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yominenrial

financial

IN C L U D IN G

Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)
VOL. 85.

SATURDAY, AUGUST 17 1907.

%\tt (&]xxonxtlz.

Week ending August 10.
1907.

Terms of Subscription— Payable in Advance
F o r O ne T e a r ......................................................................................... ................. $ 1 0 00
F o r S ix M o n t h s ..........................................................................................................
G 00
E u ro p e a n S u b s cr ip tio n (in c lu d in g p o s t a g e ).................................................. 13 0!)
E u ro p e a n S u b s crip tio n s ix m on th s (in c lu d in g p o s t a g e )..........................
7 50
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g p r s t a g e ) ................................£ 2 1 4 s .
S ix M o n th s S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e )........................ £ 1 1 1 s .
C anadian S u b s cr ip tio n (in c lu d in g p o s t a g e ) .................................................. $ 1 1 50
S u b scrip tio n in clu d es f o llo w in g S u p p lem en ts —
B ank a n d Q u o t a t io n (m o n th ly )
I S t a t e a n d C it y (sem i-a n n u a lly)
R a il w a y a n d I n d u s t k ia l (q u a rte rly ) |S t r e e t B a ll w a y (3 tim es y e a rly )

Terms of Advertising— Per Inch Space
T ra n sie n t m a tter p e r in c h sp ace (14 a g a te lin e s )...........................................
r T w o M on th s
(8 tim e s )................................
Mtin.liTia- R n sin ess Cards ' T h re e M on th s (13 t im e s ) .. ............................
S ta n d in g B u sin ess e a rn s < s i x M o n th s
(2 6 tim e s )............. .................
(. T w e lv e M o n th s (52 t im 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 rtle tt, 51 3 M o n a d n o ck B lo c k ; T e l. H a r ris o n 4012.
L O N D O N O F F I C E —E d w a rd s & S m ith , 1 D ra p e r s ’ G a rd en s, E. C.
W ltD A M
B . D A N A C O M P A N Y , P u b lis h e r s ,
P . O . B o x 9 5 8 . _____ P i n e S t . . C o r n e r o f P e a r t S t . .
N ew Y o r k .
P u b lis h e d e v e r y S a tu rd a y m o r n in g b y W I L L I A M B . D A N A C O M P A N Y .
■William B. D an a, P r e s id e n t; J a c o b S e ib e r t J r ., V ic e -P r e s . an d S e c.; A r n o ld
G. D an a, T rea s. A d d r e s se s ot all,,O ffice o f th e C om pa n y.

CLEARING HOUSE RE TU R N S .

The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$2,803 ,05 1,33 9, against $2,632,924,368 last week and
$3,312,610,664 the corresponding week last year.
Clearings— Returns by Telegraph
Week ending August 17.

Per
Cent.

1907.

1906.

New Y o r k _________________________
B o s t o n _____________ ______________
P h iladelph ia____ __________________
Baltim ore_____________ _____ ______
C h ic a g o ......... .......... .............................
St. L o u is __________________________
New O rleans____________________ ' ,

$1,409,968,500
131,214,128
118,452,437
23,594,641
191,149,277
53,044,522
*12,100,000

$1,392,889,169
120,563,782
110,339,709
20,208,366
200,475,629
47,292,747
11,920,365

+ 1.2
+ 8.8
+ 7.4
+ 16.8
— 4.7
+ 12.2
+ 1.5

Seven cities, 5 d a y s .......................
Other cities, 5 d a y s _______________

51,939.523,505
407,609,211

$1,903,689,766
345,461,298

+ 1.9
+ 18.0

T otal all cities, 5 d ays_____ _____
A ll cities, 1 d a y __________ ,__________

$2,347,132,716
455,918,623

$2,249,151,064
420,859,600

+ 4.4
+ 8.3

Total all cities for week__________

$2,803,051,339

$2,670,010,664

+ 5.0

♦Partly estimated.

The full details for the week covered by the above will be
given next Saturday. W e cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the la=t day of the week has
to be in all cases estimated, as we go to press Friday night.
W e present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, Aug. 10, and the results for the corresponding
week in 1906, 1905 and 1904 are also given. Contrasted with
the week of 1906 the total for the whole country shows a
gain of 2 .1 % .
Outside of New York the increase over
1906 is 9 .5 % .
Week ending August 10.

Clearings at—
1907.
New Y o r k ..........
P h iladelphia____
Pittsburgh______
B a ltim o re ______
B uffalo____ ____
W ashington
A lban y. . . .
.
Rochester
____
Scranton ______
S yracu se_______
Reading . _____
W ilm ington_____
Wilkes-Barre . Wheeling ______
E r i e ____________
B in gh am ton ____
C h e s te r___
G reensburg_____
F r a n k lin _______
H a rrisb u rg _____

1906.

1904.

1905.

%

$
$
$
1,602,251,179 1,638,231,280
— 2.2 1,365,940,678
119,751,751
121,486,495
— 1.4
110,355,309
48,311,581
44,950,585
+ 7.5
48,280,630
+ 7.4
26,215,434
24,410,838
21,213,108
8,399,561 + 12.7
9,496,303
7,253,157
6,081,012
5,106,551 + 19.1
4,470,260
— 4.9
5,596,860
5,887,092
3,711,796
3,301,612
2,998,578 + 10.1
2,057,458
2,236,243
1,600,000
1,693,738 + 3 2 .1
2,200,878
1,441,107 + 52.7
1,191,153
1,234,887
1,084,597
1,110,278 + 11.2
+ 4.3
973,449
1,131,408
1,084,233
1,137,715
1,042,209
+ 9.1
867,043
946,844
1.168,172 — 19.1
702,925
646,305
532,284 + 21.4
506,583
469,500
410,500
494,600
— 5.1
501,764
+ 6.5
471,033
444,377
450,000
431,001
395,632 + 13.7
264,376
282,676
— 6.5
296,719
949,242
873,446
+ 8.7

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

00

CM

CO

N

»o

00

— 1.511,572,390,743
1

$
992,146,392
83.698,493
39,715,069
18,464,915
6,122,194
3,425,773
3,169,245
2,478,877
1,428,986
1,056,923
1,049,894
953,327
728,026
694,471
498,730
410,500
321,390
344,560
186,763
»o

Total M id dle.. 1,833,174,894 1,862,060,388




Inc. or
Dec.

NO. 2199.

Clearings al-

PUBLISHED W EEKLY.

~

State and City Section (Seim -A nnual^)
Street Railway Section

1906.

$
S
Boston ................
139,172,622
128,792,48J
P rov id en ce_____
5 ,934.20C
7,116,801
3,431,0,SI
H a rtfo rd _______
3,365,55C
New H aven_____
2,243,792
2,072,803
P o r tla n d _______
2,125,000
1.893.66C
1,900,000
1,465,354
Springfield______
1,409,367
W orcester______
1,347,738
Fall R iv e r ______
936,548
681,031
574,774
New B edford____
641,812
551,146
L o w e ll__________
474,086
518,271
421,584
H olyoke_________
Total New Eng.
159,979,401
147,090,307
C h ica go _________
222,652,652
195,983,347
22,431.90C
Cincinnati______
25,142,150
C le v e la n d ______
15,904,2891
14,424.40C
14,792,240
D etroit__________
14,786,684
10,050,314
8,873.007
M ilw a u k ee _____
7,826,375
9,262,100
Indianapolis____
5,228,200
5,752,700
C o lu m b u s......... ..
3,720,88(1
T o le d o ....... ..........
4,578,361
2,379,105
P e o r fa __________
2,581,785
2,313,534
2,140,822
Grand Rapids___
D a y t o n ________
2.142.99S
1.676.43S
1,967,380
1,605,276
E v a n s v ille _____
956,874
1,045,728
K ala m a zoo_____
778,388
936,76!)
Springfield, 1 _ .
11
744,866
813,160
Fort W a y n e ____
561,793
552,407
R o c k f o r d ___
720,927
561,521
L exin g ton ____
676,841
550,025
Y ou n gstow n ____
684,850
584,105
A k r o n _______
568,553
434,133
South Bend___
423,912
405,822
C a n t o n ______
437,919
346,010
Q u in c y ______
345.455
496,708
Springfield, O .
417,879
337,128
Bloomington .
313,639
213,599
Jacksonville, 111 .
323,026
305,448
M an sfield ______
305,520
438,531
Decatur . . . .
178,196
300,000
J ack son _____
187.619
123,880
Ann A rbor___
T o t. Mid.West. 326,370,237 288,918,842
38,493,670
41,054,120
San Francisco___
10,452,249
11,107,492
Los Angeles. _
9,063,795
9,683,387
Seattle .........
5,212,955
6,860,457
P o r tla n d ____
4,426,940
6,129,641
Salt Lake C ity___
3,621,307
4.S03.758
T a co m a ________
3,572,133
5,744,664
Spokane________
3,412,571
2,461,185
Oakland________
720,764
932,795
Heleqa ............. ..
481,584
577,341
Fargo __________
421,030
560,000
Sioux F a lls _____
397,577
525,000
San Jose________
Total P a cific..
90,624,840
80,276,575
31,008,567
27,700,453
Kansas C it y ____
19,157,341
16,532,465
Minneapolis_____
8.889,070
O m a h a ________
10,242,935
8,450,562
7,142,330
St. Paul________
5,385,685
D enver__________
7,426,311
4,028,122
4,851,815
St. Joseph______
2,411,262
2,757,664
Des Moines_____
1,554,895
Sioux C ity______
1,751,426
1,364.887
W icd lta ________
1,325,811
1,033,368
1,132,740
L in c o ln ________
934,163
1,102,347
Topeka ________
776,543
1,057,075
D a v e n p o r t..____
721,378
565,924
Colorado Springs
428,017
566,061
Cedar Rapids___
498,341
P u e b l o ________
462,055
312,904
422,650
F r e m o n t_______
79,813,255
92,181,912
T ot. oth.W est.
48,075,903
52,322,749
St. Louis..............
13,692,964
New Orleans____
14,223,998
11,015,813
12,729,311
L o u is v ille ______
9,280,902
H o u s t o n _______
9,912,701
5,550,000
5,400,000
Richm ond _____
5,149,000
G a lveston ______
4,147,000
3,481,652
3.538,443
A tla n ta _________
2,939,162
M em phis..............
3,545,758
3,028,357
2,705,813
Savannah ______
3,321,960
3,951,301
Nashville ______
2,609,661
3,200,838
Fort W orth_____
2,130,152
2,464,683
N o rfo lk ________
1.880,536
2,136,75*
Birm ingham ____
1.232,459
1,406,463
J ack son v ille____
1,463,589
1,161,403
K n o x v ille ______
1,523,603
1,627,509
Mobile ..............
1,068,788
940,382
Augusta _______
932,000
938,003
C h a rle sto n _____
1,801,810
1,193,837
C h a tta n o o g a ___
1,110,429
961,311
Little R o c k _____
500,000
467,311
M a c o n ..................
506,993
310,000
Beaumont _____
130,593,084
Total Southern
120,988,267
Total all______ 2,632,924,368 2,579,147,634
Outside N. Y _ . 1,030,673,189 940,916,354
Canada-—
Montreal .............
28,593,037
29,773,076
Toronto ..............
20,116,083
19,304,171
11,200.410
8,864,953
W innipeg_______
2,603,735
Ottawa ................
3,235,940
2,812,247
Vancouver______
3,990,000
1.826,140
Q uebec..................
2,225.502
2,052,379
H a lifa x _________
2,006,894
1,281,507
H am ilton..............
1,610,852
1,288,373
St. John................
1,721,230
1,098.240
London _________
1,370,112
798,234
Victoria _______
1,221,510
991.678
C a lg a ry ------------726,954
E d m o n t o n _____
l ’,026',011
72,242,648
Total Canada .
80,966,386

Inc. or
D ec.

1905.

1904.

S
%
S
+ 8.1
131.147.68C
111,258,510
+ 19.1
6.345.80C
5,434,700
+ 2.C
2,633,18*
2,228,926
+ 8.2
2,266,321
1,855,410
1,630,798
+ 12.2
1,504,247
+ 2 9 .7 i
1,563.43!
1,331,632
1,393,631
+ 4.6
1.196,561
636,86?
+ 37.5
512,463
— 10.4
720,407
332,852
478,172
+ 16.2
446,607
+ 22.9
430,297
414,514
+ 8 .8 , 149,246,601
126,516,422
+ 13.6! 180,161,588
162,408,687
+ 12.1;
20.934.30C
25,692,500
+ 10.3
12.916.392
12,119,976
+ 0 .0 4
13,806.566
12,695,626
+ 13.3
8,460,773
8,896,588
+ 18.3
6,536,141
6,258,551
+ 10.0
4,896,900
4,360,200
+ 23.0
3,811.084
3,807,101
+ 8.5
2,754,184
2,455,790
+ 8.1
2,103,506
2,023,088
+ 27.8
1,435,670
1,435,045
+ 22.6
1,143,460
1,380,863
+ 9.3
798,432
713,618
+ 20.3
779,099
706,921
+ 9.2
903,310
+ 1.7
501,783
449,695
+ 28.3
496,384
532,210
+ 2 2 .9
479,240
391,027
+ 17.2
420,000
589,000
+ 31.0
394,877
— 4.3
464,290
506,827
+ 2 6 .6
308,469
398,635
+ 43.8
330,572
347,905
+ 2 4 .0
319,600
361,688
— 31.9
265,198
250,489
+ 5.8
291,823
193,303
+ 43.5
319,384
309,505
+ 68.4
211,657
175,612
+ 51.4
119,227
98,381
+ 13.0 266,146,328 249,836,421
+ 6.7
33,276,772
28,527,526
+ 6.3
9,700,000
6,420,732
+ 8.9
5,196,311
3,997,145
+ 31.6
4,123,061
3,454,855
+ 39.5
4,500,662
2,871,744
+ 32.6
2,989,320
1,828,760
+ 60.8
2,860,632
2,128,162
— 27.9
+ 2 9 .4
843,870
646,508
+ 19.9
500,272
578,123
+ 33.0
283,875
235,215
+ 32.0
+ 12.9
64,352,626
50,610,919
+ 11.9
23,597,132
22,891,163
+ 15.9
13,673,152
13,949,246
+ 15.2
8,197,868
6,387,230
+ 1 8 .3
6,014,861
5,589,369
+ 37.9
0,064,197
4,012,533
+ 20.4
4,071,797
4,687,120
+ 14.4
2,388,498
2,202,251
+ 12.7
1,395,126
1,055,415
— 2.9
969,597
1,021,204
— 8.8
+ 18.0
632,761
953,147
+ 3 6 .2
733,819
681,419
- 21.6
646,163
594,544
t-32.3
458,256
417,086
— 7.3
484,503
+ 35.1
222,825
226,109
+ 15.5
69,550,605
64,667,836
+ 8 .8
47,580,256
50,206,181
+ 3.9
13,635,434
10,831,638
+ 15.6
9,526,694
10,963,238
+ 6.8
4,720,362
5,587,107
— 2.7
3,573,617
4,250,000
— 19.5
3.404,500
4,369,000
+ 16.4
2,336,014
2,702,531
+ 20.6
3.385,615
3,772,510
— 10.7
2,686,514
3,005,942
+ 1S.9
2,618,317
2,806,209
1.523,187
+ 22.7
2,183,154
1,292,830
+ 15.7
1.554,791
1,088,357
+ 13.6
1,339,315
852,703
+ 14.1
1,227.781
1,130,626
+ 26.0
1,145.943
— 6.4
954,852
896,081
1,382,217
+ 13.6
795,221
802,626
— 0.6
960,874
761,643
+ 5 1 .0
860,842
926,014
+ 5 .1
345,372
292,123
+ 7.0
297.780
318,279
+ 63.5
111,727,834
103,166,516
+ 8 .0
+ 2.1 2,233,414,737 1,751,674,642
+ 9.5 867,774,059 759,528,250

______

+ 4.1
+ 4.2
+ 26.4
+ 2 4 .3
+ 41.9
+ 21.8
— 2.2
+ 25.7
+ 33.6
+ 24.8
+ 53.0
+ 48.1
+ 41.1
+ 12.1

23,477,113
16,355,733
6,362,417
1,904,973
1,664,920
1,736,211
1,775,000
1,138,646
1,139,155
919,217
608,132

20,980,761
15,004,775
5,580,687
2,338,043
11,366,780
1,738,269
1,806,125
891,371
1,091,498
942,673
569,707

57,081,517

52,319,689

370

THE CHRONICLE.
THE F I N A N C I A L S IT U A T IO N .

The telegraphic strike is the only wholly new inci­
dent of the week, and that can hardly be called abso­
lutely new, because it has been in the air, a menace,
for a considerable time. Its development has not had
any adverse influence on affairs worth noting. The
old sore, the Roosevelt panic, has continued to over­
shadow all other occurrences. Monday was thought
to be the darkest day, but later W ednesday touched
a “ lower deep.” It seemed on both days as if the
moment of greatest peril was about to be experienced.
The frenzied pursuit of capital, becoming more and
more intense as the months have gone b y, attended
with an increasing abuse of successful business men,
apparently because they have been successful, with
threats of the arrest of the most conspicuous of them,
finally ushered in a business situation at our chief
industrial centre full of forebodings.
The Attorney-General of the United States was in
the saddle, having been put in command, and for the
time being had become, or'had assumed to be, the head
and front of the Administration. He wears the name
and has the assurance of the “ First Consul” and has
seemed to be attempting b y bluster, by claims of
arbitrary power received from his chief, and by ridicule
of his poor victims, to introduce a kind of “ Continental
system ” here, as (if he thought the entire financial
classes in the United States were vulnerable to the
old starvation process of the first Bonaparte, capable
of being brought into subjection by an industrial
starvation process— that is, by. putting a stopper on
all business ventures. The truth is, what the A d­
ministration forces are striving to get into subjection,
are the money bags of the wealthy; but the more they
strive in that warfare, the farther removed outside
of their grasp are the accumulations they covet. All
they accomplish is receivers for the ( 1) oversanguine
and venturesome traders and (2) real distress for the
poor— the smaller dealers and the clerks who depend
upon their daily work for their daily bread, and the
poor widows and infants, and depositors in savings
banks, whose sole reliance is upon small fixed incomes
from securities, which those astute men are causing
to shrink as if the hand of death had struck them.
W ednesday the failure of one of the oversanguine and
venturesome concerns last referred to was announced
and passed under a receivership; hundreds more of
them— who happen to be at the time unduly extended
— are likely similarly to tread the path of insolvency
if a short stop is not put upon this reckless clawing of
the vital function out of the successful classes who
have made this nation what it is.

[V o l.

lxxxv

.

should pursue a more conservative policy, for the time
was rapidly approaching when the Bank of England
and the bullion market would be called upon to re­
spond to a demand from E gypt for gold incident to
the financing of the Egyptian cotton crop. Moreover,
the securities market at New Y ork was in such a de­
moralized condition that it seemed probable that
London could not fail to be greatly deranged thereby.
Under these circumstances, it appeared clear that the
protective measure of an advance in the official dis­
count rate should be prom ptly taken, and action im­
mediately followed. As the result, offerings of loan
bills, which early in the week had contributed, to­
gether with dear time money at this centre, to depress
exchange, became less liberal; sight drafts and cable
transfers responded to an urgent demand for remit­
tance, chiefly to pay for securities that had been sold
for London account, and the exchange market rose
sharply to figures very near to the New Y ork gold-ex­
port point, so that, were the Bank of France to offer
facilities therefor, it seemed likely that gold shipments
to Paris would soon be resumed.
An export of gold from New Y ork directly to Alex­
andria, E gypt, has been suggested as a possible event
in order to meet the urgent requirements of that coun­
try for the metal, and at the same time to avoid the
development of increased tension in London by gold
shipments to E gypt. Ordinarily, no such indirect
method for relieving the necessities of E gypt would be
adopted. N ow, however, London is peculiarly sensi­
tive to the withdrawals of gold therefrom for
any purpose.
W ith an offiicial discount rate o f
43^2% , and with
the prevalence of conditions
threatening a resort to further measures o f pro­
tection for the Bank’s stock of gold, the remit­
tance of the metal to E gypt, even though it were for
the adjustment of balances, should, it would seem,
be prevented if possible. The metal might be taken
from Paris, but, considering the fact that the Egyptian
situation indicated that gold would be later required
in greater volume to pay for cotton, an earlier remit­
tance seemed to be inadvisable; French bankers were
apparently willing to aid the movement of gold to
E gypt by establishing a credit at London against
which American shippers of the metal to Alexandria
might draw cables for reimbursement, and in this way
realize a profit on the transaction.
It has been often reported this week, though as yet
not confirmed, that Secretary Cortelyou has decided
to extend relief to the monetary situation through an
increase in deposits of public funds in the banks. In­
stead of devising a new plan for the extension of such
relief, the report says he will resort to the device which
was adopted b y Secretary Shaw last September, when,
it will be remembered, deposits to the amount of .30
millions were made in certain designated depositaries,
which deposits were secured by the pledge of municipal
and other bonds; the m oney was so held until July 10,
when it was recalled. The same report states that,
in effecting these deposits, Mr. Cortelyou will transfer
to local institutions customs collections that have been
received at the New Y ork Sub-Treasury, which forms
of deposits will be active, that is to say, subject to check
for Treasury disbursements as they may be required.

The advance by the Bank of England of its discount
rate from 4 % to 43^% has been clearly foreshadowed
in recent weeks by the gradually developing tension
in the unofficial rate of discount. The Bank had been
unable, because of the more or less active com peti­
tion by Continental institutions, to secure the sup­
plies of gold which came into the bullion market.
This com petition came from the Imperial Bank of
Germany and the smaller Western European banks,
which were seeking to reinforce their reserves. An­
other source of concern was the failure of the Bank to
The demoralization of the security markets is not
prevent a rapid expansion of discounts by private
London banks and bankers. It was urged that they confined to our Stock Exchange. A capital illustra­




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. 17 1907. J

THE CHRONICLE.

tion of the truth of this statement is found in the con­
spicuous failures of our municipalities to sell bonds of
the highest grade and of gilt-edge character. On Fri­
day of last week the City of Boston invited bids for
$3,924,000 of 4 % bonds, maturing in from fifteen to
forty years. It disposed of $100,000 at 101 and re­
ceived just one other bid for $ 100,000, which was re­
jected. On Monday of this week New York City
opened bids for $15,000,000 of 4 % bonds, all except
$2,000,000 of which run for fifty years. The city
placed only $2,713,485 of the am ount, but has through
the week succeeded in disposing of about $3,000,000
more to the Interborough Rapid Transit Co. and others,
who have taken the bonds in payment of moneys owing
to them by the city.
The most conspicuous instance of all, however, of
a failure to dispose of Government bonds is furnished
in the case of the State of New Y ork. The State had
only a trifling amount of bonds it wanted to dispose of
— only $60,000. The bonds were offered by the State
Water Supply Commission and were for the im prove­
ment of Canaseraga Creek in Livingston County.
The bonds bear interest at the rate of 4 % . They run
only for a short term, maturing in from 1913 to 1917,
and will be paid out of assessments upon the property
benefited. One would think that a small amount
of bonds of this description, issued under the authority
of the State and bearing 4 % interest, would be readily
taken up. The bonds, moreover, were extensively
advertised. The State received just one bid for a
$500 bond.
No doubt many doctrinaires will talk learnedly of
the “ strain on capital.” But the argument appears
absurd when applied to an insignificant offering of
$60,000. The truth is that what the com munity is
laboring under is not a “ strain upon c a p ita l/’ but a loss
of confidence, which has resulted in such a discredit
of security values that no one is willing to pay out
money even in the purchase of securities of the highest
character.
As we have pointed out on previous occasions, the
different departments and branches of the security
markets are sympathetic and act in unison. Loss of
confidence in one branch is sure to extend quickly to
other branches. Our State and national officials
thought their attacks on corporations could have no
influence outside of the securities emitted by such cor­
porations, railroad and industrial. Instead, they are
finding that the shrinkage in those is working corre­
sponding havoc in other branches of the security
markets, and particularly the municipal branch.
It should be remembered, moreover, that by
crippling the moneyed classes our public officials
have cut off a source of demand for public bond issues
which has always in the past been an important factor
in sustaining their value. Men of means have suffered
such tremendous losses through the shrinkage in securi­
ties of railroad and industrial corporations that they
are in no position now to bid for or to take up ‘new
municipal bonds. More than that, in order to protect
their corporation holdings, they have been obliged in
many cases to dispose of the municipal and Govern­
ment bonds they held, since these showed less serious
losses than the others. Thus there has been a glut
of old supplies at a time when the municipalities found
themselves under the necessity of indulging in further
extensive borrowing. Now the distrust and discredit




371

have extended so far that no one, apparently, seems
to w^ant security issues of any kind. Where and
when the whole matter is to end is beyond the ken o f
man.
In one of the numerous interviews given out to news­
paper reporters this week by Attorney-General Bona­
parte, Mr. Bonaparte makes the following declaration
and statement: “ There is no reason for any officer
of any corporation or enterprise whatsoever to appre­
hend trouble with this Department if he is quite sure
he has not violated the law .” This has a plausible
sound and seems assuring. The truth is, however,
that under the policy of prosecution, if not persepution,
now being pursued, no one, even though his conscience
be entirely clear, can be “ quite sure he has not vio­
lated the law .” That at any rate is the lesson which
the conviction and large fine imposed upon the Stan­
dard Oil Company teaches. The Oil Company, as
we showed last week, was convicted on a technicality.
It may have seriously offended in other cases; m ay
have had secret rebates and preferences; but in this
particular instance, its sole offence was that it shipped
oil at the figures given to it by the rate clerk of the
Chicago & Alton R R . Compamr. The rate schedule
it appeared had not been filed with the Inter-State
Commerce Commission at Washington, or at least had
not been filed in the proper way. The Court said the
Oil Company had no right to ship at these figures
unless it first satisfied itself that the rate schedule had
been placed on file and posted in the proper manner;
also that the question of motive or intent was imma­
terial .
Under such a ruling the predicament of the shipper
is a serious one;- it is no longer safe for him to accept a
rate quoted to him by the railroad, but he must take
pains first to see that the railroad has complied with
the law in the matter of filing its schedules. The
6-cent rate for oil which was condemned b y Judge
Landis was a rate which had been in force continuously
for fifteen years or more, was a rate that could have
been availed of by other shippers as well as the Oil
Company, and a rate which was in effect over two other
roads in addition to the Chicago & Alton itself.
It should be understood that there was no question
of rebates or concessions. There has been much talk
of the legal rate having been 18 cents when the Stand­
ard Oil Company paid only 6 cents. But this has refer­
ence simply to the fact that as the 6-cent or com m odity
rate was not on the official records, the general class
rate covering commodities not specifically enumerated
would have applied, and this was 18 cents.
But no one shipped at the 18-cent rate, and the Oil
Company gained no advantage whatever. Y et be­
cause of a technical omission for-w hich the Oil Com­
pany was not responsible, and in which it had no part,
it was fined $29,000,000. There was no object and
there could have been no motive in accepting an
illegal rate over the Alton, since the Oil Company
could have shipped at the same rate over the
other roads.
The seriously disquieting feature connected with
the affair is that if upon a technicality one large con­
cern can be mulcted in such an enormous sum, the same
rule will appty to other shippers who may have vio­
lated the law, no matter how innocently. Further­
more, as the railroads, even more than the shipper,

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THE CHRONICLE.

[V o l .

lxxxv

.

must be held guilty, they too can be fined, at the dis­ matter how profitable operations may be. The King
cretion of the judge, in equally heavy sums; and thus Philip Mills is a notable example of that conservatism,
the prospect is held out of railroads and other large but its stockholders received a stock dividend of 50%
concerns passing under the control of the courts for in the closing days of 1906, upon which they are now
the purpose of working out the penalties imposed realizing 1 ^ % quarterly. The Pocasset Manufactur­
upon them. This is what has made such a profound ing C o., another,corporation that has recently pursued
impression in the markets. And Mr.Bonaparte is not a conservative dividend policy, declared a 100%
altogether frank in his broad intimation that only stock dividend a few months ago and is now making
those who have violated the law (intentionally the the same ratio of return as on the smaller capital,
and the same is true of the Chace Mills and the Laurel
inference is) have any cause for concern.
Lake Mills. The stockholders of the Richard Borden
That the cotton-manufacturing industry has been Manufacturing Company and the Tecumseh Mills, in
sharing, and is continuing to share, in the unexampled addition to receiving 25% and 50% stock dividends,
prosperity of the country has been, with apparent respectively, are in receipt of a higher dividend rate.
good reason, frequently asserted, and our own investi­ Comparing the average dividend for the third quarter
gations have been of a strongly confirmatory character. of 1907 with results for corresponding periods back to
But the whole question is taken out of the realm of and including 1890, we ascertain that the best return
conjecture and placed upon the sure foundation of fact heretofore made was in .1893, when stockholders re­
by the published results of operations of the Fall River ceived 2 .01 % . On the other hand, they received but
mills. That manufacturing com munity has for years 0.48% in the third quarter of 1897 and the third quar­
been taken as the barometer of the cotton textile in­ ter of 1898 only a little more.
W ith each elapsed quarter of 1907 showing divi­
dustry in the United States, and we can recall no period
in recent times that, when operations were active and dends in excess of 2% , the exhibit for the nine months
profitable there, the industries of the country in general is naturally very favorable. As for the quarter, two
were not also profitable. There have been years, of mills have declared no dividends, but it is understood
course, when Fall River did poorly and elsewhere cot­ that they are rapidly overcoming the burden of debts
ton manufacturing did well, but that condition was due under which they have been struggling for some time.
to special causes, usually labor troubles affecting the They are expected not long hence to make some return
one centre. But when reports have indicated a satis­ to stockholders. Aside from those, and the few ultra­
factory state of operations at Fall R iver, it has been conservative corporations, all establishments have
taken to denote, and truly, a similar condition else­ made increased distributions, and some markedly so.
The combined average rate of dividend for the nine
where.
W e are led to refer to this subject at this juncture months has been 7 .2 7 % , which compares with 4.87%
after compiling the exhibit of dividends of Fall River in 1906 and but 2.13% in 1905— the lowest rate of dis­
cotton-manufacturing corporations for the third quar­ tribution of which we have any record. This indicates
ter and nine months of 1907. The exhibit is certainly a phenomenally rapid advance from a period of quite
a very satisfactory one, showing, as it does, a return for unsatisfactory financial returns to a very favorable
the three months of 2.70% on the outstanding capital era, and explains fully why the corporations made no
stock. And when we state that almost 2 millions of great objection to advancing the wage scale to a record
dollars of the present capitalization represents recent level. The present situation at Fall River cannot well
stock dividends, it becomes apparent that the actual be better set forth than in the words of one of our
raturn on the money invested has been nearly 3 % . most valued correspondents, who said: “ Mills have done
Furthermore, this 2.70% dividend is the largest quar­ splendidly the past twelve months, the only point of
terly distribution made since we began the compila­ interference being lack of help, which to a large extent
tion of these periodic returns. In 1893 stockholders has now been overcome. There are no stocks of goods
received more than 2% in each quarter except the last, here and none are likely for some m onths.” De­
and in the closing quarter of 1899 and the second peri­ tails of the dividends will be found on page 382.
ods of 1900 and 1902 2 % or better was paid. But in
The immigration figures for July, issued yesterday,
no three-months period since 1889 have those inter­
ested financially in the Fall River mills done as well furnish no evidence that the new law, which became
as in this third quarter of 1907. W e say in no three- effective the first of the month, has appreciably hin­
months period since 1889 solely because that year dered or checked the movement of aliens to these
(which, with 1888, was a time of large annual divi­ shores. For some little time there has been consider­
dends— 9.97% and 9.63% respectively) antedates the able discussion of various provisions of the new law,
period of our compiling of these quarterly returns. especially those applying to assisted laborers, and the
But if, in the absence of details, we take an average effect their strict construction would have upon the
— about 2 .50 % — as representing 1S89 and 1888, it tide of immigration. It was feared, of course, that
seems safe to assume that the current exhibit is the there would be a disposition on the part of the au­
thorities in whom power is vested to so construe some
record.
It is not to be inferred, moreover, that the individual of the provisions as to debar many desirable aliens.
dividends as declared represent fully the current earn­ But if this July report is a fair indication to go by,
ings of the mills, and therefore the extent to which those fears would seem to be groundless.
Those who have made any study of immigration into
distribution can be made. W ithout doubt surplus
funds are being added to more or less against a time of the United States know that the tide is strongest in
depression or necessity, and it is well known that in the spring, July showing a sharp drop from June in
some corporations a spirit of conservatism prevails the total of arrivals. That has been the case this
which holds dividends down to a moderate basis, no year, but the July 1907 aggregate exhibits a very




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. 17 1907. |

THE CHRONICLE.

satisfactory increase over the corresponding month of
1906, and, furthermore, there has been a smaller
number debarred in the month this year than a year
ago. This speaks well for the intelligence displayed
in the application of the new law. Through all ports
of entry the number of immigrants admitted in July
1907 was 97,132, which compares with 84,403 in 1906
and 76,060 in 1905. Going over the details of the
statement for July we find that the arrivals, as in all
recent months, have been largely from Austria-Hun­
gary, Italy and Russia, those three countries furnishing
65,261 of this year’s total. For the seven months of
the calendar year 1907 the aggregate immigration has
been 841,084 against 758,695 in the like period of 1906
and 695,000 for the seven months of 1905. Moreover,
it is interesting to note that this year’s seven months’
total gives a larger immigration than for the full year
1904. It is really marvelous, but indicative of the
activity and prosperity in the United States, how
quickly we can absorb and assimilate the great number
of aliens arriving, and still welcome more. Our great
need for hands on our farms and in our various
industries seems insatiable.
Within the short period of eight months the rail­
roads of the United States will have to divest them­
selves of their interests in mining and manufacturing
concerns, as the Hepburn Act prohibits them, after
May 1 1908, from transporting from one State -to an­
other any article or com m odity other than timber and
the manufactured products thereof, manufactured,
mined or produced by the railroads or under their
authority, except such articles or commodities as may
be necessary or intended for their own use in the con­
duct of their business as common carriers. The man­
agement of the Buffalo Rochester & Pittsburgh Rail­
road has pointed out the way to com ply with the Hep­
burn Act without depriving shareholders of a valuable
asset. The Mahoning Investment Company was or­
ganized and the coal lands of the railroad company
were transferred to the investment company for a
nominal consideration. Then the shares of the in­
vestment com pany were distributed among the stock­
holders of the railroad com pany, one share of Invest­
ment Company stock being given for every four shares
of the railroad. The Mahoning Investment Company
recently declared its first dividend of 2 % . Thus the
profits of mining coal went directly to the owners of
shares of the railroad com pany without passing
through the hands of the railroad.
The purpose of a carrier owning coal lands is to make
sure of obtaining the coal traffic. So long as the prin­
cipal owners of the Mahoning Investment Company
stock are the chief owners of the Buffalo Rochester
& Pittsburgh Railroad, traffic will continue in about
the same channel as before the separation, the rail­
road obtaining the bulk of the coal traffic from this
particular source. But in time the stock of the Invest­
ment Company is sure to pass into the hands of per­
sons who are not interested in the railroad, and then
the purpose of the Hepburn Act will be fulfilled in
letter and in spirit.
The Pennsylvania Railroad, either directly or
through its subsidiary corporation, the Pennsylvania
Company, owns a controlling interest in the Penns}rlvania Steel Company and the Cambria Steel Company,
which are numbered among the larger steel companies




373

remaining independent of the U. S. Steel Corpora­
tion. The Pennsylvania Steel Company has common
and preferred stock outstanding amounting to $27,250,000 and a funded debt of $16,150,000. It has an
extensive plant at Steelton, near Harrisburg, Pa.,
and another large plant at Sparrows Point, near
Baltimore, M d., the latter plant including shipbuilding
yards. Besides making steel rails and ships, the com ­
pany manufactures all sorts of structural steel shapes,
and it is a formidable com petitor of the American
Bridge Company in the erection of steel bridges.
Among the com pany’s assets are valuable deposits of
ore in Cuba. The Cambria Steel Company is a $45,000,000 corporation with a splendid plant at Johns­
town, Pa., in full view of passengers who pass that
point on the Pennsylvania Railroad. The plant in­
cludes many iron furnaces, steel furnaces, steel-rail
mills and car-building shops. Besides owning exten­
sive coal fields in Pennsylvania, this company possesses
valuable ore mines in Michigan and Minnesota. In
fact, it has a better control of raw materials needed
to supply its plants than perhaps any of the inde­
pendent steel companies. These steel stocks owned
by the Pennsylvania Railroad and its affiliated cor­
porations have a par value of about $40,000,000. In
addition, the railroad owns $2,000,000 of Susquehanna
Coal Company stock. Consequently, if the Pennsyl­
vania Railroad chooses to adopt the precedent set by
the Buffalo Rochester & Pittsburgh, it will be able to
form a holding company of considerable size and to
distribute some valuable shares to its own share­
holders as the steel companies named disburse annually
in dividends over $2,500,000.
• Except for an occasional activity in Cambria Steel
shares, there has been no indication that the Pennsyl­
vania Railroad has been selling any of its steel stocks
in the open market, and the probability is that it will
either form a holding company to take over these se­
curities or dispose of them in large blocks to a syndi­
cate of bankers. As the requirements of the railroad
for money are still great, it may be that the stocks will
be sold outright and the proceeds applied to construc­
tion account, and, considering market conditions, it is
not likely that such sales will be made in the open
market.
Reading’s situation is far more peculiar than that
of the Pennsylvania. The Reading Company is itself
a holding companj^ and as such it owns the stock of
the Philadelphia & Reading Railroad and that of the
Philadelphia & Reading Coal & Iron Company, the
last amounting to $79,165,000; and in addition the
Reading Company owns $1,000,000 of stock of the
Reading Iron Company and $283,000 of the Temple
Iron Company’s stock. It could thus transfer to
another corporation over $80,000,000 of stock and dis­
tribute the shares of stock of the new com pany to its
own shareholders. As the total capital stock of the
Reading Company is only $140,000,000, the distri­
bution, measured by par values, would be equal to
57% of the common and preferred stocks of the
Reading Company.
Operated in conjunction with the railroad, the R ead­
ing coal properties are of great value to the Reading
system, but standing alone their value is doubtful,
because, according to the present method of book­
keeping, the operation of the coal properties is more
apt to show a deficit than a surplus at the end of the

374

THE CHRONICLE.

year. For the fiscal year 1905-06, although the com ­
pany’s sales of anthracite amounted to $32,845,000,
the income account shows an actual loss of $130,745
for that year. No dividends are paid b y the Coal &
Iron Company to the Reading Company. The balance
sheet of the Coal & Iron Company shows assets amount­
ing to $93,241,000. If this eighty-million-dollar coal
com pany and the other anthracite coal companies
now controlled by other railroads were actually in
independent hands, the first step of the new owners
would be to advance the price of coal at the mines.
Under the present arrangement the owners are con­
tent not to make a direct profit on the coal at the mines,
but simply to make a profit by hauling the coal to
market. As long as the anthracite properties are con­
trolled in the interest of the anthracite carriers, this
condition is not likely to be changed, and hence the
value of the stock of a new' holding com pany whose
chief asset would be the Philadelphia & Reading Coal
& Iron Company shares would be entirely proble­
matical .
Other anthracite carriers, such as the Delaware
Lackawanna & Western, the Delaware & Hudson,
Lehigh Valley and Central Railroad of New Jersey,
are in a position very like that of the Reading. Each
of the anthracite carriers probably has some ground
upon which it could base a legal battle to resist the
enforcement of the separation clause of the Hepburn
A ct. The Delaware Lackawanna & Western, for
instance, claims charter rights secured to it by a very
old charter in which were incorporated some provisions
not customary now to include in such documents.
But the position of the carriers is not very unlike that
of the Southern Railway in North Carolina and Ala­
bama. While its right to do certain things was clearly
proven to the satisfaction of its officers, it was deemed
best to waive the right and com ply with the law. To
avoid a conflict with the Federal authorities, there­
fore, something is likely to be done b y the anthracite
carriers which will preserve peace; but the new stocks
which may be issued are not likely to be very valuable
for the reason that the companies may not be allowed
to earn dividends at present. That it is the intention
of the anthracite carriers to keep control of the anthra­
cite tonnage, no matter what form the process of segre­
gation may take, is indicated by the recent purchases
of additional coal lands by the Delaware & Hudson
and by the purchase of the New Y ork Ontario & West­
ern by the New Y ork New Haven & H artford.
As already stated above, the official rate of discount
of the Bank of England was advanced on Thursday of
this week to 4V^% from 4 % , at which it had been
maintained since April 25, when, it will be remem­
bered, it was reduced from 4)/£% to 4 % . W ith this
exception there was no change in official rates of dis­
count by any of the European banks. Compared with
last week unofficial or open market rates were % of
1% higher at London and }/£ of 1% at Paris, at Berlin
and at Frankfort. The effect in London of the
advance in the Bank discount rate was shown in further
liquidation of gilt-edged securities, including consols;
but there was a recovery later in the day, influenced by
a good Bank statement. At Berlin the tone was
heavy, though chiefly because of New Y ork advices
of depression in securities; the Paris market was closed
owing to the Church holiday. It may be observed




[V o l . iix x x v .

that the advance in the Bank of England rate had been
foreshadowed by the recent gradual marking up of
open market discounts by about ^ of 1% over the
official quotations, due largely to the policy of dis­
criminating in this way against American finance bills.
These, however, have been freely accepted, though it
was evident that such acceptances would result in the
creation of credits against which New Y ork bankers
might draw gold from London. It appears, therefore,
that the Bank, failing to induce the private bankers in
London to refrain from negotiating these bills, has
taken the precaution to advance its official rate, thus
correspondingly advancing open market discounts and
making more difficult the negotiation of American
finance bills, at the same time possibly contributing
to the attraction of gold which might otherwise be
diverted to other centres.
The statement of the New York Associated Banks
last week indicated the important loss of $5,312,100
cash, but, owing to the reduction of $5,599,450 in reeserv requirements, due to a decrease of $22,397,800 in
deposits, largely the result of a contraction of $16,497,400 in loans, the surplus reserve was augmented
$287,350, t o $7,760,550. The bank statement of this
week should reflect, among other items, the transfer,
through the Treasury, of $200,000 to New Orleans.
The feature of the market for money this week was
the urgent demand for time loans and the compara­
tively meagre offerings, which resulted in the advance
in rates for such loans to the highest figures of recent
years. There was much discrimination by lenders
against industrial collateral and also against railroad
and other stocks which failed prom ptly to react after
the depression therein, due to bearish attacks, indicat­
ing extensive liquidation of these properties by promin­
ent interests and also an absence of support to the
market. Some of the loaning institutions withheld
offerings of m oney, though rates therefor were unusu­
ally attractive, partly because of apprehension of
further depression in the market value of securities
as the result of the execution of drastic legislative
enactments and of threatened investigations by G ov­
ernment officials into the management of corporations
other than those which had been brought before the
courts. It was reported that Secretary Cortelyou
would intervene for the relief of the money market
by increasing public deposits in the national banks;
this report was, however, not confirmed, though it
was regarded as probable that such intervention would
not be long delayed, owing to the necessities of the
situation.
Money on call, representing bankers’ balances,
loaned at the Stock Exchange during the week at
5 % and at 234 % , averaging about 3 % ; banks and
trust companies loaned at 2)4 % as the minimum.
On Monday loans were at 5 % and at 2)^ % with the
bulk of the business at 3 )^ % . On Tuesday transac­
tions were at 4 ^ % and at 2)4 % with the majority
at 4% . On Wednesday loans were at 3 j^ % and at
2 K % with the bulk of the business at 2>£% . On
Thursday transactions were at 4 % and at 2 )^ % with
the m ajority at 3 % . On Friday loans were at 3 %
and at 2 )^ % with the bulk of the business at 3 % .
Time loans on good mixed Stock Exchange collateral
were 6@ 6^ % for sixty and 6)^ % for ninety days,
6) ^ @ 6% for four and 6 % @ 7 % for five to six months;

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. 17 1907.]

THE CHRONICLE.

375

contracts on industrial security were quoted at % ° f
1% higher than these rates. Commercial paper con­
tinues unchanged at the nominal quotations of 6 @ 63^ %
for sixty to ninety day endorsed bills receivable,
6@ 63^ % for prime and 6^2% and above for good four
to six months’ single names.

Monday there was a further decline, chiefly in long,
owing to high discounts in London, and this class
of exchange fell 30 points to 4 8240@ 4 8250; short was
unchanged and cables were 5 points lower at 4 8705
@ 4 8710. On Tuesday long declined 35 points to
4 8210@ 4 8215 while short rose 5 points to 4 8645@
4 8650 and cables 5 points to 4 8710@ 4 8715. On
The Bank of England rate of discount was, as above Wednesday the market was strong with long 10 points
noted, advanced on Thursday from 4 % , at which it higher at 4 8220@ 4 8225, short 25 points at 4 8670
had stood since April 25, to 4 j^ % . The cable reports @ 4 8675 and cables 40 points at 4 8750@ 4 8755. On
discounts of sixty to ninety-day bank bills in London Thursday long rose 55 points to 4 8275@ 4 83, short
4 % @ 5 % . The open market rate at Paris is 3 % @ 3 3 ^ % 25 points to 4 8685@ 4 8695 and cables 30 points to
and at Berlin and Frankfort it is 4 ^ % . According to 4 8775@ 4 8785. The market was strong on Friday
our special cable from London, the Bank of England at an advance of 15 points for short and for cables.
gained £792,413 bullion during the week and held
The following shows daily posted rates for sterling
£35,854,881 at the close of the week. Our correspond­ exchange by some of the leading drawers.
ent further advises us that the gain was due in nearly
F ri.,
M on ., Tues.,
W ed.,
Thwrs., F ri.,
equal measure to purchases in the open market and
Aug. 9 A ug. 12 Aug. 13 Aug. 14 Aug. 15 A ug. 16
160 days 4 84
84
83%
83%
83%
83%
receipts from the interior of Great Britain. The de­ Brown
Bros. & C o______ _-\Slght__ 4 87%
87%
87
87
87%
87%
84
84
f 60
84
84
83%
83%
tails of the movement into and out of the Bank were Baring o____________ (S igdays 4 87%
& C
h t.. 1
87%
87%
87%
87%
«7 %
160
4 84
84
84
84
83%
83%
as follows: Im ports, £433,000 (wholly bought in the Bank British e rica .. . -IS igdays 4 87%
h t. _
North A m
87%
87%
87%
87% ,
87%
84
84
(60 days 4 84
84
83%
83%
open market); exports, nil, and receipts of £359,000 Bank of
87%
87%
Montreal________ _ -t s ig h t ._ 4 87%
87%
87%
87%
Canadian Bank
84
84
f60 days 4 84
84
83% ■ ■83%
net from the interior of Great Britain.
87%
87%
87%
87%
87% .
of C o m m e r c e ___ . .( S i g h t .. 4 87%
The foreign exchange market was generally strong
this week, influenced by a good demand for remittance
and by a lighter supply of bills. Long sterling was
heavy until Wednesday because of higher discounts
in London; after the Bank rate was raised this class of
exchange recovered and there was also an im prove­
ment in sight, in response to an urgent inquiry, and
likewise in cables, though then the demand incident
to the bi-monthly settlement on the London Stock
Exchange had been satisfied. Bankers reported a
very small supply of com m odity bills; there were,
however, fairly large offerings of those against grain
at Baltimore and at the Gulf ports of New Orleans
and Galveston, but these seemed to be absorbed by
bankers at those centres, so that very few were for­
warded to this city. Long sterling was made availa­
ble for remittance through the exchange thereof for
sight at a price which would cover the cost of forward­
ing the long bills for acceptance and discount. The
free selling of stocks for London account caused a de­
mand for sight exchange for remittance much in ex­
cess of offerings, contributing to its strength. There
were reported to be quite large amounts of loan bills
drawn early in the week by bankers who were encour­
aged by the high rates ruling for ninety-day money,
and these drafts were prom ptly absorbed by remitters.
The drawers, in many cases, procured cover for such
bills through contracts for the delivery in November
of sight drafts, thus obtaining insurance against loss
resulting from any unexpected changes which might
occur in market conditions.
It is noteworthy that
on Friday sight exchange and cable transfers rose
to prices very close to the gold-export point, and it
was regarded as probable that if the Bank of France
should offer the inducement of advances on the metal
while it was in transit, shipments of gold hence to Paris
could soon be effected at a profit.
Nominal rates for sterling exchange were 4 8 3 ^
for sixty day and 4 87% for sight. On Saturday of
last week the market was heavy at a decline, compared
with the previous day, of 25 points for long to 4 827
@ 4 8280, of 20 points for short to 4 8640@ 4 8645
and of 15 points for cables to 4 8710@ 8 8715. On




H eidelbach, IckelI60 days
heimer & C o_____ -_ iSight. _
Lazard
160 days
. \S ig h t-_
F reres______
(60 days
Merchants’ Bank
o f Canada_______ . . “
(.Sight..

4
4
4
4
4
4

84
87%
84
87%
84
87%

84
87%
84
87%
84
87%

83%
87
83%
87
84
87%

83%
87
83% '
87
84
87%

83% ■
87%
83%
87%
83%
87%

83%
87%
83%
87%
83%
87%

The market closed on Friday at 4 8275@ 4 83 for
long, 4 8 7 @ 4 8710 for short and 4 8790@ 4 88 for
cables.
Commercial on banks 4 8240@ 4 8250 and
documents for payment 4 8 1 % @ 4 8 3 ^ . Cotton for
payment at 4 8 lM @ 4 82, cotton for acceptance 4 8240
@ 4 8250 and grain for payment 4 83J^@ 4 83}^.
The following gives the week’s movement of money
to and from the interior by the New Y ork banks.
Week ending August 16 1907

Received by
Shipped by
N . Y . Banks. N . Y . Banks.

N et Interior
Movement.

. - _________________________

$7,781,000
840,000

$6,830,000 Gain
570,000 Gain

Total gold and legal ten d ers..........

$8,621,000

$7,400,000 Gain $1,221,000

Gold

$951,000
270,000

With the Sub-Treasury operations the result is as
follows.
Week ending August 16 1907.
Banks’ Interior m ovem ent as a b o v e ..
Sub-Treasury operaiions___________
Total gold and legal tenders______

Into
Banks.

Out o]
Banks.

$8,621,000
25,500,000

$7,400,000' Gain $1,221,000
27,500,000 Loss
2,000,000

$34,121,000

N et Change in
Bank Holdings.

$34,900,000 Ix>ss

$779,000

The following table indicates the amount of bullion
in the principal European banks.
August 15 1907.

Aug. 16 1906.

Bank o]
Gold.

Silver.

£
E n g la n d .. 35 ,854,881
France _.;112 ,051,183 38,788.
Germ anva 34 853,000| 9,6t>7
Russia, d .1117 ,313,000. 6,904
Aus.-H.und 45 ,431,000 12,193
S p a in ____| 15 ,570,000i 25,607
Ita ly _____ 33 845,000
4,724
N eth T ds _j 5, 901,100 5,631
Nat.Belg.a; 3 211,333; 1,605
Sweden _ J 4 ,138,000

Total.
£
,854,881
,839,426
,520,000
,217,000
,624,000
,177,000
,569,100
532,300
,817,000
138,000;

Gold.
£
033,197
663,107
603.000
683.000
891.000
209.000
,712,000
519.000
,181,333
878.000

Silver.

42,556,811
10.500.00Q
5,934,000
12.359.000
24.626.000
3,887,8
5,728;i
1,590,667

Total.
£
37,033,197
159,219,918
46.103.000
116,617,000
,59,250.000
39.835.000
33,599,800
11,247,100
4.772.000
3.878.000

T o t. week!408,168,497'105,120,210 513,28S,707 404,372,637!l07,182,378*511,555,015
Prev .week;407,157,9011105,251,370 512,409,271 401,757,5651106,911,044 508,668,609

_________________ I ________[
_
________ j_________1 _________________
_

a The division (between gold and silver) given In our table o f coin and bullion
In the Bank o l G erm any and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither case is it claimed to be accurate, as those banks
m ake no distinction in their weekly returns, merely reporting the total gold and
silver; but we believe the division we make is a close approxim ation.
b The Austro-Hungarian Bank Statement Is now issued in Kronen and Heller
instead o f Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was b y considering the Gulden to have the value of 80 cents. As the Kronen
has really no greater value than 20 cents, our cable correspondent in London, in
order to reduce Kronen to Pounds, has altered the basis of conversion b y dividing
the am ount of Kronen b y 24 instead of 20.
d The total of gold in the Bank of Russia includes the balance held abroad—
that Is the am ount held for Russian account in other Continental banks. The
proportion so held and consequently duplicated in the above statement is about
one-quarter of the total.
_
______ a ,

376

THE CHRONICLE.

RESULTS OF TH E PEACE CONFERENCE.
The London "T im es” , reviewing the proceedings of
the Hague Conference, when it had become fairly
evident what points would be agreed upon, summed
up the situation as follows:
"M en of common sense who do not suffer their
judgment of the hard realities of international politics
to be blinded by their enthusiasms or their emotions,
have good reason to be gratified with the proceedings
of the second Hague Conference.”
W ith this view of the case we find ourselves in entire
agreement. It has been manifest, ever since this
Conference was called, and particularly since its mem­
bers assembled, that agreement was possible on only a
small number of the propositions which were to be
submitted to it. It would be easy to insist on the
large number of more or less beneficial propositions
which have failed of endorsement; the point of real
importance, however, is that something of genuine and
lasting value has been accomplished. People who had
expected— if there were any such people— that the
Hague Conference would in its first two or three
gatherings settle offhand all of the vexed and compli­
cated questions which have surrounded warfare during
a series of centuries, were allowing their own enthusi­
asm to carry them far beyond the actualities or the
probabilities of modern diplom acy. It must be re­
membered that no proposition of any sort for a reform
in existing procedure regarding declaration of war or
prosecution of war could be made which would not appar­
ently jeopardize the interests of one or more Powers.
When the project of an international conference of
this sort was first m ooted; practical statesmen, military
men and naval experts were flatly incredulous as to
the value of the entire experiment. To the great bulk
of such experts the idea of restricting the right of
making war in accordance with ordinary precedent
seemed absurd upon its face. Y et the Hague tribunal
has already imposed upon the nations much that would
have been regarded ten years ago as unattainable.
This it, accomplished through precisely the means
which have been employed in the present Conference—
namely, through submission, to accredited delegates of
all the Powers, of all propositions which could find
endorsement anywhere. It then became the duty of
the Conference to winnow from this mass of sugges­
tions the few on which the sentiments of the civilized
world sufficiently united to insure their enforcement
in modern warfare.
When the outlook for the present Conference was
discussed last April in a series of public meetings in
this city, Baron d ’ Estournelles, the French Ambassa­
dor, stated that in his judgment three results only of
the first importance could be expected at the Hague—
further development of arbitration facilities, a general
affiriiiation against increased armaments, and organi­
zation of the machinery of conciliation. Of these
three topics, two have been or are being effectively
dealt with by the Conference. The proposition of our
own delegates for a standing arbitration court is a
matter of great importance; it develops widely the
institutions established at the first Hague Conference,
and will go far toward averting in the future one of
the most prolific cause of past wars.
The importance
of a general agreement to avoid dispute over the
interpretation of treaties, through reference by the
contending parties to such a tribunal, goes a long step




[V o l.

lxxxv

.

beyond any previous definite arrangement in the way of
preventing wars through simple misunderstanding.
Of almost equal practical importance is the AngloGerman proposition for a permanent international
prize court, which shall settle the delicate and doubtful
questions which have previously, in an actual state of
war, been passed on b y the interested tribunal of one
of the belligerents. It will not have been forgotten that
this very question of condemnation of neutral ships and
cargoes more than once created a situation during the
Japanese War which might, under certain circumstances,
have resulted in forcing a third Power into the fight.
As yet the Conference does not seem disposed even
toward an affirmation against increased armaments,
and it must be confessed that this is the most dis­
couraging aspect of the situation. The Conference
came at an unfortunate time, in that the leading na­
tions have been engaged this very year in a species of
competition for securing a position of relative advan­
tage in the size or number of their warships. Ger­
many, France, Great Britain and the United States
have alike been manoeuvring with a view to such
increased prestige; it was, perhaps, too much to hope
that the Conference, under such circumstances, would
listen to the eminently practical appeal for a limitation
of such experiments. For ourselves, we hold to the
belief that this question may be left with reasonable
safety to the course of events, not less in the political
than in the financial situation. Most of the govern­
ments which are indulging now in this costly com peti­
tion have already had a definite and positive warning
from the money markets of the day. It is not the la^t
which they will get, if the plan of indefinite extension
for the naval armaments continues to be cherished.
We do not know how long it will be before the English
people rise against an income tax higher than any
previously imposed except in time of war, when they
may readily determine to exactly what extent this
heavy charge results directly from the warship program.
There will also be some disappointment that the plan
of neutralizing commerce during war should have failed
so decidedly of approval. The position of Great Brit­
ain necessarily was fatal to this project, and opinions
will doubtless continue to differ, as they do to-day,
regarding the wisdom of this action by its delegates.
Evidently the feeling of the English people, as
reflected in their press, is adverse to any surrender of
the right of capture. Whether the advantage gained
through possible crippling of the enemy will com pen­
sate for the grave disadvantage which may be incurred
through the cutting off of commerce necessary to the
maintenance of British industry, is a question which
must be left for the present to events.
Beyond all other considerations stands the spirit of
the Conference itself and the endorsement of its general
purposes by all the nations of the world. M. Nelidoff,
the Russian delegate, touched on this point in his
speech at the laying of the corner stone of the Hague
Palace of Peace. The single cult, he stated, in the
nineteen hundred years since Christianity was founded,
which had never been honored by a temple, was the
cult of peace; yet this in its essence was the foundation
of the religion professed by all the greater nations of
the world. He might have safely added that the re­
version to this simple principle of religion arose even
more from practical than from sentimental considera­
tions. The two aspects of modern warfare which have

A

ug

. 17 1907.]

THE CHRONICLE.

frightened the minds of statesmen, and which have
been impressively borne in upon the world through
the incidents of the past few years, are the enormous
and exhausting expense of war and its demoralizing
influence on the resources of national wealth and
power. In this regard, Great Britain’s Transvaal
contest stands out as a historic warning. Conducted,
as it was, against an antagonist whose resisting power
was deemed all but negligible, it resulted in an outlay
of a quarter of a billion dollars and in such strain on
the capital resources of the nation and on the credit
of the State that the foremost financial power of the
world was reduced to a secondary position in the mar­
kets, with an impairment of resources from which it
has even yet not recovered. What the result must in
this regard have been had the conflict occurred between
two first-class political and financial Powers, may be
imagined from the outcom e of that petty struggle.
Bankers have learned the lesson as well as states­
men; they have seen a period of the most brilliant
material prosperity in history brought to a halt, very
largely through the prodigious waste of capital in the
Anglo-Boer and Russo-Japanese contests. They are
not likely to finance, eitherjwillingly or advantageously,
any further experiments of the sort. For their own
protection, financial markets are compelled to put the
strongest possible pressure on the governments to
avoid such derangement of the markets. There are
wars which are inevitable; probably the recent Eastern
conflict was. But by far the greater number of the
wars of the'century past have been absolutely avoid­
able, and have occurred for the plain and obvious
reason that international misunderstandings, either
accidental or fomented b y the deliberate purpose of
unscrupulous diplomatists, have created situations
from which neither party could, without loss of selfrespect, disengage itself. The proposals favorably con­
sidered by the present Hague tribunal deal effectively
with this fundamental difficulty. W ith such ma­
chinery for arbitration, sustained by the cooperation
of the whole group of nations, half of the wars since
the Napoleonic period might easily have been averted.
The stake in a first-class war to-day is of such tre­
mendous and far-reaching magnitude that the ma­
chinery now provided cannot, in our judgm ent, fail
hereafter to be invoked.
A D V A N C IN G COTTON, REDU CING R A IL R O A D
R A TE S.
The daily papers report that the annual State con­
vention at Lake Como of the Texas Farmers’ Union,
last week, before adjournment “ took the positive posi­
tion that the coming cotton crop shall not be marketed
so far as union members are concerned, for a price less
than 15 cents a pound, middling basis, and that the
cotton seed sales price minimum shall not be below $16
a ton .” There is nothing very novel in this action,
and we imagine that the cotton-producing and cotton­
consuming world will not take the action announced
any too seriously. W e recall that the Southern Cot­
ton Association at meetings both last year and the
year before urged planters to hold their cotton for 15
cents a pound, but that iievertheless the price never
reached that figure.
What attracts particular attention, however, is that
in the State of Texas, where public officials and legis­
lators are so vehement in their denunciation of trusts




377

and of combinations of every kind having for their
object the maintenance of prices, the farming people
themselves should engage in an attempt to fix the
price of one of their own products at a figure that is
considerably above the present market level and con­
siderably above any quotation for the staple reached
in recent years.
Should the movement succeed, the higher price of
course would be obtained at the expense of the con­
sumer. H ow does such a scheme differ from that
which we are asked to believe that trusts and trade
combinations pursue in the matter of the prices of the
products under their control? In the case of the great
industrial concerns, price agreements are often in­
ferred when they do not really exist, and unmerited
condemnation is visited upon them as a consequence.
The present movement to raise the price of cotton
and compel consumers to pay more than the market
price for it is, on the other hand, open and avowed.
Y et we have seen no announcement that either the
Attorney-General of Texas or any of the county or
district attorneys are contemplating legal proceedings,
under the numerous anti-trust laws which exist in
Texas, against the Farmers’ Union for undertaking to
hold up the price of cotton when it is to the interest of
consumers everywhere to get their cotton as cheaply
as possible.
Of course we do not argue that such legal proceed­
ings should be begun. We merely wish to direct at­
tention to the inconsistency of denouncing price agree­
ments on the part of corporations and then seeking
to enter into price agreements with reference to a
particular product in which we ourselves may be inter­
ested. Except in the case of an absolute m onopoly,
of which there are very few examples in the industrial
world, prices are determined by the law of supply and
demand, and farmers’ unions can no more raise the
price of cotton, save where the law o f supply and de­
mand favors the movement, than trade combinations
can permanently advance prices of their products
above the normal level as based upon the same prin­
ciples. W e are not opposed to organizations of
planters, and believe that within due limits they are
capable of a great deal of good. W e think, too, that
when properly directed they can exert a real influence
in securing for the planter a fair price for his produce
— always based upon the relation of supply to demand.
Much has already been accomplished in that direc­
tion. For instance, it used to be the practice of
planters to dispose of the bulk of their crop soon after
it had been raised. Coming at a time when the market
was glutted with supplies from the new crop, this
served to lower the level of values, and as a conse­
quence planters undoubtedly often got less for their
cotton than they were entitled t o . Now, it would seem,
a wiser policy is being pursued and organizations of
planters have undoubtedly been serviceable to that
end. Instead of marketing the crop all at once, some
of it has been held back during the period of heaviest
crop m ovem ent and disposed of later in the season,
when supplies had been reduced and there was a de­
mand for it. In this way planters in more recent years
have been enabled to get a full price for their product.
Such a course is entirely legitimate, and concerted
movements to that end have nothing of the vicious
element in them. But the whole thing merely goes
to show how difficult and complex is the question of

378

THE CHRONICLE.

[V o l . l x x x y .

and that the finances of the com pany remain on an ex­
ceptionally strong basis. In one respect the year un­
der review was a better one than the twelve months
immediately preceding, inasmuch as labor troubles,
resulting in a suspension of work at the mines lasting
for nearly two months, which had existed in 1905-06,
was not repeated in 1906-07. But while this
served to make the increase in the revenues from the
coal traffic larger than it otherwise would have been,
there was no lack of growth in the other departments
of the com pany’s business, the only difference here
being that the ratio of increase was not quite so large.
As has been many times pointed out in these col­
umns, the Lehigh Valley Railroad enjoys the dis­
tinction of being both an important anthracite carrier
and a trunk-line property of considerable prominence,
in this latter capacity connecting points on Lake Erie
and Lake Ontario with the Atlantic seaboard. Time
was when the road was almost exclusively dependent
upon the state of things in the anthracite trade; the
anthracite tonnage and revenues still constitute a
very important item in the com pany’s business, but
no longer in so overshadowing a degree as was formerly
the case. In other words, the merchandise freight
and the passenger business have been coincidently
developed, so that greater diversity of traffic has been
obtained and the com pany’s prosperity no longer
hinges upon conditions in this one class of tonnage.
Aggregate gross receipts have been rising uninter­
ruptedly year by year for a full decade, but one gets
only an imperfect idea of the growth established in
this respect by comparing merely the latest one or two
years with the. one or two years immediately preced­
ing. Going back further, however, and comparing
1906-07 with 1896-97, the noteworthy nature of the
progress made stands clearly and fully revealed. The
further increase in gross revenues in 1906-07 was $3,278,575, or, roughly, 10% . This brought the total of
the gross up to $36,068,431. Ten years before, in
1896-97, the amount of the gross was only $19,258,576.
Of the increase of 1 6 ^ million dollars in the decade,
less than 7 % million dollars has been in the revenues
from the coal traffic. These coal revenues in 1906-07
were $15,110,899; in 1896-97 they had been $7,691,918.
Nor must it be supposed that when we speak of the coal
traffic we have reference to the anthracite tonnage
alone. The designation “ coal” includes bituminous
coal as well as anthracite, and the bituminous tonnage
has been a growing item in recent years.
The gross earnings from the merchandise, or “ other”
freight, in the same ten years have risen from $7,579,243 to $14,996,672, which indicates how the com pany’s
general freight business has been developed. The
passenger traffic likewise has been steadily enlarged,
and for the latest year yielded gross of $4,363,452,
against $2,582,536 in 1896-97. Express and mail
earnings also have risen, though in a small way.
The Lehigh Valley property has, as is well known,
THE LEH IGH V A L L E Y REPORT.
been reconstructed and rejuvenated in recent years;
The Lehigh Valley Railroad is the first of the large
companies to submit its pamphlet report for the fiscal otherwise this growth in business would have been out
year ending June 30 1907. The report shows that the of the question. The m oney for the purpose came in
com pany is continuing to make progress along the same large part out of earnings, shareholders being obliged
lines as in the recent past. B y this we mean that traf­ to go without dividends while the reconstruction
fic is still being developed in all directions; that earn­ process was under way. Now shareholders are again
ings are larger than ever before; that improvement of receiving 6% per annum, the semi-annual payment
the physical state of the property is being kept up and in the year just passed having been increased from
its capacity for handling business still being*added to, 2 % to 3 % .
the course and regulation of prices, and the planter
should not condemn in others that which he finds it
necessary to pursue in his own case.
The most curious part of the action of the Texas
Farmers’ Union is yet to be mentioned. While arbi­
trarily fixing upon an advanced price for cotton and
for cottonseed, they are demanding reduction in the
price of another com m odity— transportation. We are
told in the newspaper accounts that a special resolu­
tion was unanimously passed “ demanding that the
Legislature enact laws providing for lower express
and freight ch arges'an d passenger fares.” Thus we
have the anomaly of a considerable body of people
seeking to raise the price of their own products and at
the same time urging a cut in the price of another
product of which they happen to be the users.
This seems neither fair nor reasonable. If there
is any com m odity the price of which might reasonably
be raised it is transportation. Wages of railroad
labor have risen materially, and the cost of materials,
supplies and everything else entering into the oper­
ating accounts of the transportation lines has advanced
enormously. Then the taxes of the lines are con­
stantly being enlarged and the enormous outlays of
new capital required are adding greatly to their fixed
charges and dividend requirements. Y et, instead of
allowing the railroads to make moderate advances in
their rates to compensate for these additional burdens,
they are treated as a sort of outcast, and the propo­
sition is seriously made that their rates should be re­
duced, adding further to the burdens under which
they are staggering. What have our transportation
lines done to merit such treatment? Is not this a
case where the principle of live and let live should
apply?
From any standpoint the Texas farmers are pursu­
ing a short-sighted policy. The aggressively hostile
attitude that they are assuming towards railroads
and corporations generally is bound to react upon
themselves. Confidence has already been so deeply
impaired that signs of a decided recession in trade
are now distinctly visible. Unless the public attitude
in the particular mentioned is speedily changed, it
will nof be long before we shall be in the midst of pro­
nounced business revulsion. Then whole armies of
employees of railroad and other corporations will be
thrown out of work and be tramping around idle.
This, obviously, will mean a great falling off in the
consumptive demands of the masses. The price of
cotton can only be raised to the level desired by the
planters by adding to the consum ptive demand. The
crusade against corporations is sure to restrict it, and
hence to make for lower prices— the very thing the
planter wants to avoid. Thus the shafts that the
granger element is aiming at the railroads seem likely
to enter its own vitals.




A

ug.

17 1907.1

THE CHRONICLE.

One object of the work of reconstruction and the
large outlays incurred therefor was to enable the com ­
pany to m ove traffic with increasing econom y and
efficiency. Evidence of what has been accomplished
in this respect is furnished in the record of the com ­
pany’s trainload. The average trainload has been
steadily enlarged, the further addition in the late
year having been particularly marked. W ith 10.11%
increase in the volume of the tonnage and 9.84% in­
crease in the number of tons carried one mile, the
addition to freight-train mileage was only 5 .1 1 % .
The result was that the average train load was raised
b y 22.68 tons, bringing it up to 526.38 tons. This
covers revenue freight alone. Including com pany
freight, the average load was 546.28 tons, which com ­
pares with 523.34 tons in the year immediately pre­
ceding— 1905-06. In 1898 the
average trainload,
including com pany freight, was but 384 tons. What
a difference this increased load has made in the earn­
ings of the freight trains will appear when we say that
in 1906-07 the trains earned per mile run $3 32, whereas
in 1898 they earned only $2 08 per mile.
Another evidence of the profitable results attending
the large expenditures for the improvement of the
property is furnished in the decrease in the relative
cost of conducting transportation. In 1906-07 the
expenses grouped under the designation “ conducting
transportation” bore a ratio of 33.55% to the gross
earnings, while in 1896-97 the corresponding ratio
had been 45.91% . The policy of making large ap­
propriations out of earnings each year to raise the
physical standard of the property and add to its
capacity is still being maintained. W e observe that
in the year under review, in addition to the large
amounts spent for renewals and m aintenance,and
charged directly to operating expenses, there was a
special appropriation for additions and improvements
to property of $2,068,590. This was considerably
larger than the corresponding appropriation in the
years immediately preceding, the amount so set aside
for 1905-06 having been $1,570,227 and for 1904-05
$1,411,550. W e also note that by order of the board
of directors a further sum of $1,250,000 was taken from
profit and loss in a special appropriation for replacing
small cars with equipment of larger capacity. This
appropriation is to be credited to capital account as
the cars are taken out of service. In the case of the
Lehigh Valley Coal Company, too, $250,000 has been
charged to profit and loss for improvements. The
report tells us that improvements and betterments
amounting to $708,169 were made to the various
collieries during the year, of which amount $250,000
was charged to the special appropriation just men­
tioned.
While the Lehigh Valley R R . earned more net from
its transportation business than in the year preceding
(an increase of $3,278,575 in gross having brought an
addition of $1,316,533 in net), the net results from the
operation of the Coal Company fell off— its net income
for 1906-07 being only $111,250, against $318,489 in
1905-06 and $635,548 in 1904-05. The reason is that
the collieries were operated under great drawbacks in
the late year and the management had many adverse
circumstances and conditions to contend with. As
the best way of indicating the nature and extent of
these drawbacks, we make the following excerpt
bearing on the matter from the report:




379

The net results for the fiscal year have been seriously
affected b y m any adverse circumstances. A t the beginning
of the year a cave-in occurred at W arrior R un, resulting in
an explosion of gas that fired the mine, making it necessary
to flood the entire operation. In O ctober E xeter Breaker
was demolished b y a tornado. Centralia Breaker was idle
for a period of seven m onths, due to ’the breakage of machinery
and the need of extensive repairs that could no longer be
deferred w ithout endangering the entire plant. N ot only
was the tonnage from these operations lost to the Com pany
at a time when m ost needed and productive of the greatest
profit, bu t the expense of re-opening the W arrior Run mine
and repairing the damaged breakers was so h eavy, com bined
with other conditions, as to reduce the earnings to a minimum
for several months. The anthracite coal-handling plant
and storage-yard at South Chicago, with a stock of coal
exceeding forty thousand tons, was entirely destroyed b y
fire in Novem ber, and, although partially covered b y insur­
ance, the loss of these facilities was an additional burden
upon the Com pany. Further, the shortage of cars was so
severe during the winter and early spring as to require m any
of your collieries, spread over the extended region in which
the Com pany’s operations are conducted, to close down fre­
quently during that period with less than a day’ s ou tpu t,
and this, with the inability of connecting roads to prom ptly
m ove to destination such tonnage as had been sold, resulted
not only in an excessive cost of operation, bu t prevented the
sale of coal during a time when it could have been marketed
at the greatest profit.

Notwithstanding the unfavorable outcom e for the
coal com pany, the available net income for 1906-07 for
the combined properties, over and above fixed charges
and the $2,068,590 appropriated for additions and
improvements (but not above the $1,250,000 charged
against profit and loss in the case of the Lehigh Valley
R R . and the $250,000 in the case of the Lehigh Valley
Coal Company) was $6,136,204. The call for 6%
dividends on Lehigh Valley R R . stock was only $2 ,420,088, to which must be added $10,630 for the divi­
dends on the small amount of preferred stock outstand­
ing, making $2,430,718 together, as against the $6,136,204 of available income. Even after the special appro­
priations of $1,500,000 for the two companies,
charged against profit and loss, there would remain
a balance on the year’s operations of $2/205,486 over
the dividend requirements.
The financial condition of the com pany is one of
exceptional strength. Cash on hand was reduced
during the twelve months, owing to the large purchases
of equipment made and paid for out of current funds,
but nevertheless remains large, amounting to $7,326,860. Including this cash, total current assets (exclu­
sive of materials and supplies on hand of $2,099,145)
were $11,757,906 on June 30 1907, while current lia­
bilities at the same date were only $5,443,084, which
latter would be increased by $.1,163,895 by the addi­
tion of interest and rentals accrued but not due. Be­
sides the ordinary current assets, the com pany holds
large amounts of its own obligations unsold in its
treasury. The report tells us that $5,539,000 of bonds
were issued during the year under the provisions of
the general consolidated mortgage, but only $539,000
were sold, the remaining $5,000,000, together with
$2 ,000,000 previously issued, being in the com pany’s
treasury, making no less than $7,000,000 of these
bonds available for future needs. Furthermore, an
equipment trust, known as Series I, for $4,000,000,
was created under date of Aug. 1 1906, covering 2,000
coal cars of 100,000 lbs. capacity each and 2,000 box
cars of 80,000 lbs. capacity each. All of these certifi­
cates, together with $540,000 of equipment trust Series

380

THE CHRONICLE.

H certificates, remain on hand. Furthermore, during
the year the amount of the other issues of equipment
trusts outstanding was reduced by $1,002,000. The
result is that, while altogether the aggregate of the
equipment trust obligations June 30 1907 was $6,564,000, only $2,024,000 of this sum was actually out­
standing in the hands of the public, the remainder
being held in the com pany’s treasury. The increase
in outstanding debt, directly or indirectly, during the
year was very small, about the only addition of conse­
quence being a sale of $2,000,000 of 4 % bonds of the
Lehigh & Lake Erie R R . Company. The accounts
of the com pany, in accordance with the usual practice,
have been examined by certified public accountants,
and these accountants attest the correctness of the
various statements of income and condition given in
the report.

R A IL R O A D GROSS E ARN IN GS FOR J U L Y .
While the financial markets are in a slough of de­
spond and values of railroad securities on the Stock
Exchange are dropping in a most alarming way, no
fault can be found with the returns of railroad gross
earnings. These still continue very satisfactory, and
reflect continued growth in the volume of business.
The explanation of this apparent anomaly— railroad
gross revenues rising while railroad stock and bond
values are declining— is found in the fact that, in the
estimation of the public, these favorable returns of
gross earnings are indicative of past conditions and
past business, and it is felt to be by no means certain
that continued growth and development can be de­
pended upon in the future under the complete loss of
confidence and discredit of securities that is resulting
from the existing governmental policy, national and
State, against railroads and other classes of corpora­
tions.
A second consideration, however, also comes into
play. The figures to which we are referring relate
merely to the gross revenues. Recent experience has
shown that reports of gross no longer furnish a guide
to the course of net earnings, owing to the tremendous
increase in the expense accounts of the roads and the
continued presence of the numerous causes that tend
to keep operating cost high. We showed last week,
in our review of the half-yearly statements of the New
Y ork Central lines, that, with an addition to the gross
for the six months ending June 30 of $7,568,382, as
compared with the corresponding six months of 1906,
the addition to the expenses for the same period of six
months on this system had been no less than $8,620,354, therefore leaving a loss in net of over a million
dollars. Hence, deductions based on returns of gross
alone are to be accepted with caution. Figures as to
the expenses are necessary before safe conclusions can
be formed as to the present income basis of the prop­
erties.
The compilations we present to-day are for the
month of July. They comprise, as usual, only the
roads that furnish early preliminary exhibits of their
gross. But as they cover close to 100,000 miles of
road (97,152 miles for July this year), or not far from
half the railroad mileage of the country, these early
figures usually furnish a fair index of the course of
railroad earnings as a whole. Hence, it is satisfactory
to note that for July our totals, based on this mileage,




[V o l . l x x x v .

record a gain over the same month last year of $9 ,326,102, or 11.52% .
Additional significance is given to this improvement
by the fact that comparison is with unusually full
totals in 1906. In the months immediately preceding,
it will be remembered, a widespread disturbing influ­
ence had existed last year, and which served to
restrict the amount of the gains; we refer to the sus­
pension of coal mining which then prevailed to a greater
or smaller extent in pretty nearly all the important
coal-producing districts of the Middle and Middle West­
ern States and in the Southwest. In July 1906, how­
ever, the troubles at the mines had been quite exten­
sively rem oved, so that this remained an influence
reducing tonnage and revenues only in special cases,
like that of the Buffalo Rochester & Pittsburgh, where
work at the mines was not resumed until the 16th of
the month. It thus happened that the increase for
July 1906 reached larger porportions than for prior
months, amounting to (on the roads making prelimi­
nary returns, with practically the same mileage as our
compilation the present year) $10,392,107, or 14.60% .
It is on top of these very favoble results last year
that we have the further increase of $9,326,102, or
11.52% , the present year. As a matter of fact, the
July compilations have shown continuous and cumu­
lative gains for a long series of years past, there having
been only one exception to the rule in recent periods,
namely 1904, as may be seenj from the following sum­
mary, carrying the comparison back to 1896:
M ileage.

Gross Earnings.

July.
Year
Year
ln Given. preced’g cre’se
Year­
l y
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
Jan.
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907

R ds.
126
122
126
111
99
88
79
75
67
55
68
-----65
____
____
____
____
____
____
____
____
____
____

M iles. M iles.
93,193 92,413
96,605 95,286
90,942 90,417
94,980 93,906
93,573 90,528
91,846 89,891
94,718 92,947
97,910 96,049
85,558 83,243
75.398 73,629
96,484 94,276
97,152 96,231

1 to July 31.
____ 121 90,918
____ 120 96,048
____ 125 90,920
____ 108 94,604
____
99 93,573
____
85 88,374
78 94,573
____
75 97,910
____
67 85,558
____
54 75,141
____
68 96,484
-----65 97,152

Y ear
Given.

%
0.84
1.38
0.58
1.14
3.36
2.17
1.91
1.93
2.78
2.42
2.34
0.95

$
39,923,091
43,055,387
39,401,085
49,779,446
48,884,012
52,849,645
61,197,348
69,395,816
54,602,603
50.144,735
81,578,288
90,308,407

90,118 0.88
94,729 1.38
90,395 0.58
93,530 1.14
90,528 3.36
86,419 2.03
92,802 1.91
96,049 1.93
83,243 2.78
73,372 2.42
94,276 2.34
96,231 0.95

254.840,255
274.635,194
276,240,565
321,435,882
336,441,873
317,871,965
400,633,078
462,741,784
365,668,378
334,014,442
541,466,463
592,730,696

Year
Preceding.

Increase ( + )
or
Decrease (— ).

•
$
%
38,504,094 4-1,418,997
41,056,206 + 1,999,181
38,822,059
+ 579.026
42,625,375 + 7,154,071
46,085,544 + 2,798,468
46,334,619 + 6,515,026
56,849,967 + 4,347,381
61,980,921 + 7,414,895
55,607,185 — 1,004,582
46,659,292 +3,485,443
71,186,181 + 10,392,107
80,982,305 + 9,326,102
238,948,747
272,821,160
247,351,746
298,502,817
299,297,422
288,590,907
369,655,341
408,483,911
372,108,550
312,876,815
468,552,630
537,562,604

+ 15,891,508
+ 1.814,034
+ 28,888,819
+ 22,933,065
-t-37,144,451
+ 29,281,058
+ 30,977,737
4-54,257,873
— 6,440,172
+ 21,137.627
+ 72,913,833
+ 55,168,092

%
3.68
4.86
1.49
16.78
6.07
14.06
7.64
11.96
1.80
7.47
14.60
11.52
6.65
0.66
11.68
7.68
12.41
10.14
8.38
13.29
1.73
6.75
15.56
10.24

N ote.— Neither the earnings of the Mexican roads nor the mining operations of
the anthracite coal roads are Included in this table.

It deserves to be pointed out, furthermore, that the
present j^ear’s gains in gross revenues in July were
made in face of a falling off in the grain traffic in the
West and a contraction in the cotton traffic in the
South. On the other hand, the roads have all had one
special advantage in July 1907, and this should by no
means be lost sight of in estimating the importance
and significance of the present improvement. There
was one less Sunday, and therefore one more working
day, in July this year than in July of the previous year;
in other words, while July 1907 had 27 working days,
July 1906 had only 26.
With reference to the cotton movement in the S ou th ,
the shipments overland aggregated only 29,391 bales
in July 1907, against 30,092 bales in July 1906 and 54,682 bales in July 1905. The receipts at the Southern
outports were 46,294 bales, against 125,079 bales in
1906 and 367,244 bales in 1905, from which an idea
will be gained of the shrinkage in this item of traffic
over the Southern roads.

A

ug

. 17 1907.]

THE CHRONICLE.

R E C E IP T S O F COTTON A T S O U T H E R N PO R T S IN JU L Y , A N D FROM
JA N U A R Y 1 TO JU L Y 31 1907, 1906 A N D 1905.
July.

Since January 1.

1907.
G a lv e s t o n ___' _______bales
Port Arthur, & c................
New Orleans................ ..........
M ob ile_______ _____ _______
Pensacola, & c_____________
Savannah _________________
Brunswick...........................
Charleston_________________
G eorgetow n................. ......
W ilm ington.............................
N o r fo lk ___________________
N ewport News, & c_________
T otal................ _...................

1906.

16,251

24,551 117.021 1.620,087
619
2,159
104,263
29,222 64,696 956,139
8,937 12,249
82,661
10,092
5,278
75,453
31,104 85.547 404,560
5,412
38
64,588
3,850
6,283
32,434
17
477
5,526
263
71,936
10.383 49,845 230,414
740
1,691
32,727

14,118
372
1,117
6,916
1,784
75
152
4,592
917

1905.

1907.

1906.

1905.

830,319 1,020,497
49,919
179,320
767,685 1,156,380
78,439
117,162
90,299
94,334
412,094 641,335
65,010
67,393
31,752
50,157
679
276
59,750
28,059
165,687 335,435
11,872
22,178

46,294 125,079 367,244 3,675,739 2,563,505 3,796,692

Concerning the grain movement in the W est, there
was a falling off in the case of practically every one of
the leading cereals— that is, taking the receipts at
the Western primary markets as a gauge. The com ­
bined deliveries of wheat at Chicago, Milwaukee, St.
Louis, Toledo, Detroit, Cleveland, Peoria, Duluth,
Minneapolis and Kansas City for the four weeks end­
ing July 27 were only 14,293,226 bushels, against
22,219,719 bushels in the corresponding four weeks of
1906; of corn, 12,321,288 bushels, against 12,429,802
bushels; of oats, 8,240,878 bushels, against 12,310,507
bushels; of barley, 1,314,450 bushels, against 2,059,004
bushels. Adding rye, the total for the five cereals for
the four weeks in 1907 is 36,464,501 bushels, against
49,254,020 bushels in the four weeks of 1906,— showing
consequently, a shrinkage of over 12% million bushels.
The Western grain movement in detail, in our usual
form, is set out in the following:
W E S T E R N F L O U R A N D G R A IN RE C E IPTS .
Fourw ks.ending July 27
Chicago—
1907.........
1906_____
Milwaukee—■
1907_____
1906_____
St. Louis—
1907_____
1906_____
Toledo—
1907_____
1906_____
Detroit—
1907_____
1906. . . .
Cleveland—
1907_____
1906_____
Peoria—
1907 ____
1906_____
Duluth—
1907_____
1906 ____
M inneapolls—
1907_____
1906_____
Kansas City—
1907_____
1906_____

Flour.
(bbls.)

Wheat.
(bush.)

513,189
501,876

933.800
6,508,562

149,450
173,575
174,260
130,610

Corn.
(bush.)

Oats.
(bush.)

Barley.
(bush.)

Rye.
(bush.)

7,877,442
8,285.204

3,773.086
4,900,755

372,612
471,900

489,935
433,600

668,800
604.800

350,400
553,300

74,700
36.800

1,510,643
2,867,621

1.335,825
1,516,480

1,446,055
1 7^2,535

6 500
11.700

6.084
16,810

156,000
613,700

315,600
191.200

112 100
282,950

16,200
27,110

74.036
216,085

251.521
300,903

222,511
180,044

3.728
3,936

49,745
600,589

320,531
179 313

257,484
349,609

4.000

38 750
114,500

30 100
348.350

820,600
675,900

459,000
1,269,600

46,000
68,000

14,000
20.700

369,750
553,000

2,500,032
992.095

33,314
46,262

361.722
1,361,204

310,248
450,624

69,715
9,357

5,748 870
3,883.520

284,920
275,940

772,320
1,382,410

224.690
503,480

591.800
525.000

367,600
246.600

1.314.450
2,059.004

T n rr p n

367,800

12.321,288 8.240,878
12,429,802 12,310,507

P R I N C I P A L C H A N G E S IN GROSS E A R N I N G S IN J U L Y .
N o rth e r n P a c i f i c _________ $ 1 ,2 6 6 ,4 8 1
N ew Y o r k C en t & H R R . 1 ,0 4 0 ,0 9 6
C a n ad ian P a c i f i c __________1 ,0 1 8 ,0 0 0
B a ltim o re & O h io ________
7 0 7 ,0 5 7
G ra n d T r u n k (4 r o a d s ) ___
395 ,0 0 4
Illin o is C e n tr a l____________
360 ,673
S ou th ern R a ilw a y ________
349 ,7 9 5
M issouri K an sas & T e x a s .
336 ,9 1 3
C a n adian N o r t h e r n _______
335 ,7 0 0
L o u is v ille & N a s h v ille ____
332 ,8 3 7
294 ,6 0 0
D e n v e r & R io G ra n d e ____
G t N o rth e rn S y ste m (2 rds)
276 ,2 2 2
B u ffa lo R o c h e s t e r & P i t t s .
275 ,3 4 9
M ich igan C e n tra l__________
267 ,872
M o P a cific (2 r o a d s ) ______
247 ,0 0 0
L a k e Sh ore & M ich . S o u . .
220 ,445
T e x a s & P a c ific ___________
2 0 1 ,9 7 6
W heeling- & L a k e E r ie ___
172 ,830

44,460
58,110

2,437,000
5,853,000

early compilations, the present statement shows three
companies each reporting over a million dollars in­
crease, namely the Northern Pacific $1,266,481, the
New Y ork Central $1,040,096 and the Canadian Pa­
cific $1,018,000. The gain in the case o f the New York
Central, moreover, is for the New Y ork Central proper
alone; adding the other Central lines which furnish
monthly exhibits (like the Lake Shore, the Michigan
Central, the Big Four, & c.), the increase for the New
York Central System is brought up to $1,880,970.
There is only one road which reports a decrease ex­
ceeding $30,000, namely the Lake Erie & Western,
with $34,754 loss, and there are only ten roads alto­
gether (out of the 65 contributing returns) which have
any decrease at all. They consist mostly of roads
which would appear to have sustained a shrinkage in
their grain traffic with relatively little expansion in
other classes of traffic to offset the loss. In the table
we now subjoin we have brought together all changes
on the separate roads for amounts in excess of $30,000,
whether increases or decreases.

79,000
61,571

853,000
336,197

Total oj all—
1907 . . 1,265,327
1906......... 1,504.607
Jan. I to
July 27.
Chicago—
1907.......... 5,537,251
190 6
4,996,646
Milwaukee—
190 7
1,407,375
190 6
1,403,190
St. Louis—
190 7
1,608,990
190 6
1,195,940
Toledo—
190 7
190 6
Detroit—
79,700
190 7
180,970
190 6
Cleveland—
30,317
190 7
34,709
190 6
Peoria—•
512,200
190 7
654.050
1900_____
Duluth—
1907_____ 1.084,040
190 6
1,857,300
M inneapolis190 7
190 6
Kansas City—
190 7
1906_____

14,293.226
22,219,719

7,132,329
9,513,341
4,052.458
2,652,357
6,081,005
8,568.591

78,026,745 47,731,644
56,933,381 44,846,362

9,892,437 1,188,650
9 926,602
809,768

23,338,470 16,391,475
17,500,495 14,648,510

1,358,900
1,309,400

237,453
286,197

2,740

30,500
89,040

5,191,600
3.459.200

2,041,300
2,250,050

836,409
920,404

2,745,849
3,790,295

1,318,711
1,982,075

553,456
894,801

3,512,526
3,292,826

3.038,647
3,057,836

59,582
223,070

2,200

290,600
666.250

9,420,560 5,763,050
7,864.300 11,864,400

1,468,000
1,422,500
2,579,620
1,990,038

221,430
131,358

3,872,330 8.828,900
2,486,990 11.633,830

14.128.000
13.287.000

7,746,600
9,679,000

1906.

1905.

1904.

1903.

1902.

$
5,882,000
a719,893
279,213
5,023,951
234,825
318,575
998,345
5,688,926

$
4,629,175
a632,569
296,498
3,895,160
215,121
297,160
777,434
4,568,896

$
4,398,834
528,714
236,908
3,672,715
193,386
246,815
641,479
4,071,388

%
3,997,344
680,682
265,239
3,586,024
194,759
246,228
589,732
4,144,635

$
3,246,620
548,793
267,217
3,459,845
208,478
317,513
592,278
3,850,370

21,880,044 j 19,145,728 15,312,013 13,990,239 13,704,643 12,491,114

1907.

1906.

S
835,440
476,256
2,312,463
234,676

July.

$
560,091
498,317
2,143,364
244,637

$
766,487
498.181
1,890,912
213,892

3,606,234

3,229,213

3,013,149

4,342,146
7,729,222
99,100
333,153
2,275,341
406,396

3,748,999
7,135,298
101,204
327,938
2,001,080
430,116

3,805,184
6,443,618
98,406
274,315
2,082,154
349,544

Buff R och & P
Chic Ind & Lou
C C C & st L _ .
Peo & E ast.
Gr Tr of C a n .l
Gr Tr West \ 64,001,238
Det G H & M j
Illinois Central 4,702,819
NYC & H RRn 8,769,318
93,403
Tol Peo & West
334,382
T oISt L & W_
W abash ____ _ 2,339,132
579,226
W h & Lake E .

179,900
191,700

53,879,576
42,299,620

1907.

S
Canadian P a c. 6,900,000
C h icG t W e s t ..
a696,345
Dul So Sh&Atl
329,995
Gt North Sys. 5,300,173
Iowa C en tral..
238,685
Minneap& St L
357,280
M St P & S S M 1,102,159
Northern P a c. 6,955,407

294,659
234 988

1905.

1904.
$
649,195
458,350
1,764,084
233,705

1903.

S
717,385
482,013
1,860,257
223,277
(2,647,376
• 446,258
1
I
98,303
3,822,203
6,849,464
110,808
259,963
2,000,156
425,039

1902.
$
612,087
406,410
1,569,037
204,783
2,129,580
363,528
95,383
3,348,770
6,036,838
91,934
240,040
1,721,532
333,922

T otal_______ 24,678,353 22,238,001120,343,320 19,171,704 19,942,502 17,153,844

m

5,068,441 1,209,285
4,933,853
574,114

3.370,800
3.069,200

Total of all—
1907-------- 10,258,873 109,015,307 138,452.064 96.817,482 28.029,380 3,802,018
1906--------10.322,805 90,279,004 109,692.683 103407.021 27.241,403 2,567.777

In the matter of the separate roads, the im prove­
ment is on a scale commensurate with the increase in
the grand aggregate. Though the Pennsylvania and
several other large systems are never comprised in our




E A RN IN G S O F N O R T H W E S T E R N AN D N O R TH P A C IF IC G R O U P .

E A R N IN G S O F M ID D LE AN D M ID D LE W E S T E R N G R O U P .

732.600
485.600

1,592,455
4,880,858

T o ta l (37 r o a d s ) ___ , ____ 5 9,179,579
D ecrea ses.
IL a k e E rie & W e s t e r n . ___ ..$ 3 4 ,7 5 4

a Results are based on 111 miles less road, beginning with 1905.

7,602,400
7,433,200

67.949
100,146

In crea ses.
$16 9 ,0 9 9
117 ,9 2 2
103 ,814
9 5 ,703
8 2 ,667
7 9 ,2 6 6
70,4 6 3
7 0 ,2 5 4
69,1 4 7
63,791
5 0 ,7 8 2
38,705
3 6 ,3 5 3
i/3 2 ,763

T o complete our analysis we furnish the following
six-year comparisons of the earnings of leading roads,
arranged in groups according to their location.
July.

1,150,500
1,309.200

20,910,974
10,167,440

C leve Cin C h ic & St L o u is .
P itts b u r g h & L a k e E r i e . .
M in n S t P & S S M _______
S t L o u is S o u th w e s te r n ___
M obile & O h io ____________
Y a z o o & M iss V a lle y ______
C o lo ra d o & S o u th e r n ____
M id la n d V a l l e y ___________
C h ic In d & S o u th e r n ______
W a b a s h ____________________
D u lu th S o u th S h ore & A t l
M inn & St L o u is __________
R u t l a n d ___________________
: A la b a m a G rea t S o u th e r n .

V T h ese figu res are fo r th ree w eek s o n ly .

6,700
31,640

6,740,500
5,173,900

4,529,435
4,586,050

38!

a The Fall Brook System , the Beech Creek R R ., the Wallkill Valley R R . and the
Boston & Albany Included for all the years.
b Includes Canada & A tlantic, beginning with O ctober 1904.
EA R N IN G S O F S O U T H E R N G R O U P .
July.

1906.

1905.

1904.

1903.

1902. q

S
323,768

S
291,779

$
236,439

$
243,849

S
202,440

258,140
230,528
102,391
108,9S5
101,213
120,430
877,960
953,900
613,386
753,173
3,703,523 3,307,982
703,435
804,350
4,479,795 4,022,954
528,636
588,467

178,631
95,775
98,545
745,651
557,441
2,859,840
598,364
3,716,117
520,844

200,364
84,760
94.440
714,975
634,888
3,024,232
628,853
3,594,731
513,969

176,068
72,534
86,664
677,871
473,080
2,709,244
555,262
3,291,416
441,060

13,005,326 12,094,531 10,780,264

9,607,647

9,735,061

8,685,639

1907.
S
6356,531

Ala Gt South.
Ala N O & T P
a258,140
N O & N E ._
Ala & Vicks . al08,985
Vicks Sh & P al20,430
962,500
Central of G a . .
Cin NO & T P
6778,040
Lou & Nashvtf 4,036.360
887,017
Mobile & Ohio
Southern R y . _ 4,829,590
667,733
Y azoo & M Val
T otal............

a July not yet reported; taken same as last year.
b Fourth week not yet reported; taken same as last year.
d Includes earnings o f Atlanta K noxville & Northern In 1904, 1905, 1906 and 1907

382

THE CHRONICLE.
E A R N IN G S O F S O U T H W E STE R N G R O U P .
1904.

1903.

s
S
Col & Southern a l ,087,682 a l , 017,219
D env & R io Gr 1,948,900 1,654,300
552,000
Int & Gt North
571,000
Mo K an & Tex 2,185,267 1,848,354
Mo Pac&Cen B 4,107,000 3,860,000
714,325
St L & So West
810,028
Texas & Pacific 1,212,314 1,010,338

S
867,138
1,505,427
486,522
1,626,731
3,662,091
670,181
822,379

S
675,053
1,321,638
406,071
1,388,397
3,344,665
641,981
759,240

S
803,665
1,519,392
412,597
1,327,102
3,601,152
553,538
783,780

$
748,740
1,516,784
327,156
1,271,559
3,078,782
526,869
697,614

11,922 191 10,656,536

9,640,469

8,537,045

9,001,226

8,167,504

1907.

1906.

a For 1907, 19Q6 and 1905 includes all affiliated lines except Trinity & Brazos
Valley R R . For previous years we have com bined Colorado & Southern and
F ort W orth & D enver City.
G R O SS E A R N IN G S A N D

M IL E A G E IN J U L Y .
M ile a g e .

G ross E a rn n ig s.
N a m e o f R oad.

190 7.

1906.

$
V2 26,595
7 ,2 5 1 ,9 0 3
5,531
8 3 5 ,4 4 0
9 39 ,500
6 ,9 0 0 ,0 0 0
962 ,500
16,919
696 ,345
476 ,2 5 6
235,225
2/499,546
84,136
2 ,3 1 2 ,4 6 3
234 ,676
1 ,0 8 7 ’,682
1 ,9 4 8 ,9 0 0
1 05 ,878
358 ,7 0 6
329 ,9 9 5
188 ,555

$
2/193,832
6 ,5 4 4 ,8 4 6
3,775
560 ,091
6 03 ,800
5 ,8 8 2 ,0 0 0
953 ,900
16,782
719 ,8 9 3
4 98 ,317
166,078
2/474,679
88,353
2 ,1 4 3 ,3 6 4
2 44 ,637
1 ,0 1 7 ,2 1 9
1 ,6 5 4 ,3 0 0
98,480
3 40 ,297
279 ,2 1 3
171,261

$
+ 32,763
+ 707 ,0 5 7
+ 1,756
+ 275 ,3 4 9
+ 335 ,700
+ 1 ,0 1 8 ,0 0 0
+ 8,600
+ 137
— 23,548
— 22,061
+ 69,147
+ 24,867
— 4,217
+ 169 ,099
— 9,961
+ 70,463
+ 2 94 ,600
+ 7,3 9 8
+ 18,409
+ 50,782
+ 17,294

309
4,030
27
568
2,5 5 4
9,055
1,913
105
818
591
340
336
248
1,983
351
1,841
2,532
343
684
592
395

309
4,030
27
568
2,402
8,776
1,890
105
818
591
340
336
248
1,983
351
1 ,663
2,470
333
684
592
395

4 ,0 0 1 ,2 3 8

3 ,6 0 6 ,2 3 4

+ 395 ,004

4 ,5 2 8

4 ,5 2 8

5 ,0 6 6 ,6 0 2
233,571
220 ,9 6 2
4 ,7 0 2 ,8 1 9
5 7 1 ,0 0 0
238 ,685
398 ,4 8 5
3 ,8 0 4 ,8 7 6
4 ,0 3 6 ,3 6 0
12,1 4 9
6,974
2 ,3 8 6 ,8 4 3
131 ,293
72 ,2 5 9
357 ,2 8 0
1 ,1 0 2 ,1 5 9
2 ,1 8 5 ,2 6 7
3 ,9 7 4 ,0 0 0
133 ,000
887 ,0 1 7
27,2 9 9
8 ,7 6 9 ,3 1 8
809,256
6 ,9 5 5 ,4 0 7
1 ,4 3 3 ,6 9 5
5 4 ,2 4 9
286 ,276
810 ,028
137,270
4 ,8 2 9 ,5 9 0
90,707
1 ,2 1 2 ,3 1 4
93,403
3 34 ,382
7 6 ,146
102 ,648
2 ,3 3 9 ,1 3 2
48 0 ,7 3 8
579 ,2 2 6
667 ,733

4 ,7 7 6 ,4 3 6
2 47 ,515
193 ,383
4 ,3 4 2 ,1 4 6
5 52 ,000
234 ,8 2 5
4 3 3 ,2 3 9
3 .5 8 4 ,4 3 1
3 ,7 0 3 ,5 2 3
13,060
13,036
2 ,1 1 8 ,9 7 1
61,039
" 5 6 ,7 9 6
3 18 ,575
998 ,345
1 ,8 4 8 ,3 5 4
3 ,7 1 8 ,0 0 0
142,000
8 04 ,350
21,626
7 ,7 2 9 ,2 2 2
808,722
5 ,6 8 8 ,9 2 6
1 ,3 1 5 ,7 7 3
4 8 ,1 4 9
249 ,923
714 ,325
1 13 ,526
4 ,4 7 9 ,7 9 5
67,697
1 ,0 1 0 ,3 3 8
99,100
333 ,1 5 3
62,7 3 9
84,862
2,2 7 5 ,3 4 1
4 6 2 ,8 5 0
4 0 6 ,3 9 6
588 ,4 6 7

+ 290 ,166
— 13,944
+ 27,579
+ 360 ,673
+ 19,000
+ 3,860
— 3 4 ,754
+ 220 ,445
+ 3 32 ,837
— 911
— 6,062
+ 2 67 ,872
+ 7 0 ,254
+ 15,463
+ 38,705
+ 103 ,814
+ 336 ,913
+ 2 5 6 ,0 0 0
— 9,000
+ 82,667
+ 5,673
+ 1 ,0 4 0 ,0 9 6
+ 534
+ 1 ,266,481
+ 117 ,922
+ 6,1 0 0
+ 36,353
+ 95,703
+ 23,744
+ 349 ,795
+ 23,010
+ 201 ,9 7 6
— 5,697
+ 1,229
+ 13,407
+ 17,786
+ 63,791
+ 17,888
+ 172 ,830
+ 79,2 6 6

6,039
250
307
4,371
1,159
558
886
1,520
4 ,3 3 6
105
78
1,745
293
140
799
2,152
3,0 7 2
6,014
388
926
144
3,784
523
5,6 0 6
191
180
468
1,451
197
7,492
268
1,848
248
451
88
134
2,517
544
498
1,239

5,9 7 4
250
307
4 ,4 5 9
1,159
558
886
1,5 2 0
4 ,2 9 8
105
78
1,745
293
140
799
2,145
3 ,0 4 3
5,951
388
926
144
3,774
523
5,598
191
180
468
1,451
197
7,455
268
1,829
248
451
88
134
2,517
544
498
1,210

9 0 ,3 0 8 ,4 0 7

8 0 ,9 8 2 ,3 0 5

5 8 2 ,8 1 0
75 9 ,7 3 5
J/428,700
2/81,096
1 ,3 7 7 ,4 6 3
83,113

581,761
589 ,5 7 8
2/419,300
2/68,755
1 ,1 8 8 ,0 4 3
86,206

1907.
A la b a m a G reat S o u th .
B a ltim o re & O h io ____
B e lle fo n te C e n tra l____
B u ffa lo R o c h & P itts .
C a n a d ia n N o rth e r n ___
C a n a d ia n P a c ific ___
C en tral o f G e o rg ia ____
C h a tta n o o g a Sou th ern
C h ica g o G reat W e s t . .
C h ic In d ia n a p & L ou is
C h ic In d ia n a & S ou th .
C in N O & T e x a s P a c .
C in cin n a ti N o r t h e r n . _
C lev e Cin C h ic & St L .
P e o r ia & E a s t e r n ..
C o lo r a d o & S ou th ern .
D e n v e r & R io G rande
D e tr o it & M a c k in a c . _
D e tr o it T o le d o & Iron t
D u lu th S o Sh ore & A tl
G e o rg ia S ou th & F la . _
G ra n d T ru n k o f C a n .]
G ra n d T ru n k W e s t ■
D e t G r H & M l l w .. |
C a n a d a A t l a n t i c ..J
G rea t N o rth e r n , Incl
E a stern o f M in n ___
M o n ta n a C e n tra l___
G u lf & Ship Is la n d ___
Illin o is C e n t r a l _______
In te m a t & Gt N o rth .
I o w a C e n tra l_________
L a k e E rie & W e s t e r n .
L a k e Sh ore & M ich So
L o u is v ille & N a sh ville
M a co n & B irm in gh a m
M in ls t iq u e ____________
M ich ig a n C e n t r a l ____
M id la n d V a lle y __ .
M in era l R a n g e ________ ■
M in n eap & St L o u is . .
M in n eap St P & S S M
M o K a n sa s & T e x a s ..
M o P a cific & Ir o n M t .
C en tral B r a n ch ____
M ob ile & O h io ________
N e v a d a Cal & O r e g o n .
N Y C en t & H u d R i v .
N Y C h ic & St L o u i s . .
N o rth e r n P a c i f i c ____
P lt t s b & L a k e E r ie ___
R i o G ra n de S o u th e r n .
R u tla n d . .
S t L ou is S ou th w estern
S ou th ern I n d ia n a ____
S ou th ern R a ilw a y ____
T e x a s C en tral ___
T e x a s & P a c ific _______
T o le d o P eoria & W est
T o le d o S t L o u is & W .
T o r o n t o H a m & B u ff.
V ir g in ia & S ou th w est .
W a b a s h _______________
W e s te rn M a r y l a n d ___
W h e e lin g & L a k e F>rle
Y a z o o & M iss V a lle y
•T o t a l (65 r o a d s ) ___
N e t in crea se (1 1 .5 2 % )
M e x ica n R o a d s (n o t
in clu d e d in tota ls) —
In te r o ce a n ic o f M ex ico
M ex ica n I n te rn a tio n a l
M e x ica n R a i l w a y ____
M ex ica n S o u th e r n ____
N a tio n a l R R o f M e x . .
H id a lg o & N E ____

I n c . ( + ) or
D e c . (— ) .

190 6.

.

G u lf & Ship Is la n d __________
Illin ois C e n tra l______________
In te r n a tio n a l & G t N o r t h . .
I o w a C e n t r a l _______________
L a k e E rie & W e s t e r n ______
L a k e Sh ore & M id i S o u t h . _
L o u is v ille & N a s h v ille ____
M a co n & B ir m in g h a m ______
M a n is t lq u e __________________
M ich ig a n C e n tra l___________
M id la n d V a l l e y ____________
M in eral R a n g e ______________
M in n eap olis & St L o u is ____
M inn S t P a u l & S S M ____ .
M issouri K a n sas & T e x a s . .
M issouri P a cific & Ir o n M t .
C en tral B r a n ch ___________
M o b ile & O h io ______________
N e v a d a Cal & O r e g o n ______
N Y C en tral & H u d s o n R i v
N Y C h ica g o & St L o u is ___
N o rth e rn P a c i f i c ___________
P itts b u r g h & L a k e E r ie ___
R i o G ra n de S o u th e r n --------R u t l a n d ____________________
St L o u is S o u th w e s te r n ------S o u th e rn I n d i a n a __________
S o u th e rn R a ilw a y --------------T e x a s C e n tra l_______________
T e x a s & P a c ific ____________
T o le d o P e o ria & W e s t e r n ..
T o le d o St L o u is & W e s te rn
T o r o n t o H a m ilto n & B u f f . .
V irg in ia & S o u th w e ste rn . .
W a b a s h _____________________
W e s te rn M a r y la n d __________
W h e e lin g & L a k e E r ie ______
Y a z o o & M ississippi V a lle y

127 ,596
1 ,3 0 4
25,9 7 3

5 5 ,000

5 3 7 ,5 6 2 ,6 0 4 5 5 ,4 6 3 ,9 8 9
5 5 ,1 6 8 ,0 9 2

T o t a l (65 r o a d s ) __________
N e t in cre a se ( 1 0 . 2 4 % ) ------M e x ica n R o a d s (n o t i n ­
c lu d e d in t o t a ls )—
I n te r o c e a n ic o f M e x ic o ____
M e x ica n I n t e r n a t io n a l____
M e x ica n R a ilw a y ___________
M e x ica n S o u th e r n __________
N a tio n a l R R o f M e x ic o ____

2 9 5 ,8 9 7

251,247
7 8 8 ,8 5 0
4 8 4 ,2 0 0
55,623'
1 ,2 7 3 ,5 0 2

4 ,3 3 1 ,4 9 8
5 ,4 1 5 ,9 5 8
2/4,399 .900
i/7 6 2 ,006
9 ,8 5 5 ,4 7 0

y T h ese figu res are d o w n t o th e e n d o f th e t h ird w e e k o f J u ly o n ly .

+ 9 ,3 2 6 ,1 0 2 97,152 96,231

+ 1,0 4 9
+ 170,157
+ 9,4 0 0
+ 12,341
+ 189,420
— 3,093

736
911
321
263
1,730
152

736
884
321
263
1,730
152

V F igu res here given are fo r th ree w eek s o n ly o f th e m o n t h in b o t h
years; fo u r th w eek n o t y e t r e p o r t e d .

G R O SS E A R N IN G S F R O M J A N U A R Y 1 TO J U L Y 31.
N a m e o f R oad.
P
A la b a m a G reat S o u t h e r n .,
B a ltim o re & O h io __________
B e lle fo n te C e n tr a l__________
B u ffa lo R o c h & P itts b u r g h
C a n a d ia n N o rth e r n ________
C a n a d ia n P a c i f i c ___________
C en tral o f G e o rg ia __________
C h a tta n o o g a S o u t h e r n ____
C h ica g o G reat W e s t e r n ____
C h ic In d ia n a p & L o u is v ille .
C h ica g o In d ia n a & S o u t h . .
C in N ew O rleans & T e x P a c
C in cin n a ti N o r t h e r n _______
C ieve Cin C h ic & St L o u is - P eoria & E a ste r n ________
C o lo r a d o & S o u th e r n _______
D e n v e r & R io G ra n d e ______
D e tr o it & M a c k in a c ...............
D e tr o it T o le d o & I r o n t o n . _
D u lu th S ou th Shore & A t l .
G eorg ia S ou th ern & F lo r id a
G ra n d T ru n k o f C a n a d a . .1
G ra n d T ru n k W e s t e r n ___ j
D e t G ra n d H a v & M llw . |j
C a n a d a A t la n t ic ________ j
G reat N o rth e r n , Inclu din g;
fc,
E a stern o f M in n e s o ta .I
M on ta n a C e n t r a l________ 1




lxxxv

In c r ea se . \ D ecrea se.

N a m e o f R oad.
1902.

1905.

July.

[V o l.

190 7.

In crea se.

$
y 2 ,376,931
4 7 ,7 2 4 ,6 2 7
36,919
5 ,2 4 8 ,9 2 0
4 ,5 1 6 ,5 0 0
41,6 5 3 ,0 5 1
7 ,0 4 5 ,8 0 3
98,564
5 ,0 8 3 ,5 4 0
3 ,3 3 6 ,1 0 3
1 ,7 3 4 ,7 2 3
2/4,958,962
5 6 3 ,9 4 0
1 4 ,7 5 2 ,2 3 2
1 ,6 7 6 ,5 9 7
7 ,7 5 6 ,7 6 7
1 2 ,4 3 2 ,8 7 7
795,591
2 ,4 1 4 ,5 2 9
1 ,9 4 5 ,3 4 8
1 ,3 6 8 ,4 3 0

2/2,117,360
4 5 ,3 2 6 ,4 9 6
31,7 5 9
3 ,7 7 4 ,3 3 1
3 ,4 7 3 ,7 0 0
3 6 ,1 6 9 ,7 8 2
6 ,4 6 9 ,8 7 2
88,6 9 8
4 ,9 3 2 ,8 0 3
3 ,2 7 3 ,7 9 4
1 ,312,341
2/4,897,069
564 ,114
1 3 ,5 0 5 ,8 8 2
1 ,7 0 6 ,1 9 3
6 ,6 5 6 ,2 1 1
1 1 ,1 4 1 ,0 0 2
708 ,3 8 8
2 ,3 3 2 ,9 9 2
1 ,7 4 3 ,7 4 1
1 ,1 7 7 ,1 9 0

2 5 ,0 4 0 ,6 1 4

2 2 ,5 1 6 ,4 6 7

2 ,5 2 4 ,1 4 7

2 9 ,1 5 2 ,0 8 5
1 ,5 6 6 ,2 6 8

2 7 ,5 3 1 ,6 3 0
1 ,6 2 2 ,5 2 2

D ecrea se.

1 ,6 2 0 ,4 5 5

259,571
2 ,3 9 8 ,1 3 1
5 ,1 6 0
1 ,4 7 4 ,5 8 9
1 ,0 4 2 ,8 0 0
5 ,4 8 3 ,2 6 9
575,931
9 ,8 6 6
1 50 ,737
6 2 ,3 0 9
4 2 2 ,3 8 2
61,893
174
1,246~350
29", 596
1 ,1 0 0 ,5 5 6
1 ,2 9 1 ,8 7 5
8 7 ,2 0 3
8 1 ,5 3 7
2 0 1 ,6 0 7
1 9 1 ,2 4 0

F A L L R IV E R M IL L D IV ID E N D S FO R N IN E M O N T H S
OF 1907.
The dividend record of the Fall River mills for the third
quarter of 1907 is more satisfactory than that for the pre­
ceding similar period, and in fact decidedly better than for
any recent quarter. Thirty-tw o of the thirty-four cotton m anufacturing corporations which furnish reports o f opera­
tions have declared dividends, the total am ount paid out
having been $664,850, or an average o f 2.7 0% on the capital
invested. Two mills declared no dividends and eight main­
tained last year’s percentage. The remainder make in­
creased distribution and in some instances the am ount thus
paid out to stockholders was conspicuously large. In 1906
the am ount distributed was $367,275, or an average of 1.61
in 1905 the am ount was $215,650, or an average o f 0 .9 9 % .
In 1904 tw enty 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 1.50% . In 1901 the
average percentage was 1.12% and in 1900 the average rate
of distribution was 1.8 1% . The exhibit in detail for the
third quarter of 1907 and 1906 is as follows:
Th ird Q uarter.
1907 and 1906.

A m e r ic a n L in e n C o _
A n c o n a M ills. . ______
A r k w r ig h t M ills _______
B a rn a b y M fg. C o ------B a rn ard M fg . C o .
B o r d e r C ity M fg . C o . .
B ou rn e M ills___________
C h a ce M i l l s ___ __ _____
C o n a n lcu t M ills. _ .
C ornell M ills . .
D a v is M ills
D a v o l M ills______ . . .
F lin t Mills . .
. . . .
G ra n ite M il l s __________
H arg ra v e s M ills____
K in g P h ilip M ills______
L a urel L a ke M ills______
M e ch a n ics’ M ills _______
M e rch a n ts' M fg . C o —
N a rra g a n se tt M ills ____
O sb o rn M ills. ________
P a rk e r M il l s ..
______
P o c a s s e t M fg . C o . ----R ic h a r d B o rd e n M fg .C o .
S a g a m o re M fg . C o ------S e a c o n n e t M il l s --------S h o v e M ills ___________
S ta ffo rd M ills ____
-S te v e n s M fg. C o .............
T e c u m s e h M ills----------T r o y C ot. & W . M fg.C o.
U n io n C o tto n M fg. C o .
W a m p a n o a g M ills ------W e e t a m o e M ills . ---------

D ivid en d s
1907.
C a p ita l.

D iv id en d s
1906.

I n c .(+ )

P .C . A m o u n t. P .C . A m o u n t. D e c . (— )

t $1
$
12,000 I X
8 00 ,0 0 0 1 V,
7,5 0 0 a l 'A
3 00 ,0 0 0 a7
6,750 1
4 50 ,000 1 H
350 ,000 N o d iv id e n d N o
9,900 1
495 ,0 0 0 2
7 0 ,0 0 0 5
1 ,0 0 0 ,0 0 0 7
15,000 1
1 ,0 0 0 ,0 0 0 m
18,000 61 ^
1 ,2 0 0 ,0 0 0 1W
4,5 0 0 1 '4
3 00 ,000 1
28,0 0 0 7
4 00 ,0 0 0 7
7,500 1 ^
5 00 .0 0 0
6,000 1 H
4 00 .0 0 0 1 H
23,200 1 H
5 80 ,0 0 0 d4
20,0 0 0 1 H
1 ,0 0 0 ,0 0 0 2
8 00 ,0 0 0 m
12,000 N o
1 ,5 0 0 ,0 0 0 1 H
22,5 0 0 el ^
600,000 2
12,000 f>2
750 ,0 0 0 2
15,000 1
800 ,0 0 0 1 H
12,000 1
4 00 ,0 0 0 2
4
8,0 0 0 1 V
7 50 ,0 0 0 1 U
11,250 1
800 ,000 1 >4
12,000 N o
1 ,2 0 0 ,0 0 0 l u;
18,000 fc1 ^
1 ,0 0 0 ,0 0 0 5
50,0 0 0 x l H
900 ,000 10
90,0 0 0 5
600 ,000 N o d iv id e n d No
550 ,000 1
5,500 1
1 ,0 0 0 ,0 0 0 1 «
15,0 0 0 1
10,500 1 ^
700 ,000 i u;
11,250 1 H
750 ,000 1 u;
18,000 6
3 00 ,000 6
9 6 ,0 0 0 1 H
1 ,2 0 0 ,0 0 0 8
7,5 0 0 1
750 ,000 l
1 0 ,000 iy *
500 ,0 0 0 2

T o t a l ------------------------- 2 4 ,6 2 5 ,0 0 0 2.70

6 6 4 ,8 5 0 (1.61

s
1 2 ,0 0 0
1,500
4 ,5 0 0
d iv id e n d
4 ,9 5 0
5 0 ,0 0 0
1 0 ,0 0 0
13,500
3 ,7 5 0
2 8 ,0 0 0
7 ,5 0 0
6,0 0 0
8,7 0 0
1 5 ,0 0 0
d iv id e n d
15.000
6,000
7 ,5 0 0
8 ,0 0 0
6 ,0 0 0
7 ,5 0 0
d iv id e n d
9 ,0 0 0
1 2 ,0 0 0
4 5 ,0 0 0
d iv id e n d
5,500
10,000
8 ,7 5 0
11,250
18,000
18,000
7,5 0 0
6,875

$
+ 6,009
+ 2,250
+ 4,9 5 0
+ 20,0 0 0
+ 5,000
+ 4,5 0 0
+ 750

+ 14,500
+ 5,0 0 0
+ 12,000
+ 7 ,5 0 0
+ 6,0 0 0
+ 7 ,5 0 0
+ 4 ,0 0 0
+ 2,0 0 0
+ 3,7 5 0
+ 12,000
+ 9,0 0 0
+ 3 8 ,0 0 0
+ 45,000
+ 5,000
+ 1,750
+ 78,0 0 9
+ 3,1 2 5

367 ,275 + 297.57S

a O n $10 0 ,0 0 0 p re fe rre d s to c k .
t> O n ca p ita l o f $ 90 0,00 0.
d 2 % regular
and 2 % extra ,
e O n c a p ita l o f $ 1 ,0 0 0 ,0 0 0 .
d O n c a p ita l o f $ 3 0 0 ,0 0 0 .
k O n ca p ita l o f $ 6 0 0 ,0 0 0 . x O n ca p ita l o f $ 8 0 0 ,0 0 0 . t O n c a p it a l o f
$ 2 2 ,7 7 5 ,0 0 0 .

5 6 ,2 5 a

• Com bining the foregoing results with those for the halfyear, we have the follow ing exhibit for the nine months. It
is seen that on a capitalization of $24,625,000 the mills have
paid out in dividends $1,790,275 in the nine months of the
present year, or an average of 7 .2 7 % , against 4.8 7% in 1 9 0'f

A

ug

. 17 1907.]

THE CHRONICLE.

2 .1 3 % in 1905, 3.0 6% in 1904, 4.3 6% in 1903 and 4.5 9% in
the like period o f 1902. In 1901 the average dividend was
4.2 8% ; in 1900 it was 6.25% ; and in 1899 it reached 3 .6 8 % .
V i n e M on th s.
1907 and 1906.

D ivid en d s
1907.

D iv id en d s
1906.

C a pital.
P .C . A m o u n t. P .C . A m o u n t.

I n c .(+ )
or
D ec .(— )

S
$
S
$
A m e r ic a n L in e n G o ___
800 ,000 4 H
36,000 4 ^
36,000
A n c o n a M ills___________
+ 7,500
300 ,000 1 0 ^
10,500 3
3,000
A r k w r ig h t M ills_______
4 50 ,000 4J4
20,250 3
13,500
+ 6,750
B a r n a b y M fg . C o ______
350 ,000 N o d iv id e n d N o d iv id e n d
B a rn ard M fg . C o .
495 ,000 5
24,750 3
14,850
+ 9,900
B o r d e r C ity M fg . C o . . 1 ,0 0 0 ,0 0 0 1 8 ^
185 ,000 8
8 0 ,0 0 0 + 105,000
B o u rn e M ills.
1 ,0 0 0 ,0 0 0 3 H
35,000 3
30,000
+ 5,0 0 0
C h a ce M il l s . .............I_ _
4 9 ,500 4 y2
+ 9,000
1 ,2 0 0 ,0 0 0 4 ^
40,5 0 0
C o n a n icu t Mills
13,500
300 ,000 4 ^
10,5 0 0
+ 3,000
C ornell M ills
4 4 ,000 i o y2
400 ,000 11
4 2 ,0 0 0
+ 2,0 0 0
D a v is M ills _ .
"
"I
22,500 4'A
500 ,000 4 M
22,500
D a v o l M ills
18,000 4 ^
4 00 ,000 4 y3
18,000
F lin t M ills.
4 6,4 0 0 4 A
580 ,000 8
+ 2 0 ,300
2 6 ,100
G ra n ite M ills___________ 1,0 0 0 ,0 0 0 5 «
55,000
45,0 0 0
+ 10,000
H a rg ra v es M ills ______
32,000 N o d iv id e n d
8 00,000 4
+ 32,000
k i n g P h ilip M ills........... 1 ,5 0 0 ,0 0 0 4 ^
67,500 4 A
4 5 ,0 0 0
+ 22,500
L a u rel L a k e M ills______
30,000 6
6 00 ,000 6
18,000
+ 12,000
M e ch a n ics’ M ills_______
37,500 3
7 50 ,000 5
22,500
+ 15,000
M e r ch a n ts ’ M fg . C o . . .
8 00 ,000 4*4
38,000 3
2 4 ,0 0 0
+ 14,000
N a rra g a n sett M ills ____
4 00 ,000
22,000 4 A
1 8,000
+ 4 ,0 0 0
O sb o rn M ills . . . . . .
7 50 ,000 4
30,000 3
2 2 ,500
+ 7,500
P a rk e r M ills___________
8 00 ,000 4
32,000 N o d iv id e n d
+ 32,000
P o c a s s e t M fg . C o ______ 1 ,2 0 0 ,0 0 0 4 «
3 6,000 4 A
2 7,0 0 0
+ 9,000
R ie h a r d B o r d e n M fg .C o . 1 ,0 0 0 ,0 0 0 ; 12
110 ,000 4 A
36,000
+ 7 4 ,0 0 0
S a g a m ore M fg . C o .:___
1 80 ,000 15
135 ,000
900 ,000 i20
+ 45,0 0 0
S e a c o n n e t M ills _______
6 00 ,000 N o d iv id e n d s N o d iv id e n d
S h o v e M ills .....................
5 50 ,000 3
16,500 3
16,500
StaffoSd M ills. ............... 1 ,0 0 0 ,0 0 0 a n
3 5 ,0 0 0 3
3 0 ,0 0 0
+ 5~,666
S t e /e n s M fg . C o _______
700 ,000 4 H
29,7 5 0 3 H
2 6 ,250
+ 3,500
T ecu m *3 h M ille _______
7 5 0 ,0 0 0 4 } *
3 3 ,7 5 0 4
2 6 ,2 5 0
+ 7,500
T r o y C ot. & W .M fg .C o .
300 ,000 57
1 71 ,000 14
4 2 ,0 0 0 + 129 ,000
U n io n C o tto n M fg . C o . 1 ,2 0 0 ,0 0 0 2 3 ^
282 ,0 0 0 17
2 04 ,000
+ 7 8 ,0 0 0
W a m p a n o a g M ills____
750 ,0 0 0 3
22,5 0 0 1
7 ,5 0 0
+ 15,000
W e e ta m o e M ills_______
500 ,000 4 %
24,375 3 A
19,2 5 0
+ 5,125
M
T o t a l .............................. !4 ,625 .000 7.27 1,790,275 4.87 1,101,700 + 688 ,5 7 5

_

___
_

___

383

The Commissioner this week held a conference with
G overnor Edwin S. Stuart of Pennsylvania on the m atter,
which resulted in the issuance of the follow ing tele­
gram from Harrisburg: “ Banking Commissioner Berkey
had a conference with Governor Stuart last night, as the re­
sult of which the Governor believes the reserve fund question
will shortly be adjusted satisfactorily to the business and
banking interests. Mr. Berkey will likely return in a few days
from Pittsburg. The expectation is that his unpopular
p olicy will then be revoked and the bankers will be perm itted
to transact business w ithout further interference on the
part o f the Commissioner.”
— The Georgia State Senate on M onday passed b y a vote
o f 32 to 0 the bill which passed the House on July 29, provid­
ing for the creation of a Bureau o f Banking in Georgia, to
which reference was made in this departm ent last Saturday.
Several amendments to the measure were proposed in the
Senate, bu t not urged, in the fear that they m ight endanger
the passage of the bill when referred back to the H ou se.
— The San Francisco Clearing-House Association trans­
acted its first d a y ’s business in its new and permanent quar­
ters at Pine and Liedesdorff streets on the 8th inst. The
association occupies the main floor of the building. For
thirty years, or from its opening date, which occurred in
1876, until the fire and earthquake of April 1906, the Clear­
ing-House had its headquarters at California and Sansome
streets. Since the destruction o f the building in last year’s
catastrophe it had been occu pying tem porary quarters.

ITEMS ABOUT BAN K S, B A N K E RS AND T RUST CO’ S.
— The sales o f bank stocks at the Stock Exchange this
week aggregate 68 shares. No bank or trust com pany stocks
were offered for sale at auction.

— A t a meeting of the directors of the Irving National E x ­
change Bank o f this city on Tuesday, Jacob H . Schoonm aker,
Secretary of the Butler Brothers, In c. (wholesale general
m erchandise), was elected to the board.

Sh ares. B A N K S — N ew Y o r k .
L o w . H ig h . C lose.
15 N a tio n a l C ity B a n k _ _ ............. 250
250
250
53 N a t. B a n k o f C o m m e r c e ______ 165
169
165

• W e are inform ed b y good authority that there is nothing
—
in the negotiations reported to have been in progress b y large
interests in the Bankers’ Trust C o., 7 W all Street, to acquire
control of the United States Mortgage & Trust Co. o f this
city.

L a st p reviou s sale.
A u g . 1907— 252
A u g . 1907— 170

— W e gladly make room for the following letter from John
R . Walsh of Chicago, with regard to the paragraph published
in this department last week anent the settlement made by
the W alsh banking institutions with the Chicago ClearingHouse for moneys loaned by the latter at the time of the
suspension of these institutions in Decem ber 1905. It will
be observed that Mr. Walsh states that these institutions are
» o longer indebted to the Clearing-House in any manner,
the whole of the original advances (which would appear to
have been in the neighborhood of $15,000,000) having been
repaid.
A u g u s t 12th 1907.
T h e C om m ercial and F in a n c ia l C h ron icle, N ew Y o rk C ity .
G en tlem en :— C a llin g a tte n tio n t o ite m a p p e a r in g at fo o t o f se c o n d c o lu m n ,
p a g e 320 , In y o u r Issue o f A u g u s t 1 0 th , 1 b e g t o s a y t h a t , u n d e r th e re ce n t
s e ttle m e n t m a d e w ith th e C h ica g o C le a rin g -H o u se b a n k s , c e it a ln se cu rities
w ere sold an d th e p r o c e e d s used t o p a y in full all sum s a d v a n c e d b y the
C le a rin g -H o u s e b a n k s in c o n n e c tio n w ith th e s o -ca lle d “ W a lsh b a n k in g
In s titu tio n s —-the C h ica g o N a tio n a l B a n k , th e E q u ita b le T ru s t C o m p a n y
a n d th e H o m e S a v in gs B a n k .”
T h e b a la n ce o f se c u iltle s held b y th e
C le a r in g -H o u s e b a n k s w ere retu rn ed t o th e t h ie e In stitu tio n s last m e n tio n e d ,
a n d at th e p resen t tim e said In stitu tio n s are n o t in d e b te d t o th e C learingH o u se b a n k s, o r o th e rw is e , In a n y sum w h a ts o e v e r , b u t h a v e In th eir
possession assets w h ich are e x p e c t e d t o realize b o o k va lu e fo r th e ir r e s p e c tiv e
s to c k h o ld e r s .
A p o r tio n o f th e assets realized u p o n as a b o v e sta te d w ere b o u g h t b y J . R .
W a lsh & C o . , w h o n e g o tia te d a lo a n t o c o v e r th e sa m e ; b u t th is is a p e rso n a l
m a tte r w ith w h ich th e W alsh b a n k in g In stitu tio n s h a ve n o c o n n e c t io n .
I t seem s t o m e th a t th e fo r e g o in g fa c ts sh o u ld be c le a rly p re s e n te d , so as
t o c o r r e c t th e erro n e o u s im p re ssio n c re a te d b v y o u r item o f th e 10th .
Y o u r s t r u ly ,
JO H N R . W A L S H .

Every one will rejoice that Mr. W alsh, with indomitable
pluck, has succeeded in surmounting his difficulties— that
his banks, besides wiping out their indebtedness to the Clear­
ing-H ouse, still have in their possession assets which are ex­
pected to realize book value for their shareholders.
— The ruling of Pennsylvania State Banking Commissioner
Berkey in the m atter of depositories for reserve funds,
alluded to on page 319 of the “ Chronicle” of last week, has
led to the adoption of the following recom mendation b y the
special committee appointed b y the Pittsburgh Clearing
House to consider the Commissioner's action:
" T h is c o m m itte e su g gests t h a t y o u s h o u ld a t o n c e w rite t o e a ch S ta te
b a n k an d tru s t c o m p a n y d o in g business w ith y o u r in s titu tio n , ca llin g
a tte n tio n t o th e n ece ssitie s o f th e case a n d th e harm t h a t w ill be w o rk e d
sh ou ld th is ra d ica l a c t io n o f th e B a n k in g C om m issio n e r be ca rried o u t , as
w ell as th e d a n g e i , n o t o n ly t o th e b a n k in g in te re sts o f th e citie s , b u t t o
th e S ta te b a n k s and tru st c o m p a n ie s t h e m s e lv e s , an d t o th e p u b lic at la rge,
a sk in g th em t o use th e ir b est in flu en ce w ith th e C o m m issio n e r o f B a n k in g
t o ch a n g e his ru lin g o n th is p o in t .
. . . T h is m a tte r Is so im p o rta n t
In th e e y e s o f th e c o m m itte e t h a t it feels t h a t , be sid e s w r itin g t o th e tru st
c o m p a n ie s a n d S ta te b a n k s d o in g bu sin ess t h r o u g h y o u , y o u sh o u ld use
y o u r in flu en ce p er so n a lly w ith th o se In p o w e r at H a rrisb u rg , as w ell as
th r o u g h y o u r business a s s o cia te s , t o h a ve th is r u lin g o f th e C o m m issio n e r
a n n u lle d , an d w e c a n n o t im p ress u p o n y o u t o o s t r o n g ly th e n e c e s s ity o f
Im m ed ia te a c t io n In th is c a s e .”

The report of the com m ittee, the Pittsburgh “ Press”
states, is signed b y Wilson A . Shaw, T. H . Given and Charles
M cKnight.




— The additional capital of the New Y ork County National
Bank o f this city , to the am ount o f $300,000, has been listed
on the New Y ork Stock Exchange, m aking the total am ount
listed $500,000. The proposition to increase the capital
from $200,000 was ratified in June, and a special equalizing
dividend of 150% was declared out of surplus on July 23,
this applying as paym ent for the additional stock.
— The annual convention of the Associated Chapters o f
the Am erican Institute of Banking takes place at D etroit
on Thursday, Friday and Saturday o f next week, the 22d,
23d and 24th inst. Am ong those who will address the con ­
vention are W illiam B. T hom pson, Mayor of D etroit; Edwin
D enby of the same city; J. C. Monaghan, one time professor
in the Universitj'- of W isconsin, late Chief of Division o f Con­
sular R eports, Departm ent o f Commerce and Labor, and
J. J. Sullivan, President of the Central National Bank of
Cleveland, Ohio. The President o f the institute, Fred. A .
Crandall, Assistant Cashier of the City National Bank of
Chicago, will preside at the convention. The New Y ork dele­
gation leaves on the 8 o ’ clock train Tuesday night, A ug. 20,
over the New Y ork Central & Hudson River R R . to Buffalo
and thence via the Michigan Central R R ., arriving in D etroit
at 2:30 p. m . W ednesday.
— George Lane, Vice-President of the North W ard National
Bank of Newark, N. J., died on the 11th inst., at the age of
eighty-three years. Mr. Lane had been a director of the in ­
stitution since 1882 and its Vice-President since 1892.
— The contract for the erection o f the new building o f
the First National Bank of A lban y, at 35-37 State Street, has
been awarded to the M. L. R yder Building Co. The site is
that form erly occupied b y the First National. Since its
consolidation, however, with the National Exchange Bank
in April, it has been oonducting business in the offices of the
latter, where it will remain until the com pletion of its new
home about May 1 next. The proposed building will be
seven stories high, the bank occupying the three lower floors.
The facade will be of white Vermont granite, with trimmings
of bronze. The cost of construction will be in the neighbor
hood o f $125,000.
— The Farmers’ National Bank of Boyerstow n, P a., w h ich
was closed b y the Com ptroller of the Currency on Ju ly 2 0 ,

384

THE CHRONICLE.

resumed business on the 12th inst. The requirements of
Com ptroller R idgely that all doubtful securities be replaced
b y cash were com plied w ith, this necessitating the raising
o f $70,000, of which the directors contributed $30,000 and
the stockholders $40,000, the latter being assessed $80 per
share on the $50,000 capital.
— The yearly dividend disbursements of the Fidelity Title
& Trust Com pany o f Pittsburgh have been increased from
16 to 20% , with the declaration last week of a quarterly
dividend of 5% against 4% previously. The institution,
which has a capital of $2 ,000,000 and surplus and profits
o f over $5,000,000 raised the yearly rate from 12 to 16% in
N ovem ber 1903.
— The Comptroller of the Currency has approved an appli­
cation to organize the Carnegie National Bank of B raddock,
Pa. The capital is to be $100,000.
— Edward J. H erzog, for thirty-three years identified with
the German National Bank of Cincinnati, died on the 7th
inst. Mr. Herzog was Vice-President of the institution at
the time of his death.
— In its fifteenth annual statement issued under date of
July 31 1907 the Am erican Guaranty Com pany of Chicago
reports surplus and profits of $723,387, as com pared with
$677,443 a year ago, and total resources of $2,279,314. The
institution has a capital of $500,000. Its officers are:
Frederick M. Steele, President; Charles I;. Furey, VicePresident; Lewis W . Pitcher, Secretary, and James L. Bige­
low , Treasurer.
— 'George M. Reynolds, President of the Continental
National Bank of Chicago, has been elected to succeed the
late James H. Eckels as a member of the Chicago ClearingHouse Com mittee.
— The Chicago Clearing House Ass’n has approved the
application for membership in the Clearing House made b y
the National City Bank o f C hicago, which opened for business
in February of the present year.

[V o l .

lxxxv

.

President of the Vandeventer Trust Com pany o f St. Louis,
the latter having retired because o f his inability to give the
needed attention to the diverse duties of his professional
practice and those as head of the institution. He remains
as a director and has also been made a Vice-President of the
com pany, taking the place previou s^ held b y the newlyelected President. Floyd Shock has also becom e a VicePresident of the institution, and H. P. Hilliard, Vice-Presi­
dent of the Mechanics’-American National Bank o f St. Louis,
has been elected to the board of the trust com pany. The
Vandeventer Trust began business in May 1906.
— The stockholders of the First National Bank of Colorado
Springs, C ol., on July 15 approved a proposition to increase
the capital from $ 100,000 to $200,000 and the surplus to
$300,000. The new stock was divided pro rata am ong the
old stockholders. The enlarged capital, which became
operative a few days after the shareholders’ meeting, was paid
for out of undivided profits.
— R . M. Rogers, M. D. Chapman and William B abcock of
the New Y ork Stock Exchange house of E. R . Chapman &
C o., 80 Broadw ay, are organizing the new First National
Bank of Goldfield, Nevada, with $200,000 capital and $50,000 surplus, the shares selling at $125. The projectors state
that there is need for a national bank in Goldfield, because its
population is now almost 20,000, the gold mines are produc­
ing $500,000 weekly and the township has becom e a perm a­
nent business centre. There is no national bank at present
in Goldfield; its banking institutions include the TonopahGoldfield Trust, John S. Cook & Co. (deposits $1,500,000),
and branches of the Nye & Ormsby County Bank of Carson
City and the State Bank & Trust Co. of Carson City.
— The reopening of the People’s National Bank of G allatin,
Tenn., which we noted last week was authorized b y the Com p­
troller of the Currency, occurred on the 7th inst. The bank
was closed on July 18.

— J. Merrick Frere, representing a group of Norfolk in­
vestors, is conducting negotiations with a syndicate o f New
— Control of the Federal National Bank of Chicago, ac­ Y ork capitalists represented by Dan Danehy & Co. of 25
cording to an announcement made on W ednesday, has passed Broad Street, this city , for the organization of a new trust
into the hands of a syndicate o f which John W orthington com pany in N orfolk, Va. The projected institution, to be
o f Kansas City is the head. President Isaac N. Perry and known as the Chesapeake Trust C o., has received a charter
his associates, it is said, have transferred their entire interests from the State Departm ent in Virginia, and when organized
to the new owners. W ith the change in ownership the fol­ will have $800,000 capital and $200,000 surplus, the stock
low ing have been elected to direct the affairs of the institu­ to be issued at $125 per share. The presidency of the com ­
tion: President, Edward C. Brainard; Vice-President, John pany has been offered to James N. Barr, President of the
W orthington; and Cashier, Charles J. L. Kressman. The Jamestown E xposition C o., ex-President of the Seaboard
directors are, besides the President and Vice-President: Air Line and form erly Vice-President of the Norfolk &
W alter R . Michaelis, Frank L. R oenitz, P. D . McGregor Western R R . Co. The Chesapeake Trust Co. will be estab­
and C. H . W ilcox . Mr. Kressman was the Cashier under lished on the lines of the Title Guarantee & Trust Co. of New
President Perry. The Federal National was organized in Y ork City, and will do a title guaranty and insurance business
1905 by Mr. Perry, who had previously been President of in the South, besides a general banking business.
the National Bank of North Am erica, which latter was sold
— Charles R . Clark, heretofore Assistant Cashier of the Na­
to the Continental National Bank of Chicago in O ctober tional Bank of Augusta at Augusta, G a., has been elected
1904. The opening of the Federal National occurred on Cashier of the institution to succeed F. G. Ford, who resigned
O ctober 16 1905. It started with a capital of $500,000 and
because of ill health.
surplus of $50,000, both of which still stand at these figures;
— The “ Los Angeles Financier” states that N. Blackstock,
there are also undivided profits (May 20 1907) of $27,935.
form er Bank Commissioner, has becom e Trust Officer o f the
The deposits are about $1,300,000. Mr. W orthington, who
Merchants’ Trust Com pany of Los Angeles.
is reported to be at the head of the syndicate acquiring con­
— The Imperial Bank of Canada (head office T oronto) has
trol, is a Vice-President of the National Bank of the Republic
issued its thirty-second annual report, of date April 30 1907,
o f Kansas City, Mo.
in pamphlet form , designed in especially neat and attractive
— The new National Produce Bank of Chicago, which is
shape. The report was referred to in these colum ns on June
shortly to begin operations at 132 Lake Street, is to have as
its head Edwin L. W agner, an Assistant Cashier of the 8 .
American Trust & Savings Bank. Mr. W agner was elected
to the post last week, at which time Frank Collins was chosen
Assistant to the President and Ralph M. Ballou was elected
(From our ow« correspondent.)
Assistant Cashier. It has been decided to raise the capital
London, Saturday, August 3 1907.
o f the bank from $200,000 to $250,000. The surplus will be
Stock markets continue discouraged and depressed. Two
$50,000.
incidents this week have made a very unfavorable impression.
— Oscar R . Brooks, form erly Auditor of Jackson County,
The first of these was the quite unexpected appearance on
In d ., has been appointed Receiver of the People’s State Bank
M onday in the gold market of one of the German banks as a
of Brownstown, In d ., which closed its doors on the 3d inst.
com petitor with the Bank of England for the gold there
-—It is reported that the creditors of the Minnesota Title offering. About a million sterling was for sale. The Ger­
Insurance < Trust Com pany of Minneapolis, which was closed man bank carried aw ay about half the am ount. The Indian
k
b y the State Banking Departm ent on March 26, have lately banks and trade obtained about £ 200,000, so that only
received a 20% dividend.
about £300,000 was left for the Bank of England. As the
— The St. Louis “ G lobe-D em ocrat” announces that W il­ Bank of England had had the market to itself for some time
liam W . Henderson has replaced Dr. W . A . McCandless as past, it probably became too confident and did not take the




tictargi <£omm ercia i H nfllisfrIXctus

A

ug

. 17 190 <.j

necessary measures to secure the very large am ount which
was on offer. H owever that m ay be, the city was unfavor­
ably impressed b y the incident. It is said “ here was a rare
opportunity to add a million sterling to the reserve of the
Bank of England and it has been lo s t.”
It is n ot known for what country the metal was secured.
The Imperial Bank o f Germany undoubtedly requires to
strengthen its reserve. But at the present rate of exchange
there would be a loss of about 3 % upon the purchase, and
^
most people refuse to believe that the Imperial Bank of Ger­
m any has subm itted to a loss of £2,500 to secure the gold.
It is suggested in some quarters that it has been bought
for the Austro-H ungarian Bank, which some time ago lent
gold to the Imperial Bank of Germ any. A third suggestion
is that the gold has really gone to Russia. All that is known
for certain is that less than one-third o f the am ount offered
•n M onday has been secured b y the Bank of England.
The second unfavorable incident was the fall early in the
week of consols to less than 82*^. It is the lowest quotation
yet touched, and it has made a deep impression. A t first
the report was that the selling came from the Continent.
But the foreign banks in London declare that the Continent
has n ot been selling; on the contrar3r, that it has been buying.
Indeed, it seems from all the inform ation we can obtain that
the Continent sold out its consols long ago and is not now in
a position to sell on an im portant scale. The explanation
generally received as the week draws to a close is that the
selling was b y underwriters w ho, it will be recollected, have
been left with very large proportions of the various issues
that have been brought out recently.
All the issues yield very much higher returns than consols,
and m any of them have the guaranty o f great governm ents.
For exam ple, the Indian Governm ent guaranteed an Indian
railway loan, and the Japanese Governm ent guaranteed a
Manchurian railway loan. The belief is that the under­
writers, thinking the new issues so excellent, expected
that the subscriptions for them would be very large, and
therefore did n ot make preparations for a failure. If that
be so, the selling has no real significance. It was the tem ­
porary throwing upon the market o f an unexpectedly large
block o f consols, which for a day or tw o sent quotations lower
than they were even in the semi-crisis of a few months ago.
Since the low est point was reached there has been a recovery,
and now there is a decidedly better feeling in all departments
than there had been earlier in the week, although there is
exceedingly little doing anywhere, and as the holiday season
has set in there is unlikely to be much business for the next
six or seven weeks. In Paris there is almost as much slack­
ness as in London, and in Berlin business is almost totally
suspended.
The m oney market is difficult to gauge at the m om ent
because the joint-stock banks are in the habit of calling in
at the end o f every m onth large am ounts o f loans to make it
appear that they habitually hold larger reserves than they
actually do. Furthermore, the market has been rendered
som ew hat more active b y ,th e Stock Exchange settlement.
Moreover, the Stock Exchange is closed to-d a y, and Monday
will be a bank holiday. Therefore, preparations have been
made on a great scale until the middle of next week. Even
next week the market may not have com pletely settled down.
But it is to be recollected that holiday-m aking will take a
good deal o f m onejr ou t of London. Trade, m oreover, is
exceedingly active, and it is possible, therefore, that grad­
ually rates may work up, especially as the fear is strong
that m oney will shortly becom e very scarce and dear in
Berlin. The hope is entertained that India will not need
to take nearly as much gold between now and Christmas as
it took last year; consequent! j*-, that India will not interfere
so much with the course of events here. But it is feared that
the Egyptian demand may be large. A t the m om ent, al­
though the m ovem ent of the cotton crop will begin in four
or five weeks, the Egyptian exchange Upon London is so high
that a very little further advance would make it profitable
to ship gold to London. The best opinion, however, is that
old will not be shipped because o f the near approach of
arvesting. The Egyptian banks at the time of the crisis
trengthened themselves greatly against all contingencies.
Now it is seen that there is no danger of a run, as the crisis
has checked all speculative business. For the mom ent,
therefore, mone}' is over-abundant in E gypt. In five or




385

THE CHRONICLE.

six weeks, how ever, the m ovin g of the crops will give rise
to a strong dem and, and it w ould seem to follow that as the
banks are so well supplied, E gyp t will n ot need to draw so
heavily upon Europe as she has done for some years past.
Against this, however, it is to be remembered that a great
m any houses in E gypt have been affected b y the late cris is;
that m any which showed no weakness are suspected; and
that therefore the banks m ay n o t be inclined to give as
much accom m odation as they have usually done. In that
case it m ay even yet becom e necessary to ship gold in con ­
siderable am ounts from London to E gyp t. Should that hap­
pen and the Egyptian demand upon L on don be very heavy,
m oney w ould becom e so exceedingly scarce here and dear in
Germany that Germ any m ay have to obtain gold; and as
recent shipments of gold from the United States to Paris
have weakened the New Y ork market, probably New Y ork
will have to draw heavily upon E u rope. The prevailing im ­
pression, therefore, in the best quarters in London at present
is that m oney will be both scarce and dear in the autumn.
The India Council offered for tender on W edn esday 40 lacs,
and the applications exceeded 3 5 2 ^ lacs, at prices ranging
from Is. 4d. to Is. 4 l-16d. per rupee. A pplicants for bills
at Is. 4 l-32d. and for telegraphic transfers at Is. 4 l-1 6d.
per rupee were allotted about 7 8 % o f the am ounts applied for.
The follow ing return shows the position of the Bank of
England, the Bank rate o f discount, the price o f consols, & c.,
com pared with the last four years:
1907.
Ju ly 31.
£
29,922,270
8,664,699
43,406,967
16,082,513
29,713,386
24,367,412
35,839,682

1906.
A u g. 1.
£
30,577,825
9,492,805
42,394,893
15,977,133
29,420,538
24,629,187
36,757,012

1905.
A u g. 2.
£
30,072,720
9,790,370
43,357,654
16,752,444
29,185,888
25,261,435
36,884,155

1904.
A u g. 3.
£
29,278,235
6,027,370
41,735,322
15,703,766
26,864,809
23,282,258
34,110,493

1903.
Aug. 5.
£
30,691,345
6,286,261
39,937,022
15,338,622
25,902,537
23,109,341
35,024,686

C ir c u la tio n ..............
Public deposits____
O ther deposits_____
G overnm ’t securities
Other securities____
Reserve,notes &coln
C o in * b u .,b oth d e p .
Prop, reserve to lia­
bilities............p. c.
46^
47 7-16
47 7-16
48%
49%
Bank rate_____ p. c.
4
3%
2%
3
3
Consols, 2% p . c . . .
83%
87 9-16
90 5-16
87%
90 13-16
30 l-1 6 d .
27% d.
-27d.
25% d.
S ilv e r ......................... 31 15-16d.
Clear.-house returns 256,139,000 272,380,000 276,003,000 197
272,380,000 276,003,000 197,842,000 176,492,000
ear.-house

The rates for m oney have been as follows:
Ann 2.
Au g. 9
Bank of England r a t e ., ____ __________4
Open Market Rale—
Bank bills— 3 m onths____ 3 1 -1 6 @ 3 U
— 4 m onths____________ 3%
• 6 m onths____ ________ 4%
—
Trade bills— 3 m onths____
4@43-£
— 4 m onths____
4X
Interest allowed for deposits—
B y joint-stock banks_____ ________ 2 %
By discount houses:
A t c a l l ............................... ................2 %
7 to 14 days.......................................2 %

Tula 26.
July
4
3 9 -1 6 @ 3 %
3% @ 3%
4@ 4%
3M @4
4@ 4X
2%
2X
2%

Tn. uly 19J
4

July 12.
4

4 9-16(34% 3 9-16
3?£@ 3%
3 11-16
4%
4
3^@ 4
4
4
4@ 4X
2%

2%
2)4
2%

2%
2%

The Bank rates of discount and open market rates at the
chief Continental cities have been as follows:
A ug. 2.
July 26.
July 19.
Rales oj
Batik Open
Bank Open
Bank Open
Interest at—
Rate. Market. Rale. Market. Rate. Market.
P a r i s ............................. 3%
3X
3X
3%
3%
3H
Berlin________________ 5 X
4%
5%
414
5J4
*X
H a m b u r g ....................
5X
4X
5V
S 4X
5%
4X
F r a n k fo r t___________
5 X 4 7-16
5% 4 5-16
5% 4 9-16
Amsterdam _________ 5
4%
5
4X
5 4%
Brussels ....................... 5
4X
5
4X
5 4%
Vienna _____________
5
4%
5
4%
5 4^
St. P etersbu rg............ 7
7
7
4X
4
4X
4
4X
4
M a d r id _____________
C o p e n h a g e n _________ 6
5X
6
5X
6 5X

July 12.
Bank Open
Rate. Market
3%
4%
W
4%
5%
4%
5% 4 7-16
5
4%
5
4%
5 4 9-16
7
4X
4
6
5X

Messrs. Pixley & Abell write as follow s under date of
August 1:
G O LD .— An unexpected order for the Continent, supposed b y some to be for
Germany on Austrian account, put the price of gold up suddenly this week and the
Bank was only able to secure about £450,000 out of the £1,000,000 which arrived:
the remainder being token by the Continent and India. This week’s Bank move"
ments are as follows: £289,000 has been received in bars, while £ 7 ,0 0 0 has been
withdrawn for Brazil. £303,000 is expected from the Cape next week. Arrivals—
Cape, £967,000: West Africa, £77,000; total, £1,044,000. Shipm ents— B om bay,
£82,000; Colom bo, £2,000; Calcutta, £5,000; total, £89,000.
S IL V E R .— We have to report a further rise in silver of 7-16d. during the week.
The features are the same, continued buying for the Indian Government, some
orders for the Bazaars, and "bear” covering, while supplies are very small; the
American Government being a more active purchaser. W e close 32 l-1 6 d ., steady,
with forward l-1 6 d . below cash. Price in India Rs. 81 per 100 tolahs. Arrivals—
New York, £156,000; Chile, £5,000; total, £161,000. Shipments— Bom bay,
£52,040; Calcutta, £84,800; total, £136,840.
M EX ICAN D O L L A R S.— There have been
their melting value.

further transactions in dollars at

The quotations for bullion are reported as follows:
GOLD .
London Standard.
Bar gold, fine, o z .........
U . S. gold coin, o z ____
German gold coin, o z .
French gold coin, o z . .
Japanese yen, o z _____

A u g. 2. Ju ly
s. d.
s. d. j
77 10% 77 9 X
76 5% 76 5
76 5 X 76 5
76 5% 76 5
76 5 X 76 5

26. |
S IL V E R .
Au g. 2. July 26
London Standard.
d.
d.
I Bar silver, fine, 02. . .32 1-16
31%
| “ 2 m o. delivery, oz_32
31%
|Cake silver, o z ...............34%
34%
|Mexican dollars.............nom .
num.
|

386

THE CHRONICLE.

The follow ing shows the im ports o f cereal produce into
the United K ingdom during the season to date, compared
w ith previous seasons:
IM PO RTS.
Forty-eight we»ks.
1906-07.
1905-06.
1904-05.
1903-04.
Im ports of wheat, cw t...................... 86,513,652 85,380,990 96,333,400 84,662,736
Barley __________________________ 18,652,434 19,426,800 19,904,600 29,843,726
O ats___________ _____ _____________9,S77,414 14,540,900 15,731,800 13,940,894
1,602,775
2,076,895
2,184,670
Peas______ _________________ ______ 1,596.770
B e a n s ____ _____ _________________
401,110
572,360
1,397,620
2,008,468
Indian corn_______________________ 45,962,470 42,058,300 37,144,750 43,699,967
F l o u r ................ . ...............................12,422,072 13,437,170 10,173,320 18,030,343

[V o l.

lxxxv

.

L IQ U ID A T IO N S .
8 ,2 1 2 — T h e F in d la y N a tio n a l B a n k , F in d la y , Illin o is, w as p la c e d In v o lu n ­
ta r y liq u id a tio n J u ly 17 1907.
8 ,4 2 7 — T h e H a m lin N a tio n a l B a n k , H a m lin , T e x a s , w as p la c e d in v o lu n ta r y
liq u id a tio n A u g . 1 1907.
695— T h e S e c o n d N a tio n a l B a n k o f J ersey C ity , N e w J e rs e y , w as p la c e d ia
v o lu n ta r y liq u id a tio n A u g . 1 1907.
R E S U M P T IO N O F B U S IN E S S .
5 ,5 4 5 — T h e P e o p le ’ s N a tio n a l B a n k o f G a lla tin , T e n n e sse e , p la c e d In ch arge
o f a r e c e iv e r o n J u ly 18 190 7, re su m e d busin ess A u g . 7 1907.

D IV ID E N D S .
The following shows all the dividends announced for the
Supplies available for consum ption (exclusive of stock on future by all large or im portant corporations:
September 1):
Dividends announced this week are printed in italics.
1906-07.
W heat Imported, cw t................ .. 86,513,652
Im ports of flour............................... 12,422,072
Sales of hom e-grown____________ 33,860,788

1905-06.
85,380,990
13,437,170
27,664,368

1904-05.
96,333,400
10,173,320
13,626,017

1903-04.
84,662,736
18,030,343
16,813,436

Total ............................................ 132,796,512 126,482,528 120,132,737 119,506,515
Average price wheat, w eek______
32s. l i d .
30s. 5d.
32s. 3d.
28s. Od.
Average price, season....................
27s. 7d.
28s. 9d.
30s. 8d.
27s. 2d.

The follow ing show s.the quantities o f wheat, flour and
maize afloat to the United K ingdom :
This week.
W h e a t ....................................— q r s ./
Flour, equal t o ................ .......... qrs. 12,540,000
Maize .......................................... qrs. 1,000,000

Last week.
J2,620,000
\ 145,000
1,000,000

1906.
2,509,000
131,000
1,160,000

1905.
2,445,000
75,000
1,140,000

English Financial M arkets— Per Cable.
The daily closing quotations for securities,& c., at London
as reported b y cable have been as follow s the past week:
London,
W eek ending A u g. 16.
Sat.
M on.
Tues. W ed.
Thurs.
F rl.
S ilv e r,p e r o z _____________ d . 31 11-16 31 5-16 31%
32% 311 3-1 6 3113-16
Consols, new, 2% p e r c e n ts .. 8181 5 -1 6 .8 1 11-16 81 13-16 81%
81%
F oraccou n t______________ 81% 8 1 7 -1 6 81%
8113-16 81%
81%
French Rentes (In P a rts).fr. 94.87% 94.52% 94.52% 94.60
94.50
73
73%
73%
73
72
Russian Imperial 4s________ 73%
do
do
New 5s___83%
83
83%
83%
83%
83
Amalgamated Copper C o____ 78%
76
74
76%
71
71%
9%
9%
9%
8%
9%
6 Anaconda Mining C o______ 10%
Atchison Topeka & Santa Fe 90%
86%
86 %
88
84%
87%
Preferred ............................. 94
94
93
92
93
93
Baltimore & O hio....... ............ 97%
95%
93%
94%
c90%
91%
Preferred ________________ 88
88
88%
88%
c86%
86%
Canadian Pacific____________ 171
169
170
171%
167%
170%
Chesapeake & O h i o _________35%
34
34%
35%
34
34
Chicago Great Western_____ 11
10%
10%
10%
10%
10%
Chicago Miiw. & St. P a u l...1 2 8
124%
124%
126
122
126
D e n v e r * R io Grande, c o m .. 28
27%
25%
27%
27
24
Preferred .........................__ 72
72
71
70%
70
70
Erie, com m on______________ 23%
21%
21%
22%
20%
21%
First preferred ___________ 59
56
54
53%
52%
54%
Second preferred__________ 40
38
35%
35
36%
36%
Illinois Central_____________ 141
140
134
136
134
136
Louisville & Nashville______ 111
109
107
109
108
108%
Mexican Central____________ 20%
20
,,18
18%
18
18
Missouri K an. & Tex., c o m .. 37%
35%
33%
35%
34
34%
Preferred ________________ 67
67
64
65
64
63
National R R . of M exico____ 52
51%
50
49%
49
49
N . Y . Cent. & H ud. R i v e r . .I l l
108%
107
107
104
106% .
N . Y . Ont. & Western, c o m . 34
33%
32%
33%
32
32
Norfolk & Western, com ____74%
71%
71%
72
71%
73
Preferred _________ _______ 85
85
85
85
84
84
Northern Pacific____________ 127%
123
120
123
118%
120
a P en n sylva n ia .......................61%
60%
60
60%
59%
60%
a Reading C o______________ 48%
46%
46
46%
44%
46%
a First preferred__________ 41%
41
41
41
41
41
a Second preferred_______ 41
40%
40
40
40
40
R ock Island C o_____________ 20%
20
19%
19%
18%
18%
Southern Pacific____________ 87%
83%
84%
85%
82%
85%
Southern Railway, com m on. 18%
18%
17%
17%
17%
16%
Preferred ________________62%
61
59
57%
58%
57
Union Pacific, com m on_____ 135%
129%
130%
131%
125%
130
Preferred ________________84%
84
84
84%
80
82%
U . S. Steel Corp., c o m m o n .. 3354
32%
32
32%
30%
32%
Preferred ______________ .1 0 1 %
100
98%
99%
94%
96%
12%
11
12
12
11%
W abash ___________________ 12%
Preferred ________________23%
23%
22%
22
22
21
Extended 4 s _____________ 59%
59%
59%
56
56%
56%
a Price per share.

6 £ sterling, c E x-dividend.

§ 0mrxercial and IWsccllaiieo visJtciu*
National B anks.— The follow ing inform ation regarding
national banks is from the Treasury Departm ent:
N A T IO N A L B A N K S O R G A N IZ E D .
C ertifica tes Issu ed fro m A u g . 5 1907 to A u g . 9 190 7, In clu sive.
8 .8 2 3 — T h e M cC o o k N a tio n a l B a n k , M c C o o k , N e b r a s k a .
C a p ita l, $ 50 ,000 .
P . W a ls h , P r e s id e n t; C. F . L e h n , V ic e -P r e s id e n t; C. J . O ’ B rien ,
Cashier.
8 .8 2 4 — T h e F irst N a tio n a l B a n k o f A s p ln w a ll, P e n n s y lv a n ia
C a pital,
$ 2 5 ,0 0 0 .
L . A . B u rn e tt, P r e s id e n t; J o h n J. F r e y , V ic e -P r e s id e n t;
J . L . S h a k e ly , C ashier.
8 .8 2 5 — T h e G rov es N a tio n a l B a n k o f H o llis, O k la h o m a .
C a p ita l, $25 ,0 0 0 .
W m . B . G ro v e s , P re s id e n t; L . H . B e lla h , V ic e -P r e s id e n t; J . D .
P e n ln g to n , Cashier.
8 .8 2 6 — T h e N a tion a l B a n k o f T o r o n t o , O h io .
C a p ita l, $ 5 0 ,0 0 0 .
L. H .
H ilsln ger, P re s id e n t; G u y J o h n s t o n , V ic e -P r e s id e n t; J . C. H ilsln ger,
Cashier.
8 .8 2 7 — T h e Cen tral N a tio n a l B a n k o f L o s A n g e le s , C a lifo rn ia . C a p ita l,
$ 2 0 0 ,0 0 0 . W illia m M e a d , P re sid e n t; P e r r y W . W e id n e r , V ice P re s id e n t; W a lte r C. D u r g in , C ashier; J am es B . G ist, A ssista n t
8 .8 2 8 — T h e F irst N a tio n a l B a n k o f N e w p o r t , W a s h in g to n .
C apital
$ 2 5 ,0 0 0 .
C harles F . C ra ig, P r e s id e n t; H e n r y T w e e d le , V ic e -P r e s i­
d e n t; A . E . R e id , Cashier; E . L . C raig, A s s is ta n t C ashier. C o n ­
v ers ion o f T h e P e n d d ’ O rellle V a lle y S ta te B a n k .
8 .8 2 9 — T h e L ittle F a lls N a tio n a l B a n k , L ittle F a lls, N e w Je rse y .
C a p ita l,
$25 ,0 0 0 .
J. M . S tr o n g , P re s id e n t; H e n r y H y e r , V ic e -P r e s id e n t;
F red erick H e e rm a n ce , C ashier.
8 .8 3 0 — T h e F irst N a tio n a l B a n k o f B r o o k s v llle , K e n t u c k y .
C a p ita l,
$ 2 5 ,0 0 0 . W m . P . H a le y , P re sid e n t; H . L . C orlls, V ic e -P r e s id e n t;
G eo. B . P o a g e , Cashier.
8 .8 3 1 — T h e G range N a tio n a l B a n k o f M ansfield, P e n n s y lv a n ia .
C a p ita l,
$ 5 0 ,0 0 0 .
E . B . D o r s e tt, P re s id e n t; F ra n cis K e lle y , B e n j. M o o d y ,
a n d J . F . H a v e r le y , V ic e -P r e s id e n ts ; W . D . H u s te d , C ashier;
L e o n A . L ew is, A ssista n t Cashier.
8 .8 3 2 — T h e B a nkers N a tio n a l B a n k o f E v a n s v ille , In d ia n a .
C a p ita l,
$ 2 5 0 ,0 0 0 .
S am T . H e s to n , P re s id e n t; O rville W . M cG in n is, V ice P resid en t; J n o . O . D a v is , C ashier.




Name 01 Company.

Per
Cent.

When
Payable.

Books Closed.
Days Inclusive.

Railroads (Steam ).
Aug.
Alabama Great Southern, p referred ____
Aug. 4
to
Sept. 2
3
Baltimore Chesapeake & Atlantic, pref
2
Sept.
Holders of rec. Aug. 20
Sept.
Aug. 18
to
Sept. 2
Baltimore & Ohio, com m on__________
3
Sept.
Preferred ___________________________
2
Aug. 18
to
Sept. 2
Boston & Maine, com mon (quar.)______
Holders e f rec. Sept. 3
1% Oct.
Sept.
Preferred
(N o . 3 5 ) _______________
Holders o f rec. Aug. 15
3
Sept.
Buffalo & Susq., pref. (quar.) {N o. 2 1 ).
1
Canadian P acific, common_____________
S ept. 30 Sept. 1
to
O ct. 2
3
Common (extra)______________________
to
O ct . 2
% S ep t. 30 Sept. 1
2
P referred ____________________________
O ct.
Sept. 1
to
O ct. 2
Holders of rec. A ug. 20
Chestnut Hill (quar.)___________________
1% Sept.
Holders o f rec. A ug. 21
Chic. Miiw. & St. Paul, com . and p ref..
3H Oct.
Aug.
Holders of rec. Aug. 3
Chic. St Paul M. & O ., com . and p r e f..
34
Cin. N . O. & T ex. P a c., pref. (quar.)___
Aug. 18
to
Sept. 2
1% Sept.
Sept.
Holders of rec. July 31
Cleve. Cln. Chic. & St. L ., com m on____
2
Cleve. & Pittsburgh, orig. guar, (quar.)
Holders o f rec. Aug. 10
1% Sept.
Special guaranteed betterment (quar)
Sept.
Holders o f rec. Aug. 10
1
Holders of rec. A ug. 9
Delaware & Bound B rook, guar .(quar.)
2
Aug.
Illinois Central (No. 105)_____________
Aug. 2
to
Aug. 21
3% Aug.
North Pennsylvania (quar.)_____________
Aug. 15
to
A ug. 19
2
Aug.
Oswego & Syracuse, guaranteed_______
Aug. 11
to
Aug. 19
4% Aug.
Holders of rec. A ug. 20
Sept.
Phila. Germantown & Norristown (quar)
3
Sept. 10!Holders o f rec. A u g. 24
Reading Com pany, first preferred______
2
Southern Pacific Co., com . (quar.) (No. 4)
1 ...............................................
1% O ct.
Union Pacific, com mon (q u a r.)________
1 Sept. 15
to
O ct. 8
2% O ct.
Preferred_____________ ___ ___________
2
O ct.
1 Sept. 15
to
O ct. 8
Utica & Black River, guaranteed______
to
Sept. 30
3% Sept. 30 Sept. 15
Street Railways.
American Railways (quar.)_____________
to
Sept. 8
1% Sept. 14 A u g. 31
I Holders o f rec. Aug. 20
Chattanooga Railways, pref. (quar.) . .
1H Sept.
Columbus (O .), R y., common (quar.)____
Holders of rec. A ug. 25
1% Sept.
GeorgiaRy. & Elec. Co., common (quar.).
to
A ug. 20
1% Aug. 20 A ug. 16
Aug. 20
to
Sept. 2
K ansasC lty R y. & Light, pref. (quar.)___
1% Sept.
2\Holders o f rec. Aug. 10
Philadelphia C o., Pittsburgh, pref............
2% Sept.
I IA u g. 24
to
Sept. 1
Terre Haute Traction & Light, pref______
Sept.
3
2 [Holders o f rec. A ug. 19
Sept.
W hatcom Co. R y . & L t., pref. (N o 8 ) . .
Miscellaneous.
Amalgamated Copper (qu ar.)__________
Aug. 26!July 26
A ug. 11
2
l;S ep t. 11
American Caramel, preferred (quar.) . .
Sept. 30
2
Oct.
Aug. 15
Aug. 2 0 1
Aug. 20
American Chicle, com mon (m o n th ly )..
1
3 Aug. 23
American Coal__________________________
5
Sept.
Sept. 3
American E xpress (q u a r.)_______________
O ct.
liH olders o f rec. Sept. 14
3
Am er.Graphophone, com. (qu.) (N o. 39).
1% Sept. 15 Holders of rec. Sept. 1
American L ocom otive, com m on (qu ar.).
A ug. 25
1% Aug. 26 Aug. 10
American Radiator, common (qu ar.)_
_
Sept. 22
1
Sept.
Sept. 30
American Shipbuilding, com mon (quar.)
Sept.
Aug. 18
1
Common extra_______________________
Aug. 18
Sept.
2
Aug. 18
Am er. Smelters Sec., pref. " A ” (quar.)_
Sept. 2
1% Sept.
Preferred “ B " (quar.) (N o. 9 ) _______
Aug. 18
Sept. 2
1% Sept.
American Sugar Refilling, com. (q u a r .)..
Sept. 1
O ct. 2
1% O ct.
Preferred (quar.)_____________________
Sept. 1
to
O ct. 2
1% O ct.
to
American Telegraph & Cable, guar (qu .)
Aug. 16
Sept. 2
1% Sept.
to
American Tobacco, com m on (q u a r.)____
Aug. 16
2% Sept.
._
Sept. 2
Common (extra )_____________ ________
Aug. 16
Sept. 2
7% Sept.
Barney <k Smith Car, common (quar.)____
S e p t .16
Sept, 5
Sept.
Preferred (quar.)_____________________
to
Sept. 2
A u g. 22
Sept.
British Columbia Copper (qu ar.)_______ 25c. Sept.
Sept. 4
Aug. 17
to
Extra _______________________________
to
Sept. 4
15c. Sept.
Aug. 17
Sept.
Butterick Company (q u a r.)____________
1
Aug. 16
to
Sept. 3
Consolidated Gas, New Y ork (q u a r.)____
Sept.
Aug. 28
to
1
Sept. 16
duPont(E.I.)deN'emour3Pow„com .(quar)
Sept. 6
Sept. 141
to
Sept. 15
1%
Eastman K odak o f N . J ., com . (q u a r .)..
liS ept. 1
to
Sept. 15
2,% O ct.
Common, extra_______________________
O ct.
II Sept. 1
to
Sept. 15
5
Preferred (qu ar.).....................................
to
11
Sept. 1
Sept. 15
1% O ct.
F a y ( J . A .) & Egan, common (quar.)____
A ug. 20
Aug. 14
1% Aug. 201
Common (extra)______________________•
_
A ug. 20
A ug. 20 Aug. 14
2
Preferred (quar.)______________________
A ug. 20
1% Aug. 20'A ug. 14
Federal M ining
Smelt., com. (q u a r .)..
Sept. 2
1% Sept. 16[Aug. 27
Common (ex tr a )______________________
Sept. 2
1% Sept. 16 Aug. 27
Preferred (quar.)_____________________
Sept. 2
1% Sept. 16 Aug. 27
General Asphalt, preferred_____________ <
Aug. 311
Sept. 2
Aug. 18
1
General Chemical, c o m m o n ......................
Sept. 3
Sept.
3 Aug. 25
A u g. 24
A ug. 24 A ug. 13
Independent Brew., P lttsb., com . ( N o .l)
1
A ug. 24
Preferred (qu ar.)____________________
1% Aug. 24 Aug. 13
2
Sept.
2lAug. 23
K ings County Elec. Lt. & Power (q u a r .)..
Sept. I
Mahoning Investment C o........... ...............
Sept.
3 Holders o f rec. Aug. 20
2
15;Sept.29
to
O ct. 15
National Biscuit, common (quar.)_______
1% O ct.
Preferred (q u a r.)____________________
to
A ug. 31
1% Aug. 31jAug. 19
N ationalEnam . & Stamping, pref. (q u .).
to
Sept. 30
l% ft Sept. 30 Sept. 11
National Lead, common (quar.) (N o. 15).
1 Sept. 14
to
O ct. 1
1H O ct.
to
Sept. 16
Preferred (quar.) (N o. 6 3 )____________
1% Sept. 16jAug. 24
New England Cotton Yarn, com . (quar.)
3 Aug. 16
to
Sept. 2
1 'Ab Sept.
Newhouse Mines * Smelters (qu ar.)____
50e. Aug. 31|Aug. 16
to
Sept. 2
l % d Sept, 20 Sept. 13
to
Sept. 20
Nlles-Bement-Pond, com m on__________
North American Co. (quar.) (N o. 1 9 ) . .
lk
Sept.
2 Holders o f rec. Aug. 15a
1% |Aug. 26 Aug. 11
to
Aug. 26
People’s Gas Light <&Coke (qu ar.)______
1% Aug. 20 A ug. 10
to
Aug. 20
Pittsburgh Brewing, com m on (qu ar.)___
Preferred (quar.)____________________
1% Aug. 20 Aug. 10
to
A u g. 20
Pressed Steel Car, pref. (quar.) (N o. 3 4 )
1% Aug. 2S, Aug. 8
to
Aug. 27
Quaker Oats, com m on (qu ar.)..................
1% O ct. 15!Holders o f rec. O ct. 5
Common (extra)..... ..................... .............
yi ,Oct. 15 Holders o f rec. O ct. 5
Preferred (q u a r .)____________________
1% Aug. 31 Holders of rec. A u g. 20
Sloss-Sheffield Steel & Iron, com. (quar.).
1% Aug. 31 Holders o f rec. A ug. 19
Standard OH (quar.)____________________
S6
Sept . 14 Holders of rec. A ug. 19
1% Sept.
1 Aug. 21
to
Sept. 2
U nited Cigar M frs.,pref. (quar). (N o. 5 ) .
U. S. Cast Iron Pipe & F d ry .,co m .(q u .)
1
'Sept.
2 Aug. 11
to
Sept. 2
Preferred (qunr.) (N o. 2 7 ) . ......... ..
1% Sept.
2i Aug. 11
to
Sept. 2
United States Envelope, preferred_______
3
Sept.
1 Holders o f rce. Aug. 17
U. S. Steel Corp., com . (quar.) (N o. 15).
% Sept, 30 Sept. 12
to
Sept, 30
Preferred (quar.) (N o. 2 5 ).....................
1% Aug. 30 Aug. 8
to
A ug. 30
be
O ct.
1 Sept. 1
to
O ct. 1
Virginia Iron, Coal & C o k e -_ ....................
W elsbach Comnanv (annual)___________
2
:Sept.
2 Holders of rec. Aug. 21
a Transfer books not closed. b Declared 6 % payable In quarterly instalm ents.
e Payable In stock at par. h Declared 7% payable
d Also 1 % % , payable D ec. 20.
In quarterly Instalments.

A uction Sales.— A m ong other securities the follow ing, not
regularly dealt in at the Board, were recently sold at auction:
B y Messrs. Adrian H . Muller & Son:
S tocks.
S to ck s.
1 O ld C o lo n y R R . C o ............. -1 8 2
150 S ea W a v e M fg . C o ., $10
2 N o rw ich & W o r c e ste r R R .
e a c h _____________________ $25 lo t
C o . p r e fe rr e d ______________212
B o n d s.
190 N assau F e rry C o . o f N . Y . . 50
$ 3 ,000 R e a d in g H o s ie r y C o . 5s
50 G u g gen h eim R x p lo r . C o -----185
192 6. J u ly 1907 c o u p o n s
370 C o lu m b ia F u llers E a rth C o .
o n . ...................................$25 p e r b o n d
c o m . tru st c t f s ., $10 each
$ 3 5 0 ,0 0 0 M o n tice llo F a llsb u rg
$115 lo t
& W . L . R R . 1st 5s 1932.
A . & O . $ 1,000 e a c h . .$ 3 0 p e r b’nd

A

ug

THE CHRONICLE.

. 17 1907.]

Statem ent of New Y ork City Clearing-House Banks.—
The follow ing statement shows the condition of the New
Y ork City Clearing-House banks for the week ending Aug. 10.
I t should be distinctly understood that as to all items
except capital and surplus the figures are the averages of the
daily results, not the totals at the end of the week. In
other w ords, in reporting loans and deposits and holdngs of
specie and legal tenders, the practice is to take the aggre­
gate of the am ounts for the several days of the week and
divide this aggregate b y the num ber o f days.
W e omit two ciphers (00) in all cases.
Banks.
00s omitted.

Capital.

$
2,000,0
Bank of N . Y ._
Manhattan C o.
2,050,0
2,000,0
Merchants’ ____
3,000,0
Mechanics’ ____
A m e r ic a ______
1,500,0
P h e n ix _______
1,000,0
City --------------- 25,000,0
Chemical _____
3,000,0
M erchants’ E x .
600,0
Gallatin_______
1,000,0
Bu tch. & D rove.
300,0
Mech.&Traders’
2,000,0
G re e n w ic h ____
500,0
Am er. E x ch ___
5,000,0
Com m erce_____ 25,000,0
M erca n tile ____
3,000,0
Paclflt _______
500,0
Chatham ______
450,0
People’s . .
..
200,0
N orth Am erica.
2,000,0
H a n o v e r ______
3,000,0
2,550,0
Citizens’ Cent’l .
500,0
N a ss a u _______
1,000,0
Market & Fult’ n
Metropolitan __
2,000,0
Corn Exchange
3,000,0
Oriental
750,0
Im p . & Traders’
1,500,0
P a r k __________
3,000,0
East R iver____
250,0
F o u r t h _______
3,000,0
S e c o n d _______
500,0
F i r s t __________ 10,000,0
2,000,0
Irving Nat'l E x
Bowery ______
250,0
N . Y . C o u n ty ..
500,0
German-Amer .
750,0
C h ase.................
5,000,0
Fifth A v e n u e ..
100,0
German E x ch . _
200,0
200,0
G erm an ia_____
Lincoln ______
500,0
G a r fie ld ______
1,000,0
Fifth ..................
250,0
M e tro p o lis____
1,000,0
W est Side_____
200,0
Seaboard______
1,000,0
1st N at., Bklyn
300,0
Liberty _______
1,000,0
N . Y . Prod. E x.
1,000,0
New Am sterd’m
1,000,0
S ta te ....... ..........
1,000,0
14th Street____
1,000,0

Loans.

Surplus.
$
3,039,9
3,001,0
1,607,1
3,627,3
4,238,1
454,5
22,276,0
5,400,1
524,8
2,394,5
161,6
950,3
684,2
4,765,2
14,947,8
5,099,3
801,5
1,038,9
475,5
2,240,0
8,521,3
1,045,0
357,8
1,501,4
951,3
4,989,5
1,212,7
7,270,6
8,645,2
128,1
3,307,5
1,964,7
19,749,5
1,080,1
770,2
546,0
630,3
4,827,0
1,940,8
852,0
944,2
1,536,8
1,342,7
460,5
1,700,0
808,9
1,413,3
695,8
2,317,0
616,1
269,9
780,2
437,3

Specie.

Legals. Deposits, a R es’rve

$
$
$
%
%
15,795,0 26.8
17,751,0
2,493,0 1,749,0
28,000,0 26.7
5,230,0 2,270,0
24,500,0
15,295,3 25.8
13,771,2
2,895,9 1,000,5
3,657,0 2,040,0
21,833,0 26.0
21,747,0
21,992,1 25.5
3,062,6 2,545,7
21,532,7
102,0
7,165,0 25.5
7,868,0 . 1,729,0
160,850,1 36,461,6 2,100,0 141,998,9 27.1
24,466,3 26.0
25,633,0
4,728,7 1,642,7
312,9
5,798,9
5,929,0 22.9
1,049,6
567,8
5,706,1 25.5
8,342,5
888,3
41,9
2,037,2 21.6
2,224,6
399,3
16,412,0
3,220,0 1,670,0
19,220,0 25.4
376,2
6,041,9
1,104,6
6,210,9 23.8
3,348,0 1,413,1
26,647,9
18,935,5 25.1
139,629,2 17,587,4 11,582,2 115,982,1 25.1
15,406,8 24.1
2,980,6
742,0
19,836,0
294,1
502,4
3,171,5
3,380,3 23.5
398,4
5,267,2 26.3
987,3
5,412,8
2,460,6 29.0
2,086,3
348,8
368,5
2,082,7 1,666,7
14,988,0 25.0
15,734,7
63,786,0 29.0
53,910,7 12,397,5 6,146,1
20,571,3
3,316,5 1,861,3
20,008,8 25.8
324,1
380,4
4,059,3 17.3
3,801,0
7,400,2
517,0
7,107,0 27.7
1,454,0
10,598,2
188,9
2,342,5
10,537,1 24.0
38,038,2
43,677,0 25.0
6,122,0 4,820,0
509,6
10,525,5
10,998,3 22.0
1,914,0
25,287,7
4,107,0 1,361,0
22,110,0 24.7
84,735,0 26.9
74,143,0 19,823,0 3,047,0
1,295,4
167.9
145,0
1,436,9 21.7
18,291,4
2,377,7 2,159,4
17,744,3 25.6
9,621,0
1,217,0 1,091,0
8,972,0 25.7
79,551,5 24.0
94,179,5 18,100,8 1,051,5
14,838,0
2,902,0
911,0
14,388,0 26.5
3,270,0
70,0
630,0
3,500,0 20.0
5,169,6
491,4
1,002,8
6,247,7 23.9
795,9
3,831,7
189,5
3,703,1 26.6
55,554,0 25.5
51,297,9 12,920,4 1,264,5
749,4
9,830,2
2,076,7
10,682,2 26.4
715,0
3,542,8
200,0
3,873,8 23.6
4,661,6
639,7
846,1
5,689,8 26.1
1,600,0 1,852,2
14,003,0 24.6
13,212,3
265,4
7,576,2
1,539,6
7,514,7 24.0
2,943,2
534,5
187,8
2,932,1 24.6
616,9 1,562.1
9,001,1 24.2
9,463,8
3,975,0
485,0
581.0
4,308,0 24.7
3,053,0 1,762,0
15,707,0
18,090,0 26.6
4,336,0
431,2
465,0
3,936,0 22.7
12,424,4
2,347,5
450,0
10,646,1 26.2
6,476,2
415,4
7,591,4 26.1
1,571,1
4,483.9
282,9
1,046,3
5,304,6 25.0
161,0
13,587,0
3,218,0
15,722,0 21.4
1,056,4
7,172,1
455,5
7,418,5 20.3

T o t a ls ______ 129,400,0 161,407,4 1110.453.3I206,346.7 70,640,0 1076,904,6 25.7

3*7

New Y ork City, B oston and Philadelphia Banks.— Below
is a summary of the w eekly returns of the Clearing-House
banks o f New Y ork City, Boston and Philadelphia. The New
Y ork figures do not include results for non-m em ber banks:
W e omit two ciphers (00) in all these figures.
Capital
and
Surplus.

Banks.
New York
July 1 3 ..
July 2 0 ..
July 2 7 ..
Aug. 3 _ .
Aug. 1 0 ..
B osfon.
July 2 0 ..
July 2 7 ..
A u g. 3 . .
Aug. 1 0 ..
Phila.
July 2 0 ..
July 2 7 -A ug. 3 . .
A ug. 1 0 ..

Loans.

Specie.

S
290.820,6
290,820,6
290,820.6
290,807,4
290,807,4

$
1104,835,9
1105,250,0
1123.163,7
1126,950,7
1110,453,3

$
201,818,0
204,768,3
210,451,5
210,339,7
206,346,7

S
72,749,0
72,567,6
72.760,4
71,959,1
70,640,0

43,680,0
43.680,0
43.680,0
43,680,0

191,693,0
194,074,0
195,288,0
196,305,0

17,945,0
18,823,0
18,468,0
18,172,0

5,170,0
4.778,0
4,326,0
3.970,0

51,165,0
51,165,0
51,165,0
51,165,0

221,660,0
221,334,0
221,235,0
221,642,0

Banks.

Capi­
tal.

Sur­
plus.

Loans
and
Invest­
ments.

N. Y . City.
Boroughs o]
M an.& B r'x.
$
%
$
177,4 1,028,9
W a sh H ’g’tS100,0
Century ____
149,6 1,213,4
200,0
Chelsea Exch
100,0
114,0 1,288,3
Colonial
447,4 4,009,9
100,0
C olu m bia___
482,4 6,289,0
300,0
Consol. N at. 1,000,0 1,137,2 5,152,3
F id e lit y ____
200,0
147,5
859,2
Ham ilton
200.0
282,3 5,171,1
Jeflerson____
500,0
683,8 4,149,4
M t. Morris . .
250,0
218,8 2,306,6
M u tu al..........
200,0
295,0 3,306,0
300,0
19th W a r d ..
484,5 3,852,6
100,0
363,6 3,712,0
Plaza ............
200,0
12th W a r d ..
221,7 2,442,0
100,0
23rd W a r d ..
180,6 1,703,5
750,0
882,8 9,410,9
Union E xch .
100.0
397,9 3,330.8
Y o r k v ille ___
500.0
590,9 5,027,0
Coal & I. Nat
208,2 1,320,0
200.0
New Netli’ l’ d
124,3
Batt.Pk.N at.
200,0
837,0
Borough of
Brooklyn.
B o r o u g h ___
169.1 3,450,5
200,0
Broadway . .
421,0 2,661,0
150.0
B r o o k ly n ___
123,4 2,065.0
300.0
M frs.’ N a t ..
252,0
727.3 4,577,0
M echanics’ . . ' ,000.0
993.3 11,717.5
Nassau N at.
750,0
945,6 5,592,0
National City
300,0
637,0 3,323,0
North S id e ..
100,0
217.6 1,537,9
Jersey C ity.
First Nat’ l . .
400,0 1,192.2 4,267,1
H ud.C o.N at.
250.0
719,2 2,761,8
Third N at'l.
200,0
338,7 1.918,8
H oboken.
First Nat’ l . .
220.0
581,5 2.549,9
Second Nat’ l
125,0
202,1 1,837.9

Specie

Legal
Tender
and
Bank
Notes.

Other
Net
Banks, Deposits.
&c.

$
49,5
57,2
57,9
351,6
247,0
278,6
52,8
280,8
231,4
113,0
285,5!
587,8
144,0
239,0
170,4
353.4
360 0
320.0
5,0
30,0

52.7
11.7
118.8
321,8
296.6
210,0
136,0
24.8

238.2
212,4
82.7
138.3
680.0
430.0
361,0
122.1

182.5
198.6
280,9
775.0
1,247.6
844.0
943.0
55.3

85,6 3,762,3
79 1 2.757,6
34,5 2,355.5
222.0 4,935.4
158.4 13,065.2
5,062,0
131,0 4,320,0
348.8 1.850.8

186.7
88,0
56.5

320.2
71,5
105.3

1.676.4
199.3
396.6

371.0
193.0
26.1

22.2
59.4

162.3
96.2

68.1
79.7

2.171,5
1 915.8

$
87,1
79,8
121,3
548,6
474,0
210,9
60,1
695,6
192,2
374,9
148,7
908,0
478.0
155,0
163,2
766,7
227.0
599,0
113.3
123,0

$
16,1
98,3
288.7
Yoo.o
_
843,6
112,6
58,7
4,3
208,3
71,2
" 84 ,6
70.0
15,0

$
882.6
1,030,5
1,531,4
4,856,2
6,664,0
4,342,0
789,1
7,118.6
3,866,7
2,811,0
3,269,4
5,086,9
4,073.0
2,765,0
2,019,5
8,739,9
3,907.3
5,170.0
1.204,0
760,0

T ot. Aug. 10 9,847,0 14857,9 114669,2! 4.813.6 7.058.2 13.584.1 3.768.7 122818.6
T ot. Aug. 3 9,847.0 14857,9 115606,2 4,829.2 6,697.8 12,853.0 3.660.1 122161,5
T ot. July 27 9,847.0 14857,9|116438,2 5.048,3 6,523.4 11.338.8 3.430.4 122537.2




222,303,0
220.433,0
223,138,0
218,177,0

8.320.0
8.288,0
8,274,0
8,283,0

165,958,3
149.331,5
144,000,5
139,172,6

255,268,0
256.711.0
253,642,0
249,056,0

13,781,0
13,641,0
13,705,0
13,669,0

141,540,0
134,912,7
141,472,0
119,751,8

1906.

1907.

1905.

1904.

$4,191,973
11,781.015

$3,190,240
8,986,335

T o t a l ______________ _____
$15,972,988
Since January 1.
D ry G oods _ . _ __________ 5117,650 089
General Merchandise_______
431,336,759

$12,176,575

$9,900,883

$8,884,883

$98,721,528
366,938,992

$85,171 684
340,898,090

$73,088,307
289,839,728

$2,377,915
7,522,968

$2,313,533
6,571,350

$548,986,848 $465,660,520 $426,069,774 $362 928,035

The follow ing is a statement of the exports (exclusive of
specie) from the port of New Y ork to foreign ports for the
week ending Aug. 10 and from Jan. 1 to date.
E X P O R T S FROM N E W Y O R K F O R T H E W E E K .
1907.

j

1906.

$13,369,135
370,804,631

1905.

1904.

$12,604,101 $11,084,268
368 230,146! 313.569,356

$8,379,708
287,708,091

$384,173,766 $380,834,247 $324,653,624 $296,087,799

The follow ing table shows the exports and im ports of
specie at the port of New York for the week ending Aug. 10
and since Jan. 1 1907, and for the corresponding periods in
1906
and 1905:
E X P O R T S AN D IM PO R TS O F SPECIE AT NEW Y O R K .
Exports.

Great B r ita in ______________________
France .................... ..............................

Total 1907..........................................
Total 1906.................. .....................
Total 1905.........................................

Imports.

Since Jan. 1

Week.

W eek.

$12,376,086
15,206,499

Since Jan. I

873,155
11,500
2.086.443
1.500.000

$5.960
3,635
49.207
90

$2,540,353
717.0S7
1,155.297
301,280
169,970
1,710,342
220,302

$807,500 $32,053,683
5.800.904
7.000
7.000 37.700,897

$58,892
165,131
19,371

$6,814,631
49.338.744
6,391,210

$3,000
4,500
300.000
500.000

Silver.
$1,537,270 $25,296,816
2.246,000
6,555
271
260,820

$2,259
2,270
158
99 396
701.953
590.916
10,442

5.260,8
2.360.1
2.114.5

128.2
59,3

$
1.742,505,0
1,611,773,6
1.497,552.0
1,603,602,9
1,602,251,2

F O R E IG N IM PO RTS A T N E W Y O R K .
F or week.

Germany _________ _____________
$
13,2
12,7
87,8
107,8
282,0
628,1
9,3
343,1
9,8
100,6
18,0
34,8
212,5
40,0
68,0
216,6
45.5
674.0
82,7
136.0

$
50.321,7
50,382,3
50.293,9
50,183,5
50,155.1

Im ports and E xports for the W e e k .— The follow ing are
the im ports at New Y ork for the week ending Aug. 10, also
totals since the beginning of the first week in January:

Mexico _____ ___________ __________

Deposit loilh
Clear­
ing
Agent.

Clearings.

$
1070,759,8
1072,991,3
1095,772.9
1099,302,4
1076.904,6

a Including for Boston and Philadelphia the item "d u e to other banks” and also
Government deposits. For Boston these G overnm ent deposits am ounted on A ug. 10
to $2,691,000; on Aug. 3 to $2,704,000.

Gold.

W e omit too ciphers (00) in all cases.

Circu­
lation.

56,288.0
59,035,0
58,231,0
55,046,0

a Total United States deposit* included, 527.795,800.

R eports of Non-M em ber Banks.— The follow ing is the
statem ent of condition of the non-m em ber banks for the
week ending A ug. 10, based on average daily results.

Legals. Deposits, a

South Am erica....... ................... ..........
All other countries......... ................... ..

$892
8,191
40,591

7,665
4.786

Total 1907.......................................... $1,537,541 $27,822,642
Total 1906
_________
552,935 33,293.925
Total 1905___________ ___________
571,038 19 720.906

$49,674
12,814
21,072

$1,407,394
1,463,283
2,216.541

Of the above im ports for the week in 1907, S I, 110 were
American gold coin and $
American silver coin. Of
the exports during the same time $807,500 were American
gold coin and $ _____ were American silver coin.

^anliiu0 and ^financial.
W e shall be pleased to mail investors copies of the ninth
edition of our lO-page circular describing 65 Short-Term Notes
and Collateral Trust Bonds with approximate market prices.

Spencer Trask & Co.
W I L L IA M

M

AN D PIN E S T S .,

o f f a

t

-

&

-

w

NEW

YORK

h i t e

Members New York Stock Exchange.
5 N ASSAU S T R E E T .
DEALERS

IN

H A N O V E R B A N K B U IL D IN G
IN V E S TM E N T

SE C U R IT IE S .

Com m ission Orders Executed for Cash O nly.

388

THE CHRONICLE.
iiiu n u e is '

< O U £ C ttC .

Wall Street, Friday Night, A ug. 16 1907
The M oney Market and Financial Situation.— The most
pessim stic traders in Wall Street have been more or less
surprised, we believe, b y the enormous shrinkage in security
values which has taken place this week. This shrinkage
has been such as to carry a considerable list of active issues
not only to the lowest quotations of the year bu t to the
low est in recent years. As an illustration, New Y ork Central
has not sold below par for more than ten years, or since
June 1897, until this week, and there are other prominent
issues with a similar record.
On the other hand, perhaps, the m ost optim istic would
hardly have ventured to predict that a shrinkage of such
proportions could occur and not a single failure follow in
Stock Exchange circles.
It is, perhaps, unnecessary to state that there are no new
developments in the general situation. The m ovem ent noted
is the logical outcom e of conditions which have existed for
some time past and which are well known to our readers.
One of the significant events of the week has been an
advance in the Bank of England’s minimum discount rate
from 4 to 4 % % , a step unusual so early in the season.
W hatever the needs of this country may be for crop-m oving
or other purposes, it evidently will not be easy to secure
funds in the London market for some time to come.
The local m oney market is reported easier as a result of
the heavy liquidation during the past two weeks. Call loan
rates are quoted about normal but we conclude that new
business in this department is lim ited, while there is still a
disposition on the part of lenders to confine their/operations
to short-time loans.
The open market rates for call loans on the Stock Exchange
during the week on stock and bon d collaterals have ranged
from 2 % to 5 % . T o-d a y ’s rates on call were 2 % @ 3 % .
Prime commercial paper quoted at 6@ 6 % %
endorse­
ments and 6@ 6 % % for best single names.
The Bank of England’s weekly statement on Thursday
showed an increase in bullion of £792,413 and the percentage
of reserve to liabilities was 50.60, against 46.90 last week.
The discount rate was advanced from 4 to 4 % % . The
Bank of France shows an increase o f 425,000 francs in
gold and a decrease of 5,325,000 francs in silver.
N E W Y O R K C IT Y C L E A R IN G -H O U SE B A N K S .

1907.
August 10.
$
129,400,000
Capital
- _____ —
161,407,400
Surplus- ---Loans and discounts - . 1,110,453,300
50,155,100
C irculation.- _______
Net deposits__________ a l , 076,904,600
206.346.700
Specie - ----------------70,640,000
Legal tenders_________

Differences
from
previous week.
$
D e c . 16,497,400
D ec.
28,400
Dec. 22,397,800
Dec. 3,993,000
D ec. 1,319,100

1906.
August 11.

1905.
August 12

$
$
118,072,700
115,972,700
150,932,900
139.492.800
1.072.468.300 1,139,891,400
46,054,500
50,467.300
1.062.904.300 1,186,659,200
188,939,000 221,391,000
88,120,600
85,058,600

Reserve h e l d _________
25% of deposits----------

276.986.700 D ec.
269,226,150 D ec.

5,312,100
5,599,450

273,997,600
265,726,075

309,511,600
296.664.800

Surplus reserve____

7,760,550 Inc.

287,350

8,271,525

12,846,800

a $27,795,800 United States deposits included, against $27,801,100 last week and
$9,016,100 the corresponding week of 1906. W ith these L’ nited States deposits
eliminated, the surplus reserve would be $14,709,500 on A u g. 10 and $14,423,475
on Aug. 3.
N ote.— Returns of separate banks appear on preceding page.

Foreign E xch ange.— The market was generally strong this
week, influenced b y a g ood demand for remittance, though
long steling was lower because of dear discounts. After the
rise in the Bank rate to 4 % % , the market recovered and it
closed at the highest with sight near the gold-export point.
T o-d a y ’s (Friday’ s) nominal rates for sterling exchange
were 4 831^2 for sixty day and 4 87 % for sight. T o-d a y ’s
(Friday’s) actual rates for sterling exchange were 4 8275@
4 83 for long, 4 8 7 @ 4 8710 for short and 4 8 7 9 0 @ 4 8788 for
cables. Commercial on banks 4 8240@ 4 8250 and docu­
ments for acceptance 4 8 1 % @ 4 83)^. Cotton for payment
4 8 1 % @ 4 82, cotton for acceptance 4 8 2 4 0 @ 4 8250, and
grain for paym ent 4 S 3 % @ 4 83 % .
T o-d a y ’s (Friday’ s actual rates for Paris bankers’ francs
were 5 19% 7i@ 5 19% a for long and 5 1 6 % @ 5 1 6 f or
short. Germany bankers’ marks were 9 4 % @ 9 4 7-16 for
long and 9 5 @ 9 5 l-16<i for short. Amsterdam bankers’
guilders were 40 2 1 @ 4 0 23 for short.
Exchange at Paris on London to-day 25f. 16c.; week’s
range 25f. 16c. high and 20f. 14 % c. low.
The week’s range for exchange rates follows:
-LongSterling, Actual—
@ 4 33
14 87
H igh______ 4 8275
L o w ______ 4 8210
@ 4 8215
|4 8040
P aris Bankers' Francs—
H igh______ 5 19%/J
@ 5 19% a |5 16%ft
L o w ......... .5 20a
@ 5 19% a |5 16% a
Germany Bankers’ M arks—
H igh______ 94 7-16 @ 94%
| 95
L o w ______ 94%
@ 94 7-16 | 95d
Amsterdam. Bankers’ Guilders—
H igh......... ...................
@
.......... I 40 22
L o w ______
______
@
-------- I 40 1-16
Less:
Plus:

a 1-16 of 1 % .
k 1-16 o f 1 % .

d 1-32 of 1 % .
x 1-32 of 1 % .

@ 4 8710
@ 4 8645

14 8790
14 8705

@ 4 88
@ 4 8710

@ 5 16^A
@ 5 16%
@ 95 l-16d |
@ 95 l-16d! |
@ 4 0 24
@ 40 %

h 3-32 of 1 % .
i/3 -3 2 o fl%

The follow ing were the rates for dom estic exchange on
New Y ork at the underm entioned cities to-day: Savannah
buying 50c. per $1,000 discount; selling 75c. per $1,000
premium. Charleston $1 per $1,000 premium. New Or­
leans bank $1 per $ 1,000 premium; commercial 80c. per




[V o l .

lxxxy

.

$1,000 discount; Chicago 40c. per $1,000 discount. St
Louis 30c. per $1,000 discount. San Francisco 80c. per
$ 1,000 premium.
State and Railroad B on ds.— Sales of State bonds at the
Board include $7,000 Tennessee settlement 3s at 94 and
$10,000 Virginia 6s deferred trust receipts at 28.
The market for railway bonds has, like other depart
ments, suffered from urgent liquidation, and, naturally, the
daily transactions have been much larger than the recent
average. A few issues declined sharply under the lead of
Interboro-M etropolitan 4 % s, which, under enorm ous pres­
sure, sold down from 62 to 53 on M onday. Subsequently
they recovered about half the loss. U. S. Steel 5s have
also been notably weak, closing with a net loss o f 5 points.
United States B on ds.— Sales of Governm ent bonds at the
Board are limited to $1,500 2s, cou p., 1930, at 5 % , and
$10,000 2s, reg., 1930, at 105% . The follow ing are the daily
closing quotations; for yearly range see third page follounng.
Interest
Periods
2s,
2s,
3s,
3s,
3s,
4s,
4s,
2s,

1930 __________ registered
1930
_______ -coupon
1908-18_______ registered
1908-18_____ ____ coupon
1908-18____small coupon
1925 __________registered
1925. _______
coupon
1936-Panam a Canal regis

Aug10

A u g.
12

|
Axig. I A u g .
13
14

Au g. \ A u g.
15 I 16

Q— Jan
Q— Jan
Q— Feb
Q— Feb
Q— Feb
Q— Feb
Q— Feb
Q— Nov

*105%
*105 >4
*10234
*102%
*101%
*126%
*126%
*104%

*105 %
105 ^
*102%
*102%
*101%
*126%
*126%
*104%

*105341*105%
*105141*105%
*102%|*102%
*102% *102%
*101% j*101%
*12634 *126%
*126)4 *12634
*104% *104%

*105% 105%
*105% ,*105%
*102% *102%
*102% 1*102%
*101% i*101%
*126% ;*126%
*126% *126%
*104% *104%

* This is the price bid a t the morning board: no sale was made.

Railroad and Miscellaneous Stocks.— On a steadily de­
clining volum e of business from the total of over 1, 100,000
shares on M onday, the stock market continued sensationally
weak until Thursday, when a long list of active shares had
added from 5 to 10 or 12 points to the decline previously
recorded. There was some recovery from the low quotations
then made, bu t to-d a y ’s market has been decidedly irregular
and closing quotations are substantially below the best.
There have been almost no exceptional features. Every
stock traded in has declined, and, as noted above, several
new low records for a series of years have been established.
A few issues, however, sold lower in March last, am ong
which are Pennsylvania, Union Pacific, Southern Pacific,
Canadian Pacific and North West.
The copper stocks fluctuated w idely, as usual. Am al­
gamated Copper and Smelting & Refining covered a range
of 12 points, the latter selling more than 100 points lower
than in 1906.
New Y ork Air Brake sold on Thursday 22 points lower
than last week. United States Steel preferred has covered
a range of 6 points and closes near the lowest. The common
at 30 shows a net decline of 2 % .
For daily volume of business see page 398.
The follow ing sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending A u g.

16.

Sales
for
Week.

2,650
Balaklala Copper. _.
500
Bethlehem Steel Corp _ _
Chicago U n Tr trust rects
300
Comstock Tunnel 1st 4s_ 1,000
Gt Northern subscrlpt’n
receipts, 60% p a i d . .. 14,320
20
Homestake W inin g.____
N Y D ock, preferred. _.
157
Ontario Silver M ining_
_
200
R R Securities— Ills Cent
stock trust certfs_____
50
So Pac pref subscription
receipts, 2d p a id ..
1,300
do
full paid 1,865
U S Leather, preferred .
600
Western M a ryla n d _____
100

Range for week.
Lowest.
$5% A u g
10 Aug
2% Aug
18c. Aug
105% Aug
78 Aug
70% Aug
4 Aug
84

Aug

108% Aug
107% Aug
97 Aug
12 Aug

Highest.

Range Since Jan. 1.
Lowest.

H ighest.

13 $7 Aug 13 *534
13 12% Aug 12 10
16 2% Aug 16
2%
14 18c. Aug 14 16c.

A u g $ ll
July
May 20 (4 Jan
Aug
3% May
May 23c. Feb

15 116 Aug
10 78 Aug
12 70? s Aug
15 4 Aug

10 105%
10 55%
12 69
15
3%

Aug 121
Mav 85
May 70%
Aug 8%

Aug
Feb
Aug
Feb

12 84

12j 84

Aug 88

Apr

Aug

12 109 Aug
12 109% Aug
12 10434 Aug
10 12 Aug

12’ 106% June 112
July
16 106% June 112
July
10' 97
Aug 114
July
10 12
Aug 30% Jan

Outside M arket.— “ Curb” stocks suffered a further break
in the early part of the week, though towards the close a
better tone developed and a partial recovery ensued. Stan­
dard Oil and American T obacco were, as last week, the chief
sufferers. Dealings in Standard Oil were exceptional, the
downward m ovem ent culminating in the low point of 421, a
loss of 57 points since the opening of the week. After this
it m oved up irregularly, reaching 455 to-da y. The close
was at 450. A quarterly dividend of $6 was declared, the
same amount as declared this time last year. American
T obacco from 280 sold dow n to 230, ex-dividend, recovered
to 23 7% , and ends the week at 233. Consolidated Steam­
ship m oved down from 3 % to 2 % and up finally to 3 1-16.
The bonds fell from 25% to 2 3 % , m oved up to 2 4 % and
close to-day at 2 4 % . Manhattan Transit declined from
4 % to 3*4 "and to-day reached 4 % . W aterbury Com pany
com m on dropped a point to 39. Western Ice went up from
32 to 3 2 % , but fell to 31% and clos: d to-day at 3 1 % . Chi­
cago Subway was active and after an advance from 24 % to
2534 sank to 17. It n covered to 21 and closed to-day at 19.
Boston Consolidated Copper sank from 22% to 18, recovering
finally to 20. Butte Coalition ran down from 20J4 to 17
and advanced to 18% - Davis Daly Estates lost 2 points to
834 and rose to 8 % . Greene Cananea m oved down from
11% to 11, closing to-day at 11% . Nevada Consolidated
Copper dropped from 12% to 10 and ends the week at 10% .
United Copper com m on dropped from 57% to 523^, m oved
up to 55% and closed to-day at 5 4 % . The preferred sold
down from 81 % to 79. Nipissing from 7 % sank to 6 and
ends the week at 6 % .
Outside quotations will be found on page 398

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
STOCKS— H IG H EST A N D LO W EST SA LE PRICES.
Saturday
August 10

Monday | Tuesday
August 12 I August 13

Wednesday | Thursday
August 14 | Avgust 15

STO C K S
N E W Y O R K STOCK
EXCHANGE

Friday
August 16

Range lor Year 1907
Sates 01
the
On basis O’ TOO-sAare tots.
Week
Shares
Lowest
Highest.

R a ilr o a d s
8134 85
8134 A u g 15
t c h T o p e k a & S an ta Fe 88,600
82% 86%
83
85
83% 8534
83l2 86
85*8 8734
90% 9034
8934 9012 89
D o p r e f ____________
90
90
3,200
*90
92
90
91
89 A u g 13
89%
5,300
8012
80
82
78
81
77
78
79% 81% A t la n t ic C oa st L in e B R _ .
7 / A u g 15
78
79
8312
a ltim o re & O h io
44,000 a-87% A u g 16
92
287% 89
90
92
88
94
90ls 92%
90ls 92%
93
*80
Do
p r e f____
100
*84
*83
87
*84
86
86
*84
87
87
85 J 'n e l9
87
87
4134 44 B r o o k ly n R a p id T r a n s i t .. 74,060
40
41% 47
40 A u g 15
4512 4714
4412 47
43%
48% 5018
8434 * ____
8434 * ____
S434 B u ffa lo & S u sq u e , p r e f ___
8434 * ____
84S4 * ____
8434 * ____
83 F e b 16
* -. .
■(anadian P a c ific ________ 32,915 155 M ch23
161 165% 16234 166
1651* 16012 16214 165
163 167% 162% 167
Canada S o u th e rn ____
*61
60 M cll 14
*60
63
*61% 63
*61
*60
65
*61
63
63
64
170 170 C en tral o f N ew J e r s e y . .
175 165 M ch 25
5175 175 §172 172 *170 180 *170 180 *170 175
32% 3234 C h esapeak e & O h io _____
3234 33%
31,000
32
31% A u g 15
34
31% 33
3312 34I4
33*8 33%
fc% A u g 14
300
19% C h ica g o & A lto n R R ___
10% 10% *1014 20
9%
19% *10
9% *10
III4 III4
* ____
D o p r e f ______________
, 49% A u g 8
49 * ____
49
50
49 *
49 *
49 *____
934 10
934 10 C h ica g o G reat W estern
1034
934 1012
10
9% M ay 2?
7,400
10
10%
97 IOI4
8
D o 4 % d e b e n tu r e s .
*64
72
*64
*64
72
72
*64
*64
72
72
65 J 'ly 15
*64
72
D o 5 % p r e f " A ” ____
40
~ l",200
40% 42%
40
i0 A u g 16
50
43
47%
47
*48
53
4714 *43
D o 4 % p r e f “ B ” ____
14
1,300
! 21* M ay 23
13
*13% 15
13% 1334 *13% 14
12~8 I3I4 *1314 15
11934 122% C h ica g o M llw & St P a u l . . 129,810 117% A u g 15
121% 124
119% 12214 118l2 122% 117=8 122% 117% 121
D o p r e f ____
1,000 145 M ch25
*144
150 *145 150 *144 150
148 148 *144 150 *144 150
D o c o m c t fs 25 % p aid
650 107 M a y 2 /
110 112 *108 115 §107l2 1071: 107% 107% *106 110 *107 111
D o p r e f c t fs 25 % paid
127 129
125 127
5,254 125 A u g 12
126 12712 12734 128
§12934 13014 125 129
142% 144
13834 142
139 142
138 141% 140% 142 C h ica g o & N o rth W e ste rn 16,725 137% M ch25
13912 142
D o p r e f ________________
200 A p r 4
*200 218 *200 218 *200 218 *200 218 *180 218 *190 218
120 124% *120 135 C h ic St P M in n & O m a h a
*125 135 *125 135 *120 135 *120 135
500 120 M ch25
D o p r e f ________________
160 Jan 18
*150
180 *150 180
180 *150
180 *150 180 *150 180 *150
* ____
5 M ch2S
6%
*3
612 *
61* *3
6% C h ica g o T e r m ln ’l T ran sfer
612 *
012 *
D o p r e f ________________
(1 M ch27
20
13
*13
20 " *13
15
15
13
10l8 10ls
*I6 l8 20
C h ica g o U n io n T r a c t io n . _
2% M ay 15
D o p r e f______________
l l i 2 M ch 14
58 A u g 12
60
60
60
60
59
2,200
58
58
59
*63
58% 58% C lev e Cin C h ic & S t L . _
6412
D o p r e f ______________
1001* J ’l y 16
*95 102
112 *100 105
*95 102
*95 102
*100
105 *100
2134 2234 C o lo r a d o & S o u t h e r n ..
21 M ay27
21
22%
21% 2334
22%
10,650
24
22% 24
24I4 21
D o 1st p r e fe rr e d ___
53 A u g 15
5434 55
543j
*52
54
5412 5434
53
54
1,620
53
53% 54%
421 43%
4
D o 2d p referred
40 M ay27
40
41% 41%
2.900
41
41%
4212 42
43ls 43%
42*8
ela w a re & H u d s o n ____
152 153
1551* 160
155 158
151% 154
13,303 151% A u g 14
151% 157
16112 163
elaw a re L a ck & W e s t ’n
450% 450% 445 445
450 450 *455 470 *450 460
620 445 Mch2G
455 455
2034 25 D e n v e r & R io G ra n d e____
20 A u g 15
20
26
4,420
25
25
25
26% *
23%
*25% 27
D o pref
65 A u g 16
68
68
65
1,250
6S
67
*68
72
68ls 68I4 68% 68%
68%
*6234 68
61 J ’n e i s
*62
*62% 68
63
63 D e tro it U n i t e d ___________
100
*6212 68
*6314 68
S
91* A u g 16
10% 10%
9%
9% D u lu th So S h ore <c A tla n
315
*1012 ’ 1 2 " *10% 12
§11% 1112 *10% 12
D o p r e f______________
1734 A u g 15
1734 1734 §1634 19
24
260
20
20
*1712 2412 *17l2 2412 *20
1934 A u g 15
21
20% 22
201* 21%
223i
22
21
22
19% 21
48,940
22
5234 54 E r l D o " 1st p r e f______
5234
5234 50% 52%
50 A u g 15
51
50
51
51%
6,800
5414 56
D o 2d p r e f________
3334 3514
34% 35
33% M ay28
34
35
2.900
34
35
35lS 35%
3534 37
*65
*65
75
*65
*65
75
75
*65
75
*65
75
75 E v a n s v ille & T erre H a u te
D o p r e f________________
90 A p r 4
*85
*85
*85
*85
*85
95
95
95
*85
95
95
95
121% 124% 11714 122
117 12218 115% 12134 114 11834 116% 11938 G reat N o rth e r n p r e f______ 97,278 114 A u g 15
T e m p c t fs fo r o re p r o p . 30,450
44 A u g 15
46
4934
4734
44
46
50
52
47
49%
47
48
5 II4
G reen B a y & W ,d e b c t f A
Do
deb c t f B
7% A u g 12
712
8
8I4
8I4
a v a n a E le c t r ic ________
30 A p r 23
30
*20
30
*22
*21% 30
30
3014 *19
*19
3OI4 *19
D o p r e f ____________
72 A p r 1
95 * ____
95 * ____
95 * ____
95 * ____
95
*70
95 * ____
H o c k in g V a lle y t r r e c t s . .
753s M ch28
80
80
100
Do
p r e f____
*
83 A u g 14
83
8512 *
85% *1111 85%
83 * ____
85% * ____
85%
100
llin ois C e n tr a l___________
I 29' 12934 128 130% 129% 131% 130% 132
135 13514 128 134
8,138 128 A u g 12
n t e r b o r o -M e t r o p o lit a n . 19,469
1034
8% A u g 15
10% 11%
10
8%
9%
10i2 11
11
8*4 1034
III4
D o p r e f _____________
26 A u g 15
3434 28
2834 28
2834
3334
261'* 30
26
34
15,260
2812 30
16% A u g 12
*15
*15
17
*15
120
17
17
17 Io w a C e n tra l_____________
I 6I2 1612 *15
§17% 1714
D o p r e f________________
30% M ch 2 5
*35
*35
*35
*35
*35
38
38
*36
38
38
38
38
70 J ’n e 11
C F t S & M , tr cts p re f
*70
*70
*70
*70
*70
74
75
72
75
75
75
*71
ansas C ity S o u t h e r n ..
18 M ch 14
221* 22%
23
23%
23ls 25
23
25
5,120
26
26
23% 24
D o p r e f____________
45 M ch25
5434
51
52%
50 " 50%
54
51
51
50% ■50%
52
4,200
53%
a k e E rie & W e s t e r n ___
19% M ch 18
*12
22
*12
*12
22
*12
*12
22
22
22
22
*15
D o p r e f ____________
55 A p r 2
*50
*50
*50
*50
*50
*50
60
60
61
65
63
63
45 J ’ly 23
*45
55
*45
*45
*45
55
*45
5*
55 L o n g I s la n d _______________
*45
55
55
103 10512 103l2 108
104 105
105 105 L o u isv ille & N a s h v ille ___
104% 108
9,200 103 A u g 12
10612 108
VJ a n h a tta n E le v a t e d ___
130 130
125 129% 120 127% 118 120 §120 120
2,243 118 A u g 15
131 131
47 A u g 16
* . .
*40
50 l ’ JL etropolitan S t r e e t ____
70
47
400
91 *
71
91 *
85 ♦
1734 18%
15 M ch 14
17
16% 17% M e x ica n C e n tra l__________
is ’
18%
4,975
*1934 20
1712 1914
171*
39% A u g 15
39% 39%
42
42
*39
39% 3934 M in n e a p o lis & St L o u i s . .
700
*39
3912 3934 39% 39%
D o p r e f ________________
76% A u g 9
*
*75
*75
*75
78
78
78
78
78 *
78 *
90 M ay28
94
94 95%
93% 93%
95% 95% M inn St P & S S M a rie ___ ’ 2",400
94" 96
95
95
95%
D o p r e f ________________
125 127
123 123 §125 125 *123 130 *123 130 *120 130
625 123 M ch 14
3234 3334 M o K an sas & T e x a s ______ 41,210
30% M ch 26
32% 34%
32
34
3414 35I4 32
3312 3212 3414
D o p r e f________________
59 M ch26
62
60% 62
63
63
59% 61
2,900
63%
*63
64U
65l2 62
03 A u g 15
65% 66% M issouri P a c ific ___________ 14,095
65
6512 68
65
68
63
66
68U
6912 70
ash C h att & St L o u i s . .
130 §120 120 *120 130
*120
130 *120 130 *120 130 *120
10 119 M ch22
*
at o f M e x , n o n -c u m p f .
____
/634 A u g 13
4634 47
47 *
47
400
4712 481g
*4814
_ _
D o 2d p r e f __________
* ____
15 A u g 15
20
15
15
15
16
400
99% A u g 15
100% 105%
99% 10234 101% 10334 N Y C en tral & H u d s o n . . 133,280
105* 10712 102 10 512 102 105~
5
34 A u g 16
*33
34
40
*33
37
37
*33
34 N Y C h ic <c St L o u is ____
*33
37
200
35
35
D o 1st p r e f ____________
____ ____ *100 107
* ____ 115 *103 115 *105 110 *100 107
109 M ch25
D o 2d p r e f ____________
70 M c h 26
* ____
*70
*70
*65
*68
73
75
75
75
*68
74
78
160 160
160 160 N Y N H a v e n & H a r tfo r d
*1603.1 166 *159
166 *161
167 *159% 166
200 159% J ’ne 4
N Y O n ta rio & W e s t e r n ..
31 A u g 15
3234 33
31%
31
31% 31%
4,500
31% 3214 31% 321*
3112 3112
69 A u g 12
70
701* N o r fo lk & W e s t e r n _______
70
693.1
69
70
69% 70%
70
69
70%
7,975
71%
D o a d ju s tm e n t p r e f . .
80 M ch 14
82
82
82
*78
*78
82
*78
*78
1193s 122
115 11S1» 115»4 12014 115% 120% 113 117% 115 118% N o rth e rn P a c ific __________ 117’ 033 113 A u g 15
Do
s u b s crip r e c ts ____ 43,160
96% A u g 14
96% 100%
96% 100%
99% 101%
98 100%
103 105%
9712 102
a c ific C oa st C o __________
85 A u g 14
90
921* *80
90
*80
*84
*85 100
85
325
99
*88
99
D o 1st p r e f________
*90 100
*85
*86 100
*86 100
*85 100
98
*90 100
D o 2d p r e f________
95 M ch 20
95
*84
*85 100
*85
98
100
*85
*88 100
*87 100
115 117% 1143.1 116% 11534 1171, P e n n s y lv a n ia ______________ 229,360 114 M c h i4
115% 118
118 I I 9I4 115U 118
66 M a y 28
*66
74
*66
68
66
66 P it t s b Cin C h ic & St L ___
200
*65
68
*68
74
68
68
D o p r e f ________________
91 J ’ne 3
*90
*85
95
*85
95
*90
*85
95
*85
95
95
95
85% A u g 14
8634 9034 8734 9214
85% 91%
90
93
8512 90%
87% 91% T > c a d in g ________________ 833,020
79 J 'ly 9
*80
*80% 811*
80% 801*
80
79% 81% JLv 1st p r e f ______________
811* *79
80
8112
2d p r e f _____________
75 A u g 12
*75
*72
*74
76
*72
76
*72
76
78
78
75
75
17% M ch 26
18% 19%
17% 18%
19% 20
18% 18% R o c k Isla n d C o m p a n y ___ 25,450
1812 1914
1818 19
D o p r e f ________________
40% A u g 13
41
4234
413 42
4
43
41% 42
43
3,900
4OI4 41%
4034 42
*60
59 M ch 18
64
*55
65 St L & San F r , 1st p r e f . .
*60
*58
65
65
*60
65
65
*58
D o 2d p r e f ____________
3034 31%
30% 32
29 M ch25
30% 31%
32
3212 3312 32
32% 33% St L o u is S o u th w e s te r n ___ * 3",400
20
19
15% A u g 16
3.500
16% 18
19
*19
15% 16S4
*18
21%
18% 19
D o p r e f ________________
40 A u g 13
*40
40
50
*40
42
40
1,100
50
40
44
*40
40
45
6C34 M ch 14
80
80
81% 83% S o u th e rn P a cific C o ______ 216,400
7934 83%
8214
811* 84
84%
81U 8418
D o p r e f ________________
3,620 108% A u g 12
11012 11012 108% 11038 l l d g IIOI2 110% 110% 110% 110% 110% 112%
1634 17%
15% A u g 15
18%
15% 16%
16'8 16%
1612 17
16% 16% S o u th e rn v t r cfs sta m p e d 12,660
18
D o pref
do
58
5534 56%
60
58
53 M ay28
56
57
3,075
56% 56%
60
54% 56
4,100
26
26l8 251* 261*
24% M ch 25
25% 2534
25% 26 ni’ e x a s & P a c if ic ,
26
25% 26
2714
l l hlrd A v e n u e (N Y ) .
88
71% A u g 15
4.500
88
86
76
86
95%
88
71% 80
751* 78
88
25
*24% 27
24 M ch28
300
25
*24% 26
24% 24% *2434 26
*24
253,
2534 2534 25
2334 M ch 26
*2434 26
820
25
52534 2534
2512 25%
2512 2512
D o p r e f.
42
41% A u g 15
44
44
43
41% 4234 42%
44%
3,450
43
46U 461*
85% A u g 13
871?
8512 873,,1 861* 8734 86
87
87
4,790
86
89 "
88
[n io n P a c ific
928,650 120% M ch 14
120% 1261* 122%
122 12«38 1241g 1291g| 12134 129
12614 131
'
D o pref
82
82
801- 80%
75 A u g 14
75
81
2,000
*79
83
*80
78
S3

A

B

(

D

H

I

K

L

N

P

BA N K S
N ew Y o rk .
A e t n a _____
A m e r ic a U__
A m er K x ch .
B a ttery P a rk
B o w e ry H—
B u teh ’ s& D r
C en tu ry ll—
C h ase_______
C h a th a m ___
C hels’ a ^ x c I I




Ask

BanksC h e m ica l—
Citizens' Ctrl
220 C i t y ...............
525, C oal & I r o n .
230 ColonlalU ___
132
C o lu m b ia H.
325 C o m m e r c e ..
170
C o n s o lid a t’ d
190 C o p p e r ____
350
C orn * .xcn 1
,
____ D iscou n t IT.
Kast R iv e r .
F id e lity U _.

Bid
395
140
?250
220
700
500
T165
160
"15
290
150
150
195

AND
Ask
405
145

T R U ST

COM PANIES— B R O K E R S ’

Banks.
Fifth A v e il.
F i f t h ____ __
First _______
240 ' 14th S treet li
...
F o u r t h ____
525
G allatin ____
tl6 9
G a rfie ld ____
170
G erm an Am*
220
G erm an ExT
305
G erm an ia li.
160 'G reenw lch
160 (H am ilton U_
205
H a n o v e r ___

Bid
5900
340
615
225
180
350
500
135
420
500
285
265
485

Ask
4200

Banks.
Im p & T rad
,
In te r b o r o 11.
630
Irv in g N E x
300
Jefferson H_.
195
L i b e r t y ____
360
L i n c o l n ____
525
M anhattan V
145
M a r k e t& i'u i
____ M echanics’ .
____ M ech&Tra. 1!
295
M erca n tile. .
M erch E x eh
500* M erch an ts’ .

Bid
520
150
185
210
490
1000

Ask
535
157%
195
220
510

Lowest

108% Jan
101% Jan
133% Jan
122 Jan
94% Jan
83% Jan
8534 F e b
1951* Jan
651* Jan
219% Jan
56 Jan
27% Jan
69 Jan
18 Jan
79 F e b
713. F e b
26% Jan
157% Jan
165% Jan
141 J a n
149 Jan
205 Jan
234 J a n
170 Jan
165 Jail
934 F e b
25 J a n
6% A p r
1938 Jan
92% Jan
108% Jan
38% J a n
69% J an
58% J an
227% J an
510 J an
42% Jan
83% J an
80is Jan
19% Jan
39 Jan
44% Jan
75% Jan
67 J a n

8538 M ay
7
12 198 D e c
5 131is J ’ly
5 IO534 M ay
10
91 O ct
7
71 J ’ly
8
83 Jan
4 155% M ay
65% J ’ne
14
2 204 M ay
5
51% N o v
5
25% Sep
70 D e c
5
2
16 J ’ne
25
79% Sep
14
70 D e c
24% N o v
5
14 J1461* D ec
5 tl6 0 D e c
14
____
15
10 " 192 A p r
10 225 A u g
8 168 J ’ne
19 175 N o v
934 A p r
21
11
25 D e c
3% M ay
3
9
11% J ’ly
89 D ec
7
7 110 J ’ly
29% Jan
9
66% A p r
7
8
43 M ay
2 189 M ay
24 43734 M ay
36% M ay
7
10
83 O ct
16
79% D ec
16 J ’ly
5
4
32 A p r
38% M ay
5
7434 D e c
7
62% A p r
7
68 D e c
92 A p r &
80 J ’ly
18934 Jan 2 C178 D e c
703. D e c
85 Jan 5
811* N o v
1137 O ct
14% Jan 17
47 Jan 3
33% Jan
7714 Jan
86% Jan -1
_
-----114 M ch 6
94 Jan 5
92% N o v
172 Jan 3 164 M ay
39 J a n 23
33% J ne
703« J ’ly
75% J an 7
28% Jan 4
24 J ly
51 J an 7
48 J ’ly
80 J an 10
77 O ct
3034 J an 5
22% J iy
CIS,, J an 8
49 J iy
28% Jan 12
27% J ’ly
67% A p r 26
75 Sep
67% J an 9
61% O ct
145%J an 5 136% M ay
146 F e b 13 140 Sep
107 Jan 23
103 J ’ly
27% Jan 5
1838 M ay
59 J a n 15
58% D e c
90 J a n 24
90 A p r
140% Jan 3 134 D e c
168 Jan 3 163% A p r
44% M ch 1
29 M ay
72S J a n 4
4
64% A p r
9234 Jan 5
85% M ay
147 Jan 8 133 M ay
5938 J a n 9
36 A p r
27 F e b 14
18% J ne
13434 Jan 10 126 N o v
63% Jan 7
59 M ch
110 J a n 16 111 A p r
9134 Jan 7
80 M ay
189 Jan 9
1891* D e c
4334 M ay
48% Jan 5
92% Jan 5
84 F e b
90% Jan 10
89% A p r
189% Jan 7 179% M ay
____
134 F e b 13
124% J an 7 103 J an
105 Jan
125 M ch 8 105% Jan
14138 Jan 8 122% J ’ly
78 Jan 22
75 M ay
1051* Jan 5 100 M ay
139% J an 7 112 M ay
92 Jan 7
89 Sep
94 Jan 8
90 A p r
30% Jan 5
22% J iy
64% Jan 5
60 J ly
70 Jan 11
60 F e b
4S38 Jan 5
40% J ’ly
25% Jan 7
20% M ay
4834 M ay
621* F e b 15
96% Jan 14
61 M ay
118% J a n 14 116 J ’ly
34 Jan 5
31% N ov
941* Jan 5
931* D ec
37% Jan 7
28 M ay
123 Jan 8 121 N o v
25% D e c
29 J an 7
. 3334 Jan 5
25% J ’ly
54% A p r 12
43 J ly
1081* J an 7 102 D ec
183 Jan 5 138% M ay
96 M ay 2
911* M ay

H ighesi.
110% Sep
106 Jan
167% Jan
125% Sep
991* Jan
94% Jan
87 F eb
2011* D ec
70% Jan
239% M ay
65% A u g
35% O ct
77% O ct
23% Jan
861* Jan
80 Jan
39-% J an
199% D ec
218 A u g
240 Jan
270 M ch
198 Jan
202 J an
18% J an
428, J an
133.1 F e b
47% M ch
109% J an
118 Jan
41 O ct
73% F e b
59 D e c
23434 N o v
560 M ay
51% Jan
91% Jan
102 F eb
22% J an
45 Jan
50% Jan
83 Jan
76S3 Jan
76 Jan
94 A u g
348 F eb
85 D e c
921* Jan
231* Jan
53 A u g
9734 M ay
____
99% J ’ne
184% J ’ne
5538 M ay
873s M ay
3434 J an
63% Jan
84% F e b
37% Jan
71 Jan
«an
§921* Jan
81% Jan
1561" J an
162 Jan
127 Jail
29% D ec
84% Jan
1001 Jan
4
164 M ch
1833., Jan
43% N o v
76 N o v
106*4 J an
149% Jan
S93j D ec
30 D ec
156% Jan
73% A p r
120% Jan
92 D ec
204% Jan
57% Jan
97% O ct
96 Jan
232% F eb
___ ____
142 J ’ne
106 Jan
135 M ay
147% Jan
87 Jan
109 A u g
zl04 Jan
96 Jan
102 Jan
32% N o v
6934 A u g
7234 A p r
51% F eb
27% Jan
6338 Sep
97% Sep
120% J ’ne
42% Jan
103 Jan
40% O ct
xl39% Jan
36 Jan
40% Jan
59% J an
122% Jan
195% Sep
99% Jan

QUO TATIO NS.

Ask
Bid
* Banks.
M etropolis li 390
165"
M etrop oli’nli 155
215
Mt M orrisH - 240
510
M utual 11___ 280
290 ’
210
220
N assau 11___ 200
122
200
N ew A m s te r 190
310
230
New N eth’l’ d 220
305
160
265
N e w Y o rk Co 1200
255
175
232% N ew Y o r k . . 290
305
225
300
410
155
165
N ’ht & DaylT 400
____
315
225
235
1 9 th W a rd I 325
T
200
185
N orth A m e r 255
265’
195
180
155
165 jN orth ern ___ 170
* B id and asked p rice s; n o sales w ere m a d e on th is d a y .
$ E x -rig h ts ,
i Less th a n 100 shares. ITState b a n k s , a E x -d iv id e n d
t Sale at S to c k E x ch a n g e or at a u ctio n th is w e e k , c E x ben eficial Interest In ore p r o p e r tie s ,
h 1st ln sta l’ m t p a id ,
n S old at
Banks

Bid

Range lor Previous
Year 090 6).

Banks.
O riental 1%.
P a cific 1 1 ...
P a r k _______
P e o p le ’ s 11-P h e n i x ____
P laza 11____
P ro d E x c h H
R iv e rsid e 11S e a b o a r d ___
S e c o n d ____
State IT
_____
12th W a rd IT
23d W ardH .

Bid
265
230
425
300
160
570
160
250
350
700
360
450
190

Ask
275
250
435
170 *
175
260
370
____
400
------

an d rig h ts, b N ew s t o c l
p r iv a te sale at th is prltx

390

New York Stock Record— Concluded— Page
STOCKS—H IG H EST A N D LO W EST S A L E P RICES.

Saturday
A u g. 10

M onday
Aug. 12

Tuesday
A u g.lZ

Wednesday
Aug. 14

2 hursday
August 15

Friday
August 16

ST O C K S
N E W Y O R K STOCK
EXCHANGE

2

{V o l . l x x x y .

Range lor Year 1907
Sales 01
On basis o1 100-sftare lots
the
Week
Lowest.
Shares
Highest.

Range 1or Previous
Year (1906).
Lowest.

20 J ’n e l?
62 J a n 7
50 A p r
U n it R y s I n v ’t o f S an F ran
748
34% A u g 15
71% J a n 7
D o p r e f ________________
55 A p r
2,200
181, J a n 5
W a b a s h --------------------------1.700
105s A u g 12
18 D ec
20 A u g 15; 38I2 Jan 7
D o p r e f___________
3,300
36i2 D ec
1684 J a n 7
16 A p t
W h e e lin g & L a k e E r ie ___
500
9% M ch 4
3784 J a n 5
22 May2:
D o 1st p r e f_______
36 May
2134 J a n 10
2114 O ct
D o 2d p r e f____________
12 A u g 16
200
23 May
W isc o n s in C e n tra l________
1,710
1312 A u g 16
25% J a n 12
51i2 J a n 7
44 J ’ly
34 A u g 10
D o p r e f . ____ _________
1,125
In d u s tria l & M is ce lla n e o u s
A d a m s E x rp e s s __________
150 §150 A u g 14 §330 J',ne20 §240 J
150 150 *140 170 *150 170
*150 170 *150 170 *150 170
J’
16 J ly
4 A u g 16
14,920
16% J a n 5
4
9 -ti-llis -C h a lm e rs __________
91o
10
*9
9
912
878
1012
914
8*4
40 Sep
433, J a n 3,
4,450
— „1
Do
p r e f____________
15% A u g 6
1512 22
2412 26
*25
30
26
26
25
25
20U 23
65 A u g 15; 121% J a n 5
' _
6634 741S 65
92*8 J ’ly
737s 7658 7012 74
70
7014
67I4 71% A m a lg a m a te d C o p p e r ____ 557,655
747
8
25-% J a n 8
20 J ’ly
15 May 27
700
19% A m e r A g ric u ltu ra l C h e m .
*16
17
17
1914 1914 *1614 1S12 *17
19l2 *1612 19l2
90 D ec
D o p re f. .
___ . . . .
85 M ay 13
95 F e b 20
*70
95
*70
*70
95
*50
95
*70
95
*75
95
95
23i2Jan 7
2012 May
10>4 M ay 2
1,100
13 A m e r ic a n B e e t S u g a r ____
12
11
11
11 * 11
*11
1112
III4 1U2
III4 11*2
D o p r e f . ______________
* ____
75 M ch
80 J a n 21
82% O ct
76
76 *
76 * ____
76
76 * ____
76 * ____
414 A u „ 16
4% A m e r ic a n C a n ____________
—
710 A p r 11
1,545
412
412
5
*5*
5I4 ” 5"
5
414
47
8
47 ’ * 41,
s
D o p r e f ________________
44 A u g 16
‘
60% A p r 10
44*4 461,
4,195
47*4 4914
44
46
50
50
477 4812 §4812 50
8
M ch
4514 Ja n 14
3234 J ’ly
3 1 ------- 2 5
3612 38*4
37
38l2 3578 3712 37
38I4 A m e r ic a n Car & F o u n d r y 17,330
3812 397s
37
39
92 U M ch 25 103 J a n 12
D o p r e f ________________
1,220
96%
98i2 J ’ly
9912 9812 9812 *9812 9912 9712 9712 96
§9912 9912 98
27 “ M ch 2 5
28 M a i
305s
7,350
32
30
32
30
32
30ls 31 A m e r ic a n C o tto n O il______
3612 J 'iy 27 j
32
3212 31>4 32
$8 M ch 13
90 J a n 21
90 D e c
D o p r e f . ______________
90
90
90
90
90
*85
90
*85
*85
*85
*85
*85
525 200 M ch 25 247 J a n 5 215 A p r
*190 210 A n ie r ic a n E x p r e s s ________
210 2 IOI4 200 200 §200 200 *195 210 *190 210
4U A u g 13
8I4 J an ii|
778 M ay
2,175
412
*4
5% A m e r ic a n G rass T w in e ___
§412
412 *4
512
5%
5
5
o
512
6i4 Jan 161
51 • N ov
>
4 “ M ay 23
100
*334
4 A m e r ic a n H id e & L e a th e r
*334
4
4
4
4
*312
4
*31 • 4
>
*334
15l2 A u g 12
24 “ N o v
30i2 Jan 7
D o p r e f . _ ____________
1,120
18
16
16
*15
1512 16
16l2 17
1712 *15
17
18
35 l4 Jan
88 J a n 2
50 J ’ly 31
220
*50
§52
52
50
50
68 A m e r ic a n Ic e S e c u r it ie s . _
*34
54
54
68
*55
68
I 9I4 J a n 10
1034 D ec
„ A u g 15
*7
110
10 A m e r ic a n L in s e e d ________
*7
10
8
*7
10
10
10
8
*8
*7
20 A u g 7
35 D ec
36 J a n 7
D o p r e f ___ __ ________
10
20lo §24
24
*19
30
*19
22
*19
25
*19
35
*19
7534 F e b 15
50 A u g 12
oo*4 May
50
5212 5358
50
52
SOI4 53
5112 5214 A m e r ic a n L o c o m o t i v e ___ 15,400
51
50U 53
997s A u g 13 1111, J a n 21
10812 D e c
D o p r e f . __________ .
1,400
101 101
10412 10434 103 104
997 103 *102 105 *103 105
s
571; A p r 2
2% J ’ne io
5
5
5
5
5 A m e r ic a n M alt C o r p ______
*4
*4
*3
*3
*3
*3
22 " J ’n e n
40 “ F e b 21
D o p r e f ____ _____ _____
*20
*20
25
*20
25
*20
25
25
*21
23
*20
25
921 D e c
4
80 M ch 25
*____
93*8 J a n 7
* ____
40
§90
90 •
90 * - - .
90 * _ __ 90 A m e r S m elters S ec p r e f B
90 *
90
90 A u g 15 z l5 5 J a n 7 138i2 M ay
97%
90
92
95l2 92
94
985s
96*8 A m e r S m e ltin g & R e fin in g 239,100
97% 101%
93
9912
94ls A u g 15 H 738 J a n 7 112 D ee
D o p r e f _ ____________
10,500
9418 957s
96U 9734
9514 97
99% 100l2 96
9934
9618 9734
19212
12 205 J a n 18 200 J ’ly
*170 200 *170 240 *170 240 *170 240 *100 240 *170 240 A m e r ic a n S n u ff_______ __
595 A p r i 102 J ’n e 7 100 D ec,
D o p r e f__________ _
*70
*70
*70
*50
97
*70
*70
99
99
99
99
99
934 N ov
1034 J a n 5
512 M a y22
534
534 A m e r ic a n S teel F o u n d rie s
1,590
6
*6
*6
7
6
578
7
578
578
512
30 " A u g is
471, J a n 7
40 M ay
D o p r e f ____ __
____
2,310
*32
32
321S 30
32I4 34
31
30*4 31
34
34
35
11234 u s
110*4 112 A m e r ic a n Su g ar R e fin in g . 23.150 10712 A u g 15 137U F e b 13 12712 May,
110 1121
111 11312 1097« 113
10712 112
D o p r e f ____ ___ _______
100 118 A u g 8 131 Ja u 2 128% D e c
H 8I2 11812 *116 120
*117 120 *115 120 *118 122 *118 121
C 104% J ’ne 14 133 J a n 4 130 J ’ly
*105 110 *105 110 *100 110 *100 110 *100 110 *100 110 A m e r ic a n T e le p h & T e le g
74*8 A u g 15
98*4 J a n 5
96 J ’ly
6,450
75
76 A m e r ic a n T o b a c ( n e w ) , p f
*80
75
76
74*8 75
84
76
80
7512 77
361, J a n 7
2112 A u g 15
28 No\
6,700
2234 2612
217 2212
s
2112 2134 A m e r ic a n W o o le n ________
22
2112 22
2218 23
23
85 A u g 13 102^8 J a n 6 101 J ’ly
D o p r e f . . ________ __
2,735
86
85
86
85l8 851S 8512 86
89
85l2
8978 8512 87
43
47
437s 46*4
4514
4614 42
4314 45% d A n a e o n d a C o p p e r F a r ? 25 72,580 $42 A u g 15 302*4 F e b 16 22312 Maj*
4912 4312 46
$6 A u g a
$9i8 M ay 13
500
67
8
678
6i8
6%
658 *5
612
6
678 c/B a to p ila s M in in g P a r t 2,0
6*4
6I2
6I2
105 M ay29 125 M a y 1 ' 105% N ov
*110
115 *110 115 *110 115 *105 112 *105 112 *105 112 O r o o k l y n U n io n G a s ____
I 41, J a n 4
10 M a y a i
*10
1212 *10
12% - D r u n s w lc b D o c k & C Im p ______
1314 J ’ly
* 1012 13
*10
13
1212 *10
1212 *10
49igJan 3
31 A u g 14
40 A p r
110
33 B u tte riq k C o ______________
31
*28
35
*31
*28
33
31
§33
33
*28
33
33*4 D e c
40 F e b 15
1614 A u g 15
6,130
17
is
18
19
1858
17*4 /C e n t r a l L e a th e r __________
18
I 6I4 17U
18*4 1912
86 A u g 15 102 F e b 8
98*4 B e e
D o p r e f . ___________
1,971
87
87%
89
88
86
8612
89
89
88
§91
91
90
40i8 M ay
22% A u g 15. 57% J a n 8
2212 25
25
23
23i8 25I4 22l8 235s
26% 27
23% 24% C o lo r a d o F u el & I r o n ____ 24,700
20 M oil 5
28% A p r 5
17 M aj
2,760
217s
*21
21
21% -Col & H o c k C oal & I r o n . .
2112 22
20
*21
21
24
24
2114
991, A u g 15 140l4 M ch 1 1305s A p r
11234 10312 108
103 106 C o n s o lid a te d G as (N Y ) . _ 13,800
10312 10712 104 106
991s 102
111
2434 Jan 22
115s A t ig i4
1158 13
12*4 13I4 C o m P r o d u c t s R e f i n i n g ..
5,933
12
I8I4 J ’ly
1212 147
13
11*4 11*4
151S 15lS
8
74i 2 M ay
63 A u g 14
2,750
63% 63%
88 J an 28
65
63i« 6314
70
65
67
65
■*68
66I4 63
491, A u g 16
5 1 “ Jan
78 F e b 13
50l2 5212 4912 52% D is tille rs ’ S e cu ritie s C o r p . 13,890
52*4 56
59
5912 5412 5612 54
55*4
150 120 A u g io. 163 Jan 16 138 Jan
120 120 *10712 13212 *10712 120 *107l2 13212 §10212 10212 *102% 132% F e d e ra l M in in g & S m e lt’ g
97 J a n 14
78 A u g 13
D o p r e f ____ ___________
91 J ’ly
300
*75
79
*75
80
80
78
78
7912 * ____
77
79l2 791o
I63 J a n 22 H 5 6 D e c
6,075 126 A u g is
13012 13138 128 130
126 128*4 I27I2 129
127 12814 127% 128 G en eral E l e c t r i c _________
950 100 A u g 15 152 F e b 13
110 110
100 105
*110 125
110 110
115 115
100% 101 G ra n b y C on s M S & P ___
614 A u g 12
778 M ay 2
634
634
634 *e%
600
*6
*7
7
7
6*4
8I4 1 n t M er M arin e stk t r c tfs
6I4
8%
X* A u g 14
24 A p r 25
400
IS
18
19
18j4 ISI4 *1712 18
18
18 ” *17
18 JL D o p r e f . ____ ______
19
l gl 2J a n 7
H l4 M aj’27
16l» Sep
4,800
1218 1238
12
12 I n te r n a tio n a l P a p e r ______
*13
14
1214
12J2 13
11^4 I 2I4
80 D e c
70% May 22
81 i < * l l
1,600
72
72
7112 72
7V 2 71*4 *71
*71
7214 72I4
*7212 73
40 M ch 14
5034 J a n 15
48 Sep
1,200
41
41
41
*41
43
43
42
43
43
43
43
43 In te rn a tio n a l P o w e r ______
2U 2 A u g i5
41 J a n 7
28 Jan
22
600
22U *21
2 H2 2 H2 *20
23
24 In te rn a t S tea m P u m p ___
25
2212 2212 *21
8i J a n 14
68 J n e j g
7a Jail
D o p r e f________________
*67
75
*67
*72
75
*69
76
75
*71
76 * - - .
77
59 A u g !5
75»4 JaH 24
63%
62*4 6234
4,700
62
61% 62 M a c k a y C o m p a n ie s_______
64l8
59
60
64
65
63
71 J a n 24
59 A u g 15
5934
62
1,400
6278 61
59
59
*64
eoi4
66
6 II4
63I4 64
691, A u g 15
86i4 Jan 15
62 M ay
70
3,220
70
*69
74*i
73
701g 703»
71
*73
701s \T a tlo n a l B is c u it ________
6912 70
_
i-’
D o p r e f____________ 400 i i o % J ’n e 4 117*8 M ch 5 113l2 Jan
*106
114 114
11112 11158 * 11012 _ _ *110
* 111%
ig e jJ a n 5
10i8 M ay28
12 M ay
N a t E n a m e l’ g & S t a m p ’ g
fl
12
1,215
12 ' l 2 '
*11
11
§11
11
13
ll'
11
11%
87 F e b 15
79 M on 28
82 Sep
D q p r e f ________________
*80
*so
*80
*80
*82
87
87
87
*80
87
87
87
76i4 J a n 7
44 A u g 12
66 M ay
12,920
477s
44
50
50i2 44
44
45*4
4412 48*8
4634 N a tio n a l L e a d ____________
4978 45
95 A u g 13 103 J a n 5 100% J ’ne
D o p r e f ________________
*92
*92
306
95
98
977S 9778 *9514 9714
95U *93
98
98
1034 1H2 <rl0*4 11
5,100 $1034 A u g 13 *2034 A p r is
12
10*4 111,
11
11
11
III4 N e w h o u s e M & S .P a r S lO
117
S
98 M ay 27 14-U2 J a n 7 133 J i y
105 109i2 100 IK)
100i8 10512 101% 103% N e w Y o r k A ir B r a k e ____ 12,805
115 I I 8I4 105 114
8934 J a n 4
871 ■ N o v
>
6,800 3-53 A u g 15
55
60
55
60
57% 59 N o rth A m e r ic a n C o . n ew
56
61
z53
56'7
s
64*8 65
411, J a n 5
2S*4 J^ne
211, M ch 25
24
4,300
2.434
2212 2313 2314 2314
24
2312 25 ■ 2.4
24
24*4 l_ )a c ific M a i l ____ __ ______
84 - A u g 15, 985sJan 4
8434 87
88 J 'ly
7,600
84*4 86
87 - I e o p le ’s G a s-L & C (C h lc)
87l4
84
87
88
8414 *85
84^4
1678 Jan 15
7% A u g 16
800
*9
1314 M ay
10
958
1012
9
8% P it t s b u r g h C oal C o _______
*9
912 *8
1012
9*4
49 M ch 15
6oes J a n 4
D o p r e f ________________
50 J ’ly
350
50
5G12 *48
52
*58
54
30
*50
51
51
50U 50U
57 Jan 10
25 A u g 12
43 M ay
8,947
26
25
2,6
27l4
26
27% P re sse d S teel C a r__________
28
25I4
28l2
27h
86 A u g 15
99% J a n 24
95 M ay
D o p r e f________________
*84
87
455
87
§89
89
85
88
87
87
85
*$8% 8912
777 150 M ch 14 l « l i 8 J a n 8 180 D e c
160 160
157 157 §156 157 *153 160 §158 158 P u llm a n C o m p a n y _______
158 158
31^4 A u g 15
57l2 J a n 10
44 May34
34
3,320
34
33*4 3514
361-.
35I4
*3712 42
341s 1> a ilw a y S teel S p r in g ___
31-34 34
87 A u g 13
99% F e b 15
300
8912 8W2 '87
87 *
88 -CV D o p r e f ____ ______
9734 J’ly
87 *
*8912 91
8712
"
1914 A u g 15
2214 M ay
2134 23
7,820
41 J a n 7
21
19% 20*4 R e p u b lic Ir o n & S te e l____
2334
23
2212
19U 20
21»s 23
,
91 May
70 A u g 16 100 J a n 7
B o p r e f . . ____________
75
7412
70
4,125
7612 77
76
7912 7912 76
78
71
7378
42 M c h l4
r
68i2 J 'ly
491,
6,750
77''34 J a n 7
4414 48
46
46
47 C lo s s -S h e ffie ld S teel & Ir n
48
45
4612 4-7
45*4 48
92l4 J 'n e 2£ 107 J a n 11 IO4I4 O et
3
D o p r o f _____________
*85 100 1
135 135 T e n n C o a l. Ir o n & R R ___
100 130 M ch 26 162 Jae. 4 129 Jan
•
32f2 3234
32
32
32 ^ T en n essee C o p p e r P a r J25
4,000 $30 A u g 15 S53>> M ch 1
32
30
3212 32
31*4
33
3412
60 M ay
„
85 “ Jan 17
60 A u g 13
60
60
*55
79
800
65
65
60
79 T e x a s P a c ific L a n d T r u s t .
*70
64I4 *60
79
514 J ’n t 21
6% Sep
I T nion B a g & P a p e r
.
8% Jan 15
__ __
52 O ct
vJ
D o p r e f ____________
50l8 M ch 25
6-1 Jan
200
55
55
5412 5412
55
55
-~U
491; Jan 5
43l» M ay
297 30"
8
3,260
30
30
2712 2812 "38% -29" U S C ast I P ip e & F o u n d r
2712 A u g i 5
2934 30
‘ 31*4 3 2 "
J a n 15
89
8314 D ec
D o p r e f ________________
74 M ch 26
78
635
78
*76
7812 78U
7814 78>4 *75
7814 78l4
7814 7814
95
*95 105
300 §95 M ay 28 §117 J a n 9 109 M ay
*95 105
*95 100
95
*85 100 U n ite d S ta te s E x p r e s s ___
*95 110
9012 J a n 4
75 A u g
50 A u g 1-2
60
50
50
*50
50
50
53
*50
57 U S R e a lt y & I m p r o v e m ’t
2,100
51
52
52
30l4 J a n 38
24 M ch
12
14
1234 12*4 U S R e d u c tio n & R e fin in g
11 A u g 12
*10
14
14
1,100
12
15
H
I 5I4 I»l4
68 J a n 7
40 M ay27
60 M ch
40
40
41
*38
*35
*88
45
1,500
49
48
46
4314 45
52l2 F e b 16
27l2 A u g 13
38 J ’ly
28
§29% 29% U n ite d S ta te s R u b b e r ___
>
30
2812 2934 2712 281 ■ 28
4,155
30
27L
2814 28
-D o 1st p r e f____________
92
90
90
94 "
2,770
8512 A u g l‘5 1097s Jan 7 1104*4 J ’ly
§96*4 9634 94I0 95
85l2 8512 87% 90
78% J a n 7
60 A u g 15
00 N 62
62
D o 2d p r e f ............. .........
76 M ay
60
6212 *55
2,580
*64
66
60ls 6 U2 6314 63I4
50*8 J a n 7
325s J ’ ly
297a 32ls
2914-A u g 15
315S 325s
3d 4 32%
29I4 31*8
29% 31% U n ite d S ta te s S te e l_______ 560,160
297 31*4
8
9 m A u g 15 107*4 Jan 7
* ~-—
D o , p r e f ________________ 148,630
9l5g 95I4
92% 94%
9 H8 94
98*4 J ’ly
96
97
9212 9534
93*8 95%
24 d U ta h C o p p e r — P a r $10
2434 2318 2318 225s 23>2
2258 231S 24
1,600 $225s A u g l14 $3 912 M ch 4
2478 24%
23
391 J a n 7 '3 1
"
i9 A u g 12
* ----21 V in gin la -C a rolin a C h e m ..
2012
21
J ’iy
20
3,100
21
21
21
19
1912 20
-19% 22
J ’ly
99 A u g 15 108 Jan 9 104
*90 100
400
99 100
*95
10112 *90 10112 *93 101i2 100 100
50 A u g 15
38 M ay
97 Tan 22
52
52
55 V irg in ia Ir o n C oal & C ok e
800
50
5012 *46
52
*50
60
55
*55% 60
280 280 *250 300 *250 300 W / e l l s F a rg o & C o ______
100 250 M a y 7 300 J ’ne 3 233 M ch
*280
*280
*280
75 A u g 12
» » e s t e m U n io n T e l e g . .
1,460
85 J a n 10 183*4 D e c
75
75% 7514
75% 76
75
*7^3
75
7512 ~77~
7514 §75
1,315 136 A u g 15 154 Jan 2 148 A u g
140 140
136 138 *136 138 W e s t in g h ’ s e E l& M fg assen
140 140
138 140
142 143
162 N o v
____ 165 ★____ 165 * ____ 165
D o 1st p r e f____________ ______ §145 A p r 26 §160 M ay23
* __
160 * ___
165
165
*23
40
12
*22
1012
*23
*12
1512
38

22
25
40
40
105S
12
2134
23
1012 *10
25
*23
12*8
16
1512
143S
38
3712

22
22
40
37
11
11*4
221o
2012
12 “
1012
*22
25
12*;. *12
143a
14*4
38
36

23
22ls
38
38
12
♦Ills
211S 2112
10i2
1012
*22
25
*12
15
1434
14*8
36l2 3712

20
23
40
347
8
12
11
22
20
1012
11
25
*22
*10
16
143;, *14
35
3712

BANKS
Bid
Banks.
Union E x c ^ 220
U S E x ch H. 1221"
W a s h H ’ hts* 230
W e s t SidelL 600
Y o r k v ille fl. 400

Ask
240
132%

Bid

Banks.

AND
Ask

B ro o k ly n .

First _______
425" ' H o m e B ’nkT
M an u factrs’
Mechanics’ fl
M ontauk____
N a s s a u ____
N a t C it y ___
North Side
P ro sp e ctP k fl
135 " T e r m in a l., fl

385
175
400
305
100
250
305
360
160
140

____
....
_____

22
20
*15
35
36
37
11
11
11
20
2OI4
2OI4
11
11
11
25
*20
25
12
12
15
13l2 15
15
34
34
36

TRU ST
Trust C os.’
N Y C ity .
A s t o r ______
B ankers’ T r
B o w l’ g G r’ n
B road w ayT r
C am a g le___
C entral T r ’ st
C olu m b ia
Com m e--"'al
C o m m o n w 'h
E m p i r e ____
E q u lta b le T r
F arm L o & T

COM PANIES— B A N K E R S ’
Bid

Ask

Trust Co’ s.
Fidelity.........
340
F ifth A v T r .
375
F u lto n ______
460
490
420
430
G u aran ty T r
150
G uardian T r
160
210
H u d s o n ___
225
1850 2050
Kniclt’ b’ker
205
215 L a w T I & T r .
210
L in co ln T r . .
220
____ M an h a ttan .
100
M e rca n tile . .
335
350
____ 405
M etro p o llt ’ n
M orton T r ’ st
1175 1210

A sk
Bid
220
210
____ 550
325
275
500
475
220
230
95
105
1175 1200
230
250
320
340
____ 430
825
875
575
590
650
700

H ighest.
98 Jan
93U Jan
26i2 J a n
533s F e b
21*4 F e b
48U F e b
29i2 F e b
33 Jan
64 Jan
§300 A u g
2738 Jan
67 Jan
1ISI4 F eb
34i8 Jan
102 Jan
35 Jan
S9I9 Jan
47I0 J a n
1 0 5 “ Jan
44 I4 Jan
95 Jan
272 A u g
1134 J an
10 Jan
43 Jan
94% Sep
2914 Jan
53's Jan
78i-> Jan
12014 Jan
10134 Jan
174 J a n
130 Jan
220 Jan
107 Jan
1514 Jan
53i4 Jan
157 Jan
140 Jan
1445s Jan
109 J a n
48 J a n
110% Jan
300 F e b
178 Jan*
2134 A p r
70 M ay
49% Jan
1071, Jan
£ 5 J an
^%
3014 N o v
18134 Jan
28 A p r
85*4 A p r
745s S ep
199 J a n
1127S J a n
is i O ct

26I4 Jan
90 Jan
*95 Jan
60 M ay
92 M ay
791■ D ec
>
118% O ct
18*-> Jau
88% M ch
95$ Jan
IO6I4 Jan
163*4 Ja n
107 J a n
511, Jan
103 “ Jan
18i8 N o v
62i» Jan
6458 J an
105 F eb
270 N o v
6234 Jan
107 Jan
41*4 D ec
110i2 Jan
97% Jan
113 A p r
U 66 N o v
88 O c t
15i4 Ja n
84 J a n
53 J a n
96% J a n
1381, Jan
< * j, J an
j
4058 J ’n e
84 J ’ne
59i2 O c t
i l l 5 Jan
* 87% Jan
5014 O ct
11314 Jan
” 58 Jan"
U 7 i2 Jan
93 D e c
305 O ct
9414 Jan
176 J a n
188 Jan

QUO TATIO NS.
Trust Co’ s
M u t u a l ____
M ut Alli’nce
N Y L lfe & T r
N ew Y o r k T r
S tand ard T r
T itle G u & T r
T r C o of A m
U n ion T ru st
U S M tg & T r
U n it Sta*°s_
V a n N ’ denT r
W ash in gton
W i n d s o r ___

Ask
Bid
130
120
200
185
1000
670
650
____ 4C0
460
445
690
710
1250 1300
430
450
1200 1230
-60
400
____
185
200

Trust Co’ s.
B rooklyn.
B ro o k ly n Tr
Citizens’ ___
F latbush . .
F r a n k lin ___
H a m ilto n _ .
H o m e ______
J e n k in s ____
K lnes C o ___
L Isl L & T r . .
N a s s a u ____
P e o p le ’ s ___
W llila m sb 'g

Bid
425
135
260
300
315
150
210
475
300
250
3 I6I4
220

Ask
145
315
330
160
____

B rook lyn .
315
270
____
Borough f l . . 175
____
B r o a d w a y fl. 450
----------B r o o k ly n . _ 115
*B Id a n d asked prices; n o sales o n th is d a y . $L ess th a n 100 shares, t E x -r ig h ts . 6 X e w s t o c k . c E x -d lv id e n d a n d r ig h t s . d N o w q u o t e d do lla rs per share.
tS a le at S to c k E x ch a n g e o r a t a u c tio n th is w e e k .
s 'fr u s t C o . c e r tific a te s . flB an ka m a r k e d w ith a p a r a g r a p h (fl) are S ta te b a n k s.




fl

Few York Stock Exchange—Bond Record, Friday, Weekly and Yearly
itCCUPYlMi
1S O N D *
N- Y. STOCK E X C H A N G E
W eek E nding A u g u s t 16

i-*rice
F rid a y
A u g u st 16

WeelCs
R an ge or
Last Sale

B id
A sk
105 > 3 a lt
2
105 > 106
2
102*2 10^*4
102*2 103*4

KOUIt PA(iES
BONDS
N. Y. STO C K E X C H A N G E
W e ek E nding A u g u st 16

Frxce
F rid a y
Aicgust 16

Low
HiqtK
105*2 105 *,
•
105*8 105 V
102*2 J ’ ly ’ 07
103% J ’l y ’ 07
107 J ’ n e’ 02
104*2 O ct ’ O'
128% J ’ n e ’ o7
127 A u g ’ 07
!05 *e O ct ’ 06
111 M ay’ 06

R ange
S ince
Jan u ary J

Low H igh C en t of G a R R —(C o n )
104*8105 *9
Ciiatt 1n v pur m on g 4 s . 1951 J-D
Alac & N o r D iv 1st g 5 s . 1946 J-J
104*8 10614
1i*21 1023
4
4
M id Gacfe A t l D iv 5 s ___ 1947 J J
102*8 104
M o b ile D iv 1st g 5 s........1946 J-J 1 0 4 * 2 .........
IOen K H & B o f G a c o l g 5s 1937 V N ......... 100
1 2 i 5e Sale
101 %
‘J e n t of N J g e n ’ l g o ld 5 s . 1987 J - J
1 - 6 j4 127*4
R e g is t e r e d ...................A1987 Q -J 121 Sait
12878 130a4
107
.........
126*4 127*4
A m D o ck < Im p gu 5 s ..1921 J -J
fe
127 13o-\
L e & H u d R gen g u g 5s 1920 J -J
1 0 i 3 105 *2
4
99 *2 Sale
1 0 9 * 2 .........
L eh < W ilk s B Coal 5 s . .1912 M-N
fe
9 8 * * .........
Con e x t gu a r 4 *
2S___ ^ 1910 Q-M
N Y < L o n g B r ge n g 4s 1941 M-S 100 .........
fe
Cent P a cific See So P a cific Co
F o r e i g n (J o v e r m iie n t
C e n tV e rm o n t 1st g u 9 4 s .e l9 2 0 Q -F
99*2 Sale
993
4
Ja p a n ese G o v t 6 s ste rl’ g .1 9 1 1 A O
99*8
9 6 34 100*V Clias & tjav See A t l C oast L in e
99 >
•
9 9 38
2 d series 6s . . . ...................1911 A -O * 9 9 * 2 Sale
9 6 7a 100% Clies & O hio g 6s ser A ..A I 9 0 8 A-O 101
893b
86
JB loan 4 “< c t ls fu ll p d . 1925 F A * 86*2 Sale
28
86
94%
G old 6s ............................... a l9 1 1 A-O 104 .........
85*2
2d series 4 %s ctts fu ll paid. J j j 85 *2 sa le
84*2
^4 *2 92 7e
1st c o n s o l g 5 s ...................1939 M-N 110 Sale
757,s
£ loan 4s etfs fu ll p a id .. 1931 J - J t 77 Sale
75 7a 85*4
R e g is te r e d ...................... 1939 M-N
77
R e p u b o l C u ba 5s e x te n d e b t .. ,vi-s 1 103 Salt 102*4 103
9 8 3 10334
4
G enerai g old 4 * . . . ___ 1992 M-S 10(7*2 101*4
28.
U 8 ot M e x ico s £ g 5s ot 1899 y -J
97*2 99
R e g is t e r e d ...................... 1992 M-S
97*2
97 ht
96% 99
92 Sale
92
92 H 30 92
G old 4s of 1 9 0 4 ................. 1954 J -D
95
C ra ig V a lle y 1st g 5 s ___ 1940 J -J
hese a r e p r ices e n the 0 a n
R & A D iv 1st con g 4 s . .19 8 9 J-J
o t $0 to £ .
S t a t e S e c u r i t ie s
2d co n s o l g 4 s .................1989 J -J
111 M a r’ 02
A laba m a c u r r fu n d 4 s ___ 1920 J - J
W arm S pr V a l 1st g 5 s ..1941 M-S
D is t o f C olu m b ia 3 '6 5 s ___ 1924 F-A i i S * * " ” " 117*2 J ’ n e ’Ot
G re e n b r ie r R y I s t .g u g 4s ’ 40 M-PJ .........100
70
75
105*2 D e c ’ 04
Iiou isia n a n ew co n so l 4 s ..1914 J-J
..........100
C h ic & A lt R R re f g 3 s . . . 1949 A-O
100*4 A p r ’ 07
N o rth C arolina c o n s o l 4 s . 1910 J - j
........ 100
1 0 0 *< 100
R a ilw a y 1st lien 3 *
28...1 9 5 0 J -J
126 M a r’ 07
6 s ............................................ 1919 A -0
126 126
R e g is te r e d .......................1950 J -J
120 M ar’Ol:
S o C a rolin a 4 %s 2 0 -4 0 ........1933 J-J
Clue Burl<& Q— D e n v D 4 s 1922 F-A * 9 7 *8 97*2
87*2 . . .
T e n n n ew settle m e n t 3 s ..1 9 1 3 J -J
’ 9 4 ” SalV
94
94
92
96
Illin o is D iv 3*28............... 1949 J -J
93*4 M ay’ 07
V ir g in ia fund d e D t 2 - 3 s ...l 9 9 i J -J
93*4 9 5 3
4
R e g is t e r e d ...................... 1949 J -J
9 s 3 bale
4
28
6s d eferred B r o w n B r o s c t fs ..........
20
30*4
'2 7 5 28
4
G old 4 s ............................. 1949 J -J
I o w a D iv s in k fu n d 5 s . .1919 A -O 105 Hi.........
R a ilr o a d
S in k in g fu n d 4 s ............. 1919 A-O 1 0 0 ‘s 101
labam a C en t See So R y
N e b ra s k a E x te n sio n 4 s . 1927 M-N
laba M id i See A t Coast L in e
R e g is t# r e d .......................1927 M-N
A lb a n y & Susa See D el & H ud
S ou th w estern D iv 4 s ___ 1921 M-S
A lle g h e n y V a lle y See Penn UH
J o in t b on d s See G rea t N orth
101
A lle g < W e s t See Butt R & P
fe
D e b e n tu re 5 s .....................1913 M-N
84 ......... 85
85
A n n A r b o r 1st g 4 s ..........A1995 Q-J
H an & St J o s c o n s o l 6 s ..1911 M-S
81*2 91
98
98®b
A to h T < S Fe— G en g 4 s . 1995 A-O
fc
98 Sale
96*2 102*2 C h ic & E 111 r e f & im p g 4s 1955 J - J
R e g is t e r e d _____ . . . . ____ 1995 A-O
......... 97 *s 97 J ’ n e ’O?
9 3 3 1013
4
4
1st s f cu r 6s ...... ..............1907 J -D 101
A d ju stm en t g 4 s ............A1995 N ov
88 Sale
87*s
88
86
9 2 7e
1st c o n s o l g 6s ...................1934 A-O 127
8 6 A p r ’07
R e g is t e r e d . . . . . . . . . ../I.1995 Nov
■108
86
86
G en eral co n s o l 1s t 5s ___ 1-937 M-N
85 ......... 85*2
S tam p ed ............... .....A 1 9 9 5 M-N
86
R e g is te r e d ...... ............... 1937 M-N
84*2 92 7t
« 8*4
92%
89 Sale
C o n v g 4 s ............................1955 J-D
C h ic to 1 nd C R y 1st 5 s . 1936 J -J
86** 108*4
9~S Sale
97
98 »v
C on v g 5s (s u b s c rip s ).. 1917 J -D
&
97 100*4 C h ica g o < f i n e See E rie
101 J ’l y ’ 07
......... 124
D e b e n tu re s 4s Series F . 1908 F A
99 101
Clue In Si L o u is v ref 6 s ...1 9 4 7 J - J
9S3g M ay’ 07
..........109
» e r ie s G ........................... 1909 F-A
R e fu n d in g g o ld 5 s ............1947 J -J
9 8 '8 98 “b
1 0 2 34 ............
96 F e b ’ 07
Series H .......................... 1910 F A.
96
96
L o u is v N A & Ch 1 st 68.1910 J -J
102
98*2 N o v ’ OJ
S eries 1 ............................ 1911 F A
Clue M il <>St P term g os 1914 J - J
S
100 Sale
94 N o v ’06
S eries K ...........................1913 F-A
G en eral g 4s series A . . e l9 8 9 J - J
E a st O kla D iv 1st g 4 s . .1 9 2 8 W S
l
9 0 * 2 ......... 9 3 M ay *07
-J
91
93
R e g is te r e d ....................e l9 8 9
A t l K n o x & N See L & N
-J
G e n e r a ig 3 *as series B .e l9 8 9
91*2
92*2 26 91*2
A tla n tic C oast 1st g 4 s .ft l 9 5 2 M-S
91*2 Sale
C h ic & L Su D iv g 5 s___ 1921 J - J *106
'C h a r le s & S a v 1st g 7 s ..1 9 3 6 J - J
C h ic & M o R iv D iv 5 s . ..1 9 2 6 J -J •108
i*327 J a n ’ 06
8
S a v F «& W 1st gold 6 s .. 1934 A-O '121
C h ic & P a c D rv 6 s ............1910 J -J 104
112®8 Ja n ’ 04
1st gold 5 s.......................1934 A-O ■108
109*^
C h ic & P W 1st g 5 s........ 1021 J-J
1 1 4 ^ N o v ’ 05
A la M id 1st g u gold 5s ..1 9 2 8 M-N
D a k & G t S o g 5 s ............. 1916 J -J • 103
92*4
99*2 M ar’ 06
B r u n s & W l s t g u g 4 s ..1 9 3 8 J-J
F a r & S ou assu g 6s ........ 1924 J -J ♦115
83
8 3 3 A u g ’ 07
4
89 *
-.
' L < N coU g 4 s ............... 01952 M-N
fe
H a st & D D iv 1st 7 s ........ 191-0 J -J •104%
94 J ’> y ’ 07
S ii S p O ca < G gu g 4 s ..1 9 1 8 J - J
&
94
1st 5 s ................................. 1910 J-J *100
A tla n tic < D an v Se'e Sou th Ky
fc
I & D E x te n l s t 7 e ..........1908 J -J
A u stin & N W <Se«Sou P a cific
L a C rosse & D 1st 5 s ___ 1919 J -J •105
9 0 % 91
90
91
alt < O hio p r io r l g 3 *28.1925 J -J
fe
M in e ra l P o in t D iv 5 s ___ 1910 J -J •100
89% 93*2
R e g i s t e r e d .. . ........... /tl9 2 5 Q-J
89-1 J ’ n e ’ o7
*
So M in n D iv 1st &s..........1910 J -J •102
8 9 18 92*2
97
99
97 Sale
G old 419............................../U 9 4 8 A-O
97 102%
S o u th w e s t D iv 1st 6s ___ 1909, J -J * 101*4
R e g is t e r e d ................. „ /il9 4 8 Q -J
......... 96
97 h. J ’ly ’ 07
W is & M in n D iv g 5 s ___ 1921 J - J *107
97*2 101*2
120 Ucl, ’01
P itts J u n e 1st g o ld 6 s ...1 9 2 V J - J
M U & N o 1st M L 6 s . . ..1 9 1 0 J-D * 1 0 1 %
86 J ’ n e’ 07
P J u n & M l ) i v 1st g 3*281925' M-N
1st c o n s o l 6s ...................1913 J-D * 10*
8 6 “ " 9* "
6
-F 117 120
89 7g Aug-07
88->4 90
P L E & W V a S y s r e f 4 s l9 4 1 M-N
C h ic & N o rth w c o n s 7 s ___ 1915
89*2 96
A
86
8 6 3«
S ou tliw DiV 1st g 3 % s . . . 1925 J -J
8tj34 Sale
E x te n sio n 4 s ..........1886-1926
8 5 34 9 0 3
4
99*2 .
89 O ct ’ 06
R e g is t e r e d .................../«.1925 Q-J
R e g is te r e d ............1886-1926 F-A
M on on K iv 1st g u g 5 s . . 1919 F-A '100 ....... 1057g F e b ’ Ol
G pneral g o ld 3*28............. 1987 M-N
1 0 5 7 105 7s
s
Cen O hio R 1st C g 4 % s ..l 9 3 0 M-S l o o
109 A p r ’05
R e g is t e r e d ................... p 1-987 Q -F
Ol L or < W c o n 1st g 5s 1933 A-O 1 0 9 %
fc
1093 J ’ n e’ 07
4
S in k in g fu n d 6 s . . .1 879-1929 A-O 1 06 *2.........
i*093 i ’l T
4
3®8
O h io R iv e r R,R 1st g 58.1936 J -D
116 M ay’ OU
R e g is te r e d ........... 1879-1929 A-O
113*2 N o v ’ 06
G en era l g old 5 s ,........... 1937 A -u ’ ......... 110
S in k in g fu n d 5 s . . .1 879-1929 A-O i o o " " " "
P it t s C lb t do T o l lk t g 6s 1922 A-O ’ 110 ........ 119 *2 Matr’04
R e g is te r e d ........... 1879-1929 A-O
94 M a r’ o
P itts & W es t 1st g 4 e . . , 1917 J -J ' 90*2 ........
D e b e n tu r e 5 s .....................1909 M-N i b o *4 Sale"
Stat* l s l R y 1 s t g u g 4 %s 1943 J -I>
100 2 {o v ’ 04
R e g is te r e d ...................... 1909 M-N
B a t C reek < S See M ich Cent
te
D e b e n tu r e 5 s...................;1921 A-O 104 *s
B eeoli C reek See N ¥ C & H
R e g is t e r e d ...................... 19£1 A-O 103
B e lle v < Car- See Illin o is Com
fe
S in k in g fu n d d eb 5 s ........1-933, M-N .........112
B k ly n * M on ta u k See L o n g I
R e g is te r e d ...................... 1933 M-N
B ru n s A W est See A t l O oast L
N o rth I llin » is 1st 5e___ 1910 M-S
B u ffalo N Y & E rie See E rie
O tt C F <fc St P a u l 1st 5s 1909 M-S
B u ffalo B < P gen g 5 a ...1 9 3 7 M-S
fc
ll3 * 2 M s y ’ 0?
W 'inona < St P e t 2 d 7 s . .1 9 0 ? M-N 100 7g
fc
112 118^2
A l l & W es t l a t g 4s g u . . 1-998 A -O 101
103 *2 F e b ’07
M il L S & W est 1st g 6s 1921 M-N ■US
102 103*2
Cl & M ah 1st g u g 5 s ___ 1943 J •J '1 0 5 ......... 103 A p r *97
E x t <fc Im p s fu n d g 5s 1929 F-A 110
. R o c h & P itts 1st g 6 s ...1 9 2 1 F-A 114 *a......... 124 A p r ’ 06
AslU and D iv 1st g 6 s . .1 9 2 5 M-S
C on sol 1st g 6 s ............. 1922 J -D
118 J ’n e ’ 07
M id i D iv 1st g 6 s . ........1924 J -J
118 123*2
B u ffalo <fc Southw est, h'ee Erie
I n c o m e s .......................... 1911 M-N 100
Bufl'tfe Susn 1st r e f g 4 s .d l9 5 1 J - J
.......... 93 *s 94*2 A p r ’07
8 9 3 96% C lue R o c k ls l & P a c 6 s ...1 9 1 7 J -J ‘ 114*4
4
B u r C R & J T See G U I & P
S
R e g is te r e d ...................... 1917 J -J
Canada S ou th ls fr 5 s ........ 1908 J -J
99 * -102 *2
2
99% Sale
G e n e ra l g o ld 4 s ................. 1988 J-J
......... 97*4
99*2
99 7t
'2 d 5 8 ................................... 1913 M -8 1 0 1* * ........ 101»4 101“,
R e g is te r e d ..................... 1988 J -J
101 105 *2
' R e g i s t e r e d .. . .. ............. 1913 M-S
9 7 % ........ 100a4 M ay’ 07
W W ' 87*4
R e f u n d in g g 4 s ............... 1934 A-O
10034 1 0 0 3
4
C arb < Shaw n See 111 C ent
fe
94j?t
C oll tr u s t S e n e s H 4s . . 1910 M-N
C arolina C en t See Seab A ir L
9 1 % ........
J 4 s ................................... 1912 M-N
C a rth a ge & A d See N Y C & H
87 ___
M * s ................................... 1915 M-N
Ced R fa F & N See B C R d i K
87 ..........
N 4 s ................................... 1916 M-N
C en B rjin cn Ky See M o P a c
O 4 s ....................................1917 M-N
85^
C en t o f G a R B 1st g 6 s ..jH 9 4 5 F-A
85 .........
116 M ar’ 07
P 4 s ........................ ..........1918 M-N
116 116
C on sol g old 5 s...................1946 M-N 10-2 *2 Sale 102 i-j 103*2
C h ic R I f i P a e R R 4 s . . 2002 M-N
102*8.111
66 Sale
R e g is te r e d ...................... 194& m-N
113 A p r ’06
R e a is te re d ......................2002 M N
85*2 J ’i y ’ 07
1st pret in c o m e g 5 s . . , . p l 9 4 5 Oct
C oll tru st go ld 5 s ......... 1913 M-S ' s i " " 8 6 "
85
90
85
S t a m p e d ........................................... .
B u r C ed R & N o r t h e r n —
85
8 8 M-ay’07
85' 90
2u pret u icom e g 5 s ___ p l9 4 & Oot
70
76
70 J ’ n e ’ 07
C‘o u 1st & eo l tr g 5 s ...1 9 3 4 A-O
65
117
S t a m p e d .............................................
R e g is te r e d ............... 1.1934 A-O 111*2.
66*2 A u g ’ 071
66^2 7 434
So pret in com e g 5s----- # 1 9 4 5 Oct
5 0 J ’l y ’ 07
50
O R 1F -& N W 1st g u 5 s . 1-921 A-O 104
50
65
S t a m p e d ...................................
50
66
M & S t L 1 s t g u g 7 s ..19 2 7 J-D
5 0 A u g ’07
t . S , ( < « v t n i in e ii l
T S 2s c o n s o l re g is te r e d . rtl93 o
X
U S 2s co n so l c o u p o n ....t i l 9 3 o
TJ 8 3s r e g is t e r e d _______ /cl91fc
U 8 3s c o u p o n ............. .......&1918
U 8 3s reg sm all b o n d s ..£ 1 9 1 8
U S 3s c o u sm all b o n d s ..fc l9 1 8
TJ 8 4s r e g is t e r e d ... . . . . . . . 1 9 2 6
TT 8 4s c o u p o n ...................... 1925
U S P a n Cun 10-30 y r 2s.fcl 93<
P h ilin n in e isla n d s 48.1914 -34
P u b w k « and im p re - 4s 193.'
P u b vrks and im p r e g . ..1 9 3 0

Q-J
q -J
Q-F
q -F
Q-F
Q -F
y- F
Q F
Q N
>F
Q. S
Q -F

.....

A

.....

B

....
....

.... .

C

.....

.....

!H ]!S C E lJ > A N E O | j 8
S tr e e t R a ilw a y
B r o o k ly n R a p T r g 5 s ........1945
1st refu n d c o n v g 4s ___ 2002
B k C it y 1st con 5 s.1 9 1 6 .1 9 4 1
B k y C o & S con g u g 5 s . 1941
B k ly n U 1 E l 1st g 4-5S.1950
1
Stam ped gu a r 4 -5 s___ 1950
K in g s C o E l 1st g 4 s . __ 1949
S tam ped g u a r 4 s ..........1949
N a ssa u EUsc g>u g 4 s ___ 1951
C on u K y & L l s t & r e f g 4 % s ’ 51
S tam ped gu a r 4 *28_____ 1951
D en Con T r C o 1st g 5 s . ..1 9 3 3
D e t U n ited 1st c o n g 4 % s .l9 3 2
H a v a n a Klee c o n s o l g 5 s . 1952
In t e r -M e t c o ll 4 *28............. 1956
I n t e r n a l-T r a c c o ll t r 4 s ..1 9 4 9
IiOiiix Ky C o 1st c o n ir 6 s . .1 9 3 0
M a n ila K lee 1st & c o ll 58.1 9 6 3

A-O 100 Sale
J -J
7 6 *2 Sale
J -J
1 0 0 % ........
M-N
10t>
F-A
98% Sale
F-A
F-A
F -A ‘ ......... 81*2
J -J .......... 83%
.........101%
J -J
97% 9 8 %
J -J
A-O
*85"
J-J
F-A ........ 88
61 % Sal*
A-O
J -J
6 6 % 69*2
J -J
Wl-S

.....

100
2
100
78% 105
76*4
1 0 0 * A u g ’o 7
2
100 A u g ’ 07
30
98 3
4 100
10* J ’l y ’ 07
87 F e b ’ 07
803
4
82
27
82 A u g ’ 07
M ’07
98*2 •
9^34 J-’ n e’ 07
95 J ’ n e’ OO
85 A u g ’ 07
80% J ’ n e ’ i;7
o4
66 * 239S
<
69*4 J ’ l y ’ 07
109 M ar’ S)!'
98 M ay’ 06

R ange
Since
J a n u a ry 1

L 010
H igh
93 J ’n e ’06
1 10*2 D e c ’(10
i!5
N o v ’ 05
115 *a A u g ’ OS
100 A u g ’ 07
121*8 1 2 1 %
121
121
107
107

Low H igh,

100 108
121% l .:6 %
120 *2 126
IO63, 111

99 S
98*,

99-v 100*2
97% 101

99*2
98*4
88

M ay’ 07

85

89 %

102% J ’ ly ’ 07
105 J ’l y ’ 07
110
110%
116 J ’ n e ’06
101
101V
104 M ay’ 06
__
112 F e b ’ 06
97 % M ay’ Oi
90 J ’n e ’ o7
113*4 F e b ’ 05
99% F e b ’ 00
76 J ’l y ’07
66 A u g ’ 07
80 *g M ay’05
97 V
97 s
87%
3y >
2
90 Sep ’00
98%
100*2
106 M ay’07
100*2 J ’n e ’07
101 A u g ’ 07
101*4 D e c ’06
LOO J ’l y ’06

100 105
104 107
109% 116

983
4
106
983
4
100

i0 3 "
106
104
102

101*2 J ’ly ’ 07
105*2 J ’i y ’ 07
92 A p r ’ 07
100*2 J ’ i y ’ 07
128*8 J ’ly :o /
.109 A u g ’ 07
118*2 F e b ’ ob
113*2 F e b ’ 07

100h
1 05 %
92
100%
126
i0 o %

104
109
92
103
128*2
117%

1'24*2 J ’n e ’ 07
111*8 J ’n e ’ 07
102% J ’l y ’ 07
102% A u g ’ 07
100
luO
104 *s O ct ’ 06
89 J ’ly ’07
l l o ’-4 O ct ’ 05
109
109
104 A u g ’ 07
109*2 109*2
106 J ’ n e’ 07
1 3 7 *2J’ l y ’ 99
105 >2 J ’ i y ’ 07
100*2 J ’ l y ’07
182 >2 A p r ’06
106*2 J ’l y ’ 07
102 *2 A p r ’ u7
10^ A u g ’ 07
102% A u g 07
110 J ’ n e’ 07
106% F e b ’ OV
1-07 J ’ n e ’u7
118% M ay’ 07
101*2 M ay’07
104 F e b ’07
94*4 J 'ly ’ 07
95 F e b ’ 07
107 J ’ n e’ 07
106 *3 J ’n e ’07
105 *
4 lOaAi
107% J ’ n e ’ 06
100*4 1-00*4
9 9% J ’ n e’ 07
H>7 J a n ’ 07
103 J ’n e ’ 07
113% A p i ’ 07
117 F e b ’ 06
105 *4 D e c ’ O;1 0 0 % M a y ’ 07
10.0 ‘8 iu o %
1 2 0 J ’l y ’ 07
113 > M ay’07
2
142% F e b ’ 02
128 *2 F e b ’ 06
109 Sep ’ 03
114 J ’ l y ’ 07
116% M a r’07
974a
97*2
9934 F e b ’07
87%
*8
97 J ’ l y ’ 04
92*2 N o v ’ 06
90*4 J a n ’ 07
93 M ay’ 04
90% F e b ’07
84 M ay’ 07
O
tJ.
68
176
79 D e c ’ 05
84%
86

124%
107
102
102%
100

115% J ’l y ’ 07
120% M ar’ 08
111 N o v ’ 05

99% 105%
96*2 100*2
90
92*2
80
76%
9 7 % 100 *2
87% 92%

il3 % il3 %
126%
111%
105
106*4
107

" 8 8 % "93%
i 0 9 " i '1’3 %
104 105%
109 112
106 106%
105*2 "lo ti"
100*2 1 0 0 %
1 0 6 *a l0 8 %
102*2 103
1 02 % 105%
102 V 104
107% 110%
10 6 % 1 0 7
107 1 1 1 4
1 18 % 12 1
10 L > 102
2
104 104
92 % 98
^5
95
106 107
1.06*4 10*6 *<
l o u % 107
ib” ) V 102%
98 101
107 107
103 103
113% 114%
100%
100%
120
113

10.2 %
101%
U ’3%
113*2

114 117*2
116*2 1 16*2
97*2 100*2
99*2 99%
87% 91%
” v o% "9 0 %
90%
84
66

90%
90
77

82

91%

1 1 4 % 117

B O > !)■''— C o n tin u e d 011 N e x t Paste.

S tre et R a ilw a y
M et S t R y g e n co l t r g 5 s . 1997
R e f g 4 s ............................... 2002
B w a y ( & 7 t h A v l s t c g » s 1943
Col<B 9tll A v 1st g u g 58.1993
Lex A v & P F ls t g u g 5 s l9 9 3
T h ird A v e R R co n g u 4s 2000
T h ir d A v e R y 1st g 5 s . .1 9 3 7
M et W S E l (C h ic) I s t g 4 s .l 9 3 8
M il El R y & L 3 0-y r g 5 s . 1926
M in n S t B y 1st c o n g 5 s . . 1919
N O r! R y & L t g e n 4% s ..1 9 3 5
S t J o s R y L t H & P 1st g 5s ’ 37
85
86 *s S t P a u l C ity Cab co n g 5 s . 1937
6 n d e rg ro u n d o f L o n 5 s ...l9 o r>
» 0*2 93
82
54
U m on E l (C h ic) 1st g 5 s .. 1945
73
68
U n ited R R s San F r s f 4 s . 1927
U n ited R y s S t L 1st g 4 s . 1934
W C h ic S t 4 0 -y r c o n g 5 s .1936

100
76*4
100*2
100
983
4
102
87
80%
79
98*2
98%

107
92%
103*4
101*2
108
104
89
88%
86
102*2
9 8 s,

_ ..... .....

F-A
A-O
J -D ......... 107 *2
M-S 107 .........
M-S 107*3 Sale
75 bale
J -J
J -J
F-A
F-A
J-J
J -J
M-N
J-J
J -D ......... 72
A-O
70
A-O
J-J ■ 79
. r
m >

*No price Friday; latest prioo this week. aDue Jan d Due Apr t Due May ^ Due j'ne ADue J’ly k due .-v




W eek’ s
R an ge or
Last Sale

....

101 J ’l y ’ 07
100 108%
7if A u g ’ 07
73
85
104*2 104% 12 1 0 4 % 1 1 3
109 A n g ’ 07
109 113%
107% 107*2
107*2 110
75
79 *2
75
89
1083 J ’ly ’ 07
4
108% 114>a
93*2 J ’ i y ’ 06
109 J ’l y ’06
107% F e b ’06
90 *2 Sep ’ 06
103*4 O ct ’ 06
110*2 N ov ’ OK
70 J ’ly ’ u7
70
94
'lo o J a n ’07
100 100
72*« J ’ l y ’ 07
67
83%
79*2 J ’l y ’ 07
79% 85
99 D e c '97

p uu6 Noy « Option Sale

392
N

New York Bond Record— Continued—Page 2

BO N D?*
Y. S T O C K E X C H A \<-J !■

t-TICt

hriiio.ti

Wkkk ending august 16

A u y u s t Jfi

lia n q e or
Last NrJr

o -

Low
H ii' i
C h ic B o o k i * P a c - ( C o n )
109 N ov
Clioo Ok & O s e n g 5s .01919 J -J
r
111 M ay’ 06 . . . .
C on sol gold 5 s ............... 1952 M-N
. 101
103 J ’n e’O"
K e o k * D f s M l a t o s ___ 11*2 A-O
C lue .-'C i .& N O See 111 Cent
O hio S t L * P itta See Penn Go
Ohio S i P 51 * O con 6 s . ..1 9 3 0 j-:
128*2 128 A n g ’ 07
93 I>ec’o8
C ons 6s r e d u ce d to 3*vs.l9 3t j - j i )
13 m F e b ’07
Cli S t P * M iu u Istg tS s 191 M-N • 1 2 4 ^
129s, M a r’t>4
N o r W iscon sin 1st 6 s ...l9 ;-to J-J
11 7 *k J ’ ly ’ 07
St P < S C ity l s t g 6s. ..1 9 1 9 A-O 115*2 .
fc
97*4 A w r’ i>7
C h ica g o T e r T ra n s g 4 s . . .1 9 4 ' J -J
1 0 9 M »y ’(>7
C ou pon o t l .................................
C h i c * W e s t Inrt g e n g 6s 919 32 ti-M 108
110 J ’ly ’ 07
9 7 7g A p r ’ 07
C on sol 50 y ea r 4 s ............. 1952 J . J
Clue * W M ic h s e e P e r o M a r q
C h oc u & G u lf See C R I * P
113 Oat. ’00
0111 H & D 2d s o ld 4*28 ...1 9 3 7 J -J
102 J ’n e ’ 07
Cin 1> * I 1st g u g 5 s . ..1 9 4 M-N
C F in d & F t W 3 «it gu 4s g.’ 23 M-N
83 Jan ’07
O la i cfe W 1st tru tf 4S .195 8 J-J
104 F e b ’ 07
In d D e c & W 1st g 5 s . . .1935 J -J
107*2 D e c 02
1st g u a r gold 5 s ............. 1935 J -J
C I S t L < f c C s e e O O C & S t l.
C in 8 * 0
.Sea 0 C O St L
C learfield * M ali See B R & P
97 Sale
97
97**
C lev C m C & St L sren g 4s 1993 J-D
99®g J a n ’ o7
C airo D iv 1st gold 4 s ___ 1939 J-J
94
97*4 A p r ’ 07
C in W * M D i v l s t g 4 s . l 9 9 1 J -J
93
93*a
94
St L D iv 1st c o l tr g 4 a ..1 9 9 0 tl-N
97 J « a ’ 0
R ejn stered ...................... 199< M-N
99
F e b ’06
Spr * C ol D iv 1st sr 4 s . .1 9 4 0 M-S
91
.......
98 Sep ’ 06
W W Val D iv 1st g 4 s . . . 1940 J -J
U 1 St L * C con sol 6 s .. 1920 M-K 104 U ........ 105 J a j i ’ 04
98 J ’ly >07
97=%
1st gold 4 s ...................../c l936 Q-B
95
96
......... 97
R e g is t e r e d ...............£198(5
106 ........ 109 J ’ n e’ 07
Cm s * Cl con 1st g 5s. .1 9 2 *
0 C C * I co n s o l 7s ..........1914 J-D 115>4........ 118*2 J a n ’ 0
C on sol s in k fu n d 7 s ___ 1914 J-D
.129** 127 J ’l y ’ 07
G en eral oon soi gold 6 s .1934 J-J
R e g is te r e d ...................1934 J -J
1 0 4 * a N o v ’01
Ind B t & W 1st p r e f 4 s .1940 A -0
O Ind * W 1st p f 5 s ...(i l 9 3 S y . J
89
91
P eo * K ast 1st con 4 s . . .1940 A -0
91 A u g '0 7
51
In c o m e 4 s ........................ 1990 A p r
55
o5
C lev * M arietta 6'eeP enn R R
C lev & P itts s e e P en n Co
62
66
Col MicUaml 1st g 4 s ..........1947 J -J
64
64
86*2 87
86
86
C olorado < Son 1st g 4 s . . .1 9 2 9
fe
......... 91
95 F e b ’ 07
R e f u n d * ext4*-_.s......... 1935
Coium & w re e n v nee So R y
Coi * H ock Val .See H o ck Vai
C ol * T ot See H o c k V a l
Col C on n & T erm s e e is & W
C onn * P as R iv s 1st g 4 s . 1943
t a k * G t S o See (J M & S t P
'a tla s * W a co See M K * X
Del L a ck & W estern 7 s ...1 9 0 7 M-S 103*4 .
1 0 2 ^ M ay’07
117*4 A u g ’ 07
M o r r i s * E s s e x 1 s t 7 s . . .1 9 1 4 M-N 116*8 .
1 2 1 3* A .p r’07
1st c o n so l gu ar 7 s ........1915 J-D 118*4 .
127 J ’ n e ’05
R e g is te r e d ...................1915 J-D
1st r e f g u g 3 kts........... 2000 J-D
N Y L a ck * W 1st 6 s . . .1921 J -J 115*2 120*4 123 J ’ly ’07
C on s tru ction 5 s ............1923 b'-A 106 <a.......... 107*4 A u g ’ 07
97 J ’l y ’ 07
T erm & im p ro v e 4 s ___ 1923 M-N
102 F e b ’03
W a rre n 1st ret g u g 3 *a«. 2000 P-A
Del * H u d 1st P a D iv 7 8 .1 9 1 ' M-S
133 F o b ’ 06
149 A u g’ 01
R e g is te r e d ...................... 1917 M-S
93 *2 Sale
92
95
1 0 -y r o o n v d eb 48............1916 J-D
89 *2 Sale
89
91
A lb & Sus c o n v 3*28........1946 A -0
133 *2 D e c >06
tiena & Saratoga 1st 7 s .1921 M-N
D ei R iv R R B r id g e See P a R R
93^
94
94
D e n v * R G r 1st co n g 4 8 .1936 J-J
102*8 J a n ’ 07
C on sol gold 4*28............... 1936 J -J
98*4 104
105 *a F e b ’ 07
Im p r o v e m e n t g old 5 s ...1 9 2 s J-D
R io G r J u n e 1st gu g 5 s .l9 3 9
109 M.ar’ 05
D
76 D e c ’ 05
R io g r So l e t g o ld 4 s ___ 1940 J . j
89 J a c ’05
G u a ra n teed .....................1940 J - J
91
90*4 A u g ’07
R io G r W e s t 1 s t g 4 s ___ 1939 J - j
79*2 8 7 s4 F e b ’ 07
M g e a n d c o lt r u s t 4 s A . 1949 A -0
93
97 J a n ’ 02
Utah C en t l s t g u g 4 s a l9 1 7 A -0
D es M oi & F t D See M * S t L
110 Sep ’ 04
D ee M oi U n R y 1st g 5 s ..1 9 1 7 M-N
90
92 M ar’ 07
D et & M ack 1st lien g 4 s .1995 J-D
89 A p r ’ 07
G old 4 s ..................................1995 J-D
D etroit S ou th ern
86 O ct ’ 06
O h io Sou D lv 1st g 4 8 ...1 9 4 1 M-S
D ul & ir o n R a n g e 1 st 5 a ..19 3 7 A-O 107 ........ 107 J ’ l y ’ 07
........109
112*a F e b ’ 06
R e g is te r e d .......................... 1937 A-O
Sd 6 s ..................................... 1916 J -J
D ul S h ort L in e See N o r P a o
110 J ’l y ’ 07
D a l S o S h ore * A t l g 5 s ..1 9 3 7 J -J
L ’ ast o f M in n See S t P M & M
Aliast T e n V a & G a See S o R y
110»< J ’ n e’ 07
E lg in J o l * K ast 1st g 5 a .1941 M-K
Elm C o rt & N o See Leh<fe N Y
107*2 J a n ’ 06
E rie 1st e x t gold 4 s............. 1947 M-K
2d e x t g old 5 s .................... 1919 M-S ■107 ........ 107*2 J ’n e ’07
3d e x t g old 4 *28.................1923 M- S 1 0 3 *2 ........ 103 *sM ay '07
4th e x t g old 5 s ...................1920 A -O ■107*4........ 108 J ’l y ’ 07
6th e x t g old 4 s ...................1928 J-D ■ 96 ........ 100 J ’ n e ’ 07
128
1st c o n s o l g old 7 s ............. 1920 M-S ......... 128*2 128
1st c o n s o l g la n d 7a........1920 M-S
133 F e b ’06
94
E rie 1st con g 4 s p r i o r ..1996 J -J "*93*i "9 4 " 93*4
99 *2 O ct ’ 06
R e g is te r e d .......................1996 J -J
79*2
80
i s t co n s o l gen lien g 4 s . . 1996 J -J ’ 7 9 ^ Sale
85 *a F e b ’07
R e g is te r e d .......................1996 J -J
P en n c o ll tr g 4 s ............. 1951 F-A " " " ' 8 4 *
82
82
6 0-year c o n v 4s A ......... 1953 A-O
73
76*i
.......... 76
do
S erie s B ...1 9 5 3 A -0
68 A u g ’07
B u ft N Y & E r ie 1st 7 s . . 1916 J -D 118
117*4 J ’ l y ’07
1 0 4 V F e b ’ 06
Butt * S W gold 6 s ..........1908 J - J
115 J ’l y ’ 07
C h ic & E rie 1st g o ld 5 s ..1 9 8 2 M-N i l 3 '
C l e v * M atiou V a l g o s . 1938 J -J
107
116*2 Jan ’0^
Jett R R 1st g u g 5 s ___ a l9 0 9 A - 0 101
101
101
L o n g D ock co n s o l g 6 a ..1 9 3 5 A -O
126 M ay'07
C oal & R R la t cu r g n 68.1922 M-N
118 S e p ’ 06
D o c k * Im p 1st c u r 6 s ..1 9 1 3 J - J
104
10978 O ct ’ 05
X Y & G reen L g u g 5 s .l9 4 6 M-N 107
T
121*3 D e c ’ 06

.

....

5 f:f

Low

H ig h

103

103

126*4 131
131*4 131*4

i L 120
6»s
97% 97*4
97 IO9 I4
109*4 113
9 7 78 98

102

105*4

83
83
104*2 105

96*,
993*
97
93
97

102
9 9 “s
98
98 3j
97

97 *2 99
96
99*2
109 109
118*2 118*ii
127

132

64

74 >
4

94*8
95

1 0 1 ^ 104*2
117 *2 117 S,

121*8 12138
1 22

J -D
M-N
A -O
J -J
J -J
F-A
M-S
J-D
F A
J-D
F-A
M-N
A-O
A-O
A-O
J -J

......... 85
104 »2 Sale

......... 118

97

97

92
89

109*4
110

92

97»<

102*
81021
8

1 0 4 \ 106 *
.,

90*4
87*<

95
87*4

92
92*2
107

111*2

110

112

110*4 11034
107 *2 109
103*8 1031s
108 108

100 1007
e

126

1291
2

9 1 " “ 9 9 'v,
79*4
85*2
80
73
68
116*2

*8 8 "
80*2
91*2
10334
87
120*2

114*4 119
100*4 101
126 130

.

R a n ge
1
1 Since
< < \fan uary 1

E rie — ( C on )
108 *2 J ’ly ’ 07
ii V Sns < W 1st re f 5 s .193 J-J *106
&
FA
100*4 D e c ’ Oo
2d gold 4 * .................... 193
2"
100 A u g ’ 07
. 100
G eneral g old 5 s ............. 194n F-A
1103s M ay’ 07
T e rm ln a lT st ffolil 5 s . .. 1943 M-N T 10 J8 .
R e e ls * 5 ,0 0 0 e a c h ...1 9 4 3 M-N
M id R R o t N J 1 s t g 6s. 1910 A -0 104 *4........ 1043g l O i 8*
W illc < E » 1st g u I? 5s. 1942 J-D ......... 105*9 105 *2 A p r ’ 07
fc
116 A p r ’ Ob
In d l s t c o n g u g 6 s .,1 9 2 6 J -J
E r ie < P itts s e e P e n n Co
fc
E v a n s & T f l 1st c o n s 68.1921 J -J
116 J ’ ne'07
ls t g e n e r a i gold 5 s..........1942 A O
103 *2 J ’ly ’07
114 A p r ’05
M t V e rn o n 1 s t g old 6 s ..1923 A -0
S a il Oo Brunch 1st g 5 s . 1930 A-O
106*4 F e b ’ 06
'a rg o < 80 See Ch M < St P
fc
fc
lin t & P e re M See P e re M ar
Fla C < P e n m See Sea A ir L in e
fi>
105 M ar’ S4
'
F o rt S t U D Co 1st g 4 *
28.1941 J -J
107 A u g ’ 07
Ft W A D e n C 1st g 6 e . .. .l 9 2 1 J-D 106 107
82
85
8"
Ft W<S> R io G r 1st g 4 s . .. 1928 J -J
^*8
1 ^al H » r < 8 A See So P a e Co
fe
100 M ar’ 07
' T ai H & H o f 1 8 8 2 1 s t 5 s .1913
G eorg ia & A la See Sea A L in e
G a Car < N o r See Sea A L ine
fc
G eorg ia P a cific See So R y
G ila V G & N o r See So Pao Co
G o u v < 08W 6gat See N Y Ceni
fc
G rand Rap & In d see Penn R R
G ra y ’ s P t T e rm See S t L S W
90*2 Sale
90*2
92 k 391
G t N o r—C B & Q co ll tr 4s 1921
•91*4 ......... 9234 A u g ’ 07
R e g is te r e d . K .....................1921
G re e n b rie r R y See Ches & O
98 J ’ly ’ 07
G u ll * S 1 1st re f * t g 5s 61952
an & S t J o See C B < Q
fe
o u sa to n io See N Y N H * H
102
. 102*2 102
H o ck V al 1 st c o n s o l g 4 *
28.1999 J - J
103 N o v ’ 06
R e g is te r e d .......................... 1999 J -J
9S34 N oy ’ O
I!
Col & H V 1st e x t g 4 s . . l 9 4 8 A -O
99 A p r ’ 07
C ol & T o l 1st e x 4 s ........1955 F-A
H o u st E & W T e x See 80 Pac
H o u st * T e x Cen See So P a c Co
104 J ’l y ’ O
llin o is C en tral 1st g 4 s . .1951 J -J 104*2.
R e g is te r e d ...................... 1951 J-J
107H A p r ’ U7
1st gold 3*28...................... 1951 J -J
*98*4 '
100 J ’ n e ’ 07
R e g is te r e d ...................... 1951 J -J
95*2 J ’l y '06
E x te n d e d 1st g 3*28........1951 A -0
91*4 99*2 J ’ n e’ 06
1st gold 3s s te r lin g ..........1951
70 0 c t , ’04
S
C oll T r u s t g old 4 s ............1952- A -0 •98
100 J ’ l y ’ 07
l»8 M a y’o7
R e g is te r e d ...................... 1952 A-O
98*2 J ’ n e ’07
L N O & T e x gold 4s ...1 9 5 3 ' M-N *98*4
97 M a y’07
R e g is te r e d ...................... 1953 M-N
102*4 Jan ’ (>7
C airo B r id g e gold 4a___ 1950 J -D
•88
89 M ay’07
Lou.\8v D iv * T e r m g 3 *
28.1953 J . j
123 M uy’ 99
M id dle D i v r e g 5 a ............1921 K-A
78*2 A p r ’06
O m aha D iv 1st g 3a........1951 F A
80
78*4 F e b ’07
S t L o u is D iv * t e r m g 3 s .l9 5 1 J -J
R e g is te r e d ...................... 1951 J -J
89*-. 89 M a r’ 07
G old 3 *28........................ 1951 J - J
101 *8 O ct ’ 99
R e g is te r e d ...................1951 j -J
100 N o v ’ OO
S p rin g D iv 1st g 3 *
28...1 9 5 1 J -J
97*4
97*4
W estern L in es 1st g 4 s . .1951 F-A *97*4
B e lle v * Car 1st 6s ........1923 J-D
122 D e o ’ 05
97 M a r’07
C arb * Sha-w 1st g 4 s . . .19 3 2 M-S
C h ic St L * N O g 5 s . . .1951 J -D
118*4 A p r ’07
R e g is te r e d ...................... 1951 J-D
119a4 M ar’ 04
G old 3*28..........................1951 J-D
9 3 ssM u y ’ 04
R e g is te r e d ...................1951 J-D
J-D •98 H
i
100 > M ay’07
2
M ein ph D iv 1st g 4 s . .. l 9 5 1
97
S t L S ou 1st g u g 4 s ___ 1931 M-S
97 M ar'07
In d B1 & W e st See C C C * St L
In d 111 < l a 1st g 4 s ......... 1950 J - J
fc
93 *2 M ay’ 07
114 A u g ’ 07
I n t * G rea t N o r 1st g 6a .. 1919 M-N ..........114
2d g old 5 s ............................1909 M-S
97 > Sale
2
97*2
y ?*2 13
65
70
3d g old 48............................1921 M-S
65 J ’ l y ’ 07
Io w a C en tral 1st g old 5 » ..1 9 3 8 J-D 1 0 1 * 2 ......... 1017g 102
3
G old 4 s ................................. 1951 M-S
79*2 82 J ’n e ’ 07
Jefferaon R R See E rie
I / al A * G R See L S * M S
‘ V a n * M ich See T o i & O C
K C F t S & M See St L * 8 F
K C & M R & B Sec St L & S F
i£an C * P a cific See M K & T
Kan C ity S ou 1st g o ld 3 s .. 1950 A-O
68 *a Sale
67 *9
69*4
R e g is te re d .......................... 1950 A -0
63 O ct ’ 00
K e n tu c k y C en t See L & N
K eok & D es M o See C R I & P
K n o x v ille * O hio See So R y
ake E r i e * W 1 s t g 5 s . . 1987 J -J 111>9
112** 112*8
2d g o ld 58........................ 1941 J -J
......... 106*2 107 J ’ n e’ 07
N o r m O hio 1st g n g 5 s . .1 9 4 5 A-O 109 .......... 110 A p r ’ O
L Sho & M ic h 8 See N Y Cent
L eh V a l N Y 1 st g u g4*2S .1940 J -J
106
106 A u g ’ 07
R e g is te r e d .......................... 1940 J - J
106 May'O'
L e h ig h V a l (P a) o on s g 4 s . 2003 M-N
95 O ct ’06
L eu V T e r R y 1st g u g 58.1941 A-O
114*4 112*2 A u g ’ 07
109 *2 O ct ’99
R e g is te r e d .......................... 1941 A-O
L eh V Coal C o 1 st g u g 5 s .1933 J-J
112 *2 M ay’ (»7
L eh * N Y 1st gu a r g 4 s .. 1945 M-S •95 ......... 95*8 J’ n e’ 07
R e g is te r e d .......................... 1945 M-S
E 1 C & N 1st p f 6a . .. .. 1 9 1 4 A -0
113 7b J a n ’06
G o ld gu a r 5 s ...................1914 A -0 • 9 9 * i " i r .! 105*4 J a n ’ Oti
Leh * H u d R See C en t o f N J
L eh & W ilk esb See C en t o f N J
L e ro y * C a n ey V a l See M o P
L o n g D o ck See E rie
L o n g I s l’ d—1st con g 5 s .7 il9 3 1 Q -J 1 1 0 »* .
110 ». J ’l y ’ 07
1st c o n so l g old 4a..........A1931
G en era l g o ld 4a.................1938
1
....... 924 94 J ’ l y ’ 07
F e r r y g o ld 4 *28.................1922 M-S 1
....... 98*8 102 N o v ’ 06
G old 4 s ................................. 1932 J-D
99*4 O ct ’06
U n ified g old 4 a .................1949 M-S
" 9 4 ^ 94 7s A p r ’07
D e b e n tu re g o ld 5 s ............1934 J-D .........103*2 110 J ’ ne’ 04
G uar r e f g o ld 4 s ............... 1949 M-S
9-1*2 96*2 95*2 J ’ly ’07
B k iy n * M o n t 1 s t g 6 s . . 1911 M-S 104
l e t 5 s ................................. 1911 M-S T00<\,......... 100 M a r’ 07
N Y B & M B 1st c o n g 5s 1935 A-O 1 0 5
1 1 0 * N o v ’06
4
N Y * R B 1st g 6 s ........1927 M-S
105 A p r ’ O
N o r Sh B l 8t c o n g g u 5 s o l9 3 2
J
109 N o v ’ 06
L o u is ia n a & A r k 1st g 5 a .1927 M-S
103 “a F e b ’ O

Ijoio H igh,
108 110*2
100

103

110*8 110*2
1037g 1043*

105*2 105 >
*

116 116
103*2 106*8

F

H

i(«i**aiV5’
82

87

100

103

8 9 1 98 \
4
d s °8 96*2
98

102*2

100*4 105*4
99

99

104

104

100

1 0 0 7g

98
98
98*2
97
102*4
89

1023
4
98
103*2
97
102*4
91

78*4

78*4

10738 107*8

88*4 89
i?*4 102
97
97
118*, 118*4

...

to o > 100*2
2
97
97

...

.....

93*2 100
111 115*2
95
99**
65
79
101 111
82
85

.....

L

n

67^2 73

111 114
106*2 107 7S
110 110*8
104*4 107**
106 106
112*2 113*4
112*2 112*2

95 ^

96*4

110*4 114i*
92

99

94

95*2

94S

99*2

100

102*2

id s" i'0 9 ^
ibs’4 i'0 3 ’4

B O N D S — C o n tin u e d o n N e x t P a g e .

101*2 105 *»

101
63
104
97*2
100

N o p rice Friday; la test bidand asked this week, o D ue Jan b D ue Feb d D ue A pr e D ue May Z iU u e J 'ly




| Wee/c’ s
| fla n g e or

( i n s m id E l e c t r ic L ig h t
L a c G a s L o f 8 t L l s t g 5 s . e l 9 1 9 Q -F 1 0 1 *4 ......... 101*4 101*4
107*8
R e f and e x t 1st g 5 s ........1934 A -0 .......... 98
l O l 'a J ’n e ’07
73 H M ilw a u k e e G as L 1st 4 s ..l9 2 7 lM -N
,
91*a Jan ’07
89 . . .
139*4 N Y G E L H * P g 5 s . ..1 9 4 8 J -D ....... 987 99 J ’ ne'07
*
100
P u rch a se m o n e y g 4 s . ..1 9 4 9 F-A .......... 80
79*2 A u g ’07
100
E d E l 111 1st c o n v g 5 s . .19 1 0 M-S ’ ......... 100*8 100 ** A u g ’ o7
1st c o n s o l gold 5a......... 1995 J - J
..........112
113*4 J ’ n e ’06
N Y & Q E 1 L * P l a t c o n g 5 s l 9 3 0 F -A .......... 98*4 95 A p r '07
105 F e b ’07
105 105
N Y * R ic h G as l 8t g o s . 1921 M-N ......... 96
103 N o v ’ OO
61*2 O ct ’01
Pat & P a s G & E c o n g 5 s . 1949 M-S
104*4 N o v ’ 05
80
87
86*2 A p r ’ o7
P eo G as * C 1st c o n g 68.1943 A-O
116*8 J ’ ne’ 07
102*2 106*4 136 102*
2110*4
R e fu n d in g g o ld 5 s ........... 1947 M-S ’ ............... 100
100
100
107*4 D e c ’OO
Ch G -L * C k e la t g a g 5a 1937 J - J
100 J’ l y ’ 07
102 J ’l y ’ 07
i'0‘2 ' i'0 4 "
"
Con G C o o f Ch 1st gn g 5 s . ’ 36 J -D ' 9 9 ” i o o ” 101 i-jM uy’ 07
98 D e c ’ 06
M u F u e l G as 1st gu g os .1 9 4 7 M-N ......... 99*2 100 j ’ n e'07
S y ra cu se L ig h tin g 1st g 5 s .’ 51 J-D ..........104*2
116 *2 M ay’07
115 117
T re n to n G * E l 1st g 5 s . .1 9 4 9 M-S
110 M ay’05
93*q M a r’06
W e s tch e s te r L is lit ’ sr g 5s. 1950 J -D
101 *a F e b ’ 07

101 101*4 101*8 lOl^s
......... 64
63
63
108 Sale 104
114
97 « b ......... 97*8 A u g ’ 07
100 A p r ’ 07

*101 .......

122*4

107*4 111*2

lU I8 l !£ L I A I S £ O l l i <
i » a s anti E l e c t r ic L ig h t
A tla n ta G L C o l s t g 5 s . ..1 9 4 7
B k ly n U G as l a t c o n g oa.1 9 4 5
B u ffalo G as 1st g 5 s ........... 1947
C on sol Oas co n v deb 6a___ 1909
D e tr o it C ity G as g o s ..........1923
D e t G as C o c o n 1st g 5 s . ..1 9 1 8
£ d E l 111 B k n 6'e « K C o E L & P
E d K i l l See N Y G & E L H & P
K q G L N Y l s t c o n g 5 s . .1932
G a s * E l e c B e r g C o c g o s .1 9 4 9
G en E le c tr ic d eb e 3 His.. 1942
1 0 - y r g d e b 5s (su b s o rip ) 1917
f l r R a p G X C o 1st g o s . ..1 9 1 5
j
H u d so n C o G as 1st g 5 s .. 1949
K a n C ity (M o ) Gas 1st g 5 s 1922
K in g s C o E l L * P g 5 8 ... 1937
P u rc h a se m on ey 6 s . . „ . . x 9 9 7
E d El II Bkn l s t c o n g 4 s 1939

i~rxce
Jfriday

August 16 I I ax/ Sal*
Kin
A
8i+\/.otv H
igh.

lxxxv

I

95
7 2 34

I

.....

K OM »
N . Y. ST O C K E X C H A N G E
W kek E ndlvu A tr o u s r 16

R anq‘
Since
J an u ary I

[V o l.

k

Due Aug 0 Due u c t « Dae

I00s»102*2
91*2 91*2
98*2 103*2
79*2 8 4 7t
99 101

“ 5 " *99**
9
116*8119*3
100 103*2
100 106*2
106 *2 108
100 100

101H102
i

Obttou Sui*

A ug. 1 1907.]
7

New York Bond Record— Continued—-Page 3

B O M »
N. Y . STOCK E X C H A N G E
W kkk BjrniNo A u g u st 16

P rice
F'rida\,
A u g u s t 16

L o u is v & N a sh v Ken g 6s . 1930 J-D
G old 5 s ................................. 1937 M-N
U n ified gold 4 s .................1940 J -J
R e g is te r e d ...... ................1940 J -J
S in k fund gold 6« ............. 1910 A-O
C oll tru st gold 5 s ............. 1931 M-N
5 -20-yr col t r d e e d g 4 s . 1923 A- O
E H & N a sh 1st g 6 s . . ..1 9 1 9 J-D
Li Gin & L e x Koid 4 *
28- ..193 1 M-N
N O A M 1st gold 6 s . . ..1 9 3 0 J-J
N O < M 2d s o ld 6s ........1930 J-J
fc
P en sa cola D iv g o ld 6s . ..1 9 2 0 M-S
V
S t L D iv 1st gold 6 a........1921 • i- s
2d gold 3 s . . .....................1980 M-S
A tl K n o x
N or I s t c 5 a l 9 4 0 J-D
H e n d e r B d g e l s t a f g 6s . 1931 M-S
K e n tu o k y C en t c o ld 4 s . . 1987 J -J
L & N < M < M 1st g 4 % s 1945 M-S
fc
fe
L & N -S ou th M )o iiit4 8 .1 9 5 2 J - J
N F la & S 1st g u g 5 s . .. 1937 F A
N & C B d g e g e n gu g 4 S s 194f J -J
P en s < A t l 1st gu g 6 s . .1921 F-A
fc
S < N A la c o n gu g o s .. 1936 F-A
fc
L <fc Jett 110tre Co g u g 4 s .. 1945 M-S
L N A & Oh See 0 X & L
ahon Coal Sec L S & M S
a n h atfan R y co n so l 4 s . 1990 A-O
R e g is te r e d ...................1990' A -0
M etrop ol El 1st g 6s ___ 1908 J -J
M cK ’ pt A B V
See N Y Cent
M etrop olitan E l See M an E y
M ex G ent c o n so l co ld 4 s . .1911 J -J
I t con sol in com e g 3 s .a l9 3 9 J ’ ly
2d co n so l in com e g 3 s ..a l 9 3 9 J ’ ly
E q u ip & c o ll gold 5 s ........1919 A-O
M ex In te r n a t 1st co n g 4 s .1977 M-S
M ex N o rth 1st c o ld 6s ___ 1910 J-D
M ioli G ent See N Y C en t
M id ot N J See lin e
M il L S c& W See G liic & N W
M il & N o rth See Ch M & St P
M in n & St L 1st gold 7 s ..1 9 2 J-D
Io w a E x 1st gold 7 s ........1909 J-D
P a cific Ex 1st gold 6s. ..1 9 2 1 A-O
South W e s t E x 1st g 7 s . 1910 J-D
1st co n so l KOld
........... .1 9 3 4 M-N
1st and refu nd g old 4 s . .1 9 4 9 M-S
Dea M & F t D 1st g u 4 s . .. ’ 35 J-J
M inn & S t L gu See B C li & N
M S t P & S S M c o n g 4 i n t g u ’ 38 J -J
M S S M & A 1st g 4 in t g u 1926 J -J
M inn U n See S t P M &M
M o K an & T e x 1st g 4 s . ..1 9 9 0 J-D
2(1 gold 4 s .......................... yx 990 F-A
1st e x t gold 5 s ...................1944 M-N
1st & refu n d 4 s .................2004 M-S
G en s f 4*28.................... 1936 J - J
S t L D iv 1st r e f < 4 s ___ 2001 A-O
r
D al <b W a 1st gu g 5s. ..1 9 4 0 .Vl-N
K an G cfc P a c 1st g 4 s . ..1 9 9 0 F-A
M o K & hi 1st gu g 5 s ...l9 4 2 i A O
M K & O k 1st g u 5 s ........1942 M-N
M K & T o l T 1st g u g 5 s . 1942 M-S
Slier Sli <fc So 1st iru g 53.1943 J -D
T e x & O kla 1st g u g 5 s . . . 1943 M-S
M o P a cific 1st c o n g 6s ...1 9 2 0 M-N
T r u s t gold 5s sta m p e d .a l9 1 7 M-S
R e g is t e r e d ...................a l9 1 7 M-S
1st coll gold 5 s ...................1920 F-A
40-year irold loan 4 s........1945 M-S
3d 7s e x td at 4 % ............... 1938 M-N
C en t B r R y 1st g u g 4 s , 1919! F-A
J -D
Ceii B ran ch U P I s t g 4 s . l 9 4
L eroy < G V A L 1st g 5s 1926 J - J
fc
P ac R o f M o 1 s t e x g 4 s .1938 F-A
2d e x ten d ed gold 5 s . . .1 9 3 8 J -J
St L Ir M & S g cn c o n g 5 s l9 3 1 A-O
G en con stam p g t d g 5s 1931 A-O
U n ified < r e f gold 4 s . .1 9 2 9 J -J
fc
R iv & G D iv 1st g 4 s . .19 3 3 M-N
V erd i V I & W 1st g 5 s . 1926 M-S
M ob J & K C i s t co n s e 5s. 1953 J -J
M ob < O hio new gold 6s .. 1927 J -D
fe
1st e x te n s io n gold 6 8..A 1927 Q.J
G en eral gold 4 s .................1938 M-S
M on tg om D iv 1st g o s . .1947 F-A
-F
St L & C airo c o ll g 4 s ..« 1 9 3 0
-J
G u aran teed g 4 s ............1931
M < O c o ll 4s Sec Southern
&
M oh aw k & M ai See N Y C & H
M on on gah ela R iv See B < O
fe
M on t C en t See St P M & M
M org a n ’ s La & T See S P Co
M orris & E s sex See D el L<fc W
ash C h a t & S t L 1 s t 7 s . 1913 J - J
1st co n s o l gold 5 s ......... 1923 A-O
J a sp e r B ra n ch 1st g 6s . .19 2 3 J -J
M cM M W<fc A l 1st 6 s ..1917 J -J
T i I s P B ran ch 1st 6s ___ 1917 J - J
N ash F lor < S hef See L & N
fe
N a t o f M ex p rior lie n 4 S 8 -1 9 2 6 J -J
1st c o n s o l 4 s ...................... 1951 A-O
N ew H & D See N Y N H & H
N J J u n e R R See N Y C en t
N e w & C in B d g e See L o u & N
N O & N E p r io r lie n g <js ®1915 A -O
N Y B k ln & M an B c h See L I
N Y C e n t * 11 R iv g 3 S s .l 9 9 7 J - J
R e g is te r e d ...................... 1907 J -J
D eb en g 4 s ........................ 1934 M-N
L a ke S hore c o ll g 8 S s . . . l 9 9 8 F-A
R e g is te r e d ...................... 1998 F-A
M id i C en t c o ll g 3 S s ___ 1998 F-A
R e g is te r e d ...................... 1998 F-A
Beech C reek 1st g u g 4 s . 1936 J - J
R e g is te r e d ...................... 1936 J - J
2d g u g old 5 s .................1936 J - J
B e e c h C r E x t l s t i r 3S8& 1951 A -O

M

N

111
97 V

*94% 94
1 1 1 1*
105 .

93
"8 6 s :

97 H 97 S A u g ’ 07
,
104 A p r ’05
101% 101

Sale
Sale
Sale

7334
16
10

Low
114S
108
96%

Hiqti
117
1173,
101 ’ f.

105S 109
h2»4 98
112 113 ^
121

125%

117 120
2S 72S

80
92
113*2 113 H

J a n ’ 07
M ay’ 07
M ay’ 06

i b l S Sale
79
16
10

Ranije
iHnee
J a n u a ry 1

H ig h
L ew
115 J ’ n e’ 07
108 M ar'07
973b
S 7%
t
101 % J ’ ly ’ 00
107 D»-c ’05
106 % J ’ly ’07
95 A u g ’ 07
11 3 S Mav’ 07
109 M a r’05
1 2 5 7» M ay’07
1 -2 % M ar’ 06
107 % A u g ’ 06
117 M ay’07
72% F e b ’ O?
116 J ’ly M6
H
108 S Jan ’O
95 J ’ n e’ 07
108 J ’ ly ’06
87 >2 A p r ’ Ol l o S M ar’ ll1
112
111
97

107 S .

97%

W eek's
R ange or
Last Sate

112 112
109 * . 1 1 1
4

9 5 S 100%
26 lOO S i0 3 S

SO'-.
19
10

273<
21

90®g J ’l y ’ 01
105 M uy’OO

M a r’07
A p r ’ 07
J a n ’ 07
M ar’ 05
103
A u g ’O
A p r ’ 06

98
102

107
86
96

130
105
118
113*4
03
86
97

J ’ n e’ 07
J ’n e ’07

94%
96
96 . ..
83 H
,
.......... 83% S3
io l
104
101
101
83 A u g ’ 07
82 .......
84 Sale
83S
84 S
84 M ay’07
-------- 85
■103 ........ 104*2 J a n ’07
95 *2 A p r ’07
......... 96
106*2M ay’o7
102
102
103
1 0 3 S Sale 103%
105 A u g ’ 07
103*2 M a>’ 07
116
116 116*4 116
101 . ..
100*4 101*2
1 0 7 *2 E'eb’ Ot
98*4
98*4
86 A u g ’ 07
96 S 97 S 97 *2 M ay’07
89
90 J ’ n e ’ «7
92
92 A p r ’ 07
90
110 M ar’ 05
98
98
101
16** M ar'07
111*8
109 119
l o 9 S A u g ’ 07
t
109 *2 J ’ u e’ O?
83 S Salo
83*2
83 S
i
88
88
.......... 88
107*2 A p r ’06
89 S 98 D ec ’ 06
23*4 M ay’l>7
117
22 D e c ’ 06
83 .
83 A u g ’07
102 S .
1OSS M ay’ 07
92 S A u g ’ 06
101 N o v ’04

130
LOS
118

130
105
118S

103
87

110 V
94

96
102

99
102%

22 94%
2 80
1 100%
81
"V i 83
82
104 S
H5S
!06*a
" 1 102
1 102
i 04
103S
12 115%
27 100%

...

1

9S%
88
105
86
8 « *s
87
104S
95*2
112
107%
106 S
105
107
120
105

_I
_
_

98*4 i ’0 5 "
8tf
90
97 S 98
90
96%
92
92S

5

10134
117*4
114
110*4
88%
92 S

98
116
109 S
109S
80
9 85

...
...
...
1
...

121% 124

...

83
94
108% 108*2

i iO f t O s
N . Y. S T O C K E X C H A N G E
W kkk Exm rro A u g u st 16

P rice
h r io a v
A u g u s t 1 6'

N Y C en t & H R— ( C on tinued 1
Oart <fc A d 1st g u g 4 s . ..198 1 J-D
G o u v & O sw e 1st sm sr 5s 1942 J-D
M oh 6c M ai 1st gu g 4 s . .1991 \1-S
N J J u n o ti an 1st 4 s . ..1 9 8 6 F-A
N Y < H arlem g 3 S S ...2 0 0 0 M-N
fc
N Y & N o rth 1st g 5 s . .. 192 A-O
N Y <fc Pu l s t c o n g u g 4 s 1993 A-O
N o r & M o n t l s t g u g 5 s .1916 A O
Pine C reek r e s sruar 6 s .1932 J-D
R Wife O co n ls t e x t 5 s .A 1 9 2 2 A-O
Osw,e & R 2d gu g 5 s ...« 1 9 1 F-A
R Wxfc O T R 1st gu g 5 s .1918 M-N
R utland l s t c o n a 4 * . 1941 J -J
28.
O s& I.C h am l s t g u 4 s g l9 4 8 J -J
R ut-C anad 1 st g u g 4s. 1949 J -J
St Law
A d ir 1st sr 5 s . 1996 J -J
2d gold «Vs........................199t A-O
Utioa<fc B lk R iv gu g 4 s . 1922 J -J
L a ke S h ore gold 3 S s ___ 1997 J-D
R e g is te r e d ...................1997 J-D
D e b e n tu re g 4 s ............. 1928 M-S
2 5 -y e s r g -is .................. 1931 M-N
K a A<fct* R l s t g u c o a . 1 9 3 8 J -J
M ahon C’ l R R 1st 5 s .. 1934, J -J
P itts.fc L K rie 2d it 5 s .a l9 2 S A-O
P itts M c K & Y 1st gu 6 s .1932 J -J
2d g u ar 6s ........................ 1934 J -J
M c K e e s & B V l s t g 6s 1918 J -J
M ich C en t 1st co n s o l 6s . 1909 M-S
5 s .........................................1931 M-S
R e g is te r e d ...................1931 Q-M
4 s .........................................1940 J -J
R e g is te re d ...................1940 J-J
J L < S 1st g 3 S » ........... 1951 M-S
fe
1st g 8 % s ............................1992 M-N
B a t C & S tu r 1st g u g 3 s. 1989 J -D
N Y Clnc<fc St L 1st g 4 s 1937 A-O
R e g is te r e d ...................... 1937 A-O
W e s t S hore 1st 4s g u . . . 2361 J -J
R e g is t e r e d ...................... 2361 J -J
N Y & G re e n w L a k e See Erie
N Y & H ar See N Y C * H ud
N Y L a ck cfc \Y See D L & W
N Y L E < W See E rie
fc
N Y & L o n g B r See Cent o f N J
N e w Y ork N e w H a v < H art—
fc
H o u sa to n ic R con g 5 s . .1937 M-N
N H & D e rb y co n c y 5 s .l9 1 8 M-N
N V & N o rth See N Y C «fe H
N Y G 4 W r e f l s t g 4 s . ..91992 M-S
R e g is $ 5 ,000 o n ly ..........<71992 M-S
X Y & P u t See N Y C <fc H
N Y & R B See L o n g Island
N Y S i& W See E rie
N Y T e x & M See So P a c Co
N or & S ou th 1st g 5 a ......... 1941 M-N
X o r f & W e s t g e n g 6s ........1931 M-N
I m p r o v e m ’ t & e x t g 6 s ..1934 F-A
N e w R iv e r l s t g 6s ........1932 A-O
N & W R y 1st co n g 4 s . 1996 A-O
R e g is t e r e d ...................... 1996 A-O
D iv ’l l s t l & gen g 4 s . . . 1944 J -J
P o ca h 0 & C Joint 4 s . .1941 J -D
C C & T 1st g u g 5 s ..........1922 J -J
S cio V & N E 1st gu g 4a 1989 M-N
N o rth Illin o is See Cli'i & N W
N o rth O hio See L E r ie & W
N o r Pac— P r io r lion g 4 s . . 1997 Q J
R e g is t e r e d .................... 1997 Q-J
G en eral lien g old 3 s ___ a2047 Q -F
R e g is t e r e d ...................a2047 y -F
fit P a u i-D u l D iv tr 4a___ 1996 J -D
D u l S h o rt L l s t g u 5 s . .1916 M -S
C B < Q c o ll tr 4s See G t X o r
fc
S t P & N P ge n g 6s ___ 1923 F-A
R e g is te r e d c e r titic ’ s .. l 9 2 3 Q-F
St P a u l & D u l 1st o s ___ 1931 F-A
J2d 5 s ................................. 1917 A O
1st co n so l gold 4 s ..........1968 J-D
-M
W a sh C en t 1st g 4 s ..........1948
N o r P a c T e r C o 1st g 6 s . .1 9 3 3
J
N o r R y C al See So P a c
N o r W is See O S t P M & O
N o r & M o n t See N Y C en t
Ind & W See C C C & S t L
k io R i v R R See LSalt & G
O re & Gal See So P ac Go
O re R R & N a v s e e Un P ac
O re S h ort L in e See Un P a c
O sw e g o & R o m e See N Y C
O C F & S t P See G & N W
a c C oast Co 1st g 5a ___ 1946 J -D
a c o f M ia sou ri See M o P a c
Panam a 1st s fund g 4 S s . . l 9 1 7 A -O
P eu u R R 1st rea l eat g 4 s . 1923 M-N
C on sol g o ld 5 s ...................1919 M-S
C on sol g o ld 4 s ...................1943 M-N
C o n v e r tib le g 3 S a ........... 1912 M- N
C o n v e r tib le g 3 S s ........... 1915 J -D
A lle g V a l ge n g u g 4 s . ..1 9 4 2 M-S
D R R Rdfc B g e l s t g u 4 s g . ’36 F-A
P h i l a B a l * W 1st g 4 S ..1 9 4 3 M-N
Sotl B a y <fc So 1st g o s . . .19 2 4 J
S u n * L e w is 1st g 4 s . ..1 9 3 6 J - J
U N J R R & Gan g e n 4 s .1944 M- S
Peuu C o —G uar l s t g 4 S s . 1921 J - J
R e g is te r e d ...................... 1921 J - J
G uar 3 S s c o ll tru s t re g .1 9 3 7 M-S
G uar 3 S s co ll tr ser B ...1 9 4 1 F-A
T r Co c e r t il’ s g u g 3 S 8 .1 9 I 6 M-N
G u S H iS tr c t f s C ...............1942 J -D
G . 3 S s tr c tfs D ...............1944 J -D
G u ar 15-25 y ar g 4 s ___ 1931 A-O
C 1& M ar 1st g u g 4 S s . . l 9 3 o M-N
Cl < P gen g u g 4 S s 8 e r A . ’ 42 J -J
fe
S e rie s B ............................1942 A-O
Series C 3 S s ...................1948 M-N
S eries D 3 S s ...................1950 F -A

.....

82

Sale

114 *v
A u g ’ 07
M ay’ Oi
M a r ’05
J ’l y ’04

114% 118%
1 1 1 S 116
1 1 6 S 116 H
i

89*4 J ’l y ’ 07
82
82

98% 102*4
8 1 S 87 S

89*6 S alt
......... 89 34
94
.........
81 Sale

83 *4
89%
90 J ’ly ’ 07
9 3 3 A u g ’ 07
4
81
84
78 A.ug’07
83
83
83% 84*4 J a n ’ 07
101 102 F e b ’ 07.
102 M ar’ 04

89*4
89 S
93
81
78
80
84%
102

94%
93
99
88 S
87
fc7*4
84*4
102*4

L ow

99 H . . . .
i

R an ge
S ince
J an u ary 1

M iyh

Low

97 S M a r’O
105 O ct '02
101 s -T ’ i v ’oe
1 1 0 S M ay’ 07
101% D e c ’ 06

97S

97S

llO S i V i "

137 I'Jov’9'
1 1 0 S J ’ n e ’ O'
103
103

110*4

H ig h

110*4 114
103 103

106 S O ct ’ 05
94 M ay’07
94 M ay’07
12^ J a i l ’06
92 S ........
......... 93
92
93
90 Sole

1037. A u g ’ 06
H2%
93
9 2 2s M a r ’07
92*4
92).
90
903
,

90«s
92%
91%
8 9 -j

125 S M a r’06
107 S N o v ’ 06
139 J a n ’ 03

120 .
*118 S .
110

.

104
118%
119
100%
106 S
94 S
92 S

D e c ’ 06
J ’ly ’06
J ’ ne’ 06
Jan ’ 07
N o v ’ OO
D e c ’ 06
M ay’ 07

100*4 100%
92%

. 1 0 0 a io b % J ’ly "’ 07
4
11>2 *4 J la r’ o7
100 S Sale 1 0 0 S 101
100 Sale LOO
lOOH

114%

124
98

126

99 S Sale
67% Sale
......... 6 S
.............

119

97%
98
1 0 1 S J ’ n e ’Ot:

9 5 s4

102*4

95

J ’ u e ’ o?
O ct ’ 06
95
F e b ’06
J ’l y ’07
A u g ’07
F e o ’05
93

101%

Sep ’Ot

129
127*4
95
100
88
86
109 S
93

120
129

1 2 3 S 1223*
132
117*,
106S
98 S
........
93
114 113%

130
129

96*8
9 1S
92

99
100
100 J ’l y ’ 07
6 7%
70
70 M ay’ 07
95 3 ja n ’07
4

105% .
105 .
83
109

I0 2 S

lO O S 105
100 103%

F e b ’ Ol

104

Sale

94%

! 00 * 103 S
4

....... . 1 2 6 H J ’ n e’ 07
i

:::::: i w
94
96
......... ..95
......... ..87
85
86
93

96
94
99S
93%

99 *9

99 102%
98 102
07% 74*4
70
71
95*4 D5%

J ’ n e’ 07
J ’l y ’99
J ’ly ’ (>7
M ay’ 07
O ct :o 6
May'Otj
M ay’ 07

120

1 2 2 s4

117*4 117 *
100 S 10S;)
1 13% 11 y •
%

O

P

1 1 4 S 115% 1 1 4 S
H 2S
112S
116 S
117S
113

R id
*96%

We«tf\s
R ange or
Last .sale

103

105

A u g ’ Oi

1 0 2 S 109

104 .
103% .

102% J ’l y ’ 07
103% J ’l y ’07
111*9 Sep ’ 0-1
100 ........ 106 Auir’ Oii
92 *4 Salo
92*4
93
88 *4 Sale
88*4
89 s
99 101
99 J ’ n e ’ oV
95 S .........
107 S O ct ’ Oi.
102 J a n ’ 03

1023 103
4
101 103%
9 0 :H 100%
88% 95
99
99

l l O S S ep ’ 04
. 104*4 103% 103 H
. 103*4 103% J ’ l y ’ 07
9 0 S J ’ n e ’ 06
82% .
84 M ay’ 07
94 .
94 J ’l y ’ o7
82*4 .
89 O ct ’ 06
82% .
9 0 S M a r’ 06
97 S J a n ’ 07
110 J a n ’ 05
108% A u g ’ 03

1 0 3 S 107
101 105%
83
84
93*4 96
97S

97S

78 S

;;o

9 8 % D e c ’05
96 J a n ’04

M 1 8 C E L 1 iN E O U s i B O N D S —C o n tin u e d o n N e x t I’ u k c
C oa l and Iron
C ol F & I C o g e n s t g 5 s .. 1943
C o n v e r tib le d eb g 5 s . ...1 9 1 1
C ol F u el C o gen g o ld 6 s . 1919
G r R iv Coal < G I s t g 6 s l 9 1 9
fc
CJlearf B it Goal l s t s 1 4 « . . . 1940
C ol I n d u lst<fc c o ll os iru .,1 9 3 4
C o n tin ’ ta lC 1 st s f g u 5 s g . l 9 5 2
J e t t * C lear C * I l s t g 5 s .1926
K a n & H C & C i s t s f g 5 s .l9 5 1
P leas V al Goal 1st g s f 5 s .1928
S u n d a y G reen C o g 6 s ___ 1944
T en u Goal gen 5 s ............... 1951
l ’en n D iv 1st g t>s........a l9 1 7
B irin D iv 1st c o n s o l 6s. .1917
Cah C M C o 1st g u g 6s. 1922
D e Bar C & I Co gu g 6s. 1910
V a Iron C o a l * Co 1st g 5 s . 1949
V ic t o r F u e l 1st s f 5a......... 1953

F-A
F-A
M-N
A -O
J-J
F -A
F-A
J-D
J -J
J -J
J -J
J -J
A-O
J -J
J -D
F-A
M-S
J -J

85

53

88

bale
. 106

•«8

102

•97

" i i'

90 J ’ l y ’ 07
87 A p r ’ 07
107% O ct ’04
102% A p r ’ 06
95 A p r ’ 02
52
57%
107% D e c ’ 04
107 M ay’97
105% D e c ’ 06
105 O ot ’ 00
78 F e b ’ 07
88
89 S
100 J ’ne'07
106 J ’ n e 07
102 D e c 'o 3
100 F e b ’ 07
93
93
93 S F eb ’07

88
87

52

100%
87

76%

78
78S
88
95
100 1 0 6 S
1 0 -1 S 1 0 6 S
i 00 i o o "
90
98
93% 93 S

T e le jr r a p h a n d T e le p h o n e
A m T e le p & T e l c o ll tr 4s 1929
C om m C able Co 1st g 4 s . .2 3 9 7
M et T & T 1st s f g o s ........1918
M ic h . S tate T e le p . 1st 5 s . 1924
N Y 4 M J T e l g e n g 5 s . .1 9 2 0
W est U n ion c o l tr c u r 5 s . 1938
F d an d real e s t g 4 S s . . . 1950
M u t U n T e l s fu n d 6 s . . .1911
N o rtliw T e l g u f 4 S s g . .l 9 3 4
U a n u f a c lu r i n g Jk I n d u s tr ia l

J -J
Q-J
M-N
F-A
M-N
J -J
M-N
M-N
J -J

A m C ot O il e x t 4 S s ........... 1915
A m H ide
L 1st s f g 6 s ..1 9 1 9
Arner I c e S e cu r deb g 6 s ..1 9 2 5
A m S p irits M fg 1st g 6 s .,1 9 1 5
Am T h rea d 1st c o l tr 4 s . ..1 9 1 9
A m T o b a c c o 4 0-yr g 6 s ___ 1944
4 s............................................ 1951

Q -F
8 3 % ......... 87% J ’ly ’07
M-S ' .......... 89
88
88 S
6
A-O .......... 75
79 J ’l y ’ 07
M-S 100 ........ 102% A u g ’ 07
80%
86>
J -J ’ ............... 88
2
A-O
97
1 0 1 H 324
88 Sale
F -A
63
66
60 Sale
251

'N o pnoe Friday; la test bid ana askod. »D ne J an £ D ue Feb c D ue Mar < D ue A p r /i Duo J ’ly A D ue A u *
i
:




78% J ’l y ’ 07
96 S J 'n e ’ 06
104 F e b ’ 07
........ 101 % 97 F e b ’07
105 % J ’ly ’ 08
*9 7 " : : : : : : 98 A u g ’ 07
91% S alt
91S
9 l “,
104 A p r ’ 07
103 J ’l y ’ 04

0 D ue o e t p nn<>

j

io 4 ." i ’0'4 "
98
98
6

r

98
01
104

85
86
79
98
86?fi
97
63

103
100%
104

93
91 *4
89
103 S
98
110%
79%

New York Bond Record—Concluded— Page 4

394

P rice
F rid a y
A u g u s t 16

N . Y. S T U C K K X C H A N H E
W eek E ndin g A u g u st 16

W eetcs
R ange or
Last Sale

B ia
Ask L ow
P en n C o —i c o n t in u e d ;
H iah
E r ie < P itts g u g 3 %s B .194 0 J - J
fe
88 ......... 92 A p r ’ 07
S eries 0 ............................ 1940 J -J
9 8 3 A pi ’04
4
G r R < I e x 1st gu e 4 H 1941 J -J
fc
as
‘108 Sep ’ 06
P itts F t W < C 1st 7 s . . .1 9 1 2 J -J
fc
127 «8 O ct ’ Of
119 J ’ n e ’ OP
2(178................................... 1912 J J
3(1 7 s ............................... A1912 A-O
119 A p r ’ 04
11H M ay’ 05
P itts Y& Asli 1st con 5s. 192V M-N
P C C & St L g U 4 % 3 A . . .1 9 4 0 A -O 107 H 108
i
107 > J ’ly ’ 07
4
S eries B g u a r .................1942 A-O 107 ........ 107l4J’ly ’07
112 ^ i iie’og
S eries C g u a r .................194'2 AI-N
S eries D 4 s g u a r ........... 1945 M-N
100 % 100*4 M a r’ 07
S eries E 3% g u a r g ___ 1949 F-A
91 F e b ’ 07
S eries if 4s gu a r . ' ___ 1953 J -D
C St L & P 1st con g o s . 1932 A -O
115 J ’ ne’ 07
P en sa cola & A l l See L & JNasli
P eo & E ast See C C C & 8 t L
123% Jan ’05
P e o < f e k U n l s t g 6s ___ 1921
fe
2u gold 4 %s.......................61921
100-">4 D e c ’ O )
109 A p r ’02
P ere Alarq— tJh<fc W M 5s 1921 J -D
F lin t < P M a 6s ............... 1920 A-O 112*3.
fe
112S 112H
j
i
1003< A p r ’ ()7
1st con sol gold o s ..........1939 M-N
P t H uron D iv 1st g 58.1939 A-O
106 “ Sep ’06
a
Sag T u s < H 1st gu g 4 s . 1931 F-A
fc
P h il B < W See P e n h HK
fc
115% M a r’ 06
P h ila < B ea d in g cou s 7 s .1911 J-D
fc
P itts Cm tfc S t L See P en n Co
P itta C lev e & T o l s e e B < O
fe
P itts Ft W & CU See P enn Co
P itts M c K e e s < Y See N Y Cen
fc
P itts Sh & L E 1st g o s . . .1 9 4 0 A -O
120 M a r’ 06
1st oou sol gold 5 s ............. 1943 J -J
98 J ’i y ’ 97
P itts & W eat s e e B & O
l > eadin g C o gen g 4 s ........1997 J -J
91
94 > 7o
2
93 Sale
I V R e g is te r e d .......................1997 J-J
9 5 3 M ay’ o7
4
J e r s e y C en t coll g 4 s . . .1 9 5 1 A 0
90%
90%
90*2 Sale
R en ssela er < Sar See D & H
fc
R ich < Dan See so u tli R y
fc
R ich < A leck See S outhern
fc
R io G r W es t See D en & R io G r
R o cli < P itts See B R < P
fc
fc
R om e W at & O g See N Y C ent
R u tla n d See > Y C en t
i'ua & H See P e re M arq
80
88
O t J o < «ir lsi 1st g 4 s . . . l 9 4 i
fc
82 y n e ’ 07
St L < C airo See Alob < Ohio
&
fc
St L < Iron A lount See A1 P
fc
S t L K C < N s e e W abash
fc
St L M Br See T R U A o f S t L
8 t L o u is & S an F ra n o isco —
G en eral gold Os................. 1931 J -J 117*4
123% A p r ’ 07
G en eral gold 5 s .................1931 J - J
105 .
106 A u g ’
S t L < S F R R con s g 4 s .. ’ 90 J -J
fc
91 F e b ’ 07
S ou th w D iv 1st g 5 s . . 1947 A -O
102% A u g ’ 05
R e fu n d in g g 4 s .............1951 J -J
7 5 34
7634 3b
76 Sale
98 N o v ’06
5-year gold n otes 4 *3..190." J -D
S t L M & So E a s t g u 4 % g l9 0 9 J -D
K C F t S < Ai cou g 6 s ..1 9 2 8 M-N
fc
116% M ay’ 07
K C F t S <fc M H r ref g 4s 193*5 A-O
79
79%
77
79
K C<fc M Rcfc B 1st g u o s . 1929 A-O
O z’ rk<fc Ch. C 1st « u 5 s g-1913i A -O ......... 99
97 M ay’ 07
St L ou is So See Illin o is C ent
8 t L S W 1st g 48 bd c t fs .1 9 8 9 M-N
90>2
90%
90*2 Sale
2d g 4s in c bond c t J s ...p l9 8 9 J J ......... 77
79%J"’ly ’ 07
C on sol gold 4 s ...................1932 J D -------- 31
71
72
G ra y ’ s P t T e r 1st g u g 6s 1947 J D
101% A p r ’ 07
8 t P aul < Dul See N o r P a cific
&
S t P a u l M < Alan 2d 6 s . ..1 9 0 9 A-O 103 “s ........ 103*b J ’ n e’ 07
fc
1st con sol gold 6s ............. 1933 J J ..........128
130 J ’ n e’ o7
134 D e c '06
R e g is te r e d ...................... 1933* J -J
R ed u ced to gold 4 % s .. 1933 J - J *105 .......... 105% J ’ l y ’ 07
R e g is t e r e d ................ .1 9 3 3 J - J
116% A p r ’ 01
D akota e x t gold 6s ..........1910 M-N 104 .
104 A u g ’ 07
M o n t e x t 1st gold 4 s ___ 1937 J-D
^8 % J ’ly ’ 07
98% .
R e g is te r e d ...................... 1937 J-D
100% O ct ’ 06
E Alinn 1st d i r 1st g 5 s ..1 9 0 8 A-O 101% Sale 101% 101 %
N o r D iv 1st gold 48___ 194 s A-O
M in n U nion 1st g 6 s . . ..1 9 2 2 J -J
124 M ay’ 07
M on t C 1st gu g 8s _____ 193. J J
125 A u g ’ Oi
R e g is t e r e d .......... . . . . . . 1 9 3 7
136% Muy’ 06
1st gu ar g old o s ............1937
115% M ay’07
Wiiidfc S If 1st gold 5 s..l9 3 te
115% D e o ’06
St P < N o r Pa c See N or Pac
fc
8 t P < S’ x C ity See C St P A <fc()
fc
1
14
8 A & A P a ss 1 s t g u g 4 s . . . 1943
80 Sale
80
82
8 Fe P res < Ph 1st g o s . . . 1 9 4 /
fc
102 A u g ’ 07
........... 1 0 2
8 F & N P 1st sin k 1 g 5 s. 1919
110 O ct ’05
S av F < W est See A t l Coast L
fc
S oioto Val &. N E See Nordfc W
Seaboard A ir L in e g 4s . ..1 9 5 0 A O
68 Sale
67%
68
Coll tr refu nd g 3 s ......... 1911 M-N ......... 96 S 96% J ’ n e ’ 07
A ti-B irm 3 0 -y r ls t g 4 s .e l9 3 3 AI-S -------- 81
88 J a n ’ 07
Car C en t 1st con g 4 s . ..1 9 4 9 J J
9 6 % M a r’06
F la Cen < P en 1st g 5 s .1918 J J
fc
107% A u g ’ o 6
1st laud gr e x t g os . ..1 9 3 0 J-J
C on sol gold 5 s............... 1943 J-J
109% M ar’ 06
G a < A la R y 1st co n 5s o 1945 J - J
fc
106 M ar’ 07
G a Car & N o 1st g u g os 1929 J - J
110 J a n ’05
d eab & R oa 1st 5 s............1926 J - J
106 M a r’07
Slier Slir < So See Al K < T
fc
fc
Sil Sp o c a & (3 See A tl Coast L
So Car < « a See S ou th ern
fc
S ou th ern P a ciflo Co—
Wold 4s (C en t P a c ooll).& 194 9
8 7 % .......... 8 6 %
87
R e g is t e r e d ...................&1949
84 J’ n e ’ 07
Cen t P a c 1st r e f g u g 4s 1949 F-A '9 5 » i * 9 6 ^ 94%
94%
R e g is te r e d .......................1949 F-A
94 *4.......... 93*8 J ’n e ’ 07
M ort gu a r gold 3 % 8 ../c l9 2 9 J -D *84 _____ 84
84
T h ro u g h S t L 1st g u 4s ’ 54 A-O .......... 90
9o 3 J’ n e ’ 07
4
Gal H ar & 8 A 1st g 6 8 ..1 9 1 0 F-A
103 Si A p r ’ 07
M e x & P ac 1st g o s ___ 1931 M-N
105 J ’ n e’ o7
G ila VGdfc N 1st g u g 5 s . 1924 M-N
106 ^ J ’ly ’ 06
H ou s K 4 W T 1st g 5 s . 1933 M-N 102 ,
107% F e b ’ 05
1st gu a r 5s r e d ........... 1933 M-N 100%.
104 A u g ’ O
U
H & T C 1st g 5« in t g u ..l 9 3 7 J - J
110 J ’ l y ’ 07
109*8 .
C on sol g 6s in t g u a r ...1 9 1 2 A O
1113* J a n ’ 07
G en sold 4s in t g u a r ..1921 A-O
93
93% J ’ l y ’07
W a c o * N W d iv 1st g 6s ’3o M-N
116 D e c ’06
A < N W 1st gu g 5 s ___ 1941 J -J
fe
109% F e b ’ 06

Lo-w H igh
92
92

107% 109%
10634 109

98 100*
4
91

115

91

116%

3:5

110*4 U S
10 j 3 i o o 34
4

91 98^
95*4 9 o3
4
90 96*
s

90

92%

123 % 123%
105% 110%
91
93
7*5*4 *82%
117 % 119
77
823
4
97

97%

83
77
71

95
83
79

101%101%
103 105*8
130 131
io*5%ib* %
8
104*" i*07%
97*8 100%
iooh ioi%
130 131S
,
112* i*15%
*
80
102

87
108*4

67% 82»,
96% 100%
88
89

106

107*4

108** i*0*6*‘

85
90%
84
88
93 100*8
93% 99
82% 86
90*4 98%
103 105 %
106 106’ <

109% 111%
111 112
91% 94%

l U ls C K L L A M K O llS
iV ln iiiila ctu riiig i t I n d u s tr ia l
B eth S teel 1st e x t s f 5 s .. 1926 J-J
C en t L eath er 20-year g 5s. 1925 A-O
C on sol T o b a c c o 50-yr g 4 s .lS 5 1 F A
D istil S e c C or co n v 1st g 5 s .’ 27 A O
i n t P aper C o 1st con g 68.1 9 1 8 F -A
C on sol c o n v s f g 5 s ........1935 J -J
I n t St P u m p 10-yT oon v . 6s ’ 13( J - J
K n ic k e r Ice (C h ic ) 1st g 5 s . ’ 2S A-O
L a ck a w Steel 1st g 5 s ___ 1923 A O
N at S tarch M Ig C o l at g 6s 1920 M-N
N at s ta r c h Co s I d eb 5 s .. 1925 J -J
R e p u b I < fc S l 8t<fc c o lt r 5 s . 1934 A O
U 3 L.eath C o s t d eb g 6s . . 1913 M-N
U S K e a lty & I c o n v deb g 5 s ’ 24 J - J
U S .-'teel Corp— ( cou p .d 1963 M-N
SI 10-60 y r 6 s. \ r e g ..4 1 9 6 3 M N
Va-C ar Chem col ir os g . .l 9 1 2 A-O
W e s tin g h o u s e E < Al s t o s '31 J J
&

*77**
103
85
97
95
76
86
104
*78
91%
92
......

91%

Weetc't,
R ange or
Last Sale

B io
•119
*112

U

W

K ang*
oin c e
Jan u ary 1

Low
H iah
127
S e p ’ 06
1 16
N o v ’ Ot
112
F eb’n
iOilSg J |y -0
104 A p r ’ O
104% F e b ’07
107
114%
116
104

Low

H ig h

112

112

98 101
111 % 104
3
:04% 104%

A p r’
D e c ’ 04
M av’ n V
M a r’ o

107

107

*** ** i*16*'
1 16
103% i0 4

107 % F e b I
104 Sep ’ 06
8 ^%
y
104
106%
114 N o v ’ OO
82 A u g ’
113 % M ay >7
80
S'
113 Jan *06
96 J ’ ne’ O
92 J ’ ne’ o o

82

85

111

107% 107%

111

89 % Sale
104 Salt

111

1 11

110%
113
110%
67%
113%
16

113%
11734
11 4
69%
119%
118%

S 7 *4

104

F eb ’O

A u g ’ 07
Alay’ 07
A p r ’ t'6
96 u c t ’0.
109%
i09%

114
im

,1 1 6

95
113*4

82
94
113% 116
80
94%

110*8 J'ly’o
110% -113% 115% 113 H 1 i 3 1.
i
1 1 0 -j J’ne’o7
..........IO'.i
67% J’ly’
........... 6 8
I 15*8

95
109% Saic
102 % Sale

109% 113
102% 103

102% lo2s

F e b ’O;
A u g ’ 07
112 O ct 06
108% D ec ’ Oo
113 D e c ’O.
107% Aiay’ o7
107 M ay’ O^
.......... 90% 96% Jan ’ 07
106 .......... 108 % Alay’ 07
98
105

104

106%

106%
107
94*4
108 Si

111
110
96%
109%

117 J ’ l y ’o o
ill
J ’ly ’ 0
1 11 % J ’ u e’07
93 ‘• J an ’ 07
i
111 D e c '06

112*8 112*8

112% ......

108 111
111% 117
93% 94
1 1 1 % 118%

N ov’o6
M ar’ 06
l o 6 % N o v ’04
107*4
108
111 M ay’04
102 M ay’O
91 % M ay’ n7
91
84 A u g ’O^
87
«3 %
83%
85
75
76
78
95 D e c ’Ou
101 ....... . 110 M a r ’o 7
93 Sep ’ 06
*9*y‘ " Sale
99
99%
97 A u g'O i
89
9090%
96
.......... 97
116
116
115 % 117
108% Sale 108% 108%
2
88
87% 8 8 1 87 >
4
87*4 AIai’ i/7
103 “a F e b ’07
105*2 J ’ly ’ 07
.........

92

90

1 02% ......... 110

107*4 111
io ’6 %
90*4
8o
83 Si
73

ib*2 %
97
89
87%
82

110 * 1** **
16
99 102%
97 101%
89
93
95% 99%
116 126
108*4 114
87% 94%
ft 7*4 07*4
103 103%
10o % 105 %

102% F e b ’ 06
98 Sep ’ 06

V

1 0 7 % ........ 110 M ay’ u7
1o.t%
107 Sale io 7
96% 97% 9 7 %
97 Si
90 J ’ n e ’ o7
61 J ’ ly ’ o?
62 J ’ n e ’O
102 M a i’o?
93 Alai 'Oo
54
58
55 % Sal»4
0 8 % J ’ ly 07
............1 0 6 *4
97 JNov’ 04
80
k e b ’ o7
97*4 96% J ’ n e ’o <
I on MayOV
69%
____ _ 69 % 69 %
19
20 Sale
21*4

85 ........
.......... 70
dO Sale
..........106
1 1 2 % ........
8 9 V ........

80
96%
lo o
68%
19

105 A u g ’07
110 D e c '
111 % A u g ’ 05
83 Alay’ o
102% D e c ’ 05

82

____

97

83

84

111%
114
105%
90
76%
75
102

4** *6*7%
107 109

87% J ’l y ’ O /
VO
72%
50
50
106 ^ A u g ’ O
113 % A u g n7
89% J ’ ue’ o7
34 F e b 07

103

106
107
97%
90
67
67%
101

80%
96 %
102
80
32%

87%
82%
68
i 11 Si 116%
»9 % 93%
34
34
i0 5

108

83** '*8*7%

20

82

89

96

103

B O N D S— C o n c lu d e d .

M is c e lla n e o u s
A d a m s E x co l tr g 4 s . . .. . . 1 9 4 8
96 A u g ’ 06
A m S S C o o f W V a g 5 s ___ 1920
89
91
41 89
99
B ’ k l’ n F e r r y C o l s t c o n s g o s ’48
2 64% 79
64%
65
Sale
C h ic J c & S t Y ard co l g 5 s . 1915
76
79
34 76
90
105
fc
101% 101%
2 1 0 1 % 108% Det Al < Al Id g r in c o m e s ..1 9 1 1
87% 92
I n t M ercan M arin e 4 % s ..l9 2 2
86
* 8 A u g ’ 07
100
Hit N a v ig a tio n 1st s f 5 s . 1922
97
97 % " ‘6 97 106
. . . . . . 97 % O ct ’05 . . . . . . . . . . . .
M an Boh u dc, L ge n g 4 s .. 1940
98
96% A u g ’07 . . . . 94% 102* * N ew p N e S h ip & D D o s d l9 9 0
N Y D ock 50-yr 1st g 4 s . . 1951
83% A u g ’ 07
83
84
70
P r o v id e n c e S e c d eb 4 s ___ 1957
70 A p r ’ 07
7o
’. '6
96% J ’ u e’ 07
P ro v id e n t Loan S o o 4 % s .l9 2 1
97
102*4 106*4 St J o s e p h S tk Y d s l s t 4 SiS.1930
108
104 A u g ’ o7
77
80 A u g 07
96
St L T e r C u p p le s S ta t’ n<6- P rop
Sale
91
96 % 1142 91
C o l s t g 4% s 5-20 y e a r ..1917
99*4
Sale
90
94% 11 90
99 Si S Y u ba W a t C o c o n g 6s . . 1923
96
97 %
97 %
2 97
99
Sp V al W a t W o rk s 1st 6s. 1906
Sale
91%
91*4
5 91
97% U S Red & R ef 1st 8 f g 6s. 1931
a D ue Jan

Price
Frirtav
A u g u s t 16

s o u th e rn Pa c Co— (Conti-nixed)
More-an’ s La & T 1st 7 s . 1918 A-O
1st gold 68...................... 1920 J J
N o o f Cai gu a r g 5 s ..........1938 A -O
O re & Cal 1st gu ar g 5 s. 1927 J -J
So P of A r g n l s t g 6 s . . . c l 9 0 9 J -J
1st guar a 6s ............... c l9 1 0 J - J
S o P a cific o f C a l—
I s t g O s s e r ie s E<fc F ...1 9 1 2 A-O
1st gold 6s ...................... 1912 A-O
1st con g u a r g 5 s ..........1937 M-N
S P a c o f N Alex 1st g 6 s ..1911 J -J
S o P a c ‘ oast 1st gu 4s g .1 9 3 7 J -J
T e x & N O S a b D iv ls t g 6 s .l9 1 2 vi-S
Con gold 5 s ........... .........1943 J J
0 P a c R R 1st r e f 4 s ..........1955 J -J
s o u th e r n —1st con g 5 s ___ 1994 J -J
R e g is te r e d ...................... 1994 J - J
M o b < O hio c o ll tr g 4 s . .1 9 3 8 M-S
fc
Alem D iv 1st g 4 % -5 s ... 1996 J -J
S t L o u is d iv 1st g 4 s ___ 1951 J -J
A la Cen K 1st g 6s ..........1918 J -J
A tl < D an v 1st g 4 s ........1948 J J
fc
2d 4 s ................................. 1948 J -J
A tl & Yad 1st g g n ar 4 s .1949 A-O
Col & G re e n v 1st 6s ........1916 J -J
E T V a & G a D iv g 5 s ..1 9 3 0 J -J
C on 1st gold 58............. 1956 M-N
E Ten reor lien g o s ........1938 M-S
G a M id lan d 1st 3 s........... 194 6 A O
Ua Pac Ky 1st g 6s ......... 1922 J -J
K n o x & O hio 1st g 6s . . . 1925 J -J
»iob«fc B ir prior lien g 5s 1945 J -J
A lortgage srold 4 s ......... 1945 J -J
R ich & D an co n g 6s ___ 1915 J -J
D e b o s stam p ed ............. 1927 A-O
R ich < A leck 1st g 4 s . ..194 8, M-N
fc
S o Car & G a 1st g 5 s ___ 1919, M-N
V irg in ia M id ser C 6 s . .. l 9 1 t M-H
S eries D 4 -5 s ................. 1921 M-S
S eries E 5 s...................... 1926 M-S
G eneral 5 s........ .............. 1936 M-N
G uar stam ped...........1 9 3 6 M-N
W O < W 1st c y g u 4 s . . 1924 F-A
fc
W e st N C 1st co n g 6s . .1914 J -J
s & N A la See L <fc N
S p ok Falls < N o r 1 st g 68.1939; J - J
fc
' f 'e r A o f St L 1st g 4 % s ..l9 3 9 A-O
1 1st co n gold 5 s ___ 1894-1944 F-A
G en re fu n d s t g 4 8 .........19 5 3 J -J
St L M B g e T e r gu g 58.1930 A-O
Tex
N O See So P a c Co
Tex<fc P a c 1st gold 5 s ........2000 J-D
2d gold in c 5 b...................?2 0 0 0 Mar
La D iv B L 1st g 5 s ........1931 J J
W M in W cfc N W l s t g u 5 s ’ 30 F -A
T o l & O C 1st g 5 s ............... 1935 J -J
W estern D iv 1st g 5 s ...1 9 3 5 A O
G e n e ra l g o ld 5 s ................. 1935 J-D
K an < AI 1st g u g 4 s ___ 1990 A-O
fc
T ol P < W 1st g o ld 4 s ___ 1917 J J
&
T olS tL < fe W pr lien g 3 % s . 1925 J -J
50-year g old 4 s .................1950 A-O
T o r H am < Butt 1st g 4s./il94t> J -D
fe
lster < D el 1st co n g 5s 1928 J-D
fc
l e t r e fu n d g 4 s ........... 1952 A -O
U n P a c R R < 1 g r g 4s ...1 9 4 7 J -J
fc
R e g is te re d .......................1947 J - J
2 0-y r c o n v 4s (s u b s c r ip ).. ’ 27 J -J
O re R y & N a v c o n g 48.1946 J-D
O re S hort L in e I s t g 6 s . . l 9 2 2 F-A
1st c o n s o l g 5 s ............... 1946 J J
G uar refu n d 4 s ............. 1929 J -D
R e g is t e r e d ............. . ..1 9 2 9 J D
Utah <fc N o r 1st 7 s ..........1908 J - J
G old 5 s ..............................1926 J - J
Uni N J R R & C C o See P a R R
Utah C en tral See R io G r W es
U t a h * N o rth See Un Pacific!
Utica < Black R See N Y Cent
fc
! andaiia co n so l g 4s ... .1 9 5 5 F-A
era Cruz <fcPlst g u 4 % s l9 3 4 J - J
V er Val ln d & W See M o P
V ir g in ia M id See S ou th R y
Va & S o u th w ’ t 1st g u 5 s .200 3 J -J
abash 1st g o ld 5 s ____ 1939 M-N
2d gold o s ............... .1 9 3 9 F-A
D e b e n tu re series A ........1939 J -J
S e rie s B............................ 1939 J - J
C ertificates o f d e p o s it___
1st lien eq u ip 8 fd g o s . . 1921 M-S
1st lien 50 y r g term 4 s . 1954 J J
1st r e f and e x t g 4s ___ 1956 J - J
D et < Ch E x t 1st g 5 s. .1941 J - J
fc
D es M o m D iv 1st g 4 a ..1 9 3 9 J-J
Om D iv 1st g 3 % s ............1941 A-O
T o l < Ch D iv 1st g 4 s . . . 1941 M- S
fc
St Chas B rid ge 1st g 6s . 1908 A-O
W a b P itts T e r m 1st g 4 s . 1954 J-D
2d g o ld 4 s ............................1954 J -D
W a rre n See D el L a c & W e st
W ash C en t See N o r P a c
W ash O & W See Sou th ern
W a sh T e rm l 1st g u 3 %8. . 1945 F -A
W est M arylan d 1st g 4 s . ..1 9 5 2 A-O
G en & c o n v g 4 s ............. 1952 A-O
W Va C en t < P 1st g 6s 1911 J - J
fc
W e st N Y < P a 1st g o s . . 1937 J-J
fc
G en gold 3-48.....................1943 A-O
In c o m e 5 s ........................ d l9 4 3 Nov
W est N o Car See Sou th R y
W h e e l’ g < L E 1st g 5 a ...1 9 2 6 A-O
fc
W h eel D iv 1st g o ld 5 s .. 1928 J - J
E x te n < Im p gold o s . . . 1930 F-A
fc
R t i 1st co n s o l 4 s .............1 9 4 9 M-S
20-year eq u ip s f 5s . ..1 9 2 2 J -J
W ilk e s < East See E rie
te
W il & S io u x F See S t P M < M
fc
W is C e n t 50-yr 1st sren 4s 1940

‘ *8 * T i * *
*9

' N o p rice F riday; la te st bid and ask e d th is w e e t




RON l»>
N. Y. ST O C K E X C H A N G E
W se b E nding A u g u st 16

tiange
Since
Ja n u a ry

tVoL- lxxxy.

b D u e F eb

d D ae A p r

« D u e M ay

M-S
M-N
F-A
J -J
AO
A-O
F -A
M-N
J -J
F-A
M-N
M -S
J -J

67% Sale
_____ • 85

95% A u g ’ 07
l o o j4 J n e '02
41 O ct ’06
101 M ayO ,
70 Sep ’ n6
67 S,
68%
85% J ’ ly ’ 07
00 F e b ’ O'.
8*8 A u g ’l)7
8 6 A u g 07
99 Alay’ 06
1 0 0 % Sep ’ 05

J -I)
J -J
M-S

g D ue J ’ne

101 lol
12

67 * 70%
4
86
85%
87%
84%

112 J ’ l y ’ 04
113% ( ’ ly 'Oo
89 J ’ l y '07
k D u e J ’ly

p Due N or

#O Dtion Sate

CHICJAGrO STOOK EXOKA.TGrE—Stock Record—Daily, Weekly and Yearly
b lO C K H — H l t ) U iJS T A N D L O W E M HA LA P R IC K S
M onday
A u g u s t 12

S a tu rd a y
A u g u s t 10

H ednesU ay
A u iu s t 14-

T uesday
A u gu st 13

•160 170
'3 4
4
*
13 4
23 '• 2 4 4
a
3
*24
164
*50
50 4
•80
82
*22
23
•63
64
•40
45
*22
22 4
•00
60 4
*79
80
• 2 8 4 29
•
96
33
*28

*160 170
•160 170
*155
*34
4
*3 4
*3M
4
*13
* 1 2 4 13 4 * 1 3 4 15
20
20
20
18
23
*2
*2
*2
3
3
16 4 *16
*15
•16
17
*
50 4
50 4 *45
*
*
82
82
•80
23
•22
* . . . . . . 22 l4
2 L*4
*
04
*63
64
*63
*
45
•40
*40
45
21 4 2 1 4 •____
22 4 * 2 1 4
*60
•60
‘ 60
61
68
82
*80
*79
82 4 *79
* 2 8 4 29
* 2 a 4 29
284
*......... 96
*94 4 96
*94
33
*28
33
•28
•28

*5
50
•135
*
*70*4
•1031a
*36
*35
•107
•45

5
49 4
*135

50

125
_____
70
105
*103
*36
37 4 *34
109
•107
60
•48

*1
*1
14
*5><j
6
1 4 3 4 1 4 3 4 •140
30
37
•38
•110 114
110
107*4 107:j4 107
12 7»s 12V 4 126
50
•47
*45

5
60
125
70
105
37
109
50

44
‘ 48
*135

125
70
71
*10.14
*35
*35
37
*107 109
60
*45

*1
14
6
*54
141
140
39
*38
110
108 4
107*, •106
1 2 7 S 125*4
* . . . __
60
41

89
724 724
i
13 2 4 1 12 H 11 L*«
*72
73
*72
•1124116
1124

4S
60

•44
•49
*136
*694

150

170
4
14
22
3
17
60
82
23
61
45
22 4
60S
82
284
90
33

155

L a s t Sal*.
17 4 20
L a s t S a le
*45
L a st
•22
L a st
L a st
•21
*58
L a st
*284
L a st

60
S a le
23
S a if
S a te
22 s
684
S a te
29
s a le

*4
*4 5

4*4
60

4*4
49

l .a s t S a l e
*66
66

126
70

L a st s a le
•85
•107
*48

•I
14
6
•64
141
39
•38
109
107
10/
100
126 4 126
47
*. . . . . .

37
109

L a st s a ie
L a st S a le

1 4 L a st
6
140
137
*38
39
107
108
•105
106
126 4 125
47
* . ........
L a st

S a le
140
39
107*4
106
125 4
40 4
s a It

41

72*4
7 0 4 7 0 s •70
112
1 1 1 4 1 1 1 4 *111
72
72
*72
72 4
•112
112*, •112 116

40
•38
40
•38
•38
90
90
90
89
89
105 105*6 104*4 105
104
•160
•140 150
•142
98
98
99
99
•_____
* 1*4
14
1*4
1**
•14
1 0 4 104
10*8
10*4 11
24 4 £ 4 4 *24
25
•24

T h u rsd a y
A u g u s t 15

40
38
89
89
104 <4 104
147 4 145
99
98 4
1*4
*14
IO*,
10*8
25

7 1 4 •7o
112 s •110
73
•70
115

70s
110*4
73

F r id a y
A u g u st 16

U9 4
J ’l y ’ 0 6
40
*35
38 Sears R o e b u c k c o m . 100
89
*88
89
Uo
p r e f................. 101)
104
103
104
S w ift & C o ..................... 100
150
•141
150 T h e U u aker Oats C o. 100
*9*
99
D o p r e f................. 100
984
1 *4
•14
1 ’4 U n it’d B ox B d & P ColOO
10
It) 4
D o p r e f ................. 100
104
25
•24
100
.VI m in e
*24
J a n ’ 07
10
N o t ’00
16
M ay07
20
L a st s a le 4
N o v ’ o6 H u b b a r u -E llio t t ........

*30
38
89
8 9*4
104 4 1 o 234
14H • .4 1
98 4 •98
*14
14
104
104
•24

P rice
F r id a y
A u g u st 16

Wee/c’ s
R ange or
L a st s a l*
Low

H ig h

A m er B lsou it 6s ................. 19X0 F -A . . . . . .
A m e r S tra w b oa rd l e t 0 s ..1 9 1 1 J - J
Cass A r e < F « (S t L.)—
fe
.......................................... 1912 J -J
—
1014
C lno Board ot T ra d e 4s ...19U 7 J -D
Ohio C on sol B r < M it 6s ............ J - J —
te
..........
Ohio l on not T r a o 4 4 s ........ 1939 J -D
C h ic E d ison —
l>et>ent 6a __________ . .. .1 9 1 3 J-J
99
1 st gold 5 « .......................A1926 A -O
101
O hio A u d itoriu m 1st 6 s . . .1 9 2 9 F -A . . . . . . 98
O hio H ook Co 1st 48........... 1929 A -O
98
O hio N o .''hore Klee Os___ 1912 A -O i i m i
C lu e < M il E le c R y 6s ___ 1919 J - J
&
C liic P n eu ai T o o l—
1st 6s ................................. 01921 J -J
—
79
Ohio H ock I < Pac R R 4 s .2002 M-N
fo
C ollat T r u s t e 6s _______ 1913 M-S
C om m on w ealth E le c t—
6s ........................................ 61943 M -8 100 101
I llin o is T u n n e l 5 s ............. 1928 J -D
K a n s C ity Ry < L t C o 6s . 1913 (Vi-N H i m 9 6 4
fc
K n io k e rb ck er Xoe 1st 6 s . 1928 A -O —
96
L a k e s t r e e t El—
1st 5 s ................................... 1928 J -J
88
89
in c o m e 5s . . . . . . . . . . . . . . . 1 9 2 5 Feb
M etr W a id e E l—
1st 4 s ................................... 19S8 F A
88
884
E x te n sio n g 4s .................19.58 J - J
80
83
N o r a i C liic St 1st 6s ......... 1909 J -J
»0
1st 5 s ................................... 1 9 l6 J -J
R e lu n d in g g 4 4 s ........... 1931 A-O .......... -------N o C h ic C ity R y 4 48 ...1 9 2 7 M-N
N o rtn W eat’ n El—
1st 4 s ............... ... ............... 1 9 H M-S
89 4 90
O gden Was 6s ............. ........ 1945 M-U
890| .........
P ea rs on s -T a ft 6s . . . . „ . . . . i « i « J -D
4-408 ....................
9*6*" i . m i
.V 8
I4-008 S eries E ............... . .
MN
98 . . . . . .
4-80s s e r ie s F ......................
M-N
98 . . . . .
P e o p le s G a s L A C 1st0 8 .1 9 4 3 A-O ------ 1 1 0 4
R e fu n d in g g 5 s ...............1947 M -9
**■
C h ic lia s L t & O 1st 5 8 ..1 9 3 7 J - J
1 6 iK
C o n s u m e rs’ G as 1st o s .. 1936 J -D
100
Aiutual F u el G as 1st o s . 1947 M-N ..........
S ou th s id e E le v 4 4 s ..........1924 J -J
98
S w in<fc Co 1st g 5 s ............1914 J-J
1 0 0 * ,........
U n ion E l (L o o p ) 5 s __ ....1 9 4 6 A O
......... 99
U n ion P a citic oon v 4s . ...1 9 1 1 M-N
U n ited Hox Hoard 6s . . . ...........
7*1 si *7*8*
W e a l C h ic ."t 1st 5 s ............1928 M-N .......... 90
T u n n e l 1st 6s .................... 1909 F-A
D e b e n t 6s .......................... 1914 J-D
C on sol g . i s ..................... II1936 M-N
W e s t D ir City R y 4 4 » . .l 9 3 ^ J -J
W e s t’ rn ton e C o i s ........1909 A -O

90
90
90
91*8
100 > M a i’ O0
9
97 A u g ’ u
98 J ’ ly ’ o7
99 4 Sep ’ 06
11 a H J ’ n e’o7
i
100 A p r ’o7
101 V, A u g ’07
101 A p r '07
103 4 F e b ’ <»6
98 J ’ ly ’07
1014
lo ts
J 9 4 J ’l y ’ ..7
114 N o v ’04
71*,
714
90 May u7
68 4 hep '06
73 J ’n e u 7
73 J ’ n e’ o7
87 D e o ’ 00
96 4 Jan '06

N o t e . —A c c r u e d in te re s t m as t be added to all

C h ie a g o bo

ib o

M ar’ O

101

J T y ’ 07
M ay’ ; 7
A p r '0 4
M » y ’07

100
103
01

100

lo o
j ’i y o 7
96*4 Jan ’00

100

8 7 " F e b ’06
784
784
79 N ov ’04
80 A p r ’04
100 J ’ l y ’ 07
90 D e c V 0
96 *8 j ’ ly ’ 07
95 J ’ n e'o7
J ’ l y ’ 07
M ay’06
Aug*07
A u g '07
D ec ’ 00
A u g '0 0
F e b ’ 0?

Low est

R an ge /or P r e v io v t
Y ear ( 1 9 0 6 )

H igh est

R a il r o a d s
*145
290 150 M a r l 9 205 A p r r
155
C h ic C ity R y ............. UK!
3*4
Ohic & O ak P a rk ___ 1(1(1
14
J ’ ne'07
D a p r e l............... 100
13 Keb 15 16 A p t 6
19
20 C h ica g o S u b w a y ___ 1 (H 4,042 15 M a r l 4 4 6 4 J a n 2
I
J ’l y ’ 07 C lue U n ion T r a c t ... .1 0 0
2 4 May 15
6 4 Apr 3
•34
i8
100
J ’ ly ’ "7
43
20 48 A u glO 65 Jan 16
48
K an s C ity R y & L t . 100
SI
A n g ’ 07
81 J ’ly 29 87 Jan 17
D o p r e f............... 10(1
21*4 M e tro p o l W S E le v . 100
21*4
100 21*4 A u g ! 4 28 Jan 24
64
J ’ l y ’ 07
D o p r e f ............... 100
6 2 4 J ’ ne21 72 Jan 16
46
34 s A p r 1" 47 ' J ’ ly 16
J ’l y ’ 07 N o rth C h ic S t r e e t ... 100
21
310 ‘21 J ’ ne29 25 4 Jan 25
21 S N o rth w e s te r n E le v . 100
68
58
100 58 A p r2 4 66 J ’iy 17
D o p r e f............... 100
SO
75 M a r l4 00 Jan 4
A u g ’ 07 S ou th Side E l e v ........ 100
29
S tr e e ts W S table C L 100
•265 28 M ar25 34 Jan 1if
•284
97
J ’ly ’ 07
95 A p r 3 99 M a y i8
D o p r e t ............... 100
33
J ’ly ’07
100
20 M a r l9 35 A p r 3
H ia c e lla n e o a s
260
7 4 A p ril
•44
4 4 A u g l3
4*4 A m e r ic a n C a n ............ 100
444
434 44*4 A u g l6 60 A p r 10
i>o p r e f .. . - * ... l o o
474
140
101)
133 F e b 21
1 - 3 4 A u g ’ 07
D o p r e f ............... 100
1 2 2 4 M ar28 130 A p r 24
66
406 63 M ar20 ,s0 4 Jan 14
G
A m e r S h ip o ld g .......... 100
103
J ’ly ’07
100
103 J ’ly 18
38
A p r ’07 A m e r S traw B o a rd .
30 Jan 2 4 0 Mai 28
100
lv 8
J ’l y ’ 07
D o u r e f............... 1(M)
106 A p r 20 111 F e b 8
5
J ’ ne'07 Cal & C h ic Canal & D100
50 M a r l3 54 Jan 8
165
100
165 F e b 2 7 165 F e b 2 7
16
1
J ’ l y ’07 C h ic B r e w ’ g & M a it’ g ___
1 Jan 9
1 Jan 9
J ’ly 07
5°B
5 s8 J ’ ly 10
•137
140
132 129 M a r 2 1 149 A p r 3
C h ic E d is o n ............... 100
•35
39
35 3 7 4 A u g iO 51 F eb 8
Ohio P n e u m a tic T o o l. 100
1 0 7 4 110
C h ic T e l e p h o n e ........ 100
109 107 J ’ly 3 134 4 A p r 4
403 1 0 2 4 M a r l6 112 4 M ay] 3
1054
1 0 6 4 C h ic T itle & T r u s t .. 100
126
125
D iam on d M a tc h ........ 100
605 119 4 Jan 24 129 4 May io
40
40
1 Llinois B r ic k ........... 100
100 40 A u g 16 67 M ay 2
314
100
8o
F e b ’ 06
100
20
J ’ n e’ 07
24
.'6 4
J ’ ly ’07
25 F eb 5
•70
71
N a tion a l B is c u it ........ KM)
616 73 4 M ay3 1 80 J an 14
•109
D o p r e f................. 100
60 l l o 4 J ’n e l o 117*4 Jan 7
1104
*72
73
N ation a l C a r b o n ........ 100
200 70 A p r 18 84 4 Jan 11
•110
D o p r e f ................ 100'
26 107 A p r 9 120 Jan 17
1124

Chicago Bond Record
U O M JS
C H IC A G O S T O O K E X C H ’ G E
W kkk E n dino A u gu st IS

R a n ge tor Y ear
1907

Sales
ot the
W eek
Shares

STOCKS
C H IC A G O ST O C K
EXCHANGE

95 38
297 88*4
2,615 101 4
79 133
117 98
955
1
1,695
6
25 2 2 4

Lowest
140

H ighest

.Sep 200

Jan

15 D ec 28'V J an
39*4 J ’ly oi) M aj
4 J ’ly 1 3 4 ’•el)
1 2 4 \ a\
1
54 4 Jan 6S 4 Feb
8 i O ct 9 3 4 Feb
30 J ’ m
25 Oct
72 4 N oi
65 4 O ct
25 M ar 85 Maj
23 4 J ’ly 28 4 F e l
60 M av 68 4 Mai
89 4 A p r 99 J ’ m
27 May 35*4 No\
97 D e c 102 J ’m
23 A p r 60 F e i
6 J ’ ne 1 1 4
51 J ’ly 72
115 Feu 130
128 4 D ec 136
64 Jan 81
17
106
55
1
136
48 4
101
103
L18
41 4

Jan
Jan
N ot
Jan
N oi

F eb 3 i 4 D e «
40
bet
O ct 113 4 J ’m
Fel
May 64
175 Maj
10 4 Fe#
1 M aj
M ar
J ’ly
D ec
Apr
Mai
J ’ ne
Sep

7 9 4 F eb
46 M ay

165
03
139
118
147
71*4

Fell
Fell
Jan
Jan
Feb
Jan

80

F eb

21 J ’ ne 23
62 May 79 4
113 4 Jan 119
78 Jan 95
112 D ec 1 2 2 4

M ai
D eo
O ct
M ai
M ai

50 A u g 63 4 D eo
A u g 6 67 Jan l o
4
A p r 17 95 Jan 26 92 * N ov 99 Sep
M a r l5 1 1 3 4 J a n 10 1 0 1 4 Jan 119 4 Sep
A p r 9 1 7 3 4 M ay 3 LL5 May i 5 2 4 Ja n
A u g lO 1o2*4 Jan Lo 99 4 D ec 106*4 F eb
*4 Dec
2 * Jan
4
Jan 2
2 4 Apr 8
Jan 2 12*4 A p r 8
5 4 D ec 17 4 J a n
J ’n e l2 30 F e b 14 28 D e c 42 M ai

3 2 4 Jan 24

3 2 4 J a n 24

1 6 4 A p r Io

20

J a n 22

44-\ F eb
7^4 J ’ly
3 4 J ’ly

4*8 O ct

Chicago Banks and Trust Comoanies
R ange
lo r y e a r
1907
Low

B ig !

B a n k ers N a tio n a l . . . . .
C alum et N a tio n a l..........
C liica g e C it y ...................
J om m erola l N a tio n a l..
101 102
C on tin en ta l N a tio n a l..
100 100
Cook Co S tate S a v in g s
C orn E x ch a n g e N a t .. .
Dpexel S ta te ...................
55
61
D ro v e r s D ep N a tio n a l
E n g le w o o d S t a l e .........
LOO 100
LOO 101
F ed era l N a tio n a l_____ _
F irst N a t io n a l ...............
F ir s t N a t E n g le w o o d ..
Forem an B roa B ’ k ’ g Co
F o rt D e a rb o rn N a t . . . .
H a m ilto n N a t io n a l___
77
81*s H ib e rn ia n B ’ k’ g A s s ’ n
K aapar s t a t e B a n k ___
u o n r o e N a t io n a l..
M u tu al B a n k ..........
100 102*4 N ai B a n k o t R e p u b lic .
N a tio n a l C it y ..........
98*4 N a tio n a l L iv e S t o c k ...
N o rth A r e S ta te...........
90
N o r m s id e S ta te S a y ..
O akland N a tio n a l___ _
89
93
Prairie N a tio n a l........
P rairie S ta te ...............
9 0 4 R a ilw a y E x o h a n g e ___
85
o u th C h ica g o S a v in gs
S e c u r i t y ......................
■^laie B a n k of C h ica g o .
*U>ck Y ards S a v in g s ..
U iu on B a n k o f C h icago
U n ion S to c k Y ds s ta te
89 4
A m e r T r u s t < S a v g s ..
fc
90
Cen tral T r u s t 0 0 o f 111
C lu oag o Sav B k * T r ..
97
C h ica - o T it le A T rust.
98
C itize n s T r u s t < S a v ..
fc
olon ia i T r u s t & S a v ..
116 4 115 4 D ro v e rs T r u s t & S a v ..
100 102 s F a rw e ll T r u s t C o .......
101 104*. F ir s ; T r u s t < S a v in g s
fc
101
10 2
H arris T r u s t < S a v . .
&
Illin o is T r u s t < S a v ..
fc
bT * i o i "
K en w ood T r < S a v in g s
fe
100
1 0 2 4 L ake V ie w T r & s a v .
96 4 100
M erch an ts’ L'nJfcTr Co
M etro p o lita n T r <6 Sav
75
N orth ern T r u s t C o . . . .
90
N o rth w e st T r & S a v ...
P eop les T r u s t Jfc S a v ..
73
P u llm a n T r u s t & Sav.
78
R oy ai T r u s t C o .............
''to c k m t-n ’s Trdfc S a v ..
U n ion T ru st O o.............
W estern T r u s t * S a v .
p rice s.
W Side T r & Sav B k ..
W o o d la w n Tr<fcSav Bk
i o o " ib o * '

O utstand­ S u rp lu s &
in g
In
Prottts\
Stoclcf
1905

D-ivtaend
in
19u6

R ecord

Per
iou

$2,000,000

#1,249,848
8
8
4 - J J ’ly ’ 07, 2
A n . )ec ’ 00, 6
34,84s!
6
5
10
J - J J ’ly ’0 7 , 5
140,908
10
4 .194,047
12
12
Q-J J ’ly ’07, 3
2,884,120
8
8
y - J J ’ly ’07, a
/ ,474
6
0
Q-J J ’ly ’0 7 , 1 4
13
12
4,565,591
y -J J ’ ly ’ 07, 8
3 8 ,7 8 3
0
6
y -J J ’ly ’0 7 , 1 4
y - j J’ ly ’07. 2
344 .077
8
8
3
Q -J J’ly ’ 07, 1 4
33,539
200,000
500.000
7 ,,9 3 5 B eg an b u sin ess o c t 16, 1906
12
12
8,000,000 7,056,676
y - j J ’ly ’07, 9
150,690
10
10+10 y - j J ’ly '0 7 , 2 4
100.000
0 36 .078
P r iv ate Ba uk
5 00 .000
3 91 ,681
0
1 ,000,000
6
y -J J ’ly ’07, 2
187 ,400
F -A J ’ly ’ 0 7 , 2 4
500.000
y - j J ’ly ’07, 2
io
1.500.000 1,111,362
100,297
200.000
6 2 ,0 0 o
-F A u g -07, 1
30i»,000
"S’
J an. J a n ’ 07, 4 4
81,243
260 ,000
y -J J ’ly ’07, 2
2,000,000 1,178,604
0
'* 6
1.500.000
361 ,939
b u s in ess f eu 6, 1907
1,000,000 1,32 7,639 1 2 + 3 12 +
y - J J ’ly ’07, 3
200 ,0.;0
62,719 Began busin ess Dec 8, 1906
5 0.000
5,215
y -J J ’l y ’07, 1 4
0
6
100,000
84.3 25
W-J J ’l y ’0 7 , 1 4
6
6
67,836
2 50.000
95,383
8
C500.000
1138 y -J J ’ly ’0 7 , 2<s
14,586 B e g a n bu sin es» J u iy 3, 1906
2 50.000
71,046
4
y - j J ’ly ’0 7 . 1 4
200.000
5
300.000
88,2 7 8 O rga n ized o c t 12, 1906
1 ,000,000 1,068,513
8
y - j J’iy ’0 7 , 3
8
165,373 N » n e
2 50.000
35,917 Began M ay 1, 190 5.
200.000
63,030 N o n e
y - j J ’ly ’ 07, 1»«
200,000
6
3.000.000 2,560,839
8
8
y-J J ’ly ’07. 2
y -j
990 ,474
2.000.000
iy ’0 7 . 1%
7
64
n 9 7 ,2 6 o
n 500,000
Q^r J ’ n e ’ 07, 1 4
6 ,000,000 * 1 ,2 2 0 ,3 1 3 “ e
6,198
60.000
638,791 5 '+ 5
600,000
y - j J’l y " ’07,* 2 4
10
0
94 .706
y - j J ’ly ’07, 1 4
200,000
0
17,6-sO O rg a n ized A p r 3 1907
1.600.000
2 ,000,000
9 3 9 ,6 )8
253 ,257 B e g a n bu sin ess Feb 4,'1907™
1, 260,000
4,600 000 7,900,299 12 + 4 1 2 + 4
J ’ly ’07. 4
200,000
Q-J J ’ly ’ 07, 1 4
35,437
27,74
Q-J J ’ly ’ 07, 1
200,000
J J ’ ly ’ 07, 3
3.000.000 4,8 0 5 ,2 8 8
12
12
3 36 ,110
J
750.000
6
6
q -': J ’ ly ’0 7 . 1 4
1,500,0(H) 1,345,084
8
y -J J ’ly ’0 7 . 2
8
40.003 O rga n iz e d J ’ly 28, 1906
80 0 .0 0 0
5 4,938
200,000
fce o o .o o o
8
1 7 2 ,5 1 4 " i i
Q-J J ’ ly ’ 07,'*2 “
636,429
y-F
8
• ’ 07, 2
600 ,000
6
5,300 In cor p orate d M a ic a , 1906
2 00 ,000
1.000.000
999 ,948
1.000.0(H)
291,671 " 0
6 + 1 Q-J J ’ly
27,862 B egan bueiu ees **ep
200,000
0
2 00 .000
26,743
Q -J J ’ ly ’ 07, 1 4

100,000
500.000
o 3.0 0 0 ,0 0 0
4.000.000
5 0.000
8.000.000
200.000
6 00 .000

| D ivid en d s are paid Q -J, w ith ex tra paym ents Q -F. T In clu d es apecia! d iv id e n d o t S0% paid D ec. 18, 1806.
|
* Bid and asked pne.oa; n o sales w ere
m ade on in is day.
t N o p rice Friday; latest, prii e this w eek. . i> i« >®o. 31. a D ae Ju n e,
c C apital in c re a s e d Jan . 1 . 19o7 fro m $ 2 5 0 ,0 0 0 , a cash d iv id e n d
of .0 per c e n t b e in g d eclared and to be taken as part paym en t for new stook .
b D m eJ u iy .
k C apital in cre a se d fro m ^ 300,000, a gtook d iv id e n d o t 8 3 i«
p o. b ein g d ecla re d in p a ri paym eu t tlierefor.
n Capita, and s u rp lu s to be In creased.
o O apital in ereaaed fr o m $ 2 ,0 0 0 ,0 0 0 a n d * 8 ,0 0 0 ,0 0 0 a d d e d
su rp lu s,
t M ay iO , lo r N a u o u a l B anks, and M ay 21, ’o7 fo r S tate in stitu tio n s. * A a o f J u ly 1 ,1 0 0 7 .




BOSTON STOCK EXQH&NXxE—Stock Record, Daily, Weekly and Yearly
S h a r e P r i c e s — N ot P e r C e n tn in P r i c e s
S a tu rd a y
A u g u s t 10

M ono ay
A u gu st 12

lu e s a a u
A u g u s t 13

We d n esd a v
A u g u s t 14

T h u rsd a y
A u gu st i o

F r id a y
A u g u s t 16

STOCKS
BO STO N STOCK
EXCHANGE

S a le 4
0/ tht
W eek
Share

R a n g e to r Y ear
1907
L ow est

H ig h es t

R an ge lor J-revw u
Y e a r (1 9 0 6 )
Low est

H ig h es t

K a ilr o a d s
fc
85 3
4
84%
84% 85
*8234 83% *84% 84 S
37c S 358 M a rl- 1 0 7 % J a n 7 86% J ’ly 110% Sep
S4
8 5 34 A t c h T o p < San ta FelOC
86
86%
Do p r e f............... 101
12 89 A u g l I 1013s Jan t *97 78 Det 105% Jan
89
89
*90
92
*90
90% ♦90 >
4
91
91
91
*90*2 92
B o s to n < A l b a n y ... .IOC
fc
221% 222
237 213 j ’ ly t 240 F e b 7 239 Dec 257% Fell
222 222
222 222
222 222
222
222
222 222
•
lot
B o s to n E le v a te d ___
132 132
40 130 A u g lt 152 Jan 2 147
133
133 133 S 133 133
130
Aug 160 Jan
133% 134
130
B o s to n < L o w e ll___ I0(
fc
*213 215
216
215 215
•213
U 200 J ’n e l i 231 Jan 7 230 D ec 246 % A p i
*21212215
‘ 212 215
215
•
152 M a rl- 170 M ay
180 D ec 180% A p i
160
159 159
158% 158 S 159%
169 160
159 S B o s to n <ft M a in e ___ MX
*160
__ •159
D o p r e f ............... -10(
16934 1 5 9 3
4
l i 153 M ay < 165 J a n i 164 O ct 175% Ma]
*159 160
160
*15S 160
£ a:294% J’ ne2: 301 F e b 2 5 -9 9 % D e c
300 301
301 301
*300
*300
800
8
J ’l y ’ 07 B o s t S u b u r o a n E l C o s . ..
’
8 J ’l y 1 15 E eb 16 13 N o i
50
65 Jan 15
19 S
19% 20
19%
675 19% A u g lo 283 J an 2 25 Jan 39 S2 A p i
4
20
20
*13
19% *18% 1914 *18
i9% B o sto n & W o r E le c C o s ..
♦
* .......... 70
70
70
21 68 J ’ly 25*
70
70
70
68
•
«
*
fc
L a s t S a l e 140
140 *
139
140
138
J ’l y ’ 07 C h ic J u n c R y < U S T 1 0 0
139 J ’ly 11 160 J a n 17 156 O ct 182 Jan
110
D o p r e f............... I0<
110 A p r 8
112
117% J ’ ly 127 Jan
10(
184 *4
184% A p r 25 188 B e b 13 1873 N ov 190 Mai
’
4
152
152 J ’ly 17 156 M ar 11
250 250
*247% 260
50 250 A u g 12 280 Jan 8 2S5 Oct 298 A p i
*257 % 260
260 C o n n e c tic u t R iverr.. 100
*2 4 7 H
i
*1 ‘2 ‘ ir, 125
A
MX
123 ■> 123 > 123 123% •123
*
1
*123
*123
12i 120 J ’n e l5
132 O ct
*
•
*___
83
80
L a s t S a l e 82
675 J ’ n e 1 114 M ar22 95 o a n 107 A p i
83
83
A u g ’ 07 &a R y at E l e c t r ic ... 100
*
C a s t S a l e 83
82 M ay29 88 M ar 7 « 9 D ec 95 Jan
*80
*80
83
83
A u g ’ 07
D o p r e f . .. .. ........ .100
83
83
*80
193 J ’ ne25
J ’ly ’ 07 M ain e C e n tr a l........... MX
197 M ai
12% 12% *12%
15
12
12
12% 12% *12% 14
M ass E le c t r ic C o s . .. .100
445 12 A u g 12 20% J a n 9 17 Jan 23 J ’n(
*14
442 52 A u g i o 71 % J an 9 59% Jan 75 J’ n«
54
52
53
62%
D o p r e f ............... MX
65
53
54
54
63% 53 S
52%
*54
193, M ar 9 2 5 34 J a n 2 2 1 ^ Aup 2 8 1 Dec
*17%
L a s t So le i&%
*17
*17
M a r’ 07 M e x ica n C e n tr a l___ MX
*19
4
160
724 16934 J ’ u e l .5 190% J a n 2 190 J ’ly 207 *4 Jan
•163 163
1 6 / 162
160 162
160 160
160 N Y N H & H a r t ... 100
164 164
152
MX
152 M ay2i 160 Jan 8
222
228 J ’ly 233% Mai
*
202 187 Si J ’ ly 15 200% Jan 7 198 D ec 210 Jan
*..........187
188 188
190 O ld C o lo n y ................. lfi<
190
188 188
•186% 189
5 J ’ly 31 52 Jan 16 53 Sep 53 % O ct
•8 % ___
1
8
8
•8 %
*8 ___ _
P e r e M a r q u e tte ........ MX
*8
*8 S .........
MX
3 3 3 A u g t; 67 Jan 18 50 Jan
4
33\
*30
36
35
•33% 36*2 *33
•
26 J ’ n e 5 45 J a n 24
40
40
'40
10<
40
•35
40
*33
J ’ly ’ 07
*34
•
■
*
82 A u g 7 94 Jan 21 65 Jan
85
L a st S a le 8 2
85
85
85
A u g ’ 07 S eattle E le o t r io ........ 100
i*9 O ct
*
•
•
97
95
95
95
97
97
96
50 94 J ’ ne20 103 Jan 7 95 Jan 106 Feb
97
D o p r e f ............... i 0 <
96
123% 127
U n ion P a c if ic ........... 10< 3,383 122% A u g l4 1 8 2 % J a n 7 139% May 195 Sep
i
12634 129
1 2 4 7a 1253s 1243a 128 S 1 2 2 % 128% 124% 125
h a s t S a le
KX
*81% 83
8 2 78 J ’ly 27 93 J a n 15
*76
78
9 9 3 Jan
4
•81% 83
150% J ’ ly 22 170 J a n 30 170 Sep
L a s t S a l e 150H J ’l y ’ 07
io n
87
87
88
*87
87%
87
*86
87
W e s t E n d S t .............
50
88
88
87
85 84 J ’n e l9 95 Jan 25 92 D ec 101 Jan
*87
......... 101 101S •101
•101
*101
*101
do
p r e f............... 5<;
19 99 J ’ne28 110 M ar 4 107 Sep 116% A d i
♦101
L a s t S a l e 147
147 J a n 15 147 J a n 15 150 F eb 150% Feb
J an ’ 07
101
M is c e l la n e o u s
19
21 J ’ly
*17
19
18
325
100
80
78
80
80
80
82
95 F e b 7 90 D e c
82
141
80
4% A u g l4 143, Jan 8 10% D e c 29 Mai
43,
5
5
4%
0
4%
4%
4%
5
5
4% A m e r P h e u S e r v ___
50 1,508
5
J2
12
13
12
15
14
14
13
D o p r e f............... 50
13
14
12
403 12 A u g 15 33 J an 8 26 A u g 46 A p r
109 110
1 1 1 % 112 A m e r S u g a r R e f i n .. . 100 5 ,60ft 109 A u g lo 137% F e b 11 128 May 156% J an
111 11 2 78 1103a 11234 110 113
113 114
118 118 S 118 119
118
D o p r e f............... 100
118 118
357 118 A u g 13 131% Jan lo 130 Dec 141 Jan
118*4
119 121
118% 120
1043. 106
107
103% 105
104 105
1033
4,104S 104% 105
A m e r T e le p & T e le s :.100 2,974 10334 A u g 12 134% J an 2 128 J ’ly 144% Jan
105
24
22
23
*22
23
24
291 22 A u g 14 36% J a n 7 28 N ot 47% J an
*2 2 % 23Si
22 S»
23 A m e r W o o le n ............. 100
2 2 % 23
87
89%
87 *9
85% 8 V
85
86
912 85 A u g 13 1 0 2 % J a n 8 100% D ec 110% Feb
87
85
87
jjo p r e f ............... 100
89% 90
4 J a u 15
334 Jan
4
L a s t S a l e 3%
3 M ar28
*3%
*3%
4
*3%
4
4
10
M ay’ 07 B o sto n L a n d .............
4 %J’m
4
103
102
102
*102 103
102 102
*102 103
103 C u m b e r lT e le p <fc T e l 100
•1 0 2 %
71 102 A u g 12 115 J a n 10 115 J ’ ly 1183 Mai
................
«
*
19
.....
19
D om in ion I r o n < S t
fc
130 16 3 M a i i 6 25 F e b 19 2 1 3 N ov 34 A p i
19% 19% *18% 20
18% 18%
»
5°8 Jan 10 Aua
8
6 % A u g 13
9 % J an 3
6 % •.........
* .........
7 *
*.
8
7 E a st B o s to n L a n d ___
8
6%
100
209 209
209 209
209 209
209
209 209
209
E d iso n E le c I l i u m . .. 100
126 200 A p r l i 230 J a n 7 225 D ec 250 Jan
•208 210
....
1^9% 130
126 % 129
G e n e ra l E le c t r ic ........ 100
127*8 12938 128 % 12» %
408 126% A u g 13 162 Jan 2-, 157 D ec 184 O ct
131 131
52
54
50 % 61
54
51% 5 3 S
51% 52
61
54 M ass’chusettsG asC oslO O 4,405 50 Si A u g 16 66^8 J an i v 44 May 64% j ’ne
54
82
82
82%
82%
83
82
82
82
81% 82
82%
do
p r e f................. 100
146 80 M ar 2 6 8 6 % A p r 20 84 S D ec 90 Sep
83
*207
206
208% 209
207 207
. . . . . . 207 207
206
M e rg e n tlia le r L in o .. 100
46 199 Jan 2 215 M ar 1 190 Mai 210 D ec
•208 209
2 J ’ ne 3
2
4 34 J an 19
2%
3 Jan
53 s e p
4
2 M e x ica n T e le p h o n e .. 10
2%
2%
*1 %
35
*1 7
8
2%
*1 %
*1 7S 2 %
* 1 78
*
•
*
*
70
70
L a s t S a l e 70
46 J ’n e 3 75 J ’ly 29 27 Mai
70
70
100
«
*
•_
•___
_
•.......... 87
87
87
87
88
87
97
D o p r e f ................. 100
15 84 M ay29 90 J a n 12 80 Mai 9 0 S Nov
1 II) *109
110
*109
109 109
108
109
*108
to o
67 108 A u g 6 126 J a n 7 L26 D ec
*109
157 158
159
1&9 P u llm a n C o ................... 100
j,
159 160
158 169
158 159
373 156 M ar 16 182 J a n 7 180 D ec 2 6 s ‘• _\o t
161 162
10
9
10
*9%
9% Jan
10
10
9 34
9\
R e e c e B u tto n -H o le .. 10
* 9 78 1 0 %
* 9 7a 10
275 £E % A p r 5 11 J a n lo
11 D eo
10
104% 104% 104 104
103 104
4
103% 104 S w ift & C o ................... 100
468 103 A u g I 5 113 J a n 16 1013 J ’ne 120 s e p
105 105% 104% 105
*20
21
21
21
2L
*'.20
21
*20
*20
20
20 T o rr in g to n Class A . . ?fi
40 20 J ’n e l3 2 2 % Ja n lw 22 % Dec 23
t’eb
*20
L a s t S a l t 8 ?%
2 4 7 M ay 8 27% J ’ly 26 25 J ’ ly 27% X ov
a
J ’ly ’07
*26
*26 . . . . . . . *26D o p r e f ................. 25
*26
1 1 Aug 2
4
67g Jan 24
L a s t S a le i%
2
2
2
2
2 J ’ ne
A u g ’ 07 U n io n Cop L ’ d & M g . 25
*1 %
5 D eo
* 1%
*1 %
* 1%
1073 109
4
i o ;> % in
109 n o
108% 108% U n ite d F r u it ............... M" 2. 1H6 10b34 M a r l i 113 A p r2 5 103% May 11334 ila y
109 J 10
110 110
41
40
40%
s
40% 40%
42
43%
40% 42 %
41% U n S h oe M a c h C o r p . 25 3,765 40 A u g 15 69 Jan 2 X60 S D e c 8 6 ‘8 F e b
45 S
44
*
2 4 7a 25
26
26
27
26
25%
26%
26
26
D o p r e f ................. 25
858 2 4 7e A u g 15 29 Jan 4 28 % Dec 32% J ’ ly
26
32%
29% 31%
31% U S S te e l C o r p ............ MX) 22,642 29% A u g lo oOSgJan 7 32% J ’ly oO % O ct
30
31%
30% 32%
30
30
<
31% 32 S
91
933j,
95
95 >
2 94% 95%
9 2 ’% 93%
92%
97
94
D o p r e f ................. 100 4,486 91 A u g lo l o 7 34J.iin 7 99 J ’ ne 113% F eb
96
y J an x i
5%
0%
17 *i j an
5
6
*5%
6
*5%
6
0
*5 ■a 6
■
w e s t r e ie p * T e i e e . i o o
105
*5%
*
*
.s67% J ’ly 19 82 J a n 17 79 N o* 98 sj Jan
70
70
70
70
L a s t S a l e 6'7%
J ’ ly ’ 07
*
D o p r e f ................. 100
7 1% A p r ‘22 78% J a n lb
7 3 3 Oct
4
L a s t S a l e 72“s
J ’ ly ’ 07 W e s tin g E l & M fg . . no
86 fc’eb
76 M ay 6 80 F e b 2 e
76 N ov
L a s t S a l e 76
M ay’ 07
50
M in in g
2 J ’n e 5
01.J F e b 20
3
3
•2 %
4% D ec
3
3
*2 %
3
* 2%
3
3 A d v e n tu r e C o n ............ 25
315
8 % O ct
*2 %
2*4
•
35
35%
40
35
35
35
35
32
34% •34
36
470 32 A u g lo 74% J an 14 3LSJ J ’ly 5 5 ‘4 D eo
25
70 3 74
4
70% 74%
74%
65% 70%
76%
67
71 A m a lg a m a ted CopperlOO 72,069 6 6 % A u g lS 121 Jan 5 9 2% J ’ly 118 F e b
74
673s
29%
30% *28% 29
28%
29
30
•28
fc
2 8 % A m Z in c L ea d < Sm . 2 ft 1,105 29 A u g l3 53 J a n 2*
8 5s Aug II45 UeO
29% 30 S
4
57 % May 74 B
45
46
4
’eb
45 % 4 6 3
45
49%
443s 45%
433
4
45 S A n a c o n d a ...................... 26
49
247 433 A u g 16 75 F e b ib
46%
43
4
4 % J ’ n e 4 153g J a n 16
2 % J ’iy
15% N ov
4%
4 7g
5
4
4%
5
4%
4%
4%
4*4 A r c a d i a n ...................... 26 2,055
05 1,965
2 8 % M ay t
15 16 %
18
16
15
16
16%
15% 15%
16%
17
«
3 A p r lb
4
1
1
1
1
2 Jan 7
J ’l y ’ O
rf
?5
*Sj
*%
*%
34
•
*%
1 ijj J an » •90 Sep
*%
1
1
1
1
% May29
J ’l y ’ 07
34
*%
9 % A u g 15 22 F e b 2 s
103 May- 2 8 m J an
4
11
11
10
10
9%
9%
11
10
1 0 % A t i a n u o ........................ 25
800
•11
11%
9%
7
7
12% Apr 4
7
6%
6%
6%
7%
6%
6%
13,263
9 3 A u g 14 37 J a n 14 26 J ’ly 49 % F e b
4
1 0 % 12
11%
13
y% 1 1 %
10
11
10%
10
1 1 % B in gh a m C on Muufc S 50 7,140
12
*
*__
•44
•40 J ’ly 13 •80 J a n 17 •45 May •90 O ct
•44 •
L a s t S a l e ■40
•44
•45
J ’l y ’ 07 B o n a n z a (D e v C o ) . .. 10
20 3g 2 0 3
23
VI %
21
18
19 Si
19%
4
20
B ostonC onC < fcG (rcts) S,1 4,804 18 A u g i 5 33 % J an 5 2 0 °8 M ai 35 % O ct
22
lS% 2 0 %
20
20
B u tte C o a li t io n .......... 15 22,8»7 17% A u g I 5 0 9% J a n 1 25 J ’iy 42 O ct
20 S
19
19
1734
18% 19%
17 Si 18%
18%
19=8
8 107 J ’ iy 184 D ec
146 160
154
A r i z ......... 10 3,078 143 A u g :* 193
143 144
143
147 149
148
150 C a iu m et
153 155
mo
740 750
C a lu m et < H e c la ___ 25
fc
739
739 740
725 735
730
734
750 750
128 726 A u g 15 1000 l e b i o 675 May 900 O eo
2 1 3 22
4
22
22%
21
l a % A u g io 47 F e b 1*5 17 % J ’iy 40 % D ec
22
22
22%
19 7 2034
8
22
22 C e n t e n n ia l................... 26 1,012
•40
•40
*•39
•40
••39
•40
*•38
•38
•40
-40
■40
710 •35 M ar 2 6 •52 J an 19 "35 D ec •70 J an
•40 C on s M e r cu r G o ld ...
1
67
66
70
65
62%
71%
62% 67%
60% 63
70
643s C o p p e r R a n g e C o n ColOO 19,597 60% A u g i 5 105 Jan 14 66% F ly 86 % J an
1334
4
1 3 78 13%
14
14
14
14
13 %
14
64o 133 A u # 13 20 % J an 23 14 M ar 2 1 % i\ov
14
1 3 34
14 D a ly - W e s t ................... 20
45
45
D o m in io n C oa l............ 100
60 45 A u g l 3 7 0 % M ar 2 61 % Oct 84 F eb
105 105
10 105 A u g 12 114 J an 12 113 Nov 122 M ar
100
418 J a n lo
* is 4
1 % A u g 14
2
2
1% J ’ly
3 % D eo
* 1%
1%
*1%
13
4
600
1%
1%
1%
1%
1 % E lm R iv e r ..................... 12
y S A u g i5 2y % M a r 1 14 % May 26% Sep
<
10
9% 10
11
10
10% 1 1
10
10*4
11
11%
10 F r a n k lin .................
25 1,322
ICO A u g 16 151 F e b a 131 D e c 140 D eo
110
115 115
110
100 108
•100
108 108
120 120
98
G ra n b y C on solidated. 100
13
1 2 % 13%
11% 12%
1 2 % 133g
14%
14
14%
25 900 11% A u g t 5 17*8 A p r is
12%
11 78
5% J a n 11
2 3 A u g 16
4
7 % Jan
4 si Jan
4
260
3
2 % G u a n a ju a to C o n s o i..
5
2 34
14
14
14
15
1 6% J’ly 293s Jan
14
14%
16% 15*4
14
13% 13%
14% I s le R o y a ie (C o p p e r ). 25 2,039 13 % A u g 16 36% J a n l i
11
10 A u g 10 30 F e b 8
10
10
10%
10
10%
10
10%
4 % j ’n e 3
9% Jan 10
6%
63*
5
6 % J ’ ly 12% J an
*5
4%
4%
*4*4
785
5
5
*5%
5 M ass C o n s o l................. 26
5*4
•50 A p r 5
•76
134 J a n 24 •40 J ’ ne
1 % Jan
♦•50
-75
•■50
L a s t S a l e ■55
•75
*•60
•75
*•50
A u g ’ 07 M a y flo w e r ..................... 26
13 N ot 14% D ec
9Si
10
9
9
9%
10
»%
9%
x8 %
8=4
9 M e x ic o C ons M & S . 10 3,125 £ 8 % A u g lo 15 S J an 24
9S
12
12%
13
1 1 % 12 4
12
12
12
U 34 U %
11%
l i % M ic h ig a n ...................... 25 1,705 11 *4 A u g 13 24% J a n 15 1034 J ’ne 22 si D ec
67
6;
70
66%
M o h a w k ........................ 26 3,533 04 A u g i s 96 u Jan 14 54 % Mar 85 D ec
70
65
67
67%
64
66 %
70
67
134 Jan i s
3 % M ay 7
1% D ec
2%
7% Feb
*2 %
2
2
*2 %
2
2
- 21s
2 M o n ta n a C o n s o lC * C Id 1,750
11 Jan 23% O ct
11%
1 0 % 1 0 % •10
*12
12%
1 1 % 11 “
11
11
4
1 0 % N e v a d a C o n so lid a te d
6 1,030 1 0 % A u g l^ 2o % J a n l o
11%
62% 66 Si
61% 66 S
61%
61% 66
60
62%
69% 71
64% N o rth B u t t e ................. 15 22,813 60 A u g ia 12o J a n 6 7 4 34 M ai 117% Oot
1 M ai 14
2 % J a n 4 •70 J ’ly
100
2 % D eo
1
1
1% ♦
1% •
1%
1 S •..........
1 % O ld C o lo n y ................... 25
31
2 93 31 Si
4
283
4
33%
36
28% 3 0 34
35
27% 2H3
4
30 O ld D o m in io n ............. 25 15,323 27% A u g is 63 F e b i 4 33 J ’ly 66% o c t
110 110
U ee
tl5
104 1 0 ,'% 106
L07
115
100 100 S 101
i
105 O s c e o l a .......................... 25 1,933 100 A u g ift 181 F e b 21 93 M ai l o l
4
12% A u g 15 35 J a n 14 2 23 J ’ly 48 J a n
14
15%
14%
14% 10
16
12% 14
P a rr o t iSilv<fe C op p) 10 3,188
16
15
IB S
16
1 Jan 5 } 3 J a n 2 o •60 May
*1
1
350
1
Deo
1
1
1 •
*1
1 Ph oen ix C o n s o l............ 26
l1
.
1*4
1%
97
ug 13 148 F e b 6 80 J ’ly i l 4
Jan
94 100
94
25 3,134 90
.00
90
96
LO
O
91
94
100
96
4
3% J ’ly
3 34 A u g lo 1123 Jan i o
4
4
4
9 % Deo
4
4
3»*
4
4
4
R h ode I s la n d ............... 26 1,490
4
4
4
7 U J an 8
j
2 A u g 16
2%
2%
1 % J ’ly
2%
5 :% N ov
2%
2%
2%
2*4
2%
2
2%
2 % Santa F e ( G o id & Cop) 10 2,000
2*4
1 2 % 13 *
5% Jan
13
18% X o v
1 2 % 13*8
10 10,325 12% A u g i j 2 4 % J a n 17
4
12 3 13%
4
12 % 123
4
13% 13%
13 S
7a
82
79
80
26
79
6 4 ’? 75 A u g 15 170 Jan 14 90 j ’ ue i 22 j an
84
83
86
•80
75
80
80
4
15% 17
1534 1 6 ^
16
7% J ’ ne 2 o ‘3 D e c
25 7,3 9 q 14% M ar26 42 * J a n 24
1 6 3 1 6S
4
15
16%
17
17%
16%
7 7 1 M ar 7 57% May 78 F eb
4
57% 67%
58% *53
56
o 3 34
55
55
56
54 Si U nited C o p p e r ............ MX) 1,170 53 M a l i
81
81
8U
8o34
Do
p r e f............... 100
81% 85
720 67 M a r io 9 ; M ay 1 88 Jan 111 F eb
817e 8 1 78
y A u g 10 13 S Jan 22
9% Sep 14% M ar
9%
9
9%
9%
9%
9
9S
9%
9%
9 34
9% Q n it S tates Coal dfcOU 25 2,340
8%
41
39
39
38%
40%
3534 38
41
39
40%
41
39 S U S S m elt R e f.& M in . 50 8,640 35% A u g lo 70 J an 2 51 Mar 6 6 J an
39%
39 L
y
40
D o p r e t ................. 50 5 ,7 2 1 38 A u g 12 49 J an 7 43 Mai 47 •« Sep
33
39
41 %
39
38% 40
40
3 9 '4
40%
38
41
38
40%
36 %
38% 4 0 3
4
5 8,922 3 b% A u g i 6 79 Jan 14 52 % j ’ ne 69% J an
41% 42
3 8 3 39
4
3 8 1 U tah C o n s o lid a te d ...
4
6 Si A u g 1a 11*8 l* eb 2 7
y% Mar
5% N ot
534 ' 6
6
6%
5%
5%
26 1,530
6
5%
HS
53
4
6%
1 M ay21
3% M ar b •60 Jan
2 % D ec
5
J’ly ’07
5 A u g 9 14 Jan 23
4 J ’ ly 13% Oes
5
5
5 Si
5
5%
5
5%
25 1,035
5
5
5
5*4
245 144 A u g 10 198 F e b 11 131 Jan 190 D eo
145
.50
145
147
143
142
25
150
145
144 144
149
144
2% Dee
715 •90 A u g 14
J an 22 •70 J ’ly
I
1
1
1
25
•90
-90
1
•90
1
1
*%
* 76

e B efore

p ay’to fa sse ss’ts called in 1907 .




*B id aud asked prioes.

It N ew stock, f A aa’ t paid. * E x-righ ts.

a JSx-div.

& righ ts,

b

f ix sto ck dividend.

A

ug

397

Boston Bond Record.

. 17 1907. j

B O M te
B O ST O N S T O C K E X C H ’ G E
W e e k M s»nra A u g u st 16
Am B ell T e le p h o n e 4 s ___ 1908
A m T e le p < T e l c o ll t r 4s. 193!)
fe
A m W r it P a per 1st s f e s g l 9 1 9
A tell * N e b ra s k a 1st 7 s . .19 0 8
A ten T on & S F e g e n g 4 s . . 1995
A d lu s tw e R t g 4 s ___ J ’ ly 1995
S t a m p e d .................J ’ly 1995
B oston E le c t L ig h t 1st Os. 1908
C on sol J s ............................1924
Boston * L o w e ll 4 s ........... 1916
B oston dfc M ain e 4 *
2*......... 1944
B oston T erm in a l 1st 3*28.1947
Bur * M o ftlv ex 6 s ............1918
N o n -e x e m p t 6 s .................1918
S in k in g fn n d 4 s ............... 1910
B u t t e * B oston 1st 6 s___ 1917
Cedar R ap & M o R 1st 7 s . 1916
2<1 7 s ..................................... 1909
C en t V erm t 1st g 4 » . .M a y l 9 2 0
0 B & Q Io w a D iv 1st 5 s. 1919
Iow a D iv 1st 4 s ............... 1919
D eb en tu re 6 s .................... 1913
D en ver E x te n 4 s ............. 1922
N ebraska E x te n 4 s ........1927
B * S W e t 4 s ...................1921
Illin o is D iv 3*28............... 1949
J o in t bonds See ( it N o rth e rn
O hic j c R y * Stic Y d s 6s .19 1 5
C oll tru s t r e fu n d in g g 4 s l9 4 0
Ch M il & S t P D u b D 6 s .. 1920
Ch M * 8 t P W ls V d iv 6 s l9 2 0
C h icdt N o M ien 1st gu 5s. 1931
C h ic * W M ich g e n o s ___ 1921
Con Cor it & M o n t c o n s 4 s . .1 9 2 0
C on n & Pass R 1st g 4 s . ..1 9 4 3
C u rrent R iv e r 1st 5 s ......... 1927
D et G r R a p * W 1st 4 s . . . 1946
D om inion C oal 1st 8 f 5 s . .1 9 4 0
F itch b u rg 5 s .........................1908
4 s ......................................... 1915
4 s .......................................... 1927
Freni t E lk & M o V 1st 6 s .. 1933
U n stam p ed 1st Os........... 1933
Q t N o i C B & Q c o il tr 4 s 1921
R e g is te r e d 4 s .....................1921

W eek's
R ange or
Last Hale

P r ic e
F r id a y
A u g u s t 16
J -J
J -J
J -J
M-S
A-O
N ov
M-N
MS
M-S
J -J
J -J
F-A
J -J
J -J
J -J
A -0
M-N
J-D
Q -F
A-O
A-O
M-N
F-A
M-N
M-S
J -J

R ange
Since
Jan u ary 1
Low H ig h
96*4 98%
79
90*4
1182 1J83

B ia
A s k Im w
U ta h
97% Sale
97*4
98
81% Sale
81*2
82
TT«2 J ’ n e’ 07
104 M a r’06
9 7% A u g ’O'
96*4
U S7»*M ay’ «7
87 %
85% J ’n e ’07

Illin o is Steel d eben o s ___ 1910
N o n -c o n v e v td e b e n 6 s . ..1 9 1 3
l a F a ils A S icm x C i s t 7 s . .19 1 7
K an C C lin & Spr 1st 5 s .. .1 9 2 5
96*4 U<H% K an C F t 8 & » H l f 1st 7 a .. 1908
K an C F t S co tt < M 6 s . ...1 9 2 8
fc
H87% 82
8 5 % 91% K an C M & B s e n 4 s ........... 1984
A s s e n te d in co m e 5 s ........1934
K an C & M R y * B r 1st 5 s l9 2 9
M ain e C e s t co n s 1st 7 s . ..1 9 1 2
C on s 1st 4 s ........................ 1912
M ara H o u g h * O a t 1st 68.1926
105% 107 % M e x ica n C en tral eo n s 4 s . .1911
I s t c o n s m e 3 s ........... Jan 1939
2d onus in o 3 s ........... Jan 1939
M ich T e le p 1st 5 s .................1917
M in n e G en E le c c o n g 6s 1929
N e w E n g C ot y a r n 5 s___ 1929
N e w E n g T e ie p h 6 s ............1908
5 s ...........................................1915
5 s ............................................1916
98% 100*,
1100**1100% N e w E n g la n d c o n s g 5 s ... 1945
B oston T e r m 1st 4 s ........1939
97 % 9 9 “,
N Y N K & H c o n d eb 3 **sl 956
97 *» * 97*2 Old C o lo n y gold 4 s ............. 1924
9 0 % 91*i O reg R y * N a v co n g 4 s .. 1946
G reg 8 h L in e 1st g 6 s ........1922
100 102*2 R e p u b V a lle y 1st a f 6 s . ..1 9 1 9
R u tlan d 1st co n g e n 4*28.1941
94*2 96
R u tland -C anadian 1st 4s 1949
S av annah E le c 1st o o n s 5 s .l 952
Seattle E le c l e t g 5 s ..........1930
97 *2 100
T e r r e H a u te E le c g 5 s ___ 1929
100 *2 102
T o r r in g to n 1st g 5 s ........... 1918
99
99
U n io n P a c R R & 1 g r g 4 s . 1947
1st lie n c o n v 4 s .................1911
U n ite o F r u it c o n v g e n 5 s . 1911
89
90
U S Steel C orp 10-60 y r 5s . 1963
93 100
W est E n d S tre e t R y 4 s ___ 1915
98
98
G o ld 4*28..............................1914
G o la d e b e n tu re 4 s ............1916
G o ld 4 s ................................. 1917
W e s te rn T e ie p h & T e l 5 s . 1932
88*4 97 J W is c o n s in C en t 1st g e n 4 s l9 4 9
4
W isconsin. V a lle y lsu 7 s .. 1909
9 0 7s 96

110
F e b ’ 04
101 S e p ’ 06
114 M Ar’o e
112*2 J a n ’03
108s4 J ’l y ’ 07
102 Sep ’06
9*3* O ct ’06
100 J ’ ne’ 01
123*4 N o v ’ 06
111 H J ’ iy ’05
s
83 A u g ’ 07
109 M ay’05
9934 J ’n e ’07
1100% M ay’ l<7
97% J'iie’07
102% J 'n e '0 6
S7 *8 M ay’ 07
90 *s M ay’07
101 J ’l y ’ 07
95 F e b ’ 0 7
122 A p r ’ 06
126 F o b '05
9
97 * » 9 8 '•j 97 > J ’ ly ’ 07
■
100** J ’ly ’07
......... 100
99 M a r’ 07
112>* j » . n ’ 03
104 N o v ’ 06
89 M a r’07
93 A u g ’07
98 A p r ’07
103 *8 A pi ’ 05
100 M ay’ 07
13434 N o v ’ 06
140 A p r ’ 05
89*4 90 H
91*v 9**4
92 A u g ’ 07
89*2

J -J
A-O
J -J
J -J
M-N
J-D
J-D
A -0
A-O
A -0
M-N
M-N
M-S
M-S
A-O
A-O
J -J
(i-J

M O M I>
B O STON STOCK K X C H ’GK
W e e k E x d in o A u g u s t 16

.....

N o r n — B u yer pays a c c r u e d in te re s t in a d d itio n to th e purch ase p rice fo r all B o sto n B on ds.

tr ic e
F r id a y
A u g u s t 16
Hi>t
A sti
97
98
97% Sale

J -J
A-O
A -O
A-O
J-D
M-N
M -S
M-S
A -O
A-O
A-O
A -0
J -J
J ’ly
J -J
F-A
A-O
A -0
A-O
J -J
A-O
J -J
F-A
J-D
F-A
J -J
J -J
J -J
J -J
F-A
J-J
M-S
J .J
M-N
M-S
M-N
F-A
M -S
M-N
F-A
J -J
J -J
J -J

R a n ge
s in c e

iVeoJc's
lia n g e or
/MSt s o
L out

H

January 1

hr.* jn<jh.
98 u * 8 *2
i ’
97% 10U3
4

1u n

98*9 J ’l y ’ < 7
>
97%
»7%
12 -’ Si Nov'O*1
98 ISIay’ 07
100 '* J ’ ly ’ 07
115
115
94 *2 D e c ’ 0'1
92 M ar’ 07
9.; M av’ 1 7
,1
l l » % N o v ’ 06
101*4 Sep ’ er­
n e
M ay’04
1181*2 J ’ ly M7
26*2 O ct ’ 06
1734 A u g ’ 05

1*8" 98 *4
100*4,1(10*8
114
120
92
99

78*4 85*2

102*2 A n s ’ 04
95
96
100 M a r ’ 07
100% Jan ’ 07

95 100*8
!!9*2 t o o
i 00 *8 100*8

96*2
96 S
101*2 S ep ’ 06
1il0278 Jan ’ 05
1121*6 M ar’ 06
102 A u g ’ 07
107 *2 N o v ’ 05
102 M a i’ 02
0 8 % M a y ’ 06
101 * 101*2 J ’l y ’07
.,
97 A p r ’ O?
99*2 N o v ’ 06
99% J ’l y ’ 07
1150*6 A p r ’06
110*2 A u g ’07
119534 J ’ l y ’ 07
100 *2 J an ’ 07
1013 A p r ’ 07
4
102 % J an '06
99 *1 M ay’ 07
<
88*2 S9*s 89*4 A u g ’07
1)94 *2 Sep ’ 05
109 % A u g ’ 05

" N o p rice F r id a y ; la te st bid and asked.

92
101

96 *2 106a
4

101 *2 105
97
97
1 0 0 % ’ ! 102
107
94

1 123
4
1199 \

100*2 100*2

101 \ 102

’ 99*5 i b o ’^
89
99

U F la t price.

Philadelphia and Baltimore Stock Exchanges— Stock .Record, Daily, Weekly, Yearly
S lm r e P r ic e s — N ot P e r Centalm P r i c e s
S a tu rd a y
A u g u s t 10

M onday
A u g u s t 12

88

83*2

T u esd a y
A u g u s t 13

*87 *2 89

ffe e tn s e e U it

A u g u s t 14:

88 % 88%

88

113 J.17
4
8

'1 1*«

*10
12%
48*4 48*4
30*4...31*2
S3
4...9
......... ...5

12*4 12*4
48

48

30

31 *
>

8 H ie

8%

>1 1 %

12 <
4

48
48
28 l4 3 0 34
8% 8 7
s
4
4

14

43
29*4

48
303
4

*6
79
54

bs,
So *2
55^2

S7 87
e
8

A C T IV E S T O C K S

88
l l* a

48
29 4
8*4

48
31
83
4

ao‘ ” 26"
•6
80
56a
«

7*2
81*2
58

6 7e
7
80
81
64*2 66*2

5 9 3 5713io
4
39*2 39*2 39
*7161 8 : 71*16
6
18
18%
17
44.16ie 46 s 4 3 aie
*39*2 4 0 > *39
2
*38
40
*37
57
57%
57
84%
8 0 % 87%
59ii8

68%
39
7«1 8
17°8
4 5 14
41
39
57
86

p h i i . a u i <l p h i a
:

I n a c t iv e .S to ck s
A lle g h e n y V al p r e l___ 51!
A m e rica n C em en t........50
A m e r P ip e M fg ......... 100
B e ll T e le p h o n e ............. 50
C a m bria I r o n .................50
C en tral Coal & C o k e . 100
C on sol T r a c o f N J .. . 1 0 0
D iam on d S ta te S t e e l.. 10
P r e f e r r e d .....................10
E a ston C on E le c t r ic 6.50
E le c S tora g e B a tt___ 100
P r e fe r r e d ...................100
F t W a y n e & W V ........100
G erm a n tow n P a s s ........50
In d ia n a p olis S t ........... 100
In d ia n a U n ion T r ___ 100
I n su r a n c e Co o f N A . . 10
In te r Sm P o w & Chem .50
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d .................... 50
K oysto n e W a tch C a s e .1 0 0
L it B r o t h e r s ...................10
L ittle S c h u y lk ill............50
M in eh lll & S ch u y l H ..5 0
N H a v e n Iro n & S t e e l.5
N o rth e r n C e n tr a l......... 50
N o rth P e n n s y lv a n ia ..5 0
P e n n s y lv a n ia S a lt ........50
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ...................100
P h ila Co (P itts ) p r e f ., . 50
P h il G erm an d N o rr is . 50
fc
P h ila T r a c tio n ...............50
R a ilw a y s G e n e r a l........10
S u sq u eh Ir o n & S te e l. 5
T id e w a te r s t e e l ........... 10
P r e f e r r e d .....................10
T on op a h M in in g o f N e v l
U n io n T r o f I n d ......... 100
U n ited N J R R < C ..1 0 0
fc
U n it T r a c P itts p r e f .. 50
W a r w ic k Ir o n < s t e e l. 10
&
W e s t J e r s e y & S e a S h .5 0
W estm orela u d C oal_ 50
_
W ilk e s G as & E l e c . .100

.........

79*4

54*4
1
58
•38*2
73
4
1 6 's

6*2

80

5 5 34
1
5»
41
7 76
17%

435 461J8
8
40^,
......
37

*3 y3
4
56
81*4
B id

56 *»
85*8
A sk

67% 59
39
41
: % 7 i6ie
16% 17*2
43 4 5 ii16
*40
41
56*2
84*« 8 6 3
4

6

80*2
55*2

57#tS 5S7ie
39
39
7% 7%
16*4 17
42*18 45

•40

41

36*2 36*2
5 5 T 56
i
83% S 5 s

P H IL A D E L P H IA

48
30*4
8 78
•4
•19
6
80

54*2

1
68
39*4
71«18
16%
43%

•40

36*2
56
84%
•25
B id

f E x -rig h t* .

P h ila d e lp h ia
48
A m erica n R a ilw a y s ___ 50
31** C am bria S t e e l ................. 50
8 l* i6 E le c t r ic Co o f A m e r ic a 10
6 G e n A s p h a lt tr c t l s ___ 100
21
D o p re f tr c t f e ___ 100
6 Lake S u p e rio r C o r p ___ 10U
8 0 \ L e h igh C & N a v t r c tls . 50
56*2 L e h igh V a lle y ................. 50
M arsden C o ...................... 100
I
58*4 P e n n s y lv a n ia R R .......... 60
39*2 P h ila d e lp ’a C o (P it t a b ) . 60
Ph iladelph ia E le c tr ic * . 26
8
17*4 Ph ila R a p id T r a n s it $ .. 50
46*2 R e a d in g ............................ 50
D o 1st p r e f............. 60
40*4
D o 2 d p i e f ............... 50
36 *2
56
U n ion T r a c t o n ............... 50
85 3 U n ited G as I m p t ............ 50
4
W e lsb a ch C o ...................100
29
A sk

102

83*2
60*2

96*2

96*4
95 '
99
08*2

g f 7.&0 paid,

P H IL A D E L P H IA

B onds
A n a c o s tia & P o t 5 s ............
A tl <& Ch 1st 7 ...1 9 0 7 J-J
A t la n C L R R 4 s l9 5 2 M -S
A t l C oast L (C t)c tfs 5s J-D
C tfs o f ln d e b t 4 s ___ J-J
5-20 y r 4s 1 9 2 5 ..........J J
B a lt C P a s s 1 st 5s ’ 11 M -N
B a lt F u n d g 6 s .l9 1 6 M - N
E x c h a n g e 3 *os 1930 J-J
B a l t * P 1 s t 6 s m l ’ 11 A -O
B a lt T r a c 1st 5 s . . ’ 29 M -N
N o B a lt D iv 5s 1942 J-D
C e n t’ l l ly co n 3 s l9 3 2 M -N
E x t * Im p 5 s . 1932 M -S
Chas C ity R y l s t 5 s ’ 23 J-J
* $10 paxd.

33 *2 Jan 1
35 J a n 9
80 May 2 9 85 Jan 10
86 M ar 14 97 J a n 26
13 J ’ly 8 23 *4 J an 7
28 J ’ne27 48 Jan 7
10 *2 M a r l2 15 J ’ne27

398
'6 0 0
105
,921
,812
30U
50
626
,331
,560
135
,493
231
,376
,287
,664
700
,312
,082

R ange to r P rev iou s
Year ( 1 9 0 6 )
Lowest

H ig h est

48 J ’ly 30 51 J a n 2
28*4 A u g 13 4 7 * i J an 24
8 H ie A u g U ; 11% Jan 14
4 M ay It
8 J an 25
19 M ay21 36 J a n 25
5 7s A u g l5 16 J an 8
78 M a r l 4 103 J a n 7
6 23 A u g 15 78% J a n 5
4
2 *2 J an 7
1316 J ’ly 26
578ie A u g l5 7 0 n l e Jan 8
39 A u g 12 48 J an 4
7% M ar 14
y Apr 4
15i* M ar27 $26*6 M ay 6
42« le A u g If, 69% Jan 7
40 Mat 24 4 5 % J a n 14
36*a A u g 15 47 Jan 14
53 M ar 14 60% J a n 22
80 *i M a r] 4 96*8 Jan 5
25 M ay2 4 30 F e b 18

B id

P h < R e a d 2d 5s ’ 3 3 .A - 0
fe
C on M 7s 1 9 1 1 ........J-D
C on M 6s g 1 9 1 1 ___ J-D
E x I m p M 4s g ’ 4 7 .A -O
T
T e rm in a l 5s g 1 9 4 1 .Q -F
P W < B c o l tr 4s ’ 2 1 . J-J
fc
P o r tla n d R y 1st 5s 11*30.
R o ch Ry<fc L co n 5s ’ 64J-J
U T r a c I n d g e n 5 s’ 19. J-J
U n R y s T r c t fs 4 s ’ 49J<feJ
U n ite d R y s I n v 1st c o ll tr
B ib s 1 9 2 6 .................M -N
U T r a c P it g e n 5s ’ 97 J-J
W e ls b a c h s f 5a 1 9 3 0 .J-D
W lk s -B G & E co n 5 s ’5 5 J J
B A L T IM O R E
I n a c t iv e S t o c k s
A la C on s C oai& Ir o n .1 0 0
P r e f ..............................100
A tla n ta & C h arlotte. .1 0 0
A tla n C oa st L in e R R . 100
A tla n Coast L (C o n n ) 100
C a nton C o .....................100
C on s C o t D u ck C o rp . ..5 0
P r e f e r r e d .................... 50
G e o rg ia 8ou<£> F l a . .. 100
1st p r e f ...................... 100
2d p r e f ........................ 100
G -B -S B r e w in g ........... 100

t $15 paid.

R a n ge to r Year
1H07

Sales
ol tfu
W eek
Shares.

B a lt i m o r e
Con. G as E l. L . & P o w .1 0 0
D o p r e l.....................100
88
88
N o rth e rn C e n t r a l ......... 50
S eaboard ( n e w ) ............... 100
•12
13
D o 2d p r e f ............. 100
•25
30
11*4 11*4 U n ited R y & E le c t r ic .. 50

R on ds
A l V a l E e x t 7s 191 0 A-O
37
A l t & L V E le c 4 *2S’ 3 3 .F -A
A m R y s c o n v S s 1 9 1 1 . J-D
97
50 ^ 61*2 A tl C ity la t 5s g ’ 1 9 .M -N
45
Balia T e r 1st 5s 1 9 2 6 .J -D
Berg<feEBrw 1st 6s’ 21 J-J
B e th le S teel 6s 1 9 9 8 .Q -F
C h o c & M e 1st 5s 1949 J-J
Ch O k & G g e n 5 s ’ 19 J-J 101*2
C ol St R y 1st c o n 5s 1932
46
47
C on T r a c o f N J 1st 5 s .’ 33
E & A 1st M 5s 1920 M -N
E le c < P e o T r stk tr c tfs
fc
93*2
Eq II G as-L 1st g 5s 1928 105
H dfc B T o p c o n 58 ’ 25 A -O
In d ia n a p o lis R y 4 s . 1933
21
I n t e r s ta te 4s 1943 ..F - A
60
L e h ig h N a v 4*28 ’ 1 4 .Q J
6
R R s 4s g ........1 9 1 4 .Q -F
G en M 4*28 g . 1 9 2 4 .Q -F
L eh V C 1st 5s g ’3 3 . .J -J
16"
L eh V e x t 4s l a t 1 94 8. J -D
2d 7s 1 9 1 0 .................M -S
C o n s o le s 19 2 3 ........J -D
A n n u ity 6a............... J-D
G e n c o n s 4s 2 0 0 3 .M -N
L e h V T ra n c o n 4s ’35J-D
N e w C on Gas 5s 1948 J -D
N e w a r k P a ss c o n 5s 1930
95
N Y P h < N o 1st 4a ’ 39 J J
fe
In c o m e 4s 1 9 3 9 ...M - N
N o O liio T ra c co n 5 e ’ 19.J J
93 *» P e n n g e n 6s r 1 9 1 0 .. V a r
93
C on sol 5s r 1 9 1 9 .. .V a r
P e n n < M d S teel co n 6s.
fc
P a & N Y Can 5s ’ 3 9 .A-O
C on 4s 1 93 9............. A -O
11S, 1 1 4 P e n n Steel 1st 5a ’ 17 M -N
P e o p le 's T r tr c e r ts 4s ’ 43
P C o lst<fe c o l tr 5s’ 49 M -S 100 >,
s
45 3
4
C o n * 001 tr 5a 1951 M -N
98
7»i P h il E lec g o ld tru s t ctfa .
T ru s t c e r tifs 4 s ...............
52
53
68
P dfc E gep M 5 g ’ 2 0 . A-O
G en M 4a g 1 9 2 0 ..A & 0

* B id and asked p r ice s ; n o sales on th is day.




57
»

79
523
4

( l o r B o n d s a n d In a c tiv e
Stocks see b elo w )

tr id a y
A u g u st 16

T h u rsd a y
A u g u s t 15

A sk

108

35 *2 D ec 41 J ’ ne
80 O ct 90 J’ ne
97 J ’ ly 1 1 ; *4 D e c
22 D ec 32 J a n
48
Dec 62 *2 J an
13 D e c 19 Jan
50 !4 Sep
30% Jan
11 May
6 N ov
31 D ec
14*2 N ov
100 l ie c
65 May
l^ia O ct
61% J ’ly
47 A p r
6*8 D ec
019*4 D ec
oO 1 May
*
4 3% A p r
44 ;8 .May
58*8 Dec
1)81 *2 May
25 D ec

98

74*2
70

80
80
325 360
87
90
8
28
20
90
70
3%
4*2
100

100*2

91
100
75
75
101
107
94*2
102
108
110
105

” 9 2 ''

100

i * 3 5 paid,

80
80
102
109
95*2
109
114
108

C o l * G r n v I s t 6 s .l 9 1 6 J-J
C on sol G as 6s. ..1 9 1 0 J-D
5 s ........................ 1939 J-D
G a * A l a l s t o o n 5s ’ 46J -J
G a C a r & N l s t 5 s g ’ 29 J J
G e o r g ia P 1 s t 6 s . . . ’ 22 J J
G aSo & F la 1st 5s 1 945J-J
G -B -S B r e w 3-4s 1951M -S
2d in co m e 5s 1951 M -N
K n o x v T r a c 1st 5s ’ 2 8 A -0
L a k e R E l 1st g u 5 s ’42M -S
M em ph is S t 1st 5 s ’ 45 J -J
M e t S t (W a s li)ls t 5 s ’ 2 5 F A
M t V e r C ot D u ck 1st 6s
N p t N & O P 1st 5 s ’38 M -N
G e n e ra l 5 s .... 1941 M -S
N o rfo lk S t 1st 6 s ’ 4 4 . .J-J
N o rth C en t 4 * 8 1925 A - 0
2
S eries A 5s 1 9 2 6 .. ..J -J
S eries B 5s 1 9 2 6 ....J -J
P itt U n 'Trac 5a 1 9 9 7 .J J
P oto V a l l a t 5s 1 9 4 1 ..J-J
S av F l a * W e s t 5 a ’34 A-O
S eaboard A L 4 s 1950 A-O
Seab * R oa n 5a 1 9 2 6 . J J
S ou th B o u n d 1st 5 s ..A -O
UE1 L * P 1 st 4 * 29 M -N
28’
U n R y * E l 1st 4s ’49 M -S
I n c o m e 4s 1 9 4 9 ........J-D
F u n d in g 5s 1 9 3 6 ...J -D
V ir g in ia M id la n d —
2d series 6s 1 9 1 1 .. . M -S
3d se rie s 6s 1 9 1 6 ..M -S
4th ser 3-4-5s 1 9 2 1 .M-S
5tli series 5s 1 9 2 6 .M -S
V a (S tate) 3s n e w ’3 2 .J-J
F u n d d e b t 2-3a 199 1. J -J
W e s t N C coil 0« 1914 J-J
W e s V a C& P 1 st 6 g ’ 11 J-J
W il * W e ld 5 .S ..1 9 3 5 .J J

a R e c e ip ts ,

b <£25 paid.

54 Jan
39 *4 N ov
12 % N o v
14 Jan
48 J a n
23 3 Jan
4
118 J a n
86 J ’ne
3 i* 10 Jan
73iii6 J an
a54 ■ M ar
»
O ct
} 3 t ‘4 J a n
83 J a n
,7**10 Jan
51 Jan
65 A u g
101 B
’eb
32 M ar
A sk

B in

B A L T IM O R E
Cliarl C * A e x t 5 s .’ 09 J-J

115
97*2

H igh est

91*2
104
105
106*2
100
99
IOT
103
107*2
102
103
110
104
5 1 34
21*2
100
110%

94

100**
10L
109
103*2
108
102*2
103 “
a
115
106
52*4
22
103 <
2
.........

105
108
7 8 34 79
i o ‘S "
105
108
108
105
102
10a
68 >
4
102
103
88
85 34
50*2
78

.........

69
106
90
86
50\
79

105
106
106
106
108
85
!'0
7a
79
105
110
102*4
109
til

0 $30 paid.

THE CHRONICLE.

398

Volume of Business at Stock Exchanges
T R A N S A C T IO N S A T T H E N E W Y O R K STOCK E X C H A N G E
D A IL Y , W E E K L Y A N D Y E A R L Y
W eek en d in g
A u g u s t IS
iy u 7

S h ares

S a tu rd a y
M o n d a y ...............
T u e s d a y ...............
W e d n e s d a y .........
T h u r sd a y .............
F rid a y . . . . . . . . . .
T o t a l ..................

P a r va lu e

R a ilr o a d dtc
Bond*

State
B onds

V a
B on d s

* 4 7 ,4 0 0 ,2 0 0
100 ,0 9 7 .9 0 0
97.197.050
85.183.050
8 3,841,900
68,28a,750

$69 5,00 0
2.193.000
1.753.000
1.716.000
1.657.00 a
1,487,500

* 4 0 ,5 0 0
128.500
140.500
102.500
357 .500
107,300

5 ,407,491 $ 4 8 2 ,0 0 3 ,8 5 0

•i'9,501,500

$8 7 6 ,8 0 0

533 ,177
1,139,64 4
1 ,098,298
9 62,413
909,394
761,565

1907

10,000
$11 ,500

J a n u a r y 1 to A u g u s t 16

W eek en d in g A u g u s t 16

Sales at
N ew Y o r k Stock
E xch a n g e

$1,500

1-906

1906

1907

6,402,213
139,943.531|
178.451.712
S tock s— N o. sh ares
5,407.491
P a r viw ue.......... $48 2,00 3,8 50 $ 5 6 7,76 0,0 50 $11,968,800,885 $15 ,82 0,7 2 3,850
B a n k shares, p a r ..
$6,800
$100
$221,700
$ 3 4 0,30 0
BONDS
$11,500'
$5 0 5,80 0
$ 1 ,298,000
$16 ,150
Q -overn m en t bonds
876,800
664,000
31,784,100
5 1 ,901,550
S ta te b on d s.............
246 ,442 ,90 0
9,501,500
10,145,000
4.02,147,300
R R . an d m is. bonds
T ota l b on d s ___
d a il y

$ 1 0 ,339 ,80 0

t r a n s a c t io n s a t

$10 ,825 ,15 0
t h e

$27 8,71 2,8 00

bosto n

a n d

$45 5,34 6,8 50

Ph il a d e l p h ia

EXCHANGES
W eek en d in g
A u g u s t 16
iy o l
S aturda y
M o n d a y .........
T u e s d a y ..........
W ednesday. .
T h u r sd a y ........
F r i d a y ___. . . .

B o sto n
L isted
shares

U nlisted
sh a res

20,261
44,011
47,388
29,141
4 6,685
26,304

T o t a l........... 213,770]

17,016
23,965
2«S,9921
'28,692
3 0,333
20,430
147,428,

P h il a d e l p h i a
B on d
saies

L isted
shares

U nlisted
sh a res

Bond
sa les

$•10,000
27.000
12,0')0
19,500
16,100
11.000

21,735
37,758
35,655
23,435
31,494
25,895

6,801
2 0,9 9 0
15,5 3 8
13,733
9,398
9 ,839

$ 1 1 ,0 0 0
31,100
34,200
23,000
18,300
48,500

$95,(300

1 75 ,972

76,299

*1 6 6 ,1 0 0

Outside Securities
A W e e k ly R eview o ' O utside M a r k e t w il l be fo u n d o n a p r e c e d in g pag e.
S tr e e t R a ilw a y s
A sk
B id
NiSW YORK CITY
B le e c k St-Jfc F u l F s tk lOtt
24
28
78
82
H ist m ort 4 s 1950 ..J -J
f B ’y < 7th A vp stk ..1 0 0 ' 210 220
fc
104
1] 2d m o r t 5s 1914 ...J -J 100
C on 5s 194 3 See Stock E x ch list
105
B ’ w a y S u rf 1st 5s g u 1924 100
f C en t’ l C ros st’ n s t k ..i '0 0 220 •270
108
TJlstM 6s 1922 ...M -N
115
J C e n P k N & E R stk^lOO 14/y 160
f C lir ’ t’ rifc 10th St stk 100 130
150
CoKfe 9th A v e 5s S e e S to ck E x ch list
D ry D E B & B—
98
| l s t g old 5 s 1 9 3 2 ...J -D
103
91
95
S c r ip os 1 9 1 4 ___ F -A
B lg lith A v e n u e s L k ..l0 0 300 350
98
105
US crip 6s 1 9 1 4 ___ F-A
U42d«fe G r S t F ’ y s t k .. 100 330 380
60
65
4 2 d S t M & S t N A v .,1 0 0
102
111st m o r t 6s 1910 .M -S 5 l o «
68
1I2d in c o m e 6s 1HT5 J-J
73
I n t e r -M e t — S ««,S to ck E x ch a ’ ge lis t
L e x A v & P a v F os See St k E x c lis t
84
90
M e tro p o l S tr e e t R y . 1-00
N in th A v e n u e s t o c k . 100 1'30 160
S e c o n d A v e n u e stockd.00 140 l 7o
111st m ort 5s 1909 3VI-N §100 102
C on s ol 5s 1 9 4 8 ____ F-A 5104 108
JSix-th A v e n u e s to c k 100 140 -170
S o u B o u le v 5s 1 9 4 5 ..J i § 98 =104
S o .F e r 1st 5s 1 9 1 9 .. , A - 0 3100
103
T h ir d A v e n u e See S toek Ex cli •list
100
T a r r y W P <fc M 5a 1928 i 95
100
Y k e r s S tR R 5s 1946A -G i 95
103
88th < 29th Sts 1st 5s ’ 96 i 97
fc
1[T w enty-T h’ d St Htk 100 300 360
101
UlliOn R y 1st 3S <1942 F-A ,§ 98
W e s tcn e s t 1 st 5s'’ 43 J-J § 97
103
'
HKOOK.-LYN
A lla n A v e 5s 1 9 0 9 .. A -O § 97
C on 6s g 1 9 3 1 ..........A -0 li o o
95
B B < W E 5& 1 9 3 3 ..A-O
fc
B r o o k ly n C ity s t o c k .. .1 0 195 200
C on 5S See S to c k E x cli list
98
100
B k ln C rosstn 5s lj}08.J>-J
90
B k n H g t s -ls t 5s 1941 A-O
B k ln Q C o & S u b See Stk E x ch list
B k ly n R ap T ra n See Stk- E x ch list
150
U Coney Is. <fc B k ly u ..1 0 0 M t
sp '
1 st c o n s g 4s 1 9 4 8 .vJ-J
B r k - C '* N o s 1 9 3 9 .J-J, 104
Q r’ p t & L o r im e r S t 1 s t 6s 103
......
K in g s C.E1— 4s See Stock. E x ch list'
65
N a ssa u E le c p r e f........100
5 s 1 9 4 4 .......................A-O 102 106
1 st 4 s 1 9 5 1 ............See St k E s c h list
99
......
N W b ’ g < fc F la t ls t e x 4 % s
S te in w a y 1st 6s 1 92 2.J-J 3100
10,8
OTHER CITIES
B u ffa lo S tr e e t R y —
1 st c o n s o l 5s 1 9 3 1 ..F -A {1 0 4
10-7
D e b 6s 1 9 1 7 .............A .O §103
C h ica g o C ity R y
See C h ica g o list
C olu m b u s (Q ) S t R y .,1 0 0 1.00 . 103
P r e f e r r e d ...................l o o 107
109
C olu m R y c o n 5s See Ph. ila list
C ros st’ w n 1st 5s ’33. J -D §10o
105
59
G ra n d R a pid s R y . . . . l 0 0
63
P r e f e r r e d ................... 100
79 > 83
2
L a k e S t (C h ic) E l
See C h ica go list
IlL ou is v S t.5 s l9 3 0 ..J ife J §104% l o o 's
103
L y n n & B os 1st 5s ’ 2 4 . J-D §102
U N ew O rl R.ys < LgJ. 100
fc
18
20
U 'P r e fe r r e d ............... 100
64
67
U G e n M g 4 % s ’35 See S tk E x lis t
N o r t h C h ic S tr e e t See C h ica go list
Pul> S e r v Corp o f N J 1 0 0
95
T r c t fs 2% to 6% p erp e t * 60 " 61
C oll 5s g n o te s ’ 09 M -N. § 9 2 3 93%
4
N o r t h J er se y St R y 100
40
....
1st 4s 1 9 4 8 ......... M -N § *>5
68
70
C on s T r a c o f N J . .. 1 0 0
71
1st 5s 1 9 3 3 ........... J -D §102
103
N e w ’ k P as R y 5 s'’ 30J-J §105
107 .
R a p id T ra n St R y .,1 0 0 225
1 st 5s 1 9 2 1 ............A-O §105
i B u y e r p a y s a c c r ’ d in t.




S tr e e t R a ilw a y s
P u b S e r v C orp N J (C o n )
J C H obcfe P atersonlO O
4s g 1 9 4 9............. M -N
So J G as E l & T r a e 100
G u g 5s 19S<3........M -S
N o H u d Co R y Os’ 14J-J
5s 1 9 2 8 .................... J-J
E x t 5s 1 9 2 4 ........M -N
P a t C ity c o n 6s ’ 3 1 .J -D
2d 6 s . . . .1 9 1 4 o p t A -O
So Side E l (O hio)
See C
S y ra cu se R a p T r o s 1946
T r e n t P & H 5s 1943J-D
U n ite d R y s o f S t L —
C om v o t tr c t f s ....... 100
HP r e fe r r e d ................. 100
G en 4s 1 9 3 4___ See Stk
U n it R y sS a n F ra u See Stk
W a sh R y & E l C o . . ..1 0 0
P r e f e r r e d ...................100
4 s 1 9 5 1 .......................J -D
1 W e s t C h ica g o S t ___ 100
]
U C o n g os 1 9 3 6 ....M -N

B id

A sk

35
} 64
112
§ 98
§100
§100
§100
§110
§100
h icago
§100
§ .........

......
67
115
98
102

......
......
lis t
101 ‘a
102

. . . . . . 28
62
63
E x c h lis t
E x ch list
35
37
74
77
7-9 4, 80
28
33
...... ......

U a s S e c u r i t ie s
NEW YO-RK
96
C en t U n G as 5s g ’27.J& J‘ § 90
C on <Sas (N Y ) ........ See S t k E -xc h lis t
170
1|Mutual G a s ............... WO » 1 5 0
N e w A m sterd am G as—
90
1st co n s o l 5s 1 9 4 8 .-J-J § 85
105
N Y & E R G a s 1st 5 s ’ 44J-J §100
100
C o n so l os 1 9 4 5 ..........J-JJ A 95
33
36
N Y & R ic h m o n d Gas. 100
98
N e r U n 1st 5s 1 9 2 7 .M -N § 90
80
S t a n d a r d G as co m ..1 0 0
U P r e fe r r e d ............... 100 100
1 s t 5s 1 9 3 0 ..............M -N .§100 i b e ”
OTHKK CITIES
93
96
A m e r L ig h t & T r a c t . 100
$5
88
P r e f e r r e d ................... KJO
's
B a y S tate G a s ...............50
5ie
100
B in g h a m to n G as os 193 8 § So
B r o o k ly n U n io n G as deb
6s 19-09 c o n v ’ 0 7 . . .M -S 110 120
4
7
B u ffalo C ity G as sJ^ocklOO
1 s t 5s 1947 See S to c k E x c h l is t
92
C on G as af N J 5s ’ 36 J -J § 89
C on su m ers’ L H & P o w —
5s 1 9 3 8 ..,...................J-D ■§102
E liz a b e th G as L t C o .. 100 275
120
• s s e x & H u d so n G as 100 115
E
37
io h
F o r t W a y n e 6s 1 9 2 5 ..J-J
50
56
G a s * E i B e r g e n C o .. 100
99
G r R a p G i s t 5 s ’ 15 F-A § 95
H u d so n C o G a s ..........10U 104 105
In dian a N a t & HI G as—
10
20
1st 6s 1 9 0 8 ..............M -N
oO
95
I n d ia n a p o lis G a s ..........50
98
1st g 5s 1^)52............A-O' § 90
99
J a c k s o n G as 5s g *37.A -O § 93
50
_____
K an sas C ity G a s _____ 100
1|Lu.elede G a s ............... 100 n ......... 94
80
low
HP r e f e r r e d ............... 100
_
43
Laaay’ e G a s ls t 6s’ 24.M -N __ _
2*5
35
Lpgcfc W a b V 1st 6 s ’2-5.J-D
108
M a d ison G as 6s 1926. A -O §103
130
N e w a r k G as 6s 1 9 4 4 .Q-J §125
85
90
N e w a r k C on sol G a s ..1 0 0
105
I C o n g 5s 1 9 4 8 ........J-D 104
N o H u d so n L H & P e w —
o s 1 9 3 8 .......................A -O .§100
HO & In d C N a t & 111 .100. . . . . . . . . . . . .
25
1st 6s 1 9 2 6 ............... J -D
65
70
R a t & P a s G as & E le c 100
101
1 C o n g 5s 1 9 4 9 ....M -S § 99
1
86
S t J o s e p h G as 5 « 1937. J-J 4 78
■E lectric C o m p a n ie s
C h ic a g o E lliso n C o See C h ica go list
H K in gsC o E l L & P C o 1 0 0 110
120
N a rra g a n (P r o v ) El Co 30 t ......... 98
N Y & <4 E l L & P o w C o lO O
30
P r e f e r r e d ...................1-00
75
U n ite d K -ie clrio o f N J 1 0 0
65
4s 1949 ...................... J-D A 64
"tfi"

f P r ic e p e r sh. tS a le p rice .

T e l e e r ifc . e le p lio n e
H A m e r T e l e g * C able lo t
IlCentral & So A m e r . 100
C om m er U n T e l (N Y ).2 5
Ensp < Bay State T e l 100
fc
F r a n k lin ........................ 100
-UGoid & S t o c k ........... 10(
H u d son R iv e r T e le p h 100
1 Y<fcN J T e l e p h ...1 0 0
1N
1 N o rth w e s te r n T e le g . 5<
]
P a cific cfe A t la n t ic ........ 25
H Southern & A t la n t ic 25

[V o l .

lxxxv

.

In d u s t r ia l a n d iH iscei
Bin
A sk
2
4
C ons R y Ltsr&Rofri>r.lOi
C on sol R u b b e r T i r e ..1 0 0
3%
5
P r e f e r r e d ...... ............ 100
12
20
20
30
D e b e n tu re 4s i o 's i A A C
55
3
Cons Steam shp L in e s. 100
V1
*
24
24%
C oll tr 4s lc»57___ J & J
62* C on s S to ra g e B a tte ry I d .
8
11
110
C orn P r o d R e f See Stock E x ch list
1iC rucible S t e e l........... l o o
6->4
116
7%
U P r e fe r r e d .................100
62% 63
78
100
^ D iam on d M atch C o . 100 125
5
4%
D om in ion C o p p e r(n e w ) 1
<
7%
F e r r y C o m p a n ie s
D ou g la s C o p p e r ............. 5
30
3o
V.
2
83
B ro o k ly n F erry stocklQ O
87
P r e f e r r e d .................. 100
2
8
B & N Y 1st 6s 19 ll - J - J § 98
E le c t r ic V e h ic le
100
4
N Y & K R F e r r y s t k . 100
60
12
P r e f e r r e d ...................100
70
9
1st o s 1 9 2 2 ............. M -N
12
75
E m pire S te e l............... 100
N Y & H o b co n 5 s ’ 46.J-D §100
58
62
.... P r e fe r r e d ...................100
40
51
H o b F y 1st 5s 1946 M-N §103H,
UFederal S u g ar o f N Y 1 00
70
80
N Y cfe N J 2d os 1 9 4 6 . J-J §100
U P re fe rre d .................100
40
63
70
10th & 23d Sts F e r r y 100
30
UGeneral C h em ical ..1 0 0
96
99
1st m ort os 1 9 1 9 ...J -I ) § 65
80
U P referred ................. 100
11[Union F e r r y s to c k .1 0 0
25
2
G old H ill C o p p e r ___ _ 1 t
I 3*
T l s t 5s 1920 ............M -N
i
85
G reen e C a n a n e a ........... 20 t 1134 12%
G re e n e C on C o p p e r ...1 0
S h o r t-T e r m N o te s
G re e n e C on sol G o ld ... 10 t “ 1% "*l” 4
1%
G re e n e G o ld - S ilv e r ....]0 t
l3
*
A m C i? ser A 4 s ’ 1 1 .M -S § 89
91
185
G u g n e n lie im E x p lo ’ n .100 170
S er B 4s M c h l 5 ’ 12.M -S § 88
90
H a c k e n s a c k W ater Co —
A m T e l & T e l g 5s ’ 10 J -J § 9 5 '4 96
R e f g 4s 52 o p 1 2 . ..J -J § 88
93
A tla n Coa,st L - s ’ )0 .M -~ § 9 5 1 96
55
H all S ign a l C o ............100
65
4
C e m C r o s s ’ n g u 5 s ’ 09M-JS § 95
10
98
H a v a n a T o b a c c o C o .. 100
11
14
d i e s & O hio 6s J ’ e 28 ’ 0? § 99*6 99 7
P r e fe r r e d ................... 100
17
s
55
6s, J u ly t, 1 9 1 0 _______ § 9 8 34 99%
1st g 5s J u n e 1 ’ 2 2 .J -D
66
Ch R I & P a c 4 ’*as’ 0HA-O i 9 8 ^ 99% H e ck e r-J o n e s -J e w ’ l M ill
C h ic ifc W In d 5 s ’ 1 0 F & A § 9 8 34 99 %
1st 6s 1 9 2 2 ............... M-S 102
105
72
C in H am & D 4 ^ s ’ O S.M -S
38
45
81
H e r’ g -H a ll-M a r,n e w .lO O
U C C & S t L 5s, J u n e ’ 11 § 97
97 5g H o b o k e n L a n d & Im plOO 200
......
§100
E r ie 6s, A p r 8 1908 ......... § 9 4 % 95 s
......
6
I n t e r b R T g 4s 1908 M-N § 96
97% H o u sto n O i l .................100
32
38
5s M ch 1 9 1 0 ............. M-S § 94
95
P r e f e r r e d ...................100
K a n C So g 5 s A p r ’ 12 J - J i 94
95% H u dson R e a lty ........... 100 120 135
48
......
' L a c k S t e e ig S s 1909 ..M -S § 95
9 ’>% 1Insrer8olI-Rand c o m . 100
87
5s g 1 91 0.................... M-S § 93 % 95
......
U P r e fe r r e d ...................100
135
L a k e Sh & M So 5s’ 10 F-A § 97% 9 7 3 I n te rn a t’ IB an k in gC olO O 125
,
L o u & N a sh g 5s ’ 1 0 .M-S § 98
98% U ln t’ n ’ l M er M ar See Stk E x ch lis t
95
105
M ich C en t 5s 1910 . . . F -A § 97H> 973* In tern a t’l N ic k e l ___ 100
83
M m n & S t L g 5 s ’ 1 1 .. F -A § 96
87
97%
P r e f e r r e d ...................100
12
M o Pa c 5s F e b 10 ’08. F-A § 9 9 i« 99*8 In tern a tion a l S a lt___ 100
14
N a t o f M e x § s ’ 0 7 .o p t A -O § 99 7 100%
50
g
58
l s t g 5s, 195 1..........A -O
6
N Y C en t o s 1910___ F-A § 973* 97«s In te r n a tio n a l S i l v e r . l o o
#
P e n n C o g u 4 S ts 1907M-N § 9 9 7 100%
64
67
fc
P r e f e r r e d ...................100
Pa R R 5s M a r 15 ’ 10.M-S i 97% 973g
1st 6s 1 9 4 8.................J-D 106% 107%,
1S t L M S o ’east 4 ^8*09 J -D § 95 % 96*4 L a ck a w a n n a S teel...1 0t>
50
53
S t L & S F g 4 ( 0 8 . . . J -D § 95a4 96*4 lian ston M o n o ty p e ........20 t 12% 13
-i’
195
S o u th ’n c o il t r 5s ’ 0 9 . A-O i 96
98
iia w y e rs M o r t C o ........100 18a
52
70
S ou th R y g 5s 191 0.. F-A i 91% 9 2 “ ULeh<fc W ilk e s b C o a l.50
?
130 133
U S R u b b e r g 5 s ’ 0 8 ..M -S i 9s% 9 8 3
,
W a b a sh 5s, M a y 10 190.-* § 94
P r e f e r r e d ...................100 . . . . . . 100
95
136
W e s t i n g h E l * M 6s. 1910 § 9834 99% U Lorillard ( P ) p re f . .. 1 0 0 125
W h e e l’ g & L E 5s ’ 08 -F -A § 96% 97
M ack -iy C om pa n ies See S tk E x lis t
15
22%
M adison Sq G a r d e n ..1 0 0
R a ilr o a d
76
80
2d 6s 1 9 1 9............... M-N
3
7
U M aniiatt B e a ch C o .1 0 0
C h ic P e o & S t L p r e f.1 0 0
4*8
M an h a ttan T r a n s it ___ 20 t
4 58
D e p o s ite d s t o c k .............
13
17
M e x N a t C on stru c.p flO O
U n d e u o site d s t o c k ........
M itch e ll M in in g ............10 t
1=8
l 7s
90
7
P fio rlie n g 4 1
2S'30M<feS
M o n o n g a h e la R C o a l..5 0 t
, C on m tg g 5s 1 9 3 0 .J & J
65
P r e f e r r e d .....................50 t 26^,
In c o m e 5s 1 9 3 0 ............. ..
85
3
95
M o r tg a g e B o n d C o...l.t#o
C h ic S u b w a y .................100
95
18% 19
100
N at B a n k o f C u b a ....1 0 0
F t W < D e n C y s t d ,.1 0 0
fc
97
170
105
N a tio n a l S u r e t y ......... 100 155
. G rea t N o rth e n O re See Stk B x list N e v a d a C o n s’ ll C o p p e r .5 t 10
10%
N Y N H <fc H artford —
N e v -U ta h M in < & m .li f
fc
4
4%
C on d eb 3 '2 8 1 9 5 6 . J & J i 94
25
IjN ew C en tral C o a l ___ 20
50
97
N o rth ’ n S e c u r itie s Stu bs
87% 100
N J T e r D o c k * I m p . 100
......
P itts B e ss < L E ..........50 t 28
fc
N Y B is c u it 6s 1 9 1 1 .M -S 102*2
31
P r e f e r r e d .....................50 t 60
i ‘9 5 '*
70
N Y K t g e < S e c u r ity . 100 185
fc
20
UR a ilro a d S e c u r itie s C o.U N ew Y o r k D o c k ___ 100
70
I ll.C .s tk .t r .c fs .s e r .A ’ 52
U P referred ............... 100
18?
92
S e a b o a rd C om p a n y—
4
N Y T r a n s p o r t a t io n ...20 ► 2
95
1s t p r e fe r r e d ........... 100
56
X ile s -B e m -P o n d c o m . 10#
105
60
C om & 2d p r e f.S e e B a lt E x c h lis t
6%
6%
N ip is s in g Jl i n e s ........
0 t
Seab oard A i r L in e —
3*v
ItO n tario S i l v e r ......... 100
4%
C o U S s e x t M a y ’ 1 1 .M -S § 94
25
35
O tis E le v a to r c o m ___ 100
97
92
P r e f e r r e d ...................100
I n d u s t r ia l a n d M is c e l
P it t s b u r g B r e w m g ___ 50 t "26*i 27
A h m e e k M in in g .......... 25
70
80
P r e f e r r e d .....................50 t ......... 50
A llia n c e R e a lt y ..........100 110
120
P itts b u r g Coal See Stock E x c h listA llis C h alm ers C o 1st m
1
P o p e M a n u fa c tu r in g , l o o
s f o.s ’ 36 o p t ’ 1 6 .. J - J § 65
30
1st p r e f e r r e d ............100
70
A m e r ic a n B o o k ..........100 150
160
2d p r e f e r r e d . .
100 . . . . . . 10
A m e r ic a n B r a s s ......... 100 118
97% 102T%
P ra tt <fc W h itn p r e f .. 100
120
150
1 A m e r ic a n C an See S toc k E x list
1
R e a lty A s s e e (Bfelyn)lO O 140
98
102
, A m e r ic a n C h icle C o . . 100 180 183
R oy al B a k P o w d p re f.1 0 0
P r e f e r r e d ...................i « o
140
90
S a le ty Car M eat & L t 100 130
97
75
85
A m G rapU opko c o m ..1 0 0
45
50
P r e f e r r e d .................100
70
S in g e r M fg (Jo............. 100 . . . . . . 165
79
2 34
A m e r H a c d w a re ......... 10?i 115
S tand ard C o rd a g e___ 100
3%
12S
33
Am M a lt in g 6 s 1 9 1 4 .J -D
38
95
1st M .g .5 s .’ 3 i r e d .. A .O
100
A n ie r P r e s s A s s o c ’ n .1 0 0
95
A d ju s t, i l . os. A p r 1,1931
5%
6%
100
45
A m Soda F o u a c o m .. 100
1
56
Standard C ou p ler com 100
1 s t p r e fe rr e d ............. 100
P r e f e r r e d ...................100 115
125
‘^0
2d p r e fe rr e d ............. 100
5
Standard M illiu g C o . 100
8
5
A m S t F o u n d 6s ’ 35 A<fc O § 85
P r e f e r r e d ...................1 o «
26
29
89
A m e rica n bH rety..........50 18o
75
1st 5s 1 9 3 0 ............. M -N
7s»
190
4
458
! A m e rica n T h rea d p r e f . . 5 t
S tand ard O il o f N J ..1 0 0 441
6
A m T o b a c (n e w ) co m 100 230
S w ift & C o See B o sto n St k E x c h 'g e
235
A m T y p e fo ’ ra c o m .. .1 0 0
101%
36
40
1st 5s 1 9 1 0 -1 9 1 4 ...J -J §100
P r e f e r r e d ................... 100
90
94
b4
98
UTexas*<fc P a cific Ceal 100
A m e r W r itin g P a p e r . 100
1
1st 6s 1 9 0 8 ............. .A -O §104
2
B r e ie r r e d ...................100
160
15
T it le I n s C o o f N Y ..1 0 0 150
20
1st s f g 5s ’ 19 op ’ 0 9 .J - J
79
ll1
*
80 1T o n a p a h M in (N e v a d a ).1 t 10
U-Barney & Sm Car . .. 1 0 0
60
70
T r e n to n P o tte rie s co m 10,0 . . . . . . 15
84
90
U P re fe rre d .................100 n ......... 140
P r e fe r re d n e w . . . . 1 0 0
36
45
U Bethl’ m S teel C orp .1 0 0
10
T r o w D ir e c t o r y .........1 0 0
12
U P r e fe r r e d ............... 100
32
60
U ruen C op p er M lines.. 5 f -------78
83
B liss C om pa n y c o m ___ 50 125
U n ion T y p e w r c o m ..1 0 0
135
113
P r e f e r r e d .....................50 125
135
117
114
Bondife M t g G u a r ___ 100 330 345
2d p r e fe rr e d ............. 100 112
60
U n ited B k N o te C o r p ..5 0 t 55
B orden ’ s C o n d M ilk .. 100 160
167
49
52
P r e f e r r e d ...................100 106
P r e fe r re d ................. 50
108
U U n itediJig arM fg.,pf.lO 0
76
90
B ritish Uol C o p p e r ......... 5 t
8%
8
55
B u tte C o a litio n M i n .. 15
U n ite d C o p p e r........ . .. 1 0 0
66
18
19
78
C a sein Co o f A m com .. 100
82
2
3
P r e f e r r e d ...................100
220 240
75
4-0
35
C a su alty Co o f A m e r . 100 i.25
U S E n v e lo p e c o m .. . 100
140
U P referred .................100
C e llu lo id C o ...................100 125
97
100
132
O S S teel C o rp o ra tio n —
C en t F ir e w o r k s c o m . 100
10
15
C o lt r s f 5s ’ 51 o p t ’ 11 .. §165
P r e fe r re d ....................l o o
65
109
75
C ol tr s f o s ’ 51 n o t o p t .. §106
C e n tra l F o u n d r y ___ 100
109
1
2■
«
* 13
V S T i t Gu<fc In d em .lO O
P r e f e r r e d ................... 100
100
UU ta h C op p er Co. See S tk E x lis t
D e b 6s 1 91 9 op ’ 01 M-N ’ 6 8 ”
71
W a te r b u r y Uo, o o m ..lO o
C e n tu ry R e a lt y ......... 100 186
40
195
38
C h e se b ro u g h M fg Co 100 417 440
P r e f e r r e d .... ..........100
100
W e s t c u e s te r & B r o n x
C ity I n v e s t in g C o ___ l o o
95
90
T it le < M o r t G u a r . 100 167% 172%
fc
UClatlin (H B ) c o m ___ 100 100
......
31 *9 39
H is t p r e fe r r e d ......... 100
90
. . . . . . W e s te r n I c e .................l o o
.......
112d p r e fe rr e d ........... 100
93
W e stin g h A ir B r a k e ..50 140
Col & H o o k C oahfcl p f 100
76
U W est E l& M fg —o s See
S tk E X 1186
85
1st g o s 1 9 1 7 ......... J-J § 82
W h ile K n o b M i n . . . _ . 1 0
l4
23,
lo l%
2%
97
P r e fe r re d ...................... 10
C ol t r 6s O ct 1 9 5 6 ..J -J
42
C on solid Car H e a tin g 100
38
W o rth in g P u m p p r e f.1 0 0 110 116

a E x -iig iita . »Ex-<ttv. 4 N e w stocfc.

B id
75
110
113
75
45
110
55
100
105
70
93

A sk
90
120

. ....

......

I S e lls o n Sb’ k E x o ii., b a t n e t a v e r y a c t iv e s e c u r ity .

399

THE CHRONICLE

A u g . 17 1907.]

Im rje s tm m t

and

ita ilw a d

RAILROAD

GROSS

I n te llig e n c e ,

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or m onthly returns
can be obtained. The first tw o columns of figures give the gross earnings for the latest week or m onth, and the last tw o
columns the earnings for the period from July 1 to and including such latest week or m onth. We add a supplem entary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers som e other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest G ross E a rn in g s.
W eek or
M on th .

ROADS.

Current
Y ea r.

P reviou s
Y ea r.

Latest G ross E a rn in g ?.

J u ly 1 to Latest D ate.
Current
Y ear.

A la G reat S outhern — Sec S ou t h e m B all w ay.
A la N O & T e x P a c.
100,000
4 7 .000
4 9 ,000
N O & N E a s t . . . 2d wl* J u ly
A la & V ic k s b u r g . 2d w k J u ly
48.000
24.000
21,000
V ic k s b u r g Sh & P 2d w k J u ly
26.000
25,000
53.0 0 0
3,513
2,576
45,876
A la T en n & N o r t h .- June
k A tc h T o p & S F e . J u n e ______7 ,8 5 6 ,5 9 2 j6 ,728 ,087
,683,401
A tla n ta & C h ari___ M a y ...........| 371,8501 325,883
930 ,934
,595,866
A tla n B irm & A tl -J _ u n e ______
154 ,783
107,782
,771,527
A tla n tic Coast Line J u n e ______ 2,097,1041 2,15 2,9 08
B a ltim o re & O h i o . , J u l y ______ 7 ,2 5 1 ,9 0 3 6,5 4 4 ,8 4 6
251,903
264 ,6 4 4
216 ,516
ly in g o r & A r o o s t o o k J u n e ______
,221,693
5,531
B fcllefonte C e n t r a l.. J u l y ______
5,531
3,775
4 ,4 8 4
4,675
B r id g e to n & S a co Bi J u n e ______|
47,050
B u ff B o c k & P i t t s . . 1st w k A u g: 161,983. 167 ,915
997,423
110,963
686,278
B u ffa lo & S u s q ____ M a y ______I 171 ,887
C a n adian N o r t h e r n . 1st w k A u g I 196,-700
125 ,900
,136,200
,465,000
Canaidian P a c ific ___ 1st w k A u g 1 ,5 6 5 ,0 0 0 1 ,399,000
C en tral o f G e o r g i a .- 1st w k A u g
217 ,100
218,400.
,179,600
,249,172
Centi'al o f N Je rse y - M a y ______ 2 ,4 6 4 ,50& 1,8 5 0 ,2 0 3
C h a tta n S o u t h e r n .. 1st w k A u g i
2.0,487
3,568
3,019
C h esap eak e & O h io . J u n e ______ 2,4 3 0 ,6 8 0 2 ,196,555
,796,856
5,711
2,872
51,912
C h esterfield & L ane M a y ______
Chlca-go & A lt o n B y J u n e ______ 1 ,0 6 7 ,1 0 0
911,557 12 ,809,426
854,485
158 ,140
162,751
C h ic G rea t W estern 1st w k A u g
C h ic In d & L o u ls v . 1st w k A u g
593 ,540
1 17 ,284
121,004
C h ic In d & Sou th ern — See New, Y o r k Cen tral.
C h ic M ilw & St P a u l M a y ______ 4,9 2 6 ,5 6 5 4,340,243 *53 669,422
,878,929
C h ic & N o rth W est.. J u n e ______ 5 ,9 3 1 ,5 8 4 5,7 9 7 ,2 2 3
C h ic St P a u l M & O . J u n e ______ 1 ,148,448 1 ,084,170
,035,306
C h ic T erm T ra n R B 4tfh w k ju n e 5 41,818
45,645
,716,487
C in N O & T e x a s P — See S o u t hern B a ll [w ay.
C in cin n a ti N orthern — See N ew Y o r k Cen [tralC lev Cin C h ic & St L
See N ew Y o r k Cen tral.
199 ,324
174,656’
,454,608
C o lo r a d o M id la n d .. June
h Col & S ou th S y s . . 4 th w k J u ly
,087,682
280,113
285,321
Col N e w b & L a u r . . J u n e ______
17,942
17,675
311,95.4
C op p er B a n g e ______ M a y - ____
*2,67 7
52,983
7 41 ,168
C o r n w a l l ___________ J u n e ______
220,971
19 rl8 3 f
17,572
C ornw all & Lebanon, M a y ______
442,851
46,1 4 3
35,011
D e n v & B io G rande 1st w k A u g
4 42 ,700
389,200
3 9 1 ,6 0 0
D e tr o it & M a ck in a c 1st w k A u g
1 30,084
24,206
24,760
358,706
D e t T o l & Ir o n t Sys 4 th w k J u ly
128,501
123 ,286
4 03 ,494
D u l S o S h ore & A t l . 1st w k A u g
73,4991
58,237
E r ie _________________ M a y ........... 4 ,866,662 4,102.434 49 000 ,8 7 6
E v a n s v ille & T e r H — See R o c k [ Isla n d S y s t e m .
F a irch ild & N E ___ J u n e ______
18,809
l ,6 1 9 f
1,673
F o n d a J oh n s & G lov J u n e ..........
•
68,0731
84,61-5
774 ,536
G eorgia R B ________ J u n e ...........| 21#,4351 r9 9 ,1 4 0
,016,455'
G eorgia Sou-tli & FI
See Sou th e m R a H lw a y.
G ra n d T ru n k S y s t __ 1st w k A u g
869,037
925 .246
,926,584
G r T ru n k W e s t _ . 3d w k July; 1-22,431
1 0 9 ,1 1 2
366,427
D e t G r H & M llw 3d w k J u ly
109,366
36,640
4 0,688
1 2 8 ,6 8 4
C a n a d a A t la n t ic - 3d w k J u ly
4 0 ,3 6 2
37,029
G reat N o rth e r n ____ J u l y ____ 8 ,0 6 6 ,6 0 2 4,776,4>56
,0 6 6 ,6 0 2
233,571
M o n ta n a C e n tra l- J u l y ____
233,571
247,515
T o ta l s y s te m ____ J u l y ____
,300,173
5,3 0 0 ,1 7 3 5 ,023,961
G u lf & Ship I s la n d . 4th w k J u ly
64,417
6 1,738
220 ,962
H o c k in g V a lle y ____ J u n e ______
674.247
,907,044
531 ,886
Illin ois C e n t r a l____ J u ly
.702,819
4 ,7 0 2 ,S l9 4 ,3 4 2 ,1 4 6
In ter & G reat N ortli 1 st w k A u g
105,000,
693,000
112 ,000
a ln t e r o c e a n lc (M ex1 4th w k Ju ly
)
184.5U7
204 ,623
582,810
I o w a C en tra l_______ 1st w k A u g1
55,5545
53-,214:
294,241
K a n a w h a & M iich -- J u n e ______. 213,311
,377,65.-9
191,892
K an sas C ity Souttiu Jun# ______
661 ,989
870,4^ 8
,284,882
L a k e Erie <s W e s t ’n — See N ew Y o r k Cen tral.
S
L a k e Shore & M Sou — See N ew Y o r k Cen ■tral
L eh igh V a l l e y _____ J u n e ______ >3,348,393 ’3 ,1 7 2 ,8 6 3 ,36,0 68,429
--------5 8 4 ,4 3 8
L e s ln g t o n & E a s t - . J u n e ______
51.797
4 7 ,4 4 9
D e c . 7 , >704
L o n g I s la n d ________ J u n e ______
rnc.
L ou isia n a & A r k a n . M a y ______
I l f .854
105J5Q8 1,1 0 1 .7 9 4
L ou is v ille & Nash-V-i 1st w k A u g
876 ,970 4 ,9 7 0 ,5 0 0
9-34,140
13,060
12,149
M a con & B ir m in g -- J u l y ______'
1 2 ,1 4 9
M anlstee & N o East M a r c h ____ ,
44 „«6 »
4 4 ,6 5 4
6,974
M a n ls tlq u e_________ J u ly _____ ’
6 ,9 7 4
13,036'
M a ryla n d & P e n t u . J u n e ______
3 60,547
29,7321
27 68,8
a, M exica n C e n tr a l.. M a y ______ 2',995,982 2 .4 7 9 ,4 _ _ .28,492,107
a M exica n In t e r n a t . 4th w kj'iriy
267,671[ 207,655
?59',735
a M exica n R a ilw a y . 3d w k July
1 4 1 ,200j 136,400
4 28 ,700
23,33i>!
23,680
a M exica n Sou th ern 3d w k J u ly
8 1,096
M ich igan C en tral___ — See N ew Y o r k Cen tral
M id lan d V a lle y _____ 1st w k A u g
38.320
10,667
i5 9 ,6 1 ft
M ineral R a n g e ______ 1st w k A u g
1 6 ,1 7 3
14,3738 8,432
M in neap & S t L o u is ; 1st w k A u g
79*665
73/406
436 ,945
M in n S t P & S S M . 1st w k Aug;
228,664
22-3,813 1 ,3 3 0 ,8 2 3
375,412 2,65,4,216
M o K an sas & T ex a s 1st w k A u g
468,949
M o P a c & Ir o n M t . . 1st w k A u g
862 , C O
T © 814 ,000 4 .8 3 6 .0 0 0
£ 4 ,0 0 0
28,006,
C en tral B r a n c h .- 1st w k A u g
1 67,000
T o t a l ____________ 1st w k A u g
56-000
8'42,00q 5.0 0 3 .0 0 0
M obile & O h io ______ — See S out Hern R a il w a y .
Nasli-v Cftatt & St L J u n e ______ 1,113,794 1 ,128,519 12,238 469
3 77,587 1 ,377,463
a N a t B B o f M e x .. 4th w k J u ly
476 ,869
H id a lg o & N E__ 4th w k J u ly
31,711
27,443
85,113
5^739
N e v a d a -C a l'O r e g o n . 1st w k A u g
7,532
34,831
N e v a d a C en tra l____ J u n e ______
6,811
84,489
8,301
N Y C h ic & St L ou is — See N ew Y o rk Cen tral.
N I O n t & W estern J u n e ______
726 ,240
7 02,473 8,202,361

W eek or
M o n th .

P rev io u s
Y ea r.

99.000
43.000
47.000
41,413
,801,005
,743,816
,128,327
,868,445
,544,846
.496,784
3,775
47,568
728 ,0 0 6
,417,196
729 ,700
,281,000
,172,300
.8 83,710
19,801
,602,986
35,638
,5 86,004
882 ,644
619,321
5 0,649,321
63,4 8 1 ,5 4 5
12,943,745
1,7 3 1 ,2 0 0

,13-2,664
,0 l7 ;2 1 9
289,120
6,13,900^05,215
408 ,043
,043.50j0
123 ,240
340,297
337 ,450
45 ,500,600
2 2 ,2 9 4
22-8,710
2.842-,493
4,4 7 5 ,2 7 1
3 35 ,754
123 ,933
• 125.676
4 ,7 7 6 ,4 3 6
247,515
5 ,023,951
193 ,383
6 ,4 3 9 ,8 0 6
4,34,2,146
667,000
581,761
288,039
2.1 5 2 ,7 5 9
7 ,752,889
3 2 ,7 8 9 ,8 5 6
528 ,912
8 79 ,468
956 ,464
4,5 8 0 ,4 9 3
13,4*60
i s 'd s s
360,298
2 5,7 9 4 .8 6 7
589 ,578
4 1 9 ,3 0 0
68,755
71,7 0 6
71,1 6 9
391,981
1..222.158
2 ,2 2 3 ,7 6 6
4 ,5 3 2 ,0 0 0
170,000
4,702*,000
11,1 2 0 ,9 8 0
1,188,043
86,206
27,365
61,249
7.265..057

N Y C & H u d R iv e r
L a k e S h ore & M S
L a k e E rie & W e s t
Ch ic In d & Sou th
M ich ig an C e n tra l.
C leve C C & St L_
Peoria, & E a stern
C in cin n a ti N o r t h .
P itts & L a k e Erie
R u t l a n d __________
N Y C h ic & St L .
N Y Susq & W e s t . .
N o rfo lk & W e s t e r n .
N o rth e rn C e n tra l__
N o rth e rn P a c ific ___
P a cific C oa st C o ___
d P en n — E a st P & E
d W est o f P & E .
P e o ria & E a stern _ .
P h ila B a lt & W a s h .
P itts Cin C h lc & S t L
P itts & L a k e Erfe
R a le ig h & C hariest .
R a le ig h & S o u th p o rt
R e a d in g R a ilw a y . .
C oal & Ir o n C o . .
T o t a l b o th o o s ___
R i c h F re d & P o t ___
R io G ra nde J u n e ___
R i o G r a n d e S o u th ._
R o c k Isla n d S ystem
e St L & San F ran
f E v an sv & Ter H
T o t a l o f all lln e s R u t l a n d ____________
St J o s & G ra n d I s lSt L ou is & San F ran
S t L o u is S o u th w e s tS e a b o a rd A ir L i n e - .
Slerra B a l l w a y ____
Sou th ern I n d i a n a ..
c S ou th ern P a c C o . .
S o u th e rn B a llw a y _ .
M ob ile & O h io ___
Cin N O * T e x P .
A la G reat S o u t h .
Georgi-a S o & F la .
T e x a s C e n t r a l ______
T e x a s & P a c ific ____
T id e w a te r & W e s t .
T o le d o & O h io C en t
T o le d o P e o & W e s t .
T o le d o S t L & W e s t
T o m b tg b e e V a lle y . .
T o r H a m & B u ffa lo
U n io n P a cific S y s t .
V irg in la & S o W e s t W a b a s h ____________
W e s te rn M a r y la n d W e s t J e rse y & S e a W h e e l & L a k e E r ie .
W isc o n s in C e n tr a l. .
W r ig h ts v & Ten’nille
Y a z o o & M iss V a lle y

J u l y ______
J u l y ...........
J u l y --------J u l y ______
J u l y --------J u l y ______
J u l y ______
J u l y ______
J u l y ______
J u l y ______
J u l y ______
M a y ______
J u n e ______
J u n e ______
J u l y --------J u n e ______
J u n e ______
J u n e ______
See N ew
J u n e ______
J u n e ______
See N ew
J u n e ______
J u n e ______
M a y ______
M a y ______
M a y ______
M a y ___
M a y ______
1st w k A u g
Ju n e . . .
J u n e ______
J u n e _____
J u n e _____
— See N ew
M a y ______
— See B o c k
1st w k A u g
M a y ____
J u n e ____
J u l y ____
J u n e ____
1st w k A u g
ls s w k A u g
3d w k J u ly
3d w k J u ly
4th w k J u ly
4th w k J u ly
1st w k A u g
M a y ______
J u n e _____
list w k A u g
1st w k A u g
J u n e _____
J u ly _____
J u n e _____
J u l y ______
1st w k A u g
1st w k A u g
J u n e _____
1st w k A u g
M a y ______
J u n e ______
J u l y ______

8,769,318 7,7 2 9 ,2 2 2
3 ,804,876 3,584,431
433 ,239
398,485
235,225
166,078
2,3 8 6 ,8 4 3 2,118,971
2 ,312,463 2,1 4 3 ,3 6 4
244 ,637
234,676
88,353
84.136
1,4 3 3 ,6 9 5 1,315,773
249,923
286,276
808 ,722
809,256
204,427
2 95 ,289
2,7 5 1 ,3 8 3 2,478,043
1,165,70,“ 1 ,041,102
6,9 5 5 ,4 0 7 5,6 8 8 ,9 2 6
488,046
730.270
14035487 123607S7
I n c . 97 3,100
Y o r k Cen tral.
■1,481,117 1 ,364,417
2 753,937 2 ,442,849
Y o r k Cen, tral.
4,846
4,316
10.137
5,695
3 ,9 9 5 ,9 1 0 3,2 8 9 ,0 5 2
3 ,407,558 2 ,7 7 3 ,7 8 3
7 ,4 0 3 ,4 6 8 6 ,0 6 2 ,8 3 5
210,811
208,267
58,818
7 3,625
11,008
1 0 ,5 4 0
■5,357,560 4,1 7 5 ,3 1 7
4,1 4 8 ,8 5 1 3 ,3 4 8 ,8 1 8
166,660
162,924
9 ,6 6 9 ,3 3 6 7 ,6 9 0 ,7 9 5
Y o r k Cen tral.
124,266
154,612
Isla n d S y s te m .
204,191
177,235
1 421 ,963 1,2 9 6 ,7 2 6
36,377
37,179
113,526
1 37 .270
110 82898 9,230,647
1,0 9 3 ,0 4 7 1,0 1 1 ,7 3 2
162,984
1 72 ,896
168,426 , 165,244
68,756
77,509
6 7,226
57,087
31,573
24,603
1 245 ,725
208,043
10,816
9,307
320,035
439 ,542
20,961
17,888
96,584
82,024
5,173
5,333
7 6 ,1 4 6
62,739
6 ,577,669 5,507,281
84,862
102,648
545,362
569,672
107,605
126,562
536,424
501 ,124
127 ,113
113 ,247
683 ,163
602 ,403
13.230
14,367
667 ,7 3 3
588,4 67

V a rio u s F isca l Y ea rs.

P e r io d .

A tla n ta & C h a rlo tte A ir L in e ___
B e lle fo n te Central-_______________
M anistee & N orth ea stern _______
M a n is t k fu e ______________________
M e x ica n B a llw a y ________________
M e x ica n S o u th e rn _______________
N e w Y o r k C en tral_______________
L a k e S hore & M ich igan Sou th
L a k e E rie & W e ste rn .’ ________
C h ica g o I n d ia n a & S o u th e r n .
M ich ig an C en tral_____________
C leve Cin C h ic & St L o u is ____
P e o ria & E a s te r n _____________
C in cin n ati N o r t h e r n _________
P itts b u r g h & L a k e E r ie ______
R u t l a n d _______________________
N e w Y o r k C h ica g o & St L ou is
N o rth e r n C e n tra l________________
d P e n n — E a st o f P itts * E r i e ..
d W e s t o f P itts b u rg h & E r ie __
P h ila B a ltim o re & W a s h in g to n .
P itts C in e C h icago & St L o u r s ..
R io G ra n d e J u n c t io n ____________
T e x a s & P a c if ic . T_______________
W e s t J ersey & Seash ore________

Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan 1
Jan
Jan
Jan
Jan
Jan
J an
D ec
Jan
Jan

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

J u ly 1 to Latest D a te.
Curreni
Y ea r.

Current
Y ea r.

M ay
J u ly
M ch
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
J u ly
Ju n e
Jun e
Jun e
Jun e
Ju n e
M ay
Aug
Jun e

P reviou s
Y ea r

8 ,7 6 9 ,3 1 8
3 ,804,876
398,485
235,225
2,3 8 6 ,8 4 3
2,3 1 2 ,4 6 3
234 ,676
84,136
1 ,433,695
286,276
809 ,256
2 ,8 4 7 ,7 9 9
31,1 6 4 ,8 7 7
12,616,9-18
6,935,407
7,406,491
157554690
I n c . 8,99

7 ,7 2 9 ,2 2 2
3,584,431
433 ,239
166,078
2,118,971
2 ,1 4 3 ,3 6 4
244,637
83,3 5 3
1 ,3 1 5 ,7 7 3
2 49 ,923
808 ,7 2 2
2,506 313
28,4 8 7 ,7 6 3
11,1 2 5 ,5 4 8
5 ,6 8 8 ,9 2 6
6 ,3 0 8 ,4 0 8
141773990
l.SOO

16,683,849 1 5 ,197,349
31 ,273,802 28 361,771
69,808
101,707
39,5 3 7 ,5 5 5
3 5,418.016
7 4 .955,571
1,7 7 4 ,1 6 0
755 ,794
64,789
6 0 ,2 3 8 ,4 1 5
4 9 ,9 5 8 ,7 7 8
2 ,2 6 7 ,2 1 4
112464410

58,233
6 4,282
,959 117
,769,300
,728,417
,585 496
613.381
5 9,157
,2 37,854
,975,217
,163,679
,376,752

1,59.7,731

1,4 0 7 .0 6 7

8 91 ,5 6 0
1,014,219.
15,0 5 0 ,3 6 8 13.8 9 8 ,1 2 8
137,270
113,526
.124942522 105632547
5,9 2 2 ,6 3 7 5 ,4 9 1 ,5 2 7
9 67 ,334
1,0 5 9 ,9 1 3
499,546
4 74 ,6 7 9
226.595
193 ,832
188,555
171,261
90,707
67,697
1 ,4 5 8 ,0 3 9 1 ,218,381
8 0 ,3 9 0
85,429
4,S 66.659 4 ,0 7 2 ,1 5 9
114,364
1 16,988
416 ,400
4 2 9 ,7 3 7
75,1 1 6
5 1 ,8 2 6
76,1 4 6
6 2 ,7 3 9
,76,032,703 6 7 ,2 8 1 ,5 4 2
1 102,648
8 4,8 6 2
2,8 8 4 ,4 9 4 2 ,8 4 5 ,0 1 3
607,300
5 70 ,455
5 ,386,258 5 .0 1 3 ,8 5 8
706,339
5 19 ,643
6 ,8 7 2 ,7 8 5 6 ,5 0 6 ,7 0 1
226 .265
205 ,130
667 ,733
588,467

C u rren'
Y ear.

P rev iou s
Y ear.

1,0 9 1 ,2 8 8
36,919
136,482
38,193
4 ,3 9 9 ,9 0 0
762 ,006
55,7 0 0 ,2 1 3
25,394,412.
2 ,8 3 1 ,0 2 2
1,734,723
16,220,823
14,752,232
1,676,597
563 ,940
8 ,4 7 5 ,7 3 9
1.6 7 2 .7 7 2
6,030,278
6,3 4 6 ,1 9 4
79,1 4 1 ,5 4 9
i n c . 4,92
8,178 211
1 5 ,935,777
392,264
9 .8 3 7 .7 7 3
2,3 2 7 ,4 5 2

1 ,0 1 2 ,3 4 7
31,759
133 ,406
64,166
3 ,9 1 5 ,9 0 0
7 0 6 ,3 8 3
.50,608,446
3 4 ,1 9 1 ,5 2 8
2,9 5 8 ,6 1 8
1 ,312,341
1 4 ,7 3 8 ,1 1 4
1 3,5 0 5 ,8 8 2
1 ,7 0 6 ,1 9 3
564 ,114
8 ,3 6 2 ,9 2 9
1,5 1 7 ,7 9 1
5 ,6 9 4 ,7 2 2
5 ,4 7 5 ,7 9 4
09,8 2 6 ,8 4 9
0,300
7 ,513,411
4,1 5 2 ,5 5 9
305 ,036
7 ,8 2 1 ,8 6 9
. 2 ,1 7 0 ,5 5 2

AGGREGATES OF GROSS EARNIN GS— W eekly and M onthly.
M on th ly Sum m aries.
4 th
1st
2d
3d
4 th
1st
2d
3d
4 th
1st

w eek
w eek
w eek
w eek
w eek
week
w eek
w eek
w eek
w eek

M ay
June
June
June
Jun e
J u ly
J u ly
J u ly
J u ly
Aug

(47
(43
(44
(41
(42
(42
(43
(44
(42
(35

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 e a d s ).
r o a d s ).
r o a d s ).

O ur'nt Y e a r P r e v ’s Y ea r I n c . o r D ec.
1 6 ,473,009
1 0 ,439,372 ,
1 0 .8 0 8 .6 4 6 ’
1 0 ,6 4 8 ,1 0 1 1
14,309.499
9,5 6 5 ,2 5 3
1 0 ,4 5 2 ,143i
10,787,896
15^869,563
9 ,335,646]

14,403.490
9,0 1 6 ,9 0 5
9 ,2 4 7 ,6 1 0
9 ,317,171
1 2 ,909,684
8,5 8 7 ,1 4 0
9,4 2 1 ,8 9 6
9 ,747,003
1 3,9 4 7 ,9 7 7
8 ,5 9 0 ,5 1 5

+
+
+
+
+

2 ,069,519
1 ,422.467
1 ,561.036
1 ,330,930
1,399,815
+ '97 8 .1 1 3
+ 1 .060.247
+ 1,040,893
+ 1,921,586
+ 745,131

M o n th ly Su m m aries.
14.37
15.77
16.88
14.28
10.84
11.39
10.93

M on th
M on th
M on th
M onth
M onth
M on th
M on th
M o n th
M o n th
M o n th

O ct
N ov
D ec
Jan
F eb
M ch
A p ril
M ay
Ju n e
J u ly

1906
1906
1906
1907
1907
1907
1907
1907
1907
1907

(119 r o a d s ) .
(123 r o a d s ) .
(127 ? o a d s ).
(123 r o a d s ) .
(122 ro a d s).
(118 ro a d s ).
(118 r o a d s ) .
(121 ro a d s ).
( 66 r o a d s ) .
(65 roads) .

C u r’ nt Y e a r P r e v ’s Y ea r I n c . or D ec .
198 ,733 ,22 9
186 696,274
1 8 4 ,235 ,59 5
173 .212 .30 5
162 ,283 ,99 2
180 ,539 ,53 2
1 88 ,130 ,45 1
1 9 5 .943 .30 5
82,4 6 7 ,7 0 6
9 0,308,407

1 79 ,405 ,26 7
175,727,985
170 ,746 ,76 9
1 62 ,623 ,88 3
152 .555 ,19 1
1 6 4 ,645 ,00 9
154,81 j ,748
1 6 5 .890 ,34 5
7 2 ,9 2 3 ,6 8 3
8 0 ,9 8 2 ,3 0 5

19,327 ,962 10.77
10,971 ,289 6.2 4
13,488 820 7.30
10,588 ,422 6.51
+ 9,728 801 6.05
+ 15,894 ,523 9.65
+ 33,235 ,703 21 .4 5
10.68
+ 30,052 ,960 18.12
13.77
+ 9 ,5 4 4 023j 13.08
8 .6 3
+ 9,326 102111.52
a M exica n cu rre n cy , b In clu d es earnings o f G u lf & C h ica go D ivision ,
c In clu d e s th e H o u s to n & T e x a s Cen tral a n d its s u b sid ia ry Une3 in b oth
years,
d C ov ers lines d ire ctly o p e ra te d , c In clu d es th e C h ica go & E astern Illin ois in b o th years, f In clu d e s E v a n s v ille & In d ia n a B R . h In c lu d e s
earnings p f C ol. & S o u th ., F t. W o r th & D e n v e r C ity an d all a ffilia te d lin es, e x c e p tin g T r in ity & B razos V a lley R R .
K In clu d e s In b o th years ea ru la es
o f D en ver E u ld ‘ <s G u lf R R ., P e c o s S ystem an d San ta F e P r e s c o tt & P h o e n ix R y .
S




+
+
+
+

THE CHRONICLE.

400

Latest G ross Earnings b y W eek.— In the table which
follow s we sum u p separately the earnings for the first
week c f A u gust. The table covers 35 roads and shows
8 .6 3 % increase in the aggregate over the same week last year.
190 7.

F ir s t w eek o f A u g u s t.
B u ffa lo R o c h e s t e r & P itts b u r g h
C a n a d ia n N o r t h e r n __________
C a n a d ia n P a c i f i c _____________
C e n tra l o f G e o rg ia ____________
C h a t ta n o o g a S o u th e r n ---------C h ic a g o G rea t W e s t e r n ---------C h ic a g o In d ia n a p o lis & L o u is v .
D e n v e r & R io G ra n d e ________
D e tr o it & M a c k in a c __________
D u lu th S o Sh ore & A t l a n t i c ..
G ra n d T r u n k o f C a n a d a _____
G ra n d T ru n k W e s t e r n _____
D e tr o it G ra n d H a v e n & M iiw
C a n a d a A t la n t ic ____________
In te r n a tio n a l & G reat N o rth e rn
I o w a C e n t r a l ------------------------------L o u is v ille & N a s h v ille ___________
M id la n d V a l l e y --------------------------M in era l R a n g e ________________
M in n ea p olis & St L o u is --------------M in n ea p olis St P a u l & S S M ___
M issouri K a n sa s & T e x a s _______
M issou ri P a cific & Ir o n M o u n t . .
C en tral B r a n c h _______________
M o b ile & O h io ___________________
N e v a l a C a liforn ia & O re g o n ___
R i o G ra n de S o u th e r n ___________
S t L o u is S o u th w e s te r n --------------S o u th e rn R a ilw a y _______________
T e x a s & P a c ific __________________
T o le d o P e o r ia & W e s t e r n _______
T o le d o St L ou is & W e s t e r n ------W a b a s h ___________________________
W e s te rn M a r y la n d _______________
W h e e lin g & L a k e E r ie ___________
T o t a l (35 r o a d s )----------------------N e t in cre a s e ( 8 . 6 3 % ) ___________

1906.

$
161,983
196 .700
1,5 6 5 .0 0 0
2 1 7 ,1 0 0
3,568
158 ,140
117 ,284
4 4 2 .7 0 0
24,206
73,4 9 9

$
167,915
1 25 ,900
,399,000
218 ,400
3,019
162,751
121,004
389 ,2 0 0
24,7 6 0
58,237

925 ,346

869 ,037

112,000

1,300
549
4,611
3,720
5 3 ,500
lV , 262
[5 6 ,3 0 9
7.0 0 0
2,342
5 7 ,1 7 0
17,653
1,800
6,259
4,851
93,537
48,0 0 0
6.0 0 0
9,912
1,793

55 ,556
934 ,1 4 0
28,320
16,173
79,665
228 ,664
46 8 ,9 4 9
862 ,000
34 ,000
172 ,896
7,5 3 2
10 ,540
198,891
1,0 9 3 ,0 4 7
245 ,725
20,961
82,024
5 45 ,362
126,562
127 ,113
9 ,3 3 5 ,6 4 6

5,9 3 2
7 0 ,8 0 0
1 66,000

468
26",956
81,315
37,682
3,073
14,560
24,3 1 0
18,957
13,866
8 ,5 9 0 ,5 1 5

8 0 0 ,5 8 6
7 45 ,131

55,455

For the fourth week of July our final statement covers 42
roads and shows 13.77% increase in the aggregate over the
same week last year.
I n crea se.

D ecrea se.

$
$
$
P r e v io u s ly 'r e p o r t e d (39 ro a d s) . 15 ,6 0 9 ,4 1 9 1 3 ,7 0 5 ,8 6 6 1 ,9 4 0 ,0 5 8
128,501
5,215
D e tr o it T o le d o & I r o n t o n ___ . .
123,286
57,087
10,139
67,226
G eorg ia S ou th ern & F lo r id a ____
2,679
64,417
6 1 ,738
G u lf & S h ip I s l a n d - . . . - ____

S
36,505

T o t a l (42 r o a d s ) ______ . . — 1 5 ,8 6 9 ,5 6 3 1 3 ,9 4 7 ,9 7 7 1 ,958,091
1 ,9 2 1 ,5 8 6
N et in crea se ( 1 3 .7 7 % ) ________

36,505

F o u rth w eek o f J u ly .

190 7.

1 90 6.

Net Earnings M onthly to Latest D ates.— The table fol­
low ing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which m onthly returns can be obtained, is given
once a m onth in these colum ns, and the latest statement of
this kind will be found in the issue o f July 20 1907. The
next will appear in the issue of August 24.
--------G ross E a rn os-------C u rren t
P r e v io u s
Y ear
Y ea r.
$
$
154 ,7 8 3
107 .7 8 2
1 ,5 9 5 ,8 6 6
1 ,1 2 8 ,3 2 7
7 ,2 5 1 ,9 0 3
6 ,5 4 4 ,8 4 6
2 6 4 ,6 4 4
2 1 6 ,5 1 6
3 ,2 2 1 ,6 9 3
2 ,4 9 6 ,7 8 4
5,531
3,7 7 5
3 6 ,9 1 9
3 1 ,759

--------N et E a rn in g s-------C u rren t
P rev io u s
Y ea r.
Y ea r.
$
$
4 1 ,9 7 9
34,756
3 8 6 ,0 5 7
298 ,587
2 ,3 0 4 ,5 8 8
2 ,1 9 6 ,8 5 9
9 7 ,6 9 8
86,052
1 ,0 8 8 ,3 9 0
951 ,873
2 ,1 6 5
74
1 1 ,782
5,539

R oad s.
A t la n t a B irm & A t i .a - - J u n e
J u ly 1 t o Ju n e 3 0 _______
B a lt im o r e & O h i o . b ____ J u ly
B a n g o r & A r o o s t o o k .b .J u n e
J u ly 1 t o Ju n e 3 0 _______
B e lle fo n te C e n t r a l . b - - - J u l y
J a n 1 t o J u ly 3 1 - ...........
B o s t o n & A lb a n y _ b —
A p r 1 t o Jun e 3 0 _______ 3 ,1 2 6 ,6 9 9
2 ,7 8 5 ,1 0 2
5 6 2 ,0 7 6
995 ,919
J an 1 t o Ju n e 3 0 _______ 5 ,8 1 2 ,0 0 0
5 ,4 2 0 ,1 1 2
845 ,717
1 ,7 3 7 ,6 0 8
J u ly 1 t ,:un e 3 0 _______ 1 2 ,0 9 7 ,3 0 1 1 1 ,2 0 5 ,0 7 4
1 ,9 4 3 ,1 0 4
3,7 4 6 ,4 5 1
B r id g e to n & S ..co R l v . b J u n e
4 ,4 8 4
4 ,6 7 5
1,3 5 0
2,031
J u ly 1 t o Ju n e 3 0 _______
4 7 ,0 5 0
4 7 ,5 6 8
13,6 7 6
15,214
C u y a h o g a T e le p h o n e C o .J u n e
6 4 ,4 3 3
59,6 3 2
2 9 ,6 3 2
24,573
D e l L a ck & W e s t — L e a se d lines In N Y S ta te —
A p r 1 t o Ju n e 3 0 _______ 3 ,2 4 9 ,1 7 4
2 ,4 2 7 ,7 1 3
1 ,6 7 5 ,7 3 4
981 ,1 1 9
Jan 1 t o Ju n e 3 0 _______ 6 ,2 8 1 ,2 7 6
5 ,1 1 1 ,5 7 7
3 ,2 8 3 ,8 6 8
2 ,361,441
J u ly 1 t o Ju n e 3 0 _______ 1 2 ,8 4 4 ,5 0 6 1 1 ,0 3 3 ,0 5 5
6 ,8 8 0 ,8 5 2
5 ,3 0 2 ,5 7 8
S y r a c u s e B n g h a m to n & N Y . b — •
A p r 1 t o Ju n e 3 0 _______
4 0 7 ,6 1 7
349 ,5 3 5
177,391
86,691
J a n 1 t o Ju n e 3 0 _______
7 3 0 ,2 8 4
6 6 3 ,8 5 2
3 1 9 ,7 2 8
233,281
J u ly 1 t o Ju n e 3 0 _______ 1 ,5 0 0 ,8 8 4
1 ,3 8 9 ,8 2 2
589 ,4 7 3
510,841
D u n k ir k A lle g h V a il & P i t t s .b —
A p r 1 t o Jun e 3 0 _______
6 2 ,5 6 8
6 6 ,0 2 5
d e f l2 ,0 7 8
d e f l6 ,1 2 0
Jan 1 t o Ju n e 3 0 _______
1 24 ,914
1 28 ,825
d e f l,2 1 0
d e fl3 ,9 5 9
2 8 6 ,3 5 5
302 ,1 2 5
1 0 ,086
1,468
J u ly 1 t o Ju n e 3 0 _______
E d is o n E lC o (B r o c k t o n )a Ju n e
1 4 ,172
11,341
5,4763,824
J a n 1 t o Ju n e 3 0 _______
9 1 ,2 7 9
7 8 ,8 6 2
3 6 ,2 5 6
23,873
F a ll R iv e r G as W k s . a . . J u n e
2 9 ,3 9 7
28,331
11,3 0 9
10,367
J a n 1 t o Ju n e 3 0 _______
1 8 1 ,9 1 0
1 6 3 ,5 7 3
6 4 ,5 0 7
58,922
G enesee & W y o m in g _b—
A p r 1 t o Ju n e 3 0 _______
3 8 ,3 8 5
4 9 ,1 3 3
2 0 ,780
13,555
5 8 ,0 2 0
7 6 ,9 4 8
26,072
16,692
Jan 1 t o Ju n e 3 0 .............
J u ly 1 t o Ju n e 3 0 _______
129 ,0 2 2
1 60 ,014
4 5 ,2 7 4
48,1 4 7
G reen w ich & J o h n s o n v U le .b —
A p r 1 t o Ju n e 3 0 _______
24,881
17,961
10,398
6,689
J a n 1 t o Ju n e 3 0 _______
4 5 ,9 5 9
35,051
17,4 5 7
12,322
J u ly 1 t o Ju n e 3 0 _______
9 1 ,1 6 0
7 3 ,0 1 9
3 2 ,6 6 2
26,133
H o u g h t o n C o E l L t C o .a Ju n e
15,571
14,4 6 7
5 ,4 0 8
5,359
Jan 1 t o Ju n e 3 0 .............
121 ,6 8 2
1 1 0 ,6 2 6
5 8 ,7 0 4
54,969
I n t e r o c e a n ic o f M e x ic o .J u n e
6 2 0 ,6 8 9
6 2 0 ,6 6 2
1 5 6 ,0 4 6
146 ,632
J u ly 1 t o Ju n e 3 0 _______ 7 ,1 9 2 ,9 2 3
6 ,4 6 0 ,3 2 7
1 ,8 9 5 ,4 6 5
1 ,8 8 5 ,8 4 9
L eh ig h V a l l e y . b ________ Ju n e 3 ,3 4 8 ,3 9 3
3 ,1 7 2 ,8 6 3
o l , 3 7 0 ,0 9 9 0 1 ,6 2 3 ,9 5 9
J u ly 1 t o Ju n e 3 0 _______ 3 6 ,0 6 8 ,4 2 9 3 2 ,7 8 9 ,8 5 6 o l3 ,9 5 4 ,1 7 8 o l2 ,6 3 7 ,6 4 6
L it t le F a lls & D o lg e v l l le .b —
A p r 1 t o Ju n e 3 0 _______
14,111
13,2 2 6
4.7 9 7
3,327
J a n 1 t o Ju n e 3 0 _______
26,891
26,7 7 6
11,1 1 9
8,271
5 8 ,9 7 9
55,1 8 5
2 5 ,3 3 7
20,204
J u ly 1 t o Ju n e 3 0 ----------L o n g Isla n d R R . b ...........Ju n e
D ec.
7 ,7 0 4
D e c . 62,367
J u ly 1 t o Jun e 3 0 _______
I n c . 8 7 9 ,4 6 8
I n c . 1 5 1 ,3 4 6
L o n g Isla n d R R . b —
A p r 1 t o Ju n e 3 0 ............. 2 ,7 9 8 ,0 4 8
2 ,7 6 8 ,9 9 1
6 4 4 ,8 2 9
738 ,733
J a n 1 t o Ju n e 3 0 _______ 4 ,4 6 7 ,0 9 9
4 ,1 7 3 ,6 1 3
4 1 0 ,7 5 0
575 ,097
J u ly 1 t o Ju n e 3 0 . ........... 9 ,8 8 9 ,0 8 0
8 ,6 4 6 ,8 7 3
1 ,9 5 0 ,0 8 7
1 ,5 7 3 ,5 5 0
L o w e ll E lec L t C o r p . a . - J u n e
23,401
19,734
7,021
4 ,3 8 5
Jan 1 t o Ju n e 3 0 .............
151,961
134 ,023
53.0 1 3
4 5 ,9 1 8




[V o l . l x x x t .

--------G ross E a r n ’gs-------- --------N et E a rn in g s-------C u rren t
P r e v io u s
C u rren t
P rev iou s
Y ear.
Y ea r.
Y ea r. Y ear.
R oads.
$
$
$
S
M e x ica n I n t e r n a t io n a l..J u n e
8 3 8 ,4 3 2
650,881
290 ,501
2 0 2 ,8 7 9
J u ly 1 t o Ju n e 3 0 _______ 8 ,5 7 2 ,7 6 6 7 ,3 1 4 ,2 0 5
2 ,8 6 6 ,4 0 2
3 ,1 3 6 ,7 5 5
M in n eap olis G en E l e c .a .J u n e
6 8 ,5 7 3
58,3 0 3
3 5 ,133
25,7 9 0
J a n 1 t o Ju n e 3 0 _______
4 4 7 ,5 2 5
3 8 7 ,6 2 7
2 1 3 ,4 3 0
194,721
M issou ri K a n & T e x - a - - J u n e 2 ,1 1 3 ,1 6 1
1,6 1 9 ,4 8 1
6 0 7 ,3 0 2
4 5 7 ,2 8 3
J u ly 1 t o J u n e 3 0 _______ 2 6 ,1 8 3 ,9 5 4 2 1 ,1 5 9 ,1 4 0
8 ,5 0 8 ,5 0 7
5 ,7 4 4 ,5 9 8
N a s h v C h a t t & S t L . b . . Jun e 1 ,1 1 3 ,7 9 4 1 ,1 2 8 ,5 1 9
2 09 ,985
286,912
2 ,5 0 8 ,3 0 9
2 ,7 6 6 ,0 6 8
J u ly 1 t o Ju n e 3 0 _______ 1 2 ,2 3 8 ,4 0 9 1 1 ,1 2 0 ,9 8 0
N a tio n a l R R o f M e x ic o .J u n e 1 ,4 0 6 ,3 2 7 1 ,3 8 0 ,5 1 8
5 1 6 ,2 2 5
5 48 ,593
J u ly 1 t o Ju n e 3 0 _______ 1 5 ,8 7 4 ,6 6 6 1 4 ,0 3 9 ,3 0 0
5 ,7 2 2 ,8 3 1
5 ,4 1 3 ,2 5 2
H id a lg o & N o r th e a s t-J u n e
7 6 ,0 7 3
9 2 ,0 0 9
10,7 3 8
3 5 ,0 6 9
J u ly 1 t o Ju n e 3 0 _______
9 86 ,336
_______
2 4 9 ,8 2 6
.............
N ew L o n d o n N o rth e rn _b—
A p r 1 t o Jun e 3 0 _______
2 6 6 ,2 2 2
2 8 4 ,4 9 0
d e f3 2 3
14,336
Jan 1 t o Jun e 3 0 _______
481 ,261
5 42 ,016
d e f2 5 ,3 0 0 d e f3 2 ,7 2 5
J u ly 1 t o Ju n e 3 0 _______ 1 ,0 4 9 ,1 2 9 1 ,1 0 4 ,7 2 5
4 6 ,7 3 5
87,351
N Y O n ta rio & W e s t -a - J u n e
7 2 6 ,2 4 6
7 0 2 ,4 7 3
195 ,3 9 5
2 7 5 ,8 5 4
J u ly 1 t o June 3 0 _______ 8 ,2 0 2 ,3 6 1 7 ,2 6 5 ,0 5 7
2 ,5 5 8 ,0 1 5
2 ,0 3 1 ,7 7 0
N ew Y o rk & O tta w a -b —
A p r 1 t o Ju n e 3 0 . ______
4 1 ,1 6 4
39,661
3 ,6 7 9
320
J an 1 t o Jun e 3 0 _______
7 2 ,5 3 2
6 8 ,292
3,6 8 8
d ef751
N Y & R o c k a w a y B e a c h .b —
145 ,3 0 7
133 ,3 2 8
4 6 ,5 0 9
3 4 ,078
A p r 1 t o Ju n e 3 0 _______
J a n 1 t o J u n e 3 0 _______
1 8 5 ,7 2 5
1 6 4 ,2 6 9
5 ,0 5 7
d e f4 ,7 1 0
J u ly 1 t o Ju n e 3 0 _______
6 0 4 ,0 1 0
4 8 0 ,2 1 7
176,561
113,097
P a c ific C o a s t ____________ Ju n e
7 3 0 ,2 7 0
4 8 8 ,0 4 6
107 ,013
113 ,093
1 ,4 1 9 ,8 8 0
1 ,3 7 2 ,4 1 8
J u ly 1 t o Ju n e 3 0 _______ 7 ,4 0 6 ,4 9 1 6 ,3 0 8 ,4 0 8
R u tla n d R R . b —
A p r 1 t o Jun e 3 0 _______
7 9 2 ,6 5 8
6 9 2 ,6 1 7
227 ,402
219,701
Jim 1 t o Jun e 3 0 _______ 1 ,3 8 6 ,4 9 7 1 ,2 6 7 ,8 6 8
3 8 2 ,9 1 8
398 ,9 4 6
J u ly 1 t o Jun e 3 0 _______ 2 ,9 1 7 ,8 3 7 2 ,6 8 7 ,6 6 4
805 ,0 8 6
8 85 ,859
S t L a w re n ce & A d ir o n d a c k .b —
A p r 1 t o Ju n e 3 0 _______
102,791
89,6 0 2
3 7 ,0 5 9
3 9 ,1 3 0
J an 1 t o Jun e 3 0 _______
198 ,536
170,951
82,8 2 6
86,356
J u ly 1 t o Jun e 3 0 _______
3 9 7 ,3 8 8
3 3 9 ,2 3 2
165 ,2 0 6
1 54 ,998
T o l P e o r ia & W e s t . b - - - J u n e
1 29 ,556
1 0 0 ,9 5 6
4 1 ,3 6 3
18,035
J u ly 1 t o Jun e 3 0 _______ 1 ,3 0 0 ,2 1 2 1 ,2 9 3 ,3 9 0
289,151
253 ,9 5 9
9 3 ,4 0 3
9 9 ,1 0 0
1 3 ,3 1 0
20,551
J u l y _____________________
U S T e le p h o n e C o . ...........Ju n e
35,491
3 3 ,5 9 4
2 1 ,8 0 8
2 0 ,835
J an 1 t o Jun e 3 0 _______
2 3 4 ,0 3 8
221 ,0 3 3
1 35 ,284
127 ,416
2 ,3 2 1 ,3 4 1
7 9 1 ,5 5 8
8 0 2 ,7 1 3
W a b a s h . b - ................... . . J u n e 2 ,4 9 3 ,7 9 5
J u ly 1 t o J u n e 3 0 _______ 2 7 ,4 3 2 ,4 6 7 2 5 ,0 1 5 ,3 7 8
7 ,9 2 7 ,3 2 7
6 ,9 3 7 ,4 9 6
W y o m in g V a l G as & E l a Ju n e
1 2 ,9 0 7
11,935
4,4 8 3
4 ,3 2 9
J an 1 t o Ju n e 3 0 _______
8 6 ,5 7 0
________
36,3 3 2
2 6 ,2 1 0
a N et ea rn in gs here g iv e n are a fte r d e d u c t in g t a x e s ,
b N et e a rn in g s here g iv e n are b e fo r e d e d u c t in g ta x e s .
o I n c lu d in g o t h e r in c o m e , t o t a l in c o m e (e x c lu s iv e o f resu lts o f c o a l c o m ­
p an ies) fo r Jun e is $ 1 ,4 3 1 ,4 0 5 in 190 7, a gain st $ 2 ,0 1 2 ,9 4 6 In 190 6, an d fo r
p e r io d fro m J u ly 1 t o Ju n e 30 is $ 1 4 ,8 9 9 ,3 1 6 in 190 7, a g a in st $ 1 3 ,4 4 6 ,4 9 8
in 1906.

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 beow those charges.
— I n t ., R en tals, & c .—
— B a l. o f N e t E n g s .—
C u rrent
P r e v io u s
C u rren t
P reviou s
Y ea r.
Y ea r.
Y ea r. Y ea r.
$
$
$
$
7 0 ,1 7 2
6 1 ,7 7 2
27,5 2 6
24,280
7 9 7 ,0 7 5
6 6 5 ,2 8 3
2 9 1 ,3 1 5 - 2 8 6 ,5 9 0
303
300
1,862
d c f. 226
2,121
2 ,1 0 0
9,661
3,4 3 9

R oads
B angor & A roostook . ..J u n e
J u ly 1 t o Jun e 3 0 _______
B e lle fo n te C e n tr a l-----------J u ly
J a n 1 t o J u ly 3 1 _______
B o s to n & A lb a n y —
A p r 1 t o Ju n e 3 0 _______
862 ,7 9 3
9 2 8 ,6 1 6 * d e fl8 9 ,0 8 3
* 1 7 5 ,5 7 4
J an 1 t o Jun e 3 0 _______ 1 ,7 4 8 ,1 2 3
1 ,8 7 0 ,1 6 1 * d e f6 9 4 .5 2 8
* 7 7 ,8 3 9
J u ly 1 t o Ju n e 3 0 _______ 3 ,5 5 7 ,7 9 6
3 ,8 5 1 ,0 6 8 * d fl,2 2 2 ,5 5 1
* 3 1 0 ,8 0 2
B r id g e to n & S a c o R iv e r .J u n e
543
543
807
1,488
J u ly 1 t o Ju n e 3 0 _______
6,5 1 6
6 ,5 1 6
7 ,1 6 0
8,6 9 8
C u y a h o g a T e le p h o n e C o .J u n e
18,437
1 7 ,868
1 1 ,195 6 ,7 0 5
D e l L a c k & W e s t — L e a se d lin es in N Y S ta te —
A p r 1 t o Ju n e 3 0 _______
6 0 9 ,6 6 8
-615,231
1 ,0 6 6 ,0 6 6
3 6 5 ,8 8 8
J a n 1 t o Ju n e 3 0 _______ 1 ,2 2 4 ,4 3 5
1 ,2 3 0 ,4 6 2
2 ,0 5 9 ,4 3 3
1 ,1 3 0 ,9 7 9
2 ,4 4 8 ,7 7 0
4 ,4 2 2 ,9 6 3
2 ,8 5 3 ,8 0 8
J u ly 1 t o Ju n e 3 0 _______ 2 ,4 5 7 ,8 8 9
S y ra cu s e B in g h a m to n & N Y —
A p r 1 t o June 3 0 _______
2 8 ,475
4 6 ,0 7 7
148 ,916
40,6 1 4
Jan 1 t o Ju n e 3 0 _______
5 7 ,7 5 0
92,3 6 2
2 6 1 ,9 7 8
140 ,919
1 3 3 ,3 2 0
1 8 8 ,6 2 7
4 5 6 ,1 5 3
3 2 2 ,2 1 4
J u ly 1 t o Ju n e 3 0 _______
D u n k irk A lle g h V a l & P itts —
A p r 1 t o Ju n e 3 0 _______
3 ,5 4 6
3,5 4 6 * d e f l5 ,4 6 4 * d e f l9 ,5 4 6
Jan 1 t o Ju n e 3 0 _______
7 ,0 9 2
7 ,0 9 2
*rtef8,022 * d e f2 0 ,7 9 6
J u ly 1 t o Ju n e 3 0 _______
1 3 ,5 5 9
12,847
* d e f2 ,9 5 1 * d e flO ,6 S 4
E d iso n El C o (B r o c k t o n ) Jun e
1,411
741
4,0 6 5
3,0 8 3
J a n 1 t o Ju n e 3 0 _______
4 ,9 9 0
4 ,3 8 6
3 1 ,2 6 6
19,4 8 7
F a ll R iv e r G as W o r k s ..J u n e
196
514
1 1 ,113
9,853
J an 1 t o Ju n e 3 0 _______
883
3,6 9 2
6 3 ,6 2 4
5 5 ,230
G enesee & W y o m in g —
A p r 1 t o Ju n e 3 0 .............
6 ,9 2 5
7 ,0 0 0
13,855
6,5 5 5
J an 1 t o Ju n e 3 0 _______
13,561
14,419
12,511 2,273
J u ly 1 t o Ju n e 3 0 _______
27,561
2 8 ,1 1 9
1 7 ,713
2 0 ,0 2 8
G re e n w ich & J o h n s o n v ille —
A p r 1 t o Ju n e 3 0 .............
6 ,1 3 3
4 ,6 0 0
2:4,687
* 2 ,2 5 4
J an 1 t o Ju n e 3 0 .............
1 0 ,833
9 ,2 0 0
* 7 ,3 5 9
* 3 ,6 3 8
J u ly 1 t o Jun e 3 0 _______
2 0 ,2 3 3
1 8 ,400
* 1 3 ,6 8 7
* 9 ,1 1 2
H o u g h to n C o FI L t C o . . J u n e
2 ,1 8 8
2,187
3 ,2 2 0 3,172
J a n 1 t o Ju n e 3 0 _______
15,001
15,000
4 3 ,703
3 9 ,969
L ittle F alls & D o lg e v ille —
2 .5 1 5
2,3 2 5
* 2 ,5 2 5
1,002
A p r 1 t o Jun e 3 0 _______
J a n 1 t o Ju n e 3 0 _______
5 ,0 3 6
4 ,8 7 5
* 6 ,4 9 1
3 ,3 9 6
J u ly 1 t o Jun e 3 0 _______
10.136
9 .9 7 5
* 1 5 ,6 0 9
10,2 2 9
L o n g Is la n d R R —
A p r 1 t o Ju n e 3 0 .............
6 5 5 ,8 4 3
6 2 5 ,7 7 2
* 7 1 ,1 9 0
*1 5 0 ,6 5 2
J a n 1 t o Jun e 3 0 _______ 1 ,2 3 6 ,5 1 1
1 ,1 3 2 ,2 1 2 * d e f6 9 2 ,0 6 1 * d e f4 2 6 ,5 7 5
J u ly 1 t o Jun e 3 0 _______ 2 ,6 9 2 ,7 4 7
2 ,2 9 5 ,8 3 6 * d e f4 9 0 ,4 7 9 * d e f3 2 3 ,7 6 9
L o w e ll E le c L t C o r p ____ Ju n e
529
657
6,4 9 2
3 ,7 2 8
Jan 1 t o Ju n e 3 0 _______ '
6 ,1 5 0
5 ,8 5 8
4 6 ,8 6 3
4 0 .060
M in n e a p o lis G en E le c t . .J u n e
2 1 .2 0 8
8,9 0 8
13,925
16,882
J an 1 t o Jun e 3 0 _______
1 09 ,390
5 3 ,7 3 2
1 04 ,040
1 40 ,989
M issouri K a n & T e x a s .- J u n e
4 2 3 ,7 6 4
382,471
183,538
7 4 ,8 1 2
J u ly 1 t o Ju n e 3 0 ............. 5 ,0 0 3 .3 3 6
4 ,5 0 0 ,5 4 4
3 ,5 0 5 ,1 7 1
1 ,2 4 4 ,0 5 4
N a sh v ille C h att & St L .J u n e
151 ,844
1 53 ,025
58,141
1 33 ,887
1 ,7 9 4 ,5 3 1
713 ,981
9 7 1 ,5 3 7
J u ly 1 t o Ju n e 3 0 ............. 1 ,7 9 4 ,3 2 8
N e w L o n d o n N o rth e r n —
A p r 1 t o Ju n e 3 0 . ...........
6 3 ,7 5 3
64,871 * d e f4 4 ,2 4 1 * d e f4 4 ,9 6 5
J a n 1 t o Ju n e 3 0 _______
1 2 6 ,8 4 2
1 2 7 .9 6 6 * d e fl2 5 ,8 6 9 * d e fl4 9 ,1 3 1
J u ly 1 t o Jun e 3 0 _______
2 5 2 ,4 9 8
2 5 3 ,7 0 6 * d e fl6 8 ,0 1 8 * d e fl4 2 ,9 9 1
N Y O n ta r io & W e s t . . . J u n e
80,501
67,2 6 4
114 ,894
2 0 8 ,5 9 0
J u ly 1 t o Jun e 3 0 _______
9 0 3 ,2 3 2
8 4 4 ,2 7 0
1 ,6 5 4 ,7 8 3
1 ,1 8 7 ,5 0 0
N ew Y o r k & O tta w a —
A p r 1 t o Jun e 3 0 .............
14,911
14,810 * d e f l0 ,7 2 0 * d e f l 4 , 003
J an 1 t o Jun e 3 0 _______
29,191
2 9 ,0 9 0 * d e f2 4 ,5 6 9 * d e f2 9 ,0 0 2
N e w Y o r k & R o c k a w a y B e a ch —
.
A p r 1 t o Ju n e 3 0 _______
2 3 ,8 9 6
19,4 8 4
* 2 3 ,5 0 6
*1 5 ,4 2 1
Jan 1 t o Jun e 3 0 _______
3 8 ,9 5 4
3 4 ,205 * d e f 3 1 ,588 * d ef3 C ,6 8 8
J u ly 1 t o Jun e 3 0 .............
8 1 ,004
1 63 ,064
* 1 0 2 ,9 7 8 * d e f 4 6 ,440

THE CHRONICLE.

A u g . 17 1907.1

R oads.
R u tla n d R R —
A p r 1 t o Ju n e 3 0 _______
Jan 1 t o Ju n e 3 0 _______
J u ly 1 t o Jun e 3 0 _______
St L a w ren ce & A d ir o n d a c k —
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 ----------T o le d o P eoria & W e s t -- J u n e
J u ly 1 t o Ju n e 3 0 _______
J u l y .................... ...................
U S T e le p h o n e C o _______ Ju n e
Jan 1 t o Ju n e 3 0 _______
W y o m in g V a il G as & E le c —
J an 1 t o Ju n e 3 0 _______

— I n t ., R en tals, & c .—
C u rrent
P rev io u s
Y ea r.
Y ea r.
S
S

— B a l. o f N et E n gs .—
C u rren t
P rev io u s
Y ear.
Y ea r.
$

185 ,448
3 68 ,707
7 33 ,7 9 2

179,321
331 ,2 5 0
6 35 ,047

* 5 3 ,9 1 5
* 3 8 ,2 0 6
* 1 2 0 ,4 5 3

* 5 2 ,9 0 4
*9 2 ,4 8 1
* 3 0 0 ,7 2 6

19,5 2 9
3 8 ,699
79,1 6 5
21,6 3 4
287 ,4 7 9
23,926
13,610
82,0 4 8

18,624
38,349
78,0 8 7
2 1 ,567
2 7 5 ,6 0 0
23,968
12,688
7 7 ,197

* 1 7 ,8 6 5
*4 5 ,0 4 7
* 8 7 ,4 8 2
19,7 2 9
1,672
* d e f3 ,1 1 6
8,1 9 8
5 3 ,236

* 2 0 ,7 3 4
* 4 8 ,5 4 9
* 7 8 ,0 4 8
d e f3 ,5 3 2
d e f 2 1 ,641
d e f3 ,4 1 7
8,1 4 7
5 0 ,219

27,7 7 5

27,775

8,557

d e f l ,565

--------G ross E a rn 'g s-------------------N et E a rn in g s-------C u rren t
P r e v io u s
C u rren t
P r e v io u s
Y ea r.
Y ear.
Y ea r.
Y ear.
R oads.
$
s
$
$
J a c k s o n v ille E le c C o .a .J u n e
3 4 ,162
26,8 4 6
1 3 ,0 6 8
1 0 ,2 4 8
1 9 2 ,3 9 9
152 ,101
6 7 ,7 6 3
5 7 ,6 8 2
Jan 1 t o Ju n e 3 0 _______
P u g e t S o u n d E l C o . a ___ Ju n e
1 4 7 ,1 9 9
1 16 ,794
5 8 ,9 3 6
3 8 ,1 6 5
S a v a n n a h E le c C o . a ___ Ju n e
5 1 ,8 3 6
58,2 2 4
18,4 3 7
2 8 ,0 5 9
Jan 1 t o Ju n e 3 0 . ...........
283 ,6 3 7
3 0 4 ,0 0 8
9 4 ,9 0 9
1 2 1 ,2 1 7
T r o y & N ew E n g la n d -b —
A p ril 1 t o Jun e 3 0 _______
8 ,2 9 9
7 ,8 1 7
d e f6 2 5
2 ,6 3 4
Jan 1 t o Jun e 3 0 _______
1 2 ,209
1 0 ,249
177
3 ,2 1 5
J u ly 1 t o Jun e 3 0 . ...........
3 3 ,4 7 2
3 1 ,7 8 8
2 ,4 5 6
10,281
W h a t c o m C o R y & L tC o aJ u n e
2 7 ,3 6 2
2 0 ,3 1 0
1 0 ,588
6 ,3 4 5
J a n 1 t o Ju n e 3 0 _______
1 6 4 ,4 2 8
1 2 5 ,7 6 7
6 5 ,8 9 3
3 6 ,9 7 8
a N et e a rn in gs here g iv e n are a fte r d e d u c t in g t a x e s .
b N et e a rn in gs here giv e n are b e fo r e d e d u c t in g ta x e s .

Interest Charges and Surplus.

* A ft e r a llo w in g fo r o th e r In com e re c e iv e d .

STREET R A IL W A Y S AN D TRACTION COMPANIES.
Latest G ross E a rn in g s.
N a m e of
R oad.

; W eek or
| M o n th .

a A m e r ic a n R y s C o ___ J u ly _______
c A u r E lgin & C h ic R y J u n e ______
B in g h a m to n R y ______A p r i l _______
BIrm R y L t & P o w e r J u n e ______
B r o c k t o n & P ly St R y J u n e ______
C ape B re to n E le c C o _ ( J u n e ______
C en tral P en n T r a c — IJ u n e ______
Chari C on R y Gas&E1; J u n e ______
C h ic a g o & MIlw E le c - J u ly _____
d C h ica g o & O ak P a rk J u ly
C leve P a in esv ille & E Jun e
C leve S o u th w & C o l ._ June
D e tr o it J a ck so n & Chi 1st w k A u g
T D e tr o it U n ite d R y . 1st w k A u g
D u lu th Street R y — 1st w k A u g
E a st S t L ou is & S u b - Jun e
E l P a so E le c t r ic _____ Jun e
F t W a yn e & W abash
V a lle y T r a c t io n — June
G a lv e sto n E le c tr ic C o Ju n e
G eorgia R y & E lectric M ay
H a v a n a E le c tr ic R y _ W k A u g 11
H o n o lu lu R a p id T r &
J u n e ______
L a n d Co
H o u g h t o n jp o St R y - - J u n e ______
J u n e ______
H o u s to n E le c tr ic
Illin ois T r a c tio n C o . . J u n e ______
J a ck s on C on sol T r a c . M a y ______
J a c k s o n v ille E le c C o . J u n e ______
K a n C ity R y & L ig h t J u n e ______
L e x & In ter R y s C o . . J u n e _____
M et W e s t Side E l e v . . Ju ly _____
M llw E lec R y & L t C o i J u n e ______
M llw L t H t & T r a c C o J u n e ____
M on trea l Street R y - - W k A u g 10
N a sh ville R y & L ig h t J u n e ______
N J & H R R y & F y C o l J u n e _____
N O R y & L ig h t C o . . J u n e ...........
N o r O h io T r a c & L t . - ! J u n e ______
N o r f & P o rtsm T r C o J u n e ______
N o W estch este r L t C o l J u n e ______
N orth w estern E lev . . j J u l y ______
O k la h om a C ity R y _ . J u n e ______
P eelisklll L ig h t & R R J u n e ______
P u g e t S ou n d E le c R y J u n e ______
R io d e J an eiro T ram j
L ig h t & P o w e r _____ J u n e ______
R o c k fo r d & In te ru rb M a y ______
S t J osep h (M o) R y Lt
H eat & P o w e r Co_ - Ju n e
S a o P a u lo T r L t & P . J u n e ______
S a v a n n a h E le c tr ic C o J u n e ______
S o u th Side E le v a t e d . J u ly
Sou W isco n s in R y Co J u n e _____
S yra cu se R a p T r R y . J u n e ...........
T a m p a E lectric C o - . A p r i l ______
T o le d o R y s & L ig h t . M ay ______
T o r o n t o R a ilw a y ____ W k A u g 10
T w in C ity R a p T r a n . 4th w k J u ly
U n ite d R R o f San F r . J u n e ______
U n ited R y s o f S t L . _ Ju n e
W e s t C h ester R y ____ Ju n e
W h a t c o m C o R y & L t J u n e ______

C u rren t
Y ea r.
$
302 ,034
136 ,909
20,240
160 ,470
12,360;
2 0,686
66,326
62,784'
117,096!
67,747|
27,387
67,965
7,688;
142 ,185
17,852,
183,067
41,030,

J a n . 1 to latest date.

P rev io u s
Y ea r.
276 ,275
113.154
22,011
156 ,573
10,808
21;302
61,869
55,612
97,425
6 6 ,048
27,257
59,058
129,932
16,791
163,019
32,183

C u rrent
Y ea r.

1 P rev iou s
;
Y ea r.

$
$
1 ,670,003! 1 ,5 2 7 ,6 0 5
5 43 ,626
631 ,708
85,886
83,413
1,0 3 2 ,7 8 7 !
902,541
48 ,456
43,811
115 ,298
108,2121
3 47 ,610
316 ,617
314,793
343 ,454
5 51 ,604
42 9 ,2 9 7
4 9 6 ,5 2 9
491 .2 8 6
123,187
113,887
289 ,2 7 7
338 ,686
620 3,85 6
3 ,8 6 9 ,8 8 4 3,454",479
487,4911
4 4 7 ,9 4 0
896 ,157
997,817}
233,672! ^180,822

107,307
569,277!
93,648
170,306;
36,521
32,165
271,213; 233.155
3 7 ,850|
30,395j 1 ,0 6 8 ,1 6 8
3 1,1 5 0 i
2 2 ,4 3 7 j
59,076!
307 ,119
12,613
34,162;
515 ,816
45.475J
210,457!
324 ,626
77,762
70,529]
127,552
4 8,668.
492 ,653
182,242.
254,247;
7,891
141,890!
25,639!
16,513
147.1991
521,142!
49,193
76,506
162,971;
51,836;
173.496!
14,007!
103,0831
42,3831
173,990
67,837
180 ,698
h i 52,126
9 61 ,189
12,308
27,362

29,237;
20 .1511
51,158;
239,988;
12,170,
26,846,
457,788!
47,508
191 ,223
295,947;
65,672
6 6,808
112,930
44,272;
446,278|
159,733
150,750,
7,170!
113 ,627
16,678
1 5,219
116,794!

181 ,565
114 ,162
3 17 ,350
1 ,7 0 6 ,3 1 7
5 3,882
192,399
2,867,9731
249 ,695
1,591,251
1,826,9871
344,126;

937,411
169,927
100 ,088
274 ,180
1 ,3 6 2 ,8 7 0
5 1 ,377
152,101
2 ,5 7 6 ,5 8 8
231,641
1,4 1 5 ,3 6 4
1 ,651,865
292 ,8 2 2

64¥, 5 40
735*986
209 ,223 !
188 ,943
3 .0 6 6 ,1 5 5 2 ,8 9 9 ,0 8 8
849 ,257 j
751 ,939
7 8 8 ,2 1 4
1,100,1801
51,710;
4 2 ,4 8 0
971,354|
861 ,806
115,386
76,065
65,976
75,824;

2 ,9 2 3 .9 8 6
214 ,002
4 0,848,
72,331
164 ,138
58,224
143.833
12,119
88,936;
36,937
167 ,847
62,409;
170,776;
448,455;
899,073;
7,576
20,310!

4 91 ,886
B139.462

183 ,683

392 ,727
405,689!
986 ,927
1,0 2 7 ,4 7 2
3 04 ,008
283,637;
1,1 05,185! 1 ,0 0 5 ,7 1 3
72,761 [
58,275
514 ,514
59 3 ,6 6 3
8 3 4 ,8 8 1 1

784,391

3,418.022i 3 ,0 7 5 ,0 4 7
5,287.6121 4,9 4 9 ,6 3 1
37,758
5 9 ,5 0 6
125 ,767
164,428;

a Figu res fo r th e m o n th in b o th yea rs In clu de o p e ra tio n s o f th e S cra n ton
R y ., acq u ired Jan . 1 1906. i> F igu res are from F e b . 1. c T h ese figures are
for co n so lid a te d c o m p a n y ,
a I hese are results for m ain lin e, f Now in ­
clu d es R a p id R y . S y s t., S a n d w ich W in d s o r & A m h e r s tb u r g R y . and D etroit
M on roe <c T o le d o S h ort Line R y .
5
h T h ese are e a rly p relim in a ry retu rn s;
decrease d u e to ea rth q u a k e , fire an d strik e a m o n g e m p lo y e e s, A u g . 26 to
S ep t 5 1906.

Street Railw ay Net Earnings.— The following table gives
he returns of ST R E E T railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which m onthly 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 27 1907. The
next will appear in the issue of August 31 1907.
--------G ross E a r n ’ gs-------- --------N et E a rn in g s-------C u rren t
P rev io u s
C u rren t
P rev iou s
Y ea r.
Y ea r.
Y ea r.
Y ea r
•
Roads.
$
$
$
$
A u ro r a E lgin & C h ica g o .J u n e
1 3 6 ,9 0 9
113 ,154
6 6 ,4 5 5
53,111
Ju ly 1 to Jun e 3 0 ............. 1 ,3 3 2 ,5 9 6
1 ,1 7 5 ,8 2 0
6 0 9 ,8 2 0
5 30 ,428
B r o c k to n & P ly m ’ t h . a .J u n e
1 2 ,3 6 0
1 0 .808
3 ,9 0 3
4,331
J an 1 t o Ju n e 3 0 .............
4 8 ,4 5 6
43,811
9,6 0 7
9,103
C ape B re to n E le c C o _ a . Jun e
2 0 ,6 8 6
2 1 ,3 0 2
8,091
8,8 1 4
Jan 1 t o Ju n e 3 0 _______
1 08 ,212
1 1 5 ,2 9 8
3 0 ,0 9 2
4 0 ,5 2 8
C h ic a g o & M llw E l e c ___ J u ly
11 7 ,0 9 6
9 7 ,4 2 5
7 4 ,5 3 7
6 3 ,940
J a n 1 t o J u ly 3 1 _______
5 5 1 ,6 0 4
4 2 9 ,2 9 7
314 ,691
2 52 ,019
E a st St L ou is & S u b ___ Jun e
183,067
1 6 3 .0 1 9
8 9 ,3 1 3
81,436
Jan 1 t o Ju n e 3 0 _______
997 ,8 1 7
8 9 6 ,1 5 7
4 5 4 ,8 6 5
438 ,7 0 6
E lm ira W a t e r L t & R R C o — R R d e p a rtm e n t o n ly —
bA p rll 1 t o J u n e 3 0 .............
55,6 0 6
5 2 ,1 5 9
13,445
12,672
J an 1 t o Ju n e 3 0 _______
103 ,324
95,9 6 8
22,774
2 4 ,6 4 0
J u ly 1 t o J u n e 3 0 _______
219 ,5 0 4
2 0 4 ,8 8 2
56,5 5 6
48,9 9 0
El P a so E lec C o a - . - - J u n e
4 1 ,0 3 0
3 2 ,1 8 3
1 1 ,028
11,849
Jan 1 t o Jun e 3 0 .............
2 3 3 ,6 7 2
1 80 ,822
50,431
60,307
15,754
G a lv eston E le c C o . a . . . J u n e
36,521
3 2 ,1 6 5
1 7 ,0 2 0
J u ly 1 t o Jun e 3 0 ----------170 ,3 0 6
139 ,462
6 5 ,1 7 9
4 8 ,9 0 3
H o u g h to n C o St R y _ a - - J u n e
2 2 ,4 3 7
20,151
10,375
8 ,4 0 0
Jan 1 t o Jun e 3 0 .............
114 ,1 6 2
1 0 0 ,0 8 8
3 6 ,626
27,4 1 7
H o u s to n E lec C o . a ...........Ju n e
5 9 ,0 7 6
5 1 ,1 5 8
19,909
21,021
Jan 1 t o Ju n e 3 0 .............
3 1 7 ,3 5 0
2 7 4 ,1 8 0
104 ,8 4 3
95,1 5 7




401

— I n t ., R en tals, <fcc.— — B a l. o f N et E ’ n g s .—
C u rren t
P r e v io u s
C u rren t
P r e v io u s
Y ea r.
Y ear.
Y ear
Y ea r.
R oads.
$
$
$
$
A u ro r a E lgin & C h ica g o Ju n e
2 7 ,6 5 0
2 4 ,9 3 9
3 8 ,8 0 5
2 8 ,1 7 2
Ju ly 1 t o Ju n e 3 0 . ...........
3 1 9 ,1 0 0
2 9 4 ,0 1 8
2 9 0 ,7 2 0
2 3 6 ,4 1 0
B r o c k t o n & P l y m o u t h ..J u n e
1,7 9 9
1 ,8 3 2
2 ,1 0 4
2 ,4 9 9
Jan 1 t o Ju n e 3 0 _______
1 0 ,7 7 0
1 0 ,9 8 8
d e f l,1 6 3
d e l l , 885
C ape B r e to n E le c C o ___Ju n e
4 ,2 7 6
4,2 5 1
3 ,8 1 5
4 ,5 6 3
2 5 ,5 8 7
26,151
4 ,5 0 5
1 4 ,3 7 7
J an 1 t o Ju n e 3 0 _______
E lm ira W a t e r L t & R R C o — R R d e p a rtm e n t o n ly —
A p ril 1 t o J u n e 3 0 _______
13,523
12,168
* 1 ,9 9 2
2:1,009
Jan 1 t o Ju n e 3 0 _______
2 5 ,6 2 6
2 4 ,5 1 4
* 1 ,1 2 1
* 1 ,1 7 0
J u ly 1 t o Ju n e 3 0 ----------5 1 ,6 9 5
4 9 ,5 1 3
£ 1 0 ,1 7 2
* 1 ,1 6 4
E l P a so E le c C o ________ Ju n e
5 ,2 1 4
3 ,7 9 7
5 ,8 1 4
8 ,0 5 2
J an 1 t o Jun e 3 0 _______
2 8 ,7 3 0
2 2 ,6 7 8
21,7 0 1
3 7 ,6 2 9
G a lv e s to n E le c C o _____ Ju n e
4 ,1 6 7
4 ,1 6 7
1 2 ,8 5 3
11,5 8 7
Jan 1 t o Jun e 3 0 _______
25,001
25,001
4 0 ,1 7 8
2 3 ,9 0 2
H o u g h to n C o St R y ____ Ju n e
3,9 4 5
3 ,9 1 8
6 ,4 3 0
4 ,4 8 2
■Jan 1 t o Ju n e 3 0 _______
2 3 ,6 7 0
2 3 ,4 8 0
1 2 ,9 5 6
3 ,9 3 7
H o u s to n E le c C o _______ Ju n e
8,4 1 7
7 ,6 9 2
11,4 9 2
1 3 ,3 2 9
Jan 1 t o Ju n e 3 0 _______
5 7 ,5 8 6
5 3 ,7 9 0
4 7 ,2 5 7
4 1 ,3 6 7
J a c k s o n v ille E le c C o ___Ju n e
3 ,8 5 5
3 ,4 2 5
9,2 1 3
6 ,8 2 3
2 1 ,5 5 0
2 0 ,1 6 3
4 6 ,2 1 3
3 7 ,5 1 9
Jan 1 t o Ju n e 3 0 _______
P u g e t S o u n d E l C o _____ Ju n e
3 1 ,9 7 7
2 4 ,7 6 3
2 6 ,9 5 9
1 3 ,4 0 2
S a v a n n a h E le c C o ______Ju n e
11,9 4 8
11,262
6 ,4 8 9
1 6 ,7 9 7
7 2 ,2 1 3
67,6 3 7
2 2 ,6 9 6
5 3 ,5 8 0
Jan 1 t o Jun e 3 0 .............
T r o y & N ew E n g la n d —
A p r il l t o Jun e 3 0 . ...........
200
200
d ef8 2 5
2 ,4 3 4
Jan 1 t o Jun e 3 0 _ ...........
384
300
def2 0 7
2 ,9 1 5
J u ly 1 t o Jun e 3 0 _______
913
3 ,6 1 2
1,543
6 ,6 6 9
W h a t c o m C o R y & L t - .J u n e
6 ,6 5 6
3 ,7 5 8
3 ,9 3 2
2,5 8 7
Jan 1 t o Ju n e 3 0 _______
3 8 ,1 9 0
22,841
2 7 ,7 0 3
1 4 ,1 3 7
* A ft e r a llo w in g fo r o th e r in c o m e r e c e iv e d .

ANNUAL REPORTS.
Annual R eports.— The follow ing is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the “ Railw ay & Industrial” and “ Street R ailw ay” sections.
This index does not include reports in to-d a y ’s “ Chronicle.”
R ailroads—
P a g e. I In d u stria l C o m p a n ies — (con .) P a g e.
B a ltim o re & O h io (p re lim , s ta te .) 220 1E m p ire Iron & S te e l____________ 218
C lev elan d A k r o n & C o l u m b u s .. 215 I G a lv e s to n W h a r f ________________ 341
H o c k in g V a lle y (p re lim , s ta te .) . 339 i G lo b e -W e r n ick e (b a l. sh .J u n e 29) 342
N o rfo lk & W e s te rn (p re lim , s t a t e )339 ; M arsden C o ., P h ila d e lp h ia ______340
S t. L o u is S o u th w e s t, (p re l. s t a t e .)3 3 9 j N o rth e r n C a lifo rn ia P o w e r ______340
Industrial C om p a n ies—
N o v a S c o tia Steel & C o a l_______ 218
A la b a m a C o n so l. C oal & I r o n . . . 217 ! P itts b u r g h O il & G a s ____________ 280
A m e rica n G lu e ___________________ 282 P la n te rs C o m p re s s _______________ 341
A m e r. P r in tin g (b a l. sh . Ju n e 1) . 282 ; S. S later & S on s ( b a l .s h .F e b .27) 342
A m e r ic a n C e m e n t________________ 282 S o u th e rn C o tto n O il______________280
A m . T o b . (rep . C om . o f C o r p . ) . . 277 !s t a n d .O il (r e p .C o m .o f C o r p .)2 1 6 , 350
A s s o cia te d Oil C o ------------------------- 281 T e x a s P a cific L a n d T r u s t _________219
B em is B ros. B a g ( b a l.s h .N o v .28) 341 1U n ion O il C o ______________________280
C a liforn ia O il F ie ld s, L t d _______ 281 ! U . S. Steel C o rp . (h a lf-y e a r ) ______ 277
C a). W in e A s s n . (b a l. sh . D e c .
1W e s tln g h o u s e M a c h i n e __________217
3 1 ) _________________ ___________ 283 i W o lv e r in e C o p p e r M in in g _______ 340
C en tral C oal & C o k e _______ 21 8 , 340 1 Street R ailw ays—C h cs. & D elaw are C a n a l________ 341 j K a n s a s C ity R y . & L ig h t _______ 339
C h ica g o R a ilw a y E q u ip m e n t-----219 R y . & L ig h t S e cu rities, B o s t o n . 341
( E . I . ) d u P o n t d e N e m o u rs P o w .
i S ao P a u lo T ra m . L t . & P o w e r .. 216
(re p o rt C o m . o f C o r p .) _______ 342 ! W e s t In d ia E le c tr ic C o ., J a m a ic a 215

Lehigh Valley Railroad.
(Report for Fiscal Year ending June 3 0 1 9 0 7 .
On pages 4 1 0 to 4 1 3 will be found the remarks of Presi­
dent E. B. Thomas and also the balance sheet. Below are
the com parative figures for four years, compiled for the
“ C hronicle.”
O P E R A T IO N S .
1 9 0 6 -0 7 .
190 5-0 6.
1 90 4-0 5.
19 0 3 -0 4 .
A v e ra g e m iles o p e r a t e d .
1,443
1,429
1,393
1 ,3 9 2
G ross e a rn in gs p er m ile .
$24,991
$22 ,943
$ 22 ,438
$ 2 1 ,4 5 6
N et ea rn in gs p e r m ile —
89,6 6 9
$8,843
$8,857
$ 7 ,9 0 6
N u m b e r p a s s ’ gers c a r ’ d _ 5 ,1 8 1 ,5 3 3
4 ,9 8 9 ,9 8 9
4 ,5 3 5 ,2 3 3
4 ,1 9 9 ,4 9 0
N o . p a s s , ca rried 1 m i l e . 2 5 0 ,4 5 9 ,5 0 8 2 2 7 ,3 5 7 ,2 0 9 2 0 2 ,0 5 6 ,3 3 9 1 8 2 ,3 7 3 ,0 8 2
A v e r , d is ta n ce e a ch pass.
48.34
ca rried (m ile s )_______
45 .5 6
44 .5 5
4 3 .4 3
A v .r e v . p er p a s s , per m .
1.742 c ts .
1.7 4 7 c ts .
1 .7 3 0 cts.
1.7 3 7 c ts .
4 ,0 4,6 9 5
P a ssen g er tra in m lle a g e .
3 .9 0 9 ,3 1 0
3 ,8 6 0 ,5 4 0
3 ,7 3 1 ,2 1 6
101 .5 9 c ts .
90.9 2 c ts .
P a ss. r e v . p e r t ia in m il _ 106 .8 2 c ts .
8 4 .5 8 c t s .
A v . N o . pa ss. in|each t r .
61.32
58.16
52 .3 4
4 8 .8 8
25,5 6 8 ,2 5 1
2 3 ,7 7 4 ,2 8 7
8 ,1 5 3 ,9 8 0
2 1 ,9 0 9 ,0 9 7
N o . to n s ca r . (re v -lfr ’ t ) .
4 ,3 4 2 ,8 7 7
4 ,1 0 3 ,7 7 5
4 ,7 7 0 ,0 9 9
3 ,8 9 6 ,5 0 2
T o n s 1 m ile (re v . fr t ) a .
9 ,0 6 2 ,0 5 7
8 ,6 2 1 ,8 8 3
F re lg h t train m ile a g e . _
8 ,1 9 5 ,1 7 6
8 ,0 1 4 ,9 7 4
A v . r e v . p e r t o n p er m ile
0.631 Cts.
0.6 2 6 Cts.
0 .6 3 3 c ts .
0.6 3 7 c t s
(re v e n u e fr e ig h t ) ------F r e ig h t tra in e arn in gs
(re v .) p e r tra in m i l e . .
$3.32
$3.15
$3.17
$ 3 .1 0
A v . N o . to n s in e a ch t r ’ n
5 03 .7 0
5 0 0 .7 6
(re v e n u e f r e ig h t )------526 .38
4 8 6 .1 5
a 0 0 0 s o m it t e d .
E A R N I N G S , E X P E N S E S , C H A R G E S , &C.
190 6 -0 7 .
190 5 -0 6 .
190 4-0 5.
C oal t r a n s p o r t a t io n -------15 ,1 1 0 ,8 9 9
O th e r fre ig h t t r a n s p o r t’ n 1 4 ,9 9 6 ,6 7 3
P a ssen ger tr a n s p o r t a t ’ n 4 ,3 6 3 ,4 5 2
E x p re ss t r a n s p o it a t io n .
373 ,953
M ail t r a n s p o r t a t io n ____
217,793
1 ,0 0 5 ,6 6 2
M is c e lla n e o u s ___________

1 3 ,2 4 8 ,5 6 5
1 3 ,9 3 4 ,1 2 7
3 ,9 7 1 ,3 9 2
367 ,706
217 ,746
1 ,0 5 0 ,3 2 0

1 3 ,5 3 0 ,3 3 7
12,4 3 2 ,5 8 3
3 ,5 0 9 ,8 2 5
3 3 7 ,1 0 8
207,661
1 ,2 5 8 ,3 2 9

1 9 0 3 -0 4 .
$
,8 3 5 ,0 7 6
,994,701
,155,715
3 0 6 ,0 2 5
2 0 7 ,6 9 2
,3 8 2 ,5 2 9

T o t a l e a r n in g s .............. 3 6 ,0 6 8 ,4 3 2

3 2 ,7 8 9 ,8 5 7

3 1 ,2 7 5 ,8 4 3

2 9 ,8 8 1 ,7 3 8

/

THE CHRONICLE.

402
O perating E x p en se s —
M a in t. o f w a y & s t r u c t ’ s
M ain ten an ce o f e q u ip m ’t
C o n d u c t in g t r a n s p o r t ’n .
G en eral e x p e n s e s ___ . . .

$
3 ,1 9 6 ,8 5 4
6 ,1 8 6 ,6 4 2
1 2 ,100,681
630 ,075

190 5-0 6.
$
3 ,1 5 3 ,2 4 5
5 ,4 8 5 ,7 9 4
1 0 ,8 9 1 ,9 5 4
6 21 ,218

3 ,2 6 9 ,3 8 3
4 ,8 9 4 ,2 6 9
1 0 ,1 7 9 ,0 3 8
587 ,011

190 3 -0 4 .
S
3 ,0 5 9 ,2 5 8
4 ,7 4 5 ,3 4 2
1 0 ,4 6 9 ,8 0 6
595 ,8 9 5

T o t a l e x p e n s e s _______
P . c . o p . e x p . to e a r n s ..
N et e a r n in g s ____________
Add—
D iv id e n d s , In t ., & c ., & c.
N e t. fro m m isce ll. o p e r .

2 2 ,1 1 4 ,2 5 3
(61.31)
1 3 ,9 5 4 ,1 7 9

2 0 ,1 5 2 ,2 1 1
(61.46)
1 2 ,6 3 7 ,6 4 6

1 8,9 2 9 ,7 0 1
(60.52)
1 2 ,3 4 6 ,1 4 1

1 8 ,8 7 0 ,3 0 0
(63.15)
1 1 ,0 1 1 ,4 3 8

350 ,313
594 ,825

4 06 ,7 2 7
4 0 2 ,1 2 5

4 0 2 ,2 4 5
50,764

3 74 ,667
1 3 0 ,8 1 0

T o t a l in c o m e __________
D ed u ct—
A d d it io n s an d im p r ’t s . .
In teres t on b o n d s _______
In terest on e q u ip , t r ’ sts
R e n ta ls a n d g u a r a n tie s .
T a x e s ________________ _
M is c e lla n e o u s ___________

1 4 ,8 9 9 ,3 f7

1 3 ,4 46 .49S

1 2 ,7 9 9 ,1 5 2

1 1 ,5 1 6 ,9 1 5

2 ,0 6 8 ,5 9 0
3 ,5 4 5 ,3 3 3
119 ,170
2 ,2 0 0 ,4 7 3
885 ,9 0 9
5 3 ,888

1 ,5 7 0 ,2 2 7
3 ,2 1 5 ,0 2 2
163,147
2 ,2 9 5 ,7 2 3
707 ,0 4 0
43,7 5 5

1 ,4 1 1 ,5 5 1
2 ,7 0 1 ,9 6 1
2 10 ,9 3 7
2 ,3 0 4 ,4 7 3
7 24 ,055
53,2 8 6

1 ,4 6 5 ,2 9 0
2 ,5 2 0 ,3 8 3
2 58 ,7 2 7
2 ,3 0 4 ,4 7 3
6 79 ,813
32,667

T o t a l __________________
N et in c o m e ______________
L e h ig h V a l. C oal C o . a n d
a ffilia te d c o a l c o ’ s, n e t

8 ,8 7 4 ,3 6 3
6 ,0 2 4 ,9 5 4

7 ,9 9 4 ,9 1 4
5 ,4 5 1 ,5 8 4

7 ,4 0 6 ,2 6 3
5 ,3 9 2 ,8 8 9

7 ,2 6 1 ,3 5 3
4 ,2 5 5 ,5 6 0

111 ,2 5 0

3 18 ,489

6 35 ,548

8 56 ,4 3 7

190 6-0 7.

190 4 -0 5 .

T o t a l n e t in c o m e ____
6 ,1 3 6 ,2 0 4
5 ,7 7 0 ,0 7 3
6 ,0 2 8 ,4 3 7
D iv s . on p r e f. s t o c k a . . (10 % )1 0 ,6 3 0 (1 0 % ) 1 0 ,6 3 0 (1 5 % )1 5 ,945
D i v s . o n c o m . s t o c k . . ( 5 % ) 2 , 0 1 6 ,7 4 0 (4 )1 ,6 1 3 ,3 9 2 (3 )1 ,2 1 0 ,0 4 4
a S u rp lu s ............... ............

2 ,0 2 7 ,3 7 0
4 ,1 0 8 ,8 3 4

1 ,6 2 4 ,0 2 2
1 ,2 2 5 ,9 8 9
4 ,1 4 6 ,0 5 1 4 ,8 0 2 .4 4 8

_______
___________

a T h e su rplu s fo r 1906-07 on th e o p e r a tio n s o f th e r a ilro a d c o m p a n y
(o m it t in g th e n et in c o m e fro m th e c o a l pro p e rtie s) w a s , as sh ow n a b o v e ,
$ 3 ,9 9 7 ,5 8 4 ; a d d in g th e a c c u m u la te d su rplu s on J u ly 1 190 6, § 1 1 ,3 8 0 ,9 1 5 ,
an d m iscella n eou s a d ju s tm e n ts , 5 2 ,6 5 9 , m ak es a t o t a l o f $ 1 5 ,3 8 1 ,1 5 8 ; d e ­
d u c t in g th e c u m u la tiv e d iv id e n d p a id on th e p referred s t o c k fo r th e y e a rs
1893 t o 1904, in c lu s iv e , as o rd e re d b y th e c o u r ts , v i z ., $1 1 6 ,6 7 4 ( 1 1 0 % ) ,
$5 ,2 0 0 d isc o u n t on gen eral c o n s o lid a te d m o r tg a g e b o n d s s o ld , an d $ 1 ,2 5 0 ,000 t ia n s fe r r e d t o sp ecia l reserve fo r e q u ip m e n t t o be c o n d e m n e d , le a v e s a
t o t a l su rp lu s o n Ju n e 30 1 90 7, as p e r b a la n ce s h e e t, o f $ 1 4 ,0 0 9 ,2 8 3 .
L E H I G H V A L L E Y R A I L R O A D B A L A N C E S H E E T J U N E 30.
'
.
190 7.
1 90 6.
A s sets—
$
$
C o st o f r o a d _______ ______ ______________ 1 8 ,6 3 9 ,2 9 2
1 8 ,6 3 9 ,2 9 2
2 9 ,7 7 0 ,8 7 0
E q u ip m e n t .,___________ ______ ________ 3 5 ,7 2 6 ,4 2 2
C o n s o l, b o n d s w ith W a r . R u n tru ste e s
1 0 0 ,0 0 0
1 00 ,000
T r e a s u r y s t o c k _________________________ _____ 250
250
R e a l e s t a t e ____________________________
2 ,1 4 9 ,5 2 3
2 ,0 7 6 ,1 9 5
C on s tr u c tio n n ew s h o p s , S a y r e _______
C o n s tr u c tio n , I r v in g to n R R __________
C o n s tr u c tio n , L eh igh & L a k e E rie R R
3 5 3 ,5 7 5
3 3 ,7 1 7
C o n s tr u c tio n , B a y Sh ore C o n n ’ g R y . .
8,6 3 6
M ortg ages re c e iv a b le __________________
3 5 0 ,2 0 0
3 5 0 ,2 5 0
S e c u r itie s o w n e d —
C on sol b on d s o w n e d ________________
7 ,0 0 0 ,0 0 0
2 ,0 0 0 ,0 0 0
S t o c k s o f R R . an d w a te r lin e s ______ 2 9 ,1 6 6 ,6 5 9
2 8 ,8 3 4 ,2 2 9
1 9 ,0 0 8 ,2 1 1
S t o c k s o f c o a l c o m p a n ie s ___________ 1 9 ,6 7 4 ,6 8 3
S t o c k s o f o th e r c o m p a n ie s __________ 5 ,6 9 3 ,0 5 0
4 ,9 9 7 ,7 5 1
B o n d s o f railroa d and w a te r l i n e s . . 4 ,3 7 2 ,9 2 6
5 ,5 7 2 ,9 2 6
B o n d s o f o th e r c o m p a n ie s __________ 3 ,3 0 5 ,9 0 8
2 ,9 7 4 ,4 0 8
C t fs . o f in d e b t. L e h . V a il. C oa l C o . 1 0 ,5 3 7 ,0 0 0
1 0 ,5 3 7 ,0 0 0
F q u lp . T ru st c t fs . In t r e a s u r y ______ 4 ,5 4 0 ,0 0 0
6 3 0 ,0 0 0
A d v a n c e s t o R R . a n d w a te r lin e s ------A d v a n c e d Insurance p r e m iu m s _______
1 19 ,687
6 7 ,9 6 7
C a sh on h a n d ___________________________ 6 ,6 1 2 ,8 4 9
1 1 ,6 7 6 ,9 6 6
Cash w ith o ffic e r s a n d a g e n ts ________
25,8 4 0
35,861
Cash in tr a n s it__________________________
688 ,1 7 2
6 2 2 ,7 6 6
D u e b y sta tion a g e n ts __________________ 1 ,0 3 3 ,8 6 4
9 9 1 ,8 0 4
D u e b y in d iv id u a ls and c o m p a n ie s ___ 2 ,4 9 3 ,5 1 9
1 ,6 5 0 ,0 8 2
T r a ffic b a la n ce s d u e . ............... .................
426 ,421
3 3 4 ,7 1 5
306 ,251
3 7 ,5 0 2
Bills r e c e iv a b le ________________________
A d v a n c e s _________ _______ _____ ______
1 70 ,991
5 3 5 ,0 7 7
M aterials an d su p p lie s ________________
2 ,0 9 9 ,1 4 5
1 ,8 1 5 ,9 2 7
S u n d r y a c c o u n t s (d e fe r r e d )___________
2 91 ,972
198 ,496
T o t a l a ssets........ .............. ....................... 1 5 5 ,8 7 8 ,1 9 9
L ia b ilities—
C a p ita l s t o c k ___________________________ 4 0 ,4 4 1 ,1 0 0
F u n d e d d e b t .................................. .............. 8 2 ,6 3 9 ,0 0 0
E q u ip m e n t tru st o b lig a t io n s __________ 6 ,5 6 4 ,0 0 0
R e s e r v e s fo r e q u ip ., ren e w a ls, d e p r e c .
o f m in es, ch a n g es o f g ra d e , & c ____ 4 ,5 5 0 ,8 5 0
P e n n . & N . Y . C a nal & R R . b o n d s
u n r e d e e m e d _________________________
M ortg a g es on real e s t a t e _______________
1 96 ,880
In teres t and ren tals a c c r u e d __________ 1 ,1 6 3 ,8 9 6
I n te r e s t d u e an d u n c la im e d ___________
6 0 ,3 4 0
R e n ta ls o f leased lines d u e ____________
3 3 7 ,5 0 0
Ju n e p a y -r o lls , since p a id _____________
1 ,1 9 5 ,8 9 3
A u d it e d v o u c h e r s , in c lu d in g Ju n e bills
sin ce p a id ____________________________ 2 ,3 5 0 ,1 3 8
I n d iv id u a ls and c o m p a n ie s ----------------1 2 7 ,5 6 3
T r a f f ic b a la n c e s ________________________ 1 ,0 7 7 ,9 5 5
T a x e s a c c r u e d ________________ .________
2 5 7 ,2 7 4
D eferred and s u s p en d e d —
T a x e s a c c r u e d , n o t d u e ____________
298 ,2 1 1
S u n d ry a c c o u n t s ____________________
5 7 1 ,8 9 5
M is c e l la n e o u s __________________________
36,421
P r o fit and lo s s ........ ...................- ................ 1 4 ,0 0 9 ,2 8 3
T o t a l lia b ilitie s ........................................1 5 5 ,8 7 8 ,1 9 9
L E H IG H

190 5.
$
1 8 ,6 3 9 ,2 9 2
2 9 ,7 7 0 ,8 7 0
------------------250
1 ,6 1 6 ,6 7 7
602 ,6 3 3
121 ,595
----------8,211
3 4 9 ,0 7 0
----------2 0 ,0 0 9 ,2 5 5
1 ,5 0 4 ,6 7 6
4 ,9 3 8 ,7 5 8
4 ,8 2 7 ,9 2 6
2 ,0 4 5 ,8 0 8
1 0 ,5 3 7 ,0 0 0
7 2 0 ,0 0 0
5 ,4 9 8 ,0 6 7
6,007
8 ,8 6 2 ,5 5 0
87,199
4 65 ,233
1 ,1 6 3 ,4 4 6
1 ,3 7 4 ,7 8 0
4 0 8 ,6 1 9
25,0 0 2
3 9 9 ,9 8 5
1 ,5 5 7 ,5 8 8
162,133

1 4 3 ,5 0 0 ,8 9 9 11 5 ,7 0 2 ,6 3 1
4 0 ,4 4 1 ,1 0 0
7 7 ,1 0 0 ,0 0 0
3 ,4 4 1 ,0 0 0

4 0 ,4 4 1 ,1 0 0
5 4 ,1 0 0 ,0 0 0
4 ,4 4 3 ,0 0 0

4 ,3 1 6 ,1 3 7

1 ,2 9 4 ,5 0 8

5 7 ,0 0 0
196,921
1 ,1 4 1 ,1 2 7
5 1 ,542
3 4 6 ,5 0 0
1 ,0 8 5 ,6 9 4

-------------------2 31 ,920
8 33 ,265
4 1 ,9 1 8
3 4 6 ,5 0 0
1 ,0 4 2 ,8 0 3

2 ,1 6 5 ,0 2 7
2 7 0 ,1 8 0
6 2 5 ,0 4 5
6 6 ,3 1 5

2 ,1 9 7 ,1 0 4
397 ,0 6 7
618 ,1 7 2
3 2 4 ,3 7 3

2 2 6 ,6 4 5
5 5 9 ,1 1 0
30,6 4 3
1 1 ,3 8 0 ,9 1 5

2 5 1 ,7 8 0
4 6 6 ,3 9 0
15,405
8 ,6 5 7 ,3 2 5

1 4 3 .5 0 0 ,8 9 9 1 1 5 .702 .63 1

V A L L E Y C O A L C O . B A L A N C E S H E E T J U N E 30

190 7.
1 90 6.
A ssets—
$
$
P r o p e r t y and p la n t ____________________ 1 7 ,5 6 5 ,5 2 5
1 7 ,5 6 5 .5 2 5
T r e a s u r y s t o c k _________________________
3 5 0 ,0 0 0
3 5 0 ,0 0 0
S ecu rities o w n e d _______________________
3 3 4 ,1 1 2
A l v a n o e s fo r c o a l-m ln in g r ig h ts ______ 5 ,4 0 8 ,5 4 2
5 ,4 3 4 ,4 6 1
C a s h ________________________ ______ _____
4 9 3 ,1 6 2
5 0 0 ,2 1 8
C a sh in t r a n s it _________________________
4 1 0 ,3 4 7
2 9 3 ,8 1 8
S t o c k o f coa l on h a n d __________________ 2 ,6 6 5 ,6 8 8
2 ,4 1 0 ,5 0 0
M aterials an d s u p p lie s ________________
4 5 0 ,7 7 5
1 7 1 ,6 2 0
B ills re c e iv a b le ______________________
254 ,271
5 5 ,2 6 2
M ortg a g es r e c e iv a b le _______ __________
________25
D u e fro m c o m p a n ie s and I n d iv id u a ls . 4 ,3 9 4 ,8 0 2
3 ,9 3 3 ,3 3 6
P re u i. on u n ex p ired Insurance an d
o th e r d eferred assets (d e fe r r e d )____
1 6 ,3 9 9
22,8 8 8
T r u s te e s o f s in k in g f u n d s ______________ 1 ,4 1 8 ,3 3 6
1 ,2 3 7 ,4 8 8

190 5.
$
1 7 ,5 3 3 .4 6 6
350 ,0 0 0
334 ,112
5 ,3 6 4 ,2 8 0
760.451
4 2 9 ,8 0 8
2 ,6 7 3 ,4 5 7
176 ,670
55.262
25
3 ,9 9 7 ,0 6 8

T o t a l a s s e t s .............................................. 3 3 ,4 2 7 ,8 4 7
L ia b ilities —
C a p ita l s t o c k ____________ L_____________ 1 ,9 6 5 .0 0 0
F u n d e d d e b t ___________________ - ............ 1 2 .9 5 7 ,5 0 0
C ertifica tes o f in d e b te d n e s s .................... 1 0 ,5 3 7 ,0 0 0
A u d ite d v o u c h e r s ______________________ 3 ,0 1 0 ,0 5 6
W a g e s d u e and u n p a id ________________
4 31 ,121
S u n d r y a c c o u n ts p a y a b le ______________
3 1 4 ,8 4 4
D eferred and su sp en d e d lia b ilitie s —
R o y a lt ie s re ce iv e d fro m lessees,
n o t a c c r u e d _______________ _______
1 5 3 ,9 6 7
In teres t on fu n d e d d e b t , a c c r u e d . .
3 1 6 ,9 3 7
M is c e l la n e o u s _____________________ ____
1 6 5 ,9 8 2
s i n k in g fu n d s and o th e r rese rv e s____ 1 ,7 8 7 ,5 7 5
P r o fit an d lo s s __________________________ 1 ,7 8 7 ,8 6 4

3 2 ,3 0 9 ,2 5 3

3 2 ,7 3 7 ,7 5 1

1 ,9 6 5 ,0 0 0
1 2 ,9 6 8 ,0 0 0
1 0 ,5 3 7 ,0 0 0
1 ,9 8 1 ,3 5 5
4 1 4 .8 4 8
3 4 6 ,2 5 4

1 ,9 6 5 ,0 0 0
1 2 ,9 6 8 ,0 0 0
1 0 ,5 3 7 000
2 ,1 3 7 .0 3 4
4 72 .077
109,371

T o t a l lia b ilitie s _______ _______ ..........
— V . 8 4 . p . 155 1.




3 3 ,4 2 7 ,8 4 7

27,363
1 ,0 3 5 ,7 8 9

143 ,111
3 1 7 ,2 0 0
1 6 9 .4 7 7
1 ,4 9 2 ,5 5 7
1 ,9 7 4 ,4 5 3

119 ,702
3 2 4 ,2on
242 .606
2,211 4 " 9
1.651,301

3 2 ,3 0 9 .2 5 3

3 2 ,7 3 7 .7 5 1

[V o l .

lxxxv

.

Missouri Kansas & Texas Raiiw ay.
{Statement for Fiscal Year ending June 30 1907.)
The results for the late fiscal year compare as follows:
190 6 -0 7 .
19 0 5 -0 6 .
1 90 4-0 5.
1 90 3-0 4.
G ross e a r n in g s ..................$2 6 ,1 8 3 ,9 5 9 $ 2 1 ,1 5 9 ,1 4 5 $ 2 0 ,0 4 1 ,0 9 5 $ 1 7 ,7 6 6 ,5 9 5
O p e ra tin g e x p .a n d t a x e s 1 7 ,6 7 5 ,4 5 0
1 5 ,4 1 4 ,5 4 5
14,9 3 7 ,7 2 0
12,9 9 7 ,7 0 9
N e t ea rn in gs__________$ 8 ,5 0 8 ,5 0 9
F ix e d c h a r g e s___________
5 ,0 0 3 ,3 3 8

$ 5 ,7 4 4 ,6 0 0
4 ,5 0 0 ,5 4 8

$ 5 ,1 0 3 ,3 7 5
4 ,2 6 1 ,3 6 5

$ 4 ,7 6 8 ,8 8 6
4 ,0 1 9 ,2 4 0

B a la n ce , s u rp lu s ___ _
— V . 8 5 , p . 346 , 284.

$ 1 ,2 4 4 ,0 5 2

$842,010

$74 9,64 6

$3,5 0 5 ,1 7 1

Buffalo R ochester &Pittsburgh Railw ay.
(Report for Fiscal Year ending June 30 1907.)
The remarks o f President Arthur G.Yates are given in
full on subsequent pages.
The figures of earnings, expenses, balance sheet, & c., have
been com piled for four years, as follows:
O p era tion s, E a rn in g s and E x p en se s .
1 90 6-0 7.
1 90 5-0 6.
190 4-0 5.
R o a d o p e r a te d J u n e 3 0 .
569
568
538
E q u ip m en t—
290 267
249
L o c o m o t iv e s ____________
102
102
89
P a ssen ger ca r s ___________
F reigh t c a r s ______________
13,5 0 8
1 2 ,6 9 7
12,748
S e rv ice c a r s ______________
487
485
471
O pera tion s—
P a ssen gers c a r r ie d ______
1 ,5 9 7 ,6 5 1
1 ,4 4 0 ,9 2 8
1 ,3 3 5 ,1 7 9
P a ssen gers ca rried 1 m ._ 5 2 ,7 1 3 ,8 2 7
5 0 ,5 3 1 ,9 9 0
4 5 ,3 8 9 ,5 3 4
R a te p er pass, p e r m ile . 1.931 c ts .
2.0 3 9 c ts .
2.0 5 8 c ts .
T o n s o f b it. c o a l c a r r ie d 6 ,1 8 4 ,1 5 9
5 ,2 0 4 ,4 3 7
6 ,2 3 4 ,2 6 0
T o n s o f c o k e c a r r ie d ____
6 2 0 .1 5 4
7 0 6 ,8 6 7
7 0 0 ,2 5 9
T o t .t o n s (all fg h t.) c a r r .
9 ,5 4 8 ,7 9 6
8 ,3 7 7 ,3 7 5
9 ,2 6 6 ,7 3 2
A v e r . d is . h a u l, 1 t o n m .
145.7
■
148 .2
144.2
F re ig h t (ton s) 1 m i l e . . . 1391602709 1241878000 1336062752
R a te p er to n per m iie ___
0 .4 9 8 c t s .
0 .5 0 8 c ts .
0 .5 1 0 c ts .
E a rn in g s —
$
$
$
1 ,1 4 3 ,4 4 4
1 ,1 5 4 ,0 8 9
1 ,042,241
P a s s e n g e r .........................
F r e ig h t ......................... .........
7 ,3 8 2 ,3 4 5
6 ,6 0 3 ,1 1 2
7 ,0 7 0 ,1 5 0
M is c e lla n e o u s ___________
7 0 ,1 2 7
4 0 ,0 4 7
2 5 ,8 8 4

190 3 -0 4 .
499
243
86
12,219
443
1 ,2 9 9 ,6 8 7
4 5 ,2 0 8 .6 1 4
2.0 5 4 c ts .
4 ,9 0 7 ,5 4 3
671 ,750
7 ,6 1 9 ,3 4 9
147.8
1126374754
0.541 c t s .
$
1,0 3 8 ,1 7 2
6 ,4 4 6 ,3 6 6
1 1 ,983

T o t a l ..............................
E x p en se s __
T r a n sp o rta tio n ________
M aln t o f e q u i p m e n t . ..
M a in t. o f w a y , & c .............
G eneral ......................
T a x e s ...................................
E x tr a o r d in a r y & Im p ’ t s .

8 ,5 9 5 ,9 1 6

7 ,7 9 7 ,2 4 8

8 ,1 3 8 ,2 7 5

7 ,4 9 6 ,5 2 1

2 ,8 8 2 ,2 5 1
1 ,2 7 9 ,9 8 6
7 7 5 ,9 2 9
2 0 4 ,1 7 7
199 ,687
103 ,965

2 ,6 0 6 ,6 9 3
1 ,0 9 9 ,3 6 8
6 8 3 ,1 5 8
169 ,894
144 .000
9 3 ,2 5 3

2 .8 9 8 ,4 9 0
1,3 1 4 ,4 0 7
676 ,1 9 8
169 ,718
133 .500
9 7 ,2 2 9

2 ,5 1 6 ,6 4 3
1 ,1 3 4 ,7 4 8
589 ,4 1 2
1 68 ,004
102 .000
92,3 8 9

T o t a l ________________
N e t e a r n in g s ____________
P . c . o p . e x p . t o e a r n ___
O th e r i n c o m e ___________

5 ,4 4 5 ,9 9 5
3 ,1 4 9 ,9 2 1
(6 3 .3 5 )
7 0 ,6 6 4

4 ,7 9 6 ,3 6 6
3 ,0 0 0 ,8 8 2
(6 1 .5 3 )
32,2 0 4

5 ,2 8 9 ,5 4 2
2 ,8 4 8 ,7 3 3
(6 5 .1 1 )
2 2 ,8 0 5

4 ,6 0 3 ,1 9 6
2 ,8 9 3 ,3 2 5
(6 1 .4 3 )
3 3 ,4 3 7

T o t a l .......................— D isb u rsem en ts—
I n t. on b on d s & ca r tru st
R e n t a l s _________________
S in k in g f u n d ____________
S p e cia l a p p r o p r i a t i o n s ..
M iscella n eou s in te re st . .
P e n sio n f u n d . . ..................
6 % d iv id e n d o n p r e f ____
D iv id e n d o n c o m m o n .a -

3 ,2 2 0 ,5 8 5

3 ,0 3 3 ,0 8 6

2 ,8 7 1 ,5 3 8

8 0 0 ,2 8 9
4 9 2 .8 6 7
2 9 7 ,5 3 9
3 0 0 ,8 8 8
2 5 ,000
3 60 ,000
6 3 0 ,0 0 0

7 9 3 ,1 7 4
4 8 5 .8 3 5
2 5 7 ,5 4 0
3 1 6 ,2 8 7
19,947
2 5 ,000
3 6 0 .0 0 0
5 4 0 ,0 0 0

2 ,9 2 6 ,7 6 2
•
7 7 8 ,0 3 0
4 7 2 ,6 6 9
222 ,891
4 0 5 ,0 0 0
7,2 9 7
2 5 ,0 0 0
3 6 0 ,0 0 0
4 9 8 ,0 0 0

T o t a l........ .....................
S u r p lu s .d ________________

2 ,9 8 0 ,1 3 1
240 ,4 5 4

2 ,9 0 6 ,5 8 3
126 .503

2 .7 9 7 ,7 8 3
7 3 ,7 5 5

2 ,7 6 8 ,8 8 7
157 ,875

8 3 6 ,1 1 3
5 0 0 ,0 8 7
3 4 4 ,0 4 7
2 0 4 ,7 8 3
80,101
2 5 ,000
3 6 0 ,0 0 0
6 3 0 ,0 0 0

a In 19 0 3 -0 4 , 6 % ; 1 9 0 4 - 0 5 ,6 % ; 1 9 0 5 - 0 6 ,6 % ; 1 9 0 6 - 0 7 ,6 % .
d In a d d itio n t o th is s u rp lu s, th e re w as r e c d v e d from in v e s tm e n ts a n d
" c r e d it e d d ir e ctly t o p ro fit an d loss a c c o u n t ” $ 1 2 0,00 0 in 1904-05 an d
$3 2 0,00 0 In il9 0 3 -0 4 .
BALAN CE SHEET JU N E
30.
1 90 7.
1906.
1905.
1904.
A s s e ts—
$
$
$
$
C ost o f ro a d & e q u Ip ’ t - . . 3 3 , 4 0 1 ,4 6 8
3 1 ,1 9 7 ,9 3 1
3 0 .2 1 7 ,3 8 8
2 8 ,7 3 3 ,1 9 5
Cost o f p r o p r ie ta ry ro a d s 1 ,1 7 0 ,8 9 6
1 ,1 7 0 ,9 3 6
1 ,0 4 0 ,6 7 8
9 2 4 ,2 1 2
I n v e s t m e n t s ........ .................
160,544
1 ,0 2 8 ,8 5 5
1 ,003.671
1,0 0 3 ,6 7 1
Cash ___________ __________ 3 ,4 1 9 ,5 1 3
4 3 2 ,7 3 3
8 9 6 .7 6 6
191 .142
_______
11,000
2 3 ,000
Bills r e c e iv a b le ___________
M aterials on h a n d ................
9 3 3 ,9 1 7
8 6 3 .7 4 8
8 45 ,051
8 4 4 ,9 2 2
A g e n ts an d c o n d u c t o r s ..
123 ,593
2 97 ,598
6 34 .278
6 24 ,710
I n d iv id u a ls , c o s ., & c ____ 1 ,0 1 6 ,9 8 0
3 35 .418
3 22 .857
6 52 ,031
A d v a n c e s , fire in s u r fu n d ,
p en sion fund & in is c ___
303 ,031
2 9 1 ,4 5 6
4 7 8 ,0 4 2
2 4 3 ,6 8 0
A d v a n c e s p> n d ln g Issue
• • •
_______
4 3 6 ,7 1 5
o f se cu ritie s ___________
T o t a l . .............................4 0 ,5 2 9 ,9 4 2
IAa bi litie s__
S t o c k ,c o m m o n .................... 10 ,5 0 0 ,0 0 0
S t o c k , p r e f e r r e d .................. 6 ,0 0 0 ,0 0 0
B o n d s _____________________ 9 ,9 9 9 ,0 0 0
Car tr u s ts ................................ 7 ,1 9 2 ,0 0 0
R e a l estate m o r tg a g e s ___
3 0 4 ,0 0 0
In terest a c c r u e d , n o t d u e
188,280
P a y -r o lls an d v o u c h e r s .. 1 ,6 3 9 ,6 7 5
D u e t o In d iv id ., cos., & c _ .
166 ,129
a; L oa n s p a y a b le __________ 2,5 4 6 ,3 5 1
M is c e lla n e o u s ____________
4 8 9 ,2 7 0
P r o fit an d lo s s ....................... 1 ,5 0 5 ,2 3 7

3 5 ,6 1 8 ,6 7 5

3 5 ,4 4 9 ,7 3 1

1 0 ,5 00 .0 0 0
6 .0 0 0 ,0 0 0
9 .9 9 9 .0 0 0
5 ,1 5 8 .0 0 0
3 0 4 .0 0 0
166 .519
6 5 4 ,8 7 6
129 .342

1 0 .5 0 0 ,0 0 0
6 ,0 0 0 ,0 0 0
9 .9 0 9 .0 0 0
5 ,1 2 7 .0 0 0
304 .0 0 0
166.091
737 .651
6 6 .. W

3 81 .183
2 .3 2 5 .7 5 4

350 ,3 4 2
2 ,1 9 9 .2 5 2

3 3 ,6 7 7 ,2 7 8
• •
*
O.OO^.OOO
6 ,0 0 0 ,0 0 0
9 ,9 9 9 ,0 0 0
4 ,5 3 5 ,0 0 0
3 0 4 ,0 0 0
161,454
809 ,8 5 8
40.0 7 8
5 0 0 ,0 0 0
322 .8 0 3
2 ,0 0 5 ,0 8 5

T o t a l ................................ 4 0 ,5 2 9 ,9 4 2
— V . 8 5 . p . 283 .

3 5 .6 1 8 .6 7 5

35,4 4 9 ,7 3 1

3 3 ,6 7 7 ,2 7 8

x L o a n s co n sist o f c o n s t r u c tio n and im p ro v e m e n t n o te s du>- A u g . 1 1 90 9,
$ 1 ,5 0 0 ,0 0 0 ; 12 m o n t h s ’ n o t e d u e M arch 11 1908, $ 1 ,0 0 0 ,0 0 0 ; a c c r u e d Inerest o n lo a n s n o t y e t p a y a b le , $ 4 6 ,3 5 1 .

Canadian Pacific Railw ay.
(Statement for Year ending June 30 1907.
The results for the fiscal year were as follows:
O p e r a tin g e x p e n se s

190 5-0 6.
1904 0 5 .
1906-07
1 9 0 3 -0 4 .
$ 72,217,528 $ 6 1 .6 6 9 .7 5 8 $ 5 0 ,4 8 1 ,8 8 2 $ 4 6 ,4 6 9 ,1 3 2
3 8 .6 9 6 .4 4 6
3 5 ,0 0 6 ,7 9 4
4 6 ,9 1 4 ,2 1 9
32 ,2 5 6 ,0 2 7
$ 2 2 ,9 7 3 ,3 1 2 $ 1 5 ,4 7 5 ,0 8 8 $ 1 4 ,2 1 3 ,1 0 5
1 .9 6 9 .4 4 7
1 ,6 9 1 .2 6 9
1 .5 8 4 ,6 6 4
$ 2 4 ,9 4 2 ,7 5 9 $ 1 7 ,0 5 9 ,7 5 2 $ 1 5 ,9 0 4 ,3 7 4

F ix e d ch arges and p e n ­
sion fu n d _____________
8 ,5 1 1 ,7 5 6
F o r s te a m s h ip s ............... ..
7 8 0 ,0 0 0
D iv . on c o m m o n (6 % ) . . a t .3 0 0 .800
D lv . o n p re fe rre d (4 % ) .
1 ,7 3 6 ,2 2 8

8 ,3 5 0 .5 4 5
5 80 .000
6 ,0 8 4 .0 0 0
1 .660,133

$ 7 ,9 5 4 ,0 6 6
230 .000
5 .5 7 7 .0 0 0
1 ,514.133

B a la n ce , s u r p lu s ______$ 9 ,3 3 9 ,0 0 5

$ 8 ,2 6 8 ,0 8 2

$ 1 .7 8 4 ,5 5 3

8 1 ,6 6 6 ,2 0 4

a A ls o 1 % e x tra p a id in 1907 fro m Interest on land sales, v iz .
a n d H % O c t . 1.— V . 8 4 , p . 693 .

H % A p ril !

$7 ,5 8 6 ,0 9 7
2 30 ,000
5 ,0 7 0 ,0 0 0
1 ,3 5 2 ,0 7 3

A

ug

. 17 1907. |

THE CHRONICLE,

New Y ork Ontario & W estern Railw ay.
{Statement for the Year ending June 30 1907.)
The results for the fiscal year were as follows:
190 6-0 7.
. $8,2 0 2 ,3 6 1
.
5 ,6 4 4 ,3 4 6
O th er i n c o m e ..
N et i n c o m e ..

B a la n ce , s u r p lu s i____
- V . 84, p . 1488.

1905-06.
$ 7 ,2 6 5 ,0 5 8
5 ,2 3 3 ,2 8 7

190 4-0 5.
$ 7 ,0 9 0 ,8 8 8
5 ,0 5 0 ,7 4 8

19 0 3 -0 4 .
$6,652,48.3
5 ,0 7 2 ,9 3 6

. $ 2 ,5 5 8 ,0 1 5
4 53 ,717

$ 2 ,0 3 1 ,7 7 1
4 53 ,217

$ 2 ,0 4 0 ,1 4 0
451 .2 1 6

$ 1 ,5 7 9 ,5 4 7
4 7 1 ,6 4 7

. $ 3 ,0 1 1 ,7 3 2
$ 2 ,4 8 4 ,9 8 8
$ 2 ,4 9 1 ,3 5 6
. $ 1 ,3 5 6 ,9 4 9
$ 1 ,2 1 0 ,0 8 0
$ 1 ,2 9 7 ,4 8 6
% ) 1 ,1 6 2 ,2 9 6 (2 )1 ,1 6 2 ,2 9 6 (1 1 4 )8 7 1 ,7 6 5

$ 2 ,0 5 1 ,1 9 4
$ 1 ,1 6 4 ,3 6 6

$49 2,48 7

$ 25 ,206

$40 9,51 1

$8 8 6 ,8 2 8

Nashville Chattanooga & St. Louis R y.
{Statement for the Year ending June 30 1907.)
The follow in g is a com parative statement for four years:
1906 0 7 .
1 9 0 5 -0 6 .
190 4-0 5.
1 90 3-0 4.
G ross e a r n in g s ___________ $12 ,238 ,47 2 $ 1 1 ,1 2 0 ,9 8 2 $ 1 0 ,1 1 3 ,0 5 7 $ 1 0 ,2 0 6 ,0 2 2
O perating' e x p e n se s ____
9 ,7 3 0 ,1 6 1
8 ,3 5 4 ,9 1 3
7 ,5 5 2 ,6 5 0
7 ,5 8 1 ,0 3 0
N et ea rn in g s __________$2,5 0 8 ,3 1 1
I n t e r e s t __________________
$94 7,64 0
T a x e s ___________________
220,231
R e n t a l s __________________
626 ,460
B a la n ce , su rp lu s.
- V . 8 4 , p . 103.

$71 3,98 0

$ 2 ,7 6 6 ,0 6 9
$950,680
218 ,990
624,862

$ 2 ,5 6 0 ,4 0 7
$955,981
218 ,753
625 ,878

$ 2 ,6 2 4 ,9 9 2
$958,271
225 ,0 1 4
625 ,878

$97 1,53 7

$ 7 5 9,79 5

$81 5,82 9

Pope M anufacturing Com pany.
{Balance Sheet of June 29 1907.)
The bill of com plaint in the receivership suit filed this
week gives the following balance sheet of June 29 1907,
which we compare with that of July 31 1906 (compare also
item on subsequent page of this issue):
The profit and loss deficit account (see foot note to balance
sheet) states the net profit for the eleven months ending
June 29 1907 as $67,154.
Assets—
June 29 ’07. July 31 ’06
Cost of Properties:
$
$
G ood-w ill, trade­
marks, & c .._ 14,432,6191
Plants operated. 2,170,725j
Plants not oper. _
605,1881
Plants— construc1-18,880,113
tion in progress
19,5251
Invest. In constit­
uent com panies. *1,740,075J
Deferred charges to
operations (ad­
vertising, insur­
213,191
268,858
ance, & c .)_____
M at’ls & supplies. 1,725,8081
T o becom e due on
^ 3,323,711
rubber good s___
234,761J
A ccts.
receivable
1
from public (less
543,725 )
■ 787,054
reserves) ______
Aects. Pope Motor
Car Co ..............-2/l,793,112j
Notes receiva ble..
29,206
39,189
Misc. investments.
79,253
Cash on hand and
in ban k_________
91,042

June 29 ’ 07. July 31 ’ 06
Liabilities—
S
S
1st pref. stock____ 2,390,976 2,390,976
2d pref. s tock ____8,625,100
8,633,100
Common s tock_ 10,000,000 10,000,000
_
Discount on stock
purchased
_
_
447,956
447,956
Reserve agst. closed
plants__________
490,687
517,451
Reserves for re­
placements, &c_
141,483
140,028
Bankers’ lo a n s ___ 1,300,000 1,197,500
Notes payable____
8,293
Accounts payable—
T o p u b l i c _____
426,4811
T o Federal Mfg.
I
C o ....... ...........
13,6991
To
Columbia
260,973
Steel Co
44,639)
T o Pope Mfg.
Co. o f Cal____
65,119 J
Customers’ de­
45,354
posits __________
45,023
26,101
58,503
Pay-rolls accrued.
Deficit (.deducted). 2345,874 sur. 23,860
—

T o t a l ......... 1 ...2 3 .6 7 8 ,2 3 0 23,717,156' T o t a l ................... 23,678,230 23,717,156
x Includes S I,000,000 (all) capital stock of Pope M otor Car C o., valued at S731,331;
510,000 stock of Federal M fg. C o., valued at S595.969; S300.000 stock of Columbia
Steel Co.. valued at par; and S50.000 stock o f Pope Mfg. Co. of California, valued at
S112.774.
y This Includes an item of $1,000,000, being a dividend heretofore declared b y the
M otor Car eom oany, but n p v r paid, and vrhlch has been rescinded, there being no
funds available to nav the same.
z “ Deficit at lulv 31 19)6, *113,028: profit on operations Aug. 1 1906 to June 29
1907, 867,154; balance, deficit. June 29 1907, S315,873."— V. 83, p . 1595.

Granby Consolidated M ining, Sm elting & Pow er Co., L td.
{Statement of Jan. 3 1907 to .V. F . Stock Exchange.)
The official statement to the New Y ork Stock Exchange
said in substance:
T o t a l a u th o r iz e d ca p ita l s t o c k , $ 1 5 ,0 0 0 ,0 0 0 , o f w h ic h th ere Is issu ed a n d
o u ts ta n d in g $ 1 3 ,5 0 0 ,0 0 0 , a ll fu lly p aid a n d n o n -a sse ssa b le .
P a r va lu e
$100 p er sh are.
D iv id e n d s p a id D ee. 16 19<*3, 1 % on $ 1 3 ,3 6 3 ,0 3 0 ca p ita l
issu ed; Ja n . 15 1906, 3 % on $ 1 3 ,5 0 0 ,0 0 0 : M a y 15, 190 6, 3 % on $ 1 3 ,5 0 0 ,0 0 0 ;
S e p t. 15 1906, 3 % on $13 ,500 ,00 0- D ee. 31 1906, 3 % on $ 1 3 ,5 0 0 ,0 0 0 .
[T h e c o m p a n y p a id on M arch 30 1907 2 % a n d 1 % e x t r a , a n d on Ju n e 29,
“ q u a r t e r ly ,” 3 % . — T . l
,'d
In c o r p o r a te d b y special A c t o f th e L e g is la tiv e A s s e m b ly o f th e P r o v in c e
o f B ritish C olu m b ia M arch 29 1901, a m e n d e d F e b . 10 1904 a n d M ar. 12 1906,
a n d Im m ed ia tely pu rch ased all th e p ro p e rtie s an d assets o f th e fo llo w in g
co m p a n ie s: O ld T -onsides M in in g C o ., th e K n o b H ill G old M in in g C o ., L t d .,
G ra y Eagle G old M in in g C o ., L t d ., G ra n b y C o n so lid a te d M in ing & S m e ltin g
C o ., L t d ., an d G -a n d F o rk s W a te r P o w e r & L ig h t C o .. a t an aggregate
c o s t o f $ 1 2 ,0 9 7 ,0 3 0 . T h e rem a in d e r o f th e o u t s ta n d in g ca p ita l s t o c k ,
$ 1 ,4 0 2 ,9 7 0 , w as Issued fo r cash a n d serv ice s r e n d e re d . S in ce th e a c q u i­
sition o f th e fo r e g o in g p ’-ope ties th e c o m p a n y has e x p e n d e d In d e v e lo p ­
m en t an d tu n n el c o n s tr u c tio n u p w a rd s o f $50 0 ,0 0 0 , all o f w h ich has been
ch a rg ed t o ex p e n s e a c c o u n t .
T h e m in in g p ’ ope>ties o w n e d are lo c a te d at P h e n lx , In th e Y a le D is tr ic t,
B . C . , an d con sist o f 27 m ineral cla im s, co m p r is in g a to ta l area o f 770 a cre s.
T h e to t a l ore In sigh t Is be tw e e n 6 ,0 0 0 ,0 0 0 an d 1 0 ,000,000 t o n s . T h e d a lly
c a p a c it y o f th e c o m p a n y ’ s m in in g p la n ts Is be tw e e n 4,0 0 0 a n d 6,0 0 0 to n s
o f ore. T h e O' C is low g ra d e , th e reco v e rie s av e ra g in g fo r th e y ear e n d in g
Jun e 30 1906 24.3 lb s . o f c o p p e r , .3107 o u n ce s o f silver a n d .0513 o u n c e s
o f gold p er t o n .
T h e c o m p a n y ’ s m in es a t P h e n ix are c o n n e c te d w ith its
s m eltin g p la n t at G -a n d F o rk s, B . C .. a d ista n ce o f a b o u t 20 m iles, b y
b r a n c h lines o f th e G reat N o rth e rn an d C a n adian P a cific ra ilro a d s. T h e
ore sh ip m en ts are m a d e o v e r b o t h ro a d s .
T h e e q u ip m e n t o f th e m in in g
p la n ts con sists o f 148 ore cars. 11 m iles o f tr a c k . 4 steam lo c o m o tiv e s , electrlc-U g h tln e p la n t, w a te r sy s te m , p ip e lin es (air an d s te a m ), ore b in s ,
steam sh o v e ls , m a ch in e drills an d drill cor.’ pressors, cru sh er, b o ile r, tr a m ­
w a y a n d sh a ft hou se e q u ip m e n ts , t w o h o te ls , resid e n ce s fo r su p e rin te n d e n t
a n d forem en a n d h ouses fo r th e m e n . T h e m a c h in e r y is a ll m o d e r n , a n d
t h e eq u ip n e n t rep re se n ts a co st o f $45 8,30 4.
*
O ne m ile n o th o f G -a n d F o r k s , B . C ., ate lo ca te d th e c o m p a n y ’ s s m e lt­
in g , c o n v e r t in g a n d p iw er p la n ts , c o n s istin g o f 2 ,0 0 0 acres, In clu d in g 68
t o w n lots In e lty o f G an d F o rk s . T h is p la n t Is e q u ip p e d w ith eigh t blast
fu r n a c e s, a n d has a c a p a c it y o f 3,8 0 0 to n s o f ore per d a y . O n th is p r o p e r t y
are o ffic e b u ild in g s, dw e llin gs, blast fu r n a c e s , m a ch in e s h o p , e le ctr lc U ghtln g p la n t, w a te r-s u p p ly lines, ore b u n k c s, bin s an d trestles a n d o th e r
b u ild in g s.
T h e s n e lte r e q u ip m e n t c o s t $ 6 2 8 ,0 0 5 . T h e c o n v e r te r p la n t
a n d e q u ip m e n t c o s t $ 1 2 8 ,4 9 2 . T h e p o w e r p la n t , co n s istin g o f a p o w e r
station-, flu m e, d im , s u b m e rg e d la n d s a n d tr a n s fo rm e r s ta tio n represents,
a c o s t o f $ 2 4 8 ,9 3 8 .
A ll o f th e a b o v e -m e n tio n e d p ro p e rtie s are o w n e d In fee a n d are u n e n ­
c u m b e r e d . T h e c o m p a n y has n o D onded d e b t , a n d is fre e fro m all d e b t ,
e x c e p t fo r cu rren t m o n th ly a c c o u n t s .
T h ere are n o o u t s ta n d in g cla im s
h ostile t o th e title o f th e c o m p a n y t o a n y o f Its p r o p e r tie s .
T h e net ea n in es fo r th e ye a rs e n d in g June 30 1901, 1902, 1903 a n d 1904
were $ 1 6 1 ,5 1 6 , $ 2 3 6 ,5 5 6 , $29 5,46 3 a n d $292,321 r e s p e c t iv e ly .




403

R E S U L T S F O R Y E A R S E N D IN G J U N E 30.
190 4 -0 5 .
190 5-0 6.
T o n s o f d r y ore m i n e d ................................ ..........................
796 ,1 8 8
5 5 0 ,7 3 8
36,158
do
do
p u r c h a s e d ____________________________
3 9 ,3 8 2
Y ie ld th e re fro m — R efin ed c o p p e r , lb s _______________ 1 9 ,9 3 9 ,0 0 4
1 4 ,2 3 7 ,6 2 2
do
do
S ilv e r, o u n c e s ______________________
316 ,947
2 1 2 ,0 8 0
5 0 ,0 2 0
do
do
G o ld , o u n c e s _______________________
4 2 ,8 8 4
N et p ro ce e d s sale o f refin ed c o p p e r __________________$3,545,651
$ 1 ,7 6 7 ,6 9 2
N et p ro ce e d s sale o f g old a n d s liv e r _________________ 1 ,2 0 5 ,4 0 8
9 8 1 ,4 5 3
S to re a n d re n t p r o fit s _________________________________ __________
8 ,7 2 5
$ 4 ,7 5 1 ,0 5 9
D ed u ction —
M in in g .................... ................................................_ ..................... $84 1,53 1
F re ig h t, m in e s t o s m e lte r _____________________________
202 ,6 8 7
S m e ltin g a n d c o n v e r t in g _______________________________ 1 ,2 8 3 ,2 4 6
In te r e s t_____________________ _______________ ___________
2 3 ,0 3 2
F oreign ore p u r c h a s e d ________________________________
2 3 0 ,2 7 7
F re ig h t b lis te r c o p p e r t o N . Y . a n d c o s t r e fin in g
a n d s e l l i n g .................................. .......................... ................
3 4 6 ,6 6 9
G eneral e x p e n s e s — In su ra n ce , t a x e s , & c ____________
See
T o t a l d e d u c t i o n s .___________________________________ $2,9 2 7 ,4 4 2
N et p r o fits fo r y e a r ____________________________________$ 1 ,8 2 3 ,6 1 7

$ 2 ,7 5 7 ,8 7 0
$ 6 3 2 ,5 4 8
1 3 8 ,7 5 7
919 ,791
1 7 ,3 5 3
2 3 8 ,5 3 2

“ x”

9 8 ,2 4 1

$ 2 ,0 4 5 ,2 2 1
$ 7 1 2 ,6 4 9

x G eneral e x p e n se s, in su ra n ce , ta x e s , & c ., In 1905-06 are a p p o r t io n e d
a b o v e t o m in in g , s m e ltin g a n d c o n v e r t in g e x p e n s e s .
B A L A N C E S H E E T J U N E 30 1906.
A s s e ts ($ 1 6 ,1 5 1 ,6 4 2 )—
I L ia b ilities ($ 1 6 ,1 5 1 ,6 4 2 ) —
C ost o f la n d , m a c h in e r y ,
C a p ita l s t o c k ____________ $15
b u ild in g s , & c _________ $ 1 4 ,8 9 5 ,0 4 4 ) In t r e a s u r y _______________
1
S t o c k , b o n d s , bills r e c e lv ’
4 5 ,4 2 9 .
IS to c k o u t s ta n d in g _______ $13
C o p p e r in tr a n s it a n d
798,478| A c c o u n ts a n d b ills p a y o n h a n d ________________
184,2041
able cu rre n t fo r m o n th
F u el a n d store s u p p lie s . _
225 ,3 5 6 |“ D iv id e n d s c o lle c te d on
Cash in b a n k _____________
1 ,8 2 2 | liq u id a to r sh a re s ______
U n earn ed In surance p a id
N . Y . o ffic e a c c o u n t ------1 ,3 0 9 |S u r p lu s _____________ _____
2

000,000
500,00®
5 0 0 ,0 0 0
10 2 ,4 6 7
1 ,4 3 6
5 4 7 ,7 3 9

* L iq u id a to r s ’ shares are shares h e ld b y liq u id a to r o f c o m p a n ie s a c q u ir e d ,
n o t y e t tak en u p an d e x c h a n g e d b y th e sto c k h o ld e r s o f th o s e c o m p a n ie s
fo r s to c k o f th is c o m p a n y .
T h e c o n d it io n o f th e c o m p a n y Is b e t t e r n o w th a n o n Ju n e 30 1906 a n d
th e su rp lu s o n th is d a te is a t le a st $ 2 ,7 5 0 ,0 0 0 .
O ffic e r s .— J . L a n g e lo th , P re s id e n t; J a y P . G ra ve s, G eorg e C. C lark J r .,
G eorg e M . L u th e r, V ic e -P r e s id e n ts ; G . W . W o o s t e r , T reasu rer; N o rth r u p
F o w le r, S ecre ta ry .
D ir e c to rs .— G eorge F . B a k er J r ., G eorg e C ra w fo rd C lark , G eorg e C ra w ­
f o r d C lark J r ., B e rth o ld H o ch s ch lld , A r th u r C. J a m e s, J. L a n g e lo t h ,
G eorg e M artin L u th e r, W illia m H . N ich o ls , S a n fo r d H . S teele, E d w ia
T h o r n , P a y n e W h it n e y , all o f N ew Y o r k C ity ; J a y P . G ra ve s, A . L . W h it e ,
o f S p o k a n e , W a s h .; H . L . H ig g ln s o n , o f B o s to n , M ass.; W . H . R o b in s o n ,
o f G ra n b y , Q u e b e c.
P r in c ip a l o ffic e is at G rand F o rk s , B . C.
N ew Y o r k o ffic e , 52 B r o a d w a y ,
M a n h a tta n .— V . 84, p . 628.

Am erican Agricultural Chemical Com pany.
Y e a r e n d i n g J u n e 30 1907.)
Treasurer Thos. A . D oe, New Y ork, A ug. 14 1907' says:
{R ep o rt fo r F is c a l

A fte r d e d u c tin g $3 4 1 ,7 4 5 set aside as r e s e r v t fo r co n tin g e n c ie s , fre ig h ts ,
& c ., $10 0 ,0 0 0 fo r fire in su ran ce reserv e an d $34 1 ,6 2 3 ch a rg ed o il for
im p ro v e m e n ts , b e tte r m e n ts an d ren e w a ls, th e re re m a in e d as n et p r o fits
$ 2 ,1 5 2 ,6 2 1 .
T h e to t a l su rplu s o n Ju n e 30 1907, a fte r d e d u c tin g t w o
s e m i-a n n u a l d iv id e n d s , w as $ 4 ,0 9 1 ,0 0 2 , th e a d d itio n fo r th e y e a r b e in g
$ 1 ,0 5 7 ,2 0 1 .
A lth o u g h th e c o m p a n y has fo r yea rs o w n e d e x te n s iv e p h o s p h a te m in in g
p r o p e r tie s , th e g r o w th o f th e business as w ell as th e fa c t th a t th e v a lu a b le
p h o s p h a te p r o p e r tie s w e re b e in g fa s t ta k e n u p , in d ica te d th a t it w as t h e
p a rt o f w is d o m t o m a k e a d d itio n a l p r o v is io n fo r th e fu tu r e . A c c o r d in g ly
n ew an d v e r y v a lu a b le p h o s p h a te p ro p e rtie s w e re p u rch a s e d an d then ece ssa ry p la n ts e re c te d an d e q u ip p e d , so th a t t h e c o m p a n y n o w has in
h a n d a s u p p ly o f p h o s p h a te r o c k w h ic h w ill s a tisfy its g r o w in g d e m a n d
fo r 6 0 y e a r s a n d u p w a rd s .
I t w as also fo u n d a d v is a b le , in o r d e r t o p r o v id e
f o r th e g r o w th o f th e bu sin ess, t o c o n s tr u c t an d e q u ip a d d itio n s t o a n u m b e r
T h e c o m p a n y a cq u ire d th e ch a rte r an d o w n s th e en tire ca p ita l s t o c k o f
th e C h a rlo tte H a r b o r & N o rth e r n R y . C o ., th e c o n s t r u c tio n o f w h ic h h a s
b een p a id fo r b y th is c o m p a n y .
T h e ro a d is n o w c o m p le te a n d In o p e r a tio n
fro m th e p la n t o f th e P e a ce R iv e r P h o sp h a te M in in g C o . t o d eep w a te r at
C h a rlo tte H a r b o r , F la . A fu rth e r e x te n s io n o f th is ra ilro a d w ill rea ch t h e
p rin c ip a l p h o s p h a te m in in g d is tric t o f F lo r id a , In w h ic h are lo c a te d o th e r
a n d e x te n s iv e m in es M lon g in g t o this a n d o th e r c o m p a n ie s , a n d a rran ge­
m en ts w ill b e m a d e fo r c o n n e c tio n s w ith tru n k r a ilw a y s , w h ic h w ill g r e a tly
fa c ilita te th e s h ip p in g o f th e c o m p a n y ’ s p h o s p h a te r o c k .
T h e c o m p a n y has 51 b ra n ch e s , o f w h ic h 29 are m a n u fa c tu r in g p la n ts ;
it also o w n s an d op e ra te s 5 p h o s p h a te m in in g p la n ts .
S in ce its o r g a n iz a ­
t io n In 1809 it has a cq u ire d 24 a d d itio n a l m a n u fa c tu r in g o r sellin g c o m ­
p a n ie s, a n d has e x p e n d e d in cash a b o u t $ 4 ,1 0 0 ,0 0 0 fo r p h o s p h a te m in in g
p r o p e r tie s , o th e r real esta te an d n e w co n s tr u c tio n .
It has a lso, d u r in g
th e sam e tim e , e x p e n d e d in cash a b o u t $ 2 ,5 0 0 ,0 0 0 fo r b u ild in g s an d m a ­
c h in e r y , w h ich la s t-n a m e d a m o u n t has c o m e o u t o f earn in gs an d b e e n
c h a rg e d o ff.
S in ce th e o r g a n iz a tio n o f th e c o m p a n y , th e loss th r o u g h b a d
d e b ts has a m o u n te d t o less th a n
of 1 %.
T h e business has in crea sed s te a d ily , th o u g h p rice s h a v e b e e n k e p t l o w ,
n o tw ith s ta n d in g a c o n s id e ra b le increase in th e c o s t o f raw m a teria ls; t h e
m a n a g e m e n t b e lie v in g in th e p o lic y o f large sales w ith a sm all p e r c e n ta g e
o f p r o fit.
T h e bu sin ess is in a p r o s p e r o u s c o n d it io n , a n d its p r o s p e c ts fo r
th e fu tu re w ere n e v e r b r ig h te r th a n th e y are t o -d a y .

The incom e account and balance sheets are shown below:
IN C O M E A C C O U N T .
19 0 6 -0 7 .
1 90 5-0 6.
P r o fits fro m —
P ro p e rtie s o w n e d and
c o n t r o l l e d ____________
O t h e r s o u r c e s ....................
T o t a l I n c o m e ..................
Less general r e se rv e ____
C h arged o ff fo r im p r o v e ­
m e n ts . b e t t e r m ’ts , & c.

1 9 0 4 -0 5 .

19 0 3 -0 4 .

$

$

$

S

2 ,7 5 8 ,1 8 2
177 ,807

2 ,3 8 8 ,4 6 3
165 ,2 2 4

2 ,1 3 3 ,8 0 7
1 72 ,655

1 ,9 8 4 ,0 2 5
1 64 ,902

2 ,3 0 6 ,4 6 2
251 ,8 8 5

2 ,1 4 8 ,9 2 5
3 3 8 ,1 8 6

2 ,9 3 5 ,9 8 9
4 4 1 ,7 4 5
3 4 1 ,6 2 3

2 ,5 5 3 ,6 8 7
390 ,9 9 8
3 8 8 ,3 7 4

T o t a l ................................
P r o f i t s .................... , ______
6 % o n p re fe rre d s t o c k . .

7 8 3 ,3 6 8
2 ,1 5 2 ,6 2 1
1 ,0 9 5 ,4 2 0

7 7 9 ,3 7 2
1 ,7 7 4 ,3 1 5
1 ,0 7 4 ,0 9 0

S u r p l u s ............................

1,0 5 7 ,2 0 1

7 0 0 ,2 2 5

4 1 9 ,3 8 9

6 4 8 ,1 5 4
1 ,5 0 0 ,7 7 1
1 ,0 7 1 ,9 8 1 -

555 ,651

4 2 8 ,7 9

B A L A N C E S H E E T J U N E 30.
1907.

190 6.
A s s e ts —
$
$
R e a l e s t a t e . . . ________________ ______ _
2 ,3 0 9 ,1 4 2
2 ,3 1 0 ,1 7 8
B u ild in g s an d m a c h in e r y ______________
5 ,5 0 9 ,7 7 6
5 ,3 2 0 ,5 2 4
L ig h te r s , tu g s , t o o ls , & c . ____________
9 4 9 ,1 1 2
9 0 8 ,1 5 7
P r o p e r t y p u rch a se d a fte r o rg a n iz a tio n 1 ,2 0 3 ,0 1 6
1 ,2 1 4 ,2 4 7
C h a rlo tte H a r b o r & N . R y . in v e s t m ’t
7 8 4 ,0 8 2
P h o sp h a te p r o p e r t ie s _________________
2 ,0 7 6 ,2 7 0
1 ,3 1 7 ,6 1 5
S c h o o n e r s ________________ _______ ______
7,9 2 7
1 9 ,5 5 0
B ra n d s, tr a d e -m a rk s , p a te n ts , & c ___ 1 6 ,5 1 7 ,8 7 9
1 6 ,4 9 3 ,4 5 7
P re fe rre d s t o c k in t r e a s u r y ___________
1 ,6 1 8 ,0 0 0
1 ,8 6 8 ,0 0 0
C o m m o n s to c k In tr e a s u r y ____________
2 ,8 8 5 ,9 0 0
2 ,8 8 5 ,9 0 0
A c c o u n t s r e c e iv a b le ___________________
9 ,7 5 5 ,0 9 6
8 ,8 0 2 ,6 6 7
B ills r e c e iv a b le ________________________
2 ,0 4 7 ,2 4 4
1 ,7 1 1 .0 1 0
M erch an dise and s u p p lie s ____________
4 ,9 1 9 ,7 8 1
4 ,4 4 2 ,9 4 8
In su ra n ce u n e x p lr e d ___________________ \
109 ,832
8 9 ,3 9 0 /
T a x e s an d licenses u n e x p lr e d ________ J
______________________ \
C ash In b a n k _____________ _____________
7 0 2 ,1 4 4
4 8 3 ,0 8 1
T o t a l a s s e ts .......................1 .....................

5 1 ,3 9 5 ,2 0 1

309 ,9 6 8

6 7 1 ,2 7 4
1 ,6 3 5 ,1 8 8
1 ,0 7 9 ,5 3 7

4 7 ,8 6 6 ,7 2 4

190 5.

$

2 ,3 7 1 ,1 2 3
5 ,1 0 1 ,7 8 3
8 4 0 ,5 7 5
1 ,0 2 9 ,6 0 9
1,0 5 1 ,6 2 1
26,067
1 6 ,3 5 9 ,5 6 6
2 ,1 1 8 ,5 0 0
2 ,9 2 8 ,4 0 0
7 ,5 9 0 ,4 1 6
1 ,7 0 3 ,1 4 7
4 ,3 2 6 ,5 0 4
7 2 ,5 9 0
27,719
8 23 ,937
4 6 ,3 7 1 ,5 5 6

404
1007.
L ia b ilities —
$
S t o c k , c o m m o n ________________________ 2 0 ,0 0 0 ,0 0 0
S t o c k , p r e f e r r e d _______________________ 2 0 ,0 0 0 ,0 0 0
C u rren t a c c o u n ts _______________________ \
7 6 6 ,3 0 8
A c c r u e d ta x e s __________________________J
N o te s p a y a b le ____ _____________________* 5 ,8 1 0 ,0 0 0
G eneral x-eserve________________________
4 5 0 ,8 0 8
R e s e r v e fo r r en ew a ls___________________
131,161
R e s e r v e fo r Insurance an d in t e r e s t ___
1 45 ,922
4 ,0 9 1 ,0 0 2
P r o fit an d loss, s u r p l u s _______________

THE CHRONICLE.
190 6.
$
2 0 ,0 0 0 ,0 0 0

[V o l .

lxxxv

.

1905.
$

$ 1 ,2 5 0 ,0 0 0 first m o r tg a g e b o n d s , an d th e c o m m itte e is in fo r m e d th a t it has
n o w a cq u ire d $ 6 ,3 3 0 ,0 0 0 o f th e $ 7 ,2 5 0 ,0 0 0 o f th e general m o r tg a g e b o n d s ,
a n d has Increased its h o ld in g o f s t o c k .
•*.
2 0 ,000,000
In a c c o r d a n c e w ith th e p r o v is io n s o f th e m o r tg a g e th e c o m p a n y p r o p o s e d
418,707|
451 ,1 2 7
t o ta k e u p th e o u t s ta n d in g In co m e b o n d s an d t o s u b s titu te th e r e fo r a b o n d
13,295
at a fix e d rate o f In te re st. T h re e p er ce n t w as first su g g e s te d , b u t sin ce th e
2 ,8 0 0 ,0 0 0
3 ,8 5 0 ,0 0 0
a fo re s a id m e e tin g C harles S. M ellen, P re sid e n t o f th e c o m p a n y , a n d also
4 94 ,512
41 0 ,3 1 3
P re s id e n t o f th e N ew Y o r k N e w H a v e n & H a r tfo r d R R . , has s ta te d th a t
8 5,971
2 7 9 ,0 4 5
“ i f th e re Is a n y s u b s ta n tia l u n a n im ity o n th e p a r t o f th ese b o n d h o ld e rs in
67,932
a d v is in g m e o f a c c e p ta n c e o f th e sa m e ” th e in te re s t w ill be m a d e 4 % .
3,0 3 3 ,8 0 2
2 ,33 3 ,5 7 7 .
T h e c o m m itte e is a d v is e d b y c o u n s e l th a t th e r e la tio n s o f th e N ew Y o r k
N e w H a v e n & H a r tfo r d R R . t o th e C en tral N e w E n g la n d R y . C o. a ie such
T o t a l lia b il i t i e s --------------------------------- 5 1 ,3 9 5 ,2 0 1
4 7 ,8 6 6 ,7 2 4 4 6 ,3 7 1 ,5 5 6
t h a t th e fo rm e r c o m p a n y ca n be re stra in e d fro m e x e r tin g in flu en ce u p o i'
th e d ir e cto r s o f th e la tte r c o m p a n y o r Its v o t in g tru s te e s t o secu re a c tio n
♦ N otes p a y a b le w ere lre d u ce d d u r in g m o n th o f J u ly b y o v e r SI ,0 0 0 ,0 0 0 .
p r e ju d ic ia l t o th e m in o rity h old ers o f th e general m o r tg a g e b o n d s .
T h e re ­
- V . 84, p . 272.
fo re It seem s d e sira b le t h a t th e b o n d h o ld e rs sh o u ld a c t t o g e th e r in a s c e r ­
t a in in g th e e x a c t fa c ts an d in co n s id e r in g th e p r o p o s it io n m a d e t o th e m b y
Great W estern Cereal Co.
M r. M ellen.
A tte n t io n is re q u e s te d t o th e ag re e m e n t o f w h ic h a c o p y is e n c lo s e d ,
(Balance
Sheet April 30 1907.)
a n d i f th e sam e m e e ts w ith y o u r a p p r o v a l th e d e p o s it o f y o u r b o n d s w ith
1907.
1906. |
1907.
1906.
T h e P e n n s y lv a n ia C o . fo r In su ra n ce s o n L iv e s & G ra n tin g A n n u itie s , 517
Assets—
$
S
i Liabilities—
$
C h estn u t S t ., P h ila d e lp h ia , as d e p o s it a r y , is in v ite d .
$
Property accounts ..4 ,2 5 2 ,9 8 3 4,246.552 |Preferred stock _____ 500,000
500,000
[T h e a g r e e m e n t here referred t o a u th o riz e s th e co m m itte e t o a c c e p t In
N otes & accts. rec___ 278,865
216 ,7741Common s t o c k ....................2,500,000 e x c h a n g e f o r th e b o n d s o f th e d e p o s ito r s e ith e r p a r in cash o r fix e d in terest
2,500,000
C a sh on h a n d _____ _
45,929
50,5871Bond issue_1,025,000 1,114,500
b o n d s , e ith e r g u a ra n te e d or u n g u a r a n te e d , b e a rin g n o t less th a n 4 %
Inventories at c o s t .. 571,001
469 ,6531Notes p a y a b le ..................... 481,400
599,000 i n t e r e s t , an d w ith o r w it h o u t a llo w a n c e fo r in te re st h e re to fo re e a r n e d . I f
Unexpired insurance.
10,642
10,290 i A ccounts payable__________ 88,789
110,796 b y F e b . 10 1908 th e c o m m itte e is u n a b le t o e ffe c t a s a tis fa c to r y s e ttle m e n t,
teS
|
Surplus accounts__ 424,624
309,167
th e b o n d s are t o be re tu r n e d , o r in case c o u n se l a d v ise s th a t litig a tio n m ay
be u n d e rta k e n w ith re a so n a b le h o p e o f s u cce ss, th e d e p o s ito r s w ill h a v e
T o t a l_____________ 5,159,420 4,993,856 | T otal_____________ 5,159,420 4,993,856
th e o p t io n o f w ith d r a w in g th e ir b o n d s on p a y in g th e ir share o f th e ex p e n s e s
— V. 83, p. 434.
o f th e c o m m it t e e , o r o f le a v in g th e ir b o n d s o n d e p o s it w ith th e c o m m itte e
o n c o n d it io n s th e n t o b e o ffe r e d .]— V . 8 5 , p . 220 .

,
2 0 ,000 ,0 0 0

2 0 000,000

G E N E R A L IN 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 STREET RO AD S.
Birm ingham (A la.) Terminal C o.— Guaranteed Bonds
Offered.— W m . Salomon & Co. and Potter, Choate & Pren­
tice , New Y ork, and Parkinson & Burr, New Y ork and
Boston, are offering at 9 3 ^ and interest the unsold portion
o f $1,500,000 of an authorized issue of $3,000,000 first
m ortgage gold 4 % bonds, dated March 1 1907 and due March
1 1957, the remainder being reserved for additional properties.
Principal and interest (March 1 and Sept. 1) payable in New
Y ork City. A circular says in substance:
T h ese b o n d s are s e cu re d b y a first m o r tg a g e o n th e n e w p a ssen ger te r ­
m in a ls a t B ir m in g h a m , A l a ., n o w in p r o c e s s o f c o n s t r u c tio n , fo r th e a c ­
c o m m o d a t io n o f th e p a sse n g e r tr a ffic h a n d le d b y th e fo llo w in g six ra ilro a d s ,
w h ic h o w n th e en tire c a p ita l s t o c k o f th e T e r m in a l C o . a n d g u a ra n te e
jo in t l y , b y e n d o r s e m e n t, b o t h p r in c ip a l a n d in te re st o f th e a b o v e b o n d s:
Illin o is C en tral R R .
|C en tral o f G eorg ia R y .
S o u th e r n R y .
I S t. L o u is & San F r a n cis c o R y .
S e a b o a r d A ir L in e R y .
|A la b a m a G rea t S o u th e rn R y .
T h e a b o v e -m e n t io n e d six p r o p r ie ta ry c o m p a n ie s ag ree t o use th e B ir­
m in g h a m ter m in a l a n d n o o th e r d u r in g t h e life o f th ese b o n d s .
T h e su rplu s
e a rn in g s o f th ese c o m p a n ie s fo r th e p a s t y e a r , a fte r p a y m e n t o f all fix e d
c h a r g e s ,a m o u n t e d t o ,a p p r o x i m a t e l y , $ 2 1 ,0 4 1 ,0 0 0 ,w h ile th e In terest ch arge
o n th e a b o v e a u th o r iz e d issu e o f te rm in a l b e n d s a m o u n ts t o o n ly $ 1 2 0 ,0 0 0 .
T h e c it y o f B ir m in g h a m , situ a te d in th e ce n tre o f th e m o s t e x te n s iv e
c o a l a n d Iron d is tric t o f th e S o u t h , has a p re se n t p o p u la tio n o f a b o u t
6 0 ,0 0 0 , s h o w in g an in cre a se in th e last six y e a rs o f 43 % .
D u r in g th e p ast
s ix y e a r s th e b a n k d e p o s its in B irm in g h a m h a v e in cre a se d 112 % , a m o u n tin g
o n J a n . 1 1906 t o o v e r $ 1 7 ,0 0 0 ,0 0 0 , w h ile h an k cle a rin g s fo r th e p a s t y e a r
e x c e e d e d $ 1 0 0 ,0 0 0 ,0 0 0 .
The" to n n a g e o f th e c it y o f B irm in g h a m e x c e e d s
t h a t o f th e en tire S ta te o f G e o rg ia .
T h e c it y is s e rv e d b y se ve n d iffe re n t
r a ilr o a d s , six o f w h ic h are g u a r a n to r s o f th e B irm in g h a m te rm in a l b o n d s .—
V . 8 3 , p . 122 7.
^

B rook ly n Rapid Transit Co.— Transfer Decision Holding
Cumulative Penalties Not Collectible.— The Appellate Division
o f the Supreme Court in Brooklyn on July 26 affirm ed the
decision of the low er court, which dismissed the action
brought b y Joseph Harkow to recover damages for refusal
to give a transfer on the ground that the action was barred
b y a subsequent suit for a later refusal.
J u s tic e G a y n o r w r o t e a v ig o r o u s d isse n tin g o p in io n , a n d r e fe rrin g t o th e
d e c is io n o f th e h igh est c o u r t in th e case o f G riffin v s . In te r u r b a n S treet R y .
(see M e tro p o lita n S tre e t R y . ite m , V . 7 9 , p . 2 5 8 8 ), s a y s t h a t he d o e s n o t
th in k it w as th ere in te n d e d t o h o ld th a t all p e n a ltie s in c u r re d p r io r t o one
o n w h ic h ju d g m e n t Is o b t a in e d are c o n d o n e d , fo r i f th is w e re th e case “ th e
o ffe n d e r m a y g o o n o ffe n d in g w ith im p u n ity u n til s o m e a c t io n — th e last
o n e b r o u g h t — rea ch e s ju d g m e n t .” — V . 85, p . 220 .

Report.— A t the hearing before the Public Service Com­
mission on Thursday President Winter presented the fol­
low ing results of operations for the year ending June 30 1907
(subject to change in the annual report):
F is c a l
G ross
N et
O ther
F ix e d
S p e c ia l
B a la n ce ,
Y ear.
ea rn in gs.
ea rn in g s,
in co m e.
charges, a p p r o p r ’ ns. su rp lu s.
1 9 0 6 -0 7 -$ 1 9 ,3 8 1 ,5 8 7 $ 7 ,9 1 5 ,8 8 2 $55 5 ,1 6 6 $ 6 ,0 2 6 ,3 8 6 $ 4 4 2 ,0 6 4 $ 2 ,0 0 2 ,5 9 8
1 9 0 5 -0 6 . 1 8 ,4 7 3 ,3 2 8 8 ,0 3 1 ,9 5 1
3 2 3 ,9 3 6 5 ,6 1 2 ,9 3 4 5 8 0 ,3 4 3 2 ,1 6 2 ,6 1 0
1 9 0 4 -0 5 . 1 6 ,3 3 3 ,4 4 4 6 ,5 2 9 ,5 7 4 2 5 2 ,1 3 6 5 ,1 7 8 ,4 9 1
4 5 3 ,2 8 5
1 ,1 4 9 ,9 3 4
— V . 8 5 , p . 220 .

Buffalo & Susquehanna R y .— Coal Contract.— The com ­
pany has entered into a contract w ith the Pittsburgh Shawm ut & Northern R R . to transport their coal from Belvidere,
where the tw o lines m eet, to the city of Buffalo.— V. 85,
p. 283, 39.
Central New England R y .— Circular to General Mortgage
Bondholders— Deposits Asked.— A com m ittee, consisting of
C. S. W . Packard, W m . H. Gaw and F. M. P otts, with head­
quarters at 517 Chestnut St., Philadelphia, on Aug. 10 1907
s e n t a circular to the holders of the general mortgage bonds,
s a y i n g i n substance:
M r. J osep h M oore J r ., C h a irm a n o f a m e e tin g h e ld J u ly 2 190 7, p r io r t o
h is d e p a rtu r e fo r L u ro p e a p p o in t e d th is c o m m itte e t o re p re se n t h o ld e rs o f
t h e gen eral m o r tg a g e b o n d s .
T h e se b o n d s w ere Issued In th e r e o r g a n iz a tio n
o f th e P h ila d e lp h ia R e a d in g & N e w rm g la n d R R . a n d th e p la n o f r e o r g a n i­
z a tio n in p r o v id in g fo r th e d e p o s it o f th e s to c k o f th e n ew c o m p a n y w ith
v o t in g tr u s te e s re c ite d t h a t " i t is th e in te n t a n d p u r p o s e o f th e v o t in g tru st
t o p r o t e c t a n d a d v a n c e th e in te re s t o f th e n e w gen eral m o r tg a g e b o n d s t o
th e fu llest e x t e n t , a n d th e c r e a tio n o f th e tru s t is an e ssen tia l c o n d itio n
u p o n w h ic h d e p o s its o f b o n d s a n d s t o c k o f th e r a ilro a d c o m p a n y are re­
c e iv e d u n d er th e a g r e e m e n t, an d p a r t ic ip a t io n In p la n o f r e o r g a n iz a tio n is
p e r m it t e d .”
T h e m o r tg a g e u n d e r w h ic h th e b o n d s w e re issu ed p r o v id e s th a t th e c o m ­
p a n y sh all p a y th e p rin c ip a l o f th e b o n d s o n F e b . 1 1949 an d shall p a y such
su m as in te re s t n o t e x c e e d in g 5 % in a n y on e y e a r as th e d ir e c t o r s shall
a n n u a lly d ecla re as th e y e a r ’ s in s ta llm e n t d u e a n d p a y a b le o u t o f th e n et
e a rn in g s o f th e c o m p a n y .
It also p r o v id e s th a t th e c o m p a n y m a y a t a n y
tim e w ith th e c o n se n t o f th e v o t in g tru ste e s d u r in g th e c o n tin u a n c e o f th e
v o t i n g t r u s t, an d w ith th e co n s e n t o f a m a jo r it y o f th e h o ld e rs o f th e b o n d s
a fte r th e te r m in a tio n o f th e v o t in g t r u s t, ta k e u p th e se in c o m e b o n d s and
issu e in e x c h a n g e th e r e fo r c o u p o n b o n d s p r o v id in g fo r p a y m e n t o f in te re st
se m i-a n n u a lly at a fix e d ra te an d h a v in g th e s e c u r ity o f th e general m o rtg a g e
u n d er w h ic h th e In com e b o n d s w e re Issued.
O n Ju n e 30 1906 t h e N ew Y o r k N ew H a v e n & H a r tfo r d R R . h a d a c ­
q u ire d $ 5 ,6 5 9 ,4 0 0 o f th e $ 6 ,6 0 0 ,0 0 0 c a p ita l s t o c k an d $ 1 9 0 ,0 0 0 o f th e




Chicago & A lton R R .— Order to Show Cause.— Judge Hough
in the United States Circuit Court on Aug. 12, on application
of the Inter-State Commerce Commission, issued an order
returnable O ct. 21 next, requiring Edward H . Harriman
and Otto H . K ahn, of Kuhn, Loeb & C o., to show cause why
they should not answer certain questions put to them in the
recent hearings of the investigation of the Commission into
the affairs of the Chicago & Alton and Union Pacific.
Mr. Harriman refused to testify as to the am ount of
Chicago & Alton stock purchased and sold by him , how
much Union Pacific preferred stock he owned and what
the holdings of H . H . Rogers, H. C. Frick and himself
were in Atchison Topeka & Santa Fe stock; also to state
the connection of K uhn, Loeb & Co. with the purchase of
the last-named stock. He further declined to testify as to
the circumstances surrounding the purchase of $10,500,000
Illinois Central stock on Aug. 9 1906 for the Union Pacific,
and to state whether he purchased Southern Pacific stock
at about the time of the declaration of the first dividend, in
October last. Mr. Kahn refused to answer questions in re­
lation to stock transactions on the ground of confidential re­
lations between his firm and its clients.
Probably Imm une.— Judge Landis in the United States
District Court at Chicago, on W ednesday suspended until
Sept. 3, the special grand jury inquiry into the dealings with
the Standard Oil C o., referred to last week. This is done
to enable United States D istrict-Attorney Sims to prepare
a transcript of the proceedings in the recent prosecution of
the Standard Oil C o., in order that the Attorney-General
m ay report whether the railroad com pany, as regarded by
the D istrict-A ttorney, is entitled to the im munity promised
to it by him if it aided the Governm ent.— V. 85, p. 444,283.
Chicago & Illinois W estern R R .— New Stock.— This Illi­
nois corporation has filed a certificate of increase o f capital
stock from $500,000 to $1,000,000.— Y . 83, p. 491.
Chicago R ailw ays.— Lease Confirmed.— Judge Peter S.
Grosscup, in the United States Circuit Court at Chicago, on
Aug. 12 entered an order authorizing the lease of the North
and W est Chicago street railroad properties to the Chicago
Railways Co. An appeal will be heard on fylonday. The
Judge is quoted as saying:
T h o u g h th e lea se a u th o r iz e d w ill b e d ra w n fo r 20 y e a rs , it w as n o t ou r
id e a th a t It w o u ld run fo r th a t le n g th o f t im e , fo r a fte r all o b s tr u c tio n s h a v e
d is a p p e a r e d , w h ich w e h o p e w ill be in t w o o r th re e y e a r s , a clea r title t o
th e p r o p e r t y w ill be g iv e n th e R a ilw a y s C o m p a n y . In th e m e a n tim e , th e
c o s t o f th e r e c e iv e r s h ip , t h o u g h it w ill n o m in a lly b e c o n t in u e d , w ill cea se,
fo r th e re w ill be n o a c t iv e w o rk fo r th e re c e iv e r s t o p e r fo rm .
T h e n e x t b ig th in g t o b e a c c o m p lis h e d w ill b e th e a u th o r iz a tio n o f a first
m o r tg a g e b o n d fo r $ 1 2 ,0 0 0 ,0 0 0 b y th e R a ilw a y s C o m p a n y t o c o v e r th e c o s t
o f re h a b ilita tio n d u r in g th e n e x t th re e y e a r s , a n d th e m o n e y , I b e lie v e ,
w ill b e fo r t h c o m in g p r o m p t ly .

The acceptance of the ordinance of Feb. 11 1907 (V. 84,
p. 1123) must be made before Sept. 15. Anticipating no
further delay, however, the board of supervising engineers
is planning to proceed at once with the work of rehabilita­
tion.
P lan.— The revised reorganization plan has not come to
hand, bu t b y means of the statement issued by the arbi­
trators last week (see our issue of last week and verbatim
report in “ Chicago E conom ist” of Aug. 10), the following is
obtained:
1. First m o r tg a g e 2 0 -y e a r 5 % g o ld b o n d s , s e c u r c d b y first m o r t ­
gage o n all th e p r o p e r tie s an d fra n ch ises o f th e c o m p a n y , t o
p r o v id e fu n d s fo r re h a b ilita tio n s p e cifie d In S e c tio n 7 o f th e
o r d in a n c e .
A m o u n t o f Issue lim ite d In a c c o r d a n c e w ith
th e te rm s o f th e o r d in a n c e , b u t u n r e s tr ic te d as t o to ta l
a m o u n t w h e n an d as so Issued. (N o c h a n g e b y a rb itra to rs) .
------------2. C o n s o lid a te d m o r tg a g e 2 0 -y e a r 5 % b o n d s o f series A, as sec u r t y fo r 5 -y e a r 6 % c o lla te r a l n o te s so ld t o o r g a n iz a tio n
s y n d i c a t e ________________________________________________________ $ 5 ,8 6 7 ,2 0 0
3. C o n s o lid a te d m o r tg a g e 2 0 -y e a r b o n d s o f series A . 4 % fo r five
ye a rs a n d 4 }4 % th e r e a fte r ____________________________________ 9 ,1 3 2 ,8 0 0
4. C o n s o lid a te d m o rtg a g e 2 0 -y e a r b o n d s o f series B. 4 % fo r five
yea rs a n d 4 )4 % th e r e a fte r ____________________________________ 16,9 0 0 ,0 0 0
5. T w e n ty -y e a r 4 % sin k in g fu n d in c o m e d e b e n tu re s, en titled to
th e ben efit o f a sin k in g fu n d In an a m o u n t d esig n ed to
re d eem a n d d isch a rg e p rin cip a l at o r b fe o re m a tu r ity .
In terest p a y a b le If an d w h en ea rn ed ($ 4 ,8 0 1 ,2 0 0 o f this
Issue m a y be d e p o s ite d t o se cu re th e 1 0 -yea r ju n io r co lla te ra l
n otes) __________________________________________________________ 5 ,0 0 0 ,0 0 0
6. F iv e -y e a r 6 % colla te ra l org a n iz a tio n n o te s, to be secu red b y
p le d g e o f $ 5 ,8 6 7 ,2 0 0 co n s o l, m tg e . A (see a b o v e ).
T o ta l
a u th o r iz e d Issue s ta te d t o b e ---------------------------------------------------- 4 ,5 0 0 ,0 0 0
7 . T e n -y e a r 5 % " ju n io r -c o lla t e r a l n o t e s .0 t
s e c u r c d ch ie fly
b y d e p o s it o f $ 4 ,8 0 1 ,2 0 0 2 0 -y e a r • %
c o m e d e b e n tu re s
(p a rt o f a b o v e -s h o w n $ 5 ,0 0 0 ,0 0 0 )
T o 1 a u th o r iz e d Issue
(d iv is ib le in t o series 1 a n d 2) s ta te d t^
____________________ 5 ,0 0 0 ,0 0 0
C a p ita l s t o c k ..................- ...................................... - ...............................
100,000

P a rtic ip a tio n C ertifica tes Issu a b le A g a in st A fo r e s a id S tock— N o P a r V a lu e.
8. Series A e n title d t o r e c e iv e n e t a n n u a l in c o m e r e m a in in g
a fte r in te re s t an d s in k in g fu n d on p r io r o b lig a tio n s p a id t o
th e e x t e n t o f 8 % o n ce r tific a te s o f th e n o m in a l v a lu e o f
$100 e a c h , an d t o p r io r it y in b o t h in te re st an d p rin cip a l
£ 1 3 2,50 0
p a y m e n ts o v e r series B an d series C _________________________
0 . Series B e n title d t o r e c e iv e n e t a n n u al in c o m e re m a in in g a fte r
In terest an d sin k in g fu n d o n p r io r o b lig a tio n s p a id to th e
e x t e n t o f 8 % on ce r tific a te s o f th e n o m in a v a lu e o f $100
e a c h , a n d t o p r io r it y In b o th in terest a n d p rin cip a l p a y ­
2 60 ,000
m en ts o v e r series C _____________________________________________
10. Series C s u b je c t t o th e p rlo rjrlg h ts o f series A an d series B - .T50.000
x T h is Is th e n u m b e r o f sh a res, n o p a r v a lu e b ein g assign ed.
-T o B e E xch a n ged f o r • • • •
------------B o n d s.------------ a— P a rticip a tio n C tfs .—
E x is tin g S ecu rities—
C on . A . C on . B . D eb en . “ A . "
" B ."
“ C .”
N o rth Chi. C ity 1st & 2d M .. 1 0 0 %
..........
...........
...........................
...........
C h ic a g o W e s t D lv . 1st M ____ 1 0 0 %
_____
______
______
______
______
N o rth C h ic. S t. R R . 1st 5 s _ - 2 0 %
80%
...........
.....................................
do
d o R e f. 4 > £ s ____
100%
______
______
______
______
W e s t C h ic . S t. R R . 1st M . . . 2 0 %
80%
...........
...........
...........................
do
do
C o n s o l s ____
100 %
______
______
______
______
do
Certs, o f I n d . ____
60%
40%
______
______
______
C h ic a g o P a ss . R y . C o n s o ls ___ ______
100 %
______
______
______
______
W e s t C h. S t. R R . T u n . 1st M . 5 0 %
50%
______
______
______
______
N o . C h ic. C ity R y . s t o c k ____ ______
180%
______
371%
______
____ C h ic. W e s t D lv . R y . s t o c k - . ____
80%
______
339%
______
______
C h ic a g o P a ss. R y . s t o c k ____________
25%
______
43%
______
______
N o rth C h ic. S t. R R . s t o c k ___ ______
______
______• 81 H % _______
______
W e s t C h ic. S tree t R R . s t o c k . ____
______
______
51 %
______
______
Ch. U n io n T r . C o. c o m . s t o c k ____
______
______
______
______
25%
do
d o p r e f. s t k . ........
...........
.........................
50%
______

Opposition.— There is dissatisfaction with the plan on the
part of the holders of some of the old securities. A committee
consisting of James N. W allace, Hugo Blumenthal and
Frederick H. Ecker, with Joline, Larkin & Rathbone as
Counsel, and F. L. B abcock as Secretary, 54 Wall St.,
New Y ork City, makes the follow ing announcement to the
holders of 5 % consolidated mortgage bonds of the W est
Chicago’ Street R R . C o.:
R e c e n t p r o c e e d in g s in th e U n ite d S tates C ircu it C ou rt In C h ica g o in d ica te
t h a t a p la n o f r e o r g a n iz a tio n o f t h e p r o p e r tie s o f th e C h ica g o U n io n T r a c tio n
C o. w ill be fo r c e d t h r o u g h w ith th e p o s s ib le e ffe c t o f d e s tr o y in g t h e s e c u r ity
o f y o u r b on d s.
In o r d e r t o p r e v e n t disa stro u s c o n s e q u e n ce s t o y o u r
in te re sts , th e u n d e rs ig n e d , a t th e re q u e s t o f t h e h old ers o f a la rge n u m b e r
o f th e c o n s o lid a te d m o r tg a g e b o n d s , h a v e co n s e n te d t o a ct as a c o m m itte e
o n b e h a lf o f b o n d h o ld e rs .
U p t o a n d in c lu d in g S e p t. 16 1907, b o n d s w ill
be r e c e iv e d b y C en tral T r u s t C o. o f N e w Y o r k , N o . 54 W a ll S t ., N ew Y o r k ,
as d e p o s it a r y .
B o n d s d e p o s it e d m u st b e a r th e c o u p o n m a tu r in g N o v . 1
190 7, a n d all s u b s e q u e n t c o u p o n s .— V . 8 5 , p . 346 , 34 4 , 159.

Chicago Terminal Transfer Co.— Offer for M inority Pre­
ferred Stock.— The stockholders’ protective committee (V. 84,
p. 867) has issued a circular to the holders of preferred stock
deposited with it, inform ing them that a conditional offer has
been received of $25 a share for their holdings, payable on or
before Oct. 1. The circular says:
T h e c o m m it t e e Is u n a n im o u s ly o f th e o p in io n th a t th e o ffe r sh o u ld b e
a ccep ted .
T h e p re fe rr e d s to c k h o ld e r s are a sk e d t o fo rw a r d th eir ce r tifi­
c a te s b e fo r e S e p t. 1 t o th e N e w Y o r k T ru s t C o ., N o . 26 B r o a d S tre e t, w h ich
w ill Issue tr a n s fe ra b le r e c e ip ts p e n d in g d e liv e ry o f th e s t o c k an d p a y m e n t
th e r e fo r .

The offer is supposed to be made on behalf of the Balti­
more & Ohio R R ., although the identify of the purchaser is
n ot disclosed, and to foreshadow the termination of the pend­
ing litigation.— V. 85, p. 283.
Duluth South Shore & Atlantic R y .— Report.— The re­
sults for the fiscal year ending June 30 were:
Y ear—
G ross.
1 9 0 6 -0 7 ......................... $ 3 ,3 1 1 ,8 7 8
1 9 0 5 -0 6
3 ,0 5 7 ,7 7 5
— V . 83, p . 815.

N et.
$ 9 9 1 ,0 2 0
1 ,0 0 0 ,3 1 6

O th.Inc. In t.& taxes. B a l., def.
$ 8 ,930
$ 1 ,0 5 5 ,4 8 7
$55 ,536
9,113
1 ,1 6 5 ,7 6 5
156 ,336

Erie R R .— Dividend.— It is understood that some of the
directors favor the paym ent of the next semi-annual dividend
on the preferred shares in scrip.
Car Trusts.— The com pany on Thursday applied to the
Public Service Commission (No. 2) for authority to issue
about $8,000,000 car trust certificates.— V. 84, p. 1488.
Florida East Coast R y .— Cessation of& ork.— A technical
W
paper has the following:
T h e F lo r id a B a st C o a st R y . has r e c e n tly ta k e n s te p s t o re d u ce exp e n se s
In Its c o n s tr u c tio n a n d o p e r a tin g d e p a rtm e n ts .
W o r k on th e e x te n sio n
has been s t o p p e d s o u th o f K n ig h ts K e y an d fo u r o f th e b e st tra in s h a ve
been ta k e n o ff.
P ress r e p o rts q u o te o n e o f th e ra ilw a y e n g in eers as sa y in g
th a t th e c o n s tr u c tio n w o r k w as s to p p e d b eca u se o f tr o u b le w ith th e N a v y
D e p a r tm e n t, a n d a n a v y o ffic ia l is q u o t e d as d e n y in g th is.

We are inform ed that the work has been merely tem po­
rarily stopped because of the scarcity of labor.— V. 85, p .220.
Forest City R y ., Cleveland.— Omnibus “ Curative” Ordi­
nance.— A t a special meeting of the City Council on Aug. 1
a com m unication was received from the com pany announc­
ing that it has liquidated or secured the cancellation and sur­
render o f all obligations guaranteed b y Mayor Johnson,
“ so that there is no longer the least possibility of any loss
to Mr. Johnson, directly or rem otely, for or on account of
any of the guaranties alleged to have been signed b y h im .”
T h e C ou n cil on A u g . 3 pa sse d th e “ c u r a t iv e ” o r d in a n c e s u b m itte d b y th e
c o m p a n y a m e n d in g all o f th e 12 o rig in a l o r d in a n c e s g r a n tin g fra n ch ises t o
A lb e r t E . G reen an d th e F o r e s t C ity R y . an d r e -e n a c tin g th e m as a m e n d e d .
T h e n ew o r d in a n c e s ta te s s p e c ific a lly th a t th e re -e n a c tm e n t o f all the
o rig in a l o r d in a n ce s Is In te n d e d t o r e -g ra n t t o th e F o re st C ity R y . C o. all
o f th e rig h ts c o n fe rr e d b y th e m , a n d is n o t In te n d e d t o o p e r a te as a repeal
o f a n y o n e o r a n y p a r t t h e r e o f.
T h e o r d in a n c e , w h ic h is p u b lis h e d in full
as an a d v e r tis e m e n t In th e C le v e la n d p a p e rs , w as pa sse d b e ca u s e o f th e
d e c is io n o f J u d g e P h illip s In D e ce m b e r last In th e " p e r s o n a l In te re st” su it.
C o m p a re V . 8 3 , p. 1 4 6 9 .— V . 8 5 , p . 283.

Grand Trunk R ailw ay of Canada.— Dividends on Third
Preference Stock.— Referring to the press dispatches stating
that the directors last week on learning the estimated results
for the half-year ending June 30 last (which have not yet
been reported) decided to pass the dividend on the third
preference stock, the follow ing from the “ London E cono­
m ist" of Aug. 3 in regard to the policy of the com pany is
o f interest:
In view o f th e c h a ir m a n 's d e c la r a tio n a t th e last h a lf-y e a r ly m e e tin g
th a t u n til th e c o m p a n y Is In a p o s itio n t o p a y a d iv id e n d o n Its o r d in a r y
s t o c k th e d ir e cto r s d o n o t In ten d t o In stitu te th e p a y m e n t o f h a lf-y e a rly
d iv id e n d s on th e thl>d p r e fe re n ce s t o c k , sh areh olders c a n n o t lo o k fo r th e
d e c la r a tio n o f a n y d iv id e n d on th e th ird p re fe re n ce s t o c k iu n t ll ja ft e r th e




405

THE CHRONICLE.

A u g . 17 1 907.j

c lo s e o f th e c a le n d a r y e a r , b u t h a v in g re g a rd t o th e f a c t h a t th e n et
p r o fit fo r th e s ix m o n th s e n d in g Ju n e 30 1906 (as e s tim a te d b y th e " S t a t i s t ” )
w ere o n ly a b o u t £ 7 0 ,0 0 0 s h o r t o f th e a m o u n t r e q u ire d t o p a y th e fu ll
d iv id e n d o n th e th ird p r e fe re n ce s t o c k , it is n o t u n re a s o n a b le t o a ssu m e
t h a t th e fu ll d iv id e n d w ill be p a id o n th is s t o c k fo r th e c u r r e n t y e a r .— V . 84
p . 1049.

Two-Cent Passenger Fares.— The R ailw ay Commission of
Canada having ordered a 2-cent rate for third-class passen­
gers between Montreal and T oronto, an appeal has been
taken, so that the new schedule will not go into effect until
the appeal is decided b y the Supreme Court of Canada. If
the decision of that court is adverse, permission will be asked
to carry the case to the Judicial Committee of the Privy
Council in L on don.— V . 84, p. 996.
Great Northern R y .— Vice-President McGuigan Resigns.—
It was announced on Aug. 9 that First Vice-President E. H.
McGuigan had resigned as the result, it is understood, of
personal differences between him and James J. H ill.— Y . 84,
p. 996.
Kanawha & M ichigan R y .— Report.— The results for the
year ending June 30 were:
G ross
F is c a l Y e a r—
E a rn in g s,
$ 2 ,3 7 7 ,6 6 2
1 9 0 6 -0 7 _____
1 9 0 5 -0 6 ________________ 2 ,1 5 2 ,7 6 3
— V . 84, p . 1366.

N e t E a rn .
Other
F ix ed
B a la n ce ,
(over taxes) In co m e. C h arges.& c. S u rp lu s .
$ 5 1 5,69 5
$7,1 0 8
$25 5 ,7 2 7
$ 2 6 7 ,0 7 6
5 3 6 ,1 2 9
7,7 8 1
2 3 7 ,7 3 5
3 0 6 ,1 7 4

Kansas City Belt R y .— Purchase P rice.— See Kansas City
Terminal R y . below .— V. 78, p. 1446.
Kansas City Terminal R y .— Price for Belt R y.— The “ K an ­
sas City Star” of Aug. 9 said:
T h e p r ice th a t is t o b e p a id b y t h e K a n s a s C ity T e r m in a l R y . C o. f o r
th e p r o p e r t y o f th e K a n sa s C ity B e lt R R . w as b r o u g h t o u t in th e h e a r in g
b e fo r e th e S ta te R a ilr o a d C o m m is s io n th is m o r n in g .
" I t has b e e n a g r e e d ,
said C. C. R ip le y , A u d it o r o f th e c o m p a n y , “ t h a t th e B e lt L in e p r o p e r t y
is t o b e tak i n o v e r b y th e T e rm in a l C o m p a n y a t its c o s t p r ice t o th e o w n ers.
T h a t a m o u n ts t o $ 3 ,2 2 0 ,0 0 0 , as fo llo w s : B o n d s , $ 2 ,5 0 0 ,0 0 0 ; s t o c k , $ 5 5 0 ,000 ; su rplu s, $ 1 7 0 ,0 0 0 ; t o t a l, $ 3 ,2 2 0 ,0 0 0 .
C o m p a re V . 8 4 , p . 339 , 570 ;
V . 8 3 , p . 323 , 155.

K noxville (Tenn.) Railw ay & L ight Co.— Bonds Offered.—*
Further Data.— Isidore Newman & Son, New Orleans and
New Y ork , are offering $500,000 consolidated mortgage 5 %
gold bonds of $1,000 each (c* ), dated Sept. 1 1905 and due
Sept. 1 1945, bu t redeemable at 1073^ and interest on
Sept. 1 1910 or any interest day thereafter. A circular says,
in substance:
C a p ita liza tio n .
P re fe rre d s t o c k , 6 % c u m u la tiv e (re d e e m a b le a t 1 1 0 )_______________ $ 5 0 0 ,0 0 0
C o m m o n s to c k (a u th o riz e d issu e , $ 1 ,5 0 0 ,0 0 0 )_______________________ 1 ,4 9 1 ,9 0 0
C on solid a ted m o rtg a g e 5 % b o n d s (a u th o riz e d Issue, $ 3 ,0 0 0 ,0 0 0 ). .1 ,7 3 2 ,0 0 0 R e s e rv e d t o retire u n d e ry ltn g b o n d s (K n o x v ille T ra ctio n C o . ) - - 8 3 1 ,0 0 0
R e s e rv e d fo r b e tte r m e n ts , t o be issu ed o n b asis o f $ 1 ,0 0 0 in
b o n d s fo r $ 1 ,2 5 0 o f cash e x p e n d itu r e s __________,_______________ 4 3 7 ,0 0 0
E a rn in g s, E x p e n s e s , C h arges, etc.
Y e a r e n d i n g ------- S i x M o n th s ending J u n e 3 0 ------—
J u n e 30 ’ 0 7 .
1 90 7.
190 6.
In c r ea se .
%
G ross e a r n i n g s ____________ $55 9 ,6 8 9
$28 2 ,9 2 9
$22 8,58 1
$ 5 4 ,3 4 8
2 3 .8
O p e ra tin g e x p . a n d t a x e s . 2 98 ,360
154 ,523
142 ,725
11,7 9 8
8.3.
N e t e a r n in g s ____________ $26 1 ,3 2 9
In te re s t c h a r g e s .................... 1 19 ,034

$12 8 ,4 0 6
6 2 ,192

$ 8 5 ,8 5 6
4 9 ,1 2 6

$ 4 2 ,5 5 0
1 3 ,066

4 9 .5
26.6-

S u r p l u s ......................... .......$ 1 4 2,29 5
•Set a side fo r rese rv e a n d
d e p r e c i a t io n ____________
3 0 ,0 0 0

$ 6 6 ,2 1 4

$ 3 6 ,7 3 0

$ 2 9 ,4 8 4

8 0 .a

N e t s u r p lu s ........................... .$ 1 1 2 ,2 9 5

$51 ,2 1 4

15,0 0 0

1 5 ,0 0 0 *
$ 2 1 ,7 3 0

_______

_____

$ 2 9 ,4 8 4

1 3 5 .7

• D e d u ctio n f o reserve a n d d e p r e c ia tio n w a s n o t m a d e m o n t h ly in t h e
y e a r 1. 0 6 , b u t a single d e d u c t io n o f $ 3 0 ,0 0 0 w a s m a d e in D e c ., h a lf o f w hich;
is here c o n s id e r e d as a p p ly in g t o th e first h a lf o f th e y e a r 190 6.
T h e c o m p a n y has p a id re gu la r d iv id e n d s o f 6 % u p o n th e p re fe rr e d s t o c k
sin ce issu a n ce , an d is n o w p a y in g d iv id e n d s a t th e ra te o f 4 % p e r a n n u m
u p o n Its c o m m o n s to c k .
T h e c o m p a n y w as in c o rp o ra te d in 1905 u n d e r th e law s o f T en n essee*
h a v in g a c q u ir e d all th e stre e t ra ilw a y an d e le c t r ic lig h tin g p r o p e r tie s a n d
fra n ch is e s In th e c it y o f K n o x v ille .
A ll fra n c h is e s , b o t h fo r th e o p e r a t io n
o f th e s treet ra ilw a y s an d fo r e le ctr ic lig h t a n d p o w e r , are u n lim ite d In tim e *
e x c e p t th o s e c o v e r in g th e o p e r a t io n o f 1
m ile s o f stre e t ra ilw a y on tw o.
u n im p o r ta n t s tre e ts. T h e fra n ch ise s on th o s e stre e ts ru n t o N o v . 28 194 6.
T h e c o m p a n y m u s t p a y in t o th e s in k in g fu n d an a m o u n t e q u a l t o M o f 1 %
o f all b o n d s o u t s ta n d in g (In clu d in g th e K n o x v ille T r a c tio n C o . b o n d s)
a n n u a lly fo r five y e a r s , b e g in n in g S e p t. 1 1910, a n d an a m o u n t e q u a l t o
1 % a n n u a lly th e r e a fte r .
I f th e b o n d s c a n n o t b e p u r c h a s e d a t 107 )4 a n d
In te re st, t h e y m u s t be ca lle d b y lo t a t th a t p r ic e .
B o n d s in th e s in k in g
fu n d are t o be k e p t a liv e a n d th e in te re s t th e re o n c o lle c t e d a n d r e -in v e s te d .
T h e c o m p a n y o w n s a t p re se n t 39 m iles o f ra ilw a y tr a c k (in c lu d in g 7
m iles o f d o u b le t r a c k ) , all e ith e r n ew o r r e -c o n s t r u c t e d w ith in th e p a s t 2 )4
y e a rs w ith rails o f 70 lb s . p e r y a r d a n d o v e r .
T h e p r o p e r t y has w ith in t h a t
p e r io d been p u t in m o s t e x c e lle n t p h y s ic a l c o n d it io n b y th e r e -c o n s t r u c t io n
o f th e p o w e r -h o u se a n d th e a d d it io n o f n e w ca r b a r n s , n ew cars a n d th e
r e -c o n s tr u c tio n a n d e x te n sio n o f th e lin es o f ra ilw a y tr a c k s .
The com pany
n o w o w n s 35 o p e n a n d 36 c lo s e d ca rs an d 7 s e m i-c o n v e r tib le ca rs.
O ver
h a lf o f th e se are n e w .
T h e t o t a l e x p e n d itu r e on a c c o u n t o f c o n s t r u c tio n
d u r in g th e last th ree y e a rs has b e e n o v e r $ 1 ,3 0 0 ,0 0 0 .
T h e ra ilw a y lin es
e x t e n d t o t w o p a rk s on o p p o s it e sid e s o f th e c it y .
T h e c o m p a n y ow n s on e
o f th e s e , an d h a s-a lease on th e o th e r o n e r u n n in g as lo n g as th e p r o p e r t y
e x is ts as a p a r k .
T h e lig h tin g d e p a rtm e n t n o w has 2,6 7 8 co n s u m e rs , an d
t h a t b ra n ch o f th e business Is r a p id ly g r o w in g , h a v in g In creased o v e r 30 %
d u r in g th e first h a lf o f 1907 o v e r th e c o r r e s p o n d in g p e r io d o f 190 6.
The
c o m p a n y a lso has a c o n t r a c t w ith th e c it y fo r th e e n tire street lig h tin g .
T h e o w n e rsh ip o f th e p r o p e r t y Is n o w v e s te d in th e A m e rica n C ities
R a ilw a y & L ig h t C o ., w h i-h o w n s all o f its c o m m o n s t o c k , an d all b u t 44
shares o f th e p re fe rre d s t o c k .
T h ese b o n d s th u s h a v e b e h in d th em th e
e n tire $ 1 7 ,6 6 7 ,3 4 2 c a p ita l s t o c k ($ 1 0 ,7 6 1 ,1 6 5 c o m m o n an d $ 6 ,9 0 6 ,1 7 7
p re fe rre d ) o f th e A m e r ic a n C ities R a ilw a y & L ig h t C o . (co m p a re V . 8 4 ,
p . 1 1 7 9 ).— V . 85, p . 345.

Louisville & Nashville R R .— Injunction.— Judge Jones in
the Federal Court on Thursday issued an injunction restrain­
ing the State of Alabam a from enforcing the com m odity
and 2 i^-cent passenger rate laws pending decision as to their
validity b y the United States courts. There has been great
excitem ent in the State for some time past because of the
conflicting decisions on these questions of the Federal and
State courts, the latter holding the laws to be valid. The
litigation heretofore has been against the Southern R y .,
which has agreed, in order to maintain public order, to place
the new rates into effect on Sept. 1, pending decision of the
courts. Compare editorial, V. 85, p. 252, and remarks in
“ Financial Situation” last week, page 308.— V. 85, p. 346.
Northern Pacific R y .— Hill Interest.— While it is possible
that the Hill interest in the property is somewhat less in pro­
portion than form erly, no credence is given to the story that

406

THE CHRONICLE.

was printed this week of a large reduction. The “ Wall Street
Journal” on A u g. 13 quoted a banker “ in a position to be
well inform ed on this su bject” as follows:
M r. H ill a n d his a s s o cia te s still c o n t in u e t o b e th e d o m in a n t p a r t y in
N o rth e r n P a c ific , a lth o u g h th e ir s to c k h o ld in g s are r e la tiv e ly sm aller th a n
t h e y w ere p r e v io u s t o th e n e w 8 9 3 ,0 0 0 ,0 0 0 s t o c k issu e.
I u n d e rs ta n d th a t
t h e y d id n o t e x e r c is e t o t h e fu ll e x te n t t h e p riv ile g e t h e y h a d fo r s u b s crib in g
t o th e n e w sh a res, a n d an a c tu a l m a jo r it y o f th e c o m p a n y ’s s to c k is in th e
h a n d s o f th e p u b lic , o r , o n e m ig h t s a y , in th e o p e n m a r k e t.
T h e ir h o ld in g s ,
h o w e v e r , are still s u ffic ie n tly la rge t o firm ly e n tr e n c h th e H ill-M o rga n
p a r t y in th e m a n a g e m e n t o f th e p r o p e r t y .— V . 8 4 , p . 868 .

Public Service Corporation of New Jersey.— Merger of
Subsidiaries.— The stockholders of the North Jersey Street
R y ., Jersey City H oboken & Paterson R y . and United Street
R ailw ay of Central New Jersey will vote on Aug. 20 on rati­
fyin g an agreement of consolidation of these companies,
dated July 30, under the name of the Public Service Railway
C o., with $38,000,000 authorized stock, in $100 shares.
The stocks of the companies nam ed, m ost of which is owned
b y the Public Service Corporation, is to be exchanged for
stock of the new com pany on the follow ing basis:
Stock. Old C o ’ s
N a m e o f Old C o m p a n y—
•
(A m o u n t)
N o rth J ersey S treet R y ________ $ i5 ,0 0 0 ,0 0 0
J e r s e y C ity H o b o k e n & P a te rs o n 2 0 ,0 0 0 ,0 0 0
U n ite d S t. R y - o f C en tral N . J . .
4 ,0 0 0 ,0 0 0

R eceive
N ew S tock.
100%
100%
75%

$ 3 9 ,0 0 0 ,0 0 0

N ew Stock
Issu able.
$ 1 5 ,0 0 0 ,0 0 0
2 0 ,0 0 0 ,0 0 0
3 ,0 0 0 ,0 0 0
$ 3 8 ,0 0 0 ,0 0 0

— V . 85, p . 285 , 100.

Public Service R y .— New Company— Consolidation.— See
Public Service Corporation of New Jersey above.
St. Louis R ock y Mountain & Pacific Com pany.— Coke
Ovens.— This com pany, which operates in New Mexico and
owns all the capital stock of the St. Louis R ock y Mountain
& Pacific Railway C o., has com pleted 210 additional coke
ovens, of which 40 have been put in service, and additions
are being made at the rate of five per day. B y Oct. 1 the
com pany will have nearly 400 ovens burning.
Earnings.— For fiscal years ended June 30 1907 and 1906:
1907.
G ross e a r n in g s _________________________________________ $ 1 ,0 5 3 ,0 5 6
O p e r a tin g e x p en s es a n d t a x e s ________________________
746 ,691
N et in c o m e fro m o p e r a t io n a n d o t h e r s o u r c e s ____

$30 6 ,3 6 5

1906.
$ 7 0 1,62 6
528 ,628
$17 2 ,9 9 8

The railway began operation early in Decem ber 1906.
Its earnings from that date are included in those of the
St. Louis R o ck y Mountain & Pacific Com pany for 1907.
The com bined net earnings of the two properties for the 7
m onths ending June 30 1907 were a little more than $245,000.
— V . 84, p. 1053.
Southern R y .— Litigation.— See Louisville & Nashville R R .
a b ov e.— V. 84, p. 1553.
Southern Pacific C o.— New Stock Listed.— The New Y ork
Stock Exchange has listed $355612,800 of the $36,000,000
new preferred stock offered to shareholders of record June 15
at par (V. 84, p. 1114, 1183), m aking the total am ount of
said stock listed $75,182,500, and authorized the listing
prior to Jan. 1 1908 of the remaining $387,200 when issued
and paid for in full, making the total am ount listed and
authorized to be listed $75,569,700.
The balance sheet of May 31 1907 shows an item of “ loans
and bills payable, $32,700,000” ; and under heading “ deferred
assets,” on the other side of the account, items which contrast
with those of June 30 1906 (V. 83, p. 1538) as follows:
“ D efe r re d A s s e ts ” —
M a y 31 ’ 0 7 .
A d v a n c e s fo r c o n s t r ’n an d a c q u is ’n o f n ew l i n e s . . $ 3 0 ,1 3 2 ,7 9 2
A d v a n c e s fo r e le ctr ic l i n e s __________________________
6 ,3 4 7 ,9 4 9
R e a l e sta te an d o th e r p r o p e r t y ____________________ 1 4 ,1 3 2 ,6 8 6
R o llin g s t o c k _________________________________ ______ 1 6 ,4 7 0 ,0 5 9
S te a m s h ip s a n d o th e r flo a tin g e q u ip m e n t ________
7 ,4 3 1 ,0 7 0
W o o d -p r e s e r v in g p la n t _____________________________
181,533
I n d iv id u a ls a n d c o m p a n ie s ________________________
3 ,2 4 3 ,6 3 4

J u n e 30 ’06.
$ 1 4 ,0 9 7 ,2 1 4
5 ,0 9 4 ,6 8 9
1 1 ,5 1 0 ,7 5 3
1 1 ,1 5 9 ,8 2 9
5 ,5 4 8 ,4 4 5
164 ,669
679 ,585

T o t a l . . . __________________________________________$ 7 7 ,9 3 9 ,7 2 3
— V . 85 p . 285 , 222 .

$ 4 8 ,2 5 5 ,1 8 4

T oledo Canada Southern & D etroit R y .— Guaranty.— The
first mortgage bonds dated Jan. 2 1906, authorized issue
$4,500,000, are endorsed with the follow ing guaranty:
F o r m o f G uaranty.
T h e M ich ig a n C en tral R a ilr o a d C o ., fo r a n d in c o n s id e ra tio n o f th e sum
o f on e d o lla r t o it in h a n d p a id b y th e h o ld e r h e re o f, a n d fo r o th e r g o o d
a n d v a lu a b le co n s id e ra tio n s , d o th h e re b y co v e n a n t a n d agree w ith th e
h o ld e r o f th is b o n d fo r th e tim e b e in g th a t T h e T o le d o C a n a d a S ou th ern &
D e tr o it R a ilw a y C o. sh all a n d w ill p a y th e p rin cip a l o f th is b o n d a n d th e
In terest th e re o n as a n d w h en th e sam e shall re s p e c tiv e ly b e c o m e d u e a n d
p a y a b le ; a n d th a t in case o f d e fa u lt in p a y m e n t o f su ch p r in cip a l o r Interest
b y T h e T o le d o C a n a d a .Southern & D e tro it R a ilw a y C o ., T h e M ich iga n
C en tra l R a ilr o a d C o. w ill m a k e su ch p a y m e n t.
In w itn ess w h e r e o f, th e
sa id T h e M ich ig a n C en tral R a ilr o a d C o. has cau sed th is g u a ra n ty to be
s u b s c r ib e d in its co r p o r a te n a m e b y its P re sid e n t a n d its co r p o r a te seal t o
b e h e re to a ffix e d , a tte ste d b y its S e cre ta ry , th is se co n d d a y o f J a n u a ry 1906.
S ig n e d , T h e M ich igan C en tral R a ilr o a d C o ., b y P re s id e n t: a tte s te d b y
S e c r e ta r y .— V . 82, p . 930 .

Toledo Peoria & W estern R y .— Report.— The results for
the year ending June 30 were:
Y ea r—
190 6-0 7
190 5-0 6
— V . 83, p . 819.

G ross.
$ 1 ,2 9 7 ,9 6 0
1 ,2 9 3 ,3 9 4

N et.
$28 7,80 1
2 5 3 ,9 6 0

In t. & T a xes.
$28 7,49 1
2 7 5 ,6 0 2

B a la n ce.
sur.
$310
d e f. 21,642

Union Pacific R R .— Order to Show Cause.— See Chicago
& Alton R R . ab ove.— V. 85, p. 161, 154, 100.
W est Chicago Street R R .— Opposition.— See Chicago Rail­
ways above.— V. 83, p. 349.
W innipeg Electric R .— New Stock— Payment of 33 1-3%
from Surplus.— The bo rd of directors on July 20 1907
resolved that the capital stock should be increased by the
issue of 15,000 shares of $100 each, in all $1,500,000, making
the total capital stock $6 ,000,000, such new shares to be
offered for subscription at par b y shareholders o f record
Aug. 31 1907 on or before Sept. 15, one share of said new
stock for each three shares of stock held b y them respec­
tively. Subscriptions are payable as follows: 10% on sub­




[V o l .

lxxxv

.

scription and 10% on the 15th day of O ct., N ov. and Dec.
1907 and of Jan. and Feb. 1908 and 6 .66% on 15th day
of March 1908, “ and the balance to be paid b y the crediting,
after said last cash paym ent, on said 15,000 new shares,
pro rata, of $500,000 to be transferred from the amount
standing to the credit of profit and loss accou n t.”
A n y sh a reh old er has th e rig h t o f p re -p a y m e n t in fu ll a t a n y tim e o f th e
a m o u n t p a y a b le in cash in r e sp e ct o f his sh ares, p r o v id e d he p a y s In terest
a t th e ra te o f 5 % p e r a n n u m o n th e a m o u n t o f his s u b s c r ip tio n fro m th e
e n d o f th e p re v io u s q u a rte r t o d a te o f p a y m e n t, a n d th e h old er o f su ch
shares so p re p a id t o be e n title d t o a n y d iv id e n d t o b e d e cla re d fo r th e
q u a rte r in w h ich su ch p a y m e n t is m a d e .— V . 8 5 , p . 2 2 3 .

W isconsin Central
R y .— Extensions— Earnings,
An official is quoted as follows:

& c.—

T h e L a d y s m ith e x te n sio n w ill b e o p e n e d in to S u p erior b y D e c. 1 an d in to
D u lu th a y e a r la te r. T h e L a d y s m ith -O w e n s e c tio n , O w en b e in g o n th e
m a in lin e , w as o p e n e d a y e a r a g o .
T h e 135 m iles c o m p ris in g th e en tire
e x te n s io n c o s t $ 3 0 ,0 0 0 a m ile , a n d th e D u lu th term in a ls w ill c o s t $ 6 0 0 ,0 0 0 .
W e w ill tu n n el u n d er fo u r b lo c k s in D u lu th , fro m T w e lfth t o E ig h th S tre e t,
an d th e d e p o t w ill b e at F ifth and S u p erior streets, a b lo c k fro m th e S p a u l­
d in g h o te l.
W e w ill b e w ell o ff in term in al fa cilities. T h e lin e w ill b e th e
s h ort line fro m b o t h M ilw a u k ee a n d C h ica g o t o S u p erior an d D u lu th .
It
o p e n s a rich te rrito ry th a t w ill g iv e us a d iversified tr a ffic .
T h at part o f
th e ro a d u n d er w a y , 90 o d d m iles. Is b e in g b a lla sted th ro u g h o u t.
The
e x te n s io n is b u ilt o n a p erm a n en t basis a t th e b eg in n in g ; cu lv e rts a n d all
s tru ctu res are p u t in as s o lid ly as p o ssib le .
O u r J u ly g ross ea rn in gs sh ow ed m ore th a n $ 2 0 0 ,0 0 0 increase o v e r a y e a r
ago.
A m o n th ’ s n et ea rn in gs tell little , b u t th e ra n g e o f cu rren t n et e a rn ­
ings Is u n s a tis fa cto ry .
U p to J u ly o u r t r a ffic w as lim ite d o n ly b y e q u ip ­
m e n t. S in ce th e n all ro a d s h a v e sh ow n a fa llin g o ff. O urs is n o t o u t o f p r o ­
p o r tio n , n o r d o I th in k it is m ore th a n season al.
H ow ever, w e ca n n ot
e x p e c t to k eep u p w ith re ce n t gross retu rn s fo re v e r.
A s to . h o w w e shall get
a lo n g w ith 2 -ce n t fa res, a 1 0 % in crea se in tr a in m e n ’ s w a g e s, an d all th a t
th e an sw er is th a t so lo n g as business is a t h ig h -w a te r m a rk w e ca n sta n d
th e h igh er co sts and re strictiv e leg isla tion , th o u g h w e ca n ju s t b a re ly sta n d
lt.
T h e tro u b le is th a t e v e r y th in g is n o w k e y e d u p t o th e b asis o f a c lim a x
o f p r o s p e r ity .
W h e n th e recession co m e s som e ra ilro a d s w ill b e b a d ly h u rt.
O u r a d v ice s o n th e cro p s are a b o u t all w e c o u ld w ish .

There is no particular connection between W isconsin Cen­
tral and the Chicago Cincinnati
Louisville beyond the
com m on ownership and the dual presidency of Mr. B radford.
— V. 84, p. 1429.
IN D U S T R IA L ' GAS AN D MISCELLANEOUS.
Allis-Chalmers Co.— Official Denial of Rumor.— Chairman
Edward I). Adams yesterday gave the following statement
to the “ New Y ork Evening Sun” :
“ No director of the com pany or other officer has consulted
with counsel concerning the question of a receiver, nor do we
know of any one, friendly or averse to the com pany, who has
taken or contem plated such an action.
“ The quick net assets of the com pany in the form of ac­
counts receivable from perfectly solvent corporations exceed
b y three times the current liabilities, but when the banks set
down or restrict loans to companies in a proper position to
ask them , there is bound to be some delay in making pay­
ments. For example, the city of New Y ork owes us a large
amount o f money and, although we have offered to take
bonds at par, we have yet received no paym ent.
“ The story about a receiver is a fabrication that is de­
cidedly libelous, and we should be very glad to know who
originated it .’ .V. 83, n. 1472.
American Pulp Paper
Lum ber Co., B oston .— Status.—
This com pany was incorporated in Maine in 1905 with
$1,000,000 authorized capital stock, of which $500,000 is
cumulative preferred, to build a pulp and paper plant at
North Anson, Me. This plant, including a three-story mill
500 ft. long and 30 ft. wide, is expected to be in operation
the latter part of 1907. An issue of first mortgage 20-year
5 % bonds amounting to $500,000 was authorized, principal
due Sept. 1 1925; interest payable March and September at
International Trust C o., trustee, Boston. The com pany
owns water power at North Anson and an extensive acreage
of tim ber land on the Kennebec River. E. L. Savage, North
Anson, Me., is President and Burton M. Lovell, Boston,
Treasurer.
Touching the proceedings brought against the com pany
on July 25 b y Bernard W . D oyle of Leominster, based on a
disputed note for $5,500, dated Sept. 24 1906, Treasurer
Burton M. Lovell writes:
T h is Is a d is p u te d cla im , a n d th e p a rties h a v e n e v e r su ed th e c o m p a n y o r
a tte m p te d to co lle c t a n y th in g th ro u g h th e c o u r ts .
W e d o n o t th in k th e y
h a ve a case a n d are n o t in a n y w a y w orried a b o u t it. T h e c o m p a n y has
n o t co m m itte d a n y a c t o f b a n k r u p tc y , an d w e th in k th e case w ill be d is ­
m issed . T h e Interest c o u p o n s o f th e c o m p a n y h a ve been p aid w h en d u e.
T h e p r o p o s itio n is con sid e re d b y e x p e r ts t o be all rig h t an d w e p r o p o se
t o ca rry it th r o u g h .
T h e c o m p a n y ow es v e ry little a t th e p resen t tim e a n d
has d o n e th e m o s t o f Its busin ess on a strictly cash basis. T h e w o rk o f
c o n s tr u c tio n is g o in g o n u n in te r r u p te d ly a t th e p ie s e n t tim e .

Am erican Telephone & Telegraph Co.— Holdings of Mackay
Companies.— See that com pany below .— V. 85, p. 348, 286.
Atlanta (Ga.) Steel H oop Co.— New Officers.— David
W oodw ard, President of the W oodw ard Lumber C o., has
been elected President in place of C. E. Currier, resigned.
George Connors, Secretary and Treasurer, has also tendered
his resignation.— V. 83, p. 1172.
A ttleboro (M ass.) Steam & Electric C o.— New Stock.— The
Massachusetts Gas & Electric Light Commission recently
authorized the issue of $75,000 additional capital stock at
par, $100 per share, to provide for additions to plant since
March 1 1907. On June 30 1906 the capital stock was $46,400 and notes payable $13,000; no bonds.
Balaklala Consolidated Copper Co.— Control— Bonds.— See
Balaklala Copper Co. under “ Annual R eports” .
Brazoria Irrigation C o.— Receiver's Sale.— Receiver Marion
Douglas, Galveston, T e x ., announces that he will sell on
O ct. 1 1907, at R ichm ond, Fort Bend County, T ex ., the
assets of the com pany, “ comprising rice irrigation plant,

THE CHRONICLE.

A u g . 17 1907.J

houses, & c., and 17,500 acres rice and farming lands, crossed
b y four railroads, and within short distance o f Houston and
Galveston, T e x .” — V . 76, p. 333.
Buffalo & Susquehanna Iron Co.— Earnings.— For the fiscal
year ending April 30 1907 the net earnings were $719,244;
interest charges, $216,670; surplus, $502,574.
For the first tw o months of the present fiscal year the
com pany earned a surplus of $137,633, or on a basis of over
$825,000 per annum.
Ore Supply.— The com pany, which recently added to its
holdings in the Iron River district of Michigan through the
purchase of the Hiawatha mine leasehold and adjoining
property, has, as the result of explorations carried on for
some tim e, discovered a large deposit o f excellent foundry
or basic ore, w hich will furnish its plant all the ore needed of
that variety. The com pany now has extensive iron mines
in the Mesabi Range of Minnesota and in the Iron River and
Iron Mountain districts of Michigan.— V. 85, p. 224.
California Gas & Electric Corporation.— New Stock— New
Bond Issue Proposed.— The shareholders of this subsidiary
o f the Pacific Gas & Electric Co. (V. 85, p. 226, 163; V . 82,
p. 164; V. 81, p. 844, 1016) will meet in O ctober n ext to
authorize an increase in the authorized capital stock from
$15,000,000 to $30,000,000, preparatory to the making of
a new bond issue to provide for refunding and extensions.
President John Britton is quoted as saying:
T h e v a lu e o f th e p r o p e r tie s h e ld b y th e c o m p a n y Is a b o u t $ 5 5 ,0 0 0 ,0 0 0 *
o n w h ic h th e s to c k ca p ita liz a tio n has b e e n c o m p a r a t iv e ly s m a ll—-o n ly $15,"
0 0 0 ,0 0 0 .
T h e d ir e cto r s h a v e d e c id e d t o in crea se th is b y an a d d itio n a l
$ 2 0 ,0 0 0 ,0 0 0 t o c o m p ly w ith th e law r e la tiv e t o th e n e ce ssa ry p r o p o r t io n
b e tw e e n c a p ita l s t o c k a n d b o n d s issu ed. W e w ill th e n b e ab le t o sell new
b o n d s an d m ak e on e issue ta k e care o f th e In d e b te d n e ss an d im p ro v e m e n ts
n e e d e d b y th e s u b sid ia ry c o m p a n ie s .
T h e b o n d e d d e b ts o f th e se c o n c e r n s
w ill be refu n d e d b y m ean s o f th e s in g le -b la n k e t issu e, w h ic h w ill b e a m o r e
s a t isfa c t o r y p la n o f fin a n c e .— V . 81, p . 1174.

Cincinnati Gas & Electric C o.— Guaranty to be Endorsed on
Stock Certificates on Presentation.— The lease of the com any’s property to the Union Gas & Electric C o., dated
ept. 1 1906, provides:
• A r tic le 2 .— T h e lessee agrees t o e x e c u te afe-u aranty In th e f o llo w in g fo r m
t o b e p r in t e d , lith o g r a p h e d o r e n g r a v e d u p o n th e ce r tific a te s o f s t o c k o f
t h e o w n e r , as t h e y m a y be p re se n te d fo r t h e p u rp o s e fro m tim e t o t im e .
Q u a r te rly d iv id e n d s p a y a b le o n th e first d a y s o f J a n u a r y , A p r il, J u ly
a n d O c t o b e r , b e g in n in g O c t . 1 1906 a n d e n d in g O c t . 1 2 00 5, u p o n th e p a r
v a lu e o f a ll o u t s ta n d in g s t o c k o f th e C in cin n a ti G as & E le c t r ic C o ., are
g u a r a n te e d in a c c o r d a n c e w ith th e te rm s o f a c e r ta in lease b e tw e e n th e
C in c in n a ti G as & E le c t r ic C o . an d th e u n d e rs ig n e d , d a te d S e p t. 1 190 6,
a n d are p a y a b le ,fr e e o f ta x e s o r ch a rg e s o f e v e r y k in d .
S a id d iv id e n d s
shaTl b e a t th e fo llo w in g ra te s: b e g in n in g O c t . 1 1906 a n d e n d in g O c t . 1 1908,
W t, % ea c h ; b e g in n in g J a n . 1 1909 an d e n d in g O c t . 1 191 0, 1 3 - 1 6 % e a c h ;
a n d b eg in n in g J a n . 1 1911 a n d e n d in g O c t . 1 2 00 5, I X % e a c h .
(S ig n e d ,
“ T h e U n ion G as & E le c t r ic C o ., b y __________; T re a s u re r.” )

The rental is payable in quarterly installments on the 10th
o f Sept., D ec., March and June, and the guaranteed divi­
dends are payable therefrom on the 1st of O ct., Jan., April
and July. Compare V. 83, p. 1231, 892.
Consolidated Gas Co. of New Y ork .— Notes Sold.— The
com pany has sold to N. W .’ Harris & Co. $5,000,000 of 12
m onths 6% notes, dated Aug. 10, which have been prac­
tically all resold to investors at 99. The proceeds are to be
used to com plete the first unit of the gas plant at Astoria
and for additional equipm ent for the electrical department
o f the business and other corporate purposes.
The notes are secured b y deposit of $6,250,000 New Y ork
Edison Co. stock, practically all o f the outstanding $45,051,000 of which is owned b y the Consolidated Com pany.
— V . 85, p. 286, 43.
• ■ .
Elberon W ater & Light Co. of Deal, N. J .— See New Jer
gey Consolidated W ater & Light Co. below .— V. 83, p. 40.
Federal Mining & Smelting C o.— Extra Dividend Reduced•
— The directors have declared the regular quarterly dividend
° f 1M % on the preferred stock and the usual quarterly divi­
dend of 114% and an extra dividend of 1
on the com m on
stock, all payable Sept. 16 to holders of record Aug. 26.
The previous extra dividend on the com m on stock, paid on
June 15 last, was 3 ^ % . Dividend record on com m on stock:
-------------- 1906

—

--------- 1907---------

407

Plants— Bonds— Control of Grand Rapids Edison C o.— VicePresident W . A . Foote in March last, in a letter addressed
to the Chairman of the Ordinance Committee o f the Grand
Rapids Common Council, said:
W h e n ou r c o m p a n y h a d th e co n s tr u c tio n o f its first p o w e r p la n t w e ll
u n d e r w a y , in 190 5, it d is c o v e re d th a t th e c it y h a d been g ra n te d a n e w
ch a rte r w h ich c o n ta in e d p r o v is io n s fo r g ra n tin g o f fra n ch ises o u t o f h a r ­
m o n y w ith th e n ecessities o f p o w e r-tra n sm issio n c o m p a n ie s a n d s u b je c t
t o w h ic h w e co u ld n o t fin a n ce ou r c o n s tr u c tio n ; so w e d e c id e d t o a w a it
resu lts. U p t o th a t tim e ou r c o m p a n y o w n e d , clea r fro m in te rfe r e n c e ,
o n ly p a rt o f th e p o w e r o f th e M u sk eg on R iv e r , b u t so o n a fte r w as a b le t o
clea r up th e title t o th e re m a in in g fio w a g e , a n d in so d o in g In cid e n ta lly
se cu re d an in terest in th e G ra n d R a p id s E d iso n C o.
W e th e n d e c id e d t o
secu re fu rth e r In terests in th e E d iso n C o ., a n d h a v e r e c e n tly a c c o m p lis h e d
th is, so th a t a t th e p resen t tim e w e are la rg e ly in co n tr o l.
W e h a v e c o m p le te d a 6 ,0 0 0 h o rse -p o w e r p la n t, w h ic h is in o p e r a tio n , a n d
h a v e u n d e r c o n s tr u c tio n a s e co n d d e v e lo p m e n t o f 16,0 0 0 h . p ., t o b e c o m ­
p le te d a b o u t M ay 1. T h e p o w e r o f th e first p la n t has been d is p o s e d o f a n d
a co n s id e ra b le p a rt o f th e s e co n d p la n t sh ou ld be a llo te d t o G ra n d R a p id s .
T o d is trib u te th is p o w e r In th is c it y w ill req u ire a large e x p e n d itu r e fo r n ew
circu its .
S u ch circu its ca n be c o n s tr u c te d u n d er fra n ch ises o w n e d b y th e
E d iso n C o m p a n y , u sin g E d iso n sh o rt-tim e b o n d s t o raise th e m o n e y . A
m ore fa v o r a b le p la n w o u ld be t o fin a n ce su ch c o n s tr u c tio n b y sale o f o u r
ow n 2 5 -y e a r b o n d s.
I f G ra n d R a p id s so d esires, w e w ill n e g o tia te fo r a n e w fra n ch ise t o ta k e
th e p la ce o f th e fra n ch ise n o w o w n e d b y th e E d iso n C o m p a n y , a n d b rin g in g
all th e p resen t lig h t and p o w e r b u sin ess o f th e c it y s u b je c t t o its p r o v is io n s .
W e h a v e a t lea st 5 0 ,0 0 0 h o rse -p o w e r th a t ca n b e tr a n s m itte d t o G ra n d
R a p id s . C om p a re V . 82, p . 1043; V . 83, p . 97 2 , 117 3.

Griffin W heel Co., Chicago.— Status of Car-Wheel Enter­
prise.— Post & Flagg of New York recently offered for sale
a block of this com pany’s 6 % cumulative preferred stock,
subject to call at 125. There is also outstanding $7,000,000
com m on stock upon which dividends of about 10% per
annum have been paid; par of shares, $ 100; no bonds.
T h e en terp rise w as s ta rte d in D e tr o it in 1875 b y T h o m a s F . G riffin , w h o
d ie d a t C h ica go o n F e b . 11 1907.
T h e first p la n t h a d a c a p a c it y o f 18
w h eels a d a y .
T h e G riffin p la n ts in B o s to n , D e tr o it , C h ica g o; S t. P a u l,
K a n sa s C ity , D e n v e r a n d T a co m a n o w h a v e a c a p a c it y o f a b o u t 6 ,0 0 0
w h eels a d a y .
M r. G riffin ’s so n , T . A . G riffin , is n o w P re sid e n t.
P la n s w ere filed in M arch last fo r a $ 3 5 0,00 0 a d d itio n t o th e c o m p a n y ’ s
p la n t a t P u llm a n , 111., a n d It is said th a t w h e n all th e a d d itio n s are c o m ­
p le te d th e y w ill in clu d e several b la st fu rn a ce s, m a ch in e sh o p s, & c ., a n d
w ill h a v e c o s t a b o u t $ 1 ,0 0 0 ,0 0 0 .— V . 8 1 , p . 268 .

Hackensack (N. J .) W ater Co.— Bonds Listed.— The New
Y ork Stock Exchange has listed the $1,850,000 first mortgage
4 % bonds, dated July 1 1902, which have been issued from
■ time to time since Oct. 1 1906 for additional property, in­
cluding over 94 miles of mains and pipes, a storage reservoir
at Hillsdale, a filtration plant at New Milford, a new pumping
station at New Durham, &c. The com pany now has u p ­
wards of 374 miles of mains and pipes.
Common stock is $2,625,000; preferred, $375,000. D ivi­
dend rate, 6 % per annum .— V. 84, p. 1117.
Idaho Sugar Co.— Consolidation.— See Utah-Idaho| Sugar
Co. below.
Independent Telephone Securities C o.— Plan.— See United
States Independent Telephone Co. below .— V. 84, p. 274.
Independent Telephone Co. of Syracuse, N. Y .— See
United States Independent Telephone Co. below .— V . 81,
p. 511.
International Mercantile Marine Co.— Extension of Voting
Trust.— The holders of a m ajority of the voting trust cer­
tificates, com m on and preferred, having agreed to the fiveyear extension proposed b y circular of June last, further
assents are requested, as stated in an advertisement on an­
other page of this issue. Compare V . 84, p. 1370.
Inter-Ocean Steamship Co.— Bonds Offered.— The Detroit
Trust Co. o f D etroit, the mortgage trustee, some time since
received subscriptions at par and interest for $130,000 first
mortgage 5 % gold bonds of this com pany, to be form ed b y
C. W . Elphicke and associates, Chicago, 111. A circular said:
T h e b o n d s w ill b e s e cu re d b y a first m o rtg a g e o n a steel stea m sh ip n o w
b u ild in g at th e G rea t L a k es E n g in e e rin g W o r k s , D e tr o it.
A p p r o x im a t e
d im e n sio n s: L e n g th , 440 fe e t; b e a m , 52 fe e t; d e p th , 28 fe e t; c a p a c it y ,
7 ,5 0 0 ton s (e stim a te d ); c o s t o f v essel, $ 2 7 5 ,0 0 0 .
B o n d Issue, $ 1 3 0 ,0 0 0 ,
d a te d A p ril 1 1907. P a y a b le in te n in sta llm e n ts o f $ 1 3 ,0 0 0 ea ch on J a n . 1
fro m 1908 t o 1 91 7, b o th In clu siv e .
In te re st p a y a b le J a n . 1 a n d J u ly 1 at
o ffic e o f tru ste e .
C om p a re V . 8 3 , p . 627.

K eystone Telephone Com pany of Philadelphia.— Earnings
of Combined Properties.— For years ending June 30:

P crC en t—
1904 1905
M ch . Ju n e S e p t. D e c . M ch . J u n e S e p t.
R e g u l a r ......................... 4 }^
6
1H
l}4
m
1 y2 l t f
1M
E x t r a -------------------------0
4 ( lq u .) 2M
Zy2 2 X
3\i
3 tf
3 M -\ ]4
— V . 8 4 , p . 1309.

1 9 0 6 -0 7 .
G ross e a rn in g s___ _______________________________________ $99 5 ,7 5 2
O p e r a tin g e x p e n s e s , m a in te n a n ce a n d t a x e s _________ 518 ,6 9 1

1 9 0 5 -0 6 ,
$ 8 2 0 ,8 4 2
4 5 3 ,9 2 6

General Asphalt Co.— Fine Imposed on Subsidiary.— A
press dispatch dated Aug. 12 says that the Civil Court of
First Instance at Caracas has im posed a fine of $5,000,000
on the New York < Bermudez Asphalt Co. to be paid to the
fe
Venezuelan Government to represent the cost o f putting
down the Matos revolution which the com pany’s officials
were accused of assisting. The dispatch says “ a large addi­
tional sum for moral and material damages is to be assessed
later.” An appeal, it is expected, will be taken to the Su­
perior Court of Venezuela. Compare V . 81, p. 616; V. 80,
p. 2223, 1178.
Grand Rapids (M ich.) Edison Co.— Control.— See Grand
Rapids-Muskegon Power Co. below .— V. 85, p. 43.
Grand-Rapids-M uskegon Pow er Co.— Franchise in Grand
Rapids.— The “ Grand Rapids Post” of Aug. 7 contains in
full the ordinance approved b y the Common Council on
July 29 granting this com pany a. 20-year franchise, on con­
dition that the com pany and its subsidiary, the Grand Rapids
Edison Co. (V. 80, p. 1114; V. 84, p. 999; V. 85, p. 431),
shall put into effect on Oct. 1 the following maximum rates:

N et e a rn in g s a v a ila b le fo r I n te re st, e x te n s io n s , b e t t e r ­
m e n ts a n d ren ew al reserve f u n d ____________________ $47 7,06 1
— V . 84, p . 1251.

$ 3 6 6 ,9 1 6

E le c tr ic ity fo r lig h t, 8 ce n ts p e r k .w . h o u r (co n tr a s tin g , It is s ta te d , w ith
12 ce n ts h e re to fo re ch a rg e d b y th e G ra n d R a p id s h d is o n C o .); 25 h o rse ­
p o w e r , 3 cen ts p er h .p . h o u r; 25 t o 75 h orse p o w e r , 2 ce n ts p er h .p . h o u r;
fro m 75 t o 150 h orse p o w e r , 1 % ce n ts p e r h .p . h ou r; m ore th a n 150 h o r s e ­
p o w e r , 1 M ce n ts p e r h .p . h o u r.
!
M in im u m lig h tin g c h a rg e 50 ce n ts a m o n th
a n d fo r p o w e r $1.




M ackay Com panies.— Interest in American Telephone &
Telegraph Co.— The “ Boston News Bureau” of July 30 said:
W e u n d e rs ta n d th a t th e M a c k a y C o m p a n ie s a v a ile d its e lf o f a d e c lin e in
A m e r ic a n T eleph on evsh ares w h ich fo llo w e d th e a n n o u n c e m e n t o f th e re ce n t
issu e o f s t o c k in th e e a rly p a r t o f J u n e t o av e ra g e up its A m e rica n T e le p h o n e
h o ld in g s b y a c q u ir in g se ve ra l s u b s ta n tia l n e w b lo c k s f s t o c k u n til a t t h
p r e s e n t tim e th e M a ck a y C o m p a n ie s is th e o w n e r o f n e a r ly 9 0 ,0 0 0 shar
A m e r ic a n T e le p h o n e C o . s t o c k , o f w h ic 1 b e tw e e n 1 1 ,000 an d 1 2 ,000 w ere
!
a c q u ir e d b y rig h t o f s u b s c r ip tio n t o th e Ju n e issue o f $ 2 2 ,0 0 0 ,0 0 0 .
The
c o s t o f th e s t o c k se cu re d b y th e 1906 p u rch a se s a v e ra g e d clo se t o $130 p e r
sh are.
W ith th e b lo c k w h ic h w as a c q u ir e d b y s u b s c r ip tio n a t p a r a n d
th r o u g h s u ch p u rch a se s as h a v e sin ce been m a d e , th e a v e ra g e p r ice o f th e
T e le p h o n e h o ld in g s m u st h a v e be e n r e d u ce d c o n s id e r a b ly .
T h e p resen t
c a p ita l s t o c k o f th e T e le p h o n e C o ., in c lu d in g th e new s t o c k , is $ 1 5 3 ,4 7 6 ,6 0 0 ,
o f w h ic h th e M a c k a y C o m p a n ie s h o ld , s a y , $ 9 ,0 0 0 ,0 0 0 .— V . 84, p . 870 .

M exican Car & Foundry C o.— Receivership.— This com ­
pany was last June placed in receivers’ hands because of
failure to pay $35,000 due to the United States Banking Co.
— V. 81, p. 1614.
(The) M exican Light & Pow er Co., L td .— Circular Regard­
ing Proposed Issue of $2,400,000 7 % Cumulative Preferred
Stock.— President George A . D rum m ond, in a circular dated
Montreal, July 23, says:
Y o u r c o m p a n y on Ju n e 30 h ad o u t s t a n d in g lia b ilitie s a m o u n tin a p ­
p r o x im a t e ly t o $ 2 ,0 0 0 ,0 0 0 , g o l d , on a c c o u n t o f cu rre n t lo a n s an d o v e r d r a fts
in c u r re d in p a r t on a c c o u n t o f th e se c o n d In sta lla tio n , m e n tio n e d b e lo w ,
w h ic h It Is d e sira b le t o liq u id a te a t an e a rly d a t e .
Y o u r d ir e cto r s h a v e also

THE CHRONICLE.

408

d e c id e d th a t it Is In th e b e st in te re sts o f y o u r c o m p a n y t o p u rch a se th e c o n ­
t r o l o f th e R o b e r t E le c t r ic C o .. w h ic h is its o n ly e x is tin g c o m p e t it o r in th e
F e d e ra l D is tr ic t o f M e x ico .
F o r th ese p u rp o s e s y o u r d ir e cto r s desire t o
o b t a in a u th o r ity t o issue p r e fe re n ce s t o c k o f th e c o m p a n y , o f th e n o m in a l
v a lu e o f $ 2 ,4 0 0 ,0 0 0 , g o ld , c a r r y in g a fix e d c u m u la tiv e p re fe re n tia l d iv id e n d
o f 7 % per a n n u m .
T h e c h ie f o ffic ia ls o f th e c o m p a n y , r e sid e n t I n M e x ic o , are n o w in a p o s i­
t io n t o e s tim a te a p p r o x im a t e ly th e a n n u a l in c o m e w h ich w ill be a v a ila b le
fro m th e first In s ta lla tio n , a lth o u g h , o w in g t o th e d iffic u lt ie s w h ich m a n y
c o n s u m e r s e n c o u n te r in o b t a in in g p r o m p t d e liv e rie s o f e le ctr ic a l m a ch in e ry
fr o m th e m a k e rs, se v e ra l m o n th s o r e v e n a y e a r m a y ela p se b e fo r e these
e stim a te s are fu lly re a lize d .
E stim a ted A n n u a l E a rn in g s fro m F ir s t In sta lla tio n .
G ross e a r n in g s _______ g o ld $ 3 ,2 1 2 ,0 0 0 B o n d in te r e s t______________ $ 9 0 0,00 0
1 8 0 ,00U
O p e r a tin g e x p e n s e s _______
880 ,000 S in k in g f u n d s _____________
P re fe re n ce s to c k d iv id e n d s
168 ,000
N e t e a r n in g s ____________ $ 2 ,3 3 2 ,0 0 0
E s tim a te d su rp lu s a v a ila b le fo r c o m m o n s t o c k d iv id e n d ---------$1 ,0 8 4 ,0 0 0
In v ie w o f th e a b o v e e s tim a te s , y o u r d ir e c t o r s are o f o p in io n th a t t h e y
w ill be ju s tifie d In r e c o m m e n d in g th e p a y m e n t in q u a rte r ly in sta llm e n ts o f a
d iv id e n d o f 4 % p e r a n n u m o n th e o r d in a r y shares fo r th e y e a r 1908, t o
e ffe c t w h ich it Is th e in te n tio n t o ask th e sh a re h o ld e rs a t th e n e x t a n n u al
m e e tin g t o s a n c tio n an a m e n d m e n t t o th e p re se n t b y -la w , w h ic h lim its th e
c o m p a n y t o sem i-a n n u a l d iv id e n d s d e cla re d in F e b ru a r y a n d A u g u s t.
Y o u r d ir e cto r s , In v ie w o f th e in cre a s in g d e m a n d fo r p o w e r , a u th o r iz e d
a ll th e p re lim in a r y w o rk in c o n n e c t io n w ith th e s e co n d in s ta lla tio n .
T h is
p r e lim in a r y w o rk , t o g e th e r w ith p a rt o f th e p e rm a n e n t c o n s t r u c tio n , has
b e e n c o m p le t e d a n d th e e x p a n se t h e r e o f has been m e t o u t o f th e b a n k a d ­
v a n c e s referred t o In th e first p a ra g ra p h o f th is cir c u la r .
T h e in s ta lla tio n
o f th e first u n it o f th e s e c o n d in s ta lla tio n , w ith a c a p a c it y o f 10,000 h o r s e ­
p o w e r , w ill c o s t a p p r o x im a t e ly $ 1 ,5 0 0 ,0 0 0 , g o ld , a n d y ie ld an a d d itio n a l
re v e n u e o f a b o u t $40 , g o ld , p e r h o rs e -p o w e r,| w ith o u t m a te r ia lly In creasin g
th e p resen t o p e r a tin g e x p e n se s.
In th e m e a n tim e th e in s ta lla tio n o f th e first u n it o n ly Is re q u ir e d ; b u t
a d d it io n a l u n its, o f 10,000 h .p . e a c h , m a y be in sta lle d as n e ce s s a ry , u p t o
a t o t a l o f 6 0 ,0 0 0 h . p ., a t a c o s t o f a b o u t $ 5 0 0 ,0 0 0 , g o ld , p e r u n it.

The rights of the preference shares are stated in the pro­
posed amendment to the by-laws in part as below:
T h e said shares sh all be called “ c u m u la tiv e p re fe re n ce s h a re s ,” n o m in a l
v a lu e $100 e a c h .
T h e said shares shall c a rry a fix e d c u m u la tiv e p r e fe re n ­
tia l d iv id e n d , p a y a b le o u t o f th e p ro fits o f th e c o m p a n y a v a ila b le fo r d iv i­
d e n d s , a t th e rate o f 7 % p e r a n n u m o n th e ca p ita l fo r th e tim e b e in g p aid
u p th e r e o n r e s p e c t iv e ly .
T h e said sh ares shall ran k in p r io r it y t o all
o r d in a r y shares in th e c a p ita l s to c k o f th e c o m p a n y , b u t shall n o t c o n fe r
a n y fu r th e r rig h t t o p a r ticip a te in p ro fits o r assets.
T h e c o m p a n y shall be
a t lib e r t y , fro m tim e t o tim e , t o cre a te an d issu e fu r th e r " c u m u la tiv e
p r e fe re n ce s h a re s ,” r a n k in g in all re s p e cts pari passu w ith th e said 24.0 0 0
p r e fe re n ce sh ares, b u t so th a t th e a g g re g a te a m o u n t In n o m in a l v a lu e o f all
" c u m u la t iv e p refere n ce shares” a fo re s a id , fo r th e tim e b e in g issu ed. In­
c lu d in g said 24.0 0 0 sh ares, shall n o t e x c e e d th e n o m in a l va lu e o f $ 6 ,0 0 0 ,0 0 0 .
In th e e v e n t o f th e c o m p a n y b e in g w o u n d u p , th e surplus assets th e r e o f
sh all b e a p p lie d In th e first p la c e In r e p a y in g th e h o ld e rs o f th e said “ c u m u ­
la t iv e p r eferen ce s h a re s,” an d o f a n y o th e r shares e n title d t o ran k pari passu
w ith t h e m , th e fu ll a m o u n t p a id u p th e r e o n , an d a n y arrears o f d iv id e n d s
u p t o th e co m m e n ce m e n t o f th e w in d in g u p , w h e th e r d e cla re d or n o t .
T h e h o ld e r o f a n y o f th e said “ c u m u la tiv e p r e fe re n ce sh ares” m a y , b y n o tice
in w ritin g le ft , to g e th e r w ith th e c e r tific a te fo r th e shares th e re in referred
t o , at th e c o m p a n y ’ s o ffic e in M o n tre a l, C a n a d a , o r a t su ch o th e r o ffic e s
as th e d ir e cto r s m a y d e s ig n a te , n o t la te r th a n J a n . 1 1913. o r such la te r
d a t e as th e d ir e cto r s m a y ag re e , e le ct t o c o n v e r t th e “ c u m u la tiv e p re fe re n ce
sh ares” sp ecified in su ch n o t ic e in t o o r d in a r y shares, w h e re u p o n such shares
shall b e c o m e o r d in a r y shares, a n d shall rank In all re s p e cts pari passu w ith
th e o th e r o r d in a r y sh ares.— V . 8 5 , p . 349 .

Milliken Brothers, Incorporated, New Y ork .— Pennsyl­
vania Contract Transferred.— The contract to supply structural
material to be used in the erection of the Pennsylvania ter­
minals in this city has been transferred to the Carnegie Co.
The contract, it is said, originally called for about 20,000
tons, to which about 6,000 to 7,000 tons have just been
added.— V. 85, p. 163.
National Enameling & Stamping Co.— Report.— For year
ending June 30:
F isca l
G ross
Y ear.
pro fits.
1 9 0 6 -0 7 ___________ $ 2 ,4 6 4 ,2 1 4
1 9 0 5 -0 6 ___________ 1 ,5 7 6 ,3 9 6
— V . 8 3 , p . 1415.

N et
D iv . on
p ro fits.
1st M .b d s.
$ 1 ,7 0 3 ,4 0 0
$64 ,583
8 7 0 ,9 7 3
_______

7 % on
p r e f. stk.
$59 8,26 2
598 ,262

B a la n ce,
su rplu s.
$ 1 ,0 4 0 ,5 5 5
272,711

National Packing Co.— Acquisition.— The com pany, it is
reported, has acquired the holdings of Henry Gebhardt,
President of the Colorado Packing & Provision C o., consti­
tuting 40% of the stock, and now owns the entire issue.—
V . 79, p. 2460.
National W ater Supply Co., H am pton, & c., V a .— Bonds
Offered.— This com pany’s “ first mortgage 5 % gold bon ds,”
due 1932, have recently been offered for sale, a circular saying:
T o t a l a u th o r iz e d issue 5 1 ,0 0 0 ,0 0 0 . se cu re d b y first m o rtg a g e o n all th e
p r o p e r t y o f th e c o m p a n y nt>w o w n e d o r h e re a fte r a c q u ir e d .
P resent
issu e $ 5 5 0 ,0 0 0 .
B a lan ce reserved fo r p rop ost d e x te n s io n t o th e c it y o f
N e w p o r t N ew s an d fo r g en eral p u rp o se s o f th e c o m p a n y as p r o v id e d b y th e
term s o f th e m o r tg a g e .
C o u p o n b o n d s o f $500 an d $1,000 ( c * ) . In te re st
p a y a b le F e b . 1 an d A u g . 1 in N ew Y o r k an d P h ila d e lp h ia .
K n ic k e r b o c k e r
T r u s t C o ., N e w Y o r k , tru ste e . T h e se b o n d s are n o t r e d e e m a b le b e fo re
m a t u r it y .
T h e N a tio n a l W a te r S u p p ly C o ., in c o r p o r a te d u n d e r th e law s o f V ir ­
g in ia . has a c q u ir e d o w n e rsh ip In fe e sim p le t o th e lan d s a n d w a te r rig hts
o n B ig B eth el S tre a m , th e o n ly w a te rsh e d a v a ila b le In th e P e n in su la fo r
s u p p ly in g th e d is tric t w ith an a b u n d a n t s u p p ly o f p u re s o ft w a te r, a m p le
fo r all d o m e s t ic an d fire p r o t e c tio n p u rp o s e s .
T h e c o m p a n y has also aceiulred b y lease th e d is trib u tin g sy s te m o f th e P en in su la P u re W a te r C o.
(c o m p a r e V . 8 3 , p . 44 1 , 6 2 8 ), w h ich c o m p a n y e n jo y s p e r p e tu a l fra n ch ise s,
g r a n te d p r io r t o th e n ew C o n s titu tio n o f th e S ta te b y th e to w n s o f H a m p to n ,
P h o e b u s an d b y th e a u th o r itie s o f E liz a b e th C ity C o u n ty (w h ich Inclu des
th e U n ite d S ta tes G o v e rn m e n t re se rv a tio n s c o v e r in g O ld P o in t C o m fo r t,
F ortress M on roe N a tio n a l S o ld ie r s ’ H o m e an d H a m p to n In d u s tria l S c h o o l.)
N o fu r th e r p e r p e tu a l fra n ch ises ca n n o w be g ra n te d sin ce th e r e c e n t a d o p tio n
o f th e n ew C o n s titu tio n ..
E stim a ted R even u e.— 5 85 ,000 gallon s p e r d a y , o r 2 1 3 ,0 0 0 ,0 0 0 g allon s per
a n n u m , at 30 cen ts p e r 1 ,0 0 0 , $6 3 ,9 0 0 ; o p e r a tin g ch a rg e s , s a y , $10 ,0 0 0 ;
n et ea rn in g s, $ 5 3 ,9 0 0 ; in terest on $ 5 5 0,00 0 b o n d s , $ 2 7 ,5 0 0 ; surplus e a rn ­
in g s, $ 2 6 ,4 0 0 .
A d d it io n a l re v e n u e w ill fo llo w fro m s u p p ly in g n a v a l an d
o t h e r vessels In H a m p to n R o a d s .— P r e s ., J . H . A n d e r s o n .

The bonds of the underlying Peninsular Pure W ater Sup­
ply Co. (authorized issue $300,000. See V. 83, p. 441)
we are inform ed, are still outstanding, but bonds of the Na
tional W ater Supply Co. have been set aside to retire them
at or before m aturity.
National W ire Corporation, New Haven, Conn.— An order
was entered on Aug. 14 in the Superior Court at New Haven
authorizing Receivers H . Stuart Hotchkiss and Frederick
B. Farnsworth, receivers, to turn over the assets of the
corporation to the trustees appointed b y the bankruptcy
court.
T h e r e c e iv e r s ’ final a c c o u n t sh ow s r e ce ip ts fro m th e c o m m e n ce m e n t o f
th e rec e iv e r sh ip last D e ce m b e r t o J u ly 31 a m o u n tin g t o $ 4 5 1,16 9 84,
d isb u rse m e n ts o f $ 2 5 9,68 9 85 an d a b a la n ce o f $ 1 9 1,47 9 99.
T h e assets
a re g iv e n as $ 4 ,2 1 9 ,6 8 7 36, o f w h ich $ 1 ,1 6 7 ,5 2 5 48 is in a c tu a l p r o p e r ty
a n d th e re m a in d e r In ch o s e s in a c tio n an d g o o d w ill.
A d isch a rg e w ill be
g r a n te d n e x t m o n t h .— V . 8 5 , p . 43.




[V o l .

lxxxv

.

Newburgh (N. Y .) Light, Heat & Pow er Co.— New Securi­
ties— Further Facts.— Referring to the recent application for
authority to issue $250,000 8 % cumulative preferred stock,
making the total stock $750,000, of which $500,000 is com ­
mon (par, $ 100) we have the following:
T h e c o m p a n y w as In c o r p o r a te d In 1900 In N ew Y o r k a n d In 1901 m a d e
a c o n s o lid a te d m o r tg a g e t o th e N o rth A m e rica n T ru st C o ., N ew Y o r k , as
t ru ste e , t o secure an Issue o f $75 0 ,0 0 0 5 % g o ld b o n d s , due 1931 b u t s u b je c t
t o call a fte r te n yea rs a t 105; d e n o m in a tio n $1,0 0 0 an d $500; Interest p a y ­
ab le M ay 1 a n d N o v . 1 a t o ffic e o f tru ste e .
O f th e to t a l a m o u n t a u th o riz e d
$42 0,00 0 Is o u ts ta n d in g an d $13 0,00 0 Is re served t o ta k e u p a like a m o u n t
o f 6 % b o n d s o f th e C o n s o lid a te d E le c tr ic L ig h t H e a t & P o w er C o. T h e
n e w preferred s to c k Is t o be offered t o th e sh areh olders a t p a r .
S u b s cr ip ­
tio n s t o be p a y a b le 4 0 % A u g . 1; 4 0 % N o v . 1 an d 3 0 % F e b . 1 1907. T h e
c o m m o n s to c k in 1904 an d 1905 r e c e iv e d 3 % y e a rly a n d sin ce 1905 4 %
y e a r ly .
W . R . B e a l is P re sid e n t a n d T . R . Beal Is S e cre ta ry a n d T reasu rer
T h e c o m p a n y states th a t sin ce 1901 it has e x p e n d e d $30 0 ,0 0 0 In im p r o v e ­
m e n ts t o its gas an d e le ctr ic s y s te m s, w h ich e x p e n s e has been th u s fo r
m e t b y th e s to c k h o ld e r s .
T h e co n te m p la te d e x te n sio n s o f b o t h th e gas
a n d e le ctric sy stem s are e s tim a te d t o c o s t $ 2 1 4 ,0 0 0 , o f w h ich $ 1 5 0,00 0 w ill
b e e x p e n d e d In a d d itio n s t o th e e le ctric s ta tio n .
In a d d itio n It Is p r o p o s e d
t o disch arge a flo a tin g In d ebted n ess o f $8 2 ,0 0 0 . T h ere w as n o o p p o s itio n
a n d th e case w as c lo s e d .— V . 85, p . 43.

New Jersey Consolidated W ater & Light Co., Deal, N. J.
— Receiver.— Vice-Chancellor Howell on Aug. 13 appointed
Samuel J. Ludlow Jr. of Montclair, President of the Second
National Bank of Jersey C ity ,a n d Edward S. Hill of Boston,
receivers, on application of Attorney-General R obert H. Mc­
Carter, representing John Shepard of Boston, owner of
$130,000 receivers’ certificates of the old Elberon W ater &
Light Co. (V. 83, p. 40).
T h e p la n t o f th e E lb e r o n C o m p a n y w as so ld o n A p ril 13 last b y F ia n k
P . M c D e r m o tt, as sp e cia l m aster, t o M r. L u d lo w , a c t in g fo r a re o r g a n iza ­
tio n c o m m it t e e , fo r $ 4 0 ,0 0 0 , s u b je c t t o th e re c e iv e r s ’ c e r tific a te s, th e N ew
Je rse y C o n s o lid a te d C o . b e in g o rg a n iz e d t o t a k e o v e r th e p r o p e r t y .
The
cla im o n th e r e c e iv e r s ’ c e rtifica te s a m o u n te d o n J u ly 25 t o $ 1 3 6 ,3 7 8 .
A
m o r tg a g e has b e e n a u th o r iz e d t o th e C o lu m b ia T ru s t C o ., as tr u s te e , t o
secu re an issue o f $ 3 0 0 ,0 0 0 b o n d s . T h e flo a tin g d e b t , it is s t a t e d , is a b o u t
$ 3 0 ,0 0 0 an d th e p la n t Is b a r e ly e a rn in g o p e r a tin g e x p e n s e s .

New Y ork Independent Telephone Co.— Status Under
Plan.— See United States Independent Telephone Co. below.
— V. 81, p. 1104, 1178.
New Y ork Independent Telephone C o.— See United States
Independent Telephone Co. below .— V. 81, p. 1178.
Omaha Electric L ight & Pow er Co.— Earnings.— For year
ending April 30 1907: Gross receipts, $587,842; operating
expenses and taxes, $355,358; net earnings, $232,484; bond
interest for period, $99,000; surplus, $133,484.
There are $1,980,000 first mortgage 5s dated July 1 1903
outstanding; total issue lim ited to $3,000,000. (Compare
V. 81, p. 215.) The H. P. W right Investm ent C o., K an­
sas City, M o., says:
T h e o p e r a tin g e x p e n s e as g iv e n a b o v e is u n u su a lly la rg e , as th e c o m p a n y
a r b itra rily ch a rg e s $40 ,0 0 0 p e r an n u m a gain st d e p r e c ia tio n , an d this
ch a rg e Is c a rrie d d ir e c t ly In th e Item o f “ o p e r a tin g e x p e n se s an d t a x e s .”
T h e a b o v e gross e arn in gs s h o w an in crea se o f m o re th a n 30 % o v e r th e c o r ­
re s p o n d in g t w e lv e m o n th s p r e c e d in g .
T h e c o m p a n y has been p a y in g
d iv id e n d s o f 5 % p e r an n u m o n Its p re fe rre d shares sin ce A u g u st 1 9 0 3 .—
V . 8 3 , p . 1102.

Pacific Gas & Electric Co. of San Francisco.— New Stock
and Bonds for Subsidiary Corporations.— See California Gas
& Electric Corporation ab ove.— V. 85, p. 226, 163.
Peck, Stow & W ilcox Co.— Increased Extra Dividend.
— Besides the regular quarterly dividend of 2 % % , payable
Aug. 1, an extra dividend of 6 % has been declared payable
Aug. 15, contrasting with an extra dividend of 5 % paid a
year ago. Compare V. 83, p. 216.
Peninsular Pure W ater Co., H am pton, V a .— Lease.— See
National W ater Supply Co. above and compare V. 83, p.
441, 628.
Pittsburgh Lead & Zinc Co.— Additional Stock Listed.—
The Pittsburgh Stock Exchange has listed an additional
115,019 shares (par $1), making the total am ount listed
$720,000. Authorized stock, $ 1,000,000.
Pope M anufacturing Co., H artford, Conn.— Receivership.
— On a bill o f com plaint filed on behalf of The MacManusK elly Co. of Toledo, Ohio, a creditor to the extent of $4,436,
praying for the appointm ent of receivers, Albert L. Pope
of H artford, Conn., Vice-President of the com pany, and
Egbert J. Tam blyn were on W ednesday appointed receivers
of the com pany b y the Chancery Court of New Jersey.
Ancillary bills were filed in New Y ork , Connecticut, Mary­
land, Massachusetts, Ohio, Indiana and Illinois, and Albert
L. Pope has been appointed sole receiver in each of these
States.
The embarrassment of the com pany is attributed to the
closeness of the m oney market, which reduced its capacity
to borrow from $1,900,000 to $1,100,000, and to the 6-months
strike at the Toledo plant that ended not long ago, after
having caused the cancellation of orders for some 200 highpriced autom obiles, owing to failure to deliver them in time.
The bill of com plaint states the assets and liabilities as o f
June 29 1907 as follows:
A s s e ts
B ook V a lu e.
P o p e M a n u fa ctu rin g C o _ . * $ 7 ,7 2 4 ,2 1 7
P o p e M o to r Car C o .(o w n 'd ) 3 ,4 8 1 ,3 5 4

--------------------L ia b ilities-----------------N otes.
Other.
Total.
$ 1 ,0 0 8 ,5 4 2
$45 1,31 2
$ 1 ,4 5 9 ,8 5 4
287 ,3 1 2
225 ,6 6 0
5 1 2 ,9 7 2

T o t a l ...................................-$ 1 0 ,2 0 5 ,5 7 1
$ 1 ,2 9 5 ,8 5 4
$ 6 7 6,97 2
$ 1 ,9 7 2 ,8 2 6
. N o te .— P o p e M fg . C o. ow n s th e en tire $ 1 ,0 0 0 ,0 0 0 s to c k o f th e P o p e M o to r
Car C o ., w h ich Is v a lu e d a t $73 1 ,3 3 1 .
♦Plants at H a r tfo r d , C o n n ., H a g e rsto w n , M d ., an d W e stfie ld , M a ss..
$ 2 ,1 7 0 ,7 2 5 ; fa cto rie s a t T h om p so n v llle, C o n n ., S y ra cu se , N . Y . , and C h i­
c a g o , 111., w h ich are n o t o p e ra te d b u t leased t o th ird p a rties, $ 5 1 4 ,2 8 8 ;
m a teria ls an d su p p lies a t c o s t . $ 1 ,7 2 5 ,8 0 0 ; a cco u n ts r e c e iv a b le , $ 1 ,2 0 4 ,2 8 6 ;
n o te s r e c e iv a b le , $ 2 2 ,1 4 0 ; cash o n h a n d an d In b a n k , $ 3 2 ,8 9 0 ; $ 1 ,0 0 0 ,0 0 0
p a r v a lu e P o p e M o to r C a r C o. (In co rp o ra te d In N ew Jersey) s to c k , $73 1 ,331; $ 1 0 ,0 0 0 p a r v a lu e F ed era l M a n u fa ctu rin g C o. (o f N ew J ersey) s to c k ,
$59 5 ,9 6 9 ; $ 3 0 0,00 0 C o lu m b ia Steel C o. (In co rp o ra te d In C o n n e c tic u t)
s to c k , $ 3 0 0 ,0 0 0 ; $50 ,000 P o p e M fg . C o. (In co rp o ra te d In C a liforn ia ) s to c k
$ 1 1 2 ,7 7 4 ; $14 6 ,5 0 0 A m e rica n W o o d R u n C o . (In co rp o ra te d In W e s t V lr

A u g . 17 1907.]

THE CHRONICLE.

gin la) s t o c k , $73 ,2 5 0 ; m is c e lla n e o u s , $ 6 ,0 0 3 ; d e fe r re d in s ta llm e n t t o b e c o m e
d u e fro m R u b b e r G o o d s M fg . C o ., $ 2 3 4 ,7 6 1 . T o t a l, $ 7 ,7 2 4 ,2 1 7 .
S ee a ls o
b a la n c e sh eet o n a p r e c e d in g p a g e .

Colonel Pope states that the ’ quick assets are “ several
million dollars more than the liabilities,” and that the opera­
tion of the plants will go on w ithout interruption. The
petition further says in substance:
T h e c o r p o r a t io n Is u n a b le t o m e e t its c u r r e n t o b lig a tio n s w h ic h h a v e
a lr e a d y m a tu r e d a n d w h ic h w ill m a tu re In th e n e a r fu tu r e ; a n d in v ie w o f
p resen t fin a n cial c o n d it io n s it w ill b e Im p o ssib le fo r t h e c o m p a n y in th e
n ea r fu tu r e t o raise, b y lo a n s o r o th e rw is e , s u ffic ie n t fu n d s t o e n a b le it t o
p r o s e c u te its bu sin ess w ith s a fe ty t o th e p u b lic o r a d v a n ta g e t o its s t o c k ­
h old ers . T h e n a tu re o f th e business o f th e c o m p a n y is su ch t h a t d u r in g
th e s u c c e e d in g m o n th s o f th e y e a r 1907, a n d J a n u a r y , F e b ru a ry a n d M arch
1 9 0 8 ,large su m s o f m o n e y m u st be e x p e n d e d In th e m a n u fa c tu r e o f its
p r o d u c t , fo r w h ic h n o su b s ta n tia l re tu rn w ill be r e c e iv t d u n til a b o u t
A p ril 1908; b u t , o w in g t o th e in a b ility t o o b ta in th e n e ce ssa ry fu n d s , it Is
I m p r a c tic a b le fo r th e c o m p a n y t o c o m p le t e th e m a n u fa c tu r e o f its p r o d u c t
a n d t o m a k e th e c o n t r a c t s o f sale th e r e fo r n e ce ssa ry t o m a in ta in said b u si­
ness w ith p r o fit .

Compare balance sheet on a preceding page of this issue.
— V. 83, p. 1595.
Randolph-M acon Coal Oo.— Sale Sept. 14.— The com ­
pany’s properties are advertised to be sold under foreclosure
o f the mortgage dated March 25 1895, Central Trust C o.,
trustee, on the premises at Mine No. 2 in town of Huntsville,
Randolph County, M o., on Sept. 14. The decrees of sale
were rendered recently b y the United States Circuit Court
for the Northern Division of the Eastern District of Missouri
and the United States Circuit Court for the Central Division
of the Western District of Missouri. Upset price, $100,000.
— V. 84, p. 1555.
Rochester (N. Y .) Telephone C o.— See United States
Independent Telephone Co. below .— V. 83, p. 276.
Sloss-Sheffield Steel & Iron Co.— Earnings.— The results
for the three months ending July 31 1907 are given below.
This is not the regular quarterly period, which ends Aug. 31,
com parison being therefore made with such period in former
years.

409

T e le p h o n e S e cu ritie s C o . a n d s u b je c t t o its m o r tg a g e , a n d a ls o b y a d d i ­
tio n a l s e cu ritie s, co n s istin g o f th e p r o m is s o r y n o te s o f th e S tr o m b e r g C arlson T e le p h o n e M a n u fa c tu r in g C o . a n d th e b o n d s o f t h e R o c h e s t e r ,
S y ra cu se an d U tic a te le p h o n e c o m p a n ie s , t o be p u rch a se d w ith th e p r o c e e d s
o f th e b o n d s o f th e n e w c o r p o r a tio n t o be issu ed Im m e d ia te ly , as h e r e in a b o v e
p r o v id e d .
T h e n e w b o n d s w ill be c o n v e r t ib le , a t th e o p t io n o f th e h o ld e r s , in t o
s t o c k , on an e v e n e x c h a n g e .
T h e b o n d h o ld e rs w ill h a v e th e rig h t t o e le c t
a m a jo r it y o f th e b o a r d o f d ir e cto r s fo r s o m e p e r io d o f tim e t o b e h e r e a fte r
fix e d u p o n .
T h e m o r tg a g e w ill p e r m it th e c o r p o r a t io n t o re tire t h e b o n d s
a t a p r ice s lig h tly a b o v e th e ir p a r v a lu e .
T h e s t o c k o f th e N e w Y o r k I n d e p e n d e n t T e le p h o n e C o . h eld b y th e U n ite d
S ta te s I n d e p e n d e n t T e le p h o n e C o . a n d th e s to c k s a n d b o n d s o f n u m e r o u s
sm a ll c o m p a n ie s h eld b y th e In d e p e n d e n t T e le p h o n e S e cu rities C o . w ill
n o t b e p la c e d u n d e r th e n e w m o r tg a g e b u t w ill be so ld as s o o n as sales ca n
b e a d v a n ta g e o u s ly m a d e .
E a ch b o n d h o ld e r w h o desires t o p a r t ic ip a t e in th is p la n m u s t s u b sc r ib e
fo r b o n d s o f th e n e w c o r p o r a t io n t o th e a m o u n t o f 20 % o f his p resen t b o n d
h o ld in g s .
E a ch b o n d h o ld e r o f th e U n ite d S ta te s I n d e p e n d e n t T e le p h o n e
C o. w ill, u p o n p a y in g in th e a m o u n t so s u b s c r ib e d , be e n title d t o r e c e iv e
b o n d s o f th e n e w c o r p o r a t io n t o th e a m o u n t su b scrib e d fo r b y h im , a n d
s t o c k o f th e n e w c o r p o r a t io n o f th e p a r v a lu e o f 40 % o f his p r e s e n t b o n d
h o ld in g s .
E a ch b o n d h o ld e r o f th e I n d e p e n d e n t T e le p h o n e S ecu rities C o .
w ill, u p o n p a y in g th e a m o u n t s u b s c r ib e d fo r b y h im , be e n title d t o r e c e iv e
b o n d s o f th e n e w c o r p o r a t io n o f th e p a r v a lu e o f 45 % o f his p resen t b o n d
h o ld in g s , a n d s t o c k o f th e n e w c o r p o r a t io n o f th e p a r v a lu e o f 4 0 % o f his
presen t b o n d h o ld in g s .
T h e c o n s e n ts are n o t t o b e c o m e b in d in g u n less
sig n e d b y 90 % o f th e b o n d h o ld e rs o f th e U n ite d S ta te s a n d S ecu rities c o m ­
p a n ies.

Letter to Bondholders.— The reorganization com m ittee,
which consists of W alter B. D uffy, H arold P. Brewster and
Daniel B. M urphy, jn a circular dated Aug. 5, says in sub­
stance:

T h e a c c o m p a n y in g p la n w as p re p a re d b y th e a d v is o r y c o m m it t e e o f t h e
U n ite d S tates I n d e p e n d e n t T e le p h o n e C o. an d has b e e n a p p ro v e d b y th e
“ c o m m itte e o f t w e n ty -fiv e ” o f th e b o n d h o ld e rs o f th e sam e c o m p a n y .
T h e gross a m o u n ts o f o u ts ta n d in g b o n d s are; U n ite d S tates I n d e p e n d e n t
T e le p h o n e C o ., $ 1 3 ,4 0 7 ,0 0 0 (co m p a re V . 81, p . 1191; 1798, 1 8 5 5 ); I n d e ­
p e n d e n t T e le p h o n e S ecu rities C o . (e x c lu d in g th o s e p le d g e d fo r lo a n s ),
$1 ,0 3 5 ,0 0 0 (see V . 80, p . 1 7 3 3 ).
T h e p re se n t d iffic u lt y is la r g e ly d u e t o
o v e r ca p ita liz a tio n .
T h e c o m b in e d s to c k an d b o n d issue o f th e U n ite d
S ta te s I n d e p e n d e n t T e le p h o n e C o . n o w o u ts ta n d in g is a b o u t $ 2 8 ,5 0 0 ,0 0 0 ,
w h ich is larg e ly in e x ce ss o f th e a ctu a l p re se n t v a lu e o f its ta n g ib le p r o p e r ­
tie s .
T h e o v e r -c a p ita liz a tio n arose in g reat p a r t fro m th e v a lu a tio n g iv e n
t o th e fra n ch ise o f th e N e w Y o r k I n d e p e n d e n t T e le p h o n e C o .; th ere m a y
w ell b e a v e r y large p r o s p e c t iv e v a lu e in th a t fra n ch ise , b u t w e are n o w d e a l­
in g w ith a c tu a l p resen t v a lu e s.
I t is d e e m e d b e s t n o t t o p la c e th e s t o c k o f
th e N e w Y o r k In d e p e n d e n t T e le p h o n e C o . u n d e r th e n ew m o r tg a g e fo r th e
p re s e n t, b e ca u se o f th e u n c e r ta in ty o f th e fu tu re o f th a t c o m p a n y .
(C o m ­
p are V . 8 1 , p . 1 10 4, an d U . S. I n d e p e n d e n t T e le p h o n e C o. in V . 81,
N et fo r
—
D iv id en d s A c c r u e d .-------B a la n ce
p . 149 7.)
T h e c o m b in e d s to c k and b o n d issue o f th e I n d e p e n d e n t T e le ­
R flPcriod C overed.
D iv id en d s. P referred .
C om m on .
S u rp lu s
p h o n e Secu rities C o . is a b o u t $ 1 ,5 0 0 ,0 0 0 , w h ic h is la r g e ly in e x cess o f th e
3 m os. e n d . J u ly 3 1 ’ 0 7 ..$ 4 2 9 ,8 9 5
$1 1 4 ,0 0 0
(1
% ) $ 1 2 5 ,0 0 0
$1 9 0 ,8 9 5
p re se n t v a lu e o f Its ta n g ib le assets.
3 m o s . e n d . A u g . 3 1 ’ 0 6 . . 251 ,3 4 2
114 ,000
(1 } i % ) 125 ,000
12,342
T h e se c u r ity fo r th e $ 3 ,2 5 0 ,0 0 0 n e w b o n d s c o n sists o f n e a r ly all o f th e
3 m o s . e n d . A u g . 31 ’ 0 5 . . 3 3 1 ,4 2 3
1 14 ,000
(1 J£ % )
9 3 ,7 5 0
123 ,673
shares o f th e c a p ita l s to c k o f th e S tro m b e rg -C a rlso n T e le p h o n e M a n u fa c ­
3 m o s . e n d . A u g . 3 1 ’ 0 4 . . 1 5 4 ,8 1 5
1 14 ,000
_____ ______ _____
4 0 ,8 1 5
tu rin g C o . (V . 81, p . 1191; V . 78, p . 2015) and th e R o c h e s t e r T e le p h o n e C o .
— V . 84, p . 1433.
(V . 80, p . 2 22 4, 2402; V . 78, p . 7 7 1 ), n o w held b y th e U n ite d S ta tes I n d e ­
Spring River Pow er Co., Joplin, M o.— Earnings.— For p e n d e n t T e le p h o n e C o. (co m p a re V . 83, p . 2 7 7 ), b y a c o n tr o llin g in terest in
th e s to c k o f th e U tic a H o m e T e le p h o n e C o . (V . 84, p . 1556) and th e I n d e ­
year ending April 30 1907 (April 1907 earnings estim ated):
p e n d e n t T e le p h o n e C o. o f S yra cu se (V . 81, p . 5 1 1 ), b y $ 1 0 0,00 0 f ir s t m o r t .
G ross r e c e ip t s -----------------------$ 1 2 3 ,1 7 1 1In te re st o n b o n d s o u ts ta n d b o n d s o f th e U tic a H o m e T e le p h o n e C o . an d $ 1 ,0 0 0 ,0 0 0 first m o r t. b o n d
N e t ea rn in gs (a fte r t a x e s ) . .
8 6 ,4 8 7 ]
in g ($ 7 8 5 ,0 0 0 ) ____________ $39 ,250
o f th e I n d e p e n d e n t T e le p h o n e C o . o f S y ra cu s e , n o w o w n e d b y In d e p e n d e n t
I S u r p lu s ____________ ______ ____
4 7 ,2 3 7
T e le p h o n e S ecu rities C o ., an d b y $5 0 0 ,0 0 0 general m o r t. b o n d s o f R o c h e s t e r
E stim a te d n et earn in gs fo r n e x t y e a r _________________________________ $12 5,00 0
T e le p h o n e C o ., $ 5 0 0,00 0 a d d itio n a l first m o r t. b o n d s o f th e In d e p e n d e n t
C a p ita l s t o c k o u t s t a n d in g _______________________________________________ 800 ,0 0 0
T e le p h o n e C o . o f S y ra cu s e , $ 70 ,000 a d d itio n a l first m o r t. b o n d s o f U tic a
T h e c o m p a n y has c o m p le t e d near L o w e ll a c o m p le t e ste a m re la y pla n t
H o m e T e le p h o n e C o. and SI ,000,000 o f th e d e m a n d n o te s o f th e S tr o m b e r g o f 2 ,0 0 0 k w . (3 ,0 0 0 h . p .) c a p a c it y , w h ic h w ill be o p e r a te d at su ch tim es
C arlson T e le p h o n e M a n u fa ctu rin g C o . T h e re m a in in g b o n d s o f th e a u th o r ­
as th e w a t e r -p o w e r p la n ts are u n a b le t o ta k e c a r e o f th e d e m a n d fo r p o w e r .
ized issue o f $ 5 ,0 0 0 ,0 0 0 w ill b e reserv ed t o b e sold at s o m e fu tu re tim e fo r
C om p a re V . 8 1 , p . 1440.
th e a c q u is itio n o f a d d itio n a l p r o p e r tie s if th e bu sin ess o f th e n ew c o m p a n y
me
ro sp ro
Standard Oil Co.— New York Indictments.— The Federal b e c oa ch sp p rs o n ew hu s.h o ld s o n e $ 1 ,000 b o n d o f th e U n ite d S tates In d e p e n d e n t
E
e
o
Grand Jury on Aug. 9 at Jamestown, N. Y ., returned to T e le p h o n e C o . w ill b e e n title d , u p o n p a y in g $200 in ca s h , t o re ce iv e b o n d s
o f th e new c o r p o r a tio n o f th e p a r v a lu e o f $200 and s t o c k o f th e new c o r p o r a
Judge Hazel a report recom mending indictm ents against tio n o f th e p a r v a lu e o f $400. E a ch p erson w h o h o ld s o n e $ 1 ,0 0 0 b o n d
the Standard Oil Co. of New Y ork , the Vacuum Oil Co. of o f th e I n d e p e n d e n t T e le p h o n e S ecu rities C o. w ill b e e n title d , u p o n p a y in g
s h t re ce
s
c p
n
th e
Rochester (V. 85, p. 216) and the New Y ork Central and $200 in cas to,c k oo f th eiv e b ocn d p oo fa tth e new e opra ro r a tioe o o f$400; p a r%v a lueea cohf
$450 an d
new o r r io n o f th
v a lu
f
25
of
Pennsylvania railroad companies, containing in all 228 counts b o n d s u b s c r ip tio n w ill be p a y a b le s h o r tly a fte r th e p la n b e c o m e s e ffe c t iv e ,
ba
In
ode a
1
,0 0 0
ts
d g b n
against each of the companies named, charging them with th e th e la n cee p e nm e n t r T te In stallm en ts. T h e o$., ,0 3 5sh o u ldo ub e ta n minm b eored s
of
In d
d
e le p h o n e •S e cu rities C
.
“
it
re e
d,
obtaining or granting illrgal rebates on shipments made be­ w ere Issued fo r cash at p a r , and are secu red b y first m o r tg a g e b o n d s o f th e
r v
of $
00
s
e
r v
of $9
T
tween Aug. 1 1904 and June 1 1905. The jury adjourned p a n d sa lufeth e U1 ,1 4 7I,6 d e p an d eb y T to c k ho fn thC op aare a lu e red b y 7s4 ,0c0 0 . a lo nhee,
bo
o
. S. n
e n d n t e le p o e
.
secu
to k s
to Sep t. 5 when it will continue its w ork .
w h ic h w ere p u rch a s ed at p rice s fo u n d e d in p a r t u p o n v a lu e s g iv e n t o fr a n ­
I t Is ch a rg ed th a t w h ile th e le ga l rate fro m O le a n , N . Y . , t o N o r w o o d
chises.
w as 2 6 Yi cen ts p e r 100 lb s ., th e ra te ch a rg e d o n 228 cars (th e rate o n e a ch
T h e r e o rg a n iz a tio n plan specifies th e uses t o w h ic h th e ava ils o f th e $ 3 ,c a r c o n s t it u t in g a se p a ra te c o u n t in th e in d ictm e n ts ) w as o n ly 11.8 c e n ts .
0 0 0 ,0 0 0 o f b o n d s o f th e new c o r p o r a t io n are t o b e p u t .
T h e e x a c t d iv isio n
T h e im p o s itio n o f th e m a x im u m p e n a lty o f $ 2 0 ,0 0 0 o n e a c h c o u n t , in case
o f th e m o n e y s c o n te m p la te d is t o furnish $ 8 4 0,00 0 t o th e R o c h e s te r T e le ­
o f c o n v ic t io n ,
w o u ld
am ou n t to
$ 4 ,5 6 0 ,0 0 0 fo r e a ch o f th e fo u r
p h o n e C o ., $84 0 ,0 0 0 t o th e I n d e p e n d e n t T e le p h o n e C o . o f S y r a c u s e , $70 ,0 0 0
c o m p a n ie s .
C om p a re V . 85, p . 350.
to th e U tic a H o m e T e le p h o n e C o . an d $ 1 ,0 0 0 ,0 0 0 t o th e S tro m b e rg -C a rlso n
T e le p
M nu
C . T
o $ 1 ,0 ,0 0
fu rn
ed t th
Hearings in Government Suit.— The first hearing in the S tro mh oen e -C aarlsofa ctu rin g fg .oC o .b h e psum a sfin g an0d0 ca0 r y Is g th e ish te s o o t h ae
b rg
n T e l. M
y u rch
r in
no
f
t
action begun b y the Governm ent in St. Louis in November c o m p a n y , n o w o u ts ta n d in g t o th e a m o u n t o f $ 7 7 5 ,0 0 0 , an d b y le n d in g th a t
co m p a n y $ 2 2 5,00 0 m o re .
T h e sum s t o b e fu rn ish ed t o th e R o c h e s t e r ,
last (V . 83, p. 1233, 1293), has been fixed b y ex-Judge Frank­ S y ra cu se and U tic a te le p h o n e c o m p a n ie s w ill e n a b le th o s e c o m p a n ie s t o
lin Ferriss, of St. Louis, the special examiner therein, on d isch a rg e in fu ll all th e ir o b lig a tio n s e x c e p t th e ir b o n d e d d e b ts , a n d w ill p u t
th em
oun
an
c o n it
w
su b
n
p o v is
e
Sept. 3 at the Federal Building in this c ity .— V. 85, p. 350, each xo f n s io n s .in sT h e d fin in gcial suchd e xio nn, sioith w ill starntia l a rlargeio n dm a dn
fo r e te
m ak
of
te
ns
fu ish
a d it io
216.
t o th e bu sin ess o f th e S tr om b e rg -C a rlso n C o .
T h e ag g re g a te o f th e su m s
so t o be fu rn ish ed t o th e fo u r c o m p a n ie s is $ 2 ,7 5 0 ,0 0 0 , w h ic h lea v es a m a r­
Strom berg-Carlson Telephone M anufacturing C o.— See gin o f $25 0 ,0 0 0 .
I t Is b e lie v e d t h a t if th e w h o le $ 3 ,0 0 0 ,0 0 0 is p r o v id e d fo r th e fo u r c o m ­
United States Independent Telephone Co. below .— V . 83,
p a n ie s , a c o m p e te n t m a n a g e r e m p lo y e d b y th e S tr o m b e r g -C a r lso n T e le ­
p. 1175.
p h o n e M fg . C o. an d th e rates o f t h e R o c h e s t e r , S y ra cu se a n d U tic a te le ­
h
o
a
raised
som
t
as o
p r a c tic
,
anc
Strom berg-Carlson Telephone M anufacturing C o.— Notes. p f o n e cfum pren ie sccess o ft oth o s ee ceoxmepn t ,ii< s sw o n as Is x c e lle n a.b leT th e cha n n e s
o th e
tu
su
a
ill b e e
t
h ey c
ot
— See United States Independent Telephone Co. below .— s u rv iv e unless th e y ca n p r o d u c e b e tte r resu lts th a n h ith e r to . T h e b o n d s o f
th e R o c h e s t e r , S y ra cu s e an d U tic a te ie p h >ne c o m p a n ie s , w h ic h h ea r in ­
V. 83, p. 1175.
te re st at th e ra te o f 5 % p e r a n n u m , b e in g $ 2 ,1 7 0 ,0 0 0 , w ill y ie ld an in c o m e
A . C. Tu xbury Lum ber Co.— Bonds Of-fered.— Earnings.— o f $ 1 0 8 ,5 0 0 . (B u t fo r th e first t w o y e a rs it is p r o p o s e d t o r e d u c e th e in ­
te re st ch arges a gain st th e S yra cu se c o m p a n y t o 1 o r 2 % , t o e n a b le It t o g et
Mason, Lewis & C o., Boston, Chicago and Philadelphia, who its business w ell es ta b lis h e d .) T h e $ 1 ,0 0 0 ,0 0 0 o f d e m a n d n otes o f th e
are offering at par a block of the present issue of $500,000 S tr o m b e rg -C a rlso n T e le p h o n e M fg . C o ., at 6 % , w ill y ie ld $ 6 0 ,0 0 0 ; a sm all
d iv id e n d o f n o t m o r e th a n 2 o r 3 % o n th e p r e fe rre d s to c k o f th e la s t-n a m e d
first mortgage 6s, report:
c o m p a n y w ill p r o d u c e th e a d d itio n a l in c o m e w h ich w ill b e n e e d ed b y th e n e w
c o r p o r a t io n t o e n a b le It t o p a y its b o n d Interest.
Statem en t o f O p era tio n s fo r Tw elve M o n th s ending M a n 1 1907.
B y th e r e o rg a n iz a tio n p la n , If th e sam e b e c o m e s e ffe c tu a l, su ffic ie n t fu n d s
G ross e a r n in g s _______________ $ 4 1 4 ,7 4 7 1T o ta l n e t in c o m e _____________$ 1 7 4,42 3
w ill be p r o d u c e d , as a lre a d y s ta te d , t o en a b le th e R o c h e s t e r , S y ra cu se a n d
O p e ra tin g e x p e n s e s --------------- 2 4 5 ,9 2 3 j *L ess stu m p a g e ,$ 2 p e r 1,000
31,280
U tic a te le p h o n e c o m p a n ie s t o p a y and d isch a rg e th e ir o b lig a tio n s in fu ll.
N e t i n c o m e __________________ 1 68 ,824 |
---------------N e a rly $8 0 0 ,0 0 0 is o w in g b y t h o s e th re e c o m p a n ie s t o th e U . S. In d e p e n d e n t
O th e r I n c o m e . _______________
5 ,5 9 9 |N e t p r o f it ____________ ______ .$ 1 4 3 ,1 4 3
T e le p h o n e C o ., on a c c o u n ts assign ed t o it b y th e S tro m b e rg -C a rlso n T e le ­
p h o n e M fg . C o.
T h e U . S. I n d e p e n d e n t T e le p h o n e C o . has g iv e n an o p t io n
• * T h is stu m p a g e c h a rg e is m a d e t o re im b u rs e th e c a p ita l a c c o u n t fo r u p o n th e secu rities o f th e U ta h I n d e p e n d e n t T e le p h o n e C o. held b y It
m o n e y s p a id o u t fo r o rig in a l p u r c h a s e o f th e s ta n d in g t im b e r .— V . 8 4 , p .
(co m p a re V . 83, p. 1175) fo r th e sum o f $ 9 5 0 ,0 0 0 , an d has re c e iv e d a cash
1252.
p a y m e n t o f $50 ,0 0 0 t o be ap p lie d as a p a r t o f th e p u rch a s e p r ice if th e sale
United States Independent Telephone Co. of Rochester, is c o n s u m m a te d . I f th e $95 0 ,0 0 0 is realized fro m th e sale o f th e U ta h se­
cu ritie s,
h ic
to g
r
e
o
th
ster,
a­
N. Y .— Reorganization Plan.— The reorganization com m ittee cu se an d wU tich , te le e thoen e wcith pthn iea c canudn tsthaegra incsto u ne s ,R o c h ep le d g eS y ras
a
ph
om a
s
o
a c
t
are
d
of this com pany and the Independent Telephone Securities co lla te ra l fo r th e $ 2 ,5 0 0 ,0 0 0 n o te issue o f th e U . S . In d e p e n d e n t T e le p h o n e
C o . , th a t su m , w ith th e a m o u n ts w h ic h w ill b e p a id b y th e R o c h e s te r , S y r a ­
Co. have form ulated a plan which provides in brief:
cu se a n d U tic a c o m p a n ie s , if th e r e o rg a n iz a tio n p la n su c c e e d s , w ill p r a c t i­
ca lly retire said co lla te ra l n o te Issue.
(C o m p a re V . 8 3 , p . 70 4 , 767 , 1175.)
A c t io n s w ill b e b r o u g h t fo r th e fo re c lo s u r e o f th e m o r tg a g e s o f b o th c o m ­
S e p t. 15 is th e d a te fix e d o n o r b e fo r e w h ich th e b o n d h o ld e rs m u st tu rn
p a n ie s .
A n ew c o r p o r a t io n w ill be o r g a n iz e d , u n d e r th e law s o f th e S ta te
in th e ir b o n d s and s u b s crip tio n s .
o f N ew Y o r k , w ith a c a p it a l o f $ 6 ,0 0 0 ,0 0 0 , t o ta k e o v e r th e se cu ritie s p u r ­
Suits h a v e a lre a d y be e n b r o u g h t b y S y ra cu se b a n k s , and are n o w p e n d ­
ch ased .
T h e new c o r p o r a t io n w ill e x e c u t e a n ew m o r tg a g e t o secu re a
in g , a g a in st th e R o c h e s te r T e le p h o n e C o ., th e I n d e p e n d e n t T e le p h o n e C o.
b o n d issue o f th e m a x im u m a m o u n t o f $ 5 ,0 0 0 ,0 0 0 , th e b o n d s t o b e a r in terest
o f S y ra cu se and th e I n d e p e n d e n t T e le p h o n e S e cu rities C o . . In v o lv in g $161 ,a t 4 % fo r t h e first y e a r a n d 5 % fo r th e s e co n d y e a r , a n d 6 % th e r e a fte r .
000 .
T h o se b a n k s h a v e agreed t o ta k e n o fu rth e r step s in th e a c tio n s u n til
$ 3 ,2 5 0 ,0 0 0 o f th o s e b o n d s , a n d n o m o r e , w ill b e issu ed u n d e r th is p la n ;
afte r A u g . 20, and h a v e also ag reed th a t if at th a t tim e th ere Is a r e a son a b le
T h e b o n d s w ill be se cu re d b y p le d g e o f a ll th e se cu ritie s n o w o w n e d b y
p r o s p e c t th a t this reora-n.,t7,ati^T1 nian w ill b e c o m e e ffe ctu a l, t h e y w ill g ra n t
th e U n ite d S ta tes I n d e p e n d e n t T e le p h o n e C o . a n d n o w s u b je c t t o its
fu r th e r e x t e n s io n s .— V . 8 5 , p . 289 .
m o r tg a g e , e x c e p t th e s t o c k o f th e N ew Y o r k I n d e p e n d e n t T e le p h o n e C o .
a ls o b y all t h e s t o c k s an d b o n d s o f th e In d e p e n d e n t T e le p h o n e C o . o f S y ra
For other Investment News see pages 415 and 416,
c u se a n d th e H o m e T e le p h o n e C o , o f U tic a n o w h eld b y t h e I n d e p e n d e n t




THE CHRONICLE.

410

^ R e p o rts a n ti

[V o l .

lxxxv

0

H o c itm c n ts ,

L E H IG H V A L L E Y R A IL R O A D COMPANY.
A B STR A C TS FRO M T H E F IF T Y -T H IR D A N N U A L R E P O R T — FO R T H E FISCAL Y E A R E N D E D JUNE 30 1907.
Philadelphia, August 14 1907.
To the Stockholders of the Lehigh Valley Railroad Company:
The Board of D irectors herewith subm it the fifty-third
annual report of the business of your Com pany and its allied
interests for the fiscal year ended June 30 1907.

The average haul increased from 197.40 to 199.42 miles,
an increase o f 2.02 miles, or 1.02 per cent.
Com pany’s material am ounting to 431,139 tons was trans­
ported during the year, being an increase of 23,923 tons, or
5.87 per cent.

M IL E A G E .
The mileage of railroads ow ned and operated b y the Lehigh
Valley Railroad Com pany, the m ain line of which extends
from Jersey City, N. J., to Buffalo, N . Y ., is as follows:'

The total earnings from both coal and merchandise freight
aggregated $30,107,572 00, an increase of $2,924,879 48,
or 10.76 per cent, as com pared with the previous year.
The entire freight traffic am ounted to 28,153,980 ton s,
being an increase of 2,585,729 tons, or 10.11 per cent.
The num ber of tons carried one mile was 4,770,099,930,
an increase of 427,222,565, or 9.84 per cent.
The average distance carried was 169.43 miles, a decrease
of .42 mile, or .25 per cent.
The average revenue per ton was 106.94 cents, as against
106.31 cents last year, being an increase of .63 cent, or
.59 per cent.
Com pany’s freight, not included in the above, am ounted to
2,481,863 tons, an increase of 270,926 tons, or 12.25 per cent.
The total freight-train mileage was 9,062,057 miles, an
increase of 440,174 miles, or 5.11 per cent, while the volum e
of tonnage increased, as shown above, 10.11 per cent.
Revenue received per freight-train mile was $3 32, as
com pared with $3 15, being an increase of 17 cents, or 5.40
per cent.
The average train load of revenue freight was 526.38 tons,
an increase of 22.68 tons, or 4.50 per cent. Including Com­
pany’s freight, the average train load was 546.28 tons, as
against 523.34 last year, an increase of 22.94 tons, or 4.38
per cent.
The average num ber of tons of revenue freight in each
loaded car was 21.83 tons, an increase of 1.37 tons, or 6.70
per cent. Including Com pany’s freight, the average car­
load on the system was 22.66 tons, an increase of 1.40 tons,
or 6.59 per cent.

M ile s .
O w n e d , o r co n tr o lle d b y ow n e rsh ip o f e n tire c a p it a l s t o c k ---------------1,2 0 5 .4 8
C o n trolled b y ow n ersh ip o f m a jo r it y o f c a p ita l s t o c k _______________ 157.39
C o n trolled b y lea ses______________________________________________________
27 .8 8
T o t a l m ileage op e r a te d i6 w n e d an d c o n t r o ll e d ) ___________________ 1 ,3 9 0 .7 5
T r a c k a g e rig h ts o v e r railroads o w n e d b y o th e r c o m p a n i e s __________
49.4 7
T o ta l m ile a g e __________________________________________________________1 ,4 4 0 .2 2

— of which 579.14 miles, or 40.21 per cent, have second track,
56.18 miles have third track and 20.47 miles have fourth
track. • There are also 1,067.29 miles of yard tracks and
sidings on the system.
The decrease of 4.74 miles of first track is due principally
to the removal of various colliery branches and to the change
o f a portion of the old main line at Allentown to third and
fourth tracks.
The decrease shown in miles of yard tracks and sidings
is occasioned b y withdrawing therefrom the fourth-track
mileage, which, in view of additional construction, is now
shown as a separate item. The more im portant increases
are referred to elsewhere in the report.
E A R N IN G S A N D E X P E N S E S .
The following statement shows the gross earnings, ex­
penses and net earnings from the operation of the entire
system for the fiscal year, not including other incom e.
For comparative purposes, similar figures are also given
for the fiscal year of 1906.
G R O SS E A R N IN G S .
F rom —
1907.
C oal f r e i g h t ___
___
$1 5 ,1 1 0 ,8 9 9
O th er fr e ig h t .
___
1 4 ,9 9 6 ,6 7 2
4 ,3 6 3 ,4 5 2
P a s s e n g e r ___________
E x p r e ss - - - .
3 73 ,953
M a i l ________
.
217 ,792
1,0 0 5 661
M is c e l la n e o u s _______ v. . .
T o t a l e a r n in g s ..

-

38
62
12
30
69
4p

1906.
$ 1 3 ,2 4 8 ,5 6 5
1 3 ,9 3 4 ,1 2 7
3 ,9 7 1 ,3 9 2
367 ,7 0 6
217,745
1 ,0 5 0 ,3 1 9

42
10
05
36
88
82

.$ 3 6 ,0 6 8 ,4 3 1 51
$ 3 2 ,7 8 9 ,8 5 6 63
O P E R A T IN G E X P E N S E S .

F or—
190 7.
M a in ten a n ce o f w a y an d
s tr u c tu r e s .
$ 3 ,1 9 6 ,8 5 4
M a in te n a n ce o f e q u ip ’t - 6 ,186,641
C o n d u c tin g t r a n s p o r ta t’ n 1 2,100,681
G eneral exp en ses
_
6 30 ,075

$ 3 ,1 5 3 ,2 4 5
5 ,4 8 5 ,7 9 4
1 0 ,8 9 1 ,9 5 3
621 ,2 1 7

+ $ 3 ,2 7 8 ,5 7 4 8
In crea se ( + ) or
D ecrea se (— ) .

190 6.
34
83
44
28

In c r ea se ( + ) or
D ecrea se (— ) .
+ $1 ,8 6 2 ,3 3 3 96
+ 1,062 545 52
+ 39 2 ,0 6 0 07
+ 6,2 4 6 94
+ 46 81
— 4 4 ,6 5 8 42

22
06
73
71

+ $43 ,6 0 9
+ 7 0 0 ,8 4 7
+ 1 ,2 0 8 ,7 2 7
+ 8,8 5 7

12
77
71
57

T o t a l e x p e n s e s _______$ 2 2 ,1 1 4 ,2 5 2 89

$ 20 ,152 210 72

+ $ 1 ,9 6 2 ,0 4 2 17

N e t earn in gs fro m o p e r a ­
t i o n s ___________ . ___ $ 1 3 ,9 5 4 ,1 7 8 62

$ 1 2 ,6 3 7 ,6 4 5 91

+ $1 ,3 1 6 ,5 3 2 71

6 1 .4 6

— .15

P e r c e n ta g e o f o p e ra tin g
ex p en ses t o g ross ea rn ­
ings ........ ..........................

61.31

The gross earnings of the Com pany for the year am ounted
to $36,068,431 51, an increase as com pared with the previous
fiscal year of $3,278,574 88, or 10 per cent. The total op ­
erating expenses am ounted to $22,114,252 89, an increase
of $1,962,042 17, or 9.74 per cent. The ratio of expenses
to earnings was 61.31 per cent, a decrease as com pared with
the previous year of .15 per cent.
E A R N IN G S .
C O A L F R E IG H T .

The transportation of coal, including coke, yielded a
revenue of $15,110,899 38, an increase of $1,862,333 96, or
14.06 per cent, as com pared with the previous year.
>- The percentage o f coal earnings to gross earnings was
41.89 per cent, an increase of 1.49 per cent.
- The coal and coke tonnage transported, not including
supply coal, am ounted to 14,374,216 tons, an increase of
1,621,163 tons, or 12.71 per cent, over the year previous.
The num ber of tons m oved one mile am ounted to 2,022,206,603, an increase of 209,028,261, or 11.53 per cent.
The average haul decreased from 142.18 miles to 140.68
miles, a decrease of 1.50 miles, or 1.06 per cent.
The coal tonnage was 51.06 per cent of the total tonnage
hauled during the year, as against 49.88 per cent for the
previous year, being an increase of 1.18 per cent.
M E R C H A N D IS E F R E IG H T .

The earnings derived from the transportation o f merchan­
dise freight am ounted to $14,996,672 62, an increase of $1,062,545 52, or 7.63 per cent, as com pared with the previous
year.
The percentage of earnings derived from the transportation
of merchandise freight to gross earnings was 41.58 per cent,
a decrease of .92 per cent.
The tonnage m oved, exclusive o f Com pany’s material, was
13,779,764 ton's, an increase of 964,566 tons, or 7.53 percen t.
The num ber of tons carried one mile am ounted to 2,747,893,327, an increase of 218,194,304 tons, or 8.63 per cent.




G E N E R A L F R E IG H T T R A F F IC .

P A S S E N G E R T R A F F IC .

The revenue from this class o f traffic am ounted to $4,363,452 12, an increase of $392,060 07, or 9.87 per cent, as com ­
pared with the previous year.
Total number of passengers carried was 5,181,533, an in ­
crease of 191,544, or 3.84 per cent.
The number of passengers carried one mile increased
23,102,299, or 10.16 per cent.
The average revenue paid b y each passenger was 84.21
cents, an increase of 4.62 cents, or 5.80 per cent.
The average revenue per passenger per mile was 1.742
cents, a decrease o f .005 cents, or .29 per cent.
The average distance traveled b y each passenger was 48.34
miles, an increase of 2.78 miles, or 6.10 per cent.
Passenger-train mileage was 4,084,695, an increase of
175,385, or 4.49 per cent.
The earnings from passengers per passenger train mile
were 106.82 cents, an increase of 5.23 cents, or 5.15 per cent;
the average num ber of passengers per train was 61.32, an
increase of 3.16, or 5.43 per cent; and the average num ber of
passengers per car was 17.88, a decrease of .03, or .17
per cent.
EXPRESS.

The earnings from this source am ounted to $373,953 30,
an increase of $6,246 94.
M A IL .

The revenue derived from the transportation of United
States mails am ounted to $217,792 69, an increase of $46 81.
M IS C E L L A N E O U S .

Miscellaneous earnings am ounted to $1,005,661 40, a de­
crease of $44,658 42. The details of these earnings appear
in Table No. 8 .
EXPEN SES.
M A IN T E N A N C E O F W A Y .

Expenditures am ounting to the sum of $3,196,854 34 were
made for the maintenance of w ay and structures, being an
increase of $43,609|12, or 1.38 per cent, as com pared with
the previous twelve months.
During the year eleven steel bridges, replacing lighter
metal structures, and seventeen steel bridges, replacing
w ooden bridges and trestles, were erected. Eight metal
bridges and four w ooden bridges and trestles were filled in.
97.55 miles of single track were fully ballasted and 29.70
miles partially ballasted with stone, for which purpose 307,637 cubic yards of crushed stone and 46,379 cubic yards of
screenings were used. In addition, 36 miles were fully
ballasted with gravel, and 41 miles raised and ballasted
with cinders.
235,752 feet, or 44.65 miles, of Com pany’s sidings and
30,835 feet, or 5.84 miles, of private sidings were constructed.
19,743 tons of new 90-pound rail, together with necessary
frogs, switches, e tc ., were placed in the track.
373,985 tie plates were used.
569,272 cross-ties, 1,606,213 feet B. M. switch ties, 377,127
feet B. M. bridge ties and lumber am ounting to 3,906,278
feet B. M ., were used during the year.

Atjg. 17 1907.J

THE CHRONICLE

C O N D U C T IN G T R A N S P O R T A T I O N .
Drain tile to the extent of 10,800 feet, or 2.05 miles, was
used.
The total expense of conducting transportation was $ 12,1.26 miles of portable snow fences were erected at various 100,681 44, being an increase o f $1,208,727 71, or 11.10 per
poin ts1
cent, as com pared with the previous fiscal year. FreightA new 62-lever electrically operated interlocking plant train mileage increased 5.11 per cent, and ton miles increased
was put in operation at W yandotte Street, South Bethle­ 9.84 per cent. Passenger-train mileage increased 4.11 per
hem, replacing manual plants at North Penn Junction and cent, and passenger miles increased 10.16 per cent.
Brodhead Avenue. A t Van Etten, a 25-lever electrically
The ratio of conducting transportation to gross earnings
operated plant was installed, replacing a manual plant of was 33.55 per cent, as against 33.22 per cent last year, an
11 levers. Interlocking plants were installed at Cortland increase of .33 per cent.
with 31 levers, Silver Brook 16 levers, Laurel Junction 18
The increase in this class of expenses is due to an increased
levers, Malone’s Siding 2 levers, and additions made at Sayre volum e of traffic, increased rates of wages paid employees
of 4 levers, Pittston Junction 5 levers, Pine Junction 5 levers and the greater cost of all materials and supplies.
and Coxton 6 levers.
G EN ERAL EXPENSES.
Increased commissary and laundry accom m odations for
The total expenditures under this head am ounted to $630,the dining-car department were provided at South Easton.
075 28, an increase o f $8,857 57.
A t Scott Street, Buffalo, additional team tracks and drive­
TAXES.
ways were put in and the canal bridge rem oved. Two local
The taxes paid am ounted to $885,908 95, or 2.46 per cent
delivery sidings were constructed at Constable H ook. The
of the Com pany’ s gross earnings, an increase of $178,869 05,
local freight facilities at Allentown were increased b y the or 25.30 per cent.
construction of tw o sidings and a driveway.
F LO A TIN G EQ U IPM E N T.
Track scales of 100 tons capacity each were installed at
South Plainfield, Delano and North Fair Haven.
The lake fleet of the Lehigh Valley Transportation Com­
2.25 miles of new telegraph and telephone pole line were pany shows no change in the num ber or character of the
constructed, 17.44 miles rebuilt and 81 miles re-set. Tele­ vessels, the equipm ent being as follows:
graph wires were extended from Silver Brook Junction to
N a m e—
C a p a city .
W ilk e s -B a rr e ________________________________________________________ 6,0 0 0 to n s
New Boston Junction, a distance of 6.2 miles.
M a u ch C h u n k ________________________________________________________ 6,0 0 0
“
Copper metallic telephone circuits were extended from B e th le h e m _____________________________________ : _________ ; _________ 3 ,0 0 0 “
Senec
3,0 0 0
Roan to Lum ber Y ard, a distance o f 6.75 miles; from Coxton S a r a n a ________________________________________________________________ 3,0 0 0 “
a c -----------------------------------------------------------------------------------------------“
to Ransom , 3.5 miles; and at the Tifft Farm Terminal 2.3 T u s c a r o r a _____________________________________________________________ 3,0 0 0 “
The floating equipm ent in New York Harbor at the close
miles. Iron metallic telephone circuits were erected be­
tween R ockport and Penn Haven Junction, a distance of of the year consisted of—
23 tu g s ,
6 ste a m lig h te rs,
185 b a r g e s ,
6.1 miles.
22 c a r flo a ts ,
4 ca ttle flo a ts ,
1 w a te r b o a t ,
G rounded telephone circuits were installed between
3 w o rk b o a ts ,
1 w re ck in g b o a t .
fgl
Treichler and R ockdale, a distance o f 6.2 miles, and between
Tw o ocean-going tugs, tw o harbor tugs, one steam lighter,
Sw artw ood and Park Station, a distance of 3.8 miles. 1
tw en ty-tw o barges and tw o car floats were purchased and
115.6
miles o f new copper, 1 mile o f new iron and 37.45
charged to Expenses and Reserve Funds. One tug and tw o
miles o f second-hand iron wire were used in extending tele­ barges, unfit for further service, were sold. One car float
phone, telegraph and signal wires. 105.5 miles of copper was converted into a cattle float.
wire were used in replacing worn-out wires in the same service.
Am ple expenditures have been made for the maintenance
o f the equipm ent and it is in good condition.
M AINTENAN CE OF EQUIPM ENT.

The sum o f $6,186,641 83 was expended during the year
for the maintenance of equipm ent, being an increase of $700,847 77, or 12.78 per cent, as com pared with the preceding
year. This increase is due to the necessarily greater expense
o f maintaining the larger number o f locom otives and cars
now comprising the Com pany’s equipm ent, to the additional
cost of labor and m aterial, and to the increased charges to
this account for equipm ent condem ned and taken out of
service.
Forty freight, ten switching and five passenger locom otives
were purchased, forty o f which were charged to Capital
A ccou n t. Two 8-wheel locom otive cranes and fifteen 8 ,000gallon capacity tenders were also purchased.
Ten locom otives, unfit for further service and too light to
warrant rebuilding, were sold and Operating Expenses
charged with their value.
The total number of locom otives at the end of the year
was 857, having a tractive power of 22,777,258 pounds, an
increase o f 45 locom otives and 1,828,909 tractive power
pounds.
The average tractive power per locom otive at the close
of the year was 26,578 pounds, an increase of 780 pounds,
or 3.02 per cent.
Nine locom otives were rebuilt, 63 new fire boxes, tw o new
tender frames and tw o new cisterns were applied. Three
4,500-gallon capacity tenders were constructed.
There were purchased and placed in service during the
year under Equipm ent Trust, Series I, tw o thousand 80,000pounds capacity steel under-frame b ox and tw o thousand
100.000-pounds capacity steel coal cars. Five hundred
80.000-pounds capacity steel under-frame b ox cars were
purchased and charged to Capital A ccount. Five hundred
80.000-pounds capacity steel under-frame b ox , one d ning
and tw enty express cars were purchased and charged to
A dditions and Im provem ents. Five hundred 80,000-pounds
capacity steel gondola, one hundred and tw o 60,000-pounds
capacity steel under-frame produce, tw enty-five 60,000pounds capacity steel under-frame autom obile and ten
80.000-pounds capacity steel under-frame b ox cars were
purchased and charged to Expenses and Equipm ent Renewal
Reserve.
Thirteen 4-wheel steel under-frame caboose cars and one
act o f 285,000-pounds capacity gun and arm or trucks were
built.
One com bination passenger and baggage car, one express
car, 998 freight equipm ent cars and 26 road-service cars
were condem ned and destroyed during the year and the
value thereof charged to Operating Expenses.
The total num ber of freight equipm ent cars in service
at the end o f the year was 41,810, having a capacity of 1,357,740 tons, an increase of 4,649 cars and 221,784 tons.
One cafe car was converted into a dining car, one chair car
in to a passenger coach and three coaches assigned to road
service.
394 passenger equipm ent cars were painted and varnished
and fifteen equipped with wide vestibules and standard
steel platforms.
Air brakes were applied to 397 freight equipm ent cars at
a cost of $21,940.




T H E L E H IG H V A L L E Y COAL CO M PAN Y.
The financial condition o f The Lehigh Valley Coal Com­
pany is indicated b y its General Balance Sheet published
herewith (Table No. 17). The follow ing statement shows
the funded debt o f the Com pany and the yearly interest
charges thereon:
N a m e—
P r in c ip a l.
T h e L e h igh V a lle y
C oal C o .—
1st M o r t. b o n d s ,
issue o f 1 8 9 2 _ $ 1 0 ,114 ,0 0 0
1st M o rt. b o n d s,
issue o f 1 8 9 2 .
1 ,4 0 0 ,0 0 0
S n o w Sfioe M o r t.
3 5 9 ,5 0 0
D e la n o L a n d C o .—
1st M o r t. b o n d s . 1 ,0 8 4 ,0 0 0
T o t a l, Ju n e
1907

D a te o f --------------Y e a r ly In terest-------------M a tu r ity .
R ate.
W h en D u e . A m o u n t

J a n . 1 1933 5 % g o ld Ja n . & J u ly $ 5 0 5 ,7 0 0
J a n . 1 1933 4 % g o ld
J a n . 1 1910 5 %

”
”

5 6 ,0 0 0
1 7 ,975

J a n . 1 1932 5 % g o ld

”

5 4 ,2 0 0

30
$ 1 2 ,9 5 7 ,5 0 0 ............................... ....................... .............. $ 63 3,87 5

The total production of anthracite coal from the lands
ow ned and controlled b y The Lehigh Valley Coal Com pany
and other companies in which it and the Lehigh Valley Rail­
road Com pany are interested, through ownership of stock,
was 8,867,254.18 tons for the fiscal year ended June 30 1907,
as against 7,667,665.14 tons for the preceding year, an in­
crease of 1,199,589.04 tons, or 15.64 per cent.
During the year The Lehigh Valley Coal Com pany and
affiliated companies produced and purchased 87.11 per cent
o f the anthracite coal transported b y the Lehigh Valley
Railroad Company.
From the operations of the Snow Shoe property there were
mined 187,390.03 tons of bituminous coal, as com pared with
210,728.17 tons for the previous twelve months.
The net results for the fiscal year have been seriously
affected b y many adverse circumstances. A t the beginning
of the year a cave-in occurred at W arrior Run, resulting in
an explosion of gas that fired the mine, making it necessary
to flood the entire operation. In October Exeter Breaker
was demolished b y a tornado. Centralia Breaker was idle
for a period of seven months due to the breakage of machinery
and the need of extensive repairs that could no longer be
deferred without endangering the entire plant. Not only
was the tonnage f^om these operations lost to the Com pany
at a time when most needed and productive of the greatest
profit, bu t the expense of reopening the W arrior Run mine
and repairing the damaged breakers was so heavy, com bined
with other conditions, as to reduce the earnings to a mini­
mum for several months. The anthracite coal-handling
plant and storage yard at South Chicago, with a stock of
coal exceeding forty thousand tons, was entirely destroyed
b y fire in N ovem ber, and, although partially covered b y in­
surance, the loss of these facilities was an additional burden
upon the Com pany. Further, the shortage of cars was so
severe during the winter and early spring as to require many
of your collieries, spread over the extended region in which
the Com pany’s operations are conducted, to close down fre­
quently during that period with less than a day’s output,
and this, with the inability o f connecting roads to prom ptly
m ove to destination such tonnage as had been sold, resulted
not only in an excessive cost of operation, put prevented the
sale of coal during a time when it could have been marketed
at the greatest profit.

412

THE CHRONICLE.

The W arriour Run Colliery and also Exeter andCentralia
Breakers, which were rebuilt and enlarged to permit of
handling a greater tonnage, are now in full operation. The
new Sayre Colliery at Mt. Carmel, referred to in the last
annual report, is also in successful operation. The work of
rebuilding the coal-handling plant and yard at South Chi­
cago, w ith an increased capacity, on a basis permitting of
more econom ical operation than the old plant, was begun
im m ediately after the fire, and the same will be in operation
before the winter.
The construction of an additional coal-storage building
and dock, w ith a capacity of 75,000 tons, together with
necessary m achinery for handling anthracite coal, at Mil­
waukee, has been authorized, and the work is under way.
New retail coal yards and trestles have been established at
59th Street, Chicago, and Syracuse, and a new trestle is in
process of construction at Geneva. The coal-handling plant
and storage yard at West Superior, and the yards at 31st
Street, Chicago, and Walden Avenue, Buffalo, are being
enlarged. The total cost of this work to June 30th was
$167,855.20.
In addition to the foregoing, im provem ents and better­
ments am ounting to $708,169 09 were made to the various
collieries during the year, of which am ount $250,000 has been
charged to the special appropriation made b y the Board
from the incom e of the previous fiscal year.
W ith the rebuilding of the operations m entioned, together
with the im provem ents under w ay, and the property in a
better physical condition than form erly, the future is en­
couraging.
The Advance R oy alty A ccou n t has been decreased by
$25,918 69.
The sinking funds of the several mortgages have been fully
maintained.
F IN A N C IA L.
There were issued during the year, under authority of your
Board, $5,539,000 General Consolidated Mortgage Bonds,
bearing interest at the rate of four per cent per annum, of
which $539,000 were sold for various sinking fund purposes
and to provide for the acquirement of additional capital
stock of certain subsidiary companies the m ajority of whose
capital stock is owned b y your Com pany. The remaining
$5,000,000 bonds, together with $2,000,000 previously
issued, are in the treasury, making $7,000,000 of these bonds
available for future needs.
The Montrose Railroad Com pany, successor to the prop­
erty and franchises o f the Montrose Railw ay Com pany, as
referred to in the last annual report, created during the year
a first mortgage securing an issue of $ 100,000 four per cent
fifty-year bonds. The same have been issued to your Com­
pany and are now in its treasury in exchange for a like amount
of bonds issued by the old com pany, which were canceled.
An equipm ent trust known as Series I, am ounting to
$4,000,000, was created under date of August 1 1906,
covering tw o thousand coal cars of 100,000 pounds capacity
each and tw o thousand b ox cars of 80,000 pounds capacity
each. The certificates issued under the trust agreement
bear interest at the rate of four per cent per annum and are
payable in ten annual installments of $400,000 each, the last
installment being due September 1 1916. All of the cer­
tificates are in your treasury.
The $300,000 Canastota Northern Railroad Com pany
First Mortgage six per cent Bonds were paid off at maturity
July 1 1906 and the mortgage satisfied of record.
The mortgage of The Lehigh & Lake Erie Railroad Com­
pany, which provided for the issue of $3,000,000 four per
cent First Mortgage Bonds to cover the cost of constructing
that road, together with the bonds issued thereunder, was
canceled and a new mortgage, dated March 1 1907, securing
a similar am ount of bonds maturing in fifty years and bear­
ing interest at the rate of four and one-half per cent per
annum, was executed. $2 ,000,000 of these bonds were re­
ceived and sold b y your Com pany, the proceeds being ap­
plied in partial settlement of the advances made to date for
construction, leaving a balance of $353,574 96 not reimbursed
at the close o f the year. This am ount and the further ad­
vances necessary to complete the road will be reimbursed
b y the remaining $ 1,000,000 bonds.
Under date of June 27 1907 The Lehigh & Lake Erie Rail­
road Com pany was consolidated with The Lehigh Valley
R ailw ay Com pany, your New York State railroad. The
authorized capital stock of the latter com pany was increased
b y $2,343,000, of which $343,000 was issued to your Com­
pany, $25,000 to absorb the stock of the former and $318,000
in reimbursement of the am ount advanced, with interest
thereon, to The Lehigh Valley Railw ay Com pany to retire
the Canastota Northern Railroad Com pany First Mortgage
six per cent Bonds, an obligation of the Railw ay Company
that matured July 1 1906, as previously m entioned. The
stock so received was pledged with the Trustee o f the General
Consolidated Mortgage, as provided therein. The remain­
ing $2,000,000 stock will be issued to the Lehigh Valley
Railroad Com pany as future advances are made for im prove­
ments and betterm ents to the property of The Lehigh Valley
Railw ay Com pany.
& T o reimburse your Com pany for advances made for the
construction and enlargement of their plants, the Hazleton
W ater Com pany and the Locust Mountain W ater Com pany,
the entire capital stock of which companies is owned b y the
Lehigh Valley Railroad Com pany, have issued, in the case




|VOL. LXXXV.

of the form er, $50,000 additional capital stock and $300,000
First Mortgage fifty-year five per cent Bonds, and, in the
case of the latter, $75,000 additional capital stock and $125,000 First Mortgage fifty-year five per cent Bonds. All of
these securities have been received b y your Company and
are in the treasury, with the exception of $50,000 Hazleton
W ater Com pany Bonds held in reserve b y that Company
for future use.
The construction account of the Bay Shore Connecting
Railroad Com pany has been closed and capital stock of the
com pany received by the Central Railroad Com pany of New
Jersey and your Com pany in settlement of advances made,
as referred to in the previous annual report.
There were sold for sinking fund purposes $44,000 bonds
of the Mutual Terminal Company of Buffalo.
Payments am ounting to $1,002,000 were made on account
of matured principal of Equipment Trusts, Series B, C, D ,
E , F, G and H , and the Maritime Mortgage of the Lehigh
Valley Transportation Company. Car Trusts Series B and
the Maritime Mortgage, both o f which matured during the
year, were paid off and satisfied of record. The title to the
equipm ent pledged under the form er, consisting o f one
thousand 60,000-pounds capacity coal, fifty stock and six
com bination cars, was vested in the Lehigh Valley Railroad
Com pany, and the title to the floating equipment pledged
under the latter mortgage, being the tw o lake steamers,
“ Wilkes-Barre” and “ Mauch Chunk, and thirty-tw o barges,
was vested in the Lehigh Valley Transportation Company, the
entire capital stock of which is owned b y your Company.
A t the close of the year the total outstanding equipment
trust obligations o f the Company in the hands o f the public
were $2,024,000. Equipment Trust Certificates Series H
and I, am ounting to a total of $4,540,000, are in your treas­
ury and may be sold as occasion arises.
A suit was brought in the year 1904 b y the holders of the
preferred capital stock of the Com pany to secure the payment
of dividends from the year 1893 to 1904 inclusive, which
such holders claimed were cumulative. The Supreme Court
o f Pennsylvania sustained their contention and the dividends
with interest, amounting to the sum of $116,673 96, were
paid.
Y our Board, on December 19 1906, declared a semi-annual
dividend of five per cent on the preferred capital stock and
a semi-annual dividend of tw o per cent, with an extra divi­
dend of one per cent, on the common capital stock of the
Com pany, payable January 12 1907. Similar dividends were
declared on June 19 1907, payable July 13 1907.
The increase of $5,955,552 55 in Capital Account repre­
sents the purchase of new equipm ent during the year, as pre­
viously mentioned.
Current Assets are $8,413,967 54 in excess of Current
Liabilities.
The value of material and supplies on hand at the close
of the fiscal year am ounted to $2,099,145 22, an increase of
$283,218 32, which is due to the greater cost as well as the
additional quantity required for the increased equipment
and business of the Company.
The increase in Securities Owned is explained b y the
additional securities issued to your Company for advances
made to various subsidiary companies, and b y the purchase
of outstanding stock of companies the m ajority of whose
capital stock is owned b y the Lehigh Valley Railroad Com ­
pany.
Bills Receivable A ccou n t has been increased b y $182,500
notes of the Buffalo Thousand Islands & Portland Railroad
Com pany, a road projected b y the New Y ork Central &
Hudson River Railroad Com pany and this Company to give
additional connection with the Niagara Frontier, for sums
advanced from time to time for surveys and right of way of
that line, a portion of which has heretofore been carried in
the account Advances to Other Companies.
The am ount o f capital stock issued remains unchanged.
The Com pany’s cash on hand shows a decrease as com ­
pared with the previous year, which is due principally to the
large purchases of equipm ent that were paid for out of cur­
rent cash.
The accounts of the Com pany for the fiscal year, in accord­
ance with the usual practice, have been examined b y certified
public accountants, and the result of such examination is set
forth in the accountants’ certificate published herewith.
The General Balance Sheet and various statements ap­
pended show the financial condition of the Com pany at the
end of the fiscal year.
GENERAL REM ARK S.
The general im provem ent of your property has continued
throughout the year and it has been fully maintained.
Included in the Com pany’ s equipm ent are m any small
wooden coal and b ox cars, ranging from twenty to thirty
tons capacity, that are expensive to maintain b y reason of
their age as well as productive of but little revenue, ow ing
to their limited capacity. While these cars have been fully
maintained and w ould, under previous conditions, be service­
able for additional use, yet placed, as they necessarily are
at various times, between the m odem heavy steel cars of
this Company or foreign roads, they are being constantly
damaged and are a frequent cause of wreck and distaster.
Considering this and the fact that the Com pany’s equipm ent
has been more than maintained upon a tonnage basis and
exceeds in value the total am ount of the Equipment A ccou n t,
your Board, looking to the safe as well as econom ic operation

A u g . 17 1907.]

THE CHRONICLE.

o f th e p r o p e r ty , a u th o r iz e d a special a p p r o p r ia tio n o f $
2 5 0 .0 0 0 o u t o’f th e n e t re su lts o f th e fiscal y e a r a n d th e c o n ­
d e m n a tio n o f su c h o f th is e q u ip m e n t a s th e a p p r o p r ia tio n
w ill p r o v id e fo r .
T h e sa m e h a s b e e n p la c e d in a sp e c ia l
re se rv e a n d w ill b e c re d ite d to C a p ita l A c c o u n t as th e cars
are ta k e n o u t o f se rv ic e .
C o n tr a c ts h a v e b e e n p la c e d fo r th e p u rch a se a n d d e liv e r y
d u rin g th e e a r ly p a r t o f th e n e x t fiscal y e a r o f fiv e th o u s a n d
8 0 .0 0 0 a n d 1 0 0 ,0 0 0 p o u n d s c a p a c ity b o x a n d co a l c a r s , th e
t o n n a g e o f w h ic h w ill m o re th a n e x c e e d th e to n n a g e o f th e
e q u ip m e n t to b e c o n d e m n e d .
S u b s ta n tia l p ro gre ss h a s b e e n m a d e in th e c o n s tr u c tio n
o f th e te r m in a l ra ilroad a t B u ffa lo , referred to in th e p r e v io u s
a n n u a l re p o rt as T h e L e h ig h & L a k e E rie R a ilr o a d , a n d i t is
e x p e c te d t h a t th e lin e w ill b e la id th r o u g h o u t w ith d o u b le
tra ck a n d b e in o p e r a tio n b y S e p te m b e r 3 0 .
In c o n n e c tio n
w ith th is im p r o v e m e n t , a n d in ord er t o p r o p e r ly h a n d le th e
la k e a n d in te rc h a n g e t r a ff ic , an e x p e n d itu r e o f $ 2 5 0 ,0 0 0 h a s
b e e n a u th o riz e d fo r a d d itio n a l y a r d a n d te r m in a l fa c ilitie s
a t T if ft F a r m , w h ic h w o rk is n o w u n d e r w a y .
T h e n e w d o u b le tra c k 1 ,8 0 0 - f t . ste e l gird e r b rid g e o v e r th e
S u sq u e h a n n a R iv e r , in c lu d in g th e re d u c tio n o f g r a d e s a n d
c h an g e o f a lig n m e n t fr o m W y s o x to w e st o f T o w a n d a , h a s
b e e n c o m p le te d a n d p la ce d in service a t a to t a l c o s t o f
$ 8 1 0 ,8 1 8 .
T h e c re d it b a la n c e re m a in in g in th e sp e c ia l
rese rv e fu n d ch a rg e d w ith th e c o st o f th is a n d o th e r sim ila r
w o rk h a s b e e n c re d ite d to G e n e ra l R e se rv e F u n d .
T h e c o n str u c tio n o f th ird a n d fo u r th tr a c k s fr o m E a s t
I e n n J u n c tio n to a p o in t w e st o f F re e m a n s b u r g , a d ista n c e
o f 6 .5 m ile s , is c o m p le te d , a n d a fu r th e r e x te n s io n o f th ese
tr a c k s to e a s t o f R e d in g to n , a d ista n c e o f 4 .2 m ile s , h a s b een
a u th o r iz e d a n d is n o w in p ro g re ss.
T h is w o r k , w h e n c o m ­
p le te d , w ill g iv e a c o n tin u o u s fo u r -tr a c k line fr o m G a p J u n c ­
tio n to e a s t o f R e d in g t o n , a d ista n c e o f 1 2 .7 m ile s , a n d w ill
g r e a tly fa c ilita te th e m o v e m e n t o f tr a ffic .
T h e e x p e n d itu r e
to d a te fo r th is im p r o v e m e n t a m o u n ts to $ 3 0 0 ,0 1 8 .
I n order to o v e r c o m e th e p re se n t d e la y to tr a ffic a t th e
J e rse y C ity T e r m in a l a n d p r o v id e fo r in cre ase d b u s in e s s ,
th e s u m o f $ 3 5 0 ,0 0 0 w a s a u th o riz e d for th e c o n s tr u c tio n of
th ree n e w tra n sfe r b rid g e s a n d a fre ig h t y a r d o f on e th o u s a n d
cars c a p a c ity a t th e N a tio n a l D o c k s , C o m m u n ip a w .
T h is
w o rk is n o w in p ro gre ss a n d w h en c o m p le te d w ill re lie v e th e
c o n g e stio n a t J ersey C ity a n d re d u c e th e c o st o f o p e r a tio n .
D u rin g th e y e a r 71 n e w in d u strie s w ere lo c a te d o n y o u r
C o m p a n y ’s lin e , tr a c k c o n n e c tio n s b e in g m a d e w ith 2 8 o f
th e se p la n ts .
6 5 .1 7 per c e n t o f th e to ta l o p e r a tin g e x p e n s e s o f th e R a i l­
ro a d C o m p a n y , or $ 1 4 ,4 1 2 ,0 * 5 1 1 , w as p a id d ir e c t to la b o r ,
b e in g d is tr ib u te d a m o n g 2 3 ,0 0 5 e m p lo y e e s .
B y ord e r o f th e B o a r d o f D ir e c to r s .
E . B . T H O M A S , P re sid en t.

PROFIT AND LOSS ACCOUNT FOR TH E Y E A R EN D E D JUNE 30
• • •
1907.
D r.

Balance surplus July 1 1906----------------------- _
Discount on General Consolidated Mortgage
$5,200 00
bonds so ld ______________________________
Dividends of 5 % on preferred stock paid
July 14 1906 and Jan. 12 1907, respec­
tiv e ly _____________ _______ ______________
10,630 00
Cumulative dividend paid on preferred
stock..................................... .......... .................
116,673 96
Dividend of 2 % on common stock paid
July 14 1906, and dividend of 2 % and
extra dividend of 1 % paid Jan. 12 1 9 0 7 -. 2,016,740 00
Amount transferred to Special Reserve
for Equipment to be Condemned______
1,250,000 00
Miscellaneous adjustments________________
Net Income for the year ended June 30 1907,
Table No. 2 .................... . _ ............................
Balance, surplus June 30 1907 _______ . . . 14,009,283 26

C r.

$11,380,915 31

00
00
00

54
55

82

28

77
26

T o ta l L ia b ilit ie s _____________________________ _______ ____ $ 1 5 5 ,8 7 8 ,1 9 9 2 2
N o te .— T h e d iv id e n d s d e c la r e d p r io r t o th e c lo s e o f th e fisca l y e a r , a n d
p a y a b le J u ly 13 1907, a m o u n tin g t o $ 1 ,2 1 5 ,3 5 9 , a re n o t In clu d ed as a
lia b ility In th e a b o v e s ta te m e n t.

S T A T E M E N T O F E Q U IP M E N T T R U S T O B L IG A T IO N S .

Lehigh Valley RR Co. Principal.
Outstanding—
Equipm ent Trust, Ser­
ies C, certificates___
Equipment Trust, Ser­
ies D , certificates_
_
Equipment Trust, Ser­
ies E , certificates___
Equipment Trust, Ser­
ies F , certificates_
_
Equipment Trust, Ser­
ies G , certificates___

Date o) M aturity.

J$200,000 annually t o l
$400,000 1
June 1 1909.
J 4^%
J$300,000 annually to l
900.000 1
March 1 1910.
J 4H %
j $82,000 annually to l
164.000 1 February 1 1909. J 4 K %
j$80,000 annually to l
160.000 1
May 1 1909.
f 4J4%
JS100.000 annually to\
400,000 1 August 1 1910.
J 4H %

T o t a l ......................... $2,024,000
In the Treasury—
Equipment Trust, Ser­
i $90,000 annually to l
ies H , certificates . .
540,000 1 February 1 1913. J 4 %
Equipment Trust, Ser­
j$400,000 annuallytol
ies I, certificates___ 4,000,000 \ September 1 1916. ] 4%

gold June & D ec.
gold Mch. & Sept.
gold Feb. & A ug.
gold May & N ov.
gold F eb. & Aug.

gold F eb. & A ug.
gold M ch. & S ept.

TH E LEHIGH V A L L E Y COA L C O M PA N Y.
P R O F IT A N D LOSS ACCO U N T F O R T H E Y E A R
1907.
D r.
B a la n ce su rplu s J u ly 1 1 90 6__________________
A p p r o p r ia te d fo r I m p r o v e m e n ts ____________
$ 2 5 0,00 0
4 7 ,8 3 8
M iscella n eou s a d ju s t m e n t s _________________
N e t in c o m e fo r y e a r e n d e d Ju n e 30 1907,
T a b le N o . 2 . ....................................... .................
B a la n ce , su rplu s Ju n e 30 1 9 0 7 _______________
1 ,7 8 7 ,8 6 4

E N D E D J U N E 30
C r.
$ 1 ,9 7 4 ,4 5 2 52
00
65
1 1 1 ,2 5 0 45
32

$ 2 ,0 8 5 ,7 0 2 97
$ 2 ,0 8 5 ,7 0 2 97
B a la n ce ca rrie d fo rw a r d J u ly 1 1907 __________________________$ 1 ,7 8 7 ,8 6 4 32

2,658 5§
6.024,953 33

$17,408,527 22 $17,408,527 22
Balance carried forward July 1 1907-------------------------------- $14,009,283 26
CONDENSED BALANCE SHEET JUNE 30 1907.
Dr.
•
ASSE T S.
,
Railroad—
.
.
Cost of road_____________________________
$18,639,291 95
Equipment_________________________________
35,726,422 18
General Consolidated Mortgage Bonds of
7,000,000 00
the Company held in Its Treasury---------Equipment Trust Certificates of the Com­
pany held In Its Treasury_____ ________
4,540,000 00
Treasury Stock____________________________
250 00
General Consolidated Mortgage Bonds of
the Company In hands of Trustee of Warrlour Run Stock Purchase Bonds______
100,000 00
Real E state........................................ .................
2,149,523 02
Construction Contract, Lehigh and Lake
Erie R R -..............- ..........................................
353,574 96
Mortgages Receivable.................................... _
350,200 00
Securities Owned—
Stocks of railroad and water lines inclu­
ded In Lehigh Valley system__________ $29,166,659 11
•Stocks of allied coal companies.................. 19,674,682 71
Stocks of other companies........................... 5,693,050 00
Bonds of railroad and water lines in­
cluded In Lehigh Valley system............ 4,372,926 00
Bonds of other companies----------------------- 3,305,907 87
Certificates of Indebtedness, Lehigh Val­
ley Coal Co____________________________ 10,537,000 00
-----------------------72,750,225 69
Advanced Insurance Premiums----------------119,687 18
Current Assets—
Cash on deposit and in hands of Treasurer $6,612,849 07
Cash In hands of officers and agents-------25,839 53
Cash In transit___________________________
688,171 84
Due by station agents__________________
1,033,864 20
Due by individuals and companies............ 2,493,518 74
Traffic balances due by other companies.
426,420 88
Bills receivable__________________________
306,250 85
Advances to other companies___:________
170,991 49
Material and supplies on hand_______ _
2,099,145 22
-----------------------13,857,051 82
Deferred and Suspended Assets—
Sundry accounts.._____ ________________
291,972 42
Total Assets,____ ________ . . . . . ___ _____ . . . . ------- ....$ 1 5 5 ,8 7 8 ,1 9 9 22 I




C r.
L IA B IL IT IE S .
C a p ital S to c k —
8 0 6 ,6 9 6 shares c o m m o n s t o c k , p a r $ 5 0 ..$ 4 0 ,3 3 4 ,8 0 0 00
2,126 shares p re fe rre d s t o c k , p a r $ 5 0 ...
106 ,300 00
_
-------------------------- $ 4 0 ,4 4 1 ,1 0 0
8 2 ,6 3 9 ,0 0 0
F u n d e d D e b t . . . --------------------------------------------E q u ip m e n t T ru st O b lig a t io n s -.........................
6 ,5 6 4 ,0 0 0
R e se rv e s—
R e s e r v e fo r d e p r e c ia tio n o f C o x e m in es
a n d p r o p e r tie s ----------------------------------------- $ 2 ,2 0 9 ,3 6 0 06
S p e cia l reserve fo r e q u ip m e n t t o b e c o n ­
d e m n e d _______ ______ _____________________
1 ,2 5 0 ,0 0 0 00
E q u ip m e n t a n d gen eral reserve fu n d s ___
1 ,0 9 1 ,4 8 9 48
-------------------------4 ,5 5 0 ,8 4 9
M ortg ages o n R e a l E s t a t e ..................................
196,880
In te re st an d R e n ta ls A c c r u e d , N o t D u e—
In te re st o n fu n d e d d e b t ___________________
$73 0,13 5 00
In te re st o n e q u ip m e n t t r u s t s ____________
26,775 00
A c c r u e d re n ta ls, leased lin e s ______________
4 0 6 ,9 8 5 82
-------------------------1 ,1 6 3 ,8 9 5
C u rrent L ia b ilitie s—
D iv id e n d s u n p a id
......................... ................
$1,331 00
In te re st on b o n d s d u e a n d u n c la im e d ____
60,3 4 0 50
R e n ta ls o f leased lines d u e ________________
337 ,500 00
Ju n e p a y -r o ll, sin ce p a id _________________
1 ,1 9 5 ,8 9 3 59
A u d it e d v o u c h e r s , in c lu d in g Ju n e b ills,
sin ce p a id ________________________________
2 ,3 5 0 ,1 3 7 63
D u e t o in d iv id u a ls a n d c o m p a n ie s _______
1 27 ,562 88
T r a ffic ba la n ce s d u e t o o th e r c o m p a n ie s .
1 ,0 7 7 ,9 5 4 56
U n c la im e d w a g e s _________________________
11,540 31
T a x e s a c c r u e d _____________________________
2 5 7 ,2 7 3 77
2 3 ,550 04
L e h ig h V a lle y re lie f f u n d _________________
-------------------------5 ,4 4 3 ,0 8 4
D eferred a n d S u sp e n d e d L ia b ilitie s—
T a x e s a c c r u e d , n o t d u e ___________________
$29 8,21 1 17
S u n d ry a c c o u n t s ___________________________
5 7 1 ,8 9 4 60
-------------------------8 7 0 ,1 0 5
P r o fit a n d L o s s ----------------------------------------------1 4 ,0 0 9 ,2 8 3

Total June 30 1907. $0,564,000

LEHIGH VALLEY RAILROAD COMPANY.
• • •

413

C O N D E N S E D B A L A N C E S H E E T J U N E 30 1907.
D r.
ASSETS.
P r o p e r ty an d P la n t ____________________________
T re a s u ry S t o c k ________________________________
A d v a n c e s fo r C oal M in in g R ig h t s ____________
C u rrent A sse ts—
Cash o n d e p o s it an d In h an d s o f T re a s u rtr
Cash In tr a n s it_______________________________
S to c k o f c o a l o n h a n d ----------------------------------M aterials an d su p p lie s_____________________
B ills r e c e iv a b le --------------------------------------------D u e b y In divid u a ls a n d c o m p a n ie s -------------

$1 7 ,5 6 5 ,5 2 4 79
3 50 ,000 00
5 ,4 0 8 ,5 4 2 02
$ 4 9 3,16 2 03
4 1 0 ,3 4 7 37
2 ,6 6 5 ,6 8 8 36
4 5 0 ,7 7 5 13
254,271 28
4 ,3 9 4 ,8 0 2 30
--------------------------

D e fe rre d an d S u sp e n d e d A sse ts—
P re m iu m s o n u n e x p ir e d in su ra n ce a n d
o th e r d e fe rre d a sse ts ____________________
T m s te e s o f S in k in g F u n d s—
Cash a n d b o n d s In th e h an d s o f th e T ru ste e

8 ,6 6 9 ,0 4 6 47
16,3 9 8 48
1 ,4 1 8 ,3 3 5 66

T o t a l A s s e t s - ............... ....................... ................................................$ 3 3 ,4 2 7 ,8 4 7 42
C r.
L IA B IL IT IE S .
C a p ital S t o c k ___ ______________ _________________ $ 1 ,9 6 5 ,0 0 0 00
F u n d e d D e b t ............. ....................... .......................... 1 2 ,9 5 7 ,5 0 0 00
C ertificates o f I n d e b te d n e s s ___________________ 1 0 ,5 3 7 ,0 0 0 00
C u rren t L ia b ilities—
A u d ite d v o u c h e r s ----------------------------------------- $ 3 ,0 1 0 ,0 5 6
W a g e s d u e an d u n p a id _____________________
4 3 1 ,1 2 0
■ S u n d r y a c c o u n ts p a y a b le ___________________
314 ,8 4 3
R o y a lt ie s o n c o a l m in e d a n d d u e l e s s o r s ..
45,651
B o n d Interest d u e and p a y a b le ____________
6,600
C_ T a x e s d u e an d p a y a b le ______________________
4,331
D e fe rre d an d S u sp e n d e d L ia b ilitie s—
R o y a lt ie s r e c e iv e d fr o m lessees, n o t a c
c r u e d _______________________________________
In te re st o n fu n d e d d e b t , a c c r u e d __________
T a x e s a c c r u e d ----------------------------------------------D eferred real esta te p a y m e n t s ____________
M isce lla n e o u s_____________ __________________
R eserve A cco u n ts—
S in k in g fu n d s an d o th e r reserves
P r o fit an d L o s s _____________________

$ 2 5 ,4 5 9 ,5 0 0 00
42
95
62
26
00
00
3 ,8 1 2 ,6 0 3 25

$15 3 ,9 6 7
31 6 ,9 3 7
5 1 ,0 4 0
5 6 ,0 0 0
2,360

17
50
18
00
30
58 0 ,3 0 5 15
1 ,7 8 7 ,5 7 4 70
1 ,7 8 7 ,8 6 4 32

T o ta l L i a b i l it i e s -. ----------------------------------------------------------------$ 3 3 ,4 2 7 ,8 4 7 42

414

THE CHRONICLE.

[V o l .

lxxxv

.

BU FFALO ROCHESTER & PITTSBU RGH R A IL W A Y COMPANY.
TW E N T Y -S E C O N D A N N U A L R E P O R T — F O R Y E A R EN D IN G JUNE 30 1907.
The Directors of the Buffalo Rochester & Pittsburgh
Railw ay Com pany subm it to the Stockholders the follow ing
report for the year ending June 30 1907:
RO A D O P E R A T E D .
______
___
- _

190 7.
M ile s .
347 .8 6
94 .0 0
126 .66

190 6.
M il e s .
3 47 .86
94 .0 4
125 .87

T o t a l le n g th o f r o a d o p e r a te d
S e c o n d tr a c k ( o w n e d ) ____ S e c o n d tr a c k (tra ck a g e rig h ts) S id in gs (o w n e d an d le a s e d ) ____

568 .5 2
91 .8 9
81 .8 3
272 .6 5

5 6 7 .7 7
86.2 0
81 .6 3
2 56 .57

16.08

T o t a l m iles o f a ll t r a c k s , all
steel ra il____
________ .1 ,0 1 4 .6 9

992 .1 7

22 .5 2

O w n e d ___ _______
_
L e a s e d ___ __________
T r a c k a g e rig h ts
. -

In c r ea se . D ec r e a s e .
M ile s .
M il e s .
.79

.04
--

.75
5.69
--

The increase o f mileage o f road is due to the operation of
.79 mile o f additional trackage rights from Vintondale,
P a ., to Shuman Run “ Y ,” taken into the accounts of the
Com pany on May 11 1907, less an adjustm ent of .04 mile in
leased lines.
The tracks were increased b y 5.69 miles o f second track
built at different points between A shford, N. Y ., and
Punxsutawney, P a ., and 16.08 miles of new sidings.
INCOM E.
190 7.
1906.
In crea se.
G ross ea rn in g s _______ $ 8 ,6 6 6 ,5 8 0 46 $ 7 ,8 2 9 ,4 5 1 79 $83 7,12 8 67
O p e r a tin g e x p e n s e s .- 5 ,1 4 2 ,3 4 2 80 4 ,5 5 9 ,1 1 2 87
5 8 3 ,2 2 9 93

D ec r e a s e .
__________
__________

I n c o m e ____________ $ 3 ,5 2 4 ,2 3 7 66 $ 3 ,2 7 0 ,3 3 8 92 $ 2 5 3,89 8 74
A p p lie d t o p a y m e n ts
o f In terest, ren ta ls,
t a x e s , p en sion fu n d
a n d sin k in g f u n d s . . 1 ,9 8 5 ,0 3 3 65
1 ,7 5 9 ,6 9 4 75 2 2 5 ,3 3 8 90
N e t in c o m e ________ $ 1 ,5 3 9 ,2 0 4 01 $ 1 ,5 1 0 ,6 4 4 17
D ed u ct—
E x tr a o r d in a r y e xp en se s
an d I m p r o v e m e n ts - $ 1 0 3,96 5 21
S p ecia l a p p r o p r ia t e s
2 0 4 ,7 8 2 61
T o t a l _______________

$ 3 0 8,74 7 82

$93 ,2 5 3 02
3 0 0 ,8 8 8 62
$394,141 64

$ 2 8 ,5 5 9 ,8 4

$ 1 0 ,7 1 2 19
__________
____________ $96 ,1 0 6 01
____________ $ 85 ,3 9 3 82

S u rp lu s o f i n c o m e - - - $ 1 ,2 3 0 ,4 5 6 19 $ 1 ,1 1 6 ,5 0 2 53 $11 3 ,9 5 3 66

The increase in the am ount “ Applied to paym ents of
interest, e t c .,” is due to the follow ing items: $80,100 81 ac­
crued interest on notes sold during the year; $82,331 65 inter­
est and sinking fund requirements o f the equipm ent bonds
issued and $62,906 44 for additional taxes and rentals.
The item “ Special appropriations” represents the principal
of the car trust bonds paid during the year, am ounting to
$39,000, and $165,782 61 o f the construction expenditures
on the lines owned b y your Com pany.

DIVIDENDS.
D iv id e n d s in cash w ere p a id o n :
P re fe rre d s t o c k ___________ $ 6 ,0 0 0 ,0 0 0
C o m m o n s t o c k ____________ 1 0 ,5 0 0 ,0 0 0

1907.
6 % $ 3 6 0,00 0
6%
630 ,000

190 6.
6 % $ 3 6 0,00 0
6 % 6 30 ,000

T o t a l - ________ __________ $ 1 6 ,5 0 0 ,0 0 0

$ 9 9 0,00 0

$ 9 9 0,00 0

There was distributed to stockholders on D ecem ber 27 1906
41,250 shares of $100 each o f the Mahoning Investm ent Com ­
pany, received in paym ent for 39,995 shares of $100 each of
the Rochester & Pittsburgh Coal & Iron Com pany stock
appearing in form er reports as an investm ent valued at
$1,003,670 50.
Since the close of the fiscal year, your Board of Directors
has declared a semi-annual dividend of three per cent on the
preferred stock and tw o and one-half per cent on the com m on
stock, both payable August 15 1907.
C A P IT A L STOCK.
There has been no change during the year in this account.
The total outstanding Capital Stock o f the Com pany amounts
to $16,500,000, and consists o f $6,000,000 preferred stock
and of $10,500,000 com m on stock.
BONDED D EBT.
During the year car-trust bonds am ounting to $39,000
were paid and canceled.
Under the terms of the sinking funds for the redemption
of equipm ent bonds, $113,000 of Series D and $64,000 o f
Series E were redeemed and canceled.
Equipm ent bonds, Series E , authorized in 1904, were
issued to the am ount of $550,000.
To provide for additional rolling stock, an issue of $3,000,000 four and one-half per cent twenty-year gold bonds was
authorized, to be secured b y new equipm ent costing $3,300,000. These bonds are being issued under an agreement
known as “ Equipm ent Agreem ent, Series F ,” dated April 1
1907.
This agreement provides for a sinking fund equal to six
per cent per annum o f the bonds issued, to be paid to the
trustee on the first day of August in each year, beginning
with August 1 1908, for the purchase of bonds of this series,
if the same can be obtained in the open market at par and
accrued interest, or less; otherwise the trustee shall draw by
lot sufficient bonds approxim ately to absorb , at the price of
par and accrued interest the am ount of cash held b y the
trustee to the credit of the sinking fund; all the bonds so
acqu ired to be canceled.




The whole or any part of the issue m ay be redeemed at
any half-yearly interest date, on six weeks’ notice, at 102
per cent and accrued interest.
During the year equipm ent bonds of this series were
issued to the am ount of $1,700,000.
The net result is an increase of $2,034,000 in the bonded
debt of the Com pany outstanding June 30 1907.
A new Consolidated Mortgage covering all your property
was created on May 1 1907 to secure thirty-five million
dollars ($35,000,000) fifty-year Consolidated Mortgage
bonds, bearing interest at not over four and one-half per
cent per annum, to provide for the consolidation of the debt
of your Com pany, for extensions, double-tracking, im prove­
m ents, betterments, equipm ent, etc.
The Mortgage provides that the bonds shall be applied
to the follow ing purposes:
$3,000,000 f o r Im m e d ia te d e liv e ry t o th e C o m p a n y fo r p re se n t c o r p o r a te
uses;

18,145,000 fo r t h e r e tir e m e n t o f u n d e rly in g o b lig a tio n s a t o r b e fo r e m a ­
t u r ity ;

13 ,855,000 fo r th e fu tu re w a n ts o f th e C o m p a n y , t o b e Issued a fte r J u ly 1
1908 at n o t e x c e e d in g $1,500,000 p e r a n n u m , unless an Issue
o f a larg er a m o u n t sh all b e a u th o r iz e d b y a v o t e o f th e h olders
o f a m a jo r it y o f th e s t o c k o f th e C o m p a n y .

$35,000,000 T o t a l.

LOANS.
Pending the creation of the new Consolidated Mortgage,
the Com pany issued August 1 1906 its coupon Construction
and Im provem ent Notes to the am ount of $1,500,000, pay­
able August 1 1909, bearing interest at the rate of 4)^ per
cent per annum, payable semi-annually on the first day of
February and August in each year.
On March 11 1907 the Com pany issued additional notes
to the am ount of $1,000,000, payable March 11 1908, bearing
interest at the rate of 6 per cent per annum, payable semi­
annually on the eleventh day o f September and March.
CO N STRU CTION .
There was expended this year for additions and better­
ments to your property $865,860 82, of which $165,782 61
was charged against the net incom e of the fiscal year, and
the balance, $700,078 21, representing principally the pay­
ments for second-track, new mine lines, additional shop
facilities, new car ferry dock and general office building,
was transferred to capital account. The item s are as follows:
L a n d ........................................................................... ........................................... $28,071
Car ferry d o c k s , C h a rlo tte , N . Y ___________________________________
51,797
Y a r d a n d b u ild in g s, sh op s a n d m a c h in e r y ________________________ 125,595
B ig R u n m in e lin e ________________ _________________ _______________
15,771
W h is k e y R u n m in e lin e _____________________________________________
43,259
Y e llo w Creek m in e lin e _____________________________________________
49,590
S e c o n d t r a c k , A s h fo r d , N . Y . , t o P u n x s u ta w n e y , P a ...................... 262,793
G eneral o ffic e b u ild in g , R o c h e s t e r , N . Y __________________________ 116,233
S u n d r y lt e m s ___________________ _______ ______________ _______________
6,966
N e w fre ig h t s t a tio n , R o c h e s t e r , N . Y ________________ $22,762 61
T o o ls , fu rn itu re , e t c ____________________________________ 72,338 88
S id in gs an d y a rd e x te n s io n s ___________________________ 59,775*27
O th e r lt e m s ....................................... ..................... ..................... .. 10,905 85

5
0
05
24
16
19
58
08
95

$700,078 21

-------- ------- 165,782 61
T o t a l ................................................................................................. ................ $865,860 82

The length of second track put in operation during the
year was 5.69 miles.
Three im portant mine-line spurs were built, and the track
facilities im proved at various points.
The general office building in Rochester, N. Y ., referred
to in last year’s report, is now entirely com pleted and paid for.
P R O P R IE T A R Y R O A D S.
On April 13 1907 the Johnsonburg & Bradford Railroad
Com pany conveyed to your Com pany all its railroad and
property. Through this sale the securities o f the Johnson­
burg & Bradford Railroad Com pany were surrendered, and
proceedings are now in progress for the dissolution of the
corporation.
E Q U IPM E N T.
Expenditures were made for new rolling stock as follow s
T h ir t y lo c o m o t iv e s ------------------- -------------------------------- $532,558 85
T e n h u n d red an d t w e n ty -s ix fre ig h t c a r s ............... 1,246,297 71
T w e n t y -t w o C o m p a n y ’ s s e r v ic e c a r s ------------------30,109 69
S u n d ry b e tte r m e n ts , air b ra k e s, e t c ., in clu d in g
tra n sfer o f o n e freig h t c a r . . ..................................... 223,068 34

-------------------- $2,032.034 59

Of the above equipm ent, six freight cars and
six Com pany’s service cars were built at the Com­
pany’s shops.
The account was credited for equipm ent sold,
transferred or destroyed, w ith the follow ing items
charged to operating expenses:
S e ve n l o c o m o t i v e s .............................................................
O ne h u n d red and n in e ty -e ig h t freig h t c a r s ----------T w e n t y -o n e C o m p a n y ’s s e r v ic e c a r s ______________
S u n d r y o th e r a m o u n t s ,....................................................
T h e a c c o u n t w as fu r th e r c r e d it e d fo r ca r -tr u s t
b o n d s p a id o ff d u r in g th e y e a r an d ch a r g e d
t o n e t I n c o m e .....................................................................
F o r b o n d s re tire d d u r in g th e y e a r b y th e sin kin g
fu n d s o f eq u ip m e n t a g re e m e n ts . Series D and E
A ls o w ith th e a m o u n t o f th e s in k in g fu n d s u n d e r
e q u ip m e n t a g r e e m e n ts S crie s A , B an d C, In
v e s t e d In th e p u r c h a s e o f n e w r o llin g s t o c k . . -

*71,626
102,094
4,610
110

11
45
03
16
....................

39,000 00
177,000 00
134,134 69
--------------------

528,575 44

M ak in g a n e t in crea se o f — ___________________________________ $1,503,459 15

A

ug

. 17 1907. j

THE CHRONICLE.

All cars are now provided w ith autom atic couplers. Air
brakes have been applied to 93.07 per cent o f the freight cars,
an increase o f 13.33 per cent since last year.
W hen rolling stock is destroyed or sold, operating ex­
penses are charged and equipm ent account is credited; when
purchased or rebuilt, the cost is charged to equipm ent
account.
PA S SE N G E R E A R N IN G S .
The average rate received per passenger per mile decreased
1.08 mills, being 1.931 cents, as com pared with 2.039 cents
a year ago.
To m eet the action of our com petitors, a reduction in fare
of one-half cent per mile over the entire system was made
on N ovem ber 1 1906.
The average distance each passenger was carried decreased
2 miles, being 33 miles, against 35 miles last year.
P a ssen gers c a rrie d 1 9 0 7 _______________________________________1 ,5 9 7 ,6 5 1
P a ssen gers c a rried 19 0 6 _______________________________________1 ,4 4 0 ,9 2 8
A n in crea se o f 10.88 p e r c e n t , o r ___ ______ __________ _______________ 156 ,723

The result is a loss of $10,644 74 in gross passenger
earnings.
F R E IG H T E A R N IN G S .
The average rate received per ton per mile decreased
.10 o f a m ill, being 4.98 mills, as com pared with 5.08 mills
last year.
The average distance each ton was hauled decreased 2.50
miles, being 145.74 miles, against 148.24 miles a year ago.
Although the lon g strike o f the coal miners, referred to in
last year’s report, ended July 23 1906, it affected unfavor­
ably both the tonnage and operation of your road for several
m onths afterward. Notwithstanding this, the revenue
tonnage m oved was the largest in the history o f the Com­
pany, show ing an increase o f 1,171,421 tons, or 13.98 per
cent, as follows:
190 7.
1906.
In c r ea se . D ee r e 's
B itu m in o u s c o a l - .............................. _ 6 ,184 ,1 5 9
5 ,2 0 4 ,4 3 7
979 ,7 2 2 ..............
C o k e ......................................................... 620 ,154 706 ,8 6 7
____________
8 6 ,7 1 3
I r o n o r e ............... ................ ................... 4 5 8 ,5 6 1 310 ,5 0 5
1 4 8 ,0 5 6 ____________
P ig an d b lo o m Iro n ...................... 171 ,9 7 6
180 ,4 0 4
____________
8 ,4 2 8
O th er fr e ig h t _______ _______ ______ 2 ,1 1 3 ,9 4 6 1 ,9 7 5 ,1 6 2
1 3 8 ,7 8 4 __________
T o t a l ....................................................9 ,5 4 8 ,7 9 6

8 ,3 7 7 ,3 7 5

1 ,1 7 1 ,4 2 1

415

The non-revenue traffic, n ot included in any of the other
figures of this report, is as follows:
N um ber
N um ber
N um ber
N um ber

of
of
of
of

p a sse n g e rs________________________________________________
196 ,891
passen gers ca rrie d o n e m ile __________________________8 ,7 9 5 ,1 2 6
t o n s _______________________________________________________
8 2 2 ,1 4 2
ton s ca rrie d o n e m ile ____________________________________ 7 1 ,9 4 8 ,6 1 8

IN D IA N A BR AN C H .
On May 11 1907 a supplemental agreement was entered
into with the Pennsylvania Railroad Company for additional
trackage rights, from Vintondale, Pa., to Shuman Run “ Y ,”
a distance o f about .79 o f a mile.
The blast furnace of the Josephine Furnace & Coke Com­
pany at Josephine, Pa., referred to in last year’s report, was
completed and put in operation on January 14 1907. A r­
rangements have been com pleted b y them for the immediate
construction of a second blast furnace at this point.
R O C H E STE R & P IT T S B U R G H COAL & IR O N CO.
A t your annual meeting held on November 19th last,
your Directors were authorized to sell the 39,995 shares of the
Rochester & Pittsburgh Coal & Iron Com pany’s stock owned
b y your Com pany.
Pursuant to this authority, your Directors sold and trans­
ferred, on Decem ber 13 1906, these 39,995 shares to the
Mahoning Investm ent Com pany, a corporation of the State
of Maine, with a capital of $4,200,000, divided into 42,000
shares of $100 each. Through this sale your Com pany has
transferred to the Mahoning Investm ent Company all its
right, title and interest in and to the 39,995 shares of the
stock of the Rochester & Pittsburgh Coal & Iron Com pany,
and also any and all rights to dividends hereafter accruing
thereon, as well as the voting power, subject, however, to
the trust agreement of April 21 1890 and to the mortgage
dated September 1 1887.
Y our Company received from the Mahoning Investm ent
Company its full-paid capital stock to the amount, at par, of
$4,125,000, being the consideration for said sale, and dis­
tributed the same on December 27 1906 am ong the holders
of the preferred and common stock of your Com pany, in the
proportion of 25% to the respective holdings of each stock­
holder of record on December 20 1906.

The average number of revenue passengers carried one
mile per revenue passenger train mile is 44, being the same
as last. year.

F IR E IN SU R A N C E FU N D.
The assets in this fund were increased $12,944 46 during
the year, and now am ount to $138,976 18 in interest-bearing
securities and cash.
PEN SION FU N D .
The assets in this fund, created July 1 1903, were increased
$21,251 76 during the year, and now am ount to $91,633 65
in interest-bearing securities and cash.
There were twenty-five pensioners upon the roll on June
30 1907.
G E N E R A L R E M A R K S.
On May 1 1907 an agreement was made with the Erie
Railroad Com pany, granting to them for a period of ten
years from June 20 1907 (with the privilege o f two successive
renewals of ten years each), trackage rights over your line
from Clarion Junction, Pa., to Big Run, Pa., a distance of
about 50.67 miles. This contract carries the option to secure
further trackage rights at any time during the continuance
of the agreement.
The boat under construction for the Ontario Car Ferry
Com pany, referred to in last year’s report, is to be delivered
about October 1st next, and the line will then be opened
for traffic.
The am ount paid b y your Com pany, $150,543 78, repre­
senting one-half of the expenditures to date, has been
charged to “ Investm ent A ccou n t.”
The acknowledgments of the Board are renewed to the
officers and employees for their faithful and efficient services.
Statements and statistics of the operation of your road
for the year are subm itted herewith.
B y order o f the Board.
A R T H U R G. Y A T E S ,
President.
New Y ork , Aug. 1 1907.

Uncle Sam Oil Co.— Receiver's Report.— The report of
Receiver J. C. O. Morse, made public July 10, says in sub­
stance:

F is c a l
N et
I n t. o n
D ep re - S in k in g
D iv id en d s
B a la n ce,
Y ea r.
earn in gs,
bonds.
cia tio n . ' fu n d .
on p referred .
su rp lu s.
1 9 0 6 -0 7 _____ $ 7 2 1,98 7 $ 1 3 2,33 8 $13 6 ,0 9 5 $ 75 ,000 ( 6 % )$ 2 2 5 ,0 0 0 $1 5 3 ,5 5 4
1 9 0 5 -0 6 ______ 6 6 2 ,8 2 7 130 ,721
108 ,7 1 0 7 5 ,0 0 0 ( 5 % ) 1 87 ,500
160 ,8 9 5

T h e p o o r s y s te m o f b o o k k e e p in g u sed m a k e s lt d iffic u lt t o o b ta in an a c tu a l
s ta te m e n t o f th e c o m p a n y ’ s c o n d it io n , a n d $ 7 4 ,1 3 0 Is s till u n a c c o u n te d fo r .
A lt h o u g h th e b o o k s o f th e c o m p a n y sh o w th a t lt w as o p e r a t e d a t a loss,
y e t jo n Ju n e 20 1906 a d iv id e n d o f 2 m ills u p o n e a c h share o f s t o c k so ld w as
d e c la r e d a n d ch eck s p a y a b le in 60 d a y s w e re issu e d .
A larg e n u m b e r o f
th ese c h e c k s w ere re tu rn e d b y th e p a y e e , a n d s t o c k In th e c o m p a n y w as
a c c e p t e d In s te a d .
O n D e c . 20 1906 a d iv id e n d o f 3 m ills w as d e c la r e d ,
b u t n on e o f t h e c h e c k s w as e v e r p a i d . T h e c a p it a l s t o c k w as so ld b y m ean s
o f a d v e r t is in g an d $24 5 ,1 5 0 w as s p e n t in th is w a y . T h e p o s ta g e alon e
a m o u n te d t o J 18,364
P r io r t o A p ril 2 3 , w h en th e re c e iv e r t o o k c h a r g e ,
t h e f c o m p a n y h ad r e c e iv e d a n d e x p e n d e d 5 1 ,2 3 6 ,3 9 5 , as f o llo w s : F ro m
sale o f s t o c k , $ 1 ,0 2 0 ,0 0 0 ; fro m sale o f b o n d s , $ 6 0 ,9 4 9 ; fro m sale o f o il,
$ 9 5 ,4 8 3 ; b o r r o w e d fro m b a n k s , $ 1 2 ,0 9 3 ; cash c r e d ite d t o T u c k e r , $ 5 ,8 7 1 ;
gen eral I n d eb ted n e ss fo r m a c h in e r y , & c ., $ 4 1 ,9 9 9 .
C o m p a re V . 8 4 , p . 1186

The dividends as above include those paid during the fiscal
years. Compare report for 1905-06, V. 83, p. 378.— V . 84,
p. 1433.
United States Steel Corporation.— End of Strike.— The
strike in tlje Mesaba iron mining district is practically over,
nearly all the men having returned to work.
Rumors of Acquisition.— The report that the com pany has
an option on the property of the Midland Steel Co. (V. 83,
p. 41) and will take possession on com pletion of an inventory
has shown considerable persistency in spite of denials.—
V. 85, p. 350, 289.
United States Steel Corporation.— Contract Secured by
Subsidiary.— See Milliken Bros, ab ove.— V. 85, p. 350,
289, 277.
U tah-Idaho Sugar Co., Salt Lake City, U tah.— Consolidat­
ion .— This com pany was organized on July 19 under the
laws o f Utah with $13,000,000 authorized capital stock in
shares o f $10 each (of which $10,000,000 is 7 % cum uative
preferred), as a consolidation on the following basis:

The principal com m odities showing losses are coke, iron,
steel, salt and lumber.
The result for the year is a gain o f $779,233 58 in gross
freight earnings.
E X P E N SE S .
The operating ratio increased 1.11 per cent, being 59.34
per cent, against 58.23 per cent last year.
The percentage of each group of operating expenses to
gross earnings for the past five years is as follows:
1907.
M a in te n a n c e o f w a y ______________________ 8 .9 5
M a in te n a n ce o f e q u ip m e n t ______________14.77
C o n d u c tin g t r a n s p o r t a t io n ______________3 3 .2 6
G en eral e x p e n s e s ........................................... 2 .3 6
T o t a l ............. .................................... ......... . . . 5 9 . 3 4

190 6.
8 .7 3
14.04
33.2 9
2.1 7
5 8 .2 “

190 5.
8 .2 9
16.11
35.51
2.0 8
6199

190 4.
7 .8 3
15.07
33.4 2
2.2 3
5 8 .5 5

1903.
7.30
13.5 5
32.93
2.09
5 5 .8 7

The average cost per ton per mile is 2.98 mills, being .06
o f a m ill more than last year.
The average num ber of revenue tons carried one mile per
revenue freight train mile, excluding the mileage o f helping
engines, increased 17.88 tons, being 542.59 tons, against
524.71 tons a year ago.
The average number of revenue tons carried one mile per
revenue freight engine mile, including the mileage of helping
engines, increased 17 tons, being 435, against 418 a year ago.
The averages for the past ten years show an almost unbroken
progression in the tonnage m oved one mile per train mile and
per engine m ile, as follows:
1 ear.
1 8 9 8 _________
IS 99
..........
1 9 0 0 ____ __
1901
1 9 0 2 ...

... .

T ra in
L oa d .
_________ 387
_________ 407
_________ 419
_________ 406

E n g in e
L oa d .
326
344
354
345
353

1 ear.
1 9 0 3_________
1 9 0 4 _________
1 9 0 5 ____ . . .
1 9 0 6 _________
1 9 0 7 _________

T ra in
Loa d.
_________ 441
_________ 439
_________ 507
_________ 525
________ 543

E n g in e
Load.
364
357
374
418
435

United Electric Co. of New Jersey.— Suit.— A bill was filed
in the Chancery Court at Newark 011 Aug. 9 b y three m inority
stockholders, holding, it is stated, 61 shares, to set aside
the lease to Public Service Corporation recently entered
into. The lease was approved by 196,731 out of 200,000
shares, the Public Service Corporation owning about 9 8 %
of the stock. Compare V. 85, p. 288, 44.
United States Envelope Co.— Report.— For the year end ng
June 30:




416

THE CHRONICLE.
----------Old
S tock
C om m on . P r eferred .
$
$

U ta h Su g ar C o. (V .
80, p . 1 0 6 2 )_______ 3 ,0 0 0 ,0 0 0
I d a h o S ugar C o ______3 ,5 0 1 ,8 7 0
W e s t 'n I d a . S u g . C o .1 ,0 0 0 ,0 0 0

lxxxv

.

— E xch a n ged resp ectively fo r—
C om m on .
P referred .
%
$
%
$

3 ,0 0 0 ,0 0 0
100 3 ,0 0 0 ,0 0 0
N one.
______ __________
N one.

100 3 ,0 0 0 ,0 0 0
110 3 ,8 5 2 ,0 5 7
125 1 ,2 5 0 ,0 0 0

8 ,1 0 2 ,0 5 7
T o ta l s to c k issu ed b y n e w c o m p a n y ___________ 3 ,0 0 0 ,0 0 0
N o te .— T h e n ew p re fe rre d Is a 7 % c u m u la tiv e a n d p a r t ic ip a t in g s t o c k ,
e n title d t o d iv id e n d s p a y a b le q u a rte r ly a n d w ith p r e fe re n ce as t o assets in
ca se o f liq u id a tio n . T h e c o m m o n is e n title d t o 7 % c u m u la tiv e a ft e r c u m u ­
la tiv e d iv id e n d s on p re fe rre d are p a id .
A n y p ro fits a ft e r th ese are d iv id e d
e q u a lly , share a n d share a lik e , b e tw e e n p re fe rr e d a n d c o m m o n .

The bonded debt, secured b y mortgage on the property
of the old Utah Sugar C o., is as follows:
U ta h Su g ar C o. 1st M . b o n d s (series “ A ” ) , d a te d A u g . 15 1895,
or ig in a lly $ 4 0 0 ,0 0 0 , o f w h ic h $ 1 9 6 ,0 0 0 r e tir e d , th e te r m s o f th ese
b o n d s p e r m it t in g th e p a y m e n t o f $ 1 0 ,0 0 0 p e r a n n u m .
In te re st
6 % p e r a n n u m , p a y a b le F e b . 1 a n d A u g . 1 a t th e o ffic e o f T ru s ­
te e S e c u r ity C o ., H a r tfo r d , C o n n .
D e n o m in a tio n , $ 1 ,0 0 0 .
A m o u n t o u t s t a n d in g _________________________________________________ $20 4 ,0 0 0
U ta h Su g ar C o. m tg e . b o n d s (series “ B ” ) , d a t e d A p ril 1 1907.
D e n o m in a tio n $ 1 ,0 0 0 , $500 a n d $10 0. T r u s te e , Z io n s S av in gs
B a n k & T ru s t C o ., Salt L a k e C it y , U ta h .
In te re s t p a y a b le
A p ril 1 a n d O c t . 1 at o ffic e o f tr u s te e .
A u th o riz e d Issue $ 1 ,0 0 0 ,000 ; $ 1 7 4 ,0 0 0 reserved fo r co n tin g e n c ie s o f th e b e e t su gar b u s i­
n ess. A m o u n t o u t s t a n d in g ________________________________________ $ 8 2 6 ,0 0 0

An official statement follows:
T h e c o m p a n y ow n s th e en tire p r o p e r t y o f th e U ta h S u g a r C o ., th e I d a h o
S u g ar C o. a n d th e W e ste rn Id a h o Sugar C o ., c o n s istin g o f six large b e e tsu ga r f a c to r ie s ,w ith a c a p a c it y o f 4 ,7 0 0 to n s o f b eets p er d a y d u rin g th e
s e a son , fo u r a u x ilia ry c u ttin g sta tio n s, on e e le ctr ic w a te r-p o w e r p la n t w ith
4 ,0 0 0 h o rs e -p o w e r e le ctr ic e n e rg y , 42
m iles o f tra n sm ission lin e ; th e B ea r
R iv e r ca n a l s y s te m , on e o f th e m o st m o d e rn Irrigation sy ste m s in th e W e st
w ith 125 m iles o f can als a n d la tera ls, Irrig a tin g 5 0 ,0 0 0 acres o f la n d .
It
o w n s In all co m p a n ie s a b o u t 3 5 ,0 0 0 acres o f la n d .
T h e o ffic e r s are: P resi­
d e n t, J o s . F . S m ith ; S e creta ry a n d T rea su rer, H . G . W h itn e y ; V ic e -P r e s i­
d e n t a n d G eneral M a n a g er, T h o m a s R . C u tler.

The other directors, it is understood, are or will be:
J o h n R . W in d e r , H e b e r J . G ra n t, J o h n C. C u tler, W . S. M c C o rm ick , J oh n
H e n r y S m ith , C. W . N ib le y a n d G eorge R o m n e y .

Utah Independent Telephone Co.— Option.— See United
States Independent Telephone Co. above.
New Officers, & c.— Heber J. Grant has been elected Presi­
dent and M. S. W alker Vice-President. An increase in the
capital stock from $1,000,000 to $1,300,000 is said to have
been decided upon. Managing D irector Elmer B. Jones is
quoted as saying:
A ll th e m o n e y n ecessa ry t o insure th e su ccess
s crib e d ; 80 % o f it w as raised in Salt L a k e C ity
Logan and P ro v o .
T h e t o ta l a m o u n t in v o lv e d
$ 1 ,5 0 0 ,0 0 0
T h e o ld s to c k w ill p a r ticip a te on a
— V . 8 3 , p . 1175.

o f th e p r o je c t has been su b ­
a n d th e b a la n ce In O g d en ,
is b e tw e e n $ 1 ,0 0 0 ,0 0 0 an d
basis n o t t o be d e te rm in e d .

Utica (N. Y .) Home Telephone C o.— See United States
Independent Telephone Co. above.— V. 84, p. 1556.
W aterbury & Co.— Earnings.— The results for the six
months ending June 30 1906 were:
Gross earnings, $1,308,304; cost of raw material, operating
expenses, taxes, &c., $1,084,368; manufacturing profit,
$223,936; general expenses and depreciation, $100,035; net
earnings, $123,901; written off for' depreciation, $30,000;
dividends paid, $63,540; balance, surplus, $30,361.— V.
84, p. 577.
W estern Union Telegraph Co.— Extension of Strike.— The
strike, which began in a small way last week because o f the
discharge of a union operator in Los Angeles, was extended
on Monday and Tuesday to include New Y ork, Chicago, Phila­
delphia, New Orleans, Cleveland, W ashington, St. Louis,
Pittsburgh, Harrisburg, and numerous other cities. The
operators of the Postal-Telegraph Cable Co. also quit work in
m any places. The strike having been brought, the leaders
concluded to demand an 8-hour day, also a 15% increase in
wages, although an increase of 10% was granted March 1
1907. While somewhat crippled, the companies claim to
have the situation well in hand.— V. 85, p. 350, 289.
Y ork Gas Co.— New Stock.— The stockholders have au­
thorized an increase in the capital stock from $600,000 to
$1,000,000, to provide for extensions.— V. 73, p. 240.
Y ork Manufacturing Co., Saco, M e.— Proposed Enlarge­
ment.— This com pany, incorporated in Maine in 1831, its
capital stock being now $900,000 in shares of $750 each (on
which semi-annual dividends at the rate of 6 % per annum
have been paid,in June and Decem ber) has called a meeting
o f its shareholders for Aug. 22 to vote on a plan for reincorpora­
tion under the laws of Maine as the Saco Mfg. Co., with
$1,800,000 stock in shares of $100 each, of which $ 1,200,000
will be exchanged for the present stock of record Sept. 3,
and the remaining $600,000 will be sold to shareholders of
the York Mfg. Co. of record Sept. 1 at par.
— D. M. Donehue and A . P. Cooley of Pittsburgh have
prepared a booklet on “ Oil and Gas Securities for Invest­
m en t,” containing a description of a number of gas and oil
properties, with some illustrations. The compilers state
that the data has been collected with much care. •
— Speyer & Co., 37 Wall St., New Y ork, will redeem the
Japanese 6 per cent bonds, called for paym ent on Sept. 10,
at par and accrued interest at 103, in exchange for approved
bonds yielding 5 to 6 y% per cent incom e. This is more than
the holders will receive if they hold the bonds to m aturity.
— Samuel W elsh, a member of the New Y ork and Phila­
delphia banking firm of Ervin & C o., died on the 9th inst.
at W atch Hill, R . I ., his death resulting from an attack of
apoplexy. Mr. Welsh was forty-three years of age.
— Stone & W ebster Engineering Corporation, constructing
engineers, announce that on August 19 they will occupy
their own building at 174 Milk St., Boston, corner of Batterymarch St.




[V o l .

COMMERCIAL EPITOME.
Friday Night, August 16th, 1907.
While there has been some further decline in iron and
copper as well as other metals, reflecting a lessened dem and,
general trade makes no bad showing for this time of the year.
The financial depression, however, and the failure of a large
industrial concern during the week suggest caution against
too great optim ism .
L A R D on the spot has ruled steady. Trading has been
dull and limited largely to local jobbers. City 8 ^ c . and
Western 9 @ 9 .0 5 c. Refined lard has been steady but trade
has been extremely quiet.
Refined Continent 9.60c., South
America 10.10c. and Brazil in kegs 11.55c. The speculation
in lard futures at the W est has been rather quiet, owing large­
ly to the telegraph strike, which has curtailed outside busi­
ness. The lack of statistical news has also tended to restrict
trading. Prices have m oved within a narrow range, with the
tone easier in the main, owing to the depression in the wheat
a d stock markets and the dulness o f the spot trade.
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN CHICAG O.
S a t.
M on.
T u es.
W ed .
T h u rs.
F r i.
S e p te m b e r d e liv e r y ______9.1 0
9 .0 0
9 .0 0
9 .0 0
8.92>£
8 .9 0
9 .1 0
9 .1 0
9 .1 0
9.02J4
9 .0 0
O cto b e r d e liv e r y ________ 9 . 1 7 ^
J a n u a ry d e liv e r y ________ 8 .5 0
8.47J^
8.47>^
8 .4 5
8.42 ^
8.42J^

P O R K on the spot has shown no changes of im portance.
Trade has continued dull. Mess $17 7 5 @ $ 18 50, clear
$16 50@ $17 75 and fam ily $19. Beef has been dull with
some grades higher, owing to the smallness of supplies.
Mess $10@ $10 50, packet $11@ $11 50, flank $10 50 @ $ 11 ,
fam ily $13@ $13 75 and extra India mess $21@ $ 22. Cut
meats have ruled steady with f i e demand confined to jobbers.
Pickled shoulders 8 j^ @ 9 c ., pickled hams 123^c. and pickled
bellies, 14 @ 1 0 lbs., l l @ 1 2 ^ c . Tallow has been quiet and
steady; City 6% c . Stearines have been dull and easy; oleo
83^c. and lard ll@ 1 1 3 ^ c . Butter has been fairly active
and easier; creamery extras 243^c. Eggs have been quiet
and firm; Western firsts 183^@ 19c. Cheese has been quiet
and firm; State, small, colored or white, best, 12J^c.
O IL .— Cottonseed has been fairly active and firm. Prime
summer yellow 5 6 @ 5 7 c.; prime winter yellow 6 0 @ 6 1 c.
Linseed has been quiet and steady; City, raw, American
seed, 4 3 @ 4 4 c.; boiled 4 4 @ 4 6 c.; raw, Calcutta seed, 70c.
Lard has been m oderately active and steady; prime 7 5 @ 7 7 c.
and No. 1 extra 5 7 @ 5 8c. Cocoanut has been steady with
the demand lim ited to small lots. Cochin 1 0 @ 1 0 ^ c . and
Ceylon 9 @ 9 % c . Peanut has been m oderately active and
firmer; yellow 6 5 @ 8 0 c. Olive has been quiet and steady;
yellow 7 0 @ 8 0 c. Cod has been in moderate demand with
domestic easier at 36 @ 3 8 c. and Newfoundland steady at
40 @ 4 2c.
CO FFEE on the spot has been quiet and steady. Rio
No. 7, 6% c . and Santos N o. 4, 7.40c. W est India growths
have been quiet and steady; fair to good Cucuta 8 ^ @ 9 ^ c
The speculation in lard futures has consisted largely of chang­
ing from the near ot the distant deliveries. Prices have
fluctuated within narrow confines. There is little or no ou t­
side public interest in the speculation and professional opera­
tors are not disposed to do much pending developments in
the new-crop situation. Some liquidation for Wall Street
account has taken place during the week, bu t prominent
local interests have absorbed the offerings.
The closing prices were as follows:
A u g u s t-----------------5 .7 5 c .
S e p te m b e r _______ 5 .7 5 c .
O c t o b e r __________5 .7 5 c .
N o v e m b e r ______5 .7 5 c .

D e c e m b e r _______ 5 .80c . l A p r l l ______________5 .8 5 c .
J a n u a r y __________5 .8 0 c . M a y _______________ 5 .9 5 c .
F e b r u a r y ________ 5 .8 0 c . | u n e _______________ 5 .9 5 c
J
M a r c h ........ ............5.85c.| J u l y ............................ 6 .0 0 c

S U G A R .— Raw has been quiet and steady. Centrifugal:
96-degrees test, 3.89c.; m u scovado, 89-degrees test, 3.39c.,
and molasses, 89-degrees test, 3c.
Refined has been
steady. New business has been quiet and the withdrawals
on old contracts have been small. Granulated 4 .7 0 @ 4 .9 0 c.
Teas have been firm with an increased trade. Spices have
been in good demand and firm. H ops have been quiet and
steady.
PE T R O L E U M .— Refined has been active and firm. R e­
fined, barrels 8.45c., bulk 5.00c. and cases 10.90c. Naphtha
has been active and firm; 7 3 @ 7 6 degrees 18c. in 100-gallon
drums. Gasoline has been active and firm; 86 degrees 21c.
in 100-gallon drums. Spirits of turpentine has been fairly
active and steady at 58J^c. Rosin has been in moderate
demand and steady; com m on to good strained $4 50.
TOBACCO .— The market for dom estic leaf has been firm.
A moderately active trade has been reported. Reports in
regard to the growing crop have been less favorable as a rule,
especially from the W est. Some estimates are that not more
than two-thirds of an average yield will be gathered, judging
from present prospects, and it is said that the tobacco will
be short. There has been a brisk demand for Sumatra,
largely from Western dealers.
C O P P E R has been easier at 19@19J4c. for lake and
18@ 18J4C- f ° r electrolytic. Lead has been quiet and steady
at 5 .0 5 @ 5 .1 5 c. Spelter has been dull and easy at 5.7 0@
5.80c. Tin has been dull and weak; Straits 36.65c. Iron
has been quiet and easier; No. 1 Northern $21 70 @ $ 22 20.

A U G .

17

417

THE CHRONICLE*

1 9 0 7 .]

COTTON.

O n S h ipb oard , N o t C leared fo r —

Fr-.dan Niqkt, August 16 1907.
T H E M OVEM ENT OF T H E CR O P as indicated by our
telegrams from the South to night ip given below. For the.
week ending this evening the total receipts have reached
8,763 bales, against 7,469 bales last week and 8,931
bales the previous week, making the total receipts since
the 1st, of September 1906, 9,689.351 bales, against 7,784.468
bales for the same period of 1905-06, showing an increase
since Sept 1 1906 of 1,904,883 bales.
S a t.

R eceip ts at—

M on.

W ed .

T u es.

636

736

119
138

202
300

"* 7 6
104

503

6

*332

’ *23

150

P o r t A r t h u r ------C or p u sC h r istl, &c
N e w O rlea n s____
M o b ile
__ .

F r i.

T h urs.

1,153

T ota l.

123

1,196

3 ,8 4 4

396
202

” 33
41

” l2 0
339

"946
1 ,1 2 4

325

152

343

1,661

....

....

122

295

88

21

45

“ III
573

J a c k s o n v ille , & c.
B r u n s w i c k ______
G e o r g e t o w n ____
W i l m i n g t o n ____
N o r f o lk _________
N e w p o r t N ., &c_

’ io o
49

*108

9
262

P h lla d e lp h la ____

25

---

6

15

---

T o ta ls th is w e e k .

1,593

1,502

1,942

371

1,061

34

21
108

108
46

2,294

8,763

The following shows the week’s total receipts, the total
since Sept. 1 1906, and the stocks to-night, compared with
last vear:
190 6-0 7.
R eceip ts to
A u g u st 16.

T h is
w eek.

190 5-0 6.

S in ce S ep
1 1906.

T h is
w eek.

S to c k .

S in ce S ep
1 1905.

W i lm i n g t o n _____
N o r f o lk ___________
N e w p o r t N ew s,& c
N e w Y o r k _______
B o s to n ___
B a l t i m o r e ____ __
P h il a d e l p h i a ____

3 ,8 4 4 3 ,8 6 3 ,0 5 9
132,823
71,8 3 5
946 2 ,2 9 3 ,6 2 8
257 ,9 7 4
1,124
144,509
7,7 6 0
1,661 1,4 7 2 ,5 6 5
170 ,609
149,312
295
1,270
3 22 ,670
111
573
586 ,210
42,991
23,064
55
72,794
108
6 2,370
46
1 0,908

T o t a l ___________

8,763 9 ,6 8 9 ,3 5 1

1907.

1 6,863 2 ,5 6 4 ,8 7 0
111,690
48
38,129
1,976 1 ,645,367
248,536
459
158,341
17,496
10
7,2 7 2 1,503,851
184,548
175,398
1,321
1,278
47
325 ,758
2,055
639 ,992
367
23,218
6,575
142
63,800
216
65,329
10,292
500
31,276 7 ,7 8 4 ,4 6 8

G a lv e s t o n ____
C or p u sC h r istl, & c .
N e w O r l e a n s ___
M o b ile _________ .
P e n s a c o la ____ _ .
J a c k s o n v ille , & c .
S a v a n n a h ________
B r u n s w ic k ----------C h a rleston _____

1906.

21,6 6 7

26,4 6 3

4 0 ,760
3,057

24,915
4 ,2 0 4

16,960
695
4 ,2 3 5

2 6 ,365
685
4,661

405
6,040

421
6,889

194 ,657
4,154
3,248
1,712

8 6 ,957
2,860
3,185
2,097

297 ,5 9 0

191,702

In order that com parison m ay be made with other years,
we give below the totals at leading ports for six seasons
R eceip ts at—

1907.

1906.

G a lv e sto n , & c
N ew O rle a n s.
M o b i l e _____ _
S a v a n n a h ___
C h a rleston , &c
W llm in g ’ n ,<5cc
N o rfo lk _ _ _
N ’p o r t N ., &c
A ll o t h e r s ____

3,844
946
1 ,124
1,661
295
111
575

T o ta l th is w k .

1905.

190 4.

|
1

"2 0 9

16,911
1,976
459
7,272
1,321
47
2 ,055
367
868

21,601
11,753
847
4,8 9 9
749
659
3,708
57
5,945

8,703!
1 ,433i
111
1.259
l,0 0 3 i
43
787:
__ j
” ‘ 800;

8,763

31,276

50,218

14,030

1902.

1903.
172'
600;

16,605
2,6 6 4
194
2,409
784
190
1,067
418
261

72:
6
28 i
161:
294
6881
2,021

24,692

Since S e p t. 1. 9 ,689,351 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 ,462j7 488 ,6 3 6

The exports for the week ending this evening reach a total
of 7,649 bales, of which 683 were to Great Britain,
446 to France and 6,520 to the rest of the Continent
Below are the exports for the week and since Sept. 1 .

Exports
p om —

Week ending Aug. 16 1907. From Sept. 1 1906 to Aug. 16 1907.
Exported to—
Exported to—
Conti­
Great |
B ritain .F r’nce nent.

..... ....

G a lv e s to n ____
Port Arthur___
Corp.Ohrlstl,<fee
New Orleans. _

-Ill

Fernandina . .
Savannah ____

'm

Charleston____
W ilm ington___
Newport News
New Y o r k ._ „ Boston

---

--- .....
--.........

491
79

Portland, Me
San Francisco.
Seattle ______
T a co m a ______
Portland, O re.
P e m b in a .........
T o t a l ............

683

446

:::::

Total 1905-06.

3,390

3,029
101

:::::
::::

446

6,520

Total.

Great
Britain. France.

Continent.

!
Total.

1.771,483 462,177 1,107,700 3,341,360
56,962
75,861 132,823
578
578
3,390 925,598 283,109 856,457-2,065,164
74,760 28,069
60,406 163,235
% 69,231 29,342
56,351^,154,930
1 0 0 ^ - — 100
" ’ I i3 16(i,760 50,866 708,673
52,519 142,240
89,721
21,393
21,393
125,342 6,000 186,265: 317,607
3,112
5,981
9,093
4,420
1,720
6,140
3,966 212,145 41,571 231,516 485,232
180 138,959
18,216 157,175
67,896 163,506
89,428 6 , 182
4,650;
40,951
36,301
7,512
______ ;
7,512
., 83,072
83,072
96,535
96,535
. 50,098
50,098
1,000:
1,000
4,176
4,176
‘ 9",679
9,679

.....

----

N e w O rle a n s * .
G a lv e s t o n ____
S a v a n n a h ____
C h a rle s to n ____
M o b i le ______. . .
N o r f o l k _______
N e w U o r k ____
O th er p o r t s ___

1,000
1,696

T o ta l 1 9 0 7 ..
T o ta l 1 9 0 6 . .
T o ta l 1 9 0 5 -.

3,096
4,917
30,837

600
1,100

G er­
Other
m a n y . F o r e ig n

"300

6,991
6,756
22,570

1,500
7,567
11,488

T ota l.

L ea vin g
stock.

200
500

4,0 0 0
8,787

‘ 800
4 ,5 0 0

1,700
9,702
9,2 9 6

1,200

"3 0 0
200

‘ 200
200

1,000
5,491

C oa st­
w ise.

"8 0 0
4,5 0 0
800
400

36,760
12,880
1 6,960
4 ,2 3 5
2,257
1,540
1 93 ,857
9,8 1 4

6,000
7,630
13,102

1 9,287
36,572
87,2 8 3

2 7 8 ,3 0 3
155 ,130
249 ,4 2 2

* E s tim a te d — teleg ra m n o t r e c e iv e d .

Speculation in cotton for future delivery has been quiet
at some decline in prices, due largely to the depression in
stocks. The favorable weather east of the Mississippi and
the telegraphers’ strike have also been contributory causes.
The paramount influence, however, has been the financial
situation, not only here bu t in Europe, where Liverpool
prices have been affected both b y declines in the London
stock market and b y the raising of the Bank of England rate
of discount to a rate rarely seen at this time of the year. In
the general judgm ent, the decline in cotton wouid have been
larger bu t for the continuance of dry, hot weather in Texas.
The telegraphers’ strike has interfered with the news service
and the returns in regard to the weather have therefore been
incom plete; bu t to all appearance the rainfalls in Texas have
been only m oderate, and certainly at a num ber of points
the temperatures have continued high. The receipts at
the Southwest, moreover, have been small. It is very evi­
dent that the crop is m oving late. Crop advices from Texas
are both favorable and otherwise, some indicating that the
plant is making good progress and others in different sections
of the State reporting that the d ry , hot weather o f many
weeks past is causing shedding and other damage. A d ­
m ittedly, however, the prolonged hot spell has to a con ­
siderable extent protected the plant from boll-w eevil, and
if the drought has been productive of really serious results,
the generality of the reports do not show it. Still, at times,
the market here has rallied on the continuance of dry con ­
ditions in Texas and mom entary upturns in the stock mar­
ket. Some are beginning to fear, too, that unless the Texas
drought is effectually broken in the near future, the next
Government report in September m ay be of a distinctly
bullish kind. In general, however, there has been a dis­
position to proceed cautiously, owing to the disturbed finan­
cial outlook, the stringency of m oney and some uncertainty
as to just what effect the drought of six to eight weeks in
Texas has really had. Besides, the telegraphers’ strike has
interfered with business, which was none too active before
it was declared. To-day there was a moderate advance
early, owing partly to a rise on the stock market, and partly
to continued dry weather in Texas, bu t later on the im prove­
ment was lost. This was due to a reaction in the stock market
profit taking and short selling. Spot cotton has been quiet.
Middling uplands closed at 13.25c., showing a decline for the
week of 15 points.
The rates on and off middling as established N ov. 21 1906
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follow s•
F a i r .................... c . 2.00 on
Strict mid. fair___1.75 on
Middling fair_____ 1.60 on
Barely mid. fa ir .. 1.25 on
Strict good m id ... 1.00 on
fu lly good m i d .. . 0.88 on
Good m iddling___0.76 on
Barely good m id .. 0.57 on
Stric*. m id d lin g ... 0.38 on
Middling _________ Basis

Strict low m id -.c . 0.14 off
Fully low m id____0.32 off
Low m iddling____0.50 off
Barely low m id___0.70 off
Strict good ord ___0.90 off
Fully good ord ____1.07 off
Good ordinary___1.25 off
Strict g d mid. tgd. 0.30 on
G ood mid. tinged. Even
Strict m id. tinged. 0.06 oft

Middling tin g e d .c .
Strict low mid.ting
Low mid. tin g e d ..
Strict g'd ord. ting
Fully mid. stained
Middling stained...
Barely tnid.stained
Strict low m. stain.
Fully 1. m . stained
trf>w mid. stained.

0.12
0.46
0.90
1.25
0.42
0.50
0.78
1.50
1.75
2.00

off
off
off
off
oft
off
oft
off
oft
off

The official quotation for middling upland cotton in the
New Y ork market each day of the past week has been:
A u g . 10 to A u g . 16—
S a t.
M id d lin g u p l a n d . . ......................... 13.40

M on.
13.30

T u es.
1 3 .3 0

W e d . T h u r s.
13.25
13.25

F ri.
13.25

N E W Y O R K Q U O TA TIO N S FO R 32 Y E A R S .
The quotations for middling upland at New York on
A ug. 16 for each of the past 32 years have been as follow s1 9 0 7 _ c ._
1906_ .
19 0 5 ____
1 90 4____
1 9 0 3 ____
1 9 0 2 ._ .
1 9 0 1 ____
1 9 0 0 ____

. . . 1 3 . 2 5 | 1 8 9 9 .c ._ . _ .
___10.3 0 |1 8 9 8 ___
_.
_ . 10.50 I 1 8 9 7 . . _
-1 0 .6 5 18 9 6 ____ _ _ .1 2 .7 5 11895______
. - 9 .0 0 | 1 8 9 4 _____
- - 8 .0 0 1 1 8 9 3 . - . - . .
- .1 0 .1 2 1 8 9 2 _____ - .

6.19
6.0 0
8.00
8.19
7.56
7.00
7 .5 0
7.12

1 8 9 1 .C -1 8 9 0 ...
1 8 8 9 ____
1 8 8 8 ____
1 8 8 7 ____
18 8 6 ____
1 8 8 5 ____
1 8 8 4 ____

- . 8 .0 0 | 1 8 8 3 .C .. . . . 1 0 . 1 9
. . 1 2 .0 6 11 8 8 2 ___ . - . 1 3 . 0 6
___11.31 11 8 8 1 _____ - . - 1 2 . 1 2
.-- 1 1 .3 8 1 1 8 8 0 ____ . . . 1 1 . 5 6
9.6 2 18 7 9 ____ . - . 1 1 . 2 5
9 .4 4 | 1 8 7 8 ____ ___ 11.94
_ _ _ 1 0 .4 4 1 1 8 7 7 ____ . _ 11.44
___1 0 .8 8 11 8 7 6 _____ . - - 1 2 . 3 8

M A R K E T A N D SA LES A T N EW Y O R K .
The total sales of cotton on the spot each day during the
week a New Y ork 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.
r*t------------------------------------------------------------------------ — ----------------S p o t M a rk et
C losed.

F u tu r e s
M a rket
C losed.

Q u i e t _______________
Q u ie t 10 p t s .d e c ___
Q u i e t ----------------------Q u ie t 5 p t s . d e c ------Q u i e t ----------------------Q u i e t -----------------------

S t e a d y _______
S t e a d y _______
V ery ste a d y .
B a r ’ly s te a d y
S t e a d y .............
B a r ’ly s te a d y

S a les o f S p ot and C on tract.
C onC on E x p o rt su m 'n . tract.

T otal.

7,649 3,781,413 907,3163.691,1698,379,898

12,572 2,659 15,740 30,971 2,878,239 745,098 2,880,367 6,503,704

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New Y ork.




Great
A u g u st 16 at— Britain. F r a n ce

S a t u r d a y ..
M o n d a y ___
T u e s d a y ._
W edn esda y
T h u r sd a y .
F r id a y ____
T o ta l .

250
100
219
63

9,5 5 0
100
219
3,000 3,0 6 3
10,000 10,000
22,300 22,9 3 2

418

TH E CHRONICLE.

H ^ 22 2.^rag2S»'e.- go£8SS 2.ET2og2.sgg’-

3s I r

I f g § £ tf § 3 IS gr §.EI|g
3-®

<_

SFS-rsciS £ 2

Towns.

.

_

.

.

.

_

_

-

The above totals show that the interior stocks have de­
creased during the week 4,531 bales and are to-night 34,177
bales less than at the same time last year. The receipts at
all the towns has been 21,295 bales less than the same week
last year.
_

.

.

.

.

_

.

T o t a l C o n tin e n ta l s t o c k s _______

416 ,0 0 0

T o t a l E u ro p e a n s t o c k s __________1 ,3 5 7 ,0 0 0
In d ia c o t to n a floa t fo r E u ro p e ___
108 ,0 0 0
A m e r ic a n c o t to n a flo a t fo r E u rop e
2 7 ,6 0 9
E g y p t,B ra z il,& c .,a flo a t fo r E u ro p e
2 2 ,0 0 0
S t o c k l n A le x a n d r ia , E g y p t ______
3 1 ,0 0 0
S to c k In B o m b a y , I n d i a __________
6 0 9 ,0 0 0
S t o c k ln U . S. p o r t s _______________
2 97 ,590
S t o c k in U . S . in te rio r t o w n s ______
83,6 9 5
U . S . e x p o r t s t o - d a y ............................
1,3 1 4

5 2 8 ,0 0 0
19,000
107 ,0 0 0
_______
7 4 ,0 0 0
4 ,0 0 0
1 0 ,0 0 0
2 6 ,0 0 0
6 ,0 0 0

7 9 8 ,0 0 0
14,0 0 0
2 1 1 ,0 0 0
1,000
8 3 ,0 0 0
3 ,0 0 0
1 8 ,0 0 0
9 ,0 0 0
3 ,0 0 0

3 2 9 ,0 0 0
4 3 ,0 0 0
8 0 ,0 0 0
4 ,0 0 0
8 8 ,0 0 0
4 ,0 0 0
23,0 0 0
1 0 ,000
18,000

O V E R LA N D M OVEM ENT FOR TH E W E E K AND
SIN CE SE PT. 1. W e 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:

2 4 6 ,0 0 0

3 4 2 ,0 0 0

2 7 0 ,0 0 0

7 7 4 ,0 0 0
7 4 ,0 0 0
9 5 ,6 8 9
16,000
3 4 ,0 0 0
6 6 7 ,0 0 0
191 ,7 0 2
117 ,872
1,761

1 ,1 4 0 ,0 0 0
138 ,0 0 0
196 ,0 0 0
2 3 ,0 0 0
5 2 ,0 0 0
6 7 3 ,0 0 0
3 3 6 ,7 0 5
126 ,254
1 5 ,900

5 9 9 ,0 0 0
61,0 0 0
18,000
13,000
6 5 ,0 0 0
3 6 1 ,0 0 0
7 9 ,6 2 2
6 0 ,093
1,064

A u g u s t 16—
S h ip p ed
V ia S t. L o u is ____ _____ __

T o t a l v isib le s u p p ly ____________ 2 ,5 3 7 ,2 0 8 1 ,9 7 2 ,0 2 4 2 ,7 0 0 ,8 5 9 1 ,2 5 7 ,7 7 9
O f th e a b o v e , t o ta ls o f A m e r ic a n a n d o t h e r d e s c r ip tio n s are as fo llo w s :
A m e r ica n —
L iv e r p o o l s t o c k ____________ b a le s . 7 2 7 ,0 0 0
3 5 6 ,0 0 0
6 5 3 ,0 0 0
181 ,0 0 0
M a n ch ester s t o c k __________________
5 3 ,0 0 0
4 3 ,0 0 0
4 3 ,0 0 0
15,000
C o n tin e n ta l s t o c k _________________
3 1 8 ,0 0 0
1 87 ,000
3 0 6 ,0 0 0
157 ,0 0 0
A m e r ic a n a floa t fo r E u r o p e _______
27,6 0 9
9 5 ,6 8 9
196 ,0 0 0
18 000
U . S . p o r t s t o c k s - . - .................. .........
2 9 7 ,5 9 0
191 ,7 0 2
3 3 6 ,7 0 5
7 9 ,622
U . S . in te rio r s t o c k s ........ ...................
83,695
117 ,8 7 2
126 ,2 5 4
6 0 ,093
U . S. e x p o r t s t o - d a y ............................
1,314
1,761
15,9 0 0
1,064
T o t a l A m e rica n ...................... ....... 1 ,5 0 8 ,2 0 8
E a st In d ia n , B r a z il, & c .—
L iv e r p o o l s t o c k - .................. .................
1 2 7 ,0 0 0
L o n d o n s t o c k ______________________
2 2 ,0 0 0
M a n ch e ste r s t o c k __________________
1 2 ,0 0 0
C o n tin e n ta l s t o c k ............. ...................
9 8 ,0 0 0
In d ia a floa t fo r E u r o p e ___________
1 0 8 ,0 0 0
E g y p t , B ra zil, & c ., a flo a t ________
2 2 ,0 0 0
S t o c k in A le x a n d r ia . E g y p t ______
3 1 ,0 0 0
S t o c k in B o m b a y , I n d i a . ................
6 0 9 ,0 0 0
T o t a l East I n d ia , & c ............. .......1 ,0 2 9 ,0 0 0
T o t a l A m e r i c a n .............................. 1,5 0 8 ,2 0 8

9 9 3 ,0 2 4

1 ,6 7 6 ,8 5 9

5 11 ,779

107 ,0 0 0
16,000
6 ,0 0 0
5 9 ,0 0 0
7 4 ,0 0 0
16,000
3 4 ,0 0 0
6 6 7 ,0 0 0

7 7 ,0 0 0
1 8 ,0 0 0
7 ,0 0 0
3 6 ,0 0 0
1 3 8 ,0 0 0
2 3 ,0 0 0
5 2 ,0 0 0
6 7 3 ,0 0 0

100 ,000
2 8 ,0 0 0
5 ,0 0 0
1 13 ,000
6 1 ,0 0 0
13,000
65,0 0 0
361 ,0 0 0

9 7 9 ,0 0 0 1 ,0 2 4 ,0 0 0
9 9 3 ,6 2 4 1 ,6 7 6 ,8 5 9

7 4 6 ,0 0 0
5 11 ,779

T o t a l v isib le s u p p ly ____________ 2 ,5 3 7 .2 0 8 1 ,9 7 2 ,0 2 4 2 ,7 0 0 ,8 5 9
1 ,2 5 7 ,7 7 9
M id d lin g U p la n d , L iv e r p o o l______
7 .2 9 d .
5 .5 1 d .
5 .8 0 d .
6 .1 2 d .
M id d lin g U p la n d , N ew Y o r k ...........
1 3 .2 5 c .
1 0 .2 0 c .
1 0 .7 5 c .
1 0 .6 5 c .
E g y p t , G ood B r o w n , L iv e r p o o l_ _ 1 1 .5 -1 6 d .
ll^ d .
8 ) ^ d . 7 1 5 -1 6 d .
P e r u v ia n . R o u g h G o o d . L iv e r p o o l 1 1 .7 5 d .
8 .6 5 d .
9 .6 5 d .
1 0 .5 0 d .
B r o a c h , F in e , L i v e r p o o l--------------- <r 6 H A .
5 7 -1 6 d .
5 9 -1 6 d . 5 l l - 1 6 d .
T ln n e v e lly , G o o d , L i v e r p o o l---------■*% 5 % d . IPHSM d.
5^d.
5 5-16d

(Vjntinentarimports'past week haveT
been 69,000'8
bales.
in e above figures for 1907 show a decrease from last week
of 145,960 bales, a gain of 565,184 bales over 1906, a de­
crease of 163,651 bales from 1905, and a gain of 1,279,429
bales over 1904.




_

941 ,0 0 0
18,0 0 0
173 ,0 0 0
_______
1 42 ,000
3 ,0 0 0
1 9 ,0 0 0
2 1 ,0 0 0
4 0 ,0 0 0

.

T o ta i G reat B rita in s t o c k ...........
S to c k a t H a m b u r g ..............................
S to c k a t B r e m e n __________________
S t o c k a t A n t w e r p ________________
S t o c k a t H a v r e ____________________
S to c k a t M a r s e ille s -............. ..............
S to c k a t B a r c e l o n a _______________
S t o c k a t G e n o a ____________________
S t o c k a t T r i e s t e ___________________

1906.

.

1904.
2 8 1 ,0 0 0
28,0 0 0
20,0 0 0

1
7

.

190 5.
7 3 0 ,0 0 0
18,00®
5 0 ,0 0 0

1907.Movem ent t August
o

.

W eek .

1906.
4 6 3 ,0 0 0
16,000
4 9 ,0 0 0

1
6

F r id a y ,
A u g. 16.

1907.
8 5 4 ,0 0 0
2 2 ,0 0 0
6 5 ,0 0 0

M ovem ent to August

Thursday,
A u g . 15.

* T h is y e a r ’ s figu res estim a te d — teleg ra m s n o t re ce iv e d .

R eceipts.
Sh ip'ts. stock s. R eceipts.
S h ip - S tocks
------------------------------------------------------------------------------------------------------------------------------------------------------------- -- --------------------merits.A u g .
Week.
Season.
W eek. Aug. Id
W eek.
Season.
W eek.
17.

W ednesday,
A u g. 14.

I

A l a b a m a ................................................................................................................................................................ 21,696.............. 26712623,7191291,218
“
............................................................................................................................................................
5 177,864 5 1,580286168,170 3694 ,4 2 9
8
8
2 107,394 2 8 761106,1771,6501,725
0
15
“
..................................................................................................................................................................
67553,994; 1
104
A r k a n s a s ..................................................................................................................................................... 68,0921 6
“
.................................................................................................................................................
8 241,690 2 4,718147191,472! 1,94015,380
7
1
Georgia
_____________________________________________________________________________ 23,000 ____ 3 29,325! 3 1,239
2
1
7
"
..................................................................................................................................................................................................................107,403 2 1,3625 91,5641 1,3064 ,2 2 7
5
2
1 143,375 1102,64614749,641i 2911,2 5 8
6
“
......................................................................................................................................
“
..................................................................................................................................
501369,348 1,3376,663659356 ,352 ; 4,3708,807
“
...............................................................................................................................
55,0865 6087 72,991. 1,2009,5 1 3
8
6 5
“
...........................................................................................................................
56,4302 3757358,6933993,744
5
2
“
.......................................................................................................................
4 54,4812603,03714644,1102452,7 5 9
1
K en tu ck y, n e t 3 8,5052 5 5 7,8305 100
3
300
0
L o u is i a n a .................................................................................................................
1 197,5931 2,7921 103,298 6 1,314
8
7
0
0
M is s is s ip p i___________________________________________________________ 51,599__________ 1,963________ 36,951
_ 309
_ 156
“
_________________________________________________________ 66,921 1001,100_____ 42,107
“
_______________________________________________________. ______ _____________ 80,012______ 400__________ 62,885i 100200
4 97,1549 1,4007 74,764j 1,301820
0
6
0
“
................................................................................................. .................
“
.............................................................................................
174,0381333219
0
47,4925 193
7
“
_________________________________________________
2 86,1107 795______ 69,979239873
5
8
"
......................................................................................
...................... ........................55,1793 2259
4 52,7681 352
6
940808,167 1,4815,0042,772549,157 4,72618,142
Missouri _ ..................................................................................
North C a ro lin a ----------------------------------------------------------------15019,1121992658 15,977225436
5
O h io ..........................................................................
1,272154,233 1,3456,209578157,503 9995,631
South C a ro lin a ______________________________________
____________ 22,004.. .. 3 17519,355] 4 ,5 4 2
7
T e n n e s s e e -------------------------------------------------------651956,1894,47426,869224799,606j 4377 ,0 1 7
“
__________________________________
10020,8148 2,395
0
4
7
14,0031
_____ 632
T e x a s . ............................................................
16,7192 36795010,5027001,0 0 2
6
0
...... ........................12,540
“
........................................................ ......... ........................39,029............
“
____________________________ ..............99,567............
......
..
80,690
........
“
__________________________
_ 33,731______ .. 18,872
• ------------------------------------- ----------------'
4,9592,939,531 3,48011,48422,7572,104,301 15,28621,7 5 0
“
______________________ _
_____________ 98,981______ _____________
66,346
_
___

Tuesday,
A u g. 13.

—

----------

----------

T ota l, 3 t o w n s ................................................................................................. 8,9407,351,047 13,471 83,69530,2355,593,134 36,113117 ,872
3

M on d ay,
Aug. 12.

1 1 .2 4 @ 1 1 .7 9
—
—
—

Saturday,
A u g. 10.

1 1 .24@ 11 .35
1 1 .3 4 — 11.35

1 1 .7 8 @ 1 2 .3 1
—
—
—

.

11.35@ 11 .55
11.34— 11.35

11.7 8 @ 1 1 .9 2 11.87@ 11 .98
1 1 .9 0 —
— 11.87— 11.88

1 1 .20@
— 11.23@ 11 .24 11.20@ 11.59
1 1 .2 3 — 11.27 11.2 0 — 11.22 —
—
—

1 1 .38@ 11 .53
1 1 .4 9 — 11.50

11.90@ 12 .07
1 1 .8 9 — 11.90

11.35®
— 11.31 @ 11.40
11 .4 1 — 11.43 11 .2 3 — 11.24

11.49@ 11 .70
1 1 .5 7 — 11.58

11.92@ 12 .06
1 2 .0 6 — 12.07

1 1 .59@
— 11.40 @ 11.50
1 1 .6 1 — 11.63 1 1 .4 6 — 11.48

11.70@ 11 .79
11.7 2 — 11.73

12.02@ 12 .22
1 2 .0 5 — 12.06

11.29@ 11.40
11.3 1 — 11.32

12.2 2 @ 1 2 .3 1
1 2 .2 2 — 12.23

1 2 .0 1 @ 1 2 .5 2
—
—
—

----------- @
—
—

12.00 @12.18 11.91 @12.04
12 .0 0 —
— 12.0 1 — 12.02

12.0 9 @ 1 2 .2 1
12.10— 12.11

@
------------------ @
-----------@
1 1 .9 3 — 11.95 11.90— 11.91 —

12.02 @12.18
1 2 .1 7 — 12.18

12.09@ 12 .27
12 .0 9 — 12.10

@
— —
11 .9 2 — 11.94

12.15 @12.35
1 2 .1 7 — 12.18

12.11@ 12 .27
1 2 .2 7 — 12.28

—
@
-------------------------------- @
—- —
12.2 5 — 12.27 1 2 .0 9 — 12.11 1 2 .1 0 — 12.11

12.33 @12.43
1 2 .3 6 — 12.37

12.33@ 12.40
1 2 .2 6 — 12.27

12.23@
------------------- @ 1 2 . 2 1 —
@
------ @
— 1 2 .2 1 @ 1 2 .5 2
1 2 .2 9 — 12.30 12 .1 2 — 12.14 1 2 .1 4 — 12.15 12 .1 2 — 12.14 —
—
—

1 2 .0 9 @ 1 2 .5 9
—
—
—

12.00 @12.12 11.91 @ 1 2 .4 3
12.00— 12.01 —
—
—

12.42@ 12 .52
1 2 .4 5 — 12.46

12.27@ 12 .42
1 2 .2 9 — 12.30

1 2 .01@ 12 .14
1 2 .1 2 — 12.13

—
@12.52
12.4 8 — 12.49

1 2 .24@ 12 .36
1 2 .3 6 — 12.37
12.19@ 12.36 12.09 © 12.20 12.19@ 12 .27
12 .1 9 —
— 1 2 .2 1 — 12.23 12 .1 9 — 12.20

12.35@ 12 .48
1 2 .3 5 — 12.36

—

12.22 @ 12.26
—
—
—

12.50@ 12 .59
1 2 .5 4 — 12.55

—
@ 12.30
12.28@ 12 .29

—
---------- --------------------

—
@ 1 2 .6 5 —
@
--- @
— 12.39@ 12.40 12.1 5 @ 1 2 .1 8 —
@
— 1 2 .1 5 @ 1 2 .6 5
1 2 .5 7 — 12.59 1 2 .3 9 — 12.41 12 .4 0 — 12.42 1 2 .2 2 — 12.24 1 2 .2 4 — 12.26 12.22— 12.23 —
—

-----------@
---------- —

12.22 @ 12.25
1 2 .3 1 — 12.33

---------- @
----------- @
—
---------- ------------------------------------------------------------

------- @
---------- —

1 2 .33@ 12.35 —
@ 12.30
1 2 .4 4 — 12.45 12 .2 7 — 12.29

---------- —

—k
.—

-----------@
---------- —

1 2 .43@ 12.55
1 2 .4 3 — 12.44

------- @
------- —

----------- @
-----------@
-----------@
---------- — ---------------- --------------------—

@

@
—

------- @
------- —
-----------@
---------- —

@
—

12.61 @ 12.66
1 2 .6 2 — 12.63

—
—

—
—

A u g u s t 16—
S t o c k a t L i v e r p o o l ________ b a le s ,
S t o c k a t L o n d o n . ..............................
S to c k a t M a n ch este r . .......................

.

Eufaula,*
M on tgom ery,
Selm a*
H elena,
Little R o c k ,
A lb a n y ,
A then s,
A tla n ta ,
A u gusta,
C olum bus,
Macon,*
R om e ,
Lou isville,
S h revep ort,
Colum bus,*
Greenville,
G reen w ood,
Meridian,*
N atch ez,
V ick sb u rg,
Yazoo City,*
St. Louis,
Raleigh,
Cincinnati,
G reen w ood,
M em phis,
N ashville,
Brenham ,
Clarksville,
D allas,
Honey G rove,
H ou ston ,
Paris,

A u g u s t—
Range
Closing
S e p t .—
Range
Closing
O ct.—
Range
Closing
N o v .—
Range
Closing
D e c .—
Range
Closing
J a n .—
Range
Closing
F e b .—
Range
Closing
M a rch —
Range
Closing
A p ril—
Range
Closing
M ay—
Range
Closing
J u n e—
Range
Closing
J u ly —
Range
Closing

------------ :------------

T H E V IS IB L E S U P P L Y OF CO TTON 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.

lxxxv

A T T H E IN T E R IO R T O W N S the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items fot
the corresponding period for the previous year— is set our
in detail below,

.

F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:

[V o l .

V i^
V ia
V ia
V ia

--------1 9 0 6 -0 7 -------S in ce
W eek .
S ep t. 1.
____ . 1,481
81 8 ,0 7 9
2 17 .767
53
8 5 ,212
R o c k Is la n d ________ _ _
L o u is v i ll e ________ __ __
8 9 ,5 8 9
200
54,7 2 9
C in cin n a ti . . _______________
141
43 0 ,0 6 2
285
o th e r r o u te s , & c - _ . . - ___

T o t a l gross o v e r la n d ___________ - 2,310 1 ,6 9 5 ,4 3 8
D ed u ct sh ip m en ts—
1 69 ,136
209
O v e rla n d t o N . Y . , B o s t o n , & c_
93,4 9 8
B e tw e e n In terior to w n s - _______
In la n d , & c ., fro m S o u t h —
_ - . 2 ,0 6 7
9 1 ,1 4 0
T ota l to be d ed u cte d

______

6 ,8 1 2 1 .2 2 3 .0 8 8
858

1,460

145,996
19,581
7 7 ,9 1 4

353 ,774

2,318

2 4 3 ,4 9 1

34 1 ,3 4 1 ,6 6 4

4,4 9 4

9 7 9 ,5 9 7

. 2,2 7 6

L e a v in g t o t a l n e t o v e r l a n d .a ______

--------1905 - 0 6 -------S in ce
W eek .
S ep t. 1.
4 ,7 2 6
541 ,791
311
2 0 2 ,1 4 0
44,911.
304
102 ,925
384
58 ,626
1,087
27 2 ,6 9 5

a I n c lu d in g m o v e m e n t b y rail t o C a n a d a .

The foregoing shows the week’s net overland move­
ment has been 34 bales, against 4,494 bales for the
week last year, and that for the season to date the aggre­
gate net overland exhibits an increase over a year ago of
362,067 bales
----------1 9 0 6 -0 7 ---------Since
I n S ight and S p in n er s ’
Sept. 1.
T a k in g s.
W e ek .
9 ,6 8 9 ,3 5 1
R e c e ip t s a t p o r ts t o A u g . 1 6 ........... 8 ,7 6 3
1 ,3 4 1 ,6 6 4
N e t o v e r la n d t o A u g . 1 6 ___________
34
2 ,3 7 8 ,0 0 0
S o u th e rn c o n s u m p t io n t o A u g . 16 48,0 0 0

----------1 9 0 5 -0 6 ---------S in c e
W eek .
S ep t. 1.
3 1 ,276
7 .7 8 4 ,4 6 8
4 ,4 9 4
9 7 9 ,5 7 7
4 7 ,0 0 0
2 ,3 1 3 ,0 0 0

1 3 ,4 0 9 ,0 1 5
&12.581

8 2 ,7 7 0 1 1 ,0 7 7 ,0 6 5
a 5 ,8 7 8
6 1 7 ,3 0 5

I n te r io r s to c k s In e x c e s s ___________ a4,531

C a m e In to sig h t d u r in g w e e k ___ 52,2 6 6
T o t a l in s ig h t A u g . 1 6 ___________ _______ - 1 3 ,3 9 6 ,4 3 4
N o rth , s p ln n re s ’ ta k in g s t o A u g . 16 1 5 ,156
a D ecrease d u r in g w « e k .

2,6 ,1
2 ,6 5 2 .1 9 1

7 6 ,8 9 2
19,843

l l" ,059’,760
2 ,3 9 6 ,6 0 7

b Less t h a n S e p t . 1.

Movement into sight in previous years:
W e ek —
1905— A u g .
190 4— A u g .
19 0 3 — A u g .
190 2— A u g .

B a les, j S in c e S e p t. 1—
B a les.
1 8 - .........................9 6 ,3 9 7 i 1 9 0 4 -0 5 — A u g . 18
. .. 1 3 , 4 5 2 , 7 9 8
1 9 .......... ......................30,978| 1 9 0 3 -0 4 — A u g . 19
_____ 1 0 ,1 1 0 ,3 0 9
21
........................ .2 9 , 4 5 8 ] 1 9 0 2 -0 3 — A u g . 21 .............. 1 0 ,7 0 3 ,2 4 5
2 2 .................................61,594| 1 9 0 1 -0 2 — A u g . 2 m ............. .1 0 ,4 5 1 ,4 8 3

A u g . 17 1907. J

THE CHRONICLE.

419

Huntsville, Texas.— There has been rain on one day of the
week, the rainfall being one inch and thirty-nine hundredths.
The thermometer has averaged 86, highest being 100 and
low est 71.
Kerrville, Texas.— There has been rain on one day the past
week, to the extent of eight hundredths of an inch. The
C losin g Q uota tions fo r M id d lin g C otton on
thermometer has averaged 82, ranging from 64 to 100.
W eek ending
Lampasas, Texas.— It has rained on one day of the week,
A u g u s t 16.
S a t’ d a y . M onday. T uesday. W ed' d a y . Thursd'u. F r id a y .
to an inappreciable extent. The thermometer has ranged
G a lv e sto n 13 H
from 69 to 102, averaging 86.
Vz k
13 V
s
13 V
g
13 y8
N ew O rleans
13«
12H
13
Longview, Texas.— There has been rain on one day of the
M ob ile ________ 1
12%
12 H
12M
S a v a n n a h _____ 12 V
12M
i.
12 U
125^
12 5s
125^
week, the rainfall reaching eighty hundredths of an inch.
C h a r l e s t o n - ___
Average thermometer 8 8 , highest 104, lowest 72.
W ilm in g t o n ____
13H
13
N o r f o l k _____
13 H
13 H
131/2
13
Luling, Texas.— W e have had rain on two days during the
13.25
13.30
13.25
13.30
13.40
B oston
- - - - 13.40
week, the precipitation reaching tw enty hundredths of an
B a ltim o re - - . 1 3 ^
13 Vs
13 y»
13 <4
13^
13 5
-8
13.55
13.50
13.50
P h ila d e lp h ia ___ 13.65
13.55
13.50
inch. The thermometer has averaged 85, the highest being
A u g u s t a ........
1334
13H
98 and the lowest 72.
13 y8
13 X
M e m p h i s _______ 13 ys
13 H
13K
H h
13 ys
13 «
13 M
i
13^
13 V
is
S t. L o u is _______ 13 %
Palestine, Texas.— There has been no rain during the week.
____
_ -_
H o u s t o n ____ . 13 H
The thermometer has averaged 86, ranging from 74 to 98.
125^
L it t le R o c k ____ 12 5
-6
12 Vi
12 %
12H
125-6
San Antonio, Texas.— W e have had rain on one day of the
week, the rainfall being thirty-tw o hundredths of an inch.
N E W O R LE A N S OPTION M A R K E T .— The highest, The thermometer has ranged from 70 to 98, averaging 84.
Shreveport, Louisiana.— There has been rain on one day of
lowest and closing quotations for leading options in the New the week, the rainfall being tw o hundredths of an inch.
Orleans cotton market for.the past week have been as follows: The thermometer has averaged 87, highest being 102 and
lowest 72.
S a t’ day, M o n d a y , Tuesday, W ed ’ day, T h ursd’ y, F r id a y ,
Helena, Arkansas.— Cotton is doing well bu t needs rain.
A u g . 10. A u g . 12. A u g . 13. A u g . 14. A u g . 15. A u g . 16.
Corn is suffering. While there has been rain in the neigh­
A u g u s t—
borhood , there has been only one sprinkle here during the
R a n g e ----------- — @ — — @ — — @ — — @ — 12.62 — — @ —
week, the rainfall reaching three hundredths of an inch.
C lo s in g ----------- 13.00 — 12.8 5 — 12.85 — 12.60 — 12.65 — 12.55 —
S ep tem ber—
Average thermometer 84.7, highest 98, lowest 72.
R a n g e _______ 1 2 .9 6 -.9 0 — @ — 12.75 — — @ — — @ — — @ —
Mem phis, Tennessee.— Crop reports are good generally bu t
C lo sin g ----------- 1 2 .9 0 -.9 5 12 .8 6 — 12.78 — 1 2 .5 8 -.6 0 1 2 .6 5 -.7 0 1 2 .5 5 -.5 6
October—
rain is beginning to be needed in some sections. There has
R a n g e _______ 1 2 .5 6 -.6 9 1 2 .4 0 -.5 7 1 2 .3 0 -.4 6 1 2 .2 4 .4 3 1 2 .1 5 -.3 2 — @ —
been rain on one day during the week, the precipitation being
C lo s in g _______ 1 2 .5 7 -.5 8 1 2 .4 4 -.4 5 1 2 .4 5 .4 6 1 2 .2 4 -.2 5 1 2 .3 1 -.3 2 1 2 .2 2 -.2 3
four hundredths of an in ch , but heavier in this immediate
N ovem b er—
R a n g e ----------— @ — — @ — — ® — — @ —
— @ —
neighborhood. The thermometer has averaged 84.8, the
— @ _ 12.41 — 1 2 .2 0 -.2 2 12 .2 8 -.3 0 1 2.19-.2 1
C l o s i n g _____
highest being 91.8 and the lowest 73.
D ecem b er—
R a n g e _______ 1 2 .5 3 -.6 4 1 2 .3 5 -.5 0 12.2 5 -.4 1 1 2 .1 9 -.3 7 1 2 .1 0 -.2 7 — @ —
M em phis, Tennessee.— The first open boll o f the season
C lo sin g ----------- 1 2 .5 2 -.5 3 1 2 .4 6 -.4 9 1 2 .3 9 .4 0 1 2 .1 8 -.1 9 1 2 .2 6 -.2 7 1 2 .1 7 -.1 8
was received on Monday from Arnold, Bolivar County, Miss.,
J an u ary—
R a n g e _______ 1 2.6 0 -.7 1 1 2 .4 3 -.6 1 1 2 .3 3 -.4 8 1 2 .2 7 -.4 4 1 2 .2 0 -.3 4 — @ —
twenty-three days later than last year and thirteen days
C lo s in g _______ 1 2.60-.6 1 1 2 .4 7 -.4 8 1 2 .4 8 -.4 9 1 2 .2 6 -.2 7 1 2 .3 3 -.3 4 1 2 .2 4 -.2 5
behind the average year.
M arch —
Charleston, South Carolina.— There has been rain on three
R a n g e --------- — @ .8 1 1 2 .5 6 -.7 5 1 2 .4 6 -.6 0 — @ — — @ — — @ —
C lo sin g ----------- 1 2 .7 1 -.7 2 1 2 .5 9 -.6 0 1 2 .6 0 .6 1 1 2 .3 8 -.3 9 1 2 .4 5 -.4 6 1 2 .3 6 -.3 7
days of the past week, to the extent o f eight hundredths of
T on e —
an inch. The thermometer has averaged 83, ranging from
Spot - ___
Q u ie t.
S te a d y .
Q u ie t.
Q u ie t.
Q u ie t.
Q u ie t.
O p t i o n s ______ S te a d y .
S te a d y . S te a d y . S te a d y . S te a d y . S te a d y .
77 to 95.
Nashville, Tennessee.— Crop outlook continues good. W e
have had rain during the week, the rainfall being sixty-four
R E C E IP T S FROM T H E P L A N T A T IO N S .— The follow ­ hundredths of an inch. The thermometer has ranged from
ing table indicates the actual m ovem ent each week from the 68 to 94.
M obile, Alabama.— The weather has been very favorable
plantations. The figures do n ot include overland receipts
nor Southern consum ption; they are simply a statement of and the plant is fruiting well. Very lim ited picking as yet.
There has been rain on five days o f the week, the rainfall
the weekly m ovem ent from the plantations of that part of the reaching two inches and seventeen hundredths. Average
orop which finally reaches the market through the outports. thermometer 81, highest 90, lowest 71.
Montgomery, Alabama.— South Alabam a has sent tw o
Receipts at the Ports.
Stock al Interior Towns. Receipts from Plantat'm.
new bales to the M ontgom ery market this week. The cot­
Week
ton crop is developing splendidly, showing much im prove­
tn&ing— 1907.
1906
1905
1907.
1906.
1905.
1907.
1906.
1905.
ment daily. The outlook is excellent, nearly all reports
July
5 14,273 25,008 62,152 152,593 186,428 201.550
13,929 40,403
from different sections being fine. It has rained on tw o
• 12 13,787 27,440 81,598 137,969 176,752 189,617
•
17,764 69,665
days during the week, the precipitation reaching thirty"
19 10.553 25,601 104,182 115,217 158,701 176,666
7,550 91.231
• 26
•
8,030 30,538 97,193 106,482 144,069 160,200
15.906 80,727
eight hundredths o f an inch. The thermometer has averaged
8,931 34,017 74,337 94,161 134,959 142,195
Aug. 2
24.907 56,312
80, the highest being 92 and the low est 68.
“
9
7,469 24,699 62,871 88,226 123,750 129,901 " 1,534 13,490 50,577
"
16
8,763 31,276 50,218 83,695 117,872 126.254
4,232 25,398 46,571
Union Springs, Alabama.— Cotton is blighting and shed­
ding and is three weeks late. It has rained here during the
The above statement shows: 1 .— That the total receipts week, with rainfall to the extent of one inch and forty hun­
from the plantations since Sept. 1 1906 are 9,676,770 bales; dredths and heavier and continuous in the vicinity. The
thermometer has ranged from 71 to 90, averaging 88.
in 1905-06 were 7,767,163 bales; in 1904-05 were 10.027,034
Augusta, Georgia.— W e have had rain on five days of the
bales.
week, the rainfall reaching one inch and seventy-nine
2 .— That although the receipts at the outports the pas* hundredths. The thermometer has averaged 79, the highest
week were 8,763 bales, the actual m ovem ent from planta^ being 88 and the lowest 70.
Savannah, Georgia.— There has been rain on six days the
tions was 4,231 bales, the balance being taken from past week to the extent o f one inch and thirty-eight hun­
stocks at interior towns. Last year receipts from tbe plan­ dredths. The thermometer has averaged 80, ranging from
tations for the week were 25,398 bales and for 190# they 70 to 90.
Charleston, South Carolina.— There has been rain on each
were 46,571 bales.
day during the week, the rainfall being tw o inches and seven
W E A T H E R R E P O R T S B Y T E L E G R A P H .— Our tele­ hundredths. The thermometer has ranged from 70 to 90,
graphic advices from the South this evening denote that as a averaging 80.
Charlotte, North Carolina.— There has been rain during
rule the weather has been fairly favorable during the week. the week to the extent of ninety-seven hundredths of an
In portions of Texas, however, and at a few points elsewhere inch. Average thermometer 77, highest 90, lowest 65.
lack of moisture is com plained of. Damage is claimed to
COTTON CR O P C IR C U L A R .— Our Annual Cotton Crop
have resulted in Texas as a result of extreme heat, drought
and boll-w eevils, bu t from the remainder o f the belt as a Review will be ready in circular form about Friday,
Sept. 6 . Parties desiring the circular in quantities, with
whole reports are more favorable.
Galveston, Texas.— The extreme heat, continued drought their business card printed thereon, should send in their
and boll-weevils are claimed to be damaging the Texas cotton orders as soon as possible to ensure early delivery.
crop seriously. W e have had rain on three days the past
week, the rainfall being sixty-six hundredths o f an inch.
F A L L R IV E R M ILL D IV ID E N D S .— The statement of
The thermometer has averaged 80, the highest being 88 and
dividends for the third quarter and nine months will be found
the lowest 72.
Corpus Christi, Texas.— There has been rain on one day on page 382.
of the past week, to the extent o f four hundredths of an inch.
The thermometer has averaged 82, ranging from 76 to 88.
JU TE B U TTS, B A G G IN G , &c.— The market for jute
Cuero, Texas.— There has been no rain during the week.
bagging has been inactive during the week.
Prices are
The thermometer has ranged from 74 to 100, averaging 87.
Dallas, Texas.— There has been no rain during the week. unchanged at 9 % c for 2 lbs., standard grades. Jute butts
Average thermometer 88, highest 104, lowest 72.
dull at 3 @ 4 c . for bagging quality.
Q U O TATIO N S F O 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 o f m iddling
cotton at Southern and other principal cotton m arkets for
each day of the week:




420

THE CHRONICLE.

W O R L D ’S SU P P L Y A N D T A K IN G S OF CO TTO N .—
The following brief but comprehensive statement indicates
at a glance the w orld’s supply o f cotton for the week and since
Sept. 1, for the last tw o seasons, from all sources from which
statistics are obtainable; also the takings, or am ount gone
out o f sight, for the like period.
1 9 0 6 -0 7 .

C o tto n T a k in g s .
W eek a n d S e a so n .

W eek .

S ea son .

W eek .

D ed u ct—V isib le s u p p ly A u g . 16 .

190 6-0 7.
October 1 to A u g u s t 1.
B a les o f 500 lbs. each.
00 0 s om itted.

___ __ 2 ,5 3 7 ,2 0 8

C o n s u m p tio n , 43 w e e k s . ____

G reat B rita in .

F o r 1 9 0 6 -0 7 .
T a k in g s b y sp in n e rs -----------bales
A v e ra g e w e ig h t o f b a le s . . . .lb s
F o r 1 9 0 5 -0 6 .
T a k in g s b y s p in n e rs _______ bales
A v e r a g e w e ig h t o f b a le s ____ lbs

C o n tin en t. (

3 ,5 3 1 ,0 0 0
5 ,6 3 9 ,0 0 0
9 ,1 7 0 ,0 0 0
500
478
48 6 .5
1 ,7 6 5 ,5 0 0 ,0 0 0 2 ,6 9 5 ,4 4 2 ,0 0 0 4 ,4 6 0 ,9 4 2 ,0 0 0
3 ,3 7 4 ,0 0 0
4 ,7 8 4 ,0 0 0
8 ,1 5 8 ,0 0 0
494
480
48 5 .8
1 ,6 6 6 ,8 5 6 ,0 0 0 2 ,2 9 6 ,3 2 0 ,0 0 0 3 ,9 6 3 ,1 7 6 ,0 0 0

A ccording to the above, the average weight of the deliv­
eries in Great Britain is 500 pounds per bale this season,
against 494 pounds during the same time last season. The
Continental deliveries averaged 478 pounds, against 480
pounds last year, and for the whole o f Europe the deliveries
average 486.5 pounds p e f'b a le , against 485.8 pounds last
season. Our dispatch also gives the full m ovem ent for this
year and last in bales of 500 pounds.
1906-07.
Oct. 1 to A u g u s t 1.
B a les of 500 lbs. each.

G reat C o n ti­
B ritain nent.

1605-06.
Great C on ti­
Total. B ritain nent.

Total.

S p in n er*’ s to c k O ct. 1 ________
T a k in g s in O c t o b e r ____

253
254

556
297

809
551

256
274

621
358

877

T o ta l s u p p l y . . ___________
C o n s u m p tio n O c t ., 4 w e e k s ..

507
296

853
420

1,360
716

530
296

979
404

1,500
700

S p in n ers ’ s t o c k N o v . 1 .............
T a k in g s in N o v e m b e r ____ __

211
391

433
503

644
894

234
365

575
442

809
807

T o t a l s u p u ly ________________
C o n s u m p tio n N o v ., 4 w e e k s ..

602
296

936
420

1,538
716

599
296

1,017
404

1,616
700

S p in n ers' s to c k D e c. 1 ________
T a k in g s in D e c e m b e r ____ _____

306
510

516
674

822
1,184

303
397

613

477

91*
874

T o t a l s u p p ly ________________
C o n s u m p tio n D e c ., 5 w e e k s ..

816
375

1,190
525

2,006
900

700
370

1,090
505

1,790
876

S p in n ers’ s t o c k Jan . 1 ________
T a k in g s in J a n u a ry . . _______

441
433

665
584

1,106
1,017

330
348

585

915
801

453

63if

T o ta l s u p p ly ________________
C o n s u m p tio n J a n ., 4 w e e k s . .

874
300

1,249
420

2,123
720

678
296

1.038
404

1,716
700

S p in n ers’ s to c k F e b . 1 ________
T a k in g s In F e b r u a r y ___ ______

574
396

829
689

1,403
1,085

382
362

634

470

1,01*
832

T o t a l s u p p ly ________________
C o n s u m p tio n F e b ., 4 w e e k s ..

970
304

1,518
420

2,488
724

744
296

S p in n ers ’ s to c k M arch 1 ______
T a k in g s In M a rch ______________

666
406

1,098
739

1,764
1,145

448
425

1,104

404
700
696

1,848
700

1,072
380

1,837
525

2,909
905

873
370

1,396
505

2,269
875

S p in n ers’ s to c k A p ril 1 ...............
T a k in g s In A p r il_______ _____ __

692
327

1,312
545

2,0 0 4
872

503
304

891
426

1,394
730

T o ta l s u p p ly ..............................
C o n s u m p tio n A p r il, 4 w e e k s ..

1,019
308

1,857
420

2,8 7 6
728

807
296

1,317
404

2,124
700

S p in n ers ’ s to c k M a y 1 ________
T a k in g s In M a y .......... . . . . .

711
347

1,437
569

2,148
916

511
380

913
500

1,424
880

T o t a l s u p p ly ______________ .
C o n s u m p tio n M a y , 5 w e e k s ___

1,058
385

2,0 0 6
525

3 ,0 6 4
910

891
370

1,413
505

2,304
875

S p in n ers’ s to c k Ju n e 1 ______ _
Takings in J u n e _______________

673
219

1,481
417

2,154
636

521
228

908
394

1.429

T o t a l s u p p ly ____ _____ ______
C o n s u m p tio n J u n e , 4 w e e k s ..

892
312

1,898
420

2,790
732

749
296

1,302
404

2,051
70Q

S p in n ers’ s to c k J u ly 1 ...............

Takings In J u l y . ______ __ ______

580
248

1,478
374

2,0 5 8
622

453
251

898
377

828
312

1,852
420

2,680
732

704
296

1,275
404

1,979
700

S p in n e r s’ s t o c k A u g u s t 1 ______

516

1,432

1,948

408

871

1,279

877
7,9 2 7

3,7 8 4
3 ,268

5,947
4 ,5 1 5

9,731
7,783

3,590
3,182

5,214
4,343

8 ,8 0 4
7 ,5 2 5

1,948

408

871

1,279

179
179
180
180
181
181
182
182
183
183

74
74
74
74
74
74
74
74
74
74

101
101
101
101
101
101
101
101
101
101

175
175
175
175
175
175
175
175
175
175

105
105
105
105
105
105
105
105
105
105

JU TE C R O P OF B E N G A L, E A S T E R N B E N G A L A N D
A SSAM .— Preliminary Forecast Season 1907.— Under date
of Calcutta, July 18, the Departm ent o f Agriculture issued
the preliminary forecast o f the jute crop of Bengal, & c., for
the season of 1907, which was in part as follows:
B en g a l.— T h e to ta l area so w n th is y e a r Is at p resen t estim a ted t o b e
9 3 2 .5 0 0 a cre s, as c o m p a r e d w ith 7 8 0 ,4 0 0 acres In 1 9 0 6 ,as e stim a ted In t h e
final fo re c a s t o f th a t y e a r .
C ertain d is tric t o ffic e r s h a v e n o w revised th e
figures fo r last y e a r , and a c c o r d in g t o th is r e v isio n th e area s o w n last y e a r
w o u ld a m o u n t t o 8 58 ,500 acres, b u t I h a ve retain ed th e figu res sh ow n last
y e a r t o a v o id c o n fu s io n .
S ow in gs are r e p o rte d t o be still g o in g o n i n
B h a g a lp u r an d in p a rts o f M ld n a p o r e , b u t t h e y h a v e b e e n c o m p le te d In
th e rest o f th e P r o v in c e .
T h e e x te n s io n o f c u ltiv a t io n Is re p o r te d t o b e d u e
c h ie fly t o th e high p rice s o b ta in e d last y e a r and p a r t ly t o th e fa v o r a b le
w e a th e r at s o w in g t im e . T h e p re se n t c o n d it io n o f th e c r o p Is re p o r te d t o
b e g o o d in te n d istricts In clu d in g th e im p o rta n t d is tricts o f P u rn ea , J essore,
M u rsh ld abad an d N a d ia , and fair in th e re m a in in g d is tric ts e x c e p t in p arts
o f H o o g h ly , H o w r a h an d Jesso re , w h ere d a m a g e has b e e n d o n e b y e x c e s s iv e
r ain .
P r o s p e c ts at th e p resen t tim e are b e t t e r th is y e a r o n th e w h o le th a n
last y e a r.
E a stern B eng al and A s s a m .— I t is o n ly n a tu ra l th a t th e e x tr a o r d in a r ily
h igh p rices o f ju te in 1906 s h o u ld h a v e led t o a co n s id era b le Increase In
c u ltiv a tio n th is y e a r .
It is, th e r e fo r e , n o m a tte r fo r surprise th a t th e area
u n d e r ju t e in th is p r o v in c e is n o w e s tim a te d t o b e 2 ,9 2 7 ,0 0 0 a cres, as
c o m p a r e d w ith 2 ,6 6 4 ,9 0 0 acres last y e a r . T h e Increase o f 9 .8 % is, h o w e v e r ,
m u c h less th a n w o u ld h a v e be e n a n tic ip a te d b u t fo r th e e x c e e d in g ly high
ran ge o f p rice s o f rice w h ich h a v e been p re v a ilin g e v e r sin ce th e p a rtia l
failure o f th e w in te r rice c r o p o f 1905 06. T h e w e a th e r c o n d itio n s p r e v a il­
in g at th e tim e o f s o w in g w ere also d is tin c tly fa v o r a b le t o a general in crea se
In th e a m o u n t o f land p u t u n d e r ju te th is y e a r.
T h e p resen t p r o s p e c ts
o f th e c r o p are r e p o rte d t o be s lig h tly w o rse th a n last y e a r In T lp p e r a ,
B a ck e rg a n j, R a js h a h l, N o a k h a ll an d K u m ru p .
P ro s p e c ts In M y m e n sh in g ,
R a n g p u r , P a b n a , D ln a jp u r , J a lp a lg u rl, M alda an d G o a lp a ra . all o f w h ich
are great ju t e -p r o d u c in g d is tric ts , are b e tte r th a n last y e a r .
O n th e w h o le ,
p resen t c o n d itio n s In d icate th e p r o b a b ilitie s o f a s o m e w h a t larger o u t-tu rn
p e r acre fo r th e p r o v in c e th a n In 1906.
H a r v e s tin g is a lrea d y in p rog ress in
m a n y d is tric ts .
T h o u g h th ere is v e r y little o f last y e a r ’s cr o p rem a in in g
in o th e r p a rts o f th e p r o v in c e , a fa ir ly large a m o u n t is still re p o r te d t o be
held in D a c c a D is tr ic t and th e to t a l a m o u n t o f o ld ju t e in th e p r o v in c e is
b e lie v e d t o b e m o re th a n usual at th is tim e o f th e y e a r .
T a k in g th e t w o
p r o v in c e s to g e th e r , th e area sow n w ith ju t e th is y e a r is c a lcu la te d t o b e
3 .8 5 9 .5 0 0 acres as a g ain st 3 ,5 2 3 ,2 0 0 acres In 1906.
T h e Increase a m o u n ts
t o 9.5 % .

IN D IA COTTON M OVEM ENT FRO M A L L P O R T S .—
The receipts of cotton at Bom bay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
190 4-0 5.

A u g u s t 15.
I

R eceip ts at—
W eek .
B om bay.

S in c e
S ep t. 1.

I
W eek , j S ep t. 1.

1 6,0 0 0 3 ,0 4 6 ,0 0 0

8,0 0 0 2 ,5 5 4 ,0 0 0

F o r the W eek .
E x p o rts fro m —

C o n ti­
G reat
B ritain . n ent.

B om bay—
1 9 0 6 -0 7___________

W eek .

S in ce
S e p t. 1.

9,0 0 0 i2 ,6 8 4 ,0 0 0

S in c e Septem ber 1.

T otal.

G reat
B rita in .

C o n ti­
nen t.

T otal.

1,351

T o t a l s u p p ly ________________
C o n s u m p tio n , 4 w e e k s ________

621
4,593

The foregoing shows that the weekly consum ption is now
183.000 bales of 500 pounds each, against 175,000 bales o f
like weights at the corresponding time last year. The total
spinners’ stocks in Great Britain and on the Continent have
decreased 110,000 bales during the month and are now
669.000 bales more than at the same time last season.

1,148
1,121

T o ta l s u p p ly ____________
C o n s u m p tio n , M arch , 5 w eek s

256
3,334

74
74
75
75
76
76
77
77
78
78

1 ,9 7 2 ,0 2 4

T otal.

809
8 .9 22

W e ek ly C o n su m p tio n .
00 0 s om itted.

2 3 7 .0 4 7 15 ,8 5 8 ,8 0 6
167 .0 4 7 1 1 ,7 0 5 ,2 0 6
7 0 ,0 0 0 4 ,1 5 3 ,6 0 0

E U R O P E A N COTTON CONSUM PTION TO AU G U ST 1.
— B y cable to-da y we have Mr. Ellison’ s cotton figures
brought down to August 1. W e 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:

556
5,391

516 ,1 ,4 3 2

.

a E m b r a c e s r e c e ip ts In E u ro p e fr o m B r a z il, S m y r n a , W e s t I n d ie s , & c.

O ctober 1 to A u g u s t 1.

T ota l.

253
3,531

S ea son

2 ,5 3 7 ,2 0 8 1 ,9 7 2 ,0 2 4

250 ,3 2 6 17 ,4 9 >,282
1 45,226 1 2 ,7 8 6 ,3 8 2
1 05,100 4 ,7 0 5 ,9 0 0

.

190 5-0 6.

Great C o n ti­
Great C o n ti­
B rita in nent. Total. B ritain n ent.

______ 2 ,7 8 7 ,5 3 4 2 0 ,0 2 9 ,4 0 0 2 ,2 0 9 ,0 7 1 1 7 ,8 3 0 ,8 3 0

T o t a l ta k in g s t o A u g . 1 6 _______
O f w h ic h A m e r i c a n ___ ______
O f w h ic h o t h e r __________

lxxxv

The comparison with last year is made more striking by
bringing together the above totals and adding the average
weekly consum ption up to this time for the tw o years.

1 90 5-0 6.

V is ib le supp ly A u g . 9 ___ __
2 ,6 8 3 ,1 6 8
2,1 0 8 ,1 7 9
V is ib le s u p p ly S e p t. 1 ___________
1,784*156
2,545",470
A m e r ic a n in sigh t t o A u g . 1 6 ___
~ 52",266 1 3 ,3 9 6 ,4 3 4
” 76~892 1 1 ,0 5 9 ,7 6 0
B o m b a y rece ip ts t o A u g . 1 5 ____
16,000 3 ,0 4 6 ,0 0 0
8,0 0 0 2,5 5 4 ,0 0 0
O th er I n d ia sh ip ’ts t o A u g . 1 5 . .
29,000
4 7 3 .0 0 0
11,000
383 .000
A le x a n d r ia r e c e ip ts to A u g . 1 4 ._
100
914 ,900
7 8 3 ,6 0 0
O th er s u p p ly t o A u g . 1 4 . a ______
41 5 .0 0 0
7,0 0 0
’ 5~66o
5 05 .000
T o t a l s u p p ly __________

[V o l .




622

628

63,000 1 ,1 8 0 ,0 0 0 1,2 4 3 ,0 0 0
57,0 0 0
878 ,0 0 0
935 ,000
22,000
456 ,0 0 0
4 7 8 ,0 0 0

12,000
4,0 0 0
12,000

12,000
4,0 0 0
12,000

3,000
3,000
4,0 0 0

3,000
3 ,0 0 0
4 ,0 0 0

9,0 0 0
7,000
3,0 0 0

149,000
117,000
47,000

158 ,000
124,000
5 0 ,0 0 0

C a lc u tta —

M ad ras—
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 . --------------1 9 0 4 -0 5 ___________
A ll o th e rs —
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ___________

1,000

7,0 0 0
1,000
2,0 0 0

7,000
1,000
2,0 0 0

6,0 0 0
3,000
4 ,0 0 0

4 4 ,000
50,000
17,0 0 0

50,0 0 0
53.0 0 0
2 1 ,0 0 0

3 ,0 0 0
1,000
1,000

16,000
6,000
5,0 0 0

1 9,000
7,0 0 0
6,0 0 0

18,000
23 ,000
14,000

2 47 ,000
183,000
2 41 .000

265 ,0 0 0
2 0 6 ,0 0 0
255 ,0 0 0

T o ta l a ll—
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ....................

3 ,0 0 0
1,000
2,000

3 8 ,000
14,000
2 3 ,000

4 1 ,0 0 0
15,000
2 5 ,000

96 ,000 1 ,6 2 0 ,0 0 0 1 ,7 1 6 ,0 0 0
90 ,000 1 ,2 2 8 ,0 0 0 1 ,3 1 8 ,0 0 0
76 1 ,0 0 0
804 ,0 0 0
43 ,000

_
_

A ccording to the foregoing, B om bay appears to show an
increase compared with last year in the w eek’s receipts of
8.000 bales. Exports from all India ports record a gain of
26.000 bales during the week and since S ep t.Jl show an
increase of 398,000 bales.

A L E X A N D R IA , R E C E IP T S A N D SH IPM EN TS OF
CO 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, E gypt. The follow ing are the receipts and
shipments for the past week and for the corresponding week
of the previous tw o years:
A le x a n d r ia , E g y p t,
A u g u s t 14.

190 6-0 7.

190 5-0 6.

1 90 4-0 5.

300
6,8 6 1 ,3 8 1

200
5 ,8 7 6 ,7 5 2

6 ,2 3 2 ,2 9 5

T h is
S in ce
w eek. S ep t. 1.

T h is
S in ce
w eek. S ep t. 1.

S in ce
T h is
w eek. S ep t. 1.

1.750 222 ,598
207 ,784
1.750 353 ,779
600 118,728

____ 203 ,877
1,5 0 0 175,677
600 335,007
____ 7 0 ,127

1,000 2 34 ,328
156 ,250
s 'o o o 3 48 ,959
1,000 79,4 4 5

4,1 0 0 902 ,889

2,1 0 0 784 ,6 8 8

7,0 0 0 8 18 ,982

R eceip ts (ca ntars) —

J u ly 26.
Sales o f th e w e e k _______ bales . 4 3 ,0 0 0
O f w h ich s p e cu la to rs t o o k . .
1,000
O f w h ich e x p o r te r s t o o k ___ .
1,000
36 ,000
S a le s , A m e r ic a n .
A c t u a l e x p o r t _______ ______ __ . 10,000
58,000
F o r w a r d e d _________ . ______
T o t a l s t o c k — E s t im a t e d - . . .9 6 7 ,0 0 0
O f w h ich A m e r ic a n — E s t . -8 3 8 ,0 0 0
T o t a l Im p o rt o f th e w eek _ . . 13,000
. .6 ,0 0 0
O f w h ich A m e r i c a n ___
A m o u n t a flo a t ___ ______ __ . . . 3 7 ,000
O f w h ich A m e r i c a n ______
10,000

L iv e r p o o l_______ ______
M a n c h e s t e r ___________
C on tin e n t ___ _______
A m e r i c a .. . . _______

T ota l e x p orts

___

N o te .— A c a n ta r Is 99 lb s .

E g y p tia n bales w e ig h a b o u t 750 lb s .

This statement shows that the receipts for the week w ere
300 can tars and the foreign shipm ents 4,100 bales.
M AN CH ESTER M A R K E T .— Our report received b y
cable to-night from Manchester states that the market
is quiet for both yarns and shirtings. Stocks of b o th
goods and yarns are accum ulating.
We
give
th e
prices for to-day below and leave those for previous w eek8
of this and last year for comparison.
1907.
32* Cop.
Twist.
July
5
12
19
26
Aug
2
9
16

d.
11 1-16@
11
@
10H
@
10%
@

d.
12H
12K
12J*
12H

1906.

8Ji lbs. Shirt­ Cot'n
ings, common Mid.
to finest.
U pl’s
s. d.
6 11
6 10
6 9
6 9

10%
@ 12^ 6
1015 16-12 5-16 6
10 %
@
123-g 6

9
9
8

s.
@10
@10
@10
@ 10

d.
3
3
3
4

@ 10 4 Y
@ 10 5
@ 10 4H

d. Id.
7.31 9>i
7.18 9 5-16
7.06I9H
7.16I9H

@
@
@
@

d.
10H
10V*
105^
10 H

Cot'n
Mid.
U pl’s

8H lbs. Shirt­
ings, common
to finest.

32* Cop.
Twist.

<*99
@9
@9
@9

s. d.
9
9
9
9

d.
6.08
6.12
6.07
6.03

7y» @ 9
7 @9
6 @9

SH
8
7

5.98
5.68
5.51

s. d.
6 8
6 8
6 8
6 8

7.28(9 5-16 @ 105 6
4
7.40i9K
@ 109 -16 6
7.29 9H
®
10H 6

SH IPPIN G N E W S .— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 7,649 bales.
The shipments’ in detail, as made up
from mail and telegraphic returns, are as follows:
Total b a les■
N E W Y O R K — T o L iv e r p o o l— Aug-. 12— C a rm an la, 73 fo r e ig n ____
V ic t o r ia n , 156 fo re ig n — A u g . 14— C e d ric, 262 f o r e ig n ___________ 491
T o H a v r e — A u g . 9— S t. L a u r e n t, 345— A u g . 14— L a B r e t a g n e ,101 446
T o B rem en — A u g . 14— B a rb a ro ssa , 9 7 6 ____________________________
976
T o A n tw e r p — A u g . 9— K r o o n la n d . 2 3 5 _____________________________
235
T o B a rce lo n a — A u g . 9— P r o v ln c la , 877— A u g . 15— L o v s ta k k e n ,
2 2 5 ......................... .......................... ................................. ................ ..................... 1,102
T o G en oa— A u g . 12— H a m b u r g , 6 8 8 ________________________________
688
T o Y a r m o u t h — A u g . 2— P r o t A r th u r , 2 8 ___________________________
28
N E W O R L E A N S — T o B re m e n — A u g . 10— M ich ig a n , 2 ,7 9 0 ___________ 2,790
T o A n tw e r p — A u g . 10— M iclh g a n , 6 0 0 _____________________________
600
S A V A N N A H — T o L iv e r p o o l— A u g .
— 90 u p la n d , 23 Sea I s la n d ____
113
B O S T O N — T o L iv e r p o o l— A u g . 9— M ich ig a n , 42— A u g . 12— S ylv a n la , 23— A u g . 13— C y m r ic , 1 4 _________________________________
79
T o G en oa — A u g . 9— C a n o p ic, 1 _____________________________________
1
T o S t. J o h n — A u g . 12— Y a le , 1 0 0 ___________________________________ 100
T o t a l ..............................................................................................................................7 ,6 4 9

The particulars of the foregoing shipments for the week,
arranged in our usual form , are as follows:

A u g . 2.
31,0 0 0
1,400
600
2 7 ,0 0 0
5,0 0 0
4 7 ,0 0 0
9 28 ,000
802 ,000
13,000
6,000
4 1 ,0 0 0
14,000

A u g . 9.
37,0 0 0
1,000
1,000
31,0 0 0
3,0 0 0
5 8 ,0 0 0
8 7 8 ,0 0 0
7 6 1 ,0 0 0
1 2 ,000
5,0 0 0
4 5 ,0 0 0
12,0 0 0

A u g . 16.
3 7 ,0 0 0
1,0 0 0
2,0 0 0
2 9 ,0 0 0
6,0 0 0
4 6 ,0 0 0
8 5 4 ,0 0 0
7 2 7 ,0 0 0
2 9 ,0 0 0
10,0 0 0
3 4 ,0 0 0
6,0 0 0

The tone of the Liverpool market for spots and future s
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.

E x p o rt (b a le s )—
To
To
To
To

421

THE CHRONICLE.

AUG. 17 1 9 0 7 .]

Market
12:15
P . M.

Saturday.
1
}
■
J

M onday.

Tuesday.

W ed’day.

Thursday.

F rid a y .

Q uiet.

Moderate
dem and.

Small
Inquiry.

More
dem and.

Moderate
demand.

Quiet.

M ld .U pl’ ds

7.41

7.43

7.30

7.38

7.27

7.29

S a le s_____
Spec.& exp.

5,000
300

7,000
500

5,000
300

10,000
500

7,000
500

6,000
500

Futures.
Quiet
Steady at
Market
\ unch. to 1 2 @ 3 pts.
opened
[ p t. adv.
decline.

Quiet at
4 points
decline.

Steady at
4 Y Pts.
advance.

Market
4
P . M.

Quiet at
pts. dec.

Quiet at
2 @ 5 pts.
advance.

1 Quiet at Y Barely st’ y
>pt. dec. to at 6 @ 7
■
J1
p . adv. pts. dec.

Q uiet at
2 @ 6 pts.
decline.

Steady at
4 ^ @5
pts. adv.

B ’ ly st’y at B l’ y st’ y at
10@ 11
@4
pts. dec.
pts. adv.

The prices of futures at Liverpool for. each day are given
below. Prices are on the basis of uplands, good ordinary
clause, unless otherwise stated.
The p rices are g iven in pen ce and 100 ths.
S at.
A u g . 10
to
A u g . 16.

12 H
p .m .
d.

7
6
6
6
6
6
Jan .- F e b .
6
6
F e b .-M c h .
M e h .-A p r . ____ 6
A p r.-M a y .
6
6
M a y-J u n e
J u n e -J u ly
A u gust A u g .- S e p .
S e p t .-O c t.
O c t .-N o v .
N o v .-D e c .

---

M on.

T h u s: 7 05 m eans 7 5-1 OOd.

T u es.

W ed.

T h u rs.

F ri.

4
4
4
4
12<4
12M
12 X
12 Ji
12M
4
p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m .

12 H
p .m .
d.
05
93
81J4
77
74
73
72
73
74
75
76

d.
05
93
81
76
73
72
71
72
73
74
75

d.
99
87
75
70
67
66
65
66
67
68
69

d.
91 V,
79 V
*
66
60 Vi
57 V*
56
55 'X
56
57
58
59

d.
91 V
>
82 H
67 14
63 V)
60
59
58
58 H
59 Y
>
60 V?
61 H

d.
00
88
73
681^
65 V
-,
64 \i
63 V,
64
65
66
67

d.
d.
d.
96 V, 89
86 Vf
84 >4 77
74 V
S
69 V> 81
*
58 H
65 Vj 57 H 54 V,
<
62
54 VJ 51 U,
<
61
53 V 50 Yi
£
60
52 \4 49 '4
60 14 53
50
51
61 V 54
-t
52
62 V, 55
6 3 ^ 56
53

d.
91
79
62 Y
59
56
55
54
54 H
55 Vi
56 V«
57 Yi

d.
90
78
61^
58
55
54
53
54
55
56
57

BREADSTUFFS.
Friday, August 16 1907.
Prices for wheat flour have declined on m any grades,
owing to the break in wheat quotations and the favorable
crop reports. In the local market business has been at a
com plete standstill much of the tim e. A t some of the large
centres of the Northwest and the Southwest, how ever, an
im provem ent in trade has occurred. St. Louis has reported
an active export business at times. A t Minneapolis dom estic
buyers have shown increased interest, and some mills have
noted larger sales. But for the interruption of telegraphic
com m unication, a still larger business would probably have
been transacted. R ye flour has been quiet and easier.
Corn meal has been quiet and steady.

W heat, largely under the influence of violent breaks in
the stock market, has declined. Besides, the weather has
been good at the W est and the telegraphers’ strike has inter­
fered with the speculation. Quotations from the W est have
T o t a l ...............
683
446
3,7 6 6
835 1,791
128 ______
7,6 4 9 been received regularly enough, but statistical inform ation
The exports to Japan since Sept. I have been 222,822 bales has been incom plete ever since the strike was declared,
from Pacific ports, 10,000 bales from Galveston and 4,642 thereby keeping the trade m ore or less in the dark as to the
crop m ovem ent. Also, the official Russian crop report has
bales from New Y ork .
Cotton freights at New Y ork the past week have been as been favorable, artd, as near as can be gathered, conditions
in both our winter-wheat and spring-wheat regions have
follows, quotations being in cents per 100 lbs.:
S a t.
M on.
T u es.
W ed.
T h u rs.
F ri.
been promising. That which has acted as a brake on the
L iv e r p o o l ............... C.
17
17
17
17
17
17
M a n ch ester ______c.
16
16
16
16
16
16
decline has been the sudden springing up of a large export
H a v re ___________ c. aZ5
a 25
a25
o25
a2 5
a2 5
dem and, some estim atesjputting the sales since last Satur­
B r e m e n ___________ c.
18
18
18
18
18
18
H a m b u r g ............. _c.
18
18
18
18
18
18
day at New Y ork, Chicago and the Gulf ports at 3,500,000
A n tw e r p ..................c.
20
20
20
20
20
20
G h en t, v ia A n t . . . c .
26
26
26
26
26
26
bushels. Besides, something like 100,000 barrels of Kansas
R e v a l, I n d ir e ct ___ c.
28
28
28
28
28
28
R e v a l, v ia C a n a L .c .
flour have been sold for export. The purchases have been
B a r c e l o n a ................c 25 @ 3 0
25 @ 3 0 25 @ 3 0 25 @ 3 0
25 @ 3 0
25 @ 3 0
G e n o a .......................c.
18
18
18
18
18
18
arge, both of new-crop hard wheat and also o f soft winter
T ries te .................... c.
32
32
32
32
32
32
J a p a n .......................c.
45
45
45
45
45
45
wheat. The W all Street break therefore, as an illustration
of the old saying that it is an ill wind that blows n obod y
a And 5 %.
good , has had the effect of forcing down wheat prices to an
L IV E R P O O L .— By cable from Liverpool we have the fol­ export basis for the first time in a long period. Meantime,
lowing statement of the w eek’s sales, stocks, & c., at that too, European markets have shown greater firmness than
port:
those of this side of the water. The Argentine crop news has
Greqt F ren ch Ger- — O th .E u rop e— M e x .,
B rita in ,
p orts, m a n y. N orth . Sou th. & c. J a p a n .
N ew Y o r k ..........
491
446
976
235 1,790
28 ______
N ew O rlea n s ................ .
.........
2 ,7 9 0
600
......... ......................
S a v a n n a h ______
113
____
____
____
____
____
____
B o s t o n ..................
79
......................................... 1
100 ____________




Total.
3,966
3,3 9 0
113
180

THE CHRONICLE.

[Vol..

LXXXV.

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 .—
been less favorable, and, judging from the tone of both
English and Continental markets of late, there would seem Mr. James Berry, Chief of the Climate and Crop Division of
to be some apprehension of a rather large decrease in the the United States W eather Bureau, made public on Tuesday
w orld’s crop of wheat this season, or something like 400,000,- the telegraphic reports on the weather in the various States
000 bushels, according to some of the estimates. T o-day for the week ending Aug. 12, summarizing them as follows:
prices advanced early, owing to better cables than had been
T e m p e ra tu re s s lig h tly In e x ce ss o f th e season al n o rm a l p r e v a ile d in t h e
L a k e re g io n , ce n tr a l v a lle y s a n d N e w E n g la n d .
T h e n o rth e rn p o r t io n o f
expected, reports of damage from black rust at the North­ th e ce n tra l G u lf S tates a n d an area e x te n d in g fro m c e n tra l T e x a s n o r t h ­
w a rd t o eastern K an sas a n d sou th w e ste rn M issouri e x p e r ie n c e d a b n o rm a l
west, especially in North Dakota where damage from hail h e a t. T h e w e a th e r w as d e c id e d ly c o o l in th e ce n tr a l a n d n o rth e rn P la tea u
n
rn
cen
l
d
r th r n C a
rn ia a
was also reported, covering of shorts and scattered buying re g iote s, pthre ea stere g op o r tio n s o fs h in gtr an . a nT hn o te mep e r a tulifo w as , b u n dlitth>gre a r a t o f O
n and W a
to
e
re
t
t le
for long account. Later on, however, a reaction took place, a b o v e fre e z in g in n o r th e r n N e v a d a o n th e 1 0 th , a n d s o m e lig h t frosts o c ­
cu r r e d in I d a h o a n d W y o m in g . T h e rain fa ll w as a m p le in th e lo w e r
owing to liquidation and the fact that the export demand M issou ri, u p p e r M ississippi a n d lo w e r O h io v a lle y s a n d o v e r th e g r e a te r
p a r t o f th e S o u th A t la n t ic a n d east G u lf S ta te s , b u t it w as in s u ffic ie n t o v e r
showed a falling off. The weather was favorable in the m ain . m o s t o f N e w E n g la n d a n d th e lo w e r L a k e r e g io n , a n d In p o r tio n s o f N o rth
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN N E W Y O R K .
S a t. M o n . T u es. W ed .
N o . 2 red w in te r ____________________ 9 4 %
91
92%
92%
92%
93%
94
S e p te m b e r d e liv e r y in e le v a t o r ____ 9 6 %
D e c e m b e r d e liv e r y in e le v a t o r ______1 0 0 %
96%
97 %
98
M a y d e liv e r y In e le v a t o r ___________ 1 0 3 % 1 0 0 % 1 0 0 % 1 0 2 %

T h u rs.
F r i.
92 %
9 2%
93%
93%
98%
97%
102% 102%

D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN C H I C A G O .
S a t.
S e p te m b e r d e liv e r y in e le v a t o r ______8 7 %
D e c e m b e r d e liv e r y In e l e v a t o r ! ______9 1 %
M a y d e liv e ry In e le v a to r ____________ 9 7 %

M on.
83%
88%
94%

T u es .
84%
89%
95%

W e d . T h urs.
85%
85%
90%
90%
96%
96%

F ri.
85%
90%
96%

Indian c o m futures have fluctuated within m oderate
liftuts. In the main the m arket has been easier, owing
principally to the break in wheat. This has led to scattered
liquidation and more or less short selling, especially as the
weather has been favorable as a rule and the cash business
has been of small proportions. Y et aggressive selling has been
held in check b y the firmness of oats. The receipts, m ore­
over, have fallen off, and some unfavorable crop advices
have been received from the Southwest, where extrem ely
high temperatures have prevailed at times. T o-day prices
advanced early, owing to the rise in w heat, covering of shorts
on unfavorable crop reports from the Southwest and buying
b y shippers. Later on liquidation caused a reaction.
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N IN N E W Y O R K .
S a t. M o n .
62%
C ash c o m _____________________________ 6 2 %
S e p te m b e r d e liv e r y In e le v a t o r ______6 3 % ' 6 3 %
D e ce m b e r d e liv e ry In e le v a to r _______ 6 1 %
61%
D A IL Y

T u es.
62%
62%
60

W ed . T h u rs.
62
61%
62%
62%
60%
61%

C L O S IN G P R I C E S O F C O R N F U T U R E S IN

S a t.
S e p te m b e r d e liv e ry In e le v a t o r ______5 4 %
D e ce m b e r d e liv e r y in e le v a t o r _______ 5 1 %
M a y d e liv e r y in e le v a t o r ____________ 5 3 %

M on.
54%
51%
53%

T u es.
53%
51%
52%

F r i.
62
63
61%

C H IC A G O .

W ed . T h u rs.
54 %
54%
51%
51%
52%
53%

F ri
54%
51%
52%

Oats have sympathized to some extent at times with
the sharp decline in wheat quotations, but in the main the
tone of the m arket has been firm, owing principallv to the
unfavorable tenor of the bulk of the crop reports. It is in ­
sisted that the oats are of light weight. The speculation has
been active and at times excited. Bull leaders at the W est
have given support and commission houses have been free
buyers. Large receipts are expected shortly, but it is pre­
dicted by some that the demand will be equal to the su p p ly .
The sharp decline in the stock market led to heavy liquida­
tion at one tim e, but the offerings were taken very well.
T o-day prices fluctuated with the rest of the list, advancing
early and reacting later. Many bad crop reports were re­
ceived, but they were offset b y general realizing.
D A IL Y

C L O S IN G

P R IC E S O F O A T S IN

NEW

D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D O A T S IN C H IC AG O .
M on.
43%
42%
44

T u es.
43%
42- 3 - 44%

W ed . T h urs.
44 %
45 %
43%
43%
44 %
45 %

F r i.
45%
44
45%

The follow ing are closing quotations:
FLOU R.
L o w g r a d e s --------------------- $3 2 5 @ $ 3 40 I K a n sa s s tr a ig h ts _______ $4 1 0 @ $ 4 30
S e c o n d cle a rs ___________ 2 9 0 ® 3 1 0 1K a n sa s c le a rs ___________ 3 30 @ 3 70
C l e a r s ___________________ 3 7 5 @ 4 10 |B le n d e d p a t e n t s _______ 5 20 @ 5 70
S tr a ig h ts ________________ 4 0 0 @ 4 25 R y e flo u r ________________ 4 4 5 @ 5 15
P a te n t, s p r in g __________ 4 8 5 @ 5 75 B u ck w h e a t flo u r ----------- N o m in a l.
P a te n t, w in te r __________ 4 4 0 @ 4 65 G ra h am flo u r ___________ N o m in a l.
K a n sa s p a te n ts ............ .
.......©
____ C o m m e a l _______________ 3 2 5 @ 3 40
G R A IN .
W h e a t , p e r b u s h .—
c.
I C o r n , p e r b u s h .—
c.
N . D u liith , N o . 1 ____ ________1 0 4 % I N o . 2 m i x e d ___________ f . o . b . 62
N . D u lu th , N o . 2 . . . . f .o . b .. l 0 3 % | N o . 2 y e llo w , n e w ____ f .o . b .6 1 %
R e d w in te r , N o . 2 ___ . f . o . b . 9 2 % I N o . 2 w h it e , n e w ______ f .o .b .6 2
H ard
"
. f . o . b . 93 % I R y e , p e r b u s h .—
O a ts — p e r b u s h .—
I N o . 2 W e s t e r n __________
84084%
N o . 2 w h it e __________ .6 1
@ 62
S ta te an d J e r s e y ____ y . N o m in a l.
N o . 2 m i x e d _________
59
i Qftfltw— W e s t e r n ________ N o m in a l.
N o . 2 w h ite , c li p p e d - . 6 1 % @ 6 2 % [ - F e e d i n g ________________ N o m in a l.




The statement of the m ovem ent of breadstuffs to m arket as
indicated below are prepared by us from figures collected b y
the New Y ork Produce Exchange. The receipts at W estern
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years have been:
Receipts at—

Wheat.

Flour.

Barley.

Qats.

Corn.

Rye.

bbls.im bs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. btishASlbs. bu. 56 lbs.
37.400
33,400
734,670
145,687
1,710,600
1,341,920
C h ica g o ____
38.400
17,100
51,300
172.000
80,000
120,000
M ilw aukee..
4,554
56,732
12,959
D u lu th ..
100,500
620.000
69,427
16,220
81,620
10,180
848,460
147,410
Minneapolis.
2,000
58,500
570.000
26,900
67,594
53,400
D etroit_____
41,000
5,000
Cleveland_
_
32,443
59,936
71,065
1,430
4.000
1,191,670
433,850
St. Louis___
437,100
44,055
333,300
14,000
100.000
3.000
P e o r ia _____
234,000
16,500
1,855.000
274,000
96,800
Kansas C ity.
T o t.w k .’07
Same wk. ’06
Same w k. ’05

364,472
431,105
273,331

7,167,767
6,441,511
5,761,126

2,729,485
2,089,684
3,186,513

1,978,372
5,355,946
6,662,023

156,712
390,163
262,166

80,274
79,443
121,647

Since A ug. 1
1907_____
1906_____
1905_____

753,095
824,244
637,098

12,837,376
15,339,477
12,602,115

5,180,828
4,624,062
6,122,651

3,718,915
9,481,219
12,973,363

362,649
852,128
620,834

129,828
176,426
222,196

Total receipts of flour and grain at the seaboard ports for
the week ended A ug. 10 1907 follow:
Receipts at—
New Y o rk _________
B o s t o n ___________
Portland__________
P h ilad elp h ia_____
Baltim ore_________
Richm ond ..............
Newport News____
New O rle a n s .a ___
Galveston_________
N o rfo lk ...................
M o n tre a l_________
Mobile ....................
Total week.........
W eek 1906 ..............

F lour,
bbls.
101,625

31,445

214
63,075
48,685
3,600
4,999
12,584
______
6,036

21,813

Wheat,
bush.
856,600
174,756
237,969
534,447
317,439
56,882

Oats,
bush.
235,500
57,831

43,999
88,236
52,018
42,858
78,500
5,000

70,014
59,952
62,062

558,360

160,309
13,486

61,339

4,695

2,761,453
3,938,155

991,359
536,599

618,698
1,057,841

63,995

25,000

3,900
297,976
369,066

Barley,
bush.
58,400
900

C om ,
bush.
363,025
141,928

R ye,
bush.
7,800
900

72,000

7,322

a Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan. 1 to Aug. 10 com pare as
follows for four years:
Receipts of—
1907.
F lo u r ................................. bbls. 11,447,345

1906.
9,755,127

1905.
6.228,331

W heat............................. .b u sh . 55,839,323
Corn
............................... 69,094,202
Oats" .......................................... 33,716,304
B a r l e y .................. ............ ........ 3,152,326
R y e _________________________
1,266,348

48,928,907
72,117,488
47,125,359
7,516,020
856,006

16,148,451
67,266,777
28,816,041
4,553,313
218,939

Total grain............................. 163,068,503

176,543.780

117,003,521

1904.
11,001,452
27,969,483
35,517,073
26,003,761
1,847,780
530,192
91,868.289

The exports from the several seaboard ports for the week
ending Aug. 10 1907 are shown in the annexed statement:

YORK.

S a t.
M on.
T u es.
W ed .
T h urs.
F r i.
56
56
M ix e d , 26 t o 32 l b s - . .
59
58
59
58%
W h it e c lip p e d , 36 to
38 l b s ........ ............5 9 -6 0 % 5 9 -6 0 % 5 9 % -6 1 5 9 % -6 1 5 7 -6 1 % 6 1 % - 6 2 %

S a t.
S e p te m b e r d e liv e ry In e l e v a t o r . .
44%
D e ce m b e r d e liv e ry In e le v a to r _______ 42
M a y d e liv e r y in e le v a t o r ____________ 44

D a k o ta , I n d ia n a , T en n essee a n d th e c e n tr a l G u lf S ta te s.
D ro u g h t, m o r e
o r less se rio u s, p re v a ils in T e x a s . O k la h o m a a n d n e a rly a ll o f A r k a n s a s ,
w h ere p r a c t ic a lly n o rain fe ll. T h e re w as an a b n o rm a lly h e a v y r a in fa ll
o n th e n o r th e r n C a lifo rn ia c o a s t , n e a rly 3 in ch e s o f rain fa llin g at E u rek a .
T h e re w e re v e r y fe w lo c a l s to r m s , a n d t h o s e r e p o r te d w e re m o s t ly in th e
M id d le A t la n t ic S ta te s a n d o c c u r r e d o n th e 9 th .
T h e re w a s less th a n th e
usual sun sh in e in p o r tio n s o f th e M id d le , S o u th A t la n t ic a n d E a st G u lf
S ta te s , in N e w M e x ic o , a n d o n th e N o r t h P a cific co a s t; elsew here it w as
n o r m a l, o r a b o v e .

Wheat,
Exports from—
bush.
New Y o r k . . ......... ..342,757
B o s t o n ___________409,811
P ortland................ ..237,969
P h ilad elp h ia ____ _335,989
Baltim ore_______
32,000
Newport N ews___
____ . . .
New O rlea n s ____
______
G alveston_______
______
N orfolk__________
______
Montreal________ _706,001
M obile___________
______

bush.
456,415
90,714
61,036
121,999
42,858
48,361
16,220
212,327
15,486

Flour,
bbls.
38,951
17,146
214
30,964
18,445
4,999
4.899
1,500
6,036
19,515
3.900

Total week____ 2,064,527 1,065,416 146,569
W eek 1906........... 1,288,666
683,163 169,113

Oats,
bush.
99,377

R ye, Barley,
bush.
bush.

Peas,
bush
570
12,716

138,237

.........

18,050

28,000

240,694
196,402

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

18,050
39,292

41,286
6,806

The destination o f these exports for the week and since
July 1 1907 is as below :
Week
Exports for week and Aw/AO.
since July X to—
bbls.
United K in g d o m ... 87,907
C on tinent--------------- 22,783
So. & Cent. Am er___14,316
W est I n d ie s _______ 18,620
B rit. N o. A m . C o ls .. 2,160
Other cou n tries____
783

Since
J uly 1
Week
1907.
Aug .10.
bbls.
bush.
503,872 1,695,926
297,530
349,076
79,661
19,525
154,874
6,510
88,642

T o t a l ..................... 146,569 1.131.0R9 3,064,527
Total 1906 ________ 169,113 1,003,147 1,288,666

Week
A ug. 10.
bush.
478,384
528,452
9,706
42,520
5,000
1,354

Since
July 1
1907.
bvsh.
2,663,755
5,888,178
54,420
311,574
5,416
4,386

9,627,066 1,065,416
683,163
6,075,895

8.927,72 i
4,505,58 ■
;

Since
July 1
1907.
bush.
7,624,180
1,898,436
83,030
3,700
17,720

A u g . 17 1907.]

THE CHRONICLE

423

except “ at value.” Coarse, colored cotton goods are among
the firmest of the whole list and advances are momentarily
expected in tickings, denims and other lines; the demand
Linings are quieter,
Barley• for heavy goods for winter use is large.
Oats,
R ye,
Wheat,
Corn,
bush.
bush.
bush'.
bush.
bush.
but the recent advances are fully maintained. Napped
14,000
200,000
230.000
765.000
New Y o r k -....................... 1,253,000
goods are still scarce for near-by delivery but future buying
afloat......... ..
17,666
235',000
B o s to n ________________
477,000
has not been quite so heavy. Staple prints are very firm
362.000
95.000
P h ilad elp h ia__________
568,000
and further advances would not be surprising; current b o o k ­
1,000
69.000
B a ltim o re ........... ...........
805,000
1,206,000
122.000
187.000
New O rlean s__________
41,000
ings are said to be the heaviest ever known for the season
39,000
G alveston..... ...................
558,000
of the year. The call for ginghams is also unusually large,
24.000
' 6',000
139.000
166.650
M ontreal______________ 1.018,000
and higher prices are expected shortly. Print cloths are
4,000
T o r o n t o _______________
______
112,666
75.000 quiet but firm, neither buyers nor sellers being anxious to
489.000
1,079.000
B u ffa lo ________________ 1,927,000
afloat......... ......................
increase present commitments for the future, and nothing
192.000
" 2,666
43'666
T o l e d o ________________
938,000
afloat_______
______
being available for early shipment; in some instances second
"5*,000
112.000
10,606
D e tr o it.............................
256,000
hands are offering goods, but at no concessions from manu­
______
“
afloat_______
2ii",666
198,000
125', 000
Chicago________________ 9,562,000
facturers’ prices.
afloat..............
............
"l'ooo
33.000
72.000
W O OLEN GOODS.— Practically all lines of men’ s wear
M ilw aukee____________
268,000
afloat_______
______
light-weight woolen and worsted goods have now been opened,
Port W illiam __________ 2,702,000
and, while there has been some im provem ent in the demand
Port Arthur___________ 4,154,000
96,000
104,000
13.000
D u lu th ________________ 3,481,000
for fancies during the week, the buying, on the whole, has
afloat_______
______
36.000
been disappointing. In the case of low grades there are
5L000
98~000
7.000
Minneapolis ....................11,721,000
13.000
1.000
St. L ouis........................... 3,083,000
93.000
30.000
already signs of revision of orders, from which it appears
"
afloat_______
______
that woolens are likely to be the worst sufferers; but manu­
185.000
17',666
Kansas C ity___________ 3,960,000
3.000
135.000
30.000
P eoria ..............................
3,000
facturers generally feel that, in view of the cautious char­
13.000
239.000
Indianapolis....... .............
512,000
acter of the buying, cancellations are not likely to be numer­
On Mississippi R iver___
______
92.000
29’,000
On L a k es_____________
925,000
411400
ous and duplications will probably be heavy, thereby making
32.000
77.000
474,000
25.000
On Canal and R iver___
up in part for the slackness of the initial buying period.
387.000
588.000
1,801,000
5.738.000
Total Aug. 10 1907.-48.686,000
While this is quite likely to be the case, as it has been in
621.000
420.000
7.556.000
2.759.000
Total Aug. 3 1907..48.313,000
other years, yet mills are being very awkwardly situated b y
3.585.000
5.066.000 1,406,000 1,117.000
Total Aug. 11 1906..31,728,000
617.000
809.000
the smallness of the orders already placed, as they have not
0,565,000
Total Aug. 12 1905.-13,899,000
5.075.000
820.000
878.000
2.379.000
Total A ug. 13 1904.-12,558,000
5.096.000
enough of these on their books at the present time to keep
397,000
498.000
6.002.000
6.659.000
Total Aug. 15 1903.-12,538,000
their machinery busy until duplicate orders commence to
arrive. In former years, under such circumstances they
would have continued on stock orders, but now this is re­
garded as too much of a speculation and is not likely to be
generally engaged in. In the dress goods market there are
T H E DRY GOODS T R A D E .
signs that spring buying has now com m enced in earnest,
New York, Friday Night, Aug. 16 1907.
and, while orders generally favor staples of solid colors,
The primary cotton goods market has been m ainly in­ there has been an increased demand during the week for
fluenced during the week b y the disturbed financial condi­ fancies, indicating that these will becom e still more active
as the season advances.
tions, as reflected in the slump in Wall Street and b y the
FO REIG N D R Y GOODS.— The high prices asked for
labor troubles, which have rendered com m unication with the
im ported woolen and worsted dress goods are causing buyers
South and W est difficult. Under the circumstances busi­ to operate with considerable caution. Silk goods are un­
ness has been quieter than for some time past, although settled, owing to the erratic condition of the raw material
still somewhat above the average for the season of the year. market. Ribbons are in moderate demand. Linens con ­
tinue strong, and the Belfast strike is still causing apprehen­
Both buyers and sellers are inclined to exercise considerable
sion regarding deliveries. Burlaps are again easier on fa v ­
caution at the present time until the financial situation be­ orable reports of the jute crop, and buyers are holding off
com es clearer; for, on the one hand, it is n ot considered awaiting a still lower level.
desirable to load up with more goods for future delivery at Im portations and W arehouse W ithdrawals of D ry G oods.
the present high prices, and, on the other, the m atter of
The importations and warehouse withdrawals of dry goods
credits is being very closely watched. Generally speaking, at this port for the week ending Aug. 10 1907 and since
it m ay be said that in many quarters Stock Exchange liqui­ Jan. 1 1907, and for the corresponding periods of last year,
dation is regarded as being in the long run a favorable are as follows:
factor in that it will undoubtedly release funds which will
be available for legitimate commercial undertakings, if it
S
3
should not becom e sufficiently acute to undermine confi­
sr *
0 . fc?
dence. As far as can be learned, the position of dry goods
?1 S
.
> c+
credits is quite satisfactory so far; and, with crop prospects
§ g
*
bright, little apprehension is felt for the immediate future.
g3
The telegraph strike has been a minor influence, but still has
c %
served to restrict business. A t second hands the m ovem ent
3 a
> :
has been large, and there is still a good deal of buying be­
w:
tween jobbers who are only able in this w ay to fill needed
h .
a ;
requirements. Prices have held very firm and further ad­
OM
0101
vances have been announced, with still the possibility of
d 5 a m to a Vi
*
4 k CO
5
C £
O
others being made in the near future. Buying in the men’ s
0 O to C M § 00 09 CN tO O
0
*
05 tO tO CD
wear light-weight woolen and worsted goods division has
been disappointing, bu t there has been more interest shown
H
i\s
69 60 GO ^ W
in dress goods.
05 to O cn to
^
a g O O 00 69 69
^ O M
05^
e o
>
© to to CK
DOM ESTIC COTTON G OO D S.— The exports o f cotton
to CD
00
» * 6 -4 4- 69 4>
00 CD 4*- CO M9 *4 *
“
goods from this port for the week ending Aug. 10 were 3,390
packages, valued at $223,399, th^ir destination being to the
5 05
W
>
►to
g
69 C5 00 to o
points specified in the tables bel$w:
CD
^S
'
to 69 w a V j
G ©
O
----------1907------------------ 190 6—
<1 0 0 4 0 ©
1 50^0
a
1-3 CD I OO ^ or © to
S in c e
S in ce
N ew ^ Y ork to A u g u s t 10.
W e ek .
Jan. I.
W eek .
Jan. 1
a
o
s
G re a t B r i t a i n . . ..................................................
8
1,178
36
866
E «
d
t £ 4- *i
O» - V
■*
to 69 69 05 69
CO
O th e r E u r o p e ----------------------- ---------------------40
864
12
1,0 4 9
o C6 6 c 6
O9 9 n 9
'► CO
-*
tO CD tO Ot
C h in a -------------------------------------------------------------------14,3 9 9
1,5 6 4
75,801
*0 O 6 t9
5 0 9\
69 O
69 © o* 00 at
O to 69 69 00
O 00 69 69 <1
69
W^MMOO, - e g
5,4 6 5
6
6,690
I n d i a .................................. .................................... 311
cnc O* to h-* CD CW
n
O C OOMM 00 cn 2 r1
r fl OO 00 o 00 o
A r a b ia .................... ................................................ 862 2 3 ,3 3 3
_________
28,444
0
t-k
4 C6 0 W
*
O -a co to o 00
A f r i c a ____________ _________ __________ ___________ 3,700
__________
6,524
o CD
0 MtOK6
0 O0 0 9
©0
5
<! S
=
W e s t I n d i e s ............... - .............. - ...................
458
14,2 7 9
748
15,684
o
M e x ic o ........................................................... .........
60
1,521
72
1,424
CO 69
C en tra l A m e r ic a ___________________________ 408
9 ,2 0 7
236
9,620
I
t.
to 69 to 05 69
• 69
si
m 69 •-* 05 ^
930
2 9 ,3 0 8
911
3 4 ,516
S o u th A m e r ic a ____________________________
CD 69 05 C» to
■si
00 CO CO
O th e r c o u n t r i e s ___________________________ 312
1 8 ,620
250
10,507
-4 -sj 63 *s| 4*.
a ®
w
T o t a l . ................................................................ 3,390
1 2 1 ,8 7 4
3 ,8 3 5
191 ,125
C3« 04
g s0
The value o f these New York exports since Jan. 1 has been
0O
0
> 0
CO O
$6,941,922 in 1907, against $10,835,662 in 1906.
» 5>
W£
I f VJ pThere has been a steady demand for heavy-weight drills
CD tO CD © *4
© 05 H* 4-» C 1
7
W
and sheetings, and the prices of these remain very firm,
with few goods available for delivery during the balance of
the year. Light-weight sheetings are selling at full values,
ZJt © 05 Ot
and buyers are still willing to contract ahead. The export
•si CO 69 O O
4^- tO CD 00 00
trade is very dull, and no new sales of importance have been
announced during the week. Bleached goods continue
O 05
► tO
-*
O* 69
© I "v to 6 0 C
l
9 0 D
0
5
6
9
CD C*
05 * 5 M t O O
4.
their upward movem ent and “ Fruit of the L oom ” 4-4 has
00 M CO OO 00
ko 6 e g
>9
00 "sj to h4 CD
been marked up to 12c .. the announcement being accom ­
’ » 51 c ©
00 05 05 O rfx
CO to C5 C l
panied b y the statement that no orders would be accepted

The visible supply of grain, comprising the stocks in gran­
ary at the principal points of accum ulation at lake and sea­
board ports Aug. 10 1907, was as follow s:




424
g w

THE CHRONICLE.
i

C

ity

B

e w t m e n t

.

B o n d C a lls a n d R e d e m p tio n s *
New Orleans, L a.— Premium Bonds Drawn.— The follow ing
premium bonds of the City of New Orleans were drawn by
lo t on July 31 (for paym ent Jan. 15 1908), this being the
one hundred and tw enty-seventh allotment:
S eries N o s . 3 5 3 , 5 9 5 , 7 4 2 , 1 5 9 4 ,'1 5 9 7 ,
2 8 7 6 , 3 02 2, 3 1 9 1 , 3 3 3 0 , 3 41 6, 3 54 3, 3 59 6,
5 2 5 2 , 5 33 6, 5 6 1 1 , 5 6 2 8 , 5 69 8, 6 08 4, 6 11 9,
7473, 7548, 7575, 8141, 8147, 8164, 8281,
9 3 1 1 , 9 4 7 9 , 9532 a n d 979 8.

1740,
3 61 6,
6578,
8451,

1 91 8,
3 72 4,
6 71 8,
8605,

2123,
4298,
678 1,
9100,

2 39 4,
4306,
7042,
9141,

2839,
4469,
7227,
9252,

Tensas Basin Levee D istrict, L a.— Bond Call.— H . R .
Speed, Secretary o f the Tensas Basin Levee Board, calls
for paym ent Sept. 1 at his office in Monroe, bonds num­
bered 151 to 210 inclusive of the series of 1895.
V irgin ia.— Bonds Purchased.— The follow ing “ Riddleberger” and “ Century” bonds were purchased from the
parties named b y the Sinking Fund Commissioners on Aug.
6 at the prices given:
M iller M an u a l L a b o r S c h o o l______J $500 “ R id d le b e r g e r ” b o n d s ______ 90 .5 0
\ 9,200 “ C e n tu ry ” b o n d s ___________ 90 .5 0
T . C . W illia m s J r ., R i c h m o n d ____ 6 7 ,500 “ C e n tu ry ” b o n d s __________ 89.999
f5 ,0 0 0 “ R id d le b e r g e r ” b o n d s ______90
J . C . W illia m s & C o ., R ic h m o n d .^ 5 ,0 0 0 “ R id d le b e r g e r ” b o n d s ______90 .2 2
[5 ,5 0 0 “ C e n tu ry ” b o n d s ___________ 90 .2 2
D a v e n p o r t & C o ., R i c h m o n d ___ J 2,0 0 0 “ R id d le b e r g e r ” b o n d s _____90
138,000 “ C e n tu ry ” b o n d s __________9 0 .1 2 }^
J o h n L . W illia m s , R ic h m o n d ____ 5 ,0 0 0 “ R id d le b e r g e r ’ b o n d s ____ 89.85
L ib r a r y B o a rd (V ir g in ia )__________ 3 ,0 0 0 “ C e n tu ry ” b o n d s _____ :___ 90

B o n d P r o p o s a l s a n d N e g o t i a t i o n s this week
bare been as follows:
Alderson Independent School D istrict (P. O. A lderson),
M onroe County, W . V a .— Bond Offering.— Proposals will
be received until 12 m. Aug. 31 b y A . McVeigh Miller and
J. E . Johnson, Com mitteemen, for $15,000 5 % coupon
school bonds. Denom ination $1,000. Date O ct. 1 1907.
Interest annually in Alderson. This district has no debt
at present. Assessed valuation $1,000,000.
Alham bra, Los Angeles Co., Gal.— Bond Sale.— On July 30
the $68,500 43^% 1-20-year gold coupon various-im provement bonds offered on July 9 (V. 85, p. 52) were awarded to
N. W . Halstead & Co. of Los Angeles for $68,940— the price
thus being 100.642.
Alliquippa, Beaver County, P a.— Bond Offering.— Pro­
posals will be received until 7 p . m . Aug. 19 b y W . J. W illiam ­
son, Secretary Borough Council, for $10,000 coupon munici­
pal-building bonds. Denomination $200. Maturity $1,000
on Sept. 1 in each of the years 1908 and 1909 and $2,000
yearly on Sept. 1 from 1910 to 1913, inclusive.
Alleghany County (P. O. Sparta), No. Car.— Subsidy Voted
— An election held recently on the question of subscribing
$40,000 to the capital stock of the Elkin & Allegheny R ail­
w ay resulted in favor of that proposition.
Allegheny, P a.— Fifteenth W ard School D istrict.— Bond
Election.— An election will be held Sept. 7 to vote on the
question of issuing $50,000 school-addition bonds.
A llentow n, P a .— Bond Sale.— This city has awarded $68,000 4 % water bonds, $25,000 4 % street-paving bonds and
$25,000 3 % park bonds to local banks and investors.
Am bler, M ontgom ery County, P a.— Bond Offering.— Pro­
posals will be received until 7 p. m. Aug. 27 b y Dr. W alter
E . Fine, Chairman of Finance Com m ittee, for $35,000 bonds.
A n tigo, Langlade County, W is.— Bond Sale.— On Aug. 1
the $10,000 4J^% 15-19-year (serial) coupon refunding bonds
described in V. 84, p. 1441, were awarded to the Trowbridge
& Niver Co. of Chicago at 101.40. Purchaser to furnish
blank bonds.
A shland, Ashland County, Ohio.— Bond Sale.— On Aug. 12
the $45,000 5 % water-works-improvem ent and extension
bonds described in V. 85, p. 174, were awarded to the Ash­
land Bank & Savings Co. of Ashland for $49,027 98— the
price thus being 108.951. Maturity $1,000 each six months
from March 1 1911 to March 1 1933 inclusive.
Banning School D istrict, Riverside County, Cal.— Bond
Sale.— On Aug. 5 the $24,000 5 % 3-26-year (serial) school
bonds described V. 85, p. 297, were awarded to the Los
Angeles Trust Co. of Los Angeles at 101.75 and accrued
interest— a basis of about 4.8 31% . The following bids were
received.
L o s A n g .T r .C o .,L o s A n g ._ $ 2 4 ,4 2 0 0 0 1A d am s,P h illip s< fcC o.,L osA .$ 24 ,200 00
B a n n in g S ta te B k .B a n n ln g 2 4 ,350 0 0 1R iv e r s id e S .B .& T r .C o .,R lv . 24,1 2 8 00

[V o l . l x x x v .

and interest have been prom ptly paid at maturity. Pur­
chaser to pay accrued interest. These bonds were offered as
4s w ithout success on July 29. See V. 85, p. 297.
Beaum ont, Jefferson County, T exas.— Bonds Voted.— The
election held July 30 (postponed from July 9) resulted in
favor of the propositions to issue the $20,000 Main Street
market-house and the $20,000 brick-fire-station-building
20-40-year (optional) bonds m entioned in V. 84, p. 1441.
The vote was 204 to 52 on the form er issue and 244 to 12 on
the latter issue. D ate of sale n ot yet determined.
Beaver Dam Graded Com m on School D istrict (P. O. Beav­
er D am ), Allen C ounty, O hio.— No Bonds Offered.— W e are
inform ed that no bon d s were offered b y this district on July 1.
See V. 84, p . 1564.
Bells School D istrict (P. O. Bells), Grayson County, Texas.
— Bonds Voted.— This district recently authorized the issu­
ance of $12,000 5 % 5-40-year (optional) brick-school-house
bonds b y a vote of 88 to 42.
Benton, Franklin County, 111.— Price Paid For Bonds.—
W e are advised that the price paid for the $16,500 5 % sewer
bonds recently awarded to the Little & H ays Investment Co.
of St. Louis was par. Purchaser to pay the cost o f issuing
bonds.
Boston, M ass.— Bonds Awarded in Part.— Of the eight
issues of 4 % registered im provem ent bonds aggregating
$3,924,000, offered on A u g. 9 (V. 85, p. 360), $100,000,
maturing July 1 1937, were awarded to the State Mutual
Life Assurance Co. of W orcester, at 101. A bid at 100.02
for $100,000 bonds, m aturing July 1 1947, was also received
from H. C. W ainwright & Co. of Boston. This bid was re­
jected.
Bevier School D istrict (P. O. Bevier), M acon County, M o.
— Bonds Registered.— The State Auditor has registered the
$11,500 5 % 5-20-year (optional) school-building bonds
awarded on June 15, as stated in V. 85, p. 174, to the Little
& Hays Investm ent Co. of St. Louis.
Bridgeport, Fairfield County, Conn.— Bonds Awarded in
Part.— Of an issue of $350,000 4 % im provem ent bonds
offered b y this city, $150,000, maturing $10,000 yearly on
Aug. 1 from 1928 to 1942 inclusive, were awarded on Aug. 1
to Hincks Bros. & Co. o f Bridgeport at 100.025. D enom ­
ination $1,000. Date Aug. 1 1907. Interest semi-annual.
Brookhaven, Lincoln County, M iss.— Bonds Not Sold.—
We are advised under date of Aug. 7 that no sale was made
of the $15,000 coupon water and light plant im provem ent
bonds offered on June 4 (V. 84, p. 1011) as the Board of Al­
dermen found that it was not necessary to dispose of the
securities.
Brookhaven Union Free School D istrict No. 24 (P. O.
Patchogue), Suffolk County, N. Y .— Bonds Awarded in Part.
— Of the $60,000 school bonds and the $20,000 additional
school-building bonds offered on Aug. 13 (V. 85, p. 298),
$40,000 were awarded to the Union Savings Bank of Patch­
ogue; $20,000 as 4.50s and $20,000 as 4.60s.
Brow nsville, H ayw ood County, Tenn.— Bonds Not Sold.—
No satisfactory bids were received on Aug. 10 for the $30,000
5 % 30-year coupon street-im provem ent bonds described in
V. 85, p. 298.
Cabell County (P. O. H untington), W . V a .— Bonds Not
Sold.— No bids were received on July 2 for $240,000 road
and bridge bonds offered on that day.
Cambridge, Guernsey County, O hio.— Bond Sale.— The
follow ing bids were received on Aug. 3 for the five issues of
4 % 20-year bonds aggregating $38,000 described in V. 85,
p. 53.
W e s te rn G erm an B k ., C ln ..a $ 3 8 ,4 8 1 1 W e ll, R o t h & C o ., C ln c ln n .a $ 3 8 ,0 0 0
S e a s o n g o o d & M a y e r, C ln__ a 3 8 ,0 3 5 | R . K le y b o lt e & C o ., C lp ___ a 3 8 ,0 0 0
a A n d a ccru e d Interest.

Bonds Defeated.— The election held Aug. 8 resulted in the
defeat of the proposition to issue the $8,000 Gomber Avenue
opening and extending bonds m entioned in V. 85, p. 298.
Camden, Camden County, N. J .— Bond Sale.— The follow ­
ing bids were received on Aug. 15 for the four issues of 4 ^ %
bonds, aggregating $350,000, described in V. 85, p. 298:
$50 ,0 0 0 $ 1 5 0,00 0 $ 1 3 5,00 0
$15,000
30 -itear
20-y ea r
3 0 -y ea r
2 5 -yea r
h osp ita l
pa vin g flo a t , debt
park
bond s.
bonds.
bonds.
bonds.
O ’ C o n n o r & K a h le r, N ew Y o r k _______ 102 .886 a l0 1 .6 8 3 a l0 2 .8 3 5 a l0 1 .9 6 7
C a m d en F ire In su ra n ce C o ___________ a l0 3 .0 7
_______
_______
_______
H . L . C ra w ford & C o ., N e w Y o r k ____ 101 .313
_______
_______
101 .273
H o w a r d K . S t o k e s . . ...................................100 .952
________
_______
100.92
D o m in ic k & D o m in ic k , N e w Y o r k — 100 .35
100 .05
100 .35
100 .20
A . B . L e a ch & C o ., N e w Y o r k -----------"
1
J o h n D . E v e r itt & C o ., N ew Y o r k — J— ----------------------- 1 0 0 .6 7 -------------------------R . M . G ia n t & C o .. N ew Y o r k ------------- ---------------------------- 100 .3 2 -------------------------a S u cce ssfu l b id d e r s .

Bartlett School D istrict (P. O. Bartlett), W illiamson
A bid at par was also received from D a v id S. B. Chew for
County, T exas.— Bonds Voted.— This district recently author­
$5,000 4>£% 20-year paving bonds.
ized the issuance of $20,000 4 ^ % 15-40-year (optional)
Center Independent School D istrict (P .O . Center), Shelby
school-building bonds b y a vote of 183 to 21. Date of sale
County, T exas.— Bonds Registered.— An issue of $21,000 5 %
n ot yet determined.
school-house bonds was registered b y the State Comptroller
Bay City, Bay County, M ich.— Bond Offering.— Proposals
on Aug. 10. Maturity July 1 1947, subject to call ^ter
will be received until 3 p. m. Aug. 26 b y C. J. Barnett, City
July 1 1927.
* !~
Com ptroller, for $150,000 4J^% local-im provem ent bonds.
Centralia, Lew is County, W a sh .— Bonds Voted
An
Denom inations $1,000. Date Sept. 1 1907. Interest semi­
annually in New Y ork City. Maturity $75,000 on Sept. 1 tion held July 30 resulted in favor of a proposition to is=
1910, $40,000 on Sept. 1 1912 and $35,000 on Sept. 1 1915. $22,500 trunk-sewer-system construction bonds.
Chanute, Neosha County, K a n .— Bonds Authorized.— The
Certified check for $500, payable to the City Com ptroller,
is required. Official circular states that all previous bonds City Council on July 23 adopted a resolution providing for the




,V ■

A u g . 17 1907. j

THE CHRONICLE.

issuance of $36,800 5 % funding bonds. Interest semi­
annual.
Charleston, Kanawha County, W . V a .— Bonds Authorized.
— An ordinance providing for the issuance of $170,000 4 }^ %
bonds has been passed b y the City Council according to local
reports.
Chelm sford, M iddlesex County, M ass.— Bids Rejected.—
A ll bids received on Aug. 10 for the $6,500 43^% 1- 10-year
(serial) school-building notes described in V. 85, p. 361, were
rejected.
Chesterfield School D istrict, Chesterfield County, S.C.—
Bond Offering.— Proposals will be received until Aug. 24 by
W . P. Pollock, A ttorney (P. O. Cheraw), or A . W . Hursey,
Chairman School Trustees (P. O. Chesterfield), for $8,000 6%
school bonds maturing in tw enty years. This district has
no debt at present.
Cincinnati, Ham ilton County, Ohio.— Bids.— The follow ­
ing bids were received on Aug. 12 for the $86,000 4 % 50-year
coupon Burnett W oods Park im provem ent bonds, the $15,000 4 % 30-year coupon asphalt-repair-plant bonds and the
$363,000 4 % 15-year coupon street-improvement (city ’ s
portion) bonds described in V. 85, p. 175:

425

Colum bus, Low ndes County, M iss.— Bonds Voted.— An
election held recently resulted in favor of a proposition to
issue $50,000 bonds to secure right of w ay and depot facilities
for the Columbus Memphis & Pensacola R R . The vote
was 486 “ fo r ” to 41 “ against.”
Columbus, Franklin County, Ohio.— Bond Election.— An
election will be held Sept. 10 to vote on the question o f is­
suing $75,000 4 % gold bridge bonds. Denom ination $500.
Maturity $2,500 yearly.
Concordia Parish School Districts Nos. 1, 2 and 4, L a .—
Bond Offering.— Further details are at hand relative to the
offering of the follow ing bonds, m ention of which was made
in V. 85, p. 299:
$ 2 ,2 5 0 5 % co u p o n S c h o o l D is t r ic t N o . 4 b u i l d ln g -a d d i t i o n b o n d s .| D e n o m in a tlo n $450.
1 ,5 0 0 5 % c o u p o n S c h o o l D is t r ic t N o . 1 b u ild in g b o n d s . D e n o m in a tio n
$300.
3 ,0 0 0 5 % c o u p o n S c h o o l D is trict N o . 2 b u ild in g a n d jp u p ll-tr a n s p o rta tlo n
bon d s.
D e n o m in a tio n $600.

Proposals for these bonds will be received at any time b y
D . C. Strickler, Secretary and Superintendent of the Board
of School Directors. P. O. Vidalia. A u th ority Article 232,
Constitution of the State of Louisiana, adopted in 1898.
Date July 1 1907. Interest annually at the Bank of Vidalia.
$86 ,0 0 0
$ 1 5 ,0 0 0
$ 3 6 3,00 0
Maturity one bond of each issue yearly on July 1 from 1908
p a rk -im p .
asphalt p l’ t
street-im p .
to 1912 inclusive.
bonds.
bonds.
bonds.
C en tral T r . & S afe D e p . C o ., C ln ____ $ 8 6 ,6 5 0 00
$ 3 6 3,90 7 50
Creston, W ayne County, Ohio.— Bond Offering.— Pro­
A tla s N a tio n a l B a n k , C in c in n a ti____ 86,2 0 0 00
$15 ,161 00
3 6 3 ,6 0 0 00
posals will be received until 12 m ., Aug. 26, b y Charles A.
W e s te rn G erm an B a n k , S e a s o n g o o d
& M a y er an d th e U n io n S a v in g s
Tenney, Village Clerk, for $14,596 (less any cash pay­
B a n k & T ru st C o .. all o f C in cin n ati 8 6 ,4 0 0 00
3 6 4 ,4 5 2 00
ments b y property owners) 5 % Main Street im provem ent
'• On the same day the $500,000 4 % 20-40-year (optional) assessment bonds. Denom ination $729 80. Date Aug. 1
coupon additional water-works bonds described in V. 85, p. 1907. Interest annually on March 1 at the Village Treas­
175, were awarded to the Atlas National Bank, Seasongood urer’ s office. Maturity $1,459 60 yearly on March 1 from
& Mayer, Western German Bank, German National Bank, 1909 to 1918 inclusive. Certified check for 5 % of bonds bid
Union Savings Bank & Trust C o., and the Central Trust & for, payable to the Village Treasurer, is required. Accrued
Safe Deposit C o., all of Cincinnati, at a joint bid of 100.105.
interest to be paid b y purchaser.
Bonds Not Sold.— No bids were received for the $10,000
D ayton, M ontgom ery County, Ohio.— Bond Offering.— In
4 % 2-year coupon Gladstone Avenue im provem ent bonds
addition to the $12,500 4 % 6-year coupon Stewart Street
offered on the same day.
Bond Offering.— Proposals will be received until 12 m. im provem ent bonds and the $31,000 5 % 14-year coupon
Sept. 12 b y W .„C. Culkins, City A uditor, for the follow ing park bonds to be offered at 12 m ., Sept. 3 (V. 85, p. 361),
proposals will also be received at the same time and plaec
bonds:
b y Edward Philipps, City A uditor, for $43,500 4 % coupon
$ 1 0 ,0 0 0 4 % c o u p o n W h ite S tre e t Im p r o v e m e n t b o n d s d a te d J u ly 25 1907
general-street-improvement (city ’s portion) bonds. D e­
m e n tio n e d in V . 8 5 , p . 237 .
M a tu rity J u ly 25 1947.
2 4 .0 0 0 4 % c o u p o n B o ld F a ce C reek s e w e r -im p ro v e m e n t/is s e s s m e n t b o n d s ,
nom ination $1,000, except one bon d of $1,500. Date July 1
t- d a te d J u ly 25 190 7, m e n tio n e d In V . 8 5 , p . 23 7 . M atu rity
1907. Interest semi-annually in New Y ork City. Maturity
[
J u ly 25 1937.
10.0 0 0 4 % c o u p o n M cM ick e n A v e n u e Im p ro v e m e n t b o n d s , d a te d J u ly 20
$23,500 on July 1 1914 and $20,000 on July 1 1915. An un­
1907, m e n tio n e d in V . 85, p . 237.
M a tu rity J u ly 20 1927.
conditional certified check for $2,175, drawn oh a national
8.0 0 0 4 % c o u p o n W a r s a w A v e n u e Im p r o v e m e n t assessm ent b o n d s , d a te d
J u ly 25 190 7, m e n tio n e d In V . 8 5 , p . 237. M a tu r ity J u ly 25
bank and made payable to the City A uditor, is required.
1922.
Bonds to be delivered Sept. 3.
1 2 .5 0 0 4 % p u b llc -llb r a r y -s lte -p u rc h a s e b o n d s , d a te d J u ly 15 190 7.
M a­
tu r ity J u ly 15 i9 5 7 .
Delaware, Delaware County, Ohio.— Bond Sale.— On Aug.
1 7 .5 0 0 4 % p a r k -la n d -p u r c h a s e b o n d s d a te d J u ly 15 1907.
M a tu r ity J u ly
15 1957.
12 the $ 1,000 cement-sidewalk construction (city’s portion)
1-5-year
Authority Section 2835, Revised Statutes. Denom ina­ and $4,000 cement-sidewalk construction 5 %
tion $500. Interest semi-annual. Bid must be made on a (serial) coupon bonds described in V. 85, p. 175, were
rinted form furnished b y the City Auditor and accompanied awarded to the Provident Savings Bank & Trust Co. of
E
y a certified check for 5 % of bonds bid for, made payable Cincinnati at 101.68— a basis of about 4.4 0% . Following
to the City Auditor. Bonds are exem pt from taxation. are the bids:
P r o v .S a v .B k .& T r .C o ., C in .$ 5 ,0 8 4 O O lD el. N a t . B k ., D e la w a r e ..$ 5 ,0 6 0 00
Purchaser to pay accrued interest.
Bonds Authorized.— The City Council on Aug. 5 passed an D e l. S a v . B k ., D e la w a r e .. 5,0 7 6 0 0 1N ew 1st N a t. B k ., C o l u m ._ 5,045 00
D ickson, D ickson County, Tenn.— Bond Election.— Local
ordinance providing for the issuance of $2,300 Grandin Road
and $3,500 Highland Avenue 4 % coupon im provem ent (city’s papers report that an election will be held Sept. 5 to vote on
portion ) bonds. Denom ination n ot to exceed $100. Date the question of issuing $25,000 30-year water-works bonds
Aug. 30 1907. Interest semi-annual. Maturity Aug. 30 at not exceeding 5 % interest.
D ubois School D istrict (P. O. D u bois), Clearfield County,
1917.
Clearfield School D istrict (P. O. Clearfield), Taylor County, P a.— Bond Sale.— On Aug. 8 the $25,000 43^% 5-30-year
Io w a .— Bonds Voted.— An election held Aug. 3 resulted in (optional) coupon school bonds described in V. 85, p. 299,
a vote of 127 to 25 in favor of a proposition to issue $7,000 were awarded to A . T . Sprankle, Vice-President o f the Union
5-10-year (optional) school-building bonds. Date of sale Banking & Trust Co. of D ubois, at par and accrued interest.
Duquesne School D istrict (P. O. D uquesne), A llegheny
not yet determined.
Cleveland H eights, Ohio.— Bond Sale.— The follow ing County, P a .— Bond Sale.— On July 30 the $20,000 4 ^ % 10bonds were awarded on July 16 to W . J. Hayes & Sons of 29-year (serial) coupon school bonds described in V. 85,
p. 238, were awarded to Otis & Hough of Cleveland at 100.265
Cleveland:
and accrued interest. This was the only bid received.
$20 5,31 1 4J^ % c o u p o n M a y fie ld R o a d Im p ro v e m e n t assessm ent b o n d sM a tu rity $20 ,311 o n O c t . 1 1908, $ 20 ,000 y early-c/n O c t . 1
Durant, Ind. Ter.— Bond Offering.— Proposals will be re­
fro m 1909 t o 1912 In clu sive an d $ 2 1 ,0 0 0 y e a r ly o n O c t . 1
ceived until 8 p. m ., Aug. 20 (postponed from Aug. 1), b y
fro m 1913 t o 1917 In clu sive.
1 2 .0 0 0 4^6 % c o u p o n M ayfield R o a d Im p r o v e m e n t (v illa g e ’s p o r tio n )
J. M. H inm an, City Clerk, for $15,000 water-works-extension
b on d s.
M a tu r ity $ 1 ,0 0 0 y e a r ly on O c t . 1 fr o m 1908 to
and 120,000 sewerage 5 % bonds. Maturity tw enty years.
1915 in c lu s iv e and $ 2 ,0 0 0 o n O c t . 1 in each o f th e y e a rs
1916 and 1917.
Certified check for $3,500, payable to the City Clerk, is
2 ,7 2 0 4>£ % c o u p o n T a y lo r R o a d Im p ro v e m e n t assessm ent b o n d s .
required.
M a tu r ity $220 o n O c t . 1 1909 and $500 o n O c t . 1 in ea ch o f
th e years 1910, 1912, 191 4, 1916, 1917.
East Cleveland (P. O. Cleveland), Cuyahoga County, Ohio.
2 ,2 8 0 4J-S % c o u p o n T a y lo r R o a d Im p ro v e m e n t (v illa g e ’ s p o rtio n ) b o n d s.
— Bond Sale.— On July 27 this place awarded $23,000 4 %
M a tu rity $280 o n O c t . 1 1910 and $500 on O c t . 1 In ea ch o f
r *
th e y e a rs 191 2, 1914, 1916 an d 1917.
water-main bonds to Seasongood & Mayer o f Cincinnati at
The above bonds are dated O ct. 1 1907. Interest semi­ 100.047.
annually at the office of the Village Treasurer.
Eaton R apids, Eaton County, M ich.— Description of Bonds.
Cloquet, Carlton County, M inn.— Bonds Voted— Bond — We are advised that the $15,000 5 % Main Street paving
Offering.— An election held July 30 resulted in a vote of 364 bonds awarded on July 16 (V. 85, p. 238) to the Harris Trust
to 42 in favor of a proposition to issue $50,000 5 % water- & Savings Bank of Chicago at 103.70 are dated Aug. 1 1907
plant-im provem ent bonds. Proposals for these bonds will and m ature in tw enty years. Denom ination $1,000. Inter­
be received until 7 p. m. Aug. 29. W . L. Case is the City est annual.
A ttorney.
E dm onton, A lta.— Debenture Offering.— Proposals will be
Cody School D istrict No. 6 (P. O. C ody), Big Horn County, received until 12 m. Aug. 31 b y the City Commissioners for
W y o .— Bond, Sale.— On Aug. 5 the $7,500 10-year coupon $556,852 26 debentures.
school-building bonds described in V. 85, p. 299, were aFalls City, Richardson County, N eb.— Bond Offering.—
warded to th First National Bank of Laramie at par and
Proposals will be received until 12 m. Aug. 19 for the $25,000
accrued int<
for 5J^s. Purchaser to furnish blank bonds.
10- 20-year (optional) water-system-extension, the $ 10,000
Following
-he ids:
10- 20-year (optional) electric-light-system -extension and the
1st
BV
xamie _~ H s)a $ 7,50 0| C . H . Coffin, Chicago (6s)____ $7,576
$5,000 10-year park-purchase 5 % bonds voted , as stated in
><*
., Det .->^s)
7 ,5 2 5 1Mac Donald , McCoy & Co Chi (6s) 7,541
N lv erC o C h l(5H s)7,5 00| R . C. Peters & C o ., O m a. (6s) 7,525
V. 85, p. 23&j on July 17. Denom ination $500. D ate, day
»rbln, Chey. ( 6 s ).
7,580|Su th erllnej& C o.,K an .C ity (6s) 7 ,5 0 0
of delivery. Interest annual. Certified check for $500,
jed Interest and furnish blank bonds.
payable to B. K . Baker, City Clerk, is required.




THE CHRONICLE.

4*26

Fall River, Bristol County, M ass.— Bond Sale.— This city
on Aug. 14 awarded an issue of $20,000 43^% 10-year regis­
tered highway bonds to N. W . Harris & Co. of Boston at
101.77 and accrued interest— a basis of about 4.2 81% . The
follow ing bids were received:
N . W . H arris & C o ., B o s to n . . 1 0 1 . 7 7 1B lo d g e t . M erritt & C o ., B o s . 101 .0 7 8
R . L . D a y & C o . . B o s to n .______1 0 1 .5 9 1A d a m s & C o ., B o s t o n ------------- 101.041
E s t a b r o o k & C o . , B o s t o n _____ 101 .55 I M a c k a y & C o . , N . Y . C i t y — 100.97
D e n iso n & F a rn s w o r th , B o s - .1 0 1 .5 3 ] A . B . L e a ch & C o ., B o s t o n . .1 0 0 .8 1
M errill, O ld h a m & C o ., B o s ._ .1 0 1 .4 3 | B lak e B r o s & C o ., B o s t o n . . .1 0 0 .1 6

Securities are dated Aug. 1 1907. Interest semi-annually
b y the City Treasurer..
Farm ington, D akota County, M inn.— Bond Offering.—
Further details are at hand relative to the offering on Aug.
26 of the $7,000 5 % city-hall and jail bonds m entioned in
V . 85, p. 361. Proposals will be received until 8 p. m. on
th at day b y the Village Council. Denom ination $500.
Interest annual. Maturity $500 yearly from 1908 to 1921
inclusive. P. H . Feely is President of the Village Council.
F ort W ayne School City (P. O. Fort W ayn e), Allen County,
In d .— Bond Sale.— On Aug. 12 the $75,000 4 % 1- 10-year
(serial) coupon funding and building bonds described in
V . 85, p. 239, were awarded, it is stated, to Breed & Harrison
o f Cincinnati at 100.035— a basis of about 3.9 93% .
Fostoria, Seneca County, O hio.— Bond Qffering.— Pro­
posals will be received until 12 m. Aug. 31 b jr J. T . Y ant,
City A uditor, for $6,000 4 % coupon refunding sewer District
No. 1 bonds. A uthority Title 12, Chapter 2, Section 2701.
Revised Statutes and Section 96, Municipal Code. D enom ­
ination $1,000. Date Sept. 1 1907. Interest semi-annually
at the National Park Bank in New Y ork City. Maturity
Sept. 1 1924. Certified check for $600, payable to the City
Treasurer, is required. Official circular states that there
has never been any default in the paym ent of principal or
interest. Purchaser to pay accrued interest.
Bonds Authorized.— The City Council on July 23 passed a
resolution providing for the issuance of $6,000 4 % coupon
Sewer District N o. 1 refunding bonds. Denomination $1,000.
D ate, day o f sale. Interest semi-annually at the National
Park Bank of New Y ork City. Maturity seventeen years.
Gastonia, Gaston County, N. C.— Bond Offering.— Pro­
posals will be received until Oct. 1 b y E . N. Lineberger,
Tow n Treasurer, for the follow ing bonds:
$30 ,0 0 0
15.0 0 0
2 3 .0 0 0
2.0 0 0
5.0 0 0

5%
5%
5%
5%
5%

g o ld
g o ld
g o ld
g o ld
g o ld

cou p on
cou p on
coupon
coupon
cou p on

s tr e e t-im p ro v e m e n t b o n d s .
g ra d e d -s c h o o l b o n d s.
w a te r-w o rk s a n d se w e ra g e b o n d s .
e le ctr ic -lig h t b o n d s .
fu n d in g b o n d s .

These bonds are part o f an issue of $100,000 authorized
b y a vote of 215 to 0 cast at election held July 2 and Chapter
11, Laws of 1907. D enom ination $1,000. Date Oct. 1
1907. Interest semi-annually at place designated b y pur­
chaser. Maturity O ct. 1 1937. Bonds are free from town
taxes. Certified check for 2 }^ % of bid, payable to E. N.
Lineberger, Tow n Treasurer, is required. Official circular
states there is no litigation or controversy pending or threat­
ened concerning the validity o f this issue.
G oldthwaite, Mills County, T exas.— Bonds Registered.—
An issue of $5,000 5 % 5-40-year (optional) school-house
bonds was registered b y the State Comptroller on July 31.
Green Bay, Brow n County, W is .— Bond Sale.— Reports
state that this city has awarded $12,000 4 % coupon streetim provem ent and school-site bonds to the McCartney
National Bank of Green B ay for $12,050, the price thus
being 100.416. Denom ination $1,000. Date July 1 1907.
Interest semi-annual. M aturity $2,000 yearly on Jan. 1
from 1917 to 1922 inclusive.
Hallock School D istrict (P. O. H allock), K ittson County,
M inn.— Bond Sale.— This district recently awarded an issue
of $10,000 4 % 20-year school-building bonds to the State of
Minnesota. Denom ination $1,000. Date July 1 1907.
H ancock County (P. O. Findlay), O hio.— Bond Sale.— The
follow ing bids were received on Aug. 9 for the $10,000 5 %
coupon W ilson R oad im provem ent bonds maturing $1,000
yearly on Sept. 1 from 1908 to 1915 inclusive and $500 yearly
from 1916 to 1919 inclusive and the $3,000 5 % coupon
Deming R oad im provem ent bonds maturing $500 yearly on
Sept. 1 from 1908 to 1913 inclusive, described in V , 85, p. 362:
$1 0 ,0 0 0
W ilso n
R oad
B o n d s.
H o e h le r & C u m m in g s, T o l e d o __________________________$10 ,3 7 2 50
C itizen s’ N a tio n a l B a n k , W o o s t e r ______________________ 10,371 50
P r o v id e n t S a v in gs B a n k & T ru s t C o ., C in c in n a ti____ 1 0 ,3 5 7 00
R u d o lp h K le y b o lt e & C o ., C in c in n a ti__________________ 10,3 4 7 00
S e c u r ity S a v in gs B a n k & T ru s t C o ., T o l e d o __________ 1 0 ,3 4 6 50
W e ll. R o t h & C o ., C in c in n a ti___________________________ 10,341 00
H a y d e n . M iller & C o ., C le v e la n d _______________________ 1 0 ,3 2 9 00
O tis & H o u g h , C le v e la n d _______________________________ 1 0 ,2 5 4 00
B reed & H a rris o n , C in c in n a ti__________________________ 1 0 ,2 2 5 00
N e w F irst N a tio n a l B a n k , G o lu m b u s __________________ 1 0 ,2 1 0 00
S. A . K e a n , C h ic a g o ___________________ __________ ______ 1 0 ,2 0 0 00
W . J . H a y e s & S o n s , C le v e la n d ________________________ 10,1 5 0 00
B u ck e y e N a tio n a l B a n k , F in d la y ______________________
_______

$3,000
D em in g
R oad
B on d s.
$3,0 4 8 50
3,0 7 5 50
3,0 5 7 90
_______
_______
.............
3,0 3 9 #0
_______
_______
3,0 1 5 00
_______
3,0 3 9 90
3,0 7 0 25

H anford, K ings County, Cal.— M aturity of Bonds.— We
are inform ed that the $20,000 sewer, $13,000 water-main,
$5,000 fire-apparatus and $2,000 fire-alarm 5 % bonds awarded on July 31 to Daniel Finn of H anford at 107.60 (V.
85, p. 362) mature in forty years. Interest February and
August.
H artford-W ashington School D istrict, Conn.— Bonds Not
Sold.— No bids were received on Aug. 12 for the $100,000
4 % 20-year school bonds described in V . 85, p. 176.




[V o l.

lxxxv

.

Hartwell, Hart County, G a.— Bond Election.— A t the
com ing Novem ber election a proposition to issue $70,000
sewer bonds will be subm itted to a vote of the people.
Harvard School D istrict No. 11 (P. O. H arvard), Clay
County, N eb.— Bonds Withdrawn from the M arket.— W e are
advised that the $8,000 5 % 5-20-year (optional) coupon
school-building bonds described in V. 85, p. 239, have been
withdrawn from the market. The Board of Education pro­
poses to call an election to vote on a larger issue.
H avelock (P. O. M ontevideo), Chippewa County, M inn.—
Bids Rejected.— All bids received on July 20 for an issue of
$ 1,000 ditch bonds offered on that day, were rejected.
Haverhill, E ssex County, M ass.— Bond Sale.— On Aug. 1
an issue of $25,000 4 % 10-year coupon sewer, school and
polling-booth bonds dated April 1 1907 was awarded at priv­
ate sale to Merrill, Oldham & Co. o f Boston.
Hawarden, Sioux County, Io w a .— Bonds Defeated.— An
election held Aug. 5 resulted in the defeat of a proposition
to issue bonds. The vote was 32 " f o r ” to 126 “ against.”
H ays School D istrict (P. O. H ays), Allegheny County, Pa.
— Bond Offering.— Proposals will be received until 8 p. m.
Sept. 3 b y the Board of Directors for $10,000 4 ^ % coupon
school bonds. Denom ination $500. Date O ct. 1 1907.
M aturity Oct. 1 1917. Bonds are exem pt from State taxes.
Certified check for $500, payable to the “ Hays School Dis­
trict,” is required. The legality of these bonds has been ap­
proved by Carpenter & Chalfant, Solicitors for the district.
John Reid is Secretary of School District.
Heidenheimer Independent School D istrict (P. O. Heidenheimer), Bell County, T e x .— Bond Sale.— This district has
awarded the $5,500 5 % school-building bonds registered on
June 29 (V. 85, p. 115) to the State of Texas on a 4 % basis.
Bonds are dated Jan. 1 1907. Interest semi-annual. Ma­
turity forty years, subject to call after five years.
H enderson,'Chester County, Tenn.— Bonds Defeated.— An
election held Aug. 3 to vote on the question of issuing bonds
to equip and maintain an electric-light-plant resulted in the
defeat of that proposition. On April 27 this city authorized
the issuance of $20,000 electric-light-plant bonds by a vote
of 73 to 46 (V .8 4 , p. 1136), bu t this election was found to be
irregular.
Henry County (P. O. N apoleon), Ohio.— Bond Sale.— On
Aug. 6 the $20,000 Flatrock Township road-im provem ent
No. 54, $24,000 Liberty Township road-im provem ent No.
56 and 57 and $6,000 Pleasant Township road-im provem ent
No. 62 4J^% coupon bonds described in V. 85, p. 176, were
awarded, it is stated, to Hoehler & Cummings of Toledo for
$50,656 30 (101.312), while the $3,500 4J^% coupon Mon­
roe Township road-im provem ent N o. 55 bonds offered on
the same day were awarded to M. Donnelly of Napoleon for
$3,533— the price thus being 100.942.
H oboken, H udson County, N. J .— Bond Offering.— Pro­
posals will be received until 8 p. in ., Aug. 28, b y the Mayor
and City Council for $95,000 4 ^ % coupon or registered
water bonds. A u th ority, an A ct o f the Legislature approved
May 7 1907. Interest semi-annual. M aturity thirty years.
Certified check for $1,000 is required. James H. Londrigan
is City Clerk.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Hollister, San Benito County, Cal.— Bond Sale.— On Aug.
5 the $14,000 tow n-hall-construction and $6,000 street-cross­
ing-paving 4J^% 1-40-year gold coupon bonds, a description
of which was given in V. 85, p. 239, were awarded to the Bank
o f Hollister at 100.125 and accrued interest— a basis of about
4 .4 91% . Following are the bids:
B a n k o f H o lliste r ___________ a $ 2 0 ,0 2 5 1F arm ers’ & M e r ch a n ts ’ B a n k
L o s A n ge le s T r . C o ., L o s A n g . 2 0 ,3 2 5 1 o f H o llis te r --------------------------- $ 2 0 ,0 20
a A n d a ccru e d in terest.

H olly, Prowers County, Colo.— Bond Election Proposed.—
The Tow n Council proposes to call an election to subm it to
the voters a proposition to issue sewer-system bonds.
Inverness School D istrict, Marin County, Cal.— Bond Sale.
— On July 19 $3,500 6% school-building and site-purchase
bonds were awarded to the Sonoma County Bank for $3,602 70— the price thus being 102.934. Date June 15 1907.
Interest annual. Maturity part yearly on June 15 from 1910
to 1919 inclusive.
Jefferson School D istrict, Fresno County, Cal.— Bond Sale.
— On July 26 $8,000 6 % 1-8-year (serial) school-building
bonds were awarded to the People’s Savings Bank of Fresno
at 103.6875— a basis of about 5.0 74% . D enom ination
$1,000. Date July 15 1907. Interest anunal.
K enedy Independent School D istrict (P. O. K enedy),
Karnes County, T exas.— Bonds Registered.— The issue of
$12,000 4 % 3-40-year (optional) school-house bonds men­
tioned in V. 85, p. 300, was registered b y the State Com p­
troller on Aug. 5.
K ingstree, W illiam sburg County, S. C.— Bond Offering.—
This town is offering for sale the $10,000 5 % school-buildingaddition bonds. Denom ination $1,000. Date Sept. 1 1907.
Interest annually in Kingstree. Maturity Sept. 1 1927,
subject to call after Sept. 1 1917. Bonded debt, this issue.
Assessed valuation, $497,623. Real valuation (estim ated),
$700,000. E. C. Epps is Clerk of the Board of Tow n
Trustees. See V. 85, p. 55.

A

ug

. 17 1907.]

THE CHRONICLE.

L akew ood (P. O. Station, Cleveland), Ohio.— Bond Offer­
in g .— Proposals will be received until 12 m. Sept. 9 b y B. M.
Cook, Village Clerk, for the follow ing bonds:
5 3 ,0 0 0 5 % H illia r d A v e n u e im p ro v e m e n t assessm ent b o n d s.
D e n o m in a ­
tio n $60 0. M a tu rity $600 y e a r ly o n O c t . 1 fro m 1908 t o 1912
in clu siv e .
2 ,2 0 0 5 % P a rk R o w sew er b o n d s . A u th o r it y , S e c tio n 283 5, R e v is e d
S ta tu tes.
D e n o m in a tio n $44 0. M a tu r ity $440 y e a r ly o n
O ct. 1 fr o m 1908 t o 1912 in clu siv e .

D ate, day of sale. Interest April 1 and O ct. 1 at the Cleve­
land Trust Co. o f Cleveland. Certified check for 5 % of
bonds bid for is required.
Bond Sale.— On Aug. 10 the $26,678 5 % coupon general
im provem ent (village’s portion) bonds described in V. 85,
p. 300, Were awarded to the Cleveland Trust Co. of Cleveland
at 104.66 and accrued interest. Following are the bids:
C le v e la n d T r . C o . , C le v e _ -$ 2 7 ,9 2 1 20| F . L . F u lle r & C o ., C le v e .$ 2 7 ,3 8 3 00
E m e r y ,A n d e r s o n & C o .,C l 27,7 5 3 00| N ew 1st N a t. B k , C o lu m . 2 7 ,2 9 4 50
H a y d e n , M iller & C o .,C le . 27,5 1 5 5 0 | W . J . H a y e s & S o n s, C le _ . 2 7 ,2 2 8 00

Maturity O ct. 1 1917.
Landis Tow nship School D istrict (P. O. Vineland), Cum­
berland County, N. J .— Bond Sale.— W e are advised that
o n Aug. 1 the $13,000 4 % coupon school bonds described
in V. 85, p. 240, were awarded at par to local bidders as
follows:
D r . J. A . C o n w e ll_____________ $4,000
M rs. Jessie P a y n e _____________ 1,000
W . L . F o u lk e ___________________ 1,000
M rs. H . T . H e a t o n ____________ 1,000
D . W . S ig a fo d __________________1,000
G us S h ea r ,S r........ ................... .......1,000

W m . H . J a y , . ................................ $1,000
F ire C o m m is s io n e r s ___________ 1,000
O scar B e e k e r___________________
500
T h o m a s C o o k ___________________
500
B o ro u g h C om m ission ers_______
500
M rs. P . R . C l a r k - ............... .........
500

Lawrence County (P. 0 . D eadw ood), S. D .— Bond Offer­
ing.— Proposals will be received until 10 a. m. Aug. 29 (date
changed from Sept. 17) for the $235,500 5 % coupon refund­
ing bonds mentioned in V. 84, p. 708. A uthority Sections
963 and 964, Political Code. Denom ination $1,000. Date
N ov. 1 1907. Interest semi-annually at the County Treas­
urers’ office or at the Fourth National Bank of New York
City. Maturity N ov. 1 1927, subject to call after N ov. 1
1917. Official circular states that there is no controversy or
litigation pending or threatened affecting the corporate ex ­
istence or the title of the present officials to their respective
offices, or the validity of these bonds, and that there lias
never been any default on the part of the county in the pay­
ment of any of its obligations. W m . McLaughlin is County
Auditor.
Leadw ood School D istrict ( P. O. L ead w ood), St. Francois
County, M o.— Bonds Voted.— An election held July 24 re­
sulted in a vote of 64 to 1 in favor of a proposition to issue
$25,000 4 % school-building bonds. W e are advised that
these bonds will be placed on the market about December.
Lew isburg, Marshall County, Ten n.— Bond Offering.—
Further details are at hand relative to the offering on Aug. 20
o f the $40,000 6 % coupon water-works-system bonds men­
tioned in V. 85, p. 362. Proposals for the bonds will be
received until 2 p. m. on that day b y the Peoples’ Bank of
Lewisburg, acting as fiscal agencj' for this town. Authority
Chapter 313, Acts of 1901, as amended b y an A ct of the Leg­
islature passed Feb. 12 1907. Denomination $1,000. Date
day of issuance. Interest annually at the National Park
Bank of New York City. Maturity twenty-five years, sub­
je ct to call after ten years. Bonds are exem pt from city
taxes. Certified check for $500, payable to the People’ s
Bank of Lewisburg, is required. Assessed valuation 1907
$342,130. Real valuation (estimated) $700,000.
Lexington, D avidson County, No. Car.— Bond Sale.— On
Aug. 10 the $10,000 5 % 20-40-year (optional) coupon streetim provem en t bonds described in V. 85, p. 301, were awarded
to the Bank of Lexington. Securities are dated Aug. 1 1907.
Lloydm inster, Sask.— Debenture Offering.— Proposals Mali
be received up to Sept. 1 (this date falls on Sunday but is so
S'iven in the official advertisement) b y H. C. Lisle, SecretaryTreasurer, for $12,900 6 % debentures.
Denomination
*‘ $1,000 or m ore.” Date Aug. 15 1907. Interest annually
at the Canadian Bank of Commerce in Lloydminster. Ma­
tu rity part yearly on Aug. 15 from 1908 to 1927 inclusive.
Debenture debt this issue.
Logan County (P. 0 . Bellefontaine), Ohio.— Bond Sale —
On Aug. 12 the $17,000 4 % coupon county ditch bonds de­
scribed in V. 85, p. 301, were awarded to the People’s Na­
tional Bank of Bellefontaine for $17,049 (100.288) and ac­
crued interest. A bid of $17,027 (100.158) was also recerved
from the Commercial Savings Bank of Bellefontaine.
Lorain, Lorain County, Ohio.— Bond Offering.— Proposals
will be received until 12m. Sept. 7 b y Custer Snyder,City Audi­
tor,for the $50,000 43^% bonds mentioned in V. 85, p. 55, for
the construction o f a wall on the east side of Black River.
Denom ination $1,000. Date July 15 1907. Interest semi­
annually on March 15 and Sept. 15. Maturity $5,000 yearly
■on Sept. 15 from 1927 to 1936 inclusive. Certified check on
some local bank for $1,000 and made payable to the City
Treasurer is required.
Purchaser to pay accrued interest.
Bonds Authorized.— The City Council recently passed or­
dinances providing for the issuance of the follow ing bonds:
$ 0 8 ,0 0 0 4 Y % c o u p o n s t r e e t-lm p ro v e m e n t assessm ent b o n d s .
D e n o m in a ­
tio n $ 1 ,0 0 0 .
M atu rity $ 3 ,0 0 0 y e a r ly o n M arch 15 fro m 1909
t o 1918 Inclu sive an d $ 4 ,0 0 0 y e a r ly on S e p t. 15 fro m 1909
t o 1916 in clu siv e an d $ 3 ,0 0 0 o n S e p t. 15 in e a ch o f th e years
1917 and 1918.
8 ,5 0 0 4 Y % c o u p o n W a s h in g to n S treet im p ro v e m e n t assessm ent b o n d s .
D e n o m in a tio n $50 0.
M a tu rity $500 each s ix m o n th s fro m
M arch 15 1909 t o S e p t. 15 1915 Inclu sive an d $500 o n S e p t. 10
in ea ch o f th e years 191 6, 1917 an d 1918.

The above bonds are dated Aug. 15 1907. Interest March
15 and Sept. 15 at the Chaw National Bank of New York
City.




427

Loudonville, Ashland
Aug. 12 the $15,696 5 %
bonds described in V . 85,
ers’ Bank of Loudonville
a basis o f about 3.8 76% .

County, Ohio.— Bond Sale.— On
coupon Main Street im provem ent
p. 301, were awarded to the Farm­
at 105.377 and accrued interest—
Following are the bids:

F a rm ers B k ., L o u d o n v ille $ 1 6 ,5 4 0 0 0 | H o e h le r & C u m m in g s ,T o l.$ 1 6 ,0 0 3 50
F a rm e rs ’ B a n k , A s h l a n d .. 16,401 65 |H a y d e n ,M ille r & C o , C leve 1 5 ,9 0 7 00
A s h la n d B k . & S . C o., A s h . 16,2 5 6 69 | e il, R o t h & C o ., C in ____ 15,8 6 3 00
W
F ir s t N a t . B k ., L o u d o n v . 1 6 ,2 3 2 50| N ew 1st N a t .B k . , C o lu m . 15,851 00
C itizen s S. B . C o ., L o u d . 1 6 ,1 2 0 00|S. A . K e a n , C h ic a g o ____ 15,801 00
S e c u r .S . B . & .T r. C o .,T o l. 1 6 ,098 0 0 1

M aturity $784 80 each six months from March 1 1908 to
Sept. 1 1917 inclusive.
Lucas County (P. O. T oledo), Ohio.— Bond Sale.— The fo l­
lowing bids were received on Aug. 12 for the $20,000 5 %
1-5-year (serial) coupon stone-and-gravel-road-construction
bonds dated Aug. 2 1907 and described in V. 85, p. 240:
S e cu r. S. B . & T r . C o ./a ._ $ 2 0 ,3 5 4 0 0 I S .A . K e a n , C h ic a g o ______$ 2 0 ,2 8 0 00
T o le d o ____________ \ b ._ 2 0 ,3 0 2 00 |H a y d e n ,M ille r& C o ., C le v e 20,211 00
W e ll, R o t h & C o . , C i n j a - . 2 0 ,3 4 0 00 [ S e a s o n g o o d & M a y e r. C in - 2 0 ,2 1 0 00
\b- - 20,251 0 0 1B reed & H a r ris o n , C i n . . . 2 0 ,1 5 0 00
P r o v . S. B . & T r . C o ., C in. 2 0 ,3 3 6 O O lO hio S. B . & T r . C o ., T o l . 2 0 ,1 4 2 10
K o e h le r & C u m m in gs, l a . . 2 0 ,3 3 2 50 W . J . H a y e s & S o n s, Cleve. 20,081 00
T o l e d o ______________1
2 0 ,287 50
a F o r b o n d s o f $1,0 0 0 d e n o m in a tio n ,
t io n .

b F o r b o n d s o f $ 4 ,0 0 0 d e n o m in a ­

The original advertisement called for bonds of $4,000 de­
nomination. W e are inform ed, however, that if the county
officials can legally change the denomination, they will do so.
Malden (P. 0 . Sta., B oston ), M ass.— Temporary Loan.—
This city has borrowed $75,000 for three months from Blake
Bros. & Co. of Boston at 5.3 6% discount.
M arengo County (P. O. Linden), A la .— N o Bond Election.
— W e are advised that the call for the election which was to
have taken place Aug. 10 (V. 84, p. 1321) to vote on the ques­
tion of issuing $100,000 50-year bridge and road-im provement bonds at not exceeding 5 % interest has been rescinded
M arietta, W ashington County, Ohio.— Bond Offering.—
Proposals will be received until 12 m ., Aug. 21, b y Carl
Becker, City A uditor, for the follow ing bonds:
$ 1 5 ,0 0 0 4 % c o u p o n
1 5.000 4 % p a v in g
A ug. 1
15.000 4 % c o u p o n

p a v in g (s e co n d issue) r e fu n d in g b o n d s d a te d O c t . 1 ’ 07
an d sew erag e (se co n d issue) re fu n d in g b o n d s d a te d
1907.
e le ctr ic -lig h t r e fu n d in g b o n d s d a te d A u g . 1 1907.

Denom ination $500. Interest annual. Maturity ten
years. Certified check for 5 % of bonds bid for, payable to
the City Treasurer, is required. Purchaser to pay accrued
interest.
Marseilles School D istrict No. 155 (P. 0 . Marseilles), La
Salle County, 111.— Bond Offering.— Proposals will be re !
ceived until 4 p. m. Aug. 26 b y W . A . M orey, Secretary
Board of Education, for $15,000 4 % school-building bonds.
Authority, vote of 150 to 85, cast at election held July 9,
Denomination $1,000. Date Aug. 1 1907. Interest annu­
ally at the First National Bank of Marseilles. Maturity
$1,000 yearly on Aug. 1 from 1915 to 1929 inclusive. Certi­
fied check for $200, payable to the President of the Board of
Education, is required. Bonded debt, including this issue,
$21,500. Assessed valuation for 1906, $491,000. Real
value (estimated), $2 ,000,000.
Medicine H at Protestant Public School D istrict No. 76
(P. O. Medicine H at), A lta .— Bid Rejected.— A bid at 90
subm itted b y O. Leger of Montreal was the on ly offer re­
ceived on Aug. 1 for the $10,000 5 % debentures described
in V. 85, p. 177. This bid was rejected.
Miami County (P. O. T roy), Ohio.— Bond Offering.— Pro­
posals will be received until 10 a. m. Sept. 14 b y E. E. Pear­
son, County Auditor, for $50,000 5 % bridge bonds. Author­
ity Sections 871 and 872, Revised Statutes. Denomination
$1,000. Date Sept. 14 1907. Interest semi-annually at the
Countj^ Treasury. Maturity $3,000 each six months from
Jan. 1 1909 to July 1 1916 and $2,000 on Jan. 1 1917. Cer­
tified check or cash for $500 is required with each bid. Pur­
chaser to pay accrued interest.
M iddletown, Butler County, Ohio.— Bond Sale.— On Aug
9 the $2,481 80 4 % 1-10-year (serial) sewer assessment bonds,
described in V . 85, p. 240, were awarded to the Merchants’
National Bank of Middletown.
Mineral Point, Iow a County, W is .— N o Action Yet Taken.
— We are advised that no action has yet been taken looking
tow ard the issuance of the $40,000 municipal-building bonds
voted on June 4. See V. 84, p. 1444.
M itchell, Scotts Bluff County, N eb.— Description of Bonds.
— We are advised that the $6,000 municipal-water-wo ks
bends voted on April 17 (V. 84, p. 1070) are coupon in form
and carry 6% interest. Denom ination $500. Date June 1
1907. Interest annually in New Y ork City. Maturity
June 1 1927, subject to call after June 1 1912. Bonded debt,
this issue. Assessed valuation 1907, $37,000.
M ontgom ery County (P. O. Craw fordsville), In d .— Bonds
Authorized.— The Board of County Commissioners recently
authorized the issuance of $65,000 6% 10-year road-con
struction bonds.
M oose Jaw Public School D istrict No. 1 (P. O. M oose Jaw ),
Sask.— Debentures Not Sold.— No satisfactory bids were re­
ceived on Aug. 7 for the $10,000 5 % school debentures de­
scribed in V. 85, p. 56.
M organtow n, M onongalia County, W . V a .— Bond Sale.—
On Aug. 12 the $20,000 sewer and $45,000 street-paving
5 % coupon bonds, a description of which was given in V. 85,

THE CHRONICLE.

428

p. 177, were awarded to the Provident Savings Bank & Trust
Co. of Cincinnati for $65,327 25, the price thus being 100.503.
M ountain V iew , K iow a County, Okla.— Bond Sale.— On
July 20 $20,000 6% 30-year water-works bonds dated Aug. 1
1907 were awarded to John Nuveen & Co. of Chicago at par.
Denom ination $1,000. Interest semi-annual.
M t. Clemens, M acom b County, M ich.— Bond Election.—
A proposition to issue $25,000 fire-departm ent bonds will
be subm itted to a vote o f the people on Aug. 26.
Naco School D istrict No. 23 (P. O. N aco), Cochise County,
A riz.— Bond Offering.— Proposals will be received until
1 p. m ., Sept. 10, b y George Jay, Clerk Board of School
Trustees, for the $5,000 6 % school-building and site-purchase
bonds v oted on May 18. Denom ination $1,000. Maturity
ten years. Certified check for 10% of bid, payable to J. N.
Gaines, County Treasurer, is required.
N ew G lasgow , N. S.— Debentures Awarded in Part.— Of
the $11,000 43^% 30-year gold coupon school debentures
offered on Aug. 10 (V. 85, p. 177), George Hoone purchased
$2,000 at par and accured interest and $500 at 98 and ac­
crued interest, and the James C. McIntosh Co. purchased
$6,000 at 97 and accrued interest. We are advised that the
remainder o f these bonds will not be offered again this year.
New Y ork C ity.— Bond Sale.— The aggregate of bids re­
ceived on Aug. 12 for the four issues of 4 % gold registered
or coupon corporate stock and bonds, am ounting to $15,000,000, described in V. 85, p. 301, was $2,713,485. The
award was made as follow s: Of the $13,000,000 corporate
stock due 1957, $2,573,060 was disposed o f, the average price
being 100.004— a basis o f about 3.9 9 8 % , while of the $2,000,000 assessment bonds due 1917 only $140,425 was dis­
posed o f, at about par. The successful bidders were as fol
lows:

I Alex. H lrschfeld____ $10,000.-100
10,000..100
CanandalguaNat.Bk.
10,000--100
A . Iselin & C o______
R . K leyholte & Co.,
10,0 0 0 ..1 0 0
N . Y _____________
5.000--100
Mary E . Gentle_____
Albert J. V oelm y—
5.000--100
Eugene Vallens_____
Brighton-German Bk
Fred. G . E n deriln-.
5 .00 0 .-1 0 0
Co., Cincinnati___
W illlam D . B row n -4.000--100
Adolph Mayer______
O . E rlan dsen ______
3 .0 0 0 ..1 0 0
H . N e u m a n ..............
W m . B oyd Hunter,
3 .00 0 -.1 0 0
N. Stetson__________
1,000. .100.26
Washington, D . O.
13,000..100
F . A . H lnm an______
100. -100.25
G eo. Horn, Brooklyn
W m . O ’Connor,Exr.,
4,000. .100.25
Foley & Pow ell_____
& c. of Edmund
10,000. .100.25
Wells P Eagleton—
O ’Connor_________
2 ,500.-1 00
flOO. .100.20
Harry A . Gray_____
2 ,000.-100
•ilOO- .100.10
Philip R . D ean-------2 ,000.-100
Foster & A dam s____
1100. .100.01
2 ,000-.100
4,500. .100.1119 James J. Brow n-----Rose E . McChesnes.
S. Kuhn & Sons, Cin.
2 ,000.-100
1,000. .100.10
Hannah P . Glenn___
2 ,000..100
Jacob Salom on_____
1,000. .100.10
Forrest Glenn---------2 ,000.-100
5,000- .100.0625 Charles H . T h a y e r ..
W m . G. F ltzgerald ..
1 ,000.-100
Abram D e y o_______
15,000. .100.05
Oliver McGurrtn-----1 ,000--100
J. H . Benjamin,M.D.
Zlmmermann & For[ D r. D . P . Ordway
shay, New Y o r k . .1,704,800- -100
1,000.. 100
Plaster C o_______
BoroughBk-ofBklyn. 250,000.-100
1,000..100
JJ. J. Ellas..................
The Stock, Grain &
1,000.-100
j Leah Salom on---------Provision Co.,N .Y . 200,000 100
3 0 0 ..1 0 0
|Delano E. F a r r -----65.000-.100
James D u n n e ---------5 0 -.1 0 0
I Harry H o r n _______
50.000-.100
Empire Tr. Co., N .Y.
20..100
! Anton H o r n _______
Manufacturers’ Nat.
i $140,425 Assessment Bonds, due 1917.
50.000-.100
- Bank, B r o o k ly n ..
Nassau Tr. Co. of the
i H enry Clay P e te r s ..
$ 5 0 ..1 0 1
50,000.-100
City of B rooklyn.
I Knickerbocker Tr.Co 100,000 . . 100
Ladenburg .Thalmann
M. A . Jones & others
22,725..100
40.000-.100
- & C o., N. Y ............
Leo C. Teller..............
10,000..100
15,000.-100
Charles H Gilman—
I Jerome I. Goodrich,
The Andrew H.Green
I Delhi, N . Y ............
6,500.-1 00
Memorial Fund of
! J . J . Ellas_____ ____
1,000..1 00
the American Scen­
! Chas. Ford Carm an.
1 5 0 .. 100
ic and Historic
Preservation S o­
10,000-.100
ciety, N . Y . City$2,573,060 Stock due 1957.

Charles Parker_____
H enry Clay Peters- -

$400. .101.50
50- .101
f 1,000. .101
1 1,000- .100.75
11,000- .100.50
20- .100.75
20- .100.50
5,000. .100.33

The above covers the entire number of bids received.
It is proper to state that of the $12,286,515 bonds not
awarded on Aug. 12 about $3,000,000 nas been disposed of
at private sale. W ith the exception of $1,500,000 taken
b y the Interborough Rapid Transit C o., in paym ent of
m oneys owing to it, these securities were disposed of in small
am ounts to contractors and others.
New Y ork State.— Bonds Not Sold.— No sale was made
on Aug. 15 of the $60,000 4 % 6- 10-year (serial) registered
Canaseraga Creek im provem ent bonds described in V. 85,
p. 363. A bid for $500 worth of the bonds was the only
offer reoeived.
North Battleford, Sask.— Debenture Offering.— This town
is offering for sale $35,000 5 % school debentures. Denom i­
nation $5,000. Interest payable at the Canadian Bank of
Commerce of North Battleford. M aturity part yearly for
30 years. E . W . Drew is Secretary and Treasurer.
North Milwaukee, Milwaukee County, W is .— Bond Sale.—
On Aug. 5 the $20,000 5 % coupon sewer-system -construction bonds described in V, 85, p. 241, were awarded to A. J.
H ood & Co. of D etroit at 102.81 and accrued interest— a babasis o f about 4.7 45% . This was the only bid received.
M aturity on Sept. 1 as follows: $1,000 yearly from 1917 to
1921 inclusive and $3,000 yearly from 1922 to 1926 inclusive.
N orw ay School D istrict (P. O. N orw ay), Benton County,
Io w a .— Bond Sale.— On Aug. 10 $10,000 5 % 5-10-year
(optional) school-house bonds were awarded to O ’Connor &
Kahler of Chicago at 100.17— a basis of about 4.962% to
the optional date and about 4.9 79% to full m aturity. De­
nom ination $1,000. Date Sept. 1 1907. Interest semi­
annual.
Oakland, Alam eda County, Cal.— Bond Sale.— The follow ­
ing bids were received on Aug. 5 for the $992,000 4 ^ %
1-40-year (serial) gold coupon public-park bonds offered on
that day:




[V o l .

lxxxv

.

O a k la n d B a n k o f S a v in g s ___ $ 9 9 2 ,5 2 0 ]F irs t N a t. B a n k , 0 a k la a < i-9 $ 5 0 1 ,000
C en tral B a n k o f O a k la n d ___ 9 9 2 ,5 2 0 ]
a F o r $4 9 6 ,0 0 0 b o n d s m a tu rin g $ 2 4 ,8 0 0 y e a r ly fro m 1928 t o l9 4 7 In clu siv e.

The bonds were awarded to the Oakland Bank o f Savings
with the understanding that the Central Bank of Oakland is
to have one-half of the issue.
Ocean Park School D istrict (P. O. Ocean Paxk), L os A n­
geles County, CaL— Bond Election.— A n election w ill be held
Aug. 24 to vote on the question o f issuing $6,500 schoolim provem ent-and-m aintenance bonds.
Ogle County (P. O. O regon), 111.— Bond Sale.— Reports
state that an issue of $225,000 4 % funding bonds has been
awarded to H . C. Speer & Co. of Chicago.
Oneida County (P. O, U tica), N. Y .— Bonds Proposed.—
On Aug. 6 a proposition to issue $55,000 bondp was sub­
m itted to the Board o f County Supervisors b y the County
Building Commission.
Osage City, Osage County, K an .— Bond Sale.— On Aug. 1
$15,000 5 % 10-20-year (optional) funding bonds were
awarded to the Citizens’ State Bank of Osage City at par.
Denom ination $500. Date July 1 1907. Interest semi­
annual.
Palo Pinto County Com mon School D istrict, T exas.—
Bonds Registered.— The State Com ptroller on A ug. 8 regis­
tered $1,000 5 % school-house bonds m aturing April 10 1917.
Paulsboro, Gloucester County, N. J .— Bonds Voted.—
The election held Aug. 6 resulted in favor of the proposition
to issue the $46,000 4 % 30-year water-wo rks-purchase bonds
mentioned in V. 85, p. 241. The vote was 202 “ fo r ” to
167 “ against.”
Payette Independent School D istrict No. 32 (P. O. P ay­
ette), Canyon County, Id a h o.— Bond Sale.— On Aug. 1 the
$1 5 ,0 0 0 .10-20-year (optional) gold coupon sehool-buildingand-im provem ent bonds described in V. 85, p. 241, wr
ere
awarded to E. H . Rollins & Sons of Denver at par and ac­
crued interest for 5s.
P eabody, M ass.— Temporary Loan.— A loan o f $100,000
was recently negotiated wT
ith Loring, Tolman & Tupper of
Boston at about 5.9 5% discount. Loan matures in three
months.
Penetanguishene, O nt.— Debenture Offering.— Proposals
will be received until 12 m . Aug. 20 b y W . H. H ew son,
Town Clerk, for the follow in g debentures:
% h ig h -s ch o o l d e b e n tu re s .
M a tu r ity p a r t yearly for th irty
yea rs.
15.0 0 0 4 }4 % p u b llc -s c h o o l d e b e n tu re s .
M a tu r ity p a rt y e a r ly fo r th irty
years.
2,150 4 % ce m e n t-s ld e w a lk
d e b e n tu re s .
M a tu r ity
part
y e a r ly
fo r
t w e n ty y e a rs.

$ 2 3 ,0 0 0 4

Interest annual.
Pensacola, Escam bia County, F la .— Bonds Not Sold.— No
award was made on July 9 o f the $450,000 4 ^ % 30-year im ­
provem ent bonds described in V . 84, p. 1386. The only bid
received was from W illiam H . K now les, President o f the
First National Bank of Pensacola, who offered 95 for $ 100,000
bonds.
Peoria Tow nship, Peoria County, 111.— Bond Offering.—
Proposals will be received .up to and including Sept. 16 b y
R obert M. Orr, Supervisor, and Fred. B. Tracy, Tow nship
Clerk (P. O. Peoria) for $50,000 4 % coupon Upper Free
Bridge building refunding bonds. A u th ority, election held
April 2. Denom ination $1,000. Date N ov. 1 1907. Inter­
est semi-annually at the Savings Bank of Peoria. Maturity
N ov. 1 1927, subject to call after N ov. 1 1912.
Pioneer, W illiam s County, O hio.— Bond Offering.— Pro­
posals will be received until 12 m . Aug. 30 b y Maurice R ow ­
land, Village Clerk, for $3,500 5 % bridge and highway
bonds. A u th ority Section 2837, Revised Statutes, and an
ordinance passed May 6 1907. Denom ination $500. Date
June 1 1907. Interest semi-annual. Maturity June 1 1912.
Purchaser to pay accrued interest.
Pontiac, Oakland County, M ich.— Bond Offering.— Pro­
posals will be received until 7:30 p. m . Aug. 19 at the office
o f Joseph H . Thorpe, City Clerk, for $26,000 5 % paving
bonds. D enom inations $5,000 and $1,000.
Maturity
$5,000 yearly on N ov. 1 from 1908 to 1912 inclusive and
$1,000 N ov. 1 1913. Certified check for $200, payable to
the City Treasurer, is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Portland, Ore.— Bond Sale.— On Aug. 5 this city disposed
o f the follow ing bonds:
$ 1 ,500 Im p ro v e m e n t b o n d s a w a rd e d t o th e E lliso n E n ca m p m e n t N o . 1,
I .O .O . F . , fo r $1,531 5 0 , th e p r ice th u s b e in g 1 02 .10.
5 .0 0 0 Im p ro v e m e n t b o n d s a w a rd e d t o W . J . K e lly fo r $ 5 ,1 3 0 . th e p rice
th u s b e in g 1 0 2 .6 0 .
2 5 .0 0 0 Im p r o v e m e n t b o n d s a w a rd e d t o A . H . M aegly fo r $ 2 5 ,5 2 5 25, th e
p r ice th u s b e in g 1 02 .101 .
1 0 .000 im p ro v e m e n t b o n d s a w a rd e d t o A . T lc h n o r fo r $ 1 0 ,2 1 0 25, th e
p r ice th u s b e in g 1 02 .102 5.
3 ,5 0 0 im p ro v e m e n t b o n d s a w a rd e d t o M cG risw o ld fo r $3,608 5 0 , th e price
th u s b e in g 1 0 3 .1 0 .
1 0.0 0 0 Im p r o v e m e n t b o n d s a w a rd e d t o A . G . K lo s te r m a n fo r $ 1 0 ,2 1 0 ,
th e p r ice th u s b e in g 1 02 .10.
2 5 .0 0 0 Im p ro v e m e n t b o n d s a w a rd e d t o th e U . S. N a tio n a l B a n k fo r $ 2 5 ,5 2 5 .
th e p r ice th u s b e in g 1 0 2 .1 0 .
'
8 0 .0 0 0 Im p r o v e m e n t b o n d s a w a rd e d t o th e U . S, N a tio n a l B a n k fo r $ 8 1 ,740 5 0 , th e p r ice th u s b e in g 102 .1 7 5 .

Portland, Cumberland County, M e.— Bond Sale.— On Aug.
12 the $985,000 43^% 2-year gold coupon r e fu n d m g bonds
described in V. 85, p. 364, were awarded to N. W . Harris &

THE CHRONICLE.

A u g . 17 1907.|
Co. o f Boston at 97.79 and accrued interest.
the bids:

Following are

N . W . H a rris & C o ., B o s t o n - . 97.7 9 |Parkinson & B u rr, B o s t o n ___ 97.77
A . B . L e a ch & O o ., B o s t o n ___ 97 .7 7 8 B o n d & G o o d w in , B o s t o n _____9 7 .5 0
----------I E a st B o s to n S a v . B k ., B o s to n a 9 8 .1 5
•
a For $ 50,000 bonds.

Preble County (P. O. E aton), Ohio.— Bond Offering.—
Proposals will be received until 1 p. m. Aug. 24 b y the
Board o f County Commissioners at the office of C. W .
Eidson, County Auditor, for the follow ing bonds:
$ 3 ,9 0 0 4 % H illm a n D itc h
t u r ity $975 e a ch
1 ,2 0 0 4 % K o o n t z D itc h
t u r it y $300 e a ch

N o . 250 b o n d s .
D e n o m in a tio n $97 5. M a­
s ix m o n th s fro m F e b . 24 1908 t o A u g . 24 190 9.
N o . 263 b o n d s .
D e n o m in a tio n $ 30 0.
M a­
six m o n th s fro m F e b . 24 1908 t o A u g . 24 1909.

Authority Sections 4479, 4480, 4481 and 4482, Revised
Statutes. Date Aug. 24 1907. Interest semi-annually at
the County Treasurer’s office. Delivery of bonds Aug. 24.
Putnam County (P. O. Greencastle), In d .— Bond Sale.—
On July 27 the $9,877 20 6 % ditch bonds mentioned in
V. 85, p. 241, were awarded to the First National Bank of
Greencastle for $9,907 20— the price thus being 100.303.
Denom inations: tw enty bonds o f $400 each and ten bonds of
$187 each. Date July 10 1906. Interest May and Novem ber.
Maturity part yearly from one to ten years.
R ed D eer, A lta.— Debentures Not Yet Sold.— Up to Aug. 6
no sale had yet been made of the six issues of 5 % bonds
aggregating $67,300 offered w ithout success on June 15.
See V . 85, p. 1567. The securities answer the follow ing
description:
$ 30 ,000 5 % sew erag e debentures. Date Aug. 16 190 6.
Maturity part
y e a r ly fro m s ix years t o t h ir ty -fiv e ye a rs in c lu s iv e
2 0 ,0 0 0 5 % w a te r-w o rk s -e x te n s io n
d e b e n tu re s .
D a te A u g .
1
1906.
M a tu r ity p a r t y e a r ly fo r t h ir ty years.
4.0 0 0 5 % s tr e e t-im p ro v e m e n t d e b e n tu re s .
D a te A u g . 1 1906. M a ­
t u r it y p a r t y e a r ly fo r fiv e years.
5.0 0 0 5 % fire-hall d e b e n tu re s .i D a te A u g . 1 1906. M a tu r ity p a r t
y e a r ly fo r t w e n ty years.
6.000 5 % g r a n t t o R e d D eer H o s p it a l” d e b e n tu re s .
D a te A u g . 16
190 6. M a tu rity p a r t y e a r ly f o r t w e n t y years.
2 ,3 0 0 5 % “ pu roh a se o f lan d fo r w a te r-w o rk s p u r p o s e s ” d e b e n tu re s .
D a te N o v . 1 1906.
M a tu rity p a r t y e a r ly f o r t w e n t y y e a rs.

R ed Granite, Waushara County, W is .— Bond Offering.—
Proposals will be received until 7 p. m. Aug. 30 by E. R .
Barnard, Village Clerk, for $5,000 registered street-improvem ent, light, jail and funding bonds at n ot exceeding 5 % in­
terest. Denom ination $250. Date not later than Oct. 1
1907. Interest payable at the R ed Granite State Bank of
R ed Granite. Maturity $250 yearly from 1908 to 1927 in ­
clusive. Bonds are exem pt from taxation. Bonded debt,
this issue. Floating debt, $1,100. Assessed valuation 1906,
$152,000.
R edon do, L os Angeles County, Cal.— Bonds Voted.— This
city on Aug. 5 authorized the issuance of $30,000 5 % cityhall bonds,
R ipley, Lauderdale County, Tenn.— Bonds Voted.— An
election hold Aug. 8 resulted in favor of a proposition to
issue $15,000 additional street-graveling bonds. The vote
was 147 “ for” to 8 “ against.”
Roanoke Rapids Graded School D istrict (P. O. Roanoke
R apids), Halifax County, No. Car.— Bond Offering.— Pro­
posals will be received until Sept. 16 b y the School Trustees,
for $10,000 6 % school-building bonds. Interest semi-an­
nual. Mr. J. L. Patterson is Secretary.
Rochester, Monroe County, N. Y .— Temporary Loan.— On
Aug. 10 $40,000 three-m onths’ m arket fund renewal notes
were awarded to the Monroe County Savings Bank of R och ­
ester at 5.5 0% and $1 00 premium. Following are the bids:
M on roe C o u n ty S a v in g s B a n k , R o c h e s t e r _______ 5 .5 0 % a n d $1 pre m iu m
S p e n ce r T ra sk & C o ., N e w Y o r k ------------------------------------------------------- 5 . 8 7 } ^ %
B o n d & G o o d w in , B o s t o n ________________________ 6 .5 0 % an d $5 p re m iu m

R ockford, W innebago County, 111.— Bond Sale.— Reports
state that this city recently awarded the $36,000 4 % 15-year
refunding bonds, bids for which were rejected on July 15,
to N. W . Halsey & Co. of Chicago.
R ock y River, Cuyahoga County, Ohio.— Bonds Defeated.—
The proposition to issue the $25,000 Fairview Cemetery en­
largement bonds mentioned in V. 85, p. 178, was defeated
at the election held Aug. 6 . The vote was 102 “ fo r ” to 145
“ against.*'
R ox b oro, Person County, N. C.— Bond Offering.— Further
details are at hand relative to the offering of the $20,000 5 %
coupon graded-school-building bonds m entioned in V. 85,
p. 365. Proposals will be received up to Aug. 26 b y J. S.
Brodshn, Tow n Treasurer. Denom ination $1,000 or $500.Date Sept. 1 1907. Interest semi-annually at place desig­
nated b y purchaser. Maturity Sept. 1 1937. Certified
check for $1,000, payable to the Tow n Treasurer, is required.
Bonded debt at present, $10,000. Assessed valuation
$750,000.
R oyse City, R ockw all County, T e x .— Bonds Voted.— This
place has authorized the issuance o f $15,000 water-works
bonds.
Sabina School D istrict (P. O. Sabina), Clinton County, O.
— Bids Rejected.— All bids received on Aug. 12 for the $40,000
5 % school bonds described in V . 85, p. 178, were rejected.
Maturity $10,000 in ten years and $5,000 every five years
thereafter.
St. Bernard (P. O. Cincinnati), Ham ilton County, Ohio.—
Bond Offering.— Proposals will be received until 12 m. Sept.
12 b y George Schroeder, Village Clerk, for $10,000 4 %
bonds for the purpose of extending, enlarging, im proving
and repairing the water-works and electric-light plant. Auh ority Boolion 2835, Revised Statutes, and an ordinance




429

passed July 11 1907. Denom ination $500. Date Aug. 20
1907. Interest semi-annually at the Citizens’ Bank of St.
Bernard. Maturity Aug. 20 1937. Purchaser to pay ac­
crued interest.
St. Francis Levee D istrict, A rk .— Bond Sale.— Memphis
papers state that this district has accepted a bid o f par, sub­
m itted b y the Union & Planters’ Bank & Trust Co. of Mem­
phis, for the $500,000 6 % 30-40-year (optional) coupon
levee-building bonds, bids for which were rejected on June 15.
See V. 84, p. 1506.
Salamanca, Cattaraugus County, N. Y .— Bond Offering.—
Proposals will be received until 8 p. m. Aug. 20 b y George
Elliott, Village Clerk, for the follow ing bonds:
$ 20 ,0 0 0 w a te r-s y s te m -im p r o v e m e n t b o n d s a t n o t e x c e e d in g 5 % in te re s t.
D e n o m in a tio n $ 1 ,0 0 0 .
M a tu r ity $ 1 ,0 0 0 y e a r ly o n A u g . 1 fro m
1908 t o 1927 In clu siv e.
5 .0 0 0 lg h tin g -s y s te m -e x te n s io n b o n d s a t n o t e x c e e d in g 5 % in terest .
D e n o m in a tio n $ 50 0. M a tu r ity $500 y e a r ly o n A u g . 1 fro m 1908
t o 1917 In clu siv e .
6 .0 0 0 lig h tin g -s y s te m -e x te n s io n b o n d s a t n o t e x c e e d in g 5 % in te re s t.
D e n o m in a tio n $ 50 0. M a tu r ity $500 y e a r ly o n A u g . 1 fro m 1912
t o 1923 In clu siv e .

The above bonds are dated Aug. 1 1907. Interest semi­
annual. Certified check for $200, payable to the Village
Treasurer, must accom pany each bid. Official circular states
there is no litigation or controversy pending or threatened
concerning the validity of these bonds, the corporate exist­
ence or boundaries of the m unicipality or the title o f the
present officers or any other village officers, to their re­
spective offices now or heretofore held.
Salem, M cCook County, S. D .— Bond Election.— A n elec­
tion will be held Aug. 30 to vote on the question o f issuing
$20,000 sewerage-system -construction bonds.
San D iego School D istrict (P. O. San D iego), San D iego
County, Cal.— Bids.— The follow ing bids were received on
Aug. 7 for the $150,000 5 % 6-20-year (serial) school bonds
awarded on that day, as stated in last week’s issue, to the
Los Angeles Trust Co. o f Los Angeles at 102.513 and ac­
crued interest— a basis of about 4.739% :
L o s A n g e le s T r . C o ., L o s A -$ 1 5 3 ,7 7 0 IW m . R . S ta a ts C o ., P a s a d ’a $ 1 5 3 ,1 1 8
A d a m s -P h illlp s C o ., L o s A . 1 5 3 ,708| B a n k o f L o s A n g e le s _______ 1 52 ,980
S e c .S a v .B k .& T r .C o ., T o l . . 1 5 3 ,7 0 8 (N . W . H arris & C o ., L o s A . 150 ,100

Interest annual.
San Jose, Santa Clara County, Cal.— Bond Offering.— Pro­
posals will be received until 4 p. m . Aug. 19 b y R o y W alter,
C ity Clerk, for $55,000 city-hall-repair and $95,000 fire-departm ent-equipm ent 4 ^ % gold coupon bonds. A u th ority,
an election held June 25 1907. D enom inations $1,000 and
$750. Date Aug. 1 1907. Interest sem i-annually at San
'
Jose. Maturity $3,750 yearly on Aug. 1 from 1908 to 1947
inclusive. Bonds are exem pt from taxation. Bids must be
unconditional. Certified check for 10% o f bonds bid for,
payable to the M ayor, is required. Purchaser to pay ac­
crued interest.
Santa Barbara, Santa Barbara County, Cal.— Bond Sale.—
This city on Aug. 1 awarded an issue of $50,000 4>£% 1-40year (serial) boulevard bonds to E. H. Rollins & Sons of
Boston at 102.77 and accrued interest— a basis o f about
4 .3 0 % . Following are the bids:
E . H . R o llin s & S on s, B o s .$51 ,3 8 5 0 0 | N . W . H a r r ls & C o ., L o s A .$ 5 0 ,5 2 7 00
L o s A n ge le s T r . C o .,L o s A . 51,1 1 7 00|C . A . E d w a r d s ____________ 5 0 ,2 5 0 00

All bidders offered accrued interest in addition to their
bids. Denom ination $1,250. D ate Aug. 1 1907. Interest
semi-annual.
Santa Paula, Ventura County, Cal.— Bond Election.— A c­
cording to local reports, an election will be held some time
in September to vote on the . question of issuing $10,000
public-library bonds.
Seabreeze, Volusia County, Fla.— Bond Sale.— W e are
advised that the $ 10,000 street-im provem ent bonds voted
on July 10 have been disposed of.
Seattle, K ing County, W ash .— Bond Sale.— This city has
awarded the $2,250,000 5 % water-system -extension bonds
offered bu t not sold on March 20 (V. 84, p. 767) to local
banks at par. For description o f bonds see V . 84, p. 649.
Shalersville Tow nship, Portage County, O hio.— Bond Sale.
— On July 20 the $5,000 5 % coupon Canton and Painesville
State R oad im provem ent bonds described in V. 84, p. 1568,
were awarded to the First National Bank o f Mantua, Ohio,
at 101.40— a basis of about 4.4 96% . M aturity $500 each
six m onths from March 1 1908 to Sept. 1 1912 inclusive.
Sherburne, Chenango County, N. Y .— Bond Sale.— On
Aug. 13 the $15,000 coupon m unicipal-electric-light-plantconstruction bonds described in V . 85, p. 365, were awarded
to the Sherburne National Bank of Sherburne at par for 4s.
Following are the bids:
S h erbu rn e N a tio n a l B a n k ,
| N .W .H a r r is & C o .,N .Y .(5 s )$ 1 5 ,0 1 7 00
S h erbu rn e ( 4 s ) ..................$ 1 5 ,0 0 0 0 0 | N .W .C o I e r & C o .,N .Y .(5 s )
15,015 57

These bonds will be dated Sept. 1 1907, the day o f deliv­
ery. M aturity on July 1 as follow s: $500 yearly from 1912
to 1931 inclusive and $5,000 in 1932.
Silverton, Ham ilton County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m . Sept. 11 b y A . A . Sprague,
Village Clerk, for the $7,600 4J^% coupon street-im prove­
m ent (village’s portion) bonds voted on June 15. Author
ity , Sections 2835, 2835b, 2836 and 2837, Revised Statutes.
Denom ination $500. Date Aug. 12 1907. Interest semi­
annual. Maturity Aug. 12 1932. Bonds are exem pt from
taxation. Certified check for 5 % o f bonds bid for, payable
to the Village Treasurer, is required. Purchaser to pay ac­
crued interest.

430

THE CHRONICLE.

Social Circle, W alton County, G a.— Bond Sale.— W e are
advised that the purchaser of the $16,000 5 % electric-light
plant-eonstruction bonds disposed of on June 1 (V. 85, p .366)
was the Southern States Life Insurance Co. The bonds Were
purchased b y this firm for $16,101 25— the price thus being
100.632. Denom ination $1,000. Date Sept.
1 1906.
Interest semi-annual. M aturity Sept. 1 1926.
South Charleston, Clark County, Ohio.— Bond Sale.— On
July 23 an issue o f $5,500 43^% street-im provem ent bonds
was awarded to L. M. H ouston of South Charleston.
South Omaha, D ouglas County, N eb .— Bond Offering.—
Proposals will be received .until 8 p. m. Aug. 26 b y John J.
Gillin. City Clerk, for the follow ing bonds:
53 0 .0 0 0 4 H % in te rs e c tio n b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
5 0 .0 0 0
V-. % sew er b o n d s.
D e n o m in a tio n $500

Interest semi-annually at the Nebraska Fiscal Agency in
New Y ork City. Maturity 20 years, subject to call after 5
years* Certified check for $1,000 on a national or State
bank, and made payable to the “ City of South O m aha,” is
required. Purchaser to pay accrued interest.
Stam ford, Fairfield County, Conn.— Bond Sale.— This city
has awarded the $50,000 4 % 25-year gold coupon permanent
street-paving bonds offered on Aug. 1 (V. 85, p. 58) to local
banks at par and accrued interest.
Steuben County (P. O. B ath), N. Y .— Bond Offering.— Fur­
ther details are at hand relative to the offering on Aug. 29
o f the follow ing bonds, m ention of which was made in V. 85,
p. 366:
5 3 0 .0 0 0 5 % registere d co u r t-h o u s e b o n d s
In te re st se m i-a n n u a lly at th e
N ew Y o r k S ta te N a tio n a l B a n k o f A lb a n y .
M a tu r ity $5,000
y e a r ly o n M a y 1 fro m 1913 t o 1918 In clu sive.
20.0 0 0 5 % registered ja ii-re p a lr b o n d s .
In te re st a n n u a lly on M a y 1 at
th e F a rm e rs’ & M e ch a n ics’ B a n k o f B a th .
M a tu r ity $ 5 ,0 0 0
o n M a y 1 in e a ch o f th e y e a rs 190 8, 190 9, 1910 an d 1911.

Proposals for these bonds will be received until 2 p. m.
on that day (Aug. 29) b y Fred. W . Hastings, Clerk Board of
County Supervisors. A u th ority Sections 12 and 14, County
.Laws. Denom ination $1,000.
Date Sept. 1907.
Certi­
fied check for $500, payable to Fred. W . Hastings, Clerk, is
required w ith bid for each issue.
Sutton, Clay County, N eb.— Bond Offering.— Further de­
tails are at hand relative to the offering of the $5,000 4 %
coupon water-system-extension bonds m entioned in V. 85,
p. 242. Proposals for these bonds will be received b y John
Heinz, City Clerk. Denom ination $250. Date Oct. 1 1906.
Interest annually at the Fiscal A gency in New Y ork City.
Maturity tw enty years, subject to call after ten years. Cer­
tified check for $1,000, payable to the City Treasurer, is re­
quired. Total debt, including this issue, $12,000.
Syracuse, N. Y .— Bond Offering.— Proposals will be re­
ceived until l p . m . , Aug. 27, b y R . J. Shanahan, City Com p­
troller, for the follow ing bonds: „
5 2 0 0 .0 0 0 4 14 % registe re d c o u r t-h o u s e b o n d s .
A u th o r it y , C h apter 182,
L a w s o f 1898, a n d C h a p te r 685 , L a w s o f 1892, a n d a m e n d ­
m en ts th e r e to .
D e n o m in a tio n $ 5 ,0 0 0 .
D a te A u g . 1 1907.
M a tu r ity $10 ,0 0 0 y e a r ly o n A u g . 1 fro m 1908 t o 1927
in clu siv e .
1 60 .000 4 % % registe re d lo ca l-lm p r o v e m e n t b o n d s .
A u th o r it y , C h apter
6 8 4 , L a w s o f 1905, an d C h a p te r 182, L a w s o f 1898, and
a m e n d m e n ts t h e r e to .
D e n o m in a tio n s : $5,000 an d $ 1 ,0 0 0 .
D a te A u g . 1 190 7. M a tu r ity $16 ,000 y e a r ly o n A u g . 1
fro m 1908 t o 1917 in c lu s iv e .
50 ,0 0 0 4 %
registered in te rc e p tin g -s e w e r b o n d s .
A u t h o r it y , C h apter
35 6 , L a w s o f 190 7.
D e n o m in a tio n $ 2 ,5 0 0 .
D a te J u ly 2
1907.
M a tu r ity $2,500 y e a r ly o n J u ly 1 fro m 1908 t o 1927
in clu siv e .
• 25,000 4
% registered Salina S c h o o l b o n d s .
A u th o r it y , C h a p ter 182,
L a w s o f 1 89 8, an d C h a p te r 6 8 5 , L a w s o f 1892 an d a m e n d ­
m en ts th e r e t o .
D e n o m in a tio n $ 1 ,2 5 0 .
D a te J u ly 15
190 7. M a tu r ity $ 1 ,250 y e a r ly o n J u ly 15 fro m 1908 t o
1927 In clu siv e.

Interest semi-annually at the office of the Columbia
Trust Co. in New Y ork City. Each bid must be made on a
blank form furnished b y the city and must be accompanied
b y a certified check for 2 % of the bonds bid for, payable to
the City Comptroller. Bonds will be certified as to genu­
ineness b y the Columbia Trust Co. of New Y ork City. The
legality o f the issue has been examined b y Messrs. Storey
Thorndike, Palmer & Thayer of Boston, whose opinion will
be furnished to the purchaser. Delivery of bonds Sept. 3.
Purchaser to pay accrued interest.
Tacom a, Pierce County, W a sh .— Bond Election.— Reports
state that the City Council has passed an ordinance providing
for an election to be held Sept. 10 to vote on the question of
issuing the $2,000,000 bonds for the construction of the Green
River gravity water system m entioned in V. 85, p. 366.
Tecum seh, Johnson County, N eb.— Bond Sale.— On Aug. 6
the $16,000 5 % 5-20-year (optional) electric-light-plantconstruction bonds described in V. 85, p. 303, were awarded
to the Tecumseh National Bank of Tecumseh at 100.25—
a basis of about 4.944 to the optional date and about 4.981
to full m aturity.
Terre Haute School City (P. O. Terre Haute), Vigo
County, In d .— Bond Sale.— On Aug. 10 the $200,000 4 %
school-funding bonds described in V. 85, p. 304, were
awarded to Breed & Harrison of Cincinnati at 102.882 and
accrued interest. Following are the bids:
B reed & H a rrison , C in c in n a ti_____________________________________ $ 2 0 5,76 5 50
U n ite d S tates T ru s t C o ., T erre H a u t e ____________________________ 202 ,2 0 0 00
J o s. T . E llio tt & S o n s ____ ______________ ____________________________ 200 ,103 81

The bonds are dated Aug. 2 1907 and mature $10,000
yearly on Sept. 1 from 1912 to 1931 inclusive.
Terrell, K aufm an County, T ex .— Bonds Authorized.— The
City Council recently passed an ordinance providing for the
issuance of $15,000 electric-light-plant-construction bonds, -j




[V o l .

lxxxv

T hom pson School D istrict No. 2 (P. O. Thom pson),
Saunders County, M ont.— Bonds Not Sold.— No satisfactory
bids were received on July 27 for the $15,000 4 % 5-15-year
(optional) coupon school-building bonds described in V. 85,
p. 118.
Tiffin, Seneca County, Ohio.— Bond Offering.— Proposals
will be received until 1 1 a . m . Aug. 29 b y the Board of Trus­
tees of the Sinking Fund for $25,000 4 % coupon refunding
bonds. A u th ority Section 113-115, Municipal Code, and a
resolution adopted b y the Board of Trustees on July 25 1907.
D enom ination $1,000. Date Sept. 1 1907. Interest semi­
annually at the office of the Board of Trustees. Maturity
Sept. 1 1922. Bids to be made on form s furnished b y the
Secretary of the Board of Trustees. An unconditional cer­
tified check for 5 % of bonds bid for, payable to John F.
Diemer, Secretary, is required. Accrued interest to be paid
b y purchaser.
Tulsa, In d. Ter.— Bond Offering.— Further details are at
hand relative to the offering on Aug. 19 of the $30,000 school
and the $25,000 sanitary sewer 5 % gold coupon bonds men­
tioned in V. 85, p. 365. Proposals will be received until
8 p. m. on that day b y O. P. Jones, City Recorder. D enom i­
nation $1,000. Date Aug. 15 1907. Interest semi-annual.
Maturity Aug. 15 1927. Bonds are tax exem pt. Certified
check for $2,500, payable to O. P. Jones, City Recorder, is
required.
Tw o Harbors, Lake County, M inn.— Bond Sale.— On Aug.
5 the $40,000 5 % 20-year coupon sewage and drainage
bonds described in V. 85, p. 180, were awarded to the T row ­
bridge & Niver Co. of Chicago for $40,801 50— the price
thus being 102.003— a basis of about 4.8 43% .
Van W ert County (P. O. Van W ert), Ohio.— Bond Offer­
ing.— Proposals will be received until 1 p. m. Aug. 20 by W .
H. Troup, County Auditor, for $18,000 4>£% ditch-im provement bonds. A uthority Sections 4481 and 4482, Revised
Statutes. Denom ination $1,000. Date Sept. 4 1907. In ­
terest semi-annually at the county treasury. Maturity
$6,000 yearly on Sept. 4 from 1908 to 1910 inclusive. Bonds
are exem pt from all taxes. Certified check for $500, drawn
on some bank in Van W ert, and payable to the County Com­
missioners, is required. Bonded debt, not including this is­
sue, $91,562. Floating debt $15,348. Assessed valuation
for 1906 $13,074,370. Purchaser to furnish blank bonds.
W a co, M cLennon County, T ex.— Bonds Registered.— On
Aug. 9 the State Comptroller registered the $60,000 5% 30year sewer bonds awarded on May 16, as stated in V. 84, p.
1267, to the Harris Trust & Savings Bank of Chicago.
W adsw orth School D istrict (P. O. W adsw orth;, Medina
County, O hio.— Bond Sale.— On Aug. 9 the $65,000 4 1 %
^
coupon school bonds described in V. 85, p. 180, were awarded
to W eil, R oth & Co. of Cincinnati at 102.20. Following are
the bids:
W e ll, R o t h & C o ., C ln ___$66 ,4 3 0 0 0 i H a y d e n , M iller & C o . . C l e .$ 6 5 ,8 2 7 00
S e a s o n g o o d & M a y e r, G i n . . 66,140 00| W . J. H a y e s <c S on s. C l e . . 65,801 00
3
Breed & H a rris o n , C i n c i n .. 66,1 3 7 5 0 ' N ew 1st N a t. B k . C o l u m . 65,5 1 3 00

Maturity $1,000 each six months from March 1 1912 to
Sept. 1 1916 inclusive, $2,000 each six months from March 1
1917 to March 1 1930 inclusive and $1,000 on Sept. 1 1930. t-j
W alla W alla, W alla W alla County, W ash .— Bonds Refused
— We are advised that the $ 100,000 20-year gold coupon
city-hall and fire-station bonds awarded on May 14 (V. 84,
p. 1201) to the Harris Trust & Savings Bank of Chicago have
been refused b y that institution.
W allingford, Conn.— Bond Sale.— This borough ha?
awarded $5,000 4J^% bonds due in 1908 to the Middletown
Savings Bank of Middletown.
W alnut Springs Independent School D istrict (P. O. W al­
nut Springs), Bosque County, T exas.— Bonds Voted.— This
district on Aug. 3 authorized the issuance of $15,000 5%
40-year school-building bonds b y a vote of 136 to 22.
W althill School D istrict No. 13 (P. O. Pender), Thurston
County, N eb.— Bond Offering.— Proposals will be received
until Aug. 30 b y Cecil R . Boughn, Secretary, for $12,000
5 % registered school-house bonds. Denom ination $ 1,000.
Date Sept. 1 1907. Maturity $1,000 yearly on Sept* 1 from
1912 to 1923 inclusive, unpaid bonds being subject to call
after 10 years. Certified check for $500, payable to Mrs. H.
L. K eefe, Treasurer, is required. Bonded debt, this issue.
Floating debt, $300. Assessed valuation 1907, $141,000.
W ayne Tow nship School D istrict, Champaign County,
Ohio.— Bond Offering.— The Board of Education, C. L.
R eed, Clerk (P. O. M ingo), will offer at public auction at 2
p. m. Aug. 30 $1,900 6% public-school-property-im provement bonds. Denom ination $100. Date Aug. 30 1907.
Interest semi-annual. Maturity Aug. 30 1908.
W estfield (T ow n), Clark County, 111.— Bond Sale.— An
issue of $2,000 5 % bridge-building bonds dated Aug. 1 1907
was awarded on July 27 to J. B. L ow ry at 100.75. D enom i­
nation $500. Interest anhually on April 1. Maturity $1,000
on April 1 in each of the years 1908 and 1909.
W estfield (Village), Clark County, 111.— Bond Sale.— On
Aug. 1 $2,000 5 % sidewalk-construction bonds offered on
July 27 were awarded to Charles Lee at par. Denomination
$ 1,000. Date Aug. 1 1907. Interest semi-annual. Ma­
turity $1,000 on Aug. 1 in each of the years 1909 and 1910.
W est Salem, La Crosse C o u n t y /W is .— B on d Offering.
Postponed.— The offering of the $3,000 5 % water-works
bonds which was to have taken place Aug. 6 (V . 85, p. 304)
has been postponed to Sept. 3.
. . . .

A U G . 17 1907 J

THE CHRONICLE.

W harton County (P. O. W harton), T ex as.— Bonds Regis­
tered.— On Aug. 7 $20,000 4 ^ % 10-40-year (optional) bridge
bonds were registered b y the State Comptroller.

W orcester, M ass.— Temporary Loan.— This place has ne~
gotiated a loan of $200,000 with Kissel, K innicutt & Co. a t
5 % discount. Loan matures O ct. 15 1907.

W heatland, Laramie County, W y o .— Bond Offering.—
W yan dotte, W ayne County, M ich.— Bond Offering.— Pro­
Proposals will be received until 7 p. m ., Sept. 2 , b y S. G. posals will be received until 7:30 p. m . Aug. 21 b y Jas. G.
Hopkins, Tow n Clerk, for $25,000 6% water-system bonds. Pinson, City Clerk, for the $20,000 4J^% m unicipal-electricAuthority, Chapter 15, Division 1, Title 2 , Revised Statutes light-plant-extension bonds voted , as stated in V . 85, p. 367,
of 1899, and election held recently. Denom ination $500. on July 29. A u th ority an A ct of the Legislature approved
Interest annually on Jan. 1 at some national bank in New June 12 1907. D enom ination $1,000. Date Sept. 1 1907.
Y ork City. Maturity thirty years, but subject to call at Interest semi-annually at the W yandotte Savings Bank of
least one-twentieth yearly after ten years. Certified check W yandotte. Maturity Sept. 1 1937. Certified check, paya­
or cash for $300 is required. Purchaser to have bonds ble to the “ City of W y a n d otte,’ is required. Purchaser to
printed at his own expense.
pay accrued interest. Bidders to name price for furnishing
W hite Plains Union Free School D istrict No. 1 (P. O. blank bonds.
W hite Plains), W estchester County, N. Y .— Bond Offering.
W yan dot County (P. O. Upper Sandusky), O hio.— Bond
— Proposals will be received until 8 p. m ., Aug. 20, b y Guy Sale.— The follow ing bids were received on Aug. 13 for the
H. Baskerville, Clerk Board of Education and Superintendent $4,800 5 % road-im provem ent bonds described in V. 85, p .
of Schools, for $220,000 school bonds. Interest (rate to be 305:
named in bid) payable in New Y ork Exchange. M aturity C o m m .N .B k ., U p p . S an d .$ 4 ,9 5 2 50 |H a y d e n M ille r & C o C l e v e . . . 5 4 , 8 5 8 50
on Jan. 1 as follows: $6,000 in 1908, $9,500 yearly from 1909 P a rk S to k le y , S y c a m o r e — 4 ,8 8 7 50 |S e c u r ity S a v in g s B a n k &
to 1912 inclusive, $10,500 yearly from 1913 to 1917 inclusive, F irst N a t. B k ., U p p . S a n d . 4 ,8 8 4 48 f T r u s t C o ., T o l e d o ________ 4,8 5 2 50M aturity $960 yearly on Jan. 1 from 1909 to 1913 inclusive.
$11,500 yearly from 1918 to 1922 inclusive, $12,500 yearly
from 1923 to 1927 inclusive and $3,500 in 1928. Certified
Y oun gstow n , Ohio.— Bids.— The follow ing bids were re­
check on a State or national bank or trust com pany for 5 % ceived on Aug. 12 for the seven issues of 5 % sewer and pav­
o f bid is required. Bonded debt at present, $76,250.
ing bonds described in V. 85, p. 182:
W ichita Falls, W ichita County, T ex .— Bond Election.— An
$1,2 2 5
$ 1 3 ,3 1 5
$ 8 ,300
529 ,570
M c K in n ie S t . Ohio A v . N o .H e ig h ts A v . F ifth A v .
election will be held Sept. 9 to vote on the question of issuing
sew er bds. p av'g bds.
pav'd bds.
p a v’g bds.
$20,000 sewer and $15,000 city-hall bonds.
W . J . H a y e s & S o n s , C le v e _ $ l,2 4 1 20 $13 ,452 00
$8,411 00
$30 ,147 00
8,497 00
3 0 ,457 00
e ll,
h
.,
n ati
W illiam sburg, James City Co., V a .— Bond Sale.— On Aug. W a y d eR o tM & C o & C in cin lev e _______ __ 13,590 30
H
n,
iller
C o ., C
_______ __ 13,582 56
8,4 9 3 40
30,454 77
115 the $18,000 5% 30-year public-im provem ent bonds m en­ S e c. S a v . B k .& T r .C o ., T o l . ---------------13,580 50
8,4 6 8 00
30,4 3 6 00
n o
in
13,574 65
8,461 85
3 0 ,146 62
tioned in V. 85, p. 244, were awarded to the Peninsula Bank S e a s o& gHo d g& ,M aly e r, l C n d_ . _______. __ 13,507 00
O tis
ou h C e v e a
..
._
8,4 3 8 50
30,2 7 5 00
o f Williamsburg at par and accrued interest. Date Oct. 15 N ew F irst N a t. B k ., C o lu m . 1,226 00 13,380 00
8,3 8 5 00
30,0 4 0 00
D e n iso n & F a r n s w o r t h , C le .
_______ __ ____________
_______
3 0 ,428 30
1906. Interest semi-annual.
$ 1 ,3 3 0
$ 1 ,3 2 0
1,360
W ooster, W ayne County, Ohio.— Bond Sale.— On July 20
F lo ren ce A v .
B u tler A v
W ic k A v .
„ „
„
grading bonds, grading bonds, c lea r'g b d s.
the $9,500 4 % College Avenue im provem ent assessment _ _ , TT
.
&
, C
la
$1,337 50
51,3 6 3 40
bonds maturing $500 on July 15 1908 and $1,000 yearly on W a hJ. n H a y e sa tio S o n sB a nle v eY on d ______$ 1,347 60
M
o in g N
nal
k,
u n g s t ’n
_______
_
l 365 00
1,321 25
1,360 7 5
July 15 from 1909 to 1917,inclusive, and the $3,000 4*^% N e w F irst N a t. B a n k , C o lu m b u s '.___ 1,331 00
street-paving (city’s portion) bonds maturing July 15 1917
W e are inform ed that the City Council has adjourned until
were awarded to the ^W ayne^County National Bank of Aug. 26, when action will probably be taken on the above
bids.
W ooster.
• • L'tfV*

N E W LOANS.
$ 25,000

N EW LOANS
895,000

N E W LOANS.
§ 35,000

CITY OF HOBOKEN, N. J, City of Mount Vernon, N. T. SCHOOL DISTRICT No, 32,
WATER BONDS.
P u b lic n o t ic e ? Is h e r e b y ^ g iv e n In a c c o r d a n c e
w ith th e fo llo w in g re s o lu tio n o f th e C o u n cil o f th e
C ity o f H o b o k e n , passed on th e 24th d a y o f J u ly ,
1907, an d d u ly a p p ro v e d o n th e 27th d a y o f J u ly ,
1907.
R e s o lv e d , T h a t th e C ity C lerk be and he Is
h e r e b y d ir e cte d t o a d v e rtis e a c c o r d in g t o law fo r
th e p u rch a se o f $ 9 5 ,0 0 0 W a te r B o n d s , t o run
t h ir t y (30) y ea rs fro m d a te o f Issue, a n d t o b e a r
Interest at th e rate o f 4
per cen t per ann um ,
p a y a b le se m i-a n n u a lly , said b o n d s t o b e issued
u n d er an d b y v ir tu e o f an A c t o f th e L e g islatu re
o f th e S ta te o f N ew J e r s e y , e n title d ‘ A n A c t to
a u th oriz e cities o w n in g th eir ow n w a te r m ains
t o la y o r e x te n d n ew o r a d d itio n a l w ater m ains
a n d t o issue b o n d s In p a y m e n t t h e r e o f,” a p ­
p r o v e d M ay 7 , 1907.
T h a t sealed p rop o s a ls fo r th e p u rch a se o f b o n d s
o f th e C ity o f H o b o k e n , t o be k n o w n as " W a t e r
B o n d s ," t o t h e a m o u n t o f n in e ty -fiv e th o u sa n d
d olla rs ($ 9 5 ,0 0 0 00)., and t o run fo r a p e rio d o f
t h ir t y (30) yea rs fro m d a te o f Issue, registered
o r c o u p o n , a t th e o p tio n o f th e b id d e r , w ill be
r e ce iv e d at th e regu lar m e e tin g o f th e C ou n cil
t o be held o n W E D N E S D A Y E V E N I N G , A U G .
2 8 , 1907, at E I G H T O ’ C L O C K .
B id d ers m u st sta te p rices o n b o n d s be a rin g
Interest at th e ra te o f fo u r an d o n e -h a lf p e r c e n t
per an n u m , p a y a b le s e m i-a n n u a lly .
A ll p rop os a ls m u st be d ir e cte d t o th e M ay or
a n d C ou n cil o f th e O tty o f H o b o k e n , and shall be
a c c o m p a n ie d b y a ce rtifie d c h e ck fo r o n e th o u sa n d
($ 1 ,0 0 0 00) d olla rs.
T h e M a y o r and C o u n cil reserve th e rig h t to
r e je c t a n y o r all b id s if de e m e d in th e Interest o f
th e c it y so t o d o .
u. B y o rd e r o f th e C o u n cil.
^
J A M B S fH . L O N D R I G A N , C ity C lerk.

# 96,000

T h e C o m m o n C o u n c il o f th e C ity o f M o u n t
V e r n o n w ill a t Its c h a m b e r s . In th e L u ca s B u ild ­
in g , D e p o t P la c e , in th e C ity o f M o u n t V e r n o n ,
N . Y . , o n th e 2 0 T H D A Y O F A U G U S T , 1 9 0 7 ,
A T 8 O 'C L O C K P . M ., r e c e iv e se a le d p ro p o s a ls
fo r t h e p u rch a s e o f b o n d s t o b e d e n o m in a te d
“ H lg h w a y ilm p r o v e m e n t B o n d s ,” n u m b e r e d c o n ­
s e c u t iv e ly fro m 791 t o 815 In clu siv e ; e a ch b o n d
t o b e f o r th e p rin c ip a l sum o f $ 1 ,0 0 0 .
T h e said C o m m o n C o u n cil w ill th e n a n d th e re
o p e n su ch p r o p o s a ls a n d a c c e p t tlie m o s t f a v o r ­
a b le t h e r e o f, unless It d e e m it fo r th e best in terests
o f th e c it y t o r e je c t a n y o r all o f said p r o p o s a ls .
T h e se b o n d s w ill be fo r th e p rin c ip a l sum o f
O n e T h o u s a n d D o lla rs w ith in terest c o u p o n s
a t t a c h e d , a n d w ill be a r in te re st at th e ra te o f
fo u r p e r c e n tu m p e r a n n u m ; p a y a b le s e m i­
a n n u a lly a t th e o ffic e o f th e C ity T re a su re r o f
th e C ity o f M o u n t V e r n o n .
T h e y w ill be d a te d
th e first d a y o f S e p te m b e r 1 90 7, a n d p a y a b le
as fo llo w s , t o w it:
$5,0 0 0 o n th e first d a y o f S e p t ., 1938
$5,0 0 0
.............................................
1939
$ 5 ,0 0 0
..................................
“
1940
$5,000
.............................................
1941
$5,0 0 0
.............................................
1942
T h e b o n d s w ill b e d e liv e re d t o th e p u rch a ser
on th e 3rd d a y o f S e p te m b e r 1907.
E a ch b id fo r said b o n d s m u st b e a c c o m p a n ie d
b y a ce rtifie d c h e c k fo r th e sum o f O n e T h o u s a n d
($ 1 ,0 0 0 ) D olla rs as a g u a r a n ty o f g o o d fa ith on
th e p a rt o f th e b id d e r.
B on d s w ill b e en g ra v e d u n d e r th e su p e rv isio n
o f an d ce rtifie d as t o th e ir gen u in en ess b y th e
U n ite d S ta tes M o rtg a g e & T ru st C o m p a n y , an d
th e ir le g a lity a p p r o v e d b y J. H . C a ld w e ll, E s q .,
o f N ew Y o r k C ity , w h o se o p in io n as t o le g a lity
w ill b e fu rn ish ed t o th e p u rch a ser.
B y sta tu te th e b o n d s c a n n o t b e so ld fo r less
th a n p a r a n d a c c r u e d in terest.
Dated Mount Vernon, N . Y . , A u g u s t 6 th , 190 7.
A. W . REYNOLDS,
E D W A R D F. BRU SH ,
City Clerk.
M a y o r.

CITY OF PONTIAC, MICH. ER V IN
PAVING BONDS.

Sealed b id s fo r th e p u ic h a s e o f $ 2 6 ,0 0 0 five p e r
ce n t P a v in g B on d s o f th e C ity o f P o n tia c , M ic h .,
o f th e d e n o m in a tio n o f $5,0 0 0 an d $ 1 ,0 0 0 , m a tu r ­
in g as fo llo w s : $ 5 ,0 0 0 o n N o v e m b e r 1st, 190 8,
a n d $5,0 0 0 ea ch y e a r th e r e a fte r fo r fo u r y e a rs
an d $ 1 ,0 0 0 six years t h e r e a fte r , w ill be r e c e iv e d
a t th e o ffic e o f th e C ltv C lerk o f said C ity u p t o
7:30 O ’ C L O C K P . M ., M O N D A Y , A U G U S T 19,
1907.
A ll b id s m u st b e a c c o m p a n ie d b y a c e rtifie d
c h e c k o f t w o h u n d red ($200) d o lla rs , p a y a b le t o
th e C ity T rea su rer o f said C ity , w h ich c h e c k w ill
b e fo rfe ite d t o said C ity fo r th e be n e fit o f th e
C o n tin g e n t F u n d u p o n fa ilu re o f th e p e rs o n o r
p erson s w h ose b id is a c c e p t e d t o c o m p le te th e
p u r c h a se .
T h e C o u n cil reserves t h e l r i g h t t o r e je c t a n y
a n d all b id s.
D a te d A u g . 9 th , 1907."**
____ -I O S E P H -H . T H O R P E .
C it y C lerk.




HARTSVILLE, S. C.

H I G H WA Y I M P RO V E M E N T BONDS.

& COMPANY,
BANKERS,

M

b

(N ew York 8tock Exchange,

5% NON-TAXABLE COUPON BONDS.
S ealed p ro p o sa ls w ill b e r e c e iv e d b y th e B oa rd
o f T ru stees o f S ch o o l D istrict N o . 32, e m b ra cin g
th e to w n o f H a rtsv llle , S. C ., u n til 12 o ’ c lo c k
n o o n o f th e 20th d a y o f S e p te m b e r 1907 fo r th e
p u rch a se o f T w e n t y -F iv e
T h o u sa n d
D olla rs
five p er ce n t n o n -ta x a b le c o u p o n b o n d s , to be
d a te d J u ly 1st, 190 7, a n d p a y a b le 20 y ea rs a fter
d a te .
In terest p a y a b le J a n u a ry th e 1st an d
J u ly th e 1st o f ea ch y e a r at th e B a n k o f H artsv ille , H a rtsv llle , S. C. T h e p u rp o s e o f this
Issue o f b o n d s Is t o m eet th e co s t o f co n s tr u c tin g
an d e q u ip p in g a n ew sch o o l b u ild in g in th e said
to w n fo r t a e use o f th e said sch o o l d is tric t.
C ertified ch e c k fo r $ 1 ,0 0 0 0 0 , p a y a b le to th e
o rd e r o f M . S. M cK in n o n , C h a irm a n , to a c c o m ­
p a n y all b id s an d to b e fo rfe ite d in case o f failure
o f p u rch a ser to c o m p ly w ith his b id .
N o b id s fo r
less th a n p a r an d a ccru e d in terest w ill b e c o n ­
sid ered , an d e a ch b id m u st in clu d e e x p en ses o f
lith o g ra p h in g an d issu an ce o f b o n d s a n d all oth er
e x p en ses.
R ig h t reserved t o r e je c t a n y o r all b id s.
A d d ress all b id s t o “ B oa rd o f T ru stees S ch o o l
D is tr ic t N o . 32, H a rtsv llle , S. C . , ” a n d en d orse
p la in ly o n th e e n v e lo p e th e w ord s “ B id fo r b on d s.
F o r fu rth e r In form a tion a p p ly t o th e C h a irm a n .
M . S M c K fN N O N , C h airm an .
J. E . M IL L E R ,
\
J . J . L A W T O N , J T ru stees.

R.

L.

DAY

&

C O .,

BANKERS,
35 Congress Street,
BOSTON.

37 Wall Street,
NEW I0R K .

New York City Bonds
E X E M P T FBODI S T A T E , CO U N TY
AND C IT Y T A X E S

t Philadelphia Stock Exchange,

BO N D S

FOR

43 Exchange Place,
Hew York

IN V E S T M E N T
Drexel Building,
Philadelphia.

William D. Marks, Ph. B.C.E.
Consulting Engineer and Statistician.
GAS W ORKS
ELECTRIC L I '-H T WORKS,
BLKCTRI
R A IL W A Y S . OIL M oT O R CARS.
6183 P a k R o w B id s .
N e w V o r k C it y .
Ex p erien ced in M u n ic ip a l C auses.

Albert Kleyboite & Co.
409

W a ln n t

Street,

C IN C IN N A T I, © .

Municipal,
County,
State,
and H ig h -G r a d e

P u b lic
S e c u rities

Correspondence Solicited

S erv ic e

432

THE CHRONICLE.

[V o l,

lxxxy

.

Twist ©orapauies.

MercantileTrust Co. C ITY TRUST CO. O LD C O L O N Y
M em ber

S t. L o u is , M o
S t. L ou is C learing H ou se

50 ST A T E S T R E E T . BO STON . M ASS.

A s s o c ia tio n

F E S T U S J ,W A D E .
P resid en t.

Capital & Surplus, -

W M . M A F F IT T ,
T reasu rer

RESOURCES
N o v .1 6 ,1 8 9 9
$ 1 ,6 6 7 ,0 5 1 19
N ov. 1 6 . 1900
$ 4 ,4 2 9 ,4 4 8 02
N ov. 16, 1901
$ 1 1 ,7 8 0 ,4 1 8 95
16,

1902
$ 2 1 ,8 8 2 ,7 3 4 64

N ov .16,1903 S21.756.471 73
N ov. 16,1904 $26,508,716 93
N ov. 16, 1905

$27,292,163 57

N ov. 16, 1906, $27,984,599 63

-

$2,000,000

BA N K IN G , SAVINGS AN D
D EPARTM ENTS.

BOSTON. M A S a

Transacts a General Trust
Banking Business.

and

In te r e s t A llo w e d o n D e p o s it s S u b je c t to C h e ck
A c t s a s T r u s te e u n d e r R a ilr o a d a n d o th e r
M o r tg a g e s a n d is a u t h o r iz e d to a c t a s E x e c u to r ,
G u a rd ia n , A d m in is t r a to r a n d T r u s te e .

Capital - ^
.
Surplus (Earned)

$ 1,000,000

2 , 000,000

TRUST

Girard Trust Company;
C A P IT A L and SURPLUS, $10,000,000.
C H A R T E R E D ' 183 6.
Acts as Executor, Administrator, Trustee.
Assignee and Receiver.
Financial Agent for individuals or
Corporations.
Interest Allowed on individual and
Corporation Accounts.
Acts as Trustee of Corporation M ortgages.
Depositary under Plans of Reorganization.
Registrar and Transfer Agent.
Assum es entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.

C H A R L E S E . R O G E R S O N , P re sid e n t.
J A M E S L O N G L E Y , V ic e -P r e s id e n t.
W I L L I A M C. W I L L I A M S . V ic e -P r e s ’t.
G . E . G O O D S P E E D , T reasu rer.
W . L . W H I T N E Y , A s s t. T reasu rer.
H E N R Y A . F E N N , S e c .& M g r .S a fe D .D ’t.
H . D . H E A T H F I E L D , A ssista n t S e c.
F . J . B U R R A G E , A ssista n t S e cre ta ry .

A D AM A. STU LL, President.
H E N R Y G. B R E N G LE , 1st Vice-Pres. < Treas urer.
fc
JO S. 8 . C L A R K , 2d Vice-Pres., Superv"g Trust Dept.
CH A3. P. L IN E A W E A V E R , Sec, «fc Asst Trust Officer
DIRECTORS.
H enry G. Brengle,
J. Levering Jones,
James Crosby Brown, Malcolm Lloyd.
John Cadwalader.
John M cllhenny,
E. W . Clark Jr.,
Richard Wain Melrs,
Eckley B. Coxe Jr..
Clement B. Newbolii.
Edwin S. Dixon.
John W. Pepper.
Eugene L . Ellison.
W< liam F. Re:id,
Joseph C. Fraley.
Frank Samuel,
Harry C. Francis.
Adam A. Stull,
H enry L . Gaw, Jr.,
Edward D. Toland,
Howard S. Graham.
Joseph R. Wainwrlght,
Samuel F. Houston.
William D. Winsnr.




C A P IT A L , $1 ,0 0 0 ,0 0 0

SU RPLUS

$ 2 ,0 0 0 ,0 0 0

Safe D eposit Vaults'
Autharlzed to aot as executor and to receive and
hold m oney or property in trust or on deposit from
Courts of Law or E quity, Executors, Administrators.
Assignees, Guardians. Trustees. Corporations' and
Individuals.
Also acta as Trustee under Mortgages and as Transfer
Agent and Registrar of Stocks and Bonds.
interest Allowed on Deposits Subject to Check.
OFFICERS.
D A V ID R . W H IT N E Y , President.
CH A RLE S H . D A LT O N . Vice-President.
CH A R LE S F CH O ATE. Vice-President.
F R A N K L LS H AV EN . Vice-President,
J A M E S R . H O O PE R . Actuary.
• H E N R Y N . M A R R , Secretary .
• • f R E D K W . A L L E N . A sst.sec.& T reas.
• \
THOMAS E . EA TO N , Asst. Treasurer.
• ■
FR AN CIS R . JE W E TT . Trust OUloer
• • BOARD OP DIRECTORS
IV)
U ULiill
William Endicott, Chairman.
Walter C. Baylias.
Frederick P . Fish,
Alfred Bowditch,
Morris Gray,
Charles F . Choate,
Franklin Haven,
Alexander Cochrane,
James R . H ooper,
Edmund D . Codman,
James M. Prendergast,
T. Jefferson Coofldge.
George S . Silsbee,
Charles H . Dalton,
Lawrence M. Stockton,
George Dexter.
Nathaniel Thayer,
Philip Dexter,
George Wiggles worth.
William TarrHwro-th.
David R . Wiiltnev

,

Fourth & Pine Sts., St. Louis
A

C A P IT A L , S U R PLU S
,000 .
and
G EN ER AL FIN AN CIA L AN D F ID U C IA R Y
BUSINESS TRAN SACTED

T h e Trust Company
of North America
50 3 -5 0 5 -5 0 7 Chestnut St., Philadelphia.

B O A R D OF D I R E C T O R S5
T . J e f f e r s o n C o o l id g e J k ........................C hairm an
G ord on A b b o t t,
H e n r y S» H o w e ,
O liv e r A m e s,
W a lte r H u n n e w e ll,
C. W . A m o r y ,
T h o m a s L. L iv erm ore,
C harles F . A y e r ,
C h arles - . -vi ellen ,
Sam uel Carr,
G e o rg e v . L . M eyer,
B. P . C h en ey,
L a u r e n c e M in ot,
T . J e ffe rso n C oolidge,
R ic h a r d O lney,
R o b e r t J . P a in e, 2d,
C harles E. C ottin g,
P h ilip D e x te r ,
P h ilip L. S alton stall,
E b e n S. D raper,
N a th a n ie l T h a yer,
F r e d e r ic k P . F is h ,
L u ciu s T u ttle.
S tep h en M . W eld ,
R e g in a ld F o s te r,
G e o rg e P G ardn er,
C h a rles W . W h ittie r .
R o b e r t F . H e r r ic k ,

Mississippi Valley Trust Co.

DIRECTORS
E . B . M O R R I S , P re sid e n t.
John I. Beggs
D . R. Francis
R . J. O 'Reilly,M D
W . N . E L Y , 1st V ice -P re s id e n t.
Wilbur F . Boyle August Gehner
Henry W . Peters
A . A . J A C K S O N , 2d V ice -P re s id e n t.
James E. Brock S. E. Hoffman
H. Clay Pierce
C . J . R H O A D S , 3d V ice -P re s . a n d T reasurer
Murray Carleton Chas. H . H uttig J. Ramsey Jr.
E D W A R D S. P A G E , S e cre ta ry .
Charles Clark
Breckin’ge Jones James E. Smith
M A N A G E R S:
: H oratio N, Davis W . J. McBride
R obt. H. Stockton
E fflin g h a m B . M orris,
C. H a r tm a n K u h n ,
John D. Davis
Nelson W. McLeod Julius S. Walsh
J o h n A . B row n Jr.
Jam es S p e y e r,
Aug. B. Ewing
Saunders Norveil Holla Wells
B en ja m in W . R ich a rd s
A u g u s tu s D . Ju illla rd
W m . D. Orthwein
J oh n B G a rrett,
E d w a rd J . B erw ln d ,
OFFICERS
W U llam H . Jenks,
R a n d a l M orga n ,
JU LIU S S. W A L SH , Chairman of the Board
E d w . T . S to te s b u r y ,
W illia m H . G a w ,
B R E C K IN R ID G E JONES. President
Charles E . In gersoll,
F ra n cis I . G o w e n ,
JOHN D. D A V IS . Vice-President
G eo. H . M cF a d d e n .
J o h n S to r y Jen k s Jr.
SAM UEL E. HOFFMAN. Vice-President
H en ry T a tn a il,
H en ry B . C ox e Jr.
JAMES E. B R O C K , Secretary
E . C. F e lto n .
Issa c H . C loth ier.
HUGH R. L Y L E . Asst. Secretary
T h o s . D e W it t C u yler
H E N R Y C. IBBQTSON, Asst. Secretary
N. E . Cor. Broad and Chestnut Streets,
C. H U N T T U R N E R Jr.. Asst. Secretary
LO U IS W . F ltlC K E , Asst. Secretary
P H IL A D E L P H IA .
F R E D E R IC K VIE R LIN G , Trust Officer
H E N R Y SEM PLE AM ES. Asst. Executive Officer
CH ARLES M. P O L K , Asst. Trust Officer
W ILLIA M G. LA C K E Y , Bond Officer
WM. McC. M AR TIN . Asst. Bond Officer
TOM W . BEN N ETT. Real Estate Officer
GEO. K IN G SLA N D . Asst. Real Estate Officer
C. W . M OR ATH . Safe D eposit Officer

C A P I T A L ........................................................ $ 1 ,0 0 0 ,0 0 0

TRANSACTS
A GENERAL
B A N K IN G
B U S IN E S S .
ALLOW S I N T E R E S T
ON
D A IL Y
BALANCES
SUBJECT
TO
CHECK.
T R U S T E E U ND ER MORTGAG­
ES.
TRANSFER
AGENT.
R E G IS T R A R .

BOSTON, MASS.

Trust Company

900,000

CH ARLES G . D A W E S . President.
W . IR V IN G O SBO RN E. Vice-President.
A . U H R LA U B . Vice-President.
W ILLIA M R . D AW E S, Cashier.
L . D . SK IN N E R , Asst. Cashier.
W ILLIA M W . G ATE S, Asst. Cashier.
A . G . MANG, Seerotary.
MALCOLM M cD o w e l l . Asst Secretary.

* $7,000,000
*

Boston Safe Deposit TRUST COMPANY,
AND

CENTRAL
TRUST COMPANY
OF ILLINOIS,
Capital, - - = Surplus and Profits

Capital and Surplus,

The NEW ENGLAND

The Proof cf Good Service i3 Constant Growth

CHICAGO-

BOSTON, MASS.

- $4,000,000

T ra n sa cts a General T ru st and
B a n k in g B u siness
In te re st A llo w e d o n D e p o s its S u b je ct to CheckA cts a t T ru stee under R ailroad and o th e r M ort­
g a g e s ; also as A g e n t fo r the R e g iste rin g
and T ra n sfer o f Stock.
A legal D e p o s ita r y fo r C o u rt F u n d s , an d a u th o r ­
ized t o a c t as E x e c u to r , G u ard ian , A d ­
m in istrator a n d T rustee.
D IR E C T O R S .
P H I L I P S T O C K T O N , P resid en t.
Charles F . A d a m s 2d.
G e o rg e E . K e ith ,
O rla n d o H , A lfo r d .
G ardin er M . Lane.
F . L o th r o p A m es.
A rth u r L y m a n ,
J o h n S. B a rtle tt,
M axw ell N orm an ,
Charles E . C ottin g.
R o b e r t T . P a in e 2d,
A lv a h C ro ck e r,
A n d re w W . Preston.
L iv in g s to n Cushing.
R ic h a r d S. Russell.
G e o rg e A . D ra per.
H o w a rd S to ck to n .
W illia m F . D raper.
Charles A . S tone,
W llm o t R . E vans.
G alen N . S to n e ,
F re d e rick P . F ish.
Q u in cy A . S haw J r .,
R o b e r t F . H e rrick ,
N a th a n iel T h a y e r,
F ra n cis L. H lg g ln so n ,
H e n ry O . U n d e rw o o d ,
H e n r y C . Jack son .
W . S ew ard W e b b .
S id n e y W . W in slow .

Commenced business Nov. 16, 1899

N ov.

T R U S T CO.

B U N K E R H IL L BRANCH :
City Square. C H A R L E S T O W N . M ASS.

Capital and Surplus, $9,500,000

Maryland Trust Co.
B A L T IM O R E .

CAPITAL,

-

-

$2,000,000

D IR E C T O R S
Joslah L . B la c k w e ll
G rier H ersh ,
G . C lym er B ro o k e ,
G e o rg e C . Jenkins,
H . C a rroll B row n ,
Jo sh u a L everin g,
J o h n W . C astles,
O scar G . M u rray,
J o se p h R . F o a r d ,
H e n r y F . S h oem a k er,
B . H o w e ll G risw o ld J r ., Jam es S p ey er,
A . B a rto n H e p b u rn ,
D ou gla s M. W y lie .
J o h n T . H ill,
L . S . Z tm m erm a n
O F F IC E R S
G R I E R H E R S H --------------------- P resid en t
L . S. Z I M M E R M A N ____ 2d* V fc e -P r e s t.
C A R R O L L V A N N E S S _______ T reasu rer
J E R V I S S P E N C E R J r . . . A sst. T reasu re
I V A N S K I N N E R _______ A sst. S ecreta ry

NOW R E A D Y .

W isconsin T rust Co ,
M IL W A U K E E .
Capita’ ,
Surplus,

- - - - - - - - -

$500,000
100,003

Transacts a General Trust Co Business.
Buys and Sell's
High Grade Investm ent Bonds.
O t^iCfcRS.
O L IV E R C. FU LLER. Prff«idf»nt.
F R E D E R IC K KASTEN. Vice-Pre-ident
G AK D N E R P . fcSTICICNEY Treasurer.
FKEU C. BEST Secr-tarv
R . L. SM ITH, Ass i Secretary

FINANCIAL R E V IE W .
1907 ISSUE.
320 Pages.
A yearly book of statistics covering a
series of years' crop figures, m oney
rates, range of prices for securities, <fcc.
P R IC E ,

TWO

DOLLARS.

Commercial & Financial Chronicle,
7 6 ^ Pine Street, New York.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102