,3 24,9 23,739,1 25.1 164,577,1 25.2 11,984,7 25.0 3 ,634,1 22.0 7 ,9 7 2 ,5 25.2 2,544,1 24.3 8 3 ,0 7 8 ,8 25.4 2 3 ,791,1 24.3 6,439,7 25.2 8,1 6 0 ,3 29.5 1 1,195,9 25.6 5 3 ,1 9 3 ,0 25.3 2 5 ,1 8 8 ,0 24.4 1 06,571,0 25.5 1,508,3 21.8 2 8 ,6 7 1 ,0 26.2 1 2 ,2 6 0 ,0 24.8 103 ,3 6 1 ,5 24.9 2 1 .2 4 6 ,1 2 6 .6 3 ,4 0 0 ,0 24.1 8 ,1 8 2 ,9 23.9 3 ,9 5 9 ,7 27.7 9 3 ,9 9 4 ,9 25.6 15,003,1 27.3 3 ,6 3 0 ,2 23.0 5 ,540,1 23.7 16 ,9 7 9 ,9 25.3 7 ,8 0 2 ,2 25.5 3 ,3 6 2 ,3 25.9 10 ,5 6 7 ,8 25.3 4 ,8 9 6 ,0 25.0 2 3 ,3 0 0 ,0 27.4 17,389,4 25 .6 10 ,0 3 7 ,6 27.3 15,498,0, 25.6 5 ,8 2 7 ,6 25.7 2 8 ,4 5 7 ,6[24.7 5 ,9 9 2 ,0 |(32.1 T o t a l s ______ 1 27,350,0 174,7 5 4 ,0 13 6 1 ,5 2 7 ,8 3 0 4 ,1 0 5 ,0 7 9 ,4 0 3 ,4 1 4 3 0,251,2 '26.8 B an ks. A m algam ated Copper (q u a r .)............... Am erican Coal ________________________ Am erican Express (q u a r .)-- .................... A m er. L t. & T raction , com . (stk d l v j . . A m erican R ad iator, com m on (q u a r .)-----Preferred (q u a r .).................................. A m erican S hipbuilding, com m on (quar,) A m er. Sm elters S ecu rities, pref. A . (quar.) Preferred II, (quar.) (N o. 1 7 ) . . ............. A m erican S to g ie , preferred...................... 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 ending Aug. 7. The figures for the separate banks are the averages of the daily results. In the case of the totals, the actual figures at the end of the week are also given. A ctual figures A u g. 7 . . 3 0 2 ,1 5 5 ,3 7 9 ,7 2 6 ,0 142 8 ,3 3 8 ,2 J26.7 .................. 1 3 6 1 ,7 3 8 ,9 On the basis of averages, circulation am o u n ted to $ 4 9 ,7 6 7 ,1 0 0 and U n ited S tates d ep o sits (Included In deposits) to $1,6 1 3 ,0 0 0 ; actu al figures A u g. 7 , circulation, $ 4 9 ,991,800; U n ited S ta tes d ep o sits, S I ,6 1 4 ,5 0 0 . The State Banking Department also now furnishes weekly returns of the State banks and trust companies under its charge. These returns cover all the institutions of this class in the whole State, but the figures are compiled so as to distinguish between the results for New York City (Greater New York) and those for the rest of the State, as per the following: ST A T E B A N K S A N D T R U S T C O M PA N IE S. Week ended A u g . 7. Capital a s o f April 2 8 ____ Surplus as of April 2 8 ____ Loans and In v e stm e n ts.. Change from la st w eek . T rust Cos. State Banks Trust Cos. State Banks In outside of outside of In Greater N . Y . Greater N . Y . Greater N . Y . Greater N . Y . S 2 5 ,9 7 5 ,0 0 0 $ 5 9 ,6 7 5 ,0 0 0 3 7 ,3 0 6 ,0 0 0 S 8,5 9 8 ,0 0 0 $ 7 ,7 2 5 ,0 0 0 173 ,9 2 1 ,5 0 0 10,316,230 9 ,7 8 6 ,6 7 6 3 0 5 ,0 5 1 ,1 0 0 1,1 1 1 ,5 0 0 ,7 0 0 + 1 ,7 8 2 ,2 0 0 + 7 0 0 ,2 0 0 8 4 ,0 9 1 ,6 0 0 + 6 0,800 129,949,100 + 427,200 ............ S pecie ______ Change from la st w eek. 5 1,3 4 9 ,0 0 0 — 77 8 ,8 0 0 124 ,0 5 5 ,9 0 0 + 2 ,2 2 9 ,1 0 0 ...................... ....................- L egal-tenders A b k . notes Change from la st w e e k . 2 5 ,6 5 6 ,2 0 0 — 028,500 13 ,8 3 1 ,6 0 0 — 147,300 ............ ...................... D ep o sits ............................. .. Change from la st w e e k . 3 5 7 ,9 5 4 ,7 0 0 1,2 9 8 .8 8 5 ,9 0 0 + 6,9 0 1 ,7 0 0 — 7 19,800 0 0 ,1 9 4 ,6 0 0 + 6 35,900 141,197,700 + 1 ,386,700 R eserve on d e p o sits_____ Change from la st w e e k . 14 6 ,9 5 1 ,6 0 0 + 2 ,9 2 0 ,8 0 0 1 9 ,6 29,300 + 3 7 9 ,5 0 0 21 ,8 55,600 + 945,700 17.0% 17.0% 22.4% 22.2% 16.1% 15.7% p . C. reserve to d e p o s its .. Percentage la st w e e k .. 1 0 0 ,040,900 — 2 ,9 9 6 ,3 0 0 28.4% 29.1% + Increase over last week. — Decrease from last week. Note. — “Surplus” Includes all und ivided profits. “R eserve on d ep o sits” In' elu d es, for bo th trsu t com panies ann S ta te bank s, n o t o n ly c sli Item s, b u t am ounts due from reserve a g en ts. T rust com p anies In N ew Y ork S ta te are required by la w to keep a reserve proportionate to their dep o sits, the ratio varying accordlnn to lo ca tio n as show n below . T he percen tage of reserve required Is com puted on th e aggregate of d ep o sits, ex clu siv e of m o n ey s held In tru st and not payable w ithin th ir ty d a y s, and also e x clu siv e of tim e d ep o sits n o t p ayable w ithin 30 d a y s, repre sen ted b y certificates, and also ex clu siv e o f d ep o sits secured by bonds of the S ta te o f N ew Y ork. T he S ta te banks arc llkew ls erequlred to keep a reserve v aryin g accord ing to location, b u t In this case th e reserve Is com p uted on the w hole am ount o f d ep o sits, ex clu siv e of deposits secured b y bonds of th e S ta te o f Now Y ork. Reserve Required for Trust Companies and State Banks. — Trust Cos.— — state B a n k s Total Of Total Of Reserve which Reserve which Required. Required. InCas) In Cash.Required. In Cash- Location — M anhattan B o ro u g h ...........................................................15% B rooklyn B orough (w lthout branches In M a n h a t.).1 5 % O ther B oroughs (w ith o u t branches In M a n h a tta n ).15% A n y Borough w ith branches In M a n h a t ta n .............16% E lsew here In S ta te ............................. , ...............................10% 10% 10% 10% 15% 6% 25% 20 % 15% 25% 15% 15% 10% 7K % 15% 6% The Banking Department also undertakes to present separate figures indicating the totals for the State banks and trust companies in the Greater New York n o t i n th e C le a r in g House.— T h e se figu res a re s h o w n in t h e t a b le b e lo w , a s are a lso th e r e s u lts (b o th a c tu a l a n d a v e r a g e ) fo r th e C learin g H o u se b a n k s . In a d d itio n , w e h a v e c o m b in e d e a c h corre s p o n d in g ite m in th e tw o s t a t e m e n t s , th u s a ffo rd in g a n a g g r e g a t e fo r th e w h o le o f th e b a n k s a n d tr u s t c o m p a n ie s in th e G rea ter N e w Y o r k . N E W Y O R K C IT Y B A N K S A N D T R U S T C O M PA N IE S. Week ended. A ug. Clear .-House Hanks. ActualFlgurcs 7. Clear.-House Stale Hanks A Total of all Hanks. T rm l Cos. not B anksA Trust Average. in C .-H . Aver. Cos. Average. $ $ Capital fN at. B an ks 1 ( June 23. 127 .3 5 0 .0 0 0 127.3 5 0 .0 0 0 Surplus IState Banks l April 2 8 . . j 174.7 5 4 .0 0 0 1 7 4.754.000 Loans and Investm ents 1,361 ,7 3 8 ,9 0 0 1 ,3 6 1 ,5 2 7 ,8 0 0 Change from hist week + 3 ,6 8 8 ,3 0 0 + 10,860,600 D ep osits ........................... 1,428,338,200 Change from la st w eek — 5 ,2 9 5 ,7 0 0 6 9 ,7 0 0 ,0 0 0 197,050,000 1 8 2,845.100 3 5 7 ,5 9 9 ,1 0 0 1,2 0 2 ,3 8 8 ,4 0 0 2 .5 6 3 .9 1 6 .2 0 0 + 2 ,0 2 7 ,2 0 0 + 1 2 ,893,800 1,4.30,251,200 a l , 185,934,000 2 .6 1 6 .1 8 5 .2 0 0 + 8 ,6 5 2 ,7 0 0 + 3 ,3 7 7 ,6 0 0 12,030,300 Specie _______ ________ Change from last week 302 .1 5 5 .3 0 0 — 7 ,8 9 8 ,8 0 0 3 0 4 .1 0 5 .0 0 0 — 4 ,8 9 8 ,9 0 0 130,2 4 0 ,5 0 0 + 2 ,2 0 1 ,6 0 0 L e g a l-te n d e r s________ C hange from la st week 79 .7 2 6 .0 0 0 + 49,800 7 9 ,4 0 3 ,4 0 0 — 2 ,5 7 0 ,5 0 0 62 2 ,5 0 3 ,6 0 0 — 4 27,100 A ggr’te m oney holdings Change from last week M oney on d eposit with oth er bks. & tru st cos. Change from last week 3 8 1 .8 8 1 .3 0 0 — 7 ,8 4 9 ,0 0 0 3 8 3 ,5 0 8 ,4 0 0 — 7 ,4 6 9 ,4 0 0 c l5 2 ,7 4 4 ,1 0 0 + 1 ,7 7 4 ,5 0 0 T otal reserve_______ Change from la st week P ercen tage to deposits requiring r e s e r v e ____ P ercen tage last w e e k .. 381 ,8 8 1 ,3 0 0 — 7 ,8 4 9 ,0 0 0 3 8 3 ,5 0 8 ,4 0 0 — 7 ,4 6 9 ,4 0 0 181,3 1 4 ,9 0 0 + 2 ,3 3 7 ,7 0 0 26.75% 27.21% 26.83% 27.43% 18.6% 18.7% Surplus reserve............... 2 4 ,7 9 6 ,7 5 0 We omU two ciphers (00) in all these figures B anks. B o sto n . J u ly 1 7 . . J u ly 24 J u ly 3 1 . . A u g. 7 . . Phlla. J u ly 1 7 . . J u ly 24 J u ly 3 1 . . A u g. 7 . . Capital and Surplus. Loans. S 4 0 .3 0 0 .0 4 0 .3 0 0 .0 4 0 .3 0 0 .0 4 0 .3 0 0 .0 $ 2 1 2 .9 6 7 .0 2 1 2 .4 1 6 .0 2 1 4 .6 7 5 .0 2 1 7 .2 4 9 .0 5 6 .3 1 5 .0 5 6 .3 1 5 .0 5 6 .3 1 5 .0 5 6 .3 1 5 .0 2 7 1 .8 9 0 .0 2 7 1 .9 8 9 .0 27 3 .7 9 1 .0 2 7 3 .7 8 9 .0 Legals. Deposits, a Circu lation. S 2 4 .6 6 6 .0 2 5 .6 6 0 .0 2 5 .0 9 7 .0 2 3 .6 5 2 .0 $ 4 .6 8 7 .0 4 .6 4 4 .0 4 .7 9 2 .0 4 .8 6 4 .0 $ 2 7 3 .3 7 7 .0 2 6 9 .4 7 1 .0 2 6 5 .9 1 3 .0 2 7 2 .0 9 2 .0 $ 7 .5 7 1 .0 7 .5 4 8 .0 7 .5 4 2 .0 7 .5 6 6 .0 $ 1 7 2 ,5 3 2 ,8 144.948.1 1 3 7 .0 3 5 .0 1 7 1 ,9 0 2 ,3 3 2 8 .5 0 2 .0 3 2 7 .7 0 5 .0 3 2 4 .1 1 6 .0 3 2 4 .7 7 4 .0 16.070.0 1 6 .285.0 1 6 .522.0 16 .4 7 1 .0 1 2 9 .2 6 3 .0 120.501.1 1 1 0 .3 2 9 .2 1 3 3 ,780,7 '*',c w omer Danns.” At Boston 8i,o; 3 .0 81,29 0 .0 79,24 5 .0 79,80 1.0 __ "7” -------- ; ......— u ly lv 3t1i . JJ u *■“ Clearings. d ep o s,ts a m «unted to $ 2 ,0 1 8 ,0 0 0 on A u g. 7 , a g a in st $ 2 ,0 4 7 ,0 0 0 on Imports and Exports for the Week.— T h e fo llo w in g a r e th e im p o r ts a t N e w Y o r k for th e w e e k e n d in g A u g . 7; a l s o t o t a ls sin c e th e b e g in n in g o f th e first w e e k in J a n u a r y : ) For the Week. 1909. 1908. 1907. 1906. $ 3 ,1 6 8 ,3 0 2 1 2 ,2 9 3 ,6 5 0 $ 2 ,5 4 5 ,1 4 6 9 ,6 1 1 ,3 1 1 $ 4 ,1 9 1 ,9 7 3 11,7 8 1 ,0 1 5 $ 3 ,1 9 0 ,2 4 0 8 ,9 8 6 ,3 3 5 $ 1 5 ,4 6 1 ,9 5 2 $1 2 ,1 5 6 ,4 5 7 $ 1 5 ,9 7 2 ,9 8 8 $ 1 2 ,1 7 6 ,5 7 5 $7 0 ,1 4 4 ,5 8 9 $11 3 ,8 2 2 ,3 3 3 2 9 5 ,2 5 0 ,3 2 2 4 2 6 ,3 9 7 ,2 8 8 $ 9 5 ,5 0 8 ,3 0 6 3 5 5 ,9 4 2 ,9 7 9 — D r y G o o d s ... G eneral M erchandise T o t a l ____ Since Ja n u a ry 1. D ry G oods.......... General M erch a n d ise.. 2 8 ,5 7 0 ,8 0 0 + 563,200 + Increase over la st w eek. Specie T otal 31 W e e k s .. $10 2 ,8 5 0 ,2 9 6 4 1 1 ,2 8 6 .4 9 0 $51 4 ,1 3 6 ,7 8 6 $ 3 6 5 ,3 9 4 ,9 1 1 |$ 5 4 0 ,2 1 9 ,621 $ 4 5 1 ,4 5 1 ,2 8 5 T h e fo llo w in g is a s ta t e m e n t o f th e e x p o r t s (e x c lu s iv e o f sp e c ie ) from th e p o r t o f N e w Y o rk to fo r e ig n p o r ts fo r t h e w e e k e n d in g A u g . 7 a n d fro m J a n . 1 to d a te : 2 5 ,9 4 5 ,6 0 0 — D ecrease from la st w eek. E X P O R T S FROM N E W Y O R K F O R T H E W E E K . . ®, aftcr eI|m lnatlng the Item “D u e from reserve deposltorle and other banks and tru st com p anies In N ow Y ork C ity;” w ith th is Item Included M ^ T lS Si «r CiP ^ M 3'81W a' l lnCrCaS° ° f W .7 8 8 9(W o v e M a stClweek learing-H ouse banks, the d eposits are “n et" both for the average oUh S?4 i rnnUa nflig *resV 6 InclU(lM bank n o tes, c Of this a m o u n t S ta te banks licit 514,8 5 6 ,6 0 0 and tru st com p anies $ 1 3 7 ,8 8 7 ,5 0 0 . . T h e a v e r a g e s o f th e N e w Y o rk C le a r in g -H o u se b an k s th o s e for th e S t a t e b a n k s a n d tr u s t c o m p a n ie s in G rea ter N e w Y o rk o u ts id e o f th e C learin g H o u se c o m p a r e a s fo llo w s fo r a series o f w e e k s p a st: combined w ith CO M BIN E D R E S U L T S O F B A N K S A N D T R U S T CO M PA N IE S IN GREATER NEW YO RK . 1909. For th e W eek ____ P r ev io u sly reported T o ta l 31 W eek s____ I $ 1 1 ,8 3 4 ,3 7 0 36 0 ,4 7 8 ,4 8 5 1908. 1907. 1906. $ 7 ,7 2 8 ,0 3 6 3 8 0 ,5 9 9 ,8 2 6 $ 1 3 ,3 6 9 ,1 3 5 3 6 6 .9 2 2 ,7 0 6 $1 2 ,6 0 4,101 3 45,124,494. $ 3 7 2 ,3 1 2 ,8 5 5 $38 8 ,3 2 7 ,8 6 2 $ 3 8 0 ,291,841 $ 3 5 7 ,7 2 8 ,5 9 5 T h e fo llo w in g ta b le sh o w s th e e x p o r ts a n d im p o r ts o f s p e c ie a t th e P o r t o f N e w Y ork fo r th e w e e k e n d in g A u g . 7 a n d sin c e J a n . 1 190 9 , a n d for th e c o r r e s p o n d in g p e r io d s in 1908 a n d 1907: E X P O R T S A N D IM PO R T S O F S P E C IE A T N E W Y O R K . We omit two ciphers (00) in all these figures. Week Ended. June June J u ly Ju ly Ju ly Ju ly Ju ly A u g. Loans and Investments. Deposits. $ 2.518.640.1 2 ,492,260,6 2 .517.226.9 2 .528.727.9 2 .523,184,8 2.535.951.3 2.551.022.4 2 .563.916.2 $ 2.56 1 .8 0 5 .8 2.538 .9 9 9 .1 2 ,5 6 9 ,5 3 4 ,6 2.585 .8 6 8 .5 2.581 .8 6 6 .5 2 ,594 ,1 1 3 ,3 2 .6 0 4 .1 5 4 .9 2 .6 1 6 .1 8 5 .2 1 9 .. 2 6 .. 3 .. 1 0 .. 1 7 .. 2 4 .. 3 1 .. 7 -- Specie. S 4 2 9,725,7 4 3 6 .1 0 3 .6 43 8 .6 6 0 .7 43 9 .3 2 1 .7 4 3 7 ,9 7 0 ,9 437 ,3 1 1 ,3 4 3 7 .0 4 2 .8 4 3 4 ,3 4 5 .5 Legals. $ 10 1 .7 8 6 .9 1 0 2,260,0 101.881.9 1 0 1.716.9 104,503,7 104,681,2 104,904,6 1 0 1,907,0 $ 531 .5 1 2 .6 5 3 8 .3 6 3 .6 5 4 0 .5 4 2 .6 5 4 1 .0 3 8 .6 5 4 2 .4 7 4 .6 5 4 1 ,9 9 2 ,5 5 4 1 .9 4 7 .4 5 3 6 .2 5 2 .5 $ 6 6 0 .9 5 2 .3 5 6 7 .7 3 7 .3 5 7 0 .4 7 5 .4 5 7 2 ,7 7 2 ,6 5 7 2 .7 3 9 .3 5 7 0 .7 1 0 .3 5 6 9 ,9 5 5 ,0 5 6 4 .8 2 3 .3 Reports of Non-Member Banks.— T h e fo llo w in g is th e s t a t e m e n t o f c o n d itio n o f th e n o n -m e m b e r b a n k s for th e w e ek e n d in g A u g . 7 , b a sed on a v e r a g e d a i l y r e s u lts . W e omit two ciphers (00) in all these figures. fcffll I Banks. Capi tal. Sur plus. Loans, Dlsc’ts and Invest ments. Specie. Legal Tender and B ank Notes. Deposit with — Clear ing, Agent. Other N et Banks, Deposits. A c. N. Y. C ity . Boroughs of M a n .A Hrx. $ W ash. I lg ts 100,0 Century __ 200,0 C o lo n ia l___ 400,0 Colum bia . 300,0 F id e lity . . . 200,0 Jefferson__ 500,0 M t. M orris. 250,0 M u tu a l____ 2 00,0 Plaza .......... 100,0 200,0 23d W a r d .. U n .E x .N a t. 1,000,0 Y orkvllle . . 100,0 200,0 N ew N c th ’d 200,0 B att.P k .N a t 300,0 A etna N a t. Borough of Brooklyn. 200,0 B roadw ay . 252,0 M frs.’ N a t . M echanics’ 1,000,0 750,0 N assau N at. N a t. C i t y .. 300,0 N orth S id e . 200,0 J e rs e y C ity . F irst N a t . . 400,0 250,0 H u d .C o.N at Third N a t . . 200,0 B H oboken. F irst N a t . . 220,0 Second N a t. 125,0 $ 228,2 149,6 249,4 439.7 182,7 684,2 284,2 318,7 402,2 93,8 960,4 439,9 241,5 142,0 314,2 $ 1,209,0 1,588,3 4 ,7 5 7 ,9 5 ,9 5 4 ,0 928,0 3 ,3 1 8 ,0 2 ,5 5 5 ,0 3 ,9 2 4 ,3 3 ,7 8 1 ,0 1,796,9 8 ,2 6 3 ,6 3 ,9 3 3 ,8 1.957,0 1,164,3 1,823,5 524,3 3 ,0 9 0 ,3 787,0 6 ,2 0 2 ,2 933,9 11.148,5 954,5 6 ,6 5 5 ,0 598,5 4 ,0 4 0 ,0 141,8 1,652,7 $ $ 138,0 58 ,0 28,4 211,2 629,0 3 5 5 ,S 581,0 5 5 5,0 87,8 66,5 8.1 4 2 9,8 480,1 32 ,6 33,1 653,6 326,0 4 1 5,0 142,2 50,3 828,8 1,275,0 49,2 777,8 210,0 7 1 ,0 131,9 100,8 428,8 27,8 $ 3 0 9 ,0 88,2 458,1 2 8 4 ,0 92,3 177,5 442,4 49 7 ,5 851,0 219,3 122,0 3 9 0,8 2 5 9,0 96,2 80,4 $ 89,5 578,5 133,0 57,0 5,2 251,3 25 ,0 20,8 $ 1 ,3 2 4 ,0 1,923,4 6 ,2 1 8 ,6 6 ,8 1 3 ,0 942 4 3 r4 0 0 ,l 3 ,3 7 9 ,0 4 ,5 7 0 8 1,861 0 2 ,0 4 5 0 8,369,1 5 ,300 0 2 ,112 0 1 109 7 1,8 3 9 ,7 473,0 20,7 721,7 115,6 280,5 1,491,6 267,0 525,0 592,0 114,0 136,9 76,7 304,3 7 6 8 ,0 1,106,2 7 8 9,0 7 7 0,0 37 3 ,0 383,7 3 ,9 1 7 ,5 165,3 6 ,8 8 9 ,0 274,0 14 230,9 6,330*0 173,0 5 ,4 0 2 ,0 230,9 2,225,8 1,230,6 720,5 372,9 4 ,5 4 4 .6 2 ,9 6 0 .2 1,676,2 307,1 171,5 67,6 432,4 33 ,5 110,6 2 ,1 8 3 ,2 2 1 4,0 7 8 1 ,8 416,0 374,6 40,4 6 ,115,3 2 ,9 2 8 ,3 2 ,457.1 626,1 244,3 2 ,5 3 7 .8 2 ,3 4 1 ,7 114,4 79,2 9,8 79,7 133,8 87,7 58,2 318,8 1 ,990,0 2 ,8 2 2 ,2 T o t. A u g. 7 8,147,0 12,266,0 93,803,8 6,383,0 9,020,1 11,878,7 3,595,2 109524,9 T o t. Ju ly 31 9,147,0 12,569,9 99,583,7 7,437,6 9,660,4 15,138,7 3,981,4 118487,4 T o t. J u ly 24 9,147.0 12,569,9 99,929,8 7,510,9 10044,3 12,147,0 4,349,0 116660^6 Boston and Philadelphia Banks.— B e lo w is a su m m a r y of th e w e e k ly t o t a ls o f th e Clea r in g -I lo u s e b a n k s of B o s to n a n d P h ila d e lp h ia . Exports. Gold. Tot. Money Entire Res. Holdings. on Deposits Week. Imports. SlnceJan. 1 Great Britain__ $13,958,120 France.............. .................. ........... 13,881,232 Germany . . West Indies__ 2,030,615 Mexico.............................................. 5,000 South America__ IIIIIIIIIII $i,ooo‘666 40,945,440 All other countries.........I II II .I I II 4,030,195 Total 1909............... $1,000,000 $74,850,602 Total 1908............. ............. 6,825 47,133,400 Total 1907............ 807,500 Great Britain___ *935,283 France............ 51,300 2,685,550 Germany _____ 9,647 West Indies_____ 104,375 Mexico.................. South A m erica.__ 2,146 All other countries____ 28,029 Total 1 9 0 9 ................ $986,583 $28,394,941 Total 1908................. 969,341 26,096,011 Total 1907............... 1,537,541 27,822,642 Week. Since Jan. 1 $21,072 $194,123 2,157,876 8,228 482,782 358,269 1,507,760 1,439,207 10,615 449 16,995 63,541 $112,672 $6,128,245 406.809 12,178,395 58,892 6,814,631 $21,326 $199,476 45,987 84,917 830 3,810 8,288 30,657 680,579 652,371 49,674 $3,139,051 2,240,359 1,407,394 O f th e a b o v e im p o r ts for t h e w e e k in 1 9 0 9 , S 1 0 ,4 9 5 w e re A m erica n g o ld co in a n d $ 7 1 5 A m e ric a n s ilv e r c o in . O f th e e x p o r ts d u rin g th e s a m e tim e , $ 1 ,0 0 0 ,0 0 0 w e re A m e ri c a n g o ld co in a n d $ ------ w e re A m e ric a n silv e r c o in . ^m illing m id ^financial. We shall be pleased (o furnish lo institutions and Investors copies of our special circular describing 43 R A IL R O A D BONDS Listed upon the New York Stock Exchange Spencer Trask & Co. W IL L IA M AND PINE STS.. NEW YO R K Branch offices: C hicago, III., and A lbany, N. Y. M o f f a t & W h i t e BAN KERS Members New York Stock Exchange 5 NA SSA U ST R E E T , NEW YORK B a n k in g a n d E x c h a n g e o f e v e r y d e s c r ip tio n In c o n n e c tio n w it h TH E ROOKERY C H IC A G O _ _ __________ IMPORTS AND EXPORTS nternational Banking Corporation NO. 60 W A L L STREET. NEW YORK Capital & Surplus. J6.600.000 Special facilities for Traveler* Branches at Horae and A broad. In all parts of the W orld, , Wall Street, Friday Night, Aug. 13 1 9 0 9 . T h e M o n e y M a rk et a n d F in a n c ia l S it u a t io n .— T h e a d j o u r n m e n t o f C o n g ress la s t w e ek a n d th e g iv in g o u t of th e G o v e r n m e n t cro p rep o rt o n M o n d a y h a v e b e e n fo llo w e d b y a n u n u s u a lly s tr o n g u p w a rd m o v e m e n t in s e c u r ity v a lu e s . T h e m o v e m e n t w a s g r e a tly a u g m e n te d , a s s u c h m o v e m e n t s a lw a y s a r e , b y th e s p e c u la tiv e e le m e n t a t t h e S to c k E x c h a n g e , b u t it is n o d o u b t tr u e t h a t se c u r itie s h a v e r e c e n tly b e e n fr e e ly a b so rb ed b y in v e s to r s a n d b y th e o u ts id e p u b lic . T h e r e se e m s n o ro o m for d o u b t t h a t th e n e x t 12 m o n th s w illlb e a p e r io d o f u n u su a l a c t iv i t y a n d p r o s p e r ity , a n d th ere fo r e a le v e l o f p r ice s s o m e w h a t h ig h e r th a n t h a t r e c e n t ly pre v a ilin g m a y b e in o rd er, b u t t h a t th e p r e s e n t m o v e m e n t m a y b e carried to o fa r, a s so m a n y sim ila r o n e s h a v e b efo re it , is s u g g e s te d b y th e a d v a n c e a lr e a d y m a d e . I t is rep o rte d t h a t la r g e o rd ers fo r r a ilw a y e q u ip m e n t, in c lu d in g lo c o m o t iv e s , h a v e b e e n p la c e d th is w e e k , a n d a n o th e r s u b s ta n tia l e v id e n c e o f in c r e a sin g in d u str ia l a c t iv it y is fo u n d in th e e x p a n d in g h o m e c o n s u m p tio n o f c o p p e r . T h e m o n e y m a r k e t c o n tin u e s to sh o w a h a r d e n in g te n d e n c y b u t th e d e m a n d is n o t u r g e n t, a n d r a te s w h ile so m e w h a t h ig h er , are m u c h b e lo w th e a v e r a g e fo r th e s e a s o n . T h e fin a n c ia l s it u a t io n a b r o a d is r efle c te d in th e B a n k o f E n g la n d s w e e k ly s t a t e m e n t , w h ic h sh o w s th e la r g e s t p e r c e n ta g e of r eser v e h e ld a t th is s e a s o n in r e c e n t y e a r s . T h e o p e n m a r k e t r a te s for call lo a n s a t t h e S to c k E x c h a n g e d u r in g th e w e e k o n s t o c k a n d b o n d c o lla te r a ls h a v e ra n g ed fr o m 1% to 2 % % ■ T o - d a y ’s r a te s o n call w e re 2 % @ 2 % % . C o m m ercia l p a p e r q u o te d a t 4 % fo r 60 to 9 0 -d a y en d o r se m e n ts 4 @ 4 % % fo r p rim e a n d 4 to 6 m o n th s sin g le n a m e s. T h e ’ B a n k o f E n g la n d w e e k ly s t a t e m e n t o n T h u rsd a y s h o w e d a n in c r e a s e in b u llio n o f £ 5 6 5 ,9 2 9 a n d th e p e r ce n ta g e o f r e se r v e to lia b ilit ie s w a s 5 1 .9 1 , a g a in s t 5 0 .7 0 l a s t w e ek . T h e r a te o f d is c o u n t r e m a in s u n c h a n g e d a t 2 % % , a s fix ed A p ril 1 T h e B a n k o f F r a n c e sh o w s a n in c r e a se of 4 ,1 7 5 ,0 0 0 fr a n c s g o ld a n d a d e c re a se o f 6 5 0 ,0 0 0 fr a n c s silv e r . S t a t e a n d R a ilro a d B o n d s .— N o sa le s o f S t a t e b o n d s h a v e b e e n r e p o r te d a t th e B o a r d th is w e e k . . O w in g to th e a b s e n c e o f sp e c ia l a c t iv i t y in a fe w is s u e s , w h ic h w a s a c h a r a c te r istic o f th is d e p a r tm e n t la s t w e e k , a n d to th e u n u s u a l in te r e s t n o w m a n ife s te d in th e s t o c k m a r k e t, th e m a r k e t for r a ilw a y a n d in d u str ia l b o n d s h a s b e e n rela t i v e l y d u ll a n d n a rro w . _ A m o n g th e e x c e p tio n a l fe a tu r e s h a v e b e e n U n io n P a cific P e n n s y lv a n ia a n d N o r fo lk & W e ster n c o n v e r tib le s , w h ic h h a v e b e e n s tr o n g in s y m p a t h y w ith th e sh a r e s— th e first n a m e d c lo sin g o v e r 6 p o in ts h ig h e r th a n la s t w e e k . On th e o th e r h a n d , In te r b o r o -M e tr o p o lita n 4 % s a re d o w n o v e r a p o in t a n d se v e r a l o th e r is s u e s a re f r a c t io n a lly lo w e r . U n it e d S t a t e s B o n d s .— S a l e s o f G o v e r n m e n t b o n d s a t th e B o a r d in c lu d e $ 2 0 ,0 0 0 4 s c o u p ., 1 9 2 5 ,a t 119 to 1 1 9 M , $ 2 ,0 0 0 4 s r e g ., 1 9 2 5 , a t 11 6 % a n d $ 1 4 ,0 0 0 2 s c o u p ., 1 9 3 0 , a t 1 0 1 . T h e f o llo w in g are th e d a ily c lo s in g q u o ta tio n s ; for 2s, 2s, 3s, 3s, 3s, 4s, 4s 2 s, 2s, X E W Y O R K C IT Y C L E A R IN G -H O U SE B A N K S . 1908. 1909. t r r Averages lor week ending Aug. 7. • $ 126 .3 5 0 .0 0 0 C a p it a l................................ 174 ,1 5 0 ,1 0 0 S u r p lu s................................ L oan s and d isco u n ts— 1 ,3 6 1 ,5 2 7 ,8 0 0 49 ,7 6 7 ,1 0 0 C ircu lation ......................... N e t d e p o s its --------------- 1,43 0 ,2 5 1 ,2 0 0 1 ,6 1 3 ,0 0 0 U . S . d ep . (Incl. ab ove) 30 4 .1 0 5 .0 0 0 S pecie -----------------------7 9 ,4 0 3 ,4 0 0 Legal ten d e rs................... Differences from previous week. Averages lor week ending A ug. 8. $ In c. 1 0 ,866,600 In c. 361 ,4 0 0 In c. 3 ,3 7 7 ,6 0 0 D ec. 116,000 D ec. 4 .8 9 8 ,9 0 0 D ec. 2 ,5 7 0 ,5 0 0 1907. Averages for week ending A u g . 10. - 401 ,3 5 3 ,4 0 0 3 4 2 ,1 2 9 ,1 2 5 2 7 6 .986.700 2 6 9 ,226,150 Surplus reserve........... 2 5 ,9 4 5 ,6 0 0 D ec. 8 ,3 1 3 ,8 0 0 59 ,2 2 4 ,2 7 5 7 ,7 6 0 ,5 5 0 Surplus, e x c l. U . S . dep 2 0 ,3 4 8 ,8 5 0 D ec. 8 ,3 4 2 ,8 0 0 61 ,5 3 3 ,1 7 5 14,709,500 sta te mflgurcs en t w eekly the returna to ta l Clearing HHouse ouse now now Issues u s i e a Thcge to g cthshow er w ing lth the ot th e actu al figures oni Saturcl^ y m 8 s ta t e Banking D epartm ent ° t s e p a r a t e b a n k s .a ls o t lm s u m m a t T ** > com panies n o t reporting to the —N ~ ote.— T h e C learing H o a X a p ^ r ° o f T e second page p r e c e d in g . F o r e ig n E x c h a n g e .— T h e m a r k e t w a s d u ll a n d h e a v y , w it h c o m p a r a tiv e ly n arrow flu c tu a tio n s th is w e e k , clo sin g a t a b o u t th e l o w e s t ; it w a s in flu e n c e d la r g e ly b y dearer m<To-3d a v ’s ( F r id a y ’s) n o m in a l r a te s for s te r lin g e x c h a n g e w e re 4 8 6 fo r s i x t y d a y a n d 4 8 7 % for s ig h t . T o - d a y ’s (F riH nv’s'l a c tu a l r a te s for ste r lin g e x c h a n g e w ere 4 85 @ 4 851 0 fo T lo n K 4 8 6 4 S @ 4 8 6 5 0 fo r sh o r t a n d 4 8 6 7 5 @ 4 8 6 8 0 for c a b le s C o m m ercia l o n b a n k s 4 8 4 7 5 @ 4 8 4 8 o a n d d o c u m e n ts fo r p a y m e n t 4 8 4 @ 4 8 4 % . G o tte n for p a y m e n t 4 84 @ 4 8 4 % , c o t to n for a c c e p ta n c e 4 8 4 7 5 @ 4 8 4 8 5 a n d gram % r < fa “ SlF r id 4a ^ ! 4a c u S r a tes fo r P a ris b a n k e r s ’ fra n cs w e re 5 1 8 % @ 5 1 8 % « for lo n g a n d 5 i 7 % d @ 5 for sh o r t G er m a n y b a n k e r s ’ m a r k s w e re 94 15-16 @ 9 5 for ' lo n g a n d 9 5 3 -1 6 d @ 9 5 3 -1 6 for s h o r t. A m s te r d a m b a n k ers g u ild e rs w e re 4 0 22 @ 4 0 2 4 for s h o r t. ^ E x c h a n g e a t P a ris o n L o n d o n 2 5 fr. 1 8 % c .; w e e k s ra n g e, 2 5 fr. 19 % c. h ig h a n d 2 5 fr. 1 8 % e . lo w . T h e w e e k ’s ra n g e for e x c h a n g e r a te s fo llo w s: _ -LongSterling, Actual— H ig h _______ 4 8510 L o w _______ 4 8490 @4 8525 @4 8510 Parts Bankers' Francs — @5 \ m @5 IS y ia Germany Bankers' M arks— H ig h _______5 18V*d L o w ............. 5 18*4 H ig h ______ L o w ______ 9 4 15ie @95 94H @94 X* Amsterdam Bankers' Guilders— H ig h .......... ..................... L o w ................... @ Less: t lu o . Plus: @ a 1-16 of 1% . k 1-16 of 1% . ........... -------- -Cables- ------------- Short 14 8660 14 8645 @4 8665 @4 8650 15 1744 j 5 1744^ @5 1744 @5 1744 I 4 8680 4 8670 @4 8690 @4 8680 13 *1004* *1004* *101 *101 *1004* *1004* *101 *101 1164* *116 *116 1194* *118 *1194* *1194* 119 *1004$ *10044 *10044 *10044 *10044 *10044 *10044 *10044 *10044 *10044 c t c s lo w a n e t a e c n n e io r u iu wuen.. Far daily volume of business see page 494. T h e fo llo w in g sa le s h a v e o ccu rred th is w e e k o f sh a re s n o t ST O C K S. Week ending A u g . 13. Sales ior Week Range ior Week. Range since J a n . 1. Lowest. 3 .500 3 d o pref B certs dep 2,300 8 200 34* Chicago Term T ransfer. C om stock T u n n el............. 3.200 2 6 c. 100 60 E v a n sv ille & Terre H au 20 105 G eneral Chem ical, p r e f.. 50 894$ I lo m e sta k c M in in g .. 200 7 0 c. H orn Silver M in in g .-----425 944 K eok uk * D e s M o in e s.. M S t P & S S M— leased 300 8944 line c e r tific a te s............. 154 82 N ew Y ork D o ck , p r e f .. . 200 3 O ntario S ilver M in in g .. 500 2644 Peoria & E a ste rn .......... .. HO T w in C ity R T , pref-----200 115 U S L eather, p r eferred .. 440 1444 V u lcan D e t ln n ln g ... Aug Aug Aug Atlg Aug A ug A ug A ug A ug 13 10 10 7 11 12 13 12 10 A ug Atlg A ug Aug A ug Atlg A ug 12 9 10 9 11 10 9 100 O utciidfi tsid e M a r k e t — C op p er sh a re s a ss u m e d p r o m in e n c e in in gg o n t h e - 3 ’ th is w e e k , a n d b u sin e ss for th e t h e trr aa dd in p a r t w a s a c t iv e a n d a t a h ig h r a n g e o f v a lu e s . T o -d a y jjcLi v YYcio vi v v . f u w h i l n n rip .o . m n v f > m n n ! « t h e f e w as S c S n g T n t h e a c t f v i t y , w h ile p r ic e m o v e m e n t s t n e r e w as a s ia c K tu m g i r i o n s 0 l i d a t e d a d v a n c e d fr o m 16 to w e r e m efc W a r . B o sto n C W ouaa C onUti(m m o v e d 10-ya d ° Sed at fr o m 2 5 M to 27 a n d so ld t o d a y m o v e d u p °from 1 6 « t o 17 g S S S r 26y f /4 ^ L .v R o se C o n so l i^ g M ta m . an d lddrX f? o m V 4 % o S T ! ? S S S fr o m 6 7 16 to 6 5 -1 6 a n d th e n so ld u p to 7 . In th e in d u sS p ro p erties A m erica n T o b a c c o o p e n e d 5, n o in U , d o w n .fr o m m o v i n g ^ u p a g a i ^ ' t o ^ O O ^ ^ 0 t ^ r e a e t c d ^ f i n a U y <t o V- i 6 0 ° 05 H d @954* 95 3 -1 6d @ 95 8-16 40 24 40 22 d 1-82 of 1% . x 1-32 of 1% . @ 40 26 @ 40 24 h 3-32 of 1%y 3-32 o f 1% . T h e fo llo w in g w ere th e r a te s for d o m e s tic e x c h a n g e o n N e w Y o r k a t th e u n d e r m e n tio n e d c itie s to -d a y : b a v a n n a h b u y in g 5 0 c . p er $ 1 ,0 0 0 d isc o u n t; s e llin g , 7 o c . p er $1 0 0 0 p r e m iu m . C h a rle sto n se llin g , $1 p er $ 1 ,0 0 0 p rem iu m N ew O rlea n s b a n k , 7 5 c . p er $ 1 ,0 0 0 d isc o u n t; co m m e r cia l $1 p er $ 1 ,0 0 0 d is c o u n t. C h ic a g o , 2 5 c . p er $ 1 ,0 0 0 d is c o u n t. S t. L o u is , 1 5 c. p e r $ 1 ,0 0 0 d is c o u n t. S a n I'r a n c is c o , 5 0 c . p er $ 1 ,0 0 0 p r e m iu m . A ua. 12 f $ 1 2 6 ,350,000 1 6 1 ,127.100 1,2 7 5 ,6 2 1 ,6 0 0 56 ,0 0 3 ,4 0 0 1,3 6 8 ,5 1 6 ,5 0 0 9 ,2 3 5 ,6 0 0 3 2 2 ,7 9 1 .7 0 0 7 8 .5 6 1 ,7 0 0 7 .4 6 9 ,4 0 0 844 .4 0 0 *1004* *1004* *1004* *1004* *1004* *1004* *1004* 101 *101 *101 *101 *101 *101 *101 *101 *101 *116 *11944 *10044 *10044 Aug. 11 * T h is Is th e price bid a t the m orning board: no sale w as m ade. 0 ; 3 8 3 ,5 0 8 ,4 0 0 D ec. 35 7 ,5 6 2 ,8 0 0 Inc. A ug. 10 9 7 R a ilr o a d a n d M is c e lla n e o u s S t o c k s .— T h e s to c k m a r k e t h a s b e e n m ore a c t iv e a n d in m a n y c a se s p r ice s s t e a d ily a d v a n c e d u n til t o - d a y . A s a r e s u lt o f th is m o v e m e n t a lo n g lis t o f p r o m in e n t issu e s w e n t se v e ra l p o in ts a b o v e p r e v io u s r ec o rd s, in c lu d in g N e w Y o r k C e n tr a l, P e n n s y lv a n ia , B e a d in g , I llin o is C e n tr a l, A tc h is o n , all th e tr a n s -c o n tin e n ta l s t o c k s a n d th e le a d in g in d u str ia l sh a r e s. L o u is v ille & N a s h v ille h a s b e e n c o n sp ic u o u s fo r a n a d v a n c e o f 15% p o in ts . I t r ea c h e d 147 la s t w e e k , a n e w h ig h r e c o r d , a n d a d v a n c e d d a y b y d a y to 1 6 2 % . N o n e w s a c c o m p a n ie d th is a d v a n c e . S im u lta n e o u s ly A tla n tic C o a st a d d e d 8 p o in ts to it s la s t w e e k ’s c lo sin g p r ic e , U n io n ic 7 , N o r th W e s t n e a r ly 6 , I llin o is C en tral o v e r 5 a n d ] , N o r th e r n O re 6 % . A t th e sa m e tim e a fe w issu e s v --------------------$ 129,400,000 161,407,400 1 ,110,453,300 50 ,1 5 5 ,1 0 0 1,076 ,9 0 4 ,6 0 0 2 7 ,7 95,800 2 0 6 .346.700 70 ,6 4 0 ,0 0 0 R eserve h e ld --------------25% of d e p o s its ----------- 1930 _________ registered 1 9 3 0 _____________ coupon 1 908-1S............r e g is te r e d 1 9 0 8 -1 8_________ coupon 1 9 0 8 -1 8 ____sm all coupon 1925 _________ registered 1 9 2 5 .......... ................coupon 1 9 3 6 .Panam a Canal regls 1 9 3 8 .Panam a Canal regls Aug. Aug. Aug. Interest Periods M i IT I I I g s s s s s s s t © < x 2 c ti« . 134% ; b u t th e s to c k s u b s e q u e n tly so ld b a c k to 1 3 0 . n S o u th e r n Iro n & Sted a to o k e. ‘ ” c o n tm u ^ m o n m o v in g u p from A c t i v it y th e com 20 A * fr o m 24 to 2 6 a n d r e a d e d fin a lly to 2 5 H A th r e e -p o in t a d v S e to’ M in aT k ed th e c h a n g e in th e preferred C h icago S u b w a y so ld u p fr o m 2 2 % to 24 a n d dow0^ t o 20 Bonds w ere d u ll. W e ster n P a cific 5 s ro se fr o m 9 8 % to 9 8 % a n d e a se d off to 9 8 % . .n . ( [ O u t s i d e q u o ta tio n s w ill b e fo u n d on p a g e 4 0 4 . New York Stock Exchange—Stock Record, Daily, Weekly and Yearly O C C U P Y IN G ST O C K S— H IG H E ST A N D L O W E ST Saturday Aug. 7. M onday A u g . 9. 11934 120*) 119*2 *104% 105 *1047,8 134*4 1343,1 134 11934 120 11934 94 *93 93*8 80*4 8OI2 SI 187 18738 187 *09 70 *08*2 315 315 *310 79% 80 80 *08 08 69 *73 80 *73% 434 4 4% *00 *61 05 *25*- 45 *22 *03, 634 03., 1011 162*4 16134 17211 172's 172*4 192’% 193 193 §230 230 *225 *100 105 *160 *170 190 *170 *0 5*2 0*4 15% 15*2 *14 *07 75 77 *1043.1 *105 501» 56*2 *56 *813! 82*- *81*2 80% *80l-> 8 U 4 1901.| 1907s 196 +555 000 51*4 51”s * 5 0 % 80*4 se ts 8012 *67 70 *05 103.1 17*1 17*4 33 3314 33% 37% 38*s 38% 50*8 50 50*2 4534 40 40 154*2 154*- 155 843., 84 82*4 *15U 1534 *15*4 64 64 04 *84 *84 90 *100 115 *100 *92 931 *92 156*4 1571 1563s 15% 10 15*4 49*4 495s 48*2 32 32% 32*2 57*t 5734 5712 *78 78*-i 78*2 47% 48 4738 *7238 73*4 73 2634 *20 26 59 62 *58 09*4 6934 08 1403, 148*2 14834 *>144*2 140 *144*2 *20 *20 23 5434 §55% 55*2 *84 *84 90 14434 145*4 . . . „ 144*2 ____1 164*2 *102 4234 43 43*4 74t2 *7414 74% 7534 7034 77*4 *130 135 133*2 52*2 52*2 *52*2 24% 217S 25*8 140*4 141% 1393., 50)34 58 *54 *100 110 *100 *S7 89 *85 *170 172 §171% 5134 51*i £2 95 96*4 90% *90 156* 150% 155% *95 99 *90 *98 *98 100 *97 *97 100 141% 142*4 1 *1*8 92 92 92 *115 120 *115 103% 11)43., 103*2 94% *93*2 94*103 *100 *101 3934 3934 40*4 70*77*2 77 *71 72 *70 55*2 55*f 553, 28 28*8 28*4 673, (>734 68 135% 130*4 13434 "32% 723, 363g 19 11 533, 71*4 104 2027s 104*4 *35 *54 22 58*8 6 *0*2 *18 *7157% *88 . 72% 36*3 19 * 10*4 53% 70% 1033., 203% 104*4 37*2 *54 213, 5734 5*2 *6120 9*2 *57 *88 73% 30*2 20 11% 53% 71% 103% 205% 10434 37*551 22 % 58% 6 7*2 20*8 10 59% 90 Hid A sk 32*2 73 36 191.1 10 % 53*4 7034 1033, 20411011*36 54 2134 57% 5 7% *19 *8 57 *S8 33*8 73% 36*2 19*4 10 % 533, 71*2 103*4 20538 1043j 38*54 22% 5834 51 8 21 10 57 90 Thursday Aug 12 "32% 34” 73 74*2 303, 30 19*2 1034 10% 10*53% 52 7034 71% 104 104 2033S 207 104*4 105*4 37*4 37% 54 54 2134 22 573i 5S% 5 5 8* 8 21 *19 10% 1()34 *56*2 58 90 *88 h a n k s Banks 0 A L E PRICES. Wednesday A u g . 11. Friday Aug 13 Sates / the Week Shares 120*2 11934 12034 11938 120*2 120 121% 119 1203s 154,000 2,058 1017s 10538 104.% 10434 104*2 10434 105 §105 105 130 142*2 141% 143*2 141 141*2 18.500 137*2 137 138 39,650 118% 11934 119% 120% 120 119% 120% 119*4 120*4 460 94 94 *93% 94 94 *93*4 94 93*8 *93 7934 8034 33.500 81% 80 813g' 80% 80 79% 80% 18,850 18634 180 1871 186% 180*2 18534 18734 180*2 187% 100 68% 683s *6834 0934 *08*2 0934 70 * 68*2 70 1,110 314 3143, 310 310 310 314 310 310 315 82*s 833s 133,350 83 83% 83 81 8134 82% 81% 1,200 69 *08 09 09 69 69 69 69 09*100 *73% 76 *73% 70 73*2 73% *731- 77 76 7,700 3% 4 3% 2 % 3*8 4 4% 3*2 3 64 *61 64 *61 04 *25 *25 45 45 45 *25 45 *25 45 3,700 8% 81 8% 8% *7% 8*2 8 8 7*8 100% 15934 1603:, 158% 100*8 109,918 102% 102% 103*2 z l5 9 8,000 1713, Zl70% 172 1703., 171% 173 171 172*173 15,580 194 19434 194 190*2 190 198 195% 197 195 113 228 228 *227 229 22*) *223 229 *223 224 800 1631 103*2 163% 105 160 107 105 *160 105 100 180 180 *175 185 *175 185 190 *170 190 500 03, 6 *5*0 % *5*2 6 % 6% *5.% 5*2 100 14% 14% *13% 15*2 *13 *13% 1534 15 10 *74 1,500 75 75 75 75% 77% 75 77% 77 *10134 *105 *1041*105 495 50 §55 *5*6” 50” 54% "55 " §55 56*2 55 813, 813, 82% 82% 702 82% 82 82 §81*2 82 800 80% 80*4 SOI, *80*, 81 80*4 80% 80*4 80% 8,800 197% 195% 190% 195*2 19534 190*4 197% 195 196% 000 *550 000 *550 000 *550 600 *550 000 5134 51% 52 51% 52% 51 52% 51% 39,630 50 88 % 88% S934 88% 89*4 88*2 89*4 88*2 28,875 87 725 70 *05 70 7134 *65 08 70 69 68 1034 420 10% 16% § 10% 10% 10 % 16% *16 17 32 918 33 32% *313, 33 32 *3134 323, 32 3734 38*4 38% 37% 38% 37% 38-% 36% 373, 85,050 5034 50% 56% 553, 14,800 55*- 50% 55 55*2 56*2 2,300 40 45'g 457s 45% 45*- 46 46 40. 45 155% 155 156 155 * 150% 15034 157% 150 157*2 79,310 86*8 ' 85% 86% 85*- 8734 87 88% 8534 87% 83,200 10 *15% 1534 *15% 1534 *15% 10 *15*4 16 2,300 04 04*4 05 05 *63 65 65 05*2 05 90 87 *84 *84 90 *84 90 89*2 *84 9,300 115 115 110*2 110% 122% 120% 122% 11934 124 300 9434 94% 94% *93 931 *92 931 94 93*157% 15678 157% 150% 157-% 15734 102% 1593, 101*2 37.500 9,900 14% 15 14% 15*2 15% 15 15*4 15% 15% 46% 47% 20,200 491 481s 4834 47*4 48*8 4634 49 327g 32*4 32% 313, 32% 32% 32% 31% 3134 5,870 0,850 573, 58% 5734 58*2 57% 58*4 58 59 58% 300 *77 78% *77 78 78 78*2 78*2 78*2 *77 473, 47*2 47% 47 47% 47*2 10,100 47% 473, 48 1,740 723., 73% 73% 73% 7234 723, 73*2 73 73 520 *25% 28 26% 26% §25% 2 .r% 27*2 28 28*900 60 61% 01*2 61 60 58% *57 58 59% 600 693, 0934 *69 70 *08 *07 70 70 08 152 153% 154 100-% 159*2 102% 1591 100*2 34,850 152 500 144 144 143% 143* 145 1441- 1447)8 *144 145 23 *20 *19 *20 23 24 *20 23 23 2,390 55% 55% 50 50 50 56*4 50 56*s 56% 100 92 *84 88 88 *84 92 90 90 *84 3,400 144 145 14578 144 144 145% 14334 144% 144 200 104*2 164 104 *102 165 *102 165 *100 165 42% 43*2 42 42*2 27,350 423s 43*8 43% 41% 43% 2,130 74% 75 7434 *741- 75 74% 74% *7434 75 743, 70% 27,133 7534 76*2 70*4 75% 77% 70 75 1,320 139*2 139*2 +135 140 134% 135 135 135 139 1,200 5234 52% 52% 52% 53*4 5134 521., 51*2 51*2 6,100 2434 25 2434 24% 24% 24% 24% 24*s 2434 111% 139*- 140% 139*2 111% 141 143% 142*2 144*4 163,200 500 50 50 57 57 56% 50% 50*2 50*2 50*2 110 *100 110 *100 110 *100 110 *100 110 200 89 87% 87*- *87 88 89 *87 *87 88 1,320 171% 171*- 1 7 U - 171% 171*2 171% 172% *170 172 51% 52 5034 5134 12,310 5134 52 52 51% 5178 95% 90% 9534 95% 13,700 95 95 95*95 96*4 200 91 91 92 91% 91% 156% 155% 150*8 156% 15S58 158*4 159% 157% 15834 119,400 102og 102% *100 103 2,000 9734 103 99 *95 99 218 100% 100% *100 103 *98 100 *98 100 100 400 993, 100 *100 101 *100 104 *97 100 100 14134 142% 143% 14134 143*2 104,980 141 141% 141 142 92 1,450 92 921., 92 91*2 92% 92% *9134 93 120 *115 120 *115 120 *110 117*2 *110 117*2 102% 164% 103% 100 103 lOUg 700,000 105% 103% 165 000 *93 94 95 94 95 94% 94% *93 94*2 100 103 *101 103 *100 102 *100 102 *100 102 41% 42% 40% 41% 40% 40*2 42 40*2 41% 106,725 38,100 79% 80 78% 79 77*3 79% 77% 79% 80 100 72 72 72 *70 73 *70 73 *70 503, 8,710 50 50 55% 50 57% 50*2 50*4 57% 3.200 27% 28*s *27% 27% 27.% 28 273g 27* 28% 3.000 07% 07*2 07% 08 073, 0734 07% 07% 07% 135% 1343, 135% 134% 130% 1357s 137% 13538 13034 325,700 32% "32% 32% 723, 3 03, 19 IH 4 53% 71*4 104 20438 1053., 37 55*223,s 58% 0 8 20 9 58 90 Tuesday A ug. 10. TW O Banks H id ’ 33% 34” 75 74 30 30% 1834 19% *9*2 11% 5234 52% 71% 7134 104 105% 208% 210% 106*4 1091., 37 371 55 50 213., 22*., 57*4 5834 5*4 0*8 8*2 8% *18 21 10% 10% 567g 57 *88 90 a n d t r u s t A sk Banks 200 425 New Y ork 180 157*- 162% A e t n a _____ 585 C it y ................. t 3 8 1 A m e r ic a II. . 575 145 255 5135 A m e c E x c h . 250 C o lo n ia l 11.. 300 B a tte iy P k 13'J ___ C o lu m b ia 11. 425 B o w e r y U . . 375 18/ C o m m e rc e . 184 I ir o n x B o r o l 300 165 C o p p e r ____ 200 B r y a n t P k 1 155 150 340 C orn E x 11.. 3*3 B u tc h & Dr 140 135 176 E a st R iv e r . 125 C e n tu r y 11. . 170 175 F id e lity 11.. 165 C h a s e _____ 300 3"()>> F ifth A v c l l . 4000 — C h a th a m _ . 295 t B id a n d a s k e d prices; no s a le s w ere m a d e o n t ill *’ S a le a t S t o c k E x c h a n g e or a t a u c t io n t h is w e e k . "32% 3334 84" 200 8 ,550 73% 73 35% 30% 17,225 2.200 18% 1834 800 11 *10 7,250 52% 63% 7,200 71% 71% 1053, 108*2 4,733 208*4 215 732,880 108 118 100,305 1,800 36 37*4 2,800 55 57 21% 22% 7 ,500 5634 5734 3 5 .800 5% 0,100 51*713.000 81 400 21 *18 800 11 *9 1,600 57*2 57% *88 90 A sk Range since Ja n . 1 1909 On basis ot 100 -share lots STOCKS N E W Y O R K STOCK EXCHANGE & S antaF e A tchDTo oppekr eaf ____________ A tla n tic C oast Line RR__ I T a ltim o r e & O h io 1 * D o p r e f ____________ B r o o k ly n R a p id T r a n s i t . f T a n a d l a n P a c ific _______ v ^ a n a d a S o u t h e r n _______ C e n tr a l o f N e w J e r s e y ___ C h e s a p e a k e & O h io _____ C h ic a g o & A lto n R R ____ D o p r e f ________________ h lc a g o G re a t W e s t e r n . . D o 4% d e b e n t u r e s ____ D o 5% p r e f “ A ” _____ D o 4 % p r e f “ B ” _____ C h ic a g o M ilw & S t P a u l . D o p r e f ________________ C h ic a g o & N o r th W e s te r n D o p r e f ________________ C h ic S t P M inn & O m a h a D o p r e f ________________ C h ic U n T r a c c tf s s tm p d D o p ref c tf s s t m p d ___ C le v e Cln C h ic & S t L — D o p r e f ________________ C o lo r a d o & S o u t h e r n ____ D o 1 s t p r e fe r r e d _______ D o 2 d p r e fe r r e d _______ e la w a r e & H u d s o n ___ e la w a r e L a c k & W e s t . D e n v e r & R io G r a n d e — D o p r e f ________________ D e t r o it U n it e d ___________ D u lu t h S o S h o r e & A tla n D o p r e f ________________ D E r “ D o 1 s t p r e f _________ D o 2 d p r e f_________ G re a t N o r th e r n p r e f _____ Ir o n O re p r o p e r tie s ___ G reen B a y & W . d e b c t f B a v a n a E le c tr ic _______ D o p r e f ____________ H o ck V a l J P & M Co r e ts H o c k in g V a l l e y p r e f ____ llln o ls C e n tr a l_________ n te r b o r o - M e tr o p o lit a n . D o p r e f ______________ I o w a C e n tr a l_____________ D o p r e f ________________ C F t S & M tr c fs , pref a n s a s C it y S o u t h e r n .. D o p r e f ____________ a k e E rie & W e s t e r n . . D o p r e f _____________ L o n g I s la n d ______________ L o u is v ille & N a s h v ille ___ \ / | a n h a t t a n E le v a t e d ___ ''M e tr o p o lita n S t r e e t ___ M in n e a p o lis & S t L o u i s . . D o p r e f ________________ M inn S t P & S S M a r ie .. D o p r e f ________________ M o K a n s a s & T e x a s _____ D o p r e f ________________ M isso u ri P a c i f i c _________ a s h C h a tt & S t L o u ts , a t R y s o f M ex 1 st pref D o 2d p r e f _____________ N Y C e n tr a l & H u d s o n . N Y C h ic <Se S t L o u is ____ D o 1 s t p r e f ____________ D o 2 d p r e f ____________ N Y N H & H a r t f o r d ____ N V O n ta r io & W e s te r n . N o r fo lk & W e s te r n _____ D o a d j u s t m e n t p r e f— N o r th e r n P a c ific _________ |> a c lf lc C o a s t C o ________ L D o 1 s t p r e f _________ D o 2 d p r e f _________ P e n n s y l v a n i a ____________ P ltt s b C ln C h ic & S t L . . D o p r e f ________________ | > e a d ln g _________________ MX 1 st p r e f _____________ 2d p r e f _____________ R ock I s la n d C o m p a n y — D o p r e f ________________ t L « S a n F r , 1 s t p r e f. D o 2d p r e f ----------------S t L o u is S o u t h w e s t e r n .. D o p r e f ________________ S o u th e r n P a c ific C o --------D o p r e f ________________ S o u th e r n v tr c fs s t m p d . D o p ref do ' e x a s & P a c if ic ------------b ird A v e n u e (N Y) — T o le d o R a ilw a y s & L ig h t T o le d o S t L & W e s t e r n . . D o p r e f -----------------------T w in C ity R a p id T r a n sit n io n P a c ific — D o p r e f ------U n it R y s I n v ’t o t S a n Fr I )o p r e f ------------a b a s h ________ D o p r e f ... W e s te r n M a r y la n d W h e e lin g & L a k e E r i e . . . D o 1 st p r e f------D o 2 d p r e f ------W isc o n s in C en tra l D o p r e f T r u s t C o c tfs H L K L N S 1 U W — b r o k e r s ’ Banks H id 350 JcITerson H . 180 F ift h ............ 300 840 L ib e r t y ------ 630 F ir st _______ 820 ISO L i n c o l n ___ 420 U t i l S t 11 . . 155 M anhattan H 335 F o u r t h ____ 220 M ark’t& F u l 258 350 340 G a lla tin — M e c h a n ic s ’. 252 G a r f i e l d ___ 290 M erca n tile - 180 G erm A m 1i 140 M erch E x c h 100 G c r m ’n E xll 450 ____ M e rc h a n ts’. 1163*4 G er m a n ia 11 550 280 M e tr o p o lis 1 375 G r e e n w ic h 1 265 565 M e tr o p o l’nll 187% H a n o v e r . . 550 655 im p & T ra d 515 M t M orrtsll- 250 290 I r v in g N E x 1202% — M u tu a l H— day. t W x -rlg n ts. § L o ss t h a n 100 sh a r e s. /j F ir s t I n s ta llm e n t p a id , n S o ld a t p r iv a te A sk 500 435 345 263 260 195 105 ____ — 195 ____ — Range tor Previous Fear (1908). Highest Highest R a ilr o a d s c o m p a n ie s H id I'M J K * 9778 J a n 13 100*4 J a n 20 107*- J a n 14 103*2 F e b 23 92 F e b 3 07 J a n 9 rlGS M ch 3 60% J a n 11 215 F e b 23 55% J a n 6 577g F e b 24 71 F e b 24 % J ’ly 28 55% J ’n e l l 23 J ’n e l 9 4 J ’n e 2 s 141 F e b 2 158*- M ch 15 173% F e b 24 *208 M ch 15 148 A p r 22 1 6 6 * -J a n 30 4 J ’l y 6 12 J ’l y 12 t 8 J a il 29 100 J a n 4 5 4 % A u g 12 7 o i- J a n 2 73% J a n 2 167% F e b 24 535 F e b 0 37% J a n 6 79* - J a n 6 50 J a n 30 15*4 J a n 6 28 F e b 23 22% M ch 11 30*- M ch 11 28% M ch 11 130% F e b 24 65 % M ch 12 14 F e b 26 39 F e b 1 83% F e b 5 97 M a y 3 88 A p r 27 137 F e b 23 11% M ch 23 30% M c h 23 27 F e b 24 541- J a il 4 74% F e b 2 37 F e b 23 67% F e b 24 191- F e b 25 48 J a n 23 59 J a n 4 r l2 1 J a n 29 142 M ch 25 18 J ’l y 2 52 M ch 6 81 M ch 10 132% J a n 2 147 A p r 13 35*2 F e b 23 71 F e b 23 65 F e b 24 122*» J a n 5 44% A p r 5 23 J ’n e 2 l 120% F e b 24 48% M ch 15 100 F e b 20 76% A p r t 157*8 F e b 24 42% F e b 24 84*4 J a n 6 85*8 M ch 26 133% F e b 24 70 M ch 3 100 M ch 30 88 M eh27 126ilS F e b 83 8 0 * -J a il 5 104 F e b 10 lls F e b 23 89 M ch22 90 F e b 1 20% F e b 24 57% F e b 24 65% M ch 29 36 F e b 23 20*- F e b 25 4 7 * -J a il 6 *14-% F e b 24 118% F e b 24 22 F e b 24 60 J a n 5 30 F e b 24 10 J ’ly 2 7 M a y l2 43 F e b 26 04% F e b 24 97 J a n 2 172% F e b 24 204 M ch 1 30 F e b 25 50*4 F e b 25 15 F e b 23 41 F e b 23 31- J ’ly 30 5 ' J ’ly 13 15% J ’ly 13 0% J ’l y 13 357g J a n 6 86% H c h S l 121*8 A u g 12 6fi F’eb 100% J ’n c 2 8338 F e b 143*- A u g 12 69*- Mel 122% J ’l y 2 c 70l2 F e b 90 A p r 12 80 J a n 8278 J ’n e 7 37% F eb 189% A u g 2 140 F e b 54 M el 68% A u g 315 A u g 6 160 F e b 837s A u g 12 251- F e b 7434 A p r 1 10 " F e b 78*2 M ch: 7 47 M ch 11% J a n 2 3*s F e b 64 M a y l7 33*2 Mch 37 J a n 4 15*2 F e b 14*8 J a n 2 5 Feb 163*2 A u g 10 103% Jan 138 J a n 17 i A u g 9 198 A u g 1'. 135% J a n §230 A u g 7 §185 J a n 114 F e b 167 A u g 13 §180 J ’l y 27 140*2 J a n % Apr 7 Jan 4 4 Apr 18*4 J a n 27 47*2 J ’ne 79% F e b 16 105 M ch 22 85*s F e b 21 F e b 68% J a n 8 86 M a y 1 60% J a n 84*2 J a n 7 3934 F e b 200 M a v l4 141% F e b 680 A p r 22 420 J a n 54 A p r 20 14% F e b 90 F e b 10 39% Mch 7134 A u g 13 32*2 A p r 21 J a n 16 6 Feb 36% J a n 16 1184 F e b 39 J ’n e 7 12 M ch 66% A u g 9 2438 M ch 46 A u g 2 10 Mch, 1577s A u g 12 113% F e b 8 8 % A u g l2 48*- J a n 17 J a n 4 8 Jan 65 A u g 10 20 M ch 89 J ’n e 12 §70 J a n 124 A u g 13 62 F e b 94*2 J ’n e l l 69 M ch 102% A u g 12 122*- F e b 6% J a n 19 J a n 5 17*8 F e b 62% J ’n e 28 10 F e b 36 A p r 15 62 A p r 15 27*2 F e b 79*2 M a y l3 67 A u g 48% J ’ly 30 13 F e b 74% M ch30 ■*6 F e b 29*- A u g 2 12 J a n 0478 J ’n e l 4 34 May30 F e b 71*8 M ay24 87% F e b 153*- J a n 4 120 J a n 42 J a n £ 15 F e b J a n 8 65 20 M ch 61 F e b 90 J a n 8 149*2 J a n 8 79% J a n 164% A u g 9 123 % F e b 4478 J a n 22 17*2 M ch 75% J a n 21 40 F e b 77*- A u g 5 28*2 F e b 139% A u g 12 97% J a n 55 J ’ly 8 20% May!:2 144% A u g 13 90*8 J a n 59 J ’n e 7 24% J a n 100 F e b 20 90 J a n 87*2 A u g 12 60 F e b 17434 J n e 14 128% J a n 55-% J ’n e 12 29*8 F e b 96% A u g 7 68 F e b 9 2 ‘2 J ’ly 28 74 Mch 159% A u g 12 1 1078 J a n 103 A u g 11 65 S e p 100% J ’n e 23 90 M ay 100 M ch 31 79 M ch 14378 A u g 12 108% J a n 9478 A u g 3 59 J a n 116 A u g 3 81*8 M ch 166 A u g 12 92% F e b 94% A u g 6 78 J a n 10434 M a y l3 70 J a n 4238 A u g 12 10*- F e b 80 A u g 11 20% F e b 73 J ’l y 15 42 J ’ne 57*2 A u g 12 19*4 F e b 28*2 J ’n e 2 10 M ch 71*2 J ’n e 2 24*- F e b 137% A u g 12 60*4 F e b 137 J ’n e 8 1O038 J a n 34 A u g 11 9% J a n 75 A u g 12 251- M ch 1234 F e b 37% F e b b 42' - J a n i s 15*2 M ch 15% J a n 2 6 % O ct 5434 A p r 19 12 F e b 33 F e b 74*4 J a n 4 78*4 F e b 108*2 A u g 13 215 A u g 13 110% M ch 118 A u g 13 79% A p r 39% J ’n e 2 l 15 J a n 59 A p r 29 27% J a n 2438 J ’n e 15 634 M ch 61% J ’n e 15 13 M ch 283s M a y 7 6 M ch 4% M ch 12?8 J a n 4 26% J a n 8 12% Apr 15% J a n 8 o Feb 03% A p r 20 13% F e b 91% M av20 101% D e c ] 04 D e c 111% D e c 117s D e c 9 ’ D ec 6934 D e c 180*8 N o v 68 N o v 229 D e c 59% D e c 0878 D e c 79 D e o 14% N o v 68% A u g / 3 D ec 17*8 N o v 152*2 D e c I643j D e c 185*2 D e c 224 D e c 160 D e c 174 D e c 7% D e c 18 D e o 70*2 D e c 59% D e o 59 D e o 79 D e c 76 D e o 181%'. D e o £75 N o v 40% D e o 83% D e o 56 N o v 18% N ov 3334 N o v 30 N o v 6138 D e c 41 D e c 148% D e c 75*8 N ov 17% D e c 40 D e c 84 D e c 104% Dec 93 D e o 14934 N ov 20 D e c 49% D e c 32*2 D e c 67 D e c 75*2 D e e 4238 D e o 72% D e c 26 D e c 68 D e o 56% D e c 125% D e c 154% D e c 44% D e o 66*2 D e c 90 D e o 135 N ov J6 H 2 D e c 43*- D e c 75% D e c 67*2 D e c 122 N ov 12b D ea 57*- D eo 105 N ov 85 D eo 101 N ov 4778 D e c 86% N ov 88 D e c 157*4 N ov 93% J a n 90 Maj 97 J a n 132% D ec 88*2 D ec 108% Nov 143*4 D e c 92 D e c 99 D e c 25% D ea 6258 D e c 69 D eo 42% D e c 24 D e c 5578 D eo 122% D ec 125% Ma; 27% D e c 63% D e c 37 % D e c 47 Aug 1512 D ea 60 D e a 73% D e a 96% D e c 1847S N ov 98 N o v 40 D e o 59% D e c 20% D e c 5234 D e c 24 D e c 13 D e c 20% D e c 15% N o v 38% D e c q u o t a t io n s Banks H id N a s s a u U___ N ew N e t h ’d N ew Y orkC o N ew Y ork . N ’h t <S»Day1i 1 9 th W a r d . N o r th e r n . . P a c ific 11___ P a r k _______ P e o p le 's 11-. P h e n l x ____ P la z a H____ 205 200 760 325 220 110 230 465 280 175 610 A sk Banks 210 ____ 335 250 420 ____ 240 470 205 185 625 P r o d E x c h 1, R e s e r v e . . __ Seaboard . . S e c o n d ____ Sherm an . . S t a t e 11____ 1 2 th W a r d . 2 3 d W a r d 1, U n io n E x c . vVash H ’ts 1 W e st S id e 1, Y o r k v llle U H id A sk 170 185 142 152 , 360 380 | ___, 375 ___ 135 290 ____ ISO J ____ 100 187*2 195 : 270 ____ 500 — « 425 5 N cvr s t o c k , s a le a t t h is p rice 396 New York Stock Kecord.---Concluded— Page $ STO C K S--H IG H E S T A N D L O W E ST S A L E P R IC E S Saturday Aug. 7 *218 Id’s 6(534 85% 49 *99 47L *95 13 833s 6933 *120 7034 *102t2 *229 9 48*4 38 17*4 45*4 68*4 *121 973 6(5 893s 100*4 116*2 *250 *101 63 13134 12533 14234 10138 3938 105% * 1 0 7 li 5 33*2 65 *144 *17 32 3634 109 4634 70*2 14433 24<s *88*2 *56 40 §83% 9234 *90 172*4 *100 80 122 ♦65s * 2112 1734 68*2 *40*4 8734 *83 *74 *106*2 >125 17*4 89 91*3 113*8 3 96*2 *142 85*4 3134 115*2 16*2 66 641s 109 197 433 *5 53*4 *108 3834 108 8612 *118 40*4 * 90 13*4 *76*2 11134 34*2 *84 *89 *14 *35 46 11778 ml 76*2 127*4 5178 50*2 »12212 *64 *310 7534 89 *126 Monday Aug. 9 16*o 5678 863s 49 110 48*4 96*2 13 84 6934 123*? 77*2 107 235 9 497,8 387,8 17*4 45*o 6834 122 10*4 56*? 8938 10138 116*2 300 100 (53*4 132% 125*0 143*4 102% 3934 10(5 4978 *225 1534 66*4 847S .48*4 *100 47*4 ♦95 12*2 84*4 69 122*4 77 *10212 231 9 4834 39 17*8 44 6712 120*2 10*3 56 89*4 10034 116 *250 *101 62*3 132*2 1255s 14212 10135 393, 105*8 4834 5*8 34 65 145 19 32 37*8 1097s 4712 72*2 145*2 25 89*2 60 40% 83*2 9334 33*2 65 *14212 1815 3112 3558 109 46*2 70 143*4 243.J 89*3 *56 3934 588 93 98*2 17238 105 89 122*2 7*4 22*2 1734 69 41 873., 85 76 108 Tuesday A u g . 10 *225 16 15*2 5538 5634 863S 8534 4834 4838 110 *103 4738 48 96*2 §9638 13 12*2 843., 84 697S (5834 122*4 *120*8 7558 77*2 107 *1041? 2 3 U 2 *230 93s *9 49*o 48*2 40 383g 1634 17*4 45 44% 683,, 675S 1201o 121 10*8 10*8 5610 55*s 893, 893S 1023s 102*3 116*2 116 300 *250 110 *101 623| 6134 134*s 133*4 120*8 *126 142*4 143 102 101*2 3834 39*8 105*, 10578 4834 49% ♦10734 *107*2 5 5*s 34*2 33*4 65 67 145 145 18*s §17 32 32 37*4 35*2 109*2 *108*2 463.1 47*2 71 70*2 14434 144 247, 24*2 893s 89*s 60 *50 397S 40 88 *8-1 93 93 •‘■'1*4 I > t 'l 22 17 68 40*4 88 83*2 *74 *106*4 17*4 *16*2 89 89*4 9158 91*8 113*8 11338 3 3 9634 97 1421? *142 80 87 32% 31*s 116 115*4 163s 163S 6(5 *54 53*2 645s 110 110 1997,8 198*4 5 5*8 (>*" *5*2 5333 62*4 109 *108 397s 3834 10838 106*2 88*3 86*2 120 *118 40*2 40 93 *90 13*2 *13*2 79 *77*5 11134 11034 34*2 *34 84 85 95 *89 83*2 16 *15 38 *36 4(5lo 46 11778 117*8 863S 86 7678 77*2 12734 126*2 62 51*2 5034 51 123 123 *64 67 *310 7534 75*2 S834 90 130 *120 A ug. 11 *225 15*2 *15*2 5434 56 87 87*4 483,, 4S34 106 ♦ 103 4814 45 9638 *95 125, 12% 8 4 I4 83*3 0734 693, 123 122 7534 77 107 *102% 240 *228 912 9*s 49 48*2 391, 37*2 163, 16*2 4434 44% 683, 66*4 121 120*2 10*8 10*8 55 65*4 89*s 8912 1021s 103 1163s 115*2 300 *250 106 *101 61 (5212 13334 132% 120 130 1423i 142 10134 1015s 39*4 38*2 1057s 105*4 497S 4 9'8 *10734 *107*2 5 5 333s 33*4 60*? *65*4 146% 147 §17% 17 32 31% 35% 30*8 109*2 109 483.J 47*8 71 71% 1453S 145 2434 24 803, 8S33 60 *56 3878 397, *84 87 93 93 ♦90 98*" 171*2 172*4 Thursday A u g . 12 171*4 171*2 17034 104 104*2 103*4 89*2 89*4 8934 < C 'l r1207s 121l2 121 1 *6*4 V*S *675 7*4 2212 23*4 * 21i 2 212*2 17 17% 17*? 17 68I4 687, 67*2 68*2 40*| 39l2 40% *40 88*4 88 883, 88*4 833s 83 83 83*2 *7433 *7438 75 75 106*2 10034 *10312 ♦ 1201s ♦ 125 16% 17*2 16% 1634 90 89*i *89 89*4 9134 92% 92 927, 113*? 113*8 113*4 113*4 33, 3*2 3L 3*4 963s 97 96*2 97 142*? 142 142 *142 80 85 87 85*2 313.1 3134 *31 3134 11534 115*8 I I 5S4 115*4 15 15 16*2 10*8 55*2 66 55 54*2 6434 53*2 54*4 533,s 11134 1107s 111 110 198*? 199 1993, *197 53s 5*2 5*4 5*8 0 612 *5*2 *5*2 5134 52*4 5234 63*2 109 108*4 108*4 109 38 395s 38*4 39 107 107*4 100*4 108 803S 86*4 87 86% 119 120 *117 120 4034 40% 40*8 4034 *90 91 91 93 13*4 14*2 13*2 1334 *75 793,1 *77 80 111 111 111*2 110*2 3334 34 35 34 *84 84 84 841.4 *89 95 95 *89 *82% 83* ■> 82% 83 *14 10 16*4 *15 3833 383S 38*8 38*8 45 46% 45*2 45*2 11778 117 11718 117 80 *8434 80 86 781, 77*? 78 7633 1273, 126*4 127 126 52 62 51*2 52 5034 51*4 5034 51 123 *12212 123 *121 *64 67 *64 67 *310 *310 75*2 75 78*" 7434 893S 87% 90 88 130 §120 120 *124 F riday A u g . 13 Sales of the Week Shares „ ___ __ ____ *225 2.000 15% 16*? 157s 54% 65 2,650 553s 86 88 225,700 89% 4S% 49 3,250 50 110 +102 110 4534 46% 40,475 47'., 90*2 40 96*2 *95 12% 13% 10,000 13% 84 85 85% 10,300 68*3 23,420 67 6938 122 12134 *121 600 74% 75 76 12,000 107 *102% 107 *231 239 239 300 9 9 2,760 9% 4958 50% 14,900 50 30 37% 23.540 3S78 17 *16*4 ____ 1,100 44 44 44*^4 2,000 66% 67*4 20,800 68*2 121*3 120 120=8 700 9% 9*2 10% 1,260 54 54 55*4 3,140 00 89% 90 3,900 1047s 102% 104% 167,400 110*8 110*4 115*4 3,000 300 *250 300 110 *101 110 5934 60 61 3,115 1343s 133 133% 11,500 127 12512 1+60 1,000 142*2 141% 142% 23,045 10134 101*2 10134 6,600 38 39 39 3,800 105*4 105 105 1.900 4934 60% 24.720 51 *10734 * 1 0 7 * 2 ____ *107% 47g 478 5% 5 2,900 3234 7,800 32 3234 33*2 64% 65 65*2 6534 2,200 147*4 1493s 147 147 2,300 *17 19% *17*2 19 135 *30*4 32 31 32 1,085 30% 37% 30,800 363s 37*8 109 109 108*2 109 1,800 45 46 40% 47*8 20.500 70 70% 72 71 10.200 1465s 148*4 146*2 148 52,165 24 245s 24 243, 11.315 88% 8 8 % 2,100 89 89*2 *56 *50 60 60 38% 381? 38*2 39 4,810 84 88 88*4 §84 308 93 93 93% 93 1.725 *225 16 15*2 55155 873s 8834 49*4 49*2 110 +102 4 731 4534 96*o *95 1234 125S 83 84 68*3 69 12134 123 75 76 107 +102*2 235 *232 9*s 9*s 49*2 50*8 387, 37*2 10% *10 44 44% 68 67 12012 121% 10% 10*s 54^4 55*4 893$ 90 104*3 103*2 11534 116 300 *250 110 *101 61 60 133*2 133*2 120 *125 142*2 14 134 1015S 101*2 38*4 39*4 10578 105*8 50*4 51 5_ 33*2 6534 147 17*2 31% 36*s 109 47% 715, 14634 24% 8834 60 3934 88 94 171*4 100 893, 121% 7 22*2 17*4 6833 41 88*4 84% 75 108 16*2 89*4 92*2 113*4 3^4 96*2 142% 8578 32 11534 16 54% 6334 1113,! 200 533 6*2 62 109 387, 10034 87 119 41% 93 14 78 1107, 3438 85 95 83*? 10*2 39 40% 11738 86 78*8 126% 63*4 51*4 125 07 __ 76*4 8S*.| 130 *90 98% *90 98% 171*2 17234 171 1713S 106 106 *103 107 8958 8978 89*4 89% 121 121% 121% 121% *653 7*4 0% 6% 23 23*4 *21% 22% 10^4 17% *17 17*2 68% 67*8 68 68*4 40 40 40% 40% 8734 87(3 88 88*3 83 *83 84% 83 574*2 74% 74% 746, 106*2 106*2 106% 106*2 *126*8------- ♦ lUbig 1634 1634 16*2 17 89% 92 89'% 893,, 92% 94 02*4 9234 lid 1133.J 113 113 «J*2 4 3*2 312 9578 95% *96 97 *142 142% +141 142 85% 85*2 85*2 S6=s 3l7g 32*2 32 32*2 11534 117*2 11658 119 1434 15% 16 16% §54 64 §52 52 51 52% 51*2 53 110 110 §110% 110% 197 19934 *197 200 6 5*2 6 *5*2 *5*2 612 *5*2 6*2 50 61 51*2 52% 108 108 *108 109 3833 39 38*2 39% 10678 107 107 109 8634 80 87*2 8734 *119 120 *119 120 393S 41 39% 39% *90 01 *90 91 1334 14 1334 14*2 79*2 79*2 79*2 79*2 111*4 111*4 111% 111% *33 34% 33 33% 84 84 84 84 95 *89 *89 95 83% 83 83 83 153s 163, 10 16 39 39 39*2 39% 49 53 46*2 4834 1175s 11834 117% 118 85*2 87*4 87*2 88*2 77% 787g 76*% 7/34 125*2 126% 126*4 127 523.4 63*? 53 64*2 50% 51% 48*2 6034 123 123 *123 125 *64 *64 67 66 *310 ____ ♦315 7434 7434 7 5 74 8734 87*2 89 . 87 130 130 ♦ 120 130 Range since J e n . 1 1909 O', basis ot 10 o-share tots ST O C K S N E W Y O R K STOCK EXCHANGE A m e r ic a n B e e t S u g a r -----D o p r e f -----------------------A m e r ic a n C a n -----------------D o p r e f ...... ............ ............. A m e r ic a n Car & F o u n d r y D o p r e f ________________ A m e r ic a n C o tto n O il____ E x p r e s s . ____ A m e r ic a n I c e S e c u r it i e s . . A m e r ic a n L o c o m o tiv e ___ D o p r e f ________________ A m e r ic a n M a lt C o rp ____ A m cr S m e lte r s S e c pref B A m er S m e lt in g * R efin in g A m er S te e l F o u n d ( n e w ) . A m e r ic a n S u g a r R efin in g A m e r ic a n T e le p h & T e le g A m e r ic a n T o b a c (n c w ).p f A m e r ic a n W o o le n ________ D o p r e f _______________ ,f A o a c o n d a C o p p e r P a r ? 25 d B a to p lla s M in in g P a r $ 2 0 O e t h i e h e m S t e e l ________ D o p r e f _____________ Rro< ;ly n U n io n G a s . . . ' . / 'l e n t r a l L e a t h e r ________ Vv D o p r e f _____________ C o lo r a d o F u el & I r o n ____ Col & H o c k Coal & Iro n C o n so lid a te d G a s (N Y ) . C orn P r o d u c t s R e f in in g .. D o p r e f ________________ D is tille r s ’ S e c u r itie s Corp F e d e r a l M in in g & S m e lt ’g D o p r e f................................ 900 900 47,625 3,100 2.700 1,500 ■ 100 6,050 1,700 52.450 3,400 867 20.610 1.170 1.000 1,500 600 4,520 350 31,510 6,000 0,800 100 12,300 100 2,000 200 1,720 2,000 800 N a t E n a m e l’g & S t a m p ’g D o p r e f ................................ N a t io n a l L e a d -----------------D o p r e f _____________ _ N e w h o u s e M & S . P a r ?10 N e w Y o r k Air B r a k e ____ N Y & N J T e l e p h o n e .. N o r th A m e r ic a n C o, new P a c i f i c M a ll........................... I e o p le ’s G L & O (Chic) P itt s b u r g h Coal C o _____ D o p r e f ............................. P r e sse d S te e l C a r........... .. D o p r e f ................................ P u llm a n C o m p a n y _______ Q u ic k s ilv e r M in in g _______ D o p r e f . .............................. p a l l w a y S te e l S p r i n g . . . i l D o p r e f _____ R e p u b lic I r o n & S t e e l . . . D o p r e f . . _____ _______ O lo s s -S h c ff le k l S te e l & Ir O D o p r e f ____________ U T en n e sse c C o p p e r P a r t 25 T e x a s P a c ific L a n d T r u st 1 [ n lo n B a g & P a p e r ____ U D o p r e f________ . . U n ite d D r y G o o d s p( c tf s U S C a st I P ip e & F o u n d r D o p r e f ______ _______ U n ite d S t a t e s E x p r e s s .. U S R e a lty & I m p r o v e m ’t U S R e d u c tio n & R efin 'g D o p r e f ________________ U n ite d S t a t e s R u b b e r ___ D o 1 st p r e f ____________ D o 2d p r e f ____________ U n ite d S t a t e s S t e e l _____ D o p r e f -----------------------d U ta h C o p p e r . . . Par $ 1 0 V lr g ln la -C a r o lln a C h e m .. D o p r e f ................................ V ir g in ia Iro n C oal & C ok e \ i l e l l s F a r g o * C o _____ V V e s te r n U n io n T e l e g . . W e s tln g h ’se E l& M fg a ssen D o 1 s t p r e f ........................ 3,125 21.480 122 i.owest Highest 164 J a n §200 A u g 20 §19934 M a y (i 167s A u g 3 163,3 D e e 24 5 Alci, 673s A u g 3 523.1 D e o 14 Me 24 89*3 A u g 12 88% N o v 45*8 F e b 26 50 A u g 1^ 35 N o v 13 .ian j 90 N o v 78% J a n 18 103 A u g ;> 24% A p r 49% A u g 2 9*2 F eb 13 81*4 D e c 66 J an 1 97% a n o i l 14% M ay 21 10*4 N o v 4 Feb 23 86 J ’n e 4 76% N o v 44 J a n 23 50*4 D e c 70% A u g 4 251, F eb 24 109 D e c 84% Mel 23 12 434 A u g 3 44*4 N o v 77*2 A u g 9 V434 F e b 5 97 N o v (8 0 J a n 7 I06*i M ay 11 170 F e b 4224 M ay 5 231*2 A u g 9 9<s A u g 3 8*2 D e c 234 F e b 25 3734 D e c 5178 A u g 3 12% Mel: 24 31% A u g 42% A p r 13 12*o F e b 3 20 J ’n e 14 17*2 D e c 0 M ch 25 4734 J ’ne 14 30*4 D e c 17 M< 12 59% A u g 31'% F e b 69% A u g 4 23 113 D e o 86% J a n 24 122 A u g 4 11% j u e 1 8% S e p : Mch 16 6 13 S e p 58*" J n e 3 21 J a n 84*3 A u g 9-) A u g 13 70 J a n 80 J a n 4 107 A u g 65*2 F e b 7734 F e b 24 104% A u g 12 110*3 A u g 873.1 F e b 101 J a n 2 11634 A u g 6 280 A u g 6 ISO A u g 200 A p r 97*2 S e p 80 Me 9 5 Mcli 1 105 M a y 2 2 41 N o v 63% A u g 7 28 S e p 347s F e b 24 13/3.1 A ug US3j Ja il 121 J ’n e 17 130 A p r 3 131 N o v 103 F e b 120 J ’n e 16 131 A p r 8 13238 N o v 101 J a n 126 F e b 1 1433s A u g 2 97% J ’ly 72% J a n 90*2 F e b 6 104 M a y 10 $$ D e c 151? F e b 20 F e b 1 397s A u g l> 97 N o v 78% F eb 033j J a n o 10/34 J ' n e l4 531? N o v ?3734 F e b 26 $52 M a y 8 $27*-> F e b 105 A p r 2 \0 i*a F e b 17 101*2 F e b 19 $61? J ’n c 3 0 $5 Mch $278 J a n 29 82% J a n 34*2 A u g 9 27*4 N o v iS34 M ch y 07 A u g 9 £7 N o v 47 F e b 24 35 A pr 162*4 N o v 118 J a n 28 149*8 A u g 12 2034 J n o l2 17 N o v 13 J a n 13 6 Jan 34% M a y 17 §25 J a il 2378 J a n 2 §10 F e b 37% A u g 13 33 D e c 25*2 M ch 2 102 D e e 9U34 A p r 6 111) A u g 4 4838 A u g 3 42 D e c 29 F e ll 23 73% A u g 6 27*" D e e 14’*4 Mch 213S F e b 23 167 D e c 96 J a n 114*2 F e b 4 106% J a u 4 20*2 J ’n e 2 20% AUg 1034 F e b 16% F e b 21 03*2 J ’n e 1 80 A u g 60 J a n 73*4 F e b 24 til May 25 4S% O ct 47% O ct 41% J a n 25 ?834 D e o 27% F e b 32*2 F e b 23 95*2 M ay 11 94 A u g 72% N o v 66 M ch 2 04 A u g 11 89 N o v 69 F e b 80 F e b 24 081" J ’no §51 J ’ly 12 55 J ’ly 95 A u g 3 100 J ’ly 731" F e b 1623. D e o i l l “ Jan 150*8 F e b 23 17234 A u g 12 109*2 J ’ly 7834 J a n 91 M ch 12 l i u Juu 4 076s N o v 8978 A u g 12 62 J ’ne 62 J a n 30 110*4 N o v 99 J ’ne 109% J a n 16 123 J u e 3 0 May 0 Jan 2 6 O ct 63» J ’ly u 26% D e c •27% Jar. 2 16 F e b 1834 J ’ly 9 13% N ov 17% A u g 3 8 A pr 9*2 M ch 13 6934 A u g 3 05 J a n 47 O ct 4734 M ch 18 42-)_i M a y l2 39% D e c 13 J a n 331o F e b 25 84% D e c 90 J ’ly 10 65 J a n 8 2 i2 J a n 30 78 N o v 84*2 A u g 4 62 F e b 70 J a n 21 71*4 N ov 75% J ’n e 10 5978 F eb 97 D e c 68 J a n 96% J a n 2 108% J a u 10 120*2 D ec 127 A u g 4 1834 J ’n o 8 15% D e c 12S3 F e b 24 7*" F e b 92 J ’n e 12 rS2% D e c •'70 F e b 94 A u g 13 92 A u g 71% F e b 26 36 F e b 100*4 N o v 10234 A p r 21 113*4 A u g 12 87*2 J a n $0 J a n 2 $9% J a u $438 O ct $ 1% J ’n e 24 97 A u g 10 98 N o v 89 F e b 23 50 J a n 14210 A u g 3 122 N o v §113 J a n 90 F e b 87% J no 14 78 N o v 72 J a n 13 42% Mch 3034 J a n H 40*4 D e c 106*2 D e c 101% J a n 13 119 A u g 13 1738 A u g 3 10 A p r 21 14SS D e o 8% Mch £U34 A u g 6 60 D e o 40 F e b 25 50 A u g 3 45 D eo 30*2 F e b 23 17% F e b 102% D e o 90 F e b 20 |1134 A u g 11 60 J a n 174 N o v 109 J a n 30 200 A u g 0 147 J a n 13j D e c 938 J ’ly 6 16s J a n 4 *2 A pr 3lo D e c 10 M ay *3 3 M ch 29 1*2 J a n 54% A u g 4 49>j D e c 23*4 F e b 321+ M ch 8 103 D e c 75 J a n 97% F e b 21 IU9 A u g 11 20 N o v 1434 F e b 10% F e b 23 t397s A u g 1 03 J ’ne 80*2 N o v 67>s F e b 24 110*4 J ’ly '2 8 81*4 N o v 88*3 A u g 7 36- J a n 68 F e b 23 110*4 D e c 87*2 J a n 1073s F e b 20 119 A u g 11 $62% N o v $25% F e b S343| F e b 26 S49 J a u 4 93% J ’ly 10 45 F e b 80*2 F e b 23 1633 J ’n e 18 9% N o v 4 Feb 0*4 F e b 24 8 U4 J ’n e 29 447s J a n 66 -Jan 8 11134 A u g 0 110*4 J ’ne2 1 307$ D e c 35% J ’no 0 17*2 F e b 243S F e b 24 78% A u g 66% J a n 87% J ’n e 16 70 M ch 2 90 j a u 70 F e b 82 F e b 10 §99 A p r 30 851? M a y l7 64 N o v 36*4 F e b 64 F e b 23 17% J ’n e 17 4 Feb 15*4 A u g 10 M ch 12 10 F e b 39*2 A u g 12 39 A u g 24 F e b 24 53 A u g 13 I734 F e b 37% A u g 27 F e b 24 70 F e b 108 D e c 08 J a n 29 119 A u g 3 88*2 A u g 13 42 F e b 76% N o v 67*2 F e b 25 2534 J a n 683.1 N o v 78% A u g 12 41*4 F e b 23 1143s N o v 87*2 J a n 107 F e b 23 12 938 A u g 4 ^20 J a n $52«>4 N o v $39% F e b 2., 564*2 A u g 12 16 F e b 56*4 J m 14 D ec 407s F e b 24 *87 J a n 115 N o v 114 J a n 19 123 J ’n e 2 8 43 J a n 07 J ’ly 19 68 N o v 67 F e b 23 325 N o v 300 J a n 6 330 M ay28 §260 1<cb 41 F e b 78*? M ay 7 7134 N ov 64 F e b 24 00 A u g 7 38 Mch y4 N o v 74 F e b 24 5N M rh 125 N o v l i ( ) M rh 3 130 A u g 12 62 General" E l e c t r i c . . . ........... __ Range io j Previous Year (1008) J90 J a n 123j F e b 38 F eb 65 F e b 33% J a n 95*2 J a n 20% J a n 82 J i n 7*2 F e b 71*2 F e b 44% F e b 107*2 F eb 42*8 J a n 98 J a n §205 F e b 0*4 F e b 34 F e b 187r J a n 12 F e b 29 J a n 49 F o b 109*4 F e b 5% J ’ly 6,448 1,000 1.420 2,200 500 1,620 4.250 5.200 2,600 1.500 2,900 225 600 1,200 200 1.125 35,825 6.320 4,236 741.930 24,387 14,400 13,200 300 Highest Lowest in d u s lr ia l& A lis c e lla n e o u s A d a m s E x p r e s s -----------T illl.s - C h a lm c r s _________ D o p r e f— .............. A m a lg a m a te d C o p p e r — A m cr A g r ic u ltu r a l C h e m . A m e r ic a n [V ol . LXXX1X. ] n t H a r v e s te r s tk tr c tfs 1 D o pref s tk tr c t f s ___ I n t M er M arin e s tk tr c tfs D o p r e f -----------------------I n t e r n a t io n a l P a p e r _____ D o p r e f ____ ___________ I n t e r n a t S t e a m P u m p ___ D o p r e f ................... ............. M a c k a y C o m p a n ie s _____ D o p r e f -----------------------\ [ a t i o n a l B i s c u it .............. 1 .BANKS AND TRUST COMPANIES—'BANK Ellri’ QUOTATIONS. Banks Bid Ask B ro o klyn Banks B rooklyn Eld B o r o u g h H. 90 106 N o r th S id e !! 180 410 B r o a d w a y . 1 0350 P e o p l e’s ____ 155 B r o o k ly n 1 145 P r o s p ’c t P k t 160 T erm inal 1| F i r s t ---------- 280 )30 H ills id e !,___ 110 U n io n ! ) ____ 00 125 H o m e B k l i . IIP 125 T rust C o’s H o m e s te a d ! 100 410 426 N Y C ity M a n u ia o ’rs 250 A stor _____ 340 M e c h a n ic s ’! 240 ____ B a n k ers' Tr 878 146 M on ta n k . . •-•70 B’w a y T r . . 145 N a s s a u ------ ?40 310 H a t C i t y ___ 290 * B id a n d a s k e d prices: n o 3ale3 o n t h is d a y . 1 S a le a t S t o c k E x c h a n g e or a t a u c t io n t h is __ Ask __ T r u s t C o’s Eld Ask N Y C ity C a r n e g ie . . 176 185 C e n tr a l T r . 6990 1025 C o lu m b ia . . 285 C o m m e rc ia l 145 148 ____ 155 C o m 'w e a lth E m p ir e . . . 300 310 E q u lt ’b le Tr 480 500 F a rm L o& 'l 1600 203 F id e lit y — 207 F ilt h A v Tr 400 420 F u l t o n ------- 270 I r u s t C o’s G u a r ’t y T r . Eld 690 f l6 4 170 335 250 165 3 /0 725 5*5 500 120 135 Ask 710 Eta 1 r u s t C o’ s N Y L lfe& T r 1090 V Y T r u s t . 010 S ta n d a r d Tr 360 T l t le G u * Tr 495 355 1275 U S M te &Tr 415 1220 V an N o r d e n 375 145 135 W in d so r . . 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P rice fiYirtav A v g u s t 13 3 (j* n« (luvri'iiinriii 30 30 D 0 S 8a r e g is t e r e d . lh lh 26 0 S 4 s c o u p o n ........................ 1* 26 U S P a n C an 10-30 y r 2s.A :li 3 t 0-. 0 -, o -l y -b u -l '^-F viQ-h b io 100*4 100*4 101 101 as 101 101 102 102 Weenfs Mange or L ast S a le Low Range Since January H igh L 0 l 4 J ’l y ’09 101 ld l 191 A u g ’O!' 101 A u g ’09 1 0 0 4 N o v '0 8 iV o 117 HO** 1 1 0 V 11 8 ......... .1 9 ii9 . 1 0 0 4 1 0 1 * - 101 M a r ’09 L ow Jlig . 10i 4 1 0 2 ' 101 l o t 101 103^} 1 0 0 h 102 ii6 4 iio 1 19 121 101 1014 F o r e ig n l io v e r f i m e n t 0 9 M-b * a S M S a lb S t e r l i n g loan 4 4 a -. 2 d a e r ie s 4 4 s ----S t e r lin g lo a n 4 s . . 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J J 1 0 8 88 89 M-N 93*4 Sale 1 M-N 9U34 91 uJ J H-J 9 FA C Al-S A-O c J - l' G e n e r a l g o ld 6 s .......... , A-O P i t t s C le v <te T o i 1 s t g * „ ____V A O P i t t s * W e s t 1 s t g 4 s . . . 191 , J - J S t a t I s l B y 1 s t g u g 4 4 s 194 J L B e e c h Creek, bee N i c * n B e lle v * Cur bee U lln c l L B u llalu N Y * E r ie bee E rie B u ffalo B * P g e n g 6 s . . . 193 , W-b C o n so l 4 4 s ..........................1 9 6 M-N A l l * W e s t l e t g 4 s g u . . i 9 9 - A-O J -J C l * M ali l a t g u g 6 s ___ 194 ] F-A .J -D B u ffalo * S o u t h w e s t bee Kri Buff * s u a a 1 s t rer g 4 s .a l 9 6 J - J B u r c It * N bee C B 1 * P f m u S o 1 s t e x t O s ................1 9 1; J -J U 2 d 6 s ........................................l y i ; »I-S B e g i s ie r e d ..........................l y i , Jarb * S h a w n bee 111 C en t S a rolin u c o n i A e e S e a b A ir L J a r tlia g e * A d bee N y c * [Jed It l a b * N bee B c it * Den B r a n c n B y bee M o P ao F-A M-h B e g is t e r e d .........................l o i . 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N a s s a u E le c g u tr 4 s . . ..1 9 6 , C on n B y * L 1 s t * rot g 4 4 s ‘5; S ta m p e d g u a r 4 4 s ......... 1951 D e n C on T r C o 1 s t g 6 s . . . 193. D e t U m te d 1 s t c o n g 4 4 s . 193' H a v a n a K le e c o n s o l u 6 s . 196 I n te r -M e t c o ll 4 4 s ..............19. I n t e r B a p T 3 .y t c o n v Os. 191 I n t e r u a t T r a c c o lt tr 4 s . .1 9 4 . M a n ila K lee 1 s t & c o ll 6 f -a w J j .j J J A-O J -J F A A-O /IN J •J .i S ...........1 0 6 4 8 7 b a le 103 1 0 3 4 90 99 4 1034104 ...................... .......... 87 87»* 8 8 81 83 l o a ^ .......... 3 3»0 8 5 80 9-2 8',7a s a le 101>4 Sa3 ........... V i ■, OO'V J ’l y ’0 9 . . b7 .-37*4 2 03*8 J ’l y ’09 . . 9 9 4 M«u ’09 . 03 4 1034 0 1 A u g ’0 9 . . 87% J ’ly ’OH 87*4 87*4 82*4 J ’ly *'-9 . . 0 2 J ’l y ’0 9 .. 0 2 14 J ’ly ’0!' . . 9 6 J ’n e ’OO . 8 2 J ’l y ’0 9 . . 9 2 A u g ’O .. 80% 8 4 '. 11 04 10 4 4 7 1 4 J ’l y ’ol* . 98 v, , ’01 i i l f Mt>.> N . Y . 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N 105 . 1U4:,4 J ’ly Ml; *-611 t o t N J g o n 'l g o ld 5 h .1 9 8 7 J - J 12? 12 7 34 127 i.7 B e g i b ie r e d ...................../tl9 8 7 1 2 6 4 ........ 127 J ’ ly MlA m D o o r * im p c n 5 s . . 1921 ....... 110 110 J ’ly M9 i ! i &, ilu , ,U i g e n g u g 5 s 1 9 2 u j . j 101 ___ ___ K eh * W ilk s B C o a l 5 s . . 191 j vi-rv 1 0 0 101 J ’ neM! t:on e x t g u a r 4 4 s ___ yl'O lo o -.v 100*b ____ 1 0 0 3# 100'*, bt \ & L o n g B r g e n g 4 s 1941 m - s IcO ____ ^ e tlL i>uct,lc &° P a c ific Co C e n t V e r m o n t 1 s t g u 9 4 e ei'J 2 u Q -F 894 894 8 9 34 SaR C h a s * b a v bee A t l C o a st L in e C u es * O h io g o ld Os...........a l y i l A O 10 1 4 . . . . . 1 02 4 A ngM 9 1 s t c o n s o l g 5 s .....................1 9 3 9 M-N 11 4 1 1 4 1 1 4 4 J ’ly B e g is t e r e d ..................... 1 9 3 9 M-N 114 4 r'euMo G e n f u n d i n g * im p t 5 s .l i> 2 9 i o l 4 S a le 0 1 4 1014 G e n e r a l g o ld 4 4 s ...............1 9 9 2 1 0 4 l o t *v 104 lU4*v B e g i s t e r e d .........................1 9 9 2 1 0 3 104 105 A pr'O t B n S a n d y 1 s t 4 s .............. 1941 J -D 8 b 4 h‘J 4 eS-*C r a ig V a lle y 1 s t g 5 s . . . . l 9 4 u J .......... i 13 no ila y v ; P o t ts C reek B r 1 st 4 s . . 1949 J y o JuuM t* B Oc A D iv 1 s t c o n g 4 a .. 1 9 8 9 J .J ........... 99 9 9 J ’ly Ml) 2 d c o n s o l g 4 s ...................19 8 9 J -J ........... 97 9 6 4 A p r ’i/9 H a r m 8 pr V a l 1 s t g 5 s . . 1941 M-S 10 7 4 ........ 1 1 3 4 e c u On 93 96 4 95 " G r e e n b r ie r B y l s t g u g l s ’40 M-N C h ic * A l t l t B r e t g 3 s . . . 1 9 4 9 -VO 7 7 4 7 7 s 7 7 \ J 'n e ’o 16 4 s a le M aH w ay 1 s t lie n 3 4 a . . . I 9 6 0 J - J 76 4 R e g is te r e d ..........................l9 5 o J - J 7 3 F eb M n C h ic B u rl * (4 — D e n y D 4 s 1 9 2 2 F-A 994 0 9 3, 9 9 7a 3ait5 994 lo o G e n e r a l 4 s ......................... 1958 M -S I ll in o is U i v 3 4 s ................. 1 9 4 9 J 90 9 0 S 90 90 . ri R e g is t e r e d ......................... 194* J 9 13* L e c M b I ll s D lv 4 S ............................ 1949 J . 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Range S in c e J a n v .a r g 1 Low H ig h E r ie — <Con) N Y S u s * W 1 st ref 5 s . 1937 2 d g o ld 4 V s ....................... 1 9 3 7 111 111 G e n e r a l g o ld 5 s ............... 19 4 u 103 105 T e r m in a l 1 s t g o ld 5 s . ..1 9 4 3 R e g is $ 5 ,0 0 0 e a c h . . .1 9 4 3 M id R R o f N J i s t g G s . 1 9 1 0 128V 130V W i l k * E a 1 s t g u g 5 s . 19 4 2 E v * lu d 1 s t c o n g u g 6 s . . l 9 2 0 l2 8 V 129 V 12 9 V 129 V E r ie * P i t t s See P e n n Co E v a n s & T H 1 s t c o n s Os. 1921 115 V 119 1 s t g e n e r a l g o ld 5 s ...........1 9 4 2 112 112 V M t V e r n o n 1 s t g o ld 6 s . . 1 9 2 3 9 4 V 98 S u it Co B r a n c h 1 s t g 5 s . 1 9 3 0 I C argo * S o See Oh M * S t I ’ 1 l i n t * P e r e M See P e r e M ar 9 5 109 V P la C * P e n in See S e a A ir L in e P o r t S t U D C o 1 s t g 4 V S .1 9 4 1 P t W & D e n C 1 s t g 6 s ___ 1921 9 6 V 9 6 V P t W * R io G r 1 s t g 4 s . . . 1 9 2 8 i ' a l H a r * S A See S o P a c Co t T a l H & H of 1882 1 st 5 s .1913 G e o r g ia * A la See S e a A Lim G a C ar * N o r See S e a A L in e 97 V 9 8 V G e o r g ia P a c ific See S o R y G ila V G & N o r See S o P a c Co 9 4 V 97 94 95 G o u v * O s w e g a t See N Y C en t 9 5 V 9 7 V G ra n d R a p * In d see P e n n RR G r a y ’s P t T e r m See S t L S W G t N o r —C B * Q c o ll tr 4 s 1921 K e g is te r e d . h , ......................1921 106 106 G r e e n b r ie r R y See d i e s * O 9 8 V 98V G u ll* S 1 1 st ror& t g 5 s 61952 an & S t J o See C B * Q 98 98 V o u s a t o n ie S e e N Y N H * B 109 V 109 V 111 V 111 V H o c k V a i l s t c o n s o l g 4 V s . l 9 9 9 R e g i s t e r e d ..............................1999 C oi * H V 1 s t e x t g 4 s . . 1948 C ol & T o l 1 s t e x 4 s .........1 9 5 5 H o u s t E & W T e x See S o P a c H o u s t & T e x C e n See S o P a c Co l lin o is C e n tr a l 1 s t g 4 s . .1 9 5 1 92 V 9 6 V R e g is t e r e d ......................... 1951 40 60 V 1 s t r e f 4 s ................................1965 1 s t g o ld 3 V »......................... 1951 R e g is t e r e d .............. ; ____1051 80 87 V E x t e n d e d 1 s t g 3 V s .........1951 97 V 9 9 1 s t g o ld 3 s s t e r l in g ...........1951 96V 1U 0V C o ll T r u s t g o ld 4 s ............ 195 2 R e g i s t e r e d ......................... 195 2 L M O * T e x g o ld 4 s . .. 1 9 5 3 R e g is t e r e d ......................... 195 3 C a iro B r id g e g o ld 4 s ___ 196 0 D o u is v D iv & T e r m g 3 V s. 19 5 3 95 96 M id d le D iv r e g 5 s .............1921 O m a h a D i v 1 s t g 3 s .........1961 S t L o u is D i v * t e r m g 3 s . 1951 R e g is t e r e d ......................... 1 0 6 I 113V 114V G o ld 3 V s .......................... 1051 1 1 6 V 117 V R e g is t e r e d ..................... 1051 S p r in g D iv 1 s t g 3 V S ...1 0 5 1 93V '9 6 V W e s te r n L in e s 1 s t g 4 s . .1 0 5 1 119 121 B e l le v * C ar 1 s t 6 s .........1 9 2 3 110 V 112 V G arb * S h a w 1 s t g 4 s . ..1 0 3 2 99 V 100 V O hio S t L * N O g 5 8 ...1 0 5 1 R e g is t e r e d ......................... 1051 120 * i ‘22* G o ld 3 V s ............................. 1051 M e in p li D i v 1 s t g 4 s . ..1 0 5 1 101 1 0 3 S t L S o u 1 s t g u g 4 s ___ 1031 100 1 0 7 V 1 0 1 V 103 V fn d B1 * W e s t See C 0 C & S t L 97 107 28V 1 2 8 v J -D M-N A-O J -J F-A M-S J -D F-A J -D F-A M-N A -0 A-O A-O J -J V-P A -0 M-N 96 98 V 103 106 1 0 IV 103 V 92V 96 V 78 80 95 83 100V 87 80 82 U 1 V 116 i 18 M a y ’09 119 8 8 S e p ’08 1.03 V A u g ’09 103V 104 100 J ’l y ’08 100 v i o l .......... 9 4 V 81 V J ’ly ’09 p r ic e P n d a y ; l a t e s t Did a n d a s k e d t h is w e e k , a D u e J a u 3 d g o ld 4 s ..............................1021 I o w a C e n tr a l 1 s t g o ld 5s. G o ld 4 s ....................................1051 a i A * G R see L b * 11 a n & M ic h See T o l * O O K O P t S * M See S t L * S P K G * M R * B see S t L * S P A a n C * P a c itlo See M K * T K an C ity S o u 1 s t g o ld 3 s . .1 0 5 0 R e g is te r e d .......................... i o 5 o l i e ! * im p t 5 s (w 1) A p r 1950 K e n tu c k y c e n t see L * N K eo k * u e a M o See O R I * P K n o x v ille & O hio See S o R y j a k o E r i e * W 1 s t g 5 s . . 19 3 7 l o 2 d g o ld o s ..........................1041 N o r t h O h io 1 s t g u g 5 s . .1 0 4 5 L S h o * M ic h S See N Y C ent 110V 1 1 0 V F-A F-A V 106V V 104 V 10Y V 97 V 126 V 124 91 V 86 V 80 76 V 9*6* 63 Hyi. 57 V 80 115 116 U 5V 117V 126" U 2V 106 108 P28 V 120 110 108 Wee/c's R a n g e or L a st S ale A su Lout 3^ Range Since ■s -C /a n u a r y 1 H igh No Low H ig h , 106 1063s 105 V M ay 0 9 90 114 90 90 S a le .......... 114 V D e c ’0 8 M-N A -0 J-1) J -J 100 .......... 101 V M ay’09 1 0 4 V 1 0 6 V 104 V A u g ’09 114 .......... 114 J ’l y ’09 J -J A -0 115 .......... 1 15 V J ’l y ’09 103 V S a le 1 0 3 V 1 0 3 V 108 . 105 V 107 V 1 90 92 1 0 I V 102 V 101 1 0 5 V 109 V 1 15 112 5 103 115V 104 V A -0 j -j J -D J -J 8 4 V .......... 105 M ar’98 115 V S a le 115 V H 5 V 8 6 J ’l y '09 .......... 8 7 J -J Q-J 9 8 V Sa le j -j .......... j .j 106 A-O P-A 07 99 98 V 98 V 198 97V A u g ’09 97V 97 V 99V 99 9 7 V J V y ’09 . . . . 97 97 V 97 A -0 96V Rale 9 8 V 100 99 99 V 106 J ’l y ’09 — 106 104 A -0 M-S A -0 A -0 M-N M-N J -D J -J 9 3 V M a y ’Ou 8 0 J ’l y ’0 9 102 V .......... 102 V 1 0 2 V 99 J ’U0'09 101 J ’l y ’09 100V 101 97 M ny'07 .......... l o o v loO A p r ’09 .......... 8 a V 8 9 V J 'u e '0 9 F-A 7 9 A p r ’0 9 7 9 V D e c ’08 J -J M-N M-S M-S J -D M-S 6 (0 4 .......... 104 A p r 09 107 S A p r ’07 99V 99V 93 J ’ly ’09 9 9 V Side 93 V 94 109 98 V 98V 97 99 V 9 8 V M ay’09 99 V F e ll’09 . . . . J -J J -J M-N J -J 8 8 V 89 J -J J - J * . ........ 8 8 V J -J F-A 9 9 V ......... J -D 1 1 9 .......... M-S ..........l o o J -D 119 V .......... J -D 117 ........ 90 93 J -D J -D 9 9 V .......... M-S 3 1 1 4 V 1 17 V 85 88 L 03V 104 ..... ...... 9 9 V 1 0 IV 92 V 9 4 V lo 93 V 80 1 100 V 09 99 _ 94V 80 102 V 99 1 0 IV 99 V 100 8 9 V 02 79 70 ....................... 9 0 v D e c ’0 8 ..................... .. (0 1 V G o t ’99 ..... ...... 1 0 0 X o v ’OO io o v lo o v 100V M ay’09 (2 1 121 12 L F e b ’09 98 98 9 8 M a r’0 9 11 8 V 120 119V A u g ’09 1 1 8 V 119 H b V J ’n e ’09 90 9 0 F e b '09 ___ 9 0 100 M a r’Os . . . . ....................... 9 8 j ’l y ’08 ....................... 06 98 V 98 9 9 V 9 8 J ’l y ’09 109 112 109 V H O V 109 V A u g ’09 85 103 V 1 0 1 .......... l u o v A u g ’0 9 48 60 .......... 4 7 V 4 8 J ’n e ’o 9 l05 V A u g ’09 . . . . L0i> ‘*2 1 1 l '4 .......... 106 77 82 77 77 V 77 V 77 V K A-O .... 74V 75 100 V s a le 74 V 100 V M-S A -0 A -0 D eli * H u d R see C e n t of N J D e l i * W ilk e s b .See C e n t o f N J l.ieroy & C a u e y V ai Set D o u g D o c k See E r ie D o n g I s l ’d—1 s t c o n g 5 s ./ il 0 3 1 v - j 1 s t c o n s o l g o ld 4 s ...........711931 O-J J -D M-S J -D M-S J -D M- S M-S M-S A-O M-S N Y & R B 1 s t g 5 s .........102 N o r S h B I s t c o n g g u 6 s o l 0 3 ' Q -J M-S 75 V 17 1 9 0 V 16( 71V 75V 100V 101 JV y ’08 107V J V y ’09 112 V 115 i". 107 109 V 112V 114V 107 V .......... 107 V A u g ’01 107 iu 7 V 108 u c l ’08 9 7 V 9 7 V 97 V J ’l y ’09i L15 V J V y ’09 109 V G et ’98 109 J ’l y ’08 97 97 9 7 S a le L06V 108V ..... . . . .. . 87 98 (1 6 V l l 8 V ...... ...... l0 9 109 97 6 96 102 V .......... 113 V J a u ’Of 1 0 1 V .......... 105 V J a u ’91 ..................... 1 1 4 V 1 1 4 V 115 J-J J - J 107 .......... 107 A-O • 1 1 3 V .......... 113 D ell V T o r R y 1 s t g u g 5 s ! 1041 A -0 10 1 1 2 V 115 105 104 106 97 122 122 85 86 69 R rtce h Y id a v A u g u s t 13 Hid j -j J -J 112 ........... 0 8 la .......... 0 / y8 0 8 .......... 1 0 1 .......... 97 96V 98 1 0 5 V .......... 0 1 14 0 a A4 112 112 '*9*7* v j ’i y ’oO . . . . 100 V A p r ’o 9U o c i ’ou . . 9 6 A u g '09 104 V Doe'Ob 6 9bV 9a V ........... .............. . . . i ’o i .......... l o l ° 8 D cc'O e . . . . 1 0 6 . . . . . . 1 1 0 V N o v ’OU 105 A p r ’o 1 103 108 1 0 2 V .......... 100 N o v ’Uu . . . . i 96 96 9 6 Sa le no 112 b o ” 07 V (OU V 1 0 0 'j •................... .. 96 97 ........ . .......... 97 99 V .......... . . . . . . ....................... •..................... ...... ...... ...... ...... 96 00 B O N O S —C o n tin u e d on N e x t P a g e . 6 n s a n d E l e c t r i c L ig h t M Y G E L l l & P g o s . . .1 9 4 8 P u r c h a s o m o n e y g 4 s . . .1 9 4 9 E d E l 111 1 s t c o n v g 5 s . .1 9 1 0 74 1 s t c o n s o l g o ld 5 s ......... 1905 102 V N Y * Q E l L & P 1 s t c o n g 5 s l9 3 U N Y * R ic h G a s 1 s t g 6 s . 1021 P a t & P£W G * E c o n g 6 s . 1040 **84*' p e o G a s * C 1 s t c o n g 6 s . 1 0 4 3 R efu nd in g g o ld 5 s ............104 7 155D C l i G - L * C k e 1 s t g u g 5 s 1937 I n d N a t G a s * O il 30-yr 5 s ’36 i'0'5 " C ou G C o o l Ch l s t g u g 6 s . ’36 1 0U j l u P u e l G a s 1 s t g u g 5 s . 1047 S y ra c u s e L ig h t in g l s t g o s . ’51 no n s" T r e n to n G * E l 1 s t g o s . . 1 9 4 9 U u io u E le c L & P l s t g o s . 1932 — ib*2V 106 100 1 0 1 v U t ic a PR L & P I s t s t g o s . I9 6 0 0 1 V 9 2 V W e s tc h e s t e r L ig h t ’a g 5 s . 1959 i> D u e n o n 4 U u o a p t e D u o M ay A D u e j ’ly k i *■07 V 107 V 1 0 7 V i » 7 V j ’i y ’oo 00 7 3 J V y ’09 66 70 "*‘i 100 V 101 101 Sa le 101 9 5 V S e p ’08 10 0 102 0 6 M a r’Oa 6 1 V O ct ’01 .SO '*8*3** *8*3 V 8 3 V A u g ’0 9 IS *00 155 155 Sale 1 5 5 107 V D e o ’00 .......... 101 1*05 101V 1 0 5 V 105 J ’l y ’08 100 96 .......... 100 M a y ’09 117 'O C So £ H iU1S*CEL1. i .VNEOU s U a > a m i E le c tr ic L ig h t A tla n ta G L C o l s t g 5 s . . .1 0 4 7 D k ly u U G as 1 s t c o n g 5 s . 1 0 4 6 Burtaio G as 1 s t g 5 s ...........1 0 4 7 D e tr o it C ity G a s g 5 s ...........102 3 D e l G a s Co c o n 1 s t g 6 s .. .1 9 1 b Eq G L N Y 1 s t c o n g 6 s . .1 9 3 2 G as * E le c B e r g Co c g 5 s . 1 9 4 9 G en E le c tr ic d e b g 3 V S ..1 9 4 2 10 -yr g d e b 5 s ....................... 1917 Gr R ap G L Co 1 s t g 6 s . . .1 9 1 5 H u d s o n Co G a s 1 s t g 5 s . . 19 4 9 K an C ity (M o l G a s 1 s t g 5 s 19 2 2 K in g s C o Pit L * P g 5 s . ..1 9 3 7 P u r c h a s e m o n e y 6 s ...........1.997 E d E l l l D k n 1 s t c o n g 4 s 19 3 9 L ac G a s L o l S t L 1 s t g 5 s .s i 9 1 9 H er a n d e x t 1 s t g 5 s .........19 3 4 M ilw a u k e e G a s L 1 s t 4 s . .1 9 2 7 BONUS N . Y . ST O C K E X C H A N G E WfcKK e n d in o A u g u s t 13 108 22 1 0 0 V 1 0 4 V 103 V S a le 103 V 86 V 8 6 V 12 83>4 86 V 8 0 V 87 1 0 U V 1 0 0 V lO O V J ’l y ’08 ___ 100 v 100 V i l l V J V y 'u p 110 1 12 1 1 1 V 112 9 8 V M a y ’08 97 9«V 07 V J ’l y ’09 9 7 V 97 V ...........1 0 0 10 4 V N u v ’Oa i2 0 V J ’n e ’08 il9 121 i i' o ' i a o 1 0 3 V J V y ’09 102V 1 0 3 V 103 V 101 1 lo 3 104V 104 V ba le 104 V 104 V 9 4 V A u g ’09 86V 94 V 9 3 V 94 L0 2 M a y ’ou 1 0 I V 103 1 0 2 V 103 101 V .......... i o i v J ’i y ’09 ... 10I V 1 0 IV 9 9 V 99 V 9 9 V .......... 9 9 v J ’n e ’OU L10 M ay’05 IUU ........... 86 J a n ’Ot ...................... 103 V .......... 102 V .Mar’09 — 102 -j i b a v j O p tio n 8a ie P rice F r id a y A u g u s t 13 S ia i j-j ) M-> J J -« ) A-< M-r 1 J-C M-r ) J -J ) M-5 I M-S M-N M-S J -J M-S J -. F-A J -J F-A F-A M-S N F la & 8 l a t g u g 6 s . ..1 9 3 L N A & CU See C I & L a h o n C oal See L 8 & M S a n h a t t a n R v c o n s o l 4 s . 199' M A-O A-O A-O M oK ’p t <fc B V See N V C en t M e x C e n t co n a g 4 s t r u s t r e c t 1 s t co n a Inc g 3a t r u s t r e c t 2 d c o n s in o g 3a t r u s t r e c ta . M e x I n t e r n a t 1 s t c o n g 4 a . 19 7 ' S ta m p e d g u a r a n t e e d ... .1 9 7 7 M e x N o r t h l a t go ld 6 a-----*" " M id i C e n t See N Y C e n t M id o f N J See E r ie M U L 8 & W See C h ic & N \Y M U * N o r t h See Ch M & S t P M in n cfc S t L l a t gold 7 s . .1 9 2 7 T a c ilto E x l a t g o ld 6 s . ..1 9 2 1 S o u th W e s t E x l a t g 7 a . 1 9 1 0 l a t c o n s o l g o ld 5 a ...............193 4 — — M-S M -S J D J -D A-O J -D M-N M-S J -J M in n <& 8 t L g u See 15 C H A N M S t P < f c S 8 M c o n g 4 i n t g u ’3fi J - J M S B M & A l a t g 4 in t g u 1 9 2 6 J - J M in n U n See S t P M <feJl M o K a n & T e x l a t g 4 s . ..1 9 9 0 J -D F -A l a t e x t g o ld 5 s ..................... 19 4 4 M-N l a t & r e fu n d 4 s ................... 2 0 0 4 M-S G en a f 4 >28....................... 1 9 3 6 J - J S t L D i v 1 s t r e f g 4 a . . ..2 0 0 1 A-O D a l <fc YVa 1 s t g u g 6 a . ..1 9 4 0 M-N K a n C «& P a c l a t g 4 a . . . 1 9 9 0 F-A M o K & E l a t g u g 6 s . ..1 9 4 2 A-O M K & O k l a t g u 5 a .........19 4 2 M-N M K <& T o f T l a t g u g 6 a . 19 4 2 M-S S h e r S li <fc S o 1 s t g u g 5 a . 1 9 4 3 J -D T e x & O k la l a t g u g 5 a . . . l 9 4 3 M -S M o P a c ilic 1 s t c o n g 6 a . . . 1 9 2 0 M-N T r u s t g o ld 6 s s t a m p e d .a l9 1 7 M-S R e g i s t e r e d ..................... a l 9 1 7 M-S 1 s t c o ll g o ld 0 s ..................... 1 9 2 0 F-A 4 0 -y e a r g o ld lo a n 4 a .........19 4 5 M-S 3 d 7a o x td a t 4% ................. 1 9 3 8 M-N C e n t D r R y 1 s t g u g 4 a . 1 9 1 9 l* -A C en B r a n c h IT P l a t g 4 a . 1 9 4 8 J -D L e r o y <fc C V A L i s t g 5 a 1 9 2 6 J J P a c ft of M o 1 s t e x g 4 s . 1 9 3 8 F-A 2 d e x te n d e d go ld 5 a . . .1 9 3 8 J - J S t L I r M & S g o u con g 5 s l9 3 1 A-O G e n c o n s ta m p g td g 6 a 19 3 1 A-O U n llie d <& r e f g o ld 4 s . .1 9 2 9 J - J l i l v ifc G D i v l a t g 4 a . . 1 9 3 3 M-N V e r d i V 1 ife \V 1 s t g o s . 1 9 2 6 M- 8 M ob J <& K C 1 s t co n a g 5 s . 1953 j - j M ob & O h io n e w g o ld 6 a ..1 9 2 7 J -D l a t e x t e n s io n g o ld 6 a . ./ i l 9 2 7 y - j G e n e r a l g o ld 4 a ................... 1 9 3 s M S M o n tg o m D i v l a t g 6 a . .1 9 4 7 F-A S t L A C airo coU g 4 a . .c l 0 3 0 y - F G u a r a n te e d g 4 a .............1931 J - j M A O coU 4a See S o u th e r n M oh aw k A M o l S e e if Y C A 11 M o n o n g a h e la K iv See D A O M ont C e n t See S t P A1 A M M organ ’s L a A T See S P Co M orris A E s s e x See D e l L A W ash C h at A S t L l a t 7 a .l9 1 3 j - j 1 s t c o n s o l g o ld 5a ...........1 9 2 8 A-O J a s p e r B r a n c h l a t g 6 a . .1 9 2 3 J -J M o i l M W A A 1 l a t 6 a . .1 9 1 7 J -J T A P B r a n c h l a t 6 a . . .. 1 9 1 7 J - J N a sh E lo r A S h e f See L A N N a t o f M e x p r io r U en 4 *2 8 .1 9 2 6 J - J l a t c o n s o l 4 a ......................... 1951 A.-O N a t I ly a o f M e x p r 1 4 h .a l9 5 7 J - J G u ar g e n 4 a .......................... 1 9 7 7 A O N e w 11 A D S e e N Y N 1 1 A H N J J u n e l i l t See N V C e n t N Y B k ln A M a n B e ll See L I N Y C e n t A 11 R iv g 3 *23.1997 J - J I to g is te r o d ................... 1997 J -J D e b e n g 4 a ................... " 1 9 3 4 Vl-N L a k e S lio r e c o ll g 3 *2a . . 1 9 9 8 F-A ito g is t e r o d ......... 1 9 9 8 F-A M id i C e n t c o U g 8 > 2 a .” ‘ l 9 9 8 F-A R e g is t e r e d ..................... 1 9 9 8 F-A B eech C reek l a t gu g 4 s ll9 3 6 J -J lte g la t e r e d ......................... 1 9 3 9 J -J 2 d g u g o ld 6 s ................... 1 9 3 9 J - J B e e c h Cr E x t l a t g 3 *28 51961 A-O C art A A d 1 s t g u g 4 a . ..1 9 8 1 J -D G o u v A O e w e l a t g u g o a 1 9 4 2 J -D N AS t 116*4116*2 116*81163 8 100*4 Sa le 1 0 0 ......... 1 0 2 ......... 1 1 0 * 2 ........ 1 U *4........ 1 0 7 * 2 .— 1 2 5 * 4 ........ H ig t S o Lou 116*4 116* 117 M ay’01 100*4 100*. 100 M a y ’Oi 105 J n e ’Oc 110*2 J ’n e ’Oi ill J a n ’01 107*4 J ’n o o i 125*» J ’l y ’01 120 J a n ’0* 107*4 A u g ’OI i 1 4 14 ........ 117 M a y ’07 7 1 M a y ’Oi .......... 75 95*8 9 6 ’. 9 5 *g J ’ly ’0< .......... 116 116 J ’ly Ol 110 J a i l ’09 97*8 9 8 97 h J ’ly ’0 ! 105 *»........ 103 D e c ’09 9 0 J ’l y ’01 89*4 9 0 113*2 114 1 13*2 J ’l y ’01 104 106? 108 ......... 109** ' U v ’OU .......... 114*-. 115 *2 F o b ’09 9 5 * 2 M a y ’0U ...................... .......... 99 ...... 26 24 7 8 7g 7 8 7g ...... 27 26 .......... .......... 88 27 25*2 80 80 100^ ... . .. 71 95 71 06*2 u J-J ... .... ,, . 110 96 1 )0 98*4 ... 88 91*4 l l- J O g l lo 1-! . _ .... D eb en tu re 1 1 J -J K J -J 1 M-S M-S Q-IV , J -J 1 J -J A O M-S M-N J -D A-O A-O M-N J -J J -J 68. 99* s 100*4 M a y ’0 9 J ’l y ’09 A p 'r’Ol J ’l y ’09 F e b ’09 M ay’0 9 82 21*2 20*4 80 89 28*2 •J&*2 SO lUO'fe 101 133*2 ........... 99**8 9 8 * 2 .......... 100 99 9***2 J ’l y ’09 9 9 J ’l y ’09 100 100*2 88*4 8 8 *b 1 0 7 *2 M ay’09 8 6 A u g ’09 91*4 91*2 8 8 A p r ’UH 107 1 0 7 L 109*2 M a r ’UO .......... 9 5 9 3 A p r ’09 1 1 3 * 2 .......... 1 1 3 ‘, J ’l y ’09 .......... 109 109*4 A u g 09 106 107*2 107*2 J ’l y ’09 .......... 11 1 *2 110*4 A p r ’09 1 0 8 108 *2 108 J ’l y ’09 .......... 113 113 J ’i y ’09 101*4 S a le 101*4 lO l* , 104*2 F e b ’07 102*2 102*2 8 3 *2 S a le 83 8 4 *4 9 5 * 4 .......... 96*2 J ’u o ’09 93*4 9 0 94*4 95*8 8 9 M a r ’09 .......... 1 0 8 110 M ar’05 1 0 0 * 8 .......... 100*8 J ’l y ’09 113 J ’l y ’09 110*4 Bale 110*2 U 0 78 1 1 0 111*4 110*4 M a y ’09 8 9 Sale 88*8 89 8 9 7g Sale 89*s 8 9 7g 107 *2 A p r ’(Jo 9 8 D e e ’06 122*4 122*8 122*4 J ’l y '09 117*4 118*2 117*4 J ’n c ’09 89 .......... 9 0 J ’l y ’09 112*4 A u g ’09 112*4 113 ........... 85 101 N oy ’04 ........... 96 J -V A-C J -J J -I J -I M-S M-N J -. 1 J -J 8 A-O 92*2 100 100*V S a le 89*2 107 *2 86 Sale ) fi 2 7 7 8 99 99 Vf ^ 1 J -J J -J M-N M-N 101 78*, 96*s 1U 8 9 89 _ 13 10 _ _ ........... 91 1 0 0 “e 101*4 H io ' kange S in ce January 1 Ac Loro H tan. . . . 1 0 0 100*4 9 6 '4 O ct ’0 107*2 A u g ’Ot 100 JSeiPu* . . . 131*2 J a n 'oi . . . . J a iT ’O; __ 105 93*2 93*2 92 J ’n e ’O! 115 F e b ’Oi 125 F e b ’Ob 103*4 D e c ’03 9 3 *2 A u g ’Ot 92 *2 J ’iy ’ot 95 95*4 94*t y5 131*2 131*2 110 i l l It 91 93*a ... 90*4 92 . . . 115 116 ... ... 45 -OS 1 0 9 G et ’O' 100 M ayO S 130*2 J a n ’01 . 93 »5*8 92*4 94*2 94*4 97 93 97*4 1 3 0 * 2 l3 0 B 101 F e b '09 114*4 O c t 08 119 J 'u e ’Ob 100*4 A p r ’0 9 1 0 6 * 2 N o v ’0 l 93*2 93 *a 3( 9 0 J ’n e 08 9 3 *2 J ’l y ’09- 101 101 1 0 0 ‘s 100*4 98*s 95*4 91*a 93*2 41 100*2 102*4 100 100 5 100 1 0 0 *9' .......... 92 *2 92*2 J ’l y ’09 91*a 94 1 0 2 Si S a lt 102*4 102*2 h 101 104*2 1 0 0 * 2 .......... 101*2 1 0 1 *2] 49 100 103*2 L DC X1U1 _ 36 93*2 Sa le .......... 91* 1 1 0 >4......... ..................... 1 0 1 ......... .......... 93*. .................. 95*4 Bale 9 4 7s S a le • 1 1 * 4 ......... 1 1 3 * 2 ........ 102 . 1 2 6 * 2 ........ 1^ 6 ^ ____ H i ’s ........ 110 . . . 1 1 3 7s 1 1 6 112 . 90*4 100*. ...... ... 93*4 93*2 Low 100*4 A u g ’o § C 103*8 N Y L a c k & VV See D L & W 111 *2 N \ I i K & W See E r ie 87*4 N Y A N o r t h See N Y C A H 25 98®g 101 *4 8 8 :,< . . . . 104*4 109*2 N X A P u t See N Y C & H 83*8 8 7 \ N V A It B See L o n g Ia la n d o i 9 0 *4 93 \ N Y S A W See E r ie 88 89*2 N Y T e x A M See S o P a c Co L09*2 110 93 93 113 114*2 108 112 106 110 110*4 110*4 1 08 111*6 113 110 9 1 0 0 *2 l 02*8 P o c a li C A C J o in t 4 s ”. 19 4 1 115 W eek’s K ange or L a st S a le as t 1 0 0 * 4 ........ . 9 4 * 8 ........ 91 ......... . 1 0 9 1 1 7 16 ..................... ..................... 121 130*. 1 0 9 * 2 ........ ..........115°, 106*4 H I « J -J 109 i0 9 * e 112*2 115*2 94 95 *a 1 3 1 ........... 132*2 J ’n e ’Oi' 132*2 1 0 8 * 4 .......... 118 J a n ’Oi . . . . 101*4 M ay’09 101*4 109*8 J ’l y ’09 109 85*8 8 6 85*2 A u g ’09 84*4 91 94 100*2 88*g ... .. 9114 S ia V m -s 6 F-' (i M-> 7 A-C 3 A-C 6 A t 2 J-C > A -( r, F -^ ^ M-N ._ _ P rice F rid a y A u g u s t 13 H io n 115*2 117*2 . . . 110 117 1'. 99*4 102*4 . . . 100 lO O 1* ___ . . . 108*4 f lO *2 111 111 . . . . 107*4 107*4 124*4 126*8 . . . 120 120 — 98*4 A u g ’09 1 0 0 * 4 .......... 100 *g Low -0 c BO ND a« N . Y . STOCK E X C H g .,v « W kkk E nding A u g u s t 13 B = kange S in ce S? **3 - J a n u a r y 1 Week's k a n g e or L a st Sale c; y ^ 1 c. BO ND.-* N . Y . STOCK E X C H A N G E W k bk E n d in g A u g u s t 13 M-S M-S M-N M-N F-A A-O A-O A-O J -J J -D J -D J -J M-N 103*4 • — a. o v ^ <*0 L v o v S5 *g N o r t h I llin o is See C h i & N W 96*2 N o r t h O h io See L E r ie A W 9 5 *a N o r P a c —P r io r U e n g 4 a . .1 9 9 7 <4 J 91 1 -J R e g is te r e d ......................1 9 9 7 G e n e r a l U en g o ld 3 s ___ a 2 0 4 7 y - F 99*4 100*8 R e g i s t e r e d ................... o 2 0 4 7 0 - 1 J -D 112*2 113*2 110*4 112 M-S 110*4 l H ^ 86 90*4 F-A S t P A N P gen g 6a 88*8 91 O-F R e g is te r e d c e r t i f i e d . S t P a u l A D u l l a t 5 a ___ 193 1 F-A ? d A s ..................................... 1 9 1 7 A-O i li i S i i - j S l a t c o n s o l g o ld 4 s ........... 1 9 6 8 J -D 117 118 W a s h C e n t l a t g 4 a ........... 1 9 4 8 0 -M B6*2 91 N o r P a c T e r Co 1 s t g 6 a . . 1 9 3 3 J -J 112 *2 112*4 N o r R y C al See S o P a o N o r W ia See O S t P M A O N o r A M o n t See N Y C e n t Ind A W See C C C A S t L h io R i v R l t See B a lt A O O re A C al See S o P a c Co O re s h o r t L in e See U n P a o O sw e g o A R o m e See N I C O C F A S t P See C A N W 1U )78 1 1 2 L a c C o a st Co l a t g 5 a ___ 1 9 4 6 J -D 112*4 113*8 a c o f M is s o u r i See M o P a c P e n n R l t 1 s t r e a l e a t g 4 a . 19 2 3 M-N C o n so l g o ld 5 a ......................1 9 1 9 M-S C o n so l g o ld 4 a ......................1 9 4 3 M-N C o n so l g o ld 4 a ................... 1 9 4 8 M N 102 103 C o n v e r t ib le g 3*28............. 1 9 1 2 M-N 80 85 C o n v e r tib le g 3 *23............. 1 9 1 5 J -D 9 2 7g 9 6 A l l e g V a l g e n g u g 4 a . ..1 9 4 2 M-JS 86 89 D It R R A B g e l a t g u 4a g . ’3 6 F-A P liila B a l A W l a t g 4 s . . 1 9 4 3 M-N S o u R a y A S o l a t g 6 a . . .1 9 2 4 J - J U N J R l t A C an g e n 4 s . 19 4 4 M -S 92 9 4 t , P e n n C o—G u a r l a t g 4 *2 8 .1 9 2 1 J - J 92*4 93*4 R e g is t e r e d ........................1921 J - J 93*8 96*2 G u a r 0*28 coU t r u s t r e g .1 9 3 7 M-S 83 85*4 G u a r 3 *2 8 c o ll tr s c r B . .. 1 9 4 1 F-A 81*2 8 4 L T r Co c e r t if ’a g u g 3 *2 8 .1 9 1 6 M-N 82*2 84*4 G u 3*28 tr c tfa C ................. 1 9 1 2 J -D 82 82 *2 G u 3*28 tr c t f s l ) . . . . ........ 194 4 J -D .0 0 *4100 * 4 G u a r 15-25 y e a r g 4 s ___ 1931 A O Cl A M ar l a t g u g 4 * 2 9 ..1 9 3 5 Vl-N Cl A P g e u g u g 4 * 2 8 a e r A . ’42 J - J S e r ie s B ..............................1 9 4 2 A-O S c r ie s C 3*28......................1 9 4 s M-N 97*2 97*2 S e r ie s D 3 *28......................1 9 5 0 F-A 1 3 8 fl8 S a le 138*2 138*4 97 133*4 139 108*2 S a le 108 * i 1 9 8 8 Go 9 7 * i 109*4 117 .......... 118*2 D e c ’03 107 A u g ’ob . . . . 107 107 98*2 1 0 0 103 126 120 128 99*4 .......... 126*2 . 129 100*4 93*4 93*4 103^4 b a le 92 92*4 1 0 5 .......... 9 6 * 4 .......... 103 S a le 73*4 S a le 7 2 - 2 .......... .......... 97 98*i 98*4 101*9 J ’n e ’ou 8 104 J ’u e ’0 9 127 J ’n c '0 9 129 A la r’o!) 1 2 b *2 J ’n e ’0 9 1 0 0 *; 1 0 0 L 7 9 7 J ’l y ’09 93*8 93\ 101*2 103*4 126 9J 92 1 109*2 F eO ’05 96*4 98*4 5 102*2 1 0 3 102 >, J ’l y ’09 73*i /A 7 3 J ’i y ’09 9 7 *a J ’u e ’Oe 98 99*4 104 1 0 4 127 1 2 8 129 12S 127 128*a 9 8 100*2 97 97 93 95 9 3 *» 103*4 8 y ®8 9 3 96*4 98*2 8 0 102*4 1 0 4 101 103 75 59 7 3 72*4 74*4 06 97 *g 119*2 1 2 0 *.. 119 120 1 1 2 * 4 .......... 104 *2.......... .......... 9 8 94*2 9 6 120^3 M ay’09 115 M a y ’0 9 117*4 J ’i y ’07 L04*4 i l a y ’09 97*8 J ’D’ ’92 92*2 J a n ’09 116 j ’l y ’09 120 115 121 120*8 11*4 104*4 97*2 99 92*2 92*2 115 1 16*, 110 110 109*2 112 O HO** 111 1 1 2 7g S a le 1 1 1 >2 J ’l y ’09 1 1 2 78 1 1 2 7t 116*2 M ay’07 113 i J ’l y ’04 .......... 1 0 3*, 102*8 J ’l y ’09 84>a 84*4 84*4 84*4 95 pjilo 9 4 >8 96 87>a 1>8 8 8 ** 8 8 ** 9 2 >g Sale ........... 92 95 *4 S a le 83 84 .......... 82H, 83*2 84 92*8 0 2 14 93 J ’n o ’09 95*4 96*2 83 *2 84 8 2 A u g ’09 83*4 84 82*2 J ’u o ’09 1 0 0 * 8 _____ 100*4 J ’u o ’09 100 .......... 02 M iu ’04 107 ........... 8 4 * 2 .......... 9 7 *2 A p r ’09 2 7 4 16 18 14 14 P 111 A u g ’08 103 J ’l y ’09 103 1 0 5 1 0 9 * 2 .......... 109*2 J a n ’09 109*2 109*2 1 0 0 .......... 102*2 Aluy’OS' 102*2 104*8 104 \ *alb 104*8 104*4 6 s 104*8 105*4 103 ,09 97*2 103% 102*8 S a le 102 98^6 S a lt 97*a 93*4 *75 94*4 1 0 0 ............... . 1 0 0 .......... 9 9 J ’u e ’07 9 6 .......... 103*2 1 0 4 1 0 3 * 4 .......... 104 J ’n e ’08 97 . 104 1 u 6*2 106*2 J ’l y ’05 .......... 1 0 6 104 104 6 i 0 4 106*2 1 0 3 * s .......... 104*2 M a y ’0 9 .04*2 104*2 91 .......... 9 0 * a J ’n e ’06 91 9 1 7k 9 1 J ’l y ’09 90*4 91*4 97*4 J ’l y ’O'. 97*4 9 8 96*4 97*2 90 1 89*4 9 0 8 9 * 2 .......... 9 0 90*2 90*4 90 93*4 90*4 M ay’09 . .. 99 100 9 9 J ’i y ’0 9 . 98*2 9 9 *; 1 0 4 104*4 10 J a n ’0 5 . 10*4 110*4 1 0 9 * 4 .......... 110*4 J a n ’09 . . . . 1 0 9 * 4 .......... 09*4 J ’i y ’09 . .. 09*4 1U9*4 U8 hi D oc ’Oil . 95 96 95 .......... 9 0 M a y ’0 8 . d lliS C R L L \N K O U S> B O N D S —C o n tin u e d o il N e x t P a g e C o n i m id I r o n 3ol F A 1 Co g e n a f g 6 3 . . 1 9 4 3 C o n v e r t ib le d e b g o a — 19 1 1 G r R i v C oal A O 1 s t g 6 a l9 1 9 Bleart B i t C o a l l s t s f 4 a . . . 1 9 4 0 Dol I n d u I s t A c o ll 5a g u . ,1 9 3 4 b’o n t ln ’ta lC l a t a f g u 5 a g . 1 9 5 2 fe lt A C le a r C A I l a t g 5a . 1 9 2 6 U a n A H C A C l a t a f § 5 8 .1 9 5 1 r le a a V al C oal l a t g a f 6 s . 1 9 2 8 I’o c a li C on C o llie r l a t a f 5 s .’57 feum lay C r e o a Co g 5 a ___ 1 9 4 4 L’e n n C oal g e u 5 a ................. 1951 T e n n D iv l a t g 6a .........« 1 9 1 7 B ir in D iv l a t c o n s o l 6 a ..1 9 1 7 C ali C -M Co l a t g u 2 6.3.1922 D e B a r C A 1 Co g u g 6 a. 1 9 1 0 y a l r o n Coal A C o la t g 6 a. 19 4 9 V ictor F u e l 1 s t a 1 Oa.......... 19 0 3 F-A F -A A-O J -J F-A F-A J -D J -J J -J J -J J -J J -J AO J -J J -D F-A M-S J -J S a le 100 100 97*2 87 J ’l y ’09 I02°a A p r ’0 6 9 5 A p r ’02 82 80 8 4 1 81 107 »8 D e e ’04 107 M ay’97 1 0 0 3 a .......... 106*2 D e c ’0 6 105 O ct ’0 0 ”8 8 " "88*34 8 8 34 J ’l y ’09 7 8 F o b ’07 1 0 3 * 2 ........ 103*2 103*4 ...........1 09 108 108 1 0 7 H ,........ 108 J ’l y ’09 1 05 . . 110 J a n ’09 103 N o v ’08 99 99* 99*2 A u g ’09 87 8 7 J ’l y ’09 100 1 0 0 V, 87*s 71 841 86 89 101*2 103* 106*4 109 106 *a 103 110 110 100 87 T e l e g r a p h m id T e l e p h o n e A m T o le p A T e l coU t r 4a 1 9 2 9 C o n v e r t ib le 4 s .................... 1 9 3 6 M ic h . S t a te T e le p . l a t 5 a . 1924 P a c T e l A T e l 1a t 5 s ..........193 7 W oat U n io n c o l tr c u r 5 8 .1 9 3 8 F d a n d r e a l ea t g 4*2S...1950 C o n v 4 s , S e r ie s A .............1 9 3 6 M u t U n T e l a fu n d 6 a . ..1 9 1 1 M a n u ln c tu rin g «V in d u s tria l A llla -C lia lm er a l a t 5 a ......... 1 9 3 6 A m A g c li e n t 1 s t c o s .........1928 A m C o t OU e x t 4 *28.............19 1 5 A m H id e A L 1 s t a f g 6 a . . l 9 1 9 A m c r I c e S e c u r d e b g 6 s . . 19 2 5 A m S p ir it s M tg l a t g 6 s . . 19 1 5 A m T o b a c c o 4 0 -y r g 6 s ___ 1944 4 s .................................................1951 A m T h rea d 1 st co l tr 4 s .. 1919 J -J M -S F-A J -J J -J M-N M-N M-N 94*4 6 8 93*8 93 V S a le 105*2 Bale 105*4 106*2 722 98*4 99 98=6 16 97 34 S a le 97*.i 127 9 7 ng 99*4 100 J ’l y ’09 " o T * Bale 94 94 12 93 Bale 92*4 93*2 89 100 100 M a r’09 J -J A-O y -F i l- S A-O M-S A-O F -A J -J 86 S a le 86 101*4 102*2 103 98<*g 99 08= h 91=8 96 92*« 106*2 100 96*2 98*g 98*2 102*2 93*4 96=8 84 96*4 95 1 0 0 86*2 92 SO 103 11 9 6 3 96 98*8 1 0 2 *2 ;Sa le 101*2 102*2 32 96*4 r( 77 77 b a it 79 67 100 a 95*2 99 99*4 1*1* 2 * 6 a it 111*4 1 1 2 1 18 104*2 80*4 Bale ! 3 6 0 74 80*8 90=1, 89 7g 92*2 92 J ’ly ’09 88*4 103 ^ 98*4 102*2 80 100 J 12 *J 80*8 92*4 "3 BON D N . Y. S T O C K E X C H A N G E WEKK E v n w i AUC1U8T 13 Price F r id a y A u g u s t 13 P e n n C o —<c o n tin u e d ) Erie<fc P i t t s g u g 3 His B .1 9 4 0 j R iu j .j .j .j .j 2(178 ......................... 1 9 1 2 A -0 M-N A-O A -0 M-N S e n e s b i s g u a r .............1 9 4 6 M-N F-A J -D C S t D & P 1 s t con g 5 8 .1 9 3 2 A - 0 P e n s a c o la Sc A t l tiee L & .Nash P e o & E a s t See C C C <& S t D P e o <*! P e k U n 1 s t g Gs___ 1921 Q-F ‘2 d g o ld 4V„s........................ 61921 M-N P e r e 'M a r q —Ulufc VV M 5 s 1921 J -D E lin t tfc P M g Os................ 19 2 0 A-O 1 s t c o n s o l g o ld 5 s ...........1 93 9 M-N P t H u r o n D iv 1 st g 5 s . 19 3 9 A -0 F-A P h il B & W See P e n n U K j j j j P h i lip p in e K y 1 s t 3 0 -y r a 1 4 s ’37 j - j P i t t s C m & s t D S e e P e n n Co P i t t s C le v e & T o l see 1 1 * 0 P i t t s E t W So Cli See P e n n Co P i t t s M c K e e s & X See N Y Ceu A-O J -J P i t t s & W e s t see B & o 5j e n d in g Co g e n g 4 s .........1997 j - j JCV R e g is t e r e d .........................19 9 7 J J J e r s e y C e n t c o ll g 4 s . ..1 9 5 1 A 0 R e n s s e la e r <& S ar See U & 11 K ioli & D an See S o u th Hy R ic h & M e ek See S o u th e r n R io O r W e s t See D o n * K ioG r K och <fe P itt a See B R A P R u tla n d See is Y C e n t U a g T u s ife H See P e r e M arti O t ’J o & (Jr t s l 1s t g 4 s . . .1 9 4 7 S t D <fc C airo see M ol) * O hio S t D * ir o n M o u n t See M P S tD K C & N See W ab ash S t 1. M B r See T R R A of S t L S t L o u is & S E — J o u g O s .1931 (J e n e r a l g o ld 6 s ...................1 9 3 1 G e n 1 5 -2 0 yr 5 s ................192 S t D <fc S b R R c o n s g 4 s . . ’90 R e f u n d in g g 4 s .............. 1951 S t L M & S o E a s t g u 4 H igl90 9 K C E t S <fc 51 c o il g O s..1 9 2 8 K C b’t S So 51 K y r e f g 4 s 1 9 3 0 j .j J -J J J M-N J J A-O J -J J -D M-N A-O O z’r k & C li C 1 s t x u 5 s x -1 9 1 3 A O S t B o o t s S o See I llin o is C en t S t Li S W 1 s t g 4 s lid c t f s .1 9 8 9 M-N 2 d g 4 s in c bond o t f s . . . p l 9 8 9 J -J J D J -D S t P a u l ifc D u l see N o r P a c illu S t P a u l A1 <fe M an 2d 0 s . . . 190 9 A-O 1 s t c o n s o l go ld Os...............193 3 J - J R e g is t e r e d .........................19 3 3 J - J R e d u c e d to go ld 4 *2 8 ..1 9 3 3 J - J R e g is t e r e d .....................19 3 3 J - J D a k o ta e x t go ld Os...........1 9 1 0 M-N J-D J -D E M in n N o r D iv 1 s t g 4 s 1948 A-O J J M on t C 1 s t g u g Os...........1937 J J J -J J -J W ill <fc S E 1 s t g o ld 6 s ..l9 3 .r J-D S t P & N o r P ao See N o r P a c S t P «& S ’x C ity S e e d S t P M & u S A <& A P a s s 1 s t g u g 4 s . . . 194 3 J -J S b e P r o s So P ll 1 st g 6 s . . .1 9 4 2 .VI-b J J S a v E & W est W eek's R a n g e or L ast Sale AS s Low 9 2 \ .......... 9 2 a4 .......... 104 .......... 107 .......... 107 1 1 0 107 .......... 1 1 0 ‘s .......... 1 0 7 7s .......... 107 7g .......... 1 0 8 .......... 9 9 « g .......... 92 S a le 105 .......... ...........112 ...........1 0 7 *s 1 0 7 1 0 8 1-, h ig h No Low J1 igh A p r ’07 no no 107 7b 109*2 108 ~ 109 ‘ 1 <12 F e b ’09 . . . . 94*2 A p r ’09 100*8 102 94 95 t09*s 110 J ’l y ’09 . . . . 1 116 116 100*4 D e c ’05 105 J ’ly 0 9 1 1 3 7g M a y ’U9 1 0 9 Hi J ’ly ’09 . . . . y 108 Hi 1 0 8 Hi 1 0 4 Vj.......... 115*2 M a r’0 0 9 3 M a y ’09 ........... 93 115*4 116*2 116 J ’l y ’09 116 .......... 3 3 7s J ’l y ’97 9 0 ‘s 96 2 96 1 2 3 “s 1103s 91 90 100*4 8 0 Hi .......... 123*8 A u g ’00 S a le 1 1 0 “» 1 1 03s 9 0 a4 9 1 *8 Sale 96 A p r ’Oy 92 .......... 100*2 A u g U9 80Hi e7 87 9 9 a4 A p r ’09 1 19 Hi 12 l a4 119*2 A p r ’09 8 3 Hi 8 3 a, 8 3 »s S4 lu o 97*2 J ’n e ’09 9 8 Hi 9 9 ___ 6 94*4 94*2 » 4 J ’ly ’09 . . . . 79 79*4 ‘2 t 101*« A p r ’07 .......... 1 3 0 ‘a 133 .......... 132*u 1 0 8 109 107 Hi.......... 1 0 2 ‘s .......... 100*8 LOi 1 0 0 7s J ’n e ’09 . . . . I 3 t a4 J ’n e ’09 . . . . 132 A p r ’09 . . . . 1 108 108 l u 8 a, J ’n e ’09 102 *8 J ’ly ’09 . . . . 1 0 0 Hi J ’ly ’09 . . . . 100 M O ct ’00 m l hi J ’ly ’09 . . . . 124 5 in y ’05 130*4 J ’n e ’Oj . . . . 130*4 M ay’OO 115 A u g ’OO 110 J ’n e ’09 9 9 .......... 101 .......... 1 3 0 * , 131*4 1 1 4 * 4 .......... 115 .......... 9 0 *t 89 ®s 9 0 H- 9 0 n o * * .......... 111 *4 J ’n e ’09 110 O ct '05 U ta ll JO N o r t li 114*4 i l 7 no u o a4 FA \ e r a C ru z A P l s t g u 4>281934 J - J V er V a l I n d So W aee M o P V ir g in ia M id See S o u th Itv V a J e S o u t h iv ’t 1 s t g u 5 8 .2 0 0 3 J - J 1 s t c o n s 5 0 -y e a r 5 s .......... 1 9 5 8 A - 0 116 110 105 112*4 104*4 1 0 8 ‘2 100 115 109 H 1 0 8 V, 93 95 no*. 9 9 34 101 9 8 Hi 100 9 0 Hi 9 8 v, 92 97 ’9 73s 98 92 79 78 U5 85 b l *4 1 0 0 78 104 131 132*„ (3 2 13108 111 10834 lu b 3^ 102 *8 103 Hi 99*4 10 L 17 89 92*8 111*2 113 89*4 89H. 29 8 3 Hi S a le 2 9 3 7s ........ . Kl0 78 1 0 0 7s 85 . 8 8 J a n ’07 0 3 Hi.......... 8 5 J ’l y ’0 8 100 107*4 A u g ’OO . . . . 03*2 91 95 Hi 1 0 0 7s SU S p e c u So U See A t l C o a st D Bo Car So G a See S o u th e r n S o u th e r n P a c ific Co— G old 4 s (C e n t P u e c o ll ) ./ d 9 4 9 R e g i s t e r e d .....................& 1949 2 0 -y e a r c o n v 4 s .......... g 192: C e n t P a c 1s t rel gu g 4 s 194 9 R e g is t e r e d .........................194 9 M o r tg u a r g o ld 3 ‘a s .. /c l 9 2 l J -D J -D M-S F ■A b'-A .1 -D A -0 G al H a r So S A 1 s t g G s .,1 9 1 b F-A 1 s t g u a r 5 s r e d ............ 193 3 H So T C 1 s t g 5 s in t g u . . l 9 3 7 G e n gold 4 s in t g u a r . .i 9 2 1 W a c o Jo N W 01 v l s t g 0 s ’3o A ifc N W I s l gu v 5 s . . . . 194 ,V1-N vl-N Vl-N j -j AO A -0 M-N J J ...........ib"7 ..........1 0 9 100 ........ 109*2 M ar’06 100 Hi J ’n e ’09 1 06 H. A la r’Oii 107°« J ’n o ’09 95 V, 93 93*2 51 9 0 9 3 a4 9 3 34 6 85 9 .ia4 104*8 105*8 43X7 97 Hi 105*8 9 '^ o7*s 30 9 0 7e 9 8 78 9 0 J ’ly ’Oj 90 97*4 89*2 J ' l y ’ou 89*8 93 '4 94*8 j ’l y ’09 93*4 95 t i l l ‘4 A p r '09 101 *8 i o n . 1.10 l l 2 104 5 la r ’09 104 . 104 J 04 i 04 V, 1 0 8 103 106*4 103*2 103 s 10 4 7a .......... 103 Hi A p r '09 2 i o o *8 n o * . 1 10*4 S a le 109*8 110*4 109 .......... 1 0 1*s N o v ’07 96 Uli 95 9 0 Hi 9 5 J - l y ’09 110 D e c '0 0 11 0 118 107 *2 J a n 09 . . . . 107 *; i 0 7 *2 9 3 Sa le 8 0 .......... 1 0 5 3a Sale 9 7 ae S a le 97 97 Hi 89*4 8 9 H 94 943ft J liM C E liD A N R O llS , U n n iiln c t iir iiiE Ar In iliiN tr ln i A rm our <&Co 1 s t r e a l est-1 H:8’39 B etli toleei 1 st e x t s i 6 S .. bo. 6 D ent D e a tlie r 2 0 -y e a r g 5 s .lU 2 5 D is til s e c Cor c o n v 1 s t g 5 s . ’27 l il t P a p e r Co 1 s t c o n g 0 s .l 9 1 » C o n so l c o n v s 1 g 5 s .........1935 I n t S t P u m p l o - y r c o n v . Os T 3 L a c k a w S t e e l 1st g .«s___ 1 9 2 3 N V A ir iir a k o 1 st c o n v Os ’28 R e p u b l j f c s lst«fc c o lt r o s . 1934 U n io n B a g <Sj P 1 s t ex 5 s . .1 9 3 ; U » i.e a t h Co s 1 d e c g O s .,1 9 1 3 U S R e a lty & I c o n v dob g 5 s ’24 U S R u b b e r 1 0 -y r c o ll t r G s .’ l s U S s t e e i C orp— ) c o u p .0 1 9 0 3 S I 10-Go y r 5 s . ( r e * ..cilttG S V a-C ar C hom 1 s t 16-yr 6 s 19 2 3 W e s tin v h o u s e E * 5 l s t 5 s ’31 J -D UJ A-O A-O F-A j .j j j AO M-N AO j .j j j J -D M-N MN J -O J J 9 4 Hi S a le 8 9 S a le 100*4 s a le 77 S a le 1 0 3 *a 105 8 7 *g S a le 1 0 4 a4 105*4 9 8 D .......... .......... 1 10*4 1 0 1 7a Sale 9 7 s a le IUG Sa le 9 0 S a lt 105 *4 S a le 107*8 Sale 9 9 H> s a lt 9 4 Hi S a le 94Hi 9 4 7s 114 89 8 9 34 141 100>s N i l 115 7 0 Hi 77*4 27 106 105 4 87 87 H. 2 4 1 0 5 J ’l y ’09 98*2 98 v , 6 1 15 78 l i d 1! 30 1 0 1 7S 1 0 2 9 9 0 Hi 97 8 100 100 20 90 90*2 3 . 105 1 0 5 H 31 107*8 108 dS107*4 108*s 32 99*8 9 9 V, 45 93 9 4 7 1 16 * N o p r ic e E riday; l a t e s t bid a n d a sic e a t h is w e e k . aD uoJan 2 u g o ld o s ............ ; ; ; i i 9 3 o F-A J -J J -J 1s t lie n e q u i p s Id g 5 s . .1 9 2 1 M-S 1 s t lie n 5 0 y r g ter m 4 s . 1 9 5 4 J -J J -J b e t So Ch E x t 1 s t g 5 s'.'.l9 4 1 J - J T o l Sts Ch D tv l s t g 4 s . . . 1941 W ab P it t s T e r m 1 s t g 4 s . 1964 T r u s t Co c e r t f s .................... 2 d t o ld 4 s .......................... 1 9 5 4 W arrou see D e l D ae So W e s t W ash C e n t See N o r Pao W a sh U A W See S o u th e r n W a sh T e r m l 1st g u 3 *2 8 . . 1945 W e s t M a r y la n d l s t g 4 s . . . 1 9 5 2 G en w c o n v g 4 s .............. 19 5 2 W V a C e n t So 1* l a t g Os 1911 W e s t N Y So P a l s t g o s . .1 9 3 7 G en g o ld 4 s .......................... 1 9 4 3 W e st N o Car Range is 0 0 Since 3 Ja n u a ry 1 .......... 92 ..........105 102 ___ 1 12 *2 S a le 1 0 9 .......... 8 2 *2 Sa le 9 0 .......... .......... 112 .......... S93 r 110*2 112*8 9 2 Hi 9 4 8 7 v , 87*4 8 1 ** 8 6 1 0 9 * 8 .......... 110 .......... 1 1 4 Hj 115 1 0 r t ^ .......... 08 05 1 10 * 4 .......... 116 1 1 8 105 ........... 9 0 J ’l y 09 102 Vj j ’u c ’Ot* 98H, A p r ’Ob 9 5 14 95 ^ 112*4 113 110 AXa y ’09 b2 Ha 83 90 90 113 A p r ’09 88*2 ^89*4 108 S e p ’Ob 92*1 A u g ’0 9 109 i ’o b 115H, ........ 1 0 9 a4 117 93*4 90*» 06 106 113** 10D 1 1 0 Hi 85 56 7 0 4 86*2 90*2 113 1 1 3 * . 10 87®b 91 9 2 Vj 92*2 J ’n e ’U.i 112*4 A u g ’OO 0 5 J ’no'09 106 J a n ’0 9 100*2 N o v ’04 111 J ’l y ’uy 112 J ’110’09 103 *2 M ay 09 93 93 109 110*4 110*2 105 64 1113, 118*4 114*2 107 08 117 118*4 108*4 U 1 101*2 103*4 .... 109 109 1 107 110*2 107*4 109*2 108*4 109*4 117 J ’l y ’0 0 109 107 V, J ’n o ’09 no 116 J ’l y ’09 98 9 8 J ’l y ’09 .......... 110*4 J ’n o ’ua 112*4 113*2 ........... 7 5 1 0 0 .......... 100 . HI 1 14 *2 109 *2 114 103 Hi.......... .......... 1*3 v. 90 9 0 78 91*8 83*8 8 3 V, 104 lo lv , 88*2 9 2 102 Ha 103*2 114*2 J ’l y ’09 107 A p r ’Ob 0 8 A u g ’OO 117 A p r ’09 118*4 M iiy’09 ___ 1 0 9 * 2 .......... 1 1 0 ‘b J ’n e ’09 1 0 8 .......... 9 2 J ’n e ’Ob 75 C o t ’Ob 103*4 M ay’OO 1 0 2 H il9 4 1 0 0 * 4 ........ . 112 O c t ’OO 1 0 0 .......... 108*2 D e n *03 1 0 7 * 2 .......... 109 J ’l y ’09 109 109 109*2 M ar’09 87 .......... 9 0 *6 J a n ’(>7 1 0 8 * « .......... 108*4 A u g ’09 H ig h ...... 107 *2 i(19 115 117 90 98 110*4 110*4 _ 1 1 2 34 119 65 75 103*2 1 0 5 111 112 L(I3*2 2 92*4 80*4 10 89Hi 1 83*8 0 1 a4 107 112*2 112 105 96 94 91** 8 8 Hi 9 1 a4 lU 8 a4 90*8 90*8 8 3 *6 8 J*s U l»4 A p r ’09 107 .......... lu 7 J ’ly ’09 81 N o v '0 8 103*4 103 ’, 43 102 1 2 134 1003, 103 1 0 2 * 2 .......... 102 Hi J ’l y ’09 99*4 9 9 V, ib'i 9 0 a4 1 0 0 1 2 1 Hi S a le 1 15*i 121*4 Jb’JU 102 1 2 t3 4 99 *a 6 98 9 8 Hi 98 N 9 8 Hi d a le 1 1 9 ya ln l 19 *8 119*8 lb U 8 H il2 0 H i 114 1 1 8 114 114*4 114 J ’l y ’09 90*4 94*8 96 9 4 a, Sale 66 94 94 94 993g 100*2 93*8 A u g ’09 98 98 N o v ’Ob S e p ’00 109 .......... 110 J ’l y ’09 98 OSH. 9 8 v, Aug'OP 1 VA Sal*' 1 0 4 *4 s a le 104*4 104*4 JU l j ’l y ’09 109 *2 M ay’09 8 / M a y ’09 H Hi ( 8 *8 1 1 0 * 4 .......... 110 *4 A u g ’oO ...........iO l . . _____ 110 117 va 98*4 100 bo b 102 *2 1 0 5 LOO‘b 1 0 0 ‘« 80 101 1 0 2 H. 1 0 2 Ha 87 87 Hi iuuo 71 a4 8 0 ’* 108 111 ‘4 78 90 42 41^ 7 80 914 5 5 *4 0 0 34 14 Hi J -D 7 8 J ’l y ’09 91 *s M a y ’OO 47 47 6 40*2 4 0 v, 8 A u g ’o9 . . . . FA A-O A-O J -J J -J A-O -Sov 9 2 Ha J ’n e ’OU 92*2 9 3 a4 .......... 92 80 80*6 GG 8238 88 8 0 *8 Sale 09 09 1 01 73*2 0 9 Sa le ........ 102 J ’l y ’OO L02 102 113 lib i 110 1 1 7 113 115 87 05*8 9 1 * 4 .......... 8 8 *4 J ’ly 09 3-1 b o b ’07 A-O Vl-S J -D See s o u t h i t y A-O j -j F-A l i l t 1 s t c o n s o l 4 s ............" m o M-S 2 0 -y ea r e q u ip s 1 5 s . .. 1 9 2 2 J J 75 84 85 90*2 .......... 4 7 4 3 Hi dale 7(17V, 107 '1 105 E o b ’09 . 106 Hi 95 J ’l y ’08 105 >2 D e e l0> 87 V, 8 7 Hi S 7*e 87 H, 99 D e c ’Ob 90 99 W il So S io u x E See S t P Al & Al J -J 8 up& D u i d i v * ter m 1 s t i s ’.to M-N 93*4 93*4 95 >2 93*8 107 LOI* 0 8 3 a4 « 0 ..................... .. 104 96 94*2 lb& 89*2 9G7* 9 2 J4 90 B O N I P '—C o n c lu d e d . M is c e ll a n e o u s 94*2 96*2 A d a m s E x c o l tr g 4 s ...........19 4 8 77 90 96*2 101 R u sh T e r m in a l 1 s t 4 s .'T .I lO D 73 *a 7 a 7s C o u so i 6 s ................................1955 101 1 0 0 *. 86 88*2 100 105 1u s t it u t lo n to r Ir r ig W k s 93 99 & D cvei ot A g n cu l s t 108 110*2 4 * , s ( c t t s ) ...................... 1043 9 8 102 I n t A leroan M a r in e 4 ^ 3 ..1 9 3 3 9 1 3 , 93 m t N a v ig a t io n 1 st s t 6 s . 19 2 9 104 *2 lO 0 -\ 81 *4 9 N , N Y D o c k 5 0 -y r 1 s t g 4 s .. 1951 102*4 ldO P r o v id e n c e S e c d eb i s . . .1 9 5 7 102 *g 108 P r o v id e n t L oan S o c 4 H a s .l9 2 1 101*8 108 V 93*4 100 s Y u ha' W a t Co c o u g O s..1 9 2 3 9 0 V, 96 V, U S R e d * R e f 1 s t s 1 g Os. 1931 oD u ocou Week’s R a n g e or L a st S a le See U n P a c ific vv 102 lo o '.] i0 5 100 100*4 107*4 P rice F r id a y A u g u s t 13 R id a s h Low R ig a No Low S o u th e r n P a c Co — ( C o n tin u ed j ...... A lo r g a n ’s D a & T 1 s t 7 s .1 9 1 b A t) 1 1 0 H i.......... 122*8 A u g ’08 A . J 115 ........... 110 N’o v ’Ot 112 K eb ’ov 1 0 4 MarOO 104 J -J 101*2 101 v, J a n ’td J -J 104*2 J ’u e ’08 114*2 D e c ’01 A-O 112 . io iv j i o i ^ iio v See A t l C o a st i . S eab oard A ir D in e g 4 s . . . 1 9 5 o A-O C o ll tr r e fu n d g 5 s ...........1 911 Vl-K A tl-B ir m 3 0 - y r l s t g 4 s .e l 9 3 3 M -a J -J b'la C e u So P e n 1 s t g 6 s .1 9 1 b J - J J -J J -J G a & A la R y 1 st c o n 6 s o 1946 J -J G a Car <fc N o 1 s t g u g 6 s 192 9 J J -J - J ^4 c 13(i*4 io 2 * s 114 . . . . 1 2 2 V, 1243, ] no 111 283 88 913, .... 91 9 0 *2 lOOVj N il 8 4 7s 8 9 . . . . 9 9 a4 <J<J34 110**8 120*2 84 82 a4 8 0 9 4 V, s a le 81 84 7 8 He 7 9 BONDS N . Y. ST O C K E X C H A N G E W e e k E n d in g A u g u s t 13 J -j T e x ife N O S a b D iv ls t g O s.1 9 1 2 M-S J *J J -j S o u t h e r n —1 s t c o n g 5 s ___ 1994 J - J R e g is t e r e d ........................ 1994 J - J D e v e lo p & g e n 4 s S e r A . 1950 A -0 Alob ife O h io c o ll tr g 4 s . . 1 9 3 8 M-S J -J S t D o u is d iv 1 s t g 4 s ___ 1951 J - J J -J A tlcfe D a n v l s t g 4 s .........1 9 4 b J - J 2 d 4 s .................................. 194fc J - J A -0 C ol & G r e e n v 1 s t Os.........1 9 1 0 j - j J -J C on 1 s t g o ld 5 s ...............1 9 5 0 Al-N E T e n reo r lie u g 5 s .........1 9 3 8 M- S G a M id la n d 1 s t 3 s ............ 19 4 0 A-O G a P a o R y 1 s t g Os...........192 2 J -J K n o x & O hio 1 s t g O s ... 192 5 .1 - J J •J J -J R ic h i& D a n c o n g Os___ 19 1 5 J .J A-O M-N S o C ar & G a 1 s t g 5 s ___ 19 1 9 M-N V ir g in ia M id s e r ~C 6 8 . .. 1 9 D M-S M-S S e n e s E 6 s ........................ 1 9 2 0 M-S G e n e r a l 5 s .................. lie-in M-N M-N F-A W e s t N C 1 s t c o n g O s..1 9 1 4 J - J d & N A la See D«fc N J j f 'e r A o f S t D 1 s t g 4 * * a s..l9 3 9 A-O 1 1 s t c o n g o ld 5 s ___ 1 8 9 4 -1 9 4 4 E-A G e n r e fu n d s t g a s .......... 19 5 3 J -J S t D M B g e T e r g u g 5 s . 1 9 3 0 A-O l'e x c& N O See S o P a c Co T e x So P a c 1 s t g o ld 5 s .........2 0 0 0 J -D 2 d g o ld in c 6 s .....................g'MOO Al at I jU D iv B D 1 s t g 5 s .........1931 J . J W M in W & N W l s t g u 5 s ’J0 E-A L’o l & O C 1 s t g 5 s ___ .” . .. 1 9 3 0 J - J W e s te r n D iv 1 s t g 5 s . . .1 9 3 5 A-O G e n e r a l g o ld 5 s .................. 19 3 5 J -D K an ifc Al 1 s t g u g 4 s ___ 1 9 9 0 A-O J -J I 'o lS tD tfc W p r l ie n g 3 *2 8 .1 9 2 6 J - J 5 0 -y e a r g o ld 4 s .................. 1 9 5 0 A-O l'or H a m So Butt 1 s t g 4 s ./ il 9 4 ( i J -D 1 | Inter tfc D e l 1 s t c o n g 5 s 1 9 2 8 J -D A-O J -J R e g is t e r e d ........................ 1947 j . j 1 st & r e t 4 s ........................ 4)2008 M -S 2 0 -y r c o n v 4 s ......................19-37 J - J (jrti R y A* N a v c o n g 4 s . 1 9 4 0 J -D Oro S h o r t D in e I s t g 0 s . . l 9 3 2 F-A 1 s t c o u s o i g u s .................19,19 J - J G u a r ro tu n d 4 s .............. 1939 J -D R e g is t e r e d .................... 19 3 9 J D J -J U n i N J R R So C Co See P a I n t no 100*4 Bale 1 0 0 34 l o o ^ 32 9 8 7» .......... 100 M ay’0 9 9 7 7» 9 8 97 7# J ’l y ’09 . . . . 90 R ange Sin ce Ja n u a ry l IDO3, D e c ’08 1 27 *8 O ct ’02 110 M a y ’dO 107 O c t ’0 8 110 F o b ’09 1 0 7 7s J ’l y ’09 108 J ’l y ’09 113 v, 1 1 0 °s 114 110 1s § 0 uD ueA pr « D u e M ay M-S A-O j .j A-O A-O FA F-A M-N AI-S J -J J .J i/D u e jiie 92*2 92*4 41 O c t ’OO 90*a J ’l y ’00 .......... 95 V, J ’l y ’09 1 0 0 J a n ’08 47 A p r ’08 9 2 Hi P a le 95 3 92 94 90 91*2 93*4 95*2 95 95 7 9 2 »4 95 7 0 's 70*, 200 0 9 77 8 5 J ’l y ’09 84*s 88*4 yG A ug*oy 9 1 Hi.......... 9 4 J ’n o ’09 ill 94 9 0 J a n ’09 90 90 95 95 05 .......... 95 J ’l y ’09 100*2 S e p ’05 112 J ’l y ’04 91 91 23 8 9 90 91 03 A Due j i y pD ueN oY s O p tio n s a le 70*4 S a le 8 2 Hi 87 QHTQAGrO STOCK EXCHANGE Stock Record—Daily. Weekly and Yearly sto ck Saturday A ug 7 :;— h i g h e s t M onday A ug 9. *212 3 *212 3 *10 12 *10 12 *108 112 *108 112 *371o 39 *3712 39 * 2 3 li 25 *23l2 25 *9% 10 *912 10 2178 23 23 24 49 49 49% *47 *83 84 84 *83 18 *151 *1512 18 49 49 49 49 21 *19% 21 *191 *GS 70 70 70 *551; 58 *5512 58 47 47 46*2 46% *10U 2 103G *10112 10312 12% 833, *208 *130 073, *108 *16 *54 *54 *1 *2 *24 134 *142* 144“ * 142' *120 120% 120 129% 1 3 0 ’ *18% 49 *43 46 *10S" *126% *94 *118 115% 108'% 127 97 120 116% 129% 48% *43 *108’ *126% *95 *118 115% ’ 97% 97% ' 97% *114% 115 *114% 113% 114% 112% *140 103 145 1 1 "l4% *14% *19 20 * ’. 1 14% 18% lo w est s a l i: p r ic e s Wednesday Aug 11. *212 3 *212 3 *10 12 *10 12 *108 112 *108 112 *3712 39 *3712 39 *2312 25 *23*2 29 *912 10 *0l2 10 23 24 221, 2312 *47 49 *47 49 8318 831S 8318 8318 *15*2 18 1512 173, 481, 4812 49 49 *19>2 21 20 20 *08 70 70 70 *5512 58 *5512 58 4 6 ', 4612 4512 46 *10112 103% *10H 2 103U Thursday A ug 12 Last Last Last Last Friday A u g 13 Sale Sale Sale Sale *37 38 Last Sale Last Sale 2234 60 83% 18 50 20 70 57 45% 22 *48 *83 *15 *48 *19 *69 67 45 L ast Sale Sales oI the Week Shares STOCKS C H IC A G O S T O C K EXCHANGE Range stncJan. 1 1909 1278 841 i 210 135 671 110 12% S4I4 *208 +130 *67 *108 , R a ilr o a d s 180 A pr’09 C h ic a g o C ity R y _____ 21., J u ly ’09 C h ic a g o dfc O a k P a r k . 10 J u ly ’09 D o p r e f . ^ ................. . 119% J u ly ’09 C h ic R y s p a r t c t f ”1' 38 38 C h ic R y s p a r t c t f “ 2 ’ 25 Ch c R y s p a r t c t f ’’3 ’ 9% J u ly ’OC Ch c R y s p a r t c t f ,,4' 20 5,735 C h ic a g o S u b w a y ___ 22 100 55 H a n s C ity R y & L t _ . 100 *48 50 S234 145 831; D o p r e f____ 100 *15 33 M etro p o l W S ElevZZ 100 18 254 *48 60 D o p r e f____ 100 *19 20 50 N o r t h w e s t e r n ElevZZ" 100 70 17 *69 D o p r e f ________ 100 27 S o u th S id e E le v a te d ~ 100 56 56 45 45 835 S t r e e t s VV S t a b le C L . 100 10U2 July'09 D o p r e f____________ 100 123,, 12i 2 1314 84*4 831, 8 5 l2 . . . *210 215 135 Last Sale 6712 *67 68 110 Last Sale Chicago Bond Record IJQ N D S C H IC A G O S T O C K EXCHANGE Week ending Aug 13 Inter esi Period Price Friday Aug 13 HUl IFeeVj Range or Last Sale k Low lligl (1908) 180 M<-h 8 190 F e b 214 J ’ly 2t 4 J a n 22 9 J a n 21 15 Jnn 22 107 J ’ne 11912 J ’l y 28 36 J ’n c2 3 4534 J a n 25- J ’l y : 2 30 J a n 29 9 M ay 3 13i2 J a n 16 J ’l y 21 2914 J a n 35 F e b 24 52 J ’ly 79 J**n s 86% M ay] 8 15I2 A u g l l 19 M ch 47 Ian 14 64 J ’n e 20 A u g l l 25 M a y 6 63 .!>n u 73 M a y 7 50 Jar. 25 61 M a y ) 29U A p r 13 5134 J ’n c 19 97 F e b 15 107*2 J ’n e 18 100 Jan 1% F eb 66 D e c b4*4 j iv 38 O ct 20 N o v 934 S ep 15 F e b 30 O ct 68 S e p 1214 N o v 42 J a n 13*4 A u g 46 A u v 42 A u g 2 6 i2 A p r 85 A p r 185 D e o 3% A u g 10 A u g 119 N'ov 47 J 'n o 28 D e c 13i2 D e c 3 0 i2 D e o 4734 N o v 86% N o v 19 J a n 54 M ay 22 D e c 6212 D e c 71 J a n 34 N o v 103 J ’ne V s J a n 30 14ig M ay2o 71*4 J a n 6 86 J ’n e 4 200 J a n 1 210 A u g 10 126 J a n 21 132 J ’ly 21 541a A nr 21 6 ,3 4 A u g 7 101 F e b 24 110 J ’n e 12 is J ’n e 10 1 Jan 14 M ay22 5 Jan _ 10 M - 24 17l2 A u g 13 48 J ’n e 16 67 J ’no 61‘4 J a n 68 A p r 10 1 A p r 27 1 A p r 27 21* A p r 27 2ig A p r 27 20 M ch24 27*g J a n 127 J a n 136*2 A u g l 2 4 Feb 41% Jan 125 J a n 116 A pr 37 Mo'91 J a n 7g D e c 3 D ec 10*8 N o v 767g D e c 200 D e c I28i4 N o v 63 N o v 104 N o v 30 J a n 100 M ay 40 F e b 1 O ct 2 N ov 20 D e c 106 J a n 34 F e b I0O J a n 80 J a n 67*4 D e c 1% A u g 4 Apr 3 0 l2 A u g 163 S e p 2*4 F e b 116 D e c 110 O c t 113 30 38 137 A u g 4212 D e c 46 J ’l y 117 J a n 18 107 J a n 21 17ig F e b 25 7014 M ch 25 117 J a n 9 38 J a n 26 43 J a n 5 161 J ’ly 27 12U2 J ’ly 1 25ig A u g 3 881 „ M a v lP 13034 A u g 13 61 J ’ly 28 45 F e o 2012 A p r 27 21 J ’n e 28 97% J a n 2 109 J a n lb H 8I4 F e b 15 127 J ’l y 20 82 J a n 14 99 A u g 13 110 J a n 15 120 A p r I 102 J t i i . 118% A u g 13 12 F e b 25 1 ■ill 65 J a n 5 IOOI4 A u g l 2 101 J a n 5 110 J ' n e i 4 100% Jr. / 9 1141, A u g 6 6 F eb 5 20 J a n 18 119 J a n 5 152 J ’l y 28 98i2 J a n 2 10312 A u g 12 % F e b 19 1% M o h 2ti 214 F e b 26 318 M ch 2 334 M ch 10 912 J a n 4 10l2 M rh y 163g J ’n e 5 15 F e b 16 25 M ch 15 Jan Jan J ’m 19 J ’n e 70 J a n 101*4 J a n 51 Mch 91 Mch 80l2 J an 20 97 120 87 115 106 J ’l y D ec Aug D ec N ov D eo 24 J a n 72 J a n 88i2 J an 56 D e c 102 D e c 10534 S e p 114*4 J a n 87 J a n *4 J ’ly 134 J a n ICO J ’l y 1*4 J a n l i 2 J ’ly 12 11*4 O ct Jan "I?” A p r Chicago Banks and Trust Comnanies 1Sold i'ds No Range lor Year 1909 Low __ n a m e . Outstand ing Stock t High s B a n k c r s N a t i o n a l A m e r S t r a w b ’d 1 s t 6 s 191 i . 100 Mcb’0' A r m o u r & Co 4 > * s ____1939 J - D 19412 S a lee 94% 9434 13 94% 06% A u ro r a E lg in & C h ic 5s 1 941 A Cal & S o C h ic R y Co 1 s t M 5 s ________ 1027 F - A . . 102 J’n e ’Oy 102 1021-, C ass A v & F G (S t L l ' 53’12 J . 101%Feb'09 101 101% O hio B o a r d o f T r a d e 4 s l9 2 7 J . 100 M ay’07 C h ic a g o C ity R y 5 s ___1927 F 103i2 S a lee 103% 1035. 103% 105" O hio C o n so l B r& M It 6s ____ J - 103 Apr’0< ___ O hio C o n so l T r a c 4 J $ s -1 9 3 9 J - D . 50 Apr'0- ____ 50“ C h ic A u d ito r iu m 1st 5 s l9 2 0 F 96*4 J a a ’06 . . . . C h ic D o c k C o 1 st 4 s . . 1929 A C h l o J c R R 1 st M g 5 3 .1 9 4 ;, i l .... C h ic N o S h o r e E le c 6s . 1912 A - O Z *87* Feb'Ob O hio P n e T o o l 1 s t 5 s _ a l9 2 1 J e 77% Aug *09 7 72 77*s C h ic R y 5 s ________ 1927 F 2 101% l u l l , 3 10078 102*4 C h E R y s 4 -5 s s e rie s ” /V A ■ 0578 96 96 Aug'Oii 0312 96l4 C h ic R y s 4 -5 s s e r ie s ’ ’ B ’ e 865s 80% 15 8434 8912 9 0 i2 C h ic R y s 4 -5 s s e r ie s ’’C’ 2 SDiJ J 'n c'06 89 91 C h ic R y s coll 0 s . . . 191 3 - 101% 101% 1 10U 8 102% C h ic R y ; F u n d 6 s ____ 1913 4 101%July'01 10112 10238 C h ic R y s T e m C tts 1s t 5 s . 2 10114 A u g’0'J 101 10212 C h ic R I & P R R 4 s . .2 0 0 2 . 00% Aug’08 - S C o lla t T r u s t g 5 s ___ 191 3 . 60% J ’lv 0 8 101* 101% C lU c T e le p h o n e 5 s ____ 1923 J - D 103 103 103 20 102*4 10334 C o m m o n w - Ed Ison 5 .194 3 M - S 1023S 1U2% 7 101 1031 C h ic E d is o n d e b O s lO U 100 Juue’Oa 1st g 8 s -------J u ly 1920 A - O 10O58J u ly ’09 1003, 101% D e b e n tu r e 5 s ___ 1926 10058 100% M 1 100% 102% C o m m o n w E le c t 5s6194.: M 102 103 l0234July'09 102*4 103% I llin o is T u n n e l 5 s ____ 1023 J - D 80 Doc '08 — K a n C it y R y & L ig h t 1913 n - N C o 5 s ____________ 9834 J’ne'09 98 98% K n lc k ’b ’k er Ico 1s t 5 s Z l9 2 8 A - O 90 M oh'09 95 96 L a k e S t E l— 1 st 5 s . . . m s 90 J u ly ’O'J 73 91 I n c o m e 5 s ___________1925 F ob 16 May'Oo — M etr W S id e E l— 1 st 4 s -----------------------1938 S312 84% 84% 3 83 S6I0 E x t e n s io n g 4 s ______1 9 3 * 8378 J'ne'09 8212 84% N o r th W e s t El 1 s t 4 s __1911 M 96* 95% 90% 34 92% y o u N o W G -L do C ok e Oo 5s ’28 Q - M 08 98 98 1 08 09 " O g d e n G as 5 s __________ 104 5 < - N 9Gb 97 97 3 93 98 P e a r s o n s -T a ft 5 s ---------l o i o - D 100 10038Mch’09 100% 100% 4 .4 0 s ___________________ M - S 96*4 97 Mch'09 96*4 98 4 .0 0 s S e r ie s E ___________ M - N 98 98 J'ne’Oy 98 99% 4 .8 0 s S e r ie s F ___________ M - N 99 100 Moh’09 100 100% P c o G as L& C 1st 6 s . .1 9 4 3 - O 12134 May’09 120 122 K efu n U In g g 5 s ____ 1947 103% 103*a 103 M 5 103 104 O hio G as LdeC 1 s t 5 s 103? - J 10 H8 104*4 104%July’00 104 104% C o n su m G as 1 st 5 s . 193 0 - D IO2 I4 102% July’0 j 102 10234 „ M u t’l F u e l G as I s t 5 s l 9 4 7 M - N 1102 102*4 102 Apr’09 101% 102 S o u th S id e E le v 4 ^ s . l 9 2 l - J 94% 95 94% 95 13 9412 90% S w if t do C o 1 st g 5 s . . . 1 9 1 4 - J 100*7 1011 101% 101% 2 10012 102 U n io n E l (L oop ) 5 s . . . 1 9 4 5 A - O 95 J ’n e ’09 92 96 H u lo n P a c lflo c o n v 4 S .1 9 1 1 ■ N 114 Nov'0-1 W nl.ted B o x B oard col 6 s ’26 180 S a le 80 80 6 "70* 80*2 G en er a l m tg 6 3 _________ 179 80 80 A ug’09 70% 81 W e s te r n S t o n e C o 5 s __1909 85% J ’, y ’0 8 | . . . N ote — A c c r u e d In ter e st all C h ic a g o ! bon J o n t h is d a y . -s Range ;cr Previous Yeat Highest M is c e lla n e o u s 123, 13 3,755 A m e r ic a n C a n ________ 100 1,818 8 4 l4 85 D o p r e f____________100 *208 212 10 A m e r ic a n R a d i a t o r .. 100 132 J u ly ’09 Do p r e f ____________100 *67 68 A m e r S h i p b u i l d i n g . . .1 0 0 110 A u s ’09 Do p r e f____________100 Isisl Sale % J u n e ’09 B o o t h (A) & C o ...........100 Last Sale >4 Ju n e’09 Do p r e f........................ 100 10% 16 161* 163., 1714 161* 17 1714 17% 1,832 B o o th F is h e r ie s c o m ____ 541g 5414 54l2 54 541 6 4 l2 56 56 561, 1,871 D o p r e f ________________ 55 *54 55 *54 Last Sale 55 65 A u g ’09 Cal & C h ic C an al & D . 1 0 0 *1 1'8 *1 Last Sale 1 l's J u ly ’09 1'8 C h ic B r e w ’g & M a lt’g ___ 3 *2 3 *2 3 Last Sale 2i8 J u ly ’09 Do p r e f ___________ . . . 25 *24 25 25 25 *25 27 26 26 177 C h ic P n e u m a t ic T o o l . 100 134 135 13478 135 135 13512 135l2 1351. 425 C h ic a g o T e le p h o n e ___ 100 Last Sale 214 ilch'OS D o r ig h t s _____ _______ 144” *142’ 14*4” *142" 144*' *142 ... 142 142 100 C h ic T it le & T r u s t . . . 100 120 120 120% 120 120 *120 121 12018 1201, 134 v o m m o n w ’th - E d is o n . 1 0 0 Last Sale 25 A u g ’09 C orn P r o d R e f C o C o m . . . l/is t Sale 881* M ay'09 Do D o P r e f ___ 130% 129% 130 * 129*4 130 " 1301, 1301* 1303, 13034 315 D ia m o n d M a tc h ______ 100 49% 49 50 *49 49*4 4934 4978 766 I llin o is B r ic k __________ 100 49% 50 45 *43 45 *43 45 Last Sale 44 June’09 M a so n ic T e m p le _____ Last Sale 2i8 June'07 M llw & C h ic B r e w in g Last Sale 21 J u n e’09 D o p r e f ____________ 108% 167' IO7” *107" 1 0 8 * *106 107 *106 108 100 N a tio n a l B i s c u it ______ 100 127 “ *120% 127 *120% 127 127 127 *125 127 55 D o p r e f . . .....................100 93 96% 96% 90% 96% 97 93 99 99 92 N a tio n a l C a r b o n ______ 100 120 118 118 *118 120 ♦118 120 119 119 57 D o p r e f . . __________ 100 115*4 115*4 115*4 115*4 115*4 11578 11712 1163, 1181* 5,170 P eo p lc'isG a sL ,& C o k e__100 Last Sale 11-16 M ch’09 D o r ig h t s _____________ 9 8" ~98" 98% *98% 99” 99>2 1001., 100 100U 4,499 S e a r s -R o e b u c k c o m . . 100 115 *114*4 110 *1M34 n o Last Sale 1143, A u g ’09 „ D o p r e f ____________ 100 113% 112 112% 111% 112% 112 112% 111 1121, 4‘, 556 S w if t & C o ................... . . 1 0 0 Last Sale 7 F e b ’09 D o r ig h t s _____________ 150 148 148 150 150 148 148 *145 24 T h e Q u a k e ■O a ts C o — 100 150 103 103 103 103 103 1033s 10J12 *103 105 10312 D o p r e f......... ................ 100 Last Sale U* A pr’09 U n it B o x B d & P C o . 100 Last Sale 3 A p r’09 D o F u ll p a id ________ Last Sale 7*4 Apr'09 D o p r e f _____________1 0 0 *14% *14% T a“ "14 *4 ’14% 14l2 14% 665 14 14l2 D o F u ll p a d ................ 18% *19 20 *19 20 *17 20 75 W e s te r n S t o n e _______ 100 *18 20 13 13 13% 12% 84 841,, 85 84% . . . *208 ... 210 135 *130 135 *130 073, 0712 073, 67*2 110 *108 110 *108 161 16 54 6412 55 *54 *1 l% *2 3 25 25 1341, and Tuesday Aug 10. . C a l u m e t N a t i o n a l ______ C h ic a g o C i t y . . ~ " s C o m m e r c ia l N a t i o n a l I " C o n t in e n t a l N a t io n a l C ook Co S ta te S a v in g s" ' C o r n E x c h a n g e N a t io n a l D r c x e l S t a t e ___ D ro v e rs D e p N a t lo n a l l" " E n g le w o o d S t a t e _______I F i r s t N a t i o n a l _________ I F irs t N a t E n g le w o o d .. F o r e m a n B r o s B ’k ’g CoZ F o r t D e a r b o r n N a t io n a l H a m il t o n N a t i o n a l ____ l l b e r n l a n B ’k ’g A s s n . . K a s p a r S t a t e B a n k _____ L iv e S t o c k E x c h a n g e N a t M o n ro e N a t i o n a l - _____ S a t B a n k of R e p u b lic - -. N a t io n a l C i t y ____________ N a t io n a l P r o d u c e ______Z N o r t h A v e n u e S t a t e ____ N o r t h S id e S t a t e S a v in g s N o rth W e st S ta te P r a i r i e N a t i o n a l _________ P r a i r i e S t a t e _____________ R a i lw a y E x c h a n g e ____ S e c u rity S o u t h C h ic a g o S a v i n g s . S t a t e B a n k o f C h ic a g o - . Shook Y a r d s S a v i n g s ___ U n io n B a n k o f C h i c a g o . . U n io n S t o c k Y a r d s S t a t e A m e r ic a n T r u s t & S a v g s . C e n t r a l T r u s t C o o f I II . C h ic a g o S a v B k & T r ____ C h ic a g o T i t l e & T r u s t ___ Cl U r e a s T r u s t & S a v in g s O o lo n ta l T r u s t ds S a v in g s D r o v e r s T r u s t do S a v in g s F a r w e ll T r u s t O o ________ F i r s t T r u s t dc S a v i n g s ___ G u a r a n te e T r u s t & S a v . r t a r r t s T r u s t do S a v i n g s . I llin o is T r u s t & S a v i n g s . K enw ood T ru s t & Savgs L a k e V ie w T r u s t & S a v g s M e r c h a n ts ’ L o a n db T r C o M e tr o p o li t a n T r u s t & S a v N o r t h e r n T r u s t C o _______ N o r t h - W e s t e r n T r A; S a v P e o p le ’* T r u s t & S a v in g s P u l lm a n T r u s t do S a v in g s S h e r id a n T r & S a v B a n k S t o c k m e n ’s T r u s t & S a v U m a n T r u s t C o ................... w e s t e r n T r u s t & S a v in g s W e s t S id e T r & S a v B a n k W o o d la w u T r d c S a v B a n k S u rp lu s and Profits Dividend Record tn 1907 in 1908 Per tod Last Paid % $2,000,000 1,284,770 8 8 Q-J> June 09,' 2 100.000 36,270 0 0 An Dec ‘08. 6 500.000 190,74! 10 10 1-.1 July '09, 5 3 .0 0 0 . 000 4,344 64(J 12 12 y-J J u ly ‘0y; 3 n i , 000.000 3 ,9 5 2 ,8 ,! 8 (+.1 Ju ly 09.' 2 8 50,000 6,27y 6 Q-.N July *09,' 1% 6 8 .0 0 0 . 000 5,1 8 9 ,9 0 s 12 12 O ') J u ly '09. 3 200.000 37,245 6 0 A-C Apr '06. 2% 600.000 413,275 8 9% O-J J u ly '09, 2% 200.000 3 3 ,9 0 0 0 0 Q -i J u ly 09, 1% 8 ,000,000 8 ,2 2 /,36-> 12 12 Q-N r n e 3 0 09; 4 150.000 165,042 10 Q-M J ’n e30'09 2% 10 1,000.000 5 5 5 ,o9h I’rir ate Ba nk 1.000,000 436,905 8 8 Q-l July ’09, 2 600.000 160,507 5 5 J-J J u ly 09, 2% 1.500.000 806.041 8 8 Q -l J u ly ’09. 2 200,000 118,250 10 10 J-J J u ly '09. 5 1.250.000 396,830 ____ 1 0 + 2 Q-M J'e 30 '09,2% 3 0 0.000 63,178 4 4 Q-F Aug 1 09, 1 2,0 0 0 ,0 0 0 1,164,839 8 8 Q-l Ju ly "09, 2 1.500.000 520,471 ____ i Q-l J u ly ’09, 1% 250.000 06,685 July '09, 1 200.000 67,729 . . . . 2% Q-i Ju ly ’091 1% 60,000 12,102 6 6 Q-l July ’097 1% 200,000 9,162 — — . . . . luiy '09, 1% 250.000 72,004 600.000 45,540 8 8 Q-M June '09, lio 250.000 6,141 4 2 Jan ‘08/ 2 300.000 146 102 ____ lu ly '09, 1% 200.000 78,17b 0 6 Q -l J u ly '09, 1% y 1,000,000 1.414,764 9 + 1 11 Q -l J u ly Vy, 3 250.000 179,358 0 J-D June 3 0'0 9 .2 7 200.000 42,720 0 6 M-N May ’09. 3 200,000 05,024 0 6 Q -l Ju ly ’09; 1% 3 .0 0 0 . 000 2,709,694 8 8 Q-J J u ly '09.' 2 2 .0 0 0 . 000 794,820 7 7 Q -l Ju ly ’09; 1*4 n500.000 80,508 . . . . 1% Q -l J u ly tl9, 1%’ 5 .0 0 0 . 000 6 1,208,619 0 Q -l July ’09, 1% 50,000 3 8,451 4 A -O Apr 09. 2 6 0 0,000 500,471 10 8+2 Q-J July ’09, 2% 200.000 OS ,3 /o 6 7% Q -l J u ly ’09,' 2 1.500.000 218,081 . . . . Q-J Ju ly ’09, 1% 2 .0 0 0 . 000 ’,605,231 - . __ Q-M lu ly ’0 9, 4 200,000 7,409 incorp orated 1908 V 8 7 ,p .l]« " 1.250.000 .051,962 . . . . 0 Q -l July •09; 5 .0 0 0 . 000 ,386,842 16 + 4 16 + 4 7 June 3 0 1 )9 ,4 200,000 44,669 6 6 Q -l July V0J U 4 200.000 34,889 2 4% Q-J Ju ly '09, 1% 3 .0 0 0 . 000 12 ,9 83,232 12 Q-J July D9, 3 760.000 6 0 239,385 Q-J J'ne ‘09, 1% 1.500.000 8 8 ,1 38,833 Q -l lu ly 09. 2 200.000 6 51,650 6 l-l luly Dg,1 3 200,000 6 6 98.577 Q-J luly '09,’ 2 600,000 fiS 1 /7 ,7 4 3 8 Q -l luly '09.' 2 200,000 20,000 Beg. b US.J'ly 12 '0 ) V .8 9 .P .141 200,000 26,3 3 5 5 J-J luly 09,’ 2% 1 .0 0 0 . 000 ,138,511 — . 8 J-M iu n e30’09, 2 1,000,000 204,073 6 6 Q-J [u ly ’09.’ 1% 200,000 59,330 Began buslne 33 Sept 5 1908 2 00,000 35.920 0 6 U -.l lu ly '09. 1% BOSTON STOCK EXCHANGE—Stock Record. Daily, Weekly and Yearly S H A R E P R IC E S— N O T P E R C E N T U M P R IC E S Saturday A u g . 7. Wednesday A ug. 11. Tuesday A u g . 10. M onday A u g . 9. Thursday A u g 12 Friday A ug 13 Sales ol the Week Shares STOCKS B O S T O N STOCK EXCHANGE Range since Jan. 1 1909. Highest Range lor P-evious Ycax (190S) Highest R a ilr o a d s 10U.4 D e c 07:,s F eb 98 J a n 13 120*4 A u g 12 458 A tc h T o p & S a n ta F c .lO O 12038 12034 120l2 120* IOB4 D e o 8 3 i2 M el 12012 1193s 120 D o p r e f ____________ 100 1003, Jar. 15 106 J ’n e i 10434 19 230 D ec 1811 o J a n 10514 *105*4 105*2 105 105*4 *104 23914 A p r S 225 J a n 1 230 141 B o s t o n & A lb a n y -------100 140 J a n 12l*o D e c ____ 230 230 *229*2 ____ 230 132*8 A p r 22 124l4 J a n 7 B o s to n E l e v a t e d _____ 100 189 1273s 1273s 228 D e o 200*4" F e b 1273s 1275s 12738 *127 128 236 M cll 19 224 J a n 12 228 97 B o s to n & L o w e ll--------- 100 228 228 * ____ 140 J a n 225 225 111 O ct 228 150 J ’n e 15 175 B o s to n & M a in e ______ 100 132*2 J a n 2 160 A p r 3 146*2 14612 147 147 156 J a n 147 147 136 F e b 147 D o p rer____________ 100 151 F e b 26 Last Sale 152 J u ly ’09 301 N ov J a n 284 301 J a n 9 B o s t o n & P r o v i d e n c e - 100 297 A p r 26 Last Sale 298*2 J u ly ’09 *3 00 ____ 300 13 M eh 9 Mel 22 F e b 3 1134 J a n 2 *29812 300 * _____ 300 * B o s t o n S u b u r b a n El C o s . 17 17 18 18 18 £8 N o v 45 J a n 17*» *17 17*2 *17 1712 *17 75 F e b 3 *17 60*2 J a n 5 D o p r e f ________________ A u g ’09 Last Sale 70 *____ 70 17 J a n * 7 70 81; N o v 14*o M eh 12 70 * 10 M aylO B o s t o n & W o r E lc c Cos J u ly ’09 Last Sale 13 13 6 012 J a n 4712 D e c _____________ ____ 13 * ____ ] * ____ 13 * 6S*2 A p r 2) 52 J a n 5 D o p r e f -----------------------151>4 D e c 126 J a n 162 J ’nc2 3 5412 54l2 *521; 5412 *5212 54* * ____ 5412 *5212 f .’a n 25 143 C h ic J u n e R y & U S Y .1 0 0 Last Sale 159 A u g ’09 120l2 D e c 102 J a n D o p r e f ____________ 100 116 M c h l9 123 J ’l y 6 120 . . . 120 * _____ 120 * _____ 165 M eh 163 D e c 120 121 120' 1 2 1 ' * _____ 121 Con & M o n t. C lass 4 . . 1 0 0 170 J a n 26 173 Meh 5 Last Sale 170 J u ly ’09 *168 170 138 A p r 133*4 S e p 14212 M eh 25 J a n 2 139 C on n & P a s s R l v p r e f .1 0 0 Last Sale 13912 Ju n e’09 263 D e c 244 J a n *137 --C o n n e c t ic u t R iv e r — 100 267 J a n 15 275 M eh 10 Last Sale 270 Ju n e’09 133 N o v 117 Jan *27212 275 *27212 275 *27212 275 136 F e b 5 . 190 F itc h b u r g . p r e f ----------- 100 129 J ’ly 29 131 131 *131 86 D e c A p r 07 131 131 *130 131 130 130 9434 J ’n e 16 130 130 J a n 6 75 *94' 9412 5 G a R y & E le c tr ic ____ 100 *94 9412 85 D e c *94 9412 O ct T *93*2 9412 88 J ’n e2 1 9212 9212 9412 *93 79 J a n 14 D o p r e f ____________ 100 A u g ’09 Last Sale 88 ■____ 88 * ____ 88 193 N o v 193 N o v 88 * ____ 195*4 J a n 13 195*4 J a . 13 M a in e C e n tr a l------------100 195*4 J a n ’09 Last Sale 1334 N o v *195 ... 8*4 J a n 15 F e b 15 11*4 J a n 12 *12*2 13 335 M ass E le c tr ic C o s-------100 *121- 13 64 N o v ’ l27s "l27s *1212 13 40 J a n 13 13 75 J ’ly 20 ' l 27s ~13 58*2 J a n 15 D o p r e f ____________ 100 434 7334 74 73*4 73*4 161 N o v 73*2 74 Jan 74 743; 74 7312 74 74 I747g J ’n e l 157 J a n 21 N Y N H * H a r tfo r d -1 0 0 17134 17134 626 145 A p r Jnc 171 17134 171*2 171*2 171*2 17212 17134 17134 1713i 172 18 N o r th e r n N H ________ 100 146 F e b 4 149 A u g 9 205 F e b Apr 149 149 *149 N o r w ic h & W o r p r e f - 100 200 A p r 13 209 M en 13 Last ~Sale 260" Aprif’09 196*8 D e c Jan 200's J a n *8 J a n 5 194 O ld C o lo n y ___________ 109 200 200 68 200 200 34 D e c Jan 200 200 *197 200 *197 200 40 J ’n e 5 *197 200 26 A p r 27 20 R u tla n d p r e f -------- - . 1 0 0 *36*2 40 *36*2 40 95 D e c *36*2 41 Feb 36*2 3612 *36*- 40 *3612 40 90*4 M eh 2 116to A u g 12 102 D e c 113 115*2 115*4 116*2 11612 110*2 1.012 S e a t t le E le c tr ic -----------100 112 113 110 112 108 109 88*8 J a n 10612 A u g 4 97*A p r 5 D o p r e f ____________ 100 105 106 144 104*2 104*2 105 105 * ____105 186*8 N ov ■____105 110*2 Meh 104 104 2 1434 A u g 13 20973 2143.1 1,997 U n io n P a c ific ------------- 100 zl727s F e b 20 208 208 973g N o v 7834 A p r 20314 204 20518 205*8 2047s 205*8 204*2 2063s 100 108 931- M eh 2 I147g A u g 13 108 11478 D o p r e f ____________ 100 167 161 N o v 150 J a n 105 105 *104 1041 *10412 104<>8 +104N 105 175 API 17 165 J a n 20 V e r m o n t & M a ss-------100 22 91*2 S e p 172 172 *172 — 76 J a n 98*8 A p r 23 88 J a n 2 57 W e s t E n d S t ----------------- 50 95*2 9512 *95*2 " I I 10 D e c 95*2 95*2 9612 "*9612 96 96 96 J a n *95 — D o p r e f ______________50 103 J ’n e 2 5 112 A p r 27 108 32 100 106 *100 140 M eh J ’ly *105 ------ lOSU 10514 *105 106 *106 138 146 M aylO 144 M eh 12 W o r e N a s h & R o c h 1 0 0 Last Sale 145 J u ly ’09 M is c e lla n e o u s N ov 13 J a n 50*4 A u g 12 4S3s 5.722 A m cr A g rlcu l C h e m _ .1 0 0 483S 33*4 J a n 2 49*8 50*.j 48*; 497s N ov 4S34 49 48*4 4S?8 483, 49*8 77 Meh 94 J a n 18 105 J ’l y 23 D o p r e f ____________ 100 1.061 103 10334 103 103*2 *103*2 101* D ec 103 105 *____ 105 103 104 4 F e b 978 F e b -'3 55s .Jan 26 812 8 8*4 8*4 8*8 2,022 A m er P n e u S e r v i c e . _ 50 D ec 8 8 8 8 81 2 Feb 22 J ’n e 14 *S 8*2 9* 13 J a n 13 D o p r e f ______________50 19*4 20 480 19*4 19*4 19k 19*4 137*8 N o v 19*8 19*8 191 99*4 J a n 136 A p r 8 *19 19'2 *19 133* 1.980 A m c r S u g a r R e fin — 100 121*2 J ’n e2 2 131 A p r 13 132 N o v 106 F e b 132*2 13418 133*2 13334 133 1333g 134*8 134*8 *132*2 131*8 133 D o p r e f ____________ 100 120 J ’n e 2 6 127 12712 1,008 127 1277s 127 127*4 126 1271 13212 N o v 143*2 A u g 2 1257S 127 99 J a n 125*- 120 125*4 F e b 1 A m e r T e le n & T e le g -.lO O 14214 1 4 U 2 6,535 142 14212 323g D e c 16 J a n 393S A u g 9 14212 143's 142*2 143*8 142*4 14234 142 142\s 27*2 F e b 4 38 38 302 A m e r ic a n W o o t e n -------100 38*2 38*2 3S3S 38*2 90 l 2 N o v 39 39*4 39 393s 7734 F e b 39 39 93*2 J a n 15 108 J ’n e l ) D o p r e f ____________ 100 104-g 10412 10434 105 1,295 4l2 D e c 3 Jan 10534 IO6I4 106 106*4 106 IO6I2 105 106 7*2 A u g 3 334 Apr 1 B o s t o n L a n d ----------------10 *718 50 *712 8 *71» 8 128 N ov 7*4 7*4 96i 2 J a n 145*2 J ’ly 29 *7*2 8 *7*8 14 C u m b T e le n & T e le g .1 0 0 125 J a n 25 21i4 D e c 1434 J a n 112*0 142*2 *14212 145 *142 143 *143 " 145 46*4 J ’ly 19 *143 145 *143 145 D o m in io n I r o n & S t e e l . . 18*2 J a n 11 *45*4 46 500 8*s N o v 4*4 Meh 45 45*4 4534 137S J ’**e “ *45 7 J a n ' E a s t B o s t o n L a n d ----------530 11*2 H7S 113, Tl*34 i n i ' . 12 201 Meh 253 N o v 117S 1 17S 260 A p r ' I k' s "12 12 12 254 254 77 E d is o n E le c I li u m -----100 245 J a n 2 173 A u g 254 “ 254 162 D e c 111 J a n 254 254 *250 254 254 254 254 254 139 G en er a l E le c tr ic ---------100 l503g F e b 24 60 D e c 17034 17034 171*4 172*2 49 M eh 6712 A p r 12 171 171 17134 172 173 173 M a s sa c h u se ttsG a s C o s 100 59 J a n ' 65* 1,485 643g 65*2 "051 90 N o v 77 J a n 97 A p r 23 04*8 04*2 64*0 65 64 6412 6412 *64 89 J a n 5 D o p r e f ____________ 100 *9034 91*4 355 9034 91 N ov 215 903 1 903.) 192 A pr 220 F e b 17 91*4 91*4 91 91 *9012 9114 212 21214 187 M e rg e n th a le r L in o — 100 202*2 M eh 12 3 O ct 1 Meh 212*8 212*8 212 214 --3 M eh 29 *211 21212 *211*2 - - - *211 2 J a n ‘ M e x ic a n T e l e p h o n e .. 10 369 *2 3 78 N o v M el J ’n c l i *2 3 40 *23, 3 98 *234 3 2*8 2?s 63 A p r 24 95 ‘ 88 N E C o tto n Y a r n ____ 100 *95 95*2 *95* 93 D e c J ’n e ir, 95 95 75 M eh 95 • 95 95 95 * ____ 9512 93 J a n 2 110 A u g 12 D o p r e f ____________ 100 106*2 1061; 40 128 N o v 105 J a n 138 *104*2 106*2 106 106 *106 108 * ____106*4 137 137 ‘ 263 N E T e le p h o n e _______ 100 126*4 J a n 137*2 138 79 D e c 51l2 J ’ne M ay27 100 13731 I .3734 13734 13734 *137 138 *13634 138 75 F e b 25 P a c ific C o a s t P o w e r . .1 0 0 100 100 174l2 N o v 147 J a n 99 99 Aug * *96 100 *96 100 ■*96 100 1 9 9 " 199' 326 P u llm a n C o ----------------- 100 168 J a n 30 199 101. N o v 9 A pr _11*2 J ’n e 11 199 199 *198 199 199 199 199 199 199 199 934 J a n 11 10 R e c c e B u t t o n - H o l e .. 10 11*2 *11 11*2 *11 I08*o J ’ly 11S8 1 *3,8 8S*o J a n 114*2 A u g 6 *11 11*2 11*2 *11 11*2 *11 1123s 3,231 S w if t & C o ..........................100 100 J a n 112 11212 111 24 O c t 20 J a n 25 A u g 13 113 113*2 11134 1127S 112 1123s *24 113 114 2()i2 M ay21 T o r r ln g to n , C la ss A . . 25 25 25 25 16 26*2 D «« *24 25 23 M ay *24 25 27*4 A u g lU 24 24 25 *24 24*4 J a n 29 D o p r e f _____________ 25 2634 64 27 27*2 2 i2 J a n U4 M eh 2 Apr 2 27*4 27*4 *26*2 27*2 *26*2 1 J a n 26 *26*2 27*2 *261- 27*2 U n io n C o p L ’d & M ’g . 25 Last Sale 13.1 A u g’09 148 J ’ly 114*2 J a n 148 A u g l2 126*2 J a n 13 U n it e d F r u i t ........... — 100 148 148 147 148 745 6238 N o v 38*o J a n 66*4 J a n 14 145*4 146*2 140 147 | 147 147*4 145 145 z54 M eh 19 65 653, 3,965 U n S h o e M a ch C orp__ 25 6434 60 64*4 65 30 N o v 04*4 643g 303, M eh 6 2478 Ja n 64*8 *>434 28*2 J a n 11 64l2 641 D o p r e f ---------------------25 30*2 3012 30*2 759 6834 N o v 30*4 3012 30*4 3012 *30 26 J a n 783., A u g 12 30*2 3012 30 30 4l34 F e b 24 7734 17,750 U S S t e e l C o rp _______ 100 7712 7834 7612 763.t 7734 773.1 78 114 N ov 87*2 J a n 129&8 A u g 3 77 78*s 76-r>s 773s 107 F e b 23 D o p r e f ____________ 100 *1263g 1263, 126*4 120*-> ISO 126*4 126*2 6*o N o v 12612 126*2 4 F e b 1234 M a y 0 127*2 127*2 127 127 6*8 J a n 11 11*4 11*4 155 W e s t T c le p & T e le g -.lO O * 1 U 2 12 1134 1134 * ll* o 12 80*4 D e c 59 J an 90 J ’l y 15 11*4 12 *11 12 76 M eh 3 ____ __________ 100 * f . D o p re *____ 90 90 19 89 89 * ____ 90 89 89 * ____ 90 M in in g 12*4 A u g l l 2 F eb 10*2 M a y 25 6 J ’l y 14 280 A d v e n tu r e C o n _______ 25 7*4 7*4 7*2 7*2 7*2 *7 41*2 N o v *7 7*2 7 24 A p r 7 48*2 A u g 12 714 34 J a n 29 7U 47* 4712 48 48*2 1,187 A llo u e z ------------------------ 25 4758 47*2 473g 47 88*8 N o v 48 47 45 F e b 47*2 88?8 A U g ) 2 4712 65 F e b 26 877g 31,984 A m a lg a m a te d C op per 100 86*4 873s 87*4 883g 8531 87 30 J ’n e 847S 86*8 20*4 J a n 3234 A u g 3 8534 86*4 23 Meh 27 A m Z in c L e a d & S m . . 25 3234 323g 3234 3,385 32 313.1 32 53 N o v 32*4 615g J ’n e 4 28 F e b 3134 32 14 32 38*8 F e b 26 20 A n a c o n d a ....................... 25 49 40*8 D e c 49 Jan 46*4 M ay 8 30 F e b 26 45 45*2 7.748 A r iz o n a C o m m e r c ia l.. 25 45 46 45 45 443.1 45*4 .90 A u g 45*4 45 .40 F e b 44*4 4534 1 F eb 1 45 F e b 17 A r n o l d ---------------------------25 Last Sale J u ly ’09 *11 *11 19l2 N o v *lo 1 *lo 1 8 Apr 18 J a n 8 J ’l y 16 A t la n tic -----------------------25 11 123g 11*2 1212 9,425 11 10 ,75 “ N o v 10*8 10 10*4 10 25 O ct 10 " 10*4 .45 F e b 16 ,80 M a y .60 .60 +.55 .55 2,600 B o n a n z a (D e v C o ) ___ 10 .50 *18*8 N o v .50 .65 .65 * .5 0 10*4 A pr * .5 0 .65 * .50 17*4 M ay 8 1034 M cll 15 B o s to n C o n C&G (rets) £1 1634 16*8 25 N o v 16*2 5,887 163g 16*8 16*4 16*4 10 1534 16*8 11*4 A p r 22*8 J a n 2 16 16*4 5 17*8 J ’ly 14 2034 2.890 B o s& C o rb C o p & S tlM g 2034 2H.| 20*2 30 A u g 20-">s 203.1 20*2 203.1 15*2 J a n 28 M a y 8 20*2 21 203s 21 2133 F e b 24 2678 7,420 B u tt e C o a litio n _______15 26 130 A u g 263g 265s 26*8 20*2 26^8 20 93 F e b 26*2 26 119 J a n 4 2534 257s 9614 M a y 3 C a lu m e t & A r iz o n a — 10 109 10912 2,263 700 J a n 109 110 108*2 110 107 108 107 108 106 107 585 F e b 26 695 A u g 13 z665 M eh 695 694 3634 N o v 53 C a lu m e t & H e c la ____ 25 690 690 677 690 21 F e b 677 680 3714 A u g 12 680 680 680 680 29 F e b 1 25 36 .45 J 'n e 36*2 2,269 C e n t e n n ia l.................. 36*4 37*4 .26 M eh 343.1 35 35*4 36 35*2 .35 a n 15 35 35 35*2 .10 J ’n e 26 C o n s M ercur G o ld ____ 1 .25 .25 ’837s N o v 600 *.2 3 .25 .25 ’65*8 F e b .25 * .2 3 .23 * .2 3 85*4 A u g 12 .23 * .24 68*2 F e b 26 847g 8,805 C o p p er R a n g e C on C o 100 84 ID s N o v 7 Jan 8412 S5*4 83*2 84*8 8334 83*2 84 12 M cll 19 83 7*2 M ay28 83*2 84 *9 93-1 1,965 D a ly - W e s t ______________20 10 D e c 834 D e c 9*2 9*2 9*4 978 93g 9*2 16*3 A p r 20 10*4 9 *87S 10 7lo F e b 1 13 3,011 E a s t B u tt e C op M in ._ 10 23, N o v 12*2 12*8 13 .99 Meh 1212 123.1 12*2 1234 212 J a n 15 1233 13 12*2 1234 1*5 A u g 6 134 134 160 E lm R iv e r ______________ 12 1912 N ov fiio A pr IS., *1*2 134 * 111*4 1«4 19 A u g 134 * 1*2 13 F e b 25 * 1*2 Wt 18 17 2,483 F r a n k l i n _______________ 25 173.1 18*2 17*2 IS 17*2 17*2 IOI4 A u g 17*2 17*2 17*2 17*2 73a J ’n c 16 G ir o u x C o n s o lid a te d . 6 1014 10 9,105 ill) J ’ly 10 10*4 80 J a n 10 10*8 101g 10 110 J a n 10 978 10*8 10*s 90 F e b 26 105 235 G ra n b y C o n so lld a te d .lO O 105 105 *104 13*8 A u g 678 J a n 104*2 105 1234 J a n 103 103 104 (*103 104 ♦102 9 F e b 26 101g 6,619 G re e n e C a n a n e a _____ 20 978 10 10*4 10 103g 12*4 J ’n e 10 10*3 10*8 10 10*8 9U J ’n e 20 10*8 10*4 410 H a n c o c k C o n so lid a te d 25 1034 1034 11 11 7 I0 A u g 9 11 11 11* 11*4 11*8 6 * J ’l y 21 * 11*8 73s " n 1 ‘ *7% 3,780 H e lv e tia C o p p e r_______ 2 5 7* 36*4 J a n 17*4 F e b 7*4 3314 F e b It 7*4 7*2 7*4 73S 7 7*2 7*8 22is A p r 27 29*o 3,294 I s le R o y a le ( C o p p e r ). ** 28 29*2 29 29*2 30 8 io M a y l2 28*2 2812 28*2 29*4 7U A p r 30 28*4 2834 5 8 8 1,837 K err L a k e -----------------8 10 S e p 24*4 D ec 718 77S 3714 A u g 12 77g 734 8 73j 734 778 773 16 “ J a n 30 3634 41,697 L a k e C o p p e r _________ 25 35*2 321o 34 17*4 J a n 34 <8 37*4 12*4 J a n 34 163, F e b 16 347S 33 32 31 33*4 103, J ’ly 10 1512 1,901 L a S a lle C o p p e r _____ 25 15*2 833 A u g 15*2 15*2 1515 15*2 2*4 Meh I8 I4 M ay 28 15*4 15 15 15 15*4 15*4 414 M eh I S M ass C o n so l____________ 25 S34 834 812 350 83g 8*4 .75 J ’ly .25 J a n 8*4 Sl2 J ’l y 2 834 S34 8*4 812 8*2 M a y flo w e r _____________ 25 .30 A p r 29 ,70 A u g ’09 Lastt Sale .70 3io D e c .70 8 Jan 514 M aylO .70 * .60 '.6 0 .70 .60 .70 * .6 0 3*2 A p r 16 5 5*4 1,715 M e x ic o C on s M & S _ . 10 5*4 5 4*8 5 ?34 S e p 15*2 D e o 478 171., A u g " 47s 47g *434 478 5 123, F e b 26 1634 4,710 M ia m i C o p p e r ------------- 5 163.1 17 16*2 1634 17 7*4 F eb 1314 i t c h 15i2 N ov 163.1 17 1634 17 1634 17 9*0 J ’l y 20 25 11 * 1012 11 1,205 M ic h ig a n .................... 1034 11 10 45 F eb 73 N o v 10 70*8 J a n 10 1034 10*4 10*4 *10 25 * 57*2 J ’l y 1? 6434 65 643.1 6434 472 M o h a w k ......... ............. 647g 64 .2" D e c .40 A p r V*3 J a n 65 6412 64*2 65 19 F e b 11 6412 64*2 M o n ta n a C on sol C & C 10 .30 ,33 .50 3,100 .30 .25 .25 8*8 J a n 2034 N o v 25*s A u g 12 * .2 0 161o F e b 26 5 2434 25 243.1 25*8 9,475 N e v a d a C o n s o lid a te d . 24*4 2412 113S J ’ly 20 243g 24 2433 243g 10*5 J ’ly 27 *24 24*4 1034 1034 10*2 1034 775 N ip is s in g M in e s ______ 5 40*4 F e b 10*2 1034 50*4 N o v 85*4 J a n 1012 10110*2 10°8 1012 1034 47*4 J ’w 10 61 21,007 N o r th B u t t e ___________ 15 59 50*2 59*2 1 17s A u g 565s 57*2 55*8 56*2 412 M ch22 58 55*2 58 58*s 103j 1134 11 11*4 22,969 N o r th L a k e ($8 p a i d ) . 25 .50 J a n .75 A u g 1 J 'ly 11*8 113s 11 113s 11 1078 11*2 .40 “ J ’n e 2 1 ID s O ld C o lo n y ____________ 25 Last Sale .75 A u g ’09 69 A u g 11 28 J a n * .6 0 --6 0 l2 D e c * .6 0 * .0 0 . . . * .6 0 47*4 F e b 24 58 58*2 4,417 O ld D o m in io n __________25 58*2 58i2 5S34 59 77 F e b 135i2 D e c 149 A u g 11 58 58 58*4 58*8 57*2 58 122 F e b 26 O s c e o l a -------------------------25 147 148 148 149 872 10*2 J a n 147 149 3OI4 J ’n e 10 3U # D ec 146 146 145 146 145 145 26 F e b 33 3212 3334 33*4 3,070 P a r r o tt (S ilv e r & Cop) 10 77 F e b 333g 90 J a n ‘ 100 A u g 33 33*4 34 33 33 33*4 33*2 85 F e b 92 9 2'>8 94 391 ) u ln c y ________________ 25 93*2 92 27g J a n 90 90 92 33g N o v 1*8 A pr *90 91 91*2 91*2 “ 2 F e b 25 -jAnta F e (G old & Cop) 10 *214 270 2*2 2*2 2*2 2*2 21177g J a n 9*4 F e b 19*4 N o v *2*4 2*2 2*2 2*2 2*2 *2*4 1312 F e b 26 16*2 163g 10?8 16*2 6,693 S h a n n o n --------------------- 10 14 A p r 16*4 163g 16 6 2 i2 A u g 3 6 l2 N ov 16 16*4 1638 16*4 16* 34 J a n 5 62 58 59 8,834 S u p e r io r ---------------------- 25 60 62 61 601- 62 18*2 M ay28 58*2 62 5Sr>s 59 14 M ch24 16*2 161 2,050 S u p e r lo r & B o sto n M in 10 16*2 163 157g 16 16*4 1534 16 16 14*s O ct l8*o J ’l y “ 1578 16 1278 A p r 27 S u p er io r & P it t s C o p p . 10 17 1737, 5,188 17*2 1778 173 1734 17 56 Meh 90 F e b 17 17*4 17*8 17*8 17 62 J ’ly 16 *72 73 27 T a m a r a c k _____________ 2* 72 71*2 71* 72 72 71 71 12ig F e b *70 17*8 J a n 74 *72 101 o J ’ne2 1 25 13*2 1334 718 T r i n it y ......... ............. 13*4 13*2 14 16*4 J a n 4*g Meh 13*4 14 14 13*4 133 1334 137s 8 I4 J ’n e 22 U n ite d C o p p e r _______ 100 60 11*2 38 A u g 12 9 Meh 9*8 9*s *11 9->s 93,3 28 J a n 12 363., 373S 10,096 U n it e d S ta tc s C o a l& O ll 25 373| 37 37* 28 Meh 57*8 A u g 12 37*2 37 '8 ’ 375s 38 35*8 363S 36 39 F e b 25 U S S m e lt R ef & M in . 50 5612 57 57*8 26,425 503s 6534 5534 66*2 55 531o A u g 13 5434 55* 37 Feb 55 55*2 44 J a n D o p r e f ______________50 53*4 531; 5,295 5134 52 52*2 53*4 52 03, J a n ' 62*4 4*8 S e p 513i 52 5178 52 4 io J ’n e 2 8 5 *434 2,310 U t a h - A p e x M in in g — 43, 4's 5 5 4"g 2 9 1 -J a n 4*i 48*2 A u g 5 37*4 F e b 24 U t a h C o n s o lid a te d ___ 48' 46*4 46*8 5,367 47*4 4534 453.1 45*2 48*28<g M ay 54 A u g 45*2 45* 45*2 40 39*4 F e b 26 54 623 U t a h C o p p e r C o ---------10 53 52 52 52 52 2io A p r 5*2 M ay 52*8 52*8 43., 3®g J a n 6 434 434 360 V i c t o r i a ________________ 25 43.1 412 *4*4 4l0 41., 663 A u g l2 41 4*2 J a n 47g 4*2 *4*2 434 A p r 30 W i n o n a ------------------------25 61 65g 3,110 6*2 6% 6*4 63g 6*8 6*8 115*2 Jan 6* 168 A u g 12 6 *6 6*8 139 M eh 18 158 325 W o lv e r in e 158 158 ♦155 155 165 155 155 155 155 .60 M ay *154 4 Jan _________ 2*4 A p r 23 W y a n d o t ________ — 25 350 *234 3 2*8 2 *8 234 23, 23 23, 234 234 *2% "278 It E x r l g h t a . a K x d tv . a n d r ig h t* . B id a n d a s k e d p r ice s, d N e w s to c k . e A ss’t p a id . 0 E x - s to c k d lv . c B e fo r e pe.v’t a s s e s s ’t s c a lle d in 1 9 09. 120*2 *10412 *230 12712 *225 147 _ _ 120*s 120 1203S 105*4 10434 10434 ------ 230 230 127*2 * ____ 127* 228 228 228 147 147 147 _ *120 *105 *230 1271° *225 14034 B O N Dr* B O S T O N ST O C K K X O H 'O b. W e e k E n d in g A u g u s t 13 Juries F r id a y A u g u s t 13 R ia A m T e le n do T e l c o ll t r 4 a . 1 9 2 9 J - J C o n v e r t ib le 4 a _____ ____ 10315 M-S A m W r it P a u e r 1 s t a 15 s a 1 9 1 9 j . j A r iz C om C op 1 s t c o n v 6 s 1 9 1 8 M-S A te n T o p do S F e g e n g 4 s . . 1 9 9 5 A-O A d j u s t m e n t g 4 s .......1'ly 1 9 9 5 N ov S ta m p e d . . .............. J ’ly 1 9 9 5 M-N 6 0 -y e a r c o n v - la ............... 1 9 5 6 J-T) 1 0 -y e a r c o n v 5 a ............... 1917 J - D A t l Q u it «fc W 1 S S L i n e s 5 s . ’59 j - j B o sto n E l e c t L c o n s o l 6 a . 1 9 2 4 M-S B o s to n <fc i A) w e ll 4 s .............1 9 1 6 J - J B o sto n do M a in e 4 4 s ...........1 9 4 4 J -J B o sto n T e r m in a l l e t 3 * 2 8 .1 0 4 7 F-A B u r do M o R i v o x 6 a .............1 9 1 8 J - J N o n -e x e in p t 6 8 ................... 1 9 1 8 J - J S in k i n g f u n d 4 a ................. 1 9 1 0 j - j B u tt e do B o s to n 1 s t 6 s ____1 9 1 7 A -0 C edar R ap do M o R l e t 7 a . 1 9 1 6 M-N 2d 7 a ......................................... 1 9 0 9 J -D C e n t V e r m t 1 s t g 4 a . .M a y l 9 2 0 Q -F 0 B do Q I o w a D i v 1 s t D a.1 9 1 9 A-O I o w a D i v 1 s t 4 a ..................1 9 1 9 A-O D e b e n tu r e 5 e ........................1 9 1 8 M-N D e n v e r E x t e n 4 s ............... 1 9 2 2 F-A N o b r a s k a E x t e n 4 s ......... 1 9 2 7 M-N B <b S W a I 4 s ......................1 9 2 1 M-S I llln o ia D i v 3 4 s ..................1 9 4 9 j - j J o i n t b o n d s See G t N o r th e r n O hio j c R y do Stic Y d s 6 s . 1 9 1 6 J -J C o ll t r u s t r e f u n d in g g 4 8 1 9 4 0 A-O Oh M il & S t P D u b D 6 a .. 1 9 2 0 J - J Ch M do S t P W is V d iv 6 8 1 9 2 9 J - J C h ic cte N o M ie n l s i g u 5 s . l 9 3 i M-N O hio & W M ic h g e n 6 a ___ 1921 j - d C o n co r d & M o n t c o n s 4 s . . 1 9 2 0 J -D C o n n «fe P a s s R 1 s t g 4 s . . . 194:5 A-O C u r r e n t R iv e r 1 s t 6 s ........... ±927 A-O D e t G r R a p do W 1 s t 4 s . . . 1 9 4 6 A-O D o m in io n C oal l a t s t 6 s . . 1 9 4 0 M-N F itc n b u r g 4 s ............................ 1 9 1 5 M-S 4 a ................................................1 9 2 7 M-S F r e m tE lk < & M o V l a t 6 s . . 1 9 3 3 A-O U n s t a m p e d 1 s t 6 a ..............1 9 3 3 a - o G t N o r O B & y c o ll tr 4 s 1 9 2 1 J - J R e g i s t e r e d 4 a .......................1 9 2 1 Q -J ASK Low H ig h 9334 Sale 1 0 5 4 S a le 93 4 94*4 H)6*a 1 0 6 :V 8 3 M a r ’rt 1*3 185 100*4.101 101 *s J ’l y ’op 93 95 9 2 4 J ’n e ’0 9 93 96 9 3 J ’ly ’0 9 11 6 J ’l y ’0 9 119 ....... . 120*4 1 2 0 4 72*2 S a le 72 73 1 1 0 F o b ’0 4 100*4 M a r ’09 1 0 4 4 O ct ’08 112*3 J a n ’03 10 4 O c t ’07 10 2 S e p ’0 5 9 9 4 J a n ’09 1 0 0 J ’n e ’Ol 117 J ’n e ’0 8 111 *8 J’ly ’05 8 9 4 90*a 9 0 J ’l y 09 1(103 O c t ’07 9 9 na J ’l y *09 10 0 A p r *98 99*2 J ’ne'Oli 102 M ay’(>9 9 8 ^ F e b ’09 9 0 * s J ’l y ’09 104 Range Sin ce January 1 WeekJs R a n g e or L a st Sa le Sale 102*4 1 0 4 9 4 J ’l y ’09 118*4 F e b ’09 1 2 6 F e b ’05 102 1023< 10234 104 106 J ’l y ’09 9 1 D e c ’07 112*4 J a n ’03 9 6 F o b ’09 90*6 J ’l y ’U9 97 97*3 103*8 A p i ’06 9 6 A p r '08 1 3 3 M ar’l>9 1 4 0 A p r ’05 9.8 98*4 98*4 S a le 9 7 * 4 ........ . 9 7 7e J ’ly ’09 t tO M la B O S T O N S T O C K E X C H ’G E W e e k E n d in g a u g u s t 13 ■=! -i**- Low H ig h 9 134 92*4 83 13 0 10 0 9230 93 102*3 107*0 59 96*4 1 0 6 78 83 190 101*3 9 4 *8 9 4 *2 11 6 120*4 73 4 I ll in o is S t e e l d e b e n 5 s ___ 1 91u N o n -c o n v e r t d e b e n 5 s . . .1 9 1 3 l a F a lls do S io u x C i s t 7 s . . 1917 K a n C C lin do S p r 1 s t 5 s . . . 1 9 2 5 K a n C F t Scfc G h lt e x t 5 s . .1 9 1 1 K a n C F t S c o t t do M 6 s . ... 1 9 2 8 K a n C M do B g e n 4 s ............ 1 9 3 4 A s s e n t e d in c o m e 5 a .........1 9 3 4 K a n O do M R y & B r 1 s t 5 s l9 2 9 M a in e C e n t c o n s l a t 7 a . . . 1 9 1 2 C o n s 1 s t 4 s ............................1 9 1 2 100*4 100*4 M aro H o u g h & O n t 1 s t 6 8 .1 9 2 5 M a s s G a s 4*23 ( r e c t a ) .........1929 M e x ic a n C e n tr a l c o n s 4 s . .1 9 1 3 1 s t c o n s i n c 3 s ............ J a n i 9 3 9 2 d c o n s m e 3 s ............ J a n 1 9 3 9 99*a 99*4 M ic h T e l e p l s t 5 s ................... 1 9 1 7 M ln n e G en E le c c o n g 5 s 1 9 2 9 N e w E n g C o t Y a rn 5 s ___ 1 9 2 9 N e w E n g T e le p h 5 s .............1 9 1 5 81 90*2 XTfis. . ~ ..........................................1 9 1 6 N e w E n g la n d c o n s g 5 s . . . 1 9 4 5 99<fe 100*0 B o s t o n T e r m 1 s t 4 s .........1 9 3 9 N Y N H do H c o n d eb 3 *2819515 C o n v d e b 6 s ( e t t s ) ...........1948 99*2 i o o * ’ O ld C o lo n y g o ld 4 s ................1 9 2 4 101*2 10 2 9 8 °b 9 s « e O re g R y do N a v c o n g 4 a . . 1 9 4 6 90*0 9 2 O r e g S h D in e 1 s t g 6 s .........1 9 2 2 R o p u b V a lle y 1 s t s f 6 s . . . 1 9 1 9 R u tla n d 1 s t c o n g e n 4 * a s .l9 4 1 102 1 0 4 91 94 R u tla n d -C a n a d la n 1 s t 4 s 1 9 4 9 118*4 118*4 S a v a n n a h E le c 1 s t c o n s 5 s . 1 9 5 2 S e a t t le E le c 1 s t g 5 s ...........1 9 3 0 101 102*4 T e r r e H a u t e E le c g 5 s ___ 1 9 2 9 10 2 106*4 T o r r in g to n 1 s t g 5 s ............ 1 9 1 8 U n io n P a c R U & 1 g r g 4 s . 1947 „ 2 0 - y e a r c o n v 4 s ....................1927 U n it e d F r u it g e n s f 4 4 s . 1 9 2 3 96 96 87 92*2 U S C o a l do O il 1 s t a f 6 s . . 1938 .9 7 97*3 U S S t e e l C orp 1 0 -6 0 y r 5 s . 1 9 6 3 W e s t E n d S t r e e t R y 4 a ___ 1 9 1 5 G o ld 4*28................................. 1 9 1 4 G o ld d e o e n t u r e 4 a .............1 9 1 6 G o ld 4 s ......................................1917 2b 9 7 *2 99 W e s te r n T e le p h do T e l 5 s . 1 9 3 2 97 3 b 98*2 W is c o n s in C e n t 1 s t g e n 4 s 1 9 4 9 N o t e — B u y e r paya a c c r u e d in t e r e s t in a d d itio n to th e p u r c h a s e p r ic e to r a ll B o s to n B o n d s. j -j A-O A-O A-O J -D M-N M-S M-S A-O A-O A-O A-O j-J J ’ly J ’ly j - :r j -j F-A A-O A-O J -J A-O J -J J -J F-A J -D F-A J -J J -J J -J J -J F-A J -J M-S J -J J -J J -J M-N .M-N F -A M -S M-N F-A J -J J -J B rice F r id a y A u g u s t 13 R ia ask 100 10 1 W eetfs R a n g e or Last S a le Low R ange Sin ce Ja nuary 1 P H ig/i Low H i h ........... 100*4 A u g ’OV' ........... 1 1 7 A p r ’O' ........... 9 6 4 96*4 M ay’09 101 J ’l y ’09 1 1 9 4 .......... 119*4 J ’n e ’09 9 3 ........... 9 3 A u g ’09 9 0 ........... 9 1 91 ’ *i 1 0 5 ........... 113*0 N o v ’UG 101*4 S e p *06 11 5 J ’n e ’08 99*4 S a le 99*4 9 9 4 15 8 6 A far’09 ....................... 1 il6 A p r ’Of1115*4 A p r ’0 104 S a le 100*4 100*4 . 0 0 *0 1 0 1 * 2 94 100*2 116*4 90 86 4 103*2 9 6 *4 101 120*4 93 91 104 ...... 98*4 1 0 0 84*8 8 6 104 104 102 F e b ’0 ‘ 1 0 0 4 S e p ’08 3 i o ‘i *0 104*4 102 102 108*4 A u g ’OU 138*4 13 '>4 101 A p r ’09 1j96*4 J ’l y ’Of- 97*0 108*4 6 134 1384 10 1 101 1 1 8 70 1 1 9 4 107*2 N o v ’05 1 0 2 M a t’02 98*2 M a y ’0 6 106 i 0 5 * a l 0 6 4 106 J 105*8 1 0 6 4 9 7 A p r '07 99*2 N o v ’OB . . . 102®s A p r ’09 . . . . 102*4 103*i 110*2 J ’n e ’09 96*4 S a le 96*4 97 ~ 2 2 95*8 9 7 120 1 5 5 107 ®8 1 0 8 4 102*4 1 0 8 4 100*2 A p r '09 . . . . 101*4 J ’n e ’Up . . . . 1 0 0 4 1 0 2 4 99*4 J ’l y '0 9 . . . . 99*4 100>i 100®8 A p r '0 9 1 0 0 4 100®j 100*4 A u g ’0 9 — 96*4 97 9 6 100*1 95*« A p r '09 9 3 7e 95*i * N o p r ic e F r id a y , l a t e s t bid a n d a s k e d . H F l a t p r ice . Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly S h a r e P r ic e s —N ot P e r C e n tu m P r ic e s S a tu r d a y A ugust 7 M onday A ugust 9 .......... ........... .......... ........... 10 0 f&rtl **87*’ **8*7*' 100 ♦105 4 1 0 0 4 * 16 *-j _____ +37 HU* 134 42 ♦41 *46 464 45*4 4 6 4 12*8 12*0 61 6 1 70 24 244 68 68 4 14 *13 25*0 2 0 4 83*4 7 0 7b 434 124 31*2 H I7® B15,„ 55 *8 T u esd a y A u g u s t 10 *16 *3 6 13®8 1 3 34 41 414 4 5 78 4 5 70 44«„ 4 0 12»0 62 02 4 24 *0 24*2 6 8 ?b 6 9 4 41 46 45 12*0 61 24*4 69 ®8 2 6 *2 26*4 i r j 7 „ 116 84 84 84*0 V l'h 7Olaj0 71 437. 43-S 4 3 4 12 V 12*0 12 4 31», 31*0 3L»fl 8 1 7» 82®* S3 \ 7 « 78 7 554 55*4 5 5 4 90*f 90 90 4 26 4 115*4 83*4 704 43 4 12*8 31 8 l 34 7 55 4 89 4 41 46 45 4 12*fi 61 24®^ 71 26 I'M) 85 VU7 44 124 31*8 82*b 7 55*h 904 W ednesday A u g u s t 11 T h u rsd a y A u g u s t 12 ....................... io o io o *105 4 106*2 18 18 18*2 19 38 38 38*4 39 1 3 4 13 4 • 13*2 14 4 0 7b 4 5 78 444 12*4 604 24*4 70 13 4 4 0 7s 454 454 12*4 614 24 4 71 1 3 7r 1194121*4 85 854 7 u wia VU®8 *43*4 44 12*4 12 4 30=4 3 0 4 81*8 »2 lle 7 7 5 4 ^ 55 89*4 9 0 * 4 0 34 41 *45*4 4 0 44 4 45 *12*4 123 b 61*4 61*4 * 2 3 4 24 70 704 13<fe 13*0 26 264 1 1 8 11 9 85 86 71 7 l*4 7147 1 * * 1 0 44 45 4 4 5 4 47 1 2 30 12 '*0 1 2 3b 1 2 ^ 3 0 «8 30*e 30 4 30 8 2 &2*3j(j 8 1 7 16 82®i g 7 7 7 7*16 55 55 64°8 8U* b 9 0 34 90 y o -\ P H IL A D E L P H IA i n a c t i v e .s t o c k * A lle g h e n y V a l p r e f .. . . 5 6 A m e r ic a n C e m e n t.........50 A m er P ip e M fg .......... 100 b e l l T e le p h o n e ( P a ) . 100 C am b ria I r o n ................... 60 C e n tr a l C oal do C o k e . 100 C on sol T r a o of N J . . . 1 0 U D ia m o n d s t a t e S t e e l . . 10 P r e f e r r e d ........................10 E a s t o n C on E le c tr ic 6 .5 0 E le o S t o r a g e B a t t ___ 100 P r e f e r r e d ................... 100 F t W a y n e doW V .........100 B e r m a n to w n P a s s ___ 50 tn d la n a p o lis S t .............i o o I n d ia n a U n io n T r ___ l o o I n s u r a n c e C o of N A . . 10 I n t e r S m P o w <&C b em .5 0 K e y s to n e T e le p h o n e . .6 0 P r e f e r r e d ....................... 50 K e y s t o n e W atch C ase.lO O L it B r o t h e r s ..................... 10 L it tle S c h u y l k i ll .............60 M in e h ill A S c liu y l I I . . 50 N H a v en Iron & S te e l.5 N o r t h e r n C e n t r a l.......... 50 N o r th P e n n s y l v a n i a . . 50 P e n n s y lv a n ia S a i l .........50 P e n n s y lv a n ia s t e e l . . 1 0 0 P r e f e r r e d ..................... 100 P h ila C o ( P it t s ) p r e f ...6 0 P h il G erm an & N o r r i s .50 P h lln T r a c t io n ................. 50 R a ilw a y s G e n e r a l........ 10 S u s q u o h I r o n <& S t e e l . . 6 T id e w a t e r S t e e l ............ 10 P r e f e r r e d ........................10 T o n o p a h M in in g of N e v l U n io n T r o t I n d .......... 100 U n it e d N J U R A C . .1 0 0 U n i t T r a c P i t t s p r e f . . 50 W a r w ic k I r o n A S t e e l . 10 W e s t J e r s e y & s e a S h .6 0 W e s tm o r e la n d C o a l....5 0 W H k e s G a s a E l e c .. 100 R oads 124 46 41 i ‘2 4 4 GL* 125 22 ‘2 2 4 " l3 ° e 16 164 62* 105*4 106 1004 112* 111 43 4 90 9*4 7*8 96 67 4 97 ♦ B id a n d a s k e d ; n o s a le s o n t h i s d a y . 1064106 19 19 ♦3 9 40 * 1 3 ^ 13*4 4 0 34 41 4 5 34 45*8 4 4 34 45*0 12*4 12*4 61*4 6 2 4 *23*14 2 4 70 7 0 7e 1 3 70 13*0 26*4 20*0 1 1 8 120*4 8 5 3* 8 6 4 P H IL A D E L P H IA 40*4 S ales A C T IV E S T O C K S o f the Week ( F o r B o n d s a n d I n a c tiv e b Y ld a y S to c k s see below ) A u g u s t 13 Shares B id A sk B ric es are a l l “ a n d in te r e s t A1 V a l E e x t 7 s 1 9 1 0 A -O A l t A L V E le c 4 4 h’3 3 .F -A A m R y s c o n v 5 s 1 9 1 1 . J -D A t l C ity 1 s t 5 s g ' 1 9 . M -N B e r g A E B r w 1 s t 6 s ’2 1 J-J B e t h lo S t e e l 6 s 1 9 9 8 . Q-F C h o c A M e 1 s t 6 s 1 9 4 9 J-J C h O k A G g e n 6 s ’19 J -J C ol S t R y l e t con 5 s 1932 C o n T r a c o f N J 1 s t 5 s . '3 3 E A A 1 s t M 5 s 1 9 2 0 M -N E le c do P e o T r s t k tr c tf s E q II G a s-L 1 s t g 5 s 1 9 2 8 I n d ia n a p o lis R y 4 s . 1 9 3 8 I n t e r s t a t e 4 s 1 9 4 3 . .F - A L e h ig h N a v 4 4 s ’1 4 . Q-J R R s 4 s g .........1 9 1 4 .Q -F G e n M 4 4 s g . 1 9 2 4 .Q -F L o h V U 1 s t 6 s g ' 3 3 . .J -J L e h V e x t 4 s 1 s t 1 9 4 8 . J -I) 2 d 7 s 1 9 1 0 ................... M -S C o n so l 6 s 1 9 2 3 ........ J -D A n n u i t y 6 s ................. J -D G e n c o n s 4 s 2 0 0 3 . M -N L e h V T r a n c o n 4 s ’35J -D N e w C on G a s 5 s 1 9 4 8 J -D N ew a rk P a ss con 5 s 1930 N Y P Ii A N o 1 s t 4 s ’3 9 J-J I n c o m e 4 s 1 9 3 9 ...M -N N o O h io T r a c c o n 5 s ’19.J-J P e n n g e n 6 s 1 9 1 0 . .. V a r C o n so l 5 s 1 9 1 0 .........V a i P e n n A A id S t e e l c o n 6 s . P a A N Y C a n 5 s ’3 9 . A O C o n 4 s 1 9 3 9 ...............A-O P e n n S t e e l 1 s t 5 s '1 7 M -N P e o p le ’s T r t r c e r t s 4 s ’43 P C o I s t A c o lt r 5 s ’4 9 M -S C on A c o lt r 5 s 1 9 5 1 M -N P h il E le o g o ld t r u s t c t f s . T r u s t c e r t i ls 4 s ............ P A E g e n M 6 g ’2 0 . A-O G en M 4a g 19 ' 9 2 0 .. A AO H E x -rig h ts, II $ 7 .5 0 p a id , 112 4 10 5 4 109*4 i u iR 103 10 6 4 iio * i ’07* 149 97 68 16 0 97 4 69 1004 1 01**4 1 0 2 4 1104 93 1 0 6 4 106 98 102 4 10 3 7 6 4 77 16 6fc 175 510 845 H a it i m o r e C on . G a s EL JL. do P o w .1 0 0 3 0 D o p r e f ................. . . . 1 0 0 7 6 N o r t h e r n C e n t r a l ........... 50 10 0 S e a b o a r d ( n e w ) ................. 1 0 0 11*4 D o 2 d p r e f ................10 0 22*4 U n it e d R y do E l e c t r i c . . 5 0 9*4 R a n g e S in c e J a n 1 iy u y R a n g e fo r B rev io iu Y e a r ( i y 08) H ig h e st M ar 8 4 2 4 M ay k M a r l 6 8 9 M ay »8 Jan 4 i l l J a n ie F e b 2 5 21*8 J ’n e U F e b 24 4 1 M ay 17 F e b 3 13*4 A n g S' Low est 20 65 80 4 10 10 H ig h e s t Jan 30 M ai 8 1 4 J a n 102 F eb 15 F eb 26 Jan 12 P h ila d e lp h ia 0 0 2 A m e r ic a n C e m e n t .......... 50 3 7 7a Apr 13 43 J a n 2 3 2 4 M ai 13 5 A m e r ic a n R a i l w a y s ___ 5 0 44°s J’l y 8 4 6 34 f e u 1? 42*4 M ai ,276 C a m b r ia S t e e l ................... 5 0 32 70 Feb 23 46*4 A u g 7 2 6 78 F e b 612 E l e c t r ic C o o f A m e r ic a 10 j)1 0 7g Jan 20 12 4 J ’l y 14 8 4 Jan ,66b E le o S t o r a g e B a t t e r y .. ] oO 43 Jan 30 6 3 4 J ’l y 30 2 4 4 F e b 3 5 3 G e n A s p h a lt tr e t i s ___ 1 0 0 L5 4 J a n 5 2 5 34 F e b 3 4 Jan ,437 D o p r e f t r c t f s ___ 10 0 63 Jan 6 7 1 A u g 1 9 7e J a n 1 0 0 K e y s t o n e T e l e p h o n e .. . 5 0 9 4 Jan 21 1 6 A p r 19 4 4 Jan ,059 L a k e S u p e r io r C o r p ....lO u 14*4 Jan 6 3 3 78 M a y fc 3*8 F e b ,405 L e h ig h C do N a v tr c tf s . 50 96 Jan 5 121*4 A u g 11 78*4 J a n ,105 L e h ig li V a l l e y ................... 50 67 Feb23 86*4 A u g i . 52 °0 F e b ,398 P e n n s y lv a n ia H R ........... 50 63*0 Feb 24 71*4 A u g 12 54*10 J a n 09b P hL ladelp’a C o ( P i t l a o ) . 5 0 4 0 4 Fob 24 4 7 A u g l3 3 4 4 M ai ,670 P h ila d e lp h ia E le c tr ic * . 25 11*4 Fob23 12*fc M a y 1' 5 4 Feb ,165 -P h lla - “R' a p id T r a n s i t . . . 5 0 24 4 Jan 6 3 6 4 A p t 2b d l 2 4 J ’nti 50 59 4 F eb 23 82*®ie A u g 12 463i0 F e b ,792 R e a d i n g ................... ,490 T o n o p a h M in in g 1 5*4 Jan to 7i 3i 0 M ar3 0 3 7a J a n ,701 U n io n T r a c t io n . . 50 5078Jan 6 6 8 4 M a y 4 « 4 4 4 J ’n e 9 7 6 U n ite d G a s I m p t. 60 84®ft May 13 9 4 4 F e b 6 73*0 J a n P H IL A D E L P H IA H A L T I .U m t E P h A R e a d 2 d 5 s ’3 3 . A-O C o n M 7 s 1 9 1 1 .........J -D 10 5 E x I m p A1 4 s g ’4 7 . A -O T e r m in a l 5 s g 1 9 4 1 . Q-F P W A B c o l tr 4 s ”2 1 . J-J 99*8 P o r t la n d R y 1 s t 5 s 1 9 3 0 . R o c h R y A L e o n 6 s ’5 4 J-J 99 4 S n a n is h -A m I r 6 s '2 7 J-J 103 4 U T r a c I n d g e n 5 s ’1 9 .J -J U n R y s T r c t f s 4 s ’4 9 J A J 79 4 U n it e d R y s I n v 1 s t c o ll tr s f 6 s 1 9 2 6 ................... M -N 83*4 U T r a o P i t g e n 5 s ’9 7 J-J W e ls b a c h s f 6 s 1 9 3 0 .J -D 85 4 W lk s -B G A E c o n 5 s ’5 5 J -J 1 0 0 B A L T IM O R E I n a c t i v e .S to c k s A l a C o n s C o a lA I r o n . 1 0 0 25 P r o f ................................. 1 00 A t la n t a A C h a r lo t te .. 1 0 0 A t la n C o a s t L (C onn)lO O 3 2 5 C a n to n C o ....................... 1 0 0 93 C o n s C o t D u c k C o r p .. . 5 0 64 P r e f e r r e d .......................50 22 G e o r g ia S o u A F l a . . . 1 0 0 33 1 s t p r o f ......................... 10 0 9b 4 2 d p r e f ........................... 10 0 72 4 G -B -S B r o w in g .............100 2 B e u < ls B ric es a re a l l “ a n d in te r e s t.” A n a c o s t la A P o t 5 s ............ A t l A C h e x t 4 4 s ’1 0 .J-J A t la n C L R R 4 s l9 5 2 M - S A t l C o a s t L ( C t ) c tf s 5 s J -D C tfs o f in u e b t 4 s . . . . J - J 6 -2 0 y r 4 s 1 9 2 5 ...........J-J B a lt C P a s s 1 s t 5 s ’l l M -N B a lt F u n d g 5 s . 1 9 1 6 M -N E x c h a n g e 3 4 s 1 9 3 0 J-J B a lt A P 1 s t 6 s m l ’l l A-O B a lt T r a o 1 s t 5 s . . ’2 9 M -N N o B a lt D i v 5 s 1 9 4 2 J -D C e n t’l R y c o n 5 s l9 3 2 M -N E x t A I m p 5 8 .1 9 3 2 M S C h a s C ity 11y 1 s t 5 s ’2 3 J-J t $ 12*4 p a id . 4 $ 1 3 4i p a id . 5 $ 3 5 p a id , D eo D eo D ec D eo D eo N 01 43 D ec 4 6 4 N 01 4 0 4 D ec 11*4 D eo 4 7 4 D ec 19*0 D eo 5 9 4 D eo 9 May 17 D eo 9 7 ^ D ec 76*4 D ec (>6*10 D ec 44^4 D e c 12 *8 N 01 25 4 D ec 71**ic D eo _ 9 *0 A p r 5 6 4 Apr 94*., D ec B id A sk C h a s R y G A E l 5 s ’9 9 M -S C h a ri C A A e x t 5 s . *09 J -J 2 d 7 s ...................1 9 1 0 A -O 1 20 C ity A S u b 1 s t d s . . ’2 2 J .D 1U0 C ity A S u b ( W a s ) l 8 t 5 a ’4 8 1 0 3 4 104 C o a lA 1 R y 1 s t 5 s ’20F’.A 1 0 2 4 Col A G r n v l s t 6 s . l 9 1 6 J - J C o n so l G a s 6 s . . . 1 9 1 0 J -D 10 1 101*1 6 s .......................... 1 9 3 9 J -D 1114 G a A A la 1 s t c o n 5 s ’4 5 J-J 105*4 106 G a C a r A N 1 s t G a g '2 9 J-J 105*4 LUG G e o r g ia P 1 s t 6 s . . . ’2 2 J-J 115 G a S o A F la 1 s t 5 s 1 9 4 5 J -J 1 0 9 4 no G -B -S B r e w 3 -4 s 1 9 5 1 M -8 4 7 *4 47*, 2 d in c o m e 6 s 1 9 5 1 M -N 14*4 1 5 4 K n o x v T r a c 1 s t 6 s '2 8 A - 0 10 5 L a k e R E l 1 s t g u 5 s ’4 2 M -S 11 3 4 M a co n R y A L t l s t 5 s ’5 3 J-J 95 M e m p h is S t 1 s t 5 s '4 o J-J 1 0 0 1004 51 e tS t( W a sh ) l s t 5 s ’2 5 F A 330 M t V er C ot D u ck 1st o s. 8 2 4 82*4 N p t N A O P 1 s t 6 s ’3 8 M -N 93 94 G e n e r a l 5 s . . . . 1 9 4 1 M -S 74 2 3 4 N o r f o lk S t 1 s t 6 s ' 4 4 . .J-J 1 0 9 ‘ 1 1 2 ” N o r t h C e n t 4 4 s 1 9 2 5 A-O 10 7 38 LU8 *i S e r ie s A 5 s 1 9 2 6 __ J-J 984 112 S e r ie s B 5 s 1 9 2 6 ......J-J 774 11 2 P i t t U n T r a c 5 s 1 9 9 7 . J-J 3 P o to V a l 1 s t 5 s 1 9 4 1 . . J-J 1 0 6 4 IOO” S a v F la do W e s t o s ’3 4 A -O S e a b o a r d A L 4 s 1 9 5 0 A -O S9*4 *89«i 10 3 104 S e a b do R o a n 5 s 1 9 2 6 . J-J 107 108 S o u t h B o u n d 1 s t 5 s ..A - O 1 0 6 !08 * 9 6 4 96*4 U E l L A P 1 s t 4 4 a ’2 9 M -N 94 92 U n B y A FU 1 s t 4 s '4 9 M -S 88*4 8 8 4 85 87 I n c o m e 4 s 1 9 4 9 .........J .D 5 8 4 58*4 95 96 F u n d in g 5 s 1 9 3 6 . ..J - D 85 4 85*4 1014 1 0 1 34 V a M id 2 u s e r 6 s ’l l . M - S 108*4 -- * 3 d s e r ie s Gs 1 9 1 6 . .M -S 1 0 9 *98* 1*0*6*' 4 t h s e r 3 - 4 -5 s 1 9 2 1 . M -S 103 104 5 t h s e r ie s 5 s 1 9 2 6 .M -S V a (S ta t e ) 3 s n e w ’3 2 . J-J 91 F u n d d e b t 2 - 3 s 1 9 9 1 .J -J 113 4 91 W e s t N C c o n 6 s 1 9 1 4 J-J 1U8 W e s V a C A P 1 s t 6 g ’l 1 J-J 1 0 2 4 102*4 W il A W e ld 6 s . . 1 9 3 5 .J-J 1 1 3 4 a R e c e ip t s . 6 $ 2 5 p a id . < j$ 3 0 p a id . d $ 4 2 4 p a id . In d u str ia l a n d M iscel Bid Ask 6 ____ C o n so l R u b b e r T ir e __1 0 0 26 P referred __________ lo u 23 D e b e n tu r e 4 s 1 9 5 1 A & C I 3534 40 93 N a r r a g a n (P r o v ) El C o . 59 ♦91 -----C on s S t e a m s h ip L in e s lo u T R A N SA C T IO N S A T T H E N E W Y O R K STOC K E X C H A N G E 37 32 N Y & Q E l L & P ow C u_10> '24* C o ll tr 4 s 19 5 7 r c ts.l& .l / 23 72 D A IL Y , W E E K L Y A N D Y E A R L Y . 69 P r e f e r r e d __________ 100 Corn P ro d R e f See S to c k E x c list 75 70 U n ite d E le c o f N J ___ 10 ' ^C rucible S t e e l . . . . . . 1 0 0 12sg 13 77 76 1 s t g 4 s 1 9 4 9 ............J -D 80-)| Railroad e P r e fe r r e d .....................1 0 0 80 Sitocks. State V . S. cfee. C v.m beriand E ly C o p p e r .5 *73g 71? Week ending F e r r y C o m p a n ie s Bonds. Bonds. Bonds. ^ D ia m o n d M a tch C o -1 0 0 130*4 13012 Par value. Shares. A ug. 13 1909. D o m in io n C o p p e r ------ — 10 ---. 92 88 B & N Y 1 s t 6 s 1 9 1 1 . J-J $ 126,000 $ 2 ,6 1 6 ,5 0 0 D o u g la s C o p p e r . . ___ , _ 5 *218 "21? 652,227 *51 ,4 5 2 ,7 0 0 38 34 Satu rd ay - .................... 5 6 .000 $14,666 N Y & E R F erry s t k .1 0 0 4 .5 6 5 .5 0 0 8 2 .2 9 6 .1 0 0 E c o n ’y L t & P ( J o lie t , IU) 909,510 65 65 M onday ------------------1 s t 5 s 1 9 2 2 ...............M-N 38 .0 0 0 2,000 3 .4 8 9 .5 0 0 98 64 ,3 2 1 ,4 0 0 1st M s 1 g 5s 1 9 5 6 -J -l) 93 701,479 961? 9512 T u esd a y -------------------N Y & H o b 5 s M ay 46 J -D 8 5.000 10,000 3 .2 7 8 .5 0 0 30 9 0 .3 9 0 .1 0 0 E le c tr ic B o a t _________1 0 0 20 966,376 W ednesday ------------1061? 10/1 H o b F y 1 s t 5 s 1 9 4 6 M -N 84 .0 0 0 10,000 6 .7 4 0 .5 0 0 65 129 ,9 9 4 ,2 0 0 P r e fe r r e d __________ 10u 65 1,442,317 T h u rsd ay-----------------95 N Y & N J 5 s 1 9 4 6 ____ J-J 9 8.000 5 .5 3 8 .5 0 0 E m p ire S t e e l____ ____ 100 10 40 34 F r id a y ---------------------- 1,233,084 115 ,7 1 3 ,4 0 0 1 0 th & 2 3 d S t s F e r r y . 1 0 0 70* P r e f e r r e d ___ _____.1 0 0 65 65 70 1 s t m tg e 5 s 1 9 1 9 . . J - D $ 487,000 $36,000 ;F e d e r a l S u g a r o f N Y S ej St k K x b s t T o t a l ........................... 5,80 4 ,9 9 9 *534,167,9001 $ 2 6 ,2 2 9 ,0 0 0 2712 29 r U n lo n F e r r y s t o c k __1 0 0 ^G eneral C h e m ic a l___ 1 0 0 90 100 96 100 l i s t 5 s 1 9 2 0 _______ M -N 110 J a n . 1 to A ug. 13. ^ P r e fe r r e d __________1 0 0 104 jPeeifc ending A u g . 13. Sales at 7 G o ld field C o n so l M ln e s -1 0 ♦b78 New York Stock S h o r t- T e r m N o te s 1 G o ld H ill C o p p e r ...............1 *>2 1908. 1909. 1908. 1909. Exchange. lo ts G reen e C a n a n e a _______ 20 *10 987s 9914 A m Cl g s e r A 4 s T 1 . .M - S 220 G u g g e n h e im K x p lo r ’n 1 0 0 210 122,237 108,298,299 4 ,9 0 5 ,4 3 9 9832 98 5 ,8 0 4 ,9 9 9 B 4 s Moh 15 12M S 3tocks— N o . shares___ sa c k W a te r Co *11,204,697 *9,2 9 2 ,3 9 9 ,6 5 0 A mSer T e l & T e l g 5 s 1 0 J-J 1003s 10034 ( HRa ce kf egn 4s Par v a lu e __________ *534 ,1 6 7 .9 0 0 * 4 4 1 ,4 8 6 ,4 0 0 91 *52 o p ' 1 2 .. J - J 89 $40 $137,300 A tla n C o a s t L 5 s '1 0 .M - S 10683 101 * 4,500 * 1 ,6 0 0 Bank shares, par_____ 65 H a ll S ig n a l C o ________ 10 0 50 69 67 Cln H a m & D 4 H s *08 M -S Bonds. 13 H a v a n a T o b a c c o C o - . 10 0 10 8275 $450,820 * 11,000 9 6 l2 96 5 3 6 .0 0 0 ___ J -J C o l tr g 4s 1 0 1 3 G overnm ent b ond s— 26 25,383 P r e fe r r e d _______ _— 1 0 0 20 6 4 .6 8 3 ,5 0 0 6 42,000 10134 1013; 4 8 7 .0 0 0 C C C & S t L 5s. J u n e T1 State b on d s__________ 70 85 1 ,1 2 0 1 s t g 5 s J u n e 1 2 2 . J -D 60 603,269,700 Erie 6 s , A p r 8 1 9 1 1 . . A-O 100 101 1 9 ,4 12,500 2 6 ,2 2 9 ,0 0 0 R R . and m lsc. b o n d s .10412 H e c k e r -J o n e s-J e w e ll Mill I n ter b R T g 0 s 1911 M -N 104 111 1 s t 6 s 1 9 2 2 ................. M -S 103 * 2 0 ,0 6 5 ,5 0 0 $876 ,7 8 0 ,0 0 0 *568.404,020 IOH4 5 s M ch 1 9 1 0 ...............M -S 101 T otal b o n d s_______ * 2 6 ,7 5 2 ,0 0 0 45 35 997s IOOI4 H er’g -H a ll-M a r , n o w .1 0 0 K C R y & L ig h t 6s *12 M •S -- 9J78 IOOI4 H o b o k e n L a n d & I m p lo o D A IL Y T R A N SA C T IO N S A T T H E BO STO N A N D P H IL A D E L P H IA L ack S t e e l 5 s g 1 9 1 0 .M - S ebs 1 9 1 0 .......................M -N 9934 1003^ 1001? L ak e S h & M S o 5 s ’l 0 F A EX CH AN GES. 8 7 Lou & N a s h g 5 s T O .M -S 1003j 10Hs H o u s to n OIL— ___ - — 1 0 0 40 P r e f e r r e d .................... 1 0 0 80 Vlex C en t 5s J u ly 1 1019 IOOI4 1005S Philadelphia. n o H u d so n R e a l t y . . . . . . 1 0 0 100 1903, 1001 M ich C e n t 5 s 1 0 1 0 . . . F - A 65 9912 0978 " In g e r so ll-K a n d c o m .1 0 0 M inn & S t L g 5 s ’l l . F - A Week ending Unlisted Listed Bond e P r e fe r r e d ................. 1 0 0 00 Bond Listed Unlisted N Y C e n t 5 s 1 9 1 0 ____ F-A 1001? 1003, A ug. 13 1909. shares. 150 shares. sales. sales. shares. shares. N Y C L in e s E q p 5s *10-27 6414 % 3% I n t e m a t ’l B a n k ’g C o .lO J 130 list I n t ’n l M er Alar S ee S t k E xo V Y N 1 1 4 H 5 s T 0 - ’12 10012 1021 6,570 112 17,794 $51,300 N o rf & W e s t 5 S 1 9 1 0 M -N 10034 10US l n t e r n a t ’l N ic k e l____ 10 0 103 $43,500 20,844 14,092 Saturday------------------14,007 2 9,699 91 49,600 P re fe r r e d ________ . 1 0 0 85 4 9.000 38,767 P a R R 5 s M ch 15 TO M -S 1005S 10078 M onday-------------------- 24,149 8,885 21,452 92 98.200 P 1 st g 5 s 1 9 3 2 -------A & O 00 118.500 2 9 ,800 See S h y s u b llo S e r v ic e C orp 5 s — T u e s d a y ------------------- 24,695 9 ,246 19,162 15 22,100 60.000 I n te r n a tio n a l S a l t — 1 0 , 11*2 35,213 31,173 100's S t L & S a n F r g 5s ’ 11 . J &J W ednesday.................... 99*8 10,700 30 ,6 3 8 60 35.200 1 s t g 5s. 1 9 5 1 ............A -U 1 64 35 .0 0 0 45,588 9034 97*4 T h u r sd a y ....................... 49,480 % g n o t e s *12 o p F & A 19,896 8,107 n 1 72,900 S o4u H 8 61 .0 0 0 32,411 th R y g 5 s 1 9 1 0 . . F-A 1001 100l2 I n t e m a t ’l S liv e r ______10 0 F r i d a y -------------------- 32,667 95 P r e fe r r e d .................... 1 0 0 90 % 3% 57,515 $429,300 S o u th e r n R y 6 s 1 9 1 1 .M -N 6312 138,641 1 s t 6 s 1 9 4 8 ................. J - I ) 109 111 176,256 202,623 $367,000 T id e w a te r 6 s , 1 9 1 3 , g u a r 10234 10318 T otal W e s tln g h EI& M 63 19 1 0 10034 10118 I n t e r n a t S m e lt & R e fg 100 130 140 J o n e s & L a u g h lln S t e e l Co 103 l s t s I g 5 s 1 9 3 9 _ . M -N 102 R a ilro a d 60 L a c k a w a n n a S t e e l . .- 1 0 U 48 A tc h T o p & S a n t a F e — 1678 L a u sto n M o n o ty p e — . 2 0 *1684 C o n v 4 s (w 0 — See Stk All b o n d p rices are n o w “ a n d in terest* ' e x c e p t w h e r e m a r k e d " i . ” -40 L a w y e rs’ M tge C o ____ 10o c230 C h lo M Uw & S t P a u l— -L e h & W ilk e s -B C o a l ou 120 D e b 4 s (w 1)— S e e S tk E x c h lis t Ix>rd & T a y lo r ___ . . . 1 0 0 100 lio * S tr e e t R a i lw a y s C h ic P e o & S t L p r e l.1 9 0 Bid Ask S tr e e t R a ilw a y s 103 P re fe r r e d ________ - l o o 98 D e p o s ite d s t o c k . . ____ P „ „ S e r v C orp N J {Con) N ew Y o rk C U v eL o r llla r d I P ) . p r e f . , 1 0 0 130 245 R a p id T r a n S t R y _ 1 0 0 U n d o p o s lte d s t o c k ____ 30 15 B le e ck S t & F u l F s t k .1 0 0 M a d iso n Sq G a r d e n .. 1 0 0 25 *40*" 106 1 s t 5s 1 9 2 1 ............A-O P r io r lie n g 4 W s ’30M & S / 85 75 65 lto 2d 6 s 1 9 1 9 .............- M - N 80 e 1 s t m t g e 4 s 1 9 5C .J-J J C H ob & P a te r s o n C on m t g g 5 s 1 9 3 0 . J& J / 45 55 t B 'y & 7 t h A v e s t k . .1 0 0 140 M a n h a tta n T r a n s i t . . . . 2 0 *2 214 7734 43 g 1 9 4 9 _______ M-N 7914 I n c o m e 5 s . J u ly 1 9 3 0 . . 01 s 2d m tg e 5s 1 9 1 4 . .J-.* H 00 M itch ell M in in g ...............10 125 128 S o J G as E l & T r a c .1 0 0 *223s C h ic S u b w a y _______ . . 1 0 0 *7 C on 5 s 1 9 4 3 See S to c k E x o 1st V lo n o n g a h ela R C o a l - - 5 0 7>2 99 IOOI4 F t W & D en C y s t d . . l 00 G u £ 5 s 1 9 5 3 ...A 1 - S 9 7 i2 104 102 * 2 5 l2 26 B N vay S u r f 1 s t 5s g u 1924 P r e fe r r e d ___________ N o H u d C o R y63*14 J-J 104 100 K a n s a s C ity S o u 5s A p r 1 t C e n t’l C r o e st'n s t k . .1 0 0 — M o rtg a g e B o n d C o — .1 0 0 »112l2 118 5 s 1 9 2 8 ....................... J-J 105 107 1 9 5 0 (w I)—-S e e S tc k E x c h lis t d ir e 1 s t m t g e 6 s 1 9 2 2 .M -N N a t B a n k o f C u b a ___ 10 0 101 104 E x t 5 s 1 9 2 4 ____ M -N 101 103 tk E x lis t N a t R y s o f M ex ico — S e e S 30 3 0 l2 N a t ’l S u r e t y ( n e w ) . .1 0 0 185 e Cen P k N 4 R R s tk 100 P a t C ity c o n 6 s ' 3 1 .J - D 118 N o r th ’n S e c u r it ie s S t u b s . 125 135 90 80 *2478 2*5** * C h r ’t ’r & 1 0 th S t s tk lo t 36*2 N e v a d a C o n s ’d C o p p e r -5 2d 6 s o p t 1 9 1 4 . _ A -0 100 ♦33 P it t s B e s s & L E — . . . 5 0 2 Col & 9 th A v e 5 s See Stool. E x c 1st N e v - U t a h M in & S m — 10 75 lea g o list P r e fe r r e d ___________ 50 ♦70 s 40 53 e N e w C e n tr a l C o a l. . — 20 D ry D E B & B— 103 10412 e R a llx o a d S e c u r itie s C o 100 s 95 E x c lis t N Y A ir B r a k e 6 s See S tc k 95 100 111 C s tk tr c fs s e r A '52 9012 50 l l 45 N Y B is c u it 6 s 1 9 1 1 - M - S / 100 Seaboard C om pany— (. 250 309 40 4*7*" e N e w Y o rk D o c k ____ 10 0 C om v o t tr c t f s 24 -----100 75 2412 1s t p r e fe r r e d _______ 100 / 95 100 82 82l2 e P r e fe r r e d __________100 697b 70 e P r e fe r r e d — ___ 100 C om & 2d p r e f- S e e B a lt E x c 200 250 N Y M tg e & S ecuri t y .1 0 0 22712 235 G en 4 s 1 9 3 4 . . S e e S to c k E x o list S e a b o a r d A ir L in e — N Y T r a n s p o r t a t i o n .. . 2 0 *4 5 101 E x o list L C oll 5 s e x t M ay *11 M -S 100i2 97 100 N ile s - B e m -P o n d c o m .1 0 0 100 101 46 4712 U n io n P a c ific 4 s See Stk E x o h list ------ \ t 50 * 1 0 l2 lO k N lp ls s ln g A lin es— . . . . 5 933; 92 P r e fe r r e d __________ 100 93 W e s t P a o 1 s t 5s '3 3 .M - S in g e list 9 8 ’s 3 4 e O n ta r lo S i l v e r . . . ___ 100 4 s 1 9 5 1 ......................... J - D 8358 89 E x o list 60 O tis E le v a to r c o m __.1 0 0 63 E x e !l3t I n d u s t r i a l a n d M iscet P r e ferred .....................100 100 102 U a s S e c u r itie s 150 170 P itts b u r g h B r o w in g ___ 50 *23'38 24 N ew Y ork A d a m s E x p g 4 s 194 7 J -D / 91 95 22 15 *42 P r e f e r r e d _____ _— 50 A h m e e k M in in g _______ 25 ♦ 195 3-0 0 c e n t U n G a s 5 s g * 2 7 .J . . . 102 103 96 1 0 , P itts b u r g h C o a l.S e e S tk E x c list o n G as <N Y ) — See S tk 120 A llia n c e R e a l t y .............. 100 E xo 115 list 77 C ; 74 44 43 P o p e ,M fg C o c o m (n e w )1 0 0 144 148 120 e M u tu a l G a s __________1 0 0 A llis-C h a lm e r s C o 1 s t m tg no 95 87 P r e fe r r e d ( n o w ) ____ 100 few A m s te r d a m G as— s f 5 s 1936 — See S to c k E x c h lis t 85 60 105 96 P r a t t & W h ltn p r e f _ .1 0 0 102 1 s t c o n s o l 5 s 1 9 4 8 — J-J A m e r ic a n B o o k _______ 100 155 103 150 95 90 135 140 R e a lty A s s o c (B k ly n ) l o o ( Y & E R G a s 1 s t 5 s 4 4 J-J 105 100 A m e r ic a n B r a s s . . . . . 1 0 0 113 116 Exo list R o y a l B a k P o w d c o m 100 160 170 97 C o n so t 5 s 1 9 4 5 . . . . - J - J A m e r ic a n C h icle c o m . 100 215 225 99 80 / 60 P r e fe r r e d ---------------- ,100 10'J12 11012 43 P r e f e r r e d ___ ______ 1 0 0 103 105 45 95 ) 85 128 130 S a f e ty C ar H e a t & L t.lO O t 97 9 99 A m G ra p h o p h o n e com lO O 32 7 25 S e n e c a A l i n i n g - - - - - — -**> * ____ 70 P r e fe r r e d _________1 0 0 # ) 200 250 •145 4*5*5** S in g e r M fg C o — ...1 0 0 e P r e f e r r e d 75 127 ..................100 A m er H a r d w a r e ___ . . 1 0 0 90 102 \ 93 20>4 203S S o u t h I & S e o m ( w l) 100 1 s t 5 s 1 9 3 0 ________ M -N 100 105 A m M a ltln g 6 s 1 9 1 4 . - J - I ) 101 75 56 J 60 P r e fe r r e d (w I ) -------J0 0 5bl2 A m e r P r e ss A s s o c ’n . - i o o 100 Other C ities S ta n d a r d C o r d a g e ----- 100 1 *2 B rooklyn ♦39 m G as & E le c , c o m . 50 A m S o d a F o u n t c o m . 1 0 0 41 ‘s J 100 101 1 s t M g 5 s 31 r e d .A -O / 24 26 45 30 P r e fe r r e d _____________50 ♦ 441? 45 1 s t p r e fe r r e d _______ 10 0 102 1 97 A d ju s t Al 5 s A p r 1 1931 / 3 312 Con 5 s g 1 9 3 1 . 6 244 2 .m er L ig h t & T r a c t -lO J 248 2d p r e fe r r e d _______ 100 100 ) 95 20 S ta n d a r d C o u p le r com lO O 32 A m S t F o u n d n e w — S ee S tk E x list P r e f e r r e d .....................1 0 0 107 108 0 191 195 P r e f e r r e d _________ W 0 100 HU 6 s 1 9 3 5 .........................A& O 102l2 100 1*1« 1>4 h K xc list S ta n d a r d M illin g C o — 100 19 20 70 D e b 4 s 1 9 2 3 ______F & A 71*2 I UK i t I* u \ t ' *' — ’ ' ~ lOHt 9 S i3 P r e f e r r e d --------------- 100 58 00 95 1 s t g 5s 1 9 3 8 ____ A & O A m e r ic a n S u r e t y ______50 210 215 99 1 s t 0 s 1 9 3 0 _______ M -N 84 86 ♦412 6>4 S ta n d a r d OU o f N J — 100 705 r o o k ly n U n G a s — S ee S t k E x o lis t A m e r ic a n T h r e a d p r e f . . 5 ____ j 97 706 455 u tla lo C ity G as s to c k 100 634 7»2 A m T o b a c c o C o c o m .1 0 0 x l i o k E x c h list S w if t & C o - S te B o s t S tk E x c lis t 43 A m e r T y p e td e r s c o m - 1 0 0 40 1 s t 5s 1 9 4 7 — S e e S to c k E x c list U E x c list 1 s t 5 s 1 9 1 0 - 1 0 1 4 .. . J - J 10034 i o n 2 100 91 96 P r e fe r r e d __________ 100 o n G as o f N J 5 s '36 .J - J 95 95 e T e x a s & P a c ific C o a l- 1 0 0 0 80 96 100 4>2 A m er W r itin g P a p e r - 1 0 0 31? onsum ers* L H & P o w — 80 J 78 T itle In s C o o f N Y . . . 1 0 0 15212 25*2 24l2 P re fe r r e d __________ 100 5 s 1 9 3 8 ......................... J -D 107 T o n o p a h A lin ( N e v a d a ) . 1 J 97 100 ♦67g '7»* 83 138 1 st 8 f e 5 s 1 9 o p '0 9 J J 86 icn v er G as & E K c — 1 0 0 141 ____ 1 T ren to n P o t te r ie s com lO O N -----4 7 94 101? 111? G en g 5 s 1949 o p - M -N 96«2 A tlG f& W I n d S S L in e s 100 P r e fe r r e d , n e w . - - - 1 0 0 k E xo list 50 60 P r e fe r r e d ____ ______ 100 30'2 3 R 2 T r o w D ir e c t o r y _______ 100 0 ------ - - - - E liz a b e th G a s L t C » ..1 0 O 276 25 35 73 Col tr g 5s 1960 ___ J-J / 72 ____ E sse x & H u d s o n G a s . 109 132 13*5* 0 100 U ni m T y p e w r it e r com lO O 67 69 41 B a r n e y & S m it h C a r -1 0 0 30 73 U E x c list l s r p r e fe r r e d — - — 100 115 118 P r e fe r r e d ___________ lo o 99 102' 971? 95 2d p r e fe r r e d -------. — 100 115 118 jS 90 B e th l m S t e e l C o r p - -See S tk E x list H u d so n C o G a s_______ 109 130 132 109 J 106 U n ite d B k N o t e C o r p .- 5 0 *52 67 In d ia n a L ig h tin g C o . 10C B liss O o m p a n y c o m — 50 113 123 33 35 P r e fe r r e d — --------- . 5 0 *62 Other C ities 67 P re fe r r e d ___________ 50 123 130 70 4s 1 9 5 8 o p ................F -A 73 U n ite d C ig a r M f r s . . - l o o 73 B u ffa lo S t r e e t R y — 75 285 B e n d & M tge G u a r ___ 109 z257>4 25 I n d ia n a p o lis G a s ---------50 30 109 e P r e fe r r e d ------- --— lu o 108 110 A 107 110 B o r d e n ’s O ond M i l k . 100 121 75 1 s t g 5 s 1 9 5 2 ----------- A -O 90 108 --— — « _ 1l o0 o O 106 U n ite d C o p p eerr— 1012 l l l j P referred _________ 100 105 110 88 9212 9734 J a c k s o n G a s 5 s g ‘3 7 , A-O K> 971 ----------— 100 P r e fe r r e d 30 34 71 B r itish C ol C o p p e r . . . . . 5 *733 e L a c le d e G a s - . . . . . . 1 0 0 104 )J 104k 105 S C a s u a l t y - - — — lot) 8215 220 26*4 U B u tte C o a litio n M in in g 15 ♦26 c P r e f e r r e d ------------- 106 j9 8 1 la In U s E n v e lo p e c o m — - 1 0 0 47 62 4 C a sein C o o f A m c o m .1 0 0 21 M a d iso n G as 6 s 1 9 2 6 . A-O 103 108 D 100 104 P r e fe r r e d ____ . . . . 1 0 9 108 L13 60 P r e fe r r e d _________ 100 N e w a r k G a s 6 s 1 9 4 4 ..Q - J 132 53 134 77 ),) 75 U S F in is h in g -------------- 100 106 140 C a s u a lty C o o f A m e r -1 0 0 125 N e w a r k C o n so l G a s— 100 08t2 100 85 X) 80 P r e fe r r e d ____________100 n o 1*16*‘ e C on g 58 1 9 4 8 . . . . J - I ) 108*3 O e llu M d C o....................... 100 130 133 tk E x c list U S S t e e l C o r p o r a tio n — 9 C e n t F ir ew o r k s c o m . .1 0 0 7 N o H u d son L H & P o w — 30 107 n o C o l tr s f 5 s 51 o p t *11 11434 1151s 70 P r e fe r r e d . . . . . . . . 1 0 0 60 5 s 1 9 3 8 ___________ -A -O 110 95 90 91 C o l tr s f 5 s 51 u o t o p t 11434 11618 3 C e n tr a l F o u n d r y ______100 2l4 91 96 fcj 1071 109^2 P a t & P a s G as& E le c -1 0 9 U S T i t G u & ln d c m - 1 0 0 60 18 P r e ferred .....................100 16 e C on g 5 s 1 * 4 * -M S 102 104 e U t a h C o p p er C o -S ee S tk E x o lis t* 72 D e b 6 s 1 9 1 9 o p *01 M -N 68 2 S t J o s e p h G a s ,»s 1 » 3 7 .J 95 IK) 201 — 97l2 W a te r b u r y C o , c o m . .1 0 0 O h e se b r o u g h M fg C o .1 0 0 620 570 T e le iir & le le * lM * o )0 491 50 P re fe r r e d — ---------- lo o 65 *69I2 C ity I n v e s t in g C o . . . . 1 0 0 80 84 S Ik E) list e A m e r T e le g & C a b le .1 0 0 P r e fe r r e d ___________ 1 0 0 97 * 10214 W e s tc h e s te r & B r o n x TK ^Central & 3 o A m er l o o 114 117 90 108 n o & M tge G u a r -----------100 166 «Claffln (H B ) . c o m . .1 0 0 100 105 ec 921 93L C o m m ’l U n l e i ( N Y ) . 2 5 110 120 T r c t f s 2 % t o 6 %p W e s tln g h A ir B r a k e .5 9 * U 7 12 119 95 e l s t p refe r r e d . . . . . 1 0 9 91 65 75 N 1001 10012 E m p & B a y S t a te T e l 100 C oll 5 s g n o t e s 09 W e s t E l & M fg 5 s - S e e S t E x c list 92 0712 e A p r e fe r r e d .. . . . . 1 0 0 40 F ra n k lin ___ ----1 0 0 45 )0 45 55 W h ite K n o b M lu ---------10 00 C ol & H o c k C o a l& l p f 100 ?Go?dl & S t o c k T e l e g l o o 100 115 •N 78 80 P r e ferred — — — . 1 0 * ___ 1 s t g 5 s 1 9 1 7 ............... J-J N Y 4 N J T e le p h — S ee S t k E x c list 99 77 78 W o r th in g P u m p p r e f- 1 0 0 100 109l2 104 C al tr 6 s O c t 1 9 5 6 . _J-J -D 10612 10714 e N o r th w e s te r n T e l e g . . 50 198 114 30 C s n s o l C ar H e a t in g — 100 70 P actftc & A t la n t i c . . . . . 2 5 78 -J 108 n o C o n s R v L e t * R e f r i g .1 0 0 90 10O S o u th e r n A_A tla n t i c . . 25 * P e r s h a r e , c E x - r lg n ts . S B a s ts , j S e lls o n S t k . E x ., b u t n o t v e r y a c tiv e . / F l a t p r ice . iT f io m , r. S a lo p r ic e . z E x - d I T . V B x 'r ig h t s . * N ew stock . Volume of Business at Stock Exchanges Bid A sk E le c tr ic C o m p a n ie s C h ic a g o E d is o n C o See Ch c a g o l is t e K in g s C o E l L & P C o 100 131 133 Outside Securities 1 2 2 Jtmtestmetxl and Railroad Intelligence* RAILROAD GROSS EARNINGS. The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other period. T h e r e t u r n s o f th e s tr e e t r a i l w a y s a r e b r o u g h t to g e th e r s e p a r a t e l y o n a s u b s e q u e n t p a g e . Latest Gross E a rn in g s. W eek or M o n th . A la N 0 4 T e x P a c N O & N E a s t . . r J u l y ___ A la & V lc k s b ___r J u ly . . . V ic k s S h r & P a c .r J u l y ___ A la T c n n & N o r t h , J u n e ____ fc A tc h T o p & S F e . J u n e _____ A tla n ta B lr m & A tl 4 t h w k J u ly A t la n tic C o a s t L in e J u n o ____ B a ltim o r e & O h i o . . J u n e _____ B a n g o r & A r o o sto o k J u n e ______ B e lle f o n t e C e n t r a l.. J u l y _____ B o s to n & M a in e ..r J u n o _____ B r id g e to n & S a c o R J u n e ______ B u ll R o c h & P i t t s . 1 st w k A u g M a y _____ B u ffa lo & S u s q — C a n a d ia n N o r th e r n 1 st w k A u g C a n a d ia n P a c illc — 1st w k A u g C en tral ot G e o r g ia . 1 s t w k A u g C entral ot N e w Jers M ay . . . M a y _____ C en tral V e r m o n t C h a tta n o o g a S o u t h . 4 t h w k J u ly C h esa p e a k e & O h io 1 s t w k A u g C h este r fie ld & L a n e J u n e _____ C h icago & A lto n R y 4 t h w k J u ly O htc Burl & O u ln c y r M ay _____ C h ic a g o G re a t W e s t 4 t h w k J u ly C h ic In d & L o u ls v 4 t h w k J u ly C h ic In d & S o u th e r n — S e e N e w C hic M ilw & S t P a u l J u n e ______ C h ic & N o r W e s t . . r J u n o ______ C h ic S t P M & 0 . . r J u n e ______ C h ic T e r m T r a n s HR M ay _____ Cln H a m & D a y . . r J u n o _____ C lev Cln C h ic ik S t L — S e e N e w C olo ra d o M id la n d J u n e _____ h C o lo r a d o & S o u th 1 st w k A u g C olu m N c w b & L au J u n o _____ C op p er R a n g e ______ A p r i l _____ J u n e ______ C o r n w a ll ____ C o r n w a ll & L e b a n .r M a y ______ C u b a R a ilr o a d _____ J u n e ______ 1 D e la w a r e & H u d . J u n e ______ D e l L a c k & W e s t .r J u n o _____ D c n v & R io G ran de 1 st w k A u g D e t T o l & I r o n t S y s 4 th w k J u ly 4 t h w k J u ly A nn A rbor. D e t r o it & M a c k in a c 1 s t w k A u g D u l & Iro n R a n g e .r J u n e ______ D u l S o u S h & A tl__ 1 s t w k A u g El P a s o & S o W e s .r M a y ______ E r i e ________________ M a y _____ E v a n s v ille & T erre H a u te — See F a ir c h ild & N E ___ J u n e ___ _ F o n d a J o h n s & G lov J u n e _____ G eo r g ia R a i l r o a d .. J u n e _____ G eo r g ia S o u t h & Fla — S e c S o u t G ran d T r u n k S y s t . 1 st w k A u g G r T r u n k W e s t . 4 t h w k J u ly D e t Gr H a v & MU 4 t h w y J u ly C a n a d a A t l a n t i c . 4 t h w k J u ly G re a t N o r th e r n S y s t J u l y ............ G u lf & S h ip I s la n d . J u n o _____ H o c k in g V a lle y ____ J u n e _____ I llin o is C e n t r a l ____ J u l y _____ I n t e r n a t & G t N o r . 1 st w k A u g a I n t e r o c e a n lc M e x . 1 s t w k A u g l o w a C e n tr a l_______ 1 s t w k A u g K a n a w h a & M ic h . . J u n e ______ K a n s a s C it y S o u t h . J u n e _____ K C M cx & O r ie n t. 3 d w k J u ly L a k e E ric & W c st'n — S e e N ew L a k e S h o r e & M Sou — S e c N e w L e h ig h V a lle y _____ M a y _____ L e x in g t o n & E a s t . . J u n o ______ L o n g I s la n d ------------ J u n o ______ L o u is ia n a & A r k a n . J u n e ______ L o u ls v H c n d & S t L J u n o ______ L o u is v ille & N a s h v . 1 st w k A u g M a c o n & B lr m ln g ’m J u l y ............ M a in e C e n t r a l ____ r J u n e ______ M a n is t lq u e _________ J u n e _____ M a r y la n d & P c n n . . J u n e _____ a M e x ic a n I n t e r n a t . 1 s t w k A u g a M e x ic a n R a i l w a y . 4 t h w k J u ly a M e x ic a n S o u th e r n 4 th w k J u ly M ic h ig a n C e n tr a 1— S ec N e w Y M in er a l R a n g e ____ 1 s t w k A u g M In n eap & S t L o u is 1 st w k A u g M in n S t P & S S M . 1 't w k A u g C h ic a g o D i v is io n . 1 st w k A u g M isso u ri K a n & T e x J u n e _____ AIo 1’a c Ao I r o n M t_ 1 s t w k A u g C e n tr a l B r a n c h . . 1 st w k A u g T o t a l s y s t e m ____ 1 st w k A u g b M o b ile J a c k & K C W k J u l y 31 N a s h v C h a tt & S t L J u n o ____ a N a t R y s o f M ex ico 1 s t w k A u g N e v a d a -C a l-O r e g o n . 4 th w k J u ly C urrent Y ear. P revious Y ea r. 2 4 0 ,8 1 5 1 2 1 ,3 3 2 1 0 0 ,2 9 8 4 ,0 4 7 8 ,1 0 2 ,5 0 1 5 6 ,0 7 7 2 ,0 3 3 ,0 1 8 6 ,2 1 2 ,0 8 1 1 0 3 ,7 1 0 4 ,1 8 9 3 ,4 4 8 ,8 7 3 4 ,0 0 0 1 8 0 ,7 6 3 1 8 5 ,9 3 8 1 9 5 ,2 0 0 1 ,6 2 7 ,0 0 0 1 9 7 ,9 0 0 2 ,0 0 0 ,8 9 0 2 9 3 ,5 2 6 2 ,0 2 7 5 2 8 ,2 9 4 3 .0 8 3 2 8 3 .8 5 1 1 3 9 ,7 5 1 2 4 4 ,8 1 2 1 6 5 ,4 6 9 Y o rk Cen 4 ,9 8 4 ,6 3 5 5 ,6 7 1 ,5 3 7 1 ,1 4 3 ,7 3 8 0 7 ,1 8 6 6 4 2 ,4 2 8 Y o rk Cen 1 8 8 ,8 5 0 2 8 0 ,6 7 2 1 6 ,7 5 6 5 5 ,0 6 6 1 0 ,7 1 5 2 7 ,4 0 6 1 0 6 ,7 0 4 1 ,5 4 5 ,7 4 1 2 ,8 8 2 ,9 5 2 4 6 5 ,8 0 0 3 7 ,0 2 3 5 2 ,2 2 8 2 2 ,2 8 4 1 ,0 4 8 ,6 8 8 7 7 ,4 7 0 6 3 2 ,2 5 2 4 ,2 0 9 ,7 2 8 R o c k Is 1 ,3 1 7 6 9 .7 1 4 1 7 9 ,7 4 0 hern R ail 8 3 2 ,4 7 5 1 5 1 ,2 9 0 4 3 ,8 0 3 4 5 ,9 1 0 5 ,1 4 4 ,9 7 5 1 4 0 ,3 9 0 4 6 9 018 4 ,5 0 9 ,0 3 7 1 1 7 .0 0 0 1 1 3 ,4 3 0 5 6 ,1 5 0 1 5 5 ,9 1 7 7 0 0 ,8 8 2 3 4 .7 1 4 Y ork Cen Y o r k Cen 2 ,8 3 0 ,3 4 6 3 6 ,3 6 6 In c . 64 9 2 ,4 1 2 8 4 ,2 1 5 8 8 1 ,3 4 7 1 1 ,1 8 4 7 5 5 ,3 0 8 4 ,4 7 7 2 9 ,8 0 5 1 2 3 ,1 1 3 2 1 4 ,5 0 0 3 0 ,8 3 5 o rk C cntr 1 6 ,9 7 1 7 5 ,4 5 2 2 5 1 ,4 0 7 1 7 1 ,7 6 0 1 ,8 9 0 .8 7 1 8 9 3 .0 0 0 3 4 ,0 0 0 0 2 7 .0 0 0 2 4 ,6 0 7 8 9 7 ,2 3 5 9 5 4 ,7 2 4 1 6 ,6 7 1 2 1 2 ,1 0 6 1 1 7 ,6 1 1 1 0 8 .3 0 0 3 ,5 5 2 0 ,3 3 0 ,6 1 8 4 5 ,7 3 8 1 ,9 2 8 ,9 6 6 5 .4 3 6 .2 5 1 1 8 0 ,8 9 4 4 ,9 5 3 3 ,0 4 5 ,6 0 2 0 ,2 6 5 1 4 4 ,0 5 3 1 4 9 .3 0 0 1 7 4 ,4 0 0 1 ,4 7 0 ,0 0 0 1 9 3 ,7 0 0 2 ,2 8 0 ,1 6 6 2 6 5 ,6 0 5 1 ,9 8 0 5 2 7 ,5 9 3 3 ,3 9 2 2 7 5 ,8 4 3 5 ,5 6 7 ,5 0 2 2 3 7 ,6 6 1 1 4 6 ,6 4 3 tra l. 4 ,3 9 1 ,2 6 5 4 ,8 0 9 ,5 1 9 9 3 2 ,2 7 5 7 7 ,5 2 3 6 6 0 ,7 5 7 tr a l. 1 0 4 ,9 6 7 2 6 8 ,9 2 2 1 5 ,8 6 4 5 6 ,4 3 2 4 ,7 7 7 1 9 ,3 4 8 1 4 5 ,5 6 7 1 ,4 9 7 ,8 7 5 ,8 8 9 ,8 9 3 3 0 7 ,9 0 0 3 9 .4 4 4 4 8 ,3 4 5 2 2 ,0 3 0 5 5 9 ,7 5 0 5 6 ,4 8 2 4 9 6 ,6 7 4 3 .8 5 1 .2 5 2 la n d S y s t 1 ,6 1 3 6 3 ,6 2 1 1 9 1 ,1 9 0 w ay. 7 9 4 ,5 6 2 1 5 6 ,8 0 4 5 5 .4 4 4 6 3 ,6 5 3 4 ,4 5 0 ,4 9 3 1 2 6 ,9 1 2 4 4 8 ,6 2 1 4 ,2 5 3 ,2 5 7 1 0 6 ,0 0 0 1 2 4 ,0 2 2 5 5 ,1 9 1 1 7 7 ,4 4 0 0 1 1 ,5 5 5 2 1 ,2 5 5 tra l. tra l. 2 ,9 8 2 ,1 6 7 3 5 ,0 6 5 549 9 7 ,6 0 4 75 066 8 2 0 ,1 2 7 1 1 ,3 8 7 0 8 8 ,0 4 0 6 ,2 3 5 2 9 ,7 2 0 1 2 9 ,8 0 9 201,100 3 4 ,9 4 6 a!. 1 3 ,6 7 2 7 2 ,0 9 1 2 1 2 ,4 9 4 1 4 0 ,8 4 2 1 ,7 3 0 ,1 1 4 7 3 4 .0 0 0 3 4 ,0 0 0 7 6 8 .0 0 0 2 3 ,7 7 3 7 7 9 ,3 1 3 8 3 9 ,3 4 8 11,002 J u ly 1 to L a test D ate. C urrent Y ea r. 24 0 , 8 1 5 121, 3 3 2 1 0 6 ,298 61 .715 9 4 ,2 6 5 ,71 174 532 2 6 ,1 4 4 ,065 7 1 ,0 4 3 ,510 2 ,8 1 8 ,414 4, 189 3 9 ,5 2 8 ,698 48 511 1 ,0 0 4 , 273 2 ,0 9 4 ,398 1 ,0 3 8 7 0 0 8 ,6 3 1 000 1 ,0 7 9 ,200 2 3 ,4 1 5 0 3 8 3 ,2 0 2 0 3 5 6 ,4 2 7 2 ,8 4 4 688 54, 246 1 ,0 1 5 , 2 4 4 7 2 ,1 8 5 , 863 64 9 , 902 4 8 4 , 899 P revio u s Y ea r. 2 1 2 ,1 0 6 1 1 7 ,6 1 1 1 0 8 ,3 0 0 4 5 ,6 6 4 ,6 1 7 ,7 9 6 1 4 1 ,7 8 8 ,0 2 9 ,0 5 2 ,6 0 8 ,7 8 1 ,6 1 8 ,3 2 8 4 ,9 5 3 .9 9 0 ,7 4 9 5 2 ,9 9 9 8 1 6 ,6 8 2 .9 2 5 ,6 1 8 9 0 2 ,9 0 0 ,6 66 ,000 ,1 2 5 ,0 0 0 ,9 2 2 ,8 8 7 ,1 1 8 ,0 3 0 1 1 ,5 0 2 ,6 2 2 ,7 2 5 6 2 ,5 5 2 ,0 5 7 ,0 3 6 ,0 0 4 ,8 0 7 6 5 8 ,9 8 4 4 4 2 ,3 2 1 5 9 ,8 9 7 ,4 6 3 5 6 ,0 3 2 ,6 2 0 6 5 ,9 7 8 ,4 7 1 6 3 ,2 1 9 ,3 4 4 1 3 ,5 2 4 ,6 5 0 1 2 ,8 6 5 ,6 9 4 1 ,0 0 0 ,1 3 3 1 ,0 0 9 ,4 3 0 7 ,8 9 7 ,0 4 8 8 .0 1 1 ,4 8 4 ,2 0 0 ,7 0 5 ,5 0 9 ,2 0 1 2 8 2 .5 8 1 6 6 9 ,2 4 9 1 1 7 ,7 3 3 2 8 6 ,0 3 6 ,0 3 9 ,4 6 8 ,5 3 5 ,1 1 4 ,8 1 0 ,2 5 4 ,9 9 5 ,4 0 0 1 1 0 ,5 0 0 1 4 1 ,4 0 6 1 2 5 ,3 7 7 ,2 0 7 ,5 0 9 2 8 7 ,4 1 4 ,0 3 4 ,6 6 6 ,6 7 0 .3 7 0 2 ,3 1 2 5 9 0 1 ,5 0 8 0 0 8 2 7 9 231 6 2 5 ,161 106 360 300 885 2 ,1 5 7 ,165 1 8 ,7 9 8 586 3 3 ,5 5 3 4 3 6 2 ,4 1 0 200 1 0 9 962 154 144 124 4 1 0 6 ,8 4 7 572 3 7 5 034 6 ,6 4 5 6 0 2 4 6 ,2 4 3 2 9 7 era. 1 9 , 894 7 7 3 , 848 2 ,7 5 1 0 0 4 1 9 ,3 0 9 7 7 7 ,4 7 4 2 ,8 5 8 ,7 5 0 4 ,3 3 0 )6 5 9 4 7 0 ,8 9 2 1 5 0 ,3 6 5 1 4 9 ,2 6 5 5 ,1 4 4 ,9 7 5 1 ,8 7 3 ,1 9 6 5 ,8 7 8 ,4 1 4 4 ,5 9 9 ,0 3 7 6 7 8 ,0 0 0 6 6 6 ,1 6 6 3 0 6 ,0 3 0 2 ,1 2 7 ,6 3 7 8 ,9 0 1 ,3 9 6 9 1 ,8 4 6 4 ,1 1 4 ,6 7 6 4 6 8 ,4 6 8 1 4 9 ,1 3 5 1 8 2 ,2 3 0 4 ,4 5 0 ,4 9 3 2 ,0 6 6 ,8 7 8 5 ,8 4 1 ,7 6 3 4 ,2 5 3 ,2 5 7 6 0 9 ,0 0 0 6 6 6 ,3 6 4 2 8 6 ,9 0 4 2 ,0 2 2 ,0 3 8 8 ,8 9 3 ,3 6 1 5 1 ,3 2 1 Latest Gross E a r n in g s . S 4 ,9 5 4 6 ,9 4 3 ,9 4 1 3 ,0 0 4 ,3 9 0 3 4 0 ,3 8 0 2 0 7 ,4 2 6 1 ,9 2 3 ,4 2 4 1 ,9 5 6 ,9 4 6 2 1 6 ,1 0 9 8 0 ,7 3 5 8 3 3 ,7 9 2 2 3 4 ,9 1 1 6 3 2 ,1 1 4 16374165 7 4 0 ,2 6 4 4 .1 3 2 ,5 6 3 2 6 1 ,3 2 2 1 9 3 ,7 8 6 2 ,1 5 1 ,2 3 6 9 6 9 ,3 0 2 4 ,2 4 0 ,6 9 8 5 3 6 ,5 7 6 3 ,5 0 9 ,6 1 4 11313187 1 ,6 0 0 1 ,0 1 2 ,1 3 2 1 ,4 3 0 ,3 1 7 2 ,2 0 5 ,3 7 3 9 ,1 9 7 3 J 2 9 4 .9 3 2 3 ,0 7 5 ,7 6 5 6 .3 7 0 ,6 9 7 1 7 8 .0 6 0 6 5 ,6 5 2 1 6 ,0 1 6 4 ,1 9 7 ,2 7 9 2 ,4 2 3 ,1 9 2 7 6 7 ,7 3 9 1 6 2 ,0 4 4 7 ,5 5 0 ,2 5 4 1 1 8 ,4 7 9 1 7 7 ,2 4 5 6 0 5 ,7 6 0 1 ,1 6 3 ,3 7 9 5 9 ,4 2 3 1 1 ,0 1 6 8 5 ,7 5 4 9 ,2 6 3 ,5 9 0 8 6 6 ,8 6 4 1 4 7 ,7 4 6 2 3 2 ,4 8 5 1 1 7 ,2 7 7 4 5 ,9 1 7 1 7 ,3 3 6 2 2 4 ,1 0 1 6 ,3 1 2 3 5 5 ,7 0 9 1 7 ,9 9 2 8 3 ,0 6 5 0 ,5 8 0 6 ,1 3 1 ,1 8 2 6 9 2 .3 0 8 8 6 ,3 3 2 5 2 7 .3 0 8 4 1 5 ,4 5 9 4 9 9 ,2 2 4 4 7 1 ,4 1 1 801 1 4 ,9 3 4 6 8 4 ,5 5 1 N e v a d a C e n tr a l____ e lf Y C & H ud R lv . L ak e Shore & M S n L a k e E r ie & W e s t C h ic I n d & S o u th M ic h ig a n C e n tr a l. C le v e C C & S t L . P e o r la & E a s te r n C in c in n a ti N o r t h . P i t t s & L a k e E r ie R u t la n d ________ N Y C h ic & S t L . T o t a l a il lin e s ___ N Y O n t & W e s te r n N Y N H & H a r t - .r N Y Su sq & W e s t.. N o r f o lk & S o u t h ._ r N o r fo lk & W e s te r n . N o r t h e r n C e n tr a l . . N o r t h e r n P a c i f i c .. r P a c ific C o a s t C o ___ P e n n s y lv a n ia C o ._ r d P en n — E of P & E d W est of P & E . P e r e M a r q u e tt e ___ r P h lla B a lt & W a s h . P i t t s Cln C h ic <5cStL R a le ig h & S o u t h p ’t R e a d in g C o m p a n y . C o a l & Ir o n C o . . T o t a l b o th c o s ___ R ic h F r e d & P o t . . r R io G ra n d e J u n e ___ R io G ra n d e S o u t h . . R o c k I s la n d S y s t e m S t L & San F ra n . C h ic & B a s t I I I . . T E v a n sv & T er H T o t a i o f a ll l in e s . S t J o s & G ran d I s l . S t L o u is S o u t h w e s t . S a n P cd LA & S L .r S e a b o a r d A ir L i n e . A t la n t a & B lr m . F lo r id a W e s t S h . S o u t h e r n I n d ia n a .r c S o u th ern P a c C o . S o u th ern R a ilw a y . . M o b ile & O h io ___ C ln N O & T e x P . A la G r e a t S o u t h . G eo r g ia S o n & F la T e x a s C e n tr a l_____ T e x a s & P a c ific ____ T id e w a t e r & W e s t . r T o le d o & O h io C e n t T o le d o P o o r & W e s t T o le d o S t L & W e s t T o m b lg b e e V a l l e y . _ U n io n P a c ific S y s t . V a n d a lla ___________r V ir g in ia & S o u W e s t W a b a s h ____________ W e s te r n M a r y la n d r W e s tJ e r s e y & S e a s h W h e e lin g & L E . . r W h ite R iv ( V t ) 2 w k s W r lg h ts v llle & T e n n Y a z o o & M iss V a i l . 90, 422, 1 ,2 4 9 , 885 2 5 ,3 0 0 4 ,7 7 7 , 156, 4 ,0 3 3 , 122 , 11 , 122 , 4 ,8 2 4 43 8 4 ,8 4 1 3 8 5 ,7 0 5 ,1 3 9 ,6 4 3 7 9 2 ,4 9 2 ,2 8 3 ,6 7 0 ,2 3 6 ,0 0 0 1 5 3 ,0 0 0 ,3 8 9 ,0 0 0 1 1 5 ,3 4 6 ,8 0 2 ,0 3 5 ,4 8 0 ,3 6 7 3 1 ,0 8 0 S 6 8 ,0 0 3 9 0 ,7 0 0 ,5 3 0 4 1 ,8 6 9 ,7 5 1 4 ,6 6 1 ,4 6 3 2 ,9 3 2 ,7 8 5 2 5 ,7 7 3 ,5 7 4 : 2 6 ,1 1 3 ,7 0 0 i 2 ,8 3 0 ,0 4 0 1 ,1 0 8 .4 7 5 1 2 .0 8 4 .7 3 7 2 ,8 8 6 ,2 4 8 9 ,5 0 0 ,3 0 1 220476600 8 ,2 9 0 ,1 7 0 4 9 ,5 2 0 ,3 6 3 3 ,0 2 6 ,0 8 0 2 ,1 9 8 ,3 3 9 2 9 ,3 2 7 ,1 0 1 1 1 ,6 5 8 ,6 4 8 0 8 .4 6 0 ,7 4 7 5 ,9 1 8 ,1 3 1 4 1 .6 8 1 ,7 6 5 142419390 D ec. 2 ,4 4 1 4 ,1 6 9 ,5 6 5 1 6 .9 2 9 .3 4 9 2 7 ,5 3 4 ,8 9 4 1 4 0 ,3 7 2 3 6 .8 7 7 ,7 9 5 3 2 ,8 3 8 ,5 5 5 6 9 .7 1 8 .3 5 0 2 ,0 2 6 ,3 2 5 7 9 7 ,4 4 0 4 4 ,6 9 3 6 1 ,1 8 4 ,8 8 7 3 8 .1 9 5 .7 3 8 1 0 ,2 6 9 ,6 1 9 2 .0 9 3 .9 9 7 111744241 1 ,5 6 2 ,1 1 3 9 9 6 ,2 7 7 7 ,4 5 0 .4 6 2 1 6 ,4 5 1 ,6 7 7 8 7 3 ,6 6 7 1 4 3 ,7 2 3 1 ,1 8 9 ,4 5 c 120521909 5 ,2 2 7 ,1 8 4 9 3 7 ,8 3 0 6 6 1 ,0 8 7 2 8 2 ,3 8 5 1 6 3 ,0 4 9 4 9 ,0 7 8 1 .2 2 6 .9 9 8 7 4 ,3 6 2 4 ,0 8 9 ,6 0 7 1 0 2 ,7 0 7 3 0 0 ,5 7 7 8 1 ,3 2 0 7 8 ,7 5 0 ,4 6 1 8 ,7 7 3 ,3 9 5 1 ,1 3 6 ,2 8 6 2 ,7 7 0 ,5 8 5 5 ,4 5 6 ,2 5 0 5 ,4 6 4 ,6 5 8 5 ,6 3 3 ,6 4 4 2 7 2 ,0 6 3 5 8 4 ,5 5 1 Current V a rio u s F isca l Y ea rs. 3 0 ,2 1 1 292 3 2 ,4 4 3 ,5 3 5 4 1 2 ,6 2 5 4 9 7 ,9 3 3 Dec. 58 ,1 3 1 1 ,1 8 6 .4 0 1 1 ,1 4 4 ,5 2 2 1 ,0 2 3 ,7 3 7 9 9 2 ,6 5 2 4 ,7 0 3 ,8 8 2 4 ,5 0 0 ,4 7 8 1 1 ,1 8 4 1 1 ,3 8 7 8 ,3 3 7 ,7 2 3 8 ,5 1 4 ,2 5 6 4 7 ,3 1 1 6 0 ,0 5 1 3 7 8 ,0 2 2 3 8 3 ,3 4 9 6 7 5 ,4 6 7 6 8 6 ,4 0 0 6 7 3 ,7 0 0 6 0 4 ,6 0 0 1 0 8 ,9 2 0 1 0 8 ,1 8 2 J u ly 1 to Latest Date RO AD S. Y ea r. P e rio d . B e lle f o n t e C en tra l I D e la w a r e & H u d so n . M a n istlq u e a M e x ic a n R a ilw a y a M e x ic a n S o u th e r n c N e w Y o r k C e n tr a l & H u d R iv e r L a k e S h o r e & M ic h ig a n S o u th n L a k e E rie & W e s t e r n _______ C h ic a g o I n d ia n a & S o u t h e r n . M ic h ig a n C e n t r a l_____________ C le v e C ln C h ic & S t L o u is ____ P e o r ia & E a s te r n C in c in n a ti N o r th e r n P itt s b u r g h & L a k e Erie. R u t l a n d ________________ N e w Y o r k C h ic a g o & S t L o u is T o t a l a ll l in e s _______ N o r th e r n C e n tr a l........... d P e n n — E a st o f P itts & E r ic .. d W e s t of P itt s b u r g h & E r ie . P h lla B a ltim o r e & W a s h in g to n . P i t t s C ln C h ic a g o & S t L o u is ___ R io G ra n d e J u n c t io n ___________ T e x a s & P a c ific ------------------------ J a n W e s t J e r s e y & S e a s h o r e . _____ Jan P recio u s Y ea r. $ 3 3 ,4 9 4 8 ,8 1 7 ,4 6 2 2 7 ,8 4 5 4 ,5 4 6 ,5 0 0 7 4 7 ,2 2 9 3 8 ,3 1 0 ,5 9 6 1 7 ,8 2 6 ,5 9 0 1 ,9 5 6 ,1 1 7 1 .2 8 5 ,4 0 5 1 1 ,3 3 0 ,9 0 9 1 0 ,8 5 0 ,7 2 5 1 ,2 6 4 ,0 2 4 3 9 5 ,9 1 4 4 ,0 8 7 ,7 1 5 1 ,2 3 3 ,4 9 1 4 ,5 0 9 ,0 1 9 9 3 ,0 5 0 ,5 0 5 5 ,4 3 1 ,2 9 4 6 4 ,0 2 3 ,1 4 9 to J u ly to J u n e to J u n e t o J u ly to J u ly to J u n e to J u n e to Ju n e to J u n e to J u n e to Ju n e to Ju n o to June to Ju n e to J u n e to Ju n o to J u n e to J u n o to J u n e to Ju n e to Ju n e to Ju n e to M ay to A ug to J u n e 1,100 7 ,7 4 0 ,2 1 1 1 2 ,2 2 4 ,5 4 3 3 5 2 ,9 2 7 7 ,1 8 7 ,6 8 4 2 ,2 7 2 ,3 5 2 AGGREGATES OF GROSS EARNINGS—Weekly and Monthly. W eekly S u m m a rie s. C u r'n t Y ear P rev's Y ear In c . cr D ec. S 1 4 ,5 2 4 ,7 8 4 1 0 .2 9 5 ,3 3 6 1 0 ,5 6 9 ,5 6 6 1 0 .6 6 8 ,6 1 9 1 4 ,4 2 5 ,8 3 5 1 0 ,3 4 7 ,6 0 5 1 0 ,4 4 7 ,1 4 6 1 0 ,7 9 5 ,9 8 0 1 6 ,5 8 0 ,1 7 3 1 0 ,2 7 1 ,3 9 1 $ 1 2 ,3 2 0 ,5 0 5 9 ,2 9 7 ,1 5 2 9 ,6 1 8 ,0 1 0 9 ,7 6 3 ,4 0 4 1 3 ,3 9 0 ,1 3 1 9 ,5 1 7 ,5 4 6 1 0 ,0 5 2 ,8 1 8 1 0 ,2 2 8 ,1 8 7 1 5 ,0 7 5 ,8 3 4 9 ,2 6 0 ,9 6 2 % 5 + 2 ,2 0 4 ,2 7 9 1 7 .8 9 + 9 9 8 ,1 8 4 1 0 .7 4 + 9 5 1 ,5 5 6 9 .8 9 + 9 0 5 ,2 1 5 9 .2 7 + 1 ,0 3 5 ,7 0 4 7 .7 3 + 8 3 0 ,0 5 9 8 .7 2 + 3 9 4 ,3 2 8 3 .9 2 4 -5 6 7 ,7 9 3 5 .5 5 + 1 ,5 0 4 ,3 3 9 9 .9 8 + 1 .0 1 0 ,4 2 9 1 1 .4 8 M o n th ly S u m m a r ie s. C u r’n t Y ear P rev’s Y ear I n c . or Dec. 5 2 3 1 ,6 1 5 ,1 2 9 2 1 0 .9 7 1 .1 2 3 2 0 5 ,2 1 6 .4 8 1 1 8 2 .3 4 7 ,8 4 2 1 7 3 ,8 6 7 ,2 0 6 2 0 2 ,1 6 7 ,4 2 5 1 9 1 ,1 1 9 ,0 3 5 2 0 1 ,1 4 3 ,8 4 0 9 7 ,0 3 5 ,3 3 2 5 3 ,9 0 4 ,0 0 4 S % $ 4 th w e e k M ay M o n th O c t 1 9 0 8 (7 9 6 r o a d s ) . 2 4 9 ,9 3 2 ,1 4 5 — 1 8 ,3 1 7 ,0 1 6 7.45 1 st w eek Ju n e M o n th N o v 1 9 0 8 (8 0 4 r o a d s ) . 2 1 8 ,9 6 7 ,7 3 1 — 7 ,9 9 6 ,6 0 8 3 .8 5 2d w eek Ju n e M o n th D e c 1 9 0 8 (7 9 8 r o a d s ) . 1 9 3 ,7 9 1 ,6 4 5 + 1 1 ,4 2 4 ,8 3 6 5 .9 0 3d w eek June M o n th J a n 1 9 0 9 (7 5 0 r o a d s ) . 1 7 2 .2 7 5 ,9 4 6 + 1 0 ,0 7 1 ,8 9 6 5.84 4 th w eek Ju n o M o n th F e b 1 9 0 9 (7 9 2 r o a d s ) . 1 5 9 ,9 8 2 ,8 9 6 + 1 3 ,8 8 4 ,3 1 0 8 .8 8 1 s t w e e k J u ly M o n th M ch 1 9 0 9 (7 1 5 r o a d s ) . 1 8 0 ,8 8 9 ,1 9 5 + 2 1 ,2 7 8 ,3 3 0 1 1 .7 8 2 d w e e k J u ly M o n th A p ril 1 9 0 9 (8 1 5 r o a d s ) . 1 6 0 ,9 1 2 ,8 2 7 + 2 1 ,2 0 6 ,2 0 8 12.48 3 d w e e k J u ly M o n th M a y 19 0 9 (8 4 9 r o a d s ) . 1 7 4 ,1 0 5 ,0 0 1 + 2 7 ,0 3 8 ,8 3 9 1 5 .4 7 4 t h w e e k J u ly M o n th J u n e 1 9 0 9 (2 9 6 r o a d s ) . 8 6 ,4 4 4 ,8 8 2 + 1 0 ,5 9 0 ,4 5 0 12.25 1st w eek A ug M o n th J u ly 1 9 0 9 ( 52 r o a d s) . 4 9 ,7 2 1 ,0 7 1 + 4 ,1 8 2 ,9 3 3 8.42 a M e x ic a n c u r r e n c y , b I n c lu d e s e a r n in g s o f G u lf & C h ic a g o D iv i s i o n , c I n c lu d e s th e H o u s to n & T e x a s C e n tr a l a n d Its s u b s id ia r y lin e s In b o th years, d C o v e r s lin e s d ir e c t ly o p e r a te d , e I n c lu d e s t h e N e w Y o r k & O t t a w a , th o S t . L a w r e n c e & A d ir o n d a c k a n d t h e O tt a w a & N e w Y o r k R y . , t h e l a tt e r ot w h ic h , b e in g a C a n a d ia n r o a d , d o e s n o t m a k e r e tu r n s t o t h e I n t e r - S t a t e C o m m e r c e C o m m is s io n . / I n c l u d e s E v a n s v ille & I n d ia n a R R . h I n c lu d e s e a r n in g s o f C o lo r a d o & S o u t h e r n , F o r t W o r th & D e n v e r C ity a n d a ll a f f ilia t e d lin e s , e x c e p tin g T r in it y & B r a z o s V a lle y R R . k I n c lu d e s In b o t h year* e a r n in g s o f D e n v e r E n id & G u lf R R ., P e o o s V a lle y S y s t e m a n d S a n t a F e P r e s c o t t & P h o e n ix R y . I T h e s e fig u r e s d o n o t in c lu d e r e c e ip t s fr o m s a le ot c9 ? i « I n c lu d e s th o N o r th e r n O h io R R . o F ig u r e s h e r e a r c o n t h e o ld b a s is o f a c c o u n t in g — n o t th e n e w or I n t e r - S t a t e C o m m e r c e C o m m is s io n m e t h o d r ' l h c s c fig u r e s arc o n th e n e w b a s is p r e sc r ib e d b y t h e I n t e r - S t a t e C o m m e r c e C o m m is s io n . (44 (44 (44 (44 (45 (40 (44 (44 (49 (31 r o a d s ) ____ r o a d s ) ____ r o a d s ) ____ r o a d s )____ r o a d s ) ____ r o a d s ) ------r o a d s ) ____ r o a d s )____ r o a d s ) ------r o a d s ) ____ Latest Gross Earnings by Weeks.—In the table which follows we sum up separately the earnings for the first week of August. The table covers 31 roads and shows 11.48% 1909. F ir s t W eek of A u g u s t. B u ff a lo R o c h e s t e r & P itt s b u r g h C a n a d ia n N o r t h e r n .............. C a n a d ia n P a c if ic --------------C e n tr a l o f G e o r g ia ------------C h e s a p e a k e & O h io ---------C o lo r a d o & S o u t h e r n -----D e n v e r & R io G r a n d e — D e t r o it & M a c k in a c ........... D u lu t h S o u t h S h o r e & A t la n tic G r a n d T r u n k o f C a n a d a ___. . . G ra n d T r u n k W e s te r n -------D e t r o it Gr H a v & M U w ____ C a n a d a A t l a n t i c _____________ I n t e r n a t io n a l & G re a t N o r th e r n I n t e r o c e a n lc o f M e x ic o _________ I o w a C e n t r a l _____________ _____ L o u is v ille & N a s h v i l le ________ M e x ic a n I n t e r n a t io n a l------------M in er a l R a n g e . -----------------------M in n e a p o lis & S t L o u is ----------M ln n e a p S t P & S S M ------------C h ic a g o D i v i s i o n ------------------M o P a c ific & Iro n M o u n t a in .. C e n tr a l B r a n c h --------------------M o b ile & O h io -------------------------S t L o u is S o u t h w e s t e r n — S o u t h e r n R a i l w a y ________ T e x a s & P a c if ic ___________ T o le d o P e o r ia & W e s t e r n . W a b a s h ........................................ T o t a l (31 r o a d s ) _____ N e t In c r ea se ( 1 1 .4 8 % ) . 1908. Increase. S 1 8 0 ,7 6 3 1 9 5 ,2 0 0 1 ,6 2 7 ,0 0 0 1 9 7 ,9 0 0 5 2 8 ,2 9 4 2 8 0 ,6 7 2 4 6 5 ,8 0 0 2 2 ,2 8 4 7 7 ,4 7 0 1 4 4 ,0 5 3 1 7 4 ,4 0 0 1 ,4 7 0 ,0 0 0 1 9 3 ,7 0 0 5 2 7 ,5 9 3 2 6 8 ,9 2 2 3 6 7 ,9 0 0 2 2 ,0 3 0 5 6 ,4 8 2 $ 3 6 ,7 1 0 2 0 ,8 0 0 1 5 7 ,0 0 0 4 ,2 0 0 701 1 1 ,7 5 0 9 7 ,9 0 0 254 2 0 ,9 8 8 8 3 2 ,4 7 5 7 9 4 ,5 6 2 3 7 ,9 1 3 1 1 7 ,0 0 0 1 1 3 ,4 3 0 5 6 ,1 5 0 8 8 1 ,3 4 7 1 2 3 ,1 1 3 1 6 ,9 7 1 7 5 ,4 5 2 2 5 1 ,4 0 7 1 7 1 ,7 6 0 8 9 3 ,0 0 0 3 4 ,0 0 0 1 7 3 ,6 8 1 9 5 4 ,7 2 4 1 9 2 ,4 0 8 1 ,0 0 3 ,7 8 0 2 3 1 ,0 0 4 1 9 ,5 4 1 5 5 4 ,7 6 4 1 0 6 ,0 0 0 1 2 1 ,9 2 2 5 5 ,1 9 1 8 2 0 ,1 2 5 1 2 9 ,8 0 9 1 3 ,6 4 2 7 2 ,6 9 1 2 1 2 ,4 9 4 1 4 0 ,8 4 2 7 3 4 ,0 0 0 3 4 ,0 0 0 1 4 7 ,7 4 6 8 3 9 ,3 4 8 1 7 7 ,2 4 5 8 6 6 ,8 6 4 2 2 4 ,1 0 1 1 7 ,9 9 2 5 2 7 ,3 0 8 11,000 1 0 ,2 7 1 ,3 9 1 $ C u rren t Y ear. C urren t Y ea r. P rev io u s Y ear. P rev io u s Y ear. $ 5 S $ 015 35 6 ,3 1 2 5 ,8 8 1 T id e w a t e r & W e s t . b — J u n e 6 ,5 0 4 5 ,6 3 9 8 8 ,0 8 1 7 4 ,3 6 2 J u l y 1 t o J u n e 3 0 ----------2 1 ,1 0 4 1 4 ,4 9 4 9 1 ,3 6 5 8 3 ,1 6 6 T o l P e o r ia & W e s t . b . - - J u l y • 7 )7 5 ,5 9 5 » 1 55,8.3.3 2 8 1 ,0 7 5 2 9 4 ,1 9 5 T o le d o S t L & W e s t . a . - J u n e! . 3 ,4 2 8 ,6 4 4 3 ,8 2 2 ,8 3 4 7 )1 ,2 0 6 ,7 6 9 7 )1 .1 1 0 ,4 0 5 7 1 2 ,5 3 9 6 8 2 ,0 4 7 2 ,1 4 7 ,4 6 8 : 2 ,3 0 1 ,4 3 4 7 ,1 1 0 ,8 4 9 0 ,8 9 6 ,3 2 6 2 5 ,8 6 8 ,0 3 3 2 5 ,7 4 0 ,0 7 4 S T R IA L C O M P A N IE S . C u rren t Y ea r. C o m p a n ies. $ 8 ,4 9 2 959 6 1 ,2 2 2 6 ,6 9 6 3 ,3 2 9 2 ,7 6 1 3 8 ,9 1 3 3 0 ,9 1 8 1 5 9 ,0 0 0 2 5 ,9 3 5 1 1 5 ,3 7 6 1 5 ,1 6 4 1 3 6 ,9 1 6 6 ,9 0 3 1 ,5 4 9 2 7 ,4 5 6 9 ,2 6 0 ,9 6 2 1 ,0 2 5 ,6 1 7 1 ,0 1 0 ,4 2 9 ------- N et E a r n in g s ------- --------Gross E a r n in g s — R o a d s. 1 5 ,1 8 8 A b ln g t o n & R o c k la n d E le c L ig h t & P o w e r C o — J u n e■ . J a n 1 to Ju n e 3 0 . ; ; E d is o n E l C o (B r o c k to n ) J u n e . J a n 1 to Ju n e 3 0 . F a ll R iv e r G a s W o r k s . .J u n e; J a n 1 to J u n e 3 0 . H o u g h t o n C o E le c C o . .J u n e! . J a n 1 to Ju n e 3 0 . ; L o w e ll E le c tr ic C o r p . . . J a n 1 to J u n e 3 0 . M in n e a p o lis G en E l e c . .J u n e; . 4 ,4 5 9 3 0 ,8 2 7 7 2 ,2 6 2 1 8 ,2 0 1 1 2 8 ,3 3 9 3 2 ,2 5 5 1 9 0 ,8 6 2 1 7 ,0 5 6 1 2 6 ,3 6 0 2 5 ,6 9 4 1 7 3 ,4 7 7 8 2 ,4 1 6 5 4 2 ,4 0 8 P rev io u s Y ear. C u rre n t Y ear. P rev io u s Y ear. $ $ $ 4 ,3 1 5 2 7 ,9 2 6 6 3 ,6 6 2 1 4 ,8 3 3 1 0 4 ,5 4 2 3 3 ,9 4 5 1 9 3 ,0 0 2 1 5 ,9 9 5 1 1 5 ,5 6 0 2 5 ,4 9 4 1 6 6 ,1 6 6 7 0 ,7 6 6 4 8 2 ,5 2 8 1 ,4 3 5 1 0 ,1 3 0 3 3 ,3 4 8 7 ,9 5 8 5 7 ,1 2 2 1 3 ,0 7 8 7 9 ,2 7 6 7 ,9 6 1 6 3 ,0 4 8 9 ,6 8 0 6 8 ,0 7 7 4 4 ,5 6 1 3 0 9 ,7 1 0 1 ,7 9 0 1 1 ,1 6 6 2 7 ,6 4 0 6 ,6 8 8 4 6 ,2 8 3 1 5 ,6 7 0 7 1 ,2 4 9 6 ,5 3 7 5 6 ,2 5 9 9 ,3 6 9 6 9 ,6 3 3 3 8 ,9 2 8 2 6 8 ,3 9 8 a N e t e a r n in g s h e r e g iv e n a r e a f t e r d c d c u t in g t a x e s , b N e t e a r n in g s h ere g iv e n a r e b e fo r e d e d u c t in g t a x e s . ( /T h e s e r e s u lt s a r e In M e x ic a n c u r r e n c y . p F o r J u n e m is c e lla n e o u s c r e d it s to Income w a s $ 4 1 2 ,4 0 0 , a g a i n s t $ 2 4 1 ,1 3 9 lu 1 9 0 8 , ancl fo r p e r io d fr o m J u ly 1 t o J u n e 3 0 w a s $7.> 0 ,7 3 ,. In 1 9 0 9 , a g a in s t $ 2 6 3 ,7 6 3 In 1 9 0 8 . , . s A fte r a llo w in g fo r m is c e lla n e o u s c h a r g e s to In c o m e fo r t h e m o n th of J u n e 1 9 09: t o t a l n e t e a r n in g s w e r e $ 5 0 8 ,4 9 2 , a g a in s t $ 3 2 8 ,9 o o l a s t y e a r , a n d fo r p e r io d fr o m J u ly 1 t o J u n e 3 0 w e r e $ 4 ,5 0 1 ,6 3 7 t h is y e a r , a g a in s t ^ i^ T h 'e s c fig u r e s a r e o n t h e b a s is o f a c c o u n t in g p r e s c r lb d e b y t h e I n t e r S t a t e C o m m e r c e C o m m is s io n . roads and shows 9.98% increase in the aggregate over the same week last year. — I n t . , R en ta ls, & c .— C u rre n t Y ear. R o a d s. F o u rth week o f J u l y . $ 243 B e lle f o n t e C e n t r a l . . ------ J u ly 1 ,7 0 1 J a n 1 t o J u ly 3 1 _______ B o sto n R evere B each & L y n n — A p r 1 t o J u n e 3 0 ______ 1 7 ,9 8 8 J a n 1 t o J u n e 3 0 ____ 3 2 ,6 1 3 J u l y 1 t o J u n e 3 0 ______ 6 9 ,2 8 1 B r id g e to n & S a c o R l v . - J u n e 610 7 ,5 2 5 J u l y 1 t o J u n e 3 0 .............. Colorado M id la n d _______J u n e 3 1 ,3 5 0 J u l y 1 t o J u n e 3 0 ----------3 7 6 ,2 0 0 K an aw h a & M ic h ig a n . .J u n e 2 3 ,3 2 4 J u l y 1 t o J u n e 3 0 _______ 2 7 9 ,9 8 3 N a s h v C h a tt & S t L ------ J u n e 1 5 3 ,9 0 5 J u l y 1 t o J u n e 3 0 _______ 1 ,8 1 7 ,5 2 0 R io G ra n d e S o u t h e r n .. J u n e 1 9 ,2 8 8 J u ly 1 t o J u n e 3 0 . ............ 2 3 2 ,4 1 0 T o le d o P e o r ia & W e s t . . J u l y 2 4 ,6 2 4 P r e v io u s ly r e p o r te d (29 r o a d s ) . A la b a m a G re a t S o u t h e r n .............. A la N e w O ri & T e x P a c — N e w O rl & N o r t h e a s t e r n ____ A la b a m a & V ic k s b u r g _______ V ic k s S h r e v & P a c if ic ________ A t la n ta B ir m in g h a m & A t la n tic C e n tr a l o f G e o r g ia ----------------------C h ic a g o & A lt o n -----------------------C h ic a g o G r e a t W e s te r n .................... C h ic a g o I n d & L o u is v ille _______ C in e N e w O rl & T e x a s P a c if ic . . D e t r o it T o le d o & I r o n t o n _______ A n n A r b o r ____________________ G e o r g ia S o u t h e r n & F l o r id a ____ M e x ic a n R a i l w a y _____________ M e x ic a n S o u t h e r n ___________ M ln n e a p S t P a u l & S S M ___ C h ic a g o D i v i s i o n __________ N e v a d a -C a lifo r n la -O r e g o n _ R io G r a n d e S o u t h e r n _______ T o le d o S t L o u is & W e s t e r n . C o m p a n ies. C u rren t Y ea r. $ Net Earnings Monthly to Latest D ates.—The table fol lowing shows the gross and net earnings of b 1 LAM railroads and of industrial companies reported this week: ------- Gross E a r n in g s -------- C urrent Y ea r. P rev io u s Y ea r. •— Hal o f N e t E ’n g s .— C u rren t P rev io u s Y ear. Y ea r. 5 257 1 .7 9 9 $ d c f .9 5 0 602 $ 1 ,0 1 4 2 ,4 3 4 1 7 ,9 6 0 3 5 ,5 3 9 7 1 ,3 4 1 572 7 ,0 9 9 3 1 ,3 5 0 3 7 2 .6 8 0 2 3 ,9 4 6 2 0 9 ,8 3 7 1 4 2 .6 8 0 1 ,8 1 5 ,9 6 7 1 8 ,2 0 2 2 2 8 ,0 7 2 2 4 ,4 0 6 8 ,4 0 8 £ 3 ,3 3 3 £ 5 2 ,2 4 9 1 ,4 2 6 6 ,7 5 1 e d e f . 14,9.32 c d e f .4 7 ,0 8 6 £ d e f .8 ,6 4 7 £ 1 3 6 ,0 4 9 6 8 ,8 5 1 6 0 0 ,8 0 6 £ d c f .8 ,0 3 1 £ d e f .2 1 ,8 4 8 .r d e f .8 ,1 2 9 £ 1 3 ,3 1 4 £ 5 ,6 6 8 £ 5 2 ,0 7 0 2 ,4 9 4 9 ,8 6 3 0 2 2 ,5 1 1 0 2 2 ,3 1 8 £ 3 0 ,9 0 0 £ 1 2 8 ,3 9 1 7 7 ,7 5 9 6 4 8 ,9 3 1 £ 6 ,3 6 4 £ 3 1 ,0 3 7 £ d c f .2 ,6 2 5 IN D U S T R IA L C O M P A N IE S . — I n t., R e n ta ls, & c .— — H al. o f N et E n g s .— “ T o t a l (49 r o a d s) — N e t In c r ea se ( 9 .9 8 % ) . P rev io u s Y ear. -N e t E a rn in g s -----C urrent P revio u s Y ea r. Y ea r. f 5 R oads. $ 5 A t la n t a B lr m & A t l .b - J u n e 1 5 8 ,5 2 6 ................. d e f 2 , 7 ---------J u ly 1 t o J u n e 3 0 _______ 2 ,0 6 9 ,8 1 0 ------------3 .)7 ,0 ^ 7 1 ,2 7 1 B e lle f o n t e C e n t r a l. b -----J u l y 4 ,1 8 9 4 .9 £ £ 4 ,2 3 3 J a n 1 t o J u l y 3 1 ----------3 3 ,4 4 1 3 3 ,4 9 4 2 ,3 0 3 , 7 5 6 ,1 6 1 B o s t o n & M ain e b _____ J u n e 3 ,4 4 8 ,8 7 3 3 ,0 4 5 ,6 0 2 8 5 8 ,7 0 0 J u l y 1 t o J u n e 3 0 _______3 9 ,5 2 8 ,6 9 8 3 8 ,9 9 0 ,7 4 9 1 1 ,2 6 4 ,8 4 3 1 0 ,0 1 8 ,6 0 8 B o sto n R evere B each & L y n n .b — 2 6 ,4 5 6 2 7 ,0 3 6 A p r 1 t o J u n e 3 0 _____ 2 2 7 ,8 7 2 2 2 6 ,5 6 0 3 2 ,9 3 9 .3 1 ,5 4 3 3 8 0 ,7 3 2 3 6 2 ,4 8 0 J a n l t o J u n e 3 0 ______ 1 0 5 ,0 7 5 1 0 2 ,3 5 9 J u l y 1 to J u n e 3 0 ______ 8 4 7 ,0 1 8 8 1 2 ,9 6 6 2 ,0 3 6 3 ,0 6 6 B r id g e to n & S a c o R lv b J u n e 4 ,6 0 0 6 ,2 6 5 1 4 ,2 7 6 1 6 ,9 6 2 J u l y 1 t o J u n e 3 0 ______ 4 8 ,5 1 1 o 2 ,9 9 9 S 5 1 8 .8 7 0 s.3 7 2 ,3 7 8 9 6 4 ,5 6 6 9 5 7 ,1 2 3 C h ic a g o & A lto n . a . ____J u n e J u l y 1 to J u n e 3 0 . . . . - . . 1 2 , 5 3 2 , 3 8 3 1 2 ,1 0 2 ,7 9 0 s 4 ,9 0 0 ,3 2 8 s 4 , 0 8 7 ,6 4 1 z C h lc MUw & S t P a u l . b .J u n e 4 ,9 8 4 ,6 3 5 4 , 3 9 1 ,2 6 5 1 ,6 2 4 ,4 1 1 1 .6 6 5 ,4 0 0 J a n 1 t o J u n e 3 0 _______ 5 9 ,8 9 7 ,4 6 3 u 6 ,9 3 2 ,6 2 0 2 1 , 1 6 6 ,2 2 o 1 9 ,8 8 0 ,1 2 .> C o lo r a d o M id la n d .a .J u n e 1 8 8 ,8 5 0 1 6 4 ,9 6 7 J u ly 1 to J u n e 3 0 _______ 2 ,3 1 2 ,5 9 0 2 ,2 0 0 ,7 6 5 3 8 3 ,3 8 9 4 3 4 ,0 1 4 C o lu m N e w t) & L a n e b . J u n e 1 6 ,7 5 6 1 5 .8 6 4 J u l y 1 to J u n e 3 0 ______ 2 7 9 ,2 3 1 2 8 2 ,5 8 1 o 3 ,8 6 0 o 8 ,7 3 6 s G r e a t N o r t h e r n , b ------ J u n e 4 ,7 5 3 ,7 5 1 3 , 6 5 7 ,1 6 6 2 ,0 6 3 ,0 8 3 2 8 7 ,7 5 4 J a n 1 t o J u n e 3 0 _______ 5 3 ,6 5 8 ,4 6 3 o 4 ,3 9 2 ,4 7 2 2 1 ,1 3 3 ,9 1 6 1 8 ,2 4 8 ,4 7 C fln te r o c e a n ic o f M e x ic o .J u n e 6 0 4 ,0 5 7 5 9 2 ,9 5 5 2 3 3 ,2 2 5 1 8 4 ,3 1 3 J u l y 1 to J u n e 3 0 . . ___ 6 ,7 1 8 ,7 2 8 7 , 7 0 1 ,1 0 o 2 ,2 9 8 ,8 7 2 2 ,3 0 5 ,4 4 7 K a n a w h a & M I c h .a ------ J u n e 1 5 5 ,9 1 7 J u ly 1 to J u n e 3 0 ______ 2 , 1 2 7 ,6 3 7 2 ,0 2 2 ,9 3 8 3 1 6 ,0 2 2 2 3 4 ,8 7 0 (/M e x ic a n I n t e r n a t io n a l .J u n e 5 9 7 ,0 4 5 6 8 1 ,5 8 6 2 9 2 ,6 9 6 8 1 2 ,2 8 7 J u l y 1 to J u n e 3 0 ______ 6 ,9 5 3 ,2 8 4 8 ,2 8 1 ,5 6 a 2 ,9 0 u ,8 0 7 2 ,9 a 3 ,3 6 4 ^ M e x ic a n R a i l w a y . . . . . J u n e 6 3 9 ,7 0 0 5 8 1 ,6 0 0 .8 0 5 ,7 0 0 2 1 8 ,9 0 0 J a n 1 t o J u n e 3 0 _______ 3 ,7 2 0 ,9 0 0 3 ,9 4 1 ,9 0 0 1 ,7 1 7 ,0 0 0 l ,u 2 2 ,7 0 0 N a s h v C h a tt & S t L . b - - J u n e 8 9 7 ,2 3 5 7 7 9 ,3 1 3 2 2 2 ,7 5 6 2 2 0 ,4 4 5 J u ly 1 t o J u n e 3 0 _______ 1 1 ,1 2 2 ,1 1 4 1 0 ,8 0 2 ,0 3 .) 2 ,4 7 8 ,3 2 6 2 ,4 6 4 ,8 9 8 ^ N a t io n a l R y s o f M e x ._ J u n e 4 ,3 3 1 ,4 4 1 3 ,8 7 7 ,8 6 7 1 ,8 6 6 ,1 0 5 1 .3 6 5 ,0 4 3 F e b 1 to J u n e 3 0 _______ 2 1 ,8 5 1 ,8 6 7 2 0 ,5 3 6 ,1 4 0 9 ,6 1 3 ,0 1 .) 7 ,3 2 2 ,9 5 8 N o r t h e r n P a c i l l c . b ____ J u n e 6 ,1 4 7 ,6 9 7 4 , 2 4 0 ,6 9 8 2 ,4 9 7 ,8 9 0 4 1 2 ,4 7 2 J u ly 1 to J u n e 3 0 _______ 6 8 ,4 6 0 ,7 4 7 6 8 ,2 2 0 ,6 7 7 3 0 ,4 4 0 ,7 4 2 2 8 ,3 7 9 ,9 9 3 R io G ra n d e S o u t h e r n .b - J u n e 4 2 ,9 0 1 £ 1 ,4 4 5 ,? 3 .2 7 8 J u ly 1 to J u n e 3 0 _______ 5 7 6 ,1 5 1 6 0 o ,7 o 3 1 9 7 ,3 6 0 2 3 1 ,2 6 7 R o c k I s l a n d . a _________ J u n e 5 ,4 4 3 ,4 7 1 4 ,1 9 7 ,2 7 9 1 ,7 8 0 ,6 8 0 1 ,3 2 2 ,3 7 0 J u ly 1 to J u n e 3 0 _______ 6 1 ,1 8 4 ,8 8 7 5 8 ,4 8 4 ,1 9 7 1 6 ,4 0 0 ,o 2 7 1 4 ,o 5 8 ,1 2 2 S t L o u is & S a n F r a n a J u n e .3 ,0 9 2 ,5 .3 5 2 ,4 2 3 ,1 9 2 1 .1 4 8 ,9 6 3 7 7 3 ,9 5 0 J u ly 1 to J u n e 3 0 ........ . . 3 8 , 1 9 5 , 7 3 8 3 5 , 8 0 6 ,1 3 2 1 1 ,4 8 7 ,1 2 0 9 ,8 5 0 ,4 3 2 3 8 6 ,7 3 3 C h ic a g o & E 'n 111 a - . J u n c 8 1 8 ,1 2 8 7 6 7 ,7 3 9 3 1 7 ,3 0 6 J u l y 1 t o J u n e 3 0 _______1 0 ,2 6 9 ,6 1 9 1 0 ,7 4 2 ,7 3 1 3 ,0 6 0 ,9 7 1 3 ,0 2 9 ,3 5 2 4 6 ,4 6 9 8 8 ,9 6 6 K v a n sv & T erre H .a .J u n e 1 5 6 ,8 8 1 1 6 2 ,0 4 4 6 6 1 ,8 9 1 7 1 0 ,0 6 8 J u l y 1 to J u n e 3 0 ______ 2 ,0 9 3 ,9 9 7 2 ,2 0 4 ,0 6 9 3 ,2 9 3 ,2 1 9 2 ,5 7 2 ,0 fiL T o ta l a ll l i n e s . a _____ J u n e 9 ,5 1 0 ,8 1 6 7 ,5 5 0 ,2 5 4 . . 1. .9 " J u l y I t o J u n e 3 0 _____ 1 1 1 ,7 4 4 ,2 4 1 1 0 7 2 3 7 ,1 3 0 3 1 .6 1 0 ,5 0 8 2 8 .1 4 7 .9 7 5 Interest Charges and Surplus. A b ln g t o n & R o c k la n d E le c L ig h t & P o w e r C o ___J u n e J a n 1 t o J u n e 3 0 _______ E d ls E le c C o (B r o c k to n ) J u n e J a n 1 t o J u n e 3 0 _______ F a ll R iv e r G a s W o r k s .. J u n e J a n 1 t o J u n e 3 0 . ............ H o u g h t o n C o E le c C o. .J u n e J a n 1 t o J u n e 3 0 .............. L o w e ll E le c tr ic C o r p ._ _ J u n e J a n 1 t o J u n e 3 0 _______ M inneapolis G en E l e c .. J u n e 376 2 ,0 7 7 3 ,3 1 4 1 9 ,3 1 3 2 ,3 4 1 1 4 ,7 9 8 4 ,4 5 5 2 7 ,3 3 8 4 ,1 3 5 2 5 ,2 1 0 2 9 ,5 4 6 1 8 0 ,2 0 1 p r e v io u s Y ea r. C u rren t Y ea r. P revio u s Y ear. $ 5 355 1 ,8 0 7 2 ,8 0 7 1 4 ,8 7 7 2 ,3 2 7 1 4 ,0 9 7 4 ,1 9 7 2 4 ,1 2 7 4 ,5 8 6 2 9 ,0 9 4 3 1 ,5 0 7 1 8 6 ,1 7 7 1 ,0 5 9 8 ,0 5 3 4 ,6 4 4 3 7 ,8 0 9 1 0 ,7 3 7 6 4 ,4 7 8 3 ,5 0 0 3 5 ,7 1 0 5 ,5 4 5 4 3 ,4 6 1 1 5 ,0 1 5 1 2 9 ,5 1 5 1 ,4 3 5 9 ,3 5 9 3 ,8 8 1 3 1 ,4 0 0 1 3 ,3 4 3 5 7 ,1 5 2 2 ,3 4 0 3 2 ,1 3 2 4 ,7 8 3 4 0 ,5 3 0 7 ,4 2 1 8 2 ,2 2 1 c A fte r a llo w in g fo r m is c e lla n e o u s c h a r g e s a n d c r e d it s to I n c o m e . £ A fte r a llo w in g fo r o t h e r I n c o m e r e c e iv e d . STREET RAILWAY AND TRACTION COMPANIES. N a m e of R oad. A m erican R y s C o ___ c A u r E lg in & C h ic R y B in g h a m t o n S t R y . . B ir m R y L t &. P o w e r B r o c k to n & P ly S t R y C a p e B r e t o n E le c C o . C c n tr a l P e n n T r a c . . . C h a r ie s t C on R y G & E C h ic a g o R a ilw a y s C o . C le v e P a ln e s v & E a s t D a lla s E le c tr ic C o r p . D e t r o lt U n it e d R y . . . D u lu t h S t r e e t R y . . . E a s t S t L o u is & S u b E l P a s o E l e c t r ic ____ F a ir & C la r k sb T r C o . F t W a y n e & W a b a sh V a lle y T r a c tio n Co G a lv - H o u s E le c C o . . G ra n d R a m d s R y C o . H a v a n a E le c tr ic R y . t lo n o lu lu R a p id T ra n & L a n d C o ................. J u n e ............ H o u g h t o n C o T r a c Co J u n e ______ I llin o is T r a c t io n C o _ . J u n e J a c k s o n v I U e E le c C o . J u n e --------K a n s a s C ity R y & L t A p ril K a n s a s C ity -W e s te r n M ay K n o x v ille R y & L tC o M a r c h ____ L a k e S h o r e E le c R y . J u n e L e x & In ter R y s C o .. J u n e L it tle R k R y & E l Co M a r c h ____ M e m p h is S t r e e t R y . . M a r c h ------M llw E le c R y & L t Co J u n e _____ MUw L t H t & T r a c Co J u n e _____ M o n tr e a l S t r e e t R y . W k A u g N a s h v ille R y & L ig h t J u n e _____ N o r th O h io T r & L t June . L atest Gross E a r n in g s . N a m e of R oad. W eek or M o n th . N o r t h T e x a s E le c C o . N o r t h w e s t e r n K ie v .N o r f & P o r t s m T r Co O k la h o m a C it y R y . P ad u cah Tr & L t C o. P e n s a c o la E le c tr ic Co P o r t l ’d (Or) R y L & P C o P o r t o R ic o R y s C o . R io d e J a n e ir o T ram L ig h t & P o w e r -----S t J o s e p h (M o) R y L t H ea t & P ow er C o .. S a o P a u lo T r L t & P . .S a v a n n a h E le c tr ic Co S e a t t l e E le c tr ic C o . S o u W is c o n s in R y Co T a m p a E le c tr ic C o . T o le d o R y s & L ig h t . T o r o n t o R a i l w a y ____ T w in C it y R a p T r a n _ U n dergroun d E l R y of L ondon— T h r e e t u b e l i n e s ___ M e tr o p o lita n D l s t . U n it e d T r a m w a y s . U n it e d R y s o f S t L . . U n it e d R R s o f S a n Fr V ir g in ia R y & P o w Co W h a tco m Co R y & Lt P rev io u s Y ea r. % June - . -J u ly --------J u n e --------J u n e ............ J u n e --------J u n e --------J u ly _____ A p r i l _____ 1 0 3 ,3 0 8 1 6 0 ,4 3 4 1 6 4 ,5 1 1 3 9 ,6 3 0 1 8 ,1 0 1 2 0 ,1 2 6 4 2 4 ,8 1 5 3 1 ,8 7 0 $ 9 0 ,5 5 0 1 5 4 ,1 6 7 d 1 6 4 ,5 2 7 2 3 ,7 7 1 1 8 ,4 9 6 1 9 ,0 2 0 3 8 1 ,1 7 0 2 8 ,8 0 7 C u rren t Y ea r. P rev io u s Y ea r. S 5 8 6 ,6 5 6 1 ,1 9 1 ,7 8 8 9 2 3 ,5 2 7 1 8 6 ,7 2 6 1 0 8 ,6 4 7 1 1 6 ,7 3 5 2 ,6 9 7 ,5 9 3 1 2 8 ,9 6 7 $ 4 9 0 ,8 7 3 1 ,0 9 4 ,4 4 9 d 8 7 5 ,6 2 0 1 2 1 ,6 0 3 1 1 2 ,7 2 7 9 6 ,7 6 7 2 ,4 8 2 ,9 6 6 1 1 7 ,4 9 3 J u n e ______ 6 2 5 ,7 9 3 5 7 5 ,9 0 3 3 ,6 3 5 ,8 7 9 3 ,3 3 9 ,9 1 5 J u n e _____ J u n e _____ J u n e _____ J u n e _____ J u n e ______ J u n e _____ J u n e _____ W k Aug 7 4 t h w k J u ly 8 0 ,8 8 1 1 8 4 ,7 7 8 5 2 ,1 3 4 5 2 2 ,4 7 0 1 5 ,1 7 7 4 6 ,6 3 9 2 1 6 ,1 5 6 7 5 ,2 0 3 2 0 2 ,2 3 7 7 2 ,3 4 4 1 8 0 ,6 0 6 5 0 ,0 0 6 3 5 8 ,2 0 7 1 4 ,0 7 8 4 5 ,0 7 0 2 0 1 ,7 6 6 7 4 ,4 3 1 1 8 1 ,6 6 0 4 5 8 ,6 0 5 1 ,1 8 8 ,1 7 0 2 9 2 ,5 5 2 2 ,6 0 4 ,7 7 4 7 7 ,4 7 9 2 9 3 ,5 0 5 1 ,3 0 1 ,4 8 8 2 ,1 7 3 ,5 2 5 3 ,8 8 3 ,7 3 4 4 1 3 ,0 5 7 1 ,1 4 2 ,4 0 8 2 8 2 ,3 9 4 2 ,1 6 7 ,9 6 2 7 3 ,4 8 2 2 7 1 ,9 5 8 1 ,2 3 0 ,3 7 3 2 ,0 0 1 ,3 3 0 3 ,5 8 1 ,8 4 0 W k J u ly 31 W k J u ly 31 W k J u ly 31 J u n e _____ J u n e _____ J u n e _____ J u n e ______ £ 1 1 ,9 7 5 £ 9 ,7 5 3 £ 6 ,3 9 3 9 6 4 ,0 2 4 5 9 7 ,4 8 4 1 7 9 ,6 2 5 3 0 ,6 0 5 £ 1 0 ,7 3 5 £ 8 ,8 4 1 £ 8 ,3 8 2 9 1 5 ,3 3 9 5 5 1 ,1 9 3 1 7 4 ,8 5 8 2 6 ,1 2 8 £ 3 8 8 ,5 1 0 £ 2 9 9 ,6 6 1 £ 1 7 8 ,5 4 1 5 ,3 9 1 ,5 6 9 3 ,5 6 8 ,9 0 4 1 ,0 1 4 ,1 9 5 1 8 9 ,0 2 9 £ 3 5 0 ,4 0 0 £ 2 7 0 ,3 9 8 £ 1 9 6 ,7 9 9 5 ,1 6 3 ,5 5 5 3 ,3 4 1 ,4 5 3 9 5 6 ,3 9 6 1 7 3 ,2 4 9 c T h e s e fig u r e s a r e fo r c o n s o lid a t e d c o m p a n y , t h e N o r fo lk C o u n ty F e r r ie s . d I n c lu d e s e a r n in g s o f Street Railway Net Earnings.— T h e fo llo w in g ta b le g iv e s th e r e tu r n s o f S T R E E T r a ilw a y g r o ss a n d n e t ea rn in g s r e p o r te d th is w e e k . A f u ll d e ta ile d s t a t e m e n t , in c lu d in g all r o a d s fro m w h ic h m o n th ly r e tu r n s ca n b e o b ta in e d , is g iv e n o n c e a m o n tli in th e se c o lu m n s , a n d th e la t e s t s t a t e m e n t of t h i s k in d w ill b e fo u n d in th e issu e o f J u ly 24 1 9 0 9 . T h e n e x t w ill a p p e a r in th e issu e o f A u g . 2 8 1 9 0 9 . ------- Gross E a r n in g s ------- ---------- N e t E a r n in g s ------- C u rre n t Y ea r. R o a d s. $ C a p e B r e t o n E le c tr ic C o .J u n e 1 8 ,5 7 0 J a n 1 t o J u n e 3 0 _______ 1 0 4 ,5 1 1 D a lla s E le c tr ic C o r p ___J u n e 1 0 3 ,5 9 3 J a n 1 t o J u n e 3 0 _____ . 6 2 2 ,4 4 4 4 7 ,0 7 5 E l P a s o E le c tr ic C o ____J u n e 2 8 3 ,5 6 5 J a n 1 t o J u n e 3 0 _______ 1 0 5 ,8 0 3 G a lv - H o u s E le c tr ic C o .J u n e 5 7 2 ,7 2 6 J a n 1 t o J u n e 3 0 _______ 3 4 ,6 8 9 H o n o lu lu R T & L C o b .J u n e J a n 1 t o J u n e 3 0 . ------1 9 7 ,6 8 4 H o r n e lls v ille E le c tr ic C o— Apr 1 to J u n e 30 . . 5 ,0 1 2 H o u g h t o n C o T r a c C o . _,June 2 7 ,5 3 8 J a n 1 t o J u n e 3 0 _____ 1 5 0 ,1 1 6 J a c k s o n v ille E le c C o ___J u n e 3 8 ,3 9 1 J a n 1 t o J u n e 3 0 ............ . 2 3 4 ,1 3 0 K a n C i t y - W e s t ’n R y . a . M a y 3 3 ,2 4 7 J u ly 1 t o M a y 3 1 ............. 3 1 8 ,1 4 2 K in g s t o n C o n so l R y . b — A p r 1 t o J u n e 3 0 _____ 3 8 ,8 4 7 N o r t h T e x a s E le c C o ___J u n e 1 0 3 ,3 0 8 Ja n 1 to J u n e 30 .. 5 8 6 ,6 5 6 O n e id a R a i l w a y . b — A p r 1 t o J u n e 3 0 ___ 8 8 ,9 8 0 P a d u ca h T r & L t C o ...J u n e 1 8 ,1 0 1 J a n l to J u n e 3 0 . . . . 1 0 8 ,6 4 7 P e n s a c o la E le c tr ic Co J u n e 2 0 ,1 2 6 J a n 1 t o J u n e 30 1 1 6 ,7 3 5 P o r t l ’d (Or) R y L t& P b J u ly 4 2 4 ,8 1 5 J a n 1 t o J u ly 3 1 ___. . 2 ,6 9 7 ,5 9 3 S a v a n n a h E le c tr ic C o . .J u n e 5 2 ,1 3 4 J a n 1 t o J u n e 3 0 _______ 2 9 2 ,5 5 2 S e a t t l e E le c tr ic C o _____ J u n e 5 2 2 ,4 7 0 J a n 1 to J u n e 3 0 . . . . . 2 ,6 0 4 ,7 7 4 S c h e n e c t a d y R a ilw a y _ b — A p r 1 to J u n e 3 0 . .. 2 4 0 ,9 2 5 J a n 1 t o J u n e 30 4 3 1 ,5 7 9 J u l y 1 t o J u n e 3 0 _______ 8 9 8 ,8 7 0 T a m p a E le c tr ic C o . . . J u n e 4 6 .6 3 9 J a n 1 t o J u n e 3 0 _______ 2 9 3 ,5 0 5 U t ic a & M o h a w k V a l l e y . b — A p r 1 t o J u n e 3 0 ___. . . 3 0 8 ,8 3 9 J an 1 to J u n e 30 5 6 9 ,7 6 5 J u ly 1 to J u n e 30 1 ,1 4 9 ,8 8 9 W h a t c o m C o R y & L t . .J u n e 3 0 ,6 0 5 J a n 1 to J u n e 3 0 . .. 1 8 9 ,0 2 9 P r e v io u s Y ear. C u rre n t Y ear. P rev io u s Y ea r. $ 1 9 ,9 5 9 1 1 5 ,5 4 6 8 8 ,5 0 0 5 3 2 ,3 7 5 4 1 ,9 9 5 2 6 0 ,4 7 1 9 2 ,4 4 2 5 0 5 ,7 8 2 3 1 ,6 3 7 1 8 2 ,8 7 6 6 ,3 6 1 3 4 ,6 2 9 3 5 ,8 8 3 2 2 5 ,2 7 0 1 9 ,3 7 5 1 1 0 ,7 2 9 4 7 ,9 9 7 2 2 9 ,4 7 9 1 7 ,3 1 9 9 3 ,8 5 0 $ 8 ,3 9 5 4 5 ,0 6 4 1 6 ,8 4 6 1 5 4 ,6 6 1 1 1 ,5 9 9 7 5 ,0 2 8 3 7 ,2 0 7 1 9 8 ,8 9 9 1 3 ,6 6 4 7 7 ,5 8 3 5 ,4 1 7 2 3 ,3 4 3 1 2 1 ,3 1 3 3 5 ,8 8 2 2 1 0 ,6 3 3 3 0 ,1 4 8 2 9 9 ,9 6 7 1 ,9 3 9 1 4 ,3 5 5 6 2 ,7 3 4 1 6 ,9 4 4 9 6 ,6 8 3 1 3 ,4 4 8 1 1 8 ,0 9 0 901 1 0 ,5 6 1 4 6 ,6 5 5 1 2 ,0 0 5 7 7 ,7 8 7 1 2 ,2 5 3 1 1 1 ,4 0 0 3 8 ,7 4 5 9 0 ,5 5 0 4 9 0 ,8 7 3 1 7 ,1 5 4 4 6 ,2 8 0 2 5 2 ,1 5 7 1 6 ,5 9 3 2 4 ,4 9 9 1 8 8 ,5 1 3 $ 7 3 ,0 2 6 1 8 ,4 9 6 1 1 2 ,7 2 7 1 9 ,0 2 0 9 6 ,7 6 7 3 8 4 ,1 7 0 2 ,4 8 2 ,9 6 6 5 0 ,0 0 6 2 8 2 ,3 9 4 3 5 8 ,2 0 7 2 ,1 6 7 ,9 6 2 3 7 ,5 2 5 7 ,4 8 8 4 2 ,3 0 2 8 ,8 3 4 4 9 ,8 0 9 2 2 0 ,6 7 4 1 ,4 3 0 ,0 2 7 1 8 ,7 4 8 1 0 6 ,0 3 5 2 0 9 ,4 5 6 1 ,0 1 3 ,0 4 8 2 2 0 ,1 10 4 0 7 ,7 5 7 9 7 4 ,5 0 1 4 5 ,0 7 0 2 7 1 ,9 5 8 9 6 ,1 9 0 1 4 0 ,9 3 9 2 9 6 ,2 7 2 1 8 ,1 6 5 1 2 1 ,7 3 0 6 1 ,5 5 1 9 5 ,8 1 6 2 5 1 ,1 9 5 1 3 ,2 3 1 8 7 ,1 9 2 2 7 2 ,9 7 9 5 0 9 ,2 1 8 1 ,1 0 9 ,2 2 9 2 6 ,1 2 8 1 7 3 ,2 4 9 1 1 7 ,5 2 5 2 1 1 ,4 4 4 4 4 2 ,8 3 7 1 2 ,5 6 6 7 7 ,8 3 7 1 1 7 ,3 7 7 2 0 1 ,3 1 6 4 2 3 ,1 0 4 9 ,2 6 7 7 4 ,4 2 9 3 0 ,8 2 8 6 ,2 7 3 4 3 ,5 4 7 5 ,0 0 0 2 1 ,4 4 2 1 9 2 ,3 5 6 1 ,2 3 3 ,2 2 7 1 9 ,5 0 8 8 3 ,0 8 3 1 5 5 ,3 3 2 8 6 1 ,0 6 8 a N e t e a r n in g s h e r e g i v e n a r e a f te r d e d u c t in g t a x e s , b N e t e a r n in g s h e r e g i v e n a r e b e fo r e d e d u c t in g t a x e s . Interest Charges and Surplus. _ , R o a d s. —I n t., R en ta ls, A c . — C urrent P rev io u s Y ea r. Y ear. $ C ap e B r e to n E le c tr ic C o . J u n e J a n 1 t o J u n e 3 0 ----------D a lla s E le c tr ic C o r p — J u n e J a n 1 t o J u n e 3 0 ----------E l P a s o E le c tr ic C o ------ J u n e J a n 1 t o J u n e 3 0 ----------G a lv - H o u s E le c tr ic C o .J u n e J a n I t o J u n e 3 0 _______ H o n o lu lu I I T 4 L C o - . J u n e J a n 1 t o J u n e 3 0 _______ H o r n e lls v ille E le c tr ic C o— ■Apr 1 t o J u n e 3 0 _______ H o u g h to n Co T rac C o .-J u n e J a n 1 t o J u n e 3 0 _______ J a c k s o n v ille E le c C o . . . J u n e J a n 1 t o J u n e 3 0 _______ K a n C it y -W e s t e r n R y _ _ M a y J u ly 1 t o M a y 3 1 _______ K in g s t o n C o n s o lid a te d R y — A p r 1 t o J u n e 3 0 _______ N o r t h T e x a s E le c C o . . - J u n e J a n 1 t o J u n e 3 0 _______ O n e id a R a ilw a y — A p r 1 t o J u n e 3 0 _______ — B a l. o f N e t E ’n g s .— C u rre n t Y ear. P rev io u s Y ear. 5 ,0 2 9 3 0 ,9 4 2 2 8 ,8 3 3 1 7 3 ,0 3 4 7 ,9 4 3 4 7 ,4 6 9 2 1 ,4 1 9 1-29,269 6 ,1 4 3 3 6 ,8 5 7 $ 4 ,7 9 5 3 0 ,2 2 4 2 9 ,4 3 1 1 7 7 ,9 0 7 7 ,4 1 5 4 3 ,0 9 4 2 1 ,0 1 8 1 2 2 ,7 2 4 6 ,1 2 3 3 6 ,9 6 6 $ 1 ,3 3 2 3 ,6 8 7 7 ,0 5 0 5 2 ,2 3 6 1 1 ,4 3 2 6 3 ,2 6 0 2 6 ,5 7 8 1 0 0 ,2 1 0 £ 1 1 ,8 1 6 £ 6 0 ,7 1 6 $ 3 ,6 0 0 1 4 ,8 4 0 d c f . 1 2 ,5 8 5 d c f .2 3 ,2 4 6 4 ,1 8 4 3 1 ,9 3 4 1 8 ,1 8 9 7 6 ,1 7 5 £ 8 ,3 7 1 £ 4 4 ,5 7 5 700 6 ,2 4 1 3 5 ,1 1 4 9 ,2 8 8 5 6 ,2 5 3 6 ,8 7 5 7 5 ,5 6 7 700 4 ,6 2 3 2 8 ,4 0 9 9 ,2 7 4 5 6 ,0 2 9 6 ,8 5 8 7 4 ,4 6 3 d c f . 1 ,2 3 9 8 ,1 1 4 2 7 ,6 2 0 7 ,6 5 6 4 0 ,4 3 0 6 ,6 7 7 4 3 ,3 1 8 d e f . 1 ,6 0 1 5 ,9 3 8 1 8 ,2 4 6 2 ,7 3 1 2 1 ,7 5 8 5 ,4 2 6 3 7 ,3 3 1 1 3 ,8 4 1 1 7 ,1 8 9 1 0 3 ,1 1 5 1 1 ,0 5 6 1 9 ,1 9 1 9 3 ,5 7 3 3 ,3 1 3 2 9 ,0 9 1 1 4 9 ,0 4 2 5 ,5 3 7 5 ,3 0 8 9 4 ,9 4 0 7 ,9 3 1 7 ,4 0 2 — I n t., R e n ta ls, A c .— • — B a l. o f N e t E 'n g s .— J a n . 1 to latest date. C urrent Y ear. £ 2 9 ,8 0 8 £ 2 3 ,4 8 1 C u rren t Y ea r. R o a d s. P a d u c a h T r a c & L t C o .J u n e J a n 1 to Ju n e 3 0 . . . P e n s a c o la E le c tr ic C o . . J u n e J a n 1 to J u n e 3 0 . ______ P o r t l ’d (Or) R y L t & P . J u l y J a n l t o J u l y 3 1 . ____ S a v a n n a h E le c tr ic C o . - J u n e J a n 1 t o J u n e 3 0 ___ . S e a t t l e E le c tr ic C o . . . . J u n e J a n 1 t o J u n e 3 0 _____ S c h e n e c ta d y R a ilw a y — A p r 1 t o J u n e 3 0 _______ J a n 1 t o J u n e 3 0 _______ J u l y 1 t o J u n e 3 0 _______ T a m p a E l e c tr ic C o . .J u n e J a n 1 t o J u n e 3 0 ___ U tic a & M oh aw k V a lle y — A pr l to J u n e 30 ____ J a n 1 t o J u n e 3 0 _______ J u l y 1 t o J u n e 3 0 _____ W h a tc o m Co R y & L t .-J u n e J a n 1 t o J u n e 3 0 ___ . P r e v io u s Y ear. C u rre n t Y ear. P re v io u s Y ear. $ 6 ,6 3 2 4 1 ,8 3 3 4 ,2 6 3 2 6 ,0 3 6 1 2 3 ,3 9 1 8 5 7 ,4 2 9 1 7 ,3 4 3 1 0 4 ,5 9 4 1 0 5 ,0 9 3 6 0 8 ,3 6 8 $ 6 ,8 4 8 4 1 ,9 9 9 4 ,3 1 5 2 5 ,2 4 0 1 1 3 ,8 4 1 8 1 0 ,0 3 7 1 7 ,3 2 3 1 0 1 ,8 3 2 9 3 ,6 9 5 5 1 8 ,0 1 4 3 4 ,5 6 7 6 8 ,7 4 0 1 3 0 ,8 5 6 4 ,7 0 8 2 8 ,0 2 2 3 0 ,8 8 2 6 0 ,1 3 8 1 2 5 ,8 8 8 2 ,5 7 1 1 3 ,6 6 5 £ 6 4 ,5 4 2 £ 8 3 ,3 5 7 £ 1 8 1 ,0 6 4 1 3 ,4 5 7 9 3 ,7 0 8 £ 3 1 ,5 8 5 £ 4 3 ,1 6 1 £ 1 4 3 ,1 6 7 1 0 ,6 6 0 7 3 ,5 2 7 7 4 ,2 8 2 1 4 6 ,8 6 2 2 7 9 ,6 6 8 8 ,0 8 5 5 0 ,0 9 6 5 2 ,2 8 3 1 0 4 ,2 0 6 2 3 5 ,0 8 0 7 ,9 7 0 4 7 ,8 6 9 £ 4 3 ,8 4 0 £ 6 5 ,7 9 3 £ 1 6 9 ,3 0 2 4 ,4 8 1 2 7 ,7 4 1 £ 6 8 ,4 6 3 £ 1 0 4 ,6 2 1 £ 2 2 9 ,8 2 3 1 ,2 9 7 2 6 ,5 6 0 $ $ 856 d e f .5 7 5 469 1 ,5 4 8 4 ,5 7 1 685 2 3 ,7 7 3 d e f .3 ,7 9 8 1 0 6 ,2 8 3 7 8 ,5 1 5 5 7 2 ,5 9 8 4 2 3 ,1 9 0 1 ,4 0 5 2 ,1 8 5 1 ,4 4 1 d e f .1 8 , 7 4 9 1 0 4 ,3 6 3 6 1 ,6 3 7 4 0 4 ,6 8 0 3 4 3 ,0 5 4 x A f t e r a llo w in g fo r o t h e r In c o m e r e c e iv e d . A N N U AL R EPOR TS. Annual Reports.— A n in d e x to a n n u a l r ep o rts o f s te a m r a ilr o a d s, s t r e e t r a ilw a y s a n d m isc e lla n e o u s c o m p a n ie s w h ic h h a v e b e e n p u b lish e d d u r in g th e p r e c e d in g m o n th w ill b e g iv e n o n t h e la s t S a t u r d a y o f e a c h m o n t h . T h is in d e x w ill not in c lu d e r e p o r ts in th e is s u e o f th e “ C h ro n ic le ” in w h ic h it is p u b lis h e d . T h e la t e s t in d e x w ill b e fo u n d in t h e issu e o f J u ly 3 1 . T h e n e x t w ill a p p e a r in t h a t o f A u g . 2 8 . Canadian Pacific Railway. (Statement for Year ending June 3 0 1 9 0 9 .) T h e r e s u lts for th e fiscal y e a r w e re a s fo llo w s: 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . 1 9 0 C -0 7 . 1 9 0 5 -0 6 . G ro ss e a r n i n g s ...................$ 7 6 ,3 1 3 ,3 2 1 $ 7 1 ,3 8 4 ,1 7 4 $ 7 2 ,2 1 7 ,5 2 8 $ 6 1 , 6 6 9 ,7 5 8 O p e r a tin g e x p e n s e s ____ 5 3 ,3 5 7 ,7 4 8 4 9 ,5 9 1 ,8 0 8 4 6 ,9 1 4 ,2 1 9 3 8 , 6 9 6 ,4 4 6 N e t e a r n in g s _________ $ 2 2 ,9 5 5 ,5 7 3 $ 2 1 ,7 9 2 ,3 6 6 $ 2 5 ,3 0 3 ,3 0 9 $ 2 2 ,9 7 3 ,3 1 2 In t. rec. an d S S . e a r n s .. 2 ,3 0 6 ,4 8 8 2 ,6 5 4 ,6 3 3 2 ,3 6 4 ,4 8 0 1 ,9 6 9 ,4 4 7 T o t a l n e t i n c o m e ____ $ 2 5 ,2 6 2 ,0 6 1 $ 2 4 ,4 4 6 ,9 9 9 $ 2 7 ,6 6 7 ,7 8 9 $ 2 4 ,9 4 2 ,7 5 9 F ix e d c h a r g e s ____________ $ 9 ,4 2 7 ,0 3 3 $ 8 ,7 7 0 ,0 7 7 $ 8 ,5 1 1 ,7 5 6 $ 8 ,3 5 0 ,5 4 5 8 8 0 ,0 0 0 8 8 0 ,0 0 0 7 8 0 ,0 0 0 5 8 0 ,0 0 0 F o r S S . a n d p e n s io n fu n d D l v . o n c o m m o n (6 % ) *_ 9 , 0 0 0 ,0 0 0 7 , 3 0 0 ,8 0 0 7 , 3 0 0 ,8 0 0 6 ,0 8 4 ,0 0 0 D i v . o n p r e fe r r e d ( 4 % ) . 2 ,1 0 7 ,8 6 7 1 ,9 1 6 ,4 0 7 1 ,7 3 6 ,2 2 8 1 ,6 6 0 ,1 3 3 B a la n c e , s u r p lu s _____ $ 3 ,8 4 7 ,1 6 1 $ 5 ,5 7 9 ,7 1 5 $ 9 ,3 3 9 ,0 0 5 $ 8 ,2 6 8 ,0 8 2 * A lso 1% e x t r a p a id In 1 9 0 6 -0 7 , 1 9 0 7 -0 8 a n d 1 9 0 8 -0 9 fr o m I n te r e s t o n la n d s a le s , v i z .: A p ril 1 a n d H % O c t. 1 . — V . 8 8 , p . 1 6 2 . Buffalo Rochester & Pittsburgh Railway. {Report for Fiscal Year ending June 30 1 9 0 9 .) T h e r em a rk s o f P r e s id e n t A d ria n Is e lin J r. a r e g iv e n in fu ll o n su b s e q u e n t p a g e s . T h e fig u res o f e a r n in g s, e x p e n s e s , b a la n c e s h e e t , & c ., h a v e b e e n c o m p ile d fo r fo u r y e a r s a s fo llo w s: O P E R A T IO N S A N D F IS C A L R E S U L T S . * 1 9 0 7 -0 8 . * 1 9 0 8 -0 9 . R o a d o p e r a te d J u n e 3 0 - 568 568 E q u ip m e n t — L o c o m o t i v e s _________ 299 300 P a s s e n g e r ca rs . 101 99 F r e ig h t c a r s ________ 1 5 ,3 1 1 1 5 ,4 5 9 S e r v ic e c a r s ___ _____ 114 112 O perations — P a s s e n g e r s c a r r ie d ____ 1 ,5 2 0 ,1 1 9 1 ,6 1 9 ,6 3 5 P a s s e n g e r s c a r ’d 1 m il e . 4 4 ,9 1 4 ,9 9 7 5 0 ,6 8 0 ,2 5 3 R a t e p e r p a s s , p e r m il e . 1 .9 7 6 c ts . 1 .8 5 4 c ts . T o n s o f b it. c o a l ca r rie d 5 ,1 8 6 ,0 4 3 5 ,8 4 9 ,2 4 0 T o n s o f c o k e c a r r ie d ____ 3 0 1 ,3 8 6 4 7 6 ,8 8 6 T o t . t o n s (a ll f r ’t) c a r ’d 8 ,0 0 8 ,9 9 0 8 ,9 3 3 ,5 9 9 A v e r . d ls . h a u l 1 t o n m . 1 5 5 .4 1 4 5 .1 F r e ig h t (to n s) 1 m il e ___ 1 2 4 4 9 4 6 0 9 7 1 2 9 6 6 1 8 9 5 7 R a t e p e r t o n p e r m il e ___ 0 .4 8 9 Cts. 0 .4 8 2 Cts. ,1 9 0 6 - 0 7 . 569 1 9 0 5 -0 6 . 568 290 102 1 3 ,6 1 5 380 267 102 1 2 ,8 0 4 378 1 ,5 9 7 ,6 5 1 5 2 ,7 1 3 ,8 2 7 1 .0 3 1 c ts . 6 ,1 8 4 ,1 5 9 6 2 0 ,1 5 4 9 ,5 4 8 .7 9 6 1 4 5 .7 1391602709 0 .4 9 8 c t s . 1 ,4 4 0 ,9 2 8 5 0 ,5 3 1 ,9 9 0 2 .0 3 9 c t s . 5 ,2 0 4 ,4 3 7 7 0 6 ,8 6 7 8 , 3 7 7 ,3 7 5 1 4 8 .2 1241878000 0 .5 0 8 c t s . * C o m p ile d in a c c o r d a n c e w it h t h e I n t e r - S t a t e C o m m e r c e C o m m is s io n ’s c la s s illc a tt o n . T h e fig u r e s fo r 1 9 0 6 -0 7 a n d 1 9 0 5 -0 6 a r e o n t h e o ld b a s is . IN C O M E A C C O U N T FO R Y E A R E N D IN G J U N E 3 0 ( IN T E R -S T A T E C O M M E R C E C O M M I S S I O N ’S C L A S S I F I C A T I O N ) . I n c . ( + ) or O p erating revenues — 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . D ec. (— ) . P a s s e n g e r _________________________ F r e ig h t __________________________ M a ll, e x p r e s s a n d m is c e lla n e o u s . O th e r o p e r a t i o n s _________________ $ 8 8 7 ,6 2 5 6 ,0 0 1 ,5 7 2 1 8 2 ,5 9 6 1 0 0 ,1 0 4 $ 9 3 9 ,8 3 4 6 ,3 3 8 ,9 3 4 1 2 7 ,0 5 5 7 8 ,2 0 5 — $ 5 2 ,2 0 9 — 3 3 7 ,3 6 2 + 5 5 ,5 4 1 + 2 1 ,8 9 9 T o t a l o p e r a tin g r e v e n u e s _____________$ 7 ,1 7 1 ,8 9 7 O perating e x p en se s — M a in te n a n c e o f w a y & s t r u c t u r e s ____ $ 7 6 9 ,0 3 7 M a in te n a n c e o f e q u i p m e n t ___________ 1 ,5 3 8 ,1 9 1 T r a f fic e x p e n s e s _______________________ 1 0 1 ,2 5 9 T r a n s p o r t a tio n e x p e n s e s _____________ 2 ,0 9 5 ,2 1 2 G e n e r a l e x p e n s e s _____________________ 1 6 1 ,4 7 2 $ 7 ,4 8 4 ,0 2 8 — $ 3 1 2 ,1 3 1 $ 9 5 1 ,2 0 1 1 ,7 2 1 ,8 4 5 9 5 ,7 6 9 2 ,4 2 4 ,5 2 9 1 5 7 ,3 1 6 — 1 8 2 ,1 6 3 — 1 8 3 ,6 5 4 + 5 ,4 9 0 — 3 2 9 ,3 1 7 + 4 ,1 5 6 T o t a l o p e r a tin g e x p e n s e s .......................... $ 4 ,6 6 5 ,1 7 1 N e t o p e r a tin g r e v e n u e ________________ $ 2 ,5 0 6 ,7 2 6 N e t r e v e n u e o u t s id e o p e r a t i o n s _______ d e f.6 3 4 $ 5 ,3 5 0 ,6 6 0 $ 2 ,1 3 3 ,3 6 8 $ 3 ,2 2 9 — $ 6 8 5 ,4 8 9 + $ 3 7 3 ,3 5 8 — 3 ,8 6 3 T o t a l ____ _____________ _______ _____$ 2 ,5 0 6 ,0 9 2 $ 2 ,1 3 6 ,5 9 7 + $ 3 6 9 ,4 9 5 T a x e s a c c r u e d _________________________ 1 3 3 ,0 0 0 1 7 5 ,2 4 8 — 4 2 ,2 4 8 O p e r a tin g I n c o m e .................................... $ 2 ,3 7 3 ,0 9 2 R e n t s — h ire o f e q u i p m e n t ____________ $ 2 3 9 ,5 3 3 R e n t s — J o in t f a c i l it ie s ________________ 9 1 ,2 2 2 D iv id e n d s o n s to c k s o w n e d ___________ 1 9 ,9 7 6 I n t e r e s t o n s e c u r it ie s , lo a n s & a c c ’t s . 7 2 ,1 7 4 M is c e ll a n e o u s ---------------1 3 ,9 0 8 $ 1 ,9 6 1 ,3 4 9 $ 6 0 9 ,4 5 6 7 7 ,4 1 7 1 2 6 ,6 2 0 1 2 ,6 0 9 T o t a l n e t I n c o m e ........................................ $ 2 ,8 0 9 ,9 0 5 $ 2 ,7 8 7 ,4 5 1 D ed u ct — R e n t s a c c r u e d fo r le a s e o f o th e r r o a d s $ 3 6 4 ,5 0 0 $ 3 6 4 ,5 0 0 R e n t s — J o in t f a c i l it ie s _____ __________ 2 5 9 ,7 1 4 2 6 7 ,0 8 6 R e n t s — m is c e lla n e o u s ________________ 1 6 ,8 5 3 1 6 ,0 0 9 I n t e r e s t a c c r u e d o n fu n d e d d e b t _____ 1 ,1 2 6 ,4 1 5 1 ,1 0 3 ,6 6 4 ‘ ‘ ‘ 1 2 ,4 8 4 A p p r o p r ia tio n s fo r p e n s io n f u n d ____ 1 3 ,2 0 3 D iv id e n d s o n p r e fe r r e d s to c k ( 6 % ) . . 3 6 0 ,0 0 0 3 6 0 ,0 0 0 D iv id e n d s o n c o m m o n s t o c k ________ (4 % ) 4 2 0 ,0 0 0 ( 5 % ) 5 2 5 ,0 0 0 T o t a l d e d u c t i o n s . _____ _____________ $ 2 ,5 5 9 ,9 6 6 B a la n c e tr a n sfe r r e d t o p r o fit & l o s s . . $ 2 4 9 ,9 3 9 $ 2 ,6 4 9 ,4 6 2 $ 1 3 7 ,9 8 9 + $ 4 1 1 ,7 4 3 — $ 3 6 9 ,9 2 3 + 1 3 ,8 0 5 + 1 9 ,9 7 6 — 5 4 ,4 4 6 + 1 ,2 9 9 + $ 2 2 ,4 5 4 — 7 ,3 7 2 + 844 + 2 2 ,7 5 1 — 719 — 1 0 5 ,0 0 0 — $ 8 9 ,4 9 6 + $ 1 1 1 ,9 5 0 New York Ontario & Western Railway. B A L A N C E S H E E T J U N E 30. 1909. 1908. $ 1 3 8 ,0 8 2 ,3 4 7 / 3 7 ,5 2 1 ,7 1 7 1 C o s t o f r o a d & c q u l p ’t (a) J C o s t o f p r o p r ie t a r y r ’d s jf 1 F u n d e d d e b t h e ld in 1 ,8 6 8 ,0 0 0 1 ,8 6 8 ,0 0 0 t r u s t , & c _____________ 1 8 9 ,0 0 7 1 8 9 ,0 0 7 I n v e s t m e n t s -------■----------2 ,0 4 5 ,4 6 4 1 ,4 9 9 ,1 2 8 C a sh ____________________ 6 9 0 ,7 8 5 1 ,1 6 4 ,8 7 3 M a te r ia ls o n h a n d ----------8 1 ,3 4 9 A g e n ts a n d c o n d u c to r s. 6 5 ,1 4 4 8 0 3 ,9 2 8 7 0 8 ,5 1 1 I n d iv id u a ls , c o s ., & c . . 3 2 8 ,8 6 8 4 0 0 ,9 3 4 S in k in g f u n d s — u n p a id . A d v a n c e s , lire in s u r . f d ., 3 4 1 ,2 5 8 p e n s io n fu n d & m is c . 4 8 5 ,9 6 2 1 9 ,8 5 7 91 A c c r u e d i n t e r e s t ------------3 4 ,9 2 5 S u s p e n s e a c c o u n t s --------1 3 ,6 2 9 E q u ip m e n t a g r e e m e n t s p a id a n d u n i n v e s t e d . _ S p e c ia l d e p o s i t s ________ 3 9 8 ,0 9 7 A. sscts __ 1907. $ 3 3 ,4 0 1 ,4 6 8 1 ,1 7 0 ,8 9 6 1906. $ 3 1 ,1 9 7 931 1 ,1 7 0 ,9 3 6 1 ,8 6 8 ,0 0 0 1 6 0 ,5 4 4 3 ,4 1 9 ,5 1 3 9 3 3 ,9 1 7 1 2 3 ,5 9 3 1 ,0 1 6 ,9 8 0 1 ,8 6 8 ,0 0 0 1 ,0 2 8 ,8 5 5 4 3 2 ,7 3 3 8 6 3 ,7 4 8 2 9 7 ,5 9 8 3 3 5 ,4 1 8 3 0 3 ,0 3 1 2 9 1 ,4 5 6 __ 4 2 ,3 9 7 ,9 4 2 3 7 ,4 8 6 ,6 7 5 S t o c k , c o m m o n _________ 1 0 ,5 0 0 ,0 0 0 6 ,0 0 0 ,0 0 0 S t o c k , p r e fe r r e d ________ B o n d s ________ __________ 1 6 ,6 0 2 ,0 0 0 7 ,6 9 3 ,0 0 0 C ar t r u s t s _______________ 6 0 ,0 0 0 R e a l e sta te m o r tg a g e s. _ 2 3 6 ,8 4 7 I n t e r e s t a c c r u e d , n o t d u e; 5 6 4 ,7 6 3 P a y - r o lls a n d v o u c h e r s . 8 9 ,0 7 1 D u e i n d iv l d ., c o s ., & c ._ S u s p e n s e a c c o u n t s _____ 3 6 0 ,0 0 0 L o a n s p a y a b le b ________ 2 5 ,7 7 7 A c c r u e d t a x e s ___________ C 464,4 7 4 R e s e r v e s ________________ . 3 8 9 ,7 9 2 M i s c e ll a n e o u s ___________. P r o f it a n d l o s s ___________. 2 ,1 7 7 ,3 5 4 1 0 ,5 0 0 ,0 0 0 6 ,0 0 0 ,0 0 0 1 4 ,8 6 7 ,0 0 0 8 ,0 0 6 ,0 0 0 6 0 ,0 0 0 2 3 7 ,3 2 0 5 8 2 ,9 7 0 1 0 7 ,4 4 2 1 8 ,1 3 1 9 3 0 ,0 0 0 3 2 ,6 4 1 2 5 3 ,2 4 2 3 9 1 ,7 7 6 1 ,8 2 6 ,8 3 3 1 0 ,5 0 0 ,0 0 0 6 ,0 0 0 ,0 0 0 1 1 ,8 6 7 ,0 0 0 5 ,1 5 8 ,0 0 0 3 0 4 ,0 0 0 1 6 6 ,5 1 9 6 5 4 ,8 7 6 1 2 9 ,3 4 2 2 3 0 ,6 1 0 2 5 8 ,6 6 0 1 ,5 0 5 ,2 3 7 1 9 6 ,4 1 3 1 8 4 ,7 7 0 2 ,3 2 5 ,7 5 4 4 5 ,1 6 3 ,0 7 8 4 3 ,8 1 3 ,3 5 5 4 2 ,3 9 7 ,9 4 2 3 7 ,4 8 6 ,6 7 5 2 ,5 0 0 ,0 0 0 a C o s t o f J o h n s o n b u r g & B r a d fo r d R R . w a s tr a n sfe r r e d in 1 9 0 7 -0 8 fro m “ c o s t o f p r o p r ie t a r y r o a d s ” t o a c c o u n t c o s t o f r o a d . b L o a n s c o n s is t o f c o n s tr u c t io n a n d I m p r o v e m e n t n o t e s d u e A u g . 1 1 9 0 9 . c I n c lu d e s r e s e r v e fo r r e p la c e m e n t o f p r o p e r ty — e q u ip m e n t , $ 1 7 1 ,3 1 4 ; fire in s u r a n c e fu n d , $ 1 6 3 ,9 2 3 ; p e n s io n fu n d , $ 1 2 9 ,2 3 7 . I n 19 0 8 t h e ite m o f " R e s e r v e s ” in c lu d e d fire I n s u r a n c e f u n d , $ 1 4 0 ,7 3 2 , a n d p e n s io n f u n d , $ 1 1 2 .5 1 0 .— V . 8 8 , v . 5 0 4 . B o s t o n & M a in e R a ilr o a d . (Preliminary Statement for Fiscal Year ending June 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . F r e ig h t r e v e n u e ............................... $ 2 3 ,0 1 4 ,4 3 9 $ 2 2 ,4 8 6 ,0 6 5 P a s s e n g e r r e v e n u e __________________ 1 3 ,4 5 1 ,7 5 2 1 3 ,5 3 7 ,3 8 8 O th e r t r a n s p o r t a t io n r e v e n u e ____ 2 ,4 3 0 ,1 7 2 2 ,3 2 1 ,0 8 3 O th e r o p e r a tin g r e v e n u e __________ 6 3 2 ,3 3 6 6 4 6 ,2 1 3 30 19 0 9 .) In c . or Dec. In c. D ec. In c. D ec. $ 5 2 8 ,3 7 4 8 5 ,6 3 6 1 0 9 ,0 8 8 1 3 ,8 7 7 T o t a l o p e r a tin g r e v e n u e ________ $ 3 9 ,5 2 8 ,6 9 8 $ 3 8 ,9 9 0 ,7 4 9 I n c . O p e r a tin g e x p e n s e s _________________ 2 8 ,2 6 3 ,8 5 5 2 8 ,9 7 2 ,1 4 1 D e c . $ 5 3 7 ,9 5 0 7 0 8 ,2 8 6 $ 1 0 ,0 1 8 ,6 0 8 I n c . $ 1 ,2 4 6 ,2 3 5 6 5 ,7 2 2 I n c . 1 7 ,6 9 4 T o t a l n e t r e v e n u e ________________ $ 1 1 ,3 4 8 ,2 5 7 $ 1 0 ,0 8 4 ,3 3 0 I n c . $ 1 ,2 6 3 ,9 2 7 T a x e s a c c r u e d ______________________ 1 ,7 8 9 ,9 3 3 1 ,7 1 2 ,2 7 3 I n c . 7 7 ,6 6 0 O p e r a tin g in c o m e _________________ $ 9 ,5 5 8 ,3 2 4 6 1 8 ,9 0 0 O th e r I n c o m e _______________________ $ 8 ,3 7 2 ,0 5 7 I n c . $ 1 ,1 8 6 ,2 6 7 6 9 2 ,0 7 9 D e c . 7 3 .1 7 8 G ro ss c o r p o r a te I n c o m e _________ $ 1 0 ,1 7 7 ,2 2 5 $ 9 ,0 6 4 ,1 3 5 C h a r g e s . - - . _________________________ $ 7 ,8 3 0 ,7 2 1 $ 8 ,3 9 3 ,1 7 6 1 8 8 ,9 8 8 D iv id e n d o n p r e fe r r e d s t o c k (6 % ) D iv id e n d o n c o m m o n s t o c k ___ (6 % ) 1 ,6 2 8 ,3 7 3 (7 % )1 8 9 1 6 3 3 I n c . $ 1 , 1 1 3 ,0 8 9 D e c . $ 5 6 2 ,4 5 5 v ; -------. - - ------D e c . $ 2 6 3 ,2 6 0 B a la n c e , s u r p lu s o r d e f ic i t ____ s u r .$ 5 2 9 ,1 4 3 d f .$ l ,4 0 9 ,6 6 2 I n c . $ 1 ,9 3 8 ,8 0 4 — V . 89 , p . 34 7 . 161. (Staement for Fiscal Year ending June 3 0 1 9 0 9 .) T h e fo llo w in g is a c o m p a r a tiv e s t a t e m e n t for tw o y e a r s o n th e b a s is p r e sc rib e d b y th e I n t e r - S t a t e C o m m erce C om 1 9 0 7 -0 8 . In c. or Dec. $ 5 ,8 4 1 ,7 6 3 I n c . $ 3 6 ,6 5 1 4 ,0 8 3 ,2 0 9 D e c . 1 5 7 ,1 2 5 O p e r a t ln g e x p e n s e s ------- 1 9 0 8 -0 9 . . .$ 5 , 8 7 8 ,4 1 4 . . 3 ,9 2 6 ,0 8 4 ' N e t o p e r a t in g r e v e n u e N e t o u t s id e o p e r a t io n s . . .$ 1 , 9 5 2 ,3 3 0 $ 1 ,7 5 8 ,5 5 4 I n c . $ 1 9 3 ,7 7 6 1 7 ,0 2 5 I n c . .. 5 1 ,3 3 8 3 4 ,3 1 3 , . $ 2 ,0 0 3 ,6 6 8 $ 1 ,7 7 5 ,5 7 9 I n c . $ 2 2 8 ,0 8 9 2 2 4 ,6 6 7 I n c . .. 2 3 5 ,7 3 8 1 1 ,0 7 1 . $ 1 ,7 6 7 ,9 3 0 $ 1 ,5 5 0 ,9 1 2 I n c . $ 2 1 7 ,0 1 8 9 0 8 ,5 6 0 I n c . .. 2 1 ,5 9 7 O th e r I n c o m e ----------------------------------------9 3 0 ,1 5 7 . $ 2 ,6 9 8 ,0 8 7 $ 2 ,4 5 9 ,4 7 2 I n c . $ 2 3 8 ,6 1 5 $ 1 ,2 6 8 ,6 6 6 $ 1 ,1 9 6 ,5 4 4 I n c . $ 7 2 ,1 2 2 4 4 0 ,0 0 0 4 4 0 ,0 0 0 6 0 0 ,0 0 0 6 0 0 ,0 0 0 D iv id e n d s o n c o m m o n s t o c k ( 4 % ) . .. . D lv ld e n d s o n p r e fe r r e d s t o c k (4 % ) —. . $ 3 8 9 ,4 2 1 $ 2 2 2 ,9 2 8 I n c . $ 1 6 6 ,4 9 3 Missouri Kansas & Texas Railway Company. (Preliminary Report for Fiscal Year ending June 1 9 0 5 -0 6 . $ 7 ,2 6 5 ,0 5 8 5 ,2 3 3 ,2 8 7 N e t e a r n in g s ----------------- $ 2 ,4 5 7 ,9 0 9 O th e r in c o m e ____________ 3 9 2 ,0 8 9 $ 2 ,5 3 3 ,1 9 4 4 6 4 ,8 2 4 $ 2 ,5 5 8 ,0 1 5 4 5 3 ,7 1 7 $ 2 ,0 3 1 ,7 7 1 4 5 3 ,2 1 7 N e t in c o m e ____________ $ 2 ,8 4 9 ,9 9 8 I n t e r e s t , r e n t a l s , & c_____$ 1 ,5 0 6 ,8 7 1 D i v id e n d s ( 2 % ) _________ 1 ,1 6 2 ,3 2 2 $ 2 ,9 9 8 ,0 1 8 $ 1 ,4 7 7 ,4 2 9 1 ,1 6 2 ,3 0 8 $ 3 ,0 1 1 ,7 3 2 $ 1 ,3 5 6 ,9 4 9 1 ,1 6 2 ,3 0 2 $ 2 ,4 8 4 ,9 8 8 $ 1 ,2 9 7 ,4 8 6 1 ,1 6 2 ,2 9 6 " $ 3 5 8 ,2 8 1 $ 4 9 2 ,4 8 0 $ 2 5 ,2 0 6 B a la n c e , s u r p lu s _______ — V . 87, p . 738. $ 1 8 0 ,8 0 5 The following is a comparative statement for two years, the figures for 1907-08 having been somewhat changed from those appearing in the last annual pamphlet report. E A R N IN G S , E X P E N S E S A N D C H A R G E S. A v e r a g e m ile s o p e r a t e d ----------------- 1 9 0 8 -0 9 . 1 ,9 2 5 1 9 0 7 -0 8 . 1 ,8 8 1 . I n c . or D ec. In c. 44 $ 4 ,7 9 8 ,2 7 8 D e c . 2 4 ,1 0 3 ,9 3 9 I n c . $ 3 5 2 ,49< 7 1 7 ,3 8 1 E a r n in g s — P a s s e n g e r , m a il a n d e x p r e s s ______$ 4 ,4 4 5 ,7 8 1 F r e ig h t ................................... .................. - 2 4 ,8 8 1 ,3 2 0 T o t a l e a r n i n g s . - . .............................. $ 2 9 ,3 2 7 ,1 0 1 $ 2 8 ,9 6 2 ,2 1 7 I n c . $ 3 6 4 ,8 8 4 O p era tin g E x p e n se s — ___ ____ M a in te n a n c e o f w a y & s t r u c t u r e s . $ 3 ,3 3 1 ,8 8 8 $ 3 ,3 8 4 ,7 0 9 D e c . $ o 2 ,8 2 1 M aintenan ce of e q u ip m e n t ---------- 4 ,9 1 9 ,4 3 5 4 ,9 1 0 ,2 4 2 I n c . 9,193 4 8 7 ,1 0 6 4 7 5 ,5 7 8 I n c . 1 1 ,5 2 8 T r a ffic e x p e n s e s __________________ C o n d u c tin g t r a n s p o r t a t io n ----------- 8 ,3 4 6 ,9 9 2 9 ,3 2 4 ,2 7 6 D e c . 9 7 7 ,2 8 4 G e n e r a l e x p e n s e s . ................................... 6 4 4 ,3 3 5 6 6 9 ,9 0 9 D e c . 2 5 ,5 7 4 T o t a l e x p e n s e s _________________ . $ 1 7 ,7 2 9 ,7 5 6 $ 1 8 ,7 6 4 ,7 1 4 Dec. $ 1 ,0 3 4 ,9 5 8 N e t e a r n i n g s ___________________ $ 1 1 ,5 9 7 ,3 4 5 $ 1 0 ,1 9 7 ,5 0 3 Inc. $ 1 ,3 9 9 ,8 4 2 $ 5 ,2 4 8 ,4 8 0 I n c . $ 1 2 4 ,5 0 7 F ix e d c h a r g e s a n d t a x e s _________ $ 5 ,3 7 2 ,9 8 7 D iv id e n d s o n p r e fe r r e d s to c k (4 % ) 9 1 9 ,6 5 6 9 1 9 ,6 5 6 ----------------------D iv id e n d s o n c o m m o n s t o c k ___ ( 4 ° o ) 2 ,5 7 8 ,7 6 8 ( 4 1 5 )2 0 0 1 1 1 4 D e c . 3 2 2 ,3 4 6 T o t a l d e d u c t io n s ________________ $ 8 ,8 7 1 ,4 1 1 B a la n c e , s u r p lu s ________________ $ 2 ,7 2 5 ,9 3 4 $ 9 ,0 6 9 ,2 5 0 D e c . $ 1 9 7 ,8 3 9 $ 1 ,1 2 8 ,2 5 3 I n c . $ 1 ,5 9 7 ,6 8 1 T h e g r o ss ea rn in g s a s a b o v e c o m p a r e w ith $ 3 1 ,1 6 4 ,3 8 1 in 1 9 0 6 -0 7 a n d $ 2 8 ,4 8 7 ,7 6 6 in 1 9 0 5 -0 6 .— V . 8 9 , p . 163. Nashville Chattanooga & St. Louis Ry. {Statement for the Year ending June 3 0 1 9 0 9 .) T h e f o llo w in g is a c o m p a r a tiv e s t a t e m e n t for fo u r y ea rs: 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . 1 0 0 6 -0 7 . 1 9 0 5 -0 6 . G ro ss e a r n in g s _________ $ 1 1 ,1 2 2 ,1 1 4 $ 1 0 ,8 0 2 ,0 3 5 $ 1 2 ,2 3 8 ,4 7 2 $ 1 1 ,1 2 0 ,9 8 2 O p e r a tin g e x p e n s e s ____ 8 ,6 4 3 ,7 8 8 8 ,3 3 7 ,1 3 6 9 ,7 3 0 ,1 6 1 8 ,3 5 4 ,9 1 3 N e t e a r n in g s _________ $ 2 ,4 7 8 ,3 2 6 In terest. $ 9 4 5 ,0 6 0 2 4 5 ,9 4 2 'F a x e s . R e n t a ls 6 2 6 ,5 1 8 B a la n c e , s u r p lu s . -V . 8 8 , p . 52. $ 6 6 0 ,8 0 6 $ 2 ,4 6 4 ,8 9 9 $ 9 4 6 ,6 2 0 2 4 2 ,7 4 0 6 2 6 ,6 0 7 $ 2 ,5 0 8 ,3 1 1 $ 9 4 7 ,6 4 0 2 2 0 ,2 3 1 6 2 6 ,4 6 0 $ 2 ,7 6 6 ,0 6 9 $ 9 5 0 ,6 8 0 2 1 8 ,9 9 0 6 2 4 ,8 6 2 $ 6 4 8 ,9 3 2 $ 7 1 3 ,9 8 0 $ 9 7 1 ,5 3 7 St. Louis Southwestern Railway, {Statement for Fiscal Year ending June 3 0 1 9 0 9 .) T h e fo llo w in g is a c o m p a r a tiv e s t a t e m e n t fo r tw o y e a r s , th e figu res for 19 0 7 -0 8 h a v in g b e e n r e-a r ra n g ed to co n fo r m to th e r eq u ire m en ts o f th e I n t e r - S t a t e C o m m erce C om m ission : In c . ( + ) or D ec. (— ) . G ro ss o p e r a tin g r e v e n u e s _____________ O p e r a tin g e x p e n s e s ------------------------- . 1 0 0 7 -0 8 . 3 ,0 7 2 $ 2 3 ,2 8 3 ,6 7 0 1 6 ,4 3 2 ,1 0 8 N e t o p e r a tin g r e v e n u e _____________ T a x e s a c c r u e d __________ ______________ 7 ,6 3 3 ,5 0 9 9 6 7 ,3 0 9 6 ,8 5 1 ,5 6 2 6 8 8 ,2 4 3 + 7 8 1 ,9 4 7 + 2 7 9 ,0 6 6 O p e r a t in g I n c o m e ________ ________ R e n t a ls a n d h ir e o f e q u i p m e n t _______ M is c e lla n e o u s in c o m e — ____________ 6 ,6 6 6 ,2 0 0 6 5 ,6 1 5 1 1 5 ,8 1 0 6 ,1 6 3 ,3 1 9 6 1 ,1 6 0 3 2 0 ,2 6 3 + 5 0 2 ,8 8 1 + 4 ,4 5 5 — 2 0 4 ,4 4 3 T o t a l n e t I n c o m e ------------------------------I n t e r e s t o n b o n d s --------------- --------------- 6 ,5 4 4 ,7 4 2 4 ,6 5 8 ,6 2 8 1 2 ,0 0 0 3 1 ,4 3 4 + 3 0 2 ,8 9 3 + 1 1 2 ,0 0 6 I n t e r e s t a c c r u e d o n e q u ip m e n t n o t e s . O th e r I n t e r e s t . ________ ___________ H ir e o f e q u i p m e n t — ................................ R e n t a l s ____ __________________________ ‘ A d d it io n s a n d b e t t e r m ’ts in T e x a s . _ D iv id e n d o n p r e fe r r e d s t o c k ( 2 % ) ___ 6 ,8 4 7 ,6 3 5 4 , 7 7 0 ,6 3 4 1 2 ,0 0 0 3 ,3 1 8 7 9 ,7 0 1 7 7 ,2 7 8 5 3 0 ,4 0 8 4 3 3 ,4 1 2 5 2 0 .0 0 0 T o t a l d e d u c t i o n s . . --------------------------B a la n c e , s u r p lu s _______________________ 6 ,4 2 6 ,7 5 1 4 2 0 ,8 8 4 6 ,2 7 5 ,9 1 2 2 6 8 ,8 3 0 5 0 7 ,4 0 6 5 4 6 ,4 4 4 5 2 0 ,0 0 0 In c . or D ec. 1 9 0 8 -0 9 . O p e r a tin g r e v e n u e s ________________$ 1 0 ,3 3 1 ,8 8 9 O p eratin g ex p en ses and t a x e s ____ 8 ,0 6 5 ,9 5 6 1 9 0 7 -0 8 . $ 9 ,5 9 8 ,2 6 4 7 , 8 7 9 ,1 1 0 I n c . $ 7 3 3 ,6 2 5 I n c . 1 8 6 ,8 4 6 O p e r a tin g I n c o m e ______________ O th e r in c o m e ---------------------------------- $ 2 ,2 6 5 ,9 3 3 4 7 7 ,5 4 4 $ 1 ,7 1 9 ,1 5 4 7 4 2 ,2 3 1 I n c . $ 5 4 6 ,7 7 9 D e c . 2 6 4 ,6 8 7 T o t a l n e t i n c o m e ________________ $ 2 ,7 4 3 ,4 7 7 F ix e d c h a r g e s , r e n ta ls , & c ________ $ 2 ,0 1 9 ,3 0 8 D iv id e n d o n p r e fe r r e d s t o c k (2 % ) . 3 9 7 ,8 7 3 $ 2 ,4 6 1 ,3 8 5 $ 2 ,0 1 1 ,8 6 2 .............. I n c . $ 2 8 2 ,0 9 2 In c. $ 7 ,4 4 6 I n c . 3 9 7 ,8 7 3 $ 3 2 6 ,2 9 6 $ 4 4 9 ,5 2 3 D e c . $ 1 2 3 ,2 2 7 B a la n c e , s u r p lu s — V . 88 , p. 1438. American Felt Co. {Balance Sheet of Jan. 1 1909, Filed in Massachusetts.) 1909. 1908. 1908. 1909. Liabilities— $ $ Assets — $ * R eal e s t a t e .......... ...... 1 ,253,202 1 ,272,487 C apital s to c k _______ 3 ,2 5 4 ,6 0 0 3 ,2 5 4 ,6 0 0 19,114 2 7 ,680 575,921 A ccounts p a y a b le M a c h in er y .................... 539,193 38 3 ,0 00 7 0 5 ,5 7 8 F unded d e b t ............... 3 8 3,000 M aterial ___________ 5 0 7,629 J 150,000 9 0 ,0 0 0 S u r p l u s ........................ I 363,814 S to ck other corp’n s . 9 0 ,0 0 0 1277,066 75 7 ,7 1 8 Profit and lo ss --------- J Cash & d eb ts r e ce lv . 8 7 7,236 682,076 M a n u fa c tu r e s______ 7 6 1,534 T o t a l............ ............. 4 ,0 2 9 ,0 9 4 4 ,0 8 3 ,7 8 0 — V. 88, p. 376. T o ta l...................... ..4 ,0 2 9 ,0 9 4 4,0S3,7S0 American Pneumatic Service Co., Boston. 30 1 9 0 9 .) 1 9 0 8 -0 9 . 3 ,0 7 2 $ 2 5 ,3 0 0 ,9 1 5 1 7 ,6 6 7 ,4 0 6 $ + 2 ,0 1 7 ,2 4 5 + 1 ,2 3 5 ,2 9 8 — 2 8 ,1 1 6 + 7 9 ,7 0 1 + 7 7 ,2 7 8 + 2 3 ,0 0 2 — 1 1 3 ,0 3 2 + 1 5 0 ,8 3 9 + 1 5 2 ,0 5 4 * T h e r e w e r e a ls o a d d it io n s a n d b e t t e r m e n t s m a d e o u t s id e S t a t e o f T e x a s , d u r in g y e a r e n d in g J u n e 3 0 1 9 0 9 , a m o u n t in g t o $ 9 4 8 ,5 1 6 , a n d c h a r g e d to I m p r o v e m e n t fu n d n o r th o f R e d R iv e r . T h e g r o ss e a r n in g s a s a b o v e c o m p a r e w ith $ 2 6 ,1 8 3 ,9 5 9 a n d th e n e t e a rn in g s w ith $ 9 ,4 5 3 ,3 9 7 in 1 9 0 6 -0 7 .— V . 8 9 , p . 4 2 . 1 9 0 6 -0 7 . $ 8 ,2 0 2 ,3 6 1 5 ,6 4 4 ,3 4 6 E A R N IN G S . E X P E N S E S A N D C H A R G E S. H o c k in g V a lle y R a ilw a y . B a la n c e , s u r p lu s _____________________. . — V . 89, p. 286, 41. 1 9 0 7 -0 8 . $ 8 ,1 2 1 ,4 9 4 5 ,5 8 8 ,3 0 0 N o r fo lk & W e s t e r n R a ilw a y . 1 0 ,5 0 0 ,0 0 0 6 ,0 0 0 ,0 0 0 1 1 ,8 6 7 ,0 0 0 7 , 1 9 2 ,0 0 0 3 0 4 ,0 0 0 2 3 4 ,6 3 1 1 ,6 3 9 ,6 7 5 1 6 6 ,1 2 9 N e t o p e r a tin g r e v e n u e ___________ $ 1 1 ,2 6 4 ,8 4 3 O u ts id e o p e r a tio n s , n e t ____________ 8 3 ,4 1 4 30 1909 1 9 0 8 -0 9 . G ro ss e a r n i n g s ___________ $ 8 ,2 9 0 ,1 7 0 O p e r. e x p e n s e s a n d t a x e s 5 ,8 3 2 ,2 6 1 {Statement for Fiscal Year ending June 30 1909.) 4 3 ,8 1 3 ,3 5 5 T o t a l --------------------------- . 4 5 ,1 6 3 ,0 7 8 L ia b ilitie s — {Statement for the Year ending June Report for Fiscal Year ending March 1 9 0 9 .) A b str a c ts of t h e r e p o r ts o f t h e s e v e r a l o ffic ia ls fo llo w : Abstract of Report of President Wm, fl. Ames. G eneral RestiU s .— U n u s u a l c o n d itio n s a f fe c t in g th e s to r e s e r v ic e b u s in e s s a r c r e sp o n s ib le fo r a la r g e s h r in k a g e In t h e y e a r s e a r n in g s fr o m t h a t s o u r c e . T h e m a ll t u b e s y s t e m s , o n t h e o t h e r h a n d , h a v e m a d e a g r a d u a l In crea se in e a r n in g s , d u e t o h ig h e r o p e r a tin g e f f ic ie n c y , n tu l t o t h e e x te n s io n o f th e N e w Y o r k s y s t e m , w h e r e s o m e 15 m ile s o f d o u b le t u b e s h a v e b e e n a d d e d d u r in g t h e p a s t y e a r . T h ese' h a v e b e e n in o p e r a tio n s o a s t o g e t f u ll b e n e f it s o f r e v e n u e fo r a b o u t th r e e m o n th s o n l y . A c a r e fu l a n a ly s is o f th e r e s u lt s fo r t h a t p e r io d s h o w s o p e r a tin g p r o llts lo v t n c rNCW Y o r k s y s t e m , a s a t p r e s e n t c o n s t it u t e d , a t t h e r a t e o f a b o u t $ 1 8 0 ,0 0 0 p e r y e a r , a g a in s t $ 1 1 ,2 6 0 fo r t h e y e a r e n d in g M a r ch 31 1 9 0 8 , a g a in o f a b o u t $ 1 7 0 ,0 0 0 petyear. D u r in g t h e c o m in g y e a r w e h o p e t o m a k e s t ill f u r th e r r e d u c tio n s In o p e r a tin g e x p e n s e s , b y t h e a d o p t io n o f p o w e r - s a v in g d e v ic e s w h ic h a re n o w in c o u r se o f d e v e lo p m e n t . W e a r e a ls o m a k in g I m p r o v e m e n ts t o c a r rie r s a n d m a c h in e r y . . , ... . P n e u m a tic T u b e S itu a tio n .— T h e s it u a t io n In C h ic a g o u n t il w it h in a v e r y s h o r t t im e r e m a in e d p r a c tic a lly u n c h a n g e d . R e p e a t e d e ffo r ts h a d b e e n m a d e b y u s t o r e -e s t a b lis h t h e s e r v ic e t o t h e C h ic a g o & N o r th W e s te r n R y . s t a t i o n , w h ic h s e r v ic e w a s In te r r u p te d s o m e 2 Vi y e a r s a g o b y t h e d e s tr u c t io n o f t h e t u n n e l u n d e r t h e C h ic a g o R iv e r . YVe a r e J u st a d v is e d t h a t a n o r d in a n c e t o a u t h o r iz e u s t o c o n s tr u c t o u r o w n tu n n e l h a s b e e n p a s s e d , a n d w e w ill I m m e d ia te ly p r o c e e d w i t h Its c o n s tr u c t io n . W e e s t im a t e th e c o s t t o b e a b o u t $ 2 0 ,0 0 0 . W h e n c o m p le t e d o u r y e a r ly r e v e n u e w ill b e in c r e a s e d a b o u t $ 3 0 ,0 0 0 . , W e h a v e n o t a s y e t b e e n s u c c e s s f u l in o u r e ffo r ts t o e lim in a t e t h e u n fa ir p r o v is io n In t h e C h ic a g o fr a n c h is e w h e r e b y o u r p n e u m a t ic t u b e s b e c o m e t h e p r o p e r ty o f t h e c it y In 1 9 2 3 , a n d y o u r d ir e c to r s a r c or th e o p in io n t h a t no f u r th e r e x t e n s io n s s h o u ld b e m a d e In t h a t c it y u n t il t h is h a s b e e n d o n e . E a r ly In 1908 a n a c t w a s p a s s e d b y C o n g r e s s I n s tr u c tin g t h e P o s t m a s t e r G en er a l to I n v e s tig a te a s t o t h e f e a s ib ilit y a n d d e s ir a b ilit y o f t h e p u r c h a s e b y t h e G o v e r n m e n t o f th e d iffe r e n t p n e u m a t ic m a ll t u b e s y s t e m s In t h e c it i e s w h e r e t h e y a r e I n s ta lle d . T h e P o s t m a s t e r - G e n e r a l t h e r e u p o n a p p o in t e d a c o m m is s io n lo r t h is p u r p o s e . T h e c o m m is s io n , a l t e r s e v e r a l m o n th s o l s t u d y , r e p o r te d a d v e r s e ly o n t h e a d v i s a b il it y o f G o v e r n m e n t o w n e r s h ip a t t h is t im e , a n d r e c o m m e n d e d t h a t t h e m a t t e r b e p o s t p o n e d lo r a l e w y e a r s . T h e r e p o r t s h o w s t h a t t h e s e r v ic e Is llr m ly e s ta b lis h e d a s a n e c e s s a r y p a r t o l t h e p o s t a l s y s t e m (V . 8 8 , p . 1 0 3 ). T h e D e p a r t m e n t Is a s k in g u s fr o m t im e t o t im e t o e x t e n d t h e s e r v ic e b e y o n d t h e m ile a g e s p e c ifie d In o u r c o n t r a c t s . In o n e ca se w e h a v e a lr e a d y d o n e t h is a n d a t t h e p r e s e n t t im e a r e f a v o r a b ly c o n s id e r in g o t h e r s . P r io r to t h e la s t th r e e o r lo u r m o n th s w e h a v e n o t f e l t ju s tifie d In m a k in g s u c h e x t e n s io n s . T h e r e s u lt s d u r in g t h is p e r io d , h o w e v e r , p r o v e c o n c lu s iv e ly t h a t t h e g r e a te r t h e m ile a g e w e c a n o p e r a te In t h e d iffe r e n t c it ie s t h e b e t te r th e p r o p o r tio n a l n e t r e tu r n . W e a r e o f t h e o p in io n , th e r e fo r e , t h a t w it h t h e fu tu r e I m p r o v e m e n ts s h o r tly t o b e p u t I n to e f f e c t , w e s h a ll b e a b le t o r e c o m m e n d t o s to c k h o ld e r s a p la n b y w h ic h t h e n e c e s s a r y c a p ita l m a y b e p r o v id e d lo r c o n s e r v a t iv e e x p a n s io n . Abstract of Report of Oakes Ames, Vice-President Lamson Consolidated Store Service Co., Boston, Alay 20 1909. , T h e b u s in e s s o l t h e L a m s o n C o . lo r t h e p a s t y e a r s h o w s a f a llin g o ff In g r o s s o f 1 4 % , d u e p r in c ip a lly t o t h e s e v e r e d e p r e s s io n o l g e n e r a l b u s in e s s th r o u g h o u t th e c o u n tr y . U n u s u a l c o m p e t it iv e c o n d itio n s c a lle d lo r g r e a te r d e x t e r i t y In t h e p r o t e c t io n o f t h e la r g e fie ld c o v e r e d b y o u r c o m p a n y , I n v o lv in g c o r r e s p o n d in g In c r ea se In e x p e n s e a n d In m a n y In s ta n c e s g r e a tly r e d u c e d s e llin g p r ic e s . T h e b u s in e s s o l o u r s u b - c o m p a n ie s h a s b e e n c o r r e s p o n d in g ly a f fe c t e d a n d h a s p r o p o r t io n a t e ly r e d u c e d o u r In c o m e fr o m t h a t s o u r c e . T h is c o m b in a t io n o f c o n d itio n s h a s n a t u r a lly b e e n r e fle c te d In t h e n e t o p e r a tin g e a r n in g s , w h ic h a r e b u t 5 5 % o l t h o s e o l la s t y e a r . D u r in g t h e l a s t 18 m o n th s w e h a v e m a d e r a p id s tr id e s In t h e p e r fe c tio n of n ew a p p a r a tu s. I n o u r p n e u m a t ic t u b e d e p a r t m e n t m u c h a t t e n t io n h a s b e e n g i v e n t o t h e d e v e lo p m e n t o l n e w p o w e r - s a v in g a p p a r a t u s , w h ic h c a n b e e a s ily a t t a c h e d t o e x is t in g p la n t s , a n d b y t h e u s e o f w h ic h o p e r a tin g e x p e n s e s m a y b e r e d u c e d fr o m 5 0 t o 8 0 % . T h is a p p a r a t u s w e c la im to c o n t r o l th r o u g h t h e o w n e r s h ip o f b a s ic p a t e n t s , a n d v a r io u s I n fr in g e m e n t s u it s a r c b e in g w a g e d b y u s o n t h e s e p a t e n t s (V . 8 9 , p . 4 4 ) . T h e p n e u m a t ic a m m u n it io n h o is t w h ic h h a s b e e n In p r o c e s s o l d e v e lo p m e n t a t o u r L o w e ll f a c t o r y lo r t h e p a s t t w o y e a r s h a s p a s s e d A n al ln s p e c tlo n a n d b e e n a c c e p te d b y t h e N a v y D e p a r t m e n t, a n d Its I n s ta lla tio n o n th e b a t t le s h ip M a s s a c h u s e t t s h a s j u s t b e e n c o m p le t e d . W e are to prepare p la n s s h o w in g t h e I n tr o d u c tio n o f t h e h o is t o n v a r io u s o t h e r b a t tle s h ip s . W e h a v e r e c e n t ly a r r a n g e d lo r t h e c o n s o lid a t io n o f t h e m a n u f a c t u r in g p la n t s o l s o m e o f o u r s u b - c o m p a n ie s a t o u r L o w e ll f a c t o r y . C o m p le tio n o l n e g o t ia t io n s b y w h ic h t h e b u s in e s s o l t h e U n it e d S to r e S e r v ic e & T u b e C o . h a s b e e n t a k e n o v e r b y u s h a s s to p p e d e x p e n s iv e lit ig a t io n fo r In fr in g e m e n t o f o u r p a t e n t s . T h e t it le a n d r ig h ts to v a r io u s o th e r p a t e n t s o w n e d b y t h a t c o m p a n y n o w c o m e In to o u r c o n t r o l, w h ic h w ill m a te r ia lly s tr e n g t h e n o u r p o s itio n In t h e s to r e s e r v ic e fie ld ( V . 8 8 , p . 8 2 4 ). P ttW h lle i t Is a s y e t t o o e a r ly t o m a k e a n y d e f in it e p r e d ic t io n s , t h e r e p o r ts fo r t h e fir st s ix w e e k s o f t h e p r e s e n t fisc a l y e a r s h o w a n In c r ea se In n e w c o n t r a c t s t a k e n o f 40% o v e r l a s t y e a r , a n d a ll o f t h e m a t b e t t e r p r ice s. T h is , t o g e t h e r w it h t h e e lim in a t io n o f d e s tr u c t iv e c o m p e t it io n , In d ic a te s a g r a t if y in g f u tu r e . •r<4"H Extract from Report of Chief Engineer B. C. Batcheller. P r io r t o N o v . 1 1 9 0 7 1 2 .1 1 9 4 m ile s o f n e w l i n e s h a d b e e n l a id I n N e w Y o r k b u t n o c o n n e c tio n s h a d b e e n m a d e t o a n y o f t h e s t a t i o n s , a n d s e v e r a l b r e a k s In t h e lin e s r e m a in e d to b e c lo s e d . S in c e t h a t d a t e p la n s o f 18 s t a t io n s h a v e b e e n p r e p a r e d , e q u ip m e n t o r d e r e d , t h e lin e s e x t e n d e d In to t h e s t a t i o n s , a n d t h e s t a t i o n s e q u ip p e d ; t h e b r e a k In t h e lin e a t t h e e x c a v a t i o n f o r t h e n e w P e n n s y lv a n ia R R . s t a t io n h a s b e e n c lo se d ; a n o t h e r b r e a k a t L e n o x A v e . a n d 1 2 4 th S t . h a s b e e n c lo s e d , a n d t h e lin e o n N in t h A v e . h a s b e e n e x t e n d e d th r o u g h 3 9 t h S t . t o T im e s S q u a r e s t a t i o n . E n tir e n e w lin e s h a v e b e e n c o n s tr u c t e d fr o m t h e G e n e r a l P o s t O ffic e t o H u d s o n T e r m in a l s t a t i o n , a n d fr o m T im e s S q u a re s t a t io n t o G ran d C e n tr a l s t a t io n . M ileage i n N e w Y o rk . T o t a l le n g t h (O f w h ic h T o t a l le n g t h T o ta l le n g th o f d o u b le t u b e s la id o n n e w lin e s s in c e N o v . 1 ’0 7 . 2 .8 0 5 3 m ile s 2 3 7 7 .5 f e e t Is o n lin e s n o t y e t c o m p le t e d .) o f n e w lin e s n o w In o p e r a t io n ____________________1 4 .5 3 4 5 “ o f n e w a n d o ld lin e s n o w In o p e r a t io n ___________2 1 .5 3 4 5 “ Report of Operating Manager of Mail Tube Department. In co m e o f the F o u r M a il T u b e C o m p a n ies fo r the L a st T w o F isc a l Y ea rs M ile s i n Gross O perating N e t O per. Y ea r — O peration. In co m e. E x p e n s e s. E a r n in g s . Increase. 190708 ............. . . 2 3 . 0 0 8 5 $ 3 9 0 ,2 4 2 $ 2 9 0 ,2 7 9 $ 0 9 ,9 6 2 _______ 190809 ..................3 0 .6 1 2 4 5 2 5 ,0 2 1 3 0 5 ,5 8 9 2 1 9 ,4 3 2 $ 1 1 9 ,4 6 9 F o r l t h e l a s t th r e e m o n th s ' o f t h e {fisc a l y e a r 2 1 .7 4 8 5 m ile s o f d o u b le t u b e h a v e b e e n In s e r v ic e In N e w Y o r k , m a k in g t h e t o t a l m lle a g e j o f a ll o u r s y s t e m s f o r t h is p e r io d 3 7 .7 5 7 0 , w h ile t h e t o t a l a v e r a g e m ile a g e fo r t h e fis c a l y e a r w a s o n ly 3 0 .6 1 2 4 . T h e c o s t o f o p e r a tin g t h e c o m b in e d s y s t e m s fo r t h e l a s t y e a r w a s r e d u c e d 2 0 .9 % p e r m ile , p r in c ip a lly In t h e c o s t o f p o w e r a n d r e p a ir s . D u r in g t h e y e a r a p p r o x im a t e ly 15 m ile s o f d o u b le t u b e s , in c lu d in g 16 n e w s t a t i o n s a n d 7 p o w e r s t a t i o n s , w e r e p u t In to o p e r a tio n In N e w Y o r k . A t p r e s e n t a p p r o x im a t e ly 3 8 m ile s o f d o u b le p n e u m a t ic t u b e s a r e in d a lly o p e r a tio n , In c lu d in g 6 0 s t a t i o n s a n d 3 2 p o w e r u n it s . A p p r o x im a te ly 1 8 0 m e n , d iv id e d I n to t w o s h if t s , a r e e m p lo y e d t o o p e r a te t h e t u b e s , a n d t h e s e m e n h a n d le a n a v e r a g e o f a b o u t 6 8 ,0 0 0 ca r rie r s p e r d a y . I t is e s t i m a te d b y p o s t -o f f ic e o f fic ia ls t h a t s o m e 13 H m illio n le t t e r s a r e c a r r ie d d a lly t h r o u g h t h e p n e u m a t ic t u b e s . A c a r rie r o f a n e w d e s ig n w a s d e v e lo p e d d u r in g t h e y e a r , a n d 2 ,0 0 0 car rie r s o f t h is t y p e w e r e b u ilt In t h e B o s t o n s h o p , a n d d e liv e r e d t o t h e N e w Y o r k s y s t e m . T h e c o s t o f t h is ca r rie r Is a b o u t 18% b e lo w t h e c o s t o f t h e c a r rie r f o r m e r ly u s e d , a n d Its lif e , fr o m p r e s e n t I n d ic a tio n s , 6 0 to 80% lo n g e r . T h e B o s t o n s h o p In a d d it io n m a n u f a c t u r e d a n d d e liv e r e d 1 ,3 2 0 ca r rie r s o f o t h e r t y p e s : fu r n is h e d r e p a ir p a r ts fo r t h e d iffe r e n t p n e u m a t ic t u b e s y s te m s ; a n d d id t h e r e p a ir w o r k fo r t h e B o s t o n s y s t e m . Extract from Report of Treasurer (Elmer Clapp. I n t h e fa ll o f 1 9 0 7 It w a s fo u n d t h a t o v e r $ 8 0 0 ,0 0 0 h a d b e e n e x p e n d e d In m a ll t u b e c o n s tr u c t io n In N e w Y o r k a n d B r o o k ly n , a n d t h a t a n a d d it io n a l $ 4 0 0 ,0 0 0 o r $ 5 0 0 ,0 0 0 w o u ld b e n e e d e d In o r d e r t o fu lfil t h e c o n t r a c t w it h t h e G o v 6 r n m c n t fo r t h e y e a r 1 9 0 8 . O n r e q u e s t, t h e I n t e r n a t io n a l T r u s t C o. c e r t ifie d t h e Issu e o f $ 4 4 1 ,0 0 0 a d d it io n a l b o n d s . T h e l e g a l i t y o f t h is Issu e w a s q u e s t io n e d a n d t h e C o u rt g r a n t e d a te m p o r a r y i n ju n c tio n r e s t r a in in g t h e c o m p a n y fr o m u s in g a n y p a r t o f t h is Issu e o f b o n d s . A fter a h e a r in g , in w id e n t h e f a c t s w e r e c le a r ly p r e s e n te d , t h e S u p r e m e C o u rt o n M a rch 19 1 9 0 9 d e c id e d t h a t t h e b o n d s w e r e In a ll r e s p e c t s le g a l l y I s su e d a n d t h e I n j u n c tio n w a s r e m o v e d . C O N S O L I D A T E D IN C O M E A C C O U N T — Y E A I I S E N D I N G M A I i C I I 31. (Ite m s between the com panies elim in a te d .) 1909. $ 3 2 4 ,7 1 6 G ro ss p r o fits a n d r e n t a l s ..................... D educt — I n t e r e s t p a id o u t s i d e r s . . ..............................................$ 1 1 1 ,7 8 1 S in k in g fu n d o b l ig a t io n s ............................... 3 0 ,9 8 0 ________ 3 8 ,3 7 0 D e p r e c ia t io n a c c o u n t , C h ic a g o L o s s e s o n s a le o f p a r c e l d e liv e r y e q u i p m e n t ________ A d ju s t m e n t s , lo s s e s , & c ____ ..C r .1 ,2 1 9 1908. $ 3 3 7 ,8 3 7 1907. $ 2 6 4 ,4 2 6 $ 9 8 ,8 0 9 3 2 ,5 7 0 3 8 ,3 7 0 2 2 ,1 9 3 4 ,8 7 9 $ 9 9 ,5 9 4 2 7 ,9 3 0 3 8 ,3 7 0 T o t a l d e d u c t io n s ........................... ............................ $ 1 8 5 ,9 1 2 S u r p l u s ------ . . . - - - .........................................................$ 1 3 8 ,8 0 4 L e s s d iv id e n d s p a id o n o u t s ta n d in g s t o c k o f s u b o r d in a te c o m p a n ie s --------------. 1 ,3 7 8 $ 1 9 6 ,8 2 1 $ 1 4 1 ,0 1 6 $ 1 0 5 ,8 9 4 $ 9 8 ,5 3 2 7 ,1 6 9 1 ,3 7 8 B a la n c e o f in c o m e In e x c e s s o f a ll c h a r g e s . $ 1 3 7 ,4 2 6 P r o fit a n d lo s s a d j u s t m e n t s _____ _____________ 7 ,5 3 3 $ 1 3 3 ,8 4 7 $ 9 7 ,1 5 4 T o t a l ................................... ........... . $ 1 4 4 ,0 5 9 $ 1 3 3 ,8 4 7 $ 0 7 ,1 5 4 B A L A N C E S H E E T A M E R . P N E U M A T I C S E R V I C E C O ., M C I I . 3 1 1 0 0 9 . A s s e ts — L ia b ilitie s — I n v e s t m e n t s .........................$ 1 7 .4 6 0 ,7 8 3 C o m m o n s t o c k . ............... _ .$ 1 0 , 0 0 0 ,0 0 0 P a t e n t s ........................... .......... P l a n t s ____________________ C a sh , n o t e s & a c c t s . r c c . A ccts. r e c . b e tw e e n c o s .. A d v a n c e ln s u r . & l n t . . . M a te r la ls a n d s u p p l i e s . . D e fe r r e d c h g e s . t o o p e r . . D ls c . p a p e r & g u a r a n t e e . T r e a s u r y s t o c k . ................... T reasu ry b o n d s . . . . S in k in g f u n d ........................... 6 8 ,4 5 0 4 8 ,3 8 8 4 1 ,4 2 5 ,1 5 2 ,7 8 8 3 ,8 9 9 1 3 8 ,5 2 7 7 ,4 8 5 1 2 ,5 0 0 8 ,7 1 5 6 6 6 ,5 0 0 1 4 5 ,6 5 0 T o t a l ...................................... $ 1 9 ,7 5 5 ,1 0 9 1 P r e fe r r e d s t o c k ___________ B o n d s ____________________ N o te s & a c c ts. p a y a b le .. C o n tr a c ts fo r p u r c h a s e .. E n d o r s e m e n t s ___________ I n t . & t a x e s a c c r ., p a y ’lo A d v a n c e c o ll e c t i o n s _____ R e s e r v e s ____ S u r p l u s ...................................... 6 ,3 2 8 ,8 5 0 1 ,8 4 0 ,0 0 0 4 8 3 ,1 0 4 6 ,8 6 7 5 0 ,5 0 0 2 ,8 5 3 5 ,3 1 7 6 5 7 ,8 7 2 3 7 0 ,7 4 0 T o t a l ......................... ............. $ 1 9 ,7 5 5 ,1 0 9 C O N SO L ID A T E D B A L A N C E S H E E T A M E R IC A N P N E U M A T IC S E R V IC E CO A N D S U B S ID IA R IE S M A R C H 3 1 . 1908. 1909. Assets — Liabilities — $ $ 1909. 1908. $ $ Patents, good-will Capital stock held and Inve8tmentsl3,206,374 12,761,326 by outsiders___ 16,535,309 16,129,149 Plant accounts... 5,255,394 4,831,015 Bonded debt......... 1,580,000 1.526,500 Patterns, drawings 482,574 Notes payable___ 668,436 and designs___ 59,552 Accounts payable. 63,558 162,800 150,886 Cash, office, banks Accrued Interest, and agents____ 51,238 88,327 Ins. and ta x e s.. 40,245 48,357 104,342 Notes & accounts Contingent llabll.. 79,323 316,892 322,576 Reserves— Depre receivable____ 242,632 Merchandise 1 n ciation of plants 324,702 781,405 ventorles........... 795,861 Doubtful accts. 15,919 38,371 Exp. on contracts. 125,108 124,951 Insur. of plants. 2,762 10,318 9,484 Prepaid accounts. 9,806 Completlon of Sinking fund de contracts___ 119,483 121,638 105,644 posits ________ 145,650 Reconstruction . 28,233 7,876 11,314 Other Items........... 31,183 Sinking fu n d ... 124,019 164,025 Capital stock purchased . . . 3,200 3,200 Miscellaneous___ 1,493 308 Surplus................... 262,759 117,800 Total.................. 20,000,907 19,095,753 — V . 89, p. 44. Total...................20,000,907 19,095,753 Electrical Securities Corporation, New York. (Report for Half-Year ending April 30 1 9 0 9 .) T h is c o m p a n y , o f w h ic h G eo rg e R . S h e ld o n is P r e s id e n t, r ep o rts a s fo llo w s: P R O F IT A N D L O S S A C C O U N T A P R IL 30. 1909. 1908. $ $ U n d e r ly in g & I n v e s t, b d . i n t . r e c e iv e d a n d a c c r u e d ____ 1 5 7 ,9 5 5 1 4 1 ,4 9 4 D lv s . o n I n v e s tm e n t s t o c k s r e c e i v e d . . . 4 6 ,5 9 5 2 5 ,7 4 5 P r o fit o n s a le o f s e c u r it ie s , & c .............1 7 2 ,8 1 9 4 ,4 8 8 1909. C o ll. t r . b o n d i n t . . . 8 9 ,3 1 7 I n t e r e s t , g e n 'l a c c ’t . 8 ,1 1 0 E x p e n s e s ___________2 5 ,1 9 5 P r e f. d l v s . ( 2 H % ) - 2 5 ,0 0 0 1908. 5 6 8 ,7 5 0 6 ,9 3 5 2 8 ,8 7 9 2 5 ,0 0 0 T o t a l I n c o m e ------ 3 7 7 ,3 6 9 1 7 1 ,7 2 7 T o t a l d ls b u r s e ’t s .1 4 7 ,6 2 2 1 2 9 ,5 6 4 B a la n c e , s u r p l u s . . ................. ....................................................................2 2 9 ,7 4 7 4 2 ,1 6 3 B A L A N C E S H E E T A P R IL 30. 1909. 1908. 1909. 1908. A ssets — $ L ia b ilitie s — $ $ $ P le d g e d fo r c o ll, C o ll. t r . 5% b d s . 3 ,4 0 1 , 0 0 0 2 .7 5 0 ,0 0 0 t r . 5 s (p a r In S u r p . o f c o ll , h e ld 1 9 0 9 , $ 4 ,7 2 1 , a s s e c . fo r s a m e 3 8 0 ,8 8 2 2 4 0 ,5 7 8 0 0 0 ) _________ 3 ,7 8 0 ,4 0 7 2 ,9 8 9 ,2 3 8 C o m m o n s t o c k . . 2 ,0 0 0 , 0 0 0 2 ,0 0 0 ,0 0 0 I n t r u s t t o reP r e fe r r e d s t o c k - 1 ,0 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 d e e m c o ll. tr . N o t e s p a y a b l e . . 2 0 0 ,0 0 0 4 2 5 ,0 0 0 5% b o n d s ____ 1 ,4 7 5 1 ,3 4 0 A c c r ’d I n t . p a y a b le 3 8 ,3 5 8 2 6 ,2 7 9 T r e a s u r y b o n d s . 3 4 8 ,0 0 0 T a x es a c c r u e d .. 808 831 I n v e s t m ’t s t o c k s R e se r v e fo r r ea p (p a r In 1 9 0 9 , 4 0 0 ,0 0 0 p r a isa l o f a s s e t s _______ $ 5 ,3 3 3 ,8 0 0 ) . . 1 , 5 7 2 , 0 4 8 1 ,4 6 2 ,0 6 1 N e t p r o fits s in c e I n v e s t m ’t b o n d s N o v . 1 1 9 0 4 . . 2 9 0 ,9 5 8 1 1 ,0 4 8 par In 1909, S u r p lu s N o v . 1 $ 2 ,0 7 1 ,0 0 0 ) . . 1 , 3 9 9 , 0 5 6 1 ,9 5 3 ,4 7 1 1 9 0 4 --------------- 5 0 0 ,0 0 0 5 0 0 ,0 0 6 N o t e s & a c c ’ts r e c e lv . (b o o k v a lu e ) _______ 3 4 ,6 9 0 1 7 4 ,8 2 2 S y n d ic a t e a c c ’ts ( u n d e r w r itte n ) 1 0 0 ,0 0 0 3 8 9 ,0 2 0 A c c r ’d I n t. r e c ’le 5 9 ,0 1 3 9 8 ,9 3 1 4 4 ,2 7 5 C a s h ......... ............... 1 3 0 ,4 3 4 S u r p lu s .................... 3 8 0 ,8 8 2 2 4 0 ,5 7 9 T o ta l________ 7,812,006 7,353,737| T o ta l________ 7,812,006 7,353,737 Collateral Trust 5% 30-Year Bonds, Subject to Call at 103 and Interest. 5 th Series — lsf nd 3rd 4th Total. Dated— N ov. '04. Feb. ’05. M a y '05. J a n . ’06. Dec. '07. 2 Coll. tr. 5s, canceled.$594,000 Aver, price p a id ...101,70% Underlying bds. sold. 629,000 Aver, price rec’d . . 96.07% Coll. tr. 5s outstand ing Oct. 31 1908... 406,000 Undcrly’g bds.pledged 621,000 —V. 89, p. 346. $305,000 100.88% 325,000 94.78% 100 . 1 2 % $466,000 $291,000 98.09% 513,000 313 .0 0 0 90.95% 91.49% 6 95.000 94 5 .0 0 0 5 34.000 752 .0 0 0 709 .0 0 0 94 9 .0 0 0 $443 ,0 0 0 $ 2 ,0 9 9 ,0 0 0 100.32% 4 92,000 2 ,2 7 2 ,0 0 0 90.13% 557.000 7 7 3 .0 0 0 2 .9 0 1 .0 0 0 4 .0 4 0 .0 0 0 Canton Company, Baltimore. (.Report for Fiscal Year ending May 31 1 9 0 9 .) T h e rep o rt o f P r e sid e n t W . B . B r o o k s , p r e se n te d a t th e a n n u a l m e e tin g o n J u n e 10 1 9 0 9 , s a y s in su b s ta n c e : D uring th e fiscal y e ar th ere haye been tw o dividends declared from Income, nam elv: J u ly 1 1908, $1 50 p e r share, an d J a n . 2 1909, $1 50 per share, or a to ta l of $3 per share. This Is th e largest dividend th a t has ever been declared o u t of th e earnings. The bulkhead e ast of th e L azaretto In th e v icinity of 12th Ave. w as com p leted la st y e a r and w ork was th e n begun of filling. D uring th e y e ar we nave deposited a b o u t 373,000 cu. yds. of filling, w hich has b ro u g h t up to grade all of th e p ro p e rty enclosed in th e b ulkhead betw een 12th Ave. and th e w aterfro n t betw een 2d S t. a n d 6 th S t. T his p ro p e rty Is now ready for m a rk e t and should rem unerate th e com pany largely. I t Is surrounded b y a bulkhead w ith 2,565 ft. of w a terfro n t a n d th e re Is a b o u t 24 f t. of w a ter In fro n t of It. W e are constructing a bulkhead a t th e foot of 5th Ave. w hich will con form to th e new Im provem ents m ade a t th is p o in t b y th e P ennsylvania R R . and will be a g reat convenience to o u r p ro p e rty Inland. On E astern A ve., Inside of th e c ity lim its, th e city Is now p u ttin g In a sew er. The city au th o ritie s have also agreed th a t we should pave a nd grade C anton S t., w hich will be of g re a t a d v an tag e to th e contiguous p ro p e rty , from E astern Ave. to B altim ore S t.; we a re to tu rn It over to th e city w hen com pleted a n d th e y to reim burse us fo r one-half of th e ex p e nditure. This will leave us w ith good building sites on this paved stre et facing th e p a rk , a n d w hen th a t is disposed of It w ill en tirely clean up th e section betw een E astern Ave. an d B altim ore S t., on w hich a re now con stru cted some 600 houses. T he city has com pleted Its o utfall sew er th ro u g h o u r p ro p e rty In th e vicinity of B ac k R lv e ra n d have constructed on It a v ery creditable roadw ay. W e are still affected b y th e financial depression, b u t th e Im provem ents heretofore constructed will show a gross Increase In o u r Income over la st year. W e have done very little w ork on th e construction of th e C anton R R . during th e year, b u t th e bran ch ru n n in g from our connection w ith th e P ennsylvania R R . n e ar B ay View is o p eratin g w ith q u ite a large busi ness ahead of It. All Im proved p ro p e rty Is rented o u t e xcept th e building on Lakew ood A ve., In w hich we have now established a storage business. R E S U L T S F O R Y E A R S E N D I N G M A Y 31. 1909. $ 5 0 ,9 1 0 1 1 ,9 2 3 53 3 8 9 1 ,3 7 4 1908. $ 4 9 ,7 6 5 1 3 ,1 4 5 4 1 ,1 3 3 1 ,2 0 5 W h arfage, storage and w areh ou se .................... I n t e r e s t ________________ 1907. $ 5 0 ,7 6 5 1 3 ,3 8 1 3 7 ,0 8 7 2 ,9 9 6 1906. $ 4 9 ,2 4 0 1 3 ,4 3 4 3 6 ,5 3 5 3 ,3 5 1 2 ,3 3 5 5 ,9 6 7 6 ,0 9 4 4 ,9 3 2 7 ,6 7 4 2 ,6 2 7 3 ,4 9 1 1 ,1 0 8 S u n d ry e x p . r e fu n d e d .. In co m e fro m — G round re n ts --------------F arm an d lot re n ts ------W harf re n ts ....... .............H ouse r e n t s . ..................... Sales of sand and gravel, privileges, &c---------- P erm an en t lm provem ’ts r e f u n d e d ____ ______ S ales of real e s ta te -------Sales of an n u itie s......... - 1 ,3 8 7 1 ,5 7 2 2 ,5 1 6 2 ,1 2 1 720 1 ,1 0 5 1 ,1 4 6 523 300 5 5 ,0 8 1 1 ,5 0 0 2 2 0 ,0 8 5 3 ,6 2 9 2 5 ,5 4 5 1 7 4 ,2 2 6 2 ,9 2 1 6 7 ,5 3 9 5 ,1 5 5 T o tal Income_______ _ $ 1 8 5 ,7 3 8 $ 3 4 4 ,6 3 0 $ 3 1 9 ,0 4 8 $ 1 8 1 ,5 2 3 1008. D ed u ctio n s — P e r m a n e n t lm p t s . a c c t . , n e w b l d g s ., g r a d in g $ 6 1 ,6 3 5 a n d C a n to n R K . C o . . 514 R o a d s , s tr e e t s & s e w e r s . 1 ,2 6 3 S u n d r y e x p . & r e p a ir s . 2 4 ,7 2 6 S“ a la r 'ie s , o f fic e e x p ., &c f ----------2 6 ,3----92 S t a te , c ity & co . t a x e s . . D i v i d e n d s -----------------------(3 % ) 6 7 ,4 7 6 C a n c e le d s t o c k --------------------- 1907. 1006. 1905. $ 1 4 3 ,7 1 0 1 ,4 9 6 1 2 ,2 9 1 2 4 ,0 8 0 2 5 ,4 3 4 (2 yi) 5 7 ,2 8 0 3 4 ,0 9 5 $ 1 5 9 ,5 2 2 919 6 ,0 0 8 2 8 ,2 9 6 2 5 ,3 3 3 (2 ^ )5 1 ,5 5 2 ............... $ 7 6 ,6 0 6 1 ,4 6 9 8 ,5 4 7 2 2 ,4 5 8 2 5 ,3 6 1 (2 > 4 )5 1 ,5 5 2 .............. T o t a l d e d u c t i o n s ------B a la n c e , s u r p lu s fo r y e a r B a la n c e In b a n k , b e g in n in g o f y e a r ----------------- $ 1 8 2 ,0 0 6 $ 3 ,7 3 2 $298,386 $46,244 $271,630 $47,418 $185,992 d e f.$4,469 1 4 5 ,7 1 5 9 9 ,4 7 1 5 2 ,0 5 3 5 6 ,5 2 2 B a l. In b a n k , e n d o f y r . — V . 8 7 , p . 1661. $ 1 4 9 ,4 4 7 $ 1 4 5 ,7 1 5 $ 9 9 ,4 7 1 $ 5 2 ,5 J 5 G ENERAL I N V E S T M E N T N EW S.. RAILROADS, INCLUDING ELECTRIC ROADS. Ann Arbor RR.—Acquisition.—The c o m p a n y h a s a cq u ired th e M a n istiq u e & N o r th e r n ( la t e ly r e o r g a n iz e d ), e x te n d in g fr o m M a n istiq u e, M ic h ., o n L a k e M ich ig a n to S h in g le to n , 4 0 m ile s, w ith b r a n c h t o M c N e il’s , 13 m ile s . M ost o f th e s to c k o f th e p r e d e ce sso r c o m p a n y w a s o w n e d b y th e G ran d R a p id s & I n d ia n a .— V . 8 7 , p . 1 2 9 9 . Asheville (N. C.) Electric Co.— New Bonds.— T h e c o m p a n y , h a s filed fo r r eco rd a m o r tg a g e to t h e O ld C o lon y T r u st C o ., t r u s te e , to se c u r e n o t e x c e e d in g $ 3 ,5 0 0 ,0 0 0 5 % b o n d s d u e J u ly 1 1 9 3 9 . T h e r e a re n o w o u ts ta n d in g $ 7 5 0 ,0 0 0 first m o r tg a g e 5 s , d u e in 1 9 4 1 , to r etire w h ic h th e sa m e a m o u n t o f n e w b o n d s w ill be r e s e r v e d . T h e c o m p a n y is p r e p a r in g to e x t e n d it s g a s a n d e le c tr ic p la n t s . C om p are p a g e 7 , “ E le c tr ic R a ilw a y S e c t io n .” Baltimore & Ohio RR.— Neiv Rolling Stock, &c.— T h e c o m p a n y h a s p la c e d o rd ers for 2 7 ,2 5 0 to n s of s te e l r a ils , a s follow s: B e t h le h e m S t e e l C o ., 2 ,0 0 0 ; M a ry la n d S te e l C o. (P e n n s y l v a n ia S te e l C o .), 1 0 ,2 5 0 ; C arn eg ie a n d I llin o is S te e l C os. ( U . S . S te e l C o r p o r a tio n ), 1 5 ,0 0 0 . C o n tra c ts h a v e a lso b een le t fo r a ll-s te e l or stc e l-u n d c r fr a m c c a rs t o a t o t a l of a b o u t $ 6 ,5 0 0 ,0 0 0 , a n d fu r th e r c o n tr a c ts a r e p e n d in g a s follow s: Closed C ontracts. — 1 ,0 0 0 c o m p o s it e g o n d o la c a r s, 1 ,0 0 0 c o k e ca r s o f 1 0 0 0 0 0 lb s . c a p a c it y a n d 6 0 0 a ll- s t e e l h o p p e r c a r s o f lik e c a p a c it y w it h S t a n d a r d S t e e l C ar C o. of B u tle r , P a .; 1 ,0 0 0 a ll- s t e e l c o k e ca rs o f 1 0 0 ,0 0 0 l b s . c a p a c it y w i t h C a m b r ia S t e e l C o . o f J o h n s t o w n , P a .; 4 5 0 p a s s e n g e r c o a c h e s a n d 5 c o m b in e d p a s s e n g e r a n d b a g g a g e c a t s w it h A m e r ic a n Car & F o u n d r y C o.; 10 b a g g a g e c a r s, 5 c a fe a n d p a r lo r c a r s a n d a ll- s te e l p o s ta l c a r s w it h B a r n e y & S m it h Car C o . o f D a y t o n , O . C C o n t r a c t s P e n d i n g . — 1 ,0 0 0 b o x c a r s, 5 0 0 r e fr ig e r a to r c a r s a n d 5 0 0 v e n t ila t e d c a r s , 6 0 l o c o m o t iv e s a n d 2 e le c t r ic l o c o m o t iv e s . V . 8 9 , p. 102. Berkshire (Mass.) Street Ry.— Mortgage.— T h e M assa c h u s e t t s R a ilro a d C o m m issio n o n A u g . 4 a u th o r iz e d t h e co m p a n y to issu e n o t e x c e e d in g $ 1 9 0 ,0 0 0 2 0 -y e a r 5% d e b e n tu re b o n d s .— V . 8 6 , p . 1 0 9 9 . Central RR. of New Jersey.—Dividend Prospects, &c.— T h e a d v a n c e in th e p r ice o f th e s t o c k fr o m 2 1 5 m F eb ru a ry la s t to o v e r 3 0 0 is c o m m o n ly a tt r ib u t e d to th e c ir cu m sta n ce t h a t , w ith th e e a rn in g s r u n n in g c o n s id e r a b ly a h e a d of th e 8 % d iv id e n d c h a r g e , t h e r a te of d iv id e n d s is lik e ly to be in c r e a se d , a n d p o s s ib ly a n e x tr a d is tr ib u tio n b e m a d e to th e sh a r e h o ld e r s. A n e x c h a n g e o n A u g . 7 sa id . I n c o n n e c tio n w i t h t h e a d v a n c e in J e r s e y C e n tr a l s t o c k , w h ic h h a s g a in e d 2 4 o X t s t h is w e e k . It w a s le a r n e d fr o m t r u s t w o r t h y s o u r c e s y e s te r d a y t h a f t h e m a n a g e m e n t o f t h e r o a d I n te n d s t o In crea se th e d is b u r s e m e n t to s t o c k h o l d e r ? b u t h a s n o t y e t d e c id e d j u s t w h e n d e f in it e a c tio n In t h a t w iii h e t a k e n I t Is b e l ie v e d , h o w e v e r , t h a t t h e in c r e a se w ill be d e c la r e d b e f o ie t h T e m l o f t h e y e a r a n d t h a t It w ill b e 2 % . p la c in g th e s t o c k o n a 1 0 % -a -y e a r b a s is . T h e r e is a ls o s a id t o b e a p o s s ib ilit y t h a t a n e x t r a d is b u r s e m e n t m a y b e m a d e t o s to c k h o ld e r s . T h e R e a d in g C o m p a n y c o n t r o ls t h e C e n t r a l o f N e w J e r s e y , o w n in g $ 1 4 ,5 0 4 ,0 0 0 o f Its s t o c k — V . 88, p . 1436. _ . T h e r e h a s a lso b e e n a m a r k e d a d v a n c e in L e h ig h Coal & N a v ig a tio n sh a re s a n d r u m o r s are c u r re n t in P h ila d elp h ia th a t so m e d e a l is p e n d in g fo r th e a c q u is itio n of t h a t c o m p a n y b y th e C en tra l R R . o f N e w J e r s e y . T h e “ P h ila d e lp h ia F in a n c ia l B u lle t in ” s a y s t h a t th is r e p o r t fin d s m a n y su p p o r te r s, a lth o u g h la rg e in te r e s ts in b o th c o m p a n ie s p rofess to b e ig n o r a n t o f a n y n e g o t ia t io n s .— V . 8 8 , p . 143 6 . Charlotte Monroe & Columbia R R — Application for Re ceiver — T h e B a n k o f R ic h m o n d , a s t r u s te e for th e m o r tg a g e to se c u r e a n issu e o f $ 7 0 ,0 0 0 b o n d s , h a s o b ta in e d a n order to sh o w c a u se , r e tu r n a b le t o - d a y , w h y a r e c eiv e r sh o u ld n o t b e o b ta in e d for th is 2 2 -m ile r o a d . Tt f<$ niiPfrpH t h a t th e comDciny lia s d e f a u lt e d In th e p ay m en t of taxes and In the3perform ance o f otheT c o v e n a n t s of th e m ortgage d c e d . - V . 7 5 . p . 1030. Chicago Great Western Ry.— Listed.— 1T h e N e w Y ork S to c k E x c h a n g e h a s lis te d J . P • M organ & C o. s c er tific a tes o f d e p o s it for $ 2 7 ,6 3 9 ,0 0 0 d e b e n tu r e s t o c k , $ 1 0 ,6 2 7 ,4 0 0 p referred A s t o c k , $ 2 1 ,6 4 8 ,3 0 0 p referred B s to c k a n d $ 3 4 ,5 0 5 ,2 0 0 c o m m o n s t o c k , a n d h a s a u th o r iz e d a d d itio n a l a m o u n ts of sa id c e r tific a te s to b e lis te d fro m tim e to tim e p rior to S e p t . 21 1909 o n o ffic ia l n o tic e of issu a n c e u n d e r th e r e o r g a n iz a tio n p la n d a te d J u n e 1 st la s t . I t w a s o ffic ia lly a n n o u n c e d o n T h u r s d a y th a t S a m u el M. F e lt o n , n o w P r e s id e n t o f th e C h ica g o & A lto n , w o u ld b e c o m e P r e sid e n t o f t h e c o m p a n y w h e n t h e r eo r g a n iz a tio n is c o m p le t e d .— V . 8 9 , p . 3 4 7 , 2 8 5 . ^ Cincinnati Hamilton & Dayton Ry-— Stockholders Approve Plan.— A t th e m e e tin g of sh a r e h o ld e r s o n A u g . 10 th e p en d in g p la n of r e a d ju s tm e n t (V . 8 8 , p . 14 3 6 , 1498) a n d th e d iffe r e n t in d e n tu r e s c o n t e m p la t e d th e r e b y w ere a p p ro v e d a n d a u th o r iz e d b y t h e a ffir m a tiv e v o t e of 1 4 6 ,8 3 5 sh a res o f s t o c k o u t o f a to ta l o f 1 6 0 ,0 0 0 sh a r e s o u ts ta n d in g . N o a d v e r s e v o t e s w e re c a s t . T h e d ir e c to r s w e re e m p o w ered to ta k e su c h fu r th e r a c tio n a s t h e y m a y d e e m n e c essa ry to ca rry th e p la n in to e ffe c t. T h e s to c k h o ld e r s of th e B a lti m o re & O hio a lso o n A u g . 10 a p p r o v e d t h e s te p s ta k e n to acquire c o n tr o l. S e c r e ta r y T h o m a s J. W a lsh sa y s: T h e a c t i o n o f t h e s to c k h o ld e r s , w h ile a n e c e s s a r y s t e p in t h e c o n s u m m a t lo n o f t h e p la n , Is n o t t h e lln a l s t e p a n d d o e s n o t n e c e s s a r ily in s u r e t h e e x e c u t i o n o f t h e p la n , w h ic h w ill a w a it f u r th e r d e p o s its o f n o te s fo r m in g p a r t o f t h e $ 1 5 ,0 0 0 ,0 0 0 s e r ie s is s u e d in 1 9 0 5 . A s s o o n a s t h is is p u t in to e x e c u t i o n t h e c o n tr o l o f t h e p r o p e r ty w ill t h e n p a s s t o t h e B a lt im o r e & O h io R R . C o ., b u t o p e r a tio n s w ill c o n t in u e a s b e fo re in t h e n a m e o f t h e C in c in n a t i H a m ilt o n & D a y t o n R R . C o .— V . 8 9 , p . 84 8, 2 2 9 . Cleveland Barberton Coshocton & Zanesville (Electric) Ry. — Mortgage for Projected Road.— T h is c o m p a n y , w h ic h c o n te m p la te s b u ild in g 190 m ile s o f tr o lle y tr a c k , in c lu d in g m a in lin e fr o m C le v ela n d to Z a n e sv ille a n d b r a n c h e s to E ly r ia , R it t m a n , M illersb u rg a n d C a m b rid g e, a ll, it is s a id , e x c e p t 12 m ile s , o n p r iv a te r ig h t o f w a y , h a s filed a m o r tg a g e to t h e W in d so r T r u st C o. of N e w Y o r k a s t r u s te e to s e c u r e a n issu e o f $ 6 ,0 0 0 ,0 0 0 b o n d s . T h e o ffic e r s a re J . J . B r e itin g e r , P resid en t; W . E . B r o o k s, E ly r ia , O ., V ic e -P r e sid e n t; J . H a rr y K in s le y J r ., S e c r e ta r y , a n d B . E . O ttm a n , T r ea su r er . Columbia Power, Light & Railways, Bloomsburg, Pa.— — T h is c o m p a n y , in c o rp o ra te d u n d e r th e la w s o f D e la w a r e w ith $ 1 ,2 5 0 ,0 0 0 o f c a p ita l s t o c k , h a s p u rc h a sed th e c a p ita l s t o c k , a n d in so m e c a se s th e o u t s t a n d in g b o n d s , of th e fo llo w in g c o m p a n ie s , o w n in g th e e le c tr ic lig h tin g a n d g a s p r o p e r tie s o f D a n v ille , B lo o m sb u rg a n d B e r w ic k a n d t h e e le c tr ic r a ilw a y s c o n n e c tin g th e se t o w n s , v iz .: B e r w ic k E le c tr ic L ig h t C o . ( c a p it a liz a tio n $ 8 0 ,0 0 0 c a c ti o f s t o c k a n d b o n d s ) , W e s t B e r w ic k E le c tr ic L ig h t C o ., C o lu m b ia & M o n to u r E le c t r ic R a ilw a y C o. (c a p it a liz a tio n $ 3 7 5 ,0 0 0 e a c h o f s t o c k a n d fir s t m t g e . 5 s ) , s e e “ E le c tr ic R a ilw a y S e c t i o n " ) , D a n v ille & B lo o m s b u r g S t . R y . C o ., I r o n d a le L ig h t H e a t & P o w e r C o ., U n it e d C.as & E le c tr ic C o ., B lo o m sb u r g ( a u th . s t o c k $ 3 0 0 ,0 0 0 , b o n d s $ 5 0 ,0 0 0 , V . 8 4 , p . 2 7 5 ) , S t a n d a r d E le c tr ic L ig h t C o. a n d S t a n d a r d G a s C o ., D a n v ille , N e s c o p e c k E le c tr ic L ig h t H e a t & P o w e r C o . T h e p o w e r fo r o p e r a tio n o f t h e c o m p a n y ’s h o ld in g s w i l l c o m e fro m th e p la n t o f t h e H a r w o o d E le c tr ic P o w e r C o . (se e t h a t c o m n a n v b e lo w ) , a t L a t t im e r M in e s , L u z e r n e C o u n ty . _ T h e o ffic e r s a n d d ir e c to r s o f t h e n e w c o m p a n y a r e : O ffic e r s , E . R . SD O nsler, H a r r is b u r g , P r e s id e n t; M y ro n I . L o w , B lo o m sb u r g , V ic e -P r e s i d e n t - A W . D u y , B lo o m sb u r g S e c r e ta r y ; a n d T r e a s u r e r , M . M llle ls e n , B lo o m s b u r g . D ir e c to r s ; W illia m F . L o w r y , B e r w ic k ; C h a rle s M . C r c v e lln g . B lo o m sb u r g ; M . 1. L o w . B lo o m sb u r g ; A . W . D u y , B lo o m sb u r g ; R . H . K o c h , P o t ts v ille - W illia m C. B lllm a n , R e a d in g ; R . S c o t t A m m e r m a n , D a n v ille ; B . F . M e y er s, H a r r is b u r g , P . R . B e v a n . W ilk e s -B a r r e . Copper River & Northwestern R y., Alaska.— Mortgage Filed.— T h is c o m p a n y , in c o r p o r a te d u n d e r th e la w s o f N e v a d a w ith $ 2 5 0 ,0 0 0 o f a u th o r iz e d c a p ita l s t o c k , w h ic h h a s s in c e b een in c r e a se d to $ 5 ,0 0 0 ,0 0 0 , p a r of sh a re s $ 1 0 0 , to b u ild a sta n d a r d g a u g e r a ilro a d fr o m tid e w a te r te r m in a l a t C o r d o v a , A la sk a , th r o u g h th e .C opper R iv e r V a lle y , to th e in te rio r of A la sk a , th e im m e d ia te p u rp o se b e in g to reach th e c o p p e r field s n ear th e C h itin a R iv e r a n d th e B e h r in g L a k e c o a l field s, & c ., h a s filed a t C o r d o v a , A la sk a , a m o r t g a g e in fa v o r o f th e S ta n d a r d T r u st C o ., N e w Y o r k , tr u s te e , to se c u r e n o t e x c e e d in g $ 5 0 ,0 0 0 ,0 0 0 5% 5 0 -y e a r b o n d s . T h e road is u n d e r s to o d to b e c o n tr o lle d b y J . P . M organ & C o. a n d th e A m e ric a n S m e ltin g & R e fin in g (G u g g e n h e im ) in te r e s ts . T h e c o m p a n y h a s o p e n e d fo r r e g u la r b u s in e s s 8 0 m ile s o f t r a c k ( c h ie f ly 7 0 - lb . ra ils) r u n n in g in la n d fr o m C o r d o v a , A la s k a , a n d a t o t a l o f 2 0 0 m ile s Is e x p e c t e d t o be In o p e r a tio n a y e a r fr o m th e c o m in g f a ll, r e a c h in g th e j u n c tio n o f t h e C h itin a a n d C o p p e r r iv e r s . A 5 8 -m ilc b r a n c h Is a ls o t o b e b u ilt n e x t y e a r to K a ta lia a n d t h e c o a l H elds. T r a c k - la y in g s h o u ld be c o m p le te d t o th e T ic k e l R iv e r in O c to b e r . A t p r e s e n t 4 ,0 0 0 m e n a r e a t w o r k o n t h e c o n s tr u c t io n o f th e r o a d . T h e g r e a te s t w o r k y e t to be a c c o m p lis h e d Is t h e c o n s tr u c t io n o f th e $ 1 ,0 0 0 ,0 0 0 c a n t ile v e r b r id g e a c r o ss t h e c h a n n e l o f t h e C o p p e r R iv e r b e t w e e n M iles a n d C h ild s g la c ie r s . B o t ii t h e s e g la c ie r s a r e a c t i v e a n d d is c h a r g e h u g e Iloes o f ice w h ic h d r ift d o w n t h e r iv e r . T h e b r id g e w ill b e m o re t h a n 1 ,8 0 0 f e e t lo n g . . O ffic e r s - P r e s id e n t, S . W . E c c le s ( V ic e -P r e s id e n t A m e r ic a n S m e lt in g & R e lln in g C o ); V lc e -P r e s , W . P . H a m ilt o n , o f t h e firm o f J . P . M o r g a n & C o - S e c ., W . E . B e n n e t t (S e c r e ta r y a n d d ir e c to r o f N e v a d a C o n s o lid a te d C o p p e r C o .) . O ffic e , 165 B r o a d w a y . D ir e cto r s: S . W . E c c le s , W . P . H a m ilt o n , E . S . P e g r a n , W . B . H o r n . H . G . C u rrier, A . H . G illa r d , J . P . M a c g o w a n . W . S p r o u le , S t e v e n B u r c h , J o h n M . S t e e le , W . E . B e n n e t t , D . H . J a r v is , W . I I . B o g le . M . R o b e r t G u g g e n h e im a n d W . R . R u s t . Des Moines (la.) Railway & Light Co.— Incorporated.— T h is c o m p a n y h a s b e e n in c o rp o ra te d u n d e r th e la w s ot M ain e w ith n o m in a l ( $ 1 0 0 ,0 0 0 ) c a p ita l s to c k in $ 1 0 0 s h a r e s, e v id e n t ly for th e p u rp o se o f b r in g in g u n d e r o n e h e a d th e D e s M oin es C ity R y . a n d th e D e s M oin es E le c tr ic C o ., b o th o f w h ic h r e c e n tly p a s se d u n d e r th e c o n ti ol o f W illia m B . M c K in le y of C h a m p a ig n , 111., a n d a s s o c ia te s . C om p a re V. 89, p. 224. Duluth South Shore & Atlantic R y.— Report.—'T h e r e s u lts for th e fiscal y e a r e n d in g J u n e 30 w ere: n rn st io d s n fT *2 7 19 3 3 8 l S o T = o l .............. : : : 52.’9 2 1 .9 1 6 — V. 88, p . 822. N et $739 820 7 i 5 ,7 0 1 o th .l n c . I n t.,T a x e s ,& c . lia l.D e f. $ 2 1 2 ,4 5 7 9 5 ,4 4 8 $ 1 ,1 8 2 ,3 0 5 1 ,1 6 7 ,8 1 0 $ 2 3 0 ,0 2 8 3 5 6 .6 6 1 Evansville & Indianapolis RR- Maturing Bonds. 1h e $ 2 5 1 ,0 0 0 T erre H a u te & S o u th e a s te r n R R . Co. first m o r tg a g e 7% b o n d s , m a tu r in g S e p t . 1 1 9 0 9 , to g e th e r w ith c o u p o n s o f S e p t . 1, w ill b e p a id o n or a fte r t h a t d a te a t th e f a r m e r s L o a n & T r u st C o ., 22 W illia m St., N e w Y o rk C ity . S e e V . 8 9 , p . 103. Evansville Railways.— Strike Ended, i h c str ik e o f th e c a r -m e n w h ic h b e g a n a b o u t M ay 2 0 la s t w a s d e c la r ed off o n A u g . 6 . T h e te r m s of th e s e t t le m e n t h a v e n o t b e e n m a d e p u b lic .— V . 8 8 , p . 5 0 5 . Right to Issue Georgia Railway & Electric Co., Atlanta. New Bonds.—T h e “ r e fu n d in g a n d im p r o v e m e n t m o r tg a g e ” d a te d J a n . I 1 9 0 9 , A m erica n T r u st Go o f B o s to n tr u s te e , a u th o r iz e s th e issu e of n o t e x c e e d in g $ 2 0 0 0 0 0 0 0 sin k in g fu n d g o ld b o n d s d a te d J a n . 1 19 0 9 a n d d u e J a n . 1 1 9 4 9 , b u t s u b je c t to p rior r e d e m p tio n a t 105 a n d in te r e s t. P a l’ $1 0 0 0 I n te r e s t J . <fe J . T h e se b o n d s are issu a b le a s f o llo w s : I s s u a b le ' f o r t h w it h HsiStCws t (o f w h ic h $ 1 ,0 0 0 ,0 0 0 a l r e a d y 2 5 Oi 0 0O *5 980 000 1 c o n s o ls d X d A p ril 1 1902; $ 1 ,3 5 0 ,0 0 0 G eo r g ia E le c tr ic L ig h t C o l s t M 5 s , d a t e d 1900; $ 2 ,1 2 5 ,0 0 0 A t la n ta r o n s o l S t R v 1 s t c o n s o l . 5 s , d a t e d 1899; $ 2 2 5 ,0 0 0 A t la n ta S ? R R 6 s d a t e d 18 9 0 $ 4 0 0 , 0 0 0 A t la n ta N o r th e r n R y . 1 st M. nnn I s d a t e d 1 9 0 4 ; $ 1 ,1 5 0 ,0 0 0 A t l. G as L t . 1 st M. 5 s , d a t e d 1 8 9 7 . . 1 1 . 2 3 0 .0 0 0 R e m a in d e r Issu a b le fr o m t im e t o t im e t o a n a m o u n t n o t e x c e e d in g 75% o f t h e a c t u a l a n d f a ir c o s t o f e x t e n s i o n s , I m p r o v e m e n t s a n d a d d it io n s (In c lu d in g b o n d s a n d s h a r e s o f s t o c k o f o t h e r c o r p o r a tio n s ), p r o v id e d t h a t n o b o n d s s h a ll b e I s su e d u n le s s t h e n e t e a r n in g s a f te r o p e r a tin g e x p e n s e s a n d t a x e s fo r t h e m o n th s n e x t p r e c e d in g s h a ll h a v e b e e n a t le a s t e q u a l to 1 h t im e s t h e I n te r e s t o n a ll o u t s t a n d in g b o n d e d d e b t , In c lu d in g t h e b o n d s p r o p o s e d t o b e I s s u e d _______ . _ 7 ,5 2 0 ,0 0 0 C om pare V . 8 8 , p . 56 0 , 1196. 12 Greensboro (N. 0.) Electric Co.—Consolidation Plan.— S e e N o . C aro lin a P u b lic S e r v ic e C o. in V .8 8 , 1 1 2 8 .— V .8 1 ,p . 777 Hocking Valley R y.— Annual Statement.— S e e “ A n n u a l R e p o r ts ” o n a p r e c e d in g p a g e . Pier ease in Dividends from, Holdings.— S e e T o le d o & O h io C en tra l R y . b e lo w .— V . 8 9 , p . 2 8 6 , 4 1 . Idaho & Washington Northern R R .—Bonds Offered.— P e a b o d y , H o u g h te lin g & C o ., C h ic a g o , a re offerin g a t 95 a n d in te r e s t, y ie ld in g th e in v e s to r 5% % , th e u n so ld p o r tio n o f th e p r e se n t issu e o f $ 3 ,0 9 0 ,0 0 0 first m o r tg a g e g o ld 5 % sin k in g fu n d b o n d s o f $ 1 ,0 0 0 e a ch ( c * ), d a te d M ay 1 1907 a n d d u e M ay 1 1 9 3 2 , b u t r e d e e m a b le o n N o v . 1 1912 a n d o n in te r e s t d a te s th e r e a fte r , b u t p rior to N o v . 1 1 9 1 7 , a t 107 a n d in te re st; r e d e e m a b le o n N o v . 1 1917 a n d o n in te r e s t d a te s th e r e a fte r a t 105 a n d in te r e s t. P r in c ip a l a n d s e m i-a n n u a l in te r e s t p a y a b le a t o ffic e o f tr u s te e , t h e I llin o is T r u st & S a v in g s B a n k , C h ic a g o . A n n u a l s in k in g f u n d 2 ^ % of t h e g r o ss e a r n in g s, b e g in n in g w ith th e c a le n d a r y e a r 1 9 1 3 , to b e in v e s t e d in in c o m e -p r o d u c in g se c u r itie s a p p r o v e d b y th e tr u s te e or a p p lie d to r e d e m p tio n o f th e b o n d s a t th e p r e m iu m s a b o v e s t a t e d . A circu lar s a y s in su b s ta n c e : T h e s e b o n d s a r e s e c u r e d b y a n a b s o lu t e llr s t m o r t g a g e o n a ll p r o p e r ty n o w o w n e d o r h e r e a fte r a c q u ir e d , c o n s is t in g o f 1 0 3 m ile s o f m a in lin e , 51 m ile s o f w h ic h a r e In a c t u a l o p e r a tio n a n d 52 m ile s u n d e r c o n s tr u c t io n , t o g e t h e r w it h r o llin g s t o c k , t e r m in a ls , & c ., p r a c t ic a lly s u f fic ie n t fo r th e e n t ir e r a ilr o a d . T h e s to c k h o ld e r s h a v e a n a c t u a l c a s h I n v e s tm e n t o f o v e r S I , 0 0 0 ,0 0 0 b e h in d t h e b o n d s , a n d t h is c a s h e q u i t y w ill b e s t e a d ily in c r e a se d a s a d d it io n a l m ile a g e Is c o m p le t e d . D is p o sitio n o f B o n d s — ' ‘T o ta l A u th o rize d Is su e , S 4 ,7 3 3 ,0 0 0 .” $ 1 ,5 3 0 ,0 0 0 I s s u e d a g a in s t t h e p r e s e n t p r o p e r t y _________________ T o b e I ssu ed In b lo c k s o f $ 3 0 0 ,0 0 0 a t $ 3 0 ,0 0 0 p e r m ile o n 52 "miles or i u i i y e q u ip p e d a d d it io n a l m a in lin e n o w In c o u r s e o f c o n s tr ’n 1 ,5 6 0 ,0 0 0 R e s e r v e d fo r f u tu r e c o n s tr u c t io n a t $ 3 0 ,0 0 0 p e r m ile o f e q u ip p e d m a in lin e , s u b j e c t , h o w e v e r , t o a p p r o v a l o f P e a b o d y , H o u g h t e l l n g & C o ----------------------------------------------------------------___________ . . . 1 ,6 4 3 ,0 0 0 E a r n in g s fo r Y e a r E n d in g J u n e 3 0 1 9 0 9 . [Being the first year, with only one-half of mileage In operation and In spite of the business depression, a severe winter, &c.] Gross e a r n in g s ---------------------- $ 2 9 4 ,0 1 8 I N e t e a r n in g s ______ $ 8 8 ,2 0 5 O p e r a t in g e x p e n s e s ________ 2 0 5 ,8 1 3 ] B o n d I n te r e s t . 7 6 ,5 0 0 O p e r a t in g e x p e n s e s a r e h e r e e s t im a t e d a t t h e h ig h r a tio o f 7 0 % , b e c a u s e It h a s b e e n I m p o ss ib le t o d ltf e r e n tla te e x a c t l y b e t w e e n c o n s tr u c t io n a n d o p e r a t in g c h a r g e s. T h e p o r t io n o f t h e lin e n o w u n d e r c o n s tr u c t io n w ll n o t o n ly t r a v e r s e a r ic h e r c o u n t r y , b u t it w ill b e e x e m p t fr o m c o m p e titio n " E s tim a te o f E a r n in g s fo r the Y ears E n d in g J u n e 3 0 1 9 1 0 a n d 1 9 1 1 . , „ Z ? a. rr ~ A v - M i i eaoe. A v .B d s .O u t'g . Gross E a r n s . N et E a r n s . B o n d I n t. 1 9 0 9 - 1 0 ------------ 8 5 $ 2 ,5 5 0 ,0 0 0 $ 5 7 2 ,5 0 0 $ 1 7 1 ,7 5 0 $ 1 2 7 ,5 0 0 1 9 1 0 - 1 1 ------------103 3 ,0 9 0 ,0 0 0 9 1 0 ,0 0 0 3 1 8 ,5 0 0 1 5 4 ,5 0 0 F r o m t h a t t im e o n t h e In c r ea se in g r o s s e a r n in g s w ill b e r a p id a n d t h e o p e r a t in g r a tio s h o u ld s t e a d i l y d e c r e a s e . T h e p r o p e r ty Is o f t h e m o s t s u b s t a n tia l c h a r a c te r ; 2 ,8 8 0 t ic s t o t h e m ile , 7 5 - lb . s t e e l o n m a in lin e , 7 0 -lb . s t e e l o n b r a n c h lin e s , & c.; t ie - p la t e s o n c u r v e s , c o r r u g a te d m e t a l c u lv e r ts ; b a lla s t , 12 t o 18 in c h e s o f g r a v e l. S e v e n B a ld w in lo c o m o t iv e s ( tw o b e in g 2 5 0 - to n c o n s o lid a t io n ) a n d t w o g e a r e d lo c o m o t iv e s fo r c o n s tr u c t io n a n d lo g g in g ; 2 5 b o x c a r s, 1 0 0 fia t ca rs a n d 12 r e fr ig e r a t o r c a r s o f 8 0 ,0 0 0 lb s . c a p a c it y , 2 5 s t e e l g o n d o la s o f 1 0 0 ,0 0 0 lb s . c a p a c it y , s te e l - l o g g in g c a r s, c a b o o s e s , s t e a m s h o v e ls , s t e a m lo a d e r s , & c.; 56 c a r s b u ild in g o r u n d e r c o n t r a c t . N in e c a r s in p a s s e n g e r s e r v ic e b u ilt b y P u llm a n C o. T h e s h o p s , lo c a t e d a t S p ir it L a k e , I d a h o , th e h e a d q u a r t e r s o f t h e r a ilr o a d , c o s t n e a r ly $ 2 5 0 ,0 0 0 . P a s s e n g e r d e p o t s , m o d e r n b r ic k b u ild in g s ; f r e ig h t d e p o t s , c o m m o d io u s . I h e r o a d e x t e n d s fr o m S p o k a n e , W a s h ., t o t h e t o w n o f N e w p o r t, W a s h ., a n d is a t p r e s e n t u n d e r c o n s tr u c t io n fr o m N e w p o r t t o l o n e . W a s h ., th r o u g h t h e V a lle y o f t h e P e n d d ’O re llle R iv e r , a t o t a l d is t a n c e o f 12 5 m ile s . U n d e r r a v o r a b le c o n t r a c t s It u s e s t h e p a s s e n g e r d e p o t o f t h e O re g o n R R . & N a v . a n ,d ,t h c freig h t* t e r m in a ls o f t h e C a n a d ia n P a c ific R y . a n d J u {l c t l o » . a d is ta n c e o f 2 2 m ile s . I t s o w n m a in lin e TjuncS \L°Hn M c G u ir e s, I d a h o , o n t h e I n la n d E m p ir e S y s t e m , t o l o n e , tX ui u.Vtfion * r° m , b p o k a n e t o N e w p o r t t h e r o a d p a s s e s t h r o u g h a w e l l- s e t t le d a n d f e r t ile Ir rig a ted s e c t io n , w h e r e a la r g e a n d r a p id ly In c r ea s in g t o n n a g e o f a g r ic u lt u r a l p r o d u c t s is g r a d u a lly t a k in g t h e p la c e o f lo g s a n d lu m b e r B e t w e e n .S p o k a n e a n d t h e P e n d d ’O r e llle R iv e r a r e t h e p r o sp e r o u r t o w n s o f R a t h d n im , S p ir it L a k e a n d N e w p o r t , a ll w e ll e s ta b lis h e d a n d g r o w in g r a p id ly . A t S p ir it L a k e a r e t h e la r g e m ills o f t h e P a n H a n d le L u m b e r C o. h r o m N e w p o r t t o l o n e t h e r a ilr o a d o p e n s u p a n e w a n d r ic h c o u n t r y , a b o u n d in g n t fm b e r , a g r ic u ltu r a l a n d m ih e r a l w e a lt h , a ll o f th e t r a f f ic fr o m w h ic h w ill be c o n t r o lle d b y t h is r a ilr o a d F . A . B la c k w e ll a n d h is a s s o c ia t e s , w h o b u ilt t h e C o e u r d ’A le n e & S p o k a n e R y . , w h ic h h a s b e e n s o e m in e n t ly s u c c e s s f u l, a r e t h e o w n e r s a n d m a n a g e r s o f t h e I d a h o & W a s h in g to n N o r t h e r n R R . — v . 8 7 , p . 1 1 6 0 . Kanawha & Michigan Ry. — Report.— F o r y e a r e n d in g J u n e 30: F isc a l .Xfar O perating N e t O per. — R evenue. R evenue. J 9 0 « - ° 9 - - $ 2 ,1 2 7 ,6 3 7 $ 3 9 6 ,1 1 5 1 9 0 7 - 0 8 . _ 2 ,0 2 2 ,9 3 8 3 1 4 ,2 9 9 — V . 8 8, p . 1500. T a xes P a id . $ 8 0 ,0 9 3 7 9 ,4 2 9 O ther In co m e. $ 100,011 1 0 3 ,3 5 0 F ix e d C harges. B a la n ce, S u r p lu s . $ 2 7 9 ,9 8 3 2 6 9 ,8 3 7 $ 1 3 6 ,0 4 9 1 2 8 ,3 9 1 Louisville & Nashville RR.—Bonds Listed .— T h e N e w Y o rk S to c k E x c h a n g e h a s lis te d $ 1 8 ,2 0 0 ,0 0 0 a d d itio n a l u n ified $ 5 o , <b 2 ,0 0 0 . b on d s> duc 1 9 4 0 ’ m a k in S th o t o ta l lis te d E x p e n d itu re s A ggregating $ 1 8 ,1 9 9 ,7 5 1 , fo r W hich the B o n d s W ere Is su e d . T h e m o r t g a g e c o v e r s t h e e n t ir e p r o p e r ty o f t h e c o m p a n y o f e v e r y k in d a n d d e s c r ip t io n . T h e p r o t e s t o f t h e t r u s t c o m p a n y a p p a r e n t ly c o n t e m p l a t c s a d is r u p t io n o f t h is s y s t e m a n d t h e f u tu r e a p p r o p r ia tio n o f t h e v a r io u s e n u m e r a t e d p a r c e ls o f r e a l e s t a t e t o g e n e r a l c o m m e r c ia l p u r p o s e s . It does n o t s e e m t h a t e it h e r t h e r e c e iv e r s o r c o u r t c a n n o w a c t o n s u c h a n a s s u m p t io n . — V . 8 8 , p . 1 5 6 0 . Mobile Jackson & Kansas City RR.— Sale Aug. 2 3 .— T h is p r o p e r ty is a d v e r t is e d to b e so ld u n d e r fo r ec lo su r e a t M obile o n A u g . 2 3 , a s ord ered b y th e U n ite d S t a t e s D is tr ic t C ou rt a t M erid ian , M iss. W h e n b id in , th e r o a d w ill b e tu r n e d o v e r to t h e s u c c e s s o r c o m p a n y , th e N e w O rlean s M ob ile & C hi c a g o , p er p la n in V . 8 7 , p . 1664; V . 8 5 , p . 1 5 7 7 .— V . 8 8 , p. 1 3 7 3 . New Orleans Railway & Light Co.— Placed, in France by Bertron, Griscom & Jenks.— N e g o t ia tio n s w h ic h h a v e b e e n p e n d in g fo r s o m e t im e b e tw e e n t h e c o m p a n y a n d B e r tr o n , G risco m & J e n k s , b a n k e r s , o f N e w Y o r k a n d P h ila d e lp h ia , w e re c o n s u m m a te d o n A u g . 6 in N e w O rlea n s, a n d a c o n tr a c t sig n e d b y w h ic h t h e b a n k e r s p u r c h a s e d $ 2 ,5 8 0 ,9 0 0 4 0 -y e a r 5 % g o ld b o n d s , d a te d N o v 1 1 9 0 9 , a n d b e c a m e h e a v ily in te r e s te d in b o th t h e p referred a n d c o m m o n s t o c k s . T h is firm w ill h a v e tw o r e p r e s e n ta tiv e s o n t h e b o a r d o f d ir e c to r s, a n d fr o m n o w o n th e c o m p a n y w ill h a v e t h e b e n e fit of th e ir a s s is ta n c e , in c lu d in g th e ir la r g e a n d e x p e r ie n c e d o p e r a tin g s ta ff. B e r tr o n , G riscom & J e n k s h a v e a lr e a d y p la c e d th is e n tir e b lo c k o f b o n d s w ith a F r e n c h s y n d ic a t e h e a d e d b y t h e F r e n c h F in a n c e C o r p o r a tio n , a n d n o n e o f th e b o n d s w ill b e o ffered h e r e. I t w ill b e r em e m b e re d t h a t P r in c e A n d r e P o n ia t o w s k i is th e h e a d o f th e F r e n c h F in a n c e C o r p o r a tio n a s w e ll a s of th e B a n q u e P r iv e e , th r o u g h w h ic h w a s s o ld t h e la s t is s u e o f S t . L o u is & S a n F r a n c isc o b o n d s r e c e n tly p la c e d in t h e F r e n c h m a r k e t. A n a u t h o r it a t iv e s t a t e m e n t fo llo w s: T h e n e w m o r t g a g e w ill s e c u r e a n a u t h o r iz e d Issu e o f $ 5 0 ,0 0 0 ,0 0 0 5% 4 0 - y e a r g o ld b o n d s , o f w h ic h $ 3 0 ,0 0 0 ,0 0 0 w ill b e r e s e r v e d t o r e tir e t h e g e n e r a l m o r tg a g e 4 M % b o n d s n o w o u t s t a n d in g . T h e n e w I s su e w ill b e a fir st Hen o n a ll p r o p e r ty n o w o w n e d o r h e r e a fte r a c q u ir e d , s u b j e c t o n ly to t h e e x is t in g g e n e r a l W i % is s u e . O f t h e b a la n c e , $ 1 ,5 8 0 ,9 0 0 w ill b e u s e d t o p a y oir o n N o v . 1 1 9 0 9 a n Issu e o f o u t s t a n d in g 6 % n o t e s T h e r e m a in in g b o n d s c a n o n ly b e I ssu ed fo r t h e f o llo w in g p u r p o s e s : (a) F o r im p r o v e m e n ts a n d b e t te r m e n ts t o t h e p r o p e r tie s o f t h e r a ilw a y c o m p a n y a t 75 % o f t h e c o s t th e r e o f; (6) fo r t h e a c q u i s it io n , d o lla r fo r d o lla r , o f a d d it io n a l sh a r e s o f s t o c k s , b o n d s a n d o b lig a t io n s o f s u b s id ia r y c o m p a n ie s n o w o w n e d o r c o n t r o lle d o r h e r e a fte r a c q u ir e d o r c o n t r o lle d b y t h e r a ilw a y c o m p a n y a n d w h ic h s h a ll h a v e b e e n is s u e d b y s u c h c o m p a n ie s fo r b e t te r m e n ts a n d I m p r o v e m e n ts , n o t in e x c e s s o f 75 % o f t h e c o s t t h e r e o f a n d (c) fo r t h e a c q u is it io n o f a d d it io n a l s h a r e s o f s t o c k , b o n d s a n d o b lig a t io n s o f t h e s u b s id ia r y c o m p a n ie s n o w o w n e d o r c o n t r o lle d o r h e r e a fte r a c q u ir e d o r c o n t r o lle d b y t h e r a ilw a y c o m p a n y a t 7 5 % o f t h e p a r v a lu e t h e r e o f , s u c h s h a r e s o f s t o c k , b o n d s o r o b lig a t io n s t o b e p a id f o r a t p a r b y t h e r a ilw a y c o m p a n y . T h e b o n d s w ill b e Issu ed In r e g is te r e d a n d c o u p o n fo r m . T h e c o u p o n b o n d s w ill b e o f $ 1 ,0 0 0 a n d $ 1 0 0 d e n o m in a tio n s . T h e bond s p u rch ased b y t h e F r e n c h b a n k e r s w ill b e I ssu ed In fo r m s u it a b le f o r t h e r e q u ir e m e n ts of t h e fo r e ig n m a r k e t s .— V . 8 9 , p . 4 2 . New York Central & Hudson River RR.— Rumored Addi tional Purchases of Company’s Stock by Union Pacific RR .— S e e t h a t c o m p a n y b e lo w . Possible Bond Issue.— “ N e w Y o r k T r ib u n e ,” A u g . 10 , sa id : T h e N e w Y o r k C e n tr a l R a ilr o a d C o ., a c c o r d in g t o r e p o r ts , w ill s h o r t ly p u t o u t a la r g e is s u e o f c o n v e r tib le b o n d s t h r o u g h J . P . M o rg a n & C o . i h e a m o u n t o f t h e Is su e , It is s a id , w ill b e a b o u t $ 7 5 ,0 0 0 ,0 0 0 a n d w ill b e a r in te r e s t a t 4 % . P a r t o f t h e p r o c e e d s , It Is u n d e r s t o o d , w ill b e u s e d t o " “ *" ““ sh r ' ' ' ' ‘ c a s h , a n d It is e x p e c t e d t h a t p a r t o f t h e p r o c e e d s o f th e p r o p o s e d is s u e w ill b e u s e d fo r t h is p u r p o s e .— V . 8 9 , p . 2 8 7 , 2 2 5 . Northern Texas Electric Co., Fort Worth, Texas.—First Dividend on Common Stock.— T h e d ir ec to rs h a v e d e c la r e d , a lo n g w ith se m i-a n n u a l d iv id e n d N o . 8 on th e $ 2 ,5 0 0 ,0 0 0 n o n -c u m u la tiv e p referred s t o c k , a n in itia l d iv id e n d o f 2 % o n th e $ 2 ,5 0 0 ,0 0 0 c o m m o n s t o c k , p a y a b le S e p t . 1 o n s to c k o f record A u g . 30 190 9 . Description.— S to n e & W e b ste r , w h o h a v e m a n a g e d th e e n te r p r ise sin c e 1 9 0 5 , sa y : T h is c o m p a n y o w n s t h e c a p it a l s to c k o f t h e N o r th e r n T e x a s T r a c t io n C o .; w h ic h c o m p a n y d o e s a n e le c t r ic r a ilw a y b u s in e s s In F o r t W o r th . T e x . , a n d o p e r a te s a n tn te r u r b a n e le c t r ic r a ilw a y b e t w e e n F t . W o r th a n d D a lla s , T e x . , a d is ta n c e o f 3 3 m ile s , w it h a n e n t r a n c e o v e r Its o w n t r a c k s to t h e c e n tr e o f t h e la t t e r c it y . C a p ita l S to c k A u th o r is e d and Issu ed . P r e f. s to c k , 6 % n o n - c u m . (p r e f. a ls o a s t o a s s e t s ) , r e d . a t 1 1 0 _ . $ 2 ,5 0 0 , 0 0 0 C o m m o n s t o c k , p a r v a lu e o f s h a r e s $ 1 0 0 ________ _ z 500 000 N o b o n d e d I n d e b t e d n e s s , o t h e r t h a n $ 2 ,5 0 0 ,6 6 6 first m o r t g a g e 5% g o ld b o n d s o f t h e N o r th e r n T e x a s T r a c t io n C o ., d u e J a n . 1 1 9 3 3 . a n d $ 5 0 0 ,0 0 0 3 - y e a r 6 % g o ld c o u p o n n o t e s , d u e M a y 1 1 9 1 1 . • R e s u lts fo r C a le n d a r Y ears. , 1908. 1907. 1906. 1905. 1904. G ro ss e a r n in g s ------------ $ 1 ,0 8 0 ,5 7 7 $ 1 ,0 6 0 ,9 5 4 $ 8 5 4 ,1 3 5 $ 6 6 1 ,0 3 7 $ 5 6 4 ,7 1 1 N e t (a ft e r o p e r a t i n g ) . 4 5 0 ,5 2 5 4 6 5 ,8 8 1 3 2 7 ,1 5 0 2 8 4 ,6 2 9 2 4 8 .1 8 1 R e s u lts f o r th e T w e lv e M o n th s e n d in g A p r i l 3 0 1909. Gross earnings-$ 1 ,1 4 2 ,5 1 0 1Interest and taxes________________ $ 2 0 0 ,4 4 9 N e t e a r n in g s 4 7 4 , 3 8 6 1P r e f. d iv id e n d s (6 % ) ___________________ 1 5 0 ,0 0 0 - T o t a k e u p p r io r b o n d s , c h ie f ly M e m p h is C la r k s v ille & L o u is v ille s te r lin g m o r tg a g e b o n d s , d u e A u g . 1 1 0 0 2 , a n d L o u is v ille & N a s h v ille g e n e r a l b o n d s , a n d E v a n s v ille H e n d e r s o n & N a s liv llle b o n d s r e d e e m e d t h r o u g h s in k in g f u n d _______________ $3 4 1 8 5 8 6 _ " ’i 6 7 2 0 0 F o r p r e m iu m s o n b o n d s r e d e e m e d fo r s in k in g f u n d s ___ E x t e n s i o n s . $ 6 1 .7 6 2 : s e r n m l t m n i , t i n i o n . it.., ,r_ . ’ A u g . 1 0 , o v e r r u lin g th e o b je c tio n s o f th e M orton T r u s t C o ., a s tr u s t e e o f th e r efu n d in g m o r tg a g e o f 1 9 0 2 , a u th o r iz e d R e c e iv e r s J o lin e a n d R o b in s o n to sp e n d $ 3 9 4 ,2 0 5 o n a lt e r a t io n s a n d im p r o v e m e n ts to car h o u s e s in L e n o x A v e . a n d 1 4 6 th S t ., N in t h A v e . a n d 5 4 th S t . a n d e lsew h e re in th e c it y . W ith th e s e d is b u r s e m e n ts th e t o ta l a m o u n t e x p e n d e d o n a lte r a tio n s a n d r e p a ir s to th e car h o u s e s w ill h a v e b e e n $ 1 ,7 8 4 ,4 9 8 . J u d g e L a c o m b e sa y s: p u rch a se E leven M o n th s . E a r n in g s fo r E leven M o n th s e n d in g M a g 3 1 . O perating N e t O per. Taxes Other T o ta l B a la n ce, R evenues. R evenues. P a id . In co m e. D eductions. S u r p lu s . 1 0 0 7 :o l ::4 i :i 9 4 :6 2 9 iJSSSSS?08 Q ' i ’. l l l & i l.'I lS .’S i a 1 ,2 ° 7 ,3 ° 3 7 ’4 6 2 -942 6 ’ 9 ° 9 ’785 ^ G oye Ineluclo c h a r g e s a n d $ 8 2 5 ,0 5 6 f o F a d d l t i o n s a n d o f 2 H % w a s p a id F e b . 1 0 1 9 0 9 , ^ v " # 1 ’? 0 ^ 0#0 , 163° 3 / ° d lv ld e n d Palci A u g u s t 10 c a lls fo r $ 1 ,8 0 0 ,aAS Manistique & Northern RR.— Sale.— S e e A n n A rb or R R . a b o v e .— V . 8 7 , p . Metropolitan Authorized.—hi&ge 97. Street Ry., New York.— Disbursements L a c o m b e , o f th e U . S . C ircu it C o u rt, o n B a l a n c e -------------------------------- ------------------------------------------------------- $ 1 2 3 ,9 3 7 T h e s y s t e m o p e r a te d b y t h e N o r th e r n T e x a s T r a c tio n C o . i n c lu d e s a p p r o x im a t e ly 8 2 .5 m ile s o f s in g le t r a c k , c o m p o s e d o f 3 3 m ile s o f I n te r u r b a n lin e s b e t w e e n F o r t W o r th a n d D a lla s , 8 m ile s o f lin e In W e s t D a lla s a n d 4 1 .5 m ile s o f c it y lin e s In F o r t W o r th . T h e c i t y lin e s h a v e b e e n r e -la id d u r in g t h e l a s t fiv e y e a r s w it h 6 0 a n d 7 2 - lb . r a il. T h e I n te r u r b a n lin e is o f s t e a m r a ilr o a d c o n s tr u c t io n , la id w it h 7 0 - lb . T r a il, a n d e x c e p t in t o w n s Is e n t ir e ly o n p r iv a te r ig h t o f w a y , p e r m it t in g a h ig h s p e e d o f c a r s. T h e r o llin g s to c k in c lu d e s 1 0 6 p a s s e n g e r a n d e x p r e s s c a r s a n d 7 m is c e lla n e o u s c a r s. A m o d e r n p o w e r s t a t io n c o n t a in in g a lte r n a t in g c u r r e n t g e n e r a to r s o f 2 ,8 0 0 k .w . c a p a c it y is l o c a t e d a t H a n d le y , fr o m w h ic h c u r r e n t is d is t r ib u t e d t o fo u r s u b s t a t io n s . T h e p r in c ip a l fr a n c h is e In F o r t W o r th e x p ir e s in 1 9 7 3 ; m in o r fr a n c h is e s e x p ir e in 1 9 3 1 . I n D a lla s f r a n c h is e s e x p ir e In 1 9 2 0 a n d 1 9 4 5 .— V . 8 5 , p . 4 6 9 . ' Oneonta & Mohawk Valley (Electric) RR.— Reorganized.— T h e r ec e iv e r sh ip h a s b e e n te r m in a te d a n d th e c o m p a n y re o r g a n ize d u n d e r th e t it le o f O tse g o & H erk im er R R . C o. T h e n a m e o f O n e o n ta & M oh aw k V a lle y , h o w e v e r , w ill s t ill b e u s e d a s t h e a d v e r tis in g n a m e o f th e ro a d . W . B oardm an R e e d is P r e sid e n t; H e r b e r t T . J e n n in g s, V ic e -P r e s id e n t a n d G en era l C o u n sel; M iss L . M. W ils o n , T reasu rer; all w ith o ffic e s a t N e w Y o rk ; J o se p h K . C h o a te, G en eral M a n a g e r, H a r tw ic k , N . Y . C o m p are p a g e 8 3 o f “ E le c tr ic R a ilw a y S e c t io n .” O ts e g o & H e r k im e r R R .—Reorganized Company.— S ee O n e o n ta & M o h a w k V a lle y R R . a b o v e . R io G ra n d e S o u th e r n R R .— Report.— Y e a r e n d in g J u n e 30: F isc a l O perating year — revenue. 1 9 0 8 - 0 9 ______________$ 5 7 6 ,1 5 2 1 9 0 7 - 0 8 ______________ 6 0 5 ,7 5 3 —V. 8 7 , p . 6 7 8 . N e t,a fte r taxes. O ther in co m e. F ix e d charges. B alan ce, s u r .o r d e f . $ 1 6 9 ,2 8 6 2 0 2 ,9 7 0 $ 1 3 ,2 0 3 2 7 ,8 4 2 $ 2 0 4 ,3 3 7 1 9 9 ,7 7 6 d e f..> 2 1 .8 4 8 s u r .3 1 ,0 3 6 R io d e J a n e ir o T r a m w a y , P o w e r & L ig h t C o .—Dividend t h e a n n u a l m e e tin g in T o r o n to o n A u g . 7 C h a irm an W illia m M a ck en zie s t a t e d th a t th e r e w o u ld c e r ta in ly b e a d iv id e n d o n th e c o m m o n s to c k in th e n ea r fu tu r e , a n d t h a t i t w o u ld n o t b e le s s th a n 4 % . — V . 89, p. 219. S e a b o a r d A ir L in e R y .— Reorganization Notice.— T h e re o r g a n iz a tio n c o m m itte e m e t y e s t e r d a y b u t d id n o t e x te n d th e t im e fix e d u n d e r t h e a d ju s tm e n t p la n for th e d e p o s it of th e b o n d s , w h ic h t im e e x p ir e s o n A u g . 15 (to -m o r r o w ). T h is b e in g S u n d a y , b o n d s w ill b e r e c e iv e d b y th e d e p o s ita r ie s , a n d o v e r d u e c o u p o n s o n t h e first m o r tg a g e 4 % b o n d s c a sh e d u p to 3 o ’c lo c k o n M o n d a y , A u g . 1 6 .— V . 8 9 , p . 3 4 9 , 164. on Common Stock Proposed.— A t Segregation Talk—Possible Retirement of Preferred Slock.— T h e p la n s u g g e s te d m a n y m o n th s a g o fo r s e g r e g a tin g th e c o m p a n y ’s in v e s t m e n t h o ld in g s a s d is t in c t fr o m it s r a ilro a d p r o p e r ty (c o m p a re V . 8 5 , p . 1 1 4 4 , a n d p a g e 134 o f “ R a ilw a y a n d I n d u str ia l S e c t io n ” ) , w ith a v ie w to g iv in g t h e s t o c k h o ld ers s o m e so r t o f c e r tific a te s to r e p r e se n t t h e s a m e , h a s r e c e iv e d m u c h a t t e n t io n d u rin g th e w e e k in th e ta lk o f th e “ S tr e e t ” a n d it h a s b e e n t h o u g h t n o t u n lik e ly t h a t s u c h a d is tr ib u tio n , if m a d e , m ig h t b e o ffered a s a n in d u c e m e n t to th e p referred sh a r e h o ld e r s to e x c h a n g e th e ir p r e fer re d s to c k fo r c o m m o n .— V . 8 9 , p . 2 2 6 , 1 0 5 . Western Pacific Ry. — Completion of Road.— N e w s p a p e r a d v ic e s s t a t e t h a t th e road is n o w in o p e r a tio n fo r fr e ig h t s e r v ic e fro m S a lt L a k e C ity w e s t fo r a d is ta n c e of 2 6 2 m ile s. T h e e n tire lin e is e x p e c te d to b e r e a d y fo r fr e ig h t b y N o v e m b e r n e x t .— V . 8 8 , p . 1 3 1 4 . Worcester (Mass.) Consolidated Street R y .—Application to Issue Bonds Granted.—T h e M a ssa c h u se tts R a ilr o a d C om m issio n e r s h a v e g r a n te d th e a p p lic a tio n o f th e c o m p a n y to issu e 8 3 ,1 8 2 ,0 0 0 b o n d s m a tu r in g w it h in a p e r io d n o t e x c e e d in g 2 0 y e a r s a n d b e a r in g n o t o v e r 5% in te r e s t. O f t h e b o n d s . $ 2 ,2 6 0 ,0 0 0 a r e t o b e u s e d t o r e tir e b o n d s o f a lik e a m o u n t a s s u m e d o n c o n s o lid a t io n a n d $ 9 2 2 ,0 0 0 to f u n d f lo a t in g d e b t In cu rred fo r t h e p u r p o s e s s p e c ifie d In o r d e r s o f t h e b o a r d d a t e d O c t . 2 o 100 1 a n d A u g . o 1 9 0 2 . T h e s a id o r d e r s w h ic h a p p r o v e d I ssu e s o f s t o c k t o a n a m o u n t w h ic h w o u ld r e a liz e , a t t h e p r ice In s a id o r d e r s f ix e d a n d d e t e r m in e d b y t h e b o a r d , $ 9 2 2 ,0 0 0 , a r e r e v o k e d , n o s t o c k h a v i n g b e e n Issu ed t h e r e u n d e r . Any ex c e s s In t h e p r o c e e d s o f t h e b o n d s o v e r t h e a m o u n t s t o b e a p p lie d a s a b o v e s t a t e d , r e a liz e d fr o m p r e m iu m s , s h a ll b e u s e d fo r p e r m a n e n t a d d it io n s a n d I m p r o v e m e n t s .— V . 8 8 , p . 6 2 6 . York (Pa.) Railways. — Listed in Philadelphia.— T h e P h ila C o .—Common Stock Dividend Period d e lp h ia S to c k E x c h a n g e h a s lis t e d th e 8 2 ,5 0 0 ,0 0 0 c o m m o n Changed to Quarterly— Rate Raised to 7 % .— T h e d irecto rs s t o c k , 8 1 ,6 0 0 ,0 0 0 p r e f. s t o c k a n d 8 3 ,4 0 0 ,0 0 0 o f th e 1 s t M . h a v e d e c la r ed a q u a rte r ly d iv id e n d of 1 o n th e 8 5 ,0 0 0 ,0 0 0 5 % b o n d s . C om p are V . 8 7 , p . 4 0 , 4 8 1 . c o m m o n s t o c k , p a y a b le O c t. 15 to h o ld e r s o f record O ct. 1. T h e th r e e p r e c e d in g d iv id e n d s w e re d e c la r ed a t se m i-a n n u a l INDUSTRIAL, GAS AND MISCELLANEOUS. in te r v a ls a s fo llo w s: N o . 1, J u ly 15 1 9 0 8 , 2%%) N o . 2 , American Agricultural Chomical Co.— Contract for Potash J a n . 15 1 9 0 9 , 2 M % ! N o . 3 , J u ly 15 , 3 % . T h e u s u a l se m i Supplies in Germany.— T h e “ B o s t o n N e w s B u r e a u ” r e c e n tly a n n u a l 3 % o n th e 8 5 ,0 0 0 ,0 0 0 p referred s to c k h a s a lso b een s tc itc d * d e c la r e d . T h e c o m p a n y is o n e o f th o s e m a n a g e d b y S to n e A le a d in g o f fic ia l s a y s ; W e a r e a s s u r e d o f p o t a s h s u p p lie s In t h e f u tu r e a t m a te r ia lly lo w e r p r ic e s . W e h a v e n o t b o u g h t a m in e In G e r m a n y b u t & W e b s te r .— V . 8 8 , p . 1 0 6 2 . h a v e c lo s e d a n a d v a n t a g e o u s c o n t r a c t . A ll o f o u r p o t a s h s u p p lie s c o m e S e a ttle -T a c o m a S h o r t L in e (E le c tr ic ) RR.—New Officers.— ^r° T h ^ G e r m a n p o t a s h m o n o p o ly , w h ic h a t o n e t im e s e e m e d o n t h e v e r g e T h e fo llo w in g n e w d ir ec to rs w e re e le c te d n o t lo n g a g o o f d is r u p tio n t h r o u g h t h e a t t i t u d e o f W a ld e m a r & c h m ld tm a n n , lia s b e e n S e a ttle E le c tr ic A . P . P r itc h a r d a n d A lb e r t E . R o t h e r m e l o f T a c o m a a n d L . P H o rn b e r g e r o f S e a t t l e In p la c e o f F . H . M u r r a y a n d C . E . M u c k ier o f T a c o m a a n d M . L . W lg h t m a n o f S e a t tle ; t h e la t t e r o f w h o m , h o w e v e r , r e ta in th e ir I n t e r e s t a s s to c k h o ld e r s . r e n e w e d fo r fiv e y e a r s . T h e S c h m U ltin a n n m in e s a r e s t i l l o u t s id e t h e s y n d i c a t e , b u t n e g o t ia t io n s a r e o n , a n d c o n s id e r a b le P ™ ssurp I n r o i n e c t a b e a r t o In d u c e t h e m to c o m e In to t h e m o n o p o ly , w i t h c o n s id e r a b le p r o s p e c ts A c o n tr a c t w a s e n te r e d in to w it h H . A . E a s tm a n of D e tr o it a n d E . J . F e lt o f T a c o m a to fin a n c e a n d c o n s tr u c t th e lin e th r o u g h th e sa le , i t is sa id o f a n is s u e o f 8 3 ,0 0 0 ,0 0 0 b o n d s .— V . 8 7 , p . 1 2 3 8 . S o u th e r n T r a c tio n C o. o f I l l in o is .— Bond Issue.—T h is c o m p a n y , in c o r p o r a te d in I llin o is o n F e b . 6 1 9 0 8 w ith 8 2 ,5 0 0 c a p ita l s t o c k (in c r e a se d in M ay to 8 1 ,5 0 0 ,000) , to b u ild a n e le c tr ic r a ilw a y fr o m E a s t S t . L o u is , v ia C e n tr e v ille to B e lle v ille a n d M u r p h y sb o r o , a n d p o s s ib ly a t s o m e t im e to Cairo 111 r e c e n tlv filed a m o r t. to t h e U n io n T r. & S a v in g s B a n k o f ^ a s t S t l o u i s , a s t r u s te e , to s e c u r e a n issu e of J l , 5 0 0 ,0 0 0 bon d s. „ , A gricultural C h e m ic a l C o . c a n n o t b o c a lc u la t e d a t th e r e a r e s t ill s o m e d e t a ils o f n e g o t ia t io n t o b e c o n c lu d e d .— V . 8 8 , p . u>u. Thp directo rs a t Incorporation w ere Jo h n F o u c h e tte , C entreyille S ta tion 111 ! H en ” C S ! Belleville 111.. W . E. T ra u tm a n n . F . P . E rn st. R . V ernon C lark. E a s t S t. Louis. 111. T a c o m a E a s t e r n R R .— New Officers.— H . R . W illia m s h a s b e e n e le c te d P r e s id e n t in p la c e of E d w a r d C o o k m g h a m , w it h o ffic e a t S e a t t le , W a s h ., a n d F . G . R a n n e y , T r ea su r er , to su c c e e d L . J . P e n t e c o s t .— V . 8 7 , p . 9 8 . T o le d o B o w lin g G reen & S o u th e r n T r a c tio n C o .—Plan Awroved — T h e sh a re h o ld e r s a t th e a d jo u r n e d m e e tin g h eld in F in d la y , O ., o n A u g . 9 r a tified th e p la n a lr e a d y o u tlin e d (V 8 8 p 1 4 3 9 ) fo r in c r e a sin g th e c a p ita l s to c k to 8 2 ,0 0 0 ,0 0 0 a n d m a k in g 8 7 5 0 ,0 0 0 o f it p r e fer re d , a n d a lso fo r p u r c h a s in g th e T o le d o U r b a n & In te r u r b a n R y — V . 8 9 , p . 1 0 5 . T o le d o & O hio C en tra l R y .— Dividends.— T h e d irecto rs o n A u g . 9 d e c la r e d a d iv id e n d of 5 % o n t h e p ref . s to c k a n d 1% o n t h e c o m m o n s t o c k o u t o f th e su rp lu s e a rn in g s fo r th e y e a r e n d e d J u n e 30 1 9 0 9 , p a y a b le A u g 15 1 909 The b o a r d , it a p p e a r s, d e c la r e d sim ila r d iv id e n d s F e b . 1 of th is y e a r o u t o f th e su rp lu s e a rn ed fo r th e y e a r e n d e d J u n e 30 1 9 0 8 . T h e H o c k in g V a lle y R y • C o. o w n s a ll e x c e p t $ 5 4 ,1 0 0 o f th e 8 5 ,8 5 2 ,1 0 0 c o m m o n a n d a ll b u t 8 1 1 ,6 0 0 o f t h e 8 3 , 7 0 8 ,0 0 0 p r e f. s to c k . Report.— F or y e a r e n d in g J u n e 30 1909: vpnr cinerntinn R e ven u e0 fsipt O ver R evenue T a xes P a id . O thef In co m e. F ix e d B a l., fo r Charges. D tvs. ‘Si? *iss:?siisa 'isas •aas 1 9 0 8 - 0 9 , a g a i n s t $ 6 1 1 ,5 8 4 In 1 9 0 7 - 0 8 .— V . 8 9 , P- 4 4 . U n io n P a c ific R R .— Sale of Holdings of Great Northern is g e n e r a lly u n d e r s to o d t h a t t h e c o m p a n y h a s so ld in r e c e n t w e e k s it s e n tir e h o ld in g s o f G reat N o r th e r n O re c e r tific a te s, a m o u n tin g a t t h e d a t e o f th e la st a n n u a l r ep o rt to 7 7 ,1 6 4 sh a re s (V . 8 8 , p . 1 0 5 9 ). T h e N e w Y o r k S u m m a r y ” o f A u g . 9 said: Ore Certificates— I t F o llo w in g t h e s a le o f t h e S o u t h e r n P a c ific c o n v e r t ib le s a n d A t c h is o n p r e fer r e d It a p p e a r s t h a t t h e liq u id a t io n o f t h e H ill s t o c k s m u s t b r in g th e t o U l c a s h p r o c e e d s o f s a le s o f U n io n P a c ific 's tr e a s u r y h o ld in g s d u r in g t h e p aasht yy ec aa ri uu p t o b e t w e e n $ 5 5 ,0 0 0 ,0 0 0 a n d i n$ 6n0f ,0t h0f0t ,0 00. y a'p a r tT o f t h pe PWr o "» ^ c ewIn vn ne| , Tr o df rf or nmm ^ t h ec^o le ^ o f ’t h e t.rf» t r e aass u r y h o ld in g s m e n t io n e d . a c c o r c $ n g Ct o s e m i-o f f ic ia l r e p o r ts , h a s b e e n ^ - I n v e s t e d in N e w Y o r k C e n tr a l t h u s m a te r ia lly In c r e a s in g t h e U n io n P a c ific s s to c u n o ia in g s In t h a t road™ 0 H o w m u c h a d d it io n a l N e w Y o r k C e n tr a l h a s b e e n p u r c h a s e d h a s n o t b e e n d is c lo s e d , b u t It Is u n d e r s to o d t h a t c o n s id e r a b le b lo c k s o f t h e s r o c k w e r e a c a u lr e d I n L o n d o n . I t Is c o n f id e n t ly b e lie v e d in w e ll In fo r m e d b a n k liw Q u a r te r s t h a t t h e N e w Y o r k C e n tr a l w ill fig u r e In a d e a l w i t h th e U n io n P a c ific w h e n t h e p r o p e r t im e a r r iv e s fo r c a r r y in g o u t t h e p la n s w h ic h t h e H a r r im a n I n te r e s ts h a v e In v i e w . ° f T h ^ e x a c t sa v in g w hich th e new co n tra ct w ill American Light & Traction Co., New York.— Earnings.— T h e r e s u lts for th e s ix m o n th s e n d in g J u n e 3 0 w ere: s ix E a r n s , fro m Other N et P r e f. Common B a la n ce. M os. S u b . C os. In co m e. P r o fits . D i v . (3 % ). H itd d en tf. S u r p lu s . 1 9 0 9 ___ $ 1 ,3 9 7 ,7 3 1 $ 1 4 9 ,2 4 9 $ 1 ,4 9 3 ,1 9 2 $ 4 2 7 ,0 8 6 ( 5 % ) $ 4 0 7 ,7 4 6 $$->8,361 1908 . . . 1 ,1 0 2 ,8 2 1 1 1 4 ,0 0 6 1 ,1 9 3 ,4 2 7 4 2 7 ,0 8 6 (3 H % ) 2 2 2 , 41 1 $ 4 3 ,9 3 0 1907 - . - 1 ,0 2 8 ,8 0 6 1 1 5 |8 9 9 1 ,1 2 0 .7 6 5 4 2 7 ,0 8 0 (2 % % ) 1 8 5 ,9 1 9 $ 0 7 ,7 6 0 N o t e ,— F r o m t h e s u r p lu s fo r t h e s ix m o n th s t h e r e w a s d e d u c t e d $ 3 4 0 ,5 0 0 In 1 9 0 9 , a s a g a in s t t h e s a m e a m o u n t In 1908; fo r " r e c o n s tr u c t io n r e s e r v e / ’ le a v in g a s u r p lu s o f $ 3 1 7 ,8 6 1 , c o n t r a s t in g w i t h $ 2 0 3 , 4 3 0 fo r t h e co r r e s p o n d in g p e r io d o f t h e p r e v io u s y e a r .— V . 8 9 , p . 1 6 5 . American Petroleum Co., Los Angeles, Cal.—New; Stock.— A m e e tin g w a s to b e h e ld o n A u g . 4 to v o t e o n in c r e a sin g th e c a p ita l s to c k fro m 8 1 0 ,0 0 0 ,0 0 0 to 8 1 5 ,0 0 0 ,0 0 0 . a t ns A ngeles naDcr savs: A uthorized b onded d eb t, $ 2 ,0 0 0 ,0 0 0 ; issu ed , S 9 M M 0 - T t e A » ^ P 8 % ^ T h e gross earnings are a b o u t $ 1 4 0 ,0 0 0 per. month a n d th e com p an y's gross exp en se (in clud in g Interest on b ond s and co st of d ev elo p m en t and production) an m u n ts to less th a n $ 3 0 ,0 0 0 per v d ivid en d a t th e rate of 6% per a n n u m Is paid on a n o u tsta n d in g sto ck ^ issu e of a b o u t $ 9 5 0 0 0 0 0 (par va lu e) . c a l l i n g fo r a b o u t $ 4 7 ,5 0 0 S h iv After n ro v ld ln e for ex p en ses a n d d iv id e n d s, a s herein sh o w n , S l s yie ft a surplus of. a p V o x l m a ^ e l y ^ can m eet p aym en ts on prop erty purchases a s tn e y ran n u t. v . a n , p. American Smelters Securities Co.— New Director.—J u d d S te w a r t of N e w Y o r k h a s b e e n electeid a d ir e c to r a:nd a lso m e m b er of th e e x e c u t iv e c o m m it t e e . V. 8 J , p . lo u , American Telephone & Telegraph Co.— Earnings of Asso m o n th o f J u n e a n d first ciated Operating Companies.— F o r s ix m o n th s o M 9 ° 9 a n d i l 9 ° 8: ^ & \Q o i° nUX~ $ f ? 3 0 3 3S0 9 ( $ 6 e0 2 i a 03 7 -) $ 3 M C ,C ,0r>0 1 9 0 8 : : : : : : : ? i o .4 6 4 ; 5 0 6 V w .m $ 5 2 6 ,8 7 4 0 4 0 .7 1 0 $ 2 ,4 4 8 ? 7 0 3 2 . 2 8 1 ,5 1 6 m o n th s — * 2 0 .8 8 0 ,9 9 6 $ 3 ,4 6 8 ,2 5 4 $ 1 4 ,1 9 0 ,9 3 3 9 0 9 ------------ 3 4 7 5 7 6 7 3 1 7 7 4 5 .5 4 3 3 ,9 0 2 ,6 1 0 1 3 ,1 0 9 ,5 1 4 1 9 l n 1900 "all m a ln t e n in c e ^ a n d ex p en ses m o n t h ly { P ^ e a d o f b e l n g a tr u e c o m p a r is o n m a y lie m a d e D e c e m b e r a s h e r e to fo r e . In 0 fig u r e s a s n o w p r e s e n te d I n c lu d e in e x b e t w e e n 1 9 0 8 a n d 1 9 0 9 , t h e 1 9 0 g £ tl*aorciln a r y p r o v is io n fo r d e p r e c ia tio n p e n s e s fo r e a c h ^ , 008 T h e u n e x p e n d e d p o r tio n o f th e p row h lc h w a s m a d e l n p e c e m b e r l 9 0 8 . i n«, o f 1 9 0 9 w a 8 $ 8 ,7 5 6 .3 5 4 , w h ic h te not counted ^ p r o f i t s , m e n t s .— V . 8 9 , p . 2 8 8 , 2 2 7 . but r e m a in s a s a r e s e r v e fo r f u tu r e r e p la c e Berwick (Pa.) Consolidated Gas C o . — Bondholders’ Com mittee—Deposits.— O n J u n e 2 0 1 9 0 9 t h e C ircu it C ou rt of th e U n ite d S ta te s o f th e M id d le D is tr ic t of P e n n s y lv a n ia a p p o in te d rec eiv e rs fo r th e c o m p a n y . A t a m e e tin g of h e h o ld er s of th e first m o r tg a g e 2 5 -y e a r 5 % b o n d s d a te d N o v . 21 1 903, h e ld o n J u ly 2 0 , a t w h ic h 8 1 1 4 ,0 0 0 of th e b o n d s w ere r e p r e se n te d , a c o m m it t e e w a s e le c te d to p r o te c t th e in te r e s ts of th e b o n d h o ld e r s . H o ld e r s a re a sk e d to d e p o s it th eir b o n d s w it h th e U n io n T ru st C o. o f L a n c a ste r , P a ., d e p o s ita r y , in e x c h a n g e fo r tr a n sfe r a b le r e c e ip ts The com m it t e e d esires p r o m p t a c tio n in ord er to e n a b le th e m to p re v e n t t h e issu in g of r e c e iv e r s ’ c e r tific a te s a n d to fo r ec lo se th e m o r tg a g e a n d g a in p o s se ssio n o f t h e p r o p e r ty ‘w h ic h t h e y c o n sid e r v a lu a b le .” T h e c o m m it t e e c o n s is ts of: f ss n v r t r O h a lr m a ir W . S . T a y lo r . S e c r e t a r y , a n d D . O. H a v e r s t lc k , t y p « •’ F r a n k T M c C o r m ic k , W ilk e s - B a r r e , P a .; W . W o e lp p e r . h < ? q aSF m i r t i f s t P h ila d e lp h ia ; J o h n M. G ro ff, 4 0 N . D u k e S t . , L a n c a s t e r , p a ° &c o u n s e lh fo r ’c o m m i t t e e . [ A n y p la n o f r e o r g a n iz a t io n m u s t b e s u b m u t e d t o a m e e t in g o f t h e b o n d h o ld e r s , a n d it c a n n o t b e a d o p t e d In c a s e 4 5 % t o ‘S i t o S r t o K b o n d h o ld e r s d is s e n t .] C om pare V . 8 8 , p . 1623. Carnegie Coal Co.— Guaranteed Bonds— Status.— S e e Car n e g ie D o c k & F u e l C o. b e lo w .— V . 8 7 , p . 4 1 8 . Carnegie Dock & Fuel Co.— Guaranteed Bonds Sold.— T h e G u a r a n te e T it le & T r u st C o., H o lm e s, W ard ro p & C o. a n d B a rr, L y o n & C o ., a ll of P itts b u r g h , a n d E . B . J o n e s & C o. o f P h ila d e lp h ia , o ffered o n J u ly 2 7 , a t p a r a n d in te r e s t, a n d b y th e fo llo w in g T h u rsd a y h a d w h o lly s o ld , t h e e n tir e a u t h o r ized is s u e o f 8 3 0 0 ,0 0 0 first m o r tg a g e g u a r a n te e d 6 % s in k in g fu n d g o ld b o n d s o f 8 1 ,0 0 0 e a ch (c * ), to b e d a te d S e p t . 1 1 9 0 9 a n d d u e S e p t. 1 1 9 2 0 , b u t s u b j e c t to p rior r e d e m p tio n a t 1 0 2 a n d in te r e s t. I n t e r e s t p a y a b le M. & S . a t G u a ra n te e T itle & T r u st C o ., tr u s te e , P it t s b u r g h . P r in c ip a l a n d in te r e s t u n c o n d itio n a lly g u a r a n te e d b y th e C a rn eg ie C oal Co. o f P itts b u r g h . A n n u a l sin k in g fu n d (m in im u m ) 8 3 0 ,0 0 0 , th e b o n d s to b e c a lle d in n u m e r ic a l ord er b e g in n in g S e p t. 1 1 9 1 1 . A circu la r s a y s in su b s ta n c e : G e o r g e S . B a t o n , E sq .* p la c e s a v a l u e o f $ 1 ,5 1 5 ,0 0 0 o n t h e p r o p e r tie s o f t h e C a r n e g ie C o a l C o ., t h u s s h o w in g a n e q u i t y t o p r o t e c t t h is g u a r a n t y o f 5 1 ,0 9 2 ,3 5 4 . D u r in g t h e lif e o f t h is g u a r a n t y t h e C a r n e g ie C o a l C o. c a n n o t , u n d e r Its a g r e e m e n t , In c r ea se Its b o n d e d d e b t n o r c r e a te a n y o b lig a t io n w h ic h s h a ll t a k e p r e c e d e n c e o v e r t h is g u a r a n t y . T h e c a p ita l s t o c k o f th e C a r n e g ie C oal C o . is 5 5 0 0 ,0 0 0 . (S e e V . 8 7 . p . 4 1 8 ; V . 8 3 , p . 1 1 7 2 .) Abstract of Letter from Carnegie Coal Co., Pittsburgh, Pa., July 2 1909* T h e C a r n e g ie D o c k & F u e l C o . Is a P e n n s y lv a n ia c o r p o r a t io n , a ll o f w h o se s t o c k ( $ 3 0 0 ,0 0 0 ) Is o w n e d b y t h e C a r n e g ie C o a l C o . o f P i t t s b u r g h . A very la r g e p o r tio n o f o u r o u t p u t h a s h e r e to fo r e b e e n h a n d le d t h r o u g h L a k e s h ip p e r s o n d o c k s a t S u p e r io r , W i s e ., a n d o t h e r L a k e p o r t s . I n o r d e r t o r e ta in t h e s e L a k e s h ip p in g a n d d o c k p r o f it s , w e h a v e le a s e d a t S u p e r io r fo r 3 0 y e a r s fr o m t h e G r e a t N o r th e r n R y . C o . a d o c k s it e 2 ,5 0 0 f e e t in le n g th a n d 3 2 0 f e e t In w i d t h , w it h a d o c k 1 ,0 0 0 f e e t lo n g , a n d w it h a s lip o f a d e p t h o f 2 2 f e e t , a b le t o a c c o m m o d a t e t h e la r g e s t v e s s e ls o n t h e G re a t L a k e s . W e p u r p o s e t o e x p e n d $ 1 2 5 ,0 0 0 in tillin g , c r ib b in g a n d llo o r ln g a n a d d i tio n a l 1 ,5 0 0 f e e t o f d o c k , a n d $ 3 0 0 ,0 0 0 fo r I n s ta llin g th r e e e le c t r ic a l u n its fo r h a n d lin g c o a l a n d a m o d e r n h o u s e fo r t h e s to r a g e o f a n t h r a c it e c o a l. T h is d o c k w ill h a v e a s to r a g e c a p a c it y o f 5 0 0 ,0 0 0 t o n s o f c o a l, a n d a h a n d lin g c a p a c it y o f a t le a s t d o u b le t h is a m o u n t . T h e u n ifo r m c h a r g e fo r h a n d l in g c o a l a t t h e o t h e r t e n d o c k s In S u p e r io r is 3 5 c e n ts p e r t o n , w h ile ou r m o d e r n e q u ip m e n t w ill e n a b le u s t o h a n d le c o a l a t a c o s t t o u s n o t g r e a te r t h a n 10 c e n ts p e r t o n , in c lu d in g I n te r e s t o n b o n d e d d e b t . T h e G r e a t N o r th e r n R y . C o . h a n d le s a n a v e r a g e o f 6 5 0 ,0 0 0 t o n s o f c o a l p e r y e a r a t t h is p o r t , a n d in c o n s id e r a t io n o f t h is le a s e h a s e n t e r e d i n to a lo n g -t e r m c o n t r a c t w it h u s fo r t h e h a n d lin g o f a p o r t io n o f i t s c o a l o v e r t h is d o c k a t a p r ic e t h a t w ill y ie ld u s a h a n d s o m e p r o fit. I n a d d it io n , t h e f o llo w in g r o a d s c a n b e s e r v e d : C h ic a g o & N o r th W e s te r n , t h e N o r th e r n P a c if ic , t h e S o o L in e , W is c o n s in C e n tr a l, t h e D u lu th S o u t h S h o r e & A t la n tic R y . , n o n e o f w h ic h h a s its o w n c o a l d o c k in g f a c ilit ie s a t S u p e r io r . W ith a t o t a l b u s in e s s o f 6 5 0 ,0 0 0 t o n s p e r a n n u m , t h e g r o s s p r o llt s o f t h e d o c k s h o u ld b e $ 3 0 8 ,2 0 0 ; e s t i m a t e d c o s t o f o p e r a tin g , $ 1 1 5 ,7 8 0 ; I n te r e s t o n $ 3 0 0 , 0 0 0 b o n d s , $ 1 8 ,0 0 0 ; s in k in g f u n d , $ 3 0 ,0 0 0 ; b a la n c e , s u r p .u s , $ 1 4 4 ,4 2 0 . T h e C a r n e g ie C o a l C o. h a s b e e n In s u c c e s s f u l o p e r a tio n fo r n in e y e a r s . I t s th r e e o p e n in g s a r e s e r v e d b y t h e P e n n s y lv a n ia lin e s , a n d n o w h a v e a n a n n u a l c a p a c it y o f 8 0 0 ,0 0 0 t o n s . T h e m in e s a r e e le c t r ic a lly e q u ip p e d a n d t h e q u a l it y o f t h e c o a l m a k e s it a s u p e r io r f u e l lo r s te a m a n d d o m e s t ic p u r p o s e s . T h e p r o p e r tie s a r c l o c a t e d a t C a r n e g ie , O a k d a le , P r im r o s e a n d B u r g e t ts t o w n , a n d o n D e c . 31 1908 t h e r e w e r e 1 ,6 6 7 a c r e s o f u n m in e d c o a l a n d 4 8 2 a c r e s o f s u r fa c e , w h ile d e v e lo p m e n t a n d c o n s tr u c t io n h a d c o s t $ 4 4 3 ,1 0 9 . T h e c o m p a n y In 1 9 0 5 i s s u e d $ 5 0 0 ,0 0 0 b o n d s d u e in 1 9 1 7 , $ 4 3 ,0 0 0 h a v e b e e n c a n c e le d , w h ile $ 3 4 ,3 5 4 in c a s h r e m a in s in t h e s in k in g fu n d fo r fu r th e r r e tir e m e n t o f b o n d s. I t s in c r e a s e d n e t e a r n in g c a p a c it y a b o v e I n te r e s t a n d s in k in g f u n d , b a s e d u p o n Its p r e s e n t a n n u a l c a p a c it y o f 8 0 0 ,0 0 0 t o n s , s h o u ld s h o w $ 2 0 7 ,5 0 0 . S t a r t i n g w it h o n e o p e n in g In 1 9 0 0 , t h e C a r n e g ie C o a l C o . h a s h a d a c o n t in u o u s g r o w t h a n d s u c c e s s fu l b u s in e s s . I t s s u r p lu s e a r n in g s fo r t ills p e r io d a v a ila b le fo r d iv id e n d s a m o u n t t o $ 4 1 0 ,2 7 5 , o f w h ic h a ll b u t $ 2 2 ,9 1 7 ( d is b u r s e d In d iv id e n d s ) w a s p u t b a c k i n to t h e p r o p e r t y . Columbia Gas & Electric Co.— Purchase Completed.— T h e c o m p a n y o n A u g . 5 c lo s e d th e d ea l fo r n e a r ly 8 4 ,0 0 0 ,0 0 0 m in o r ity c o m m o n s to c k o f th e U n io n G as & E le c tr ic C o., g iv in g it t h e o w n er sh ip o f n e a r ly th e e n tir e 8 1 0 ,0 0 0 ,0 0 0 of c o m m o n ; a n d , a lso , it is s a id a c q u ir e d e n o u g h a d d itio n a l p referred s to c k to g iv e it 6 0 % of t h a t is s u e . T h e d e a l re c o u p s th e s y n d ic a t e for th e 8 5 ,0 0 0 ,0 0 0 c a sh w h ic h w a s p u t u p to p r o v id e th e 8 3 ,0 0 0 ,0 0 0 g u a r a n te e to p r o te c t th e lea se o f th e C in c in n a ti G as & E le c tr ic C o. a n d 8 2 ,0 0 0 ,0 0 0 fo r p h y s ica l im p r o v e m e n ts . S e e circu lar u n d e r U n io n G as & E le c tric C o. in V . 8 9 , p . 2 3 0 .— V . 8 9 , p . 3 5 0 . Consolidated Cotton Duck Co.— Suit on Income Bonds.— T h ree o w n er s o f th e M o u n t V e rn o n -W o o d b e rr y in c o m e bonds*, w h o s e h o ld in g s a g g r e g a te 8 1 6 4 ,0 0 0 of th e 8 2 4 0 ,0 0 0 n o t o w n ed b y th e C o n so lid a ted C o tto n D u ck C o ., h a v e b r o u g h t s u it to c o m p e l t h e p a y m e n t of in te r e s t c la im e d to h a v e b e e n e a rn ed b u t u n p a id a n d to h a v e th e p r in c ip a l d e cla red d u e b y rea so n o f su ch n o n -p a y m e n t. T h e la s t p a y m e n t o n th e in c o m e s , Yi o f 1 % , w a s m a d e in J a n . l a s t .— V . 88, p. 508. Consolidated Lithograph Co., New York.— Financial Plan. — W illia m O ttm a n a n d T h e o d o r e C o ch eu J r. o f N e w Y o r k , b o th d ir ec to rs o f th e c o m p a n y , th e la t t e r b e in g a lso its T rea su rer, h a v e , a t th e r e q u e st o f a la rg e n u m b e r of th e h o ld ers o f th e b o n d s , n o te s a n d s to c k o f t h e C o n so lid a ted L ith o g r a p h C o ., p r e p a r e d a fin a n cia l p la n b ea rin g d a te J u n e 1 1 9 0 9 . T h is p la n , it is e x p e c te d , w ill s h o r tly b e d e cla red o p e r a tiv e , t h e h o ld er s o f th e r e q u isite a m o u n t o f th e se c u r i tie s h a v in g a g r ee d to a c c e p t its te rm s a n d th e a c tu a l d e p o s its w ith th e M orton T r u st C o ., N e w Y o rk C ity , d e p o s ita r y , b e in g a lm o s t s u ffic ie n t to j u s tify su ch a c tio n . T h e p la n p r o v id e s t h a t th e U n ite d S t a t e s L ith o g r a p h C o. (n o w a su b s id ia r y co n c er n ) s h a ll, o n or b e fo r e J u ly 1 191 1 , a c q u ir e th e a s s e ts o f th e C o n so lid a ted C o m p a n y fr ee a n d cle a r, a n d sh a ll b e su p p lie d w ith 8 4 0 0 ,0 0 0 a d d itio n a l w o r k in g c a p ita l, or a lik e a m o u n t of it s preferred s t o c k , issu a b le to a c q u ir e th e s a m e . T h e h o ld ers of th e e x is t in g 8 2 ,5 5 2 ,0 0 0 b o n d s are offered th e r ig h t of e x c h a n g e for c a p ita l s to c k a s b e lo w s t a t e d , a n d a t le a s t 9 0 % th e r eo f w ill t h u s b e a c q u ir ed b y th e c o m m itte e , a fte r w h ic h th e se c u r itie s d e p o s ite d a s c o lla te r a l w ill p r o b a b ly b e so ld a t a u c tio n to se c u r e cle a r t it le . T h e 8 8 0 0 ,0 0 0 n o te s w h ic h , u n d e r th e tr u st d e e d d a te d A p ril 1 1 9 0 5 , h a v e a lien on th e p le d g e d s to c k s a h e a d o f th e a fo r e sa id 8 2 ,5 5 2 ,0 0 0 b o n d s , are to b e a c q u ir ed b y th e c o m m itte e b y m e a n s o f n o t e x c e e d in g 8 8 0 0 ,0 0 0 5% g u a r a n te e d o b lig a tio n s p a y a b le A pril 1 1 9 1 1 . (T h e se o b lig a tio n s a r e m o re fu lly d e sc r ib ed in fo o t n o te “ a ” b e lo w .) In ord er to p ro v id e fo r th e r e tir e m e n t o f th e s e o b lig a tio n s a t th e ir m a tu r ity o n A p ril 1 1 9 1 1 , a s y n d ic a t e h e a d e d b y C h arles H . D a v isa n d J a m e s M. H u t t o n b o th o f C in c in n a ti h a s u n d e r w r itte n a n d w ill p u r c h a s e o n or b e fo r e A p ril 1 1 9 1 1 , a t p a r , (8 1 0 0 p e r sh a r e ) 8 8 0 0 ,0 0 0 p referred s t o c k o f t h e U . S . L ith o g r a p h C o. w it h t h e sa m e a m o u n t of c o m m o n a s b o n u s . T h e c o m m it t e e h a s a lso g iv e n M essrs. D a v is a n d H u tto n a n o p tio n o n a fu r th e r 8 4 9 5 ,0 0 0 o f t h e n e w p referred s to c k . T h e C o n so lid a te d L ith o g r a p h C o. n o w o w n s a n d h a s p le d g e d u n d e r it s t r u s t d e e d o f A p ril 1905: S to c ks P ledged u n d er T ru s t D eed o f A p r il 1 9 0 5 . ( B e in g t h e e n t ir e is s u e s e x c e p t in M e tr o p . P t g . C o . ( N .Y .) c o m $ 3 8 5 ,0 0 0 P r e f. s t o c k , 7 % c u m u la t - - 4 3 5 ,0 0 0 C o u rie r C o . o f B u f f a lo _______ 3 0 0 ,0 0 0 E r ie ( P a .) L it h . & P t g . C o . . 2 0 0 ,0 0 0 c a s e o f t h e U . S . L it h o g r a p h C o.) D o n a ld s o n L it h .C o . ( O . ) . $ 4 0 ,000W a lk e r L it h . & F r in t. ( P a .) _ _ 5 0 ,0 0 0 U . S . L it h . C o ., c o m m o n 2 -300,000 P r e f ., 7 % c u m u la t i v e ___ r n o n e x T h e c o m m o n s t o c k o f t h e U . S . L it h o g r a p h C o . Is a b o u t $ 4 0 0 ,0 0 0 , o f w h ic h $ 3 0 0 ,0 0 0 is p le d g e d a s a b o v e s t a t e d a n d w ill e v e n t u a ll y b e a v a ila b le fo r p a y m e n t o f b a n k e r s ’ c o m m is s io n , & c ., a n d t h e r e m a in d e r (a b o u t $ 1 0 0 ,0 0 0 ) is m o s t l y o w n e d b y o n e o r m o r e o f t h e o t h e r c o m p a n ie s . T h er e is $ 8 0 0 ,0 0 0 p r e fe r r e d s t o c k , a ll w id e ly d is tr ib u t e d . T h e la s t-n a m e d c o m p a n y , th e U n ite d S t a t e s L ith o g r a p h C o. (o f N e w J e r s e y ) w ill in c re a se i t s s to c k a s fo llo w s: S to c k o f U. S . L ith o g ra p h C o. to B e In crea sed to $ 6 ,5 0 0 ,0 0 0 . N o w ------- T o ta l u n d e r P la n -----Is su e d . A u th . & I s s . Increase. C lass (p a r $ 1 0 0 ) — C om m on sto c k . . . _ ________ $ 4 0 0 ,0 0 0 $ 3 ,3 0 0 ,0 0 0 $ 2 ,9 0 0 ,0 0 0 P r e fe r r e d s t o c k . . . . . . 8 0 0 ,0 0 0 3 ,2 0 0 ,0 0 0 2 ,4 0 0 ,0 0 0 N o te .— “ T h e h o ld e r s o f t h e p r e fe r r e d s t o c k s h a ll b e e n t it le d t o r e c e iv e , b u t o n ly w h e n a n d a s d e c la r e d , fr o m t h e s u r p lu s o r fr o m t h e n e t p r o fits o f t h e c o r p o r a tio n , fix e d , c u m u la t i v e , y e a r ly d iv id e n d s u p t o , b u t n o t e x c e e d in g , t h e r a t e o f 7% p e r a n n u m , p a y a b le q u a r t e r ly o n t h e fir st d a y s o f M a r ch , J u n e , S e p t e m b e r a n d D e c e m b e r o f e a c h y e a r , In p r e fe r e n c e a n d p r io r it y t o t h e p a y m e n t o f a n y d iv id e n d o n t h e c o m m o n s t o c k , a n d d i v i d e n d s s h a ll n o t b e d e c la r e d o r p a id o n t h e c o m m o n s t o c k u n t il a ll d iv id e n d s t o w h ic h t h e p r e fe r r e d s t o c k is e n t it le d a t fu ll r a te t o t h e d a t e o f s u c h d e c la r a t io n o r p a y m e n t a r e p a id o r s e t a p a r t fo r p a y m e n t . T h e a d d itio n a l s t o c k o f t h e U n it e d S t a t e s L ith o g r a p h C o. it is p r o p o s e d to issu e in e x c h a n g e fo r t h e se c u r itie s of th e C o n so lid a ted L ith o g r a p h C o. a n d fo r o th e r p u r p o se s a s fo llo w s: New Stock—Terms of Exchange, &c. 1 . H olders C onsol. L ith . C o . ----------------------W ill Receive ---------------------F or— C la ss — T o ta l. N ew C o m . — T o ta l. N e w P r e f. — T o ta l. $ 1 0 ,0 0 0 C o m m o n s t o c k . $ 1 ,9 7 3 ,0 0 0 $ 1 0 0 — $ 1 9 ,7 3 0 1 0 ,0 0 0 P r e fe r r e d s t o c k . 1 ,7 2 3 ,0 0 0 500— 8 6 ,1 5 0 . S e e " a ” 5% n o t i s --------8 0 0 ,0 0 0 S ee“ a ” 8 0 0 ,0 0 0 S e e “ a ” $’8 0 0 ,0 0 0 1 .0 0 0 B o n d s --------------- 2 ,5 5 2 ,0 0 0 x 7 2 5 — 1 ,8 5 0 ,2 0 0 $ 4 0 0 1 ,0 2 0 ,8 0 0 1 .0 0 0 B o n d i n t . n o t e s t/2 1 0 ,9 0 0 600— 1 2 6 ,5 4 0 4 0 0 8 4 ,3 6 0 T o t a l ...................................... 5 7 ,2 5 8 ,9 0 0 $ 2 ,8 8 2 ,6 2 0 2 . I s s u a b le fo r $ 4 0 0 ,0 0 0 w o r k in g c a p ., & c___ __________ T o t a l n e w s t o c k , a s p e r p la n , s a y . . .............. $ 2 ,9 0 0 ,0 0 0 $ 1 , 9 0 5 ,1 6 0 4 9 5 ,0 0 0 $ 2 ,4 0 0 ,0 0 0 a T o a c q u ir e t h e $ 8 0 0 ,0 0 0 n o t e s o f t h e C o n s o lid a te d C o m p a n y t h e r e w ill b e Is su e d u n d e r a t r u s t a g r e e m e n t , p u r s u a n t t o t h e t e r m s o f a p r o p o s e d c o n d itio n a l s a le a g r e e m e n t , n o t e x c e e d in g $ 8 0 0 ,0 0 0 5% o b lig a t io n s , u n c o n d it io n a lly g u a r a n t e e d a s t o p r in c ip a l a n d in t e r e s t b y t h e U n it e d S t a te s L it h o g r a p h C o . a n d s e c u r e d In p a r t b y p le d g e o f $ 8 0 0 ,0 0 0 c o m m o n s to c k o f t h e U n it e d S t a t e s C o m p a n y , t h e a s s ig n m e n t o f t h e o b lig a t io n s o f t h e u n d e r w r ite r s a n d t h e r ig h t o f t h e c o m m it t e e t o r e c e iv e p r e fe r r e d s t o c k in e x c h a n g e fo r n o t e s o f t h e C o n s o lid a te d C o m p a n y . T h is p r e fe r r e d s to c k h a s b e e n u n d e r w r it te n a s a b o v e s t a t e d , a n d t h e p r o c e e d s w ill b e u s e d t o r e tir e a ll t h e s a id o b lig a t io n s . x T h e b o n d s m u s t be a c c o m p a n ie d b y c o u p o n o f A p ril 1 1 9 0 9 a n d if s a id c o u p o n Is m is s in g t h e d e p o s ito r m u s t p a y t o t h e c o m m it t e e t h e p a r v a lu e o f su ch coupon. y T h e c o u p o n s fo r 1 9 0 7 a n d 1 9 0 8 o n a la r g e m a jo r ity o f t h e $ 2 ,5 5 2 ,0 0 0 b o n d s w e r e d e p o s ite d w it h t h e M o r to n T r u s t C o . u n d e r a g r e e m e n t d a t e d J u l y 1 1 9 0 7 , t h e $ 2 1 0 ,9 0 0 b o n d i n te r e s t n o t e s b e in g is s u e d o n t h e s e c u r it y th e re o f. T h e p r o v is io n s o f t h e t r u s t d e e d s e c u r in g t h e b o n d s w e r e m o d i fie d b y s a id a g r e e m e n t d a t e d J u l y 1 1 9 0 7 , a n d a fu r th e r a g r e e m e n t d a t e d J u n e 15 1 9 0 8 b e t w e e n t h e c o m p a n y a n d t h e h o ld e r s o f i t s n o t e s a n d c e r t a in o f t h e h o ld e r s o f Its b o n d s . T h e d e p o s ito r s w ill b e e n title d to r e c e iv e t h e n e w s t o c k o n A p ril 1 1911; t h e y w ill n o t b e e n t it le d to p a r t ic ip a t e in a n y d iv id e n d d e c la r ed p rior to t h a t d a t e u p o n t h e p referred or c o m m o n s to c k o f th e U n ite d S t a t e s L ith o g r a p h C o .— Y . 8 9 , p . 2 2 8 , 106. Denver (Col.) Reservoir Irrigation Co.—Bonds Offered— Status— D . A rth u r B o w m a n , T h ird N a tio n a l B a n k B ld g ., S t . L o u is, w h o h a s r e c e n tly b e e n p la c in g a t p ar a n d in te r e s t a b lo c k o f th is c o m p a n y ’s 6 % seria l g o ld b o n d s (a u th o r iz e d issu e s t a t e d a s 8 3 ,2 0 0 ,0 0 0 , o u ts ta n d in g 8 1 ,2 5 0 ,0 0 0 ) , sa y s : T h e c o m p a n y is s e r v in g a b o u t 4 0 ,0 0 0 a c r e s o f la n d t h is y e a r , s o w e a r e t o ld , a n d t n e S t a n d le y d a m w ill b e c o m p le t e d fo r t h e s e a s o n o f 1 9 1 0 . It Is e s t im a t e d t h a t it w ill h a v e w a t e r a v a ila b le fr o m t h e e n t ir e s y s t e m fo r t h a t s e a s o n o f 1 2 5 ,0 0 0 a c r e s . A t p r e s e n t n in e r e s e r v o ir s a r e o p e r a te d , a ll o f w h ic h a r e u n d e r s t o o d t o b e c o m p le t e d , a s w e ll a s o v e r 1 0 0 m ile s o f c a n a ls . W e a r e w e ll s a tis fie d o f t h e g r e a t m e r its o f t h e p r o p o s itio n . T h e t o t a l a u t h o r iz e d c a p i t a l s t o c k Is $ 1 2 ,0 0 0 ,0 0 0 , c o n s is t in g o f $ 2 ,0 0 0 ,0 0 0 p r e fe r r e d a n d $ 1 0 ,0 0 0 ,0 0 0 c o m m o n , t h e l a t t e r b e in g d iv id e d i n t o $ 4 ,0 0 0 ,0 0 0 ' ‘A ," $ 4 ,0 0 0 ,0 0 0 “ B ” a n d $ 2 ,0 0 0 ,0 0 0 " C .” T h e v o t in g p o w e r Is v e s t e d o n ly In c la s s e s A a n d B o f c o m m o n s t o c k . T h e p a r v a lu e o f a ll s h a r e s Is $ 1 0 0 . T h e o ffic e r s a re: P r e s id e n t , J o s . S t a n d le y ; S e c r e t a r y , O . J . S t a n d le y ; T r e a s u r e r , 10. A . N e r e s h e lm e r , a ll o f D e n v e r , C o l. S e c f u r th e r d e t a ils In V . 8 4 , p . 1 5 5 4 . Gallup (N. M.) Electric Light Co.—Bonds Offered.— T h e J o se p h B a ll C o ., L os A n g e le s , is p la c in g 8 4 0 ,0 0 0 of th e a u th o r iz e d issu e o f 8 5 0 ,0 0 0 first m o r tg a g e 6 % g o ld b o n d s d a te d J u ly 1 1909 a n d d u e J u l y 1 1 9 3 3 , b u t r e d e e m a b le at 110 a n d in te r e s t o n J u ly 1 19 14 or a n y in te r e s t d a te th e r e a fte r . I n te r e s t p a y a b le J . & J . a t M o n te zu m a T r u st C o. (tr u s t e e ) , A lb u q u er q u e, N . M ., S e c u r ity S a v in g s B a n k , L o s A n g ele s a n d C h ase N a tio n a l B a n k , N e w Y o r k C ity . C o u p o n b o n d s of 8 1 ,0 0 0 , 8 5 0 0 a n d 8 1 0 0 . A circu la r s a y s in p art; S t o c k a u t h o r iz e d a n d Issu e d , $ 5 0 , 0 0 0 . B o n d s a u t h o r iz e d , $ 5 0 ,0 0 0 is s u e d , $ 4 0 ,0 0 0 . T h e r e m a in in g $ 1 0 ,0 0 0 b o n d s c a n o n ly b e is s u e d fo r n o t t o e x c e e d in p a r v a lu e 7 5 % o f t h e c a s h c o s t o f p e r m a n e n t e x t e n s i o n s a n d a d d it io n s a n d o n ly w h e n t h e n e t e a r n in g s f o r t h e p r e c e d in g 12 m o n th s a r e a t le a s t t w ic e t h e a n n u a l i n te r e s t o n t h e b o n d s o u t s t a n d in g a n d r e q u e s te d to b e is s u e d . A n n u a l s in k in g fu n d 1 9 1 4 t o 1 9 2 3 , a n a m o u n t e q u a l t o 5% o f t h e b o n d s th e r e t o f o r e Issu ed . 1908. 1907. 1906. 1905. 1904. 1908. G ro ss e a r n in g s _________ $ 1 1 ,9 1 6 $ 1 1 ,7 5 5 $ 1 1 ,5 6 4 $ 1 0 ,9 9 8 $ 1 1 ,9 5 8 $ l f l ,7 5 7 N e t (after o p e r . e x p . ) - . $ 5 ,1 2 0 $ 4 ,5 5 6 $ 5 ,9 5 8 $ 5 ,5 2 7 $ 7 ,9 2 7 $ 6 ,9 4 8 I n t e r e s t o n t h is Is su e , $ 2 ,4 0 0 . C o m p a n y I n c o r p o r a te d u n d e r la w s o f N e w M e x ic o in 1904 a n d s u p p lie s c u r r e n t fo r a ll e le c t r ic lig h t in g In G a llu p , G ib s o n a n d W e a v e r , N e w M e x ic o . P r o p e r ty a p p r a is e d a t $ 5 6 ,4 7 4 e x c lu s iv e o f f r a n c h is e s . C o n sis ts o f 1 5 0 h . p . In e n g in e s , 1 1 2 .5 k . w . in e le c t r ic a l g e n e r a tin g m a c h in e r y ; 10 m ile s o f p o le lin e fr o m w h ic h o n J a n . 1 1 9 0 9 1 8 0 c o n s u m e r s w e r e s e r v e d , w h o h a d I n s ta lle d 2 ,0 0 0 in c a n d e s c e n t la m p s , 2 0 a r c la m p s , 5 h . p . m o to r s a n d 11 c i t y a r c la m p s : lib e r a l f r a n c h is e g r a n t e d b y t o w n o f G a llu p r u n n in g fo r 3 0 y e a r s fr o m J u n e 1 9 0 4 . O p e r a te d b y President Maynard Gunsul, who for four years has been In charge, stock is owned by officers and directors. Entire Gas Traction Co., Minneapolis.— Stock Increased.— T h is M in n e so ta c o r p o r a tio n h a s filed a c e r tific a te c h a n g in g it s c a p ita l s to c k fr o m $ 3 0 0 ,0 0 0 to $ 5 0 0 ,0 0 0 . P . J . L y o n s is P r e s id e n t a n d C h a rles T . T h o m p s o n , S e c r e ta r y . General Chemical Co., New York.— New Plant.— T h e c o m p a n y h a s a r r a n g e d to b u ild a la r g e p la n t a t N e w e ll, P a ., on t h e P it t s b u r g h & L a k e E rie R R ., a b o u t h a lf-w a y b e tw e e n F a y e t t e C ity a n d B r o w n s v ille . T h e s t a t e m e n t th a t th e b u i ld in g s w ill c o st $ 1 ,2 0 0 ,0 0 0 is n o t co n firm e d . The company has now outstanding $12,500,000 pref. and $7,410,300 of its $12,500,000 common stock. The $1,500,000 treasury pref. was recently placed through Speyer & Co.; the treasury still holds $5,089,700 of the common. See list of plants and facts regarding sale of preferred stock providing for the foregoing and other capital requirements In V. 89 p. 351, 289. ’ Great Northern Iron Ore Properties.— Sale of Holdings by Union Pacific RR.— S e e t h a t c o m p a n y u n d e r “ R a ilr o a d s” a b o v e .— Y . 8 8 , p . 1059. Helena (Mont.) Water Works Co.— Bonds for Municipa Plant Defeated.— S e e “ H e le n a ” in “ S t a t e a n d C ity ” D e p a r t m e n t o n a s u b s e q u e n t p a g e .— V . 8 8 , p . 7 5 1 . Independent Telephone Co. of Omaha.— Reorganization Plan.— F . E . E b e r so le , B e n ja m in S . B a k e r a n d S a n fo rd F . H arris h a v e s e n t o u t a c ir cu la r le t t e r u r g in g th e se c u r ity h o ld e r s to su rren d er h a lf o f th e ir h o ld in g s of s to c k a n d b o n d s . The circu la r sa y s: The debts of the com pany as of June 24 1909, exclusive of Its bonds, am ount approxim ately to $400,000. To pay this amount the company has Its plant, equipm ent and franchises, which, if sold at receiver’s sale, would have to go a t bargain prices. The situation Is as serious as It can be, and can only bo saved by a concerted cirort on the part of the bondholders and stockholders, which must necessarily be accom panied by a surrender of a portion of their holdings. [The company, It Is stated, will have, after paym ent of the lloating debt, not less than $300,000 In bonds and $ 1,000,000 in preferred stock, available for extension and developm ent.” The Nebraska Securities Co., If the plan goes through, will endeavor to increase the number of telephones in service from 5,100 to 10,000, and will receive $150 In bonds on each new telephone Installed. The Nebraska Securities Co. was Incorporated recently with $750,000 capital stock by Joseph Harris (President of the Automatic Electric Co. of Chicago, one of the leading creditors of the Independent Telephone Co.) and associates, with a view to taking up the lloating debt and to supply funds for additions. Including an exchange In South Omaha and an exten sion to Florence. Frank E. Ebersole, who was elected President of the telephono company last January, will continue In charge, It Is reported.-— V. 88, p. 1200. Indianapolis (Ind.) Gas Co.— 6 0 -Cent Rate in Effect.— T h e c o m p a n y r e c e n tly m a d e t h e f o llo w in g a n n o u n c e m e n t: The board of directors voted to conform to the requirements of the 60-cent gas law and Instructed the General Manager to announce the uni form rate of (50 cents, applying to all customers. The bills rendered Aug. 1 will be on a basis of 00 cents. This action was taken In consequence of Judge Anderson's refusal to grant a temporary Injunction against the en forcem ent of the law. Compare V. 89, p. 1 0 0 , 40. International Smelting & Refining Co.— Initial Dividend. — T h e c o m p a n y h a s d e c la r e d a q u a r te r ly d iv id e n d o f 1% % o n its $ 1 0 ,0 0 0 ,0 0 0 o f c a p ita l s t o c k , p a y a b le S e p t . 1 1909 to s to c k h o ld e r s o f rec o rd A u g . 2 3 .— C o m p a re V . 8 8 , p . 1624. International Steam Pump Co.— Bonds Authorized.— T h e s to c k h o ld e r s o n T h u r s d a y a u th o r iz e d th e issu e o f $ 1 2 ,0 0 0 ,0 0 0 first m o r tg a g e 5 % 2 0 -y e a r b o n d s , o f w h ic h it h a s b een a r r a n g e d to se ll $ 8 ,5 0 0 ,0 0 0 to W illia m S a lo m o n & Co. C o m p a re V . 8 9 , p . 3 5 2 , 2 9 0 . George W. Jackson, Inc. (Construction, General Engineer ing and Contracting; Bridge, Steel, &c., Works), Chicago.— Pref. Stock Offered.— J . B . R u sse ll & C o ., N e w Y o r k , C h icago, & c ., h a v e r e c e n tly b e e n p la c in g for t h e c o m p a n y a t par ($ 1 0 0 a sh a re ) a n d in te r e s t $ 1 6 0 ,0 0 0 7 % c u m u la tiv e p ref. sto c k . A circu la r sa y s: T otal authorized Issue of pref. stock, $1,000,000; previously Issued at par for cash, $540,000; now being ollered for sale, $100,000; remaining In rcasury, $300,000; surplus from earnings June 30 1909 above 7% paid since organization on outstanding pref. stock, $689,771, Invested in Chicago Duslness rea: estate and buildings. Dividends on the pref. stock are paid H of 1% on the first of each month (January to November) and 1^ % In December. A b stract of L etter from Pres. G. W. Jackson, Chicago, July 31 1909. At the last meeting of the board a plan for the Improvement of the various departments was decided upon, requiring approxim ately $250,000, $100,000 of which will be taken from current earnings, necessitating the selling of only $160,000 additional stock. The purchase (for $25,000) of 183,970 sq. ft. of land adjoining our bridge and steel wmrks will Increase our dock frontage on the Chicago River by 337 ft. and permit the Installation of additional appliances. Introducing economies and Increasing the capacity of this department to an estimate of 4,000 tons per month. This plant enjoys exceptional facilities from our ability to bring steel from Gary, Ind., by our own boats, and after fabrication deliver It to our disposal station In the heart of Chicago. On this property a dry dock will be built at a cost of $45,000, able to accom modate boats drawing 16 ft. of water. This can be kept busy, and all of the fabrication for the construction and repairs of steel boats can be done there. The disposal station requires about $15,000 more for completion. From this station will be operated two self-propelling sea-going steel scows (to be built at a cost of $ 9 0 ,000 ), not only to handle the excavation, <5cc., front the tunnel system and street team s, but for our own use In trans porting steel, concrete, gravel and materials. The expenditure of $10,000 on the brass foundry departm ent, located In one of our buildings at 174 and 176 W. Jackson Boulevard, will largely increase the earnings of this departm ent. , . . ... Our contracting and construction departm ent, by which we are most widely known, has completed for the past few years an average of over $2,000,000 of work per year, and a t this time lias oyer $1,400,000 of busi ness under w ay. This department has a modern plant of ample size and equipment for its present requirements. B a l a n c e S h e e t J u n e 30 1909. L ia b ilitie s ($3,864,563) Assets ($3,864,563) — Pref. stock issued--------------$521,500 L a n d _______________ $337,409 Common stock Issu ed ........ 2,000,000 B u ild in g s__________ 536,759 Mach'y, tools &cqulpm ’t . 342,095 V ouchers & a c c ts . payable. 210,413 W ages a cc ru ed ----------------43,208 Cash, Inventory, accounts receivable ____________ 437,582 Notes p a y ., adv. paym ’ts on contracts, ac’d txes,&c. 375,634 Miscellaneous work In p r o g r e s s ...____________ 182,389 Reserves for ins. & dcprec’n 24,037 S u rp lu s............................. 689,771 Patents and good-will.. 2,028,327 K e lle y I s la n d L im e & T r a n sp o r t C o ., C le v e la n d .— New O h io c o r p o r a tio n on or a b o u t M ay 16 filed a c e r tific a te o f in c r e a se of c a p ita l s to c k from $ 5 ,0 0 0 ,0 0 0 t o $ 6 ,0 0 0 ,0 0 0 . C on trol o f th e C le v ela n d B u ild e rs' S u p p ly C o .h a s b e e n a c q u ir ed th r o u g h p u r c h a s e o f t h e c a p it a l Stock.— Acquisition.— T h is s t o c k (to t a l issu e r ep o rte d a s $ 1 5 0 ,0 0 0 ) for a su m r u m o red a s $ 1 ,0 0 0 ,0 0 0 . A m o n g th e le a d in g sh a re h o ld e r s in th e K e lle y C o. are sa id to be: Caleb E. Gowcn, Norman Kelley, D. C. Cutler of Duluth: VV. A. Pardee, A. S. Chisholm, W. B. Sanders, F. A. Sterling, VV. D. Rees, F. A. Beckwith, L. C. Hanna and G. B. Morley. [The company is a close corporation, furnishing no financial statem ents. It manufactures w hite rock finish, marblehead lump lim e, ground Toledo lim e, agricultural lime, ground lim estone, flux stone, crushed stone and hard-wall plaster. Caleb E. Gowan is President.— V. 82, p. 395. K e o k e e C oal & C ok e C o .— Consolidation.— S e c K c o k e e C o n so lid a te d C ok e C o. b e lo w . K e o k e e C o n s o lid a te d C ok e C o .— Bonds Offered.— G eo . A . F e r n a ld A C o ., B o s to n a n d N e w Y o r k , a re o fferin g a t 8 7 j/fj a n d in te r e s t, th e u n so ld p o r tio n o f th e p r e se n t issu e of $ 1 ,1 0 0 ,0 0 0 “ first a n d r e fu n d in g m o r tg a g e ” s in k in g fu n d g o ld 5% b o n d s d a te d J u ly 1909 a n d d u e J u ly 1 9 5 9 , b u t c a lla b le a t p ar a n d in te r e s t fo r s in k in g fu n d . I n te r e s t p a y a b le J . & J . a t B a n k e r s ’ T r u st C o ., tr u s te e , N . Y . A circu lar sa y s: C a p ita liz a tio n . A u th o r iz e d . Issu ed . Preferred stock, 7% cum ., participating with com mon after both receive 7% . Preferred as to assets. Par $100. Callable at 135............ ....................... .$1,500,000 $1,077,800 Common stock, In $100 shares . . . ___ 2,000,000 1,766,600 "First and refunding .\r.” S. f. from July 1909___ 2,500,000 1 , 1 0 0 ,0 0 0 Purchase money mortgage bonds (Keokee Consol. Coke Co.) interest rate 1909 to 1914, first year, 2%; 2nd year. 3%; 3d year, 4%: thereafter, 5%. Sinking fund eflective July 1 1914 t ,400,000 1,400,000 . . . . ___ The remaining “ first and refunding mortgage bonds," namely, $1,400,000, are In escrow to retire the purchase money mortgage bonds. The “ lirst and refunding mortgage” bonds are a ilrst lien upon the prop erty of tlie Imboden Coal & Coke Co., a corporation In successful operation since January 1903, located In Wise County, Va.; also subject only to a purchase money mortgage of $1,400,000 upon the property of the Keokee Coal & Coke Co., located in Lee County, Va. The Keokee Consolidated Coke Co. (Incorporated In Delaware on June 26 1909.— Ed.) is a consolida tion of the above properties. The company agrees to put aside $25,000 per annum commencing in 1910 until $125,000 has been accumulated, to be Invested in savings bank securities and used solely to pay bond Interest if necessary during buslnes depression. This fund must be made good $25,000 yearly before paying dividends. The properties embrace 9,320 acres owned In fee and 1,046 acres held under lease, and contain 300,000,000 tons of the best quality of bituminous coking coal. The six operating mines are operated by electrictty, their equipment being of the highest standard for economical operation; they have reached a daily capacity of 3,500 tons of coal, or about 1,000,000 tons per annum. There are 532 coke ovens in operation and 193 additional ovens under construction, making a total of 725 ovens, with an annual output capacity of 420,000 tons. The net earnings of the Imboden property, upon which these bonds are a lirst lien, have for the past four years been double the Interest charge on the "Ilrst and refunding bonds,” and equal to the present Interest charge upon the combined properties. E xtracts from Letter of President C. P. Pcrin, New York. June 19 1909. The property acquired from the Imboden Coal & Coke Co. consists of 850 acres of coal land In fee, 325 coke ovens, two miles of railroad in fee, two miles of running right without charge over the Virginia & South western R R ., 200 miners’ houses, three operating mines with a present capacity of 1,500 tons per day. The company has under lease and is oper ating 600 acres of coal land, which, under the terms of the lease, cannot be mortgaged. The bonds, however, are further secured by a ilrst lien upon the Legg lease at Keokee, 346 acres; and a second lien upon the Keokee Coal & Coke Co.’s property, which has acquired by purchase approximately 8,564 acres of coal land in Lee County, Va., and Harlan County, Ky. Average net earnings of Imboden Coal & Coke Co., Including Its llxed charges, taxes, &c., for the four years ending Dec. 31 1908. were $123,836 per annum. Average annual output from January 1905 to January 1909, 223,842 tons of coal and 116,893 tons of coke; average number of coke ovens in operation, about 200. _ The Keokee Coal & Coke Co., situate,(1 at Keokee, Lee County, V a., live miles from Imboden, began operations in January 1908, and Its plant has a capacity of 2,000 tons per day. The Imboden plant Is served by the Louisville & Nashville RR. and the Virginia & Southwestern B y . (recently purchased by the Southern R y.); the Keokee Company by the Virginia & Southwestern, with running privileges to tin: Louisville & Nashville RR. E s t i m a t e d E a r n i n g s . — Estimated earning power, based on a total pro duction of 4,250 tons for 280 working days, should give us 1,190,000 tons of coal annually. The 725 coke ovens will require 600,000 tons of this total for conversion Into coke, leaving for the open market 590,000 tons of coal. From tlds tonnage it Is estim ated th at, at average selling prices, there will be a prollt from the sale of coal and coke of $534,200. After paym ent of Interest and sinking fund, there will be a surplus of $331,350. Sinking fund for "Ilrst and refunding” bonds, July l 1909 to July 1 1014, 6 cents per ton of coal mined; thereafter, an average of 4 cents per ton (2,000 tons) (to July 1919, 3 cents; to July 1024. 4 cents; to July 1929, 5 cen ts). On the est. tonnage tills will retire the cntlro bond Issue In 35 years Directors—C. P. Perin, President; Richard W. Halo and Townsend V. Church, Vice-Presidents; Robert S. Hale, It. S. Plerrepont, It. Burnham Moffat, It. P. Bowler, C. P. Wheeler and A. C. Raym ond.— V. 89, p. 47. K e y s t o n e T e le p h o n e C o .— Report.— 'Y ea r e n d in g J u n e 30: F is c a l Y e a r —• C ross E a r n in g s . N e t over R eserve fo r T a x e s , etc. R e n e w a l s . I n te r e s t C h arges. B a la n c e . S u r p lu s . 1908-09__ $1,073,462 $542,453 $100,000 $312,308 $130,145 1907-08.................. 1,051,072 511,949 100,000 313,112 98,839 Total surplus June 30 1909, after deducting sundry adjustm ents amount ing: to $4,616, was $727,801. Increase in Rates.— T h e c o m p a n y a n n o u n c e s t h a t o n a ll n ew b u sin e ss th e r a te for u n lim ite d se r v ic e w ill h e r ea fte r b e $ 9 0 a y e a r , a n in c r e a s e o f $ 1 0 .— V . 8 9 , p . 4 7 . K ir b y L u m b e r C o .— Timber Certificates Offered.<— B r o w n B r o th e r s & C o ., N e w Y o r k , a re o ffe r in g 6% g o ld tim b e r c e r tific a te s o f $ 1 ,0 0 0 (c * ) a s fo llo w s: a t 9 8 a n d in te r e s t, y ie ld in g 6 .3 0 % , first issu e c e r tific a te s d a te d 1901; a n d a lso a t 99 a n d in te r e s t, y ie ld in g a b o u t 6 .2 5 % , sta m p e d p rior lie n se c o n d issu e c e r tific a te s . A circu la r s a y s in su b s ta n c e : S i x I ’e r C e n t G o l d T i m b e r C e r t i f i c a t e s ( K t r b g C u m b e r C o . ) I s s u e d b y M a r y l a n d T r u s t C o ., T r u s te e . (Secured by direct mortgage Hen on property of Houston Oil Oo. of Texas.) Second Issue, dated 1908. F irst Issue, dated 1901. Series. A m ount. Due. A m o u n t. 1910 A ------------ $500,000 Aug. 1 1913 $470,000 Feb. M ___ 1910 B --------- . 500,000 Feb. 1 1914 400.000 Aug. N ___ 1011 C --------- . 500,000 500.000 Feb. Aug. t 1911 O__ 500,000 Feb. 1 1915 520.000 Aug. 1 1011 D -----------P ___ Feb. 1 1912 E -----------500,000 Aug. 1 1915 660.000 Q --500,000 Feb. 1 1916 680,000 Aug. 1 1912 F .............. .. R ___ 500,000 Aug. 1 1916 505,000 Feb. 1 1913 G -----------S ___ S e r ie s T otal__ $3,825,000 (Int. F. & A.) T otal. ..$3,500,000 (Int. F. & A.) Redeemable at 105 and Interest on any Interest day on 60 days’ notice, In the order of the series, out of the surplus funds received under the contract. L ie n .— These bonds are certificates of beneficial Interest In a contract for the purchase of lumber between the Kirby Lumber Oo. and the Houston Oil Oo., and are Issued by the Maryland Trust Co., a s trustee. Litigation between the Kirby Lumber and Houston Oil companies as to the Interpretation and execution of the contract was brought to a close July 28 1908 by a decree of the United States Circuit Court for the Southern District of Texas, construing the contract and establishing the lights of the parties thereto. Under this decree the timber certificates are given a mortgage Hen ahead of all other debts and claims upon all the lands anu other property of the Houston Oil Co. and upon the contract with the K'1n \a s e 'o f d efa u lt by the Kirby Lumber Co. in ®frt hc contract, not made good by the Houston Oil Co., the \faryland frust Co., trustee, Is given the right to foreclose upon the property, or to hold anu operate the mills until the certificates arc pa d. . P r o p e r t y .— The property of the Houston Oil Co. fonslsta o l J t .lllj 800,000 acres of long leaf yellow pine t i m b e r n Soutlneasteiin lexas.a n d Louisiana, estim ated (In 1901) to contain 6,400,000,000 feet;of^nierchant able pine, 150,000,000 feet of oak, large quantities of cypress, including also certain oil lands. The contract as construed by the Court obllgcs the Kirby Lumber Co. to purchase a t least 250,000,000 feetof'pinei per anmim until July 1911, 281,250,000 feet per annum for the next uvf9 .\ Af tTioso thereafter 312,500,000 feet per annum, a t $■> per 1,000 feet. Out of these paym ents the principal and Interest of the ce” u'cates are to be discharged. hmu, iicjp i o i.» gfl vr-tnillfi and of about 165 miles of tram loan anu equipm ent operand by the Kirby Lumber Co. is also pledged under these certificates of the first issue, together 5442,875 stamped second Issue certificates, do not exceed $1 25 mated 1,000 feet of pine timber remaining, and the total of the second Issues of certificates Is not to exceed $2 2o. The lumber paid for a t the rate ofj$5 per 1,000 feet. ^ T i m b e r C e r t i f i c a t e f t.— T h e O rd e r in with the P eresU j Irst and Is cut as W h ic h th e C e r t i f i c a t e s H a n k a s to L i e n . Stamped second Issue certificates (issued to the trustee foi its expenditures during the litigation)— .. -------------i *?“, ’nno First Issue certificates........................... .................................................... Unstamped second Issue certificates------------- --------------- ,i,u .)/,i-.) The amount of the first Issue certificates originally outstanding was S7 025 000 of which S3,200,000 have been retired. The amount of the first and second Issues now outstanding is $7,325,000 There may be issued from time to time under the terms of the decree. Interest certificates to an aggregate amount of SI ,762,950, provided the installm ents of principal and interest on the existing certificates are regularly met. These interest certificates will fall due Aug. 1 1913 to Feb. 1 1917, and will be of equal lien with the unstamped second Issue certificates. The aggregate amount or certificates of all classes now outstanding Is at the maximum ana will steadily decrease. The contract proceeds from the pine timber at $o per 1,000 feet arc now estim ated at about three tim es the par value of the certificates. ,, During the litigation principal and interest on outstanding certificates were met. with slight delay.— V. 89, p. 107. L a k e S u p e rio r e n d in g J u n e 30: F t seal C o r p o r a tio n .- - R e c e ip ts fr o n t— M is c . I n i. Year— r > i v s . & I n t . 1998-09.. ..$ 5 0 1 ,4 2 4 1907-08. . 491,613 1906-07. . 527,982 $65,087 75,033 150,029 -Report.— F o r Total Receipts $566,511 566,616 678,011 G en. E x p . T a x e s ,& c . fiscal I n t. on 1st M . --------$543,516------63,522 475,225 118,381 500,000 . ■ year B a la n c e , S u r p lu s . $22,995 27,869 29,630 No Dividend on Incomes.— T h e d ir ec to rs on T h u rsd a y d e c id ed t h a t th e r e w a s n o in c o m e a v a ila b le fro m th e ea rn in g s o f th e la t e y e a r for a p a y m e n t o n th e in c o m e b o n d s . N o d is tr ib u tio n h a s b e e n m a d e sin c e 1 9 0 6 .— V . 8 8 , p . 1502. L o w e r Y a k im a I r r ig a tio n C o ., S e a t t l e .— Bonds Offered. C a rsten & E a r le s, S e a t t le , a re offerin g $ 8 0 ,0 0 0 first m o r tg a g e 8 % g o ld b o n d s of $ 1 ,0 0 0 e a c h , d a te d J u n e 1 1909 a n d d u e in series o n J u n e 1, $ 2 5 ,0 0 0 in 1 9 1 1 , $ 2 5 ,0 0 0 in 1912 a n d $ 3 0 , 0 0 0 in 1 9 1 3 , b u t s u b je c t to r e d e m p tio n a fte r D e c . 1 191 0 at 1 0 5 a n d in te r e s t. T o ta l is s u e , $ 1 0 0 ,0 0 0 ; b a la n c e , $ 2 0 ,0 0 0 , r eser v ed for fu tu r e b e t t e r m e n t s a n d e x t e n s io n s . P r in c ip a l a n d in te r e s t (J . & D .) p a y a b le a t P u g e t S o u n d N a tio n a l B a n k , S e a t t le , in N e w Y o r k e x c h a n g e . A c ircu la r sa y s: The purpose of thin bond issue Is to discharge purchase price and construc tion Indebtedness and leave the company the owner of a complete urina tion plant (located in Henton County, W ash., near Kennewick, In the lamous Yakima Valley, bordering the Columbia R iver), subject only to tins bond offering and unmatured land obligations. The trustee (Central liu st Co., Seattle) Is required to retain as sinking fund 25% of all money recelvea. The mortgage covers assets aggregating $943,800, viz.: Irrigation Plant, dam on Yakim a Klver, ditches, &c., $100,000: 6,900 acres of fruit lands owned In fee sim ple and by purchase contracts, with water rights appurte nant thereto, $690,000; less deferred paym ents not yet due, $7.>,00u, $615,000; 4,400 acres (estimated) excess water rights not y et appropriated, a t $52 per acre, $228,800. [Capital stock is $150,000, in S100 shares. President, M. E. Downs; Vice-Pres., O. K. Allen: Sec., S. H . Kerr. Com pany incorporated in 1908 In State of W ashington.— Ed.] N a tio n a l E n a m e lin g & S ta m p in g C o .— Report.— F o r y e a r e n d in g J u n e 3 0 , a s r ep o rte d in th e d a ily p ap ers: Fiscal Gross N et In t. on 7% on Balance, Profits. Profits. I s t M . B d s . P re f.S tk . S u r .o r D e f. Year__ 1908-09 $1,359,191 $807,407 $39,583 $598,202 sur.$ 169,562 1907-08 I--867,293 311,822 52,214 598,202 (let .338,654 The regular annual dividend of 7% on the pref. stock lias been declared, payable in four quarterly installments of l% % each, beginning Sept. 30 1909.— V. 89, p. 49. $320,000; par, $1. This stock is to be given to shareholders of the Ohio Fuel Supply Co., share for share (the Ohio Fuel Supply Co. has outstanding 320,000 shares of 325 each), and Is the long-expected melon which has had much to do with the advance In the stock to $44. Virtually there will be no change, as the Ohio Fuel Supply Co. controlled the property before the formation of the new company as It does at present. (Compare Columbia Gas & Electric Co. deal In V. 89, p. 227.)— V. 89, p. 39, 48. P a s s a ic S t e e l C o .— Sale Deferred.— L a w r e n c e F a g a n o f H o b o k e n , th e p u r c h a s e r a t th e r e c e n t s a le , h a s a p p e a le d to th e U . S . C ircu it C ou rt a t P h ila d e lp h ia fro m th e d e c is io n s e t t in g a sid e th e sa le . T h e a p p e a l, w h ic h c a n n o t b e h ea rd b e fo r e O cto b er , o p e r a te s a s a s t a y , a n d th e s a le , w h ic h w a s to h a v e ta k e n p la c e o n J u ly 3 0 , w ill b e d e fe rr ed u n til th e a p p e a l is d e c id e d .— V . 8 8 , p . 1 5 0 3 . P h ila d e lp h ia E le c tr ic C o .— Quarterly Dividend.— T h e d i r e c to r s o n A u g . 10 d e c la r ed a q u a r te r ly d iv id e n d of !>•>% , p a y a b le S e p t . 15 to sh a re h o ld e r s o f record A u g . 2 0 . T h e a n n u a l r a te is 6 % a s h e r e to fo r e , b u t t h e d is tr ib u tio n s fro m n o w o n w ill b e q u a r te r ly in s t e a d o f s e m i-a n n u a lly . F o r th e h a lf-y e a r e n d e d J u n e 30 1909 th e e a r n in g s, i t is s t a t e d , sh o w a v e r y s a tis fa c to r y in c re a se o v e r la s t y e a r , b o th a s to g r o ss a n d n e t .— V . 8 8 , p . 1317. R o c k la n d L ig h t & P o w e r C o ., R o c k la n d C o u n ty , N . Y . — Bonds.— T h e P u b lic S e r v ic e C o r p o r a tio n , S e c o n d D is tr ic t, h a s a u th o r iz e d t h e c o m p a n y to issu e $ 1 0 0 ,0 0 0 5 % b o n d s , u n d e r its m o r tg a g e d a te d D e c . 7 1 9 0 6 , a t n o t le s s th a n 9 0 , a n d to d isc h a r g e th e $ 5 0 ,0 0 0 b o n d s o f th e N y a c k G as L ig h t & F u e l C o. (m e r g e d ), a n d for e x te n s io n s a n d im p r o v e m e n t s . S e e V . 8 8 , p . 104. S t r e e t R a ilw a y & I llu m in a t in g P r o p e r t ie s , B o s t o n .— Liquidated.— T o c o m p le te o u r reco rd it s h o u ld b e s t a t e d th a t on M arch 2 3 190 9 t h e sh a r e h o ld e r s v o t e d t o t e r m in a t e th e tr u s t a n d t o d e c la r e a fin al d iv id e n d o f $1 8 2 t o sh a r e h o ld e r s. — V . 83, p . 327. T id e w a t e r S te e l C o ., P h ila d e lp h ia .— Sale Postponed.— T h e sa le a d v e r tis e d for A u g . 3 h a s b e e n p o s tp o n e d a n d , it is s a id , w ill p r o b a b ly b e h e ld e ith e r S e p t . 14 or 1 5 .— Y. 8 9 , p . 1 08. T r u s t e e s o f C o lu m b ia C o lle g e in C ity o f N e w Y o r k . —Bond Issue.— T h is c o r p o r a tio n r e c e n tly m a d e a n is s u e o f $ 3 ,0 0 0 ,0 0 0 4 % g o ld b o n d s d a te d J u n e 1 1909 a n d d u e J u n e I 1 9 3 9 . se c u r ed b y m o r tg a g e to th e U n ite d S t a t e s T r u s t C o. o f N e w Y o r k , a s tr u s te e . U n it e d Oil & R e fin in g C o .— Receivership.— In th e 5 8 th D is tr ic t C ou rt a t B e a u m o n t o n J u ly 27 J u d g e W . H . P o p e a p p o in te d F . M. L a w , C ash ier o f t h e C o m m ercia l B a n k , a s r e c eiv e r o f th e c o m p a n y ’s p r o p e r ty , on a p p lic a tio n o f G eo rg e W . C arroll, h o ld er o f a n o v e r d u e n o t e o f $ 1 0 ,0 0 0 , o n th e g r o u n d o f in s o lv e n c y . T h e c o m p a n y c o n te n d e d th a t it w a s e n tir e ly s o lv e n t, t h o u g h te m p o r a r ily s h o r t o f fu n d s . A c c o r d in g ly o n A u g . 7 t h e r ec e iv e r s h ip w a s d is s o lv e d , b u t w a s im m e d ia te ly r e -e sta b lish e d w ith Mr. L a w a s r ec eiv e r, o n c h a r g es o f m ism a n a g e m e n t. “ D a lla s N e w s ” o f J u ly 2 9 said : The company was organized In 1903 with a capital of $500,000. Alfred . Glasler of Boston Is President; J. S. MaeNamara of Beaum ont, V ice President. and James Milne of Boston. Secretary and Treasurer. It Is said the company has an Investment of $750,000 in the refinery south of the city, a pipe line to Sour Lake, an interest In a pipe line from Beaumont to B at son, and a canal from the plant to the Neehes River. The refinery has a c a pacity of about 3,000 barrels of oil per day.— V 79, p . 632. a V ic to r -A m e r ic a n F u e l C o .— Consolidation.— T h is c o m p a n y w a s in c o r p o r a te d u n d e r th e la w s o f M ain e on A u g . 3 w ith 8 7 ,5 0 0 ,0 0 0 c a p ita l s to c k in sh a re s o f $ 1 0 0 e a c h , for th e p u rp o se , it is b e lie v e d , o f ta k in g o v e r t h e p r o p e r ty o f b o th th e V ic to r F u e l C o. o f C olorad o a n d t h e A m e ric a n F u e l Co. of N e w M ex ico . T h e n ew c o m p a n y , it is r u m o r e d , w ill issu e b o n d s to th e a m o u n t of $ 5 ,0 0 0 ,0 0 0 . T h e o ffice rs are: President, G. IV. Bowen; Vice-President and Manager of the milling de partm ent, W. J. Murray; Vice-Pres.. W. H. Huff; Vice-Pres. and Sec.. S. I. lleyn; Treas. G. F. Bartlett Jr.; General Counsel. Caldwell Ycamaii- V ic to r F u e l C o .— S e e V ic to r -A m e r ic a n F u el C o. a b o v e . Earnings.— F o r fiscal y e a r e n d in g J u n e 30: N a tio n a l S u g a r M a n u fa c tu r in g C o .— Bonds Called.— O ne Fiscal N et Other F ixed D epr'n Balance, Production (ions) Year— Income. Income. Charncs. Reserve. S u rp lu s. Coal. Coke. h u n d re d a n d fifty first m o r tg a g e b o n d s , o f v a r io u s n u m b e rs ..$398,591 $65,430 $141,970 500,888 $255,163 1,394,033 93,382 r a n g in g fro m 3 to 1 4 8 8 , w e re c a lle d for p a y m e n t a t 1908-09. 1907-08 568,090 75,881 149,115 77,073 417,783 1,649,722 76,592 105 a n d in te r e s t on A pril 1 a t th e o ffic e o f th e B u ffa lo L o a n , —V . 85, p. 1459. T r u s t & S a fe D e p o s it C o ., th e m o r tg a g e tr u s te e . F ra n cis V irg in ia -C a ro lin a C h em ic a l C o .— Listed.— T h e N e w Y o rk K . C a rey is P r e s id e n t a n d E d w a r d P . H ill S e c r e ta r y . S to c k E x c h a n g e h a s lis te d th e $ 1 2 ,0 0 0 ,0 0 0 first m o r tg a g e (W . K.) N iv e r C oal C o .— Record of Sale.— A t r e c e iv e r ’s 5% b o n d s d u e 1923 (se e V . 8 7 , p . 1 3 6 1 ) .— Y. 8 9 , p . 2 2 0 , 2 3 0 . sa le o n A p ril 16 the. p r o p e r ty w a s b id in b y J . V . M cD o n a ld W e s t in g h o u s e E le c tr ic & M a n u fa c tu r in g C o .— Dividend o f N e w Y o r k fo r $ 2 0 0 ,0 0 0 — V . 8 1 , p . 1 4 3 5 . Talk.— In v ie w of th e la rg e e a rn in g s o f t h e c o m p a n y s in c e th e N o r th A m e r ic a n S m e lte r & M in e s Co .—Bond Issue.— A c lo se of th e fiscal y e a r , o n M arch 31 la s t ( t h e e a rn in g s la s t m o r tg a g e h a s b e e n m a d e to th e C en tral S a v in g s B a n k & m o n th h a v in g , it is s a id , b e e n a b o u t $ 3 ,0 0 0 ,0 0 0 , t h e la r g e st T r u st C o. o f D e n v e r , c o v e r in g th e D o n a ld s o n a n d C en tu rio n in t h e h is to r y o f t h e c o m p a n y ) , it is g e n e r a lly e x p e c te d t h a t g r o u p o f m in e s, n ea r I d a h o S p r in g s, to se c u r e $ 5 0 0 ,0 0 0 th e d ir ec to rs w ill in t h e n ear fu tu r e ta k e s te p s to p a y u p th e b on d s; d e n o m in a tio n s $ 2 5 0 , $ 5 0 0 a n d $ 1 ,0 0 0 , s u b je c t to a c c u m u la te d d iv id e n d s o n th e $ 3 ,9 9 8 ,7 0 0 p referred s t o c k , I f t h e p a y m e n t is m a d e r e d e m p tio n o n a n d a fte r J u ly l 1912 u p o n g iv in g s i x t y d a y s ’ a m o u n tin g J u ly 10 la s t to 12 o n O c t. 10, th e n e x t q u a r te r ly p e r io d , 14% w ill b e d u e , n o tic e . O a k la n d W a te r C o .— Decision.— T h e C a lifo rn ia S t a t e in c lu d in g th e p r e se n t q u a rte r , c a llin g for a d isb u r se m e n t o f S u p r em e C ou rt r e c e n tly r e v e r se d th e d e c is io n o f th e low er a b o u t $ 5 6 0 ,0 0 0 .— V . 8 9 , p . 2 2 0 . W h itm a n M ills o f N e w B e d fo r d .— Dividend Increase.— T h e Court, h a n d e d d o w n in 1901, in t h e s u it o v e r th e o r d in a n ce c o m p a n y h a s d e c la r ed a q u a r te r ly d iv id e n d o f 2 J^ % o n its fix in g th e w a te r r a te s for th e y e a r b e g in n in g J u ly 1 1 9 0 0 . T h e r a te in t h e p a s t h a s b e e n The lower Court decided the company was entitled to an Income on a $ 2 ,0 0 0 ,0 0 0 o f c a p ita l s t o c k . valuation of $7 ,0 0 0 ,0 0 0 , which was substantially what the engineers 2% q u a r te r ly . In c o r p o r a tio n in M a ssa c h u se tts in 1 8 9 5 . of the company claimed the works were worth, those for the city valuing N o b o n d s . O fficers: P r e s id e n t, C h arles L . H a r d in g , a n d the same a t about $3,000,000. The Supreme Court holds the higher valuation Is not warranted, and the case will presumably be rc-trled by C lerk , E d w a rd B u r b e c k , B o sto n ; T r ea su r er , A lb e r t G . the lower Court.— V. 69. p. 1106. ^ M a so n , N e w B e d fo r d . O hio F u e l S u p p ly C o .— Distribution to Shareholders.— T h e (H e n r y R .) W o r th in g to n C o .— Bonds Authorized.— T h e “ P itts b u r g h G a z e tte ” o f A u g . 12 said : sh a r e h o ld e r s o n A u g . 7 a u th o r iz e d t h e d ir ec to rs to issu e IHds arc recorded In the local market of $2 a share for stock of the United Fuel Oil Co. "when issued." The company is a new underlying company $ 2 ,0 0 0 ,0 0 0 5 % n o te s to r efu n d th e 6 % n o t e h e ld b y th e Of the Ohio Fuel Supply Co. anti Is to take over the oil properties of that I n te r n a tio n a l S te a m P u m p C o. T h e la tte r w ill d e p o s it t h e corporation In West Virginia through the United Fuel Gas Co. (V. 87, 1305), the old un deriving company. The stock of the new company ?s n o t e s u n d e r it s n e w m o r tg a g e .— V . 8 9 , p . 2 9 1 . ;ratJ S o n ira m is BUFFALO ROCHESTER & PITTSBURGH RAILWAY COMPANY. T W E N T Y -F O U R T H A N N U A L R E P O R T — F O R Y E A R E N D IN G J U N E 30T H 1909. T h e D ir e c to r s o f th e B u ffa lo R o c h e s te r & P itts b u r g h R a il w a y C o m p a n y s u b m it to th e S to c k h o ld e r s t h e fo llo w in g r e p o r t fo r t h e y e a r e n d in g J u n e 30 1909: T h e n e t r esu lt is a n in c re a se o f $ 8 5 2 ,0 0 0 in th e b o n d e d d e b t o f th e C o m p a n y o u ts ta n d in g J u n e 3 0 19 0 9 . C O N S T R U C T IO N . ROAD O PER ATED. O w n ed .__________________ _____ __________ Leased ----------------------------------------------- . . Trackage rights__ ___________________ . . 1909. M iles. 347.13 94.00 126.66 1908. Increase. M iles. M iles. 347.13 — 94.00 126.66 567.79 101.08 81.63 280.94 567.79 91.89 81.63 280.00 '".94 T otal miles of all tracks, all steel rail______ 1,031.44 1,021.31 10.13 Total length of road operated_________ Second track (owned)_________________ . . Second track (trackage rights)__ . . ______ Sidings (owned and leased)___ _______ . . 9+ 9 T h e se c o n d tr a c k w a s in c r e a se d b y th e a d d itio n of 9 .1 9 m ile s c o n str u c te d b e tw e e n C arm a n , P a ., a n d B r o k c w a y v ille , P a ., m a k in g a t o ta l o f 1 8 2 .7 1 m ile s o f se c o n d tra ck , or 3 2 .1 8 p e r c e n t o f t h e m ile s o f road in o p e r a tio n . IN C O M E . 1908* R ail Operations— 1909. Operating revenue*___________ 57,171,896 85 57,484,027 90 Operating expenses___________ 4,665,170 93 5,350,659 71 N et operating revenue____ 52,506,725 92 52,133,308 19 Outsiile Operations— 513,674 07 T otal revenues......................... 514,514 82 10,445 17 Total expenses_______________ 15,149 19 N et revenue____________ N et deficit____________________ 53,228 90 ________ 563437 Total net revenue___________ 52,506,091 55 52,136 ,597 175 ,248 Taxes a ccru ed ................ 133,000 00 Operating Incom e__________ 52,373,091 55 $1,961 ,348 826 ,102 Other Income_________________ 436,812 97 Gross corporate Income__ 52,809,904 52 52,787 .450 Deductions lor Interest and 1,751 258 rentals ______ 1,767,482 25 09 34 75 02 + 5411,742 80 — 389,289 05 77 + 522,453 75 77 + 10,223 48 51,036 ,192 00 13 ,202 85 + 56,230 27 — 710 19 Surplus available for d lv ’d s .51,029,938 61 51,022,989 15 + 5G,949 46 *N ote.— The figures for the fiscal year 1908 total the same as the figures published In the annual report for that year; but, to adm it of comparisons, they have been re-cast to agree with the changes prescribed by the Inter State Commerce Commission, ellecttve July 1 1908. O th er In c o m e s h o w s a d e c r e a se o f $ 3 8 9 ,2 8 9 05; o f th is a m o u n t $ 3 6 9 ,9 2 2 8 6 w a s in H ire o f E q u ip m e n t . T h is w a s d u e in p a r t to th e c h a n g e in t h e per diem r a te referred to in la s t y e a r ’s rep o rt; a n d in p a r t to th e fa llin g off in coal a n d c o k e s h ip m e n ts , a s a r e s u lt o f w h ic h a n a v e r a g e o f 3 2 .6 3 % o f th e fr e ig h t s e r v ic e c a rs w e re id le d u rin g th e year. I n te r e s t o n B a la n c e s , & c ., d e c re a se d $ 5 4 ,4 4 5 7 6 , w h ile th e r e w a s a n in c r e a se in D iv id e n d s o n S to c k s o w n ed of $ 1 9 ,9 7 6 a n d a n e t in c r e a se fro m o th e r so u r c e s o f $ 1 5 ,1 0 3 57 . T h e in c re a se in t h e “ D e d u c tio n s for in te r e s t a n d r e n ta ls ” is c h ie fly d u e to th e in te r e s t r e q u ir e m e n ts o f th e n e w C on s o lid a te d B o n d s is s u e d . D IV ID E N D S . Total ......................$16,500,000 1909. 6% 560,000 4% 420,000 $780,000 1908. Decrease. 6% $360,000 _____ 5% 525,000 $105,000 $885,000 $105,000 S in c e th e c lo s e o f th e fiscal y e a r , y o u r B o a r d of D ir ec to rs h a s d e c la r ed a s e m i-a n n u a l d iv id e n d of th r e e p er c en t o n t h e p referred s to c k a n d tw o p er c e n t o n th e co m m o n s t o c k , b o th p a y a b le A u g u s t 15 1 9 0 9 . C A P IT A L ST O C K . T h e r e h a s b een n o c h a n g e d u r in g th e y e a r in th is a c c o u n t. T h e to ta l o u ts ta n d in g C a p ita l S to c k o f th e C o m p a n y a m o u n ts to $ 1 6 ,5 0 0 ,0 0 0 a n d c o n s is ts o f $ 6 ,0 0 0 ,0 0 0 p referred sto c k a n d of $ 1 0 ,5 0 0 ,0 0 0 c o m m o n s t o c k . FUNDED DEBT. U n d e r th e te r m s o f t h e S in k in g F u n d s fo r th e r ed em p tio n of E q u ip m e n t B o n d s $ 3 6 5 ,0 0 0 b o n d s w e re r e tir e d , a s fo llo w s: $ 1 1 2 ,0 0 0 S eries D , $ 8 1 ,0 0 0 S eries E , $ 1 7 2 ,0 0 0 S eries F . E q u ip m e n t b o n d s , S c r ie s F , a u th o r iz e d in 19 0 7 , w ere issu e d t o th e a m o u n t of $ 5 2 ,0 0 0 . T h e C o m p a n y p u rc h a sed a n d c a n c e le d $ 5 7 0 ,0 0 0 C on s tr u c tio n & I m p r o v e m e n t 4 ^ % N o t e s , le a v in g $ 3 6 0 ,0 0 0 to b e retired a t m a tu r ity , A u g u s t 1st 1909; fu n d s for th is p u r p o se w e re , a t t h e c lo s e o f th e fiscal y e a r , o n d e p o sit w ith th e C entral T r u st C o m p a n y o f N e w Y o r k a s T r u ste e u n d e r th e C o n so lid a ted M ortgage. T h e r e w e re issu ed $ 1 ,7 3 5 ,0 0 0 C o n so lid a te d M o rtg a g e 4J^ % b o n d s to r ep la ce a lik e a m o u n t o f u n d e r ly in g o b lig a tio n s , in a c c o r d a n c e w ith th e p r o v isio n s o f th e M o rtg a g e. L a n d ______________________________________________________ $22,050 91 Elimination of grade crossings_______________________________ 35,520 94 Shops and machinery_______________________________________ 16,048 12 Fuel Station, Crcekslde, P a _________________________ 10,159 25 Water storage reservoir, Crcekslde, P a_____________________ 30,603 03 Other water stations________________________________________ 1,904 66 Sidings and yard extensions________________________________ 38,223 92 Second track, ISrockwayvllle to Carman, P a_________________ 365,735 48 Second track, Cloe, P a ______________________________________ 15,249 15 Improving bridges and culverts_____________________________ 10,765 18 Increased weight of rail______ 7,812 02 Other Items_________________________________________________ 6,551 68 T o t a l..........................................................................................................$560,630 34 T h e n e w d o u b le tr a ck b e tw e e n B r o c k w a y v ille , P a ., a n d C arm a n , P a ., 9 .1 9 m ile s in le n g th , referred to in la s t y e a r ’s r e p o r t, w a s c o m p le te d a n d tu r n e d o v e r to th e O p e ra tin g Increase ( + ) o’" Decrease (— ) D e p a r tm e n t on J a n u a r y 8 1909. — 5812,131 05 A c tin g u n d e r th e L a w s o f th e S t a t e o f N e w Y o r k , y o u r — 685,488 78 C o m p a n y jo in e d w ith th e N e w Y ork C en tral & H u d so n + 5373,357 73 R iv e r R a ilro a d C o m p a n y in b u ild in g a n im p o r ta n t s u b w a y + 5840 75 in th e to w n o f G a tes, n ea r R o c h e ste r , N . Y ., th e r e b y e lim in + 4,704 02 a tin g a d a n g e r o u s g ra d e c ro ssin g . A w a te r sto r a g e reser v o ir w a s b u ilt a t C reck sid e, P a ., — 53,863 27 to p r o v id e a p u re w a te r s u p p ly for lo c o m o t iv e s . In a d d itio n , a n u m b e r of m in o r im p r o v e m e n ts w e re + 5309,494 40 — 542,248 34 m a d e in o th e r d ir e c tio n s to in c r e a se th e fa c ilitie s of y o u r p r o p e r ty . Net corporate income____ 51,042,422 27 Appropriation to pension fund 12,483 66 Dividends In cash wore paid on— Preferred Stock . . . . 56,000,000 Common S t o c k _____ 10,500 000 T h e r e w a s e x p e n d e d th is y e a r for a d d itio n s a n d b e tte r m e n ts to y o u r p r o p e r ty $ 5 6 0 ,6 3 0 3 4 , w h ic h a m o u n t w a s tr a n sfe rr e d to c a p ita l a c c o u n t . T h e it e m s a re a s fo llo w s: E Q U IP M E N T . E x p e n d itu r e s w ere m a d e for n e w r o llin g s to c k a s fo llo w s: Three passenger train cars...................................................................... 520,672 21 Two freight service cars_____________________________________ 1,499 00 One snow plow--------------------------------------------------------------------3,159 01 Sundry betterments, air brakes, &c., Including transfer of one coach, three stock and fifteen freight cars_________________ 84,734 18 $110,064 40 O f t h e a b o v e e q u ip m e n t, tw o fr e ig h t se r v ic e cars w e re b u ilt a t th e C o m p a n y ’s s h o p s . T h e a c c o u n t w a s c r e d ite d for e q u ip m e n t so ld , tra n sferred or d e s tr o y e d w ith th e fo llo w in g ite m s c h a rg ed to o p e r a tin g e x p e n se s: One locom otive..................................................... $3,562 02 One c o a ch ................ 2,206 13 One hundred and forty-four freight service cars_________________ 43,382 67 T h e a c c o u n t w a s fu r th e r c r e d ite d w ith t h e e n tire a m o u n t ch a rg ed to o p e r a tin g e x p e n s e s for d ep reciation ----------------------------------------------------------------------------- 232,227 60 $281,378 42 Making a net credit in the Replacement of Property-Equipment A ccou ntof___________________________________________________ $171,314 02 A ll ca rs in fr eig h t s e r v ic e a re n o w p r o v id e d w ith a u t o m a tic co u p lers a n d 9 6 .8 5 p e r c e n t o f th e cars is e q u ip p e d w ith air b r a k e s. . . T h e c o st o f all E q u ip m e n t p u r c h a s e d , b u ilt or o th e r w ise a c q u ir ed is c h a rg ed to “ R e p la c e m e n t o f P r o p e r ty -E q u ip m e n t ” a c c o u n t. W h en r o llin g s to c k is d e s tr o y e d or o th e r w ise d isp o se d o f, O p e r a tin g E x p e n s e s a re c h a r g ed , a n d “ R e p la c e m e n t o f P r o p e r t y - E q u ip m e n t ” a c c o u n t c r e d ite d . T h is a c c o u n t is fu r th e r c r e d ite d w ith th e a m o u n ts ch a rg ed e a ch m o n th to o p e r a tin g e x p e n s e s for d e p r e c ia tio n . T h e r esu lt for th is y e a r is a c r e d it b a la n c e o f $ 1 7 1 ,3 1 4 0 2 , carried on th e G en eral B o o k s a s a “ R e s e r v e .” PA SSEN G ER R E V E N U E S. T h e a v e r a g e r a te r e c e iv e d p er p a s se n g e r p e r m ile in crea sed 1 2 2 -1 0 0 th s o f a m ill, b e in g 1 .9 7 6 c e n ts a s co m p a red w ith 1 .8 5 4 c e n ts a y e a r a g o . T h e C ou rts o f P e n n s y lv a n ia g r a n te d to y o u r C o m p a n y a p e r m a n e n t in ju n c tio n a g a in s t t h e e n fo r c e m e n t o f th e tw o -c e n t-p e r -m ile law ; a n d on F e b r u a r y 1st 1909 th e form er r a te o f t w o a n d o n e -h a lf c e n ts p er m ile w a s resto r e d . T h e a v e r a g e d is ta n c e e a c h p a s se n g e r w a s carried d e c rea sed 1 .7 4 m ile s, b e in g 2 9 .5 5 m ile s, a g a in s t 3 1 .2 9 m ile s la s t y e a r . Passengers carried In 1909....................................................................... Passengers carried In 1908........................................................ ............. 1,520,119 1,619,635 A decrease of 6.14 per cent, or_____________________________ 99,516 Passengers carried one mile In 1909__________________________ 44,914,997 Passengers carried one mile In 1908__________________________ 50,680,253 A decrease of 11.38 per cent, or____________________________ T h e r e s u lt is a revenu es. 5,765,256 lo ss o f $ 5 2 ,2 0 9 0 2 in g r o ss p a sse n g e r F R E IG H T R E V E N U E S . T h e a v e r a g e s for th e p a s t te n y e a r s are a s fo llo w s: T h e a v e r a g e r a te r e c e iv e d p er to n p er m ile d e c re a se d 7 -1 0 0 th s o f a m ill, b e in g 4 8 2 -1 0 0 m ills, a s c o m p a r ed w ith 4 8 9 -1 0 0 m ills la s t y e a r . T h e a v e r a g e d is ta n c e e a c h to n w a s h a u le d in c re a se d 10 3 0 -1 0 0 m ile s, b e in g 155 4 4 -1 0 0 m ile s , a g a in s t 145 1 4 -100 m ile s a y e a r a g o . T h e w id e sp re a d d e p r e ssio n in th e c o a l a n d c o k e b u sin e ss c o n tin u e d u n til th e la s t t w o m o n th s o f t h e y e a r , r e s u ltin g in a d e c re a se o f th e e a rn in g s fr o m t h a t tr a ffic o f $ 3 5 9 ,0 6 8 7 3 . O th er c o m m o d itie s sh o w a n e t g a in o f $ 2 2 ,3 0 6 6 4 , a r isin g fro m a n in c re a se d to n n a g e in iro n ore a n d p ig iro n . T h e r e v e n u e to n n a g e m o v e d w a s a s fo llo w s: Bitum inous coal------- ---------- __ C o k e ---------- ------------------------- - _ Iron ore __ . - - _ _ _ _ _ _ Pig anil bloom Iron. _ _ ----- _ _ _ Other freight_____________ 1909. 5,180,013 301,386 466,956 192,137 1,862,468 Increase c + 1. or Decrease (— ) 1908. — 663,197 5,849,240 — 175,500 476,886 + 83,683 383,273 + 70,228 121,909 — 239,823 2,102,291 . 8,008,990 8,933,599 924,609 A decrease of 10.35 per cent, or_ _ Tons moved one mite in 1909_____________________________ 1,244,946,097 Tons moved one mile In 1908 _____ __ ____ __ .1,296,618,957 A decrease,of 3.99 per cent, or____________________________ 51,672,860 T h e r e s u lt fo r th e y e a r is a lo ss o f $ 3 3 7 ,3 6 2 09 in g ro ss f r e ig h t r e v e n u e s . EXPENSES. O p e ra tin g e x p e n s e s d e c r e a se d $ 6 8 5 ,4 8 8 7 8 . W ith th e e x c e p tio n o f a n in c r e a se o f $ 5 ,4 9 0 03 in T r a ffic E x p e n s e s a n d $ 4 ,1 5 5 58 in G en eral E x p e n s e s , a ll t h e g e n e ra l o p er a t in g e x p e n s e a c c o u n ts sh o w h e a v y d e c r e a se , d u e to th e sh r in k a g e in b u sin e ss , a n d th e c u r ta ilm e n ts of e x p e n se s w h er ev e r p o s sib le . In o b e d ie n c e to a la w p a s se d b y th e L e g is la tu r e o f th e S t a t e o f N e w Y o r k , y o u r C o m p a n y in a u g u r a te d th e se m i m o n th ly p a y m e n t o f w a g e s, b e g in n in g w ith O cto b er 1908. T h e o p e r a tin g r a tio d e c re a se d 6 4 4 -1 0 0 p er c e n t, b e in g 0 5 5 -1 0 0 p er c e n t, a g a in s t 71 4 9 -1 0 0 p er c e n t la s t y e a r . T h e p e r c e n ta g e o f e a c h g r o u p o f o p e r a tin g e x p e n s e s to g r o ss e a rn in g s for th e p a s t tw o y e a r s , c o m p ile d a c c o r d in g t o th e n e w c la s sific a tio n s p r e sc rib e d b y th e I n te r -S ta te C o m m erce C o m m issio n , is a s fo llo w s: Maintenance of w a y --------Maintenance of equipment Traffic expenses___ ______ Transportation ex p en ses.. General e x p e n ses............... 1909. .10.72 .21.45 . 1.41 .29.22 . 2.25 In c.( 4-)or 1908. Dec. (— ) — 1.99 12.71 — 1.56 23.01 + .13 1.28 —3.17 32.39 •f"•15 2.10 T o ta l......................................... 65.05 71.49 — 6.44 T h e p h y sic a l c o n d itio n o f y o u r c o m p a n y h a s b e e n fu lly m a in ta in e d , a n d is a s g o o d a s a t a n y p r e v io u s tim e in th e h is to r y o f th e C o m p a n y . T h e a v e r a g e c o s t p er to n p er m ile is 2 9 6 -1 0 0 m ills, b e in g 3 4 - l 0 0 t h s o f a m ill le s s th a n la s t y e a r . T h e a v e r a g e n u m b e r o f r e v e n u e to n s ca ried o n e m ile p er r e v e n u e fr e ig h t tr a in m ile , e x c lu d in g th e m ile a g e o f h e lp in g e n g in e s , in c r e a se d 66 8 7 -1 0 0 t o n s , b e in g 597 1 4 -100 t o n s , a g a in s t 5 3 0 2 7 -1 0 0 to n s a y e a r a g o . T h e a v e r a g e n u m b e r o f r e v e n u e to n s carried o n e m ile p er r e v e n u e fr e ig h t e n g in e m ile , in c lu d in g th e m ile a g e o f h e lp in g e n g in e s , in c r e a se d 29 t o n s , b e in g 4 0 0 , a g a in s t 371 a y e a r a g o . — T h e a t t e n t io n of b a n k s , tr u s t c o m p a n ie s a n d in v e s to r s is in v ite d to th e lis t o f h ig h -g r a d e b o n d s a n d s to c k s w h ic h a re a d v e r tis e d to -d a y in th is issu e b y J . K . R ic e , Jr. & C o., t h e w e ll-k n o w n d ea lers in m isc e lla n e o u s se c u r itie s a t 33 W a ll S t r e e t . T h is lis t o f d iv id e n d -p a y in g s to c k s a n d b o n d s o ffers a w id e field for se le c tio n a n d c o n ta in s su ch a s fin d a r ea d y m a r k e t. J . K . R ic e, Jr. & C o. w ill b e p le a se d to fu r n ish q u o ta tio n s a n d in v it e in q u iries reg a r d in g a n y of th e se c u r itie s m e n tio n e d in th e a d v e r t is e m e n t . T h e firm ’s te le p h o n e s are: “ 7 4 6 0 -1 -2 -3 -4 -5 -6 H a n o v e r .” — M. O . T .— “ M in es of th e T r a n s v a a l.” — T h e s ix t h e d itio n o f th is w o r k , b y R . B . M a b so n , o f th e “ L o n d o n S t a t i s t ,” h a s n o w b e e n issu e d . A s its n a m e im p lie s , its a im is to fu r n ish in fo r m a tio n a b o u t th e g o ld m in es in th e T r a n s v a a l, a n d p a r tic u la r ly th o s e o n th e R a n d , a n d th is it d o c s in d e t a il. B u t th is y e a r th e s c o p e o f t h e v o lu m e h a s b e e n e x te n d e d b y t h e in c lu sio n o f th e le a d in g W e st A frica n g o ld m in e s, a n d in a d d itio n r eferen ce is m a d e to th e v a r io u s d ia m o n d a n d co a l c o m p a n ie s in th e T r a n s v a a l. T h e d a ta g iv e n b e in g d e r iv e d fro m rep o rts or o th e r o fficia l so u r c e s, th e b o o k sh o u ld b e o f m u c h v a lu e to th o s e in te r e s te d in A frica n m in e s. I t is o n sa le a t th e o ffic e of th e “ S t a t i s t .” — A h a n d b o o k o f E g y p tia n se c u r itie s h a s b een issu e d b y II. M. S a lm o n y , 27 G ., T h r o g m o r to n S t ., L o n d o n , E .C ., a c o p y o f w h ic h m a y b e h a d o n a p p lic a tio n to th e a b o v e a d d r e ss . T h e b o o k le t p r e se n ts in clear fo rm th e a c tu a l s t a t u s o f so m e o f th e p rin cip a l E g y p t ia n c o r p o r a tio n s d e a lt in o n th e L o n d o n S to c k E x c h a n g e , a n d sh o u ld b e h e lp fu l to in v e sto r s a n d s e c u r ity h o ld er s in fo r m in g a n o p in io n of th(> p r e se n t s itu a tio n o f th is c la ss of in v e s t m e n t s . A record o f h ig h a n d lo w p r ice s is a p p e n d e d to e a ch s t a t e m e n t . — T h e H a w a iia n T r u st C o ., 9 2 3 F o r t S t ., H o n o lu lu , H a w a ii, h a s issu e d th e th ird e d itio n o f a p a m p h le t d e v o te d Year— 1900 ________ 1 9 0 1 ____ _ . 1902 ________ 1903 ______ 1904 ________ Train E ngine Train E ngine Load. IMad. Load. Year— Load. 374 _______419 354 1905 __________ _______507 418 ________ 400 345 1906 __________ .............. 525 435 ________ 424 353 1907 __________ __ ___ 543 371 364 1908*_________ _______ 530 ________ 441 40# 357 1909*________ ______ 597 ________ 439 ’ The figures for 1908 and 1909 are based on the Inter-State Commerce Commission’s classification of locomotive and train mileage. T h e a v e r a g e n u m b e r o f r e v e n u e p a s s e n g e r s carried o n e m ile p er r e v e n u e p a sse n g e r tr a in m ile is 4 1 , b e in g 3 le s s th a n in th e p r e c e d in g y e a r . T h e n o n -r e v e n u e tr a ffic , n o t in c lu d e d in a n y o f th e o th e r figu res o f th is r ep o rt, is a s fo llo w s: Number Number Number Number 1909. of passengers___________________________ 202,097 of passengers carriedone mile____________ 8,210,231 of ton s________________________________ 720,367 of tons carried one mile_________ 83,541,588 1908. 221,891 8,994,101 809,669 76,544,741 C L E A R F I E L D & M A H O N IN G R A I L W A Y . W ork h a s b e e n c o m m e n c e d on th is lin e to im p r o v e th e a lig n m e n t a n d s tr e n g th e n th e b r id g e s fo r h e a v ie r p o w e r . T h e to ta l e x p e n d itu r e s w ere $ 8 1 ,5 1 1 9 9 . F IR E IN S U R A N C E F U N D . T h e a s s e ts in th is fu n d w ere in c r e a se d $ 2 3 ,1 9 1 71 d u rin g th e y e a r , a n d n o w a m o u n t to $ 1 6 3 ,9 2 3 19 in I n te r e s t b e a r in g se c u r itie s a n d c a sh . P E N S IO N F U N D . T h e a s s e t s in th is fu n d , c r e a te d J u ly 1 1 9 0 3 , w e re in c re a se d $ 1 6 ,7 2 6 20 d u rin g th e y e a r , a n d n o w a m o u n t t* $ 1 2 9 ,2 3 6 38 in in te r e st-b e a r in g s e c u r itie s a n d c a sh . T h e r e w e re th ir ty -o n e p e n sio n e r s u p o n th e rolls o n J u n e 3 0 1 9 0 9 , a d e c re a se o f tw o d u rin g th e y e a r . G EN ER A L REM AR K S. T h e in v e s t m e n t in th e O n ta rio Car F e r r y C o m p a n y , L im ite d , r em a in s th e sa m e a s la s t y e a r . O n M arch 15 1909 a d iv id e n d of fir e p e r c e n t fo r th e y e a r 19 0 8 a n d a fu r th e r d iv id e n d o f th r e e p er c e n t fo r th e s ix m o n th s e n d in g D e c e m b e r 31 1 9 0 8 w a s d e c la r e d o n th e C a p ita l S to c k . T h e $ 1 9 ,9 7 6 r ec eiv e d b y y o u r C om p a n y fr o m th is so u rc e w a s c r e d ite d to O th er I n c o m e A c c o u n t. T h e B o a r d o f D ir ec to rs record s t h e d e a th o n F e b r u a r y 9 1909 of M r. A rth u r G . Y a te s , w h o w a s e le c te d a D ir ec to r a n d P r e sid e n t o f th e C o m p a n y o n A p ril 2 4 1 8 9 0 . T h e M in u te a d o p te d in h is m e m o r y b y th e B o a r d a t a m e e tin g h e ld in N e w Y o rk on F e b r u a r y 15 190 9 w ill b e fo u n d o n p a g e 12 o f th e p a m p h le t r ep o rt. T o fill t h e v a c a n c y c a u se d b y Mr. Y a t e s ’s d e a th , Mr. A d ria n Is e lin Jr. w a s e le c te d P r e s id e n t on F e b r u a r y 15 1909 a n d Mr. W m . T . N o o n a n , G en era l M a n ager, w a s e le c te d a V ic e -P r e sid e n t. T h e B o a r d r eg rets to a n n o u n c e th e d e a th , s in c e th e c lo s e o f th e y e a r , o f Mr. J o h n L . R ik c r , w h o s e s e r v ic e a s a d ir e c to r o f th e C o m p a n y d a te d fr o m N o v e m b e r 21 1 8 9 8 . Mr. G eo rg e E m len R o o s e v e lt w a s e le c te d b y t h e B o a r d to s e r v e a s a D ir e c to r u n til th e n e x t a n n u a l e le c tio n . T h e a c k n o w le d m e n ts o f th e B o a r d a re r en ew e d to th e o ffice rs a n d e m p lo y e e s for th e ir f a ith fu l a n d e ffic ie n t s e r v ic e s . S t a t e m e n t s a n d s t a t is t ic s of th e o p e r a tio n o f y o u r road fo r th e y e a r a re s u b m it t e d h e r e w ith . B y o rd er o f th e B o a r d . A D R I A N I S E L I N J R ., m f lp r ) f N e w Y o r k , J u ly 3 0 th 1909. to H a w a iia n te r r ito r ia l, r a ilw a y a n d p la n ta tio n s to c k s a n d b o n d s . T h e b o o k le t, issu e d u n d er d a te o f J u n e 1 1 9 0 9 , is in a t t r a c t iv e s t y le a n d g iv e s fin a n cia l s t a t is t i c s , b a la n c e s h e e t s for D e c . 31 1 9 0 8 , & c ., o f all th e s e c u r itie s lis t e d o n th e H o n o lu lu B o n d a n d S to c k E x c h a n g e . C o p ies m a y b e o b ta in e d o n a p p lic a tio n to th e a b o v e a d d r e s s . — A tte n tio n is c a lle d to t h e p a g e a d v e r tis e m e n t of M essrs. P e a b o d y , I lo u g h t e lin g & C o. T h e y offer C h ica g o real e s t a t e m o r tg a g e s y ie ld in g 4J^ to 6% ; a lso C h ica g o real e s t a t e seria l b o n d s se c u r e d b y first m o r tg a g e o n b u ild in g s; a lso first m o r tg a g e b o n d s se c u r ed o n m o d ern s te e l s te a m s h ip s o n th e G rea t L a k e s. D e s c r ip tiv e circu la rs reg a r d in g t h e a b o v e , a n d o th e r c la s se s o f in v e s t m e n t s w h ic h th e h o u s e h a v e to offer, w ill b e s e n t o n r e q u e st. — T h e R e g istra r & T ra n sfer C o ., 3 5 N a s sa u S t ., N . Y . , a n d 15 E x c h a n g e P la c e , J e r s e y C ity , N . J ., h a s issu e d a p a m p h le t r e la tiv e to th e N e w J e r s e y I n h e r ita n c e T a x L a w r e c e n tly p a sse d b y th e L e g isla tu re o f t h a t S t a t e . T h e n e w s t a t u t e is g iv e n v e r b a tim a n d is c o n sid e r e d b y th e c o m p a n y o f th e u tm o s t im p o r ta n c e a s reg a r d s th e tr a n sfe r o f s to c k o f N e w J e rsey c o r p o r a tio n s , p a r tic u la r a t t e n t io n b e in g d ir e c te d to S e c tio n 12. — “ H a w a iia n S to c k s a n d B o n d s ” is th e t it le of a n e x c e lle n t c o m p ila tio n p u b lish e d b y th e H a w a iia n T r u st C o ., H o n o lu lu . T h e issu e for th e c u r re n t y e a r c o n ta in s d e ta ile d in fo r m a tio n on all th e s to c k s a n d b o n d s lis te d o n th e H o n o lu lu S to c k a n d B o n d E x c h a n g e , s t a t is t ic s o f th e su g a r in d u s tr y , th e p r o d u c tio n of ru b b er, & c. — G . E llio t t e L it t le , fo r m e r ly o f th e firm o f L i t t le ’& G o o d m a n , la t e ly d is s o lv e d , h a s o p e n e d a n o ffic e a t 100 B r o a d w a y , w h ere h e w ill c o n tin u e th e b u sin e ss ; ] o f |p u b lic la c o » u n t in g a n d a u d itin g u n d er h is o w n n a m e . 'Jgtoe ^iraes. COMMERCIAL EPITOME. Friday Night, Aug. 13 1909. T r a d e c o n tin u e s to im p r o v e a n d p e r h a p s r a th e r m ore r a p id ly o w in g to th e fa c t th a t th e tariff q u e s tio n is o u t of t h e w a y . A c t iv it y in iron a n d s t e e l, m o r e fa v o r a b le crop r e p o r ts, in c re a se d p u rc h a ses o f s e c u r itie s , g r e a te r a c t iv i t y in b u ild in g , a larger d e m a n d for la b o r , s o m e im p r o v e m e n t in c o lle c tio n s a n d a b e tte r d e m a n d for m o n e y a re a m o n g th e c h e er fu l fe a tu r e s o f th e s it u a t io n . L A R D .— B u s in e ss h a s b e e n q u ie t , b u y e r s b e in g d isp o se d to h o ld o ff, lo o k in g fo r lo w er p rices b e c a u s e o f th e b r ig h t o u tlo o k for a b ig co rn cro p . P r ic e s sh o w lit t l e ch an ge; p r im e W e ster n 1 1 .8 5 c ., M id d le W e st. 1 1 .7 5 c ., p r im e C ity s t e a m 1 1 .4 0 c ., refin ed C o n tin e n t 1 2 c ., S o u th A m e ric a 1 2 .6 5 c ., B r a z il, in k e g s, 1 3 .7 5 c . P r ic e s in s p e c u la t iv e m a r k e ts sh o w l it t l e c h a n g e . W e a k n e ss fo r a tim e in h o g s a n d g ra in s c a u s e d a te m p o r a r y d e c lin e , b u t b u y in g b y p a c k e r s b r o u g h t a b o u t a r a lly . DAILY CLOSING PRICES OF LARD FU T U R E S IN CHICAGO. S at. M on. Tues. Wed. Thurs. F ri. 11.17 >2 11.30 11.32 )6 11.40 Septem ber delivery___ 11.32)6 11.25 October delivery______il.2 7 )6 11.20 11.12)4 11.25 11.25 11.35 January delivery______9.77)4 9.72)4 9.70 9.85 9.90 9.97)4 P O R K .— D u ll a n d firm ly h e ld b e c a u se of lig h t su p p ly; m e s s 821 7 5 @ $ 2 2 2 5 , fa m ily $21 © 8 2 2 , clear $21 @ $23 5 0 . B e e f s te a d y w ith s e a s o n a b le a c t iv it y ; fa m ily $ 1 4 @ $ 1 4 5 0 , p a c k e t $ 1 2 @ $ 1 2 5 0 , m e ss $ 1 1 @ $ 1 1 5 0 , e x tr a In d ia m ess $ 2 0 5 0 @ $ 2 1. P ic k le d h a m s , d u ll, r eg u la r, 12 to 2 0 lb s ., 12 i^ @ 1 3 c .; p ic k le d b e llie s, firm , lig h t s u p p ly , c lea r, 8 to 12 lb s ., 1 2 ^ @ 1 3 c . T a llo w , q u ie t , C ity 5 9 -lG c . S tea rin es d u ll, la r g e ly n o m in a l; o leo l l ^ c . , lard 1 2 J ^ @ 1 3 c . B u tte r r a th e r firm er fo r c h o ic e g ra d es; cre a m er y e x tr a s 2 6 ^ @ 2 6 % c . C h eese sa le s h a v e b e e n r e s tr ic te d b y th e a d v a n c e ; S t a t e f. c ., s m a ll or la rg e, c o lo red or w h ite , 1 4 ^ c . E g g s du ll a n d r a th e r easier; W e ster n firsts 2 l @ 2 2 c . O I L .— L in see d p rices sh o w n o c h a n g e . W ith d r a w a ls are s e a s o n a b le , b u t n e w b u sin e ss is lig h t . C ity , r a w , A m erican s e e d , 6 1 @ 6 2 c .; b o ile d , 6 2 @ 6 3 c .; C a lc u tta , r a w , 7 5 c. C ot to n -s e e d h a r d ly c h a n g ed ; w in te r 5 .5 0 @ 5 .9 0 c ., su m m er w h ite 5 .5 Q @ 5 .9 0 c . O liv e e a sie r , $ 1 @ $ 1 2 0 . L ard dull; p rim e 9 0 @ 9 2 c ., E x t r a N o . 1 5 7 @ 5 8 c . C o c o a n u t s te a d y b u t q u ie t; C o ch in 7 % @ 8 e ., C e y lo n 7 % @ 7 % e . . P a lm , L a g o s, 5 % @ 6 c . P e a n u t , y e llo w , G 5@ 70c. C od q u ie t a n d ste a d y ; d o m e s tic 3 8 c ., N e w fo u n d la n d 4 0 c . C O F F E E .— S p o t b u sin e ss h a s b e e n d u ll, b u y e r s h o ld in g o ff, e x p e c tin g c o n c e s s io n s b e c a u s e o f th e h e a v y B r a zilia n m o v e m e n t , b u t p r ice s sh o w lit t le ch a n g e ; R io N o . 7, 7 j^ @ 7 % c .; S a n to s N o . 4 , fa ir to g o o d C u cu ta , 9 j^ @ 1 0 3 4 c . S p e c u la tio n h a s b e e n q u ie t in th e a b s e n c e of stim u la tin g fa c to r s. P r ic e s h a v e a d v a n c e d so m e w h a t u n d er a s c a tte r e d d e m a n d fro m sh o r ts , p o s s ib ly in flu e n c e d ch iefly b y th e fa ilu r e o f th e B r a z ilia n m a r k e ts to b rea k m a te r ia lly un d er t h e e n o r m o u s r e c e ip ts . C lo sin g p r ice s w ere a s follow s: A u g u s t_____5.85© 5.90 September 5.55@ 5.60 October . . 5.30@ 5.35 November 5.25@ 5.35 December . _5.25@ 5.30 January . . . .5 .2 5 ® 5.30 F e b r u a r y __ 5.25@ 5.35 March _........5 .3 0 © 5 .3 5 April ..............5.30@ 5.35 M a y ---------- 5.35® 5.40 J u n e ---------- 5.35© 5.40 J u l y ---------- 5.40@ 5.45 S U G A R .— R a w h a s b e e n fa ir ly a c t iv e a t p r e v io u s figures; c e n tr ifu g a l, 9 6 -d e g r e e s t e s t , 4 .0 8 c .; m u s c o v a d o , 8 9 -d e g r ee s t e s t , 4 .5 8 c .; m o la s s e s , 8 9 -d e g r e e s t e s t , 3 .3 3 c . R efin ed h a s b e e n q u ie t, b o th a s to n ew b u s in e s s a n d w ith d r a w a ls o n old; g r a n u la te d 4 .8 5 c . S p ic e s h a v e b e e n s t e a d y , w ith a slo w d e m a n d . T e a s h a v e b e e n fa ir ly a c t iv e in a jo b b in g w a y . W o o l h a s b e e n a c t iv e a t firm figu res, w ith a g o o d in q u ir y for m o s t d e sc r ip tio n s. P E T R O L E U M .— D e m a n d sh o w s so m e im p r o v e m e n t, e n g in e o ils still le a d in g ; r efin e d , b a r r els, 8 .2 5 c .; b u lk , 4 .7 5 c .; c a se s, 1 0 .6 5 c . G a so lin e , 8 6 -d e g r e e s t e s t , in 1 0 0 -gallon d r u m s , 1 8 2 4 c .; d r u m s $7 50 e x tr a ; n a p h th a , 73 to 7 6 -d eg rees t e s t , in 1 0 0 -g a llo n d r u m s, 1 6 2 4 c.; d r u m s $7 50 e x tr a . S p irits o f tu r p e n tin e s tr o n g , w ith fair d e m a n d , q u o te d g e n e r a lly a t 5 3 @ 5 3 3 4 c ., so m e a s k in g 5 4 c . C o m m o n to g o o d str a in e d r o sin du ll b u t firm a t $ 3 3 0 . T O B A C C O .— W h ile b u sin e ss c a n n o t b e d e sc r ib ed a s b risk , th e a rriv a l o f n u m e r o u s W e ster n b u y e r s h a s u n d o u b te d ly b r o u g h t a b o u t a fa ir in c r e a s e . T h e m a jo r ity o f th e m s ta te th a t th ere h a s b e e n a m a te r ia l in c re a se in th e cig a r b u sin e ss in th e ir r e s p e c tiv e te r r ito r ie s , a s a r e s u lt o f w h ic h th eir local tr a d e h a s b e e n c o n sid e r a b ly e n la r g e d . T h e y are n a tu r a lly g r e a tly in te r e ste d in th e n e w -c r o p o u tlo o k , la t e s t r ep o rts n o tin g im p r o v e m e n t in N e w Y o r k , C o n n e c tic u t a n d P e n n sy l v a n ia , b e c a u se o f th e tim e ly a d v e n t o f n e e d e d ra in s. A g r ea t d e a l o f in te r e s t, h o w e v e r , is a ls o d ir e c te d to b ro a d C o n n e cti c u t le a f, w h ich is e v id e n t ly e n jo y in g s o m e w h a t o f a b o o m . C O P P E R .— P rice s a d v a n c e d s h a r p ly , w ith c o n sid era b le e x c it e m e n t a t o n e tim e , la te r r e c e d in g a lit t le . L ake 1334 @ 1 3 3 4 c ., e le c t r o ly t ic 1 3 @ 1 3 3 4 c -» c a s tin g 1 2 2 4 @ 1 2 J 4 c . L ea d h a s b e e n a c t iv e a t a n a d v a n c e ; s p o t , c a r -lo ts, 4 .4 0 c . S p e lte r q u ie t b u t firm; s p o t, c a r -lo ts, 5 .6 5 c . E v e n a t a fur th e r a d v a n c e th ere is still a g o o d d e m a n d for iron in th e E a s t , b u t m o s t o f th e g r e a te s t a c t iv i t y is n o te d in th e M id dle W est, th e O hio a n d P itts b u r g h d is tr ic ts . L ak e S u p e rio r iron h a s b een c o n sp ic u o u sly a c t iv e , a n d A u g u s t m a y s e t a n ew record fo r s h ip m e n ts . T h e r e is a b e tte r in q u ir y for th o s e fo reign g r a d e s o n w h ic h im p o r t d u tie s h a v e b e e n r e d u c e d . T h e s te e l in d u str y h a s c o n tin u e d a c t iv e , a n d is b e in g h a m p ered s o m e w h a t b y s c a r c ity o f m e n . S t ill, tr a d e h a s in crea sed s u ffic ie n tly to w a r ra n t th e b u ild in g o f n ew p la n ts . COTTON. Friday Night, August 13 1 9 0 9 . T H E M O V E M E N T O F T H E C R O P a s in d ic a te d b y o u r te le g r a m s fr o m t h e S o u th to - n ig h t is g iv e n b e lo w . For th e w e ek e n d in g th is e v e n in g th e t o t a l r e c e ip ts h a v e r ea c h e d 1 1 ,0 5 1 b a le s, a g a in s t 7 ,8 0 4 b a le s la s t w e e k a n d 1 4 ,1 9 7 b a le s th e p r e v io u s w e e k , m a k in g th e t o t a l r e c e ip ts s in c e S e p t . 1 19 0 8 9 ,8 0 7 ,4 3 2 b a le s, a g a in s t 8 ,2 6 6 ,0 4 1 b a le s for th e s a m e p erio d o f 1 9 0 7 -0 8 , s h o w in g a n in c r e a se s in c e S e p t . 1 190 8 o f 1 ,5 4 1 ,3 9 1 b a les.__________________ _______ M on. Sat. Receipts at- Tues. 556 367 G alveston --------Fort Arthur----Corp. Chrlstl.&c. New Orleans----G u lfp ort_______ Mobile -----------F e n sacola --------Jacksonville, &c. Savannah --------B ru n sw ick ------C h arleston ------G eorgetow n-----W ilm in g to n -----Norfolk ----------N ’port News, &c. New Y ork--------B o s t o n -----------B altim ore--------Philadelphia------ F ri. Thurs. Wed. 280 25 741 Total. 87 2,065 781 15 ‘ 393 l‘,568 122 241 3,120 ‘ 202 ‘ :io5 ‘239 469 437 252 1,964 220 228 99 ‘228 821 — :::: 12 — — ----- * 25 — 50 50 308 308 25 1,613 11,051 — — — — 2,234 — 2,705 1,207 20 2,438 348 308 — — — 1,464 13 116 ‘ 12 . . . . — — 2 1,561 88 17 — 43 209 153 97 1,828 T h e fo llo w in g sh o w s t h e w e e k ’s t o t a l r o c e ip ts, t h e to ta l sin c e S e p t. 1 19 0 8 , a n d th e s t o c k s t o - n ig h t , c o m p a r e d w ith la s t y ear: Stock. 1908-09. 1907-08. This Since Sep 1 1908. Week. This Since Sep Week. 1 1907. 17,983 2,536,159 108,500 37,825 1,849 1,991,752 Jacksonville, &c. Savan nah---------B runsw ick— . . C harleston-------Georgetown ----Wilmington ----N o r fo lk .-----------Ncwp’t News, &c. New Y o r k --------B o s t o n ------------B altim ore---------P h ila d elp h ia ----- 2,065 3,612,521 152,759 157,936 3,120 2,083,891 20,221 1,964 389,810 100,035 30,868 228 821 1,494,777 3 2 0 ,t 14 12 209,768 2,649 20 409,238 2,438 592,347 18,175 50 19,1 51 19,075 308 101,091 7,006 25 331.895 167,465 8,543 1,515,438 197,903 201,861 822 500,787 516,975 8,461 4,227 15,893 81 ,826 9,709 105,528 3,457 2,040 908 67,631 4,54 i 6,110 1,712 T otal......... ........ 11,051 9,807,432 24,039 8,266,041 205,701 185,343 Receipts to A u g . 13. G alveston------- -Corpus Chrlstl, &c New Orleans . . Gulfport ---------Mobile _________ 364 1,205 119 2 1,800 32 209 476 — ___ 1909. 1908. 11,518 35,981 ,55.286 30,286 2,459 7,912 10,103 211 2,241 ____ 23,035 __________ 8,197 — 727 4,658 145 6,352 — In ord er th a t c o m p a r is o n m a y b e m a d e w ith o th e r y e a r s , Receipts at— 1908. 1900. 1007. 1905. 1006. Galveston, &c. Pt. Arthur,&c. New Orleans. Mobile _ — Savannah . . . Brunswick — Charleston,&c W ilm in gton .. Norfolk . . . . N ’port N ., &c All others----- 2,065 17,983 3,844 16,863 48 1,976 459 7,272 21,001 3,120 1,964 821 1,849 364 1,205 9 16 1,124 1,661 12 20 2,483 119 2 1,800 ' 295 1 11 573 209 1,321 47 2,055 367 868 74 9 650 11,708 57 5,945 611 717 Total this wk_ 11,051 24,039 8,763 31,276 50,218 11 ,753 847 4,890 1901. 8,703 ____ 1,433 11 1,259 ____ 1,003 43 787 800 14,030 Since Sept. 1. 9,807,432 8,266,041 0,689,351 7,784,468 9 ,962,4 B) 7,137,296 of T h e e x p o r ts fo r th e w e ek e n d in g t h is e v e n in g r e a c h a t o t a l 1 1 ,5 2 8 b a le s, o f w h ic h 4 ,2 8 7 w e re to G reat B r ita in , to F r a n c e a n d 7 ,2 4 1 to t h e r est o f t h e C o n tin e n t. W eek t i d i n g A u g . 13 E x p o r te d to — Exports from— B r i t a i n . F r ’n c e G a lv esto n ___ Port A rth u r ... Corp.Chrlstl.&c New O rleans.. M obile---------P en sa co la----G u lfp o rt......... Savannah ----Brunswick----Charleston----W ilm ington... N o rfo lk ......... . Newport Nows New York___ Boston ......... . B altim o re----Philadelphia. Portland, Me. San Francisco Seattle ......... T acom a------Portland, Ore. P em b in a-----D etroit........... T o t a l......... Total 1907-08 n e n t. t 600 100 .... -... 3,339 176 372 400 __ — 2,441 100 — ___ 4.287 ___ 6,184 .... — 1909. T o ta l. F rom S e p t. G rea t B r ita in . 1 1008 to A u g . w xponea w — F ra n ce. C o n tin e n t. 13 1909. T o ta l. 1,487,535 424,366 1,221,939 •b 133,840 86,502 152,759 66,257 Jm 30,162 30,162 4,600 928,212 260,850 749,852 1,938,914 82,335 298,192 93,580 122.577 55,776 167,801 46,070 63,066 4,132 16,089 ___ 20,221 100 171,221 91,227 658,721 921,172 89,370 282,974 103,601 77,244 5,725 82,969 112,854 8,731 281,621 403,209 32,094 3,163 36.157 — 5‘,780 180,111 50.522 210,302 446,938 94.403 11,334 105,737 176 52,803 7,529 63,573 123,905 372 ___ 12,939 .500 57,801 70,740 796 __ ____ _ 796 ___ ____ L 82,448 82,448 _____ ___ 08,246 68,246 ______ ___ 10,756 10,756 ........... ___ 300 300 ____ _ ___ 100 100 4,374 — — ...... 4,374 7,241 11,528 3,638,478 1047847 3.796.085 8,383,010 23,524 29,708 2,923,501 874,221 3,581,208 7,378,930 In a d d itio n to a b o v e exports, o u r te le g r a m s to - n ig h t a ls o g iv e u s t h e fo llo w in g a m o u n ts ol c o t to n on sh ip b o a r d , n o t c le a re d , a t th e p o r ts n a m e d . W e a d d sim ila r figu res fo r N ew Y ork. O n S h ip b o a r d , N o t C le a r e d f o r — A ug. 13 at— G reat B r ita in . G erm any. F ra n ce 777 1,200 New Orleans. . Galveston _ . S avan n ah C harleston.. . M o b ile_______ Norfolk . . . . . New York __ Other ports__ 2,100 2,541 1,800 100 300 — Total 1 9 0 9 .. Total 1908.. Total 1907. „ 6,601 4,659 2,899 0,077 5,557 3,044 3,800 O th e r F o r e ig n 1,872 250 _ __ __ 800 — C o a s t- wise. 4,239 450 __ __ __ 782 750 500 9,830 5,191 500 100 5,900 3,900 5,900 3,700 100 45,456 6,327 9,603 2,241 452 452 101,828 6,661 29,121 33,656 27,721 176,580 151,687 276,563 __ 800 — 2,922 10,582 6,397 T o ta l. — 5,489 8,459 1,990 L e a v in g S to c k . 8,032 4,399 6,097 S p e c u la tio n in c o tto n for fu tu r e d e liv e r y h a s b e e n o n a r a th e r lib era l sc a le a t irreg u la r p r ic e s. A t o n e tim e th e r e w a s a sh a rp d e c lin e , b u t w ith in a fe w d a y s th is w a s m o re th a n r ec o v er ed . T h e n c a m e a n o th e r s e tb a c k . T h e e a r ly d e c lin e w a s d u e to ra in s in T e x a s , liq u id a tio n o f lo n g a c c o u n ts a n d a g g r e s siv e sh o r t s e llin g . F a v o r a b le crop r e p o r ts, to o , h a v e b een r ec eiv e d fro m m a n y s e c tio n s e a s t o f th e M ississip p i, a n d so m e o f th e a d v ic e s from T e x a s h a v e a lso b e e n o f a ch eerfu l so r t. T h e id e a , h o w e v e r , is t h a t T e x a s c o n d itio n s are “ s p o t t e d .” In so m e s e c tio n s o f t h a t S t a t e th e y are sa id to b e a d v e r se ; in o th e r s th e p r o s p e c ts are m u ch b e tte r th a n t h e y w ere a t o n e tim e e a rlier in t h e se a s o n . O n th e o th e r h a n d , th e .p r e d ic tio n s o f r a in s in T e x a s h a v e n o t b een fu lly v e rifie d . M o istu re h a s fa lle n h ere a n d th e r e , b u t it is c o n te n d e d th a t th e S t a t e a s a w h o le still n e e d s co p io u s r a in s. In th e a b s e n c e o f th e se it is b e lie v e d th a t th e n e x t G o v e r n m e n t r e p o r t, th e d a ta fo r w h ic h w ill b e b r o u g h t d o w n to A u g . 2 5 , c a n h a r d ly fail to b e d is t in c t ly b u llis h . A s th e J u ly c o n d itio n w a s th e lo w e s t o n reco rd , m a n y a ss u m e t h a t th e A u g u s t c o n d itio n w ill lik e w is e b e u n p r ec e d e n te d ly b a d . _ I t r e m a in s to b e se e n h o w n ear th e m ark th e se p r o g n o s tic a tio n s w ill c o m e . M ea n tim e th e m a r k e t is in m ore o f a liq u id a te d c o n d itio n so fa r a s lo n g a c c o u n ts a re c o n c er n e d . H e a v y sa le s h a v e r e c e n tly b e e n m a d e b y o ld -tim e b u lls , a n d m u ch o f th e w eak lo n g in te r e s t h a s b een d r iv e n o u t. M o reo v er, L iv er p o o l h o u se s h a v e b e e n co v er ing^ a g o o d m a n y o f th e O cto b er “ s t r a d d le s ” h e r e, a fa c t w h ich h a s h a d a n o tic e a b le e ffe c t o n th e w h o le m a r k e t. M em p h is, C h ica g o a n d W all S tr e e t h a v e a lso b e e n b u y in g . P u r c h a se s fo r a rise h a v e b een e n c o u r a g e d b y r ep o rts o f a b e tte r c o n d itio n o f tr a d e in L a n c a sh ire a n d in R u ssia a n d o th e r p a r ts of th e C o n tin e n t. It is sa id t h a t a c o n sid e r a b le s h o r t in te r e st e x is t s h ere. T h e N e w Y ork s to c k is s te a d ily d w in d lin g . O n W e d n e sd a y th e d e c re a se in th e c er tific a ted s u p p ly w a s 3 /5 0 0 b a le s. O n se v e ra l d a y s d u r in g th e w e ek th e s p o t sa le s h ere h a v e ra n g ed fro m 2 ,5 0 0 to 5 ,1 0 0 b a le s. S in c e th e first o f th e m o n th th e s to c k h a s fa lle n off a b o u t 1 9 ,0 0 0 b a le s. I f t h e s e d e c re a se s c o n tin u e , it is a ss u m e d t h a t c o t to n w ill h a v e to b e b r o u g h t h e r e . O n th e o th e r h a n d , p r ice s a re n e a r ly $ 2 0 a b a le h ig h er th a n t h e y w ere la s t fa ll. S p in n e r s a re b u y in g o n ly from h a n d to m o u th , a n d it h a s h a p p e n e d m ore th a n o n c e t h a t e v e n in s e a s o n s o f sm a ll cro p s th e r e c e ip ts for th e first fe w m o n th s h a v e b e e n v e r y la rg e — e v e n la rger th a n in th e sa m e m o n th s of b ig cro p y e a r s . I t r em a in s to b e se e n — a n d it is a d e c id e d ly in te r e s tin g q u e s t io n — w h e th e r sp in n e r s w ill ta k e care o f th e e a r ly r e c e ip ts o r, in th e a b s e n c e o f a sh a rp s p in n in g d e m a n d , w h e th e r sp e c u la tio n w ill b e o f su ffic ie n t v o lu m e to c o p e w ith th e m o v e m e n t. T o -d a y p r ice s d e c lin e d s h a r p ly on ra in s in T e x a s , w e a k n e s s in L iv er p o o l, la rg e r e c e ip ts o f n e w cro p a t H o u sto n a n d a fa llin g off in th e b u y in g to liq u id a te L iv er p o o l “ s t r a d d le s .” A r a lly o ccu rred la te r , h o w e v e r , o n r e p o r ts t h a t Mr. E lliso n h a d in c r e a se d h is figu res o n th e E u r o p e a n c o n s u m p tio n . P rice s a re n o t m u ch lo w e r th a n a w e ek a g o . S p o t c o tto n e a r ly in th e w e ek d e c lin e d 30 p o i n t s , to 1 2 .4 0 c ., b u t ra llied la te r to 1 2 .8 0 c ., a c c o m p a n ie d b y la rg e sa le s a n d a s t e a d ily d e c r e a sin g s u p p ly . T h e r a te s on a n d off m id d lin g , a s e s ta b lis h e d N o v . 18 1908 b y th e R e v is io n C o m m itte e , a t w h ic h g r a d e s o th e r th a n m id d lin g m a y b e d e liv e r e d on c o n tr a c t, a r e a s fo llo w s: F a ir ..................... c.1.50 on Middling.........--C. Basis Good mid. tinged.c. Even Strict mid. fair ...1 .3 0 on Strict low. mid----- 0.30 oft Strict mid. tinged. .0.20 off Middling fair ____ 1.10 on Strict good mid___ 0.66 on C.ood middling___ 0.44 on Strict middling___ 0.22 on Low middling------- 1.00 oft Middling tinged. ...0.30 off Strict good ord----- 1.50 off Strict low mid.ting. 1.00 off Good ordinary___ 2.50 off ILow mid. tinged 2.25 off Strict g’ll mid. tgd.0.35 on| Middling stained 1.00 oft T h e o fficia l q u o ta tio n for m id d lin g u p la n d c o t to n in th e N e w Y o rk m a r k e t e a c h d a y for th e p a s t w e e k h a s b een : A ug. 7 to A ug. 13— Middling uplands___ S a t. 12.50 M on. 12.40 Tucs. 12.00 W ed. Thurs. 12.00 12.80 Frl. 12.80 N E W Y O R K Q U O T A T IO N S F O R 32 Y E A R S . 1909.C1908 1907___ 1906___ 1905. 1904___ 1903 1902___ .12.80 10.50 13.30 10.60 ..1 0 .6 5 10.55 .12,75 9.00 1001.e . 1900 1899 . .... 1898 . 1897 1896 . 1895_____ 1894 . . . . 8.00 1893 .C .. 10.25 1892------. 6.50 1891____ 1890......... . 8.00 1889____ - 8.00 1888 . . - 7.56 1887____ . 7.00 1886____ . 7.68 11885.0_____ 10.44 . 7.19 1884 ____ 10.88 . 8.00 1883 ............. 10.25 .12.06 1882___ ...1 3 ,0 0 ..1 1 .3 1 1881............... 12.00 . 11.3 1 1880 .............11.56 . 9.75 1 8 7 9 ......... .11.12 . 9.50 1878 ......... 11.94 M ARK ET A N D SA LES AT N E W Y O R K . S atu rd a y .. M onday.. Tuesday . . Wednesday Thursday . Friday___ Spot M arket Closed. Futures M arket Closed. Quiet 20 pts dec----Quite 10 pts dec----Quiet 20 pts a i l v ---Quiet .................. — Quiet 20 pts adv . S t e a d y __________ - Barely steady S te a d y .. Firm . . . .Steady___ Firm . . . F ir m ____ Total .. Sales of Spot and Contract. Con- Con Spot. sutn’n. tract. 1/766 5,158 2,500 400 612 :::: 10,397 .... 2,466 Total. 4 /1 6 6 5,185 2,500 400 612 2,400 12,797 F U T U R E S .— T h e h ig h e s t , lo w e s t a n d c lo sin g p rices a t N e w Y o r k t h e p a s t w e e k h a v e b e e n a s fo llo w s: T H E V I S I B L E S U P P L Y O F C O T T O N to -n ig h t, a s m a d e u p b y c a b le a n d te le g r a p h , is a s fo llo w s . F o r e ig n s t o c k s , a s w ell a s th e a flo a t, a re th is w e e k ’s r e tu r n s , a n d c o n se q u e n t ly a ll fo r eig n figu res are b r o u g h t d o w n to T h u r s d a y e v e n in g . B u t to m a k e th e to ta l t h e c o m p le t e fig u res fo r t o -n ig h t ( F r id a y ) , w e a d d th e it e m o f e x p o r t s f rom t h e U n ite d S t a t e s , in c lu d in g in it th e e x p o r ts o f F r id a y o n ly . A u g u st 13— Stock at L iverp ool.. Stock at L o n d o n ___ Stock at Manchester . Total Great Britain stock . Stock at Hamburg.................. Stock Stock Stock Stock Stock at at at at at 1909. 911,000 9,000 .bales. H avre___ Marsellles. Barcelona Genoa___ T rieste __ 6 0,000 . 980,000 9,000 . 179,000 185,000 . 3,000 25,000 22,000 1908. 421,000 15,000 51,000 1907. 854,000 487,000 24,000 91,000 4,000 30,000 941,000 18,000 173,000 142,000 3,000 19,000 212 ,000 22,000 65,000 1006. 463,000 16,000 49,000 528.000 19,000 107,000 74,000 4,000 10,000 26,000 20,000 21,000 . 5,000 18,000 40,000 Total Continental stocks______ 428,000 309,000 416,000 246,000 886,000 1,357,000 774,000 74,000 95,689 16,000 34,000 667,000 191,702 117,872 1,761 Total European stocks___ _ .1.408,000 India cotton afloat for Europe__ . 68,000 71,142 Amer. cotton afloat for E urope.. Egypt, Brazil,&c.,aflt.for Europe.. 26,000 . 63,000 Stock In Alexandria, E g y p t. Stock In Bombay, India _______ . 23 9,000 Stock In U. S. p o r ts _______ . 205,701 84,535 Stock In U . S. interior tow n s___ 2,475 U. S. exports t o - d a y ..................... 63,000 83,503 20,000 70,000 436,000 185,343 119,189 261 108,000 27,609 22,000 31,000 609,000 297,590 83,695 1,314 6,0 0 0 .2,167,8 53 1,863,296 2.537,208 1,972,024 Of the above, totals of American and other descrlptlonsa ore as follows: A m erican— Liverpool stock______ ___ bales. . 818,000 727,000 356,000 310,000 Manchester stock__________ 53,000 43,000 4 5,000 40,000 Continental sto c k .................. 187,000 318,000 390,000 318,000 95,689 American afloat for Europe. 27,609 71,112 83,503 U. S. port stocks ___ . .. 205,701 297,590 191,702 185,343 U . S. interior stocks . 84,535 119,189 83,695 117,872 U. S. exports to-d ay_______ 2,47 5 1,761 261 1,314 E ast Indian, Brazil, &c.~ L lverp oolstock___________ London stock ____________ Manchester stock___ ____ .. Continental stock__ ___ Egyp StocIk In Alexandria, E gypt___ 1,610,8 53 1,056,296 1,508,208 93,000 9,000 1 5,000 38,000 993,024 127,000 107,000 16,000 81,000 63,000 98,000 108,000 70,000 436,000 31,000 609,000 59,000 74,000 16,000 34,000 667,000 807,000 1,029,000 551,000 1,616,853 1,056,296 1.508,208 979,000 993,624 68,000 26,000 63,000 239,000 111,000 15,000 11,000 20,000 22,000 12,000 22,000 6 ,0 0 0 2,167.853 1,863,296 2,537,208 1,972,024 5.92(1. 6.72d. Middling Upland, Liverpool____ 7.29d. 5.51d. Middling Upland, New York__ . 12.80c. 10.60c. 10 . 2 0 c. 13.25c. Egypt, Good Brown, Liverpoo 1 9 1 3-16d. 8 J-Sd. 11 5-16(1. 11 H d 9.00(1. Peruvian, Hough Good, Liverpool1 8.3 5(1. 8.65d. 1 1.75d. 6 Md. Broach, Fine, Liverpool________ 5 5-16d. 5 7-16(1. 6 Md. T lnnevelly, Good, Liverpool__ 5 15-16d. 5d. 5«d. 5 14d . C o n tin e n ta l im p o r ts for th e p a s t w e e k h a v e b een 1 9 ,0 0 0 b a le s . T h e a b o v e figu res for 1999 sh o w a d e c r e a se from l a s t w e ek o f 1 2 3 ,2 5 3 b a le s, a g a in o f 3 0 4 ,5 5 7 b a le s o v e r 1 9 0 8 , a d e cre a se of 3 6 9 ,3 5 5 b a le s from 1 9 0 7 , a n d a g a in o f 1 9 5 ,8 2 9 b a le s o v e r 1 9 0 6 . THE CHRONICLE 420 A T T H E I N T E R I O R T O W N S t h e m o v e m e n t — th a t is, th e r e c e ip ts fo r th e w e e k a n d s in c e S e p t . 1, th e sh ip m e n ts fo r t h e w e e k a n d th e s to c k s t o - n ig h t , a n d t h e s a m e ite m s fo r t h e c o r r e s p o n d in g p er io d for t h e p r e v io u s y e a r — is s e t o u t [V O L . L X X X IK . Q U O T A T IO N S F O R M I D D L I N G C O T T O N A T O T H E R M A R K E T S .— B e lo w a re th e c lo s in g q u o t a t io n s o f m id d lin g c o tto n a t S o u th e r n a n d o th e r p r in c ip a l c o t to n m a r k e ts for e a c h d a y of th e w e e k . 105 1 1 1 1 CMr'«U-CO*OOOOCMrHCOOO,rT<Tj(cOrHiOO>OOT}<cOCMCMOO'*,t''TCMCOCOCOU*rf rHH^-HOOrM[>.cON^THO’T iOHCMCOiOOH C H N O O H q< O H I'q'C'lO-l'q'COC'liOI'-OOOOM'T'rHClHOHOMOMCSCMiOHOOiOcO Ot-uOM^Mh'tOOaMOOOcOOd'CO^UOcOC'lb'C'l^Np.iOh^r-icOh CMtN*C&lOCs*CMOcO* 'M< ,M « OOCOt^OOOOOOOOoOi— tCOCMxF CM"TT— < o rH rH HrICO TT tH D- 05 05003 0 0 ■C0‘O i O CO lC5rfOcOHT}UOO i ICM CMCCCOC©t'*O O CO ’ l 1 ICO 11C i IP* i c*» d 'O O H H m CM 1 • tj<iO cO3 p- 110 ICO 1 rH 1 HHHC4 1 1T-H (O0hCOCO5C>M0CrfOCMUXtf* •1 I1 11rH 1} O5 1 1 1 rH rH t-H rH 11lO 1 ^ y-* 1cm lOOOOrf O O f O O^M H O ^CaM O oCH O H ^M iO O M O ^ IO ICO I 1o ICOOi 0 OrH O 0 0OOCMO OOCMOoOOiOOOcO O COOOT)iXHOOifJ(OH ICO 1 O i cO IT* b-CM 05C5CMrf O I 1iO 1j O ’ CMCO iO»-H CM CM rH rHCM-M 4CMCrHO CrHM OrH ' 'CrH© ' 1orfQ TfoOHfHOOOM^OOJO’I'OO 1 rf o O COrf o QO 1 CMlOuO IO I i i i h O O oOO h O O O O H O O O Irf OlOcOHOCM i rf i I S C5 rHt» CM COO CO O 1 rf CM0 O rH 10505rH I1CrHO i11i irf i o rH ' CM ' r? ‘ ' ' ' Cm" ' 0 0 CO«DOoOH(OOcOtOOoOiOTfMc00050u5Cli050(Ob>b'C5cOTl'MP.oO{MO OcO'TCMrHOOCMOiOrHCsiCMrHcOiO«OrHCVlOT}(iOiOCM«Oc005rH-^tN*CviCV]0 «O.OaMb*'^OCICMh, COCM05iiOOcOOOb*eMH(OiOHTl'ap.OOi(5(OOH rHr-.OcOrHOCMeOCOrH»OrHOOrH05rfcOt^COt^OOO<OOt>»CVltHlO«OcOcO« CM«OrH®rH<MrH^f»OCOCO»rt 05iOl>rHOiOO«OoOrH!OCMU«C\l CMC5rHO 0 00 rHrH CM rHrHCO rHrH O rH 0 5 lO qi CON b* (OO iO»(OiOOJ lOrfH l • loO IH 1 OO ioOiO h 1 00 I 1 ihCM ii rHD- Vrt CM 1 CMlO rHrHO U*CM 1 I IrH 1 rH 1 ICO 1 1 l CO *** CO CM I I 1 rH l 100 KOHrf irHTfoO 1 rH I 1 |Q , III ' th ' ' ' ' 'cO ' Eufaula, Montgomery, Selma, Helena, Little Rock, Albany, Athens, Atlanta, Augusta, Columbus, Macon, Rome, Louisville, Shreveport, Columbus, Greenville, Greenwood, Meridian, Natchez, Vicksburg, Yazoo City, St. Louis, Raleigh, Cincinnati, ; Greenwood, Memphis, i Nashville, Brenham, 1Clarksville, ! Dallas, Honey Grove, Houston, Paris, a ,‘ . ............... ..... Alabama ___________ “ ______ ____ “ A r k a n sa s ___________ “ Georgia ___ _________ “ “ “ “ “ “ K entucky, n e t ______ Louisiana . . ______ M ississip p i ___________ “ ________ “ _____ _ _ “ ________ “ __________ “ ______ ____ 1 l 7,703 6,807,852 « 00 M issouri _____________ North Carolina _______ Ohio _______________ - South Carolina _______ Tennessee _ ___ _____ “ ___ _______ T exas _____ ________ “ ______ ____ “ _____ __________ “ _________ ______ “ __ ___________ “ _________________ cc p. 'S JOOOOcOOOOb-rf ^lOcOTfMOb- ICOOOCOOOOMOM ICO 'O ICO i ocO ’-^or'-ooc&r'-ocorHHCvjoco lO ^ojcoO 'O coO Tf i o ico too ■ rf CM CMrHO CMrHCM lOCO IH H O COH COlOGO ICO IH I CO CO CM rH CM Closing Quotations f o r M iddling Cotton on— 29,254 119,189 10 5,200,426 00 5 T otal, 33 tow ns ________ _____ ______ Stocks August S h ip Stocks ments. Aug. | W eek. , Season. | Week. 13. | >0 >-0 005 0 y-{ Shtpments. 1 Season. I Week. M ovem ent to A u g u st 13 1909. 50 O ^O r^O C eO^-<OTfCvjOTft^iOOtD fOriOOOr'*OCO IT? i O CO'-©CO'OCOO O COCOU- OO-rf tO CO rHO c©•'TSM*-<O COCi CO i O i O l OrfcCtOC^aOCOOHOO^ xf CM^ COT|<CMOO UOrHO C^CM C"* IO i rf i rHCM CM HOcOHH rH CM T* rH O C rH M rH tH ' CM Receipts. M ovem ent to August 14 1908. in d e ta il b e lo w . T h e a b o v e t o t a ls sh o w t h a t t h e in te r io r s to c k s h a v e de creased d u r in g th e w e e k 1 0 ,3 0 2 b a le s a n d a r e to -n ig h t 3 4 ,6 5 4 b a le s le s s th a n a t th e s a m e tim e la s t y e a r . T h e r eceip ts a t a ll th e to w n s h a v e b e e n 1 5 ,9 9 6 b a le s le s s th a n th e sa m e w e e k la s t y e a r . O VERLA ND M OVEM ENT FO R T H E W EEK AND S I N C E S E P T . 1 .— W e g iv e b e lo w a s t a t e m e n t sh o w in g th e o v e r la n d m o v e m e n t fo r t h e w e e k a n d s in c e S e p t. 1, a s m a d e u p fr o m te le g r a p h ic r ep o rts F r id a y n ig h t. T h e r e su lts for th e w e e k a n d sin c e S e p t. 1 in th e la s t t w o y e a r s are a s fo llo w s: ------ 191J8-09-----Since A ugust 13— Week. S ept. 1. Ship p ed — 681,133 Via St. L ouis_____________ -. . . . 2,728 157 305,751 Via C airo____________________ . . . 30,693 Via Rock Island_____________ 85,765 163 Via L o u isv ille ....... ................. .. . . . 50,415 112 Via Cincinnati. - . .. ------------. . . 395 188,005 Via Virginia points----------------277,740 213 Via other routes, A c--------------- . . . ------ 19( )7-08-----*S nee Week. Sept. 1 . 3,306 474,763 505 229,767 422 36,826 406 56,987 756 54,540 423 96,318 102 212,983 5,920 1.162,184 3,768 1,619,502 Total gross overland________ Deduct shipm ents— 383 146,323 Overland to N . Y ., Boston, Ac. 4 8,937 Between Interior tow ns---------58,392 820 Inland, A c., from Sou th--------- . . . Total to be deducted_______ . . . 1,203 Leaving total net overland* — 717 128 827 111,655 66,709 78,354 253,652 1,672 256,718 1,365,850 4,248 905,466 T h e fo r e g o in g sh o w s t h e w e e k ’s n e t o v e r la n d m o v e m e n t h a s b e e n 2 ,5 6 5 b a le s, a g a in s t 4 ,2 4 8 b a le s fo r th e w e ek la s t y e a r , a n d t h a t for th e s e a s o n to d a te th e a g g r e g a te n e t o v e r la n d e x h ib its a n e x c e s s o v e r a y e a r a g o of 4 6 0 ,3 8 4 b a le s. -------- 1908-09— Since In Sight and Spin n ers’ Week. S e p t. 1. Takings. Receipts at ports to Aug. 13____ 11,051 9,807,532 N et overland to Aug. 13_________ 2,565 1,365,850 Southern consumption to Aug. 13. 52,000 2,356,000 -------- 1907-08-------Since IVeefc. Sept. 1. 24,039 8,266,041 4,248 905,466 33,000 2,156,000 Total m arketed______________ 65,616 13,529,282 + 29,471 Interior stocks In e x c e s s................. * 10,302 61,287 11,327,507 *5,555 38,606 Came Into sight during w eek__ 55,314 13,499,811 Total In sight Aug. 13-------------- 55,732 2,790,434 7,976 N orth’n spinn’s ’ takings to Aug. 13 22,936 * Decrease during week, 11,366,113 1,905,931 x Less than Sept. 1. M o v e m e n t in to s ig h t in i>revious yea rs: Week— 1907— A u g .16 _______ 1906— A u g .17.............. 1905— A u g .1 8 . . .......... 1904— A u g .19_______ Bales. Since Sept. 1— .52,206 1906-07— Aug. 16 70,892 1905-06— Aug. 17 96,897 1904-05— Aug. 18 .30,978 1903-04— Aug. 19 Bales. 13,396,434 11,059,760 13,452,798 10,110.309 A u g . 13. G a lv e s t o n -------N ew Orleans . . --------M obile .S a v a n n a h _____ C h a r lesto n -------W ilm in g to n -----N orfolk — . . B a lt im o r e -------P h ilad elp h ia — A u g u s t a -------M e m p h is ---------S t. L o u is---------H o u s t o n ---------L ittle R o c k ____ S a t’day. M onday. Tuesday. Wcd’day. Thursd'v. F riday. 12% 12% 12 % 12% 12 12 % 12% 12% 12 12 % 12 % 12% 12% 12 % 12% 12% 12% 12 5-16 12% 12% 12% 12 5-16 12% 12% 12 % 12.70 12 % 12.85 12% 12 % 12% 12% 11% 12% 12.60 12% 12.65 12% 12% 12% 12 % 11% 12% 12.40 12% 12.85 12% 12% 12% 12 11% 12% 12.60 12% 12.85 12% 12% 12% 12 11% 12% 12.60 12% 13.05 12% 12% 12% 12% 11% 12% 12.80 12% 13.05 12% 12% 12% 12% 11% N E W O R L E A N S O P T I O N M A R K E T .— T h e h ig h e s t, lo w e s t a n d c lo s in g q u o t a t io n s for le a d in g o p tio n s in th e N e w O rlean s c o tto n m a r k e t for th e p a s t w e ek h a v e b e e n a s fo llo w s: S a t’day, A u g . 7. A u g u st— Range ______ Closing_____ September— Range ____ Closing____ October— Range ______ Closing_____ November— Range ____ Closing______ December— Range . _____ Closing . _____ Ja n u a ry — Range ______ Closing___ __ February— Han g o _____ Closing_____ M arch— Range ____ C losing........... M ay— R a n g e . ___ Closing_____ Tone— S p o t ________ O p tio n s____ M onday, Tuesday, Wed’day, Thursd'v, Friday, A u g . 9. A ug. 10. A ug. 11. A ug. 12. A ug. 13. — @ — 11.74-.80 — @ — — @ — — @ — — @ — 11.80 * 11.85 — 12.11 — 12.10 — 12.30 — 12.23 — 11.99-.01 11.84-.89 — @ — — 11.08 12.24 — 12.14 - . 15 11.99 — 11.82 * 12.06- .09 12.04 — 12.24 — 12.15 — 11.89.02 11 .68-.83 1 1.77-.02 I 1.06-.11 12.05-.27 1 l .99 .18 ll.9 1 -.9 2 l 1.75-.76 12.01-.02 12.00-.01 12.20-.21 1 1 .U -.12 — @ — — @ — — @ — — @ — — @ — 11.91 .93 11.75-.77 12.01- .03 12.00-.02 12.20-.22 12.11-.13 1 1.89.02 11.68-.83 11.77-.02 l l . 9 6 - . i l 12.05-.25 11.97-.15 11.92.93 11.76 — 12.0l-.02 12.00 — 12.19-.20 12.08-.0# 1l .93-.04 l 1.72-.87 1 l .82-.06 12.03-.14 12.09- .28 11.95-.96 lt.80-.81 12.05-.06 12.0.3-. 04 12.22-.23 — @ — — @ ■ — — @ — — at — — @ — 12.00 * 11.85-.87 12.10-.12 12.07-.09 12.26-.28 12.08- .20 11.87-.00 1 1.96-.18 12.17-.30 12.26-.42 1 2 .1 0 -.il 11.94-.95 12.20-.21 12.18-.19 12.37-.38 — @ — — (® — 12.06-. 23 12.24-.34 — 0 — 12.15 * 11.95-.96 12.26 — 12.23-.25 12.43-.45 Steady. Steady. Steady. Steady. Firm. Firm. Firm. Steady. Steady. Steady. 12.00-.1* 12.11-.12 — @ — 12.15-. 17 12.19-.33 12.26-.28 — ® — 12.31-.33 Firm. Steady. • Nominal. W E A T H E R R E P O R T S B Y T E L E G R A P H — O ur te le g r a p h ic a d v ic e s fr o m t h e S o u th th is e v e n in g in d ic a t e th a t a s a ru le th e w e a th e r h a s b e e n f a v o r a b le d u r in g th e w e e k . R a in h a s fa lle n a t m o s t p o in ts , w ith th e p r e c ip ita tio n lig h t or m o d e r a te a s a r u le. A d v ic e s d e n o te t h a t th e cro p is im p r o v in g in a n u m b e r o f lo c a litie s b u t it is c la im e d t h a t in T e x a s c o tto n c o n tin u e s to d e te r io r a te . Galveston, Texas.— T h e cro p , it is c la im e d , c o n tin u e s to d e te r io r a te in T e x a s . W e h a v e h a d rain o n e a c h d a y d u rin g th e w e e k , th e ra in fa ll b e in g th r e e in c h e s a n d s i x t y - s i x h u n d r e d th s. T h e th e r m o m e te r h a s r a n g e d fr o m 71 to 8 8 , a v e r a g in g 8 0 . . Abilene, Texas.— W e h a v e h a d rain on tw o d a y s d u rin g th e w e e k , th e r a in fa ll b e in g t h ir t y - s ix h u n d r e d th s o f a n in c h . A v e ra g e th e r m o m e te r 8 4 , h ig h e st 9 8 , lo w e s t 7 0 . Brenham, Texas.— I t h a s r a in e d o n th r e e d a y s d u rin g th e w e e k , th e p r e c ip ita tio n b e in g o n e in c h a n d th ir ty h u n d r e d th s . T h e th e r m o m e te r h a s a v e r a g e d 8 7 , th e h ig h e s t b e in g 98 a n d th e lo w e st 7 5 . . Corpus Christi, Texas.— T h e r e h a s b e e n ra in on fo u r d a y s d u rin g th e w e e k , t h e p r e c ip ita tio n r e a c h in g o n e in c h a n d s ix h u n d r e d th s. T h e th e r m o m e te r h a s a v e r a g e d 8 2 , r a n g in g fr o m 7 6 to 8 8 . Cuero, Texas.— W e h a v e h a d lig h t ram on th r e e d a y s d u r in g th e w e e k . T h e th e r m o m e te r h a s r a n g ed fr o m 70 to LOO, a v e r a g in g 8 5 . Dallas, Texas.— R a in h a s fa lle n on th r e e d a y s d u rin g th e w e ek a n d th e p r e c ip ita tio n h a s b e e n e ig h te e n h u n d r e d th s o f a n in c h . A v e r a g e th e r m o m e te r 8 8 , h ig h e s t 106 a n d lo w e s t 70. Fort Worth, Texas.— T h e w e e k ’s ra in fa ll h a s b e e n fo r ty h u n d r e d th s of a n in c h , o n th r e e d a y s . T h e th e r m o m e te r h a s a v e r a g e d 8 6 , t h e h ig h e s t b e in g 100 a n d th e lo w e st 7 2 . Henrietta, Texas.— R a in h a s fa lle n o n tw o d a y s of th e w e e k , t h e ra in fa ll b e in g t w e n t y - s e v e n h u n d r e d th s o f an in c h . T h e th e r m o m e te r h a s a v e r a g e d 8 9 , ra n g in g fro m 73 to 105. Huntsville, Texas.— W e h a v e h a d rain on tw o d a y s d u rin g th e w e e k , to th e e x t e n t o f t h ir ty -n in e h u n d r e d th s of a n in c h . T h e th e r m o m e te r h a s r a n g e d fro m 7 2 to 9 7 , a v e r a g in g 8 5 . Kerr mile, Texas.— R a in h a s la lle n o n o n e d a y of th e w e e k . T h e r a in fa ll r e a c h e d t w e n t y h u n d r e d th s of a n in c h . A v e r a g e th e r m o m e te r 8 0 , h ig h e s t 9 4 , lo w e st 65 . Lampasas, Texas.— T h e r e h a s b een rain on o n e d a y d u rin g th e w e e k , t h e r a in fa ll b e in g s e v e n t y h u n d re d th s o f a n in c h . T h e th e r m o m e te r h a s a v e r a g e d 8 7 , t h e h ig h e st b e in g 105 a n d th e lo w e st 6 9 . L o n g v i e w , T e x a s . —It has rained on three days of the week, the precipitation being fifty-two hundredths of an inch. The thermometer has averaged 84, ranging from 70 to 98. L u l i n g , T e x a s . — We have had rain on three days during the week, the precipiation reaching sixty-seven hundredths of an inch. The thermometer has ranged from 72 to 96, averag ing 84. N a c o g d o c h e s , T e x a s . — Rain has fallen on two days of the week, the rainfall being ninety hundredths of an inch. Average thermometer 84, highest 97, lowest 71. P a l e s t i n e , T e x a s . — We have had rain on three days during the week, the precipitation being ninety-eight hundredths of an inch. The thermometer has averaged 84, the highest being 90 and the lowest 72. P a r i s , T e x a s . —The week’s rainfall has been one inch and four hundredths, on two days. The thermometer has aver aged 86, ranging from 69 to 103. S a n A n t o n i o , T e x a s . — We have had rain on three days during the week, the precipitation reaching fifty-two hun dredths of an inch. The thermometer has ranged from 70 to 96, averaging 83. T a y l o r , T e x a s . — Rain on four days of the week to the extent of seventy-four hundredths of an inch. Average thermometer 85, highest 98, lowest 72. W e a t h e r f o r d , T e x a s . — We have had rain on four days the past week, the rainfall being one inch and ninety-six hun dredths. The thermometer has averaged 86, the highest being 104 and the lowest 72. N e w O r l e a n s , L o u i s i a n a . —There has been rain on each day during the week, the precipitation reaching three inches and seventy-six hundredths. The thermometer has aver aged 80. S h r e v e p o r t , L o u i s i a n a .—There has been rain on three days during the week, the rainfall being one inch and twenty-six hundredths. The thermometer has ranged from 69 to 95, averaging 82. V i c k s b u r g , M i s s i s s i p p i .— Rain has fallen on four days during the week and the precipitation has been one inch and ninety-two hundredths. Average thermometer 80, highest 91 and lowest 70. H e l e n a , A r k a n s a s . —Crops are improving. Rain has fallen on four days of the week, the rainfall being twenty-four hun dredths of an inch. The thermometer has averaged 81.6, ranging from 72 to 93. L i t t l e R o c k , A r k a n s a s . —There has been rain on four days the past week, the rainfall being two inches and seventy-four hundredths. The thermometer has ranged from 70 to 91, averaging 80.1. M e m p h i s , T e n n e s s e e . — Rains have generally covered this territory. The crop is progressing well. Rain has fallen on five days of the week. The rainfall reached one inch and seventy-six hundredths. Average thermometer 80.9, high est 92.2, lowest 70.3. N a s h v i l l e , T e n n e s s e e . —There has been no rain during the week. The thermometer has averaged 85, the highest being 96 and the lowest 74. M o b i l e , A l a b a m a . — Weather generally favorable but there are complaints of too much rain in a few localities. There has been rain on each day during the week, the pre cipitation reaching one inch and eighty-two hundredths. The thermometer has averaged 80, ranging from 74 to 92. M o n t g o m e r y , A l a b a m a . —Cotton is three weeks late on the average, but is improving. We have had rain on three days during the week, the rainfall being two inches and fifty hundredths. The thermometer has ranged from 70 to 92, averaging 80. S e l m a , A l a b a m a . — Rain on five days of the week, to the extent of two inches and fifty-seven hundredths. Average thermometer 79, highest 90, lowest 71. A u g u s t a , G e o r g i a . —It has rained on three days of the week, the precipitation being fifty-one hundredths of an inch. The thermometer has averaged 79, ranging from 70 to 92. _ S a v a n n a h , G e o r g i a . —The week’s rainfall has been two inches and sixty-nine hundredths, on five days. The ther mometer has averaged 80, ranging from 71 to 92. C h a r l e s t o n , S o u t h C a r o l i n a . — Rain has fallen on four days of the week, the rainfall being fifty-four hundredths of an inch. Average thermometer 82, highest 92, lowest 74. C h a r l o t te , N o r t h C a r o l i n a . —The cotton plant is fruiting well. We have had rain the past week, the rainfall being eleven hundredths of an inch. The thermometer has aver aged 78, the highest being 92 and the lowest 66. The following statement we have also received by tele graph, showing the height of rivers at the points named at 8 a. m. of the dates given: ., N e w O r l e a n s ___________A b o v e M e m p h i s ______________ A b o v e N a s h v ille . A bove S h r e v e p o r t________B e l w V i c k s b u r g . .............. ..........A b o v e •Above. z e ro z e ro z ero z e ro z e ro of of of of of gauge. gauge. gauge. gauge. gauge. A u g . 13 1 9 0 9 . F eet. 1 1 .0 1 5 .0 8 .9 2 .4 2 2 .9 A u g . 14 1 9 0 8 . F eet. 8 .9 1 4 .0 7 7 * 4 .0 1 9 .4 C O T T O N C R O P C I R C U L A R .— O ur A n n u a l C o tto n Crop R e v ie w w ill b e r ea d y in circu lar fo r m a b o u t W e d n e s d a y , S e p t. 8. P a r tie s d e sir in g th e circu lar in q u a n t it ie s , w ith th e ir b u sin e ss ca rd p r in te d th e r e o n , sh o u ld se n d in th e ir ord ers a s so o n a s p o s sib le to se c u r e e a r ly d e liv e r y . I N D I A C O T T O N M O V E M E N T F R O M A L L P O R T S .— T h e r e c e ip ts o f c o tto n a t B o m b a y a n d th e sh ip m e n ts fro m a ll I n d ia p o r ts for t h e w e ek a n d for th e se a so n fro m S e p t . 1 for th r e e y e a r s h a v e b een a s fo llo w s: A u g u st 12. 1 9 0 8 -0 9 . R e ceip ts a t — W eek. Bom bay W eek. 3 ,0 0 0 2 ,0 9 6 ,0 0 0 G reat C o n ti B r ita in . n en t. B om bay— 1 9 0 8 -0 9 19071906- 0 7 C a lc u t t a — 190819071 9 0 6 - 07 M ad ras— 190819071906A ll o t h e r s — 190819071906T o t a l a ll— 19081 9 0 7 - 08 1 9 0 6 -0 7 S in c e S e p t. 1. 08 ... 1 6 ,0 0 0 3 ,0 4 6 ,0 0 0 S in c e Sep tem b er 1 . G reat B r ita in . T o ta l. C o n ti n en t. T o ta l. 6 ,0 0 0 3 .0 0 0 1 2 ,0 0 0 2~,666 3 .0 0 0 2",666 3 .0 0 0 6 ,0 0 0 5 .0 0 0 9 .0 0 0 4 5 .0 0 0 2 7 .0 0 0 ; 1 4 9 ,0 0 0 5 1 .0 0 0 3 2 .0 0 0 1 5 8 .0 0 0 4",666 7 .0 0 0 4',66o 7 .0 0 0 7 .0 0 0 1 0 .0 0 0 6 .0 0 0 2 8 .0 0 0 3 2 ,,0 0 0 4 4 ,0 0 0 3 5 .0 0 0 4 2 .0 0 0 5 0 .0 0 0 2 ,66 6 3 ,0 0 0 8 .0 0 0 7 ,0 0 0 1 6 ,0 0 0 8 .0 0 0 9 ,0 0 0 1 9 ,0 0 0 2 8 ,0 0 0 2 5 .0 0 0 1 8 .0 0 0 3 1 0 .0 0 0 2 7 2 .0 0 0 2 4 7 .0 0 0 3 3 8 .0 0 0 2 9 7 .0 0 0 2 6 5 .0 0 0 1 ,0 0 0 2 ,0 0 0 3 ,0 0 0 1 3 .0 0 0 1 6 .0 0 0 3 8 ,0 0 0 1 4 .0 0 0 1 8 .0 0 0 4 1 ,0 0 0 6 6 ,0 0 0 9 6 8 .0 0 0 1 .0 3 4 .0 0 0 6 8 ,0 0 0 9 7 4 .0 0 0 1 .0 4 2 .0 0 0 8 6 ,0 0 0 1 ,6 2 0 ,0 0 0 1 .7 1 6 .0 0 0 09. 08_ 07. 09. S in c e S e p t. 1 . 5 .0 0 0 3 .0 0 0 1 2 ,0 0 0 1 ,0 0 09 08. 09. 08 0 7 .. W eek. 8 ,0 0 0 2 ,0 4 6 ,0 0 0 F o r the W eek. F x p o rts fr o m — •1 9 0 6 -0 7 . 1 9 0 .7 -0 8 . S in c e S e p t. 1 . A L E X A N D R IA R E C E IP T S A le x a n d r ia , E g y p t, A u g u st 11. 2 5 .0 0 0 6 1 0 ,0 0 0 5 8 5 .0 0 0 2 8 .0 0 0 6 7 1 .0 0 0 0 4 3 .0 0 0 6 3 .0 0 0 1 ,1 8 0 ,0 0 0 1 ,2 4 3 ,0 0 0 AND S H IP M E N T S . 1 9 0 8 -0 9 . 1 9 0 7 -0 8 . 1 9 0 6 -0 7 . N ot r e c e iv e d 9 ,0 0 0 7 ,1 6 9 ,6 7 1 300 6 ,8 6 1 ,5 1 9 T h is S in c e W eek. S e p t. 1. T h is S in c e W eek. S e p t. 1. T h is S in c e W e e k . S e p t. 1 . 1 9 3 ,9 6 8 2 1 8 ,4 4 4 3 6 3 ,0 3 6 8 9 ,3 5 5 2 ,0 0 0 2 2 8 ,9 4 5 2 1 0 ,6 8 8 5 ,7 5 0 3 7 6 ,3 0 9 1 ,0 0 0 7 6 ,8 7 8 1 .7 5 0 2 2 2 ,7 0 7 2 0 7 ,8 3 6 1 .7 5 0 3 5 3 ,8 5 0 6 0 0 1 1 8 ,6 7 5 8 6 4 ,8 0 3 8 ,7 5 0 8 9 2 ,8 2 0 4 ,1 0 0 9 0 3 ,0 6 8 R e ceip ts ( c a n t a r s ) — T h is w e e k ____________ S in c e S e p t . 1 ___________ E x p o rt (b a le s ) — T o M a n c h e s t e r .............. .. T o C o n t in e n t ......................... T o A m e r ic a ____ __________ T o t a l e x p o r t s _________ , O 13i: $5 8 K N o te . — A c a n t a r Is 9 9 lb s . E g y p t ia n b a le s w e ig h a b o u t 7 5 0 lb s . T h e s t a t e m e n t s h o w s t h a t t h e r e c e ip ts fo r th e w e e k w e re ---------- c a n ta r s a n d th e fo r eig n s h i p m e n t s ______ b a le s . E U R O P E A N C O T T O N C O N S U M P T I O N T O A U G U S T 1. — B y c a b le to -d a y w e h a v e Mr. E llis o n ’s c o t to n fig u res b r o u g h t d o w n to A u g . 1. W e g iv e a lso r e v ise d t o t a ls for la s t y e a r , t h a t c o m p a r is o n m a y b e m a d e . T h e s p in n e r s ’ ta k in g s in actual b a le s a n d p o u n d s h a v e b e e n a s fo llo w s: October 1 to A u g u s t 1. G reat B r ita in . C o n tin en t. T o ta l. For 1908-09. T a k in g s b y s p i n n e r s . . . . b a l e s . 5 ,3 4 1 ,0 0 0 8 ,4 3 5 ,0 0 0 3 , 0 9 4 ,0 0 0 A v e r a g e w e ig h t o f b a l e s ____ l b s . 510 485 4 9 4 .2 T a k in g s in p o u n d s . . _ ______ 1 ,5 7 7 ,9 4 0 ,0 0 0 2 , 5 9 0 ,2 8 5 ,0 0 0 4 , 1 6 8 ,2 2 5 ,0 0 0 For 1907-08. T a k in g s b y s p in n e r s ___. . b a l e s . A v e r a g e w e ig h t o f b a le s ____ l b s . 8 ,4 1 4 ,0 0 0 5 ,1 8 9 ,0 0 0 3 ,2 2 5 ,0 0 0 480 506 490 1 ,6 3 1 ,8 5 0 ,0 0 0 2 ,4 9 0 ,7 2 0 ,0 0 0 4 , 1 2 2 ,5 7 0 ,0 0 0 A c co r d in g to th e a b o v e , th e a v e r a g e w e ig h t of t h e d e liv eries in G rea t B r ita in is 5 1 0 p o u n d s p er h a le th is s e a s o n , a g a in s t 5 0 6 p o u n d s d u rin g th e s a m e tim e la s t s e a s o n . T h e C o n tin e n ta l d e liv e r ie s a v e r a g e 4 8 5 p o u n d s , a g a in s t 4 8 0 p o u n d s la s t y e a r , a n d for th e w h o le of E u r o p e t h e d e liv e r ie s a v e r a g e 4 9 4 .2 p o u n d s p er b a le , a g a in s t 4 9 0 p o u n d s la s t s e a s o n . O ur d is p a tc h a lso g iv e s t h e fu ll m o v e m e n t for t h is y e a r a n d la s t y e a r in b a le s o f 5 0 0 p o u n d s. October 1 to A u g u s t 1. B a les o f 5 0 0 lbs. each. 0 0 0 s om itted . 1 9 0 7 -0 8 1 9 0 8 -0 9 Great C o n ti Great C o n ti B rita in nen t. T o ta l. B rita in n en t. T o ta l. S p in n e r s ’ s t o c k O c t. 1 . . ____ T a k in g s t o A u g . 1 _____________ 308 3 ,1 5 6 1 ,0 4 6 5 ,1 8 0 1 ,3 5 4 8 ,3 3 6 367 3 ,2 6 3 1 ,0 8 9 4 .9 8 1 1 ,4 5 6 8 ,2 4 4 S u p p ly _____________________ C o n s u m p t io n , 4 3 w e e k s _______ 3 ,4 6 4 3 ,1 1 0 6 ,2 2 6 4 ,3 7 0 9 ,6 9 0 7 ,8 4 0 3 ,6 3 0 3 ,2 7 4 6 ,0 7 0 4 ,7 3 0 9 ,7 0 0 8 ,0 0 4 354 1 ,4 9 6 1 ,8 5 0 356 1 ,3 4 0 1 ,6 9 6 30 60 78 80 80 80 80 80 30 80 110 110 no 110 110 11 0 110 no no 110 140 170 188 190 190 190 190 190 190 190 78 78 78 78 78 78 78 78 68 68 110 110 110 110 110 110 110 110 110 110 188 188 188 188 188 188 188 188 178 178 S p in n e r s ’ s t o c k A u g . 1 ____ W eek 's C o n su m p tio n , 0 0 0 s om itted. In In In In In In In In In In O c to b e r _ . _____________ N ovem ber . __________ D e c e m b e r __________________ .J a n u a ry ________ ________ F e b r u a r y ____ ______________ M a rch _____ _____ - A p ril ______________________ M ay _____________ J u n e ....................................... - J u l y _______________________ T h e fo r e g o in g sh o w s t h a t th e w e e k ly c o n s u m p tio n is n o w 1 9 0 .0 0 0 b a le s o f 5 0 0 p o u n d s e a c h , a g a in s t 1 7 8 ,0 0 0 b a le s o f lik e w e ig h ts a t th e c o r r e s p o n d in g tim e la s t y e a r . T h e to ta l s p in n e r s ’ s to c k s in G rea t B r ita in a n d o n th e C o n tin e n t h a v e d e c re a se d 1 3 5 ,0 0 0 b a le s d u rin g th e m o n t h , b u t a re n o w 1 5 4 .0 0 0 b a le s m ore th a n a t th e sa m e d a te la s t se a s o n . M A N C H E S T E R M A R K E T .— O ur r ep o rt r e c e iv e d b y c a b le t o -n ig h t from M a n ch ester s t a t e s t h a t th e m a r k e t is firm for y a r n s a n d s t e a d y for s h ir tin g s . M erch a n ts a re n o t w illin g to p a y p r e s e n t p r ice s. W e g iv e th e p r ice s fo r to -d a y b e lo w a n d le a v e th o s e fo r p r e v io u s w e e k s o f th is a n d la s t y e a r for c o m p a r is o n . 1908. 1909. 8% lbs. Shirt- Col'n M id. U pl’s Mgs, common to finest 32s Cop T w ist. d . 8. d . d. s. 8% lbs. Shirt- Twist. d. s . d. d. d. 0 1% 3 2 3 6.33 6.75 6.72 6.4 8 6.73 8% 8 9-16 8% 8% 8% 2 2 6.69 8% 6.7 2 8% Ju ly 8% 8% 9% 8% 9% 9 16 23 30 Aug. 6 9 13 9 4 4 4 4 4 10 @ 9 10% @ 9 11 @9 10 @9 10% @9 © © © © © 9% 9% 9% 9% 9% © © 9% 4 10 9% 4 10 @9 @9 Col'n M id. Upl's ings, common to finest. 32s Cop d. s. 5 1 5 0% 5 0 4 11 4 11 @8 @8 @8 @8 @8 @ @ ® @ @ 9% 9% 9% 9% 9% @ @ 9% 4 11 @ 8 9% 4 10% @ 8 d. d. 3 2 1% 1 1 6.27 6.34 6.10 5.98 6.02 0 0 6.26 5.92 WORLD’S SUPPLY AND TAKINGS OF COTTON.— The following brief but comprehensive statement indicates at a glance the world’s supply of cotton for the week and since Sept. 1 for the last two seasons, from all sources from which statistics are obtainable, also the takings, or amounts gone out of sight, for the like period. C otton Takings. Week and Season. V is ib le s u p p l y A u g . 6 1 9 0 8 -0 9 . W eek . 1 9 0 7 -0 8 . S ea so n . . _______ A m e r lc a n 'ln s ig h t t o A u g . 13 _ . _ B o m b a y r e c e ip t s t o A u g . 1 2 ___ O th e r I n d ia s h l p ’ts to A u g . 12_ _ A le x a n d r ia r e c e ip t s t o A u g . 1 1 O th e r s u p p ly t o A u g . 11 W eek. Sea so n . 1 ,9 5 1 ,9 2 8 5 5 ,3 1 4 3 .0 0 0 8 .0 0 0 "" 2 ,6 6 6 1 ,7 1 4 ,9 8 2 1 3 ,4 9 9 ,8 1 1 2 ,0 9 6 ,0 0 0 4 2 4 .0 0 0 8 9 0 .0 0 0 2 0 6 .0 0 0 2 .2 9 1 ,8 4 4 5 5 ,7 3 2 11 > 366,113 3 .0 0 0 2 ,0 4 6 ,0 0 0 1 5 ,0 0 0 3 7 1 .0 0 0 1 .0 0 0 9 5 6 .0 0 0 1 ,0 0 0 2 5 6 .0 0 0 1 8 ,8 3 0 ,7 9 3 2 ,0 3 2 ,6 6 0 1 7 ,2 8 6 ,9 5 7 D ed uct — 2 ,1 6 7 ,8 5 3 1 ,8 6 3 ,2 9 6 V is ib le s u p p l y A u g . 1 3 _________ 2 ,1 6 7 ,8 5 3 T o t a l t a k in g s t o A u g . 1 3 _______ O f w h ic h A m e r ic a n ___________ O f w h ic h o t h e r . . - . . 1 9 1 ,5 6 7 1 6 .6 6 2 .9 4 0 1 7 4 ,9 4 7 1 2 .8 5 9 .9 4 0 1 7 ,0 0 0 3 ,8 0 3 ,0 0 0 S H I P P I N G N E W S .— A s sh o w n o n a e x p o r t s o f c o t to n fr o m th e U n it e d S t a t e s r ea c h e d 1 1 ,5 2 8 b a le s . T h e s h ip m e n t s u p fr o m m a il a n d te le g r a p h ic r e tu r n s, a re 1 ,8 6 3 ,2 9 6 1 6 9 .3 6 4 1 5 .4 2 3 .6 6 1 1 2 3 .3 6 4 1 1 .6 4 5 .6 6 1 4 6 ,0 0 0 3 ,7 7 8 ,0 0 0 p r e v io u s p a g e , th e t h e p a s t w e ek h a v e in d e ta il, a s m a d e a s fo llo w s: T otal bales. N E W Y O R K — T o L iv e r p o o l— A u g . 6 — C e d r ic , 3 , 1 6 7 ----------------------T o M a n c h e s te r — A u g . 6 — C a n o v a , 7 2 u p la n d , 10 0 S e a I s la n d __ T o B r e m e n — A u g . 11 — -B r e m e n , 1 , 3 7 7 ------------------------------------------T o G e n o a — A u g . 1 0 — I n d ia n a , 6 1 4 ------------------------------------------------T o T r ie s t e — A u g . 10— M a r th a W a s h in g t o n , 3 0 0 --------------------------T o F lu m e — A u g . 1 0 — M a r th a W a s h in g t o n , 1 5 0 ----------------------------N E W O R L E A N S — T o O p o r to — A u g . 1 0 — M ig u el M . P I n illo s , 5 0 0 - .. T o B a r c e lo n a — A u g . 10— M ig u el M . P I n illo s , 2 ,0 2 5 — A u g . 1 2 — C a r o lin a , 3 7 5 ______________________________________________________ T o V e n ic e — A u g . 1 2 — C a r o lin a , 1 , 2 0 0 -------------------------------------------T o T r ie s t e — A u g . 12— C a r o lin a , 5 0 0 ----------------------------------------------S A V A N N A H — T o H a m b u r g — A u g . 7 — P e n n in e R a n g e , 1 0 0 -----------B O S T O N — T o L iv e r p o o l— A u g . 10— S a x o n la , 1 7 6 -----------------------------B A L T I M O R E — T o L iv e r p o o l— A u g . 6— V e d a m o r e , 3 7 2 — ................... P H I L A D E L P H I A — T o L iv e r p o o l — A u g . 1 3 — M e r lo n , 4 0 0 ---------------T o A n tw e r p — A u g . 5 — S a m la n d , 1 0 0 -------------------------------------------- 3 ,i0 7 172 1 ,3 7 7 61 4 300 150 50 0 2 ,4 0 0 1 ,2 0 0 50 0 10 0 176 372 400 10 0 T o t a l ------------ ------------------------------------------------------------------------------------- 1 1 ,5 2 8 LIVERPOOL.— By cable from Liverpool we have the fol lowing statement-of the week’s sales, stocks, &c., at that port: J u ly 23. S a le s o f t h e w e e k --------------------1 ,0 0 0 O f w h ic h s p e c u la t o r s t o o k - . 3 ,0 0 0 O f w h ic h e x p o r te r s t o o k ___ . S a l e s , A m e r i c a n . - ____________ - 3 7 ,0 0 0 5 ,0 0 0 A c t u a l e x p o r t _________________ . F o r w a r d e d ...... .......... ....................... . 5 5 ,0 0 0 T o t a l s t o c k — E s t im a t e d _____ - 9 9 7 ,0 0 0 O f w h ic h A m e r ic a n — E s t - . . 9 0 5 ,0 0 0 T o t a l I m p o r ts o f t h e w e e k ___ _ 3 2 ,0 0 0 2 0 ,0 0 0 O f w h ic h A m e r ic a n ________ A m o u n t a f l o a t _________ ____ _ 5 2 ,0 0 0 O f w h ic h A m e r ic a n _______ . 2 7 ,0 0 0 J u ly 30. A u g . 6. 3 2 ,0 0 0 400 1 ,4 0 0 2 7 ,0 0 0 6 ,0 0 0 3 9 ,0 0 0 9 7 6 ,0 0 0 8 8 7 ,0 0 0 2 3 ,0 0 0 1 8 ,0 0 0 4 5 ,0 0 0 2 0 ,0 0 0 4 8 ,0 0 0 1 ,0 0 0 A u g . 13. 3 7 .0 0 0 _ 4 2 ,0 0 0 3 ,0 0 0 5 9 ,0 0 0 9 3 2 ,0 0 0 8 4 5 ,0 0 0 1 7 ,0 0 0 7 ,0 0 0 5 7 ,0 0 0 2 7 ,0 0 0 3",666 3 3 .0 0 0 4 ,0 0 0 4 4 .0 0 0 0 1 1 ,0 0 0 818,000 2 6 .0 0 0 1 5 .0 0 0 5 7 .0 0 0 21.000 The tone of the Liverpool market for spots and futures each day of the past week and the daily closing prices of spot cotton have been as follows: BREADSTUFFS. F r i d a y N i g h t , A u g . 13 1909. Flour has declined, mainly in sympathy with the weakness in wheat. Receipts of winter wheat at interior points have been fairly large, while arrivals of spring wheat have been small. Winter-wheat flour for early delivery has been plentiful, while spring-wheat flour has been scarce. On the other hand, new spring flour to arrive has been freely offered and at relatively lower figures than winter. This was traceable largely to the excellent weather and bright outlook for a record crop in the Northwest. It made springwheat millers eager to sell for September, October and No vember shipments. As a natural result, winter-wheat millers were compelled to make concessions in order to retain their trade. Business, however, of late has been only moderately active, as the weakness in wheat has served to make many buyers cautious. Wheat has declined rapidly. Speculators for the decline were bold and aggressive. Crop reports have been favorable. Receipts of winter wheat at primary points were heavy. Barring a few showers, the weather in the Northwest has been favorable, and hence harvesting of spring wheat made rapid progress. In nearly all cases harvesting returns were highly satisfactory, the yields in many sections proving better than was expected. It has even been asserted that the crop would be a record-breaker. The most potent in fluence was the monthly crop report of the Department of Agriculture, which proved very favorable. It showed only an insignificant reduction in the condition of the springwheat crop, and, what was more remarkable, it placed the yield of winter wheat at 432,920,000 bushels, or fully 32, 000,000 bushels above estimates made by private sta tis-. ticians. The total was far in excess of estimates. Some consider it an error in compilation, as was the case, it is con tended, a year ago. Good winter wheat in May and June was nearly impossible to obtain, even at $1 65 per bushel. The present area is over 2,000,000 acres smaller than a year ago. According to the official condition figures, the spring-, wheat yield promises to be close to 300,000,000 bushels, which would make a probable grand total of 732,920,000 bushels, supposing that the winter-wheat production turns out to be as large as alleged. This indicates an apparent gain of roundly 70,000,000 bushels compared with last year; but some insist that this is misleading. The downward trend was also partly attributable to the discouraging tenor of cable advices. In the markets of Western Europe more oz less dulness and sluggishness has prevailed. Advices from there suggest that they have been influenced by the ample shipments from Russia and the Danube and the larger offerings of new wheat in that quarter for early ship ment at lower figures. To-day there was more firmness and a partial recovery. Offerings were light and Sellers for the decline showed eagerness to cover. Buying was largely prompted by more definite reports of damage by rust in the Northwest, by higher figures for prime wheat in cash markets and by a bullish report from the “ Modern Miller,” which stated that the crop of winter wheat cast of the Rockies is 22,000,000 bushels less than that of last year, while much of it was inferior, some of it not fit for milling. D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S I N NEW YO RK . S a t. N o . 2 red winter, f . o . b _, September delivery................ December delivery________ M a y d e l iv e r y ------------------------ 11 3 % 108% 1 05% 107 !; M arket. 12:15 I’ . M. Saturday M onday. Tuesday. D u ll. Easier. Q uiet. 1 1 1 Wednesday. Thursday. More dem and. Q uiet. Friday. D u ll. Mid. Upi Vis 6.66 6 55 6.5 5 6.61 6 .66 6.72 S a l e s .......... S p e c .& e x p . 7,000 500 7 ,0 0 0 300 8 ,0 0 0 300 10,000 500 7 ,0 0 0 500 4,000 500 Futures. Q uiet a t I 5 @6 points decline. M arket opened ) M arket 4 P . M. } 6% @9% ) d ecline. 1 E asy a t W eak a t 9 points declin e. S te a d y a t 1 @2 points ad v a n ce. Q u iet a t 7 points a d v a n ce. Q u iet a t Q uiet a t 1 @2 points 4 @5 points decline. advance. Firm a t E a sy a t Q u iet at S te a d y a t 10% @11% 2% @ 5 p ts. 6% @8 p ts. 2 @ 4 p ts. a d v a n ce. a d v a n ce. ad v a n ce. decline. W eak a t % @3 p ts. decline. The prices of futures at Liverpool for each day are given below. Prices are on the basis of upland, good ordinary clause, unless otherwise stated. T h e p rices are g iv en in pence a n d 1 0 0 th s. S a t. A ug. 7 to 12 K A u g . 1 3 . p .m . 12 H p .m . d. M on. __ 6 T h u s , 6 50 m ea n s 6 50-lQ Q d. W ed. Thurs. Fri. 12 4 4 12^ 4 12M 4 12M 4 12 H p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . d. 6 50 A u gu st A u g .- S e p . 6 42 S e p t .- O c t . 6 39 % O c t .- N o v . 6 39 N o v . - D e e . ____ 6 3 8 % D e c .-J a n . 6 38% J a n .- F e b . 6 39 F e b .-M c h . 6 39 M c h .-A p r . 6 39 A p r .- M a y ____ 6 39 0 39 M ay-.Tune 6 39 J u n c - J p ly 37% J u ly -A u g . T u es. d. d. 43 33% 32 31% 31 31 31% 31 % 31% 31 % 31% 31 % 30 39 30% 28 28% 28 28 28% 28 % 28 % 28 % 28% 28% 27 cl. d. XA 4 4 4? 33 30% 31 31 31 31% 31% 31 % 31% 31% 31% 30 35 31 31 31 31 31 % 31 % 31 % 31 % 31 % 31% 30 d. d. d. d. 54 54 51 49 45% 45% 3 9 Vs 42 42 42 38 36 41% 41% 38 36 3 7 % 4 1 % 41 36 3 7 % 4 1 % 41 36 38 4 1 % 41 36 41 % 41 38 36 4 1 % 41 38 36 38 41% 40% 36 40% 41 38 36 38 40% 40% 36 39 37 39 34 d. 59 ow U. 50 46% 46 45 % 45% 45 % 45 % 45% 45 45 44% 43 a. 53 % 53 % 40 39% 39 39 39 39 38 % 38 38 37% 30 T ues. 112 111 107 % 1 0 5 % 104% 102% 10 6 % 1 0 4 % W ed. T h u r s . F r i, 112 106% 1 03% 1 05% 111% 106% 103% 105% 110% 107% 104% 106 D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S I N CHICAGO. S a t. Spot. M on. September delivery December delivery M a y delivery_____ 100 97 % 101% M on. T u e s. 98% 06 % 99 % 97% 95 % 98% W ed . T h u r s . F r i. 98 % 05 % 99 % 07 % 95 98 % 98 % 95 % 98 % Corn was irregular and unsettled. There were many con flicting influences. For one thing advices respecting crop prospects were decidedly uncertain. Reports from various parts of the corn belt were decidedly at variance. According to some so-called experts that crop has deteriorated matern ally, owing to the extreme heat and drought, whilejother experts in adjacent territory declared that the damage had been greatly exaggerated. Indeed, many reports stated that little or no harm had been done. It was, however, plainly evident that temperature had been too high west ofthe Mississippi River, and it was also easy to see that copious rains were badly needed. Now and then rallies occurred. This was partly ascribed to the great scarcity of contract grades and to over-confidence among the bear element. It was, therefore, believed that the market was heavily over sold. Moreover, there was more or less indecision created by the official crop report, which was variously interpreted. Some considered it unfavorable because it lowered the con dition practically 5 points, or more than was generally ex pected, but even so some dealers thought the report satis factory on account of the fact that it suggested the biggest crop on record—3,000,000,000 bushels—provided the weather does not suddenly turn bad. Of course protracted drought and intense heat may cause some loss. The rise resulting from the dry, hot weather west of the great river was partly checked by beneficial rains east of that river. To-day a stronger feeling was noticeable. Offerings^ were smaller, while sellers for the decline were nervous. This was mainly chargeable to reports of deterioration and notably west of the Mississippi River, where it was still dry and hot. T H E D R Y GOODS T R A D E . D A 'lL Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N I N N E W Y O R K . S a t. ... •S e p te m b e r d e l iv e r y --------------------- . . D e c e m b e r d e l iv e r y -------------------- . . . M a y d e l iv e r y . --------------------------d a il y c l o s in g p r ic e s OF T ues. 79 78 72 72% 64 % 64 % --CORN FU T U R E S S a t. S e p t e m b e r d e l iv e r y --------------------- . . . D e c e m b e r d e l iv e r y --------------------M a y d e l iv e r y ------------------------------ . . . M on. 79 72 64 % 04 % 54% M on. T ues. 6 4 ‘Vs 53 % 54 % 63 % 53 Vs. 55 W ed . T h u rs . F r i. 77 V i 7 7 Vs 77 A 7 2 Vs 72 Vs 73 Vs 64 % 64 A 64 Ys ---I N C H IC A G O . W ed. T h u rs. F r i. 64 % 54 Vs 55 % 64 Vs 53 % 54 % 65 54 % 55 Vs Oats were stronger early but afterwards declined. At the outset some anxiety was shown to cover short sales, it being argued that the bear side had become overcrowded. Later the market became unsettled and slightly weaker as receipts at primary points were heavy, while the official monthly re port was considered favorable. It showed only a small loss in condition and indicated one of the biggest crops on record— 1,000,000,000 bushels. Indeed this has never been equaled, the largest previous total being 987,842,000 bushels in 1902. To-day there was greater buoyancy. Offerings were lighter, while demand was fair. It was clear that shorts had become nervous, partly because of the strength in corn. D A I L Y C L O S IN G P R I C E S O F O A T S I N N o. 2 w h ite . . W b i t e u. c lip p e d . 3 4 t o 36 l b s ___ D A IL Y NEW YORK. S a t. M on. T ues. W ed. T h u rs . F r i. 5 0 Vi 5 0 Vi 49 A 49 % 49% 49 % 5 2 -5 3 C L O S IN G 5 2 -5 3 P R IC E S 5 2 -5 3 5 2 -5 3 5 2 -5 3 5 2 -5 3 O F O A T S F U T U R E S I N C H IC A G O . Sa S e p t e m b e r d e l i v e r y ______ _ ------------ 3 0 % D e c e m b e r d e l i v e r y ____ . . . ............. 37 M ay d e l i v e r y . ______________ ................. 3 9 % M on. T ues. 36% 3 6 Vs 39 36% 36% 39 W ed. T h u rs . F r i. 37 37% 39% 37 37 39% 37 % 37 % SO Vs The following are closing quotations: FLO UR. W in te r , lo w g r a d e s ____ $4 50 @ $4 8 0 K a n s a s s tr a ig h t s s a c k s -S 5 0 0 ® 15 4 0 “ ____ 4 6 5 ® 4 00 W in te r p a t e n t s ,, n e w . . 5 5 0 ® 5 00 K a n s a s c le a r s W in te r s tr a ig h t s , n e w . 5 0 0 ® 5 35 C ity p a t e n t s ____________ 6 5 0 ® 6 7 5 W in te r c le a r , n e w ______ 4 7 5 ® 5 0 0 R y e flo u r , b b l s _________ 4 3 5 ® 4 8 0 S p r in g p a t e n t ___________ 6 0 0 ® (52 5G ra h a m flo u r ___________4 1 5 ® 4 4 0 S p r in g s t r a i g h t s ................. 5 0 0 ® 550C orn m e a l, k iln d r ie d ___ ___@ 3 7 5 S p r in g c l e a r s ___________ 5 0 0 ® 525 G R A IN . C e n ts . W h e a t , p e r b u s h .— C e n ts . C o rn , p er b u s h .— 77 % e le v . N . D u lu t h . N o . 1 _____ 135 H 77% e le v . N . D u lu t h . N o . 2 _________ 1.33% 79 e l. v . R e d w in t e r . N o . 2 n e w . f .o . b . 110% H a rd " “ . new 1 1 1 % R y e , per b u s h .— N o . 2 W e s te r n , n e w ___,I.o . b. 7 6 O a ts , p e r b u s h .— N a t w h ite , 26 to 28 l b s . . . 4 7 ® 4 7 % S t a t e a n d J e r s e y _______ N o m in a l B a r le y — M a lt i n g _________ N o m in a l 48 M ix e d . 2 6 t o 32 l b s . _____ W h . c ll p ’d 3 4 t: 3 6 lb s . . . 5 2 ® 53 F e e d in g , c . 1. f. N Y . . 53 @ 55 F or o t h e r t a b le s u s u a lly g iv e n h e r e , s e e p a g e 3 9 1 . AGRICULTURAL DEPARTMENT’S REPORT ON CEREAL CROPS, ETC., TO AUG. 1.—The Agricultural Department issued on the 9th inst. its report on the cereal crops for the month of July as follows: T h e C rop R e p o r t in g B o a r d o f t h e B u r e a u o f S t a t i s t i c s o f t h e U n te d S t a t e s D e p a r t m e n t o f A g r ic u ltu r e e s t i m a t e s , fr o m t h e r e p o r ts o f th e c o r r e s p o n d e n t s a n d a g e n t s o f t h e b u r e a u , a s fo llo w s : T h e a v e r a g e c o n d itio n o f c o r n o n A u g . 1 w a s 8 4 .4 , a s c o m p a r e d w ith 8 9 .3 l a s t m o n th , 8 2 .5 o n A u g . 1 1 9 0 8 a n d 8 2 .6 t h e a v e r a g e o n A u g . 1 fo r t h e p a s t 10 y e a r s . . P r e lim in a r y r e tu r n s in d ic a t e a w in t e r - w h e a t y ie ld o f a b o u t 1 5 .5 b u s h e ls p e r a c r e , o r a t o t a l o f a b o u t 1 3 2 ,9 2 0 ,0 0 0 b u s h e ls , a s c o m p a r e d w it h 1 4 .4 a n d 4 3 7 ,9 0 8 ,0 0 0 b u s h e ls r e s p e c t iv e ly , a s f in a lly e s t im a t e d l a s t y e a r . T h e a v e r a g e q u a l it y o f t h e c r o p Is 9 0 .3 , a g a in s t 9 0 .1 la s t y e a r . T h e a v e r a g e c o n d itio n o f s p r in g w h e a t o n A u g . 1 w a s 9 1 .6 , a s c o m p a r e d w it h 9 2 .7 l a s t m o n t h , 8 0 .7 o n A u g . 1 1 9 0 8 a n d 8 1 .1 t h e 1 0 -y e a r a v e r a g e o n A u g . 1. T h e a v e r a g e c o n d it io n o f t h e o a t s cro p o n A u g . 1 w a s 8 5 .5 , a s c o m p a r e d w ith 8 8 .3 la s t m o n t h , 7 6 .8 o n A u g . 1 19 0 8 a n d 8 3 .1 t h e 1 0 - y c a r a v e r a g e o n A u g . 1. T h e p r o p o r tio n o f la s t y e a r ’s o a t s cro p In f a r m e r s ’ h a n d s o n A u g . 1 w a s a b o u t 3 .3 % , o r 2 0 ,3 2 3 ,0 0 0 b u s h e ls , a s c o m p a r e d w it h 5% ( 3 8 ,0 0 0 ,0 0 0 b u s h e ls ) o f th e 1 9 0 7 c r o p o n h a n d A u g . 1 19 0 8 a n d 6 .3 % (5 3 ,0 0 0 V '0 0 b u s h e ls ) t h e a v e r a g e p r o p o r tio n o n h a n d fo r th e p a s t 10 y e a r s o n A u g . 1. N e w Y o r k , F r i d a y N i g h t , A u g u s t 13 1909. With the exception of leading jobbers, who have enjoyed quite an active week, trade in textiles generally has been rather quiet. In the primary market for cotton goods mills have continued very firm in demanding higher prices for goods to be made from new-crop cotton; in some quarters a little more interest has been shown in future deliveries, but buyers, as a rule, have not been disposed to operate freely at the higher levels insisted upon by first hands. Transactions, therefore, have been on a moderate scale and mostly for spot or near-by delivery. Some selling agents have named prices at which they are willing to book forward business; many others, however, apparently fearing that advances will tencl to curtail distribution, question the wisdom of raising prices at this time and are waiting for the demand to broaden. In addition to the higher cost of raw material, mills may sooner or later be confronted with increased labor costs; reports from New Bedford, Mass., state that the Textile Council has started a movement looking to a restoration of the cut of 10 per cent in the wages of cotton-mill operatives, made some time ago; needless to say, any advance in wages would have an im portant influence on the primary situation. Jobbing houses have had a fairly brisk trade in various lines of domestic cottons, linens, knit goods and especially ready-towear goods; many retail buyers have visited the local market and operated quite freely on lines available for quick and near-by shipment. The special sales, including a sub stantial offering of woolen dress goods by a prominent jobbing firm at attractive prices, were well patronized. Requests for prompt deliveries have continued a significant feature. Advices from other jobbing centers also, par ticularly in the West, report an improved demand. Export trade generally has remained quiet, and business in both men’s wear lines and dress goods has been rather dull. DOMESTIC COTTON GOODS.—The exports of cotton goods from this port for the week ending Aug. 7 were 13,449 packages, valued at $1,031,382, their destination being to the points specified in the table below: --------1 9 0 9 -------- X e w Y o rk to A u g . 7— W eek. 129 G r e a t B r i t a i n ___________________ _________ 8 O th e r E u r o p e ______________ -- _________ C h i n a . . __________________________________ 7 ,2 3 6 1 I n d ia _________ ___________________ _________ A r a b ia _____ . . _____________ . _____ 2 ,5 4 6 A fr ic a . ___ _________________________ 4 9 7 W e s t I n d i e s . _____ ____ — _________ 1 ,2 5 8 22 M e x ic o . . _______ ______________ C e n tr a l A m e r ic a _________________ _________ 4 5 2 723 S o u t h A m e r ic a ____ ____________ _________ O th e r c o u n t r ie s _____________ — _________ 5 7 7 T o ta l _____________ _______ _______ 1 3 ,4 4 9 S in c e J a n . 1. --------1 9 0 8 — W eek. - S in c e J a n . 1. 931 7 03 1 2 8 ,8 7 3 1 0 ,7 5 7 1 9 ,7 6 6 9 ,6 4 6 2 4 ,5 5 5 1 ,0 3 6 8 ,8 9 8 3 2 ,0 7 7 1 1 ,2 7 4 75 634 53 678 312 169 488 687 1 6 ,2 0 5 6 ,0 6 1 1 9 ,2 9 2 5 ,5 5 6 1 4 ,5 7 8 1 ,1 0 0 9 ,8 0 1 2 4 ,3 8 3 1 2 ,1 0 3 2 4 8 ,5 1 6 1 ,9 4 3 1 1 0 .2 5 1 1 I The value of these New York exports since Jan. 1 has been $13,808,391 in 1909, against $7,112,688 in 1908. A moderate business has been done in bleached goods in some quarters, but most sellers seem inclined to await developments. The advanced price on staple prints took effect early in the week and since then retailers have been buying in fair quantities,but jobbers have purchased only moderately. Fine cottons have displayed a firmer tone, especially for spring delivery. During the week jobbers have experienced a better demand for wash fabrics, cotton dress goods, sheetings, flannelettes, &c., for near-byand fall delivery. There has not been much demand for heavy domestics for immediate shipment, but a good inquiry has The visible supply of grain, comprising the stocks in come forward for fall deliveries. Certain lines of staple granary at principal points of accumulation at lake and ginghams are well under order; other lines, however, have continued rather slow of sales. Cutters have taken cotton seaboard ports Aug. 7 1909, was as follows: linings somewhat more freely. Print cloths generally have A M E R IC A N G R A IN ST O C K S, Wheat. Rarity, been very firmly held and in fair demand; prices of both Corn, Oats, Rye, bush. bush. bush. bush. bush. regulars and standard wide goods have shown no quotable 3 5 8,000 5 1 ,000 27.000 2 7 6,000 9 ,0 0 0 New Y o r k ...................... 1,000 184.000 6 ,000 change. 100,000 42.000 1,000 WOOLEN GOODS.—Trade in men’s wear lines during 440,000 111.000 6 1 .000 3 8 ,0 0 0 B altim ore........................ . 78,000 8 5 .000 66,000 N ew O rleans ________ the past week has. been comparatively quiet, as clothing 186,000 35 .0 0 0 manufacturers have practically completed their initial 118,000 2(16,000 5 7 .000 515,000 7 .0 0 0 Buffalo ............................. . 2 5 .000 1,000 26,000 T o led o ............................. .. 470,000 11,000 buying for spring; it is quite generally admitted that there 107.000 1,000 21,000 183,000 3 .0 0 0 D e t r o it ................. ........... . . has been considerable over-buying and that some portion of 8 7 3.000 2 ,000 1,2 5 1 ,0 0 0 .. 608,000 3 0 .0 0 0 1,000 24.000 the business booked is likely to be canceled, but the orders 9 0 ,000 1,000 M ilw au k ee................. .. . 5 3 .000 113.000 19.000 2 ,000 96 ,0 0 0 D u lu t h ............................. . that will, in all probability, stand reach a satisfactory 2 7 .000 2 4 .000 102.000 1,000 M in n eap olis................... . . 1,5 6 5 ,0 0 0 volume in the aggregate. Cancellations so far received 3 8 .000 15,000 6 3 2,000 9 1 .0 0 0 1,000 S t . L ouis ........................ . 132.000 . 1 ,157.000 9 4 .0 0 0 appear to be mostly on light-weights. In the primary dress 5 ,000 . 4 ,000 8 5 .000 goods market trade has also been comparatively dull. The 6 7 .000 .352 000 15.000 38 2 .0 0 0 3 0 0,000 13,000 9 3 8,000 On L a k e s ....................- - . initial buying for spring is about over and most leading 6 3 .000 2 4 .0 0 0 2 8 3,000 51,000 O n Canal and R iv e r .. _ producers of light-weight fabrics are well under order. 2 ,3 6 6 ,0 0 0 2 ,8 0 3 ,0 0 0 188,000 124,000 T otal Alls:. 7 1909. . 7 ,1 9 5 ,0 0 0 Moderate repeat orders have come forward for domestic 2 ,7 0 6 ,0 0 0 273,000 3 ,8 0 0 ,0 0 0 9 3 ,0 0 0 Total July 31 1909.. . 7 ,6 0 9 .0 0 0 dress fabrics and also for broadcloths and piece-dyed fancy C A N A D IA N G R A IN ST O C K S. Corn, Rarlcy, worsteds. Rye, Wheat, Oats, bush. bush. bttsh. bush. bush. FOREIGN DRY GOODS.— Imported lines of woolen 5 9 ,000 74,000 157,000 9 6 ,000 M ontreal........................ . . and worsted goods have received a fair amount of attention, i l l 000 F ort W illiam 3 7 7,000 but the orders placed during the week have been rather 272 000 disappointing in the aggregate; buyers have apparently 74 ,0 0 0 been disposed to operate cautiously. The linen situation 5 9 ,0 0 0 157,000 T otal A u k . 7 1909 . 1 ,156,000 8 1 ,000 112,000 2 6 2,000 T otal Ju ly 31 1909. . 1,622,000 has shown no new feature except that prices on numerous SU M M A R Y , Corn. Rarley, lines are, if anything, firmer; there has been no falling Oats, Rye, Wheat. bush. off in demand. bush. bush. Burlaps have ruled strong and active,with a bush. bush. 188,000 A m erican . 2 ,3 6 6 ,0 0 0 2 ,8 0 3 ,0 0 0 . 8,195,001) 124,000 large business reported done, especially for foreign account; Canadian .. 7 4 ,000 5 9 ,000 157,000 . 1,156,000 10 £ 2 ounce and light-weights have advanced sharply and 2 6 2,000 124,000 T otal A u r . 7 1909. . 9 ,3 5 1 .0 0 0 2 ,4 2 5 ,0 0 0 2 ,9 6 0 ,0 0 0 are now quoted at 4.85c. and 3.80c.. respectively, with 3 8 5 ,0 0 0 T otal Ju ly 31 1909 . 9 ,2 3 1 ,0 0 0 2 ,7 8 7 ,0 0 0 4 ,0 6 2 ,0 0 0 0 3 ,000 indications pointing to a still higher level. 5 7 0,000 1 ,846,000 138,000 T otal A u k - S 1908. .1 8 .9 9 8 ,0 0 0 1 ,674,000 News Items. A la b a m a .— S t a t e S en ate A d o p ts P ro p o se d In com e T a x A m e n d m e n t to U . S . C o n s t i t u t i o n . —The proposed amendment to the Federal Constitution authorizing Congress to levy an income tax without apportionment among the States according to their population, was unanimously voted by the Senate of this State on Aug. 10. The House on Aug. 2 also voted unanimously (V. 89, p. 361) in favor of this amendment. In the “Chronicle” of July 17 (page 177) the full text of this resolution is given. Connecticut.— A c t i o n o n P r o p o s e d I n c o m e T a x A m e n d m e n t to U . S . C o n s t i t u t i o n P o s t p o n e d b y S e n a t e . —The State Senate Committee on U. S. Relations reported on Aug. 12 that they were of the unanimous opinion that the proposed amendment to the Federal Constitution providing for the imposing of an income tax by Congress (V. 89, p. 177), without appor tionment among the States according to population, should be postponed to the next Legislature, which meets in 1911. The Senate accepted this report by a unanimous vote. It was then referred to the House, and that body concurred with the Senate. Georgia.— L e g i s l a t u r e A d j o u r n s . —The Legislature of the State of Georgia ended its 1909 session on Aug. 11. Hennepin County (P. O. Minneapolis), Minn.— S u i t B r o u g h t to T e s t V a l i d i t y of C e r t a i n B o n d s . — Application was recently made to the District Court for an injunction to restrain this county from issuing the 8100,000 road and bridge bonds awarded as 4s on June 21 to the First National Bank of Minneapolis. We are informed that this is a friendly suit brought to determine the constitutionality of the Act authorizing these bonds, as the point has never been decided in regard to county road bond issues in that State. Our informant further advises us that the case will probably reach the Supreme Court in October. Michigan.— A m e n d m e n t to S t a t e C o n s t i t u t i o n . —The Legis lature of 1909 adopted a resolution providing that on the first Monday in April 1910 the electors of this State shall vote on a proposed Constitutional amendment relating to the bonding power of counties. It is proposed to change Sec tion 12 of Article VIII. so as to allow counties having an assessed valuation of 85,000,000 or less to create debt up to 5% of this value. The Constitution now provides for a 3% limit for all counties irrespective of valuation. We give below Section 12 of Article VIII., the words in italics repre senting the part to be added if the amendment carries: S E C T IO N 12. N o c o u n t y s h a ll In c u r a n y I n d e b te d n e s s w h ic h s h a ll In c r e a s e Its t o t a l d e b t b e y o n d 3% o f Its a s s e s s e d v a l u a t i o n , except counties h a vin g a n assessed va luation o f $ 5 ,0 0 0 ,0 0 0 or less, w hich counties m ag increase Akron, Ohio.— B o n d O f f e r i n g . — Proposals will be received until 7:30 p. m. August 21 by W. A. Durand, Secretary Sinking Fund Trustees, for the following bonds, aggregating $161,162 : $ 3 5 ,0 0 0 4 % S c h o o l b o n d s . D a t e A p ril 1 1 9 0 9 . M a tu r it y A p ril 1 1 9 2 3 . 1 6 ,0 0 0 4 33% B r o a d w a y p a v in g b o n d s . D a te A u g . 1 1909. M a tu r ity $ 3 ,0 0 0 o n A u g u s t 1 In e a c h o f th e y e a r s 1 0 1 0 , 1 9 1 1 , 1 9 1 2 a n d 1913 a n d $ 4 ,0 0 0 in 1 9 1 4 . 2 1 0 0 4 3 3 % M a p le S t r e e t s e w e r b o n d s . D a t e A u g u s t 1 1 9 0 9 . M a tu r ity “ $ 7 0 0 o n A u g u s t 1 In e a c h o f t h e y e a r s 1 9 1 0 , 1911 a n d 1 9 1 2 . 1 7 0 0 4 33% W a s h in g to n S t r e e t s e w e r b o n d s . D a te A u g. 1 1009. M a tu r it y $ 5 0 0 o n A u g u s t 1 In e a c h o f t h e y e a r s 1 9 1 0 a n d 1911 a n d $ 7 0 0 In 1 9 1 2 . 12 6 7 0 4 33% A llen S t r e e t p a v in g b o n d s . D a te A u g . 1 1 9 0 9 . M a tu r it y o n A u g u s t 1 a s fo llo w s : $ 2 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 0 , 1 9 1 1 , 1912 a n d 19 1 3 a n d $ 4 ,6 7 0 In 1 9 1 4 . 1 7 ,1 0 0 4 3 3 % W a s h in g to n S t r e e t p a v in g b o n d s . D a te A u g . 1 1 9 0 9 . M a tu r ity $ 4 ,0 0 0 o n A u g u s t 1 In e a c h o f th e y e a r s 1 9 1 0 , 1 9 1 1 , 1912 a n d 1913 a n d $ 1 ,1 0 0 In 1 9 1 4 . 1 ,0 0 0 4 33% C a se A v e . s e w e r b o n d s . D a te A u g . 1 1 9 0 9 . M a tu r it y $ 3 0 0 o n A u g u s t 1 In e a c h o f t h e y e a r s 1 9 1 0 , 1911 a n d $ 4 0 0 in 1912, 1 7 ,3 0 0 4 33% p u b lic - im p r o v e m e n t b o n d s . D a te A ug. 1 1909. M a t u r it y o n A u g u s t 1 a s fo llo w s : $ 4 ,0 0 0 in e a c h o f t h e y e a r s 1 9 1 2 , 1 9 1 3 , 1914 a n d 1 9 1 5 a n d $ 1 ,3 0 0 In 1 9 1 6 . 4 ,3 5 0 4 33% K e n m o r e B o u le v a r d g r a d in g b o n d s . D a te A u g . 1 1 9 0 9 . M a tu r it y o n A u g u s t t a s f o llo w s : $ 2 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 0 a n d 1911 a n d $ 3 5 0 In 1 9 1 2 . 1 ,6 0 0 4 33% F a lo r S t r e e t e x t e n s io n b o n d s . D a te .J u ly 1 1 9 0 9 . M a tu r it y $ 8 0 0 o n J u ly 1 In e a c h o f t h e y e a r s 191 3 a n d 1 9 1 4 . 1 6 ,4 0 0 4 33% ( c i t y ’s p o r tio n ) im p r o v e m e n t b o n d s . D a te A u g . 1 1 9 0 9 . .M a tu rity o n A u g u s t l a s fo llo w s : $ 4 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 2 , 1913 a n d 1914 a n d $ 1 ,4 0 0 111 1 9 1 5 . 8 ,5 0 0 4 33% fir e -e n g n e b o n d s . D a te A ug. 1 1909. M a tu r it y o n A u g u s t 1 a s fo llo w s : $ 3 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 2 a n d 1 9 1 3 a n d $ 2 ,5 0 0 In 1 9 1 4 . 1 8 ,2 4 0 4 33% S u m er S t r e e t p a v in g b o n d s . D a t e A u g . 1 1 9 0 9 . M a tu r ity o n A u g u s t 1 a s fo llo w s : $ 3 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 0 a n d 1 9 1 1 , $ 4 ,0 0 0 in e a c h o f t h e y e a r s 1912 a n d 191 3 a n d $ 4 ,2 4 0 In 1 0 1 4 . 4 ,3 6 2 4 33% S c h e ll A v e . p a v in g b o n d s . D a te A u g . 1 1 9 0 9 . M a tu r it y o u A u g u s t t a s fo llo w s : $ 1 ,0 0 0 In e a c h o f t h e y e a r s 1 9 1 0 , 1 9 1 1 , 191 2 a n d 1913 a n d $ 3 6 2 In 1 9 1 4 . 4 ,8 4 0 4 33% C a se A v e . p a v in g b o n d s . D a te A u g. 1 1 9 09. M a tu r it y o n A u g u s t 1 a s fo llo w s : $ 1 ,0 0 0 In e a c h o f th e y e a r s 1 9 1 0 , 1 9 1 1 , 1 9 1 2 a n d 1913 a n d $ 8 4 0 In 1 9 1 4 . I n t e r e s t s e m i- a n n u a lly a n d Is p a y a b le o n th e fir s t- m e n tio n e d Issu e In A k ro n a n d o n t h e r e m a in in g iss u e s a t t h e N a t io n a l P a r k B a n k In N e w Y o r k C it y . B id t o b e m a d e o n a b la n k fo r m fu r n is h e d b y th e t r u s t e e s . C e r tille d c h e c k o n a b a n k In A k ro n to r 5% o f b o n d s b id fo r, p a y a b le t o t h e S in k in g F u n d T r u s t e e s , is r e q u ir e d . T h e b o n d s w ill h e d e liv e r e d b y A u g u s t 2 6 1 9 0 9 . T h e s e a r e n o t n e w Issu es b u t b o n d s h e ld b y t h e S in k in g F u n d T r u s t e e s a s a n I n v e s tm e n t . Alliance, Stark County, Ohio.— B o n d s A u t h o r i z e d . — Ordi nances have been passed providing for the following issues of coupon street-improvement bonds: $ 3 ,0 0 0 4 33% S o u t h M a h o n in g A v e . ( c it y 's p o r tio n ) b o n d s . M a tu r ity O ct. 1 1917. , 5 ,5 0 0 5% W e s t S u m m it S t r e e t (a s s e s s m e n t) b o n d s . M a tu r ity o n e lifth y e a r ly o n O c t. I fr o m 19 1 0 to 1914 I n c lu s iv e . A u th o r ity , S e c tio n 2835, R e v is e d S t a t u t e s . D e n o m in a tio n $o00. D a t e O c t. I 1 9 0 9 . I n t e r e s t s e m i-a n n u a l. Ames, Story County, Iow a.— B o n d s O f f e r e d b y B a n k e r s .— The Harris Trust & Savings Bank of Chicago are offering for sale an issue of $25,000 4 funding bonds of this city. D e n o m in a tio n $ 5 0 0 . D a te A u g. 1 1909. I n t e r e s t s e m i-a n n u a lly a t C ity T r e a s u r e r ’s o f fic e . M a tu r it y A u g . I 1 9 2 9 , s u b j e c t t o c a ll a f te r A u g . l 1919. B o n d s are ta x -e x e m p t. Anna Independent School District (P. O. Anna), Collin County, Tex.— B o n d O f f e r i n g . — Some additional details are County, N. Y .— V i l l a g e P a r t l y at hand relative to the offering of the $14,000 5% coupon D e s t r o y e d b y C o n f l a g r a t i o n . — Practically all of the business school-building bonds mentioned in V. 89, p. 298. Proposals section of this village was destroyed Tuesday night (Aug. 10) for these bonds will be received until 12 m. Aug. 25 by J. B. by a fire which is said to have been caused by crossed feed Lair, President School Board. wires in the electric-light station. The loss is estimated A u t h o r it y , S e c tio n 154 e t s e q ., C h a p te r 1 2 4 , G e n e r a l L a w s o f t h e L e g is la tu r e o f 1 9 0 5 . D e n o m in a tio n $ 1 ,0 0 0 . D a te k e p t. I 1909. In terest at upward of 81,000,000. a n n u a lly a t th e B a n k o f N e w Y o r k . N . B . A . , a t t h e S t a t e 1 r e a su r e r s o ffic e Valdez, Alaska.— B o n d O f f e r i n g . —This town is offering o r a t t h e C o n tin e n ta l S t a t e B a n k in A n n a . M a tu r it y S e p t . 1 1 9 4 9 . C erd c h e c k fo r 1 0 % , p a y a b le to th e P r e s id e n t S c h o o l B o a r d , is r e q u ir e d . for sale 815,000 6% municipal improvement bonds authorized tTille o t a l d e b t , t h is is s u e . A s s e s s e d v a lu a t io n , $ 4 8 ^ ,o U ). by an Act of Congress approved February 6 1909. Anson, Jones County, Texas.— B o n d S a l e . —The 828,000 D e n o m in a tio n $500. In ter e st s e m i-a n n u a l. M a tu r it y ten y e a r s. 6% 20-40-year (optional) water-works bonds, registered F o r p a r tic u la r s a d d r e s s E . 13. W h e a t , T r e a s u r e r . on July 19 (V .89,p. 208), have been purchased by the State Board of Education on a 5 ^ % basis and accrued interest. B o n d C a lls a n d R e d e m p tio n s . Archer County (P. O. Archer City), T e x . — D e s c r i p t i o n of Denver, Colo.— B o n d C a l l . —The following bonds have B o n d s . — We are informed that the $20,000 4% jail bonds been called for payment August 3 1: voted on June 5 (V. 88, p. 1684) are dated June 5 1909 and STO R M S E W E R H O N D S. mature April 10 1949, being subject to call April 10 1914. Sub. D I s t . N o . 2 o l t h e C a p ito l H ill S to r m S e w e r D ls t. N o . 1. B o n d N o . 6. Denomination $1,000. Interest is payable annually in April. th e ir total debt to 5% o f their assessed v a lu a tio n . Monticello, Sullivan S u b . D I s t . N o . 0 o f t h e C a p ito l H ill S to r m S e w e r D Ist. N o . 1. B o n d N o . 9 S A N IT A R Y S E W E R B O N D S. E a s t S id e S a n it a r y S e w e r D Ist. N o . 1. B o n d s N o s . 59 t o 0 1 , In c lu siv e . H a r m a n S p e c ia l S a n it a r y S e w e r D I s t. N o . 1. Bond N o. 22. H ig h la n d s S p e c ia l S a n it a r y S e w e r D Ist. N o . 9 . B on d N o . 8. IM P R O V E M E N T B O N D S . C a p ito l H ill I m p r o v e m e n t D I s t. N o . 4 . B on d N o. 106. E a s t C o lfa x A v e . I m p r o v e m e n t D I s t. N o . 1. Bond N o. 54. E a s t D e n v e r I m p r o v e m e n t D Ist. N o . 4 . B o n d s N o s . 23 t o 3 0 , In c lu siv e . N o r t h S id e I m p r o v e m e n t D I s t. N o . 2 . B on d N o . 15. N o r t h S id e I m p r o v e m e n t D I s t . N o . 4 . B on d N o . 9. P A V IN G B O N D S . A llo y P a v in g D is tr ic t N o . 2 . Bond N o. 24. A llo y P a v in g D is tr ic t N o . 5 . B o n d N o . 17. B r o a d w a y P a v in g D Ist. N o . 3 . B o n d s N o s . 2 2 t o 2 5 , I n c lu siv e . L in c o ln S t . P a v in g D Ist. N o . 1. B on d N o . 2 1 .' PA R K BO N D S. H ig h la n d s P a r k D I s t. B o n d N o . 2 5 1 . , , U p o n t h e r e q u e s t o f t h e h o ld e r s o f a n y o f t h e a b o v e b o n d s r e c e iv e d 10 d a y s b e fo r e t h e e x p ir a t io n o f t h is c a ll, t h e C it y T r e a s u r e r w ill a r r a n g e for t h e ir p a y m e n t a t t h e M e r c a n tile T r u s t C o m p a n y , N e w Y o r k C it y , b u t n o t o t h e r w is e . Ashland, Ohio.— B o n d O f f e r i n g . — Proposals will be received until 12 m. Aug. 28 by Edgar Koehl, Village Clerk, for $4,600 5% coupon Chestnut Street improvement bonds. A u th o r ity , S e c tio n 2 8 3 5 , R e v is e d S t a t u t e s , d e n o m in a t io n $ 2 3 0 . D a te A ug. 1 1909. I n t e r e s t s e m i- a n n u a lly a t t h e I 'lr s t N a tio n a l B a n k o f A s h la n d . M a tu r ity $230 each s ix months fr o m M a r ch 1 1 9 1 0 t o S e p t , t 19 1 9 in c lu s iv e . B o n d s a r e t a x - e x e m p t a n d w ill be d e liv e r e d w it h in 10 d a y s fro m t h e t im e o f a w a r d . C e r tllle d c h e c k fo r $ 2 3 0 , p a y a b le t o t h e V illa g e C lerk , Is r e q u ir e d . P u r c h a s e r to p a y a c c r u e d I n te r e s t. Ashtabula County (P. O. Jefferson), Ohio.—Rond O f f e r will be received until l p. m. Aug. 16 by P. C. Remick, County Auditor, for $10,000 4 ' A % coupon bonds, to complete the improvement of the Ridge Road in Conneaut Township. i n g s . — Proposals A u t h o r it y , S e c tio n 4 6 7 0 -1 4 to 2 0 , R e v is e d S t a t u t e s . D e n o m in a tio n $1 0 0 0 . D a te A u g . 1 1909. i n t e r e s t s e m i-a n n u a lly a t t h e C o u n ty t r e a s u r y in J e lfe r so n . M a tu r ity $ 1 ,0 0 0 y e a r ly o n A u g . 1 fr o m 1 9 1 0 to 1 9 1 9 I n c lu siv e . C e r tifie d c h e c k fo r $ 5 0 0 Is r e q u ir e d . Hamilton County (P. O. Cincinnati), Ohio.— B o n d C a l l .— In addition to the above, proposals will also be received Payment will be made on Sept. I at the County Treasurer’s until 1 p. ni. Aug. 26 by the County Auditor for $85,000 office of $27,000 4% Cincinnati and Harrison Turnpike 4J/j% coupon bonds to improve the East and West Center bonds numbered from 1 to 54 inclusive. Road running through Windsor and Orwell townships. D e n o m in a tio n $ 5 0 0 . D a t e A u g u s t 31 1 8 8 9 . I n t e r e s t s e in t - a n n u a l. These bonds were at first advertised to be sold Aug. 2, but M a tu r it y S e p t . 1 1 9 1 9 , s u b j e c t t o c a ll S e p t . I 1 9 0 9 . the offering was subsequently postponed. See V. 89, p. 299. B o n d P r o p o sa ls an d N eg o tia tio n s this week A u th o r ity S e c tio n 4 6 7 0 -1 4 to 2 0 , R e v is e d S t a t u t e s . D e n o m in a tio n $ 5 0 0 . D a te S e p t . I 1 9 0 9 . I n t e r e s t s e m i-a n n u a lly a t th e C o u n ty 'tr e a s u r y In J e flc r so n . M a tu r ity $ 3 ,5 0 0 y e a r ly o n S e p t . I fr o m 19 1 0 to 1919 I n c lu s iv e . C e r tllle d c h e c k fo r $ 5 0 0 Is r e q u ir e d . ;\ave as follows i Official circular states there is no litigation pending or Abilene, Texas.—B o n d s V o t e d . — A $50,000 bond issue for public improvements was recently voted, according to local threatened affecting the above issues of bonds; also that the county has never defaulted in the payment of any obligation. papers. Bangor, Me.— T e m p o r a r y L o a n . — A temporary loan of Clarksburg, Harrison County, W. Va.— B o n d E l e c t i o n .— 50.000 has been negotiated with the Eastern Trust & Bank- An election will be held Sept. 13 to vote on the question of ng Co. at 3.90% discount. issuing $170,000 water, $51,600 sewer and $48,400 refunding bonds. Maturity 1939, subject to call after 1918. Bedford, Cuyahoga County, Ohio.— B o n d O f f e r i n g . — Pro posals will be received until 12 m. Aug. 23 by C. C. Lowe, Clermont County (P. O. Batavia), Ohio.— B o n d O f f e r i n g .— Village Clerk, for $4,230 4)^% coupon street-improvement Proposals will be received until 12 m. Aug. 16 by Charles L. Ireton, County Auditor, for $23,000 road bonds. bonds. D e n o m in a tio n s 10 b o n d s o f $ 2 7 3 54 e a c h , 4 b o n d s o f $ 3 0 0 e a c h a n d o n e b o n d o f $2 9 4 6 0 . D a t e A u g . 10 1 9 0 9 . I n t e r e s t s e m i- a n n u a lly a t t h e C le v e la n d T r u s t C o. In B e d f o r d . M a tu r it y t e n b o n d s d u e fr o m o n e t o t e n y e a r s fr o m d a t e a n d liv e d u e fr o m 1911 t o 1 9 1 5 I n c lu s iv e . C e r tifie d c h e c k fo r 5% o f th e g r o ss a m o u n t b id , p a y a b le t o t h e v illa g e , Is r e q u ir e d . B onded d e b t , n o t In c lu d in g t h is Issu e. $ 1 0 ,7 0 0 . A s s e s s e d v a l u a t io n 1 9 0 8 , $ 5 9 1 ,5 9 0 - Bijou Irrigation District, Morgan County, Col.— B o n d s satisfactory bids were received on Aug. 7 for the $50,000 0% series “A” bonds described in V. 89, p. 299. Billings, Yellowstone County, Mont.—B o n d O f f e r i n g . — The City Council will sell at public auction at 10 a. m. Sept. 1 the following issues of coupon bonds at not exceeding 6% interest: .$36,000 for funding purposes, $15,000 for park im provements, $19000 for a lire station and $10,000 for a market place. N o t S o l d . — No A u th o r ity , S e c tio n s 3 4 5 4 t o 3 160 I n c lu siv e a n d 3 2 5 9 , S u b d iv is io n 0 4 , o f t h e R e v is e d C o d e o f 1 9 0 7 ; a ls o v o t e o f 8 8 9 “ f o r ” t o 2 3 7 “ a g a i n s t ” a t e le c t io n h e ld A p ril 5 1 9 0 9 . D e n o m in a tio n $ 1 , 0 0 0 . D a te N o v . 1 1909. In terest s e m i-a n n u a l. M a tu r ity 2 0 y e a r s , s u b j e c t t o c a ll a f te r 10 y e a r s . C ertified c h e c k (or c a sh ) fo r $ 4 ,0 0 0 o n a b a n k In B illin g s Is r e q u ir e d . P u r c h a s e r to fu r n is h lit h o g r a p h e d b o n d s a t h is o w n e x p e n s e . O ffic ia l c ir c u la r s t a t e s t h a t t h e c it y h a s n e v e r d e f a u lt e d In p a y m e n t o f I n te r e s t a n d t h a t th e r e is n o c o n t r o v e r s y a f fe c t in g t h e Issu e p e n d i n g or t h r e a t e n e d . A u t h o r i t y S e c t io n s 4 8 7 5 -6 a n d 4 8 7 5 - 7 , R e v is e d S t a t u t e s . D e n o m in a tio n $ 1 ,0 0 0 . D a t e J u ly 1 1 9 0 9 . I n t e r e s t a n n u a lly In B a t a v i a . ' B o n d s a r e ta x -e x e m p t. M a tu r ity $ 5 ,0 0 0 o n J u ly 1 In e a c h o f t h e y e a r s 1 9 2 6 , 192 7 a n d 1 9 2 8 a n d $ 8 ,0 0 0 J u ly 1 1 9 2 9 . C e r tifie d c h e c k fo r $ 5 0 0 , p a y a b le to t h e C o u n ty T r e a s u r e r , Is r e q u ir e d . P u r c h a s e r to fu r n is h b la n k b o n d s. Cleveland, Bolivar County, Miss.— B o n d s V o t e d . — Mem phis papers state that an election held July 31 on the question of issuing $15,000 water-works-system bonds carried by an overwhelming majority. Cohoes, Albany County, N. Y.— B o n d O f f e r i n g . — An issue of $75,000 4% registered water supply improvement bonds will be sold at public auction at 12 m. Aug. 26. A u t h o r it y , C h a p te r 4 7 1 , L a w s o f 1 9 0 4 . D e n o m in a tio n $ 1 ,0 0 0 . D a te A u g . 31 1 9 0 9 . I n t e r e s t J a n . 1 a n d J u ly 1 a t t h e U n it e d S t a t e s M o r tg a g e & T r u s t C o . In N e w Y o r k . M a tu r ity o n N o v . 1 a s fo llo w s : $ 5 ,0 0 0 in e a c h o f t h e y e a r s 1 9 1 5 , 1 9 1 7 a n d 1 9 1 9 a n d 5 1 0 ,0 0 0 in e a c h o f t h e y e a r s 1 9 2 1 , 1 9 2 2 , 1 9 2 4 , 1 9 2 5 , 1926 a n d 1 9 2 7 . O ffic ia l c ir c u la r s t a t e s t h a t t h e r e Is n o lit ig a t i o n p e n d in g o r t h r e a t e n e d a f fe c t in g t h e s e b o n d s , a n d t h a t t h e t o w n h a s n e v e r d e f a u lt e d In t h e p a y m e n t o f a n y o f Its o b l ig a t io n s . R ic h a r d B o lt o n Is C it y C h a m b e r la in . Cookville Independent School District (P. O. Cookville), Titus County, Texas.—B o n d s R e g i s t e r e d . —The StateComptroller registered $10,000 5% 10-40-year (optional) bonds Bloomsburg School District (P. O. Bloomsburg), Colum" on August 6. bia County, Pa.— B o n d S a l e . —The $10,400 4 j/^% school Corona, Riverside County, Cal.— B o n d O f f e r i n g . — Pro building bonds offered on July 31 (V. 89, p. 299) were sold in small lots to local investors for a total premium of $173 25. posals will be received until 8 p . m . Aug. 24 for the following The bonds are part of an issue of $14,500, of which $1,200 5% gold bonds voted on May 18 (V. 88, p. 1511). ,0 0 0 s e w e r -c o n s t r u c tio n b o n d s . D e n o m in a tio n $ 7 5 0 . were sold at par and $2,900 exchanged for a like amount of $ 93 10 ,0 0 0 d r a in a g e b o n d s . D e n o m in a tio n $ 5 6 8 7 5 . old bonds. 1 4 ,5 0 0 s t r e e t -im p r o v e m e n t b o n d s . D e n o m in a tio n $ 3 6 2 5 0 . n n u a lly a t t h e C it y T r e a s u r e r ’s o f f i c e . Bradford, McKean County, Pa.— B o n d O f f e r i n g . — Pro M aDtua treit yA uo gn.e -1fo1r9t 0ie9t.h yIenatrelyr e sotns eAmui-a g . 1 fr o m 1 9 1 0 to 1 9 4 9 I n c lu s iv e . C e r t ifie d c h e c k fo r 1 % o f a m o u n t b id Is r e q u ir e d . E . J . G e n e r e u x Is C lerk posals will be received until 5 p. m. August 16 by E. C. Charlton, City Clerk, for the following issues of 4% registered o f t h e B o a r d o f T r u s t e e s . Curry County (P. O. Clovis), New Mex.— B o n d S a l e . — On or coupon bonds. Aug. 9 an issue of $59,000 5% bonds was awarded to the $ 1 5 ,0 0 0 im p r o v e m e n t b o n d s . D e n o m in a tio n $ 5 0 0 . D a t e J u ly 15 1 9 0 9 . Provident Savings Bank &, Trust Co. of Cincinnati at 106.75. M a tu r it y J a n . 1 1 9 3 0 , s u b j e c t t o c a ll a f t e r J a n . 1 1 9 1 5 . 7 0 .0 0 0 w a t e r b o n d s r e c e n t ly a u t h o r iz e d (V . 8 8 , p . 1 5 7 1 ) . D e n o m in a tio n $ 1 0 0 o r a n y m u lt ip le t h e r e o f . D a te J u ly 1 1 9 0 9 . M a tu r ity o n J u ly 1 a s fo llo w s : $ 2 5 ,0 0 0 In 1 9 1 4 , $ 6 ,5 0 0 y e a r ly fr o m 19 1 5 to 192 0 in c lu s iv e a n d $ 6 ,0 0 0 In 1 9 2 1 . B o n d s a r e a ll s u b j e c t t o ca ll a f te r J u ly 1 1 9 1 4 . I n t e r e s t s e m i- a n n u a lly a t t h e C it y T r e a s u r e r ’s o f fic e . C e r tifie d c h e c k f o r $ 5 0 0 Is r e q u ir e d . B o n d s a r c e x e m p t fr o m t a x e s . A c c r u e d I n te r e s t t o b e p a id b y p u r c h a s e r . D e n o m in a tio n t o s u it p u r c h a s e r . D a te J u ly 1 1 9 09. In ter e st s e m i a n n u a l. M a tu r ity t h ir t y y e a r s , s u b j e c t to c a ll a f t e r t w e n t y y e a r s . B r a in e r d . $ 5 4 ,0 0 0 r o a d - im p r o v e m e n t b o n d s . A u t h o r it y , S e c tio n 4 6 7 0 -1 4 t o 2 0 In e lu s iv e . B a t e s A n n o ta t e d S t a t u t e s . M a tu r it y o n A u g . 21 a s f o l lo w s : $ 2 ,0 0 0 in 1 9 1 0 , 8 8 ,0 0 0 in 1 9 1 1 , $ 1 1 ,0 0 0 in 1 9 1 2 , $13 5 0 0 In 19 1 3 a n d $ 1 9 ,5 0 0 In 1 9 1 4 . 1 0 3 ,0 0 0 d i t c h b o n d s . A u t h o r it y , S e c tio n 4 4 8 2 , B a t e s A n n o ta t e d S t a t u t e s . M a tu r ity o n A u g . 21 a s fo llo w s : $ 1 3 ,5 0 0 In 1 9 1 0 , $ 2 6 ,0 0 0 In 1 9 1 1 , $ 3 8 ,5 0 0 in 1 9 1 2 , $ 9 ,0 0 0 in 191 3 a n d $ 1 6 ,0 0 0 in 1 9 1 4 . D e n o m in a tio n $ 5 0 0 . D a t e A u g . 21 1 9 0 9 . I n t e r e s t s e m i- a n n u a lly a t t h e C o u n ty T r e a s u r e r ’s o f fic e . B id m u s t b e u n c o n d it io n a l a n d b e a c c o m p a n ie d b y a n u n c o n d it io n a l c e r tifie d c h e c k fo r $ 1 0 0 , d r a w n o n a b a n k In D a r k e C o u n ty a n d m a d e p a y a b le t o t h e B o a r d o f C o u n ty S u p e r v is o r s . Pur ch a ser to p a y a ccru ed n tere t . Dallas County (P. O. Dallas), Texas.— B o n d s V o t e d . — A favorable vote was polled August 3 on the proposition to issue the $600,000 viaduct, $175,000 bridge and $100,000 road and bridge 4% bonds, mention of which was made in Brainerd, Crow Wing County, Minn.— B o n d O f f e r i n g . — V. 88, p. 1635. V. N. Roderick, City Clerk, will sell at public auction at Darke County (P. O. Greenville), Ohio.— B o n d O f f e r i n g . — 8 p. m. August 16 an issue of $10,000 5% coupon permanent Proposals will be received until 1 p. m. Aug. 21 by Frank improvement bonds. Snyder, County Auditor, for the following 4 ^ % bonds: D e n o m in a tio n $ 2 5 0 . D a te a b o u t S e p t. I 1 9 09. I n t e r e s t p a y a b le in M a tu r it y t e n y e a rs. Breda, Carroll County, la .— B o n d O f f e r i n g . — Proposals will be received until 7 p. m. August IS by the Town Clerk for $8,000 5% coupon water-works bonds. A u th o r ity , v o t e o f 67 to 12, a t e le c t io n h e ld J u n e 1. D e n o m in a tio n $ 1 ,0 0 0 . D a te S e p t . 1 1 9 0 9 . I n t e r e s t s e m i- a n n u a lly a t t h e T o w n T r e a s u r e r ’s o f f ic e . M a tu r it y 15 y e a r s . T h e t o w n h a s n o d e b t a t p r e s e n t. Brinkley School District (P. O. Brinkley), Monroe County, Ark.—B o n d S a l e . — An issue of $20,000 6% 10-30-year (op tional) bonds was awarded on July 8 to It. D. Duncan for Defiance, Delaware County, Ohio.— B o n d O f f e r i n g . — Pro the State National Bank in Little Rock at par. Denomi posals will be received until 12 in. Aug. 16 by Thomas E. nation $500. Date July 1 1909. Interest semi-annual. Gorman, City Auditor, for $6,400 5% Hopkins Street im Bronxville, Westchester County, N. Y .— B o n d S a l e . — provement bonds. On Aug. 10 an issue of $5,000 sewer bonds was awarded to D e n o m in a tio n 5 5 0 0 , e x c e p t o n e b o n d fo r $ 4 0 0 . D a te J u ly 1 1 9 0 9 . In Douglas Fenwick & Co. of New York City at 100.19 for 4.35s. t e r e s t s e m i- a n n u a lly . M a tu r it y $ 4 0 0 o n M arch 1 1 9 1 5 a n d $ 5 0 0 y e a r ly o n M arch 1 fr o m 1 9 1 6 t o 1 9 2 7 I n c lu s iv e . C e r tifie d c h e c k fo r 4% o f b o n d s b id The other bids were as follows: fo r , p a y a b le t o t h e C ity T r e a s u r e r , is r e q u ir e d . P u r c h a s e r to p a y a c c r u e d F e r r l s & W h l t c .N .Y - - 1 0 0 .0 8 fo r 4 .3 5 s ] G c o . M . H a h n , N . Y - 1 0 0 . 2 9 fo r 4 .5 0 s \V .N .C o le r & C o .,N .Y _ .p a r fo r 4 , 1 0 s [ 1 st N a t .B k .,C lo v e - 1 0 0 .0 5 fo r 4 .7 5 s D e n o m in a tio n $ 1 , 0 0 0 . ’ D a t e S e p t . 1 1 9 0 9 . I n t e r e s t s e m i-a n n u a l. M a tu r it y $ 1 ,0 0 0 y e a r ly fr o m 19 1 4 t o 19 1 8 I n c lu s iv e . I n te r e s t. Delphos, Allen and Van Wert bounties, Ohio.— B o n d will be received until 1 p. m. Aug. 17 by S. E. Groty, Village Clerk, for the following 5% improve ment bonds voted on June 11 (V. 88, p. 1572). O f f e r i n g . — Proposals Butler, Butler County, Pa.— B o n d s A x d h o r i z e d . — Papers state that an ordinance has been passed providing for the 5 1 0 ,0 0 0 w a t e r -w o r k s -im p r o v e m e n t b o n d s . M a tu r it y J u ly 1 1 9 1 4 . issuance of $25,000 4% bonds. $ 2 0 ,0 0 0 p a r k - im p r o v e m e n t b o n d s . M a tu r it y J u ly 1 1 9 1 9 . A u th o r ity , S e c tio n 2 8 3 5 , R e v is e d S t a t u t e s . D e n o m in a tio n $ 1 ,0 0 0 . Butte, Boyd County, Neb.— B o n d S a l e . —The $9,000 6% J u ly 1 1 9 0 9 . I n t e r e s t s e m i-a n n u a l. C e r tifie d c h e c k fo r 5 % o f t h e 5-20-year (optional) water-works bonds offered without suc aDma te o u n t o f b o n d s b id fo r , p a y a b le t o t h e T r e a s u r e r , is r e q u ir e d . P u rch a ser cess on June 7 (V. 88, p. 1634) were awarded to W. L. Bruce t o p a y a c c r u e d in t e r e s t . of Yankton, S. D., at 102.50 on July 12. Denomination Denham Springs High School District No. 2 (P. O. Den $500. Date June 1 1909. Interest semi-annual. ham Springs), Livingston Parish, La.— D e s c r i p t i o n of B o n d s . Caps Independent School District (P. O. Cap3 ), Taylor — Details are at hand of the $7,500 5% coupon school County, Texas.— B o n d s R e g i s t e r e d . —The State Comptroller building bonds now being offered for sale by the Bank of registered an issue of $4,000 5% 10-30-year (optional) bonds Denham Springs as fiscal agent for the district. D e n o m in a tio n $ 1 0 0 . D a te A u g . 1 1 9 09. I n t e r e s t a n n u a lly o n F e b . 1 on August 2. a t t h e B a n k o f D e n h a m S p r in g s . M a tu r ity p a r t y e a r ly b e g in n in g F e b . 1 Chicago Sanitary District, 111.— B o n d O f f e r i n g . — Pro 1 9 1 0 . B o n d s a r e e x e m p t fr o m a ll t a x e s . C e r tifie d c h e c k fo r $ 1 0 0 , p a y , P r e s id e n t , Is r e q u ir e d . T h e d is t r ic t h a s n o d e b t a t posals arc asked for until Sept. 15, according to local papers, ap br eles etnot. H . ATs.s eCs seo rdn ish v a lu a tio n fo r 1 9 0 8 , $ 3 5 7 ,0 0 0 . for an issue of $1,500,000 4% 20-year (serial) bonds. Des Moines County (P. O. Burlington), Iow a.— B o n d s N o t D e n o m in a tio n $ 1 ,0 0 0 . D a t e O c t. 1 1 9 0 9 . R e p o r t s f u r th e r s t a t e t h a t $ 1 ,0 0 0 ,0 0 0 o f t h e b o n d s w ill b e d e liv e r e d o n O c t. 1 a n d t h e b a la n c e , $ 5 0 0 , S o l d . — No bids were received on August 2 for the $18,500 0 0 0 , w ill b e d e liv e r e d o n t h e s a m e d a t e o r o n N o v . 1, a t t h e o p t io n o f p u r 4% bonds described in V. 89, p. 301. We are advised that ch a ser. issue is for voting-machines and will probably be taken Cincinnati, Ohio.— B o n d O f f e r i n g . — Proposals will be the received until 12 m. September 7 by Ernst Von Bargcn, by the Standard Voting Machine Co. Duluth, St. Louis County, Minn.—B o n d A w a r d . —On City Auditor, for $50,000 4% street-improvement bonds. A u th o r ity S e c tio n 2 8 3 5 , R e v is e d S t a t u t e s . D e n o m in a tio n $ 5 0 0 . D a te July 26 the $50,000 4%^ 30-year gold coupon park-improve d a y o f s a le . I n t e r e s t s e m i-a n n u a l. M a tu r ity o n e y e a r . B id m u s t b e ment bonds for which bids were received on July 19 (V. 89, m a d e o n a p r in te d fo rm f u r n is h e d b y t h e C it y A u d ito r a n d b e a c c o m p a n ie d p. 301) were awarded to the N J. Upham Co. of Duluth b y a c e r tifie d c h e c k fo r 5% o f b o n d s b id fo r , m a d e p a y a b le t o t h e s a id A u d it o r . T h e b o n d s a r e n o n - t a x a b lc . P u r c h a s e r to p a y a c c r u e d I n te r e s t. at par. B o n d s A u t h o r i z e d . —The City Council on Aug. 9 passed Dunmore, Lackawanna County, Pa.— B o n d O f f e r i n g . — an ordinance providing for the issuance of $100,000 of the Proposals will be received until 8 p. m. August 17 by Chas. $2,365,000 4% coupon hospital bonds voted on May 11 H. Genter, Borough Secretary, 422 Copnell Building, 1909. V. 88, p. 1268. Scranton, for S85,000 4J^% coupon or registered funding D e n o m in a tio n $ 5 0 0 . D a te A u g u st 20 1 9 0 9 . I n te r e s t s e m i-a n n u a l and sewer-construction bonds. M a tu r it y 5 0 y e a r s . . . D e n o m in a tio n $ 1 ,0 0 0 . D a t e A p r il 1 1 9 0 9 . I n t e r e s t s e m i-a n n u a lly in D u nm ore. M a tu r it y $ 2 ,0 0 0 y e a r ly fr o m 1 9 1 0 to 1 9 1 9 in c lu s iv e , $ 3 ,0 0 0 y e a r ly fr o m 1 9 2 0 t o 1 9 3 4 in c lu s iv e a n d $ 4 ,0 0 0 y e a r ly fr o m 1 9 3 5 t o 1 9 3 9 in c lu s iv e . C e r tifie d c e h c k fo r $ 5 0 0 , p a y a b le t o t h e B o r o u g h o f D u m n o r e , is r e q u ir e d . B o n d s a r e e x e m p t fr o m t a x a t i o n In P e n n s y lv a n ia . Edgar, Clay County, Neb .— B o n d s V o t e d . —An election held August 5 resulted in favor of a proposition to issue $5,000 5-20-year (optional) electric-light bonds at not exceeding 6% interest. The vote was 72 “for” to 53 “against.” Elizabeth, Union County, N. J.— B o n d S a l e . —The $225,000 4% coupon river-improvement bonds mentioned in V. 87, p. 1075, were awarded last month to the Fidelity Trust Co. of Newark at par and interest. D e n o m in a tio n $ 1 ,0 0 0 . M a tu r it y J a n . 1 1 9 5 9 . D a te Jan. 1 1909. In ter e st s e m i-a n n u a l. Grandview, Johnson County, Tex.— B o n d S a l e . — The $5,000 5% 5-40-year (optional) water-works bonds regis tered on June 10 by the State Comptroller (V. 88, p. 1573) were recently purchased by the State Board of Education at par and accrued interest. Halifax County (P. O. Halifax), N. C.— B i d s R e j e c t e d . — The bids received on Aug. 1 for the $40,000 6% coupon court-house bonds described in Y. 89, p. 240, were rejected. Local papers state that the issue will be re-advertised. Hamblen County (P. O. Morristown), Tenn.— B o n d O f f e r i n g .— Proposals will be received until 10 a. m. Aug. 23 by the Pike Commissioners, J. N. Fisher, Chairman, for the $200, 000 5% coupon turnpike bonds voted (V. 89, p. 60) on June 25. Essex County (P. 0 . Salem), Mass .— L o a n O f f e r i n g .— D e n o m in a tio n $ 1 ,0 0 0 . D a te O ct. 1 1 9 09. In te r e st J a n . 1 a n d J u ly 1 d b y p u rch aser. M a tu r it y t h ir t y y ea rn . C e r tifie d c h e c k Proposals will be received until 11 a. m. August 10 by the afotr p$la5 c,0e0 d0 eiss igrne qa te u ir e d . P u r c h a s e r t o fu r n is h t h e b o n d s a t ills o w n e x p e n s e . County Commissioners for the discount of $100,000 notes. Hamilton County (P. O. Chattanooga), Tenn.— Bond They will be dated August 25 1909 and mature $50,000 O f f e r i n g . —Further details are at hand relative to the offering December 25 1909 and $50,000 December 31 1909. on Aug. 24 of the $100,000 20-year bridge and $50,000 Essex County (P. O. Newark), N. J .— B o n d O f f e r i n g .— 30-year Rossville Boulevard 4 x/ f / 0 coupon bonds, mentioned Proposals will be received until 2 p. m. Aug. 25 by the Fi in V. 89, p. 302. Proposals will be received until 12 m. on nance Committee, Board of Chosen Freeholders, Amos W. that day by S. M. Walker, County Judge. a tio n $ 1 ,0 0 0 . D a te O ct. 1 19 0 9 . I n t e r e s t s e m i- a n n u a lly a 4Harrison, Chairman, for $50,000 4% gold coupon park bonds. t h eD eNnaotmio in n a l C ity B a n k in N e w Y o r k C ity . C e r tifie d c h e c k fo r $ 5 0 0 , p a y D e n o m in a t io n $ 1 ,0 0 0 . D a te A u g. 1 1909. I n t e r e s t s e m i-a n n u a l. M a tu r it y A u g . 1 1 9 4 9 . C e r tifie d c h e c k fo r $ 5 0 0 is r e q u ir e d . P u r c h a se r t >p a y a c c r u e d I n t e r e s t . B id m u s t be u n c n d l t i c n a l . T h e b o n d s w ill be r e a d y lo r d e liv e r y A u g . 27 1 9 0 9 . T h e g e n u in e n e s s o f t h e b o n d s w ill b e c e r t ifie d t o b y t h e U n it e d S t a t e s M o r tg a g e & T r u s t C o . o f N e w Y o r k C ity . T h e o f f i c i a l n o t i c e o f t h i s b o n d o f f e r i n g i v i l l be f o u n d a m o n g th e a d v e r t i s e m e n t s e l s e w h e r e i n t h i s D e p a r t m e n t . Eureka School District (P. O. Eureka), McPherson County, So. Dak .— B o n d s V o t e d . — Papers state that a recent election resulted in favor of the issuance of $0,000 school-building bonds. Farragut Independent School District (P. O. Farragut), Fremont County, l a .— B o n d O f f e r i n g . — Proposals will be received at any time by the Board of Directors for $5,000 5% coupon or registered school-house bonds. D e n o m in a tio n $ 1 ,0 0 0 . D a t e A u g u s t 2 0 1 9 0 9 . M a tu r it y fr o m 1 to 5 y e a r s . T h e d is t r ic t h a s n o d e b t a t p r e s e n t . A s s e s s e d v a lu a tio n 19 0 9 $ 120 , 0 00 . Fort Worth, Texas.— B o n d s O f f e r e d b y B a n k e r s . —In an advertisement on a preceding page Francis, Bro. & Co. of St. Louis are offering to investors $150,000 4)^% gold coupon school bonds. D e n o m in a tio n $ 1 ,0 0 0 . D a te M ay 1 1 9 0 9 . In te r e st J u n e 1 a n d D ec. 1 a t th e H a n o v e r N a t io n a l B a n k in N e w Y o r k C it y . M a tu r it y J u n e 1 1 9 1 9 , s u b j e o t t o c a ll a f t e r J u n e 1 1 9 2 9 . a b le to t h e C o u n ty J u d g e , Is r e q u ir e d . Harris County (P. O. Houston), Texas.— B o n d s V o t e d .— A favorable vote was polled Aug. 3 on the proposition to issue the $500,000 4 y 2 % road bonds mentioned in V. 89, p. 240. Helena, Mont.— B o n d s D e f e a t e d . — According to reports, a special election held August 9 resulted in the defeat of a proposition to issue $650,000 bonds for a municipal water plant. Hemphill County (P. O. Canadian), Texas.— B o n d S a l e .— We are advised that the $10,000 5% 10-40-ycar (optional) road-improvement bonds registered by the State Comptroller on July 19 (V. 89, p. 302) have been purchased by the State Board of Education on a ± A % basis and accrued interest. Henrietta Independent School District (P. O. Henrietta), Clay County, Texas.— B o n d s R e g i s t e r e d . — An issue of $30, 000 5% 10-40-year (optional) bonds was registered on Aug. 4 by the State Comptroller. Hickman County (P. O. Centerville), Tenn.— B o n d s D e f e a t e d . — It is stated that an election held Aug. 7 resulted in the defeat of a proposition to issue $100,000 road bonds. Hopedale, Harrison County, Ohio.— B o n d O f f e r i n g .— Proposals will be received until 12 m. August 16 by Charles M. Miller, Village Clerk, for $3,900 4% coupon sidewalk bonds. B o n d E l e c t i o n . — Local papers state that an election will be held Aug. 19 to vote upon a proposition to issue $650, A u th o r ity S e c tio n 2 8 3 5 , D e v is e d S t a t u t e s . D e n o m in a t io n $ 1 0 0 . D a te 000 water-works and street-improvement bonds. J u ly 1 1 9 0 9 . I n t e r e s t s e m i- a n n u a lly a t t h e V illa g e C leric’s o f fic e . M a t u r it y p a r t o n J u ly 1 1 9 1 4 , J a n . I 1 9 1 7 a n d J u l y 1 1 9 1 9 . B on ded d eb t Franklin County (P. O. Columbus), Ohio.— B o n d S a l e .— In c lu d in g t h is iss u e , $ 4 ,2 5 0 . On Aug. 5 the $4,200 5% Groveport Pike improvement Jasper, Dubois County, Ind.— B o n d S a l e . — On Aug. 9 bonds described in V. 89, p. 301, were awarded to the the $4,000 4% coupon reservoir bonds described in V. 89, Commercial & Savings Bank in (lallipolis tor S4/250 75 p. 364, were awarded to the Farmers’ & Merchants’ Bank (101.208) and accrued interest. The other bids were: at 100.4625 and accrued interest. A bid of 100.05 was also F i r s t N a t . B a n k , B a r n e s v i ll e .$ 4 ,2 2 G I F . M . J o h n s o n . W o r t h in g t o n .$ 4 ,2 5 0 received from the Dubois County State Bank. M a tu r it y o n S e p t . I a s fo llo w s : $ 7 0 0 in 1 9 1 0 , $ 8 0 0 in e a c h o f t h e y e a r s 1911 a n d 1 9 1 2 , $ 9 0 0 in 191 3 a n d $ 1 ,0 0 0 in 1 9 1 4 . Jefferson County (P. O. Steubenville), Ohio.— B o n d O f f e r Fruita, Mesa County, Col.— B o n d s V o t e d . — An election i n g . — Proposals will be received until 12 m. Aug. 17 by the held Aug. 4 resulted in favor of issuing $20,000 funding Road Commissioners for $21,000 4j^% coupon Reed’s Mill and Bloomfield Free Turnpike road bonds. bonds. , S e c tio n 4 8 0 8 . R e v is e d S t a t u t e s . D e n o m in a tio n $ 5 0 0 . D a t e Gadsden, Ala.— P r i c e P a i d f o r B o n d s . — We are advised S e pAtu. th1o r1ity e s t s e m i- a n n u a lly a t t h e C o u n ty T r e a s u r e r s o f fic e . that the price paid for the $40,000 5% 30-year refunding M a tu r it y a9s0 9fo. lloIwnst:e r___ ................. ..................... ..................- | $ 5 0 0 . . S e p t . 1*22 _ sewer bonds awarded on July 24 to Steiner Bros, of Birming l ,0 0 0 _ _ M c h . 1 ’2 3 ham ( V. 89, p. 303) was par and accrued interest. Denomi 1.0 0 0 . . S e p t. 1 1 . 0 0 0 . _M ch . 1 ’24 nation $1,000. Date Sept. 1 1909. Interest semi-annual. 5 0 0 . . S e p t . 1 ’24 1 . 0 0 0 . . M cll. 1 ’2 5 Gallup, McKinley County, New Me x . — B o n d O f f e r i n g . — 1 , 0 0 0 . . S e p t . 1 ’25. Further details are at hand relative to the offering on r.rin \ f c h . 1 ’14 11 0 0 0 U....c.................................... h l ’18 1 1 .0 0 0 — Mc'h. 1 ’22 | Aug. 18 of the $20,000 6% gold water, sewer and street C e r tifie d c h e c k fo r 5% o f a m o u n t b id , p a y a b le t o th e R o a d C o m m is improvement bonds mentioned in V. 89, p. 302. Proposals s io n e r s , is r e q u ir e d . B o n d S a l e . — On Aug. 6 the $22,000 4 ^ % .coupon Bloom will be received until 8 p. m. on that day by W. R. Cregar, field and Fairplay Turnpike bonds described m V. 89, p. 240, Town Clerk. T D e n o m in a t io n t o s u it p u r c h a s e r . D a te A u g. I 19 0 9 . In ter e st sem i were’awarded to the First National Bank of Smithfield, O., a n n u a lly In N e w Y o r k C it y . M a tu r ity 3 0 y e a r s , s u b j e c t t o c a ll a fte r 2 0 at 103.204. The bids were as follows: y e a r s . C e r tifie d c h e c k fo r $ 5 0 0 , p a y a b le t o t h e t o w n o f G a llu p , is r e q u ir e d . h M l..W .y r t .$ 2 2 ,422 40 Garfield County (P. O. Burwell), Neb .— B o n d E l e c t i o n .— FNira tst. ENxacth. . BBlclc.,., SSmt eituhbf’v’d’e. 5 2222.7,505 51 00 00 I GA .lbWe r. 't3a.Ar o. nI,W lu s c m a n , U n . 22,128 5 0 An election will be held Aug. 17 to vote on the question of \V . R . T o d d & C o ., C i n - - 2 2 ,4 5 5 0 0 (J a m e s W . L e r r y , C r c sw e ll a 2 , 0 7 5 0 0 issuing $10,000 4 ^ % 10-20-year (optional) funding bonds a F o r $ 2 ,0 0 0 b o n d s . . dated Sept. 1 1909. Johnstown, Cambria County, Pa.— B o n d O f f e r i n g . Pro Gates, Lauderdale County, Tenn .— B o n d s V o t e d . —The posals will be received until 12 m. Sept. 2 by Chas. II. question of issuing school-house bonds was favorably voted Vehn, City Treasurer, for $30,000 4% coupon overhead upon at an election held recently. ridge bonds. Glens Falls, N. Y .— B o n d O f f e r i n g . — Proposals will be re A u th o r ity , S e c tio n 2 , A c t o f G e n e r a l A s s e m b ly , p a s s e d A p ril 2 0 1 8 7 4 . d e n o m in a tio n $ 5 0 0 . D a t e M a rch 1 1 9 0 5 . , at ceived until 8 p. in. Aug. 30 by A. S. Rugge, City Clerk, for l t y T r e a s u r e r ’s o f fic e . M a tu r it y M a rch l 1 9 3 o , s u b j e c t t o c a ll a f t e r [a rc h t 1 9 1 5 . P u r c h a s e r t o p a y a c c r u e d in te r e s t. B o n d s are e x e m p t $50,000 \ A X % coupon water bonds. •om S t a t e t a x . D e n o m in a tio n $ 1 ,0 0 0 . D a t e J u l y 1 1 9 0 9 . , J ? te r e s t. s e m i-a n n u a lly a t Kansas.— B o n d s P u r c h a s e d i n J u l y . 1he following bonds t h e C ity C h a m b e r la in ’s o f f ic e . M a tu r it y $ 1 0 ,0 0 0 y e a r ly o n J u l y 1 fro m 1916 t o 1 9 2 0 i n c lu s iv e . T h e p r in c ip a l a n d in te r e s t o n t h e s e b o n d s w ill be rere purchased by the State School Fund Commissioners p a id o u t o f t h e m o n e y s r e c e iv e d fr o m t im e t o t im e fo r w a t e r r e n ts . B id uring the month of July: t o b e m a d e o n a p r in te d fo r m fu r n is h e d b y t h e c it y . T h e o f f i c i a l n o t i c e o f t h i s b o n d o f f e r i n g w i l l be f o u n d a m o n g th e a d v e r t i s e m e n t s e ls e w h e r e i n t h i s D e p a r t m e n t . Grand Junction, Mesa County, Col.— B o n d S a l e . —The $65,000 5% 20-ycar refunding water bonds voted on April 5 (V. 88, p. 1080) were awarded on April 20, we are now in formed, to Orson Adams for $65,282 65, the price thus being 100.434. Denominations $500 and $1,000. C o w le y C o u n ty S c h o o l D is tr ic t N o . 1 3 8 — $ 7 0 0 b o n d s. E lk C o u n ty S c h o o l D is tr ic t N o . 3 5 — $ 5 0 0 o/> bond s . F i n n e y C o u n ty S c h o o l D is tr ic t N o . 1‘•7 7 $ ’’ ’® °? •>/ ;’ s’ F o r d C o u n ty S c h o o l D is tr ic t N o . 5 /^ ^ b o n d s G a r d e n C it y S c h . D I s t., F in n e y C o .— $3 5 ,0 0 0 4 bonds due Jan. 1 29. G r a h a m C o u n t y S c h o o l D is tr ic t N o . 1 5 ^ $ 2 ,8 9 0 53 5 /S b o n d s. G r e e n w o o d C o u n ty S c h o o l D is tr ic t N o . 2 5 — $ 2 ,0 0 0 5 ,o b o n d s. I n d e p e n d e n c e — $ 2 1 ,0 0 0 5% s e w e r b o n d s d u e F e b . 1 1 9 3 9 . M a r io n C o u n ty S c h o o l D is tr ic t N o . 3 5 — $ 2 ,5 0 0 .> 0 b o n d s. M a rio n C o u n ty S c h o o l D is tr ic t N o . 4 0 ——^ 4 ,0 0 0 o I’p m ls . M itc h e ll C o u n ty S c h o o l D is tr ic t N o . 7 7 — $ 1 ,2 0 0 5% b o n d s . , . '2 3 M o n tg o m e r y C o u n ty S c h o o l D is tr ic t N o . 1 0 9 — 5 5 ,9 0 0 5% b o n d s . N o r th T o p e k a — 5 1 0 ,0 0 0 5% d r a in a g e b o n d s d u e F e b . 1 1 9 1 3 -1 9 1 5 . P a o la , M iam i C o u n ty — 5 4 ,3 3 0 3 6 5% I m p r o v e m e n t b o n d s . P a w n e e C o u n ty S c h o o l D is tr ic t N o . 4 5 — 5 6 0 0 5% b o n d s . P h illip s C o u n ty S c h o o i D is tr ic t N o . 4 9 — 5 7 0 0 5% b o n d s . P h illip s C o u n ty S c h o o l D is tr ic t N o . 2 1 — $ 1 ,0 9 2 5% b o n d s . S e w a r d C o u n ty S c h o o l D is tr ic t N o . 2 5 — 5 5 0 0 5% b o n d s . S tan ford C o u n ty S c h o o l D is tr ic t N o . 4 5 — 5 1 2 ,0 0 0 4 *£% b o n d s . S t a n t o n C o u n ty S c h o o l D is tr ic t N o . 2 5 — 5 6 0 0 6 % b o n d s . W o o d s o n C o u n ty S c h o o l D is tr ic t N o . 3 3 — $ l ,2 0 0 5 % b o n d s . D e n o m in a tio n $ 5 0 0 . I n t e r e s t s e m i - a n n u a ' . M a tu jt t y 1 0 y e a r s , s u b j e c t t o c a ll o n a n y I n t e r e s t -p a y in g d a t e . I f t h is o p t io n Is e x e r c is e d , t h e h o ld e r o f t h e b o n d s w ill r e c e iv e a s a b o n u s a s u m e q u a l t o o n e - h a lf t h e a n n u a l I n t e r e s t . C e r tille d c h e c k fo r $ 1 ,0 0 0 Is r e q u ir e d . T h e o p in io n o f S t o r e y , T h o r n d ik e , P a lm e r A T h a y e r o f D o s t o n a s t o t h e le g a l i t y o f t h e Issu e w ill b e f u r n is h e d t o t h e p u r c h a s e r . S t a t e S c h o o l F u n d — P a r fo r b o n d s b e a r in g s e m i-a n n u a l I n te r e s t. T r o w b r id g e A N iv e r C o ., C h i c . $ 5 2 , 8 5 0 1J . H . C a u s c v A C o ., D e n v e r $ 5 2 ,5 1 2 J o h n N u v e e n A C o ., C h ic a g o .* 5 0 ,0 5 0 O tis A H o u g h , D e n v e r 5 1 ,5 0 4 W o o d in .M c N e a r A M o o r e , C hi 5 2 ,8 0 5 [ C . H . C o ffin A C o ., C h ic a g o . 5 0 ,5 0 1 Mount Olive, Covington County, M iss.— B o n d O f f e r i n g . — Proposals will be received until 1 p. m. Aug. 20 by J. B. Rawls Jr., Town Clerk, for $8,000 6% coupon electric-light Key West, Monroe County, Fla.— B o n d E l e c t i o n . —An bonds. election will be held Nov. 9 to vote on a proposition to issue D e n o m in a tio n $ 5 0 0 . D a te A u g. 10 19 0 9 . I n t e r e s t a n n u a lly a t t h e $240,000 5% 30-year paving and sewerage bonds. M o u n t O liv e D a n k . M a tu r it y A u g . 1 0 1 9 2 9 . C e r tille d c h e c k fo r 5 % , p a y a b le t o t h e C le r k , Is r e q u ir e d . D o n d e d d e b Lansing, Ingham County, Mich.— B o n d S a l e . —The is s u e , $ 1 0 ,0 0 0 . F l o a t in g d e b t , $ 5 0 0 . A s s e s s e d vta, l unaottioInn c1lu9 0d8in, g$ 3 p6 r5 e,9s e0n7 t. $3,000 4j/>% 1-3-year (serial) coupon High Street sewer Mullin School District (P. O. Mullin), Mills County, Texas. bonds offered on July 20 (V. 89, p. 241) were awarded to the City National Bank of Lansing at par and accrued interest. — B o n d S a l e .—The $12,000 5% 20-40-year (optional) coupon school-building bonds described in V. 88, p. 1638, were No other bids were received. on July 10 to C. H. Coffin of Chicago for 812,121, Lead School District (P. O. Lead), Lawrence County, awarded S. D .— B o n d S a l e . — On Aug. 2 the $17,000 5% 10-20-year the price thus being 101.008. (optional) bonds described in V. 89, p. 303, were awarded Muskogee, Muskogee County, Okla.— B o n d O f f e i r n g . — to the First National Bank of Lead at par and accrued Proposals will be received until 8 p. m. Aug. 16 by A. F. interest. The bids were as follows: McGarr, Mayor, for $60,000 25-ycar fire-protection bonds at not exceeding 5% interest. F ir s t N a t io n a l H a n k , L e a d — P a r a n d a c c r u e d I n t e r e s t . In ter e st to be p a id a n n u a lly . C. I I . C o ffin , C h ic a g o — $ 1 7 ,1 5 1 fo r b o n d s . I n t e r e s t t o b e p a id a n n u a lly Nampa, Canyon County, Idaho.—Bond S a l e — On Aug. 2 ( N o c e r tifie d c h e c k .) city-hall and $20,000 fire-station 6% 10-20-year S. A . K e a n A C o ., C h ic a g o — 5 1 7 ,1 8 7 fo r b o n d s b e a r in g s e m i-a n n u a $30,000 l in te r e s t. (optional) bonds were awarded to Trowbridge & Niver Co. HWJohn N u v e e n A C o ., C h ic a g o — $ 1 7 ,0 1 2 fo r b o n d s b e a r in g s e m i-a n n u a l of Chicago at 105.70. The bids were as follows: In ter e st. Lenox, Berkshire County, Mass.— B o n d S a l e . —This town on July 29 awarded $40,700 4% school and fire-department bonds to Crocker & Fisher of Boston at 102.073. Denomi nations: $5,000, $5,500, $2,200 and $3,000. Date June 1 1909. Interest semi-annual. Liberty Township, Crawford County, Ohio.— B o n d S a l e .— We are informed that the $12,000 5% coupon road bonds offered but not awarded on June 18 (V. 88, p. 1637) wore sold on July 24 to the Farmers' Exchange Bank of New Washington for $12,875, the price thus being 107.291. Lisbon, bhio.— B o n d S a l e — On July 10 $2,500 4% re funding bonds were awarded to C. S. Spraker of Lisbon at 102.50 and accrued interest. • F o r 5 'As. D e n o m in a tio n $ 1 ,0 0 0 . D a te A ug. 2 1909. In te r e st J a n . a n d J u ly . Nassau County (P. O, Mineola), N. Y,— B i d . — In addition to the successful bid of N. W. Harris & Co. of New York City at 100.198 and accrued interest for the $125,000 4% gold road and bridge bonds awarded them on Aug. 2 (V. 89, p. 365), an offer of par and accrued interest was also received from the Discount Securities Co. Newburgh, Orange County, N. Y.— B o n d O f f e r i n g . — Pro posals will be received until 2 p. m. Aug. 16 by Benjamin McClung, Mayor, for the following 4% registered improve ment bonds, aggregating $ 7 1,400: $14,300 North Water Street D e n o m in a tio n $ 5 0 0 . D a t e J u ly t 1 9 0 9 . I n t e r e s t a n n u a l. M a tu r ity paving, $14,900 Broadway improvement and $42,200 South 5 5 0 0 y e a r ly fr o m 1 9 2 9 t o 19 3 3 I n c lu siv e . Longport, N. J.— N o A c t i o n Y e t T a k e n . — No steps have Water Street paving bonds: le 6 , C h a p te r 2 0 3 , L a w s o f 1 9 0 7 . D a te S e p t. 1 yet been taken looking towards the issuance of the $20,000 1 9 0A9u. t h Ionr titeyr ,e sSt e cs et iom ni-a1n, nTuiat lly a t t h e C it y T r e a s u r e r ’s o f flo e . M a tu r it y electric-light and $5,000 water-works bonds voted on June 17. o n e - t e n t h o f e a c h Issu e y e a r ly , c o m m e n c in g S e p t . 1 1 9 1 0 . V. 88, p. 1037. New Martinsville, W etzel County, W. Va,— B o n d E l e c t i o n . Los Angeles-Wilmington, Cal.— C o n s o l i d a t i o n . — An elec — On Sept. 7 the citizens of this town will vote on a proposition to issue not exceeding $12,000 water-works-improvement tion held A«g. 4 resulted in favor of the consolidation of these cities. Local papers give the vote as follows: In Wil bonds. mington, 107 "for” to 61 “against;” in Los Angeles, 13,661 Newton, Newton County, Miss.— B o n d S a l e . — An issue “for” to 221 "against.” of $4,000 water bonds has been awarded, it is stated, to Lucas County (P. O. Toledo), Ohio.— B o n d S a l e . — On John Nuveen & Co. of Chicago at par for 6s. August 10 the two issues of bonds described in V. 89, p. 241 Newton County (P. O. Kentland), Ind.—B o n d S a l e . — were awarded as follows: On August 10 the following macadam road bonds were 5 1 6 ,7 6 0 5% G le n d a le A v c . b o n d s a w a r d e d t o D reed & H a r r is o n o^ disposed of : C in c in n a t i a t 1 0 4 . M a tu r it y $ 2 ,2 6 0 in 1 9 1 0 , 5 2 ,0 0 0 In e a c h o f t h o y e a r s 1911 a n d 1912 a n d $ 1 ,5 0 0 y e a r ly fr o m 1913 to 191 9 in c lu s iv e . 6 4 ,6 4 0 4 'A % D r o w n H o a d b o n d s a w a r d e d to C. E . D e n is o n A C o . of C le v e la n d a t 1 0 2 .1 3 . M a tu r it y $ 6 ,1 4 0 in 1 9 1 0 a n d $ 6 ,5 0 0 y e a r ly fr o m 1911 t o 1 9 1 9 I n c lu s iv e . F o llo w in g a r e t h e p r e m iu m s o ffe r e d : $ 1 6 ,7 6 0 $ 6 4 ,6 4 0 lio m ls . D r e e d A H a rr iso n , C in c in n a ti _____ _______ _____ Iio m ls. _ .$ 6 7 0 $ 1 ,2 9 2 80 H a y d e n , M iller A C o ., C le v e la n d . . ................................... 6 0 1 F ir st N a t io n a l D a n k , C l e v e la n d ............... . . . . . . _ ____. 6 5 7 C it iz e n s ’ S a fe D e p o s it A T r u s t C o ., T o l e d o . . ___ . 651 O h io S a v in g s D a n k A T r u s t C o ., T o le d o . ___ . . . . 6 4 4 W e ll, R o t h A C o ., C in c in n a ti ____ ______ ____ .. . 643 O tis A H o u g h , C l e v e la n d - . -------------630 S e c u r it y S a v in g s H an k A T r u s t C o ., T o l e d o . ................ . 6 1 2 TTnlon S a v in g s D a n k , T o le d o . ___ _______ _________ . 6 0 2 C le v e la n d T r u s t CO ., C le v e la n d -------------------------595 W . H . T o d d A C o ., C in c in n a ti . . . 551 F ift h - T h ir d N a t io n a l D a n k , C i n c i n n a t i ........................... 310 W e s te r n -G e r m a n D a n k , C in c in n a t i____________ 264 1 ,3 0 0 00 1 ,1 4 7 00 C. E. Denison & Go., Cleveland_______________________ ____ 1 ,3 7 7 0 0 1 ,2 6 0 49 1 ,2 0 5 45 1 ,1 3 3 00 _____ 1 ,1 0 5 35 2 ,1 2 1 0 0 1 ,3 5 7 44 1 ,0 7 0 00 $ 3 1 ,6 0 0 a w a r d e d t o a n d accru ed 1 2 .0 0 0 a w a r d e d t o I n te r e s t. 2 5 .0 0 0 a w a r d e d t o a n d accru ed t h e F le tc h e r N a t io n a l B a n k o f I n d ia n a p o lis a t 1 0 0 .9 5 4 In ter e st. J . F . E l li o t t A S o n s o f I n d ia n a p o lis a t 101 a n d a c c r u e d t h e F le tc h e r N a t io n a l B a n k o f I n d ia n a p o lis a t 1 0 0 .9 6 In terest. Niagara Falls, Niagara County, N. Y.— B o n d S a l e . — Reports state that the $300,000 4 % gold registered series “A” water bonds offered on July 29 (V. 89, p. 242) have been sold. Maturity on January 1 as follows: $75,000 in 1919 and $15,000 yearly from 1920 to 1934 inclusive. Nottingham, Cuyahoga County, Ohio,—B o n d s N o t S o l d . — No bids were received on August 9 for the $7,000 4% villagehall-building bonds described in V. 89, p. 303. Oklahoma City, Okla.— B o n d E l e c t i o n . — An election will be held on Sept. 7 to vote upon propositions to issue SSOJKM) city-hall refunding, $150,000 city-hall building and $185,000 storm sewer 5% bonds. Onamie School District (P. O. Onamie), Millelacs County, Minn.— B o n d S a l e . —This district has sold $5,000 bonds to the State of Minnesota. Orange County (P. O. Orange), Tex.— V o t e . — We are ad vised that the vote on the proposition to issue the $100,000 5% Sabine-Neches Canal improvement bonds, mentioned in V. 89, p. 365, was 861 “for” to 39 “against.” Orrville, Wayne County, Ohio.— B o n d O f f e r i n g . — Pro posals will be received until 12 m. Aug. 16 by A. L. Reed, Village Clerk, for the following improvement assessment bonds: Lynn, Mass.— T e m p o r a r y L o a n . —This place has borrowed $100,000 from Loring, Tolman & Tupper of Boston at 3 % % discount. Loan matures Nov. 15 1909. Maverick County (P. O. Eagle Pass), Texas. — B o n d S a l e . —The State Board of Education has purchased at par and interest $20,000 4% 10-40-year (optional) road bonds. Memphis, Tenn.— B o n d O f f e r i n g .— Attention is called to the official advertisement elsewhere in this department of the offering on August 31 of the $260,000 4% 40-year coupon Central Police Station bonds. Authority Chapter 356, Acts of 1909. For details of bonds and terms of offering see V. 89, p. 364. $ 1 ,8 0 0 5% M ill S t r e e t im p r o v e m e n t b o n d s . D e n o m in a tio n $ 1 8 0 . 0 0 5% O rr S t r e e t I m p r o v e m e n t b o n d s . D e n o m in a tio n $ 4 5 0 . Merkel, Taylor County, Texas. — B o n d s R e g i s t e r e d .—The 45 ,5 ,3 0 0 4 H % O rr S t r e e t i m p r o v e m e n t b o n d s . D e n o m in a tio n $ 5 3 0 . $25,000 5% 2 0 -4 0 -year (optional) water-works bonds D a te A u g. 1 1909. I n t e r e s t a n n u a l. M a tu r it y o n e b o n d o f e a c h Issu e n A u g . 1 fr o m 1 9 1 0 to 1 9 1 9 I n c lu s iv e . C e r tifie d c h e c k fo r 5% o f recently voted (V. 88, p. 1574) were registered by the State yb eoanrdlys bo id fo r , p a y a b le t o t h e V illa g e T r e a s u r e r , Is r e q u ir e d . P u rch aser Comptroller on Aug. 3. t o p a y a c c r u e d I n te r e s t. Pensauken Township (P. O. Camden), Camden County, Monrovia, Los Angeles County, Cal.— B o n d O f f e r i n g .— Proposals will be received until 8 p. m. Aug. 16 by L. E. N. J.— B o n d S a l e . —Of $19,800 5% school bonds offered on Hotchkiss, City Clerk, for $16,500 5% water-department August 10 $15,500 were awarded to R. M. Grant & C o . of New York City at 102.01. The following bids were received bonds. for the entire $19,800 : D e n o m in a tio n $ 5 0 0 . I n t e r e s t J a n . 1 a n d J u l y 1 . M a tu r it y $ 5 0 0 y e a r ly o n J u l y 1 fro m 1 0 1 0 t o 19 4 2 I n c lu s iv e . b id is r e q u ir e d . C e r tlllc d c h e c k fo r 5% o f a m o u n t Montgomery, Montgomery County, Ala.— B o n d O f f e r i n g . — Proposals will be received until 12 m. Aug. 16 by Robert Tait, City Treasurer, for $50,000 5% paving bonds. II. K . S t o k e s , N e w Y o r k — a $ 2 0 , 0 0 0 ] S e c u r it y T r u s t C o ., C a m d e n $ 1 9 ,8 4 0 a “ P r in tin g S u p p li e d .” D e n o m in a tio n s : 2 0 b o n d s o f $ 5 0 e a c h : 33 b o n d s o f $ 1 0 0 e a c h , 13 b o n d s o f $ 5 0 0 e a c h a n d 9 b o n d s o f $ 1 ,0 0 0 e a c h . I n t e r e s t s e m i-a n n u a l. M a tu r it y p a r t y e a r ly fro m n in e t o t w e n t y - f o u r y e a r s fr o m d a t e . Pomona (Cal.) High School District.— Price Paid for Bonds.— W e a re H o llin s & S o n s o f in fo r m ed t h a t th e p rice p a id b y E . H . S a n F r a n c isc o fo r th e $ 6 5 ,0 0 0 4 j^ % sc h o o l b o n d s a w a r d e d to th e m on J u ly 12 (V . 8 9 , p . 3 0 3 ) w a s 1 0 5 .7 0 a n d in te r e s t. D e n o m i n a t i o n s $ 1 ,0 0 0 a n d $ 5 0 0 . D a t e J u l y 12 1 9 0 0 . I n t e r e s t a n n u a l. M a tu r it y $ 1 ,5 0 0 y e a r ly o n J u l y 12 fr o m 1 9 1 0 t o 1 9 3 9 in c lu s iv e a n d $ 2 ,0 0 0 y e a r ly o n J u l y l fr o m 1 9 4 0 t o 1 9 4 9 I n c lu s iv e . Pontiac, Mich.— No Action Yet Taken.— U p to A u g . 7 n o a c t io n h a d b e e n ta k e n to w a r d s re-o fferin g th e $ 6 ,0 0 0 a rm ory b o n d s , b id s fo r w h ic h w e re r e je c te d on J u n e 7 . V . 8 8 , p . 1576. Sandusky County (P. O. Fremont), Ohio.—Bond Sale.— T h e fo llo w in g b id s w ere r e c e iv e d o n A u g . 9 for th e $ 2 7 ,5 0 0 4x A°7o L u th e r G ib b s R o a d im p r o v e m e n t N o . 3 b o n d s d e sc r ib ed in V. 8 9 , p . 366: H a y d e n , M iller & C o ., C le .$ 2 7 , 831 C. E . D e n is o n & C o ., C lc . 27 ,7 9 7 B a r t o , S c o t t & C o ., C o l . _ 27 7 9 4 F ir s t N a t . B a n k , C le v e l’d 27 7 9 4 F r e m o n t S a v . B k ., F r e m ’t 27 7 9 0 S e a s o n g o o d & M a y e r , C ln . 27 7 8 8 B r e e d & H a r r is o n , C ln . - 27 ,7 8 8 ,7 7 8 ,7 7 5 0 0 | F ir st N a t . B a n k , F r e m o n t $ 2 7 ,7 6 5 00 2 5 C r o g h a n B a n k , F r e m o n t - 2 7 ,7 5 0 25 2 5 C o lo n ia l B a n k , F r e m o n t . _ 2 7 ,7 2 2 00 0 0 W e ll, R o th & C o ., C ln ___ 2 7 ,7 2 0 0 0 0 0 P r o v .S a v .B k .& T r .C o .,C ln . 2 7 ,7 0 9 00 75 F ift h - T h ir d N a t . 11k., C ln . 2 7 ,7 0 7 00 7 5 W . R . T o d d & C o ., C ln _ . 2 7 ,0 4 1 00 6 0 | P e o p le ’s B k g . C o ., C l y d e . 2 7 ,6 0 0 0 0 0 0 R o b e r t W h i t e , T o w n s ’d T w p . * 5 0 9 .0 0 * F o r $500 b o n d s. Portsmouth School District (P. O. Portsmouth), Scioto County, Ohio.— Bond Sale.— On A u g . 12 a n issu e of $ 1 6 ,0 0 0 San Jacinto High School District (P. O. San Jacinto), Riverside County, Cal.—Bonds Voted.— T h e e le c tio n h eld 4 % C a m p b ell A v e . s c h o o lh o u s e -im p r o v e m e n t b o n d s w as a w a r d e d to th e S e c u r ity S a v in g s B a n k & T r u st C o. of P o r ts m o u th fo r $ 1 6 ,1 9 5 8 0 , th e p r ice th u s b e in g 1 0 1 .2 2 3 . J u ly 31 (V . 8 9 , p . 3 0 4 ) r e s u lte d in fa v o r of th e p r o p o s itio n to is s u e $ 1 5 ,0 0 0 6 lA % b u ild in g b o n d s . T h e v o t e w a s 58 “ fo r ” to 9 “ a g a i n s t .” M a tu r ity $ 5 0 0 y e a r ly fr o m 1910 to 19 3 9 in c lu s iv e . A u t h o r it y S e c tio n 3 9 9 4 , R e v is e d S t a t u t e s . D e n o m in a tio n $ 5 0 0 . D a te A u k . 12 1 9 0 9 . I n t e r e s t s e m i-a n n u a lly a t t h e N a t io n a l B a n k o f P o r t s m o u t h . M a tu r it y o n A u k - 12 a s fo llo w s : $ 4 ,0 0 0 In 1 9 2 4 a n d $ 3 ,0 0 0 y e a r ly fr o m 1 9 2 5 t o 1 9 2 8 ,in c lu s iv e . B o n d s a r e e x e m p t fr o m a ll t a x e s . Prairieville Township (P. O. Sleepy Eye), Minn.—Bond Offering.— P ro p o sa ls w ill b e r e c e iv e d u n til 2 p . m . A u g . 16 b y th e B o a r d o f S u p e r v iso r s for $ 2 ,0 0 0 c o u p o n b rid g e b o n d s . D e n o m in a tio n $ 2 0 0 . D a t e A u k . 16 1 9 0 9 . M a tu r it y S 2 0 0 y e a r ly o n A u k - 16 fr o m 1 9 1 0 t o 19 1 9 I n c lu s iv e . C e r tllle d c h e c k fo r $ 2 0 0 , p a y a b le to t h e “ T o w n o f P r a i r ie v ille ,” Is r e q u ir e d . B o n d e d d e b t , t h is Issu e. A s s e s s e d v a l u a t io n 1 9 0 8 , $ 3 1 9 ,0 0 0 . J . C. H a n s o n Is T o w n C lerk . Preble County (P. O. Eaton), Ohio.—Bond Offering.— P r o p o sa ls w ill b e r e c e iv e d u n til 10 a . m . to - d a y (A u g . 14) b y R . J . P lu m m e r , A u d ito r , fo r $ 3 ,2 1 0 4 % c o u p o n d itc h b on d s. A u t h o r i t y , S e c tio n 4 4 7 9 , R e v is e d S t a t u t e s . D a t e A u k - 14 1 9 0 9 . In ter e s t s e m i- a n n u a l. M a tu r ity p a r t e a c h s ix m o n th s fro m 1 9 1 0 to 1 9 1 4 . B o n d s a r e e x e m p t fr o m t a x e s . C e r tifie d c h e c k fo r $ 2 5 , p a y a b le t o t h e C o u n ty C o m m is s io n e r s , Is r e q u ir e d . Princeton Independent School District (P. O. Princeton), Collin County, Tex.— Bond Offering.— P r o p o sa ls w ill be re c e iv e d u n t il A u g . 21 b y J . L . H ig h s a w , A t t o r n e y , for $ 1 2 ,0 0 0 5 % sc h o o l-b u ild in g b o n d s . A u t h o r it y S e c t io n s 1 5 4 - 1 5 9 , C h a p te r 1 2 4 , G en er a l L a w s . D e n o m in a tio n S500. D a t e A u k . 10 1 9 0 9 . I n t e r e s t a n n u a lly o n A p ril 1 0 a t th e o ffic e o f t h e S t a t e T r e a s u r e r In A u s t in , a t C o llin C o u n ty N a t io n a l B a n k In M c K in n e y , o r a t t h e S e a b o a r d N a t io n a l B a n k In N e w Y o r k , a t t h e o p t io n o f th e’ h o ld cr. M a tu r it y 4 0 y e a r s , s u b j e c t t o c a ll a f te r 2 0 y e a r s . T h e d is tr ic t h a s n o d e b t a t p r e sen t. A s s e s s e d v a l u a t i o n 1 9 0 9 , $ 3 6 1 ,8 2 7 . Randolph School District, Cal.— Description of Bonds.— W e a re a d v is e d t h a t th e $ 6 ,0 0 0 sc h o o l b o n d s a w a rd ed on J u ly 7 to W a k e fie ld , C la rth w aite & C o. o f S a n F ra n cisco a t 1 0 3 .3 3 3 (V . 8 9 , p . 3 0 4 ) a re d a te d J u ly 1 1909 a n d b ear 5 % s e m i-a n n u a l in te r e s t. D e n o m in a tio n $ 6 0 0 . M a tu r ity fr o m J u ly 1 1 9 1 0 to J u ly 1 191 9 in c lu s iv e . Red Wing, Minn.— Bond Offering.— P ro p o sa ls r e c e iv e d u n til S e p t . 3 for $ 3 5 ,0 0 0 4 % b o n d s . w ill be A u th o r ity , v o t e o f 4 5 2 t o 271 a t e le c t io n h e ld A p ril 2 6 . M a tu r ity $ 5 ,0 0 0 in 1928 a n d $ 1 0 ,0 0 0 in e a c h o f t h e y e a r s 1 9 2 9 , 1 9 3 0 a n d 1 9 3 1 . L . C. M e y er Is C it y C lerk . Ridge Township, Van Wert County, Ohio.— Bond Elec tion.— On A u g . 18 th e c itiz e n s w ill v o t e on a $ 2 5 ,0 0 0 b o n d issu e to p r o v id e fu n d s to m a c a d a m a ll u n im p r o v e d h ig h w a y s in th e to w n s h ip o u ts id e o f th e to w n o f V a n W ert. Rochester, Pa. — Bonds Defeated.— T h e v o te r s of th is b o r o u g h r e c e n tly d e fe a te d a p r o p o s itio n to issu e $ 1 0 0 ,0 0 0 bon d s. Rockwood, Roane County, Tenn.— Bond Election.— A n e le c tio n w ill b e h e ld in th is to w n o n A u g . 21 to v o t e o n a p r o p o s itio n to issu e $ 1 2 ,0 0 0 5% 2 0 -y e a r sc h o o l-b u ild in g b on d s. Russellville, Pope County, Ark.— Bond Sale.— A n issu e o f $ 1 8 ,0 0 0 6 % sid e w a lk b o n d s w a s r e c e n tly a w a r d e d to th e S t a t e N a tio n a l B a n k o f L it t le Ito c k . D e n o m in a tio n $ 5 0 0 . D a te A uk- 1 1909. I n t e r e s t s e m i-a n n u a l. RushcreekTownship School District (P. O. Rushsylvania), Logan County, Ohio.— Bond Sale.— O n J u ly 31 a n issu e of $ 2 ,5 0 0 4 J ^ % b u ild in g b o n d s w a s a w a r d e d N a tio n a l B a n k o f C le v e la n d a t 1 0 0 .2 0 . to th e F ir st D e n o m in a t io n $ 5 0 0 . D a te A u g. 2 1909. I n t e r e s t s e m i-a n n u a l. M a t u r it y $ 5 0 0 e a c h s ix m o n th s fr o m A u g . 2 1 9 1 0 t o A u g . 2 1 9 1 2 I n c lu siv e . Salem, Mass.— Temporary Loan.— T h is c it y , it is s ta te d , h a s n e g o t ia t e d a te m p o r a r y lo a n of $ 7 0 ,0 0 0 w ith G eorge M ix ter o f B o s to n a t 3 .1 9 % d is c o u n t. L o a n m a tu r es O ct. 11 1 9 0 9 . Salem, Marion County, Ore.— Bonds Voted.-—A n e le ctio n h e ld h ere A u g . 2 r e s u lte d in fa v o r o f a p r o p o s itio n to issu e $ 6 5 ,0 0 0 refu n d in g b o n d s . Bonds Defeated.— A t th e s a m e e le c tio n (A u g . 2 ) th e v o te r s d e fe a te d a p r o p o sed issu e o f $ 1 7 ,0 0 0 p a rk b o n d s . San Diego County (P. O. San Diego), Cal.— Bonds Voted. — T h e e le c tio n h e ld A u g . 3 r e s u lte d , it is s t a t e d , in fa v o r of th e p r o p o s itio n to issu e th e $ 1 ,2 5 0 ,0 0 0 h ig h w a y -c o n s tr u c tio n b o n d s , m e n tio n o f w h ic h w a s m a d e in V . 8 9 , p . 2 4 3 . Sandusky, Ohio.— Bond Offering.— P ro p o sa ls w ill b e re c e iv e d u n til 12 m . A u g . 23 b y J o se p h L o th J r ., C ity A u d ito r, fo r th e fo llo w in g 4 % b on d s: $ 1 0 ,0 0 0 J a c k s o n A v e n u e I m p r o v e m e n t b o n d s . M a tu r ity $ 1 ,0 0 0 y e a r ly fo r s e v e n y e a r s , t h e n $ 1 ,5 0 0 In e a c h o f t h e fo llo w in g tw o y e a r s . 2 5 ,0 0 0 D e c a t u r S t r e e t i m p r o v e m e n t b o n d s . M a tu r it y $ 2 ,5 0 0 y e a r ly fo r fo u r y e a r s , t h e n $ 3 ,0 0 0 y e a r ly fo r liv e y e a r s . 7 ,0 0 0 A d a m s S t r e e t I m p r o v e m e n t b o n d s . M a tu r it y $ 5 0 0 y e a r ly fo r fo u r y e a r s , t h e n $ 1 ,0 0 0 y e a r ly fo r l iv e y e a r s . D e n o m in a tio n $ 5 0 0 . D a t e J u ly 1 1 9 0 9 . I n t e r e s t s e m i-a n n u a lly a t t h e C ity T r e a s u r e r ’s, o f fic e . B id m u s t b e m a d e o n e a c h is s u e s e p a r a te ly a n d b o a c c o m p a n ie d ' b y a c e r tllle d c e h c k fo r $ 1 ,0 0 0 . S a n J o a q u in C o u n ty ( P . O. S t o c k t o n ) , C a l.— Bond Sale.— T h e $ 2 9 0 ,0 0 0 5% g o ld c o u p o n h ig h w a y b o n d s d e sc r ib ed in V . 8 9 , p . 2 4 3 , w e re a w a r d e d on A u g . 3 , it is s t a t e d , to E . H . R o llin s & S o n s o ft S a n F r a n c isc o a t 1 1 3 .2 8 . S e d r o -W o o lle y , S k a g it C o u n ty , W a s h .— Bond Offering.— P r o p o sa ls w ill b e r e c e iv e d u n t il 8 p . m . A u g . 2 3 b y T . J . M orrow , C ity C lerk , for $ 1 0 ,0 0 0 g o ld fu n d in g b o n d s a t n o t e x c e e d in g 5% in te r e s t. A u th o r ity p a g e 2 6 1 , L aw s o f 1891. D a te S e p t. 1 1909. In ter e st s e m i a n n u a ll y a t t h e b a n k o f C. E . B in g h a m & C o ., o r a t t h e F ir s t N a t io n a l B a n k In S e d r o - W o o lle y . M a tu r ity $ 1 ,0 0 0 y e a r ly o n S e p t . 1 fr o m 19 1 0 t o 1 9 1 9 , I n c lu s iv e . T h e c it y lia s n o d e b t a t p r e s e n t. A s s e s s e d v a lu e 1 9 0 8 , $ 5 3 4 ,6 7 6 . S e n e c a F a lls , S e n e c a C o u n ty , N . Y .— Bond Offering.— F u r th e r d e ta ils are a t h a n d r e la tiv e to th e o ffer in g o n A u g . 2 0 o f th e $ 2 4 0 ,0 0 0 c o u p o n or r eg iste re d w a te r -w o r k s c o n str u c tio n b o n d s m e n tio n e d in V . 8 9 , p . 3 6 6 . P r o p o sa ls w ill b e r e c e iv e d u n til 7 p . m . on th a t d a y b y J o h n M. G u io n , V illa g e C lerk . D e n o m in a tio n $ 1 ,0 0 0 . D a t e O c t. 1 1 9 0 9 . I n t e r e s t (r a te n o t t o e x c e e d 5 % ) p a y a b le o n J a n . 1 a n d J u ly 1 In S e n e c a F a lls o r In N e w Y o r k C ity . M a tu r it y $ 1 0 ,0 0 0 y e a r ly o n O c t. 1 fr o m 1914 to 1 9 3 7 , I n c lu s iv e . C e r tllle d c h e c k o n a t r u s t c o m p a n y , n a t io n a l o r S t a t e b a n k fo r 2% o f t h e b o n d s b id fo r , p a y a b le t o t h e V illa g e T r e a s u r e r , Is r e q u ir e d . P u rch a ser to p a y a c c r u e d In te r e s t. S h e lb y S c h o o l D is t r ic t (P . O. S h e lb y ) , P o lk C o u n ty , N e b . $ 8 ,0 0 0 4 )^ % s c h o o l-b u ild in g b o n d s offered on A u g . 2 (V . 8 9 , p . 6 4 ) w e re p u r c h a s e d o n A u g . 5 b y th e S t a t e of N e b r a sk a a t p ar. —Bond Sale.— T h e D a te J a n . 1 1909. I n t e r e s t s e m i-a n n u a l. j e c t t o c a ll a f te r J u ly 1 1 9 1 4 . M a tu r it y J a n . 1 1 9 2 5 , s u b S h e r w o o d , D e fia n c e C o u n ty , O h io .— Bonds Not Sold .— N o b id s w ere r e c e iv e d o n A u g u s t 10 for th e $ 4 ,0 0 0 4 y2% e le c tr ic -lig h t b o n d s d e sc r ib ed in V. 8 9 , p . 3 6 6 . S h o s h o n i, F r e m o n t C o u n ty , W y o .— Bond Sale.— T h e $ 4 0 , 0 0 0 6% 1 5 -3 0 -y ea r (o p tio n a l) c o u p o n w a te r -w o r k s b o n d s d e sc r ib ed in V . 8 9 , p . 2 4 4 , w e re a w a r d e d on A u g . 2 to J . H . C a u se y & C o. of D e n v e r a t p ar a n d a c c r u e d in te r e s t. B id s w e re a lso r e c e iv e d fr o m S . A . K e a n & C o. a n d J . I I . S o n n ta g , b o th o f C h ica g o . S o m e r v ille , M id d le s e x C o u n ty , M a s s .— Temporary Loan.— O n A u g . 9 a $ 2 0 0 ,0 0 0 lo a n d u e M ay 3 1910 w a s n e g o tia te d w it h B la k e B r o s. & C o. of B o s to n a t a d is c o u n t of 3 .6 1 % . S o u th C a n o n sb u r g ( P . O. C a n o n s b u r g ), P a .— Bonds De feated.—-At a n e le c tio n h e ld J u ly 31 th e v o te r s of th is b o r o u g h d e fe a te d a p r o p o sitio n to issu e $ 3 0 ,0 0 0 b o n d s . T h e v o t e w a s 3 5 “ fo r ” to 102 “ a g a i n s t .” S o u th S h a ro n , M ercer C o u n ty , P a .— Bond Sale.— T h e $ 6 0 ,0 0 0 im p r o v e m e n t b o n d s r e c e n tly v o te d (V . 8 9 , p . 6 4 ) h a v e b een so ld to L a w r e n c e B a r n u m <k C o. o f P h ila d e lp h ia . S p ir o , L e F lo r e C o u n ty , O k la .— Bond Offering.— P ro p o sa ls w ill b e r ec eiv e d u n til 8 p . m . A u g . 26 b y J . I t. R e d w in e fo r $ 5 0 ,0 0 0 6% c o u p o n w a te r a n d lig h t b o n d s . D e n o m in a tio n $ 1 ,0 0 0 . D a te J u ly 1 1909. I n t e r e s t s e m i-a n n u a lly a t t h e F ir s t N a t io n a l B a n k In S p ir o . M a tu r ity J u n e 3 0 1 9 3 4 . C e r tifie d c h e c k fo r $ 1 ,0 0 0 , p a y a b le to J . R . R e d w in e , is r e q u ir e d . T h e t o w n h a s n o d e b t a t p r e sen t. A s s e s s e d v a lu a t io n $ 3 0 0 , 0 0 0 . S p o k a n e , W a s h .— Bond Offering.— P r o p o sa ls w ill b e re c e iv e d u n til 1 1 a . m . S e p t . 15 b y th e S in k in g F u n d C om m issio n a t th e o ffic e o f R o b e r t F a ir le y , C ity C o m p tro ller, for $ 5 0 0 ,0 0 0 w a te r -e x te n s io n a n d $ 5 0 0 ,0 0 0 b r id g e -c o n str u c tio n a n d rep air 4 % g o ld c o u p o n b o n d s v o t e d o n M ay 4 19 0 9 . V . 8 8 , p . 127 2 . D e n o m in a tio n $ 1 ,0 0 0 . D a te J u ly 1 1909. I n t e r e s t s e m i-a n n u a lly a t t h e fisc a l a g e n c y o f th e S t a t e o f W a s h in g to n In N e w Y o r k C it y . M a tu r ity 25 yea rs. C e r tllle d c h e c k fo r 2 % o f b id Is r e q u ir e d . O ffic ia l c ir c u la r s t a t e s t h a t t h e c it y h a s n e v e r h a d a n y c o n t r o v e r s y o r lit ig a t io n In th e m a tt e r of t h e s a le o r p a y m e n t o f Its b o n d s: a ls o t h a t th e r e h a s n e v e r b e e n a n y d e f a u lt In t h e p a y m e n t o f i n t e r e s t or p r in c ip a l. Official notices of this bond offering will be found among the advertisements elsewhere in this Department. S p r in g fie ld , O h io .— Bond Sale.— O n A u g u s t 10 th e s ix issu e s o f 5% c o u p o n a s s e s s m e n t b o n d s , a g g r e g a tin g $ 8 ,1 2 3 6 5 , d e s c r ib e d in V . 8 9 , p . 3 6 6 , w ere a w a r d e d to th e A m erica n T r u s t cfc S a v in g s C o. o f S p rin g fie ld for $ 8 ,1 3 3 65 (1 0 0 .1 2 3 ) a n d a c cr u e d in te r e s t. Stanton Independent School District (P. O. Stanton), Martin County, Texas. —Bond Sale .— W e a r e a d v is e d th a t th e $ 1 5 ,0 0 0 5% 1 5 -4 0 -y e a r (o p tio n a l) s c h o o l-h o u s e b o n d s r eg iste re d b y th e S t a t e C o m p tro ller o n J u n e 16 (V . 8 8 , p . 16 4 0 ) h a v e b een so ld . Steubenville, Jefferson County, Ohio .— B o n d O f f e r i n g .—• P r o p o sa ls w ill be r e c e iv e d until 12 in. A u g . 17 b y F ra n k S . K in g , A u d ito r , fo r th e fo llo w in g 4 )A% b o n d s m e n tio n e d in J 1 2 .0 0 0 s tr e e t - im p r o v e m e n t ( c i t y ’s p o r tio n ) b o n d s . A u t h o r it y . S e c t io n 5 3 . M u n ic ip a l C o d e . M a tu r ity o n o r b e fo r e M a r ch 1 1 9 2 0 . 14 0 0 0 R ld ire A v e n u e p a v e m e n t a s s e s s m e n t b o n d s . A u t h o r it y , S e c t i o n 9 5 , 1 4 'UU M u n ic ip a l C o d e . M a tu r ity S e p t . 1 1 9 2 0 . s u b j e c t t o c a ll a f te r i t o o o E u c lid ii.u u o A v en u e p a v e m en t a ssessm e n t b o n d s. A u t h o r it y , S o c M u n ic ip a l C o d e . M a tu r it y S e p t . 1 1 9 2 0 , s u b j e c t t o c a ll 15 0 0 0 L a w s o n A v e n u e fu n d a s s e s s m e n t b o n d s , A u t h o r it y , S e c tio n 9 5 , lo.OOO ^ au^ ° , np a i c 0 ( le . M a tu r ity S e p t . 1 1 9 2 0 , s u b j e c t t o c a ll a f te r D e n o m in a tio n sVoV." D a t e S e p t . 1 1 9 0 9 . I n t e r e s t s e m i-a n n u a l. C e r ti fie d c h e c k fo r 3% o f b o n d s b id fo r , p a y a b le t o t h e C ity T r e a s u r e r , Is r e q u ir e d . P u r c h a s e r t o p a y a c c r u e d I n te r e s t. Struthers, Mahoning County, Ohio.—Bond Offering.— P ro p o sa ls w ill b e r e c e iv e d u n t il 12 m . S e p t . 1 b y L . S . C reed , V illa g e C lerk , fo r $ 5 ,0 0 0 5 % s e w e r -c o n s tr u c tio n b o n d s . A u t h o r i t y S e c tio n 2 8 3 5 , R e v i s e d S t a t u t e s . D e n o m in a tio n $ 5 0 0 . D a te S e p t 15 1 9 0 9 . I n t e r e s t s e m i- a n n u a l. M a tu r ity t w e lv e y e a r s . C e r tifie d c h e c k o n a b a n k In t h e c o u n t y fo r 10% o f a m o u n t o f b o n d s b id fo r , p a y a b le t o t h e V illa g e T r e a s u r e r , Is r e q u ir e d . P u r c h a s e r t o p a y a c c r u e d In te r e s t. Tallulah, Madison Parish, La. —Bond Sale .— A c c o r d in g to r ep o rts, a n issu e o f $ 1 0 ,0 0 0 b o n d s h a s b e e n a w a r d e d , $ 5 ,0 0 0 to th e T a llu la h S t a t e B a n k a n d $ 5 ,0 0 0 to G . W . W h e e l ess o f P o r t G ib so n , M iss', b o th o f w h o m b id p a r. Tarboro School District (P. 0 . Tarboro), Edgecombe County, N. C.—Bond Offering.— P r o p o sa ls w ill b e r e c e iv e d u n til 12 m . A u g . 10 b y G eo . H o w a r d , C h a irm a n S c h o o l B o a r d , for $ 3 5 ,0 0 0 4 j ^ % c o u p o n s c h o o l-b u ild in g b o n d s . D e n o m in a tio n $ 1 ,0 0 0 . D a t e A p ril 1 1 9 0 9 . I n t e r e s t s e m i- a n n u a lly In N e w Y o r k C it y . M a tu r it y A p ril 1 1 9 3 9 . C e r tifie d c h e c k (or c a sh ) fo r 3% o f b id , p a y a b le t o t h e C h a ir m a n S c h o o l B o a r d , Is r e q u ir e d . T h is d is t r ic t h a s n o d e b t a t p r e s e n t. A s s e s s e d v a l u a t i o n fo r 1 9 0 8 , $ 2 ,5 0 0 ,0 0 0 . Temple, Bell County, Texas. —Bond Offering.— F u r th e r d e ta ils a re at h a n d c o n c e r n in g t h e o fferin g o n A u g , 2 4 o f th e $ 1 0 0 ,0 0 0 5 % 2 0 -4 0 -y e a r ( o p tio n a l) c o u p o n w a te r -w o r k sim p r o v e m e n t b o n d s m e n tio n e d in V . 8 9 , p . 3 0 5 . P r o p o sa ls w ill b e r e c e iv e d u n til 8 :3 0 p . m . o n th a t d a y b y M. O . W o o d w a r d , C ity S e c r e ta r y . D e n o m in a tio n $ 1 ,0 0 0 . D a te A u g. 1 1909. I n t e r e s t s e m i- a n n u a lly a t t h e F o u r t h N a t i o n a l B a n k In N e w Y o r k C it y . B o n d s a r e e x e m p t fr o m ta x a tio n . Thomas, Tucker County, W. Va. —Bond Sale .— T h e $ 2 0 , 0 0 0 5 % 1 0 -2 0 -y e a r (o p tio n a l) c o u p o n p a v in g b o n d s offered o n J u n e 2 6 (V . 8 8 , p . 1391) w e re s o ld a t p a r o n J u ly 7 to t h e M iners' & M e r c h a n ts’ B a n k o f T h o m a s . NEW LOANS. 8 5 0 ,0 0 0 C IT Y OF G LEN S FA LLS, N.Y. WATER BONDS P u r s u a n t t o a r e s o lu t io n d u ly a d o p t e d b y t h e B o a r d o f W a t e r C o m m is s io n e r s o f t h e C it y o f G le n s F a lls * N . Y . . a t a m e e t in g o f s a id B o a r d h e ld o n t h e 6 t h d a y o f A u g u s t, 1 9 0 9 , n o t ic e Is h e r e b y g i v e n t h a t s c a le d p r o p o s a ls fo r t h e p u r c h a s e o f t h e b o n d s h e r e in a fte r d e s c r ib e d w ill b e r e c e iv e d b y t h e u n d e r s ig n e d C it y C lerk a t h is o ffic e In t h e C it y H a ll o f s a id C ity u n t il e ig h t o 'c lo c k P . M . o n t h e 3 0 t h d a y o f A u g u s t, 1 9 0 9 , a t w h ic h t im e a n d p la c e t h e b id s w ill b e o p e n e d . T h e b o n d s t o b e s o ld a r e f if t y c o u p o n w a te r b o n d s o f o n e t h o u s a n d d o lla r s e a c h , b e a r in g d a t e t h e 1 s t d a y o f J u ly , 1 9 0 9 , a n d b e a r in g I n te r e s t a t t h e r a te o f fo u r a n d o n e - h a lf per c e n t per a n n u m , p a y a b le s e m i-a n n u a lly o n t h e first d a y s o f J a n u a r y a n d J u ly In e a c h y e a r u n t il m a t u r it y . T e n o f s u c h b o n d s w ill b e c o m e d u e o n J u ly 1, 1 9 1 6 ; t e n o n - J u ly 1, 1917; t e n o n J u ly 1 , 1918; t e n o n J u ly 1, 1 9 1 9 , a n d t e n o n J u ly 1 . 1920; I n te r e s t a n d p r in c ip a l p a y a b le a t t h e o ffic e o f t h e C ity C h a m b e r la in o f s a id C it y . ,. , , , . , S u c h b o n d s a r e t o b e p a id , p r in c ip a l a n d I n te r e s t , o u t o f t h e m o n e y s r e o c lv e d fr o m t im e t o tim e fo r w a t e r r e n ts , a n d n o t b y t a x a t io n u p o n t h e t a x p a y e r s o f t h e C ity ; a s a m p le c o p y o f th e p r o p o s e d b o n d s , a n d c o p y o f t h e p r o c e e d in g s t a k e n t o a u t h o r iz e t h e I s su in g o f t h e b o n d s , c a n b e o b ta in e d b y a p p lic a t io n t o t h e u n d e r s ig n e d . N o b id w ill b e e n t e r t a in e d u n le s s m a d e u p o n a fo r m a p p r o v e d b y s a id B o a r d o f W a t e r C o m m is s io n e r s , b la n k c o p ie s o f w h ic h c a n b e o b t a in e d fr o m t h e u n d e r s ig n e d ; a n d t h e s a id B o a r d o f W a te r C o m m is s io n e r s r e s e r v e s t h e r ig h t t o r e je c t a n y o r a ll b id e . N o b id w ill b e e n t e r t a in e d w h ic h Is fo r le s s t h a n p a r a a d a c c r u e d I n te r e s t. D a te d . A u g u st 9 th , 19 0 9 . A. S . R U G G E , C it y C lerk . BLACKSTAFF & CO. IN V E S T M E N T S 1332 Walnut Street PHILADELPHIA LIST OF SPECIALTIES ON REQUEST Bank and Trust Company Stocks Topeka, Kan.— Bond Sale.— O n A u g u s t 9 $ 1 6 5 ,0 0 0 4 j^ % p a v in g b o n d s w e re d isp o se d o f to “ lo ca l in v e s t o r s ” a t p a r a n d a c c r u e d in te r e s t. D enom ination $500. D ate J u ly 1 1909. In te re st sem i-annual. tu rity on e -te n th y early on J u ly 1 from 1910 to 1919 Inclusive. 1 -1 0 -y e a r (se ria l) b o n d s a w a r d e d o n A u g . 6 to th e M anu fa c tu r e r s ’ N a tio n a l B a n k o f T r o y a t p a r (V . 8 9 , p . 3 6 6 ) a re issu e d fo r t h e p u r c h a se o f a p o lic e s t a t io n h o u s e . T h e y a re d a te d A u g . 1 1909 a n d b e a r s e m i-a n n u a l in te r e s t. N o o th e r b id s w e re r e c e iv e d for th e is s u e . Tuckahoe, N. Y. — Bids.— T h e fo llo w in g b id s w e re r e c e iv e d o n A u g u s t 4 for th e $ 1 0 ,0 0 0 5 -2 4 -y e a r (se ria l) r eg iste re d h ig h w a y b o n d s , th e a w a r d of w h ic h w a s r ep o rte d in^V . 8 9 , p . 366: G e o . M . H a h n , N e w Y o r k — 1 0 0 .0 8 5 fo r 4 .2 0 s . A d a m s & C o ., N e w Y o r k — 1 0 0 .0 7 5 6 fo r 4 .2 0 s . R u d o lp h K le y b o l t e & C o ., N e w Y o r k — 1 0 0 .2 0 fo r 4 .2 5 s . D o u g la s , F e n w ic k & C o ., N e w Y o r k — 1 0 0 .1 7 fo r 4 .3 0 s . I s a a c W . S h e r r ill, P o u g h k e e p s ie — 1 0 0 .1 0 fo r 4 .3 0 s . R . M . G r a n t & C o ., N e w Y o r k — 1 0 0 .0 7 fo r 4 .3 0 s . N . W . H a rris & Co., New Y ork— 100.08 for 4.45s. Tye Independent School District (P. O. Tye), Taylor County, Texas.—Bonds Registered.— O n A u g u s t 2 th e S t a t e C o m p tro ller r e g iste r e d a n is s u e o f $ 5 ,0 0 0 5% 1 5 -2 0 -y ea r (o p tio n a l) b o n d s . U tah. — Bonds Authorized.— A n A c t p a s se d b y th e 1909 L e g is la tu r e , a p p r o v e d M arch 1 1 , p r o v id e s for th e issu a n c e o f $ 2 0 0 ,0 0 0 2 0 -y e a r c o u p o n S t a t e C a p ito l b u ild in g b o n d s . I n t e r e s t J a n u a r y a n d J u ly . Valley, Douglas County, Neb.—Bonds Voted.—Bond Offer ing.— T h is p la c e o n A u g . 2 fa v o r a b ly v o t e d to issu e $ 1 2 ,0 0 0 w a te r a n d $ 5 ,0 0 0 e le c tr ic -lig h t 5 % b o n d s . T h e v o t e p o lled w a s 115 to 2 2 . P r o p o sa ls a re n o w a sk e d for t h e s e b o n d s u n til 8 p . m . A u g . 2 4 . I n te r e s t p a y a b le s e m i-a n n u a lly . M a tu r ity t w e n t y y e a r s , s u b je c t to ca ll a fte r fiv e y e a r s . Venango County (P. O. Franklin), Pa.—Bonds to be Issued Shortly.— A c co r d in g to lo ca l p a p er s, th is c o u n t y w ill so o n a d v e r tis e fo r b id s for $ 8 5 ,0 0 0 4 % b r id g e -b u ild in g b o n d s . Waltham, Middlesex County, Mass.— Temporary Loan.— A te m p o r a r y lo a n o f $ 3 0 ,0 0 0 w a s r e c e n tly n e g o tia te d w ith B la k e B r o s. & C o. o f B o s to n a t a d is c o u n t o f 3 .7 5 % . L o a n m a tu r e s N o v . 5 1 9 0 9 . NEW LOANS. 8 5 0 0 ,0 0 0 25-Year 4 % Bridge Construction & Repair Bonds S e a le d p r o p o s a ls w ill b e r e c e iv e d b y t h e S in k in g F u n d C o m m is s io n o f t h e C ity o f S p o k a n e , W a s h ln g t o n , a t t h e o ffic e o f t h e C it y C o m p tr o lle r o f s a id c it y , u p t o 1 1 o 'c lo c k a . m . o f th e 1 5 th d a y o f S e p t e m b e r , 1 9 0 9 , fo r t h e p u r c h a s e o f aU o r a n y p o r t io n o f a $ 5 0 0 ,0 0 0 b o n d Issu e o f s a id c it y . S a id b o n d s a r e Issu ed b y s a id c i t y fo r t h e p u r p o s e o f p a y in g o il o u t s t a n d in g w a r r a n t s Issu ed a g a in s t t h e W a t e r E x t e n s io n F u n d a n d c o n s tr u c t in g a f o r c e m a in t o b e u s e d In t h e g e n e r a l w a te r s y s t e m , a n d b e a r d a t e o f J u ly 1 , 1 9 0 9 , p a y a b le 2 5 y e a r s a f te r s a id d a t e , a n d b e a r I n te r e s t a t t h e r a te o f 4% a n n u a lly , p a y a b le s e m i-a n n u a lly a t t h e fisc a l a g e n c y o f t h e S t a t e o f W a s h in g to n In N e w Y o r k C it y . , , . . S a id C o m m is s io n r e se r v e s t h e r ig h t t o r e je c t a n y a n d a ll b id s , a n d e a c h o lfc r m u s t b e a c c o m p a n ie d w it h a c e r tifie d c h e c k fo r 2% o f t h e a m o u n t o f t h e b id , a n d m u s t b e fo r a t l e a s t p a r a n d a c c r u e d I n te r e s t. R O B E R T F A IR L E Y , C it y C o m p tr o lle r . S e a le d p r o p o s a ls w ill b e r e c e iv e d b y t h e S in k in g F u n d C o m m is s io n o f t h e C ity o f S p o k a n e , W a s h i n g to n , a t t h e o ffic e o f t h e C ity C o m p tr o lle r , o f s a id c it y , u p t o 1 1 O ’c lo c k A. M. of (he 15th Day S e p t e m b e r , 1909, fo r t h e p u r c h a s e o f a ll o r a n y p o r tio n o f a $ 5 0 0 ,0 0 0 b o n d Issu e o f s a id c i t y . S a id b o n d s a r e Issu ed b y t h e s a id c i t y t o p a y fo r t h e c o n s tr u c t io n a n d r e p a ir o f b r id g e s a c r o ss t h e S p o k a n e R iv e r , a n d b e a r d a t e o f J u l y 1 , 1 9 0 9 , a n d p a y a b le 2 5 y e a r s a f te r s a id d a t e , a n d d r a w I n te r e s t a t t h e r a te o f 4 % a n n u a lly , p a y a b le s e m i a n n u a lly a t t h e fisc a l a g e n c y o f t h e S ta te X p f W a s h in g to n In N o w Y o r k C it y . S a id C o m m is s io n r e s e r v e s t h e r ig h t t o r e je c t a n y a n d a ll b id s , a n d e a c h o ffe r m u s t b e a c c o m p a n ie d b y a c e r tifie d c e h c k fo r 2 % o f t h e a m o u n t o f t h e b id , a n d m u s t b e fo r a t le a s t p a r a n d a ccru ed In terest. '"•« R O B E R T F A IR L E Y . ■ C it y C o m p tr o lle r . NewMexico Bonds-Holders’ Notice T. W. STEPHENS & 00. PR O V ISIO NA L IN D EB TED N ESS BONDS D ated Septem ber 1, 1889 90VTHCKN In vestm en t Secu r ities . J&ON jW O M JE R T , A L A . Bonds N o t ic e Is h e r e b y g iv e n t o t h e h o ld e r s o f t h e f o llo w in g - d e s c r ib e d b o n d s t h a t a ll o f t b e s a m e h a v e b e e n a n d a r c h e r e b y c a lle d fo r r e d e m p tio n o n S e p t e m b e r 1 , 1 9 0 9 , a n d w ill b e c a s h e d a n d r e d e e m e d o n p r e s e n ta t io n t h e r e o f a t t h e N a t io n a l B a n k o f C o m m e r c e , N e w Y o r k C it y , s u c h b o n d s Investment $93°,000 0 0 0 % ( b e in g a ll o u t s ta n d in g ) P r o v is io n a l In d e b te d n e ss B on d s, d a ted S ep t e m b e r 1 , 1 8 8 9 , d u e S e p t e m b e r 1, 1 9 1 9 , o p t io n a l S p e t e m b e r 1 , 1 9 0 9 , s a m e b e in g n u m b e r s 1 t o 6 0 a n d 6 8 t o 1 0 0 (In c lu s iv e In e a c h c a s e ) , o f $ 1 ,0 0 0 0 0 e a c h . A ll s u c h b o n d s c e a s e t o d r a w I n t e r e s t fr o m a n d a fte r S e p te m b e r 1 , 1 9 0 9 . D a t e d a t S a n t a F e , N o w M e x ic o , J u l y S ls t.lB O B . M. A. O TERO. T r e a s u r e r o f t h e T e r r it o r y o f N e w M e x ic o . A p p r o v e d :— G E O R G E C U R R Y , G o v e r n o r o f t h e T e r r ito r y o f N e w M e x ic o . 2 WALL STREET, NEW YORK. Charles M. Smith & Co. C O R P O R A T IO N A N D B, W . Strassburger 8 5 0 0 ,0 0 0 25-Year 4% Water Extension Bonds b o u o h t a n d so ld 2 WALL ST.. NEW YORK. NEW LOANS. C IT Y OF SPOKANE C IT Y OF SPOKANE NEW YORK AND BROOKLYN CLINTON GILBERT, Ma Troy, N. Y . — Description of Bonds.— T h e $ 1 5 ,5 0 0 4 % M U N IC IP A L BONDS McCOY & C O M PA N Y Formerly MacDonald. MoOoy & Co. „ L2 . Municipal and Corporation Bonds 181 La Salle Street, - Chicago H . C. Speer & Sons Co. OFFER OKLAHOM A S C H O O L BONDS to n e t « % t o FIRST NATIONAL BANK BUILDING F irst National Bank CHICAGO SH% Chicago Washington, Daviess County, Ind. — Bond, Sale.— A n i s s u e o f $ 4 ,0 0 0 p a rk b o n d s w a s so ld r e c e n tly to T h o m a s W in t e r b o t t o m o f W a s h in g to n . D . P o lla r d , C h a irm a n F in a n c e C o m m itte e , fo r $ 1 0 0 ,0 0 0 4% c o u p o n fu n d in g b o n d s . D e n o m in a tio n $ 1 ,0 0 0 . D a te A u g. 1 1909. I n t e r e s t s e m i- a n n u a lly a t t h e C it y T r e a s u r e r ’s o f fic e . M a tu r it y A u g . 1 1 9 3 4 . C e r tifie d c h e c k o n a n a t io n a l b a n k o r t r u s t c o m p a n y fo r $ 5 0 0 , p a y a b le t o t h e C ity T r e a s u r e r , is r e q u ir e d . T h e s e b o n d s w ill b e c e r tifie d a s t o t h e ir g e n u in e n e s s b y t h e C ity T r u s t C o m p a n y o f B o s t o n , w h o w ill f u r th e r c e r t if y t h a t t h e Issu e lia s b e e n a p p r o v e d b y S t o r e y , T h o r n d ik e , P a lm e r & T h a y e r o f B o s t o n . B onds w ill b e r e a d y fo r d e liv e r y s o o n a f t e r A u g . 1 0 1 9 0 9 . Washington County (P. O. Stillwater), Minn.— Bond Sale. — A n is s u e o f $ 2 0 ,0 0 0 5% d itc h b o n d s w a s a w a rd ed on A u g u s t 2 to th e F ir s t N a tio n a l B a n k a n d th e L u m b er m e n ’s N a t io n a l B a n k o f S tillw a te r a t p a r . D e n o m i n a t i o n $ 1 ,0 0 0 . D a te M a tu r it y o n e t o t e n y e a r s . Wellington, Lorain A u gu st 1 1909. In terest s e m i-a n n u a l. County, Ohio.— Bond Offerings.— P r o p o s a ls w ill b e r e c e iv e d u n til 12 m . A u g u s t 16 b y th e V illa g e C lerk , fo r $ 2 ,5 0 0 5% w a te r -m a in e x te n s io n b o n d s. D e n o m in a t io n $ 5 0 0 . D a te S e p t. 15 1 9 0 9 . I n t e r e s t s e m i-a n n u a l. M a t u r it y $ 1 ,0 0 0 o n S e p t . 15 in e a c h o f t h e y e a r s 1911 a n d 1 9 1 2 a n d $ 5 0 0 o n S e p t . 15 1 9 1 3 . C e r tifie d c h e c k fo r 5% o f a m o u n t o f b o n d s b id fo r , p a y a b l e t o t h e V illa g e T r e a s u r e r , is r e q u ir e d . P u r c h a s e r t o p a y a c c r u e d In terest. P r o p o s a ls w ill a lso b e r e c e iv e d u n til 12 m . A u g u s t 21 b y J . B . M u rra y , V illa g e C lerk , for $ 1 0 ,0 0 0 5% N o r th M ain S tr e e t im p r o v e m e n t b o n d s . D e n o m in a t io n $ 1 ,0 0 0 . I n t e r e s t s e m i- a n n u a l. M a tu r it y $ 1 ,0 0 0 v e a r lv o n S e p t . 10 fr o m 1911 to 1 9 2 0 in c lu s iv e . C e r tifie d c h e c k fo r 5% o f a m o u n t o f b o n d s b id fo r , p a y a b l e t o t h e V illa g e T r e a s u r e r , is r e q u ire d P ur c h a s e r s t o p a y a c c r u e d in te r e s t. y Westchester County (P. O. White Plains), N. Y .—Bond Offering.— P r o p o sa ls w ill b e r e c e iv e d u n t il 2 p . m . A u g . 50 b y G eo . T . B u r lin g , C o u n ty T rea su rer, for $ 7 0 ,0 0 0 4% regis te r e d A lm s h o u s e -e x te n s io n b o n d s . D e n o m in a tio n $ 1 ,0 0 0 . D a te S e p t. 1 1909. I n t e r e s t s e m l-a n n u a llv a t t h e C o u n ty T r e a s u r e r ’s o f fic e . M a tu r ity $ 1 0 ,0 0 0 y e a r ly o n S e p t l fro m 1 9 3 4 t o 1 9 4 0 in c lu s iv e . C e r tifie d c h e c k o n a n a t io n a l o r S t a te b a n k o r t r u s t c o m p a n y fo r 5% o f b o n d s b id fo r is r e q u ir e d . B o n d s w ill be c e r tifie d a s t o t h e ir g e n u i n e n e s s b y t h e U n it e d S t a t e s M o r tg a g e & T r u s t Co o f N e w Y o rk C ity . T h e iss u e w ill b e r e a d y fo r d e liv e r y S e p t . 15. P u r c h a se r to p a y a c c r u e d in te r e s t. B id s t o b e m a d e o n b la n k fo r m s fu r n is h e d b v t h e co u n ty . J Wharton School District (P. O. W harton), Tex._Bond Offering .— T h is d is tr ic t is o fferin g fo r s a le $ 1 2 ,0 0 0 b o n d s . I . L . C a n d ler is S u p e r in te n d e n t o f S c h o o ls . White Plains, Westchester County, N. Y .— Bond Sale.__ T h e $ 2 5 ,0 0 0 fire-h o u se b o n d s o ffered o n A u g . 9 (V . 8 9 , p . 30 6 ) w e r e a w a r d e d on th a t d a y to R u d o lp h K le y b o lt e & (j0 . of N e w Y o r k C ity a t 1 0 0 .1 8 8 fo r 4 .1 5 s . Willimantic, Windham County, Conn.— Bond Offering.__ P r o p o sa ls w ill b e r e c e iv e d u n til 4 p . m . A u g . 16 b y H er b e rt Y o u n g s t o w n , O h io .—Bond Sale .— T h e f o llo w in g b id s w ere r e c e iv e d on A u g . 9 fo r th e t w e lv e is s u e s o f 5 % b o n d s d e sc r ib ed in V . 8 9 , p . 3 6 8 . T h e p u r c h a s e r s a r e d e s ig n a te d b y m e a n s of a n a s te r is k (*): Issu e s— B id N o . 1. B i d .N o .2. B id . N o . 3. B id . N o . 4. B id . N o . s e w e r ______* $ 4 4 5 _______ s e w e r ______ 1 ,4 6 5 * $ 1 ,4 8 0 p a v i n g ____ 7 ,3 5 6 ____ $ 7 ,3 4 0 * $ 7 ,3 6 8 5 0 $ 7 ,3 4 8 p a v i n g ______* 1 ,2 0 0 ............... p a v i n g _____ 5 ,8 4 9 _______ 5 ,8 3 7 * 5 ,8 5 0 0 0 5 ,8 4 2 p a v i n g _______ 0 ,8 1 4 _______ * 6 ,8 2 6 10 6 ,8 0 0 6 ,8 0 7 p a v i n g _____ 6 ,2 9 9 ___ __ * 6 ,3 0 9 3 0 6 ,2 8 5 6 ,2 9 1 p a v i n g ______* 2 ,3 9 2 _______ 2 ,3 8 0 p a v i n g ______ * 1 ,9 6 2 _______ 1 ,9 5 4 s e w e r _______ * 2 ,0 0 2 _______ 1 ,9 9 4 p a v i n g ______2 1 ,1 7 8 _______ * 2 1 ,2 2 5 6 0 2 1 ,1 2 4 2 1 ,1 7 0 s e w e r _______ * 6 5 5 _______ Is su e s — B id . N o . 6 . B id N o . 7 . B i d . N o . 8 . B id . N O . 9. $ 4 4 5 s e w e r ________ _______ __ 1 .4 6 5 s e w e r ________ _______ 7 .2 0 0 p a v i n g . .............$ 7 ,3 3 7 52 $ 7 ,3 1 3 00 $ 7 ,3 1 2 4 5 1 .2 0 0 p a v i n g _______ _______ 5 ,8 1 4 83 5 .7 2 5 p a v i n g _______ 5 ,8 3 4 35 6 .6 7 0 p a v i n g _______ 6 ,7 9 7 5 0 0 ,7 7 4 72 0 ,7 7 2 7 5 6 .1 6 5 p a v i n g _______ 0 ,2 8 2 7 5 0 ,2 6 1 7 9 6 ,2 5 8 4 0 2 .3 7 5 p a v in g .............. ............... 1 .9 5 0 p a v i n g _______ _______ 1 .9 9 0 s e w e r _____ _____________ 2 0 .7 2 0 p a v i n g ............... 2 1 ,1 5 0 7 5 2 1 ,1 4 8 9 0 2 1 ,1 3 9 55 $ 2 1 ,1 4 4 35 6 5 5 s e w e r ________ _______ A ll b id d e r s o ffe r e d a c c r u e d I n te r e s t In a d d it io n t o t h e ir b id s . B id d e r N o 1 w a s H a y d e n , M iller & C o ., C le v e la n d ; N o . 2 , D o lla r S a v in g s & T r u s t Co Y o u n g s to w n ; N o . 3 , C. 13. D e n is o n C o ., C le v e la n d : N o . 4, O tis & l l o u g l i ’ C le v e la n d ; N o . 5 , F ir s t N a t io n a l B a n k , C le v e la n d ; N o . 6 , P r o v id e n t S a v ! B k . & T r . C o ., C in c in n a ti; N o . 7 . S e a s o n g o o d A M a y e r , C in c in n a ti; N o . 8 W e ll, R o t h & C o ., C in c in n a t i, a n d N o . 9 , B r e e d & H a r r is o n o f C in c in n a t i. ’ $445 1 .4 6 5 7 .2 0 0 1 .2 0 0 5 .7 2 5 6 .6 7 0 6 .1 6 5 2 .3 7 5 1 .9 5 0 1 .9 9 0 2 0 .7 2 0 655 Bond Offering.— P r o p o sa ls w ill b e r e c e iv e d u n til 2 p. m . S e p t . 13 b y W m . J . D a v ie s , C ity A u d ito r , for th e fo llo w in g 5 % str e e t-im p r o v e m e n t b on d s: $ 1 1 0 ,0 0 0 C h e s t n u t S t r e e t e x t e n s io n b o n d s . M a tu r it y $ 1 0 ,0 0 0 y e a r ly o n O c t. 1 fr o m 1911 to 1921 I n c lu s iv e . 1 0 ,1 1 0 H lm r o d A v e . p a v i n g N o . 2 b o n d s . M a tu r it y $ 2 ,0 2 2 y e a r ly on O c t. 1 fr o m 1911 t o 1 9 1 5 in c lu s iv e . 5 ,8 1 0 E a s t M a d iso n A v e . p a v in g b o n d s . M a tu r it y $ 1 ,1 6 2 y e a r ly o n O c t. 1 fr o m 19 1 1 t o 1 9 1 5 I n c lu s iv e . NEW LOANS. NEW LOANS. NEW LOANS. $ 4 0 0 ,0 0 0 $419,420 60 CITY OF LYNCHBURG, VIRGINIA $ 2 6 0 ,0 0 0 M e m p h is , T e n n e s s e e , Public Improvement Bonds. Police-Station Bonds T he undersigned will receive sealed proposals s ig n e d u ntP l°Sa*S' Wl*1 'Je r e c e *v e d b y th e u n d e r u n til 12 o ’clock noon AUGUST 1 6 th , 1909. , A ugust 31, 1909 for $400,000 th irty -y e ar, n o n-taxable Public Im 0 # °m p * m -» for th e purchase of all or provement Bonds of th e C ity of L ynchburg, ? jM n n n m T n ° „ 1Iund re(1 an d SIxty T housand Virginia. t h ’vs?/ Hollars Police S ta tio n coupon bonds These bonds will be Issued In denom inations of ♦ l A . t i n? « 01 M emphis, Tennessee. D enom ina $1,000 each, d a te d Ju ly 1st, 1909, bearing In terest tio n $1,000, dated A ugust 1, 1909, payable a t th e ra te of fo u r p er cen t p e r a n n u m , payable A u eu st 1 , 1949, Interest four (4) p e r cent per J a n u a ry a n d J u ly a t th e office of th e T reasu rer of M emphis p a y a ^*e sem i-annually. New Y ork or th e C ity of L ynchburg, V irginia. L egality of bonds a p proved by Dillon & T he bonds will be engraved u n d er th e super vision of a n d certified as to th e ir genuineness by H u b b a rd , whose opinion w ill be delivered to * th e U nited S tates M ortgage & T ru st C om pany p u rch aser. Bids m u st be on blank form s furnished by of New Y ork. A check for tw o per c en t of th e p a r value of th e undersigned and be accom panied by a duly bonds bid for m u st accom pany each bid. Said certified check on some solvent bank In Memphis check payable to th e order of th e T reasu rer of th e lo r five (5) per centum of the p a r value of the C ity of L ynchburg, V a., a n d certified to b y a bonds bid for. responsible b an k , and deposited as a g u aran tee ffhe rig h t Is reserved to reject a n y and all bids. of good fa ith . The rig h t is reserved to reject a n y DAVE H A LL E, C hairm an. an d all bids. tv* A .‘* ARM STRONG, Secretary. H . anE. CRA FT. R. C. Q U IN N , C hairm Police Station Building Commissioner, Finance C om m ittee of Board of A lderm en. M emphis, Tenn. R IC H A R D HANCOCK, C hairm an Finance C om m ittee of Common Council. FIN A N C IA L ST A T E M E N T . Assessed V aluation, 1908_________ $27,191,271 A ctual V a lu atio n___________________ 40,000,000 T o tal Bonded D eb t, Including this Is s u e _____________________________ 2,514,100 W ater D eb t, Included In to ta l_______ 834,000 Sinking F u n d s______________________ 141,230 Sinking F u n d s for w a ter bonds, In cluded In ab o v e __________________ 52,200 P a p u la tio n 1909 ___________________ 35,000 Blodget, Merritt & Co. BANKERS City of Ottawa, Ontario, D E B E N T U R E S FOR S A L E Tenders addressed to "T h e C hairm an, B oard of C ontrol,” a nd m arked "T enders for D eben tu re s ,” will be received by th e C orporation of th e ity of O tta w a u n til 12 o ’clock noon, on T H U R S aC Dny A Y , T H E 2D S E P T E M B E R , 1909, for th e purchase of $98,000 00 40-y ear debenture*. $159,000 00 30 years and $162,420 60 20 year*. The debentures are all a liability of th e C ity a t large, are all d a te d 1st Ju ly , 1909, a nd b ear 4 in te re st, payable 1st J a n u a ry a nd 1st J u ly . All tenders m ust be on the official form , accom panied w ith a m arked cheque for $ 5 ,000 .00 . Accrued in terest m ust bo paid in additio n to the price tendered. Bonds will be m ade payable In O tta w a. New Y ork a nd L ondon, a t th e option of purchaser; and In denom inations to su it. D elivery will be m ade a t O ttaw a w ttbln one m onth If required. • The highest or a n y te n d e r n o t necessarily a c cepted. Full p articulars, tog eth er w ith fu rth e r condi tions a nd official form of te n d e r can be obtained on application to th e C ity T reasurer, O ttaw a O tta w a, 6 th J u ly , 1909. (Sgd.) CHAS. H O P E W E L L , M ayor. F O R R E S T & CO. bank ers Municipal Bonds 421 CHESTNUT ST.. Albert Kleybolte & Co., 4 0 9 W a ln u t S tre e t, C IN C IN N A T I, O. M u n ic ip a l, C o u n ty, S ta te , and High-Grade Public Service Securities PHILADELPHIA, PA. ST A TE , C IT Y AND r a il r o a d 6o State Street, bo n d s - Boston 30 Pine Street, - N ew York Perry, Coffin & Burr, IN V E S T M E N T BONDS, 60 State Street, BOSTON. Correspondence Solicited M UNICIPAL AND RAILRO AD W E OW N AND O F F E R MUNICIPAL BONDS. MUNICIPAL BONDS LISV.O N a p p l i c a t i o n AND SEASONGOOD & M ATER, Tax Exempt Anywhere In the United State* Write for Particulars J o h n H. W a t k i n s RAILROAD BONDS No. 2 WALL STBEET NEW YORK Mercantile Library Building 0IN0INNATJ ULEN, SUTHEELIN & 00. «17 Flrrt N»t. Built Bldg, C H I CAG0,1LL. 5 ,3 3 0 E a s t F e d e r a l S t r e e t a n d H lm r o d A v e . p a v in g b o n d s . M a tu r ity $ 1 ,0 6 6 y e a r ly o n O c t . 1 fr o m 19 1 1 t o 1 9 1 5 I n c lu s iv e . 1 0 .0 0 0 F lo r e n c e d a le A v e . p a v in g b o n d s . M a tu r it y $ 2 ,0 0 0 y e a r ly o n O c t . 1 fro m 1911 t o 1 9 1 5 I n c lu s iv e . 1 ,0 7 5 M c K in le y A v e . se w e r b o n d s . M a tu r it y $ 2 1 5 y e a r ly o n O c t . 1 fr o m 1911. t o 1 9 1 5 I n c lu s iv e . 4 4 5 E a r le A v e . s e w e r b o n d s . M a tu r it y $ 8 9 y e a r ly o n O c t . 1 fr o m 1911 to 1915 I n c lu siv e . 1 9 .0 0 0 P o la n d A v e . s e w e r b o n d s . M a tu r it y $ 3 ,8 0 0 y e a r ly o n O c t . 1 fr o m 1911 t o 1 9 1 5 I n c lu siv e . 3 8 5 C a n to n S t r e e t g r a d in g b o n d s . M a tu r it y $ 7 7 y e a r ly o n O c t . 1 fr o m 1911 t o 1 9 1 5 I n c lu siv e . 2 ,2 8 0 D e w e y A v e . e t a l. s id e w a lk b o n d s . M a tu r it y $ 4 5 6 y e a r ly o n O c t . 1 fro m 1911 t o 1 9 1 5 I n c lu s iv e . D a te S ep t. 20 1909. I n t e r e s t s e m i- a n n u a lly a t t h e C i t y T r e a s u r e r 's o f f ic e . P u r c h a s e r s m u s t b e p r e p a r e d t o t a k e t h e b o n d s n o t la te r t h a n S e p t . 2 0 , t h e m o n e y t o b e d e liv e r e d a t o n e o f t h e b a n k s In Y o u n g s to w n o r a t t h e C ity T r e a s u r e r ’s o f f ic e . U h ls m u s t b e m a d e o n e a c h b lo c k o f b o n d s s e p a r a te ly a n d b e a c c o m p a n ie d b y a c e r t if ie d c h e c k o n a n a t io n a l b a n k fo r 2% o f a m o u n t o f b o n d s b id fo r , p a y a b le t o t h e A u d it o r . Canada^ its Provinces and Municipalities. Ard Beg School District No. 1922 (P. O. Emsburg), Alberta.— Debenture Sale.— O n M ay 17 a n issu e of $ 1 ,0 0 0 5% % sc h o o l-b u ild in g d e b e n tu r e s w a s a w a r d e d to J . A d d iso n l i e i d o f R e g in a a t 1 0 0 .7 0 . D e n o m i n a t i o n $ 1 ,0 0 0 . D a te M ay u r l t y p a r t y e a r ly fo r t e n y e a r s . 17 1909. In ter e st a n n u a l. Barrie, Ont.— Debenture Election.— O n A u g u s t r a t e p a y e r s w ill v o t e o n a b y -la w to issu e $ 2 0 ,0 0 0 \ y e a r lo a n d e b e n tu r e s. M a- 1G th e 20- A% X to J . M . R o b in so n & S o n s o f S t . J o h n (V . 8 9 , p . 3 6 8 ) w a s 96^. D e n o m in a t io n $ 1 ,0 0 0 . D a te June 1 1909. I n t e r e s t s e m i-a n n u a l. M a t u r it y o n J u n e 1 a s f o llo w s : $ 1 ,0 0 0 y e a r ly fr o m 1 9 1 0 t o 1921 I n c lu siv e a n d $ 2 ,0 0 0 y e a r ly fr o m 1 9 2 2 t o 1 9 2 8 I n c lu s iv e . Dresden, Ont.— Debentures Not to be Issued at Present.— W e a re a d v is e d t h a t th e $ 2 0 ,0 0 0 4 J ^ % c o u p o n sc h o o l d e b e n tu r e s m e n tio n e d in V . 8 8 , p . 1 6 4 2 , w ill n o t b e issu ed u n til J a n u a r y 2 1 9 1 0 . I n t e r e s t p a y a b le a t th e C a n a d ia n B a n k o f C o m m erce in D r e sd e n . Elbow, Sask.— Debenture Sale.— N a y & J a m e s o f R e g in a p u r c h a s e d in J u ly $ 4 ,0 0 0 lo c a l-im p r o v e m e n t a n d $ 1 3 ,0 0 0 sc h o o l d e b e n tu r e s. Forest Hills School District, Sask.— Debenture Sale.— T h is d is t r ic t , it is s t a t e d , h a s a w a r d e d $ 1 ,1 0 0 5}4% 1 0 -y e a r d e b e n tu r e s to H . O ’H a ra & C o. o f T o r o n to . Fraserville, Que.— Debenture Offering.— P r o p o sa ls w ill b e r e c e iv e d u p to a n d in c lu d in g A u g . 15 ( th is d a t e fa lls o n S u n d a y , b u t is so g iv e n in th e o ffic ia l a d v e r tis e m e n t) b y M. D e s c h e n e s , S e c r e ta r y -T r e a s u r e r , fo r $ 8 0 ,0 0 0 5 % 4 0 -y e a r d e b e n tu r e s . D e n o m in a tio n $ 1 ,0 0 0 . I n t e r e s t s e m i-a n n u a l. Listowell, Ont.— Bids Rejected.— A ll b id s r e c e iv e d o n A u g u s t 2 fo r t h e $ 1 2 ,5 0 0 4 ^ % e le c tr ic -lig h t d e b e n tu r e s o ffered o n t h a t d a y w e re r e je c te d . V . 89, p. 246. Maple Leaf School District No. 83 (P. O. Morden), Man.— Debenture Offering.— P r o p o sa ls w ill b e r e c e iv e d u p to a n d Berry Water School District No. 1,968, A lberta— De in c lu d in g A u g u s t 15 ( t h is d a te fa lls o n S u n d a y b u t is so benture Offering.— P r o p o sa ls fo r $ 1 ,8 0 0 d e b e n tu r e s. is S e c re ta ry -T r ea su r er . w ill b e r e c e iv e d u n til A u g u s t 10 W . W . R o b s o n ( P . O .'H e a r n le ig li) Bridgeburg, Ont.— Debenture Election.— A n e le c tio n w ill b e h e ld A u g u s t 16 to v o t e o n a p r o p o s itio n to issu e $ 4 0 ,0 0 0 5 % 3 0 -y e a r se w e r a n d p a rk d e b e n tu r e s . Brockville, Ont.— Debentures Defeated.— T h e e le c tio n h eld A u g u s t 5 r e s u lte d in th e d e f e a t o f th e $ 1 6 ,0 0 0 4 ^ % b rid g e b u ild in g d e b e n tu r e s m e n tio n e d in V . 8 9 , p . 24G. T h e v o te w a s 2 3 6 “ fo r ” to 2 7 5 “ a g a i n s t .” Carleton County (P. O. Woodstock), N. B. —Price Paid For Debentures.— W e a r e in fo r m e d t h a t th e p rice p a id for t h e $ 2 6 ,0 0 0 4 % c o u r t-h o u s e d e b e n tu r e s a w a r d e d o n J u ly 20 g iv e n in t h e o ffic ia l a d v e r t is e m e n t ) b y J . A . H o b b s , C h air m a n o f t h e S c h o o l B o a r d , fo r $ 4 ,9 3 0 5 % d e b e n tu r e s . . t ? r e s t a n n u a lly o n D e c . 1 M a t u r it y p a r t y e a r ly o n D e c . 1 fr o m 1 9 1 0 t o i y 2 6 I n c lu s iv e . ^ Masson, Que.— Debenture Election.— A p r o p o s itio n to issu e $ 6 ,9 0 0 5 % 4 0 -y e a r d e b e n tu r e s w ill b e s u b m it t e d to th e r a te p a y e r s o n A u g u s t 1 6 . Montreal, Que.— Debenture Sale.— T h e I n v e s t m e n t T r u s t C o ., L t d ., of M on treal h a s p u r c h a s e d $ 7 0 0 ,0 0 0 4 % 4 0 -y e a r M o n trea l T e c h n ic a l S c h o o l d e b e n tu r e s a t a b o u t p a r . T h e issu e is g u a r a n te e d a s t o p r in c ip a l a n d in t e r e s t b y t h e P r o v in c e o f Q u e b e c. D a te A u g . 1 1909. I n t e r e s t s e m i- a n n u a l. Newlands School District No. 2103 (P. O. Nokomis), Sask. — Debenture Sale.— O n NEW LOANS. 8 5 0 ,0 0 0 Essex County, New Jersey, J u n e 2 0 a n is s u e o f $ 1 ,1 0 0 5 ]/2% MISCELLANEOUS. OFFICE OF THE ATLANTIC MUTUAL INSURANCE COMPANY. New Y ork. J a n u a ry 21st, 1900. PARK BONDS. T h e T r u s te e s , i n c o n fo r m ity w i th th e C h a r te r o f th e C o m p a n y , s u b m i t th e fo llo w in o s ta te m e n t o f i ts a f f a i r t o n t h e 31sl o f D e c e m b e r , 1908. T h e B o a r d o f C h o se n F r e e h o ld e r s o f t h e C o u n ty o f E s s e x , N e w J e r s e y , I n v ite s p r o p o s a ls fo r t h e POTChalJe ,o f 5 5 0 ,0 0 0 E S S E X C O U N T Y P A R K B O N D S , In d e n o m in a tio n o f $ 1 ,0 0 0 e a c h , I n te r e s t c o u p o n s a t 4 p e r c e n t p e r a n n u m , p a y a b le A u g . 1 a n d l 'c b . 1, p r in c ip a l a n d I n te r e s t p a y a b le In g o ld . B o n d s p a y a b le A u g . 1, 1 9 4 9 . T h e b o n d s w ill b e a r I n te r e s t fr o m A u g . 1 , 1 9 0 9 , a n d t h e p u r c h a s e r m u s t p a y I n te r e s t a c c r u e d to d a t e o f d e liv e r y . S c a le d p r o p o s a ls w ill b e r e c e iv e d b y th e F in a n c e C o m m it t e e o f t h e B oard o f C h o se n F r e e h o ld e r s , a t a m e e t in g t o b e h e ld b y s a id C o m m it t e e , a t t h e F r e e h o ld e r s ’ r o o m In th e C o u rt H o u s e , a t N ew a rk , N . J ., on W E D N E S D A Y , A U G U S T 25. 1 9 0 9 , a t 2 o ’c lo c k p . m ., w h ic h m e e t in g w lli r e m a in o p e n fo r t h e r e c e p t io n o f p r o p o s a ls u n til 2 :3 0 p . m . E a c h p r o p o s a l s h a ll s t a t e t h e a m o u n t o f b id In w o r d s a n d llg u r e s, a n d m u s t b e a c c o m a n le d b y c e r tllle d c h e c k s fo r $ 5 0 0 , w h ic h w ill e a p p lic a b le o n a c c o u n t o f p u r c h a s e m o n e y o f b o n d s , a n d fo r f e it e d b y s u c c e s s f u l b id d e r w h o a f te r w a r d s fa lls t o ta k e th e b o n d s . C o p ie s o f p r o c e e d in g s w ill b e f u r n is h e d t o s u c c e s s f u l b id d e r s , b u t p r o p o s a ls m u s t b e u n c o n d it io n a l. T h e F in a n c e C o m m itte e r e se r v e s t h e r ig h t t o r e je c t a n y a n d a ll p r o p o s a ls. If, In Its J u d g m e n t, th e I n t e r e s t o f t h e C o u n ty r e q u ir e s s u c h a c t io n . T h e b o n d s w ill b e e n g r a v e d u n d e r th e s u p e r v is io n o f, a n d c e r t llle d a s to t h e ir g e n u l n e i e s i b y , t h e U n it e d S t a t e s M o r tg a g e & T r u s t C o m p a n y o f N e w Y o r k C it y , a n d w ill b o r e a d y fo r d e liv e r y o n A u gu st 2 7 th , 1909. B y ord er of F I N A N C E C O M M IT T E E . A M O S W . H A R R I S O N , C h a ir m a n . Prem ium s on M arine R isks from 1st J a n u a ry , 1908, to 31st D ecem ber, 1908 $3,307,807 24 743,389 01 Prem ium s on Policies n o t m arked off 1st Ja n u a ry , 1903..... ........................ ............................... S HUNT, SALTONSTALL & CO., D le m b e ri M ew Y o r k S to c k E x c h a n g e Investment Securities 60 ST A T E S T R E E T BO STO N C A N A D IA N M U N IC IP A L B O N D S W . A. M A C K E N Z IE & CO., TORONTO, CAN ADA T o tal M arine P rem ium s_______ . ____________________________________________________ $4,051,198 28 Prem ium s m arked off from 1st J a n u a ry , 1908, to 31st D ecem ber, 1908_________________$3,333,483 68 In te re st received during th e y e a r____________________ _____ $307,823 39 R e n t less Taxes a nd E xpenses______________________ _____ 142,032 22 $449,853 61 Losses paid during the y ear w hich w ere estim ated In 1907 a n d previous y e a r s . . . ................................................................... $420,655 46 Losses o ccurred, estim ated a nd paid In 1908______________ 1,274,822 2 2 $ 1 , 695,477 68 Less S a lv a g e s ..........................................$279,988 33 R e-Insurances........................................... .. 109,555 37 479,543 70 $1,215,933 08 R etu rn s of P rem ium s_________________________________________________ E xpenses, Including officers’ salaries a nd clerks’ c o m p e n s a t io n , s t a t io n e r y , new spapers, a dvertisem ents, e tc _____________________________________ $51,930 45 $344,266 85 A SSE T S. L IA B IL IT IE S . U nited S tates & S ta te of New Y ork Stock, C ity, B ank a nd o th e r Se curities ---------- ---------------------- $5,442,792 00 Special deposits la \n k s &TrustCos. 8 0 0 ,0 0 0 0 0 R eal E sta te cor. W<„1 & W lllla m S t s ., & E xchange P lace.$4,299,426 04 O th e r R eal E s ta te & claims due th e com p an y ------------------75,000 00 4,374,426 04 E s t im a t e d L o s s e s a n d L o s s e s U n s e t t le d _________________ ______ ____ $2,310,433 06 P r e m iu m s o n U n te r m in a t e d R is k s . 717,712|79 C e r tific a te s o f P r o fits a n d I n t e r e s t U n p a id ____________ ______ _______ 260,822 35 R e tu r n P r e m iu m s U n p a id .................... 121,473 66 C e r tific a te s o f P r o fits O rd er e d R e d e e m e d , W ith h e ld fo r U n p a id P r e m i u m s ________________________ 22,339 35 C e r tific a te s o f P r o fits O u ts t a n d i n g .............................................................. 7,363,410 09 R e a l E s t a t e R e s e r v e F u n d ____ 270,000 00 P rem iu m jte s and Bills R eceivable Cash In tn e hands of E uropean B ankers to p ay losses under poli cies payable In foreign co u n tries. Cash In B a n k ____________________ 1,377,905 06 399,031 95 429,950 18 A ggregating----------------------------- $12,824,105 23 A ggregating.....................................$ 1 1 ,0 6 6 ,1 9 1 05 A dividend of in te re st of Six per cent on the ou tsta n d in g certificates of profits will be paid to th e holders thereof, or th eir legal representatives, on and a fte r Tuesday the second of F ebruary n e x t T h e o u tsta n d in g certificates of th e Issue of 1903 will be redeem ed and paid to th e holders thereof o r th e ir legal representatives, on and a fte r Tuesday the second of F eb ru ary n e x t, from w hich d a te all in te re st thereon will cease. T he certificates to be produced a t the tim e of p a y m e n t a nd canceled A dividend of Forty per c en t Is declared on the net earned prem ium s of the C om pany for the "year ending 31st D ecem ber, 1908, for w hich, upon application, certificates will be Issued on and after Tuesday th e fourth of May n e x t. By order of the Board, Q. STANTON FLOYD-JONES, Secretary. TRU STEES. G U STA V A M S IN C F, P R A N O IS M. BACON. J O H N N . BEA C H , W IL L IA M B. BO U LTO N . V E R N O N H . B RO W N , W A L D R O N P . B RO W N , JO H N O L A FL IN , G E O R G E C. C LA R K , CLEVELAND H . DODGE, C O R N E L IU S E L D E R T . R IC H A R D H . E W A R T , H E R B E R T L. G R IG G S. C LE M E N T A. GRISCOM, ANSON W . H A R D . L E W IS CASS L E D Y A R D , FR A N C IS H . LE G G E T T , C H A R L E S D . L E V E R IC H . L E A N D E R N . LO V ELL, G E O R G E H . MACY, C H A R L E S H . M A R SH A LL, W . H . H . M OO RE. N IC H O LA S F . PA L M E R . H E N R Y P A R IS H , D A LLAS B. P R A T T , G EO R G E W . Q U IN T A R D . A. A. RAVEN, JO H N L. R IK E R , D O UGLAS R O B IN S O N . GUSTAV H . SCH W AB. W IL L IA M SLO A N E, IPA.AO S T E R N , W IL L IA M A -iS T R E E T . A . A . R A V EN , P r e s id e n t. C O R N E L IU S E L D E R T . V i c e - P r e s i d e n t . SA N FO R D E . C u B B , 2d V i c e - P r e s i d e n t . C H A R L E S E . F A Y . 3d V i c e - P r e s S u m t . JO H N H J O N E S S T E W A R T , 4 t h V i c e - P r e s i d e n t s c h o o l-b u ild in g d e b e n tu r e s w as F a r la n e o f N o k o m is a t 1 0 0 .5 0 . D a te J u n e 2 0 1 9 00. 1919. aw arded In ter c u t a n n u a lly in D e c e m b e r . to Wm, M ac M a tu r it y D ec. 2 Red Deer, Alberta.— Debenture Sale.— O n A u g u s t 2 th e $ 1 ,5 0 0 5 % s id e w a lk d e b e n tu r e s m a tu r in g p a r t y e a r ly for 5 y e a r s a n d th e $ 3 ,0 0 0 5% fire-h a ll d e b e n tu r e s d u e p a r t y e a r ly fo r 2 0 y e a r s (Y . 8 9 , p . 6 7 ) w e re a w a r d e d to G eo . A . S tim s o n & C o. o f T o r o n to a t 1 0 0 .2 4 4 a n d a c c r u e d in te r e s t. T h e b id s w e re a s fo llo w s: G . A . S t im s o n & C o ., T o r . .$ 4 , 5 1 1 T h o s . R . P a r k e r , T o r o n t o - 4 ,5 0 0 I m p e r ia l B a n k , R e d D e e r . 4 ,5 0 0 S t e in e r , D u n lo p & C o ., T o r . 4 ,4 6 0 0 0 M ith ln e & C a r s c a llin , R e d D e e r ______________________ $ 4 ,3 8 8 00 00 0 0 N a y & J a m e s , R e g in a -------- 4 ,3 6 5 7 9 0 0 B r e n t , N o x o n & C o ., T o r . . 4 ,3 5 6 0 0 St. Gertrude School District No. 2,329.— Sask.— De benture Sale.— O n J u ly 19 $ 1 ,2 0 0 5 M % d e b e n tu r e s d a te d J u n e 26 19 0 9 a n d d u e J u n e 1 1919 w ere a w a r d e d to B r e n t, N o x o n & C o. o f T o r o n to a t p a r. I n te r e s t a n n u a l. St. Louis, Hochelaga County, Que.— Debenture Sale.— T h e $ 6 0 0 ,0 0 0 4 ^ % 4 0 -y e a r d e b e n tu r e s offered o n A u g u s t 3 (V . 8 9 , p . 3 0 7 ) w ere a w a r d e d , it is s t a t e d , to M r. B a stie n a t 104. P u r ch a se r to fu r n ish b o n d s a t h is o w n e x p e n se . Shelbourne, Ont.— Debenture Election.— A b y -la w to issu e $ 6 ,0 0 0 4 % 3 0 -y e a r w a te r d e b e n tu r e s w ill b e p a s se d u p o n b y th e ta x p a y e r s o n S e p te m b e r 2 0 . a w a r d e d to th e D o m in io n S e c u r itie s C o r p o r a tio n , L t d ., o f T o r o n to . M a tu r ity 8 , 10, 2 0 , 30 a n d 4 0 y e a r s . Thetford Mines, Que.— Debenture Offering.— P r o p o sa ls w ill b e r e c e iv e d u n t il 12 m . A u g u s t 16 b y V . M o risset, S e c r e ta r y -T r e a s u r e r , fo r $ 2 0 0 ,0 0 0 5% g o ld c o u p o n w a te r w o r k s a n d r e fu n d in g d e b e n tu r e s . A u t h o r it y 3 E d w a r d V I I , C h a p te r 3 8 . D e n o m in a tio n $ 1 ,0 0 0 . D a t e A u g 1 1909. I n t e r e s t s e m i-a n n u a lly a t t h e Q u e b e c B a n k in T h e tfo r d M in e s . M a tu r ity p a r t y e a r ly o n N o v e m b e r 1 fro m 1 9 1 4 t o 1 9 5 4 . D e b e n tu r e s are ta x -e x e m p t. C e r tifie d c h e c k fo r $ 2 ,0 0 0 , p a y a b le t o t h e V illa g e o f T h e t f o r d M in e s , is r e q u ir e d . Tompkins School District No. 2298, Sask.— Debenture Sale. — T h is d is tr ic t s o ld $ 2 ,3 0 0 o f R e g in a in J u ly . h%% d e b e n tu r e s to N a y & J a m e s Tugaske, Sask.— Debenture Sale.— T h is v illa g e in J u ly a w a r d e d $ 3 ,0 0 0 5}4% sc h o o l a n d $ 2 ,0 0 0 6 % lo c a l-im p r o v e m e n t d e b e n tu r e s to N a y & J a m e s o f R e g in a . Tuxford, S a s k .— Debenture Sale.— W e are a d v is e d t h a t $ 2 ,0 0 0 6% d e b e n tu r e s o f th is v illa g e w e re a w a r d e d la s t m o n th to N a y & J a m e s o f R e g in a . Vegreville , Alberta.— Debenture Sale.— T h is to w n h a s a w a r d e d $ 7 ,0 0 0 6% d e b e n tu r e s to N a y & J a m e s o f R e g in a . M a tu r ity p a r t y e a r ly for te n y e a r s . Vonda Roman Catholic Separate School District, Man.—• Debenture Sale.— D u rin g t h e m o n th o f J u ly H a w k e y , S o m e r Shellmouth School District No. 292, Man.— Debenture v ille & C o. of In d ia n H e a d , S a s k ., w e re a w a r d e d a n issu e of Sale.— O n J u ly 2 9 th e $ 3 ,5 0 0 6 % d e b e n tu r e s o ffered on th a t d a y (V . 8 9 , p . 185) w e re a w a r d e d to t h e M a n u fa c tu r er s’ L ife I n su r a n c e C o. o f T o r o n to a t 1 0 7 .7 1 4 . S o m e o f th o b id s w ere a s fo llo w s: M fr s .’ L . I n s . C o ., T o r o n t o . $ 3 ,7 7 0 T o r . G e n . T r u s t s C o r p 'n ., W i n n i p e g ________________ 3 ,7 3 0 D o m . S e c . C o r p ., T o r o n t o . 3 ,7 1 3 G . A . S t im s o n & C o ., T o r . . 3 ,7 1 1 M a tu r it y p a r t y e a r ly f r o m 1 9 1 0 0 0 O n t. S e c . C o r p ., T o r o n t o . . $ 3 ,6 8 7 0 0 C anada L and N a t io n a l C o ., W i n n i p e g . . ................. 3 ,6 8 3 7 5 00 0 0 N a y & J a m e s , R e g i n a _____ 3 ,6 8 2 15 00 t o 1 9 2 9 in c lu s iv e . Stanley School District No. 1917 (P. O. Vermilion), Al berta.— Debenture Sale.— O n J u ly 8 $ 1 ,4 0 0 5J^ % 1 0 -year d e b e n tu r e s w e r e a w a r d e d to N a y &TJ a m e s of R e g in a for $ 1 ,4 0 7 8 5 , th e p rice th u s b e in g 1 0 0 .5 6 0 . ^ I n t e r e s t a n n u a lly on D ec. 8 . Strathcona, Alberta. — Debenture Sale.— D u rin g J u ly $ 1 6 2 ,3 0 8 5 8 4 ^ % lo c a l-im p r o v e m e n t d e b e n tu r e s w e re ACCOUNTANTS. $ 5 ,5 0 0 5)4% d e b e n tu r e s. M a tu r ity 1929. Watrous School District, Sask.— Debenture Sale.— A n issu e of $ 1 8 ,0 0 0 5 % % d e b e n tu r e s w ere a w a r d e d d u rin g th e m o n th o f J u ly to H a w k e y , S o m e r v ille & C o. o f I n d ia n H e a d , S a s k . Weyburn, Sask.— Debenture Sale.— A n is s u e o f $ 7 5 ,0 0 0 5 % 4 0 -y e a r d e b e n tu r e s h a s b e e n a w a r d e d to N a y & J a m e s of R e g in a . Windsor, Ont.— Debenture Offering.— P r o p o sa ls w ill b e r e c e iv e d u n til 12 m . A u g u s t 2 6 b y S te p h e n L u s te d , C lerk , for $ 2 0 ,0 0 0 4% m a c a d a m p a v e m e n t d e b e n tu r e s . I n t e r e s t s e m i-a n n u a l. M a tu r ity t w e n t y y e a r s . Woodlawn School District No. 1499 (P. O. St. Vital), Man .— Debenture Sale.— T h e $ 6 ,0 0 0 5 }4 % 2 0 -y c a r sc h o o l b u ild in g d e b e n tu r e s o ffered o n J u ly 31 (V . 8 9 , p . 3 0 7 ) h a v e b e e n p u rc h a sed b y N a y & J a m e s o f R e g in a . MISCELLANEOUS. MISCELLANEOUS. ESTABLISHED 1854. T H E A M E R IC A N MFG Arthur Young & Co. MANILA, SISAL AND JUTE Certified Public Accountants CORDAGE. (IL L IN O IS ) N e w Y o r k , 3 0 P in e S t r e e t M ilw a u k e e , 6 3 3 W e lle B ld g C h ic a g o , 1 3 1 3 M o n a d n o c k B lo c k K a n s a s C ity , 1 1 0 6 C o m m e r c e B ld g . LYBRAND, ROSS BROS & MONTGOMERY 65 Wall Street, ■ CO. SALES CASHED m a in New York NATIONAL LIGHT, HEAT & POWER CO. GUARANTEED BOND8 All Issues b a n k e r s 30 P in e Street, N ew York 74 BROADWAY, NEW YORK CO., CHARTERED ACCOUNTANT B an ke rs Audita, Inveatigatlons, Cost anil General System* 4 3 K I N G 8 T „ W .. T O R O N T O . C A N A D A 37 BROADW AY NEW YO RK Telephone 2240 Rector 3116 W u lu n t S t ., C in c in n a ti A L F R E D RO SE & CO., 0ERTI7IED PUBLIC ACCOUNTANTS 56 Pina Street, - LOOMIS, C 0N A N T & CO. C E R T IF IE D P U B L IC A C C O U N T A N T S 3 0 B lr a a d S t r e e t . N e w Y e<rk Te*. 4068 Broad. Bank and Trust Co. Stocks NEW YO R K Telephone *261 John._____________ JOHN P. MUNN, M.D., President Good m en. whether experienced In We Insurance a t not may make direct oontraots with this Com- nanv for a limited territory If desired, and seoura for them selves. In addition to first year's commis sion. a renewal Interest Insuring an Inoomo to t tba future. Address the Company a t Its Home OfHeel N o 87T Broadway. New York City. NOW READY INVESTMENT SECURITIES. P. J. G 0 0 D H A R T & IN1THE CITY OF NEW YORK Issues Guaranteed Contracts. Finance Committee R . P L U M ------- - - - - - ------ --------- Leather OLARENOB H.KELSBY.Prea.Tltle Gu. A Tr. Oa. WM. H. PO R T E R . Pres. Chemlca National Bank Hew York,Chicago, Cincinnati and London, England. J. W E L C H 1908 The United States Life Insurance Co. ja m r n WEBB & C0„ HARRY sto re 108-110 FRANKLIN ST.. NEW YORK CITY. A nnexes In New Y o rk a n d o th e r cities 1850 JAMES PARK & CO. O E R TIPIE D PUBLIC ACCOUNTANTS AUDITORS POR FIN A N C IA L IN S T IT U TIO N S, IN D U STR IA L A N D MINING COM PANIES Investigations, Financial Statem ents. Periodical Audits and A ccounting. Banker and Commission Merchant. M anufacturers’ a nd O ther A ccount, Solicited a nd Financed. E quitable In te re s t Allowed on D eposits S U B JE C T TO C H EC K C.rtifled (PPublic Accountants A . H . Bickmore & C o., e n n s y lv a n ia ) L a n d T it le B u ild in g P H IL A D E L P H IA . C ity I n v e s tin g B ld g ., 1 0 5 B r o a d w a y NEW Y O R K . U a lo n R a n k B a lld t n g P IT T S B U R G H . JAMES TALCOTT. Hand-Book of Securities DESCRIPTION INCOME DIVIDENDS RANGE OF PRICES (For saries of years to July 1 ,1 9 0 9 Price of Single Copies, - - - i’o Subscribers e f the Chronicle. - 11 00 - 75 T ho H and-B ook la Issued to B ankers and Brokers with their names lettered in ellt en tha outside cover (not less than 29 copies to on* address) a t special rates. OTTO J U L IU S M E R K E L 11 R O K K R 4 4 AND 4 6 W ALL 8TR K ET. NEW YORK INVESTMENT SECURITIES* CorrespoKdunee In v ited . G o m m e r c k i & F in a n c ia l C h ro n ic le te*PR O fW « N B and DC P E Y S E R STB.; y 1 NEW YO AS „ . .