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/p IV
OiimmerriH
IN C L U D IN G
Bank and Quotation Section (M o n th ly )
Railway and Industrial Section (Q ua rterly)
VO L.
87.
SA T U R D A Y ,
State and City Section(se m i-A n n u a lly )
Electric Railway Section(^JJ™*)
A U G U ST
3£!xje © t o n i d j e *
lf t
1908.
T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F o r O h o Y e a r ........................................................... .....................................................................$ 1 0 0 0
F o r S i x M o n t h s .....................................................
.....................
..
(5 0 0
E u r o p e a n S u b s c r i p t i o n ( i n c l u d i n g p o s t a g e ) . " ..............____________________ i '3 0 0
E u r o p e a n S u b s c r i p t i o n s i x m o n t h s ( i n c l u d i n g p o s t a g e ) . .............................
7 50
A n n u a l S u b s c r i p t i o n I n L o n d o n ( i n c l u d i n g p o s t a g e ) ..................................... £ 2 1 4 s .
S i x M o n t h s S u b s c r i p t i o n i n L o n d o n ( i n c l u d i n g p o s t a g e ) .............................£ 1 1 1 s .
C a n a d i a n S u b s c r i p t i o n ( i n c l u d i n 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 f o l l o w i n g S u p p le m e n ts —
t$ ' n k a n d Q u o t a t i o n ( m o n t h l y )
l s t a t e a n d C i t y (s e m i-a n n u a lly )
R a i l w a y a n d I n d u s t h i a l ( q u a r t e r l y ) | E l e c t r i c R a i l w a y (3 t im e s y e a r ly )
o f
A d v e r t is in g — P e r
I n c h
S p a c e
( T r a n s i e n t m a t t e r p e r i n c h s p a c o ( 1 4 a g a t o l i n e s ) ...................................................
T w o M o n th s
(M t i m e h ) ......................................
T h r O e M o n t h s ( 1 3 t i m e s ) .....................................
S ta n d in g B u s in e s s C a rd s
■) S i x M o n t h s
(2 (5 t i m e s ) ......................................
L T w e l v e M o n t h s ( 5 2 t i m e s ) ......................................
$4
22
29
50
87
20
00
00
00
00
C H I C A G O O F F I C E — P . B a r t le t t, 5 1 3 M o n a d n o c 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 ith , 1 D r a p e r s ’ G a r d e n s , E . C.
W I L L I A M I*. D A N A t iO f f lP A N T , P u b l i s h e r s *
P . O. H ox
.
F r o n t . P i n o a n d D c p e y s t o r S t s .,
N ew Y o r k .
958
. P u b l i s h e d e v e r y S a t u r d a y m o r n in g liy W I L L I A M B - D A N A C O M P A N Y ,
w i l l i a m B . D a h f t , P r e s i d e n t ; . J a c o b S e i b e r t ,T r ., v l c c - P r e s . a n d S e o . ; A r n o l d
G . D a n a , T r e a s . A d d r e s s e s o£ a l l , O f l l c o o f t h e C o m p a n y .
C L E A R IN G -H 0 U SE
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.
fot Wdbk end. Aug. 15 havb been $2,526,895,(379, against $2,
558,752,434 last week and 82,800,611,934 the week last year.
Clearings— llc'utn-4 b>/ Telegraph A u g . 15
1908.
1907.
S I , 3 0 0 ,2 5 3 ,0 2 8
1 1 7 ,1 9 1 ,4 8 7
8 1 ,7 8 9 ,5 4 7
1 8 ,1 8 3 ,7 0 1
1 8 1 ,0 8 8 ,9 4 5
5 3 ,3 7 2 ,2 1 0
9 ,3 2 9 ,8 0 0
$ 1 ,4 0 9 ,9 0 8 ,5 0 0
1 3 1 ,2 1 4 ,1 2 8
1 1 8 ,4 5 2 ,4 3 7
2 3 ,5 9 4 ,0 4 1
1 9 1 ,1 4 9 ,2 7 9
5 3 ,0 4 4 ,5 2 2
9 ,7 8 7 ,2 9 0
— 7 .8
— 1 0 .7
— 3 1 .0
— 2 3 .0
— 5 .3
+ 0 .0
— 4 .7
S e v e n c it ie s , 5 d a y s ........................................
5 1 ,7 0 1 ,2 0 9 ,3 1 8
3 5 0 ,4 0 7 ,3 8 7
. 1 , 9 3 7 , 2 1 0 , S03
3 9 5 ,4 8 1 ,2 1 0
— 9 .1
— 9 .9
T o t a l a ll c it ie s , 5 d a y s ..................................
8 2 ,1 1 7 ,(5 1 0 ,7 0 5
4 0 9 ,2 7 8 ,9 7 4
$ 2 ,3 3 2 ,0 9 2 ,0 1 9
4 7 3 ,9 1 9 ,9 1 5
— 9 .2
— 1 3 .0
$ 2 ,5 2 0 ,8 9 5 ,0 7 9
$ 2 ,8 0 0 ,0 1 1 ,9 3 4
— 1 0 .0
N e w Y o r k ______________ _______
P h i l a d e l p h i a .....................
B a l t i m o f e ___________________
C h i c a g o ............................ .......
L o t u s ..................................................................
N e w O r l e a n s ..............
st.
New Y o r k ...........
Philadelphia____
Pittsburgh...........
B altim ore...........
B u ffa lo ................
W a sh in gton -----Albany..................
R och ester...........
S cran ton ..............
Syracuse ..............
Reading .............
W ilm ington.........
Wilkes-Barre . . .
Wheeling ............
H arrisburg.........
E r i c ____________
C h e s te r ...............
B ingh am ton____
G recnsburg_____
F ra n k lin ..............
Y o r k ....................
Trenton ..............
A lto o n a ......... ..
In c . or
D ec.
1906.
Total M id d le.. 1 ,7 0 9 ,2 1 9 ,3 5 4 1 .8 3 4 ,0 0 2 ,4 3 5
T o t . M i d .W e s t .
3 0 3 ,4 1 8 ,1 0 7
3 2 0 ,3 9 8 ,2 3 7
— 7 .0
2 8 8 ,9 1 8 ,8 4 2
2 6 6 ,1 4 6 ,3 2 8
1 1 ,0 5 4 ,1 2 0
1 1 ,1 0 7 ,4 0 2
9 ,8 6 8 .3 8 7
0 ,8 6 0 .4 5 7
0 ,1 2 9 ,0 4 1
5 ,7 4 4 ,0 0 4
4 ,8 0 3 ,7 5 8
2 ,4 0 1 ,1 8 5
9 3 2 ,7 9 5
5 7 7 ,3 4 1
5 2 5 ,0 0 0
5 0 0 .0 0 0
N o t in c lu d e d
N o t in c h ld e d
5 0 5 ,2 0 7
N o t in c lu d e d
N o t in c lu d e d
N o t in c lu d e d
— 1 6 .1
— 17.!)
— 1 8 .4
— 1 7 .4
— i0 .9
+ 0 .1
— 19.1
— 3 7 .2
— 1 5 .3
— 1 3 .0
+ 4 .3
— 10.1
in t o t a l
in to ta l
— 8 .0
in t o t a l
In t o t a l
In t o t a l
3 8 ,4 9 3 ,0 7 0
1 0 .4 5 2 .2 4 9
9 ,0 0 3 ,7 9 5
5 ,2 1 2 ,9 5 5
4 ,4 2 0 ,9 4 0
3 .6 2 1 ,3 0 7
3 ,5 7 2 ,1 3 3
3 .4 1 2 .5 7 1
7 2 0 ,7 0 4
4 8 1 ,5 8 4
3 9 7 ,5 7 7
4 2 1 ,0 3 0
3 3 ,2 7 6 ,7 7 2
9 ,7 0 0 ,0 0 0
5 .1 9 0 .3 1 1
4 ,1 2 3 ,0 6 1
4 ,5 0 0 ,0 0 2
2 ,9 8 9 ,3 2 0
2 ,8 0 0 ,6 3 2
N o rth Y a k im a . .
B i l l i n g s ...................
3 4 ,4 2 7 ,7 8 i
9 ,1 2 4 ,9 5 8
8 ,0 5 0 ,8 9 8
5 .6 (5 3 .5 7 6
5 ,0 9 4 ,1 3 9
0 .1 0 6 ,3 3 8
3 .8 8 7 ,9 4 6
1 ,5 4 0 ,0 3 9
7 8 9 ,9 1 2
5 0 2 ,4 2 8
5 4 7 ,3 2 3
4 7 0 ,0 9 0
875,01)0
7 8 8 ,0 0 0
5 1 9 ,8 3 2
4 4 0 ,0 0 0
2 2 ,6 5 4
2 G 2 .05 7
T ota l P a c ific ..
7 6 ,7 3 1 ,2 2 0 '
9 1 ,1 9 0 ,1 0 7
— 1 5 .9
8 0 ,2 7 0 ,5 7 5
0 4 ,3 5 1 ,0 2 6
K a n s a s C i t y _____
3 1 .0 0 8 ,5 0 7
1 9 ,1 5 7 ,3 4 1
1 0 ,2 4 2 ,9 3 5
8 ,4 5 0 ,5 0 2
7 ,4 2 1 ,3 1 1
4 ,8 3 1 ,8 i s
2 ,7 5 7 ,0 0 4
1 .7 5 1 ,4 2 0
1 .3 2 5 ,8 1 1
1 .1 0 2 ,3 4 7
1 ,0 5 7 ,0 7 5
1 ,0 3 3 ,3 0 8
5 0 5 ,9 2 4
5 0 0 ,0 0 1
4 0 2 .0 5 5
4 2 2 ,0 5 0
+ 1 3 .0
— 2 0 .4
+ 5 2
+ 1 4 .8
+ 22 A
— 2 .0
— 0 5
+ 0 .7
+ 5 .2
— 5 .5
- f - 1 *0
+ 1 7 .0
+ 4 0 .1
+ 2 7 .2
+ 7 .0
— 4 .0
2 7 ,7 0 (1 ,4 5 3
1 0 ,5 3 2 ,4 0 5
8 ,8 .8 9 ,0 7 0
7 .1 4 2 ,3 3 0
5 .3 8 5 ,0 8 5
4 ,0 2 8 ,1 2 2
2 ,4 1 1 ,2 0 2
1 ,5 5 4 ,8 9 5
1 ,3 6 4 .8 8 7
9 3 4 .1 0 3
7 7 0 ,5 4 3
1 ,1 3 2 ,7 4 0
7 2 1 .3 7 8
4 2 8 ,0 1 7
4 9 8 ,3 4 1
3 1 2 ,9 0 4
2 3 ,5 9 7 ,1 3 2
1 .3 ,0 7 3 ,1 5 2
8 . lO I.S O S
0 .0 1 4 .8 0 1
0 .0 3 4 ,1 9 7
4 .0 7 1 ,7 9 7
2 .3 8 8 ,4 9 8
1 .3 9 5 .1 2 0
9 o 9 ,5 0 7
0 3 2 ,7 6 1
7 3 3 ,8 1 9
F r e m o n t ................
3 5 ,0 3 7 ,4 .1 7
1 5 ,1 5 8 ,0 7 1
1 0 ,7 7 7 .4 2 5
9 .0 9 9 ,5 8 6
9 ,0 9 0 ,1 5 0
4 ,7 3 5 ,5 7 1
2 ,5 7 9 ,7 0 4
1,8 0 9 ,2 5 0
1 .3 9 4 .2 5 5
1 ,0 4 1 ,2 4 0
1 .0 0 7 ,4 7 0
1 ,2 0 8 ,9 3 1
8 2 0 ,7 7 5
7 1 9 ,8 6 5
4 9 4 ,4 3 5
4 0 3 ,0 5 9
T o t . o t h .W C s t .
9 0 ,1 0 3 ,8 9 0
9 2 ,1 8 1 ,9 1 2
O a k la n d --.
--
-
S a n D ie g o .............
S t . P a u l __________
W i c h i t a . . _______
S t . L o u i s ................
1 3 8 ,2 2 8 ,1 0 2
5 ,7 8 9 ,4 0 0
3 ,3 5 0 ,5 1 9
2 ,5 8 7 ,2 3 3
2 ,0 1 4 ,1 5 7
1 ,5 8 0 ,9 7 4
1 ,3 9 9 ,7 3 0
7 7 5 ,4 0 0
7 5 0 ,2 9 8
4 4 8 ,2 9 0
4 4 1 ,0 4 0
1 3 9 .1 7 2 ,0 2 2
7 .1 1 0 ,8 0 0
3 .4 3 1 .0 8 1
2 ,2 4 3 ,7 9 2
2 .1 2 1 ,8 0 3
1 ,9 0 0 ,0 0 0
1 ,4 0 9 ,3 0 7
9 3 0 .5 4 8
5 7 4 ,7 7 1
5 1 8 ,2 7 1
5 5 1 ,1 4 0
— 0 .7
— 1 8 .0
— 2 3 .6
+ 1 5.3
— 5 .1
— 1 6 .8
— 0 .7
— 1 7.2
+ 3 0 .5
— 1 3 .5
— 1 9 .S
1 2 8 .7 9 2 .4 8 3
5 ,9 3 4 ,2 0 0
3 ,3 0 5 ,5 5 0
2 ,0 7 2 ,8 0 3
1 ,8 9 3 ,6 6 0
1 ,4 6 5 ,3 5 4
1 ,3 4 7 ,7 3 8
6 8 1 ,0 3 1
6 4 1 ,8 1 2
4 2 1 ,5 8 4
4 7 4 ,0 8 0
1 3 1 .1 4 7 .6 8 0
6 ,3 4 5 ,8 0 0
2 .0 3 3 ,1 8 8
2 .2 6 6 ,3 2 1
1 ,6 3 0 ,7 9 8
1 .5 0 3 ,4 3 9
1 ,3 9 3 ,0 3 1
0 3 6 .8 6 8
7 2 0 ,1 0 7
4 3 0 ,2 9 7
4 7 8 ,1 7 2
Total New Eng.
1 5 7 ,3 0 0 ,1 2 1
1 5 9 ,9 7 6 ,2 0 1
— 1 6
1 4 7 ,0 9 0 ,3 0 7
1 4 9 ,2 4 0 ,6 0 1
M o b ile
................
V i c k s b u r g ........... T o ta l S ou th ern
M 3 ,8 7 0
5 7 8 ,1 2 3
2 S 3 .S 7 5
6 4 6 ,1 6 3
4 5 8 ,2 5 6
4 8 4 ,5 0 3
2 2 2 ,8 2 5
+ 4 .3
7 9 ,8 1 3 ,2 5 5
6 9 ,5 5 0 ,8 (1 5
5 2 ,3 2 2 ,7 4 9
0 0 ,4 9 3 ,5 5 9
+ 1 5 .0
1 0 ,5 8 8 ,7 0 4
1 4 .2 2 3 ,9 9 8 — 2 5 .0
+ 7 .9
1 2 .7 2 9 ,3 1 1
1 3 ,7 3 9 ,7 9 7
9 ,9 1 2 ,7 0 1
— 7 .3
9 ,1 9 1 ,7 8 0
+ 41.1
4 .1 4 7 ,0 0 0
5 ,8 5 0 ,0 0 0
—
15,9
5
,4
0
0
,0
0
0
5 ,3 1 3 ,8 7 5
2 ,8 9 4 ,1 0 5
3 .9 5 1 ,3 0 1 — 2 0 .8
— 7 .8
3 ,5 4 5 ,7 5 8
3 ,2 0 8 ,7 2 2
3 .5 3 S .4 4 3
3 ,4 0 7 ,9 2 4
— 3 .7
4 ,5 0 0 ,0 0 0
+ 4 0 .0
3 ,2 0 0 ,8 3 8
2 .7 0 5 ,8 1 3
— 7 .1
2 ,5 1 4 ,1 3 7
1 ,8 3 4 ,1 7 0
2 .4 6 4 .0 8 3 — 2 5 .0
2 .1 3 0 ,7 5 4 — 2 2 .0
1 ,0 0 7 ,9 2 2
1 ,8 0 1 ,8 1 0 — 2.5.1
1 ,3 5 0 ,0 0 0
1 ,2 9 3 ,4 2 1
1 .5 2 3 .0 0 3 — 15.1
1 .4 0 3 ,5 8 9 — 2 4 .8
1 ,1 0 0 ,0 0 0
+ 4 .8
1 ,4 7 4 ,3 5 9
1 ,4 0 6 .4 0 3
— 4 .4
1 ,1 1 0 .4 2 9
1 ,0 0 1 ,5 1 8
4 * 7 .2
1 ,0 6 8 ,7 8 8
1 ,1 4 5 ,2 6 4
+ 9 .3
9 3 2 .0 0 0
1 ,0 1 8 ,5 9 0
+ 10..S
1 .1 0 4 ,9 7 6
9 4 5 ,7S7
+ 3 .0
5 0 0 ,0 0 0
5 1 4 ,9 5 8
+
2 7 .4
5 0 0 ,9 9 3
0 4 5 ,8 7 1
3 0 2 ,8 4 6 N o t I n c lu d e d In t o t a l
2 7 0 ,42S N o t I n c lu d e d in t o t a l
4 8 .0 7 5 ,9 0 3
1 .3 .0 9 2 ,9 0 4
1 1 ,0 1 5 ,8 0 3
9 .2 8 0 .9 0 2
5 ,1 4 9 ,0 0 0
5 ,5 5 0 ,0 0 0
3 .3 2 1 ,9 0 0
2 .9 3 9 ,1 0 2
3 .4 8 1 ,6 5 2
2 .6 0 9 .6 6 1
3 .0 2 8 ,3 5 7
2 .1 3 0 ,1 5 2
1 ,8 8 0 ,5 3 6
1 ,1 9 3 ,8 3 7
1 ,0 2 7 ,5 0 9
1 .1 0 1 ,4 0 3
1 ,2 3 2 ,4 5 9
9 0 1 ,3 1 1
9 4 0 ,3 8 2
9 3 8 ,0 0 3
0 0 0 ,4 5 3
4 0 7 ,3 1 1
3 1 0 ,0 0 0
4 7 .5 8 0 ,9 0 (5
1 3 ,0 3 5 ,4 3 4
1 0 .9 0 3 ,2 9 8
5 ,5 8 7 ,1 0 7
4 .3 0 9 ,0 0 0
4 ,2 5 9 ,0 0 0
2 .8 0 0 ,2 0 9
3 ,7 7 2 ,5 1 0
2 .7 0 2 .5 3 1
2 ,1 8 3 ,1 5 4
3 ,0 0 5 ,9 4 2
\ ,5 5 4 ,7 0 1
1 ,3 3 9 ,3 1 5
9 0 0 ,8 7 4
9 5 4 ,$ 5 2
1 ,1 4 5 ,9 4 3
1 ,2 2 7 ,7 8 1
8 0 0 ,8 4 2
1 .3 8 2 ,2 1 7
8 0 2 ,6 2 6
+ 3 .4
1 2 0 ,9 8 8 ,2 0 7
1 1 1 ,7 2 7 ,8 3 4 -
1 3 5 ,9 7 3 ,7 1 8
1 3 1 .5 3 8 ,8 7 1
T o t a l a l l . . _____ 2 ,5 3 8 ,8 1 2 ,4 1 0 2 ,6 3 5 ,2 8 7 ,7 6 0
3 4 5 ,3 7 2
2 9 7 ,7 8 0
— 3 .0 2 ,5 7 9 ,1 4 7 ,6 3 4 2 ,2 3 3 ,4 1 4 ,7 3 7
9 7 9 ,2 9 9 ,4 3 2 1 .0 3 3 ,0 3 6 ,5 8 7
— 5 .2
9 4 0 ,9 1 0 ,3 5 4
8 6 7 ,4 7 4 ,0 5 9
2 9 ,7 7 3 ,0 7 6
2 0 .1 1 6 ,0 5 3
1 1 .2 0 0 ,4 1 0
3 .9 8 4 ,0 3 0
3 .2 3 5 ,9 4 0
2 ,2 2 5 ,5 0 2
2 .0 0 0 ,8 9 4
1 ,0 1 0 ,8 5 2
1 ,7 2 1 ,2 3 0
1 ,4 0 8 ,7 0 0
1 ,3 7 0 ,1 1 2
1 ,2 2 1 .5 7 0
1 ,0 2 0 ,0 1 1
— li.i
— 1.7
— 1 3 .2
— 1 0 .9
— 2 1 .3
— 3 .0
— 7 .0
— 2 1 .4
— 5 .9
— 1 8 .4
— 1 5 .8
— 2 5 .4
— 2 2 .8
2 8 ,5 9 3 ,0 3 7
1 9 ,3 0 4 ,1 7 1
8 .8 6 4 .9 5 3
2 .8 1 2 ,2 4 7
2 .0 0 3 ,7 3 5
1 .8 2 0 ,1 4 0
2 ,0 5 2 ,3 7 9
1 ,2 8 1 ,5 0 7
1 ,2 8 8 ,3 7 3
9 9 1 .0 7 8
1 ,0 9 8 ,2 4 0
7 98,2.34
7 2 6 ,9 5 4
2 3 .4 7 7 ,1 1 3
1 6 ,3 5 5 ,7 3 3
0 ,3 6 2 ,4 1 7
1 .0 0 4 ,9 2 0
1 ,9 0 4 ,9 7 3
1 ,7 3 0 ,2 1 1
1 .7 7 5 ,0 0 0
1 ,1 3 8 ,6 4 6
1 .1 3 9 ,1 5 5
___ _
9 1 9 ,2 1 7
0 0 8 ,1 3 2
E d m o n t o n ..............
2 6 .4 0 5 ,7 1 4
1 9 ,7 7 4 ,0 0 1
9 ,7 1 8 ,7 5 3
3 .5 5 1 .0 2 0
2 ,5 4 6 ,5 0 1
2 ,1 5 8 ,0 0 0
1,8 0 5 ,3 3 9
1 ,2 0 5 ,0 9 0
1 ,0 2 0 ,1 3 0
1 ,1 9 8 ,7 0 8
1 ,1 5 3 ,9 0 4
9 1 1 ,5 0 4
7 9 1 ,9 9 7
T ota l C anada .
7 3 ,0 2 2 ,0 8 3
8 0 ,9 0 0 ,4 1 0
— 9 .8
7 2 ,2 4 2 ,0 4 8
5 7 .0 S 1 .5 1 7
O u t s id e N . Y . .
— 3 .6 1 ,8 0 2 ,0 6 0 ,3 8 8 1 ,5 7 2 ,3 9 0 ,7 4 3
Boston ................
Providence ,_____
H a rtford .............
New H aven.........
P o rtla n d _______
Springfield......... W orcester______
Fall Itlvcr...........
New B e d fo r d ___
Ilolyok e................
L o w e ll..................
1905.
S a n F r a n c i s c o ___
L o s A n g e l e s --------S e a t tle ........... —
P o r t l a n d ..............s a lt L a k e C i t y . . .
S p o k a n e ----------------
J a c k s o n v il le , 111 _
A i m A r b o r _______
D a n v i l l e ...................
1905.
$
S
S
$
%
1 ,5 5 9 ,5 1 2 ,9 7 8 1 ,0 0 2 ,2 5 1 ,1 7 9
— 2 7 1 .0 3 8 ,2 3 1 ,2 8 0 1 ,3 0 5 ,9 4 0 ,07S
1 1 0 ,0 7 7 ,5 0 7
1 1 0 ,3 5 5 ,3 0 9
1 2 1 .4 8 0 .4 9 5
— 7 .0
1 1 9 ,7 5 1 ,7 5 1
3 9 , 0 3 9 .2 2 9
4
8
,2
8 0 .6 3 0
1 4 ,9 5 0 ,5 8 5
4 8 ,3 1 1 .5 8 1 — 1 9.2
2 3 ,8 5 0 ,2 5 4
2 1 ,2 1 3 ,1 0 8
2 0 ,2 1 5 .4 3 4
2 4 ,4 1 0 ,8 3 8
— 9 .0
9 ,1 1 1 ,4 8 5
8 .3 9 9 .5 0 1
7 ,2 5 3 ,1 5 7
9 ,4 9 0 .3 0 3
— 4.1
5 ,1 2 6 ,8 8 8
4 ,4 7 0 .2 0 0
0 ,0 8 1 ,0 1 2 — 1 5 .7
5 .1 0 0 ,5 5 1
4 ,9 2 4 ,7 7 1
3 ,7 1 1 ,7 9 0
5 ,5 9 6 .8 6 0 — 1 2 .0
5 ,8 8 7 ,0 9 2
3 .8 0 0 ,9 4 8
3 ,3 0 1 .0 1 2
2 ,0 5 7 .4 5 8
+ 2 .0
2 ,9 9 8 ,6 7 8
2 ,1 9 3 ,0 8 0
1 ,000,(100
2 ,2 3 6 ,2 4 3
— 1 .9
1 ,0 9 3 .7 3 8
1 ,8 0 0 ,0 0 0
2 ,2 0 0 ,8 7 8 — 1 8 .2
1 ,1 9 1 ,1 5 3
1 ,4 4 1 ,1 0 7
1 ,0 0 3 ,3 4 0
1 ,2 3 4 ,8 8 7 — 1 3 .9
1 ,0 8 4 ,5 9 7
1 ,1 1 0 ,2 7 8
1 .3 2 8 .4 9 0
1 ,1 3 1 ,4 0 8
+ 1 6 .5
9 7 3 .4 4 9
1 ,0 8 4 ,2 3 3
1 ,1 3 7 ,7 1 5
+ 10.4
1 ,2 5 0 ,2 4 3
8 6 7 ,0 4 3
l ,0 1 2,2 09
9 4 0 ,8 4 4
+ 5 2 .2
1 .4 4 1 ,3 9 3
7 0 2 ,9 2 5
1 ,1 0 8 ,1 7 2
9 4 9 ,2 4 2
+ 7 .0
1 ,0 1 5 ,8 8 0
8 7 3 ,4 4 6
6 4 6 ,3 0 5
— 6 .5
5 0 0 ,5 8 3
6 0 4 ,3 4 6
5 3 2 ,2 8 4
5 0 1 ,5 0 4 — 1 4 .8
4 2 7 .4 3 7
4 4 4 ,3 7 7
4 7 1 ,0 3 3
4 0 9 ,5 0 0
— 0 .4
4 1 0 ,5 0 0
4 0 7 ,8 0 0
4 9 4 ,0 0 0
4 8 0 ,8 5 8
— 7 .0
4 3 1 ,0 0 1
3 9 5 ,0 3 2
4 5 1 ,9 8 8
2
0
4
,3
7
0
+
1
1
.8
2 9 0 ,7 1 9
2 9 5 ,5 0 0
2 8 2 ,0 7 0
7 9 0 ,0 8 3
— 4 .2
7 5 7 ,1 1 9
1 ,1 0 2 ,9 (5 0 N o t I n c lu d e d In t o t a l
3 2 9 ,6 1 7 N o t in c lu d e d in t o t a l
1906.
.3
.
1 8 0 ,1 0 1 ,5 8 8
2 0 ,9 3 4 ,3 0 0
1 2 ,9 1 0 ,3 9 2
1 3 ,8 0 0 ,5 0 6
8 ,4 0 0 ,7 7 3
6 ,2 5 8 ,5 5 1
4 ,8 9 0 ,9 0 0
3 ,8 1 1 .0 8 4
2 .7 ,5 4 .1 8 4
2 ,1 0 3 ,5 0 6
1 ,4 3 5 ,6 7 9
1 ,1 4 3 ,4 6 0
7 9 8 ,4 3 2
7 7 9 ,0 9 9
9 0 .3 ,3 1 0
4 7 9 ,2 4 0
4 9 0 .3 8 4
3 9 4 ,8 7 7
6 0 1 ,7 8 3
3 3 0 ,6 7 2
3 1 9 .3 8 4
3 0 8 ,4 0 9
3 1 9 .0 0 0
4 0 4 ,2 9 0
2 9 1 ,8 2 3
4 2 0 .0 0 0
2 1 1 ,6 5 7
2 6 5 ,1 9 8
1 1 9 ,2 2 7
W eek endin g A u g u st 8 .
1907.
In c . or
D ec.
S
1 9 5 ,9 8 3 ,3 4 7
2 2 ,4 3 1 ,9 0 0
1 4 ,4 2 4 ,4 0 0
1 4 .7 S 0 .0 8 4
8 ,8 7 3 ,0 0 7
7 ,8 2 0 ,3 7 5
5 ,2 2 8 ,2 0 0
3 ,7 2 0 ,8 ,8 0
2 ,3 7 9 ,1 0 5
2 ,1 4 0 ,8 2 2
1 ,0 7 0 ,4 3 8
1 ,0 0 5 ,2 7 6
9 5 0 ,8 7 4
7 7 8 ,3 8 9
7 4 4 ,8 0 6
5 5 0 ,9 2 5
5 0 1 ,5 2 1
4 3 4 ,1 3 3
5 5 2 ,4 0 7
3 4 5 ,4 5 5
3 0 5 ,5 2 0
3 4 6 ,0 1 0
3 3 7 ,1 2 8
4 2 3 ,9 1 2
3 0 5 ,4 4 8
5 8 4 ,1 0 5
1 7 8 ,1 9 0
3 1 3 ,0 3 9
1 2 3 ,8 8 0
Clearings at—
1908.
1907.
«
J
%
2 1 0 ,5 S 1 ,8 9 8
2 2 2 ,$ 5 2 ,0 5 2
— 5 .4
2 2 ,5 2 0 ,7 5 0
2 5 ,1 4 2 ,1 5 0 — 1 0.4
1 5 ,3 8 2 ,8 5 2
1 5 ,9 0 4 .2S 9
— 3 .3
1 2 ,3 9 9 ,0 6 5
1 4 ,7 9 2 ,2 4 0 — 1 0 .2
9 .9 9 1 ,2 4 3
1 0 ,0 5 0 ,3 1 4
— 0 .0
7 ,5 3 6 ,0 2 3
9 ,2 0 2 ,1 0 0 — 1 8 .0
5 ,0 7 8 ,5 0 0
5 ,7 5 2 .7 0 0 — 1 1 .7
4 ,5 7 8 ,3 0 1 — 2 1 .0
3 ,6 1 7 ,1 9 0
2 ,4 3 1 ,0 3 9
2 ,5 8 1 ,7 8 5
— 5 .8
2 ,3 1 3 ,5 3 4
2 ,1 0 7 .8 3 9
— 8 .9
2 ,1 4 2 ,9 9 9 — 3 1 .1
1 ,4 7 5 ,2 0 8
1 ,9 6 7 ,3 8 9 — 1 2 .3
1 ,7 2 0 ,1 3 0
1 ,0 4 5 ,7 2 8
+ 3 .1
1 ,0 7 8 ,1 8 8
9 3 8 ,7 0 9 — 1 1.4
8 3 0 .0 0 0
— 5 .0
7 7 2 ,8 2 7
8 1 3 ,1 6 0
0 7 0 ,8 4 1 — 2 0 .4
5 3 9 ,0 2 0
7 2 0 ,9 2 7 — 2 2 .2
5 5 0 ,7 8 7
5 6 S .5 5 3
— 5 .1
5 3 9 ,4 5 8
5 0 1 ,7 9 3 — 2 6 .3
4 1 3 ,8 2 0
4 9 0 ,7 0 8 — 2 4 .5
3 7 5 .0 0 0
+ 9 .9
4 3 8 ,5 3 1
4 8 2 ,1 0 2
4 3 7 ,9 1 9
5 5 0 .0 0 0
+ 2 5 .0
4 1 7 ,8 7 9
+ 5 .9
4 4 2 ,0 2 9
— 0 .3
4 0 5 ,8 2 2
3 8 0 .0 0 0
3 2 3 ,0 2 0
3 3 2 ,7 9 5
+ 3 .0
5 5 0 .0 0 0
0 8 4 ,8 5 0 — 1 9.7
3 0 2 ,OS1
3 0 0 ,0 0 0
+ 0 .9
2 7 4 ,5 3 2
2 1 3 ,5 9 9
+ 2 8 .5
1 2 3 ,5 0 5
1 8 7 ,0 1 9 — 3 4 .2
20,34.8
2 8 ,0 0 0
3 2 6 ,7 2 9 N o t I n c lu d e d In t o t a l
C h i c a g o ...................
C i n c i n n a t i _______
C l e v e l a n d _______
D e t r o i t ____________
M i lw a u k e e .............
i i i d l a b a p o l i s _____
C o l u m b u s ..............
T o l e d o .....................
P e o r i a ____________
G ra n d l l a p l d s . . .
D it y t o n ...................
E v a n s v ille ...........
K a l a m a z o o ...........
S p r in g fie ld , 111 F o r t W a y n e ____
Y o u n g s t o w n _____
L e x i n g t o n .............
S o u t h B e n d ______
R o c k f o r d ........... S p r in g fie ld , O ___
D e c a t u r _________
Q u i n c y ____________
B l o o m i n g t o n ____
C l a n t o n ...................
M a n s f ie ld ..............A k r o n ...... ...............
%
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being fnadc 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 wo go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Aug. 8, for four years.__________________
N O . 2251.
W e e k ending A u g u st 8 .
Clearings at—
PUBLISHED W E E K L Y.
T e r m s
1908.
H a l i f a x ...................
374
T H E CHRONICLE
[VO L. LXXXVII.
arouse a n y en th usia sm ; he even seem ed to ha ve lost
T H E F IN A N C IA L S IT U A T IO N .
T he re have been developm ents th is week of a som e
w h a t u n favo ra b le character, and yet u n til yester
d a y the financial m arket su b sta n tia lly kept its own.
“ K e e p in g its o w n ” in th a t case m eans th a t no break
o f a p ro b a b ly perm anent nature disturbed W a ll Street
affairs, an d yet the sort of reckless a dvance in values
la te ly in progress has gotten for the m om e nt entangled
in its o w n audacity, p a v in g the w a y fo r the slu m p
his ju d g m e n t, as sh o w n b y a v o id in g the d iscu ssio n of
the chief features of his p a r t y ’s p la tfo rm , w hioh is
m ade u p of the food such an audience as his eloquence
is fitted for a n d draw s. Q u eerly enough, he confined
alm ost all his address to answ e rin g one qusetion; a n d
th a t w as— sh a ll the people rule? O f course th e y shall,
a n d w ill a nd do. N o w a n d then th e y pass th ro u g h a
season of hysteria, a n d w he n th u s m ade vulnerable,
are especially exposed to being m isled a nd even h oaxe d
w h ich occurred yesterday. E x c e ssiv e assurance of a
speed y return to a prosperous co n d itio n is no longer
the ru lin g feature. O ne adverse inciden t has been
b y those w ho at their to n gu e ’s end ha ve sm o o th w ords
to wheedle sim ple souls.
the developm ent of facts w hich are interpreted
as su g ge stin g a declining te nd e ncy to business re
T h e advance in railro ad rates in the S o u t h w h ich
w ent into elfect A u g . 1 is being stro n g ly a nta gon ized
covery.
b y the A la b a m a R a ilro a d C o m m issio n, a nd G o v e rn o r
C om e r is, as usual, ta k in g a vigo ro u s pa rt in the
m o vem en t against the roads. B u t P re siden t M ilt o n
H . S m it h of the L o u is v ille & N a sh v ille R E . , in a letter
w ritten to the editor of the “ M o n tg o m e ry A d v e r
La te st
railro ad
returns
sh o w
a setback
in earnings. T h e su its b y Sta tes a nd in d ivid u a ls
enjoining advances in freight rates also
indicate
th a t
no im m ediate
relief
from
th a t
source
is in sight. H ence, o b v io u sly , w ha t cannot be cor
rected m ust be endured; w h ich v irtu a lly is the sam e
as s a y in g th at som e m etho d of fu rth e r econom ies
m u st be inve nted a n d p u t in practice. W h a t is to
tiser,” give s som e facts a n d figures w h ich sh o u ld
m ake those w ho w o u ld th w a rt the effort of ra ilro a d
m anagers to m a in ta in the so lv e n c y of th eir p ro p e r
be understood b y th a t?
ties pause.
L o g ic a lly , the situ a tio n in
troduced is not so v e ry u n like th a t im p la nted b y the
P u b lic Service C o rp o ra tio n directing the M e tro p o lita n
M r. S m ith well sa y s th a t e v e ry th o u g h tfu l
m a n w ill concede th a t the interests of the people of
A la b a m a w ill be prom oted if the ra ilw a y s can, in a
legitim ate w ay, w ith ou t m aterial in ju ry to a n y in te r
est, increase their net revenues. A n d th is can o n ly
receivers an d the directors of the B e lt L in e to get to
gether w ith in ten d a y s a n d establish a joint rate; it is
stated th at the action the C o m m issio n has in m ind, be done b y red ucing expenses a n d in cre a sin g receipts.
w hich it will seek to enforce, is the ca rry in g of p assen I f the railro ads fail to earn sufficient to p a y the cost
gers on bo th lines for a fare of five cents. T h a t as of operation, interest on indebtedness, ta xes a n d a
s u m p tio n of pow er w ill be g ra tify in g to the business reasonable return to the stockholders, th eir credit
interests inte rru p ted b y the su sp en sio n of the transfers w ill be destroyed a n d th e y w ill be unable to o b ta in
a n d to the in d iv id u a ls w hose convenience has been the additional capital that m a y be needed to p ro v id e
th ere by obstructed. B u t w ha t shall be sa id respect increased facilities. M r. S m it h asserts th a t the L o u is
in g the corporations, w h ich w o uld be glad to assent ville & N a sh v ille has expended over $30,000,000 in
to the request, o n ly it has not got the m oney, no r has p ro v id in g increased facilities o n its roads in A la b a m a ,
it got the credit to do the im practicable. W h ile o u r not in c lu d in g the cost of the m a in line from E lk m o n t
sy m p a th ie s go out so g u s h in g ly to the suffering b u si to G ra n d B a y . M u c h the larger pa rt of th is capital
ness interests, a n d w hile o u r hearts bleed for the in
d iv id u a l travelers w ho have fo r so m a n y years been re
c e ivin g free rides w ith ou t p a y in g a cent of rem u nera
tio n to the giver, w h y sh o u ld we not have som e com
p a ssio n for the roads a nd investors, whose calam ities
at least call for justice? A n y w a y , be assured of th is
fact: un til the p u blic gets into the m ood and sh o w s b y
w as obtained on m ortgage securities; som e b y the sale
of stock; and a sm aller p o rtio n from earnings. I f the
co m p a n y fails to earn sufficient to p erm it its c o n tin u
in g to p a y its sto ckho ld ers a reasonable dividen d, its
credit will be v e ry m ate rially affected. M r. S m it h
th en po ints out th a t the law s of m a n y of the States,
its acts the d isp o sitio n to give capital a fair rem u nera
especially in N e w Y o r k a n d in N e w E n g la n d , p ro h ib it
sa v in g s b a n ks from p u rc h a sin g the bond s of ra ilw a y s
tio n for its use, we cannot m ate rially hasten the better
tim es.
th a t do not p a y divid en d s. H e consequently urges
th a t if the frenzied efforts of G o v e rn o r C om e r a n d
M r. B r y a n has th is week been officially notified of
his n o m in a tio n a n d apprised for the th ird tim e that
he h ad been chosen as the candidate for Pre sid en t of
the D e m o cra tic P a rt y . T h e occasion has been looked
forw ard to w ith som e degree of anxie ty, as if it m ight
p ro ve a critical jun ctu re. T here w as a tim e w hen the
mere m ention of B r y a n ’s nam e produced a degree of
sadness; it was so nearly s y n o n y m o u s w ith financial error,
w hich alw ays finds a fo llo w in g a m o n g the less inform ed,
th at the th o u g h t of his rea ching the p o sitio n he so u gh t
sent little sh ive rs of fear th ro u g h the b o d y of conserva
tive classes. H e never can a ga in have a n y such in
fluence.
T h e tru th is, there is o n ly one tim e in a na
tio n ’s or in an in d iv id u a l’s life, the adolescent period,
w hen just th at experience is possible. T h a t situ a
tio n is well illustrated b y the occasion of the current
week. T h e D em o cra tic candidate utte rly failed to
those a ctin g w ith him to destroy the ra ilw a ys, or
render th eir o pera tions unprofitable, are successful,
the resu lting effect u p o n the general b u siness of the
c o u n try w ill be such th a t increased tra n sp o rta tio n
facilities w ill not be created, le a vin g the roads to
stru ggle as best th e y m a y w ith their e xistin g indeb ted
ness.
M r. S m ith also gives som e forcible illu stra tio n s
g o in g to sh o w ho w im p o rta n t a n d how im m ediate is
the effect on local in d u strie s of a n y d im in u tio n in the
p u rc h a sin g pow er of the railro ads either as the result
of curtailed capital expenditures or a fallin g off in
their revenues.
D u r in g the m o n th of M a y 1906 the
L o u isv ille & N a sh v ille R a ilro a d Co. p u rchased 4,892,
106 feet of yellow pine lum ber, m o stly in A la b a m a , for
w hich it p a id an average price of $25 10 per th o u san d .
I n the m o nth of M a y 1908, o n the other hand, it
purchased o n ly 42,094 feet of yellow pine lu m b er
A ug. 15 1908. j
T H E CHRONICLE
m o stly in A la b a m a , a n d got it at an average price of
$14 48 per th o usand . D u r in g the calendar yea r 1907
the L o u isv ille & N a sh v ille pu rcha sed from the m ills
at E n sle y , A la., 42,000 ton s of steel rail; d u rin g the
year 1908 it w ill pu rchase from the sam e m ill 20,000
tons. M r. S m it h concludes in these w ords, a nd his
re m arks are deserving of w ide circulation, since the
situ a tio n in other Sta tes is no different from w ha t it is in
A lab am a: " I f it be conceded th a t the interests of the
375
depression in the iro n a n d steel trades w h ich followed,
the c o u n try ’s coal o u tp u t in 1907 w o u ld a ctu ally
have exceeded the half-billio n (500,000,000) m ark .
A s a m easure of the m a gn itu d e of th is total, we m a y
com pare it w ith the p ro d u ctio n of G reat B rit a in ,
w hich ra n k s as the second coal p ro d u c in g c o u n try of
the w orld. T h e U n ite d K in g d o m does an en o rm ou s
export b u siness in coal, a nd yet its coal o u tp u t in 1907
d id not quite reach three h u n d re d m illio n tons, it
citizens of A la b a m a w ill be p ro m o te d if the ra ilw a y s
a m o u n tin g to 267,828,276 lo n g tons, or 299,969,669
can be operated profitab ly, it follow s th a t their repre
sentatives— the G o ve rn o r, R a ilro a d C o m m issio n and
other officials— inste ad of d o in g all in their pow er to
d e stro y the credit of ra ilro a d s a nd em barrass their
operations, sh o u ld e x e rt them selves, officially a n d
otherwise, to. prom ote successful opera tion b y en
co u ra g in g the citizens to cheerfully p a y a reasonable
short tons, w hich latter is the sta n d a rd adopted for the
U n ite d States statistics. I n brief, the coal p ro d u c
tio n of the U n ite d States in 1907 exceeded b y 180,
480,373 sh o rt to n s (or m ore th a n 6 0 % ) th a t of the
B rit is h Isles. I t w as m ore th a n double th a t of G e r
m a n y a nd M r. P a rk e r tells us it w as equal to 4 0 % of
the total coal p ro d u ctio n of the w orld. O b v io u s ly
com p en sa tion for services rendered, and, so far as
possible, leave them free from e m b a rra ssin g a n d
o u r coal o u tp u t is so large because co n su m p tio n is
so large, a n d the latter follow s directly from the w o n
unreasonab le regulations w hich ha m p e r a n d a dd to the
cost of o p e ra tio n / ’ I n connection w ith the sam e
subject, an d as sh o w in g the extent to w hich ra ilro a d
derful m aterial developm ent w hich has occurred in the
revenues are sh rin k in g , we w o u ld direct the reader’s
attention to o u r article o n the gross earnings of U n ite d
Sta te s railro ad s for the first half of the current calendar
y e a r and w hich reveals a loss in revenues for the s ix
m o n th s of 1908, as com pared w ith the s ix m o n th s of
1907, in the e n orm ou s s u m of $230,000,000. U n le ss in
som e w a y fu rth er losses of th is nature are avoided, n o t
o n ly w ill m a n y properties be in d an ger of in so lve n cy ,
b u t an e n d u rin g re v iv a l of trade w ill be out of the
question.
U n ite d Sta te s w ith in recent years. O w in g to the pre
v a ilin g intense depression in trade, th is develo pm en t
has n o w received a n o tew o rthy check, a n d for 1908
the c o u n try ’s sh o w in g in the m atter-of coal o u tp u t w ill
be to ta lly different from th a t for 1907.
T h e ra ilro a d s
are suffering un exa m p le d losses in earnings a n d the
iron a nd steel in d u stry , b y reason of the absence of
orders from the railroads, is likew ise in a state of
conception of the m a gn itu d e of coal p ro d u ctio n in
extrem e depression. T he se tw o constitute the largest
consum ers of c o a l,a n d w ith th eir purchases so m a
te rially contracted coal p ro d u ctio n is n o w greatly
reduced. F o r the first s ix m o n th s of 1908 sh ip m e n ts
of coal o ver the P e n n s y lv a n ia R a ilro a d (w hich is the
largest co a l-ca rryin g ra ilro a d in the U n ite d State s)
fell off a lm ost 2 5 % . T h e m atter is o n ly a nother
th is co u n try ?
illu stra tio n d e m o n stra tin g th a t w hen a blow is s tru c k
H o w m a n y persons in the U n ite d Sta tes have a n y
T h e U . S. G eological S u r v e y has re
cently p u t out som e figures for the calendar ye a r 1907,
at such a pre d o m ina nt
a n d these sh o w th a t not o n ly did the 1907 coal product
far exceed a n y p re viou s record, bu t it also exceeded b y
a considerable a m o u n t all p re viou s estim ates of the
total o u tp u t for th a t year. I n brief, the aggregate
p ro d u ctio n of anthracite a n d b itu m in o u s coal in 1907
w ith a n n u a l gross earnings in n o rm a l tim es of $ 2 ,50 0 ,
fell b u t little sh o rt of half a billio n tons; in exact figures
the p ro d u ct w as 480,450,042 to n s of 2,000 p o u n d s.
T h e increase alone over the yea r preceding w as no
less th a n 66,292,764 tons. M r. E d w a r d W . P a rk e r,
the statistician in charge of the D iv is io n of M in e ra l
Resources, sa y s th a t 1907 m a y be considered a red
letter period in the h isto ry of the coal m in in g in d u stry .
I n additio n to the e n o rm o u sly increased p ro d u ctio n
a n d the general advance in prices, a co n d itio n of|peace
reigned generally th ro u g h o u t the coal m in in g regions,
th is being the result of the la b o r agreem ents m ade in
1 9 0 6
t h e
a fte r th e
t h ir t y -o n e
s u s p e n s io n
S ta te s
in
o n
A p r il
w h ic h
1
o f
c o a l w a s
t h a t
y e a r .
p r o d u c e d
O f
d u r in g
1907 there were o n ly tw o in w h ich the 1907 o u tp u t
w as less th a n th a t of 1906. T he se were b o th u n im
p o rtan t p ro d u cin g S ta t e s — C a lifo rn ia a nd O regon,
the tw o together p ro d u cin g less th a n 100,000 to n s—
a n d in bo th the decrease in 1907 w as due to the in
creased p ro d u ctio n a nd use of oil for ra ilro a d and
m a n u fa ctu rin g purposes. N e a rly all of the coal
m in ed in O regon is sent to S a n F ra n c isc o a nd the in
crease in the o u tp u t of C a lifo rn ia oil curtailed the
dem an d for O regon coal.
H a d it not been for the financial re v u lsio n w hich
cam e in O ctober a n d N o v e m b e r last, a n d the intense
in d u stry
as
the
000,000, the indirect consequences are
serious a n d w idespread.
ra ilro ad s,
sure
to be
T h e B u re a u of L a b o r in the D e p a rtm e n t of C o m
merce a n d L a b o r has issued a circular statem ent call
in g attention to the fact th a t o n A u g . 1 the la w passed
at the last session of C ongress g ra n tin g co m pen sa tion
to a rtisan s a n d laborers for injuries susta in ed in the
service of the U n ite d States w ent into effect. T h e
circular sa y s the m easure is of great im p ortan ce in the
do m a in of la b o r legislation. T h e la w in qu estion w as
a pproved M a y 30 1908 a nd is entitled “ A n A c t gra n t
in g to certain em ployees of the U n ite d States the righd
to receive from it com pensa tion for injuries sustain ed
in the course of their em p lo ym e n t.” U n d e r p re viou s
law s com pensa tion in case of in ju ry has been p a id e m
ployees in the R a ilw a y M a il Se rvice a n d in the L ife
S a v in g Service.
T h e new law applies to persons e m
plo yed b y the G o ve rn m e n t as a rtisans or laborers in
the follow ing _services: Arse nals, n a v y y a rd s, riv e r
and h a rb o r construction, fortification construction,
h a za rd o us em p lo ym en t in the R e c la m a tio n Service,
n a m e ly in co n struction a n d in control a n d m a n a g e
m ent of w orks; hazardous em p lo ym en t un d er the
Is t h m ia n C anal C o m m issio n , a n d G o ve rn m e n t m a n u
fa ctu rin g establishm ents.
A c c o rd in g to a ro u g h esti
m ate m ade b y the D e p a rtm e n t of C om m erce an d
L a b o r, about 75,000 G o ve rn m e n t em ployees com e
w ith in the p ro v isio n s of the law.
376
T H E CHRONICLE
C o m p e n sa tio n will, be p a id un der th is A c t o n ly for
su ch injuries to an em ployee as occur in the course ol
his e m p lo ym e n t an d cause in a b ility to p ursue his em
p lo y m e n t for m ore th a n fifteen days. Com pensation
is not p a id if the in ju ry is due to the negligence or
m isco n d u ct of the em ployee injured. T h e A c t applies
o n ly to injuries received o n or after A u g . 1 1908.
T h e com pensation consists of a continuance d u rin g the
period of disability, bu t not o ver one year, of the
[VOL. LXXXVII.
B a n k of F ra n c e m a y continue to attract the m etal.
M oreo ver, sm aller b a n k s of E u ro p e seem no w to b e
p u rs u in g a like p o licy in effecting go ld im p o rta tio n s,
th o u g h th eir requirem ents w ill pre su m edly be easily
satisfied. S till, so lo n g as F re n c h ban ke rs can realize
a profit th ro u g h gold im ports, the m ovem ent w ill p ro
b a b ly continue. I t w ill cease, how ever, w hen im
p o rts sh a ll be obstru cte d th ro u g h the m aintenance o f
re la tive ly high e r rates for disco unts in L o n d o n th a n
sam e p a y w hich the em ployee w as receiving at the
tim e of the in ju ry . I f the em ployee is killed or dies
from the results of the in ju ry received a n d leaves a
w idow or children un der sixteen years of age, or
dependent parents, the sam e a m o u n t of com pensation
in P a ris; th is w ill n a tu ra lly cause a rise in exchange
at P a ris on the B rit is h capital, because of rem ittances
to p a y for F re n c h inve stm ents at th a t centre, as w as
the case th is wreek.
is p a id to these dependent relatives u n til the com ple
tion of the tw elve -m onths period.
I t w as reported th is week that, as the result of
a conference between the Secretary of the T re a su ry
F re n ch ban ke rs were th is w eek unsuccessful com
and those N e w Y o r k b a n ke rs w ho participa ted in the
te n ta tive o rga n iza tio n of a N a tio n a l C u rre n cy A s s o
petitors for the $3,500,000 C ape gold th a t w as offered
in the L o n d o n b u llio n m arket, G e rm a n ban ke rs act
ing, it is reported, in the interest of A u stria n , h a v in g
secured the b u lk of the m etal; pre su m e d ly this inter
ve ntio n b y B e rlin b a n ke rs in fa v o r of A u stria n , in
th is transaction , w as due to the fact that the form er
enjoyed better facilities, th ro u g h credits, for p ro cu rin g
the
gold th a n d id the latter. T h e reason w h y
ciation last June, the objections of these bankers to
certain p ro v isio n s of the law affecting the m em ber
sh ip h a d been fo un d insurm o u ntab le. C onsequently,
the Se cre ta ry of the T re a su ry w ill, it is said, recom
m en d to C ongre ss an am endm ent to the law p ro v id in g
for a u th o rity for the w ith d ra w a l from such associa
tio n s of b a n ke rs w ho m a y so desire, after h a v in g re
tired their qu ota of em ergency currency. I t is re
F re n c h b an ke rs d id not m ore a ctively compete for
ported, also, th a t am endm ent of the other se rio u sly
th is con sign m e nt p ro b a b ly w as th a t the condition of
the m arket for exchan ge at P a ris o n L o n d o n w as less
a d van ta ge o u s for the im p o rt operation th a n it h a d
objectionable pro vision , g iv in g all b a n ks, regardless
of capitalization, equal v o tin g power, will likew ise be
recom m ended.
been p re vio u sly, the rate for such exchange h a v in g
ad vance d one centim e to 25 francs 15 centimes. T h is
advance was the direct result of the purchase b y Fre n ch
b an ke rs of securities in the L o n d o n m arket, w hich se
curities had been affected b y the h igh er rates for
m o n e y p re v a ilin g in L o n d o n , as noted last week;
possibly, too, operations incident to the then pen ding
settlem ent on the L o n d o n S to c k E x c h a n g e had som e
influence in ca u sin g su ch purchases, for, aftor the
settlem ent, exchan ge at P a ris o n L o n d o n receded one
centim e, recovering, how ever, later.
B u ild in g con struction returns for J u ly 1908 from
va rio u s sections of the U n ite d States fu rn ish m ore
c o n v in c in g evidence of a slight tu rn to w a rds im p ro v e
m ent in conditions th a n have been discernible in other
recent statistical exhib its. W e show ed last week th at
b a n k clearings a n d failures returns were m a k in g less
un favo ra ble co m p a riso ns w ith p re viou s years as the
m o n th s passed, bu t at the sam e tim e aggregates for
sections or for the Avhole co u n try co n tinue d to sh o w
losses. B u t it has rem ained for the b u ild in g in d u stry
T h is failure of F re n c h b an ke rs to secure this con — itself an im p o rta n t barom eter of business co n ditio n s
sig n m e n t of gold is not regarded as in d ica tin g a sa tis — to fu rn ish the first really ta ngible evidence th a t o u r
faction of the dem an d b y su c h b a n ke rs for the m etal,
affairs are em erging from the le th a rg y the d isturbance
th o u g h in the absence of in fo rm a tio n as to the purpose
for such accum ulatio n of gold, it is im possible to sa y
w hen requirem ents w ill be fu lly met. D u r in g the
of last fall induced.
first s ix m o n th s th is year, according to trade returns,
F re n c h im p o rts of gold b u llion am ounted to £ 1 4 ,2 3 9 ,
600, an d of coin to £6,256,280; of the bullion, L o n d o n
contributed £ 8 ,492,240, a n d of the coin £4,246,876;
exp orts in th is in te rva l were o n ly £ 578,520. I f such
accum ulations have been effected p re p a ra to ry to the
negotiation of a new Itu s s ia n loan, as has been re
sections of the co u ntry, and an aggregate of contracts
for the m o nth well below the figures for the like in te rval
of the p re viou s year, th a t a com pilation like th a t fo r
J u ly alm ost taxes credulity. T h a t com pilation, w hich
covers returns from 42 lea ding cities, secured b y
the “ A m e rica n C o n tra cto r,” to w hich we have added
results for eight other im p o rta n t m unicipalities, sho w s
ported, the gold ho ld in gs of the B a n k of F ran ce m a y
not even yet be sufficient; if, how ever, the purpose
an aggregate o u tla y for co n struction of $50,204,726
arra nged for in J u ly 1908, against $49,350,000 for the
of the B a n k is to dom inate the E u ro p e a n financial
situation , it w o u ld seem th a t th is has been p ractically
accom plished.
I t m a y be observed, th o u gh , th a t w hile P a ris has
been accum ulatin g gold, p a rtly th ro u g h the device of
m o n th of 1907, or an increase of l % % .
W e have been so accustom ed
recently to receive reports in d ic a tin g a com parative
absence of a c tiv ity in b u ild in g operations in m ost
T h e g a in disclosed is, of course, v e ry sm all, but is
a m a rked im p ro vem en t over the losses ra n g in g from
4 4 % in J a n u a ry do w n to 1 5 % in Ju n e 1908. F u r th e r
more, in the current ta b u la tio n of 50 cities, 31 report
attractin g the m etal b y the offer of especial induce an augm entation in operations, the ratio in som e in
m ents, as w as the case w hen go ld w as w ith d ra w n from stances being decidedly heavy. W e noted a m o n th
N e w Y o r k , the G e rm a n R e ic h s b a n k has adopted a ago, as a conspicuous feature of the Ju n e returns, the
sim ila r device for attra ctin g the m etal, th ro u g h in m arked increase in b u ild in g a c tiv ity in the B o ro u g h
terest-free advances for lo n g periods. Therefore, u n of M a n h a tta n , construction arra nged for callin g fo r
til the R e ic h sb a n k ’s needs shall also be satisfied, the an o u tla y 3 5 % greater th a n in 1907. T h e J u ly exh ib it,
T H E CHRONICLE
AUG. I * 1908.|
377
how ever, is m u c h m ore satisfactory, the p erm its issued
cove ring intended expenditures of $13,684,542, against
o n ly $7,500,575 in the sam e period of 1907, or a ga in
of 8 2 % . W o r k in the other b o ro u g h s of G reater N e w
Y o r k , p a rtic u la rly in B ro o k ly n , continues less active,
F o r the th ird quarter of 1908 the d istrib u tio n to
larger operations th is y e a r th a n last. I n the F a r W e st
the low est 0 . 4 8 % in 1897.
T h e results for the th ird quarter of 1908, com bined
shareholders reaches $400,125, or a n average of
1 . 5 9 % o n the ca pita lization of $25,125,000, ow ners in
all bu t one of the th irty -fo u r m ills o u r co m p ila tion
covers p a rticip a tin g. T h e m a jo rity of the m ills h ave
but nevertheless the situ a tio n appears to be slo w ly im m a in ta in e d the preceding y e a r’s rate, tw leve h ave
p ro v in g. A t a n y rate the increase in M a n h a t ta n is p a id out less th a n a y e a r ago, one has passed its
so h e a vy as to overcom e the fallin g off in other b o r dividen d, a n d the rem aind er (six) ha ve increased the
o ughs and leave the result for the G reater C it y a ga in am o u n t distributed. I n the th ird quarter last y e a r
the am o u n t d istrib u te d w as $664,850, or $264,725
of 2 3 % .
T u r n in g to other sections of the co u ntry, we find m ore th a n the aggregate th is year, the average rate
encouragem ent. A t the S o u th su ch cities as L o u is h a v in g been 2 . 7 0 % . I n the decade p rio r to th a t tim e
ville, N e w O rleans, M o b ile and N a sh v ille report m uch the high e st rate of d iv id e n d w as 1 . 8 1 % in 1900 a n d
Sa lt L a k e C ity , P o rtla n d , Ore., O m a h a a n d D e n v e r
are conspicuous for percentages of gain, and in the
M id d le W e st St. Joseph, F o rt W a y n e , T o ledo a nd a
n u m b e r of other cities indicate the sam e aw akened
activ ity . I n the E a s t the sh o w in g is not so favorable
as elsewhere, bu t in a dditio n to N e w Y o r k there are
w ith those for the half-year th a t preceded it, fu rn ish
a v e ry satisfactory nine -m o n ths exh ib it, even th o u g h
less favorable th a n th a t for 1907. B u t it m u st be
rem em bered th a t last yea r extra or large d ivid e n d s
were a feature, th a t m eans being adopted to p u t
shareholders in possession of a p o rtio n of the large
a few cities, am o n g w hich m a y be m entioned N e w
H a v e n , Paterso n, Syracu se, W a sh in g to n , N e w B e d fo r d , surp luses accum ulated in th a t a nd th e p re vio u s year.
W ilk e s-B a rre and N o rfo lk , where the cost of con F o r the nine m o n th s of 1908 th irty -fo u r co rp o ra tion s
stru ctio n contem plated ru n s ahead of th at in J u ly 1907.
C o m b in in g the results for J u ly w ith those for the
ha ve returned to sto ckho ld ers $1,362,425 o n a capital
of $25,125,000, or an average of 5 . 4 2 % , w hich co m
pares w ith 7 . 2 7 % in the corre sp on d ing period of 1907
half-year discloses clearly ho w great has been the la c k
of a c tiv ity in b u ild in g operations in 1908— a le th a rgy a n d 4 . 8 7 % in 1906. T h e low est nin e -m o n th s rate in
w hich, it is hoped, the latest results presage the end o u r record is th a t for 1898— 1 . 3 3 % .
T h o se in possession of the sto c k of F a ll R iv e r estab
of. E n ga ge m e n ts for co n struction w o rk at 50 lea d in g
lishm
en ts cannot bu t be pleased w ith the re tu rn th u s
cities for the seven m o n th s cover intended o u tla y s of
far
received
in 1908. T he re is a dispo sitio n, how ever,
o n ly $233,627,000, against $342,494,000 for 1907, o r
a decrease of 3 1 % % , w ith the loss from 1906, the y e a r to lo o k for a less sa tisfa cto ry d istrib u tio n in the final
of greatest activity, appreciably heavier. O n ly fo u r quarter of the year. I t is claim ed th a t current c o n d i
of the fifty cities e xh ib it figures m e a su ra b ly greater tio ns in the m arket are such as to w a rra n t a greater
th a n a year ago, bu t at a nu m b er of p o in ts the falling curtailm ent of output, as n o tw ith sta n d in g the reduc
off is alm ost nom inal.
O n the other han d, m a n y
tio n of p ro d u ctio n a lre ady resorted to, sto cks of goods
m unicipalities record con spicu ous losses, the decrease
of 3 4 % % in Greater N e w Y o r k (expenditures d ro p p in g
in first rtands are accum ulatin g.
O n the other han d,
we are not inclined to predict. B u t m a n y of th o se in
a p o sitio n to diagnose the situ a tio n claim to discern
in gs in all branches of trade a n d in d u st ry are lo oked
there is a d isp o sitio n in som e quarters to ta ke a m ore
fro m 127 m illions to 83 m illio n s), w hile not the h e a vie st, o p tim istic vie w of the situation , especially since there
h a v in g a m ost im p o rta n t b e a rin g u p o n the total for have been discernible in other directions som e sig n s
of im p ro v in g conditions. I n fact, w ith good crops
the whole country.
A s to the im m ediate future of the b u ild in g trade a n d the P re siden tial election passed, better su rro u n d
v e ry e n co uragin g signs. M u c h greater a c tiv ity th a n is
now apparent is predicated b y the “ C o n stru ctio n
N e w s” u p o n the a u th o rity of architects, prom oters
of b u ild in g co n struction and others, w ith a h e a v y in
crease in b u ild in g th ro u g h o u t the W e st probable in
the near future.
T h e co tto n -m a n u fa ctu rin g in d u stry at F a ll R iv e r,
n o tw ith sta n d in g the in a c tiv ity p re va ilin g in recent
m o n th s an d the m aterial curtailm ent of profits as a
result of continued low prices for goods a n d rela tively
h igh cost of the ra w m aterial, has m ade a v e ry sa tis
factory d istrib u tio n of d ivid e n d s for the th ird quarter
o f 1908. C o n d itio n s h a v e in no sense bee nessen tially
different in th is latest three m o n th s’ period th a n in
th e one im m e diately preceding it, a n d in neither were
the earnings of the esta blishm ents su c h as to w a rra n t
for.
T h e advance statem ent of e xp orts of breadstuffs,
cotton, p ro vision s, &c., from the U n ite d States
d u rin g Ju ly , m ade p u b lic o n W e d n e sd a y , indicates
th a t the aggregate of sh ip m e n ts of com m odities
hence to foreign destinations for the m o nths, w hen
com pleted, w ill give a to tal sm aller th a n in a n y
m o n th since A u g u s t 1904, w hen the outflow of m er
chandise reached a value of o n ly $92,253,881. T h e
statem ent of J u ly 1908 e xp orts of lea d in g articles
as issu ed covers sh ip m e n ts of breadstuffs va lued at
bu t $8,616,134, a ga in st $10,869,246 for the sam e
m o n th of la st y e a r a nd $7,752,007 in 1906. T h e
im p o rta n t decline from last ye a r is due to the fact
th a t the outflow of corn reached the p ra c tica lly n o m
B u t in 1906
inal total of
415,494 bushels, a ga inst 7,238,745
b ushels a yea r ago, the aggregate efflux of w heat
and flour h a v in g been well ahead of 1907 in both
* and 1907 operations were of a ve ry rem u nerative
character, p e rm ittin g of large d ivid e n d d istrib u tio n s
q u a n tity and value. C o tto n e xp orts for the m o n th
e xh ib it an increase in value o ve r the corre sp on d ing
and h e a v v augm enta tio ns of su rp lu s accounts. A n d
it is u n d o u b te d ly from p re vio u sly accum ulated s u r
period of last yea r of a little in excess of one m illion
dollars, the co m pa riso n being between $6,417,188
a n d $5,301,339. I n the m o n th of 1906 shipm ents
a satisfactory return to shareholders.
p lu se s th a t 1908 d ivid e n d s are being la rge ly draw n .
378
T H E CHRONICLE
[VOL. LXXXVI1.
reached a value of $9,580,748 a nd in 1905 were $17,
crease in cash w as $2,403,800, w hile there w as
455,875.
decrease in the reserve b y $124,825, to $57,1 3 8 ,6 5 0 ,
or, after d ed uctin g U n ite d States deposits, $59,445,300.
The efflux of p ro v isio n s in J u ly covered
a valu e about 5 % m illio n s of dollars less th a n in
the m o n th of 1907 a n d fell 3 % m illions below the
sam e period of 1906; bu t m ineral oil exp o rts were
the heaviest o n record a n d exceeded J u ly of the pre
vio u s ye a r b y 1J^ m illions a nd the m o n th of 1906
by
m illions. T h e m ovem ent of cattle a n d hogs,
co m p a ra tiv e ly sm all in a n y event, w as less in J u ly
of 1908 th a n in 1907. C o m b in in g the item s to w hich
reference has been made, we have a total value of
sh ip m e n ts of $37,153,531, an aggregate n e a rly 734
m illio n s of dollars below th a t of J u ly of the preceding
y e a r and 3 % m illions sm aller th a n in 1906. A n d ,
as sa id above, not since A u g u s t 1904, w he n breadstuffs and cotton e xp orts were especially sm all, has
there been as low a total as th is y e a r’s, w h ich m ore
over, is o n ly 5 m illio n s greater th a n then. T h e
a
The m a rket for m o ney w as genera lly easy th is week
w ith the exception of th a t for J a n u a ry a n d F e b r u a ry
m aturities.
There are still no in d ica tio n s in the rates
for dom estic exchange on N e w Y o r k of w ith d ra w a ls
from local in stitu tio n s of in te rio r b a n k reserves to
meet req uirem ents for crop d istributio n ; the m o v e
m ent of the ne w ly harvested w heat is large, b u t
p ro v isio n therefor seem s to be lib e ra lly extended b y
co u n try b a n ks. O fferings of tim e loans are m u ch in
excess of the dem and for all m aturities up to the e n d
of the year, the firm tone for later dates encourages
negotiations of finance and other lo an bills b y fo re ign
bankers. T he re is a better su p p ly of com m ercial p a p e r
of first class a n d the dem a n d therefor is well d istrib u te d
loss from last year (734 m illio n s) noted above does th ro u g h o u t the E a s t a nd the M id d le W estern sections
not, of course, fu lly m easure the fa llin g off in our so th a t there is no a cc u m u la tio n of nam es.
M o n e y on call loaned at the S t o c k E x c h a n g e th is
exp ort trade in J u ly as com pared w ith the m o n th
th is w as the
a ye a r ago. O n the c o n tra ry decreases in shipm ents w eek at 1 @ 1 3 4 % , a v e ra g in g 1 % ;
of other com m odities ha ve been of im p o rta n t am ount, m in im u m reported b y b a n k s a n d tru st com panies.
so th at the aggregate value of the J u ly 1908 o u t T im e loans o n good m ix e d S to c k E x c h a n g e collateral
w a rd m o vem en t of goods is lik e ly not to exceed were quoted, th o u g h w ith ou t b u siness being reported,
at 2 % for s ix t y a n d 234% for n in e ty days. A s the
$ 1 0 0 ,0 0 0 ,0 0 0 .
A s regards im p o rts of m erchandise d u rin g the
m o n th , the o n ly com plete da ta ye t in o u r possession
are th o s e fu rn ish e d b y the N e w Y o r k C u sto m H o u se
b u t as a p p ro x im a te ly 6 0 % of the c o u n try ’s total
m p o rts pass th ro u g h th is porrt, th e figures in h a n d
s h o u ld serve as a fa ir b a sis u p o n w hich to predicate
the general result. F o r J u ly 1908 the value of the
in w a rd m erchandise m o ve m e n t at N e w Y o r k w as
latter w ill m ature in the height of the c ro p -m o v in g
season, w hen renew als m a y rule higher, borrow ers
prefer to m a ke contracts for fo u r m o n th s at 3 3 4 % .
T h e five m o n th s’ m a tu rity , at 3 ) 4 @ 3 M % , a n d the
s ix m o n th s at 3 j3 4 @ 4 % , are even m ore desirable.
So m e of the largest N e w Y o r k b a n k s a n d tru st com
panies are reported to have loaned considerable
a m o u n ts at such rates for these over-the-yea r periods.
C om m ercia l pape r of h igh grade is quoted at 3 @ 3 ) 4 %
$49,729,151, aga in st $75,554,451 in the m o n th of
1907, o r a decline of alm o st 26 m illion s. In c o m p le te for s ix t y to n in e ty d a y endorsed bills receivable a n d
re tu rn s from som e oth er p o rts also indicate th a t the for four m o n th s’ single nam es; other unendorsed p a p e r
inflo w th is y e a r has been sm a ller th a n last. A lt o of fo u r to s ix m o n th s’ m a tu rity is 4 @ 4 ) 4 % .
gether, therefore, it w o u ld appear to be co n se rva tive
to assum e th at the aggregate loss in the c o u n tr y ’s
m erch and ise im p o rts th is J u ly , as com pared w ith a
y e a r ago, has been a b o ut 40 m illio n s of dollars. C o n
sid e rin g th is decline in im p o rts in connection w ith
the decrease in exp orts, w h ich we estim ate at app io x im a t e ly 28 m illion s, the net exp ort balan ce
for J u ly w o u ld be a ro u n d 16 m illio n s of dollars,
T h e B a n k of E n g la n d rate of discount re m a in s
un cha nge d at 234% .
T h e cable reports discounts of
s ix t y to nin e ty d a y b a n k bills in L o n d o n 1 3 4 @
1*Hj % T h e open m a rket rate at P a ris is 1 @ 1 3 4 %
and at B e rlin a n d F ra n k fo rt it is 2 J 4 @ 3 % .
Ac
co rd in g to o u r special cable from L o n d o n , the B a n k
of E n g la n d gained £ 4 9 3 ,4 6 7 b u llion d u rin g the week
and held £36 ,5 5 0 ,9 0 3 at the close of the week. O u r
correspondent fu rth er advises us th a t the ga in w as
in cre a sin g the calendar y e a r’s 7 m o n th balance of
alm ost w h o lly due to receipts from the interior of
e xp orts to ab o ut 360 m illio n s, a record for the p e rio d
Great B rita in , the im p o rts h a v in g been o n ly £ 2 6 ,0 0 0 .
covered, a n d n o t far fro m d oub le the to tal in the lik e
T h e details of the m ovem en t into a n d out of the B a n k
period of the p re vio u s year.
were as follows: Im p o rts, £ 2 6 ,0 0 0 (of w h ich £ 1 6 ,0 0 0
from Central A fric a a n d £ 1 0 ,0 0 0 fro m S o u th A fric a );
T he re w as no change in official rates of d isco u n t b y
exports, nil, and receipts of £ 4 6 7 ,0 0 0 net from the
a n y of the E u ro p e a n b a n k s th is week; com pared
interior of Great B rita in .
w ith last week, unofficial or open m a rket rates were
easier at all the chief centres.
T h e foreign exchange m arket w as quiet and gener
a g a in s t 4 m illio n s a y e a r ago
a n d 9 m illio n s in 1906,
T h e b a n k statem ent of last week, as w as the case in ally firm early in the week; one feature w as an urgent
the p re vio u s week, disclosed m ore or less im p o rta n t dem and on W e d n e sd a y for the M a u rita n ia ’s m a il,
differences between the actual a n d the average of the in consequence of w hich rates s h a rp ly rose, but w hen
item s of loans, deposits a n d cash, th o u g h su ch differen that special in q u iry had been satisfied, the tone
ces were not so great as were those sh o w n in the report grew easier. A s an incident of the L o n d o n S to c k
of b a n k conditions A u g . 1. A v e ra g e loans increased E x c h a n g e settlem ent there w as free selling of A m e r i
last week 2 2-5 m illions; the actual ga in w as $8,628, can securities, w hich created a dem an d for cables.
100. A v e ra g e deposits were a ugm ented 3 m illions; the
actual increase w as $10,114,500. T h e average cash
ga in w as less th a n one m illio n a n d the increase in
reserve o n ly $140,700, to $59,224,275; the actual in
F o re ign ban ke rs w ho last week lib e ra lly drew a gainst
their balances and credits in E u ro p e contributed
o n ly a co m p a ra tiv e ly sm a ll volu m e of exchan ge
this week; it w as reported th a t th e y were inclin e d
Atm. 15 1908.|
THE CHRONICLE
to withhold offerings in order to prevent too great
a recession in rates, which would be disadvantageous
when subsequently they sought to dispose of their
bills. Moreover, by thus regulating the supply,
speculative selling would be encouraged and the
resulting short interest would tend to give support
to the market. Commercial bills were offered in
good volume, those against wheat being most abund
ant, and the demand therefor was so urgent as
to cause their prompt absorbtion at full rates. Cotton
bills for delivery in October were in the market, but
business therein was moderate, bankers preferring
to wait for spot drafts. The market was lower on
Thursday because of a light demand. On Friday
there was an advance of 15 points for long and of 5
points for short and for cables.
Compared with Friday of last week the market
on Saturday was easy at a fall of 10 points for long
to 4 85@4 8505, of 5 points for short to 4 8645@
4 8650 and of 10 points for cables to 4 8660@4 8665.
On Monday there was a recovery of 5 points all
around— in long to 4 8505@4 8510, in short to
4 8650@4 8655 and in cables to 4 8665@4 8670.
On Tuesday the tone was easier and long fell 10
points to 4 8495@4 8505, short 5 points to 4 8645
@ 4 8650 and cables to 4 8660@4 8665. On Wednes
day there was a rise of 5 points in long to 4 8490@
4 8510, in short of 10 points to 4 8655@4 8660 and
in cables to 4 8670@4 8675. On Thursday the
tone was heavy at a fall of 15 points for long to 4 8485
@ 4 8495, of 10 points for short to 4 8640@4 8650
and of 10 points for cables to 4 8660@4 8670. On
Friday there was an advance of 15 points for long
and of 5 points for short and for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers :
Wed., Thins., Frl..
F t1..
Mon., Tucs.,
Aug. 7 Aug. 10 Aug. 11 Aug. 12 Aug. 18 Aug. 14
Crown
J00 days ■1 86
Brothers * Co__ ..IS Ig h t-- ■1 87 'A
100 days •1 86
Kidder. Peabody
& Co...................... -.\Sight-. 4 87 Vi
Bank British
J00 days 1 80
North America
.-\ S lgh t-. 4 87
] 00 days 4 86
Bank of
Montreal........... .. - - ISIght. - 4 87 ^
J60 days 4 SO
Canadian Bank
of Commerce____ . . 1Sight - - 4 87 'A
Ilcldelbach, Ickcl/ 00 days 4 80
helmer & Co_____ ..\Slght- - 1 87H
Lazard
100 days 4 80
Freres .................. --\Slgh t-. 4 87 H
Merchants’ Bank
(00 days 4 80
of Canada_______ --IS Ig h t.. 1 87M
86
S7H
86
87^
80
87^
80
S7H
86
87 H
86
87^
SO
87>a
80
Z7'A
SO
87 H
86
87 A
86
87 A
86
87 A
86
87H
80
87 A
so
8714
80
8714
86
8714
80
87)4
86
8714
86
8714
86
8714
86
8714
86
8714
80
8714
86
8714
86
8714
86
8714
86
8714
80
S714
80
8714
86
8714
80
8714
80
8714
86
8714
86
8714
80
S714
86
8714
86
8714
86
8714
86
8714
The market closed on Friday at 4 85@ 4 8510
for long, 4 8645@4 8650 for short and 4 8665@
4 8675 for cables. Commercial on banks 4 84%
@ 4 84% and documents for
payment
4 84@
4 84% . Cotton for payment 4 84@4 84% , cotton
for acceptance 4 84% @ 4 84% and grain for pay
ment 4 84% @ 4 84% .
The following gives the week’s movement of money
to and from the interior by the New York banks.
IFccA; ending Aug. 14'1908.
Shipped by
Received by
A1. Y . Banks. If. Y . Banks.
Net Interior
Movement.
Currency.................... .............. - ............
Gold
......................
40,207.000
910,000
$3,10.5,000 Gain $3,101,000
142,000
804,000 Gain
Total gold and legal tenders...........
$7,153,000
$3,910,000 Gain 33,243,000
With the Sub-Treasury operations the result is as
follows.
Week eiullng Aug. 14 1908.
Banks' Interior movement as above
Into
Banks.
Out of
Banks.
$7,153,000
30,100,000
$3,910,000 Gain $3,243,000
26,500,000 Gain 3,600,000
$37,253,000
$30,410,000 Gain $6,843,000
Net Change In
Bank Holdings.
379
The following table indicates the amount of bullion
in the principal European banks :
Aug. 13 1908.
Banks o]
Gold.
England..
France . .
Germany.
Russia___
Aus.-Hun.
Spain____
Italy.........
Net h’lands
Nat.Belg..
Sweden . .
Swltz’land
Norway. .
Silver.
Aug. 15 1907.
Total.
Gold.
Silver.
Total.
£
£
£
£
£
£
36.550,903
36,550,903 35,854,881
35,854,881
128,845,471 36,250,040 165,095,511 112,051,480 38,788^000 150,839,480
39.237.000 16,261,000 55.498.000 31.654.000 12,866,000 44.520.000
115,528,080
6,904,000 124,217,000
7.994.000 123,522,000 117,313,000
47.025.000 13.354.000 60.379.000 45.431.000 12.193.000 57.624.000
15.681.000 27.058.000 42.739.000 15.570.000 25.607.000 41.177.000
4,724,100 38,569,100
36.736.000
4.400.000 41.136.000 33.545.000
7.704,700 4,223,300 11.928.000 5.901.000 5,631,200 11,532,200
0,148,000 3,211,333
4.817.000
2,049,333
4,098,667
1,605,667
4.030.000 4.138.000
4.138.000
4.030.000
1.746.000
4.305.000
4.305.000
1.746.000
1.736.000
1.736.000
1.800.000
1.800.000
Total week 441,477,741 111,589,673 553,067,414 408,515,694 108,318,967 516.S34.661
Prev .week 439,357,679 110,943,321 550,301,000 407,511,444 108,449,809 515,961,313
W
MR. B R Y A N ’S SPEECH OF ACCEPTANCE.
The business public expected nothing from Mr.
Bryan, and therefore will not be disappointed with
the speech he made at Lincoln, Neb., on Wednesday,
when he was formally tendered the nomination of the
Democratic Party for President of the United States.
By this we mean that, as Mr. Bryan has always been
an out-an-out radical, no one looked for any conserva
tive leanings on this occasion; the man’s career and
past utterances had rendered such a possibility out of
the question unless he was to stultify himself, which he
was sure not to do. At the same time, his speech this
week serves to bring out in a striking way the greatly
changed situation and conditions under which his
canvass is being conducted the present year as com
pared wit'h the conditions existing on the two previous
occasions— first in 1896 and again in 1900— when he
sought to gain the Presidential office.
In these former cpntests he alone among the can
didates of the two leading parties occupied radical
ground— radical not alone on the money question, but
on the railroads, on corporations, on capital and
wealth, and on kindred matters— and he was opposed
by a man who was the embodiment of conservatism,
the late President McKinley; he accordingly had to
justify his doctrines and to defend them. To-day,
owing to the pernicious activity of President Roose
velt, radicalism has gained a stronghold in the ranks
of the Republican Party, and as Mr. Taft has de
clared unqualified adherence to the doctrines and
policies of Mr. Roosevelt, Mr. Bryan finds himself
on common ground with his opponent. Instead
of being called upon to defend his views, he now
makes citations from the statements and utter
ances of Mr. Roosevelt and Mr. Taft in support of
his contentions. And this he does in the cleverest
and most adroit manner, using the remarks of his
opponent and the present occupant of the Presidential
chair as a basis for a sweeping arraignment and indict
ment of the party in power. In thus training the guns
of his political opponents on themselves, he shows
that he is a dialectician of the highest order. Despite
the nature of his logic, however, we doubt that in
telligent voters are any more ready to accept him for
the Presidency than they were eight and twelve years
ago.
Mr. Bryan construes the fact of his having been
nominated a third time, after having twice been nomi
nated before and defeated, as an indication of “ a sub
stantial and undisputed growth in the principles and
policies for which” he has been contending. In this
the great mass of people will not p^ree with him. Some
will be so unkind as to say that he has simply hoodooed
380
THE CHRONICLE
the Democratic Party and turned his .control oyer it
to his own advantage. The words quoted, however,
furnish the key to his speech. It is evidently his
belief that radicalism as applied to the material
questions of the day is in the ascendant, has in fact
triumphed, and the only point for consideration is
how the movement shall most speedily and most ef
fectively be carried still further. He says that no
matter which way we turn, no matter to what subject
we address ourselves, the same question confronts
us: “ Shall the people control their own government,
and use that government for the protection of their
rights and for the promotion of their welfare, or shall
the representatives of predatory wealth prey upon a
defenceless public, while the offenders secure im
munity from subservient officials wfiom they raise to
power by unscrupulous methods?” This, he declares,
is tire issue raised by the “ known abuses” to which
Mr. Taft refers. He then quotes from tfiat extra
ordinary message which Mr. Roosevelt sept to Con
gress at the close of last January, and in which the
President spoke “ of the wealth accumulated op a
gipnt .scale by all forms of iniquity, ranging frqm
the oppression of the wage earner to unfair and un
wholesome methods of crushing out competition, and
to .defrauding the public by stock-jobbing and the
manipulation 0,f securities,” and to which the Presi
dent then added these words:
“ Certain wealthy men of this stamp, whose .con
duct should be abhorrent to every man of. ordinary
decent conscience, and who commit the hideous wrong
of teaching our young men that phenomenal business
success must ordinarily be based on dishonesty, have,
during the last few months, made it apparent that
they haye banded together to work for a reaction.
Their endeavor is to overthrow and discredit all who
honestly administer the law, to prevent any additional
legislation which would check and restrain them, and
to secure, if possible, a freedom from all restraint, vvhich
will permit .every unscrupulous wrongdoer to do what
he wishes unchecked, provided he has enough money.”
A/ter quoting the above statement of Mr. Roose
velt’s, with the comment, “ What an arraignment of
the predatory interests,” Mr. Pry an asks, “ Is the
President's indictment true? And, if true, against
Whom was the indictment directed? Not against the
Democratic Party.” He then quotes Mr. Taft (in
the latter’s speech of acceptance) to the effect that
“ prominent and influential members of the community,
spurred by financial success and in their hurry for
greater wealth, became unmindful of the common rules
of business honesty and fidelity, and of the limitations
iraposed.bylaw upon their actions.” He also adds Mr.
Taft’s further statement regarding “ the revelations of
the .breaches of trusts, the disclosures as to rebates and
discriminations by railroads, the accumulating evi
dence of f he violations of the anti-trust laws by a num
ber o.f corporations, and the over-issue of stocks and
bonds of inter-State railroads for the unlawful enrich
ing of directors and f° r the purpose o f concentrating
the control of the railroads under one management.”
Mr. Taft had enumerated all these things and stated
tbut they had “ quickened the conscience ,of the people
and brought on a moral awakening.” But Mr. Bryan
proceeds to remind his opponent that during all this
time Republican officials presided in the Executive
Department, filled the .Cabinet, dominated the Senate,
controlled the House of Representatives and occupied
most o f the Federal Judgeships. He refers to the
[VOL. LXXXVII.
boast of the Republican platform of four years ago,
that since 18Q0, with the exception of two years, .the
Republican Party had been in control of part or of all
the branches of the Federal Government, ;that for
two years only was the Democratic Party in a position
either to enact or repeal a law, and then indulges in
the following: “ Having drawn the salaries, having
enjoyed the honors, haying secured the prestige,let the
Republican Party accept the responsibility. Why were
these ‘known abuses’ permitted to deyelop? Why
have they not been corrected? If existing laws are
sufficient, why have they not been enforced? AH of
the executive machinery of the Federal Government
is in the hands of the Republican Party. Are new
laws necessary? Why have they not been en
acted?”
It will be seen that Mr. Bryan’s object is to show
that, with both parties committed to substantially
the same policies and doctrines, *the utterances of
the Republican leaders must be accepted as .evi
dence that the Republican Party has been unable to
accomplish anything for the removal of the alleged
evils, and that, consequently, the task most be com
mitted to the opposition party, with Mr. Bryan at the
head. His .entire argument is along these lines, and
it must he admitted that thereby he has very neatly
tqrned the tables on his opponent. What, for in
stance, could be more effective than the question “ Can
Mr. Taft promise to be more strenuous in the prosecu
tion of wrong-doers than the present Executive?
Can he ask for a larger majority in the Senate than bis
party now has? Does he need more Republicans in
the House,of Representatives or a Speaker,of moye un
limited authority?” Mr. Bryan, however, apparently
forgets that he is playing with a two-edged sword. The
kind of reasoning he employs, if effective in attracting
radicals, is likely to be equally effective in repelling
conservatives— and we are inclined to think that the
conservative vote will determine the election.
With reference to railroad legislation, he asks why
the Inter-State Commerce Commission was obliged
to wait for ten years before being given the enlarged
powers it had been demanding. He claims that when
the President finally asked for legislation, he drew
his inspiration from three Democratic national plat
forms and received more cordial support from theDemqcrats than from the Republicans, which js unde
niably true. The Republicans in the Senate, be
points out, deliberately defeated several amendments
offered by Senator La Follette and supported by the
Democrats— amendments embodying legislation asked
by the Inter-State Commerce -Commission. One of
these amendments authorized the ascertainment of
the value of railroads. Mr. Bryan urges that Mr.
Taft is now seeking to “ rescue his party from the dis
astrous results of this act by expressing himself in a
qualified way in favor of ascertaining the value of
railroads.” As noted above, Mr.'Taft in his letter o.f
acceptance had spoken of the over-issue of stocks and
bonds of railroads “ for the unlawful enriching of di
rectors and for the purpose of concentrating the con
trol of the railroads under one management.” To this
Mr. Bryan replies: “ My honorable opponent has, by
his confession, relieved me of the necessity of furnish
ing proof; he admits the condition and he cannot avoid
the logical conclusion that must be drawn from the
admission.”
Aug. 15 1908, i
THE CHRONICLE
By this process of reasoning the Democratic candi
date reaches the conclusion that “ so long as the Re
publican Party remains in power, it is powerless to
regenerate itself. It cannot attack wrPng-doihg in
high' places without disgracing many of its prominent
members, and it therefore uses opiates instead of the
surgeon’s knife. Its malefactors construe each Re
publican victory as an indorsement of their conduct
and threaten the party with defeat if they are inter
fered with.” “ Not until that party passes,” he ar
gues, “ through a period of fasting in the wilderness
will the Republican leaders learn to study public
questions from the standpoint of the masses.” All
this obviously is very clever, from the logician’s stand
point, but it may be questioned whether it will make
any votes for Mr. Bryan.
As to Mr. Bryan’s recommendations, he has re
served for future consideration certain important ques
tions, and therefore does not touch upon them in his
present speech. He asserts, however, that next to
the corrupt use of money, the present method of
electing United States Senators is the most' responsi
ble for the obstruction of reforms, and accordingly
advocates-the popular election of Senators. A third
instrumentality employed to defeat the will of the
people, as he puts it, is found in the rules of the
House of Representatives. The Republican Party,
in his view, is committed to the met,hods now in
vogue in the House of Representatives. On the other
hand, the Democratic Party is pledged to a revision
of the rules. This is all of positive, definite recom
mendation there is in the speech.
We may admit Mr. Bryan’s statement that if the
voters are satisfied with the record of the Republican
Party and with its management of public affairs, no
one can reasonably ask for a change in administration.
The converse by no means follows, that if they are dis
satisfied they must turn to Mr. Bryan as their savior.
It all depends upon what grounds they feel dissatis
fied-—if because the Roosevelt' policies have not been
radical'enough, then perhaps Mr. Bryan might answer
as likely to go a step further in revolutionary practices
and methods. If, on the other hand, they are dis
satisfied because the Roosevelt policies have not been
at all to their liking, they will certainly not select Mr.
Bryan as an instrument for securing greater'conserva
tism. Such a course would be like jumping from the
frying pan into the fire.
Mr. Bryan tells us that the Democratic Party—
which has fallen so completely under his domination—
is not the enemy o f1any legitimate industry or of hon
est accumulations.
It is,- on the contrary; if we are to
believe him, a friend of industry “ and1the ’steadfast
protector of that wealth which represents a service to
society.” “ T h e: Democratic Party does1 not se'ek to
annihilate all corporation's; it simply asserts' that, as
the Government creates’ corporations, it must retain
the power to regulate' and to control them and that
it should not permit any corporation to convert itself
into a monopoly.” But these fair-sounding phrases
will cleceive no one any more than similar utterances
on the part of Mr. Roosevelt have made conservative
people1reconciled to the latter's policies.
Men must be'judged by their acts and‘not by their
professions, and this iS: pre-eminently the"case'ori'th6‘
present occasion.1 Applying th'fit' test; Mr. Rfyan,
judged b y his; past career; fail's1to* fill Hie requirements
381
of those who think that the assaults on corporations,,
on railroads and on capital and wealth should cease.
Contrariwise, judging Mr. Taft by the same standard
having reference to his judicial temperament and his
record in public office and on the bench— the disposi
tion on the part of the moderate classes will be to think
that, as Chief Executive, Mr. Taft would act cautiously
and conservatively, notwithstanding his unconcealed
anxiety to make himself out a radical.
THE THINGS MR. B R Y AN OMITS.
It is admitted on all hands that Mr. Bryan’s speech
showed considerable shrewdness. This judgment
needs, however, to be somewhat qualified. In a
political way, the speech was legitimately adroit^
because it, to a large extent, as we show in the pre
ceding article, answered the speech of the Repub
lican candidate out of his own mouth. This was.
possible for several obvious reasons. One was that,
in so far as the policy of the past Administration
has been one of political agitation, and in so far as
Mr. Taft felt called upon to endorse the policy of
agitation, Mr. Bryan was naturally able to point to
his own superior qualifications in that direction. More
than this, the well-known relations between President
Roosevelt and Congress, which resulted in the refusal
of the legislative branch of government to carry into
effect the greater part of the extreme propositions ad
vanced by the President, gave Mr. Bryan the oppor
tunity, which he promptly embraced, of insisting that
Mr. Taft’s plea for reform must be futile because ex
perience had proved that a President’s efforts in such
directions, addressed to a Republican Congress, would
be blocked.
Argument of this sort may be taken for just what
it is worth; Mr. Bryan, in his employment of political
dialectics, is certainly entitled to the use of it. In
another way, the Lincoln speech of acceptance is
illegitimately shrewd, because of its careful evasion of
the real questions which are at stake in Mr. Bryan’s
candidacy, but whose discussion might lose votes.
These evasions are clearly of a nature to blind the voter,
if he' were so simple as to consent to be blinded by them.
For example, Mr. Bryan began his speech by declaring
that, if elected, he would not only regard the declara
tions of the Democratic platform as binding upon him,
but that, in his view, “ a platform is binding as to what
it omits, as well as to what it contains.” Tfiis is a
somewhat Delphic utterance. Some of Mr. Bryan’s
critics explain the remark about ignoring public ques
tions which the platform omits, by his wish to
escape being drawn into a currency debate. He had
some unpleasant experiences in that direction during
1900, when, it will be remembered, he endeavored to
talk'silver in the West, and anti-imperialism in the
East . The Eastern electorate resented the attempt to
face both ways, and showed'their feeling as to such
policy by their votes. Undoubtedly Mr. Bryan wbuld
be glad this year to have not a word said about the
currency, and in particular about the standard of
value, between now and election day.
But even if one were to waive the question of the
standard of value, which is not at stake just now, we
feel bound to observe that the omission of a declaration
of'policy on a given public question, in a party platforirf, can scarcely control the course of subsequent
evettfo. Any one' who recalls the experiences of the
382
THE CHRONICLE
[VOL. LXXXVII.
past few years will recognize in a moment the proba provision for such publicity, in the interests of honest
bility— we might almost say the certainty— that politics, will be adopted. Regarding popular election
emergencies will arise, usually with great suddenness, of Senators, readers of the “ Chronicle” are aware
which will force the administration to assume an that we have long conceded the importance of a
attitude, notably on fiscal questions, concerning which thorough consideration of this question, with a
no declaration had been made, or could have been view to reforming certain notorious abuses in elec
definitely made, in a presidential platform. There is tions to the Senate. Mr. Bryan refuses to accept
the question, for instance, of depositing the public Mr. Taft’s contention that this is not a party ques
surplus in banks, and of withdrawing it from banks. tion, and asks: What is a party question, if not a
On a score of occasions, in the past few years, efforts question which one political convention has refused
to handle this awkward problem, without regard to to consider and which the other has made prominent
the delicate machinery of finance, might have created in its declaration of purposes ? The retort is clever,
a situation of the utmost seriousness. We hardly need but in our judgment not in the least convincing.
refer to the position in which the Government was What Mr. I aft meant in saying that such popu
placed on the outbreak of the panic of last lar elections were not a party question was that
October.
they involve a Constitutional problem which is in no
The manner in which Mr. Cortelyou dealt with respect bound up with the fundamental principles
the situation in New York was creditable in the of either party, and this view of the matter is certain
highest degree to his administration. But every ly correct.
one now recognizes that the promptness and decision
To sum the matter up, our own opinion is that,
with which he acted were due to the qualities of the precisely as Mr. Bryan professes himself bound in
man and to the fact that his superiors gave him his policies by what the platform omits, as well as
his way. The most that we know of Mr. Bryan, in by what it contains, the voters are compelled to base
regard to any such exigencies as this, is obtained their judgment of Mr. Bryan himself, and of his fit
from his public statements on such questions as the ness for the Presidency, not only on what is con
relation of the Government to the banks, and the tained in his speech at Lincoln, but on what is de
Government’s functions in the issue of paper money. liberately omitted from it. Neither he nor any
We do not in the least exaggerate when we say that other public man can escape his own past until he
all of Mr. Bryan’s sympathies, if we are to judge is willing to recant his errors and bring forth fruits
from his own statements, are adverse to the banks meet for repentance. What Mr. Bryan’s notions,
and in favor of a policy which would lead directly principles and purposes are on a score of vital public
toward Government paper issues. It should not questions, such as the standard of value, the machin
be difficult to understand what mischief could be ery of paper currency, Government operation of
done by an effort to apply such principles and pre railways, and the restraint of labor union outrages
judices in another emergency of the sort, even without by the law, we have learned from his own lips. No
fresh legislation and without any declaration in the doubt the Lincoln speech was meant to conciliate
party platform.
And after all, is there not just the conservative East. If so, we imagine that it
a bit of absurdity in Bryan’s eager protest that the was thrown away. But we are equally convinced that
absence of declarations on any given question in the either this speech or a speech in the style of a political
platform means that the candidate' is to have no agitator would be thrown away in the great interior
opinions on the question— this when the candidate communities of the West, which have come, during
confessedly prepared the platform himself ? His the prosperous period of the last twelve years, to look
recourse is mere quibbling and evasion. Tradition upon property and the rights of property in a differ
as well as common sense, in an intelligent electorate, ent way from that in which they regarded them
recognizes first that a platform cannot possibly cover when Mr. Bryan was assuming to give voice to their
all questions on which the successful candidate will resentments in the campaign of 1896.
have to pass, and, second, that where the platform
is silent, the probable future policies must all the
THE
GUBERNATORIAL
QUESTION IN
more be judged from the record of the can
NEW YORK.
didate.
So far as Mr. Bryan, in his speech of acceptance,
Were it not that the election for Governor falls this
gets down to distinct issues, it may be stated that he time in the same year with the Presidential election,
takes a position on “ predatory wealth” , on publicity and that the local struggle is therefore, unhappily, domi
of campaign contributions, on the popular election nated by and made a factor in the larger one, Mr.
of United States Senators and on the modification Hughes would hardly be seriously considered for re
of the rules of the House of Representatives. What nomination by his party. Whatever desire for him
he has to say on the question of wealth consists exists at home is clearly outside the party organiza
merely in disputes over Mr. Taft’s assertion that tion, within which he has become objectionable if not
the people may trust the Republican Party for reform obnoxious; while elsewhere a part of the press has
of the alleged abuses. It would, perhaps, not be been induced similarly to urge that to pass him by
easy to say which of the two candidates gets the would lose an advantage which could be had here for
better of the dispute, purely as a matter of dialectics. the Federal ticket and also discourage that ticket in
But we doubt if this sort of verbal fencing will greatly other States by practically admitting that the party is
interest the average voter. As to publicity of cam under boss rule and not consistent in standing for
paign funds, we suppose that the Democratic and righteous reform. Such a contention loses its force
Republican candidates are at one in their judgment as soon as seriously looked at, since it is itself an
on this matter, and that whichever party triumphs, admission that the dominant party has sunk so low in
A ug. 15 11)08.j
THE CHRONICLE
the chief State that it has only one man to name as
representing personal integrity and the idea of political
duty. The argument that Mr. Hughes’s nomination is
a political necessity seems, therefore, to prove too
much, and thereby refute itself.
Personal fitness and political availability in a pro
posed candidate ought, of right and good morals, to
be the same question; as things go, they are two, and
the availability is always liable to be, and in this year
certainly is, the controlling one. Let it be made to
appear that Mr. Hughes will prove the largest votegetter, and we may best admit at once that all talk
about his fitness is academic, in the campaign sense.
But his fitness for public trust, exhibited plainly in
the very unusual lesson he has been giving for the
nearly twenty months of his tenure, is woven, in an
unusual manner, into the question of his availability;
therefore, we may be helped to estimate the latter by
very briefly conning over his record as a conductor
of public affairs. The things he has done need not
be discussed; they are so recent it will suffice to revive
public recollection of them.
He was not elected by a party vote, and he recog
nized this fact when he promised to give a really non
partisan administration; this promise, in appoint
ments and otherwise, he has not kept. One of his
first pledges was that he would introduce a change
by passing upon legislative measures when they came
before him for approval and by refraining from all
effort to influence the Legislature save by the pre
scribed and traditional recommendation. How sig
nally, he failed in keeping this pledge is notorious—
or would be had not the pledge itself been so generally
forgotten. It seems within bounds to say that no
State Executive for many terms past has gone so
far as he in coercing the Legislature to do his will rather
than its own. The most prominent instance was his
summoning the members back for a special session, an
act which virtually notified them that they could
not be dismissed until he had obtained what he
demanded. Even taking, if you choose, the view
of the importance of the race-track bills which Gover
nor Hughes’s warmest admirers take, this ought not
to be allowed to obscure the fact that he plainly went
counter to the intent of the Constitution as to special
sessions (while conforming to its letter) and that he
sought, by a species of compulsion and not by mere
recommendation, to make laws as well as enforce
them. For some years past the country has had
pressed upon it the proposition that certain alleged
reforms may be so desirable that revolutionary and
hurtful means for attaining them can be excused.
Is it not full time we began returning to solid ground in
this respect?
Next to the action against gambling at races,
Governor Hughes’s distinctive piece of work is the
Public Service Commission. This scheme was a part
of the anti-railroad wave which passed all over the
country, and created the momentum of popularity
which he began to use to enable him to push his
schemes through. This measure is all his, and he
must stand by it. We need only recall it to mind, for
it has proved as bad in results as it is in principle, and
the disruption it has produced in local transit is ex
hibited anew in the struggle at present over the
problem of transfers.. This scheme— with which
business is still struggling and the end of which nobody
383
can foresee— is enough, alone, to pass upon his fitness
for Executive responsibility.
Not satisfied with attempting to remove Superin
tendent Kelsey, he renewed the attempt, and failed,
last winter, by a much larger vote than before. He
put upon the State the cost (about $4,000) of the
needless and fruitless special inquiry which he set in
motion, while he refused to approve an appropriation
to reimburse Mr. Kelsey for the outlays that had
been forced upon him.
And at the close of the recent sessions, as we noted
at the time, he vetoed the modified insurance bills,
although, after announcing a public hearing and failing
to elicit one word of objection,' he had to set his own
alleged infallibility against a unanimous approval by
insurance men everywhere and an acquiescence in the
State broken by only one negative vote in the Legisla
ture.
It is easy to admit Mr. Hughes’s personal integrity
and his desire to obey a rigid although impracticable
conscience. His defects are temperamental: a lack
of a due sense of proportions; obsession by the danger
ous idea that good ends may rightfully be pursued by
bad means; a seeming notion that a minority is right
in proportion to its smallness and that consistency for
bids ever changing one’s views. Not more than one
or two other men in public life to-day so aptly illus
trate the wit of one who said that the mind of a bigot
is like the pupil of the eye, in that the more light is
poured upon it the more it contracts. He came into
view as a baiter of corporations; his position and fame
have grown from that experience, and he is unable to
rise above it or to see beyond it. Good intentions
may be granted to him to any extent; he is tempera
mentally unfit to hold any reins of power.
As to his political availability, the sole question is
whether he can bring out the party vote and add to it
from the unknown* and always changing ranks of
more or less independent voters. That this is a
“ doubtful” State has been the fact these many years.
In 1906, in a total vote of nearly
millions, he had
only 57,897 plurality over Hearst, while the Democrats
elected the other five on the State ticket by from five
to twelve thousand votes. In 1904, Higgins, Repub
lican candidate against Herrick, won by 81,608 plu
rality; in 1902, Odell won by 9,752 against the 111,126
he had two years earlier; while, in the last general elec
tion, Mr. Roosevelt carried the State by over 175,000.
Mr. Hughes’s plurality in 1906 was the smallest ob
tained by a Republican candidate during the past
twelve years, and the fact that he won while the rest
of his ticket went down shows that he did so by the aid
of Democrats and Independents. That is, thousands
who did not desire him, and even loathed his candi
dacy, voted for him as the sole alternative to Mr.
Hearst.
He cannot be re-elected without the aid of these
men, but no such compelling alternative will be pre
sented to them now, and what will hinder their return
to their ordinary inclinations? His renomination
would offer opportunity and challenge to the Demo
crats, and there is no individual obsession to prevent
them from naming their best man. Suppose they
offer an alternative to Mr. Hughes that is as attractive
to the voters who sway the balance of power
as the alternative of 1906 was impossible, what
then?
384
THE CHRONICLE
If it is urged that Mr. Hughes’s record and personal
character will command this balance of power, the
argument is good to an unknowable extent. On the
other hand, the argument cuts both ways. When an
Executive is not content with justly executing the
laws, but magnifies himself into persistent attempts to
force adoption of new schemes, to reconstruct social
and industrial arrangements, and largely alter the
condition of things as he finds them, he makes enemies
on all sides. This kind of independence is liable to be
solitary. It is certain that Mr. Hughes is objectionable
to most of the influential men of his own party in
the State. The interests which he has most clamor
ously opposed may be bad interests; yet they com
mand votes which will be arrayed against him. Fi
nancial and business interests must be expected to
oppose him, because of his regulative schemes; and
while he may win some votes from those who imagine
he has forced some advantage to them from corpora
tions, the spasm of fury against corporations is passing
(according to present signs), and the great body of
wage-earners will see no cause to love him. As one
example, it will be easier to show immediate detri
ment to the mass of rather unthinking voters in this
city, through the workings of the Commission machine,
than to impress them with faith in the paternalistic
aid it professes.
Another consideration which has been almost over
looked is the fact that he has antagonized insurance
interests in a violent and offensive manner. The
voters in this State who are directly concerned with
insurance as a means of livelihood px-obably are not
more than 5,000, but they have an influence with
policyholders (whose numbers would sway any election
if only a small fraction of them were moved) that is
certainly to be taken into account. Life insurance
men have the strongest reasons for working against
Mr. Hughes, and he has been furnishing arguments
to their hands, for the badness of the present laws
(of which he is the probable author, and which he is
determined shall not be modified while he can prevent
it) has been growing more and more plain through
this year, as their operation has been taking hold!
If anything political can be confidently predicted, life
insurance interests will be solidly and powerfully
against him, and the opposition may be expected to
extend to the other fields of underwiting. For if he
is re-elected he will be confirmed in his course and may
be ready to move upon those fields also in his repressive
manner. As an assurance of what can be looked for,
one of his earliest acts will be to replace Superinten
dent Kelsey, whose term expires early in 1909, by a
man of the “ brass knuckles” type, who will “ take the
companies by the neck and:cram the new laws down
their throats” ; this is what one of his adherents in
the Senate said he wanted, and his repeated attempts
to remove Mr. Kelsey leave no doubt of his intentions
and almost suggest whether a,desire to triumph, after
being twice defeated, does not. partly move him to
wards willingness to run.again.
Remembering, that the extraordinary situation
which elected. Mr. Hughes in 1906 cannot, recur, and
putting together the many, interests he has set
against himself, it is: a very serious, question
whether renominating him would not be, bad
politics, and . load rather than aid the national ticket
of his party.
[VOL. LXXXV11.
THE PRODIGIOUS LOSS IN RAILROAD GROSS
EARNINGS FOR THE HALF-YEAR.
The striking fact brought out by our compilation
of the gross earnings of United States railroads for
the half-year ended June 30 is the tremendous fall
ing off recorded. In this we have reference both
to the magnitude and the ratio of the decrease.
There has been no other occasion in American rail
road history wThere such a shriveling up of revenues
has occurred as far as amount is concerned, and we
do not think there has ever been a period where
between one year and another the percentage of
loss has been so large for successive months. As
a matter of fact in both respects the experience
of. our great carrying industry has been absolutely
unique. The result furnishes signal testimony to
the trying times through which the railroads have
been obliged to pass during the current calendar
year.
It is yet too early to have complete returns for
the half-year, but the table we present at the end
of this article, comprising 136 roads or systems,
covers an aggregate of over two hundred thousand
miles of road (in exact figures 202,322 miles), and on
this aggregate of road the shrinkage in gross revenues,
as compared with the corresponding six months of
1907, reaches no less than $189,833,646. From
these figures, which deal with definite, ascertained
results, the reader will be able to form an idea of
the intensity of the depression under which our rail
roads have been laboring. And yet the total is
by no means complete. Though the mileage repre
sented is very large, exceeding, as just said, 202,000
miles, about 28,000 miles of road are not embraced
in our table (the missing roads comprising some
companies like the New York New Haven & Hart
ford, which it is known sustained heavy losses);
furthermore, in the case of several large systems
which are included in the statement, the June re
turn has not yet been made public and consequently
as to such roads (among which are numbered the
Union Pacific, the Southern Pacific, the Erie, the
Reading, the Lehigh Valley, the Rock, Island and
the St. Louis & San Francisco) we have had to con
tent ourselves with the figures for the five months
to May 31. As railroad revenues in June every
where fell off very heavily, it is. evident that; the
absence of the. June figures in these instances has
served greatly to diminish the total of loss.
It will take several weeks more before it will be
possible to have-final and full figures, but making
allowance for the mileage unrepresented and for
the June loss in the case of the roads which have
as yet only reported for five months to May 31,
it seems,, safe to compute the reduction in gross earn
ings for the entire, six. months for the whole railroad
system of the United . States at from 230 to . 240
million dollars. In other words, the gross revenues
of the country’s rail transportation lines were re
duced in the neighborhood ol a quarter of a thousand
million dollars. That is. to say, our railroads had
during the six,.mouths of 190$- from 230,000,000 to
240,000,000 less to spend than in the corresponding
six months of last year. Is iti, any wonder under
these circumstances •that with railroad outlays thus,
curtailed and with new capital expenditures limited
in an equally marked degree, trade depression during'^the six months in all lines and branches of business
became steadily more pronounced ?
In ratio the falling off for the six months, based
on the definitely ascertained results as recorded in
our table,reaches nearly 17 per cent (16.80 per cent),
and in this case the percentage is not likely to be
materially changed with the receipt of complete
returns. In measuring the significance of this loss,
the fact is to be remembered that this ratio of decline
is the collective result of the monthly ratios of de
crease and these monthly ratios kept growing steadily
worse as the year progressed so that the very poorest
exhibits came at the close of the half-year, in May
and June. That fact stands clearly revealed in the
following little table furnishing a summary of the
monthly results. It will be seen that in January,
February and March the ratios of decrease were
respectively 12.49, 11.79 and 13.37 per cent, but
that in April, May and June the ratios rose to 18.89,
22.67 and 20.89 per cent. The June figures here
inserted are merely the early preliminary totals
published by us several weeks ago, since, for the
reasons stated above, it is not yet possible to have
full returns for that month. The ratio of decrease,
however, may be accepted as reasonably close,
it seeming unlikely that it will be materially
Monthly Summaries.
Month Jan •
Month Feb
Month Mch
Month Aorll
Month May
Month June
1908
1908
1908
1908
1908
1908
(122 roads)..............
(123 roads)..............
(126 roads)..............
(119 roads)........... ..
(120 roids)..............
( 51 roads)..............
1908.
$
151,758,40617
141,256,20016
162,495,08918
154,137,16819
153.112,62819
46,515,462 5
1907.
S
2,283,006
0,150,610
7,435,350
0,046,156
8,146,871
8,800,434
Inc. or Dec.
%
$
— 20,524,600
— 18,894,404
— 24,940,261
— 35,908,988
— 45,034,243
— 12,284,972
12.49
11.79
13.37
18.89
22.67
20.39
The foregoing statement of losses for the different
months deals in every case with the results as registered
each month in our tables and covering the roads
contributing returns. The computations made by
us in giving these registered figures, indicated that
with allowance for the roads not represented, the
loss in January for the whole railroad system of the
United States was about $25,000,000, for February
about $23,000,000, for March about $30,000,000,
for April about $43,000,000, for May about $55,
000,000 and for June, say, roughly, $50,000,000.
The sum of these losses is somewhat less than the
loss for the half-year, as now estimated by us, from
which it would appear that the monthly losses must
have been below rather than above the mark.
In dealing with the effect on general business
of this great shrinkage in railroad revenues, it be
comes important to take into consideration the con
trast with other years in this respect. Previously
the record had been one of continuous gains for a
long series of years past. In 1908, instead of a
further gain, which would have been the normal
condition, we have instead a tremendous loss. Our
table shows we have already seen an actual falling
off on the roads contributing returns of $189,833,646,
this covering 202,322 miles of road. In 1907 on
the other hand, the registered result covering a
slightly smaller mileage, showed an increase of $125,
960,785, or 12.72 per cent, while in 1906 the increase
was $117,543,761, or 14.27 per cent, and in all the
preceding years back to 1897, with one exception,
there had been larger or smaller gains, as may be
seen by the following :
385
THE CHRONICLE
AUG. 15 1908.]
Mileage.
Jan. 1 to
June 30.
1893..................
1897..................
1 8 9 8 ................
1899....... ..........
1 9 0 0 ................
1901..................
1902..................
1 9 0 3 ..............
1904..................
1905__________
1906..................
1907..................
1908..................
Earnings.
Year
Given.
Year
Preceding.
Increase
or
Decrease.
Year
Given.
lu
Year
Preced. cre' se
Miles.
155,133
158,295
158,775
161,166
166.704
175,371
179,065
173,655
177,673
185,912
182,611
196,117
202,322
%
Miles.
%
153,997 0.79 458,249,197 435,614,137 + 22,635,060 5.19
— 2,208,426 0.46
157,463 0.52 473,084,924 475,293,350
157,702 0.68 536,375,776 477.035,482 +59,340.294 12.44
159,865 0.81 556,326,304 523.231,211 +33,095,153 6.32
162,190 2.79 643,342.643 565,393,511 + 77,949,132 13.78
171,257 2.40 704,538.792 042,321,514 + 62,217,278 9.69
176,459 1.47 749,023,005 701,088,284 + 47,334,721 6.74
169,747 2.36 847,034,318 745,087,476 + 101,946,842 13.68
173,495 2.41 794,929,168 810,131,983 — 15,202,815 1.87
183,320 1.41 910.027,258 846.375,228 +63,652,030 7.52
179,614 1.67 941,429.882 823,886.121 + 117,543,761 14.27
193,135 1.54 1115123 431 989,162,646 + 125,960,785 12.72
199,935 1.20 941,602,396 1131436,042 — 189,833,646 16.80
Note.— Neither the earnings of the Mexican roads nor the mining operations of
the anthracite coal roads are Included In this table.
The figures given cover, as already stated, the
actually recorded results, embracing for each year
the roads contributing returns for such year. We
have already indicated that for 1908 ,with due al
lowance for the missing roads, the loss would reach
$230,000,000. On the other hand, for 1907 we
computed there had been an increase of $145,000,000,
for 1906 an increase of $135,000,000, and for 1905
an increase of $70,000,000. In 1904 we made a
decrease for the six months of between $18,000,000
and $20,000,000. Previously we estimated that
in the six months of 1903 there had been an improve
ment of $115,000,000, in 1902 an increase of $50,
000,000, in 1901 an increase of $70,000,000, in 1900
an increase of $90,000,000, in 1899 an increase of
$42,000,000 and in 1898 an increase of $68,000,000.
In other words, in the ten years from 1897 to 1907
the prosperity of the railroads was such that they
added altogether the enormous sum of $765,000,000
As for the influences responsible for the adverse
results in 1908, the depression in trade— brought
about by the legislative and governmental assaults
on railroad and other corporations, thus destroying
the credit of sucji corporations and correspondingly
curtailing their capital expenditures— has been the
chief among them. Unfortunately, the falling off
in railroad revenues, by further cutting down the
spending power of the roads, acted to intensify and
aggravate the business depression and to make it
still more profiounced. There have been, however,
some other circumstances and influences which have
served to accentuate the loss in traffic and in rev
enues. Thus the grain movement, both as measured
by the receipts at the seaboard and the deliveries
at the Western primary markets, sustained a very
noteworthy reduction. The cotton movement in
the South, likewise fell off. Furthermore, during
the month of April there was a more or less general
suspension of mining in the bituminous regions in
most parts of the country, pending the adjustment
of the wages of miners. This event deserves to be
mentioned as one of the incidents of the year, though
it is a question whether it was a matter of much
consequence, one way or the other, since, owing
to the business depression and the lack of traffic,
there was little demand for coal anyway.
It deserves also to be mentioned that in the South
west, and indeed in a good portion of the whole
territory west of the Mississippi and Missouri Rivers,
the roads in May and June suffered from excessive
rains and overflows, the tracks in the vicinity of
Kansas City for many miles west being under water
a good part of the time. The trouble also extended
THE CHRONICLE
386
[VOL. L X X X V II.
. northward into Montana and the territory of the
At the seaboard, besides the falling off in the arrivals
Northern Pacific Railroad.
of flour, the receipts of grain aggregated only 87,514,
On the other hand, there were also some favoring 176 bushels in 1908, against 132,929,003 bushels in
incidents and circumstances in 1908, tending to make 1907 and 153,043,583 bushels in 1906, as may be seen
the loss in earnings smaller than it otherwise would by the following.
have been. For instance, this being leap year, Febru RECEIPTS OF FLOUR AND GRAIN AT SEABOARD JA N .l TO JUNE 30.
1908.
Receipts o/ —
1907.
1906.
1905.
ary had twenty-nine days, giving the roads an extra Flour
______________ . . . bbls. 8,581.524
9,713,742
5,087,027
8,081.540
working day. Again, during the early months com W heat.............................bush. 36,390,927 42,739,714 37,058.172 11,179,795
C orn ...............
26,809,292
58,270,999
59,811,462
66,701,217
parison in the case of one class of roads was with figures O lts.............................................. 20,404,207 28,018,671 41,211,387 23.463,474
Barley.........................................
2,648,820
2,656,917
7,244,617
4,019,355
1,242,702
190,242
828,190
of earnings in 1907 which had been heavily reduced at R y e .............................................. 1,260,930
Total grain............................ 87,514.170 132.929,003 153,043,583
98,070,328
that time by reason of weather conditions of unusual
As regards the Western live-stock movement, there
and extraordinary severity. We have reference to the
was
a noteworthy increase in the movement of hogs
lines situated in the extreme northern part of the United
but
a
heavy falling off in cattle and in sheep. Com
States, more particularly those lying in the territory
bining
the figures for the different Western live-stock
between Lake Superior and the North Pacific Coast.
markets,
namely, Chicago, Kansas City, Omaha, St.
There were unexampled snow blockades in 1907 at
Louis,
St.
Joseph and Sioux City, it is found that the
that time in North Dakota, in Montana, in the Cascade
deliveries
of
hogs for the six months in 1908 were
Mountains and all the way to the Pacific. In addition,
11,280,051
head,
against only 9,835,700 in 1907, but
temperatures were extremely low, running from 30 to
that
the
deliveries
of sheep reached only 3,862,265
50 degrees below zero east of the mountains. The
head,
against
4,256,900,
and the deliveries of cattle
roads situated in that territory [had, therefore, sus
3,551,015,
against
4,095,600.
tained very heavy losses in earnings in 1907. In 1908,
Coming now to the cotton movement in the South,
there was no recurrence of such troubles and conditions
the
shipments overland in 1908 were 681,630 bales,
and accordingly these roads regained a portion of
against
953,606 bales in 1907 and 639,914 bales in
their losses of the previous year, hence recording gains
1906.
At
the Southern ports the receipts were 3,043,at a time when other roads were showing decreases.
028
bales,
against 3,629,445 bales in 1907, but as
It was partly by reason of the gains on these roads that
against
2,438,426
bales in 1906.
our exhibits of earnings during the early months of
RECEIPTS OF COTTON AT SOUTHERN PORTS FROM JAN. 1 TO JUNE 30
S in c e J a n u a r y 1
1908 were less unfavorable than for the later months.
1908.
1907.
P o r ts —
1906.
1904.
1905.
1903.
805,768
903,476
541,079
580,769
We may refer to a few instances going to show the Port Arthur, A c------ 82,453 ,603,836
104,263
49,300
177,101
47,148
100,753
942,021
New Orleans_______ 897,3S3
738,463 1,091,684
669,638
858,925
falling off in railroad traffic which occurred as a conse Mobile.........................
107,350
82,2.89
69,502
104,913
37,285
08,743
Pensacola, Ac---------74,790
74,336
80,207
89,056
35,528
63,96.8
quence of the collapse in trade. Shipments of coal and Savannah__________ 371,289 397,644 380,990 555,788 229,722 361,873
Brunswick...........66,068
64,588
64,972
61,981
26,838
46,527
coke originating on the lines of the Pennsylvania RR .east Charleston .............- 35,447
30,650
27,902
43,874
16,995
33,308
Georgetown________
562
402
662
276
346
141
of Pittsburgh and Erie were only 21,678,409 tons in 1908 Wilmington................ 129,590 71,7.84 54,224 95,162 27,796 57,818
Norfolk...................
187,473
225,822
155,304
285,590
135,448
165,603
Newport
News,
A
c
..
1,737
31,810
11,132
20,487
up to June 27, as compared with 28,559,077 tons in the
15,010
13,525
T o ta l....................... 3,043.028 3.629,445 2,438,426 3,429.448 1,782,828 2,352,014
corresponding period of 1907, the loss being 6,880,668
As the United States railroad system as a whole
tons, or about 25%. The traffic through the Sault Ste
sustained
such an extraordinary loss in earnings, so the
Marie Canal aggregated only 6,002,325 tons fortheseason
separate
roads
and systems are distinguished in the
to July 1 in 1908, against 17,788,319tons in 1907, The
same
way.
The
Pennsylvania RR. has fallen no less
largest falling off was in the shipments of iron ore.
than
$26,334,900
behind
in its gross for the six months,
Concerning the crop movements, we have already
indicated that the grain movement fell off heavily and this covers only the lines directly operated east
both in the West and on the seaboard. At the West, and west of Pittsburgh and Erie. The New York
the falling off extended to every one of the leading Central system, including the subsidiary and controlled
cereals, but was particularly marked in wheat and roads, has suffered a decrease of $17,510,067. These
corn. Altogether, the receipts of wheat, corn, oats, bar two systems stand in a class by themselves for amount
ley and rye were only 268,146,747 bushels in the period of loss, but the decreases are heavy everywhere and
to June 27 in 1908, against 335,651,750 bushels in the reach very large amounts on all the leading systems.
corresponding period of 1907. The following shows the In the following we furnish a summary of all change
details of the Western grain movement in our usual form. in the case of the separate roads for amounts in excess
of $200,000, whether increases or decreases. As a
R E C E IP T S A T W E S T E R N P R IM A R Y M A R K E T S .
January 1 to
C orn.
F lo u r .
W h ea t.
P a r le y .
O a ts .
(b u s h .)
June 27.
(b u s h .)
(fib I s .)
(b u s h .)
(b u s h .)
matter of fact, the list is made up entirely of decreases,
(b u s h .)
C h ic a g o —
1908............ .4,632,350 4,674,315 49,773,472 46,877,972 9,084,172
731,371
there
being not a single increase for the amount men
1907 ......... .5,024,062 6,198,529 70,149,303 43,958,558 9,519,825 1,109,650
M i lw a u k e e —
tioned.
In truth, out of the 136 roads contributing re
1,633,000 4,805,200 5,970,600
1908........... .1,258,655 3,685,000
551,400
4,039,500 6,071,700 7,252,000
1907............ .1,257,925 3,199,458
657,900
turns,
only
seven have increases of any kind— which
S t . L o u is —
1908............ .1,166,900 5,870,-147 14,015.059 12,561,175
998,289
176,196
shows
the
situation
plainly enough.
1907______ .1,434,730 4,570,362 22,002,645 15,145,420 1.352,400
231,369
T o le d o —
1908......... ..
1907...........
D e tr o it —
1908........... ..
87,100
1907_______ .
63,500
C lev e la n d —
1908..............
27,042
1907_______ .
26,589
P eo ria —
1908............. . 514,530
1907_______ . 473,450
D u lu th —
1908_______ . 840,356
1907........... .. 711,290
M i n n e a p o li s —
1908......... . . ______
______
1907_______ .
K a n s a s C i ty —
1908......... .. . ______
1907.......... ...................
1.056,800
994,500
3,249,800
4,876,000
1.176,500
1,929,200
724,158
762,373
1,747,639
2.494,328
883,000
1,096,200
455,156
503,711
4,103,890
3,191,995
2,205,32.8
2,781,163
117,864
55,582
2,200
604,900
260,500
9.520.S00
8,599,960
5,444,500
5,304,050
790,100
1,422,000
166,000
165,900
7,515,548
18,410,942
1,043
34,635
1,782,148
1,230,733
417,150
2,269,372
79,529
151,715
34,205,034
48,130.706
2,378,180
3,587,410
7,426,560
8,056,580
4,112,860
677,465
4,843,751 1,164,825
8,970,627
11,691,000
4,534,500
7,155,000
2,356,000
3,003.000
1,000
35,000
23,800
T o t a l o f a ll —
1908............. .8,526,939 67.761,9.85 90,957,383 85,518,383 21,492,035 2,416,961
1907......... .. .8,994,546 94,722,081 126,130,770 88,576,604 26,714,930 3,507,359
P R IN C IP A L C H A N G E S IN GROSS E A R N IN G S J A N . 1 TO JU N E 30.
Decreases.
Pennsylvahla (2 )----------- $26,334,900
Baltimore & Ohio.............
9,749,086
Southern Pacific-------------« 7 ,252 ,954
Atch Top & Santa Fe___
6,712,328
N Y Cent A Hud R iv e r .. 66,208,290
Chicago & N orthw estern 6,119,250
Ch!cag,> Burl A Quincy.. 0,073,583
Great Northern (2 )..........
5,351,953
Missouri Pacific (2 )..........
4,959,146
Northern P a c ific ............... 4,817,418
Southern Railway----------- 4,749,774
St Louis A San Francisco a l , 260,162
Canadian Pacillc...............
4,254,375
Norfolk & W estern-------4,135,508
Louisville & Nashville___
4,053,360
Illinois Central....................
4,024,078
Erie .......................................... 03,931,938
Union Pacific____________ a 3 ,591,716
Chicago Mllw A St Paul.
3,351,284
Lake Shore & Mich South 3,249,321
Grand Trunk ( 4 ) . . ........... 3,193,805
Phlla & Reading............... a 3 ,160,256
Pittsburgh A Lake E r ie .. $2,046,296
Missouri Kansas & Texas 2,865,152
Rock Island.........................
2,740,359
Boston & Maine . . . . . .
2,707,072
Duluth Mlssabo A N o r ..
2,568,390
Texas & Pacific--------------2,396,183
Chesapeake & Ohio--------2,316,287
Michigan C e n t r a l............
2,098,699
Duluth & Iron R a n g e ...
1,859,174
Denver & Rio G r a n d e ...
1,840,071
W ab a sh __________________
1,691,853
Nashv Chatt A St Louis.
1,524,895
Mobile A O hio----------------1,441,281
Clcv Cine Chic A St L ----1,423,787
Atlantic Coast Line--------1,372,874
Minn St Paul A S S M ----1,355,363
Lehigh Valiev— .......... .. a 1,329,809
Hocking V a lle y ................
1,279,960
Bessemer A Lake Erie___
1,169,717
Central of Georgia----------1,088,944
Wheeling A Lake Erie— p i ,079,254
International A Gt N o r ..
1,061,023
Aua. 15 1908. j
THE CHRONICLE
Decresses.
Decreases
$138,uoo
Kansas City S o u th e rn --- $1,037,271 Phlla Balto & Washlngt’n
42i,e02
Buffalo Rochester A Pitts 1,020,004 Toledo St Louis & W e s t .
Chic St Paul Minn & O tn.
062,000 Western M aryland_______
0403,486
Northern Central------------915,200 Lake Erie & W estern___
391,870
St Louis Southw estern-.
884,453 Elgin Joliet A E a ste rn ..
383,399
Seaboard A ir Line----------a858,102 Wisconsin Central_______
a 3 8 0 ,9 ll
Paclllc Coast--------------------0 /0 2 ,3 3 4 Duluth So Sh & Atlantic
376,951
Clcn New Orl <Sc Tex P ac.
747,658 Kanawha & Michigan___
a338,401
Chicago Great W e ste rn -.
680,580 Gulf A Ship Island_______
/323.802
N Y Chicago A St Louis.
614,204 Yazoo A Miss V alley____
273,323
Toledo & Ohio C entral..
a507,721 Texas Central____________
276,996
Chicago Ind & Louisville
587,548 Bangor & Aroostook____
a242,476
Detroit Toledo A Ironton
552,683 dlnneapolts A St L o u is ..
236,891
Central of New Jersey___
o550,16l Colorado M idland_______
235,427
Chicago & A lto n ------------537,801 Georgia Southern & F la .
219,816
Delaware & H udson------522,001.
Ala New Orl & T P (3 ) . .
5 1 1 ,33- Representing 81 roads In
A la Great Southern--------488,33'our compilation_____ $187,687,112
a Figures are for live months only, b These figures cover merely the
operations of the New York Central Itself.
Including the various auxiliary
and controlled roads, like the Michigan Central, the Lake Snore, the “ Big
Four,” t i c '‘ Nickel P iite ,” & c., the whole going to form the New York
Central System , the lesuit Is a loss of $ 1 7,510 ,067 . f F gures here arc to
the tnird week of May only, g These figures are to the second week of
June only.
We now add the full detailed statement, embrac
ing all roads for which it has been possible to procure
or to make up the figures.
.
G R O SS E A R N IN G S F R O M J A N U A R Y 1 TO JU N E 30.
‘ , Name o / Road.
$
5
Ala Gt Southern_____
2,022,076
1,533,739
Ala New Orl A T P—
1,587,605
New Orl A Nor E ’n .
1,304,431
799,406
713,609
Alabam a & Vlcksb.
796,741
654,328
Vicks Shrev A Pac.
22,230
23,518
Ala Tenn A N or_____
A tch Top & S Fe.......... 41,878,167 48,590,495
a 6 8 9 ,0 1 1
a615,449
Atlanta Blrm A A t l . .
Atlantic Coast L in e .. 12,792,849 14,165,723
399,931
365,698
Baltimore Clies A A t l.
Baltimore A O hio____ 30,723,638 40,472,724
Bangor & Aroostook- a l , 180,802 a 1,423,278
28,540
31,389
Bcllcfonte Central-----1,613,094
2,782,811
Bessemer A Lake Erie
16,996,004 19,703,076
Boston & Maine . —
21,793
21,191
Bridgeton A Saco Rlv
3,393,476
Buffalo Roch A Plttsb
4,413,480
Canadian Northern. _
3,704,500
3 577,000
Canadian Pacific-------- 30,498,676 34,753,051
4,866,560
Central of Georgia-----5,955,504
Central of New Jersey alO ,278,289 a l0 ,8 2 8 ,4 5 0
Chattanooga South’ll40,166
82,868
Chesapeake & O h io .. 10,867,172 13.213,459
Chesterfield A L a n e .33,631
30,545
Chicago & A lton _____
5,515,942
6,053,743
Cldc Burl & Q u in cy .. 34,503,773 40,577,356
Chicago G t W e ste rn ..
3,014,330
4,294,910
Chicago Ind A Loulsv
2,272,299
2,859,847
Chicago Ind & South.
1,394,317
1,499,498
Chicago Mllw A St P . . 25,593,080 28,945,270
Chicago & North W est 27,082,628 33,201,878
Chicago St P Minn & O
5,742,953
6,704,962
Chicago Term T r a n s ..
<1675,344
a 6 8 5 ,676
Cincinnati N orth ern ..
397,081
479,804
Cln N O A T ex Pac
3,461,110
4,208,768
Clev Cine Chic & St L . 11,015,982 12,439,769
Peoria & E a ste rn ..
1,270,774
1,441,923
Colorado M id la n d ...
903,544
1,138,971
Colorado A Southern
6,437,941
6,631,579
Col Newberry A L au.
a l 18,340
al4 0 ,3 3 6
360 OS3
413 11)4
C o rn w a ll.........................
27,916
11 + 3 0 7
Delaware & H u d so n ..
8,817,462
9,339,555
8,444,012 10,284,083
Denver A Rio Grande
550,074
089,713
Detroit A M ack in ac..
1,567,084
2,1 19,767
Det Tol & Ironton___
1,094,305
2,953,479
Duluth A Iron Range.
1,463,865
4,032,255
Duluth Mlssabe A Not
1,190,867
Dul So Sh A Atlantic.
1,567,818
Dunkirk Allegh Vail A
109,498
124,914
Pittsburgh-------------1,399,836
1,016,437
Elgin Joliet & East’n .
E ric ............... ..
alS ,043,737 a2 1,975,675
a890,535
Evansv & Terre H ’ te,
a 8 16,288
9,920
Fairchild A Nor E ’n . .
8,730
a287,550
Fonda Johnst & Glov
a 2 7 3 ,2 10
58,021
Genesee & W yom in g.
40,615
1,483,164
Georgia R R ___________
1,330,081
Georgia Sou A F la ___
1,179,870
060,054
Grand Trunk of C a n .l
Grand Trunk W n . 1 17,845,571
21,039,376
Det Gr H av A M il. |
Canada A t l a n t i c ..J
Gt Northern system .]
Montana Central. . j 20,063,226 25,415,179
7710,655 t l ,034,457
Gulf A Ship I s la n d ...
2,123,045
Hocking Valley---------3,403,005
24,626,556 28,050,634
Illinois C en tra l---------3,121,569
Intcrnat’l & Gt N o r ..
4,182,592
1,383,389
Iowa Central____ —
1,515,383
a656,090
Kanawha A Michigan
«995,091
3,853,083
4,890,354
Kan City Southern—
2,040,667
2,432,537
Lake Erie & W estern.
Lake Sh A Mich S o u .. 18,340 216 21,589,537
Lehigh V a lley ________ al2,957,631 a l 4 ,287,440
308,411
201,837
Lexington & East’n - .
20,128
27,337
Little Falls A Dolgev
4,467,099
4,377,212
Long Island___________
C396.412
C345.175
Louisiana A Arkansas
Louisville & N ashv___ 19,993,465 24,046,825
79,915
60,229
Macon & Blrm ’h a m ..
31,220
M anlstlquc____________
27,845
172,304
Maryland & Penna___
169,999
Michigan Central____
11,735,281 13,833,980
c291,356
Midland V a lley ---------C289.057
392,185
Mineral R ange_______
385,335
1,894,596
Minn & St Louis-------1,657,705
6,091,541
Minn St P & S S M - .
4,735,978
Mo Kansas & Texas. _
9,982,207 12,847,359
Mo Pac & Iron M t n .. 18,358.250 23,212,396
781,000
670,000
Central Branch-----5,672,014
4,230,733
Mobile & Ohio .......... 6,548,561
5,024,666
Nashv Chatt A St L _ .
112,961
Nevada-Calif-Oregon.
•145,417
45,044
31,320
Nevada C en tral.______
N Y Cent A Hud R lv. 40,662,607 46,930,897
5,221,021
4,600,727
N Y Chic & St L ouis..
3,900,914
3,815,269
N Y Ontario & W e st’ n
N Y Susq & W estern. a l . 298,192 a l ,350,543
16,078,699
Norfolk A W estern___ 11,943,191
5,431,094
Northern Central____
6,346,294
Northern Pacific.......... 27,732,945 32,550,363
2,977.382
Pacific Coast_________
3.769,716
Mileage.
Increase ( + )
orl
Decrease (— ) 1908. 1907.
$
— 488,337
309
309
196
— 283,174
143
— 85,797
189
— 142,413
45
— 1,288
— 6,712,328 9,431
— 73,562
571
— 1,372,874 4,360
+ 34,236
88
— 9,740,086 • 4,006
— 242,476
474
27
— 2,849
246
— 1,169,717
— 2,707,072 2,288
21
+ 602
— 1,020,004
568
+ 127,500 2,874
— 4,254,375 9,230
— 1,088,944 1,913
— 550,161
648
105
— 12,702
— 2,346,287 1,831
— 3,086
38
— 537,801 1,005
— 6,073,583 9,134
— 680,580
818
£— 587,548
599
— 105,181
340
— 3,351,284 7,187
— 6,119,250 7,622
— 962,009 1,711
— 10,332
102
— 82,723
248
336
— 747,658
— 1,423,787 1,983
— 171,149
351
— 235,427
338
— 193,638 1,857
— 21,996
75
5.1 1 1 i
82
— 83,391
13
— 522,093
843
— 1,840,071 2,552
-138,739
344
684
— 552,683
230
— 1,859,174
— 2,568,390
275
591
— 376,951
196
143
18.)
27
9,350
498
4,360
88
4,006
474
27
244
2,288
21
568
2,554
9,154
1,89.)
648
105
1,827
38
970
8,927
818
599
340
7,043
7,622
1,711
102
248
336
1,983
351
336
1,857
75
82
13
843
2,552
344
684
225
242
591
15,416
— 383,399
— 3,031,938
— 83,247
— 1,190
— 14,340
— 11,406
— 153,083
— 219,816
91
237
2,169
310
38
97
16
307
395
01
236
2,160
310
38
97
16
307
395
— 3,193,805
4,528
4,528
— 5,351,953
— 323 ,802
— 1,279,960
— 4,024,078
— 1,061 023
— 131,994
— 338,401
— 1,037,271
— 391,870
— 3,249,321
— 1,329,809
— 106,574
— 1,209
— 89,887
— 51,237
— 4 ,053,360
— 13,686
— 3,375
— 2,305
— 2,098,699
— 1,399
— 6,850
— 236,891
— 1,355,563
— 2,865,152
— 4,854,146
— 105,000
— 1,441,281
— 1,524,895
+ 32,453
— 13,724
— 6,268,290
— 614,294
— 94,645
— 52,351
— 4,135,508
— 915,200
— 4,817,418
— 792,334
6,408
307
346
4,594
1.159
558
177
827
886
1,520
1,440
92
10
392
230
4,365
105
74
84
1,745
324
128
799
2,262
3,072
6,091
388
926
1,230
164
04
3,784
523
546
236
1,920
460
5,617
137
6,280
307
346
4,377
1,159
558
177
827
880
1,520
1,440
92
10
392
230
4,342
105
74
84
1,745
324
128
799
2,200
3,072
6,026
388
026
1,230
144
94
3,774
523
546
236
1,877
460
5,606
137
387
Increase ( +
Name of Road.
1908.
Decrease (—
$
nes directly
64,020,74b
625,862,500
7,740,211
015,335,183
4,095,748
29,445
57,886
0832,987
267,463
022,154 ,273
1,228,046
0613,885
Pennsylvania R R — LI
East of Pitts A Erie
W est of Pitts A Erie
Phlla Balto A W a s h ..
Plilla A R e a d i n g ..___
Pitts A Lake Erie____
R aquette Lake____
Raleigh A SouthportRich Freds A Potomac
Rio Grande SouthernRock Island s y s te m ..
R u tla n d ______________
St Jos A Grand fsl . .
St Louts A San Fran.l
Incl Chic A East 111] 017 ,0 2 8 ,4 6 7
St Louis Southwestern
4,157,925
Seaboard A lrL lne____
a 6,452,706
Southern Indiana____
822,498
Southern Pacific______ 0 4 5,612 ,535
Southern Railway____
23,591,913
Texas Central________
357,879
Texas A Pacific_______
5,997,558
Tidewater A W cstern .
38,877
Toledo A Ohio Cent’I. a l ,311,881
Toledo Peoria A W ’n .
585 666
Tol St L A Western
1,622,044
Tomblgbee V alley____
30,536
Toronto Ham A Buff383,164
Union Pacific________ 0 2 6,988 ,746
Virginia A Southwn.
452,713
W aba sh ____________
11,596,882
W est Jersey A Sea Sh
2,272,152
Western M a r y la n d ... 02,018,896
Wheeling A Lake Erie 0 1,711,550
Wisconsin C e n tra l___ 02,682 888
Wrlghtsvllle ATennllle
122,032
Yazoo A Miss Valley.
4,594,209
M ileage.
1907.
1908.
1907.
$
$
operated—
79,141,64! — 1 5 ,120.00C
737,076,501 — 11,214,006
8,178,21)
— 438,001
018,495,431 — 3,160,251
7,042,044 — 2,946,296
+ 15,424
14,021
56,412
+ 1,474
— 63,732
0896,71!
— 2 2 ,6 7 .
200,145
o 2 4 ,8 9 4 ,63& — 2,740,35b
— 158,450
1,386,496
— 93,807
0707,692
3,792
2,885
715
1,000
191
24
61
83
180
8,004
468
317
3 ,7 5 4
2 ,840
715
1,000
101
24
64
83
180
7 ,858
468
312
021,288,629 — 4,260,162
— 884,453
5.042,378
07,310,808
— 858,102
771,666
+ 50,832
052,865,48!) — 7,252,954
28,341687
— 4,749,774
634,875
— 276,996
8,393,741 — 2,396,183
51,454
— 12,577
a 1,909,602
— 597,721
651,777
— 66,111
2,043,846
— 421,802
34,798
— 4,262
456,331
— 73,167
030,580 ,462 — 3,591,716
566,883
— 114,170
13,291,735 — 1,694,853
2,327,352
— 54,900
02,422,382
— 403,486
(72,7 9 0,804 — 1,079,254
03,063,799
— 380,911
135,370
— 13,338
4,867,532
— 273,323
6,021
1,470
2,610
346
9,544
7,501
311
1,885
92
440
248
451
63
88
5,813
137
2,517
374
543
498
1,023
104
1,298
6,008
1,454
2 ,610
246
9,424
7,552
311
1,848
92
440
248
451
63
88
5,639
137
2,517
368
543
498
1,022
104
1,239
Total (136 roads) . . 941,602,396 ) ,131,433,042 - -189833,646 202,322 199,9 3 5
Net decrease (16 .8 0 % )
Mexican Roads (not In eluded In to tals) —
Interoccanlc of Mexico
3,852,777
3,748,688
Mexican Central_____ 0 1 4,452 ,990 014,144,533
Mexican International
3,837,786
4,656,223
Mexican Railw ay____
3,950,400
3,972,300
Mexican Southesn____
636,437
683,027
National R R of M cx._
8,478,008
7,500,930
Hidalgo A Nor E ’n .
475,265
478,807
+ 104,089
+ 308,457
— 818,437
— 21,900
— 46,590
— 977,078
— 3,542
736
3,225
918
321
262
1,732
152
736
3 ,202
918
321
263
1,732
152
a Figures are for live mmths only In both years.
b These totals are aporodmate, but amount of Increase Is exact.
c These figures are for four months only In both years.
T These figures are down to tne third week of May only In both years.
g These figures are down to the second week of June only In both years.
ITEMS ABOUT B A N K S , B AN K ER S A N D TR U ST CO’S .
— The public sales of bank stocks this week aggregate
189 shares, of which 105 shares were sold at the Stock E x
change and 84 shares at auction. The transactions in
trust company stocks reach a total of 92 shares. The first
public sale of stock of the Lafayette Trust Co. of Brooklyn
(successor to the Jenkins Trust Co.) was made this week
at 125.
Shares. B A N K S — New York.
Low. High. Close.
*10 American Exch. N at. Bank . 225
225
225
*95 Commerce, N at. Bank of . . . 166
168
168
50 Garfield National B ank____ . 290
290
290
4 Lincoln National B ank____ . 475
475
475
B A N K — Brooklyn—
30 National Cltv Bank
___
295
295
295
T R U S T C O M P A N IE S — New York.
30 Carnegie Trust Co ................. . 167
167
167
5 Guardian Trust C o ................ . 154
154
154
T R U S T C O M P A N IE S — Brooklyn.
47 Franklin Trust C o _________ . 200
200
200
10 Lafayette Trust C o _____
125
125
. 125
* Sold at the Stock Exchange.
Last previous sale.
Juy 1908— 229
A u g. 1908— 168
July 1908— 290
June 1908— 5 1 5 ^
July 1 9 0 8 - 170
M ay 1 0 0 8 - 167
Dec. 1906— 324 H
First sale.
Next Tuesday, the 18th, is the day set apart by the
Department of Taxes and Assessments of the City of New
York for a hearing of protests from the national and State
banks whose stockholders m ay have any grievence against
the payment of the 1 % flat rate which the banks of this
city are required to pay on their capital, surplus and un
divided profits. This formal notice of a fixed day whfen
hearings will be granted and protests considered is a de
cided innovation, arising out of the recent Court of Appeals
decision on the Bridgeport Savings Bank case, in which
it was held that the assessment might be set aside for ir
regularity, if the authorities failed to afford an opportunity
to the taxpayer to be heard. Some lawyers hold that
taxes paid under a method omitting opportunity to br
heard can be recovered in a suit against the city. It is
to avoid such a possibliity that a definite day has been set
for the hearing of complaints and grievances. To quote
the opinion of the Court “ a taxing act which requires a
valuation of property as part of the procedure is uncon
stitutional unless it provides a grievance day, or an ade
quate opportunity to be heard, and any tax levied under
such a statute is void. If, however, a grievance day is
provided, but notice thereof is not given, while the statute
is valid, the tax is voidable. The assessors have juris
diction, but the failure to give notice is an irregularity,
and the assessment, if attacked in due form and in due time,
will be set aside, on account of such irregularity.”
388
THE CHRONICLE
—In line with the recent ruling of Attorney-General Bona
parte, that national banks in Oklahoma may not legally
participate in the law of that State governing the guarantee
of deposits, a formal notice has been issued by Deputy and
Acting Comptroller of the Currency T. P. Kane to banks
under his jurisdiction, advising them of the decision and re
questing the withdrawal from the agreement of those avail
ing of the law. This announcement is as follows:
The A cti jg Comptroller of the Curr-mcv, T . P. Kane, has officially noti
fied all national banks In the State of Oklahoma of the opinion rendered by
the Attorney-General of the United States that It Is Illegal for the officers
of any national bank to enter Into such an agreement as Is contemplated by
Section 1 of the Oklahoma statute relative to guaranteeing deposits, and
that nersistent and wilful action to this effect on the part of such bank
would be just cause for the forfeiture of Its charter.
All national banks which have taken advantage of the law referred to
have been required to withdraw from the agreement and to notify the Comp
troller’s office that they have done so.
It is reported that an opinion on still another phase of the
question has been given by Mr. Kane. In this case, so it is
said, the Comptroller’s office was called upon to decide
whether a national bank m ay, under the National Banking
laws, enter into an insurance plan for the guaranteeing of
its own deposits. On this point Acting Comptroller Kane
is reported to have replied that under the law as it exists
there is no objection to a national bank guaranteeing its
own deposits through a system of insurance paid for out of
its surplus funds. He notes that, while the existing law
forbids national banks contributing to a fund to guarantee
deposits of other banks, there is no provision prohibiting
a bank from insuring its own deposits.
Telegraph dispatches from Guthrie on Thursday stated
that, as a result of Attorney-General Bonaparte’s decision,
the First National Bank of Duncan, Okla. (capital $50,000)
had announced its intention of liquidating and becoming a
State institution.
_The views of Henry W. Yates, President of the Nebraska
National Bank of Omaha, Neb., on the subject of the
guaranty of bank deposits, as presented before Group 1 of the
Nebraska Bankers’ Association on June 17 1908 have been
published in pamphlet form by the Omaha Clearing-House
Association. Mr. Yates is strongly opposed to the proposi
tion, and in his arguments against the plan cites several in
stances where it has been tried and failed—the New York
Safety Fund Law, and the Michigan Safety Fund Law,
whose passage in 1836, Mr. Yates says, was followed by
the failure in less than three years of forty-two banks, leaving
only six open for business.
__Under a resolution adopted by the Los Angeles Clearing
House Association on July 13, savings banks whose opera
tions are restricted to a savings bank business are exempt
from the requirements of the resolution of the Clearing House
passed last February, providing that after Sept. 1 1908 a
capital of not less than $200,000 must be maintained by all
institutions enjoying Clearing-House privileges. The new
resolution as given in the “ Los Angeles Financier” reads as
follows:
Whereas Tiie Clearing-House Committee In a letter recently addressed
t ) t le Joint negisutive Commission of the State of California appointed by
the Governor to invest! >•ite and recommend needed changes In tne banking
laws of t if State did recommend to the said Commission that savings
b inks doing purely a savings bank business should not be required to have
enforce''the terms of the resolution adopted by the Cos A n
geles Clearin’'-H ouse Association, providing that on and after Sept. 1 1008
no h mks In Los A iveles should be accorded the privileges of the Clearing
House having a paid-up capital of less than 5200,000, and oblige savings
banks lu the city of I.os Angeles to have a paid-up cipltal of 5200 ,00 0.
might work ;> hardship to any savings bank that desired to conduct Its
business in harmony with the said recommendations of the Clearing-House
Committee; therefore, be It
, T
.
,
, ,
Resolmt That savin rs banks in the city of I,os Angeles doing a savings
ban:; business exclirrvely be and are hereby excepted from the conditions
and requirements of the said resolution.
—The present situation with regard to the work for a
uniform bill of lading, as well as uniform legislation covering
the same, is the subject of an extended article in the August
number of the Journal issued by the American Bankers’
Association, which also contains the text of the report of the
Inter-State Commerce Commission, recommending a stan
dard uniform bill of lading in two forms, one for straight”
and the other for “ order” shipments. Ihis report was
published in full in the “ Chronicle” of July 18. In its com
ments on the bill, the article states that the outcome of the
long protracted hearings and negotiations before the Com
mission is highly satisfactory from the bankers’ standpoint,
inasmuch as the forms recommended embody substantially
every contention made by the Bills of Lading Committee
of the American Bankers’ Association. In other words,
it states, the committee has completely won its case before
the commission, every single point that it has urged hav
[VOL. LXXXV1I.
ing been adopted. It further points out that not alone has
the Commission acceded to the bankers’ contentions, but
the carriers in the Eastern Classification Territory having
assented to the recommended forms, have been brought over
to the bankers’ point of view. Emphasis is laid upon the
fact that the work thus far accomplished relates solely to the
forms of the bill—that there still remains the all-important
task of procuring legislation by Congress and by the respective
States regulating matters, vital to security, not covered by
the bill itself. The bankers are therefore cautioned not to
regard the movement inaugurated under the auspices of their
Bills of Lading Committee for a better bill and better laws
governing it, as ended by the recommendation of these forms,
but in reality as only just begun. It is a movement, the ar
ticle adds, in which all must continue to unite until the neces
sary ends sought by legislation are obtained. The points
urged by the bankers’ committee and adopted in the recom
mended forms are summarized as follows:
1. Two separate forms of bills of lading, on dllferont colored paper, one
for straight and one for order shipments.
2. The prominently printing of the words “ order o f " before the name of
the consignee of order bills.
3 . The omission of the words “ not negotiable” from order bills and the
printing of such words on straight bills
<1 The amendment of the alteration clause so that a fraudulently altered
bill shall be good for Its original tenor and not destroyed completely.
5. The addition, at the end of Section 3, of the conditions (which provide
that the carrier, liable for loss, shall have the benefit of any Insurance)
of the words “ so far as this shall not avoid the policies or contracts of
Insurance.”
__The plan of C. W. Morse and the Assets Realization
Co. providing for the immediate payment of the unpaid
amount due depositors of the National Bank of North
America of this city has been rejected by the National
Banking authorities through Deputy and Acting Comptroller
of the Currency T. P. Kane, and Receiver Charles A. Hanna
has been instructed to proceed with the liquidation in accord
ance with the law governing failed institutions. The Assets
Co., it appears, purchased receiver’s certificates of the bank
to the amount of $1,012,550, face value, on which 50%
dividends have already been paid by the receiver, and
offered to place in the receiver’s hands by Aug. 13 1908 a
sum sufficient to pay off all the deposits, with interest to
that date. Mr. Kane’s reasons for declining the proposition
are set out in a letter received by Mr. Hanna on the 8th inst.,
that portion expressing his conclusions reading as follows:
W hen you were authorized to permit the representative of the Assets
Realization Company to Inspect the assets oi your trust, with a view to that
company placing In your hands sufficient funds to pay oir tiie remaining
liabilities, it was represented to this office that the stockholders of the bank
would share alike in the proceeds of the liquidation lu proportion to their
stockholdings, and that the proposition of the Assets Realization Company
was the simple plan above outlined. The contract which they have asked
the stockholders to sign, and which 1 saw yesterday for the first time, pre
sents this proposition In an entirely different light.
Instead of the Assets Realization Company furnishing the funds necessary
to pay off the creditors, the plan proposes that the bank shall give Its notes
to the company, thereby creating a new debt for the paym ent of the old
debts of the association, contrary to law.
The contract of the Assets Realization Company requires that the debts
of the bank to that company, Including the sum of 8275,000 compensation
for commissions, shall be paid In full before any payments are made to the
stockholders. This arrangement Is not in accord with the representations
made to this office by the agent of the Assets Realization Company that the
stockholders were to share alike In the liquidation of the assets In propor
tion to their stock holdings.
A number of protests have been received from minority stockholders who
have not consented to tiie proposition of the Assets Realization Com pany.
While It Is not the duty of the Comptroller of the Currency to look after
the Interests of stockholders of an Insolvent bank, the law providing a way
In which their Interests shall be taken care of. at the same time the Com p
troller would not be justified In jeopardizing the Interests of minority stock
holders by being a party to a proceeding not In conformity with law. which
contemplates returning the remaining assets of the bank to the control of
those responsible for the failure.
You are therefore Instructed to decline to accept the funds offered by the
Assets Realization Company, and to proceed with the liquidation of the
bank under your receivership.
When all the debts of the association have
been paid from the proceeds realized from the assets, a shareholders’ m eet
ing will be called for tiie election of an agent in the manner prescribed by
iaw.
— Gordon Macdonald, the Exchange member of the
banking firm of Speyer & Co. of this city, died yesterday
at Ganonoque, Canada, in his fifty-third year. Mr. Mac
donald was born in Canada. He became a resident of
New York in 1871 and since then had been associated with
several important financial institutions. He was for twelve
years with Maitland, Phelps & Co., afterwards with Kessler
& Co., then the Continental Trust Co., and since 1901 had
been a member of the firm of Speyer & Co. He was ad
mitted to membership in the New York Stock Exchange
in December 1902. He was a director of the Bank of New
York, N .B.A ., the New York Trust Co., the Bank of Long
Island and the Mexican International RR—A. M. Dederer, formerly Cashier of the Mechanics’ &
Traders’ Bank of this city, has been elected Third Vice
President of the Metropolitan Bank. Mr. Dederer is to
have charge of a new branch, which will be opened by the
Metropolitan at 565 Broadway, corner of Prince Street,
previously the headquarters of the Mechanics’ & Traders’
AUG. 15 19081.
THE CHRONICLE
Bank, which with its reorganization as the Union Bank of
Brooklyn, is discontinuing all its Manhattan offices.
—An order directing the removal of the temporary receiv
ers of the Mechanics’ & Traders’ Bank, and approving the
re-opening of the institution under the name of the Union
Bank of Brooklyn Borough, was issued by Justice Pound
of the Supreme Court on Monday last. Justice Pound also
allowed $20,000 each as the fees for Receivers J . H. Haggerty
and Joseph B . Ford, and $15,000 as the fee for Morgan J .
O’Brien, counsel to the receivers. The date for the re
opening of the bank has been set for Monday next. As
stated last week, when the details of the reorganization were
fully set out, the bank will, in accordance with the suggestions
of Clark Williams, Superintendent of Banking, confine its
business entirely to Brooklyn, and its main office will be at
44 Court Street, heretofore known as its Union Branch. In
addition to closing its Manhattan offices, located at 565
Broadway, Times Square and Madison Avenue, two of the
Brooklyn branches of the institution, namely, the Fulton
Street and Hancock Street branches, will also be discontinued,
leaving seven Brooklyn branches in operation. The reor
ganized bank starts under the presidency of Edward M.
Grout.
—The stockholders of the Lafayette Trust Co. of Brooklyn
Borough have been notified of a special meeting to be held
on the 25th inst. to act on the proposition to increase the
capital from $500,000 to $800,000. The increase is to be
made because of the new law, which requires $100,000
capital for each branch operated, in addition to the amount
necessary with incorporation of the institution. It is stated
that the company intends to close at least two of its five
branches.
—The proposition to increase the capital of the North
Side Bank of Brooklyn Borough from $100,000 to $200,000
was unanimously ratified at a meeting of the shareholders
on the lltli inst. As stated in these columns Ju ly 25, the
new stock will be paid for out of surplus, through the declar
ation of a stock dividend of 100% . The increase is made
to comply with the law calling for additional capital for
each branch operated, aside from that required for the
parent bank.
—The Roseville Trust Co. of Roseville, N. J . , filed articles
of incorporation on Ju ly 29. The $100,000 capital stock of
the company is said to have been subscribed for and the full
amount paid in. Raymond E . Smith, of Orange, N. J . , is
the largest stockholder, with 17 1 shares. Mr. Smith is also
the registered agent of the new company.
—The officers of the newly organized Manasquan National
Bank of Manasquan, N. J . , arc William P. Taylor, President;
Henry Wainwright, Vice-President, and Randolph D. West,
Cashier. The institution has been formed with a capital of
$50,000.
— A 6% dividend was paid this week by Receiver Albert
J . Wheeler to the depositors of the failed German Bank of
Buffalo. The total distribution is thus brought up to
72 2-3% . The bank suspended four years ago.
—The Old Colony Trust Co. of Boston is soon to have a
magnificent four-story bank building, corner of Court St.
and Franklin Ave., next door to its present location in the
Ames Building, where the old structures arc now being razed.
During the last few years the casual visitor to Boston could
not help observing the general improvement of property in
the city’s business districts. Many large and substantial
office buildings have replaced the older and smaller ones.
Boston’s leading banking firms and institutions have been
erecting handsome buildings which are a credit to the city.
The most noticeable of these improvements in the financial
centre are the big National Shawmut Bank building, the new
home of the New England Trust Co., Kidder, Peabody &
Co.’s attractive banking house, the First National Bank
Building, Ilornblower & Weeks’ new building and the new
enlarged quarters of the International Trust Co. The plans
for the Old Colony Trust Co.’s new structure, drawn by
Shcpley, Rutan & Coolidge, provide for a facade on Court
St. of Vermont white Hardwick granite and on the Franklin
St. side of light gray brick and limestone. The general exterior
design will be classic in appearance and treatment. A
central doorway 12 feet wide will be placed on the Court St.
front, which will open directly into an interior public banking
389
space 28x80 feet, with the bond and trust departments to
the left of this entrance and the banking and loan depart
ments on the right. The principal offices will be arranged
in the rear and on a raised platform. A marble stairway
in the centre of the bank will give entrance into the safedeposit establishment in the basement—a room 95x82 feet,
accommodating the luxurious coupon and reception rooms.
The vaults are to be constructed of the heaviest armor plate.
The clerical staff will occupy the second and third floors,
with quarters on the latter floor for the directors’ and chair
man’s rooms. The striking feature of the architect’s plans
is the barrel-roof vault, GO feet high, with a skylight placed
over the main banking room, which will admit daylight to
the centre of the public space on the first floor and all the
other floors. The public banking room will have tiled
marble floors, mahogany woodwork, specially designed
bronze fixtures, with beautiful marble columns on each side
of the room supporting the gallery on the second floor.
Throughout the building the most modern conveniences
and devices known to architectural skill will be utilized in
its construction. As it is well known, the chief executive
of this prominent New England company is Gordon Abbott,
and his official associates are: Wallace B . Donham, Francis
R. Hart and James A. Parker, Vice-Presidents; in charge
of banking department: F. G. Pousland, Treasurer; E .
Elmer Foye, Cashier; F. M. Lamson, Manager Temple Place
branch office, while the bond organization, transfer and
trust departments are directed by Julius R. Wakefield,
Secretary, and F. M. Holmes, Trust Officer. Joseph G.
Stearns is Superintendent of its safe-deposit-vault establish
ment. T. Jefferson Coolidge Jr. is Chairman of the board
of directors.
—The dividend rate of the City Trust Co. of Boston has
been increased from 8 to 12 % per annum, with the declara
tion of a quarterly dividend of 3% , payable Aug. 15. Pay
ments were heretofore made semi-annually, the previous
disbursement, 4% , having been paid on May 15. The com
pany has a capital of $1,500,000.
—In the course of a few months work is to be begun on
a new building to be erected by the Kensington Trust Co. of
Philadelphia on a site purchased by it at Kensington Avenue
north of Allegheny Avenue. It is reported that the new
building will cost $100,000. The company has a capital of
$150,000. It began business in May 1906.
—The organization of a new Pittsburgh trust company is
reported as under way. It is to be known as the United
States Trust Co., and is being organized by E . A. Cohen,
President of the United States Realty Co. of Pittsburgh.
The new company, it is said, will have a capital of $200,000
and a surplus of $60,000. It is understood that almost all
the stock, which has a par value of $50 a share, has been
taken, and that the unsold portion will be disposed of at
$60 a share, the additional $10 being placed to surplus. It is
also announced that a proportionate number of shares of the
United States Realty Co.’s stock will be given to each sub
scriber to the capital stock of the trust company. The
former quarters of the Commonwealth Trust Co. on Fourth
Avenue will be used by the new organization, which is to
conduct a general banking business.
— Receiver Robert Lyon of the Allegheny National Bank
of Pittsburgh has received a court order permitting him to
sell at auction securities pledged for loans on notes alleged
to have been forged by former Cashier William Montgomery
or one of his clerks by his orders. The total amount of the
securities is given as $567,241. The bank closed its doors
on May 18, owing to the defalcation of its Cashier, who is
now in the Allegheny County Jail awaiting trial.
—It is stated that, according to a report of Auditor J . C.
Boyer of the failed Prudential Trust Co. of Pittsburgh, tho
depositors will receive only about 16.33% of their claims,
and even this sum can only be paid provided the report is
at once confirmed by the Court, and there be no further
litigation. The institution made a voluntary assignment
over four years ago, as a result of a judgment of $29,725
entered against it. A schedule filed with the report is said
to show total claims of $209,691, in addition to which thire
is a claim of the Guarantee Title & Trust Co., assignee of the
Pittsburgh Construction & Manufacturing Co., of $45,350.
The preferred claims allowed are reported as $16 1 789.
390
THE CHRONICLE
[VOL.
LXXXVII.
The schedule also shows, it is stated, that the checking ac Comptroller by the receiver, $26,530; cash in hand, $764; due
counts of the company at the time of its suspension were from United States Treasurer 5% redemption fund, $1,250;
$72,705 and its savings accounts $84,088.
estimated value of premium on United States bonds, $1,000.
—A dividend of 50% has been declared to the depositors The institution closed its doors last November. It is stated
of the First National Bank of'Clintonville, Pa., which was that the liabilities at the time of the failure were estimated
placed in receiver’s hands on April 24. The funds necessary at $125,000. The sale is expected to enable payment in
for the payment were obtained, it is reported, through an full to depositors.
assessment of 100% on the shareholders.
—The Germ an-American National Bank of St. Joseph,
The Farmers’ National Bank of Emlenton, Pa., which Mo., has a new Cashier in Walter W. Head, who succeeds
was identified with the Clintonville institution, and closed its R. R . Calkins, the latter having become a Vice-President of
doors at the same time, is to be reorganized, the new stock, the institution. The bank, formerly a State institution,
par $100, being sold at $140 per share.
entered the national system in March last.
—In a schedule of liabilities of the failed Euclid Avenue
— C. W. Carey, heretofore cashier of the National Bank
Trust Co. of Cleveland filed on Ju ly 29 by the Cleveland of Commerce of Wichita, Kan., has replaced A. C. Jobes
Trust Co., as assignee, the total liabilities are placed at $ 1, in the Presidency. J . II. Stewart has become Second Vice
447,055. The schedule of assets filed some weeksagogave the President and I . A. Russell has advanced from the post of
total assets, it is said, as $1,705,249, upon which the ap Assistant Cashier to the Cashiership.
praised value of $1,090,162 was placed. The institution
— On Aug. 3, five weeks after it began business, the Secur
assigned on May 8. Combined commercial and savings de
ity National Bank of Kansas City, Mo., reported deposits of
posits and certificates of deposits are given as $980,558, be $330,000. The institution opened on June 25 with a capital
sides which there are secured deposits of $184,077 and of $200,000 and paid-in surplus of $50,000. The officials
partially secured deposits of $174,362. Of the secured are: II. M. Evans, President; R. H. Williams and K . L.
deposits the State Treasurer of Ohio has, it is said, certificates Browne, Vice-Presidents, and J . D. Anderson, Cashier.
of deposits for $50,000. The city of Cleveland has secured Both Mr. Evans and Mr. Anderson were formerly identified
deposits of $3,429, and partially secured deposits, it is stated, with the Central National Bank of Kansas City, Mr. Evans
of $171,840, with $2,521 interest. Lakewood Village is re having been Vice-President and Mr. Anderson Cashier of
ported to have a secured deposit of $16,088, and J . P. that institution.
Madigan, as County Treasurer, has secured deposits of $9,180.
—-The new Commercial National Bank of Macon, Ga., was
—Assignee W. D. Gray of the Franklin Savings & Banking
formally opened on Aug. 5 and is said to have had a most
Co. of Cleveland, which assigned July 6, has been authorized
auspicious start. The new bank is operated in connection
to pay a 20% dividend to the creditors. The deposits, it is
with the Commercial & Savings Bank of the same city. Its
understood, were in the neighborhood of $25,000.
officers are: E. Y . Mallary, President; Cecil Morgan and J . J.
—J . J . Rowe has become an Assistant Cashier of the Cobb, Vice-Presidents; and E. N. Lewis, Cashier. Messrs.
First National Bank of Cincinnati, of which his father, Mallary and Cobb are respectively President and Cashier
W. S. Rowe, is President.
of the Commercial & Savings Bank. The capital of the Com
—The Corn Exchange National Bank of Chicago began mercial National was originally fixed at $125,000, but at a
business on the 3d inst. in its imposing new building at the meeting of the shareholders shortly before its opening it
northwest corner of La Salle and Adams streets. The was voted to increase the amount to $250,000.
structure is of the “ skyscraper” type, being sixteen stories
—The consolidation of the First National Bank of Hatties
in height. The entire second and third floors are utilized by
burg, Miss., with the National Bank of Commerce of that
the bank, the ground floor having been arranged in offices city became effective on the 6th inst. The united bank
suitable for bond and brokerage houses. The bank's quar bears the title First National Bank of Commerce, and it has
ters are richly finished in marble and bronze, and furnished a paid-up capital, it is said, of $425,000. The management
correspondingly, the equipment embracing all modern ap is as follows: J . P. Carter, President; F . W. Foote, Acting
pliances to be found in a banking institution alert to the re Vice-President; G. L. Hawkins and John Kamper, Vice
quirements of its patrons and its business.
Presidents; It. C. Hauenstein, Cashier; G. J . Hauenstein,
—The Chicago Title & Trust Co. of Chicago has been Assistant Cashier. F. L. Peck, President of the Mississippi
authorized by Judge Merritt W. Pinckney to pay a final Central R R ., and J. T. Jones, President of the Gulf & Ship
dividend of ‘S)/2% to the creditors of the Globe Savings Bank Island R R ., are members of the directorate.
of Chicago, which failed in 1893, its President, Charles W.
— About $40,000 is said to have been distributed to the
Spalding, being sent to prison. At the time of its failure, depositors of the Citizens’ Savings Bank of Los Angeles in a
the deposits of the Globe Savings Bank amounted, it is said, 10% dividend paid by Receiver Kelsay on Ju ly 3 1. The
to $403,340, and, of this sum, 5 3 ^ % , which includes the institution suspended in January last.
newly-declared dividend of 33^% , has now been returned to
— A statement issued on the 6th inst. by Receiver James
the depositors.
P. Edoff of the California Bank of Oakland, Cal., reports
—It is stated that the directors of the National Bank of the payment of 30% to the depositors since the suspension of
Commerce of Minneapolis (which consolidated in June with the bank on Nov. 12 last.
the Northwestern National Bank), have declared a dividend
—The Crown Bank of Canada (head office Toronto) has
in liquidation of $150 a share, or $1,500,000—the total of the
been merged with the Northern Bank of Canada (head office
capital and surplus combined. The bank is said to still
Winnipeg), the arrangement whereby the Northern purchases
own its building, believed to be worth about $350,000.
the assets and assumes the liabilities of the Crown Bank
—The Merchants’ National Bank of St. Paul, Minn.,
having gone into effect on July 2. The proposition to merge
is distributing gratis a pocket booklet giving much useful was ratified by the stockholders of the respective institutions
political data. The little publication is styled “ Political at their annual meeting in February last and confirmed by
Manual for 1908” , and is copyrighted by the Franklin Act of Parliament assented to on June 17. The name of
Company of Chicago. It contains a summary of the plat the consolidated bank is the Northern Crown Bank. Its
forms of both parties, the electoral and popular votes since head office is at Winnipeg. It has an a ithorized capital of
1896, the biographies of the present candidates, a list of $6,000,000, of which $2,200,000 is paid in. The “ rest” and
the Presidents, Vice-Presidents, Speakers of the House, undivided profits stand at $240,000. The Crown Bank had
and Cabinets since 1789, and gives the Declaration of Inde an authorized capital of $2,000,000, with about $958,000
pendence, the Monroe Doctrine, the Naturalization laws paid in, while the Northern had an authorized capital of
. of the United States, Requirements Regarding Registration $6,000,000 with about $1,240,000 paid in. The banks
of Voters, &c., &c. A little colored chart accompanying merge on an equal basis, the stockholders of each becoming
the Manual shows at a glance the Presidential vote from stockholders of the Northern Crown Bank. The officers of
1876 to 1908 in the various States.
the latter are: President, Sir D. II. McMillan, K . C. M. G.;
—The sale of all but a few of the assets and property of Vice-Presidents, Edward Gurney and Capt. William Robin
the failed Hot Springs National Bank of Plot Springs, S. D., son; General Manager, J . W. do C. O’Grady; Secretary, G.
for the sum of $53,061 has been authorized. The items de C. O’Grady and Superintendent of Branches, Robert
not included in the sale are the following: Amount remitted Campbell.
F A L L R IV E R M IL L D IV ID E N D S FOR N IN E M O N T H S
OF 1908.
Thirty-three cotton-manufacturing corporations located
in Fall River which furnish reports of operations have de
clared dividends during the third quarter of the year. The
total amount paid out is decidedly smaller than for the
corresponding period of 1907. The aggregate of the amount
distributed has been $400,125, or an average of 1 .5 9 % onthe
capital. Twelve mills declared smaller dividends than in
1907, one passed its dividend and fourteen maintained last
year’s percentage. In 1907 the amount paid out by thirtytwo mills was $664,850, or an average of 2 .7 0 % . In 1906
thirty mills disbursed $367,275 or 1 .6 1 % on the capital.
In 1905 the aggregate distribution was $215,650 or 0 .9 9 % .
In 1904 twenty mills paid out $150,750, or an average of
0 .7 0 % . In 1903 thirty-one mills paid out an average of
1 .4 4 % ; in 1902 the average rate was 1 .5 0 % . In 1901 the
average percentage was 1 .1 2 % and in 1900 the average rate
of distribution was 1 .8 1 % .
Third Quarter.
1908 and 1907.
Dividends 1908
Dividends 1907
i n 5. ( + )
Amount.
Amount.
D e c .( -)
i
$
Capital.
%
American Linen Co..... ..........
Ancona Mills..........................
Arkwright Mills....... ..............
Barnard Mfg. Co_____ _____
Border City Mfg. Co.............
Bourne Mills..........................
Chace Mills.......................... ..
Conanlcut Mills......... ............
Cornell Mills............................
Davis Mills..............................
Davol Mills.............................
Flint M ills..............................
Granite Mills..........................
Hargraves Mills............. ........
King Philip Mills....................
Laurel Lake Mills.......... ..
Luther Mfg. Co.................... .
Mechanics’ Mills...................
Merchants’ Mfg. Co...............
Narragansctt Mills ...............
Osborn M ills......... ................
Parker Mills............................
Pocasset Mfg. Co....... .......... .
Klchard Borden Mfg. C o ...
Sagamore Mfg. Co.................
Soaconnet Mills.................... .
Shove M ills............................
Stafford Mills......... .............. .
Stevens Mfg. Co...................
Tccumseh Mills......................
Troy Cot. & Wool. Mfg. Co
Union Cotton Mfg. C o ___
Wamnanoag Mills.................
Weetamoe Mills.....................
S
800,000
IX
300,000 a X X
450,000
1H
495,000
IX
1 ,000,000
1 ,000,000
1 , 200,000
\*
%
$
12,000
1,500
6,750
7,425
15,000
10,000
12,000
IX
alX
IX
7,500
— 6,000
6,750
9,900
— 2.475
70,000 — 55,000
15,000
— 5,000
18,000
+ 6,000
4,500
— 1,500
28,000 — 20,000
7,500
6,000
+ 1,500
23,200 — 14,500
2
7
IX
2
24,000
IX
300,000
1
3,000
400,000
2
8,000 7
500,000
7,500
XX
XX
500,000
7,500 <1I X
XX
580,000
8,700
4
IX
1 ,000,000 2
20,000
20,000
2
800,000
12,000
12,000
XX
IX
1,500,000
22,500
22,500
IX
600,000
3
12,000
18,000
2
350,000
5,250 No dl vldend
m
15,000
750,000
11,250
2
IX
12,000
1 , 200,000
18,000 h \ X
IX
8,000
400,000
2
8,000
2
11,250
750,000
11,250
IX
IX
12,000
800,000
12,000
IX
IX
18,000
1 , 200,000
18,000
XX
50,000
1 ,000,000 2
20,000 5
90,000
900,000
2
18,000 10
600,000
9,000 No dl vldend
IX
5,500
550,000
8,250
1
IX
15,000
1 ,000,000
15,000
XX
10,500
700,000 No dl vldend
XX
11,250
11,250
750,000
IX
18.000
18,000
6
300,000
8
96,000
18,000
1 , 200,000
IX
7,500
7,500
750,000
1
2
10,000
7,500
500,000
IX
ix
xx
\x
\x
xx
l
25,125,000 1.59
a On $100,000 preferred stock,
$800,000.
d On
400,125
2.70
+ 6,000
+ 5,250
— 3,750
+ 6,000
— 30,000
— 72,000
+ 9,000
+ 2,750
— 10,500
— 78,000
— 2,500
664,850 — 264,725
capital of $400,000.
A On
capital or
Combining the foregoing results with those of the half
year, we have the following exhibit for the nine months. It
is seen that on a capitalization of $25,125,000 the mills have
paid out in dividends $1,362,425 in the nine months of the
present year, or an average of 5 .4 2 % , against 7 .2 7 % in 1907,
4 .8 7 % in 1906, 2 .1 3 % in 1905, 3 .0 6 % in 1904, 4 .3 6 % in
1903 and 4 .5 9 % in the like period of 1902. In 1901 the
average dividend was 4 .2 8 % , in 1900 it was 6 .2 5 % and in
1899 it readied 3 .6 8 % .
Nine Months.
1908 and 1907.
Dividends 1908
Capital.
%
$
800,000
American Linen Co________
4X
300,000
Ancona Mills..........................
4X
450,000
4X
Arkwright Mills ___________
495,000
Barnard Mfg. Co....... ............
5X
4
Border City Mfg. Co............. 1 ,000,000
1 ,000 ,001) 3
Bourne M ills..........................
6
Chace M ills............................ 1 ,200,000
4
300,000
Conanlcut Mills......................
400,000
9
Cornell Mills............................
500,000
Davis Mills...............................
4X
500,000
Davol M ills....... .............. ..
4X
580,000
Flint Mills...............................
ax
6
Granite Mills.......................... 1 ,000,000
800,000
Hargraves Mills......................
4X
King Philip Mills.................... 1,500,000
4X
Laurel Lake M ills................
600,000 1 1
Luther Mfg. Co......................
350,000
XX
5
Mechanics’ Mills______
750,000
Merchants’ Mfg. Co------------- 1,290,000
■XX
Narragansctt M ills........... ..
a
400,000
Osborn Mills......................
750,000
4X
800,000
Parker Mills............................
4X
Pocasset Mfg. Co.................... 1.2 0 1.000
4X
l
.
000,00
Richard Borden Mfg. C o ...
XXX
900,000 10
Sagamore Mfg. Co..................
600.000
Seaconnet Mills......................
4X
550,000
Shove M ills............................
4X
Staff jrd Mills......... ................. 1 .000,000
4X
700,000
Stevens Mfg. Co....................
XX
750,000
8
Tccumseh Mills......................
300,000 18
Troy Cot. itr Wool. Mfg. Co.
Union Cotton Mfg. Co......... 1 ,200,000
4X
750,000
3
Wampanoag Mills............. -5
500,000
Weetamoe Mills......................
Total..................................... 25,125,000
391
T H E CHRONICLE
A ug . 15 1908.1
Amount.
%
i
36,000
4,500
20,250
27,225
40,000
30,000
72,000
12,000
36,000
22,500
22,.;00
37,700
60,000
36,000
67,509
66,000
4X
xa x
4X
h
18V*
ax
4X
4X
11
4X
4X
8
ax
4
4X
5
No dl
5
4 >4
ax
4
4
4X
X2X
5,250
37,500
54,009
24,000
33,750
36,000
54,000
115,000
90,000 20
27,000 No dl
3
24,750
45,000
3X
10,500
■XX
60,000
4X
54,000 57
54,000 23 X
3
22,500
25,000
■xx
5.42 1.362,425
Inc. ( + )
or
Amount. Dec. <— )
Dividends 1907
$
$
36,000
10,500
— 6,000
20,250
24.750
+ 2,475
185,000 — 145,000
35,000
— 5,000
49,500 +22,500
13,500
— 1,500
44,000
— 8,000
22,500
18,000
+ 4,500
46,400
— 8,700
55,000
+ 5,000
32,000
+ 4,0 00
.
67,500 ____
30.000 + 36,000
vldend
+ 5.250
37,500
38,000 + 16,000
22,000
+ 2,0 0
30,000
+ 3,750
32,000
+ 4.0 00
36,000 + 18,090
110,000
+5,0 00
180,000 — 90,000
vldend
+ 27,000
16,500
+ 8,2 50
35,000 + 10,000
29,750 — 19,250
33,750 + 26,250
171,000 — 117,000
282.000 — 228,000
22,500 ________
24,375
+ 625
7.27 1,790,275 — 427.850,
D E B T S T A T E M E N T J U L Y 31 1908.
The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued July 31 1908. For statement of June 30 1908,
see issue of July 25 1908, page 201; that of July 31, 1907,
see Aug. 10 1907, page 322.
INTEREST-BEARING DEBT JULY 31 1908.
------------ Amount Outstanding--------Amount
Registered. Coupon.
Total.
Issued.
Interest
Title of Loan—
Payable.
$
$
S
$
2s, Consols of 1933.........
Q.-J. 646,250,150 641,123.200 5,126,950 646,250,150
3s. Loan of 1908-1918..
Q.-F. 198,792,660 40,493,800 23,451,660 63,945,460
4s, Loan of 1925.............. Q .-F. 162,315,400 97,065,150 21,424,750 118,489,900
2s, Panama Canal Loan..Q .-N .
54,031,980 54,599,980
32,000 54,631,980
3s, Certs, of Indebtedness.Mat.
15,436,500 14.186,500 ------------14,186,500
Aggregate Int.-bearing d e b t..1,077,426,690 847,468,630 50,035,360 897,503,990
Note.— Denominations of bonds are:
Of $10, only refunding certificates: of $20, loan of 1908, coupon and registered
Of $50, all Issues except 3s of 1908; of $100, all Issues.
Of $500, all except 5s of 1904, coupon; of $1,000, all Issues.
Of $5,000. all registered 2s, 3s and 4s; of $10,000, all registered bonds.
Of $20,000, registered 4s. loan of 1907; of $50,000, registered 2s of 1930.
DEBT ON WHICH INTEREST HAS CEASED SINCE M ATURITY.
July 31.
June 30.
Funded loan of 1891, continued at 2 % , called May 18
$32,000 00
1900, Interest ceased Aug. 18 1900......... ................... ....
$32,000 00
24,500 00
Funded loan of 1891, matured Sept. 2 1891....................
24,500 00
72,600 00
72,600 00
Loan of 1904, matured Feb. 2 1 9 0 4 ..______ __________
2,879,850 00
Funded loan of 1907, matured July 2 1907...................... 3,065,550 00
18,100 00
Refunding certificates, matured July 1 1907--------------18,270 00
Old debt matured at various dates prior to Jan. 1 1861
and other Items of debt matured at various dates
916,695 26
917,095 26
subsequent to Jan. 1 1861..............................................
Aggregate debt on which Interest has ceased since
maturity...................... ...................................................$4,130,015 26 $3,943,745
DEBT BEARING NO INTEREST.
United States notes......................................................................................... $346,681,016
Old demand notes......... .................................................- .............. ...............
53.2S2
National bank notes— Redemption account..................- .......................... 57,393,588
Fractional currency, less $8,375,934 estimated as lost or destroyed. .
6,862,374
26
00
50
00
28
Aggregate of debt bearing no Interest........... ......................... - .......... $410,990,260 78
RECAPITULATION.
Classification—
Interest-bearing d e b t...........
Debt Interest ceased..............
Debt bearing no Interest____
July 31 1908.
$897,503,990 00
3,943,745 26
410,990.260 78
Increase( + ) or
June 30 1908.
Decrease (— ).
$897,503,990 00 ...........................
4.130,015 26
— 186,270 00
426,056,397 28
15,066,13650
Total gross debt.................. $1,312,437,996 04 $1,327,690,402 54
Cash balance In Treasury*..
353,628,173 34
389,557,993 16
Total net debt....................
$958,809,822 70
— $15,252,406 50
— 35,929,819 82
$938,132,409 38 — $20,677,413 32
* Including $150,000,000 reserve fund.
The foregoing figures show a gross debt on July 31 of
$1,312,437,996 04 and a net debt (gross debt less net cash
in the Treasury) of $958,809,822 70.
T R E A S U R Y CASH AN D D E M A N D L IA B IL IT IE S .—
The cash holdings of the Government as the items stood
July 31 are set out in the following:
ASSETS.
Trust Fund Holdings—
Gold coin.................
Sliver dollars....................
Sliver dollars of 1 8 9 0 ...
LIABILITIES.
Trust Fund Liabilities—
$
$
818,758,869 00 Gold certificates--......... 818,758,869 00
484,054,000 00 Silver certificates........... 484,054,000 00
4,903,000 00
4,903,000 00 Treasury notes of 1890..
Total trust liabilities. 1,307,715,869 00
Total trust fund_____ 1 307,715,869 00
Gen.Fund Liabilities—
Gen'l Fund Holdings—
26,032.554 16
45,752 .744 4 5 1National Bank5 % fund.
Gold coin and bullion___
34,485 ,260 0 0 1Outstanding checks and
Gold certificates..............
20,667,024 39
9,363 ,038 001 drafts _______________
Silver certificates......... ..
4,118 ,848 0 0 1Disbursing officers’ balSilver dollars___________
76,802,813 41
5,739 882 151 ances..............................
Silver bullion....................
5,654 ,634 0 0 1Post Office Department
United States notes-----3,035,881 89
13 .211001 a c c o u n t........................
Treasury notes of 1890-3,165,713 33
64,772 332 0 0 1Miscellaneous Items____
National bank notes____
------------------------24,222 648 591
Fractional sliver coin.. .
74 6 3 1Total gen’l liabilities. . . 129,693,987 18
Fractional currency____
3,077 284 40]
Minor coin........................
21 ,707 75|
Bonds and interest paid.
I
Tot. in Sub-Treas'les. 197,212,664 97
In Nat. Bank Depositaries
Credit Treasurer of U .S . 118,836,354 59
Credit U .S .d ls. officers.
11,824,390 11
Total In banks.............. 130,660,744 70
In Treas. of Philippine Islands—
Credit Treasurer of TJ.S.
3,906.948 661 Cash Balance and Reserve—
Credit U . S. dls. officers.
1,541.802 19 Total cash and reserve.. 353,628,173 34
Made up of—
Total In Philippines..
5,448,750 85 Available........... ............... 203,628.173 34
and
Reserve Fund—
Reserve Fund Holdings—
Gold coin and bullion... 150.000.000 0 0 1 Gold&bull.150,000,000 00
Grand total..................1,791,039.029 52|
Grand total.................. 1.791,038,029 52
T R E A S U R Y C U RREN C Y HOLDINGS.—The following
compilation, based on official Government statements, indi
cate s the currency holdings of the Treasury on the first of
May, June, Ju ly and August 1908. Statements of corres
ponding dates in previous years will be found in our issue of
August 10 1907, page 322.
TREASU RY NET HOLDINGS.
May 1 ’08. June 1 ’08. July 1 ’08. Aug. 1 ’08.
Holdings InSub-Treasuries—
$
$
$
$
Net coin and gold bullion................193,772,017 213,684,683 213,202.241 230,238,004
Net sliver coin and bullion_______ 42.066,042 34,167,637 27,038,478 19,221,768
Net United States Treasury notes
12,735
16,101
13,916
13,211
Net legal-tender notes...................... 10,449,437
1,488,742
6,491.178 5,645,634
Net national bank notes.................. 49,767,343 60,997,318 65.902.387 64,772,332
Net fractional silver..............
20.267,842
22,155,411 23,727,308 24,222,649
Minor coin, &c................................... 2,794,437
2,906,910
3,237,412 3,099,067
Total cash In Sub-Treasuries..319,129,853 345,416.802 339.612,920(1347,212,665
Less gold reserve fund...................... 150.000,000 150,000,000 150,000,000 150,000,000
Cash bal. In Sub-Treasuries. ..169,129,853 195,416,802 189,612,920 197,212,665
Cash In national banks................ ..200,713,219 164,912,412 165.219,315 130,660,745
Cash In Philippine Islands............. 3,766,421
2,451,942
3,404,751 5,448,750
Net Cash In banks, Sub-Treas.373,209,493 362,781,156 358,236,980 333,322,160
Deduct current liabilities.a........... 121,612,506 121,847,900 118,678,993 129,693,987
Available cash balance............... 251,596,987 240,933,256 239,557,993 203,628.173
a “Chiefly disbursing officers’ balances."
d Includes $5,739,882 silver bullion and $3,099,067 minor coin, Ac., not Included
In statement “Stock of Money.”
392
TH E CHRONICLE
ptmietaryl (£o uimcvcialg ngUsIi^jexur
(F r o m o u r o w n c o r re s p o n d e n t.)
London, Saturday, August 1 1908.
For 13 years past the European bourses have never for
any considerable time been free from the disturbing in
fluences of politics. Our markets were just recovering
from the bad effects produced in Germany by the visit
of the President of the French Republic to London, and of
King Edward’s meeting with the Czar at Rcval, when the
latest incident in connection with Turkey has been sprung
upon us. Naturally, the restoration of the 187G Consti
tution by the Sultan is welcomed in Western Europe.
All the same any change which might be expected to en
danger the equilibrium in the Baltic Peninsula is naturally
viewed with a large measure of anxiety. We have so long
been accustomed to look upon the Near East as a fruitful
source of trouble that until it is seen how the new Consti
tution works it is not surprising that the Western public
should regard it with a degree of scepticism.
In connection with the; events now in progress a very inter
esting book by Sir Charles Elliott was published some weeks
back by Mr. Edward Arnold. Sir Charles’s long connnection
with the East in various diplomatic capacities gives to his
book exceptional interest and to his opinions unusual
weight. He shows very clearly that in recent years there
was quite as much disaffection amongst the Mussulmans as
amongst the Christian population, but it was the policy
of the Sublime Porte to conceal the former. Ho attributes
this very largely to ill-advised interference by the great
Powers in Turkish affairs with a view of ameliorating the
tension in general and of the Armenians in particular. Sir
Charles is clearly of opinion that the massacres of the latter
in 1896-7 were mainly due to this cause. Rightly or wrongly
the Armenians got the impression that Russia and England
between them were about to establish an independent
Armenian State. Of course there was no intention in the
case of either Power to go to war, for the Armenians, who,
by the way, Sir Charles explains, are not a compact body
but are spread over vast areas in the Turkish Empire.
The Turks on their side were alarmed by the disaffection
of the Armenians, whom they had previously regarded as
peaceful traders, and the massacres which shocked the
public both in America and in Europe were the result. The
great Powers, as is well known, did nothing, and Sir Charles
Elliott arrives at the conclusion that the conditions being
what they were, it is exceedingly doubtful even if a war
would in any way have bettered their position.
For the reasons given above the stock markets continue
utterly lifeless and uninteresting, and cheap money, which
Js causing so much activity, as we learn by cable, in Wall
Street, has hardly any influence upon the London Stock
Exchange. Consols have partially recovered from the
effect of the selling by the India Council. The American
railroad market reflects the position on the other side of
the Atlantic, but home securities arc for the most part
neglected. Partly this is due to the large number of new
issues which have been offered to the British public of late,
amounting in the 12 months ended June 30 last to con
siderably over £1 00,000,000.
Money here is as cheap as in New York. Day-to-day
loans vary from one-half per cent up to % per cent. Dis
counts of really first-class paper are down to about l % %
or even less. The Bank of England return is a strong one,
although not so good as last week. Coin and bullion in
both departments has declined to £37,00 0,0 00, being a
drop of nearly three-quarters of a million in the week,
and the reserve at £20,000,000 likewise shows a drop of
£7 50 ,0 00 . A year ago the coin and bullion was only 3 5 %
million sterling and the reserve just under £2 4,50 0,0 00.
The real crux of the situtaion, however, is the continued
demand for the Continent for the South African gold arriv
ing week by week in this market. Again on Monday the
bulk of it was taken on French and German account. Since
then, however, the exchanges of both Paris and Berlin
have moved in favor of London and it is hoped that ere
long this demand will be satisfied, and that the Bank of
England will be able to meet the ordinary home demand,
as well as the requirements for Egypt and South America,
out of the new arrivals continually consigned to London.
[V O L . L X X X V I1 .
The India Council had a partial success this week at the
sale of its drafts. The usual 10 lacs were offered, but only
3 lacs in bills and one lac in transfers were disposed of.
The total sales for the financial year so far have realized
under one-half a million sterling, compared with £ 7 ,6 0 0 ,0 0 0
at this time last year. Against this it has to be remembered
that the Council has drawn upon London to the extent of
over £ 5 ,000 ,00 0.
The silver market has been quiet all the week, the price
ranging from about 24 3-1 Gd. to 24 5-16d. per oz.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last four years:
190.S.
1907.
July 29.
July 3 1.
£
£
29,533,275
5,845,433
46,064,079
15,047,299
28,843,967
26 ,037.114
37,120,389
190G.
1905.
Aug. 1.
£
30,577,825
9,492,805
42,394,893
15,9 77,133
29,420,538
24,629,187
36.757,012
190 1.
Aug. 2.
Aug. 3.
£
£
30,0/2,720
9,790,370
43,357,654
16,752,444
29,185,888
25,261,435
36,884,155
29,922,270
Circulation................
8,664,699
Public deposits----Other deposits.........
43,400,967
16.0S2.513
Governm’t securities
29,713,386
Other securities----24,367,412
Reserve, notes&coln
35,S39,082
Coln&bull.,both dep
Prop, reserve to Ua46 4
50
47 7-16
billtles............p. o.
47 7-10
4
214
3.4
Bank rate____ p. c.
24
86 15-16
83 4
87 9-16
Consols, 2A p. c —
99 5-16
30 l-l« d .
24 4 d. 3 1 15-lfld.
Silver____________
274d.
Clear.-houscreturns 193,577,000 :2 56,139,000 272,389.000 :276,003.000
29,2/8,235
6,027,370
4 1,735,322
15,703,766
26,864,809
23,282,258
34,110,493
484
3
s/4
270.
The rates for money have been as follows:
Bank of England r a t e ...........
Open Market rate- Bank bills—3 months----— 4 months___
— 6 months----Trade bills—3 months----— 4 months___
Interest allowed /or deposits —
B y Jolnt-3tock banks...........
B y discount houses:
At call...............................
7 to 14 d a ys......................
July 3 1 .
1 4 @ 1 7-10
14
2 4 @ 24
2
July 24.
July 17.
24
24
24
1 4 @ 1 7-16 1 K @ 1 K
m
14
m y2
24
I K @2
14
2
2.4 @ 2 4
2@ 2 4
1
1
1
1
1
IK
1
IX
July 10.
1 4 ® l 5-16
14
i4
1 4 @2
2@ 2 4
1
IK
IK
The Bank rates of discount and open market rates at the
chief Continental cities have been as follows:
Aug. 1.
Bank
Open
Rate. Market.
14
P a r i s ....... ............... . . . 3
2X
Berlin____________
Rates o/
Interest at—
Hamburg................
F ra n k fo rt........... Amsterdam ------Brussels ________
Vienna _________
St. P etersb u rg ... - - Madrid.................... --Copenhagen......... .
4
2K
2K
24
24
54
44
•34
nom.
4
5
July 25.
Dank Open
Rate. Market.
3
IK
4
- 4;
4
24
4
2 13-10
3
24
3
24
4
3 7-16
nom.
5.4
4
44
()
5
July IS.
July 1 1 .
Dank Open
Bank
<pm
Rate. Market. Rule. Market.
3
4
4
4
3
4
54
44
6
14
2K
2K
2 13-16
3
4
4
4
3
24
34
nom.
44
5
14
24
24
2 13-16
24
4
54
44
34
nom.
0
44
5
Messrs. Pixley & Abell write as follows under date of
July 30:
G O L D .—T h e w h o le of th is w eek ’s p arce l of gold from th e C ape, a m o u n tin g to
a b o u t £ 1 ,0 0 0 ,0 0 0 , w as a g a in ta k e n b y th e C o n tin e n t, th o u g h a t th e low er p ric e o f
77s. 10 0 ., ow in g to less fa v o ra b le e x c h a n g e s . P a ris w as th e chief b u y e r, s in c e
o u r la s t th e B a n k of E n g la n d h a s rece iv ed £ 2 1 ,0 0 0 , w h ilst £ 1 0 0 ,0 0 0 h as been w ith
d ra w n fo r S c a n d in a v ia , all In s o v e re ig n s. N e x t w eek we e x p e c t a b o u t £ 4 1 0 ,0 0 0
fro m S o u th A frica. A rriv a ls — C ap e , £ 1.015.000: W e st In d ie s, £ 14,000; W e st A fric a .
£ 6 9 .0 0 0 ; A u s tra lia , £ 1 5 ,0 0 0 ; to t a l, £ 1 ,1 1 3 ,0 0 0 . S h ip m e n ts — B o m b a y , £ 5 5 ,0 0 0 ;
C a lc u tta . £ 1 5 ,5 0 0 ; to ta l, £ 7 0 .5 0 0 .
S I L V E R .— Q u o ta tio n s h a v e flu c tu a te d b e tw e e n 24 3 -lfld . a n d 2 4 4 d . , a n d th e
m a r k e t closes a t 24 5 -1 6 ., o r 4 d . h ig h e r th a n la s t w eek . S p e c u la to rs co v e rin g
th e ir " s h o r t ” c o m m itm e n ts h a s been th e chief s u p p o r t of th e m a rk e t, a n d b u t fo r
th is p ric es co u ld n o t h a v e b een m a in ta in e d . T h e B o m b a y q u o ta tio n is 11s. 62 13-16
p e r 100 to la h s . A rriv a ls — New Y o rk , £ 1 3 1 ,0 0 0 ; W est In d ie s, £ 4 ,0 0 0 ; to ta l, £ 1 3 5 ,
000. s h ip m e n ts — B o m b a y , £ 5 1 7 ,5 0 0 ; C olo m b o , £ 2 ,5 0 0 : C a lc u tta , £ 1 0 ,0 0 0 ; to t a l.
£ 5 3 0 ,0 0 0 .
The quotations for bullion are reported as follows:
GOLD.
J u l y 3 0 . J u l y 23. |
S IL V E R .
J u l y 30.
London Standard.
s. d.
s. d. | London Standard.
d.
B ar g o ld . One, o z .......... 77 10
77 10* i | B a r silv e r, fine, o z ------ 24 5-16
U . S . go ld , o z - - - .......... 76 5 4 76 5 4 I " 2 m o . d e l i v e r y . 24 5-16
G e rm a n g o ld co in , o z , . 76 5 ,4 76 5 4 IC ak e silv e r, o z ................... 2 6 4
F re n c h gold co in , o z . . . 76 5 4 76 5 4 | M exican d o lla r s ................n o m .
Japanese yen-------------- 76 5 4 76 5 4 I
2 3 .]
d.
24 3-16
24 3-10
264
nom .
J u ly
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons.
IM P O R T S .
F o r ty - s e v e n w e e k s —
1907-08.
1908-07.
1905-03.
Im p o rts of w h e a t____________cw t 8 4 ,6 7 7 .3 5 0 8 3 ,9 9 0 ,7 5 2 83,45 3 ,0 9 0
B a r l e y ........................
19 114 ,6 8 6
1 8,529,134 19,233,000
O a ts
........................
1 1 6 81.199
9,5 7 7 ,9 1 4 14,027,600
Peas
. .
1 3 2 7 ,5 7 0
1,5 0 8 ,0 5 0
1,542,645
L eans
________
9 0 1,060
3 9 9,950
561,880
44,461,470
41,153,300
In d ia n c o r n .................................... ” 1135,824,657
F lo u r ____________________ _______1 2 , 7 0 4 , 8 0 0 12,221,772 13,191,870
1901-05.
9 3 ,4 6 8 ,8 00
19,686,900
15,177,700
1,970,839
1 ,384,990
3 6 ,4 9 4 ,0 5 0
1 0 .0 3 1 ,8 20
Supplies available for consumption (exclusive of stock on
Sept. 1):
1907-0S.
W h e a t Im p o rte d ....................... . c w t . 8 4 ,6 7 7 ,350
Im p o rts of flour ..................................1 2 ,7 0 4 ,8 0 0
Sales of h o m e -g ro w n .........................3 1 ,8 3 7 ,1 3 2
1908-07.
8 3 ,9 9 0 .7 5 2
12,221,772
3 3 ,7 1 0 ,2 8 8
1905-06.
1904-05.
8 3 ,4 5 3 ,6 9 0 9 3 ,4 6 8 ,8 00
13,191,870 10,031,820
27,59 4 ,9 4 8 13,562,079
Total ........... ............................ 129,219,282 129.922.S12 124,240,508 117,062,699
Average price wheat, week_____
3 1s. 5d.
32s.did.
30s. 3d.
32s. 2d.
Average price, season...................... 33s. Od.
27s. (id.
28s. 8d.
30s. 8d.
The following shows the quantities of wheat, flour and
maize afloat to the United K ingdom :
This week.
W h eat......................................... qrs. 1 , 595 ,00 0
Flour, equal to ....... ...........................
90,000
Maize....................................................
515,000
Last week.
1 , 760,000
105,000
675,000
1906-07.
2,385,000
155,000
1,000,000
1905-06.
2,509,000
131,000
1,160,000
English Financial Markets—- Per Cable.
The daily closing quotations for securities, tfcc., at London,
as reported by cable, have been as follows the past week:
London.
Sat.
Week ending Aug. 14.
1. 24 1-10
.Silver, peroz....... ............
Consols, now, 2)3 par cents. - 83
80*4
hi
For account----------- -------- - 8 >)i
Frcncli rentes tin Paris)-.fr•_ 96.40
. . 80)4
Russian Imperial Is----do
do
New 5 s ... . 90),
Amalgamated Copper Co-------8484)4
)t
_ 10*,
b Anaconda Mining Co
,'e 90
90)4
Atchison Topeka' & Santa Fe
Preferred ........... .................90) 4
Baltimore & Ohio------------------- 95)3
. . 85
Preferred ___
. . . 170)4
Canadian Paclilc
. . . 44)3
44)4
Chesapeake & Ohio__________
7
Chicago (Ireat Wester
117*4
Chicago Mllw. & St. Paul. .. .. 117)3
L-.
Denver & Rio Grande com
.. 28
Preferred ______ _____ d .. 09)3
Erie, common............................. 24)*
First preferred.................... I ltd
Second preferred__________ 30)3
Illinois Central...................... .1434$
Louisville A- Nashville_____ 1124
Mexican Central...................... 10) (
Missouri Kansas & Tcx., com. 32
Preferred....... ..................... 0(5)3
Nall anal UR. of Mexico___ 51
N. V. Central & Hud. R ver. 111
N. Y. Ontario & W estern... 43)3
Norfolk & Western, coin____70
Preferred .............................83
Northern Prclftc................. . . 147
a Pennsylvania.......... ............ 0 4 ’ *
a Reading C o ._____________. 64)4
a First pref -rrod................. 44
a Second pn f jrred............. . 44
Rock Island Co......................... 19
Southern Paclilc....................
Southern Railway, common . 2014
Preferred ............................. 51 'A
Union l’aclilc, common..........101)4
Preferred ....... ...................... 85
U. S. Steel Corp., common... 48)4
Preferred ________ ______ .114*4
. 14
Preferred ............................ . 28
Extended 4s______ ______
a Price per share.
Mon.
24
8 5 3-16
8 5 5-1(5
9(5.45
8'5)4
9-5)4
85)4
10 w
91)4
905
9(5-1
Tues.
97)5
98
23)4
8(5)4
8 5 11-10
90.27 H
80)4
96)4
83
9 Vs
90)4
85)4
170)4
44)4
85
177
44
118)4
28
150)4
28)4
149)4
28
70 H
25
41 )d
31
1 14
11354
17)4
33
00
5155
111*4
44
77
S3
147)4
04)4
0514
44
44
19)4
93*4
20)4
51)4
161)4
85)4
48)4
11 1-4
13)4
28%
03
88
170)4
4 1)4
7
15 1
28*4
7
70'4
245*
41VC
31 '
144
II 1
1754
33
00
50
11254
44)4
77
83
148
05
05)4
44
45
19)4
99
21
53
162)4
S5)j
48)4
h im
13)4
28’ 4
63
24 1-10 23 11-10
80 9-10 80 H
80 a-10
86%
9:5.40
90.25
87
80)4
9 >54
90)4
82)4
83)4
10
9)4
90)4
91)4
97
9754
97
9054
85
177*4
44)4
Erl.
Thurs.
Wed.
23 13-10
8 5 9-10
85%
9 1.27)3
86)4
96)4
85)4
10 '4
92
70
2454
41
30
14354
113V4
17)4
33
09*4
2454
4054
3054
143
115
..
33)4
07
50
113
44)4
77)4
82
149
04)4
00)4
50
112
9754
9054
80
175 H
43)4
7
149
28
23)4
40
30 54
142
113
10)4
100
101)4
20)4
51)4
102)4
10 0 5 4
85)4
47 M
113%
13)4
28
02
48)4
113
13 %
28)4
—
87)4
4054
11154
13 54
2/54
01
00
44
45
19
86
2 0 54
5054
Breadstuffs Figures Brought from Page 427.— The state
ments below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since /Vug. 1 for each of the last throe years have been:
Wheat.
Corn.
Barley.
Oats.
Rye.
66ft.190 lbs bush. 00 lbs. bush. 50 lbs. bush. 32 lbs. bushASlbs. bu. 50 f6s.
1,304,514
23.000
144,000
1,852,099
1,790,235
175,100
Chicago-----12.000
124,800
34.000
158,400
391.000
54,450
Milwaukee. 7,511
19,641
3,020
292,010
98,250
Duluth.........
13,189
01,220
148,3S0
* ’ 45*946
805,200
Minneapolis.
20,000
399.000
35.000
307.000
Toledo.........
07,300
89,907
02,518
Detroit.........
4,100
35,341
242,510
127,739
1,291
Cleveland__
*7*279
" *7*800
093,495
802,584
300,425
St. Louis___
57,525
3,000
7,000
226,500
140,800
179.000
Peoria.........
21,000
147.000
132,000
1,905,000
Kansas City.
Tot.wk.’OS
Same wk. ’07
Same wk. 00
412,022
304,472
431,105
Since Aug. 1
1908.........
1907____
1900____
412,022
753,095
824,241
2,123,927
0,788,950
7,167,767 . 2,729,485
2,089,084
6,441,511
3,892,401
1,978,372
5,355,940
347,840
150,712
390,163
80,579
80,274
79,443
2,123,927
5,180,828
4,024,002
3,,892,401
3,718,915
9,481,219
347,840
362,049
852,128
80,579
129,828
176,420
0,788,950
12,837,370
15,339,477
Week
Aug. 8 .
Wheat,
bush.
810,000
234,870
355,255
917,242
48,742
41,500
24,000
3S9.000
Corn,
bush.
24,725
10,270
18,995
28,887
38,158
23,000
Oats,
bush.
379,500
00,070
49,508
35,883
32,294
38,000
Darien,
bush.
1.200
113,034
36,433
Rye
bush.
1,955
1,210
2/100
1,000
3,990
1,162,494
Bushels.
14,801,700
2.704.000
1.008.000
12,080,000
544,000
2,170,000
Bushels.
Bushels.
95,400
12,050,000
101.500
9.592.000
5.024.000 054.500
3.856.000 2,320,500
1.192.000
9.200.000
Bushels.
414,400
2.182.500
3.449.500
12,302,500
Bushels.
7.920.000
5.880.000
14,272,000
9.920.000
Total_____ 0,222,700
33,319,700
41,520,000 3,231,900
18,408,900
37,992,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheal.
United
Kingdom.
Corn, Hour,
bush.
bbts.
5,120 62,271
8,123
921 49,303
20,515
7,435
500
5,288
9,515
7,904
4,749
3,996 2,550
17,036
Oats,
bush.
10,390
12,650
31,074
.......... 110,877
Total week
2.532,968
45.022 170,554
Week 1 9 0 7 ..’. --".2,004,527 1,065,410 146,509
54,899
210,094
25,844 110,877
.........
18,050
Rue,
bush.
25,844
Peas, Barku,
bush.
bush•
_____
2,508
2,508
41,285
The destination of these exports for the week and since
July 1 1908 is as below:
— Flour----------------------- Wheal----------- --------------- CornSince
Since
Week
July 1
Week
July 1
Week
1908.
Aug. 8 .
Aug. 8 .
1908.
Exnorls tor week and Aug. 8 .
bush.
bbls.
bush.
bush.
bbls.
921
408,799
911,210 4,911,913
United Kingdom.. . 89,092
25,015
202,410 1,621,752 5,552,208
Continent................ . 30,923
500
01,997
7,080
So. * Cent. A m er.. . 15,732
______
______
18.5S0
104,729
West Indies______ . 27,801
_ - ____
______
______
4,011
Itrlt. No. Am. Cols.
5,539
45,395
Other countries__ _
946
............
45,022
887,341 2,532,908 10.470,800
Total.................... .170.554
Total 1007............. ..146.569 1,131,089 2,004,527 9.027,000 1,005,410
Corn.
Continent:
Bushels.
Aug. 8 190S-. 14.720.000
Aug. 1 1 908 .. 14/400,000
Aug. 10 1907 .. 18.700.000
Total.
Bushels.
Bushels.
8.320.000 23,o;o,ooo
9.120.000 23,520,000
8.840.000 27,000,000
United
Kingdom.
Continent.
Bushels.
7.055.000
7.140.000
7.700.000
Since
July 1
1908.
bush.
77,921
50,512
4.S57
181,704
1,920
1,542
318,450
8,927.729
Total.
Bushels.
Bushels.
5.950.000 13.005.000
6.545.000 13.085.000
9.050.000 17.440.000
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports Aug. 8 1908, was as follows:
New York ...............
Boston.............................
Philadelphia..................
Baltimore_____________
New Orleans.................
Galveston........................
Montreal_____________
Buff ilo .............................
Toledo......... ...................
Detroit_______________
Chicago...........................
Milwaukee______ _____
Fort William__________
Port Arthur....................
Duluth......... ...................
Kirnncapolls
...........St. Louis......... ............ Kansas City....... ............
Peoria_________________
Indianapolis....................
On Lakes......... ...............
On Canal and River___
Total
Total
Total
Total
Total
Total
Total
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Wheat,
bush.
1,490,000
214,000
504,000
1,431,000
34,000
382,000
752,000
531,000
375,000
89.000
2,972,000
220.000
755,000
453,000
435,000
1,180,000
1,423,000
1,589,000
______
082,000
1,233,000
188,000
8 19 0 S ..10,998,000
1
10
11
12
13
15
1908..10,174,000
1907.-48,086,000
1900..31,723,000
1905..13,899,000
1904..12.558.000
1903. .12,538.000
Corn,
bush.
74.000
8,000
1,000
43.000
58.000
4.000
10.000
243.000
73,000
121.000
207,000
5.000
334.000
130.000
279.000
15.000
38.000
19.000
0,000
18,000
11.000
47,000
Barley.
bush.
59,000
1,000
29,000
152,000
42,000
9.000
5.000
1.000
36.000
32.000
98.000
19.000
40.000
25.000
37.000
28.000
48.000
7,000
165,000
G91,000
17.000
1.840.000
2.078.000
5.738.000
3.585.000
5.075.000
5.090.000
0.059.000
Rye,
bush.
3.000
IS,000
1.000
4,000
Oats,
bush.
372,000
19.000
59.000
00,000
93.000
112,000
104,000
11,000
’ L000
14*666
135.000
100.000
588.000
1,400,000
809.000
878.000
498.000
1.074.000
1.520.000
1.501.000
5.006.000
0,505,000
2.379.000
0.002.000
570.000
540.000
387.000
1,117,000
017.000
820.000
397,000
F O R E IG N T R A D E OF N E W Y O R K — M O N T H L Y
S T A T E M E N T .— In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs re-
Month.
1907.
$
47,489,941
44,771,752
52,025,828
53,005,913
50,255,042
50,004,930
49.729,151
January
February
March . .
A p ril___
M a y ____
June___
Ju ly____
Customs Receipts
at New York.
Exports.
Imports.
1908.
$
75,330,150
73,356,400
82,402,921
70,197,870
71,928,155
00,852,548
75,554,451
1908.
1907.
1908.
$
02,531,690
59,999,710
58,116,795
57,446,144
47,529,037
51,137,522
47,489,381
$
54,087,930
51.324,211
55,773,585
58,435,873
43,263,112
55,009,847
58,503,810
$
14,040,440
15,241,050
14,080.404
13,787,445
12,303,743
13,108,456
14,417,030
1907.
$
19.970.9S1
18,096,041
18,095,608
18,453,762
10,920,907
17,214,079
19,308,068
349,082.557 521.082,507 384,200,885 377,598,374 97.5S4.580 128,720,700
months have been as follows:
Silver— New York.
Gold Movement at New York.
* Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending Aug. 8 1908 are shown in the annexed statement:
Since
July 1.
Bushels
North Amer. 2,782,700
Russian____
152.000
Danublan . .
256.000
Argentine . . 2,530,000
Australian..
16,000
Oth. countrs. 480.000
Total
148,031
708,949
37,033
0,575
Total week......... 294,390 3,983,109
_
_
991,359
018,098
03,995
7,322
Week 1907............. 297,970 2,701,453
since Jan. 1 1968.10,121,381 50P 37,873 28,307,743 25,297,428 3047,935 1305,818
Since Jan. 1 1907.11,447,345 55,839,323 09,094,202 33,716,304 3152,326 1200,348
Wheat,
Expors from—
bush.
Now Y o r k ............ 580,908
Boston__________
8,000
Philadelphia____ 488,340
Baltimore............. 536,000
New Orleans____
24.000
Newport News—
24,000
Galveston......... ..
............
Mobile......................................
Montreal________ 891,000
1907.
Since
July 1.
Week
Aug. 8 .
Since
July 1.
Since
July 1.
Corn.
1908.
1907.
1908.
Merchandise Movement to New York.
Total receipts of flour and grain at the seaboard ports for
the week ended Aug. 8 1908 follow:
Receipts at—
New Y o r k _______
Boston....................
Philadelphia..........
Baltimore................
Richmond..............
New Orleans * ____
Newport News____
Norfolk___________
Galveston................
M obile....................
Montreal-------------
•
Wheat.
Exports.
111
43)4
77 54
82
145
6454
05
43
4454
17 54
9754
44
7054
83
1484
6 IH
65)4
44
45
19
98
20)4
51)4
The world’s shipments of wheat and corn for the week
ending Aug. 8 1908 and since July 1 in 1908 and 1907 are
shown in the following:
33)4
07
50
6 £ sterling.
Flour.
393
T H E CHRONICLE
A ug . 15 1908. \
Month.
Imports.
1908.
1907.
Exports.
1908.
Imports.
Exports.
1908.
1907.
1907.
7,585,759
1,300,840
1,925,862
900,777
1,471,272
9S9.058
509,791
388,410
66,925 1,367,113
335,588
1,230,143
630,087
7,150
1,514,602
135,985
72,395
2,321,848 11,077,173
209,610 25,508,220 2,902,213
438,390 7,987,053 21,792,992
970,77G 1,059,050 5,085,668
719,375 3,297,516
24,477 3,509,414
499,947 3,205,044
201,234
301,690
351,158 3,155,107
369,790 3,081,194
731,113 4,012,046
T o ta l........... 14,743,359
7,133,839 47,131,705 31,563,125
2,997,550 21,662,155
January ...........
February . . . .
M arch..............
April ........... ..
M a y ..................
June .................
J u ly ..................
National n anus.— m e lonowing miormatiun regaiumg
national banks is from the office of the Comptroller of the
Currency, Treasury Department.
N A T IO N A L B A N K S O R G A N IZ E D .
August 3 to August 7.
9 213— M a n a s n u a n National B a n k , Manusuuan, N . J.
Capital, $ 50,000 .
W illiam P. Taylor, Pres.; Henry W alnrlght, V .-P .; Randolph D.
___ __ __
.
W est. Cashier.'
_
9 214— The First National Bank of Ryder, N . D . Capital $2;>,000. A ug.
Peterson. Pres.; H . E . Johnson, V .-P .; C. II. Christiansen. Cashier.
9 215— The First National Bank of Hardin, Mont. Capital, $25,000 . J.
B. Arnold. Pres.; E . A . Howell, Cashier.
9 210— The First National Bank of Intercourse, Pa. Capital, $35,0 0 0 .
Willis R . K nox, Pres.; John L. Leaman and Elmer K . Denllnger,
V.
-P s.; Amos Hassler, Cashier.
9 ,217— The First National Bank o f TUden, Neb. Capital, $50,000 . J. M .
Klngcry, Pres.; Henry Schumacher, V .-P .: II. W . Klngerv, Cashier.
W . E . Brogan, Asst. Cashier.
(Conversion of the Tllden State
Bank.)
’
[VOL. LXXXVII
T H E CHRONICLE
39 4
L I Q U ID A T I O N .
7 ,7 7 1 — The Thomas National Bank, Thom as, O kla., was placed In voluntary
liquidation July 7 1908.
IN S O L V E N T .
7 ,2 7 3 — The First National B ank of Belle Plalne, M inn., was placed In charge
of Receiver A u g. 6 1 008.
C H A N G E OF T IT L E .
5 ,1 7 6 — The N ational Bank of Commerce of Hattiesburg, M iss., to “ First
N ational Bank of Commerce of Hattiesburg.’ ’
STO CK OF M O N E Y^IN T H E C O U N T R Y .— The follow
ing table shows the general stock of money in the country,
as well as the holdings by the Treasury, and the amount in
circulation, on the dates given. The statement for August 1
1907 will be found in our issue of August 10 1907, page 324.
— Slock of Money Aug. 1 1908-------- Money In Circulation—
Aug. l.
In United
Held In
Aug. 1.
States.
Treasury.d
1908.
1907.
$
$
$
Gold coin and bullion.*1,630,299,889
195,752.744
615,788,276
566,036.725
Gold certlflcates-a...........
34,485,260
784,273,609
614,461,389
Standard sliver dollars.
563,357,982
4,118.848
75,185,134
81,255,667
9.363.038
474,690,962
Silver certlflcates.a.
463,816,437
Subsidiary silver........... 147.005,385
24,222,649
122,782,736
122,248,618
Treasury notes of 1890.
4,903,000
13,211
4,889,789
5,881,050
5,645,634
341,035,382
United States notes------ 346,681,016
341,104,470
National bank n o te s...
692,088,991 64,772,332
627,316,659
586,519,204
5
Total
........................ 3,384,336.263 338,373,710 3,045,962,547 2,781,323,560
Population of the United States Aug. 1 1908, estimated at 87,614,000: circulation
per capita $34 77.
*A revised estimate by the Director of the Mint of the stock of gold coin was
adopted In the statement for Aug. 1 1907. There was a reduction of $135,000,000.
a For redemption of outstanding certlflcates an exact equivalent in amount of
the appropriate kinds of money Is held In the Treasury, and Is not Included In
the account of money held as assets of the Government.
d Tula statement of money held In the Treasury as assets of the Government does
ot Include deposits of public money In national bank depositaries to the credit of
the Treasurer of the United States, amounting to $118,836,354 59.
G O V E R N M E N T R E V E N U E AN D E X P E N D IT U R E S .—
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
July. From previous returns we obtain the figures for
previous months, and in that mannner complete the state
ment for the seven months of the calendar years 1908 and
1907. For statement of July 1907 see issue of Aug. 10 1907
page 324.
RECEIPTS AND DISBURSEMENTS (000s omitted).
000s omitted.
Jan.
Feb.
Mch.
April
May
June July.
££
Total
7
Mos.
Receipts 1908—
2 1$
$
$
$
$
$
%
$
Customs ....... ............... 23,272 22,476 1q, 155 20.562 19,415 22,832 20.605 150,317
,544 18.58.- 18,167 23,776 21,829 140,142
Internal revenue......... 19,745 18.49C
Miscellaneous............
6.418 7,353 3,918 4,772 5,116 6,881 9,735 44,193
Total receipts......... 49,435 48,325 44.617 43,919 42,698 53.489
Receipts 1907—
Customs ...................... 29,186 27,554 28.467 27,551 27,353 28,312
Internal revenue......... 20,076 20,505 22,557 21,234 22,804 24,513
Miscellaneous.............. 5,975 5,867 3,198 4,476 7,331 9,886
28,836 197,259
22,840 154,529
4,230 40.963
Total receipts_____ 55,237 53.926 54,222
Disbursements 1908—
Civil and mlsccl______ 15,426 11,563 10,810
W a r _________________ 8,832 9,692 10 ,112
N a v y ............................. 9.031 10,286 9,901
Indians_____________
510 1,203 1,436
Pensions ...................... 12,385 15,757 13,267
9.343 6,551 7.503
Public Works........... ..
172
Interest .................... ..
1,679
20,603 96,794
18,072 72,809
9,040 69,739
8,554
1,793
13,885 92,363
9.771 55,515
3,269 14,042
52,169 334,652
53,261 57,488 62,711 55,906 392,751
15,688
9,070
11,557
984
11,492
7,398
3,700
10,583 12 ,12 1
9.482 7,609
9,164 10,154
1,257 1,371
14.089 11,488
8,319 6,630
1,763
168
Total disbursed____ 58,818 56,730 53,201 59,889 54,657
Disbursements 1907—
Civil and mlsccl........... 11,307 10,083 8,851 10,870 9,915
W a r .............................. 7,910 7,596 7,618 8,050 7,173
Navy ............................ 8,715 6,502 7,984 8.177 8,924
Ind ian s.........................
696 1,009 1,043 1,209 1,136
Pensions ...................... 10,464 13,460 11,020 10,285 12,920
Public Works................ 7,336 5,979 6,728 7,203 7,605
358 2,277 1,240
Interest......................... 1,399 1.091
49,541 77.039 409,876
8,064 14,898 73,988
6,550 14,218 59,115
8.807 9.273 58,401
879 1,513
7,485
10,686 12,133 80,868
5.715 ! 1 . 122 51,688
217 3,656 10,238
Total disbursed____ 27,827 45,720 43,602 48,071 48,913 40,817 66,813 341,783
Nat. Bank Red. Fund—
Receipts 1908 .............. 8,579 13,992 8,808 9,338 6,083 6,384 5,730 58,914
Receipts 1907 .............. 1.731 3,292 5,250 1,952 1.819 2,325 2,503 18,878
Disbursed 1908 _____
Dlsbureod 1907 . .
3.144
2.929
3,560
2.721
4,283
2.215
4,729
2.535
5,366
2,528
5,804 20,795
2,420 2.734
47,681
18,102
Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
B y Messrs. Adrian H . Muller & Son:
Stocks.
300 R oyal Baking Powder Co.
p referred_______________ 1 0 0 ?^
4 Lincoln National B ank. .4 7 5
30 Am er. Seating C o., com . 25
416.65 Gulf & Chic. R R . C o. 25
455.65 Mob. Jack. & K C.R R. 10
50 Garfield National B a n k ..2 9 0
1 Continental Insur. C o. .1150
500 United Copper C o., com . 12 X
2,500 D avis-D aly's Estate Cop
per C o............... .......$ 3K per sh
100 Ann Arbor R R . pref____ 37
5 Guardian Trust C o_______ 154
30
10
30
47
58
20
51
1,300
100
Stocks.
N at. City Bk. of B k ly n ..2 9 5
Lafayette Tr. Co. ofB kl’n l2 5
Carnegie Trust C o ..
.1 6 7
Franklin Trust Co
200
Franklin Tr. C o., Farm
ers’ L. & Tr. Co. certs 200
Empire Title Guar. Co $94 lot
Ludowlcl-Celadon C o .$260 lot
North Butte E x t. Copper
Mining C o ---------- 50c. per sh
Rapid Safety Filter Co.
of New Y o rk -------$1 95 per sh
D IV ID E N D S .
The following shows all the dividends announced for the
future by all large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Railroads (Steam).
Baltimore & Ohio, common_____________
Preferred .................... .....................
Buffalo Roch. & Pittsb., com____
Preferred..................... ................................
Buffalo & Susquehanna, pf. (qu.) (No. 25)
Canal tan Pacific, common..........................
Common (extra)...........................................
Preterred.......................................................
Chestnut HU1 (quar.)............................... ......
Per
Cent.
3
2
2
3
1
X
2
IX
3
When
Payable.
Sept.
Sept.
Aug.
Aug.
Sept.
Sept.
Sep .
Oct.
Sept.
Books Closed.
Days Inclusive.
1 Holders of rec. Aug.
1 Holders of rec. Aug.
15 Holders of rec. Aug.
15 Holders of rec. Aug.
1
August 16.
30 Sept. 2
to
Oct.
30 Sept. 2
to
Oct.
1 Snet. 2 to Oct.
4 Holders of rec. Aug.
• ' Railroads tSteam)— Continued
Chicago & Alton, com m on --.--------Prior lien and participating stockChic. St. P., Mlnn.& Om „ com.& pref..
Cleve., & Pittsb. orlg. guar, (quar.)____
Special guar, (quar.)-------------
3X
IX
IX
2X
2
3X
2X
3
ix
Aug.
Aug.
Oct.
Aug.
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Sept.
Aug.
Sept.
Aug.
Oct.
Oct.
Oct.
Sept.
Aug.
Books Closed.
Days Inclusive.
to
15<Aug. 6
to
15i Aug. 6
20i Holders ot rec.
20i Holders of rec.
1 Aug. 16 to
1 Holders of rec.
1 Holders of rec.
1 Holders of rec.
2u
1 Aug. 4 to
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
16
16
19
1
28
10
10
21,
IX
2X
2X
IX
X
IX
IX
IX
IX
IX
IX
IX
2X
7X
IX
X
X
IX
2X
2X
IX
IX
IX
IX
2X
2
2
IX
IX
IX
IX
IX
IX
IX
lXft
IX
IX
IX
IX
IX
IX
IX
IX
IX 1
X
IX
!
ix ■
IX •
:
(
X S
IX !■
:
Imports and Exports for the W eek.— The following are
the imports at New York for the week ending August8 ; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW
YORK.
1006.
1905.
Dry Goods.................................
General Merchandise.............
$2,545,146
9,611,311
$4,191,973
11,781,015
$3,190,240
8,986,335
$2,377,915
7,522,068
T o ta l......... ...................
Since Jan. 1.
Dry G o o d s...............................
General Merchandise........... ..
$12,158,457
$15,972,988
$12,176,575
$9,900,883
$73,735,946 $117,650,089
287,332.164 421,336,759
$98,721,528
366,938,992
$85,171,684
340,898,090
For week.
1908.
1907
Total 32 weeks.................... $361,068,110 $538,086,848 $465,660,520 $420,069,774
lo cl» oOdtCIIlGIll OI tile bA jh U to
^LAblUDiVU
OI
specie) from the port of New York to foreign ports for the
week ending August 8 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE W EE K.
5
5
7
7
7
20
1
1
3X
3X
ix
iix
When
Payable..
3
Delaware & Bound Brook. (quar. ) . .
2
Illinois Central ........... - .....................
Aug. 12
National R R. of Mexico, preferred
Aug. 18
1
18 Aug. 9 to
National Railways of Mexico, first pref..
1
to
Aug. 18
18 Aug. 9
Norfolk & Western, preferred____
2
18 Holders of rec. Aug. 4
North Pennsylvania (quar.).............
2
Aug. 19
25 Aug. 13 to
Phila. Germ. & Norristown (quar.)
3
4 Holders of rec. Aug. 20
Pitts. Cine. Chic. & St. Louis, common.
2
15 Holders of rec. Aug. 6
Reading Company, first preferred
2b
10 Holders of rec. Aug. 24
Rome Watertown & Ogdensb.. guar, (qu.)
15 Holders of rec. July 31
Southern Pacific (quar.) (No. 8)
1
Union Pacific, com (quar.)------1 Sept. 15 to Oct. 13
Preferred----------------------- - ..........
1 Sept. 15 to Oct. 13
Utica & Black River, guaranteed........... ..
30 Holders ot rec. Sept. 15
Vandalla......... - ..................... - .......................
15 Holders of rec. Aug. 6
Street & Electric Railways.
Boston Elevated R y...................... ..............
Aug. 15 Aug. 2 to
Aug. 16
Columbus (O.) R y., com. (quar.) (No. 21).
Sept.
1 Holders of rec. Aug. 15
Connecticut Ry. <fe Ltg., com. (quar.)..
Aug. 15 Aug. l
1
to
Aug. 16
Preferred (quar.)...................... .............. ..
1
Aug. 15 Aug. 1
to
Aug. 16
1
Grand Rapids R y., common (quar.)--------Sept.
1 Holders of rec. Aug. 15
Havana Elec, lty., pref (quar.) (No. 10)
Aug. 15 July 19
to
Aug. 15
Northern Texas Elec. Co., pref. (No. 6) . .
3
Sept.
1 Holders of rec. Aug. 17
Philadelphia Co., pref----------------------------Sept.
1 Holders of rec. Aug. 10
Susquehanna R y., Light * Power, pref..
Sept.
1 Aug. 16 to Aug. 31
Aug. 15 Holders of rec. July 29
Twin City Itap.Tran., Minn., com. (qu.)
3
1 Holders of rec. Aug. 17
Whatcom Co. Ry. & Lt., pf. (No. 10)...........
Sept.
Miscellaneous.
Aug. 31 Holders of rec. July 23
Amalgamated Copper (quar.)------American Chicle, com., (monthly).
1
Aug. 20 Aug. 16 to Aug. 20
5
1 Aug. 22 to Sept. 1
Sept.
American Coal................................... 3
American Express (quar.)-------------Oct.
1 Holders of rec. Aug 31a
Aug. 15 Holders of rec. Aug. 5
Amer. Graphophone, pref. (quar.) (No.53)
American Locomotive, common (quar.).
Aug. 26 Aug. 6
to
Aug. 26
American Radiator, common......................
1
Sept. 30 Sept. 24
to
Sept. 30
Aug. 15 Aug. 9 to
Preferred (quar.).......................... ............
Aug. 15
Amer. Smelters Securities, pref. A (quar.)
Sept.
1 Aug. 22 to Sept. 1
Preferred B (quar.) (No. 13)..................
Sept.
1 Aug. 22 to Sept. 1
Amer. Sugar R/g., com. & pref. (quar. ) . . .
Oct.
2 Sept. 3 to Oct. 2
Amer. Teleg. & Cable, guar, (quar.)--------Sept.
1 Aug. 16 to Sept. 1
American Tobacco, common (quar.)_____
Sept.
1 Holders of rec. Aug. 15
Extra..................................... - - - .................
Sept.
1 Holders of rec. Aug. 15
Bond & Mortgage Guarantee (quar.)-----3
Aug. 15 Aug. 9 to
..............
Bordens Condensed Milk, common..............
4
to
Aug. 16
Aug. 15 Aug. 6
Preferred (quarterly)...................................
Sept. 15
Sept. 15 Sept. 6 to
Brill (J. G.), common (auar.)........... ..........
Sept. 15 Sept. 12 to Sept. 14
Butterlek Company (quar.)........... ............
Sept.
1 Holders of rec. Aug. 17
Cambria Steel.................. .......... ...................
Aug. 15 Holders of rec. July 31
Consolidated Gas of New York (quar.). . .
1
Sept. 10 Holders of rec. Aug. 19
Eastman Kodak, common (quar.)...........
Oct.
1 Holders of rec. Aug. 31
Common (extra)----------------------Oct.
1 Holders of rec. Aug. 31
Preferred (quarterly)........... ........
Oct.
1 Holders of rec. Aug. 31
Fay (J. A .) & Egan, com.
pf. (quar.)..
Aug. 20 Aug. 12 to
Aug. 20
General Asphalt, preferred......................
1
1 Aug. 23 to Sept. 1
Sept.
Independent Brewing, pref. (quar.).. . .
Aug. 25 Aug. 16 to
Aug. 24
Internat. Harvester, pref. (quar.) (No. 6)
Sept. 1 Aug. 20 to
Sept. I
Jefferson & Clearf. Coal & Iron, pref..
Aug. 15 Holders of rec. Aug. 5
Klngs County Elec. Light & Power (quar.)
Sept.
1 Aug. 22 to Aug. 31
Mahoning Investm en t...................
Sept.
1 Holders of rec. Aug. 20
Michigan State Telep., com.(qu.)(No.3).
1
Sept.
1 Aug. 21 to Sept. 21
Preferred (quar.) (No. 19)........... ........
Nov.
2 Oct. 21 to Nov. 3
Montreal Lt.. Heat & Pow. (qu.) (No. 29)
Aug. 15 Holders of rec. July 31
National Biscuit, com. (quar.) (No. 4 0 ) ..
Oct. 15 Holders of rec. Sept. 28
Preferred (quar.) (No. 42)_______
Aug. 31 Holders of rec.Aug.17a
National Carbon, preferred (quar.)____
Aug. 15 Aug. 6 to
Aug. 16
Nat. Enam. & Stpg., pref. (qu.) (No. 39) .
(Sept. 30 Sept. 11 to Sept. 30
National Lead. pref. (quar.) (No. 67)____
Sept.. 15 Aug. 22 to
Aug. 25
New England Cotton Yarn. com. (auar.).
1 Sept. 19 to Sept. 30
Oct.
New England Teleph. & Teleg. (q u a r.)...
Aug
15 Aug. 1
to
Aug. 14
Nlles-Bement-Pond, common (q u a r.)...
Sept. 19 Sept. 13 to
Sept. 20
Preferred (quar.)_________ ___________
Aug. 16
Aug. 15 Aug. 9 to
People’s Gas Light <fc Coke (quar.)...........
Aug. 25 Holders of rec. Aug. 1
Pittsburgh Brewing, common (quar.).........
Aug. 19
Allg. 20 Aug. 11 to
Preferred (quarterly)......... .........................
to
Aug. 19
Aug. 20 Aug. 11
to
Aug. 16
Pratt & Whitney, preferred (quar.)
Aug. 15 Aug. 9
to
Aug. 25
Pressed Steel Car. pref. (quar.) (No. 3 8 ) ..
AUg. 26 Aug. 6
Procter & Gamble, common (quar.).........
AUg. 15 Holders of rec. July31a
3
Pullman Company (quar.) (No. 166)____
AUg. 15 Holders of rec. July 31
2
Quaker Oats, common (quar.)........................
Oct. 15 Holders of rec. Oct. 5
Common (extra).........................................
Oct. 15 Holders of rec. Oct. 5
Preferred (quarterly)...................................
AUg. 31 Holders of rec. Aug. 20
Aug. 15
Silversmiths Co. (quar.) ....... ................... ..
Aug. 15 Aug. 13 to
1
1 Holders of rec. Aug.19a
Sloss-She)field Steel <fc Iron, com. (quar.).
3ept.
1
to
Aug. 16
Aug. 15 Aug. 2
United Bank Note Corn., com. (q u a r.)...
1
United Cigar Mfrs., pref. (quar.)________
1 Holders of rec. Aug. 31
Sept.
Sept.
U. S. Cast Iron Pipe & Fdy., pf. (quar.).
1 .Aug. 12 to Aug. 31
1 _______________________
United Slates Envelope, p r e f .....................
Sept.
3
United States Printing of Ohio (quar.).. 1 5-16 Oct.
1 Sept. 20 to Oct. 1
to
Sept. 30
U. S. Steel Corp., com.(qu.) (No. 1 9 )..
3ept. 30 iSept. 10
to
Aug. 31
Preferred (quar.) (No. 29)........... ........
Aug. 31 .Aug. 7
Utah Copper (No. 1)........................ ............ 50c.
Sept. 30 1Holders of rec. Sept. 20
Welsbach Company.......................................
1 1Holders of rec. Aug. 19
2
/Sent.
a Transfer books not closed, b Also declared 2% on 1st preferred, payable March
10 1909 to holders of record Feb. 20 1909: 2% on 2d preferred, payable Nov. 10 1908
to holders of record Oct. 23 1908, and 2% payable May 10 1909 to holders of record
April 22 1909. h Declared 6 % , payable In quarterly Installments. I Declared 7%
payable In quarterly Installments.
J. Ill/
la
la
Per
Cent.
Nam 0 Company.
For the week__ _____ _______
Previously reported................
1908.
1907.
1906.
1905,
$7,728,036
381,957,995
$13,369,135
370,804,631
$12,604,101
368,230,146
511,084,268
313,569,356
Total 32 weeks.................... $389,686,031 $384,173,766 $380,834,247 $324,653,624
A ug . I d 1908. J
TH E CHRONICLE
E X P O R T S A N D IM P O R T S OP
SP E C IE A T
NEW YORK.
Imports.
Exports.
dold.
Week.
$325
6,600
Total 1908________ _____ ________
Total 1 9 0 7 .................................... .
Total 1906................................... ..
Silver.
$2,524,737
23,640,879
19,017,343
1,320,100
4,000
010,606
9,735
Since Jan. 1
Week.
$35+021
2,110
30,042
17,036
$3,439,807
1,008,067
15,785
3,738,930
414,567
1,004,358
1,950,875
$6,825 $47,133,400
807,500 32,053,688
7,000
5,800,904
$406,809 $12,178,395
0.814.G31
53.892
105,131 49,338,744
$9G9,085 $22,9S0,S0S
2,819,000
41,900
256
250,953
3,000
350
$2,385
6,400
3,201
44,152
19,543
$49,007
52,065
90,879
136,211
1,028,985
541,629
340,9S3
$969,341 $26,090,011
1.537,541 27,822,642
552,935 33,293,925
$75,687
49,674
12.814
$2,240,359
1.407,394
1,463,283
All other countries...................... ........
Total 1908....... ............
Total 1907________ _____ _
Total 1906...............................
Since Jan A
Of the above imports for the week in 1908, $350,013 were
American gold coin and $G,02G American silver coin. Of
the exports during the same time, $6,825 were American
gold coin and $ ---------- were American silver coin.
Statement of New York City Clearing-House Banks.— The
detailed statement below shows the condition of the New
York City Clearing-House banks for the week ending Aug.
8. The figures for the separate banks are the averages of
the daily results. In the case of the totals, however, a de
parture was made with the statement for Feb. 8, so that in
addition to the averages for the week the actual figures at
the end of the week are now given.
We omit two ciphers (00) In all cases.
Hanks
00s omitted.
Capital.
Surplus.
$
5
3,226,3
2,000,0
Bank of N. Y . 2,050,0
3,293,5
Manhattan Co.
2,000,0
1,645,2
Merchants’ -----3,000,0
3,705,7
Mechanics’ -----1,500,0
4,887,7
Am erica--------504,4
1,000.0
Ph enlx.............
City _ -------------- 25,000,0 25,065,4
3,000,0
Chemical-------5,714,6
502,4
Merchants’ Ex.
600,0
Gallatin_______
1,000,0
2,429,0
Butch. A Drov.
300,0
143,1
Greenwich-----500,0
724,9
Amor. Exch__
5,000,0
5,017,2
Commerce......... 25,000,0 15,239,1
Mercantile___
3,000,0
2,437,9
Pacific...............
500,0
840,5
Chatham...........
450,0
1,013,1
People’s ...........
200,0
460,5
Hanover...........
3,000,0
9,684,2
citizen's Cent
2,550,0
1,298,6
N assau.............
500,0
365,9
Market A Fult’ n
1,000,0
1,577,4
Metropolitan . .
2,000,0
1,095,4
Corn Exchange.
5,183,1
3,000,0
Imp. A Traders
1,500,0
7,256,0
P a rk ..................
9,437,5
3,000,0
East R iv er___
250,0
104,6
.8,000,0
3,339,9
F o u rth .............
1,000.0
1,698,9
Second .............
F ir s t.................. 10,000.0 16,589,9
1,325,2
2,000,0
Irving Nat. Ex.
781,8
250,0
Bowery _______
1.079,0
500,0
N. Y. County .
750,0
632,3
German-Amcr .
5,105,0
5,000,0
Chase............. ....
2,117,5
Fifth Avenue. .
100,0
German Exch.
871,0
200,0
Germania.........
928,1
200,0
Lincoln_______
1,176,2
1,000.0
Garfield______
1,122,2
1,000,0
F ifth ________
250,0
445,0
Metropolis___
1,000,0
2,059,4
West Side.........
200,0
718,3
Seaboard...........
1,000,0
1,010.8
1,000,0
Liberty . . . .
2,466,3
1,000,0
N. Y. Prod. Ex.
657,2
1.000.0
State _________
771,7
1,000,0
14th Street___
328,7
2,000,0
2,382,3
C opper.............
Loans.
Average.
$
22,981,0
27,300,0
21,. 96,0
24,229,0
28,387,3
6,607,0
190,015,2
31,496,1
0,980,3
9,613,4
2,105,5
5,774,9
31,397,2
179,124,2
10,314,5
3,413,6
6,654,8
1,639,7
63,663,7
20,931,1
4,401,2
7,559,1
10,397,3
43,743,0
26,701,6
90,470,0
1,278,8
28,588,0
10,555,0
115,845,9
17,291,4
1,970,8
7,816,6
3,733,8
82,670,5
11,582,0
3,836,7
4.047,9
14,300,9
6,478,7
3,102,1
11,278,7
4,209,0
21,564,0
14,021,7
0,541,2
10,081,0
4,293,0
17,147,2
Specie
Le gals. Deposits. ReAverage. Average. Average. %'ve.
5
5,176,0
16,230,0
10,032,0
9,049,0
5,010,6
1,002,0
01,571,1
7,363,9
1,318,9
1,298,1
418,3
1,518,8
4,719,1
30,586,6
1,115,1
808,5
854,4
770,3
16,283,0
5,536,7
596,5
1,615,3
3,139,8
9,862,0
5,119,0
25,354,0
282,4
5,191,0
2,413,0
31,541,9
3,447,6
772,0
1,157,2
809,8
19,546,4
2,937,7
175,0
811,7
2,801,9
1,905,0
448,6
1,532,5
919,0
4,904,0
4,837,8
2,150,4
3,231,0
677,S
3,766,0
$
1,160,0
1,500,0
2,382,0
2,126,0
2,828,8
402,0
7,383,0
2,398,9
542,0
773,2
70,5
260,0
1,446,8
12,620,2
1,031,8
522,1
1,101,4
83,6
9,559,0
315,1
607,7
1,448,0
117,4
3,245,0
1,336,0
2,198,0
141,7
2,795,0
itfs.o
1,835,2
1,230,8
67,0
578,5
213,8
4,053,7
1,098,1
770.0
517,4
1,143,9
301,1
350,1
1,553,3
259,
2,167,0
425,0
174,4
230,0
483,2
301,6
$
22,946,0
40,900,0
29,595,0
29,239,0
31,012,8
5,720,0
203,802,4
33,034,3
7,427,1
7,768,3
2,127,2
6,444,3
24,976,8
167,614,7
6,683,8
3,601,0
7,146,5
2,343,3
80,830,8
21,129,2
4,702,5
8,567,0
10,889,3
51,338,0
24,948,0
105,210.0
1,464,5
26,057,0
11,353,0
117,061,1
18,025,8
3,250,0
7,724,2
3,602,1
93,700,1
13,440,3
3,924,0
5,332,7
15,474,8
7,008,2
3,246,6
11.518,0
4,667,0
26,181,0
14,756,6
7,957.0
12,536,0
4,479,6
15,752,0
%
27.7
43.3
42.2
38.6
25.3
26.8
34.2
29.5
25.5
27.0
23.2
27.6
25.0
25.9
32.7
36.9
27.6
36.4
32.3
28.4
25.6
35.9
29.9
21*..>
26.0
26.2
29.0
30.8
24.8
28.7
26.1
25.8
23.2
28.4
25.3
30.0
24.0
24.9
25.7
32.8
25.0
26.7
25.2
27.1
35.9
29.2
27.6
25.9
26.0
Totals, Average 126,350,0 161.127.1 1275,021,6 322,791,7 78,561,7 1368,510,5 29.5
Actual figures
Aug. 8
1281,734,5 322.109.9 78,723,1 1374,777,4 20.3
On the basis of averages, circulation amounted to $56,003,400 and United States
deposits (Included In deposits) to $9,235,000: actual figures August 8, circulation,
$55,*78,100. United States deposits, $9,226,000.
The statements compiled by the State Banking Depart
ment, together with the totals for the Clearing-House banks,
both the averages for the week and the actual figures at the
end of the week, are shown in the following table. In the
figures for State banks and trust companies all of these insti
tutions in Greater New York are included.
NEW YORK CITY HANKS AND TRUST COMPANIES.
Week ending August 8 1908.
Loans ani
Reserve on P .(?
Deposits.
OOj omitted. Investments.
LequlS.
Deposits. 0 / ReSpecie.
5
serve.
Clearing House.
$
S
$
S
Banks’— Actual 1,281,734,5 322.109.9 78,723,1 1,374,777,4 400,833,0 29.35
+8,628,1
+ 10,114,5
+ 309,4
+ 2,094,4
+ 2,403,8
Clearing-House
Banks— Av’gc. 1,275.021,0 322,791.7 78,561,7 1,368,516,5 401,353.4 29.52
+ 3,115,2
+2,390,7
+ 1,478,3
— 558,8
+ 919,5
State Banks—
321,2.83,7
50,692,7 22,172,4
Average______ 268,088,8
99,113,7 31.4
— 997,6
+ 102,1 — 2,136,3
+ 1,738,1
— 499,6
Trust Companies—
79,092,5
917,986,.-) 308,140,4 37.3
Average______ 829,836,1
6,914,7
+ 695,5
+9,662,3
+3,002,8
— 122,2
+ 4,818,5
State Banks and
Trust Co's— not
83,847,2 14.529,5 1.015,842,3 337,064,6 36.6
In Clear.-House 911,307,6
+ 685,6
— 135,4
+ 3,830,8
+ 10,462,9 + 4,039,8
+ Increase over ast week. — Decrease from last week.
a Includes hank notes, b After eliminating the Item “ Due from reserve deposi
tories and other hanks and trust eomnanles In New York Cltv,” deposits amount to
$811,185,100, an Increase of $6,758,200 over last week’s figures.
395
Note.— In the case of the Clearing-House banks, the deposits are “ net” both for
the average and actual llgures; In all other cases “ gross” deposits are shown. The
Clearing-House actual llgures Included United States deposits amounting to $9,
226,600, a decrease of $1,400 from last week; averages Included United States
deposits of $9,235,600, a decrease of $5,900 from last week.
“ Reserve on deposits" Includes, for both trust companies and State banks, not
only cash Items hut amounts due from reserve agents, and In the case of trust com
panies Includes likewise municipal bonds. State banks InNew York City City are re
quired by law to carry a reserve amounting to 15% of deposits, while outside of
Now York City only 10% Is required, which reserve In both cases need not be more
than one-half In cash. Trust companies In Greater New York are required to keep
a reserve of 15% , of which only 5% need be In cash and 5% more may be In munici
pal bonds, while In the case of the trust companies In the rest of the State the re
quired reserve Is 10% , of which only 3% need bo In cash and 3 % more may be.in
municipal bonds.
The State Banking Department also furnishes the follow
ing report for State banks and trust companies outside of
Greater New York.
.
STATE BANKS A TRUST CO’S OUTSIDE OF GREATER NEW YO R K .
Week ending August 8 1908.
% 0/
Loans.
Deposits.
Reserve.
Res.
._ ......... ...$77,095,500
State Banks_______
$82,660,000 $1.8,773,200 23.4
— 73,200 + 1 ,0 7 5 ,S00 + 1,079,400
............. ..119,324,400
128,805,000
23,055,300 18.2
Trust Companies__
+ 694,300
+487,500
+ 732,700
+ Increase over last week.
— Decrease from last week.
Reports of Non-Member Banks —The following is the
statement of condition of the non -member banks for the
week ending. Aug. 8, based on average daily results:
B'c omit two ciphers (00) In all cases.
Banks.
Capi
tal.
Sur
plus.
N. Y. City.
Boroughs o)
Man .WBrx.
8
Wash. 11’ts.
100,0
Century __
200,0
( olonlal . .
100,0
Columbia . .
300,0
Fidelity.. . .
200.0
Itffers j n ...
500,0
Ml. Morris
250.0
Mutual . . .
200,0
loth Ward.
300,0
Plaza . . . . .
100,0
23d Ward. .
100,0
Union Exch
750,0
Yorkville . .
100,0
Coal AI .Nat
500,0
NewNcthl'd
200,0
Bat.Pk.Nat.
200,0
Borough o/
Brooklgn.
Broadway .
150,0
252,0
Mfrs’ N a t..
Mechanics’ . 1,000,0
Nassau Nat.
750,0
300,0
Nat. C ity..
100,0
North Side.
Jersey City
400,0
First Nat . .
250,0
Hud.Co.Nat
Third N a t..
200,0
Hoboken.
First Nat. .
220,0
125,0
Second Nat.
Loans,
Disc’is
and
Invest
ments.
Specie.
Legal
Tender
and
Bank
Notes.
Deposit with
Clcarin
Agent.
Other
Net
Banks, Deposits.
cfee.
S
201.1
146,8
501,0
466,2
168,4
6S0.7
250.1
317,3
409,7
409,2
1S3.9
824,8
369,9
701,7
229,1
138,9
$
935,5
1,516,4
3,822,3
5,133,0
835,1
3,201,4
2,123,2
3,215,2
4,568,6
3,238,0
1,523,6
5,9,84,5
3,205,1
4,267.0
1,435,0
918,2
$
12,4
14,4
490,3
494,0
72,5
38,7
295,4
27,1
57,5
219,0
159,2
791,9
53,0
807,0
119,0
150,7
S
51,3
159,0
245,7
439,0
21,4
300,5
28,4
442,9
561,5
282,0
59,9
350,0
727,9
197,0
38,0
55,0
$
160,3
108,3
408,2
382,0
188,4
200,5
434,6
747,9
176,8
603,0
278,0
470,2
409,2
574,0
349,0
53,0
402,3
752,4
810,0
921,7
564,7
205,6
2.55S.1
5,789,1
9,595,1
7,051,0
3,808,0
1,440,0
14,8
536,6
694,8
149,9
181,7 1,659,6
315,0
620,0
133,0
556,0
136,2
10G.9
541,1
1,035,1
1,470,8
1,654,0
633,0
481,1
1,212,3
719,3
364,6
3,841,2
2,385,8
1,630,8
191,6
140,2
56,3
359,8
31,3
105,7
2,169,2 1,029,0
353,6
428,2
70,1
592,6
608,3
207,5
2,343,3
1,828,7
145,9
66,5
23,0
59,7
160,2
96,5
$
890»0
1,705,7
4,866,9
6,257,0
778,6
2,913,7
2,770,9
3,981,7
5,157,4
3*838,0
1,855,5
6,355,6
4,293,0
4,763,0
1,487,0
802,1
$
_____
277,6
415,0
300,0
193,2
58,1
5,0
259,9
'300,0
____
150,0
15,0
200,4 3,540,0
67,0 6,640,0
123,7 12,853,6
7,811,0
394,0 5,270,0
109,7 2,119,3
5,768,2
2,527,3
2,188.7
244,6
130,9
2,187,5
2,104,3
Tot. Aug. 8 7,847,0 12,827.5 88,193,2 5,878,1 8,174,0 14,736,6 4,840.4 105792,0
Tot. Aug. 1 7,847,0 12,827.5 87.SS0.4 6,103,9 8,239,4 13,767,9 4,4S5,0 104859,9
Tot. July 25 7,847,0 12,827.5 87,600,9 6,255,7 8,851,0 14,109,5 4,520,9 106537,8
New York City, Boston and Philadelphia Banks.— Below
is a summary of the weekly totals of the Clearing-House
banks of New York City, Boston and Philadelphia. The
New York figures do not include results for non-member
banks.
W e omit two ciphers In all these llgures.
Banks.
New York
July 1! ..
July IS ..
July 2 5 ..
Aug. 1 ..
Aug. 8 . Boston.
July 18 ..
July 25..
Aug. 1
Aug. 8 . .
PhJIa
July 1 8 ..
July 2 5 ..
Aug. 1
Aug. 8 . .
Capital
and
Surplus.
Loans
Specie.
Legals
$
291,519.1
291,519,1
287.477,1
287.477.1
287,477,1
$
1255.712,8
1264,688,3
1270,921,4
1273.230.9
1275,621,6
$
301,491,9
310.163,6
316,610,9
321,313,4
322,791,7
$
77.636,4
79,068,1
79,652,4
79,120,5
78,561,7
$
1328,300,2
1346,013,2
1358,988,2
1365,401,3
1368,516,5
$
50,189.5
56,020.1
56,OSS,3
56.149,9
56,003,4
$
1,482,284,1
1,481.047.0
1,543,712.7
1,342,439,4
1,559,513,0
44.036,0
44.036,0
44,036,0
44,036,0
192.61.3,0 25,432,0
194,009,0 26,037,0
197,797,0 25,942,0
200,655,0 25,433,0
3,552,0
3,381,0
3,311,0
3,092,0
244.592,0
241,751.0
241,534,0
242,690,0
10,606.0
10.549,0
10,577,0
10,570,0
159.849,8
134,068,2
049.037.0
138,228,1
54,440,0
54.440.0
54,440,0
54,440,0
235.228.0
234,350,0
234,776,0
235,048,0
277,380,0
276,650,0
278,597,0
278,361,0
16,192,0
16.176,0
16,146,0
16,131,0
117,769,6
106,057,5
102,097,4
110,673,5
71.963,0
73,468,0
75,093,0
75,934,0
Deposits a Circu
lation
Clearings
n Including Government deposits, and for Boston and Philadelphia, the Item
"due to other banks.” At New York Government deposits amounted t o $9,235,600 on August 8, against $9,241,500 on August 1; at Boston to SI,605,000
on August 8 and $1,606,000 on August 1.
gituliitig aucl ^financial.
NVc shall be pleased to furnish to 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,
WILLIAM AND PINE STS..
NEW YORK
Branch offices; Chicago. III., and Albany, N. Y
M
o
f f a t
&
W
h i t e
Members New York Stock Exchange.
5 NASSAU S T R E E T .
H A N O V E R B A N K B U I I DING.
DEALERS IN INVESTMENT SECURITIES.
Commission Orders Executed for Cash Only
[VOL. LXXXVII.
T H E CHRONICLE
396
|Jarthm ’ ©axielte.
Wall Street, Friday Night, August 14 1908.
The Money Market and Financial Situation.— It is the
“ expected” that has happened this week in Wall Street.
A reaction from the violent advance noted last week was
logical, and has been in progress, in rather a mild way, for
several days past. If any surprise attaches to this reaction,
it m ay be found in the fact that it has been so moderate.
That there is to be an improvement in general business
conditions within a reasonable time there is good ground
for believing, but no substantial evidence exists that such
improvement, if begun, has sufficiently progressed to
warrant a boom in security values, and hence the current
reaction.
Reports from the agricultural districts indicate an ex
cellent condition of the maturing crops. August is a
critical period, as is well known, especially in the cotton
belt, and as the month is now practically half gone, and
reports continue favorable, the probabilities of a large
cotton crop are increasing.
The foreign bank reports make a good showing. The
Bank of England's percentage of reserve is over 50, and
the Bank of France has again increased its gold holdings.
The New York Clearing House banks report a surplus
reserve of $01,533,000, which is a slight increase, and the
largest at this period in recent years.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 % to 1% % . To-day’s rates on call were 1 @ 1 % % .
Commercial paper quoted at 3 @ 3 % % for choice endorsements
and best four months single names and other paper 4 @
4% % .
The Bank of England weekly statement on Thursday
allowed an increase in bullion of £493,407 and the percentage
of reserve to liabilities was 50.22, against 48.00 last week.
The rate of discount remains unchanged at 2 % % as fixed
May 28. The Bank of France shows an increase of 8,925,000
francs gold and a decrease of 575,000 francs in silver.
NEW YO R K CITY CLEARING-HOUSE BANKS.
1908.
A v e r a g e s to r
w eek e n d in g
A u g . 8.
Capital......... _.......... ..
Surplus ....... ...................
Loans and discounts___
Circulation ..................
Net deposits....................
U. S. dep. (incl. above)
Specie . ..................—
Legal tenders..................
S
126,350,000
161,127,100
1,275,621,600
56,003,400
1,368,516,500
9,235,600
322,791,700
78,501.700
D ll/e r e n c e s
)rom
p r e v io u s w e e k .
$
Inc.
Dec.
Inc.
Dec.
Inc.
Dec.
2,390,700
146,500
3,115,200
5,900
1,478,300
558,800
1907.
1906.
A v e r a g e s lo r
w e e k e n d in g
A u g . 10.
A v e r a g e s lo r
w e e k e n d in g
A u g . 11.
$
S
129,400,000
118,072,700
161,407,400
150,932,900
1,110,453,300 1.072.468.300
50,155,100
46,054,500
1.076,904,600 1.062.901.300
27,795,800
9,016,100
206.346.700
188,939,000
"0,640,000
85,058,600
Reserve held____’_____
25% ot deposits.............
401,353,400 Inc.
342,129,125 Inc.
919.500
778,800
276.986.700
269,226,150
273,997,600
265,720,075
Surplus reserve. . . . .
Surplus excluding U. S.
deposits......................
59,224,275 Inc.
140,700
7.760,550
8,271,525
61,533,175 Inc.
139,225
14,709,500
10,525,550
Note.— The Clearing House now Issues a statement weekly showing the total
of the actual figures on Saturday morning. These llgures, together with the returns
of separate banks, also the summary Issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the preceding page.
State and Railroad Bonds.— Sales of State bonds at the
Board are limited to $10,000 Virginia Os deferred trust
receipts at 3 7 % .
The market for railway and industrial bonds is narrower
and daily operations in this department as well as in stocks
are on a considerably smaller scale than last week.
Interboro-Metropolitan 4 % s have been exceptionally
active and covered a range of nearly 2 points. The Rock
Island issues have been weak in sympathy with the shares,
the col. tr. 5s closing 4 {>oints down. St. Louis k San
Francisco ref. 4s have lost 3 points. On the other hand
Third Ave. con. 4s have advanced over 3 points and New
York New Haven & Hartford conv. deb. Os and A m . Tele
phone & Tel. col. tr. 4s are from 1 to 2 points higher.
United States Bonds.— Sales of Government bonds at the
Board include $1,500 2s rcg., 1930, at 1 0 3 % , $4,500 3s
coup., 1908-18, at 100% and $5,000 4s reg., 1925, at 121 % .
The following are the daily closing quotations; for yearly
range see third page following.
Interest
Periods
2s,
2s,
3s,
33,
3s.
4s,
4s.
2s,
1930 . . . ______ registered
1930____ ................coupon
1908-18. ......... registered
1908-18. ................coupon
1908-18- ..sm all coupon
1925 . . . ______ registered
1925____ ............... coupon
1936.Panama Canal coup
Aug.
S
Q— Jan
Q— Jan
Q— Feb
Q— Feb
Q— Feb
()— Feb
Q— Feb
Q— Nov
Aug.
10
Aug.
11
Aug.
12
* 103 5-g *103*4 *1034 1034
*103?4 * 103 K * 10:14 * 1 034
* 10 0 4 + 1004 * 10 0 4 * 10 0 4
* 10 0 4 *1 0 0 4 10 0 4 10 0 4
*100)4 * 10 0 4 * 10 0 4 * 10 0 4
* 1 2 0 4 * 12 0 4 * 1 2 1 4 *1204
*12 IK * 12 0 4 * 12 0 4 * 12 0 4
*101K * 1 0 1 4 *102
Aug.
13
Aug.
14
*1034 *1 0 3 4
*1 0 3 4 * 1 0 3 4
* 10 0 4 *1 0 0 4
* 10 0 4 * 1 0 0 4
*1004 *1 0 0 4
* 12 0 4 *1 2 0 4
* 1 2 0 4 *1214
*102
*102
* This Is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.— The stock market
has been less active until to-day, and decidedly irregular
throughout the week. After a reactionary tendency of
more or less importance, which began on Saturday and con
tinued during a part of Monday, the upward movement
which was in full swing at the close last week was resumed
and of a list of 20 prominent railway issues 11 made a new
high record and two others duplicated a previous one.
Such a pace could not be kept up of course. The im
pending reaction has gained momentum to-day and closing
prices are an average of about 4 points below the highest.
Among the railway issues that were conspicuous in the
advance are St. Paul, Northern Pacific, Reading, Baltimore
k Ohio, Delaware & Hudson, Southern Pacific, Union Pa
cific and Interboro-Met., all of which made a new high record.
The copper stocks have been notably weak,following the
advance noted in our last issue. Smelting is down 9 % ,
Amalgamated 7 and Anaconda 5 points. U. S. Steel sold up
to 48, closing at 45.
For daily volume of business see page 400.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Aug. 14.
Sales
lor
Week.
Amer Steel Foundries.. .
200
Trust Co cert Is.............
400
Chic Term TransI, plef .
10,
Colorado Fuel A I, pret
320
( oinstock runnel______ 1,00
Cripple Creek Cent, pf_.
100
Des Moines & Ft Dodge.
300
General Chemical, pref..
100
Ill Cent subscrlp’n rets..
450
Kanawha & Michigan..
IK
Trust receipts.............
lOO
Nat of Mex pf tr rets___
130
200
St Jos & Grand laid___
St L * S F— C & E III
new stk trust ctfs____
5
Range lor Week.
84
8
12
60
23C.
05
1 34
924
1374
37
37
47
15
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Range since Jan. 1.
Highest.
Lowest.
14
8
Li
10
1.
10
8
12
13
13
11
12
11
9
9
12
60
23c.
05
14
924
1384
37
37
47
n>
Aug
Aug
AUg
Allg
Aug
Aug
Allg
Aug
Aug
Aug
Aug
Aug
Aug
11
11
14
10
11
10
10
12
13
13
11
12
11
Lowest.
Highest.
Feb
Feb
Mch
35
May
20c. Mch
53
Aug
5
Mch
89
May
1284 July
37
Aug
29
Jan
Aug
47
13
May
9
Aug
9
Aug
15
May
GO
Aug
44c. Apr
65
Aug
14
Aug
9 9 4 Juno
139
Aug
Aug
37
42
May
5 1 4 Juno
184 Mch
44
44
Foreign Exchange.— The market was dull early in the
week, growing more active and stronger on Wednesday,
and so continuing to near the close, when it was steady.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 8G for sixty day and 4 8 7 % *or sight. To-day’s
Allg 11 50
Aug 11 60
60
Apr 60
Aug
(Friday’s) actual rates for sterling exchange were 4 8 5 @
4 8510 for long, 4 8 6 4 5 @ 4 8050 for short and 4 8GG5@
Outside Market.— The improvement in outside secruities,
4 8075 for cables. Commercial on banks 4 8 4 % @ 4 8 4 %
especially the boom in copper shares, which has been in pro
and documents for payment 4 8 4 @ 4 8 4 % . Cotton for
gress the past two weeks, received a check this week, as in
payment 4 8 4 @ 4 8 4 % ; cotton for acceptance 4 84 % @
dicated by a weaker turn to prices and a falling off in the
4 8 4 % , and grain for payment 4 8 4 % @ 4 8 4 % .
volume of business. The advertising campaign of Thomas
To-day’s (Friday’s) actual rates for “Paris bankers’ francs
W . Lawson, in which lie outlines the plans, & c., of the “ Na
were 5 1 7 % a @ 5 1 7 % for long and 5 1 0 % d @ 5 1 0 % for
tional Stock,” otherwise known as Bay State Gas, lias been
short. Germany bankers marks were 9 5 @ 9 5 1-10 for
productive of exciting conditions in “ curb” trading, and re
long and 9 5 % @ 9 5 7-lGd for short. Amsterdam bankers’
sulted in enormous sales of that stock. From 2 5-10, the
guilders were 40 2 7 @ 4 0 29 for short.
price advanced to 3 % , but reacted and sold down to 2 % ,
Exchange at Paris on London to-day 25f. 15c.; week’s
closing to-day at 2 13-10. United Copper common from
range 25f. 15c. high and 25f. 14c. low.
9 % touched 1 5 % , but ran down to 1 0 % , recovering finally
The week’s range for exchange rates follows :
to 11. The preferred sold up from 30 to 30 and back to 34.
--------------Long------------------------------ Short------------- - ----------- -Cables------------Boston Consolidated Copper from 1 4 % advanced to 1 4 % ,
Sterling, Actual—
@ 4 8660
I 8655
14 8670
High..........4 8505
@ 4 8510
© 4 8675
but reacted to 1 2 % . Butte Coalition lost about 2 points to
© 4 8650
4 8640
4 8660
L o w -------- 4 8485
© 4 8595
© 4 8665
27, advanced to 2 8 % and to-day fell back to 27. Cumber
Parts Hankers’ Francs —
@ 5 1646/1
High.......... 5 1 74a
© 5 1744
1646
land Ely advanced from 9 % to 1 0 % but sank back to 8 % .
© 5 1046
L o w .......... 5 18 H
© 5 1846
5 164«d
Davis Daly Estates improved from 2 % to 3 % but subse
Germany Bankers' Marks—
© 95 7-16
High........... 95 1-16 © 9546
quently eased off to 2 % .
Greene Cananea went from 1 2 %
9546
L o w ........... 94 %
© 94J6
© 9546
9546
to 1 2 % and down to 1 1 % , the final quotation to-day being
Amsterdam Bankers' Guilders—
High...........
.................................
© 40 29
1 1 % . Nevada Consolidated Copper rose from 1 5 % to 1 7 % ,
40 27
Low - .................... ...... .................__
© 40 28
40 26
dropped to 14 and closed to-day at 1 4 % .
Yukon Gold
moved up from 5 7-10 to 0 and sank back to 4 % .
Nipissing
Less: a 1-10 of 1% . d 1-32 of 1% . 7 i3 -3 2 o fl% .
Plus: k 1-16 of 1% . x 1-32 of 1% . y 3-32 of 1% .
advanced from 7 % to 9 and weakened finally to 8 % . Stan
The following were the rates for domestic exchange on dard Oil gained 3 points to 048, fell to 0 3 5 % and recovered
New York at the undermentioned cties to-day : Savannah to 045. Guggenheim Exploration declined from 181 to 175.
buying 50c. per $1,000 discount; selling 75c. per 81,000 Central Foundry preferred sold up from 13 to 15. Chicago
premium. Charleston selling $1 per $1,000 premium. Subway advanced from 22 to 2 4 % but fell back to 22. AllisNew Orleans bank 75c. per $1,000 discount; commercial Chalmers 5s sold up from 7 2 % to 7 7 % . Consolidated S. S.
$1 per $1,000 discount. Chicago 10c. per $1,000 premium. 4s receipts opened the week at 13, dropped to 1 0 % and re
Bt. Louis par per $1,000 premium. San Francisco $1 20 covered finally to 1 1 % .
per $1,000 premium.
Outside quotations will be found on page 400.
N ew
Y o rk
S to ck
E x c h a n g e — S to ck
O C C U P Y IN G
STOCKS—HIOHESTAi\L>LOWESTSALETRICES
A u gu st 8 .
h
2
897
95
923;
9 5 7g
84
57% -
88 7g
S9%
94%
93%
94
83
55 34
88
94
92%
92%
*81
64%
Tu esday
A u gu st 1 1 .
M ondag
A u gu st 1 0 .
9434
881
94%
92
94%
S3
551
Thursday
A v g u st 1 3 .
W ednesday
A u g us 1 2 .
R eco rd ,
TW O
D a ily ,
STOCKS
Frid a y
A u gu st 1 4 .
W eek
Shares
W e e k ly
and
N E W Y O R K STOCK
EXCHANGE
R a n g e S in c e J a n . 1 1 9 0 8 .
o l \ 0 0 -th a r t ton
On ba sts
897*
94%
02
U o lo
83
57%
88%
95
92
94%
*81
5 4 7g
89%
95
93
953g
87
56
88
*94
92%
9 3 ?g
*81
52%
897s A u g 10
66 F e b 14
95 J ’lie 29
83% F e b l
96
J ’ly 2 i
5 9 1 2 Met) 2
957s A u g 10
76% F e b 10
87 J 'n t l
80 Jan 3
57% A u glO
37% F e b 11
t)4 >4 iVlcu 2 J
643.J M ch 21
140 F eb 1 , 174% J ’ly 31
U4<8 J ’ly Jl
54 M ch 4
160 F eb 11 198 AUg t
25% F e b 19
46-% May21
27 J ’n e l i
10 F e b 18
60 M ay c
47 M ch24
8% Jan 2
3% F e b t
G8% A u g 4
3 3 1 2 M ch 19
31 Jan t
1 5 1 2 F e b it
IDs A u g t
5 F e b 11
147% A u g l l
1 0 3 i2 J a n
:
138 Jan 2 16034 A u g 0
DSD J an 3 137% A u g 10
1 2 6 -% J an
2 152% A u g 7
135% Jan 2 163)2 A u g 7
5185 Jan 11 205 J ’nc25
114 F e b 26 140 A u g 7
14012 Jan 3 165 M a y L
Sg A p r 3
4 M a y li
1434 M ay 13
4 A p r It
62 Jan 16
4 7 1 2 J 'n e li
98
A u g 12
S5i8 F eb 19
34% A u g l )
21 F e b 19
63 A u g It
50-18 J an 2
6378 A u g 12
39% F e b li
174 A u g lc
14 11 2 F e b li
4 2 0 "J a n
t 540 M ay 8
277s A u g 4
1 4 14 F e b It
70 M ayli3 9 1 4 M ch 2
42 J ’ ne39
32% A p r 16
16% A p r 2 8
6 F eb 11
26 A p r 24
11% F eb 13
25% J ’ne28
12 M ch 6
44 Alayl9
24% M ch 4
31 J ’l y a l
16 M ch 6
11334 F e b l l 140 A u g 13
69 J 'ly 29
48% Jan 2
77*2 A p r <
71 M ch 19
16 A u glO
8 Jan 14
32 A u glO
Mch24
20
$70 Jan >■ 74 May 2o
90 M ay 14
62 F e b It.
85 M ay 14
M ch I9
69
122% F e b L 143*2 A u g 1
13D A u glO
6% J a n
4
38% A u g 10
1 7 % F e b 19
19 M ay 10
10 F e b it,
36% J ’ly 2 ;.
27% F e b 19
69% A u g -= 70 Jan 13
26 M ay 13
18 F e b 2)
58 J 'n c 2
F e b 19
12 Jan
19% M ayli
45 M ayl2
34 M ay 2
47 A u g 7
30 Feb
87% F eb 19 113 May 10
120 Jan
13938 A u g 13
2 ,7 3 5
1373.4 1 3 8
139%
4„ A u glO
15 F e b 24
etropolltan
S
tre
e
t-----1
,
8
5
0
3
8
38
*25
20% Jan
14%
Jan
M
exican
Cen
tral_________
200
____
*16
14% M ay 1 •„ 17% A u g 10
D o T ru st Co c i r tfs ____
1 0 ,0 3 0
16-34
16%
17
'3 2
:\la c l -i
20 M ch
M
inneapolis
A
St
L
o
u
is
..
1
,0
1
0
283.,
2S
3
30
09% MaylO
61 F e b 29
D o p r e f____________
300
07
67
79% Jan 2 1197s A u g
5 , 5 8 0 Minn St P A S S M arie___
118% 119
119%
12312 F e b 11 144 J ’ly 22
D o p r e f_______________
900
1 3 9 % 13934
140
33% A u g 13
17% M ch
4 2 , 1 0 0 Mo K ansas A T e x a s _____
31
33%
0 5 7g A u g ll
46 F eb 19
D o p r e f________________
2 ,1 5 0
- %
65*4
64
64% May20
2812
F
e
b
19
Missouri
P
a
c
i
f
ic
...............
2
8
,3
2
6
54
5 (3 1
60
115
J ’ly 23
97%
Jan
2
ash C h att A St L ou is.
115
120
♦no
120
90% Jan 2 1 1 0 % J ’ly 2 2
Y Central A H udson
3 2 ,8 2 5
105% 108%
10 93 4
4178 J ’jy 23
24% Jan
N
Y
C
h
ic
A
St
L
o
u
is____
3
0
0
*;*8
40190 Jan 14 102 M ay 12
D o 1st p r e f_________
*90
100
75 M ay 14
60 Feb
D o 2d p r e f . ............... ..
/5
75
*62
14434 A u g l l
1283g
j ;1n
N
Y
N
H
aven
A
H
artford
2 ,0 0 0
1443,
144
143
44 A u g l l
29% F e b 19
2 9 , 7 0 0 N Y O n tario A W e s t e r n ..
421:
4 3 78
4U 2
7534 A u g 13
68 F e b 19
8 , 8 0 0 N orfolk A W e s te rn ___
75
*74
81 Jan 9
74
M
ch
24
D
o
a
d
ju
stm
e
n
t
p
r
e
f___
82
14634 A u g 13
11678 Jan
1 4 2 3 .! 1 4 4 % 2 2 2 , 7 9 0 N orthern P a cific _________
1463,
103 Feb 10 13234 A u g 13
Do subscrip re c ts _____
14,942
1323,
131M
130
71% A p r 2: 03% Jan 14
acific C oast C o ________
800
7 4 i:
74%
SO
90 May2G
90 M a y 2 ( i
D o 1st p r e f_______
100
*80
100
97 Jan 13
79 Mch27
D
o
2d
p
re
f_______
9
5
*
7
5
95
12634
Aug 7
108*4
Jan
2
P
e
n
n
s
y
lv
a
n
ia
_________
71.100
1263)
124
70% J ’ly 25
59 Jan 7
2 00 P fttsb Cln Chic A St L .
77
*75
75
98 J ’ nc
81%
M
ch
3
D
o
p
r
e
f__________
*
9
0
95
921s F e b 17 129% A u g 10
e a d i n g ________________
129
126-1; 8 1 8 , 5 2 0
123
87% M ayl8
78 Jan
1 st p r e f_________
430
85
80
8.5
88D A u glO
76 Jan
2d
p
r
e
f.................
4,820
8
0
§
8
6
87
19% M ay 14
10%
Feb
32,730 R o c k Island C om pany
18i.v
1
14%
40% M aylJ
2034 F eb
.343) 67,336
Do p r e f_____ ______
36> j
32%
61%
Jan 16
42
J
’ne24
St
L
A
San
Fr.
1st
p
r
e
f
..
5
5
55
*50
34 M ay 14
19% F eb 19
D o 2d p r e f . .............
273j
1 ,8 0 5
26%
28
18-% J ’ly 31
10 M ch
1 ,0 0 0 St L ou is S ou th w estern ___
17
1/
18
4 ID J ’ly 31
24% F eb 19
D o pYef______________
%
1 ,0 0 0
40%
38 -%
97% A u g 12
66% F e b 17
9 7 fy
93 1 4
9 5 % 1 8 S . 0 0 0 Southern P a cific C o ____
10638 Jan 2 125% M ay 13
D o p r e f---------------------118
118
1 ,6 0 0
118%
203s A u g lo
9% Jan 10
1934
187g
1 4 , 1 6 0 Sou th ern v tr cfs stam ped
2U *:
251- M ch 5 5 134 A u g
Do
pref
do
4S
49
2 ,3 0 0
5 li:
26 May20
12% F eb 29
2434
5 . 0 0 0 ' J’ cx a s A P a cific_____
25%
47 A u glO
1512 M ch 23
1 8 , 7 9 9 T h ir d A v e n u e (N Y ) ___
37%
40%
41
15% May8'8 A p r 9
5 0 0 T oled o R a ilw a ys A Light
10
*8%
2712 A u g 11
12 F e b 0
7 . 0 0 0 Toledo St L A W e s t e r n ..
2034
27
59%
A u g 11
33
F
e
b
3
D
o
p
r
e
f_______________
9 ,0 5 5
577)
6778
57%
02% MaylO
78% F eb
1 , 4 0 0 T w in C ity R a p id T ran sit
89%
89%
901.,
110D M ch 2 159% A u g 10
nion P a cific _________
1 5 4 3 ., 1 5 7 % 6 0 2 , 7 4 0
159%
86 A u g 14
79% A p r
D o n r e f----------------1 2 ,9 2 5
80
80%
85%
24% A p r 28
15 Jan 24
2 00 U nit R ys In v’ t o f San Fr
*20%
72%
43 " A p r 25
27%
J
an
22
D
o
p
r
e
f_____________
40
*
3
9
40
14% May21
6% Mch 3
1,700
13
13
13
293g A u g
13 M ch 3
6 ,0 0 0 W * b K ? V r v r : : : : : : :
263.
28%
26%
16 M a v l8
5 Mch 14
W
estern
'-’
n
ry
ia
n
d
____
900
14
*
1
2
%
14%
S9%
95
933.
953)
87
56 1g
88%
94191
87
94%
91
9231
*81
51%
3 9 ,5 5 0
1 ,1 0 0
2
94
2 ,0 5 0
5 1 ,0 0 0
e k a & San ta Fe
A tchDToo ppref.
nref____________
B
C
20
403
6^4
10
210
*200
*135
D
39
68*4
*73
H
33
2
35 9
K
I
138%
30
*14
16
*28
*64
118%
140
31-%
*63%
58
*110
108%
*40
*93
138%
3034
4
163
30
681'
119% )
140
32%
G43
58%
120
109%
41
100
4
142
142
4234 4 3 1 '
74%
1 4 3 U 14 4to
1 3 0 3 7 13 11 7
74
74
*80
100
125%
*73
*90
12 5 3 4
$8018 5 ''
183.J
367g
*52 ~
2910
*1734
*39
953g
*118
193.1
50
*25
37
* 8 7s
2 3 7g
56 ”
QO
1567a
823 j
23
273
*13
138%
33
*16
lG 7g
30
*04
118%
140
31%
§G 4 3
5 7 /g
*110
108%
*393i
*93
*72
142%
42%
74%
+80
143
1303.
75D
13S%
43
17%
301.1
%
1 1 9 ''
140
32%
64*3j
583,
120
110%
41
100
76
144
43%
75%
82
144D
131%
70
100
90
1263,
76D
92 "
129%
86D
88D
19
37%
68
4
*80
*7(1
12 5 5 a
77
761**
9.5
*87
1273a
128%
*84%
861'
85-3,
863g
18%
19
3G 3 j
%.
*50
297jj 2 9 % 2 9 %
17
17
181
40
40
41
97
95%
96%
118% U S D
119%
20%
20
20
51D
fiOtj
51
253)
25
25%
47
43%
41
10
*9
10
23 7g
20% .
24
56
58
57
90D
90%
90
1581' 1563.1 1 5 9 '.,
8234 S3
83
22%
*20%
23
39%
39D
*38
14
13%
1314
28%
27%
28%
14
I
i:53
14
120
37
138%
38
16%
16%
2934
*63
118
140
31-%
6434
5 7 3g
*110
1083,1
40
*92
*71
14434
4234
74 3 4
*75
144%
130%
76%
*80
*70
125%
*74
*90
120%
*85
87
lS 3 g
21
'2
139%
38
17
17%
293y
69
119%
HO
32%
65
58%
120
110%
40
100
76
1-113.,
44
75%
85
145%
132%
76%
100
90
1263)
77
95
12 8 5 )
86
88
18 %
373)
*50
291*28% .
18 3 )
18
403)
39%
95*>n 9 6 3 ;
1 1 8 ig U S D
20
203)
50
51
25
25%
43
45
0
9%
25%
27%
58%
59%
90
90%
1 5 7 % 159%
83
83
22%
223)
*38
39%
13%
13%
27%
28%
14%
14%
13 S 3 4 1 3 93 g
*30
40
16%
30
69
11S%
HO
32%
64%
57%
110
108-3g
38%
*90
*70
113%
42->g
74 3 4
*75
144%
131%
76%
*S0
*75
125%
*74
*90
126
*85
88
IS
35%
*49
28
17%
39%
95%
118
19%
50
24%
39%
0
25%
57%
90
156%
83
*20%
*38
13
273
*13
138%
*30
64
66 66
I I
1718
*28
30
69
119%
119
HO
HO
32%
33%
65%
65<g
5834
5 7 'g
*110
110
110
108
*38
39
*90
100
*71
75
143%
113%
43 3 4
42%
75
75
*80
82
144%
1403s
132%
131%
7634
*74
100
♦so
95
*75
126%
126%
76
75
*90
95
128%
80
80%
87
88
IT
1S %
%
36-%
*50
54
27
28
*17
17%
*39%
39%
053
97%
118%
119%
20
20%
*48
50%
25%
24%
39
43
*8%
9
26
27%
57%
58%
90
90%
157
159%
85
85
*
%
21%
*38
391?
13
13%
27
28
1 *13
14
B A N K S
321.1
61
N
100
7534
P
126-53
33
1
20
A N D
4
12534
95
R
39
2534
10
271.1
U
22
T R U S T
R a n g e 1or F r e r l o u s
Year 1 1 9 0 7 )
Highest
H igh est
Railroads
A tla n tic C oast Line R R . .
altim ore & O h io_______
100
85
D o p r e f____________
5 3 ^ 1 2 3 , 4 1 0 B ro o k ly n R a p id T r a n sit.
B u ffalo & S usque, p r e f . .
19,210
lanadian P a cific ________
1 6 8 % 171
17234
171
1723,
172
17 2% 173
172% 1731'
1 7 2 % 174
500
'a n a d a S ou th ern _______
64%
*64
U4-34
*6334
64
64
*6334 05
65
64
65
*64
12 Cen tral o f N ew J e rs e y ___
200
*195
*195
200
*195
*193
200
200
j 195
195
*193
14,470 C hesapeake & O h io _____
4 2 3g
41%
43 3 4
421'
43
42%
%
42%
44
43
43%
42*4
500 C h icago & A lto n R R ____
24
*23
*23
24
24
24
24
24
23%
23%
23%
23%
100
D o p r e f________________
* ____
5S%
58 12 * _____
56%
57
57
5 8 % * _____
* _____
6 6 % * ____
4,000 C h icago G reat W e s t e r n ..
6%
6»s
7
7
6%
7
7
7
0%
6 73
0*4
400
D o 4 % d eb en tu res___
5
8
5
8
*
4
5
5
5
0
0
5
5
5
5
5
5
5
7
%
65
*50
*55
400
D o 5'.T pref “ A ” ____
27
*21%
*24
25
20
20
2 7 l,i
27%
*25
271,1 * 2 5
24
3,750
D o 4 % pref " B ” ____
9%
97g
10%
0»J
9%
10
97g
10
%
9*2
»%
9 ’\s
217,700
C
h
icago M ilw A St P a u l . .
1
4
3
%
1
4
5
'
)
1
4
7
3
g
145
144% 147%
1 4 4 % 147
14 4% 147
14 3% 144%
200
D o p r e f________________
1GU
15 8% 158% *1 5 7
161
*159
161
159
160% *15 9
159
*159
D o com Installm ’ t ctfs
7 ,9 8 8
1 3 3 7g 1 3 5
13534 1 3 7
1353.1 1 3 6 %
135% 137%
136
134% 135
137
D o p re f ln stallm ’ t ctfs
3,700
15 0% 151
15034 1 5 2
1 5 H g 15134
162
152
152
152
151% 152
8 ,1 1 0 C h icago A N orth W estern
1 5 8 % 161) M
16 0% 161%
162%
101
162
163%
160% 102%
16 2^ 8 1 6 3 %
D o p r e f________________
*200
*200
210
210
210
*200
210
210
*200
*200
300 C h ic St P Minn & O m aha
143
*134
*135
140
*135
140
140
137
137% *135
140
D o p r e f________________
100
105
*155
*155
165
*160
160
165
*160
165
100
*155
165
0 00 C h ic Un T ra c c tfs stm pd
4%
*3
*333
3%
*3%
4
33 4
4
*3
35,
*3%
3*4
D o p re f ctfs s tm p d ___
3,000
1
3
*
1
0
%
12
12 3 11
12%
12%
12%
12%
*12
13
13
800 C leve CIn Chic A St L ___
5 7 1;
*56%
5S 3g
5S3g
57%
571)
58
59
59
59
58
*5512
D o p r e f________ ,.______
'
100
*
9
5
*
9
8
1
0
0
*90
*
9
4
9
9
9
8
9
8
99
*94%
99
15,250 C o lo ra d o A S ou th ern ____
32->g 3 3
33
337)
32*4 3 3 %
33%
34
33
34%
33
33%
1,400
D o 1st p re fe rre d _____
02^4
*62%
63
6 2 *4
6234 63
62%
0214
63
02%
62%
D o 2d p referred _______
3,131
53
§5.5
53
533,
53
53%
5334
5 3 3,i
53 *1
53%
53 3 4
7,190
elaw are A H u d s o n ___
170
17 1% 173
172
173
1 6 9 1 ' 17 21 :
1721o 17 4
173
174
cla w are I.a ck A W e s t .
520
*519
*519
520
*519
520
520
*519
*519
520
*519
520
D
en
ver A R io G ra n d e___
1,320
2
8
%
*
2
7
2
7
%
*
2
7
2
3
27 7g
27%
*2634
27%
273g
2752734
880
D o p r e f_______________
08
*66
67
66%
68
67
69
G734
§ 6 8 3 4 0834 * 6 7 1 2
68%
120 D etroit U n ite d __________
*
3
8
4
2
*
3
8
4
2
*
3
8
4
1
*
3
8
4
1
*39
39
555 D ulu th So Shore A Atlan
14%
*14
14%
14%
14 7)
15
143;
*14
*1312
14%
*14
15
1,050
D o p r e f________________
22%
*21%
227«
23
$223g
24
*23
23%
23
23
23D
230
3.4200
2
2
%
2
4
3
)
2
4
23-%
2
3
%
2
4
%
2
4
%
2
3
%
24%
24%
243;
k
HCI)o ’ i st' p r e f I ” I r 11
2,300
3
9
39%
39%
39%
39%
40
•58^2
39%
3 9 7g
40%
4 0 3g
4 0 ;%
3,100
D o 2d p r e f ________
293;
28%
29 -%
30
29%
30
30
an ~ 30
30
30
29%
109,770
G
reat
N orthern p r e f____
1
3
8
'
:
1393.1
1
3
6
%
1
3
8
%
1
3
8
%
1
4
0
1
3
8
%
13
93
g
13 8% 139
1 3 8 D 139%
063;
18,230
Iron O re p r o p e r t ie s ..
077g
66
66%
67
077&
68
66%
07%
6 8 ~ 68%
G reen Bay A W , d eb c t f A
—
*73
*73
_____
*73
*73
III
Do
d eb c t f P
1 5 lf
1 5 ?g
15%
16
151-»
1 5 34
1 5 "g
15%
16
15
15
147g
1 ,2 0 0
avan a E le c t r ic _____
32%
*3 0 3 4 82%
31%
31%
*31
32
*27
32
32
28-'9
D o p r e f_____ ______
79q
797g
*76
*78
*78
797)
79%
*78
7 9 7g
79?i> * 7 6
*70
100 H ock ing Valley tr r c c t s ..
90
*85
*85
*85
*85
90
90
90
87
87
90
*85
D o p r e f............................
87
*81%
*81%
*81%
87
87
*81%
87
87
*S1%
87
" " s .s o o I lllnols C en tral___
1393j
136-\s 1 3 7 %
138% 139%
138
1371.4 1 3 9 %
1 3 9 3 , 14(11.
139% 1401'
37,341
1
2
%
i
n
t e r b o ro -M e tro p o lita n .
1234
1
1
%
1
2
%
1234
1
2
%
1
2
%
123g
1
3
%
13%
11&8
12%
D o p r e f_____________
4 9 ,4 4 5
33%
31%
36
35%
36
35 ^4
37%
33%
35%
38%
35%
%
1 ,2 0 0 Iow a C en tral____________
17%
173.1
173.J
17%
1734
17%
17%
*17 1.4
18
17%
173i
17%
Do
p r e f________________
3
5
1
,
3
1
0
*
3
4
3
5
3
5
*
3
4
%
3
5
D
3
5
%
3 51
$ 3 5 l2
I
35%
35%
C F t S A M . tr cts prel
2 00
60
*59
61
61
*59
01
62
*59
62
62
64
*59
ansas C ity S o u t h e r n ..
900
24
253) *2 4
253g
24
25-%
26
*24
25%
25-%
2533 2 5 %
D o p r e f____________
375
5 7 *2
*56
57%
57%
58
57%
*5612
§57%
57%
57%
58
58
ake Erie A W estern . .
100
17%
17%
*15
17%
171' * 1 5
18
181' * 1 0
18
*1512
*16
J
D o p r e f____________
49
*43
*43
49
49
*43
49
*43
*43
49
49
*43
200 Lon g Isla n d ................. .........
48
*44
43
48
*43
48
*43
*45
43
50
*45
48
10,80 L ou isville A N a sh ville___
11 0% 1117)
108% 110
110% U U .
109% 111%
111
11U .
111
111%
92%
93%
*80
56
Y e a r ly
l’ A G E S
C O M P A N IE S —
B R O K E R S '
6638N o v
78 N ov
58 N o v
753gN ov
75 N ov
2634N ov
74% N ov
138 N ov
52 N o v
144 N ov
r23% N ov
8% N ov
48 Sep
678N0V
46 D ec
21 D ec
8% Dec
93% Nov130 N ov
'8 6 NovI l l O ct
120 O ct
185 O ct
100 O ct
137%Dec
134 O ct
8 D ec
48 N ov
86 D ec
17 N o v
41 N ov
29% N ov
123%Oct
309%Oct
16 Nov53 N ov
31% D ec
G%Oct
10 N ov
_2%Nov
28 N ov
20 N ov
107%Oct
37 O ct
75 O ct
534O ct
24% Oct
72 A pr
63 N ov
64 Nov116 N ov
47gOot
14 N ov
9D.\OV
2 9 "D e c
60 O ct
18 M ch
45 M ch
11 N ov
3934N O V
26 D ec
85% N ov
100% O ct
23 D ec
12-%N ov
108% Jan
101% Jan
133% Jan
122 Jan
94% Jan
83% Jan
8534 F eb
195% Jan
65% Jan
22o ” J an
56 J an
27D J an
69 " J a n
18 Jan
79 F eb
713- F eb
26% J an
157% Jan
165% J an
141 " Jan
149 Jan
205 Jan
234 Jan
170 Jan
165 Jan
334 M ay
17 J ’ly
927s Jan
1 0 8 D Jan
387g Jan
69% Jan
5 8 I2 Jan
22 7 D J a n
610 " Jan
427g Jan
837g Jan
80% Jan
19% Jan
39
Jan
4 4 % Jan
757g Jan
67 Jan
189% Jan
85 Jan
75 O ct
141-0 Jan
4 7 " Jan
86% Jan
114 " M ch
94
Jan
172 Jan
39 Jan
7 5 % Jan
2873 Jan
51 Jan
80 Jan
30*4 Jan
6i34 -Jan
2 8 D Jan
07% A p r
07% Jan
145% Jan
146 F eb
107 J an
2 7 % Jan
* 59 J an
2 8 % D ec
90 J an
rG2%Dec
140t4 Jan
60 O ct
168 Jan
110 O ct
44% Mch
20% N ov
7234 Jan
53 N ov
923.! Jan
44% D ec
147 Jan
97 D ec
1 3 4 3 4 Jan
x89 D ec
G3D Jan
1934O ct
110 " Jan
85 N ov
9 134 Jan
41 O ct
189 Jan
1273sN ov
4838 J an
28 O ct
92% Jan
56 O ct
90 D Jan .
70 O ct
189% Jan
100% 0ct
134 F eb
91% N ov
124% Jan
56 N ov
76 N o v
05 Nov125 M ch
85 D ec
1413g Jan
il0 3 % N o v
78 Jan
51 O ct
105% Jan
69% O ct
139% Jan
70% O ct
92 Jan
73 O ct
94 Jan
67 N ov
30% Jan
11% N ov
64% Jan
26% N ov
70 Jan
68 O ct
48*g Jan
24 N o v
25% Jan
li N ov
62% F eb
25 N o v
96% Jan
63% O ct
118% Jan
100 O ct
34 J a n
10 N ov
9 4 % Jan
29% N ov
3 7 % Jan
17% N ov
123 J an ;
16 N ov
29 J a n 1
9 D ec
3334 Jan
1634D cc
547g A p r
2 9 3 4 N ov
108% Jan
6834N ov
183 Jan
100 O ct
96 M ay
75 A u g
62 Jan
10% Nov71% J an
20 N ov
18% J a n
8 O ct
38D Jan
14% N ov
3oi-> Jan
6 O ct
Q U O T A T IO N S
R id
A ik
R id
A sk
Banks
Banks
O riental H -- ____ ____
M etropolis li 375
230
250
162%
167%
Pacific
H
~
M etrop ol’ nll
Fifth A v e il. 3800
415
Chem ical . . 405
425 1
P a r k ---------- 415
N ew Y ork
Mt MorrlsU- 200
350
C itizen s’ Ct! 1471' 152% Firth .......... 300
305
295
P e o p le ’s 11
305
295
A e t n a .......... 170
M utual 1] —
—
305
First ---------- 675
C it y ............... 390
625
510
P h e n lx ------- 147% 155 1
A m e r i c a II ____
195
205
N assail 1]—
_____
175
215
225
14th
St
1
1
.
Coal
&
iron
_____
A m e r E x c l i . T225
Plaza 11-------- 575
____ N ew A m s t .
700
F o u r t h ------ 197% _____
Colonial H125
113
ieo
P rod E x ch li 150
B a tte ry P k .
210
New N e th ’ d
310
325
G a lla t in ___ 315
C olum bla H. 400
500
335
Sherm an .11 135
B o w e r y V - 320
N ew Y ork C e 500
250
f290
_____
G
a
r
l
l
e
l
d
___
flliO
168
C
om
m
erce
_____
350
B r o n x B o r o li 300
Seab oard . . 340
310
300
N
ew
Y
o
r
k
.
2
5
5
130
138
120
G e r m A m 11
155 C on sol’ t ’ d . . 115
B u t c h & D r 150
S e c o n d ____ 350
260
N ’ ht AD ayll
M e c h & T r a 1;
500
225
G c r m ’ n E x ll 475
C op per . . . . 218
170
185
230
C e n t u r y 11-
S tate 11_____ 210
19th W a rd II
500
135“
125”
_____
M e r c a n t ile .
500
315
G e r m a n i a 11
Corn E x 11-- 310
C h a s e _______ 23i
12th W a r d U ____ 300
170
N
orth
A
m
er
1
6
5
265
M
e
r
c
h
E
x
e
h
250
145
G r e e n w i c h 11
East R iv e r . 135
305
190
C h a t h a m . . 300
---- ____
155
23d
W
a
r
d
H
N
orthern
162121
157%
M e r c h a n t s '.
. . .
175
H am ilton U. . . . .
F id elity H -- 165
—
C h .- D e .a K x II 200
u ay. 4 m - i i s u H . ,
______ ij S tate banks a K x - d ' v l d e n d a n d rig h ts, b N ew s to c k
w en
* Bid an d asked prices; no sales
s;
1st In stallm ’ t p a id ,
n S old at p riv a te sale a t this price.
1 Sale at S tock E x ch an ge or at auct o n this w eek
Banks
R id
A sk
B anks
R id
A sk
Banks
R id
A sk
R id
A sk
475
530
Im p & T ra d
175
Ir v in g N E x
170
J e l l e r s o n II
L ib e r t y ------- 5 0 0
L i n c o l n ___ f 4 7 5
290
M a n h a tta n H
M a rk ’ t& F u l 240
M e c h a n i c s ’ . •248
485
540
185
ISO
Banks
H anover . .
it
398
flew York
StOCK Record— Concluded— Page a
S T O C K S — H IG H E S T A N D L O W E S T S A L E P R IC E S
Saturday
A u g u st 8 .
M onday
A u g u st 1 0 .
T u esday
A u g u st 1 1 .
Wednesday
Au gust 12.
Thursday
A u gust 1 3 .
F r id a y
A u gust 14.
10%
+18
12
21%
42%
10
*18
11%
22%
43
10
*18
*11
23
*43
91*
.1 8
*11
23
431*
9
*16
11
23
41
101.
21
12
22%
44%
10
20
12
23
44%
10
20
12
23
44
9%
18
12
21%
4412
Salts 01
the
Week
Shares.
STOCKS
N E W Y O R K STOCK
EXCH AN G E
[Vol. LXXXVII.
Range Since J a n . 1 1 90 8
On basis 0/ 1 00 -sh are tots
Range tor P revious
Y ea r (1 9 0 7 )
934
20
11
2 3 »2
4212
1 ,3 6 0 W h e e l i n g & L a k e E r i e ____
10% J a n
100
V o 1 s t p r e f .................
37% J a n
732
D o 2 cl p r e f __________
21% J a n
7 ,5 0 0 W i s c o n s i n C e n t r a l ___
2 5% J a n
4 ,2 0 0
D o p r e f ___________________
51% J a n
I n d u s t r i a l i s t ,M i s c e l l a n e o u s
*181
_____ * 1 8 1
_____ * 1 8 1
*181
*181
...
_____
*181
164 J a n
2 4 18 5
J a n 13 4 15 0 A u g
d a m s E x p r e s s _____
’, 3 3 0
J ’ne
*11%
11%
11
11%
11%
11%
11%
I l l 's
12
11%
11% 117S
2 ,1 8 0
6
M ch 6
12
J ’ l y 22
I l l s - C h a l m e r s _______
1G78 J a n
4 Aug
3 4 % 3 6%
*35
35%
34%
35%
34%
35%
3 4 % 363a
3 4 % 3 5 % 1 0 .0 0 0
36% A u g 1
14
M ch 6
D o
p r e f _______________
14
N
o
v
4
3
%
J
an
79% 81%
83%
8 0 % 82%
81%
82
83%
7 9 % 8 1%
7578 7 9% 2 4 1 ,1 4 0 A m a l g a m a t e d C o p p e r ____
4 5% F e b 19
88% A u g 8
*41% O c t
1 21 % J a n
2 5 % 2534
25
251.
25
25
**2 4% 2 5
23
251* * 2 4
25
2 ,2 0 0 A m e r A g r i c u l t u r a l C h e m .
26
J ’ l y 22
13 J a n
4
10 O c t
25% J a n
* 9 2 % 92% * 8 7
95
*92%
9 2%
*87
95
+87
95
*87
95
9 4 % J ’ l y 24
78% J a n
4
D o p r e f ___________________
75 G e t
05
F eb
2 1 % 22%
21%
21
22%
2 1 % 2 2%
20%
2 0 % 2 2%
2034 2 1% " 8 * 6 6 5 A m e r i c a n B e e t S u g a r _____
24% A p r
9 % F e b 10
231* J a n
7% N ov
♦___
* _____
78
* ....
78
78
* .,-78
* ------78
* ------78
6 5 J a n 23
78
A n r 23
D o p r e f ___________________
75 M c h
80 " J a n
6%
($ 3
6'Jv
6-%
f>78
6%
6%
6%
6%
61*
*6
6%
5 .7 0 0 A m e r i c a n C a n _______________
4
F e b 20
6 % A u g .1
710 A p r
3 O ct
61
6 1 % 613.
60
62
CO
61%
01
61
61 " * 6 0
61%
2 ,4 5 0
44
Jan
62
J ’ l y 22
D o p r e f ___________________
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42
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D o p r e f ___________________
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Jan
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35
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_____ * 9 0
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D o p r e f ___________________
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70 N o v
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215
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215
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M a y ll
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D o p r e f ___________________
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D o p r e f ___________________
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d o p r e f _________________
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OHIOAG-O STOCK EXO HA
S T O C K S — H IG H E S T A N D
Saturday
A u gust 8
M onday
A v g u st 10
*176
ISO
*176
ISO
*212
3
*213
* _____
10
* ____
10
41
4 0 1 - 401- * 4 0
22
23
* 2 1 " 22
Tu esday
A u gust 11
L O W E S T S A L E F itIC E S
---F rid a y
ednesday
Thursday
A u gust 14
A v g u st 12
A u gust 13
*170
180
*176
180
*21 *213
3
* ___
*
10
10
*4 0
4 0140
4014
23
24
23
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15
151 2
471- * ___
38
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7512 * 7 H ¥
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4634
431-
39
75117
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50
48
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48
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98
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15
50
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2S1987s
ISO
17712 177*2 * 1 7 5
J u l y ’0 8
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la s t Sale S
4 0 14
4 0 l4
•1014 401.|
23
22
23 ‘ 23Q
*39
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*15
4 31-
40
Sale
17
451-
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JAist Salt
47?8 47<s
9734 9 8 l4
Last Salt
6
6 I4
61 2
0U
Cr>s
6-V
6 U - G2
01U GH2
62
62
*60
____ * 1 50
*150
____ *1 50
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20
127
*120
127
*120
127
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44
44
____
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45
451*100
101
100
100
100i 2 1001- * 1 0 0
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30
140
25
93
4 8 ls
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93
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20
93
4S12
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93
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1
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1
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3 01 - * _____
140
13978 143
1 11
111
* 1 0 1 1 - 102
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* 3 U - 32
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*68
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93
481-
4
30
144
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143
18
J u l v ’07
40
*38
A u g 'O S
75
17
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U5U M a v ’OS
A u g ’0 8
1334
56
M a y ’ 08
48
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*2814
2812
97
97*s
28
J u n e ’08
6
6 I4
61*60
61
61
6H 4
Last Salt 150
160
118
Last Sale
127
445
4634 47
4534
*100
101
*100
101
10
25
*23
25
25
25
03
93
9 31*92
93
48
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147
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144
4
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144
+29
144
31
145
H 1019 111
+ 1101- 111
111
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1 0 1 'j 102
101 1- 108*4
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1:4412 1343,1 1 3 4 U 1347s 134
32
32
32
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32
32
8914 8 OI4
SOU 8914
89*4 9 H *91
92
9 *2
120
120
1101- 1101119
1 IOI2 1191- 120
* ___
70
72Q
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701- * 6 8
721 *> * 6 8
10812 1081- 10S12 * 1 0 7
10811081" 108 1- 1081- * r o s
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*9 1
* 9 1 “ 92
104 3 j 10478 10412
*127
* ___ " 128
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2%
21.i
21* _____
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17
Stock Record— Daily. Weekly and Yeariy
9 63 , 971967g 97
*35
* 8 5 1 - 37
- ____
9(8 - 9 H s
91
91
92
10438 1037s 1041.1
104
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1 28
128
100
100
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100
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214
*
___
*
___
17
17
17
97
9714
Last Sale
91
91
10334 104
125
1 25
9912
9912
214
2 I4
Last Sale
e«4
6034
A u g ’08
J u l y ’08
46
101
J u ly '0 8
25
9.3
J u ly '0 8
M a y '0 8
O c t '0 7
A p r ’08
4
29
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14514
145
M c h '0 2
2Q
111
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U)414
1031*134
13412
32132151*4
F e b '0 6
J u ly ’08
15121J u n e '07
JO"
J u l y ‘0 8
897*
89
1191*119
A u e '0 8
to
1081- 10812
5^4
90
9512
A u g -0 8
35
91
0012
10.334 104
125
126
9912 ICO
A u g '0 8
lo
2>4
2>4
1612 J u ly '0 8
Sales
o / the
W eek
Shares
H U/hcst
Lowest
R a ilr o a d s
10 C h i c a g o C i t y R y _______l o o
. . . . C h ic a g o & O a k P a r k . 100
___ _
D o p r e f _______________1 0 0
167
952 C h i c a g o S u b w a y .
lo t)
Range ;or Previous Year
(1 9 0 7 )
Range Since
J a n . . 190 8
STOCKS
C H IC A G O S T O C K
EXCH AN G E
1 60 J a n 24
1-8 F e b 3
7
M e h lG
40
J ’ l y 20
15
F e b 10
1i l o \ f r h 2 ?
Lowest
180
J ’ l y 21
J ’n e l t .
91- M c h 27
47
24
A ugU
4
M ay25
150
M ch
1*4 N o v
O ct
10
11
O ct
N ov
N ov
D ec
N ov
O ct
N ov
D ec
N ov
N ov
N ov
Jan
D ec
D ec
O ct
F eb
7><
60
M O 's
130
80* *
109
40
40
111
54
165
Apr
Apr
S ep
Apr
Jan
Jan
M ch
J 'n e
F eb
Jan
F eb
Aug
D ec
O ct
6 l« J ’ n e
51
F eb
1 3 4 i2 A p r
95
77
108> 2
34
O ct
O ct
N ov
N ov
112Q
s7-V
12912
57
M ay
O ct
M ay
M ay
Jan
Jan
M ch
Jan
Jan
Jan
Jan
J a n 31
M a y li
J a n 13
F e b 21
J ’n e lk
M ay 4
20
58
60
26
95
20
4
F e b 13
4 1 1 -J a n
2
125 J a n 10
11(5 A p r 22
37
M c h lO
91
Jan
2
10
J ’ly 7
227s J ’ l y 3 0
90
J a n 10
4 0 F e b 20
147
M ay c
6*8
62
150
127
6 5 l2
101
42
30
100
51
147
A u g 10
A u g 10
J ’ l y 27
A p r 13
J a n 16
J ’n e 2
Jan
9
J a i l 11
M a y lA p r 28
M ay G
D o p r e f ___________________
100 C h i c P n e u m a t i c T o o l - 1 0 0
1 .2 6 1 C h i c a g o T e l e p h o n e ____1 0 0
Do
r i g h t s ______________
66 C h i c T i t l e & T r u e t . - . I O O
2 ,3 2 2 C o m n i o n w ’ t h - E d i s o n . 1 0 0
33
D i a m o n d U a t c h _______ 1 0 0
194 I l l i n o i s B r i c k .....................l o t
4
21
1 06
4
Apr
3012 A U g
145>4 A u g
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F’ c b
111
1 03
J ’ ly
135
J ’l y
3V
Jan
3
341120
112
0
85
30
2.3
90
45
165
1
6
21
95
M a s o n i c T e m p l e _______. . .
U l l w 3c C h i c B r e w i n g _____
_____
D o p r e f ___________________
3 9 i N a t i o n a l B i s c u i t _______ 1 0 0
24k
D o p r e f ______________ l o t
_____ N a t i o n a l C a r b o n _______ l o t
36
D o p r e f _______________l o t
38
866 P e o p l e '» G a s L < c C o k e . . 1 0 0
S ea rs- R o c b u c k c o m . - l o t
24<
D o p r e f _______________l o t
1,711 S w i f t & C o ..................... _ . 1 0 t
29 T h e Q u a k e r O a t s C o __ l o t
D o p r e f _______________l o t
110
___
U n it B o x B d * P C o .lO t
D o p r e f _______________l o t
69C
_____ W e s t e r n S t o n e ________ 1 0 0
A lin in g
Apr
F eb
Jan
34 F e b
100
Jan
80
Jan
113 J a n
30
Jan
19
70
101*4
51
91
13
26
3
25
4
3
2
22
13
8
14
21
4
11
lo
14
J ’ n e 15
46
J 'n e 2 3
Jan
3
Jan
2
M ch 3
M oh23
20
92
120
70
112
J ’ l y 24
Aug c
Aug £
J 'n o 16
M a y 19
*1
2125
58*s
U1
50
97*4
Aug
Jan
F eb
O ct
XVo v
N ov
NOV
46
2 127
86
117*4
84*4
120
9 7 12
40
92
105
134
ICO
1^4
12
17
A u g 11
M a y 20
J ’ l y 31
J ’ l y 25
J a n 29
J ’ l y 30
Jan
4
J+ui 15
A p r 11
7-2
20
07
751100
85
34
6
16
N ov
N ov
N ov
N ov
N ov
O ct
N ov
Jan
D ec
92*8 A p r
57
Jan
95
Jan
1 1 3 1 -J a n
1 7 3 i2 M a y
102*4 J a n
2U A p r
12*4 A p r
30
F eb
SO Q Jan
24
Jan
72
Jan
8 8 1 -J a n
11434 J a n
87
Jan
i4 J ’ ly
IQ J ’ly
14 A p r
3
24
16
2
3
3
17
17
25
J ’ly
s
46*- J a n
S ep
Apr
N ov
O ct
Apr
M ch
Aug 6
M ay 5
A u g 13
A p r 16
A p r 20
A n r 13
1334
63
4778
2 6 '2
85
25
Apr
Jan
Apr
Jan
Jan
Jan
Jan
Jan
J 'l y
Jan
J 'l y
Jan
Jan
M ay
Apr
J a n 14
J a n 20
J a n 22
M a y ls
38
A u g 11
G SD Jan
4
13
J ’ l y 14
42
Jan
6
2 05
5
16
1 9i4
65
87
28
72
47
251«6
90
34
99
35
46
79
19
54
47
20
50
71
2 91 103
31
14
28
68*4
17
43
36 K a u s C it y R y & L t -.lU O
_____
D o p r e f _______________l o o
185 l l e t r o p o l W S K i e v ____1 0 0
3 60
D o p r e f ...........................1 0 6
N o r th C h ica g o S tre e t-1 0 6
_____ N o r t h w e s t e r n E l e v ____1 0 0
_____
D o p r e f _______________1 0 0
1 20 S o u t h S i d e E l e v a t e d . . 1 06
25 S t r e e t s W S t a b l e C L_10<J
893
D o p r e f _______________1 0 6
W e s t C h ic a g o S t r e e t - -1 0 6
M is c e lla n e o u s
3 .3 5 8 A m e r i c a n C a n __________ 1 0 0
580
D o p r e f _______________1 0 0
_____ A m e r i c a n R a d i a t o r __ 1 0 0
_____
D o p r e f _______________1 0 0
5 55 A m e r S h i p b u i l d i n g ____1 0 0
2C
D o p r e f _______________1 0 0
A m e r S t r a w B o a r d ________
70 B o o t h ( A ) & C o .............1 0 0
149
D o p r e f _______________1 0 0
_____ C a l & C h i c C a n a l * D . 1 0 0
_____ C e n t r a l T r u s t B a n k . - 1 0 0
Highest
321 *> J a n
32*2 J a n
16G A p r
20
N ov*0C
N o v ’ Oft
Last Sale 4
Chicago Banks and Trust Comoanies
Ohicaeo Bond B<ocord
BONDS
O AU U STUU K
EXCH AN GE
W eek ending A v g u st 14
u n
InterCSl
Period
F rid a y
A u g 14
/ ( ‘ ds
Sold
tcangc
Since
J a n . 1 1908
N o.
Higt.
100 M e h '0 7
1607s J l y ’ OS ____
100 M a y '0 7
4
101
lO H s
103 A p t ’ 0-1 _____
5 5 A u g '0 7
9634 J a n ’ 06
_____
_____
87 F cO ’ OO _____
99*2 1 0 1 's
_____
947g 10 D s
_____
_____
_____
____
_____ . . . .
___ _ _____
W eek 's
Range or
Last Sale
S id
A r a e r S t r a w b ’d 1 s t 6s
1011
1927
1939
1929
1012
1919
n \9 2 1
1927
" A ”
"1 1 "
"C ”
1913
C h ic It 1 & P R R 4 s . . 2 0 0 2
1913
C om m on w
1 s t tr s _____ J u l y 1 9 2 6
D e b e n t u r e 5 s -------- 1 0 2 6
C o m m o n w F l e e t O sOUM .’S
I l l i n o i s T u n n e l 5 s _____ 1 9 2 8
K a n C l t v R v & L t C o 6 s 1 0 13
K n l c k ’ b ’ k e r le e 1st 5 s . 1 9 2 8
— 1 s t 5 s ___ 1 9 2 8
1925
M e t r W S id e F I —
1938
1st 4s__
E x t e n s i o n * 4 s _______ 1 9 3 8
1909
1916
R e f u n d i n g tr 4 4 4 s . . 1 9 3 1
N o C h ic C lt v R y 4 K s li)2 7
N o r t h W e s t HI 1 s t 4 s . . 1 9 1 1
1945
1916
1943
1947
1030
1921
1914
1045
1011
J
J
J
F
J
J
F
A
A
J
-
J
J
D
A
J
l)
A
O
O
J
J - J
F - A
.\1 - N
M - S
101
74199*8
t 87
t 78*8
t 7 6 l8
{1 0014
S a le
S a le
S a le
88
S a le
S a le
S a le
____
J100
1-014 lOOV
A - O
1 00
it - S
M - S t i o i U S a le
J - l)
H - N
90
A - O
J - J
F eb
F
J
J
•1
A
M
M
M
.1
M
M
\l
A
M
J
J
M
J
.1
A
,n
-
851;
A
83
J
J
.1
O
N _____
S a le
S tsa
92
N
99
1)
S
_____
96
N
N
9712 _____
_____
_____
O
___
_ lo o f,
S
S a le
J 1 103
1003.,
1) a o o
___ .
_____
N
95
J t---1001s
100
J
_____
90
O
n
7 31751991g
101
8 7 A u k 'O 7 8 l8
79
76
761IOOI4 IOOI4
79 N o v ’ 0-1
80 A p r ’ O-J
7
10
2
13
12
lO O Q J u ly ’ Oa
5
99M
991.
'O I I 4 IO U
2
9 0 D c c ’ Oo
95 J u ly ’ O ____
9 2 1 -A u g ’ OiS
____
85 M ayO
16 M a y '0 7
85
80
90
85
A lK 'O J
D c c 'O l
79 A ug'O i
75 F e b ’ O '
86*4
88
92 A u g ’ 05
99
99
94 J u i y ’ OA
96
'96
9 7 1 -J a . '01
112 M ark)!
IO U - J ly ’O
10234
103
101 J u l y ’ Ot
100 M ay'O *
9 o >4 J l y ’ O.*
100
100
90
F c h ’ O;
114 N o v ’ O6 6 A p r ’ IF
9 0 M a y 'O '
6 8 l2 .S cp ’ O.
_____
_____
1928 n - n
1900 F - A
.1 - 1)
8 0 '4 J .e’ ot
1036 M - N
87 D c c ’ Ot
W e s n i v O I t v R v 4 > 4 s l9 3 2 1 - J
___
8 51 - J . y ’OS
W e ste rn S ton e C o 5 s .. 1909 A - O
N o t e . — A c c r u e d in t e r e s t m u s t b e a d d e d t o a il C h i c a g o
Jan
_____ H u h b a r d - E l l i o t t ---------------
1
____
____
____
_____
5s
_____
1
1
____
____
8
—
____
—
1
_____
_____
_
_____
____
_____
..
bon
68
75
951.1 1 02
86?S 9 0 3 ,
7 8 ls 825s
793,
76
973.1 10012
_____
100
100 1.
97
10012
9834 996s
10U 2
93
Outsiand-
S u r p lu s
Slock
t
r r o ju s
T
D ividen d Re tord
NAM E.
B a n k e r s N a t i o n a l ________
C h i c a g o C i t y ________________
C o m m e r c i a l N a t i o n a l ____
C o n t i n e n t a l N a t i o n a l ____
C o o k C o S ta te S a v in g s ..
C o r n E x c h a n g e N a tio n a l
D r e x e l S t a t e .............................
D r o v e r - D e p N a t i o n a l ____
E n g l e w o o d S t a t e ---------------F i r s t N a t i o n a l ............... ........
F orem a n B ros I l’k ’g C o .
F o rt D e a r b o r n N a tio n a l.
H a m i l t o n N a t i o n a l _______
H i b e r n i a n 13’ 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 ch a n g e N a t
M o n r o e N a t i o n a l __________
M u t u a l B a n k _______________
N a t H a n k o f R e p u b l i c ____
N a t i o n a l C i t y _______________
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 te S a v in g s
O a k l a n d N a t i o n a l ________
P r a i r i e N a t i o n a l ____________
9534 P r a i r i e S t a t e ________________
93
8518 921- H a l l w a y E x c h a n g e _______
80
H al- S e c u r i t y ............... ......................
S o u th C h ic a g o S a v in g s ..
S t a t e H a n k o f C h i c a g o ____
8 D 4 8 8 I4 S t o c k Y a r d s S a v i n g s _____
St)
U n io n B a n k o f C h i c a g o ..
85
- l'-A U n i o n S t o c k Y a r d s S t a t e
_____
A m e r i c a n T r u s t <3c S a v g s .
_____
_____ C e n t r a l T r u s t C o o f I I I ___
_____ C h i c a g o S a v H k <5c T r _____
_____
9 01- C h i c a g o T i t l e & T r u s t ____
86
k014 9.1
C it iz e n s T r u s t & S a v in g s
99
C o l o n i a l T r u s t 2c S a v i n g s
99
94
95
D r o v e r s T r u s t & S a v in g s
96
86
H a r w e l l T r u s t C o . ...............
971- F l t s t T r u s t & S a v i n g s —
9 71H a r r is T r u s t & S a v i n g s . .
10U12 112
10.’
14
I llin o is T r u s t & S a v in g s .
K en w ood T ru st & Savg6_
9712 1033;
9434 101
L a k e V ie w T ru s t & S a v g s
101
M erch a n ts' L oa n & T r C o
98
9334 9 61- M e t r o p o l i t a n T r u s t & S a v
100
N o r t h e r n T r u s t C o ________
93
00
90
N o rth w est T ru st & S avgs
P e o p le s T r u s t & S a v in g s .
08
66
P u llm a n T r u s t & S a v in g s
____
_____
R o y a l T r u s t C o ___________
__
S t o c k m e n ’s I ru st & S a v .
U n i o n T r u s t C o . ________
S0 I4 W e s t e r n T r u s t & S a v i n g s
7212
W e s t S id e T r & S a v B a n k
W o o d la w n T r & S a v B k _ .
70
8 5 1d p r ic e s
S 2 .0 0 0 .0 0 0 $ 1 ,3 4 0 ,5 6 3
33320
1 0 0 ,0 0 0
1 5 5 .5 7 6
5 0 0 .0 0 0
3 -.0 0 0 .000 4 ,3 0 8 ,9 7 6
4 ,0 0 0 ,0 0 0 3 ,4 9 8 .0 2 9
4 .3 6 3
6 0 ,0 0 0
3 ,0 0 0 ,0 0 0 4 ,9 8 8 .2 1 9
4 S .5 0 6
2 0 0 ,0 0 0
5 6 9 ,3 4 5
6 0 0 .0 0 0
3 3 ,4 3 0
2 0 0 ,0 0 0
s . 0 0 0 .0 0 0
1 6 6 ,1 4 6
1 5 0 .0 0 0
6 0 8 .1 8 6
5 0 0 .0 0 0
4 1 6 .1 0 ;'
1 .0 0 0 .0 0 0
1 5 1 ,9 5 6
5 0 0 .0 0 0
9 7 5 ,8 8 7
1 ,5 0 0 ,0 0 0
1 04 ,5 3 5
2 0 0 ,0 0 0
1 .2 5 0 .0 0 0
5 7 ,6 4 v>
3 0 0 .0 0 0
bb,
2 5 0 .0 0 0
1 .2 5 7 ,8 6 1
2 ,0 0 0 .0 0 0
4 5 8 ,5 6 3
1 ,5 0 0 ,0 0 0
5 6 ,5 4 6
2 5 0 ,0 0 0
0 1 ,6 8 5
2 0 0 ,0 0 0
9 ,2 5 8
5 0 .0 0 0
3 8 .7 5 3
1 0 0 ,0 0 0
7 9 ,9 8 4
2 5 0 ,0 0 0
6 1 ,3 7 5 0 0 ,0 0 0
7 .5 5 1
2 5 0 ,0 0 0
3 0 0 ,0 0 0
1 2 1 .0 1 4
7 7 ,2 4 ,
2 0 0 .0 0 0
1 .2 5 0 .6 4 7
1 ,0 0 0 ,0 )
2 5 0 .0 0 0
1 5 0 ,5 1 3
4 5 .6 3 1
2 0 0 .0 0 0
69»(S0ft
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3 .0 0 0 .0 0 0 2 .6 6 1 .4 2 s
2 ,0 0 0 .0 ' It) 1 .0 0 1 .6 0 0
1 1 1 ,4 2 0
noOO.OO'J
5 .0 0 0 ,0 0 U 11.- ' 7 ,047
8 .2 1 1
5 0 .0 0 0
6 0 0 .0 0 0
4 9 4 .5 9 7
9 0 ,2 1 8
2 0 0 .0 0 0
1 .6 0 0 .0 0 0
1 3 6 .4 7 4
1 .8 4 8 ,9 2 4
2 .0 0 0 .0 0 0
5 8 5 .3 2 0
1 .2 5 0 .0 0 0
5 .6 0 0 ,0 0 0 S . 1 7 6 ,4 5 2
4 0 .3 .9
2 0 0 .0 0 0
3 1 .5 0 4
2 0 0 .0 0 0
3 ,0 0 0 ,0 0 0 4 ,0 9 4
2 4 0 .0 5 1
7 5 0 .0 0 0
1 ,8 0 1 .8 7 1
1 ,5 0 0 ,0 0 0
4 0 ,1 3 1
2 0 0 .0 0 0
7 0 ,1 4 8
2 0 0 ,0 0 0
16* ,6 8 L
koOO.OOO
6 0 2 ,6 8 6
6 0 0 .0 0 0
2 0 0 .0 0 0
1.000.00C
1.C 67 .211
1 .0 0 0 .0 0 0
1 9 0 .2 1 7
2 0 0 .0 0 0
4 1 .3 4 3
2 0 0 .0 0 0
2 8 ,3 1 7
In
In
8
5
10
12
8
6
12
a
8
3
12
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8
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lU ly '0 8 . 112
/ u l y ’ 0 8 . 11>'nu ’ 0 8 3
, ’ n o ’0 8 , 2 X2
l u l y '0 8 . 2
l u l y ’ 0 8 . 2 l2
J u ly '0 8 . 2
m ly '0 8 . 5
, 'n e ’0 8 212
A u g ’0 8 . 1
J ail 'OS. 4 Q
J u ly ’ 0 8 , 2
J u iy ’ 0 8 , H 2
AU< 2 0 1907
J u ly '0 8 . I Q
lu ly ’ 0 8 . I Q
f n e ’ 08 , 11. . .. . . .. . .
F n e '0 8 . 2
J an '0 8 . 2
12 1906
a l l y '0 8 . 1*2
July '0 8 , 3
F n e ’0 8 . 3
M ay ’ 68, 3
lu l y ’ ;8 . I t lu ly '0 8 , 2
lu ly '0 8 . 1*4
. . . _______ J u ly '0 8 . I Q
A nr ’0 8 , 2
J u ly '0 8 , 21*
J u ly ’0 8 , 2
1 3 1907
. . . . . . ___ _
J u ly ’ 0 8 . 2
J ’ n e '0 8 . 4
J u ly ’ 08. l l j
J u ly ’ 0 8 ; U 4
July '0 8 . 3
J u ly ’ 0 8 . I Q
J u ly 0 8 . 2
J u ly ’ 0 8 . 3
J u ly '0 8 , 3
J u ly '0 8 . 2
Vug '0 8 . 2
J u l y ’0 8 . 212
F n e ’08 2
J u ly ’ 08, ItS e p t 5 1905
Q -J J u l y '0 8 , H -
* H id a n d a s k e d p r ic e s ; n o s a le s w e r e m a d e o n t ills d a y .
T J u ly la fo r n a t io n a l b a n k s a n d J u ly 16 f o r S t a te in s t it u t io n s .
1 N o p r ic e F r id a y :
la t e s t p r ic e tills w e e k ,
a D ue D ec. 31.
b D ue June.
<7 I n c l u d e s s p e c i a l d i v i d e n d o f 3 0 % p a i d D e c . I S 1 9 0 6 .
k C a p ita l In cre a se d fr o m 5 3 0 0 .0 0 0 ;
a s t o c k d i v i d e n d o f 3 3 1 - 3 % b e l l i * d e c l a r e d In p a r t p a y m e n t t h e r e f o r .
» C a p it a l a n d s u r p lu s t o b e In c r e a s e d
« D iv id e n d s a re p a id Q -J . w lt n e x t r a
p a y m e n ts Q -F .
$ A 3 o f d a te M ay 13, 1003.
.BOSTON STOGK EXCHANGE— Stock Record, Daily, Weekly and Nearly
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 u st 8 .
M onday
A u g u st 1 0 .
Tu esda y
A u gu st 1 1 .
W ednesday
A u g u st 1 2 .
Thursday
A u gu st 1 3 .
P ride 7
A v g u st 1 4 .
Sates
ot the
Heck
Shares
STOCKS
BOSTON STOCK
EXC H A N G E
Range Since
J a n . 1 190 8
Highest
R a ilr o a d s
881*
5 55 A t c h T o p & S a n t a F e - 1 0 0
6 7 ’ * F e b 11
94324
8 3 l2 M c h 3
D o p r e f ------------------------ 1 0 0
2 14
1 8 li2 J a n
68 B o s t o n & A l b a n y ----------1 0 0
132
133
134
161 B o s t o n E l e v a t e d _______ 1 0 0
125
F e b 17
2 10
210
210
2 OOI4 F e b 11
64 B o s t o n & L o w e l l _______ IOC
135
134
134
120
M ay28
195 B o s t o n & M a i n e _______ 1 0 0
150
130
J u ly ’08
F eb 1
D o p r e f ________________1 0 0
* _____ 3 0 0
♦
* _____ 3 0 0
* _____ 3 0 0
* ------- 3 00
300
295
295
284
J a n 10
B o s to n & P r o v id e n c e . 100
* _____
103, * _____
11
Last Sale 11
11
1034 * 1 0
9
A u g '0 8
*10
M en
B o sto n S u b u rb a n E l C o s .
* ___
* ___
55
65
55
55
55
* ------56
45
J a n 31
D o p r e f . . ------------------------*13
*101121., * 1 2
*12
____
12
m i
10
12
*101F e b 2b
B o s to n & W o r E le c C o s ._
*
5
0
*
6
0
5
3
*
5
0
53
63
Last
Sale
53
50
*50
53
J u l y ’ 08
F e b 27
D o p r e f ............................. ...
*150
*150
*150
Last Salt 150
120 J a n
*150
J u l y ’0 8
C h ic J u n e R y & U S Y . 100
_____ * 1 1 6
*115
*116
Last Salt 115U A u g ’08
102
*115
J a n 10
D o p r e L - . ....................1 0 0
I 6 3 I4 J u n e ’ OS
10314 M c h 6
C o n & M o n t , C la s s 4 . . 100
138
A p r 21
1 38
A p r ’08
C on n & P a ss R lv p r e f-1 0 0
255
*250
*248
255
* 2 4812 2 5 5
250
Last Salt 2 5 0
*246
244
J a n 14
J u n e ’OS
C o n n e c t ic u t R iv e r — 100
1 24
124
1 25
12412 1 2 4 b *1 24 1 2 1 2 5
125
1 25
*124
117
Jan
1
*1 24 1 2 1 25
2 8 F i t c h b u r g p r e f ________ 1 0 0
72
7212
72
*72
72
73
72
7212
* 7 1*2 7 21 6/
A p r 27
8 4 5 G a R y & E l e c t r i c _____ 1 0 0
L ast Sale 73
O c t ’ 07
D o p r e f ________________1 0 0
190
S e p ’0 7
M a i n e C e n t r a l ___________1 0 0
1012 1012 * 1 0
*10
11
11
11
*10
*10
11
8>4 J a n
30 M a s s E l e c t r i c C o s ---------1 0 0
49
47
*47
48
48
48
48
47
49
49
40
Jan
2
D o p r e f ........................ . 1 0 0
3 70
153* A p r 25
1538
A p r ’08
M e x i c a n C e n t r a l _______ 1 0 0
14212 14312 1 43 1- 14414 1 43 1- 144
142
142
1 42 1- 144
1 28 J a n
b
143
144
N Y N H & H a r t f o r d . 100
1 40 J n e 2 9
140 J u n e ’0 8
N o r t h e r n N H ................... 1 0 0
200
Apr 6
00
A p r ’ 08
N o r w ic h & W o r p r e f.1 0 0
1 86
1 85
185
186
+185
1 86
186
*185
1 75 J a n 11
*185
186
1 86
186
O l d C o l o n y ----------------------1 0 0
271- * 2 6 1 - 2 712834
*26
*26
27
27
* 2 6 1 - 2812 5 J a n 15
R u t l a n d p r e f ------------------- 1 0 0
80
SO
*77
*77
80
+ 77
80
*77
70
F e b 17
8 0 * * ' A u g ’ OS
S e a t t l e E l e c t r i c _________ 1 0 0
931* 931* * 9 3
931* 931*
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93b
883* J a n
2
9 3 !s 931*
D o p r e f _______________ 1 0 0
87
157
1591.1 157
1591* 1567* 159
1581* 1 58U
1571- 1 o S34 1 55 *
1 10*2 M c h 2
1*5*7*
4 .8 5 9 U n i o n P a c i f i c ___________ 1 0 0
* 8 2 3 4 8314 * 8 2 1 - 831), * 8 4 12 8 5
*821- 83
7834 A p r 4
Las i Salt
D o p r e f _______________ 1 0 0
J u l y ’0 8
1 50
J a n 13
156
V e r m o n t & M a s s -------- 1 0 0
J u ly ’ OS
8 5 1 - 8512 * 8 4 1 - 851?
85
85
8512 851?
76
86
86
Jan
2
86
86
192 W e s t E n d S t --------------------- 5 0
* ___
102
1 02
102
102
102
104
96 J a n
*102
2
1 02
102
1Q212 1021,
D o p r e f _________________ 5 0
44
138
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W o r e N a sh & K o c h . . 100
1 38
J u l y ’OS
M is c e lla n e o u s
2534
*25
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2 51- * 2 5
25b
25
25
13 J a n
3
2434
25
25
25
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9212 93
921- 9 2 b
9 21- 93
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77
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9214 9214
921 ,
D o p r e f ------------------------ 1 0 0
9212
3 46
53,
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634
515I4
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4
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516
51534
534
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249
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13412 1363.,
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2
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13315 133113512 I 3 7 I4 13334 134
9 ,8 2 4 A m e r S u g a r R e f i n --------- 1 0 0
1281o 1 2 8 b
128
129
130
100
F e b 18
129
129
129
1 29
129
129
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129
2 17
12134 1 221- 12212 12434 123
1244* 12.35* 125
99 J a n
1 221122
123
1 231, 1 0 ,0 7 2 A m e r T e l e p A T e l e g - _ 1 0 0
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16 J a n
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28
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92
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93
9334 9 4
93
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92
9234
D o p r e f ----------------------- 1 0 0
6 45
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3
Jan
334
*3
*3
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Ml
Last Sah 34
B o s t o n L a n d ----------------------10
A u g ’OS
*115
116
*115
116
*115
116
9 6 i2 J a n 11
1 16
*115
C u m b e r' T e le p & T e l . 100
16
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1434 J a n
16
1514 15U * 1 5
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16
153., * 1 5
153*
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534
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514
414 M c h 13
6 I4
534
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534
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100 E a s t B o s t o n L a n d ________
2147* 2 1 5
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21412 2 1 4 1 - 2 14
215
2 01
M c h 17
216
216
216
216
139 E d i s o n E l e c I l i u m ____1 0 0
14634 1463 j 1451* 1 4 6
14612 14612 1 46
146
111
Jan 2
1461- 1 4 6 b
144
1 45
141 G e n e r a l E l e c t r i c -----------1 0 0
5414 * 5 41 2 55M
5412 5 4154
49
55
55
M ch 23
54
54
5434
54
2 9 5 M a s s a c h u s e t t s G a s C o s lO O
8712 8 7 1 8712 871? *8712 8 8
8734 8 7 34
8712 877*
77
Jan
2
8712
D o p r e f _______________ 1 0 0
8712
325
210
210
210
*2 09 1 2 2 1 0
210
192
210
+205
A p r 16
*208
2 11
‘2 0 8
210
22 M e r g e n th a le r L i n o . . . 1 00
* 214
21?
21?
21?
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21* 214
1
M ch 2
212
234
214
9 7 3 M e x i c a n T e l e p h o n e . . 10
214
60
*55
*58
*58
60
60
60
40
60
M ch 6
+57
60 4 * 5 5
60
10 N E C o t t o n Y a r n ______ 1 0 0
8212 8 2 1 - * 8 0
*83
85
85
85
*80
75
*83
85
M c h 23
*83
D o p r e f ------------------------ 1 0 0
2
85
*112
113
112
113
1131.1 113
113
1 05 J a n
113
4
1 13
11312 1 1 2 1, 113
432 N E T e l e p h o n e -------------- 1 0 0
166
1 66
167
167
167
167
167
166
147 J a n
2
165
166b
166
166
164 P u l l m a n C o ______________ 1 0 0
*95* 10
*95* 10
*95*
10
*93* 10
9
L ast Sale 13*
A u g ’ OS
A p r 10
R e e c e B u t t o n - H o l e __ 10
104
1 0 4 1 - 1 041- 1 0 4 U 1 0 4 L
104
1041.1 104
104 104
10334 10334
8 8 I2 J a n
2
** 9 4 S w i f t & C o _______________ l o o
*21
*21
23
23
23
23
*21
+ 21
Last Sale !3
20
Jan
3
J u l y ’OS
T o r r ln g to n - C la s s A . . 25
*24
20
24
*24
26
*24
20
26
Last Sale 2 5
23
M ay22
J u l y ’0 8
Do
p r e f -------------------------- 2 5
* 11.1
li4 M cb2:
U n io n C o p L ’d & M ’ g . 25
J u ly ’08
1 3 5 1 - 135
135
13434 136
13412 1353, 1 3 5
135
135
135
136
1 1 4 i2 J a n
:
1.184 U n i t e d F r u i t ...................... l o o
57
57
573.1
5 715612 57
57
571.1
5 61 - 57
56
6634 4 ,0 0 8 U n S h o e M a c h C o r p . _ 2 5
38<2 J a n ■
28
281?
28
28
*28
28
28
28
*273.1 28>4
28
28
S 4 i* J a n
;
D o p r e f -------------------------- 25
180
463* 473*
47
473*
48
47U
463.1 477*
4014 473*
45
461, 2 3 ,7 4 5 U S S t e e l C o r p _________1 0 0
2o
Jan
:
10934 1O034 1097* 110»4
1097* 1097* 110
8 7 l2 J a n
:
IIO I 4 109 1- 1091- 1087* 1091g 1 ,3 8 4
D o p r e f ............................ 1 0 0
* 0 t2
7
*6
63,
634
7
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7
4
F eb ;
15 Y Y e s t T e l e p & T e l e g . . l 0 0
_____ 7 0
___
+68
70
*08
*68
....
*68
_____
59 J a n
73
D o p r e r ------------------------ 1 0 0
73
30
1978 F e b 18
W e s t i n g E l & M f g ____5 0
A p r ’0 8
347* F e b 19
D o p r e f -------------------------- 5 0
F e b ’0 8
M in in g
95*
83*
812
8191?
91*
97*
9
83*
H i F e b 21
8.34
91,1
9
1 5 .1 2 5 A d v e n t u r e C o n --------------2 5
39
38
39137
38
39
39
35
24
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3 8 1 , 39
39*4
35
8 90 A l l o u e z _____________________ 2 5
7 9 l2 8 II4
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791, 811.
82
831,1
82
831
45
F e b 19
7 6 i4
7912 5 5 ,2 5 3 A m a l g a m a t e d C o p p e r 1 0 0
20b
2812 2914
2812 2834
28
28
2 8t4
203* J a n 13
2812 281j>
281,
2 8 1 , 3 ,6 0 5 A m Z i n c L e a d i t S m _ _ 2 5
48
481
4 8 7* 4 8?s
49
49
493* 501*
28
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4 5 l2
467*
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21U 22
2214 2212
2214 2 3
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14 J a n
201*
207* 3 ,9 3 9 A r i z o n a C o m m e r c i a l . . 2 6
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.90
* .8 0
.81
.7 5
.8 5
.8 0
.40 F e b 14
* .6 0
.8 0
1 .2 0 0 A r n o l d _____________________ 2 5
Last Salt .5 0
A s h B e d ------------------------------- 2 5
A u g ’0 7
1434 1434
1334 15
1412 1 5
15
15
14
14
1412
1412 1*635 A t l a n t i c ------------------------- 2 5
8
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.7 0
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.6 0
l 4 A p r 29
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1 ,0 5 9 B i n g h a m C o n M i n & S 5 0
* . 5 0 ------* . 5 0 _____
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F e b 19
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1212
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1734 18*4
17
1712
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1814
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1 ,8 2 7 B o s A C o r b C o p A S I 1 M
28
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27
2834
2 7 ls 2 7 “s
28
29
273g 2834
1 5 i2 J a n
2
27
2712 1 3 ,8 6 5 B u t t e C o a l i t i o n ________ 1 5
1 2 8 1 , 12734 1273,
122
1251, 1 2 1 1 , 125
128
1 2 S1.| 1 2 8
122
93
F e b 20
1 23
1 ,2 9 1 C a l u m e t A A r i z o n a _____ 1 0
690
7 00
690
690
690
695
605
695
685
6 85
M ch o
6 70
075
45 C a l u m e t A H e c l a _______ 25 r 5 6 5
31
3U
32
33
3012 31
3114 331 ;
31*4 3134
21
F e b 10
3012
4 ,4 1 2 C e n t e n n i a l -------------------------- 2 5
31
.4 3
.4 5
.4 5
.4 5
.4 5
.4 5
.4 5
.4 5
.4 3
.4 5
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M ch 6
1
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4 ,6 4 0 C o n s M e r c u r G o l d _____
7 8 1 , 7934
7 9 1 , 8034
791, 801,
80
81>4
651* F e b 18
78
791
77U
9 .1 2 5 C o p p e r R a n g e C o n C o . 1 0 0
78
107g 107g
103.1 11
10->* 11
* 10l 2 11
1 0 l2 11
7 Jan
3
1034
1034
7 7 5 D a l y - W e s t -------------------------- 2 0
47% M a y
t a c t Salt 51
D o m i n i o n C o a l ________ 1 0 0
J u l y ’0 8
U4l2 A p r 22
L e st Salt 983* J u l y '0 8
D o p r e f ----------- ------------ 1 0 0
2lg
214
23s
21o
23*
21,
.99
M ch 0
23s
23S
2*4
238
2
2
1 ,6 4 0 E l m R i v e r -------------------------- 12
13
13
13
13
1312 1334
6 l 2 A p r 22
I.H4 1334
13
13
1212 1 ,1 3 0 F r a n k l i n -------------------------- 2 5
12
105
1 05
108
1 03
10812 10812 * 1 0 5
110
80
Jan
1 05
105
1 05
1 05
271 G r a n b y C o n s o l i d a t e d . l o o
1233 125*
117g 12
12
123s
I 2 I4 121,
67* J a n
115* 12
111*
115* 1 1 ,1 1 4 G r e e n e - C a n a n e a _______2 0
15* J ’ l y 2
Last Sale 15*
G u a n a j u a t o C o n s o l ___
5
J u ly ’08
227*
22
23
221g 2212
23
1734 F e b 17
22
221,
2312
2 3 i8
211,
2 H 2 2*357 I s l e R o y a l e ( C o p p e r ) . 2 5
1412 15
15lg
15
151,
15
15
1412 1 5
12>4 J a n
1 6 l8
1 4 i2
143, 1 ,8 9 2 L a S a l l e C o p p e r ________ 2 5
734
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7
7
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71*
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214 M c h
7U
71g
7'S
6>2
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* .5 0
.60
,2 5
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* .6 0
.6 0
.61
2 0 0 M a y f l o w e r -------------------------- 2 5
.5 1
*5*
"*5*18
’ *5*
5
5
*5*
5
43* A u g 1
5
5
5
1 ,9 3 0 M e x i c o C o n s M A S . . 10
5
131
13
1334
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131* 133i
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1212
18
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F e b 25
M
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c
h
i
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a
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-----------------------------2
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1212 1 ,1 3 6
13*2
68
68
70
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69
. 70
6914
6684
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45
F e b 10
6634
6712 68
6 2 8 M o h a w k ---------------------------- 2 5
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.8 5
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* .7 7
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J ’n e i i
.80
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153g 16
147g 15
16*3 17
1|34
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2
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147* 4 ,5 4 9 N e v a d a C o n s o l i d a t e d .
5
81*4 84
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825* 8312
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2 2 ,6 3 4 N o r t h B u t t e ______________15
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1
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1
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.90
1
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2 0 0 O l d C o l o n y ------------------------2 5
42
4034 4 2
421,
41
3912
3934 4 ,5 5 2 O l d D o m i n i o n . _________2 5
3912 405*
405S 41
4U 2
28
Jan
2
,
_ _ 1 16
112
116
111
110
1 16
1 16
*113
77
F e b 10
116
111
27 O s c e o l a ____________________ 2 5
263., 2712
29
29*4 *2834 2 9 ts
2S12 2 9
26
28
1 0 i2 J a n 11
27
261
3 .4 3 9 P a r r o t ( S i l v e r A C o p p ) 10
1
* .5 0
* .5 0
1
Last Salt .5 0
* .5 0
ljj M c h 11
1
* .5 0
1
J u l y ’08
P h o e n ix C o n s o lid a t e d 25
98
99
07
99
96
9312
95
95
99
77
F e b 19
97
97
97
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47*
41,
412
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4 7s
412
2
M ch 26
414
414
41*
4 0 5 R h o d e I s l a n d ____________ 2 5
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412
2
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21.1
214
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214
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3 40 S a n t a F e ( G o l d A C o p ) 10
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15
157g I 6 I4
161j
1534 157*
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16
«34 F e b 19
I 6 I4 163s
1514 5 ,7 2 0 S h a n n o n __________________ 1 0
241, 25
2412
2412 2 5
24
241, 25
241,
24
241 ,
2412 2 ,9 1 5 S u p e r i o r ________________
14
Apr 3
25
77
75
73
74
74
75
7712
76
74
75
75
74
586 T a m a r a c k ---------------------------2 5
56
M c h 20
171 ,
22
24
2312 2 5
1912 2312
1912 21
191 , 2 11 ,
191 4 1 ,6 71 T r i n i t y _____________________ 2 5
121* F e b 19
103.,
1334 1514
12
121.,
10
121, 14
1 2 l4
12
l i r . 8 ,1 1 5 U n i t e d C o p p e r ------------- 1 0 0
45* M c h 24
12*4
2134
Last Sale
F e b ’0 8
2334 A p r 16
D o p r e f _______________ 1 0 0
2614
2612 2634
261, 28
2 6 1 , 27
2634 27*4
2 6 i4 6*442 U n i t e d S t a t e s C o a l A O l l 2 5
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27*4
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M ch31
4 4 3 , 4 4 !4
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4412
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457*
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4534
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53.,
4512 4512
453,1 4 6
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4512
4 5 i2 1 ,0 2 5
37
F e b 10
D o p r e f -------------------------- 5 0
4 8 3 , 4834
49
50
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475* 4812
4612 4 8 '2
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2 9 l2 J a n
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437* 451*
45
46
443, 46
45
4614
431
43
45
9 .0 4 7 U t a h C o p p e r C o __ __
10
287* M a y 8
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614
51,
534
57g
6
6
57*
6
6
512
61,
780 V i c t o r i a .................................... 2 5
2 l2 A p r 16
Last Sale 1.061, J u l y ’07
W a s h i n g t o n ----------- . . . . 2 5
67*
67*
712
7
7
*7
712 ■_____
7
714
7
714
* 4 9 5 W i n o n a ____________________ 2 5
4 i2 J a n 2
1 45
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14214 1 4 4 1 , 1441?
*140
143
143
145
145
3
143
155 W o l v e r i n e _________________ 2 5
1 1 5 i2 J a n
2
214
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21.,
23*
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21*
2b
2
21*
9 80 W y a n d o t
_________________2 5
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M ay25
887*
89>*
89
89*4 8914
*94
9412 !)•»•
94
94
*212
212
212
212
212
132
133
*132
*132
133
2 10
210
*209
*209
210
13512
13614 1 3 5 1 - 1 36 U
136
887* *8914
945* *9 41 2
*21312 14
132
132
* _____
210
1351- 1 35
e Before pay’i o: aszess’ u called In 1007.
8 91 - * 8 8
95
*94
214
2 14
132
132
210
*208
1 35
135
* isid and asked prices,
d New stock,
Range lor P revious i tai
(1907>
e Ass’ t paid,
rights.
i>9>4 A u g
9412 A u g 10
2 14
A u g 13
1 40
J a n 21
2101* A p r lb
1 40
J a n 28
1 56
J a n 21
300
J 'n c l b
13
M e n 27
56
M a y 19
17
J a n 26
6012 J a n lb
150
J ’u e l f
I I 6I4 A u g L
1 05
M en 138
A p r 21
253
A p r 21
131
A p r 21
79
J a n 27
I 2 i2 J a n
t
6 0 i2 J a n
*
19
M ch 3i
14414 A u g 11
146
Apr 1
205
F e b 2b
1 88
Apr 1
29
Apr
8 2 l2 J 'n e 3 0
95
F eb
I 6 UI4 A u g lb
847* M a y 2
1 50
J ’ li e
8734 M c h 3 l
1 05
Apr
1 40
M ch3b
257* J ’ l y 2
9314 J ’ l y 2
8 i2 M a y l
21
M ayl
13714 A u g 12
130
A u g It
1 25
A u g 13
2612 A u g 11
94
Aug
312 J n o
115
J ’ l y 24
I 8 I4 A p r 1
6
M a y l8
2 17
J ’ l y 23
1 48
J ’ l y 22
6812 M a y l b
88
J ’ l y 31
210
A u g lb
234 A u g 13
6412 J ’ l y 28
84
J ’ l y 27
119 J a n 20
170
J ’ l y 27
10
F e b 21
10812 J ’ l y 31
23
Jne H
25
J a n 14
2 i 2 J a n 28
1 48
J ’ l y 14
6414 A u g 6
V8 l 2 1’ e b 26
48
/V u g lb
111J4 A u g
8
J a n 31
73
A u g 14
2 7 i2 A p r 11
347* F e b 1J
97*
40*4
8312
30
5014
0
2312
.9 0
A u g 13
Aug "
Aug
J ’n u 2
Aug
J a n 16
Aug 3
Aug 7
10*4 M a y lO
634 J a n 20
,7412 F e b 27
17
Jan 2
1 9U A u g
30
Aug 4
130
Aug 1
700
J a n 16
3 3 1 - A u g 11
.4 5
J 'U u 9
8U 2 A u g 6
11*4 J ’ l y 31
5 1 i2 M a y
983* J ’ l y 17
25* J ’ l y 2 8
1434 A u g _
1 10
J ’ l y 30
1318 A u g 3
27* J a n 22
26*4 J a i l 27
17*4 J a n 14
8
Aug 7
.7 5
J ’l y 30
8 J a n 18
H I 4 J ' l y 31
71
J ’ l y 31
l 3* J a n 24
17
Aug 8
863* J ’ l y 3 i
1
J ’ l y 31
43*4 A u g 5
117
Aug 3
297* J ’ l y 31
1*4 J a n 25
100
Aug 1
5
J ’ly 28
23* J a n 20
1612 A u g 4
2534 A u g 6
79
Aug 5
25
A u g 10
1514 A u g 10
26
Jan
3
28
A u g 10
445* A u g 7
4b I f j ’ l y 25
50
Aug 7
4 b U A u g 10
C34 J ’ l y 27
z 7 i2A u g 7
145
j ’ l y 81
234 A u g 3
b K x-stock
671- N o v
7934 N o v
180
D ec
11734 N o v
200
J 'n t
129
N ov
150
O ct
285
O ct
8
J ’ ly
Aut
50
N ov
16
N ov
55
D ec
128
9934 O c t
170
O ct
152
J ’ ly
244
D ec
116
N ov
6 9 0 D e c73 “ O c t
190
Aug
D ec
7
37
O ct
14
N ov
1 2 7 0 N ov
145
D ec
2 05
N ov
176
O ct
26
N ov
82
Aug
1334 N o v
lb 0 i2 O c t
783j N o v
1451* N o v
74
D ec
94
N ov
140
Aut
10
O ct
7 2 i2 N o v
3 i2 N o v
9 i2 O c t
93
D ec105
D ec
8 9 l4 N o v
12*4 N o v
69
O ct
3
M ch
93W N o v
1212 O c t
31* O c t
1 85
N ov
91
O ct
43
O ct
75
N ov
185
N ov
1»4 D e c
46
J ’n e
80
O ct
16
N ov
137
N ov
0
N ov
76i2 N ov
20 J ’ne
24l2 N ov
1
1 0 1 l2
3b
23»8
22
O
O
O
N
O
ct
ct
ct
ov
ct
79i2 N ov
4 N ov
50
N ov
26U N o v
1070 Jan
1013* J a n
240
F eb
152
Jan
Jun
2 31
170
M ay
Jan
1 6o
3 01
F eb
F eb
15
Jan
05
28*4 J a n
80
Jan
Jan
160
Jan
120
188
F eb
156
M en
Jan
280
Jan
135
M en
114
M ch
88
Jan
198
2 0 i2 J a n
7B 2 Jan
2534 J a n
1 9 0 i2 J a n
160 “ J a n
226
F eb
20014 J a n
45
Jan
94
Jan
103
Jan
1 821- J a n
93
Jan
170
Jan
Jan
95
110
M ch
Jan
147
26
95
Jan
F eb
1434 Jan
33 Jan
13714 Feb
1313.| Jan
134l2 Jan
3612 Jan
102 i2 Jan
4 Jan
115 Jan
25 Feb
914 Jan
230 Jail
162 Jan
6638 Jan
86i2 Apr
215 Mch
434 Jan
75 J’ly
90
126
182
11
113
22h
2 7 i2
6 '*
120
69
29
SO**
10734
9
82
781*
Jan
Jan
Jan
Jan
Jan
.
Jan
J ’ly
Jan
D eo
Jan
Jan
Jan
Jan
Jan
Jan
Jan
May
80 Feb
5* N o v
20
O ct
421* D e c
19
N ov
26
O ot
234 O c t
734 O c t
■35 S e p
>2 M a y
6 i2 O c t
41* D e c
.3 5
S ep
83* N o v
7414 J a n
1 21
Jan
53
Jan
73
F eb
IS** J a n
281- M a y
2
Jan
112 J a n
22
F eb
37
Jan
.80
Jan
33*4 J a n
70
0i2 Feb
39i* Jan
10 O ct
89 O ct
198 F eb
535 O ct 1000 Feb
16 O ct
47 F eb
.62 Jan
.25 O ct
105 Jan
44*4 O ct
20i 2 Jan
7*2 D ec
70i2 Mch
40 O ct
85 N ov 114 Jan
41 * Jan
s4 N o v
2914 M ch
6 O ct
151 Feb.
65 O ct
175* A p r
Si4 O ct
&i4 Jan
2 D ec
36>2 Jan
I lls O ct
30 F e b
8 O ct
914 Jan
2** N ov
1*4 Jan
.40 N o v
15U Jan
53i N o v
24i2
J an
6«4 O ct
U6 i* Jan
37 O ct
3 1 - M ay
1
N ov 201- Jan
534 N o v
120 Jan
SO O ct
2i2 Jan
12 S e o
63 F eb
18 O ct
181 F eb
71 O ct
35 Jan
83a O ct
c3 Jan
l2 D ec
148 F eb
70 O ct
«12J4 Jan
2 O ct
7i2 Jan
112 N o v
243* Jan
7*8 O ct
61
O ot
93* NOV
7
22
D eo
O ct
71- N ov
2434 O c t
277* O c t
2 6 lf O c t
3l2 Oct
1 May
r2l- Nov
93 Oct
.1 0
dJv/i Hx-rlght*.
N ov
170 Jan
42V, Jan
77 >4 M c h
91
M ay
13*4 Jan
70 Jan
49
Jan
79
Jan
U *»
3 114
198
8**
F eb
M ch
Jan
F eb
Jan
a Ex-dlwand
J U J l* l # S
W ee U s
P a n y e or
L a s t S a le
P r ic e
tY id a y
A u g u st 14
B O S T O N ST O C K K X C H ’G E
' w k k k e n d in g A u g u s t 14
Low
A m B e l l T e l e p h o n e 4 s . . . . 1 9 0 8 J -J
A m ' l e l e i ' ito T e l c o l l t r 4 8 .1 9 1 2 9 J-J
, C o n v e r t i b l e 4 s ------------ ----- 19Ht| M - S
A m v\ l i t T a p e r 1 s t s 1 5 s g 1 9 1 9 J-J
A t e n i o o & S F e g e n g 4 s . . 1 9 9 5 A -O
i
A o m s i m e u t g 4 s -----J ’ l y 1 9 9 o N o v
M -N
S t a m p e d .................... J ’ l y 1 9 9
B o s t o n E l e c t T i g h t 1 s t t is . 1 9 0 b M S
C o n s o l 5 s ................................. 19124 M -S
B o s t o n <to C o w e l l 4 S ............. 1 9 1 0 J-J
B o s t o n ce M a i n e 4 4 s ........... 1 9 4 4 J-J
B o s t o n T e r m i n a l 1 s t 3 % » . 1 9 4 7 F -A
B u r tto A l o l t i v e x O s ............. 1 9 1 b J-J
N o u . e x e m p t O s .................... 1 9 1 b J-J
S i n k i n g lu n t l 4 8 ..................1 9 1 0 J-J
B u t t e <to B o s t o n 1 s t O s ------ 1 9 1 7 A -O
C e d a r l t a p (to M o i t 1 s t 7 s . 1 9 1 0 M -N
2 d 7 s ............................................1 9 9 9 J - l )
C e n t V e r m t 1 st g 4 s ..A l a y l 9 2 0 y -K
0 B (to w I o w a D i v 1 s t B s . 1 9 1 9 A - O
I o w a 11 i v 1 s t 4 s .................. 1 9 1 9 A - O
D e b e n t u r e 5 s ........................ 1 9 1 3 M -N
D e n v e r E x t e n 4 s ................1 9 2 3 F -A
N e b r a s k a E x t e n 4 s .......... 1 9 2 7 M-N
B & b W s 1 4 s .......................1 9 2 1 m - s
I l l i n o i s J u v 3 * 2 8 .................. 1 9 4 9 J-J
J o i n t b o n d s S ee t i t N o r t h e r n
O h i o j e l l y A, S t k Y d s 6 s . 1 9 1 6 J-J
C o l l t r u s t r e t u m lin g g 4 s l 9 4 9 A -O
C h M i l .to b t B D u b D G s . . 1 9 2 0 J - J
C h M <to S t T W l s V d i v 0 8 1 9 2 0 J - J
C h ic< to N o M i c h 1 s t g u 5 s . 1 9 3 1 iYI-N
C h i c A VY M i c h g e n 6 s ____1 9 2 1 J -D
C o n c o r d & M o n t c o n s 4 8 . . 1 9 2 0 J-D
C o n n (to P u s s I t 1 s t g 4 s . . . 1 9 4 3 A - O
C u r r e n t R i v e r 1 s t 5 s ........... 1 9 2 7 A - O
D e t C r l t a p (to \V 1 s t 4 s . . . 1 9 4 0 A - O
D o m i n i o n C o a l 1 s t s l 6 s . . 1 9 4 0 M-N
F i t c h b u r g 6 s .............................. 1 9 0 b M -N
4 s ....................................................1 9 1 5 M-S
4 s ................................................... 1 9 2 7 M -S
F r e m t E l k A A l o V 1 s t O s . . 1 9 3 3 A -O
U n s t a m p e d 1 s t O s ..............1 9 3 3 A-O
G t N o t C B (to
c o l l l i 4 s 1 9 2 1 J-J
R e g i s t e r e d 4 s ....... ..................1 9 2 1 Q-J
N orte — B u y e r pays
405
Boston Bond Record.
A ug. 15 1908.J
H ig h
100 J ’ u e’OF
87%
83%
«S %
90
*;78% M ar’ 08
1]97J.i A u g ’ 08
89 7b 89 J ’l y ’O*
8648 J ’ n e ’07
8 8 % S a le
8 9 % S a le
89%
111’) ** F e b ’ 0 4
lu l
S e p ’ 00
lo t
1 17 3 118%
79*
J ’l y ’ o>
112 % J a n ’03
in i
O c t ’ 07
102
S e p ’ 05
9 8 % A p r Os
100
J ’n o ’Ol
117
J ’n e ’08
1 1 1 Js J ’ l y ’ 07
79
A u g ’o b
11103 O c t ’ 0 7
9 8 >2
9 8 >2
100
A p r ’08
9 8 * 8 J O’ ’ 0 8
1 ) '% A p r ’ 0 8
9 7 *2 M a y ’ O'
fib 7 % A u g ’ O
A u g ’ OS
1 0 2 k!
J ’ l y *n8
J ’ly ’ hb
E o n ’05
99
98
101
lu l
D e c ’07
112k, J a n ’03
104
N o v ’ OC
8 i % M ay’08
90
F e b ’08
98
A p r ’O
1 0 3 >b A p t ’ 0 5
90
A p r ’ O.1 2 s »« A p t ’ 0 8
140
A n r ’ 05
90
90
9 5 5s 0 5 %
96%
95 %
0 u % ...........
83
n o .* . n s
BOSTON STOCK E X O H ’SK
P anye
n in e s
J an u a ry
Low
W
eek
E
n d in g
au g u st
P anye
S in c e
J an u a ry 1
W eek’s
P a n y e or
I/O St . s a l '
P r ic e
h r H im ,
A u g u s t 14
14
Low High
H ig h
1-9
I l l i n o i s S t e e l d e b e n 5 s ____1 9 1 0 j . j
N o n - c o n v e r t d e o e n 6 s . ..1 9 1 3 A -O
l a F a l l s (to S i o u x C i s t 7 s . . 1 9 1 7 A - O
8 0 7h 9 0
<!7834 1,7 8% k a l i C C l i u A S p r 1 s t 5 s . . . 192.5 a -Q
K a n C F t S (to C u l t 1 s t 7 s . . 1 9 0 8 j -D
9 0 l8 9 9 l4
K a n C F t S c o t t (to M O s ____1 9 2 8 M -N
85
89
K a n C At (to B g e n 4 s ..............1 9 3 4 M - S
A s s e n t e d i n c o m e 5 s ......... 1 9 3 4 M - S
K a n C <to 5 t K y (to B r 1 s t 6 8 1 9 2 9 A - O
M a in e C e n t c o n s 1 s t 7 s . . . 1 9 1 2 A -O
C o n s 1 s t 4 s ..............................1 9 1 2 A - O
M a r ti H o u g l l & O u t i . s t O s . 1 9 2 5 A - O
M e x i c a n C e n t r a l c o n s 4 s . .1 9 1 1 J - j
l s t c o n a i n c 3 s ..............J a n 1 9 3 9 . f l y
2 d c o n s m o 3 s ..............J a n 1 9 3 9 J ’ ly
97
9 8 k.
M i c h T e l e p l s t 5 s .....................1 9 1 7 j . j
M m u e O e n E le c c o n g 6 s 1 9 2 9 J .J
1 17
117
N e w E n g C o t Y a r n O s .. . .1 9 2 9 F -A
7 0 * " " 8*0 % N e w E n g T e l e p h O s ...............1 9 0 8 A - O
6 s ....................................................1 9 1 5 A - O
5 s ................................................ . . 1 9 1 o A - O
9034 U00 V
N o w E n g la n d c o n s g 5 s ... 194 5 J - J
m o lo o
B o s t o n T e r m 1 s t 4 s ......... 1 9 3 9 A - O
98*s 98 k
98% 98% N Y Nr H & I t c o n d e b 3 % s i 9 5 t ) J - J
O ld C o l o n y g o l d 4 s .................1 9 2 4 F - A
*80** 1*1*89* G r e g K y (to S l a v c o n g 4 s . . 1 9 4 0 J - D
u r e g b l l B i n e 1 s t g O s ......... 1 9 2 2 F - A
99 1 0 3 1, i t e p u b V a l l e y 1 s t s 1 O s . . . 1 9 1 9 J - J
I t n t i a n d 1 s t c o n g e n 1 % s . l 'J 4 1 J . J
85
89
l t u l l a u d - C a u a d i a n 1 s t 4 s 1 94 9 J - J
118
118
S a v a n n a h E le c 1 st c o n s 6 s. 1 9 5 2 J -J
95** *9*9" S e a t t l e E l e c 1 s t g 6 s ........... 1 9 3 0 F -A
F e r r e H a u t e E l e e a o s ------ 1 9 2 9 / -J
97 101
l ' o r r i u g t o n 1 s t g 5 s .............. 1 9 1 b 11-S
U n i o n P a c U R (to 1 g r g 4 a . 1 9 4 1 J - J
v o - y e a r c o n v 4 s ..................... 1 9 2 7 J - J
U n i t e d F r u l t c o n v g e n o « . 1 9 1 1 v t-S
T,
U S S t e e l C o r p 1 0 - b 0 y r 5 s . 1 9 0 3 .Vl-N
90
W e s t E n d S t r e e t K y 4 s ____ 1 9 1 5 F -A
G o l d 4 ^ 2 8 ............................................... 1 9 1 4 M -S
G o l d d e o e n t u r e 4 s ............... 1 9 1 0 M -N
90
G o l d 4 8 ....................................................1 9 1 7 F - A
1 2 8 >2
W e s t e r n T e l e p l i ifc T e l 5 s . 1 9 3 2 J - J
W is c o u s in C e n t 1 st g e n 4 s l9 4 9 J - J
9 2 % I I 97
W is c o n s in V a lle y 1 s t 7 s .. 1 9 0 9 J -J
92
9 0 7(
PH's m o
78 ki 8S%
97%
’0 8
OP
.1 7
117
90
90
m o
lu l
109% 110%
•l
98%
8b
;io
i,m %
j 1 o % 1 ,15 %
102 >2 A u g ’ 04
98
100
93
100
98
F C b ’0 8
98
100
100% Jan ’07
79% 88
98%
98%
1^90% T ,9 b %
Lo3
103
1188
A u g 08
9 8 % J ’ly A 1 f9 0 % J ’ l y '0 8
103
J ’l y ' '
102
A u g ’o7
107 % N o v ’ 06
102
M a i’ 02
9 8 % M a y ’0 0
101 % T’ l y ’ 0 8
97
A p r’O
9 9 % N o v 'O
1101% J ’ l y ’ 0 8
1194%
1195%
110
J a n ’ U8
U lo O 1|10<‘ %
90% F e b ’08
95
N’ o v ’ O
1 0 2 % J a n '0 0
9 9 *2 A l a y ’ O'"
95
90
1194% S e p ’ 0 5
1 0 9 % A u g ’ OS
82
a c c r u e d in t e r e s t in a d d i t io n t o t h e p u r c h a s e p r ic e to r M l B o s t o n B o n d s .
J ’ly
98%
99
117
A p r ’O36
M a r’ o 101
J ’ne’08
115 %
1 1 5 *2 1 1 5 *4
89
J ’ n e ’ Ob
88
J ’ l y ’08
9 .i
> la y ’ i'7
1 1 3 % N o v ’ OO
m l % 8ep ■
115
J ’n e’08
1jS5
J ’n e ’08
i; 1 0
A p r h i
ll 1 5 % A p r '0 8
• N o p r ic e F r i d a y ; la t e s t b id a n d a s k e d .
100% 1 01 %
'lOO %
-4 %
110
1]80
90%
*1101%
1 1 9 5%
117
1100%
90%
1i F l a t p r i c e .
Philadelphia and Baltimore Stock E xohanges-S txk Record. Daily, Weekly, Yearly
S h a re
A u gu st 8
1 r ic e * — N ot
,*t(yn<» au
A u g u st 10
7 VPSK a y
A u g u st 1 1
'o r C e n tu m
iv p. .nentta u
A u gu st 14
rrcU a y
/ a u r s a a ti
A u g u s t 13
A C T IV E
S a te s
o / the
W eek
sh a r e s
P r ic e s
R a n g e S in c e
Jan 1 ly o s
STO C JLS
( t o r P o n d s a n d I n a c t iv e
S to c k s see O eiotol
H ig h est
lin .il i i n o r e
10
*13
«
22%
71 "
*93
*7%
*13%
23
22%
71
*93
•7
13
11
7 %
13%
12
.........
13
n
23
•*9*3
•7
*12%
*10%
....
♦ 93
. .....
......... * ___
7 %
.........
............... .........
1 1%
' l o k i.
*20
*70
*93
*7%
♦12%
10%
1 5 C o n . G a s E l . E . (to T o w . 1 0 0
13
Do
p r e t ......................... 1 0 0
.......... N o r t h e r n C e n t r a l ............ 5 0
........... S e a b o a r d ( n e w ) ..................... 1 0 0
1 25
Do
2 d p r e f ................. 1 0 0
3 o o U n i t e d U y Jb E l e c t r i c . . 5 0
25
72%
03%
107,
7%
1 3 -4
20
00
80
4
lb
10
J a n 15
M ar2 5
Jau 2
F e l l 12
F e b lb
. Ia n a
27%
76
93
7%
13%
11%
M ayl
Apr 2
Aug
J ’ly 2
J ’ly 2
A la r.:
L a n g e l o r J -r e v io u
Y e a r ( l 'J 0 7 j
Low est
33 %
80
78%
10
24
8%
Jan
M aj
N ov
N ov
D ec
O ct
H ig h e s t
35
85
97
23%
48
15
Jan
ja u
Jan
Jan
Jan
J ’ne
Philadelphia
44%
36
10
*6%
*28
■*7
01
1%
62%
*36
0B *m
62%
*4 2 j4
4 S 7«
44%
36%
m
7%
29
7%
91
07%
1%
63
ay
1 4 a4
64
4 2%
48%
44%
30%
m %
45
37
10%
7
•27%
7
M l’ s
U tK
i%
7
91
67%
1%
6 3 *4
38%
38%
10
10
1 4%
14%
li3 70 6 4 %
4 2 Sa 4 2 %
4 3% 0 43%
49% 60
8a %
88
46
*45% 45%
36%
3 0 Si
10%
>9%
ill
7
6
♦6
*
2 8 % * ........... 2 8 %
7
7
7 S7
90
01
i‘ U 78 9 1
67%
67
06
66
1%
l l%4
6 <2 ls 0 3
6 2 l **ie 6 3
"3 8
39
39
9 7s 9 l 3 io
9 l 3 io 91% ,
14%
14%
16 %
14%
6 3 3i0 64^0
<H110
4 3 % 4 6 as
•43% 44
4 3 % 43*6,0
49
49
49 % 5o%
88
88 %
88%
87%
l'U IC A D K M 'lllA
I n a c tiv e S lo c k s
A lle g h e n y V a l p r e t ....5 0
A m e r i c a n C e m e n t ......... 5 0
A m o r P i p e M f g ........... 1 0 0
B e il T e le p h o n e ( P a ) .100
C a m b r i a I r o n .....................6 0
C e n tra l C oal & C o k e . 100
C o n s o l T r a c o t N J ...1 0 0
D i a m o n d S t a t e S t e e l . . 10
P r e f e r r e d ......................... 1 0
E a s t o n C o n E l e c t r i c 6 .5 0
E l e c S t o r a g e B u t t ____1 0 0
P r e f e r r e d ....................... 1 0 0
F t W a y n e & W V ......... 1 0 0
G e r m a n t o w n P a s s ......... 6 0
I n d i a n a p o l i s S t ............. 1 0 0
I n d i a n a U n i o n T r ------ 1 0 0
I n s u r a n c e C o o f N A . . 10
I n t o r S m P o w & C b e iu .5 0
K e y s t o n o T e le p h o n e ..5 0
P r e f e r r e d ......................... 6 0
K e y s t o n o W a t c h C a s e .lO O
L i t B r o t h e r s ....................... 1 0
L i t t l e S c h u y l k i l l ..............5 0
M i n e h i l l (to S c h u y i H . . 6 0
N H a v o u I r o n <to S t e o l . 5
N o r t h e r n C o n t r a l ........... 5 0
N o r th P e n n s y lv a n ia ..50
P e n n s y l v a n i a S a l t ......... 5 0
P e n n s y lv a n ia S io e C .1 0 0
P r o t o r r e d .......................1 9 0
P h lla C o (P it t s ) p r e f ...5 0
P h il G e rm a n & N o r r is .5 0
P l u l a T r a c t i o n ...................5 0
l t a i l w u y s G e n e r a l ......... 1 0
S u s q u e u I r o n Jfc S t e e l . . 5
T i d e w a t e r S t e e l ..............1 0
P r ,m e r r e d ..........................10
T o n o p a h M in in g o f N e v l
U n i o n T r o f I n d ........... 1 0 0
U n it e d N J U K « fc C ..1 0 0
U n it T r a o P it t s p r e f ..5 0
W a r w ic k I r o n * S t e e l.10
W e s t J e r s e y & S e a S li .6 0
W e s t m o r e la n d C o a L ...5 0
W i l k e s G a s (to E l e c . . 1 0 0
46
36%
10
0
4 5% 46
36
3b%
10
10
7
•6
2 7% 2 8
7
7
91
90
C i ;b
67%
i
1^4
6 2 a4 63*1#
33
*38
9 lB ie 9 15l o
14^
13
6 3 % G l7i0
......... .. . . . . .
44
*43
46
49
88%
88
35%
10
*0
*20
193
5 ,9 9 9
255
120
55
495
,7 7
1 9 ,7 1 0
1 ,4 6 0
2 ,4 0 0
15
l,2 o 3
0 ,2 b 2
5 4 ,1 7 3
35
1 ,1 0 8
2 ,2 0 8
3 ,6 2 9
...........
*0% 2S
91
91
1% 1
9%
13%
7
7
07%
00
62%
62
♦3b
9 l 3 io
1 3 -s
‘J lt’ xo
39
035 ib
•42% *4 3%
4 8 ‘a 4 9 %
8 7 % 8 7 7,
29
♦27
P i l l L A D C I . L ’ 111 A
P id
30
10
H onda
A l V a l E e x t 7 s 1 9 1 0 A -O
A lt it o C V K le c l % s’ 3 3 .F -A
A m l t y s c o u v S s 1 9 1 1 . J -D
A t l C it y 1 s t o s g ’ 1 9 . M -N
B a lls T o r 1 s t 5 s 1 9 2 6 . J -D
B e r g & E l l r w l s t O s ’ 2 1 J -J
B e l l i l o S t e e l Os 1 9 9 8 . c j - F
C h o c (to M o 1 s t 5 s 1 9 4 9 J -J
C h O k ifc G g c u o s T 9 J -J
C o l S t U y 1 st c o u 6 s 1932
C o u T r a o o t N J 1 st 5 s .’33
E (to A 1 s t M Os 1 9 2 0 M - N
E le c & l ’e o T r stk tr c tfs
K q It G a s -L 1 s t g 5 s 1 9 2 8
H (to B T o p c o n 5 s ’ 2 5 A - O
I n d ia n a p o lis U y 4 s . 1 9 3 3
In te rsta te 4s 194 3 ..F -A
’ 1%
C e h t g U N a v 4 % s ’ 1 4 . Q -.)
l i l t s 4 s g ......... 1 9 1 4 . CJ-F
G e n M 4 % s g .l9 2 4 .< J -F
C e l l V C 1 s t 5 s g ’ 3 3 . .J - J
C e ll V e x t 4 s 1 s t 1 9 4 8 . J -D
2 d 7 s 1 9 1 0 .....................M - S
C o n s o l 6 s 1 9 2 3 ......... J - D
A n n u i t y O s ...................J - D
93
G e n c o n s 4 s 2 0 0 3 .M -N
C e ll V T r a il c o n 4 s ’ 3 5 J -D
100
N e w C o u G a s 5 s 1 9 4 8 J -D
N ew a rk P ass con 5s 1930
N Y P h & N o 1 s t 4 s ’ 3 9 J -J
97
I n c o m o 4 s 1 9 3 9 ...M -N
N o O h i o T r a c c o u S s ’ l 'J .J -J
P e n n g e n Os r 1 9 1 0 . . V u r
C on sol 5s r 1 91 9. ..V a r
4 8b
* 7fe
P e n n <fc M d S t e e l c o n 6 s
P a (to N Y C a n 5 s ’ 3 9 . A - O
C o u 4 s 1 9 3 9 ................A - O
P e u u S t e e l 1 s t 5 s *17 M - N
7% * * 7 %
P e o p le ’s T r t r c e r t s 4 s ’43
P C o ls t ( f c c o l t r 5 h’ 4 9 M - S
C ou J fc c o l t r o s 1 9 0 1 M - N
45
P lu l E le c g o ld t r u s t c t fs
7%
7%
T r u s t c e r t i l s 4 s ...........
50
..........
P & E g e n M 5 g ’ 2 0 . A -O
G en M 4 s g l9 2 0 ..A (fe O
P id
A sk
4 3% D ec
51
Jan
46
A u g 11
A m e r ic a n H a ll w a y s .... 5 0 4 2% M a r 9
47 % Jau
22
O ct
Aug 5
C a m b r i a S t e e l .................... 6 0 2 0 % F e b 10 3 7
11% J au
7 % oct
10% J ’ne2
8 'i J a u 2 5
E le c t r ic C o o f A m e r ic a 10
8
Jau
3
GCt
7
Aug
3 t J a il 9
G e n A s p h a lt tr e tts . . .. 1 0 0
3b
Jan
13% N ov
A u g ..
1 9 % .Jan b 2 9
Do
p ret tr cits ....1 0 0
10
Jan
4
l> e c
9 % A p l 10
3 % F e b 29
C a k e S u p e r i o r C o r p ____1 0 0
1
0
3
Jau
6
9
O
c
t
9
2
%
J
’
l
y
2
7
8
‘4
J
a
u
2
E e l n g h C (to N a v t r c t f s . 5 0
7o% Jan
4 o % O ct
0 7 > A u g 13
E e l u g h V a l l e y '.................... 6 0 0 2 % F e b 2
2 % J an
% N ov
2 % A p r 24
H>16 j a u 2 0
J l a r s d e u C o ........................... 1 0 0
N o v 7O!1 i0 J a n
P e n n s y l v a n i a U K ........... 5 0 51*10 J a n 2 0 3 % A u g 7 * 5 2
48% Jan
33% N ov
3 4 ki M a r 3 4 1 % A p r 24
P ln la d e lp ’a C o ( P l t i s u ;. 5 0
9
Apr
10% A u g o
0 Ji8 N o v
5% F eb2
P h ila d e lp h ia E le c t r ic # . 25
N o ; $20% M ay
1 8 % M a r l b d 12
12 % J ’ u e 9
P la in l i a p i d T r a n s i t a . . 5 0
09% J an
35% O ct
0 * M A u g iO
B e a d i n g ................................. 3 0 16% 0 F e b 1
45% Jan
36 % N ov
39
J a n 3 s 3 % A u g 12
Do
1 s t p r e t ................ 5 0
47
Jan
32 % O ct
3 7 % J a n 2 43‘ 5 ;0 A u g i l
Do
2 d p i e f .................. 5 0
0 0 % j 'a n
4 L % .\o*
5b % A p r 23
U n i o n T r a c t i o n ................ 6 0 o M 4 % J ’ u e l o
9 0 % Jan
6b % O ct
7 3 % Jan 2 89
J ’ly 2 1
U n i t e d G a s l m p t .............. 5 0
F eb
y 30
26
J ’ue22
J ’n e2 2
W e l s b a c h C o ....................... 1 0 0 2 5
36
104
107
103 %
104%
106%
93
H A C T U IO lC E
P H IL A D E L P H IA
P h & H e a d 2 d 5 s ’ 3 3 . A -O
C o n M 7 s 1 9 1 1 .........J - D
C o n M 6 s g 1 9 1 1 ----- J - D
E x I m p M 4 s g ’4 7 . A -O
T e r m in a l 5 s g 1 9 4 1 .G -F
P W & U c o l t r 4 s ’ 2 1 . J -J
P o r tla n d U y 1 st 6 s 1 0 3 0 .
l i o c h ll)'(to E c o u 6 s ’ 5 4 J - J
U T r u e I n d g e n 6 s ’ 1 9 .J -J
U n l i y s T r c t f s 4 s ’ 4 9J< fcJ
U n ite d U y s I u v l s t c o l l t r
S f 6 8 1 9 2 6 ....................M - N
U T r a c P it g e n 6 s ’ 9 7 J -J
W e ls b a c h s t 5 s 1 9 3 0 .J -D
W l k s - B G & E c o n 5 s ’ 5 5 J -J
108%
117
99%
05
103
70
73
05
71
98%
HALTliUOKE
34 %
108%
96%
96%
105
110%
94
105
97%
lot
69
101%
70
I n a c t iv e (S to c k s
A l a C o n s C oa ld fc I r o n . 1 0 0
P r e f ................................... 1 0 0
A t la n t a S i C h a r lo t t e .. 1 0 0
A U u n C o a s t E iu o K B . 1 00
A lla n C o a s t L (C o n n ) 100
C a n t o n C o ........................ 1 0 0
C o n s C o t D u c k C o r p ...6 0
P r e f e r r e d ........................ 5 0
G e o r g ia S o u d i F l a ... 1 00
1 s t p r e f ........................... 1 0 0
2 d p r e f ............................. 1 0 0
G -U -B B r e w i n g ..............1 0 0
Iton d s
A n a c o s t l a & P o t 5 s ..............
A t l & C h e x t 4 % s T O .J J
A tl an O L R B 4 s l9 5 2 M -S
A t l C o a s t L (C t )c t (s 5 s J -D
C tfs o f In a e b t 4 s . .. . J - J
5 - 2 0 y r 4 s 1 9 2 6 ........... J - J
B a lt C l’ a ss l s t S s ’ l l M -N
B a lt F u n d g 6 8 .1 9 1 6 M -N
E x c h a n g e 3 % s 1 9 3 0 J -J
B a lt ( & P l s t O s m l ’ l l A - O
B a lt T r a c 1 s t 6 s . . ’ 2 9 M -N
N o B a lt D 1t 5 s 1 9 4 2 J -D
C e n t ’ l U y c o n 5 s l9 3 2 M -N
E x t < fc I m p 6 8 . 1 9 3 2 M - S
C l i a s C i t y B y 1 s t 5 s ”2 3 J - J
35%
94%
109%
107%
101
C h a s U y G & E l 5 s ’ 9 9 -M -S
C h a r i C (to A e x t 5 s . ’ 0 9 J -J
2 d 7 s ....................1 9 1 0 A - U
C i t y <fe H u b 1 s t O s . . ’ 2 2 J - D
C i t y cto S u b ( W a s ) l s t 5 s ’ 4 8
C o a l (to 1 U y 1 s t 5 s ’ 2 0 F - A
C o tJ c G r n v ls t 0 s .l9 1 0 J - J
C o n s o l G a s O s .. .1 9 1 0 J -D
6 s ...........................1 9 3 9 J - D
G a & A la 1 st co u 5 s ’4 5 J J
G a C a r (to N l s t o s g ’ 2 9 J - J
G e o r g i a P 1 s t O s .. . ’ 2 2 J J
G a S o (to F l a 1 s t 6 s 1 9 4 5 J -J
G - B - S B r e w 3 - 4 s 1 9 5 1 M -H
2 d in c o m e o s 1 9 5 1 M -N
K u o x v T r a c 1 s t 5 s ’ 2 8 A -U
E i k o li E l l s t g u 5 s ’ 4 2 M -S
A l a c o n IiyJSj C t 1 s t 5 s ’ 5 o J -J
M e m p h i s S t 1 s t 5 s ’ 4 5 J -J
M e tS t( W a s li)ls t 0 s ’2 5 F A
M t V e r C o t D u c k 1st 5 s.
N p t N & O P 1 s t O s’ 3 8 M - N
G e n e r a l 5 s ___ 1 9 4 1 M - S
N o r f o l k S t 1 s t 5 s ’ 4 4 . .J - J
N o r th C e n t 4 % s 192 5 A -O
S e r ie s A 5 s 1 9 2 0 ....J - J
S e r i e s B 5 s 1 9 2 6 ------ J -J
P i t t U n T r a c 5 s 1 9 9 7 . J -J
P o t o V a l 1 s t 5 s 1 9 4 1 . .J - J
S a v F la & W e s t 5 s ’3 4 A -O
S e a b o a r d A L 4 s 1 9 5 0 A -O
S c a b & l i o a n 5 s 1 9 2 6 . J -J
S o u th B o u n d 1 s t 5 s ..A -O
U E l L & P 1 s t 4 % s’ 29 M -N
U n B y & E l 1 st 4 s ’4 9 M -S
I n c o m e 4 s 1 9 4 9 ......... J - D
F u n d i n g 5 s 1 9 3 6 . . .J -D
V a M id 2 d s o r 6 s ’ l l . M - S
3 d s e r ie s 6 s 1 9 1 6 . . M -S
4 t h s e r 3 -4 -5 s 1 9 2 1 . M -S
5 t h s e r ie s 5 s 1 9 2 6 .M -S
V a (S t a t e ) 3 s n e w ’ 3 2 .J -J
F u n d d e b t 2 -3 s 1 9 9 1 .J -J
W e s t N C c o u 6 s 1 9 1 4 J -J
W e s V a C & P 1 s t O g’ l 1 J -J
W i l & W e l d 5 s . . 1 9 3 5 . J -J
* Bid and asked; no sales on this day, U Ex-rigbts. ||47.50 paid, f #12% paid. »$13% paid, i *35 paid, a Receipts. t> #25 paid, e $30 paid.
Put
...........
A sk
90
108%
100%
10b
102%
109
109 %
101%
107%
103
102%
16
15%
104
' 02%
80
93
80%
107
110%
110%
100
105
66
60%
100
1 0 1 % 102
93
91
86%
86%
63
63%
81%
82
...........
...........
io d ”
...........
90%
91"
106% 110
103
............
<1*42% paid
406
T H E CH R O N ICLE
Volume ol Business at Stock Exchanges
Tciegr & Telephone
IVOL. LXXXVII
B id
360
1 00
1 00
50'
40
90
34
110
95
65
85
I n d u s t r i a l a n d r t l is c e
A sk
B id
C o n s o l C a r H e a t in g .. 100
25
20
C o n s R y L g t & R e fr lg .lO U
2‘ 2
T R A N S A C T IO N S A T T H E M E W Y O R K S T O C K E X C H A N G E
C o n s o l R u b b e r T i r e __ 1 0 0
6
’
V
i'*
D A IL Y , W E E K L Y A N D Y E A R L Y .
100
60
P r e f e r r e d _______
25
15
50
D e b e n tu r e 4s i0 5 1 A & O
37
34
95
C o n s S t e a m s h ip L in e s 1 0 0
>8
118
Stocks.
Railroad,
40
C o l l t r 4 s 1 9 5 7 _______J & J
15
101.
W eek ending
dec..
State
V . S.
115
C o r n P r o d R e f S ee S t o c k
E x c li s t
A v g u s t 14 1 9 0 8 .
Shares.
P a r value.
B on d s.
B on d s.
B on d s.
105
e C r u clb le S t e e l .. . . . . l o o
712
7ES
65
e P r e f e r r e d _______
100
5 t3 4
501
S a t u r d a y _______________
5 4 4 ,8 8 4 $ 4 6 ,5 2 1 ,9 0 0
$ 1 ,9 9 6 ,0 0 0
$ 4 1 ,5 0 0
89
C u m b e rla n d E ly C o p p e r .5
8
$
M o n d a y ________________
9 2 9 ,4 9 7
8 4 ,0 4 0 ,7 0 0
4 .4 8 2 .0 0 0
1 0 9 .5 0 0
e D i a m o n d M a t c h C o - 1 0 <) 132
is f8
T u e s d a y ________________
9 0 1 ,3 2 5
8 2 .8 7 5 .0 0 0
F e rry C o m p a n ie s
4 .0 8 7 .0 0 0
4 7 ,0 0 0
$ 6 ,0 0 0
D o m i n i o n C o p p e r ________1 0
*2
W e d n e s d a y ____________
7 6 8 ,9 0 0
7 0 .6 5 0 .0 0 0
3 .3 0 2 .0 0 0
1 5 2 ,0 0 0
5 ,0 0 0 B r o o k l y n F e r r y s t o c k 1 0 0
21* D o u g l a s C o p p e r _______
a
*4
T h u r s d a y _______________
7 4 2 ,7 2 0
6 7 .1 2 0 .0 0 0
3 .3 6 0 .0 0 0
1 0 4 .5 0 0
§90
B & N Y 1st 6s 1011J J
9 3 ' E c o a ’ y L t & P ( J o l i e t , 111)
F r i d a y __________________ 1 ,0 1 8 ,1 1 3
9 0 ,2 7 8 ,8 0 0
2 ,1 8 5 ,5 0 0
1 8 7 .5 0 0
40
N Y & E R F e r r y s t k . 100
60
1 s t M s f g 5 s 1 9 5 6 . J - D § 97
68
:
40
1 s t 5 s 1 0 2 2 _________M - N
60
E l e c t r i c B o a t ___________l o o
25
15
T o t a l .............................. 4 .9 0 5 .4 3 9 $ 4 4 1 ,4 8 6 ,4 0 0 $ 1 9 ,4 1 2 ,5 0 0
$ 6 4 2 ,0 0 0
§8 5
$ 1 1 ,0 0 0 N Y & H o b 5 s M a y 4 6 J - D
88
P r e f e r r e d ____________ 1 0 0
H o b F y 1 s t 5 s 1 9 4 6 M -N §100
103
E l e c t r i c V e h i c l e .............l o o
3
S ales at
N Y & N J 5 s 1 0 4 6 _____ J -J § . . . . 100
W eek endlno A u gu st 14.
J a n . 1 to A u g u st 14.
P r e f e r r e d __________ l o o
5
30
40
N e w Y ork Slock
1 0 th & 2 3 d S ts F e r r y .100
E m p i r e S t e e l _______ ___ l o o
10'
5
§60
E xchange.
1
s
t
m
t
g
e
5
s
1
9
1
9
.
.
J
D
6
0
1908.
1907.
1908.
P
r
e
f
e
r
r
e
d
________
l
o
o
1907.
52
47
16
e U n io n F e r r y s t o c k . . 1 00
23
e F e d e r a l S u g a r o f N Y S ee S t k E x l l s t
80
e l s t 5 s 1 9 2 0 ................M - N
90
S t o c k s — N o . s h a r e s ___
4 .9 0 5 ,4 3 9
5 ,4 0 7 .4 9 1
eG en era l C h e m ic a l... 100
1 0 8 ,2 9 8 .2 9 9
65
60
1 3 9 ,9 4 3 ,5 3 1
P a r v a l u e ____________ $ 4 4 1 ,4 8 6 ,4 0 0 S 4 8 2 ,0 0 3 ,8 5 0 $ 9 ,2 9 2 ,3 9 9 ,6 5 0 $ 1 1 ,9 6 6 ,8 0 0 ,8 8 5
S h o r t-te r m N otes
e P r e f e r r e d __________ 1 0 0
92
1 00 *
§951*
963.
A
m
C
l
g
s
e
r
A
4
s
T
1
.
.
M
S
B a n k s h a r e s , p a r _______
§ 4 ,5 0 0
G o ld n tld C o n s o ! M in e s . 10
$ 6 ,8 0 0
$ 1 3 7 ,3 0 0
*6S8
$ 2 2 1 ,7 0 0
0 l2
S e r B 4 s M c h 1 5 ‘1 2 M S § 9 3 l2 9 4 14 G o l d H i l l C o p p e r
B on d s
1
* ”\s
§9978 1 0 v l„ G r e e n e C a n a n e a ____I I ~ 2 0
A m T e l & T e l g 5 s 1 0 J -J
G o v e r n m e n t b o n d s ___
$ 1 1 ,0 0 0
$ 1 1 ,5 0 0
$ 4 5 0 ,8 2 0
$ 5 0 5 ,8 0 0
■>1118 1114
§997.,
U)018
S t a t e b o n d s .....................
G reen e C o n s o l G o l d ._ „ l o
6 4 2 ,0 0 0
8 7 6 ,8 0 0
6 4 ,6 8 3 ,5 0 0
U
3 1 ,7 6 4 ,1 0 0 A l l a n C o a s t L 5 s T 0 . M - S
B a l t & O h i o 5 s 1 9 0 9 . M - S § t o o i4 10034 G r e e n e G o l d - S i l v e r
R R . a n d m ls c . b o n d s . .
10
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9 ,5 0 1 ,5 0 0
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1 75
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10
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19
21
____
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1 s t g 5 s J u n e 1' 2 2 . J - D
45
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§10014
I n t e r b R T g 6 s 191 1 M -N
U 0 1 2 H e c k e r - J o n e s - J e w e l l M ill
B osto n .
P hiladelphia.
§9712 9 8
1 s t 6 s 1 0 2 2 ................... M - S
5 s M c h 1 9 1 0 ................M - S
100
W eek ending
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30
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A u g u st 14 1 9 0 8 .
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97
H o b o k e n L a n d & Im p lO O
talcs.
shares.
shares.
shares.
shares.
sales.
§93
5 s g 1 9 1 0 ...................... M - S
96
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§100
10034 101
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35
£0
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9 0 ,0 0 0
5 0 ,0 0 1
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1 0 ,7 7 8
2 7 ,0 2 8 M e x C e n t 5 s J u l y 1 1 0 1 0
§95
100
H u d s o n R e a l t y _________1 0 0
1 00
n o
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T u e s d a y .............. ............
6 3 1 .0 0 0
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1 5 ,4 7 9
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65
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W e d n e s d a y ____________
1 3 ,1 3 2
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§93
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96
90
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95
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98
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93
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Street Railways
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1971* •205
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50
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87
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34
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100
120
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145
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90
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104
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275
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365
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83
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53
51
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105
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110
1 25
1
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65
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C o l u m R y c o n 5 s — S e e P b . la lis t
75
100
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P r e f e r r e d _____________ 5 0 * 5 5
60
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35
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134
133
95
90
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109
11U
e P r e f e r r e d _______
10c
74
71
, $0912 106
B r i t i s h C o l C o p p e r .............5
*63:,
P r e f e r r e d ____________ 1 0 0
7
30
36
G ra n d R a p ds R y . ..1 0 0
*125
50
60
130
B u t t e C o a l i t i o n M i n i n g 15
U
S
C
a
s
u
a
l
t
y
____________
1
0
0
*2 7
2 00
2712
P r e f e r r e d ____________l o u
87
75
83
10
C a s e in C o o f A m c o m . 100
U S E n v e l o p e c o m ____1 0 0
26"
3
1'2
e L o u l s v S t 5 s 1 0 3 0 . . J & j §107
e C o n g 5 s 1 9 4 8 ____ J - D
10J
5 1 0 3I2 1 0 4 l2
P r e f e r r e d .................. . 1 0 0
e P r e f e r r e d ____________ 1 0 0
90
50
60
L y n n & B o s 1 s t 5 s '2 4 J i,
101
J to H u d s o n L H & P o w —
§09
C a s u a lt y C o o f A m e r . 1 0 0
U S S t e e l C o r p o r a t io n —
110
125
0 N e w O rl R y s & L g t .1 0 0
5S
1
9
3
8
..........................
A
0
J 95
13
14
C e l l u l o i d C o ______________ 1 0 0
C o l t r s t 5 s ’ 5 1 o p t 11 §1 1 2 1 - 11312
126
130
e P r e f e r r e d __________ l o o
301* 3 5
«
C e n t F ir e w o r k s c o m . . 100
C o l t r s f 5 s ‘ 5 1 n o t o p t (1121- 1 13 •2
8
15
G e n M g 4 ) § s '3 5 S e e 8 t k E x lis t
1 s t 6 s 1 9 2 6 .................. J - D
"
271
P r e f e r r e d ____________ 1 0 0
U S T it G u & ln d e m -1 0 0
60
60
75
N o r t h C h '.c S t r e e t S e e C li
a t & P a s G as& E l e c .100
iso
90 C e n t r a l F o u n d r y ----------- 1 0 0
2
21* e U t a h C o p p e r C o - S e e S t k
li s t
P u b S erv C orp o f N J .lo u
IK)
e C o n g 5 s 1 9 4 9 ____fll S §101
8j
1 0 2 !2
P r e f e r r e d ____________ 1 0 0
W a t e r b u r y C o , c o m __ 1 0 0
11
13
T r c t f s 2 % t o 6 y 0p e r n e i
69
§85
70
8
90
D e b 6 s 1 0 1 9 o p ’01 M -N
P r e f e r r e d ____________ 1 0 0
69
62
C o l l 5 s g n o t e s '0 !)_ .\ t‘, 9 5
97
C e n t u r y R e a l t y ________ 1 0 0
W estch ester & B r o n x li t
180
190
Electric Companies
N o r th J e rse y St R y 106
30
C h e s e b r o u g h M Ig C o . 100
& M t g e G u a r _________1 00
.0 0
430
1 s t 4 s 1 0 4 3 _______M - N
§69
71
t
I c a g o li s t
C i t y I n v e s t i n g C o _____ 1 0 0
66
571: W e s t e r n I c e ----------------------1 0 0
C ons T ra ct o f N J ..1 0 „
68
70
e
125
e C la d ln (H B ) , c o m . . 1 0 0
W e s t l n g h A i r B r a k e ____5 0 * 1 1 0
90
100
I s . 5 s 1 9 3 8 .............j - D
§1021
* 8 7 1 ;. 9 2
L03I- f
e l s t p r e f e r r e d _______ 1 0 0
W e s t E l & M fg 6s-S e e S t
E x c lis t
90
95
N e w ’ k P a s R y 5 s '3 0 J - j (10612 .07 l i 7
36
f 2 d p r e f e r r e d ________ 1 0 0
W h i t e K n o b M i n .............10
* 1.
90
95
R a p id T ra n St R y . l o o
2 35
746
P r e f e r r e d ____________ 1 0 0
60
C o l 8c H o c k C o a l & l p f 1 0 0
P r e f e r r e d ______________1 0
*5
65
70
1 s t 5S 1 9 2 1 _______ A : 0
105
u l t e d E l o c o l N J ____ l o o
....
55
1 s t g 5 s 1 9 1 7 .............. J - J
W o r th in g P u m p p r e f.1 0 0
102
78
90
108
l * t '! 4 s 1 9 4 9 ________ J -D
>06
( . o l t r o s O c t 1 9 5 6 . . J - J § 95
lO H j
* P er sn a re
§ B u yer pays a ccru ed
a E x -r ig n t s .
a S e lls o n a t x . E x . , u u i n o t v e r y a c t i v e . 1 N e w s t o c k , n N o m i n a l , j S a le p r ic e , x E x - d l v ,
e A m e r T e le g & C a b le . 100
e C e n t r a l & S o A m e r __ 1 0 0
C o m m ’l U n T e l ( N Y ) . 25
E m p & B a y S ta te T e l 100
F r a n k l i n ............._ ..............1 0 0
e G o ld & S t o c k T e le g .1 0 0
H u d s o n R iv e r T e le p h 100
eN Y & N J T e l e p h . . . 1 0 0
(^ N o rth w e ste rn T e l e g . . 50
P a c i f i c & A t l a n t i c _______ 2 5
S o u t h e r n & A t l a n t i c . . 25
A sk
69
110
I’4
Outside Securities
i1*
22
Yd
A ug. 15 1908.]
407
T H E C H R O N IC LE
lu u e s t m e n t a n d jd a ilr o a fl I n t e llig e n c e .
R A I L R O A D
G R O S S
E A R N I N G S .
The following table shows the gross earnings of every STE AM railroad from which regular weekly or monthly returns
*an 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. Tt
J
1 u ly
L a test G r o s s E a r n in g s .
W e e k or
A f on th .
llO A D S .
A hi N O A T ex P ac.
N O A N E a s t -.t
A l a A V l c k s b ____i
V ic k s Sh A P a c -i
A la T e rm & N o r t h ,
fc A t c h T o p & >S F e .
A t la n t a B lrm A A ti
A t l a n t i c C o a s t L in t
B a lt im o r e A O h i o . .
B a n g o r A A roostoot,
B e lie f o n t c C e n t r a l.
B o s t o n A M a i n e ____i
B r id g e t o n A S a c o . .
B u ll K o ch A P it t s ..
B u l/a lo & S u s q . _
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 i f i c . . .
C e n tra l o f G e o r g ia . .
C en tral o f N J ersey
C h a tta n oog a S o u th _
C h e s a p e a k e A O h io
C lie s t e r lle ld A L a n e
C h ic A A lto n U y . . r
C h ic B u r l A Q u ln .- s
C h ic G re a t W e s t . . !
C h ic In cl A L o u i s v .
C h ic ln d & S o u th e rn
C h i c M ilw & S t i 'a u .
C h ic & N o rth W e st.
C h ic S t P a u l M & O .
C h ic T e r m 1 ra n it i
C ln H a m A D a y t - .r
C ln N O * T e x a s P
C in cin n a ti N o r th e rn
C le v C ln C h ic A S t L
C o lo r a d o M id la n d .i
h C ol & S ou th S y s ..
C o l N e w If A L a u r .
C o p p e r H a n g e -------C o r n w a l l ____________
C u b a R a i l r o a d ____
l D e la w a r e A H u d .
D el L a ck A W e s t ..!
D en v e r A ltlo O r ..
D e t r o i t & M a c k ln a i
D e t T o l A I r o n t Sy;
A n n A r b o r _______
D u lS o S h A A tl . .
B r i e _________________
E l P aso A S ou th w .
E v a n s v ille A T e r li
F a i r e h l t d <Sc N o r E .
l ’ o n d a J o h n s & G lo \
G e o r g ia R a ilr o a d . _
G e o r g i a S o u t h & F la
G ra n d T ru n k N y s t ..
O r T ru n k W e s t ..
D et G r H av & Ml
C a n a d a A tla n tic .
G r e a t N o r t h e r n S ysi
C u lt A S h ip I s la n d .
H o c k i n g V a l l e y _____
I l l i n o i s C e n t r a l _____
I n te r A G re a t N ortt
a I n te r o c e a n lc (M e x i
I o w a C e n t r a l _______
K a n a w h a A M ic h .
L e h ig h
C urrent
Year.
P r e v io u s
Year.
$
$
P r e v io u s
Year.
2 0 0 ,5 2 0
2 1 2 ,1 0 1
2 1 2 .1 0 C
2 6 9 ,5 2 1
1 2 2 ,0 7 7
1 1 7 ,0 1 1
1 1 7 ,0 1 1
1 2 2 ,9 7 V
1 3 1 ,6 0 8
1 0 8 , IlOt,
1 0 8 ,3 0 6
1 3 1 ,6 0 !
4 5 .8 7 5
4 5 .0 0 4
3 ,5 5 1
3 ,5 1 2
5 ,3 3 0 ,6 1 8 7 , 9 5 0 , 0 5 1 i 0 , 0 1 7 , 7 0 0 ,1 4 ,3 4 3 ,3 0 7
1 ,4 4 9 , 4 8 0
1 ,5 8 4 , 1 8 4
1 4 1 ,9 7 7
1 1 5 ,2 6 0
2 0 ,7 7 1 5 2 8
1 ,8 7 8 ,0 6 6 2 ,0 0 7 , 1 0 - .
3 2 ,2 4 3 ,9 2 2
o ,4 3 0 ,2 5 1 7 ,1 0 6 ,0 8 6
2 .0 5 7 ,0 5 2
2 , 0 5 7 , 0 5..
2 8 2 ,1 3 2
2 0 0 ,6 0 8
5 .5 3 1
4 ,0 5 1
5 ,5 3 1
4 ,0 5 6
48
________
.
3
8
,
9
0
0
,
7
________
3 ,0 4 5 , 6 0 2
4 7 ,0 5 0
5 2 .0 9 0
4 ,4 8 4
6 ,2 0 !.
1 ,0 1 1 , 0 2 7
8 0 1 ,2 1 1
1 30 ,5 5 l
1 8 4 ,5 7 1
1 ,3 4 0 , 2 6 5
1 ,0 4 7 . 8 0 2
1 5 4 ,7 4 1
1 8 0 ,2 6 2
1 ,1 3 0 , 2 0 0
0 02 001
1 1 )0 ,7 iK
1 7 4 ,4 0 6
8 ,1 0 5 ,0 0 0
7 ,0 6 6 , 0 0 6
1 ,4 7 0 , 0 0 6 1 ,5 0 5 ,0 0 1
1 ,1 7 2 , 4 0 0
1 ,0 0 8 ,1 0 1
2 1 8 ,1 0 1
1 0 1 ,4 0 1
1 4 ,0 2 2 ,8 8 7 2 4 , 2 4 0 , 1 7 2
2 ,2 8 0 , 1 0 6 2 ,4 6 4 ,5 0 1
1 0 ,9 1 0
1 1 ,5 0 2
1 ,0 8 0
5 ,0 4 6
1 ,9 2 3 , 4 2 4 2 ,4 3 0 , 6 8 6 1 5 ,8 4 3 ,2 7 2 2 5 , 7 0 0 , 8 0 1
5 0 ,1 4 4
0 2 ,5 5 2
4 ,6 7 4
3 ,3 0 2
1 2 ,0 0 0 ,0 0 1
9 5 0 , e 18 1 ,0 5 0 ,7 0 1
5 ,5 6 7 , 0 0 1
6 9 6 ,3 4 6
0 5 8 ,0 8 5
2 4 5 ,0 D
2 3 7 .6 6 1
5 0 3 ,5 4 0
5 4 8 ,7 3 t
1 0 0 ,4 1 .
1 1 7 ,2 8 )
Y o r k C e n t r a l.
6 0 .5 4 7 ,7 5 0
i , a u l , 2 u „ 1 ,8 7 0 ,1 3 2
8 9 ,0 8 0 ,5 3 0
1 ,8 0 ./,5 1 .. 3 ,1 3 4 , 4 7 2 •
1 3 ,0 3 1 ,1 0 4
0 3 2 , 2 7 6 1 ,1 4 8 , 4 18
1 ,0 1 2 , 3 2 0
1 ,0 2 5 , 0 8 8
3 0 ,7 2 7
3 3 ,0 5 1
7 ,3 0 5 ,4 It
5 3 8 .0 4 6
h e r n R a il w a y .
Y o r k C e n t r a l.
Y o r k C e il t r a l .
2 ,4 3 7 .1 8 8
2 ,2 0 0 , 7 5 6
1 o 4 ,U O i
1 0 8 ,2 8 8
1 ,4 4 8 , 7 8 6
1 ,4 5 7 , 4 7 8
2 0 5 ,4 5 i
2 5 8 ,5 0 3
2 9 4 ,0 1 3
2 7 5 ,7 7 5
1 7 ,4 5 .
2 3 ,1 0 6
8 1 9 ,2 9 2
8 0 7 .3 2 2
7 4 ,0 1
7 8 ,1 2 2
2 2 0 ,9 7 5
1 1 7 ,7 3 3
4 ,7 7 7
1 0 ,1 8 3
1 ,0 5 3 ,3 1 0
1 6 5 ,4 0 t
2 , 0 3 0 ,4 6 r
1 4 5 ,5 0 1
1 ,4 0 7 , 8 7 6 1 ,7 2 4 , 3 0 1 1 9 , 6 1 0 , 1 9 2 1 8 , 5 4 5 , 0 9 8
3 ,8 1 0 , 2 5 3
2 ,8 0 0 , 8 0 5
2 ,3 0 1 ",6 0 0
4 4 2 ,7 0 6
1 0 9 5 ,4 0 1
3 6 7 ,0 0 6
1 3 0 ,0 8 3
2 1 .2 0 E
2 2 ,0 3 6
1 2 5 ,3 7 7
1 4 2 ,6 8 6
5 2 ,4 2 6
1 1 5 ,4 5 4
4 1 ,2 4 2
1 7 5 ,5 1 3
1 4 0 ,8 3 4
5 0 ,0 1 0
5 1 ,2 2 6
________
0 ,2 0 7 ,5 0 9
5 5 9 ,7 5 6
4 0 3 ,4 0 4
2 8 7 ,4 1 4
7 3 ,4 9 0
5 6 ,4 8 2
3 ,8 5 1 , 2 5 2 1 ,8 6 0 ,0 0 1 4 5 , 0 7 0 , 3 7 0 1 9 ,0 0 0 ,8 7 0
________
7 ,5 6 4 ,1 0 5
5 2 9 ,4 2 1 )
I s la n d S y s t e m .
1 8 ,8 0 0
1 8 ,5 0 7
1 ,6 1 0
1 ,3 0 7 0 6 ,4 6 3
7 1 0 ,1 6 8
6 2 ,0 0 0
0 0 ,0 2 1
3 ,0 1 0 .4 5 8
2 ,0 2 3 , 2 7 7
2 1 0 ,4 3 5
1 0 1 , 10<
h e r n R a il w a y .
4 ,8 0 6 ,3 0 7
4 ,1 1 4 , 6 7 1
iH 5 4,3 (
7 0 4 ,0 0 ,.
3 6 6 ,4 2 7
3 1 1 ,6 0 5
1 2 2 ,4 3 1
1 0 2 ,3 5 7
1 0 0 ,3 0 0
0 3 ,6 8 9
3 6 ,6 4 0
3 1 ,6 3 2
1 2 8 ,6 8 4
1 1 8 ,5 7 7
4 0 ,3 6 2
3 0 ,0 1 7
5 , 0 1 0 ,0 0 a
4 ,2 8 0 ,1 .)
4 ,2 8 9 , 1 0 - . 5 , 6 1 0 , 0 0 c
2 ,2 1 5 . 7 3 0
1 ,0 0 3 , 3 1 5
4 5 ,0 0 7
2 0 , 0 71
0 ,0 0 7 ,0 4 9
5 ,8 4 1 , 7 0 3
4 4 8 ,6 2 1
0 7 4 ,2 4 7
5 ,0 2 7 ,0 4 0
4 ,0 0 4 ,7 0 5
1 ,0 0 4 , 7 6 ! 5 0 2 7 , 0 4 0
0 8 5 ,0 0 0
5 9 9 ,0 0 0
1 0 5 ,0 0 6
1 1 3 ,0 0 6
7 5 0 ,7 6 5
6 5 3 ,6 3 1
1 2 4 ,9 5 4
1 4 5 ,0 0 1
3 0 2 ,2 8 7
2 6 5 .3 2 2
5 2 ,0 2 6
5 6 ,6 2 0
2 ,1 6 4 , 3 5 0
1 ,8 4 5 , 4 9 8
1 2 5 ,3 1 1
2 3 2 ,5 0 6
0 ,2 3 8 ,0 9 0
6 1 1 ,6 0 6
8 ,8 9 4 , 3 7 1
8 7 2 ,5 7 1
Y o r k C e n t r a l.
— S ee N ew
Y o r k C e n tr a l.
— See N ew
3 2 ,2 0 1 ,8 2 8
2 , 0 8 2 , 16< 3 ,1 6 4 , 3 5 7 3 2 , 4 4 3 , 5 3
5 8 3 ,5 2 9
5 1 ,7 0 7
4 9 7 ,9 3 3
3 5 ,0 6 5
J u n o _______
D ec. 13. 3 2 0
I n c . 154, 5 1 1
0 8 3 ,0 1 0
1 2 0 ,2 6 4
9 5 4 ,6 5 7
0 7 ,4 8 1
A p r i l .............
5 ,0 7 5 , 0 0
0 1 0 ,0 5 5
4 ,3 4 4 , 3 4 5
8 0 3 ,1 1 6
1 st w k A u g
1 0 8 ,4 0 0
1 0 ,1 4 1
1 4 6 ,0 8 1
0 ,0 1 8
J u n o _______
8 ,5 1 4 ,2 5 6
0 8 8 ,0 4 0
6 .0 7 4
6 ,0 7 4
7 ,4 0 8
7 ,4 0 8
3 6 0 .5 7 0
2 0 ,7 3 2
3 8 3 ,3 4 9
2 0 ,7 2 2
/ u n e _______
M a y ............ 2 ,7 0 4 , 4 7 4 2 .9 9 5 . 0 8 2 3 2 , 8 0 9 . 4 4 3 2 8 , 4 0 2 , 1 0 0
0 3 6 ,2 0 7
1 6 7 ,6 7 0
7 0 0 ,7 4 7
1 2 8 ,7 3 3
1st w k A u g
4 4 3 ,7 0 0
3 8 8 ,5 0 0
1 4 6 ,2 0 0
1 3 0 ,0 0 1
•d w k J u l y
7 1 ,1 3 I
6 9 ,2 3 8
2 3 ,2 3 5
2 3 ,8 0 6
id w k J u ly
— S ec N ew
Y o r k C e n t r a l.
9 1 6 ,2 7 7
6 5 8 ,5 7 3
8 7 ,6 9 1
A p r i l _____
6 1 ,3 7 3
8 8 ,4 3 2
8 7 ,6 9 2
1 6 ,1 7 3
1 6 ,4 9 3
1st w k A u g
4 4 2 ,3 8 8
3 7 9 ,1 0 1
8 0 ,5 7 4
1 st w k A u g
7 0 ,8 4 V
1 ,1 3 0 , 6 4 2
1 ,3 3 0 , 8 2 3
2 2 8 ,6 6 4
1 st w k A u g
2 1 2 ,4 0 ;
I u n e _______ 1 ,7 3 0 ,1 1 4 2 ,1 1 3 , 1 6 1 2 3 , 2 8 3 , 6 7 0 2 6 , 1 8 3 , 9 5 0
4 .3 3 0 . 0 0 0
8 3 6 ,0 0 0
1st w k A u g
7 5 8 ,0 0 0
1 4 7 ,0 0 1 '
1 st w k A u g
3 1 ,0 0 0
3 4 ,0 0 (
4 .4 7 7 . 0 0 0
1s t w k A u g
8 6 7 ,0 0 0
7 9 2 ,0 0 6
9 1 ,5 7 3
vV k J u l y 2 5
2 1 ,4 1 8
2 3 ,0 8 1
l i m e _____
7 7 9 , 3 1 ! 1 ,1 1 3 , 7 0 4 1 0 , 8 0 2 . 0 3 5
1 ,4 6 6 , 9 8 0
1st w k A u e
2 7 5 ,0 1 ?
3 2 5 ,1 1 8
9 2 ,9 0 1
1 7 ,7 8
1 0 ,5 3 6
1 st w k A u g
)
2 0 .9 7 8
7 ,5 2 4
5 ,5 3 6
3 d w k J u ly
l u l y _______
i n l y _______
l u l y ---------J u n e _______
J u n e _______
vl a y _______
l u n e _______
i u n e _______
d a y _______
l u l y _______
J u n e _______
J u n e _______
1st w k A u t
■ ■ la r c h _____
1st w k A in ;
1 st w k A u t
1st w k A u i
d a y ---------R h w k J u lj
/lin e —
J u n e _______
u n e ---------d a y ----------1 th w k J u l j
1 st w k A m
— See N ew
/ l i n e ----------n i n e ----------i i i n e ---------:<1 w k J u / u
, l a y _______
— Sec S om
— S ec N ew
— See N ew
J U l l o -------1st w k A u t
d a y ............
- u n e _______
J u n e _______
J u n e ----------/ u n e _______
i u n e _______
1 st w k A im
1 st w k A u t
ith w k J u ly
1 th w k J u l y
J u n e _______
1st w k A u g
l a y ............
■ J u n e _____ _
— S ee R o c k
J u n e ----------M a y ............
June . _ .
— S ee S ou t
1 st w k A u g
3 d w k J u ly
3 d w k J u ly
3 d w k J u ly
i n l y _______
3d w k M ay
l u n e _______
J u ly _______
1 st w k A u g
1 st w k A u g
1 st w k A u g
•.lay -----------
V a l l e y _____
L o n g I s l a n d _________
L o u is ia n a A A r k a n .
M a co n A B in n in g .
M a n l s t l q u e __________
M a r y la n d A P e n n .
a M e x ica n
In te rn a
a M e x ica n R a ilw a y
a M e x ica n S o u th e rr
M i d l a n d V a l l e y ____
M i n e r a l R a n g e ______
M i m ie n p A S t L . .
M i n n S t I* A S S M
C en tra l B ra n ch .
.
.
J u ly
L a te st G r o s s E a r n in g s .
1 to L a test D a t e .
C urren t
Year.
HOADS.
W e e k or
M o n th .
N Y C A H u d R iv e r
L a k e S h o r e A M fc
L a k e H r lc A W e s t
C h ic ln d A S o u th
M ich ig a n C e n tr a !.
C lo v e C C A S t L_
P e o r ia A E a ste rn
C in c in n a ti N o r th
P it t s A L a k e E r k
R u t l a n d ___________
N Y C h tc A S t L .
T o t a l a ll l i n e s _____
N e v a d a C e n t r a l _____
N Y O u t A W e ste rn
N Y N H A H a r t - .i
N Y S u sq A W e s t ..
N o r fo lk A W e s t e r n .
N orth ern C en tra l . .
N o r t h e r n P a c i f i c ___
P a c i f i c C o a s t C o ___
P e n n s y lv a n ia C o ._ r
it P e n n — E a s t P A I.
it W e s t o f P A E
P e r e .M a r q u e t t e . _i
P h lla B a lt A W a s h .
P itta C ln C h i c A S tI
P it t s A
L a k e E r ie
R a le ig h A S o u t h p o r t .
H e a d in g C o m p a n y .
C oal A Iron C o ..
T o t a l b o t h c o s ___
R ic h F r e d A l ’ o to in
R i o G r a n d e J u n e ___
R io G ra n d e S o u t h ..
it o e k Is la n d S y s te m
o S t L A S a n F ra n
f E v a n s v A T e r li
T o t a l o f a ll li n e s .
R u t l a n d _______________
.it J o s A G r a n d I s l .
S t L o u is S o u t h w e s t .
San P cd L A A S L r
S e a b o a r d A ir L i n e ..
S i e r r a R a i l w a y _____
S o u th e rn I n d ia n a ..
c S o u th e rn P a c C o . .
S o u th e rn R a ilw a y .
M o b i l e A O t h o ___
C ln N O A T e x P
A la G rea t S o u th .
G e o r g ia S o A F la .
T e x a s C e n t r a l ______
T e x a s A P a c i f i c _____
T id e w a te r A W e s t .
T o le d o A ’ O h io C e n ’
T o le d o P c o A W e s t
T o le d o S t L A W esl
L 'o m b l g b e e V a l l v e . .
T o r H a m A B u tla lo
U n io n P a c if i c S y s t .
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 . _____
J u n e _______
J u n e _______
J u n e _______
J u n e _______
J u n e _______
J u n e _______
June
_____
M a y ----------. ' l a y _______
J u n e _______
J u n e _______
J u l y _______
I u n e ______
J u n e _______
J u n e _______
l u n e _______
J u n e ______
l u n e _______
J u n e _______
— See N ew
l u n e _______
M a y _______
M a y . _____
M a y _______
M a y _______
M a y _____
1st w k A u g
M a y ______
M a y _______
M a y _______
V la v . .
.
— See N ew
M a y ______
1st w k A u g
I u n e _______
M a y _______
M a y _______
J u l y ............
M a y _______
1st w k A u g
1st w k A u g
1 th w k J u l y
1 th w k J u l y
1 th w k J u l y
1 th w k J u ly
1st w k A u g
J u n e _______
M a y _______
1st w k A u g
1st w k A u *
l u n e _______
l u n e _______
M a y _______
V ir g in ia A S o u W e s l
W a b a s h ______________
W e ste rn M a ry la n d .
W Jes A S ea sh ore.
W h e e l A L a k e E r ie .
W is c o n s in C e n t r a l -r
W r ig h ts v A T e n n .
Y a z o o A M iss V a i l .
J u n e _______
1st w k A u g
M a y _______
J u n e _______
2d w k Jun<
M a y _______
J u n e _______
J u l y ----------
V a r io u s F isc a l
C urren t
Y ea r.
P r e v io u s
Y ea r.
S
7 ,2 6 9 . 8 0 8
3 ,0 8 6 , 0 5 5
3 5 6 ,5 3 8
2 3 0 ,7 4 4
1 ,0 7 7 , 2 4 6
1 ,9 8 3 , 1 6 3
2 1 7 ,1 6 4
8 0 ,8 0 3
8 3 5 ,3 8 6
2 3 6 ,3 8 4
6 1 1 ,1 0 2
16914633
6 ,8 0 3
7 4 0 ,2 6 4
4 ,1 3 2 , 5 6 2
2 6 1 ,3 2 5
2 ,1 5 1 , 2 3 0
0 6 0 ,3 0 2
5 ,7 1 3 , 3 7 5
5 0 2 ,2 8 6
5 ,5 0 0 ,8 1 4
11313187
D ec. 1,
1 ,0 3 6 . 5 4 !
1 ,4 3 0 ,3 1 1
■ ,2 0 5 ,3 7 5
Y o r k C en
0 ,1 0 V
3 ,2 9 4 , 9 3 2
3 ,0 7 5 , 7 6 5
0 ,3 7 0 ,6 9 V
2 0 1 ,9 8 7
6 5 ,6 5 2
1 0 ,3 0 1
1 ,0 5 5 ,3 0 !
J ,0 1 7 ,6 8 2
1 5 4 ,0 8 3
7 ,2 2 7 , 1 3 6
Y o r k C en
1 2 3 ,1 3 3
1 8 1 ,0 4 0
6 0 5 ,7 5 6
1 ,1 0 6 , 3 8 5
U 5,6.‘J4
1 1 6 ,3 5 6
9 2 2 8 ,2 5 7
8 4 4 ,4 1 4
1 3 5 ,3 5 4
2 2 0 ,7 2 2
1 1 4 ,7 0 1
4 7 .5 6 1
2 6 ,2 1 8
2 07 OH
6 ,3 1 1
2 3 1 ,2 3 /
1 7 ,9 9 2
6 8 ,0 5 6 ,5 8 .
6 1 ,4 3 (
5 ,8 4 6 , 5 0 2
6 9 2 ,3 0 8
8 5 ,1 9 6
5 1 5 ,5 9 4 1 5 ,4 5 9
4 9 9 .2 2 4
9 8 .8 8 5
5 2 0 ,8 1 0
1 4 ,0 3 4
5 8 2 ,0 4 6
5
3 ,6 8 4 ,2 6 0
5 ,7 9 1 , 1 0 3
4 2 2 ,8 0 5
2 5 4 ,8 4 .
2 ,3 7 6 ,1 2 !
2 ,3 2 3 ,8 4 4
2 6 6 ,2 8 2
8 2 ,5 5 4
1 ,3 6 6 , 5 0 4
2 6 0 ,3 0 0
8 2 1 ,5 6 8
20670281
8 ,3 0 1
7 2 6 ,2 4 6
________
2 0 5 ,2 8 s
2 ,7 5 1 , 3 8 3
1 ,1 6 5 , 7 0 2
7 ,1 3 1 ,4 6
/ 0 , J 0 t/
1 ,4 2 1 , 0 0 3
3 4 ,0 9 4
1 3 7 ,2 7 0
11231006
1 ,0 8 8 , 0 0 ;
1 7 2 ,8 0 0
2 7 0 ,0 3 2
1 3 0 ,9 7 !:
0 1 ,9 7 !
3 1 ,5 7 2
2 4 9 ,18‘
8 ,8 0 2
4 3 0 ,2 8 5
2 0 ,9 6 1
8 5 ,0 4 2
5 ,3 3 3
7 5 ,3 2 2
0 ,9 5 7 . 3 4 0
Jan
D e lle fo n to C e n t r a l.
{ D e l a w a r e A H u d s o n _____________ J a n
Jan
M a n l s t l q u e ---------------Jan
M e x ic a n R a i l w a y . .
Jan
M e x ic a n S o u t h e r n .
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
N o r th e rn C e n t r a l..
Jan
d P e n n — E a s t o f P it t s A E r ic —
it W e s t o f P i t t s b u r g h a n d E rU J a n
Jan
P h lla B a lt im o r e A W a s h in g t o n
Ia n
P it t s C ln C h ic a g o A S t L o u is —
R i o G r a n d e J u n c t i o n ---------------------- D e c
1J a n
T e x a s A P a c i f i c ____
1 T »n
W e s t J<*»-so v Sc S o n s h o r e ___
P r e v io u s
Y ea r
.1 2 ,1 0 0 ,7 6 3
1 1 ,7 0 4 ,1 5 2
4 ,6 7 5 ,0 6 8
2 ,8 0 0 ,2 0 8
2 6 ,4 4 8 ,4 0 6
2 5 ,0 2 4 ,0 1 2
2 .8 3 0 , 1 0 7
0 2 2 ,4 7 ?
1 1 , 9 5 8 ,1 0 C
2 ,8 9 9 ,0 3 5
9 ,8 5 1 ,3 7 5
221222484
7 5 ,4 7 5
8 ,1 2 1 ,4 0 4
1 8 ,0 9 2 ,8 8 1 .
3 ,0 3 8 ,7 5 5
8 ,0 6 2 , 2 1 7
1 2 ,4 3 0 ,2 4 8
5 5 ,7 1 3 ,3 7 5
7 ,2 7 2 ,0 5 8
1 3 ,3 6 0 ,8 4 2
140692100
D e c .8 ,0 2
1 3 ,0 0 1 ,8 7 5
1 6 ,8 9 5 ,3 4 0
1 6 ,1 4 1 ,4 3 8
1 3 ,5 2 6 ,8 1 8
5 ,1 1 0 ,0 6 7
2 ,6 8 5 ,0 0 5
2 7 ,4 0 0 .4 2 3
2 5 ,6 7 2 102
3 ,0 3 0 ,6 4 5
1 .0 3 1 , 7 6 9
1 4 .4 7 0 .3 8 1
2 ,0 1 7 ,8 3 5
1 0 ,2 3 7 ,2 2 0
232230634
8 1 ,5 6 6
8 ,2 0 2 ,3 6 1
2 ,8 4 7 * 8 0 2
3 1 .1 6 4 .3 8 1
1 2 ,6 1 6 ,9 4 8
7 ,1 3 1 ,4 0 5
7 ,4 0 6 ,4 9 4
157554690
1 ,4 0 0
1 6 " ,6 8 3 * 8 4 9
3 1 ,2 7 3 ,8 0 2
1 2 0 ,9 0 5
3 8 ,7 2 0 ,4 3 0
3 5 ,0 3 7 ,3 3 1
74 6 5 7 , 7 0 o
1 ,8 2 5 , 0 5 4
7 4 0 ,5 3 0
6 0 ,3 0 4
5 4 ,2 8 0 ,0 1 8
1 3 ,3 5 7 ,0 3 2
2 ,0 4 2 ,0 2 5
9 0 ,0 8 0 ,8 7 5
1 0 1 .7 0 7
3 9 ,5 3 7 ,5 5 8
3 5 ,4 1 8 ,0 1 9
74 0 5 5 5 7 8
1 ,7 7 4 , 1 0 1
7 5 5 ,7 0 4
0 4 ,7 8 9
5 4 ,7 0 0 ,1 5 3
1 5 ,5 2 0 ,0 3 2
2 ,1 1 3 ,0 5 0
102420835
1 ,4 8 5 , 3 8 8
9 4 5 ,2 2 1
7 ,5 1 8 ,5 1 2
1 4 ,5 1 2 ,0 0 7
1 ,5 8 3 , 5 3 3
1 ,0 0 2 , 8 0 1
1 5 ,0 5 0 * 3 6 7
9 8 ,8 4 3
5 0 2 .8 5 3
5 3 7 ,3 8 6
5 3 6 ,4 2 4
1 4 7 .0 6 6
0 8 2 .6 4 6
1 8 ,6 0 8
7 1 6 ,7 0 2
C urrent
Year.
P e r io d .
Y ea rs.
L a k e S h o r e A M ic h S o u t h e r n
L a k e E r i e A W e s t e r n ___________
C h ic a g o In d ia n a A S o u th e r n .
M ich ig a n C e n tra l
C l e v e C l n C h i c A S t L o u i s _____
P e o r ia A E a ste rn
C i n c i n n a t i N o r t h e r n ___________
P i t t s b u r g h A L a k e E r i c _______
R u t l a n d __________
N e w Y o r k C h i c a g o A S t L o u is
14035487
7 6 0 ,0 0 0
________
1 ,4 8 1 , 1 1 7
2 ,7 5 3 , 0 3 7
t r a l.
1 0 ,1 3 7
3 ,9 9 5 , 0 1 6
3 ,4 0 7 ,5 5 8
7 ,4 0 3 . 4 6 8
2 1 0 ,8 1 1
7 3 ,6 2 1
1 0 ,5 4 0
5 ,1 2 4 , 0 9 2
4 ,2 8 2 , 8 5 4
1 9 5 ,6 1 3
.> .0 0 2 ,5 0 0
t r a l.
1 4 9 ,4 3 0
2 0 3 ,2 3 5
1 to L a te st D a t e .
C urren t
c ea r.
1
1
1
1
1
to
to
to
to
to
J u ly
June
J u ly
J u ly
J u ly
31
30
31
21
21
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
June
June
June
June
June
June
June
June
June
June
June
June
June
June
June
June
M ay
Aug
June
30
30
30
3i
3(
30
30
30
30
30
30
31'
30
30
30
30
31
7
30
AGGREGATES OF GROSS EAR N IN G S— Weekly and Monthly,
W e e k ly S u m m a r ie s .
4 th
1st
2d
3d
4 th
1st
2d
3d
4 th
1st
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
M ay
June
June
June
June
J u ly
J u ly
J u ly
J u ly
Aug
(4 2
(4 2
(4 3
(4 1
(4 4
(4 3
(4 0
(4 0
(4 4
(3 3
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 ) -------rou ts
C u r ’ nt Y e a r P r e v ’ s
S
1 0 ,8 1 7 ,7 4 2
7 ,9 0 3 , 5 2 1
8 ,2 8 0 , 7 6 1
8 .3 4 4 , 0 1 8
1 1 ,5 6 5 , 4 3 0
8 , ‘M 1 .1 4 2
8 ,5 2 0 ,0 1 0
8 ,0 0 6 ,6 0 0
1 2 ,7 1 3 ,8 7 0
8 .1 1 1 .2 0 9
Year
S
1 5 ,2 1 9 ,7 5 1
9 ,9 6 3 , 5 5 1
1 0 ,2 6 3 ,1 7 1
1 0 ,1 5 3 ,7 7 4
1 3 ,8 3 1 ,1 5 2
9 ,4 2 0 ,0 1 0
0 ,7 6 2 ,6 6 8
9 ,0 0 1 ,4 1 0
1 5 ,3 2 3 .0 9 !
0 ,3 5 8 ,1 0 4
M o n th ly S u m m a ries.
I n c . or D e c .
—
—
—
—
—
—
—
—
—
—
4 ,4 0 2 , 0 0 9
1 ,9 7 0 , 0 3 7
1 9 8 2 ,4 1 3
1 ,8 1 3 , 8 5 6
2 ,2 6 5 , 7 2 2
1 ,1 3 4 , 8 6 8
1 ,2 4 2 , 6 5 3
1 ,3 5 4 , 8 1 0
2 ,6 0 9 ,2 2 ;
1 .1 6 3 .9 5 ,'.
2 8 .9 2
1 0 .8 2
1 0 .3 2
1 7 .8 5
1 6 .3 8
1 2 .0 4
1 2 .7 3
1 3 .6 0
1 7 .0 3
1 2 .4 4
M on th
M on th
M on th
M on th
M on th
M on th
M on th
M o n th
M o n th
Y to n th
Sept
O ct
N ov
D ec
Jan
F eb
M ch
Apr
M ay
June
1907
1907
1907
1007
1008
1008
1008
1903
1008
1008
(1 1 8
(1 2 0
(1 2 0
(1 2 3
(1 2 2
(1 2 3
(1 2 6
(1 1 0
(1 2 0
( 51
r o a d s ).
r o a d s ).
r o a d s ).
r o a d s ).
roa d s)
r o a d s ).
roa d s)
roa d s)
ro a d s )roa d s)
C u r ’ nt Y e a r P r e v 's
1 9 2 ,5 4 8 ,0 2 2
2 1 3 ,6 9 7 ,7 2 7
1 8 9 ,9 8 8 ,5 6 4
1 7 4 ,4 2 2 ,4 5 1
1 5 1 .7 5 8 ,4 0 0
1 4 1 ,2 5 6 ,2 0 6
1 6 2 ,4 0 5 ,0 8 9
1 5 4 ,1 3 7 ,1 6 ‘
1 5 3 .1 1 2 .6 2 :
4 6 .5 1 5 .4 6 ’
Y ea r
$
175 5 05 039
1 9 6 ,8 4 3 ,6 7 8
1 8 4 ,1 0 7 ,3 9 1
1 8 4 ,8 9 3 ,8 1 0
1 7 2 ,2 8 3 ,0 0 0
1 6 0 ,1 5 0 ,6 1 0
1 8 7 ,4 3 5 ,3 5 0
1 0 0 ,0 4 0 1 5 6
1 0 8 ,1 4 6 ,8 7 1
5 8 .8 0 0 .4 3 4
+ 1 7 ,0 4 2 .9 8 3
+ 1 6 .8 5 4 ,0 4 9
+ 5 ,7 9 1 1 7 3
— 1 1 ,4 7 1 ,3 5 0
— 2 1 ,5 2 4 ,6 0 0
— 1 8 ,8 0 4 ,4 0 4
— 2 4 ,0 4 0 ,2 6 1
— 3 5 ,9 0 3 .0 8 8
— 4 5 ,0 3 1 ,2 4 3
— 1 2 .2 8 4 ,9 7 2
9 .7 1
8 .5 6
3 .1 4
6 .2 0
1 2 .4 9
1 1 .7 0
1 3 .3 7
1 8 .8 9
2 2 .6 7
2 0 .8 9
a M e x ic a n c u r r e n c y
o I n c lu d e s e a r n in g s o f G u lf a C h ic a g o D iv is io n ,
c I n c l u d e s t h o H o u s t o n A l e x a s C e n t r a l a n d I ts s u b s i d i a r y l i n e s In b o t h
yoars
a C o v e r s li n e s d i r e c t l y o p e r a t e d ,
c I n c l u d e s t h e C h i c a g o A E a s t e r n I l l i n o i s In b o t h y e a r s .
1 In c lu d e s E v a n s v ille A I n d ia n a H R .
a I n c lu d e s
e a rn in g s o f C o l
A S ou th , F t
W o r t h A D e n v e r C i t y a n il a ll a f f i li a t e d lin e s , e x c e p t i n g T r i n i t y A B r a z o s V a lle y I .R k I n c l u d e s in b o t h v c a r s a . y i l l n g s
o f T e n v e r V ln u T A G i d f R R . . P e c o s V a l l e y S y s t e m a n d s 'a n t a P e P r e s c o t t A P h o e n i x R y .
{ T h e s e f i g u r e s d o n o t I h c l m t e r e c e l p s f r o m ^ a le o f c o a L
o F ig u r e s h e r e a r e o n t h e o ld
b a s is o i a c c o u n t i n g — n o t
th e n e w o r I n te r -S ta te C o m m e r c e C o m m is s io n m e t h o d ,
r 1 h esc in u r e s a re o n tn e n e w
h a u ls o r o s e r l b e d b v 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 i s s i o n .
408
[VOL. LXXXVII.
T H E CH R O N ICLE
1908.
B u ffa lo R o c h e s t e r A P it t s b u r g h
C a n a d i a n N o r t h e r n ________________
C a n a d i a n P a c l l l c ____________________
C e n t r a l o f G e o r g i a ---------------------------C o l o r a d o & S o u t h e r n _______________
D e n v e r A R i o G r a n d e _____________
D e t r o i t * M a c k i n a c _________________
D u lu t h S o u th S h o r e & A t la n t ic .
G r a n d T r u n k o f C a n a d a ________ 1
G r a n d T r u n k W e s t e r n ______ )
D e t r o i t G r H a v e n & M U w ____|
C a n a d a A t l a n t i c ______________ J
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 e e a n l c o f M e x i c o ___________
I o w a C e n t r a l . . ________ ____________
L o u i s v i l l e & N a s h v i l l e ____________
M e x i c a n I n t e r n a t o n a l ___________
M i n e r a l R a n g e _______________________
M i n n e a p o l i s & S t L o u i s ............... ..
M i n n e a p o l i s S t P a u l & S S M ___
M i s s o u r i P a c i f i c & I r o n M t n ___
C e n t r a l B r a n c h ____________
_
M o b i l e & O h i o .................. _ ....................
N a t i o n a l R R o f M e x i c o __________
H i d a l g o & N o r t h e a s t e r n _____
R i o G r a n d e S o u t h e r n _____________
S t L o u i s 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 l l l c _____________________
T o l e d o P e o r i a & W e s t e r n ________
T o l e d o S t L o u i s & W e s t e r n _____
W a b a s h ________________________________
T o t a l ( 3 3 r o a d s ) _________________
N e t d e c r e a s e ( 1 2 . 4 4 % ) ___________
1907.
In crea se.
$
1 3 6 ,3 5 9
1 7 4 .4 0 0
1 ,4 7 0 ,0 0 0
1 9 1 .4 0 0
2 9 5 ,4 5 0
3 6 7 ,9 0 0
2 2 ,0 3 0
5 6 ,4 8 2
S
1 8 4 ,5 7 6
1 9 6 .7 0 0
,5 6 5 ,0 0 0
2 1 8 ,1 0 0
2 5 8 ,5 6 3
4 4 2 .7 0 0
2 4 ,2 0 5
7 3 ,4 9 9
7 9 4 ,5 6 2
9 1 5 ,4 3 0
$
4 8 ,2 1 7
2 2 ,3 0 0
9 5 ,0 0 0
2 6 ,7 0 0
3 6 ,8 8 7
7 4 ,8 0 0
2 ,1 7 5
1 7 ,0 1 7
1 2 0 ,8 6 8
1 1 3 .0 0 0
1 4 5 .0 0 1
5 6 ,6 2 6
9 4 9 ,0 5 5
1 6 7 ,6 7 6
1 6 ,1 7 3
8 0 ,5 7 4
2 2 8 ,6 6 4
8 3 6 ,0 0 0
3 1 ,0 0 0
1 7 2 ,8 9 6
3 2 5 ,1 1 8
1 9 ,5 3 6
1 0 ,5 4 0
2 0 3 ,2 3 5
1 ,0 8 8 ,9 6 9
2 4 9 ,1 8 8
2 0 ,9 6 1
8 5 ,0 4 2
5 6 2 ,8 5 3
8 ,1 9 4 ,2 0 9
9 ,3 5 8 ,1 6 4
D ecrea se.
8 ,0 0 0
2 0 .0 4 7
3 ,6 9 8
1 1 5 ,9 4 0
3 8 ,9 4 3
" 9 ,7 2 7
1 6 ,1 7 0
7 8 ,0 0 0
R oa ds.
M a n l s t l q u e . b ........................ J u l y
J a n 1 t o J u l y 3 1 -------------
7 ,4 0 8
3 5 ,2 5 3
6 ,9 7 4
3 8 ,1 9 4
g M e x ica n T e l & T e l C o —
M c h 1 t o M a y 3 1 ...............
9 3 ,1 9 4
3 7 ,5 4 2
5 0 ,1 0 5
1 ,7 5 5
149
2 2 ,1 8 9
2 4 4 ,5 5 5
4 2 ,1 7 8
2 ,9 6 9
1 6 ,9 9 0
4 7 ,2 5 9
4 0 ,2 0 7
1 ,2 0 4 , 1 6 2
1 1 6 3 ,9 5 5
For the fourth week of July our final statement covers 44
roads and shows 17 .0 3 % decrease in the aggregate under
the same week last year.
P r e v i o u s l y r e p o r t e d (2 9 r o a d s ) . 1 0 ,6 7 8 ,8 8 3
1 1 4 ,7 9 1
A l a b a m a G r e a t S o u t h e r n ------------A la N ew O rl & T e x a s P a c lllc —
8 4 ,1 0 6
N e w O rle a n s & N o r t h e a s t e r n .
4 3 ,6 1 1
A l a b a m a & V i c k s b u r g ________
4 4 ,3 0 0
V ic k s b u r g S h rev e A P a c ll lc ..
1 ,9 8 0
G h a t t a n o o g a S o u t h e r n ____________
2 3 7 ,6 6 1
C h i c a g o G r e a t W e s t e r n -----------------2 2 9 ,7 2 2
C in e N e w O rl & T e x a s P a c l l l c ..
4 1 ,2 4 2
D e t r o i t T o l e d o A I r o n t o n ------------5 1 ,2 2 6
A n n A r b o r _________________________
4 7 ,5 6 4
G e o r g ia S o u th e r n & F lo r id a —
G r a n d T r u n k o f C a n a d a ________ 1
1 ,1 1 2 ,5 6 6
G r a n d T r u n k W e s t e r n -----------)
D e t r o it G r H a v e n & M U w .. I
C a n a d a A t l a n t i c ________________ J
T e x a s C e n t r a l _________________________
1 2 ,9 3 5 ,5 1 0
1 3 6 ,9 7 3
In c r e a s e .
D ecrea se.
$
5 ,7 5 0
S
,2 6 2 ,3 7 7
2 2 ,1 8 2
1 1 4 ,5 2 0
4 8 ,9 7 7
5 1 ,6 9 8
5 ,9 4 0
2 4 5 ,6 1 8
2 7 0 ,9 3 2
5 2 ,4 2 6
5 9 ,0 1 0
6 1 ,9 7 1
3 0 ,4 1 4
5 ,3 6 6
7 ,3 9 8
3 ,9 6 0
7 ,9 5 7
4 1 ,2 1 0
1 1 ,1 8 4
7 ,7 8 4
1 4 ,4 0 7
1 ,3 0 7 ,9 4 5
1 9 5 ,3 7 9
5 ,3 5 5
T o t a l ( 4 4 r o a d s ) -------------------------N e t d e c r e a s e ( 1 7 . 0 3 % ) ------------------
5 ,7 5 0 2 , 6 1 4 , 9 7 3
2 ,6 0 9 ,2 2 3
For the month of July the returns of 48 roads show as
follows:
M o n th o f J u ig .
1908.
G r o s s e a r n i n g s ( 4 8 r o a d s ) _________
1907.
D ecrea se.
$
3
5
5 0 ,6 9 3 ,0 4 7 6 0 ,3 9 5 ,1 5 7 9 ,7 0 2 ,1 1 0
%
1 6 .0 6
It will be seen that there is a loss on the roads reporting
in the amount of S9,702,110, or 16.06%.
Net Earnings Monthly to Latest D ates.—The table fol
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of July 25 1908. The
next will appear in the issue of Aug. 29.
--------- G r o s s E a r n i n g s ---------------- N e t E a r n i n g s ------C urren t
P r e v io u s
C u rren t
P r e v io u s
Y ea r.
Yea r.
Year.
Y ear.
$
$
$
$
H oa d s.
B e lle fo n te
C e n t r a l , b ____J u l y
J a n I t o J u l y 3 1 ________
B o s to n A A lb
A p r 1 to
Jan 1 to
J u ly 1 t o
4 ,9 5 3
3 3 ,4 9 3
5 ,5 3 1
3 6 ,9 2 0
1 ,2 7 1
4 ,5 9 9
1 ,9 9 5
1 1 ,4 4 2
any, b—
J u n e 3 0 ................ 2 , 6 6 3 , 8 0 6
J u n e 3 0 ________ 5 , 0 3 3 , 4 9 8
J u n e 3 0 _________ 1 1 , 5 7 5 , 5 0 1
3 ,1 2 6 ,6 9 9
5 ,8 1 2 ,0 0 0
1 2 ,0 9 7 ,3 0 1
4 1 4 ,8 8 5
2 1 3 ,2 4 6
9 4 5 ,4 7 3
5 6 2 ,0 7 5
8 4 5 ,7 1 6
1 ,9 4 3 ,1 0 2
x B o s t o n A M a i n e . b _____J u n e 3 , 0 4 5 , 6 0 2
J u l y 1 t o J u n e 3 0 ___________ 3 9 , 9 9 0 , 7 4 8
B r ld g e t’n A S a c o R l v .b .J u n e
J u l y 1 t o J u n e 3 0 ________
6 ,2 6 5
5 2 ,9 9 9
................
7 3 7 ,2 2 1
9 ,6 3 6 ,5 5 2
.
_________
4 ,4 8 4
4 7 ,0 5 0
3 ,0 6 6
1 6 ,9 6 2
1 ,3 4 9
1 3 ,6 7 5
C o p p e r R a n g e . b ____________l u n e
J u l y 1 t o J u n e 3 0 .................
7 4 ,9 1 9
8 0 7 ,3 2 2
7 8 ,1 2 2
8 1 9 ,2 9 2
1 6 ,5 8 7
2 0 4 ,0 4 2
2 9 ,0 8 7
2 8 5 ,9 3 5
C u b a R R ---------- ------------ . . . J u n e
J u l y 1 t o J u n e 3 0 _________
1 4 5 ,5 6 7
2 ,0 3 9 ,4 6 8
1 8 5 ,4 6 7
1 ,9 5 3 ,3 1 0
5 2 ,9 0 4
7 2 1 ,2 8 8
7 7 ,0 9 7
6 5 8 ,3 5 4
6 4 ,4 3 3
3 8 ,9 9 2
3 0 ,8 8 2
6 2 ,5 6 8
1 2 4 ,9 1 4
2 8 6 ,3 5 5
(le ft ,8 00
d e f l4 ,8 S 2
d e fl7 ,9 8 5
d e fl2 ,0 7 8
d e fl,2 1 0
1 0 ,0 8 6
C u y a h o g a T e le p h o n e C o J u n e
D u n k ir k
Apr
Jan
J u ly
A llc g h V a l
1 to J u n e
1 to June
1 to June
6 9 ,2 2 3
* P it t s .b — ■
3 0 . ..............
5 8 ,4 5 0
1 0 9 ,4 9 8
3 0 _________
3 0 _________
2 6 0 ,5 9 8
x G r e a t N o r t h e r n . b ________ J u n e 3 , 6 5 7 , 1 6 6
J u l y 1 t o J u n e 3 0 ___________ 5 4 , 3 9 2 , 4 7 2
6 5 5 ,6 8 3
1 8 ,2 3 6 ,6 5 6
.............
................
I l l i n o i s C e n t r a l . a .................. J u n e 4 , 1 9 3 , 0 9 2
4 ,8 8 2 ,8 9 1
1 ,7 2 9 , 8 6 2 1 , 6 4 8 , 9 4 0
J u l y 1 t o J u n e 3 0 ............... 5 4 , 0 6 7 , 3 9 7 5 6 , 6 1 0 , 6 3 3 1 3 , 4 1 7 , 1 3 0 1 6 , 5 4 5 , 1 0 9
L ak e S h ore
Apr 1
Jan
1
J u ly 1
&
to
to
to
M ic h
June
June
June
S o u .b —
3 0 ................. 9 , 1 8 2 , 8 5 1
3 0 ................ 1 8 , 3 4 0 , 2 1 5
3 0 ................. 4 1 , 7 0 4 , 1 5 2
L it t le F a lls
Apr 1
Jan 1
J u ly 1
& D o lg e v llle . b —
t o J u n e 3 0 .................
t o J u n e 3 0 _________
t o J u n e 3 0 . ..............
1 4 ,0 2 8
2 6 ,1 2 8
6 3 ,2 1 4
4 .1 6 0 ,4 0 0
2 1 ,5 8 9 ,5 3 8
4 3 ,5 2 6 ,8 2 0
1 4 ,1 1 1
2 7 ,3 3 7
5 9 ,4 2 5
2 ,3 5 5 ,7 5 1
2 ,5 6 6 ,4 9 3
4 ,8 5 7 ,6 9 9
5 ,2 7 6 ,2 6 6
9 ,9 9 6 ,4 4 7 1 0 ,9 4 8 .8 6 1
1 ,7 1 6
6 ,5 8 9
1 9 ,3 3 9
4 ,7 9 7
8 ,1 2 4
2 2 ,3 4 2
3 ,0 2 6
2 ,5 3 2
def 610
d e f3 ,1 4 7
9 8 ,9 5 0
4 1 ,7 1 2
4 1 ,0 5 3
220 445
2 ,4 8 1 ,8 9 3
2 0 3 ,9 8 5
2 ,5 0 8 ,3 1 0
N Y C h ic a g o
A p r 1 to
Jan
l to
J u ly 1 t o
& S t L o u is _ b —
J u n e 3 0 -----------J u n e 3 0 ------------J u n e 3 0 -------------
2 ,0 9 3 ,2 3 8
4 ,5 0 9 ,0 1 7
9 ,6 7 3 ,2 8 4
2 ,6 3 7 ,7 2 4
5 ,2 2 1 ,0 2 1
1 0 ,2 3 7 ,2 2 9
5 8 3 415
1 ,1 1 3 , 0 6 1
3 ,1 2 7 ,9 3 5
654 90S
1 .1 3 6 ,6 5 5
2 ,5 5 5 ,4 0 4
P a c l l l c C o a s t _______________ J u n e
J u l y 1 t o J u n e 3 0 -------------
5 9 2 ,2 8 6
7 ,2 7 2 ,9 5 8
7 3 0 ,2 8 )
7 ,4 0 6 ,4 ) 1
47 202
1 ,0 5 2 ,3 3 2
107 013
1 ,1 1 .) ,’ 3 7 0
x P e r e M a r q u e t t e , b --------J u n e 1 , 0 3 6 , 5 4 5
J u l y 1 t o J u n e 3 0 -----------------1 3 , 6 9 1 , 8 7 5
_________
R a q u e ttc L a k e .b —
A p r 1 t o J u n e 3 0 ...............
1 2 ,8 7 1
2 9 ,4 4 5
Jan
1 to June 3 0
J u l y 1 t o J u n e 3 0 ................
4 7 ,7 0 1
R io G ra n d e S o u t h e r n .b .J u n e
J u l y 1 t o J u n e 3 0 -------------
5 1 ,4 4 5
6 0 5 ,7 5 3
S ou th ern R U I w iy —
G a S o u iu e r n & F la a . J u n e
J u l y 1 t o J u n e 3 0 ----------------
2 4 9 1 40
2 .7 8 8 J 1 5
d e f 753
7 ,0 6 1
3 ,1 0 6
d e f.3 ,2 0 5
d e f 988
5 ,7 2 2
5 0 ,2 6 5
6 0 9 ,6 0 3
2 3 ,1 0 4
2 2 6 ,3 3 2
1 8 ,0 9 6
236J38
1 3 7 ,5 9 5
1 ,9 6 3 ,5 4 6
1 5 ,0 3 0
2 7 4 ,3 1 6
1 2 9 ,5 5 6
1 ,3 0 0 , 2 1 2
9 3 ,3 9 4
T o l S t L * W e s t e r n .a .-J u n e
J u l y 1 t o J u n e 3 0 -------------
3 7 7 ,1 7 7
4 ,1 8 1 ,9 6 5
2 8 4 ,5 1 6
3 ,8 2 2 ,2 6 7
W a b a s h . b ________________ J u n e 2 , 1 4 7 , 4 6 7
2 ,4 9 3 ,7 9 5
J u l y 1 t o J u n e 3 0 ---------------- 2 5 , 7 4 0 , 0 7 0 2 7 , 4 3 2 , 4 6 7
6 0 0 ,6 6 3
Y a z o o & M i s s V a l . a -------------J u n e
J u l y 1 t o J u n e 3 0 ------------- 9 , 7 0 4 , 6 0 3
__________
5 ,5 8 2
1 4 ,0 2 1
4 2 ,6 8 0
T o l P e o ria & W e s t .b — J u n e
1 0 5 ,9 9 8
J u ly 1 t o J u n e 3 0 1 ,2 2 1 ,4 7 8
9 0 ,1 5 6
J u l y .....................................................
3 1 ,3 5 9
2 1 1 ,3 1 8
1 9 ,3 0 1
IIIIII
41 3 6 3
2 8 9 151
1 2 ,7 2 1
p 9 0 ,7 0 9
x>145 6 5 1
p i , 1 2 1 ,3 3 3 p i , 2 4 5 3 ) 6 7
6 8 2 ,0 1 6
6 ,8 9 6 ,3 2 6
7 3 3 ,8 8 7
9 ,4 9 3 ,6 5 9
d e f8 ,0 8 9
1 ,0 2 5 , 7 7 1
791 558
7 ,9 2 7 ,3 2 3
96 022
1 ,4 2 6 ,6 8 4
a N e t e a rn in g s h e re g iv e n a re a fte r d e d u c t in g ta x e s .
b N e t e a rn in g s h e re g iv e n a re b e fo r e d e d u c t in g ta x e s .
c F ig u r e s r e v is e d fo r p r e v io u s y e a r s o a s t o a c c o r d w it h t h e n e w c la s s ific a
tio n o f e a rn in g s a n d e x p e n s e s n o w r e q u ir e d b y th e I n t e r -S t a t e C o m m e r c
C o m m is s io n .
g T h e s e r e s u lt s a r e In M e x i c 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 h a r g e s a n d c r e d its t o I n c o m e w a s $ 2 6 7 ,9 5 9 ,
a g a i n s t $ 6 , 5 4 8 I n 1 9 0 7 . a n d f o r p e r i o d f r o m J u l y 1 t o . l u u e 3 0 w a s $ 3 0 1 ,2 8 6
In 1 9 0 8 , a g a i n s t $ 3 3 , 8 3 7 In 1 9 0 7 .
x T h e s e fig u r e s a r e o n
C o m m e r c e C o m m is s io n .
1908.
F o u r t h w eek o f J u l y .
-------N e t E a r n i n g s ------C u rren t
P r e v io u s
Y ea r.
Y ea r.
$
8
N a sh v C h a t & S t L .b -- J u n e
7 7 9 ,3 1 3 1 ,1 1 3 ,7 9 4
J u l y 1 t o J u n e 3 0 -------------- 1 0 , 8 0 2 , 0 3 5
1 2 ,2 3 3 ,4 7 2
-
F i r s t w eek o f A u g u s t .
--------- G r o s s E a r n i n g s --------C urren t
P r e v io u s
Y ea r.
Y ea r.
S
s
.
Latest Gross Earnings by W eeks. — In the table which
follows we sum up separately the earnings for the first week
of August. The table covers 33 roads and shows 1 2 .44%
decrease in the aggregate under the same week last year.
t h e b a s is o f a c c o u n t i n g
re q u ir e d
by
In te r-S ta te
Interest Charges and Surplus.—The following roads, in
addition to their gross and net earnings given in the foregoing,
also report charges for interest, &c., with the surplus above
or deficit below these charges.
— I n t . , R e n t a ls , & c .—
C urren t
P r e v io u s
Yea r.
Y ea r.
$
$
R oa ds.
B e l l e f o n t e C e n t r a l --------------J u l y
J a n 1 t o J u l y 3 1 ________
257
2 ,7 9 9
B o s to n A A lb a n 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 ________
8 4 9 ,1 5 5
1 ,6 8 8 ,6 4 6
B r l d g e t 'n & S a c o R l v . - J u n e
J u l y 1 t o J u n e 3 0 ________
572
7 ,0 9 8
C o p p e r R a n g e . . ................ J u n e
J u l y 1 t o J u n e 3 0 ________
1 2 ,4 3 7
1 4 9 ,8 5 0
C u b a R R ------------------------------- J u n e
J u l y 1 t o J u n e 3 0 ________
3 2 ,3 5 3
3 6 5 ,8 6 3
D u n k ir k
Apr
Jan
J u ly
A llc g h V a il A P l t t s 1 t o J u n e 3 0 ________
1 t o J u n e 3 0 ________
1 t o J u n e 3 0 ________
303
2 ,1 2 1
— B a l. o f N e t E 'n g s .—
C urren t
P r e v io u s
Yea r.
Y ea r.
$
$
1 ,0 1 4
1 ,8 0 0
1 ,6 9 2
9 ,3 2 1
8 6 2 , 7 9 3 r d e f 3 4 6 ,4 6 3 x d c f 1 8 9 ,0 8 4
1 , 7 4 8 , 1 2 3 .r d e f l , 2 8 3 ,3 5 9 £ d e f 6 9 4 5 2 9
:d e f l9 2 7 8 3 8 z d e f 1 2 2 2 5 5 2
543
2 ,4 9 4
806
6 ,5 1 9
9 ,8 6 4
7 ,1 5 6
1 2 ,4 3 7
4 ,1 5 0
1 6 ,6 5 0
1 0 1 ,2 5 0
5 4 ,1 9 2
1 8 4 ,6 8 5
2 8 ,3 2 9
2 0 ,5 5 1
4 8 ,7 6 8
3 2 5 ,9 3 0
3 5 5 ,4 2 5
3 3 2 ,4 2 l
3 ,5 4 6
3 ,5 4 6
7 ,0 9 2
1 3 ,5 3 6
£ d e f8 ,2 1 6
£ d e f 2 1 ,7 0 1
£ d e f 3 0 ,3 5 4
£ d e f 1 5 ,4 0 4
£ d e f 8 ,0 2 2
£ d e I 2 ,9 5 l
x l ,0 7 5 ,7 5 0
£ 2 ,2 4 2 ,6 9 7
£ 6 ,0 1 0 ,8 1 5
£ 1 ,4 0 1 ,4 9 2
£ 3 ,0 1 9 ,5 9 9
£ 7 ,0 9 0 ,2 2 9
L ak e S h ore
Apr 1
Jan 1
J u ly l
&
to
to
to
M ic h
June
June
June
Sou—
3 0 ............ ..
3 0 ...............
3 0 ________
2 .2 5 5 .0 0 1
4 .5 6 5 .0 0 2
9 ,1 0 2 ,0 5 2
L i t t l e F a lls
Apr 1
Jan
1
J u ly l
&
to
to
to
D o lg e v llle —
J u n e 3 0 ________
J u n e 3 0 ________
J u n e 3 0 ________
2 ,5 1 6
4 ,3 9 1
1 0 ,0 4 9
2 ,5 1 6
4 ,8 4 1
9 ,9 4 1
£ d e f 703
£ 2 ,8 4 2
£ 9 ,9 5 4
£ 2 ,5 2 4
£ 3 ,5 2 6
£ 1 2 ,6 4 4
N a s h v C h a t & S t L ______J u n e
J u l y 1 t o J u n e 3 0 ________
1 4 2 ,6 8 6
1 ,8 1 5 ,9 6 7
1 5 1 ,8 4 4
1 ,7 9 4 , 3 3 1
7 7 ,7 5 9
6 4 8 ,9 3 1
5 8 ,1 4 1
7 1 3 ,9 7 9
4 4 3 ,1 9 1
8 2 6 ,8 7 2
2 ,4 5 5 ,3 6 7
3 3 9 ,7 3 5
6 5 1 ,3 4 3
1 ,6 7 6 , 2 9 1
£ 1 5 8 ,9 2 5
£ 3 2 1 ,2 9 9
£ 7 5 6 ,5 1 2
£ 3 1 7 ,3 6 7
£ 4 8 9 ,9 0 2
£ 9 0 9 ,5 0 1
3 ,1 2 5
6 ,4 3 7
1 4 ,4 7 4
3 ,1 2 5
6 ,9 4 9
1 4 ,6 1 8
£ d e f 3 ,6 0 5
£ l ,1 2 3
£ d e f 1 0 ,3 9 1
£ d e f5 ,9 7 3
£ d e f7 ,3 3 2
£ d e f7 ,7 8 5
17,584
£302
£ 2 5 ,5 0 9
N Y C h ic a g o A S t L o u is —
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 ________
R a q u e ttc L a k e—
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 ________
R i o G r a n d e S o u t h e r n ____ J u n e
J u l y l t o J u n e 3 0 ...............
2 2 1 ,3 1 0
1 8 ,0 5 2
2 2 0 ,1 1 0
£ 6 ,3 6 4
£ 3 1 ,0 3 6
T o le d o P e o ria & W e ste r n J ’n e
J u l y 1 t o J u n e 3 0 ________
1 1 ,6 2 6
3 3 0 ,5 7 4
2 1 ,6 3 4
£ 2 0 ,0 6 7
£ d e ! 8 1 ,1 3 3
1 9 ,7 2 9
1 ,6 7 2
J u l y .....................................................
2 4 ,4 0 7
2 3 ,6 0 9
£ d e f4 ,6 0 0
£ d e f3 ,0 5 1
x A fte r
a llo w in g
fo r
o th e r
In com e
r e c e iv e d .
STREET RAILWAY AND TRACTION COMPANIES.
L a te s t G r o s s E a r n i n g s .
N a m e of
R oad.
A m e r i c a n R y s C o -------c A u r E lg in & C h ic R y
B a n g o r R y & E le c C o
B in g h a m to n R y
B lr m R y L t & P o w e r
B o s to n A W o r c e s te r .
B r o c k to n & P ly S t R y
C a m a g u e y C o . . ............
C a p e B r e to n E le c C o .
C e n t r a l P e n n T r a c ___
C h a rie s t C o n R y G A E
d C h ic a g o A O a k P a rk
C le v e P a ln e s v A E a st
C o lu m b u s E le c tr ic C o
D a l l a s E l e c t r i c C o ____
t D e t r o it U n it e d R y .
D u l u t h S t r e e t R y ___
E a s t S t L o u is A S u b .
E l P a s o E l e c t r i c _______
F t W a y n e A W abash
V a lle y T r a c t io n C o .
G a lv -H o u s E le c C o . .
W eek or
M o n th .
C urren t
Year.
P r e v io u s
Year.
M a y .............
J u n e _______
M a y .............
J u n e _______
M a y _______
f u l y ............
J u n e _______
M a r c h _____
A p r i l _______
1 th w k J u l y
1 th w k J u l y
J u n e .............
M a y _______
t
2 5 4 ,3 7 0
1 2 5 ,5 9 2
3 9 ,2 3 2
2 6 ,6 3 8
1 9 4 ,2 9 3
4 6 ,1 5 6
1 0 ,6 4 3
1 1 ,1 9 5
2 1 ,1 7 2
6 4 ,8 2 3
6 $ ,6 9 3
6 2 ,7 2 4
2 7 ,0 6 8
2 8 ,7 0 1
0 1 ,6 1 7
2 0 5 .4 8 3
2 5 ,3 0 3
1 0 6 ,7 2 9
4 2 ,6 3 4
$
2 6 6 ,0 5 8
1 3 6 ,9 0 9
3 0 ,2 1 8
1 5 ,3 6 4
1 6 1 ,0 9 3
4 2 ,8 3 6
9 ,7 7 2
6 ,0 1 2
2 0 ,1 5 4
6 6 ,3 2 6
6 1 ,3 9 9
6 7 ,7 4 7
2 7 ,3 8 7
2 0 ,4 5 0
8 4 ,1 7 1
2 0 8 ,4 5 3
2 7 ,6 8 1
1 8 3 ,4 1 3
4 0 ,5 3 6
J u n e _______
M a y _______
1 1 0 ,0 3 4
9 1 .0 2 4
1 0 7 ,3 0 7
8 5 ,6 0 5
J u n e _______
J u n e _______
M a y _______
J u n e _______
J a n . 1 to la test d a te.
C u rren t
Y ea r.
P r e v io u s
Y ea r.
$
1 ,3 2 5 ,1 0 0
6 1 7 ,8 8 5
i
1 ,3 6 9 ,1 4 2
6 3 2 ,7 7 1
1 1 5 ,5 0 6
1 ,0 0 4 ,8 2 5
1 0 1 ,2 5 0
1 ,0 3 6 ,2 8 0
3 8 ,9 8 0
5 3 ,5 1 2
9 5 ,5 6 5
3 3 5 ,1 4 0
3 0 0 ,0 4 0
4 6 7 ,2 5 1
1 2 5 ,2 5 9
6 7 ,9 7 7
3 5 2 ,8 6 5
3 ,9 2 3 ,8 5 1
4 9 1 .1 6 3
9 7 7 ,9 9 6
2 1 8 ,4 7 6
3 6 ,0 9 6
3 6 ,2 6 2
8 7 ,5 2 6
3 4 7 .0 1 0
2 8 0 .6 7 0
4 9 3 ,7 6 7
1 2 3 ,1 8 7
7 8 ,7 2 4
3 3 9 ,0 6 0
3 ,9 5 1 ,5 0 8
4 6 9 ,6 4 0
1 ,0 0 3 ,4 0 4
1 9 2 ,6 4 2
6 1 5 ,2 0 0
4 1 3 ,3 4 0
5 6 9 ,2 7 7
3 9 2 ,0 0 1
Week or
Month.
Previous
Year.
Current
Year.
Grand Raolds R y Co- J u n e ______
vVk Aug 2
Havana Electric R y
Honolulu Rapid Tran
& Land C o------------ May --------Houghton CoSt R y - . May ..........
Illinois Traction C o_. l u n e _____
Jacksonvllle Elcc C o. May _____
Kans City R y & L t .. l u n e _____
K noxvllle R y& Lt Co J u n e -------Lake Snore E lectric.. J u n e ___
Lex * Inter Rys Co . l u n e _____
Little R ’ U R y & El Co J u n e ______
Memphis Street R y . . J u n e ..........
Met vVVst Side E le v .. m ly -------Mllvv Elec R y & Lt Co J u n e ..........
MllwLt H t & Trac Co l u n e _____
Montreal Street R y .. W k Aug 1
Nashville R y & Light J u n e _____
N J & li R Ry& EyCo J u n e _____
North Ohio Trac & Lt J u n e _____
North Texas Elec Co. A p r il______
Norf * Portsm Tr Co. J u n e _____
No Westchester Lt Co May ...........
Nortinvestern E le v .. July _____
Oklahoma City R y . . J u n e _____
Peeksklll Light & RR May _____
Pensacola Electric Co M arch ____
Portl and Ry L & P Co J u n e _____
Porto Rico R ys C o ___ May ..........
Rio de Janeiro Tram
Light & Power____ J u n e ..........
St Joseph (Mo) R y Lt
Heat & Power C o -. J u n e ______
Sao Paulo Tr Lt & P. J u n e _____
Savannah Electric Co May ..........
Seattle Electric C o .. May _____
South Side Elevated. July _____
Sou Wisconsin R y Co J u n e ______
Springfield R y& L t Co J u n e _____
Syracuse Rap Tr R y . J u n e _____
Tam pa Electric C o .. May ..........
Toledo R ys & L ight. J u n e _____
Toronto Railw ay____ IVk Aug 8.
Twin City Rap Tran 4th wk July
k Underground El Ry
of London, three
tube lin e s -------------- W k Aug 1.
Metropolitan Dlst W k Aug 1.
United Tram wavs W k Aug 1 .
United R R of San Fr. May _____
United R ys of St L ._ J u n e ..........
W hatcom Co R y& Lt May _____
Current
Year.
Previous
Year.
$<5,324
34,870
$88,022
36,184 $1,122,332 $1,030,467
31,417
21.504
324,272
37,668
515,440
48,977
78,827
54.983
54,046
140,883
203,28b
323,937
79,730
72,610
130,995
56,882
174,444
79,351
1104,527
9,039
154,167
23,771
12,314
19,205
392,272
28,921
31,801
20,775
307,119
32,384
5 1 5 ,8t6
51,852
83,554
45,474
52,743
144,709
210,45,
324,620
77,762
72,468
128,273
48,068
182,242
79.052
254,247
8,087
141,891
25,639
12,424
17,284
351,562
27,733
151.230
07,960
1,913,518
174,751
150,454
91,726
1.706,318
158,237
272’,090
3 8 6 ,26i
280,32^
330,732
775,068
1,513,011
1,860,507
360.471
282,029
401,514
240,606
290,316
764,644
1,501,266
1,826,087
344,126
760,050
238,305
837,743
316,515
1875,C20
48,023
1,004,445
121,603
60,256
52,730
2,098,802
146,414
740,501
200,223
840,257
313,052
1,100,180
971,350
116,928
59.330
51,961
1,826,058
130,022
575,003
524,622
3,339,91!
2,980,746
72,344
180,600
48,097
380,901
177,201
14,078
61,868
109,740
45,405
201,706
67,482
181,600
76,506
162,971
43,332
339,616
173,496
14,007
00,579
103,083
43,612
212,098
67,856
180,698
413,055
1,142,408
232,388
1,806,842
1,237,312
73,441
405,689
1,027,472
231,801
1,562,505
1,105,185
72,760
626,940
226,887
1,230,375
503" 664
212.210
1,245,318
3,581,839
3,418,023
£350,985
£269,781
£190,107
2,700.257
5,163,556
147.110
£202,025
£230,172
£186,774
2.305,676
5,287.612
137,067
£10,735
£8 773
£8,382
001,914
915,331!
28,958
£8,525
£7,289
£7,527
129,640
901,189
23,004
c These figures are Tor consolidated com pany, d These arc results for
main line, f No earidngs for Detroit Jackson & Chicago R y. for Jan. 1007
Included In these t1gur<-s.
k Does not include the Charing Cross Euston
& Hampstead R y. for first six months of 1907.
I Decrease due to James
town Exposition last year.
S t r e e t R a i l w a y N e t E a r n i n g s . — The following table gives
the returns of ST R E E T railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Aug. 1 1908. The
next will appear in the issue of Sept. 5 1908.
n
77V»
----------KJt l/OO JJj
Roads.
In te r n a t’l R y C o (B u ffa lo) b
A p r 1 to Jun e 3 0 -------Jan 1 t o Jun e 3 0 -------J u ly 1 t o June 3 0 -------C rosstow n Street R y . b —A p r 1 t o Ju n e 3 0 ----------Jan 1 t o Jun e 3 0 .............
J u ly 1 t o Jun e 3 0 ----------K in g s to n C on sol R y . b —
A p r 1 t o Jun e 3 0 ---------Jan 1 to Jun e 3 0 .............
J u ly 1 t o Jun e 3 0 ---------O n eid a R a ilw a y , b —
A p r 1 to Jun e 3 0 _______
R o c h e s te r R y . b —
A p r 1 to Jun e 3 0 _______
Jan 1 to Ju n e 3 0 .
J u ly 1 t o Jun e 3 0 .
S ch u y lk ill R y C o . a —
J u ly 1 t o Jun e 3 0 _______
U tica & M ohaw k V a lle y , b —
A p r 1 t o Jun e 3 0 _______
Jan 1 t o Ju n e 3 0 .
_______
_____ 7\Tct TPn TTiln/ia ■ — »
Current
Year.
$
Previous
Year.
$
Current
Year.
$
Previous
Year.
8
1.084,540
2,072,171
4,051 576
1,115.005
2,112,003
4,522,923
425,743
753,111
1,790,591
372,923
703,408
1,824,143
158,035
307,152
662,075
168,313
326,367
663,095
64,199
110,463
264,225
58,723
119,386
282,038
38,620
62,519
141,951
34,679
61,090
141,077
16,467
22,280
48,781
9,271
17,779
56,026
73,029
15,351
23,968
3,012
659,094
1,256,310
2,62 148
642,659
1,204,417
2,430,310
223,565
408,891
787,888
257,105
460,376
889,381
206,479
202,262
102,179
96,289
273,162
509,218
281,105
520,399
115,885
198,080
86,265
174,600
a N et earnings here g iv e n are a fte r d e d u ctin g ta x e s,
b N et earnings here g iv e n are b e fo re d e d u ctin g ta x e s .
I n t e r e s t C h a r g e s a n d S u r p lu s .
— Int., Rentals, & c . —
Current
Year.
Roads.
$
Internat’l R y Co (Buffalo) —
Apr 1 to June 3 0 ---------284,537
Jan 1 to June 3 0 ---------566,967
July 1 to June 3 0 ----------- 1,139,078
Previous
Year.
$
252,937
501,795
096,574
— Bal. of Net E’ngs.—-
Current
Year.
Previous
Year.
8
£159,052
£137,443
£219,848
£234,240
£734,849 £ 1 ,012,100
Crosstown Street R y—
Apr 1 to June 3 0 ----------Jan 1 to June 3 0 .............
July 1 to June 3 0 -----------
49,371
98,384
198,220
50,143
96,217
192,922
£16,133
£20,689
£71,184
£9,852
£25,757
£84,306
Kingston Consol R y Co—
Apr 1 to June 3 0 .............
Jan l to June 3 0 ----------July 1 to June 3 0 ----------
10,448
20,540
48,590
10.025
20,050
48.025
£6,144
£1,996
£706
£def 629
£def2,004
£9,168
Oneida Railway—
A pr 1 to June 3 0 -----------
5,540
523
£23,480
£2,578
Rochester R y —
Apr 1 to June 3 0 ---------Jan 1 to June 3 0 ---------July 1 to June 3 0 -----------
122,490
241,398
454,893
146,431
252,434
461,593
£102,082
£169,534
£338,226
£111,012
£216,920
£449,176
68,500
68,402
33,679
27,887
81,859
163,472
81,181
161,051
£37,212
£12,119
£5,613
£14,497
Schuylkill R y C o July 1 to June 3 0 ---------U llea & Mohawk Valley—
Apr 1 to June 3 0 . ..........
Jan 1 to June 3 0 -----------
x After allowing for other Income received.
A N N U A L R EPO R TS.
Jan. 0 to latest date.
Latest Gross Earnings.
Nam e of
Road.
4 09
TH E CHRONICLE
A u g . 15 1908. j
C a n a d ia n P a c ific R a ilw a y .
f o r Y e a r e n d in g J u n e 30 1908.)
The results for the fiscal year were as follows:
(S t a t e m e n t
38,696,446
1904-05.
50,481,882
35,0 0 6 ,7 9 4
5 8 0 ,0 0 0
6 ,0 8 4 ,0 0 0
1 ,6 0 0 ,1 3 3
2 3 0 ,0 0 0
5 ,5 7 7 ,0 0 0
1 ,5 1 4 ,1 3 3
1 0 0 5 -0 6 .
1906-07.
1907-08.
Gross earn in gs_________ $71,384,174 $72,217,528
46,914,219
Operating exp enses____ 49.591.8C8
Net earnings_________ $21,792,366 $25,303,309
2,364,480
2,654,633
Int. rec. and SS. e a rn s ..
Total net Income____ $24,446,999 $27,667,789
Fixed charges and pen
$8,511,756
sion fund_____________ $8,770,077
780,000
880,000
For steamships_______ .
*7,3 0 0 ,8 0 0
Dlv. on common (6 % ) . .
7,30 0 ,8 0 0
1,736,228
D lv. on preferred ( 4 % ) .
1,916.107
Balance, surplus______ $5,579,715
$9,339,005
* Also 1 % extra paid In 1906-07 and 1907-08 from Interest on land sales,
v iz., 14% April 1 and J4% O ct. 1 .— V . 87. p. 340.
N a s h v ille C h a t t a n o o g a
&
S t. L o u is R y .
(S ta te m e n t f o r the Y e a r e n d in g J u n e 30 1908.)
The following is a comparative statement for four years:
1907-08.
1906-07.
Gross earn in gs__________ $10,802 ,035 $12,238 ,472
Operating exp enses____
8 ,337,136
9,730,161
.
N et earnings--------Interest --------------------- . . .
Taxes ---------------------- . . .
R e n t a ls _____________
$2,464,899
$946,620
242,740
626,607
$2,508,311
$047,640
220.231
626,460
Balance, surplus______
— V . 87, p. 167.
$648,932
$713,980
S t. L o u is
S o u th w e ste rn
1905-06.
1904-05.
$ 1 1,120 ,982 $ 1 0,113 ,057
8 ,354,913
7 ,5 5 2 .6 5 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
$ 2 ,5 6 0 ,4 0 7
$ 9 5 5 ,9 8 1
2 1 8 ,7 5 3
6 2 5 ,8 7 8
$971,537
$759 ,79 5
R a ilw a y .
(Sta te m e n t f o r F i s c a l Y e a r e n d in g J u n e 30 1908.)
The results for the fiscal year ending June 30 compare with
those for the previous year, which have been revised so as to
accord with the new classification now requiredj^by the
Inter-State Commerce Commission, as follows:
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 .
1908.
1907.
Inc. or Dec.
Gross earnings _________________ $9,085,046
$10,261 ,336
Dec. $676,290
7 ,564,986
Inc.
216,841
Operating expenses--------------------- 7,781,827
. $1,803,219
.
644,900
Other Income
Total In co m e_________________
♦Prop. of fixed charges, taxes,
rentals, & c------------------------ — ’
Balance, su rp lu s_____________
$2,696,350
540,036
Dec.
Inc.
$893,131
104,864
$788,267
$3,236,386
Dec.
1,997,875
1,855,314
Inc.
142,081
$450,244
$450,244
$1,380,572
Dec.
$930 ,3 2 8
♦Does not Include Interest on income bonds, $1 3 0 ,4 2 0 .— V . 85. p. 8 6 1 .
C h ic a g o
&
W e s t e r n I n d ia n a R R .
(R e p o r t f o r F i s c a l Y e a r e n d in g D e c . 31 1907.)
The report issued under date of June 2 shows:
ADD ITIO NS DURING YEAR 1907,
Aggregating $5,060,738, against $3,277,917 in 1906.
1906.
1907.
1 90 7.
1906.
5
$
S
$
Belt Railway Co.—
Track elevation, 18th
Account lease July
to 72d streets—
593,328
1 1902 ................ 434,462
Main tracks............ 945.279 1,587,890
Heal estate---------- ----------125.841 Chicago 4 Eastern
Illinois R R.—
Right of way_____ 2,528,575
..............
23,459
Lease July 1 1903.
22,007
Add'l right of way 259,900
182,792 Wabash RR. Co.—
In terest, & e .......... 151,893
163,067
Leases___________ 333,673
C. & Erie HR. Co.
201,694
51st St. Yard . .
62,549
5,060,738 3,412.900
Wabash RR. Co.
116,614 Less net proceeds
47th St. Y a rd .. 182.149
from
land
taken
by
C. & E . Ill RR.Co.
the Sanitary Dis
274,608
72.531
33d St. Y a r d ...
trict of Chicago.................—
134,983
26,513
17.93S
Block signals, &c----8,972
_____________________
49,782
Add'l sidings, 4 c . . .
5,060,738 3.277.917
Dearborn Station---- -------------108,123
R EVEN U E. E X P EN SE S, ETC
1905.
1906.
1907.
Revenue—
$1,428,230
$1,517,140
Rental from lessees-------$1,924,709
58,323
5 7 ,5 7 4
5 8 ,8 7 7
Rental f ’ m houses&lands
4,722
3 ,2 8 6
6 ,2 7 4
Discount, lnt. & exch’ge
14,276
2 6 ,3 5 8
1 6 ,2 4 2
Miscellaneous earnings..
115,164
1
1
7
,2
8
9
1
0
2
,7
0
6
Suburban pass, earnings
$2,108,806
Expenses—
Interest charge--------------- $1,639,937
300,000
Dividends ( 6 % ) ------------26,298
M iscellaneous----------------112,514
Suburban pass, expenses
1904.
$1,316,334
55,454
1 ,4 8 3
6 0 ,7 3 1
$1,721,647
$1,620,715
$1,434,002
$1,232,975
300,000
23,960
137,298
$1,143,500
300,000
24,972
105,487
$ 1 ,0 3 1 ,6 6 5
300 ,0 0 0
8 0 ,9 4 6
$1,412,611
$1,573,959
$1,694,233
52,078,749
$21,391
$27,414
$46,756
$30,057
BALAN CE SHEET DEC. 31.
1907.
1906.
1907.
1906.
Liabilities—
S
S
Assets—
5
S
Construction acct.39,822,771 34,762,033 Stock .................... 5,000,000 5.000,000
Equipment..........- 1,604,776 1,587,727 B on d s.............. ...38,203,667 31,341.667
9 96 ,668
805 .538 3-year coll, notes
Bills and accounts
Feb. 1 1907____ 8,000,000
................
Cash, Including for
994,805 Vouch .&cur .accts. 1,613,235 1,920.589>
coupons ...........
904,679
56,556
53,925
751,249 Sinking funds____
Material ..............462,679
422,398
392,808
5.091,000 Interest accrued. .
Bonds on hand______________ 709,000
Int.accr’don3-yr.
Bonds held as col
coll, notes.........
160,667
lateral for 3-year
18,615
Miscellaneous____
17,795
n otes..... ............. 10,000,000
Bills payable.........
676,350 4,950,900
3 1 3 ,8 4 8
Income account..
343,905
Balance, surplus
Total ..................54.500,573 43,992,352
— V. 87, p. 36.
R a ilw a y
&
T o ta l..................54,500.573 43,992,352
L ig h t S e c u r it ie s C o ., B o s t o n .
(R e p o r t f o r F i s c a l Y e a r e n d in g J a n . 31 1908.)
P R O F IT A N D LO SS Y E A R S E N D IN G J A N . 31.
1907-08.
1906-07.
Underlying and investment bond Interest received
„ „
and accrued---------------------------------------------------------------Dividendson Investment s to c k s.----------------------------------------------Interest on bank deposits, <Scc---------------------------------- ------------_________________
$134,888
$120,384
5 l ? a ’? a
‘ “ 'J r,
410
[Vol. lxxxvh.
T H E CHRONICLE
1007-08.
$25,000
10,240
5,516
1906-07.
$24,404
545
7,422
5,801
Protit from In co m e________________
Profit on securities bought and sold
$94,126
4,234
$82,122
39,087
Preferred stock dividends (6 % )
$98,360
60,000
$121,209
60,000
$38,360
$01,209
Collat. trust bond lnt. paid and accrued.
Discount— Series bonds-----------------------------Interest on notes paid and accrued----------E x p e n s e s ___________________________________
Net proilt carried to su rp lu s ..
31.
1908.
$
1907.
$
Assets—
Investment securities
■ Bonds (book v al.)zl,940,000 2,031,665
Stocks (book val.) j/297,258
342,742
Syndicate subscrip
tion (book value). 101,841
_______
Accrued lnt. recelv.. 38,752
35,671
Ca h ...........................
17,296
44,139
1908.
1907.
$
$
____ 1,000,000 1,000,000
------- 600,000
600,000
9, 1st
i------ 500,000
500,000
____ 224,000
255,000
/able
6,250
7,021
------- 270,957
92,196
T o ta l.......................2,401,207 2,454,217
T o t a l .......................2,401,20732,454,217
Par value of the bonds Is $2,136,000. y P a r value of the stocks Is $399,700.
After deducting reduction of book value of assets, $59,599. Compare V. 85, p. 34i_
x
United Wireless Telegraph Co.
(Report for Fiscal Year ending Nov. 30 1907.)
(Owns a controlling interest in the American De Forest
Wireless Telegraph Co. and also, it is asserted, some inter
est in the Marconi Wireless Telegraph Co. of America (V. 84,
p. 512), though the extent of the latter interest does not ap
pear in the data furnished to the public. Compare V . 85.
p. 158.—Ed.)
President C. S. Wilson says in substance:
T h e c o m p a n y began a c t iv e bu sin ess F e b . 14 1907.
D u rin g the y e a r a
la r g ; n u m b er o f sh ips h a ve been e q u ip p e d on the A tla n tic C o a st, an d a ch ain
o f coa s t station s c o m p le te d fro m N ew Y o r k to G a lv e s to n , T e x .
W e have
a lm os t c o m p le te d on the P a cific C oa st a ch ain o f w ireless station s from
San D ie g o , C a l., to V a n c o u v e r . B . C. T h is ch ain w ill be e x te n d e d du rin g
the sp rin g and su m m er in to A la sk a .
T h e first vessel to use o u r a p p a ra tu s on the P a cific C oast w as e q u ip p e d
N o v . 10 1907. W e n ow h a ve a n u m b e r o f orders fo r e q u ip m e n ts , an d the
o u t lo o k Is th a t s ev era l h u n d red vessels w ill be e q u ip p e d b y us d u rin g the
c o m in g y e a r . T h e ch a n ce s fo r a large foreign business are g o o d .
If we
ca n h a ve the c o -o p e r a tio n o f o u r s to c k h o ld e r s, an d If w e be n o t h am pered
b y a n y cau se In the b u ild in g o f necessary im p ro v e m e n ts , there Is h ard ly a n y
q u e s tio n b u t that the earn in gs d u rin g 1008 w ill lie su fficie n t to Justify the
d ir e cto r s In d ecla rin g a d iv id e n d . W e are b u ild in g sta tion s an d m a k in g
Im p ro v e m e n ts o n ly at such p o in ts as w e be lie v e w ill bring results.
General Manager S. S. Bogart, under date of Jan. 8 1908,
says in substance:
_
T h e c o m p a n y w as fo rm e d fo r the p u rp ose o f u n ify in g w ireless Interests
a n d o u t o f the v a riou s syste m s to m a k e up o n e v a st system o f sim p lified
d e v ic e s . T h e c o m p a n y Is w o rk in g to w a rd the ach ie v e m e n t o f that p u rp o se
T o - d a y w e h a ve w h a t w e be lie v e t o be a new s y s te m , free fro m In frin ge
m e n t , an d It has been p r o d u c tiv e o f g reatly Increased Interest in o u r
m e th o d s .
B A L A N C E S H E E T OF N O V . 30 1 9 0 7 .
Assets—
$
I Liabilities—
«
G o o d -w ill & p a te n t r ig h t s .
5 0 0 ,0 0 0 1Capital s to c k ($ 1 0 ,0 0 0 ,0 0 0
T ie a s u r y s t k .,p r e f. & c o m . 6 ,6 5 9 ,1 1 0 '
* *
- ’
7 “" Pry1-&particl'p’g
)2 0 ,0 0 0 ,000
S to c k & b o n d s o f oth e r
2 ,5 3 4
B ills p a y a b l e .............. ................
w ireless c o m p a n ie s 1 2 ,459,263
Accounts p a y a b le.............
114,929
W o r k s In Jersey C it y ...........
23,405
S ta tio n , b o a t an d a e r o
gram e q u ip m e n t_______
229,988
4,085
Furniture and fixtures___
C a sh , a cco u n ts r e c e iv a b le .
241 ,612
Total ...................................20,117,463
— V . 85, p. 1400.
T o t a l ..................... . 2 .
C u y a h o g a T e l e p h o n e C o m p a n y , C l e v e l a n d , O h io .
(Report for Fiscal Year ending Dec. 31 1907.)
The report, issued some time ago, shows:
EARNINGS, E XPEN SES A N D CHARGES.
1907.
1906.
$
$
Deductions—
665,912
618,453 Interest and exch’ge.
48,362 Electric building___
60.250
55,036
46,612 Interest on bonds__
388
2,730 Leased lines and con
tracts ....................
Gross earnings____ 781,586
716,157 Heservcs.............
Expenses—
Div. onpf. stk.(6%)
Operating ..................
92,723
92,776 Dlv. on com. stk.(3%)
Maintenance ............ 143,609
135,598
General..... .......... ......
77,003
74,309
36,272
Taxes ......... - .............
33,661
Earnings—Telephone rentals___
Building rentals____
Tolls............................
Miscellaneous............
1907.
$
19,309
30,260
135,000
1906.
$
19,819
28,642
135,000
1,425
21 464
80,222
45.000
1,417
20,000
81,104
45,000
346,913
339,038
T o ta l...................... 338,680
330,982
434,673
377,119
46,137
05,993
GENERAL BALAN CE SHEET DEC. 31.
1907.
1906.
1906.
1907.
Assets—
$
$
Liabilities—
$
$
Property and plant. .6,071,054 5,994,637 Common stock.......... 1 ,500,000 1.500.000
Treasury stock, pref.
62,650
63,900 Pref. stock, 6 % ____ l ,500,000 1,500,4)00
Treasury bonds____ 500,000
233,000 Mortgage bonds____ 3 ,200,000 2.933.000
Material and supplies
52,004
68,1 12 Current liabilities... 376,458 391.199
Current assets______
79,998
84,022 Deferred liabilities..
18,361
14,825
Deferred assets_____
3,210
2,931 Reserve accounts___
36,969
32,533
Prof. & loss, surplus 145,099
67,073
Expenses * taxes.
Net earnings..............
Total assets............6,768,916 6,446,602
— V. 86. P. 549.
U n ite d
S ta te s
Total liabilities...0,768,916 6,446,602
T e le p h o n e
C om pany,
O h io .
(Report for Year ending Dec. 31 1907.)
The report, issued some time ago, compares as follows:
EARNINGS, EXP EN SE S A N D CHARGES.
1907.
1906.
1907.
1906.
Earnings—
$
$
$
$
Toll service..................... 558,771 514,986 Net earnings.....................250,878 242,638
Line rentals..................... 41.S25 38,956
Income from lnvestin’ts. 34,965 18,102
Total.............................. 600,596 553,942
Oth. co's rev. & discs...165,583 151,890
Total Income......... ..285,843 260,740
Deductions—••4
Interest on bonds........... 107,800 107.800
Gross earnings............. 435,013 402,052 Rentals— leased circuits. 4,181
7,231
Expenses—
lies'vc for bad accts.,&c. 4,896
6,311
Service expenses............. 48,856 46,971
Maintenance................... 55,944
48,570
Total................................116,877 121,342
General.............................. 52,377 49,948 Balance..............................168,966 139,398
T a x e s .......................
15,874 14,105 Dlv. on pref. stock (6% ) 51,150 27,631
Interest and exchange.. 11,084 0 .1 8 0 Dlv. on com. s tk .(2 ^ % ) 69,750 53,250
Totnl dividends............120,900
Expenses and taxes..184,135 159,414 Balance, surplus.............. 48,066
80,881
58,517
BALANCE SHEET DECEMBER 31.
1907.
1906.
1907.
1906.
$
S
Liabilities—
$
$
Property and plant. .4,840,924 4,701,726 Common stock_____3,100,000 3,100,000
Leased circuits____
34.208 Preferred stock......... 882,500
782,500
43,507
Mat’ls and supplles.
81,079 Mortgage bonds____2,590,000 2,480,000
30,000
Trcasury stk— pref.
30,000 Current liabilities... 307,219
441,955
Treasury bonds____
434,000
324,000 Accrued liabilities..
30,627
18,788
7,199
Cash ........................
16,330 Surplus....... ............... 179,369
148,493
131,571
Current assets.........
280,093
Inv’t. In oth. cos.a. 1,602,515 1,504,300
Assets—
Total assets......... -7,0S9,715 6,971,736
_______
Total liabilities..-7,089,715 6,971,736
a Includes common stock, $1,316,769; preferred stock, $214,123; bonds, $71,623.
— V. 86, p. 550.
T e x a s P a c ific L a n d T r u s t.
(Report for Fiscal Year ending Dec. 31 1907.)
During the calendar year 1907 the trustees were able to
buy 4,500 shares ($450,000 par value) of the pro
prietary certificates from the surplus funds received by the
Trust in excess of the amount necessary to pay taxes and
expenses. The said 4,500 shares were purchased in the
open market at an average price of $65 4 1 + per share and
canceled, leaving $6,206,274 outstanding on Dec. 31 1907.
Gen. Agent W . H . Abrams, Dallas, Feb. 17 1908, wrote:
It will be seen that 64,186 + acres of land were sold during the year, for
$322,120, or an average of $5 0 1 + per acre, of which 2 1 % was paid in
cash, and 79'% In notes bearing 6 % Interest, and secured by a flrst lien
retained against the properties sold. Also that 464 town lots were sold
for $23,490 , or an average of $50 6 2 + , of which 4 9 % was paid In cash and
5 1 % In Interest-bearng notes.
Average Price Received per Acre and Amount Paid in Cash.
1907. 1906. 1905. 1904. 1903. 1902. 1901. 1900. 1899.
Per a c r e _________ $5 01 $4 38 $3 50 $3 11 $2 84 $2 58 $2 50 $2 37 $2 02
C a s h _____________ 2 1 %
23% 50% 51% 47%
60% 61% 56% 37%
A t the close of the year 1907 you had some 2,160,000 acres of land
under lease. The rental collected during the year 1907 amounted to
378,613, a decrease of $7,096, as compared with amount of rentals collected
in year 1906.
Of your lands not under lease, some 400,000 acres— the great proportion
r.f same are situate in Brewster, Presidio and El Paso counties— arc gener
ally dry lands that cannot be utilized until a water supply Is had, either by
tank ponds or wells; tills Is frequently quite an expensive undertaking for
the prospective lessee, but more or less of these lands are being brought
Into use each year.
W e are endeavoring to encourage the leasing of these dry lands, even
offering to assist In developing a water supply by giving a time option to
prospectors and making the rental charges for the earlier years of the
lease low and Inviting.
The year 1907 was one of very short farm crops In Texas. The wheat
and small grain crops was practically all destroyed In the winter or early
spring by an Insect called the "green bu g,” whose ravages were worse than
In 1901, the only other year that the State has been visited by tills pest.
Rains were neither abundant nor timely and the farmers met with more or
less discouragement. The cotton crop was particularly short. The pas
turage was poor and the cattle Interests, therefore, more or less depressed.
The ellect of the money stringency, or panic, also, Is reflected In the de
creased land sales. Collections, however, on deferred payments on sales
have been quite satisfactory.
The State, particularly Its western section, received during the past year
a large Immigration of well-to-do people, and Indications arc that the Immi
gration will be large the present year.
O P E R A T IO N S A N D F I S C A L R E S U L T S .
R eceipts —
Cash beginning of year. .
Rental of grazing lands.
Sales of lands and l o t s ..
Bills receivable.......... .......
M iscellaneous....................
Receipts and Expenditures.
1907.
1906.
$37,123
$2,659
78,613
85,710
79,533
271,979
175,430
102,040
662
2,335
T o t a l ................................
E xp en d itu res —
Gen. exp. (Texas office)
Commissions ----------------Taxes -------- -------------------Miscellaneous . . . ---------Cost of prop. ctfs. of T .
P .L .T r . purch.ln ooen
market at av. of $32 40
In 1904, $51 6 5 + In
1905, 383 22 + In 1906
and $65 41 + In 1907.
Cash on h a n d ----------------
1905.
$19,394
88,199
239,252
38,723
1,433
1904.
$8,740
89,022
35,451
3 5,380
710
$371,361
$464,723
$387,001
$169,303
$12,604
1 1,763
28,558
12,577
$12,743
35,787
27,658
18,499
$12,038
19,576
27,311
15,509
$11,976
5,778
24,939
9,991
294,363
11,496
332,913
37,123
309,906
2,659
97,225
19,394
$464,723
$387,001
T o t a l ........................... ..
$371,361
$169,303
Assets ami Liabilities Dec. 31 1907.
1. A ssets.— 2,439,099 acres of land situate In 35 counties (V . 78,
p. 2382).
Town lots In Mineral W ells, T ye, Loralne, Iatan, Big Springs,
Van Horn and Morlta.
129,760 acres of canceled sales In 15 counties (deeds In escrow)
Bills receivable (face value) taken for deferred paym ents____ $1,241,168
11,496
Cash on hand_____________ _______ _______ ____________ __________
2. Liabilities.— Proprietary certificates outstanding, Including
$168,476 held In escrow by the Farmers’ Loan & Trust Co . 6,206,274
(The $168,476 Is held in escrow to take up the remaining Eastern
Division land securities Issued by Texas & Paclilc R y. C o., viz.: Income
and land grant mortgage bonds and Interest scrip, $115,192: fractional
Income and land grant bond scrip, $4,455; Interest scrip old land grant
bonds. $490.)— V. 85, p. 219
A la s k a P a c k e r s A s s o c ia t io n , S a n F r a n c is c o .
(Report for Fiscal Year ending Dec. 31 1907.)
President Henry F . Fortmann, under date of San Fran
cisco Jan. 21 1908, said:
Pack.— The association’s pack of salmon for the season was about 3 0 %
of the entire coast pack, as follows (number of cases): Sockeye, 22,554;
Red, 762,972; King, 25,582; Coho, 28,615; Pink, 236,963; Chum, 23,349;
total, 1,100,035 cases; and salt salmon, 3,791 barrels, an Increase of 55,359
cases and 1,786 barrels over the pack of 1906.
Markets.— The salmon markets of the world have been In a most satis
factory condition, and although the cost of production of canned salmon
has materially Increased, the prices obtained during 1907 were such that
the business has earned a substantial profit.
In spite of the disturbance
In financial conditions, the prices of canned salmon have been maintained
and a good consumptive demand Is reported from all markets.
Canneries.— The following 10 canneries were operated: In Alaska—Nushagak 2, Kvlchak 1, Nnknek 2, Egegak l , Chlgnlk 1, Alltalt 1, Karluk 2,
Cook Inlet 1, Pyramid Harbor 1, Fort Wrangell 1 and Lorlng 1; total, 14.
In Puget Sound— Semlahmoo l and Point Roberts 1; total, 2.
Current repairs amounting to $64,902 have been charged to operating
cost. New Improvements to canneries have been made at a cost of $25,621.
3122,430 has been written off from cannery plants on account of deprecia
tion.
The present appraised value of plants Is $4,350,741.
Fleet.— There has been expended for repairs to the fleet and charged to
“ earnings of vessels” $90,317.
New Improvements have been added to
the fleet at cost of $14,617.
There has been written oil from fleet values
for depreciation the sum of $87,1 7 4 , leaving the present appraised value
of our fleet $1,256 ,7 5 0 . The association now owns: 9 ships, 6 barks, 1
barkentlne, 2 schooners and 57 steamers and launches.
AUG. 15 1908. J
T H E CHRONICLE
Salmon Hatcheries.— The two salmon hatcheries of the association have
continued operations.
During 1 9 0 /, from the 3 8 ,6 /1 ,2 0 0 red salmon
eggs taken In 190(5, at the Karluk Salmon hatchery, 36,343,000 fry were
lloerated and 47,808,200 red salmon eggs were taken.
From the 1 0 5 ,4 2 0 ,
000 red salmon eggs taken at the Fortmann Hatchery In 1900, 8 0 ,943,000
fry were liberated and 41,280,000 red salmon eggs were taken In 1907.
The hatchery work Is most Important for the up-keep of the salmon supply.
The Government continued operating a large hatchery on McDonald Lake.
Alaska, and Is now constructing a second hatchery at Lltnlk, Afognak Island
Physical Condition.— -The canneries, hatcheries, ship yard and fleet,
have all been kept In a high-class condition, and more than fully equipped
to meet all demands on them.
Bonds.— During 1907 $154,000 of the bonds of the association were pur
chased and canceled. The bonded debt has been reduced to $ 1,840,000.
Profits.— The flnanclal statement shows the gross profits for the year to
be $831,421.
In addition ot the amounts as shown above to have been written off from
canneries and fleet, the further sum of $12,170 has been deducted from
ship yard and office values, making the total write-off for the year $221 ,7 7 5 ,
leaving the net prollts $609,646.
R E S U L T S FO R F I S C A L Y E A R E N D I N G D EC . 31.
Canneries operated. . . . .
Cases packed------------------N et profits----------------------Deduct—
Written off--------------------Dividends paid_________
1907.
16
1,100,035
$831,421
1906.
1905.
1904.
16
10
21
1,044,676
1,139,721
1,170,474
$213,571 (loss)$1,074,402 $109,198
$221,775
_
Balance for year-----------sur .$609,646
$211,932
$345,437
a:359,655
$140,956
3:552,000
s u r.$ l,6 38d ef.$l,77 9,4 94d f.$583.758
x Paid from dividend or surplus fund.
B A L A N C E S H E E T D E C . 31.
1907.
1906.
„
1007.
1906.
Assets—
$
s
Liabilities—
$
S
,
Canneries, flsh’ g
Capital stock___5,750,800 5,750,800
sta’ns, & c-------4,350,741 4,437,297 Bonds .................. 1,840,000 1,994,000
Fleet ----------------- 1,256,750 1,377,700 Current liu le b t.. 524,747 1,270,004
In v e n to ries-------1,410,027 1,547,581 Insurance reserve
f u n d _________
232,358
9,861
L n exp . lnsur’ce.
2.835
22,792
A cc’ ts recelv’Ic. 276,873
242,546
7 3,315
3 3,135
Cash on hand___
Profit and l o s s .. 976,464 1,363,614
T o ta l__________8,347,905 9,024,665
— V . 82, p. 390.
T o ta l_________ 8,347,905 9,024,665
Pittsburgh (Pa.) Plate Glass Company.
(Report for F is c a l Y ea r ending Dec. 31 1907.)
President John Pitcairn, in the report issued early in tho
year, said:
Our earnings for 1907, while $169,371 In excess of those of the previous
year, were adversely affected by a falling off In volume of business during
the latter part of the period, and by an Increased amount of bad debts— due
to the general flnanclal disturbance. The company passed through the
crisis without any special Inconvenience. The volume of business and the
earnings for the year were, on the whole, satisfactory. Our total sales
amounted to $20,404 ,104 . All doubtful accounts and all accounts six
months past due have been charged off. Stocks ot products of our own
manufacture stand on the books at factory cost, and products purchased
stand on the books at the lowest market prices.
Our Investment In plate glass plants Is somewhat smaller than It was at
the time of the consolidation, notwithstanding the fact that our modern
type plants alone have a greater capacity than all of the original plants
and that we now have a total capacity which Is more than double the
original capacity.
W hen the times warrant the expenditure, It Is our Intentlon to modernize the remainder of our original plants.
The largest expenditure upon permanent Investment was on account of
the construction of the new plate glass plant at Crystal City, M o., upon
which satisfactory progress has been made. This plant will be the most
modern plate glass factory In existence and second only In productive caPaclty to our new Ford City plant, which Is now In full operation.
We have met with unusual success In the development of our gas proper
ties In Pennsylvania and have charged the expenditures on our new field to
Investment account, which Is fully warranted, considering the satisfactory
results. AH our other gas lines stand on the books at the value of the
salvage.
During the year we acquired the plant of the Chambers Window Glass
C o., at Mount Vernon, Ohio, and are now fitting It for the manufacture of
window glass by a mechanical blowing process.
The returns from our Belgian Investment continue to be satisfactory
and have exceeded our expectations.
,
The outlook for the glass business for this year Is not encouraging.
Unless all signs fall, there will be a falling off In the demand, and In plate
glass quite a large over-production. On the other hand, we look for an
Increase In some of our auxiliary lines, and we hope that this Increase and
the lower cost of manufacturing plate glass, resulting from the lmorovetnents we have made In our plants, will enable us to meet successfully
the new conditions.
There never has been watering or Inflation of the com pany’s assets, and,
in the opinion of the board, your properties were never In a more satisfactory
condition than now.
o p e r a t io n s a n d f is c a l r e s u l t s .
1907.
1906.
1905.
1904.
P r o fits----------------------------- $2,219,469
$2,050,099
$1,161,031
$937,693
Dlvs. on ($150,000) pre
ferred, 1 2 % ---------------$18,000
$18,000
$18,000
$18,000
D lvs. on com m on. __ (7 % ) 1 ,2 0 8 ,1 3 3 (6 % )9 1 3 .2 3 5 ( 6 % ) 7 4 0 ,5 4 8 ( 6 % ) 7 4 0 ,500
Depreciation ----------------797.071
708,222
_______
_______
B al., surplus for year.
$196,265
$410,642
$403,383
$179,103
B V L X N J E S H E S T DEC. 31.
Assets—
P r o p e r t y .................
$16,298,913 $14,809,515 $13,635 ,997 $12,530 ,860
Plate glass, A c -------------3 .003,337
3,069,433
2,787,125
2,720,137
Materials, & c., accounts 1,488,672
1,562,559
990,500
890 532
Cash, bills & accts. rcc’lc 5,447,233
5,062,886
4,3 1 3 ,4 9 7
3 ,710,817
Total ---------------------------$26,238,155 $24,504,393 $21,727,119 $10,852 ,346
Liabilities —
Stock, com m on.......... .. .$ 1 7 ,3 5 0 ,0 0 0 $16,735,300 $12,342,600 $12,342,600
Stock, preferred-----------150,000
, 150,000
150,000
150,000
Bills and accts. payable. 3,009,388
2,110,009
4,218,174
2,784,025
Insurance reserve_______
226,241
204,824
159,726
121,885
Sink, fund— Chic, bldg39,000
37,000
_______
...
.
S u r p lu s -------------------------5,463,526
5,267.260
4,856,619
4,45 3 ,2 3 6
Total ................................ $26,238,155 $24,504,393 $21,727,119 $19,852 ,346
— V . 80, p. 424.
Massachusetts Breweries Co. (Va.).
(Balance Sheet M arch 1.)
Assets—
Treasury stock.........
Heal est. A mach’ y
Cash A debts recelv.
Merchandise..............
Good-will Atrade mksl
Miscellaneous...........
1907.
1908.
1908.
1907.
Liabilities—
$
$
$
$
194,442 Capital stock........... .6.532.000 0.532.000
194,442
,470.932 3.578,279 Accounts payable. . .
58,037
61,621
840,116 Floating d e b t......... .. 500,000
889,117
500,000
353,3S9
254,738 Surplus.................... . 222,793
207,188
2,520,765 Reserves .................. . 177,421
181,244
218,767 Dividends declared . 131,186
131,054
7,613,107
— V. 83. p. 1594.
T o ta l....................
7,613,107
411
American & British Manufacturing Co.
(.Report for F is c a l Y ea r ending Dec. 3 1 1907.)
President G. W . Hoadley in the report issued some time
ago says in substance:
General Results.— The gross earnings arc $1,5 0 6 ,6 3 7 , and Include the
revenue from the manufacture of ordnance, amm unition, gun carriages,
lathes, automobile parts and gasoline motors and sundry commercial work
at Bridgeport, C onn., and steam and Diesel engines and general engine
repair work at Providence, R . I.
The expenses Include all direct and Indirect charges against manufactur
ing, maintenance and administration; also a liberal depreciation charge on
all patterns, drawings, templates, flasks and dies and a readjustment of
material and stock values by careful inventory. After deducting Interest
charges and expenses and $114,049 for additions to plant and property ac
count, other than charged to extraordinary Improvement fund, $235,558
will be carried to profit and loss.
Additions amounting to $128,275 have been charged against the extraor
dinary Improvement fund of $150,000 created Dec. 31 1906. leaving a bal
ance of $21,724 , which will be used during the new fiscal year.
In considering the decrease In operation as compared with last year, the
stockholders’ attention Is called to the fact that work at the Providence
plant has practically been disrupted during the whole of the year; first, by
cause of fire, which occurred Dec. 5 1906, and was not finally adjusted until
March 5 1907, and the tearing down and replacing of two of our large shops.
Again, the general depression all over the country during the past three
months caused us to curtail operations to a marked degree.
New Departure— Gasoline M otors.— It Is the Intention to broaden the scope
of operations as opportunity m ay offer. Thus m ay be mentioned the m anu
facture under contract of gasoline motors for both automobile and marine
uses, which m otors. It Is claimed, are of greater horse-power with lighter
weight and better construction than any similar motor on the market.
The motor boat Den, which won the world’s record for one mile, was
equipped with one of these m otors, and we look for quite a volume of busi
ness In the near future from this lield.
Change in Capitalization.— As authorized by the stockholders, the capital
stock was reduced from $2,000,000 preferred and $8,000,000 common to
$ 2 ,000,000 preferred and $2,000,000 common (see V . 85, p. 285).
The
reduction of $6,000,000 common stock was offset by a counter-charge
as follows: Patent rights and property account, $ 4 ,7 2 4 ,4 )8 ; plant N o. 1,
$550,000; plant No. 2, $550,000; llgs and tools, $77,642; machinery, $ 9 7 ,
860; total, $6,000,000. The mortgage bond Issue of $300,000 authorized
by the stockholders remains In the treasury, except $ 15,000 , which has
been used as collateral.
N ine-Hour D av.— W e were compelled to subm it, early In the year, to a
9-hour day, with 10 hours’ pay, which Increased estimate of labor costs
1 0 % . thus reducing estimate prollts on all contracts at that time on our
books.
Outlook.— At the present time, owing to general conditions of business,
our Providence plant Is, and has been, practically closed for the past 60
days, working on general repair work only, with but about 2 5 % of our
usual complement of men.
A t Bridgeport, practically all commercial work has been suspended, but
we are working at that point on Government work about 500 men.
We
are starting the new year with contracts amounting to upwards of $ 9 0 0 ,0 0 0 ,
of which over $500,000 are Government contracts.
[Fire Loss in June 1908.— The "Ir o n A ge” of June 25 1908 said: “ The
loss to the American & British Manufactuilng Co. by the fire June 13 at Its
works at Providence. R . I ., formerly the Corliss Engine W orks, was a
serious one, totaling, It Is estimated by the com pany, $200,000. The power
plant was destroyed; about 400 ft. In length of the No. 1 shop was burned
and the remainder damaged. The new shop was not se l >usly affected,
excepting the cranes, which are seriously damaged. The foundry escaped.
A bout 10 % of the machine tools In the N o. 1 shop had been moved to the
new building; the rest were ruined or badlv damaged.
It will be necessary
to rebuild a part of the burned structures Immediately, but some of the new
work will be deferred for the present.
Arrangements have been made for
buying electric power, so that work will resume again almost Immediately.
Business at the works was at a low ebb, so that loss by Inability to fill orders
Is not m aterial.” — Ed. “ Chronicle."]
I N C O M E A C C O U N T FO R Y E A R S E N D I N G D EC . 31.
1907.
1905.
1906.
Gross earnings_________________________ $1,506,637
$1,725,478
$953,777
1,133,132
E x p en ses.......... ..........................................
1,384,407
782,494
N et earn ings________________________
Int charges and N . Y . expenses____
$373,505
23,899
$341,071
29,207
$171,283
3 0 ,405
Surplus ................. ..................... .............
Improvements, & c____________________
Extraordinary Improvement fun d___
$349,606
114,049
$311,864
*$153,337
150,000
$140,878
Balance, surplus to profit and loss.
$235,557
$8,527
$140,878
♦“ Expended during year for Improvements and charged off from plant
account and patterns and drawings.”
BALAN CE SHEET DEC. 31.
190
1906.
1907.
1906.
1907.
Assets—
Liabilities—
$
$
$
$
e
Preferred stock____ 2,000,000 2,000,000
.3,500,000 4,4525.000 Common stock____ 2,000,000 8,000,000
.
11,681
Bills payable______ 556,381
336,485
i
Accounts payable. . 103,743
74,547
. 480.952 5,205,451 Extraordinary Im
341,563
21,724
provement fund.
e. 199.516
150.000
Mortgage on plant
.
5.500
No. 2......... ...........
60,000
. 300,000
60,000
* ’75*913 Bridgeport real es.
71,457
tate _ _
9,000
i. 606,494
324,705
204,006 Bonds payable____ 300,000
. 195,316
498,732
343,126 Surplus.................. .. 734,289
. 414,222
.5,785,138 11,119.764
T o ta l.................... 5,785,138 11,119,764
— V. 85. p. 470.
Ames Shovel & Tool Co.
(iGeneral Balance Sheet M arch 1.)
1908.
1907.
1908.
1907.
Assets—
$
$
Liabilities—
$
$
Heal est.A mach’ y . . 4.051.235 4,105.442 Capital stock...............5,000,000 5,000,000
Material .................... 988,345
851,752 Accounts payable___ 112,606
167,138
Cash A debts recelv. 465,667
550,838 Reserve.......................
90,574
77.529
Trust Investments-45.614
26.087 Profit and loss............. 347,681 289,452
Total ...................... 5,550,861 5,534,119
— V. 73, p. 724.
Total
.5,550,861 5,534,119
California Fruit Canners’ Association, San Francisco.
(Report for F is c a l Y ea r en d in g F eb . 29 1908.)
In the report issued some time ago, President William
Fries said in part:
The year proved to be an active one In all branches of the work, and
both In output and distribution new records have been established.
We
enjoyed a most active selling season during the summer m onths, booking
an unusually large volume of business. The financial stringency cut off
this demand In October, with the result that our carry-over, while not
large, Is In excess of what would have been on hand If normal conditions
had prevailed during the fall and winter months. The volume of our
shipments up to O ct. 1 was by far the heaviest In our history.
The North plant In this city was completed In time for the packing
season and proved an Important factor In the general result. This Invest
ment of $500,000 has proved to be a substantial one.
Besides this plant
the Fontana branch, which was destroyed In the fire of April 1906, has
been entirely re-bullt, and extensive orchard Interests have been acquired.
During the fiscal year dividends amounting to $208,195 were distributed
In monthly Installments, and after writing off the sum of $333,000 for
depreciation and adding $94,732 to surplus and contingent reserve, these
combined accounts now show a total of $1,28 0 ,7 0 1 . Since the date of
original organization dividends have been paid to stockholders amounting
In the aggregate to $1,578,815.
412
[VOL. LXXXVII.
THE CHRONICLE
B A L A N C E S H E E T F E B R U A R Y 29 190S.
1908.
1907.
1908.
1907.
Liabilities—
$
$
Assets—
$
$
Plant, shares In other
Capital stock-----------2,891,600 2,891,600
companies, & c . . . 3,174,069 2,919,204 Accts. & bills payable 832,816
653,037
Accounts receivable
Contingent reserve &
Inventory________ 1.814,755 1,790,000
depreciation fund. 524,420 504,706
16,293
21,402 Surplus------------------ 756,281
Cash .................. ........
681,263
T o ta l..................--5,005,117 4,730,606
— V. 81. D. 262.
C hesapeake
&
T o ta l...................... 5,005,117 4.730,606
D e la w a r e
Canal C o.
The eighty-ninth annual report of the President and direc
tors says:
The net earnings for the year show a substantial gain over those for the
preceding twelve months, notwithstanding the general curtailment of
transportation occasioned by ttie recent business depression.
The permanent betterments and renewals, commenced last year at the
Chesapeake City lock, have been continued along the line as far as St.l
Georges. From the Delaware City harbor 25,394 cubic yards of materia.,
have been removed during the year; 5,967 lineal feet of the canal bank
have been re-faced with sheet piling and 887 feet with stone. The Increas
ingly heavy traffic using the public roads over the canal necessitated the
strengthening of three of the bridges.
The tonnage of the canal during the year amounted to 576,416 gross tons.
R E S U L T S F O R Y E A R S E N D IN G M A Y 31.
1907-08.
1906-07.
5160,175
$142,774
296
325
2,616
482
566
511
1,999
1,602
1905-06.
$176,354
385
274
525
1,840
Total revenue_______________________
Maine, of canal and other expenses___
Interest on mortgage loan at 4 % ______
$165,652
$60,852
104,118
$145,694
$57,894
104,118
$170,383
$65,779
104,118
Balance for year ...................................
sur.$681
def.$16,318
sur.$ 9,486
B A L A N C E S H E E T M A Y 31.
1908.
1907.
1908.
1907.
Assets—
$
$
Liabilities—
$
Cost of canal............. 3,989,365 3,989,365 Capital stock and
30,386
30,386
Heal est. line of canal
scrip ------------------- 1,903,239 1. 903,239
50,487 Mortgage loan_______ 2,602,950 2, 602,950
48,397
Invest, for contln. fd.
2,769 Contingent fund_____________ 49,803
2,992
Accounts receivable .
50,486
9,468 Interest uncalled for
Cash
_____ _______
7,941
512
202
484,402 Bills payable............................... 7,00010,000
Profit and loss______ 484,423
T o ta l.......................4,563,504 4,566,877
— <J. 85, p. 341.
W . L . D o u g la s S h oe
T o ta l....................... 4,563,504 4,566.877
C o ., B r o c k t o n , M a s s .
{Statement for Year ending Dec. 31 1907.)
The company on Dec. 19 1907 mailed to its stockholders,
two weeks in advance, checks for $52,500, the semi-annual
dividend of 3 } ^ % due Jan. 1 1908 on the preferred stock
of $1,500,000. A letter accompanying the dividend checks
said:
Notwithstanding the financial panic which has spread throughout the
country, this company conducted Its business as though no panic had
been In existence. The com pany’s business for the past six months Is In
excess of the first six months of the year 1907. The company has In hand
for future delivery a larger business than It had at the corresponding period
six months ago.
B A L A N C E S H E E T J A N . 3, F I L E D I N M A S S A C H U S E T T S .
1908.
1907. '
1908.
1907.
Assets—
$
Liabilities—
$
$
$
Real estate_________ 209,990
214,620 Common stock_____ 1,000,000 1,000,000
Machinery ................ 223,791
235,415 Preferred stock_____ 1,500,000 1,500,000
93,648 Accounts payable... 744,775
Store fixtures..........89,024
713,523
Merchandise_______ 582,759
576,769
Cash & debts recelv.l,206,178 1,160,032
Good-will___________ 933,033
933.033
T o ta l____________ 3,244,775 3,213,523
Compare V. 75, p. 735, 1537.
T o ro n to
T o ta l......... ............ 3,244,775 3,213,523
E le c tr ic L ig h t C o ., L im it e d .
(Report for Fiscal Year ending Dec. 31 1907.)
President Henry M. Pellatt, on behalf of the directors,
says:
The Income for the year has been $1,039,716 and the expenses (Including
Interest on debentures) have amounted to $ 351 ,92 5, leaving a balance of
profit of $387 ,79 1, out of which have been paid four quarterly dividends
at the rate of 3 % per annum, amounting to $245,503, leaving a balance of
$142,287 to be carried forward to prollt and loss, and bringing the amount
at the credit of that account up to $160,345.
Of this amount $150,000 has
been transferred to the reserve account.
During the year a large proportion of the change has been made from
the steam plant to Niagara power machinery. As both systems have been
more or less used In operating, the percentage of expenses to gross receipts
has been somewhat larger than would otherwise have been the case, but
during the coming year an Increased revenue m ay confidently be expected,
and at less cost for operating.
The steam plant Is In good repair and will be held In reserve as an auxiliary
n case of accident at Niagara Falls or to the power transmission line.
[The pamphlet report contains also the remarks of the President at the
’ annual meeting, dealing at considerable length with the history of the
company and the proposals for municipal control. It aim embraces a list
of the stockholders.]
\R E SU LT S F O R Y E A R S E N D I N G D EC . 31.
1907.
1906.
Revenue from lighting, power, rent,
sales. & c _______ ______ ______
. . . $1,039,716
$899,578
Oper. expenses (Incl. repairs, & c .) _ .
$651,926
$562,848
Dividends____________________________ (8 % ) 245,503(7 M) 217,271
1005.
$775,949
$ 171,319
7)208,93 7
$142,287
Balance, surplus ___________________
$119,459
$95,693
BALANCE SHEET DEC. 31.
1907.
1907.
1906.
1906.
Assets—
Liabilities—
$
$
$
$
Plant (Incl .real est.) 3 ,788,870 3.241,951 Stock paid up........... 3 ,385,477 2,997,900
Incand. Light Co.
Debentures................1 ,000,000 1,000,000
plant, &c................ 989,350
989,350 Sundry accounts pay
Investment account. 228,912
10.904
able .........................
228,412
72,173
Supplies,fixtures,&c„
Bills payable.............. 139,954
125.000
In stock.................. 111,469
19,124
131,073 Amount due bank..
Accounts receivable.
92,725
75.808 Reserve account------ 650.000
5003)00
Bills receivable-------500 Profit and loss............ *10,345
18,057
Insur. In advance___
" 3,983
2,583
Cash on deposit-----42,959
455
Cash In office............
495
T o ta l.................. ...5,215,805 4,713,131
T o ta l...................... 5,215,805 4,713,131
♦After deducting $150,000 to reserve account, against $200,000 In 1906.— V . 86.
p. 425.
Assets—
Real estate............
Machinery ______
Material ..........
Cash & debts rec’le
Patent rights.........
Sundry lnvestm’ts
1907.
$
2,538,302
1,744,040
4,726,773
3,033,535
14,942
225,004
1906.
$
2,224,444
1,720.064
4,256,821
2,082,452
8,942
130,216
T o ta l................... 12,282,596 10,422,941
— V. 85, p. 341.
(.Report for Fiscal Year ending M a y 31 1908.)
Revenue from tolls____________________
Adil— Int. on deposits & telegr’h line
Lighterage and other service_______
Rents of property on line of canal- Inc. from contingent lnv. fund____
B e m is B r o s . B a g C o .
(Balance Sheet Filed in Massachusetts Jan. 16 1908.)
G a lv e s to n
(T e x .)
Liabilities—
Capital stock_____
Accounts payable.
Floating d e b t____
Surplus...................
1907.
1906.
$
$
5,000,000 5,000,000
1,802,697
831,802
2,828,667 2,562,534
2.651,232 2,028.60*1
Total ..................12,282,590 10,422,941
W h a rf C om p an y.
(Report for Fiscal Year ending Nov. 30 1907.)
President John Sealy, u n d e r r a te of Galveston,
Dec. 1 1907, says:
T ex .,
The past year has been a most successful one, and, with the exception of
the last two m onths, each month has shown an Increase In business done
over the corresponding month of any previous year.
W e have completed a great deal of new work; notably a shed on pier 38;
apron and railroad track at pier 39; and bulk-head around piers 30 and 40.
Also considerable new railroad on our property.
It has been deemed best
that we should operate our own railroad, and we begin this work on Dec 1
1907. In order to do so we have purchased 8 switching locomotives and
they are all now In service and doing excellent work. W e have purchased
block N o. 7 0 0 , located between A vcs. A and B and 40th and 41st streets,
largely for right of way for railroad tracks that must be laid to reach piers
39, 40 and 41 when constructed.
The above undertakings have necessitated the expenditure of a large
amount o f m oney, and we now owe in bills payable and accounts payable
about $ 230 ,00 0, bu t, In our Judgment, the demands of the port made all
these additions and Improvements Imperative, and the value of your prop
erty has been greatly .Increased thereby.
The physical condition of your property.is good, but repair work that
was needed had to be postponed on account of the large amount of new
work undertaken. W e do not recommend any extensive new work for the
coming year, but a great deal will have to be done on older piers and railroad
tracks. W e should also endeavor during the coming year to reduce our
bills payable.
During the past fiscal year we have paid In dividends 5 % , and provided
for your sinking fund, which Is in splendid shape.
S T A T IS T IC S .
1906-07.
1905 06.
1904-05.
72,643
Loaded cars received----------------- No.
80,497
78,092
Loaded cars delivered--------------- N o.
31,061
20,790
20,018
Elevator “ A , " grain exported.bush 6,073,037
498,521
4,786,140
A ll elevators, grain exported, .bush 13,460,122
8,517,121
21,478,124
Coal received----------------------------- tons
61,282
41,782
45,321
Merchandise, coastwise business
(Inward) h a n d led ....................... Ibs475,807,4t9
335,320,881
295,500 ,835
Receipts—
From Income a cc o u n ts.-----------------$518,044
$704,940
$609,721
do real estate sales, rents, & C ...
21,985
7,607
15,718
do bills p a y a b le -------------------------125.000
do
do
do
pur. block (700).
30,000
T o ta l---------------------------------- -- - Disbursements—
Maintenance and o p e ra tio n ............
Fixed charges— Interest and taxes.
Dividends paid-------------------------------Construction piers, wharf, r y ., &c_
Materlals purchased-----------------------Sinking fund-----------------------------------For purchase block No. 7 0 0 ________
do switch engines, part on a c c t .. .
Miscellaneous accou n ts......................
City of Galveston paym ent________
$867,547
$625,439
$196,620
164,033
(5)131,330
241,522
66,119
35.000
30.000
25.000
7,670
10.000
Total________________________ _____
$907,294
B a la n c e ------------------------ --------- _____ d ef.S39,747
$540,028
$119 ,311
$173,611
166 ,958
161,573
(5)131.330 (4 J^) 121 ,741
147,876
2 ,398
51,758
8 ,125
40,144
44 ,000
10,000
.394
,000
$716,293
def.590 854
$479,927
su r.$60 ,l01
GENERAL BAL 4 NCE SHEET NOVEM BER 30.
1907.
1906. |
1907.
1906.
Assets—
$
S
Liabilities—
S
$
Office building.........
5,000
5,000 Capital stock----------- 2,626.000 2,626,600
Creosote works-------5,000
5,-00 5% bonds, lstserles. 1.500,000 1,500,coo
5,000
Marine w ays..............
5.1, O 5% bonds, 2d series. 300 000
300.000
Elevators A and B _ . 400 000
400.000 6 % bonds.................. 500.000
500, ,00
Dredging plant.........
65.000
65.000 Bills payable........... - 125 000
...........
Material on h a n d ...
92,5)1
17,5601Bills payable—
I pur. block No. 700
30,000
______
Switch engines.........
99.960
Individuals & accts.
123
' Too |Accounts payable—
Wharf railroad and
| Balance due “
74,960
rtghtotway--------- 1.379.205 1,312,3841
switch engines..
30,000
30,000
Wharves, piers, ware
Interest accrued-----43,768
46,699
.3.009,385 2.974,619 Taxes d u e ..................
. 156,144
121,111
Cash on hand.
.
15,941
34,561
— V. 85. p. 341.
M a rcon i
.5,233.259 5,000,3681
W ir e le s s
Total...................... .5,233,259 5.000.368
T e le g r a p h
C o.
of
A m e r ic a .
(Report for Fiscal Year ending Jan. 31 1908.)
Sec, J. Bottomley in the report issued some time ago says:
The commercial work of the company again shows considerable Improve
ment, the gross receipts for messages handled during the pa,st year show
an Increase of $8,250 over those of 1906-07. Regarding the net general
results, our auditors write: “ The gross profits have Increased from $8,157
In 1906-07 to $13,822 In 1907-08, a gain of $5,6 5 5 . This, together with a
saving of $6,499 In administration and other general expenses, results In a
net improvement of $12,165 for the period under review, as compared with
the previous period.”
, ,
,
,
Additional passenger steamers and some commercial traders have been
fitted with the Marconi System.
Negotiations are now pending for the
equipment of other vessels, also a series of land stations, and the prospects
for the coming year are very hopeful.
, , ,
„
„ , „
Since Oct. 17 1907 the Canadian Co. In conjunction with the English Co.
has been communicating across the ocean without any relay whatsoever— ■
Glace B ay, N . S ., to Cllfden, Ireland, and vice versa— and to-day Is trans
mitting for the C inadlan and British public commercial and press messages,
and from and to New York and London, press dispatches.
For reasons
which It Is unnecessary to sot forth In this short notice, the system Is not
opened for the use of the general public In the United States, but It Is the
Intention of your directors to establish and equip a similar station In or near
New York as soon as certain arrangements can be accomplished. [In#
August 1908 this service had not yet been offered to the general public o
the United States.— Ed.]
B A L A N C E S H E E T J A N . 31.
1908.
1907.
1903.
1907.
Liabilities—
$
$
Assets—
$
5
Cap. stock, Iss’d .6 ,190,000 6 ,100,000
Pat. rights, good
151,200
will & contract.),491,876 5,473,304 Less treas. stock. 145,200
Cost stations and
experlm.work,
6 ,0 4 4 ,8 0 0 6,038,800
payable,
less for depr’n. 126,969
142.161 Notes
$4,800
each,
Appar. on hand .
17,709
10.853
payable Nov. 1
Unexplred Insur.
551
577
Accts, receivable
17,947
9,600
yearly ----------24,131
9,600
8,761
C a s h ____________
1,757
9,626 Accts. p a y a b le ..
5,451
Furn. & fixtures.
1,060
1,173 M. VV. Tel. C o.,
Organization ex
L td .. London,
Legal exp.acct.
16,281
pen. & def.acct 422,422
384,8011
T o ta l-------------- 6,079,445 0 ,0 5 3 ,8 5 1 1
T o ta l__________ 0,070,445 6,053,851
A
ug .
15 1908.)
At the annual m eeting
said in part:
413
T H E CHRONICLE
on April 20 1908 Mr. Bottoinley
The results for the year ending Jan. 31 1908 show considerable lm
provement.
During said period 579,322 words were transmitted from
and received at the various stations owned and controlled by this com
pany as against 185,122 words for the same period In 1906-07.
In N ov.
1907 our station at Slnsconset was totally destroyed by lire.
It was,
however, fully covered by Insurance, and within a week was again in work
ing order.
It Is now fully replaced with the latest apparatus.
Your
directors believe that the amount of § 1 26,969 shown In the balance sheet
as the cost of stations and experimental work does not exceed such
cost if the statons were to be rebuilt and equipped; It certainly does not
represent In any way the experimental work, as large amounts spent ror
this latter purpose have been written olf to general expense account.
The balance sheet shows an Increase In patent rights, good will, & c.. or
§17,2 5 1 , which Is small in comparison to the value of the patents acquired
during the past year. Our counsel say; “ In November 1902 Mr. Marconi
llled four very imnortant applications for United States patents, which
are now owned by your com pany, covering the magnetic detector, which
I believe. Is the form of receiver now universally used by your company
lor long-distance signaling and also used by the Canadian Company in
receiving trans-Atlantic messages.
These four applications cover a
radically new form of wireless telegraph receiver and of such Importance
that the D eforest Com pany— owning the Deforest and Shoemaker patents
— and the National Signaling C o., owning the Fessenden Inventions
contested the right of your company to have patents thereon.
Con
sequently, the grant of these patents was delayed, but I ana happy to
say that we succeeded In defeating both the DeForcst and the I'essennen
companies In this m atter, and the Patent Office has allowed you 69 claims
In these four applications, and the patents will Issue to your company
under date of April 14 1908.”
,
,
,
Your directors also report that the system Is constantly increasing its
borders.
During the past year 33 ships were lltted with the Marconi
system , and six additional have accepted the long-distance receiving ap
paratus by which communication Is had with these vessels all the way
across the Atlantic and down the Mediterranean. Numerous other passonger steamers trading to the Far East from England have also been htteu
and several freighters on the Atlantic have been equipped.
The English company, the Marconi Wireless Telegraph Co.,
L td ., which had then outstanding £394,190 of its £500,000
ordinary stock, and up to Sept. 30 1907 had undertaken
“ financial engagements amounting to £ 9 4 ,2 6 3 ," offered in
June last at par (£1 per share) £250,000 preference shares,
entitled to cumulative dividends of 7 % per annum with the
right to participate pari passu with the ordinary shares in
any distribution of surplus profits in excess in any year of
10 % on ordinary shares. The prospectus accompanying said
offering gave the following particulars:
The company owns over 400 patents, taken out In nearly all the Important
countries of the world.
When the company was formed In 1897, communi
cations could only be sent a distance of 10 miles, but as the result of inven
tion .and development since that date, communications m ay now be sent
2,500 miles. The recent patents are of great value. Inasmuch as they cover
for many years Important Improvements relating to new transmitters and
receivers which secure Increased speed and Improved syntonlzatlon. The
company owns a fully-equipped factory adequate to cope with the expanding
demand for Instruments and Installations. Over 300 wireless stations,
exclusive of warships, have already been equipped, and the number Is
constantly being added to. The Marconi system Is In use for naval, mili
tary or commercial purposes In Canada, Newfoundland, Gibraltar, Malta,
Italy, Russia, Belgium, Germany, France, Holland, Montenegro, Chill,
Brazil, Argentina, United States of America, Iceland, Siberia, Egypt
Eritrea, China and Siam.
This branch of the business m ay be expected
to lead to large and proiltable demands for manufactured apparatus.
Mr. G. Marconi has agreed to act as Chief Engineer for not less than three
years.— V . 85. p. 1007.
W o lv e r in e P o r t la n d C e m e n t C o ., C o ld w a t e r , M ic h .
(Report for Fiscal Year ending Feb. 29 1908.)
The report, signed by the directors March 24 1908, says in
substance:
A t the beginning of the year conditions for a record-breaking season
were most favorable. W e had booked orders for nearly 200,000 barrels.
Owing, however, to scarcity of cars, we shipped only 161,000 In the three
months ending May 31.
Had we been able to get all cars needed, we
would have shipped at least 220,000 barrels. About June 1 the price be
gan to fall and In October, when the llnancla! stringency struck the country,
slumped to §1 15, with downward tendency until It touched the dollar
mark In December. Our shipments fell to 32,000 barrels In November,
as against possibly 60,000 for the corresponding month of 1906.
Owing to the large business we were able to do before O ct. 1, and the
satisfactory prices which we obtained prior to that date, we are able to
show a satisfactory average price for our entire year’s business, §1.2 4 4 3 .
During the year we burned 549,000 barrels, ground 577,000 barrels and
shipped 574,000 barrels. The best m onthly records are: M ay— Burned.
97,700 barrels; May ground, 9 4,700 barrels; August— shipped, 100,048
barrels.
The present outlook for business Is fair, but at a very low price, and
dividends will not reach the mark of the last two years.
During the six
years of our organization we have paid § 6 9 5 ,0 0 0 In dividends, or 69
on
our capital stock— an average of 1 1 .3 5 % per annum.
W e hope that we
will be able this year to at least maintain the average.
IN C O M E A C C O U N T .
Sales for the year, barrels...................... ........... —
G 'oss earnings____ ______ ___________________ _____
Operating expenses, repairs, taxes, Insurance,
administration, marketing, & c ........................-
1907-08.
574,000
§705,293
1906-07.
652,926
§887,014
496,729
555,567
The success achieved by the Marconi system In establishing wireless tele
graphic communication between the United Kingdom and Canada has
§208,563
§331,447
made It desirable to Increase the capital. The money to be raised by
957
1,421
tills Issue Is required for the further development of the Marconi system,
Add other Incomefor working capital, and In particular to meet the expenditure and engage
§532,404
ments that have been necessary and which have still to be Incurred for the
§209,984
llual completion of the trans-Atlantic stations at Clifden (County Oalway)
Charges against surplus—
anil Cape Breton (Canada), by means of which wireless telegraph communl13195,000 (26% ,) §260,000
Dividends p a i d ____________________________(10 >4
630
cition Is now carried on between the United Kingdom and Vmerici.
With
1,028
Doubtful accounts and notes charged off_______
the duplication and enlargement of the power plant, and the establishment
Charged off for depreciation on real estate,
of land-line connections similar to those enjoyed by the cable companies,
36,774
13,956
buildings, machinery, boats, tools, & c______
the directors are confident that they will be able to provide for the public
a speedy and thoroughly efficient direct wireless service with America.
§297,404
§209,981
T otal___________
It Is Intended at once to bring up to the same evel of efficiency as the
§35,000
Balance, surplus.
Irlsh-Canadlan stations mentioned, the two long-distance stations at Poldhu
B A L A N C E S H E E T F E B . 28.
In England and Cape Cod in the United States of America.
When this
has been accomplished, there will be two pairs of Marconi hlgh-power
1907.
1908.
1908.
1907.
stations engaged In the trans-Atlantic S3; vice, and the company will then
Liabilities—
§
§
$
Assets—
§
be In a position to accept the many offers of press and other business which
977,919 Capital stock (par of
Permanent assets___ 974,711
It has received, but which It Is not at present In a position to undertake.
shares §100)_____ 1,000,000 1,000,000
101,440
Supplies, A-e.............. 102,520
The company has an agreement with the British Post-Office whereby the Cement and clinker
Surplus_____ _____ - 200,000
200,000
latter engages to grant the same facilities for the collection and delivery
2,583
on hand..................
48,545
67,957 Aects. payable, < t c 1, 097
of messages by the Marconi trans-Atlantic system as those offered to the Cash ...........................
3,963
4,458
55,134
9,119 Pay-rolls....................
cable companies.
,
.
50,607
Notes & aects. rcc’le.
24,749
Up to the present the trans-Atlantic wireless telegraph service has been
conducted at speeds varying up to 2 1 words a minute, but with a compara
T o ta l...................... 1,205.659 1.207,042
T o ta l.................... .1,205,659 1,207,042
tively Inexpensive modification of certain parts of the existing apparatus,
— V . 85, p. 1517.
an average speed of at least 30 words a minute should be attained,and,
further, it Is expected that It will be possible to send and receive slmultaneP ills b u r y -W a s h b u r n . F lo u r M ills C o ., L t d ., L o n d o n .
ouslv at tills speed, so that 60 words per minute m ay be dealt with. On
the basis of the Improved Irish-Cunadlan service, and of the contemplated
{Report for Fiscal Year ending Aug. 31 1907.)
Engllsh-Amerlcan service, assuming the four stations are worked for onlv
12 hours a day, at an average net wireless rate o only Id. per word, and
at a speed of 20 words a minute, a net revenue (after deducting working
In connection with the appointment of receivers for the
expenses) approaching £150.000 prr annum Is capable of being earn'-L
enterprise mentioned on a following page, the following
fialf of this sum , viz.; £75.000, which would be collected directly by this
com pany, would be more than sufficient to pay 7 % on the whole of the
report presented at the annual meeting which was held in
proposed Issue of preferences tares and 10% on tit ; Issued ordinary shares.
In addition to the total earnings of the two long-distance stations at
London on Dec. 13 1907 will be of interest:
Poldhu and Ollfden, this company, as the holder of the m ajority of the
Issued shares In the American and Canadian companies, will be entitled to
As usual, the property has been kept In the highest state of efficiency a
the greater proportion of all dividends declared In respect of the estimated
the cost of revenue, and the stocks of wheat and Hour on the date of closing
£75,000 profit which would be derived from the corresponding stations at
the accounts have been valued on the usual conservative basis.
Cape Cod (United States of America) and Cape Breton (Canada).
The year was one of the most difficult ever experienced In the Northwest
deduced fac-slmlles of a page of the London “ T im es" and of a pageof
American milling Industry. Only a moderate crop of wheat was harvested
The "N e w York T im es.” showing dispatches transmitted by ‘ Marconi s In 1906, and. owing to smallness of stocks held In elevators, the price of
traus-Atlantic Wireless Telegraphy.” arc enclosed with this prospectus.
wheat for Immediate delivery was always at a premium over that of wheat
On May 11 1908 the company held shares In Its affiliated companies of a
for future delivery.
par value of £2,453,46 1, representing more than 5 0 % of the whole issued
In the early spring of this year reports of extensive damage having been
capital of these companies. Including £200,278 of the £204,056 Issued
done to the growing crops resulted In great speculation and an Important
share capital of the Marconi International M arn e Communication Co..
rise In the price of all grain. The price of wheat was forced up 30 to 4 0 % ,
L td ., cov ring the Marconi wireless exchange of messages at s ■•.
and was kept up by speculators considerably above the relative price of
The maritime service Is progressing satisfactorily, the N >- h Atla
Hour, making profitable milling Impossible for several months.
being covered by a network of wireless lnterc raimun cation, as will be seen
The present trouble In America has put a stop to speculation In food
front the enclosed map and list of ships. The number of steamers us.ug stuffs, and the price of spot wheat is In consequence now at a discount In
the Marconi International organization of ship and shore statiois Is con
stead of a premium, and so soon as the financial conditions have become
stantly Increasing. The growth of this service Is as folio.'vs:
normal, the milling Industry should be In a more satisfactory position for
Maritime Service (excluding Warships)—
1907.
1906.
1905.
making profits than It has been for several years.
Ships, number carrying Marconi equipment.
118
92
80
The new power house on Hennepin Island, to which reference was made
W ords transmitted and received ( N o .). - --1 ,8 3 4 ,5 4 0
1,361,655 657,785
last year, Is expected to be completed early In the new year. It has been
N et receipts Marconi Marine Communication
leased from the date on which we are able to supply the power on satis
C o., L td ., and Its associated companies___ £37.506
£27,859 £13,448
factory terms.
(See Minneapolis General Electric Co. In V . 86, p. 172.)
The same progressive Increase, both In ships Installed, messages transm it
Owing to the conditions of the money market In America at the present
ted and received, and In revenue, has been maintained during the current
time, and to the almost entire suspension of banking facilities, all the avail
year. The I’oldhu station has been supplying a dally press service to such
able funds of the company are at the moment required to carry on current
of the Atlantic liners as are lltted with long-distance apparatus. The re business, and In these circumstances the directors do not feel justified, In
ceipts of the Poldhu station from this source alone during the two years
the Interests of the com pany, In recommending the payment of the prefer
ending Feb. 20 1908 amounted to over £13,000. The Marconi system of ence dividend at the usual date. They therefore propose to recommend
wireless telegraphy Is In use throughout the BrltlSt navy and at British
the annual meeting to declare the dividend, postponing paym ent until.
naval stations In the United Kingdom and abroad, and the Admiralty
In the opinion o f the board, the position warrants such paym ent.
continues to utilize the com pany’s hlgh-power stations for communication
R E S U L T S F O R Y E A R E N D IN G A U G . 31 1907.
with the ships of the licet, whether In home waters, In the Atlantic, or In
the Mediterranean, within a radius of 2,000 miles.
Earnings—
The company has several Important agencies, notably lti Italv and
Profits on flour m ills, elevators and water powers owned by the
Russia
Contracts with the Russian Government of a gross value of
com pany, after deducting all working and general expenses,
£94 59!) have been executed. The Italian Government have granted
discounts and exchange at Minneapolis, and reserving for
Important privileges to Mr. Marconi and this company for 14 years, under
doubtful debts------------------------------ ------------------------------------------------------£1 2 4 ,4 2 9
an agreement dated May 19 1903.
Fifteen Government stations forshlp- Transfer fees and Interest------------ ----------- ---------------------------------------------234
to-shorc communication are worked by the Italian Govern me it for mercan
tile purposes, and a hlgh-power station Is hi course of erection at Coltano,
Total Income________________________________________________________ £1 2 4 ,6 6 3
Italy, destined for wireless telegraphic communication with Marconi long
Deductions—
distance stations In other parts of the world.
Expenditure on repairs and renewals of b ldgs., plant, m ach’y , & c .. £ 2 7 , i
This cim -ianv and Its associated companies. In which It has holdings
Fees of Minneapolis com m ittee..... ..........................- ............................ .........
1.6
am ou ntin’' In all t> over 5 0 % of the subscribed capital, have Important
Expenses In London, salaries, rents, & c----------------------------------------------3.6
agreements wlt'i the British Admiralty, the Post-Office, Board of Trade
ami Trlnltv House
Italian Government, Newfoundland Government
Net Income.......... .................................................................... ............................ £ 0 2 ,°
Canadian Government. Belgium and with L loyd’s Corpo-atlon. These
Interest on debentures for year to d a te______________________________ £ 4 9 ,9
contracts have resulted In consld-'">ble sales of apparatus, and Involve
Dividend on preference shares for twelve months to date ( 8 % ) ____
4 0 ,o
payments to the comp ” ’ <s of sums representing a fixed minimum of
£ ' ’ ' l l p.w annum. These agreements assist In promoting the comBalance, surplus
2*3
i an y’ • rervlee.
414
T H E CHRONICLE
B A L A N C E S H E E T A U G . 31 1907.
Assets—
Liabilities—
Flour mills, elevat’s,
50.000 8 % cum. pref. shares of
water powers, g’d£10 each, fully paid................
wlll, &c., as per
50.000 ordinary shares of £10
last account_____ £1,660,6S0
each, fully paid............. ..........
Net add’ns dur’g y’ r.
39,661
6 % 1st M. debentures of £100
,700,311
each .......................... .................
Horses, wagons. * c ___________
2,938 Bills payable__________________
London office fittings........... ......
386 Creditors....... ................................
Wheat, flour, barrels, <&c______ 827,767 Unclaimed lnt. and dividends..
Sundry securities & bills rec’blo
9,525 Debenture lnt. accr’d to date,
Debtors (after providing for
not due............... ........ .......... ..
doubtful debts)_____________ 213,130 Preferred dividend (8 % ) .........
Payments In advance..................
30,6 2 Gen’l res've ace’t per last acc’t.
Cash, Minneap.. London. &c_. 109,610 Profit & loss account, balance..
500.000
500.000
832.000
915,870
151,665
62
16,640
40,000
10,784
2,301
2.969,322
2,969,322
N ote.— The Minneapolis accounts are converted , as In previous years
at the exchange of $4 85 to the £ .
One or more mistakes In the copy
from which this balance sheet was compiled cause the various Items
hr\u,'n
R aaa i __ . i___ . i___ ___ . . . .
hown iinrfoT*
under ““ noepto1'
assets” tn
to ffn
o R up 565,000
less than the correct total
which Is. as shown, £2.969 ,3 2 2 .
See statement for American corporation in V . 85, p. 158.
©©MiBRAJL I N V E S T M E N T N E W S .
R A IL R O A D S , IN C LU D IN G ELECTRIC ROADS.
Bristol (Conn.) & Plainville Tramway C o.— Stock Divi' dentl.— The directors have voted to increase the outstanding
stock from $250,000 to 8375,000, the new stock to be dis
tributed as a 5 0 % stock dividend. Compare V. 87, p . 96.
Cananea Yaqui River & Pacific R R .— New Line for
Southern Pacific.— W . E . Corey, President of the United
States Steel Corporation on August 7 made the following
announcement :
The Cananea Yaqui River & Pacific R R ., which Is the Harriman Mexican
line, has placed an order for 28,000 tons of standard Bessemer rails. They
are for practically Immediate delivery, as the rails will be rolled and shipped
In August and September.
Delivery Is to be made at Guaymas. Mexico.
This lino is completed from Guaymas, Sonora, Mexico to
Culiacan, Sinaloa, 335 miles, and it is expected to inaugurate
the service on Sept. 16. There is also in operational line
from Naco, Sonora to Cananea, about 39 miles. See also
Southern Pacific report, V . 86, p. 350.
Chesapeake & Ohio R y .— Listed.— The New York Stock
Exchange has listed $4,000,000 Big Sandy Ry. first mortgage
4 % bonds, due 1944, which were assumed by the Chesapeake
& Ohio under merger with the latter. There have been
$4,771,000 of the bonds issued. Compare V. 87, p. 225.
Earnings.— For 11 months ending May 31:
11 M 6 s .
G ross.
N .t .
T ares.
O th er I n c . C h a r n e s .
Bat
•Sur
1 9 0 7 -8 -5 2 3 ,9 1 9 ,8 4 8 58,099,811 5746,480 5770,812 $5,465,211 5 2 6 4 9 9 6 1
1 9 0 6 -7 . 2 3 ,366,180 8 ,230,844
_______
_______
’ °
From the surplus ns above In 1907-08 there was deducted 51,999 l_82 fo:car trust payments and additions and betterments, leaving 5650 77_J —
V . 87, p. 225.
Chicago Consolidated Traction Co.— Payment of Interest
on Underlying Bonds.— “ Chicago Economist” of Aug. 8 said:
Judge Grosscup has ordered the August Interest paid on the underlying
bonds Instead of ordering the paving and re-laying of tracks required bv
the ordinance. The tracks are In bad condition, but no definite course has
yet been mapped out for securing the funds.— V. 87, p, 346, 165.
c
Chicago Great Western R y .— Sept. 15 Fixed as Time Limit
for Deposits of Common and Preferred Stock.— The share
holders’ protective committee, John W . Castles, Chairman
announces by advertisement on another page that Sept / 15
has been fixed as the limit of time within which the common
shares and the preferred shares A and B may be deposited
with the Guaranty Trust Co. of New York, as depositary,
under the agreement of March 17 1908. (Compare V Sfi'
p. 720).— V. 87, p. 96.
Chicago & Northwestern R y .— Payment of Bonds.__ The
$200,000 Rochester & Northern Minnesota and $100,000
Plainview RIt. 7 % bonds will be paid off at maturity on
Sept. 1 at the office of the Treasurer, 111 Broadway —■
V. 86, p. 338.
Chicago & Western Indiana R R .— Called Bonds.— Eightythree ($83,000) general mortgage bonds of 1882, drawn for
redemption, are payable on Sept. 1 at 105 and interest at
office of J. P. Morgan & Co.— V . 87, p. 36.
Connecticut River R R .— Sale of Stock.— The sale of the
block of about $100,000 stock to Estabrook & Co. reported
this week took place, we learn, some time ago. The amount
of stock now outstanding is $3 ,226 ,10 0.— V. 83, p. 625.
Colorado & Southern R y .— Listed.— The New York Stock
Exchange has listed $300,000 additional first mortgage 4 %
bonds, making the total amount listed to date $19,402,000.
The bonds Just listed were Issued In Feb. 1905 In reimbursement for
amounts expended by the Railway Co. prior to Jan. 1 1J05, for purposes
authorized by section (c) of toe mortgage, and have been held In the
treasury of the company.
Of the 320,000 ,000 authorized Issue. 5148.009
have been retired and canceled. The 5450,000 bonds still unissued must,
under the provisions of the refunding and extension mortgage, If Issued, be
forthwith elellveretl to and pledged with the trustee of the latterthe bonds listed being, therefore, ali that will be held by the public.—-V . 87.’
p. 341.
Cuba Eastern R R .— Receivership.— Vice-Chancellor Walker
at Trenton on Aug. 11 appointed W . Harris Roome of New
York receiver of the road, on application of Henry King
Sturdec of Saugerties, N . Y ., and William B. Hatch of
Arrochar, N . Y ., on the ground of insolvency. Interest
on the $1,000,000 bonds is in default. Compare V . 86,
p. 420, 1409.
Cuba R R .— Report.— For the year ending June 30:
Year—
Gross.
Oper.E.tp.&Tax. Net.
1 9 0 7 -0 8 ......................52,039,468
$1,318,181 5721,287
1 9 0 6 -0 7 ----------------- 1,953,309
1,294,955
658,354
1 9 0 5 -0 6 ----------------- 1,619,082
1,056,556
562,526
— V . 86, p. 917, 924.
Bond lnt. B a l., Sur.
$365,863 $355,424
325,930
332.424
274,665
287, s01
[VOL. LXXXV1I.
Dallas & New Mexico R y .— Receivership— S a le— John P.
Gillespie, who was appointed receiver of the company on
July 30 1908 by the 44th Judicial District Court of Dallas
County, Texas, on application of R. C. Mcgargel, announces
by advertisement that he will offer the property for sale at
auction at the Court House of Dallas County, Texas, on
Sept. 10, the upset price being $25,000.
V
r1^
lauiuac cnc riznt or way
and grade formerly owned by said Dallas Pacific & Southeastern R y . Co.
ftom the city of Dallas to a point about 70 miles northwest thereof through
the counties of Dallas, Tarrant, Denton, Wise and Jack .”
Erie R R . -Purchase of September Coupons.—-The company,
referring to its letter of June 11 1908 (V . 86, p. 1466) to the
holders of the first consolidated mortgage bonds gives notice
that in continuation of the plan therein announced, the
coupons falling due Sept. 1 1908 on the following bonds
will be purchased at par for cash by J. P. Morgan & Co.
upon presentation on or before Aug. 31 1908.
New
New
Erie
New
New
York & Eric R R . Co. second mortgage 5 % bonds
«■•> i in nmi
York & Erie R R . Co. third mortgage 4 'A % bonds
a A iv ’non
Railway Co. first consolidated mortgage 7 % bon ds' ........' l o ’s u i ’nnn
York Lake Erie & Western R R . Co. 1st consol. M. 7% 'b oiid s 3 69 9 ’500
York Pennsylvania & Ohio R R . Co. prior lien 4 A % bon ds. 1 8 [ o o o lo o o
The amount of the coupons which matured July 1, Aug. 1
and Sept. 1 and those due Jan. 1 next, which J. P .’ Morgan
& Co. have arranged to purchase, aggregate $4,898,755
Compare V. 86, p. 1466; V. 87, p. 28 5.— V. 87, p. 226, 285.
Gainesville Whitesboro & Sherman (Electric) R y .— Bond
Issue.— This company, incorporated in Texas in 1906 to build
an electric road from Gainesville to Sherman, Tex., 39 miles
has filed a first mortgage to the American Trust & Savings
Bank of Chicago, trustee, securing an issue of $1,000,000
6 % gold bonds dated June 20 1908 and due June 20 1928.
Denomination $500 and $1,000. Interest July and January
at office of trustee.
As yet no part oi the road Is In operation, but a portion Is under con
struction, to be completed by next March. Twelve miles had been graded
to July 2 0 . Officers: President, John King, Gainesville, Texas; J. AI.
Downard, Treasurer, and Thos. M. Bosson. Secretary.— -V. 83, p. 492.
Grand Trunk R y .— No Dividends on Preferred.— Too
late for confirmation, as we are about to go to press, wo
notice a Montreal press despatch saying that at a meeting
in London to-day the directors yesterday decided not to
pay the usual semi-annual dividends on the preferred stocks,
which would be paid, if declared, in October. The divi
dends on the first and second preferred stocks are paid
semi-annually, but on the third preferred stock it is the
policy of the company to make yearly distributions after
the close of the calendar year, payable in April (compare
V . 85, p. 405).
*
v
1
yearly for the last nine years, on the second preferred for a period of
Six years and lesser amounts In earlier years, while on the third preferred
stock distributions were made as follows:
In (Apr.) 1902 t % - U)o:j flnd
1905, 2*r, each: 1906 and 1907, 3 % .
On the first and second preferred
stocks the payments during preceding years have frequently been unlike
1. e., payments In one-half being smaller than In the other half of the yea r’
or the entire payment on the stock for the year being made In the latter
half.— V . 87, p. 97.
Kansas City Fort Scott & Memphis R y .— Listed.— The
New York Stock Exchange has listed $397,000 additional
guaranteed 4 % refunding bonds, making the total amount
listed $19,540,000, and has authorized $1,875,000 addi
tional to be added from time to time, but prior to Jan. 1
1909, on notice that they have been sold, making the total
amount authorized to be listed $21,415,000.
Of the additional bonds there were Issued: For retirement of a like
amount of underlying bonds, $268,000; for refunding purposes, In adjust
ment of refunding operations to date, Including above. 5171,500;
for
additions, Improvements, betterments and equipment, 5 1 ,832,500.
Purposes of Issuance of Said 521,115 ,000 Refunding Bonds.
For acquisition of securities of subsidiary companies-------- ----------$11,6 5 0 ,0 0 0
For the retirement of an equal amount of underlying bonds____
3 ,2 3 5 ,7 0 0
For refunding purposes---------------- --------------------- -----------------------------852,800
For Improvements, betterments, new equipment, & c---------------4,8 0 0 ,0 0 0
1-or additional lines, extensions, f e e . , at actual cost.......... ..............
876 500
— V. 86. p. 1529.
’
Lexington (K y .) & Interurban Railways.— Bonds of
Sub-Companies.— In response to our inquiry Chandler
Brothers & Co., Philadelphia, write:
Referring to the second mortgage of the Blue Grass Traction Co. for
$200,900 and the second mortgage of the Lexington R y. Co. for $600,000
we would advise that the stocks of both of these companies are owned by
the Lexington & Interurban R ys. C o., a New Jersey corporation, and the
mortgages are a formality rendered necessary to secure a Hen for advances
made by the Lexington & Interurban R ys. Co. to the sub-companies.
The bonds, as Issued, will be placed under the Hen of the Lexington &
Interurban R ys. Co. Indenture, and L. * I. bonds Issued In exchange for
them.
Up to present writing 583,000 of the Blue Grass second mortgage
bonds have been deposited In this way, and $33,000 Lexington R y. Co.
second mortgage bonds.
The Blue Grass bonds are In addition to the $500,000 Issue of 1904, of
which the company owns $86,000. Compare V . 87, p. 226.
Little Rock Railway & Electric Co.— Bonds Offered.—■
Isidore Newman & Son, New Orleans and New York, are
offering for sale $100,000 “ refunding and extension mort
gage” 6 % 30-year bonds, dated April 1 1908 and due April 1
1938, without option of prior payment. Denominations,
$500 and $ l,0 0 0 c *. Interest payable April 1 and October 1
at company’s agency in New York or at Bank of Commerce
& Trust Co., Memphis, Tenn., trustee. A circular says :
Capitalization.
Preferred stack (6 % cumulative)............................................ - ........... Common s to c k -_________ ____ ________________ __________________
"R efunding and extension mortrage bonds” au
thorized 55,000,000) present Issue - ....................
$213,000
Reserved to retire underlying b o n d s .- _________
2 , 0 to,0 0 )
Total bonds o u ts ta n d in g ..-_____ _______________
Reserved to provide for future extensions and
growth of property, but Issuable only under
carefully designed restrictions contained In the
m o rtg a g e .........................................................................
; ,787,000
$750,000
1,500,000
2,213,000
AUG. 25 1908.]
THE CHRONICLE
Comparison of Earnings.
Inc. Net after Inc. Interest — Dividends5 M os. to Gross
Balance,
M a g 31. Earns.
%
Taxes.
Paid.
Pref.
Com.
Surplus.
1908 .-.$ 2 7 0 ,6 8 6 12.2
$138,336 21.8 $43,629 $18,750 $25,000
$50,957
1907 - - - 246,574 . . .
113,574 . . .
27,891
41,033
18,750 25,000
Y ea r —
1907 .-- $ 6 4 2 ,0 1 1 19.9
$311,841 31.8 $101,367 $45,000 $60,000 $105,474
1906 - - . 535.498 7.9
236,591 10.1
97,724
45,000
60,000
33,867
1905 . . . 496,259 20.6
215,069 29.1
87,837
45.000
...
82,232
1904 . . . 413,338 . . .
166,524 . . .
79,799
45,000
41,725
3 years’ Increase. 55.3 3 yrs. Inc. 87.2
The company has paid regular dividends of 6 % upon Its preferred stock
since Issuance, and Is now paying dlvdends at the rate of 4 % per annum
upon Its common stock. From the surplus $50,957 for the live months
In 1908 deduct $4,167 for sinking fund and $15,000 as reserve for recon
struction, leaving balance $31,790.
From the surplus of $105,474 for the
year 1907 $100,000 was set aside for reconstruction reserve.
Abstract of Letter from Judge W . E . Hemingway, President, July 10 1908.
Property.— The company does the entire street railway business of
Little Rock and the entire commercial electric lighting and power business
In Little Rock and a portion of Argenta, Ark.
It owns 32 miles of track
(Including 9 miles of double track ), all of It either new or reconstructed
within the past live years, with rails of 70-lbs. per yard and over.
It also
owns a new power house and 41 open, 39 closed and 7 semi-convertible
cars. Over halt of these cars are new. The railway lines extend to Forest
Park, on which the company has a lease for 26 years, operated as a public
amusement park, also to Wonderland Park, an amusement resort, to two
city parks, and the Rase Hall Park. The lighting department has 3,246
consumers, and that branch Is rapidly growing, having Increased 2 4 .0 9 %
In the past year. The franchises of the street railway grant the exclusive
right up to Sept. 28 1951 over the most Important streets and all now
occupied.
I he franchises for electric lighting and power are unlimited
In time; the lighting business In Argenta, however, extends to only a part
of that city.
Mortgage.— 1
T he “ refunding and extension mortgage” bonds are secured
by a lien on the entire property, Including the large central power station,
and 32 miles of street railway, subject to $2,000,000 underlying bonds,
for the retirement of which $2,000,000 “ refunding and extension” bonds
are reserved with the trustee. No additional bonds of the underlying
Issue m ay be Issued. The proceeds of $213,000 constituting the present
Issue are to reimburse the company In part for the cost of additional prop
erty acquired; $287,000 additional bonds may be Issued to cover the cost
of further additional property.
Of the remaining $2,509,000 bonds, none m ay be Issued except upon
the resolution of the board of directors, and a certificate that the bonds
to be Issued are only 80';,') of the cost of Improvements made or additional
property acquired free from liens except those created by the “ underlying
and “ refunding and extension” mortgages; that the amount expended
(which must be stated) Is not Included In any previous certlllcatcs; that
the net earnings for the previous 12 months have been equal to at least
twice the total interest charges plus the annual Interest charges on bonds
to be Issued; that the expenditure for maintenance Included In operating
expenses within the previous 12 months was at least 1 0 % of the gross
earnings.
The Issue of additional bonds Is therefore so restricted that the com
pany m ay not Issue any of the $2,500,000 bonds unless It has within the
previous year earnined at least $130,000 In excess of Its Interest charge
and expended on maintenance and charged to operating expenses not less
than $04,200 (assuming the gross earnings to be not less than In 1907.)
Beginning with 1913 the company will annually pay Into a sinking fund,
In cash or bonds, an amount equal to k of 1% of all "refunding and ex
tension” bonds outstanding, Including bonds In the sinking fund. The
trustee may Invest In the com pany’s bonds by purchasing In the open
market at prices yielding not less than 4 >A % Income.
Bonds so purchased
to continue to draw Interest, which shall be reinvested.
The first m ort
gage also has a sinking fund annually from 1908 to 1918.
The proceeds of the $213,000 bonds described herein represent In part
the cost of extensions, additions and Improvements made since April 1907.
Approxim ately $1,230,000 has been expended by the company within
the past three years and, as a result, the property 1ms been greatly Im
proved and Its earning capacity largely Increased.
[Ownership and Financial Backing.— The ownership of the company Is
now vested In the American Cities Railway & Light C o., which owns
8 0 .9 % of the common and 8 0 .1 % of the pref. stock ] —V . 86, p. 918.
Live Oak Perry & Gulf R R .— See Dowling Lumber Co.
in “ Chronicle” of Aug. 1, page 288.
Los Angeles & Redondo R y .— Increase in Capital Stock.—
The company has increased its authorized issue of capital
stock from $1,000,000 ($500,000 outstanding) to $5,000,000.
— V . 81, p. 211.
Mexican Central R y . — Extension of S yn dicate .—The man
agers of the syndicate (V. 82, p. 1497) which early in 1906
underwrote $33,000,000 4-year 5% collateral trust notes and
about $6,000,000 prior lien 4)^% bonds, and which expires
by limitation on Sept. 1, have requested the members to
consent to an extension of the life of the syndicate until
Dec. 20 next. It is said, however, that while the syndi
cate as a whole would remain intact, the extension would
not apply to all details of the agreement and that the unsold
balance of the notes, amounting to about half the sum taken,
would be released on Sept. 1 and apportioned pro rata
among the syndicate members.—V. 87, p. 38.
Missouri Oklahoma & Gulf Railway.— D escriptive Report.
—;An. illustrated pamphlet, quarto size, containing a des
cription of the physical property of the company, its financial
condition, and the country traversed by its lines, has been
prepared by for W. II. Trumbull &Co. by Arthur B atty, who
is at the head of their statistical department. Copies of
the report can be obtained at the offices of the firm, 35
Congress St., Boston and 45 Wall St., New York; also from
II. W. Noble & Co., Detroit and Philadelphia, and the
Banque Franco-Americaine, Paris and New York. The
pamphlet says*
This company will own and operate a standard-gauge north-and-south
line traversing practically the entire State of Oklahoma, forming the
shortest line with Its connections from Kansas City to the Gulf of Mexico.
Its present line extends from W agoner via Muskegce and the Henryetta Coal Fields to Calvin, where It connects with the Rock Island
System, a distance of 109 miles.
The earnings during the past year
have been m ost satisfactory.
The road Is constructed upon the most
modern methods by a practical railroad man who has built thousands
of miles of railroads throughout this country, and also In foreign countries.
The southern connection at Calvin wth the Rock Island System affords
an outlet pu tlcu larly to western Oklahoma and Texas for coal, and to
Memphis and New Orleans for cotton. The earnings show a surplus over
and above fixed charges of $91,232, equivalent to over 3 % on the out
standing capital stock. This statement applies to only 109 miles now In
operation.
Upon the completion of the road to Sherman, approximately 221 miles
of main line In all, a much longer haul will be obtained and numerous
additional connections n:; do.
Allowing $9,000 per mile gross and the
earnings for the 229 miles, I n -ludlng branches, should be at least : gross
$2,061,000 and net, $718,877; deduct Interest on $6,000,000 first mortgage
•>% bonds, $300,000; balance, surplus equal to about 7 % on capital stock.
$118,877. The first mortgage bonds ($10,000,000 authorized. $3 000 000
now outstanding) arc limited to $25,000 per mile, of which $2,000
per mile for equipment. They can be certified only upon the completion
of five-mile sections. Compare V . 86. p. 1043 and map of road on page
83 of our Railway and Industrial Section” for July 1908.
415
Municipal Traction Co., Cleveland.— Cash Fares Tem
Increased.— The company on Thursday began,
pending the introduction of pay-as-you-enter cars, to charge
5 cents for each passenger who does not provide himself
with tickets, the latter being sold in amounts of not less
than 5, at 3 cents each.
porarily
Heretofore the company has charged 3-cent fares, with 1 cent additional
the transfer8 ’ thC addltIonal amount being returned on presentation of
* “S S £yicnt lssMcd, by Mayor Johnson on August 10 says: -’ It has been
apparent to us and the general public that we were losing from 10 to 2 0 %
of the fares, a loss which, amounts to from $1,000 to $1,500 a day (due.
It Is claimed, to the time consumed by the collector In making change for
3-c.ent fares— hd.) and If saved this sum would have shown a surplus
In the operation of the road.
The additional charge of two cents Is put
on to Induce passengers to provide tnemselves with tickets, but no pas
senger need pay with or without transfers, more than three cents.” Com
pare V. 87, p. 226.
New Orleans Public Belt R R .— Municipal Road Opened.—
The road, owned by the city of New Orleans, which has been
projected for some years, was formally opened on Aug. 3.
The road Is designed, In connection with the public dock system , to In
crease the Importance of the city as a port. The present road consists of
2,2 miles of main line track, switches and sidings and the equipment of
three engines. On account of the failure to file Its tariffs 30 days before
opening, as notified by the Inter-State Commerce Commission, the con
necting railroads have refused to Interchange traffic, but tills difficulty It Is
expected, will be later adjusted,and the road extended In accordance with
the requirements of commerce.
New Orleans Railway & Light Co.— Half-Yearly Report.—
The consolidated income account including leased and
controlled companies for six months ending June 30, com
pares as follows :
6 M os end. Gross
Net
Fixed
Other D iv o n P f. Balance,
June 30. Earnings.
Earnings.
Charges.
Deduc. Slk. (2 'A % ) Surplus.
1908 ...$ 3 ,0 5 4 ,5 3 5
$1,340,106 $991,521
$27,144
_______
$321,441
1907
3,066,155
____
1,488,984
972,287
___
28,275
$250,000
238,422
. F r o m the balance surplus as above, $321,441, there Is to be reserved
io n i iX*
rehabilitation of tracks and cars and their equipments, leaving
•pziJo, lUo.
President Hugh McCloskey says; "T h e Increase In operating expenses Is
mainly due to the Increase In the following: Maintenance of track and
roadway, $26,000; maintenance of cars and equipments, $59,000; wages
or conductors and motormen and other transportation employees, $30,000:
manufacture of gas (due to an Increase of 5 2,600,000 cu. f t .) , $26,000,
total, $141,000.
Decrease In operation and maintenance of power plants,
$4,000; leaving a net Increase for 6 months of $137,000.
The discount
on gas for the period above quoted was 5c. per 1,000 cu. ft. greater than for
the same period the previous year; making the price per thousand cubic
feet $1 15, against $1 20 lis t year. 7,211.912 transfers were used during
the first 6 months of this year, against 3.62 7 ,6 0 2 the same period last year,
or an Increase of 9 8 .8 % .” — V . 86 , p. 1590.
New York Central & Hudson River R R .— Listed.— The
New York Stock Exchange has listed $13,000,000 additional
4 % 30-year debentures, due 1934, recently sold, making the
total amount listed $43,000,000, and has authorized $7,000,
000 additional of said bonds to be added to the list from
time to time, but prior to Jan. 1 1909, on notice that they
have been sold and distributed, making the total amount
authorized to be listed $50,000,000.
The proceeds of this additional Issue of $20,000 ,000 of debentures Is
to provide for In part funds for terminal Improvements, additional fourtracking and general betterments on the line of the road, advances to
various leased and owned lines for development of their properties and for
other corporate purposes. Compare V . 86, p. 1467, H O i, 1043; V . 78, p.
2384, 2148.
Earnings.— For the six months ending June 30:
UMos-end.
Gross.
Net
Otlicr
Interest,
June SO. Earnings. Earnings. Income.
Taxes, &c.
$
$
$
$
1008 _ . .4 0 ,6 6 2 ,6 0 7 8,887,483 4,02 0 ,0 1 0 11.979,935
1907 ...4 6 ,9 3 0 ,8 9 6 9,530,382 4 ,911,076 11,494,091
* Dividends In 1908, 2 H % :
Dividends Balance,
on Stock.
Deiicit.
$
S
*4,4 6 5 ,8 0 0 2,638 242
*5 ,3 5 8 ,9 6 0 2 411 593
In 1907, 3 % . — V . 86, p. 1344.
New York New Haven& Hartford R R .— Status of New
York & Portchester, & c., Projects.— President Mellen, at a
hearing this week before the Public Service Commission,
stated that the purchase of the New York & Portchester
and New York Westchester & Boston projects cost his
company $11,000,000, and that it was proposed to build
the system as soon as conditions were favorable. He also
intimated that it was the wish of his company to build
and operate a rapid transit subway down the east side of
New York City if it cannot make arrangements to carry
its suburban passengers through to the lower part of the
city without change by other means.— V . 87, p. 167, 97.
New York & Portchester (Electric) R R .— See New York
New Haven & Hartford R R . above.— V . 86, p. 169.
New York Westchester & Boston (Electric) R y .— See
New York New Haven & Hartford R R . above.— V . 86,
p. 109.
Omaha Decatur & Northern R y .— Receiver for Projected
Road.— Judge T. C. Munger of the Federal Court at Omaha
on July 14 appointed L. It. Slonecker receiver for the com
pany because of an unpaid judgment for $5,000 obtained by
Clifford C. Pierce and Lester F. Wakefield of Sioux City
for services rendered.
The company was Incorporated in Nebraska In Jan. 1903 with $1,000,000
authorized capital stock to build from Omaha to Decatur, Ac.
In Jan. 1905
a contract for grading 16 miles between Tekamah and Decatur was reported
let to Pierce & Wakefield, but It does not appear that any construction was
ever done and there are said to be “ no assets.”
Judge E. M. Bartlett of
Omaha was President.
Philadelphia Baltimore & Washington R R .— Favorable
Decision.— Judge Barnard in the Supreme Court of the
District of Columbia granted a writ of mandamus directing
the District Commissioners to sign the certificate author
izing the payment by the Secretary of the Treasury of the
$1,500,000 appropriation made by Congress on account
of the improvements in connection with the Washington
Terminal company’s union station.
The amount has been carried on the balance sheet of the company to
the account of the "R ev ised line through W ashington” pending receipt
thereof from the Government. Compare annual report for 1906. V . 84
p. 993.
The Commissioners declined to sign the order to pav on the ground
that the company has not finished Its contract and stated that they would
TH E CHRONICLE
416
not Issue the certificate until the sub-station In South Washington has
been completed anti the superstructure of the N tw Jersey Avenue bridge
placed in position.— V . 86. p. 1219.
Pittsburgh Youngstown & Ashtabula R y .— New Bonds
Offered.— 'Brown Bros. & Co. and Henry & West of Phila
delphia offer to investors at 99 and interest $900,000 first
general mortgage 4 % bonds, series “ A ,” free of tax in Penn
sylvania, dated June 1 1908, due June 1 1948. Interest
payable Juno 1 and Dec. 1. Central Trust Co., New York,
trustee. Coupon bonds with privilege of registration as to
principal. The authorized issue is $15,000,000; reserved
for prior liens, $1,562,000; present issue, $2,000,000, of
which $1,500,000 were issued to retire the old Ashtabula
& Pittsburgh first 6s that matured Aug. 1 and $500,000 for
additional equipment and other corporate purposes. Bal
ance reserved for further construction and acquisitions.
A circular sa y s:
Thi s co m pa n y Is operated under an ag reement with the Pennsylv ania
C o m p a n y which gives the Pittsb urg h Y o un g -down & Ash ta b ul a R y . the
entire net earnings.
The lines which form the system constitute the Pennsylvania Company’ s
direct connection between the cities of New Castle, P a ., and Youngstown,
Ohio, In that Important manufacturing district and Ashtabula Harbor, a
large distributing point on Lake Erie. The bonds are a first mortgage on
the property of the former New Castle & Beaver Valley R R . Company
(the main line) and a consolidated lien upon the remaining lines of the
com pany. The total main track Is 139.16 miles. The total net Income
for the calendar year 1907 was 8 2 ,352,130, over 11 times the fixed charges;
the total fixed charges, Including Interest charges on this Issue, were $209,2 6 8 .— V . 87. p. 282.
Rochester, Corning-Elmira Traction C o.— Securities Sanc
tioned.— The Public Service Commission, Second District,
has issued a supplemental order permitting the company to
issue $380,000 additional capital stock, making $500,000
outstanding; also to issue $1,000,000 in bonds on account of
the construction of the road from ^Rochester to Conesus
Lake, 25 miles, estimated cost $1,350,000. It is proposed
later to build from Lakeville to Dansville an additional 25
miles, at a cost of $1,705,000. The company will purchase
electrical energy to operate the first section, but with the
construction of the section proposes to build a power plant
to furnish electricity for the entire 50 miles. A technical
periodical May 23 1908 said:
W . C. Gray, Chief Engineer, Rochester, writes that grading has been
completed from Conesus Lake to Groveland, 7 miles, on the proposed line
from Rochester to Elmira, X . Y ., 120 miles. Grading Is In progress from
Rochester to Lakeville, 27 miles. The overhead construction will be of
the catenary type, for single-phase operation. The Rochester & Southern
Construction Co. has the general contract. The road will be double-track,
laid with 70-lb. rails, and will be built according to steam railroad standards.
O tto F. Llcders is President: George A . Engert, General Manager and
Treasurer. -V . 86, p. 1226.
St. Louis & San Francisco R R .— Subsidiary Bonds Listed.
— 'See Kansas City Fort Scott & Memphis R y . above.
Earnings.— For 11 months ending May 31 1908 (including
Chicago & Eastern Illinois and auxiliary companies):
11
Gross
M os . — Earnings.
Net, after
Taxes.
Other
Income.
Interest, 3 % on Balance,
Itents, &c. 1si Pf.Stk. Surplus.
1907-8 $43,357,932 $11,733,321 $1,011,692 $12,113,718 $149,806 $481,488
1 906 -7. 45,526,032 14,716,611
-------- ....................... ...........
.............
Interest, rents, & c., as above, Include: Interest. $10,056,359; rentals and
sinking funds, .$803,721; dividends on stock trust certificates, $ 1 ,135,783;
dividends on Chicago & Eastern Illinois stock held by the public, $257 ,66 2.
— V . 87. p. 168. 98.
Southern Colorado Power & Railway, Denver.— New
Company— Proposed Bond Issue.— This company, which was
incorporated in Colorado on Jan. 2 1908 with $1,500,000 of
authorized capital stock, to supply electricity to the mines
and cities of Las Animas and Huerfano counties, Col., was
to hold a meeting of its shareholders yesterday at its office
in the Mercantile Building, Denver, to authorize the making
of a first mortgage to the St. Louis Union Trust Co., as
trustee, securing an issue of $1,500,000 20-year 5 % bonds,
dated Aug. 15 1908. This mortgage will cover all the prop
erty of the company now owned or hereafter acquired, “ said
property especially being that now owned by the Stonewall
Valley Electric R R ; Co., the Trinidad Electric R R . Co.
and the Trinidad Light & Power Co., and said property to
be all of the property of the corporation whether real, per
sonal or m ixed, and franchises (except the franchise to be a
corporation).”
In March last the capital stuck outstanding was reported as $300,000
common and S300.000 7 % preferred, par of shares 5100.
The aforesaid
companies, whose entire capital stock has been acquired, control the entire
g is. electric light and street railway business of Trinidad. C ol., and operate
an lnterurban railway connecting Trinidad with Thom uvlllc, Cokedale,
Jen-yvllle, Piedmont, Jansen, Starkvllle and Soprls, total trolley track,
all lines included, 19.3 miles. The Trinidad Electric R R ., at last accounts,
had outstanding $300,000 first mortgage 5 % gold bonds of $1,000 eacn,
dated July 1904 and 1924, Interest payable In Jan. and July at office of
St. Lo'ds Union Trust C o., trustee. The officials are; J. J. Henry, Presi
de it: K . C. Schuyler, Vice-President; and L. C. Duncan, Secretary and
Treasurer, all of Denver.
Southern
Indiana R y .— Protective
Committees.— The
company having made default in the payment of interest due
Aug. 1 1908, on its first mortgage 4 % 50-year gold bonds,
dated Feb. 1 1901, the following protective committees have
been organized and call for deposits (see advertisements on
another page):
(1) Georg,; vV. Youn<r. Chairman, and Rafael R . Guvln, New York;
Galen L. Stone, Boston: A . .Uerrltt Taylor, Philadelphia, and W . VV.
Gurley, Chicago, with Gordon D. Bruce, 5 i Cedar S t., Ne.v York, as Secre
tary, and the following institutions as depositaries; Windsor Trust Co. of
New York, and as agent.; therefor City Trust C o., Boston. Commercial
Trust Co., Philadelphia, and Chicago Savings Bank & Trust Co., Chicago.
Deposits of bonds must be made on or before Sept. 15 4908.
(2) Anton G. H o i e u p y l (C ia i r i n a n ) , J o h n F. Thomson and R i c h a r d
H. Higgins of Ne.v Yo rk ; A r th u r C. R a y m o n d of Boston; Seth M. Carter,
Lewi st on , Me., and Joh n W. Hamer. Philadelphia, with Jo h n C. VVead ick ,
Se cre tar y. 7 W il l St.
Holders of first m art cage bonds are r e q u e s t - l to
deposit their bonds under agreement dated Vug. 14 1 )08 with the de positary,
the B an ke rs ’ T r u st Co. of New Y o r k , or with one of Its agencies, the Girard
T ru st Co. of Philadelphia and the A merle in T r us t Co. of Boston. C o m
pare V. 87. p. 284
Tarrytown White Plains & Mamaroneck (Electric) R y .—
Petition to Increase Fares Denied.— The Public Service
Commission for the Second District on Monday dismissed
[VOL. LXXXVII.
the petition of Receiver Young to be permitted to charge
a 10-cent fare instead of 5 cents between White Plains and
Mamaroneck.
Justice Morschauser In the Supreme Court on July 24 granted the appllcitlo n , subject to the approval of the Public Service Commission, not
withstanding the franchise of the town of Mamaroneck, which limits the
fare to 5 cents. Chairman Stevens said the Commission preferred the
eirect of the franchise should come up In a different proceeding, suggesting
that a complaint might be entertained as t> hardship worked by the rate
of f v c fixed by the franchise.— V . 87, p. 168, 39.
Texas Southern R y . — Sold.— The road was sold at fore
closure sale on Aug. 4 to Osce Goodwin of Dallas, Tex. (repre
senting himself, J. F. Strickland of Dallas, E . Key of
Marshall, T ex ., and associates) for $225,000. Compare
V. 87, p. 168.
Toledo (O.) Railways & Light Co.— New Officers.—
Albion E . Lang of Toledo has been elected President to
succeed Henry A. Everett of Cleveland, who resigned and
Warren J. Bicknell of Cleveland has been made Chairman
Ford, Bacon & Davis of New York as experts, will examine
the property.— V. 87, p. 347.
Underground Electric Railways Co. of London, L td . — Pay
ment of Interest.— The holders of the profit-sharing secured
notes are notified that the scheme of readjustment having
become binding, the company is now prepared to pay them
the amount of the coupons due July I, representing seven
months’ interest from Dec. 1 last on the new 4 ^ % bonds
of 1933 given in exchange for the notes. Payment will
be made by the Guaranty Trust Co. to the holders of New
York deposit receipts for the notes or of undeposited notes.— ■
V. 87, p. 347, 227.
Wabash-Pittsburgh Terminal R y . — $700,000 Receivers’
Certificates Authorized.— Judge R . W . Archbald in the
United States Court at Scranton, P a., on August 7 authorized
the receivers of this company to issue first lien receivers’
certificates to the sum of $700,000, to provide for tunnel
repairs, but deferred decision on the question of making an
issue of $700,720 on the West Side Belt Line of Pittsburgh.
Compare V- 87, p. 168.— V. 87, p. 348, 286.
Wabash R R . — Listed.— The New York Stock Exchange
has listed $511,000 additional refunding and extension
50-year 4 % bonds, due 1956, making the total amount
listed $25,601,000.
'The bonds Just listed h av e been Issued under Article 2, Section 4, P a r a
graph 5, of the mortgage, to p a y for the following real estate and Im pro ve
ments on real estate covered thereby: For several parcels of land In Detroit,
Mich., containing 138 ,9 3 3 sq. ft ., $463,972; f i r Improvements on land at
O akwood, Mich., $47 ,369; total, $ 5 1 1 , 3 4 1 .
Earnings.— For 11 months ending May 31:
Gross
Me!
Other
First
Sundry .\.ihls.& Bit.
Earnings. Earnings. Income. Cnarges. Accls. Belt'mis. Let.
1 1 M os.
S
$
S
$
$
$
$
1907 -0 8.2 3,5 92 ,6 06 6 ,2 14 ,2 8 0 1 , 1 3 2 , 9 1 6 6,849,490 5 4 9 , 1 4 1 2 3 5, 28 3 28 6 , 7 1 8
1906 -07 .2 4, 938 .6 72 7 , 1 3 5 , 7 0 5 ...............
........................................
.
— V. 87, p. 280. 40.
Western Allegheny R R . — -New Stock.—-This company has
filed a certificate of increase of capital stock from $1,350,000
to $1,450 000.
. The company, which Is controlled by the Great Lakes Coal C o., cornoleted In April last an extension from Queen Junction on the Bessem :r &
Lake Erie R R ., to East New Castle, Pa., oa the B. & O ., 22 miles, giving
It a main line. Dewey to New Castle, 4 3 >3 miles. A further extension Is
projected from Dewey to Reldsburg, say 10 miles. The road was formerly
operated as the Western Allegheny Division of the Bessemer & Lake Erie
RR.
Its officers are; Emmet Queen, President; Thos. Liggett, Vice-Presi
dent; A . H . Eames, Secretary and Treasurer.
General offices. Diamond
Bank Building, Pittsburgh, Pa.— V. 80, p. 713.
Wheeling & Lake Erie R R . — $363,276 Receivers’ Cer
tificates Authorized.— Judge R . W . Taylev of the United
States Court at Cleveland on August 7 authorized the
issuing of $363,276 two-year 6 % receivers’ certificates to
provide for certain improvements, including, it is under
stood, the following, which he also authorized :
Repairing of engines and locomotives. $50,000; repairing of cars, SI 14.
090; renewal of ties, $72,230; laying of 90-lb. rails on the main line between
Bolivar and Zoar, $17,750; repairing and straightening bridges over the
B. & O. tracks, Cleveland, $ 2 0 , 000 ; scraping and painting steel bridges,
$25,000: rebuilding roundhouses at Mingo, $10,000; renewal of wooden
bridge on the Avena b n -ich . $ 1 6 , 000 : moving abutment supporting road
on Cleveland b -' ’ g:\ $ 8 ,000 ; freight s titlT l "* C h'-Tln Falls. S' .ooo.
Receiver Worthington recommends the expenditure of
$3,175,458 on these and other improvements and additions,
including $550,000 for a new passenger sattion and office
building at Cleveland.— V. 87, p. 348, 286.
IN D U ST R IA L , GAS AN D M ISCELLANEOUS.
Alliance (O.) Gas & Power Oo.— Bonds Offered. — Devitt,
Tremble & Co., Chicago, recently offered for sale $150,000
“ first and refunding” mortgage 5 % gold bonds dated June 1
1907 and due June 1 1932, but redeemable on any interest
date, after 60 days’ notice, at 107 1A and interest. Interest
payable June 1 and Dec. 1 at the Guardian Savings & Trust
Co. of Cleveland, the trustee, or in Now York, at the option
of the holder. Denomination, $500. A circular shows:
C a p it a liz a t io n .
Capital stock - ............................. .............................. .. — - — - - -------- -- -$500,000
Bonds, total authorized Issue, $500,000 Hsued or Issuable as follows:
Total present Issue.......... ............................ - ............- - - - - - - - - ........... ....... 150,000
Reserved to refund 5 % bonds, subject to call In 1909-------------- 100,000
Reserved for future extensions and Improvements at not over 75 %
of cost of sam e___________________________________________________ 250,000
Statement of Earnings for Five Years (Year ending Nov. 30.)
1902.
1903.
1904.
1905.
1906. 6 M o s /0 7
Gross earnings___139,569
$45,128
$50,585 $;>9,262
$70,859 $40,857
Net earn ings____ 13,578
17,170
21,376
25,913
33,247
18,219
•The net earntngs for the year ending N ov. 30 1906 as above were $33,247
Interest on all outstanding bonds. $12,500; surplus over Interest require
m ents, $20,747.
,
,
Sinking Fu nd.— -Beginning with 1913, a sum — either In bonds of the
company or money— sufficient In amount to retire annually 2j^ % of the
bonds outstanding.
...................... ...
,
The franchises for both gas and electric-light plants are perpetual and
without unfavorable restrictions. The company controls the entire gas
T H E CHRONICLE
A.UG. 15 1908. J
and. electric business In Alliance, Its plants being of substantial brick con
struction, centrally located.
The gas plant Is equipped for the manufacture of both coal and water
gas; dally generating capacity approximately 300,000 cubic feet. The
distributing system consists of about 1 3 .miles of mains. 1,073 meters, 031
gas stoves, 97 gas arc lam ps, &c. Gas Is sold at SI 10 per 1,000, with a
discount of 10 cents per 1,000 for prompt paym ent. Coal for gas-making
costs $2 15 at the works. Surpluscoke Is sold for 52 05 @ 1 3 50. The sales
of gas for the year ending N ov. 30 1900, were 21,000,000 cubic feet, and
the sa es for 1007 so far Indicate an output of over 24,000,000 cubic feet.
The electric plant has a present connected load of approximately 1,100
k. w ., the apparatus being of modern economical type. Another turbinedriven 500 k. w. unit will be Installed (luring the coming winter. There
are 120 commercial arc lamps and 20,215 Incandescent lamps connected
up, besides 27C h. p. of electric fans, m otors, elevators, &c. Prices o
electric current range from the m axim um of 12 'A cents per k. w . to th»
minimum of 5 cents per k. w.
Under contract with the city, which has still nine years to run, the
company furnishes all of the city light, now numbering 102 arcs, at 556
per arc per year.
American Agricultural Chemical C o.— Report.— For year
ending June 30:
Net
Fiscal Year—
Income.
15U ( - 0 8 ________ $2,782,275
1006-07 _________ 2,758,181
Other
Fixed
Income. Charges.
$155,014 $781,012
177,807 783,368
D ie. on
Balance.
Fret- ( 0 % ).
Sarpl'JS
$1,115,610 $ 1 ,0 4 1 ,2 0 /
1,095,420 1,057,201
Proposed, Issue of Convertible Bonds or Debentures.— In
the annual report to be cited another week, the company
announces its intention to submit to the stockholders “ the
question of more permanently providing for the financial
needs of the company, and to that end to present for their
consideration and action a proposal to issue long-term
debentures or bonds, convertible into 6 % cumulative pre
ferred stock of the company at par, at the option of the
purchasers. If such step shall be deemed advisable, it is
proposed to give to stockholders the prior right to apply
for and receive allotments of such debentures or bonds.”
— V . 87, p. 168.
American Glue Co., Boston.— Mew Treasurer.— President
Jesse P. Lyman has been elected also Treasurer to succeed
E . J. Stevens, who resigned.— V. 87, p. 284.
American Iron & Steel Manufacturing Co., Lebanon, P a .—
Favorable Decision in Regard to Dividend.— Judge. Audenriod
in the Common Pleas Court No. 4 , at Philadelphia.on July 27,
dismissed the bill in equity filed by J. II. and II. M. Sternbergh, Thomas Evans, II. II. Light and Edward Bailey,
holders of common stock, who asked the Court to decree
that the right of the Holders of1preferred stock to participate
in the earnings be limited to an annual return of 5 % on the
par value of their shares, and that all earnings of the com
pany in excess of the amount required to pay the 5 % divi
dends should be distributed among the holders of the com*mon stock.
It Is the present Intention to have the case laid before the Supreme Court
of Pennsylvania at the earliest possible date to get a final decision. Mean
time no action will be taken In regard to the distribution, of the portion of
the dividend In excess of 1 'A% (viz., H of 1 % ) , declared payable In April
1907, which was suspended pending the decision. Compare V . 84, p. 694.
— V . 87, p. 95.
American Piano Go.— Offering of Preferred Stock.— The
Geiger-Jones Company, Canton, Ohio, recently offered
$250,000 of the 7 % cumulative preferred stock at par to
piano dealers, in advance of sales to the general public, “ at
not less than $102 50 per share.” A circular says:
Tne co..ipa.o is .. combination, of W in. K .i.io. o
oi ....m inore, M d.;
Chlckerlng & Sons of Boston, M ass., and the Foster-Armstrong Co., of
Rochester, N . Y . — .m leaders in their particular line— the latter camp.mv
manufacturing m e Haines, Marshall and Wendell; Foster, Brewster, A rm
strong a .id ,j . B..Cook.pianos. The officers chosen arc President, Ernest
j . Knabe Jr.: Vice-Presidents, William' K n abe, Charles H . E ddy, George a .
Foster and W in . 13j Armstrong; Treasurer. George Jb. Eaton, The principal
office wlll.be In New .York City.
The Audit Company of New York has appraised these constituent com
panies as follows:
,,,
,
Quick,assets, Including.cash, bill! and accounts receivable. In
ventories and Investments, but not lucludlng patents, patterns,
good-will/ trade-narks, <kc., which have an Immense value In,
this particular, ease, silghtly over-----------------------------------------------$ 2 ,600.,000Real estate, plants, &c______________________________________________ 1,400,009
Total assets____ __________ ___________________ ______ — ................ ..$ 4 ,0 0 0 ,0 0 0
The earnings of the constituent companies for the past live years Indi
cate that the new corporation starts out with an annual net earning capacity
of at least $725 ,00 0, and It Is estimated chat the company will earn three
times Its preferred stock dividend tile first year. Alt liabilities have bet n
discharged by the respective companies and t ie new organiz ation starts
out without a dollar of Indebtedness of .any kind,
The organization has been completed oh the. following .basis:.
Total
To.Be Issued
Capital Stock., (par of shares $ 1 0 0 )—
Authorized.
at M s.T im -.
7 % cumulative preferred stock...............................$6,000,000
$4,000,009
Common stock___________________________________ 6,000,000,
4.000.009
The stockholders of the constituent companies will receive for their hold
ings the preferred and common stock of the new organization on the base;
of the audit. The approximate amount of preferred stock required for
this purpose will be $ 4,000,000, which Is all that will he used at tills time.
The pref. stock certlllcate contains (besides t.ic usual provisions as to thepayment of preferential dividends of not exceeding 7 % per annum, a i l
the prior right to payment of principal In case of liquidation) the following:
" N o dividends on the common stock shall at any time he paid, either In
ciydi,or ot.horw.lse, ICsueh payment would reduce the actual surplus ot.tae
corporation to. an amount less tlum 1 0 % of the par value or ttu; total
amount of the Issued and outstanding preferred stock, nor, whenever the
actual surp h8 of the,corporation is less t h a a ,5 0 % of the,par value of,the
Issued and outstanding preferred stock, shall any dividend on the common
stock be declared or paid unless at the time of th'e declaration thereof there
shall be added to the surplus out of net profits an amount equal to not less
than one-third of the total common stock dividend declared."
The amount of stock to be sold Is limited to 200 shares to each Individual,
so that It m ay be dltrlbuted as widely as possible among bona fide Investors,
and bo kept out of the hands of speculators.
N ot more than $500,000 of
this preferred stock will bo offered for sale.— V. 87, p. 227: V . 86, p. 1531.
American Tqlephone & Telegraph Oo.— Earnings of
“ Associated Operating Companies.” — For month of June
and first six months of 1908 and 1907
One
Month—
•
Telephone
Net
< t irr
Interest
Balance for
Revenues.
(Over Taxes.) Income*,
Charges. . Dividends.
$
$
$
$
$
1908___________ 10,012,700
2,626,400
451.800
6 4 6 ,7 0 0 ;
2,431,500
1907 _______
9 ,167,200 2,577,000
377,100 .
599,900
2,355,100
0 M o s .—
2 ,500,400
3 ,902,600 14,009,500
1908 _________5 8,827,400. 15,402.700
1907___________ 55,272,(100
14,319,600
2 ,240,100
3,42 6 .3 0 0 13,142.400
Operating expenses Include maintenance, charges, and taxes amounting
to, $3,330.o o a lily June lo o s , .ngalnat..$t;74O»j8O0 dm .Junes 1007;- a n d .*!!>,•-.
35.V.900 for the six months In 1908; against $17,323 ,800 for the same
period In 1007 — V» 87, p - 228, 287.
417
American Union Telephone Co., Harrisburg, P a .— Amal
gamation.— I t was announced on Aug. 12 that this com
pany had acquired control of the Consolidated Telephone
Companies of Pennsylvania (see V. 81, p. 214) and would
give its own securities in exchange for the securities of that
company on a basis reported in a press dispatch from Harris
burg as follows:
O-.iK-rs o. Consolidated securities will receive for each $100 at par o ’ the
capital stock of. the Consolidated Companies 2 0 % at par of the capital
stock of the American Union Company, half,In preferred and.half In com*
mon.
For bonds they are to receive in exchange at par 6 0 % of the first
mortgage bonds of the Am eiican Union Com pany, In addition to .in
In
preferred and 2 5 % In common stock. [A t last accounts the Consolidated
Telephone Cos. of Pennsylvania had outstanding $ 4,000:000 capital stock
and about $ 3,175,000 of an Issue of $6,009,000 llrst 5s, due Oct. 1 1 131.
About $1,000,000 first 5s were reserved to retire divisional bonds.— Ed.
"C h ron icle."]
The following officers and directors have been elected for
the Consolidated Telephone Companies of Pennsylvania,
all except Directors Houck and W est holding the same posi
tions with the American Union Telephone Co.:
Officers: President, Ellis L . Orv.s. BeUefoute; V.ce-Pr. ‘Orient. F. I).
H ouck, Harrisburg, and Secretary and Treasurer, S. Rowland Caldwell,
Harrisourg.
Directors: President Orvls. Vice-President Houck and S. P. Light,
Lebanon; Lyman D . Gilbert, Harrisburg: B. F . Mevers, Harrisburg: James
B. Krouse, Williamsport: James Kerr, Clearfield: J. L. Snangl/r, Beilefontc; Charles W est, Allentown: Tim othy S. Clark, William sport; Asbury
W . Lee, Clearfield; and William Jennings. Harrisburg.
Including the 47 exchanges of the Consolidated, the
American Union, it is asserted, has 234 exchanges and 65,000
subscribers located in Pennsylvania and adjacent territory
in neighboring States. The press report says:
W here tile aggregated gross-revenue of bot.i companies In 1907 was
$ 1 ,3 7 8 ,4 6 0 , wlth net earnings of S 660.017, the current year is expected to
produce considerably over $1,500.000. of gross income, while the decreased
expenses should bring the net to more than 5 0 % of that am ount. Th e
Am erican. Union is capitalized, at $25,000 ,090 stock and $ 2 5 ,000 ,000 o f
bonds.
Of the stock, $10;OOQ.OOO i s . 6% . preferred and $ 1 5 ,0 9 0 ,0 JO, Is
com m on. Of this there was outstanding before the present consolidation
$2,000,000 of preferred and a like amount of eo.nm >n.
Among the dl • e tors of the American. Unlon not mentioned above are John W . Garland of
Pittsburgh, W . B. Trask of Erie, W illiam Kaul of St. M ary's, B. Dawson
Coleman of Lebanon and.R em brandt Peale of New York C ity. Compare
V . 84, p. 101, 750, 1054; V . 85, p. 286, 1520.
American Water Works & Guarantee Co., Pittsburgh.—
Bonds of Controlled Companies.— See Portsmouth Berkley &
Suffolk Water Co. and St. Clair Water Co. below.— V. 85,
p. 602.
(B. T.) Babbitt Soap Co.— Bond Issue.— This company,
incorporated in New Jersey Jan. 19 1903 with $3,000,000
capital stock in shares of $100 each, filed in Jersey City on
Nov. 21 1907 a first mort. to the Central Trust Co. of New
York, as trustee, covering 87 acres of land, soap factory,
&c,., in North Bergen, to secure an issue of $750,000 6 % gold
bonds dated Nov. 20 1907 and d u e.N ov. 20 1927, but sub
ject to call, at any time at 105. Denomination $1,000;
Interest payable May 20 and N ov. 20.
Balance Sheet-Dated Nov.. 19 1907
Assets—
1907.
1906.
Real estate_____ $955,187
$631,119
M ach in ery.............. 211,694
241,577
Merchandise
. . . 177,369
117,403
Material & stock
In process______ 178,737
174,848
Cash&dcbts rec. 121,657
194,986
Pat.its. &good w .2 ,421,697 2,421,697
and 1906, Filed in Massachusetts.
Liabilities—
1907.
1906.
Capital stock . . $3,000,000 $3,000 ;000
A c cts.p ay.aW e-.
80,587
296,694
_______
Floating d e b t___ 327,603
Surplus.................
465,569
4 84,936
Premium reserve 192,492
_______
T o ta l-------------$4,066,251 $3,781,630 1 T o ta l_________$4,066,251 $3,781,630
President, Clarence M . H yde; Treasurer, Frederick E . H yde.
N ew -York
office, 82 W ashington St.
Bay State Gas Go,— To be Operated as a Stock Speculating
Cojnpany, its Shares to be Known as National Stock.— This
company, which recently came out of receiver’s hands,
its present authorized capital stock being.one billion dollars
(20,000,000 of $50 each),of which at last accounts $184>587,500 was outstanding, will, it is announced, devote
itself to operations in the stock market for the benefit of.
i t s , shareholders. President Thomas W . Lawson in his
advertisements has explained this week: his plan, which;
involves the sale of an indefinite number of millions of.
Bay State Cas Co. (henceforth to be called “ National Stock),
at, if; possible, gradually ascending prices and the appli
cation of the proceeds to “ aggressive operations” on the
stock markets of the leading cities of the world “ with and
against” what he calls the “ System ,” as seems best. The
company, according to its President, had $1,000,000 cash
with which to begin this business. He also proposes to es
tablish banks and trust companies.— V . 87, p. 349.
Beloit (Wis.) Water, Gas & Electric Co.— Charter, & c.—
It was announced on July 1 that the company had surren
dered its charter and would hereafter operate under the in
determinate laws of the State.
The company filed in Wisconsin in January last a charter
amendment providing that the preferred stock shall be pre
ferred as to principal in case of distribution of.the assets.
The, Beloit W ater Gas /e Electric Co. In 1906., following th j failure of
Its liscal agents, A . L. Rich' C o., passed under the control of C incinnati.
and St. Louis Interests, the following officers being elected: President and
Treasurer, C. B> Salmon, Beloit: Vice-President, E. G. Cowdery. St. Louis;
Vice-President and General Manager of the Laclede Gas Light Co.; Secrt t irv,
Chas. H . D«ppe, Cincinnati, Ohio.
In October 1906 a certificate was filed
making the preferred stock cumulative.
Authorized capital stock, com
mon, $600,000; 6 % preferred, $100. “ First and refunding 5 s " authorized.
$ 1,000,000, dated Feb. 1 1906, of which $180,000 are reserved to retire
$30,000 Beloit Gas Light & Coke Co. and $150,000 Beloit W ater W orks Co.
Compare V . 82, p. 571.
Bethlehem City Water Co., South Bethlehem, P a .— Bonds,
This company early in the year,offered for sale at par and
interest $73,000 of Its general.mortgage 6 % bonds, denomi
nation $1,000, secured by “ the property of the company,
worth, over $ i ,000,000.” "
418
TH E CHRONICLE
[VOL. LXXXVII.
Incorporated In Pennsylvania In 1903 and made a mortgage to the E . psmaller units are as high as $45 per h. p. per annum. The towns of N e w
W ilbur Trust Co. of South Bethlehem, as trustee, to secure an Issue of
bury and VVlnsboro have a population of 5,000 and 2,500 respectively, with
•3500,000 5 % gold bonds, dated Jan. 1 1904 and due Jan. 1 1934, of which
four cotton mills having an aggregate of more than 100,000 spindles.
5300,000 reserved to retire the general consol. 5s of the Bethlehem Con
solidated W ater Co. due Jan. 1 1922.
President, Murtha P. Quinn- Sec
Central Indiana Lighting Co.— M erger— Guaranteed B o n d
and Treas , H . D . Hughes. Philadelphia office, 112 North Broad St!
Issu e. — This company was incorporated under the laws of
—-V . 83, p. 1172.
Blue Creek Coal & Land Co., Scranton, P a.— M ortgage.—
This com pany, incorporated in W est Virginia in May 1903,
■its outstanding capital stock being now $5,000,000, in shares
of $100 each, has filed a first (sinking fund) mortgage to the
Scranton Trust Co. of Scranton, as trustee, to secure an
issue of $2,000,000 5 % gold bonds, dated June 1 1908. Of
this amount, $1,000,000 is to be issued at once, a majority
thereof having already been subscribed for by the stock
holders and officers of the company.
The bonds are subject to call In 1910 at 103.
Denomination 31 000
Interest payable June and December at office of trustee. The mort’g-iee
covers "a b o u t 40,000 acres of coal and lumber lands owned In fee” In the
Blue Creek region of W est Virginia.
President, Edward S. Jones- Treas
urer, Thom as E . Jones, and Victor E . W enzel, Secretary, all of Se’rantnn
P a .; General Manager, W . C. Franz, Charleston. W . V a .— V . 85, p. 2 24
V . 83, p . 1525.
’ ’
*
Brown Shoe Co., St. Louis.— New Stock.— This Missouri
^corporation on March 2 filed a certificate of issue of $500,000
additional full-paid common stock, making the outstanding
share capital $3,000,000, consisting of $1,500,000 common^
$500,000 6 % cumulative first preferred and $1,000,000
6 % cumulative second preferred; par of shares $100. ‘‘To
tal assets, $5,097,201; liabilities, $4,348,079.” — V 86 n
54; V . 78, p. 1394.
•
' P'
Carolina Power & Lighting Co., Raleigh, N . C.— Merger.
— This company has been organized under the laws of North
Carolina, with $3,750,000 of authorized capital stock in
shares of $100 each, of which $1,250,000 is preferred
($1,000,000 common and $200,000 preferred being out
standing),as a merger of the Raleigh Electric Co. of Raleigh,
N . C ., the Central Carolina Power Co., of Buckhorn Falls’
and the Consumers’ Light & Power C o., of Sanford. The
•officers are President, Col. Charles E . Johnson, RaleighVice-Presidents, David Pepper Jr., Phila., and J. E . Morti
mer, New York; Secretary and Treasurer, H . H . Dalton
New York . The Electric Bond & Share Co. of New York
City is the largest stockholder. The special correspondent
■of the “ Manufacturers’ Record” writing from Raleigh, N . C.
August 3, says :
Tue company takes over the Buckhorn Falls power plant, develonlntr
electric illy 4,000 horse-power, and which cost nearly 5700,000; the Raleigh
street railway and lighting plant, the Durham gas plant and some other
minor plants, and It has arrangements whereby 4,000 more horse-power
can be developed by water at points a few miles above Buckhorn Falls on
the Cape Fear River. This power from the latter falls Is to be brought
here at once., the distance being 28 miles, and the Raleigh factories In
cluding all the cotton mills, have contracted for a very considerable por
tion o f It.
y
Carnegie Coal Co.— Bonds Offered.—The Safe Deposit &
. Trust Co. of Pittsburgh is offering at par and interest first
mortgage 5 % sinking fund gold bonds dated June 1 1905,
•due June 1 1917, but subject to call on any interest date at
105; interest payable June and December at Guarantee Title
& Trust, trustee, Pittsburgh; issue $500,000; outstanding
$440,000. A circular says:
The Carnegie Coal Co. consists of the Carnegie, Primrose and Oakdale
mines, controlling about 1,700 acres Pgh. or river vein coal and 500 acres
surface, located on main line P. C. C. & ;S t. L . R y . near Cranegle Pa
Sinking fund 6 cts. per ton of run of mine for the purchase or redemption of
the bonds, at any Interest period, at 105 and Interest.
(The company was
Incorporated In April 1900 with 5100,000 capital stock, which In November
1906 had been Increased to 5500,000, par 3100, the President being then
R . P. B urgan.— E d .)— V . 83. p. 1172.
5
Central Carolina Power Co.— New Enterprise.— This com
pany is chartered under the general laws of South Carolina,
•confirmed by a special Act of the Legislature, Jan. 17 1906,
•conferring additional powers. It is proposed to install a
hydro-electric plant hving a total capacity of 15,000 electric
horse-power at Turkett Shoals on the Broad River, at a point
15 miles above the city of Columbia, S. C .; and to that
^end lands in fee simple, flowage rights, rights of way, &c.,
have been acquired. The bonds are now being underwritten.
A circular says:
Capitalization—
Authorized.
Common stock------------------------------------------------------------------------------------- $3,000,000
Preferred stock (to be issued If necessary at subsequent tim e)___ '. 1,000,000
First mortgage bonds (authorized)________________________________ 2,500,000
Reserved for Improvements, extensions, & c., un
der careful restrictions_____________________________
650,000
Present Issue__________________________________________ 1,850,000
The 5 1,850,000 first mortgage 5 % sinking fund gold bonds will be dated
May 1 1908 and mature May 1 1938; Interest payable May and November
at banking house of A . B. Leach & C o.. New York, or at Bank of Scotland
London, In sterling.
Denomination, 51,000 and 5500 (c*& r).
Redeemab le a t option of company on any Interest date on and after M ay 1 1913 at
105 and Interest, upon 60 days’ notice. As a sinking fund, the company
■must pay the trustee annually, beginning with 1013, an amount equal to
1% of the total bonds then outstanding.
Estimate of Earnings.
Gross Income------------------------ $300,0001 Depreciation_________________$20,000
Net Income (after taxes)
2 6 5 ,000| Interest charges........ ........... ..
92,500
S u r p l u s --------------------------------------------------------------------------------------------------------- $ 1 5 2 ,5 0 0
PtonL— Actual bids show that the plant can be constructed, Including
Interest charges during construction, for $ 1 ,5 0 0 ,0 0 0 , which amount will be
provided for by the sale of $1,850,000 In bonds, as described In syndicate
underwriting agreement. Above the proposed power site the river has a
drainage area of 4,650 square miles and a Government gauging station
shows that a minimum flow of 1,500 cubic feet per second can be depended
upon In the dryest year. The bond will be 9 ^ miles In length, with an
area of 8 7 ,0 0 0 ,0 0 0 square feet. The dam will be 30 feet high, forming
with the power house, a concrete structure 1,400 feet In length. The power!
house w II contain 6 hydro-electric units, each consisting of four 48-lnch
turbine wheels mounted on a single shaft direct connected to a 2 ,000 k. w.
generator.
Market for Power.— Although within a radius of 50 miles of the proposed
power site the textile mills alone use upwards of 45,000 h. p .. It Is expected
that the market for the entire 15,000 h. p. will be found In the city of
Columbia and the towns of Newbury and W lnsboro. Columbia has a
•population of 4 0 ,0 0 0 .
Its manufactories are diversified, and Include cotton
mills with a total annual output valued at $ 4 ,9 3 5 ,0 0 0 , having 233.500
spindles, 5,896 loom s, and giving employment to 4,400 people. An option
on a contract has been taken from the Olympia mill for 5.000 h. p. at the
rate of $20 per annum, based on 60 hours per week. Other options on
Indiana on May 8 as a subsidiary of the National Light, Heat
& Power Co. of New York (compare V . 80, p. 1238, 2402)
and took over the property or the control of a number of
Indiana public service corporations, among them, by deed,
the Columbus Street R y . & Light Co. (capital stock $100,
000), Fairmount Light & Power Co., People’s Gas, Electric &
Heating Co. of Bloomington, Ind. (capital stock $150,000;
bonds authorized, $400,000), Alexandria Light, Heat
& Power Co. of Alexandria. The underlying bonds aggre
gate $179,500, of which $143,000 are obligations of this lastnamed company
A . H . Bickmore & Co., New York, who offered a block of
the bonds of the new company (amount sold to June 30
1908 $427,000), issued a circular saying:
Organization.— This company furnishes electric light for the cities of
Bloomington, Columbus, Alexandria and Fairmont and gas and steam
heating for the city of Bloomington.
It also operates the street railway In
Columbus.
These cities are all located In the State of Indiana.
y
and* In addition $80,000 has been issued to cover’ Im p rove me n ts now under
w ay. The remaining 52,000,000 can only be Issued to 75 % of the cost of
additional properties or to 8,> % of the cost of Improvements and extensions
to present properties or other properties after acquisition. Coupons navable M ay 1 and N ov. 1 at Knickerbocker Trust Co. of New York the
' mortgage trustee.
’ l,uo
Bond and Stock Registrars.— A . II. Bickmore & C o., 30 Pine St N v
Stock (shares, $ 1 0 0 , par value).— Preferred, authorized. $ 1 o'o'o ooo'Issued, $365 ,00 0. Common, authorized, $2,000,000; Issued, $500 000
Franchises.— Alexandria expires In 1933; Bloomington expires In l ’9 3l-32Columbus, perpetual; Fairmont expires In 1917.
Estimated population
served, 4 0 ,0 0 0 . Annual meeting, third Tuesday In M ay.
Fiscal year
ends March 31.
Earnings.— The Central Indiana Lighting Co. began operation July 1
1907 and therefore a statement under the m anagement of the National
Light, Heat & Power Co. Is not yet available. 'The earnings of the con
stituent companies for the last year prior to acquisition were as follows:
Gross, $97,405; operating expenses, $63,405; net earnings, $34,000.
The cities and towns served are substantial and several of them are grow
Ing rapidly In population and wealth.
Important Improvements are being
made and at least 50 % should be added to the gross and net earnings during
the next year.
Consolidated Telephone Companies of Pennsylvania.—
Amalgamation.— See American Union Telephone Co. above.
— V . 8 1 , p . 214.
P
County Line Water Co.—Bonds.— A mortgage was filed
in San Francisco on Dec. 28 1907 to the Central Trust Co.
of California, as trustee, to secure a $125,000 bond issue.
Equitable Illuminating Gas Light Co. of Philadelphia.—
Output.
I he statement of income from gas sales in the city
of Philadelphia during the quarter and six months ending
June 30, as filed with the city authorities, compares as follows:
Cubic feet of gas—
1908.
1907.
1906
3 m o n th s ------------------------------ 1 ,8 65,326,710
1,725,766,390
1,637,865,210
6 m o n th s ------------------------------ 4,0 0 8 ,2 2 0 ,5 1 0 3 ,8 3 2 ,6 3 0 ,2 9 0 3 .566,407 540
6 m onths’ gross revenue-------$1,008,220
$3,832,630
$3,566 407
Of which city receives-------$510,566
$383,263
$350 640
The quantities or gas paid for during the 3 and 6 months ending June 30
1908 representing gas sold prior to 1908, on which the former rate of 1 0 %
accrued to the city, were 1.151.622,870 and 61,720,630 cubic feet respec
tively. The new 15 % rate applies on 9 91,270 ,930 cubic feet sold during
the 3 months and 1,803,606,080 during the 6 months. Compare V . 8 6 .
p . 1103.
Fremont Steamship Co.— Bonds Offered.— Otis & Hough,
Cleveland, recently offered at 98 and interest the unsold
portion of a total issue of $160,000 first mortgage 5 % gold
serial bonds dated April 1 1908. Denomination $1,000 (c*).
Interest payable Dec. 1 and June 1 at the Detroit Trust Co.,
Detroit, Mich. Principal due, it is understood, $16,000
yearly on Dec. 1 1909 to 1918 inclusive, but subject to call
at any interest day on 30 days’ notice at 102 and interest.
A first mortgage on steamer B. F . Berry, length 480 f t ., depth 30 f t .,
beam_ 52 f t .,
tons. 'This boat will be managed by Capt.
Co.
Detroit and F. S. Hall of Duluth.
Great Lakes Coal Co.— See Western Allegheny R R . under
“ Railroads” above.— V . 82, p. 872.
Griffin Wheel Co .— Balance Sheet Dec. 31 1907.— As filed
in Massachusetts:
Assets ($9,160,438) —
Real estate & m achinery.$4.303,977
Cash and debts receivable. 2.035,532
Merchandise---------------------- 2,787,077
Miscellaneous Investments
33,852
liabilities ($9,160,438) —
Capital stock______________ $ 6 ,244,800
Accounts payable________ 1,553,982
Su rplus______________
500,000
Reserves .
. . ________
317,544
- V . 85. P- 407.
Pr° flt and 1053-------------------
5 4 4 lU 2
Gulf Compress Co.— Receivership.— It,should be noted
that this company, referred to last week (p. 350) was on
June 2 last placed in the hands of C. C. Hanson as receiver
by Judge McCall in the Federal Court at Memphis.
Abnormal conditions relative to the cotton crop, the recent car shortage
and excessive litigation, Including the anti-trust ouster suit In Mississippi
(V . 85, p. 724) and the Inability to eo lk e ; large amounts due, are stated
as reasons for the company’s difficulties. Judge H . O. Niles was on August
12 to hear argument on the petition of the Attorney-General of Mississippi
to Intervene in the receivership proceedings for the purpose of protecting
the Interests of the State under the Judgment of ouster. — V. 87, p. 350.
Harrison (Ohio) Electric & Water Co.— Mortgage.— This
company sometime since filed a first mortgage with the Provi
dent Savings Bank & Trust Co. of Cincinnati, as trustee,
to secure an issue of $30,000 5 % gold bonds.
Bonds dated July 26 1907, due July 1 U 2 7 , but subject to call on July 1
In 1912, 1917 and 1922 at par.
Denomination $100 and $500.
Interest
January and July at office of trustee. Company Incorporated July 26
1907. Capital stock $30,000; par. $100. Charles A . Hlnsch Is President
and Samuel Mcl-arland Secretary and Treasurer.
Houston Oil Co .— Settlement— Further Facts.— 'The terms
of the settlement with the Kirby Lumber Co. were outlined
in the “ Chronicle” of Aug. 1 (p. 290). As further eluci-
AUG. 15 1908.]
T H E CHRONICLE
dating the matter, the following excerpts from a long state
ment in the “ Houston Daily Post” of July 29 are pertinent:
Obligations, &c.. Outstanding.— The decree recites that there are now
outstanding and unpaid (1) timber certificates (compare V . 75, p. 137),
series 1 to it, Inclusive, and $55,000 out of series S, aggregating $ 4 ,715,216,
together with Interest; (2) preferred stock of the Houston Oil Co. of the
par value of $ 0 ,753,600, upon which there are accrued dividends at the rate
of 6 % per annum, due from Jan. 1 1003 (compare V . 74, p. 320); (3) debts
of the Houston OU Co. (Including $112,874 due to the Maryland Trust Co.
for compensation, expenses, attorneys’ fees, & c .), $3,500,000, Including
accrued Interest to Feb. 1 1008.
Second Timber Certificates— Preferred Stock a Third J.ien.— An Issue of
$3,500,000 of second timber certificates Is authorized for the purpose of
settling claims of creditors and It Is adjudged a second lien on the property
of the oil company. The unredeemed preferred stock of the oil company
Is adjudged a third lien on the trust estate. The second timber certificates
are to be paid after the now outstanding timber certificates are paid and
will be Issued bearing date of Feb. 1 1908 In scries of $500,000, maturing
(after the last of the first Issue has been redeemed In 1913— Ed.) as follows:
Aug. 1 1913, Feb. 1 1911, Aug. 1 1911, Feb. 1 1915, Aug. 1 1915, Feb. 1
1916, Aug. 1 1916.
In order to provide for the semi-annual Interest on the second Issue
timber certificates and also upon the claims of creditors who do not accept
certificates In payment of claims, the Kirby Lumber C o., beginning with
July 1 1908, and every six months thereafter, will make a total of eleven
payments of $105,000 each (3 % half-yearly, 6 % per annum on the $ 3 ,
5 00,000 ), and six other payments aggregating $298,000, the last payment
to be made July 1 1916.
.
It Is further set forth that the Houston Oil Co. owns 222 shares of Its
common stock, 8,234 shares of Its preferred stock and $209,126 of timber
419
Kirby Lumber Co.— •Settlement— Further Facts.— See Hous
ton Oil Co. above.— V . 87, p. 290.
Lake Superior Corporation.— New General Manager.—
W . C. Franz has been appointed General Manager of the
Lake Superior Corporation and its subsidiary companies.
Mr. Franz Is a resident of Charleston, W . V a ., and has until recently been
the General Manager of the Kanawha & W est Virginia Railway Co. and
previously of the Kanawha & Michigan, which Is a portion of the Toledo &
Ohio Central system .— V . 87, p. 290. 100.
Lane (Idaho) Lumber Co., L td .— Bonds Offered.— Pea
body, Houghteling & Co., Chicago, have recently been
placing at par and interest $125,000 first mortgage 6 % serial
gold bonds dated Aug. 1 1908, payable $12,500 semi-annually
beginning Feb. 1 1909 and ending Aug. 1 1913, redeemable
in the reverse of their numerical order on Aug. 1 1911, or on
interest dates thereafter at 102)^ and interest. Principal
and semi-annual interest payable at office of trustee, the
Northern Trust Co., Chicago. Denomination $500 c*. A
circular says:
These bonds arc Issue
o refund the com pany's Indebtedness. They are
secured by a closed first mortgage on all property now owned or hereafter
acquired, Including approximately 7,000 acres of virgin timber lands In
Shoshone and Kootenai counties, Idaho, containing 123,000,000 feet of
merchantable-tim ber, consisting for the most part of white pine, yellow
pine, fir and tamarack. Estimated valuation by experts: Land and tim
Yoakum Tramivag Deal Blocked.— The proposition pending between
B . F . Yoakum and the Kirby Lumber Co. and Its receivers, whereby Mr. ber owned In fee, $370,000; mills, railroad and equipment, 577,000; other
assets, $5,000; net working capital, $108,000; total assets, $560,000.
Sink
Yoakum was to take over the tram roads and equipments of the lumber
com pany In payment of an Indebtedness due him, and operate the same In ing fund, beginning Sept. 15 1908, $3 per 1,000 feet of timber cut during
preceding calendar month, to be applied by the trustee to paym ent of
accordance with a contract existing between him and the lumber com pany,
these bonds as they mature, any surplus for redeeming the bonds In re
Is mentioned In the decree as being denied (compare V . 79, p. 102).
C.
W . Hillard, trustee for If. F . Yoakum under the agreements existing,verse of numerical order at 102 >2 and Interest. This sinking fund should
suffice to pay ott the Issue nearly three times over. The company agrees
gets a judgment for $600,000, together with Interest from November 1903
at 6 % per annum and also $943 expenses, which Judgment Is to be paid In that It wlli maintain Its net working capital at not less than $100,000 while
any of these bonds are outstanding.
due course of time (see V . 79, p. 102).
The timber lands are tributary to the Coeur d ’Alene River and comprise
M r. Marburg’s Statement.— W . L. Marbury of Baltimore, who appeared
6,123 acres land and timber owned In fee simple and 1,004 acres timber
as counsel for the Maryland Trust C o., gave out the following statement;
o.vned In fee simple; total, 7,127 acres. The com pany’s mills, with a
" I t Is with very great satisfaction that the Maryland Trust C o., trustee
of this great estate, finds Itself able to announce the settlement of the liti c ipaclty In finished lumber of 15,000,000 feet per year, are located at Lane,
Idaho, on the O. R . & N. R R . The company has been In operation since
gation, which, for the last live years, has so greatly Impeded the operation
March 31 1904, being managed by experienced men who have a substantial
and development of the properties of the Houston Oil Co. of Texas and the
Interest In the property.
The equipment for logging Includes 4J-£ miles
Kirby Lumber Co.
,
of railroad, one 33-ton Shay locomotive, ten logging cars, &c., &c.
"T h e (Inal decree entered this morning by consent of all parties not only
These bonds are guaranteed jointly and severally by actual endorsement
settles permanently this most protracted and vexatious litigation, but pro
vides means for the financial rehabilitation of the two companies, by pro oa each bond of the following: Hon. Bernard F. O ’ Nell, President of State
Bank of Commerce, W allace, Ida.; P. H . W all, President and Active Man
viding for the Issuance to the creditors of each of the two oompanles of
ager of the Lane Lumber C o., L td .; G. Scott Anderson, mining engineer,
securities of such character as will, In the Judgment of those who have been
connected with some of the most successful Interests In the Coeur d’ Alene
the most reliable advisers of the trustee. Insure the full payment of all
region. These guarantors represent a net responsibility, outside of their
outstanding claims. [ vVe understand that the obligations of the Kirby
holdings In the Lane Lumber C o., of over three times the amount of these
Lumber Co. now aggregate only about $600,000, and that on account of
bonds.
the same It Is proposed to create a separate Issue of first lien timber certifi
cates. Compare financial statement In V . 79, p. 102, — Ed. "C h ron icle."]
Leicester Corporation.— See Leicester & Continental Mills
“ .Something 1 kc 8 5 % In amount of the creditors of the Houston Oil Co.
Co. in “ Chronicle” of Aug. 1, page 290.
of Texas have already signified their willingness to convert their claims
Into the new securities thus ottered under the decree of the Court.
Manhattan-Hudson Realty Co.— Incorporation.— This com
“ In neu of Its claim for damages against the Houston OU Co. of Texas,
the Kirby Lumber Co. has accepted the construction of the timber contract,
pany, mentioned last week, was incorporated at Albany on
which fixes and establishes the proposition that, according to the true con
March 28 1908 with $5,000,000 authorized capital stock.
struction of thccontract, It was a contract to sell to the Kirby Lumber Co.
an amount of timber not exceeding 6 ,400,000,000 feet, that being the
See V. 87, p. 350.
amount estimated by the experts to be upon the lands which actually were
Memphis (Tenn.) Warehouse Co.— Bonds.— A mortgage
acquired by the Houston Oil Co. of Texas, but that the Kirby Lumber C o.,
Instead of paying the full amount of semi-annual payments named In the was filed in January last in favor of the Central .Bank &
contract originally, when It was supposed that 8 ,000,000.000 feet would be
Trust Co. of Memphis, as trustee, to secure a n ’ issue of
acquired, should only be required to pay 61-80 of that minimum, and the
right of forfeiting the contract should not be exercised by the trustee so
$250,000 bonds.
long as 78 % % of this minimum payment was paid by the Kirby Lumber
Miller Plantation Co., Mexico.— Sale August 2 5 .— The
C o., which amounts to $1,250,000 per annum, Instead of $2,000,000, as
would have been necessary under the original figures.
In other words,
Trust Company of America, the mortgage trustee, announces
that these original figures did not express the true Intent of the parties
that, default having occurred in the payment of interest on
to the contract, In v ew of the fact that the Houston Oil Co. did not acquire
oil lands containing fully 8,000,0 0 0 ,0 0 0 feet of timber.
the $500,000 10-year 6 % bonds dated 1906, i t will, as
“ This, of course, was a concession of enormous value to the Kirby Lumber
Co.
It docs not change In any way the prices to be paid for the timber or requested by the holders of a majority of the bonds, sell in
the amount to be ultimately realized by the Houston OU Co. of Texas out
New York on Aug. 25 the property, rights and franchises
of the 6 , 4 00 , 000,000 feet, but It extended the time f ir payment and dimin
of the company, located in the district of Acayucan, State
ishes the amount of the minimum semi-annual payments to be made by
the Kirby Lumber Co. so as to enable It so much more easily to meet Its of Vera Cruz Mexico.
obligations In the future.
A t the same time the Income of the Houston
OU Co. of Texas will be sufficient to meet Its maturing obligations, Including
Mobile Electric Co.— Bond Issue.— The company, in which
the Interest on the second Issue timber certificates provided for Its creditors
H . M. Byllesby & Co. of Chicago are interested, filed on
under the decree.— V . 87, p. 290.
Indiana Lighting Co.— Reorganized.— This company was
incorporated at Indianapolis on Aug. 10 with $ 4 ,500,000
capital stock and an authorized bond issue of $5,000,000 as a
reorganization of the companies formerly controlled by the
Ohio & Indiana Consolidated Natural & Illuminating Gas Co.
(see plan V. 80, p. 984, 1534, and V. 84 , p. 871), namely:
La Fayette Gas Co., Indiana Natural & Illuminating Gas
Co., Ohio & Indiana Gas Co., Logansport & Wabash Valley
Gas Co. and Fort Wayne Gas Co. The directors of the new
company are:
Franklin L . Babcock, Anthony N. Brady. Charles F. Dleterlch. Frank S.
Hastings, James H . Lee, Albert Tag and James N. Wallace of New York
and Samuel T . Murdock and Henry C. Paul of Indiana.
Jamison Coal & Coke Co.— Bonds, &c.— The Mellon
National Bank of Pittsburgh in a recent circular offered
at par and interest $50,000 “ Alexandria purchase m oney”
first mortgage 5 % gold bonds, $1,000, dated June 1 1905,
part of an authorized issue of $1,000,000 (of which $100,000
paid off, leaving $900,000 outstanding), payable at the
Union Trust Co. of Pittsburgh, trustee, in thirteen annual
series; “ A ” to “ F ” each $50,000, “ G” to “ M” each $100,000.
Scries “ A ” payable June 1 1907, and one series in alphabetical
order annually thereafter, but subject to redemption on any
interest day at 105 and interest. Coupons payable June 1
and Dec. 1 at Mellon National Bank of Pittsburgh. The
circular says:
These bonds were given to the Alexandria Coal Co. to secure paym ent
of the residue of the purchase money for all Its coal, coal lands, real estate
and other property. They arc primarily secured by a purchase-money
first mortgage upon 1,084 acres of unencumbered steam and coking coal
situate In the "Grecnsburg Basin,” Hempfield and Salem townships, W est
moreland County, P a., with the surface lands, rights, tipples, sidings, 200
coke ovens and 75 double dwellings, known as Jamison W orks No. 4.
These bonds are also secured by a second mortgage covering all the other
lands, coal, surface and property of this company, consisting of 4,366 acres
of unmined steam and coking coal, 1,300 acres of surface, 700 coke ovens
and 225 double dwellings, situate also In the "Grecnsburg B asin ," Hempfield and Salem townships, Westmoreland County, and comprising plants
Nos. 1, 2 ,3 ami 5. The present capacity of coal production for shipment
Is 10,000 tons per day; and 2.400 tons of coke per day. The prior bonus
covering these four plants aggregate $945,000, payments on which, amount
ing to $75,000, mature annually.
Slncejthc Issue of these bonds, $150 000 has been expended for Improve
ments and additions to the Alexandria, or No. 4 plan t.— V . 81, p. 1613.
May 1 1906 a first mortgage with the American Trust &
Savings Bank of Chicago, as trustee, to secure an issue of
$3,000,000 5 % gold bonds, of which S I,380,000 have been
issued, including $88,000 held in the treasury.
The bonds are due May 1 1946, but subject to call on any Interest date
after N ov. 1 1910 at 105 and accrued Interest.
Denomination $1,000.
Interest payable May and November at the office of the trustee In Chicago,
at the First National Bank. New Y'ork, and the Eliot National Bank, Bos
ton.
Beginning May 1 1916 the sinking fund Is to receive each year for
the redemption of bonds an amount of cash equal to 1 % of the outstanding
bonds. There are no prior Hens.— V . 86, p. 1592.
National Enameling & Stamping Co.— Report.— For year
ending June 30, as reported in the daily papers:
Cross
Fiscal Year—
Profits.
1907-08 ----------(?)
1906-07 ........--$ 2 ,4 6 4 ,2 1 4
Net
D iv. on
7 % on
Profits.
\stM .Bds. Pref. Stk.
$311,822
$52,214
5598,262
1,703,400
64,583
598,262
Balance,
S u r .o r D e f.
def. $338,654
sur. 1,040,555
New Officers.— The following changesare announced:
Fredk. G. Nledrlnghaus, form er President, becomes Chairman of the
board of directors and Is succeeded by F. A . W . Kieckhefer, formerly First
Vice-President. Thomas K . Nledrlnghaus succeeds Mr. Kleclihefer as
First Vice-President, and G eorge W . Nledrlnghaus, director, becomes
Second Vice-President. George V . Hagerty has been made a member of
the Executive Committee, to succeed F. C. Nledrlnghaus. A n advisory
committee to the Executive Committee has been created, consisting of
George W . Nledrlnghaus and A . M. Stelnhardt.— V . 85, p. 525.
National Light, Heat & Power Co., New York.— G uaran
teed Bonds.— Bee Central Indiana Lighting Co. above.—
V . 80, p. 1238, 2402.
“ National Stock.” — See Bay State Gas Co. above.
New York & New Jersey Telephone Co.— Report.— Results
for six months ending June 30 were :
Fiscal
Gross
Year—
Earnings.
1007-08 _____ ...$ 4 ,5 1 4 ,5 1 2
1 9 0 6 -0 7 _______ . . . 4,170,938
— V . 87, p. 163, 170.
Net
Earnings.
$1,269,158
1,152,808
Total
Interest.
$78,117
42,950
Dividends Balance,
(3 H % ).
Surplus.
$883,225 $307,816
817,732
292,126
North Shore Consolidated Gas Co., Illinois.— Merger.—
New Bonds.— This company formed under the laws of
Illinois July 29 1908, with $2,000,000 of authorized capital
stock, by merger of the North Shore Gas Co. (V . 86, p. 725)
and the Wineaka Gas Co. (stock $5,000) has made a
mortgage to the Central Trust Co. of Illinois as trustee, to
420
T H E CHRONICLE
[VOL. LXXXVII.
secure an issue of §3,000,000 gold bonds dated August 1
1908 and due August 1 1938 ,but subject to call on or after
August 1 1913 at 105. Denomination §1,000. Interest
payable Q-F at office of trustee.
and improvements
'its, 5 2 1,841 ; transferred to reserve for losses, $39,630;
balance, dollclt for year, 3253,7 15.
For the year ending: March 31 1 0 0 7 .
gross earnings were reported as $4,580,421; net, $671,010; other Income,
a l l , 747. Coal salesi In 1007-08 were 3,0 3 3 ,2 8 8 tons and coke sales 1 4 0 , 3 3 3
tons.— V . 80, p. 1503.
ol lac isd-v. ^COa.O'JU arc tc In, put oat at once, S700.000 are reserved
to retire a like amount of outstanding: bonds of the North Shore Gas
Co. due .Jan. i lu a i, but subject to prior redemption at 105; and the re
maining $1 ,7 0 0 ,0 0 0 are reserved tor additions, & c., The company will
sill yas 1 i Waukegan .North Chicago, Lake Bluff, Lake Forest, Highland
P ar.,, i^ioertvylllc, Glencoe and VVlneaka. The President Is K . L. Ames
Secretary and 1 reasurer. W . Irvin? Osborne. Compare V . 8 6, p. 725.
Tunis Lumber Co., Virginia.— Property Sold.— A t the re
ceivers’ sale on June 30, timber lands in Surry County, V a .,
owned by the company were sold to the Cumberland Lumber
Co. for §03,300, the upset price being §40,000. Compare
V. 79, p. 2152.
Oxford (Me.) Paper Co.— Mortgage.— This company has
filed a mortgage for §500,000 with the Union Safe Deposit
& 1rust Co. of Portland, Ale., as trustee.
(The) Pacific Coast Company.— Mortgage by Subsidiary
Company.— The Pacific Coast Coal Co., a New York corpora
tion organized in February 1908, which now owns the coal
lands and leases formerly owned by the Pacific Coast Co.,
has filed a mortgage for §1,000,000 to the Pacific Coast Co.
to secure moneys received for advances made in connection
with the acquisition of the property.
The new mortgage covers, subject to the first mortgage
of 1897 of the Pacific Coast Co., certain coal lands and coal
leases. The §1,000,000 note which the new mortgage se
cures is owned by the Pacific Coast Co., and has been pledged
by it as additional collateral under the first mortgage of the
Pacific Coast Co. above nam ed.— V. 87, p. 100.
Pillsbury-Washburn Flour Mills Co., L td .— Receivership.
— Judge Milton D. Purdy in the Federal Court at Minneapolis
on Aug. 8, the company consenting, appointed Albert C.
Coring, Charles S. Pillsbury and Albert C. Cobb, all of
Minneapolis, as receivers for the company, upon application
of John S. Pillsbury, owner of 1,894 preferred shares and
1,978 ordinary shares,and the following Minneapolis banks,
creditors to the extent named, viz.: Security National
Bank, §75,000; First National Bank, §75,000; SwedishAmerican Bank, §50,000; Northwestern National Bank,
§125,000; Second National Bank, St. Paul, §15,000. The
company’s total indebtedness amounts to about §9,000,000^
of which some §5,000,000 is said to be unsecured. Charges
of mismanagement are made and on Aug. 10 Henry L. Little
resigned as President and General Manager.
Report, ifee.—-The company’s last annual report will be
found on a preceding page. For the last fiscal year the
company, it is asserted, did a business of §22,000,000. A
statement from one of the receivers says in substance:
Union Oil do. of California, L 03 Angeles, Cal .— Proposed
Stock Increase.- In the semi-annual report cited in our issue
ot Aug. 1 (p. 292) reference was made to a stock increase
plan which was proposed in a circular dated Juno 24 and
which would be carried out when ratified by the shareholders
on Aug. 20. The aforesaid circular, now at hand, says:
Tno company in the largest milling company la lac world;
u is also ti e
owner ot tae St. Anthony Falls W ater Bower C o., which controls .ill o ' t iwater power upon the easterly side of the Mississippi River at Minneapolis
and Is also owner or the Minneapolis Mill C o., wnicli controls all of the water
power upon the westerly side of the river.
In addition, the company owns
tnc Minneapolis & Northern Elevator Co. , which controls a line of elevators
on the Great Northern Ry. from Minneapolis to Devil’s Lake, this belli" a
subsidiary company whicn has served the parent comoany la the capacity
of buying and supplying the wheat needed In the prosecution of its business;Tiie Pillsbury “ A " mill, the largest Hour mill In the w y ld , has a dally
capacity ot 40,00(1 barrels; and there are live other mills, four li> Minn can ills
and one In Anok i.— V . 8 6 , p. 1347.
1
Portsmouth Berkley & Suffolk Water Co.— Guaranteed
Bonds— Earnings.— The Safe Deposit & Trust Co. of Pitts
burgh recently offered §40,000 first mortgage 5 % bonds
dated N ov. 1 1904, due N ov. 1 1944. Authorized issue
§2,5 00,0 00 ; outstanding §1,1 77,0 00 . A circular says:
These bonds are guaranteed as t j principal and Interest by-t 10 American
W ater W orks & Guarantee Co. Annual revenue. $ U ) , 3 3 ,p interest and
operating char vs, s i t ;,2 7.1;• n e t•revenue; $31,060*. -V . / ), p." 20 Vo '
Republic Iron & Steel Co.-— Report.— The results for the
year1ending June 30 were:
Fiscal
Year —
1007-08
1006-07
1005-06
1001-05
1003-04
— V . 87,
Gross
Deprec’n
Dividends on ■
B a L .s u r
proliis.
& charges.
P r e f . sa ck .
tor g e a r . ’
_____$ 4 ,0 4 6 ,6 )0 $2,075,270 (5 A ) $ 1,071,887 $499,534
_____ 6,127,742 2,398,497
( /) 1,420,183 2,300,062
_____ 4 ,750,476 2,011,015
(7) 1,420,133 1,300,373
-------- 2,508,068 1,134,461
----------------------- 1,373.607
_____ 1,306,063 1,560,250
(1)
3 5 7 ,2JGdef011,484
p. 220.
Accum ’c l
surplus.
4 .0 0 0 ,9 2 /
5 ,433,3 10
5,310,704
4 ,010,330
2,636,72 2
St. Glair Water Co.— Status— Guaranteed Bonds.— The
company’s first mortgage 6 % bonds are dated July 1894,
due July 1924. Interest payable January and July. Total
issue §500,000. Denominations §100, §500, §1,000. A
small block of the bonds was recently offered at 111 and
interest by the Safe Deposit & Trust Co. of Pittsburgh,
which says:
This Is an underlying company of the Chartlers Valley W ater C o., which
guarantees the.paym ent of principal and Interest of these bonds,'and which
has recently passed to the control of the South Pittsburgh W ater Co.
(V . 85, p. 600; V . 82, p. 1045). Tne charter rights of the litter company
cover all that part of Allegheny County lying soutli of the MonorwaliolaRiver opposite tho city of Pittsburgh / extending from a point opposite the
McKeesport to McKees Rocks, soutli to Washington County.
The South
Pittsburgh W ater Co. Is utvkr tho management of the American W ater
W orks and Guarantee Co. Compare V . 85, p. 602.
Shannon Copper Co.— Called Bonds.— Eighty-one (§81,000)
first mortgage. 7s drawn by lot will be paid at par and in
terest Sept. 1 at Boston Safe Deposit & Trust Co.—-V.8&,
p. 1344.
South Pittsburgh Water Co.,— See St. Clair Water Co.
above.— V. 85, p. 600.
Sterling Goal & Coke Co .— Bonds Offered.— The Safe De
posit & Trust Co. of Pittsburgh recently offered at prices to
yield 52% §62,000 first mortgage 5 % bonds, dated March
1906, due March 1911 to 1925, inclusive. Total issue
§500,000.
The company owns 546 acres Pittsburgh vein coal and 112 acres surface
located In -Fayette County, on th o-Monongahela River near Masontowri
Pa. Compare V. 83, p. 442.
Sunday Creek Co.— Report.— For year ending March 31
1908 earnings were-:
Total earnings, $5,108,359; net earnings over taxes, $750,042; Interest
on bonds, sinking funds, & c,, $830,630; Interest on bills payable, 3119,402;
extraordinary expenses, account Hood March 1007, $2,154; betterments
On June 20 there was mailed notiej of a special me tin-- of m.- -io r P holders, to be held Aug. 20 1008 at Oleum, Co.Ura G ^ U Gounty Ca -.
o
nnnslrlpr
;int. linnn tnn m-nnns t on +,•» i
..... .
.......... . .
.
,
.
,,
■ ol*e they now hold. " Under these
circumstances tnc directors are considering the advisability of declaring
the surplus profits equivalent to $ 2 0 0 per share
TUhv
also deem it advisable l . sell an equivalent amount of treasury stock.
Hie natural effect of the paym ent ot tae dividend and the subscription for
a dividend f r o m
for each one share no v owned by them ;
~~
‘ toCK
Should the company decide to declare the dividend suggest-d the -ub
scrlptions for stock would then become payable and t h e 'dividend could
be so arranged that you would have no difficulty In paying your subscrip
tion for the new stock.
'
1
After such Increase of the Issued capital stock, a relative reduction
would he made In the amount of dividends paid on each share, but the total
amount or dividends thereafter received by you would not be reduced.
The plan of the directors as outlined by them would leave considerable
stock In the treasury and place the company In a position to take advantage
of any opportunity to enlarge Us business whenever such action seemed wise.
It Is especially desired that you subscribe for your proportion of the new
stock, and return, duly signed, the enclosed subscription and also the
enclosed proxy. Compare annual report lu V. 87, p. 222, 202.
Uniontown (Pa.) Water Co.— Bonds Offered.— The Safe
Deposit & Irust Co. ot Pittsburgh recently, when offering
at par and interest §40.000 first mortgage 5 % gold bonds
(dated Jan. 2 1905 and due Jan. 2 1935; interest'Jan. 2 and
July 2 at National Bank ot Fayette County, Uniontown, P a .;
authorized issue §250,099; outstanding §200,000), said:
The company was chartered In 1883, under the A ct of April z,t 1,8/ t and
rrPi1 1I C
U
!"Vit iU! DilvMJefge of supplying water to the Borough of
Uniontown. Capital stock $100,000, all fully paid uo. The com pany
serves a pomilat on of 15 000 and for the last (h od year the net earnings
were equal to four times tne annual Interest charge.
United Box Board & Paper Go.— Protective Committee.— A.
large number of the bonds has, it is reported been deposited
with the Mercantile Trust Co. of Boston, which has formed a
protective committee to look after the interests of the hold
ers of the bonds.— V. 87, p. 229, 100.
United Gas Improvement Co., Philadelphia.— Results in
Philadelphia. — See Equitable Gas Light Co. of Philadelphia
above.— V. 87, p. 292.
United States Envelope Co.— Report.— For the year endihgr
June 30 :
Fiscal
Net
Year.
earnings.
lo O /-0 3 ---------$ 5 51,1 68
1906-07 -------- 721. i 57
V . 85- p. 525, 460.
in', on
bonds.
$127,570
132,3 38
I)spreelation.
$85,605
136,00 5
Sinking Died. 6 % Ilalanco,
fund, o n v r e f d .
is.trm■■■
$75,000
$225,000 $37,093
7 5,00 0 2 2 5,00 0
153,5 5 4
Vermont Power <fc Manufacturing Co., St. Albans, V t .—
Status.-— This company, incorporated on June 27 1902 under
the laws of New Jersey, with §100,000 authorized capital
stock in shares of $100 each, owns a 1 power plant at Fairfax,
V t., and also the controlling interest in the St. Albans (V t.)
Electric Light & Power'Co. The following was published
some time ago, but is not confirmed
There are outstanding $250,000 first mortgage 5 % gold bonds due May 1
1028 and $160,000 of an authorized Issue of $250,000 ’ *30-year 5 % gold
bon ds" due Feb. 1 1935. The com pany, It Is understood, lias paid no d ivi
dends on Its stock, but It Is paying prom ptly tbc Interest on its bonds.
The American Pipe Manufacturing Co. of Philadelphia owns a majority
of the stock and bonds, namely. It Is stated, $65,300 stock, $131,000 first
5s and $108,500 second mortgage 5s. The hydro-electric plant at Fairfax
Is valued at $260,000, Its total output capacity being 2.250 horse-power.
The St.-AIban-i plant Is valued at $6,000.
Power Is supplied to the St.
Albans Street Hallway.
President. C. C. Chesney, Pittsfield, Mass.; V ice
President. J&s. S. Keen Jr.; Treasurer, W . II. Voroe, and Secretary,
H . Bayard Hodge. Philadelphia.
Washington County Coal C o.—-,Vciv Receiver.— -E. T. Kurtz
of Now-Castle, Pa., was on July 14 appointed receiver of the
company, replacing N. B. Sanford, who was made temporary
receiver in April 1907.— V. 84, p. 756.
Western Elevator Cd., "Winona, Minn. Acquisition.—
This company, which deals in grain and operates elevators in
Iowa, Minnesota and South Dakota, was recently reported
in the press dispatches as having purchased the properties
of the Northern Grain Co. for a large sum. Secretary II. E .
Tearse, under date of /Vug. 8, writes:
Replying to your favor will say tn.at the type must have gotten m ixed
with reference to our purchase of the Northern Grain Co. properties.
We
bought their country elevators and also their terminals at Manitowoc for
$200,000 and not $2,000,000. This simply means a small addition to our
business. W e are In the same lino ot elevator business as forty other con
cerns In the W est and are not trying to revolutionize the grain business
In any way as suggested by some of tho Eastern papers
(The com pany’s
officers are: Charles Horton. President; W . B. Parsons. 1st Vice-Presi
dent; W . P . Tearse, 2d Vice-President; C. P. Cranglo, Secretary- R E
Tearse; Treasurer.)
— The bond house of JI. P. Taylor & Company, 248
Fourth Avenue, Pittsburgh, P a., has issued a special
monthly review regarding the business situation.
AvCc. 15 1908. j
THE
■SEfee
421
C H R O N IC L E
SHmes.
C O T T O N .
Friday Night, August 14 1908.
T H E M O V E M E N T OF T H E CROP as indicated by our
C O M M E R C IA L E P IT O M E .
telegrams from the South to-night is given below. For the
Friday Night, Aug. 14 1908.
week ending this evening the total receipts have reached
Though the outlook is encouraging, it is none the less a 24,039 bales, against 21,876 bales last week and 26,759
fact that trade revives but slowly. Increased transactions bales the previous week, making the total receipts since
are the rule, but there are no increases by leaps and bounds. the 1st of September 1907, 8,266,041 bales, against 9,689,351
The general sentiment, however, is more cheerful, partly bales for the same period of 1906-07, showing a decrease
owing to the rise in securities to new high records for the year. since Sept. 1 1907 of 1,423,310 bales.
Moreover, crops promise well, and the prospects for the fall
Receipts at—
Wed. Thurs. Fri.
S a t.
Total.
Mon. Tues.
trade are considered favorable.
3 ,2 9 ;
1 .0 7 6
1 ,8 1 0
5 ,2 7 2
3 ,8 7 4
1 7 ,9 8 3
2 ,6 5 7
L A R D on the spot has declined, owing to larger receipts Galveston,_______
F o r t A r t h u r _____
of hogs, a decline in the future market at the W est, the de Cor p .C h r is . , & c .
"4 2 2
395
” 39
"5 0 2
1 ,8 4 9
"4 9 1
pression in wheat and increasing supplies. The decline has M aw O r l e a n s _____
M e :.lie ...................
74
1
364
’ "3 6
132
32
89
not stimulated the dem and. Small jobbing sales have been P e n s a c o l a ________
made of late at 9 .3 5 @ 9 .4 5 c . for Western and 9 ^ c . for City. J a c k s o n v il l e , & c .
______
158
” 23
160
"3 7 5
1 ,2 0 5
"4 1 2
” 71
Refined lard has declined on the increased movement of Savannah
B runsw ick...........
6
hogs, larger supplies of product and dulness of trade. R e C h a r l e s t o n ______
"1 6 2
1
2
" lid
3
” *5
r g e t o w n ------fined Continent 9.9 0c ., South America 10.65c. and Brazil, GWeiol m
i n g t o n ------” 34
in kegs, 12.15c. Speculation in lard futures has been active, N o r f o lk _________
1 ,4 6 3
"si
"1 4 4
64
” 44
1 ,8 0 0
N ’p o r t N ew s, & c
at declining prices. Depressing factors have been the liberal N
e w Y o r k _______
2
” 32
” 30
movement of hogs, dulness of the spot trade, weakness in B o s t o n __________
"2 0 9
::::
209
B a lt im o r e ---------476
476
grain and general liquidation.
” ”
P n il a d e l p h i a -------D A IL Y
C L O S IN G
P R IC K S
Sat.
S e p t e m b e r d e l i v e r y ______0 .5 0
Oct i')c : de l ,x r y _______ 0 . 5 7 ^
January deliv> r v . _____ 9.27 .
OF
LARD
Mon.
9 .4 5
9 .5 2 H
9 .3 0
FUTU RES
Vues. Wed.
9 .4 7 lA 9 .3 0
9 .5 7 yi 9 .4 0
9 .3 7
. .2 .
IN
CHICAG O.
Thurs
9 .2 5
u. :5
9 .1 7
Fri.
-i
9 .2 5
9 ..5
0 . 1 1Vi
P O R K on the spot has ruled firm, despite the larger hog
receipts. Sustaining factors have been light supplies and
a moderately active demand. Mess $17 2 5 @ $ 1 7 75, clear
$17 5 0 @ $ 1 8 75 and family $ 1 8 @ $ 1 8 50. Beef has been
moderately active and generally firm. Supplies are light.
Mess $13 5 0 @ $ 1 4 , packet $14 5 0 @ $ 1 5 , flank $14 50, family
$ 1 7 @ $ 1 7 50 and extra India mess $ 2 4 @ $ 2 5 . Cut meats
have been dull and easy but without important change.
Pickled Western hams 12 @ 1 2J ^ c ., pickled bellies 1 4 @ 1 0 ,
lbs., 9 j4 @ 1 0 V £ c . and pickled shoulders 6 % c . Stearines
have been quiet and steady; oleo 12j^c. and lard 11
Tallow has been quiet and steady; City 5 % c . Butter has
been in moderate demand and firm; Creamery extras 23c.
Cheese has been quiet and steady; State, f . c.,.sm all, fancy,
12c. Eggs have been quiet and steady; Western firsts 18 ^
@ 19^c.
.O IL.— Cottonseed has :been extremely dull. Prime sum
mer yellow 41c. Linseed has been steady, with a moderate
demand for small lots. City, raw, American seed, 4 4 @ 4 5 c .;
boiled 4 5 @ 1 6 c . and Calcutta, raw, 70c. Lard has been
quiet and easier, owing to the larger supply of the raw ma
terial, but without important change. Prime 6 8 @ 7 0 c . and
No. 1 extra 5 4 @ 5 5 c . .Cocoanut has .been quiet and steady;
Cochin 7 @ 7 3 ^ c . and Ceylon 6 J 4 @ 6 /^ c . Olive has advanced
on small supplies; yellow 8 5 @ 9 5 c . Peanut has been quiet
and steady; yellow 6 5 @ 8 0 c . Cod has been in moderate
demand and steady; domestic 4 0 @ 4 2 c and Newfoundland
42@44c.
C O FFEE on the spot has been dull and easier. Rio N o . 7,
6 @ 6 3 ^ c .; Santos No. 4, 8 @ 8 j ^ c . West India growths have
been quiet and steady; fair to good Cucuta 8 j ^ @ 9 ^ c . The
speculation in future contracts has been on an extremely
small scale. Europe has bought here to some extent at
times, but local longs in some instances have liquidated,
having become tired at the failure of the market to move.
Local dealers and roasters have bought at times.
The closing prices were as follows:
A u g u s t _____________ 5 . 6 5 c . D e c e m b e r _________ 5 .4 5 c . A p r i l _______ . . . - 5 5 0 c .
J a n u a r y ------------------ 5 .4 5 c . M i r y ______ ________ 5 . 5 5 c .
S e p t e m b e r _______ 5 .0 0 c .
O c t o b e r ____________5 . 4 5 c . F e b r u a r y -------------- 5 .4 5 c . J u n e ________________ 5 .5 5 c .
N o v e m b e r ________5 . 4 5 c . M a r c h ........... ............. 5 . 5 0 c . J u l y ______________ 5 . 0 0 c .
S U G A R .— Raw has been dull and easier. Centrifugal,
96-degrees test, 4.08c., muscovado 89-degrees, test 3.58c.
and molasses, 89-degrees test, 3.28c. Refined has been
quiet and easy. Granulated 5.10c. Teas have been in
moderate jobbing demand and steady. Spices have been
moderately active and generally steady. Wool has been
quiet and steady. Hops have been dull and steady; crop
reports are more favorable.
P E T R O L E U M .— Refined has been steady with a good
demand for export and domestic account. Refined barrels
8.7 5c., bulk 5c. and cases 10.90c. Gasoline has been
moderately active and firm; 86-degrees in 100-gallon drums
19c.; drums $8 50 extra. Naphtha has been fairly active
and easier; 73@76-degrees in 100-gallon drums 16c.; drums
$8 50 extra. Spirits of turpentine has been quiet and
steady at 39 @ 3 93 ^c. Rosin has been dull and easier;
common to good strained $2 90.
TO BACCO.— The demand for domestic leaf has con
tinued on a hand-to-mouth basis.
Some Western buyers
have arrived, but no sales of importance have been an
nounced. There is a general disposition, however, to take
a. cheerful view of the outlook for fall trade. Havana and
Sumatra have been quiet. Prices have been steady as a
rule.
^COPPER, has .been quiet and firmer; Lake l ‘Z'iA @ ,V 3 % c .
and electrolytic
IjCad lias bcen (luiet aiui
steady at 4.60c. Spelter has been quiet and steady at
4 .7 0 @ 4 .7 5 c . Tin has been quiet and .easier; Straits 3 0 % c .
Iron has been more active and firmer; No. 1 Northern
$16 7 5 @ $ 1 7 25; No. 2 Southern $16 7 5 @ $ 1 7 25.
■T o ta ls
1 ,9 0 9
w eek . -
3 ,9 5 4
5 ,6 6 3
3 ,9 5 3
3 ,1 9 5
2 4 .0 3 9
5 ,3 6 5
m
The following shows the week s total receipts, the total
since Sept. 1 1907, and the stocks to-night, compared with
last year:
1 9 0 7 -0 8 .
Receipts to
August 1 4 .
Stock.
1 9 0 6 -0 7 .
This Since Sep This Since Sep
week. 1 1 9 0 7 . week. 1 1 9 0 6 .
G a l v e s t o n _________
F o r t A r t h u r --------C a r p . C h r ls t l, & c_
N o v Q r l e a n s ------M o b i l e ____________
P e n s a c o l a _________
.J a c k s o n v ille , & c .
S i v ii n n n h _________
B r u n s w i c k -----------C h a r l e s t o n -----------G e o r g e t o w n ------___
W i lm i n g t o n
N o r i o i k ____________
N ’ p ort N ow s, & c.
N e w Y o r k _______
B o s t o n ____________
B a lt i m o r e -------------P h i l a d e l p h i a _____
1 7 ,9 8 3 2 ,5 3 6 ,1 5 9
108 5 0 0
------- -3 7 ,8 2 5
1 ,8 4 9 1 ,9 9 1 ,7 5 2
364
3 3 1 ,8 9 5
______
1 6 7 ,4 6 5
8 ,5 4 3
1 ,2 6 5 1 ,5 1 5 ,4 3 8
J
1 9 7 ,9 0 3
2 0 1 ,8 6 1
119
822
5 0 0 ,7 8 7
2
5 4 6 ,0 7 5
1 ,8 0 0
8 ,4 6 1
4 ,2 2 7
" ” 32
209
1 5 ,8 9 3
8 1 ,8 2 6
476
9 ,7 0 9
3 ,8 4 4 1 .8 6 6 ,0 5 0
1 3 2 ,8 2 3
7 1 ,8 3 5
” .9 4 6 2 ,2 9 3 ,6 2 8
2 5 7 ,9 7 4
1 ,1 2 4
______
1 4 4 ,5 0 0
7 ,7 0 0
1 ,661 1 ,4 7 2 ,5 6 5
1 7 0 :6 0 0
295
1 4 9 ,3 1 2
1 .2 7 0
ill
3 2 2 ,6 7 0
573
5 8 0 ,2 1 0
______
4 2 ,9 0 1
2 3 ,0 0 4
7 2 ,7 9 4
'
55
.6 2 ,3 7 0
108
48
1 0 ,9 0 8
T o t a l ____________
2 4 ,0 3 9 8 ,2 6 6 ,0 4 1
8 ,7 6 3 9 ,6 8 9 ,3 5 1
1908.
1907.
3 5 ,9 3 1
21 6 6 7
3 0 .2 8 C
2 ,4 7 9
________
6 0 ,7 6 0
3 ,0 5 7
2 3 ,0 3 5
________
8 ,1 9 7
________
727
4 ,6 5 8
_______
6 7 ,6 3 1
4 ,5 4 7
6 ,1 1 0
1 ,7 1 2
1 5 ,9 0 0
695
4 ,2 3 5
405
6 .0 4 0
_
1 9 4 ,6 5 7
4 ,1 5 4
3 ,2 4 8
1 ,7 1 2
1 8 5 ,3 4 3
2 9 7 .0 9 0
In order that comparison may be - made with other years,
Receipts at— ■
1908.
1907.
G a lv e s t o n , & c
F t. A r th u r ,& c .
N o w O r le a n s _
M o b i l e _______
Savannah —
B r u n s w ic k .- C b a r le s t o n ,& c
W ilm in g t o n ..
N o r fo lk
N ’ p o r t N ., & c.
A l l ,o t h e r s -------
1 7 ,9 8 3
3 ,8 4 4
1 ,8 4 9
364
1 ,2 0 1
9 4C
1 ,1 2 4
1 ,661
lid
295
111
573
717
T o t a l t h is w k .
2 4 ,0 3 9
S ln c e S e p t
2
1 ,8 0 9
1906.
1904.
1905.
1 0 ,8 6 3
48
1 ,0 7 6
459
7 ,2 7 2
•21,601
209
1 ,3 2 1
47
2 ,0 5 5
367
868
1 1 ,7 5 3
847
4 .8 0 9
_
74 6
659
3 ,7 0 8
57
5 ,0 4 5
8 ,7 0 3
3 1 ,2 7 6
5 0 ,2 1 8
8 .7 0 3
__
1 ,4 3 3
11
1 ,2 5 9
1903.
172
________
600
80G
72
________
6
28
161
294
688
1 4 ,0 3 0
2 ,0 2 1
1 ,0 0 3
43
787
1 . 8 ,2 6 6 ,0 4 1 9 .6 8 9 ,3 5 1 7 ,7 8 4 ,4 6 8 9 ,9 6 2 ,4 4 0 7 ,1 3 7 ,2 9 6 7 ,6 3 9 .4 6 2
The exports for the week ending this evening reach a total
of 29,708 bales, of which 6,184 were to Great Britain,
____ to France and 23,524 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1907:
Week ending Aug. 14 1908.
Exported to—
Exports
jroni—
Great
1 ContiBritain. Fr'ncc\ nenl.
Galveston------; 4,215
Fort Arthur__
Corp.Chris.,&c.
Now Orleans. _ 1,445
Mobile......... - 50
Pensacola____ _____
_____
Fernand lna - Savannah ____
—
Brunswick
Charleston-----.........
VVllmlngton...
Norfolk______
Newport News
276
Now York____
198
Boston
Baltimore____
_____
Philadelphia . .
Portland, M e.. ______
_____
San Francisco .
—
Seattle ...........
Tftpnm.i
Portland, Ore. _____
_____
Pembina------Detroit.............. ...........
T o ta l...........
6,184
Total 1903-07.
683
____
____
....
____
____
____
Total.
Great
Britain.
France
11, 539 15,754
919,143 347,227
48,024
9,378 10",823
50
.........
_____
1,544
887,344 240,540
71,220 73,034
50,557 54,912
.........
_____
1,544
___
708
" ‘ 355
170,902 9l", 150
87,707
10,408
139,125 28,520
32,491 .........
70S
..
1,036 .........
631 270,207 34,683
198 143,978
: 49,298 4,149
_____
39,349 _____
1
[ ______
_____
[ ---------
____
____
.........
_____
....
.........
____
____
1 .........
_____ ! .........
1 .........
—
From Sept. 1 1907 to Aug. 14 1908.
Exported to—
______
—
2.111
_____
_____
—
Continent.
Total.
962,778 2,229,148
60,476 108,500
2,895
2,895
734,996 1,862,886
110,062 254,316
67,744 173,213
______
628,622 890,074
88.208 175,915
34,050
44,458
325,185 492,830
7,094
39,585
1,636
314,626 619,516
12,214 156,192
64,392 117,839
55,467
16,118
______
1
48,622
48,622
71,780
71,780
30,896
30.896
1,050
1,050
______
______
2,111
—
23,524 29,7081 2,923.501 874,22l|3,581.208 7,378.930
446 j 6,520 1
7,649 |3,781,413 907,316j3,691,169 8,579,898
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared at the ports named. W e add similar figures for
New York.
C H R O N IC L E
200
750
Total 1 9 0 8 ..
Total 1907. .
Total 1 9 0 6 ..
4,659
2,898
4,917
731
8,751
797
6,812
65L
—
5,557
3.64-1
9,702
701
400
10,582
6,397
6,75t
Total.
36C
1,001
4,379
22,095
” 32
3,000
"682
3,000
1,500
1,400
25,907
13,286
23,035
8,197
1,777
1,658
66,131
11,696
33,656
21,027
36,572
151,687
276,563
155,130
"600
25C
8,459
1,990
7,567
4,399
6,097
7,630
Speculation in cotton for future delivery has at tithes been
somewhat more active but it has been at the expense of
prices, which on most months have fallen, roughly, $2 50 to
S3 a bale, though August closed higher. The selling has been
partly for long account and also to no inconsiderable extent
for short account, selling which has been generally attributed
to large interests. The transactions of the week have, in
deed, resolved themselves for the most part into a struggle
for the control of the market on the part of Wall Street and
Western interests representing the bull side on the one hand
and local and other people representing the short interest
on the other. It is understood that prominent Western
bulls liquidated several days ago and that Wall Street
advocates of higher prices have reduced their holdings to a
considerable extent within a week or ten days, although in
the general estimation remaining committed to the long
side through important holdings of October and other
months. Aggressive bearish pressure has told, however,
very noticeably, and so have such legitimate factors as gen
erally favorable weather, cheerful crop accounts from most
parts of the belt, the comparative slowness of the spot trade
in raw cotton, and also of the business in cotton goods, al
though two large auction sales have, on the whole, it is
stated, brought satisfactory prices. Spot interests have
it appears, sold freely and the South has been a steady
seller against actual cotton. The speculation, too, has
continued for the most part of a narrow, professional charac
ter, and the contest between large interests has not tended
to make it less so
Meantime, although the receipts at the
South have been large, the stock here has continued small,
and, owing to the discounts still prevailing here, it seems out
of the question to bring cotton to New York except at a
considerable loss. From present appearances, therefore,
there is no immediate prospect of the stock being replenished!
The general opinion is that the crop is looking well, that the
yield promises to be very large, far larger than the world’s
requirements of American cotton, and that unless something
happens to the plant the indications point to lower prices,
although a crop scare might for a time, at least, have the
effect of advancing the market, as the short interest is
believed to be large, not only against futures, but also
against sales of the actual cotton for fall and winter delivery.
To-day covering by August shorts advanced that month 50
points. Other options advanced moderately on short liqui
dation. Spot cotton has been quiet. Middling upland
closed at 10.60c., a decline for the week of 25 points.
The rates on and off middling, as established Sept. 11 1907
by the Revision Committee, at which grades other than
middling m ay be delivered on contract, are as follows:
F a ir ..................... c. 1.75 on Middling............. c.
Basis
Strict mid. fair____ 1.50 on Strict low mid.......... 0.30 off
Middling fair_______1.25 on Low middling_____ 1.00 oft
Strict good mid____ 0.75 on Strict good ord_____1.50 oft
Good middling____
0.50 on Good
-------- VJ.'JVJ
yjiA oordinary_____2.00
u i i u u y -------- U II
off
Strict middling------ 0.25 onl Strict g’d mld.tgd_0.35 on
Good mid. ting'd C- Even
Strict mid. tinged..0.20 oft
Middling tinged . _ .0.30 oft
Strict low mid. ting. 1.00 off
Low mid. tinged. ..1 .5 0 off
Middling stained ..1 .2 5 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
AU0. 8 to A ug. 14—
Sat.
Middling u p la n d ............................ 10.75
/Mon.
10.65
Tues.
10.55
W ed .
10.50
T/iurs.
10.00
Fri.
10.60
The quotations for middling upland at New York on
A u g .14 for each of the past 32 years have been as follows:
1 9 0 8 .c ____
1907_______
1906_______
1905_____
1 9 0 4 ..
1903_______
1 9 0 2 ...
1901 . . .
.1 0 .6 0
.1 3 .2 5
_ 10.40
10.55
. 10.55
.1 2 .7 5
. 9.00
. 8.00
1 9 0 0 .c . . ..1 0 .1 2
1899____ . . . 6.38
1898____ . . 6.00
1897____
1896.
. . . . 8.19
1895____ . . 7.56
1894____ . . . 7.00
1893____ . _ . 7.56
1892 c ____
1 8 9 1 _____
1890_____
1889 . . .
1888_____
1887 _____
1886_____
1885_____
- 7.19
. 8.00
.12.06
.11.31 1881_________12.00
.11.38 1880________ 11.56
. 9.75 1879_________ 11.19
- 9.44 1878_____
11.84
. 10.44 1877_________11.38
M A R K E T A N D SA LES A T N E W Y O R K .
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
S a tu rd a y ..
M onday___
Tuesday . .
Wednesday
Thursday .
F r i d a y ___
Total
Spot Market
Closed.
Futures
Market
Closed.
Quiet 10 pts dec____
Quiet 10 pts dec____
Quiet 10 pts dec____
Quiet 5 pts dec..........
Q u i e t .......... ..............„
Quiet 10 pts adv . .
Steady______
E a s y ________
Barely st’ dy
Bare y st’dy
Steady______
Steady______
..
Sales of Spot and Contract.
ConFzpor, sum’n.
Con
tract.
Total.
1.701
1.700
901
2,300
” 60
900
2.300
1,900
4,960
F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
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New Y o r k ____
Other p o r ts ___
701
4,20(
Leaving
stock,.
—
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9.11 —
1,778
1,931
Other Coast
Foreign wise.
9 .0 8 @
9 .0 9 —
New O rlean s..
G a lv e sto n ____
Savannah ____
Charleston____
M o b ile ________
Ger
many.
9 .1 3 ©
9 .1 4 —
On Shipboard, Not Cleared for—
Great
August 14 at— Britain. France
[V O L L X X X V II
—
@
9 .1 2 —
THE
9 .3 3 ©
9.33 —
422
cm
d
@|
©|
11
11
11
1 1
11
11
11
11
©I
©I
«>e oS
bsH fcfl.S bo.2 &
be.2
tf .5 t x .S II to.2 am
. c ;« § o |§ o £ § o I go I §o
“ .......................
i
jjKO gPnoJjKO
i-K o gijr
C C o c K u =>Pho
co
6
-
-Q
S
£
S
©
Pc
M.S
it5
I *2,
*
T H E V IS IB L E SU PPL Y OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week’s returns, and conse
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from
the United States, including in it the exports of Friday
only.
August 14—
Stock at Liverpool. . —
.bales.
Stock at L o n d o n _________________
Stock at M anchester_____ ______ _
1908.
421 ,000
15,000
51,000
1907.
854,000
22,000
65,000
1906.
463,000
16,000
49,000
1905.
730,000
18,000
50,000
Total Great Britain s t o c k ____
Stock at Ham burg________________
Stock at Bremen . . ____________
487,000
24 ,000
212,000
941,000
18,000
173,000
528,000
19,000
107,000
91,000
4,000
30,000
20,000
18,000
142,000
3 ,000
19,000
21,000
40,000
74,000
4,000
10,000
26,000
6,000
798,000
14,000
211,000
1,000
83,000
3,000
18,000
9,000
3,000
3 99,000
416,000
246,000
342,000
Stock
Stock
Stock
Stock
Stock
at
at
at
at
at
H avre------------------------------Marseilles____ ___ _______
B arcelona...........................
G enoa...................... ..............
Trieste . ________________
Total Continental stocks.
____
Total European stocks_________
India cotton afloat for E u ro p e .. .
American cotton afloat for Europe
Egypt, Brazil,&c.,afloat for Europe
Stock In Alexandria, E g y p t _____
Stock In Bombay, I n d ia _________
Stock In U. S. p o r ts _______________
Stock In U. S. interior t o w n s ____
U. S. exports to-day_______________
886,000 1,357,000
108,000
63,000
27,609
83,503
22,000
20,000
3 1,000
70 ,000
609,000
43 6,000
297,590
185,343
119,189
83,695
261
1,314
774,000 1,140,000
74,000
138,000
95,689
196,000
16,000
23,000
34,000
52,000
667.000
673,000
191,702
336,705
1 17,872
126,254
1,761
15,900
Total visible supply____ _____ 1,863,226 2,537,208 1,972,024 2 ,700, 859
Of the above, totals of American and other descriptions are as follows:
American —
. 310,000
727,000
356,000
653,000
40.000
5 3 ,000
43,000
43,000
318,000
318,000
187,000
306,000
83,503
27,609
95,689
196,000
. 185,343
297,590
191 ,702
336,705
119,189
83,695
1 17,872
126,254
261
1,314
1,761
U . S. exports to-day__________
15,900
Total A m e ric a n ____________
Fast Indian, Brazil, & c.—
.1 ,0 5 6 ,2 9 6
.
London stock__________
Manchester stock_______
Continental stock............
fndla afloat for Europe.
.
.
111,000
15,000
11,000
8 l ,000
63 ,000
20,000
70,000
436,000
1,508,208
127,000
22,000
12,000
98,000
108,000
22,000
3 1,000
609,000
807,000 1,029,000
1,056,296 1,508,208
993,024 1,676,859
107,000
16,000
6,000
59,000
74,000
16,000
34,000
667,000
77,000
18,000
7,000
36,000
138,000
23,000
52,000
673,000
979,000 1,024,000
993,624 1,676,859
2,537,208 1,972,024 2,700,850
Total visible s u p p l y ........ .1 ,8 6 3 ,2 9 6
riddling Upland, Liverpool_____
5.9
5.92d
2d.
7.2IH1.
5 .D id.
5.80d.
Middling
Middling
Ilddling Upland, New Y o rk ____
10.60c.
13.25c.
10.20c.
10.75c.
Egypt,
8Mjd.
gypt, Good Brown, L iverpool-ive rp ool..
8
i£ d . 11 5-10d .
HHd.
8 )^ d .
Peruvian.
eruvlan. Rough Good, Liverpool
D.OOd.
D.OOd.
11.75(1.
8 .65d .
0 .6 5 d .
roach, Fine,
5-16d.
6J4<1.
5 7-16d .
5 9-16d .
Broach.
Fine Liverpool_________ 5 5-10d.
Tlnnevelly,
lnnevelly, Good, Liverpool_____
5d.
5Vt d.
5H d.
5K d;
Continental imports for the past week have been 53,000
bales.
The above figures for 1908 show a decrease from last
week of 88,632 bales, a loss of 673,912 bales from 1907,
a decrease of 108,728 bales from 1906, and a loss of
837,563 bales from 1905
Aua. 15 1008
THE
423
C H R O N IC L E
AT T H E IN T E R IO R T O W N S the m ovem ent— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items
for the corresponding period for the previous year— is set
out in detail below.
Q U O TATIO N S FO R M ID D L IN G COTTON A T O T H E R
M A R K E T S .— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
Closing Quotations for Middling Cotton on—
August 14.
Galveston _____
New O ,le a n s ._
Mobile
_______
Savannah _____
C h a rle s to n ____
W ilm ington.
.
N o r fo lk ________
Boston ________
B altim ore_____
Philadelphia___
Au gusta________
Memphis . ____
St. L o u is .. ___
Houston
____
Little R ock____
1 1 1
H* M
A
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-*>-*Co © CO © Ci M© Co ©
©1 C
O1 tO © tO © © CO CO O O C O i •v]©tO>fckCOCl>U*fc**vl©©©CO©OOCO
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l
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t © i © l COCOCO©!— ro^*O O C «—‘ 4 -»C «C O C l© ^ 0 0'v lQ O © C l© C O C lC O O O C O ©
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21,696
177.864
107.394
68,092
241,690
23,000
107,40?
143.37?
.169,348
55,080
56.430
54,481
8.505
197 59?
51,599
66,921
80,012
97.154
74,038
86,110
55,171
808.167
19,112
154,23?
22,004
956.189
20.814
16,719
39,029
99,567
.13.731
2,939,531
98,981
(
4*( m* 8-*
t
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to
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i tOQOM i 4* COOOCO-d CO© i O ' t—
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4*1 l 1 -J *t "O«d “OCR 4* cn or mi O © © COto O M C» ^ C9© to <*.i -vs •■» o
A ug.
16.
|
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(
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1
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00
S to c k s
7,351,047 | 13,471 j 83,695
1 C91
1 lUi
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it*
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o
R e c e ip ts .
S h ip
m en ts.
W e ek . I S ea so n . \ W eek .
00 1 *^1 1 1
,
,
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10 5-16
10%
10 %
10%
10%
10%
10 %
10%
10%
10%
li
10.85
11 4
10%
10.75
11%
10.90
1 0 *$
10%
10%
10%
10.65
11.4
10.80
10%
1 0 .1-16
1 0 *$
104
11. 00
10 %
10%
10 %
10 7-16
10
10
10
104
10
1 0 *$
10
104
10 4
104
10
10
10 1-16
10
10
94
104
94
104
104
10.50
104
10.50
11
11
11
10.75
10 4
1 0 1-16
1 0 *$
10 4
9 *$
104
10 1-16
104
10
10.75
10.85
1 0 *$
104
94
10 4
10
9*$
Sat’day, Monddy. Tuesday. Wed'day Thursd’y, Friday,
A ug. 8. Aug. 10. Aug. 11. A ug. 12. Aug. 13. A ug. 14.
S'
I*
Ship Stocks
ments. August.
Week.
i 1! -
to
CO
to
Monday. Tuesday. Wed'day. Thursd'y. Friday.
10 7-16
1 0 *$
10 4
10%
10%
N E W O R L E A N S OPTIO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Receipts.
'
Week. | Season.
23,699
1
l
l
Sat'dau.
The above totals show that the interi or stocks have de
creased during the week 5,555 bales and are to-night 35,494
bales more than at the same time last year. The receipts
at all the towns has been 14,759 bales more than the same
week last year.
O V E R L A N D M O VEM EN T FOR T H E W E E K A N D
SINCE SEPT. 1.— We give below a statement showing
the overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
August—
Range _____
Closing_______
September—
Range _______
Closing_______
October—
Range _______
Closing______
November—
Range _______
Closing_______
December—
Range . . ___
Closing_______
.January—
Range _______
Closing_______
February—
R a n g e _______
Closing
____
M a rch—
Range _______
Closing___.
Tone—
Spot . _____
O p tio n s _____
— @ .1C — @ —
10.00 — 9.80 —
— @ —
9.75-.8C
9.46-.51
9.51-.52
9.37-.38
9.76-.77 — («> ,7C — @ —
9.71 — 9.65 — 9.89 —
9.44 — — 4t> —
9.45-.4C 9.32-.3?
9.70
—
9.28 — — @ —
9 .32-.34 9.32-.33
9 .3 4 -.3 5
9.34-..17
8.97-.21
9.07-.08
9 .00-.12
9 .09-.10
9 .0 6 -.1 5
9 .1 4 -.1 5
— ffl — — @ —
9 .13-.15 9.00-.01
8.97-.98
9.00-.01
— @ —
9 .0 4 -.0 5
9.19-.4E
9.23-.24
9.09-.23
9 .1 0 -.1 1
9 .30-.40
9.36-.37
9.09-.30
9.12 —
8.98-.1C
8.99-.00
8 .8 6 -. 08
8.96-.97
8.87-.00
8.99-.00
8 .9 8 -.0 6
9 .0 4 -.0 5
9.34-.3?
9.38-.40
9.15-.34
9.16-.17
9.02-.15
9.03-.05
8.94-.13 — @ —
9.00 — 9.03-.04
9 .02-.03
9 .07-.08
— @ — — 0 —
9.39-.41 9.17-.18
9.05-.07
— <K> — — @ - — @ —
9 .02-.04 9.05-.07 9 .09-.11
— @ —
9.42-.44
9.25 —
9.25-.2C
9.14-.23 — @ .17 — @ — •— @ —
9.12 — 9 .06-.09 9 .1 0 -.1 1 9 .1 5 -. 16
Quiet.
vSteady.
Easy.
Quiet.
Easy.
Quiet.
Easy.
Steady.
Easy.
F rm .
E a sy.
Quiet.
W E A T H E R R EP O R TS B Y T E L E G R A P H .— Our tele
graphic advices from the South this evening indicate that as
a rule the weather has been favorable during the week.
In Texas dry weather has been the rule, but elsewhere rain
has fallen at most points, with the precipitation light or
moderate in the m ain. Advices denote that the crop has
been benefited by the moisture and a number of our cor
respondents report it to be doing very well. Picking is
under way in earlier sections.
G alveston , T e x a s . — There has been no rain during the week.
Average thermometer 84, highest 90, lowest 78.
A b ile n e , T e x a s . — We have had no rain during the week
The thermometer has averaged 79, the highest being 96 and
the lowest 62.
B r e n h a m , T e x a s . — There has been no rain the past week.
--------19 0 6 -0 7 —
------- 19 0 7 -0 8 — —
The thermometer has averaged 84, ranging from 73 to 97.
Since
Since
August 14—
C o rp u s C h risti, T e x a s . — Dry all the week.
The thermome
Week.
Sept. 1.
Sept. 1.
Week.
Shipped—
ter has ranged from 74 to 98, averaging 86.
8 18,079
474,763
1,481
Via St. Louis_______ ___________ . - 3,306
229,767
150
217,767
Via C a iro ________________________
C u ero , T e x a s . — There has been no rain during the week.
422
85,212
Via Rock Island........- __________ . .
36,826
5.1
Average thermometer 87, highest*99 and lowest 74.
406
89,589
56,987
Via Louisville . _______________ __
200
756
54,7 29
54,540
141
Via Cincinnati.............. ................... . .
D a lla s, T e x a s . — We have had no rain during the week423
120,200
06,318
Via Virginia points_____ . ___ . .
106
Thc thermometer has averaged 80, the highest being 100
102
212,983
309,862
Via other routes, & c ____________ . .
179
and the lowest 60.
Total gross overland_________ . . 5,920 1,162,184
2,310 1,695,438
F o r t W orth , T e x a s . — There has been no rain the past week.
Deduct shipments—•
1 11,655
169,136
209
Overland to N. Y ., Boston, & c.
717
The thermometer has averaged 81, ranging from 62 to 100.
66,709
93,498
Between Interior towns___
H en rietta , T e x a s . — The weather has been dry all the week.
Inland. & c., from South _ .
78,354
91 ,1 4 0
2,067
..
827
The thermometer has ranged from 63 to 99, averaging 81.
Total to he deducted_______
256,718
2,276
353,774
H u n t s v i lle , T e x a s . — There has been no rain the past week.
Leaving total net overland * ______ . . 4,248
Average thermometer 83, highest 99 and lowest 66.
905,466
34 1,341,664
K er r v ille , T e x a s . — There has been no rain during the week.
* Including movement by rail to Canada.
The thermometer has averaged 79, the highest being 96
The foregoing shows the week’s net overland movement and the lowest 62.
has been 4,248 bales, against 34 bales for the week
L a m p a sa s, T e x a s .— There has been no rain the past week.
last year, and that for the season to date the aggregate The thermometer has averaged 80, ranging from 60 to 100.
net overland exhibits a decrease from a year ago of 436,198
L o n g v ie w , T e x a s . — Dry all the week. The thermometer
bales.
has ranged from 65 to 98, averaging 82.
L u lin g , T e x a s . — There has been rain on one day during the
--------- 1907-C 8----------------------- 1900 -07---------In Sight and Spinners'
Since
Since
week, the rainfall reaching twelve hundredths of an inch..
Takings.
Week.
Sept. 1.
Week.
Sept. 1.
Average thermometer 84, highest 97, lowest 70.
Receipts at ports to Aug. 14........... 24.0.19
8.260.041
8,70.1 9,6 8 9 ,3 5 1
Net overland to A u g. 14 ....................
4,248
905, too
31 1,341,664
N a c o g d o ch es , T e x a s . — There has been a trace of rain on two
Southern consumption toAug. 14. 38,000
2 ,207,000
48,000 2 ,3 7 8 ,0 0 0
days during the week. The thermometer has averaged 80,
Total marketed............................
06,287 11.378,507
56,797 13.409,015
the highest being 95 and the lowest 65.
Interior stocks in excess.......................* 5 , 555
.18,600
*4,531
M 2 ,5 8 1
P a le stin e, T e x a s . — Dry all the week.
The thermometer
Came Into sight during week___ 60,732
has averaged 81, ranging from 68 to 94.
52,206
...............
Total In sight Aug. 14............................ ..
11,417,1 13
. . . . . . 13,390,431
P a r is , T e x a s . — Rain has fallen on one day during the week,
the rainfall being twelve hundredths of an inch. The ther
North, spinners'takings to Aug. 14 7,976
1,905,9.11
15,156
2,652,191
mometer has ranged from 63 to 100, averaging 82.
a Decrease during week, b Less than Sept. 1.
S a n A n to n io , T e x a s . — There has been rain on one day o f
the week, the precipitation reaching ten hundredths of an
Movement into sight in previous years:
inch. Average thermometer 84, highest 98 and lowest 70.
Week—
Hales.]
S in e-S en t. 1—
Hales.
1900— Aug. 17____ . . . . ____76,8921 1 9 05 -06— A ug. 17................11,059,760
T a y lo r , T e x a s . — We have had no rain during the week.
1905— A ug. 18 . .
.
.9 0 ,3 9 7 1 0 0 4 -0 5 — Aug. 1 8 ________ 13,452,708
The thermometer has averaged 80, the highest being 96 and
1901— Aug. 19 .............................30,978 I 190.1-04— Aug. 19_________10,110,309
the lowest 64.
1903— A u g .21 .
........... . . 2 9 ,458 |1 902 -03— Aug. 2 1 _________ 10,703,245
424
THE
C H R O N IC L E
Weatherford, Texas.— It has been dry nil the week. The
thermometer has averaged 81, ranging from 61 to 100.
Ardmore, Oklahoma.— Rain has fallen on one day durng
the week, the rainfall being eight hundredths of an inch.
The thermometer has ranged from 58 to 99, averaging 80.
Holdenville, Oklahoma.— The week’s rainfall has been
thirty-three hundredths of an inch on one day. Average
thermometer 80, highest 99, lowest 58.
Marlow, Oklahoma.— We have had rain on two days
during the week, the precipitation reaching thirty-three
hundredths of an inch. The thermometer has averaged 79,
the highest being 96 and the lowest 59.
Oklahoma, Oklahoma.— 'The week’s rainfaill has been
seventy-eight hundredths of an inch, on three days. The
thermometer has averaged 78, ranging from 60 to 95.
Alexandria, Louisiana.— It has rained on one day of the
week, the precipitation reaching forty-two hundredths of
an inch. The thermometer has ranged from 65 to 98,
.averaging 82.
Amite, Louisiana.— There has been rain on two days of
the week, the rainfall reaching seventy-five hundredths of
an inch. Average thermometer 80, highest 96 and lowest 64.
New Orleans, Louisiana.— W e have had rain on two days
of the week, the rainfall being eleven hundredths of an
inch. The thermometer has averaged 83, the highest
Ibeing 92 and the lowest 74.
Shreveport, Louisiana.— There has been rain on one day
during the week, the precipitation reaching nine hundredths
•of an inch. The thermometer has averaged 83, ranging
from 70 to 96.
Columbus, M ississippi.— We have had rain on one day
during the week, the precipitation reaching one inch and
th'rty-fivo hundredths. The thermometer has ranged from
61 to 95, averaging 78.
Meridian, M ississippi.— There has been rain on two days
during the week, the precipitation reaching ninety-two
hundredths of an inch. The thermometer has averaged
77, the highest being 93 and the lowest 60.
Vicksburg, M ississippi.— It has rained on one day of the
week, the precipitation being eighty-four hundredths of
an inch. The thermometer has averaged 80, ranging from
*67 to 93.
Eldorado, Arkansas.— W e have had rain on two days during
.the week, the precipitation being thirteen hundredths of an
inch. Thermometer has ranged from 64 to 95, averaging 79.
Fort Smith, Arkansas.— Rain has fallen on two days of the
week, the rainfall being seventy-six hundredths of an inch.
Average thermometer 78, highest 96, lowest 62.
Helena, Arkansas.— Cotton is growing well now. No com
plaints. W e have had rain on one day of the past week, the
■rainfall reaching forty-nine hundredths of an inch. The ther
m om eter has averaged 77.2, highest being 92 and lowest 64.
Little Rock, Arkansas.— Rain has fallen on one day of the
week, the rainfall being thirty-nine hundredths of an inch.
The thermometer has averaged 83, ranging from 70 to 95.
Memphis, Tennessee.— Weather good for growth of cotton
and prospects are fine. There has been rain on two days the
past week, the rainfall being eighty-four hundredths of an
inch. Thermometer has ranged from 67.2 to 89.3, averag
ing 78.
Nashville, Tennessee.— Rain has fallen on three days of
the week, the rainfall being sixteen hundredths of an inch.
Average thermometer 75, highest 90, lowest 60.
Mobile, Alabama.—-Weather in the interior warm and
dry. Crop reports arc very favorable. Picking has com
menced in some sections. W e have had rain on two days
the past week, the rainfall* being eighty-two hundredths of
an inch. The thermometer has averaged 81, the highest
being 94 and the lowest 67.
Montgomery, Alabama.— Reports of deterioration on
account of lack of moisture am prevalent in spots, but the
•crop is good on the average. There has been rain on three
days the past week, the rainfall reaching one inch and thirtyseven hundredths. The thermometer has averaged 79,
iranging from 65 to 95.
Selma, Alabama.— There has been rain on one day the
past week, the rainfall being twenty-five hundredths of an
inch. The thermometer has ranged from 61 to 92, aver
aging 79.
Madison, Florida.— Rain has fallen on three days of the
week, the rainfall being one inch and sixty-six hundredths.
Average thermometer 80, highest 99, lowest 60.
Tallahassee, Florida.— We have had rain on two days the
past week, the rainfall being two inches and seven hun
dredths. The thermometer has averaged 80, the highest
.being 91 and the lowest 68.
Atlanta, Georgia.— There has been rain on one day dur
ing the week, the precipitation reaching forty-seven hun
dredths of an inch. The thermometer has averaged 78,
the highest being 92 and the lowest 63.
Augusta, Georgia.— There has been rain on one day the
past week, the rainfall reaching forty-three hundedths of
an inch. The thermometer has averaged 82, ranging from
67 to 95.
Savannah, Georgia.— There has been rain on five days
during the week, the rainfall being fifty-two hundredths of
an inch. The thermometer has ranged from 70 to 94,
.averaging 81.
Washington, Georgia.— We have had rain on one day
^during ,the week, the precipitation being twenty-three
[V O L . L X X X V I1 .
hundredths of an inch. Average thermometer 80, highest
93, lowest 66.
,
Greenwood, South Carolina.— W e have had rain on two
days during the week, to the extent of seventy hundredths
of an inch. The thermometer has averaged 80, ranging
from 66 to 94.
Spartanburg, South Carolina.—-We have had rain on
two days during the week, the rainfall being one inch and
eighty-one hundredths. The thermometer has ranged from
64 to 96, averaging 80.
Charlotte, North Carolina.— It has rained an three days of
the week, the rainfall being fifty-two hundredths of an inch.
The thermometer has averaged 79, the highest being 92
and the lowest 66.
Greensboro, North Carolina.— Rain has fallen on two days
of the week, the rainfall being sixty-two hundredths of an
inch. Average thermometer 78, highest 93, lowest 61.
Raleigh, North Carolina.— We have had rain on two days
during the week, the rainfall being seventeen hundredths
of an inch. The thermometer has ranged from 62 to 92,
averaging 77.
Stateburg, South Carolina.— There has been rain on three
days of the week to the extent of forty-three hundredths of
an inch, but more moisture is needed. Average thermometer
79.5, highest 92, lowest 65.
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:
A ug. 14 1908.
Feet.
8 .!'
14.0
7.7
4.6
10.4
New O rle an s____________Above zero of gauge.
M e m p h is .................. — Above zero of gauge.
N ashville________________Above zero of gauge.
Shreveport______________ Above zero of gauge.
V ic k s b u rg ______________ Above zero of gauge.
A ug. 1C. 1007.
Feet.
10.4
10. l
7.5
2.7
26.8
IN D IA COTTON M O V E M E N T FROM A L L P O R T S.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
1907-08.
August 13.
Receipts at—
B om bay-------------------
Week.
1005-06.
■
Since
Sept. 1. : Week.
Since
Sept. 1.
8,000 2,554,000
16,000 3,046,000
For the Week.
Great
Conti
Britain. nent.
Total all—
1 9 0 7 - 0 8 .- - ............
1906-07___________
1905-06----------------
W eek.
8,000 2,046,000
Exports from—
Bom bay—
1907-08---------------1906 -07---------------1 905 -06---------------C a lc u t t a 140 7-08—
1 906 -07---------------1905 -06---------------Madras—
1907 -08...................
1906 -07---------------1905 -06___________
AH others—
1907-08---------------1906-07.......... ..
1905-06----------------
1906-07.
Since
Sept. 1.
Since September 1.
Total.
Great
Britain.
Conti
nent.
Total.
3,000
12,000
4,000
3,000
12,000
4,000
2 , r02
.3,000
3,000
2,000
3,000
3,000
5,000
y.OOo
7,000
27,000
149,000
117,000
32,000
158,000
124,000
4,000
7,000
1,000
4,000
7,000
1,000
10,000
6,000
8,000
32,000
44,000
50,000
42,000
50,000
53,000
2,000
3,000
1,000
7,000
16,000
6,000
9,000
16,000
7,000
25,000
18,000
23,000
272,000
247,000
183,000
297 ,000
265,000
206,000
2.000
3,000
1,000
16,000
38,000
14,000
18,000
41,000
15,000
68,000
974,000 1,0.12,000
96,000 1 , 020, 060 1,716,000
90,000 1,228,000 1,318,000
____
____
28,000
671,000
643,000
6.3,000 1,180,000 1,243,000
5 7 ,ODD 878,000
935,000
According to the foregoing Bombay appears to show a
decrease compared with last year in the week’s receipts of
8.000 bales. Exports from all India ports record a loss of
23.000 bales during the week and since Sept. 1 show a
decrease of 674,000 bales.
A L E X A N D R IA R E C E IP TS AN D
SH IPM EN TS OF
C O TTO N .— Through arrangements made with Messrs.
Choremi, Benachi & C o., of Liverpool and Alexandria, we
now receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
of the previous two years:
Alexandria, Egypt,
August 12.
1907-08.
1906-07.
1905-06.
Receipts (cantarfc) —
This w e e k -------------------Since Sept. 1----------------
0 ,0 0 0
7,169,671
300
6,861,519
200
5,870,752
This
Since
week. Sept. 1.
Since
This
week. Sept. 1.
2,000 228,945
210,638
5,750 '~ 6 ,309
1,000 76,878
1.750 222,707
207,836
1.750 353,850
603 118,675
203,877
IT ,66 175,677
600 335,007
70,127
8,750 8 12,820
4,100 903,068
2,100 784,688
Exports (bales) —
To
To
To
To
Liverpool-------------------M anchester---------------C on tin e n t____________
A m e ric a .______________
Total e x p o rts_________
N ote.— A cantur Is 91 lbs.
This
week.
Since
Sept. 1.
Egyptian bales weigh about 750 lbs.
This statement shows that the receipts for the week were
9,000 cantars and the foreign shipments 8,750 bales.
JUTE BUTTS, B AG G IN G , &c.— The market for jute
bagging has been devoid of animation during the week.
Prices are unchanged at 7 cents per yard for 2-lb. domestic
bagging and f i l e t s . per yard for re-woven and inferior
foreign. Jute butts continue dull at 2 @ 3 cts. per lb. for
bagging quality.
A ug . lo 1908.]
T H E C H R O N IC L E
W O R L D ‘S SU P P L Y AN D T A K IN G S OF C O TTO N .—
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.
.
E U R O P E A N COTTON CONSUM PTION TO A U G U ST 1.
— B y cable to-day we have Mr. Ellison’s cotton figures
brought down to August 1. We give also revised totals for
last year that comparison m ay be made. The spinners’
takings in actual bales and pounds have been as follows:
October
Vislule supply Aug.
1006-07.
1007-08.
Cotton Takings.
W eek ami Season.
Week.
7 - -------------
2,683,168
1,784,156
52,266 13,306,434
16:000 3,046,000
473.000
20,000
914.000
100
415.000
7,000
2 ,2 1 1 , 8 l i
60,732 11,417,113
8,000 2,046,000
15,000
371.000
1,000
056.000
1,000
256.000
American In sight to Aug. 14 —
Bombay receipts to Aug. 13-----Other India shlp’ ts to Aug. 1 3 . .
Alexandria receipts to Aug. 12 - _
Other upply to Aug. 12 * -----------
2,037,660 17,337,057 2,787,534 20,029,400
Total supply__________________
Deduct—
Visible supply Aug. 14--------------
1,863,206
Total takings to Aug. 1 4 ____ _ _
Of which Am erican............ .......
2,537,208
1,863,206 2,537,208
250,326 17,492,282
145,226 12,786,382
105,100 4,705,900
174.364 15,474,661
128.364 11,6.(6,661
46,000 3,778,000
* Embraces receipts In E u rv w from ''Brazil.'Smyrna. 'Vest Indies, <fcc.
COTTON CROP C IR C U LA R .— Our Annual Cotton Crop
Review will be ready in circular form about Friday, Sept. 5.
Parties desiring the circular in quantities, with their business
card printed thereon, should send in their orders as soon as
possible to ensure early delivery.
F A L L R IV E R M ILL D IV ID E N D S .— In our editorial
columns to-day will be found reference to the dividend
results for the nine months of 1908.
M A N C H ESTER M A R K E T .— Our report received by
cable to-night from Manchester states that the market is
quiet for both yarns and shirtings. The demand for both
yarn and cloth is poor. We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
1908.
32s Cop
Twist.
d. s. d.
a.
July
3
10
17
24
31
Aug.
7
14
1907.
8H lbs. Shirt- Cot'n
lugs, common MW.
to lineal.
Upl's
5
5
r>
4
1
s. d.
1 ©8
OH © 8
0 (318
11 @ 8
11 (48
8%
©
8 o-l 6 @
8}*
@
S ’'**
@>
8 5*
©
94*
9*/K
99*
9 VS
9H
8%
@
8 Ys
©
OH 4 11 © 8
oyi 4 10}* @ 8
8 H lbs. Shirt- Cot'n
logs, common MW.
Upl's
to finest.
32s Cop
Twist.
d.
d.
3
2
19*
1
1
6.27
6.34
0.10
5.98
6.02
11 3-16®
11
©
10 % ©
10 M ©
to H
©
0
0
6.26 10 15-16@15-10 6
5.92 10 M ©
12}* 6
s. d.
d. s. d.
124*
126,
121*
Vi Vi
1i\i
6 11
6 10
6 0
0 9
0 9
9
8
d.
3
3
3
4
4}*
7.31
7.18
7.06
7.16
7.28
@ 10 5
@ 10 4}*
7.47
7.29
@ 10
@ 10
@10
@ 10
10@
D OM ESTIC
E X P O R T S OF COTTON
M A N U FAC
T U R E S .— W e give below a statement showing the exports of
domestic cotton manufactures for June and for the twelve
months ended June 30 1908, and, for purposes of comparison,
like figures for the corresponding periods of the previous
year are also presented:
..uanllllcs of Manu/acturcs of
Cotton (colored and uncolored)
Exported lo—
United Kingdom...................... yards.
Germany ..............................................
Other Europe____________ _________
British North America........................
Central American .States and British
Mexico ............................... ...................
Cuba .......................... ...... .....................
Other West Indies and Bermuda...
Argentina..............................................
(Jhlle................................... .....................
Colombia ..............................................
Venezuela...................... ............ ..........
Other South America..........................
Chinese Empire...................................
British East Indies..............................
Hongkong ________________________
.Jan in.......................................................
British Australasia............................
Philippine Islands...............................
Other Asia and Oceania......................
British Africa..................................... ..
All other Africa.....................................
Other countries____________________
Month ending June 30. 12 mos. ending June 30.
1908.
1907.
1907-08.
1900-07.
240,426
6,000
175,751
539,919
148,380
29,231
122,892
668,578
2,347,939
68,515
1,819,440
5,618,127
2,782,928
151,189
1,397,064
8,530,059
2,946,901
199,092
233,242
2,289,049
668,9191
2,728,601 1,649,833
79,218
120,529
843,256
96,207
466,286 1,191,462
636,993 1,071,950
236,911
425,965
645,724
630,538
8,579,909 3,086,810
141,545
921,060
5,000
2,000
5,290
5,336
027,720 1,538.273
752,153
594,510
251,257
2,793,024
47:259
494,684
20,000
170,243
23,334 109
1,757,427
17,825,742
24,711,539
919,327
3.470,818
8.263.700
9,594,136
4,112,349
0.805.271
49,876,071
4,363,794
002,000
193,445
0,770,423
9,909,417
20,629,908
1,982,838
1,017,877
30,233,141
2,8051585
15,917,045
33,229.770
1,711,974
6,400,755
12,791,789
15,950,554
6,284,580
8,591,370
86.454,028
9,799,990
636,899
729,613
9,794,842
20,551,231
41,760,937
8,794,621
1.032,953
800
Total yards of above........................ 25,584,327 16.3S4.144 205.994,812 326,340,329
Total values of above.................... .. 51,601,950 5 1.172.S67IS14,268,083 $21,239,247
$.0093
$.0651
Value per y ard .................................
$.0626
$.0716
Value of other Manufactures of
Cotton Exported to—
Wearing noparel—
United Kingdom................................
Belgium............. ............ - .....................
Germ my ..............................................
Other Europe........................ ...............
British North America........................
Centri! American States and Brit
ish Honduras ...................................
Mexico ......... ...... ..................... ............
C u b a ......................................................
Other West Indies and Bermuda__
South America.......................... ..........
Chinese Empire...................................
British Australasia...............................
British Africa.......................................
Other countries.....................................
Waste, cotton mill...............................
All other................................................
$99,396
197
11,357
3,734
85,893
$67,780
4,155
5,625
8,261
78,534
$1,010,063
8,310
92,183
61,113
933,962
$989,454
18,538
61 858
75,344
973,205
43.363
21,229
23,781
10,475
3,780
5,202
310
22,944
20.2S8
30,840
60,303
39,488
42,074
23,750
14,024
912
401
38,452
12,912
26,314
555,697
409,431
322,374
162,851
110,056
224,135
26,541
318,541
183,106
282,516
445,802
324,395
385,454
197,099
109,834
219,487
47,393
359,234
110,466
476,663
$233,029 $2,631,595 $2,366,454
18,415
328,638
400,600
277,139
3,570.84 7
3,170,001
Total manufactures o f ................... $2,408,815 $2,125,038 $25,177,75S $32,305,412
to August
1.
Great Britain.
Continent.
Total.
Takings by spinners-------- ..bales
3 ,2 2 5 ,0 Je
8,41 4 ,0 0 0
5,189,001
Average weight of b a le s .. ___ lbs
50t
490
486
Takings In pounds_______
1.631,8 >0,U0i 2,490,720,006 4,12 2 ,5 7 0 .0 0 0
For 1906-07.
Takings by spinners____
3,511 000
9 ,170,000
5,639,000
Average weight of bales. — lbs
500
471
486.5
Takings In pounds_______
1,765,500,000 2,695,442,006 4 ,4 60,942,000
According to the above, the average weight of the deliv
eries in Great Britain is 506 pounds per bale this season,
against 500 pounds during the same time last season. The
Continental deliveries average 480 pounds, against 478
pounds last year, and for the whole of Europe the deliveries
average 490 pounds per bale, against 486.5 pounds last
season. Our dispatch also gives the full movement for
this year and last year in bales of 500 pounds.
October 1 to August 1.
Bales of 500 lbs. each.
000s omitted.
1906-07
1907-08. .
Great Conti
Great Conti
Britain nent. Total. Britain nent. Total.
Spinners’ stock Oct. 1 ______ _
Takings to Aug. 1 . ......................
367
3,263
1,08V
4,081
1,456
8,244
253
3,531
556
5,391
809
8,922
Supply---------------------------------Consumption. 43 weeks_______
3,630
3,250
6,070
4,534
9,700
7,784
3,784
3,268
5,047
4,515
9,731
7,783
Spinners’ stock Aug. 1 ------------
380
1,530
1 ,9 U
516
1,432
1,94-8
78
7?
78
78
78
78
78
78
65
65
106
IOC10C
106
106
106
106
106
106
100
184
18,
184
184
184
181
184
181
171
165
74
74
75
75
76
76
77
77
78
78
105
105
105
105
105
105
105
105
105
105
179
179
180
180
181
181
182
182
183
183
Weekly Consumption.
ouOs omi.ted.
In October...................... ................
In Novem ber__________________
In December _________________
In J a n u a r y .....................................
In F e b ru a ry __________________
I n March . . __________________
In A p r il________________________
In M a y _________________________
In J u n e ________________________
In Ju ly_____ ___________________
The foregoing shows that the weekly consumption is now
165,000 bales of 500 pounds each, against 183,000 bales of
like weights at the corresponding time last year. The total
spinners’ stocks in Breat Britain and on the Continent have
decreased 77,000 bales during the month and are now 32,000
bales less than at the same date last season.
E G Y P T IA N COTTON C R O P .— Messrs. R . & O. Lindemann of Alexandria, under date of Friday, July 24, have
advised their Boston Agents, Messrs. L. H . A . Schwartz &
Co., as follows:
Woutncr continues favorable and the crop makes satisfactory progress.
Growth seems abundant enough and bolls are well developed. There are
general complaints of worms, which have appeared to some extent all over.
Speculators have used this to prop up prices, but we do not believe tin-c
the crop has been seriously damaged.
— The Lord & Nagle Company, Boston, publishers of the
“ Textile World Record,” have furnished us a copy of the
Official American Textile Directory of the United States,
Canada and Mexico for 1908-09,recently issued. The work
comprises 650 pages and a number of maps showing the
location of cities and towns where the textile industry is
carried on, railroad connections and population.
Full
information is given in regard to the mills reported— names
of officers, machinery cap acity class of goods made, whether
they dye or not, kind of power used, who the selling agents
are, &c. A new feature of the work is a classified list of
manufacturers arranged according to the kind of goods made ;
also a list of textile associations in the United States and
Canada. These, with the regular features referred to abover
combine to make the volume a valuable book of reference
for the textile-mill trade. It is published in two editions:
the Office Edition, bound in stiff cloth covers, costs $ 3 .0 0 ;
Travelers’ Edition, of smaller size, printed on thinner paper,
and bound in flexible covers, costs $2.00.
REC EIPTS FROM T H E P L A N T A T IO N S .— The follow
ing table indicates the actual movement each week from the
plantations. The figures do not include overland receipts
nor Southern consumption; they are simply a statement of
the weekly movement from the plantations of that part of the
Week
ending.
164,804
28,447
230,705
1
For 1907-03.
Season.
Week.
Season.
1,051,028
425
July
’•
’’
"
’’
Aug.
’’
3
10
17
24
31
7
14
Receipts at the Ports.
1906.
Stock at Interior Towns. Receipts from Planta'ns.
1907.
63,544
38.723
25,012
23,047
26,759
21,876
24,039
14.273 25,008 170,453 152,593 186.42S 40,725 ...........
13.787 27,440 165.776 137.969 176,752 29.046
10,553 25,601 151.726 115,217 158,701 10.962
8,030 30,538 141.017 106,482 144,069 12,338 ...........
8,931 34,017 132,085 94,161 134,959 17,827
1,534
7,469 24,699 124,741 88,226 123,750 14,535
8,763 31.276 119,189 83.099 117,872 18,484
4,232
1908.
1907.
1906.
1908.
190S.
1907.
1906.
13,929
17.764
7.550
15.906
24.907
13,490
25.398
The above statement shows: 1.— That the total receipts
from the plantations since Sept. 1 1907 are 8,304,647 bales; in
1906-07 were 9,676,770 bales;in 1905-06 were 7,767,163 bales2 .— That although the receipts at the outports the past
week were 24,039 bales, the actual movement from planta
tions was 18,484 bales, the balance being taken from stocks
at interior towns. Last year receipts from the plantations
for the week were 4.232 bales and for 1906 they were
25,398 bales.
426
THE
C H R O N IC L E
SH IP P IN G N E W S .— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 29,708 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
X
uuito.
N E W Y O R K — To Liverpool— Au*?. 12— Cedric, 1 35_________________
1 35
To Manchester— -Aug. 8 — R ossetti, 116---------------------------------------116
To London— Aug. 7— Minnetonka, 2 5 --------------------------------------------25
350
To Bremen— -Aug. 12— B u elow ,350-----------------------------------------------T o H am burg— Aug. 7 — Patricia, 5 _________________________________
5
G A L V E S T O N — To Liverpool— Aug. 8 — William Cllir, 4 ,2 1 5 _______4,215
To Bremen— Aug. 10— Hannover, 9 ,1 7 1 __________________________ 9,171
To Antwerp— Aug. 12— Thurland Castle, 2 ,3 6 8 _________________ 2,368
N E W O R L E A N S — To Liverpool— -Aug. 8 — Orion, 1 ,4 4 5 ____________ 1,445
To Bremen— Aug. 8 — SpanishPrince, 4 ,6 5 8 ________________________ 4,658
To Ham burg— Aug. 12— Hoerdc, 2 ,9 0 6 __________________________ 2,906
To Genoa— Aug. 7— Dlnnamale, 1 ,553____________________________ 1,553
261
To Antwerp— Aug. 14— Chaucer, 2 61............... .....................................
M O B I L E — -To Liverpool— Aug. 7— Chancellor, 5 0 ____________________
50
S A V A N N A H — To Hamburg— A u g. 8 —-Kirremoor, 9 5 7 ____ A u g. 10
— Celtic Princess, 5 0 ____ Aug. 11— Llncalrn, 5 36______________ 1,543
1
To R otterdam — Aug. 8 — Zeeburg, 1______________________________
N O R F O L K — To Hamburg— Aug. 6 — Rokeby, 6 0 0 ____ A u g. 13—
Bcthanla, 108______________________________________________________
70S
B O S T O N — To Liverpool— Aug. 7— Cestrlan, 8 7 ____ A u g. 10— Ivernla, 111_______
198
T o t a l . . .................... ............................ ......... ........... ......... ..................... .. .29 ,7 0 8
The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
Great French Ger- — Oth.Europe— M ex-,
Britain, pbrts. many. North. South. &c. Javan.
New Y o rk _____
276
355
________ ____
____
G a lv e sto n _____ 4,215
9,171
2,368 ______ ____
____
New Orleans___ 1,445
7,564
261 1,553
M o b ile — ..........
50
........................................
....
------- ------S a v a n n a h _____
____
____
1,543
1
____
____
____
N o r fo lk ------------- ------------708
------------- ------- ------Boston ------------198
____
____
- ............................ ..
........
T otal_________ 6,184
____
19,341
2,630
1,553
................. ..
Total.
631
15,754
10,823
50
1,544
708
198
29,708
The exports to Japan since Sept. 1 have been 150,122bales
from Pacific ports and 37,857 bales from New York.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.:
M on. ,
12
12
13
18
25
20
26
27
28
25
25
28
40
Sat.
12
12
18
18
25
20
20
27
28
25
25
28
40
Liverpool Sept. 18 . Manchester A u ? ___
Havre A u g ________
Bremen . . . . _______
H a m b u r g ___________
A ntw erp____________
Ghent, via Antwerp
R e v a l _______________
Gothenburg, askedBarcelona, direct Aug.
Genoa Sept. O - t . _ .
T r ie s t e .........................
Japan - . ___________
Tues.
12
12
18
12
25
20
26
27
28
25
26
28
40
Wed.
12
12
18
18
25
20
26
27
28
25
25
28
40
Thurs.
12
12
18
18
25
20
26
27
28
25
25
28
40
F r i.
12
12
18
18
25
20
26
27
28
25
25
28
40
L IV E R P O O L .— By cable from Liverpool we have the fol
lowing statement of the week’s sales, stocks, &c., at that port:
July 24.
Sales of the w eek_______bales . 22,000
July 31.
18,000
A ug. 7.
23,000
A ug. 14.
19,000
Of which exporters took —
Sales, A m e rlo m _______________ . 18,000
4,000
Actual export- ---------- ------------ 40,000
Forwarded . .......... ........................
Total stock— E stim ated .- . . .4 9 0 .0 0 0
Of which American—-E s t .- -3 7 8 ,0 0 0
Total Import of the week------- . 23,000
Of which Am erican________ . 15,000
Am ount afloat------------------------- _ 45,000
Of which Am erican------------- . 25,000
1,000
15,000
7,000
29,000
471.000
363,000
16,000
12,000
54,000
26,000
1,000
17,000
3,000
55,000
439,000
330,000
25,000
9,000
40,000
21,000
14,000
4 ,000
3 5 ,000
421,000
310,000
20,000
11,000
42,000
26,0 0 0
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:_____________
[V O L . L X X X V II
improved crop accounts from the Northwest having caused
buyers to adhere to this policy. The Pillsbury receivership
has had no effect on the trade. At some Western points
a somewhat larger business has been done. Rye flour has
been quiet but firmer. Corn meal has been dull and steady.
W heat has declined, as it has turned out that the reports
of damage to the crop at the Northwest were exaggerated,
while the weather has also been good for harvesting. This
has led to very extensive liquidation of long accounts, both
at home and abroad, with the inevitable effect of lower
prices. Moreover, the Russian crop accounts have been
more favorable and export business most of the time has
been light, only reviving on Thursday. One long line of
some five million bushels has been sold out. This fact in a
sense cuts both ways, showing, on the one hand, a certain
discouragement with the bull side, and on the other some
relief to the technical position, as it has been quite manifest
that the buying for a rise was for a time overdone. At the
same time, the very favorable harvesting reports from the
Northwest incline not a few to increase their estimates of
the crop in that section of the belt. The Canadian wheat
crop, too, is estimated at 130,263,000 bushels, against
96,852,000 last year. Reports that frost had done harm in
the Northwestern part of Canada have been denied from
Winnipeg. From now on, too, it is contended that the m ar
ket will be under constant pressure from hedging sales,
against actual wheat and the dribbling out of scattered
holdings of the September option. From present appear
ances the supply will be larger on this continent than had
been expected. Russian reports point to a satisfactory
yield of spring wheat. But, on the other hand, the Argen
tine shipments for the week have fallen to a nearly nominal
figure and the receipts at the Southwest are for the time
being comparatively small. W hat is more, the export
demand on Thursday suddenly revived and the reported
transactions amounted, to something like 800,000 bushels.
The drastic liquidation of late has undoubtedly, to a certain
extent, relieved the speculative situation, and at the same
time it looks a little as though the pendulum were inclined
to swing to the opposite extreme— that is, carry things
rather too far on the short side, speculation notoriously
going to extremes one way or the other. Reflective bulls are
inclined to pin their faith more upon a prospective export
demand than upon sensational reports of damage which
spring up from time to time. To-day prices opened easy
on disappointing cables, but soon advanced on rains at the
Northwest, firm cash markets, small receipts, bull support
and covering of shorts.
D A I L Y C LO SIN G P R IC E S OF W H E A T F U T U R E S IN N E W Y O R K .
Sat. M on . Tues. W ed. Thurs. F ri.
N o. 2 red winter------------------------------ 102*$ 100 >4 101 *$ 1002$ 10024 101*$
September delivery In e le v a t o r --. -103*$ 10124 102 24 1 0 0 1 $ 1 0 1 '$ I0 2 v 3
December delivery In elevator______ 105*$ 104
104*$ 10214 103*4 10424
M ay delivery In elevator____________ 108*4 100*$ 107*$ 105*4 106*$ 107
D A I L Y C LO SIN G P R IC E S OF W H E A T F U T U R E S IN C H IC AG O .
Sat. M on . Tues. Wed. Thurs. Fri.
94 24
92 1$ 93 24 94
September delivery In elevator_____ 04 2$ 93 *$
December delivery In elevator_____ 96*4 9 5 ,4
96*$
94*$ 95*4 95 *$
M ay delivery In elevator------------------- 1012$ 100
101*4
99,t$ 09*$ 10024
Quiet at
8 @ 1 0 pts.
declin.e
Quiet at
1@ 2 pts.
decline.
Steady at
1@ 2 pts.
advance.
Quiet at
8*$ @ 13
pts. dec.
Easy at
62$ @ 9
pts. dec.
Steady at
Quiet at
5 @ 10 pts. 2$ pt. dec.
advance. to*$pt..adv.
Indian corn futures have, on the whole, been firmer
despite the decline in wheat. Strengthening factors have
been small receipts and supplies, buying by cash interests
and commission houses and covering of shorts. A t times
there has been setbacks, due to rains over m ost sections
of the belt, and liquidation, but there has been an absence
of selling for short account, owing to the light stocks. The
movement is disappointing to many. Liverpool has shown
a strong tone. The cash market has been firm. Glucose
interests at the W est are having difficulty in securing sup
plies for their needs and have engaged Argentine corn for
import. To-day prices were firmer early with wheat,
but they weakened later, especially at the W est, on a decline
in cash prices at the W est and favorable weather and crop
reports.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
D A I L Y C LO SIN G P R IC E S O F N O . 2 -M IX E D C O R N IN N E W Y O R K .
Sat. M on . Tues. Wed. Thurs. F ri.
Cash c o m ......................................
88
87*$
88 2$ 88 2$
89 2$ 89*$
September delivery In elevator..........84*4
85*$ 86*$
86*4 86 24
86*$
December delivery In elevator..........75 2$
75*4 75*4
73 2$ 74*4
75
Spot.
Saturday.
Market.
12:15
P. M.
1
1 Dull and
J easier.
Monday.
Tuesday.
Wed'day.
Thursday.
Friday.
Easier.
Dull.
Easier.
Dull and
easier.
Dull and
Irregular.
Mld.Upl’ds
6.22
6.14
gales ____
Spec.&exp.
3,000
200
4,000
200
Quiet at
Futures.
Market
1 2 @ 3 pts.
opened
J advance.
Market,
4
P. M.
Steady at
4*$ pts.
decline.
1 Barely st’y Quiet at
52$ @ 8
at 2@4*$
pts. dec.
J pts. dec.
6.00
5.97
5.92
5.92
3,000
200
4,000
200
5,000
200
3,000
200
The prices are niven in pence amt lOOtto.
Sat.
A u g. 8
to
Aug. 14.
12M
o.m.
122$
p.m .
d.
August . A ug.-Sept
Sept.-O ct.
O c t .-N o v .
N ov.-D ec.
Dcc.-.JanJ an .-F e b .
Feb -Mch.
M ch.-Apr.
A p r.-M ay
May-June
June-July
3
5
5
5
5
5
5
5
5
5
5
d.
85 2$
47 2$
27
20
13
10
08 2$
09*$
10*$
11
11*$
M on.
Tues.
Steady at
4 points
decline.
Thus: 5 8 5 means 5 8 5-lQOj.
W ed .
Thurs.
Fri.
4
122$
4
4
122$
12*$
4
4
122$
122$
p.m. p.m. p.m. p.m . p.m . p.m. p.m. p.m. p.m. p.m.
d.
SO *$
12
20
132$
06 2$
04
02 2$
03 2$
04*$
05
05*$
d.
20
11
19
13
062$
04
022$
03 2$
94 2$
05
052$
d.
68 2$
31
10
04
98
95
94
95
96
96 2$
97 2$
d.
67
28*$
09
03
97 2$
95
93 2$
95
96
962$
37
d
67
28
09
03
97
34 2$
93*$
95
96
362$
97
d.
58
21
012$
96
90
88
86 2$
87 2$
89
90
902$
d.
64 2$
25 2$
05
38 2$
32*$
90 2$
80 2$
90 2$
92
93
93 2$
d.
68
29
08 2$
012$
95 2$
93 2$
92
)3
94*$
95
*6
d.
66
27
07 2$
00
94*$
32
302$
312$
93
33 2$
34 2$
d.
37 2$
88*
93
92
33
94 2$
95
96
B R E A D STU FFS.
Friday, Aug. 14 1908.
Prices for wheat flour have been steady during the week,
as a rule, but of late the tone of the market has been some
what easier, owing princpally to the decline in wheat quo
tations. In the local market trade has continued on a
hand-to-mouth basis, the^downward drift of wheat a
D A I L Y C LO SIN G P R IC E S OF C O R N F U T U R E S IN C H IC AG O .
Sat. M on . Tues. Wed. Thurs. F ri.
September delivery In elevator..........76 2$ 77*$
78 *4 77 2$
77*$ 7 6 2$
December delivery In elevator_____ 66 2$ 66 24
65*4 65
64 *4 64 2$
May delivery In elevator____________ 65
64 *$
64*4 63 2$
63*4 63*4
Oats for future delivery in the Western market have
weakened at times under increasing receipts, generally
favorable weather, somewhat better crop reports and
liquidation, partly by Northwestern interests. The cash
market has weakened and cash interests have sold futures
rather freely. A t times rallies have occurred, however.
Commission houses in many cases have orders to buy on
the setbacks, and shorts, owing to the light stocks, are not
disposed to be aggressive. Canadian crop reports have
been very favorable. To-day prices declined on liquid
ation, selling by cash interests and a dull and easier cash
market.
D A I L Y C LO SIN G P R IC E S O F O A T S IN N E W Y O R K .
Sat. M on . Tues. Wed. Thurs. Fri.
60
60
57
57
57
56
No. 2 m ixed...............................
W hite clipped. 32 to 34 lbs_______64-60 62-65 60-63 «0-83 60-63 57 *$-64 *$
D A I L Y C LO SIN G P R IC E S OF O A T S IN C H IC AG O .
Sat.
M on. Tues. Wed. Thurs. Fri.
September delivery In elevator_____ 48
48 24
48
47*$
4 / *$ 47
December delivery In elevator.......... 48*$ 48*$
48*$ 47 J$
47 >4 17 *$
May delivery In elevator_____ ______ 502$ 50 2$
50*$ 49 2$
49*4 49*$
AUG. 15 1908,]
THE CHRONICLE
The following are closing quotations:
FLOUR.
L ow g r a d e s _____________ S3 2 0 ® $3 00 K ansas stra ig h ts ------------ 54 6 0 ® $5 00
540
S econ d c le a rs ............................... ® -------- B len ded cle a rs __________ 5 2 5 ®
050
C l e a r s ----------------------------- 4 25 @ 4 50 B len ded p a te n ts ------------- 5 2 5 ®
S tr a ig h ts..... ........................ 5 5 0 ® 5 75 R y e f l o u r ____________
4 2 5 @
48 5
P a te n t, sp r in g --------------- 5 7 5 ® G 05 B u ck w h e a t llo u r ----------- N om in a l.
N om in a l.
P a te n t, w in te r ___________ 4 GO® 4 80 G ra ham flo u r___________
K an sas clea rs .................. 3 7 5 ® 4 25 C orn m e a l . - ............... —
3 9 0 ® 4 65
G R A IN .
W h e a t, per b u s h .—
C orn (n e w ), p e r b u s h .—
c.
N . D u lu th , N o . 1 ______
125 %
N o . 2 m i x e d __________ f .o .b . 89 M
N . D u lu th , N o . 2 ...........
119%
N o . 2 y e l l o w ....................... N o m in a l.
N o . 2 w h ite ____________ N o m in a l.
R e d w in te r. N o . 2 _____ f .o .b .1 0 1 %
H ard
“
“
...........
1 0 5 /a R y e , per b u s h .—
O ats, p e r b u s h .—
N o . 2 W e s te rn _________ f .o .b . 84
N atural w h it e _________ 57
@ 60
S ta te an d J e r s e y .......... - N o m in a l.
N o . 2 m ix e d ........ ............56
@ —
B a rle y — M a ltin g .............. - N o m in a l.
N atural w h ite c lip p ed 57 ^ @ 6 0 * ^
F e e d in g _ ..............................N om in a l.
G O V E R N M E N T W E E K L Y W E A T H E R R E P O R T .—
Mr. P. C. D ay, Acting Chief of the Climatological Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various- States
for the week ending Aug. 10, summarizing them as follows:
T h e w eek e n d in g A u g u st 10 1903 w as g en era lly fa v o ra b le as to te m p e ra
ture a n d sun sh in e. S om e h igh d a y tem p eratu res preva iled o v e r n early all
n orth ern a n d eastern d istricts d u rin g the first o f the w eek , fo llo w e d b y
c o o le r w ea th er, w hich co n tin u e d t o the en d of t h ‘ p eriod . O v er the P a cific
c o a s t S tates th e w eek co n tin u e d w a rm , w ith s o m e ex ce ssiv e ly h o t d a y s,
e sp ecia lly In the In terior v a llcv s of C a liforn ia an d the eastern p o rtio n s or
O regon a n d W a sh in g to n an d su rrou n d in g districts. C o m p a ra tiv e ly c o o l
w eath er co n tin u e d o v e r th e w estern p ortion s o f T e x a s , O k la h om a a n d
K ansas; b u t elsew here m od era te su m m er te m o e ra tu rcs p rev a iled .
Sun
shine w as g en era lly a b u n d a n t o v e r the corn b elt a n d th rou g h ou t the
N orth w est a n d o v e r the en tire P a cific s lop e.
T h ere w as som e excess ot
c lo u d v w eath er o v e r p o rtio n s o f A la b a m a . M ississippi, A rk a n sa s, T en n essee
a n d N orth C a rolin a, b u t elsew h ere o v e r the co tto n -g r o w in g States su n sh in e
w as gen erally su fficie n t.
C on siderab le clou din ess preva iled o v e r N ew
E n gla n d a n d o v e r p ortion s o f A rizon a an d N ew M ex ico.
G o o d rains
o ccu rre d o v e r the m ore sou th ern p o rtio n s o f th e corn g ro w in g Status
a p d gen era lly o v e r all p o rtio n s o f the c o tto n b e lt, a n d rains w ere gen eral
o v e r m ost o f the d istricts fro m the O h io V a lle y eastw a rd o v e r the m id d le
a n d N ew E n gla n d S tates.
D rou gh t co n d itio n s o f con sid era b le se v e rity
co n tin u e o v e r p ortion s o f u p p er M ichigan , th e n orth ern p o rtio n s o f In d ia n a
a n d Illinois and p ortion s o f W isco n sin , an d rain Is n eed ed o v e r M in n esota ,
th e D a k o ta s, and th en ce so u th e rly o v e r N eb ra sk a , p o rtio n s o f K an sa s,
O k la h om a an d the P a n h an d le o f T e x a s.
T h e w eek was p ra ctica lly
rainless o v e r the n orthern R o c k y M ou n t d n a n d P a cific coa st S ta tes,
e x c e p t In p ortion s o f sou th ern C a liforn ia . H e a v y rains o ccu rre d In p o rtio n s
o f A rizon a , an d show ers w ere frccpien t o v e r m ost o f th e su rrou n d in g
States o f N ew M e x ico , C o lo ra d o and U ta h .
S om e d a m a g e b y ex ce ss o f
m oistu re o ccu rre d In p o rtio n s o f eastern N orth C a rolin a and b y flood s
In A rizon a ; an d severe e lectrica l storm s w ith con sid era b le d a m a g e b y
lig h tn in g occu rred In N ew E n g la n d . P e n n sy lv a n ia , an d southern M ich igan .
For other fables usually given here see page 393
T H E
D R Y
G OODS
T R A D E.
T ota l
Y o r k to A n a .
___________
1,043
S in c e
J a n . 1.
W eek .
S in ce
J a n . 1.
496
098
16,255
6.161
2 0 ,4 3 5
5 ,0 8 0
14,723
1,101
10,020
24,753
12,311
8
40
____
311
802
458
60
408
030
312
1,178
864
14,399
5,465
23,333
3 ,7 0 0
14,279
1,521
9,207
29,308
18,620
112,633
3 ,390
121,874
Business in heavy brown drills and sheetings has been
qyict, but sales of these, and of medium and lighter weight
goods have boon made at prices considerably below those
that would have been accepted two or three weeks ago. In
Total
---------1008--------- -----------------1007---------&—
W e e k ,.
G rea t B rita in -------------------- --------------------- ------O th er E u r o p e --------------------------------------------1
C h in a -. _____________________
_________________
In d ia
1
A r a b i a . . ; ______________________________
A frica
___________
_______
75
W e s t I n d i e s _____ ______________________
634
M e x i c o ____________________________________
53
C entral A m e r i c a __________________________ 698
S ou th A m e r i c a ._____ ________________
?12
O th er c o u n tr ie s ___________________
169
N ew
spite of the drastic curtailment of production, there are still
some accumulations, although they are being slowly worked
off. Export business with miscellaneous countries has been
moderate, but outside of these trading lias been very quiet;
fair inquiries have been received from the Red Sea for
3.50-yard sheetings, but the prices offered have been a full
Me- below what manufacturers are willing to accept. Low
count bleached goods are dull, but the better known lines
are sold up for a month or more ahead. Coarse, colored
cottons, in some instances, arc accumulating, but occasional
lines of ticks and denims are not to be had for immediate
delivery. Linings are quotably unchanged and moving
slowly. Apart from the auction sale, practically nothing
has been done in napped goods.
Staple prints continue
among the most active of any lines in the market, and fair
sales have been made to miscellaneous purchasers;, continued
good orders have been received for side bands. Staple ging
hams show little activity, and fine dross ginghams are un
changed from a week ago. Wide print cloths are firmer,
but narrow goods are easy with few buyers.
W O O L E N G OO DS.—-New lines of m en’s wear light-weight
fancy worsteds have been opened during the week,, and have
enjoyed a fairly good sale, buyers being influenced to some
extent by the announcement of the leading interest that these
fabrics would be withdrawn for further consideration after a
week’s display. General orders for other classes of goods
have been satisfactory, and up to date the volume of business
placed has undoubtedly exceeded expectations. Buying has
been irregular, however, and while some mills announce
already that their entire product has been Sold up, others
arc far from being in this enviable position. It is expected,
however, that in the end there will be sufficient business
offering to take care of the production of practically all mills,
and revisions and cancellations later in the season m ay go
far to more equably distribute orders.
Resist-dye fabrics
continue in fair demand, and have undoubtedly hurt all
worsted goods, but in spite of this the season to date is pre
eminently a worsted one. Several lines of spring 1909 woolen
and worsted dress goods have been opened during the week,
and the prices named have closely followed those realized at
the recent auction sale, and show substantial reductions from
those prevailing last season, amounting in many instances to
12M to 1 5 % . It is too early to indicate the character of the
buying, but, following the lead of m en’s wear goods, it is
expected that the light-weight season will show a material
improvement over the heavy-weight.
F O R E IG N D R Y G OO DS.— Fair sales of imported woolen
and worsted dress goods have been made during the week,
but business is not by any means heavy. Silks have shown a
tendency to sag. Ribbons are active. Linens are being
moderately purchased for fall. Burlaps are quiet.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Ang. 8 1908 and since
Jan. 1 1908, and for the corresponding periods of last year,
are as follows:
v
2
C
>7l m n < S
o0 3
ft
P
a
h o 2.P
p<
i i p. 2
p - 2
«p ii :p :• 2
1« ] 1c
p
O 3
«
Oi
>1 •ri
i i i •o
*1 ii G
p |
ft ?
O
[anufa
Wool
Cotto
Silk .
Flax.
New York, Friday Night, Aug. 14 1908.
The most important feature of the cotton goods market
during the past week was the offering at public auction on
Wednesday and following days of about 25,000 packages of
cotton blankets, canton flannels and domets, the product
of the Nashua Manufacturing C o., the Jackson Co. of New
Hampshire and the Indian Head Mills, of Alabama. On
the first day the prices realized were somewhat higher than
expected, but subsequently there was some falling oif
until the level reached occasionally represented a decline of
22 to 2 3 % off list prices. In spite of this, however, the sale
was generally considered a success in that the goods were
widely distributed among buyers from all sections of the
country. There was hardly so much snap to the sale as there
has been at other auctions recently, but this was mainly
due to the desire of the sellers to accept comparatively higher
prices for small quantities of goods rather than sell large
amounts to big buyers at lower levels. The number of
buyers in town was very largo, but interest centred almost
entirely in the auction room, and the general market was
extremely quiet. Jobbing business in napped fabrics was
not only hurt by buyers covering their requirements at the
public sale, but second hands have found it necessary to
re-adjust their prices to those realized at the sale. Apart
from this, general autumn merchandizing by jobbers was
slow, and the primary market showed no improvement over
recent weeks. Where accumulations have occurred, some
sales have boon made at considerable sacrifices, but in view
of the fact that curtailment in the South to-day is greater
than it has been at any time since the panic, it is hoped that
this situation will soon adjust itself. Buyers’ views_ have
again boon disturbed during the week by the decline in the
price of cotton and the uncertain speculative position of the
•staple, but those sellers who have disposed of goods at what
now appears to be a loss arc looking forward to cheaper
cotton to minimize this, or possibly turn it into a slight
profit. Men’s wear woolen and worsted lightweight goods
and dress goods have been comparatively quiet.
DOMESTIC COTTON G OO DS.— The exports of cotton
goods from this port for the week ending Aug. 8 were 1,943
packages, valued at $147,891, their destination being to the
points specified in the tabic below:
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THE CHRONICLE
[VOL. LXXXVII.
Big Falls, Koochiching County, M inn.— Rond Offering.—
Proposals will be received until 8 p. m . Aug. 18 by C. L.
Hillstehd, Village Clerk, for $6,000 0 % refunding bonds.
Interest annual. Maturity fifteen years.
News Items.
Bisbee School District No. 2 (P . 0 . Bisbee), Cochise
New York Gity .— Referee Appointed in City Stock Suit.—
Justice Pound in the Supreme Court on August 10 referred County, A r iz .— Bond Sale.— On Aug. 10 the $92,000 5 %
to Gen. 13. I1. lracy, the application made by David Mayer bonds offered but not sold on July 10 (V . 87, p. 237) were
as a taxpayer for an injunction restraining the city from awarded, it is stated, to Weil, Roth & Co. of Cincinnati.
making appropriations for any public improvements.
Black Mountain Township, Buncombe County, N. C .—
Gen. lracy, as stated in V. 87, p . 237, is now acting as Bond Sale.—•Asheville papers state that $25,000 0 % 30-vcar
referee, having been appointed by the Court to that position macadam road bonds .recently voted have been purchased
as an outcome ot the injunction suit brought by Jefferson by C. A . W ebb & Co. Securities are dated Sept. 1 1908.
M. Levy, to restrain the letting of contracts for the Fourth Interest semi-annual.
Avenue subway.
Boone County (P. O. Lebanon), Ind . — Bond Sale.— J. F.
Bonds Offered by Bankers.— In an advertisement on a Wild & Co. of Indianapolis have bought $2,120 and $5,100'
preceding page J. & W . Seligman & Co. of this city are
Marion, ( linton and Centre townships gravel roads
offering to investors at 101 and interest $5,000,000 of the bonds at par. The former issue was sold on July 20 and is
$7,199,460 4 % 50-year corporate stock recently purchased in denomination of $100, while the latter issue was sold on
by them. In a letter to the bankers Comptroller Metz June 29 and is in denomination of $255. Date March 2 1908.
states that with the exception of $12,500,000 corporate Interest May and November. Maturity one bond of each
stock to be sold not earlier than Nov. 1, he does not intend issue each six months from May 15 1909 to Nov. 15 1918
to issue any more corporate stock during the remainder inclusive.
.
of 1908. As stated last week the total amount of these
Brainerd, M inn.— Bond Offering.— Proposals will be re
4 % bonds sold since June 1907 is $15,284,400.
ceived until 8 p. m . August 31 by H . J. Spencer, City Clerk,
Portland, Ore.— Supreme Court Overrules Petition for for the $120,000 5 % coupon water-works and electricRe-hearing in Charter Amendment Suit.— The State Supreme light bonds mentioned in this Department last week.
Au
Court on August 4 overruled the petition for a re-hearing thority vote of 811 to 66 at election held July 14; also Chapter
in the case of Francis I. McKenna vs. the city of Portland, 334, Laws of 1905 and amendments thereto. Interest
in which an opinion was handed down on July 14 (V . 87, semi-annual. Date Sept. 1 1908. Bids to be based as
p. 300) upholding the validity of the charter amendment follows : (1) on bonds due in not less than 10 years nor more
voted on June 3 1907 providing for the issuance of $3,000,000 than 20 years, at option of city ,(2) on bonds maturing Sept.
4 % 25-year water bonds.
1 1928, (3) on bonds maturing 1-3 on Sept. 1 in each of the
years 1918, 1923 and 1928, (4) on bonds due $12,000 yearly
on Sept. I from 1919 to 192 8 inclusive. Certified check
Bond Calls and Redemptions.
for 5 % of bid, payable to the “ City of Brainerd” , is re
Montana.—•Bond Call.— The following bonds are called
quired.
for redemption by the State Board of Education within
Brenda, Man .— Debenture Sale.— The Dominion Securities
thirty days from August 10.
Corporation of Toronto has purchased $40,000 4 % 20-year
$ 9 ,0 0 0 b o n d s fo r t h e b u lld lm ? o f <i S t a t e S c h o o l o f M in e s .
D a te J u ly 1 1900
3 ,0 0 0
b o n d s fo r a d e a f a n d d u m b a s y lu m ,
D a t e J u ly 1 1 8 9 7 .
telephone debentures.
5 0 .0 0 0 S t a t e U n iv e r s i t y b o n d s .
D a te J u ly 1 1897.
Brookhaven Union Free School District No. 27, Suffolk
1 3 .0 0 0 S t a t e N o r m a l S c h o o l b o n d s .
D a te M a y 1 1900.
1 0 .0 0 0 A g r i c u l t u r a l C o lle g e b o n d , .
D a t e .July 1 18J.5.
County, N. Y .— Bond Sale.— 1
This district on Aug. 4 awarded
the $14,000 4 ) 4 % 8-35-year (serial) registered building bonds
in V. 87,_j>. 301, to Fenwick & Rogerson of New
Bond Proposals and Negotiations this week described
York City at 101.173 and accrued interest—-a basis of about
have beon as fo llo w s:
4 .4 1 5 % . Other bidders were:
A l a m a n c e C o u n t y ( P . O . G r a h a m ) , N o . O a r .— Bonds (Jeo. M . H ah n , New \cork — 1 0 1 .03 I U nion S i v . IBank, F *n tch o?u e ....... p ar
C
leveland C h am ber o f Comm. 100.0 11C itizen s’ N it . B k ., P r t t d h o ? u e -_
Voted.— An issue of bonds for good roads was voted on
Aug. 6.
Brownsville, Tex.—■Bond Sale.— 'The State Permanent
A s h t a b u l a C o u n t y ( P . 0 . J e f f e r s o n ) , O h i o . — Bond Offer School Fund was recently awarded $60,000 water-works and
ing.—‘Proposals will be received until 1 p . m . Aug. 31 by $10,000 electric-light 5 % 20-40-year (optional) bonds at
P.
C. Remick, County Auditor, for $20,000 4 ) 4 % coupon par and accrued interest.
bonds to improve Centre Road in Conneaut Township. A u
Burnaby, B. 0 .— Debenture Sale.— The $13,000 6 % 25thority Section 4070— 14 to 20 inclusive— Revised Statutes. ycar coupon school debentures offered on Aug. 1 were
Denomination $500. Date Sept. 1 1908. Interest semi awarded to W m . C. Brent of Toronto. Denomination $500.
annually at the County Treasury. Maturity $2,000 yearly Date Aug. 1 1908.
Interest semi-annually at the Bank of
on Sept. 1 from 1909 to 1918 inclusive. Bonds are tax-ex Montreal in New Westminster.
em pt. Certified cheek for $500, payable to the County
Caldwell, Burleson County, T ex .— Bonds Registered.— The
Commissioners, is required.
$8,500 5 % 10-30-year (optional) water refunding bonds,
A t t i c a , F o u n t a i n C o u n t y , I n d . — Bond Election.— A n elec awarded on May l to Burleson County (V . 86, p. 1357), were
tion will be held Aug. 31 to vote on the question of issuing registered on Aug. 5 by the State Comptroller.
$25,000 building bonds. Local papers state that E . M.
Carroll County (P. O. Dslphi), In d .—•Bond Sale.— J. F.
Campbell & Co. of Indianapolis will purchase the issue Wild & Co. of Indianapolis recently purchased the following
provided it receives a favorable vote.
4 }/2 % highway-improvement bonds at par:
A y l e s b u r y , S a s k . — Debenture Sale.— According to reports, $ 1 1 ,3 0 0 R o c k C r e e k a n d W a s h i n g t o n T o w n s h i p b o n d s d a t e d M a y 15 1 0 0 3
3 ,7 0 0
B u r lin g t o n T o w n s h i p b o n d s d a t e d M a y J 1 0 0 3 .
$2,000 school debentures have been purchased by Nay &
Interest semi-annual. Maturity part of each issue yearly
James of Regina.
from one to ten years inclusive.
B e lle v ille T o w n s h ip S c h o o l D is t r ic t ( P . 0 . B e lle v ille ) ,
Carrollton, Ohio.— Bond Sale.— On Aug. 11 the $2,150
E s s e x C o u n t y , N . J . — Bond Offering.— Proposals will be
received until 8:30 p. m . August 19 by James J. Turner, (city’s portion) and the $13,630 assessment 5 % coupon
District Clerk, for $45,000 4 ) 4 % coupon school bonds. West Main or Market Street improvement bonds described in
Denomination $1,000.
Date Oct. 1 1908. Interest semi V. 87, p. 304, were awarded to Field, Longstreth & Co. of
annually at the First National Bank of Belleville. N . J. Cincinnati at 104.435 and accrued interest. Following is a
Maturity $2,000 yearly on Oct. 1 from 1923 to 1943 in list of the bidders:
L n n ~ strcth & C o.,C ln $ lfi, 180 00 IB a rto, S c o t t & Co C o1um $10,175 00
clusive and $3,000 on Oct. 1 1944. Bid must be made on Field,
D a vles-B crtra m C o .. Cln_ 10,23(5 00 lOtts <Si H o u gh , C le v e la n d - 10,100 00
a blank form furnished by the district and accompanied Seasotvrood <& M aver, Cln_ 10,224 54 11 !a y d e n ,M llfe r& C o .,C lcv c . 13,900 20
by a certified check for 2 % of bonds bid for, made payable Cum m ings T rust C o _______ 10,185 58 |W . J. H ayes & Son s C leve1 land (fo r $13,030 bon d s) 13,824 00
to the District Clerk.
Delivery of bonds on Oct. 1 1908.
Maturity one bond of each issue yearly on Aug. 20 from
Purchaser to pay accrued interest, The bonds will be 1909 to 1918 inclusive.
certified as to genuineness by the United States Mortgage
Cass County (P. O. Logansport), In d.— Rond Role.— The
& Trust Co. of New York City. The proceedings relative
to the issue have been approved by the Hon. Robert II. following road-improvement bonds were recently awarded
to J. F . Wild & Co. of Indianapolis at par:
McCarter, Attorney-General for the State of New Jersey.
B e r g e n C o u n t y ( P . O. H a c k e n s a c k ) , N . J . — Bond Offering.
— We arc advised that the genuineness of the $90,000 5 %
coupon, Paterson Plank Road permanent improvement
bonds proposals for which will be received until 2 p. m .
August 18, has been certified to by the Columbia Trust Co.
of New York City. For other details of bonds and terms
of offering see last week’s “ Chronicle” .
The official notice of this bond offering will be found among
the advertisements elseivhere in this Department.
B e t h l e h e m , P a . — Bond Election Proposed.— There is talk
of this town holding an election to determine whether or
not bonds to the amount of about $200,000 shall be issued
for water-works purposes.
5 1 2 ,4 7 3 00 4
5 C lin t o n T o w n s h i p b o n d s d a t e d J o n . 1 1908
1 1 ,3 0 0 00 1
C lin t o n T o w n s h i p b o n d s d a t e d M a y 15 1 9 0 8 .
1 1 ,7 4 3 5 0 4 3 a % B e t h le h e m T o w n s h i p b o n d s d ated J a n . I 1 9 0 8 .
Interest May and November. Maturity part of each issue
yearly from one to ten years inclusive.
Charlottesville, Albemarle County, V a .— Bonds Voted.—
An election hied Aug. 6 resulted in a vote of 245 “ for” to
7 “ against” a proposition to issue $35,000 4 ) 4 % 10-40-year
(optional) supplernentary-new-rcservoir bonds dated S ep t.l
1908. Date of offering not yet determined.
Cincinnati School District (P. O. Cincinnati), Ohio. — Bond
Offering.—-Proposals will be received until 4 p. m . Sept. 8
by the Board of Education, care of William Grautman,
Clerk, for $200,000 4 % coupon bonds for purchasing and
improving public school property. Authority Sections 3992
and 3994, Revised Statutes. "Denomination $500. Date
AUG. 15 11)08,1
THE CHRONICLE
•day of sale. Interest semi-annually at the American E x
change National Bank in New York City. Maturity forty
years. Bid to be made on a printed form furnished by the
Board of Education and be accompanied by a certified check
for 5 % of bonds bid for, made payable to the said Board.
Purchaser to pay accrued interest. Delivery within 15 days
from the date of sale.
Clark County (P. O. Springfield), Ohio.— Bond Sale.—•
Seasongood & Mayer of Cincinnati paid 103.16 on Aug. 7
for 85,000 5 % 414-year (average) bridge bonds of this
county. This is on a basis of about 4 .2 2 2 % .
Denomina
tion $500. Date Aug. 7 1908. Interest semi-annual.
Clark County (W ash .) School District N o. 1 9 .— Bond
Sale.— On Aug. 8 $2,800 6 % 5-15-year (optional) building
bonds of this district were awarded to W in. D. Perkins &
Co. of Seattle at par. Denomination $500, except one bond
for $300. Date Aug. 8 1908. Interest annual. There
were no other bidders.
Columbiana School District (P. O. Columbiana), Ohio.—•
Bond Sale.— On Aug. 0 the $25,000 5 % coupon building
bonds, a description of which was given in V. 87, p. 301,
were awarded to Weil, Roth & Co. of Cincinnati at 107.284
and accrued interest— a basis of about 4 .1 8 2 % . Following
are the bids:
4 2 9
and accompanied by a certified check for 2 % of bonds bid
for, drawn on some local bank and made payable to the
Sinking Fund Trustees. Delivery of bonds Sept. 1 1908.
Purchaser to pay accrued interest. Official circular states
that there has never been any default in the payment of
principal or interest. These securities are not new issues,
but bonds held by the sinking fund as an investment.
Colvill, Cook County, M inn.— Bond Offering.— Proposals
will be received until 9 a. m . Sept. 1 by P. E . Aim (P. O.
Grand Marais) for $10,000 6 % road and bridge bonds.
Authority election held July 3 1908. Denomination $1,000.
Interest semi-annual. Maturity ten years. Bonded debt,
this issue. Floating debt $1,500.
Cook, Johnson County, N eb .— Bonds Voted.— According
to reports a proposition to issue 810,000 school-building
bonds carried by a vote of 100 to 9 at an election held August
11.
Coraopolis School District (P . O. Coraopolis), Allegheny
County, Pa .— Bond Sale.— Darr, Luke & Moore of Pitts
burgh inform us that they recently purchased an issue of
4 ^ 4 % school-building bonds. Denomination $1,000.
Date
July 1 1908. Interest semi-annual. Maturity part yearly
from 1914 to 1938 inclusive.
Crofton, Knox County, N eb .— Bonds Voted.— A proposi
W ell, H otli & C o ., C lil____ $20,821 00 S e a s o n g o o d & M ayer, Cln $26,527 ._>0 tion to issue $10,000 5 % 5-20-ycar (optional) water-works
C itizen s’ N at. 9 k ., W ojsti;i'2G ,677 5,0 O tis to H o u ;n , C le v e la n d . 2 6 ,3 8 7 oO
bonds carried by a vote of 76 to 7 at an election held Aug. 4.
IS. I '. K unkliauser, C o lu m . 2 6 ,629 00 B irto , S c o tt & C o .. C olum 25,0 7 5 00
H ayden, M iller & Co., C lev. 2 0 ,505 0 0 VV. ,J. H a y e s <* S on s, C love 25,841 00
Cuyahoga County (P. O. Cleveland), Ohio.— Bond Offer
S ecu rity S. II. to 'l’r. C j .,T q 120,501 00
ings.---Proposals will be received until 11 a. m . Aug. 19 by
ik-- Maturity $500 each six months from March 1 1910 to
the Board of County Commissioners, William F . Black,
Sept. 1 1918 inclusive and $1,000 each six months from
Clerk, for $14,500 4 } 4 % coupon Chagrin Iliver bridge bonds.
March 1 1919 to Sept. 1 1926 inclusive.
Authority Sections 871, 872 and 2825 Revised Statutes.
C o l u m b u s , O h i o . — Bonds Authorized.— Ordinances pro
Denomination $500. Date Sept. 1 1908. Interest semi
viding for the issuance of the following coupon bonds were annual. Maturity $500 on Sept. 1 1909 and $1,000 yearly
recently passed by the City Council:
on Sept. 1 from 1910 to 1923 inclusive. An unconditional
4 j.OOU4 % % bonds, O r the purpose ul laying water pipes. Maturity certified check for 10% of bonds bid for, payable to the
Bvpv 1 1938.
Delivery ten days from
49,090 4% "Street im provem ent and Intersection (N o. 10) Fund” (C ity’s County Treasurer, is required.
npruoy) ponds. Maturity Sept. 1 luco.
time of award. Purchaser to pay accrued interest.
*,0 0 0 ,4 % Yale Avenue Improvement assessment bunds. Maturity
In addition to the above, proposals will alt-o be received
Sept. 1 1920.
until 11 a. m . Aug. 22 by the Board of County Commis
20.000 4% Uubdu Avenue Improvement assessment bonds. Maturity
Sept, i 1920.
sioners, William F. Black, Clerk, for $253,000 4 }/•>% coupon
4.000 4 % % Heck Street Improvement assessment bonds. Maturity
Rocky River bridge bonds. Authority Sections 871. 872
Sept. I 1920.
3.000 4% Hawthorne Avenue Improvement assessment bonds. Ma and 2825 Revised Statutes.
Denomination $1,000. Date
turity Sept. 1 1920, subje-ct to call alter Sept. 1 1909.
Sept. 1 1908. Interest semi-annual. Maturity on Sept. 1
1,(100, 4 % sev. e i-construction uss .ss. a at bonds. Maturity Sept. 1 1910.
subject to cull alter :> pt. i 1902.
as follows: $12,000 yearly from 1909 to 1915 inclusive and
3.000 4% McKinley Avenue Improvement assessment bonds. Maturity
$13,000 yearly from 1916 to 1928 inclusive. Bid must be
Sept. 1 1914, subject to call alter Sept. 1 1909.
7.000 4% Monroe Avenue Improvement assessment boud-s- Maturity
accompanied by a bond signed by not less than two dis
Sept. 1 1920, subject to call after Sept. 1 190.i.
interested persons residents of and owning real estate in
6.000 4 % Crawford Street im provem uit assessment bonds. Maturity
Cuyahoga County or by an unconditional certified check
Sept. 1 1920, subjet t to cad .‘ftir Sept. 1 1909.
7.000 4% Frnmbis Avenue Improvement assessment bonds. Maturity
payable to the County Treasurer for 1 % of bonds bid for.
Sept. 1 1920, subject to call after,Sept. 1 19,09.
10.000 4% Atchesou Street Improvement assessment bonds. -Maturity Accrued interest to be paid by purchaser.
Sept. 1 lo2 0 , subject:to call after Sept, i 1909.
Cuyahoga Falls, Ohio.— Bond Offering.— Proposals will
1.000 4% Knv.hsU. Vabey improvem ent assess rent bonds. Maturity
Sept. 1 1920, subject to call after Sept. 1 1201.
be received until 12 m . Aug. 26 by the Sinking Fund Trustees,
7.000 4% Fifth Street Improvement assessment bonds. Maturity Sept. 1 C. D. Crumb, Clerk, for $9,000 5 % electric-light-works1920, subject to call alter Sept. I 1009..
4.000 4 % Walnut Street Improvement assessment bonds. Maturity improvement bonds.
Denomination $500. Date June 1
Sept. 1 1920, subject to .call after-Sept. 1 1909.
1908.
Interest semi-annually at the Cuyahoga Falls Savings
5.. 000 4 % % Cherry Street Improvement assessment bonds. Maturity
Bank in Cuyahoga Falls. Maturity $500 yearly on June 1
Sent. 1 li;29, subject to call alter Sent. 1 1909,.
8-.900 4 % Felton Avenue Improvement assessment bonds- Maturity
from 1909 to 1926 inclusive. Certified check for 10% o f
Sept. 1 1920, subject to c ill afttr Sept. 1 190.9.
bid, payable to the Clerk, is required. Accrued interest'
9.000 4% Gates Street Improvement assessment bonds. Maturity
Sept. 1 1920. subject to call ,"ftt r Sept i 1909.
to be paid by purchaser.
4.000 4% Ninth Street improvem ent assessment bonds. Maturity Sent.
1 1020. subject to call after Sept. 1 1909.
Dandy Creek Drainage District (P. O. Tomah), W is .—•
2.000 4,% Jingle): Street Improvement assessment bonds. Maturity
Bonds Not Sold.— Information was received on Aug. 10 that
Sept. 1 1920, subject to call after Sept. 1 1902.
2.000 4 % Grape A lk y Improvement assessment bonds. Maturity Sept.
no award had yet been made of 820,480 14 6 % bonds, pro
1 1920, subject to call after Sept. 1 1909.
1.00. 0 4 % % coupon Brydpn lloael Improvement assessment bonds. Ma posals for which were asked until July 24.
turity Sept, i 1921.
D a n v i l l e , Q u e . — Debenture Offering.— Proposals will be
2.0 0 0 4 % % co u p o n bonels fo r repairin g th e c lt v w o rk h o u se .
M aturity
received until 12 m . Aug. 20 by Dr. E. R. Darche. Mayor,
Sept. 1 1013', subject to call after Sept. 1 1909,.
8.000 4 % % coupon Franklin Avenue Improvement assessment bonds.
for $15,000 debentures. Interest (rate to be named in bid)
Maturity Sept. 1 1021, subject to call a fte r Sept. 1 1909.
Maturity $5,000 in 1933 and 810,
6.000 4 % % counon Oak Street Improvement assessment bonds. Matur payable semi:-annually.
ity Sept. 1 1,921, subject to call after Sept. 1 1909.
000 in 1938.
D a y s l a n d . S c h o o l D i s t r i c t , A l b e r t a . — Debenture Sale.— An
The above bonds are in denomination of $1,000 each and
will be dated not later than Sept. 1 1908.
Interest March issue of $6,000 6 % 1-10-year debentures has been sold, it is
stated, to W in. C. Brent of Toronto.
1 and Sept. 1 at the City Treasurer's office.
Bond Offering.—-Proposals will be received until 2 p. m.
D a y t o n , O h i o . — Bond Sale.— On Aug. 13 the $23,000 4 %
Aug. 18 by Martin A . Gemunder, Secretary Sinking Fund 20-year coupon street-improvement bonds described in V. 87 .
Trustees, for the following 4 % bonds.
p. 238, were awarded, to Breed & Harrison.of Cincinnati for
4 1 1 7 ,0 0 0 e le ctr lc-llg h t-w o rk s -e x te n g lo n b o n d s d a te d D e c. 1 11)06. Ma- $23,283, the price thus being 101.23.
PH.
tu rlty M arch 1 11)36.
D e e r : R iv e r S c h o o l D is tr ic t N o . 6 (P . O . D e e r R iv e r ),
5 0 .0 0 0 p u b lic -im p r o v e m e n t N o. 14-(c it y 's p o rtio n ) b o n d s d a te d M arch 3
1008.
M atu rity M arch 1 19.10.
I t a s c a C o u n t y , M in n .- — Bonds to Be Re-Voted.~~Owing’to the
30.0 0 0 W h olesale D istrict e n gin e-h ou se b o n d s d a te d A p ril 15 1008.
M a
discovery of an error, the proposition to issue the $35,000 5 %
tu r ity O ct. 1 1938.
coupon building bonds described in V. 87, p. 180, which
7 5 .0 0 0 sew er b on d s d a ted Jun e 10 1907.
M atu rity A c t . 1 1937.
8 ,0 0 0 S ixteen th , A v e n u e b o n d s d a te d M ay 1 1905.
M aturity, S e p t. 1 were to have been, sold, on July 23, will have to be re-voted
1,915.
2 0 .0 0 0 T o w n S treet-b o n d s d a te d M ay 1 1005.
M atu rity S e p t. 1 1015.
2 4 ,00.0 B road S treet b o n d s,d a te d S ep t. 28 1906.
M a tu rity S e p t. 1 1917.
2 4 .0 0 0 W a te r S treet b o n d s d a te d D e c. 1 1906.
M atu rity S e p t. 1 19,17.
18.000 Dana, A v e n u e b o n d s d ated June 10 1907.
M atu rity S e p t. 1 1018.
3 0 .0 0 0 F ou rth S tree t b o n d s dated-Jun e. 1 1907.
M atu rity S e p t. 1 1918.
16.. 000. Sk.ldn)prq S treet b o n d s d a te d A p ril 10 1908.
M atu rity M arch 1
2 5.000, S y c a m o r e S tre e t b o n d s d a te d A p ril 10 1008.
M atu rity M arch 1
1919
11,000 S tu d er A v e n u e b o n d s d a te d M ay 20 1908. M a tu rity M arch
1
1019.
18.000 F n lrw ood A v e n u e b o n d s d a te d S e p t. 30 1907-. M atu rity S e p t. 1
19J0.
1
1 5 .000 O ak lan d A v e n u e b o n d s d a te d S e p t. 16 1907.
M a tu r ity S e p t. 1
1910.
1 1 .000 W h ite th o rn A v e n u e b o n d s d a te d O c t . 10 1907. M a tu rity S e p t. 1
1910.
y
Denomination $1,000. Interest March 1 and Sept. 1 and
payable op the first, four issues at tile- agency, of the City
of Columbus in New York City, while on, the remaining
issues it is payable at the City Treasurer’s office. Bonds
are tax-exempt. Bid must be made on each issue separately
before they are offered for sale.
will be held on Aug. 10.
An election for this purpose
D e n to n ,
D e n to n
C o u n t y , T ex.*— Bond Election.— The
City Council, has, ordered an election to be held Sept. 1 to
vote on the question of issuing bonds for a.sewerage system.
D o u g l a s C o u n t y ( P . O . A l e x a n d r i a ) , M i n n . — Bond Offering.
— Further details are at hand relative to the offering on
Sept. 1 of the 844,000 4 ^ 4 % bonds to take up warrants
floated for constructing drainage ditches. Proposals for
these bonds, will be received until 10 a. m . on that day by
E . P. Wright, County Auditor. Authority Section 18,
Chapter 230, General Laws, o f 1905, and Acts amendatory
thereof. Denomination $500. Date day of delivery. In
terest Feb. 1 and Aug. 1 "a t any agreed bank in the United
States;” Maturity Aug. 1 19L8.
Certified check for $25.0,
THE CHRONICLE
4 3 0
payable to the County Treasurer, is required. Official circu
lar states there is no litigation pending or threatened affecting
the validity of these bonds. Total debt, including this issue,
$75,400. Assessed valuation for 1908, $5,249,150. Actual
value (estimated), $13,452,000.
[VOL. LXXXVII.
of Trustees, William H . Curry, Clerk, for $25,000 registered
street-paving bonds.
Denomination $1,000. Date Sept. 1
1908.
Interest (rate to be named in bid) semi-annually at
the National Park Bank in New York City. Maturity
$1,000 yearly on Sept. 1 from 1913 to 1937 inclusive. Bonds
are exempt from taxation. Certified check for 1 0 % of
bid, payable to the Village Treasurer, Is required.
G a d s d e n , E t o w a h C o u n t y , A l a .— Bond Offering.— Further
details are at hand relative to the offering of the $100,000
5 % municipal-water-plant bonds mentioned in V. 87, p. 366.
1 loposals for these securities will be received until 12 m .
Sept. 1 by J. D. Dunlap, Mayor. Denomination $500 “ or
as m ay be agreed upon.”
Date “ day of sale or as m ay be
agreed upon.
Interest semi-annual. Maturity thirty
years. Official circular states there has never been any
default in the payment of principal or interest.
G l a c e B a y , N . S . — •Debenture Sale.— F . B . McCurdy & Co
of Halifax are reported as being the purchasers of $106 000
town bonds.
I he official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
East Carroll Parish (P. O. Lake Providence), L a .— •Bond
Offering.—'Proposals will be received until 10 a. m . Sept. 2
by G. S. W yly, Secretary of the Police Jury, for $22,000
5 % coupon funding bonds dated N ov. 1 1908. Interest
annually on March 1. Maturity on March 1 as follows: 5
bonds yearly from 1910 to 1912 inclusive, G bonds yearly
from 1913 to 1915 inclusive, 7 bonds yearly from 1 9 1G to
1918 inclusive, 8 bonds yearly from 1919 to 1921 inclusive,
9 bonds in each of the years 1922 and 1923, 10 bonds in 1924
and 4 bonds in 1925. Certified check for 2 % of bonds bid
for, payable to the Parish Treasurer, is required.
East Greenwich, Kent County, R . I . — Bonds Defeated.—•
G l e n n C o u n t y ( P . O . W i l l o w ) , C a l . — Bonds Defeated.—
At an election held August 12 only 7 voters were in favor Hie voters of this county on August 4 defeated a nronosition to issue $124,000 road bonds.
of issuing $50,000 funding bonds, while 49 were against it.
East Washington (P. O. W ashington), Washington
G oth en b u rg , D a w son
C o u n t y , N e b . — Bonds Voted.—
County, Pa.— Bonds Not Sold— Bond Offering.— No bids Propositions to issue $28,000 water and $7,000 sewer 5 %
were received on Aug. 7 for the $11,000 4 % coupon street- 5-20-year (optional) bonds were favorably voted upon at
improvement bonds described in V . 87, p. 302. These bonds an election held Aug. 10. The vote on the first-mentioned
are being offered as 4)^s and proposals will be received, this issue was 226 to 45, while on the latter issue it was 206 to 56.
time, until 7:30 p. m . Sept. 4.
We are further advised that these bonds will be offered for
Edgemont, Fall River County, So. D ak .— Bond Offering. sale as soon as the preparations for the same are completed.
— Proposals will be received until Sept. 1 by Tom Colgan,
G r a h a m , T e x . — Bond Sale.—-This city recently sold $2,000
City Treasurer, for $20,000 5 % water-works bonds.
^ ’ 5 % 5-20-ycar (optional) water-works bonds to ’ the State
Edmonton Public School District No. 7 (P. O. Edmonton), Permanent School Fund at par and accrued interest.
Alberta.— Bond Offering.—-Proposals will be received until
G r e e n v i l l e , O h i o . — Bond Offering.— Proposals will be re
12 m . Sept. 10 by W . D . Brady, Secretary-Treasurer, for ceived until 12 m . Sept. 7 by C. R. Jobes, City Auditor, for
$80,000 5 % coupon school-building bonds. Denomination $2,500 4 % Central Avenue improvement bonds. Denomi
$1,000. Date July 16 1908. Interest annually at the nation $500. Date Sept. 1 1908. Interest annual. Ma
Imperial Bank of Canada in Edmonton. Maturity part turity $500 yearly on Sept. 1 from 1910 to 1914 inclusive.
yearly on July 1G from 1909 to 1938 inclusive. Debentures Certified check for 1 0 % of bonds bid for, payable to the
are tax-exempt. Assessed valuation $20/110,080.
City Treasurer, is required. Accrued interest to be paid by
Elba, A la .— Bond Offering.— This town is offering for sale purchaser. Bonds to bo delivered ten days from time of
$15,000 5 % electric-light bonds. Denomination $100. award.
Maturity thirty years. W . J. Bowden is Mayor and J. L
G u e r n s e y , G u e r n s e y C o u n t y , O h i o . — Bonds Defeated.—
Young is City Clerk.
Ihe proposition to issue the $10,000 4 ^ % sewer bonds
Elyton (P. O. Birmingham), A la .— ■Bond Scde.— -On Aug. 7 mentioned in V. 87, p. 115, was lost at the election July 21.
$20,000 5 % 30-year sewer bonds were awarded to the F?rst The vote was 453 “ for” to 451 “ against,” two-thirds m a
National Bank of Cleveland at par. Denomination $500. jority being required.
Date Sept. 1 1908. Interest semi-annual.
H a m p d e n C o u n t y ( P . O . S p r i n g f i e l d ) , M a s s . — Bond Sale.
On Aug. 12 Moffat & White of New York City paid
Englewood, Arapahoe County, Col.— •Bonds Not to Be Of
fered at Present.—-The town clerk writes us that no action 101.087 and accrued interest for the $110,000 4 % 1-11-year
will be taken looking towards the offering of water bonds (serial) coupon (with privilege of registration) Hall of
which this town proposes to issue until “ a temporary in Records bonds described in V. 87, p. 303. This is on a basis
of about 3 .7 9 5 % . A list of the proposals received follows:
junction now pending is disposed o f.”
MOirat & W h ite , N . Y _______ 101.087 R . L . D a y & C o ., B o s t o n ___ 1 0 0 .3 4
Excelsior Springs, M o . — Bond Sale.— -The Mercantile H. M. F a rn sw orth & C o ., C le v l0 1 .0 7 M
errill, O ld h am & C o . . H o s t.1 0 0 .2 7 0
Trust Co. of St. Louis purchased on July 30 an issue of $12, W m , A . R e a d & C o ., B o s to n . 1 0 0 .8 10 B lake Bros. & C o .. B o s t o n .. 100 .2 1
N . W . H arris & C o ., B o s t o n . 1 00.067 Lee H lggln son & C o . , B o a t.1 100. 0 9 8
000 5 % 5-20-year (optional) bridge bonds at 100.175. De B lo d g e tt, M erritt & C o ., B o s tl0 0 .5 8 4 W . C. S im o n s ______________ J
nomination $100 or $1,000. Date Aug. 1 1908. Interest H . VV. P o o r & C o ., B o s t o n ..1 0 0 .4 3 5 P ark inson & B u rr, B o sto n - . 1 0 0 .0 0 5
S pringfield 5 C en t S avin gs
semi-annual.
B a n k, S p r in g fie ld _______ alO O .9 5
Bond Offering.— -Proposals will be received until to-day
a fo r $50 ,0 0 0 b o n d s.
(Aug. 15) by Walter A . Craven, City Clerk, for $5,000 5 %
H a m i l t o n , O h i o . — Bond Sale.— -A list of the bids received
coupon bridge and rest-room bonds.
Authority Section on Aug. 8 for the $25,000 4 % 20-year coupon electric-light
6351 Revised Statutes of 1899. Denominations $100 and bonds described in V . 87, p. 182, follows:
$1,000. Maturity 10 to 20 years. Total debt, including F ifth -T h ird N a t. B k ., C ln .$25 ,148 00) W e ste rn -G e rm a n I lk ., C ln .$25,101 0 0
this issue, $49,290. Assessed valuation for 1907 $1,035,379. S e a so n go o d & M ayer, C ln . 25,132 50 [ R ial, K le y b o lte & C o .In c.,C ln 2 5 ,1 0 1 0 0
F ield ,L on gstreth & C o.,C ln . 25,127 0 0 1P ro v id .S .B . & T r.C o .,C ln _ _ 25,093 7 5
Fitzgerald, G a .— Bond Offering.— Proposals will be re Breed & H arrison, C l n . . . 25,1 2 0 001 W e ll, R o th & C o ., C ln ------- 25,065 00
. K le y b o lte & C o ., C l n . . 25,11 1 25 H ayden ,M iller & Co., Clev. 2 5 ,045 00
ceived until 3 p. m . Sept. 8 by the W ater, Light and Bond A
D avies B ertram Co., C ln .. 2 5 ,108 0 0 1
Commission, L. O. Tisdel, Chairman, for the $75,000 sewer,
H a m i l t o n C o u n t y ( P . O . N o b l e s v i l l e ) , I n d . — Bond Sale.—•
the $30,000 school-building and the $25,000 water and lightThe following 4 j ^ % highway bonds have been sold at par
extension 5 % gold coupon bonds voted on June 24. See
to J. F. Wild & Co. of Indianapolis:
V. 87, p. 302. Authority Section 75, Page G41, Acts of
D elaw are T o w n sh ip b o n d s d a te d M ay 15 1908.
1907. Denomination $1,000. Date Sept. 15 1908. In $0,060
7,420 W a sh in gto n T o w n sh ip b o n d s d a te d M ay 10 1908.
terest semi-annually at the City Treasurer’s office. Ma
Interest semi-annual. Maturity part of each issue yearly
turity thirty years. Certified check for $500, payable to from one to ten years inclusive.
the Water, Light and Bond Commission, is required.
H a r r i m a n , R o a n e C o u n t y , T e n n . — Bonds Not Yet Sold.—
Forestport, Oneida County, N. Y .— Bond Safe.— The Up to July 30 the $10,000 5 % 20-year gold coupon refund
$3,000 water-works bonds described in V . 87, p. 302, were ing water and light bonds offered without success on June 9
sold on Aug. 10 to C. M. Bingham of Forestport for $3,020 (V . 86, p. 1604) had not yet been sold.
(100.666) for 5s. A bid of $3,005 for 5s was also received
H a r r i s o n C o u n t y ( P . O . C a d i z ) , O h i o . — Bond Offering.—
from Isaac W . Sherrill of Poughkeepsie. Maturity $1,000
Proposals will be received until 12 m . to-day (Aug. 15) by
on July 1 in each of the years 1909, 1910 and 1911.
Fostoria, Ohio.— Bond Safe.— The $22,000 4J ^% coupon John S. Lacey, County Auditor, for $15,000 4 % bonds for t h e
Columbus Avenue macadamizing bonds described in V. 87, purpose of repairing and rebuilding bridges. Authority
p. 302, were sold on Aug. 10 to the Fifth-Third National Section 871, Revised Statutes. Denomination $1,000.
Bank of Cincinnati at 101.431 and accrued interest. The Date Sept. 1 1908. Interest semi-annually at the County
Treasurer's office. Maturity $1,000 each six months from
bids received were as follows:
Sept. 1 1909 to Sept. 1 1916 inclusive. Bonds are e x e m p t
F ifth -T h ir d N a t .B k ., C lu .$ 2 2 ,3 1 5 00 W . R . T o d d & C o ., C l n . .$ 2 2 ,2 0 0 00
from all taxes. Certified check for $100 is required.
S ec. S a v g s. B k . & T r . G o.,
R u d o lp h K le y b o lte C o .,
T o le d o ______________ _
D a v ies, B ertram C o ., Cln.
F ield , L o n g s tr tth & C o .,
Cincinnati _____________
O tis & H o u g h , C le v e la n d .
H a y d e n , Miller & C o ., C lev
W e ll, R o th & C o .. C ln c ln --
22,257 00
I n c ., C in c in n a t i..............
22,2 10 00 P r o v id e n t S av gs. B k . &
T r u s t C o ., C in c in n a t i..
22,220 00 A lb e r t K le y b o lte & C o .,
22,222 22
C l h c l n n a t l ............. ...........
22,210 00 F irst N at. B k ., C le ve la n d .
22,217 0 0 1W . J. H a yes & S on s, C lev.
22,187 00
22,1 M 00
22,050 00
22,013 00
22,000 00
Maturity $1,500 yearly on March 1 from 1909 to 1914
inclusive; $1,000 yearly on Sept. 1 from 1909 to 1914 in
clusive, and $1,000 each six months from March 1 1915 to
March 1 1918 inclusive.
F o r t P l a i n , M o n t g o m e r y C o u n t y , N . Y . — Bond Offering.—
Proposals will be received until l p . m . Aug. 15 by the Board
H a r t f o r d , C o n n . — N o r t h w e s t S c h o o l D i s t r i c t . — Bond Of
fering.— Proposals will be received until 4 p. m . Aug. 27 by
the District Committee, Robert L. Russell, Chairman, care
of the Security Company of Hartford, District Treasurer,
for $170,000 4 % gold funding bonds. These securities are
part of an issue of $200,000 authorized by an Act of the Gen
eral Assembly passed March 26 1907. Denomination $1,000 .
Date Sept. 1 1908. Interest semi-annually at the office of
the Security Trust Co., Treasurer of the District, in Hart-
AUG. 15 iyu».|
rHE CHRONICLE
4 3 1
ford. Maturity Sopt. 1 .1938. Certified check for 2 % of [ bonds at not exceeding 6 % interest, Authority Compiled
bonds bid for is required. The legality of this issue has been Laws of 1897, section 2792 et seq., as amended by Act 125
of the Public Acts of 1905. Maturity within five years.
approved of by Cross, Hyde & Shipman of Hartford.
These securities were offered without success as 5s on July 1 7 .
The official notice of this bond offering will be found among See V. 87, p. 367.
the advertisements elsewhere in this Department.
I s h p e m i n g , M i c h . — Bonds to Be Taken Locally.— The City
• H a r tfo r d ,
W a s h in g to n
C ou n ty ,
W i s .— Bond
Sale.— Recorder advises us that it is expected that sewer extension
The 827,000 5 % coupon electric-light-plant bonds offered bonds which this city proposes to issue will be subscribed for
on Aug. 7 (V . 87, p. 303) were awarded on that day to E . H . by local people.
Rollins & Sons of Chicago at 107.07. A list of the bidders
J e f f e r s o n , W i s . — Bond Sale.— W e are advised that the
follows :
$7,500 electric-light bonds mentioned in V . 87, p. 53, have
E . H . H ollins & S on s, C h ic $28 ,008 00
I O tis & H o u g h , C le v le a n d _ $ 2 7 ,8 1 7 00
been taken by the parties from whom the property was
M a c D o n a ld , M cC oy & C o .,
lT h o s . J. B olger & C o .,
C h ica go ________________ 28,602 00
C h i c a g o ______________ ... 27,810 00
purchased, in payment for the same.
H arris T . & S a v .B k ., C h ic. 28,421 00 S. A . K ean & C o ., C h ic a g o .27,702 00
R u d o lp h K le y b o lte C o .,
K i m b a l l C o u n t y ( P . O . K i m b a l l ) , N e b . — Bid Rejected.—
T h e S e c u r ity S av in gs B k .
C h ic a g o --------------------------- 28,4 2 0 75
& T r . C o ., T o l e d o _____ 27,526 50
This county called for proposals until August 10 for $5,000
A . B . L each & C o ., C h ica go 28,367 00 I W ells& D ick e y C o ., M lnne6 % 5-year high-school-construction bonds. Only one bid
1st N at. B k ., H a r t f o r d . . 28,355 00 I a p o lls ____________________ 27,567 00
T r o w b r id g e & N lver C o .,
C. H . C o ffin , C h ic a g o ____ 27,541 00
was received and as it was below par, it was rejected. These
2 8 .087 50
C h c a g o . . ......................
Denomination $500. Date Sept. 1 1908. Interest annual. bonds are issued pursuant to a vote of 146 to 49 cast at an
Maturity $1,000 yearly on Sept. 1 from 1912 to 1918 in election held June 16 1908. Denomination $1,000. Date
clusive and $2,000 yearly on Sept. 1 from 1919 to 1928 July 1 1908. Interest annually at the County Treasurer’s
office.
inclusive.
K i n g C o u n t y S c h o o l D i s t r i c t N o . 40, W a sh .— Bond Offer
H a t t i e s b u r g , P e r r y C o u n t y , M i s s . — Bonds Authorized.—
Papers state that the City Council on August 5 decided to put ing .— Proposals will be received until 11 a. m . Aug. 24 b y
out $70,000 in bonds, a portion of which will be issued to Matt H . Gormley, County Treasurer (P. O. Seattle) for $1,500
take up a floating debt on which a high rate of interest is coupon school-house bonds. Authority, vote cast at elec
now being paid. It is also proposed to refund a $20,000 tion held July 9 1908. Denomination $300. Interest (rate
not to exceed 0 % ) payable annually at the County Treasurer’s
issue of sewer bonds.
office in Seattle or at the fiscal agency of the State of Wash
H a v e r h ill, E s s e x
C o u n t y , M a s s . — Temporary Tjoan.—
ington in New York City at option of purchaser. Maturity
A 3-months loan of $5,000 lias been negotiated with W m . A. ten years, subject to call after one year. Certified check or
Read & Co., of Boston at 3 .1 4 % discount.
draft for 1 % of the bonds, payable to the County Treasurer,
H a w k e s b u r y , O n t . — Debenture Offering.— Proposals will be is required.
Bonds will be ready for delivery on Sept. 15
received until 7 p. m. Sept. 8 by D. Doyle, Town Clerk, for 1908. The district has no debt at present. Assessed valua
$30,000 0 % refunding debentures. Interest annual. Ma tion 1907, $66,503.
turity part yearly for twenty years.
K i n g C o u n t y S c h o o l D i s t r i c t N o . 130, W a s h . — Bond Offer
H e m p h i l l C o u n t y ( P . O . C a n a d i a n ) , T e x . — Bonds Regis ing.—-Proposals will be received until 11:30 a. m . Aug. 24 by
tered and Sold.—-On Aug. 4 $35,000 5 % 5-40-year (optional) Matt H . Gormley, County Treasurer (P. O. Seattle), for
court-house bonds were registered by the State Comptroller. $2,500 coupon school-house bonds. Authority, vote cast at
The State Permanent School Fund has purchased these election held July 25 1908. Denomination $500. Interest
bonds on a 4 % basis. Purchaser to pay accrued interest.
(rate not to exceed 6 % ) payable annually at the County
H e n d r i c k s C o u n t y ( P . O . D a n v i l l e ) , I n d . — Bond Sale.—
Treasurer’s office in Seattle or at the fiscal agency of the
This county has awarded $4,080 4J ^% Clay and Franklin State of Washington in New York City at option of purchaser.
townships highway bonds to J. F. W ild & Co. of Indianapolis Maturity ten years, subject to call after four years. Certi
at par. Date May 15 1908. Interest semi-annual. Matur fied check or draft for 1 % of the bonds, payable to the County
Treasurer, is required. Bonds will be ready for delivery on
ity part yearly from one to ten years inclusive.
Sept. 15 1908. The district has no debt at present. As
H e n n e p i n C o u n t y ( P . O . M i n n e a p o l i s ) , M i n n . — Bond Sale.
— Henry C. Hanke offering par for 4s was the successful sessed valuation 1907, $170,315.
K o s c i u s k o C o u n t y ( P . O . W a r s a w ) , I n d . — Bond Sale.—
bidder on Aug. 10 for $33,600 ditch-construction bonds
Plain Township school-house bonds to the amount of $10,000
offered on that day. The bidders were as follows:
H en ry C. H anke (for 4 s ) _________
par
carrying 4 % % interest, have been bought by J. F . Wild &
T h o s. J. B olger & C o ., M in neapolis ( f o r ~ 4 ^ s j ....................................$3,382 00
Co. of Indianapolis at 100.35. Date July 1 1908. Interest
M in n esota L oa n & T ru st C o ., M in neapolis (fo r 4
____________ 33,768 50
U . M . S to d d a rd & C o ., M in neapolis ( f o r 4 H s ) ____________________
p ar
semi-annual. Maturity part yearly from one to five years
Date July 1 1908. Interest semi-annual. Maturity part inclusive.
yearly for ten years.
L a c o m b e , A l b e r t a . — Debenture Offering.— Proposals will
H e n r y ly n
Ir r ig a tio n
D is tr ic t,
C o l o . — Bonds
Voted.—
be received until Sept. 1 for the following 5 ^ % debentures:
The Denver “ News” of August 9 states that on August 8 $2,082 d eben tu res fo r a drain on B a rn ett A v e n u e . M atu rity tw e n ty -liv e
years.
the voters of this district authorized the issuance of $3 ,
4,918 d eben tu res fo r a drain on B a rn ett A v e n u e .
M atu rity t w e n ty -liv e
000,000 bonds to provide for the construction of the Inter
years.
3 ,0 0 0 lo ca l-im p ro v e m e n t deben tu res.
M a tu rity ten years.
mountain tunnel for the purpose of bringing water through
T . Clark King is Secretary-Treasurer.
the Continental Divide from Williams Fork River.
L a M o u r e C o u n t y ( P . O . L a M o u r e ) , N . D .— Bond Offering.
H e r k i m e r , N . Y . — Bond Offering Postponed.— The offer
ing of the $50,000 1-25-year (serial) coupon paving bonds — Proposals will be received until 3 p . m . Sept. 1 for the $50-.
at not exceeding 4 % interest, which was to have taken 000 4 ) ^ % 20-year court-house and jail-construction bonds
place August 10 (V . 87, p. 366), has been postponed until authorized at the election held June 24 (V . 87, p.116) by
a vote of 975 to 474. E .W . Field is County Auditor.
August 17.
L a n c a s t e r , S c h u y l e r C o u n t y , M o . — Bonds Registered.—
H ig h la n d P a r k S c h o o l D is t r ic t ( P . O . H ig h la n d P a r k ) ,
W a y n e C o u n t y , M i c h . — Bonds Defeated.— An election was An issue of $15,000 5 % school bonds was recently registered
held Aug. 4 to vote on a proposition to issue $45,000 building by the State Auditor. Denomination $500.
bonds. The proposition was defeated by a vote of 59 “ for”
L a r c h m o n t , N . Y . — Bond Offering.— Proposals will be
to 81 “ against.”
received until 8 p. m . Aug. 18 by L. ,S. Knevals, Village
Authority, election held July 21
H o l l y S p r i n g s , M i s s . — Bond Offering.— The Trowbridge & Clerk, for $30,000 bonds.
Niver Co. of Chicago was the successful bidder for the 1908, also Section 129, Village Law. Denomination $500.
$6,000 6 % 1-20-year (serial) coupon public-school bonds Interest, rate to be named in bid,payable March la n d Sept. 1.
offered (V . 87, p. 303) on Aug. 4. Authority Section 3415, Maturity $1,500 yearly on Sept. 1 from 1913 to 1932 in
Chapter 99, Laws of 1906. Date Aug. 1 1908. Denomina clusive. Certified check for 10 % of bid is required.
tion $300. Interest semi-annual.
L a v o y S c h o o l D i s t r i c t , A l b e r t a . — Description of Deben
tures.— We are advised that the $5,000 7 % school-building
H o o d R iv e r I r r ig a t io n D is t r ic t ( P . O . H o o d R iv e r ) , W a s c o
C o u n t y , O r e .— Bonds Not Yet Sold.— Up to Aug. 3 no sale debenture awarded on July 23 to the Ontario Securities Co.
had yet been made of the $40,000 6 % coupon irrigation-sys of Toronto (V . 87, p. 367), is coupon in form and is dated
tem-completion bonds offered without success on May 30, July 1 1908. Interest annual.
as stated in V . 86, p. 1605.
L a w r e n c e , M a s s . — Temporary Loan.— This city has bor
H o u s t o n , T e x . — Bonds Authorized.— On Aug. 5 the City rowed $100,000 from W m . A . Read & Co. of Boston at 3 .0 9 %
Council passed an ordinance providing for the issuance of discount. Loan matures N ov. 10.
$100,000 5 % coupon street-repair bonds. Denomination
L e o la S c h o o l D is t r ic t (P . O . L e o la ) , M c P h e r s o n C o u n t y ,
$1,000. Date August 5 1908. Interest semi-annually S o . D a k . — Bond Offering.— Proposals will be received until
at the Union Trust Co. in New York City. Maturity August 8 p. m . Aug. 20 for $7,000 6 % building bonds. Maturity
5 1938, subject to call after August 5 1928.
on Aug. 20 as follows : $2,000 in each of the years 1916
and 1920 and $3,000 in 1923.
H u n t i n g t o n C o u n t y ( P . O . H u n t i n g t o n ) , I n d . — Bond Sale.
— An issue of $35,532 4 j ^ % Warren Township highwayL e x i n g t o n , N o . C a r .— Bond Sale.— The
$20,000 5 %
improvement bonds was recently disposed of to J. F . Wild 20-40-year (optional) coupon improvement and refunding
6 Co. of Indianapolis. Denomination $592 20. Date bonds described in V. 87, p. 116, were awarded on Aug. 1
Jan. 2 1908. Interest May and November. Maturity to the Southern Loan & Trust Co.at par and accrued interest.
$1,776 60 on May 15 and $1 776 60 on N ov. 15 each year for
L i n t o n , I n d .— Bond Sale.— An issue of $12,000
4 j^ %
ten years.
school-house bonds has been awarded to J. F. Wild & Co.
I r o n R i v e r , I r o n C o u n t y , M i c h . — Bond Offering.— Pro- of Indianapolis for $12,050— the price thus being 100.417.
osals will be received until 2 p. m . August 22 by James Date June 1 1908. Interest semi-annual. Maturity p a r t
'. Henley, Village Clerk, for $25,000 sewer assessment yearly from five to fifteen years inclusive.
S
4 3 2
THE CHRONICLE
[VOL. LXXXVII.
M a t a g o r d a C o u n t y ( P . O . B a y C i t y ) , T e x . — Bonds Reg
istered.— An issue of $100,000 4 % 10-40-year (optional)
road and bridge bonds was registered by the State Comp
troller on Aug. 8.
M a t t o o n , 111. —■Bond Sale.— This city has disposed of to
local banks an issue of $22,000 5 % registered bonds for part
payment on the plant of the Mattoon Waterworks & Reser
voir Co. Denomination $1,000. Date July 22 1908. In
terest payable at the City Treasurer’s office. Maturity
July 22 1909, subject to call at any time.
M i a m i , O k l a . — Bond Offering.— Proposals will be received
until 8:30 p. m . Aug. 24 by J. S. Cannon, City Clerk, for
$30,000 sewer and $4,000 jail 6 % coupon bonds. Authority
election held July 21 1908. Denomination $500. Interest
Jan. and July in New York City. Maturity twenty-live
years. Certified check for 5 % of bid, payable to the City
Clerk, is required. This city has no bonded debt at present.
Floating debt $5,500. Assessed valuation for 1908, $1,300*,000’.
M i a m i C o u n t y ( P . G . P e r u ) , I n d 1.— Bonds Awarded in Part.
— Of the $252,000 3 ) 4 % coupon court-house-construction
bonds described in V. 87, p. 183, $84,000, maturing $14,000
yearly on Jan. 1 from 1909'to 1914 inclusive, were awarded
on Aug. 10 to the Citizens’ National Bank of Peru. An
offer was also received from Breed & Harrison of Cincinnati
and Miller Adams & Co. of Indianapolis, jointly, but this was
rejected, we are advised, “ on account of technicality in bid.”
Bonds are dated Feb. 6 1906.
M i a m i S c h o o l D i s t r i c t (F . O . M i a m i ) , O l c l a . — Bond Offer
ing.— Proposals will be received until 8 p. m . Aug. 24 by L.
D. Einsel, President School Board, for $15,000 5 % building
bonds. Certified.check fo r'5% is required'.
M i d d l e t o w n , 3 u t l o r C o u n t y , O h i o . — Bond Offering.— Pro
posals will be received' until' 12 m . Sept. 5 by John Ivunz,
City Auditor, for the $11,670 40 4 ) 4 % Crawford1Street and
W est Alley paving (city’s portion) bonds mentioned1in. V . 87,
p. 368. Authority Section- 2835, Revised' Statutes. De
nominations- $1-67 0 4 and $500. Date Aug. 15 1908.
In
terest semi-annually at the National Park Bank in New
N a tlo m v lT ru s t C o .. W in n ip eg-9 5\ 7 5 j W o o d , G u n d y & C o ., T oron to-. 13*835
Maturity $1,167 04 yearly on Aug. 15- from
G . A . S tlm son & G o., Toront>o_05
j W m . C . Brent., T o r o n t o . . . ..)3 -.548 York City.
1909 to 1918 inclusive. Certified check for $100 is required.
A em lliu s J a r v Is & C o .,T o ro n to .O 1.123 i N;vv & Jam -:;. R p r lm . .
Purchaser to pay
M a d i s o n v i l l e ( P . O . I n d . S t a . M , C i n c i n n a t i ) , O h i o . — Bond: Delivery ten days from date of award.
Offering.— Proposals will, be received until 12 m . Aug. 26 by accrued interest.
J. A . Conant, Village Clerk, for the following.coupon bonds:
M i l t o n S c h o o l - D i s t r i c t ( P . O . W e s t M i l t o n ) , O h i o . — Bonds
5 1,328 40 5 % A r c h e r S treet Im p ro v e m e n t assessm ent b o n d s C ertified’ Refused.— Through, a letter received from the Clerk of the
ch e ck fo r 5100 Is requ ired.
8 ,0 1 0 71* 4 % S tew art P la ce Im p r o v e m e n t assessm ent b o n d s. C ertified ’ Board of Education, we learn that the $50,000 4)4-% coupon
•
ch eck fo r $200 Is requ ired .
school-building bonds, the sale of which was reported in V.
Date June 24 1908. Interest annually at the Cincinnati 87', p. 54, have been refused by the parties to whom they
Trust Co. in Cincinnati. Maturity one-tenth of each issue were awarded, namely, the Troy National Bank of Troy
yearly on June 24 from 1909 to 1918 inclusive. Certified and the First National Bank of W est Milton.
checks to be made payable to the Village Treasurer. Pur
M i n i o t a , M a n . — Debenture Sale.— $35,000 4 % 20-year
chaser to pay accrued interest.
telephone debentures have been purchased by the Domin
M a p le L e a f P u b lic S c h o o l D is t r ic t N o . 4 7 6 ( P . O A ld e r ion Securities Corporation of* Toronto.
s y d e ) , A l b e r t a . — Debenture Offering.— Proposals will be re
M o r g a n C o u n t y ( P . O . M a r t i n s v i l l e ) , I n d '.— Bond Sale.—
ceived by Daniel- Wenger, Secretary-Treasurer, for $2,200 An issue- of $47,500 4-)4% J'ackson Township, school-house
debentures. Interest annual'. Maturity part yearly for bonds dated July 1 1908 was recently disposed of. J. F.
twenty years.
Wild & Go. of Indianapolis were the successful bidders,
M a r c e l l u s , O n o n d a g a C o u n t y , N . Y . — Bonds Voted.— This payng par.
Interest semi-annual. Maturity part yearly
village recently voted to issue $25,000 4 % water-works from one to five years inclusive.
bonds.
M o r r is o n S c h o o l D is tr ic t ( P . O . M o r r is o n ), W h ite s id e
M a r i o n , O h i o , — Bond Offering.— Proposals will be reoeivod C o u n t y , 111.— Bond'Sale.— Geo. M. Bechtel & Go. of Daven
until 12:m . Sept. 1 tty Harry S‘. Elliott, City Auditor, for the- port were the successful bidders on Aug. 10 for the $45,000'
fo l i o wing- bonds:
4 ) 4 % school-house^repair bonds' dated Aug. 4 1908' and$20«980.4,% re fu n d in g -b o n d s .
A u th o r ity an Act* o f th o G eneral A ssem b ly
described! in V. 87, p. 304. The prito paid' was 102.266
p a ssed .A p rll 20 1002 an d all a m en d m en ts th e re to .
D e n o m in a
and accrued interest. Following are the bids:
tio n $60 0; e x c e p t o n e b o n d o f $ 4 8 0 .
M atu rity three bon d s on
L ittle R o c k S ch o o l D is tr ic t
(P . O . L ittle R o c k ) , A r k .— -
Bond Sale.— This district has awarded $60,000 building
bonds voted on July 22 to the Mercantile Trust Co. of St.
Louis, Mo. , at 96.
L o u i s v i l l e , K y . — Bond Election.— The City Council has
passed an ordinance providing for an election to vote on- a
proposition to issue $1,000,000 bonds for the construction
and furnishing of the proposed new city hospital.
L u c a s C o u n t y ( P . 0 . T o l e d o ) , O h i o . — Bond Offerings.—
Proposals will be received) until. 10 a. m . Sept. 4 by the Board
of County Commissioners for $82,000 + A % bridge-repair
bonds. Authority Sections 871 and.2825, Revised Statutes.
Denomination $500. Date, day of delivery. Interest
semi-annually at the County Treasurer’s office. Maturity
$ 4 ,5 0 0 'yearly from one to sixteen years inclusive and $2,500
yearly from seventeen to twenty years inclusive. Certified
check (or cash) for $1,000 on a bank doing business in Toledo
is required. Delivery Sept. 14 1908.
Proposals will also be received until 11 a. m . on the same
day (Sept. 4) for $60,000 4>)j% road-improvement bonds.
Authority Section 4919-1. Revised Statutes. Denomination
$500. Date, day of delivery. Interest semi-annually at the
County Treasurer’s office. Maturity i t 1,000 yearly from
six years to twenty years inclusive. Certified- check (or
cash) for $1,000'drawn on a bank doing business in Toledo is
required. Bonds will be delivered'on Sept. 14 1908. D:. T .
Davies, Jr., is County Auditor.
M c A le s te r ,
P itts b u r g h
C ou n ty,
O k l a .— Bond Election
Postponed.— The election which was to have been held Aug. 4
to vote on the propositions to issue the $156,000 sewer-sys
tem-construction and1 the $7,000 jail bonds mentioned in
V. 87, p. 304, has been postponed until after the county-seat
election, which will be held on Sept. 26.
M a c D o n a ld ,
M a n .— Debenture
Sale.— On Aug. I the
$20,000 4 % 20-year telephone-construction
debentures
offered on that day (V . 87, p. 304) were awarded to the
National Trust Co. of Winnipeg at 95.75. Denomination
$500. Date Aug. 1 1908. Interest Jan. 1 and July 1. The
bids were as follows:
M arch 1 In each o f 't h e years 1000, l p i o , 1011 a n d -1 0 1 2 , fo u r
b o n d s on S e p c .l In each o f-th e years 1 0 0 3 :1 0 1 0 , 1911 an d l i m ,
l iv e b o n d s o n M arch 1’ 1013, tw o b o n d s each s t x -m o n t h s fr o m
M a r c h 1 1014 t o ,S e p t . 1. 10.17 In clu sive, live b o n d s -o n S ep t. 1 .
1013, tw o b o n d s on M arch 1 1018 a n d fo u r b o n d s o n S ept. 1
1018.. C ertifie d ,ch e ck -fO r $4 ,000. Is requ ired.
5 ,0 3 5 4 % stre e t-im p ro v e m e n t (clty.’s p o rtio n ) b o n d s.
A u th o r ity an Act.
o f the- G eneral A ssem b ly p a s s e d 'O c t. 22 1002.
DenomlhatlOrr.
$50 0, e x c e p t ;o n e b o n d o f ’ $435.
M aturity, on e b o n d each six.
m o n th s from M arch 1 1915.t o S e p t. 1 1020,In clu sive. Certified
c h e c k fo r $500 Is >‘« n i h e d f
Geo. M. Bechtel
C o..
D a v e n p o r t ______________$15 ,340
M ercantile T r . C o ., St. I k 1 5 . 2 8 2
T ro w b r id g e <5oNlver, C h ic. 15,227.
W m . R . C o n yito n B o n d '&
M ortg age C o ., S t. L ou is 15.175
H arris T r . & Suv. B k ..C h l. 15,162
A . B. L each & C o ., C h ic . - 15,155
M a cD o n a ld ; M cC o y & C o .,
C h i c a g o , ________________ 15,151
D evltt.T rcm ble«5eC o.,C hlc. 15‘.11'4
T h o s ; J. B olger C o . „ C h l o .$ 1 5 ,113-00
00 B tim pus-Stevens C o :, D o t. 15,105 50
00 S. A . K e a n , C h ic a g o _____ 15,000 0 0 '
00 C offin & C ra w ford , C h i c . . 15,075 00.
C. H . C o ffin , C h ic a g o ___ 15,041 00
00 N . W . H alsey & C o ., C h ic . 15,030 35
00 R u d o lp h K le y b o lte C o .,
I n c ., C h ic a g o _____ ______ 15,015 50
55
A m erican Trust' & S avin gs
00
B a n k . C h ic a g o ._________ 15,007 50.50
The above bonds are dated* Aug. 1* 1908:
Iht'erest annually in JUly. Mattirity $1,000 yearly oil
M a r i o n C o u n t y (Pi O . I n d i a n a p o l i s ) , I n d . — Bondts .Pro July V from-1910 tb 1924 inclusive.
posed.— We aro informed by the County Auditor that tHe
N a s h v i l l e , D a v i d s o n C o u n t y , T e n n . — Bonds Voted1.— Bond
Board of County. Commissioners-is1considering* the advisa Offering.— The election held Aug. 6- resulted in favor of the
b i l i t y of'issuing $400,000 additional1bridge bonds.
$50)000 4i% % 20-year sidewalk and' curbing-construction
Interest semi-annually
M a r i o n C o u n t y ( P -. O . M a r i o n ) , O h i o . — Bond Sales.— On bonds mentioned in V. 87, p. 183.
Aug. 8 the La Rue Bank Co. of La Rue purchased the $11, at the City Treasurer's office. Proposals for these securities
600 4 ) 4 % coupon refunding De Cliff Free Turnpike road- will be received”until Aug'. 22.
Bond Sale.— Arrangements have Been completed' With
construction, ttondb’described in V. 87) p. 367', fbr $1*1*,884*30
— the price- thus being 102.019*. Reports state that on the Sykes, Ilfgram- & Co., acting as agent'for A. B. Leach $ Co.
same day $5,435 4 ) 4 % 10-year-(average) bonds-and $7,300- of Chicago; for th e sale o f the $200;000 4 % 20iyear water3ryoaJ? (average) bonds wore-disposed oft to Btirto* Scott <£>Co. main-extension bonds, bids fbr which wore r e j e c t e d on
of’ Columbus for $6,54 7 50 and Buoyrus-City Bank-of‘ Rticy* April 20. See V-. 87, p. 188:
rus f.or $7,334 respectively .
N6w B o s t o n S c h o o l D i s t r i c t , S c i o t o C o u n t y , O h i o . — Bbnd
M a r i o n O b u n t y ( P . O . P a l m y r a - ) , M o .— Bonds Awarded in Sale.— The $12,000' 5 % Oiik Street'school-building bonds
Part.— Of the $75,000 4 % coupon infirmary bonds offered described*in V . 87-, p. 1*83) were awarded on Aug'. LOJtO the
on Aug. 1 0 - (V. 87) p. 304) $40,000- were b o u g h t'b y the First' National Bank o f Cleveland; at 105.55 and' accrued
Hannibal Trust Go. of, Hannibal at 1,00.25.. Bids were also ■ interest. The bids received were as fellows:
tis & H o u g h . C love an d L $12,457 7 5 '
received from tho Fanners and Merchants Bank,of Hannibal, FlnrtiN at. B ank; C l e v e .. .$ 1 2 ,0 6 6 00 O
C en tral,M at: B k .. P o r ts m . 12,637 00 R u d o lp h : K le y b o lte C o ,,
N . W . Halsey & Co. of Chicago, the W m . R. Compton Bondi F ield, L'ongstrcth* & C o .,
l n c ,, C in cin n a ti------------ 12,426 Ofi
Clftclnnatl _____________ 12,607 00 W . I ll T bddi & C o i. C lttci . 12,360 00
&, Mortgage* Go. of St. Louis, the Mercantile Trust Co. and
rto , S c o tt & C o ., C olu m . 12,600 00 N ew First N ation a l B a n k ,
E . H . Rollins & Sons.of Chicago. Bonds are dated July, 31. SBeacu
C o lu m b u s ---------------------- 13,310 00
rity Savings B ank &
T r u s t .C o .. T o l e d o _____ 12.502,00 S ecu rity- S avin gs & T ru a t'
1908. Interest Feb. and Aug. Maturity “ 1923, and. 1,928,”
C o i, P o r ts m o u th _______ 12,102 00
E : D enison & C O ., CiOv. 12,527 25
subject.to.call; however, $40,000 alter.five years and. $ 3 5,00 0’ C.
M ilner, M iller & Searl ( f o r
P o r t s m o u t h 1Bankings Oov.
$ 3 , 0 0 0 - b o n d s ) _ . ...............
3.1 2 6 83,
P o r t s m o u t h .......................... 12',4M<f00
after ten years.
Auc*. 15 1908.|
T H E CHRONICLE
Maturity $3,000 on Sept. 1 in each of the years 1912,
1915, 1918 and 1921.
New Hanover County (P. 0 . W ilm ington), N . C .— Bond
Election.— 'The question of issuing $50,000 road-improve
ment and bridge-building bonds will be determined by the
voters at an election to be held Sept. 24.
New Rochelle, N . Y . — Bond Offering.— Proposals will be
received until 8 p. m . Aug. 25 (date changed from Aug. 18)
by William G. Rainsford, City Clerk, for $111,000 5 %
registered school bonds. Maturity $9,000 yearly on May 1
from 1920 to 1931 inclusive and $3,000 on May 1 1932.
Denomination $1,000. Date Aug. 1 1908. Interest on
bonds payable May 1 and N ov. 1 at the City Treasurer’s
office. Certified check on a bank or trust company in New
York State for 5 % of bonds bid for, payable to the City
Treasurer, is required. Purchaser to pay accrued interest.
Bids for bonds must be made upon blank forms furnished
by the City Clerk. Delivery Sept. 1 1908.
Northfield Township (P. O. Northfield), Summit County,
Ohio.— Bond Sale.— On Aug. 8 the $10,000 5 % coupon
town-hall-building bonds described in V . 87, p. 305, were
awarded to the First National Bank of Cleveland at 106.53
and accrued interest. The bids received were as follows:
F irst N a t. H k ., C le v e la n d .$10 ,653
R o d g e r s & S on s. C hagrin
F a l l s ------------------------------- 10,637
S e a s o n g o o d & M ayer, C ln . 10,608
F ield , L on g streth & C o .,
C in c in n a ti----------------------- 10,605
C. E . D en ison & C o ., C le v - 10,587
00 S e cu rity S a v in gs B ank &
T ru st C o ., T o l e d o _____ $ 10 ,575 00
00 O tis & H o u g h , C le v e la n d . 10,553 00
00 B a r t o ,S c o t t & C o .,C o lu m b - 10,397 00
W e ll, R o t h & C o ., C ln c ln - 10,344 00
00 W . .1. H a yes & S ons, C le v . 10,318 00
25 S. A . K ean . C h ic a g o _____ 10,210 00
Maturity part yearly on Sept. 1.
North Hempstead Union Free School District N o. 10
(P . O. Port W ashington), Nassau County, N . Y .— Bond
Sale.— This district on July 31 sold to N . W . Harris & Co.
of New York City an issue of $25,000 5 % school bonds at
106.782. Denomination $1,000. Date July 1 1908. In
terest semi-annual. Maturity $1,000 yearly from 1913 to
1927 inclusive and $10,000 in 1928.
Northport, N . Y . — Bond Sale.— An issue of $15,000 5 %
5-20-year (serial) street-improvement bonds was recently
disposed of at 100.47 to Geo. M. Hahn of New York City.
Denomination $1,000.
North Sydney, N. S .— Price Paid for Debentures.— W e are
informed that the price paid for the $50,000 5 % 30-year
water-works debentures awarded on July 10 to the Montreal
Trust Co. of Montreal (V . 87, p. 368) was 94 and interest.
Denomination $1,000. Date June 1 1908. Interest semi
annual .
North Wildwood, Cape May Co., N. J .— Bond Offering.
— Further details are at hand relative to the offering of the
$25,000 5 % funding bonds. Proposals will be received
until 8 p. m . Aug. 18 by Jason Buck (P .O . Anglesca), Chair
man Finance Committee. Authority Laws of 1899.
De
nomination $500. Interest June 1 and Dec. 1 at the Marine
National Bank of Wildwood. Maturity thirty years. Cer
tified check for $250, payable to the Borough Treasurer, is
required. Bonded debt, including this issue $58,000.
Assessed valuation for 1907, $1,995,968.
Real value
(estimated), $3,500,000.
Oakland, Douglas County, Ore.— Bond Offering.—.Propos
als will be received until 8 p. m . Aug. 18 by E . M. Brooks,
City Recorder, for $15,000 gold coupon water bonds at not
exceeding 6 % interest. Authority vote of 65 to 34 at election
held May 26. Denomination $500. Interest semi-annual
in Oakland, Portland, San Francisco, Chicago or New York,
to suit purchaser. Bonds are exempt from taxation. Ma
turity twenty years. Certified check for 1 0 % , payable
to Z. L. Dimmick, City Treasurer, is required. These bonds
were offered as 5s on July 14, but all bids received on that
day were rejected. See V . 87, p. 241.
Ocilla, G a.— Bond Offering.— Proposals will be received
until 12 m . Sept. 10 by D . W . Paulk, City Clerk, for $7,000
water-works system and $8,000 city-hall and site-purchase
5 % gold coupon bonds. Authority vote of 88 to 0 at elec
tion held Aug. 3. Denomination $1,000. Interest Jan. 1
at any place in United States. Date Sept. 1 1908. Ma
turity $1,000 yearly on Sept. 1 from 1923 to 1937 inclusive.
Certified check for $500, payable to the City Clerk, is re
quired.
•
Ogden School District (P . O. Ogden), Weber County,
U tah .— Bond Offering.— Proposals will be received until
12 m . Sept. 1 by the Board of Education, Ivy Williams,
Clerk, for $75,000 4 % coupon school-improvement and
high-school-building bonds. Authority vote of 588 to
414 at election held July 10 1908. Denomination $1,000.
Date day of sale. Interest semi-annual. Maturity twenty
years, subject to call after five years. Certified check for
5 % of bid, payable to the Board of Education, is required.
Official circular states that there is no litigation or contro
versy pending or threatening which affects the corporate
existence or the boundaries of the inunicipality, the title
of the officials to their respective offices or the validity of
these bonds. It also states that there has never been any
default in the payment of any of the city’s obligations.
Okotoks, Alberta.— Debenture Offering.—-Some additional
details arc at hand relative to the offering on Sept. 1 of the
$5,000 6 % coupon debentures mentioned in V . 87, p. 368.
Proposals will be received until 12 m . on that day by Ash
worth Anderson, Secretary-Treasurer.
The debentures
433
are dated Aug. 1 1908 and $4,000 are issued for the purpose
of paying an indebtedness to a bank, while $1,000 are for
improving the streets. Interest annually at the Union
Bank of Canada in Okotoks. Maturity part yearly on Aug. 1
from 1909 to 1928 inclusive. Assessed valuation for 1908,
$388,645.
Outremont, Que.— Price Paid for Debentures.—-The Mont
real Trust & Deposit Co. of Montreal paid 100.51, we are
advised, for the $30,000 5 % 42-year improvement debentures
recently purchased. See V . 87, p. 368. Denomination
$1,000. Date May 1 1908. Interest semi-annual.
Owego, N . Y .— Bond Sale.— The $3,000 4 j ^ % 1-6-year
(serial) paving bonds voted on May 26 (V . 86, p. 1549) were
awarded on Aug. 10 to the Tiogo National Bank of Owego
at 102— a basis of about 3 .8 8 5 % .
Denomination $100.
Date Aug. 10 1908. Interest annual.
Owen County (P. O. Spencer), In d .— Price Paid for
Bonds.— The price paid for the following bonds, the award
of which to J. F . W ild & Co. of Indianapolis was reported
in last week’s “ Chronicle” , was par.
$ 3 ,5 6 5 4 'A
J e n n in g s T o w n s h i p b o n d s .
D e n o m in a t i o n $ 1 7 8 2 5 .
3 .4 7 0 \ 'An’a T a y l o r T o w n s h i p b o n d s .
D e n o m in a t i o n $ 1 7 3 5 0 .
Oxford, Butler County, Ohio.— Bond Offering.— Proposals
will be received until 12 m . Aug. 31 by D . P. Beaton, Villago
Clerk, for the $50,000 4 A °/o coupon sewer-construction bonds
voted on July 6. See V . 87, p. 184. Authority Section
2835, Revised Statutes. Denomination $500. Date July 15
1908. Interest semi-annually at the Village Treasurer’s
office. Bonds are exempt from all taxes. Certified check
for 5 % , payable to the Village Treasurer, is required.
Palo pinto County (P. O. Palo Pinto), T e x .— Bonds
Registered and Sold.— The State Comptroller registered
$5,850 4 % 5-20-year (optional) bridge-repair bonds on Aug.
5. These securities have been awarded to the State Perman
ent School Fund at par and interest.
Paoli, Orange County, In d .—■Bond Sale.— On Aug. 6
E . M. Campbell & Co. of Indianapolis were awarded the
$7,955 4 j ^ % coupon electric-light bonds described in V . 87,
p. 305, at 101.695 and accrued interest. The bids received
were as follows:
E . M . C a m p b e ll & C o ., I n d - . $ 8 ,0 8 9 8 6 IM U ler, A d a m s & C o . , I n
B r e e d & H a r r i s o n , C l n c l n . . 8 ,0 8 8 3 3 1 d l a n a p o ll s ......................... . . $ 8 , 0 2 0 0 0
Maturity $455 on July 15 1909 and $500 on July 15 in the
years 1910, 1911 and 1912 and $500 each six months from
Jan. 15 1913 to July 15 1918 inclusive.
Park City ( P . O . Knoxville), Knox County, Tenn .— Bond
Offering.— Proposals will be received until 1 p. m . Aug. 25
by W . R . Johnson, Mayor, for the $105,000 5 % improvement
bonds voted on Aug. 4. Authority, page 308, Chapter 107.
Acts of the Legislature of 1907. Date Sept. 1 1908. Inter
est semi-annually at the Hanover National Bank in New
York City. Maturity Sept. 1 1938. Certified check for
$5,000 is required. The legality of this issue has been
approved by J. H . Caldwell, City Attorney of Knoxville, and
Eugene W ebb, Attorney, of Park City.
Pembroke, O nt.— Debenture Sale.— On July 31 the $41,760
4 > £ % 1-20-year debentures described in V. 87, p. 241, were
awarded to the Standard Life for $41,250, the price thus
being 98.778.
Philippi, W . V a .— Bonds Voted.— This village recently
voted, it is stated, to issue $16,000 street-paving bonds.
Pliilipstown Union Free School District N o. 4 ( P . O . G ar
rison), Putnam County, N . Y . — Bond Sale.— On Aug. 8
$20,000 5 % school-house bonds were purchased by Adams
& Co. of New York City at 103.20. Denomination $1,000.
Date Sept. 1 1908. Interest annually at the National Bank
of Cold Spring in New York exchange. Maturity $1,000
yearly on N ov. 1 from 1909 to 1928 inclusive.
Pierre, Hughes County, S. D .— Bond Sale.— The $15,000
5 % 20-year sewer-extension bonds voted on April 21 (V . 87,
p. 119) were sold on Aug. 4 to the Rudolph Kleybolte C o.,
Inc., of Chicago, for $15,312 50 (102.083)— a basis of about
4 .8 3 7 % . Denomination $1,000. Date Aug. 1 1908. In
terest January and July.
Pipestone, M an.— Debenture Offering.— Proposals will be
received until 12 m . Aug. 31 by A . P. Power, SecretaryTreasurer (P. O. Virden), for $30,000 4 % debentures. Inter
est semi-annual. Maturity twenty years.
Platte, Charles Mix County, So. D ak.— Bond Offering.—.
Proposals will be received until 8 p. m . Aug. 20 by W .
Foander Voort, City Auditor, for the $18,000 5 % coupon
water-works bonds voted (V . 87, p. 119) on June 16. De
nomination $500. Date Sept. 1 1908. Interest payable
at place designated by purchaser. Maturity Sept. 1 1928.
Bonded debt at present $6,500. Floating debt $1,000.
Assessed valuation for 1908 $234,375.
Plymouth County ( P . O . Plym outh), M a ss.— Note Offer
ing.— Proposals will be received until 10:30 a. m . Aug. 17
by the County Commissioners,Walter II. Faunce, Lyman
P. Thomas and Jere B . Howard, for $60,000 notes.
Au
thority Secton 3, Chapter 137, Acts of 1908.
Pocatello Independent School District N o. 1 (P . O. P o
catello),
Idaho.— Bonds Voted— Bond Offering.— At an
election held recently 28 votes were unanimously cast in
favor of the issuance of $15,000 "4 J ^ % or 5 % ” heatingplant bonds. Maturity June 20 1928, subject to call after
ton years. Proposals for these bonds will be received
434
TH E CHRONICLE
[VOL. LXXXVII
until 8 p. m . Sept. 14. Walter R . Siders is Superintendent F i f t h -T h ir d N a t. B a n k , C l n . . . $8,012 ICItlzens B k g . C o .. S a n d u s k y ...p a r
T h ir d N a t. E x e h . B k ., S a n d .. 8,010 IS ecu rity S. B. & T r . C o . , T o l
a p ar
of the City Schools.
S e a s o n g o o d & M a ye r, C ln ------- 8,006 |W e ll, R o t h & C o ., C in cin n a ti
a p ar
P r o v i d e n t S. B . &. T r . C o ., Cin
par |
Port Elgin, O nt.— Debenture Sale.—’This place, according
a L ess $75 fo r a tto r n e y ’ s fees and o th e r ex p e n se s,
b P r o v id e d th e y b e
to reports, has disposed of $6,000 4 % % 1-20-year debentures
fu rn ish ed free o f c o s t w ith an a p p ro v e d o p in io n fro m a tto rn e y s re la tiv e t o
to W m . C. Brent of Toronto.
th e le g a lity o f Issue.
Rafael School District, Santa Barbara County, Cal.—■
All bidders, with the exception of Seasongood & Mayer,
Bond Sale.— On Aug. 3 this district awarded the $7,000 offered accrued interest in addition to their bids.
6 % 1-10-year (serial) school-building bonds described in
San Francisco, Cal.— Bond Offering.— Further details are
V . 87, p. 306, to Geo. S. Edwards at 104.30— a basis of
at hand rleative to the offering of the following gold coupon
about 5 .0 9 4 % . A list of the bidders follows:
(with privilege of registration) bonds, mention of which was
G e o . S . E d w a r d s ------------------ $ 7 ,3 0 1 0 0 ] N .W . H a r r i s & C o . , S a n F r - $ 7 , 2 1 6 50
W m . R . S ta a ts C o ., P a sa C e n tr a l B a n k , S a n t a B a r made in V . 87, p. 306. Proposals will be received until
d e n a ............- ............................ 7 ,2 6 3 0 0 ]
b a r a _____________ _______ 7 , 0 5 0 0 0
3 p. m . Sept. 8 by John E . Behan, Clerk Board of Super
Date July 11 1908. Interest annual.
Red Lodge, M ont.— Bond Offering.— This city, A . C. visors.
Spencer, Clerk, will offer at public auction at 8 p. m . Aug. 27 $ 1 ,0 0 0 ,0 0 0 o f th e $ 5 ,2 0 0 ,0 0 0 5 % au x ilia ry -w a te r -s y s te m -fire -p r o te c tio n
b o n d s.
M a tu rity $25 ,000 y e a r ly frb m
an issue of $30,000 5 % coupon sewer-system-construction
1916 t o 1955 Inclu sive.
bonds. Denomination $1,000. Authority election held
8 0 0 .0 0 0 o f th e $ 4 ,0 0 0 ,0 0 0 5 % sew er-system b o n d s.
M a tu rity $ 2 0 ,0 0 0
y e a r ly fr o m 1915 to 1954 in clu siv e .
July 17 1908. Date Aug. 1 1908. Interest Jan. 1 and July 1.
1 , 2 0 0 , 0 0 0 o f th e $ 5 ,0 0 0 ,0 0 0 5 % s c h o o l-h o u s e an d site-p u rch a se b o n d s.
Maturity Aug. 1 1928, subject to call after Aug. 1 1918.
M a tu rity $48 ,000 y e a r ly fro m 1914 to
1938 in clu siv e .
Renovo, P a.— Bond Offering.— Proposals will be received
28 0 .0 0 0 o f th e $ 2 ,0 0 0 ,0 0 0 5 % h o sp ita l b o n d s .
M a tu rity $ 14 ,000 y e a r ly
fr o m 1913 to 1932 In clu sive.
until 12 m . Aug. 15 by C. H . Miller, Chairman Finance
Denomination $1,000. Authority election held May 11
Committee, for $15,000 water and $20,000 street 4 j^ %
coupon improvement bonds. Authority vote of 581 to 48 1908. Date July 1 1908. Interest semi-annually at the
at election held May 16 1908. Denomination $100 to $500.
City Treasurer’s office or at the office of the fiscal agency in
Interest semi-annually at the City Treasurer’s office. Ma
turity thirty years, subject to call after ten years. Bonds New York City, to suit purchaser. Bonds are free from all
are exempt from State or municipal tax. Certified check on taxes and will be delivered any time after ten days and
a national bank for 1 % of bid, payable to W . J. Straley, within thirty days from date of sale. Bids to be made upon
Borough Treasurer, is required. Total debt at present,
blank forms furnished by the city, be unconditional and be
$25,000. Assessed valuation $986,265.
Rocky Mount Road District (P. O. Rocky Mount), Edge accompanied by a cash deposit or certified check payable
combe County, N . C .— Bond Offering.— Proposals will be to John E . Behan, Clerk, for 5 % of bid, provided, however,
received until 2 p. m . Aug. 18 by W . E . Jeffreys, Chairman, that no deposit need exceed $10,000. The legality of these
for $10,000 5 % coupon road bonds. Authority Chapter bonds has been approved by Dillon & Hubbard of New York
814, Public Laws of 1907. Denomination $1,000. Interest
January and July in New York. Maturity forty years. City, a copy of whose opinion will be delivered to the pur
Certified check for $250, payable to the District Treasurer, chaser. Official circular states there is no litigation pending
is required.
or threatened affecting the validity of this issue; also that
Roosevelt School District (P . O. Roosevelt), Nassau there has never been any default in the payment of principal
County, N . Y . — Bond Sale.— On Aug. 10 an issue of $6,500 or interest.
bonds, bids for which were opened on Aug. 8, was awarded
The official notice of this bond offering will be found among
to the First National Bank of Freeport at 102.
the
advertisements elsewhere in this Department.
Roseburg, Douglas County, Ore.— Bond Offering.— Pro
San Pedro, Los Angeles County, Cal.— Bonds Defeated.—
posals will be received until 8 p .m . Aug. 21 by A. N . Orcutt,
City Recorder, for $35,000 5 % street-improvement bonds. The election held Aug. 3 resulted in the defeat of the proposi
Denomination $500. Interest semi-annually in Roseburg, tions to issue the $16,000 cty-hall and $10,000 fire-depart
Portland, San Francisco or New York, to suit purchaser. ment bonds mentioned in V . 87, p. 242.
Maturity twenty years.
Saybrook Township School District (P. O. Geneva), Ohio.
— Bond Offering.—-Proposals will be received until 10 a. m .
Roxboro, Person County, No. Caro.— Bond Sale.— We
have just been advised that on April 1 the $20,000 5 % 30- Aug. 17 by W . J. Richmond, Clerk Board of Education, for
year graded-school-building bonds offered without success $2,400 5 % coupon bonds. Authority Section 3994, Revised
on Aug. 26 1907 (V . 86, p. 623) were awarded to the People's Statutes. Denomination $600. Date Sept. 1 1908. Inter
Bank of Roxboro at 98. Denomination $500. Date April 1 est semi-annually at the Township Treasurer’s office. Bonds
are tax-exempt. Certified check for 1 0 % , payable to the
1908. Interest semi-annual.
Board of Education, is required. Total debt, this issue.
Sacramento, Cal.— Bond Sale.— The State of California,
Assessed valuation for 1908, $1,200,000.
offering par, was the successful bidder for $50,000 high-school
Shawnee, Perry County, Ohio.— Bond Offering.— Propo
and $75,000 levee bonds offered on Aug. 3.
sals will be received until 12 m . Sept. 1 by John D . Davis,
Saginaw, M ich.— Bond Sales.— Since Jan. 1 this city has
Village Clerk, for $25,000 4 } 4 % water-works bonds. Au
sold the following 4 % bonds:
thority Sections 2835 and 2837 of the Revised Statutes.
D e n o m in a t io n .
D ate.
A m ou n t.
P u rp ose.
$10,000 Sew ers, W estern T a x in g D istrict — ..........$1,000 M arch 2 1908 Denomination $500. Date Sept. 1 1908. Interest semi
do
5.000
clo
do
500
annually at the office of the Village Treasurer. Maturity
do
3.0 0 0
do
do
- .............
300
$500 each six months from Sept. 1 1913 to March 1 1938
2.000
do
do
do
100
2,000 W a te r , W estern T a x in g D is tr ic t_________
inclusive. Certified check for 5 % of bonds bid for, is re
100 M ay 1 1908
3.000
do
do
do
500
quired. Purchaser to pay accrued interest and furnish
do
10,000 S treet Im p ., E astern T a x in g D is t r ic t_______1,000
blank bonds at his own expense.
10,000
do
do
500
do
500
5.000 A u d ito r iu m -------------------------------------------------do
Sidney, Cheyenne County, N eb.— Bond Sale.— On Aug. 1
5.000
do
..................
1,000
do
20.000 S treet, E astern T a x in g D is tr ic t________ 1,000 Ju n e 1 1908 the $20,000 6 % 5-20-year (optional) coupon water bonds
S
ew
er
refu
n
d
in
g
,
W
e
s
t.
T
a
x
.
D
ls
t_________
1,000
Bto,ooo
do
described in V. 87, p. 120, were awarded to the Trowbridge
;i00
W a te r, W estern T a x in g D is t r ic t________
900
do
do
do
ioo
800
do
& Niver Co. of Chicago at 102. The bids were as follows:
25,000
do
do
1,000
Jun e 15 1908
Interest on the above bonds is payable semi-annually.
St. Joseph, M o.— Bonds Voted— Bond Offering.— The elec
tion held Aug. 8 resulted in a vote of 2,581 “ for” to 942
“ against” the proposition to issue the $400,000 4 % 20-year
bonds, mention of which was made in Y . 87, p. 184. These
securities are now being offered for sale and proposals will be
received until 2 p. m . Aug. 29.
St. Petersburg, F la .— Bonds Voted.— 'The recent election
(V . 87, p. 119) resulted in favor of the issuance of $7,000
pumping-station and $5,000 cross-walk 6 % 30-year bonds.
Interest annual.
Salisbury, M d .— Bond Offering.— 'Proposals will be re
ceived until 8 p. m . Aug. 24 by the Mayor and the City
Council for $30,000 4J ^% coupon street-improvement bonds.
Denomination$500. Date Aug.ll 1906. Interest commencing
from the date of sale, payable semi-annually. Maturity
$1,000 on Feb. 1 1920 and $2,000 yearly on Feb. 20 begin
ning 1921, unpaid bonds being subject to call, however,
after Feb. 1 1922. Bonds are exempt from State, county
and municipal taxation. Jehu T . Parsons is Clerk of the
City Council.
Sandusky, Ohio.— Bond Sale.— On Aug. 10 the following
bids were received for the $8,000 4 % 11-year Washington
Street paving (city’s portion) bonds described in V . 87, p.
242:
[O tis & H o u g h , C le v e la n d ____ $20 ,300
T ro w b rid g e & N iv e r C o .,
...M $ 2 0 ,4001 A m erican B an k , S id n e y _____ 20,300
C h icago
G uarantee Fund, O m a h a ____ 20,300 |C. H . Coffin, C hicago------ 20,251
Sky Hill School District No. 1782, Alberta .— Debenture
Sale.— This district recently sold $1,500 debentures.
South Sharon School District (P . O. South Sharon),
Mercer County, P a .— Bond Sale.— This district on July 27
awarded the $30,000 4 ^ % 30-year coupon high-schoolcompletion and equipment bonds described in V . 87, p. 56,
to the Trowbridge & Niver Co. of Chicago at par. Date
July 1 1908.
.
Spalding Township, Aitkin County, Minn.— Bond Offering.
— Proposals will be received until 6 p . m . Aug. 15 by John
Graden, Chairman Board Township Supervisors, (P. O.
McGregor), for $4,000 couponroad and bridge bonds. De
nomination $500, except one bond of $1,000. DateSept. 1
1908.
Interest (rate not to exceed 6 % ) payable annually.
Maturity $500 yearly from 1912 to 1917 and $1,000 in
1918.
.
Spokane County School Districts, W a sh .— Bond Sale.—
On July 24 and 25 $10,000 school bonds and $4,000 school
bonds were awarded to the State of Washington at par.
The $10,000 issue was sold as 5s and the $4,000 issue as
5 y 2s. Date Aug. 1 1908. Interest annual.
Springfield, Ohio.— Bond Sale.— Of the eight issues of 5% .
improvement bonds offered on A u g. 11 and described in V.
87, p . 306, the following 1-5-year (serial) bonds were awarded
to the Citizens’ National Bank of Springfield as follows:
A ug. 15 1908. J
$5,880
2,425
7,1)06
1,080
10
50
70
70
T H E CHRONICLE
L im e s to n e S tree t b o n d s a t 1 0 1 . 1 7 .
G rand AVeilUc UOnds a t 101.18.
K en ton Street bon d s a t 1 01 .27.
W o o d la w n A v e n u e b o n d s a t 101 .38.
435
County
rpiSw? Zerland
(p - O. V e v a y ), In d .— Bond Sale.—
ihe $4,336 4 H % York Township free-gravel-road bonds
ottered without success on June 27 (V . 87, p . 56) have been
The following 1-10-year
serial bonds were] sold to sold to the Vevay Deposit Bank of Vevay at par.
Seasongood & Mayer of Cincinnati:
Syracuse, N . Y . — Bond Offering.— Proposals will be re
$2,578 80 Cen ter S treet b on d s a t 102.24.
0,0 5 7 80 P leasan t S treet b o n d s a t 103.81
ceived until 1 p. m . Aug. 26 by R . J. Shanahan, City Comp1,723 70 Fisher S treet b on d s at 102 .95. '
v5°™ r’ for
4 ^ % registered water bonds. Author
The $3,627 10 5 % 1-5-year (serial) Burt Street improve ity Chapters 473 and 631, Laws of 1906, and the acts amendament bonds offered on the same day were bought by W . II.
and supplementary thereto. Denominations:
Schaui of Springfield at 100.60.
S I,000, $2,500 and $5,000. Date July 1 1908. Interest
Bond Offering. Proposals will be received until 8 p. m . semi-annually at the office of the Columbia Trust Co. in New
A USky W m . II. Mahoney, Clerk of the City Council, for
looa • lV ' • Maturity « 5 , 0 0 0 yearly on July 1 from 1909 to
♦
')0//° couPon improvement assessment bonds:
, in?Iasive- Securities are exem pt from taxation and
$2,698 55 1-5 -y e a r (serial) K arr S treet b o n d s
will be delivered on Sept. 9 1908.
Purchaser to pay accrued
2.000 08 1 -5 -yea r (serial) M u lberry S treet b o n d s.
'.;7, W
(serial) b o n d s fo r p a v in g the first a lle y w est o f P lu m St.
interest. Bid must be unconditional, made on a printed
2J*®04 39 1-1 0 -yea r (scrla) F o u n ta in A v e n u e b o n d s.
form furnished by the City Comptroller, and accompanied
7)^ 1-5 -y e a r (serial) F o u n tain A v e n u e b o n d s.
J . ', , , ,
l-o - y e a r (serial) b o n d s fo r p a v in g the flsst alle y w est o f L o w r y A v .
by a certified check for 2 % of bonds bid for, made payable
J&3 Lhe above bonds are dated July 9 1908. Interest semi
o
. J. Shanahan, City Comptroller. The legality of this
annually at the City Treasurer’s office. Certified check for issue has been approved by Storey, Thorndike, Palmer &
5 /o of bonds bid for is required. Delivery of bonds within lhayer, of Boston, whose opinion will be delivered to the
, y s froin date of sale. Bonds are free from all taxes. successful bidder. The Columbia Trust Co. of New York
Official circular states there has never been any default in City will certify to the genuineness of the issue.
the payment of principal or interest.
Tarentum, Allegheny County, Pa .— Bonds Not to be Issued
Bond Election.— A proposition to issue $225,000 bonds
for the purchase of lands for a park'system will be decided at I resent.— No action will be taken looking towards the
^vU Q7Ce o f ra\ S1P.?’2 ° ° water-works bonds voted on June 16
upon at an election to be held Oct. 24.
until September,when the court will consider
Streetsville, Peel County, O nt.— Debenture Sale.— A n V * 8 7 ’ .Pissue of $7,500 5 % electric-light debentures was recently the petition of the local water company for an injunction.
sold to W . A . Mackenzie & Co. of Toronto. Maturity part
yearly for thirty years.
Sullivan County (P. O. Blountville), Tenn.— Price Paid
for Bonds.— W e are advised that the price paid by the Harris
Trust & Savings Bank of Chicago for the $100,000 5 % 23year (average) coupon macadam road bonds sold to that
institution on Aug. 3 (V . 87, p.369) was 105.150. This is
on a basis of about 4 .6 3 4 % . Some of the bids received were
as follows:
H arris T r . & S a v . lilt., C h ic .$10 5,15 0 A . J. H o o d & C o ., D e t r o i t - -$ 1 0 3 ,0 0 0
In tersta te B a n k in g & T ru st
B u m p u s-S te v e n s C o ., D e t - - 103,000
C o ., N ew O rlea n s ------------ 105,125 L . H . H ollins & S on s, C h ic . 102, >00
W ell, R oth
C o ., C lu c ln . . . 103.050
A number of lower bids were also received
Texhoma Texas County, O kla.— Bonds Voted.— Reports
state that school bonds were recently voted.
Trenton, N. J .— Bonds Authorized.— The Mayor on Aug. 4
approved an ordinance providing for the issuance of $46,300
coupon or registered street-improvement-assessment bonds.
Denomination $100 or multiples thereof. Interest (rate not
to exceed 4 j/£ % ) payable semi-annually at the City Treasur
er s office. Maturity ten years.
Uhrichsville, Ohio.— Bond Sale.— On Aug. 8 $6,500
25-year street-improvement bonds were awarded to the
1 rovident .Savings Bank & Trust Co. of Cincinnati at 106.36
a basis of about 4 .0 9 2 % . Following are the bids:
N E W LOANS.
N E W LOANS.
Proposals for $1,000,000 of Baltimore City Stock
n n n i . n < ! A T « A I l I I f I O R E ' J U L Y 1®- 1908rw fiU O J.i? t,L n vi 11. be received at the M a y o r’ s
O ffic e , C ity H a ll, B a ltim ore, M d ., until 12 o ’ clo c k
S °r?S r.S ti i w 0 :S P Ai X ’ A u &ust 1 7 ■ 1908, fo r the
P O R C H A S E IN W H O L E O H IN P A R T O F
$1,000 000 00 O F T H E
NEW
SEW ERAGE
L O A N , red eem a b le on th e first d a y o f O cto b e r , In
th e y ea r 1980, and bearin g Interest at th e rate o f
three and on e -h a lf per cen tu m per a n n u m , p a y
ab le s em i-an n u ally o n the first d a y o f A p ril and
O cto b e r In each and e v e r y y e a r. T h e Interest w ill
c o m m e n ce A p ril 1, 1908.
T ills s to c k Is Issued In p ursuan ce o f an A c t o f the
G eneral A s s em b ly o f M aryland passed at Its J a n u
ary Session In the year 1904, C h apter 349 , and b y
v irtu e o f O rd ina nce N o. 227, o f the M a y o r and C ity
C ou n cil o f B a ltim ore, a p p ro v e d M arch 20, 1905,
w h ich p rov id ed fo r the "Issu an ce o f the sto ck o f the
M ayor and C ity C ou ncil o f B a ltim ore fo r a sum not
e x c e e d in g $10 ,0 0 0 ,0 0 0 00 fo r the p u rp o se o f p r o
v id in g m o n e y fo r th e p r o je c tio n , c o n s tru ctio n and
esta b lish m en t o f a N ew Sew erage S y ste m fo r the
C ity o f B a ltim o re ,” w h ich ord in a n ce w as ratified
b y the legal v oters o f the C ity o f B a ltim ore at the
m u n icipa l election h e ld fM a y 2, 1905.
® B,’- aers are a dvised th at u n d er the o rd in a n ce
certifica tes o f loan w ill be Issued In such a m o u n ts as
the len der m ay requ ire In the sum s o f o n e hundred
d olla rs and Its equa l m u ltiples th e re o f In registered
fo rm o n ly .
P rop osa ls m ust be m ad e u p o n th e p rescribed
fo rm o f b lan k s, w h ich m a y be o b ta in e d u p o n a p
p lica tion at th e o ffic e o f the C ity R e g ister.
N o bid will be con sidered unless a cco m p a n ie d b y
a certified ch eck u p on a C learin g-H ou se Bank
d raw n to th e o rd e r o f the M ayor and C ity C ou ncil
o t B a ltim ore, o r a certifica te o f d e p o sit oit a Clear
in g -H o u s e B a n k ,o r c a s h ,fo r 2 % o f the a m o u n t o f
th e loan fo r w h ich bid Is m a d e .
C h eck s, certificates o f d e p o s it o r cash a c c o m
p a n y in g bids n o t acce p te d w ill be returned to the
bidders w ith in 48 hours a fte r the o p e n in g o f th e
b id s.
D e p o sits o f successful bidders w ill be a p
plied in partial p a y m e n t o f the a m o u n t o f the loan
aw arded th e m . Sh ou ld there be m ore th an o n e
p ro p o s a l at th e sam e p rice , a p ro rata aw ard m a y
S e ttle m e n t In full fo r th e loan aw arded m u st be
m ad e w ith the C ity R e g iste r o n A u g u st 21 1908
o n w h ich d a y th e ce rtifica te s w ill be r e a d y fo r
d e liv e ry .
„ „ T h,e ,c i t y d o e s n o t ta x a n y o f Its Issues o f s to c k ,
and takes the p la ce o f the h o ld e r o f this Issue In
th ®, P a y m e ? 4 o f the ann ual S ta te ta x th e re o n , fo r
w h ich the h o ld e r Is le ga lly liab le.
.
h 'd s m ust be m a d e at a “ p rice and accru ed
Interest,
and n o bid fo r " a ll o r n o n e ” w ill be
r e c e iv e d .
P ro p o s a ls m u st be sealed and addressed t o the
I resident o f th e B oa rd o f C om m issioners o f
h ln a n c e . C ity H a ll,” and m arked “ P r o p o sa ls fo r
B a ltim ore C ity S t o c k .”
. T h e address o f e a ch b id d e r should a c c o m p a n y
the b id , and n o tifica tio n o f a c c e p ta n c e o f a n y bid
w in be considered a cco m p lish e d w hen m ailed In
the B a ltim ore P o st O ffice .
1 ea ln
T h e C om m issioners o f F in an ce reserve to th e m
selves th e a b so lu te rig h t, In their d iscre tio n to
o r all a p p lica tio n s , and also to allot
sm aller a m o u n ts than applied fo r.
„
,
J O H N M. L I T T I G ,
P residen t B oard o f C om m issioners
rc, . . _ „
o f Finan ce fo r B a ltim ore C ity.
IS A A C L . N E W M A N . Clerk.
y
Blodgct, Merritt & Co.
E. M. F a r n s w o r t h & Co.
BANKERS,
60
State Street, Boston
INVESTM ENT BONDS
341 N A SSAU S T R E E T , N E W Y O R K
STATE, CITY A RAILROAD BONDS
MacDonald, McCoy & Co.,
M U N IC IP A L
AN N
CO RPO RATIO N
BONDS.
x8i La Salle Street, Chicago
E s ta b lis h e d I M i .
H. C. Speer & Sons Co.
Fi rst Nat. B ank Bui l di ng, Chicago
CITY COUNTY
A N D T O W N S H IP
R A M
W
H
a
24
M ILK S T R E E T , B O S T O N
b l a c k s t a f f
& CO.
IN V E S T M E N T S
1883 Walnut Street
P H ILA D RLPHLA
LISTOFSPECIALTIESONBEQUEST
O T T O JU LIU S M ER KEL
BROKER
44 AND 46 W ALL ST., NEW
YORK.
INVESTMENT SECURITIES.
C orrespond ence Invlt.ri
# 0 0 , 0 0 0
Bergen
County,
N. J .
ROAD IMPROVEMENT BONDS.
N O T IC E IS H E R E B Y G I V E N th a t th e F i
n an ce C o m m itte e o f th e B oa rd o f C h osen F ree
h olders o f th e C o u n ty o f B ergen w ill r e celv s
sealed pro p o sa ls at the o ffic e o f the Clerk o f said
B oa rd o f C hosen F reeh old ers, at th e C ou rt H o u se.
. r .J w ic k c n s a c k, N ew J ersey, o n T U E S D A Y
E I G H T E E N T H , N IN E T E E N H U N
D R E D A N I? e i g h t , a t t w o o ’c l o c k i n
T H E A F T E R N O O N , fo r an Issue o f c o u p o n
R o a d Im p r o v e m e n t” B o n d s, fo r the p erm an en t
Im p rovem en t o f the P a terson P lan k R o a d . In th e
sum o f N in e ty T h o u sa n d ($90,000) D o lla rs, to be
Issued u nd er an A c t o f th e L egislatu re o f N ew
Je rse y , e n title d " A n A c t to p r o v id e fo r th e p er
m an en t Im p rovem en t o f p u b lic road s In this
S tate (R e v is io n 1 9 0 5 ),” a p p ro v e d M arch 27, 1905
and the su pplem en ts and am e n d m e n ts th e r e t o said b o n d s to bear d ate S e p te m b e r F irst, N in eteen
H u n dred and E ig h t; to be o f the d e n o m in a tio n o f
O ne T h o u sa n d ($1,000) D o lla rs e a ch ; bear Interest
a t the rate o f F iv e (5) per cen t per a n n u m , p a y
able s em i-an n u ally o n th e F irst d a y s o f S e p te m b er
and *M* arch,
yea . th e p rin cip a l th e reof
........
nnH
• " '* '
“ea ch
p a y a b le as fo llo w s
2 b o n d s o f $1 )00 each S e p te m b e r 1, 1 9 1 5
4
“
“
1, 1016
4
1, 1917
4
1, 1918
4
1, 1919
4
1, 1920
4
1, 1021
4
1. 1022
4
1. 1923
4
1, 1924
4
1, 1925
4
1, 1926
1, 1927
1, 1928
1929
1930
1. 1931
1, 1932
1. 1933
1. 1934
1, 1935
1, 1936
1. 1937
A ll b id s shall p r o v id e fo r th e p a y m e n t o f a c
S
Interest fro m d a te o f b o n d s (S e p te m b e r 1.
1908) to d a te o f d e liv e ry o f b o n d s.
E a ch b id shall be a c co m p a n ie d b y a certified
c h e ck u p on a N a tion a l B a n k to th e o r d e r o f th e
C o u n ty C o lle cto r o f B ergen C o u n t y .” ln th e
sum o f T w o T h o u sa n d ($2,000) D o lla rs.
T h e b o n d s w ill b e e n g ra v e d an d certified to as
t o g e n u in en ess b y the C o lu m b ia T r u s t C o m p a n y .
N ew Y o r k C h y .
T h e C o m m itte e reserves the rig h t t o r e je c t a n y
o r all bid s.
D a te d A u g u s t 3, 1908.
A . E. SA G E .
Wa l t e r Ch r is t ie ,
LOUIS s. COE,
F in a n ce C o m m itte e B oa rd o f Chosen
F reeh olders o f B ergen C o u n ty .
w il l ia m h . t a y l o r , cierk.
P r o v id e n t S a v in g s B a n k &
N k T ru stC o C in cin n a ti - - - $ 6,9 1 3
B reed & H a rris on , C ln cln _ 6,8 5 7
F ield L o n g s tr e t h & C o ., C ln. 0,8 4 7
W e ll R o t h & C o ., C ln cln . 6 ,8 3 5
F lr s t N a t. B a n k , C lev ela n d 0,8 1 9
S e a s o n g o o d & M a yer, C in e . 6,8 5
C E D en ison & C o ., C le v e . 6,7 6 2
O tis & H o u g h , C le v e la n d -. 6,729
|R. K le y b o lt e C o ., I n c ., C ln .$ 6 ,7 0 5 00
40 1W estern G erm an B a n k , C ln. 0,70 0 i
50 |H a y d e n , M iller & C o. 6 le v . 6 ,6 7 ' 00
00 1A . K le y b o lt e & C o . , C l n — 6,6 3 0 00
00 |New F irst N a t. B k ., C o l . - 6,619 00
00 ISecurtty S av in gs B a n k &
75 | T ru s t C o ., T o l e d o ------------ 6,600 75
00 IW . R . T o d d & C o ., C ln ------ 6,530 00
00 1W . J . H a yes & S o n s, C l e v - - 6 ,5 1 1 0 0
jgfAll bidders offered accrued interest in addition to their
bids. Denomination $500. Date July 1 1908. Interest
annual.
Upland, Cal.—-Bond Offering.-—Further details are at
hand relative to the offering on Aug. 17 of the $50,000 5 %
gold coupon street-improvement bonds mentioned in V. 87,
E. 370. Proposals will be received until 2 p. m . on that day
y R . C. Norton, City Clerk. Authority Municipal Act of
February 25 1901. Denomination $625. Date June 1 1908.
Interest semi-annually at City Treasurer's Office. Bonds
are tax-exem pt. Maturity $1,250 yearly on June 1 from
1909 to 1948 inclusive. Certified check for 3 % of bonds bid
for, payable to the City Clerk is required. Thiscity hasno
debt at present. Assessed valuation for 1908 $629,915.
Urbana, Middlesex County, V a .— No Action Yet Taken.—
On Aug. 10 a letter was received from the Town Clerk ad
vising us that no action had yet been taken looking towards
the issuance of the $8,000 water and sewer bonds recently
voted. See V . 87, p. 56.
Vancouver, B. C .—•Debentures Voted and Defeated.—'An
election held Aug. 1 resulted as follows:
$ 1 8 5 , 0 0 0 deben tu res tor Im p ro v in g sch o o ls a n d s ch o o l g ro u n d s carried b y
400 ,0 0 0
18,000
133,500
a v o te o f 352 to 164.
. ,
.
.
w ater-w ork s d eb en tu res ca rrie d b y a v o te or 374 to l o t .
fire-hall d eb en tu res ca rrie d b y a v o t e o f 342 to 162.
d eben tu res for the p u rch a s e o f la n d fo r the p u rp o se o f a p u b lic
d eep -w a ter w harf a n d a p p ro a ch e s, w as d e fe a te d .
The above debentures carry semi-annual interest at the
rate of 4 % , are dated Aug. 15 1908 and mature Aug. 15 1948.
(^Vermillion, Clay County, S. D — Bond Offering.— Further
details are at hand relative to the offering on Aug. 17 of the
$20,000
5 % opera-house and
auditorium-construction
bonds mentioned in V . 87, p. 244. Proposals for these
bonds will be received until 8 p. m . on that day by C. F .
Vincent, City Auditor. Denomination $500.
Date Oct.
1^1908. Interest annually at Vermillion. Maturity ten
N E W L O A N S , ____
C IT Y
FOUR
OF
PER
ST.
NSW L O A M .
P A U L Douglas County, Minnesota
CENT 30-YEAR
BONDS.
PARK
•
SEALED PROPOSALS
W ill b e receiv ed at th e o ffic e o f th e C ity C o m p
troller b y the S in k in g F u nd C o m m itte e until
12 O ’ C L O C K , N O O N , O N A U G U S T 20, 1908,
an d op e n e d at th a t t lm e .fo r t h e w h o le o r a n y part
o f $50 ,0 0 0 00 o f B on d s o f th e C ity o f S t. I aid.
T h ese b on d s are Issued fo r P a r k p u rp oses and
w ill be In c o u p o n fo rm . T h e y w ill b e Issued In
d e n o m in a tio n s o f $100 o r a n y m u ltiple th e r e o f,
n o t ex c e e d in g $ 1 ,000, as th e purch aser n ia y d e
sire, and shall bear Interest at th e rate o f F o u r
( 4 % ) p er cen t p er a n n u m , p a y a b le se m i-a n n u a lly ,
p rin cip a l and Interest p a y a b le a t the F in an cial
A g e n c y o f th e C ity o f S t. P a u l In th e C ity and
S ta te o f New Y o r k .
T h ese b o n d s arc a u th o rize d
b y O rd in a n ce N o . 2766, passed b y the C o m m o n
C ou n cil and a p p ro v e d J u ly 22, 1908, and b y C h ap
ter 93 o f the Law s o f M in nesota fo r th e y e a r 1907.
B on d s w ill be d a te d S e p te m b e r 1, 1908, and
m atu re A u g u s t 31, 1938.
A certltlcd ch eck pa y a b le t o th e C ity T reasu rer
o f the C ity o f S t. P aul fo r tw o (2 % ) p er ce n t o f
th e p a r va lu e o f th e b on d s bid fo r m u st a c c o m
p a n y ea ch b id th a t w ill be co n sid e re d .
B on d s to
b e deliv ered at the C om p tro lle r’ s o ffic e , w here
p a y m e n t m ust b e m ade.
T h e C om m ittee reserves th e right to r e je ct a n y
and all b id s. A ll c o u p o n b o n d s o f th e C ity o f
S t. P aul can be ex ch a n g ed fo r R eg iste re d B o n d s.
P r op osa ls t o be add ressed to
L O U IS B E T Z ,
C ity C o m p tro lle r.
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 i c i p a l,
County,
State ,
H ig h -G r a d e
years, $10,000 subject to call after five years. Bonds are
exempt from taxation. Certified check for $300, payable
to the City Auditor, is required. Assessed valuation $558,000.
Vinton, Benton County, Iow a.— Bond Sale.— W e are ad
vised that $20,000 5 % refunding bonds were recently sold.
W aco, McLennan County, T ex .— Bonds Voted.— In an
election held Aug. 5 the citizens voted in favor of an issue
of $10 000 levee-building bonds.
Wake Forest, No. Car.— Bond Offering.— Pi’oposals will
be received until 12 m . Sept. 1 by C. E . Gill, Clerk Board
of Town Commissioners, for $10,000 6 % municipal bonds.
Interest semi-annually. Maturity thirty years. Certified
check for $200 is required.
W altham , M a ss.— Temporary Loan.— On Aug. 13 a
$20,000 loan maturing in four and one-half months was
negotiated with Blake Bros. & Co. of Boston at 3 .5 9 %
discount.
Wapakoneta, Ohio.— Bonds to Be Offered Shortly.— Reports
state that during the month of August this village will offer
for sale an issue of 4 > £ % bonds maturing part yearly from
one to twenty years inclusive.
Washington, P a .— Bond Offering.— Proposals will be re
ceived until 5 p. m . Aug. 17 by G. P. Baker, Borough
Solicitor, for $30,000 4 % sewage-disposal-plant bonds. De
nomination $1,000. Date Sept. 1 1908. Interest semi
annual. Maturity $10,000 on Sept. 1 in each of the years
1934, 1935 and 1936. Certified check for 1 0 % of bonds bid
for, payable to J. V. Boyd, Borough Treasurer, is required.
Bonds are free from State tax.
Washington Township School District (P. O. Bristol), Ind.
— •Bond Offering.—'Proposals will be received until 1 p. m .
Sept. 12 by II. W . Kantz, Township Trustee, for $10,000 4 %
coupon refunding bonds. Authority Section 1, Chapter 3 1, Acts
of 1905. Denominations $100 and $500. Date Sept. 19 1908.
Interest semi-annually at the banking house of Thos. Hilbish in Bristol. Maturity $1,000 yearly on Sept. 19 from
1909 to 1918 inclusive. Bonds arc free from all taxes. Cer
tified check for 3 % , payable to the Township Trustee, is re
quired. Total debt, including this issue, $12,000. As
sessed valuation for 1908, $775,000.
$ 4 4 , 0 0 0
* * < 3 0 ,0 0 0
and
[VOL. LXXXVII.
T H E CHRONICLE
436
P u b lic
S e r v ic e
S e c u r it ie s
C orrespon d en ce S o licite d .
C uban Securities
DRAINAGE
BONDS
B ids are Invited fo r $44 000 dra in a ge b o n d s o f
D ou gla s C o u n ty , M in nesota, In sep arate Issues,
fo r d itch e s 10, 11, 13, 14 and 16, d e n o m in a tio n
$500, d a te d o n e x e c u tio n and d e liv e r y , due
A u g u s t 1st, 1918, w ith o u t o p tio n , b earin g 4 J ^ %
Interest pa y a b le se m i-an n u ally In February^ and
A u g u s t, a u th orized b y S ec. 18, C h ap. 230 G. L .
1905; p rin cip a l and Interest, fo r th e p a y m e n t o f
w h ich the w h o le c o u n ty Is s e c u r ity , pa y a b le In
curren t fu n d s a t a n y agreed ban k In th e U nited
'ce rtifie d c h e ck fo r $250, p a y a b le to the T reas
urer o f D ou gla s C o u n ty , M in nesota, requ ired w ith
ea ch bid .
Sale at A u d it o r ’ s o ffic e In A le x a n d r ia , M inne
s o ta , b e g in n in g 10 a. m . S eptem ber 1st, 1908,
and right to r e je ct a n y o r all bid s reserved.
F IN A N C IA L S T A T E M E N T .
18,780
P o p u la tio n , census o f 1905____________
P o p u la tio n , present e stim a te d ________
19,275
T o ta l d e b t , Inclu din g this Issue_______
$75,400
A ssessed v a lu e , 1908, equalized b y
_ .
C o u n ty B o a r d ------------------------------------- 5 ,249,150
A c t u a l v a lu e , e stim a te d b y S tate T a x
C o m m is s io n ____
- - — ____________ 13,452,000
E . P . W R I G H T , C o u n ty A u d it o r ,
A le x a n d r ia , M in n.
$ 3 , 2 8 0 , 0 0 0
San Francisco, California
N I W LOANS.
# 1 7 0 , 0 0 0
NORTHWEST SCHOOL DISTRICT
C i t y of H a r t f o r d , C o n n .
GOLD BONDS
P rop osa ls w ill b e re ce iv e d b y the N orth w est
S ch o o i D istrict o f th e C ity o f H a r tfo r d , C o n n ., fo r
the pu rch ase o f on e h u n d red s e v e n ty th o u sa n d
dollars ($170,000) or a n y p a rt o f S ch o o l G o ld
B on ds. S aid b o n d s bearin g Interest a t the rate
o f fo u r p e r ce n t per a n n u m , p a y a b le se m i-a n n u
ally M arch 1 a n d S e p te m b e r 1st, a t o ffic e o f th e
S e cu rity C o m p a n y , T reasu rer o f the D istrict, In
H a rtfo rd , C on n .
Said b o n d s b e in g a p a rt o f an
Issue o f tw o h u n d re d th o u sa n d dolla rs, au th o riz ed
b y A c t o f th e G eneral A s s e m b ly o f the S ta te of
C o n n e c tic u t, M arch 26, 1907, an d ce rtifie d as to
the le g a lity o f th e Issue b y a tto r n e y s G ross,
H y d e & S h ip m a n , o f H a rtfo rd .
T h e sale o f these b o n d s Is to p a y o ff all th e In
d ebted n ess o f said S ch o o l D istrict, w hich Is n o w In
d e m a n d n otes.
B o n d s be in g o f th e d e n o m in a
tio n o f on e th o u sa n d dolla rs, p a y a b le th irty years
fro m d a te , S e p te m b e r 1, 1908.
T h e p ro p o sa ls o ffe re d t o be n o t less th an par,
an d a c c r u e d Interest, t o d ate o f d e liv e ry o f b o n d s.
Bids to be sealed a n d add ressed to the D is trict
C o m m itte e o f the N orth w est S c h o o l, care o f
S e cu rity C o m p a n y , T reasu rer, H a r tfo r d , C o n n .,
n o t later than fo u r p . m . A u g u st 27, 1908, a t
w hich tim e all bills w ill be op e n e d .
T h e D istrict C o m m itte e reserves th e rig h t t o
r e je c t a n y or all b id s.
N o b id w ill be c o n s id e re d ,
unless a c c o m p a n ie d b y a certified c h e ck fo r tw o
per ce n t o f tile p ar v alu e o f th e b o n d s b id fo r .
C hecks t o b e retu rn ed a t o n c e if b id Is n o t
&CCCDted
’ R O B E R T L . R U S S E L L , C h airm an .
63 V in e S tre e t.
MUNICIPAL BON )S
Sealed b id s w ill b e received o n S e p te m b e r 8,
1908, fo r the purch ase o f M u n icipa l B o n d s o f the
C ity and C o u n ty o f San F ra n cis c o to th e a m o u n t
o f $ 3 ,280,000 .
C ertified c h e ck o f live per ce n t ( 5 % ) re q u ire d ,
b u t need n o t e x ce e d $10,000.
O p in ion o f D illon & H u b b a rd as t o le g a lity fu r
nished.
P resent d e b t o n ly $ 3 ,436,000 .
A ssessed v a lu ation $45 4 ,0 0 0 ,0 0 0 .
,
F o r form s o f proposals and circu lars g iv in g full
In fo rm a tio n , a p p ly t o D illon & H u b b a r d , A t t o r
n e y s , W estern U nion B u ild in g , N ew Y o r k C ity
o r to the undersigned.
JO H N E. B E H A N ,
Clerk o f th e B oard o f S u p erv isors,
San F r a n cis c o , C a liforn ia.
C IT Y A U D IT O R ’S O F F IC E ,
_
R ic h m o n d , V a ., J u ly 2 2 d , 1908.
N o tic e to
Investors
Is h e re b y g iv e n th a t under the a u th o r ity o f the
C o m m itte e on F in an ce I am p r e p a r e d t o sell
R eg iste re d F o u r P er C en t B on d s of th e C ity o f
R ic h m o n d , V irgin ia , m atu rin g J a n u a ry 1. 1941,
In m u ltip les o f O ne H u n d re d D o l l a r s , o v e r th e
c o u n te r o f the C ity A u d it o r , a t par a n d a ccru e d
E D W A R D J. W A R R E N ,
C ity A u d it o r .
A S P E C IA L T Y
FRANCKE, THOMPSON
ROBB M U N I C I P A L
l
M em bers N. T . S tock E x ch a n g e
43
E x c h a n g e Place
BONDS.
INVESTMENT BONDS.
LIST ON APPLICATION.
T s te p b s n o (414 H a n o v e r
B R A N C H OJfbTCB
B r i s t o l B u ild In *. 5 t h A t o . a n d
T e le p h o n e MBS B rya n t
P e r r y , C o ffin & B u r r ,
AND RAILROAD
SEASONGOOD k MATER,
4JJd B t .
M ercantile Library B u ild in g ,
C IN C IN N A T I.
60
S ta te
S treet,
BO STO N .
A ug. 15 1908. j
TH E CHRONICLE
Waterloo, Seneca County, N . Y — Bond Offering.—
Proposals will be received until 12 m . August 2G by John
Kropf, Village President, for $90,000 registered sewerconstruction bonds at not exceeding 5 % interest. Au
thority Section 129, Chapter 414, Laws of 1897. De
nomination $1,000. Date Sept. 1 1908. Interest July 1
at the Mercantile National Bank in New York City. Ma
turity $3,000 yearly on July 1 from 1909 to 1938 inclusive.
Certified check for 2 % of bid, payable to the Village Treas
urer, is required. Total debt at present $6,000. Assessed
valuation for 1908 $1,945,492.
Wayne School District (P. O. W ayn e), Wayne County,
Bond Offering.— Proposals will be received until
Sept. 1 by E . Hunter, Secretary Board of Education, for
$40,000 5 % school-building bonds voted (V . 87, p. 57) on
June 2. Denomination $500. Date July 1 1908. Interest
annually at the County Treasurer’s Office in W ayne. Ma
turity July 1 1928. Certified check for 1 % of bonds bid
for, payable to the Secretary of the Board of Education,
is required. This district has no debt at present. Assessed
valuation $450,443.85.
Westfield, N . Y . — Loan Authorized.— Reports state that
on Aug. 4 this village was authorized by a vote of 75 to 29
to borrow “ $5,000 to build sidewalks and crosswalks; $500
to purchase new fire hose for the fire department; $500 to
defray the expenses of making plans and specifications for
a sewer system and $1,250 to pay off outstanding amounts due
on sidewalk rebate certificates.”
W est Homestead, P a .— Bonds Not Sold.— No award was
made on Aug. 4 of the $1,500 fire-alarm-system and $23,500
funding
coupon bonds described in V. 87, p. 308.
Wetaskiwin, Alberta.— Debentures Voted.— On Aug. 3 a
proposition to issue clectric-light-plant-extension debentures
at not exceeding 6 % interest was favorably voted upon.
The vote was 25 to 1. Maturity twenty years.
Wilmington, No. Car — Loan Authorized.— On July 28
the Board of Audit and Finance authorized the city to borrow
$40,000 in anticipation of the collection of taxes.
W ilson, N . C.— Bond Offering.— Proposals will be re
ceived until 5 p. m . to-day (Aug. 15) by John3Y. Moore,
Mayor, for $15,000 5 % elcctric-light-improveinent bonds.
437
Denomination $1,000. Interest semi-annual. Maturity fif
teen years. Certified check for 5 % , payable to the Mayor,
is required.
Winchester, V a .— Bonds Not Yet Sold.— The Chairman of
the Iinance Committee writes us under date of Aug. 5 that
no award has yet been made of the $4,500 bonds— the unsold
P0^ 1.?11
^he issue of $10,000 4 % 10-year coupon school
budding bonds mentioned in V . 87, p. 58.
Woodland School District No. 102 (P . O. Woodland),
W ash.
Bond Election Proposed.— The District Clerk advises
us that while the report that $10,000 bonds had been voted
( V . 86, P -1 6 1 0 ) is incorrect, it is quite probable that an
election will be held in the near future to vote on that
amount of bonds for building purposes.
.
W yandot County (P. O. Upper Sandusky), Ohio .— Bond
Offering.— Proposals will be received until 12 m . Aug. 20
by J. N . Traxler, County Auditor, for $15,000 5 % Mifflin
Township road-improvement bonds. Authority an Act of
the General Assembly passed April 1 1900. Denomination
$200. Date July 1 1908. Interest semi-annually at the
County Treasurer’s office. Maturity $3,000 yearly on Jan. 1
from 1910 to 1914 inclusive. Certified check (or cash) for
$500, made payable to the County Auditor, is required.
Delivery within five days from date of sale.
Bond Offering.— Proposals will be received until 12 m .
Aug. 20 by J. N. Traxler, County Auditor, for $24,000 5 %
road-improvement bonds. Denomination $400. Date July
1 1908. Interest semi-annually at the office of the County
Treasurer. Maturity $4,800 yearly on Jan. 1 from 1910 to
1914 inclusive. Bonds will be delivered within five days
from date of sale. Currency or certified check for $500, pay
able to the County Auditor, must be deposited by each
bidder with the County Treasurer.
W ytheville, W ythe County, V a .— Bond Election.— An elec
tion will be held to-day (Aug. 15) to vote on the question of
issuing $10,000 street-repair bonds.
Xenia, Greene County, Ohio.— •Bonds Not to Be Offered
1 resent.— W e are informed that the $15,000 4 Yz% 1-15-year
(serial) fire-department bonds authorized by the City Coun
cil on March 6 (V . 87, p. 58) will not be issued at present.
at
M ISC ELLAN EO U S.
EN G IN EER S.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY, H.M.Byllesby & Co.
N ew Y o rk , Ja n u a ry 21st, 1088.
Incorporated
TheTrustees, inconformitywiththeChoanrte
m
nyb,er,su1007.
bmitthefollowingstatementof itsaffairs
threo31f th
steoC
foD
ecpeam
E N G IN E E R S
Prem ium s on M arine R is k s from 1st Jan uary, 1007, to 31st December, 1907___________83,440.427 06
.Premiums on Policies not m arked off 1st Jan uary, 1007_______________________________
690,719 3 3
Total M arine P re m iu m s______ _________________________________________________________ $4,131,146
P rem ium s m arked off from 1st Jan uary, 1007, to 31st December, 1007............... ......... $3 ,3 8 7 , 7 5 7 3 g
$348,234 3 7
Interest received d u rin g the ye ar_______________
R e n t less T axes and E x p e n se s____________________________J 124,035 70
$473,170 16
EXAMINATIONS and REPORTS
Losses paid d urin g the year w hich were estimated In 1906
and previous ye ars.......................... ......... ................ $007,375 70
Losses occurred, estimated and paid In 1007_______________ 1,400,091 49 $2,008,067 19
Less Salv a ge s.............................. $120,595 24
R e-Insurances................................. 802,387 66
d e s i g n . C ON STR U C T A N D O P E R
A T E R A IL W A Y , L IG H T , P O W E R .
H Y D R A U L IC A N D GAS P LA N TS
American
TruBt Building,
CHICAGO
O k la h o m a C ity , O k la h o m a .
428,082 90
San
M o b ile
A la ,
D i e g o , C a l.
$1,579,084 29
R e tu rn s of P re m iu m s___________________________________________________
Expenses, Including officers’ salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc______________________________________
ASSETS.
United States & State of New Y o rk
Stock, C ity, B a n k and other Se_ c u ritlc s .....................................$5,483,622 00
Special deposit* In B a n ks &TrustCos.
650,000 00
R eal Estate cor. W all
W llllam Sts.,
& Exchan ge P la c e .$4,200,000 0 0
O ther Real Estate &
claim s due the com
p l y ..................
75,000 00 4,374,000 00
&
Prem ium notes and B ills Receivable
Cash in the hands of European
B an ke rs to pay losses under pollctes payable In foreign countries.
C ash in B a n k ..............................
1 ,3 7 6 , 9 1 0 51
•
$ 4 2 071 io
’
$348,854 83
J . G. W H I T E
LIABILITIES.
E n g in e e r s,
Estim ated Losses and Losses U n
settled . . .
$2,658.166 00 43-49 Exchange Place, - N E W Y O R K
Prem ium s on U nlerm lnatcd R is k s .
743,389 01
In v estig a tion s
and
R eports
on
E lectric
Certificates of Profits and Interest
R a ilw a y ,
(la s,
E lectric
L ig h t a n d
Power
U npaid _______________________
268,528 76
Iransm ission
P ro p e rtie s fo r F in an cial
In
R eturn Prem ium s U n p a id ________
122,696 16
s
t
i
t
u
t
i
o
n
s
a
n
d
I
n
v
e
s
t
o
r
s
.
Certificates of Profits Ordered R e
deemed, W ithheld for U np aid
Electric Railways, Electric Light and
P r e m iu m s _____________________
22,3 34 55
Electric Power Plants Financed,
Certificates of Profits Outstand
ing-................................
R eal Estate Reserve
..........
F u n d . ______
7,412,630 00
270,000 00
185,005 17
595,353 43
Designed and Built.
London Correspondent:
J. G. W H IT E & C O ., Limited,
9 C loak
A ggre g a tin g--------------- ------------ $12,664,897 11
A ggre g a tin g ............................ $10,897,743 47
Pc,r cent Interest on the outstanding certificates of profits will be paid toth eh old crs
th*lr
representatives, on a n d after Tuesday the f o u r t h of F e b r u a r y next,
nr
r^.nrl2fn^rH,ftcates of tllc ‘S!U1fLct
will be redeemed and pakl to the holders thereof,
0r LcSt thereonP
wmeeenJiVC8mhn
a n d Iaftfte,r Tuesdayn fA
the fourth
of February next, from
which date
all
Uiereon
Will
cense.
p rv»rt
o f? tVin
Interest.thereon
certificates to bc“ p r o/ld11 uonR
c t "a
r h e ' t l S r . f ^ m ^ ’^- —Uj ^___^
e T i _^j :
A
I I ITwill
/ r cease.
--tw ' IT hhe
the
n»t earned prem ium s of the C o m p a n y for the jyear
y
ls d ' cl,arc(1 0,1a ln
c "!*c
ending 31*t December, 1907, for which, upon application, certificates will be Issued on and i t e r
Tuesday the fifth of May next.
r
B y„ o r d e r o f the B o a r d ,
0 . STANTON FLOYD-JONES. Secretary.
G U S T A V A M S IN C K ,
F R A N C I S M. B A C O N ,
J O H N N. B E A C H ,
W I L L I A M B. B O U L T O N ,
V E R N O N H. B R O W N ,
W A L D R O N P. B R O W N ,
J O S E P H H. C H A P M A N .
J O H N O L A F L IN ,
G E O R G E O. C L A R K ,
C L E V E L A N D H. D O D G E.
O O R N B L IU S E L D E R T ,
R IC H A R D H. E W A R T .
& CO.,
C o n tr a c to r s,
TRUSTEES.
H E R B E R T L . G R IG G S ,
C L E M E N T A . G R IS C O M ,
A N S O N W. H A R D ,
M O R R IS K. JB S U P ,
L E W IS C A SS L E D Y A R D ,
F R A N C IS H. L E G G E T T ,
C H A R L E S D. L E V B R IC II,
L E A N D E R N. L O V E L L .
G E O R G E H. M A C Y ,
C H A R L E S If. M A R S H A L L ,
W . H. H. M O O RE,
N IC H O L A S F P A L M E R .
H E N R Y P A R IS H ,
D A L L A S It. P R A T T ,
G E O R G E W. Q U IN T A R B ,
A. A. R A V E N ,
J O H N L R IK F . R .
DO U G LAS RO m N SON ,
G U ST A V H. SC H W A B ,
W IL L IA M SLO A N E,
IS A A C S T E R N ,
W IL L IA M A. ST R E E T .
President.Vice-President.
itVV
-1
1re
sid
icic
ee
-P
re
sid
ee
nn
t.t.
A. A. R A V E N ,
O O R N B L IU S E L D E R T ,
S A N F O R D E . C O B Ii, 2
C H A R L E S E . F A Y , 3d
L an e, C a n n o n S t., E . C .
Canadian Correspondents-.
C A N A D IA N W H IT E CO,, Limited,
M ontreal
P rin cipal P h ilip p in e O ffice, M a n ila , P . I.
STERN & SILVERMAN. I n c .
Engineers and Contractors
CONSTRUCTION OF R A IL R O A D S
In vestigation and reports on organization and
operation of existin g roads.
L a n d T itle B u ild in g ,
P H ILA D E LP H IA , PA
Estab lishe d 1893.
Established 1889.
A- L. R E G I S T E R & C O .
Successors
to
PEPPER
&
R EG ISTER
Engineers & General Contractors
•12 North Broad Street, • Philadelphia
[VOL. LXXXVII.
T H E CHRONICLE
438
Svust (Cnmpunus.
’g x n & t ( t i o m p K n U s .
UnltBl states H Cnpaigot KenTut
C h a r t e r e d 1 85 3
M a n h a tta n
4 5 a n d 4 7 W a l l St.-.
CAPITAL,
................................................................. 8 2 , 0 0 0 , 0 0 0 . 0 0
SURPLUS AND UNDIVIDED PROFITS,
■
$ 1 3 ,2 4 3 ,1 2 8 .3 5
T ru st
T h is C o m p a n y acts as E x e cu to r , A d m in is tra to r, G u ardian , T ru ste e , C o u rt D e p o s ita r y an d In
o th e r rec o g n ize d trust ca p a citie s.
It allow s Interest at cu rren t rates on deposits.
I t h o ld s , m anages an d Invests m o n e y , securities and o th er p r o p e r ty , real o r p e rso n a l, lo r estates,
c o r p o r a tio n s an d Individuals.
v
E D W A R D W
W IL LIA M M
W IL FR E D J
S H E L D O N . P residen t.
K I N O S L E Y , S econ d V ice-P res
W O R C E S T E R . A s s t. Secretary
T R U S T E E S .
C h a irm a n
JO H N A . S T E W A R T ,
W illia m H . M a cy J r .,
W illia m D . S loan e,
G u sta v H . S ch w a b ,
F ra n k L y m a n .
G eorge F . V le to r ,
Jam es S tillm a n ,
J o h n C ros b y B row n ,
W . B a y a r d C u ttin g ,
C harles S. S m ith .
W illia m R o c k e fe lle r ,
A le x a n d e r E . O rr,
C om pany
a
P
cO S ? V - B R O W N , V i c e - P r e s i d e n t .
r J f * n i ^ c c 1.A H E R N , S ecretary.
C H A R L E S A . E D W A R D S . 2 d A s s t. Secretary
of
the
Board
J o h n C laflln,
’
J o h n J. P h elps,
Joh n S. K e n n e d y ,
D . O . M ills,
L ew is Cass L e d y a r d ,
L y m a n J . G age.
P a y n e W h it n e y ,
E d w a r d W S h e ld o n ,
G h a u n ccy K e e p ,
G eorge L . R iv e s ,
A r th u r C .B la m e s .
20 Wall Street
Comer Nassau
NEW YORK
IllinoislVust&SaviiigsBaiik
C H IC A G O
C a p i t a l
a n d
S u r p l u s
1 3 , 2 0 0 , 0 0 0
Bowling Green Trust Co.
P a y s In te re st on T im e D e p o s its , C u rren t and R e s e r v e A c c o u n ts.
26 B ROADW AY, NEW YORK.
D e a l s in I n v e s t m e n t S e c u r i t i e s a n d F o r e i g n E x c h a n g e .
T ra n sa c ts
a
G en eral
T ru st
B u s in e s s .
r
O FFIC E R S:
E D W IN
CORRESPONDENCE
IN V IT E D
G O U L D ............................................ P r e s i d e n t
W IL LIA M
CHAS.
JOHN
H . T A Y L O R ................1 s t
P . A R M S T R O N G .............. 2 d
A . H I L T O N -------- 3d V . - P r e s . &
W IL L I AM
M.
THE
Treas.
L A W S .................................S e c r e t a r y
D IR E C T O R S :
T ru s t C om pany
o f A m e r ic a
37-43 WALLISTREET, NEW YORK.
C O L O N IA L B R A N C H :
222 B roa d w a y .
LO N DO N
05
G resh am
S t .,
O F F IC E :
London, E .
DIRECTORS
JOSEPH J. O’ DONOHUE Jr.
LOWELL M. PALMER
STEPHEN PEABODY
E. CLIFFORD POTTER
JOHN J. RI KE R
WM. F. SHEEHAN
GEOROE R. SHELDON
HENRY F. SHOEMAKER
JAMES W . TA PPI N
OA KL E IG H THORNE
.
ROBERT B. VAN CORTLANDT
W . K. V A N DE R BI LT Jr.
JOHN E. BORN E
_______ _
W IM. H . C H E S E B R O U G H
R IC H A R D D E L A F IE L D
A S H B E L P . F IT C H
ANSON R. FLO W E R
H . B. H O L LIN S
J A M E S S . K U H N ________
FRAN K R. LAW RENCE
CORD M EYER
SETH M . M IL L IK E N
RAN D AL M ORGAN
,
M O R G A N J. O ’BRIEN
V . - P r e s ’ t.
V . - P r e s ’ t.
Charles P . A r m s tr o n g ,
F ran k B ra ln a rd ,
H arry B ron n er,
F ran klin Q . B r o w n ,
R o b e r t C. C lo w ry ,
E d m u n d C . C o n v e rse ,
W m . N elson C ro m w e ll,
P . C. C o ste llo ,
G ren ville M. D o d g e ,
A . G o e p e l,
„
G eorge J . G o u ld ,
E d w in G o u ld ,
T
he
A
of
F ran k J . G o u ld ,
J o h n A . H ilto n ,
E d w a rd T . J e ffe r y ,
W in slow S . P ie rce ,
M o rto n F . P la n t,
D ic k S . R a m s a y ,
F red erick B . S c h e n c k ,
A n d re w S q u ire ,
W illia m H . T a y lo r ,
J o h n P . T ru e sd ell,
E . F . O. Y o u n g .
u d it
N
ew
O R G A N IZ E D
C ompany
Y
ork.
1897.
NEW YORK:
43 Cedar Streeet.
P H IL A D E L P H IA .
C H IC A G O
N E W E N G L A N D O F F IC E :
E a ston B ld g .. 15 State S t., BO STON .
F r i c k B g .P i t t s b u r g h .Pa. C andler B g .,A t la n t a .G a
W e refer you to
©orpxrratiotx ’^ n is t Co.
37
W a ll
S treet,
N ew
Y ork ,
for
in form ation
regardin g a n y point in vo lv ed in the o rg an iza tio n
E D W A R D T . P IC R IN E ,
P resident.
W IL L IA M A . N A SH ,
J O H N J. M I T C H E L L .
GEORGE W . YOUNG.
V ice-P resid en ts.
F . C. R I C H A R D S O N ,
S ecretary and T reasu rer.
T h is C o m p a n y A u d its and In vestig ates A c
c o u n ts an d m akes P h ysical E x a m in a tion s o t
P ro p e rtie s. Its C ertificates and R e p o rts are P re
p ared In b e h a lf o f M erch an ts, B ankers, C orp ora
tio n s , C o m m itte e s and o th e rs. In s trict c o n fid e n ce .
T h e C o m p a n y also devises and Installs M on ey
m ak in g S yste m s o f K e ep in g A c c o u n t s .
and ta x a tio n o f b u sin ess corporation s under the
1908
1850
la w s o f a n y o f the S ta te s or T erritories.
Wilkinson, Reckitt, Williams & Co.
C E R T IF IE D P U B LIC A C C O U N T A N T S
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issu es G uaran teed C on tracts
JOHN P. M U N N , M .D ., President
F in a n ce C o m m itte e
NEW YORK
CHICAG O
PHILADELPHIA
52 Broadway
Marquette Bid*.
Mutual Life Bid*.
L O N D O N ,E N G L A N D
Leadenhall Bld*s.
I AMES R. PLUM .....................................................Lea the*
C L A R E N C E H. K E L S E Y . Pres. Title G u a r .* Tr. Co.
W M . H . P O R T E R , Pres. Chemical National Bank
G o o d m e n , w h e th e r e x p e r ie n c e d In life Insuranoe
or n o t . m a y m ake d ir e ct c o n tr a c ts w ith this C om
p a n y fo r a lim ited te r rito r y If d e sire d , an d secu re
1 fo r th e m s e lv e s , In a d d itio n to llrst y e a r ’s c o m m ls sto n , arenew al Interest Insuring an In com e for th e
fu tu re .
A d dress th e C o m p a n y at Its H o m e O ffic e
i N o . 277 B r o a d w a y , N ew Y o r k C ity ,
•
@FedFRASER