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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 ...............................................................
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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
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(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
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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 .
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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
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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 . .

Ask
__ _

I r u s t C o 's

Eta

A sk

B ro o klyn
B ro o k ly n Ti
C itiz e n s . .
F ln tb u s h . .
F r a n k lin . .
H a m ilto n . .
H o m e ...........
K in g s C o . .
L Isl L * Tr
N a s s a u ____
P e o p le ’s ___
Q u e en s 0 . .
W llU a m sb ’g

410
420
__ .
137
H u d son —
1 0
145
K n lc k c r b 'k r
605
200
160
350
200
375
120
260
L aw T I &Tr
1300
265
100
170
276"
460
110
M a n h a tta n
390
490
M e rc a n tile
750
610
300
260
v ie t r o p o l’tn
560
316
410
350
160
M orton T r .
170
155
286
300
M u t u a l------127
145
116
165
M ut A lt'n ix
130;
80
100
§ L e s s t h a n 100 s h a r e s , t E x - r lg h ts . ft Nevr s t o c k , c E x - d lv . a n d r ig h ts . it N o w q u o t e d d o lla r s p e r s h a r e .
w eek,
s T r u s t c o ,.c e r t if ic a te s , if B a n k s m a r k e d w ith a p a r a g r a p h (1J) aro S t a t o b a n k s.

__

__

N bw York Stock Exchange

Bond Record, Friday, Weekly and Yearly

19. th e E xohanao m e th o d o t a u o tln o b o n d s w n s r \ n . . ^ t d , a n d n rtees a re noio a l b - " a n i in te r e s t”—exsep t /o r in co m e a n d d e fa u lte d bo n d s.

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 . .
U S ot M e x ic o h i
G old 4 s of 1 9 0 4 .

25
25
11
..
19
99
54

F-A
J 1
J J
M-S
JJ
O-J
J- C

9 5 4 A u g ’01

1 94>a 9 5
94 4
94V
t 93
9 3 1 92*4
93
i 80*8 b a le
80
86-V
1 1o a i o 3
102
10 2 4
t 9» *8 salt96 4
9 5 -V
9 0 v lo u b 9 0 0 9
9 3 J4 9 4 l- 04
94

hese a r e p i ices o n th e b
24 F - a
14 J -J
H ew Y ork C it y —
4 s w h e n a n d aa is s u .
59
4 % C o r p o r a to .-s to c k ___ 10; 58
18
>7
N e w 4 **
17
57
4
[7
4% '
57

M-N
M-6
M-6
Ai-l>
M-|\
M-N
M-N
M-N
ob M -S
1.' u J
3 J J
»l J - J
s ...........

^,

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

1 10 N o v ’08
105 4 D e c ’U4

1 0 1 1 , Hale
1 j 1-*4 Sam

lo m
101^
, 01*4 R i i 3-.
i O l 3* D e c ’Ue
L l‘2
112*4
I 0 4 7e J ’l y ’oo
112
U 2 ‘>
1 0 4 % J ’l y v o
l 0 1 *4 A U g ’OV
1 13^ J ’u e'09
102 4 J » h ’09
9 6 4 F e b ’ot'
‘J I H A u g ’O.
42 4 A u g ’UP

108
U5

..................
1 1 2 4 MLIfc
1 0 4 1U 4's
1 0 0 Kl..........
...... ...
101 _____
9 6 * 4 ..........
9 1 4 94
. . . . . . 45

93 4

90

904 94
89 4 9 4 4

8.
80*< 8
1044
014

1102

9 .) 1
974 lo 14
9 2 4 95
of $ 5 to Sr.

10041014
10L 103
iV i4
104
1113b
104
101
124
102 4
96 4
914
374

i i 2°*
104 7h
1124
104 4
103
1134
1021,
96*i
93
48

R a ilro a d
t bee S o B y
A lala obaamMa uClle nbee
A t C o a s t .LI ae

U b a n y «& S u s a bee D el & H in
k lle g iie n v V a lle y bee P en n 1 h
l l l e g <& w e s t bee B u ll it &
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C in I & W 1 s t g n g 4 s . 1 9 5 3
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109 V .
I n d D e c & W 1 st g 5 s . . . 1935
107 V D e c ’02
1 s t g u a r g o ld 5 s ............... 1 9 3 5
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O in S & U 6' w C C O S t h
O le a r h e ld * M a h See B R * 1*
9 8 .........
98V
98 V
C le v C m C & S t D g e n g 4 s 1 9 9 3 J-D
9 4 V 95
94 V
94 V
C airo D iv 1 s t g o ld 4 s ___ 1 9 3 9 J -J
94 V A u g ’Oo
9 1 V .........
C in W & M D iv 1 s t g 4 s . 1991
J
9 6 J ’l y ’Oii
95 V 96
S t L D i r 1 s t c o l t r g 4 s . . 1 9 9 0 M-N
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91
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9 6 ......... . 9 2 P 'o b ’Os
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9 8 V A u g ’09
9 8 V .........
1 s t g o ld 4 s ........................Icl9 3 6
9 8 S a le
98
98 V
R e g i s t e r e d ..................fc l9 3 6
O in S & Cl c o n 1 s t g 5 s . .1 9 2 8
J 1 0 9 V ........ 109 V M a y ’09
......... 111 V J ’l y ’09
0 C C & i c o n s o l 7 s ...........19 1 4 J -D I l l
C o n so l s in k fu n d 7 s ___ 1 9 1 4 J -D
130 N o v ’08
127 V •
G e n e r a l c o n s o l g o ld 6 s . 19 3 4 J -J
R e g is te r e d ......................1934 J -J
9 4 J ’l y ’08
i n d B1 & W 1 s t p r e f 4 8 .1 9 4 0 A -0
O 1 m l & W 1 s t p f 5 s . ..(1 1 9 3 8 Q-J
9 4 .........
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P e o & K a st 1 s t con 4 s . ..1 9 4 0 A-O
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I n c o m e 4 s ........................... 1 9 9 0 Vpi
C le v * M a r ie tta See P e u u R R
C le v * P i t t s See P e n n Co
84
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98
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100
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a lia s * W aco See M K * 'X
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l s t c o n s o l g u a r 7 s .........19 1 5 J-D 1 1 5 ’ ,1 1 6 V 116 V J ’l y ’oo
127 J ’u e ’05
K e g is ie r e d .....................1 9 1 5 J -D
94
96 V 9 4 J ’l y ’08
1 s t rol :-ti g 3 V s .............2 0 0 0 J -D
119 A u g ’09
119
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102
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102
1 s t & re f 4 s ...........................1 9 4 3 M-N l u l 3. S a le 1 0 IV
106V
l o - y r c o n v d e b 4 s .............1 9 1 6 J -D 106 S a le 106
103
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104 V A u g ’09
A lb & S u s c o n v 3 V s .........1 9 4 0 A-O 104 1 0 5 ’ i2
b V J ’l y ’09
K e n s & S a r a to g a 1 s t 7 s . 1921 M-N 128 V ---D e l R iv R R B r id g e See P a R R
9 7 V 9 7 V 97 V A u g ’09
D e n v * R G r 1 s t c o n g 4 s . 1 9 3 0 J -J
104 J ’u o ’09
C on so l g old 4 V s ..................1930 J -J 1 0 4 .........
102
V ......... 102 V J V y ’09
I m p r o v e m e n t g o ld 5 s . . .1 9 2 8 J -D
9 6 S id e
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96
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9 8 F e b ’08
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7 8 J ’n e ’09
75
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96V
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9 7 J a n ’o
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D e s M o i * P t D See M * S t L
110 S o p ’04
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9 5 J ’l y ’UO
D o t * M a c k 1 s t lie n g 4 8 .1 9 9 5 J-D
9 2 J ’l y ’09
G o ld 4 s ......................................1995 J-D
D o tr o it S o u th e r n —
O h io S o u D iv 1 s t g 4 s . ..1 9 4 1 M-S .......... 83<>b 8 1 A u g '0 9
111 V J n c ’09
D u l * ir o n R a n g e l s t 5 s . . 1937 A-O 112
R e g is te r e d .............................1937 A -0 ...........1 1 2 V 106 V M a r’08
2 d 6 s ..........................................l i >10 J -J
D u l S h o r t L in e See N o r P a c
110 V F e b ’09
D u l S o S h o r e * A t i g 5 s . . 1937 J -J
l .' a s t o f M in e See S t P M * M
I j a s t T e n V a * G a See S o Ry
115
E lg in J o l * E a s t 1 s t g 5 8 .1 9 4 1 M-N 115 Salt L15
E lm O ort & N o See L e h * N Y
9 9 V M ay’0 8
E rie 1 s t e x t go ld 4 s ................19 4 7 M-N 101 . . .
106V JV y ’09
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104 V A p r ’O'.
3d e x t g o ld 4 V s .......... . . . . 1 9 2 3 M-S 103 V . . .
4 th e x t g o ld o s ......................1 9 2 0 A-O 1 0 7 V 1 0 9 V 107 V A u g ’09
9 8 ........... 97 J a n 09
5 th e x t go ld 4 s ..................... 19 2 8 J -D
1 s t c o n s o l g o ld 7 s ................1 9 2 0 M-S 125 V 1 2 6 V 124 V A ug'U 9
124 A u g '0 9
1 s t c o n s o l g tu n d 7 s ..........1 9 2 0 .VI-S .......... 1 2 4
89 V
89V
89
90
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8 6 V M a y ’o9
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78 V
79V
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80
7 8 V 7 9V 78 V
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S e n e s B . .. 1 9 5 3 A -0
B u n N Y & E r ie 1 s t 7 s . .1 9 1 0 J-D 116 V _____ 116 J ’l y ’09
C l u e * E r ie 1 s t g old 5 s . . 1982 M-N 1 1 5 V 1 1 6 V L l S V J ’l y ’Ot
121 D e c ’08
110 ...
C l e v * M ah ou V a i g o s . 19 3 a J -J
L o n g L ock c o n s o l g O s..1 9 3 5 A-O 1 2 6 V .......... 127 J ’n o ’09
C o a l * R R 1 s t c u r g u 6 s . 1922 M-N 1 1 4 V ........ 114 J ’n e ’09
D o c k * i m p 1 s t c u r 6 s . .1 9 1 3 J - J
.......... 1 0 6 V 110 A p r ’09
1 0 8 M a r ’09
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.....

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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
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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
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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
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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
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96V 1U 0V
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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

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.......... 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
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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
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l o 2 d g o ld o s ..........................1041
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.......................

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1 s t c o n s o l g o ld 4 s ...........711931 O-J
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17

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112 V 115
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112V 114V

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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
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..... . . . .. .
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1 0 1 V .......... 105 V J a u ’91

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

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J-J
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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

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112

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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
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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
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IS *00
155
155 Sale 1 5 5
107 V D e o ’00
.......... 101
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101V 1 0 5 V 105 J ’l y ’08
100
96
.......... 100 M a y ’09
117

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So £

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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
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9 7 V 97 V
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103 V 101
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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
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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'

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M oK ’p t <fc B V See N V C en t
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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

—
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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
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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
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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
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l i l v ifc G D i v l a t g 4 a . . 1 9 3 3 M-N
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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
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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
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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
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G o u v A O e w e l a t g u g o a 1 9 4 2 J -D

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105 J n e ’Oc
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116 J ’ly Ol
110 J a i l ’09
97*8 9 8
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105 *»........ 103 D e c ’09
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89*4 9 0
113*2 114
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104 106?
108 ......... 109** ' U v ’OU
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99

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109*4 A u g 09
106
107*2 107*2 J ’l y ’09
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1 0 8 108 *2 108 J ’l y ’09
.......... 113
113 J ’i y ’09
101*4 S a le 101*4
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93*4 9 0
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.......... 1 0 8
110 M ar’05
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113 J ’l y ’09
110*4 Bale 110*2
U 0 78
1 1 0 111*4 110*4 M a y ’09
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88*8
89
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115 F e b ’Oi
125 F e b ’Ob
103*4 D e c ’03
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119 J 'u e ’Ob
100*4 A p r ’0 9
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101

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98*s 95*4
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100
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108 112
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110*4 112
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l a t c o n s o l g o ld 4 s ........... 1 9 6 8 J -D
117 118
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B6*2 91
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112 *2 112*4 N o r R y C al See S o P a o
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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
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143
C h ic J u n e R y & U S Y .1 0 0
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120l2 D e c
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120
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165 M eh
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120' 1 2 1 '
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139
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263 D e c
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Last Sale 270 Ju n e’09
133 N o v
117 Jan
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■____
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193 N o v 193 N o v
88
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Last ~Sale 260" Aprif’09
196*8 D e c
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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
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31
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7
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89 4

41
46
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31*8
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7
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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

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454
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24 4
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61*4 61*4
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70
704
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26
264
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85
86
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7 l*4
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P H IL A D E L P H IA

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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
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22

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164

62*
105*4 106
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112*
111
43 4
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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
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40
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4 0 34 41
4 5 34 45*8
4 4 34 45*0
12*4 12*4
61*4 6 2 4
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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
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A l t A L V E le c 4 4 h’3 3 .F -A
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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
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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,

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112 4
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109*4
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149
97
68

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1 01**4 1 0 2 4
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102 4 10 3
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16
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175
510

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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
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F e b 2 5 21*8 J ’n e U
F e b 24 4 1 M ay 17
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20
65
80
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F eb 15
F eb 26
Jan
12

P h ila d e lp h ia
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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
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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
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5 4 Feb
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50 59 4 F eb 23 82*®ie A u g 12 463i0 F e b
,792 R e a d i n g ...................
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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

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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
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85 4
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B A L T IM O R E
I n a c t i v e .S to c k s
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25
P r o f ................................. 1 00
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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
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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
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5 6 4 Apr
94*., D ec

B id

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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
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1U0
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C o a lA 1 R y 1 s t 5 s ’20F’.A 1 0 2 4
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C o n so l G a s 6 s . . . 1 9 1 0 J -D 10 1
101*1
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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
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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
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330
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8 2 4 82*4
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93
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S9*4 *89«i
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104
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108
S o u t h B o u n d 1 s t 5 s ..A - O 1 0 6
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94
92
U n B y A FU 1 s t 4 s '4 9 M -S
88*4 8 8 4
85
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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 -- *
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103
104
5 t h s e r ie s 5 s 1 9 2 6 .M -S
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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 .

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Bid Ask
6
____
C o n so l R u b b e r T ir e __1 0 0
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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
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Corn P ro d R e f See S to c k E x c list
75
70
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Bonds.
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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
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D o u g la s C o p p e r . . ___ , _ 5
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652,227 *51 ,4 5 2 ,7 0 0
38
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W ednesday ------------1061? 10/1
H o b F y 1 s t 5 s 1 9 4 6 M -N
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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
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4
H
s
*08
M
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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
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96
5
3
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26
25,383
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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
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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
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1
9
1
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.......................M
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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
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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
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5
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—
T u e s d a y ------------------- 24,695
9 ,246
19,162
15
22,100
60.000
I
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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
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60
35.200
1
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1
9
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............A
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1
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35
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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
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n
M
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n
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ty
p
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—
.
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
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*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
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7734
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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
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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
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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
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40
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/ 95
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82
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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 —
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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
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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
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115
list
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148
120
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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
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100
155
103
150
95
90
135
140
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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
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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
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102
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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
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60
P r e fe r r e d (w I ) -------J0 0
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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
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B rooklyn
♦39
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24
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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
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_______
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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
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1
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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
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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
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97 100
♦67g '7»*
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138
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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
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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
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109
z257>4
25
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p
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G
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---------50
30
109
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A 107
110
B
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M
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l
k
.
100
121
75
1 s t g 5 s 1 9 5 2 ----------- A -O
90
108
--— —
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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
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----------—
100
P
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30
34
71
B r itish C ol C o p p e r . . . . . 5
*733
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104
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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

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«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
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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
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rHO c©•'TSM*-<O COCi CO i O i O l
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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

„

. .