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INCLUDING
Quotation Section
Railway & Industrial Section
Electric
Railway Earnings Section
Bankers* Convention Section
State and
Bank &
Railway Section*
NO. 2510
SATURDAY, AUGUST 2 1913
VOL. 97
Week
Clearings
City Section
ending
July
20.
atInc. or
1913.
PUBLISHED WEEKLY.
Terms of Subscription—Payable in Advance
Cincinnati
Cleveland
18 00
European Subscription (including posto^c)...
European Subscription six months (including postage)
7
£2
£1
$11
Annual Subscription in London (including postage)..
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
50
lis.
11 s.
6Q
Subscription includes following Supplements—
Bank and Quotation (monthly)
Railway Earnings (monthly)
railway and industrial
state and City (semi-annually)
Bankers' Convention
Electric
(3 times yearly)
Railway (3 times yearly)
Terms of Advertising—Per
Transient matter per inch space
(26 times),......
Twelve Months (52 times)
v.
•
„
London Ofpice—Edwards & Smith, 1
5,131,606
Peoria
3,500,000
3,092,862
2,772,772
2,774,310
2,006,000
1,439,529
1,292,355
Grand Rapids—
Evansvilie—<—
Dayton
...
$4 20
Springfield,
22 00
Fort
29 00
Rockford—
50 00
Lexington
87 00
Kalaqiazoo
South Bend
M. Shepherd, 513 Monadnock Bio JtjTeLHarrison 4012.
Chicago Omcf~Oeo.
Columbus
Toledo
Canton
J
(13 times)
six Month8
Milwaukee
Indianapolis
Youngstqwn
(H times).
) Three Months
'
Detroit...—...
Akron
Inch Space
(14 agate lines)
Two Months
r
j
0
aQQ
Standing Business Cards <
(yearly)
,
1,196,847
Wayne...
B. DANA
COMPANY, Publishers,
Front, Pin© and Depeyster Sts..
P. O. Box 958.
icy
Quincy
Published ©very Saturday morning by WILLIAM B, DANA COMPANY,
Jacob Selbert Jr., President and Treaa,; George 8. Dana and Arnold G. Dana.
Vice-Presidents;
Addresses of all, Office of the Company.
Arnold G. Dana. See.
'■m
'
■
a
■
table, made up by tellegraph, Ac., indicates that the
total bank elearinlgs of all clearing houses of
of the
the United
Unite* States for the week
ig.
z
have been 32.943,659,326, against 32,917,154,118 last
week and $3,033,159,061 the corresponding week last year.
following
111.
,
Per
1912.
1913.
Cent.
•
361,941
159,214
Tot. Mid .West
428,400,982
380.383,806
45,125,847
19.730,670
11,208,121
9,741,805
46,803,460
20,022,740
10,776,299
9,000,000
4,996,715
...
Portland
4,663,483
Salt Lake City..
+ 50.1
+ 7.4
+2.4
+ 33.2
+ 10.4
+6.7
+ 12.5
+33.9
+ 17.5
York
4.
Bost-on
... ....
Philadelphia
—P
Baltimore..
2,521,405
3,990,132
1,754,282
124,140,202
+ 3.1
30,181,190
—6.9
236,988,214
57,775,395
13,184,308
+ 1.3
Pasadena
+ 2.6
Stockton
28,111,735
240,680,830
59,258,478
11,747,108
.....
—.—
3,763,720
Taroma..
128,001,645
—
............. _ .
Spokane.,.._rr.
$1,411,334,904
123,680,920
...
Chicago.
St. Louis
—8.2
$1,295,115,325
109,189,822
—
New Orleanst.
—11.7
r-10.9
......
Oakland——?—Sacramento
2,132,181
UiCgO-T"-*T
—19.7
Seven eitjes, 5 dayarr...r,,r..,..r
$1,873,104,943
$1,997,285,633
T
526,284,396
510,491,216
+ 3.1
Other cities, 5 days.
+ 2.4
+54.4
546,324
307.092
+ 16.3
"141,018
+60.2
80,520
+ 12.0
381,608.024
+ 08.0
41,042,664
17,042,134
9,757,544
Total all cities, 5
days
$2,398,389,339
.'
545,269,987
+3.8
$2,943,659,326
' $3,033,159,061
—3.0
All Cities, I day—*
all cities
Total
for week....
The full details for the week covered by the above
will be given next
We cannot furnish them to-day , clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
pf the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
poop, July 26, for four years:
,
10,770,209
8.022,818
10,838,704
7,408,257
DIM MOIrcs
Wichita
4,002,540
6,036,482
3.641.734
8,729,106
0!935!877
ffite::::
Lincoln
Week
eroding July 26,
Topeka
Clearings at-
Cedar
Inc
1912.
1913.
.
or
........
Rapids...
Davenport
1910.
1911.
Dec.
...r.
Waterloo
Helena
New York-..
Philadelphia
Pittsburgh
Baltimore
— -
1,630,330,032 1,558,693.453
r?-.
Buffalo
Washington
t'
Albany..
5,948,736
Rochester
4,020,779
—
Wheeling._
2,592,008
1,673,967
1,589,011
1,957,871
Wllkea-Barre—T_
1,476,247
Trenton..
1,579,462
833,701
1.207,959
1,234,098
Wilmington,,
T...._
York
— — —
Lancaster
Chester
Greensburg
730,445
901,400
Blnghamton....
610,500
Altoona
679,171
367,589
—
JVJontclalr
jm
r,.,tr
2,413,968
1,468,398
1,745,592
*—3.7
2,032,897
+ 7.4
1,374,003
+ 1.2
1,560,764
—3.4
862.730
886,481
+ 86,2
+ 11.0
1,112,935
443,311
+ 64.7
616,094
+ 46.3
697,400
589,553
Net, jncj. in total.
Providence
134,189,597
6,974.800
4,079,330
2,868,810
.....
Hertford
1,659,866
1,405,035
844,027
784,577
826,491
823,024
491,328
752,365
859,060
548,311
411,488
385,630
489,700
612,000
418,302
445,280
+4,5 1,986,Ui.*
153,939,005
6,771,400
—12.8
+ 1.0
+ 16.0
4,175,718
2JS17.8Q7
1,923,094
+ S.0
1,363,434
1,266,275
1,317,573
m
ums- 1,910,433,674 1,828.920,350
Boston
2,118,279,$30
138,330,581
6,623.700
"
Springfield
2,446,608
4,074,804
2,741.944
2,108,447
Portland
2,183,922
2,038,603
+ 7.1
1,677,722
2,446,624
942,193
1,015,938
527,990
550,000
2,184,722
+ 12.0
2,075,809
863,218
726,450
477,080
+ 89.8
083,770
704,377
+
458,688
591,789
—7.1
500,153
449,684
421.211
+6,
625,254]
New Haven....,
.....,T
Worcester
Fell
New
River......
Bedford
Lowell
Holyoke
.
57,685,428
31,945,461
9,819,438
7,027,705
5,737,853
3.762.304,
2,454,789
2,936,593
Seranton
Syracuse
Reading..
Erie
136,091,284
140,390,646
56,951,796
33,787,574
11,728,903
7,282,085
—
%
+4-6 1.738,866,299 1,850,725,864
151,107,458
+ 3.2
129,322,110
—1.3
48,230,959
47,074,516
27,582,740
+ 5.8
80,750,433
10,271,658
+ 19.4
9.231,338
6,500,741
+ 3.6
6,142,038
5,326,208
+ 3.7
5,692,306
3:500,000
8,321,390
+ 6.9
2,462,635
+ 19,6
2,564,464
+ 7.4
2.028,700
1,969,565
1,433,470
+14.0
1,306,845
-*■*8.9
1,533,506
....
Bnngor-,
Tot. New F.pg-
For Canadian
.
„
158,675,501
Clearings see
178,938,9331
''CkmSerclal
+4.6
~
10.5
+10.3
159,196,673
143,499,485
0,510,500
3,918,986
2,397,923
1,051,027
1,795,246
2,004,135
y
692,075
722,161
415,652
479,188
164,288.378
1,691,878
1,491,320
1,519,970
1,540,002
907,378
Fargo:
363,428
Colorado Seringa
641,430
Pueblo.
Fremont
574,749
401,702
P.„
Aberdeen
Hastings
Billings
....
........
852,260
205,000
364,367
274,74
290,000
300,826
.280,000
16,638,882
44,291,518
14,558,822
48,078,067
16,602,052
13,160,807
14,693,432
11,047,167
8,300,580
5,984,933
-~0.2
5,204,012
3,310,453
3,355,907
2,822,801
3,110,41
iSSfe::::
Nashville.,,
Savannah
1,387,096
1,370,067
1,520,344
1.117.735
1,687,342
1,291,861
1,170,135
1.Q70.721
963,395
1,324,440
954,880
1,005,387
888,549
1,235,772
1,118,472
287,753
671,335
536,185
'
Birmingham
.
371,333
254,591
64,434,592
+ 9.2
64,266.378
15,631,368
4-6.2
25,440,863
14,195,628
ll,270jQO6
11,114,469
6,619,551
tt-T13.6
7,472,824
6,227,604
16.6
6,572,000
6,865,068
8,730,000
?:m&
tSSHt2,871,657
7,945,067
7,487,000
5,405,717
5,206,260
2,260,577
3.048,219
2,453,305
1,341,192
2,472,584
2,800,000
1,578,360
1.09$,24
Chattanooga
2,541,736
2,000,35
KnoxvtUe
1,446,141
l.tZr"
Total all
Outside 1/. Y_.
,775,077
3,452,014
3,840;874
8,°
3,024,854
+i7.o
2,030,350
1,8501275
+ 51.2
1,960,984
2,120,475
2,298,24;
1,744,88-
1,203,891
+
4rl2.0
—3.0
m
012.OOO
1,927.548
2,175,097
|451.431
1,194,570
783.039
78.0
+ 78J
605,530
+41.53
1,262,426
1,200,739
1,042,092
$94,000
295,098
*
+
m
?f,3
+ 5.9
—19.0
170,828
294,623
145,643
171,209,142
158,666,637
dtl£
238,437
3,759.
+3.7
rrrlS.O
+ 13.0
1,850,000
578,
6.984,527
4,977,500
3,897,
1,344,398
Mobile.-.—
356,740
i.
1,203,214
1,606,953
...
*
1,544,054
1,316,808
Muskogee
-
1,451,534
A'
Meridian-,-,-,
+ 39.3
*
-^80.7
1,344,152
ApsJJn
+ 9-0
64,934,276
—10.2
Charleston
Tuloa
+
4,985,757
2,717,076
....
123,f
+ 11.7
12,418,443
11,120,029
7,335,162 Nt>* inci. in total.
+9.1
9,567,609
8,771,515
Jacksonville
pkiahoma.PP-,-
Jackson
190,0(
154,527
109,884
110,619,221
2,037,271
2,154,421
P
585,000
485,161
554,405
286,86Q
272,063
Little Rock.,...
Macon........I
.
783,105
526,860
565,393
+ U-5
3,291.175
Norfolk
3,516,984
2,182,907
1,558,770
„
Richmond..,.—
3,528,524
2,046,650
14,666,052
Galveston
2,924.,065
2,240,08*
70,344.671
Atlanta
200,000
16,606,564
New
Vlcksburg
v
480,000
300,000
91,823,382
St,. Louis.,..
Orleaps
529,874
479,075
97,451,922
136,608,824
Louisville
Houston
3,751,106
520,000
377,377
536,472
141,237,807
Tot, oth.West.
Totai Southern
and Miscellaneous New».>r
8,789,948
4,118,033
3,075,007
2,017,419
9,975,019
8,445,387
4,218,664
3,595,491
0,957,138
St. Paul
13,000,000
2,543,204
1,044,161
1.113.000
634,187
Denver PrT—
St. Joseph—
Oipaha.,;fr.„,
41,454,214
■.
3,054,712
46,065,790
City,,;.
Minneapolis
132,426
33,996,
350,837,081
1,395,000
745,087
642,063
796,351
717,923'
431,070
265,777
1,392,759
3,154,874
689,375
•■
333,358
343.703
|
1
2,272,607
19,247,669
16,520,175
10,042,555
Kansas
Saturday .
3,670,988
2,013,677
3,201,048
1,428,342
54,477,770
4.4
$2,507,776,849
525,382,212
315,000
411,195
6,116,438
3,668,671
107,433,008
Reno
745,693
611,899
510,671
487,573
569,625
481,524
854,912
361,533
315,000
$,843,440
107,106,932
North
,
963 393
674.549
420,252
272,910
+?5.3
Y&ktaa-,
'
1,065,192
1,086,762
058,172
401,635
407,308
423,742
366,937
+33.1
+2.4
Total Pacific..
Fresno
San Jose..
t-5.8
,
521.790
905,052
759,623
771,036
577,128
268,348
■_
2,268,070
2,153,860
1,876,373
990,000
555,045
536,871
+26.8
+ 15.5
'
New
"2,041.984
877,274
912,248
823,499
742.091
545,940
464,898
+ 6.Q
399,087
410,585
.380,438
234,550
136,979
26,959
43,181
Los Angeles
Clegrings^Rcfurns by Telegraph,
Week ending Aug. 2.
420,317
601,013
San Franclscol..
Seattle
2,125,700
2,109,888
1,403,000
1,000,513
1,043,656
536,927
440,936
«•
Ann Arbor..,,...
Adrian.,
2,660,225
550,000
357,958
500,000
—r,-T__
Jacksonville,
CLEARING-HOUSE RETURNS.
The
'4.0
+ 51.5
462,673
542,039
406,535
Lansing
Decatur
8,641,770
5,397,000
3,881,749
543,300
687,728
409,520
502,674
Owensboro
Lima
8,440,821
6.056.100
■n
377,340
20,008,011
16,723,099
11,219,785
4.491.101
2,861,892
+ 32.5
.Jackson.,rp_T.r
250,586,007
22,610.750
19,747,917
16,594,841
+2.7
+30.8
—18.4
—... -
270,026,286
21,715,100
+ 15
799,357
Danville
1910,
12,025,600
—10.7
808,318
646,486
504,607
616,249
— — -
sfl»
Mansfield
New York.
+ 12.8
+ 10.5
+ 10.7
+ 18,1
659,763
689,620
577,645
825,000
Springfield, O.
Drapers' Gardens, E. C.
+ 12.6
1,059,200
Bloomlngton.
WILLIAM
260,336,886
21,760,900
21,941,038
20,219,221
12.498,203
8,900,106
6,169,700
4,998,978
2,676,807
3,220,066
1,830,885
1,848,169
1,868,000
1,405,358
970,717
865,052
1,083,655
908,087
111..
1911.
Dec
%
293,048,396
24,541,000
24,235,927
23,590,775
14,754,409
8,005,434
s7,102,6QQ
Chicago.
$10 00
6 00
For One Year—
For Six Months
1912.
$
+ 17.8
004,409
238,119
159,533
159,283,847
1,133,610
1,310,810
1,286,680
084,771
"204,562
250,
m,
140,541,406
2,917,154,118 2,778,911,'558| J +5.0,2,900;334;586 8,002,Q9g;8T9
1,286,883,486 1,220,220,105 *
+5.0 |,16M68,287 1,151,367,015
260
THE
CHRONICLE
charge made by Secretary of the Treasury
McAdoo that the
drop in the market price
severe
of United States Government
wholly to what
every
be
appears to
apprehension
cause
campaign waged with
a
the part of
on
York
New
and
due "almost
was
indication of concerted action
number of influential
a
2%s
City banks to
these
about
uneasiness
bonds, in order to help them in their efforts to defeat
the
Currency Bill."
sidered
probability.
do
rightly been
the
provisions
of
the
and
Banking
Currency Bill with favor, is plain enough.
"
con¬
That the leading banks of this city
view
not
This has
startling statement and wholly without
a
They
be the defects
of
the
Their
measure.
however, of the merits of the
measure
from
competent
that
of
bankers
and
everywhere throughout the country.
on
no
into
law
in
its
has much in its
authorities
They all stand
officials, either here
foolish
so
depreciate their
as
to
be
banks
hold
their
or
indulge in tactics intended
things.
The Na¬
altogether, roughly, $700,000,000
which
outstanding
pledged
are
security
as
circulating notes.
preciation of 4J^% which
de¬
The
registered early in
was
the week
means
and if the
campaign which the Secretary of the Treas¬
ury
a
loss to the banks of
imagines that bank officials
continued
until
the
are
$31,500,000;
waging should be
artificial element,
due to the
circulation
and the
privilege, should be entirely eliminated,
price be reduced to the figure which a 2%
bond would
vilege,
say
aries
comrpi^d-r without the circulating pri¬
75, the lfJM involved
on
the $700,000,000
and there is
United
days Government function¬
they
endowed with
are
Certain it
States
has
is that
received
the
and that the
recover,
attributes
the
credit
most
a
from the effect of which it will take
causes
are
of
serious
of
the
blow,
long time to
a
be
to
Government action, and not in any overt
found
move on
in
the
part of the banks.
The moment the
Bill
made
were
meant
that
system
was gone
provisions of the Banking Reform
public, it became evident that in¬
the
the
national system
inducement
to
no
the national
enter
and with it also
would
the need
was gone
of
large amounts of Government bonds, which par¬
ticipation in that system had previously rendered
deliberately
attempt to bring about;such
a
suggestion of
seems
posterous.
such
a
thing
result?
The
utterly
Vx'.g
.;
among
-
those who think that it is
heinous offense to be guilty of
any
in
engage
an
mere
pre¬
;v'v-V:
peculiarly
act calculated to
a
destroy the national credit.
That the
;
Considering the main features of the bill,
as was
pointed out in
banks
are
to
proposed going to the
Such
Government
trust
companies being wholly barred out; (3)
that
changed
the
to involve
as
banks in the
the Federal
own
banks
as
so
also to those in the
district bank to the extent of
capital, thus tying
capital fund.
upon
on
the
up
completely
capital thus employed
receive
than
more
5%.
profit from the operation of
are
Government, with
the
profits in
control.
methods
can
in
no
the Federal
the
reserve or
Government.
loss,, while
liability to loss, is to take
of 5% dividends on the capital
excess
of
bank
reserve
no
banks.
a
up
their valuable cash to
banks, control of these
Government board
so
new
consti¬
always amenable to partisan political
Thus there will
or
a
to take the entire risk of
the
of the Federal
much
All the rest of the
Federal district banks is to go to
The banks
20% of
so
Furthermore, it is provided (5)
tuted as-to be
that the
also
be
diminution of profits to the
cities,
reserve
we
to
are
national bank to subscribe to the capital of
every
of its
a
this distinction
circumstance
alone
In addition (4) it is made obligatory
country.
its
requirements
reserve
banks is to rest with
the
banks
find
patriotic citizens, even to those who recognized that
in
national
have been qualified to receive, the State banks and
start the Federal district
bonds existed
Federal district banks.
new
deposits
-
above par has always been a source of great pride to
entirely due to artificial causes,
a forced market for these very
to be de¬
are
prived of Government deposits, these under the law
Finally, after putting
was
eventually,
or
privilege; (2) that they
United States has been able to maintain its 2% bonds
namely the fact that
find,
we
issue of July 5, that (1) the
our
lose, either immediately
the circulation
event
or
we
none
encouraged to think that by virtue of their
position
that
any
impair
are
infallibility.
set of bank officials would
are
those who will not see,
as
cumstance that in these
of bonds would reach the huge aggregate of
$175,000,000.
Does any one in his senses imagine that
We
We all know that
further obstacle to correct conclusions in the cir¬
a
elsewhere,
assets is wholly beyond the
own
Government 2s
for
good.
no
longer have the advantages it formerly had, and that
instead it might actually become burdensome. This
present shape, would
realm of reasonable and sensible
-of
blind
so
occasion
an
favor, but in the present instance
fear it would do
are
Self-
quarter.
such
on
necessary.
But that bank
tional
that
corporation under
beneficial.
to
in
opinion,
harmful and destructive in its operation rather than
should be
visited
different
ground in thinking that this bill, if
common
enacted
is
be
inspection and self-examination
have been freely voicing their objections and have
pointed out with great frankness what they consider
to
should
censure
principal theme of discussion this week has
been the
xcvh.
Government, being due to blundering and incapacity,
THE FINANCIAL SITUATION.
The
[Vol.
policy.
never
be any
stability of
It is argued, with great plausi¬
had to have them in order to be able to avail of the
bility, that the Federal Reserve Board would be
privilege
eminently trustworthy and in character would be like
of
think it is
a
pre-eminence
being lost.
be
visited
putting
to price should
The fullest
upon
notes.u We
fornthfc deepest regret] thafc this
matter
as
out. circulating
of
would
of reproof should
placed
now
measure
be in
Secretary has said
are
or
to
result;
blame, nothing that the
could
their action would be too
say
severe.
in disapproval of
But the
of£this is also true, andv if the fault lies
process
those responsible for this
and if bank officials
the United States
reverse
with the
see
on
are
only specially capable
the board.
probabilities
who
Supreme Court—that the President
to it that
as to
to be
men were
But without considering the
the fitness of the four members
specially appointed to the Board, it is
to be
remembered that the other three (there being
seven
altogether) will be Government officials, hold¬
ing offices already in existence—that is, the Secre-
AUG. 2
261
CHRONICLE
THE
1913.]
tary of the Treasury, the Secretary of Agriculture
its obvious
and the
to the country.
Comptroller of the Currency.
These officials
and each
and
new
change with
official has his
Administration,
every
own
ideas
to monetary
as
Some believe in making
banking requirements.
departures and in experimenting with
most radical
novel and untried expedient that may be sug¬
every
gested.
Mr. McAdoo has been in office only a short
time, and yet it is already apparent that he possesses
weaknesses and frailties that ought not to be
many
inherent in
over,
the
More¬
occupant of that position.
this week's ebullition indicates that he does not
always act with caution and deliberation, but is apt
to
creating
yield to sudden impulses,
situation
a
which is fraught with most serious consequences.
Add to this fact that it is
take away
a
part of the plan to
from the so-called banking
trol which it
power
exercises and turn it
now
the
of the bank¬
have here
we
seen
that
device well calculated to drive the
a
banks out of the national system.
litical management we are
The kind of
po¬
cal
are
being urged by the extreme wing of the radi¬
faction, such
making warehouse receipts for
as
grain and cotton the basis for the issue of circulating
notes.
that
Is it any wonder under these circumstances
of the banks in the remoter parts
some
of the
country should deem it best to get rid of their Gov¬
ernment bonds before
complete collapse in the market
value of the bonds should
membered that it is not
It should be
occur.
ment of that
sufficient at
is that,
fullest way,
per
that
on
point.
Almost
Proper treat¬
part of the problem might have been
time, but
one
The trouble has
ger
re¬
merely the loss of the circu¬
lating privilege that has to be considered.
exclusive stress is laid
fear it is
we
too late.
now
The dan¬
passed beyond that stage.
given the right, in the freest and
even
of exchanging the 2% bonds for
new
3
cents, the banks in large numbers will leave the
national bank system
because of the
numerous
other
objections and the hostile spirit and animus shown
by the Government against banks and banking in
general.
•
"money power" will not avail
keep the banks in the system where
itself forms part
of the money power.
have to possess
the,vision of
numerous
a
State laws and regulations
system.
of
every
One does not
prophet to
see
that
rather than submit to
under the
they
are
asked to
change to be made in the national
And if there is
any
considerable departure
existing institutions from the Federal system, it
follows
inevitably that Government bonds, whether
they bear 2% interest
or
3%, will be in superabundant
supply.
This
are
assuming responsibility for the
the national
tenance
seems
tinkering with
a
bill
Yet he has embarked
It is not yet
Further
error.
full of objectionable features
so
additional
price,
contained in Thursday's announcement
are
as
will
Nor
fears.
temporary expedients to arrest the decline in
such
can
measure
steps already taken.
engender
only
can
Nor
any
to threaten both consequences
speedily recognizes his
too late to retrace the
that the Government intends to add to Government
deposits in Southern and Western banks and will seek
bonds
the
rehabilitate
conditions to the
use
by
the
until
measure
regular session of Congress and in the meantime
take
referendum vote
a
the bill of the whole 7,473
on
national banks in the system.
The
if
ward
It might be a wise course
defer further consideration of the
to
special
attaching
of such deposits, avail to
inevitable end.
off the
'•
"lobby" inquiry started by the President,
and
form
new
some
strength
of
as
combination
against the particular objects of the special session
had been
discovered, has spread until both branches
and
it
at
are
Congress has at last, and probably
too soon,
none
of itself.
The
become involved in
who could
"man
and other Governmental
the
investigation
an
deny that Congress'
departments ought to turn
light inward upon themselves, after harrying and
probing into everybody else, must be
constituted person.
that
strangely-
a
It has already become evident
lobbying does include that which is "insidious,"
under-burrowing and unscrupulous enough to sacri-'
fice
anything found in its
life insurance
tax upon
ton
and
of
influence
but,
was
kept in full daylight in Washing- "
openly through th^
evidence
The movement of
way.
companies against the proposed income
them
newspaper
material amb&frt
any
against the
Mulhall
with
the
found,'
through the
run
and
mess'
been
concerned
improper
tariff i Mil1 has been
Lamar-Lauterbach-Martin
no
press;
to
as
the contrary, the inquiry has
on
facturers.
When
,
original police
ference
to
of the
adherence to
are
at
new
legislation.
stake; (1) the continuity
banking system and (2) the main¬
national
credit.
the present course,
If
there
is blind
recently has
tale
of
alleged
has endured for half
,
and the minimum of inter¬
every
remove
redress
tangle,
every
everybody's obstacle and
general scramble to get positions of
a
A
course.
struggle to wrest something for individual
gain naturally seeks to conceal itself under the
of
tense
such
a
in
a
common
chicane breed
as
scientist's "culture" tube.
our
Nothing
methods
omen
that the term
common
more
of
'
naturally
It is
In
•
.
bacteria
ill and sig¬
"graft" has made entry
needs reform than do
reforming."
as
an
speech and become
of jest.
one
our excess
and
\
'
The status of the cotton crop on
as
pre¬
welfare.
condition, hypocrisy, deceit, wirepulling, and
nificant
into
for the
struggle
a
both will become
century, and, notwithstanding
;
perverted from the
vantage for one's self against others is a result, of
The national banking system
a
"
everybody along the upgrade to content and
happiness,
a
seriously imperiled.
powers
straighten
alleged grievance,
shove
"
Government has been
all forms of
danger should be recognized by those who
Two serious matters
of
national credit.
that
on a course
unless he
thereby forever linking
do anything that will in
impair the
en¬
remotely
even
dismal performance.
the
with
name
he want to
bank
banks will' prefer to trust themselves to
the exactions and burdens which
assume
his
involve
secret service for the National Association of Manu¬
Denunciation of the
to
the downfall of the system,
likely to get in certain
contingencies is made evident from the proposals
that
may
con¬
ing trade being deemed superior to the management
of those trained in the business—-it will be
President Wilson cannot want to
action that
any
courage
to
to the
over
Government—Government management
defects, has been of inestimable benefit
"n
*
U
July 25 this
'
•
year,
reported by the Department of Agriculture at noon
'
262
yesterday,
expected
was
the
on
whole
by the trade
in
thejreporlwas somewhat of
ing
favorable than
less
Consequently
general.
market factor stimulat¬
a
moderate advance in values.
a
time
CHRONICLE
THE
From time to
during the past thirty days there had been
complaints that moisture
if not
all, of the
material
needed, but overmuch,
was
beneficial rains came before
area,
injury had resulted to the
therefore,
Texas, Oklahoma and Louisiana, cotton was believed
to be in better condition
A
July 25 than
a
month earlier .
slight improvement is indicated, it is true, in the
Alabama and
earlier.
Virginia
are
given the same as a month
deterioration
But
and Tennessee, and
Arkansas
Georgia,
Carolinas,
reported in Texas,-
is
than
Oklahoma and Mississippi to a greater extent
of.
being the case there was a disposition on the
exchange to look upon the condition as given
private reports had furnished any indications
any
This
local
rather
as
Situation
^current
1
and to view the
than warranted,
>wer
hopefully in view of the rains of the
more
week, which
to have
appear
all of the section where moisture was
Extended
over
claimed to be
needed, except Southwest Texas and a portion of
The report made the average for the
Oklahoma.
whole territory 79.6 on July 25,
2.2
points from the figure of
a
deterioration of
a
month earlier, and
contrasting with 76.5 at the, same time last year,
1911—the record
89<1 in
and
year—75.5 in
crop
1910
tion of
direction
the
of
border,
a
Following
a
slightest
by
the
Ambassador's
offer
complications
Federal
can
States
was
he
rage,
Administration
The
woun¬
Washington made
a
the Mexican Government
upon
held
were
message
Consul in Juarez
last
hands of
Tuesday.
forwarded
was
placed in the
was
Harrell, Americans, and MacDonald,
subject, all of whom had been seized by
Huerta's troops on
the pretext that they had aided
revolutionists.
complied
Huerta
It
but also
imperative in regard to the liberation
were
of Biesel and
British
by the Mexican authori¬
special courier in the Consular service.
a
The terms
number of
a
sent to the United States
was
only by telegraph
the
at
demand for the release of
a
Americans who
not
When Dixon attemp¬
punishment of the troops committing the out¬
and also
ties.
appeared to
shot down and seriously
was
peremptory demand
for the
time
troops of Charles P.- Dixon, a United
ted to escape,
The
a
the arrest in Juarez by Mexi¬
Immigrant Inspector.
ded.
arguments
Foreign Relations.
on
An incident of the week that for
a
murder and that
on
and
with
ordered
The
demand
the
prisoners
immediate trial
an
disavowal that the
absolute
promptly
was
released.
were
of the persons
Department
shooting had been
officially ordered.
In the Balkans
far
as
Bulgaria
Servia and Greece
has been declared
armistice
an
the
on
on
so
Rdumania,
hand and
one
the other hand, are
concerned.
to bear
Servia, while, not entering Sofia, the capital of Bul¬
this Government to compel aggressive action in
garia, has cut all communications and is within 10
Mexico.
Mr.
appeared in
is bringing
pressure
Bryan said: "The statement which
some
of the morning
papers
to the effect
that European
governments are- bringing
to bear
United States to compel aggressive
The
the
on
pressure
Mexico is entirely without foundation."
action in
Ambassador
American
Saturday
last
Washington
arrived
Mexico
to
morning
and
ing the earlier part of this week attended
a
dur¬
number
qf conferences at which President Wilson and Secre¬
According to reports, he
tary Bryan were, present.
urged recognition
Mexican
or
partial recognition of the present
Government
and
strongly
President's plan for mediation.
It
become known in official circles at
did not make
Ambassador Wilson
pression
upon
-
the
President.
opposed
was
Relations
and
at
a
a
On
conference
favorable im¬
Wednesday he
Committee
Government
name
some,
as
the
on
Foreign
lasting four hours
presented his view of the. situation.
the
the
allowed to
Washington that
appeared before the Senate Committee
to
degree
before the Senate Committee
Southern
on our
conference with President Wil¬
that any foreign Power
in
administration founded
an
against recogni¬
was
restoration of peaceful
Republic located
yesterday, Secretary Bryan emphatically denied
son
on
has been made this week in
securing
conditions in the
especially frank in
was
had not been swerved from his position in the
an
No apparent progress
representatives,
letting it be understood that he
who shot Dixon and sent to the State
ten-year average of 80.
a
President Wilson, in an interview accorded
newspaper
he
xcvii.
opinion prevails in Washington that he is not to
return.
practically all localities, except
in
that
It follows,
crop.
the
[Vol.
He suggested
recognition of the
Excepting in Sonora, which-had
semblance of organization, the disturbances in
the northern States were,
has
city, which is at its
Apparently
mercy.
only been restrained by Austria, which has
given notice that Bulgaria must not be too greatly
humiliated.
Adrianople
territory
Turkey,
■
p.
on
the other hand, is holding
and important
proper,
positions
Bulgarian
in
'
''
■
regardless of the protests of the
Powers, who wish the Porte to observe the frontier
lines agreed to in the London treaty.
Turkey, fully
cognizant of the jealousies of the Powers, is ignoring
their
complaints,
posed that
a
The Russian Government
pro¬
joint naval demonstration be made off
Constantinople to coincide with the mobilization of
Russian troops
in the southwestern provinces. Other
Powers refused to
co-operate.
clined to consider the
Germany flatly de¬
plan, and Russia's allies, Great
Britain and France, rep
ied evasively.
Russia,
ac¬
cording to advices from St. Petersburg, is reluctant
to assume
to bear on
Huerta, do
the only government, worthy of ther
in Mexico.
miles of. the
it
so
wou
single-handed the task of bringing pressure
the Turks in
in Asia Minor,
Europe and is unwilling to
realizing that such
d encourage an Armenian
a
course
uprising, which woi^ld
only further complicate the Turkish problem.
At
a
council of the Russian Ministry on Saturday, it was
and outlaws whose chief objects were pillage and loot.
agreed that the Russian Government had done its
utmost to avert further bloodshed in the Balkans,
It is
and that if the progress
he said, caused by bandits
reported that financial
exerted
induce
to
has not yet
Mexico
as
Huerta
pressure
to
resign.
is
now
Mr.
been informed whether he is to
being
Wilson
return to
Ambassador of the United States, though
to
wholesale
massacres
of the military operations led
in that region, the responsi¬
bility would rest on the other Powers.
The Ambas¬
sadorial Conference in London on Tuesday settled
Au«;
'
2151301
./.w-
T.
v.,
the status" of
Albania. * A
new
six months hence tb> rule
meantime*
one
CH rnmcm
prince will be nominated^ •yesterday" that
the
over
Commission of
a-
THE
..^jp«»vr^rafaana,rt awntrnsnaBaiii r» ■,',"u •jrfimmnTvm.^Trcu.TmrTTrnfrnm'"^n?-nv'-Trin^
State*.
new
In the •shores;.
Castro* had landed
on Venezuelan
It i$ expected that n United States;
warship
Control,. composed; of will be* promptly dispatches- td Venezuela.
representative- of each Power;- will: organize the
administration
with the aid of
gendarmerie;. -The
Swedish officered
a
has- done
conference
The foreign markets for securities have shown im¬
provement ih'tone this week, reflecting in this respect
In¬ the; better promise for the adjustment of the various
nothing
officially in the direction of coercing Turkey;/
dignation meetings are; it is reported;* being held
political and labor problems.
The Balkan conflict
by the Moslem population throughout India protest¬ lis evidently under control of the Powers and contains1
ing against any attempt to drive the Turks from
no
Adrianople, and it is not considered likely that the
from the
British Government will be anxious- to? initiate such
the
coercion.
main force.
»
...
immediate promise of
nearly
its
run
payments in the near' future.
Nanking, and the proclamation of inde¬
city returning to its allegiance to the Northern Gov¬
is^
regarded in Peking
Urates moved from
:with 4%%
as:
having removed the corner-stone from the Southern
rebellion.
The
nomination
ance, as
Cabinet
Chinese
of
Senate
has
Hsiung Hsiling, ex-Minister
will
be
now
pardoned.
a
of
declined to
participate in the Panama Canal Expo¬
tok the
Parliamentary
Trade, in
Secretary
position in part
Board
of
that
and
that
should have
we
manufacturers.
found
ing them to send exhibits
the Panama-Pacific
worthy
on any
or
1
useful scale to
They will
great
international
The
refusal
nounced
■
-
,,
at-
exhibitions
of
•.
Germany to participate
Department
three
every
•
•
State
our
only
.
on
•'
•
Among the: recent
as
reported by cable,
Buenos Ayres Pacific Ry. 5s at 98,
£650,000
British
4%% debentures at
India Steam
Co.
4%% debentures at
was
fully subscribed,
also the debentures of
as were
-Wales Government will offer
an¬
of
Thursday.
4%
inscribed
stock
Navingation
The Vancouver loan
;
par.
the Canadian Northern Pacific
•
was
of
them¬
£510,000 Vancouver City 4%% bonds at 95, £800,-
ment,
conference to
•
have
loan
were
95, guaranteed- by the British Columbian Govern¬
not
to incur the cost of sending exhibits.
They point to
similar heavy burdens they have had to bear recently and
years:"
compelled to take 78%.
000 Canadian Northern Pacific
agree
drew attention to the decision of the Berlin
move¬
discouraging offerings Was
South Australian Government
£ 1,000,000
were
Exposition, and should probably have
failed to persuade thetii to send anything.
offerings have
irregular and have not, taken alto¬
offerings in the London market
on
investigation
the, most extreme difficulty in persuad¬
The results of recent
One1 of the most
of the
selves
We
capital,
new
£1,000,000/ the underwriters of which
"The ultimate decision in this matter is really one for the
traders
for
speculative securities being apparently
somewhat
ment.1
follows:*
as
applications
week
in the
gether, afforded encouragement to extend the
Robertson,
interview explained Britain's
a newspaper
moderate renewal
a
standing among British underwriters to abstain from
Germany have definitely ^been
M.P.,
of
market
flotations of
J. M.
British
a
though chiefly by municipalities, the tacit under¬
>/
sition at San Francisco in 1915.
compares
73%, comparing with 72%
been
There- has
Fin¬ -English
permanent
Contango1
the* preceding settlement.
at
still in force.
'Both? Great Britain and
Thef London fort¬
4% down to 4%, which*
Consols closed at
ago.
It is expected that
formed.
Dr. Sun Yat-sen will be
•
approved the
Premier, and it is believed that
un¬
that Mexico is expected there to stop
canceled, the: nightly settlement passed off smoothly.
was
be
Nevertheless, cable dispatches from
evacuated
This incident
seem to
In Mexico, while the situation
London suggest
ernment.
In China
doubtedly remains-critical, there1 seems nothing to1
Sing, Commander-in-Chief of the Southern forces,
pendence previously issued there
large question
-Labor troubles1 in the Rand
Oh Wednesday Gen. Huang- •justify alarm.
course;.
a
revolutionary movement has apparently lost its
calming' down.
The latest uprising ill China seems to have very
.
becoming
European political standpoint/
Ry.
an
The New South
issue of
97% next
at
£1,500,000
week.
The
Twenty-one' countries have agreed to exhibit at the
failure of the South Australian Government loan is '
Panama-Pacific
considered in
Brazil,
exhibition.
1
They
are:
Argentina,
cessor for
Bolivia, Canada, China, Cbsta Rica, San
Domingo,
Ecuador,
France,
Guatemala,
London
a
of the Balkan States that
Hayti,
rather unfortunate prede¬
New South Wales
offering.
are
The securities
traded in
the Lon¬
on
Honduras, Mexico, Netherlands, Nicaragua, Panama don Stock Exchange have ruled somewhat irregular.
Peru, Portugal, Salvador,, Spain and Uruguay. /
Bulgarian 6s closed I point higher at 99%; Greek mon¬
opoly 4s without change from 54; Servian ■, unified
Responsible reports are again current that Cipriano
4s advanced 4
Castro; the exiled President of Venezuela, is making
lower
83.
at
Turkish 4s
points to 79.
Russian
4s- have
are
declined
1 point
% point
another effort to get
during the week to 89% and 'German Imperial 3s
is
are
back into'power in Caracas.
It
reported that Castro last week left Europe in dis¬
guise.
Dispatches from Bogota,
that followers of Castro have
Colombia,
without change from 73.
of the "Bankers'
assert
organized revolutionary
value
aggregate
movements
along' the Colombian border, and that
they have crossed the frontier into Venezuela at a
dealt in
number of
with June 20,
points.
our
of
totals
State De¬
387
representative
the London Stock
by cable/indicates
Simultaneously the Columbian
Government, according tov advices to'
on
The monthly report
Magazine" of London, showing the
a
Exchange
decrease on July 20,
of £11,203,000,
or
securities
as
as
received
compared
0.3%, the respective
being £3,385,737,000 and £3,396,940,000.
partment at Washington, is determined to maintain
an
asv
attitude of strict- neutrality and to*
In Paris while money rates remain moderate
prevent as far
possible it& territory being used for filibustering banking situation is' one of some strain under
expeditions.
•
The State
Department, according
Washington press dispatches,
was
1
surface.
•
themselves to
to
officially informed*
Paris bankers have
a
the
the
undoubtedly domahitted
greater extent than the bankers of
supplying funds to carry on the
other countries in
original Balkan
The sudden turn in the affairs
has undoubtedly
war.
Balkan
of the
States themselves
impaired seriously the soundness of original loans
which
the
result of unfortunate commit¬
as a
American
according to
securities, has,
helped out by other Paris banks,
cabled advices, been
,
The small bank
discounts.
large
extended, partially
in
and will continue in business, although
there will at
Notwithwithstanding the strain in the banking situation
be
once
that
a
reorganization in its directorate.
have been
Bank shares advanced sharply after
declines
and Tuesday, Mexi¬
Monday
on
in the improvement as a result,
banks joining
can
of reports
according to cable advices from Paris,
that
reaching
in Mexico
of the early
one
was
The
probabilities.
de Paris du Pays Bas showed
Wednesday of 15 frs from 16.92 the
recovery on
closing price
recalled,
American intervention
that
centre
shares of the Banque
a
show
cheerful this week and prices
more
improvement.
early
referred to, the Paris markets
have already
we
This bank, it will be
Tuesday.
on
was one
of the chief underwriters of the recent
The Banque de
Mexican Government loan.
Parisienne showed
a
recovery
L'Union
of 13 frs, the Credit
Lyonnais of 10 frs., the Banco Central of Mexico of
8
and
frs
that prices have been
The original decline
maintained.
ascribed to
closed
the
on
In
French Rentes
foreign banks.
yesterday at 86.17}^ which
Bourse
with 84.60
compares
the
unsettling developments in the Balkans, there
was
distinct improveme^
the
formal j
been
late in the week, owing to
armistiq^^anged between the Balkan
placed
The^Gfruian financial situation has
upon a
niorfe satisfactory plane by the
heavy liquidation and reduction in prices that
ceded the
half-yearly settlement.
of the bonds listed
-
an
of about 1 point which would be equiva¬
average
,
lent to about
In the
about
pre¬
In June one-half
the Berlin Exchange declined
on
#200,000,000
on
the entire bond list.
month the shares declined
same
the average
on
2>l/2 points, equivalent to $140,000,000.'
These
changes represent the largest losses, according to
Berlin
despatches, that
the
German
market
has
experienced since the outbreak of the original Balkan
war
last October.
Money in Berlin closed yesterday
European official banks reduced its
discount rate this week.
well
maintained.
bankers'
In
Private bank rates
Lombard
acceptances,
as
Street
reported
Money
in
2M%
week
at
3%%
ness
London
as
has
a
|
ago.
closed
in
at
cable
are
public quotation, though
been
reported
at
3^g%.
were
last
4@4^%.
3K@4%
Paris discounts
the private discount closed at
tion of
of
The Bank
increase in
an
589.
The
against
still quoted
some
In
remains
at
increased £160,000 and the pro¬
reserve
portion of
to liabilities is now 53.84%, com¬
reserve
paring with 53.69% last week and 48.66%
a year
Public deposits decreased £607,000 and'other
ago.
increased> £770,000.
deposits
small
coin
and
total
was
bullion
now
One
£39,284,660.
year
£28,047,000 and
at
£29,088,909 last
the
holds in
ago
£40,722,839 and in 1911 £40,160,350.
stands
reserve
showed
Loans
The Bank
expansion of £9,000.
compares
the
The
with
and £28,376,395 in the year
year
preceding.
Outstanding circulation, which shows an
increase of
£398,000 for the week, to £29,858,000,
with £30,083,930 in 1912 and £30,233,955
compares
in
Loans
1911.
(other securities) aggregate
£29,-
191,000, against £34,757,797 in 1912 and £26,716,the
Bank
The
810.
on
Monday secured
£980,000 of
£1,120,000 South African gold available in the
market in London
open
on
furnishes the
Monday, the remainder
correspondent
Our special
being taken for India.
following details of the gold movement
into and out of the Bank for the Bank week:
Imports,
£1,352,000 (of which £230,000 from Egypt, £465,000
from Brazil and
£657,000 bought in the open market);
exports, nil, and
of
shipments
£794,000 net to the
interior of Great Britain.
The Bank of France reports an
10,838,000 francs,
holdings of
from
tions
not
was
York.
New
The
increase in gold
reflecting importa¬
silver
item increased
The statement taken altogether
strong one, however, and provides added
a
testimony to the reports of a strain in the French
The Bank's Weekly return, for
banking situation.
shows the large increase of 224,750,000
instance,
francs in note
circulationjandof 262,200,000 francs in
deposits decreased 38,825,000
General
discounts.
francs, Treasury deposits increased 25,325,000 francs
and Bank advances decreased 1,675,000 francs.
The
gold holdings are in excess of last year, but this is
more than offset by the particularly heavy, increase
in note circulation
and discounts.
The total gold is
3,362,222,000 francs, which compares with 3,286,700,000 one year ago and 3,178,025,000
1911.
francs in
Silver is much lower than a year ago, being
627,426,000 francs, against 801,775,000 francs. The
circulation shows a total of 5,714,287,000 francs
note
with 5,239,677,825 francs in 1912 and
and compares
in
1911.
The
discounts
stand at
1,820,439,000 francs and compare with 1,301,263,865
one
year ago
and 1,253,712,491 in 1911.
4^% which is
a
busi¬
The local money
an
easy
exception
are
situation has continued to show
aothough lenders probably without
continuing their well-established policy
their loans to the non-speculative re¬
quirements of their customers.
Washington which
from
reduc¬
morning
5%%, in Brussels 4 7-16%
tone,
of restricting
Berlin
Y%% for the week. The closing private bank rate
Vienna
England's weekly return indicated
gold coin and bullion holdings of £557,-
sixty-day
by
evening closed at 3%@4%and long bills at
a
London, 4J^%; Paris, 4%; Berlin, 6%;
are:
5,195,347,165
at5^%.
None of the
reduction of %% to &%% has
Vienna, 6%; Brussels, 5% and Amsterdam, 5%.
1,091,000 francs.
Friday of last week.
on
Berlin, which has been recently depressed by
belligerents.
centers
a
The official rates of leading foreign
place.
in the bank shares
of disastrous commitments
rumors
connection with
in
frs.
given additional quotations
not
of these bank shares, but state
was
of Mexico 29
Nacional
Banco
the
cables have
Later
taken
xcyii.
time but
risky at the
reported last week to have become over¬
was
ments
be
to
*
and in Amsterdam
compensated for by the high interest
was
and
rates
that
known
were
whose risk
■'
[Vol.
CHRONICLE
THE
264
will
papers
deposit at
the banks
was
The announcement
published in yesterday's
that the Secretary of the Treasury
once
$25,000,000 to $50,000,000 in
of the South and West not unnaturally
J
Aug. 2
had
at this centre,
it will
as
moving funds by the
and prime
bonds
cur¬
closing quotations are 3J4@4% (unchanged for the
agricultural sections during the
week), ninety days 4%@5% (against 43^@4%%);
for
and
State
collateral papef Will be accepted
will be 2% and the
charge
interest
The
Government two per cents will be
Treasury Department at par as
deposited in two
will be
accepted by the
security.
The funds
three principal cities in
or
States where harvesting is in
each of the
progress
and where the demand for funds for moving crops
accommodated.
When
have been moved the Secretary will require
the crops
a
conveniently be
most
can
return of the money to the
months 534@5J4%
four
municipal
by the Government as security to be furnished by
the banks in the sections named for the Government
funds.
Time
rates show slight changes net for the week;
money
crop-
New York
on
months. ' Federal,
few
corresponding
mean a
demand
the
of
tailment
next
234%> minimum 2% and ruling rate 234%-
reassuring influence on the money situation
a
265
CHRONICLE
THE
1913.]
Treasury, the present
(unchanged); five months
5%@6% (against 534@5?4%), and six months
6% (unchanged).
fered rather
Commercial
has been of¬
paper
freely and has also been in better
more
The announcement by the Secretary of the
demand.
Treasury that he will accept approved commercial
at 65% of its face value as security for deposits
paper
of Government funds in the West and South is not
unlikely to stimulate the sale of paper. Closing quota¬
6@634% for sixty and ninety days' endorsed
tions
are
bills
receivable and for
four to six months'
Others
character.
choice
of
names
single
quoted at
are
6H@7%.;
suggestion being that 15% will be re-paid in Decem¬
Sterling exchange has had
ber, 30% in January, 30% in February and 25% in
Deposits, however, will be made with those
March.
banks
only which have taken out at least 40% of
their authorized circulation.
evidently intended as
take
to
routine
out
a
This latter provision is
spur
to induce the banks
circulation,
offering facilities for crop-moving
Meanwhile
a
by increasing the demand.
favorable feature in the money situa¬
freely market their crops.
interior
primary
The grain movement to
markets
has
particularly active, and farmers
their old wheat freely,
of their
new
wheat crop,
ises
Mr. Mc-
purposes,
distinct tendency shown by farmers to
tion is the
out
aside from
undoubtedly desires to restore the price of
Adoo
Government two per cents
the
and,
but
are
also disposing
The winter-
according to present indications,
establish
to
not only selling
are
harvested.
crop as soon as
a
high-water
new
been
recently
mark
prom¬
in' the
records of the Agricultural Department, and springwheat has within the last
from
recovery
the
fortnight shown
unfavorable
marked the beginning of the
ted to have suffered
from
harvest
returns
gether, the
Corn is
season.
that
crop
require
more
do not
of
market
a
year
this
year
ago.
is
a
favorably with the
But, taken alto¬
promising
one
and
important calls
by
our
upon
railroads
the
money
and industrial
Satur¬
day's statement of the New York Clearing House indicated
,
an
and trust
f
,
.
increase in the cash surplus of the banks
companies in that institution of $7,885,500.
There
was a decrease noted of $13,074,000 in loans
and of $2,178,000 in deposits. The cash surplus
above reserve requirements now stands at $28,157,700 and
compares
with
a
surplus of $19,238,500
a
The preparations by the banks for the
August dividends and interest disbursements did not
year ago.
appreciably affect the situation.
Call money rates
during the j,week have been con¬
of 2@2^%.
On'Monday 2*4%
the highest and
ruling rate andf2^% the low¬
fined within
was
a
range
France
York.
New
has
recently been
reported to be offering
now
gold in London.
There
lending of London funds in
some
this market in the form of the
proceeds of finance bills,
and this has exercised
a
quotations, though
distinct weakness has devel¬
no
rather
unsettling effect
and there is
a
general disposition in foreign exchange
circles to look for
to
corn
active movement of wheat and
an
foreign markets during the entire export
The easiness in sterling has been in the usual
season.
demands for money
at.the month end.
England statement
was a
good
one,
The Bank of
since it showed
improvement both in gold holdings and
the end of the
showing
was
reserve
at
month, and it is not unlikely that the
not fully indicative of the real strength,
loans will be
paid off
now
that the
new
month has
Exports of manufactured goods are keeping
begun.
at phenomenal figures, and with the active move¬
up
of
ment
tions in
the
grain to foreign markets and the restric¬
importations of foreign merchandise due to
prospective decrease in the tariff schedules, there
for
is
on
The offering of grain bills has been quite free,
oped.
the
present
at least considered to be slight
probability of additional exports of gold.
is still
The
Continental
London check
The
London
drawing the precious metal from South America.
exchanges have been irregular.
rate in Paris has declined
34
cen~
time, to 25.24^ francs, and at Berlin the demand rate
London
on
marks.
has
Berlin
advanced
exchange
134 pfennigs, to 20.4734
on
Paris,
as
reported by
.cable last evening, closed at 123.30 francs, which is a
decline of 5 centimes for the week.
•
Compared with Friday of last week, sterling
change
on
Saturday
was
ex¬
unchanged with demand
again quoted at 4 8675@4 8685, cable transfers at
4
8725@4 8735 and sixty days at 4 8320@4 8330.
On
Monday the market ruled dull but steady, with
trading extremely limited; demand
was
unchanged at
4
8675@4 8685; cable transfers receded 5 points to
4
8720@4 8730, while sixty days advanced 10 points
8330@4 8340.
the
ruling quotation; (Wednesday and ^Thursday the
highest was 234% each day, the]lowest 2*4%and
day
on
ruling rate 2 J4%*
4
is
Paris
to 4
FridayJthe maximum J wj^
There
gold for
obtain the precious metal
can
unusual inducements to obtain
est; Tuesday's extreme figures 2@234%, with 234%
On
quiet week.
greater advantage in the British centre than at
to
The Illinois Central has sold $3,500,-
equipment notes carrying 5% interest.
a
engagements of
Paris, and under current conditions it is figured that
repor
than the usual volume of financing.
this week
corporations.
compare
additional
no
the Bank of
as
quite severely in certain sections
There have been nq
000
distinct
drought and heat, and oats and hay, while
above the average,
will
a
condition
been
have
Sterling broke sharply
on
Tues¬
heavy selling by important banking interests
and short
selling by speculators; demand declined to
8660@4 8670,
cable
-
transfers to 4 8710@4 8720
and
On Wednesday
sixty days to 4 8325@4 8335.
trading
quiet at slightly lower quotations;
was very
the range was 4
for
4 8715
transfers
and
8310@4 8320 for
4
Dulness again prevailed
decline
further
a
4 8705©
8655@4 8665 for demand,
cable
sixty days.
with
CHRONICLE
THE
266
of
5
Thursday,
on
points in demand to
4
8650@4 8660 and of 10 points in cable transfers to
4
8695@4 8705; sixty days
On
4 8320.
Friday the market ruled
Closing quotations
4
demand bills and 4 8690@4 87
for cable transfers.
4
but quiet.
easy
4 8310@4 8320 for 60 days,
were
8650@4 8660 for
4 81 @4
unchanged at 4 8310©
was
Commercial
banks closed at
on
documents for payment finished at
82%,
82% @4 83%
7-day
and
grain
bills
4 85%-
at
4 83.Grain for
payment at 4 83@4 83%.
York
New
have
their
operations with interior banking institutions, have
rency
as a
been
result of the
general policy of
the
on
cur¬
Their*
movements for the week ending Aug. 1.
the
UnitedjStates holds to its
will
force
the Sub-Treasury operations,
flow of money
which
occa¬
combinedTesult of the
into and out of the New York banks
for the week appears to
000, as follows:
have been
gain of $5,582,-
a
The
Banks.
$17,464,000
; 22.051,000
Sub-Treasury operations
Total
Out of
"i ijjNet Change In
Banks.
Bank Holdings.
$4,493,000 Gain $12,971,000
29,440,000 Loss
7,389,000
Y
$33,933,000 Gain
$39,515,000
_
$5,582,000
J&>
The following table indicates the amount of bullion
in the
principal European banks.
.
Aug 1
of the
Silver.
£
£
Netherl'ds
39,284,660
134,489,000
57,834,450
160,729,000
50,579,000
18,386,000
46,338,000
12,274,000
Nat.Belg.
7,970,667
England..
France...
Germany.
Russia..,
Aus. Hun.
Spain
Italy
Sweden
Gold.
Silver.
Total.
£
£
£
£
39,284,660 40,722,839
25,094,520 159,583,520 131,467,720
14,300,000 72,134,450 46,390,100
7,676,000 168,405,000 151,855,000
10,793,000 61,372,000 51,631,000
29,915,000 48,301,000 17,064,000
3,500,000 49,838,000 42,437,000
683,700 12,957,700 12,018,000
3,985.333 11,956,000
6,748,000
5,700,000
5,333,000
6,541,000
6,731,000
2,437,000
2,166,000
5,700,000
..
Switzerl'd
6,541,000
2.437,000
Norway..
Total.
•
yield
our
recog¬
body,
a
of
or
This
several bodies,
5,333,000
6,731,000
2,166,000
107,832,057|
of
armed
banditti
an
popular uprising which would amount to the
revolt of
Province.
a
It will be remembered that
Madero had to make terms with
even
not
was
in Mexico be distinguished from
always
guerilla
chieftains
who
had
in
some
reality
-
of the
better
no
standing than that of robber leaders.
the
contradictory reports
points; from
Mexico,Henry
it
received
necessary
Wilson,
who
Lane
continued in office at Mexico
these
on
became
that
has
been
City during the Wilson
Administration, should be summoned to Washington
to give his own report in person.
Rightly or wrongly,
Ambassador
a
Wilson
has
all
along been reputed to
strong supporter of the Huerta regime.
have
to
Mexico
itself
been
no
difference
regards
as
his
Dictator.
40,722,839.
32,070,760 163,538,480
17,183,350 63,573,450
7,979,000 159,834,000
12,272,000 63,903,000
30,187,000 47,251,000
3,700,000 46,137,000
974,900 12,992,900
3,374,000 10,122,000
difficulty
less by the fact that the depredations of
toward the present
95,947,553 638,510,330 514,563j659 107,741,010 622,304,669
94,604,460 636,804,421 517,846,179
625,678,236
Tot. week. 542,562,777
Prev. week 541,499,961
Administration to
conditional to
as
Mexican situation.
rendered any
seems
1912.
Banks of
•Gold.
pres¬
Mexico, and particularly regarding the extent to
be
July 31 1913.
-
attitude, the
difficulty from the start has lain in the widely
Ambassador
Interior movement....
Banks'
own
which General Huerta could be said to be in control
In
Into
a
nition of it.
•
Week ending Aug. 1.
Provisional
the
to the terms laid down
actual
loss of $7>389,000, the
Ruerta regime the necessity either of resign¬
ent financial necessities of the Mexican Government
000, while the shipments have reached $4,493,000.
a
that the
way,
Administration is to impress
our
popular election; the theory probably being that if
cannot
Adding
official
any
alleged to
It has been inti¬
of submitting its pretensions to the test of
or
receipts from the interior have aggregated $17,464,-
sioned
unlawfully detained.
mated, though not in
ing
by the Mexicans
and of other American citizens
contradictory statements regarding the actual status
Clearing-House banks, in
gained $12 971,000 net in cash
meantime, however, demand¬
purposes;
of the American official shot
case
at Juarez
in
The
own
xcvii.
ing of the Huerta Government prompt action in the
Cotton for payment closed at 4 82% @-
@4 85%.
to his
as
[Vol.
necessarily
possession
in
of
of
There
opinion in
favorable
attitude
Nevertheless, he
official
was
information
regarding the status of the Government, and his ad¬
vice
was
a
natural
prerequisite to
policy.
,
Under such
any.
change of
V
circumstances, it is greatly to be
gretted that the Ambassador should have failed
re-
;
so
completely to understand the peculair nature of his
position.
own
From the moment when he landed in.;.
New York, on Friday of last week, he talked with the
THE MEXICAN SITUATION.
'
utmost freedom to the newspapers.
It cannot be
said, despite the somewhat striking
incidents of the past week in regard to our Mexican
relations,
and despite the great amount of
given to the question in the
between
as
press,
a
President
on
the
question, in
an
He
official
has
way,
taken
from all
respectable quarters; the American Ambassador
summoned in person from Mexico
own
dor advised
form of
Other
recognition of the Huerta
individuals
intervention; still others for
between
the
Government
consulted
some
at
opponents in the northern States.
son,
argued
form of media¬
Mexico
and
its
President Wil¬
while receiving for consideration all these varied
recommendations, has maintained
discreet
silence
what he "intimated"
tion;
What Ambas¬
regarding the Mexican situa¬
as
to the proper policy
for the President of the United States to pursue;
plans he himself proposed;
the
what
kid what he thought of
policy then commonly believed to be held by
Washington—on all these points,
the Government at
his
opinion
quoted by the reporters with the
was
We do not doubt that the
utmost frankness.
paper
dor
news¬
accounts exaggerated much that the Ambassa-
said, and
even
put some things into his mouth
which he did not say at all.
often without any
the
commonly supposed that the Ambassa¬
some
Government.
tion
was
City to make his
report and recommendations at Washington.
It has been
for
has
stage where all points of view must be
officially and formally considered.
advice
Wilson
recognized that this "situation has
plainly enough
reached
that the situation
Government ahd Mexico has in
any
our
definitely changed.
respect
space
sador Wilson believed
one
Such things happen,
intended misrepresentation.
But
absolutely
Ambassador, bearing
sion in
an
questionable
fact
is
that
the
peculiarly important commis¬
unusually delicate international situation,
did not appear to
ment envoy
a
realize that the duty of
a
Govern¬
is to keep silence entirely towards the
general public
except so far
as
public utterances
maybe requested or authorized by his official chiefs.
To that extent the Ambassador has
^jpi^eiped
tv.iy
an
prejudiced rather
already sufficiently trying situation.
*
Aug. 2
gather from the mass of citations from his
We
interviews that he
wholly
existing Mexican regime on the ground
nition of the
that it is at least the de facto government
There is
of Mexico,
general prin¬
doubt something to say on
no
The difficulty is, how¬
ever, that general principles do not absolutely apply
in the present case.
The fact that the Huerta Ad¬
ciples for such
argument.
an
and finally
ministration has not been formally
ognized by
Mexican
Government is not due primarily to
our
affairs;
is it
nor
even
fact that Huerta did not
of
the
in the
.
due primarily to the
gain his office
as a
result
President Wilson's position
matter, which has up to this time, we believe,
popular voice.
had the support
of the
great majority of right-
very
has been clearly
thinking people in this country,
based
the fact that the present
on
Mexico City is a dictatorship
Not
only
his post
General Huerta not summoned to
was
by the votes of the Mexican pedple, but he
and retained it
President of
in this
palace conspiracy,
through the murder of the duly elected
Mexico, of whose
tained, possession.
as
Government at
founded op assassination.
obtained that position through a
facts
control of
that it is not in virtual
the contention
.rec¬
sometimes forget such
People
these, but it
was
lie had ob¬
person
unanimously recognized
country, ,at the time the ghastly news from
Mexico arrived last
February, that to deal with the
QUESTION OF DOMINATION.
hastily constructed arbitration board which is
The
and the fac¬
opposing him, and that he advocates recog¬
tions
THE
such policy
any
opposes
mediation between General Huerta
as
367
CHRONICLE
THE
1913.]
determine the wages of conductors and trainmen
to
roads
Eastern
on
to
now
has its two representatives
railways and the trainmen, and will proceed
of the
select,
to select, two unbiased men to
try
or
the full number of six.
complete
One point has
scarcely been mentioned yet, namely that the sole
natural service of an arbitrator is to decide where
the
of
justice of
matter rests, upon an agreed state
a
facts, but that all the so-called arbitrations of this
matter of
thus far have deliberately omitted
wages
consider the most crucial part of the facts
to
(the
ability of the roads to pay an advance), and have
dwelt
only
That
is,
what the
upon
"ought" to have.
men
side only has been heard, the other
one
being dismissed as irrelevant or as outside of juris¬
diction
■
.
•• - v
.
^
Whether this
although the "mediation" which
seen,
at first seemed much like
another truce
1
procedure will be repeated is to be
was
attempted
inducing the roads to gain
by surrendering in advance.
Suppose
it takes another turn and the rates of wage as
already
wisely set forth to public view by the roads are
declared to be
labor of
trial
adequate, since they
Does anybody suppose
service, what then?
these
would rest satisfied with
men
verdict
larger than
are
higher grade is receiving in other indus¬
no
by their
tribunal?
own
an
unfavorable
Or if they get their
usual, is it not certain that this recurrent
perpetrator of such a crime as a responsible ruler
demand,
would
be to
cycle of demand by railway employees, will keep on,
There
are
rules of
an
recognize and to condone his action.
under which the ordinary
circumstances
diplomacy
English
necessarily suspended.
are
That
Austrian Ambassador should have
or
re¬
mained at Paris after the execution of Marie Antoin¬
ette, for instance,
nobody has ever argued.
nationa^ disapprobation of
not be
from
expressed in
any
On the other
full and fair
Inter¬
action of this sort
can¬
other way than by withdrawal
all but the most
relations with the
an
perfunctory
and
necessary
hand, if the people of Mexico, on a,
were
unless checked
ownership and operation?
to decree that General
plation of
If
by
tive
option
a
Mexico, there would naturally
to
the other
It
governments.
question of the people of Mexico
having assumed whatever responsibility might rest
the
on
shoulders
of
the
Administration, and it is
whole people for their
impossible to quarrel with
a
choice
imposing of
of rulers.
But the
a
condition
that such submission of Huerta's claims to
vote should
is
precede recognition by
exactly the principle
such
on
our
popular
Government
which the negotiations,
also,
are
to
mit its
claims to
States refused to
been taken.
tude
on
logical.
our
a
free and open vote;
move
It is difficult to
see
what other atti¬
Government's part could be right
A recently published book
on
situation, by the London "Times'"
of the past
half-dozen
years
Huerta himself and his
ment's
position
tional
recognition,
and
seems
and
the Mexican
correspondent
record of
an
example.
even
master's
fluence
office, they will dominate (or,, at least, in¬
harmfully) other departments in the service.
There is
a case
at hand to prove
this, for the evidence
engineer was
in the Stamford disaster shows that the
not
competent for that particular
that
the
one
of sufficient
train
in
bility.
representative
is
could not afford to
charge that the unions had
undenied—the
men
brought this
man
into charge
train; but the denial is clearly against proba¬
Such
a
rule
stake of the road is
never
union
The
deny—for the
prompt to
leave
time.
responsibility and
experience would have halted
with union policy;
further,
the
large that the managers would
consented to it without
have
pressure;
agrees
so
as a
some
external
lesson of the disaster, the rule
has been declared abolished and the men have been
notified of
a
new
(more accurately, perhaps, a re¬
safety of passengers is menaced when organized labor
better credentials than
treachery and murder,
forcibly di¬
"merely
as
a
uniform, forcible possession of the capital city
a
money
employment cannot be spent
Our Govern¬
chief associates
to be that, for serious interna¬
some
country needs, but protec¬
impeded;
vived) strictness of discipline in all respects.
Not only the finances of railways but the physical
in that country, describes
Mexican savages in blue uniforms."
blue
the United
until such action shall have
absorbed
there, for if the unions dominate the railway pay¬
of that
be unwilling to sub¬
more,
public safety does not stop
for its
reasons, appears to
and
eliminating grade crossings, for
menace",
forced the rule which
own
to the public safety and the
are more
verted into "full crew"
they have been, have thus far been conducted
by Our Government.
The Huerta Administration,
as
Yet this deplorable pros¬
demands, not merely the extensions and
devices
The
would then be
consequences
railway earnings
wage
upon
no
impending
integrity of public administration.
choice for President of
left
or
pect may be put aside for the present in contem¬
Huerta, despite the events of last winter, was their
be
somehow, until actual
insolvency has forced the country into Government
betterments which the
guilty government officials.
public vote,
as
are
essential.
virtually "runs" operations.
Mr.
Parry,
facturers'
a
former head of the National Manu¬
is quoted as saying that
Association,
Mr. Samuel
Gompers, at Washington, once offered
268
[Vol.
to "let
have the
us
working for," if two bills then up were
pressed; that he asked Gompers "when did you
not
get
to
this
own
replied, "if
find out who
Congress,"
is
Gompers
while you'll
whereupon
stick 'round here for
you
a
contempt which Mr. Gompers still manages
to stave
off; the humiliating surrender of President
Wilson, squarely against his
teachings, upon the
own
exemption rider in the Sundry Civil Appropriations
Bill, with his weak
that this does not impede
excuse
accountability which the rider ostensibly abol¬
ished, and
the breathless haste to amend the
now
old Erdman Act
as
amended—these
are
soon
the
as
employees want it
the
of
evidence
cumulative
this position be
can
proverb,
man, says a
How much
longer
escaped?
this country neglect and allow
can
MAKING A
A good work¬
quarrels with his tools.
never
to be misused its most
necessary
The punish¬
running this show."
ment for
the
How
Department of Commerce, which
then
we were
xcvii.
tool?
STREET RAILWAY PAY.
Owners of securities of public utility corporations
study with profit the results obtained by the
may
present
of
management
the
Transit Co.
Two years ago,
management
took
hold
of
Philadelphia
Rapid
when the Stptesbury
the
company,
old
the
management had just completed the fiscal year with
deficit of $415,550.
a
much
was
The credit of the
company
impaired and it had lost the good-will of
both the public and its employees.
Two
good management have succeeded in displacing
tures
deficit with
a
restoration
of cordial
by
organized
labor.
is
There
sagacity in
coupling the. farmers with the labor unions,
former
Secretary of Commerce Nagel, but this is "at
the expense
of the farmers," who
are
made
stalking-
a
horse.
From
Washington have
published,
Committee has decided to
employers.
Will
they
that the Senate
as news,
investigate labor
dethroned
or
of open, square,
has
terest,
as
an
be pla¬
by yielding to him, but the effect
manly opposition, in the public in¬
tried.
been
not
Wilson should
is
Here
dare?
really
well
as
uncrowned despot who certainly can never
President
Suppose
take^ the stand which
one
cannot help
believing Abraham Lincoln would have taken, and in
the
or
impregnable statement characteristic of Lincoln;
suppose
Congressmen should rise to what ought to
be merely the
of
duty is
a
sent back to
doubtful
courage
ordinary level of saying that the path
plain, simple
Washington is
the
that
and whether they
one,
would
country
and rally about it?
putting the matter
not prove
recognize
still
•
And if
one
insists
on
the low ground of temporary
on
expediency, how is it
before whom
are
minor question—is it
a
that this labor giant,
sure
everybody
to be trembling, will
seems
to have weak feet of clay when the first
To this test the country must come;
If
soon.
sooner or
later,
Government
this
"establish justice"
nor can
of
cares
If all
or
against class
other, let
As to
a
a
vital
akin to that of
take it up
body of employees shall
declared that "in time
men
than have
that
in
that
"have
so
that
as
basis
a man may
he chooses.
Mr. Howard Elliott
ago
public opinion" will
no more
in the
men
con¬
say
right to leave in
a
that
body
army"; further, he predicted
public opinion will finally "crystallize so that
some
by
strikes
way
things of the
only
not be put on a
but cannot abandon it just
public address not long
railway
so
necessity; whether, instead, railway
military service,
past
being
manner."
and
or
industrial
men
mustered
can
.
_
wars
leave in
in
out
:
some
'
Mitten, whom E. T. Stotesbury of Drexel & Co.
and J.
from
P.
Morgan & Co. brought to Philadelphia
Chicago for the
found that
he
two rival labor
affairs
company
themselves.
a
In
had been
to the
promised.
he worked out
way
of the motormen and
wages
fillment the wages were
not only at swords'
more
men
large majority to uphold and continue
a
co-operative plan,
the
men
one
shall share in the
provision of which is that
prosperity of the
the amount set aside for wages
over
company,
being enlarged
as
the
This gives
operating costs increases.
incentive for every motorman
an
rapidly than
So satisfactory has this been
the
surplus
a
con¬
gradually and in ful¬
advanced
employees that by a recent secret ballot the
by
and conductor to
increase gross
receipts and diminish operating cost
the mutual
advantage of the corporation and its
to
The
good-will of the public has been cultivated
diligently in
it
occurs
of many small lines which have
absorbed by one large operating
up
gradually
Until Mr. Mitten began to study the
company.
body
orderly
little," if
any,
effort to break
from the routes established by the original
,
wasteful of
By
a general re-routing the operation has been greatly
simplified. Short connecting lines were built so as
to bring cars directly to the centre of the city by
companies.
energy
routes
Operation of the
cars was
and often inconvenient to the patrons.
much shorter than the old
has also
included
a
The plan
ones.
much greater utilization of the
Schuylkill to the City Hall by sur¬
Notwithstanding the large additional
subway from the
face
cars.
number of surface cars now using the subway, there
is
no
this
regularity of movements avoiding
stairways have been in¬
congestion,
a
dilemma.
Moving
stalled to overcome the objections of the aged to the
use
of the subway.
In
will be
a
As in most large cities,
many ways.
that the system of street railways in Phila¬
delphia is made
been
a
great many small and inexpensive
company
ways
the
has catered to the convenience of the pub¬
Philadelphia
lic.
in street car
was
service.
far behind
other cities
many,
It has at least partially caught
'•
.
.
•
■
*
-
'
■
\
1
,
but at loggerheads with
be increased
to
were
were
masterful
plan by which the
voted
*
badly complicated by
were
unions, which
points with the
ductors
of rehabilitating the
purpose
When Mr. Mitten took Hold of his task
property.
to be "class,"
multiplication of unions
a
„
achieved principally by Thomas
away
come
service should not and shal
a
are
were
discover this.
point of choosing between revolt
question whether
trol such
In
us
things
system there had been
under protection.
transportation, we can take up seriously
everybody may
the
any
a
or
too
controlled, whether
legislation and administration
be at
come
by one organized class that
cover,
nothing for
shall
we
under
it
and "promote the general wel¬
fare," is controlled and to be
openly
E.
•
■
These
events will
.ostensibly to
ours,
employees,
friendly public feeling, while the
a
employees.
really determined opposition appears?
bring it there,
obtaining
relations with the
a
in the
year,
credit of the corporation is sufficient for its financial
veiled suggestions
come
lobby is to be investigated throughout,
and it has been
and in
plans.
*
that the labor
cated
says
surplus of $509,582 for the
of
years
nearly complete domination of Congress and legisla¬
V;
•
:
'
-
•
,
AUG. 2
under the present management.
up
Cars are now
millions of new
Atlantic Coast Line, leaving only 7
At night signs upon cars
brilliantly illuminated.
269
CHRONICLE
THE
1913.]
stock for all other railroads.
figures, beneath which is printed the route in detail.
One of the first steps of the new management was to
53 millions out
of the 60 millions of electric traction
bonds, these including 46%
ways
supplied
electric railway organizations have
Two
.displayed which may be easily distinguished.
Each car over a certain route is designated by large
are
millions of Chicago Rail¬
1st M. 5s sold in the past
six years for rehabili¬
while the 4 millions of elec¬
operate all-night .cars upon the elevated system.
Successful manufacturers now reason that it is folly tric railway stock was all issued by the Brooklyn
Rapid Transit Co. against bonds surrendered for
to keep the capital invested in their plants idle at
conversion.
Similarly, over 75% of the small
night, and consequently many factories are continu¬
amount of so-called industrial bonds (75 out of 98
ously operated by double or triple. shifts. v Daily
newspapers accomplish the same result by publishing millions) were the output of two companies, the
morning and afternoon editions.
So with the street American Telephone & Telegraph Co., which sold
65 millions for extensions and additions to its rapidly
railway; it was reasoned that operation of the ele¬
tation, additions, &c.;
,
vated road at night
would be profitable, and the night
119923
growing system, and General Electric Co., 10 mil¬
working capital.
Finally, five cor¬
lions for further
growing.
traffic has been constantly
Confidence in the new management gave
the
com¬
all the credit it desired, and there has been no
difficulty in floating bonds in order to provide for
pany
porations were responsible for 189 of the 222 mil¬
lions of additional industrial shares, namely, the two
result
Trust;
U.S.
improvements and to procure new cars.
By pro¬
Rubber Co., General Electric (as dividend) and
viding 1,300 large new cars of latest design, and giving
attention to the public's needs, the traffic has been American Telephone & Telegraph Co; (10 millions,
largely increased, so that without any change in through bond conversions).
Under conditions that have served so to restrict operfares the gross receipts have grown from $20,612,687
manent financing to < the
necessary operations of
n 1911 to $23,020,932.
\
'^'v:
/
small coterie of exceptionally strong corporations,
Philadelphia has planned a great system of transit
improvement.
By a contract with the city the. a small wonder is it if new enterprises languish, rail¬
road extensions remain unbuilt and the volume of*
Rapid Transit Co. is to be given the first opportunity
Harvester
70 millions each, as the
concerns,
merely of the division of the Harvester
road which may be constructed—
surface, subway or elevated.
This provision would
seem to nsure for the Philadelphia Rapid Transit Co.
costly note issues for temporary
avails itself
Additional sub¬
way and elevated lines will be built with public
funds, but the new roads will be leased to an operating
of
to
a
operate any new
profitable future if the management
of the
opportunity thus afforded.
company.::
What
has
V...■
been possible in Philadelphia may be
accomplished with other passenger railways. Greater
attention to details will be found to be of advantage
extraordinary proportions, as shown below.
of stocks and bonds."
comparative summaries of the, amounts
The usual
securities
Capital,
(Six Months.)
1913
1910
1909
.......
190S
....
......
.
1906,
1904
ON
YORK
NEW
THE
STOCK
Stocks.
months to the
during the past six
amount of securities
listed
on
the New York Stock
the blighting ef¬
enterprises and on the permanent fi¬
nancing of old undertakings occasioned by such un¬
Exchange give signal evidence of
fect
on
new
favorable
conditions
affecting
are
as
markets here and abroad at
the -money
the present time,
notably
1911
...
1910
...........
1907
fallen far below the average
of the last eight years,
capital outlay
have reached
an
extremely low aggregate, but,
what is still more striking, nearly 90% of the securi¬
ties of all classes listed in this half-year were issued
while the securities representing new
.......
.....
1906
1905. J;
1904
no more
rank
Of
as
to
the
than eighteen companies, all of the
importance and financial
additional
railroad
first
strength.
bonds,
for
millions
new
of
railroad stocks, 73
bond; conversions
millions
including 17%
(Atchison) and 56
issues subscribed at par
Pennsylvania RR.,
"asseasment paid"—the
$217,991,845
304,357,345
$306,844,460
661,343,685
410,794,460
1,085,869,270,
781,558,220
241,807,000
479,300,850
1/507,315,650
233,856,500
196,443,960
438,956,880
314,035,470
11,417,300
80,821,050
314,814,900
191,381,400
11,190,400
430,121,500
358,064,800
41,527,300
trust company receipts and of securities
reorganization), or of securities stamped
securities themselves having been previously
table..
Excludes $300,000,000 Japanese
Government bonds.
Excludes $60,000,000 Japanese Government,
$40,000,000 United States.of Mexico bonds.
2.
NATURE OF
COMPANIES WHOSE
$35,000,000 Republic of Cuba and
'
.
"
SECURITIES RAVE BEEN LIFTED.
STOCKS.
BONDS.'
Half-
Rqilroad.
Year.
Elec.
Ry.
■Mis ceil.
Railroad.
$
%
Elec.
Ry.
Miscell.
•
S
$
1913...
1912...
1911...
1910...
1909...
1907...
1906...
1904...
the shares of four companies,
millions
175,578,900
38,000,000
412,643,400
250,507,600
158,501,700
308,079,100
16,240,700
99,889,200
y
a
wrere
$320,203,700
398,607,150
323,476,100
514,810,100
641,311,400
567,991,700
233,824,000
*371,375,000
$
'
$
•
'
4,078,000 222,034,610
161,136,700 60,741,000 98,326,000 80,731,850
103,405,900 463,718,185
141,838,300 147,229,500 109,539,350 94,219,600
133,726,600 145,337,160
131,730,700
128,100,500
172,476,600 22,899,000
9,763,500 820,948,370
235,150,300 35,770,000 243,889,800 255,157,400
9,002,500 357,367,420
465,123,600 12,040,000 164,147,800 415,188,300
2,417,600 166,218,800
73,170,600
305,079,700 28,724,000 234,188,000
1,104,100 375,674,000
9,741,000 96,695,000 102.522,750
127,388,000
136,738,100 152,851,700
140,531,700
a52,891,000
202,860,000 115,624,000
55,972,200 199,635,800
266,185,000 18,214,000 5222916,650 102,456,800
3,174,500
9,297,000 64,502,000 38,352,800
160,057,500
for instance,
out
by seven railroad companies, and of this sum only
about 60 millions represent any other purpose than
the funding of bonds and note issues.
Likewise,
new
or
listed—are not included in this
1905...
aggregating 161 million, 150 millions were put
of the 80 millions of
$77,033,000
160,713,850
118,291,600
125,064,000
287,505,537
30,770,000
56,934,086
217,710,000
279,515,650
40,712,000
Note.—Applications for the listing of
"assented"" (if preparatory to
"assumed"
1908...
by
42,378,300
7,979,000
93,953,000
72,362,000
1,650,000
20,000,000
marked
x
financial legislation, labor
agitation and the like.
Not only has the tot^al
amounts of bonds and stock listed in this interval
disturbances,
political
25,000,000
"35,122,666
$88,852,615
181,407,440
176,350,500
234,268,990
217,015,150
71,888,000
90,400,700
99,065,900
.'66,794,200
30,336,900
....
1909
1908
Total.
Old Securities.
Listed,
,
.......
1912
The additions
Now
Ac.
(Six Months.)
FIRST HALF OF 1913.
EXCHANGE DURING
Replacing
Old Issues
$218,170,700
237,S93,300
170,062,500
347,367,800
345,826,863
443,268,700
104,527,914
*152,015,000
207,800,000
193,144,500
..
1911
STOCK EXCHANGE. •
ON NEW YORK
Issues for New
Bonds.
1905
LISTINGS
last ten years are as follows:
MONTHS' LISTINGS
SIX
1.
six months ending
during the
listed
June 30 in each of the
1907
to the owners
financing has reached
by stockholders
Louisville & Nashville
and
Excluding $300,000,000 Japanese
6 Excluding
Government bonds.
$60,000,000 Japanese Government
United States of Mexico bonds.
,
$35,000,000 Republic of Cuba
and $40,000,000
The
purposes
blocks of bonds
seen
on
account of which the
several
listed during the year were issued are
from the following:
RAILROAD BONDS.
Company and Class of Bonds—
Amount.
Atlantic Coast Line RR. unified!
50-year 4s
667,000!
Baltimore & Ohio convertible 20-f
year 4Ms
,
{50,000,000)
,
Purpose of Issue.
bonds
Retire outstanding
and obligations.
Retire $50,000,000
June 1.
113,250,000_>.General purposes
■
notes
„
270
THE
CHRONICLE
Company and Class of Bonds—
Amount.
Purpose of Issue.
Canada Southern Ry. cons. guar. (20,000,000 _Retire old bonds.
50-year 5s
2,500,000.
2,500,000..Improvements.
Chic. Burl. & Quincy gen'l 4s
4,979,000.
Company and Class of Bonds.
General Chemical Co., common.—
Preferred
Exchange old securities.
Common
5s
& Omaha—•
......
Consol. 6s
Houston Belt & Term. Ry. 1st 5s_.
Kansas City Term. Ry. 1st 4s
2,500,000. .Extensions & improv'ts.
96,000. .Exchange old bonds.
218,000. .Improvements.
10,000,000. .Impts. and real estate.
3,102,400. .Retire prior liens.
897,600. .Betterments, impts., &c.
546,0001 Additions, improvements,
&c.
465,0001
New Orl. Mobile & Chic. 1st ref. 5s
Retire old bonds, &c., un¬
der plan.
Northern Pacific Ry. prior lien 4s_ 1,084,000. .Double-track.
Virginian Ry. 1st 50-year 5s
.25,000,000.. Improvements,
Louisville & Nashville RR. uni-l
fied 50-year 4s
Minneap. & St. Louis 1st & ref. 4s.
Iowa Central Ry. 1st & ref. 4s__
27,000j
Total
...$161,136,700 '
...
ELECTRIC RAILWAY BONDS.
Company and Class of Bonds—
Amount.
Purpose'of Issue.
Chicago Rys. 1st 20-y'ear 5s.._:.$21,795,000L-Impts., extensions, &c.
do
do
do
25,000,000 ..Old bonds just listed,
Milwaukee El. Ry. &. light Co.—
Gen. and ref. 5s, Ser. A.
3,621,000 ..Impts., extensions,&c.
New York State Rys. 50-year
Ost/■ 4,918,033 ..Retire old 5s.
consol. 4Ms.
2,006,967 -Purch. Syr. R. T. Ry. stk.
New York Westchester & Boston,
1st 4J^s, Ser
_
I......
Virginia Ry. & Power Co. 1st and
refunding 5s
............
Total
2,900,000
855,9001
1,250,000J
./
...
General Motors Co.,com.
t. cfcfs.
v.
xcvii.
Purpose of Issue.
Subscribed at par.
427,090.. .5% stock div. Feb. 1.
I
preferred do
Homestake Mining Co., stock
Ingersoll-Rand Co., common
/
.
Debenture
Amount.
...
Illinois Division 33^s
1,185,000
.Improvements, &c.
Chic. & E. 111. gen. cons. & 1st 5s_.
258,000.-Second track.
Chicago Milw. & St. Paul Ry.—
Convertible 4 Ms
Subscribed at par.
8,064,700.
General 4s
4
50,000. .Improvements.
;
Milw. & Nor. lst4Hs
2,155,0001 Old bonds extended at 4H
do
do
consol. 43^s
5,092,000/
percent.
Chicago St. P. Minn.
[Vol.
.
I
498,300/ Acquire
Pulaski
MIn
Co. minority stock.
82,100\ Exchange for stock.
12,700/
3,276,000., .15% stock dividend.
182,400., .General purposes.
1,693,900- .25% stock dividend.
n
Internat. Harvester Co. of N. J.—
7% cumulative preferred30,000,0001 Reduced stock under plan.
Common
.40,000,000/
Internat. Harvester Corporation—
7% cumulative preferred
-30,000,0001 Part exchange Int. H. Co.
_Common
of New Jersey stock.
.40,000,000/
Kings County EI. Lt. & P. stock.. 2,794,100., .Exchange convertible bds.
Mexican Petroleum Co. com. stock 4,277,500 (
Acquire Huasteca Petrol¬
eum participating ctfs.
Miami Copper Co..
9,155.. .Exchange convertible bds.
Montgomery Ward & Co., 7%1
/ Purchase M. W. & Co.
cumulative preferred
(Illinois Co.).
/ 5,000,0001
National Nassau Bank of N.
Y.,1
500,000.. .Exchange old stock.
stock
/
500,000., .Subscribed at 150.
Nevada Consol. Copper Co., stock
2,715.. General purposes.
Ray Consol. Copper Co., stock
14,740/ Exchange Ray Central Cop¬
....
per
United Cigar Mfrs. Co., common.
600,0001
United Dry Goods Co., pref
U. S. Rubber Co. 1st
pref. n. c. 8%
Common
Mining stock.
purchase M.
Account
23,600.. Subscribed by .employees.
7,461,600' Exch. 2d pref. and Rubber
Goods Mfg. stock.
6,000,000, Purch. Rubber Regen. Co.
...
common
Utah
Copper Co., stock........
25,300j
.Construction of road.
Wesfhouse Air Brake Co., stocks.
500,000 .Constr. & disch'ge oblig'ns.
Total
A.
Gunst & Co.
stock.
Exch. Bingham. & Garfield
Ry. conv. bonds and stk.
1,302,700— General purposes.
$222,034,610
.$60,741,000
...
MISCELLANEOUS
BONDS.
"
Company and Class of Bonds—
Amount.
Purpose of Issue.
Amer. Telep. & Teleg. Co.
20-/$65,443,700..Subscribed by stockh'ers.
year convert.
4>£s
1,556,300.-Subscribed by syndicate.
Consolidation Coal Co. 1st & ref. 1
J Improvements, betterm'ts
40-year 5s
__/ 2,255,000\
and extensions.
General Baking Co. 25-yr. 1st 6s__
2,900,000..Acc't purch. properties.
General Electric Co. deb. 5s
10,000,000.-Working capital & impts.
Kings Co. El. Lt. & Pow. conv. 6s_ 2,500,000._Subscribed at
par.
Mortgage Bond Co. of N. Y.
10-20-year 5s, ser. 3
500,000..Acquire real estate mtges.
Niagara Lockport & Ont. Power) 1,900,000__Exch. prior bonds.
1st 5s
2,879,000..Property & equipment.
Pacific Power & Light Co. 1st and
ref. 20-year 5s
299,000..Additions & improvem'ts.
People's Gas Light & Coke Co. of
*
J. Chicago refunding 5s—
3,000,000._Impts. and construction.
Railway Steel Spring Co.—InterOcean plant 1st M. 5s
3,500,000..Purch. Inter-Ocean St'l Co.
State of N. Y. 4% bonds due 1942.
1,593,000..Constr'n of bargo terminals.
—
Also, we note the following, which, though not
listed, have been granted temporarily a quotation:
PART-PAID
.'
BUT
NOT
CERTIFICATES,
REGULARLY
FIRST
TIME
LISTED.
Delaware Lack. & West. RR.. stock, subscr.
rets., 50% paid.
Denver & Rio Grande RR., subscr. rets, full
paid for adjust, bonds.
Great Nor. Ry., subscr. rets, for
pref. stk., 2d install, paid.
Inspiration Consol. Copper, subscr. rets, for 1st M. 10-yr. 6s, 3d install.
75% paid "flat."
Nashville Chat.
Norf.
& St.
& Western
L. Ry. subscr. rets, for
full-paid stock.
Ry. subscr. rets, for conv. 4Ks, full paid "and int."
and part paid "flat."
The
.$98,326,000
The
TEMPORARY
Canadian Pacific Ry. stock, issue 1913 ($60,000,000),
60% install, paid.
Chicago Milw. & St. Paul Ry., temp, receipts for gen. M. 4)^s.
City of New York, temp, receipts for 4>£% corp.
stock, "and int." from
May 20.
:';v-
_
Total
AND
QUOTED,
new
•
(unlisted) notes for which
a
market
was
sought during the late half-year include, with others,
the following issues,
representing a total of 319 mil¬
leading bond issues included in this table, but
not specifically mentioned in the
introductory re¬
marks, are .first, in point of size, the 63 l/i millions
lions, and contrasting with 273 millions and 218 mil¬
of B. & 0. RR. convertible
lions for the first six months of the
years 1912
.
000 went to retire
remainder for
25 millions
a
43^s, of which $50,000,-
note issue due June 1
and the
improvements and additions; second,
5s of the Virginian
Railway on
1st M.
its 470 miles of
road, replacing old securities never
distributed; third, 22^ millions of new guaranteed 5s
of the Canada
fund
Southern, including 20 millions to re¬
maturing 1st and 2d M, bonds; fourth, Ch; Mil.
& St. Paul, 7 millions of extended Milw. &
Northern
bonds and 8 millions of convertible 4
subscribed
by shareholders
at par; fifth, Kansas
City Terminal
Ry., 10 millions 1st 4s; sixth, Atlantic Coast Line,
9H millions unified 4s, to retire old bonds, &c.
The several stock issues and the
embraced in the
objects of each
following compilation:
RAILROAD STOCKS.
t
Company and Class of Stock—
Atch.Top. & Santa FeRy.
Amount.
4
.
Purpose of Issue.
coml_$17,282,000__Exchange
Atlantic Coast Line RR., com....
Chicago & E. III. RR., preferred..
Cleve.
&
Pitts.
'
RIL,
spec.
are
convert,
at par.
bonds.
6,250,500.-Subscribed
161,300..Improvements.
guar.
betterment stock
2,019,100..Acquisitions & improve'ts.
Louisville & Nashv. RR., stock.__
12,000,000..Subscribed at par.
'
New
York
Central
&
Hudson)
2,851,800/ Exchange Rome Wat. &
River RR., stock......_______/
^
V '
Ogdensburer
&p
stock
N, Y N II & Hartf. RR. stock.!
.
Norfolk & Western
Ry.,
com.
Pennsylvania RR.,-stock..
Total
.!.
241,300:.Exch. Jonvertible bonds?
1,748,000..Exchange convertible bds.
.38,177,830—Subscribed at par.
V
.$80,731,850
ELECTRIC RAILWAY STOCKS.
Company and Class of Stock—
Amount.
Purpose of Issue
Brooklyn Rap. Tran. Co.,
stock_-$4,078,000._Exchange convertible
Total
PRINCIPAL NOTE ISSUES IN
Railroads and El. Rys.-—
Ala. Tenn. & Northern Ry
Ann Arbor RR.....:
Date.
Maturity. •
Amount.
May 1 1913 May 1.1916
$1,000,000
May 1 1913 May 1 1914 •
750,000
July 1 1913 July 1 1914
20,000,000
Mar. 1 1913 *Mar. 1 '16
450,000
Feb. 3 1913 Feb. 3 1914
10,000,000
\6% June 1 1913 June 1 1914'
17,000,000
Chesapeake & Ohio Ry
5% June 1 1913 June 1 1914
3,500,000
Chic.
Milw.
&
St.
Paul Ry.
(P. S. & W. H. Ry.)—
5% June 1 1913 ♦June 1 '18
2,999,500,
Com'wealth Pow. Ry. & Lt. Co.6% May 1 1913
May 1 1918 ;
7,500,000
Connecticut River RR____.
5% June 1 1913 June 1 1914
2,000,000
Eastern Power & Lt. Corp_____5% Mar. 1 1913 Mar. 1 1918
2,350,000
Erie & Central Penna. Ry
6% Apr. 1 1913 *Apr. 1 '16
650,000
Interborough-Metropolitan Co.6% July 1 1913 Jan. 1 1914
2,039,520
Lake Shore & Mich. Sou. Ry__/4J^ Mar. 1,5 '13 Mar.
15 '14
12,000,000
\5% May 15 '13 May 15 '14
10,000,000
Massachusetts Electric Cos__.>__5% May 1 1913 May 1 1915
3,100,000
Michigan Central RR...
__4Vi Mar. 1 1913 Mar. 1 1914
4,000,000
Middle West Utilities Co.
6% June 1 1913 *Junel 1916
2,000,000
Minneapolis & St. Louis RR...6% Feb. 11913 *Feb.l 1914
3,000,000
Missouri Kan. & Texas Ry...",5% May 1 1913
*Mayl 1915
19,000,000
National Rys. of Mexico..,
6% June 1 1913 *Junel 1915
26,730,000
New Orleans Ry. & Light Co.-.6% June 1 1913 *Junel
1916
2,500,000
N. Y. Cent. & Hud. Riv. RR_/5% Apr. 21 '13
*Apr. 21 '14
20,000,000
IN'ne'May 15'14 May 15 '14
2,000,000
Pittsburgh & Shawmut RR-.—6% Juno 1 1913 June 1 1914
2,500,000
Republic Ry. & Light Co.
5% Apr, 11912 *Jan.l 1916
600,000
Seaboard Air Line Ry
5% Mar. 1 1913 *Mar. 1 *16
; 6,000,000
Southern Pacific Co.-.
5% June 16 '13 June 15 '14
20,000,000 ■
Southern Railway
—5% Feb. 1 1913 Feb. 1 1916
5,000,000
Syracuse Lake Sh. & Nor. Ry__5%
1913
•
350,000
Toledo Trac. Lt. & Power Co._6% Feb. 11913 *Feb.l 1918
6,000,000
Union Ry., Gas &; Elec. Co..-_5% Mar. 1
1913 *Mar. 1 '16
1,500,000
Western Maryland Ry
.6%
1912
Jan. 1 1914
3,000,000
—
.
—
Total railroad and street railway notes, &c_
Miscellaneous Cos.—J
,
Amount.
Amer. Brake Shoe &
Fdy., com.. $1,000,000)
Preferred
1,000,000J
Amer. Coal Products Co., common
American Malt Corp.,
common._/
Amer. Snuff Co., pref.
(new)
|
Amer. Tel. & Tel. Co. stock
Amer. Tobacco
Co., pref. (new)..
California Petrol.
Co.,
....
_
General Electric
com.
v.i.c.
pref." do
_
Chino Copper Co
Detroit Edison Co.
_
Co...6%
3,890,900V Acquire securities controll'd
1,063,200/
'cos., and cash.
convertible
bds.
convertible
bds.
2,600,000. .Construc'n & extensions.
23,297,000.-30% stock dividends.
convertible
---—$219,519,020
Date.,
Maturity;
Amount
Feb. 1 1913*Dec.'13:'14-'15 6,000,000
Mar. 15 '13 *Mar. 15 '15
12,500,000
Mar. 1 1913 *Mar. 1 '16
1,000,000
July 11912 *July'15-'17
1,200,000
May 15 '13 *May 15 '18
5,000,000
J'ne25 19l3 Feb.25 1914
15,000,000
Apr. 11913 *Apr.l 1916
1,200,000
May 1 1913*May 1 1918
4,000,000
Apr. 1 1913*Apr.l'14-'18
1,000,000
Mar. 10 '13 *Mar. 10'14
3,500,000
.6%
6%
1913
1914-15
3,000,000
6% June 2 1913 *Junel 1918
4,000.000
International Motor Co
6%
1913
1914
1,500,000
Lehigh Coal & Navigation Co..5% July 1 1913
*Julyl 1914
1,500,000
Manufacturers
Co., Boston.__5% Mar. 1 1913 *Mar. 1 '16
1,000,000
Packard Motor Car Co
6% Dec. 1 1911 *Dec.l 1916
3,000,000
Pacific Light & Power Corp
6% May 1 1913 *Mayl 1916
2,500,000
People s Wat.Co.,Oakland,Cal.7%
1913
1,250 000
Rumely (M.) Co
6% Mar. 1 1913 *Mar. 1 '15
10,000,000
Standard Gas & El. Co.
6% June 2 1913 *J'ne'14-'16
3,000,000
Standard Oil Cloth Co. of N. Y.6%
Sept. 1 1912 *Dec.l '13-'17
700,000
Union Oil Co. of California....6%
May 1 1913 *May *14-'19
2,000,000
Union Typewriter Co.:...
5% Jan. 15 '13 *Jan. 15 '16
4,000,000
United Fruit Co
:
r--6% May 1*1913 *May 1 '17
12,000,000
—
Petroleum Co
Internat. Cotton Mills Co
\
disintegration plan. "
9,714,200..Exchange convertible bds.
156,600/ Exchange old stock under
\
disintegration plan.
265,300..Exchange
.5%
7%
.6%
6%
5%
Cramp Ship & Eng. Big. Co
General
100,000..Purch. Peters Pap. Co.stk.
l,900._Exch. stock old company.
97,000 (Exch.
old
stock
pending
1
disintegration plan.
202,300/ Old
stock
reduced
per
291,910^.Exchange
stock...
5%
Gas Securities Co._
Purpose of Issue.
Acquisitions.
stock—IIl'If 1,563,700..Exchange
Co.
_5%
5%
Consolidated Gas Co
Four States Coal & Coke
Company and Class of Stock—
.Int.
,
Agricultural Credit Co.:
Amalgamated Copper Co.
Elk Horn Fuel Co.
MISCELLANEOUS STOCKS.
v
6%
6%
_
Baltimore & Ohio RR
5%
Birm'ham & Northwestern RR6%
Boston & Maine RR
,.15%
—
$4,078,000
FIRST HALF 1913—NOT LISTED.
Int.
American Bank Note Co
American Locomotive
Cities Service Co.
bds.
[and
1911, respectively
bds.
.
Total miscellaneous companies.
Total railroads, street
»
Subject to call at
an
.......
railways and miscellaneous
earleir date at
a
certain
$99,850,000
--.$319,369,020
ice at company's
option."
I
Aug. 2
continued, will not be carried to a
action.
market for the 2% bonds,
just as there is for many inactive although high-grade corporation bonds,
and every one knows how easy it is to put up or down the quotations for
such bonds, especially when a favoring state of mind has been skilfully
the hope that the process, if
expresses
point where the Department will have to take
There is, and always has been, a narrow
LEGISLATIVE AND FINANCIAL NEWS.
BANKING,
of bank stock were sold at the Stock
and none at auction. The auction sales
of trust company stocks amounted to 60 shares.
Extensive
tables reporting bid and asked quotations, deposits, surplus,
&c., of banks and trust companies in all important cities in
the United States are published monthly in the "Bank and
Only three shares
Exchange this week
Low.
BANKS—New York.
Bank of_— 175
*3 Commerce, Nat.
TRUST COMPANIES—New
40 Mutual Alliance
and
Trust Co.130
the
to
7-7.
'
a
G. McAdoo,
dealing with the decline in Government bonds,
in which the charge
interests of the country.
The Secretary's
sensation was caused in banking and financial cir¬
cles this week by a statement given out on Monday, after the
close of business, by the Secretary of the Treasury, William
Quite
emphasis, that there is not going
financial trouble, that the large crops now in prospect are going
without difficulty; and that the powers of the Department
exercised in their greatest amplitude for the protection of the busi¬
be moved
ness
■■
could easily be met through recourse
held in reserve, which can
the use of the resources of the Treasury
to be any
would be
.7:
the banks need it, or by
Department, or both.
*
,In conclusion, the Secretary said, with
*Sold at the Stock Exchange.
—♦
the Secretary said, it
$500,000,000 emergency currency now
be issued if
Dec. 1912— 1341
May 1913— 13534
1000
130
continuance of
a
gency appear,
to
High. Close.\ Last previous sale.
175
175
July 1913— 175
1000
130
stability of the financial situation and
welfare of the banks, the
the prosperity now attaching to agricultural and in¬
dustrial enterprises and general business.
>
For these reasons, the Secretary said that he hoped the banks would
not consider a suggestion from him Impertinent.
In many quarters', there
is a disposition on the part of the banks to restrict legitimate credits.
There is nothing in the situation to warrant such a course.
The banks
should not put undue restraints on business.
Should any unusual strin¬
in
York.
Farmers'Loan & Trust Co_^_ 1000
20
relation to the banks, and its neces¬
in the financial affairs of the country, a deep inter¬
Department has, because of its
est in the
Bid and asked quotations for all
City bank and trust company stocks are also
published weekly in another department of the paper,
will be found to-day on pages 282 and 283.
Shares.
The
sarily important part
"Chronicle."
York
New
created.
issue of which accompanies
Quotation Section," the August
to-day's
271
CHRONICLE
THE
1913.]
is made that New York City banks are
allegations of a concerted effort to
de-
the bonds is everywhere declared to be without warrant.
It appears that the $25,000 U. S. 2s sold Saturday last at
953^, the low point for the movement, were sold "s-20,"
that is, the seller has 20 days in which to make delivery,
and the Committee on Business Conduct of the New York
press
had E. A. Maniee of E. A. Manice &
made the sale, before it with the view
to determining whether there was anything irregular about
this transaction.
It has been suggested that it may have
nounced that the national banks would not be called upon to
However, $10,000 Panama 2s, 1936,
put up additional security to make good the decline that has been a short sale.
occurred in the value of the bonds, and then added that the also sold at 953^ the following Monday (July 28) in the regu¬
It has also been noted that the $25,000 U. S. 2s
decline was due "not to any impairment of their intrinsic lar way.
value, but almost wholly to what appears to be a campaign "s-20," sold at 95H last Saturday, were taken by the Na¬
waged with every indication of concerted action on the part tional City Bank, and that this institution would hardly
be a purchaser of the bonds if it were a party to an attempt
ofa number of influential Ne^ York. City banks to cause ap¬
prehension and uneasiness about these bonds, in-order to help to depress the bonds. Yesterday, on the announcement of
them in their efforts to defeat the currency bill."
He ex¬ the Secretary's contemplated addition of $25,000,000 to
pressed the hope that "the process, if continued, will not be $50,000,000 to Government deposits, and his statement that:
Government bonds would be accepted at par as security, a
carried to a point where the Department will have to take
action," and advised the banks not to curtail accommodations sale of $5,000 reg. 2s was reporded on the Exchange at
983^.
Newspaper interviews with bankers all over the
to borrowers.
Mr McAdoo's statement in full is as follows:
United States show that the suggestion that • the banks
The Secretary has been asked if it is the purpose of the Department to
would engage in an attempt to depress their own assets
call on the national banks for additional security because the 2% bonds
selling below par.
is regarded as absurd,
and being severely criticized.
The Secretary said that, while the law conferred that discretionary power
Adequate reasons for the decline are found in the new bank¬
the Comptroller of the Currency, it is not his intention to require the
banks to charge off the present nominal depreciation'below par of the 2%
ing bill itself.
We have not the space to quote from many of
bonds.
So far as the Department is concerned, the banks may continue to
the interviews, but insert here the reply made by A. B. Hep¬
return the 2% bonds at par in the statements they make to the Comptrol¬
burn, of the Chase National Bank.
Mr. Hepburn said:
ler.
This policy will continue unless some material change in conditions
view of defeat¬
Stock Exchange has
Administration bill for the revision of the
country's banking and currency system.
The Secretary an¬
Co., the firm which
engaged'in depreciating these bonds with the
ing the Glass-Owen
.
are
on
The Secretary said that
their decline in the New York market, a
waged with every indication of
New
the part of a number of
and uneasiness
help them in their effort to defeat the cur¬
concerted action
7;
bill.
idea
The
seems
to
bill
is
If they
going to
which hold about two-
banks in opposition to the
can be made to believe that* the proposed currency measure
injure these bonds and cause losses to the. banks.
This is, of
unfounded.
because of any
sacrifice
a
ernment
bonds,
as no
existence, the Government has kept faith
If the necessities of any
that, of
course,
bank to sell Government
apprehended legislation adverse
such legislation will result.
and it is not going to change
to Gov¬
In the 124 years of its,
scrupulously with its creditors,
its honorable character now.
bank oblige it to sell bonds at>
depressed prices,
bank to deter-
is another matter—a matter solely for the
mine.
Government is engaged in a
delicate and difficult task in
seeking to
great indulgence
and support so far as the proposition it may eventually bring forth may be
worthy of support.
The main difficulty, which the Administration at
the present time is encountering is with the extreme radicals of its own
party.
If Secretary McAdoo can create the conviction that Wall Street
is opposed to the pending currency measure,- that may prove a conclusive
reason why these radicals should support the bill.
I can see no other object
in his issuing t/he statement, for the statement will not help the cause for
revise our credit and currency
which he pleads
throughout the country.
disposed to be critical, and
While not
the
system, and is entitled to
,
await
before making
believing that one should
completion of the Administration's currency measure
the same, nevertheless the Secretary's statement
attention to the facts.
.
The Government, in the exigencies of a civil war, and in order to make a
market for its bonds, thereby enabling it to raise funds with which to prose¬
cute said war, created a Currency monopoly in its.own interest and made its
own bonds the sole basis upon which such currency could be issued.
This
measure not proving sufficiently efficacious, and State
bank circulation
continuing to serve the public in the majoif degree, Congress imposed a
10% tax upon State bank circulation, thereby forcing the same out of ex¬
up
his mind in regard to
justifies calling
"
Meantime, the Secretary said, it is folly for any
2s at
■
' 77
'7'77 '7 --
'■■
the basis for their circulating notes,
be induced to unite with the New York City
course,
•
on
be that the country banks,
thirds of the 2 % bonds, and use them as
may
decline due, not to any impairment
wholly to what appears to be a campaign
City banks to. cause apprehension
York
about these bonds, in order to
rency
notwithstanding
the 2% bonds are worth par,
of their intrinsic value, but almost
influential
The
adoption of another course.
should compel the
istence.
\
maintained, and by means of
been able to sell to the banks bonds
bearing 2% interest at a price at least 30% above their investment value,
Banking and Currency Committee of'the House enhances their intrinsic
worth.
'
7.
.' •
7 '• 7. realizing as high as 107 for some issues. These bonds were selling at
about 1003^-101 at the time Secretary McAdoo assumed office.
The cir¬
First—Because the banks and all other holders of 2% bonds are to have
culation privilege gave these bonds an abnormal value, and hence the banks
the privilege, not now possessed, of exchanging the 2s for 3s, without the
became almost exclusively the only purchasers and holders.
They could
circulation rights, at the rate of 5% per annum of their holdings, present
afford to buy these bonds, inasmuch as they could obtain immediately
or hereafter acquired.
So long as they do not make the exchange, they may
from the Government an amount of currency against the same equal to
retain, or sell and buy, the 2% bonds, and exercise the circulation privilege
The
Secretary said that, not only had nothing
value of the 2%
bonds, but. that the amendment already
adopted by the
Second—At the end of twenty years the Government
will pay at par
bonds which at that time remain -outstanding.
thereby impaired.
882,130
are
As only $13,900,000 of the 2s out of a total of
used to secure Government deposits, it
trivial this is.
If these bonds
are not
used to
can
secure
•
Nearly all of the 2s are owned by the banks.
If the price is
it Is because the banks themselves are putting pressure on
depressing the value of their securities.
seem
the
$730,how.
be
be readily seen
deposits, they can
used for additional circulation.
marked down ,
the market
The fault Ls their own.
and
It would
partlofjgoodlsenseland'goodlbusinesslnot tOldo!itJS.The Secretary
The
and
In view
of the fact that the 2s have no due date, and are payable after 1930 only
at the option of the Government, the definite promise of payment at the
end of twenty years is distinctly beneficial to the holders of the 2 % bonds.
The Secretary spoke with amusement of the grave statements sent out
from New York to the effect that if the Currency Bill shall pass, and Gov¬
ernment deposits are put in the Federal Reserve banks, the 2% bonds now
used to secure deposits will be thrown on the market and their value
all 2%
monopoly has ever since been
snug
this monopoly
the Government has
their par value.
attached thereto.
Interest
This
occurred to impair the
of
Democratic Party has on more than on
bank currency and the substitution
in its stead,/
This policy has been advocated by
national platform of the
occasion
demanded the retirement of
Treasury
currency
people conspicuously connected with the present Administration, and nat¬
urally the public, and especially the holders of these bonds, were alert
to know what action might be taken with reference to bank-note circula¬
and a very good
other things, it
provided for refunding the 2% bonds into a bond bearing a rate of interest
calculated to make the same worth par upon an investment basis.
Sena¬
tor Owen and associates prepared a bill, dealing with the currency question,
without any reference whatever to the 2% bonds, and in a published] inter¬
view he" announced that nothing would be done with reference to the bonds
at the present time—that would be left for future consideration
When
these two bills Were brought together, the composite or compromise bill
contained no provision whatever for the refunding or protection of these
2 % bonds, and it was announced from Washington, through the press, and
tion.
A bill was
bill it
was
prepared by Mr. Glass and his conferrees,
and purpose. Among
in its general features
212
CHRONICLE
THE
published far and wide, that the
in that form commanded the ap¬
measure
institution, corporation, association
proval of the Administration.
Now
we
other, in conjunction
have the banks
of such
owning something over $700,000,000 of these 2%
bonds, against which they have taken out something over $700,000,000
circulation.
monopoly which it had created in its
cured circulation.
Government
interest, and to authorize the
own
make
circulation, to be secured by the current
of the banks—an additional
amount
of the bond-se¬
equal to 70%
Mr. McAdoo and his conferrees certainly ought to
one
I have just described
Also, in
as to
composite
bill, to
Every
good
bill, or the one now pending in committee.
7,000 national banks in the country is capable of exercising
one of the
and will apply
which the Government may enact.
It
was
preciate the price .of these bonds.
have sought to limit their loss by
inevitable, and ought
mately
par
for the
Small
wonder
that
Be it
banks may
some
par or
same.
priate
aiJd
also
a
legislation.
the making of the said order by the Secretary of the
upon
duced
'
,
They have for nearly
at an inadequate profit to themselves, provided a banknote
which, while inelastic, has been absolutely safe.
They have made
market for Government bonds at high prices.
They have been a source
to the Government in that
they have paid to it in taxes
and above all the expenses of the
over
of
McAdoo.
the
charge
the market price of their
basis for circulation.
these
days
of the
banks
of
fierce
'
competition
bank.
There does not
One effect of
seem
cease
nouneement made
A
that Mr.
mahipulatiori.
renew
his request for
on
•
It is the
on
to induce
Treasury
Committee
denials
of
the
New
York
In
in¬
that
his
bankers.
experience
as a
member of the money trust committee had
opposed to
slump
.
grilled most
a
of the party leaders in
some
Congress
continuance of the Pujo investigation,
as
He added:
stock-jobbing crookedness by this time, and this $30,000,000
would have occurred.
never
fears is the
facing of
a
One of the things a Wall Street gambler
committee of determined
men,
possessing both the
and the desire to disclose such facts, especially when he knows that
power
his refusal ta 'come
through'
means
a
jail sentence for "contempt.
"Plotting against Government bonds is not the only sin of the individuals
referred to by
should be summoned before the Committee
York should be sent for at the earliest possible
moment, placed upon the
before the Banking and Currency Committee and
declared
"Had the Henry resolution passed, we would have known the balance of
Secretary McAdoo.
they can palm off on
Banking and
stand
Neeley
proposed by Representative Henry of Texas.
Wal Street's
Currency instanter and should reveal the facts to the
American people as their agent, and the head of every great bank in New
Mr.
conspiracy.
were
■
may
the
the
resolution,
immediately investigate these
thoroughly, in order that the American people
about this controversy.
'
'
the
became known that
resumption
the part of the Secretary of the Treasury.
The Secretary of the Treasury
on
of
to
was correct in his charges
He asserted that "every dollar of the slump
in the price of .Government bonds had occurred since' it
Who will doubt his charges and
to
referred
the
of
imperative duty of Congress to direct the
Banking and -Currency
specific charges
was
a
McAdoo. literally states the truth about this bond
are many
Secretary
convinced him that Mr. McAdoo
In reply " to the an-'
"
,
However, there
defend these banks.
Committee
or
troducing
by Mr. McAdoo, he issued the following
statement:
sure
be reversed
appear
of
made
banking profits,
be any adequate basisfor
to
"Money Trust" investigation.
am
either
.
Secretary McAdoo's statement
Congressman Henry to
I
shall
by Congress through its appro¬
reversal of any order or action of the
was
'
diminished
and
the apprehension of the Secretary of the
Treasury on this subject.
of the
or
by the resolution, it is
before the Banking and Currency Commit¬
tee, or a sub-committee of that body, to present proof of his
charges.
It is also provided that an investigation be
intelligent bankers do not deny credit to borrowers of good character who
offer sufficient collateral security arid
agree to pay adequate interest rates,
provided only that the making of. the loan does not unduly diminish the
reserves
same
Mr. McAdoo is called upon
stated, to
2% bonds which will inevitably
result when the system is established under which these bonds will
a
or
of
The resolution
Rules.-
on
than
more
Comptroller's Bureau.
It is only just that compensation should be made to the national
for that fall in
In
the
Treasury
resolution in the House proposing a committee in¬
a
vestigation
years,
to be
until
provided for revision
avenues
Yesterday (Aug. 1) Representative Neeley of Kansas, a
the Banking and
Currency Committee, intro¬
currency
revenue
the
as
member of
natural apprehension as to the possible results
The national banks deserve well of the
country.
$150,000,000
.
of the Secretary of the Treasury made in
authority shall be subject .to revision by Congress
gave notice that at
early date he would address the Senate thereon.
an
The recent fall in the prices of Government 2s is not due to
any bankers'
conspiracy, but it is due to
"
j
order
any
Banking and Currency Committee and
RR., had the following to say.
We quote from the
'/Public Ledger" of Philadelphia for July 30:
of
to withdraw the charters of said insti¬
Senator Lewis asked that his resolution be referred to the
director of the Pennsyl¬
a
vania
a
or
favors of the Treasury of the
Secretary of the Treasury.
the Western Savings Fund
50
order
modified by the Secretary of the
In Philadelphia, C. Stuart Patterson, who is President of
new
and
of the people of the United States.
moneys
Treasury and remain in effect
bear revision.
of
or
person,
association
and instances in his judgment justified, he shall have the
That
immediately
arti¬
cle, that nothing had occurred to impair the value of the 2% bonds, will
-
privileges
any
or
corporation,
further resolved. That the order of the said Secretary of the Treasury
the heretofore-named
authority vested in him shall go into effect
within
approxi¬
In view of the above facts, the Secretary's statement in his
prepared
>.
institution,
through its appropriate committees in the regular form of legislation
procedure of Congress permits.
other effect than to de¬
selling when they could get
institution, corporation
said
public
pursuance of the above
have been easily foreseen by the parties responsible therefor, that the
no
enjoying
of the
or
cases
Provided,
that judgment to anycurrency
proposed legislation at Washington could have
such
depriving the said institutions of any right or privilege by them or it en¬
joyed under the United States Treasury or the office of the Secretary of the
Treasury of the United States.
the 2% bonds, which they had eliminated from the
business judgment,
measure
to
the
in¬
or
are issued by or under the
authority of the
Department of the Secretary of the Treasury; and shall have authority
and privilege to issue any other order, arid
carry the same into effect,
When the price of the bonds began to go down
and they began to hear from the country, they made haste to restore the
Glass
authorities of such Institution
or
tutions, wherever such charters
In the city of Washington.
refunding provision
from
right and privilege by public
the part of the public men
on
the agents
or
prohibiting the
United States
have
no other possible effect than to
seriously and ma¬
terially depreciate the price of the 2% bonds.
The only conspiracy, if
conspiracy there be, to depreciate the price of
bonds is the
in combination with each
person,
separate, to duly cite before him the representative
or
deposits
order
person from further
known that it could have
these
institutions,
or
xcvii.
stitutions, and in due hearing, if the said fact be established to his satis¬
faction, he shall have the right and the privilege to publicly withdraw the
The Government steps in and
proposes to violate the currency
issue of $500,000,000 additional
assets
[Vol.
a
Mr. Neeley
valued
crops
of this
y
declared that last
gang,
know the exact facts
>
•
stock and bond
•:
but
that
"through
they received $6.000,000,0Q0
.*
manipulatio
the
therefor."
♦
■
produce*1
.
the farmers of this country produce
year
$13,000,000,000,
at
same
every
gullible public, and have plundered the
of this country for years."
<
They traffic in
.
'
■
.
.
.
.
The
Secretary
of
the
Treasury
"
can
and
doubtless
will
exactly how these gentlemen manipulate the market, put up and down prices
of United States bonds and control the financial destinies of
the American
.people.",
On
'■
;
-
the other hand,
The
demonstrate
special committee of bankers appointed by the St.
Louis Clearing
its report on
.
Representative Glass: of the House
House Association;on July 28 made publio
the Glass^Owen
to the authors of the bill at
Chairman of the committee.
Banking and Currency Committee declared that the Com¬
was
mittee had its hands full in
proposed bill seeking
currency
I bill
considering the Administration
and that it did not
from its purpose.
propose
to be diverted
"It is important that the
currency
be completed," lie said, "and the committee will not
at
tangent to investigate anything".
a
On
July 30
Senator James
bill
fly off
Hamilton Lewis
of
sent copies
and
Festus J. Wade
It is pointed out
that the
adjustment between country banks
cities requires that the reserves in
an
reserve
,
the vaults of the, country banks shall be raised from 6 to 10
cent.
per
"It is
Illinois
-
The committee would have the country banks
only 5
carry
-
in
banks
and
bill
currency
Washington.
per
cent reserve in their vaults..
quite clear",
bill
had
says
mind
in
\
•
the statement, "that the.fram.ers
introduced
of
the
deposits in New York City.
In the first place it is a great
mistake and really a misfortune for any one interested in
a resolution proposing
to give the Secretary of
Treasury authority to punish the banks, for acts such as
alleged by Mr. McAdoo, by withdrawing Government de¬
the
posits from the offending banks and also by withdrawing
the development of
from them their Federal charters.
such
The
following is the text
Whereas, The Secretary of the Treasury has proclaimed that certain banks
institutions, existing by virtue of the laws of the United States,
any
privileges by favor of the people of the United States, have banded them¬
together in some form of arrangement and proceeded in execution
selves
Of such arrangements to intimidate
the
United
of their
States
Congress and terrorize the citizens of
through inciting fear
of
a
panic;
and,
in
pursuance
scheme, have falsely depressed securities of the United States and
discredited the bonds of the United States Government and
placed them
at dishonor before the world, all for the
object of
influencing legislation
contrary to the popular will arid to defeat the President of the United
says,
Whereas*
Such
financial
its stability;
centre
Proceeding,
money
to
the committee
papers:
is, or should be, proud of New York, its greatness,
and with the changes above suggested
we may
confidently look
forward to making New York not only the financial centre of the United
States—as it
centre of
is now and has been for more than
a
century—but the financial
the world.
The statement
recommends that the
Central reserve cities, 10 per cent
counted
profitable to the personal objects and purposes of such
and
failure."
according to the daily
reserve
institutions;
a
Every American citizen
States speaking in behalf of the
people; and to force legislation along such
shall be
natural
drastic law attempting to stop the flow of
lines
as
the
States—always has been and always will be;
New York will be
and doing business by favor of the laws of the United
States, and exercising
centralization of
the
the nation to endeavor to accomplish
New York is
end.
of the United
of the resolution:
and banking
an
decreasing
reserve be
fixed by the bill as follows
in vaults, 10 per cent in reserve banks;
cities, 6 per cent in vaults, 6 per cent in
as reserve
reserve
when with stockholder members of
bank, 6 per cent
reserve
bank; country
banks, 5 per cent in vaults, 3 per cent in reserve bank, 7 per cent on de¬
cqurse
and conduct, if true
as
charged,
is
an
offense
against patriotism and in violation of the
dqty of such institutions due to
the citizens of America, to the
prosperity of its people and the honor of the
Republic;
Therefore, Be it resolved that
the Secretary of the Treasury be authorized
in all instances where he has evidence of such
conduct on the part of any
posit in banks that are stockholders in reserve banks.
The St. Louis bankers say that the currency bill makes inadequate pro¬
visions for the retirement of the Government 2 per cent bonds which are
the basis of the national bank notes.
They assert that the publication
of the currency bill and the demand of. the Secretary of the Treasuryifor
interest on Government deposits—the Government 2 per cents may be
put-up as collateral for Government deposits—havejbeen largely responsible
Aug. 2
In the market price of the 2 per cent bonds
aggregated more than $25,000,000 within thirty
for the drop
tion has
declared to be "the solemn duty
It is
chase
of the Government
party
conference.
however/^his
The Government should immediately pur¬
and retire $25,000,000 to $50,000,000 of these bonds
and therefore would invite the Republicans
Upon word from the White House,
measure
the
into
it is stated, was altered.
purpose,
nation.
par."
at
previously said that he did not favor making the bill a
Owen
prevent a further decline of these securities, as it dis¬
credits the unequaled, unexampled and unparalleled credit
Senator
through both houses of Congress.
and thus rush it
until the deprecia¬
days.
to
of the
373
CHRONICLE
THE
1913.]
•
It is also
■.
On Thursday,
made
■
recommended that the Government assume a
a new
July 31, Secretary of the Treasury McAdoo
move
when he announced that, to facilitate the
$25,000,000; to
the crops, he would deposit
Movement of
retire the 2 per cent bonds at the rate $50,000,000 of Government cash with the banks in the West
and the South.
The banks are to repay these special de¬
of not less than $3,000,000 a month until every 2 per cent
bond is paid off.
As these bonds are retired, an equal amount posits in installments—15% in December, 30% in January,
of national banking circulation could also be retired and the
30% in February and 25% in March next.
As security for .
the deposits, the Secretary will accept, for the first time in
notes of the reserve banks could be automatically expanded
the annals of the Treasury Department, prime commercial
to cover the amount monthly retired.
"Force Bill" is the term applied to the provision of the
paper (approved by the local clearing house) in addition to
U. S. Government and high-class State, municipal and other
bill which requires the national banks to obligate themselves
bonds.
Government bonds are to be accepted at par, and
to become liable for 20 per cent, and to contribute 10 per
bankers see in this an attempt to restore the value of U. S. 2s.
cent of their capital and to contribute from 5 to 10 per cent
of their reserve.
The Committee contends that" there A similar purpose is seen in the condition imposed that only
should be "not more than twelve reserve banks".
It says banks which have taken out at least 40% of their authorized
circulation will be entitled to receive any of these special
that in attempting to mobilize the funds of the country the
bill is working in the right direction, but argues that the less
deposits.
The effect of this requirement is that Government
reserve banks the better.
As to the mobilization of reserves bonds will have to be purchased by the banks whose circu¬
lation falls short of 40%.
Municipal and other bonds are
provided for in the currency bill, the statement says:
Whileone general bank would be so much better wherefall the reserves are,
to be accepted at 75% of their market value, and commercial
definite obligation to
providing, as it does, for not less than twelve Federal
onerhalf the surplus money of
the nation in twelve units rather than 26,000 units—must be acknowledged,
even by the most critical and sceptical, as being a step in the right
direction.
mobilized, still the bill,
The chief developments
cepting mercantile paper as
,
„
the following:
The chairmaa of
-
,
the Democratic conferences on
banking and currency
gentlemen of the press that the conferrees have
decided to ask for a caucus on August 11 for the consideration of such
a report as may be made on the pending currency bill.
Further than this
the chairman is not authorized to speak of to-day's conference.
s
authorized to say to the
Notwithstanding the injunction of secrecy,
"Tribune" reports that on
the New York
Tuesday Representative Bulkley
the powers of the
sought to strike
from the bill sub-section "C" of Section 12, which gives the
Board power, among other things, to suspend for a period
not exceeding thirty days, and to renew such suspension
for periods not to exceed fifteen days, any and every reserve
requirement specified in this "Act".
The Bulkley motion,
the "Tribune", says, was defeated 8 to 3.
At ^Thursday's
conference of the Democratic members, according to the
daily papers, an amendment offered by Chairman Glass was
adopted providing for an advisory board of bankers to meet
again met defeat in an attempt to curb
Federal Reserve Board.
Mr. Bulkley
■<
the first Secretary to accept
was
security, for public deposits.
bonds ,as
Administration Banking Bill by the Democratic
was
anything but U. S.
The Act of March 4
1907 provides that the Secretary of the Treasury shall re¬
quire national banks "to give satisfactory security by the
deposit of United States bonds and otherwise for the safe¬
keeping and prompt payment of the public money deposited
with them."
Mr. Shaw, when Secretary,, construed the
words "and otherwise" as if they read "or otherwise," and
thus derived authority for accepting State and municipal
bonds, and Secretary McAdoo, evidently adopting the same
interpretation, proceeds a step further and finds warrant for
accepting commercial paper.
Mr. McAdoo's announce¬
who
this week in the consideration of
members
of the House Banking and Currency Committee have been
that, as a result of the intervention of the President, it was
agreed on Monday that absolute secrecy should be hereafter
observed as to all future conferences of the Democratic
members and that on August 11 there is to be a Democratic
caucus to pass upon the bill as it may then be presented by
the Democratic majority of the Banking and Currency
Committee.
It is understood "that Chairman Carter Glass
cast the deciding vote in favor of secret sessions with the
approval of President Wilson, the growing friction between
the radicals and the ultra-radicals having become a source of
great embarrassment to' the Administration.
The only
statement made by Mr.. Glass with reference to the matter
the
face value. It is understood that in ac¬
collateral for Government de¬
posits, Mr. McAdoo has construed the provisions of law in
that respect even more liberally than did Leslie M. Shaw,
at 65% of its
paper
banks—making it possible to mobilize
reserve
,
.
is
ment in full
as
"
follows:
"
facilitate the movemen
and marketing of the gunusually large crops which are now beginning
to be harvested, he has,determined to transfer from the Treasury to the
national banks in the West and South, where such funds can be most ad¬
vantageously employed for this purpose, from $25,000,000 to $50,000,000.
The Secretary said' that it is not practicable to scatter these funds by
depositing them in the smaller cities, especially in view of the character
of securities which must be required for these special deposits.
Therefore,
the funds will be placed with the national banks in the two or three principal
cities in each of the States where harvesting is in progress, and where the
demand for funds for moving crops can most conveniently be accommo¬
Secretary McAdoo
'
dated.
announced to-day that, to
,-V'°
,;;
require the banks to return the money to the public
shall have been moved.
The "present suggestion
be repaid in December, 30% in January, 30% -in February and
The Secretary will
Treasury when the crops
is that 15%
25% in March next.
In
order
curities
to make these
special deposits available to the
readily within their reach, the
banks on se¬
security
Secretary will accept as
addition to Government and high-class State,
municipal and other bonds.
The commercial paper submitted shall first
be passed upon and approved by the Clearing-House committees of the
cities in which the banks offering such paper may be> located.
All commer¬
prime commercial paper in
cial paper
tary.
par;
and bonds must finally be
passed upon and aeceptedby the Secre¬
; /•.
.
security for such
As
other bonds at 75% of their
paper
,
deposits, Government bonds
at 65% of its face
will be accepted at
market value and approved
commercial
value.
created
these funds.
The names
political board and wholly deposited and other details of the arrangements will be announced later.
without
qualification to regulate banking affairs.. The Steps are now being taken to carry out the plan so that the funds may be
'
board proposed is to act in an advisory capacity entirely," promptly available for the movement of the crops.
Deposits will be made with those banks only which have taken out at
and is to consist* of one banker from each of the proposed
least 40% of their authorized circulation.
v
' \
'
'
'
Federal reserve banks, of which there will be twelve at the
start.
But the members of the Advisory Board are not to
Expressions of opinion from the officials of the National
have any vote and the Federal Reserve Board is to remain
City Bank of New York on the bill pending in Congress
supreme, acting according to its judgment and discretion
for the reform of the country's banking and currency system
after conferring with the Advisory Board.
Yesterday, by a
were made public on Saturday.
Three of the officers of the
vote of 7 to 5, it was decided to strike out the Glass-Wingo
bank, namely President Frank A. Vanderlip and Vice-Presi¬
amendment prohibiting interlocking banking directorates.
dents Joseph T. Talbert and H. R. Eldridge, each a compe¬
Another amendment adopted permits banks to drop their
tent authority, collaborate in an extended analysis and dis¬
reserves against deposits from 25%
to 20% within sixty
cussion of the provisions of the bill.
Mr. Eldridge confines
days after the bill becomes a law instead of in two years.
himself mainly to condensing the opinions of correspondent
the criticism leveled at the
Federal Reserve Board
The
Government
will
on
by the bill, namely that it will be a
rate of 2% per annum
of the banks with whom the funds will be
charge
interest, at the
■
♦
On
July 29 Senator Owen, Chairman of the Senate
Banking
he had obtained
unanimous consent of the Democratic members of his
and Currency Committee, announced that
the
the currency
The New York "Journal of Commerce" says it is
committee to begin immediate consideration of
bill.
not
expected that this committee will grant hearings, as
now
it is
the avowed intention to make the bill a party measure
banks in the smaller towns
States.
to
.''
The powers
the character of the control which
is provided.
•
that are granted to this
but with some
directors of a
and cities throughout the United
Vanderlip thinks the fundamental objection
Mr.
the plan is
He says:
'
Federal Reserve Board aire in the main,
be granted to the
exceptions, such as would of necessity
central bank.
They are such powers as are essential to the
274
THE
complete mobilization of
functions of
reserves and to
CHRONICLE
the operation of the other necessary
The objection is not to the
powers granted but to the hands in which
they are placed.
Nor does that objection lie
the Newlands
solely against the fact that
the proposed Federal Reserve
Board is political in
obviously both financial
our
its character, although
ineffectiveness, the inadequacy of
responsibility of this
a
politically appointed board for
a
It
sort.
The objection, however, is even
deeper.
If the appointing power lay
with the banks themselves
and the detached character of the board was
maintained,
of
a
appointed, could not remain intelligently in touch with
perform the vastly important and extremely complicated
functions that hre entailed under this
plan, and which must be inherent
in any plan which will
successfully mobilize the banking
reserves of the
well expect legislators not
responsible to their
constituency to represent wisely the interests of their constituency.
We might
country.
It
to
as
that the only proper method of control must be
through
board composed of
experienced practical bankers in direct touch with
a
seems
business, who are selected for short terms by the member banks,
and who are
responsible to those banks in the same way that the executive
officers of a national bank are
responsible to the stockholders.
There
well be
all statutes
the
a
Government board whose sole function should be to
that
see
obeyed by the management.
The board that has to exercise
ip the management must be responsible to the stockholders;
discretion
are
board that
exercises supervision should
officials, but their sole function should be
be composed of Government
such
supervision
as
will
ensure
the most scrupulous observance of
the statutes, and those statutes should
be so specific that the board
charged with the management knows clearly
the lines within which it
may exercise discretion.
Discussing
Talbert
that the Treasury
appeal from the decision of
free entry privilege is granted to
Canada.
It is reported
that the Department will be
obliged as a result of the deci¬
sion to surrender
$3,000,000 in duties.
■v.-./.
,...
me
current
may
not to
treaties, because the
how
conditions and
the 20th ult.
on
wood pulp and paper to
The trouble lies in separating the management
financial institution from its
ownership.
A management so separated,
matter
no
name
the Court of Customs
Appeals granting the free entry of
European countries with, which the
United States has "favored nation"
board could not be created which would be
competent to
a
announced
was
Department has decided
the responsibilities,
assume
amendment to the Erdman Act, will
them.
and
political history, as well as the operation of
commissions, furnish ample illustration of the danger,
present-day
the
xctii.
Board.
The selection must be made in fifteen
days; other¬
wise the Board of Mediation and
Conciliation, created under
central bank.
a
[Vol.
the
says:
phase of the subject, Vice-President
same
.
Quinlan, one of the leaders of the Industrial
Workers of the World, who was
imprisoned on July 9 fol¬
lowing the imposition of a sentence of not less than two not
than
more
Considering the points here raised, the following questions
clearly
seem
defined.
Shall the control and domination of the
banking business of the
United States, including note
issues, bank credits and the cash reserves of
the banks, be surrendered
unconditionally into the hands of a board of
seven members appointed
by the
President, the authority of which board
are subject to no review or
appeal ?
Is there any
why such control of the banking business should be
placed in the
hands of any politically
appointed group of men ?
Is there wisdom or
safety in placing such power in the hands of a board of seven
is supreme and whose acts
seven
years, was released under
$5,000 cash bail
Quinlan had been convicted on May 14
the 24th ult.
on
of
having incited the Paterson strikers
speech made by him
a
Feb. 25.
on
to
On the
injure others in
day Quinlan
was-
freed two thousand of the strikers voted
to return to work
on
the manufacturers'
terms, this action practically ter¬
minating
Senator
"
.
Patrick
the
strike.
Quinlan
the Socialist ticket
on
nominated
was
the 22d ult.
on
On
for
State
July 31 he
was again
brought into court for having committed a new
offense, and sentenced to one year in the county jail for this
offense, but oh his own plea this was reduced the next
day
to ten days in jail.
reason
The
Treasury Department, in a recent decision bearing
the Corporation Tax Law, holds that interest
paid on mort¬
individuals
having
no
personal interest in
reason of a lack of
of the
or
Federal
the banks
or
in
personal interest in the banks
Reserve Board
indirectly, the stockholders
arid
their
on
on
conduct?
By
the part of the members
of their failure
of the
safe
to
represent,
banks, is it not reasonable
that their official acts
might be influenced by personal
Is it conceivable that the
directly
to suppose
or political consid¬
officers, directors or stockholders of
individual bank, whether national or
State, would voluntarily assent
to such a proposal on its behalf
alone; and, if not, why should such banks
assent to it collectively?
Why should the banks which are required to
erations?
any
gage,
indebtedness is deductible
ment
only when it is made
continued
possession and
ownership
of
embodied
in
Shall the national banks be
compelled, and
will the State banks
voluntarily propose, to become members of Federal
reserve banks,
contributing their capital and placing the whole or a greater
part of their cash reserves absolutely and
unconditionally under the con¬
trol of any political board?. Would
any bank alone do this; or in the case
of
shareholders, would they consent
to do
so
with their
own
Would any private corporation
private fortunes?
or individual do so, and, if
not, why should
the banks collectively be called
upon or compelled to do so ?
Vice-President Eldridge declares that
country banks do not
approve and will not support a political board
having control
the
over
banking business of the country. They express
unwillingness to submit their own affairs to such control,
and for the most
part, he believes, they will decline to accept
an
it.
'
*
.
-■
Banking and Cur¬
lengthy letter, copious extracts from which
the daily papers on Monday.
Mr. Owen
appeared
in
no
be
more
stigmatized by the epithet "political appointees" than the
Supreme Court of the United States, whose members are
also "political appointees.
It
is in either
case
a
Govern¬
ment
body of the highest dignity and character—not a
partisan machine." * That there is very little,
force, however,
in this argument was
plainly shown by President James B.
Forgan of the First National Bank of Chicago, whose remarks
on* this
last
subject
were
Saturday's issue of
.
on
213 iand 214 of
pages
In the
paper,
•
.
■
—
♦'
-
.'
1
reason
that the tax
conductors and trainmen
regarding the question of wages,
Conference Committee of Managers last
Saturday
its position
that
the arbitration
board
re¬
must
consider not merely the
question of a wage increase but also
numerous collateral
questions, to which latter the
strenuously objected.
ment
has
been
Accordingly the arbitration
definitely signed.
The two
represent the railroads will be W. W.
dent of the
agree¬
'
office, and is hereby rejected for the
collected.
D. 1742, paragraph 50, which holds that
mortgage indebtedness merely as a condition to
the possession or use of
mortgaged property, it may be deducted from gross
item 4 on the return as a
general expense.
This decision is an interpretation of that
income under
phrase in paragraph- 2, Section
38, Act of Aug. 5 1909, which provides for the deduction from
gross income
as expense of "all
charges, such as rentals or franchise payments required
to be made as
a
condition to the continued
The Treasury decision does not extend
or
use or possession of
property,"
modify this provision; it merely
interprets it in
a particular instance, and it cannot be extended
op used
justify the deduction from gross income as expense of interest paid on
a mere rental, or franchise
payment
to
mortgages, except where such interest is
as
as
a
necessary condition to the use or retention of property and not
essential to the ownership of purchased
property the title to which
an
has
been,
or
upon
satisfaction
purchaser. '
of liens
will
be,
vested absolutely
'
As said by the
in the
,
Attorney-General in opinion dated Feb. 211910—
It surely cannot
be assumed that Congress, having specifically set a
limitation to the amount of interest upon the indebtedness of the
corpora¬
tion which may be deductible from its gross income, in
reaching the
of the tax under this law, left the way open in the first
to eliminate the limitation
imposed by the third;
so
clause of
measure
Section 38
that if in any of the
suggested the iridebtedness secured by mortgage upon the properties
acquired by the respective corporations shall have been assumed by them,
cases
and has thereby become their
can
be deducted only to
indebtedness, interest
an amount not
mortgage or
suck indebtedness
on
the
paid-up
;/'•
_
Wherever, therefore,
on
exceeding the interest
capital stock of the respective corporations.
corporation purchases property encumbered by
other lien, and the amount of sUch mortgage or other lien is a
a1
part of and included in the purchase price, upon the payment of which the
title vests absolutely in the corporation, it is manifest
that, for the
assumes
in
no
degree of the nature of rental
In the
the indebtedness of its property thus
is upon indebtedness and partakes
cases
or
franchise charges, and its deduction
by the provisions of the law.
case
of the claimant it appears that the
corporation owns
an
in¬
terest in the
mortgaged properties, that this interest is liable to be
destroyed
by the foreclosure of the mortgage, and that claimant paid the interest
primarily for the protection of its own property.
Clearly such payments
are
not in the nature of rentals or franchise
•of law for
their deduction from
charges, and there is
income
gross
as
no
warrant
expense.
Respectfully,
W.
Collector Third
arbitrators to
District,
New
H.
OSBORN, Commissioner.
York.
:
■■■
Atterbury, Vice-Presi¬
Pennsylvania Railroad, and A. H. Smith, senior
Vice-President of the New York Central Railroad.
A
ruling construing the Ohio law permitting banks to lend
in an amount not exceeding their capital was sub¬
Lucius
money
Sheppard, senior Vice-President of the Order of
Railway
Conductors, and Daniel L. Cease of"
Cleveland, editor of
"The Railway
Trainman," will represent the employees.
mitted
E.
These four will, meet at the
Hotel Manhattan next
Tuesday
to select the other two
members needed to
complete the
is
T.
employees
so
decision
-
to have been legally
appears
This claim is based
upon
where interest is paid on
is limited
controversy between the Eastern railroads and their
from
The
Washington^ t>. C., July 14 1913.
company for the refunding of special excise
■
of this Act, the purchaser
the
ceded
incidental to the
purposes
our
.
•
as
following:
purchased." Iiiterest paid in such
■'
•
published
franchise pay¬
or
property.
tax for 1912 has been examined in this
rency, wrote a
argues that "the Federal Reserve Board" should
rental
necessary condition to the
and not
use
mortgaged
Sir.—The claim of the
made
In reply to these
criticisms, Senator Robert L. Owen, the
Chairman of the Senate Committee on
the
as
a
TREASURY DEPARTMENT.
Office of Commissioner of Internal Revenue*
contribute all the capital of the Federal reserve
banks and to assume all
the risks of the conduct of their
business be given no voice in the board of
control, and if not, why not?
the
as
to
State
Genjeral Hogan
on
Superintendent
the 14th ult.
Lattanner
issued capital and not the authorized
capital is the basis for
the amount which may be lent.
*-—
by Attorney-
The latter holds that the
■<-
Aug. 2
the defunct
William R. Montgomery, former President of
Bank of this city,
Hamilton
Prison
He
the 11th ult.
on
was
stated, he leaves the management of the trust
paroled from Sing Sing
account of other
Feb. 21 1911 to
Dominion Trust
sentenced
and two months
not less than two years
on
than five
nor more
business interests.
was
known
as
the Guardian Trust Co.,
director of the Marine
its
year.
of the Larkin Co.,
John D. Larkin, President
grand larceny.
company on
Prior to June 1912 the
having been changed on June 17 of that
name
and two months after his conviction on the charge
Several other indictments which were
years
of
was
375
CHRONICLE
THE
1913.]
elected
was
National Bank of Buffalo, N. Y.,
pending against him were' dismissed by Judge Foster, on
a
July 1 upon the application of Assistant District Attorney
on
Wasservogel, who stated that there was hardly a chance that
inson, who resigned in June, has since been elected a director
trial of these indictments would result
the
ip convictions.
succeed E. H. Hutchinson.
Mr. Hutch¬
People's Bank of Buffalo.
of the
Wasservogel also thought that the interests of justice
Mr.
would not
require
any
was
reorganized in January 1908, and in June of that
was
merged with the Riverside and Northern banks, under
the
name
the
of
institution
That
latter.
December 1910.
Sydney H. Herman, a director of
.:
the Union Exchange
Mr. Herman; who has been the
;
—.—«
,
the
$50,000,
stock being issued at par.
new
.
Savings Bank of Chicago, which
The Kenwood Trust &
experienced a run on the 22d ult., is in a perfectly solvent
condition, according to State Bank Examiner C. G. Rut-
elected President of the in¬
Henry S. Herman, who died
•
"
was
Morgan Park, 111., is to be increased from $25,000 to
in
since its organization in 1903, succeeds his
bank's attorney
late father,
city,
the 30th ult.
on
suspended
"
National Bank of this
stitution
year
capital of the Calumet Trust &1 "Savings Bank of
The
further attempt to punish the defend¬
The Hamilton Bank suspended in October 1907, but
ant.
;
the 28th ult., to
on
June 16 last.
Clearing House.
The
founded
More than half of the bank's depositors
rumor.
run,
withdrew their accounts, it is stated, but the institution
had
plenty of cash on hand and no embarrassment was felt.
Several institutions offered financial assistance to the bank,
■
.
Examiner of the Chicago
it is said, was caused by an un¬
ledge and also according to the
Wade Gard'ner, New York agent for the Hong Kong &
but all offers
declined. '
were
.
Shanghai Banking Corporation, 36 Wall Street, has received :;''V
AyA\:A'
'V- ' .A A ■' --AA
•
A
A'AA'A
\'S
.a cable from the head office of the corporation at Hong Kong
The First National Bank of Davenport, la., is one of the
follows:-
as
•
,
^
Subject to audit, the bank dividend for the half-year ended June 30 last
will
probably
Added to silver reserve fund
shillings per share.
be 40
'
(Hong
$250,000
off bank
written
currency);
Kong
premises
account,
carried forward to next half-year, $2.-■
$250,000 (Hong Kong currency);
050,000 (Hong Kong currency).
Including the above, the capital and reserve
as
reserve,
silver reserve,' $17,450,000;
$15,000,000;
total, $49,500,000.
$2,050,000;
half-year,
funds of the bank
now
stand
Paid-up capital, $15,000,000; sterling
follows, in Hong Kong currency:
carried forward to next
In addition there is
a reserve
liability of proprietors of $15,000,000.
.
•—-—
G. B. Gerrard, agent
Bank of British North
of the San Francisco branch of the
America, has been appointed
Mr. Gerrard, it is stated, has been
of the Montreal branch.
the institution for
connected with
manager
thirty-one
in the
years
He went to the San Francisco office in
several branches.
comparatively few banks able to lay claim to a fifty-year
record as a national bank.
Two others which have just
-'.v.;"
V*;i
a'AAy.-
♦——
.
a.'.-.
The creditors of the defunct First National Bank of Nor¬
wich, Conn.,
cording to
to receive a dividend of 50% shortly, ac¬
are
The
announcement made on the 24th ult.
an
institution failed
on
April 16 last,
reference to which was
delphia and the First National Bank of Chicago.
memoration of the
P. E.
'
of the defunct
Washington National Bank of Washington,
The de¬
positors, it is stated, have received dividends amounting to
60% since the institution failed in November 1911.
N. J., to
progress
States," and the bank's right to this designation, Notwith¬
standing the fact that its charter number is 15, is explained
in the
following paragraph:
It is
a
matter
of
A
comment that the first national bank to begin
some
be located in the Middle West;
operations under the Act of 1$63 should
National
but this is attributable to the energy of the founders of the First
of Davenport.
an
even
The first group of banks chartered under the law
start in this regard, as
their charters
were,
signed
day—June 22 1863—and sent forth simultaneously from the
Fourteen charters were signed by the
office.
before he affixed his signature to the one
on
the same
Comptroller's
Comptroller of the Currency
of the First National Bank of Daven¬
But a charter is not a bank—it is simply the grant of privilege to.
port.
A bank is an institution for receiving and lending money,
bank.
open a
and it becomes such when it opens
business.-'
its doors and begins the transaction of
The First National Bank
of Davenport became the first
1863. when its doors were
banking
opened to the public and it. began to perform all the functions of a
Wagner of Pittsburgh has been appointed receiver
succeed Philip Tillinghast, who resigned.
deal¬
during that period .
The book bears the
title "History of the First National Bank in the United
ing with its
national bank in the United States on June 29
';i'
In com¬
completion of its half-century, the First
National Bank of Davenport has issued a little volume
such
made in the "Chronicle" of April 19.
T"''-
in these columns, are the First National Bank of Phila¬
ago
had
-
weeks
reached the semi-centennial, as was indicated a few
Bank
The bank's head office is in London, Eng.
1910.
-
...
.
institution—the
receipt of deposits, the selling of exchange and the making
enjoyed the distinction of being the one national
For two days it
of loans.
On July 1st several others
bank in all the domain of the United States.
came
a
into being, and thereafter the number increased
rapidly.
of "early banking under
interesting account
An
laws" is furnished in the first chapter of the book.
State
"Early
Banking in Davenport" and the National Bank Act are also
George Musiea, of the United States Hair Co., who was
arraigned with his two brothers
of
on
April 11 last on charges
having defrauded New York and European banks through
irregular dealings
to
grand larceny
Court
of
on
General
$20,000*bail.
an
as
importers of hair goods, pleaded guilty
the 11th ult'. before
Sessions.
Judge Swann in the
George Musiea
Philip Musiea pleaded guilty
on
indictment charging him with the larceny
out on
was
May 27 to
of $16,000.
the subject of
by Austin Corbin andJGeorgeS. C. Dow, who in March 1863
(after Mr, Corbin had retired from the firm of Macklot &
Samuel B.
Hann,
a
national bank examiner in the* Balti¬
district for many years, has
ment
service and accepted
Fidelty
Trust
Company
an
of
resigned from the Govern¬
executive position with the
Baltimore,
Md.
will be connected with the banking department
tution and begin his services
on
Mr.
Hann
of the insti¬
Corbin & Dow.
First National, which was formed
with 30% of
new
on
statement
a
and total
tion
the Midland Savings &
as
Trust Co. is
being organized in Midland, Pa., with
of $125,000.
Those interested in the movement
a
are
capital
C. C.
a
capital of $100,000,
to
Under the
the Comptroller, of the Currency,
paid-in capital of $40,000 was shown,
a
profit and loss account of $2,578, deposits of $191,743
as
a
The
of $243,596.
resources
commercial bank brought
success
with it
of the institu¬
a
demand for
savings deposits, and the officers were
facilities for handling
Jan. 25 1864
institution to be known
made
Sept. 30 1863,
with
with
the subscriptions paid in at once.
prompt in making provision to meet
the 15th inst.
•
A
had established the private banking business of
Mr. Corbin was the first President of the
Corbin)
first
more
review before the history of the bank is under¬
of the institution was developed
The organization
taken.
public notice
the Davenport Savings
was
this public need.
Institution, with
a
capital of $100,-
000, the date of commencement being fixed for Feb. 1.
list
stockholders
of
was
On
given of the organization of
The
practically identical with that of
Business
begun
the date fixed,
Ramsey, Herbert Du Puy, James Park, J. W. Dougherty,
the First National.
W. C. Rice, all connected with the Crucible Steel Co.,
and at the first election David S. True was chosen President
T.
Hart
Given, who is President of the Farmers' Deposit
National Bank and the Farmers' Deposit Savings Bank,
of
Pittsburgh.
of the
and
new
both
Mr. Dougherty is slated for the presidency
institution.
*
of
the
pleted it
as
E. Heynolds
as
Pittsburgh, Pa.,
resignation of George
President of the Dominion Trust Co. of
Mr. Reynolds is
an
attorney/and, it is
Within three weeks the savings de¬
was
found
necessary
to increase the capital to $250.-
under the charter the deposits could not. exceed two-
thirds of
Announcement has been made of the
on
posits amounted to $10,000, and before the year wasjeom000,
.
corporation.
was
its
capital.
Later its
name
wag
changed to the
Davenport Savings Bank, and for forty-four years the two
banks
were
conducted in the
same
building.
Because of the
cramped condition of the quarters, the savings bank
wag
276
CHRONICLE
THE
obliged to vacate the premises in 1908.
contains
the
information
that
"when
statement of the First National Bank
The record also
third
the
called,
was
quarterly
on
April 1,
it recorded total deposits of $577,527, which was a larger
sum than was ever before on
deposit in any single bank in
the State of Iowa."
IMPORTS AND EXPORTS FOR JUNE.
has issued the
country's foreign trade for June, and from
it and previous statements we have prepared the following
interesting summaries:
statement of the
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000)
he resigned prelimi¬
■
to his removal to New York
tion there.
A brother of
and
his permanent loca¬
of the other banks which
one
is celebrating its fiftieth anniversary—the First
Chicago—was for
Davenport.
Lloyd G. Gage served the latter,
Cashier during 1876-78.
to
the
A large part of the book is given
biographies of
the bank but
persons
formerly associated with it, and
nected with the bank.
of the
formerly connected with
persons
deceased,
now
as
persons
Albert F.
institution, entered
still living who
were
actively
now
con¬
In 1895, at the age of 23, Mr. Dawson went
to
as
of
Secretary to Hon. Geo. M. Curtis, Member
Congress, and continued in that capacity until the end
confidential
of Mr. Curtis's term in 1899, when he became
secretary to Senator William B. Allison.
post for six
He
February
March
years,
and in 1904
expired,
elected
was
undivided
a
profits
$2,408,459 and
$40,290,
resources
has the assistance in
Lane
in 1910 he de¬
The bank has
deposits
grown
(April 4
to ah
of $3,045,599.
of
1913)
President Dawson
the direction of its affairs of Joe
Vice-President, Lewis J. Yaggy
as
J. Housman and C. F. Schmidt
175,957
161,933
157,988
153,152
141,707
127,697
144,185
195,799
210,368
201,753
224,907
149,914
November..
......
......
179,300
175,380
138,234
148,885
167,845
199,678
.....
254,634
278,244
250,316
as"
R.
Cashier and Will
Exports
1913.
January
February
April
.......
May
June
.___.1
November
Venable, who had been
.-.
Tota
......
■■
i'
■
Venable
came to
to become the
the
National
New York from the South in
Mr.
January 1909
representative of the Southern department of
Copper
Bank.
When, that
institution
was
merged in January 1910 with the Mechanics' National Bank,
under the present name of the Mechanics' & Metals', Mr.
Venable continued to hold that office.
years a
He
was
for several
member of the executive committee of the Virginia
Bankers' Association
body.-
and
was
also Vice-President of that
C., has recently been elected
Vice-President and Treasurer of the Old Dominion Trust
Go. of Richmond, Va.
,
April
May
June
.......
Kester, formerly
President and Cashier respectively , of the Lewiston National
,
Bank of
Lewiston, Idaho, who, following their conviction
In April 1911 on an indictment which charged them with
making false reports to the Comptroller of the Currency,
were each sentenced to five
years' imprisonment, were un¬
conditionally pardoned on the 14th" nit. by President ^Vilson.
Vice-President Marshall and
three
Senators
endorsed
application for pardon, all believing that the convicted
innocent.
were
Neither of the
his sentence.
bankers
•
has
San
the
men
.......
September...
of the
Cal.,
Currency.
of $200,000.
has
been
The
new
'
are as
$6,210
5,357
4,381
$9,541
5,806
4,336
3,893
4,525
3,388
.
..
......
4,474
11,397
■
4,707
§06.549
......
$57,445
,
-Imports—-i-—<
1912.
1911.
$4,358
•
$,5513
3,781
3,898
■
1913.
7,610
5,054
'
$4,201
2,481
,
3,184
3,712
4,189
4,345
2,808
3,093
2,366
"
.
5,778
5,275
4,870
4,940
5,0875,052
5,997
$71,962
2,595
4,105
4,704
4,102
3,458
5,577
4,201
11,887
......
5,897.
•
5,015
4,768
5,611
3,748
......
$5,651
4,453
6,172
5,834
7,608
4,119
3,347
......
1911.
'
1911.
$5,141
2,937
4,014
4,561
■■■'..
6,591
6,077
6,011
'
4,880
3,436
......
.
...
...
.
3,197
4,252
3,556
3,506
3,921
-
3.952
3,653
3,649
4,162
4,684
3,998
3,404
3,339
3,307
$65,664
......
$48,401
$43,746
•'
3,417
■
.
EXCESS OF EXPORTS OR IMPORTS.
'
•-Merchandise
1913.
January
February
1912.
+ $63,970
+ 44,083
March......+ 31,982
April
+ 53,619
May
+ 60,883
+$58,860
+64,656
+47,835
+16,729
...
+54,262
+22,891
+38,161
+23,338
+18,900
+9,643
+18,240
+70,627
+ 77,760
+75,591
+84,232
—
November..
......
December...
......
Total
\
•
"Gold
+125,149
+96,221
+7,016
+13,696
+7,652
+3,118
—1,004
—2,076
+7,906
+1,104
+2,819
+1,560
+ Exports.
—
Imports.
«
1912.
+$1,670
+2,834
3,164
+1,341
+2,094
+752
+2,236
+2,365
+2,381
+166
+2,353
4
—11,557
—1,764
—10,740
.+$581,145+$560,168
Silver-
1913.
+$2,235
+3,517
—3,079
—3,633
———
....—
■.'
•
1911.
1913.V
1912
+$66,522+511,028 —$3,226
+19,682 "
June.......+32,424
+7,203
July
+218"
August.....
+13,088
September—
—+54,858
October
+76,646
'
+3,155
+2,125
+2,362
+ 1,488
+2,407
+3,610
►
—$19,124
—$23,661
'
'
Merchandise.
Months
follows: J. R. Burrow,
Silver.
Excess
Ex¬
Im¬
of
ports.
ports.
Exports
$
$
$
(0005
omitted)
Vy
Excess
<
Ex*
Im¬
ports.
ports.
.
1910-11 2,019,320 1,527,226
1909-101,744,985 1,556,947
1908-091,663,011 1,311,920
1907-08|1,S60,773 1,194,342
a Excess
of
Excess
of
Ex¬
Im¬
Exports
ports.
parts.
,
77,763 69,195
8,568
57,328 48,936!
8,392
522,094 22,510 73,607a51,097
188,037118,563 43,340 75,223
351,0911 91,532 44,004 47,528,
666,431, 72,433 148,337 a75,904;
of
Export
'«
1912-13 2,465,762 1,812,621 653,141
1911-12 2,204,322 1,653,264 551,057
$
71,614
64,890
64,750
41,269
47,050
45,937
55,287; 45,217
30,345
17,840
18,813
10,070
11,728
55,683, 43,955
57,921; 44,658
13,263
imports.
Similar totals for five months since
Merchandise.
January 1 follow:
Gold.
Silver.
Five
Excess
Months
(000s
Ex¬
omitted
ports.
Ifn-
ports
$
%
1911...
of
Gold.
Eleven
1913... 1,166,160
approved by the Comptroller
institution is to have a capital
The organizers
§37,183
October.
served any of
application to organize the Union National Bank
Diego,
$47,425
August
1912... 1,099,616
The
994
July...
.
William F. Kettenbach and George II.
'
1912.
Totals for merchandise, gold and silver for twelve months:
Henry E. Litchford, lately Cashier of the Citizens' 'Na¬
tional Bank of Raleigh, N.
3,984
13,941
657
$6,028
5,122
5,806
4,941
6,726
5,046
5,315
5,537
5,972
5,329
4,731
March
'
..
2,710
1912.
$6,436
...
Atlanta, Ga.
$1,818,073 $1,532,359
-Imports
481
Exports'
1
1913.
January
February
department of the Mechanics' & Metals' National Bank of
of the Travelers' Bank & Trust Co. of
......
......
SILVER.
■
December...
New York, was elected on the 11th ult. active Vice-President
......
3,075
2,353
......
of the Southern
manager
......
2,173
330
December
154,757
144,820
177,988
153,095
154,095
—
1,506
'
129,814
122,807
118,054
125,945
125,172
132,606
126,162
140,674
131,031
148,667
......
6,817'
568
October.
Total.....
W. P.
505
7,265
2,498;.:
139,042
119,827
1913.
7,454
1,817
4.451
7,171
......
157,577
162,571
155,698
130,859
1911.
$924
425
569
.......
121,695
•
$1,915
10,589
August
$130,561
134,188
,
—-
1912.
$17,238
12,373
18,077
3,010
12,467
...
March.:
November
Assistant Cashiers.
as
133,724
1911.
$143,586
155,445
$2,399,218 $2,092 527
......
■
146,194
GOLD.
September...
capital of $200,000, .surplus of $200,000,
of
,198,844
205,412
December...
tion of Private Secretary to President Taft, but this he also
declined, and in the following. April he shouldered the man¬
institution with
193,997
187,427
199,813
194,607
163,283
......
Congressman.
as a
urged to accept the posi¬
was
agement of the First National.
$163,063
August.
Total
1913.
$197,083
September
October.....
July—......
Shortly before his term in Congress
March 4 1911, he
on
—...
omitted.)
cases
;—Imports
1912.
1
1811.
$202,446
July
He served in that
re-elected in 1906 and in 1908, but
was
clined renomination.
i.
April
May
In all
$227,033
on
April 6 1911.
Washington
____
Dawson, the present head
the duties of President
upon
Ezports
1912.
1913.
January
June
Bank of
over
National of
time connected with the First National
a
:—;
Lyman J. Gage, who himself was
for many years identified with
are
MERCHANDISE.
.
nary
xgvn,
The Bureau of Statistics at Washington
Mr. Corbin remained at the head of
the institution until June 19 1865, when
[Vol.
1910...
1909...
1908...
1907...
a
987,821
804;759
787,973
877,797
940,450
.
Excess
of
Ex
Exports
port
:
•
879,200 286,960
884,652 214,964
763,746 224,075
799,424
5,335!
717,997 69,976!
522,451 55,346;
751,279 189,171'
?
Im¬
.
ports.;
Excess
of
Ex¬
Im¬
of
Exports
ports':
ports.
Exports
$
63,735 2^911 35,824
33,397 '25,264
8,133
13,252 33,773 420.,521
49,516 19,388 30,128
63,834 20,136 43,698
53,519 26,368 27,151
36,300 21,469 14,831
$
33,322
33,669
29.360
18,133
25,264
21,962
21,901
22,872
25,514
29,219
21,054
22,396
34,443
27,054
15,189
8,405
12,481
5,153
6,488
4,460
6,823
Excess of Imports.
C. W. Landis, E. E. Ames and J. D. Mollison.
John F. Andrews, Cashier of the German-American Trust
&
Savings Bank of Los Angeles, Cal., has been elected
Vice-President.
tofore W. E.
drews
of Los
can
was
This office is
McVay
was
a
newly-created
one.
the only Vice-President.
Assistant Cashier of the Union Bank of
Angeles until it
in 1906.
was
He continued
a
Here¬
Mr. An¬
Savings
merged with the German-Ameri¬
as
Assistant Cashier
consolidation until October 1908, when he
R. P. Hillman, the Secretary of the
was
following the
made Cashier.
institution, succeeds Mr.
Andrews
as
Cashier and will also, retain the
George A. Mattern
was
secretaryship.
recently elected Assistant Cashier.
[From
our own
correspondent.}
London, Saturday, July 19 1913.
Bulgaria is lying helpless at the feet of her antagonists,
and nobody knows whether they will prove magnanimous
or
drive an exceedingly hard bargain.
.There is no doubt
that the responsibility for the fresh war lies with her. ." But
she is down, and what is desirable is that she should be
helped
up again as sppedily as may be.
Apparently, the Concert
of Europe is almost as helpless as Bulgaria.
It cannot stop
the fighting, or at all events it will not/ and itdooks as if
AUG. 2
277
CHRONICLE
THE
1913.]
London,
would be imposed by Rumania, Servia and Greece.
While all this goes on, it is a matter of course that enter¬
prise is checked, that everything in the nature of speculative
business is avoided, and that prudent people are declining
Sat.
17%
95%
24
Preferred.80%
Union Pacific—
153
Preferred-..
86%
U. S. Steel Corporation
59%
Preferred
109%
Wabash..:
• 2%
Preferred..
7
Extended 4s—
51%
Island.—...-.—---Southern Pacific..
Southern Railway
Rock
enterprise.
Early in the week the City took it into its head that very
large amounts of gold were coming from South America
and that money, therefore, would become cheaper.
It put
down rates in consequence and new issues began once more.
new
to be no doubt that a considerable amount of
gold is coming from Brazil. Her principal exports are coffee
and rubber, and the prices of both have fallen very heavily.
On the other hand, she has a large debt to pay interest upon,
which is held chiefly in England and France, and, therefore,
it becomes necessary for her to send gold.
Gold is expected
likewise from Argentina and Uruguay.
But, then, Argen¬
tina and Uruguay will.probably be asking for gold in a few
months'time.
'
.
One consequence of the fall in rates that took place early
in the week was that the Continental exchanges generally
turned against this country.
As the week is drawing to a
close, however, the City has come to see that it was prema¬
ture in lowering rates; and, consequently, rates have stif¬
fened.
More new issues have come out during the week
than for some time past, and trade continues wonderfully
There appears
.
good.
But upon the Stock Exchange there is reported to
be practically nothing doing, which really means that all
speculative business has come to a standstill more or less.
But there is a fair amount of investment going on.
The dis¬
tribution of dividends and interest in July is very large,
and the recipients naturally are investing
proportion of
what they receive.
But investment business, though the
most satisfactory of all, has not an early influence upon
prices, and, therefore, the Stock Exchange is in the dumps.
Matters are pretty much the same, in all the great Conti¬
nental centres.
In Paris and Berlin, \and in Vienna more
particularly, the reports are that the public is holding aloof
and the Bourses are almost inactive.
Money, at the same
time, is fairly easy, but the State banks keep up their rates
of discount at a level not often seen in mid-summer, and there
is little likelihood that they will put them down this year.
In Germany there is always ease in July.
Having got over
the liquidation at the end of June, there is a feeling of relief
that no difficult liquidation will come, on again, for three
months.
In August, probably, rates will begin to stiffen,
for the liquidation at the end of September will be a very
difficult one, and preparations will commence for it.
The
well-informed expect that in September there will be a
strong demand for gold to strengthen the reserve of. the
Reichsbank.
In France, matters are quiet, though it is
reported that gold is coming to Paris both from Brazil and
from Argentina.
In Vienna and Buda-Pesth rates are very
stiff and depression is extreme., The rate of discount in the
open market in Vienna" is very nearly 5 % %.
In the inter¬
ior rates are much higher than in the great cities.
Business
is almost at a standstill.
There is an immense accumulation
of manufactured articles which were originally intended for
the Balkan countries, but cannot now be sold, and the manu¬
facturers and merchants cannot get in the debts due to them
,from the Balkan countries.
Altogether, therefore, there is
much depression:
Yet there has so. far been no really great
failure, and the hopes are growing strong that even the
autumn, much as it is feared, may not be as trying as a
little while ago was anticipated.
' Y>-: ■
The India Council offered for tender on Wednesday 20
lacs of its bills and telegraphic transfers, and the applications
amounted to 135 lacs at prices ranging from Is. 3 29-32d.
to Is. 3 31-32d. per rupee.
Applicants for bills at Is.
3 15-16d. and for telegraphic transfers at Is. 3 31-32d. per
rupee were allotted 47%.
<
_
.
English Financial Markets—Per Cable.
closing quotations for securities, &c., at London,
reported by. cable, have been as follows the past week:
The daily
as
London,
Week ending Aug. 1.
•
'■>
Mon.
27%
7273
Sat,
Tues.
27%
73
Wed.
Thurs.
.
Fri.
27%
27 5-16
d Consols, 2% per cents.
73 1-16 73%
d For account
72 15-16 73
73"
73
73 5-16 73%
d French Rentes (in Paris) fr. 84.70
85.07% 85.10
85.32% 85.32% 86.17%
Amalgamated Copper Co... 72%
-74%
c73% " 72%
72%.
V72
Am. Smelting & Refining Co. 65
65%
65%
65%
64%
65
b Anaconda.Mining Co..;..
7%
'
7%
7%
7%
.7%
7%\
Atch. Topeka A Santa Fe___101%
102
102
cl00%
100%
99% '
Preferred....
100%
100%
100%
100%
100%
101
Baltimore & Ohio.
100%
101
101%
c98%
98
99
Preferred......
83
83
S3
81
81
81
Canadian Pacific
222
224
222%
223
222%
221
Chesapeake A Ohio
55%
57
57%
58
57%
56%]
Chicago Great Western
14
14
14%
14%
14%
14
i
Chicago Milw. A St. Paul... 108%
109
109
109%
108%
108 1
Denver A Rio Grande
20
'
20%
21
21
21%
20%
Silver,
per oz
...
_d. 27%
—_
27%
73
,
—
Preferred
29
Erie
27%
preferred
——42%
Second
preferred...
34%
First
Great Northern,
117
Louisville A Nashville
140
Missouri Kansas A Texas...
Preferred
59
33%
Nat. RR. of Mex., 1st pref..
32
58%
34
36
Second
11%
101%
30%
.108%
preferred
11%
N. Y. Central A Hud. RIver.101%
N. Y. Ontario A Western...
Preferred..
Northern
a
a
Pacific.
3j)%
108%
Norfolk A Western....'
87
87
.112
,113
_
Pennsylvania.
J.. 58%
Reading Company
83%
a Fifst preferred....".,
44
...
a
Second preferred...
28%
44%
129
117%
139%
23%
22%
Missouri Pacific
31
27%
43%
35
preferred.. 128%
Illinois Central.
29
46
.
58%
83%
44
46
31
29%
47
37
129%
cll2%
35%
130
118
140
137
23%
59%
34
23%
59%
37
38
34
12%
102
30%
108
12%
101%
30%
108%
87
87
58%
S3%
44
46
.
44
46
flat prices.
989190214
85
44
46
•
112%
58%
81%
45 J
46]
3
7%
7%
52%
7%
52%
7%
52
,
53%
.
d Quotations here given are
Ex-dividend,
OF
TRADE
9180968
OF
UNITED
THE
BREADSTUFFS EXPORTS.
Wheat
ended
June 30.
894
43,805,663
39,709,868
59,920,178
145,684,659
104,269,169
73,237,080
96,771,743
112,875,222
87,795,104
35,850,318
3,905,579
28,757,517
60,214,388
99,736,767
68,094,447
47,806,598
—
897
—
898.—
903
908....
Wheat
Flour.
and Flour.
1903
— .
a...
28,477,584 50,999,797
89,100,000 53,200,000
Wheat.
—
893
894
—
—
895
896—.
897-
902
903
905
—
.
—
—
0.500
0.799
0.983
16,620,339
16,859,533
15,268,892
14,620,864
14,569,545
15,349,943
0.748
18,485,690
0.718
18,699,194
18,650,979
17,759,203
19,716,484
16,999,432
8,836,335
13,919,048
15,584,667
13,927,247
10,521,161
9,040,987
10,129,435
88,415,230
0.672
76,102,704
60,650,080
79,562,020
148.231,261
139,432,815
101,950,389
132,060,667
154,856,102
114,181,420
44,230,169
0.576
4,394,402
0.888
34,973,291
0.822
0.655
0.753
0.733
0.729
0.769
0.811
912....
0.944
912 a...
91,670,000
0.972
1.017
0.929
11,006,487
11,400;000
106,181,316 30,768,213
225,665,810 75,451,849
46,037,274
4.542 191.912,634
65.324,841
4.109 164,283,119
27,691,137
3.383 144,714,146
3.558 126,443,968
99,992,835
3.849 145,088,972 176,916,365
4.512 217,306,004 208,744,939
3.954 222,618,420 174,089,094
3.624 186,090,564 209,348,284
3.724 215,990,073 177,817,965
3.697 234,772,515
26,636,552
3.748 202,906,273
74,833,237
4.053 120,727,613
55,858,965
4.547
44,162,409 88.807,223
4.246
97,609,007 117,718,657
3.990 146,640,424
83,300,708
4.608 163,043,668
52,445,800
4.862 114,268,468
35,853,4.12
5.267
87,362,068 36,802,374
0.534
0.462
0.529
0.378
0.306
0.355
0.397
0.407
0.464
0.608
0.542
0.538
0.534
0.527
0.531
0.647
0.703
0.691
4.875
69,311,759
63,761,458
0.564
4.633
79,689,403
142,970,000
40,038,795
49,200,000
0.723
4.655
Figures for 1913 are not final, and are subject
.
$
0.570
1.024
a
Bushels.
4.822
46,679,876
23,729,302
30,160,212
....
Bushels.
per
bush.
4.959
0.994
911
%
Corn.
15,196,769
0.787
—
Wheat
and Flour.
11,344,304
76.509,423
910
Barrels.
$
Avge.
Total
.
per
bbl.
1.026
100,371.057
66,923,244
907
slight corrections
0.933
55,131,948
157,280,351
117,121,109
—
275,594,618
213,134,344
221,242,285
149,050,378
107,732,910
186,468,901
184,120,702
215,260,588
160,161,624
'
.
Avge.
Flour.
per
Bushels„
248,759,022
194,722,869
202,092,145
134.816.488
91,528,636
149,926,242
166,651,611
197,849,472
144,446,279
120,856,058
82,527,983
16,185,673
40,540,637
30,071,334
47,446,921
62,061,856
44,261,816
33,942,197
25,194,466
25,427,993
;
bush.
30.
68,977,448 246.340.487 273,999,699
85,506,400 226,203,366 262,744,078
and are subject in all cases to
Avge.
Year
ended
14,650,767 110,108,358 114,604,780
EXPORTS BY QUANTITIES.
BREADSTUFFS
June
128,121,656
299,363,117
200,312,654
166.777,229
44(081,715
87,864,386
122,389,795
163,907,275
119,251,813
133,592,611
95,428,065
71,427,219 35,961,479 107,388,698 124,913,537
79,477,381 28,957,450 108,434,831 123,979,715
142,300,000 28,800,000 171,100,000 210,860,000
when
892
slutfs.
37,836,862 129,571,947 141,356,993
54,087,152 169,921.677 197,857,219
74,196,850 289,145,227 333,897,119
166,231,039
178,537,196
161,551,508
104,745,154
64,170,508
Figures for 1913 are not final,
later returns are received.
a
aU.
Bread-'
and Flour.
95,457,591
91,735,085
115,834,525
214,948,377
177,363,039
140,997,966
51,651,928
52,025,217
55,914,347
69,263,718
73,093,870
67,760,886
69,459,296
65,661,974
73,756,404
68,894,836
40,176,136
59,106,869
62,175,397
51,157,306
47.621,467
22.040.273 49,386,946
909
910.
913
Total
Corn
Corn.
Wheat.
51.420.272 54,705,616 106,125,888 17,652,687 123,778,575
161;399,132 75,362,283 236,761,415 41,590,460 278,351,875
93,534,970 75,494,347 169,029,317 24,587,511 193,616,828
59,407,041 69,271,770 128,678,811 30,211,154 158,889,965
893
896
■
Total Wheal
Total
Fiscal Year
0.585
In all cases to slight corrections
when later returns are received.
VALUE OF IMPORTS ANDEXPORTS OF
MERCHANDISE, 1891 TO 1913.
Merchandise.
Excess
"
June 30.
Exports.
Imports.
Imports.
Exp.
1,720,089,669
1,847,389,880
1,701,683,901
1,539,682,726
1,539,508,130
4,460,959,966 3,887,394,340 Exp.
777,478,868 Exp.
892,191,993
573,565,626
114,713,125
8,348,354,306
1,669,670,861
Exp.
102,882,264
Exp.
286,263,144
615,432,676
529,874,813
544,541,898
1,662,331,612
1,815,723,968
1,847,531,984
1,924,171,791
2,244,424,266
5,786,589,208 3,707,594,413 Exp. 2,078,994,795
415,798,959
741,518,883 Exp,
1,157,317,842
9,494,183,621
1,898,836,724
664,592,826
2,310,937,156
2,285,040,349
2,445,860,916
2,451,914,642
2,636,074,737
835,747,785 Exp.
Imp.
1894
847,278,725
891,907,709
1895
807,538,165
1893
Total 5 years...
Average
882,606,938
1,050,993,556
1,231,482,330
1899 —I— 1,227,023,302
1900
1,394,4S3,082
1896
1898
—
-
Total 5 years...
Average
817,496,397
854,405,176
647.775,017
731,969,965
779,724,674
764,730,412
616,049,654
697,148,489
849,941,184
Exp.
Exp.
Exp.
Exp.
Exp.
823,172,165 Exp.
1,487,764,991
903,320,948 Exp.
1,381,719,401
1,420,141,679 1,025,719,237 Exp.
991,087,371 Exp.
1,460,827,271
1,518,561,666 1,117.513,071 Exp.
1901
1902
1903
Total 5 years-
Average
Exports.
'
48,594,099
212,397,086
7,126,451
244,132,692
75,568,200
884,341,884
1,029,893,483
1892
1897
Total Imports
and
of Exports
or
Year ending
1909
"
7
61%
111%
•.
VALUE
33%
39
86
3
80
152%
86%
record.
1905
478,398.453
394,422,442
469.739,900
401,048,595
7,269,015,008 4,860,812,792 Exp. 2,408,202,216 12,129,827,800
481,640,444 2,425,965,560
972,162,558 Exp.
1,453,803,002
517,302,054
446,429,653
666,431,554
351,000,880
188,037.290
2,970,426,946
3,315,272,503
3,055,115,138
Total 5 years.— 8,893,484,748 6,724,193,317 Exp. 2,169.291,431
15,617.678.065
1,778.696,950 1,344,838,663 Exp.
433.858,287
3.123,535.613
1911
2.049.320,199 !1,527,226,105 Exp.
522.094.094
1912
2,204,322,409 1,653,264,934
551,057,475
653,140,750
3,576,546,304
3,857,587,343
4,278,383,07
1,743,864,500 1,226,562,446 Exp.
1,880,851,078 1,434,421,425 Exp.
1,860,773,346 1,194,341,792 Exp.
1906
1907
—
1908
Average
,
3
86%
61%
51%
c
3
80%
158%
86%
60%
111
17%
94%
24%
111%
80%
3
Fri.
17%
STATES,
and
the
article on page 148 of the "Chronicle" of July 19 1913.
They will be found useful for reference and as a matter of
1904
>
86%
61%
110%
24%
153%
80%
Thurs.
95%
24%
80%
153%
86%
61%
111%
We append a series of tables supplemental to,
which furnished the basis of the remarks contained in
29%
47%
37%
129%
109
137 !
23%"
59
14
101%
30%
108
18
96%
v
FOREIGN
1912-13.
32%
13%
101%
30%
108
;
18%
95%
24%
155
6 £ sterling,
Price per share.
30%
47%
37
129
109
137
23%
59
33%
113% '112%
5S%
58%
82%
82,
113%
889909125124756
1
a
Wed.
Tues.
18
96
24%
——
32%
38
Mon.
1.
Week ending Aug.
peace
1,663.011,104 1,311,920,224 Exp.
1,744,984,720 1.556.947,430 Exp.
-
2,974,931,328
3,301.932,150
e»l|
Erp,
2,465,761,910 1,812,621,160 Exp.
Note.—The foregoing figures are exclusive of
Imported, which we Include In gold and silver
gold and sliver In ore exported and
...
.
.*
"
278
CHRONICLE
THE
GOLD
AND
SILVER
MOVEMENT.
Name
Gold.
Silver.
Railroads
Year
ending
June 30.
Excess of
Exports.
Imports.
Exports (+)
Imports (—)
Exports.
of
Exports.
Imports.
...
1892
...
1893
...
1894
...
1895
...
1896
...
1897
...
1898
...
1899
...
1900
...
1901
...
1902
...
1903
...
1904
...
1905
...
1906
...
1907
...
1908
...
1909
...
1910
...
1911
...
1912
...
1913
a..
a
86,362,863
50,208,331
108,697,451
76,995,130
66,468,481
112,409,947
40,361,680
15,406,391
37,522,086
48,266,759
53,185,177
48,568,950
47,090,595
81,459,986
92,594,024
38,573,591
51,399,176
72,432,924
91,531,818
118,563,215
22,509,653
57,328,348
77,762,622
Figures for 1913
when later returns
EXPORTS
+ 75,223.310
73,607.013
—51,097,360
48,936,500
69,195,025
+ 8,567,597
are not
OF
final, and
received.
are
are
LEADING
an
cases to
AND
Bread-
stuffs.
and
Dairy
P
Products.
(bi-monthly)
Security {No. 48)
All
Staples.
...
1892
...
1893
...
1894
...
1895
1896
...
1897
...
1898
...
1899
...
1900
...
1901
...
1902
1903
...
1904
...
1905
..
1906
...
1907
...
1908
...
1909
...
1910
...
1911
...
1912
...
1913 a...
128,121,656
299,363,117
200,312,654
166,777,229
114,604,780
141,356,993
197,857,219
Amalgamated Copper Co. (quar.)___
American Bank Note, com.
(quar.)
American Radiator, com. {quar.)
Preferred
Including both crude and refined, and also residuum.
final,and
are
subject In all
cases to
(qu.)
PETROLEUM EXPORTS BY
Kodak,
Preferred
Gorhara
Cotton
(extra)
5,820,779
1892...
5,891,411
4,431,220
5,397,509
2,907,358,795
2,935,219,811
2,212,115,126
2,683,282,325
3,517,433,109
2,335,226,385
3,103,754,949
3,850,264,295
3,773,410,293
3,100,583,188
3,330,890,448
3,500,778,763
3,543,043,022
3,063,912,760
4,304,848,903
3,634,045,170
1893;,1894..;
1895...
JL908
6,965,358
4,659,765
6,176,365.
7,581,004
7,373,382
6,090,144
6,508,450
6,873,692
6,938,279
6,009,194
8,337,964
7,05.0,856
8,708,469
7,4-34*580
1909....
8,577,728.
1896...
1897...
1898...,
1899...,
1900....
19012..;
1902....
1903....
1904....
1905...
1906....
1907....
1910....
1912....
6,263,293
7,829,066
10,675,445
(quar.
Manufacturing,
com.
1913a...
8,724,052
1911....
Figures for 1913
x
Includes residuum
are
well
as
rec
Aug.
Sept.
Sept.
Aug.
8a
2 Holders of rec,
July
2 Holders of rec,
Aug. 21a
1 Holders of rec
Aug. 30
July 31a
31
Aug. 30 Holders of
3
Sept.
XX
Aug. 30 Holders of rec
Aug/ 9a
50c.
Aug. 15 Holders of
rec
Aug.
2X
Aug. 15 Holders of
rec,
XX
Aug. 15 Aug.
July 31a
Aug. 15
1
rec
Holders of rec
6
to
Sept.- 30 Sept. 13
Sept. 15 Aug. 23
to
Oct.
1
Aug. 15
la
Sept. 16
Aug. 26
to
Holders of rec,
Sept. 15a
July
Aug.
5a
rec
Aug.
2a
xx
xx
Sept.
4
;
rec.
July
Aug. 15 Holders of
rec.
3
Sept.
Sept.
July 31a
Sept. 1
Sept. 1
Sears, Roebuck & Co., common (quar.).
Silversmiths Company (quar.)
xx
xx
Extra
■
■
^
^
8
Aug. 15 Holders of
Aug. 30 Holders of
3
Aug. 30 Aug. 12
to
Sept.
1
^
4
Aug. 30 Aug. 12
to
Sept.
1
^
XX
\ Preferred {quar.)...._________.
Union American Cigar, pref. {quar.)
Un. Cigar Stores of Am.,com.(qu.)(No.3)
'{quar!)....
Preferred
:
U. S. Steel Corp., com.
Preferred
xx\
xx
2X
3%
XX
XX
XX
(e)
(e)
;
{quar.)
{quar.)..
j——....
U. S. Telephone, pref. {quar.).
Whfte (J. G.) Engineer. Corp.,pf.(No.l)
White (J. G.) Management
Corp. (No. 1)
Willys-Overland, common (extra).......
Woolworth (F. W.) Co.,.com. (quar.)j..
mon
At rate of
7%
31
Aug.
Aug.
Aug.
1
to
Aug.
2
to
Aug. 15
Aug. 17
to
Sept.
Aug. 17
to
Sept.
3
to
Aug.
Aug.
5
to
Aug.
Holders of
rec;
July
Sept.
Sept.
Holders of
rec.
Aug. 20
Holders of
rec.
Aug. 20
Aug. 15
2
Sept. 2
Sept. 10
,
Aug. 17
31a
Aug.
Holders of
reo.
July
XX
Sept.
Holders of
rec.
Aug.
6 Less Income tax.
19
9a
d Correction
/Payable in
com¬
'
'
•
,
Aug. 15
Sept.
Sept.
Sept.
for 5 months ending June 30 1913.
per annum
stock.
July
5
Transfer books not closed for this dividend.
a
e
rec.
rec.
xx
xx
U. S. Envelope, common
/
1 Aug. 16
to
1 Aug. 16
to
Aug. 30 Holders pf rec. Aug.
la
Aug. 15 Holders of rec. July 31a
Aug. 15 Holders of rec. Aug.
8a
(quar.).
Standard Sanitary Mfg., com.
967,525,242
25a
25a
Aug. 15 Holders of
2
XX
708,220,777
Aug. I4a
Aug. 19
Aug. 20 Aug.
1
to
Aug. 15 Hdlders of rec. July
2
Southern California Edison, com. (quar.)
Southern Pipe Line (qpar.).f■.
1 Holders of rec,
21a
4/
Quaker Oats, preferred (quar.)
■
Auction
not
Sales.—Among other securities, the following,
usually dealt in at the Stock Exchange, were recently sold at
Philadelphia:.
'
to slight corrections.
By Messrs. Adrian H. Muller & Sons, New York:
belnnihg with 1910.
."/
"
;
"
Percent;
KingsCo.Ltg.Co.trustetf.$50persh
Shares.
:•
Percent
50 City Bank of Bayonne, N. J. 96
2,152 Exchange Nat, Bank of Pitts.,
.
each _J—
lot
$50 each.
$62 per sh.
-28'United Confectioners' Supply
7,500 Bristol Cons. Mines & S. Co.
of Ariz., $1 each...
Co., $25 each......$30 per sh.
$50 lot
40 Mutual Alliance Trust Co._.130
following shows all the dividends announced for. the
important corporations:
50 Paterson
future by large or
are
9a
9a
31
July 25
Sept. 2
July
rec,
24 Suburban Ld. Impt. Co., $25
Dividends announced this week
Aug.
Aug.
rec
Pittsburgh Steel, pref. {quar.)
Pressed Steel Car, pref. (quar.) (No. 58).
Procter & Gamble, common (quar.)
Common (extra) (payable in com. stk.)
Pullman Company (quar.) (No. 186)
Pure Oil (quar.)..
;.
393
The
Aug. 11
2 Holders of rec
2 Holders of rec
rec
1,372,955,746
dividends.
Aug. 21a
1 Holders of rec,
Aug. 25 Holders of
Shares.
"'w:;-;
Aug. lid
rec
1 Holders of
Aug.
Aug. 15 Holders of
1,185,202.449
cases
Sept. 19a
rec
1
xx
4,518,217,220
crude and refined oils
rec
rec
1
3,816,998,693
not final, and are subject in all
as
Oct.
Aug. 30a
2
auction in New York, Boston and
u
Sept.
July 31a
Aug. 15
rec
2 Aug. 15
to
Aug. 15 Holders of rec
xx
xx
2X
...
803,680,186
908,041,306
884,364,574
890,254,034
1,458,483.303
10
31
Aug. 14
Sept.
X
Vl4.808.479
1,546,067,984
1,616,540,756
1,793,665,03S
1,990,000,000
31a
Aug.
People's Gas Light & Coke (quar.)
'Standard Oil (Indiana)
4,447,985',202
Aug. 23
rec
Aug. 15 Holders of
Aug. 15 Holders of
XX
8
Aug. 15
Sept. 15
rec,
Sept.
Sept.
Sept.
2
...... _____ _
Aug.
Sept. 15 Holders of
Sept. 15 Holders of
Sept. 1 Holders of
Sept. 2 Holders of
Sept. 2 Holders of
1. Holders of
Aug. 13 Holders of
3
31a
Aug. 16
July
2X
_
July
2 Holders of rec
July
$4
la
Sept. 30
Aug. 15
rec
2X
_
July 26a
Aug.
Aug. 16 Aug.
1
to
Aug. 15 Holders of rec
Sept. 15 Holders of rec
(quar.)...
6a
rec
Aug. 15 Holders of
Jefferson & Clearfield Coal & Iron, pref.
9a
Aug.
xx
xx
xx
1
July 25a
July 26a
July 31a
XX
xx
xx
(quar.)
National Lead, com. (quar.)____.
Preferred {quar.)... ...;
North American Co. (quar
Omaha Elec. Light & Power, pref....
Penmans, Ltd., common (quar.)
Aug.
rec
to
Aug. 15 Holders of rec
Aug. 15 Aug.
6
to
Sept. 15 Sept. 6
to
Sept. 15 Holders of rec
xx
2X
(quar.)
National Carbon, preferred
Gallons.
3,206,708,226
4,033,940,915
5,535,125,429
4,562,015,620
rec.
to
11 Holders of rec
Aug.
29a
Aug. 16a
1
Aug. 15 Holders of
xx
xx
Liggett & Myers Tobacco, com. {quar.)
Mexican Petroleum, common (quar.)....
Miami Copper Co. (quar.) (No. 6)
Montreal Lt., Ht. & Pow. (qu.) (No. 49)
Petroleum,
1,014,276.272
919,044,718
950,623,155
1,008.947,394
1,075,899,960
941,156*856
961,860,345
1,074,384,814
1,182,917,221
rec.
Aug. 15
July
1 Aug. 26
to
Aug. 31
1 Holders of rec.
July 29a
Aug. 25 Holders of
Sept.
9
Aug
2 Holders of rec.
Aug.
Sept. 30 Sept. 23
Aug. 15 Aug.
7
5
Extra
"
Sept.
Aug.
X
______
Kellogg Switchboard & Supply (quar.)...
Kings Co. El. L. & P. (quar.) (No. 54)._
Lackawanna Steel, preferred (quar.)....
Lehigh Coal & Nav. (quar.) (No. 139)...
Exports.
1891...
Aug. 15 Holders of
Sept.
Aug. 15 Holders of
$5
{quarJ)..........
common
International Nickel, common
slight corrections.
x
to
1 Holders of rec.
Aug.
xx
xx
xx
Illuminating & Pow. Secur., pref. (qu.)__.
Indiana Pipe Line (quar.)_!___
QUANTITIES.
Pounds.
Aug. 2
July 31
XX
Inland Steel {quar.
Int. Harvester Co.ofN.J.,pf. (qu.) (No
.26)
Int. Harvester Corp., pf. (qu.) (No. 2)__
.
Bales.
rec.
4
_
5a
rec.
4
(quar.)...
Eastern Steel, first pref.
Exports.
Year ending June 30,
Aug. 26a
Aug; 15 Aug.
to
1
1 Holders of rec.
Aug.
Sept. 1 Holders of rec.
1 July 25
Aug.
to
1 Holders of rec.
Aug.
$2
—
COTTON AND
rec.
9a
29a
Aug. 15 Holders of
Aug. 20 Holders of
xx
xx
General Asphalt, pref. {quar.) {No.
25).__
General Chemical, common (quar.)__...
$
x
are not
July
July 31a
31
xx
xx
i
&Mortgage Guarantee {quar.)
Eastman
139,017,471 52,026 ,734 609,878,759
884 ,341,884
140,362,159 44,805 ,992 742,992,509 1,029 ,893,483
138,401,591 42,142 ,058 569,627,748
847 ,278,725
145,270,643 41,499 ,806 564,416,964
891 ,907,709
133,634,379 46,660 ,082 499,800,231
807 ,538,165
190,056,460 131,503,590 62,383 ,403 525,300,446
882 ,606,938
230,890,971 137,138,084 62,635 ,037 628,521,311 1,050 ,993,556
333,897,119 230,442,215 167,340,960 56,125 ,578 787,805,872 1,231 ,482,338
273,999,699 209,564,774 175,508,608 56,273 ,168 715,346,249 1,227 ,023,302
262,744,078 241,832,737 184,453,055 75,611 ,750 764,641,620 1,394 ,483,082
275,594,618 313,673,443 196,959,637 71,112 ,788 857,340,486 1,487 ,764,991
213,134,344 290,651,819 199,861,378 72,302 ,822 775,950,363 1,381 ,719,401
221,242,285 316,180,429 179,839,714 67,253 ,533 784.515.961 1,420 ,141,679
149,050,378 370,810,246 176,027,586 79,060 ,469 774,948,679 1,460 ,827,271
107,732,910 379,965,014 169,999,685 79,793 ,222 737,490,831 1,518 ,561,666
186,468,901 401,005,921 210,990,065 84,041 .327 882,506,214 1,743 ,864,500
184,120,702 481,277,797 202,392,508 84,855 ,715 952,646,722 1,880 ,851,078
215,260,588 437,788,202 192,802,708 104,116 ,440 949,967.938 1,860 ,773,346
159,929,221 417,390,665 166,521,949 105,999 ,637 849,841,472 1,663 011,104
133.592,611 450,447,243 130,632,783 99,090 ,212 813,361,5/68 1.744,,984,720
124,913*537 585,318,869 149,389,73/
98,115 ,516 ♦57,737,65' 2.049 3.20', 199
123,979,715 565,849,271 156,260,876 112,47,2 100 958.561.962 2,204 322,409
210,860, 000547,300,000151,000,000137,000,0001046160,0002.465
,300,
,000,
,000
761,910
Figures for 1913
rec.
rec.
9 July
2
{quar.)...
Amer. Utilities, pref. (quar.) (No. 6)
Blackstone Valley Gas & Elec., com.
290,712,898
258,461,241
188,771,445
210,869,289
204,900,990
a
Aug.
Aug.
3
.....
Total
Aug.
rec.
Aug. 15 Holders of
IX
________
Buckeye Pipe Line {quar.)..
Cambria Steel (quar
J.........4
Canada Cement, Ltd., pref. (qu.)
(No.14)
Canadian Converters, Ltd. (quar.)
Four
Aug. 17
rec.
IX
Miscellaneous.
Borden's Condensed Milk, common
Preferred (quar.)
Total
Aug. 30
July 31
Banks.
Chemical National
slight corrections
$
1891
{quar.)
rec.
rec.
2
X
xx
XX
xx
xx
XX
2X
2X
Valley St,. Ry., com. {quar.)..
Pacific Gas <& Elec., pref. {qu.) {No. 30)__
Philadelphia Co., non-cum. pref
Tampa Electric Co. {quar.) {No. 35)
BREADSTUFFS,
fir oleum.
Sept. 11 Holders of
1
Ohio Traction, pref. {quar.)..
PETROLEUM.
Provisions
Cotton.
1
Connecticut
Consolidated Gas {quar.)...
Year
Closed.
to
2
$3
__
8
Aug. 20 Holders of
Aug. 30 Holders of
Aug. 14 Holders of
XX
Diamond Match
ending
Aug.
75c.
Brazilian Trac., Lt. & Pow., Ltd. (quar.)
Connecticut Ry. & Ltg., com. & pf. (qu.
Massachusetts Northern Rys., pref.
Fiscal
June 30,
1
Detroit United Ry. (quar.
Lincoln Traction, pref. {quar__
Imports.
STAPLES—COTTON,
PROVISIONS
Books
Days, Inclusive.
Sept. 19 Holders of
Aug. 19 Holders of
1%
3%
4%
Street and Electric Railways.
American Railways, pref. (quar.)
Elevated Ry.
_
Boston
Bond
of
excess
When
Payable.
First preferred (quar.)
Utica Clinton & Binghamton.
64,890,665 47,050,219 17,840,446
71,614,311 41,269,641 30,344,670
subject In all
6 This is
Per
Cent.
xcvii.
(Steam) Concluded.
Oswego & Syracuse, guaranteed
Pennsylvania (quar.)
Reading Company, common (quar.)
5a,286,861 45,217,194 10,069,667,
64.749,958 45,937,249 18.812,709
+ 8,391,848
Company.
North Carolina
18,447,370
+67.915.493 22,729,705 26,980,488 64,250,783
49,948,758
+259,573 33,182,220 29,611,847 I 3,570,373
22,069,380
+86,628,071 41,107,181 34,293,999 | 6,813,182
72,989,563
+4,005,567 50,667,059 19,965,713 30,701,346
36,384,760
+30,083,721 24,295,286 20,211,179 27,084,107
33,525.065
+78,884,882 60,541,670 28,777,186 31,764,484
85,014,780 —44,653,200 61,946,638 30,533,227 i31.413.411
120,391,674 -104,985,283 55,105,239 30,927,781 124,177,458
88,954,603 —51,432,517 56,319,055 30,675,056 25.643,999
44,573,184
+3,693,575 56,712,275 35,256,302 21,455,973
66,051,187 —12,866,010 64,285,180 36,386,521 27,898,559
52,021,254
—3,452,304 49,732,390 28,232,254 21,500,136
44,982,027
+2,108,568 44,250,259 24,163,491 120,086,768
99,055,368 —17,595,382 49,472,702 27,768,814 21,703,888
53,648,961
+38,945,063 48,848,812 27,484,865 21,363,947
96,221,730 —57,648,139 65,869,063 44,442,540 21,426,523
114,510,249 —63,111,073 56,739,073 42,946,624 13,792,449
148,337,321 —75,904,397 57,921,202 44,658,097 13,350,121
+ 47.527,829 55,682,792 43,954,810 11,727,982
44,003,989
43,339,905
of
Norfolk & Western, common (quar.)
Preferred (quar.)
Excess
or
1891
[Vol.
&
Hud.
Riv.
RR.
Co., $50 each
$76% per sh.
10 FlrstNatBk.ofFlushing.L.I. 55
20 Farmers' Loan & Trust Co. 1,000
printed in italics.
Bonds.
Per cent.
$5,000 Pacific Lt. & Pow. Co. 1st
5s, 1942, J-J
92%
$19,390 Atlantic Mutual Ins. Co.
scrip of 1913
102%
By Messrs. R. L. Day & Co., Boston:
Name of
Company.
Per
When
Books Closed.
Cent.
Payable.
Days Inclusive.
Bonds.
Alabama Great Southern, preferred
Atch. Topeka & Santa Fe, common (qu.)
Baltimore & Ohio, common
Preferred
3
Albany {quar.)
Buffalo Roch. & Pittsburgh, com. & pref__
Chic. Milwaukee & St. Paul, com
Preferred
Chic. St. Paul Minn. & Om., com. &
pref.
Cin. N. O. & Tex.
Pacific, pref. (quar.)__■
Fonda Johnst. A
Gloversv., com. {annual).
Illinois Central {No.
117)
Louisville & Nashville.
N. Y. Chic. & St-. Louis, 1st & 2d
pref...
N. Y. N. H. & Hartford (quar.)
New*York Ontario A Western (No. 9)...
rec
.
XX
Sept.
2 Holders of
rec
.
3
Sept.
Sept.
2 Holders of
rec
.
2 Holders of
rec
2
Boston &
Aug. 28 Holders of
2
Sept. 30 Holders of
.
rec,
,
July
July
Aug.
Aug.
19a
31a
la
la
Aug. 30a
3
Aug. 15 Holders of
rec,
2%
Sept.
2 Holders of
rec,
3%
Sept.
2 Holders of
rec,
3%
Aug. 20 Holders of
Sept.
1 Holders of
rec,
Aug.
XX
rec,
Aug. 23a
2
Aug. 15 Holders of
rec,
rec.
2X
Sept.
2 Holders of
3X
2%
Aug.
9 July
Sept.
1%
Sept. 30 Holders of
2
Aug.
19
2 Holders of
4 July
1
to
rec.
rec,
to
,
Per cent.
$31,000 United States Finishing Co.
Railroads (Steam).
Aug.
8a
Aug. 12
Aug. 12
la
Aug.
5a
Aug. 11a
Aug. 10
Aug.
la
cons 5s, 1929...
...
70
By Messrs. Barnes & Lofland, Philadelphia:
Spersh.
Shares.
8 Fire Assn. of Phila., $50
ea.332-335%
Shares.
1 West End Trust Co.
Coin Mining
Co., $1 each
15 Phila. Life Ins. Co., $10 each..
46%
10%
8 JohnB. Stetson Co.
10
&
Milling
$4 lot
100-101
42 Mechanics' Ins. Co., $25.each.
24
$ per sh.
•
700 Gold
8 Moorestown, N. J., Trust Co.130
,com.385%-386%
Keystone Watch Case Co.
90
Giant Portland Cement Co.,
.
2
$50 each
20 Phila. Bourse, com., $50 each.
4
Bonds.
Per cent.
$1,000 No. Spring. Wat. Co. 5s, '28 91
$500 Laguna Madre Vineyard Co.
1st 6s, 1903
$4 lot
$25 Elizabeth & Trenton RR. scrip $7 lot
$15,000 Longmead Iron Co. 1st 6s,
1928
..$6,000
__
...
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Sept.
9a
Bonds.
July
8
$500 Springfield
'
Water Co. consol. 5s, 1926.....
Percent.
93%
Aug. 2
THE
1913.]
CHRONICLE
DETAILED RETURNS
Banks.—The following, information regarding
National
279
OF
TRUST
COMPANIES.
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
Loans.
Surplus.
Trust Cos.
Specie.
Legals.
Net
withC.H.
Deposits.
Banks.
Average.
Average. Average.
Average.
00s omitted.
On Dep.
APPLICATION TO CONVERT APPROVED.
State Bank of Tishomingo, Okla., into
Capital $30,000.
The American
"The Farmers'
National Bank of Tishomingo."
CHARTERS
ISSUED TO
NATIONAL BANKS.
■"
10.424—The First National Bank of Broken BoW, Okla.
Capital, $25,000.
J. W. Costilow, Pres.; T. L. Mallory, Cashier.
(Succeeds the
First State Bank of Broken Bow.)
10.425—The First National Bank of East Fairview, N. Dak.
Capital.
$25,000.
(P. O. Fairview, Mont.)
A. F. Nohlei Pres.; L. p.
Lanquette, Cashier.
(Conversion of the First State Bank of
>
East Fairview, N. Dak.)
'
.
INSOLVENT
1
.
.
I
S
$
%
702,0 2,285,0 18,742,0 15.0+10.8
121,0 20,401,0 89,251,0 15.0+18.6
328,0 4,769,0 30,926,0 15.0+13.1
31,0 2,308,0 12,585,0 15.0+14.9
1,057,0
3(380,0 20,212,0 15.1 + 14.1
1,193,0 19,659,0 106,854,0 15.4 + 15.5
241,0
759,0
5,551,0 15.3+10.5
340,0
1,432,0 11,205,0 15.8+11.2
740,0 4,620,0 36,790,0 15.0+11.1
404,0
2,118,0 13,790,0 15.0+13.0
553,0
3,882,0 29,328,0 15.1 + 11.6
151,0
864,0
7,340,0 15.3 + 10.4
208,0
932,0
8,437,0 15.1+10.0
9,0
1,905,0 12,508,0 15.0+13.2
483,0
1,494,0 10,829,0 15.3+12.1
3,571,5 24,047,0 2,110,0
14,874,3 115,548,0 3,352,0
4,455,2 36,535,0 4,316,0
U.S.Mtg.&Tr
Astor
1,208,4 18,271,0 1,850,0
Title Guar.&T. 11.355.1
33,439,0 2,010,0
23,863,5 152,991,0 15,272,0
Guaranty
7,344,0
613,0
1,324,0
Fidelity
1,438,0
16,766,0
LawyersT.I.&T 5,766,2
Colum.-Knick.
7.165.4 46,700,0 4,774,0
Peo pie's...
1.529.5 15,151,0 1,665,0
New York
11.939.2 43,418,0 3,883,0
Franklin
973,0
9,182,0
1,180,5
1,067,0
9,861,0
512,1
Lincoln
6,114,0 21,628,0 1,861,0
Metropolitan
800,8
11,413,0 1,184,0
Broadway
Brooklyn
Bankers
17.
July
$
$
$
BANK.
..
...
_
7,247- -The First National Bank of La Fayette, Ga.,
hands of a receiver on July 19 1913.
placed in the
was
....
Totals,
Reserve,
avge.. 95,669,7 562,294,0 56,368,0
6,561,0 70,808,0 414,348,0 15.1 + 14.5
July 26. 557,941,0 57,757,0
6,381,0 74,027,0 414,462,0 15.4+15.1
Actual figures
Canadian Bank Clearings.—The clearings for the week
ending July 26 at Canadian cities, in comparison with the
same week of
1912, shows a decrease in the aggregate of
7.04%.
•
•
.
The capital of the
trust companies Is as follows: Brooklyn, $1,500,000; Bankers,
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor, $1,250,000; Title
<fc Trust,
$5,000,000: Guaranty, Si0,000,000; Fidelity, $1,000,000;
Lawvers' Title Insurance & Trust, $4,000,000; Columbia-Knickerbocker. $2,000,000;
Guarantee
People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000; Lincoln, $1,000,000; Metropolitan, $2,000,000; Broadway, $1,500,000; total, $46,250,000.
Week
ending
20.
July
Clearings at-
SUMMARY COVERING BOTH BANKS AND
Inc. or
1912.
1913.
1911.
Dee.
TRUST COMPANIES.
1910.
On Dep.
Week
$
CanadaMontreal.
54,889,578
37,652,655
26,177,141
10,942,372
..
5
%
57,492,938
—4.5
44,500,000
—15.4
43,677,128
28,401,043
17,774,471
8.965.777
3.411.778
2,875,224
2,249,398
1,822*775
1,332,906
1,457,552
1,936,231
1,535,324
1,217,775
858,61/
1,963,009
1,615,038
—16.7
Brandon.........
594,502
528,550
+ 12.5
Lethbrklge
655.468
702,895
541,470
651,846
—6.7
36,356,379
20,348,201
9,774,319
4,164,694
7,810,186
2,867,659
2,519,478
1,906,295
2,400,364
1,762,811
1,487,619
1,196,299
1,135,355
1,162,388
741,841
482,489
518,147
+ 13.5
435,312
Toronto
Winnipeg
Vancouver
...
Calgary...'
Victoria..--..-...
—
Hamilton
Halifax
St.
..
John...
London
Regina
Saskatoon
Moose Jaw..
...
+ 1.1
—8.2
11,925,185
5,457,291
5,189,197
3,629,582
3,818,651
3;532,588
3.635,723
1,883,647
1,816,388
1,457,263
1,866,088
3,206,595
3,353,648
4,214,583
3,212,254
1,902,925
1,708,323
1,584,920
2,039,135
1,635,285
986,376
Quebec
Edmonton
25,880,407
3,837,466
4,365,366
Ottawa
—29.7
—15.9
—11.7
—12.2
+ 19.3
—11.6
+ 1.0
—8.6
+ 8.7
+ 9.3
—38.9
Fort
William.....
New
Westminster.
614,420
835.469
465,087 Not incl. in
total,
Medicine Hat.....
619,618 Not incl. in
total.
Brantford
.......
Capital.
ending
45,382,638
\
429,772
$
Averages.
Total.. 179,900,0 302,892,9
+-!( $
1,376,376,0
70,808,6
85,377,0; 70,808,0 1,790,724,0
Trust cos.
1,358,405,0 291,829,0
77,432,0
Total..
83,813,0]
1,916,346,0^49,586,0
74,027,0 1,786,750,0
StatelBanking Department also furnishes
of the
returns
State banks and
Clearing-House Banks
Trust Companies.—The detailed statement below
shows the condition of the New York City Clearing-House
These returns cover all the institutions of this class
but the figures
compiled
are
members for the week
ending July 26.
also
are
given.
STATE BANKS
Week ended
For definitions and rules under
"Chronicle,'" V. 86,
made up, see
results. In
of the week
;
which the various items
so
to
as
(Greater
as per
the
■
definitions and rules under which the various items
For
The figures for the
separate banks are the averages of the daily
the case of the totals, actual figures at the end
State/
.
and
are
weekly
companies under its
trust
York) and those for the rest of the
New
1,372,288,0
414,462,0
6,381,0] 74,027,0
557,941,0| 57,757,0
following:
Statement of New York City
414,348,0
1,925,400,0346,128,0
Actual.
Banks
in the whole State,
—7.4 142,452,474 118,015,771
Deposits.
%[
78,816,0
6,561,0
distinguish between the results for New York City
Canada...:..164,408,481 177,436,756
Total
Net
C.H.
Banks.
$
$
$
$
.
133,650,0 207,223,2 1,363,106,0 289,760,0
562,294,0 56,368,0
46,250,0 95,669,7
Banks
Trust cos.
charge.
+ 28.3
with
Legal
Specie.
Tenders.-
The
.
Loans.
Surplus,
July 26.
p.
316.
+^
'••••'
TRUST COMPANIES.
AND
State Banks.
Trust Cos.
State Banks,
in
in
outside of
July 26.
>
Or eater N.Y. Or eater N. Y. Greater N.
'
Trust Cos.
outside of
Y. Greater N.
Y.
are
'
'
made up, see
"Chronicle," V. 85, p. 836, in the case of the
p. 1607, in the caseof the trust companies:
banks, and V. 92,
'
DETAILED RETURNS OF BANKS.
We omit two ciphers
(00) in all cases..
•
$
Capital.
Banks.
Loans.'
Specie.
Legals.
Average.
Average.
Average.
S
$
Surplus.
■
$
S
ISR3
New York
Manhattan Co
Merchants'...
Mech.&Metals
America
.....
City
.:.
Chemical
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
25,000,0
3,000,0
4,280,1
4,756,8
2.178.3
8.873.7
6.438.1
30.516.1
7.410.4
600,0
526.8
300,0
127.2
500,0
1.047.2
4.536.4
16.526.4
Merchants'Ex.
'
Butch.&Drov.
Greenwich
5,000,0
25,000,0
Amer.^Exch..
Commerce
•
...
'
Pacific..
Chat. & Phcn.
People's
Hanover....
__
Citizens' Cent.
Nassau
...
Market &Fult.
Metropolitan.
Corn Exchange
Imp.&Traders'
Park
'
.....—
County
German-Amer.
14,536,6
2.294.8
466.9
1,925,2
1,817,2
5.908.0
7.900.9
14,134,6
67,2
5.948.1
2.701.5
22.020.2
3,299,8
5,000,0
.
250,0
500,0
750,0
5,000,0
Chase
Fifth AvenueGerman Exch.
100,0
200,0
200,0
Germania
1,000,0
1,000,0
Lincoln
Garfield
Fifth
-
Metropolis
—
West Side....
Seaboard
Liberty
N .Y .Prod .Ex.
State
Security'
Coal &
3,000,0
2,550,0
1,000,0
1,000,0
2,000,0
3,000,0
1,500,0.
4,000,0
Bowery
Y.
475.5
1,000,0
10,000,0
Irving
N.
200,0
250,0
,V_
Second
First
975.4
1.342.5
5,000,0
...
East "River...
"Fourth
500,0
2,250,0
Iron..
Union •Exch..
Nassau.Bklyn.
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,1,000,0
1,000,0
4
•
775.4
2,012,7
683,9
10.263.5
2.273.2
815.5
1.034.6
1,742,1
1,293,1
496,1
2.211.6
842,1
2,439,1
2,745,5
860.3
587,7
423.4
543,7
994,1
1.153.7
20,570,0
30,600,0
20,245.0
56,413,0
24,262,0
190,421,0
29,117,0
6,565,0
2,020,0
8.930J)
43,540,0
135,842,0
4,781,0
18,853,0
2,047,0
72,185,0
22,246,0
10,739,0
9,003,0
13,711,0
51,021,0
26,791,0
87,878,0
1,347,0
29,751,0
13,729,0
•
112,534,0
35,075,0
3,240,0
8,303,0
4,087,0
94,927,0
12,489,0
3,578,0
5,107,0
14,035,0
9,054,0
3,946,0
11,975,0
3,900,0
22,603,0
23,559,0
8,934,0
18,436,0
12,049,0
6,560,0
9,018,0
7,090,0
4,032,0
8,671,0
4,158,0
9,670,0
4,101,0
46,204,0
4,539,0
1,446,0
Net
Capital as of June 4—...
22,850,000
65,900,000
*8,798,000
*11;950,000
38,503,000
164,444,200
*12,932,285
*16,524,200
296,110,700 1,032,413,800
—4,478,700
—1,627,400
117,6S3,400
175,969,600
+ 144,500
Loans
762,0
1,596,0
1,175,0
2,622,0
1.S07.0
7,955,0
1,901,0
223,0
64,0
190,0
454,0
2,343,0
2,443,0
8,927,0
17,719,0 10,461,0
551,0
738,0
3*282,0
1,749,0
451,0
154,0
14,809,0
6,232,0
'Dcpos-
its, Aver,
and investments..
.
$
%
18,186,0
35,450,0
20,377,0
51,608,0
23,332,0
26.3
188,687,0
25,539,0
6,525,0
1,879,0
10,038,0
42,445,0
l! 1,445,0
4,53S,0
19,238,0
2,223,0
'79,863,0
2S.7
4,832,0
609,0
20,832,0
1,600,0
1,345,0
1,570,0
807,0
3,514,0
251,0
28.9
23.8
25.3
25.2
25.5
113,280,400
—43,900
Legal-tender & bk. notes.
Change from last week.
23,374,800
+ 1,094,600
10,081,600
—31,700
Deposits-
342,269,100 1,128,910,500
Change from last week.
25.2
26.7
28.4
26.1
Change from hist week.
26.3
+ Increase over last week.
—
26.1
25.0
121,0
27.5
obligations of the
30,113,0
26.9
the market value
153,0
12,570,0
106,069,0
35,331,0
3,294,0
25.2
of New York owned by the bank or
27.6
The State banks are likewise
26.1
tion, the reserve being computed on the
24.4
deposits
8,256,0
3,865,0
112,102,0
14,2S2,0
3,436,0
5,843,0
14,080,0
9,503,0
4,192,0
11,654,0
4,52S,0
27,029,0
25,952,0
10,378,0
23,901,0
14,310,0
24.2
to the amendment of
26.9
ment of
■*:
5,964,0
1,096,0
3,271,0
748,0
58,0
1,333,0
667,0
826,0
216,0
26,132,0
2,781,0
556,0
1,211,0
3,035,0
2,374.0
410,0
1,958,0
6,506,0
1,075,0
279,0
889,0
5,909,0
6,021,0
2,300,0
5,723,0
2,312,0
1,114,0
1,985,0
1,268,0
286,0
1,857,0
255,0
594,0
261,0
611,0
1,028,0
657,0
407,0
408,0
1,238,0
710,0
350,0
180,0
6,683,0
9,165,0
5,669,0
131,324,300
—655,600
23,467,700
+ 784.400
23,439,400
17.0%'
20.3%
13.8%
14.2%
—757,700
—575,700
"
17.0%
;:
20.9%
Decrease from last week.
2,240,0
7,244,0
3,855,0 .2,137,0
1,827,0
21,063,0
■
28.1%
28.0%
123,401,200
—708,400
183,331,000
+2,355,900
* As of March 7.
Note.—"Surplus" Includes all undivided profits.
"Reserve on deposits" Include
for both trust companies and State banks, not only cash items but amounts due
from reserve agents.
Trust companies in New York State are required by law to
proportionate to their deposits, the ratio varying according to lo-.
The percentage of reserve required is computed on the
26.6
keep
25.9
cat'on
27.6
aggregate of deposits,
24.8
25.4
thirty days, and also exclusive of time deposits not payable within
represented by certificates, and afso exclusive of deposits secured
29.1
27.0
24.3
reserve
a
shown below.
as
not
within
thirty days,
by bonds or
State or City of New York, and exclusive of an amount equal to
(not exceeding par) or bonds or obligations of the State or City
payable
exclusive of moneys held In trust and not payable
held in trust for it by any public department.
required to keep a reserve varying according to loca¬
whole amount of deposits exclusive of time
within thirty days, represented
1910), and exclusive of deposits
obligations of the State or City of New
for It by any public department.
York owned by the company or held in trust
„
—-Trust Cos.—
25.0
25.7
and
State Banks.
Location—
25.6
Manhattan Borough
25.9
Brooklyn Borough (without branches
Other Boroughs (without branches in
28.7
Total
Required for Trust Companies
Reserve
27.7
24.3
—
in Manhat.)15%
Manhattan) 15%
26.0
25.6
Cities of the first and
24.8
Cities of the third class
27.2
Elsewhere in State
25.4
25.5
The Banking
rate
trust
basis of averages, circulation of national banks in the Clear¬
House amounted to $46,683,000, and, according to actual figures,was $46,790,000.
second class
and villages
—
Of
,
—State Banks—
Total
Of
Reserve
which
Reserve
which
Required, in Cash. Required, in Cash.
15%
15%
25%
15%
Brooklyn Borough, with branches In Manhattan-15%
Other Boroughs, with branches In Manhattan... 15%
25.7
by certificates (according
secured (according to amend¬
1911) by bonds or obligations of the City or State of New York, and ex¬
clusive of an amount equal to the market value (not exceeding par) of bonds or
10%
10%
10%
10%
15%
20%
20%
20%
10%
15%
5%
3%
15%
15%
15%
....
-
15%
6%
Department also undertakes to present sepa¬
figures indicating the totals for the State banks and
companies in Greater New York not in the Clearing-
House.
deposits-
Percentage last week..
—62,800
—
27.2
26.9
ing
93,607,000
Reserve on deposits
P. C. reserve .to
,
+ 103,200
25:2
1358,405,0 291,829,0 77,432,0 1372,288,0
|N Circulation.—On the
—1,869,900
27.5
26.7
July 26.
54,707,000
5—1,935,000
...
26.1
Totals, avge.. 133,650,0 207,223,2 1363,106,0 289,760,0 78,816,0 1376,376,0
Actual figures
Change from last week.
Specie.
11,746,0
8,90S,0
14,505,0
61,213,0
',24,112,0
89,908,0
1,574,0
9,678,0
313,0
5,876,0
3,025,0
28,228,0
Reserve.
$
$
Surplus as of June 4
Change from last week-
00s omitted.
$
•
These figures are shown in the table below, as are
also the results
(both actual and average) for the Clearing-
380
THE
House banks and
trust
companies.
In addition,
CHRONICLE
Boston and Philadelphia Banks.—Below is
have
we
of the
combined each
corresponding item in the two statements,
thus affording an
aggregate for the whole of the banks and
trust
[Vol.
and
YORK
CITY BANKS AND
We omit two ciphers (00) in all these figures.
Capital
TRUST COMPANIES.
Week
ended
July
26—
Clear.-House
Members.
State
Banks.
and
Loans.
Specie.
Legals.
Deposits.
$
$
Cos.
Aver.
$
■
$
as of June 4...
179,900,000
179,900,000
27,550,000
207,450,000
Surplus
as of June 4...
302,892,900
302,892,900
75,596,100
378,489,000
Loans and investments
1,916,346,000
Change from last week —13,074,000
1,925,400,000
—5,692,000
1,790,724,000
—756,000
547,579,900 2,472,979,900
—6,852,900
—1,160,900
0551,966,700 2,342,690,700
—3,212,600
—2,456,600
•
Specie
1
Change from last week
349,586,000
346,128,000
+ 6,472,000
+ 4,407,000
—262,700
Legal-tenders
_.a
Change from last week
83,813,000
85,377,000
+ 657,000
57,493,800
+ 815,000
Banks: cash in vault..
411,286,800
+4,144,300
65,158,800
92,870,SOO
+ 557,300
-
—99,700
369,261,000
26.90%
368,576,000
12,217,700
13.72%
380,793,700
26.77%
Trustcos.: cash in vault
64,138,000
62,929,000
60,434,900
123,363,900
7.
14.
June
21.
June
28.
July
July
July
July
12.
19.
433,399,000
+ 7,287,000
431,505,000
72,652,600
—362,400
504,157,600
+ 5,064,000
;t»
-
deposit with
other bks. & trust
coe.
74,027,000
70,808,000
18,013,600
88,821,600
Change from last week
+7,550,000
+ 4,341,000
.—470,600
+3,870,400
507,426,000
+ 14,837,000
502,313,000
+ 9,405,000
90,666,200
Total reserve....
Change from last week
Surplus CASH
Banks
Trust
7.
103,684,3
June
14.
103,684,3
June
21.
June
28.
103,684,3
103,684,3
103,684,3
103,684,3
103,684,3
103,684,3
July
July
12.
July
July
26.
Change from last week
5.
19.
"Deposits"
were
26,189,000
24,482,000
1,968,700
776,800
28,157,700
25,258,800
+ 7,885,500
+ 5,173,600
on
dep. with bks.
—833,000
These
15.15%
15.18%
14.59%
30.62%
29.77%
over last week.
deposits amounted
of the
case
to
-
16.55%
1.37%
For Week.
Merchandise.
Dry
Jan.
1912.
Merchandise
•
15,504,034
$19,342,706
$18,294,447
$19,436,984
$17,950,791
$85,655,052
$83,044,151
$80,546,806
482,357,135
493,805,606
421,154,923
$91,171,013
452,133,281
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 26 and from Jan. 1 to date:
EXPORTS FROM
week.
In
1913.
For the week..
of the New York City Clearing-House banks
compare as
follows for
a
outside
of
the
The
specie
omit
ciphers
two
AND TRUST
COMPANIES IN
in
all
these
..v..
Investments
Deposits.
Specie.
Legals.
$
$
$
$
c
Holdings.
onDeposit
the exports and imports of
IMPORTS OF
SPECIE AT
7....
2.487.401.3 2.338.227.3 405,887,1
2,478.544,0 2,330,812,1 406.538.7
2,479,212,8 2.329.259.1 406.622.4
2,460,968,5 2.318.894.4 413,226,6
2.449.301.4 2,318,877,0 420,990,1
2,456,190,0 2.324.559.2 423,439,0
2,481,840,3 2.352.237.2 417,144,3
2,479,309,2 2.346.069.6 406.995.5
2.479.832.8 2.345.903.3 407,142,5
2.472.979.9 2.342.690.7 411.286.8
14
June
June
21....
June
28
July
July
July
July
5
12....
19....
26
92.890.2 498,777,3
93.010.3 499,549,0'
91,574,2 498,196,6
91,897,6 505.124.2
92,732,2 513.722.3
93,370,9 516,809,9
88,559,9 505,704,2
91,587,0 498.582.5
92,313,5 499,456,0
92,870,8 504.157.6
568.851.3
571.814.4
569,830,2
573,727,0
597.360.5
601,506,7
595,249,4
587,026,9
584,407,2
Great
France
_I*......-.
Germany
West
ending July 26, based
results:
.
We
,
'\V'
'
.
average
-v."
'
daily
:
...
—
America.
All other countries
......
Total 1913.
Total 1912.
Great
Britain
Loans,
Disc'ts
Capi¬
Sur¬
and
tal.
plus.
Invest¬
ments.
Specie.
_
.i.
.
-
West Indies.'
a..a
America
354
—
....
58,555
23,024
4*300
84,349
33,057
87,437
2,856,774
1,464,682
894,210
$259,498
148,607
26,577
$5,398,665
5,776,919
4,550,821
Total 1912.
1,328,685
Net
$13,983
$4,690
133,102
Total 1911.
Desposits.
7,838,081
7,909
1,200
On
C.-H.
81,872
a
-----
Deposit
Banks.
1,125,746
$410,958 $11,145,127204,620
13,420,502
"35,794
Legal
Bank
6,699,729
2,073,841
~~
Tender
Notes,
55~66O
235,351
45,734
54,149
3,755,899
..-
All other countries..
with
~~
_i...K..r
$915,762 $29,123,187
1,176,081 31,021,873
and
$47,821
611,595
2,944
583,451
"420*724
$915,408 $25,322,385
France',......... a
Total 1913.
Banks.
Since Jan. 1
Silver.
South
om$t two ciphers (00) in all these figures.
Week.
$321,410 $68,695,596
272,100 32,468,847
2,764,941
Mexico
'
JImports.
Since Jan, I
$43,575,270
714,000
$100
236,851
5,171
loo",000 22,448,289
221,310
1,716,015
..a.....—....
Indies..--....^.-.-...
Mexico
South
Germany
on
'
Britain.......
Total 1911.
banks for the week
YORK.
Gold.
592,979,2
Reports of Clearing Non-Member Banks.—The follow¬
ing is the statement of condition of the clearing non-jhember
NEW
Exports.
Week.
.
$12,803,943
361,791,766
1911:
EXPORTS AND
EntireRes.
466,018,823
1910.
$16,148,162
434,279,755
$529,788,334 $479,074,239 $450,425,917 $374,595,709
following table shows
1912 and
TotMoneg
1911.
$13,055,416
at the port of New York for the week ending July 26
and since Jan. 1 1913 and for the corresponding periods In
figures.
Loans and
1912.
$14,144,568
515,643,766
Total 30 weeks
series of weeks past:
GREATER NEW YORK.
We
NEW YORK.
York'City"; with this item included,
are "legal net deposits" both
b Includes bank notes.
COMBINED RESULTS OF BANKS
June
$2,631,661
15,319,130
'
—
17.92%
companies in Greater New York
Clearing House,
24
31....
1910.
$2,928,031
16,508,953
$568,012,187 $576,849,757 $501,701,729 $543,304,294
and trust companies, combined with those for the State banks
May
May
1911.
$2,790,413
1.
Goods...............
Previously reported.
Week Ended—
are
$2,625,693
16,717,013
Clearing-Houxe members, the deposits
The averages
trust
9,566,0
11,323,0 225,062,1
11,316,0 170,199,8
11,246,0 160,630,1
11,251,0 161.405.3
11,250,0 175.479.7
11,279,0 156.380.6
11,275,0 161.260.7
11,269,0 140,390,6
"Exchanges for Clearing House," which
1913.
\
Goods
Total 30 weeks.
$622,872,300, a decrease of $772,200 from last
for the average and the actual figures,
and
8,094,0
8,609,0
8,802,0
9,376,0
*427,133,0
*418,769,0
*415,169,0
*414,948,0
*419,892,0
*413,615,0
*416,635,0
*407,151,0
89,664,0
160.476.7
154.167.8
137.795.1
131.285.2
157,938,4
142,433,1
179,828,1
134.189.6
FOREIGN IMPORTS AT NEW YORK.
Since
•—
-
—Decrease from last week:
and other banks and trust companies in New
the
7,952,0
Imports and Exports for the Week.—The following
the deposits after eliminating the item "Due fron reserve
depositories
are
267,443,0
263,335,0
270,663,0
266,802,0
274.343,0
263,246,0
the imports at New York for the week
ending July 26; also
totals since the beginning of the first week in
January:
General
.
+ Increase
$
7,956,0
7,966,0
:
15.47%
Total
a
93,402,0
91,611,0
90,394,0
89,412,0
89,151,0
90,459,0
92,093,0
include the item of
now
reserves of tr ust cos—
Cash In vault
»•**
4,093,0
29,813,0
$
275,708,0
271,593,0
reported on July 26 as $11,999,000.
General
% of cash
I
223,617,0
377,565,0
376,238,0
374,903,0
375,360,0
376,195,0
374,902,0
373,535,0
371,501,0
Total
Total
Cash
$
3,993,0
4,184,0
4,587.0
4,262,0
3,481,0
4,074,0
4,327,0
230,667,0
Includes Government deposits and the' Item "due to other banks."
At Boston
Government deposits amounted to $1,624,000 on
July 26, against $1,656,000 on
July 19.
"
Dry
(above 25%)..
(above 15 %)
26.
592,979,200
+ 8,572,000
-
reserve
cos.
5.
$
26,284,0
228,794,0 26,991,0
226,011,0 27,113,0
226,770,0 26,596,0
227,086,0 25,157,0
225,033,0 27,104,0
225,428,0 29,323,0
Phlla.
+ 4,701,600
•
on
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
June
*
Money
Clearings
a
Ratio ot deposits'....
Aggr'te money holdings
Change from last week
$
June
June
Average.
Capital
Deposits
1,786,750,000
Change from last week
—2,178,000
Boston
Banks & Trust
Cos. Not
in C.-H.
Average.
Circu¬
lation.
a
Total of all
Banjcs and
Trust
Members,
ActualFigures
summary
Philadelphia:
Surplus.
Clear.-House
a
weekly totals of the Clearing-House banks of Boston
companies in the Greater New York.
NEW
xcvii.
28,847,949
-
Of the above
American
New York City.
imports for the week in 1913, $56,028
gold coin and $1,520 American silver coin.
were
Manhattan and Bronx.
Washington Helghts.
Battery
Park,
a
Century
Colonial..
Columbia
Fidelity
Mount Morris
Mutual
New Netherland
Twenty-third Ward..
Yorkville
100,0
200,0
500,0
400,0
300,0
200,0
250,0
200,0
200,0
200,0
100,0
349,7
119,9
511,3
656,3
767,6
173.5
334.3
470.4
300.6
104.4
489,3
1,726,0
151,0
1,612,0
302,0
6,453,0
742,0
6,549,0 1,017,0
5,773,0
523,0
1,116,0
55,0
2,191,0
342,0
4,829,0
519,0
3,349,0
379,0
1,865,0
212,0
4,270,0
560,0
95,0
41,0
227,0
278,0
220,0
456,0
121,0
40,0
349,0
125,0
335,0
898,0
684,0
175,0
271,0
85,0
734,0
346,0
284,0
222,0
517,0
Brooklyn.
First National
300,0
Manufacturers' Nat..
Mechanics'
National
North
252,0
1,000,0
300,0
200,0
City
Side
701,6
944,3
592,9
585.5
177.6
3,776,0
394,0
5,425,0
458,0
9,772,0 1,357,0
4,504,0
536,0
2,256,0
186,0
57,0
247,0
416,0
108,0
127,0
Jersey City.
623,0
591,0
1,769,0
683,0
576,0
1,463,0
1,597,0
6,094,0
6,725,0
6,470,0
1,053,0
2,399,0
4,899,0
3,484,0
1,986,0
4,682,0
gatxMtxfl ami IfimxtxaixL
Issues of Listed Stocks
115
The
classified by us as follows:
Investment, SemiInvestors interested In stocks can obtain
of this circular free of charge by sending for Circular 614,
"Railroad and Industrial Stocks."
Issues
are
Investment, Speculative.
a
3,092,0
4,819,0
11,710,0
4,462,0
2,323,0
copy
Spencer Trask & Co.
43
EXCHANGE PLACE—NEW YORK
Albany
First National
Hudson County NatThird National
400,0
250,0
200,0
1,404,2
826,8
431,7
4,484,0
3,252,0
2,622,0
286,0
229,0
94,0
365,0
57,0
132,0
2,193,0
591,0
468,0
3,381,0
1,777,0
1,442,0
220,0
682,4
283,7
4,305,0
254,0
195,0
57,0
54,0
668,0
419.0
1,524,0
1,546,0
Hobokon.
First National...
85,0
a
_
Second National.
125,0
3,341,0
76,928,0
77,273,0
76,821,0
!
Chicago
White, Weld & Co.
Totals
July 26..._ 6,097.0 10,908,0 83,470,0 8,791,0
3,652,0 13,137,0
Totals July 19...,
6,097,0 10,908,0 83,339,0 8,896,0 3,746,0 12,896,0
Totals July 12...
6,097,0 10,908,0 82,829,0 8,977,0 4,163,0
13,947,0
Boston
Bonds and
14
WALL STREET
NEW YORK
THE
Investment Securities.
ROOKERY
' CHICAGO
111 DEVONSHIRE STREET
BOSTON
aug. 2
281
CHRONICLE
THE
1913.]
Exchange at Berlin on London, 20m. 47%pf.; week's range, 20m.
lattftm*
Wall Street, Friday
:.
The Money
high and 20m.
dfeHte.
Night, Aw?. 1 1913.
Market and Financial Situation.—Satur¬
day's bank statement was a favorable one and the news over
Sunday to the effect that an agreement had been entered
for arbitrating
into
the trainmen's demands
gave
a
more
hopeful outlook to the general situation than the security
markets faced last week.
There was on Monday, there¬
fore, a moderate advance in prices.
<
Budding optimism received something like a cold douche,
however, on Tuesday, when the daily reports from Washing¬
ton included charges mkde by the Secretary of the Treasury
that the N.Y. banks had conspired (as though such a thing were
within reason) to depress the price of Government bonds.
The charge seemed almost too absurd to be noticed and is
now generally so regarded; but
^the fact that it should be
officially made had an unsettling effect in financial circles
here.
..:
'
The U. S. Steel
June 30
caused
was
•
Corporation's report for the quarter ending
more
favorable than had been expected and
common shares of nearly 2 points.
advance in Steel
an
The report
showed net earnings of over $41,000,000.
It is
perhaps one, ever made for the correspond¬
ing period, and indicates a surplus * available for dividends
on the shares mentioned of nearly 4% for the quarter..
Some of the statements of railway earnings given out this
week are also favorable, conspicuous among which is that
the best, except
of
Southern
the
Pacific for June and for the fiscal year.
is, in round numbers,
For June the net excess over last year
$438,000, and for the year $4,800,000.
Several other lines
show a heavy traffic movement, but Illinois Central's divi¬
dend has been reduced, owing to reduced net income.
A
plan of Treasury officials to place Government funds in
Western and Southern banks has been reported and gives
general satisfaction.
Any method which will prevent the
urgent demand for enormous sums heretofore made upon
and supplied by the New York banks at the harvest season
will be heartily welcomed here.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2@2%%.
Friday's rates on call were 2@2%%.
Commercial paper on Friday quoted at 6 @6%% for 60
to 90-day endorsements and prime 4 to 6 months' single
names and 6% @7% for
good single names.
The Bank of England weekly statement on Thursday
showed
an
increase in bullion of £557,589, and the percentage
53.84, against 53.69 last week.
The rate of discount remains unchanged at 4%%, as fixed
of
reserves
April 17.
000 francs
-
.
to liabilities was
The Bank of France shows an increase of 10,838,gold and 1,019,000 francs silver.
NEW
.
YORK
CLEARING-HOUSE BANKS.
Germany
Bankers' Marks—
High for the week___
94 7-16
Low for the week—
94 5-16
Amsterdam Bankers' Guilders—
39 13-16
High for the week___
ow for the week-__
39%
10c.
Louis,
St.
$1,000
per
Differences
from
week ending
Surplus......
Loans and discounts.
.
.
Inc.
46,683,000.
1,376,376,000 Inq.
2,89,760,000 Inc.
78,816,000 Inc.
Circulation.
Net
deposits.....
Specie
Legal-tenders
...
..
Minneapolis,
reg.,
at 99% to 100,
points and New York Central 1.
•/
On the other hand, Eries have been strong, the 1st pref.
moving up 4 points and the common 2.
U.S. Steel advanced
2 points on its favorable quarterly statement.
For daily volume of business see page 289*
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
Sales
STOCKS.
Week ending Aug.
1.
Allis-Chal pref rec
5th pd
400
Amer Coal Products
_
American Express
Can Pac subs 3d paid
Colorado & Southern.
First
__
preferredpreferred
Second
General Chemical
Gt Nor pref subs
60% pd
Hocking Valley
_
___
...
Norfolk
12
180
1911.
Ontario Silver Mining..
500
week ending
week ending
July 27.
July 29.
Pittsburgh Steel, pref
Quicksilver Mining
500
50
700
United Dry Goods
U
S
100
80
Express
50
U S Indus Alcohol
20
Preferred
:
81
Aug
12% June
1 128
July 28
54% July 30
40% July 31
2
July 31
94% July 31
2
July 31
3% July 31
45% July 28
90
July 28
43
July 30
30
July 30
251
90
300
40
Virginia Iron, Coal & C_
Wells, Fargo & Co____.
200 100
West Maryland,
100
pref___
1 130
July 28
Highest
17
July
June 136%
July 94
,
Jan
Jan
July 110
July
July 175
July 215%
July
July
June
33
Jan
July
69
Mar
July
65%
June 185%
July 124%
Apr
Apr
July
June
June 125
'
100
Southern
17
16% July 29
Aug
Lowest.
Highest.
80
81% July 31
11 100
July 29 100
July 31 110
476 142% July 30 150
July 26, 142%
520 211% Aug
1 213% July 30 1203
530 29% July 31
23%
30% July 30
65
200 64% July 31
July 31
64%
55
60
116 60
July 29
July 29
2 175
July 29 170
July 29 175
600 124
July 26 124% July 28 120
100 125
July 28 125
July 28 125
7
7
100
July 26
5%
July 26
100 77% July 30
75%
77% July 30
100 67% July 31
66
67% July 31
.
...
Lowest.
100 130
Am Brake Shoe & F, pref
Preferred
Range, since Jan. 1.
Range for Week.,
for
Week.
Averages for
2,643,000 1,388,977,000 1,387,007,000
47,647,000
4,000
45,739,000
38,000 1,426,189,000 1,424,125,000
293,250,000
291,571,000
4,244,000
78,233,000
621,000
81,993,000
premium.
regular and unsteady, with many issues closing lower than
last week.
To-day's market was exceptionally dull and
prices sagged off, apparently from no other cause than inertia.
Illinois Central dropped over 9 points on a reduction of
its dividend rate.
Canadian Pacific has added 2 points
to the decline noted last week.
New Haven has lose 2
1912.
197,084,400
Dec.
less 1-16
above, the stock market was strong on Monday and the ten¬
dency to higher prices, which was a feature at the clpse last
week,
continued.
This tendency was, however7, short¬
lived, and, beginning on Tuesday, the market has been ir¬
Preferred
135,150,000
190,141,300
Panama 3s,
the Board include $2,500
Mackay Companies.
133,650,000
40$>%
$1,000 discount. Boston, par.
San Francisco, 50c. per $1,000
per
$17,000Panama 3s, coup.,at 99% to 100, $20,000 Panama
2s, reg.,at 95% to 95%, $30,000 4s, reg., at 110 to 110%,
$10,000 4s, coup., at 110, $30,000 3s, reg., at 101% to 102,
$336,000 2s, reg., at 95% to 98%, and $25,000 2s, coup., at
95%.
The 2s were exceptionally strong to-day, selling 2%
points higher than last selling price.
For to-day's prices
of all the different issues and for yearly range see third page
following.
Railroad and Miscellaneous Stocks.—For reasons noted
United Cigar Mfrs.___.
133,650,000
207,223,200
1,363,106,000
95 3-16 less 1-32
40 1-16 plus 1-32
40 1-16 less 1-32
States Bonds.—Sales of Government bonds at
Preferred
Capital.'
95 5-16 less 1-32
95 1-16
St.
Paul, par.
Montreal, l-16c.
$1,000 premium.
Cincinnati, par.
United
Averages for
previous week.
July 26.
95 3-16 less 1-32
premium.
20c. per
N Y Chic & St Lpuis
1913.
5c.
discount.
Domestic Exchange.—Chicago,
Keokuk & Des Moines..
^
(Not Including Trust Companies.)
Averages for
48pf.
46%pf. low.
for foreign exchange for the week follows:
4
Cables.
Sterling Actual—
Sixty Days.
Cheques.
4 8735
High for the week—4 8340
4 8685
4 8690
Low for the week—4 8310
4 8650
Paris Bankers' Francs—
less 3-32
1
17]
High for the week—5 21 %
5 18% less 1-16
less *1-16
183
Low for the week—5 21% less 1-32
5 18% less 1-32
The range
56
July 28
July 30
54% July 30
40% July 31
2
July 31
94% July 31
2% July 31
4% July 30
45% July 28
90
July 28
43
July 30
25
July 30
July
30l
Apr
Apr
•
May
63%
Jan
47%
Apr
2%
Feb
Jan
94% May 100
2
4% May
July
8
May
3% July
Feb
40% June 50%
Jan
87
July 101
Jan
July 66
43
37
56
Jan
69
Mar
2
July 30
30
7
87
July
40
90% July 29
41% July 2S
July 29 100
July 30
51
Jan
July
June
85
'
91
53%
June
44
Jan
June
97
Mar
July
54
July 125
67%
June
Jan
Apr
Jan
'
Reserve
held...;
25% of deposits.......
Surplus
reserve
«
9,500
373,564,000
356,547,250
371,483,000
356,031,250
4,855,500
17,016,750
15,451,750
368,576,000 Inc.
344,094,000 Inc.
4,865,000
24,482,000 Inc.
•
weekly showing the actual
well as the above averages. - The
figures, together with the returns of the separate banks and trust companies, also
the summary. Issued by the State Banking Department, giving the condition of
State banks and "trust companies not reporting to the Clearing House, appear on
the second page preceding.
'
Note.—The Clearing HouSo now issues a statement
condition of the banks oh Saturday morning, as
.
State
and
the Board
Railroad
.
.
Bonds.—Sales
of
,
.
.
State bonds
at
limited to $15,000 New York 4s,
1962, at 97%
and $10,000 Virginia 6s deferred trust receipts at 57% to 59.
The market for railway and industrial bonds maintains
practically the same characteristics as for some time. Trans¬
actions have generally been on a small scale and included
only a few issues.
Fluctuations have been narrow in most
cases, the exceptions being Wabash ref. & ext. 4s, which have
advanced 2% points, and Southern Pacific conv 4s, which are
1% points higher than last week.
Other changes are fractional and almost equally divided
between highes and lower.
are
Foreign Exchange.—The market for sterling exchange
has ruled easy all week but has had no noteworthy features.
There were no additional engagements of gold reported for
Paris.
To-day's
4 8320
cables.
(Friday's) actual rates for sterling exchange were 4 8310®
for sixty days, 4 8650@4 8660 for cheques and 4 8690@4 87 for
Commercial on banks 4 81 @4 82% and documents for payment
4 82% @4 83%.
Cotton for payment 4 82%@4 83, grain for payment
4 83@4 83%.
The posted rates for sterling exchange, as quoted by a representative
house, declined %c. on Thursday and closed at 4 83% for sixty days and
4 87 for sight.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 21 %
1-32@5 21% for long and 5 18% less l-64@5 18% for short.
Ger¬
bankers' marks were 94 5-16@94% for long and 95% lpss 3-64@
95% less 1-32 for short.
Amsterdam bankers' guilders were 40 1-16 @
40 1-16 plus 1-32 for short.
Exchange at Paris on London, 25f. 24%c.; week's range, 25f. 25%c
less
many
high and 25L 24%c. low.
was
no
particular trend to
trading this week, the volume of business
continuing of small proportions.
Standard^ Oil shares, how¬
ever, were strong, and exhibited more activity than for some
time.
A sensational advance of over 600 points to 2,250
Outside
'curb"
Market.—There
market
reported in Waters-Pierce Oil stock on the sale of a few
shares," due to the ratification of the plan of reorganization
which provides for large cash and stock dividends.
The new
stock was quoted, "w. i.," 41 bid, 43 asked.
Standard Oil
of N. J. advanced 4 points to#367 and closed to-day at 366
was
Anglo-Amer. Oil"was traded in up from 19% to 19% and
back to 19%, ex-dividend.
British-Amer. Tobacco moved
up from 22% to 23% and sold finally at 22% to-day.
United
Cigar Stores common improved from 83 % to 85 and reacted
finally to 83%.
Transactions in Tobacco Products pref.
were recorded
to-day, the first in some time, down from
85 to 84%.
Activity continued in New Haven deb. 6s,
"w. i.," and the "rights," the former selling up from 106%
to 106% and down to 104%, the close to-day being at 105%.
The "rights," after fluctuating between % and 1, advanced
to-day to 1 %, closing at 1 %.
Southern Pacific certfs. of in¬
terest rose from 95% to 96% and dropped to 93%, the final
figure to-day being 94.
Union Pacific "rights" were off from
1 to 9-16 and up at the close to-day to %,
Brooklyn Rap.
Tran. 5% notes sold up from 95 to 95% and back to 95.
a
transaction in Western Pacific 5s was reported to-day at
79%.
In copper shares, Braden was strong at first, improv¬
ing from 6% to 7%, but later reacted to 6%.
Greeno
Cananea weakened from 6% to 6% and recovered to 6%.
A sale of the new Greene Cananea stock, par value $100, was
reported at 34.
Nipissing sold up from 8% to 8% and back
to 8%.
Goldfield Consolidated advanced from 1 11-16 to
1%, fell to 1% and sold back to 1 11-16.
Outside quotations will be found on page 289.
282
(RewTorFStock BxeHange—StockTlecoriTrDaily, Weekly'and Yearly
TWO PAOES
OCCUPYING
?'v,.
4
For record of sales during the week of stocks usually inactive,
STOCKS—HIGHEST AND LOWEST SALE PRICES
Sales
of]
fonday
July 28
Tuesday
July 29
Wee*
Friday
Aug 1
Thursday
Wednesday
July 30
July 31
681a
*97%
>119
98%
♦80
99
*97
98%
98
98
120
120
98%
82
*80
88% 88:
216% 2173s
8884
♦280
"54"
•13
15
•28
*280
54
661*
1438
1412
2912
29l2
10018 10658
30
106
105%
13712 ♦135
130
12912 12934
•134
565s
14l2
31
137
14%
*28%
10558 IO6I4
13678 13678
130
130
130
•173
182
*173
182
*173
182
•34
45
♦34
45
*34
45
1051,
105
55U
133,
29i2
10514
136
134
134
12934
12812 129*2
*14
15
*13l4
295,
3018
105
105i8
106i2
*135
135i2 136
*129
130
12984
*173U 182
*173%
14l2
30
29'4
*34
*172
182
*34
45
53l2
133s
29i2
58%
45
3814
Do
♦156
159
*156
159
*156
159
*156
159
♦385
395
*385
395
*385
395
*385
395
♦18
20
20
20
20
20
•29
32
§32
32
530
30
•412
*5
612
•10
12
*5
612
♦10
2638
26%
2634 27%
4H2 41%
4218
4334
•33% 34%
3384
3438
125% 12638 126% 12634
35
36
36*8
373s
•113% 114% *113% 114%
1534 1578
1534
16
59
59
59
59S4
•2634
28
27%
59%
8i2
283S
60
'
i*58
!
60
»7%
8%
•16
21
341*
126
36
11334
1534
585s
27%
♦58
8l2
*16
15018 151
15034 151%
13234 13314 *13212 13412
•126
132
•15
16
♦126
134
134
*126
132
293g
46%
277,
45%
29
4534
36
36
3612
36
36
12512 12534
58
59
28
60
♦58
60
*8
12
•20
21
9%
132
*58
•20
23
150
15Q12
134
134
*126
132
*20
38
*140
*140
150
10%
300
-
32%
22%
226s
23%
57
57%
57%
33%
33
333S
•28
40
.
v»77
*12"
♦II"
•10% 11
•98% 98®4
10212 103
•29
2934
,10538 105i2
,
9S78
99%
10284 104
29%
29%
105% 10534
22% 22%
*5634 60
327, ,33%
22l2
2284
*54
22l2
*55
58
32%
58
32i4
33%
*29
40
12
12
~12% "l3*'4
131,
99
9834 99%
101% 102
2934 29»4
99
987S
.
*31
ld212
102
22
227g
*56%
33*4
31%
42
*30
700
38
100
126
760
22
"41900
58
200
32%
40
1384
13%
99
97%
9834
10538 10538
100% 102
29*4 2914
105% 105% ♦10434 105U
100% 101
*29% 2978
105
105%
1087g 110%
11378 114l8
113% 1137,
2918
29l2
"
109ia 110
11384 11378
110
11078
1137s 114%
10934 11034
114
114l8
•89
91
♦88
94
*89i4
•95
115
*95
115
♦95
1618s 162
1623s 163
•80
90
*80
90
*80
•88
90
•881*
173s
90
*88
1738
29l2
17%
29
•4la
29i4
5
16l2
634
2814
•14
•6l4
•27
67
17%
2978
2834
5
271*
661*
67
7
•
*14
19
93i4
93%
237g
*78%
9334
243s
41%
927S
23l2
78
78
*80
90
*80
8912
17l2
29lg
458
161?
6lg
*88
89l2
88%
17%
17
29
28
80
235s
.78
*15ia
17%
28%
5
45s
•14
7
6%
67i4
19i2
42l2
9338
24l4
78l4
16U
36i8
1214
19
115
90
27l2
42l4
*100
*80
27
1734
115
91
*88
17l2
29%
6714
41
*95
109%
9i
2712
18
115
109
*89
91
66l2
4114
•95
1087s 10938
1137, 114
♦897, 94
158% 159%
1612
•17
91
15834 1601S
*6%
•403#
927g
2312
90
1587S 1605s
*4i2
161s
*6
115
*159% 16078
1734
*4%
♦14
90
•25
27
♦651*
70
19%,
4234
9234
2334
78ia
171,
28*2
4
4l2
•14
16%
•14
6%
6
6
26%
667,
19%
42%
91%
26%
534
•2512
h
*4%
27
68
68
20
19
4312
425,
935,
24i4
915,
19U
43%
93%
23l2
24
785s
78
78
23%
♦78
'"ioo
88%
17%
28%
19%
42%
92%
37
♦10
"
18
*7
♦14
*7
8%
•45
50
♦44
*13
18
.812
50
17
*7
17
•7
81*
50
♦461s
17
•17
50
•17
*7
9
♦7
♦45
50
46
8l2
♦44
22
68%
*46%
69%
701s
705g
69
71
691,
48
*46%
50
47
47
*45
48
♦91
*4512
95
*91
7034
47U
95
*91
95
*91
95
♦91
94
26
70%
26
•70
26%
75
♦70
71%
277,
80
27
2634
♦70
27%
80
*70
3234 33%
33%
34%
3234 33l2
93% 93%
93%
9334
93U
935s
45
44% 44%
45
45%
4534
*110
•110% 11284
11234 *11014 11234
•357, 37% *357, 37%
371* 3712
*65
69
♦65
69
*65
6612
39
39
*37% 38%
38%
39i8
•93
97
*92
95
*92% 98
*4
4%
4%
4%
*334
414
22
*21
23
*21la
♦23%
24
24
24%
9
-9
9
9%
25
25
♦24
26%
3184
•100
*7%
•47
31%
32
31%
*100
102
102
'
8%
*71«
23ls
9
♦241*
32
*100
4514
8%
»7lj
*92
Jan 11
J'ne25
92% Apr 10
J'ne 10
95
10% J'ne
15%
101%
13734
7934
16
J'ne 11
J'ne 11
2
J'ne 11
4
26%
"3",850
*70
33
31%
92%
44%,
45
*112
75
3234
927,
4434
113
66
66
6534
657,
42%
40
41
23
23ig
9
9
251*
25i2
323s
*33%
98
*92
37%
2234
*8%
23%
9%
26
25
25
32
32
*31
32
♦100
102
*7*2
8%
8
8
48%
*47
60
•47
50
•47
60
*47
81
50
•8018
88l4
•80%
65
81%
•99% 10034 ♦100
101
8H4
63%
*80l4
63i4
8U8
6358
*80
64
•99
♦27%
101
29
*27%
100i4 IOOI4
64
63
10034 10034 ♦100
627,
63
ion2 *100% 101%
159
*157
160
159
159
*158
159
♦157
102
*99
159
101
*99
101
*99
102
*99
101
29
28
28
*27
29
*27
29
29
♦2712
J'no 10
22%
17
200
American
27
J'ne 10
100 " J'ne 18
7% J'ne
4
451, J'neio
79% J'no 12
58% J'ne 10
97
Snuff
60
Feb
2
J'ne
Mch
54% Dec
J'ly
90
467, Jan 31
129% Jan 30
66% Jan 2
117
4834
78%
673,
9634
6%
Mch
6
Jan
Jan
Jan
6
Nov
11% Feb
905, Feb
49
Feb
115
Feb
3034 Oct
75% Aug
45% Jan
2
2
Jan 10
95
Jan 8
28% Feb 10
20
Feb
4
18
Jan
Jan 31
Jan 31
Jan 6
10634 Jan 2
9
2734
11%
31%
44%
13
Apr
Jan
3
Feb
Mch
30
Feb
3134 Feb
103
Jan
Jan
3
61% Jan
3
42
Jan
Jan
9
84
Deo
86
7484 Jan 30
6
107
Feb
Jan 22
Jan 21
150
J'ly
9
193
preferred, new...
100
J'ne
6
105
Amer Steel Found (new).
25
J'ne
9
Do
""216
J'ne 10
67, J'ne 10
20% J'ne 10
540
preferred
2,500 American Locomotive
Do
100
preferred..
200 American Malt Corp..—
Do
100
preferred..
200 Amer Smelters Sec pref B
7,350 Amer Smelting & Refin'g
Do
200
preferred..
Jan
Feb
46% Deo
15% J'ne 10
IOO84 10034
6
48
6
93% J'ne 17
3% J'ly 9
Do
3
2
300
9%
Jan
68% Apr 23
86
""366
26
Jan
60% Jan
J'ne 11
4
223,
Jan
98
22
81
♦148
*99
preferred
Deo
4
11
80% Jan
33% J'ne 12
American Hide & Leather
Do
preferred..
3,220 American Ice Securities
1,200 American Linseed.
45
3
3
4
48%
160
Do
96
2
Jan
14
33% J'ly 2
60% J'ne 28
...
Jan
8
28% Jan 13
2
22
81
•157
Do
J'ly
J'ly
334 J'ne
123, j'ne
Jan
108
4,360 American Cotton Oil..
28
Jan
80% J'ne 10
36% Jtneio
preferred..
Cities........
preferred
88% Oct
57
3
67
4
812
6234
300
Do
J'ne
Deo
15034 Deo
99
21
American
28
103
J'ne 23
23
60
63%
100
Dec
92% J'no 3
19% J'ne 10
72% May20
4
63%
•80%
61,260 American Can...
Do
preferred.
3,905
2,950 American Car & Foundry
200
J'ne 11
61% J'ne 10
American Beet Sugar.
Do
preferred
Feb
Dec
46
l
7% May 5
40% J'no 11
£44
9
Jan 9
Jan 23
Jan 6
Jah 6
Jan 3
Jan 2
13% Jan 14
8
J'ne 10
•20
♦8*2
102
*712
90,900 Amalgamated Copper
400 American Agricul Chem.
Do
preferred
93
'
8
95
401,
4
32
70%
41
♦92
13
Wisconsin Central
Industrial
&
Miscell.
Jan
13
18
4434
103%
26%
68%
20%
Deo
Jan
Feb
Jan
33% Dec
10% Deo
2
81% Mch 26
22% Jan 8
40% Jan
2
'
30
6% J'ly
•
Jan 30
28% Jan
Deo
2934 Jan
68% Jan
9
2034 Apr 1
48% Jan 29
2934
108%
162s4
93%
35%
63%
37, May
preferred
2d preferred
45
J'ne 4
J'ne 6
J'ne 11
J!neio
Feb 11
Jan 11
35% Jan 13
4
277, J'ne 10
7% J'ly
9
69
29
Dec
Jan
Jan
Jan
J'ne
22% Dec
42% Dec
17% Dec
68% Dec
26% Deo
_
110
J'ne
92
247, Feb
4484 Jan
19»4 Jan 11
J'ne 12
Dec
88
Apr 10
Jan
Dec
1197,
98%
108%
148%
87%
2f
J'ne 10
84
75
Feb
146
126
.
86
J'ne 12
129
1153, Jan
100
1687, Jan
Dec
297, J'ne
110734 Feb
Feb 13
104
J'ne 25
Jan
25% Dec
573, May
35
J'ly
621, Oct
26% Oct
106% Dec
_
100
32
22% May
56
May
11% Jan
Mch
87
Jan
1287, Dec
18% J'ly
540
Feb
122% Jan
12384 Jan
89% J'ne 11
19% J'ne 12
72
J'nelO
1st
693,
37%
98
♦100
""ioo
371,
2212
Do
8%
46
37%
66I4
*334
22la
Do
45
25%
115
100
13
Jan
36
138
Jan
Jan 30
Jan 10
Jan 11
113%Jan 3
11
J'ne 10
38
9,400 Southern v tr ctfs stmpd.
Do
900
preferred
do
•91
27 "
75
321,
9234
447,
*112
112
3934
23U
914
26i2
32%
,
93lg
4512
*34
2634
♦70
3338
112
23
102
75
317#
93
*65
.
22
275g
20
59
126
1557, Feb
27%
109»4
1297,
337,
11
Dec
30
1067, J'ne, 4
86% J'ne 10
•
•14
•
17
Dec
38
16% Dec
633, Jan
142% Jan
Jan
29% Jan
64% Apr
43% Jan
14% J'ne 10
.....
78%
10
25
Dec
120% May
Jan
47
J'ne 10
65
17
16%
16i2
•16
•16
17
1614
17
800 Texas & Pacific
*1534
I684
36%
3678
3534
36
34
35i4 35i4 *35
3334
2,300 Third Avenue (N Y)_
1234
115S
♦11
1214
♦11%
1234
*11
12l2
1258
500 Toledo St L & Western
1234
*21
23l2
23
*22
23i2 24
22l2
*21
245s
Do
241,, 24*4
900
preferred
24%
105
104l2 104l2 ♦104
*10312 10534 ♦10312 10534 ♦103
10534 *103% 10534
100 Twin City4 Rapid Transit
1487S 1495s 14934 151
14834 14978
14734 14958 1481, 1495g 147% 148% 146,050 Union Pacific
*84
84% *84
84
84
84%
58334 8334 ♦837s 84%
Do
406
837, 84
preferred
23
24
25
23%
•22l2 24
24
*21
22ia 24
*2H2
24
1,100 United Rys Inv't of S F
42
42
43
45
43
43
•43
45
Do
4212 42l2 *41%
43
preferred
1,150
*2 5s
•25s
234
234
234
2«4
234
21*
*2%
27S
500 Wabash
*234
i
27,
7
*634
678
*7
7i«
7
734
7%
Do
71,
7%
7%
preferred
7%
2,450
*40
41
40
40
40l8
40%
4014 40i4 •391, 41
540
40
650 Western
Maryland
*5
612
*5
6
5%
•5
514
6
*5
♦5
6%
100 Wheeling & Lake Erie.—
6%
•36
Jan
Jan
Feb
Jan
6% J'ne 17
J'ne 4
49,500 Southern Pacific Co
24
1683,
142%
132%
23%
26
...
-
Jan
12% J'ne 10
2078 J'neio
234 J'ne 17
13
J'ne 28
St Louis Southwestern..
Do
700
preferred
2,800 Seaboard Air Line
Do
preferred
4,060
14
30
47% Dec
Jan 30
35
J'ne 12
151% J'ne 10
*
Jan 10
J'ne 11 5150
82% Mch 17
10134 J'ne 10
600
67
9
J'ne 11
98
...
preferred
5
2
_
J'ne
25% J'ne
35
J'ly
9
J'ly
95% J'ly
99% J'ne
25% J'ne
7,903 Rock Island Company-Do
6,930
preferred
1,830 St I^oius & San Francisco
Do
1st preferred
Do
2d preferred
'"565
4%
16%
4
62
Reading
2d
J'ne
J'ne 11
18% J'ne 10
1st preferred
90
4
32
....
184,165
123, J'ne
18% J'ly
34% J'ne
8
Sep
Jan
9
Jan
3
Feb 5
Jan 30
653,Jan 30
28% J'ly 28
61% Jan
7
11% Feb 5
115% J'ne 11
13,680 Pennsylvania
200 Pittsb Cin Chic & St L
Do
preferred
Deo
Aug
9
132%
41%
1287,
19%
1
Dec
162
530
41
May
45% Dec
8
10
10
Feb
Jan 13
10
133
preferred
Jan
8% Jan
2
16% Jan
2
6
32% Jan
49% Jan 30
12
11,150 Missouri Pacific
Nat Rys of Mex 1st pref.
Nov
95
41
2034 J'ly 23
141% j'ne 10
126% J'ne 11
Do
pref
Minn St P & S S Marie..
Do
preferred
Missouri Kan & Teias
188
9
Jan 30
4
7
_
6
Jan 21
Jan
11
127
& St Louis.
Jan
Jan 16
9
J'ne
56
Louisville & Nashville
Manhattan Elevated
Jan 11
Dec
Dec
J'ly
Dec
Dec
9
Jan
J'ne 11
45
...
Jan
68%
15%
30%
99%
139%
134%
J'ly
J'ne
J'ne
J'ne
J'ne
J'ne
Apr
10
Mch
305
2
23% Jan
10
Feb
Aug
Jan
Jan 13
177, Jan
445
Jan
Dec
Jan
5
21% J'ne
__
Do
2d preferred
1,900
6,400 N Y Central & H R
9,800 NYNH & Hartford
1,100 N Y Ontario & Western.
3,350 Norfolk & Western..
Do adjustment pref..
12,930 Northern Pacific
87
Highest
103% Feb
1013,
zl3034
rl01%
86%
7634
220%
10
10
104%
pref
Kansa City Southern.._
Do
"pref.
Lake Erie & Western
Do
J'ne 12
20%
33%
28%
115%
25%
t ctf.
pref..
35
23
Do
""600 Minneapolis
15%
12
v
J'ne 10
133, J'ne 11
Iron Ore properties
Il-inois Central
Interboro-Metrcp
80
390
17*335 Lehigh Valley
■
57
Delaware & Hudson
Delaware Lack & West..
Do
145'
*140
145
300
132
126
12512 126% §126l2 12612
148
60
149% 150%
133% 133%
147,
♦140
148
10,750
16,710
4,325
7,100
5,000
23
*126
pref.
_
46%
125% 12534
35
35%
104% 106
15%
15%
58
57%
27
27%
*7%
50
*142
12
362
98% J'ne 10
116%
145
132% J'ne 12
138
123% J'ne 10
181
May23 5189
May
64
38% Aug 1
90
Apr 11
9434
167
147% J'ne 11
Denver & Rio Grande
Do pref
850
Duluth So Shore & Atlan
Do pref
56,200 Erie
Do
1st preferred.
11,400
Do
2d preferred
1,700
6,705 Great Northern pref
32%
6%
*10%
285s
2712
•59l2
91*
*125
*5
12
J'ne 11
23
Jan 6
Jan 29
Jan 9
Jan 22
Jan
88
51% J'ly 11
10% J'ne 4
275
"400
20
2878
45l2
14934 15114
1335s 134
127l8 127% *126% 127
150
22
1
1503s 15H4
395
*1884
532%
15l2
*38
•3912 45
126l2 126l2
•140
132
15%
22
32
6l2
35
355,
10434 IO6I4
1512
155g
58i8
5858
27% 2734
8%
*16
3U2
*10%
l?53s 126
35
S514
105t8 1135g
1534 157g
60
8l2
22
36
20
120
159
*385
395
20
*5
6l2
12
•1018
28U
447j
28i4
4434
3534
126l2
3612
1137B
1534
69%
27%
43
32
*5
12
27%
2012
3112
6%
*10
12
*18
157l4 15714 *156
*385
Lowest
9234 May2 6
26634 Jan
9
9
208% J'ly
& Ohio
700 Chicago Gt West tr ctfs
Do
1,700
pref trust ctfs
10,400 Chicago Milw & St Paul.
Do
400
pref
1,350 Chicago & North Western
Do
pref
""iOO Cleve Cln Chic & St L.__
182
38*4
1063,
102%
133%
1063,
J'ne 11
90% J'ne 10
77% J'ne 18
x8334 J'ne 10
...
33~920 Chesapeake
Previous
Year 1912.
Highest
927, J''no 12
96
J'ly 9
112
pref
Rapid Transit27,770 Canadian Pacific.
Central of New Jersey...
*280
55
6684
Range for
of 100-sta/r lots
_
8,572 Brooklyn
88is
21414 21514
875,
*280
65%
Railroads
t
Do
81
*78
82
88I4
8734
21434 2167g
*280
...
5534
•80
,
10,050 Atchison Topeka & SF..
Do
,800
pref
1,300 Atlantic Coast Line RR_
5,950 Baltimore & Ohio
9784
961, 97i8
977, 98i2
98i4 98%
120
12014 120U *119
991* 9912 *955, 98
*97
9914
99
1207jj
9834 9914
*80l2 82
87«4 88I4
2161* 21714
99
82
88
88%
216'4 218
21778 21834
•280
985j
*9778
120
98%
*80%
82
88i4
.
53%
99%
98i4
11912 1207S
985s 99
120
basis
Lowest
A
99
On
Shares
*
page
Range Since Jan. 1
STOCKS
_
NEW YORK STOCK
EXCHANGE
the
Saturday
July 26
preceding
see
40% Feb
7
434 Jan
66% Deo
102% Jan
123
3
Mch
99
Feb
26
Jan
BANKS AND TRUST COMPANIES—BROKERS'
QUOTATIONS.
Banks
Bid
Ask
560
570
221
226
New York
:
s
Bowery^
120
130
425
[
I
.
.
Bid
Ask
Banks
Chat A Phen.
Chelsea ExT-
165
175
Fidel ityT—..
147
153
Chemical
...
210
225
645
Corn Exch L
Cosmopol'n 1]
East
t Sal. at Stock
River
at*aS?toa
450
275
300
305
85
225
Mutual f
Nassau
290
As*
Banks
Bid
325
175
185
195
200
615
630
New NethT..
Security 1
115
Liberty
210
225
Sherman
180
Lincoln
330
350
135
New York Co
850
875
Statet
395
405
.......
175
«•»«*»
Irving
275
Seaboard
430
Second
385
....
t
325
137"
143
Mark A Fult.
230
240
Pacific
255
265
400
415
Mech A Met.
230
240
23d Ward T—
Union Exch.
145
Park
358
363
Wash H'ts
3-
275
Av^_
160
Side 1_
Yorkville 1—
450
450
Gotham
....
170
105
Greenwich T-
250
80
Hanover....
635
Manhattan
475
mmm
-
■mmmm
645
New York
1
Merch Exch.
150
155
People's 1
225
240
Westch
Merchants'..
175
185
Prod Exch T_
160
170
West
Metropolis TMetropol'n 1
325
350
Public^
250
290
180
190
Reserve.....
87
90
At*
I20"
240"
German Ex 1
....
335
250
Germ-Amer t
GermanlaT—
315
Bid
Mt Morris 7.
505
990
Garfield
1175
Banks
295
170
Fourth
165
Columbia T
Commerce
Ask
285
495
Banks
950
175
350
160
135
Bid
Harrlman
Imp A Trad.
First
170
345
195
640
395
Ask
(
Citizens' Cen
120
150
385
Bid
165
Fifth Ave t.. 4300
Fifth
300
City
Coal A IronColonial T
180
.
.
.
300
Banks
' ** U%
175"
690
m"
mmm«
176
600*
m'
aug. 2
1913.]
New York Stock
Record—Concluded—Page 2
r°r record or sales during the week or
stocics usuany inactive,
STOCKS—HIGHEST
Saturday
Monday
July 26
July 28
AND
LOWEST
Tuesday
SALE
Vednesday
July 29
PRICES
Thursday
July 31
July 30
see second
Sales of
the
NEW YORK STOCK
Week
EXCHANGE
Friday
Aug 1
STOCKS
Range
On
283
page preceding.
Since
basis
Jan.
Lowest
Shares
1
of \6Q-share
Range
lots
for
Previous
Year 1912
Highest
Lowest
Highest
Industrial & Misc (Con)
111
*10912 11h2
112
116% *112
II6I4 *112
*112
*109% 112l2 *10912 11212 *109l2 11212 *109
115
*112
*112
116
116
12712 12734
12778 12834
12812 128%
|222
222
222
222
224
223
*97
100
*96
100
§98%
16%
*75%
98%
9934
*98l2
16%
7 684
*16
20
*16
*75l2
7634
76
•23
25
*23
25
358s
363s
8812
88%
127«8 127l2
20
*1612
•7612
23«4
20
*75i2
76*4
35%
•89
*42
2334
3514
{24%
7634
24l2
357S
363s
90
*89
4334
*38l2
90l2
435s
♦103i8 l03i2
34
3412
3412
72l4
72l2
72l2
103
103
34
72
♦125
129
•126
27
•2512
•2512
19l4
4912
98i2
24i4
92l2
3734
19%
491s
•91
24%
92l8
373s
31*4
68
•9412
13«4
96
5014
24l8
3778
32
132
Ids
10%
2034
*92
|13212 13212
3534
36%
89
89
43
43
•43
10%
14
*112
*218
44
230
*218
72i4
*2512
1984
4984
9812
24l2
{98
93
*92
*127
129
{27
27
27
20%
4934
98%
24
99l2
*9812 100
•140
20
♦16
20
100 American
76
♦75
77
100
2312
2412
♦23
25
35l2
36
35%
*86%
3534
89%
*87
90
'44
44
2334
19l8
*126
44
*
52
*91
98%
*91
233g
23%
923g
92%
38
3678
32
2912
131% 132
10%
1034
*6512 67i4
9478
9478
15
14l2
93
3878
3214
3734
385fs
*3114
32
♦131l2 132
11
1058
11
673s
6612
6612
95
9478
9478
•14
14l2
151?
23l8
*92
"33%
72%
27
130
*25%
18%
1912
63
48
98
*91
2312
37lg
38
3084
3114
131% 131l2
10l2
10l2
♦65
6712
9458
94%
♦94%
*13
14l2
14
14
*10
15
*10
14
*11
14
*11
14
40
*33%
38
38
*33l2
38
♦34
38
140
141
*139
141
•28
14012
3212
*33l2
*13912
•73
77
•27
29
91
91
44
44l2
1514
1514
107
140
3034
*90
92
44i8
15%
107
3034
45
1514
10712 1093S
140
32
•
30l2
•90
*29
32
♦29
33
77
•73
77
*73%
77
30%
*30
31
305g
30l8
92
4418
1514
108
♦139
141
32
*90
45
4414
1514
15
107"
110
90
90%
445s
*1478
4458
445s
108
"
§108
'""466
15
108
*9
•39
*612
•23i2
*80
•102
*102
"63
*60
•965s
98
•32
40
*102
*59
97>8
*32
♦102
♦102
67*
*62
67"
*62
67
97%'
*95
98
*97
98
40
*33
40
*33
♦62
97%
40
67
*62
67"
97%
*97
98
40
*32
40
98
•95
100
*95
98
*95
98
*95
100
♦95
*94
216
215
*210
215
♦210
217
♦210
217
♦210
*210
112
109
•107 > 112
♦108
29
109l2 109% *108
29% *26
112
•25
*26
29
*25
•95
100
*95
100
100
*95
29%
96i8
95l8
"""50
109
♦26%
*
200
100
108
29%
ii2"
300
29%
95%
"266
♦26%
95%
100
*86
•156"
*156"
10712 10712 *107
*66
*67% 70U
"58"
23
•118
.•
233s
.
119
133s
23
118
•11512 11912
1312
♦106
61%
23%
• H9i4
*117
1334
117%
1334
•78
82
*78
82
*48
49%
♦48
49%
•67u
100
100
~60~
•68
67
*09
70
*20
22
*78
493s
,
18l2
82l4
2438
*95
100
1163
153
26l4
•91
97
I8I4
243i
60%
•173
,
•30
16
67
68
100
*19
22
21
21
2178
30
20%
20%
400 Pacific
29U *2812 30
115
115i2 llclg ♦113
19
19
19
18%
♦2034
♦28%
♦113
67
26l2
•82
85
25
♦24%
25
96
*94
99
155
27
97
1878
25%
303s
♦104%
5%
04
111
6%
26i2
•2358
13
13
49
*47%
50
61l2
61
61
61
605s
61
*104
105
"68%
10714 107%
107% 108
48% 4884
4714
26I4
4734
26%
102
2614
59~78
26*4
*98% 103
64U
64l4
{66
6218
63
62®4
•108
115
*108
•90
92
92l2
•109
24
2478
853s
19
,
42i8
♦173
175
172
25
28
28
34
2384
•81
20
3934
42l2
170
28
*27%
3314
*32
6214
24%
86%
*22%
♦60
♦22%
86
♦82
*85
170
34
24
94
40
29
57
♦85
39
305(5
3H4
110
♦85
94
*85
*104
60
6012
105
60
60i8
*104
10914 *109
66
64
115
9214
68%
~59h
"58«4
59"78
108l8 10814
48
48«4
108% 108%
•25
27
♦25
27
9978
67l2
6334
•98
103
99%
•65
633s
♦109
115
47
48%
6378
♦109
~64%
115
♦109
91
92
90
91
90
109%, *110
114
♦110
114
♦110
*64
115
115
♦109
89
90%
114
90%
;
preferred...!
Do
Sep
89%
105%
55%
10834
Oct
Oct
Oct
Sep
Jan !
225
Oct
2978 J'ne
7
91
J'ne
4
104% Jan
195
J'ne
6
235
J'ne 11
4978 Feb
Mch
Jl._
preferred
_
Sears, Roebuck & Co..!!
Sloss-Sheffield Steel & Ir
Do
Milling
preferred
(The).!
preferred
Bag & Paper.....
Do
preferred
116% Jan 23
8978Jj,n
6
97% J'ne 10
55
J'ly 18
105%
78%
20% J'ne 10
J'ne 11
26% Jan
128%Jan
12478 Jan
19% Jan 30
92% Jan 30
66% Jan
2
107% Jan 27
116
J'ne
4
9
J'ne
5
75
May29
44
J'ne
9
100
J'ne
6
__
Do
1st
preferred
2d preferred....
150 Western Union
Teleg
3,900 Westing^ouse El & Mfg.
Do
1st preferred..
2~400 Wool worth (F W)......
Do
preferred
73
J'ne 11
18% J'ne 10
88% J'ne 10
109
J'ly 11
9
8
90
Jan 28
Jan 22
Jan
2
Jan
Feb
167
„
......
4
95
Jan
36
Jan
101% Jan
Jan
9
100
Jan
13
22
Jan
2
17
J'ne 10
72
J'ne 11
28'8Jan 31
89% Feb
1
2
92% Jan
7
9984 Jan
4
213% Jan
2
45% J;m 28
40% Jan 31
39% J'ne
J'ly
93
J'ne
68% J'ne
53% J'ne
Jan 21
7% Jan
3
4184 Jan
3
I684 Jan 30
6684 Jan 31
77
Jan
9
69% Apr 4
IO984 Apr 9
81% Jan
9
2
69% Jan
IIO84 Jan 30
10
60% Jan
2
1
43% Jan
3
22
30
10
10
10778 J'ne 13
81% J'ne 20
109
J'ne 14
Oct
96%
68%
1107,
$24%
Jan
Oct
Nov
Sep
85
Nov
Feb
114
Jan
3
75% Jan
9
79% Jan
2
II984 Jan 17
Jan
2
115% Jan
8
112
Feb
60
877g Aug
Sep"
553g Apr
122% Oct
27% Aug
10034 Aug
407g Sep
10334 Aug
1207g Aug
175
Aug
4034 Sep ;
38
Dec,
45
Jan
Feb
Feb
10634 Feb
158% Feb
27% Feb
98% Dec
105
Jan
$16
140
Jan
35
Jan
Dec
45g Jan
Feb
60
Jan
67
Jan
45% Feb
1056? J'ly
75
Jan
68% Feb
Dec
Jan
107%
$52%
4O84
1147„
71*4
66%
Deo
66
Oct,
Aug
Aug
May
Sep
j'ne
Sep
May
May
May
Oct
J'ly
May
116
May
86% May
8034 Sep
85% Deo
13
36
49%
98%
$47%
130%
11534
114%
177S
6734
22%
64*g
86%
677g
$34% Feb
J'ne
Nov
6934 Sep
Jan
95
Nov
103% Oct
221
J'ly
90% J'ne
110
Oct
933g Oct
101
39% Jan
16% Jan
81
Aug"
$24% Sep
1534 Feb
64% Feb
89% Deo
99% Dec
53
113
76% Jan
3
4978 J'ne 11
J'ne
26
30
J'ne 10
102% J'ne 10
Apr
131
6
J'ly 10
J'ne 10
161
Deo
12% Feb
4
78
98
Deo
122
Feb
36
104
J'ne 10
114
6678 Feb
93% Jan 13
39% Jan
4
12284 Jan 10
99% Jan
3
53
90% Oct
$30% Sep
77
J'ne 10
9% J'ne 10
Jan
6234 Apr
$23% Feb
2834 Feb
15
J'ne 25
Oct
112
96
_
Aug
88
Dec
1634 Mch
22% J'ne 11
90% J'ne 10
35
118
105
103
24% Jan
215% Oct
Apr
74% Jan
2884 Deo
Jan 21
4% J'ne 11
Mch
69
2
Jan
J'ne 10
J'ly
8
81% Jan 14
31% Jan 22
Jan
Aug
47% J'ly
1058g NOV
9284 Oct
10734 Jan
88
117
Sep
$67% Sep
Dec
Dec
Deo
57% Jan
122
Mch
86% Jan
89% Aug
126
Aug
ll77g Oot
11634 J'ly
Jan
1147g Jan
112% J'ly
93% J'ly
BANKS AND TRUST COMPANIES—BANKERS' QUOTATIONS.
Banks
Bid
Ask
Banks
Bid
Ask
Trust Co's
Brooklyn
Coney Isl'd ^
135
155
275
285
Central Trust
300
National City
North Side!.
175
200
Columbla-
145
People's
145
155
First
280
Flatbush
...
135
Green point..
HlllaldeU.
_
Mechanics'!.
Montauk f._
Nassau
www
Stock
.....
....
125
85
100
400
425
mmmwm
205
ExSanve^S
ivxcnange oc
Bid
Ask
985
1000
570
580
88
92
N Y City
155
«...
Homestead T
M&nufact'rs
Brooklyn
Tru8t Co'a
NY
Empire
.
.....
Equitable Tr.
3O0
310
470
480
NY City
Astor
345
S55
205
215
140
Bankers'
Tr.
425
435
Fulton
290
315
220
B'way Trust.
150
160
Guaranty Tr.
532
542
185
at aucUon
....
Fidelity.
Ask
Bid
Ask
Trust Co's
Bid
At*
N Y Life & Tr 1000
Trust Co's
1020
Brooklyn
Brooklyn Tr
470
490
145
NY City
133
165
175
N Y Trust...
605
615
Citizens'
Lincoln Trust
120
130
Title Gu A Tr
418
425
Franklin
Metropolitan
410
425
Transatlantic
200
220
Hamilton
Union Trust.
375
390
USMtg ATr
440
455
United States 1090
1110
350
365
145
155
Mutual Alli¬
1130
ance
Mut'l
Farm L & Tr tiooo
Bid
City
Law T I A Tr
Knickerl
Commercial
Trust Co's
Hudson
(West¬
chester)...
140
150
Washington
Westchester
_
.
...
155
240
270'
285
Home
108
118
Kings County
530
Nassau
130
...
.....
People's
Queens Co
^1. J
*00 shares. $ Ex-rights, a Ex-div. and rights. 6 New stock. & Quoted dollars
thls-week, _s Ex-stock dlYidend,
Banks marked withAP«waph_(^)_.ar« Stat« bauk*._« Ek-dMdcnd.
....
per
•
.
118
102% Oct
51% Jan
105% Feb
$18% Jan
165
89
Mch
Dec
Jan
Jan
Dec
Jan
118
14% J'ly 15
36
J'ly
1
154% J'ne 12
23
J'ly
8
3178 Apr 26
52% May l
2184 J'ne 12
82% J'ne 17
*2684 J'ne 10
29
102%
156%
105%
36%
95 i Jan
J'ne 10
152
44% J'ne 6
59% J'ne 11
100 U S Realty &
Improv't
2,199 United States Rubber
•
9
14% J'ne 11
22
Fdy
„
6
7678
,
...
preferred.....
Do
100
"
71
100
Jan
200 U S Cast Iron
Pipe &
210
Do
preferred
114
•109
Feb
Jan
110
Jan
Do
6384
Oct
81
102
46
Underwood Typewriter
68
62%
637g
109
9
116
60%
67
63%
Dec
J'ne
J'ne 10
J'ne 10
108% 109
*62
•65
107
58
J'ne 11
58%
6934 290,900 United States Steel!!!!!
Do preferred
2,565
»108% 10834
48
24,800 dUtah Copper...Par $10
47%. 48%
47%
240 Virginia-Carolina
*25
26%
§25%
25%
Chem.
Do
*99
♦99
103
103
100
preferred
59%
Jau
Jan
97
23
500 Union
200
84% Apf
9534 Oct'
104
Do
preferred.
13,850 dTennessee Cop
Par $25
1,114 Texas Company (The)..
104%
84
Dec
J'ne 10
115
60
104% *104
1043(5
105
60
60%
Dec
Deo
16
,100 Studebaker Corp
r-
60i8
12
63
90
82% Jan
Do
Mch
1934 May
627g May
Feb
Feb 20
......
77g Mch
26
Jan
66
Telep & Teleg
People's G L & C (Ctiic).
Pittsburgh Coal
Mch
4
1534 J'ly
93g Jan
a?4578 Jan
94
116%
Mail
Sep
70
20
500 Standard
94
5
$16% Dec
105% Feb
J'ne 11
J'ne
Rumely Co (M)
♦104U 111
♦104% HI
*104% 111
♦104% 111
6
5%
6%
*5U
6%
5%
514
514
*25
•25
25%
25%
26%
2612 *25
26i2
*11
•11
13
14
13
1234
1234 •11
48
48
♦48
50
*48
60
*47»4 60
62
•5934 6134 *59% 6H2 *61
*61%
62%
May
~
Sep
Sep
j'ne
Oct
22% J'ne 13
J'ly 16
910
*10584110
J'ne 12
J'ne 10
960
24%
*82
■86%
30%
307g
Mayl2
13
4,900 Republic Iron & Steel
60%
111
20% Jan
115% Jan 30
J'ly 29
113% J'ly 10
10884"J'ly 29
113% May 7
4% Jan
2
19% Jan
7
12% Jan 30
48% Jan 30
18% Jan
9
81
109%
r$623g
$21%
1267g
110
60
Pullman Company
1,650 Railway Steel Spring....
Do
preferred
10,900 dRay Cons CopperPar$10
•
'
31%
10712 ♦106
94
60%
J'ne 10
56
225
550
96
__
600
34
Dec
104
1,375 Pressed Steel Car
41
Do
preferred
100 Pub Serv Corp of N
18%
2278
86%
19
*16%
19
40°
175
{57
♦105
86%
86
♦32
*22%
♦81%
30%
307a
24%
*27
62
107
97
♦170
2334
107
26
18%
22%
283S
174
3278
86
30%
24%
8534
26
*90
Dec
$47
North American Co (new)
Do
"58% "6884
•98
18%
853,
26i2
13%
104
97
18%
2378
86%
*16l2
41
3078
26%
♦91
19
*1612
86
263a
261.4
97
41
107
§153% 16312 §152% 152%
183s
2378
85l2
*16%
*3934
*57
*85
156
♦90
100
600
19%
85
24%
105
53% Jan
J'ne 10
100 Pacific
30
*16
110
19
20
*28
x05% Jan
103
.
*111% 114
195g
97
62
107
115
*16
83
83
•80%
24l2
24% *24
*94
99
*9414
99
*10712 110
*107% 110
26%
263S
•
18%
24
*84
*60
263(i
87
27
♦154
155
*90
*21
2934
30U
IO6I2 108
104
155
*56
♦81
•593|
85
25
{96
33t8
64
49
*80
*30
86
19%
25
83l2
*113
115
100
175i2 175%
24
30
*28%
*18
10914 109% ♦10712 110l2 *107%
•81
»11
'
2484
*22
•2358
'
83
22"
J'ne 10
4034 J'ly 11
14% J'ly 12
103% Apr 25
60% Dec
105
4,070|dNevada Cons Cop Par $5
100; New York Air Brake.
16%
Feb
25% J'ne 10
11% Feb
37% Jan
70% May
200
preferred
500,National Lead
2701
Do
preferred.^..
68
33%
6i2
49
16
*60
27 '
111
*48
1065s 1065s *105% 107%
82
16
33i8
•5
49
49% 49%
106% 106%
1584 I6I4
70
*55
•104U
49
49l2
Jan
30
J'ne 13
100
—Do
67
30
93
82
*69
§86%
*16l2
*38%
17412
*26
•78
*60
*90
20
80
♦78
155
9478 J'ne 10
84
J'ly 18
Enamel'g & Stamp'g
70
25
41
80
82
700 Nat
Jan
xl50
$5
Deo
34% Jan
Jan
68
Jan
21
1,010 National Biscuit
100
Do
preferred
67
2514
•I6I2
•3812
60%
20
79
106% J'ly 22
preferred
5,100 Mexican Petroleum
3,440 tfMiami Copper.Par
Jan
Dec
187
107% Jan 22
Do
100
*69
185s
87
100
10
75
Oct
100% Oet
$603g Nov
4334 Sep
149% Aug
22% Oct
89% Oct
100% Deo
36% Aug
2134 Sep
6234 Sep
188% J'ly
427g Sep
8234 Sep
99% Dec
MaylS
May
83
May Department Stores.
*60
1812
•86
*
200
.
12934 J'ne 10
6 '
preferred
70
*153
*26
100
100
63
•96
•10712 110l2
♦
100
Do
Feb
Jan
Jan 22
36
preferred
63
*20%
29U
116
I8I2
8214
24l<
....
Do
Loose-Wiles Bis tr co ctfs
Dp
1st preferred
Do
2d preferred.....
Lorillard Co (P)
80
23% Feb
13584 Deo
Jan
278 J'ne 10
4
7% J'ne 10
Liggett & Myers Tobacco
Dec
$25
Mch
Jan
Feb
Jan
Jan 31
Jan 31
Jan 16
Jan 2
May
127% Oct
6034 Aug
108% J'ne
51% Oct
80
Sep
149
Aug
40% Apr
72% Oct
95% Oct
101% Deo
33% Sep
9978 Dec
16% Feb
Feb
18
12% J'ne
preferred
Lackawanna Steel..^
Laclede Gas (St L) com..
Nov
44
_
$48
49% Dec
Mch 19
95% J'ne 10
111
May 12
Do
28
84
Feb
J'ne 10
89
preferred
*69
*58
31
•281i
•114
-
*156
59%
60
6878
69%
2278
23
r22%
2234 23
22%
117
118% 118%
118% 11878 11878
*115
117
118
117
♦115% 118
♦13U
14
13%
13%
*13U 14
6012
23
23ls
h8i2 11812
*116
117l2
14
*1314
'
.
175
♦106I2 110% ♦105% 107% *105% 107%
70u
70%
67%
68i8 68% *67
67%
•1061S 10712 §10712 107i2 *106l2 10712
I6I2 1612
16l8
16%
165s
1638
'
♦156
♦156
110
10q
"58%
58
*160" 175"
70
*
100
iYS"
109
Do
"
66% Feb
86
Jan 30
13
70
Kayser &. Co (Julius)..„_
Do
1st preferred
Kresge Co (SS)
94% Mch
413S May
Feb
33
25
Do
pref v t ctfs
Goodrich Co (B F)
Do
200
pref stk tr ctfs
3,210 International Paper
Do
700
preferred
Internat Steam Pump...
*102
*33
pref.
l",245
•
10
31
Feb
Feb
Feb
Mch
30%
97%
47%
41%
142s8
17%
79%
100%
2134
10
Nov
Dec
10234
2734
56%
137%
_
103% Feb
J'ne 10
Jan
105% Feb
-
Sep
18
$34
41% Jan
73% J'ly 29
13778 Jan 27
J'ne 10
124
149% Mch
324% J'ly
10G3g Jan
79
Dec
31
133% May
Feb
49
J'ne 11
J'ne
J'ne
J'ne
J'ne
Deo
Jan
Jan
25% Jan
53% Jan
105% J'ne
17
10
10
94% J'ly -8
984 J'ne 10
Do
preferred
Internat Harvester Corp.
Do
50
preferred
200 Int Mer Marine stk tr cts
107
10634
•314
•148,
116
32% Jan
41% Jan
120
Jan
99
24%
125%
7%
61%
preferred
Jan
81
-
30% J'ne 10
Do
800
preferred
2,400 dGuggenh Explor Par $25
1,500 d Insp'n Con Cop Par$20
Internat Harvester (old)
l",645 Internat Harvester of N J
♦11312 115
*113% 11412 ♦113% 116
♦113% 115
107
108
105
*105
1083s
10834 105
§108
108
♦112
115
115
*112
♦112l2 115i2 511312 1131? *113
115
3«4
*314
334
4
334
334
*3l2
*3U
4i2
4%
♦3%
16
17
•1478
I68.1 *1478
1634
14%
147g *13
147g
147g
10
10
9U
91?
9%
97g
9%
9%
10%
934
10%
40
*39
40
41
42
3984 4012 *39% 41
41% *40
9
9
9
934
9
9
*614
*6i2
*6I2
*684
•6%
26
27%
{26
*23
*22i2 2712 *23
2712
27% *23
27%
*80
88%
*80
88's *80
8812 •80
88%
88% ♦80
88%
*11278
106"
Do
Jan
29434 Jan
106% Jan
21
Apr
16% J'ly 23
J'ly 23
x88
113%
115%
137t%
241%
IOU4
116% Jan
140
45
preferred
900 General
200 Gen Motors vot tr ctfs
30%
90%
44%
15
.
t ctfs.
Do
32%
♦106
1578
108
v
J'ne 10
62% J'ne 10
700 Distillers' Securities Corp
100 Federal Mining &
Smelt'g
77
30%
90%
91*
44%
1514
32%
♦73
25
4,100 Corn Products Refining.
300 Deere & Co
*3312
•73
Mch 27
100% J'ne 25
preferred
9478
14%
16
77
25
Do
620
40
*73
J'ne 10
65
•34
J'ne 10
121
72 Case(JI)ThreshMpftr cfs
1,870 Central Leather.
550
Do
preferred
14,900 dChino Copper
Par $5
2,800 Colorado huel & Iron
979 Consolidated Gas (NY).
*29%
31
131% 131%
10%
10%
65
Realization
preferred
5,050 Bethlehem Steel
Do
1,500
preferred
Brooklyn Union Gas
800
98
J'ne 10
3078 J 'ne 10
87
J'ly 8
70 Butterick Co
23%
92%
37%
37
20
40
48
23%
923s
J'ly 11
16% J'ne 10
May 7
Jan
118
74
Do
10,900 California Petrol
18%
6
Locomotive
27
•10
140% 140%
*28%
32%
350 Assets
J'ne
96
new
Woolen
Do
500 Baldwin
34"
72
200
preferred
650 Amer Writing Paper, pref
7,550 aAnaconda Cop Par $25
44
*126
93
♦13
Preferred,
200
129
*2512
1884
1934
♦49
'
710
*103l8 104
34
3412
733s
73%
7338
72
73%
129
"2",560
10484 J'ne 12
110% J'ne 12
125% J'ne 10
Sugar Refining
Do
preferred
Amer Telephone A Teleg
American Tobacco
230
103l8 103% *103
104
33i2
35
34%
3384
♦126
116
128% 1285s 5128i2 128%
224
9984
132
67%
*94l2
1334
27
19U
4934
*91
32
*66
129
224
700 American
11212
285
..
share.
295
103
f Sale
284
Exchange—Bond Record, Friday, Weekly and Yearly
New York Stock;
Jan. 1 1909 the Exchange method o) guoting
If.
Y.
BONDS
STOCK EXCHANGE
Week Ending August
1,
U S 2e consol
registered
US2i consol coupon
U S 3s registered
dlflSO
dl930
U S 3s coupon j.
U S 4s registered
*1918 Q-F
1925 Q-F
--
*1918 Q-F
-
»
Week's
Range or
Since
Last Sale
Jan. 1
No.
9534
98i2
s95%
95i2
102
101% 102l2 101S4
10134 102% 102i4 J'ly '13
110i4
110% Sale 110
110
110
111% 110
96
98
95%
9534
100
Sale
997a
100
296
96
*25
Ask Low
U S 4s coupon
..1925
U 8 Pan Canal 10-30-yr 2s *1936
U S Panama Canal 3s g
1961 Q-M
n
98
,
95% 101%
595%101%
30 101% 103%
101% 103%
*56
110
114%
10
110
114%
20
95% 100%
17
99% 103%
Foreign Government.
*
Argentine—Internal 5s of 1909.. M
J
Chinese (Hukuang) Ry 5s £
Imperial Japanese Government
Sterling loan 4M*
.
1925
2d Series 4^s
1925
Sterling loan 4s_
1931
Republic erf Cuba 5s exten debtExternal loan 4^s
1949
San Paulo (Brazil) trust 5s_1919
Tokyo City loan of 1912 5s
U S of Mexico s f g 5s of
1899
_
Gold 4s of 1904
1954
X
96i2
98
8834
91
88
F
Sale
M
F-
J
Mr
t
are
100% Sale
92
92
83% 90%
82% 89%
75% 83
99% 102%
94% 97%
96% 97%
27
40
the b asis
84
89%
92
95%
83%
85
Of $5 to
"99"
99
47i2 Sale
71
7il995 Q-J
4s.l995 A-O
75
100
917g
Nov
90%
97%
Debenture 5s
97%
General 4s
90%
91%
....
43
.
5
100
4
102
100
105%
100
101%
80%
97
101%
J'ne'13
98
101%
J'ne'13
98% 101%
99
J'ly '13
99
101%
99" "99"
Apr *13
86% Deo '11
47%
49
42" *69"
70% J'ly '13
70
7978
95
98
84
83
97% Sale
99i2 Sale
84
^
,
!
gu
88%
86
86
83
88
97
9838
93
97%
99%
9:
99%
9278 103%
87%
99% 100
96% J'ly '13
101%
8934
11II
103% Feb '13
101%
85%
Io334
88
Sale
107
105%
98
105%
92"
—1962
Mid Ga A Ati Div 5s
Mobile Div 1st g 5s
Cen RR A B of Ga col g
Cent of N J gen'l gold $s
....
120
....
90i2
90% Salu
....
'
Feb '13
107
107
97
Oct '12
89%
90%
J'ly '13
90%
May'13
91%
~82~%
82%
83%
J-J
M-S
87
Sale
87
87
J-J
J-D
M-S
M-N
A-O
112
Jan '12
86
May'13
100
161"% ids"
100"::::
A-O
105"" in
94
...
104
Sale 104
91%
88
90%
89%
91%
88%
9778
97
97%
86"
89%
90%
82%
86%
100
90%
101
106% 106%
103% 103%
96%
104
103% Apr *13
95% Mch'13
101
07
103
10§"
110%
103
104%
95»4
96%
J'iy 08
107% J'ne'13
107%110%
108% J'ne'13
4834 45% Apr '13
108% 1117s
..
104?t Sale 104%
88
J'ne'12
"91" mi
....
785
113% Feb '12
97
May'13
91
106%
108%
'§3
Apr 13
48
38
1047s
104% 100%
110% Mch '13
103
102*4 Sale 102%
106% Mch'13
103
iio"
110%
102
109
106% 106%
Dec '11
105
Deo '11
96
Nov'll
Oct
107
Dec'11
85% Oct '10
1987 J-J
90
82
07%
97lz
07%
99*4
113ii 114%
...
.
..
...
104
S19201 Q-F
86
Feb *13
00
00
107% Jan '12
115
Nov'05
109% May 11
99% J'ly '131
May'13
99% 101%
10 112% 119%
113%118%
103% J'ne'13
103% 105%
114
114
100
100
80%
90
114
100
J'ne'13
100% Jan '13
83%
83%i
100
100% 100%
83
90
5s_1945 A-O
gold 4s
2002 J-J
Bk City 1st con 5s__19l6-1941 J-J
Bk Q Co & S con gu g 5a
1941 M-N
Bklyn Q Co 5c S 1st 5s
1941 J-J
Bklyn Un El 1st g 4-5s
1950 F-A
Stamped guar 4-5a
1950 F-A
Kings County El 1st g 48.1949 F-A
Stamped guar 4s
1949 F-A
Nassau Elec guar gjld 4s_ 1951 J-J
Chicago Rwys 1st 5s
1927 F-A
Conn Ry & Llst&ref 5g4He'51 J-J
8tamped guar 4
1951 J-J
Det United 1st cons g 4Hs_1932 J-J
Ft Smith Lt& Tr 1st g 5s
1936 M-S
Grand Rapkls Ry lstg 5s..1916 J-D
Havana Elec consol g 5s
1952 F-A
Interboro-Metrop coll 4 Hs.1956 A-O
•
g
conv
Me prtoe Friday; fete* tu» week,
95
Oct
Chic Mil A StPtermlg5s_.1914 J-J
Gen'l gold 4s Series A
el989 J-J
Registered
el089
Gen'l gold 3 Ms Ser B._.el989
t-i
Registered
«rl989 J-J
25-year deben 4s.
1934 j-j
Convertible 4 Ms
1932 J-D
Convertible 4 M s (wh issued)-.
J"-J"
Gen 4 Ms (wh iss).
e 1989
Chic A L Sup Div g 5s...1921 J-J
Chic & Mo Riv Div 5s...1926 J-J
Chic A P W 1st g 5s
1921 J-J
iOM & Puget Sd 1st gu 4s_1949 J-J
Dak & Grt Sou gold 5s...1916 J-J
Dubuque Div 1st s f 6s
1920 J-J
Far A Sou assum g 6s
1924 J-J
La Crosse A D 1st 5s..__,1919 J-J
Wis A Minn Div g 5s....1921 J-J
Wis Vail Div 1st 6s
...1920 J-J
Mil A No 1st cons 6s...
1913 J-D
Extended 4 Hs
Chic A Nor West
(
110
V-
91%
'101'"
99%
99%
79
92%
85%
85%
100%101%
8434 84%
86
93%
88
88
68~
10
64
Sale
64
64
64"
53
55
53
63
50
98%
99%
82%
83%
98% May'13
82%
83%
86% Aug 12
94
94%
98
93%
98%
93
93
93
95
96%
93
Sale
92%
"
nn
94%
Apr'13
70
107
J'ly'13
98
97% 100
96%
99%
93
97
97%
97%
99% 100%
90% 96%
98
106% Jan '13
97% Feb '13
96
85%'
103% 103%
J'ne.lSt
93%
J'ly '13
72
108
J'ne'13
96% Sep '12
97% May'13
100
93
63%
100
82%
103% Feb 'IS
98%
*98% HI"
"9" nn
1915
1886-1926
cons 7s
:
Registered
70
80
107
119
97
103
106%106%
97% 98
108
.
104
"
"
R I Ark A Louis 1st
J-J
5s
110
110
102% 102%
104%
101
109% 109%
100%
100
103' 105%
96
i
96
\.
78%
85%
84
84%
95
92%
98%
ldd"
98
100%
*
109% Aug'12
104
May'13
104% Oct '12
104% 101
J'ly'13
101
Dec '12
..
....
69%
....
69%
....
107
102
109
Jan '13
111% Nov'll
104
100% J'ly '13
107% Aug'll
155%107%
117
11?" 121%
J'ne'13
90% Sep '09
109% 107% Jn'"e"'l3
107% 107% Feb '13
114% Feb '13
109%
105 ;
"597,108*
107% 112%
107%107%
114% 114%
113% 113%
88% 94
...
113% Mch'13
...
91
88% J'ly '13
115
J'ly '11
108% Mch'13
105%
103% 104% 103% J'ly '13
109
106
Aug '10
86% 86% 86%
87
106%
158%
....
91
J-J
78% Sale
Sale
IIII "93%
Dec
*84"
78
89
77%
78%
72
90
07% Sep *11
94% j'ne'll
85
85
100
69
....
140
87
'""2
107% May'13
104
797,
64%
85
87%
9978
MaV'13
997, 100%
102
106
Jan '13
106
106
97
95
J'ne'13
95
98
81
J'ly'13
.81
89
...
113
J'ne'13
115% 115
89% Dec '12
"99 "
Sale
106
60%
63%
105% Sep *11
100
94
—J
49%
107% 108%
'
98
94%
12
79%
63% Jan *13
M-S
108%
103% 106%
78%
58
58% Sale
M-N
ry
J'ne'13
96
113
—1952
94
85
100% 101
106
110%
95%
113
Consol 50-year 4s
101%105%
81%
81%
84% Jan '13
94%
95
M-N
Superior Short L 1st 5sgffl930 M-S
104%
104% 106%
82
6s..1918 M-N
Chic A West Ind gen g 6a_.ffl932
997,
99%
103
81%
North Wisconsin 1st 6s—.1930 J-J
St P A S City 1st g 6S....1G19 A-O
Ch St P A Minn 1st g
273
91%
106%
104%
96
79"
.—1930 M-S
~
100
95% May'13
J-J
Consol gold 5s.
---1952 M-N
Keok A Des Moines 1st 5s.1923 A-O
St Paul A KOShLlst4Hs*41 F-A
Chic St P M A O con 6s
1930 J-D
Cons 6s reduced to 3MS--1930 J-D
86
100
93
A-O
A-O
Bur O R A N—1st g
O R I F A N W 1st gu5s_1921 A-O
M A St L 1st gu g 7s
1927 J-D
Choc Okla A G gen g 5s—01919 J-J
26
264
91
91%
...1918 M-N
2002 M-N
2002
4MS-1934
5s...1934
102%
.
114%IIII
J-J
J-J
11Q
....
Frem Elk A Mo V 1st 6S..1933 A-O
Man G B A N W 1st 3Hs 1941 J-J
Milw A S L 1st gu 3 Ms
1941 J-J
Mil L S A West 1st g,6s..1921 M-S
Registered
85
100% 102% 102% Apr '13
100% 10078 1017s J'ly -13
109% Feb 13
1057#
100
May'13
100% Aug'12
102% 103% 103%
103%
nn
Chic R IA Pac RR 4s
79
104% May 13
101%
101% 103% 101%
88%
87% 89% 88%
100
100% J'ne'13
J'ne'13
105% .... 106
106%
105%
1037a
...
98%
80% J'ly '13
86
J'ne'll
88
88
101
1987 M-N
Chicago Rock Isl A Pac 68.1.917
Registered
...1917
General gold 4s
.....1988
Registered
.......1988
Refunding gold 4s__
1934
20-year debenture 5s__
1932
Coll trust Series L 4s
1914
97
Sale 102
Sinking fund Qs.._.1879-1929 A-O
Registered
...1879-1929 A-O
Sinking fund 5s....1879-1929 A-O
Registered
....1879-1929 A-O
Debenture 5s
1921 A-O
Registered
1921 A-Q
Sinking fund deb 5s
1933 M-N
Registered
1933 M-N
Mich Div 1st gold 6s. L .19 24 J-^J
Mil Spar A N Wist gu 4s_1947 M-S
Northw Union 1st 7s g
1917 M-S
Winona A St P 1st ext 7s_1916 J-D
99% 100%
90% 99
92
98% Feb '13
101% J'ne'13
102% 103
99%
9
99% Sale
May'13
100% 103% 103
Ext A imp. s f gold 5S..1929 F-A
Ashland Div 1st g 6s
^1925 M-S
105% 105%
11
100
92
nil "»o"%
109
106%
77%
Dec 11
997t
92
....
.......
71
116%125
J'ly 12
90% Aug 12
"99%100 "
n
165"
89
91
pl987 Q-F
,
96% Apr
90%
85
102"%
J'ly"'13
72%
72%
116% J'ly '13
105% Feb *13
120
....
1886-1926 F-A
1987 M-N
...
105%
72% Sale
115
1913 J-D
Registered
General gold 3Ms.
Debenture
102
98%
99
119% Feb '13
13
,
j
1
115
120%
'98"
102%
120%
119
129% May'09
J'ly *13
155" 109%
107% J'nV'13
84% J'ne'13
155" 107%
108% 106
96
106%
87
84
89%
Street Railway
Street Railway
1st refund
87
HiQh
95
103
BONDS—Continued on Next Page.
MISCELLANEOUS
Brooklyn Rapid Tran
Ind & Louisv 1st gu 4s
1956 J-J
Chic Ind A Sou 50-year 4s
1956 J-J
Chic L S A East 1st 4MS---1069 J-D
P 4s
100% Jan '11
107*' mi
Oct
J~-D
Refunding gold 5s .......1947 J-J
Refunding 4s Series C....1917 J-J
General 4s
35
106% Mch'13
102% J'ne'12
103% Apr '13
106% Apr '12
91
A-O
3
89
"*83
Low
...
Chic & Ind O Ry 1st 5s...1936 J-"J
Chic Great West 1st 4s
1959 M-S
Chic Ind A Louisv—Ref 68.1947 J-J
<
110%May'll
82%
F-A
92%
123% J*ne'12
82
A-O
95%
95
106%
86%
105
113
Cent Vermont 1st gu g 4s
"88
j"-"j"
J-D
87
Aug'12
M-N
J-J
1947 J-J
.1946 J-J
Ss.1937 M-Nl
—hi987
87*4
M-N
101
....
95
105
89%
91%
91%
92
Sale
-J
Registered
Oct '06
903s Sale
Am Dock A Imp gu 5s
1921
Leh A Hud R gen gu g 5s_1920 J-J
N Y A Long Br gen g 4s
1941 M-S
.
897S
98
89%
"91%
A-O
26
89
95
'
103%103%
106S4 Feb '13
8934
Q-J
Registered ...*.
.....1945 M-N
1st pref income g 5s
pl945 Oct
income g 5s
pi945
income, g 5s stamped
3d pref Income g 6s
pl945
3d pref Income g 5s stamped—
Chatt Div pur mon g 4s
1951
Mac A Nor Div 1st g 5s
1946
101
J-J
•
? 2d pref
i 2d pref
113
J-J
Central of Ga 1st gold 5s
pi 94 5 F-A
Consol gold 5s
......1945 M-N
••
80
94% Sale
Registered
1937 M-N
Pur money 1st coal 5s....1942 F-A
Extension 4s
A-O
Q-J
90
93%
85% 92
96% 100%
87%
88%
99i8
....
J-J
J-J
A 5s.1962 A-O
Registered
86
96
....
Mch'13
99% J'ly '11
J'ly '13
86%
98%
84%
85%
99% May'13
92
M-N
A-O
CI A Mail 1st gu g 6s.._.1943 J-J
Roch A Pitts 1st gold 6s
1921 F-A
Consol 1st g 6s
1922 J-D
Buff A Susq Ist reggAs
dl951 J-J
cons
89
100%
...1958
Chic & E 111 ref A imp 4» g.1955 J-J
1st consol gold 6s
1934 A-O
General consol 1st 5s
1937 M-N
Registered
86
99
86
~85
"97" Sale"
M-N
hi948 A-O
Oanada Sou
97%
9978 105%
92%
92%
J-D
8 Fe Pres & Ph 1st g 5s__ 1942 M-S
Chic & St Louis 1st 6s
1915 M-S
Atl Coast L 1st gold 4s
M952 M-S
Registered
A1952 M-S
-
86%
85%
88%
j01%
84%
94
1913 M-N
M-S
,
""6
94
80%
Feb 13
Oct 12
Mch'13
Jan '13
J'ly 13
Mch'13
96
1927 M-N
99%100%
,
Registered
........hl948
20-yr conv 4Mb
...1933
Pitts June 1st gold 6s
1922
P June AM Divlstg3Hsl925
PLEAW Va Sys ref 4s__1941
Sputhw Div 1st gold 3 3^8.1925
Cent Ohio R 1st c g 4 Ma
1930
CI Lor A W con 1st g 5s__1933
Monon River 1st gu g 5s_.1919
Ohio River RR 1st g 5s
1936
General gold 5s
1937
Pitts Clev A Tol 1st g 6s_.1922
Pitts A West 1st g 4s
1917
Stat Isl Ry 1st gu g 4 Ms
1943
Buffalo RAP gen g 5s.
1937
Consol 4 Hs
1957
All A West 1st g 4s gu
1998
1919 A-O
1919 A-O
Nebraska Extension 4s
14
98
86
84%
1917 J-D
Debentures 4s Series K
1913 F-A
East Okla Div 1st g 4s...1928 M-S
Short Line 1st 4s gold
1958 J-J
Gal-Ariz 1st & rer 4Hs---1962 M-S
Gold 4s
...1049
265
9558
92% J'ly '13
Nov
M-N
1960 J-D
\
1949
Registered
79%
99
J-J
J-J
J-J
J-J
100%
94
958* Sale
A-O ♦....
1955 J-D
BaitRegistered
A Ohio prior
3Hs
1925
.........hl925
.....
No.
■
99% Mch'13
J-D
95% 100%
99
10-year conv gold 5s
.<
Registered
Illinois Div 4s
Jan. 1
94
Sale
Sale
81% 87
J-D
1949
.1949
Sinking fund 4s...
103% J'ly '10
4s deferred Brown Bros ctfs—
,
94
2d consol gold 4s
Greenbrier Ry 1st gu g 4s_1940 M-N
Chic A Alton RR ref g 3s__1949 A-O
Railway 1st lien 3Ms
1950 J-J
Chic B A Q Denver Div 4s_1922 F-A
3Ms
Since
Lasi Sale
High
96
J'ly 13
104% J'ly '13
109% Nov'12
....
"79%
J-J
J-J
J-J
1989 J-J
Iowa Div sink fund 5s
£/'
F-A
Range
Range or
Ask Low
103
104
M-S
M-S
...
Illinois Div
1
M-N
11
92%
1913
1928
Bruns & W 1st gu gold 4S-1938
Charles A Sav 1st gold 78.1936
L A N coll gold 4s......01952
Sav FA W 1st gold 6a
1934
1st gold 5s—
1934
Sil Sp Oca A G gu g 4s
1918
.
Bid
J-J
M-N
9578
9534
92
1933
Ala Mid 1st gu gold 5s
Chesapeake A Ohio—
Gen funding A impt 5S...1929
1st consol gold 5s........1939
Registered
..........1939
General gold 4Mb
I992
Registered
1992
Convertible 4 Ms.
.....1930
Big Sandy 1st 4s
1944
Coal River Ry 1st gu 4s_. 1945
Craig Valley 1st g 5s__
1940
Potts Creek Br 1st 4s
..1946
R A A Div 1st con g 4s
1989
Friday
August
•Sft.
Registered
1927 M-N
Southwestern Div 4s..
1921 M-S
Joint bonds. See Great North
92
Virginia funded debt 2-3s..l991
Conv gold 4s
Oonv 4s (issue of 1910)
on
92
97
97
Improvement 4s
1962
Improvement 4S...1960
....
88
88
Sale
9134
_____1961
Canal Improvement 4s
1961
g
3
»101%
101% Sale 101
100%
100% 100% 100
101
10058 10H4 101
J'ly 13
100% 100
8134
~81% 81% 81
9788 98i2 97% J'ly '13
N Y State—4s
1995
Registered
Adjustment gold 4s
hl905
Registered
ft 1995
Stamped.
7il995
Oonv 4s issue of 1909....1955
92
J'ly *13
92
J'ly '13
Sale
-
Railroad.
A nn Arbor 1st g 4s
catch Top & S Fe gen
85
p rices
96
95i2
4% Corporate stock
1959
4% Corporate stock
.—1958
4% Corporate stock
1057
New 4 Hs
.-1957
New 4Hb
1917
4H% Corporate stock
1957
4H% assessment bonds..1917
% Corporate stock___1954
Canal
89
Y. STOCK EXCHANGE
Week Ending August 1.
.
State and City Securities.
N Y City—4 Ms
1960 M-S
4 Mb temp rects (w i)
1963
South Carolina 4 Me 20-40
Term new settlement 3s
09%
8712
J-
These
Canal
9712 J'ly '13
96
8712 J'ly '13
89
7634 J'ly '13
79%
100
U00
100i8 100
9434 J'ly '13
I
95
96l2 J'ly 13
X
8434
t 84
847g 84iS
X 90
90% 92l2 J'ly '13
85
84
May'13
J
High
Low
High
98% Sale
N.
Week's
Price
BONDS
Range
Price
Friday
August 1
Bid
!J. S. Government.
_
prices are now all—-"and interest"—except for income ana attainted bonds.
bonds was changed, and
*
100
100% 100%
87% Sale
100
98
101
87%
100%
88%
4
99% 103%
84% 92%
110
101
102%Mch'13
98
101
Apr *13
May'13
99% 99%
i
J'ly
99% 100
81% J'ly '13
81%
82
82
84
J'L
—75
76% May'13
97
Sale
96%
97
1017, J'ne'12
95% J'ne'13
68
68% 68
J'ly '13
93
89
Apr '12
....
3
99%
....
.
,
11
102%
98
98
101
101
99% 101%
99% 101%
81%
81%
82
76
78
96
80
9678
....
~95% 9-9%
68
76%
....
98
98
J'E
95%
75% Sale
95
Ma^'13
....
d Dim April,
75%
I
76
.e Due May,
124
98
98
95
98
71
81%
« Due
June.
Infcerboro Rap Tr 5s Ser A.1952 M-N
Manhat Ry (NY) cons g4s.l990 A-O
Stamped tax-exempt
1990 A-O
Metropolitan Street Ry—
Refunding gold 4s
2002 A-O
Farmers Loan & Tr ctf
Stamped
Bway & 7th Av 1st c g 5s. 1943 J-D
Col <x-9th Av 1st gu g 5s—1993 M-S
Lex Av & P F 1st gu g 5s_1993 M-S
Third Av RR cons gu 4s..2000 J-J
Central Trust Co certifs
Cent Tr Co ctfs stamped
Third Ave Ry 1st g 5s
1937 J-J
Met W S El (Chic) 1st g 4s_1938 F-A
Milw Elec Ry & Li cons g 5sl926 F-A
Refunding & exten 4Hs..l931 J-J
Minneap St 1st cons g 5s...1919 J-J
A Due July.
* Due Aug.
104% Sale 104%
88%
88%
60
1047,
95
64
62%
621,
100%
100
J'ly 13
97% May'13
99
100% Sale 100%
99
100
102%104%
861,
87%
May'12
62% Jan '13
59% Mch 12
98%....
43
88
J'ly '13
88% J'ly '13
90%
103%
99
97%101 J
74
J'ly'12
74% J'ly '12
74
103
....
....
....
Nov'12
102% J'ly *18
104
84
93% J'ly 06
J'ne'13
102% 101
91
92
Apr *13
102
Nov'12
# Duo Oct. .. y Due Nor.
_
f Due Deo.^e
102%
107%
100% 101%
91
91
J
^3
OpUea ialet
AUG. 2
Week's
Price
BONDS
§r
Friday
Week Ending August 1
sa,
August 1
CinH & D 2d sold 4Hs
1837
1st & refunding 4s
>1959
1st guaranteed 4s
1959
Cin D & 1 1st gu g 5s
1941
CFind&FtW 1st gu 4s g_ 1923
Cin 1 & W 1st gu g 4s
1053
Day & Mich 1st cons4Hs-l031
J-J
J-J
J-J
M-N
M-N
J-J
J-J
JrJ
J-J
J -D
J-J
Y.
N.
STOCK
EXCHANGES
lnd Dec& W 1st g 5s
1st guar gold 5s
1935
1935
1993
20-yr deb 4^s
...1931
Cairo Div 1st gold 4 s
1939 J-J
Cin W&MDiv 1stg4s_.1991 J-J
St L Divlst coll tr g 4s
1990 M-N
Registered
^1990 M-N
Spr & Col Div lstg4a._
1940M-S
W W Val Div 1st g 4s
1940 J-J
C I St L & C consol 6s
1920 M-N
1st gold 4S
*1936 Q-F
Registered..
*1936 Q-F
ClnS& Clconlstg5s—1023 J-J
O O C & I consol 7s__
1914 J-D
Consol sinking fund 7s__1914 J-D
General consol gold 6s._1034 J-J
Registered
1934 J-J
IndB & Wist pref 4s
1940 A-0
O lnd 8c W 1st pref 5s...cfl938 Q-J
Peo 8c East 1st con 4s
1940 A-0
Income4s
1990 Apr
Col Mid and 1st g 4s
...1947 J-J
Trust Co. certfs. of deposit
Colorado & Sou 1st g 4s
.1929 F-A
Refund & ext 4Hs—....1935 M-N
Ft W & Den C 1st g 6s—.1921 J-D
Opnn & Pas Rivs 1st g 4s__ 1943
Cuba RK 1st 50-yr 5s g ..1952 o
gen 4s
.
Range
.
.
95
80
M-N
lstconso- guar 7s—_ 1915 J-D
Registered
1915 J-D
lstrefgu g 3^8__.__2000 J-D
H Y Lack & W 1st Gs....1921 J-J
Construction 5s
.1923 F-A
Term & Improve 4s
.1923 M-N
Warren 1st ref gu g 3}$s-_2000 f-A
Del & Hud 1st Pa Div 7s—1917
Registered
1917
10-yr conv deb 4s.
1916
1st lien equip g 4>£s
1922
1st & ref 4s..____:
M-S
M-S
J-D
J-J
1943 M-N
Alb & Bus conv 3>£s
1046 A-0
Rens & Saratoga 1st 7s—.1921 M-N
Depv & R Gr 1st con g 4s.^1036 J-J
Consol gold 4
1936 J-J
Improvement gold 5s.
1928 J-D
lst& refunding'5s
1955 F-A
Rio Gr June lstgug 5s
1939 J-D
Rio Gr So 1st gold 4s__._1940 J-J
88
Rio Gr West 1st g4s_
1939
1949
Mtge& col trust 4s A
Utah Cent 1st gu g 4s_al917
Des Moi Un Ry 1st g 5s_
1917
Det A Mack 1st lien g 4s
.1995
'
J-J
A-0
A-0
M-N
Dul & Iron Rauge 1st 5s
1937 A-O
...1937 A-O
2d 6s.__.
—1016 J-J
Du So Shore & At g 5 s,
1037 J-J
DM gin J ol & East 1st g 5s..1941 M-N
"ne 1st consol gold 7s
.1920 M-S
N Y & Erie 1st ext g 4s..,1947 M-N
2d ext gold 5s
1919 M-S
3d ext gold 4Ms
1923 M-S
4th ext gold 5s_..._—1920 A-0
5th ext gold 4s
1928 J-D
N Y L E & W 1st g fd 7s
1920 M-S
Erie 1st con g 4s prior
1996 J-J
Registered
1096 J-J
1st consol gen lien g 4s
1996 J-J
Registered.,
.1996 J-J
Penn coll tr g 4s
1951 F-A
'50-year conv 4s A.
...1953 A-0
103"
-.-.100
90
80
.—
92
90*4
88*,
100
100
92
...
----
----
---»
1937 F-A
F-A
M-N
A-0
J-D
J-J
General gold 5s
....1940
Terminal 1st gold 5s....1043
Mid of N J 1st ext 5s.__.,_1940
Wilk & Ea 1st gu g 5s
,1942
Ev & lnd 1st con gu g 6s
1926
Evans &TH 1st cons Cs
1921
J -J
1042 A-0
1st general gold 5s
Mt Vernon 1st gold 6s
Bull Co Branch 1st g 5s
Great
,
G B Northern—
& Q Coll trust 4s
Registered h
refunding 4 ^s
1st &
1928
ser
A 1961
;
Registered
....
Registered
1047,10514
Mch'13
90
Mch'13
79
35
28
J'ly 13
J'ly '13
J'ly *13
35
26
26
25
2612
9478
90U
91%
102
102
May'lO
101%
IOII4 1031s
103
104
104
104
104
90
1085,
108
...
102i2 1055S 102i2 J'ly '13
90i2 95
94% J'ne'13
ioo'si ""
149
*9*6* " *96%
Sale
98
94
Sale
93l2
85
85i2
113
81%
858,
97
85
87
705, Sale
70%
109
IIII ~77h
101i8
9913
83
10
87
21
71%
Dec '12
88*4
801,
80
9578
85
99
67
8414
Mch'08
78
8OI4
Apr '13
97
Jan '08
79*4
85l4
78
81
97^4
T
98
110
102
...
116
97
99*8
Mar'13
100
I03®s Feb *13
110
Aug'12
1035, 1035,
109*4 J'ly '13
1011, J'ne'll
103
Feb'13
10914
115"
103""
103
103""
1081* !
Sale
73*2 Sale
Sale
72%
66?i "76"
110
Apr '12
Apr '13
109
10512 109
May'12
1241, 122
J'ne'13
Portland Ry 1st 8c ref 5s...1930
Portland Ry Lt & Pow 1st
& ref conv s f 5s
.....1942
Portland Gen Elec 1st 5e.l935
St Jos Ry. L, H 8c P 1st g 5s 1937
Adi inc 6s
-
Income 6s
86
177
66
8214
....
....
100
65
77i8
idois
100*2
"
10112
06
100% Dec '06
87
Apr '13
107*8 Feb '13
1111, May'12
Mch'13
98l2 98
106
May'12
108
105
105
100
98
10U2 J'ly '13
94lt
~65~ "74
108
Nov'll
95
J'ne'12
95
J'ne'13
02
Aug'10
72
Mar'13
•98
98
97%
9914
90
•
Registered
"94" *96*4
Paducah & Mem div 4s
194 6 F-A
Pensacola Div gold 6s.
1920 M-S
St Louis Div 1st gold 68—1921 M-S
93
2d gold 3s.
—1980 M-S
Atl Knox & Gin Div 4s...1955 M-N
Atl Knox & Nor 1st g 5S..1046 J-D
96
Henddr Bdge 1st s f g 6s__193l M-S
96i4
97
98
J'ne'13
.
96
1005S
96
93l2 98U
118' 12412
118
119U
99*4 10412
J'ne'13
75
A-0
83%
75i2
541, Sale
101
951,
—
78%
*
•
L & N & M & M 1st g 4 Hs
L & NT-South M joint 4s
Registered
'
541,
148
65*4
101
Jan '13
95
Mch'13
70
72
207
95
95
1
891,
A-0
921, j'ne'13
8714
8714
84
71
th^i week*
101
95
96
*34
95
84
60%
103% 103%
Sale
1
79
"08" Nov" 08
1081, Feb '13
78*4 785,
787,
....
85*4
721,
517,
101
—-
93
93
85
Oc
J'ne'13
a Dae
Jan.
1
1
1
110
t
r
t
95
9212
95*4
87
93%
----
1
t
82%
7678
99%
77V
631,
-t
«
• Duo
71
Feb.
83
1952
J'ly '13
751, Mch'12
100
951,
96
101*1,
92
92
102*,
887,
881,
887,
881,
-26
931,
961,
881,
90
79
83
93
96U
81
81
70
70
94
94
102" III
104
100
114
Feb 11
90
Oet '09
May'lO
941, J'ly 12
...
81% IIII
"85 "
J'ne'13
98
J'ly *08
May'13
J'ly *13
92
103" 105"
103
88*,
94
93
53
57
53
937,
91
....
691,
721,
93
II" "961*2
52
91
94
68
72
Oct '00
96i2
9H4
91
1001, 10414 J'ne '12
i...
*93i2
106
102"
80
*
IOU4 101*4
IOU4
1041, May'12
93i2
Sale 93U
111
May'13
r
llli, Dec *11
II
1051, Mch'13
—
03
901,
937,
881,
May'13
701, J'ly '13
96*,
9212
92
10214 107
J'ly '13
1025,
101l2 102i2 102S,
9812 97
Mch'13
100
1051,
993,
641,
63
90
104
02% Au"g'i2
951,
9*5* "99"
90
96V
10U, 1061,
97
102V
IOO" 104%
9314 *97%
1101, IIH4
105% 105%
J'ne'12
I6l% Feb'lo
103
"86%
—
84
,
107
10U2 107
Men 12
Mch'13
96U Mch'12
86
86
88
97
9614NOV12
90*4 Oct '06
.85
86
100
J'ne'13]
1041, Dec '08
IIII "89%
"98 "III
98
104
98
86
112
1061,
106i2
9914
Ill
.
62
66
87*4
90l2
103
103
104
86
86
Mch'13
J'ne'13
.
'
931,
1101, 114*4
1101, in
911, 991,
106% 106%
105
106
120*1130%
1141, ii4£
91
J'ne'13
91
1051, Mch'13
1051, 106V
109
109
J'ly'13
60*«Sep "
877, J'ly '13]
111
...
101
103
104
91
—
1059, ...
1083, 110
"w"o"" "9*6*"
Apr'13
104*4 May *12
120U Mch'13
1141, Feb *13
...
...»
Jan '13
105
....
— -
104
93
961, Sep '12
106*, Mch'13
....
•
"86 " "89%
103
92*4
105
*86*" "94*
Nov'Offl
111
108
90
Jan .'11
110i2 J'ne'13
...
92*4 Sale
IOO"
J'ne'13
95
86
...
Ill
90
10/ .103
110
Jan <13
106
Apr'11
88I4 88U J'ne'13
10212 103U Feb '13
82
841,
J'ly '13
1Q9
:
87% *92%
110
111
^
---
95
iooii I
96
Pens & Atl 1st gu g 6s....1921 F-A
S & N Ala con gu g 5s
1936 F-A
L & Jeff Bdge Co gu g 4s
1945 M-S
100
'13
117ii
....
t3
92 V
921,
Nov'00
94" Feb
105% III
95
J
N Fla & S 1st gu g 5s—..1937
N & O Bdge gen gu g 4%g 1945 J-
on
85
26
May'99
70
-
90
86
1945 M
h 1952
...
104i2 110
85i| Oct '12
10H, Oct '99
Kentucky Cent,gold 4s,...1957 ,J-
.
BONDS—Continued
""74
70
1933 J-J
No prlee Friday: latest bid aad asked
85*4 Feb '13
75
76*8
1931 M-N
1919 J-D
987, 10U2
927,
93i2 J'ne'13
118
1840 J-J
..1940 J
LCin& Lex gold 4 Hs
1931 M-N
N O & M 1st gold 6s
1930 J-J
N O & M 2d gold 6s__..._1930 J-J
221
95l2
951,
94%
951,
n
Collateral trust gold 5s.
E H & Nash 1st g 6s
"72" "76"i2
-
77
M-S
,__/il931
.,..1938
.....1922 M-S
.1932 J-D
Unified gold 4s
105" iio
J'ne'13
1945
Louisiana & Ark 1st g 5s.._ 1927 M-S
Louisville & Nashville—
General gold 6s
..1930 J-D
Gold 5s.......
,..1937 M-N
" "99"
-
1945 M-S
,,1914 A-0
N Y B & M B 1st con g 5s.1935 A-O
N Y & R B 1st g 5s
.1927 M-S
Nor 3h B 1st con g gu 5s_ol932 Q-J
107*, 108
...
*681,
1933 J-J
1933 J-J
1949 M-S
Debenture gold 5s
1934 J-D
Guar ref gold 4s_...i_.._1949 M-S
Registered
1949 M-S
35" ~87
123
...
A-O
1914 A-0
gold 6s_ftl931 Q-J
4s
84
99
Unified gold 4s__
...
M-N
Gold
122"" 124"
82
100
cons
1st consol gold 4s_
Generki gold 4s..
ioo ~ in"
90
F-A
1960 J-J
ol960 A-0
Union Elev (Chic) 1st g 5s. 1
United Rys Inv 1st lien coil
*
Long Isld 1st
M-N
A-O
58,1933 J-J
Registered
".85*8 "OO *
...
M-N
J-J
M-N
5s_l937 J-J
Tri-City Ry 3c Lt 1st s f 5s.l923
Underground of London—
4MB---
J-J
Ferry gold 4Ks
Deo '12
-..-10712 106
100t8 J'ne'13
£o"l% 109" 103% Aug 12
98
96
J'ly'13
100
1950
J-J
El C & N 1st pref 6s
Gold guar 5s.
Apr'12
85*8
85%
73
747,
70
71*4
104% 108% 106
Apr
J-D
A-0
A-0
J-J
4>$s_1940
77
"85% "86%
1959
1st int reduced to 4s
Leh & N Y 1st guar g 4s
82" "87" "
71%
impt 5s
Leh Val Coal Co 1st gug
115*4 J'ne'J2
86
86*4
85
Sep '12
84
....
J-J
Registered
99*4 Oct '12
Mch'13
Jan' '12
J-D
.—1951 J-D
1931 M-S
Registered
........"1940
Lehigh Vail (Pa) cons g 48.2003
Leh V Ter Ry lstgu g 5s.._1941
Registered
1941
100
"717;
f-a
Leh Vail N Y 1st gu g
Apr '13
102*4 103
803* Sale
1951
100
97
""
J-J
J-J
1951
931, May'13
95U Sep '12
881,
79
J'ly '13
931, Apr '13
04*« Jan 11
047, J'ly 12
751, Nov 12
81
May'13
83
Aug'12.
"75*1,
J-J
J-J
f-a
f-a
104U 104%
88
82
10612 Mch'08
104
Fob '11
101%
1953
1953
1921
1951
1951
,_1951
Jamestown*
&
Clearfield Franklin
1st 4 s
Ref &
84
82
100
M-N
J-D
89
Kansas City Term 1st 4s
I960 J-J
T ake Erie& W 1st g 5s__.1937 J-J
-L* 2d gold 5s...........1941 J-J
North Ohio 1st gu g 5s
1945 A-O
J'ne'13
J'ne'13
104U Mch'13
100
94
KanRegistered.
City Sou 1st gold
3s..
1950
;
__1950
82
Sep 11
931,
79
f-a
4s.
100
90
881,
J-J
int & Great Nor 1st g Cs
1919 MN
Iowa Central 1st gold 5s,_,1.938 J-D
Refunding gold 4s
1951 M-S
Sep '04
....
g
St L Sou 1st gu g 4s
lnd 111 & la 1st g 4s__
Street
al942 A-0
cons g
Third Ave 1st ref 4s
Memph Div 1st
Registered..
"gg'ij
90
Cli2 Apr '11
85
8OI4
72S4
9312
85
1211, May'12
8134
82i2
90
J'ly'13
~87% 1
80
95*4 "98
10
94
•
1241,
80* J'ly"09
M-N
--19f$ J-D
Carb & Shaw 1st g 4s
1932 M-S
Chic St L& NOg 5s... ..1951 J-D
'Registered
1951 J-D
Gold 3^s
1951 J-D
Registered
__1951 J-D
110"% ifosg
98
Mar'13
97
a-o
Bellev & Car 1st 6s
Aug'01
9614 J'ly *13
98
120
3
887, Feh'13
881, Feb 13
931, May'09
a-0
m-s
m-s
a-0
J-J
J-J
J-J
J-J
...
90
100
A-O
1951
_1951
Western lines 1st g 4s
Registered
1021, Feb 03
1105, Mch'13
....
J-J
1951
.....
Registered
111*,
102l2 106i8
94% 97
Street Railway
City Cab
Registered
90
J-J
J-J
108
J'ly'
117*2 118
100% J'ly '
1005, 101
108*4 J 'ne'
New Orl Ry 8c Lt gen 4M»-1935 J-J
N Y Rys 1st R E & ret 4s 1942 J-J
8t Paul
Middle Div reg 5s
Omaha Div 1st g 3s
St Louis Div & term g 3s
I05l2
89*2
J-J
Gold 3Hs_
Mch'12
J'ne'13
MISCELLANEOUS
30-year adj inc 5s
Registered
1113, Deo '10
*«3
115
1933
1952
1953
1953
1950
Louisv Div& Termg3>^s
loo"
83
195J
Cairo Bridge gold 4s_.
Litchfield Div 1st g 3s
108
"83""
J-J
J-J
.1955 M-N
Purchased lines 3^s..
LNO& Tex gold 4s
High
961,
J-J
1955
4934
92
Low
105% 109"
1111 1041", J'ne'13
98i2 97%
"98I4
96*2 1001, Sep '08
92
Apr 13
921, Apr 13
9812 10014 Deo 12
1952
-1?52
No.
J-J
96*4
1st ref 4s.
89
91i2
-
J-J
J-J
f llinois Central 1st gold 4s_195l
1
Registered
1951
1st gold H)4b
.,1951
Registered
1951
Extended 1st g 3Hs-1951
Registered
1951
1st gold 3s sterling..
1951
Registered
1951
36i.i
--
l045g III.
4>$s._1999
1999
4s..._1948
89
92
92
91*4
102
25
119*2
J'ne'll
02*, Mch'll
07
Sep 12
lliUSep 12
1201,
120!8
136U May'06
105l| May'13
97
....
J'ly '13
98
90
Registered
J'ly" 13
83
108
High
92
85
Coil trust gold 4s
102% 101%
94U
1933
" "00"
9312
95*4
1031,
Hous Belt & Term 1st 5s_
Apr '12
79%
118%
Reduced to gold 4^s.l033
Registered
Ask Low
92
J-J
Col& H V 1st ext g
Col & Tol 1st ext 4s.
82
35%
——
J
Registered
1961
St Paul M & Man 4s
1933
1st consol gold 6s......1933
il
04" J'ly"'Q8
951, Sale
95%
.1921
...1921
91
.
120" 120"
•
Ft W & Rio Gr 1st g 4s
87
f Jock Val 1st cons g
11
iio% iio%
1923 A-0
.1930 A-0
1?lorida
E,Coast
1st 4Hs_.1959 J-D
ortStU
DColstg4Hs-1941 J-J
89U
Sines
Jan. 1
aj(
J-D
Registered
101
101
1937 J-J
89%
Range
Range or
Last Sate
5s..61952
Gulf & S11st ref & t g
Registered—
g 6s
N Y Sus& W 1st ref 5s
2d gold 4J£s
;
90
120"
23
....
91*4 93
91% 92*s
102% 104i4
Olev & Maiion Val
5s..l938 J-J
.1935 A-0
90
J-J
J-J
Registered
1st guar gold 5s_..—1937
Registered .......-.1937
Will&S Fist gold 58—1938
—
79$,
71
g
Dec
881,
923,
0238
1071, J'ly '12
101i2 J'ne'13
124
...
Oct '07
90
90
....
82
J'ne'13
91
1047, Mch'13
971, Nov'12
....
...
90U
Mch'13
90
91
1047,
102
Long Dock consol
"Ms]
86*4
Dec '12
8914 Feb '13
....
.1953 A-0
Coal & RR 1st cur gu 6»_,1922 M-N
Dock & Imp 1st cur 6s.
1913 j-j
N Y & Green L gu g 5s
1946 M-N
1957 J-D
1937 J-D
Pacific ext guar 4s £....1940 J-J
E Minn Nor Div 1st g 4s 1048 A-O
Minn Union 1st g 6s
1922 J-J
Mont C 1st gu g 6s
1937 J-J
WeeJf.
Friday
August 1
Bid
St P M & M (Continued)—
Mont ext 1st gold 4s
98% 1001,
107% Doe '03
907, May'i.3
88i2
88I2
9Q
871, 89»4
82
.—
78®$ ..T.
—90
.
Buff N Y & Erie 1st 7s...1916 J-D
Chic & Erie 1st gold 5s—1982 M-N
Series B
High
Registered
86*4 Feb '13
83
.
Registered
do
Low
Mob'11
J-D
Gold 4s
,.1995 J-D
Det Riv Tun-Ter Tun 4)is.l961 M-N
Dul-Missabe & Nor gen 5S.1941 J-J
No.
.....
1940 J-J
Guaranteed
Jan. l
101% 100*4 Oot '12
91%
86% J'nV'12
87
98% Mch'13
97
""
Del
Lack &&Western—
•1 Morris
Essex lst7s_1914
High
Y.
N.
Since
Price
BONDS
STOCK EXCHANGE
Week Ending August 1
Range
is
or
Last Sale
Ask Low
Bid
Gleve Cin C & St L
285
New York Bond Record—Continued—Page 2
1913.]
Feb '06
1091, Oct'12
1011, Jan '13
...
88% "92%'
103
103V
81
-
-
-
90
-
mmmm
101% 101%
11014 Oct
1091,J'ly '12
1071, HO
"83% "881,
oiUMch'ia
Next Page.
Railway
United Rys St L 1st g 4s...1934 J-J
St Louis Transit gu 5s
1924 A-O
United RRs San Fr s f 4s_. 1927 A-0
Va Ry & Pow 1st & ref 5s—1934 J-J
-
-
-
651,
73%
731, Mch'13
731,
69l2
60
69
72
>
55%
56
95
67
93
j
03
511,
93V
69
•
69
66I4
May'13
>
Gas and Electric Light
Atlanta G L Co. 1st g 5s...1947 J-D
Bklyn U Gas 1st con g 5s..1945 M-N
Buffalo Gas 1st g 5s....
1947 A-0
Columbus Gas 1st g 5s
1932 J-J
Detroit City Gas g 5s
1023 J-J
Det Gas Co. con 1st g 5s
Det Edison 1st coll tr 5s
A Due July*
102
98*4
99%
97
F-A
k Duo Aug.
99*,
m
m
m
—
mm
m
107
J-D
A-0
1011,
J'ne'13
1011,106%
54
"99
J'nV'13
*99 " IOO*
95*, Sep 08
991, J'ne'13
1061, Oct 12
"99 ~ 102%
10U,
55
M-S
M-N
103
64
54
90
1918 F-A
1933 J-J
Eq G L N Y 1st con g 5s—.1932
Gas A JElec Berg Co c g 5s.r1949
Gr Rap G L Co 18t g 5s—1015
Hudson Co Gas 1st g 5s
1949
Kan City (Mo) Gas 1st g 5s 1922
4 Due April.
1001,
101
•
---
100
Feb '13
101
10Q
1031, 101
Oct '09
mm
mm
94
• Due Oct.
J'ly '13
981, Sep '12
* Cptloa
100" isr
101*
103%
-.33
H.
New York Bond
BONDS
Y. STOCK EXCHANGE
Week Ending August 1
8 ^
I'TIC*
Week*
it
"a.
Friday
August 1
Range or
Last Sal*
Ask Low
Did
VI"anila RR— Sou lines 4S.1036 M-N
.«W-fexican Cent inc g 3s tr rects.
I
Equip & coll g 5s
1917 A-O
Record—Continued—Page 3
Range
V3
No
High
Nigh
Lots
25% Apr '09
ZZZZ
4s__1977 M-S
Stamped guaranteed
1977 M-S
Minn & St List gold 7s
1927 J-D
,
Pacific Ext 1st gold 6s
1921 A-O
>
lstconsolgoid
con g
iio" HI
124% Oct '12
110% Aug '11
Nov'10
100
108
85
5s
....1934 M-N
1st and refund gold 4c
1949 M-8
L D es M & Ft D lstgu 4S..1935 J-J
M StP& SSM con & 48 int gu 1938 J-J
1st Chic Terml s f 4s._,
1941 M-N
MSS&A 1st
75
Moh'10
54
88
6912|
66
91
90%
78
98
98
67
70%
80%
70
89s4
....
87
19901 F-A
82
82
1942 A-O
1942 M-N
gu g 5s_1942 M-S
Sher Sh & So 1st gu
g 5s
1942 J-D
Texas & Okla 1st gug5s__ 1943 M-S
Missouri Pac 1st cons g 6s1020 M-N
Trust gold 5s
M-S
99
102% 101
98i2 103
Dai & Wa 1st gu g 5s
Kan C & jPac 1st g 4s_.
Mo K & E 1st gu g 5s
M K 6c Ok 1st guar 5s
M K & T of T 1st
\
..
stamped
Registered
1001s
104" 105%
9534
nl917
Registered
40-year gold loan 4s
3d 7s extended at
4%.
1st & ref conv 5s
Cent Br Ry 1st gu g 4s
Cent Br U P 1st g 4s
.
Registered
1st extension gold 6s
General gold 4s
....
.1931
§:s
Nashville
Oh &gold
St L 5s
1st 7s 1928
1913
1st consol
A-O
i0534
1923 J-J
1917 J-J
1917 J-J
10768
99%
1st g 6s
McM M W & AJ 1st 6s
T & P Branch 1st Gs
;
Registered
..1998
Beech Creek 1st gu g 4fu_1936
Registered
»^1936
2d guar gold 5s
.^1936
*" Registered
.1936i
Beech Cr Ext 1st g 3^s_ol951
Cart & Ad 1st gu g 4s__..1981
Gour & Oswe 1st gu g 5s..1042
1
..
....
Registered
■
J-J
"47%
100% 102
;
McKees&BV 1st
g
1931 M-N
5s..1938 J-J
4s
•>
,
J'ly'IS1
93
May'12
96%
76%
45
87
79"%
87%
80%
87
82
66*4
91%
87%
79%
78% J'ly '13
77
J ly '13
8i
76
80%
76
77%
Apr'13
98
98
May'11
1071* 107
91
....
100
...
104
...
90
82
92
100
"
106%
J'no'10
90
83%
J ne'09
-
-
-
-
...
Refunding
85%
84%
90%
89*8
Jan '12
119
J'ne'06
82%
i—
87
93% 94%|
93%..
87
Convertible deb
Gs
Ed El 111 Bkn 1st con
Lac Gas L of St L 1st
1922 M-S
g
g
4s_1930 J-J
5s_el910 Q-F
Ref and ext 1st
g 5s
;
1934 A-O
L 1st 4s...1927
M-Nj
Newark Con Gas g 5s
1948
Milwaukee Gas
J-D
1948 J-D
NYGELH&Pg5s
1
'
Purchase money g 4s
Ed El 111 1st cons
NY&QE1L&
1949 F-A
1995 J-J
g 5s
P 1st
con g
5s 1930 F-A
N Y & Rich Gas 1st
Is
"
g 5s
1921 WI-N
Pacific G& El Co Cal G&E
t
Corp unifying & ref 5a_...1937
M-N
Pac Pow & Lt 1st & ref
20-yr
<5s Internat Series
....1930 F-A
Pat& Passaic G & E
5s....1949
M-S
♦No price
Friday; latest bid
and aaked.
—.1921 J-d
-—1^0 A-O
s
Pi',ts Sh & L E 1st g 5s1st consol gold 5s
f 4s 37 J
88%
101% Sale" 101%
99% Sale 09
88*8 90% 88*s
101%
106%
101% 101%) 101%
83
82%
106
106%
Stt Jo&
Isl 1st
g4s__*—1947
LouisGr
& San
Francisco—
83
86%
84
89
93%
99%
97%
97%
83%
89
...
100
101
92*a
101%
82%
Apr '13
93
95
Due Jan.
4
1931 j-j
1931 j-j
St L & S FRRconsg4s.*1996| j-j
Gen 15-20-yr 5s
.*—1927' M-N
Southw Div 1st g 5s_—.1947 A-O
Refunding g4s
Registered
on
100% 103%
3
82
86%
106% 108%
99% 101%
4
91
6 Due Feb,
* Due
96
94%
May.
con
g
6s
a
Due June.
-
-
.
89
99
92*4
112%
111%
104
99
202
32
98
107
83
92
105*4 105*4
84% 95*8
91% 98%
91% 97*8
63% 68%
65
68
..
90
92%
110
113
loo"" III.
98
Mch'13
"
113
A Due July.
Jan *12
101
J'ne'13
J'ne
101
10
110*4 111%
87% 91%
98
96
100%! 100%
100%
105% 110 Mch'12
99%
99% J'ly '13
101%
99% 101%
99" £6013
....
96% Sale
95% 97%
96% 97
9834 102*4
99% 99%
96% j'ne'13
"99"% 99*4 99%
f~
100% 99% Feb '13
100
87%
Sep ""
98% 99% 99% Jly *13
102
102%
12
91% Apr *11
110%
110% Apr '13
86
87% 87%
87%
99
99
9834 100
"99 " idd""
Jan '03
101% May'12
_ —
102
101%
101%!
100% 102% 102*4 May'13'
8.4%
83*4 J'ly
84
85% J'ne'13
101%104
102% 102*4
83*4 87
85*8 86%
,
...
96%
97
---
88*4
82%
.
94%
95%
100
...
100
.
"85 " I
85%
J'ne'13
84% J'ly
82% J'ly
94
May'13
92% Feb '13
110
Jan '05
102
J'ly '13
J'ly *09
Feb *12
Oct *12
May 08
J'ly *13
J'ly '12
Feb '13
May'10!
109*4
91%
90%
—
87%
90
86%
90%
101%
95
100
109
95
92
106
ir
mi '95
50
86%
86%
101% 101%
95
101
103%
101%
J'ne 11
92"% _9"2%
90
90
Apr '13
90
95% Jan '13
97% Jan
106
J'ne'13
106
108
106
106
106
95%
97%
Feb '13
95%
97%
II
Jan *13
54
64
54% May'13
61
54%
Oct
98
104
90
102
93% Jan
...
100
92%
102
82%
96%
92%
92% J'ne'13
54
91%
94
95
...
103%
85%
101
iiii"97%
87%
97
84%
82%
101
Mch'13!
104
105% 101% May'13
95
.—
....
97
102% J'ne'12
102*8 Nov'12
95
J'ly '13
98
100% 100%
100% Apr '13
96
...
90% Sale
IIII"74
Feb
90%
75
95
"
90%;
May'
Apr'
108
96
90%
96%
75
83%
106
108
113% Nov'
95%
95%
....
93
945s
94
92
93%
94
95
94
IIII "80
"80 ' J'ly"
105
72
...
...
,
53% Sale
53
J'ly
105%
96%
97%
97%
72% J'ly
53%
52
97%-
92
961*
91%
96*4
SO"" "&4 "
93
72%
23
Jan
6912
70%
80*4 Mch'
91*4
105
J'ne'
100
50%
100
"57
114%
105
72%
82%
100
65
76*4
112
116%
f
J-J
J-D
Due QcU
112
11*
99*4 100*4 100%
1947 M-S
•
"
113
115*8 Aug'11
107
94
92%
88
88
mm
1943 A-O
..1947 M-S
M-N
M-N
Philadelphia Co conv 5s
1919 F-A
Conv deben g 5s...
1922 M-N
Stan Gas & El conv s f 6s
1926 J-D
Syracuse Lighting 1st g 5s—1951 J-D
Syracuse L & P 5s..
1954 J-J
Trenton G&E 1st g 5j_.
1949 M-S
Union Elec L & P 1st g 5s..1932 M-S
Ref & ext 5s
1933 M-N
Utica El L & P 1st g 5s..—1950 J-J
Utica Gas & E ref 5s......1957 J-J
Westchester Lig g 5s
1950 J-D
6
115% 120*4
11
93%
Next Page.
Ch G-L & Cke 1st gu g 5S.1937
Con G Co of Ch 1st gu g 5sl936
Ind Nat Gas & Oil 30-yr 5s '36
Mu Fuel Gas 1st gu g 5s..1947
102%
99% 102
88*8 90
»
99%
Jan '11
...
"70% Sale
1951 j1951 j-
Refunding gold 5s
Registered
"88% "88"%
J-J
General gold 6s.
General gold 5s
»eo Gas & C 1st
114
100
941*
99
a
"""6
13
Apr '12
J'ly '13
92% J'ly '09
92%
101% 104*4
107
J'ly
101
93%
—
Dec '12
Apr '13
101%
99%
J
Jersey Cent coll g 4s
1951 A-O
Atian City gu 4s g.—*—1951 J-j
"
13
J'ly '13
104
104*4i 104
Apr '13
104
104*4 10434
10434
104
Sale 104
10434
84% 85% 85
85%
100%
105*4 Jan '13
85%
84% J'ly '13
943s Sale 93%
9438
91% J'ly '13
65% Sale
64%
65%
65
May'13
87
90
Apr'13
100% 101% Oct '12
1940 A-O
1943 J
Gas and Electric Light
124% 122
-
Reading
Co gen g 4s..."—1997
J-J
Roistered
1?97 J-J
83
May'13!
85%
85%
94% J'ly '13
97% Jan '13
85
J'ne'13"..
101% 104% 101% JTy *13
109
109% 113
J'ly *13
—„
I
guar 4s
Philippine Ry 1st 30-yr
Gas and Electric Light
Kings Co EiL & P g 5s
1937 A-O
Purchase money 6s...—.1997 A-O
M-N
J-J
—19^5 J-J
g 6s
1st consol geld 5s
MISCELLANEOUS BONDS—Continued
I
A-O
Q-F
—1939 M-N
Pt Huron Div 1st g 5s—1939 A-O
Sag Tus & H 1st gu g 4S..1931 F-A
J'ne '081
~8S~*8 "88*4
M-N
FUnt &; P M
Apr'12
98% Nov'11
....
F-A
J -d
88
98
90
.....1942 M-S
92*4
92%
100%.
111
*
Ch&WM 5s
Apr *12
130% Jan
123% Mch '12
...
A 1942 J-J
..1942 A-O
88%
,105
.
j-j
Series E 3Ms guar g
1949
Series F gu 4s g........1853
Series G 4s guar..
1957
C St L & P ,1st con
g 5s—.1932
Peo& Pek Un lstg 6s—*..1921
2d gold 4Ms
.61921
Pere Marquette—Ref4s...l955
Iid%| 111% Moh'11
.
J-J
1921
P C O & St L
gu4Ms A—1940 A-O
Series B guar..
1942 A-O
Series O guar..
...—1042 M-N
Series D 4s guar
1945 M-N
....
106
...
Series B 4Ms..
Series O 4s
£.
Men'12
108
Sep '12
119% Mch'12
99% Nov 'H
86
86%
J'ly '13
86
84% May'13
903s Sale 90%
90%
90% Sale 90%
90%'
90%l 93 Oct '12
102%
ser
9234
...
96%
,
1921
Series C..
1040 j-j
GrRJt lex lstgu g
4^s_1941 j-j
Pitts Y & Ash 1st cons 5s_1927 M-N
TolW v&
108
23
Registered
..1940 J-J
JL& S 1st gold 3>$s
1951 M-S
1st gold 3^s
1952 M-N
20-year debenture 4s...1929 A-O
N Y Chic&StL
lstg4s_.1937 A-O
Registered
1937 A-O
Debenture 4s
1931 M-N
„
96%
98
J-D
1942 A-O
1948 M-N
Series D 3^s—1950 F-A
Erie& Pitts gu g
3^s B..1940 J-j
105%10/
102
93
M-S
M-N
Ogu4HsA._.1931 j-j
—1933 J-j
Feb '13
....
M-N
D.*..1944 J-d
Dec" 12
"90V!
110%.
u
1996
Guar 15-25-year g 4s
-.1931 A-O
CinLeb&; Norgu 4s g
.1942 M-N
CI & Mar 1st gu
g 4^s_.1935 M-N
C1& P gen gu
g
"88% "98K
Apr '13
83% Feb *13
80
....
Q-F
a2047
Series B__
Int reduced to
3>$s
Series C 3^s_..*
131% Jan "'09
102
J'ly '13
105%! 101
...
115% J'ne'13
Guar 3^s coll trust
reg—1937 M-S
Guar 3 ^s coli trust ser B.l941 F-A
Trust Co ctfs gu g
3^8—1916 M-N
Guar 3Hs trustctfsC..
1942 j-d
Guar 3 Hs trust ctfs
97% Aug *11
112% II
101% 107
119
ol915 J-D
4^s
Oct *02
87%
123
1997
Guar 1st g 4
Oct '12
105
123
95%
100
Sunbury& Lewis lstg4s. 1936] J-j
UNJR14& Can gen 43—1944 M-S
Pennsylvania Co—
80
77% May'13
98
99
.
Jan
4s 1997 Q-J
Registered.
76*4
76
98% Jan '13
"§3 "HI
100
100
1940]
90
75
..
"00% ZZZ
1931 M-S
..1931
10
J'ne'13
79%
123
.1948 M-N
gen guar g 4s—T942 M-S
D R R R &
R'ge lstgu 4s g '36 F-A
Phila Bait & W
lstg 4s...1943 M-N
Sod Bay & Sou 1st
g 5s
1924 J-J
78
96%
79% May'13
8034
81%
83
100
120
121
Consol gold 4s
88%
J'ne'12
Feb *12
115
AUeg Val
82%
76%
83%
92%
12
1934 F-A
a2047
Registered
105%105%
Feb'13
88
110
*
111
81%
85
Mch"
100
...
...
101
..1934 J-J
Gs_. 1918) j-j
■
108%
111
A-O
jMahon C'i RR 1st 5S...1934 J-J
Pitts & L Erie 2d g 5s...ol928 A-O
Pitts McK & Y 1st gu 6s.*1932 J-J
Michigan Centra* 5s
Registered.....
101
105
Feb T3
J'ly '13
118
1st real est g 4s
........1923
Consol gold 5a
.1919
Consol gold 4s
1943
Convertible gold 3^3
ol915
...
v
2d guaranteed Gs
7634
76
"
106
*
-
100
J'ly'13
79
90
i-i
gu c
91
Sale'
F-A ♦....
Rutland 1st con g 4%s
1941
Og & L Cham 1st gu 4s g 1948
Rut-Canad 1st gu g 4s..1949 J-J
Bt Lawr& Adir lstg 5s...19961 J-J
2d gold 6s
*1996 A-O
Utica & BIk Riv gu
g 4s..1922 J-J
Lake Shore gold 33^s
1997 J-D
Registered
....1997 J-D
Debenture gold 4s
..1928 M-S
v
25-yr gold 4s..........1931 M-N
Registered—i
89
....
J-J
J-J
J-J
J-J
Oswe& R 2d gu g 5s.
el915 F-A
RW4 OT R lstgu g 5s..1918 M-N
Ka A & G R 1st
J'ne'13
Jan *13
93
98%
Mch'13
g 6s._1933
Oregon-Wash lst& ref4s_.1961 j-j
pacific Coast Co 1st g 5s—1946 J-rD
A
ennsyivania RR—
89" "89"
89
85%
110
85%
Apr'13
n
117%
112*4 112*4
80
85%
107% 109
105
81%!
"7914
96
111
Sale
....
...1986 F-A
'
114
488s!
"80s;
g 3^s_.
2000 M-N
Registered
j,
2000! M-N
N Y & Northern 1st g 5S..19271 A-O
N Y & Pu lBt cons gu
g 48.1993 A-O
Nor & Mont lstgu g5s...l916i A-O
Pine Creek reg guar 6s
1932 J-D
R W & O con 1st ext 5s..hl922 A-O
v
96
Apr '13
77
A-O
N Y & Harlem
i
Jan *13
84
90%
110
36
85*4
Aug'09
99%
83%
85%
92%
89%
78
90%
Feb'13
85%
107
100
C C & T 1st
guar gold 5s_.1922 J
Scio V & N E 1st
gu g 4s__1939 M-N
4s
125
118
(wh.is.)1938
Pocah C & C joint 4s...1941 J
g
107
...
Convertible4^s
g
87
241
...
..1996 A-O
Div'l 1st 1 & gen
g 4s_.._1944 J-J
10-25-year conv 4s
1932 J-D
10-20-year conv 4s
1932 M-S
...
89%
88%
73
112
t
77~% "83%
96
96% Feb '13
75
May'13
4734
47«4
85*4 Sale
1932 A-O
1996 A-O
Ry lstConsg4s
Registered
84
87
6
1961 F-A
1941 M-N
1931 M-N
Dul Short L 1st
gu 5s
1916 M-S
St P & N P
gen gold 6s_*.1923 F-A
Registered certificates
1923
St Paul & D.:luth 1st
5s_.1931
2d 5s
1917 A-0
1st consol gold 4s_._...1968 J-D
Wash Cent 1st gold 4s
1948
Nor Pac Term Co 1st
" "82%
78
114
75
New River 1st gold 6s
Registered
StP-.ul-Duluth Div
93%
Oct '12
98
ext g 6s
Registered
100106
79%
,7934|
807g Oct '12
81%
82
64
J-D
J-D
Moh & Mai 1st gu g 4s
1991 M-S
' N J June R guar
Ist4s.-..18ft6 F-A
.
.
88
91*4
101*4 103
10234 104% 105% Jan '13
113
102«4...
J'ly '04
60
65
84
Apr '13
J-J
J-J
Registered
19971 J-J
Debenture gold 4s_...
1934 M-N
*
Registered
....1934 M-N
Lake Shore coll g 3 Hs1993 F-A
Registered.
1993 F-A
Mich Cent coll gold 3M«-1098 F-A
i
106
Improvement &
98%
97%
90% Mch'13
110
J-D
1955
93
99% J'no'12
88
103
{/1992 M-S
Registered $5,000 only..0l992 M-S
Northern Pacific prior I
77%
90
90
102
100
1951 A-O
N O Mob & Chic 1st ref 5s.l960
N O & N E prior lien g6s
pl915
New Orleans Term 1st 4s..1953
N Y Central & H R g 3^8-1997
J'ly'13
101*4 J'ne'13
80
109% Sale 108% '111%
99% Now'12
N YO & W ref
lstg 4s
Norfolk Sou lst& ref A 5s
Norf & Sou 1st gold 5s
Norf & West gen
gold 6s
HlgM
90
73
100%
99% 101%
Feb '09
103
100
J'ne'13
"98 " 103%
99% 100% 102
J'ne'13
102
92
Mch'12
166" III
99
93
102
^
100% Aug'12
....
93
....
95
97%
93%
100
97% May'13
J'ly '13
93*4 J'ly '13
93
101
97%
93
"97%
98
03%100%
Deo '11
85% J'no'12
100*4
IIII
98
Feb '01
100
93
J'ne'IS
J'no'13
100%
Deo" II
97
,
97
102
92
92
"99 "IIII
101%104% 101% J'ly '13
v Due
Nov.
aQptioasaio,
.
Low
Apr '13
73
Sale
Derby cons cy 5s—1918 M-N
New England cons 5s
1945 J-J
Consol 4s..
.....1945 J-J
Providence Secur deb 4s
1957 M-N
General 4s
No.
J'ne'13
88%
82
73
Sine*
Jan. 1
92% J'ly '13
100%J'ly '11
92%
M-N
—19^6
General lien gold 3s
90
...
J-J
prior lien 4j^s.l926
1st consol 4s_;
14
107% J'ne'131
8578 Dec '12
...
85
Nat Rye of Mex pr lien4^s 1957 J
Guaranteed general 4s
1977 A-O
Nat of Mex
J-J
"
...
.1947
'
'
...
8tL& Cairo coil g 4s
- Guaranteed gold 4s
Jasper Branch
Mch'051
""70%
64
113% 11234 Jan '13
83%
83%
82
100
1938 M-S
91* "99%
10
110
'8118 "|2%|
M927
el930
92
Dec '12
...
I10" Hi
MontgomDiv lstg5s
•
MaV12
81
91%
Rang*
or
High
J'ly '13
95
95%
Conv debenturesHs..
1956 J-J
Conv debenture 6s
1948 J-J
Harlem R-PtChes 1st 43.1954 M-N
N & W
103
106%
95% 100
9534 J'ly *13
104
7934
19291J
1033! M-N
Riv& G Div 1st g 4s
Verdi V I & W 1st g 5si-__1926 M-S
Mob & Ohio new gold 6s
1927 J
,
103
87%
108
96
104
102
.
102
104
68% JTy~'13
96% May'11
79%
8078
90
May'13
10U2
102
101% 101%
"W~ZZ I-
....
78%
96
May'13
101% Mch'13
92
96
.1938 J-J
6tL Ir M&S gen con g 5s_1931 A-O
y-' Gen con stamp gu g 5s
1931 A-O
Unified & ref gold 4s
1929. J-J
87
1031? 104%
97% 101%
99%
"85"" 90%;
95%
81*4
99%
77%
J'ly'13
Apr '13
9714 J ly '13
80" Skie
2d extended gold 5s
89%
74
97*4
67%
79%
77%
82
~71" ;
Leroy & C V A L lstg 5s_1926 J
Pac R of Mo 1st ext g 4s
1938 F-A
37
J'ly '13
~ei% "93"
4s
Week's
Range
'Ask Low
Did
xcyii.
Last Sal*
N H &
98
97
1920 F-A
1920 F-A
1945 M-S
1938 M-N
.1959 M-S
1919 F-A
1948 J-D
R—(Con)—
Cent New Eng 1st gu 4s—1961 J-J
Housatonic R cons g 5s
1937 M-N
NY W'ches&B
lstserI4Hs 46 J-J
97
101
C1917 M-S
.
1st collateral gold 5s
91
May'13
97
95
-
II
B & N Y Air Line
1st 4S..1955 F-A
80%
8078
78% Apr '13
102
Apr '13
2001 A-O
_1940 M-N
.
62%
J'neT3j
76%
9234
2004 M-S
1936 J-J
100
95
~9~6u::::
4s lntgU-1926 J-J
1st 5s_.1949 J-J
Mo Kan & Tex 1st gold 4s
1990 J-D
2d gold 4s
(71990 F-A
1st ext gold 5s_._.
1944 M-N
g
88
97% J'ne'12
96% May *12
98% Mch'll
90
90%
7514 J'ly *13
C &
Non-conv
j'ly '131
79*4 Deo '12
79s4
937«
....
Mississippi Central
1st & refund 4s
Gen sinking fund 4
^s
St Louis Div 1st ref g4s
88
Y
Price
Friday
August 1
Nft.
West Shore 1st 4s guar—2361 J-J
Registered
2361 J-J
IJ Y Cent Lines
eq tr 4 H s 1932 J-J
NY New Haven & Hartf-—
Non-conv deben 4s
1955 J-J
,
Mex Internat 1st
BONDS
Y. STOCK EXCHANGE
Week Ending August 1
N.
Since
Jan. 1
[Vol.
j
286
101% 105%
Aua. 2
H.
T.
1913.]
New York Bond
BONDS
STOCK
EXCHANGE
Week Sliding
August 1.
Pries
Week's
Friday
August 1
Hangs or
Since
Last Sals
Jan. 1
Bid
81 L & San Fran (Con)
107
K O Fi S & M con « 6s___1928 M-N
71
K O Ft S & M By ref g 4s_1936 A-O
Registered
,..1936 A-O
K C & M R & B 1st gu 58.1929 A-O
Ozark & Ch O 1st gu 5s g.1912 A-O
StLS W 1stg 4s bd ctfs
1989 M-N
2d g 4sinc bond ctfs
pl989 J-J
Oonsol gold 4s__
60
99
85
8578
77
_
Gold 4s stamped........1950 A-O
Registered
1950 A-O
1 Adjustment 5s—
ol949 F-A
Ask Low
95
80is
77«4
..
817ft
82
83
Safe
....
76
Oct
27
—4
84%
1st ref and ext g 4s
90
80
76
81
•
Refunding 4s_.
...1959 A-O
Atl-Birm 80-yr 1st g 4s..el933 M-S
81%
Car Cent 1st con g 4s__..1949 J-J
Fla Cent & Pen 1st g 5s..1918 J-J
86
'
1st land gr ext
79
84%
88
90
90
107
100%
....
Wash Terml 1st
J'ly *13
102>4 Apr '13
1061ft 105
May'12
Sale
89i4
May'13
88U
92%
J'ly '12
J'ly '13
J'ly'13
102
105
102% 103%
-
,
88% Sale
923ft Sale
89i2
89
907ft
84
100
....
88
...
105
100
108
62
94
110
J-J
...
89
83.
104
88% 98
86% 05lft
399
84
03%
7
90
96%
"88 " "91"
100
100
94
93
106*106%
110
....
112
Feb '07
lOHft
IOH2
911ft
885ft
May'13
J'ne '13
HO
105% 107
101% 102"
101% 101%
Sep '12
Feb *13
971ft 1015ft May'll
Sale 893ft
90
"90"
88%
"87"" "94%
36
J-J
J-J
2d 4s.
1948 J-J
Atl A Yad 1st g guar 4s
1949 A-O
Col A Greeny 1st 6s
..1916
E T Va A Ga Div g 5s...1930
Con 1st gold 5s
1956 M-N
E Ten reor lien g 5s_.„
1938 M-S
Ga Midland 1st 3s
1946 A-O
Ga Pac Ry 1st g 6s
1922 J-J
Knox A Ohio 1st g 6s
1925 J-J
Mob A Bir prior lien g 5s. 1945 J-J
Mortgage gold 4s
1945 J-J
Rich A Dan con g 6S....1915 J-J
Deb 5s stamped
1927 A-O
Rich A Meek 1st g 4s
1048 M-N
.
Sale
"83 " III
82
.
107
95
101
Series F 5s
General 5s
100
1926 M-S
1031 M-S
100
1936 M-N
100
...
con
p
50-year gold 4s
I..1950
Coll tr 4s g Ser a
...1917
Tor Ham A Buff ,1st g 4s__M046
TTlster A Del 1st con g 5s_1928
cons g
J'he'13
103
106
J'ne'13
106
1095ft
Mch'13
1097# 110
107% 112
79~" "79""
101*4 102%
103% 103%
100%
9"8%f6i
Debenture
Am Hide & L 1st s f g 6s
Amer Ice Secur deb g 6
Am Smelt Securities s f 68.1926 F-A
Am Spirits Mfg g Cs_.
1915 M-S
Am Thread 1st col tr 4s...l919 J-J
Am Tobacco
40-yr g 6s....1944 A-O
Registered
1944 A-O
Gold 4s_
i95i F-A
Registered
I"l951 F-A
Am Writg Paper 1st s f 6S.1919 J-J
Baldw Loco Works 1st 5s. 1940
Beth Steel 1st ext s f 5s
1926
1st & ref 5s guar A
1942
Cent Leather 20-year
g 5s_1925
Consol Tobacco g 4s
.1951
Corn Prod Ref s f
g 5s
1931
1st 2,5-year s f 5s.
1934
102
104
108
111
....
101
J-D
105
102
39
J-J
87
J-J
J-J
J-J
"9412
A-O
54
9534
85
99
J-D
....
86
86
Oct '12
34
Feb '07
100% J'ne '13
....
99
95
J'ne'13
99
Feb 13
72
73%
98% Feb '11
73% Sale
..
84
87
10
100" ioo"
01%
mmrnm
91%
47"% "57%
21
54
.
88
Apr
'
" *89"
1027$ 104%
84
95
99%
981$
98%
86%
222
97
887«
95%
93%
*2 108% 112%
6 103% 109
1
86% 93%
6
91
17
105%
10514 Sale 105
90
«
May'll
99
93
Apjr 13
93
MCh'13
90
94
Oct '12
Sale
67
97%
env 6s
93* "9*4"
93
93
96
18
" *98%
J
ti
....1930 J-J
J-J
J-J
J-D
U S Steel Corp—
jeoup ..dl963 M-N
f
10-60-yr
5sfreg
...41963 M-N
Va-Car Chem 1st
15-yr 5s, 1923 J-D
West Electric 1st 5s Dec 1922 J-J
Westinghouse E & M s f 5s. 1931 J-J
103%
93% Sale
817ft sale
93% Sale
....
97
a
Te^Krauh & Telephone
Telep & Tel coll tr 4s..1929
Convertible 4s
.1036
20-yr cony 4 Hs (when iss) 1933
Chicago Telephone 1st 5s..1923
Commercial Cable 1st
g 48.2397
Registered
.....2397
Cumb'd T & T lst& gen 5s_1937
J-J
M-S
M-S
J-D
96
59
83%
84
96%
j:j
NY&NJ
Telephone5sg.l920 M-N
Telep. 1st3c gensf 4)|s 1930 M-N
Pac Tel & Tel 1st 5s
1..1937
South Bell Tel3c T lsts f 5s 1941
West Union col tr cur 5s.
1938
Fd and real est g 4&S....1950
Mut Un Tel gu ext 5s
1941
J-J
J-J
J-J
M-N
M-N
Northwest Tel gu 4>*s g.l934 J-J
96
05% J'ne'12
82
82%
103% May'13
93
93%
807$
817#
93%
93%
95% J'ly '13
96% Feb '13
92% J'ly 13
94*4 Feb '13
58
59%
83
J'ly'13
95
Apr »13
78
76
J'ly *13
10334 10334
10334
99%
99% 98%
8534 83%
83%
98%
99
Sale
100
100
J'ly 13
84
84
84
65%
67%
91%
92
7334
74
94
047# 9434
116*4 Sale 116%
96
96% 06%
115
N5% 115
95
Sale
94%
97
97%
88
95%
98
88
91
102%
91
85
97%
2
146
8
121
...
86
2
4
7384
9478
10
117«4
96*4
22
115%
39
95%
May'13
6
19
J'ly *13
88% Feb '13
94%
9484
98%
98%
94% Sale
98% Sale
83
64
85
85%"
....
22
21
,
99%
83%
987ft
997ft
917ft
85%
98
95%
95%
1027#
Mfc'h"13
49
6
01
92
6
84%
85
98
3
1027ft 102?
88% 921
83% 891
21
94% 100?
98
88
90
89
91% Jan '13
84%
83
Feb '13
83
27
20 '
30
May'13
1007ft
1007ft Sale 100%
99%
997ft
99*4 Sale
9984 J'ly 13
*91% "92""
100% 101.
90®4
100%
Sale
88%
80
87%
100
9134
100%
95%
96% Apr'13
87%
87
.
82% Deo '12
83% Nov'11
96%
06%
85
Aug'12
—
"96%, *97%
62
*30
.
1
31
60
92
89%
807$
911
89
25
27
100
108*
96% 102
98% 102
90% 98
997ft 102*
87% 94
96%
96*
87%
99% J'ly '13
101%
102
29
89
101% Sale 101%
77
Keystone Telephone 1st 5s_1935 J-J
Metropol Tel&Tel 1st s f 5s,1918 M-N
Mich State Telep lst»5s,
1924 F-A
N T
96
58
10-year coll tr notes 5s_.19l7 A-O
Am
96
"82% "82%
J-J
M-N
M-N
The Texas Co conv deb 6s_1931 J-J
Union Bag & Paper 1st 53.1930 J-J
S
...
"96"" *98
67% Sale
A.'21 A-O
J-D
17
....
90%
A-O
19511 F-Ai
J'ly '13
99%
J'ly '13
10134
101% Sale 101%
99
09% Jan '13
93
90
93
J'ly '13
118
J'ne'13
115%
117% J'he'13
92%
Inter-ocean P 1st s f 5s._ 1931
O
Repub I & S 1st & col tr 5s.l934 A-O
10-30-year 5s s f
....1940 A-O
Standard Milling 1st 5s
.1930 M-N
Dec 12
95%
95>4
981ft Feb 13
91°%
92%
92
92%
100%.... 108
99
80
75
61%
70%
Nat Enam A Stpg 1st 5s_.1929
Nat Starch 20-yr deb
5s...J930
National Tube 1st 5s_.....1052
N Y Air Brake 1st conv
6s_1928
Railway Steel Spring
Latrobe Plant 1st s f 5s..1921
91%
64
09
M-N
1951 F-A
Mexican Petrol Ltd
93
1935 J-J
.1929 M-S
.......
05
75
M-N
7s___""Hl944
98
95
99
.1923 A-O
1950 M-S
5s.
49
07%
72
75
Consol convs fg5s__,
Dec'12
49
98
....
103
Int St Pump 1st s f 5s
Lackavv Steel 1st g 5s
1st con 5s Series A
57
62
Sale
-
971ft Sale
95% 9634
92%
1952M-S
105% 106%
13
1027g Apr 13
851ft J'ne '12
90
1107%
Deo *12
91
92
Sale
109
109% J'ly '13
97
79
lOi" III
3>$s...l942 F-A
Stamped
May'13
81
....
lOO"
5
Apr '13
J'ne'12
Sale
....
1
90
77%
101%
31
1334
1
81
F-A
Gen'l Motors 1st lien 6s...1915 A-O
111 Steel deb 43^s__,
..1940 A-O
Indiana Steel 1st 5s
1952 M-N
Int Paper Co 1st con g 6s..l918 F-A
Apr '11
Nov'04
Safe
4s Ser A.1955 F-A
92
99% 101
101%
Olift Feb 13
9414 J'ly '13
851ft J'ly '13
62
90
957#
92
Nov'12
92
8912
90%
"89%
92
107
102% 108%
iot
Sale
05% Sale
-
88%
84
84
108i4
103%
84
100
105
102
Feb '13
68
—65
81
88% 89
F-A
J-D
104
Aug'12
8934 May'13
1061ft Sep '12
100
A-O
4^s__1936 J-D
......
J'ne'13
991ft
1061ft
lOi" 103 105ift
10H2IO384 107%
J-J
F-A
Debenture 5s.
Lorillard Co (P)
102
61
J-J
M-N
Cuban-Amer Sugar coll tr 6s 1918 r,
A-O
^
Distil Sec Cor conv 1st
g 5s_1927 A-O
104% 104%
Mch'13
lOHft
M-N
Lijggett
A Myers Tpbac 7s.l944 A-O
5s
Oct '06
99% J'ly '13
1021ft Apr '11
"9784
p1915 Q-F
_1931 M-N
1919 M-S
1925 A-O
5-year convertible 5s....1915M-S
10334 Nov'12
10434 Jan *13
102
1928 A-O
General Baking 1st 2
5-yr 68.1936 J-D
Gen Electric deb g
63" "64%
1071ft J'ne'13
100
Mch
J Consol 4s Series B
1957 M-N
Vera Cruz A P 1st gu 4^8.1934
J-J
Virginian 1st 5s Series A ..1962 M-N
87u
106
104
105
8512
•
VT and alia
88%
103
92
A-O
F-A
J-J
A-O
y 1st refund g 4s
...1952 A-O
Union Pacific¬
ist RR A land grant g 4s_1947 J-J
Registered
...1947 J-J
20-year conv 4s
1927 J-J
1st A ref 4s_
02008 M-S
Ore Ry A Nav *.on g 4s._1946 J-D
Ore Short Line 1st g 6s_ 1922
F-A
1st consol ; 5s..._.._::i946
J-J
Guar refund 4s.....
1929 J-D
Utah A Nor gold 5s
1926 J-J
1st extended 4s.._._.i033
J-J
79%
86%
Dec" II
10212 ..1. 10212 J'ne 13
91
95
91
J'ly '13
Western Div 1st g 5s
1935 A-O
General gold 5s...
1935 J-D
Kan A M 1st gu g 4s.__.1990 A-O
IV
....
100
5s.. 1955 J-J
Gen refund s f g 4s.
..1953
St L M Bge, Ter gu g 5s..1930
Tex A Pac 1st gold 5s
.2000
2d gold inc 5s..........$2000
La Dlv B L 1st g 5s
1931
•W MIn W A N W 1st gu 5s_l930
TolA O C 1st g5s___1935
107
10534
112
100
"998ft
10
12%
J'ly '13
1
J'ly 'lb
82% J'ly '13
100
Sep '12
77%
77%
103% May'13
*"l" ""3"
49
Trust Co ctfs deposit
.
1051ft Nov 12
79
Mfch'13
.*1916 M-S
__192l M-S
Ter1st
A of Stgold
L 1st
5s g 4HS..1939
1894-1944
107
1021ft 10134 May'13
100% 104
1031ft Jan '13
73
Sep 12
"981210214 983$.
981ft
Va A So'w'nlsfc gu 5s..2003 J-J
1st cons 50-year 5s
1958 A-O
g
78%
86%
78%
100
W O A W 1st
cy gu 4s...1924 F-A
.West NO 1st con g Gs
1914 J-J
Spokane Internat 1st
1
10514 Sep '12
87% Jan '13
110
1051ft
"..1919 M-N
...
72%
105% J'ly '12
641; 64i2 May'13
.
Series E 5s.
101
107.1ft
10434 104%
"75
73i4
82% Feb '14
104
106
J'ne'13
80% Mch'13
® I du Pont Powder
i:J
Bo Car A Ga 1st g 5s
Virginia Mid ser C 6s
Series D 4-5s
46
1025ft
Sep '11
74
82i« Sale
82%
82l2
lOUft 10334 107 Mch'13
791ft
80
791#
105
J-J
13
12%
12%
14
867ft j'ne'13
85%
86%
Am Ag Chem 1st c 6s
Am Cot Oil ext 4Hs
94
11914 Mch'10
1017b Sale 10134
J-J
11%
84
;
J'ly '13
Southern—
M-S
77
Aug '12
Apr *13
May'13
86% Sale
Manufacturing & Industrial
Allis-Chalmers 1st 5s..._
1936 J-J
J'ly'13
105%
"73%
Nov '12
95
100
Jan '13
"82"" "88
J-J
A-O
64
s f 5s... .1922 J-J
Winston-Salem S B 1st 4s. .I960 J-J
160"
104U May 12
IO914 Sep '12
110
Iof%IHI
.......1994 J-J
May'13
65
95
Wis Cent 50-yr 1st gen 4s. .1949 J-J
SupADul dfv & term 1st 4s '36 M-N
1041ft 106
90
30
48
80
90
flli2
104%
10514 105U
96
84
40%
48%
49% Sale 49%
40%
102% 107% 102% J'ly '13
J-J
104
83
Mch'13
May'13
Mch'13
52%
80
F-A
M-S
99
50
Nov
A-O
7
12
J'ne *12
80
....
No
90
52% Sale
49% Sale
A-O
20-year equip
w
100
100
,
86i2
86i2
917ft
941ft
44
::::
A-O
J-J
A-O
88«4
A-O
J-J
High
10234
05%
10312 102i« j'ly <12
100% 105
M-N
J-J
A-O
M-N
Ore & Cai 1st guar g 5s..1927 J-J
8o Pac of Cal—Gu g 5s_.1937 M-N
\ 8b Pac Coast 1st gu 4s g.1937 J-J
* San Fran
Terml 1st 4s._1950 A-O
Tex A N O con gold 5s..1943 J-J
8o Pac RR 1st ref 4s
..1955 J-J
.
West Maryland 1st g 4s.. .1952
West N Y & Pa 1st g 5s.. .1937
Gen gold 4s_
.1943
Income 5s
dl943
Wheeling & L E 1st g 5s.. .1926
Wheel Div 1st gold 5s.. .1928
Exten & Impt gold 5s
.1930
RR 1st consol 4s
.1949
....
'
Registered
..1994
Develop A gen 4s Ser A..1956
Mob A Ohio coll tr g 4s_.1038
Mem Dlv 1st g 4M-5s
1996
St Louis dlv 1st g 4s
..1951
Ala Cen R 1st g 6s...
1918
Atl A Danv 1st g 4s
1948
3Jt£s.. Il945 F-A
.1945 F-A
1st 40-year guar 4s.
102
102
101
gu
II" *97*%
%
Trust Co certfs.
w
J'ne'12
101
89
Cent Pac 1st ref gu g 4s..1949 F-A
Registered
..1949 F-A
;
Mort guar gold 3%s..*l929 J-D
Through St L lstgu 4s_1954 A-O
GH48.AM& Fist 5s.l931 M-Ni
Gila V G & N 1st gU g 5s_1924 M-N
Hous BA-WT 1st g 5s..1933 M-N
1st consol g 5s
Wab Pitts Term 1st g 4s. -1954 J-D
Cent and Old Col Tr Go certs.
Columbia Tr Co ctfs
2d gold 4s__
II1954 J-D
917ft
103% 103%
10314 Jan '18
,104
Nov'12
5s__...19S0 J-J
J-J
J-J
J-J
J-J
Southern Pacific Co—
Gold"4s (Cent Pac coll).*1949 J-D
Registered
*1949 J-D
20-year conv 4s
01929 M-S
g
Consol gold 5s
...
1943
Ga & Ala Ry 1st con 5s..ol945
GaCar& No 1st gug5s..l929
Seab & Roa 1st 5s_
..1926
1st guar 5s red
1933
H & TO 1stg 5s intgu..l937
Gen gold 4s int guar....1921
Waco& N W dlv 1st g 6s 1930
A & N W 1st gu g 5s
..1941
Morgan's La A T 1st 7S..1918
1st gold 08.
.......1920
No of Calguar g 5s
1938
73
Ask Low
102% Sale 102%
95% Sale 95%
47%
Des Moin Dlv 1st g 4s.. -1939 J-J
Om Dlv 1st g 3)$s
-1941 A-O
...
TolA Oh Dlv 1st g 4s... ..1941 M-S
J'ly '13
84l4 Mch '13
Last Sals
48
"85%
79%
J'ne'13
J-J
Do
Stamped.......
Det A Ch Ext 1st g 5s.. -1941 JtJ
"66% "77%
76
M-S
-1956 J-J
Equit Trust Co ctfs...
,
124
Weeks
Range or
J-J
*85%
79%
85
F-A
Cent Trust Co ctfs
Do
Stamped....,
....
"73«4
..1939 M-N
991ft 100%
.78
Price
Friday
August 1
Bid
.
7112
EXCHANGE
Wabash 1st gold 69
VV
2d gold 5s
•
....
STOCK
Week Ending August 1.
..1939
Debenture Series B
..1939
1st lien equip s fd g 5s__. -1921
1st lien 50-yr g term 4s. -1954
'09
851ft Feb '13
81
J'ly '13
t.
N,
Low. High
105
11314
65
78
1
70i2
77i2J'ly 12
10312 J'ly '12
09% May'13
857ft
86
79
J'ly '13
773ft
7712
1011ft Apr 07
8034
80«4
104
*7212
HO.
1
107
287
BONDS
Hangs
High
IO8I2 107
71i2 70i2
7914...,
1932 J-D
Gray's Pt Ter 1st gu g 5s_l947 J-D
8 A A A Pass 1st gu g 4S...1943 J-J
8P&NP 1st sink I g 5s...l919 J-J
Seaboard Air Line g 4s....1950 A-O
•
Record—Concluded—Page 4
89%..-.
100
100
9978 102
97% J'ly 13
97% 99
103% May'll
06%
*96% *96*% 96%
97
97%
97% Sale
98*4
981ft 98% 98%
97
97
100%
J'ly'13
887ft 88% J'ly 13
112
"I
m
'#
-
1
100
101%
97
101%
....
90" un
104
J'ne 11
93
Jan '13
MISCELLANEOUS BONDS—Concluded.
Coal & Iron
Miscellaneous
Buff & Suaq Iron a f 5s....1932 J-D
Debenture 5s...
_al02G M-S
ColF& I Co gen sf g 5s...1943 F-A
Col Fuel gen 6s._
1910
•Col Indus 1st & coll 5s gu
1634
•Cons Ind Coal Me 1st 5s
.1935
Cons Coal of Md lst&ref 5s 1950
r
M-N
F-A
J-D
J-D
Gr Riv Coal& O 1st g 6s__/j1919 A-O
Kan AsHC&Clstsfg 5s.l951 J-J
Pocah Con OolBer 1st s f 5s.l957
St L Rock Mt & P 1st 5s...1955
Tenn Coal gen 5s__
1951
Birm Div 1st consol 6s...1917
...
J-J
J-J
J-J
J-J
al917 A-O
Tenn Div 1st g 6s
Cab O M Co 1st gu g 6s..1922 J-D
Utah Fuel 1st g 5s
...1931 M-S
iVlctor Fuel 1st • f 5s...
1953 J -J
'Va Iron Coal&Obke 1st g 5s 1949 M-S
86
....
97
J'ly 22
80
75
J'ne'13
"75"" *75*
•1 i i 1
11 1
93% 98
102%.... 107% J'ne'12
82
83
807$
82
1
C5
III* *02%
100
.
-
81
93
J'ne'11
Oct '12
Jan '13
08
86
86% J'ne'13
82
80
80
99% 997ft 9934
9934
101
10034 102
Apr 13
100% 1017ft 100% J'ly *13
103
II-I *80 " 80*
92%
°
——"
93
-t
1
1
•
1
Consol 5s
92%
1
1
rnmmm
mmmm
Bldgs 5s guar tax ex.
Chino Copper 1st conv 6s
1
>
rnmmm
mmmm
Inspir Cons Cop 1st 6s (rects)..
*98* "98"
----
9
87761 MgeBond (N Y) 4s
73
80
101
100% 102
....
103
103
*79**4 "80
....
98
92
*
—
-
No price Friday; latest bid andaaked. a
Due Jan. JDue AB£lL_*DueJday. iiDua
1960 A-O
1921 J-J
Int Mercan Marine 4^3-..1922 A-O
Int Navigation 1st s f 5s
1929 F-A
ser 2..1966 A-O
10-20 yr 5s series 3....
1932 J-J
86
99*4 103
6
,
•
85
77%
103
May'13
62%
1955 J-J
i
102% Apr '06
96
103
1
99%
93%
1
1
Adams Ex coil tr g 4s
1948 M-S
Armour & Go 1st real est4^s '39 J-D
Bush Terminal 1st 4s
1952 A-O
Morris & Co 1st
s f 4^8...1930
N Y Dock 50-yr 1st g 4s...1951
Niag Falls Pow 1st 5s
1932
Ontario Transmission 5s
.1945
Pub Serv Corp N J gen 5s_.1959
RayOonsGopper 1st
conv
Wash Water Pow lst;5s
J-J
F-A
J-J
M-N
A-O
791ft
89*4
70%
89%
89
80
92
89%
94
94
90
94
122
190
80
90
May'13
92
94
May'13
94
82
87
Apr'13
150
165
140
J'ly'13
95% 98
957$
96
60
60%
60% 60%
78
80
79%
79%
79% Sale
90
Sale
89
99% May'13
86% J'ne'13
82
May'13
80
101%
101% Sale 101%
90
89%
6sl921 J-J
103
..1939 J^J
100
92
102
99%
61
82
100
99%
89%
84
102%
90
105
Deo '12
T——
June.: *.Due July. * Due Aug. 0 Dua Qou a Due Not*
1
94% 108%
56% 66%
75% 79*1
Deo'12
89%
90
104*4 104
....
82%
s Due
..n
Deo. s OpUonsala._i
288
STOCKS—HIGHEST AND LOWEST
Sales
SALE PRICES
of the
Saturday
July 26
Monday
July 28,
*
■
i
.
*
Aug.
July 31 r
.
.
Week
Friday
Thursday
Wednesday
July 30
Tuesday
July 29
30
•
*90%
261,
*7
*3
85
♦Ill"'
91
"91"
26%
7%
3%
;
..
----
6%
•——
40
30
♦
90
"92%
92
7%
*3
30
*IIIi
27
92%
27%
*7
7%
712
3i2
July'13
16% July'13
*3
*15
mmmm
*15
'mm
*30
mmmm
*30
6%
*6
mm
7
*6
6%
*——
40
*——
27%
Nov'12
; Last Sale 41
*6
7
*6
' 7
21 Streets W Stable O L,100
40
92%
26%
7%
26%
*7%
7%
*3
3%
mmm —
,3%
Sale
Last Sale
"'
Last Sale
7.
92
92%
26
26
*7U
Do
'
40
*——
June'13
July'13
28
Last Sale 70
*92
92
263,
*7%
*30
; Last
•
90
"92"
•15
6%
*
*——
90
271,
<7%
A 31,
26%
•15
•30
30
Lowest
Railroads
Chicago Elev Rys comlOO
Do
pref
100
95 Chic Rys part ctf "1".._
1,374 Chic Rys part ctf "2".„
50 Chic Rys part ctf "3"...
Chic Rys part ctf "4"
Kansas City Ry & Lt.100
,
Last Sale 46
.
82%
83%
33%
93%
341,
9334
33%
933,
*——
440
440
•
130
130
*44 "
.•44"
45
•97
128
•51%
78%
67
98
*127
*51
53
130
Last Sale 130
*40
•97 A 97%
*51
53
53
*78
"52%
"52%
52%
*203
205
•142
143
143
144
144
144
••
57
•51%
62%
»9% ,10%
143
FsfiJ P.
18
J'ne
4
J'ne
"8 T
38
6
J'ne
11
3
Oct
67, Jan
25
Sep
14% Aug
Oct
MchlS
45
21% J'ne 10
3
6
MchlS
85
9% Jan
45
47
Oct
91
Feb
126
Feb 11
325
Feb
405
May
131
Jan
135
Sep
J'ly
Apr
61
Oct
11% Jan
42
97
J'ly 15
J'ly
103% Jan
2
100
Aug
Feb
126
J'ne 10
139%
Jan
3
138
Dec
71
Jan
3
897, Jan
60
Fisheries com-lOO
pref
J'ne
5
100
Do
77
pref
117, Apr
J'ne
52
46% Jan 31
129% Jan 30
135
1st
60% Jan
Mch
Jan
J'ne 11
81
0
500
1
Jan 13
65
45
Mch
39
6
77
Jan 29
49
Mch
Feb
53% J'ly 25
44
Mch
65
-
106% Oct
1987, Mch
70
Deo
95
J'ne
65% May
651| Oct
212
Jan
7
184
Jan
222
J'ne
145
Jan
5
135% Jan
150
Moh
8
J'ne 10
16% Jan 31
10
Feb
100
77
Feb 11
77
Feb 11
87
Oct
100
98
21% Oct
87
Oct
'
"99"
99"
~99%
99%
"55% "99~34
"99%
f
*31
33
*31
33
*30
*30
•'
*96
97
*96
97
*96
•
65%
'm--m
■
m'—
•74
—
#
*—
''-mmmm
*74
77
—
77
—
mm"
•116
120
118
119
♦118
120
1117
118%
118
•116
120
*116
120
♦116
120
*116
120
>
116
*114% 116
*114% 116
*113
♦113
'
116,
•113
•40
\*89
115
42
♦40
92
*89
42
*90%
•16
; *39
174
115
115
*75
80
91
91
*70
80
91%
♦90%
91%
19
*16
19
41
*39
41
174%
•119
24
*21
24
»83
86
*83
86
.
,
18
115
*75
80
91
91
—
6%
61,
•
Bg
.
rn.rn.mtm
6%
5%
"58%
1%
59%
mm--
*
1%
♦
~58%
58%
~50% 59%
1081,
108% 108% *108
109
•10
*10
15
15
•10
Apr" 13
"""56
♦21
♦2l"
24
•212% 220
104%
104% *103
——
——
"59"
69%
5%
*103"
24~
Carbon
115
J'ne 12
100
118
Mchl9
128% Jan
3
123
Jan 14
122% Oct
113
J'ne
122», Feb 17
118
Jan 25
103
Mch
135
Sep
115
Feb
120
Jan
61
J'ly
67
Apr
,-100
J'ne 27
35
Jan 27
63
*
104" "j'ne
10
115% j'ly"24
J'ly 10
90% J'ly 23
25
Apr 25
82% Jan 25
101% Jan 13
65
pref
-—100
Rumely common
—100
Do
pref
——100
103% Jan
80
Deo
Feb 21
69
Dec
98
t
04% Dec
97% Feb
214% Jan
100
50 Studebaker Corp com.100
117
MaylO
124% Feb 17
121% Jan
Feb 13
307, J'ly
Do
com,
pref
pref
220
34
J'ne 11
1077, Mch
Quaker Oats Go_100
Do
pref
—100
195
J'ne 12
280
Carbide Co—100
Do
rights
Unit Box Bd A P Co-100
__
99% J'ne 24
148% J'ne 10
5% J'ly 31
Wool worth, com
Jan
1
,
105% Feb 19
9
J'ly 22
87% Mch 24
100
6
98% Jan
Feb 15
Jan
215
Oct"
122%
94% Apr
,107% Apr
987, Nov
,1031, Oct
221% NOV
125% J'ne
49
Aug
97% Aug
109% Apr
397
NOV
110
Jan
NOV
108% Feb 15
206% Jan 10
6% J'ly
9
,13534
May
234
1% Feb 10
"""%
May
""£% Jan"
17
J'ne 11
50
100
com
Deo
92
101
U S Steel
99% Apr
Jan
140
2
100
267 Ward, Montg'y A Co pref
Western Stone.—i... 100
May'13
23% J'ly 29
!
6
-100
-
Co,
&
130% May
100
J'ne 11
T.860
ll"juiy'l3
2
111% J'ly 14
76% Auf
161% Apr
Dec
114
J'ne 25
59%
109
105% Dec
67
May
J'ne 12
105
42
6^4
July'13
59%
Jan 23
100
100
—100
preferred
131 Union
154
3
155
13
104%
5%
534
Last Sale 91%
....
-
pref
Do
Do
154
Last Sale
15
*10
pref,
National
110% Feb
pf-100
National Biscuit
518 Swift
597,
109
109% •108% 109%
73% Sep
1267, Sep
18 The
158
59%
Jan
Dec'12
Last Sale 1% »
1
66
104% 104%
Last Sale 92
*156
J'ly 15
J'ne 30
,100
60
-
104% 104%
156
64
2,830 Sears-Roebuck
168% 170%
215
•
15
15
Last Sale 25
'«1
104%
100
Pub Serv of No 111 com 100
'
•mmmm
86
mmmm
mmmm
—
June'13
91%
42%
42%
170% 171%
''"rn'Smm
24
•21
*83
86
102% Mch
'""l23 People's Gas LACoke.100
Last Sale 68%
'
80% Sep
Dec
Do
92
*89
92
♦90%
•
Dec
Pacific Gas & El Co—100
1151, 115%
121
104%
104% 104%
104% 104% 104% 104%
215
*212%
•212%
*212%
*103
•103
104
104
103% 104
104%
157
157
155
156
156
158% 158%
■m
*89
63
97
Do
July'13
,Last Scile 11% July'13
18
121
'
*83
92
115
7"~72
*114% 116
Last Sale 113
.
42%
42%
,17034 174
173% 174%
*119%
23%
23%
;
*89
*16
42%
42%
•
mmmm
i *21
t-
♦16
174% 175
*119%
42
Feb 13
98% Jan 14
76% Jan 31
Do
Ma?l"3
Last Sale 119
mmmm
•41
92-i
1153,
80
♦113
53
Meh22
Knickerbocker Ice
""285
113
♦114% 116
*114% 118
i
—
42
*41
♦89
92
115% *115
|:*70
i
'~m-mm
MchlS
94
100 Internat Harvester OolOO
Aug" 12
Last Sale 76%
77
J'ly
28
pflOO
10 llinois Brick
''mmm,m
''mmmm
mmmm
*74
,
111% Feb
103
Goodrich (B.F.) com.100
Hart Shaff A Marx
340 Diamond Match
"
-
'
107
*74
*98
65
65
65%
107"
L
77
32 ;
97
Jan
Jan
19% Nov
130
Do
93% Jan
104% Jan
40
Corn Prod Ref Co comlOO
July'13
Feb'13
100
99%
9934 100
99%
June'13
Last Sale 29
31
Last Sale 97
July'13
97
*
65%
65% *—- A 65%
Tifistt
XJLLOk
27% J'ly 28
8% Jan
2
4% Apr 5
9
pref
100
25 Amer Shipbuilding
100
126
Do
pref
—100
Amer Telep & Teleg—100
Last Sale 10
11
*10%
J'ne
73% J'ne 10
40
J'ly
"
"114
47% J'ne 12
90 Chicago Title A Trust 100
200
Apr 26
385 Commonw'th-Edison.100 ,125% J'ne 10
53
143
144
143
J'ne 10
16% J'ly 24
100
—100
Radiator
Cal & Chic Canal & D 100
Chic Pneumatic Tool_100
204% 204%
204% 20412
„
18
Apt
40
Nov
J'ne 10
J'ne 18
30
July'13
Last Sale 50
Dec
435
Booth
June'13
■\ Last Sale 50
79%
79% *78
•78
79%
♦
44
83
"5%
Do
Last Sale 126% July'13
May
J'ne 28
100
American
July'13
90
102
100
2.800 American Can—
Do
550
pref
32%
9212
440
98
791,
3U2
92%
v
Last Sale 440 June'13
"44"
f
57
i
93
44
205
10%
33
93
129
204
*9%
32%
98
205
10%
93%
"
.
98
•203
>* *9%
33
93%
-
45
79%
53
"
82
127% *128
*
57
"53"
53
52%
♦
♦51
78%
78%
*_
130
♦44"
45
98
78%
•
440
*
"~
♦
128
97%
33%
93%
93%
*127
97%
♦127
33%
Jan
3
Jan 20
35
91
Jan 14
6% J'ne
pref
-,-100
Miscellaneous
'
A
Highest
24% J'ne 4
70
J'ly 16
30
(1912)
Lowest
Highest
88
2
Do
Mar*13
,
pref,
Year
Kongo ft* Year 1913
Shares
1.
-1
Range for Precious
STOCKS
CHICAGO 8TOOK
EXCHANGE
68% Jan
105i, Jan
2
58% Feb
109% J'ly 29
2
14% Jan
Jan
112
9"
Sep
80i, Sep
15"n"oV
3
Dividend Record
Chicago Banks and Trust Companies
Capital Surp. A
Stock, t Profits, t
NAME.
».
(00a om Uted.)
Dividend Record
In
In
Per¬
1911.
1912.
iod.
Last Paid.
Bid.
Ask.
Capital Surp. A
Stock. T
NAME.
In
In
Per¬
1911.
1912.
iod.
Profits T
(00a om Uted.)
Southwest Tr A S
Standard Tr A Sav
Last Paid.
% Bid.
Ask.
Union Trust Co..
$200,0
1,000,0
200,0
1,200,0
West Side Tr A Sav
400,0
Woodlawn Tr A S
200,0
Stockmen's Tr A S
•
$191,3
$200,0
100,0
Central Mfg Dfst
2H
""($"
65.5
T22.5 Org. J
rl6,7 Beg. b
200,0
260,0
None
An
27
'13.
an.
us.
Oct 7'12
10
10
21,500,0 10,094,9
16
10
3.000,0 6,413,5
6
6
,200,0
113,0
10
10
382,6
750,0
8
60,5
6H
200,0
17
12
10,000,0 12,028,9
12 H
12
u>229,7
150,0
Prlv ate Ba
567,7
1,000,0
8
8
831,5
2,000,0
«22,0 Org.N or 25
200,0
2,000,0 1.196,8 Notpu blished
200,0
r35,0 Beg. b us Aug
10
10
215,7
400,0
r4,4 Beg. b us .Apr
200,0
Drexel State
.
200,0
59,4
614,4
1,250,0
200,0
;Nat Bk of Re pub.
Ogden Avo State.
People's Stk Yds S
Second Security.
Security
South Chicago Sai
South Side State.
State Bank of Chl<
State Bank of Italy
Stock Yards Sav.
744,7
116,0
,101,2
6
200,0
*200,0
200,0
600,0
200,0
400,0
200,0
200,0
1,600,0
200,0
250,0
1
rl 0,6
6
6
f48,6
5
6
500,0
TWashingt'nPkNa
100,0
•Central Tr Co of B1
4,600,0
500,0
Sav B AT
i
[Chicago Title A Tr
Colonial Tr & Sav
1,000,0
5,600,0
1600,0
>Cont AComTr AS
8,000.0
[Drovers Tr A Sav
[First Trust A Sav
[FtDearbora Tr A S
5,000,0
rGroenebaum
Sons
Guarantee Tr A S
Harris Tr A Sav
1,500,0
Illinois Tr A Sav.
Kenwood Tr A Sav
Bake VlewTr A Sav
BaSalle StTr A Sav
liberty Tr A Sav.
Market Tr A Sav.
Merc'ntileTrASav
Merchants' L A Tr
[Michigan Ave Tr
; Mid-City
Tr A Sav
'Northern Tr Co..
iNor-West Tr A S.
;
Old Colony Tr A S
i People's Tr A Sav
Pullman Tr A Sav
1
250.0
250,0
300,0
1,500,0
200,0
Home Bank A Tr.
Sheridan Tr A Sav
8
2,000,0
250.0
200,0
[Chicago City BAT
;Franklin Tr A Sav
US .Aug
1.481,4
300,0
,
v
.
'
10A2#
10
r52,6 Beg. b
8
2,(K)0,0
Union Bk of Chic
(Chicago
mmmm
mmmm
6
6
6
7
7
7.7 Org.N
ov.
27
10
94,9
fl5,9 Beg. b
6
182,3
130,0 ; s
6
20,1
us
49,8 Beg. b
8
252,1
8
,
6
8
6
8
8A2«
115
145
148
282
284
403
409
hk
Q-J
—
mmmm
—mm'
1912
•12.
J-J
note
430
265
130
135
(Y)
p.1004 110
Q-J July '13, 2 " 215
250
Q-M J'ne3Q'13,3
26*1 2 V 95, p 593 130
215
Q-J J'ne 30'13,2
'12.
Q-J
Q-J
Q-J
Q-J
July'13,
July '13,
1H 182
1H 162
July'13.
1%
July '13, 1H
July'13,
IK
V. 95, p. 1944
July'13,
2H
V.93,p.1235
July '13, 2
July'13,
2
July'13,
1H
July '13, 3
2 V. 95, p.523
note
6
52,0
12
12
r71,7 Beg. b
us
Chicago City Ry 6s
134
Chic City A
Chicago Elev Ry 5a
1914 J
Chic Pneu Tool 1st 5s—ol921 J
Chicago Rys 5a
250
260
215
mmmm
mmmm
•
•••
mmm
m
V. 95,
Commonw
225
91
Sale
80%
142
152
450
153
195
115
Tri-City
Sale
99
J
80
-
J
{101
Pub Serv Co 1st rei g 5a. 1956
Ry
&
Lt
trust lien s f 5s
110
118
Union Elec (Loop) 5s
295
300
U S Gypsum
133
-
Consum Gas 1st 5a
1936 J -D {100
Mutual Fuel Gaa 1st 5s 1947 M-N {.—
South Side Elev 4Ha
1st g 5a
Western Eleo Co 5s
180
68
95
96% Deo
"99?, "103%
101
101
100
99% 101%
'12
July* 13
99% 102%
99% June'13
103%
103%
99% April'12
99
July'13
Sale
90
Oct
87
Jan
80
99% 100%
102% 108%
"99" "99*
'12
*13
80
i
{156% Sale
Swift A Co 1st g 5s
285
45
100
134
325
75
49% July'13
997,
100%
93% Sale
220
275
100%
90
94%
77%
81%
49%
Sale
Peop Gas L A C 1st 6s.—1943 A-O
Refunding gold 5a
1947 M- S
425
320
98%
96
'12
NWGL4 Coke Co 53—1928 Q-M
Ogden Gas 5s
—.—1945 M-N
422
J-J
94
93
Jan
76% July'13
1047, April* 12
96
April'12
86%
86%
100% May '12
103% Apriri2
Q-J July'13,
IK 129
10'1 l.V.92,p.l004 215
Q-J
89
88
72
Jan
t 761, .'78%
Mil El Ry A Lt 1st g 53—1926 F-A {103
104%
do
ref A ext 4H8--1931 J - J { 94
94%
J
J
Morris A Co 4Ms—— -1939
86%
t
Nat Tube 1st g 63.
1952 M-N
Nor Shore El 1st g 5s.—1922 A-P
do
1st A ref g 5s
1940 A-O { 98
99
Nor Sh Gas of 111 1st 5a__1937 F-A
North West El 1st 4s
1911 M- S
170
J'ne30'13,2
July '13, 4
1 11 V .92, p. 1537
Q-J July *13, 2H
Q-J J'ne30T3.2
Q-J July'13,
1H
1928 J
Chic Gas L A C 1st 5s. 1937 J
120
99% 101%
797,
92%
93
1913 M-N
5s
Metr W Side El 1st 4a.—1938 F<-A
Extension g 4s
—.1938 J - J
165
20
'13
91%
105% AprU'12
Lake St El—1st 5a
•
13
81
91
897,
Mch '13
1915 F-A
220
"
92
High
91
City Ry A Light Co
204U205H
"
11
Sow
72
93
100
99%
98
for
72%
94
100%
100%
{103% Sale
M-N t
Gen Mot 6% 1st L notes. 1915 A-O
Int Har 3-yr 5% g notes.
0
101
967,
Eleo 6s.—61943 M- S {100
Inland Steel 1st M g 63—1928
148
"90
Sale
Kan
593 117
July '13, 4
88"
81
1924
24
June'13
July'13
88% July'13
96%
96%
92
165
Q-J
J
80
92%
A-O
330
224
82% Aprli'12
96i, May'12
99%
100%
96
NO.
13
July *13
79
series "B" J -D
220
176
m
"p.
1'12 V. 94, p. 484
5s
300
mmrnmmmmm
'12.
-
High
•
Feb
90
96%
215
210
'12.
J
Commonw-Ediaon 63.—. 1943 M- 8
'
Ask Low
91
Range
Year 1911
90
F-A x
1927
..series 'A"
Cudahy Pack 1st M 5a
182
492
4
-
Dla Match Con deb 6s__. 1920
485
July'13,
{ 77
t—
Chic Ry AdJ Inc 4s.„C1927 Mayl X 45
100%
Chicago Telephone 5s
1923 J -D
Cicero Qas Co ref G m—1932 J - J X 90
_
Q-J July '13,,1K 185
GJ July '13, '1H 200
y'10
110
f
J
1927 F-A {100% sale
80
Con Rya 5s_dl927 A-O
257
187
-
1928
222
(H)
J-J July *13, 3
Q-J July'13,
3
1929 J
4J^s_—..1939 J -D
90
Chic Rys 4s.....series "C" F-A
Chic Rys coll 6s...... 1913 F-A
Chlo Ry Pr m M g 4s.cl927 J - J t 70
.Apr 10 '1 l.V.92,p.l004 150
5,000,0 10,249,7 16A4e 16A4e
7A2c
7
200,0
101,8
6
0
200,0
86,7
1,000,0
280,4 Beg. b us. Ma
250,0
28,6 Org.D ec. 6
200,0
T27.5 Org. S opt. 5
250,0
r39,7 Beg. b us J'ly
10
15
3,000,0 7,082,0
200,0
72,2
500,0
fl02,6 Com.b US. Ap
8
8
1,500,0 2,885,1
8
8
250,0
pl50,4
200,0
r52,7 Beg. b us.J'ne
600,0
8
220,5
300,0
8
8
304,2
200,0
3
61.1
Sold
Cal Gas A El unlf A ref 5s 1937 M-N
•
2,779,1
B'd*
Chic Rys 4s
QJ July '13, 2H 255
None Q-M Dec30'll, 4
16
3,058,0
16,7 Beg. b us .Apr 3*11 V. 92, p.929
101,9 Beg. b us-Apr 8'12 V. 94, p.1030 155
10
QJ J'ne30'13,2H
.2 H
290,7
■
Week's
Range or
Last Sale
Cliic Rys
(fl)
217
Price
146
144
2H 210
Friday
195
174
May'13,
HI
July'13,
Aug. 1.
127
M-N
300
Q-J
est
225
143
153
3
QM J'ne30'13,2
Q-M J'ne30'13,3
Inter¬
Auto Elec 1st M 68
135
148
*13,
period
116
370
165
July 13,
-
Bid
140
1H 160
J-J
Week ending Aug 1.
Armour A Co
130
10
122
18. 120
p.
BONDS
Am Tel A Tel coll 4a
365
V. 95,
EXCHANGE
125
255
8
8A2e
9H
140
300
e
8A2*
6185
Q-M J'ne 30 *13,4
—se
8A2S
132.5
106,7
136
110
""e"
"6"
1,586,0
240
100
•12.
Q-M July
429.4
V 51,2
(U>
V. 95, p. 273. 132
230
July '13, 5
8 '11 V. 92,
Q-J
Q-J
Q-J
Q-J
Q-J
.
CHICAGO STOCK
250
6
Chicago Bond Record
mmm
July '13, 2
-~se e
'
216
180
Q-J
19*1
1,911,8 Not pu blished
10
159,4
8H
mmm
255
3
6* QJ July'13,
6H
8
Q-J July* 13.
2H
10A2e J-J July '13. 6
6
Q-J July '13, 1H
8
Q-J July'13,
2
8A2«
Q-J July'13,
2H
10
'
150
112
250
6
10
218
175
Q-J
428
Q-M
Q-M Jne 30'13, 2% 330
12
US .Aug
6
6
rl81,l
20,0
2,102,0
396,2
311,7
{2,263,2
488.4
Q-J
Q-J
Nov I'll
6
12
2.603,0
Q-J
Q-J
July '13, 1H
Jan '13*
6
V.95,p. 1585
V. 95; p. 944
July '13,
3
July T3. 4
July '13, 1H
July '13, 2H
July *13. 2
Jne 30T3, 4%
$r23,S Org. J uly
{—
1924 j"-"j { 90
1914 J - J { 99%
Sale
103
997,
92%
92
Sale
100
Jan
87
87
78
82
76%
81
""86% "aT
13
100
100
951, Sept '12
100% July '11
June'13
99% 100%
93%
93%
115% Sept '12
100%
100%
10
101
10
100
93%
97
101
July'13
100
103
92% July' 13
91
July'13
100%
99% 100%
91%
97%
90%
93%
99%
99% 100%
coil
1923 A-O
1945 A-O {
1922
98% April'12
85
Aprli'12
77
M- S
1922 J
-
J
100
May *12
I—I
90% July'13
added to all
Chicago price
{166"
99% 101
138
Note—Accrued Interest mus t be
a.
Bid and asked prices; no sales were made on this day.
f June 4 (close of business) for national banks and June 5 (opening of business) for State Institutions.
{
price Friday; latest price this week.
| Sept. 1 1911.
Dividends not published; stock all acquired by the Continental A Commercial National Bank,
a Due Dec.
June.
0 Due Feb.
d Due Jan. 1.
e Extra dividend.
h Ex-rights.
4 Capital to be increased to $1,000,000; V. 97, p. 155.
, Sales reported
1*
* Due
^Mlng April 18. ' June 27 1913.
g Dividends are paid Q.-J. with extra payments Q.-F.
r April 5 1913.
s Capital increased to $300,000.
ID^,31A9l^_M.AJWumi9k3.^fE4.^^accwnvaated dlz,_» June.30„ma^FJSft*^9-i8iU.„« Feb.5 191^
*
100
99% July'13
99%
•
"99% Toa"
No
31.
!>••
V. 96, p. 1464, 1134.
1
aug. 2
1913.j
THE
CHRONICLE
489
Bid
Volume of Business at Stock Exchanges
TRANSACTIONS
AT THE NEW YORK STOCK
DAILY. WEEKLY AND YEARLY*
Central A South Amer.
EXCHANGE
Stocks.
Railroad,
Value.
Par
Shares.
1 1913.
Aug.
<
J
Ac.,
State
U. S.
Bonds.
Bonds.
Bonds.
Mackay Cos com
e
•
Monday
94,865
291,997
——
Tuesday
$8,828,500
27,118,700
20,914,300
30,020,000
228,493
327,420
260,095
168,720
...
Wednesday...
Thursday .......—
Friday.———
-
Total
New
$64,000
46,000
117,000
$40,000
20,500
161,000
188,000
40,000
26,000
$7,626,000
$447,000
$475,500
24,062,000
15,628,250
1,371,590 $126,671,750'
Sales
$622,000
1,531,500
1,321,500
1,575,000
1,456,000
1,120,000
Week endino Aug. 1.
<*>
77,000
69,000
74,000
Jan.
1
to
72
40
60
11514
76i2
79
Balto A Ohio 5s 1914...J-J
Bklyn Rap Tr 6s 1918...J-J
Ches A Ohio 4Hs 1914..J-D
ChlcElevRys 5s 1914...J-J
Stock
York
6s April 8
1914—A-<
1913.
1912.
1913.
1912.
1,371,590
1,682,141
$126,571,750 $154,059,100
_.
Par value
Bank shares, par
$300
61,550,033
$4,650,333,350
$500
77,517,509
$7,012,838,125
$349,900
$94,200
Bond's
Government bonds
$475,500
447,000
7,626,000
$4,000
564,500
9,415,500
$8,548,500
$9,984,000
■
State bonds
RR. and misc. bonds.
Total bonds
DAILY TRANSACTIONS
AT
$1,251,100
19,061,200
$1,033,000
15,588,500
299,692,100
.445,395,500
$320,004,400
$462,017,000
'
THE
BOSTON
AND
PHILADELPHIA
Hudson
6s
122
130.*
100
290
300
\
119
\
98
Borden's Cond Milk com.100
Preferred
..100
116
971*
98*4
94*4
105
108
'
99
97
95i4
971*
92
94
98l2
9914
98
99
95
96
Listed
Unlisted
Bond
Listed
Unlisted
Bond
Shares.
Shares.
Sales.
Shares.
"
r
Shares.
Sales.
4,382
12,630
9,271
Wednesday..—
9.083
Thursday
Friday.—.
8,032
4,411
3,444
9,236
8,283
6,702
4,682
3,799
47,809
35,146
Saturday..
Monday
...
...........
Tuesday
—
Total—
...
$18,000
10,100
28,500
23,700
11,200
7,000
2,985
7,003
4,714
9,495
10,506
4,983
$12,100
38,500
47,000
19,100
14,100
$98,500
34,997
39,686
$157,900
27,100
Inactive and Unlisted Securities
Michigan Central 41*8- 1914
99
998s
Minn A St L g 6s 1914..F-A
89
93
Mo Kan A Tex 5s 1915.M-N
96
98
Missouri Pacific 5s 1914. J-D
96
9634
NYC Lines Eq 5s 1913-22 ft 5.50
4Hs Jan 1914-1925...J-J ft 5.50
bond
prices
are
now
98i4
9934
N Y N H A Hartf 5s '13.J-D
996g
997,
Ask
Bid
Street Railways
1st preferred
New
>
York
18
stk-100
15
-J-J
100
60
63
B'jr & 7th Ave stk
140
1G0
Sd mtge 5s 1914
J-J
1st mtge 4s 1950
3
Christopher & 10th St stk 100
100
88
89
—*
...J-D
8238
83
West Penn TrAWatPow 100
10i2
20
1951
Preferred
Chic A Alton
125
Electric, Gas 8c Power Cos
97
100
Cent Un Gas 5s 1927
F-A
Eighth Avenue stock...100
29
34
275
300
New
Scrip 6a 1914
F-A /
42d A Gr St Fy stock...100
42d St M A St N Ave
100]
1st
Os
1910
—M-S
99
220
/_150"
1
3
68 1948 CtIs..F-A
24
•Sixth Avenue stock.... 100
103
100
N Y Mutual Gas L....100
140
150
NY&QE1L& Pow Co. 100
60
70
80
30
N Y A Richmond Gas... 100
25
40
112
North'n Un 1st 5s 1927.M-N
99
Standard G L 1st 5s '30 M-N
100
103l2
50
♦76
78
50
*4514
90
98
75
80
K 5
20
Twenty-third St stock.. 100
Union Ry let 5s 1942..F-A
98
50
Tarry WP A M 6s '28—M-S J
28 A 29th Sts 5s '96 ctfa A-O
Preferred
891* 100
220
260
100
103
Westchester 1st 5s '43. J-J
90
95
Yonkers St IIR 5s 1940. A-O
88
95
...
Preferred
'——
....
Preferred
Brooklyn
'31^-0
98
101
A-O
94
97
Brooklyn City RR
10
Bklyn Hgts 1st 5s 1941. A-O
Coney Isl A Bklyn
100
150
155
100
102
98
101
5s
con
65
78
J-J
J-J
78
83
97
100
Consumers Power (Minn)—
100
103
1st A ref 5s '29 opt '14M-N
81
Denver G & El 6s 1949-M-N
90
Nassau Elec 1st 6s 1944 A-O
82
6s
N Wmaburgh & Flatbush—
1st AH 8 July
....J-D
1938
129
42
...
New Orl Rys A Lt com.100
e Preferred
..100
•N Y State Rys com
100
_
•Nor Ohio Tr A Lt com.100
Pub Serv Corp of N J—See
,
70
76
60
64
Stk E
103
104
No Jer St 1st 4a 1948 M-N
77
78
Cons Tract of N J
7U*
73
100
67
85
100
94
96
Pacific Gas A E com.. 1.100
4184
42l2
87
88
88
St Joseph Gas 5s 1937..-J-J
Standard Gas A El (Del) 50
90
*10i4
11
♦36
36t2
85
90
7812
79
.J-I)
100
New'k Pass Ry 6s '30. J-J
Rapid Tran St Ry
100
1st 5s 1921
A-O
104
100
32
234
United Gas A Elec Corp.100
Preferred
100
31
230
76
77
100
103
Western Power
100
14i4
100
45
15i2
45I2
80
90
J-J
98
100
N Y A E R Ferry stock..100
1st 5s 1922
M-N
7
13
60
60
N Y A Hob 5s May '46—J-D
97l2
99
J C Hob A Pat 4s'49 M-N
So J Gas El A Trac
100
Gu g 6s 1953
M-S
No Hud Co Ry tts 1914 J-J
Con M 5a 1928
J-J
100i2
75
77
120
124
97
99
103
90
98
Pat Ry con 6s 1931..J-D
107
6s
2d 6s
1924
1914 opt
A-O
Republic Ry A Light... 100
Preferred
100
Tennessee Ry LAP com. 100
Preferred
100
...
•Toledo Rys A Light
100
Trent P A H 5s 1943...J-D
Per share,
subsidiaries.
a
1
Preferred
100
100~l2
17
18
721*1
14
16
70
72
10th A 23d Sts Ferry..
1st mtge 5s 1919
6
~90
100
Union Ferry stock
1st 5s 1920._
ill any, will bo 0 tad
on a
9
Ex-rights.
preceding page.
*
102
35
58
...100
22
25
97
1 00
..M-N
128
100
100
102.
...100'
3
,..100
50
70
100
98
102.
98
102
164
170
Preferred
...
..100
25
185
•
205
Otis Elevator
5
85
100
* %
1U
76
78
100
94
96
Pettibone-Mulllken Co 100
19
23
...10
..100
com
1st
preferred
..50
•
305
Pope Mfg Co
366"
Pratt A Whitney pref—100
Producers Oil
...100
"
31
Realty Assoc (Bklyn)
100
RemingtonTypewt'r com 100
1st preferred
100
j2d preferred.......
100
Royal B&k Powd com
100
Preferred
..100
2250
Safety Car Heat A Lt—-100
„
71
176
43
Preferred—See Chic Stk
100
100
155
80
90
Standard Coupler com..
Preferred ...........100
55
65
Stern
♦22J4
12
34
30
.100
100.
23
102
^T30\
105 ^ IIO"
35n
32
97 '
96
95
93
185
180
102i2
108
Sears,RoebuckACo—Y Stk E
e
270
95
93
10
100
com
Singer Mfg Co
100
14
38
....
(See also Stock Exchange List)
Tobac.£l
99
♦lSi,
Preferred
—.50
Pittsburgh Steel pref..100
Preferred
145
°s
21*
—.,100
Pittsburgh Brewing
*700
.
95
*4
e
1064
*41
20
40'|
190
78
20
com.—100
Preferred
.
5
Ex
104
110
list
x
lis t.
297
35
s
105
111
100
Sulzberger A Sons Co pf.100
70
90
95
Coal—.100
90
95
Texas Faciflo Land Tr.100
90
290
Texas
175
•
Bros
pref
A Pacific
74
(Geo W) com.
145
il
100
115
TonopahMin(Nev)-jS«<Pbila Stk B
160
180
Trenton Potteries com.. 100
4
7
180
200
100
50
55
195
215
240
250
100
120
Preferred
Tobacco Products
com..
847,
42i2
Preferred
95
81
Preferred
Young (J S) Co
new
..100
United Copper...—..—100
Trow
Directory
•
49
10U2
8234
97
99
101
100
100
190
114
200
100
104
105
100
109
*-
300
U S Express
109
120
US Finishing
140
170
Preferred
135
1st g 5s 1919
Con g 5s 1929
♦46
50
Preferred
761*
•
5U2
170
134
137
195
........—.100
e
98
«
135
120
126
e
30
80
100
s
I Apr 6s 1951 not opt
A
Bronx
A Mtge Guar
Westingh'se Air
Preferred
40
100
Virginia Iron C A C...100
Wells Fargo A Co...
100
Willys-Overland
09J4 101
5
92
28
Westchester
80
26
...100
Preferred.
Col
198
50
31*
23
US Indus Alcohol.... 100
U STit Gu A Indem
95
118
40
85
65
U S Steel Corporation—
Col s f Apr 5a 1951 op 1911
115
35
....
4
J-J
J-J
e
48
160
l4
1
U S Casualty
U S Envelope com....
110
...
90
220
76
list
......100
115
105
93
x
United Dry Goods..—100
• Preferred
100
Preferred
857,
108
125
American Brass.
Preferred
!
1*
100
244
69
♦It*
20
238
2000
«
195
1Q0 1200
New stock (w 1)
Tobacco Stocks
«
185
Ohio Copper Co
e Ontario Silver...
♦29
Heime
50
185
174
80
202
100 7»180
....
120
78i2
198
National Surety
100
New York Dock com_-100
c
c
100
100
Niles-Bem-Pond
295
•"
4
.100
Preferred
315
364
9*
110
124
N Y Transportation
Stand Oil of Nebraska..
Stand Oil of N J (old)..
8i4
105
133
Sou West Pa pipe Lines. 100
Standard Oil (California) 100
Stand Oil of Indiana
5
40
89
100
100
Manhattan Transit
50
25
50
100
l60
98
100
J-D
00m
319
♦
Hob Fy 1st 5s 1946..M-N
N Y A N J 6s 1946...... J-J
100
"314
Amer Bank Note 00m
70
35
100
Preferred
10H*
31,
J-J
com
Manhattan Shirt
*
Ferry Companies
BAN Y 1st 6s 1911
Ingersoll-Rand
International Salt
40
v
/
1st A ref g 5s 1941 op. J-D
And accrued dividend.
Ex-dlv.
com
.
95
25 ♦131
Pipe Line Co..100
Penn Oil...-
Western States Gas A El-
-
♦
J-D
9934 100
100
M-N
Ext
1st g 4s 1949
103
-.
N Y Mtge A Security
100
N Y Title Ins Co
...100
'95"
50
Preferred
16
99
Mortgage Bond Co..
Preferred
United Electric of N J... 100
7
e
"
100
100
•
Stand OH of N J
Standard Oil subsidiaries
.100
Preferred
.._M-3
1st 6s 1922
121
•
92
95
69
342
100
—J.
5
100
Hoboken Land A Improve't
1st 5s Nov 1930
M-N
190
108
123
10
62
150
Conley Foil
120
6
185
100i4
♦86
2
145
British-Amorican
102
100
..100
1st g 5s June 1 1922.. J-D / 57
Hecker-Jonea-Jewell Milling
Indiana Pipe Line Co....50 ♦117
»
National Transit Co
38
...25
New York Transit Co
310
100
89l2 IOH4
No Hud L H A P 5s I938A-0
Pat A Pas Gas & Elec
list
x
Tr ctfs 6% perpetual..._
1st 6s 1933
,
"6212
65
97
lat g 5s 1951
52
A-O \f 50
115
International Silver pref. 100
125
1st 6s 1948
J-D
1081* 110
62
62
334
Vacuum Oil
38
•
Cumberland Pipe Line.. 100
Eureka Pipe Line Co
100
Galena-Signal Oil com.. 100
95
126
98
95
197
Union Tank Line Co....
Hudson County Gas__„160
.10212 104
5412 561* Indiana Lighting Co..—100
74
4s 1958 opt .....
77l2
F-A
• Conn Ry A
65
Ltg com
100
68i2 Indianapolis
Gas.,:
60
e Preferred
100
06
1st g 5s 1952...
A-C
• Detroit United
65
70 " Jackson Gas 5s g 1937.1A-O
Ry
100
Federal Light A Trac...l00
27
eLaclede Gas preferred!. 100
25l2
Preferred
.......100
76
77l4 Madison Gas 6s 1926..A-O
• Havana Elec
84
80
Ry L A P 100
Narragan (Prov) El Co. 60
e Preferred
93
...100
90
Newark Gas 6s Apr '44.Q-J
• Loulsv St 581930......J-J
101
100
103l2 Newark Consol Gas
Buff St Ry 1st con 6s '31F-A
Com'w'lth Pow Ry A L.100
Preferred
100
96
100
Continental Oil
.-100 1193
Crescent Pipe Line Co...50
♦59
147
80
100
Lawyers' Mtge Co
Lehigh Val Coal Sales
Refining
55
1st preferred
Lanston Monotype
100
50
100
00m
1%
83
2d
Internat Smelt A Refg_.100
200
89
Kllburn
*15,
10
100
285
75
A
37
..100
M
161
180
86
'
105
Preferred
90
100
145
Gas A El Bergen Co____10Q
Gr't West Pow 5s 1946—J-J
Other Cities.
102
13
Preferred
......100
General Chemical com.100
•
90
100
Colonial
275
1.33
185
com
Preferred
605
Swan A Finch
128
Elizabeth Gas Lt Co
600
84
350
95
102
20
Standard Oil of N Y
Standard Oil of Ohio...
100
92
99
share
415
Essex A Hudson Gas.... 100
1941...F-A
J-J
Stetnway 1st 6s 1922
81
Per
405
Consumers' L H A Pow—
87
"79"
♦19U
7212
10U
100
1st cons g 4a 1948
Con 8 4s 1955..
BrkC AN 5s 1939....J-J
175
Empire Steel A Iron
78
335
96
1927
90
•
320
99
5s
35
78
Inter con tin Rub
78i2
08
1st
27
1st g 5s 1901...
335
96
Columbia Gas A Elec
87
100
~
2%
130
10O
Preferred
300
...100
15
93
Emerson-Brantlngham.. 106
Hocking Val Products. .100
333
62
100
125
•
183
J-J
i
duPont(EI) de Nem Pow 100
660
Rights
4
♦2
Internal Banking Co
...100
100
Northern Pipe Line Co
Ohio Oil Co........
86
.10
90
" 149"
100
Preferred
100
com
56
105
80i4
£1
Oil
60
'UH
100
com
Preferred
Herring-Hall-Marvin
179
Con Gas of N J 5s 1936.. J-J
Cities Service Co
66
143
2
7012
7012
10t8
.
70
5312
60
Prairie Oil A Gas
12
41
275
Southern
*s8
75
A-O / 50
39
100
Buckeye Pipe Line Co...50 ♦158
Chesebrough Mfg Cons. 100 650
South
77
3U2
60
62
Solar
64
140
31
1061,
,
60
Preferred
2934
64i2
*57
355~"
100
21
100
91
25
♦28
104
....
18
preferred
Havana Tobacco Co
Railroad Securities Co—
345
Preferred
75
100
100
Crucible Steel
Hale
140
Pitts Bess A Lake Erie...50
100
Amer Power A Lt com.. 100
70
100
list
104
.100
Am Lt A Trac com
SO
Buffalo City Gas stock..100
B B A W E 5a 1933
101
96
100
Preferred
20
102
Oil
64
93
Goldfield Consol
100
Preferred
80
48
100
k Hackensack Water Co—
Ref g 4a '52 op 1912...J-J
• 2d preferred
100
Northern Securities Stubs.
preferred
100
com 100
com
»
80
100
99 I4
95
lat
Preferred ...:
Other CUics.
Am Gas A Elec com
Bay State Gas
Atlan Ave RR
98l2 100i2
102i2
J-J
1945
.....100
170
Sou Boulev 5a 1945.——J-J
So Fer 1st 6s 1919
A-O
2d preferred...
100
• NY Chic A St L com.. 100
•
Standard OH Stocks
100
N Y A E R Gas 1st 5s '44 J-J
Consol 5a
100
J-J
134
100
Borne-Scrymser Co
Kings Co El LAP Co. 100
100
2d preferred
preferred
.
West Pac 1st 6s 1933..M-S
100l2 103
114i2 117
J-J
120
100
preferred
Anglo-American
York City
1st consol 6a 1948
•
100
Preferred
100
111 C stk tr ctfs Ser A.....
New Amsterdam Gas—
1001*
Ninth Avenue stock
Consol
0
240
Second Avenue stock
....100
Colo A South com..
1st
9i2
17I2
100
com..
....
Atlantic Refining
110
Scrip 5s 1914..
Preferred
e
e
Railroad
Chic St P M A Om
1st
Davis-Daiy Copper Co
99
x
80
«
98U
97
9812
5% notes Oct'17—See N Y Stk E
•
100
_J-D
6a 1932
10
3D*
93
Dry Dock E B & Batt>—
1st gold
9io
3U4
91
103
1
73
100
4s
10
~
100
69
100
101
98
stock.. 100
1st mtge 6s 1922
M-N
Cen Pk N A E It llstock.lOO
100
94
Westingh'se El A M 6s 1915
e
Preferred
«
Preferred
J-J
1st 6s 1924
...100
75
Wash Ry A El Co
Broadway Surface liR—
Cent Crosstown
69
74
Com vot tr ctfs.......100
99 U 100
Ask
67
2d preferred
;
United Rys of St L—>
City
Bleeck St & Ful Fy
Bid
9834
9712
95
75
«
"971* ~98i2
Seaboard Air L Ry5s*16 M-S
Southern Ry 6s 1916.. F-A
West Maryland 5s 1915.J-J
27
90
Debenture 4s 1951
e
South Pac Co 5s J'ne 151914
100
Preferred
St L A S F 6s 1913 opt-J-D
6s Sept 1 1914 opt
M-S
47
..100
Consol Car Heating..
Consol Rubber Tire
e
2%
Claflln (H B) Co com.. 100
Cluett.PeabodyA Co
99l2
99 I4
e
Street Railways—(Con )
United Lt A Rys com
100
99
M-S
W7'4
•
"and Interest" except where marked **tV
120
129
Preferred
M-N
e
All
110
100
City Investing Co
5%
5%
5%
4Hs Jan 1914-1927—J^J ft 5.60
e
97
Casualty Co of America. 100
Celluloid Co
Continental Can
A-021
<
100
82
Preferred
99i2
"•
■
43
100
99
•
100
Preferred
Lake Sh A Mich So 4i2s_'14
Y Cent 4Hs 1914
4t2s 1915
5s Apr 21 1914
3,314
8,310
6,006
5,544
5,844
6,919
♦2
•
85
81
5
Preferred
Ust,
/ 80
Week endino
Auo. 1 1913.
British Col Copper Co.
Brown Shoe com
•
99i2
Philadelphia.
•
,
i
"79""
50
K C Ry A Lt 6s 1912..M-S
:
Boston.
"»
10
65
60
981*
'15. F-A
2
100
com
Inter
5s
100
at 1
I
99
Preferred)
Bond A Mtge Guar
95
Harvester
1
Bliss (E W) Co
9914
J-J
96
94
93
1914
93
100
95
99
1913—A-OIS
15
4Ha
42
80
98i2
•
EXCHANGES.
Oct
70'.
n,
90
Companies—
Cent
4
100
com
At*
100
185
♦
M-N
Preferred
Int A Gt Nor 5s 1914..F-A
HI
67
Barney A Smith Car
75
Stk Ex
Btocks—No. shares.
98
F-A
Deb g 6s 1939
Amer Writing Paper
120
1915..M-S
Copper 6s
6s 1935-A-O
American Surety
50
American Thread pref
5
Amer Typefounders com.100
69i2
Bid
Misceli—(Con)
Steel Fdy
Deb 4s 1923
Preferred
63
Coll 5s Oct 1 1914...A-O
Exchange.
110
Am
Short-Term Notes
Amal
Erie
1.
Aug.
100
Northwestern Teleg..
Pacific A Atlantic.
Saturday.—
106
66
Preferred
Indust and
64
104
GO
*
Week endino
Ask
6518
•
113
113
...
29
97
65
1141*
1141*
82
43
101
Title
100
165
Brake.50 *.
com...100
55
129^
60
..100
86
92
Worthington(HR)Qo pf.100
79
5 Basis,
ifc Listed on Stock Exchange but usually inactive.
/ Flat price,
n Nominal,
s Sale price,
t New stock,
u
Exr
Includes all new stock dividends and subscriptions.
• Listed on Stock Exchange but Infrequently dealt In; record of aala«<
*Ex-300% stook dividend.
"
•
EXCHANGE—Stock Record.
BOSTON STOCK
290
Saturday
July 26 -
Wednesday
July 30
Tuesday
July 29
Monday
July 28
of the
STOCKS
BOSTON STOCK
Week.
EXCHANGE
Sales
CENTUM PRICES
PER
SHARE PRICES—NOT
Friday
Aug 1
Thursday
July 81
Highest
Lowest
Railroads
98*8
98*8
19812 19812
89l2
90
•185
—.
62
62
•250
260
•
15
•55
05V
99V
99*4
98V
99
987S
♦98
*98
98V
94
93
62V
•250
65
260
*250
260
♦7 V
15
•55
*55
198V
91V
July'13
62V
Last Bale 260 July'13
Last Sale 7V Jun *13
Last Sale 57V Jun *13
«91V
....
62 V
63V
*42
53
♦42
53
•164
166
164
164
105
105
•105
102"
102
•42~
♦164
*42*
53~"
166
*53"
*164
166
105
105
10i"
102
*105
*200
102"
102
102
•116V 120
*115V 117
83
83
•83
83*4
*1157$
•115*8
•821*
84
101
•100
15
141f
•71
7H2
10312
102
2
17$
•83
84
102V 102V *101
15
70*4
103
70 V
165
*161
165
33
♦29
33
•127
—
163"
*29
15V
*14
15
72
74
101V 102V
1*4
•84
84*4
...
148
148
•84
84V
140
Last Sale
84V
♦130
lisvriy'lS
83V *82 V 84
100V
101V *100
♦14
15
•14V 15
73V 73V
73V
74
100V 10178 100V 101
1*8
IV
VA
IV
J*n '13
Last Sale 115
•82V
165
Last Sale
73
71
71
•71V
73
72
72
•86
90
*86
90
*87
90
*86
88
♦86
88
86
87
47
47
47
47
♦46V
48
46
46
04
94
94
94
94
94
94
71$ Feb 19
10
Deo
14
7
70
Deo
80
7
60
Deo
121$ jan
Aug
May
57
163;
7VMch 6
45 Jan 24
Feb 14
166
200
260
290
65
3
Mch
Feb 25
Mcb
6
107
Mch
165
260
119
124
147*$ May
231$ Jan
83
Fob
142*$ Apr
Mch 27
83
Mch 13
126
Deo
Feb
4
16
Deo
pref stamped .100
67
J'ne28
79
6
72V Deo
6,055 N Y N H & Hartford.100
Rights
...
34,534
Northern N H...
.100
99V J'ne 12
IV J'ly 22
130
Feb
Jan
115
J'ne 25
130
"""31
158
J'ne 21
176V Feb 11
...
Old
Colony
100
Rutland, pref.......100
30
MaylS
139 V J'ne 12
80V J'ne 10
130
May 15
70
J'ly
85
J'ly 15
40 Union
Pacific—.....100
Do
pref.........100
Vermont & Mass
100
West End St........ 50
Do
pref......... 50
.
36
Dec
"l28VOcV
143
*174
41
J'ne
Jan
187
6
9
152
Deo
1761$ Sep
937$ Deo
Feb 27
150
Feb.2l
Mch25
162V Jan
90V Jan
150
126
9
214 J'ly 22
170
112
Jan
128
Jan
Deo
J'ne *179
Apr
Deo
911$ Jan
19 V
Do
J'ne
Jan
Jan
J'ne
272
85
88
Apr
May
J'ly
110
82v J'ly 11
100
Jan
1001$ Jan
1071$ Oct
6
Jan 13
122 ' Feb 8
126
Feb 10
Apr 29
J'ne 14
l^ay'13
*71V 72V
•71V
.100
Ga Ry &Elec stmpd.100
Do
pref
......100
Central......100
165 Mass Electric Cos...100
Last Sale 130
72
300
J'ne19
101V J'ne 20
J'ly 9
99 V J'ly 16
iisv J'ly 2
85 Maine
31*" Jun "'13
•71V
218
Dec
Deo
6
......
Fitchburg pref
Nov
94
290
8
12 V
"""""5
♦148V 148V ♦148V 148V
Last Sale 86
July'13
140
pref..
Deo
202
Jan
Jan
97
43
Connecticut River...100
88
•101
♦163
Do
16
—
112
Jan 27
205
'
Boston & Wore Elec Coil.
Do
pref
.......
S3 Chic June Ry & USY.100
*105
—
Last Sale 200 JUly'13
102
*101
102V 102
34
*29
34
*130
2
163" 163"
165
149 V 149 V
150V 150*4
♦84
*127
101V 101V
1% IMs
2V
•29
102
71V 72
102V 104
104
•161
•149V 14912
•83 V
84U
♦14V
15
2
A
102
•
IIU4 Oct
104 V Feb
2221$ Apr
134*4 Mch
1037$ Feb
101V Nov
211V Sep
2
4
2
114V Jan 30
May 6
60
Boston Suburban El Cos.
Do
pref.:.
106V Jan
101V Feb
215
Jan
J'ne 12
250
Mayl4
7V Feb 19
67VJ'O0 6
181/
Maine.....100
Boston &
Boston & Providence. 100
166
*164
166
9
Apr 30
83 V J'neso
190
Boston & Lowell.....100
May'13
Jun '13
Last Bale 43
*164
*105
osvj'iy
91 Boston & Albany
100
1,539 Boston Elevated...*..100
'"701
J'nel2
94
68 Atch Top & Santa Fe.100
Do
10
pref—.——100
~
Last Sale
*
96V
98V
Last Sale 185
62V
64*4
♦250
26Q
•7V 15
15
*97*4
94V
04
—
627g
♦55
967$
977g 9778
: 98V
197V 197V
*98
95
94
•185
64
65V
•7V
98V
197V 197V
95
*185
•185
99V
99V
•98
98V
197V 197V
197V 197V
90
99V
'
year 1912
Highest
Lowest
Shares
Previous
Range for
Range Since Jan. 1
of 100-share lots
On basis
81V Feb
100
Jan
70
89V Sep
Jan
Jan
.
164
Deo
Jan
Jan
8
80
Oet
887$ Feb
3
90
Nov
1031$ Mcb
Miscellaneous
48
47V
94V
378
19V
48V
94
94
4
•312
19
19
94
•3*4
19
111V 111V
114
114V
127V 127V
110*4 111V
114 V 114V
127V 127*4
*76%
~7<r
94
378
19
19V
liov 111V
•3V
114
.
18
♦16
V
76V
63
63
♦62V
•92V
*712
•121a
93
93
93
8
8
8
*10
"ll
,•270
275
1
140V 140V
•98
98V
•90V 91
80
89
1
76V
13
14
10V
10V
*270
140*4
275
88
76
76
*63
65
*63
65
♦64
•92V
♦6V
94
•90
94
93
94
94
13
•13
"l4"
*10
11
*270
275
275
275
140
140
*98
99
90
89
88*4
•
"•3V
•-
*98
89
89
89
218
213
213
94V
90
~90~
90
*89
90
'
2V
July'13
•21
♦21
*21
*21
Last Sale 20
Jun '13
; »66
•66
•66
*66
Last
Sate 66
July'13
147
147
154V
15V
,•154
'
*15
,104V 104*4
27
•26
27V
1:
1
*v
164
164V
46V 46V
*
•27
28
58 V
58V
107V 107V
1*8
•IV
285
•275
i
18V
*iv
\1
32
68V
V
*
♦15"
104V 104V
•26
27V
27V 27V
1
•V
164
164V
46V 47
27
27V
"59
,69V
108
108V
•IV
*267
15V
104V 104*4
•26V 27V
♦26V 27V
163V 164V
46^2 46V
28
1
1
*275
280
iv
32V
69V
32
32
32
33
70V
71
70V
•19*4
*2V
20
28
64V
' 415
11V
37V
38
38
38
38V
•212
3V
13 V
5V
61
6V
17V
25V
65V
418
•3
12V
5V
60V
6*s
16V
IV
28*4
64*4
12
.80
IV
28
410
.
*4
♦IV
•1H2
37V
12*4
20V
2%
2V
,
,
11V
38*4
39
3V
13
5V
61*4
7
16*8
12
5V
47V
81
81
•19V
3V
•IV
6V
20
•5
47V
47V
♦81
•80
19V
♦3V
.3V
IV
♦IV
6V
60V
*V
5V
47V
6V
19V
13
38V
38V
3V
12V
59V
19V
♦312
17«
6V
*4
*6V
*6V
*3
*3
4
♦7
7*4
23V
23V
•1
«IV
•42 V
43
16V
16V
17#
8V
-
_
27V
178
8V
27V
23V
♦V
42V
16V
•1*4
27V
*.70
3V
48is
•76V
•19V
3V
49
78
48V
•77
20V
20
55
67
55
18
186$
18V
•341$
2
7
•251$
35
2
714
26
25
25
•2V
28V
4*s
278
28V
4*s
.98
1
37
37
47
47
IV
•9V
•47t2
•1
•IV
•44
•y
"
•
•34V
178
9V
4778
IV
2
4",
48V
80
2078
56V
18*4
35
2
7V
♦25V
7V
26
25
25V
2*4
?8V
28V
4V
4V
.90
37V
•46V
IV
9V
48V
1
IV
43V
♦V
B! J
,60
17
4U
♦6V
7
*22*4
♦1
42
42V
16la
1*4
16V
2
48V
1
IV
4734
80V
19V
*3V
*1V
*6*1
•4
4V
7
6*4
7
23V
40V
42
16
16
40V
15*4
*1*4
*84
*1*4
8%A
.
26V
*1*4
.80
8V
l*A
27
27
2
.80
*3V
3*4
48V
6V
-
♦IV
•V
3V
16
2
8V
27V
2
1
3V
79
21
75
76
20*4
20*4
68
60
56
18V
187s
18V
18*4
18V
19
♦34V
17S
71a
25V
35
2
TV
25V
85
35
35
24V
2V
♦27
414
37V
47V
IV
9V
48V
.99
•IV
44
V *.60
*34
2
2
7V
25
.25 *.15
25
2V
27V
4V
.95
37V
47V
1*4
9V
48V
1
.90
.25
24
2V
27
4
.85
47V
*1*4
9V
48V
*.99
44
.70
* Aaa'i paid,
48V
75V
21
58
178
712
25V
Last Sale
*24
27V
27
4
*4
16*4
16*4
July'13
"*4V "5"
49
2V
.86
27
4V
37$
JtUy*13
40V 41
*15V 16V
26V
♦3 V
49
*751$
78
20V
20
27
212
27
4
4
.86
88V
47V
1*4
.99
1*4
44
*4
*9
477$
9V
477$
*1
IV
1*4
43V
.70
1*4
44
.70
h Ex-rights,
a
Mch
5
345 Franklin
;
25
...
26 V
J'ne 24
50
J'ne 11
a
Copper.
555 Mohawk
——
416 Nevada Consolidated.
335
95 Osceola
.....—....
25
Aug
17*$ Apr
1091$ Sep
13*4 Jan
981$ Jan
27
May
28
Jan
31
.85
Jan
182
Jan
3
A174
Sep
65*4 Feb 4
28V Feb 3
69
Jan
111
Jan 30
191$ J'ly 29
214 Jan 3
42V Jan
3
80V Jan
2
327$ Feb 10
41$ Mch 6
.
46V
27 V
583$
107V
Jan
DeO
Feb
Feb
Jan
Apr
3*4 Apr
2081$ J'ne
57V Aug
29*4 Sep
80*8 Sep
1163$ Oct
,
11V Apr
J'ly
370
'"V" Deo" *""«V
35,
Deo
60
Feb
241$ Feb
2
Jan
Deo
May
50V J'ne
92*$ Oct
86
Oct
67$
9V
5*4
61*4
83l2
iiv
Apr
J'ne
Apr
J'ne
Aug
Sep
Apr
Nov
Apr
Mcb
Sep
Apr
Nov
Oct
J'ne 19
25
Jan
2
22
Oct
37
J'ne
277$ Jan 10
35
Apr 28
16
May
30
Nov
May
Apr
5
7
Feb
8
IV J'ly 14
18 V J'ne 10
56V J'nell
398
Aug 1
10
J'ne 10
4
Jan
4
45'
Jan
2
J'ne
J'ne 10
J'ly 1
J'ne 10
72V Jan"
Jan
18
Jan
2
4V
216i«
19i$
671$
2
405
471$ Jan
63
Jan
2
555
4
9
9V
Jan
21
J'nelO
3
.60
May 15
J'ly 23
34
J'nelO
23
Jan
4
11V Sep
401$ Jan
69
65*4
91V
87V
31$
J'ne
Aug
Nov
Jan
3
May
22*4 Deo
40
87V Jan 10
85
337* Jan
20*4 Jan
2
Apr
2
3% J'ly 25
3*aFeb
26 V
5V
10V
5V
15V
26i$
Jan
Jan
Jan
Jan
Jan
Jan
2
Apr
65
Jan
4
3
3
3
8
7
_
56
Jan
107
Jan
3
Jan
Jan
Jan
13V Jan
28V Jan
.35
4U Feb
lOVDeo
Jan
Jan
Mch29
Jan
Jan
SVJan
8«a Jan
1934
2V
91$
84 V
2*4
AO
Jan
5
Deo
2*4
233$
16$
501$
I8I4
Jan
Jan
Deo
Jan
Jan
2
Deo
5*4 Jan
.
22*4 Feb
21$ Deo
11$ Deo
2s$ Jan
44
Jan
100
Deo
15
J'ne'
Deo
67
Jan
4V
177$
84i$
IV
487$
47$
2
1
2
9
Jan
8
Jan 18
17
Feb
VDeo
24
Feb
4
1
Deo
3
26
Jan
Jan
9
4
Deo
31$ Jan 28
2i$Deo
34
Jan
6
47
Jan
2V Jan
3
1
1IV Jan
2
9i2 J'ly
40
J'nelO
60
Jan
2
621$ Jan
.90
J'nelO
2
Jan
2
J'ne
4i$ Jan
2
Jan
3
65
Deo
11$ Jan
9
1
Deo
to Half paid.
1301$ J'ne
43
2
J'ne
JanMay
Oct
3
Jan
.40
•04
Not
Jan
• 2d paid,
Sep
Apr
Dee
Oct
Apr
29
2
76
J'ne
243$
6V
9V
393$
8*4
•6*4
13V
95
60
4QV J'ne 12
73
3
43 V
9
914 Jan
18i2Apr
803$ Sep
6V Apr
Mch
40V Jan
«4?s Feb
38
Jan
6
Feb
Apr
8
Apr
14i2 J'ne
721$ Doo
161$ Jan
3
451$ J'ly 7
11$ May 6
7V May 6
1
7l2
16*4
16V
7734
2
J20
l*A Jan *2;
66 V
2
South Utah M & S—
8
J'nelO
27V
50V
Deo
95 Shattuck-Arizona—.
Jan
Feb
7V Feb
.
615
.70
21
22
2
Feb
3
46
J'ne 12
33
2
.
Feb
Feb
*4 Jan
17
Jan
J'ne 30
Feb 19
2
73V Jan
33
1
2
Jap
J'ly
15V Deo
25V Feb
48 V Deo
31$ Oct
12V Jan
67$ Sep
2
Jan 27
10 St
6V J'ly 10
6
15V Jan
22
.
184
4
J'no 10
Unstamped.
Mcb
Feb
158
Jan
15 V
s
Mch
164
Jan 15
28V Jan
80
Jan
Ex-div. and rights,
Jan
107
2
J'nelO
J'ne 11
10
5
Superior———....— 25
699 Superior A Boston Cop 10
115 Tamarack..—..—— 25
455 Trinity
25
1,475 Tuolumne Copper—. 1
1,330 U S Smelt Ref & Min. 60
412
Do
pref
50
620 Utah-Apex Mining—
5
280 Utah Consolidated—.
5
330 Utah Copper Co— 10
75 Victoria———— 25
65 Winona
25
234 Wolverine.———— 25
100 Wyandott.25
Aug
4i2 J'ne
90
Apr
15
Mary's Min Land. 25
1,970 Santa Fe Gold & Cop. 10
1,345 Shannon ...—....• 10
Oct
987$ Feb
Deo
28V Jan 20
55
2,095 Pond Creek Coal.... 10
239 Quincy
—
25
454 Ray Consol Copper— 10
95
229
148V Oct
D ec
•
Ojibway Mining..—. 25
Old Colony—— 25
Old Dominion Co.... 25
Jan
105
5
J'ne 24
401$ J'ly 30
13
J'ne 10
1$ J'nelO
8Ve J'ne 10
21V J'nelO
^9
May 17
VJ'ne 6
3
Apr 30
41V J'ne 10
73V Jiy 12
Copper 25
250 Nipissing Mines.....
5
3,742 North Butte..—..— 15
60 North Lake-...-.—. 25
Deo
107
82
28 V
Mch
189
Dec
300
J'ne 10
Jan
SO
3
.95
25
6
Deo
2141$ Deo
21$ Mch
4
2VJ&n 14
IV J'ly 23
6V J'ne 19
3VJ'ne 4
47$ J'ne 12
2V J'nell
5V J'ne 10
20 V J'ne 10
5
25
390 Mayflower.......... 25
375 Miami Copper...—.
5
Michigan........—. 25
Apr
Z8«V J'ly
93
Feb
20
300
Jan
Jan
16
Valley Mines.
155
9
17V May
103
Jan
79
5
Mch
6
J'ne 27
44V J'ne 12
25
105
330
3V
Co..... 25
Copper...... 25
May
z90V J'ne
6
Aug
10V Aug
10*4 Jan
2721$ Sep
Mayl2
V May 8
1
25
84
J'ne 24
5V J'ne 12
1
Nov
1
14
10
25
25
94V Mcb
75
275
51
1,838 Granby Consolidated. 100
1,478 Greene-Cananea
20
180 Hancock Consolidated 25
Hedley Gold
—.
50 Helvetia Copper.——
323,Indiana Mining..—.
488 Island Creek Coal...
62
Do
pref..
831 Isle Royale Copper—
J'ne 24
30V J'ne 10
37V J'ne 10
2V Mayl3
9 V J'ne 10
4V J'ne 9
145
„21*
108
J'ne 12
2vJ'ne 6
........
685
56V
57
18V
18V
♦34V 35
17$
IV
7V
7V
♦24V 25
V
June'13
47V
b Ex-atock dir.
3V
*48
101
16V J'ne 27
Copper
.....
6
864 Copper Range Con ColOO
55 Daly-West
20
4,150 East Butte Cop Min. 10
100
47
1*4
43V
.70* *„60
27V
2
2
Nov
May
Aug
79V Nov
Jan 11
165V Jan
16V Apr
.05
840 Chino
160
151V J'ly 31
14 V Apr 15
Jbtos&CorbCop&SilMg 5
110 Butte-Balaklava Cop 10
6,925 Butte & Sup Cop (Ltd) 1Q
1,391 Calumet
Arizona.. 10
800 New Arcadian
"8% "8%
Jan 16
62
75 La Salle
4
3
5,409 Amalgamated Copper 100
1,545 Am Zinc Lead & 8m. 25
565 Arizona Commercial.
5
25
360 Centennial.......... 25
93V Jan 22
95vMch24
29V J'ne 11
25
Jan 13
219V Apr 12
31$ Feb. 8
60
Apr 2
91V Jan 11
w8V J'no 10
.15
May20
Algomah Mining.... 25
104
J'ne 14
102 V J'ne 10
Ahmeek.——— 25
8,270 Alaska Gold
10
288V Jan 10
186V Jan 2
J'ne 16
Mining
105 Adventure Con...—. 25
50 Mason
47V
IV
9*s
.99
Corp......100
pref.....—.100
100 Mass Consol———
38
IV
45*4
Do
306
Corp. 25
pref......... 25
S Steel
60 Keweenaw
38V
9V
48
Do
8
86
4iv J'ne 10
718 Un Shoe Mach
11,543 U
110 Lake Copper
38V
48V
"l8V
Feb
_
22
7
209
147
.....100
130 Kerr Lake
47
IV
*9V
47V
49
25
2V
934 United Fruit
Mcb
63*4 Mcb
113*4 Deo
11414 Deo
137V Jan
Apr 30
81V Jan
16
26V J'ly 18
27
Mch28
34J'ne 6
Torrington
25
Do
pref.——— 25
Copper L & M 25
—
"l8"
38
....
IV
IV
7V
*24V
2418
2*4
.86
38
2
45
7V
25V
75V
20*4
*56
5
59*4
7*»
76V
20V
♦56
48
2V
12V
23V
48
48
12
37*4
6%i 5%
5V
49V
80V
19V
85s
178
7
~
4i2
6*4
3V
41
1
232 Calumet & Hecla
1
2V
12V
*4V
59*4
Last Sale 1
2
63V
38
17
48
44
prices
*5
6
2'V
401
*11V
37*4
Last Sale 30
*.30
V
23
IV
S'A 8%,
.95 *.85
38
47
178
9V
6V
•3
23V
llA
.25 *.15
2V
69
v
6978
20V
2612
63
12V
6%
17
7
27V
2
1
3V
2*4
12V
60
"""
26
398
11V
38
38V
2*4
69
♦22V
27
28
2V
•IV
1
*,70
3V
3V
38
7
J
2
2
.25 *.15
*•15
1%
43
16V
8% 8%
2
•2
•A5
.7*4
23V
11
6
100 Union
680 Allouez..
32
""iv "'IV
404
373$
47
81V
♦19
19V
*3»A 3V
♦IV
IV
3%,
♦4
63V
305 Swift & Co
500
IV
27V
64
26
401
*31V
69*a
20V
2V
*4
♦IV
♦46V
♦80V
19V
•3
20V
2V
5
5
82
•4
'
2V.
18*4
10
........100
80
21
14
17
Apr 9
N E Cotton Yarn—..100
Do
637$ Apr 7
pref
-.100
zl36
J'ne 18
200 N E Telephone
....100
Button-Hole..
Mcb
Jan
87
15 Reece
149
J'ne
J'no
J'ne 10
40
70*4
5
♦730 ~
5V
47V
•6V
IV
32
697$
20V
5
16*4
178
6V
4V
7
♦IV
31V
18V
5
6V
V
19
70*4
20
2*4
25V 26
63V
64V
400V 409
11V
11V
37
37V
38
38V
3V
3V
12
12V
5
18V
IV
IV
July'13
9
26 Pullman Co......... 100
J'n«
NOV
Jan 23
J'ly 28
J'ly 28
May26
Apr 28
55
28
587$
59V
*1067$ 107V
1*8
*.60
O'A 7
16V 17
,"-70 I30"" ""30
5V
47V
197g
•2V
♦27
Last Sale 290
32
28V
5
♦1
IV
69 V
60V
108*4 109
19
"*1V "Tv
65
38V
♦2V
18V
IV
32
28
69V
•IV
IV
*270. 285
IV
410
38
109
.80
63
*27
69 V
108
70V
20
2*4
405
♦11V
28
; 58V
59V
108V 108V
.
-
28
"68V
19V
IV
64
•Is 5"
154
18V
•IV
IV
•16
♦147
*15
285
.70
147
147
147
148V 147
154V *151*4 151*4 ♦151
15V *15
15V
15V *1478
15V
104
1047$ 104*4 104*4 104*4 105
27
27
27V 27V
*26V 27V
•
28
♦27
27V
27V *27
1
**4
1
?*4
1
165
165
165V
163V 164V 164
47
47
46*4 47
46V 46?8
147
19
IV
•IV
27V
60V
6V
"l5V
*3V
155
18V
•IV
1
•5
*146
147
154V
2V
•2V
'♦410
146
3V
18V
IV
20
20
\
\».70
3V
♦3V
514
2412
133*8
123*4
8
10
—
Mch
100
95
258
Mch
14
Jan 10
130
2
218
106
Aug
92V J'ly 23
257
58
—
*
Deo
Deo
3
Jan 14
100
Ilium
54
98
57
75
5
McElwain(WH)lstpf 100
MassachusettsGasCosl 00
Do
pref
.100
Morgenthaler Lino...100
Mexican Telephone
10
Jan 11
99VJan 2
41$ Jan 3
23V Jan 11
1181$ Jan 8
117V Feb 1
140V Jan ,3
May27
59
270 General Electric.....100
30 Edison Elec
275
140V
140
90
Last Sale
3V
*1111
99
218
.
—....
99
*89
*
125 V
Do
pref.
100
Amoskeag Manufacturing
Do
137
pref.
40 Atl Gulf & WI S S L.100
Do
160
pref......
100
50 East Boston Land.
10
11
♦272V 275
140
140V
.
J'ne 9
J'ne 10
16V Feb 28
74
May 8
110
12
14
*16"
90
90
9Q
.
_
J'ne 12
105
'"'255
76
76
76V
J'ne 23
2VJ'ne
16V J'ne
Do
pref....
...
50
483 Amer Sugar Refin...100
Do
145
pref..,;
....100
2,075 Amer Telep & Teleg.100
American Woolen.
100
*6V
•6V
140 V 140V
98
98
213
"•3V ~3V
76
65
11
91
90V
76V
*63
13
98
113V 113V
128V 128V
Last Sale 17V J'n *13
"76V
•10
141
98
.
110*4
110
44V J'ne 27
z91
Pneu Service.. 50
220
19
19
19V
19V *19
110% 111V ♦110V 111
114
113V* 11478 114
128V 128V 128V 128V
175 Amer
3*4
*3V
3*4
3*4
•19
114
127V 128*4
4
*3*4
74 Amer Agricul Ghem
100
Do
pref .... ....100
290
241$ Sep i
Nor
Apr:
J'fy
Jan
61
Apr
91$ Apr
4**1$ Mcb
*506$ Sep
62*4 Sep
;
Feb
Nov
IV Dee
81$ Deo
Apf
May
Aug
20*8
67*$
67$
7*4
18*4
lP
Apr
Sep
Jam i
Mcb
Apr
Meb
•
AUG. 2
1913.]
Boston Bond Record
BONDS
EXCHANGE
Price
BOSTON STOCK
1028 A-O
1929 J-J
fConvertible 4s
1936 Nl-S
20-year conv 4Mb
.1033
Am Writ Paper 1st sf 5s g__1910 J~-"j
Am Zinc L & S deb 6s
1015 M-N
Am Agricul Chem 1st 5s
Am Tslep & Tel coll tr 4s
191G
1944 J-J
Plain
4s
Bur & Mo Riv
cons
Butte El & Pow 1st 6s
1951
1920 Q-F
1919 A-O
1919 A-O
Low
101%
102
86
89*4
99
10414
J'ne'12
93
97
50
85
10078.___
101
102
10414
J7ne'13
J'ne '13
104"%
104.4
83
1103
Oct
977|
82
~997g
83
98%
80
100
83
107
J'ne'13
10534
IO53410778 113"»8 Feb '11
107
--.-
86
90
91
Chic & W Mich gen 5s
1921 J-D
Concord & Mont cons 4s_._1920 J-D
93l2
95
94
92l2
Copper Range 1st 5s
.1949 A-O
Cudahy Pack (The) lstg 5-1924 M-N
92" '97
J'ly '13
97%Sep '11
95
95" "95"
Mav'12
Mch'13
192G A-O
1940 A-O
Dominion Coal 1st
1940 M-N
99
Feb '13
..1927 M-S
Fremt Elk & Mo V 1st 6s..1933 A-O
Unstamped 1st Gs
1933 A-O
95
Oct '12
122
Feb '13
Mch'12
f 5s
92
76
ilP'S
122
93
92""
92
J'ne'08
"9"6"5g
95
9384
99l2
99
90
Sale
98
....
90
101
10084 Sale 10034
90
Apr
13
10078
1930
.
....
7014 Dec *10
102i8 100
J'ly '13
90'4 J'ly '13
1919
1929
90
Torrington 1st
1918
IOO84 Mch* 13
95.8 955s 953s J'ly '13
917„ 925g 90
J'ly '13
93%.... 93.2 J'ly '13
5s
4 Ms
Gold
99" "99%
Aprl963
4Hs
1914
1916
1917
Western Teleph & Tel 6s
1932
Wisconsin Cent 1st gen 4s..1949
99l2
857g
865s
* No price Friday; latest bid and asked.
93
93U
98«4
94%
99%
90
93
101
101
9934101%
1173s 125%
100
103%
90
96
10034 10034
$5% 95%
90
90
92
96%
93
9878 J'ly '13
97
J'ly '13
99i4 J'ne'13
97.8 Feb '13
98.2Nov'll
99i2
99i2
1915
4s
80
Apr'07
93
9338
Gold
pays accrued Interest In addition to the purchase price lor all Boston bonds.
....
97
1925
Gold debenture 4s
78
99.2 101%
11
Terre Haute Elec g 5s_.
g
92
103" Jan"'li
5s__1952
cons
Dec
92
108l2 113
763g 76%
90.2 90%
"94" "97""
95
9312 J'ly '13
May'13
1173s J'ly '13
101
Apr '09
8978 9218 9878 Sep '09
10678 109i8 1113s Oct '12
U S Steel Co 10-60-yr 5s
West End Street Ry 4s
122*" 122"
J'ne *13
...1948
deb 6s
Debenture
92
100
115
76
80% Sep '12
FItchburg 4s
NOTE.—Buyer
,
95%
Union Pac RR & Id gr g 4s_1947
20-year conv 4s
1927
United Fruit gen s f 4Ms
1923
98
IOOI4 Aug'12
Current River 1st 5s
Det Gr Rap & W 1st 4s
98
9214 Mch'12
Seattle Elec 1st g 5s_.
Shannon-Ariz 1st 6s g
1108S
13
deb3Ms_1956
Savannah Elec 1st
85i8
98l4 10038
7912 86%
Feb
New River (The) conv 5s_.1934
Conv
100
83
9814
98i2
79i2 J'ne'13
..
95
Old Colony gold 4s
1924
Oregon Ry & Nav con g 4s_1946
Oreg Sh Line 1st g 6s
1922
Puget Sd Elec Ry 1st 5s
1932
Repub Valley 1st s f 6s
1919
96" ~98
1
High
993g 9934
93l8 96U
94U 957|
Apr'08
N YN H & H con
S9»4
*07
May'13
100
J'ly '13
08l2Mch'12
"~9
94%
7638Jan *13
90ij Feb '13
78.4 May'13
77
....
1932
5s
9812 Dec *12
Illinois Div 3Hs__*
1949 J-J
Ohic Jet Ry & Stk Yds 5s_.1915 J-J
Coll trust refunding g 4s_194C A-O
Oh MIlw & St P Dub 1) 0s._1920 J-J
Oh M & St P Wis V div 6S..1920 J-J
Ch & No Mich 1st gu 5s
1931 M-N
1934
1.
Low
993g Apr '13
95i8
92
IIII "90 "
Telephone 1st 5s
1917
New Eng Cotton Yarn 5s..1929
New Eng Teleph 5s
,1915
98
.....1922 F-A
Nebraska Exten 4s..
1927 M-N
B & S Wsf 4s
.1921 M-S
91
No
1067# 108.8 108i2 May'13
Mich
J'ne'13
Since
Jan.
High
94%
943g
117
Kan C & M Ry & Br 1st 5s_1029
Marq Hough & Ont 1st 6s.. 1925
Mass Gas 4Ms.-.——
1929
Deben 4 Ms
-Dec 1931
J-D
Denver Exten 4s
s
Assented income 5s_
97
101
86
99.2
95% Sale
K O Ft S & M Ry ref 4s gu.l 936
Kan C M & B gen 4s
1934
"69" " ~62S*
Ask Low
1921
Spr 1st 5s...1925
& Mem 6s._1928
Range
or
Last Sale
99
Kan C Ft Scott
98
1041? Oct '08
95
Feb '12
83
4s
Range
Houston Elec 1st s f gen 5S.1925
la Falls & Sioux C 1st 7s...1917
Kan O Clin &
J'ly '13
876s Nov'12
8912 J'ly '12
97
J'ly'13
99% 9953 110-^8 Mch'11
60% Sale
60i8
61
50
May 13
951s Feb '12
IOOI4 Mch '09
1916 M-N
Bid
Registered
Week's
Friday
August 1
General Motors 1st 5-yr 6s_lW15
Gt Nor CB&Q coll tr 4s..l921
102l2 106
26
Price
EXCHANGE
Week Ending August 1.
High
99
94
9558
84?8
~9~67j "98%
J-J
Cedar Rap & Mo Riv 1st 7s
Cent Vermt 1st g 4s
May
0 B & Q Iowa DIv 1st 5s
Iowa Dlv 1st 4s......
•
131
96is
8278
....1042 F-A
1918 J-J
Gs
No.
Mch'13
101
'
8978 J'ne '12
1935 M-N
Boston & Lowell 4s
High
1033*
BOSTON STOCK
Since
Jan. 1.
99% Apr *13
87
87%
~87*i 121'.
60-year conv 4s_.
1955 J-D
10-year conv 5s
i
1917 J-D
Atl Gu.r & W I SS Lines 5s. 1959 J-J
Bos & Corb 1st Conv s f 6s..1923 M-N
Boston & Maine 4 Ms
Ask Low
BONDS
Range
or
Last Sale
lOlHSalV
Atch Top & S Fe gen g 4s__1995 A-O
Adjustment g 4s....July 1005 Nov
Stamped
July 1995 M-N
3;Vyr g 4s
Range
August 1
Bid
Boston Elev
Week's
Friday
Week Ending August 1.
291
95%
987g 10134
97
97
99%
97%
99%
97%
~977g
100%
93% Feb *12
H Flat prices.
Philadelphia and Baltimore Stock Exchanges—Stock Record,, Daily, Weekly, Yearly
SHARE
PRICES—NOT
PER
CENTUM
PRICES
Sales
ACTIVE STOCKS
Range for Previous
of the
Saturday
Monday
July 28
July 26
Tuesday
Wednesday
July 29
July 30
Thursday
July 31
Ranye since
Friday
Week.
Aug 1
Shares
(For
and Inactive
Stocks see below)
Baltimore
101% 101% ♦101% 104% *101% 104% ♦101% 104%
107% 107% ♦107
108%
107% 107% ♦107
108%
16%
16%
♦16
16%
16%
16%
56% ♦56%
56%
56%
56%
56%
♦115
116
115% 115.2
115% 115%
18%
19%
19%
19%
19%
18%
19
•-...
44
43% ♦43
"43% 43%
42%
42%
26%
2634
26-%
26%
2634
26%
26%
26% 26%
•101% 104% ♦101% 104%
•107
108%
107% 107%
•16
16
16
....
•56
57
56%
♦115
1S%
2634
2634
"26%
5
20
420
65
Lowest
101
Year (1912)
Highest
433
United Ry & Electric.
J'ne 10
101
J'nel2
14
J'ne 10
Lowest
Highest
56% J'ly
114
J'ly
14% J'ne
41% J'ly
Jan 16
96
Jan
117
May
120% Jan 31
101
Jan
116
Apr
120
'
__
Northern Central.... 50
Seaboard Air Line___100
Do
pref_
100
48
1
'
Con Gas El L & Pow. 100
Do
pref
100
Houston Oil tr ctfs.
100
Do
pref tr ctfs.100
200
241
Jan.
Bonds
23
Apr
4
28
68
Jan
9
16
123
Apr
2
11
21
19
4734 Jan 24
27% Apr 3
50
23
50
2
50
37
J'ne 11
50
41
J'ne 10
Jan. 6
Jan 30
8% Jan
53% Jan
121
Dec
18
Dec
45% Mch
18% Jan
25% Nqv
72% J'ly
1.10
Apr
27% May
6584 J'ne
26% Sep
Philadelphia
American
38
38
47%
47%
"47%
47%
36%
36%
36%
74
13
•73%
1278
•24%
•84%
38
38
38
48
46-%
11%
4634
11%
4S"
48
37%
74%
36%
74
1234
13
74%
1278
2434
24%
24%
24%
85%
85
85.
85%
75%
3734
4738
~is~
75%75%
•2O84
34
56'8
75% 757S
21
21%
34
34
21%
34%
38
38
•47
47
♦37%
*46%
48
48
48
"47%
367s
74%
36%
•7334
*12%
♦23%
x84%
♦20%'
♦3334
3G34
7334
12-%
37%
1278
24%
♦23-%
24%
85%
•85
8534
7512
21%
34%
76
75%
21%
21%
34
34
57
57%
57
57%
5678 57 %
43
43
43
43%
43
22%
22
22
22%
22
24%
2434
2434
43%
22%
25
43
22%
24%
2434
24%
24%
81
81
81%
4%
81%
80%
79%
80%
50
4%
67
50%
438
50%
•84%
8434
84%
XS0
4
50
50
50
8434
85
85
84%
4%
•
Bid
10
Amer Rys pref..
100
Cambria Iron
50
Central Coal & Coke. .100
Preferred
...100
1%
99% 100
41
80%
Huntington & B T
Preferred
"88
217g
24%
Schuylkill
Pennsylvania Steel
100
Railways General
Tonopah Belmont Dev
26
213S
....
*17""
567g
—
"57%
50
50
Coal
York
Railway
!■' Preferred
37
20% J'ne 10
Phila R T vot tr ctfs..
50
20
J'ne 10
28% Jan
Reading
Tonopah
50
75% J'ne 10
4
J'ly 22
46% J'ne 10
80% J'ne 10
84% Jan
2178
24%
79%
7,562
4,885
5,935
1,533
49%
1,131
84%
268
8378
95%
115%
9934
A-O
105
106
—
m,
::::
Gen Asphalt 5s 1916.M-S
Harw Elec 1st Gs 1942 M-S
m
66
"
Leh V ext 4s 1st 1948.J-D
Consol 6s 1923
J-D
40%
Consol 4 Ms 1923
4284
Annuity 6s
140
222
224
1st 4s '55M-N
10
78"
58
56%
434
100
50
"12
50
36
121;
37
Income 4s 1939
"95"
»
-
-
Trust ctfs 4s 1949..J-J
P & E gen M 5s g '20.A-O
Gen M 4s g 1920
A-O
97
Un Rys tr ctfs 4s
73
s
t
M-N
f 5s 1930..J-D
98
100%
101% 102
90
f 5s 1926
74%
90%
York Rys 1st 5s 1937.J-D
91
91
*9334
13
35% Sep
8778 Mch
78% Feb
8% Jan
23
Jan
9
60
Dec
8
4934 Dec
2434 Feb 14
3
2
6% Jan 13
61% Jan
9
91% Feb
3
||1678 Jan
22% May
74% Jan
6
Dec
49% Feb
86% Jan
Bid
93
Cons G E & P 4 Ms '35 J-J
Consol Coal 5s 1950
J-D
102
.
.
101%
Knoxv Trac 1st 5s "28 A-O
l0"0-34
are
all
„
235
4s
L 5s '49..M-N
North Cent 4Ms 1925 A-O
Series A 5s 1926
J-J
100
Series B 5s 1926
J-J
Pitt Un Trac 5s 1997
J-J
Poto Val 1st 5s 1941...J-J
"and
J-J
1954-1955...Various
5s 1916.
..M-N
Anacostia & Potom 5s A-O
Atl O'st conv deb 4s_M-N
Atl Coast L(Ot)ctfs 5s J-D
93%
5-20-yr 4s 1925
J-J
B S P & C 1st 4 Ms '53 F-A
101% Bait Trac 1st 5s '29.M-N
-
-
*
100
No Bait Div 5s 1942J-D
Cent Ry cons 5s '32.M-N
90
90
101
98
9134
99%
9884
92%
U El L&P 1st 4Ms*29M-N
Un Ry & El 1st 4s '49 M-S
_
...
40
3934
"9684 "of"
103%
102%
102%
93
102
103
City&Sub (Was) 1st 5s '48
100
100
4s
6684
96
93
~97%
98
88
100
102
102
ioo"%
100
101
101
8884
83%
62
Conv notes 5s 1914 J-J
Va Mid 3d ser 6s '16.M-S
4th ser 3-4-5s 1921 M-S
106
5th series 5s 1926
M-S
Va (State) 3s new '32.J-J
Fund debt 2-3s 1991 J-J
West N G con Cs 1914.J-J
Wil & Weld 5s 1935...J-J
67%
"92~
1940...J-D
5s 1936
J-D
Funding
93%
103
91
.
101% 102
Sav Fla & West 5s '34 A-O
Seab Air L 4s 1950
A-O
Seab & Roan 5s 1926
J-J
South Bound 1st 5s
A-O
Income
87
Ext & Imp 5s 1932 M-S
Ohas City Ry 1st 5s'2J J-J
Ohas Ry G & El 5s '99MS
79% 80
103% City & Sub 1st 5s 1922 J-D
88
_
MaconRy&Lt 1st 5s'53J-J
Norf Ry &
interest"
Bait City 3Ms 1930
103"%
....
Memphis &t 1st 5s '45.J-J
(Oopn).lOO
Brewing
Bonds
9834
Ga So & Fla 1st 5s '45.J-J
G-B-S Brew 3-4s '51.M-S
Houston Oil div ctfs
F-A
G-B-S
Prices
87
88
101%
101
....
93
8634
86
101
112
•
....
105
92%
107
N & A Terml 5s '29..M-S
N or & Port Tr 1st 5s'36 J-D
^
97
100
Ga Car&N 1st 5s g '29 J-J
Georgia P 1st 6s 1922
J-J
NptN & O P 1st 5s'38M-N
~
Ask
Fair & CI Tr 1st 5s '38 A-O
Ga & Ala 1st con 5s '45 J-J
93
-
Sep
927g Jan
167g Sep
33% Deo
63 % Apr
56% Feb
2434 Sep
29
Sep
89% Apr
8% Apr
53
Sep
92% Aug
BALTIMORE
170
*»
100
Coal & C Ry 1st 5s '19A-0
Coal & I Ry 1st 5s'20 F-A
Col & Grnv 1st 6s 1916 J-J
Consol Gas 5s 1939
J-D
240
# -
Dec
Sep
Apr
Feb
Jan
60
Pep
Oct
J'ly
Aug
Dec
6
61% Jan
37% Mch 28
Jan
55%
12%
58%
39%
73%
27
100
„
99
18
Apr
69% Apr
Consolidation Coal
100
Georgia Sou & Fla
100
1st preferred.......100
2d preferred
100
m
Atlan Coast L
9934 Canton Co
142
86
7
47
Monon V Trac 5s '42 J-D
Mt Ver Cot Duck 1st 5s__
-
93
J'ne
Md Elec Ry 1st 5s '31 A-O
BALTIMORE
Inactive Stocks
111
4
2378 Mch 28
1
40% Oct
41% Mch
11% J'ly
52% Jan
Gen 4Ms 1951.....A-O
Stan'd Gas & El 6s*26 J-D
Stand Stl Wks lst5s'28 J-J
U Trac Ind gen 5s *19.J-J
58*4
105%
100%
M-N
Pa & N Y Can 5s '39-A-O
Penn Steel 1st 5s '17.M-N
People's Tr tr ctfs 4s.l943
P Co lst&coll tr5s'49M-S
Con & coll tr 5s '51 M-N
Phil Elec gold tr ctfs_A-0
P W & B col tr 4s '21__J-J
Read Trac 1st 6s '33..J-J
Roch Ry & L con 5s '54 J-J
s
NatLH&P serB 5s *19 J-J
New Con Gas 5s 1948. J-D
N Y Ph & No 1st 4s'39 J-J
9%
Ask
101%
1st series B 5s 1935 M-S
MarketStEl
Bid
Wil-B G&E con 5s '55.J-J
J-D
J-D
Gen cons 4s 2003
M-N
Leh V Tran con 4s '35 J-D
1st series A 4s 1935.M-S
6%
50
PHILADELPHIA
Welsbach
85
84%
102
-if
50
'49 _J-J
United Rys Invlst coll tr
Sup Corp inc 5s'24 O
m"*»
Union Traction
United Gas Impt
-1
Spanish-Am Ir 6s *27__J-J
Peoples Tr tr ctfs.
1943
...
Mining....
4
J'ne 10
Terminal 5s g 1941 Q-F
Con Trac of N J 1st 5s '33
Del Co Rys tr„ctfs 4s'49J-J
4s
pref-.:
Philadelphia Elects..
Ash
interest"
Interstate
Do
Pennsylvania RR
Philadel Co (Pittsb)..
Ph & Read 2d 5s 1933 A-O
Ex Imp M 4s 1947.A-O
92
Lehigh Nav 4Ms '14.Q-J
'
21%
Gen M 4^s g 1934.Q-F
104% 105% Leh V C 1st 5s g 193 3. J-J
m
Bid and asked; no sales on this
day.
«
53% J'ne
50
25
499
69
6%
Westmoreland
50
3,079
90
~
100
Warrants
Wilkes Gas & Elec
J'ne 10
70% J'ne 10
1534 Jan
4
29% J'ne 12
57
Keystone Tel 5s 1935—J-J
^
80
100
Co
81
Bonds
Prices are all "and
Elec &
J'ne 10
7038 J'ne 10
9«4 J'ne 10
50
42%
Bid
100
100
!;
50
50
280
PHILADELPHIA
pref..
50
363
220
84%
33
Asphalt
Do
Lehigh Valley
Lehigh Valley Transit
75%
85
Gen
6
*49% Feb 24
63% Jan
9
12% Jan
9
54% Jan
9
427g Feb
4
78
May 13
13% May 10
31% Jan
9
93% Jan
3
84% Jan
3
J'ne
34
48%
11% J'ly 29
42% J'ne 10
Feb
22
21
49%
Electric Co of America 10
Elec Storage Battery.100
2
Leh C & Nav tr ctm__
*33
4% 4%
6
54
167
75%
•20%
79
Feb
Keystone Telephone. 50
Lake Superior Corp__100
84
567g
42%
21%
22%
American Railways..
Cambria Steel
524
1,345
84
% 4%
4934
847a
73%
12%
24%
Lake
30
100
Preferred
2,642
•12%
*23%
58
8134
884
West Jersey & Sea Sh.
47%
"731*4
F-A
1
Warwick Iron & Steel. 10
Washington-Va Ry
100
10
300
44
1,703
Fr Tac & H 1st 5s '40.J-J
Virginia Ry & Power.. 100
Preferred
2178
24%
80
Edison Elec 5S 1946
~4S% 149%
10
United Cos of N J
100
United Trac Pitts pref 60
34%
67%
43
11%
Berg&EBrew lst6s'?l J-J
S'tl 6s 1998.Q-F
Ch Ok & G gen 5s 1919 J-J
100
Preferred
Phila Co (Pitts) 5% prf 50
6% cumulative pref. 50
Phila German & Norris 50
Phila Traction
50
50
8478
21
•11%
47%
Bethleli
50
Pennsy receipts $15 paidPennsylvania Salt
50
.
79%
4
4%
84%
75%
38
45%
Am Rys 5s 1917
A-O
Atl C Gas 1st s f 5s '60 J-J
50
Minehill & Schuyl H
50
Nat Gas Elec Lt & P..100
Preferred
__._100
North Pennsylvania.. 50
♦
57
47%
36%
74%
13
24%
38
45%
Alt & L V Elec 4 Ms'33F-A
Am Gas & Elec 5s '07.F-A
50
Insurance Co of N A._ 10
Inter Sm Pow <Sc Qhem 60
Kentucky Securities.. 100
Keystone Telep, pref." 50
Keystone Watch Case 100
Lit Brothers.
10
%
Ask
Consol Trac of N J
100
Harwood Electric..,:.100
Welsbach
*33%
♦42%
43%
22%
•
4%
4934
Inactive Stocks
American Milling
Little
75
♦20%
'
4%
PHILADELPHIA
.
74
13
38
46%
Cement
919s
83%
62%
85
86
106%
100
100
100
103
....
\
■
£ Ex-div. and rights.
*
£ 915 paid.
S 13M Paid,
f 17M paid.
392
CHRONICLE
THE
[Vol.
xcvh.
luuestment and toiltruad Intelligence.
**n,M*-**,"nnrri^inrr»inruriAaruvvmru-uxarLnjnrunj-ii-u-tririj-tftrij-inj-njnj-i->r.i-r
^
*
GROSS
RAIL-ROAD
..
EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return®s
be obtained.
The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary;
can
statement to show the fiscal year
period.
totals of those roads whose fiscal year does not begin with July, but covers some other
The returns of the electric railways are brought together separately on a subsequent page.
j
Week
Month.
Ala N 0 & Tex PacN O & Nor East. June
Ala & Vicksburg. June
Vicks Shrev & Pa
Ann Arbor—
Atch Top A S Fe
Atlanta Birm & Atl
Atlantic Coast line
Chariest ft W Car
Lou Head & St L
g
Baltimore ft Ohio.
B&OCh TerRR
Bangor Sc Aroostook
Bessemer Sc Lake E
Birmingham South.
Boston ft Maine...
Buff Roch ft Pitts.Buffalo ft Susq.
Canadian Northern
Canadian Pacific..
Central of GeorgiaCent of New
Jersey
Cent New England.
Central
Vermont
Ches ft Ohio Lines.
Chicago & Alton...
Chic Burl ft Ouincy
p Chic Great West.
Ohic Ind ft Louisv.
Previous
Year.
Current
Year.
or
Year.
Previous
Year.
$
$
Current
.
291,903
34?,
--,393
.
.
.
.
.
.
.
.
.
_
.
.
Chic Milw ft StP.T
Chic MH ft PugS/
•Chic ft North west June
rChic St Paul M AO June...
Chic Torre H ft S E May—
Cln Ham ft Dayton May..
Colorado Midland
June
b Colorado ft South 3d wk July
Cornwall
June
Cornwall -ft Leban. June
Cuba Railroad.-.. June
Delaware ft Hudson June
Del Lack & West-. June
Deny ft Rio Grande 3d wk July
Western Pacific- 3d wk July
Denver ft Salt Lake 2d wk July
Detroit Tol ft Ironfc May—
Detroit ft Mackinac 3d wk July
Dul ft Iron Range.
May—
Dul Sou Sh ft Atl— 3d wk July
.
-
.
.
........
.
.
.
.
7,626,494 7,252,257 86,510,709
1,417,742 1.347,477 17,223,996
153,001
90,629 1,786,722
839,074
784,394 9,140,029
127,695
133,273 1,828,335
281,270
242,723
790,155
240,851
18,596
17,687
414,019
28,014
30,205
399,100
318,818 4,632,040
1,953,503 2,275,294 23,999,532
3.392,183 3,251,840 40.518.045
461,600
449,100 1,347,500
145,600
30,482
151,098
25,319
954,589
72,833
_
Elgin Joliet ft East
May..
El Paso ft Sou West May..
Erie
May..
.............
Fonda Johns & Glov June
.
Florida East Coast.
May..
Georgia Railroad
June
.
2d wk July
Grand Trunk Pac
Grand Trunk Syst. 3d wk July
Grand Trk West. 2d wk July
Det Gr Hav ft M 2d wk July
2d wk July
Canada Atlantic
Great North Syst.. June..
Gulf ft Ship
Island. May-
Hocking Valley..— May.
Illinois Central—— June
_
.
Internat ft Gt Nor. 3d wk July
d Interoceanic Mex. 3d wk July
Kanawha ft Mich..
May-
Kansas City Sou.
Lehigh Valley
June
.
May—
Louisiana & Arkan. May..
3d wk July
Louisv ft Nashv
Macon ft Birn'ham- June
l
.
Maine Central.—.. May..
Maryland ft Penna. June
a Mexican' Railways 1st wk July
Mineral Range.... 3d wk July
Minn & St Louis.-\ 3d wk July
.
128,400
24,183
116,378
23,013
807,264
73,226
1,110,312
708,013
4,285,537
85,566
1,208,254
745,777
5.410,711
86,442
442,452
439,415
221,804
222,973
122,850
1,164,836 1,047,951
136,097
123,799
49,229
44,499
51,798
43,287
0,933,575 5,830,534
.189,676
172,490
755,451
652,816
5,350,214 5,263,768
162,000
178,000
181,351
180,173
332,759
295,959
853,980
767,123
3,795,218 2,300,7.10
149,366
148,842
1,143,295 1,041,530
8,483
10,344
938,984
854,702
41,233
37,168
187,400
171,400
14*738
15,613
182,860
182,276
'
,
.
.
.
.
.
.
.
_
.
-
.
■
9,005,552
1,830,166
699,896
'
490,414 1,773,881
587,561
Chicago Division j
74,445
967,893
97,139
Mississippi Central- May .
u Mo Kan ft Texas. 3d wk July
512,225
1,654,969
585,346
x Missouri Pacific._ 3d wk July 1,193,000 1,207,000
3,279,652
Nashv Chatt ft St L May.
1,137,435 1,104,950 12,248,980
a Nat Rys of Mex.t 3d wk July
645,559 1,175,281
1,892,865
Nevada-Oal-Oregon 3d wk July
9,241
10,438
30,361
N O Mobile ft Chic. May—
211,679
203,080 2.323.978
New Orl GrtNorth- May..
145,516 1,639,528
176,217
#N Y O ft Hud Riv. June
9.962,558 9,125,467 115106531
Lake Shore ft M S June
4,827,892 4,433,597 58.272.046
n Lake Erie ft W. June
515,045
447,045 6.062,323
Chic Ind ft South June
340,536
315,190 4,407,454
3,015,719 2,617,377 35,379,495
Michigan Central June _
ClevO O ft StL_ June
2,888,944 2,534,230 33,983,298
Peoria & Eastern June
291,724
266,739 3.568,496
100,176 1,416,920
122,935
Cincinnati. North June
Pitts ft Lake Erie June
1,735,242 1,606,389 20,040,505
N Y Chic ft St L. June
1,093,277 1,033,456 12,623,141
601,886
503,556 5,672,732
Tol & Ohio Cent. June
Tot all lines above June
N Y N H ft Hartf— May.
77,047.447
15,371,367
1,699.487
196,751
308,573
3,819,253
21,142,929
35,492,527
i;326,900
343,900
409,800
47,582
59,406
1,535,879 1,623,852
71,070
73,932
6,068,950 5,731.203
210,204
213,255
12,201,331 9,566,207
7,966,036 6,957,656
57,290,468 51,463,264
932,168
988,324
4,732,907 4,079,521
3,117,765 3,378,734
243,783
3,383,657 3,097,865
253,593
271,691
86,998
95,455
100,594
85,178
78,790,465 66,160,622
1,929,817 1,827,736
7,094,143 6.637.452
64,786.414 59,220,650
467,000
522,000
531,967
489,211
3,006,457 2,848,322
10,706,309 9,272,859
39,299,894 33,256,743
1.554,412
1,363,216
3,295,005 3,027,085
155,416
;166,165
10,388,414 9,729,722
506,861
445,792
187,400
171,400
40,639
46,875
539,916
532,407
Iowa Central.—]
MinnStP&S SM\ 3d wk July
1,510,576
807,455
1,450,982
3,196,691
11,266,817
3,089,596
33,350
1,826,881
1.489,825
105631635
50,661,871
5,550,211
3,975,554
31,342,468
30.700.843
3.160.453
1,324,747
16,441,699
11,593,474
5,249,429
25394837 22983202 296542142 265632456
5,740,206 5,482,402 63,197,752 59,105.855
AGGREGATES OF GROSS
Current
Year.
Weekly Summaries.
2d
3d
week May
week
(40
May (37
(40
(42
4th week May
1st week June
2d
week June
3d
week June
4th week June
roads).
14,069,124
roads).
13,655,723
20,223,520
14,155,295
14,167,762
14,191,787
18,519,740
13,547,151
14,055,757
14,503,441
roads).
roads).
(41 roads).
(39 roads).
1st
week
July
(39 roads) .
(41 roads
2d
week July
week July
(41 roads).
(39 roads).
3d
a
.
Mexican currency,
Previous
Year.
Increase or
Decrease.
$
$
13,242,972
13,151,182
19,138,924
13,576,071
13,900,378
13,870,253
18,044,170
13,206,284
13,955,741
14,292,486
+826,152
+504,541
+1,084,596
+579.224
+267,384
+321,534
+475,570
+250,967
+100,016
+210,955
JBOADS.
Week or
Month.
Year.
NY Oat ft West—. May.
N Y Susq ft West- May......
Norfolk Southern.. 3d wk June
Norfolk ft Western. MayNorthern Pacific—. May......
Northwestern Pac. May......
Pacific Coast Co
May..—..
Pennsylvania RR— JuneBait Ches ft Atl. June—....
Vail June......
Cumberland
June......
Long Island
Mary I'd Del & Va June......
N Y Phila ft Norf
Northern Central
Phil Bait ft Wash
W Jersey ft Seash
June....
June.
June......
June......
June......
.
.....
Pennsylvania Co
Grand Rap ft Ind June......
Pitts O Oft St L.
Vandalia
Total Lines..
East Pitts ft E—.
West Pitts ft E—
All East ft Wast
Pere Marquette-
.......
June......
June\—.
June......
June.—...
June
July 1 to Latest Date,
Previous
Year.
Current
Year.
$
%
$
794,917
465,280 8,638,337
235.145 3,490,447
321,333
61.173
66,143 3,522,298
3,901,568 3,524,955 39.997,032
5,766.417 5,127,545 66,651,916
328.231
301,463 3,356,916
645,357
571,839 7,236,166
15559936 14182187 181830963
27,025
25,685
318,658
299,759
282,314 3,521,446
1,291,017 1,102,314 11,641,882
152,951
12,890
11,230
393,681
358,110 3,781,498
1.106.921 1,077,482 13,334,941
1,783,321 1,755,362 21.103,722
610,073 6,351,136
570,745
6,154,779 5,912,294 60,573,352
451,881
419,304 5,519,073
3,649,063 3,568,028 44,510,899
884.236
840,343 11,204,406
Previous
Year.
7,730,415
3,374,288
3,176,521
36,277,915
57,909,507
3,172,187
6.839.095
164191847
280,964
3,034,351
10,752,423
134,144
3,424,153
12,548,664
19,297,502
6,351,118
56,909,515
5,182,221
40,756,700
10,020,043
22331180 20836107 257089959 233879910
11275560 10860575 129316302 114226367
33606740 31696682 386406262 348106276
1,415,752 1,349,723 16,096,987 15,323,450
May
Reading Co—
Phila & Reading- May
Coal & Iron Co.. May
Total both cos
May
Rich Fred ft Potom May
Rio Grande June.
May
_
Earnings.
Current
■
3,950,611 3,864.399
122,059 1,889,427 1,635,197
144,869
June
104*144 2.148,591 L939.360
124,386
85,994
2d wk July
82,785
42,379
39,071
June
8,620,429 8,668,710 116896251 107752360
244,440 3,010,462 3,026,054
May
247,113
June
2,609,263 2.530,851 36,123,072 33,498,356
May—
150,955 1,763.324 1,813.639
137,606
May..
103.799
110,311
1.127.977 1,184,927
June
9,016,427 8,314,833 101556 132 92,594,323
June
150,022
141,895 1,794,351 1,557,470
300,279
242,718 2,982,765 3,111,023
May..
June
1,058,468 1,049,053 9,012,362 8,457,266
8 91,965
June
93,107 1,276,628
113,158
3,973,644 3,859,051 44,464.852 42,018,443
May..
647,357
3d wk July
713,499
215,786
276,702
210.225
162,400 2,272.134 2,132,561
May
3d wk July
426,100 1.335,000 1,254.700
447.800
3d wk July 2,608,000 2,593,000
7,912,000 7,865,000
978,553 12,958,452 12,965,833
May
1,003,172
May..
2,518,184 1,870,028 29,265.269 26,700,935
May..
306,863
252,194 3,411,644 3,167,020
358,935
335,284 3,824,956 3,732,915
May
3d wk July
640,587
1,745.985 1,728,403
678,063
815,165
3d wk July
281,769
856,454
300,115
May
7,295,560 6,650,535 86,878,698 79,838,702
777,866
3d wk July
866,388
302,712
266,734
3d wk July
357,091
371,224
130,038
123,172
June
7,631,916 6,799,651 94,084,055 79,255,356
.
Latest Gross
July 1 to Latest Dote.
Latst Gross Earnings,
ROADS.
.....
...
4,369,543 3,224,803 47,524,483 41,517,114
3,294,073
755,243 38,489,447 32,580.797
7,663,616 3,980,046 86,013,930 74,097,911
281,418
.
.....
75,787
278,271
70,649
2,709,393
1,024,220
2,335,860
908,238
Rio Grande South- 3d wk July
12,972
12,892
,37,321
35,466
Rock Island Lines.. May
5,370,192 4,899,145 64,989,001 58,635,934
'
.....
Rutland
May—....
327,299
302,292
3,383,525
3,150,269
St Jos ft Grand Isl'd May......
123.064
1,432,041
121,200
1,438,314
St L Iron Mtn ft So May..— 2,784,859 2,549,935 31,656,656 27,770,275
St L Rocky Mt & P May
199,178
153,324 2,083,565 1,819,138
St Louis ft San Fran May
/ Chic & East Ill- April
Total all lines—_
April
—
.....
St Louis Southwest- 3a wk July
San Ped L A & S L. May..
Seaboard Air Line— .3d wk Jul
Southern Pacific
June
Southern Railway.. 3d wk July
Mobile ft Ohio
3d wk July
Oin N O ft Tex P. 3d wk July
Ala Great South- 3d wk
July
Georgia So & Fla_ 3d wk July
Spok Port ft Seatt— May..
Tenn Ala & Georgia 3d wk July
Tennessee
Central. May
3d wk July
Texas ft PacificTidewater ft West.
Toledo Peor ft West
Toledo St L & W
Union Pacific Byst.
May
Virginian..:
May
Wabash
Western
June
—
3d wk July
3d Vrk July
June
Virginia A Bp West. June
_
Maryland. May
—
Wheel ft Lake Erie. May
Wrightsv ft Tennille June
Yazoo ft Miss Vall. June
.....
3,698,108 3,378,469 42,343,320 38,713,362
968,964 13,571,005 12,973,502
1.203.922
4,703,695 3,918,434 52,207.411 48.303,081
235,000
663,000
249,000
708,000
860.324
884,189
9,296,92 28,233,388
y
419,29 5 397,82 9 1,288,78 51,228,319
11644536 10540832 142774705 131525170
1,212,988 1,197,971
3,584,159 3,593,247
238,691
664,947
215,833
618,890
183,835
176,215
506,223
538,275
86,301
84,206
261,348
241,138
47,683
43,064
136,071
129,192
448,813
391,317 4,882,556 4,424,880
1,922
3,125
5,572
8,714
150,090
145,886 1,549,600 1.411,148
330,751
312,583
852,494
861,847
97,653
10,545
9,716
89,504
24,449
22,487
66,8.17
63,300
110,018
72,467
278,183
209,961
7,563,761 6,905,927 93,638,459 85,977,609
145,809
153,155
1,806,626
1,757,924
486,625 5,672,862 4,510,765
522,218
2,601,752 2,401,377 31,772,541 28,354,764
636,921
613,812 6,914,635 6.630,244
595,340 7,066,251
741,148
6,791,785
16,380
15,110
306,583
348,993
818,349
746,362 11.018,552 9,636,862
Current
Year.
Previous
Year.
11,691,472
55,862,237
29,034,354
2,876,256
2,197,428
17,705s137
15,963,877
1,645,078
615,031
9,948,825
6,124,178
2,728,770
8
10,109,012
50,471,874
25,045,918
2,653,559
2,025,790
15,237,392
14,694,814
1,506,447
616,753
8,070,435
5,727,271
2,419,055
Period:
Various Fiscal Years.
Delaware ft Hudson——— Jan
to
June
N Y Central & Hudson River.e. Jan
Lake Shore ft Michigan South Jan
Jan
Lake Erie & Western.n
to
June
to
June
June
to
Chicago Indiana ft Southern. Jan
Jan
Michigan Central
Jan
Cleve Oin Ohic & St Louis.
to
June
to
to
Peoria ft Eastern—
Jan
to
June
June
June
Cincinnati Northern.—.....
Pittsburgh ft Lake Erie
Jan
to
Jan
to
New York Chicago ft St Louis Jan
Jan
Toledo ft Ohio Central....
Jan
Total all lines.'
Jan
Pennsylvania Railroad
—
to
-
-
——
Baltimore Chesap ft Atlantic. Jan
Cumberland Valley—...... Jan
Long Island............... Jan
Maryland DelaW & Virginia.. Jan
NY Philadelphia ft Norfolk- Jan
to
June
June
June
June
June
June
to
June
tp
to
June
June
June
to
to
to
to
June
Jan
to
Jan
to
Jan
Jan
to
144701171 128469308
89,253,420 82,030,115
128,824
112,674
1,764,390 1,534,303
5,373,294 4,918,067
60,317
48,888
1,911,454
6,500,829
to
June
June
June
June
June
June
Jan
to
June
Tota 1 lines—-Ea'st Pitts ft Erie Jan
—West Pittsft Erie Jan
—All lines E ft W. Jan
to
June
to
to
June
Dec
to
Jan
to
May
May 31/ 1,388,290
Central
Philadelphia Bait & Wash...
West Jersey & Seashore-—
Pennsylvania Company
Grand Rapids ft Indiana..
Pitts Cincm Ohic ft St Lduis_
Northern
......
Rio Grande"Junction— .....
Rutland
——,
—
to
Jan
Jan
to
June
10,326,278
2,646,717
31,122,649
2,579,521
21,165,198
•5,275.405
1,696,145
6,010,602
9,502,597
2,690,837
27,499,721
2,495,718
20,258,380
4,819,709
124677341 114917004
60,896,243 55,749,841
185573584 1706Q6845
452,185
*423,372
1,313,384
EARNINGS—Weekly and Monthly.
Current
%
6.24
3.84
5.07
4.27
1.93
2.35
2,64
1.90
0.72
1.48
Year.
Monthly Summaries.
Cur. Ym
Mileage.
September. ..237,5s
October.. ._237/*2]
November. ..237,376
December ..238,072
..235,607
January
February.. ..240,986
March.... ..240,510
April .... ..240,740
..239,445
May
90,012
June
.
..
Previous
Year.
Increase or
Decrease.
%
Yr.
15,140
233,545
233,305
234.146
232,179
237,756
237,295
236,515
236,619
87.715
272,209,629
293,738,091
276,430,016
263,768,603
246,663.737
232,726,241
249,230,551
245,170,143
263,496,033
252,318,597
258,473,408
244,461,845
234,087,361
208,535,060
218,336.929
238.634,712
220.981.373
232,879,970
73,194,701 68,119,766
+19,891,032 7,88
+35,264,683 13.64
+31,988,171 13.07
+29,681,242 12.68
+38,128,677 18.28
+ 14,389,312
6.59
+10,595,839 4.46
+24,188,770 10.90
+30,616,063 13.14
+5,074,935
jA
ft Does not include earnings of Colorado Springsft Cripple Creek District Railway from Nov. 1 1911.
e Includes the BoxAlbany, the New York ft Ottawa, the St. Lawrence ft Adirondack and the Ottawa ft New York Railway, the latter of which, being a Canadian
road,dees not make returns to the Inter-State Commerce Commission.
/Includes Evansville & Terre Haute and Evansville ft IndianaRR.cr In¬
cludes the Cleveland Lorain ft
Wheeling Ry. in both years,
ft Includes the Northern Ohio RR.
p Includes earnings of Mason City ft Ft. Dodge and
*u
n?
Minnesota^ Pacific. * Includes Louisville ft Atlantic and the Frankfort ft Cincinnati, t Includes the Mexican International, ti Includes
.?^xa8 0®®tir®l In both years and the Wichita Fails Lines in 1912, beginning Nov. 1. v Includes not only operating revenues, but also all othe»
receipts# X Includes St. Louis Iron Mountain ft Southern.
■
tonft
Aug. 2
Latest Gross
follows
of
increase
—Gross
Earnings by Weeks.—In the table which
separately the earnings for the third week
table covers 39 roads and shows 1.48%
in the aggregate over the same week last year.
Roads.
1913.
Third week of July.
Canadian Northern.
Canadian Pacific-- —
...
Chesapeake & Ohio
Chicago & Alton
Chicago Great Western.
Chicago Ind & Louisville
Cine New Orl & Texas Pacific.
_
Colorado & Southern
Denver & Rio Grande.
...
Western Pacific
Detroit & Mackinac
Duluth South Shore & Atlantic-
25,319
72,833
47,683
84,206
215,786
426,100
2,593,000
640,587
281,769
266,734
123,172
176,215
242,723
449,100
128,400
23,013
73,226
43,064
._
1,164,836
1,047,951
Missouri Pacific
Mobile & Ohio
National Railways of Mexico.
_
Nevada-California-Oregon
Rio Grande Southern
St Louis Southwestern
Seaboard Air Line
Southern Railway..
Tennessee Alabama & Georgia
Pacific
Toledo Peoria & Western
Toledo St Louis & Western
Texas &
_
...
;
Total (39 roads)
...
1,755,362
9,502,597
320,445
1,266,124
363,281
1,499,391
570,745
2,646,7.17
610,073
2,690,837
134,175
83,455
178,343
5,912,294
1,360,214
4,447,984
1,987,728
5.686,020
16,000
1,178
178,000
181,351
101,765
587,561
585,346
1,193,000
238,691
645,559
490,414
512,225
1,207,000
97,147
73,121
215.833
22",858
9,241
12,972
10,438
235,000
419,295
1,212,988
1,922
330,751
24,449
110,018
249,000
397,829
1,197.971
3,125
312,583
22,487
72,467
875
584
377,985
4,775,891
83,844
1,416,081
1,386,515
Georgia Sou & Fla.b.June
194.426
July 1 to June 30
2,566,890
181,266
2,447,529
47,048
39,988
549,107
Virginia & Southw'n.b.June
145,809
July 1 to June 30— ,
1,806,626
153,155
July 1 to June 30
"l",203
__
18,168
1,962
37,551
-
Previous
Year.
Year.
528,093
10,036,063
.
Jan
365,548
3,078,138
415,273
4,504,272
491,847
4,122,305
213,654
4,344,372
131,669
4,632,010
1,818,860
Delaware & Hudson.b.June 1,953,503
I Jan 1 to Juno 30
—11,691,472
2,275,294
10,109,102
754,395
4,297,105
3,372,977
Del Lack & West.b. ..June 3,392,183
7
July 1 to June 30..40,518,045
3,251,840
1,179,366
35,492,527 15,234,813
1,296,969
12,498,466
20,857
292,112
23,513
248,184
Cuba RailroadJune
399,100
100,951
1,242,327
Georgia Railroad.b—— June
221,804
July 1 to June 30
3,117,765
-.
109,669
1,248.102
222,973
def4,161
357,862
"
3,378,734
5,263,768
64,786,414 59,220,650
...June 5,350,214
1,227,304
11,250,848
'
1,;143,494
'
37,097
796,566
1,116,754
7,812,718
732,950
98,219
97,631
July 1 to June 30— —11,260,565
8,538,875
2,733,085
2,384.869
Minn St Paul & S S M.a June 1,573,738
21,410,672
1,393,535
17,105,686
348,106
8.015,490
414,406
6,396,142
Chicago Division.a.-June
892,267
July 1 to June 30
10,893,990
837,043
9,578,555
206,170
209,178
2,522,891
704,554
N Y Cent & Hud Riv b.June 9,962,558
Jan 1 to June 30
^..55,862,237
Lake Sh & Mich Sou b J'ne 4,827,892
Jan 1 to June 30
'29,034,354
Lake Erie & West.b.June
Jan 1 to June 30——
4,433,597
25,045,918
447,045
2,653,559
340,536
Jan 1 tp June 30—... 2,197,428
315,190
2,025,790
June
7 >43,600
112,470
526,645
96,389
477,399
47,930
411,196.
60,140
320,238
;
,
892,551
776,864
4,775,874
4,205,576
Clev Cine Ch & St L b J'ne 2,888,944
2,534,230
Jan 1 to June 30,
15,963,877 14,694,814
359,066
1,681,635
2.911.828
75,231
315,767
Peoria & Eastern.b..June
Jan 1 to June 30
582,102
291,724
1,645,078
1,506,447
56,577
182,775
122,935
615,031
100,176
616,753
23,467
defl6,081
7,365
8,510
1,735,241
9,948,825
1,606,389
8,070,435
812,757
4,714,274
872,904
N Y Chic & St L.b...June 1,093,277
Jan 1 to June 30
6,124,178
1,033,456
5,727,271
295,747
1,224,357
1,439,531
223,340
645,051
184.773
521.774
Cine Northern.b
June
1 to June 30
Pitts & Lake Erie.b.-June
Jan 1 to June 30
Toledo & Ohio Cent b June
601,866
Jan 1 to June 30
2,728,770
Total all lines.b
Lines
31
266,739
503,556
2,419,055
3,662,237
327,517
def3,665
18,315
57,152
1,911,287
111,783
1,276,006
63,092
783,228
12,234
666,626
115,379
133,804
1,510,661
,
1,560,796
381,225
8,395,620
7,697,815
1,506,783
243,191
1,151386
32,672
32,524
455,698 JE439.320
13,096
188,666
6,897
197,457
Includes the Chicago Milwaukee & Puget
Net earnings here given are after deducting taxes,
b Net earnings here given are before
BR
Sound in both years.
♦
a
deducting taxes.
-
j The company now ihcludes the earnings of the Atchison Topeka &
Rio Grande & El Paso RR. Co., Gulf Colorado & Santa
Santa Fe Ry. Co.,
Fe Ry. Co., the
Texas Ry; Co.,
Southern Kansas Ry. Co. of Texas, the Pecos & Northern
the Pecos River RR. Co., the Texas & Gulf, the Gulf
Inter-State Ry. Co. of Tex. and the Concho San
RR. Co. in both years.
For June taxes amounted
&
Saba & Llano Valley
to $373,628, against
$301,258 in 1912: after deducting which, net for June 1913 was $2,379,015,
against $2,835,622 last year. From July 1 to June 30 taxes were $4,662,151
in 1913, against $4,206,453 last year.
Interest
Charges and Surplus.
—Int.", Rentals, cfee.—,—Bal. of Net Earns.—Current
Previous
Current
Previous
'
;
.
Year.
Year.
Roads.
Year.
Year.
$
I
$
$
2,165,714
176,271
x217,215
x262,574
2,086,830 *2,126,991 xlJ7Q,894
843,709
9,985,746
796,248
9,455,435
170.043
133,441
2,225,338
2.037,701
.June
301,467
3,396,029
287,189 xdef20,729
xl3,975
3,376:303 xl,665,263 xl,500,818
Railroad
..June
July 1 to June 30._-.-_
66,792
801,222
183,085
Buffalo RoCh & Pittsb. .June
July 1 to June 30—
Chic & North Western.JUne
July 1 to June 30
June
Chic St Paul M & O
July 1 to June 30Colorado & Southern.
_
July 1 to June 30
Cuba
Georgia Railroad
July 1 to June 30
1,455,126
1,798,176
14,675,023 11,467,331
245,230
2,278,934
747,458
358,406
2,084,604
152,535
1,414,280
64,044
1,059,861
64,937 xdef55,828
787,464xdef279,256
xdef20,532
xl21,508
67,625
758,999
60,807
June
INDUSTRIAL COMPANIES.
Atlantic Gulf & WI SS Lines
(Subsidiary cos).May
Jan 1 to May 31__x
After allowing for
147,354
129,353
727,143.
645,346
113,838
506.040
233,871
779,640
other income received.
EXPRESS
COMPANIES.
—July 1 to April 30—
1912.
1913.
$
J
2,965,696 29,352,978 28,185,592
1,537,883 15,229,669 14.422.469
1912.
-Mj>nth of AprilAdams Express Co.-—
Gross receipts from.operation
Express Privileges—Dr.
Total operating revenues.
_
Total operating expenses
Net
£
2,859,253
1,491,002
1,421,813
1,260,263
35,619
167,549
20,595
355,287
163,457
1,172,232
15,485
19,533
146,954
191,830
973,623
operating revenue
One-twelfth of annual taxes.
Operating income
Month of
Aprill9l2.
1913.
American Express Co.—
Gross receipts from operation
Express privileges—Dr
Total operating revenues.
Total operating expenses
14,123,30» 13,763,122
13,768,021 12,590,889
1,333,232
' 1,368,251
$
4,058,625
198,608
-July 1 to April 30—
1913.
1912.
$
$
$
1,951,603
3,934,513 39,897,996 36,087,007
2,051,294 19,196,334 17,101,048
2,107,022
1,928,620
1,893,219 20,701,662
1,807,845 19,551,702
Net operating revenues
of annual taxes
178,401
30,546
Operating income
147,855
One-twelfth
7,168,849
June25,394,837 22,983,202
6,834.351
144,701,171 128469,308 36,369,756 32,707,423
57,935
615,201
def 1,694
May 1,758,136
——
1,462,689
1,383,031
8,723,064
2,617,377
17,705,137 15,237,392
Central .b.June 3,015,719
30.r
to May
2,722,875
9,125,467
2,627,415
50,471,874 13,500,966 11,100,962
515,045
2,876,256
Chic Ind & Sou.b
3,220,535
1
43,371
552,358
COMPANIES.
151,364
1,720,850
Cambridge Elec Light..JuneJuly 1 to June 30
219,327
2,215,502
240,851
WISS
Atl Gulf &
(Subsidiary cos)
318,818
3,819,253
July 1 to June 30..
746,362
9,636,862
—
408,443
9,534,721
324,455
3,281,354
904,938
9,542,365
16,380
348,993
INDUSTRIAL
Earnings-
Current
Year.
15,110
306,583
Valley.a.June
818,349
July 1 to June 30
-11,018,552
Yazoo & Miss
American Pub Utilities .June
Oct 1 to June 30
527,752
,
1,757,924
-
Wrightsv & Tennille.b.June
July 1 to June 30
577,693
788,648
9,075
102,043
Jan
426,793
5,231,985
Alabama Great Sou..June
9.599
135,685
1 to June
264,048
3,272,357
91,057
14.000
17,687
196,751
Jan
205,094
3,411,542
21,466
15,017
13,960,926
,
819,896
9,756,265
P.b..June
835,368
July 1 to June 30.
10,445,168
18,596
Michigan
331,818
3,040,580
1,070,683
June
Cin N O & Tex
15,077,667
.
290,515
3,307,452
1,197
■Net
349,511
5,724,817
942,i40
529",722
14,503.441 14,292,486
581,440
6,846,252
1,723,428
24,527,864 22,921,903
Junel 1,644,536 10,540,832
.12,377,649 11,207,732
80
12,892
209,247
4,454,705
July 1 to June 30
7,404,939 11.286.167
June 1,940,658
July 1 to June 30
938,959
July 1 to June 30—
5,229,745
5,274,998
20,836,107
124,677,341 114917,004 21,591,581 21,737,001
3,186,470
1,889,134
Jpne30
Mobile & Ohio.b
14,000
1,104,945
Illinois Central.a
50,919
2,702,215
3,260,735
July 1 to, June 30
142,774,705131,525,170 44,208,009 39,412,888
1,358,978
1,387,773
Southern Railway.b
June 5,147,098
4,888,598
July 1 to June 30.
68,529,490 63,590,329 20,255,567 19,894,098
1,175,281
1,347,477
1,417,742
17,223,996 15,371,367
Internat & Gt Nor. _b-.June
153,868
683,071
...June
884,236
30—. 5,275,405
July 1 to June 30.
7,252,257
2,298,836
2,594,425
July 1 to June 30..>—86,510,709 77,047,447 24,660,769 20,922,767
-
93,330
581,893
a
to June
Seaboard Air Line.a
Chic& North West.a.-June 7,626,494
July 1 to June 30
840,343
4,819,709
1
Southern Pacific.a
6,799,651
2,342,576
2,180,109
July 1 to June 30— ....94,084,055 79,255,356 31,200,087 22,000,171
Detroit & Mackinac.a.June
963,700
4,533,872
Jan 1 to
♦Chic Mil & St Paul.b. June 7,631,916
July 1 to June 30
229,294
Total West P & E.a.-Junel 1,275,560 10,860,575
Jan 1 to June 30.
.60,896,243 55,749,841
11,311,397
3,627,754
3,846,603
139,395.700 123319,541 46,245,874 43,298,244
—
39,431
173,881
372,979
2,060,212
419,304
Total East Pitts & E a J'ne22,331,180
Canadian Pacific.a-—-Junel 1,674,430
-.June
2,495,718
Jan
116,885
1,041,530
14,738
182,276
1,015,458
July 1 to June 30— — .10,947,244
b
221,462
StL.a—June 3,649,063
3,568,028
Jan 1 to June 30——21,165,198 20,258,380
Vandalia
8,668,710 j2,752,644 j3,136,880
June 8,620,429
116,896.251 107752,360;39,253,716;36,479,156
July 1 to June 30"—
27,499,721
Grand Rap & Ind.a..June
451,881
Jan 1 to June 30.
2,579,521
393
162,000
180,173
Buffalo Roch & Pitts_b. June
Cornwall
Penna Company a
June 6,154,779
Jan 1 to June 30..
.31,122,649
,
4,6l§
1,143,295
15,613
182,860
2,530,851
Atlantic Coast Line.a.-June 2,609,253
July 1 to June 30-.---36,123,072 33,498,356
Colorado & South. b._-June
_
8,416,215
7,164,132
Total all lines, E & W aJ'ne33,606,740 31,696,682
Jan 1 to June 30.
185,573,584 170666,845 28,996,520 33.023.168
Year.
July 1 to June 30
to June 30.
Pitts C C &
~
-Gross EarningsPrevious
Chic St P M & 0_a-—June
1
June
—
17,200
2,306
Current
July 1 to June 30
%
Phila Bait & Wash.a.June 1,783,321
Jan 1 to June 30. —.10,326,278
Jan
Net Earnings Monthly to Latest Dates.—The table
following shows the gross and net earnings of STEAM rail¬
roads and industrial companies reported this week:
Top & S Fe.b
July 1 to June 30
Year.
149,221
230,212
12,500
(1.48%)—-*
Atch
Year.
88,661
275,386
West Jer & Seashore a
210,955
Roads.
Current
Year.
1,077,482
6,010,602
_.
....
Previous
Year.
Pennsylvania RR (Concluded)—
Northern Central. _a.June 1,106,921
Jan 1 to June 30
6,500,829
Decrease.
2,095
60,916
21,700
15,000
37,476
18,346
35,978
6,866
7,620
38,547
"
145,600
Georgia Southern & Florida... .
Grand Trunk of Canada—...
Grand Trunk Western
Detroit Gr Haven & Milw._
Canada Atlantic...
Internat & Great Northern
Interoceanic of Mexico
Louisville & Nashville_...
Mineral Range
Minneapolis & St Louis
— 1
Iowa Central..
Minneapolis St Paul & S S M__
Missouri Kansas & Texas
Increase.
1912.
86,301
276,702
447,800
2,608,000
678,063
300,115
302,712
130,038
183,835
281,270
461,600
Southern
Buffalo Rochester & Pittsburgh
Alabama Great
Net Earnings
Previous
Earnings
Current
%
The
Net increase
293
CHRONICLE
sum up
we
July.
THE
1913.]
85,374
29.974
18,985,958
16,906,545
1,149,959
312,535
2,079,413
316,961
837,424
1.762,451
o
Jan 1 to June 30
Pennsylvania Railroad
Junel5,559,936 14,182,187
4,037,508
3,794,964
89,253,420 82,030,115 18,096,162 17,984,282
>Balt Ches & Atl.a...June
146
1,363
27,025
25,685
18
1,690
112,674
(
Jan 1 to June 30
128,824
Cumberland Valley_a June
96,873
299,759
93,554
282,314
Jan 1 to June 30—.
435.397
1,764,390
535,283
1,534,303
Jan
Long Island.ai..
•
Jan
a
1 to June 30
June 1,291,017
5,373,294
Maryland Del & Va.a June
Jan
■Month of
1 to June 30
1 to June 30
N YPhila & Norf.a—June
Jan 1 to June 30
1.
1,102,314
4,918,067
455,669
815,733
372,732
655.113
12,890
60,317
11,230
48,888
def4,247
def25,096
def3,946
def21,760
393,681
1,911,454
358,110
1.696.145
106,183
106,772
396.872
375.101
1913.
The Globe Express^Company—
Gross receipts from operation
Express
privileges—Dr
Total operating revenues.
Total operating expenses
_
55,400
April
July 1 to April 30—
1912.
27,224
$
60,969
30,308
26,971
30,169
30,661
28,998
$
54,195
I
1913.
1912.
$
695,752
$
642,133
318.824
345,444
•
350,307
317,532
323,309
307,957
32,775
8,700
15,352
7,550
24,075
7,802
'
Net operating revenue
One-twelfth of annual taxes.
Operating income
—3,198
1,663
950
650
1,148
1,013
^
294
CHRONICLE
THE
-Month of April—
1913.
1912.
Northern Express Co.—
Gross receipts from operation
[Vol.
-July 1 to April 30—
—Gross
1912.
1913.
Previous
Current
Year.
Year.
Year.
234,796
127,003
236,924
128,491
2,632,162
1,420,593
2,413,963
1,310,659
107,792
87,825
108,433
91,912
1,211,569
922,762
1,103,304
889,082
291,518
1,497,237
276,961
1,377.335
113,163
568,779
122,472
584,505
Republic Ry & Light, a-June
248,668
July 1 to June 30
2,842,174
214,736
2,518,450
96,640
19,967
4,500
16,520
4,500
288,807
45,000
'214,221
45,000
1,118,241
85,560
1,006,738
391,253
2,064,306
356.564
1,877,514
183,685
2.361,274
162,190
2.029,744
Nor
Ohio
Jan
Total operating reveunes_
Total operating expenses
Tr
&
Lt.a.-June
1 to June 30-...
—
Net operating revenue
One-twelfth of annual taxes.
Operating income
__
15,467
...
12,020
Month of March—
1913.
1912.
169,221
243,807
—July 1 to March 31—
1913.
1912.
95,652
Express privileges—Dr
52,734
Total operating revenues..
Total operating expenses
42,918
45,344
-Net operating revenue
One-twelfth of annual taxes.
93,756
51,591
1,002,578
534,366
838,228
438,964
468,212
422,860
399,263
379,828
42,165
41,634
—2,426
530
726
873
45,351
8,342
19,434
7,029
-3,352
-343
37,008
12,405
Operating income..
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week
or
Current
Previous
Year.
Year.
Month.
City Rap Trans.b-June
Jan 1 to June 30
a
$
446,472 417,804 2,427,098 2,288,501
28,927
25,207
120,618
115,009
168,721
159,261
720,450
681,114
Bangor Ry & Elec Co May
60,285
53,790
262,567
289,041
Baton Rouge Elec Co May
12,231
13,901
62,044
59,088
Belt Line
62,334
April
54,272
242,880
198,912
Brazilian Trac, L & P June...... 1916,693 1733,979 11,552,887
9,942,639
Brock & Plym St Ry. May
10,279
9,759
39,604
41,364
Bklyn Rap Tran Syst April
2002,510 1937,'196 7,504,169 7,372,688
Cape Breton Elec Ry May
29,989
28,578
131,567
143,981
Chattanooga Ry & Lt May
123,315
88,888
493,372
409,089
Cleve Painesv & East May
37,245
34,804
135,050
147,551
Cleve Southw & Col
June
111,601
105,173
575,158
540;343
Columbus (Ga) El Co May
%
48,717
43,372
239,440
214,169
Commonw P,Ry& Lt. April
545,577
490,119
2,276,200 2.007,486
Coney Isl & Bklyn— April
118,205
110,535
437,398
411,716
Dallas Electric Corp. May
184,737
150,065
859,612
699,141
Detroit United Ry__ 4th wk June
335,048 306,502 6,205,228 5,328,471
D D E B & Bat (Rec) April
52,566
53.837
195,876
206,075
110,530
Duluth-Superior Trac June
98,894
596,107
549,431
East St Louis & Sub- May
221,798
196,824
1,055,475
954,431
El Paso Electric Cos. May
69,037
59.838
370,842
312,422
42d St M & St N Ave April
157,401
146,685
604,622
543,796
Galv-Houst Elec Co. May
202,470
168,519
905,333
751,991
Grand Rapids Ry Co May
107,572
102,627
510,598
484,640
Harrisburg Railways June—
85,812
78,905
467,987
437,151
Havana El Ry, L & P
Wk July 27
(Railway Dept)
53,809
49,908 1,613,665 1,444,585
Honolulu Rapid Tran
& Land Co.
May
51,957
46,271
255,920
227,775
Houghton Co Tr Co. May
24.644
24,088
122,472
I 117,235
Hudson & Manhattan Arpil
322,078 314,532
1,286,645 1,249,947
Idaho Traction Co.. June
34,772
36,425
199,471 >189,313
Illinois Traction
May
621,154 577,021
3,105,274 2,930,888
Interboro Rap Tran. June
2591,271 2507,143 16,760,698 16,395,469
Jacksonville Trac Co May
59,834
52,515
274,796
250,846
Lake Shore Elec Ry. May...
116.371
107,140
498,932
466,336
Lehigh yalley Transit June
148,222
129,983
794,482
674,034
Lewis Aug & Waterv. May
54,957
49,814
239,127
210,541
Long Island Electric. April
17,336
15,410
62,237 ;V 55,049
Milw El Ry & Lt Co. May
490.669
461,401 2,485,909 2,325,541
Milw Lt, Ht & Tr Co May
113,994
97,041
*511,566
434,399
78,737
Monongahela Val Tr. June
72,400
442,066
387,024
Nashville Ry & Light May
184,147
173,675
892,438
1,037,372
N Y City Interboro
April
48,663
36,107
184,453
134,323
N Y & Long Isl Tr... April
30,833
30.853
114,394
108,224
N Y & North Shore.. April
12,185
11,816
44,713.
42,125
N Y & Queens Co
April
107,596
103,356
408,969
375,496
New York Railways May
1232,153 1215,048 5,848,536 5,612,566
Northam Easton & W June
18,723
15,827
88.232
82,402
North Ohio Trac & Lt June
291,518 276,961
1,497,237 1,377,335
North Texas Elec Go May
183,317
148,060
834,726
650,370
Northw Pennsylv Ry May
30,874
26,674
129,344
115,214
Ocean Electric (L I). April
6,542
6,150
20,628
19,502
Paducah Tr & Lt Co. May
25.645
21,417
115,046
116,321
Pensacola Electric Co May
22,770
24,141
114,516
114,217
Phila Rap Trans Co. April
1998,245 1903,908 7,784,912 7.321,162
Port (Ore) Ry L&P Co May
549,852
543,813 2,724,648 2,669,653
Portland (Me) RR.. May
79,691
77,570
364.414
341,772
Puget Sound Tr L&P May
715,073
681,003 3,464,329 3,423,922
Richmond Lt & RR. April
26,615
25.854
100,294
96,553
St Joseph (Mo) Ry.Lt.
Heat & Power Co. May
98,836
94,248
503.415
473,233
Santiago Elec Lt & Tr June
37,613
30,247
224,885
191,943
Savannah Electric Co May .i
70,026
63,524
333,193
298,005
Second Ave (Rec)
83,044
April
75,862
318,712
286,264
Southern Boulevard. April
15,779
10,593
57,180
38,270
Staten Isl'd Midland. April
19,499
18,686
71,507
68,015
May
Tampa Electric Co
69,556
63,365
325,927
308,227
Third Avenue
328,335 308,719
April
1,287,850 1.219,038
Twin City Rap Tran. 3d wk July
175,026
158,085 4,751,728 4,403,233
Underground Elec Ry of London
London Elec Ry
Wk July 19 ~£13,090
£12,335
£409,325
£404,360
Metropolitan Dist. Wk July 19 £12,734 £12,102
£381,054
£366,616
London Gen Bus
Wk July 19
£66,505
£59,570 £1,780,681 £1,392,686
Union Ry Co of NYC April
■214,788 200,099
801,619
741,075
395,679
UnionRyG&ECoflll) May
275,795 1,950,386
1,478,606
United Rys of St L__ May
1120,757 1085,013 5,144,938 4,901,759
Westchester Electric. April
42,644
38,940
161,726
163,775
Western Rys & Light June
204,435
182,981
1,206,239 1,065,406
Yonkers Railroad.__ April
58,635
63,710
194,896
221,569
York Railways
65,684
May
58,329
300,631
280,263
Younsgtown & Ohio. May
21,020
18,683
94,540
89,971
Youngstown & South May
14.585
13,558
63,692
69,206
.....
410,731
5,040,740
Charges and Surplus.
-Int., Rentals, &c.—
Roads.
-Bal. of Net Earns.—
Current
Previous
Current
Year.
Year.
Year.,,
$
Bay State Street Ry—
Apr 1 to June 30
July 1 to June 30—
Previous
Year.
>
:
$
•
Cleve Southw & Col
Jan
511,294
June
1 to June 30
1,912,262
413,321
1,840,329
362,932
1,440,478
575,821
1,469,464
31,744
187,547
30,995
182,598
16,094
30,276
14,461
*27,719
511,294
1,912,262
413,321
1,840,329
362,932
1,440,478
575,821
1,469,464
58,606
43,817
262,925
54,557
225,673
54,649
583,213
Massachusetts Elec Cos—
Apr 1 to June 30
July 1 to June 30
Jan 1
to June 30_.
343,106
78,655
321,580
Republic Ry & Light...June
July 1 to June 30-
535,028
43,942
531,378
Twin City Rap Trans..June
Jan 1 to June 30—*
145,443
878,629
143,079
855,475
245,810
1,185,677
213,485
1,022,039
United Lt&Rys(sub cos) J'ne
July 1 to June 30
113,715
1,209,121
93,926
1,111,362
69,970
1,152,153
68,264
918,382
*
41,991
41,618
475,360
•
After allowing for other income received.
ANNUAL REPORTS.
...
Annual Reports.—'An index to annual reports
of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month * This index will
not include reports in the issue of the."Chronicle" in which
it is published.
The latest index will be found in the issue
of July 26.
The next will appear in that of Aug. 30.
*
Colorado & Southern Railway.
(Preliminary Statement for Fiscal Year ending June 30 1913.)
COMBINED SUMMARY OF OPERATIONS OF ALL COL. & SO. LINES.
1912-13.
1911-12.
1910-11.
1909-10.
L868.93
1.813.17
2,008.39
(?)
315,077,667 $13,960,826 $15,824,064 $16,777,981
10,622,962
-9,616,454
10,334,111
10,863,455
—
...
3,926,120
earnings here given are before deducting taxes.
Interest
Previous
-Year.
692,417
Net earnings here given are after deducting taxes,
North'n Ohio Trac & Lt.June
Current
Year.
754,495
4,230,531
United Lt & Rys (sub cos) J'ne
477,176
July 1 to June 30——. 5,698,929
Jan. 1 to latest date.
American Rys Co... June
Atlantic Shore Ry
May
c Aur Elgin & Ch Ry. May
...
Twin
b Net
<D»
Western Express Co.—
Gross receipts from operation
Net Earnings
Previous
Year.
Current
Roads.
Express privileges—Dr
Earnings
xcvii.
Mileage
Operating revenue
Operating expenses
——
Net operating revenue $4,454,705
520,546
$4,344,372
511,470
$5,489,953
478,323
$5,914,526
477.870
Operating income.._. $3,934,159
606,587
$3,832,902
532,749
$5,011,630
81,484
$5,436,656
Total
$4,540,746
$4,365,651"
$5,093,114
$5,616,642
$2,875,483
340,000
340,000
$2,864,833
340,000
340,000
$2,794,522
340,000
340,000
$2,665,009
Taxes
.>
—
Misc. credits to inc. (net)
..._i_
—
179,986
Deduct—
Interest
First
on
bonds, &c—
pref. divs., 4%—
Second pref. divs.,
Common dividends
4%.
.
340,000
340,000
—(1%)310,QOO(2%)620,QOO(2%)620,000(2%)620,000
__
...
Total
$3,865,483
$4,164,833. $4,094,522
$3,965,009
$675,263
$200,818
$998,592
$1,651,633
operations of Colorado Springs & Cripple Creek District Ry.,
74.25 miles, are omitted after Nov. 1 1911, the road now being leased to the
Cripple Creek Central Ry. system.
The operating revenue of the C. S. &
C. C. D. Ry. from Nov. 1 1910 to June 30 1911 was $435,224.—V. 96, p.359.
deductions....
Balance, surplus
,
Note.—The
West Penn Traction
& Water Power Co.,
Pittsburgh.
,
(Report for Fiscal Year ending Dec. 31 1912.)
"
.....
_
_
.
.....
•
C
These figures
are
for consolidated company.
Electric Railway Net Earnings.—The following table
gives the returns of ELECTRIC railway gross and net
earnings reported this week:
Gross
Earnings
Current
Roads.
Net Earnings
Previous
Year.
Year.
Current
Year.
$
$
$
'
Bay State Street Ry.b—
Apr 1 to June 30....— 2,433,945
July 1 to June 30...—. 9,462,251
Previous
Year.
$
2,340,477
9,116,203
874,226
3,352,740
989,142
3,309,793
Cleve Southw & Col.b.June
Jan 1 to June 30
111,601
575,158
105,173
540,343
47,838
217,823
209,785
Georgia Ry & Power ...June
431,993
420,097
2,575,089
213,407
1,330,219
231,276
1,384,150
12,593
63,140
13,906
47,843
874,226
3.352.740
3,309.793
Jan
Idaho
1
to June
30...2,661,134
TractionJune,
Jan 1 to June 30
Massachusetts Elec Cos.b—
Apr 1 to June 30
34,772
199,471 >
'•*"
2,433,945
July 1 to June 30...... 9.462.251
36,425
189,313
2,340,477
9,116,203
•
45,636
989,142
Pres. W. S.
Kuhn, Pittsburgh, April 1, wrote in substance
(compare map, (fee., on pages 105 and 106 of "El. Ry. Sec."):
Results.—Gross earnings in 1912 amounted to $3,408,586, an increase of
50.8%; net earnings to $1,579,126, an increase of 37.55%; and surplus
applicable to dividends, after all charges, to $784,378, an increase of 26.56%.
There was issued at different periods during the year $4,711,000 of 5% 1st
M. bonds of the West Penn Traction Co. to reimburse that company for
improvements and acquisitions at 90% of the cost thereof,?
„
Considerable of the new construction work was completed, but compara¬
tively slight benefit therefrom is reflected in the present report, though this
should be an important factor in 1913.
Expenses were increased mainly
by higher wages, extraordinary outlay on new properties and unexpected
maintenance charges incident to exceptional weather conditions.
Never¬
theless, light, power and traction receipts showed gains of 25 to 50%.
The
company began operations as of Jan. 1 1912, taking over control of the
West Penn Traction Co. and its subsidiaries (see V. 94, p. 984, 1318).
The district in which the constituent companies own and operate electric
light", power and street railway properties stands pre-eminent as the iron
and steel centre of the world.
The unprecedented^increase in the export
^novement of iron and steel products has contributed to prosperity of the
community as a whole and of our seven counties in particular.
In 1908
the value of iron and steel exports from the U.S. was $151,113,114; in 1912,
Trade authorities state that over 75% of iron and steel
$289,128,420.
exports is shipped from West Penn territory.
Industries related to iron
and steel have shared in the unparalleled activity of the past 18 months.
Earnings of transportation and electric-lighting and power companies have
been favorably affected by this situation, not only by increasing the popu¬
lation of the towns and cities, but also by the consequent enlargement of
the supply of money available for expenditure.
We believe, moreover, that
the outer belt in which the West Penn system operates is certain to receive
added impetus in the next few years, since desirable manufacturing sites
in the heart of the region are limited.
Additional Installations.—The steadily expanding use of electric power
necessitated the installation last year of two turbo-generators, each of, a
maximum capacity of 12,000 k. v. a., or 16,000 h. p., at the central station
at Connellsville.
In addition, a contract has just been let for the installa¬
tion there of two turbo-generators, each of a maximum capacity of 19,000
k. v. a., or 24,000 h. p.
The first will be installed and in operation about
Nov. 1 next and the second in 1914.
The first unit from the Cheat River
hydro-electric plant is under contract for completion before Jan. 1 1914.
Transmission branch lines were extended in all directions.
Five new sub¬
stations were placed in service and six are nearing completion.
The
changing of the remaining original 25-cycle installation to 60-cycle resulted
in increasing efficiency.
Power Contracts.—New contracts for power taken in 1912 aggregated
18,300 h. p., of which 11,271 h. p. had not been connected on Dec. 31, but
connections are being made as rapidly as possible.
This indicates that earn¬
ings from power in 1913 will be substantially augmented, without any»
additional contracts, whereas, at the opening of the present fiscal yea£>J
negotiations were in progress for 24,767 h. p., a large portion of which has
since been booked.
Iron and steel, coal ana coke, sand, glass and other
companies have been convinced that West Penn power is cheaper than
steam power produced at individual plants, and this department pf our
Aug. 2
THE
1913.]
business promises to
develop rapidly.
miles
Sinking funds on bonds
of subsidiary cos
Deprec.& reserve funds
(regular provision)...
Interest on U. S. Steel
JUNE
30.
1911.
1910.
''
•
Balance.
$5,075,119
$6,268,680
$720,256
5,569.949
Corporation bonds
5,642,546
5,714,111
5,783,293
5,849,363
1,669,416
1,597,852
1,528,670
1,462,599
$14,941,748 $12,387,082 $13,580,643 $13,602,167
$26,278,065 $12,715,183 $14,527,877 $26,568,793
now
on
$7,629,786
Sinking funds on U. S.
Steel Corp. bonds
Hydro-Electric Development.—The first of three water-power plants is
being erected by the (subsidiary) Hydro-Electric Co. of West Virginia
the Cheat River near Cheat Haven, Pa., at the Pennsylvania-West
ENDING
1912.
$41,219,813 $25,102,265 $28,108,520 $40,170,960
Net earnings
Deduct—
The
-
QUARTERS
1913.
Pittsburgh.
of
FOR
RESULTS
The Pittsburgh Coal Co., the largest
single producer of bituminous coal in 'the world, is to equip all its mines in
West Penn territory with electric power, purchased from your company.
It might be mentioned that the Pittsburgh Coal Co. is preparing to develop
over 80,000 acres of virgin coal land, having already contracted for the
building of 34 miles of track to connect with the Bessemer RR., and for the
opening of seven new coal mines.
Several steel companies were connected
to your transmission lines last year, and the amount of power used in steel
mills is likely to increase materially, notwithstanding the fact that the
district has the best and cheapest bituminous coal in this country.
Census
Bureau reports showed 2,000,000 h. p. generated by steam within a radius
of 70
295
CHRONICLE
-
Virginia State line (progress illustrations of which are shown ip the pamphlet
Div.
on
$6,304,919
$6,304,919
The dam will have a gross height of 104 ft., total length 1,000 ft.;
spillway section, 624 ft.
As a protection against floods, 25 steel gates, 17
Div.
on com.
$6,304,919
6,353,781
$6,304,919
report);
6,353,781
6,353,781
6,353,781
21 ft. long, wilh.be erected on top of the concrete structure
(but included in the above height), capable of discharging a volume of water
considerably in excess of the worst Cheat River flood on record (V.94,p.984).
The power-house, 250 ft. in length and 100 ft. in width, is being erected
as a portion of the dam structure, and is included in the total length of
I,000 ft.
It will include four water turbines of 12,000 h. p. each, thus
making the total generating capacity 48,000 h. p.
The net maximum head
is 85 ft.
The power is to be transmitted at 120,000 volts over our proposed
lines into Northern West Virginia and Southeastern Pennsylvania for dis¬
Surplus for quarter—$13,619,365
On account of expendi'
'
tures made and to be
$56,483
NET EARNS. FROM OPERATIONS FOR
tribution of the power to industrial centres.
The water-shed of the Cheat River above the State line development has
area of 1,415 sq. miles.
The reservoir will be 13 miles long, storage
January
February
ft. high and about
prop'y,
plants,constr. ,&c.
new
.
7,500,000
—
Total
—
1910
$5,869,416 $11,316,014
*7,156,247
7,180,928
11,616,861
10,468,859
14,684,001
.$34,426,801 $17,826,973 $23,519,203 $37,616,876
.-.*$13,072,710 *$7,509,207
$9,412,573 $13,414,956
*14,554,566
*8,846,821
9,590,444
13,229,289
*13,592,537
*8,746,237
9,105,503
13,526,715
quart er__
April
May
June
.—$41,219,813 $25,102,265 $28,108,520 $40,170,960
.—$75,646,614 $42,929,238 $51,627,723 $77,787,836
Total
Total
1911
1912
*12,254,217
$6,410,093
HALF-YEAR END. JUNE 30.
__*$11,342,533 *$5,243,406
*10,830,051
*5,427,320
—
March___
upon
$1,869,177
$56,483
1913
ft.
The contract for construction of dam and power¬
was let last July.
At present work is being concen¬
the power-house section, and by April 1 1913 approximately
II,000 cu. yds. or concrete had been laid.
The cofferdam will be extended
across the river by May 1, and work on the remainder of the dam started.
A branch line has been built from the B, & O. RR. at Cheat Haven to the
dam site, and is now being extended farther up the river.
Construction
materials are being delivered over this railroad.
New Acquisitions.—We acquired in 1912 the following properties:
The
Wheeling Traction Co. and its constituent companies, which own and
operate 87.05 miles of track in W. Va. and Ohio (V. 95, p. 237); the Alle¬
gheny Valley * St. Ry. Co., operating 22 miles of track, which affords an
entrance into Pittsburgh; the Allegheny Valley Light Co. and the Butler
Light, Heat & Motor Co.
The Brooke Electric Co. has been incorporated
to operate in municipalities in West Virginia and the Jefferson Electric Co;
has been Incorporated to operate in municipalities in Ohio.
Franchises
have been secured, or are pending, in both States.
Improvements, &c.—Car shop equipment was increased and our shops are
now most thoroughly equipped.
Car barn capacity was increased and the
replacing of old motors with our modern standard type was continued.
Four new 700-type cars for heavy interurban travel were constructed in our
shops and placed in operation.
Six more are being built.
Recently-ac¬
quired properties are being improved to our standard, sufficient appro¬
priations having been made for this purpose.
■
.
Progress is being made in the erection of the Union town terminal station.
The Uniontown-Phillips line will be completed about June 1.
The Masontown-Martin extension was placed in operation on Jan. 5 1912, and earnings
thereof exceeded estimates.
The McClure cut-off was completed in Oc¬
tober.
On Dec. 31 last the system had a total of 266.51 miles of hightension transmission lines completed and in operation.
Surveys were made
for 18 sections of-high-voltage transmission lines aggregating a total of
203.68 miles, while surveys were also made and locations completed for 25
low-voltage distributing lines amounting to 54.66 miles. • The 135 miles
of high-tension lines in operation at the end of 1911 represented construction
covering a period of 9 years; therefore; in 1912, the company practically
doubled the territory previously served with electric-light and power.
The
daily output of the power department was increased practically to 250,000
k. w. hours, while the efficiency rated in percentage of sub-station to powerstation output was raised from 81.54 to 88.98%.
quarter
half-year
*
After deducting interest on subsidiary companies' bonds outstanding,
$838,497, $847,132, $842,298, $839,524, $831,627 and $830,669, respective¬
ly, against $723,657, $722,439, $721,371, $807,038, $847,294 and $847,120
in 1912, no such deductions having been made in previous years.
ACCOUNT FOR
INCOME
.
HALF-YEAR
1913.
Tot. net earns,
ENDING JUNE 30.
1911.
1912.
1910.
half-year $75,646,614 $42,929,238 $51,627,723 $77,787,836
Deduct—
For sinking funds
:1$18,029,494 $12,391,529 $12,815,904
Depr. & reserve funds,/
Add'l prop., constr.,
Balance
—
Dividends
Preferred
on
Total
11,725,975
12,500,000
$29,340,249 $23,847,489 $24,4.09,991 $39,527,812
.$46,306,365 $19,081,749 $27,217,732 $38,260,024
(3M%)
Rate of div.
Balance.
_
($3,902,656
111,399,181
Stocks—
Common—
—V.
&c.
deductions
Total
11,455,960. 11,594,087
11,310,755
Interest
—
on common
$12,609,838 $12,609,838 $12,609,838 $12,609,838
12,707,562
12,707,562
12,707,562
12,707,562
(2}i%)
(2H%)
(.2)4%)
(2%%)
dividends.—.$25,317,400 $25,317,400 $25,317,400 $25,317,400
sur .$20,988,965df .$6,235.651 sr$1,900,332sr$12942,624
96, p. 1707.
General Chemical Co., New York,
;
(Statament for Half-Year ending June 30 1913.)
.
Lighting and Railway Statistics-*1912.
Treas. Lancaster Morgan, N. Y., July 28, wrote in subst.:
•
Business
continues satisfactory.
There has been a slight contraction
as compared with the same period of 1912, involving
a
corre¬
sponding shrinkage of profits;, but this is not reflected in the profit and loss
statement, owing to the change in accounts due to the absorption of three
Lighting Companies
Railway Companies—;
Power plants—steam & gas,No
Miles of track—total...—
299
13
Peak load capacity—steam &
Cars owned—total.
326
gas (h. p.)
5,893,008
___—75,874 Car miles, 1912*..
Sub-stations, No
28 Car hours, 1912*
543,942
High-tension pole line—miles.
42,748,252
266 Pass, carried in 1912*
Transmission circuits—miles
Total Population served—
366
Connected load (h. p.)__
55,510 All services (about) —900,000
Individual consumers, No
16,042
.
in volume
subsidiaries.
-
_
of
_
'.
ments from
important alterations at the Hudson River works
Waynesburg Elec. Lt. & Power Co.
Pittsb. & Allegheny Val. Trac. Co.
Kiskiminetas Valley Electric,Co.
KIttanning & Leechburg Rys. Co.
Kittanning Electric Light Co.
Allegheny Valley Street Ry. Co.
'
that
PROFIT AND LOSS ACCOUNT FOR THE HALF-YEAR.
RESULTS
OF
OPERATING
Fire insurance reserve
Panhandle Traction Co.
Deduct—
Hydro-Electric Co. of West Virginia.
,
■
•
'
•
CALENDAR
Net (after
Gross
*
^Calendar Year—
SYSTEM FOR
,
Earnings.
Taxes).
$1,551,138
$691,874
786,575
1,054,360
1,148,006
1,579,127
(128.24%)
■
1,767,915
1910.
2,042,002
1911-2,260,287
1912
"
3,408.586
Increase, 4 years____________ (119.75%)
____
.
YEARS.
Interest
\
Balance
on Bonds
forDivs.
$245,568
$446,306
326,748
459,827
583,856
470,504
619,730
528,276
784,378
794,748
1-— (219.42%)
'
$1,163,308
$375,000
256,767
$375,000
244,539
207,691
47,723
$483,294
$496,046
Chicago.
Total income
...
_
Dividends
Total
r
—
Balance, surplus
stock, $6,497,400; com. stock, $20,497,400;
$159,378; accounts payable, $9; West Penn
Railways Co
$202,287; total
_$27,356,474
See also V. 97, p. 178.
($9,816,09*1
\ 8.184,130
$1,798,438
1,981
$1,631,963
2,174
$1,800,419
reported.
239,224
195,056
201,795
$1,634,137
$168,750
(7)404,577
150,000
$1,278,483
$952,786
$1,027,937
$204,160
$955,889
$844,530
$723,327
$910,810
$2,231,269
$261,750
(10)777,509
Deprec. & exhaustion
one-
^^ capita1 stock of The Hydro-Electric Co. of W. Va.,
$26,994,800; cash and accounts receivable, $361,674
.$27,356,474
Liabilities—Prei.
'
Not
.
..
z$2,179,491 x$l,230.703
51,778
'
1,394:
^
income,-
Deduct-*- Interest
DEC. 31 1912.
Not
reported.
1909-10.
1910-11.
1911-12.
1912-13.
'
Not
__/ reported..
Net earnings
Other
bonds of sub. companies
West Penn Rys. Co.
Assess—Common capital stock of West Penn Trac. Co. and
$1,322,752
$412,500
$459,896
>c. & exch.l
Sales, less disc.
exch.\
of West Penn Traction
Co., $143,220, and int. on
bonds and bonds of its sub.
companies, $461,625.
W. P. CO.,
$1,374,822
Inland Steel Co.,
Cost of sales.
Available for div. on West Penn Trac. & Water Power com. Stock_$159,378
Interest on bonds" in 1912 includes: Int. on
5% bonds of West Penn
Traction Co. from dates
BALANCE SHEET OF WEST PENN TRAC. &
30,000
(Report for Fiscal Year ending June 30 1913.)
6 % on $1,6*25,000 cum. pref. stock of West Penn
($97,500)
2..$235,000
$6,500,000 cum. pref. stock of West Penn. Tr. & Wat.P. Co. 390.000
on
$1,193,308
30,000
297,426
120,000
65,000
20,000
Balance, surplus.
96. p. 1427.
($137,500) and
int.
V
$1,352,752
30,000
-V.
L?n $2,750,000 pref. stock of West Penn Railways Co.
issued, $189,903;
1911.
$1,404,822
'
(3%)
Common dividends (3%)
Depreciation of plants (est.)
1.^.
Profit sharers' account (est.)
.•
Reserve for Federal taxes, (est.)_
Traction Co.
on
1912.
1913.
Netprofits..
Wheeling Traction Co.
Steubenville & Wheeling Trac. Co.
Preferred dividends
-
June 30 1913, but
•
The Delaware works have been completed and ship¬
point commenced in April, enabling us to dismantle cer¬
tain other works where manufacturing "viras less economical.
The outstand¬
ing minority interests in the stock of the Pulaski Mining Co. and in the com¬
mon stock of the General Chemical Co*. of California have been purchased.
In accordance with the company's general policy of owning its properties
directly as far as practicable, rather than through "controlled corporations,"
the plants of the General Chemical Co. of Pennsylvania, the Baker &
Adamson Chemical Co. and Pulaski Mining Co. have been acquired in fee.
have been finished.
Allegheny Valley Light Co.
Butler Light. Heat & Motor Co.
Ry.Co. Latrobe-Hecla Street Ry. Co.
Washington Elec. Lt. & Power Co.
Inter-Borough Electric Co.
Canonsburg El.Lt., Ht. & Power Co.
Citizens' Elec. Lt., Ht. & Power Co.
'
report may be expected quarterly, with a full balance
Principal Constituent Companies.
Latrobe Street Ry. Co.
West Penn Interurban Ry. Co.
Pittsb. McK. & Connellsv, Ry. Co.
Uniontown Radial Street Ry. Co.
Mason town-Morgan town St.
expected to have any direct bearing upon
not
are
sheet at end of each fiscal year.
Since the last report the
.
Westmoreland Electric Co.
special change noted in the market price of our products.
business.
The annexed statement covers the six months ending
hereafter a similar
Wheeling Traction Co. and
Allegheny Valley Street Ry. Co.
West Penn Traction Co.
West Penn Railways Co.
West Penn Electric Co.
No
The tariff revisions
our
♦Includes only three months' operation of
ten months
6%
-
Bal., sur., for quarter $13,619,365
capacity 40,000 acre
house sub-structure
1908
$1,869,177 $13,910,093
made for add'l
an
trated
pref. stk.(l % %)
stk.(lM).
.
$1,232,097
$150,750
$159,750
(10)682,131
(10)594.344
Profit andloss,
x After
deducting $1,106,258 for maintenance
against $958,648 in 1911-12.
_____
and repairs of plants,
The
United
regular annual dividend rate is 7% (Q.-M.).
and 1913 3% extra was paid.
States Steel Corporation.
BALANCE
(Earnings for the Quarter and Half-Year ending June 30 1913.)
.
ji.SSCtS^""
The following statement of the corporation and its sub¬
sidiaries for the quarter ending June 30
given out on
Tuesday after the regular monthly meeting of the directors.
The "net earnings" as here shown "were arrived at after
deducting each month the cost of ordinary repairs and main¬
tenance of plants and interest on bonds and fixed charges of
subsidiary companies."
For unfilled orders
ments"
on
hand
see
July 12 1913 (page 95).
was
"
receivable-
Insur. unexpired.
_
Cash
Cash for new constr
Mlscell. items
,
'
S
2,811,407
receivable.__
69,101
Accts.
"Trade and Traffic Move¬
.
1912.
S
Inventories
Bills
■
r
Total
—V. 95,
p.
1749.
SHEET JUNE 30.
1913.
Land, plants, &c_13,259,126
1,609,079
5,245
566,287
1,000,000
13,913
On May 1 1911, 1912
10,713,339
2,360,849
1913.
Bonded
debt
77,392
Accounts
Pay-rolls
4,842
491,208
19,334,158 14,662,101
7,157,170
2,400,000
670,590
182,104
payable.
381,906
Miscellaneous
Taxes accrued
'
40,835
*
127,703
8,416
33,617
.36,000
735,795
Surplus
33,750
986,892
4,786,412 *3,781,494
Total
19,334,158 14,662,101
Interest accrued..
"~8~,l63
$
7,883,625
4,750,000
stock
1,006,308
1912.
$
Liabilities—
Capital
Reserves
CHRONICLE
THE
296
American
Thread
stock of $100 each
and 200,000 shares of common stock,
without nomina
value (Y. 95, p. 1279, 1335).
It owns or controls by stock ownership:
Milwaukee Light, Heat & Traction Co., Milwaukee Electric Ry. & Light
Company.
or par
(,Statement for Fiscal Year ending March 31 1913.)
'
1912-13.
1911-12.
1910-11.
1909-10.
11,683,463
$1,366,775
$1,933,619
$2,441,844
$506,483
240,000
$494,588
240,000
$529,100
240,000
$505,874
240,000
'
Gross
profits
Deduct—
Depreciation.
Bond
interest.
General
300,000
reserve
Res. for conting. on stks_
Pref. dividend (5%).—
Common
300,000
244,524
dividend:.——(12)648,000
Balance, surplus—
Land,
water
steam
1912.
$
$
(15)810,000
$63,663
$79,995
$341,446
power,
cost....
5,975,232
15,235,492
ble.net
1,406,671
1,024,814
1,137,741
288,822
294,136
59,064
305,615
investm'ts
Advance payments
Total.
43,125
S
5,400,000
4,890,475
6,000,000
691,321
697,722
64,011
578,T37
65,463
Depreciation fund. 4,341,749
3,903,982
Bills
6,409,104
receiva-
Cash
1912.
S
5,400,000
5% pref., fully pd_ 4,890,475
4% 1st M. bonds. 6,000,000
Accounts payable604,634
stock...
payable
Bond int. accr.,&c.
'
Sundry
244,524
,
1913.
Liabilities—
Common
and
mills, machin'y,
plant & effects. 15,433,875
Stock in trade, net
Accounts
244,524
(10)540,000
SHEET MARCH 31,
BALANCE
1913.
■Assets—
244,524
(6)324,000
$44,456
Div.
on com.
stock
Reserves....
513,000
745,276
Balance forward..
936,925
payable In July-
324,000
673,452
892,469
24,193,792 23,419,899
Total.
24,193,792 23,419,899
-V. 96, p. 717.
Buffalo
(N. Y.)
Gas Company.
(Report for Fiscal Year ending Dec. 31 1912.)
•
Pres. Alex. C.
Humphreys, July 10, wrote in substance:
expectation of being
This report has been delayed month by month in the
able to include a final statement on the litigation with the City of Buffalo,
which was commenced Sept. 1908.
As applications are constantly being
received for the report, I have decided to wait no longer.
On April 4 1913 the P. S. Commission handed down its decision
stating
that, after full consideration, the Commission finds that 90c. per 1,000
cu. ft. is the just and reasonable maximum charge to be made by the said
company
for its
to the city as a municipality for the gas supplied and to be supplied
this decision applying only to "that gas which is and may be
use,
supplied to the City of Buffalo."
k>r
During
the
whole
period
of
this
controversy we
have been
billing the gas supplied to the municipality at 95c. a 1,000 cu. ft., and the
city has been paying on account, under order of Court, at rate of 70c. The
yearly financial reports during this period have been based upon the 95c.
rate.
On the basis of the 90c. rate a readjustment would be required, 5c.
Since April 4 the Com¬
1,000 to be deducted and interest to be added.
per
mission has promised, week by week, to issue the explanatory opinion.
As
the city has refused to accept the 90c. decision until its law officers can study
opinion, it has been impossible to report finally on the litigation.
The competition with natural gas, which is sold at 30c. a 1,000 cu. ft.,
difficult
to
meet.
The Natural Gas
Company
the
continues to be most
continues to extend its distributing mains.
-To compensate'for the loss in
sales thus suffered by this company, it has been necessary to extend our
mains to the outlying districts.
This has cost about $600,000 during the
last 10 years, absorbing our working capital and yearly surpluses after
paying bond interest.
We were unable
RESULTS FOR
CALENDAR
1912.
profits
Interest
on
290,250
290,250
290,250
290,250
def.$23,331 ,sur.$23,471
sur.$37,940
sur.$6,265
BALANCE
$
SHEET DECEMBER 31.
$
14,907,666
47,652
95,000
54,727
210,598
65,349
.
Gas bills receivable
City of Buffalo...
Other accounts &
bills
receivable.
95,000
56,545
171,244
64,682
67,255
5,793
36,564
4,170
17,360
28,322
1912.
Liabilities—
accounts.
Bills payable.....
Accounts payable.Consumers' depo;3.
Cash
Prepaid accounts.
Other reserves, &c.
♦Accrued taxes, &c
Accrued interest..
Profit
15,444,327 15,412,911
*
"Already charged to operating.—V. 97,
and
Total
p.
—
loss...
.-!
1911.
S
Stock, common
Stock, pref., 6%..
Gold 5% bondsBench repairs
Reserve for imp't.
Open constructipn
Total
;
1911.
Plant & equlpm't.14 ,929,311
Materials & supp
Treasury bonds...
$296,515
$328,190
$313,721
1912.
Assets—
•
1909.
1910.
$2661919
bonds
Balance
YEARS.
1911.
:
7,000,000
1,713,000
5,900,000
9,143
170,000
35,955
77,890
54,908
55,462
18,570
217,687
191,712
Co., Wisconsin Gas & Electric Co., Watertown Gas & Electric Co., North
Milwaukee Light & Power Co., Wisconsin General Ry., Burlington El. Lt.
& Power Co.
[For earnings, &c., of sub. cos. see V. 96, p. 944.]
Notes Paid.—The 5-year 5% collateral trust notes, dated May 1 1907,
outstanding Dec. 31 1911, $1,910,000, were paid at maturity, May 1 1912,
and the indenture securing them canceled (v.
Our only contingent liabilities are the 1st M.
94, p. 1190).
bonds of the West Kentucky
Coal Co., on which Ave guaranteed the interest and sinking fund payments.
Total issued, $2,000,000; retired through the sinking fund,
$151,000.
Subsidiary Companies.
Milwaukee
Electric
Railioay & Light Co.—The operating revenues, in¬
cluding Milwaukee Central Heating Co., aggregated $5,682,356, an increase
of 10.7%, the railway department showing an increase of 4.1%, light and
power 31.7% and steam-heating 40.6%.
Gross income was $1,813,484,
increase 11.6%,
and net income, $1,098,277, increase 9%.
Additions to physical property cost $1,979,900, principally (1) 4.15 miles
of new track, (2) addition to power station, (3) Cold Springs car shops,
(4) new Fondulac Ave. car station, (5) 30 hew double-truck city cars, (6)
installation of 500 k.w. motor generator set, &c.
[See bond offering,
V. 95, p. 481; V. 96, p. 790.]
The company acquired the stock and mortgage debt and later the prop¬
erty of the Central Heating Co. of Milwaukee (successor of Milwaukee
Central Heating Co.), and made the same subject to the Gen. & Ref. mtge.
In 1906 the city of Milwaukee
applied to the Wis. RR. Commission for
a reduction in the rate of street railway fare.
After an extended investi¬
gation the Commission in Aug. 1912 ordered the company to discontinue
the present ticket rate of 25 for $1 and to sell 13 tickets for 50 cts.
It also
entered an order requiring the extension of the city single-fare limits to
Wauwatosa, West Allis and East Milwaukee.
On the ground that a fran¬
chise granted in 1900 provides for the rate of fare within the limits of Mil¬
waukee during the life of the franchise, the company secured a temporary
injunction and the case is now on appeal to the State Supreme Court
[which in June upheld the Commission; V, 96, p. 16291.
Milwaukee Light, Heat & Traction Co.—The operating revenues aggre¬
gated $1,237,384, an increase of 10%; gross income was $1,204,530, a de¬
crease of 2%, and net income, $538,824, a decrease of 4%.
Additions to
physical property cost $267,689.
(See bal. sheet, V. 96, p. 944.)
Wisconsin Gas & Electric Co.—All underlying bonds were retired and in
their place there were sold $2,000,000 5% 40-year 1st M. gold bonds (V.
95, p. 1124).
The company has also Issued $200,000 6% cum. pref. stock
and $1,000,000 common stock (see V. 95, p. 986).
The operating revenues aggregated $683,967, an increase of 17%; gross
income was $205,666, increase 11%; net income, $99,692, increase 19%.
Additions to physical property cost $157,205, chiefly for (1) additional
gas mains and gas services; (2) construction of 1.8 miles of track in Kenosha;
(3) purchase and rehabilitation of Public Service Building in Kenosha; (4)
installation of 1,000 k.w. turbo-generator; (5) addition to electric distri¬
bution system and transformers, meters and services.
Watertown (Wis.) Gas & Electric Co.—Operating revenues aggregated
$94,622, increase 7%; gross income, $38,416, increase 16%; net income,
$18,216, increase 34%
Additions to physical property cost $23,304.
Union Electric Light & Power Co., St. Louis.—Operating; revenues aggre¬
gated $3,145,086, increase.7%; gross income was$1,720,175, increase .6f
net income, $877,247, increase 2%.
[See bond offering in V. 96, p. 7l
and compare V. 94, p. 1769, 771.]
The company late in 1911 and again in 1912 reduced its rates for electric
lighting and power.
The energy sold has in consequence increased 11.4%.
It is believed that with the lower rates now prevailing, and with the ener¬
getic efforts being put forth to effect the sale of Keokuk hydro-electric
power, the operating revenues during the next few years will show sub.
st&ntiHl
increases
physical property cost $306,154, notably for (1) conduit and
hydro-electric power; (2) extensions to over¬
system; (3) additional coal-handling facilities, switch¬
board capacity, storage battery, transformers and meters.
Suburban Electric Light & Power Co.—Gross revenue increased 16.51%;
gross income increased 7.31%; Interest charges increased 195.32%. and
net income decreased .74 %.
The increase in operating expenses was largely
due to the increase in cost of power purchased.
Additions to physical
property cost $62,188.
(Name changed in April 1913 to Electric Co. of
Missouri.
Capital stock, auth., $2,000,000 ' common and $1,750,000
cum. pref.;
issued, $1,250,000 and $750,000, respectively; new mortgage'
bonds issued, $1,750,000.
V. 96, p. 1026.).
Mississippi Oliver Power Distributing Co.—This subsidiary is under
concr&c tt</purchase from the Mississippi River Power Co. and to sell to
the Union Electric Light and Power Co. and the United Railways Co. of
St. Louis 60,000 h.p. of Keokuk hydro-electric power.
In order to do so
it has acquired a right-of-way 100 ft. wide and about 10 miles long, between
Florisant and a point on Page Ave., just outside of St. Louis, and has under
construction a sub-station designed to have a capacity of 60,000 k.w. of
step-down transformers and affording a space for the installation by the
Union Electric Light & Power Co. and the United Railways Co. pf St. Louis
Additions to
[See Iroquois Nat. Gas Co. in V. 95, p. 547.]
topay the coupons due Oct. 1 last, but they were sold to
friendly interests.
These coupons are a lien after the bonds themselves.
The coupons due April 1 last were paid from money borrowed upon the faith
of the city debt.
Our sales of gas during the past year were decreased .67% from the sales
of
the
previous year.
In
1911 the sales increased .79%; in 1910,
7.05%.
During 1912 many meters were removed; especially in central
districts, making a net decrease of 290, due principally to extension of mains
by the natural gas company.
During 1911 there was a net decrease of 406
and in 1910 a net increase of 593.
During the past year there was a net
increase in cooking stoves and other appliances of 627, contrasting with
increases of 388 and 553 in 1911 and 1910, respectively.
The gross profits for 1912 were $266,919, and there was required for bond
interest (5% on $5,805,000), $290,250, showing a net deficit of $23,331.
The net amount expended for extension and renewals was $21,646. against
$20,192 in 1911 and $64,119 in 1910. In the Buffalo City accounts receivable (in dispute) there is an excess of
floating debt over quick assets of $68,977, not including in assets the
$95,000 treasury bonds taken out some years ago to cover extens. & impts.
Net
[Vol. xcvii.
S
7,000,000
1,713,000
5,900,000
8,508
250,000
43,214
84,108
54,113
41,341
13,073
72,562
232,992
15,444,327 15,412,911
239.
(The) North American Company, New York. '
cable installation for Keokuk
head
distribution
.
.
they might require.
The Distributing Co.
July 1, when the Power Co. expects to commence
•of such converting apparatus as
will be in full operation by
regular delivery of Keokuk hydro-electric power.
(Compare Mississippi
River Power Co., V. 96, p. 1844, 1025.)
'
St. Louis County Gas Co.—Organized in Mo. in 1912, and acquired the
property and business of the St. Louis County Gas Co., issuing for this
purpose and the discharge of indebtedness $700,000 1st M. bonds out of a
total authorized issue of $30,000,000, and $500,000 capital stock.
(V.
.
n
.
,
_
^4tE
e gross revenue increased
11.60%; gross income increased 82.05%;
charges increased 106.15% and net income increased
67.23%.
operating revenue was affected greatly by voluntary reductions in
rates made early in the year.
The operating expenses decreased 11.34%,
notwithstanding large increases in the reserves for depreciation, amorti¬
zation and taxes.
Additions £o physical property cost $114,143.
United Railways Co. of St. Louis.—The operating revenues aggregated
$12,251,091, increase 2.79%, while gross income decreased 3.79% and net
income decreased 7.27%
The increase in operating expenses was chiefly
due to increase in cost of additional electrical power purchased, increases
in wages and increases in reserves for injuries and damages, taxes and de¬
preciation.
(See report, &c., V. 96, p. 647, 1775; V. 94, p. 1764.)
Additions to physical property cost $130,678.
The lower Court in 1912 decided the mill tax cases against the comlpany
and an appeal was taken to the Supreme Court of Mo.
The company has
in its treasury sufficient U. S. Government bonds, &c., to pay the accrued
mill tax should the Court of last resort decide against the company.
(V.
95, p. 1543, 1404, 1124.)
Detroit
Edison Co.—Gross revenue aggregated
$4,385,615, increase
21.8%; balance available for dividends and depreciation was $1,145,509,
an increase of 34.2%
With the growth of the industrial activity of the
Detroit district, the business shows continued large increases from year to
year arising from the sale of electric energy at low rates for highly diversi¬
fied uses.
(See report for 1912, V. 96, p. 1086, and bond offering, &c.t
in V: 97, p. 53.)
Additions to physical property cost $1,948,036, notably for cost of in¬
stallation of two 8,000 k.w. turbines in Delray plant No. 1, in excess of
cost of machines displaced; acquisition of additional water and flowage rights
in plant of Eastern Michigan Edison Co., &c.
There was offered to stockholders Jan. 3 1912 $1,500,000 additional stock,
which was practically all subscribed.
To discharge the floating debt,
occasioned by construction, an issue of new stock equal to 30% of the total
outstanding stock after the conversion of all the outstanding debenture
bonds ($250,200 Dec. 31 1912), was offered for subscription to stockholders
of Feb. 11 1913, and to holders of the debenture bonds who converted their
bonds into stock on or before March 1 1913 (V. 96, p. 205, 289).
West Kentucky Coal Co.—The policy of developing the property has been
continued.
Three years ago there were five operating mines; to-day there
are eight mines. producing coal at an increasing rate, and work on mine No. 9
was begun during the year.
interest
The
.
,
•
r
{Report for Fiscal Year ending Dec. 31 1912.)
:
The
earnings and bal. sheets were reported in V.96.p.943.
Campbell, March 19, wrote in substance:
Pres. James
Results.—After
deducting
dividends
(5%)
aggregating
$1,489,665,
amount as in 1911, we carried to undivided profits account
$641,562, against $367,201 in 1911.
Acquisitions.—During 1912 we acquired the capital stock and bonds of
the Kenosha Electric Ry., permitting the extension of the route of interurban cars from Milwaukee to the centre of Kenosha.
We also acquired
from the Milwaukee Light, Heat & Traction Co. the capital stocks of the
Racine Gas Lt. Co., Kenosha Gas & Elec. Co. and Watertown Gas & Elec.
Co., and consolidated the Racine Gas Lt. Co. the Kenosha Gas & Elec. Co.
and the Kenosha Electric Ry. Co. with the Wisconsin Gas & Elec. Co.
(V. 95, p. 1124).
i
The capital stock and indebtedness of the Burlington (Wis.)
Electric
Light & Power Co. was likewise acquired.
7
To obtain an additional market for Keokuk hydro-electric power and to
extend our properties in the St. Louis district, there were acquired all the
shares of capital stock of the American Light & Power Co. and Commercial
Telephone Co. of Union, Mo., the Tibbe Electric Co. and the Franklin
Independent Telephone Co. of Washington, Mo., and the Pacific (Mo.)
Electric Co,
The telephone companies have poles in common with the
electric light companies and their acquisition was necessary
Late in 1913 the Wisconsin Edison Co., Inc., was organized in N. Y.
State to provide an additional means of financing the future cash require¬
ments of the properties whose stock it, acquired from the North American
Oo.
The *ew company has issued capital stock of 100,000 shares of pref.
the same
Tonnage Mined During the Years 1906 to 1912.
1906.
Tonnage
Increase,
%
1907.
1908.
1909.
1911.
1910.
1912.
205,409 256,630 290,517 305,177 503,761 525,317 675.577
24.9
13.2
5.0
65.0
4.2
28.5
During the year 649,434 tons of coal were shipped, an increase of 29.5%
over 1911, and the sales aggregated 1,118,418, an increase of 32%.
An
unusual loss was sustained through the disaster to one of the company s
coal fleets on the Mississippi River, arising from the extraordinary tornado
occurring near Plaquemine, La.—Y. 96, p. 943, 1026.
-
Aug. 2
THE
1913.]
INVESTMENT NEWS.
GENERAL
1
INCLUDING
RAILROADS,
Topeka
Atchison
Santa
&
ELECTRIC ROADS.
Ry.—Purchase.—The
Fe
it is announced, has purchased an interest in the
St. Louis Rocky Mountain & Pacific Co. and will take
possession Aug. 1.
; '
company,
property In question has outstanding $7,699,000 1st M. 5% bonds
authorized issue of $15,000,000; $1,000,000 5% non-cum. pref. stock
The
of
an
and $10,000,000 com,, outstanding.
Over 75% of the com. stock is deposi¬
ted in a pool until July 31 1917 (under agreement of July 31 1912) unless
terminated by vote of not less than 75% of the pooled stock;
the trustees,
however, having the right to sell all or not less than $5,500,000 of deposited
stock at not less than par (V. 95, p. 1332).
The St. Louis Rocky Mountain & Pacific Co. owns 191,895 acres of high-
grade bituminous coal land in fee and has coal rights and surface necessary
328,430 additional acres east, west and southwest of Raton,
10 electrically equipped mines, total capacity 1,600,000 tons
for mining in
N. M., with
and coke ovens of 180,000 tons annual output.
Also owns all
securities of the St. Louis Rocky Mountain & Pacific Ry., a standard-gauge
line, 106 miles in length, extending from Des Moines, N. M., on Colorado
& Southern, west to Raton, on Atchison, and thence southwest to Preston,
yearly,
Dawson
and Ute Park. N. M., through the company's coal holdings.
Underlying Bonds Paid.—
See Gulf Beaumont & Kansas
City RR. below.—V. 97,
p.
1771.
Baltimore & Ohio RR.—Bonds Offered—Harris, Forbes
& Co., White, Weld & Co. and Clark, Dodge & Co. offered
publicly on Monday at 893^ and int., to yield over 4.60%,
the unsold portion (less than $740,000) of their block of
$2,740,000 new 1st M. gold 4s, dated 1898 and due July 1
1948 (Int. A. & O.), but red. at 105 and int. after July 11923.
Data (from Official
Sources) Furnished by Bankers.
Part of an authorized issue of $165,000,000, of which $80,000,000 are
outstanding, $75,000,000 are reserved to retire the Prior Lien 3^s of 1925,
and $10,006,000 are issuable for improvements, betterments and extensions
at not over $1,000,000 per annum.
A direct or collateral mortgage on
1,625.19 miles of road, terminals, buildings, appurtenances, equipment and
acquisitions, being a first lien on 575.66 miles, and, subject to $6,500
extended 1st 4s of 1935 and to the Prior Lien 3Hs of 1925, for the retire¬
ment of which an equal amount of the 1st M. 4s are reserved, they are a
future
lien
upon
of the B.
The property covered includes the main lines
1,049.53 miles.
O. between Philadelphia,
&
and Chicago (except
Washington, Wheeling, Pittsburgh
between Pittsburgh and Akron), and includes belt lines
in Baltimore and valuable terminal property In Philadelphia, Baltimore
and Pittsburgh.
Also secured upon about 1,600 miles of second, third
and fourth track and sidings.
•
Income Acct. for Year
Gross earnings—
Net, after taxes
end. June 30 1913, June Officially^Est. (V. 97, p. 113).
$l6l,541,9051 Total net income
$29,065,198
23,936,2631Interest, rentals, &c
15,864,068
V
"
.
;
Surplus after charges
,
,
1902.
Gross
Net
-
,
M
$13,201,130
Development as Shown by Growth of Earnings.
1904.
1906.
1908.,'
1910.
3.986
4,029
3,992
4,434
3,884
Mileage
...
.
1912.
4,455
_57,892,495 65.071,081 77,392,056 73,608,781 88,901,252 92,594,323
20,885,511 21,442,217 27,876,835 19,457,902 27,567,452 27,884,786
The increase for the decade,
therefore, in mileage is 14% and in gross
earnings 60%, while Income available for fixed .charges and dividends ad¬
$22,120,731 to $32,275,690, or 46%. against an increase in the
charge for bond interest and rentals of from $8,902,565 to $14,711,264,
or 44%.
For the year ended June 30 1913 the gross earnings exceeded
$100,600,000.
There are only four other railroads in this country whose
gross earnings equal that total.
Interest charges on these bonds will rank prior to the charges on $63,350,000 convertible 4^8, $20,000,000 5% notes and the 4% dividend on the
$58,685,435 pref. stock and the 6% dividend on the $151,949,997 common
stock.
On the basis of present low market prices there is an equitybehind
the 1st M. 4s of about $267,000,000.
See V. 97. p. 113, 174.
vanced from
Speyer & Co. and Kuhn, Loeb & Co. announce that the
$20,000,000 one-year 5% secured gold notes have all been
sold.—V. 97, p. 174.
Brinson
297
CHRONICLE
Ry.—New Officers.—The interests represented
by James Imbrie of New York, "who purchased the holdings
of Pres. Geo. M. Brinson (consisting, it is said, of $800,000
of the $1,000,000 common stock), on Wednesday elected the
following:
a) $6,000,000 new mortgage bonds, which will be exchanged, $ for $, for
$6,000,000 of the present First & Ref. M. bonds; and (6) $448,300 of new
capital stock.
Additional bonds will be reserved for future extensions and
betterments.
Bertron, Griscom & Co. of N. Y. City will surrender for
cancellation the remaining $1,066,000 First and Refunding M. bonds in
exchange for stock also, on the same basis, the$435,000 of unsecured debt;
and will reimburse the committee for the advance to First and Ref. M.
bondholders of the interest due Nov. 1 1912: and will pay the expenses of
reorganization and provide new working capital.
The new bonds to be received by the old bondholders will not begin to
draw interest until Jan. 1 1915, and will then draw interest for 1915 at 2%
per annum, for 1916 at 3% and for' 1917 and thereafter at 5% per annum.
The new company will issue $866,700 of capital stock in payment for
the interest (over 80%) in the $4,000,000 of the capital stock of the Buffalo
Lockport & Rochester Ry.
In order to connect the new company with the Buffalo Lockport & Roch¬
ester and obtain an entry to Niagara Falls the new company will lease the
Lockport division of the International Ry. Co. and obtain contracts over
the International Ry. and the tracks of the railway to be built on the frontier
right-of-way between Buffalo and Niagara Falls.
In this way a through
service will be established between Rochester, Buffalo, Niagara Falls and
Erie, Pa.
The new electrical company which it is proposed that the successor
traction company shall acquire would take over an existing contract with
the Electrical Development Co., Ltd., of Ontario and the Toronto Power
Co., Ltd., for the delivery of 46,000 h. p. at the international boundary,
thus assuring an ample supply of power for the lines of road between
Rochester and Erie, and leaving a large surplus of power for distribution in
the territory served
by the above-mentioned lines of railroad.
The
Canadian-American Power Corporation was incorporated at Albany on
July 30 with $4,000,000 of authorized capital stock m $100 shares ($3,000,000 being 8% pref.), to carry out this part of the plan.—V.95,p. 1206,1121.
Canadian Northern Branch Lines
See Canadian Northern Ry.
There
was
below.—Y. 92,
Co.—Amalgamation.
p.
321.
Northern
Canadian
Ry.—Amalgamation Effected.—
filed with the Secretary of State of Canada on
an agreement dated June 2 amalgamating with
the Canadian Northern Branch Lines Co (V. 92,
p. 321); also on July 22 an agreement dated May 12 amal¬
gamating the Winnipeg & Northern Ry. Co.—V. 97, p. 236.
July 21 1913
the company
Northern
Canadian
Pacific
Ry .—Sale
Terminal Debenture Stocks—A London
of $4,000,000
dispatch says:
The
$4,000,000 4% % terminal debenture stock of the Canadian Northern
before advertised time of closing
premium.
Interest ou this deben¬
ture stock is guaranteed by British Columbia Government.
The road is
controlled by Canadian Northern and is to build from Yellowhead Pass to
Vancouver, including ocean terminals at latter place and some branches.
See V. 96, p. 651, 1838.
Pacific Ry. has been fully subscribed
books.
Subscriptions are quoted at
Canadian Pacific Ry.—Special:Interest Payment on Stock
Subscriptions .—Notice is given, by adv. on another page,
that, in accordance with the President's circular to share¬
holders dated Jan. 3 1913, offering them the right to subscribe
for $60,000,000 new and ordinary stock (V. 95, p. 1402), an
interest payment at 7% or
$3 67-164 per share, will be
paid on Oct. 15 next on the first four installments ($140) from
the due date of each installment to Sept. 30 1913 on the
shares represented by the certificates of subscription, to
holders of record at the close of business Aug. 18 next who
have paid their installments on or before their respective due
dates.
will be mailed from New York to the registered
1913.
paid in full will rank with the existing stock
for the full dividend accruing for the quarter ending Dec. 31 1913, which
dividend will be payable April I 1914-:—V. 97, p. 175.
\
The interest payment
addresses of holders,
or
their duly appointed attorneys, on Oct. 14
All the shares of the issue when
Cassville
mile road
&
was
Western Ry.—Foreclosure
on
Sale.—This 434-
June 30 sold under foreclosure for $31,050
to C. M. Robeson of
Neosho, Mo.
Upset price was recently reduced from $45,000 to $30,000.—V.96,p. 1295.
Chesapeake & Ohio Ry.—Dividend.-—"Fin. Am." says:
It is learned that there is a preponderance of opinion among the directors
of the Chesapeake & Ohio Ry. Co. that the dividend should be reduced at
the next meeting for taking such actio# to 4% per annum.
Therefore, it is
believed in well-informed circles that
sucfy.action will be taken.—V 97,p.l75.
Chicago's Alternate Plans for City-Owned Passenger
Subways.—Ordinances.—May^lffi-rrison
and the City
Chicago are preparing to submit to the voters at
the annual municipal election in April 1914 two ordinances
for the construction of passenger subways in that city.
These ordinances are being so drawn that an expression of
preference by the voters will become binding on the City
•Council as to which of the two forms of subway contract the
Brooklyn & North River RR.—Franchise.—The Board
latter may enter into.
•
*
..
of Estimate and Apportionment on July 31 granted a fran¬
Officers:
President, John Heard Hunter, and Vice-President, John E.
Foy .both of Savannah.
Directors: Mills B. Lane (Pres. Citizens' & Southera. Bank), J. H. Hunter, E. T. Comer, R. M. Hitch and H. D. Stevens,
all of Savannah; John
F. Wallace (Pres. Westinghouse Church Kerr
Co.), and T. P. Goodbody of New York.
Mr. Brinson received, it is stated, between $40 and $50 a share for his
holdings.—V. 97. p. 236; 174.
chise to the company.
The company has been operating under a temporary permit issued by
the Bridge Department.
An arrangement has been made for transfers to
and from the line with all the four large street-car companies controlling
the] road.—V. 96, p„ 284.
-
.
..
Brooklyn Rapid Transit.—Centre Street Loop.—The com¬
pany on July 31 notified the P. S. Commission that probably
two tracks in the Centre St. loop will be ready on Monday
for operation by the New York Municipal Ry. Corp.
The loop, which extends from the new Municipal
Building to the Wil¬
liamsburg and Manhattan bridges, will be operated by the B. R. T. Co.
For the present it will serve only as an entrance into Manhattan of the
company s
elevated trains
now
stopping at the Williamsburgh Bridge ap-'
Later on the company will send some of the trains which now run
the Brooklyn Bridge across the Williamsburg Bridge to the Municipal
proach.
over
ultimately with the Fourth Ave.
(Brooklyn) subway and with the company's Broadway line in Manhattan.
the Man¬
Building.
The loop will be connected
The connection with the Brooklyn subway line will be by way of
hattan Bridge.
Trains will begin running some time in 1914.
The con¬
nection with the Broadway subway will be through a spur to be constructed
Street, giving a through line from South Brooklyn to the
Manhattan theatre district by way of the Manhattan Bridge.—V.97,p.l75.
under Canal
Buffalo
& Lake Erie
Traction Co.—Plan.—The P. S.
Commission yesterday were to hear the application of the
committee representing 80% of the $7,066,000 First and Re¬
funding M. 5% 30-year gold bonds for approval of a proposed
plan for the reorganization of the company and the acquisi¬
tion of over 80% of the $4,000,000 capital stock of the
Buffalo Lockport & Rochester Ry., also the capital stock of
an electric company to be organized to acquire the contract
with the Electrical Development Co., Ltd., for the delivery
of electrical energy at the international_boundary.
The plan
provides in substance: "
,
A new company shall be organized to take over the property after fore¬
closure under the First & Ref. M., and shall issue in payment therefor
Council of
Statement by Win. J. Shanks Sec. Chicago Harbor & Subway Comm.
Ordinances.—No. 1 provides for the construction of a limited system of
section, to be built by the municipality
from Chicago's surface street railways,
railway companies as .a downtown clearing
house for elevated road traffic, being a substitute for the present overhead
passenger subways in the downtown
out of the profits it is now receiving
and to be leased to the elevated
"Union Loop" system.
The contract in this case would be between the
city and the elevated road owners, and the latter would occupy exclusively
a downtown system of city-built subways on a rental basis to be specified
in the contract.
of a comprehensive, city-wide system
and operated independently of existing
lines, the construction capital to be fur¬
nished by a new financial syndicate that will be given exclusive subway
operating rights for 20 years [under lease on such terms that] at the end of
the period the actual subways shall revert to the city free of all liens or
debt, and the operating equipment purchased by the city or a new lessee.
No. 2 provides for the construction
of passenger subways, to be built
elevated or surface transportation
Inadequacy of Present Facilities.—Although during the last six years more
in modernizing Chicago's surface street¬
systems, overcrowding conditions are as bad as ever, owing to the rapid
notmal growth of traffic.
They are worse than ever, in the aggregate,
because the elevated roads have utterly failed to keep pace with this
normal growth of traffic.
Thus, in the morning and evening rush hours,
the two
systems combined—elevated
and surface—have a maximum
carrying capacity in the downtown or "loop" district of 85,000 seats per
hour.
The number of passengers seeking transportation in this district
during the rush hours approximates 160,000 per hour, and is growing.
Thd pfe-feent demand is about double the capacity.
Even if Chicago's elevated and surface lines were developed to their
extreme maximum carrying capacity, without subways, the average com¬
bined increase in capacity could not be increased to exceed 120,000 seats
per rush hour,
still leaving 40,000 seatless passengers now, and many
more as traffic increases.
This would be the limit even if both systems
were through-routed and modernized.
than $80,000,000 has been spent
car
Would Finance Plan No. 1.—In Chicago's case it was early agreed
all future passenger subways must bp municipally owned.
Thus, if
City
that
the voters of Chicago
decide to build a limited system of downtown subways,
construction capital will come from what is
for lease to elevated roads, the
the city's "traction fund," which is derived from a 55% share of
surface road net profits.
This fund is only six years old, but now contains
known
over
as
$10,000,000.
With its future accretions supplemented possibly by a
temporary bond issue, the city can easily finance the downtown subway
system, estimated to cost about $17,000,000.
298
THE
CHRONICLE
[Vtfii. Xcvu.
Private
Capital Necessary for Plan No. 2.—The financial problem is differ¬
ent with the alternately
proposed comprehensive city-wide system of
pafi&ehgei4 subways.
The original plans submitted by the Harbor and Sub¬
way Commission of Chicago Cot this
comprehensive subway system contem¬
plated an outlay", including equipment, of
"*
aj
Without equipment, which would oe furnished
the actual subway construction would cost
sligL
foreclosure sale of 1,014 shares of pref.
__
As
the city is barred by constitutional limitations on its debt-creating
powers from building the larger subway system as a distinctively municipal
undertaking, it is now proposed-to invite private capital to enter the field,
as
the city s financial agent, in
providing construction capital on such
terms as will give the syndicate a
lease for a term of years.
fair profit by means of a subway operating
Twenty-Year Lease.—Again, the city is barred by statute from making
a
transportation lease
or
franchise for
period longer than 20 years.
Thus,
the financial
problem resolves itself into an agreement by private capital to
build as much of the outlined
comprehensive city-wide system of passenger
subways, and accept an operating lease therein, as will enable it to amortize
the entire capital debt, out of operating
profits, by the end of the 20-year
period, the subway system to be turned over to the city free of debt at the
end of that period.
;
Followed by City Operation or New Lease.—Such a contract will necessarily
Involve also the purchase by the city, or a new lessee, of such operating
a
.
equipment
as may be in existence at the end of the 20-year period, the in¬
tention being, of course, to insure the uninterrupted operation of subways.
The city reserves the right, in the contract, to determine at the end of 20
years whether its municipally-owned subways shall be operated by the city
itself, by the owners of the existing equipment, or by an entirely new lessee.
Neio System—Estimated Capacity .—It follows that,
owing to this 20-year
limitation, the original plans of the Harbor and Subway Commission will be
modified to the extent of
permitting the elimination
or certain supplement¬
absolutely essential
subway system a paying proposi¬
form the necessary construction capital may not
The minimum of subway routes is outlined in the
ary rOUtes for the present, and building those that are
to make an independent, comprehensive
tion.
In
this modified
exceed
$70,000,000.
Mayor's second ordinance.
'
The estimated capacity of this initial
"comprehensive" subway system is
180,000 seats per hour in the downtown district.
To this would be added,
of course, the present seating capacity of
existing traction systems, or 85,000
seats per hour, making a total capacity in the
"loop" district of 265,000
This would be in excees of present requirements, but, from
carefully tabulated figures on the ndrmal growth of traffic, it would not be
in excess very long.
There have been issued in pamphlet form: (1) Mayor Harrison's message
to Chicago's City Council on subway
matters, dated June 30 1913, including
drafts of the aforesaid tentative subway ordinances
[subject to amendment
by City Council].
(2) Joint report on "Comprehensive System of Passen¬
ger Subways," by the Harbor and Subway Commission and sub-committee
of
the Council's Local Transportation Committee, dated Sept. 10 1912.
(3) Supplemental report on "Comprehensive System of Passenger Subways"
by the Harbor and Subway Commission, dated Oct. 30 1912.
Satisfactory negotiations with prospective bidders are necessary before
said ordinances are submitted to a referendum vote next
spring.
seats per hour-
Chicago Burlington & Quincy RR.—Bonds Called.—
Ninety-three bonds of $1,000 each and 20 of $100 each, issued under the
Denver extension mtge. dated Dec. 1 1881, for
payment on Aug. J at par
England Trust Co., Boston.—V. 96, p. 1772.
at the New
Chicago Milwaukee & St. Paul Ry.—Bonds Ready.—
given that the definitive 4l/2% General M.gold
bonds of the $30,000,000 issue recently sold are now
ready for
delivery in exchange for the outstanding temporary certi¬
ficates representing the same, upon presentation and surren¬
Notice is
der of
Trust
said certificates
the office of
at
Co., New York.
the
were
United States
v
.
Earnings.—The following figures
published yesterday:
Preliminary Results for June 1913 and Fiscal Year ending June 30.
■_
June.
Year.
$
$
Oper. revenues.7,739,659 95,268,692 Total net
Oper. expenses.5,370,358 63,678,797 Taxes..
Net oper. rev2,369,301
Net outside op.
Total
48,137
net...2,417,438
June.
Year.
$
$
2,417,438 31,765,591
334,076
3,887,289
31,589,895
Oper. income2,083,362 27,878,302
175,696 Est. int. chges. 1,088,197 11,513,647
31,765,591
Bal.fordivs.
Preferred stock dividends
*
Common dividends (5%)
995,165 16,364,655
8,115,233
.....
5,797,300
....
Surplus for 12 months.......
-V. 97. p.
Detroit Toledo & Ironton Ry .—Sale
Adjourned.—The
stock of the Ann Arbor
nnn
"
'
Springs, Colo., to Craig, 46 miles, is to begin next week and
15.—V. 96, p. 1628.
is expected to be
completed by Sept.
2,452,122
175.
RR., which were deposited under' the consolidated mtge. of
1905, originally set at Detroit on June 28, has been adjourned
to Aug. 28.—V. 97,
p. 49.
Dixon (111.) Rock Falls & Southwestern
(Electric) Ry.
—Foreclosure.—The Illinois State Trust Co. of East St.
Louis,
as
mortgage trustee, filed a bill at the June term of the Cir¬
cuit Court of Henry County to foreclose the
under which, it is stated,
Chicago Terre Haute & Southeastern Ry.—1M% In¬
on Incomes.—The
$6,500,000 income mtge. 50-year gold
bonds, the interest on which has been cumulative at the rate
of 5% since Dec. 1 1912, will, it is announced
by advertise¬
ment on another page, receive on Sept. 1
llA% interest, or
$12 50 on each $1,000 bond, and no more, oh account of
coupon No. 9 dated Sept. 1 1913.
Payment will be made at First Nat. Bank, N. Y. City, or First Trust &
Sav. Bank, Chicago.
The interest was non-cumulative at the rate of
4%
for the period represented by coupons No. 1 to No. 8 inch
Previous semi-(
annual) payments, 1% each Sept. 1 1911 and Mar. 1 and Sept. 1 1912 and
Mar. 1 1913.—V. 96. p. 419.
"
.
Connecticut Valley St. Ry.,
Greenfield, Mass.—Div.
quarterly dividend of % of 1% has been declared on the
$500,000 common stock, payable Aug. 1 to holders of record
July 19, comparing with 1% on May 1, y2 of 1% Feb. 1
1913 and Aug. 1 1912, and 1% on Feb. 1 1912—the first
—A
payment.—V. 96,
Denver
1296.
p.
City Tramway Co.—Offer to Exchange Bonds.—
The company, as of June 25 1913, offers to holders of the
$6,000,000 First and Collateral Mortgage 30-year 5% gold
bonds of the Denver & Northwestern Ry.
Co., the following
for each $1,000 bond with all unmatured
coupons attached
(see advertisement of the bankers on another page):
First
and refunding sinking fund M. 25-year
5% gold bonds of
Denver City Tramway Co., dated Nov- 1 1908, due Nov.
1 1933
[see V. 92, p. 186; amount heretofore issued, $5,399,000]..,
$1,000
Non-ihterest-bearing bond scrip (exchangeable for bonds of same
issue.in amounts of $500 or multiple thereof)..
50
Holders" may at once present such bonds to Bankers Trust
Co., N. Y.
City, or deposit them with Clark, Dodge & Co., 51 Wall St., N. Y.
City
(until Aug. 25): E. W. Clark & Co., 321 Chestnut St., Phila.;
Providence
Banking Co., Providence; or Boettcher, Porter & Co., Denver.
Deposit
and exchange will be made without expense to the holders of
Denver &
Northwestern Ry. Co. 5% bonds.
See adv.—V. 96, p. 1628.
-j
>
.
Denver & Northwestern
See DenVa*
Denver
Ry.—Offer for Bonds.-—
City Tramway above.—V. 97,
&
Salt
p.
236.
may at their
option file their bonds and receive in cash their share of the
proceeds of
About $15,000 cash was, it is stated, subscribed
by land owners
winter to buy the Tampico
terminal, lay tracks and put the line In shape.
Additional subscriptions will have to be made to
purchase rightof-way and equipment.—V. 77, p.2389.
"•
v
last
Fort
dend
Smith (Ark.) Light & Traction
Co.—Pref. Divi¬
Declared.—The directors have not declared the
Not
July dividend
RR.—Agreement—Extension.-^
Pres. Newman Erb- announced on July 28 that
(subject to
the adjustment of legal details by the
attorneys for the com¬
pany and the< city) an agreement had been reached between
him arid the Moffat ttfrbiel commission
construction^
tract for
The
laying
of
rails
on
regkrdnig' the con¬
the extension
on
the $1,410,000 7% cum. pref. stock.
IM%
IH%
quar.
Steamboat
April 1913.
(7% per annum)..
Rescinded.—The city authorities, we learn, some time since
rescinded the ordinance passed by the
City Council on Dec. 16,
which fixed the price of natural
gas, beginning Jan. 1 1913,
at 25 cents per 1,000
ft., with a minimum charge of 50c. per
month when the amount of gas fails to reach that
sum.
The" "Water and Gas Review"* for
July 1913 contains at length the
opinion of District Judge Youmans (Western District), rendered Dec
.311912,
granting a temporary injunction restraining the enforcement of the
ordin¬
ance".
The Court held that the Council failed to make the
Investigation
a just conslusion as
required by the laws of the State in order
to arrive at
to the reasonableness of the new
rate.—V. 95, p. 47.
Geneva Seneca Falls & Auburn RR.—Authorized.—The
P. S. Commission has authorized the
company to
acquire the
property, rights and franchises of the Geneva & Auburn RR.
a mortgage on the
property to the Metro¬
politan Trust Co. of New York and to sell at not less than 85
and interest $524,000
5% bonds maturing July 1 1943.—
and to execute
V. 96, p. 1629.
Grand Trunk Ry. of Canada.—5% Secured, Notes.—Tbe
5-year 6% secured notes dated Oct. 1
1913, due Oct. 1 1918, offered by adv. in London on July 19
issue of £1,500,000
at
£98% through Glyn, Mills, Currie & Co., are secured by
deposit with tbe Union of London & Smith's Bank, Ltd., as
trustee, of £2,000,000 Grand Trunk perpetual 4% Consoli¬
dated Debenture stock, of which
£22,222,442 is listed on the
London Stock Exchange.
The adv. shows:
t
Interest A. & O.
Par £200 and £100
(c*).
Company reserves the right
whole or in amounts of not less than
£200,000 by drawings on any interest date upon 60 days'
notice, and in the
event of any notes being redeemed before the date of
maturity, the trustee
will release a proportionate
part of the collateral.
The proceeds will be applied in
part payment for additional rolling stock
(75 engines and 8,000 freight cars), the contract price for which exceeds
£2,000,000.
This new equipnlent has become
necessary, owing to the ap¬
proaching completion of the Grand Trunk Pacific Ry. and the very large
increase in the traffic of the
system/including the Grand Trunk Western,
Detroit Grand Haven & Milwaukee and Canada &
Atlantic railways, but
not including the Grand Trunk Pacific
By., as shown in the following:
Cross Receipts of Grand Trunk
Ry. since 1902.
•
•
to redeem the notes at 101 either
as a
.
"1903.
1905.
1907.
1908.
1910.
1911.
1912.
£
£
£
£
£
£
7,308,500 7.415,700 9,224,400 8,106,200 9,112,000 9,958,600
10,866,800
The first half of 1913 shows an increase of
£674,000 over the record fig¬
of 1912.
The net revenue for the year 1912, after
providing for the
interest on the debenture stock, amounted to
£965,000, and there is every
probability that for the year 1913 it will exceed the sum of £1,000,000.
[The issue, it is stated, was oversubscribed.]—V. 97, p. 175.
ures
Guayaquil & Quito Ry.—Prior Lien 6s for Sinking Fund.
The ninth amortization of the 6% Prior Lien M.
gold bonds took place
July 15 at Glyn, Mills, Currie & Co., the amount to be applied
being
£8,359 4s. 6d.
Tenders amounted to $157,000, ranging from £85 4s. 9d.
to £95%; those at £87 and under were accepted in full and at
£87 3s. 9d.
for about 90'%.The Banco Commercial y Agricola of Guayaquil on
July l7
remitted £6,000 for service of above bonds.—V. 96,
p. 1422, 62.
»
'
Gulf Beaumont & Kansas City RR.—Bonds Paid.—The
$591,000 1st M. 6% bonds, $115,500 6s and $97,500 5s,
due Aug. 1, are being paid at the office of the Atchison Topeka & Santa Fe, 5 Nassau St.—V. 77, p. 1225;
Hocking Valley Ry.--^Equipment 5s —Kissel, Kinnicutt
Co., N. Y., and Elkins, Morris & Co., Phila., offered
Tuesday, at prices to yield 5 %%, the new $1,000,000 Equip.
Trust 5% Certificates, to be dated Aug. 1 1913 and due in
10
equal annual installments from Aug. 1 1914 to Aug. 1 1923 r
incl., but callable at par and int. on any int. date.; Int. F.&A.
&
Secured on new standard equipment (1,000 steel coal cars and
eight
locomotives), costing $1,250,000, of which amount $250,000, or
20% of
paid in cash.
Trustee, Commercial Trust Co., Phila.
Average net earnings of company for 5 years ended June 30
1912, $3,247,659, fixed charges $1,436,859 per annum, thus showing an
average
surplus of $1,810,800, or oyer twice all annual fixed charges.
Has oubthe cost, is being
Hudson
&
Manhattan
RR.—Coupon Payment— In
ac¬
cordance with
the plan of readjustment
recently consum¬
mated (V. 96, p. 208), the company
began on July 30 to pay
coupons
due Feb. 1 1913
on
its Ay2% bonds, with interest
thereon to July 31 1913, upon presentation at
& Sons, 62 Cedar St., N. Y. City.
See V.
HgDepositors of the old 4k % bonds
Harvey Fisk
175, 117.
p.
can receive $12 50 on each $1,000 1st
which is equivalent to six mouths' in-*
M. 4k% deposited under the plan,
tereet from Feb. 1 on the $500 new first lien
5% bonds offered in exchange
therefor (with $500 new adjust, incomes), from
Guaranty Tr Co., NTy.,
Am. Trust Co. of Boston, St, Louis Union Trust
Co., St. Louis, or Robert
Fleming & Co., London (on presentation of certificates of
deposit),, in lieu
of delivery
Idaho
from
'
Dividend Record of Preferred Stock.
July 1910.
Oct. 1910 to
Apr. 1910.
1M%
97,
Lake
issued.
were
the sale.
£
terest
mortgage,
$165,000 bonds
It Is proposed to reorganize the
company by permitting the holders of
the bonds of the present
company to exchange their bonds for a Hke num¬
ber of shares of stock in the new
Company, but bondholders
of coupons due August.—V. 97, p. 175, 117.
Railway, Light & Power Co —Traction
—Sed.-Treas. Gv E. Hendee submits the
Earnings,
following:
Ai'G. 2
<
*
^
'
"
,
Gross
•
Traction Co. for June and the Half-Year ending June 30,
Earnings of Idaho
1913—6 Afos—1912
1913-Jun*-1912.
operating revenues$34,772
Net. after taxes
(estimated)——$11,618
849
$36,426
$12,953
877
$199,471
$57,290
3,164
$189,313
$42,120
3,096
-$12,467
$13,830
$60,454
$45,216
Non-operating revenue
Total income—
—Y. 96, P.
1629. 1089..
"Illinois Central RR.—Dividend 2H%> Making 6% for
Year.—The directors
Wednesday declared
on
a
semi-annual
dividend of 234%, payable Sept, 1 to holders of the $109,-
record Aug. 11, covering the half year end¬
This dividend is a reduction of 1% compared
296,000 stock, of
ing June 30.
preceding 25 distributions and it makes 6% paid
New Orleans Texas & Mexico RR.—The receivers have
left for Louisiana and Texas after arranging a temporary
loan of $100,(XX) with the Columbia-Knickerbocker Trust Co.
to meet debts maturing Aug. 1.
Abdut $200,000 additional
will, it is stated, be necessary up to the middle of September.
The road will shortly need more money to carry on develop-*
ment,
it is
Dividend Record Since
1886
(Per Cent.).
•a7. *88. '89. '90. '91-'99. '00. '01 to Sept. '04. *05 to Mar. '13.
1913.
7
7
5H
6
Sy'ly. 5H
6 yearly.
7 yearly.
Sept.,2&
Official Statement Issued
on
Wednesday.
The directors have concluded that, under the unusual conditions of the
only those affecting general business, but those bearing
specially hard on this company, it is wise to declare at this time a dividend
of 2H % upon the capital stock, making 6% paid for the year.
This has
been folly earned, notwithstanding the severe loss of traffic and increase
in expenses due to the January and April floods.
Net earnings for May and
June were very satisfactory and estimates for the first three weeks or July
show substantial increases.
Operating expenses are now reflecting im¬
proved conditions due to increased efficiency of the new shop organization,
and crop conditions throughout the territory served by the company's lines
promise continued increase in business.
[The partly estimated results for the year ending June 30 1913 are re¬
ported unofficially as showing net for dividends of $6,575,067, being
equal to 6.0151% on the outstanding capital stock, as compared with
$3,466,447, or 3.17%, in 1911-12, an increase of 2.845%, or $3,108,620.
Of the outstanding stock, the Union Pacific owns $22,500,000 through
direct control and $9,200,000 more through its ownership of the Railroad
Securities Co.
The reduction of 1% in the semi-annual dividend amounts
to $317,000.]
^
last two years, not
.
No Borrowing.—Pros-. C. A. Markham on
Wednesday said:
We are not borrowing money, nor do I think it will be necessary for us
to do so.
We are not doing any very extensive improvement work.
[This
of
apropos
rumor
a
that the
co.
was
borrowing $750,000 at 6>5%.1
Equipment Trust Certificates Sold.—-Lee, Higginson & Co.
Kissel, Kinnicutt & Co. this week offered and re-sold
prices to net 534% $3,500,000 5% gold equipment trust
Dated Aug. 1 1913 and maturing in 20 semi¬
certificates.
annual installments from Feb. 1 1914 to Aug. 1 1923, in¬
clusive.
Interest Feb. 1 and Aug. 1.
Issued under Phila.
plan.
Guaranteed by the railroad company as to principal
and interest by endorsement by the trustee, the Union
Trust Co., Pittsburgh, Pa.
The certificates having been
re-sold, the advertisement is inserted as a matter of record
and
at
another page.
on
The total cost of the (new standard) equipment covered
by the certificates amounts to approximately $4,375,000, of
which amount 20% is being paid by the company in eash.
—V. 97, p. 237.
Independence Neodesha & Topeka (Electric) Ry.—
Authorized.—The Kansas P. U. Commission on July 21
authorized the. company to issue $298,600 bonds to purchase
right-of-way for the proposed road, Independence to Topeka.
The proposed line will extend from Independence to Neodesha, then to
Altoona and Fredonia and through Woodson County to Yates Center,
then north to Topeka. a total of about 130 miles.
Lakeside
Marblehead
&
.
R.-r-Stock
R.
Increase.—The
but no application for receivers' certificates, will,
reported, be made until the protective committee
learns whether the St. Louis & San
Francisco (see V. 97,
2381) will pay the $700,000 interest maturing Sept. 1
on its New Orleans Texas & Mexico Division bonds.
p.
with the
for the fiscal year 1912-13.
was
399
CHRONICLE
THE
1913.]
v
Receivership of Controlled Lines.—After conference
176).'
p.
Bay Point and Sandusky.
V. 97,
Loramie & Minster (O.)
p.
49.
Electric RR.—Receivership.—
Julius
Boesel, President of the First National Bank of Minister, Q., and
W. J. Sheridan, Pres. of the Loramie Banking Co., were on June 24 ap¬
pointed receivers.
The road, which was built in 1910, extends from Minster
to Berlin.
The liabilities are placed at $50,000.
The suit was filed by
the Minister bank
on a
note.
Milwaukee (Wis.) Electric Ry. & Light Co.—Status.—
See North
—V. 96.
p.
Am.
1629.
Co.
under
.
"Reports" above and in V. 96, p. 944.—»
,
Morris
(Electric) RR., Morristown, N. J.—Details of
Bonds.—The mortgage to the Safe Deposit & Trust Co. of
Pittsburgh, as trustee, is made to secure an issue of $137,500
35-year 5% bonds dated July 25 1913, but redeemable at
par
after
one year.
Interest payable Jan. 25 and July 25 at Safe Deposit & Trust CO.
Par
bonds, $1,000.
Sinking'fund sufficient to retire bonds at maturity.
Stock authorized, all of one class, $250,000; present issue, $137,500; par,
$100.
Pres.. Q. G. Schultz; Sec. and Treas., Carl von Vogt.—V.97,p.237.
;!
■
■
-
„
'
Houston as sole receiver of the Sbufch
Mr. O'Keefe continues as sole receiver for the New
Orleans, Texas A Mexico in Louisiana and will maintain his headquarters in
New Orleans.—V. 97, p. 176, 117.
This leaves Frank Andrews of
Texas 'Frisco lines.
Ohio ElOctriC Ry.-—Stock and Bonds.—The consummation
of the financial plan has given the company
share capital and new bond issue:
Common stock authorized, $8,000,000 in $100
the following
shares; issued._.$8,000,000
Pref, stock, 5% non-cum., with same voting rights as common
shares.
Callable on any div. date at 105 on 30 days' notice.
Authorized, $6,000,000 in $100 shares.
Outstanding—
3,000,000
Second and General Mortgage 5% gold bonds.
Hate June 2 1913
and due June 11943, but callable as below stated.
Int. J. & D.
Trust Oo., Phila., trustee.
Par $100, $500 and
Total £uth.. $5,000,000.
Outstanding July 24 1913
at Fidelity
$1,000.
601,700
The bonds are to be delivered for Improvements when and as approved
by the P. S. Commission of Ohio or otner governmental authority,
The
mortgage covers all property and leasehold estate subject to underlying
liens.
(See p. 42 of "El. Ry. Section.")
The entire bond Issue Is subject to call on any interest date for payment
In cash or for substitution of First & Ref. Mortgage bonds dated Jan. 11910,
exchanged at par after 8 weeks' notice.—V. 96, p. 1840, 1557.
Philadelphia Rapid Transit Co .—Suggested Han for
City-Owned Subway arid Elevated Lines and Lease of Same to
Philadelphia Rapid Transit.—A. Merritt Taylor, Director
of the Department of City Transit, issued July 30 a report
containing the results of his investigations into the street
railway system, and giving recommendations for improved
transit facilities, construction of which, he says, should be
begun at once, these including:
Cost to Be Met—
By City.
North Broad St. Subway to Pike St,
4 tracks
—$15,256,000
16th St..El. branch to Olney av., 2 tr'ks 2,159,000
Northeast Boul. El. branch to Rising
Sun Ave., 2 tracks-..
1,595,000
;
Delivery Loop Subway in Arch, 8th,
Walnut and 15th Sts., 2 tracks
10,592,000
South Broad St. Subway to Bigler St.
and depressed tracks, Bigler St. to
Government Ave., 2 tracks
5,080,000
510,000; Equipment for above—
...
Frankford
Elevated
structure, $6,-
510,000; equipment, $2,402,000—
Darby Elevated structure,$4,390,000;
equipment, $2,201,000
■
."
Total.
By Lessee.
$15,256,000
2,159,000
—
com'y on July 29 applied to the Ohio P. S. Commission for
authority to issue $350,000 additional stock.
;
between
July
Court at Houston, John D. O'Keefe of New Orleans tendered
his resignation as receiver of the Beaumont Sour Lake &
Western
and
the
Orange &
Northwestern.—(V. 97,
-
Of the stock $25,000 is to be used to reimburse the treasury for extensions
etc., and $325,000 for improvements.
A car ferry is to be established
on
25 between Judgd Foster of the U. S. District Court for the
Eastern District of Louisiana and Judge Burns of the Federal
—
—
—1,595,000
10.592,000
—-
-1
5,080,000
$7,393,000
7,393,000
8,912,000
8.912,000
6,591,000
6,591,000
—
■
Est. gross expend. Involved—>_-_$34,682,000 $22,896,000 $57,578,000
Mr. Taylor recommends that the
Department of City Transit proceed
forthwith to enter into tentative negotiations with the Rapid Transit Co.,
with a view to determining for the consideration of Councils upon what
basis the company will agree to build, equip and operate the elevated lines
to Frankford and
Darby and also equip and operate the Broad St. Subway
He further recommends: "That the construction of the Broad St.
Subway be financed by the sale of city bonds; the issuance of which is made
possible by the increased borrowing capacity resulting from the passage
of the personal property tax bill approved June 17."
Whatever the terms agreed upon, provision will
be made for the
ultimate acquisition of the entire property by the city.
Mr. Taylor believes
that the needed elevated lines can be built and put in Operation on or before
July 1 1917, and the proposed subway system one year later.
A Chestnut St. subway may also have to be built by the city to 1926-27
at a cost of $5,922,000, and Roxborough may also require service.
See
further particulars in "Philadelphia Press of July 314—V. 97» p. 238,234.
lines.
Porto
Rico
Railways.-—Aeu» Stock.'—Shareholders of
offered the right to subscribe at par at
Royalty Securities Corp. on or before Aug. 23 for $500,006
7% cumulative preference shares, one new share for each
seven shares (common and preference combined) now held.
the
company
are
or
New England Investment & Security Co .-^Purchase, of
Control of Common Stock—Arbitration.—The firm of Sander¬
& JPorter, engineers, of this city, has purchased from va¬
a
controlling interest in the common stock of
which $100,000 is outstanding.
The proceeds will be used to meet expenditure on capital account to 1913.
chiefly for completion of lighting linesv Subscriptions are payable 25% at
25% Sept. 1, Oct. 1 and Nor. 1.
There are now out: Common
stock, $3,000,000; pref.., stock,. $500,000; 1st M. bonds, $2,842,500.—
V. 96. p. 1022.
once and
Republic
son
rious holders
The company owns control of the Springfield,Worcester, and other trolley
few York New
Sroperties
m Western
Haven &
Massachusetts
the
Hartford RR.which
The have
latter been operated
by by
merger
as successor
of the Consolidated Ry. guarantees the
$4,000,000 4% pref. stock.
The
common stock has the right to elect 4 and the
pref. 3 of the 7 trustees.
The
principal subsidiaries, which
miles of electric
operate approximately 394 of the
railway controlled by the
TVame of Company—
YConsolidated st
Springfield Street Ry
company, are as
418
follows:
Mileage.
Name of Company—
Mileage.
Ry_.208 Milford Attleboro & Woonsocket. 28
136 Interstate Consolidated Ry
22
..
The employees of the Springfield and Worcester trolley lines on
Monday
consented to arbitrate the differences
arising, it is. stated, out of the
of the companies to put into effect the 9-in-l 1-hour
law.
It
was
failure
held that
there is an agreement with, the Amalgamated. Association of Street & Elec.
trie Railway Employees of America
requiring the arbitration.—V. 94,p. 1627
New Orleans
Railway & Light Co.—Earnings.—Bertrom, Griseom & Co. havo favored us with the foUowing
statement for the six months ending June 30?
»
Railway &
Light Co. (of N. J.),—Semi-Annual
Statement.—-V.-Pres. Wm. M. Qoleman, New York, July 29,
wrote in substance (see map, &e. j "Electric Railway" Section)?
The accompanying statement of earnings of subsidiary companies,
officially reported to the Republic Railway & Light Co, for the first
half of 1912, shows an increase in gross of 13.77%, to net of 12.14% and
in balance surplus (after interest) of 23.78%.
New Business.—As a result of the activity of the new business depart¬
as
ments, the number of meters installed during the 12 months ending June 30
1913 increased over 1,700.
During the first five months of this calendar
the power department closed 81 contracts for electric power, with a
total connected horse-power in motors exceeding 5,500.
A large number of
these, customers are already being served with electric power.
In May the
Carbon limestone Co. signed a contract for the complete electrification
of their large quarries near Hinsville, Fa., requiring a total of 800 h. p.
year
in electric motors.
In February we began to supply power to the Besesmer
Ltoiestone Co., requiring for their huge brick plant
(capacity 1,200,000
brick per week) a total of 750 h. p. In motors awl for their large limestone
quarries 1,200 h. p.; total, 1,950 h. p., of which at present we
1,000 h„ p. lit motors.
are
supplying
.
The new generating station at Ldwellvflte, Ohio, which has been fri oper¬
ation since December of last year, with installed capacity of 25,000 h. p.,
has been
operating most satisfactorily and producing power at a low cost.
„
Six
.
Orossr ■*
Net {after
MoSi.
Interest on—
Balance*
Old Bds, Gen.4H&.. Ret. 5*Deb.Note-Surpituts
Earnings-.. Taxes; Ac)
1913-_$3,467,580 $1,255,572 $296,707 $394,740 $89,525- $6,174 $468,426
19*2_^3,342.493
—V. 96, p. 1773.
1,319,727
Outstanding CapttaUauion of Republic Railway A Light Co,
—-—i-r.
304,846
394;74»
88^9?
531,436
...
.
'
5% gbM notes April 11912; due Jan. 11916 ftf. 96, p. 1774) -..--$2,600,030
Stock; 6%. pref., $5,191,400; common; $6,206,000.
^11 J97,40O
For the 12 months ended June 30 1913 interest amounting to.
$61,485
cn
above notes was chargeable against income; balance tO cottetratfwOrf.
300
CHRONICLE
THE
Earnings of Subsidiary Cos. as Officially Reported to Republic Ry. & Light Co[Items between sub. cos. and sub. cos. and Rep. Ry. & Light eliminated.]
-Month of J'ne- -6 Mo.end. J'ne 30—12 Mo.end. J'ne 301913.
1912.
1913.
1912.
1912-13.
1911-12.
$
1
$
$
$
$
214,736 1,421,660 1,249,571 2,842,175 2,518.450
85,560
542,676
483.950 1,118,242 1,006,738
Interest charge. 41,992
43,943
271,573
264,939
535,029
531.378
$
Gross earns
248,669
Net (aft. taxes) 96,640
Surplus
54,648
41,617
271.103
583,213
219,011
475,360
See note offering, V. 96. p. 1774, 1703.
St. Louis Rocky Mountain & Pacific Co.—New Control.
See Atchison
Topeka & Santa Fe Ry. above.—V. 97,
Seaboard Air
p.
238.
A direct obligation of the railway, secured by the
following equipment
title to which remains with the trustee
(Eq. Tr. Co., N. Y.) until afl these
bonds are paid off, viz.: 46 locomotives (40 Pacific type, 35 for freight and
5 for passenger service; and 6 switching locomotives); 1,000 freight cars,
including 500 steel upper and under-frame ventilated box cars; 250 steel
hopper coal cars and 250 steel under-frame flat cars; 17 all steel cars for
passenger service, of which 2 express cars, 5 dining cars and 10 passenger
coaches.
Total cost about $2,240,000, leaving a 15% equity.
A prosperous system, operating more than 3,000 miles of main track and
entering almost all the important cities of the South, including Richmond,
Norfolk, Wilmington (N. C.), Savannah, Birmingham, Montgomery, Tal¬
lahassee, Jacksonville and Tampa.
Earnings for 11 Mos. to May 31—
1912-13.
1911-12.
a Increase.
Gross earnings..
..—$22,587,206 $21,198,475
$1,388,731
Net earnings, after oper. exp. & taxes
6,264,812
5,375,306
889,506
Offering subject to approval by Georgia RR. Comm.—V. 97, p. 238.
South
& Logansport Ry.—Receivers' Sale— The
and other assets of the Company were sold to
G. R. Summers of South Bend, Ind.,at sale held by receiver
G. A. Elliott on July 8.
right of
Bend
way
The price was $19,500.
The sale was ordered by the Circuit Court.
It is reported that the proposed road will be built in the near future.
Pacific
Southern
Company.—Right
Make
to
Security
Issues.—The company on July 19 and 20 filed two suits in
the U. S. District Court against the California and Arizona
railroad commissions, respectively, with a view to having
defined the extent of the
commissions to
prescribe the terms and conditions on which a corporation
engaged in inter-State commerce may secure money required
powers
of
for its corporate purposes.
State
1
The suit against the California Commission involves the right to issue
certificates to purchase $6,000,000 of equipment fn addition to that covered
by the $10,200,000 certificates recently authorized.
Arizona Commission
$30,000,000 which
1703, 1774).
p.
The suit against the
the refusal to authorize a 2-year note issue of
consented to by the California Commission (V. 96,
was over
was
Counsel for the company is quoted;
"The bills
are pre-
}>ared
to settle
a question
of jurisdiction
which
attorneys
for
nter-State
roads
in all
where
road has perplexed
attempting
to finance
cases
was
a
its system as a unit
conflicting
V. 97. p.
but found itself confronted by various and sometimes
provisions and orders in the States composing the unit."—
177, 50.
-
»
xcvii.
in width, extending 200 ft. on either sides of its right-of-way,
involved in the original land grant to the company.
The Supreme Court says that while the District Judge correctly stated
the law at the time the decision was rendered in 1909, according to the
rulings of the Federal Supreme Court in similar cases, the Norris Law,
enacted by Congress on June 24 1912, is retroactive in cases where settlers
and others have procured title to the land embraced within the right-of-way
when the land previously had been abandoned or had not been utilized
by the railroad for the legal 7-year period of limitation.
Many valuable lands located within the disputed strip In Colorado,
Wyoming, Kansas and Nebraska are, it is stated, affected by the Norris
Law, and the decision of the Colorado Supreme Court is expected to operate
as a precedent for the settlement of similar cases in other States.
New
Line
Ry.—Equipment Bonds.—Eastman,
Dillon & Co., the Equitable Trust Co. and Kean, Taylor &
Co., all of New York, offered and sold at prices to
net 6% the new issue of $1,900,000 Equipment Trust 5%
gold bonds, to be dated Aug. 15 1913 and maturing in 20
semi-annual installments, Feb. 15 1914 to Aug. 15 1923 incl.
Interest payable Aug. 15 and Feb. 15.
[Vol.
Cut-Off.—The
pletion of the
Gibbon, Neb.
company
cut-off
new
last week announced the
Topeka, Kan.,
between
com¬
and
....
After building the proposed cut-off from Fort Morgan to Denver
(reducing
the distance between Denver and Kansas City and Denver and Chicago
24 miles), the distance between Denver and Chicago will be reduced from
1,060 to 1,014 miles, against 1,018 on the Burlington.—V. 97, p. 177, 50.
United
Light & Railways Co.—Annual Earnings.—
Earnings for. 12 Months ending Dec. 31; (1) Controlled Cos.. (2) United Co.
(1)
"
'
1912-13.
1911-12.
1912-13.
0911-12.-'
Gross earns. .$5,698,929 $5,040,740 Interest, &c._$l ,209,121 $1,111,362
Net earnings. 2,361,274
2,029,744 Net profits... 1,152,153
918,382
(2) Earnings available on stocks owned, $1,049,930; dividends
and interest receiv., $206,014; miscellaneous, $58,680; total__$l,314,624
Less expense, $79,931; interest on bonds and notes, $343,976
423,907
Pro rata divs.: First pref. stock, $355,028; 2d pref. stock, $89,793
444,821
Balance available for depreciation and divs. on common stock..
—V, 97, p.
$445,895
178.
Wabash RR.—Receivers'
Certificates Offered.—The Equita¬
ble Trust Co. of New York is offering by adv. on another
page, at 99.05 and int., yielding 7%, the new issue of $14,000,000 one-year 6% receivers' certificates dated Aug. 1
1913 and due Aug. 1 1914.
Int. F. & A.
By decree of
Court, these receivers' certificates are secured (1) by a lien
upon the entire road prior to the outstanding $40,600,000
First Refunding and Extension Mtge. 4s and $39,200,213 33
pref. and $53,200,213 33 common stock; (2) by a first lien
on locomotives and cars
costing over $2,800,000.
They are
issued under authorization of the U. S. Dist. Court for East¬
ern
Dist. of Mo. to refund the $14,000,000 of 5% receivers'
certificates dated Feb.
1 1912 and maturing Aug. 1 1913,
provide additional equipment, discharge
prior liabilities, and to rehabilitate the system generally. ; The $14,000,000
5% certificates
will be paid at ma¬
turity at the Equitable Trust Co., but said trust company
offers to, holders the privilege of exchanging the same for the
new 6% certificates due Aug. 1
1914, described above.
A
cash payment of $9 50 in respect of each $1,000 $er.tificate
will be made to holders accepting the offer of exchange.—
V. 97, p. 238.- :
Hri:
-■
which
were
issued to
,
Washington Utilities Co.—August Coupons.—...
The August coupons of the 5 % bonds
were
advertised,
sis
payable at
U. S. Mortgage Trust Co., New York.—-V. 97,p. 238
;
.
'
Southern Railway.—Bonds Offered.—Kean,, Taylor &
Co., New York, who recently sold $1,500,000 "First Consoli¬
dated Mortgage" 5% gold bonds of 1894, due July 1 1994,
which they purchased from the Southern Ry. Co. through
J. P. Morgan & Co., have bought from the firm just men¬
tioned $500,000 of the same issue (previously reported as
outstanding) and are offering the same at the market price.
Authorized, $120,000,000; outstanding (including $1,114,800 in the treasury), $61,757f800; closed mortgage except"
for refunding.
A circular shows:
INDUSTRIAL,
.
,
Miles of Road
Securing]ftHtet Consolidated Mortgage
First Lien—(1,668.52)
5s.
Subject to Underlying Bonds—
.1,027.77J,Lines owned in fee
_.z2,435.50
640,75[Controlled roads.
i.„_
839.47
Lines owned In fee
Pledge of all bonds
Total miles covered, of which
x
The unissued
on
first
consol.
3,463.27
5s
are
are
owned in fee...4,943.49
reserved
to
retire
all
outstanding
2,435H miles of the road owned in fee.
Bonds of this issue and prior lien
securities outstanding on the total
4,943.49 miles about $26,500 per mile.
Issue also covers valuable lease¬
hold and trackage rights on 684 miles of road.
The First Consols are fol¬
lowed by $61,333,000 "Development and Gen. M." bonds, $5,000,000
notes and $180,000,000 stock, having a market value of approximately
$119,000,000.
The $60,000,000 pref. stock is receiving 5% dividends.
Physical and financial condition is better than for a number or years, large
amounts having been lately expended on road and for equipment, and in
reducing outstanding short-term obligations.
The balance (over rentals, &c.) available for Interest charges for the three
years ended June 30 1912 averaged $17,590,795 yearly, being considerably
over double the $8,265,000 required to pay present interest charges on both
the First Consol. M. bonds and other securities which might be considered
to have equal rank therweith.
Although from less mileage, the gross revenue for the 11 months ended
May 31 1913 showed an increase of $4,680,661, or 8%.
Maintenance
charges were $2,538,317, or 15%, greater than last year, and other operat¬
ing expenses increased $1,809,665, so that net operating revenue showed an
increase of only $332,679.
Maintenance charges were 30.0% of gross,
against 28.1% last year (other operating expenses 40:2%, against 40.3%),
indicating the conservative policy pursued as to maintenance.—V. 96, p.286
.
Springfield
(O.)
Ry.—New
Bonds.—The
Ohio
P.
S.
Commission has approved the proposition to issue $1,224,000
of the new bonds ($2,500,000 auth.) and $356,800 6% pref.
stock of an issue of $500,000.
'
•
Of the bonds the company had
proposed to issue $1,700,000, viz., $500,-
000 to refund $500,000 1st M. bonds, $700,000 to liquidate floating debt
$500,000 for extensions, car barns, equipment, &c., the remaining
and
bonds to be reserved for future corporate
purposes.—V. 96,
p.
1298,1703..
Toronto
(Can.) Ry.—Bonds Called.—Twenty-seven 4M%
currency bonds of $1,000 each and 270 sterling bonds of £100,
issued under 1st M. dated Sept. 1 1892, have been drawn for
redemption on Sept. 1.
Payment will be made at the Canadian Bank of Commerce, Toronto.
—V. 97, p. 238.
Union Pacific RR.—Land Grant Decision.—The Colorado
Supreme Court
on
July 7 reversed the decision of Judge
McCall in the District Court of Weld County, which sus¬
tained the title of the company in suits against two propertyowners
of Byers, Colo., to quiet title to a strip of land 400 ft.
:
(of W. Va.), Cleveland.—Dividend
This company, whose bonds were placed by Otis & Co., Cleveland, on
July 1 increased its annual dividend rate from 6% to 8%, beginning July 1.
—V. 89, p. 995.
,
American Light &
Yr. end. Earns.from
June 30,
Sub. Cos.
Traction Co., New York.—Earnings.•
Other
Net
Pref. Div.
Common
Balance.
Profits.
(6%).
Dividend.
Surplus.
1912-13. $3,781,422 $579,131 $4,240,722 $854,172 $1,277,008 $2,109,541
1911-12. 3,567,241 .545,719
3,993,684
854,172
1,157,285
1,982,227
There were also deducted stock dividends on the common stock amount¬
Income.
ing to $1,277,007 in the year ending June 30 1913, against $1,157,285 in
1911-12, leaving a balance of $832,534 in 1912-13, against $824,942 in
1911-12.—V. 96, p. 948.
American Strawboard Co., Akron,
Holders
Ohio.—Exchange.—
United Boxboard &c Paper Co. collateral
exchange the same for the stock of the American
of trust receipts for
trust bonds are notified to
liens
GAS AND MISCELLANEOUS.
Advance Lumber Co.
Strawboard Co., now ready for distribution.
The collateral bonds will be
held by the committee (O. C. Barber, Chairman) pending prosecution of the
deficiency suit recently brought against the Boxboard interests (V. 96, p.
1492),
000,000
The Strawboard stock has been reduced from $6,000,000 and $3,and the shares now to be distributed represent the new issue.
10,000 shares to
See V. 96, p. 1491.
The committee will retain
ciency suit.
care
for expense
in the defi¬
month offered to its stockholders $1,000,000 6% 25year coupon debenture bonds (Y. 96, p. 1300, 1491) at $882,40 per
$1,000
bond (subscriptions payable in quarterly installments), for the purpose of
liquidating the entire debt and to provide ample working capital.
The company last
Digest of Statement by Pres. O. C. Barber, Akron, June 5. "
Quick Assets Aggregating $1,091,854, to Protect Debentures.
$428,000 Account!* receivable
$110,859
Bonds.
1,000 Inventory
242,832
Personal property
6,352
*
25,000 Prepaid insurance,....
Cash...---60,592 Net cash from debentures. _x289,884
Bills receivable
2,335 Less contingent reserve
75,000
x After liquidating bonded and floating debt.
Investment in sub-cos
_
—
— .
----_
estate, mill buildings and equipment will be unencumbered
additional protection to the bonds. Thirteen plants are owned: (a)
The real
and
an
continuously, approximate output 250 tons a day, viz.: ChesMd.; Oircleville, Plqua and Tippecanoe City, O.; Noblesville,
Norwich, Conn.; Wilmington and Quincy, 111.
(6) 5 not operating,
viz.: Lockport, 111.; Barberton, Dayton and Tiffin, O.; Winchester, Va.
No mortgage or lien on the assets can be created without the written con¬
sent of the holders of two-thirds of the debentures, except to erect or acquire
new properties and on the security of such new properties only, and
not '
on the general assets of the company.
Plans to establish the company upon a dividend-paying basis, through the
rehabilitation of certain of its mills and the equipment of a new mill to be
one of the largest and most efficient in operation, have been prepared,
and
will soon be effective.
It is anticipated that these improvements can be
effected without placing a mortgage against such improvements.
The future of the company, however, depends largely upon the Issuance '
of these bonds to the stockholders.
The present floating debt ($600,000),
while not great in view of the assets, must be permanently financed and suf¬
ficient funds supplied to rehabilitate the plants and supply working capital;
otherwise the future of the enterprise substantially -depends upon tne good¬
8 operating
tertown,
Ind.;
will of one man, who may or may not desire to carry the burden.
[On June 12 Pres. Barber explained that when he withdrew from the
company in 1892 it was doing a paying business and had a productive ca- i
pacity of about 400 tons of strawboard a day.
Since his return to office in
July 1912 he has repaired the mills and strengthened their organization,
and, with confidence of final success, has loaned the company personally v
$315,000 and become endorser for it for $175,000.
The country's output of
straw board and box board in 1893, estimated by Mr. Barber as less than
1,000 tons a day, is now, he says, about 4,000 tons daily, while the con¬
sumption is Increasing rapidly, since wood is becoming scarce and advancing
in price.;—V. 96. P. 1491.1300.
' .
.
: .
•
f
.
aug. 2 1918
301
CHRONICLE
THE
.j
50% ($500 on each $1,000 note) in full-paid stock.
Also con¬
holder at any time on or before redemption date into
equal face value of the company's 1st M. 6% sinking fund 20-year gold
bonds, plus 150% in full-paid stock; in other words, a $1,000 bond and
$1,500 stock for each note.
Par value $1,000 or £205 lis.
Trustee,
Central Trust Co., N. Y.
Int. J. & D. in N. Y. and London (22 Old
Broad St.).
Secured by pledge of (a) $6,000,000 of company's 1st M. 6%
sinking fund 20-year gold bonds, issued under mortgage dated Nov. 1 1911
(Mercantile Trust Co. of San Fran., trustee); (6) $9,000,000 of co.'s fullpaid stock.
R. R. Colgate of N. Y. is Vice-Pres.
See V. 96, p. 1493,
1698, 1843.
in cash plus
vertible at option of
Refining Co.—New Officers.—Charles
h. Allen, formerly Treasurer and Second Vice-President, has
been elected President to fill a vacancy existing for some time.
American Sugar
an
Edwin F. Atkins, formerly First Vice-President, becomes Chairman of
the Board,
dent.
succeeding Washington B. Thomas, who is made
a
Vice-Presi¬
George H. Frazier, a director, has also been elected a Vice-President;
Foster, Treasurer, and Arthur B. Wollam, Comptroller.
Edward
W.
Joseph E. Freeman continues as Secretary and J. H. Gannon Jr. as Assistant
Treasurer and Assistant Secretary.—V. 96, p. 787.
Great
American Water Works & Guarantee Co.—All Interest
The stockholders
given port necessarily be accompanied by a reduction at neighboring ports,
whether a minimum below which rates may not be cut should be
established.
The judges also desire to know whether conditions affecting
dock facilities in several ports are such as to interfere with free competition
and request information on a number of other points.—V. 96, p. 656.
Great Shoshone & Twin Falls Water Power Co.—
See American Water Works & Guarantee
<
L.
Due Nov. 1 1917, but red., all or any part, at 102K on any
on
Coke
Co.—Control
Sold.—
& Sons Co., Oliver Bldg., Pittsburgh, Pa., has, it
July 31, purchased a controlling interest in the company,
which owns approximately 2,300 acres of coking coal in the Connellsville
and Klondike regions.
The Hillman Co., it is reported, has become one
of the largest
shippers of coke in this country, having now an annual ship¬
ment of 3,500,000 tons of coke and a large quantity of bituminous coal.
The following officers were elected: President, J. H. Hillman Jr.; Treas¬
urer, A. B. Sheets; Secretary, K. T, Phelps, to succeed W. Y. Humphrey,
Herman Griffin and William Harris, respectively.
Vice-President E. H.
Jennings was re-elected.—V. 97, p. 239.
on
International
The shareholders will
stock of this Massachusetts
stock of
Pref.).—
Aug. 12 on increasing the capital stock by
the issue of $250,000 pref. and $250,000 common stock, making the total
share capital $1,350,000 pref. and $2,250,000 common stock.
Sec. William
T. Crawford July 26 wrote in substance:
The proceeds will be used for
additions and improvements, chiefly an extension to the No. 1 power sta¬
tion of about 9,000 k.w. capacity and a new coal-gas plant in Pawtucket.
The new stock will be offered to common stockholders for subscription at
par, one new share of pref. stock and one new share of common stock for
every eight old shares of common stock.
Compare V. 96, p. 362.
Superior Iron & Chemical Co.—Deposits—Official
70% of the securities, it is stated, has
been deposited under the plan outlined below and further
deposits are being received daily.
Lake
Digest of Statement by Chairman Frank W. Blair, Detroit, May 31 *13.
The period since the company's formation [in 1910] has been one of great
depression in the iron trade, and while there was considerable improvement
during the last half of 1912, there has again been a recession during the last
two months, mainly owing to political disturbances, labor troulles
and
socialistic legislation.
As a result, the company's sales of iron are falling
off, and the moderate profit which for a few months was shown on iron is
likely to disappear. Meanwhile additions to the chemical plants are re¬
quired if the company is to be independent of any profits on iron so far
as its fixed
charges are concerned.
The proposed plan should enable the company to complete the additions
to chemical plant, and effect large economies in bank interest, trade dis¬
counts &c.
Arrangements have been made which will in my opinion insure
the raising of additional money required if this scheme is carried through.
When the company was formed in 1910 plans were drawn for so re-model¬
ing the plants as to greatly increase the output of chemicals.
The amount
set aside for this purpose was found inadequate, and the directors therefore
used the money at their disposal in improving the plants at Newberry,
Manistique and Ashland, and in constructing a saw-mill at Newberry.
Altogether, about $1,500,000 has been expended on these three plants.
Of this about one-half has been speUtf/AtfNewberry, which is now the most
complete and economical charcoal iron^nd chemical plant in America, and is
showing even better results than originally estimated. " A large amount of
reconstruction work has been done,'at.Manistique, and the addition of
retorts and saw-mill would make it as!Complete as Newberry, while its earn¬
ings should be about 50% more than those at Newberry, as it is a much lar¬
ger plant.
At Ashland the old plant was improved, greatly increasing its
production of chemicals; as this plant has always been profitable, it is not
necessary to spend more money on it at present,
i
The earnings of the Yale mine were originally estimated at $75,000 per
year.
These estimates are now being exceeded, and since the ore is of
superior quality and commands a ready market, it is proposed that an addi¬
tional shaft be provided at once, thereby doubling the output and increasing
the profits.
The amount of ore available is known to be much larger than
was originally estimated.
The proposed improvements, which should be carried through at once,
will cost about $700,000, as follows: Retorts at Manistique, $350,000; saw¬
mill at Manistique, $100,000;
new shaft at mine, $250,000.
When this work "has been done, the profits from chemicals, lumber and
ore should be at least
$750,000 per year (or sufficient to meet all Charges
without depending for profits on iron? at all) as follows: Newberry, since
re-modeled, has been snowing profits on chemicals and lumber of about
$200,000 per year; Manistique, with retorts and mill in. operation, should
earn at least $250,000;
Ashland has averaged $150",000 per year; the iron
mine, With its capacity increased to 250,000 tons per year, should earn at
least 75c. per ton net (present profit over $1 pCr ton), say $150,000.
The company is producing over 150,000 tons of [pig] iron per year, upon
which no profit is estimated in the above figures, but it is expected that,
while the profits on iron will be very small in years like the present, the
average over a period of years will equal those in the original prospectus.
For the six months ending Mar. 31 1913 (the last figures available), the
company showed net profits of $341,777, which is more than sufficient to
meet all charges for the same period, but, owing to the cash
position having
been so seriously impaired during the period of reconstruction, the money
required for the coming July coupons will not be available.
When the
changes outlined have been carried out, I have no hesitation in saying that
the future earnings will prove eminently satisfactory to the holders of both
preferred and common stock in the proposed new company.
The shareholders, on July 31, ratified the increase in the authorized
capital to £14,500,000 by creating £3,500,000 additional ordinary shares
(par £1).
About $1,000,000 of the new stock, it is reported, will be issued
next year.
Compare V. 97, p. 178.
,
Consolidated Gas Co. of New York.—Proposed Deben¬
tures.—The company, it is1 stated, is arranging to make an
issue of $25,000,000 debentures.
As a preliminary thereto,
it is understood, applications have been made to the P. S.
,
company's subsidiaries, viz:
(1) By the New York Edison Co. for authority to issue $15,800,000 ad¬
to discharge and refund certain notes for money advanced
by the Consolidated Gas Co. and expended for plant and property.
(2) By the Astoria Light, Heat & Power Co. to issue $5,000,000 50-year
% gold bonds and $9,500,000 additional stock, the proceeds to be used
to refund and
retire demand notes held by the Cohsolidated Gas Co.,
amounting to $14,125,000, and also the existing $375,000 1st M. bonds.
A hearing will take place on both applications on Aug. 12.
The Consolidated Company owns all of the outstanding $50,153,400 stock
and also all of the outstanding securities of the Astoria Company.
The Consolidated Company, it is stated, had no connection in any way
with any company which the late Anthony N. Brady is reported to have had
in process of formation to purchase the Cowdray interests in Mexican oil
fields, the transportation or oil between Mexico and ports of the U. S. and
subsequent sales to gas companies.—V. 97, p. 240, 53.
ditional stock,
Deere & Co.
(Plows, &c.), Moline, Iowa.—Notes Paid.
$1,000,000 5% serial notes due Aug. 1 are paid at
Chase Nat. Bank, N. Y., and First Nat. Bank, Chicago.
—The
Of the original issue of $5,000,000,
leaving
.
Des Moines (la.) Water
See "Des
,
$2,000,000 will have been paid out of
outstanding, maturing serially to Aug. 1
'
'
'
$3,000,000
1916.—V. 96, p. 718.
Moines, Iowa,'" in
our
Co.—Agreement for Purchase
"State & City" Dept.—V. 97,
p.
Gross
Net
,xA®.30--
Receipts.
Earnings.
—
179.
,(E. I.) duPont de Nemours Powder Co.—Earnings
6 Afo.enrf.
—
Other
Bond
Pref.
Bal. for
Income.
Int.
Div.
Common.
1913 —-$13,050,953 $2,312,740 $490,617 $381,960 $401,712 $2,019,685
An advertisement
on
The percentage earned
of
14.72%.
6.10%.
another page shows as
follows:
on the common stock was 6.86%, or at annual rate
The net earnings equal the annual.income on gross investment,
Comparison with the corresponding quarter a year ago has been
omitted, as earnings are not comparable, due to the segregation of a large
part of the company's assets and earnings in transferring a portion of the
property to the Hercules and Atlas Powder companies in accordance with
966 peCi775°f fche
i
SuPreme Court.
Compare V. 96, p. 1301.—V.
Electric Properties Co., New York.—Plan
Operative.—
P*a,n f°r the reduction and readjustment of capital stock dated May 7
1913 has been declared operative.
It is expected that the
the new securities will be made toward the end of
iTor
driving the old
P« 14:2U| lo4o.
.•General Chemical
See ••Annual Reports"
company will be
distribution of
A meeting
Proposed Capitalization of New Company to Be Organized under Mich. Law.
[As Charcoal Iron & Chemical Co. of America, or similar name.]
September.
held Aug. 19.
See V. 96,
Pref. stock (pref. p. & d.), entitled to
on a
preceding page.—V. 96,
p.
!
retire said stock.
1427.
In exchange for the $6,485,000 bonds, 100%
50%
(with
$6,485,000
stock bonus)
„
608,000
407.000
Common
stock, total auth., $10,000,000 (par $100), present$7,500,000
Bonus of 50% to assenting bondholders.
$3,242,500
Present pref. shareholders to surrender their holds
ings and subscribe for an equal amount of new
common at $10 per share
1,625,000
,
Present
common
stockholders
to
holdings and subscribe for 25%
dated June
common
In exchange for $640,000 notes, 95% (no bonus)
To be sold for cash
General Petroleum Co. (of California).—Note Issue.—
The $3,000,000 6% collateral trust convertible notes have all been sold
privately by N.- Y. bankers and are held very closely.
These notes are
1 1913 and due June 1 1915, but are subject to redemption,
all or any part, at company's option at par and int. after 60 days' notice <
Redeemable, all or part, on any div. date at
Total auth., $10,000,000 (par $100); present$7,500,000
105% and div-
General Motors Co
.—Sinking
Fund Payment.—The com¬
pany has anticipated to the extent of $1,000,000 the amount
due on Oct. 1 ($2,000,000) on account of sinking fund on its
first lien 6% sinking fund notes
by paying that amount in
cash to the Central Trust Co. as trustee.—V. 95, p. 1405.
cumulative divs. at rate of
-6% per annum, payable semi-ann.; cumulative sinking fund
eof 2%, of pref. stock outstanding, beginning July 1 1913, to
;
Co.—Earnings—Acquisitions.—
corporation in exchange for the
96, p. 1232, 1705.
the old company per plan V.
Statement.—About
British-American Tobacco, London.—Ratified.—
earnings,
Certificates.—The
The company, it is reported, is doing the largest business in the history
of the International or Mt. Vernon-Woodberry companies, at a saving of
fully $500,000 annually, due to the ample working capital afforded by the
plan.
The mills around Baltimore are said to be working on full time, and
the orders in hand and in sight will keep them employed for some time.—
V. 96, p. 1366.
vote
Commissioners by two of the
Mills,—New
Cotton
Continental Trust Co. of Baltimore Is issuing the common
Blackstone Valley Gas & Electric Co., Pawtucket and
Woonsocket, R. I.-—$500,000 New Stock
int. date at
Prin. and int. (M. & N.) payable at State Street Trust
Co., Boston, trustee.
Par $500 and $1,000.
A direct obligation, subject
only to $762,000 equip, bonds (V. 93, p. 1467).
Earnings year ending Sept. 30 1912:
Gross, $536,738; net, $117,803;
int. on $900,000 bonds, $54,000; bal., sur.. $63,803.
Oh Oct. 1 1912 retired $70,000 bonds and April 1 1913 $68,000, reducing
same to $762,000 and interest charge to $45,720.
Owns 4 steamers and 5
barges, all steel, with A1 classification, in coastwise-carrying trade; aU
chartered at favorable rates, mainly to ship coal from Norfolk to Boston and
other New England ports.
Fleet Insured for an amount covering bonds,
notes and preferred stock.—V. 93, p. 1467.
30 days' notice.
Hillman
announced
A circular shows:
1912.
Nov. 1
London.—Stock Dividend Ratified.
Armstrong Cork Co., Pittsburgh.—New Pref. Stock.—
Bessemer
Co. above.—V. 97, p. 120.
Transportation Co., Boston.—Notes.—Westling, Emmett & Co., Philadelphia, are offering at par and
int. 6% 5-year gold coupon notes, part of $75,000, dated
Harper
The shareholders, it Is stated, will vote Aug. 14 on converting a portion
of the unissued common capital stock into pref. stock.—V. 91, p. 1514,1329.
The J.
eliminated, and, if so, by what means; should cutting rates at a
and
Aug. 1 ratified the proposition to increase the capital
from £1,000,000 to £2,000,000 by distributing among stockholders from re¬
serve £1,000,000 stock as a 100% stock dividend.—V. 96, p. 1841.
was
consideration of the following questions: On
tariffs be arranged; can unfair competition through cutting
The memorandum asks for
what basis may
rates be
Report of West Penn Traction & Water Power Co.—
Anglo-Am. Oil Co.,
Towing Co., Cleveland.—Extension.—
for the operation of the company which were submitted by
of the U. S.
restraint of
trade, in a memorandum filed on July 23 in the Clerk's office of the Dis¬
trict Court at Cleveland, signed by Circuit Judges Warrington,Knappen and
Denison, are stated to be unsatisfactory and to call for further considera¬
tion of points involved.
The company is given to Oct. 1 to submit a new
the company and by the Government, following the decision
Circuit Court of Appeals that the co. was a combination in
Arrangements have been made for the payment of interest due Aug. 1
on the 5% bonds of the United Coal Co.
Coupons on bonds of the Bir¬
mingham Water Works Co., the South Pittsburgh Water Co., the Clinton
Water Works Co., the Kokomo Water Works Co., the Arkansas Water Co.
and the Great Shoshone & Twin Falls Water Power Co. will also be paid
on that date.
This provides for the payment of all interest maturing on
Aug. 1 on securities of subsidiary companies of the American Water Works
& Guarantee Co. and enables the company to maintain its record of over
30 years of not a single day's delay in the payment of interest obligations.
Furthermore, this action can be taken as an evidence of the purpose of
the management of these properties to conserve the value of the securities
of each company, and suggests the
request that holders of securities of the
parent and constituent companies will continue to exercise patience until
further information can be furnished.
On assuming their duties, the re¬
ceivers ordered a full and complete audit of the books of the American
Water Works & Guarantee Co. and its subsidiary companies.
This audit
has not yet been completed. •
See "Annual Reports'* above.—Y. 97, p. 239.
Lakes
The plans
Due by Subsidiaries on Aug. 1 to Be Paid Promptly.—Treasurer
J. B. Van Wagner on July 29 announced:
-
surrender
of
new
at$10 per share
For general purposes of the company.:
their
common
-
2,093,700
538,750
303
CHRONICLE
THE
No mortgage or Hen, without the consent of the holders of
75% of the pref.
stock outstanding, except to secure
purchase-money for the properties pur¬
chased/which shall be limited to the
properties so purchased, or by pledge
of merchandise, or other quick assets as collateral
security for moneys
borrowed in the regular course of business.
Pref. stockholders are entitled,
under Michigan law, to a full vote on ail
questions.
The cash received would aggregate $738,175, as follows: Sale of $407,000
new
pref. stock, $366,300;
assessment on old
ment on old common stock,
should
be earmarked for
$209,375.
(a)
pref. stock, $162,500; assess¬
It is suggested that $700,000 thereof
construction
of
a
new shaft at ore mines,
$250,000; (6) retorts at Manistique, $350,000; (c) saw-mill at Manistique,
$100,000.
tCompare V. 91, p. 1774; V. 92. p. 885; V. 93, p. 874, 1108.1
Holders are invited to deposit their securities with the Canadian Bank of
Commerce, Toronto and London, and the Security Trust Co., Detroit.
There are now outstanding $6,485,000 1st M. 6s, $640,000 6% gold notes,
$1,625,000 pref. stock ana $8,375,000 com.- stock.
[Hobarfc B. Hoyt re¬
cently succeeded W. G. Sharp on the board.)—V. 97. P- 120.
Leetonia
'•
(O.)
Steel Co.—Receivership.—
W. H. Hepburn of Lisbon, O.,
was on
July 8 appointed receiver.
The
company was incorporated early in 1913 with $2,000,000 auth. cap. stock
and in March made a mortgage to the Commonwealth Trust Co. of Pitts¬
burgh, as trustee, to secure an issue of $1,000,000 6% 20-year bonds due
March 1 1933.
The First-Second Nat. Bank of Pittsburgh, which recently
failed, had, it is said, $127,000 of the company's funds on deposit and was
placing the bonds.
The company purchased the blast furnace of the
Salem, O., Iron Co., also, it is said, the plant of the Passaic Steel Co. of
Paterson, N. J., and was preparing to build an
open-hearth steel plant
at Leetpnia.
A. P. Mayer of Pittsburgh was President.
Minneapolis (Minn.) Gas Light Co.—Injunction.—
The City Council on July 25, by a vote of 22 to 3, passed the Hooker
ordinance reducing the rate to be charged by the company from 85 to 70
1.
District Judge Leary on July 25 issued an order
restraining publication of the ordinance and requiring the city to show cause
on Aug. 7 why a
temporary injunction against such publication should not
cents, effective Sept.
makes
P-
Stone & Webster sold last week an additional $1,500,000 1st M
6% bonds
due 1061 offered at 81 and interest,
making $19,500,000 of the issue
outstanding along with $2,500,000 one-year 6% notes due Jan. 24 1914.
$6,000,000 of 6% pref stock and $16,000,000 of common stock.
An addi,
tional $1,500,000 1st M 6s is in the treasury.
Compare V. 96, p. 1025, 1844-
New York Edison Co.—Increase
of Stock.—
Nipe Bay Co,—Earnings .—For
year
our
ending June 30:
Preferred Com. Divs.
Covered—
Earns.
Dividends.Year end. June 30 '13.$374,017 $420,038 (2)340,000
9mos. end. June 30'12 646,594
320,172 " (3)60.000
Yr. end. Sept. 30 '11- 470,063
405,456
(1)20,000
Yf. end. Sept. 30 '10.1,672,075
405,079 (7)140,000
(4%).
......
.
Balance,,
Sur.orDef.
def.$86,02l
sur.266,422
—sur.
44,607
$140,100 sur.986.895
The company's sugar mill produced 118,330,812 lbs. of sugar and
2,847,021 gallons of molasses during year end. June 30
1913, against 81,386,568
lbs. of sugar and 1,408,932 gallons of molasses
during the 9 mos. ending
Jjune 30 1912 and 92,835,600 lbs. of sugar and 1,842,087 gallons of molasses
^
Pennsylvania Canal Co.—Decision.
Judge Ralston on July 25 filed an opinion in Common Pleas Court No. 5,
Philadelphia, authorising a sale of the property of the company under the
mortgage executed in 1870, and the distribution of the proceeds, together
with a fund of $433,014 74, held by Samuel Rea, as substituted
trustee,
the bondholders and others.
The Court holds that the bond¬
holders must be paid the principal on their bonds before
anything is paid
the Pennsylvania RR. on the coupons Held by it.
The latter claimed to
have purchased the coupons and to be entitled to a lien on the fund
prior
to the principal of the bonds.
Compare V. 92, p. 1377.
among
:
Pierce
Oil
Corporation, St. Louis and New York.—
company, whose present capitalization is
described below under heading, "Waters-Pierce Oil
Co.,"
Was incorporated in Virginia some weeks ago with
$21,000,000
of
authorized
stock,
of
which
there
will
now
be
outstanding only the $10,500,000 common stock, the re¬
mainder, $10,500,000, being 7% cum. participating pref., of
which $10,000,000 is heltl for conversion of
$10,000,000 10year 6% debentures, security for $8,000,000 6% notes.
Acquisition.—This
Directors .—Chairman H. Clay Pierce, N. Y.; Pres. Clay A.
Pierce/and
Treas. E, H, Avery, bath of St .Louis; V .-Pres. C, H.
Chalkey, Sec. E. R.
Flippen, C. Raymond Brown, W. R. Stors and S. Lee Dance, all of Rich¬
mond Va. Robert E. Maloney, of the law firm of H. 8.
Priest, brought the
papers to Jefferson City.
,
Special to "OH, Paint & Drug Reporter" from Austin,
Tex., July 21.
It is learned on trustworthy authority that the Pierce Oil
Corporation 1.
having plans prepared for three new mammoth refineries. One of these wi 1
be erected in Oklahoma, another in Texas and the third in Mexico. While
the Texas business of the company will continue to be conducted in the name
of the Pierce-Fordyce Oil Association for the
reason that the AttorneyGeneral of this State has refused to sanction the taking over of the latter's
holdings by the new corporation, the money for the proposed expansion
of Its operations here will come from the parent concern.
The Pierce
Interests already own an oil refinery at Texas City .
This plant will also be
enlarged.
[Of the company's capital, $2.232,000, it is stated, is represented
by property in St, Louis and about $2,500,000 in Oklahoma,
In the lastnamed State an output pf 3,000 bbls. a day Is said to be
controlled,—Ed.
"Chronicle.)]
Confirmation of the published report that the banking firm of N. M
Rothschild & Sons, of London, Eng>, have formed an alliance with
the
Pierce Oil Corporation or the Pierce interests In the oil business
comes from
Mexico.
According to private advices received here from Tampico,
repre¬
sentatives of the Rothschilds have been active for more than a
year in
securing control by lease and purchase of extensive tracts of oil producing
land ln the east poast territory of that country.
The Waters-Pierce Oil
Co., through its subsidiaries, has also acquired lame oil holdings in the
Mexico fields.
It is stated that the Rothschild and Pierce interests
in that
country were recently merged, as is shown by documents reciting the transfa's filed in the Government offices,
[The rumor of an alliance of the cor-
rration with the Rothschilds and
with the important
Shellbeen
Transport
Trading Co. of London, including so
the Royal Dutch Co., has
denied
repeatedly but is quite persistent.-—Ed *'Chronicle, "j
It is commonly reported in oil circles in Mexico that the Pierce-Rothschild
syndicate is preparing to wage a fight against the Standard Gil Co.
in that
country.
The Rothschilds are also said to be largely Interested
financially
in the Mexican Eagle Petroleum Co., which is owned
by S. Pearson & 8on,
Ltd., of which Lord Cowdray of London is at the head."...
R-C-H
Corporation
(Automobiles).—Receivership.—
U. S. Circuit Judge Sessions on July 25
appointed the Security Trust Co.
of Detroit as receiver.
The step, It is stated, is taken with a view to re¬
organization, the company having been for some time in the bands of a
creditors' committee.
The business this spring, it is stated, has been satis¬
factory.
Jt was announced on July 1 that the production of
lO.OOO cars
would be the basis upon which the company would
work this year, since
which time contracts and orders for
approximately 7,000 cars have been
closed.
President J. F. Hartz will co-operate with the
receiver, con¬
tinuing the business,
(M.) Rumely Co.—Official Statement..—Pres. O. S, Funk,
formerly General Manager of International Harvester Co.,
largely
of which, however, would justify many of the
stories.
■
The experience of this company, which has resulted
largely from rapid
expansion, is an experience that has come to many of the oldest and most
successful implement concerns.
The experience will make better and
stronger every man in it,
The future rests entirely with its organization.
It has a splendid line of machines and
implements.
Its thresher lines
comprise three of the oldest and best-known lines of threshers.
Two of
these companies have been in business over half a
century each.
We must
?;o after trade more aggressively than
and with full
ever
confidence in the
uture of the company.
[Directors: John H. Guy, C. S, Funk, Paul D. Oravath, James
A- Pat¬
ten, A. J, Rumely, E. A. Rumely, W, H. Mason. C, P.
Holton, EUsha
Walker and Max Horwitz, with one vacancy caused by the recent
resigna¬
tion of Heman Gifford of Chicago.
D. Owings, formerly of International
Harvester Co.. has succeeded Dr. E. A. Rumely as
Vice-Pres.. and Dr.
Rumely is now Secretary.—V, 97. p. 241, 65.
St. Louis County Gas Co,—Status, dec.—
See Nor. Am. Co. under
"Reports" and V. 96,
p. 944.^-rV.
95, p. 684.
Spanish River Pulp & Paper Mills.—Ratified.—
The stockholders, on July 28, ratified the
proposed consolidation wit
Superior Paper Co. per plan V. 97, p. 241.
The latter had prh
viously approved the consolidation V. 97, p. 241.
ethe Lake
Thomas Iron Co.,
Hokendauqua, Pa.—President.— :
Ralph H. Sweetser (Supt. of Columbus (O.) Iron & Steel Co.) was on
July 23 elected President and Gen. Man.
Compare V, 78, p. 2388; V, 95,
p. 485; y. 96, p. 1026.
^
¥
Union Electric Light & Power Co., St. Louis,—Status.
See Nor. Am, Co. under "Reports" and V. 96. p. 943.—V. 96, p. 1302.
Holders of unassenting Gen. M. 6s of series due
July 1 1911 to July 1
1913, incl., issued under Gen. Mtge. of Dec. 22 1905 (Trust Co. of Am.,
trustee) can now obtain from the Special Master (at Eq. Tr. Op.) 37 Wall
St., their pro rata share of the proceeds of sale of the mortgaged premises,
namely $250 27 on each $1,000 bond, with all coupons from July 1 1911
attached (plan V. 95, p. 241; V. 94,
p.
1511, 636; V. 96, p. 558).
As toLold collateral trust
bonds, see Am. Strawboard Co. above (V. 96,
p. 558.)-%. 96, p. 1494, 1485.
,
UnitednCeal Co., Pittsburgh.—Aug. Coups, to Be Paid.
Com¬
State and City" Department,—V. 97, p. 121.
in 1910-11.—V. 96. P- 1301.
organiza¬
newspaper
See American Water Works & Guarantee
on
pany's Offer to Sell to City.—See "Bayonne, N. J.," in
Interest &
Discoxint.
Rumely
at some of its methods, npne
Co. of New York above,—V. 96, p, 1486.
New York & New Jersey Water Co.—jElection
Net
the
United Box Board & Paper Co.—Old Bonds.—
I
Period
to
The company Is now on a sound and conservative basis.
No claim has been
made that the company is insolvent, criticisms being aimed most
1605.
Mississippi River Power Co.—Bonds Sold.—
See Consolidated Gas
announcement
xcvii.
tion:
be granted, pending the tnal of a suit in which the
company asks that the
ordinance be adjudged "unjust, unreasonable, confiscatory, void and inade¬
quate and insufficient to afford plaintiff a fair and reasonable return on its
plant and property."—V. 93,
this
[Vol.
'
United
Co. above.—V. 97, p. 121.
States
Finishing Co.—Plan—Earnings — The
creditors' committee and the shareholders' committee
report:
Digest of Statement by Creditors* Committee, N, Y. City,
July 24.
We are now able to supplement the report of May 3
(V, 96. P- 1494)
follows:
The effort to formulate a plan of reorganization resulted in the
appointment of a stockholders' committee, the personnel of which is par¬
ticularly strong.
Opportunity has thus been afforded for more direct
negotiation with the stockholders.
This stockholders' committee has re¬
cently asked an extension of time to put into execution a plan of reorgani¬
as
zation.
Your committee has maintained a close
supervision over the af¬
fairs of the corporation and is gratified to observe the
substantial progress
under the management of Mr.
Thompson.
The accounts [since
made
April 1) have been kept by Barrow, Wade, Guthrie & Co.,'employed by
your committee.
Their report herewith shows that a deficit
during the
last three months of the old management
[as determined by said account¬
ants] has been turned into a profit of, say, $85,000 during the past three
months under the new management.
This showing indicates a substan¬
tially greater annual earning capacity in view of the fact that the maximum
business of the company falls in the months from November to April and
in view of the further fact that this profit has been realized in the face of
inevitable confusion arising from the existing embarrassment of the com¬
pany coupled with a complete change of administration.
In view of the prevailing financial conditions, it would seem
improbable
that any plan of reorganization can be consummated
prior to the fall and
winter months.
Your committee is, therefore, disposed to accept the offer
of the stockholders' committee, but will until Aug. 15 await an
expression
of the views of the creditors in ordetfthat our action
may
of
a
In
substantial majority of the banks.
our opinion, the loss incidental to
receivership
reflect the views
thus be averted;
the earning capacity of the company can bo further demonstrated; intro¬
duction of new capital can be rendered attractive, and the payment of
these bank obligations can thus be hastened.
Should any untoward inci¬
dent arise, your committee will be In position immediately to cause all of
the notes to mature.
You will appreciate that bonds of nearly $3,000,000
constitute a first lien on the properties of the company, and this circum¬
stance would render liquidation peculiarly difficult for the bank
creditors.
Upon the issue of the new notes the old notes will be held hy the committee
as
collateral security, thus preserving the indorsement of Mr. Jerome.
[Signed by C. L. Bausher, George 8. Mumford and Herbert J. Wells.
Creditors Committee.)
'
can
Communication from Stockholders* Committee, N. Y. City, July 2$.
The report of the chartered accountants shows the rate of earnings for
three months under the new management to be sufficient to cover all ex¬
penses and interest charges, leaving a substantial surplus applicable to the
reduction of the debt.
This would indicate that the company has already
been placed upon a sound basis.
A plan of reorganization has been formulated, contemplating a new issue
of pref- stock, the proceeds of which are to be utilized in payment of the
bank obligations.
This committee now holds proxies for more than 75%
or each.class of stock outstanding, thus having power to consummate
the
n" ya. demonstrate
The intervening
time before
Sept.
13, company.
however, isThe
not present
sufficient
to
the earning
power
of the
con¬
dition of the money market also is such that
we
think it desirable to hold
ourplans in abeyance until financial and manufacturing conditions improve.
we propose that on Sept. 13 1913 the company
pay 10% upon the prin¬
cipal of its indebtedness, together with interest to that date, and execute
new notes for the balance, payable in one year, these notes to bear
interest
at 6% per annum, payable quarterly, and to be subject to the
power of
your committee to declare them due at any time should such action, in the
opinion of your committee, be desirable, further payments upon account
or tbe
principal to be made from time to time as the earnings or the com¬
pany warrant.
If this offer be accepted, we believe that the liquidation
of the debt can be accomplished within a reasonable
time, and we shall
devote our utmost endeavors to this end.
[Signed: Henry B. Thompson,
Pres. IT. S. Finishing Co.; Andrew McLean, Pres. Andrew
McLean Co.,
Passaic. N, J.; Jesse H. Metcalfe, Pres. Wanshuck Co., Providence;
Francis J. Leavens, Pres. Dime Savings Bank, Norwich;
Edward A. Greene.
Pres. Citizens Title Ins. & Mtge. Co., Passaic, N. J.
Statement of Earnings as Determined by Barrow, Wade, Guthrie &
Co,, Subject to Adjustments.
In giving the following statement of the monthly earnings, the
profits
are shown In two ways: (fust) after
deducting all interest on outstanding
bonds and floating debt and (second) excluding the interest
charge on float¬
ing debt.
The results also include the profit of the Queen Dyeing Co.
Old Management—
January, loss—
February, loss.
March, loss
Total loss, 3
__.__$36,101
21,958
17,309
New Management—
April, profit.
$8,266
May, Profit,.9,562
24,152
June, profit
r
months.$75,368
Total profit, 3 months.,..$41,980
2,683 Queen Dyeing Co., profit._r 15,099
Queen Dyeing Co., profit.__
Deficit for 3 months. _T,„r .$72,685
Interest on floating debt
32,600
Def. excl. float, debt
chge_$40,086
Surplus for 3 months...r.$57,079
on floating debt....
28,913
Interest
Sur. excl. float, debt
chge_$85,992
All obligations incurred by this corporation since the
appointment of the
committee have been paid (except, of course, current
debts).
No money
has been borrowed and interest on all outstanding bonds has been paid.
«rV. 96, p. 1494. 10261
.
,
ACG. 2
THE
1913.]
[The July 1 coupons were
Col. Tr. Co.,"
CHRONICLE
pro:
at Old
She ©ummmial gimes.
D. & JT. 5s at Eq. Tr
United
States
Light & Heating Co., N. Y.—Official
Circular.—Pre?, f. Allan Smith in circular of July 23 explains
the deferring of the July semi-annual 3H% dividend on
the $2,500,000 cum. pref stock substantially as follows:
For the year ended June 30 1913. the net profits (June estimated) were
$349,495. after writing off $122,052 for extraordinary expense, comparing
with $355,895 for year 1911-12, and with $335,014 for 1910-11.
In April 1912 the company obtained the right for manufacture and sale
osf an automobile electric starting and lighting device.
Several valuable
three-year contracts were shortly afterward executed, amounting in gross
to over $8,000,000.
This large addition to our business necessitated
extension to factory facilities
approximating 100% and a considerable
increase in inventories of material, all of which were financed out of earn¬
ings and short-time loans without the issue of any additional stock or creation
of any funded debt or
mortgage on the company's property; in the six
months ended June 30, 1913, We reduced these loans by $137,500.
Construction work at the factory and other handicaps due to the large
increase in business seriously retarded our
manufacturing facilities ovea period of several months
during the summer and fall of 1912, so that prof¬
its of the first six months of the past fiscal year were diminished, but in the
second six months of this year, when factory conditions were normal, our
profits were $253,527, as compared with $168,127 for the corresponding
period of the year previous, notwithstanding that in May 1913, our factory
was closed
through strike of employees (now adjusted) most of that month.
The extraordinary expenses written off which were never carried by any
previous Statement consisted of: advertising campaign $45,000; abnormal
expense due to installation of starter department, $77,052; total, $122,052;
and in addition to the foregoing the company experienced in reduced earn¬
ings over $90,000 on account of the strike.
During the last six months our earnings have been at the rate of nearly
three times our dividend requirements for pref. stock.
Owing to the
desirability of retaining intact all our present working capital in order
properly to handle the expanding business, the directors believe that best
interests of stockholders will be served
by deferring payment of semi¬
annual preferred dividend usually
payable in July.
This dividend is how¬
ever, cumulative, and will be paid when warranted by conditions.
The
short-time financing has recently been provided for in a satisfactory manner
v. 97, p. 242.
>
r
,
■
Vulcan
Detinning
terly Statements.—
Co.,
Now York.—TV Issue Quar¬
.
Waters-Pierce
There is
year,
is
"Reports" and V. 96,
p.
a
Friday Night, August 1 1913. "
fair volume of business for this season of the
although the conservatism hitherto
still
manifest.
the
If
factor.
The
Clark
tariff
so
is
plainly apparent
undoubtedly
amendment, imposing
a
disturbing
prohibitive
tax on cotton futures, is passed, it will have most mischievous
results.
The recent improvement in the price of securities
is an encouraging feature.
The outlook for the crops is in
the main favorable, despite the hot weather in the corn
belt, of which not a little speculative capital has been made.
In any case, the wheat crop bids fair to be one of the
largest
ever
raised.
Qn the whole, there is an undercurrent of
confidence as to the future of American business, even if
for the moment the pace is cautious.
The Mexican question,
a
though still disturbing, seems less threatening, and it is hoped
a way of restoring law and order in Mexico will yet be
found which will inure to the benefit of vast invested capital
without needlessly wounding racial sensibilities.
that
LARD firmer and in moderate demand;
prime Western
$11 80; refined for the Continent $12 20; for South America
$12 95; and for Brazil, in kegs, $13 95.
Lard futures have
been
irregular, showing sympathy occasionally with easier
prices for hogs, but strengthened at other times by the firm¬
ness of corn.
Increased receipts pf hogs, however, are ex¬
pected, owing to the recent hot weather.
To-day prices
advanced in sympathy with the rise in grain and hogs.
.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO
Sat.
Mon.
Tues.
Wed.
Thttrs.
Fri,
.
July delivery
cts_11.67}*
September delivery
11.77
October delivery
11.82
January delivery
10.62}*
11.70
11.70
11.77}* 11.77}*
11.85
...
10.62}*
10.70
11.50
11.57}*
11.67}*
10.70
......
11.55
11.65
10.67}*
......
11.67}*
11.77}*
10.72}*
PORK
Kentucky Coal Co .—Tonnage,
See Nor. Am. Co. under
COMMERCIAL EPITOME.
'
The shareholders having voted 15,831 shares in favor of
quarterly state¬
ments, as against 2,504 for semi-annual statements, the directors, it is
announced, will hereafter issue quarterly statements pf earnings as advo¬
cated by John Muir & Co.—V. 97, p. 47. 181,
West
303
944.—V. 92, p. 1120.
Oil
Co., St. Louis.—-Me.—Henry S.
Priest and Clay Arthur Pierce, liquidating agents and trus¬
tees, announce by circular dated at St. Louis, July 25, that,
pursuant to resolution of the board of directors, approved in
writing, by about 93% of the outstanding ($400,000) stock,
and in consideration of the payment of $5,000,000 in cash and
$10,500,000 face amount of the common capital stock of the
Pierce Oil Corporation, being all the presently issued stock
of the last-named company, all of the
property of the WatersPierce Oil Co. was on July 25 sold and conveyed to the Pierce
Oil Corporation (of Va.) see that
company above.
The
steady;
mess
$23 25@$23 75;
clear $20 75 @
$22 50;
family $25@$26. Beef steady; mess $19@$20;
packet $21 @$22;
family $22@$24;
extra India mess
$31 @$32.
Cut meats firm; pickled hams, 10 to 20 lbs.,
16^@17J^c.; bellies, clear, f.o.b. New York, 6 to 12 lbs.,
15H@18J£c.
Butter,
creamery
extras,
2 6H@20Mc.
Cheese, State whole milk, fresh colored specials, 14 M@
14%e.
Eggs, fresh gathered extras, 24@26e.
OILS.—Linseed steady;
City
raw
51c.; boiled 51@£2c,'< Calcutta 70c.
winter 9.60c.; summer white 9.60c.
Cochin
American seed 5Qc,@
Cottonseed oil firmer;
Cocoanut
oil
strong;
133^@14c^ Ceylon UH@12c.; Chinawood in good
additional consideration for the sale and transfer was the
assumption
by Pierce OH Corporation of all the debts and liabilities of the WatersPierce Oil Co.
The Pierce Oil Corporation has outstanding:
demand at 7H@7He.
Corn fairly active at 6.50 @6.55c.
Cod firm at 38@40c.
•
COFFEE has been quiet; No, 7 Rio
Mild
grades slow; fair to good Cuouta 11 @11 He. Coffee futures
have been quiet and irregular.
The receipts have been large
Common capital stock above referred
and
circular further shows:
An
.
One-year 6%
gold notes,
secured
by
$10,500,000
an
authorized issue of
$10,000,000 lOryear 6% debentures convertible into 7% cum.
participating pref. stock of a like amount, which pref. stock
has been authorized and reserved
j
for the purpose of convertlag the said debentures.
8,000,000
Purposes for Which the Proceeds of the $8,000,000 Note Issue Were Used.
(а) $ 1,250,000 to pay the principal and Interest of a like amount of collat¬
eral trust gold notes or the Waters-Pierce Oil Corp., due Oct. 1 1913. *
(б) $1,400,000 advanced to Pierce-Fordyce Oil Association upon its l-yr.
note for a like amount and used tp retire maturing company's $1,400,000
collateral notes.
•
(c) Balance to payment of that part of the purchase price Of the WatersPierce Oil Co., payable in cash.
The loan to Pierce-Fordyce Oil Association was made In consideration
of the deposit of
approximately 88 % of the outstanding stock or said asso¬
ciation as additional security for the above-mentioned issue of $8,000,000
face amount
of
.
December,
9.23 @ 9.24 April
9.48 @9.50
January
9-30 @9.32 Max-., —.-9.54#9.55
February... _9.37@9.39
March
_9.43 @ 9.44
__
SUGAR,—Raw
higher.
Stocks in the United States
748,688 tons, against 794,548 last week and
544,805 last year.
Centrifugal, 96-degrees test, 3.64c.;
muscovado, 89-degrees test, 3.14c.; molasses,j 89-degrees
test, 2J89c.
Refined has been quiet and steady at 4.60c.
for granulated.
\
and Cuba
are
Waters-Pierce Oil Co. Stock.
[Upon surrender to Guaranty Trust Co., 140 Broadway, N. Y, City),
A pro rata share In $5,000,000 cash payment, being per $100 eh.$1,250
A pro rata share in $10,500,000 stock
payment, being tor each
$ 100 share.
2.625
(a)
(5)
—
See also Pierce Oil
August
_8.92 @8.95
September. ..9.06 @9.07
October.
9.11 @9.13
November^. _9.15@§.16
.
6% gold notes of Pierce Oil Corporation.
Stock and Cash to Be Given
for the $400,000
there is still an undercurrent of bearish sentiment not
only because of the liberal crop movement but also because
of the refusal of our interior dealers to abandon the
policy
of buying from hand to mouth.
To-day's prices were lower.
Closing prices were as follows:
Corporation above.—V. 96,
p.
1494.
Willys-Overland Co.—Dividend.-^
The extra dividend of
of record July 19 (not
5% payable Aug. 10 will be made to stockholders
July 11).—V. 97. p. 242.
PETROLEUM
cases
ll@12c.
firm;
barrels
bulk 5 @6c.,
8.70@9.70c.;
Pennsylvania crude $2@$2 50; Kansas and
Okla. 98c.; Corsicana, Texas,, 80c.@$l; North Lima $1 89;
South Lima $1 34; Indiana $1 34; Illinois $1 30. Naphtha
steady; 73 to 76 degrees, in 100-gallon drums, 25c.; drums
$8 50 extra.
Gasoline, 86-degrees, 29He.; 74 to 76 degrees,
25He.; 68 to 70 degrees, 22^0, and stove 21c.
Spirits of
turpentine 38 @38 He.
Common to good strained rosin $4 25J
-
^—Kissel, Kinnicutt & Co. of N. Y., Chicago and Hartford,
and Lee,
Higginson & Co. of N. Y., Boston and Chicago,
having sold the entire issue of $3,500,000 Illinois Central
equipment trust 5% gold certificates, are publishing the
advertisement of this offering in to-day's "Chronicle'' as a
permanent matter of record.
The certificates
to 1923 and priced for investment on a
are
due 1914
5^% basis.
TOBACCO has remained comparatively steady, despite
the fact that manufacturers are supposed to be carrying
rather small stocks.
That means they are still buying only
their urgent or immediate necessities require,
Meantime
available supplies being but moderate, whether of filler or
as
binder, prices remain steady, regardless pf the midsummer
lull in trade.
COPPER, after being more active and stronger, has shown
irregularity, with apparently rather' less demand;
Lake 15c,; electrolytic 14He.
London had displayed some
weakness.
Tin here on the spot 40.20c., with moderate
trading; London firmer.
Spelter here 5.60c,; lead 4.55c.
London stronger,
Pig iron in fair demand; No. 2 East
$14 50@$15; No. 2 Southern $10 50@$11.
Structural iron
and-steel somewhat more active latterly, and where trade is
not better some improvement is expected before
long.
But
unfilled tonnage on thd books of all companies decreased
during July 550,000 tons. Within a few days some 75,000
tons of Valley pig iron have been sold, half Bessemer and
half
basic.
It was taken by the Youngstown Sheet & Tube Co.
some
■—Perry B. Strassburger has opened an office for the trad¬
ing and investment business in high-grade municipal and
corporation bonds, in the new Stock Exchange Building,
1411 Walnut St.,
Philadelphia.
Mr. Strassburger was for¬
merly with William E. Sweet & Co. of Denver and Phila¬
delphia,
—Messrs, C, E, Denison & Co., Boston and Cleveland,
a circular
offering $50,000 City of Akron, Ohio,
5% fire department bonds at prices on all or any to yield
'4.60%. They are legal investments for New England and
have issued
New York
,
in
Savings Banks.
—Frederick W, Ludwig has been admitted
the
New
Battelle.
York Stock
to partnership
Exchange firm of Hartshorne &
Mr. Ludwig is manager of the firm's bond de¬
partment.
It is understood to have been at $14 40 for basic delivered at
its warehouse and $15 65 for Bessemer.< New buying of
finished steel is less than half the current shipments; and as a
rule 30-day deliveries
being
one
can be had
of the exceptions.
on
steel products, tin plates
...
..
i
[Vol.
CHRONICLE
THE
304
v
xcvii.
■
On
COTTON.
Friday Night, August 1, 1913.
THE MOVEMENT OF THE CROP, as
June 20 at—
indicated by our
For the
telegrams from the South to-night, is given below.
ending this evening the total receipts have reached
week
20,061
bales the previous week, making the total receipts since
Sept. 1 1912 9,504,215 bales, against 11,471,758bales for the
same period of 1911-12, showing a decrease since Sept. 11912
of 1,967,543 bales.
;'v '
14,527 bales, against 18,042 bales
week .and
last
Shipboard, Not Cleared for—>
Great
Britain. France.
New Orleans—
Galveston
Ger¬
Other
Coast¬
many.
Foreign
wise.
196
94
353
2,958
1,325
1,966
756
Leaving
Total.
1,069
Stock.
20,297
3,601
5,116
16,244
16,576
1,877
1,991
11,160
34,237
21.177
'
Savannah
'
m,
Charleston
Mobile
4*
194
■
km
mm
<m
mm
km
If*
mm
mmm
_
Norfolk
»
—
•km*
New York
Other ports
100
Total 1913—
200
100
500
400
—
194
Total 1912—
1,903
1,901
Total 1911—
861
898
2,762
2,584
5,731
60
50
244
11,870
11,870
1,800
1,000
mm
mm
500
•
5,283
4,751
12,989
16,316
2,285
408
123,559
202,651
133,507
23,131
25,612
10,183
.
Sat.
784
Galveston
Texas
City
4,737
724
564
_
Aran. Pass, &c__
201
New Orleans——
936
Mobil© 'mi
Pensacola
—
/
1
447
27
756
120
_
118
19
1
67
"387
79
2,053
""20
"42
"152
States.
"37
plant
507
421
2,394
______
Savannah
422
289
—i—
""60
"29
;
Wilmington
""36
.
Norfolk
"234
"216
261
755
669
669
N'port News, &c
New York__
Boston
""33
'"33
-
*562
572
1,882
14.527
Baltimore
Philadelphia
Totals this week
2,664'
1,874
1,870
3,068
_
3,169
following shows the week's total receipts, the total
The
report caused a sharp rise.
has
practically held its
own
come
advices that the
during July,
deterioration.
from Arkansas, Tennessee,
compared with
since Sept. 1 1912, and the stocks to-night,
last year:
r
The gist of
Louisiana and various plher
small, it
was
and that the fields
have
been
stated
that
these reports
was
were
the
clean.
Several private crop reports
deterioration
during the month had
negligible matter. In Texas,
where rather prolonged hot, dry weather has lowered the
condition, this kind of weather has tended to destroy or
trifling, almost, indeed,
keep down pests, not
which
as
a
even
excepting the
boll
weevil,
flourishes in wet conditions.
is known notoriously
there
Moreover,
This
Since Sep
1 1912.
Week.
Texas City
Port Arthur
Since Sep
Week.
1 1911.
138,642
201
128,100
3,622 1,430,842
Aransas Pass, &c_
New Orleans
Gulfport
•
225,91§
""67
Mobile..
Pensacola
Jacksonville, Ac-
124,899
15,458
2,053 1,280,552
234*334
"152
306,626
Savannah-
----
-
-
110
Georgetown
Wilmington
Norfolk-
""37
;
2,394
York
""33
Boston
Baltimore-".
-
Philadelphia—
—
-
562
-
342,642
542,110
117,003
15,300
45,659
76,165
7,595
669
N'port News, &c.
New
This
4,737 3,805,387
666,875
Galveston
8,277
.
1912.
1913.
21,348
21,360
2,876 3,509,771
586.468
200,569
79,526
2",205 1,653,089
66,845
"235
381,654
215,979
50,419
1,445 2,376,736
404,363
9
413,937
1,169
"160
548,019
749,349
1,171
38,486
"58
6,831
118
62,885
122,775
2,988
14,527 9,504,215
Totals
Stock.
1911-12.
1912-13.
Receipts to
August 1.
559
\ 23,898
26",798
"2",235
"2", 189
'"'370
21,439
16,576
622
141
1,877
3,145
"9,501
"""230
•
23,030
17,745
36",037
125,777
6,032
4,185
4,595
3,887
•
408
975
146,690
228,269
,,
11471758
In order that comparison may be made with other years,
give below the totals at leading ports for six seasohs:
;
ire
;
..
■;
*f
1913.
Receipts at—
Galveston
—
r
2,876
4.737
*
TexasCity.&c
201
New OrleansMobile
3.622
67
Savannah--
2,053
.—
-
1911.
1912. '<
k
.
Brunswick
'"'152 H)c,TQ
Charleston ,&c
37
2,394
WilmingtonNorfolk
All others—_
669
595
Tot. this week
14,527
N'port N.,&c.
Since Sept. 1. 9,504,215
1,639
1,010
"l",6i"l
11
,
•r
&
•
18°
.
.
14,557
2,051
*2",193 V "2,036
•
36
347
1,512
570
.
2,581
"""183
"
42
5
60
706
607
1,002
'"""584
*1,652
""'866
T.no
7,567
6,491
Miep
1,171
8,277
257
548
*"*"""7
1908.
1909.
1910.
,
5,403
279
.
7,804)
21,876
11471758 8,403,262 7,253.655 9,796,381 8,242,002
the week ending this evening reach a total
32,023 bales, of which 1,155 were to Great Britain,
4,511 jto France and 26,357 to the rest of the Continent.
Below are the exports for the week and since Sept. 11912:
The exports for
of
Week ending Aug. 1 1913.
From
Sept.
Exported to—
1 1912 to Aug. 1 1913.
Exported to—
Exports
Britain. France,
GalvestonTexas City-
nent.
Total:
3,984
11,1271,312,606
1,549
406,308
4,824
31,480
12,921
739,623
8,808
_
Charleston
_
"423
423
3",7l4
4",796
326,610
54", 108
1~,I§§
148,292
8,526
53,981
"3",877
_
Wilmington
York-
Boston.
—
1,082
_
"73
Baltimore.
.
•-
527
'588
Philadel'a.
■H4-
500
"loo
Fran.-J
291
213,300
594,018
10,220
158,512
56,279 Xr68,682
8,130^2,111
507
"
507
Portl'd, Me.
San
5,000
59,673
79,213
138,642
8,606
37,575
449,0071,339,617
57,122
142,950
65,963
125,099
636,369
833,356
100,328
211,564
150,111
228,478
152,115
317,831
55,245
72,359
901
N'portNews
New
25,562
34,791
63,269
4,032
_
i Norfolk
27,949
16,048
150,987
"
*
262,867 ^262,867
104,279
104,279
3,716
3,716
Pt.Towns'dJ
Portl'd, Ore
have
done
there
and
a
little
the
have
been
are
well
beneficial
'some
Insects, it is agreed,
Labor is plentiful
damage-in Texas.
fields
cultivated.
New bales
are
increasing in Southern Texas and it is stated that picking
will be general in that section next week.
Some advices
from Georgia point to a much larger crop than the last one
and possibly to a yield approximating the best ever known,
owing to careful preparations last spring, improved seed,
the use of high-grade fertilizers, and, finally intensive cultiva¬
tion: Liverpool's spot sales, which were recently 10,000 bales
a day, have decreased noticeably.
The Continent has within
a week or ten days sold heavily in Liverpool.
^Jle shadow
of the Clark "rider" to the tariff bill calling for.ia tax of onetenth of a cent per pound on cotton sold for future delivery
has still been over the market.
Its passage'would, it is
feared, close up the New York and New Orleans cotton
Exchanges and throw the business in "futures" into the
hands of Liverpool, Bremen and Havre.
The results would
be to the last degree hurtful to the farmers themselves.
As
to short selling, it is worth while to remember that the man
who sells short enters into a contract to buy just as the man
who buys must necessarily become, sooner or later, a seller.
Speculation is obviously inseparable from trade, whether it
be in cotton, iron, steel, real estate or anything else.
Apart
from this threat of a mortal blow to the cotton trade and the
farmer's own interests
by paralyzing-' the indispensable
"hedging" branch of the business, some factors have been
regarded as favorable to an advance.
The old-crop months
have shown marked strength.
The stock here has re¬
mained small.
No August notices were issued.
July ad¬
vanced 46 points on the 31st inst. Parts of Texas need rain.
Some London members of the trade stick to it that : the
world's consumption of American cotton will approximate
14,750,000 bales, though others look for 14,500,000 bales,
the
high-record
figures
of ; last
year.
Liverpool,
New Orleans, Memphis and some spot interests have bought.
Spinners are said to have bought to some extent.
The South
has sold against the actual cotton.
Some have latterly been
holding aloof awaiting the Government report.-. Lancashire has sold here as a hedge against its stock.
To-day came the.
Government report, which caused a sudden advance of 15 to
17 points.
It gave the condition as 79.6, against 81.8 last
month, 76.5 last year, 89.1 two years ago and 80% as the
10-year average.
Total.
nent.
390,6431,434,742 3,137,991
—
146,753
87,490
640,551
4",032
Pensacola
Brunswick
France.
60,266
24,345
133,718
111,236
73,367
106,043
16,614
Mobile..
Savannah
Britain.
11,127
1,549
Port Arthur
Ar. Pass,&c.
NewOrleans
Conti¬
Great
Conti¬
Great
from—
that, although the
was
strong and vigorous and well fruited,
rains in Texas and also in Oklahoma.
Brunswick
Charleston
crop
month in which
Such reports have
a
....
Charleston
Georgetown
Friday the Government
there is often noticeable
Jacksonville, &q.
Brunswick
on
From various States, however, came
3,622
19
;
201
52
1,022
1,047
little
irregular prices. Values were inclined to be
the outset, owing to more favorable crop reports.
easier at
But
Port Arthur
a
active at
more
421
1,213
1,031
Speculation in cotton for future delivery has been
Total.
Fri.
Thurs.
Wed.
Tues.
Mon.
It showed deterioration during July of
8% in Oklahoma, 5% in Texas and Mississippi, 3% in Flor¬
ida and 2% in Louisiana.
There was heavy covering for
American and European account. . The report,, on the other
hand, showed an improvement for the month of 1%^ in Ar¬
kansas and North Carolina and 2% in South Carolina and
Many believe that con¬
of the Gov¬
ernment report;.
Spot cotton closed at 12.10c. for middling
uplands, showing an advance of 5 points for the week.
The official quotation for middling upland cotton in the
Georgia.
Some rain fell in Texas.
ditions have improved since July 25, the real date
New York market each
day for the past week has been:
Sat
July 26 to Aug. 1—
11.95
Middling uplands—
NEW
YORK
Mon
11.95
QUOTATION
Tues
Wed
12.10
12.00
FOR
32
Thurs
12.00
Fri
12.10
YEARS.
The
Total
Tot.
'11-'12
I
1,155
4,511
26,357
32,023 3,566,734
15,110
75
14,527
29,7124,226,8731,161,5585,000,770i 10389201
Note.-r-N. Y. exports since
979,160.3,935,102 8,480,996
Sept. 1 include 20,807 bales Peru, &c., to Liverpool, &os
P 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 York.
•
"
t
quotation for middling upland at New York on
August 1 for each of the past 32 years have been as follows:
1913-C—-—12.10
1912
13.00
1911.-12.50
1910
-.15.20
1909—
12.80
1908--—---10,60
1907—
-13.00
,1906
10.90
-
—
1905.c
1897.C
8.00 1889-C——.11.31
10.70 18967.44 1888—10.94
7.12 1887
12.75 1895
.10.00
1902
•—
8.94 1894—— 6.94 1886
9.56
1901
8.06 1893
8.00 1885.10.50
1900—
10.00 1892
11.06
7.50 18841899——— 6.12 1891——' 8.00 1883
-10.00
1898-——- 6.06 1890
12.25 1882—*—.-12.81
1904
10.85
j
1903..
—
...
——
—
—
AUG. 2
FUTURES.—The highest, lowest and
305
CHRONICLE
THE
1913.]
closing prices at
AT THE INTERIOR TOWNS the movement—that
is,
the receipts for the week and since Sept. 1, the shipments for
the week and the stocks to-night, and the same items for the
New York the past week have been as follows:
Friday,
Saturday, Monday, Tuesday, Wed'day, Thursd'y,
30. July 31.
26. July 28. July 29. July
July
Aug. 1.
Week.
@
11.70-.25
corresponding period for the previous year—-is set out in
detail below.
July—
Range
11.71-.83 11.70-.82 11.71-.94 11.70-.93 11.80-.25
Closing..
—
—
Range
Closing..
.
.-
11.51-.52 11.57-58 11.64-. 65
.
Closing..
11.19-.43
11.43
11.31-.36 11,19-.27 11.30-.42 11.25-.33
..
..
11.29-.31 11.26-.28 11.35-.36 il.35-.37 11.33-.35 11.44-.45
__
—
Oct.—
Range
Closing.
!
11.18-.27 11.12-.21 11.18-.27 ll.12-.25 11.22-.28 11.20-.39 11.12-.39
ll.18-.20 11.18-.19 11.22-.23 11.24-.25 11.22-.23 11.34-.35
_.
Nov.—
_
r,
Range
—•"
__
..
ii.bo-.il
,—
11.00 —
11.07-. 11
@ —
11.U-.13 11.13-.15 11.16-.18 11.20-.22 11.16-. 18 11.30-. 32
_
Closing..
—
_
_
Dec.—
Range
11.12-.22 11.05-.17 11.15-.25 11.U-.23 11.18-.26 11.16-.36 ll.05-.36
._ __
ll.12-.13 11.16-.17 11.19-.20 11.22-.23 11.18-.19 11.32-.33
Closing..
Jansr4
Range
Closing..
—
_
_
.
..
^ 11.04
—■
w
—
—
_
—
@
11.04
—
—
11.06-.08 11.10-.12 11.12-.14 11.15-.17 11.12-.14 11.25-.27
Closing..
11.13-.23 11.10-.18
Closing..
11.13-.14 11.17-.18 11.20-.21 11.22-.24 ll.20-.21 11.33-.34
—
_
—
—
__
—
—
_
—
_
_
—
~
—
—
—
—
—
_
Closing.. —■
@
—
®
-
11.20-.23 11.33-.35
11.20-.23
_
-
11.19-.27 11.14-.22 11.22-.27 11.20-.25 11.23-.27 11.27-.40 11.14-.40
11.19-.20 11.21-.23 11.25-.26 11.26-J28 11.23-.24 11.37-.38
..
Closing,.
J
June—
"ID
'
860
Augusta
475
(a,
2
36
Rome
La., Sbreveport
...
-
—
Miss.,Columb's
Greenville
...
254
Natchez
—
1
■
City..
Mo., St. Louis.
N.O., Raleigh..
1,607
97
3,001
Okla., Hugo*..
S.C., Greenw'd
512
Tenn.,Memphis
1,851
Nashville'
^
_
30
Tex., Brenham
..
Clarksville
THE VISIBLE SUPPLY OF COTTON to-night, as made
by cable and telegraph, is
as
follows.
Foreign stocks,
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.
as
1913.
766,000
1912.
791,000
—5,000
41,000
10,000
89,000
812,000
890,000
15,000
7,000
216,000
134.000
3.000
17,000
23,000
290,000
157,000
3,000
11,000
August I—
Stock at Liverpool.
Stock at London
bales.
—
Stock at Manchester.
1911,
1910.
412,000
520.000
19,000"
53.000
9,000
35,000
ments.
Aug.
Week.
1.
■
Dallas
•-
20O
...
Receipts.
Week.
103
833
941
4,000
55
881
847
11,309
50
650
100
1,692
1,208
10,857
7,791
3,097
3,701
3,256
15
1,310
1,685
128
125
530
100
.......
73
•
.
»
-
923
15
200
444
97
60
'mm
3,537
11,914
837
150
52
75
4,500
23,419
1,457
40
'
000
45 137
—
....
3,059 3,295,601
151,138
Total, 33 towns
13,045 7,153,944
Houston-
mmm,m
1,085
376
8
216
10
2,100
-
Paris
♦Last year's figures are
OVERLAND
—
-
50,664
m
27,602 143,458
6,225) 7,794,999
Stock at Havre
-—-
....
Stock at Marseilles
—-
Stock at Bahjelona.
.
..........I
Stock at GenoeL
Stock at
Trieste.
22.000
13,000
430,000
498,000
....
Total Continental stocks
Total European stocks.
India cotton afloat for Europe.
Amer. cotton afloat for Europe—
17,000
1,242,000 1,388,000
92,000
86.000
58,114
90,934
Egypt,Brazil,&c.,aflt.for Europe.
593,000
14.000
51,000
100,000
2.000
19,000
16,000
9.000
456,000
12,000
104,000
103,000
211,000
264,000
23,000
33,000
91,000
Bombay, India771,000
U. S. ports:
146,690
U. S. interior towns..
143,458
U. 8. exports to-day—
9,289
51,000
519,000
69,000
475.000
228,269
143,690
98,904
95,330
3,174
Alexandria, Egypt
.
720,000
804,000
102,000
39,345
28,000
Stock in
Stock in
Stock in
Stock in
2,000
17,000
19,000
7,000
1,723
82,000
46,321
16,000
53,000
531,000
281,693
64,287
2,375
16
Total
visible supply... .......2,581,551 2,486.830 1.764,539
Of the above, totals of American and other
up
9,289
1,723
3,174
321.000
28,000
204,000
46,321
281,693
64,287
2.375
Total American
—1,333,551
East Indian, Bragil, &c.—
1,618,830
848.539
947,676
200,000
5,000
127.000
10,000
165,000
19,000
11,000
50,000
23,000
29,000
9,000
44,000
7,000
60,000
92,000
86,000
102,000
82,000
28,000
91,000
771,000
23.000
33,000
69.000
16.000
Liverpool stock
Manchester stock..
.
^—;
Continentalstock
American afloat for Europe..:
U. SL port stocks—
.........
U. S. interior stocks
U. S. exports to-day...—.....
...
Liverpool stock
London stock....
Manchester stock.
Continental stock..
■*.
...
.
664,000
355,000
66,000
469,000
45,000
167,000
58,114
90,934
39,345
146.690
228,269
143,690
143,458
98,904
95,330
......
..
.
India afloat for Europe
Egypt, Brazil, &c
566,000
30,000
380,000
-
afloat
—.
Stock in Alexandria, Egypt
Stock in Bombay, India....
Total East India, &c
Total American.
;
.
.....1,248,000
868,000
—.-1.333,551 1,618,830
Total visible su;
Middling Upland, dverpool-.
475,000
53,000
531,000
916,000
849.000
848.539
947,676
51,000
519,000"
91,000
9,000
,
.2,581,551 2,486,830 1,764,539 1,796,676
6.95d.
6^7d.
7.37d.
8,07d.
Middling
rork
Ling Upland,
Upland, New Y
Egypt, Good Brown, Liverpool, i
Peruvian, Rough Good, Liverpool
Broach, Fine, Liverpool
Tinnevelly, Good, Liverpool
....
12.10c.
9.85d,
11
8.85d.
6Hd.
13.10c.
l-16d.
12.75c.
lOHd.
15.45c
13 7-16d
bales.
,•
6 3-16d.
9.50d.
10.60d.
6 9-16d.
U.OOd
QHd.
Aug. 1
Shipped—
MOVEMENT FQR-THE
The above figures for 1913 show
of 189,392
of 817,012
a decrease from last week
bales, a gain of 94,721 bales over 1912, an excess
bales over 1911 and a gain of 784,875 bales over
1910.
MARKET AND SALES AT NEW
YORK.:
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures dosed
on
same
....—1.
Via Louisville
——.
Via Cincinnati
—
...
—
Via Virginia points..
Via other routes, &c_...
...
Inland, &c., from South....
Total to be deducted.
*
Closed.
SALES.
Market
Closed.
Spot.
Contr'ct
Total.
38
60
80
3,202
1,314
9,197
19
175
m
—
—
m
27
mm
m
mm
m
^
mm
■
m-m-m
rn
-
1,880
m"
mm
19,062
....
17,824 98.904
19H-12-——
Since
Sept. 1,
653,130
a247,429
8,458
172,283
130.946
191,400
448,422
2,507
a643
"949
131,833
143,835
385,089
583
27
73
7,508 1,564,709
4,782 1,852,068
695
144,719
398
125,175
•176
64
1,352
107,465
3,777
86,861
2,345
,377,359
4,017
385,486
Leaving total net overland*
5,163 1,187,350
Including movement by rail to Canada,
a Revised.
The
195,479
103,146
765 1,466,582
foregoing shows the week's net overland movement has
against 765 bales for the week last year,
been 5,163 bales,
and that for the season to date the aggregate net overland
exhibits a decrease from a year ago of 279,232 bales,
itfel-13
—- 1911-12
——
In Sight and Spinners'
izt t* t
WeeW.
Takings.
Receipts at ports to Aug. 1......
Net overland to Aug. 1
Southern consumption to Aug. 1.
Total marketedInterior stocks in excess....
Since
Sept. 1.
14,52«p9;504,215
8,277 11,471,758
5,163a{1,187,350
765
2,736,000
56,000
78,690 13.427,565
.*14,557
46,422
*11,549
59,000
....
Since
Sept. 1.
Week.
1,466,582
2.516,000
66,042 15,454.2
al,l
Came Into sight during week..
Total in sight Aug. 1...
64,133
--—---
—
13,473,987
......
15.452.807
Northern splnn's takings to Aug. 1
20,688
2,438,392
11,210
2,565,427
*
Decrease during week,
a
53,443
—
Less than Sept. 1.
Movement into sight in previous years.
Week—
■
1911—Aug. 4.
1910—Aug. 5.....
1909—Aug, 6
Since Sept. 1—
Bales.'
Bales.
..48,142 1910-11—Aug. 4——11,751,122
—29,357 1909-10—Aug. 6—..
10,376,820
—50.661 1908-09—Aug. 6
..13,528,497
.
,
NEW- ORLEANS
OPTION MARKET.—The highest,
closing quotations for leading options in the New
cotton market for the past week have been as follows
lowest and
Or
eans
Sat'day,
July 26.
July——'
Range
Closing
August—
Range
Closing
September—
Monday. Tuesday.
July 28. July 29.
Wed" day. Thursday,
July 30.
July 31.
Fridao•
Aug. 1.
.
...
11.62
11.62
—11.67
11.66
11.66
—11.70
•
11.55
—
11.55-.65 11.56-.63 11.66-.70 11.55-64 11.55-.60'U.61-.62
11.55-.58 11.62-.64 11.65-.67 11.52-.59 11.61-.63 11.64
Range
11.26
—
ll.22-.24 11.30-. 33 11.31-.33 11.33-.35 11.36-.38 11.43-.44
Closing
October—
Range
....
Closing
November-^?
11.17-.32 11.15-.27 11.25-.32 11.18- .30 11.27-.32 11.23-.44
11.17-.18 11.25-.26 11.26-.27
11.15
Rahgsul'.i...
—
Closing.,—,.. 11.15-.17 11.23-. 25
......
Closing
Futures
150
1,070 22,869
Week,
228,884
21,790
92,434
-—
1,987
460
984
486
.
Total gross overland
Deduct Shipments—
Overland to N. Y., Boston, &c..
Between interior towns...
Range
Spot Market
54
—
Via Rock Island
December—
days.
4,967
WEEK AND
Since
Sept. 1.
560,844
Week.
3,537
Via St. Louis..—...
Via Cairo
7Md
*
377
2,507
for Louisville, Ky.
—
6
.
872
473
-
from telegraphic reports Friday night.
The results for the
the last two years are as follows:
7Hd;
9-l§d. 6 9-16d.
Continental imports for the past week have been 90,000
.
-
week and since Sept. 1 in
1,796,676
are as follows:
descriptions
-
SINCE SEPT. 1.—We give below A statement showing the
overland movement for the w.eek and since Sept. 1, as made
'
•
2,620
31
M
-1912-13Total Great Britain stock
Stock at Hamburg
Stock at Bremen....-
17
500
-
36
167,016
....
....
79
-
1 'V
867 3,016,830
29,619
683
2,065
■
98,650
-
mm
6,577
740
,100
38,445
30,427
655,450
24,038
284,295
8,349
17,173
967,159
7,365
17,403
64,773
'
Honey Grove.
2,704
361
3,291 20,796
95,091
105,355
19,920
3
736
-
390
745
1,093
525
80
3,908
-
37
2,100
wmm
334
-
-
-
143,191
37,602
44,524
113
1,072
17,504
•
15
9
1,232
4,327
«...
3,408
900
100
*
260
142
1
1,300
3,010
383
1,981
191
67,807
138
mm.
35
552
100
100
im-m
Aug.
2.
32,717
183,988
278,787
645,782
83,835
70,304
85
,
Stocks
25,068
195,775
145,046
70,588
211,582
218
"
..
Ship¬
ments.
Week.
Season.
102
107,315
165,154
337,521
75,251
36,799
51,903
140,962
27,652
49,327
110,137
58,882
18,131
29,354
22„476
568,791
11,454
234,437
30,200
20,993
816,400
7,843
17,896
43,835
133,010
30
-.
Closing..
up
25
Athena
Atlanta.
■
/ft,
onrvA
Jttange
"13
Rock..
O., Cincinnati.
ay—
.
Little
Stocks
21,336
158,185
119,797
41,643
181,423
23,961
Ga., Albany—
Yazoo
I//,.,
Range
Ark., Helena-_
Vlcksburg....
;
April—
—
179
Meridian
li.17-.24 11.12-.22 11.20-.25 11.23-.37 11.10-.37
Range
Range
675
Greenwood
March—
jm
138
Montgomery
Selma
Macon
Feb,—
Range
Ala., Eufaula..
Columbus....
—•
11.06-.13 ll.00-.i0 11.08-.16 11.03-.15 11.11-.18 11.10-.28 11.00-28
11.05-.06 11.08-.10 11.11-.12 11.14-.15 11.11-.12 11.24-.25
..
Season.
Week.
'
ept.—
Range
■
11.70-.80
11.66-,67 11.71-.73
Ship¬
Receipts.
Towns,
ll.50-.6i 11.44-.60 11.57-.70 11.56-.67 11.67-.76 11.70-.85 11.44-.85
_.
Movement to August 2 1912.
1 1913.
Movement to August
11.74-.76 11.79-.80 11.80-.94 11.70-.81
..
august—
January—
Range
Closing
11.25
ll.28-.29jll.31-.32 11.38
—
11.22-.23 11.2i-.25
11.20-.28
11.33-.3i
11.14-.28 11.13-.24 11.22-.30 11.17-.28 11.23-.31 11.21-.44
11.15-.16 ll.22-.23 11.24-.25 11.25-.26 11.29-.30 U.35-.36
11.18-.29®H.24-.3111.20-.42
11.16-.32 U.14-.26 11.24-.31
11.17-.18 11.24-.25 U.25-.26 11.26-.27,11.30-.31 11.36-.37
March—
Saturday,
Monday,.
_
Tuesday,,.
Wednesday.
Thursday „.
Friday
Quiet, 10 pts. dec.. Steady
Quiet.
Very steady...:
Quiet, 15 pts. adv.. Steady.
:
Quiet, 10 pts. dec.. Very steady,..
Quiet
Steady.
Quiet...
Barely steady.
Total,.1.
...
4400
4",400
12",400
12", 420
•2,100
2,100
18,900
18,920
11.27-.38 11.26-.35 11.35-.39 11.30-.37
ll.44-.5l
Range
Closing——.. ll.26-.27 11.35-.36 11.35-.36 1I.36-.38,11.40-.41 ll.46-.47
May—
Range
11.31-.33 11.40-.41 11.40~.41 11.41-.43 11.45-.47 11.51-Afr
Closing
......
,""20
.
20
Tone—
Spot
Options
'
Quiet.
Steady.
Quiet.
„
Steady.
Quiet.
Quiet.
Quiet.
Steady,
Steady.
Steady,
Steady.
Quiet,
306
CHRONICLE
THE
COTTON
AT
closing quotations
of middling cotton at Southern and other principal cotton
markets for each day of the week.
QUOTATIONS
OTHER
MIDDLING
FOR
MARKETS.—Below
are
the
Closing Quotations for Middling Cotton on—
Week
ending
Aug. i.
SaVday*
Galveston
New Orleans^
11 15-16
12
Mobile.
Savannah..
Norfolk
Monday.
>■
12
-
11 15-16
11 15-16
11 15-16
12
11%
11A
11%
11A
12%
11%
11%
11%
12%
12$
12$
12.25
12.25
12 A
11 15-16
12
11$
12H
12 %
$
12$
12$
12$
11A
12%
ni
Philadelphia
Augusta
Memphis..
12.20
12.20
12.35
12 A
12^
12"
12 A*
12 A
12
12
n*
St. Louis...
Houston
Little Rock
12 5-16
12
12 3-16
12 3-16
12 3-16
UA
11A
11%
12
12 3-16
11A
11%
11%
70 to
11%
WEATHER REPORTS BY TELEGRAPH.—Our advices
by telegraph from the South this evening indicate that in
the past week.
Over much of the area rain has fallen and the crop is doing
the main the weather has been favorable
well.
From
Texas
we
are
advised that rain is needed
Southwestern sections, but that elsewhere in the State
in
the
condition of the crop is
good.
•
Galveston, Tex.—Light rains fell at several Southwest
Texas points on the 31st.
Rain is needed there. It would
retard the movement of cotton, of course, but be of great
benefit to the plant.
Elsewhere in the State the condition
of the crop is good.
We have had no rain the past week.
Average thermometer 83, highest 89, lowest 76. Month's
rainfall 1.46 inches.
■
..
f
-'
Abilene, Tex.—There has been light rain on two days
during the week, the rainfall being twenty-four hundredths
of an inch.
Minimum thermometer 66.
Month's rainfall
0.54 inch.
v-
•;
-V',;-.,.
;
Brenham, Tex.—There has been rain on one day of the past
week, the rainfall reaching four hundredths of an inch. The
thermometer has averaged 85, ranging from 72 to 98.
July
rainfall 1.04 inches.
Dallas, Tex.—The week's rainfall has been forty-six hun¬
an inch, on one day.
Average thermometer 86,
highest 102 and lowest 70. July rainfall 2.44 inches. .■
/; Henrietta,
Tex.—Dry all the week.
The thermometer
has averaged 86, the highest being 104 and the lowest 68.
July rainfall 0.58 inch.
.:vHuntsville, Tex.—-We have had no rain during the week.
The thermometer has averaged 84, ranging from 70 to 98.
July rainfall nil.
/
:
dredths of
,
'
KerrvilUif Tex.—We have had light.rain
on one
/
;
Columbus, Miss.—Rain has fallen on five days during the
week, the rainfall reaching one inch and twenty-five hun¬
dredths.
The thermometer has averaged 84, ranging from
12
* 12 5-16
11 15-16 11A
12
'12
Eldorado, Ark.—Rain has fallen on three days of the week,
being ninety hundredths of an inch.
The ther¬
mometer
has ranged from 70 to 97, averaging 84.
Helena, Ark.—Rain has fallen on two days of the week,
the rainfall being one inch and six hundredths.
Average
thermometer 79, highest 92, lowest 66.
Little Rock, Ark.—There has been rain on two days of the
the rainfall
96 and the lowest 70.
Baltimore
12$
xcvii.
East
the rainfall being
eight-one
an
ich. week,
The thermometer
has averaged
83,hundredths
the highest of
being
12
11 15-16
11 15-16
11 15-16
;
11^
11 %;
Fridat/.
Tuesday. Wed'day. Thursd'y.
(Vol.
day during
the week, the precipitation reaching twenty hundredths of
&h inch.
The thermometer had ranged from 60 to 98, aver¬
aging 79. Month's rainfall 0.34 inch.
*
*. Lampasas, Tex.—We have had rain on two days during the
week.
Average thermometer 85,, highest 102, lowest 68.
Month's rainfall 0.22 inch.
97.
.
Meridian, Miss.—Rain has fallen on two days during the
week, the precipitation reaching fourteen hundredths of an
inch.
Thermoneter has ranged from 70 to 92, averaging 81.
Vicksburg, Miss.—We have had rain on two days of the
week, the rainfall being twenty hundredths of an inch.
Average thermometer 81, highest 91, lowest 70.
Mobile, Ala.—Beneficial rains during the week.
The crop
is maturing nicely.
There has been rain on four days dur¬
ing the week, the rainfall being one inch and twenty-six
hundredths.
The thermometer had averaged 80, the highest
being 90 and the lowest 72.
Montgomery, Ala.—Good rains have fallen.
Rain has
fallen on four days of the week, the precipitation being
seventy-nine hundredths of an inch.
The thermometer has
averaged 81, ranging from 70 to 92.
Selma, Ala.—We have had rain on four days during the
week, the precipitation being one inch and twelve hundredths.
The thermometer has ranged from 71 to 88, averaging 80.
Augusta, Ga.—We have had rain on five days during the
week, to the extent of three inches and ninety-eight hun¬
dredths.
Average thermometer 83, highest 94, lowest 72.
Savannah, Ga.—It has rained on four days of the week,
the rainfall being one inch and eight hundredths of an inch.
The thermometer has averaged 83, the highest being 93 and
the lowest 72.
-
.
Washington, Ga.—We have had rain on four days the past
week, the rainfall being fifty-seven hundredths of an inch.
Thermometer has averaged 81, ranging from 70 to 92.
Charleston, S. C.—lt has rained on two days of the week,
the precipitation reaching thirty-six hundredths of an inch.
The thermometer has ranged from 76 to 91, averaging 83.
Greenville, S. C.—The week's rainfall has been one inch and
twenty-five hundredths on four days.
Average^ thermom¬
eter 81, highest 93 and lowest 69.
Spartanburg, S. C.—The week's rainfall has been ninety
hundredths of an inch, on four days.
The thermometer
has averaged 81, the highest being 95 and the lowest 68.
Gainesville, Fla.—Rain has fallen on two days of the week,
the precipitation reaching thirty-seven hundredths of an
inch.
The thermometer has averaged 81, ranging from
70 to 93.
•
>.:vV;V
:
y--: ■
Madison, Fla.—There has been rain on two days the past
week, the rainfall being one inch and thirty hundredths.
The thermometer has ranged from 73 to 91, averaging 82.
*
Tallahassee, Fla.—Rain has fallen on four days of the week,
the rainfall being one inch and forty-five hundredths. Aver¬
age thermometer 81, highest 92, lowest 70.
■
Dyersburg, Tenn.—There has been rain on one day of the
week, the rainfall being fifty hundredths of an inch.
The
thermometer has averaged 83, the highest being 97 and the
,
.
Longview, Tex.—It has rained
day of the week, the
on one
rainfall being fourteen hundredths of an inch.
mometer has
lowest 72.
The ther¬
averaged 86, the highest being 100 and the
July rainfall 3.50 inches.
Luling, Tex.—We have had rain on One day of the past
,
week, the rainfall being twelve hundredths of an inch.
thermometer has averaged 86, ranging from 72 to 100.
rainfall 0.24 inch.
I
^Nacogdoches, Tex.—Dry all the week.
has
ranged
from
68
to
94,
The
July
The thermometer
averaging 81.
July
rainfall
3.81 inches.
Palestine, Tex.—Dry all the week. Average thermometer
84, highest 96, lowest 72.
July rainfall 0.68 inch.
Paris, Tex.—There has been rain on two days of the past
week, the rainfall being eighty-five hundredths of an inch.
The thermometer has averaged 85, the highest being 100
and the lowest 70.
July rainfall 4.41 inches.
Sdn Antonio, Tex.—Dry all the week.
The thermometer
has averaged 85, ranging from 72 to 98.
Month's rainfall
•
0.14
inch.
Taylor, Tex.—There has been rain on one day the past
Week, the rainfall being one hundredth of an inch.
Same for
the month.
Minimum thermometer 72.
Weatherford, Tex.—We have had rain on one day during
the past week, to the extent of forty-four hundredths of an
inch.
Average thermometer 86, highest 102, lowest 70.
July rainfall, 1.60 inches.
/ Ardmore, Okla.—There has been rain on two days of the
past week, the rainfall being one inch and twenty-nine hun¬
dredths.
The thermometer has averaged 70, the highest
being 106 and the lowest 88.
Holdenville, Okla.—We have had rain on one day of the
past week, the rainfall being ninety-one hundredths of an
inch.
The thermometer has averaged 84, ranging from
67
ioi;
■
.
r
Alexandria, La.—We have had rain on three days during
to the extent of two inches and ninety-three
Average thermometer 81, highest 93, lowest 70.
New Orleans, La.—There has been rain on four
days of the
week, the rainfall being fifty-six hundredths of an inch.
The thermometer has averaged 81, the highest being 89
the past week,
hundredths.
and the lowest 73.
Shreveport, La.—It has rained
week.
an
on
three
The
inch.
days during the
•:
'
.
.
■
•'
lowest 70.
'
—
the week,
precipitation reaching sixty-seven hundredths of an inch.
Milan, Tenn.—Rain has fallen on four days of
the
The thermometer has averaged 82, ranging from 70 to 94.
Memphis, Tenn.—Rain has fallen on two days of the
the rainfall being twenty hundredths of an inch.
mometer has ranged from 72 to 94, averaging 83.
week,
The ther¬
..>
t
'
Charlotte, N. C.—Rain has fallen on,four days of the week,
the rainfall being one inch and seven hundredths.
Average
thermometer 82, highest 95, lowest 68.
•
"
Lumherton, N. C.—There has been rain on four days of the
past week, the rainfall being one inch and seventy-seven hun¬
dredths.
The thermometer has averaged 82, the highest
being 95 and the lowest 69.
~
Raleigh, N. C.—Rain has fallen on two days of the'week,
the precipitation reaching two inches.
The thermometer
has averaged 83, ranging from 70 to 96.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
1912-13.
Cotton Takings
Season
1911-12.
Week and
Week.
ir
Visible supply July 25*-,——Visible supply
Bombay receipts to July 31
Other India ship'tS to July 31_*
receipts to July 30-Other supply to July 30 *
supply
--
Week.
Season.
__
2,659,325
1,603,418
2,135,485
53",443 15,452,807
64,133 13,473,987
13,000 2,277,000
11,000 2,681,000
>
14,000
380,000
500,300
23,100
967,800
100
994,200
6,000
268,000
329,000
6,000
Alexandria
Total
Season.
2,770,943
Sept..!.,*——
American In sight to Aug. 1
2,874,276 20,113,972 2,745,768 20,948,995
Deduct—
Visible supply Aug. 1
2,581,551
—
Total takings to Aug. 1
Of which American
Of which other......._
——-
*
precipitation reached eighteen hundredths of
The thermometer has averaged 82, ranging from
70 to 95,
.
_
_
Embraces receipts in Europe
a This total embraces the total
2,581,551 2,486,830
292,725 17,532,421
174,525 13,505,921
118,200 4,026,500
2,486,830
258,938 18,462,095
192.938 14,686,395
66,000 3,775,800
from Brazil* Smyrna* West Indies,
estimated consumption by Southern mills,
2,736,000 bales in 1912-13 and 2,516,000 bales hi 1911-12—-takings not
being available—and the aggregate amounts taken by Northern and foreign
spinners, 14,796,421 bales in 1912-13 and 15.946,195 bales in 1911-*12, of
which 10,769,921 bales and 12,170,395 bales American.
.
„
•
aug. 2
1913.]
THE
CHRONICLE
INDIA COTTON MOVEMENT FROM ALL PROTS.
1912-13.
July 31.
Receipts at—
1911-12.
Since
Week.
Bombay
Sopt. 1.
Week.
11,000 2,681,000
sidered to hold small stocks of cotton.
We give the prices
for to-day below and leave those for
previous weeks of this
and last year for comparison.
1910-11.
Since
307
Since
Week.
Sept. 1.
13,000 2,277,000
Sept. 1.
1913.
11,000 2,470,000
32 * Cop
Twist.
For the Week.
from—
Great
Contl-
Britain,
nent..
Bombay—
1912-13..
1911-12..
4,000
1910-11..
•Calcutta—
d.
Japan
Great
AChina
Total.
nent.
.
1,000
1911-12.*
1910-11.
3,000
4,000
3,000
26,000
28,000
39,000
35,000
26,000
19,000
64,000
58,000
61,000
2,100
2,000
4,000
4,000
1,300
2,000
25,300
12,000
20,000
13,000
25,000
300
18,000
37,300
19,000
10,000
12,000
26,000
20,000
69,000
265,000
191,000
279,000
120,000
93,000
23,000
411,000
304,000
371,000
1,100
1,000
2,000
1,000
4,000
13,000
1911-12..
1910-11
7,000
Total.
2,000
2,000
2,000
2,000
~~3~666
China.
450,000
4,000
2,000
8,000
902,000 1,392,000
823,000 1,185,000
616,000 1,582,000
351,000
909,000
3,000
32a Cop
Twist.
Upl's
d.
s.
d.
2
10H
13
,10
@
20
10 &
.10)6
©
10%
@
10%
834 lbs. Shirt¬
Cot'n
ings,
Mta.
to
d.
d. s.
common
finest.
d.
@11 4)4
2)4®U 5
2>4@11 6
6.77 9H
6.79 9%
UpTt
d
a.
11
2
11
2
6.70 9H
6.76 10
6.69 10
@ 10 15-16
@
10&
10H
2
@11 3
1)4 @11 2
6.03
@
6.75 911-16@
10«
1)4@11 2
6.62
@ 10 13-16
2)4@11
6.86
@ 10 15-16
3
@11
3)4@11
7.07
4
7.31
July!
4
10 H
11
jJOK
@
25
@11 6
@11 6
1)4@11'5
@11 4)4
11
@
9 15-16
@10)4
1034
18
All others—
1912-13.
&
i.
a.
Mid.
finest.
June
15,000
10,000
Madras—
1912-13..
Japan
40,000
11,000
57,000
1,000
2,000
1910-11.
1
Britain.
9,000
2,000
"i"66o
1911-12..
Conti-
27
9,000
11,000
10,000
1912-13..
to
Since September 1.
Exports
1912.
Cot'n
SM fbs. Shirt¬
ings, common
1
6.61 10 1-16
0)4@11 334
6.57 10)4
7.24
@11
Aug.
@10?* 6
9 13-16
1
@
SHIPPING NEWS.—As shown
1134 6
4)4@11 5
7.37
previous page, the
exports of cotton from the United States the past week have
reached
32,023 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
on
a
Total bales.
NEW YORK—To Liverpool—July
Total all—
@11
6.63
30—Cedric,
1,006 upland,
76
1,082
Bremen—July 25—Prinz Friedrich Wilhelm, 70
70
To Rotterdam—July 26—Kursk, 50
50
To Genoa—July 24—Mendoza, 675—July
25—Ancona, 50
July 26—Principe di Piemonte, 2,000—July 28—Saronia, 269 2,994
To Naples—July 30—San Guglielmo, 300*
300
To Trieste—July 26—Martha Washington, 300
300
GALVESTON—To Bremen—July 25—Hannover, 2,716—
2,716
To Hamburg—July 30—Schwarzburg, 1,128
1,128
To Antwerp—July 31—Glenshiel, 1,265-1,265
To Barcelona—July 31—Ida, 5,260—
5,260
To Venice—July 31—Ida, 658--.-—
658
To Trieste—July 31—Ida, 100--100
TEXAS CITY—To Mexico—July 27—Barlby, 1,549—*
1,549
NEW ORLEANS—To Havre—July 29—Texas, 3,984—
3,984
To Bremen—July
26—Nitonian, 1,439
1,439
To Hamburg—July 25—Indianola, 1,242
1,242
To Barcelona—July 28—Balmes, 500—
500
To G3noa—July 26—Citta di Palermo, 1,487
1,487
To Port Barrios—Aug. 1—Marowjne, 156
;
156
SAVANNAH—To Bremen—July 26—Bunkfield, 1,577
1,577
To Hamburg—July
26—Bankfield,
644.--July
31—Queen
Amelia, 1,811
2,455
NORFOLK—To Hamburg—July 30—Ikbal, 423
423
BALTIMORE—To Liverpool—July 29—Vedamore, 73
73
To Havre—July 24—Philadelphian, 527
627
To Bremen—July 23—Rhein, 588-*
588
SAN FRANCISCO—To Japan—July 16—Mongolia, 100—100
Peruvian
1912-13.
1911-12.
1910-11..
3,000 13,000
2,000 14,000
7,000 21,000
16,100
13,000
32,100
29,000
28,000
/3.000
38,000
761,000 1,058,300 1,892,300
583,000
944,000 1,565,000
141,000 1,252,000
658, 3002,051,300
THE AGRICULTURAL DEPARTMENT'S AUGUST
REPORT.—The following statement, showing the condi¬
tion of cotton on July 25, was issued
by the Department of
Agriculture on Aug. 1:
The Crop-Reporting Board of the Bureau of
Statistics of the United
States Department of Agriculture
estimates, from the reports of the cor¬
respondents and agents of the Bureau, that the condition of the cotton
crop
on July 25 was
79.6% of a normal, as compared with 81.8% on June 25
1913. 76.5 on July 25 1912, 89.1 on July 25 1911, 75.5 on
July 25 1910 and
80.0 the average of the
past ten years July 25.,
Comparison of conditions by States follow;
June
July
-July 25
—
25
25
10-year
States—
1913.
1913.
1912.
1911.
Avge.
Virginia
,
81
81
85
102
82
North Carolina
*
77
76
80
87
80
South Carolina
75
73
75
86
79
Georgia *
76
74
68
95
80
Florida
82
85
75
95
83
Alabama
—79
79
73
\
94
79
Mississippi
77
'
82
68
86
78 *
Louisiana
79
81
76
84
77
Texas
81
86
84
86
81
Arkansas
87
86
74
94
80
Tennessee
;
90
87
71
92
82
Missouri
86
88
96
:
75
83
Oklahoma .1.
81
89
80
88
81
California 4.
100
95
99
99
,
...
...
...
....
'
....
,
To
—
——
*
—
—
——
—
-
—
■—
—
...
•
Total
—
-
—
32,023
—
_
.....
.......
*
.
■(United States
——79.6
81.8
76.5
89.1
80.0
For the purpose of comparison, the condition of the
cotton crop in the
United States monthly and the estimated
yield per acre for the past ten
years are given below:
*
.
.
Yield
Sept.
Acre.
Lbs,,
25.
74.8
2b.
Lint.
69.6
190.9
73.2
72.1
63.7
76.1
71.1
65.9
58.5
69.7
72.7
67.7
77.3
72.1
81.2
71.6
71.2
75.8
65.1
207.7
170.7
154.3
194.9
178,3
202.5
186.1
204.9
174.5
74.7
68.6
186.5
per
Years—
1912
1911
1910
-
May
June
July
25.
25.
25.
78.9
80.4
76.5
87.8
82.0
88.2
89.1
80.7
75.5
—
—
.........
.......................
1909
*
1908
1907
...
•1906
1905
.......
—
— —
—
.....*..
1904
1903
....J...
Average
!
*
81.1
74.6
71.9
79.7
70.5
81.2
72.0
83.0
75.0
84.6
77.2
83.0
74.1
73 3
77.0
82.9
74.9
79.9
88.0
91.6
77.1
79.7
80.2
80.0
Aug.
84.1
•
EGYPTIAN
COTTON CROP.—Reports
to
Messrs.
Li H. A. Schwartz & Co. of
Boston, under date of Alex¬
andria, June 28 1913, are as follows:
cable
LIVERPOOL.—By
following statement of
fromLiverpool we have the
the week's sales, stocks, &c., at that
port:'
Sales of the week—*
Of which speculators took.
Of which exporters took--.
—
Sales, American
—
Actual export
Forwarded
—
Total stock—Estimated
Of which American
Total
imports of the week--.
—
Of which American
Amount afloat
....
Of which American.-----.
Zagazig.—Temperature
small
„
has been more favorable and flowering continues
Worms are noted in nearly all districts of this
province but in
numbers.
Still
it will
be necessary to use best efforts to
prevent
damage.
Water is sufficient and in some sections
even
abundant.
JMansourah.—Weather continues favorable and
satisfactory.
Damage by
insignificant.
numerous than
Also they are much less
last year, while the fellahs show much more
eagerness to
piek the attacked leaves.
Water for irrigation is sufficient.
Kafr-elZayat.—Weather the past week has been favorable
And plants
develop
normally. Flowering has become general In Menoufieh and
Garbieh, and
In Menoufieh bolls nave
appeared here and there.
No damage has been
done up to the present
by worms, which are numerous everywhere, but
In
smaller numbers than last year.
being made.. Water is sufficient.
somewhat higher the past few
Good efforts to exterminate them
only appeared in
Water is very sufficient.
COTTON CROP CIRCULAR.—Our Annual Cotton
Crop
Review will be ready in circular form
about Friday, Sept. 5.
Parties desiring the circular in
quantities, With their business
printed thereon, should send in their orders as soon as
possible, to secure early delivery.
Spot.
Saturday.
,
as
Monday.
12:15
-
Receipts (cantars)—
,
This week
Since Sept. I-*-—-*.
600
1,000
7,456,709
7.258,528
Mid.Upl'ds
This
-To Liverpool.
To Manchester
To Continent and India.
Tcr America
Total exports
Since
Week. Sept. I.
Sales
.....
Spee.&exp.
Futures.
...
A cantar fa 99 lbs.
204,038
204,862
401,164
2,000 201,750
227,800
123.270
3,000 118,175
3,500 933,3341
Egyptian
This
opened.
Market,
Thursday.
Friday,
Good
Fair
Moderate
Moderate
Moderate
demand.
business,
demand.
demand.
demand.
6.52
6.54
6.53
6.53
6.57
6,000
1,000
10,000
8,000
1,000
7,000
1,000
7,000
7,000
Quiet
advance.
decline.
Easy
Quiet
4
1.
2,250 215,130
pts.
Prices
are
on
the basis of
920,059
1@1)4 Pfa.
pts.
July 26
Spinners are Con¬
2)4@3)4
pts. dec.
Sat.
Man.,
are
12
H
12)4
p.m.
p.m.
12 H
4
means 6 33-1 OOd.
Wed,
Tues.
12X
r
4
12 H
Thurs.
4
12)4
d.
d.
d.
d.
d.
d.
6 33
25)4 25
24
[27
26)4 27
6.33
25
23
25
14 X 07
07 X
g
26
19
Oct .-Nov.
6
10
03
05
Nov .-Dec.
6
05
25 X
■»«*«
§
,
24 X
K#'
02 X 02 X
97 X 97 X
97)4 97 X
6 05 X 98
981
6 07
99)4 99 X
6 08
00)4 00 X
6 09
01)4
10)4 03
03
10)4 03
Mar .-Apr.
Apr.-May
June July
15)4
98
00
98
00
P
08.
04
99
99
00)4
11
06)4
01)4
01)4
02 X
02
8*
01
03
02
05 X
02
04
03
05 X 04
06 X
0"
00
04
Fri*
.
to
.
met
not
12M
with
d.
r
d.
32""
23)4
14
09 X 10
04
04
04
04
05
05)4
06 X 07
08
08
09
09
10
10
m
03)4 05)4 04r»
BREADSTUFFS.
Flour has
where it has
4
6
p.m. p.m. p.m. ;p.m. p.m. p.m. p.m. p.m. p.m. p.m.
July—
July-Aug*
Aug.-Sept
Sept .-Oct.
_
^iven
.
Thus, 6 33
to
Aug 1
\m
by
advance.
Barely sfy
'
The prices ate given in pence.and lOOths.
8,500 961,320
received
2
advance.
upland, good ordinary
clause, Unless otherwise stated.
.
Friday Night, August 1 1913.
only a moderate demand as. a rule,
been unmistakably quiet.
It is apparent
pretty much everybody that buyers
are
*
Quiet
gen.
advance.
217,168
4",750 406,808
1,500 122,214
the market is
steady for yarns and quiet for shirtings.'-
1 @2
690
Steady
The prices of futures at Liverpool for each day
below.
bales weigh about 750 lbs.
MANCHESTER MARKET.—Our
report
cable to-mght from Manchester states that
advance.
1,000
Steady
——,——it
May-June
3",000 381,334
ITooo
2,000
Quiet
Quiet
Quiet
Steady
X @ 1 point 7)4 @9 pts. 1)4 pts.dec. )4@2)*pts 3@4 pts.
advance
decline.
advance.
to)4pt.adv.
advance.
P. M.
Jan .-Feb
Since
Week. Sept.
,
Wednesday.
Quiet
1@1X pts. 4@5J4 Pts. gen. 1 pt.
Market
Dec.-Jan-
7,581,978
This
Since
Week. Sept. 1.
and futures
follows:
6.59
Feb .-Mar.
Export (bales)—
37.000
27,000
12,000
39,000
10,000
doing.
d.
1910-11.
July 30.
66.000
566,000
Tuesday
Dull.
P. M.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
1911-12.
18,000
3,000
4,000
34,000
3,000
51,000
766,000
Market,
card
1912-13.
42,000
daily closing prices of
spot cotton have been
Magaga.—Temperatures have been
days and flowering is general.
Some flowers
fruiting; the wind at times being violent. Worms
small numbers and have been well taken care of.
Alexandria, Egypt,
Aug. 1.
52,000
5,000
2,000
44,000
11,000
66,000
792,000
600,000
34,000
18,000
49,000
22,000
are
have been blown off before
have
July 25.
52,000
2,000
2,000
44,000
9,000
82,000
835,000
645,000
30,000
The tone of the Liverpool market for spots
each day of the past week and the
development is generally
worms is
July 18.
32,000
2,000
1,000
30,000
4,000
44,000
8% ,000
706,000
9,000
4,000
46,000
24,000
•
„
normally.
-
July 10.
but little inclined
take hold at the present level of prices.
Their idea
cases is that the wheat crop, despite some decrease
to
most
have not been taken at their face value.
Exaggeration
damage, it is recognized, is incidental to every season.
The crop of corn and oats may yet turn out to be consider¬
ably larger than some of the present reports would seem to
indicate.
Though the corn crop, which affects oats so di¬
rectly, is now estimated in some quarters at only 2,700,000,000 bushels, against recent estimates of 3,000,000,000,
the reduction, it is contended, may yet prove to be unjusti¬
fied, and so with such estimates as 900,000,000 bushels as
the crop
of oats/ To-day prices sharply advanced in
age
of
sympathy with corn.
The total supply in and
afloat for Europe decreased last week 4,100,000 bushels.
In
France there will be a deficit in the yield.
In Italy, although
there will be a good crop in point of quantity, it will be very
disappointing as to quality, so that practically the crop will
be smaller than expected.
This fact, it is recognized in
Italy, makes large importations necessary for mixing pur¬
poses.
In Southern Australia dry weather is a drawback. In
India holders are very firm.
In Germany the prospects do
not indicate more than a medium crop.
It does not look
like more than an average yield in the United Kingdom
either.
Also, in this country there have been some indica¬
tions that the market has been oversold.
On the other hand,
the
same
week last year.
!
small.
were
The deliveries
noticeably.
on
following
;
No. 2 red.
cts_95%@96
July delivery in elevator.
98
Sept. delivery in elevator._
94%
Dec. delivery in elevator._
97%
_
Wed.
patents.
95%
96
97%
94%
97%
96%
94%
97%
95%
95%
.96%
94%
97%
94%
97%
95
'
..
.
CLOSING
-
v.
PRICES
OF WHEAT FUTURES IN
Sat.
.
July delivery in elevator.
__cts. 85%
September delivery in elevator—_ 86%
December delivery in elevator—.i. 90%
Mon.
85%
86
89%
Tues.
85%
86%
90%
—-
—_
41%
40%
43
45%
43%
-
Fri.
44%
46%
.$4 00@$4 25
Kansas straights, sacks.
5 40@
5 75
4 40 Kansas clears,
4 35 City patents
5 10 Rye flour
; 4 85 @
4 40
4 00
5 95@ S 60
3 65 @ 3 90
4 00 @ 4 75
...
Graham flour
4 60@ 4 75
_•
4 25@
3 75 @
sacks
GRAIN.
Corn, per bushel—
elevator Nominal
2
No.
Spring. No. 1.$0 99%
Spring, No. 2
97%
95%
97
Oats, per bushel, new— .
cts.
N.
N.
Steamer
Red winter, No. 2
Hard winter. No. 2.
No. 3
elevator Nominal
c.i.f. Nominal
Rye, per bushel—
68
2.
No.
State and Pennsylvania.. Nominal
48%
Barley—Malting
57 @60
47@48
46%@47%
Standards
No. 2,
No. 3
white...
-
market
prepared by us from figures collected by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years hq,ve been:
The statements of the movement of breadstuffs to
indicated below
Receipts
are
Oats.
Corn.
Wheat.
Flour.
at-
161,000
68,000
Chlcago—._
Milwaukee
.
Minneapolis
Peoria
Kansas
Omaha.
306,000
61,000
471,000
1917O00
57,000
362,000
38,000
417i,fl00
62,000
52,000
405,000
175,000
3,000
19,000
,
12,081,000
7,726,055
8,737,299
2,649,000
2,112,497
2,505,969
13,000
59,000
45,000.
..
Louis...
St.
1,798,000
143,000
20,000
61,000
1,705,000
110,000
2,931,000
1,436,000
14,000
City
r
349,000
148.000
1,160,000
160,000
37,000
14,000
38,000
231,000
171,000
265,000
472,000
Toledo
Rye.
bushUmV bu.56
3,829,000
462,000
1,068,000
299,000
Duluth
Barlt
.
bbls.\96ibs. bush. 60 ibs. bush. 56 lbs. bush. 32 lbs.
Fri.
95%@96
39%
43%
4 25@
4 10@
Wheat, per bushel—f. o. b.
--VT--
lbs.
43,000
45,000
30,000
57,000
2,000
39,000
6,000
9,000
1,166,000
192,000
170,355
22,063
185,886
61,951
137,000
163,000
■
98%
Tot.wk.'13
360,000
278,269
346,452
Same wk. '12
Same wk. '11
DAILY
.
Spring patents
Spring straights
YORK
Thurs.
40%
43%
43%
$3 10@$3 50 Spring clears
Winter straights
Winter clears
Detroit
Tues.
Man.
Sat.
Wed. Thurs.
FLOUR.
Winter
Cleveland
"
Tues.
closing quotations:
are
Winter, low grades
August contracts
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW
39%
40%
42%
...
v
.
Mon.
Sat.
July delivery in elevator
cts. 39%
September delivery in elevator—__ 40%
December delivery in elevator
42%
May delivery
The
48%
47@48
OF OATS FUTURES IN CHICAGO
DAILY CLOSING PRICES
vices from the spring-wheat section have been rather more
favorable.
Roughly, the crop is supposed to be 500,000,000
bushels of winter and 250,000,000 of spring.
To-day prices
advanced
Mon.
Sat.
The crop ad¬
The export trade has decreased.
PRICES OF OATS IN NEW YORK
Tues.
Wed.
Thurs.
Fri.
DAILY CLOSING
Standardscts_45% @46 45%@46 46%@47 46% @47 46%@47
No. 2 white—
46%
46%
47%
47%
47%
manybelieve that the crop is likely to be, despite any prob¬
able decrease in the spring-wheat section, one of the largest
on record.
One estimate puts it at 750,000,000 bushels in
all, or 20,000,000 bushels more than that of last year.
The
receipts are increasing.
Their volume has surprised even the
bears.
Stocks are beginning to pile up rapidly*
Never at
this season,"it is stated, have the Western and Southwestern
railroads moved as many cars as they are now moving.
In
a single day the movement to primary points has reached
3,100,000 bushels of wheat, or 900,000 bushels more than
on
the corresponding day of last year.
This is merely a
concrete example/
The visible supply, moreover, showed
an increase for the week of 3,692,000 bushels, as contrasted
with -an increase in the same week last year of less than
100,000 bushels.
This was certainly striking. At Chicago
alone the stock increased within a week close to 1,200,000
bushels.
xcvii.
not fully respond to the bull flurry in corn.
At times it has
been affected by a setback in wheat or hedge selling of oats
on orders from the Northwest.
Some of the reports of dam¬
in
in
the spring-wheat yield, is going to be one of the largest ever
raised, and that prices for both wheat and flour are bound,
sooner or later, to reach a considerably lower plane.
Under
the circumstances, they adhere to their policy of buying
only from hand-to-mouth.
The production last week at
Minneapolis, Duluth and Milwaukee was 374,535 barrels,
against 372,370 in the previous week, and 339,610 last year.;
Wheat has been at times distinctly subordinate to corn
as a factor in the grain markets.
It has often simply fol¬
lowed corn in its upward flight.
Yet it is true, too, that
the world's shipments last week fell off to 9,392,000 bushels,
against 10,320,000 in the previous week and 10,352,000 bush¬
els in
[Vol.
CHRONICLE
THE
308
CHICAGO
Wed. Thurs.
84% '
85%
85%
89%
89%
Fri.
3,969,000
2,029,7/5
5,068,920
Since Aug. 1
1912-13
87%
1911-12
90%
1910-11
18,222,520 281,642,966 231,090,228 254,194,668 11,508,330 17381642
12,673,144 148,364,577 197,314,060 150,543,179 61,900,520 8,255,661
15,995,791 238,484,065 376,105,035 194,327,875 63,368,467 6,233.207
.
_
.
■i
Indian
corn
has advapK^d. .sharply in response to reports
by hot, dry Weather in the Southwest^ On Tues¬
day, for example, there !Wff>S(& rise of 23^ to 3 cents at Chi¬
cago and 3M to 4 cents at the Southwestern markets.
Much
damage is reported to have been done in Kansas.
James A.
Patten is said to have been one of the grain authorities who
have been looking for higher prices by reason of the weather
conditions in the Southwest.
Some very prominent ele¬
vator interests are understood to have held opposite views
and to have acted accordingly.
Some of the reports of dam¬
age have sounded sensational, although they may yet be
shown to be justified.
The Kansas condition, for instance,
is declared by some to be only 30% of normal and pointing
to the smallest crop since 1901.
In other words, it is ex¬
of damage
pected to be not more than 100,000,000 bushels.
In 1906
195,000,000 bushels.
There has also been deteriora¬
tion in Nebraska, Oklahoma and Missouri as well as in
Illinois, Indiana, Tennessee and Kentucky.
East of the
it
was
Rocky Mountains the available supply decreased for the
week 1,874,000 bushels.
At Chicago the stock decreased
1,007,000 bushels.
On the other hand, some regard the
damage reports as exaggerated.
The tendency, too, is to
over-buy.
The "long" account is evidently large.
It is
a weather
market.
Rains which may come at any time
would be apt, it is argued, to cause a sharp decline.
The
speculation has been active and excited.
To-day prices
advanced sharply on further reports of damage.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK
Sat.
DAILY
CLOSING PRICES
OF
CORN
Sat.
July delivery in elevator
cts.
September delivery in elevator
December delivery in elevator
•
Mon.
Wed. Thurs.
Tues.
cts .Nom "."Nom. Nom.
Cash corn
FUTURES IN CHICAGO
Mon.
Wed. Thurs.
Tues.
62
62%
65%
65%
62%
59%
63%
60%
65%
62%
65%
62%
Oats have followed in the wake of
Fri.
Nom. Nom. Nom.
corn
to
a
as
the
crop
than that of last year.
,
Wheat,
bush.
888,000
576,000
—»■—
31,000
531,000
Baltimore..:...—
26,000
46,000
48,000
Flour,
Boston
^
Philadelphia
New
Orleans*....
Galveston
68%
64%
certain extent,
Oats,
Barley,
Rye,
bush.
514,000
137,000
bush.
227,000
bush.
12,000
10,000
54,000
30,000
4,000
45,000
.1,000
118,000
'
.
5,000
1,672,000
Montreal
Halifax..
Corn,
bush.
116,000
3,000
1,144,000
1,063,000
...
Mobile...
_______
.
—
55,000
33,000.
22,000
......
47,000
—'
......
142,000
514,000
16,000
.
n
303,000
5,938,000
263,000
1,393,000 369,000
60,000
Since Jan. 1 1913.12,227,000 95,379,000 42,200,000 33,101,000 142400002,053.000
Total week 1912..
343,859
1,770,862
250,647
716,874
36,975
1,013
Since Jan. 1 1912-9,532,876 63,051,564 25,125,330 26,971,7913,853,098
288.577
Total week 1913
*
on
—
Receipts do not Include
grain passing through New Orleans for foreign ports
1
through bills of lading.
The exports
■
from the several seaboard ports for the week
ending July 26 are shown in the annexed statement:
Exports from—New
York
Boston
—-
Philadelphia
Baltimore
New
Orleans
Galveston
Wheat,
Corn,
Flour,
bush.
1,012,415
589,453
201,000
472,770
286,000
370,000
bush.
69,423
8,572
bbls.
83,570
12,364
6,000
14,999
8,500
3,752
97,000
45,000
Halifax
4,183,638
Total week
Week 1912...
—1,183,849
The destination
July 1 1913 is as
378,011
245,685
77,519 239,639
.....
68,998
1912
1,473
2,233
of these exports for the week and since
Wheat
1913.
50
.146,433
....139,812
Week
July 26.
Since
Week
July 1
July 26.
1913,
bush.
bush.
268,897 2,152,194
154,091 1,976,444
8,046,011
5,091,250
bush.
8,572
63,984
67,360
82,274
20,000
1,557
bush.
126,270
207,132
186,860
260,291
120
" 2,340
654,494 4,183,638 13,301,303
558,314 1,183,849 6.282,687
223,747
783,013
89,012
252,137
104,778
123,023
660
,
July 1
1913.
bbls.
bbls.
55,333
30,882
30,057
i. 30,111
Corn
■Since
July 1
Brit. Nor. Am.
Total
26,000
below:
United Kingdom...
Continent
—
Sou. & Cent. Amer.
Total.—
21,429
1,000
223,747 146,433
89,012 139,812
July 26.
Cols.
Other Countries
' Peas,
bush.
1,473
—
......
Since
West Indies.
Barley,
bush.
bush.
15,913 213,639
24,177
16,000
Flour
Exports for week and
since July 1 to—
bush.
118,011
259,000
1,236,000
16,000
Montreal
Rye,
Oats,
"
5,000
16,000
Mobile
Fri.
of oats is also expected to be smaller
It may be something under 1,000,000,000 bushels.
Some of the trade put. it as low as 900,000,000 bushels.
There has been a brisk speculation and
a fair cash demand.
Yet it has been noticeable that oats did
especially
bbls.
164,000
31,000
Receipts at—
New York
Week
65%
62%
for
receipts of flour and grain at the seaboard ports
1913 follow:
Total
the week ended July 26
3,045
.
36,000
—
■
138,042
6,000
—
20,000
AUG. 2
The world's shipments of wheat and corn for the week
ending July 261913 and since July 11913 and 1912 are shown
in the following:
Corn.
Wheat.
Exports.
July 26.
July 1.
July 1.
July 26.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels,
164,000
302,000
56,000
10,064,000
391,000
7,615,000
468,000
2,792,000
9,950,000 7,489,000
1,560,000
10,776,000
754,000
9,392,000
41,296,000
43,511,000 8,404,000
18,450,000
5,356,000
1,672,000
2,732,000
3,344,000
9,440,000
North Amer. 5,352,000
1,200,000
Russia
88,000
796,000
Danube.--.
Argentina.
Australia
..
480,000
—
India
1,312,000
.
1912.
Since
Since
Week
Since
Since
Week
1913.
1912.
1913.
Oth. countr's
309
CHRONICLE
THE
1913.]
July
1.
Bushels.
y
257,000
1,387,000
1,743,000
24,702,000
4,013,000
22,008,000
28,089,000
27,364,000
1,343",000
.
1913——
*.
.,
quantity of wheat and corn afloat for Europe on dates
was as follows:
*
;
..
..
.
Week.
13
15
*
-
Other Europe..-
China
*
f
*
•
York to July 26—
New
Great Britain
The
•
■„
.
Africa———
Corn.
Wheal.
"
•
Mexico
United
United
'■
Bushels.
Bushels.
July 26 1913.. 20,920,000
July 19 1913.. 21,840,000
July 27 1912r_ 23,952,000
July 29 1911- 22,792,000
12,800,000
14,648,000
15,904,000
13,648,000
Kingdom.
Total.
Continent.
Kingdom.
Central America
Total.
Continent.
South America.
Bushels.
Bushels.
Bushels.
Byshels.
33,720,000 13,575,000 23,044,000 36,619,000
35,335,000
22,644,000
36,488,000 12,691,000
39,856,000 8,959,000 21,701,000 30,660,000
5,993,000 9,639,000
36,440,000 3,646,000
comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports July 26 1913 was as follows:
visible
The
of grain,
supply
New York-.
Amer.
Oats,
Oats,
bush.
busn.
bush.
bush.
bush.
419
94
281
115
937
268
5
117
5
44
159
1
250
509
1
111
635
1,188
940
865
366
142
4
47
193
170
175
Philadelphia
...
New Orleans
Galveston
Buffalo
-
....
Toledo
Detroit..
—--
"
—
Minneapolis
Kansas City.
106
90
5
68
"373
"872
"~7
"23
85
90S
21
425
17
801
70
220
1,247
6
3,218
v
129
212
2
278
232
402
540
255
792
28
14
1,786
303
205
39
281
16
81
165
ifiily
26 1913.-33,082
.29,391
1912_;18,048
Total July 29 1911—41,316
40
542
429.
260
CANADIAN GRAIN STOCKS.
Canadian
Bonded
.*
Canadian Bonded
.
Wheat. Wheat.
Corn.
Oats.
Oats.'
bush.
bush.
6
bush.
1,650
3,885
2,332
bush.
bush.
1,033
Ft.Willlam & Pt.Arthur 3,531
Other Canadian2,277
;■■■
..
Montreal
...
Total July 26 1913.
1913.
1912.
Total July 29 1911.
Total July
19
Total July 27
—
----
-
1,487
1,641
43
429
303
384
66
14
714
375
Bonded
Rye. Barley. Barley,
bush.
bush.
50
50
509
7,623
92
614
26
858
4,731
31
American-Canadian
1913.
Total July 19 1913.
Total July 27 1912.
Total July 29 1911.
Oats.
bush.
•
Rye. Baney. Barley,
bush.
bush.
bush.
375
1,487
' 43
50
509
1,996
bush.
bush.
bush.
1,429
7,817 17.641
6
7,867
542
.39,923
.37,440
.26,953
.47,334
1,429
7,823 25,508
9,674 25,508
3,642
5,549
542
425
429
521 * 2,255
303
410
....
1,436
2,328
8,S59
15,934
THE DRY GOODS
•
Oats.
bush.
.33,082
6,841
-
Total July 26
Bonded.
Bonded
.
Corn.
'
'
New
260
14
4,351
251,467
York exports since Jan. 1 has been
recent spot prices but that goods
steady, as supplies are limited.
bleached cottons, shipments have been very
bleacheries have had difficulty in meeting the
demand for spot supplies. '.There continues to be a steady,
small demand for tickings and other staple lines, store sup¬
plies of which have become very light.
Duck is reported
quiet and steady, with some of the mills beginning to seek
late business.
Spot demand for flannelettes and blankets
is good, as stocks of these goods are light and deliveries
backward.
There is little of interest to report in connection
with markets for ginghams.
Trade is quiet, with moderate
spring orders booked subject to price-making when announce¬
ments are made.
Advices from the West are optimistic,
regards
as
jobbers reporting a good trade.
with trade small. .Gray goods,
Print cloths rule steady
38H-inch standard, .are
^
quoted steady at 5c.
WOOLEN
.
.
GOODS.—The naming of prices on a lower
wear for spring by leading manufacturers has
during the week. Average reductions ranged
from 10 to 12p2C., with clothiers active buyers of the lead¬
ing staples.
While the volume of business exceeded general
expectations, it is a well-known fact that merchants are in
need of supplies;
FOREIGN DRY GOODS —Demand for linens is broad¬
a
feature
ening for near-by and futu^e^dchveries.
The fact that job¬
bers are entering the market'fC^lhe next spring season on a
more liberal scale is taken to^ihdicate that they have confi¬
dence in the future.
Prices are firm and supplies of many
Napkins, cloths and crashes have moved well.
have developed firmness, particularly
lightweights, prices for which have advanced.
The demand
is good, with business restricted by the smallness of supplies.
Cables from Calcutta report very firm markets.. Light¬
weights are quoted at 6.10c. and heavyweights at 7.65c.
lines
light.
Markets for burlaps
745
TRADE.
York, Friday Night, Aug. 1 1913.
Trading in dry goods continues satisfactory, with a steady
though moderate demand for all descriptions of seasonable
goods.
Stocks are light in all quarters, particularly in first
hands, and spot supplies are not readily obtainable. Mail
orders from out-of-town jobbers and retailers have been
plentiful and cover general lines of merchandise; also, quite
a number of buyers were present during the week, although
the extremely hot weather drove many away from the mar¬
ket temporarily.
In cotton goods, quite a satisfactory busi¬
ness is being done, the bulk of which consists of small but
frequent orders for spot and near-by delivery.
While buy¬
ers
are
showing greater interest in their forward require¬
ments, owing to the scarcity of supplies on all sides, they
are still holding their purchases down to a minimum in the
hope of lower prices later,
They are basing this hope upon
the prospect of a further drop in the price of cotton, in view
of prevailing crop conditions.
Various authorities in the
trade point out that prices for finished goods are now con¬
siderably higher than they were last year at this time,'
whereas at that time the staple was quoted at thirteen cents
and better.
There has been quite a reaction in the cotton
market, but as yet it has had no effect upon the price of
finished goods, or even upon the price of yarns.
Yarns are
reported to be in short supply for near-by requirements,
with buyers paying full prices.
The only shading of finished
Importations and Warehouse Withdrawals of
Imports Entered for Consumption for the
business
reported.
Stocks in most markets are reported
plentiful and moving slowly, while Italian and Austrian
merchants are still offering goods at concesssions to recuperate
to be
<
DryGoods
Week and Since Jan. 1.
Week Ending
July 26 1913.
Pkgs.
Value.
.
'
•
Manufactures of—
Wool..-.-
——
Cotton.
Silk
—
-
—
Flax
—
Total
1913
Total
1912
——_
—
—
Since Jan. 1 1913.
Pkgs.
Value.
211,748
142,852
16,897
81,372
43,176
55,147
75,965
$
4,007,715
22,564,190
18,773,374
11,977,756
7,051,231
6,439
1,677,787
272,557
64,374,266
7.704
2,230,694
306,309
66,516,949
Market.
693
1,916
1,311
853
—
—
Miscellaneous
1,666
S
198.963
557,569
566,655
Withdrawals Thrown Upon the
Warehouse
Manufactures of—•
Wool
2,653
consumption.:..--*-- 6,439
652,402
115,520
16,660,574
1,677,787
272,557
64,374,266
_
—
—
Miscellaneous
Total withdrawals
Entered for
2,297,985
5,666,539
2,371,172
3,485,130
2,839,748
115,625
257,342
80,474
124,799
74,162
Silk
Flax
9,277
19,485
5.797
16,789
64,172
445
803
221
578
606
—
—
Cotton
2.330,189
388,077
81,034,840
marketed 1912?L:£--10,669 2,737,321
452,318 82,708,920
Imports Entered for Warehouse During Same Period.
Total marketed 1913A—9,092
" Total
.
'
^
Manufactures
of—
Wool
-
Cotton
Silk
——
Flax
Miscellaneous
foods
les for
values
late delivery.
so far has Export
been ontrade
printiscloths
slow, and
withconvertino new
193,953
buying for fall delivery, with new business in wash
novelties rather than staple goods.
While there are instances where domestics and goods for
manufacturing purposes are offered for future delivery at
slight concessions, prices as a rule are well maintained.
It
is stated that brown sheetings and drills are obtainable for
been
7,867
Bonded
.
level for men's
SUMMARY.
Wheat. Wheat.
208
16,621
36,097
16,790
28,587
1,871
13,204
43,050
42,386
590;.
671,.
807 +
M2liiT
634
1,380
fabrics centred around
509
4,515
6,018
48,344
'
.
active, with purchases for the most part confined to near-by
and spot shipment, although there is reported to be a fair
bush.
6
6
49
Canadian
4
6,841
8,049
8,905
29
107
'7,817 17,641
9,670 17,885
3,636
1,034
8,001 11,203
1,429
1,436
2,328
Jan. 1.
3,221
1,296
$15,365,680 in 1913, against $15,997,925 in 1912.
Markets for domestic cotton goods continue moderately
backward,
3
236
Total July 27
.
:
36
Total "July 19 <1913.
V
115
495
Can^ja'nd River.
-
The value of these New
As
14
36
156
47
2
1,490
709
722
78
312
814
2,044
—6,197.
—-
late shipment a shade under
for immediate delivery are
357
18
Indianapolis.
.
1,487
43
9,751
'
\
1,458
51
Peoria
Total
1
4,041
11,841
-
St. Louis.—
On
362
154
6,147
Milwaukee-
14
55
"32
302
afloat..
Duluth
•
3
2,666
Chicago
Amer. Bonded
Rye. Barley. Barley.
bush.
bush.
Corn.
bush.
—---—
Baltimore
Amer.
Bonded
Wheat. Wheat.
— .---
Boston^-
Amer. Bonded.
Other countries
Total——
929
597
39,323
9,285
21,586
17,641
22,147
1,575
9.343
32,468
39,059
volume of
UNITED STATES GRAIN STOCKS.
Amer.
!——
Indies
West
KX*
—
———
Since
Week.
—-
-
-1912
,
Since
Jan. 1.
—
—
India——
Arabia—
M
new
goods from this port for the week ending July 26 were 6,197
packagesi valued at $479,882, their destination being to the
points specified in the table below.
.
'
mentioned
in the
opening of dress goods is still delayed, owing to the uncer¬
tainty of naming initial prices, and it is not expected that
many lines will be shown before the middle of next month,
although samples are completed and ready for the trade.
In men's wear most of the new spring lines have been priced
and show reductions greater than for several seasons past.
The new prices appear attractive and are expected to stimu¬
late a good demand.
DOMESTIC COTTON GOODS.—The exports of cotton
■»
Total...
In woolens
spring lines.
The
their loss of business during the Balkan war.
and worsteds interest centres
—
570
990
335
666
1,358
145,199
301,489
127,945
159,316
213,957
21,882
75,905
3,466,027
7,208,238
2,686,105
4,814,654
3,105,762
21,280,786
14,783
25,276
6,900
3,919
947,906
144,746
Entered for consumption
6,439
1,677,787
272,557
64.374.266
1913
1912-
.10,358
10,148
2,625,693
2,790,413
417.303
452,928
85,655.052
83.044,151
Total
—
Total imports
Total imports
————
310
THE
CHEONICLE
Sw£ /wpOmr Bwptmem.
News
Items.
election will be held Sept. 2
on
on
that
we can
recently appraised the property at $2,254,688 and $2,304,688, respectively.
V. 97, p. 128.
/
Chicago, 111 .—Alternate Plans for City-Owned Passenger
Subways—See item in our "General Investment News"
on a preceding page.
v-1:^
Des Moines, Iowa.—-Agreement for
Municipal Purchase
of Water Plant.—An agreement was reached July 30, it is
stated, at a conference in Chicago by Mayor James R. Hanna
and H. W. Byers, representing the city, and
Attorney J. H.
Fairish, General Manager C. S. Denman and President C. H.
iPayson, of the Des Moines Water CoM whereby the water
plant of this company will be sold to the city for $2,302,522.
This is the value placed on the property by the Condemnation
Board.
The city's right to condemn the property was upheld
July 14 by the U. S. Circuit Court of Appeals (V. 97", p. 188).
Gold
Hill, Ore.—New Charter and Bond
Issue Upheld
Oregon Supreme Court recently
decided that the city's new charter and $25,000 bond issue
are legal.
•Y:.'-."YYY;
We
are
advised
account for the condition you name.
respect,
we
are.
Yours very truly,
Purchase of Water PlantsAn
the question of accepting the
offer recently made by the New York & New
Jersey Water
Co. to sell its plant to the
city for the sum of $2,279,505.
Two engineers, Nicholas S. Hill Jr. and C. C. Vermeule,
that the
King County (P. O. Seattle), Wash.—Bonds Declared
by Supreme Court.—The State Supreme Court has
Valid
affirmed the ruling made July 8 by Superior Court Judge
R. B. Albertson upholding the validity of the $3,000,000
xcvii.
We have no record in this Department of
any bonds having been approved!
which were issued by a town of less than 600
inhabitants.
This condition,
if It exists, must have arisen
by a town, incorporated under Chapter 1 of
Title 22, with a population of 1,000 or
more, the population of which town,,
after incorporation, had decreased to 600 or
less, and this is the only way
With
Bayonne, N. J,—Election
[Vol.
•••
C.W.TAYLOR,
Assistant Attorney-General.
Y
'
May 6 1913.
Mr. H. R. Oris, Tax Assessor,
Qonzales, Texas.
Dear Sir—This Department is in receipt of
:
\
favor of May 3 as follows::
"A citizen of this town has recently purchased
$30,000 or $40,000 worth
of road and school bonds; he claims these
holdings are not subject to taxa¬
your
tion.
Is he correct?"
i
•
Replying thereto, beg to State that all property within this State is sub¬
ject to taxation, save and except those exemptions that are
expresslv set
out by statute.
The general exemption statute is now Article 7507 of the
Revised Statutes of 1911, which enumerates certain
property within the
State which shall be exempt from taxation.
Bonds of road districts and
school districts are not among these
exemptions, and would therefore pot
be exempt from taxation, but, on the other hand,
would be subject to taxa¬
tion.
There are cettain bonds in this
State which are exempt from taxa¬
tion, and these are what are known as railroad aid and internal
Improve¬
refunding bonds, issued in accordance with Articles 678 et
seq. of
the Revised Statutes of 1911, which bonds,
by the provisions of Article 689,
are exempt from county taxes in the
county by which they are issued, and
where issued by city or town are exempt from
city taxes levied by such city.
But the class of
bonds mentioned in this communication does no* fall
under this head, and you are therefore advised that the
party owning road'
and school bonds should render same for taxation
they are liable for. •
ment
Yours very truly,
C.W.TAYLOR,
\
•
Extra
Assistant Attorney-General.
Session
of Legislature.—On July 7 Gov. Colquitt
issued a proclamation convening the Legislature in extra¬
ordinary session July 21. The making of the biennial appro¬
priations for the maintenance of the State Government, the
enactment of a law putting into effect the amendment to the
Federal Constitution providing for the election of U. S. Sena¬
tors by direct vote of the
people, and the passage of an
amendment to the law governing the operations of the State
penitentiary system, are submitted for consideration.
v
road bonds.
V. 97, p. 188.
The higher court holds, it is
said, that while there are twenty-seven different roads and'
Constitutional Amendments Defeated.—An election held
July 19 resulted in the defeat of proposed constitutional
fifteen bridges included in the general road plan, "the pro¬
amendments prescribing qualifications for district
judges,
position submitted embraced*but one subject, a compre¬ providing that all State,
district, county and preeinct of¬
hensive system of roads in the county."
ficers shall be compensated by the payment of a fixed
salary
Lakewood, Ohio.—New Charter Adopted,—-A new "home-, and authorizing the issuance of bonds for the University of
rule charter," to go into effect Jan. 1 1914, was adopted by
Texas Agricultural and Mechanical
College, State peniten¬
the voters on July 22.
It provides, it Is said, for a mayor tiary system, also for improvement districts and the opera¬
and city council to be elected this fall, and a city manager
tion of public warehouses.Y;
;
■
<to be appointed by the council.
The manager will have
West Virginia.—Two More Legislators Convicted.—£>• U.
charge of all city departments except fire, police and health,
G. Rhodes and Dr. H. F.
Asbury, members of the West
which will be under the control of the mayor.
The Vote is
Virginia Legislature, have been convicted by a jury of having
reported as 762 "for" to 596 "against."
accepted bribes for their votes in the recent contest for
,
r
MWdletown, Ohio.—Election on Commission Form of
Government.—An election will be held Aug.
8: it is stated, to
vote on a new charter providing for a commission form of
gov¬
ernment.
,
,
;
\
■
Missouri.—Commission Government Act Declared
Void.—
In p,
decision handed down July 23 by Circuit Judge Frank P.
Divilbiss the recent law allowing cities of Missouri to adopt
United States Senator./v State
Senator Ben A.
Smith and
Delegate Rath Duff were previously convicted and are await¬
ing sentence.
See' V. 97, p. 188.
'
-V /"/■
Youngstown, Ohio.—New Charter Debated.—At a spe¬
cial election held July 22 the voters defeated a proposed
new city charter.
The vote is reported as 2,973 "for" to
5,956 "against."
:
:
:
,
the commissicti form of government was declared unconsti¬
tutional.
According to the St. Louis "Globe-Democrat,"
the matter was brought before the judge on an appeal from
Excelsior Springs, where a
petition was presented to the
Mayor, asking him to call a special election to vote upon the
adoption of the plan.
The Mayor, A. M. Bates, refused
and the suit was brought before Judge Divilbiss to
compel
the Mayor to call, the election.
Judge Divilbiss held that
the law was in conflict with'Article 9, See.
7, of the consti¬
tution, which requires that all cities of the same class shall
be subject to the same laws and have the same
powers.
"
New Jersey.—Special Session to Amend Walsh Act.—On
July 29 Acting Governor James F. Fielder, issued a proclama¬
tion convening the Legislature in special session on
Aug. 5
for the passage of certain amendments to the Walsh Com¬
mission Government Act.
amendments
is
to
settle
The purpose of these proposed
dispute which has arisen in
the
Jersey City
as to the adoption of the Act and which, as the
Governor states in his proclamation, may result in confusion
in municipal affairs not only in that city but in
othej; muni¬
cipalities where the Act has been accepted.
Texas .—Opinions by Attorney-General1 s Department.—We
print in full
below opinions rendered by C. W. Taylor, As¬
sistant Attorney-General, holding
than
that
(1) that
no
town of less
1,000 inhabitants is authorized to issue bonds
road and school bonds are subject to taxation:
and (2)
May 6 1913.
Hon, John E. Davis, Mesquite, Texas.
Dear Sir—This Department is in receipt of your favor of
May 2, in which
you ask If towns of less than 1,000 inhabitants have a right under the law
to issue bonds for water-works, &c.; you state that some bond
broker has
bought bonds this year issued by towns of less than 600 and that such bonds
were issued under Chapter 149 of the Acts of 1899.
Replying to your inquiry, beg to state that, under the provisions of the
law as it now exists, no town of less than 1,000
pupulatfon is authorized
to issue bonds.
The right to issue bonds is one that must be
expressly
granted to incorporated towns by the Legislature.
No inherent right to
Issue bonds exists in favor of any incorporated town or
city.
The tax
limit for towns of 1,000 inhabitants or over you will find set out in
Article
925 (Revised Statutes of 1911).
The authority to issue bonds you will
find set out in Article 882 (Revised
Statutes), and these two articles must
be read together.
The right to levy taxes for municipal
improvements
being found in Article 925 and the authority to issue bonds to be taken
care of by the tax
will be found in Article 882.
These two provisions re¬
late only to cities and towns
incorporated under Chapter I of Title 22 of the
Revised Statutes, which towns must have a
population of 1,000 inhabi¬
tants or more.
Towns incorporated under what is now
Chapter 14 of
Title 22 have no such authority.
The tax limits in such town is 25 cents,
and, having no authority to levy a tax for municipal
improvements, and
having no authority to levy a tax in excess of 25c.,
they, consequently,
will have no authority to issue bonds, for before bonds can
be issued there
must be a provision for a tax to
pay the interest and provide a sinking fund
sufficient to retire the bonds.
'
'
Bond Proposals and Negotiations this week
have been
as
follows:
,
„
ADA COUNTY (P. O. Boise), Idaho.—BONDSNO'j
was made on July 24 of the $200,000 10-20-yr. (ser.) ros
(V. 97, p. 65), owing to pending litigation.
LD.—No award
d bridge bonds
,
ADAMS COUNTY (P. O. Decatur), Ind.—BOND SALE.—On July 24
the $27,220 43-^ % 10-year gravel-road bonds (V. 97, p. 188) were awarded
to the Adams County Bank of Decatur at par.
The First Nat. Bank of
Decatur also bid par.
Denom. $8,160, $11,600 and $7,520..
Date July 15
1913.
Int. M. & N.
-
.
AKRON, Ohio.—BOND OFFERING.—Proposals will be received until
m. Aug. 20 by J. McCausland, City Aud., for $53,250 53^%
1-10-yf.
street-impt. bonds.
Denom. (180) $100, (350) $50, (710) $25.
DateSept. 1 1913.
Int. ann.
"
12
ALBANY,
tion held
July
Dougherty
County, Ga.—BONDS VOTED.—The elec¬
24 resulted in favor of the questions of issuing the $25,500
additional drainage and sewerage, $40,000 school-building (city's portion),
$12,500- street-paving
(city's portion), $12,000 water-main-extension,
$5,000 fire-department-apparatus-purchase and $5,000 Oakview Cemetery
improvement 5% 30-year gold bonds (V. 97, p. 188).
Denom. $1,000.
Interest semi-annual.
.
,
'
,
.
-
.
:
ALLEN COUNTY (P. O. Fort Wayne), Ind.—BOND SALE.—We are
advised by the County Treasurer under date of July 25 that the two issues
of 4J^%
10-year highway-impt. bonds aggregating $17,680, offered on
July 7 (V. 96, p. 1853), have been sold to local parties ar par and interest.
ALLIANCE,
Stark
County,
Ohio .—BOND
SALE.—The
only
bid
received for the $5,000 5% sidewalk bonds offered on July 18 (V. 97, p. 65)
was one
of par and int., submitted by the People's Bank Co. of Alliance/
BOND OFFERING.-*—Proposals will be received until 12
O. O. Silver, City
m. Aug. 16 by
Aud., for $1,300 5% 10-year public-square-imp*, bonds.
Denom. (1) $300, (2) $500.
Date July 15 1913.
Int. J. & J.
Cert, check
on a State or national bank for 3% of bonds bid for, payable to City Treas.,
required.
Purchaser to furnish blank bonds at his
AMHERST,
Lorain
County,
will be received until 12 m. Aug.
own expense.
Ohio.—BOND OFFERING.—Proposals
15 by H. Miller, Vil. Clerk, for $10,000
5% coup, street-paving (villages portion) bonds.
Auth. Sec. 3939, Gen.
Code.
Denom. $500.
Date Aug .1 1913.
Int. M. & S. at Amherst.
Due $500 each six months from Mar. 1 1915 to Sept. 1 1924 incl.
Bonds
to be delivered and paid for within 10 days fkom time of award.
Cert,
check on any Lorain Co. bank or any national bank outside of said county
for $500, payable to the Vil. Treas., required.
ARCHBOLD SCHOOL DISTRICT (P. O. Archbold), Fulton Coun¬
ty, Ohio.—BOND SALE.—On July 30 the $6,000 5% coupon building
improvement bonds (V. 97, p. 251) were awarded to the Farmers'& Mer¬
chants'Bank, Archbold, at 100.50 and interest.
Other bids were:
Security S. B. & Tr. Co.,Tol_*$6,002[People's State Bank, Archbold$6,000
*
Less $130
for attorney's fees.
ARGYLE TOWNSHIP (P. O. Argyld), Sanilac County, Mich.—
BOND OFFERING.—Proposals will be received until 10 a. m. Aug. 15
by W. J. Sefton, Clerk, for $20,000 5 % 20-year highway-impt. bonds."*
Denom. $1,000.
Date July 15 1913.
Int. ann. at the Argyle Bank, Argyle.
Cert, check for 5% of bid required.
No bonded debt.
Assess,
val. 1912, $404,750.
ARKIJO UNION HIGH SCHOOL DISTRICT. Solano County.
Cal.—BOND SALE.—^On July 21 the $70,000
bldg. bonds (V. 96, p.
1784) were awarded to R. D. Robbing of the Bank of Suisun at par and in*.
There were no other bidders.
•
.
.
,
.
Aug. 2
THE
1913.]
CHRONICLE
ARTHUR SCHOOL DISTRICT (P. O. Arthur), Ida County, Iowa.—
BOND SALE.—We are advised that the $10,000 5% 10-year bldg. bonds
(V. 96, p. 1376) were purchased on May 3 by H. C. Speer & Sons Co. of
icago at par and int.
Denom. $500.
Date May 1 1913.
Int. M. & N.
ATTLERORO, Mass.—BOND SALE.—An issue of $50,000 4%
sewer
bonds has been sold, it is stated, to the First National Bank of Attleboro
at
par.
BANGOR SCHOOL DISTRICT (P. O. Bangor), Butt® County, Cal.—
BOND ELECTION.—Reports state that an election will be held Aug. 7 to
vote on the question of issuing $3,000 school bonds.
BANNING UNION HIGH SCHOOL DISTRICT, Riverside County,
Cal.—BOND SALE.—We are advised that the $23,000 6% 1634-year
(aver.) bldg. bonds offered on July 9 have been awarded as follows: $5,000
to B. B. Wright of Riverside at 102 and int. and $18,000 to Wm. R. Staats
Co. of San Francisco at par and interest.
BARBERTON, Summit County, Ohio.—BOND SALE.—The $110,000
11-yr.
offered
(aver.) electric-light and $25,000 5H-yr. (aver.) water 5% bonds
on July 21
(V. 97, p. 189) have been sold to the Central Savings &
Trust Co. of Barberton at par.
BONDS NOT SOLD.—No bids
6% 6-yr. (aver.) Newell Sir.
received
were
on
July 28 for the $5,400
assess, bonds offered on that day (V. 97, p. 189.)
CHELAN COUNTY SCHOOL DISTRICT NO. 29, Wash.—BOND
SALE.—The County Treas. advises us under date of July 21 that the State
of
Washington has been awarded at par for 534s the $1,500 1-10-year (opt.)
bldg. bonds offered on May 24 (V. 96, p. 1436).
The bonds are dated
Aug. 1 1913.
CHEMUNG COUNTY (P. O. Elmira), N. Y.—BONDS NOT AWAR¬
DED■—We are advised by the County Treasurer that the bids received for
the $20,000 434% 5-year (average) coupon bonds offered on July 31 have
been taken under consideration.
CHESANING
(VILLAGE) UNION SCHOOL DISTRICT (P. O.
Chesaning), Saginaw County, Mich.—BOND OFFERING.—This dis¬
sale $40,000 434 % tax-free bldg. bonds.
Int. payable
at place designated by purchaser.
Due serially from 1915 to 1928.
No
bonded debt.
Assess, val. 1913, $718,915.
A. Bauer, See. Bd. of Ed.
trict is offering for
CHULA VISTA SCHOOL DISTRICT.—San
County, W. Va.—BOND OFFERING.—
Reports state that P. A. Vallandingham, Town Recorder, will receive bids
10 a. m. Aug. 12 for $12,500 6% water-works bonds.
Cert, check
for $1,000 required. *
BERKELEY, Alameda County, Cal.—BONDS NOT SOLD.—No sale
made on July 22 of the $475,000 sewer and $95,000 fire-dept. 5% 1-38(ser.) gold coup, bonds (V. 96, p. 1853).
The only bid was from Farson, Son & Co. of Chicago for $570,013.
This offer, it is said, did no
include accrued interest and was not accompanied by a certified check.
$40,000 street bonds.
CINCINNATI, Ohio.—BONDS SOLD OVER CO UN TER.—N ewspaper
dispatches dated July 29 state that during the past three weeks the City Aud¬
itor has sold $600,000 AH % bonds over the counter at par and int.
The
bonds disposed of are issues which failed to sell recently at public sale.
CLAIBORNE PARISH SCHOOL DISTRICT NO. 13 (P. O. Homer),
SALE.—The $40,000 5% 20 34-year (av.) coup. bldg. bonds
La .—BOND
offered on May 3 (V. 96, p. 1110) have been awarded to Cutter, May &
Co. of Chicago at par and int. less attorney s fees.
Denom. $500.
Int.
jinn,
BATAVIA, Genesee County, N. Y.—BOND ELECTION.—An election
will be held Aug. 7. reports state, to decide whether or not this
village shall
issue $125,000 paving bonds.
.
■
.
Diego County, Cal.—
BONDS VOTED—An election held July 22 resulted, it is reported' in favor
of issuing
BARBOURSVILLE. Cabell
until
311
in July.
Date July 1 1913.
CLEARWATER COUNTY (P. O. Orofino), Idaho.—BONDS DE¬
FEATED.—Unofficial reports indicate that the proposition to issue the
$25,080 court-house constr. bonds (V. 97, p. 66) failed to carry at the elec¬
tion July 19.
was
yr.
BEXAR COUNTY COMMON SCHOOL DISTRICT NO. 40. Tex.—
BOND SALE.—On July 10 $4,000 5% 20-40-yr. (opt.) bonds dated Apr. 10
were
purchased by the State School Fund at
par
and int.
BIDDEFORD,
York County, Me.—BOND SALE.—We are advised
the remaining $40,500 of an issue of $50,000 4% sewer
bonds (V. 96, p. 1853) were awarded to local parties at par and int.
that
on
June 28
CLEVELAND HEIGHTS, Cuyahova County, Ohio.—BOND OFFER¬
ING.—Proposals will be received until 12 m. Aug. 5 by H. H. Canfield,
Village Clerk (309 Beckman Bldg., Cleveland), for the following 5%
coupon bonds:
$11,605 Lee Road impt. (assess.) bonds.
Denom. (1) $105, (23) $500.
Due $1,105 on Oct. 1 1914, $1,000 on Oct. 1 1915, 1916, 1918,
1919, 1921 and 1922, and $1,500 on Oct. 1 1917, 1920 and 1923.
2,593 Taylor Road sewer-construction (assess.) bonds.
Denom. (1) $93,
(5) $500.
Due $93 on Oct. 1 1914 and $500 on Oct. 1 1916,1918,
1920, 1922 and 1923.
16,880 Berkshire Road impt. (assess.) bonds.
Denom. (1) $380, (33)
$500.
Due $1,380 on Oct. 1 1914, $1,500 on Oct. 1 1915, 1917,
1919,1920 and 1922, and $2,000 on Oct. 1 1916, 1918.1921 & 1923.
20,786 Kenilworth Road impt. (assess.) bonds.
Denom. (1) $286, (41)
$500.
Due $1,786 on Oct. 1 1914, $2,000 on Oct. 11916, and $2,~
000 yearly from 1918 to 1922, incl., and $2,500 on Oct. 1 1918 and
BILLERICA, Middlesex County, Mass.—BOND SALE.—This town,
we are
advised, has sold $22,000 4)4 % bonds.
BINGHAMTON, Broome County, N. Y.—BONDS NOT SOLD.—We
advised, under date of July 30, that no sale has yet been made of the
two issues of 4>^% registered tax-free bonds, aggregating $167,700, offered
on July 16 (V. 97, p. 65).
are
1923.
BLUE RIDGE INDEPENDENT SCHOOL DISTRICT, Tex.—BOND
SALE.—On July 10 this district sold to the State Permanent School Fund
at par
and int. $2,000 5% 10-40-yr. (opt.) bonds dated May 1 1913.
BOGATA
INDEPENDENT
July 10 $2,000 5%
SALE.—On
were
SCHOOL
10-40-yr.
DISTRICT,
(opt.)
Tex.—BON9
bonds dated March
15
sold to the State School Fund at par and int.
BOONE
COUNTY
(P. O. Lebanon), Ind.—BOND OFFERING.—
Reports state that proposals will be received until 10 a. m. Aug. 11 by J. A.
Flaningam, Treas., for issues of $3,920, $6,400 and $5,000 4%% highway
bonds.
-
BOSTON, Mass .—DESCRIPTION OF LOANS.—As previously stated
in the
"Chronicle," this city borrowed during June $2,750,000 in antici¬
We are now advised that these loans are described as
pation of taxes.
follows:
,
$750,000 loan bearing interest at 4% and dated July 1 1913.
Due Oct. 31
1913jf
2,000,000 loan bearing interest at 434 % and
Nov. 3
BOSTON
(P.
BONDS NOT SOLD.—No bids
on
1913.
Due
1913.
TOWNSHIP
bonds offered
dated July 14
O. Saranac),
were
July 28 (V. 97,
p.
Ionia
County,
Mich.—
$16,000 5% bridge
received for the
BRANCH HILL SPECIAL SCHOOL DISTRICT (P. O. Branch
Hill),
Clermont County, Ohio.—BOND
OFFERING.—Proposals will be re¬
ceived until 12 m. Aug. 16 by W. J. Thompson, Clerk Bd. of Ed., for
$17,OOOi 5% Site-purchase and bldg. bonds.
Auth. Sec. 7626, Gen. Code.
Denom. (32) $500, (1) $1,000.
Date Aug. 16 1913.
Int. F. & A.
Due
$500 yearly Jan. 1 from 1915 to 1946 incl. and $1,000 Jan. 1 1947.
Bonds
to be delivered and paid for within 10 days of time of award.
Cert, bank
check for 5% of bonds bid for, payable to the Clerk Bd. of Ed.,
required.
Purchaser to pay accrued int. and furnish blank bonds at his own
expense.
BRYAN
COUNTY (P. O. Durant), Okla.—BOND ELECTION.—An
election to vote on the question of issuing the $150,000 court-house and
Jail-construction bonds (V. 96, p. 1039) will be held Aug. 5, it is stated.
BRIGHTON COMMON SCHOOL DISTRICT NO. 5
(P. O. Roches¬
ter), Monroe County, N. Y.—BOND SALE.—On July 26 the two issues
of school bonds aggregating $7,900 (V. 97, p. 189) were awarded to
Myron
W. Greene of Rochester as 5Hs for $7,915 (100.189),
int., blank bonds
and
other considerations.
BRISTOL COUNTY (P. O. Taunton), Mass.—NOTE SALE.—The
$20,000 AH % 2-yr. highway and bridge notes offered July 1 (V. 07,
p. 65)
have been awarded to Blake Bros. & Co. of Boston at
par and int.
BROWN TOWNSHIP (P. O.
Brownsburg), Hendricks County,
Ind.—BOND OFFERING.—Proposals will be received until 2 p. m.
Aug. 9,
stated, by C. Pennington, Trustee, for $2,000 school-bldg. bonds.
BURBANK, Los Angeles County, Cal.—BOND SALE.—The $45,000
water-works and $18,000 electric-light 434 % bonds offered on
May 17
were awarded during July to C. L.
Brand, the First Nat. Bank and the
Farmers' State Bank at par.
Denom. $625 and $250.
Date July 1 1913.
Int. J. & J.
Due part yrly. after 1918 for 40 yrs., subject to call after
20yrs.
t is
CAIRO DRAINAGE DISTRICT
(P. O, Cairo), Alexander County,
111.—BOND SALE.—Local papers state that an issue of
$138,000 levee
impt. bonds has been purchased by the First Bank & Trust
Co., the Alex¬
ander Co. Nat. Bank and the Cairo Nat: Bank of Cairo at
par.
CALDWELL, Noble County, Ohio.—BOND SALE—On July 28 the
$6,000 6% 15.87-year (average) street-impt.
(village's portion) bonds—four
issuftr—were awarded, it is stated, to the Citizens' Nat. Bank of Caldwell
at 10o.621 H
a
basis of about 5H %•
CALEDONIA UNION
FREE
NO.
5
(P.
O.
N.J Y.—BOND SALE.—The $20,000
10H~year (average) school bonds (V. 97,
p. 65) hav,e been awarded
R. Granby & Son of
Naples, N. Y., at 100.038 +
to. Geo.
.
equip
the
new
(assess.)
impt.
bonds.
Due
part
yearly
on
6,105 Norfolk Road impt. (assess.) bonds.
Denom. (1) $165, (12) $500.
Due on Oct. 1 as follows; $605 in 1914, $500 In 1915, 1916,
1917,
1918. 1920, 1921 and 1922, and $1,000 in 1919 and 1923.
4,135 Parkdale St. impt. (assess.) bonds.
Denom. (1) $135, (8) $500.
Due on Oct. 1 as follows: $135 in 1914, $500 yearly from 1915 to
1917, Incl., and $500 yearly from 1919 to 1923, Incl.
5,000 water-works-impt. bonds.
Denom. $500.
Due $500 yearly on
Oct. 1 from 1914 to 1923, inclusive.
4,500 sewer-construction bonds.
Denom. $500.
Due $500 yearly on
Oct. 1 from 1915 to 1923, inclusive.
28,000 highway-inapt, bonds.
Denom. $1,000.
Due on Oct. 1 as follows:
$2,000 in 1914 and 1919, $3,000 yearly from 1915 to 1918, incl.,.
and $3,000 yearly from 1920 to 1923, Inclusive.
Date, "day of sale."
Int. A. & O. at office of Village Treasurer.
Certi¬
fied check on a bank, other than the one making the bid,for 10% of bonds bid
for, payable to Village Treasurer, required.
Bonds to be delivered and paid
for within 10 days from time of award.
Purchaser to pay accrued interest
'
,
CLIFTY TOWNSHIP (P. O. Newborn), Batholomew County, End.—
SALE.—The $8,406 school-bldg. bonds offered on July 19 (V. 97,
BOND
66) have been awarded, it is stated, to W. G. Irwin of Columbus
at par.
COITSVILLE TOWNSHIP SCHOOL DISTRICT (P. O. East
Youngstown), Mahoning County, Ohio.—BONDS NOT SOLD.—No bids were
received for the $8,000 5 % 634-year (av.) school bonds offered on July 25
(V. 97, p. 189).
;
'
'
COLUMBUS CITY SCHOOL DISTRICT (P. O,
BOND
E.
B.
Columbus), Ohio.—
OFFERING.—Proposals will be received until 10 a. m. Aug. 19 by
MacFadden,
Clerk-Treas.
Board
of
Education,
for
coup, school property impt. bonds.
Denom. $1,000.
Date
Int. F. & A. at the office of Clerk of Board of Education.
$80,000 5%
Aug. 19 1913;
AUTHORIZED.—On July 31 Council au¬
issue of $30,000 for schools and
$25,000 to furnish and
municipal hospital.,
COMMERCE,
held
Hunt County, Tex.—BONDS VOTED.—The election,
July 19 resulted in favor of the question of issuing the $10,000 water¬
129).
I'Vl'S,
works bonds (v. 97, p.
.
COPIAH COUNTY (P. O. Hazlehurst). Miss.—BOND OFFERING.—
Board of County Supervisors, B. Shelton, Clerk, will sell at
publie
auction on Aug. 6 $75,000 534% Road Dist. No. 2 bonds.
The
CRAWFORD COUNTY (P. O. English), Ind.—BOND OFFERING.—
Proposals will be received until 2 p. m. Aug. A by A. H. Flannigan, County
Trees., for the following 434 % highway-constr. bonds:
$8,700 Union Twp. bonds.
Denom. $435.
9,200 Sterling Twp. bonds.
Denom. $460.
A similar Issue of bonds was
reported sold to the Evansville Securities Co. of Bvansville
cm
June 2
(V. 96, p. 1644).
Aug. 5 1913.
Int. M. & N.
Due one bond of each issue each six
months from May 15 1914 to Nov. 15 1923 incl.
.
Date
CUSTER COUNTY SCHOOL DISTRICT NO. 47 (P. O.
Marsh),
MONT.—BONDS NOT YET SOLD.—We are advised that no sale hasbeen made of the $2,000 6% 4-5-yea'r (opt.) building bonds offered
without sueeess on June 25 (V. 97, p. 66).
•
yet
DALLAS COUNTY COMMON SCHOOL DISTRICT NO.
39, Tex.—
BOND SALE.—On July 10 $2,000 5% 5-40-yr. (opt.) bonds dated March
10<
were purchased by the State School Fund at
par and int
,
DAVIE COUNTY (P O Mocksville), No. Caro.—BOND SNOT SOLD.
was made of the $105,000 5%
road-impt. bonds offered on July 7
—No sale
(V;
96,
p.
1716).
.
DALLES OITY, Ore.—BOND OFFERING.—Proposals will be received
or before 12 m. Aug. 25, by E.Hostetler, City Recorder, for
$12,000 5%
20-year gold bonds.
Denom. $1,000.
Date July 1 1913.
Int. J. & J.
at the fiscal agency of the State of Oregon in N. X-. Certified check for
5% of bid required.
'
.
CARLISLE, Warren County, Iowa.—BONDS
VOTED.—Reports state
that $30,000
bonds have been voted for
a
system.
6%
10-year coupon
Beaufort), No. CarO.—BOND
SALE.
July
by A. J. Hood & Co. of Detroit
county-home
rl' pUVl6) h?ve been Purchased
102.50 and interest.
Tuscola
County,
bonds
Mich.—BONDS
offered
on
VOTED.—Reports
issuance of $11,000 water and
light-plant impt. bonds was
authorized by a vote of 167 to
54. at a recent election.
CASS
No bids
Jufy
1
No
COlUNTY (P.
were
O.
Logansport), Ind.—BONDS NOT SOLD.—
received on July 16 for the $2,340 AH % 1-10-yr. (ser.) road-
19ni3S °InteM°VNt d&7 (V' 97 * P' 129)*
bids
were
received for the
^>enom-
*117-
following two issues of 434%
offered on May 26 (V. 96!
S^'Lroadi)0^d8'.aSKTegating $13,910,
$9,280
road^bonds^ ^Denom. (18) $500
(2) $140.
Date
1-10-yr.
1509.)
p.
Date May 5 1913.
4,630 road bonds.
Denom. $231 50. Date
May 6 1913. Int. M. & N.
advised by the County Treasurer
under date of July 26 that no
has yet been made of the two
issues of
We
8a ®
DECATUR COUNTY (P. O. Greensburg), Ind.—BOND SALE.—
According to reports $13,000 Donnell road bonds have been awarded to
Reed & Thomson at par.
vPA£^G?1l'ErC?rJJNTY
(p- O.
S5,000
The
lAo
city-hall, jail and electric-light
are
gating $21,772, offered
on
July 7 (V. 97.
p.
434 % road-impt. bond*, aggre¬
66).
CENTRAL!^ Marion County, 111.—BONDS VOTED.—The question
twifS?^he$10,000
water-works bondsi (V. 97, p. 189) carried at Hie elec¬
tion held July 23.
Vote is reported
134 to
as
25.
.
Due Aug. 19
1943, subject to call beginning Aug. 19 1915.
Bonds to be delivered
Aug. 19 1913.
Bids must be unconditional.
Certified check for 2% ofv
bonds bid for, payable to the Board of Education, required.
Bids must be
made on blanks furnished by the Board.
Bonded debt, $1,214,600. '
Assessed valuation 1913, $254*937,230.
on
CfMDEN,
N.J .—BONDS
a bond
thorized
Road
1 from 1914 to 1923, inclusive.
.
See V. 97, p. 65.
SCHOOL-DISTRICT
p£leA0,^ia)' Livingston County,
5%
Oct.
p.
251).
....
9,158 Derbyshire
DELAWARE
COUNTY (P. O. Delaware), Ohio.—BOND SALE.—
$130,000 5 % 534-year (av.) flood emergency bonds offered July 14
96, p. 1853) were awarded, It is stated, to the Delaware Nat. Bank,
the Deposit Banking Co. and Hie Delaware Savings Bank of Delawareat par, each Institution taking one-third of the issue.
The
(V.
DEL PASO HEIGHTS SCHOOL DISTRICT, Sacramento
County,
Cal.—BOND OFFERING.—Proposals will be received until 10 a. m.
Aug. 4,
it is stated, by the Bd. of
Superv. (P. O. Sacramento) for $12,000 bonds.
DICKSON COUNTY (P. O. Charlotte), Tenn.—BOND SALE.—It Is
reported that the $250,000 5%
30-year road bonds offered
(V.96, p.1785) have been sold to
Chicago syndicate at
a
a
on
July
15
fraction above par.
EAST GRAND RAPIDS (P. O. Grand Rapids), Kent
County, Mich.
—BONDS VOTED.—An election held July 24 resulted, it is stated, in favor
of the question of issuing $25,000 water-works-system bonds.
EDDY INDEPENDENT SCHOOL
DISTRICT, Tex.—BOND SALE.—
The State School Fund on July 10 purchased at par and
10-40-yr. (opt.) bonds dated June 2.
EDGECOMBE
COUNTY
int.
$4,750 5%
,
(P. O. Tarboro),
No.
Oaro.—BONDH
VOTED.—Newspaper returns indicate the success of the proposition ta.
issue $100,000 road and $100,000 bridge bonds submitted to a vote
July 24,.
[Vol.
CHRONICLE
THE
312
xcvii.
P. A. Dailey et al road, Center, Mill andMonroe townships,bonds.
Date Nov. 6 1912.
Denom. $475.
2,400 John Streib et al road, Washington Twp., bonds. Date Aug. 6 1912.
Denom. $120.
(First bonds matured May 15 1913.)
1,900 S. Stainbrook et al road, Green Twp., bonds.
Denom. $95.
Date
May 15 1913.
4,400 D. Mentzer et al road, Center Twp., bonds.
Denom. $220.
Date
July 8 1913.
Int. M. & N. Due one bond of each issue each six months beginning
May 15 1914.
9,500
Tex.—BOND SALE.—
(opt.) bonds dated April 10 were purchased by the
EDNA INDEPENDENT SCHOOL DISTRICT,
$3,000
5%
5-40-yr.
State School Fund at par and int on July
10.
EFFINGHAM, Effingham County, 111.—BONDS VOTED.—Reports
a proposition to issue $5,000 sewer bonds carried at an election
held July 22 by 18 votes.
state that
(P. O. Elida), Allen County, Ohio.—
July 23 the $25,000 5% 6-yr. (av.) coup, site-purchase
impt. bonds (V. 97, p. 66) were awarded to the Lima Trust Co. or
ELIDA SCHOOL DISTRICT
BOND SALE.—On
and
Lima at
100.24 and int.
(P. O. Reader), Wetzel County,
6% high-school-bldg. bonds
Martinsville Bank, New Martinsville, at 100.50.
Denom. $1,000.
Date July 7 1913'.
Int. ann. on July 7 at the Wetzel
Co. Bank. New Martinsville.
Due in 34 yrs., subject to call after 10 yrs.
furnished the purchaser.
EUCLID, Ohio.—BOND SALE.—The sale of $86,626 bonds was ratified
by the Council on July 14, according to a Cincinnati newspaper.
Part of
the money is to be used, it is said, for the erection of an $11,000 pumping
station and the balance will be used for street improvements,
"lhe Berwald-Steward Co. of Cleve. was given a $20,000 block of bonds, the balance
being divided between Cleveland banks.
EUREKA, Lincoln County, Mont.—BOND SALE.—On July 18
6% 10-20-yr. (opt.) bonds, aggregating $7,000 (V. 97; p.
Trust Co. of St. Paul at par, int.
two issues of
wero awarded to the Northwestern
the
66),
and
blank bonds. "Other bids were:
of
proceedings, blank bonds, &c.
EVANSTON, Cook County, 111.—BONDS^NOT
YET AWARDED.—
Concerning the reports that this city recently sold $40,000 4% filtrationplant bonds at 95 and int., $20,000 to the State Nat. Bank and $20,000 to
the City Nat. Bank, Evanston (V. 97, p. 190), we are advised that the
bonds have not yet been awarded.
Sacramento County, Cal.—
(P. O. Sacramento) will, it is
reported, open bids at 10 a. m. Aug. 4 for $3,000 bonds of this district.
FARGO, Cass County, No. Dak.—BONDS NOT SOLD.-;No sale has
been made of the $30,000 6% 1-15-year (serial) paving bonds offered on
DISTRICT,
SCHOOL
FAIROAKS
of Superv.
OFFERING.—The Bd.
July 9 (V. 97, p. 66)
(P. O. West Farmington), Trumbull
Ohio.—BONDS NOT SOLD.—We learn that no bids were
July 19 for the $25,000 5% road-impt. bonds offered on that
day (V. 97, p. 130).
•
■
FARMINGTON TOWNSHIP
County,
received
on
FINDLAY, Hancock County, Ohio.—BONDS AWARDED IN PART;
5% street-improvement bonds, aggregating $21,.
97, p, 190), $10,957 was awarded as follows$9,758 West Hardin St. paving bonds to the American Nat. Bank
of
Findlay for $9,778 (100.2151 and interest.
1,198 Jeffras Ave. sewer bonds to St. Michael's Roman Catholic Aid
Society of Findlay at 101.419.
—Of the four issues of
576 44, offered on July 28 (V.
„
V
FLORENCE COUNTY
Caro.—BOND ELEC¬
election will be held Aug. 5 to submit to a
(P. O. Florence), So.
TION.—Reports state that an
question of issuing $500,000 good-roads
vote the
bonds.
FLORIDA SCHOOL TOWNSHIP (P. O. Rosedale), Parke County,
Ind.—BOND OFFERING .—Proposals will be received until Aug. 12 by
$15,000 4*4% building bonds.
from 1914 to 1918, inclusive.
H. Allbright, Trustee, for
Due $3,000 yearly Aug. 1
.
Denom. $500.
5%
Covington), Ind.—BOND OFFERING.
—Proposals will be received until 12 m. Aug. 5 by W. H. Thompson,
County Treasurer, for $15,200 4*4% Shawnee Twp. road-impt. bonds.
Denom. $760.
Date July 15 1913.
Int. M. & N.
Due $760 each six
months from May 15 1914 to Nov. 15 1923 inclusive,.
FOUNTAIN COUNTY (P. O.
FOXBOROUGH WATER SUPPLY DISTRICT (P. O.
SALE.—On July 30 $15,000 4*4% coupon
Mass.—BOND
Foxborough),
tax-free water
W. Harris & Co., Inc., of Boston at 100.61 and
Date Aug. 1 1913.
Int. F. & A. at the Old Colony
Due $1,000 yearly Aug. 1 from 1914 to 1928, incl.
bonds were awarded to N.
Denom. $1,000.
int.
Trust Co. of Boston.
FRANCESVILLE, Pulaski County, Ind.—BOND SALE.—On July 15
$5,000 5% 10-yr. Salem Twp. school-bldg.-aid bonds (V. 97, p. 66)
awardea to the Fletcher-American Nat. Bank of Indianapolis at par.
Denom. $500.
Date July 15 1913.
Int. J. & J.
,
the
were
FRANKFORT
SCHOOL
DISTRICT
(P.
O.
Frankfort), Clinton
County, Ind,—BOND SALE.—On July 15 the $85,OO0 4*4% bldg. bonds
offered without success on July 9 (V. 97, p. 130) were awarded to local
investors at par and int.
Denom. $500.
Date July 1 1913. Int. J. & J.
Due serially from 1 to 10 years.
,
SCHOOX1..DISTRICT (P. O.
Frankfort), Ross
—An election held July 24 resulted, it is
proposition to issue $7,000 building bonds, the vote
FRANKFORT
County, Ohio.—BONDS
stated, in favor of a
being 86 to 7-0.
SCHOOL'vT##NSHIP (P. O. Franklin), Johnson
County, Ind.—BOND OFFERING.—Proposals will be received until
10 a. m. Aug. 16 by G. Henderson, Trustee for $7,500 4% bldg. bonds.
Denom. (11) $500, (2) $1,000.
Date Aug. 16 1913.
Int. F. & A* Due
FRANKLIN.
one
N.
bond yrly. beginning
Aug. 16 1915.
,
,
GALLUP SCHOOL DISTRICT (P. O. Gallup), McKinley
Mex.—BOND OFFERING.—Proposals will be received until
County,
8 p. m.
Aug. 4 by the Board of Education, L. N. Cary, Clerk, for $25,000 highschool-building bonds.
Int. semi-annual.
Due in not less than 20 years
nor more than 30 years from Aug, 1 1913, subject to call after Aug. 1 1933.
Certified check or cash for $1,000 required.
GALVESTON COUNTY COMMON
DISTRICT, Butte County, Cal.—
received on July 7 for the $25,000 5%
96, p. 1854).
GRIMES COUNTY COMMON SCHOOL DISTRICTS, Tex.—BOND
SALE.—The State Permanent School Fund purchased at par and int. on
July 10 $1,500 1-20-yr. (opt.) Dist. No. 17 and $1,200 5-20-yr. (opt.)
GRIDLEY GRAMMAR SCHOOL
Dist. No. 24 5% bonds.
was
on
GEAUGA
COUNTY
(P.
July 10 the $8,000 5*4%
GIDDINGS
No. Dak.—BONDS NOT SOLD:—
$3,000 5% 10-yr.^funding and street-impt.
(V. 96, p. 1111.)
O.
Chardon),
coupon
awarded to the First Nat. Bank of
emergency
Ohio.—BOND SALE.—On
bonds (V. 97, p. 66), were
Chardon at 100.5 and int.
• •
INDEPENDENT SCHOOL DISTRICT,
fex.—BOND
School Fund purchased at par and int. $3,500
SALE.—On July 10 the State
dated Feb. 1:
DISTRICT (P. O. Glendala), L03
Angeles County, Cal.—BONDS VOTED.—The question of issuing the
$100,000 high-scnool-bldg. bonds (V. 97, p. 191) carried, it is stated, by a
vote of 750 to 191 at the election held July 22.
5% 5-40-yr. (opt.) bonds
GLENDALE
HIGH
HAMILTON, Butler County, Ohio.—BOND
will be received until
SCHOOL
Camden County, N. J.—BOND SALE.—An
30-year school bonds was awarded on May 1 to a private
Denom. $500.
Date Nov. 1 1912.
Int. M. & N.
GOLDTHWAITE INDEPENDENT SCHOOL
DISTRICT, Tex.—
BOND SALE.—On July 10 $5,000 5-40-yr. (opt.) bonds dated June 1 were
purchased by the State School Fund at par and int.
GRAHAM
INDEPENDENT
SCHOOL
DISTRICT, T ex.—BOND
SALE.—On July 10 $3,000 5% 10-20-yr. (opt.) bonds dated JdayuJ were
purchased by the State School Fund, at Par an(* int.
( offered 1
GLOUCESTER CITY,
party at par.
ggGRANT COUNTY (P. O. Marjqn), Ind.—BONDOFFEMNGs—Pro¬
posals will be received until 2 p. m. Aug. 6 by U. Z. McMurtfie, County
Treasurer, for the following 4*4% tax-free highway-impt. bonds:
$5,300 J. F. McClain et al road, Center Twp. bonds.
Date July 8 1913.
Denom. $265.
R. J. Andrews et al road, Center Twp., bonds.
Date June
Denom. $1,085.
6,200 H. H. Blinn et al road, Center Twp., bonds.
Date June
Denom. $310.
"•
7,000 G. W. People et al road, Center Twp..bonds.
Date May
Denom. $350.
5.000 J. H. Le Favour et al road,-Center Twp., bonds.
Date
1913.
Denom. $250.
•
12
m.
Aug.
OFFERING.—Proposals
19 by H. A. Grimmer, City Aud., for
f30,000
4*4%
coup, municipal
bonds.Bonds
Denom.
$500.
)ate Mar.
1 1913.
Int. M. & water-works-impt.
S.
Due Mar. 1 1928,
to be
de¬
livered and paid for
within 10 days from time of award.
Cert, check for
required.
Purch. to pay accr'd int.
bid received on July 23 for the $15,912 4*4%
1-10-year (serial) North "D" Street assessment bonds (V. 97, p. 66) was
one of par submitted by the Andrews Asphalt Paving Co.
'
HARDIN COUNTY (P. O. Kenton), Ohio.-—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 7 by E. J. Carey, County
Auditor, for $8,500 5% county jail and county office buildings repairing
bonds.
Denom. $500.
Date Aug. 1 1913.
Int. F. & A. at the County
Treasurer's office.
Due $1,000 yearly Aug. 1 from 1914 to 1920, inclusive,
and $1,500 Aug. 1 1921.
Bonds to be delivered within 15 days from date
of sale.
Certified check on one of the local banks for $500 required.
5% of bid, payable to the City Treas..
BOND SALE.—The only
HARRIETSTOWN
(TOWN)
UNION
FREE
SCHOOL DISTRICT
Franklin County, N. Y.—BOND OFFERING.—Proposals will be
13 by E. R. Young, Clerk Board of Education
NO. 1,
received until 8 p. m. Aug.
Denom. $1,000.
Date
Adirondack Nat. Bank in N. Y.
exchange.
Due $1,000 yearly Sept. 1 from 1914 to 1941, incl.
Cert, check
on a national bank or trust company for 2% of bonds bid for, payable to
(P. O.
Saranac Lake), for $28,000
Sept. 1
1913.
The
ments
5% bonds.
Int. semi-annually at the
official notice of this bond offering will be found among
'
-
elsewhere in this Department. '
3 1913.
3 1913.
6 1913.
April 8
the adverUso•
.
.
HARRIS COUNTY COMMON SCHOOL DISTRICT NO. 23, Tex.—
BOND SAlE.—On July 10 the State Permanent School Fund purchased at
and int. $2,500 5% 20-40-yr. (opt.)
par
bonds dated Apr. 19 1913.
>
HARRISON, Hamilton County, Ohio.—BOND OFF,ER/NG.—Pro¬
posals will be received until 12 m.
Aug. 23 by J. Zimmerman, Village
Clerk, for $3,500 5% Park Ave. sewer bonds.
Auth. Sees, 3939 and 3940,
General Code.
Denom. $500.
Date Oct. 1 1912.
Int. annual.
Due
$500 yearly Oct. 1 from 1919 to 1925, inclusive.
Bonds to be delivered and
paid for within 10 days from time of award.
Certified check for 5% of
bonds bid for, payable to the Village Treasurer, required.
Purchaser to
accrued interest.
HARRISON SCHOOL TOWNSHIP. Howard County, Ind.—BOND
OFFERING.—Proposals will be received until 2 p. m. Aug. 12 by F. M.
Coe, Trustee, at the Co. Superintendent's office, Kokomo', for $6,000 4*4%
bldg. bonds.
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A. Due
$1,000 yrly. Aug. 1 from 1914 to 1919 incl.
These bonds were offered
without success July 15 (V. 97, p. 191).
pay
HASKELL
COUNTY (P. O. Stigler), Okla.—BOND ELECTION.—
will be held Aug. 5 to vote qn propositions to
court-house and jail and $60,000 bridge bonds.
It is stated that an election
issue $60,000
HASTINGS-ON-HUDSON.
Westchester County, N. Y .—BOND
SALE.—On July 15 the $30,000 13M-yr. (av.) Warburton Ave. paving,
$12,000 17^-yr. (av.) park and $10,000 14-yr. (av.) sewer bonds (V.
p. 67) were awarded to Adams & Co. of N. Y. at 100.144 as 5s.
HEMPSTEAD (Town) UNION FREE SCHOOL DISTRICT NO. 24,
97,
(P. O. Valley Stream), Nassau County, N.
Proposals will be received until 7:30 p. m. Aug.
Y.—BOND OFFERING.—
6 (postponed from July 21)
Hammill, Clerk, for $24,000 5% bldg. bonds.
Denom. $1,000. Int.
semi-ann. at Bank of Rockville Centre, Rockville Centre.
Due $1,000 yrly.
on July 1 from 1918 to 1941 incl.
Cert, check for 10% of bonds bid for,
payable to Bd. of Education, required.
Bonds to be delivered and paid for
within 7 days from date of sale at above bank.
by F.
HENDERSON, Vance County, No. Car.—BOND SALE.—Reports
$50,000 (unsold portion of $100,000) 5% 40-yr. coupon street
1854) have been disposed of.
state that the
bonds (V. 96, p.
HENDERSON INDEPENDENT
SCHOOL DISTRICT, Tex.—BOND
dated Jan. 10 were
$4,000 5% 10-40-yr. (opt.) bonds
School Fund at par and int.
HOLLAND, Ottawa County, Mich.—BONDS AUTHORIZED.—An
ordinance was passed July 23, it is stated, providing for the issuance of
$10,000 drainage bonds.
V
*
•* ,
HOLLAND SCHOOL DISTRICT (P. O. Holland), Ottawa County.
Mich.—BOND OFFERING.—Proposals will be received until 4p.m. Aug. 4
by H. Geerlings, Sec. Bd. of Ed., for $50,000 434% school bonds.
Date
Aug. 1 1913.
Int. F. & A. at the City Treas. office.
Due Aug. 1 1923.
HOLMES COUNTY (P. O. Millersburg), Ohio .—BOND OFFERING.
—Proposals will be received until 1 p. m. Aug. 4 by S. V. Mast, Co. Aud.,
for $4,500 5% coup, flood-emergency bonds.
Denom. $250.
Int. M.&S.
at the Co. Treas. office.
Due $1,000 each six months from Sept. 1 1920 to
Mar. 1 1922 incl. and $500 Sept. 1 1922.
Bonds to be delivered and paid
for within 10 days from time of award.
Cert, check for 2% of amount bid
for, payable to the Co. Commrs., required.
HOLYOKE, Mass.—BOND OFFERING.—Proposals will be received
Aug. 7 by Pierre Bonvouloir, City Treasurer, for $157,000 4*4%
issue of $20,000 5%
21,700
:
July 28 (V. 97, p. 191.)
HADDON SCHOOL TOWNSHIP, Sullivan County, Ind.-*0OND
OFFERING.—Proposals will be received until 10:30 a. m. Aug. 9 by J. F.
Sproatt, Trustee (P. O. Carlisle), for $14,113 4*4% coup, school-bldg.
bonds.
Denom. (1) $1,113, (13) $1,000.
Date Aug. 1 1913.
Int. F.& A.
at the People's State Bank of Carlisle.
Due $1,000 yrly. Feb. 1 from 1915
to 1927 incl. and $1,113 Feb. 1 1928.
SALE.—On July 10
County,
.
N. J.—BONDS NOT SO£D.—
5% 30-yr. street-impt. bonds
County,
made, it is stated, of the $60,000
sold to the State
McLean
-•
.
Camden
HADDONFIELD,
No sale
SCHOOL DISTRICT NO. 7, Tex.
10 the State School Fund purchased at par and
10-20-yr. (opt.) bonds dated April 10.
GARRISON,
SALE.—On
BONDS NOT SOLD.—No bids were
int. $3,000 5%
bonds offered on May 1
Ohio.—BOND
Xenia),
O.
bldg. bonds offered on that day (V.
—BOND SALE.—On July
No sale has been made of the
(P.
the District Treasurer, required.
ty, Cal.—BONDS NOT SOLD.—No bids were received for the $18,000
16-yr. (av.) gold bldg. bonds offered on July 21 (V. 97, p. 130).
I'
COUNTY
GREENE
July 26 $9,000 5% road-improvement bonds were awarded to the Xenia
Nat. Bank, Xenia, at par and int.
Denom. $500.
Date Aug. 1 1913.
Int. F. & A. at the County Treasury.
Due $1,500 yearly Aug. 1 from
1915 to 1920, inclusive.
DISTRICT, San Bernardino Coun¬
FONT ANA HEIGHTS SCHOOL
awarded to the New
offered
C„#, Coffin of Chicago bid $7,020, less $230 for legal expanses.
Causey, Foster & Co. of Denver bid $7,150, less $680 for examination
BOND
Va.—BOND SALE.—On July 5 $20,000
were
Deposit &
Gray & Gorham, whose opinion will be
DISTRICT
SCHOOL
GREEN
W.
OFFERING.
ENOSBURG FALLS, Franklin County, Vt.—BOND
Proposals will be received until 12 m. Aug. 15 by J. A. Harvey .Village
Clerk, for $13,000 4% coup, tax-free refunding water bonds.
Denom.
$1,000.
Date Sept. 1 1913.
Int. M. & S. at the Boston Safe
Trust Co. of Boston.
Due $1,000 yearly Sept. 1 from 1918 to 1930 incl.
Bonds will be delivered on Aug. 27 and certified as to genuineness by the
Boston Safe Deposit & Trust Co., and their legality approved by Ropes,
until
gold bonds due 1914 to 1923
bonds due 1914 to 1919.
and $90,000 4*4 % gold reg. school and police
HUNTINGTON, Cabell County, W. Va .—BID REJECTED—BOND
OFFERING.—The best bid tor the two issues of 5% 30-yr. bonds, aggre¬
gating $200,000, offered on July 25, was received from A. B. Leach &
of N. Y., who offered $2,000 less than par.
This offer was rejected.
bonds will again be offered for sale at 1:30 p. m. Aug. 11.
Co.
The
f
HURON COUNTY (P. O. Norwalk), Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 18 by Jay E. Smith, Co. Aud.,
$40,000 5*4% coup: court-house bonds.
Auth. Sees. 5638 to 5642-1
incl., also an election held July 22.
Denom. $500.
Date Aug. 15 1913.
Int. F. & A. at the Co. Treas. office.
Due $1,000 each six months from
Feb. 15 1915 to Aug. 15 1934 incl.
Bonds to be delivered and paid for
within 10 days from date of award.
An unconditional certified check on a
bank other than the one making the bid, for 5 %lof the gross amount of bonds
bid for, payable to the Co. Treas,, required.
for
IDLEWOOD, Cuyahoga County, Ohio.—BOND SALE.—The eleven
of 5% 3>£-year (aver.) sewer-main-constr. assess, bonds aggregating
issues
Aug. 2
1913.]
THE
CHRONICLE
$50,028 74, offered on July 8 (Y. 96, p. 1718) have been awarded to
bank at par and int.
IRONTON,
a
local
sale has been made of $30,000 1-15-yr. (ser.)
coupon water and sewer bonds
at not
exceeding 6% int. offered
1913.
Int.
on
July 21.
Denom. $100.
Date July 1
semi-ann.
ITASCA COUNTY
Gratiot
County,
will be received until 7:30 p. m.
$15,000 6%
paving
Mich.—BOND OFFERING.—Proposals
Aug. 12 by M. A. Nelson, Vil. Clerk, for
bonds.
assess,
Denom.
$500.
Date
Sept.
1
1913.
Int. M. & S. at the Commercial Nat. Bank. Ithaca.
Due $3,000 in 1914
and $4,000 in 1915, 1916 and 1917.
Cert, check for 3% of bid required.
JACKSON SCHOOL TOWNSHIP (P. O.
Connersville), Ind.—BOND
OFFERING.—Bids will be received, it is stated, until 2
p.m. Aug 16, by P. L.
Myer, Trustee, for $3,720 5% school house bonds.
JACKSON
TOWNSHIP,
Huntington
County,
Ind.—WARRANT
OFFERING.—Proposals will be received, it is stated, until 8 p. m. Aug. 5
by E. P. Smith, Trustee (P. O. Roanoke), for $5,000 warrants.
JAMESTOWN, Chautauqua County, N. Y.—BOND ELECTION.—
An election
will
be held Aug. 9, it is stated, to vote
the question of
on
issuing $40,000 electric-light-plant-improvement bonds.
JAMESTOWN UNION FREE SCHOOL DISTRICT (P. O. James¬
town), Chautauqua County, N. Y.—BOND SALE.—On July 18 the
$109,000 5% reg. school bonds (V. 97, p. 131) were awarded to Adams &
Co. of N. Y. for $109,025 (100.022), int. and blank bonds.
There were no
other bidders.
JEFFERSON COUNTY (P. O. Boulder), Mont.—BOND SALE.—On
July 22 the $10,000 5% 10-15-year (opt.) county poor-farm dormitory
building bonds (Y. 97, p. 191) were awarded to the Whitehall State Bank
of Whitehall at par and attorney's fees.
Other bids were:
Keeler Bros., Denver, $10,100, less $400 for attorneys fees.
Causey, Poster & Co., Denver, $10,C00, less $288 for attorney's fees.
Denomination $500.
Int. M. & S.
bank other than the
a
Purchaser to
one
pay
making the bid,for 10% of amount bid for,
accrued interest.
,
LOCKPORT, Niagara County, N. Y.—BOND SALE.—On
July 29
$100,000 5% 8M-year (average) sch9ol-impt. and equipment bonds
(V. 97, p. 253) were awarded to Adams & Co. of N. Y. at 100.14 and int.
Farson, Son & Co. of N. Y. bid 100.137.
the
SCHOOL
DISTRICT NO. 1, Minn.—BOND OF¬
FERING.—Proposals will be received until 3 p. m. Aug. 11 by J. D. Doran,
Dist. Clerk (P. O. Grand Rapids), for $40,000
5% 15-yr. high-school-bldg.
bonds.
Denom. $1,000.
Date Oct. 1 1913.
Int. semi-ann.
Cert, bank
check for $1,000, payable to the Dist. Treas.,
required.
ITHACA,
on
required.
Crow Wing County, Minn.—BONDS NOT SOLD.—No
313
LOGANSPORT,
$60,000 4M %
Cass
County,
Ind.—BOND
SALE.—On
filtration-plant-bldg. bonds dated Sept. 11913
were
July 29
awarded,
it is stated, to Breed, Elliott & Harrison of Cincinnati at 100.029
+.
LORAIN COUNTY (P. O. Elyria), Ohio.—BOND SALE.—On
July 31
9 1-6-year (av.) road-impt. bonds (V. 97, p. 131) were
awarded, it is stated, to Otis & Co. of Cleveland at par and int.
the $180,000 5%
LOVELAND,
bids
were
Clermont
County,
Ohio .—BONDS NOT SOLD.—No
received, it is stated, for $3,000 flood-emergency bonds offered
July 22.
LOWELL, Mass.—BOND OFFERING.—Newspaper dispatches state
proposals will be received until 10 a. m. Aug. 8 for $75,0004H %
that
water
bonds.
-
LOYELL DRAINAGE DISTRICT, Big Horn
County, Wyo.—BOND
OFFERING.—Proposals will be received until 1p.m. Aug. 5 by S. Cotner
Jr., Sec. of Dist. Commissioners (P. O. Lovell), for $45,000 bonds.
LYKENS TOWNSHIP (P. O. Chatfield), Crawford
County, Ohio.—
BOND
OFFERING.—Proposals will be received until 12 m. Aug. 16 by
W. H. Ditty, Twp. Clerk, for $14,000 5% coup, road-impt. bonds.
Auth.
Sec. 6976 et seq., Gen. Code.
Denom. $500.
Int. A. & O. at the Twp.
Treas. office.
Due $500 each six months from
April 1 1917 to Oct. 1 1930
Bonds will be issued and delivered Oct. 1 1913.
incl.
Purchaser to pay accrued int.
success on June 26 (V. 97; p. 68).
required.
out
A
These bonds
deposit of $200
offered with¬
were
MAHONING COUNTY (P. O. Youngstown). Ohio.—BOND SALE.—
On July 28 the $18,000 5% 8J^-year (average) bridge bonds (V. 97,
p. 191)
were awarded to Weil, Roth & Co. of Cincinnati at 100.261 +.
Other bids
were:
N.W.Halsey & Co.,Chic_*$18,095 00 Spitzer, Rorick & Co., Tol-.$18,000
18,046 80 Otis & Co., Cleveland
18,000
18,001 80
Central Tr. & S. D., Co,_
Prov. S. B. & Tr. Co.,Cin.
*
*
This bid appears higher than that of the purchaser's, but is so
JEFFERSON COUNTY (P. O.
Steubenville), Ohio.—BOND OFFER¬
ING.—Proposals will be received until 12 m. Aug. 16 by the Road Commis¬
the
sioners for $35,000 5% coup. Caoxton's Run free
turnpike bonds.
Auth.
Sees. 7283 and 7284, Gen. Code.
Denom. $500.
Date Aug. 15 1913.
Int. P. & A. at office of County Treas.
Due $500 each six months from
MALTA, Valley County, Mont.—BOND OFFERINGS.—Proposals will
be received until 2 p. m. Sept. 6 by H. M. Kirton, Town Clerk, for $4,000
Oct. 1 1914 to Apr. 1 1924 incl., $1,000 on Oct. 1 and $500 on
Apr. 1 from
Oct. 1 1924 to Oct. 1 1934 incl., $1,000 each six months from
Apr. 1 1935 to
Oct. 1 1937 incl. and $1,500 on Apr. 1 and Oct. 1 1938.
Cert, check for
exceeding 6% int.
5% of bid, payable to Road Commissioners, required.
Bonds to be de¬
livered and paid for in Steubenville on or before Aug. 30.
of holder.
May 24 have been
awarded to the Merchants' Bank of Port Townsend at
100.333+ for 6s.
Denom. $100.
Int. annual at the County Treas. office.
Bonded debt,
this issue.
No floating debt,.
Assess, val. $88,109.
JETMORE, Horgeman County, Kans.—BOND OFFERING.—This
city will sell at private sale the $10,000 5% 10-20-yr. (opt.) water and
light bonds authorized by vote of 84 to 55 at the election held June 7
(V. 96, p. 1786.)
'
•
KEEN CAMP SCHOOL DISTRICT, Riverside
County, Cal.—BONDS
NOT SOLD.—No bids were received for the $2,500
6%
bldg. bonds offered
on
6-year
(aver.)
July 21.
elsewhere
$76,000
have
warrants
been
sold
at
KNOX SCHOOL
TOWNSHIP, Jay County, Ind.—BOND SALE.—
On July 24 the $4,500 5% 5-yr. (av.) school bonds
(V. 97, p. 67) were
awarded, it is stated, to the Bank of Redkey at 100.60.
LAKE COUNTY (P. O. Crown Point), Ind.-—BOND
SALE.—Reports
an issue of $100,000
4>£ % bridgejbonds was recently awarded to
state that
the First Nat. Bank at par.
LA SALLE-PERU TOWNSHIP SCHOOL DISTRICT
(P. O. La Salle)
La Salle County, 111:—BOND OFFERING.—The
$25,000
bldg.
impt.
LATIMER COUNTY (P. O.
Wilburton), Okla.—BOND ELECTION.
—Reports state that the question of issuing $30,000 court-house and jail
bonds will be voted upon on
Aug. 5.
SCHOOL
DISTRICT
(P.
O.
Latrobe),
County,
Westmoreland
Pa .—BONDS NOT TO BE RE-OFFERED THIS YEAR.—The
President of the District advises us that the
$50,000 4M % tax-free building
bonds, offered without success on June 20 (V. 97,
p. 67), will not be offered
again until about Jan. 1 1914, at which time the entire issue of
$115,000,
of which these bonds are
part, will probably be offered.
,
LAWRENCE, Douglas County, Kan.—BONDS VOTED.—The
sition to issue the $200,000
a
recent
election.
-
LAWRENCE, Nassau County, N. Y.—BOND SALE.—On July 21
the $36,000 10H-year
(average) registered gold street-impt. bonds (V. 97,
p. 191) were awarded to Harris,
Forbes & Co. of N. Y. at 100.082 and int.
for 5s.
LAWRENCE
COUNTY
(P. O. Lawrenceburg), Tenn.—BONDS
recently authorized the issuance of
10-15-year (opt.) school-bldg. bonds, it is stated.
A similar
issue of bonds was awarded to John
Nuveen & Co. of Chicago on Apr. 8
at par (V. 96, p.
1247).
LEFLORE COUNTY (P. O.
Poteau), Okla.—BOND ELECTION.—
nAnT
a.7ote
J5® taken, it is stated, on the question of issuing
$75,000
^1 ¥*77"^k0 County Court
$15,000
5%
LAKE SCHOOL
County, Tex.—BONDS
authorized the
issuance
bonds.
DISTRICT
(P.
VOTED.—According
of $6,000
L.E01H£'A£?r,?en1 County, N.
,
O.
„
MARKET.—We
are
J .—BONDS VOTED.—The
advised
withdrawn from the market.
LICKING
COUNTY
(P.
O.
Lake),
Donley
building bonds.
LIBERTY COUNTY (P. O. Liberty),
(opt.) road district bonds offered
Lelia
to reports, the voters recently
the advertisements
,
,
(
MANSFIELD, Richland County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 m. Aug. 19 by K. P. Troll, City Aud., for
$4,800 (city's share) and $8,800 (assess.) Helen Ave. inpt., $4,800 (city's
share) and $2,800 (assess.) Orange St. impt., $3,800 Park Ave. West stormwater-sewer-constr. (city's share), $1,200 Daisy St. impt.
(assess.), $2,600
Orchard St. (assess.) and $1,150 Lilly St. impt. (assess.)
5,% bonds.
The
bonds
are
due in from 1 to 3 yrs. and st.-impt. bonds in from
1 to 5 yrs., each series beginning Sept. 1 19l4.
The Park Ave. West stormwater-sewer bonds are due as follows on Sept. 1: $800 in
1914,1915 and 1916
and $700 in 1917 and
made
on
1918.
Cert, check
on
a
Mansfield bank for 10% of
for, payable to "City of Mansfield," required.
Bids must be
blank forms furnished by the City Aud. and must be unconditional.
MARION COUNTY (P. O. Indianapolis), Ind.—BOND OFFERING.
—Proposals will be received until 10 a. m. Sept. 15 by W. T. Patten, Co.
Aud., for $100,000 3K% bridge bonds.
Denom. (100) $500, (50) $1,000.
Date Sept. 15 1913.
Int. semi-ann. at the Indiana Nat. Bank at Indianap¬
olis.
Due $25,000 yrly. Sept. 1 from 1914 to 1917 incl.
Cert, check for
3% of bonds bid for, payable to the Bd. of Comrnrs., required.
?
„
MARION COUNTY (P. O.
Marion), Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 18 by the Bd. of Free Turnpike
Commrs., care of Conley & Johnson, attorneys, for $12,500 6% coup.'
Brooks Free Turnpike road bonds.
Auth. Sec. 7283, Gen. Code.
Denom.
$500.
Date Sept. 1 1913.
Int. M. & S. at the Co. Treas. office.
Due
$1,000 Mar. 1 and Sept. 1
1914 and $1,500 each six months from Mar. 1
1915 to Mar. 11918 incl.
Bonds to be delivered Sept. 1 1913.
Cert, check
bank in Marion Co. for $100, payable to the Bd. of Rd.
Commrs.,
on
required.
MARLBOROUGH,
$300,000 5% 10-40-year
(V. 96, p. 1316) have been
Newark),
Ohio.
on
July 12 for the $13,500
that day (V. 96, p. 1855).
a
rejected the onlytemporary loan of $20,000 offered July 26.
MARQUETTE,
Marquette County, Mich.—BOND OFFERING.—
Proposals will be received until 8p.m. Aug. 4 by P. Primeau, City Comp..
$45,000 4K % coup, tax-free city-hall refunding bonds.
Denom.
$1,000.
Date Aug. .15 1913.
Int. F. & A. at the City Treas. office.
Due $5,000 yearly Aug. 15 from 1914 to 1922 incl.
No deposit required.
Bonded debt $331,000.
Assess, val. 1913, $11,054,107.
MARTIN SCHOOL DISTRICT (P. O. Canton), Fulton
for
County,
111.—NO BONDS VOTED.—The Sec. Bd. of Ed. advises us that the re¬
on June 14 to issue $1,500 bldg. bonds
ports stating that this district voted
(V. 96,
p.
1855)
are erroneous.
MARTIN SCHOOL DISTRICT (P. O.
Martin)» Bennett County,
So. Dak.—BONDS VOTED.—Reports state that the voters of this district
recently authorized the issuance of $2,500 building bonds.
MASSACHUSETTS.—TEMPORARY
dated Aug.
1
say
LOAN.—Newspaper
dispatches
that State Treasurer Stevens has borrowed $500,000 in
anticipation of taxes, making the total amount borrowed this year to date
$2,000,000.
MATAGORDA COUNTY COMMON SCHOOL
DISTRICTS, Tex.—
BOND SALE.—The State School Fund on July 10 purchased at
par and int.
$2,000 5% 10-20-yr. (opt.) Dist. No. 2 bonds dated April 15 and $2,000
5% 10-20-yr. (opt.) Dist. No. 14 bonds dated March 14.
int.
the
May 6
received onr
All bidders offered accrued interest in addition to their bid.
Denom. $1,200.
Date June 2 1913Int. J. & D. at the Winthrop
Nat. Bank of Boston.
Due $1,200 yearly June 2 from 1914 to 1923 incl.
BIDS REJECTED.—Reports state that the Treasurer
Tex.—BONDS WITHDRAWN
that
system
were
Middlesex
County, Mass.—NOTE SALE.—On
July 29 $12,000 4H % coup, tax-free street notes were awarded to the Marl¬
borough Sav. Bank, Marlborough, at 101.22 and int.
Other bids Were
W. L. Raymond & Co., Bos._100.84 Adams & Co., Boston
100.33
Blodget & Co., Boston
100.68 Estabrook & Co., Boston
100.21
Curtis & Sanger, Boston
100.66 N, W. Harris & Co.. Inc., Bos.l00:02
the
sewer
.v
BONDS NOT SOLD.—No bids
5% Brooks Free Turnpike bonds offered
question of
carried on
$23,000 bondsgfor thejpurchase of the
July 31, it is stated, by a vote of 96 to 13.
issuing
FROM
among
Merrill, Oldham & Co., Bost_98.819| Blodget & Co., Boston
98.347
E. H. Rollins & Sons, Boston.98.577 |N. W. Harris & Co., Inc., Bos.97.69
Denom. $1,000.
Date Julyl
1913.
Int. J. & J.
Due $5,000 yearly
from 1914 to 1933 incl.
.
:
bid received for
LAWRENCE, Essex County, Mass .—NOTE SALE.—An issue of
$100,000 tax notes dated July 9 and due Nov. 20 was awarded
during
July to Blake Bros, of Boston.
court-house and jail
not
$100,000 4% bridge-constr. bonds were awarded to the New Hampshire
Fire Ins. Co. of Manchester at 99.010.
Other bids were:
:
propo¬
bridge-qonstr. bonds carried, it is stated, at
-
LELIA
at
& J. at
on some
bonds (V. 96, p. 1787) are being offered for sale as 4s at either
the La Salle
Nat. Bank or the La Salle State Bank, La Salle.
LATROBE
bonds
Int. J.
in this Department.
bonds bid
Klamath County, Ore.—WARRANT SALE.—
(opt.)
1914.
Bank, N. Y., at option
MANCHESTER, Hillsboro County, N.'H.—BOND SALE.—On July 29
KINGSVILLE INDEPENDENT SCHOOL DISTRICT, Tex.—BOND
SALE.—On July 10 the State School Fund purchased at par and int. $5,000
5% 10-20-yr. (opt.) bonds dated May 1. ;
KLAMATH FALLS,
at the Hanover Nat.
given by
Cert, check for $500, payable to the Town Treasurer, required.
sewer assess,
A Portland newspaper states that
100.507 + and accrued interest.
or
15-20-year
Date Jan. 1
Official notice of this bond offering will be found
.
KIRKMAN CONSOLIDATED INDEPENDENT SCHOOL DISTRICT
(P. O. Kirkman), Shelby County, Iowa.—BOND OFFERING.—Pro¬
posals will be received until Aug. 9 by E. B. Tucker, Sec., for $13,000
5%
5-10-year (opt.) building bonds.
Denom. $500.
water-system
Denom. $1,000.
the Town Treasurer's office
KERN COUNTY (P. O.
Bakersfield), Cal.—BONDS VOTED—The
proposition to issue the $2,500,000 5 % 25-yr. highway impt, bonds (V. 97,
67) carried, reports state, by a vote of 2,529 to 693 at the election held
6
Julj
"y 8. It is further stated that the bonds will be placed on sale by early fall.
p.
and $33,000
sewer-system
JEFFERSON
COUNTY SCHOOL DISTRICT NO.
17, Wash.—
BOND SALE.—We are advised by the County Treas. under date of
July 21
that the $1,500 1-5-year gold coup. bldg. bonds offered on
County Auditor
MELROSE, Middlesex County, Mass.—NOTE SALE.—On July 29
$25,000 4^% 5>£-year (aver.) coup, tax-free Main St. impt. notes
(V. 97, p. 254) were awarded to Curtis & Sanger of Boston at 100.81 and
Other bids
were:
Blodget & Co., Boston
100.78 [Estabrook & Co., Boston
100.09
100.33 I Merrill, Oldham & Co., Bos.100.039
MIAMI COUNTY (P. O. Troy), Ohio.—BONDS A WARDED IN PART.
—Of the $40,000 bridge and $10,000 road 5% bonds offered on
July 17, the
bridge bonds were awarded to the First Nat. Bank of West Milton for $40.021 50 (100.053) and interest.
Adams & Co., Boston
The above bonds
_LILLINGTON, Harnett County, No. Caro.—BONDS
NOT SOLD.—
advised by the rown
Treasurer, under date of July 31, that no sale
has yet been made of the
$25,000 6%
We
are
erage
bonds offered
Date Aug. 1 1913.
on
30-year coupon water-works and sew¬
July 15 (V. 96, p.
1787).
Denom. $1,000 or to suit.
Int. F. & A.
•
LISBON, Columbiana County, Ohio.—BOND
OFFERING:— Proberecelved untu 12 m.
Aug. 23 by H. E. Marsden. Clerk, for
•2.000 5% refunding bonds.
Auth. Sec. 3916,
Gen..Code.
Date July 1
1913.
Int. MKtul.
Due $1,000 July 1 1934
and 1935.
Certified check
sold
on
originally amounted to $110,000 and were to have been
July 14 (V. 97, p. 68), but the issue was reduced to $50,000 and date
to July 17.
of offering changed
MIDDLETOWN, Butler County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 m. Aug. 15 by W. Gibbins, City Aud., for
$1,786 10 5% sewer (assess.) bonds.
Auth. Sec. 3812 and 3814 Gen. Code.
Denom,. $178 61.
Date June 1 1913.
Int. J. Sc D, at Nat. Park Bank,
N. Y. 1 Dqe $178 61 yearly from 1914 to 1923 incl.
Cert, check for $150
required.
Bonds to be delivered and paid for within 10 days from time
of award.
'
'
■*
!
BOND
July 25 the $40,000 5%
SALE,—On
21 H-year (aver.)
impt. (city's portion) bonds (V. 97, p. 68) were awarded
German Bank of Cincinnati for $40,225—making the price
bidders
were:
were
'
"
Cin__$40.204|A. E. Aub & Co., Cin
Fund at par and int.
sold to the State Permanent School
MILLERSBURQ SCHOOL DISTRICT (P. O.
No. 64"
street-
DISTRICT
(P.
O.
OAKLAND, Cal.—BOND
Millersburg), Dauphin
12
MILTON UNION FREE
SCHOOL DISTRICT NO. 1 (P. O.
Spa), Saratoga County, N. Y.—BOND
4H% 1-31-year (ser.) school bonds (Y.
Forbes & Co. of N. Y. at par and int.
Official notice of this bond offering
Harris,
MILWAUKEE, Wis.—BOND SALE— The three issues of 4H % 1-20-yr.
(ser.) coup, tax-free bonds, aggregating $475,000, offered without success
June 12, were awarded on July 1 to city depositories at par and int.
Newspaper reports stated that two of the above issues, $300,000 sewer and
$75,000 bath bonds, were to have been offered on July 12 (V. 97, p. 68),
but this, it appears, was not correct.
to
INDEPENDENT SCHOOL DISTRICT, Tex.—BOND
10-40-yr. (opt.) bonds dated April 1 were
School Fund at par and int.
MINNEAPOLIS, Minn.—DESCRIPTION OF BONDS.—We learn that
the $25,000 fire-dept. bonds awarded on July 17 to the Minneapolis Fire
Dept. Relief Association at 95 and int. (V. 97, p. 254) carry 4% int.
De¬
nomination $1,000.
Date June 1 1913.
Int. J. &D.. Due June 1 1923.
COUNTER.
the counter
certificates in lots of $100 and up.
MISSISSIPPI LEVEE DISTRICT (P. O. Greenville), Miss.—BOND
OFFERING.—L. P. Smith, Sec.-Treas. Bd. of Levee Commissioners, is
offering at 97.50 $500,000 of an issue of $1,000,000 5 % 40-year coup, taxfree levee-constr. bonds offered without success on July 1 (Y. 97, p. 132).
$100,000 5% educational
MISSOULA SCHOOL DISTRICT (P. O. Missoula), Mont.— BOND
ELECTION.—On Aug. 6 an election will be held, it is stated, to decide
whether or not $25,000 building bonds shall be issued.
*
OFFERING.—Further details
30-yr.
at hand relative to the offering on Aug. 20 of the $150,000 5%
school bonds (V. 97, p. 192).
Proposals for these bonds will be received
m. on
that day by L. Schwarz,
Cert, check for 1%
Int. semi-
Mayor. Denom. $1,000.
of bonds bid for required.
MONROE COUNTY (P. O. Bloomington), Ind.—BONDSAWARDED
IN PART.—On July 29 $6,850 of the two issues of 4K % road impt. bonds,
aggregating $12,350 (V. 97, p.
it
is
stated.
254), were awarded to Felix Dunn at par,
1
•
MONTGOMERY COUNTY (P. O. Rockville), Md.—BOND SALE.—
On July 29 the $25,000 4H% 1-25-yr. (ser.) coup, tax-free road bonds
(V. 97, p. 132) were awarded to Townsend Scott & Son of Baltimore at
95.59 and int.
V
,
,
MONTGOMERY COUNTY (P. O. ConroeL Tex.—BONDS
recently voted in favor of the issuance of $250,000
No. 2 bonds.
■
. ,
This county
MONTPELIER CONSOLIDATED
VOTED.—
Road Dist.
SCHOOL DISTRICT (P. O. West
Point), Clay County, Miss.—BOND SALE.—The $5,000 6% 20-year
coup. bldg. bonds offered on July 9 (V. 96, p. 1787) have been awarded to
C. H. Coffin of Chicago at 100.20.
The bonds are dated July 1 1913.
MORGAN
COUNTY
July 24 the $20,000
On
awarded to the First Nat.
(P. O. Martinsville), Ind.—BOND SALE.—
highway-impt. bonds (V. 97, p. 192)were
Bank of Martinsville, it is stated, at par.
'
MORGAN PARK, Cook County, 111.—BONDS VOTED—An election
resulted, it is stated, in a vote of 262 to 7 in favor of the
question of issuing $45,000 hlgh-school-bldg. bonds.
MOUNTAIN VIEW SCHOOL DISTRICT, Santa Clara County,
Cal.—BOND OFFERING.—Proposals will be received until 11 a. m. Aug. 4
by the Board of Supervisors (P. O. San Jose) for the $4,000 5H% impt.
bonds voted June 16 (V. 96, p. 1855).
held July 26
Stanley), No. Dak.—BOND SALE.—
4% 20-yr. coup, court-house-constr. tax-free bonds
State of North Dakota at par. Farson,
for 6s.,
MUSKINGUM COUNTY (P. O. Zanesville), Ohio.—BOND OFFER¬
ING— Proposals will be received until 10 a. m. Aug. 19 by H. If. Kennedy,
Clerk Board of County Commissioners, for $75,000 5% bonds.
Auth. Sec.
MOUNTRAIL COUNTY (P. O.
On
July 28 the $50,000
(V. 97, p. 68) were awarded to the
Son & Co. of Chicago bid $50,018
2434,
Gen. Code.
21
Due in
years.
Denom. $1,000.
Date Aug. 1 1913. Int.. F. & A.
Certified check (or cash) for 2% of bonds bid upon,
payable to Board of
County Commissioners, required.
■
NACOGDOCHES
COUNTY
COMMON SCHOOL DISTRICTS,
Tex.—BOND SALE.—On July 10 $800 Dist. No. 21 and $750 Dist. No. 16
5% 5-20-yr. (opt.) bonds dated April 16 1913 were purchased at par and int.
by the State Permanent School Fund.
.
INDEPENDENT SCHOOL DISTRICT, Tex.—BOND SALE.
NALLEY
—On July
10 $2,000 5% 10-40-yr.(opt.) bonds
School Fund at par and int.
dated March 1 were awarded
to the State
NAVAJO COUNTY SCHOOL DISTRICT NO. 16, Ariz.—BONDS
NOT SOLD.—No bids were received on July 7 for the $2,500 6% gold coup,
bldg. and equip, bonds offered on that day (V. 97, p. 68.)
NEVADA
INDEPENDENT
SALE.—On July 10
SCHOOL
DISTRICT,
T ex.-r—BOND
$4,000 5%, 20-40-yr. (opt.) bonds dated May 1 were
and int. to the State School Fund.
NEW LEXINGTON, Perry County, Ohio.—1BONDS
No bids were received for the $4,810 5% 5H-yr. (av.)
st.-impt. bonds offered on July 28 (V. 97, p. 132).
sold at par
to
NEW
NOT SOLD.—
Maple Heights
MEXICO.—BONDS NOT SOLD.—The State Treas. advises us
July 26 that no sale has yet been made of the $200,000 4%
under date of
bonds offered without success on July 1 (V. 96, p. 1787).
O. Kentland), Ind.—BONDS NOT SOLD.—
advises us under date of July 26 that no sale has yet
been made of the $7,320 highway bonds offered on July 7 (V. 97, p. 68).
BOND OFFERING.—F. C. Rich, Treas., will, it is stated, receive bids
until 2 p. m. Aug. 5 for $2,048 4road bonds.
NIAGARA FALLS, Niagara County, N. Y.—BOND SALE.—On July
31 the $68,800 5% 10-yr. gold city-hall-site bonds series ''A" (Y. 97, p. 254)
were awarded to Adams & Co., of N. Y., it is stated, at 101,271 + .
NILES, Trumbull County, Ohio.—BOND SALE.—On July 29 the
$10,500 5% fire-dept. and prison-impt. bonds (V. 97, p. 68) were awarded,
reports state, to the German Nat. Bank of Cincinnati at 100.51 + .
BOND SALE.—On July 10 an issue of $7,224 4H% sewer bonds was pur¬
chased by the Niles Trust Co. of Niles at par and int.
NINEVEH
SCHOOL TOWNSHIP (P.
O. Franklin), Johnson
gold coup, highway
NEWTON COUNTY (P.
The County Treas.
County,
Ind.—BOND
OFFERING.—Proposals will be received until
Aug. 16 by E. E. Cobb, Trustee, for $7,500 4% bldg. bonds.
$500.
Date Aug. 16 1913.
Int. F. & A. Due $500 each six
months from Aug. 16 1915 to Aug. 16 1922 incl.
10
a.
m.
Denom.
NORMANGEE INDEPENDENT
SALE.—On July 10 $3,200
sold at par
"
NORTH CHICAGO
paper
School Fund.
Chicago state that the "South
10,673 to 3,270.
71 bonds previously voted
complete high-school bldgs.
Vote, 10,077 to 3,524.
No. 3—Issuance of $796,000 new bonds for completion
previously voted.
of city hall.
Vote,.
School District
'
Vote, 9,650 to 3,735.
OCALA, Marion County,
•
Fla.—BOND SALE.—The $45,000 5% 10-
offered on July 1 have been awarded to T. Tv
Munroe at par.
Denom. $1,000.
Date Aug. 1 1913.
Int. J. & J.
OGDENSBURG, St. Lawrence County, N. Y.—BOND OFFERING.—
Proposals will be received, it is stated, until 2 p. m. Aug. 18 by J. F. Akin,
City Treasurer, for $56,000 49 5-6-yr. (aver.) impt. bonds.
Cert,
20-year (opt.) water bonds
check for 2%
required.
OLYMPIA, Wash.—BOND OFFERING.—Proposals will be received
until 5 p. m. Sept. 3 by I. N. Holmes, City Clerk, for $150,000 6% coup,
water-works bonds authorized by vote of 1,036 to 447 at the election held
July 21 (V. 96, p. 1720).
Denom. $1,000." Date Oct. 1 1913. * Int. A.&O.
fiscal agency
at the
of the State of Wash, in N. Y. or at the City Treas.
office, at option of holder. - Due on Oct. 1 as follows:
$6,000, 1917 and
1918; $7,000, 1919, 1920 and 1921; $8,000, 1922; $9,000, 1923, 1924 and
1925; $10,000, 1926; $11,000, 1927 and 1928; $12,000, 1929; $13,000, 1930;
$14,000,1931 and $11,000 Oct. 1 1932.
payable to the City Treas., required.
Cert, check for 2% of bonds bid for.
Cuyahoga County, Ohio.—BOND OFFER¬
ING.—Proposals will be received until 2 p. m. Aug. 30 by A. Abell, Twp.
Clerk (P. O. Orange Center) for $8,400 5% coupon highway-impt. bonds.
Auth. Sec. 3295 Gen. Code.
Denom. (1) $400, (16) $500.
Date Aug. 1
1913.
Int. A. & O. at Chagrin Falls Bank Co.. Chagrm Falls.
Due $400
Oct. 11915 and $500 each six months from April 1 1916 to Oct. 1 1923 incl.
An unconditional certified check on a bank other than the one making the
bid, for 10% of bonds bid for, payable to Twp. Treas., required.
Bonds
to be delivered and paid for within 10 days from time of award.
Purchaser
to pay accrued interest.
ORANGEVILLE SCHOOL TOWNSHIP (P. O. Orange ville). Orange
County, Ind.—WARRANT OFFERING.—Proposals will be received until
2 p. m. Aug. 16 by M. F. Mathers, Trustee, for $1,200 6% warrants.
Denom. $150.
Date Aug. 16 1913.
Due $150 each six months from Aug.
16 1914 to Feb. 16 1918 incl.
Cert, check or cash for $100 required.
" " '•
ORE CITY INDEPENDENT SCHOOL DISTRICT (P. O. Ore City),
Upshur County, Tex.—BONDS TO BE OFFERED SHORTLY.—We are
advised by the Sec. of School Board under date of July 24 that the $8,000
5% 20-40-yr. (opt.) bldg. bonds recently voted (V. 97, p. 69) will be offered
for sale shortly.
Denom. $200.
Date July 15 1913.
Int. ann. at the
State Depositary in N. Y. and Ore City.
: .
*
OVERTON INDEPENDENT SCHOOL DISTRICT,
Tex.—BOND
SALE.—On July 10 the State School Fund purchased at par and int. $2,000
5% 10-40-year (opt.) bonds dated Jan. 2.1
OWANECO, Christian County, I1L—NO BOND ELECTION.—The
VII. Clerk advises us that the newspaper reports stating that an election
was to have been held in this village on July 7 to vote on the question of
ORANGE TOWNSHIP,
issuing bonds were erroneous.
OWATONNA,
Steele County,
Minn.—BOND OFFERING.—Ad¬
relative to the offering on Aug. 5 of the
$15,000 5% 15-yr. coupon tax-free refunding library bonds (V. 97, p. 192).
Proposals for these bonds will be received until 8 p. m. on that day by C. J.
Servatius, City Clerk.
Auth. Chap. 338 Laws of 1913.
Denom. $1,000.
Date July 1 1913.
Int. J. & J. at office of City Clerk . Cert, check for 5
of bid, payable to K. P. Theimer, City Treas., required.
....
ditional information is at hand
PACIFIC SCHOOL DISTRICT, Sacramento County, Cal.—BOND
OFFERING.—Bids will be received by the Board of Supervisors (P. O.
Sacramento), it is stated, until 10 a.fm. Aug. 4 for $6,000 bonds.
PARK COUNTY SCHOOL DISTRICT NO. 53, Mont.—BOND OF¬
FERING.—Proposals will be received until 4 p. m. Aug. 11 at the office of
Supt. of Schools in Livingston for $3,800 6% coup, site-pur¬
chase and bldg. bonds due in not more tban 10 years, subject to call in 8
years.
H. C. Gruwell is Clerk of School Trustees.
the County
Wyoming County, N. Y.—NOTE OFFERING.—Proposals
until 8 p. m. Aug. 5 by O. N. Bolton, Vil. Clerk, for $16,building notes.
Auth. election held July 7.
Denom* $1,000.
Int. (rate to be named in bid) M. & S. at the Citizens' Bank oLPerry.
Due $1,000 yearly Sept. 1 from 1914 to 1929 incl.
PICKAWAY COUNTY (P. O. Circle ville). Ohio.—BOND SALE.—
On July 22 the 5% bridge bonds (V. 97, p. 133) offered on that day were
PERRY,
will be received
000 fire-dept.
awarded, reports state, as follows:
$94,000 Red bridge construction bonds
Cincinnati at 100.70.
awarded to Seasongood & Mayer of
*
'
110,000 Bloomfield River bridge-construction bonds awarded to Seasongood
& Mayer of Cincinnati at 100.851+.
38,000 Darby ville bridge-construction bonds awarded to Stacey & Braun
of Toledo at 100.41.
29,000 Bazore bridge-construction
at 100.754+
bonds awarded to Seasongood & Mayer
road bonds awarded to Stacey & Braun at 100.526 +.
PONTIAC, Oaklahd County, Mich.—BOND SALE.—On July 28 the
$50,000 3-yr. (av.) paving (assess.) bonds (V. 97, p. 254) were awarded
to the Detroit Trust Co. of Detroit at 100.60 and int. for 5>£s.
Purchaser
to pay for printing bonds.
PORTLAND, Ore.—BOND OFFERING.—Local papers state that bids
for $75,000 4 % 25-yr. water bonds will be opened Aug. 13.
POSEY COUNTY (P. O. Mt. Vernon), Ind.—BOND OFFERING.—
Ptoposals will be received until 2 p. m. Aug. 5 by A. A. Schenk, County
Treas., for $6,700 4K% Black Twp. highway-constr. bonds.
Denom.
$335.
Date July 10 1913.
Int. M. & N. A similar issue of bonds was
reported sold to the New Harmony Bank Co. of New Harmony on July 12
(V. 97. p. 192).
Reports state that proposals will also be received until 2 p. m. Aug. 5
by the Co. Treas. for $4,100, $2,200, $7,600 and $800 highway-impt. bonds.
23,000 Mackey Ford
POSTOAK, Jack County, Tex.—BONDS VOTED.—We are advised
place voted in favor of the issuance of $6,000 school bonds.
PUTNAM COUNTY (P. O. Greencastle), Ind.—BOND
SALE.—
Reports state that an issue of $7,600 road-impt. bonds has been awarded
to the Central Nat. Bank of Greencastle at par.
that this
QUINCY, Norfolk County, Mass.—BONDS NOT SOLD.—No bids
received for the following 4H% coupon tax-free bonds offered on
■
'
"
$38,775 street and sidewalk bonds.
Denom. (38) $1,000, (1) $500. (1)
$275.
Date June 1 1913.
Due $9,275 on j(me 1 1914? $8,000
yearly from 1915 to 1917, incl., and $5,500 on June 1 1918. "'
"•
9,200 miscellaneous bonds.
Denom. (8) $1,000, (1) $500, (1) $700.
were
July 11:
*
SCHOOL DISTRICT, 111.—BOND SALE.—News¬
reports from North
SCHOOL DISTRICT, Tex.—BOND
bonds dated May 15 were
5% 1-40-yr. (opt.)
and int. to the State
$873,684 66 bonds previously voted
9,574 to 4,210.
No. 4—Increasing interest rate on $431,595 63 auditorium bonds pre¬
viously voted.
Vote, 9,090 to 3,007.
No. 5—Increasing interest rate on $343,000 water-front-impt. bonds
MINEOLA
ann.
held July 22 (V. 97, p. 192) resulted in
propositions:
for grammar and primary school bldgs.
Vote,
No. 2—Increasing interest rate on $495,719
SALE.—On July 10 $5,000 5%
until 12
will be found among the advertisements
W v
1—Increasing interest rate on
No.
purchased by the State
MOBILE, Mobile County, Ala.—BOND
►
BONDS VOTED.—The election
favor of the following
on
are
N; Y. as to the legality of the bonds will be furnished
of Revenue and Finance.
Forrest is Commissioner
elsewhere in this Department.
'
MINNESOTA.—CERTIFICATES TO BE OFFERED OVER
Treas. W. J. 8mith will offer for sale at par over
the National City Bank, N. Y.
Due
Certified check for 2% of
Opinion of Dillon,
1914 to 1943 incl.
payable to the City Clerk, required.
Thompson & Clay of
J.
SALE.—On July 23 the $30,860
—State
City Treasurer's office, or at
amount of bid,
Ballston
97, p. 192) were awarded to
1913.
bonds of
the $16,000
68).
N. J.—BONDS AWARDED IN
OFFERING.—Proposals will be received until
Council for $990,000 5% municipal improvement
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A. at
Aug. 11 by the City
$33,000 yearly Aug. 1 from
County, N. J.—BONDS NOT SOLD.—No sale was made of
4H % 3 5-6-yr. (av.) school bonds offered on July 16 (V. 97, p.
MILLVILLE, Cumberland County,
PART.—We are advised by the Director of Revenue and Finance under date
of July 30 that $2,500 of the $5,000 4H % coup, or reg. 20-yr. street-impt.
bonds offered on July 18 (V. 97, p. 192) have been awgrded to local parties
at par and int.
'
m.
the
Middlesex
Milltown),
(V. 97, p. 192) to
OFFERING.—Pro¬
posals will be received until 8 p. m. Aug. 4 by E. Swilkey, City Clerk, for
$17,300 5% coup, school bonds.
Denom. (17) $1,000, (1) $300.
Date
Aug. 1 1913.
Int. F. & A. at the First Nat. Bank in Pleasantville.
Due
one bond yearly Aug.
1 from 1914 to 1931 incl.
Certified check for 2%
of bid, payable to the City Treasurer, required..
Pa.—BOND OFFERING.—Proposals will be received until
6 p. m. Aug. 15 by S. S. Pick, Sec. Board of Directors, for $25,0004%
coup, bonds.
Denom. (25) $100, (45) $500.
Cert, check for 2% of bonds
bid for, payable to the Treasurer, required.
MILLS COUNTY COMMON SCHOOL DISTRICT NO. 42, Tex.—
BOND SALE.—This district on July 10 sold to the State School Fund at par
and int. $1,500 5% 20-yr. (opt.) bonds dated Feb. 18.
SCHOOL
July 23 sold the $35,000 bonds voted July 5
of Chicago at 93>£.
NORTHFIELD, Atlantic County, N. J .—BOND
County,
MILLTOWN
on
xcvii.
the Harris Trust & Sav. Bank
to the Brighton100.562.
Other
-$40,175
MILAM COUNTY (Granger) COMMON SCHOOL DISTRICT NO. 4
Tex.—BOND SALE.—On July 10 $1,500 5% bonds dated April 10 1913
Prov. S. B. & Tr. Co..
[Vol.
CHRONICLE
THE
314
"
Date July 1 1913.
and
$2,000
on
Due $4,200
July 1 1916.
on
July 1 1914, $3,000 JiUy.ll91&
>
^
AUG. 2
1913.]
THE
CHRONICLE
315
Tyler
SISTERSVILLE,
Int. semi-annually at National Shawmut Bank, Boston.
County, W.
Va.—BONDS AWARDED IN
typographical error this item appeared in last week's issue
Quincy County, Mass.
PART.—On July 26 $8,000of the $15,000 5% 10-34-year (opt.)
coup, wa¬
ter-works, sewer-ext. and street-impt. bonds offered on that day (V. 97,
RACINE COUNTY (P. O. Racine), Wis.—BID.—A bid of par and
accrued int. was received from Farson, Son & Co. of Chicago for the $30,000
4% court-house bonds offered July 29 (V. 97, p. 192).
We are not advised
whether or not this offer was accepted.
at. Bank
Sistersville.
&134)
wereofawarded,
$3,000 to G. B. West and $5,000 to the People's:
Owing to
a
under the head of
RAEFORD
County, No.
awarded
(P. O. Raeford), Hoke
awarded to A. J. Price & Co. at 103.
RANDOLPH COUNTY (P. O. Winchester), Ind.—BOND OFFER¬
ING.—Proposals will be received until 12 m. Aug. 4 by H. D. Good, Co.
Treas., for $5,000 4M % Ernest Cox County-line road-impt. bonds. Denom.
$250.
from
Date Aug. 4 1913.
Int. M. & N.
May 15 1914 to Nov. 15 1923 incl.
RICE
Due $250
(av.) road-improvement bonds offered on July 28 (V. 97,
First
the
to
Date July 1
1913.
Date Aug. 1 1913.
ROANE
Nat.
COUNTY
POSED.—Local
Bank
of
Rice
Lake
at
par.
Denom.
(P.
O.
state
papers
Brook),
purchased by the State School Fund ar par and iht.
were
ROCK CREEK, Ashtabula County, Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 12 by J. E. Gladding, Village
Clerk, for $3,400 5% union cemetery bridge bonds.
Denom. $200.
Date
Int. A.&O.
Due part/rom 1915 to 1917, incl.
Aug. 12 1913.
Certified
check for 5% of bonds bid for, payable to E. R. Williams, Mayor, required.
Purchaser to pay accrued interest. '<,
'
:
.
ROCKFORD,
Winnebago
County,
No sale has yet been made of the $3,000
May 24.
ROCKINGHAM,
Richmond
County,
No.
graded school
OFFERING.—Proposals will
K. Statts, Clerk, for $21,000
offered without success on
was
We
offered
on
July 7 (V. 96, p. 1789).
BOND OFFERING.—Proposals will be received until 10 a., m. Aug. 4 by
J. C. Kinney, Co. Treas., it is stated, for $9,650 highway-impt. bonds.
SPENCERVILLE, Allen County, Ohio.—BOND SALE — On July 28
the $14,000 5M% 5M-year (average) Broadway street-impt.
(village's
portion) bonds (V. 97, p. 194) were awarded to the Citizens' Bank of Spencerville for $14,010 (100.071) and interest.
Other bids were: 1
First Nat. Bank, Cleveland_*$14,0171 Weil, Roth & Co., Cincin—$14,001
Davies-Bertram Co., Cin— 14,003(Spitzer, Rorick & Co., Tol__al4,000
*
This bid appears higher than that of the purchasers, but is so given by
the Clerk,
a
And blank bonds.
SPRINGFIELD,
Caro.—PURCHASERS
purchasers of the $30,000 street-paving and $20,000
6% 30-yr. bonds recently sold (V. 97, p. 133) were A. J.
County, N. J.—BOND
A like amount of 5% bonds
yet been made of the $9,500 4M% coup. J. Lakey et al. road-impt. bonds
111.—BONDS NOT SOLD.—
5% water-works bonds offered o
:/" • '' '
,r '•
'•
BONDS.—The
OF
July 21 $50,000
Greene
County, Mo .—TEMPORARY LOAN.—On
7 % 7-months'
current-expense bonds
July 1 and $15,000 at 100.50.
ROCKY RIVER, Cuyahoga County, Ohio.—BONDS NOT SOLD.—
were received on July 22 for the four issues of 5% coupon bonds,
aggregating $17,372, offered on that day (V. 96, p. 1856).
of 100.10 was received from the Bank of Commerce.
ROSEVILLE, Placer County,
Cal.—BONDS TO BE OFFERED
SHORTLY.—Reports state that this town will shortly offer for sale the
$20,000 highway bonds recently voted (V. 96, p. 1648).
\
RULO,
tin, City Clerk.
Denom. $500.
at office of State Treas.
Date Sept. 1 1913.
Int. ann. on Sept. 1
Cert, check for 5%, payable to C. J. Caverzagie,
City Treas., required.
RUSH
COUNTY
(P, O. Rushville), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Aug. 6 by W. M. McBride, County
Treasurer, for the following 4M % road bonds:
$20,800 R. B. Gook et al road, Union Twp., bonds.
Denom. $520.
13,100 T. Miller et al road, Walker Twp., bonds.
Denom. $655.
Date June 30 1913.
Int. M. & N.
Due one bond of each issue each
six months beginning May 15 1914.
RUSH
COUNTY
COMMON
SCHOOL
DISTRICTS,
SALE.—On July 10 $900 Dist. No. 4, $1,200 Dist. No. 40, $800 Dist. No.
47 and $400 Dist. No. 63 5% 10-20-yr. (opt.) bonds dated Feb. 15 1913
purchased at par and int. by the State Permanent School Fund.
DISTRICT, Tex.—BOND SALE.—
July 10 $2,550 5% 10-40-yr. (opt.) bonds dated June 15 were sold to the
and int.
*
"
....
. .
.
■
State School Fund at par
STEUBENVILLE
the
for
Cal .—BONDS NOT SOLD.—No bids
$887[000 4M% 20M~yr.
July 24 (V. 97,
p.
193).
(aver.)
*
;
•
/
were
purchased
proposition to issue the $17,500 site-purchase and construction bond®
(V. 96, p. 1379) will be held Aug. 2.
STRYKER, Williams County, Ohio.—BOND OFFERING.—Proposals
will be received until 12
SULLIVAN
PAUL, Neosho County, Kan.—BONDS VOTED.—The question
of issuing $12,000
recent
ST.
municlpal-electric-light- bonds carried, it is stated, at
election.
PAUL,
a
St. Paul.
150,000 water-works-ext. and impt. bonds to the Sinking Fund Committee.
no
local papers
state, for issues of $1,692.40, $2,677.50 and $1,084.90 impt. bonds at not
exceeding 6% int.
'
'
\
,
,
SALEM, Columbiana County, Ohio.—BOND SALE.—On July 30 the
13M-year (av.) sanitary-sewer bonds (V. 97, p. 255) were
awarded to A. E. Aub & Co. of Cincinnati at 101.76.
Other bids were:
Proy. S. B. & Tr. Co.,Cin.$25,283 00 Seasongood & Mayer, Cin.$25,085 00
Stacy & Braun, Toledo
25,220 75 Atlas Nat. Bank, Cin
25,075 25
IIayden.Miller<fcCo.,Clev^ 25,210 00 Weil, Roth & Co., Cin._. 25,068 00
C. E. Denison & Co.,Clev. 25,157 75 Fifth-Third Nat. Bk.,Cin_ 25,066 50
Mayer, Deppe & Walter,
Breed, Elliott & Harrison,
$25,000 5}4%
Cincinnati
25,102 50
Erie
County,
will be received until 12
Cincinnati
Ohio.—BOND
25,062 50
OFFERING.—Proposals
Aug. 20 by F. W. Bauer, City Aud., for $20,000
4M % coupon fire-dept.-equip, bonds.
Denom. $500.
Date Sept. 1 1913.
Int. M. & S. at the City Treas.
Due $10,000 Sept. 1 1918 and $10,000
Sept. 1 1920.
Cert. Check for $200, payable to the City Treas. required
m.
BONDS VOTED.—The proposition to issue
$200,000
bonds failed to carry at the election held
July 30.
light-plant-const.,
V. 97, p. 69.
COUNTY (P. O. Fremont), Ohio.—BOND SALE.—
On July 30 tho $25,000
5% coupon flood-emergency bonds offered without
success on July 2 (V. 97, p.
133) were awarded, it is stated, to the Colonial
Bank & Savings Co. of Fremont at 100.172.
Denom. $500.
Date July 30
1913.
Int. M. & S. at the County Treasurer's office.
Due $2,500 each
six months from March 15 1914 to
Sept. 15 1918, inclusive.
SANDUSKY
SCOTIA, Schenectady County, N. Y.—BOND OFFERING.—Pro¬
posals will be received until 8p.m. Aug. 4 by E. C. Hoyt, Village Clerk,
for
$8,000
bonds, to be issued as of Aug. 1 1913. Denom. $1,(rate not to exceed 5%) F. & A. at Schenectady Trust Co.,
Schenectady.
Due $1,000 yearly on Aug. 1 from 1918 to 1925 incl.
Cer¬
tified check for 2% of bid, payable to
Village Treasurer, required.
These
000.
Sullivan),
Ind.—BONDS OFFERED
Denom. $518 50.
Due $518 50 each six months from May
1923 incl.
3,162 25 Hamilton Twp. bonds.
Due
$451 75
1922
incl.
each
six
Date May 15 1913.
15 1914 to Nov. 15-
Denom. $451 75.
months
from
Nov.
Date May 15 1913.
15 1919 to Nov 15
5,960 00 Curry Twp. bonds.
Denom. $298.
Date April 15 1913.
Due$298 each six months from May 15 1914 to Nov. 15 1923 incl.
5,780 00 Hamilton Twp. bonds.
Denom. $289.
Date May 15 1913.
Due $289 each six months from May 15 1914 to Nov. 15 1923.
incl.
Int. M. & N. at the Co. Treas. office.
"
i
»
,
Chattanooga County,
PONED.—The Secretary-Treasurer advises
Ga.—BOND
SALE
POST¬
that the sale of the $18,000
to have taken place July 10 (V. 96,
us
5% school-building bonds which was
1249) has been postponed indefinitely.
p.
"
\
; *
•
SUTTER SCHOOL DISTRICT, Sacramento County, Cal.^—BOND
OFFERING.—At 10 a- m. Aug. 4 bids will be opened, it is said, by the Bd.
of Supervisors (P. O.
Sacramento) for $7,000 bonds of this district.
SCHOOL DISTRICT,
Kern County, Cal.—BONDS VOTED.
—The election held July 18 resulted, according to newspaper
reports, in
favor of the proposition to issue $18,000 bonds
(V. 97,
p.
70).
TAYLOR COUNTY
(P.
O.
Abilene), Tex.—BOND "SALE.—The
$150,000 5% 5-40-yr. (opt.) coup, tax-free court-house bonds (V. 97, p. 255)
have been sold, reports state, to A. B. Wood, agent at Dallas, at
97M and
accrued Int.
other bidders.
BOND OFFERING.—Bids will be opened at 12 m. Aug. 6,
SANDUSKY,
O.
$10,370 00 Hamilton Twp. bonds.
TAFT
AWARDED
(P.
BY BANKERS.—J. F. Wild & Co. of Indianapolis are offering to investorsthe following 4M % tax-exempt gravel-road bonds, aggregating $25,272 25r
•
Minn.—BONDS
IN PART.—On July 23
$158,000 of the two issues of 4M% bonds, aggregating $200,000 (V. 97,
p. 193) were awarded at par and int. as follows:
$8,000 of an issue of $50,000 library bonds to the Northwestern Trust Co.,
There were
COUNTY
SUMMERVILLE,
.
Aug. 20 by E. E. Vernier,Vil. Clerk, for $23,000
Int. semi-ann. Due serially from 1920 to 1922 inc.
m.
5% street-impt. bonds.
election held July 26 on the question of issuing $60,000 high-school-
$25,000 sewer bonds which was to have taken place July 30
(V. 97, p. 133) was postponed, it is said, on account of injunction proceed¬
ings.
* ■ ■
••
..
' V
' ' ; '
" '•
.
ST.
„
the
on
—The sale of
Steubenville), Jef¬
•
.
PARIS, Champaign County, Ohio.—BOND SALE POSTPONED.
O.
STEVENS VILLE SCHOOL DISTRICT (P. O.
Stevensville), Ravalli
County. Mont.—BOND ELECTION POSTPONED.—Because of legal
technicalities, the election which was to have been held June 25 to vote on
building bonds.
ST.
(P.
erroneous.
ST. CLAIRSVILLE SCHOOL DISTRICT (P. O.
St. Clairsville),
Belmont County, Ohio.—BONDS VOTED.—A favorable vote was cast
at an
DISTRICT
Ohio.-r—NO BONDS PURCHASED.—We are advised
stating that the People's Nat. Bank of Steubenville recently
$25,000 6% 25-yr. school bonds at par (V. 97, p. 255) are
that the reports
received
levee bonds offered
coupon
SCHOOL
ferson-County,
May 15 (V. 96, p. 1113).
SACRAMENTO.
.
STAR INDEPENDENT SCHOOL
On
RUSHTON
FIRST
SEWERAGE
DISTRICT
(P.
O. Rushton),
Lincoln Parish, La.—BONDS NOT SOLD.—We are advised that no sale
has been made of the $40,000 5 % 35-year sewer-construction bonds offered
on
A bid
'
DISTRICT, Tex.—BOND SALE.—
Oh July 10 the State School Fund purchased at par and int. $2,000 5% 1040-yT. (opt.) bonds dated Feb. 1.'
'
*
t
Tex.—BOND
were
Date July 1 1913.
Denom. $1,000.
SPUR INDEPENDENT SCHOOL
Richardson
County, Neb.—BOND OFFERING.—Further
details are at hand relative to the offering on Aug. 12 of the $10,000 5M %
5-20-yr. (opt.) coup, electric-light-system bonds (V. 97, p. 193).
Pro¬
posals for these bonds will be received until 8 p. m. on that day by E. Mar¬
awarded
to
accrued int. from
were
the Southern Missouri Trust Co., $35,000 at 100.25 and
Hood & Co. of Detroit at 103 and int.
No bids
Wash.—
SPENCER COUNTY (P. O. Rockport), Ind.—BONDS NOT SOLD.—
are advised by the Co. Treas. under date of July 26 that no sale has
ROBERTSON COUNTY COMMON SCHOOL DISTRICTS, Tex —
BOND SALE.—On July 10 $1,000 5% 5-10-yr. (opt.) Dist. No. 11 bonds
dated June 10 and $1,500 5% 5-15-yr. (opt.) Dist. No. 21 bonds dated
April 1Q
134).
21,
SOUTH HAVEN, Van Buren County, Mich.—BOND SALE.—On
July 21 $7,400 5% coup, tax-free bonds were disposed of locally.
Denom.,
$350 and $500.
Date July 1 1913.
Int. J. & J. at the City Treas. office.
Due part yrly. July 1 from 1914 to 1917 incl.
Bonded debt (including
this issue), $227,000.
Floating debt, $20,000.
$500.
■
.
p.
NO.
Int. ann. in August.
Somerset
bldg bonds.
July 16.
Kingston),' Tenn.—WARRANTS PRO¬
this county will issue $110,000 road
•••
DISTRICT
be received until Aug. 6, it is stated, by J.
that
warrants.
SCHOOL
SOUTH BOUND BROOK SCHOOL DISTRICT (P. O. South Bound
Iht. annually in July.
'
COUNTY
SNOHOMISH
each six months
LAKE, Barron County, Wis.—BOND SALE.—On July 22 thepublic-building bonds offered on July 8 (V. 97. p. 69) were
were pur¬
BOND SALE.—On July 22 $4,000 1-20-year (opt.) bldg. and equip, bonds
were awarded to the State of Washington at par for 5Ms.
Denom. $1,000.
$3,000 5%
awarded
April 10
SMITH TOWNSHIP (P. O. Sebring), Mahoning County, Ohio.—
BONDS NOT SOLD.—No bids were received for the $30,000 5% 16M-year
July 19
on
Purchasers to furnish bonds and pay all legal and other expenses.
It was
inadvertently reported In last week's "Chronicle" that the above bonds
were
SLATEN INDEPENDENT SCHOOL DISTRICT, Tex.—BOND SALE.
—On July 10 $3,000 5% 10-40-30*. (opt.) bonds dated
chased by the State School Fund at par and int.
Caro.—PURCHASER OF BONDS.—We are advised that
of the $20,000 of an issue of $35,000 6% 30-yr. school bonds
were A. J. Hood & Co. of Detroit at 105 and int.
purchaser
the
DISTRICT
GRADED SCHOOL
coupon sewer
Int.
bonds were offered without success
on
July 21 (V. 97,
p.
255.)
SEBEWAING,
Huron County, Mich.—BOND OFFERING.—Pro¬
posals will be received until 7:30 p. m. Aug. 18 by O. L. Manske, Vil. Clerk,
for $6,000 5% bonds.
Int. semi-ann.
Due in 1917, 1918 and 1919.
Norfolk County, Mass.—BOND SALE.—On
July 26 the
$15,000 4M% 8-year (aver.) coup, tax-free water bonds
(V. 97, p. 255)
were awarded to Estabrook & Co. of
Boston at 101.55.
SHREVEPORT,
La.—BOND
ELECTION.—Reports state that the
questions of issuing the $55,000 5% streetrepair-apparatus and re-voting the $101,500 public-impt. bonds at 5% int.
(V. 97, p. $9) will be held Aug. 5.
election to submit to
a
vote the
_
TENNANT SCHOOL DISTRICT (P. O. Tennant), Shelby County,
Iowa.—BOND OFFERING.—Proposals will be received at any time for
$12,000 5% 5-10-yr. (opt.) bldg. bonds.
Auth. vote of 96 to 62 at an elec¬
tion held July 19.
- •
.
TERRACE PARK, Hamilton County, Ohio.—BOND OFFERING.—
Proposals will be received until 12 m Aug. 23, by W. E. Williamson, Vil.
Clerk, for the following 5M % bonds.
$1,100 assessment bonds.
Denom. $110.
Due $110 yrly. July 10 from
1914 to 1923 incl.
450 street & road Impt.
"
,
(village's portion) bonds.
to 1922, incl. •
Denom. $90.
Due
$90 yrly. July 10 from 1918
Auth. Sees. 3817, 3820 and 3821 Gen. Code.
Date July 10 1913. ; Int.
J. & J. Cert check for 5% of bonds bid for
required, Bonds to be delivered
and paid for within 10 days from time of award.
Purchaser to
pay
nt.
..
accrued
•
TIPPECANOE COUNTY (P. O. Lafayette), Ind.—BOND OFFER¬
ING.—According to reports proposals will be received until 2 p. m. Aug. 3
by F. Lee Duncan, Co. Treas., for $3,800 highway-impt. bonds.
TIPTON COUNTY (P. O. Covington), Tenn.—BOND SALE— The
$50,000 5% 25-year school bonds offered without success on June 9 (V. 97,
p. 134) have been purchased by A. J. Hood & Co. of Detroit at par and int.
TOISNOT (P. O. Elm City), Wilson County. No. Caro.—BONDS
NOT SOLD.—No sale has yet been made of the $10,000 6% 20-year
coupon
water-works and sewerage bonds recently offered without success (V. 96.
p.
1789).
TOLEDO, Ohio— BOND SALE.—On July 30 the $130,633 4M % 7-year
street-impt. bonds (V. 97, p. 70) were awarded to the First National
Bank of Toledo at par and accrued int. < This was the only bid received.
BONDS NOT SOLD.—No bids were received for the $150,000
coup,
year
(aver.)
coup, water-works bonds also offered
on
4M % 17July 30 (V. 97, p. 70).
An ordinance has been passed by Council authorizing the sale of these bonds
"over the counter" in denominations of $100.
TWIN
BRIDGES, Madison County, Mont.—BOND SALE.—On
July 22 the $17,000 6% 20-yr. water works bonds (V. 96, p. 1857) were
or Spokane at
par and int.
Date July 1 1913.
Denom. $500.
Int. semi-ann.
awarded to C. A. Cockron
UNION,
N.
J.—BOND
OFFERING.—Press dispatches
state
that
Jr., Town Clerk, will receive bids until 8:30 p. m. Aug. 11 for
$84,000 4M % 22-yr. (av.) school bonds.
Cert, check for $840 required.
E. Bautz
UNION
TOWNSHIP
(P.
O.
Bellmore).
Parke
County,
Ind.—
WARRANT SALE.—On July 28 the $3,600
5% 1-6-yr. (ser.) school-bldg.
(V. 97, p. 255), were awarded to J. B. McHargue at 100.833.
W. R. Stokes of Bellmore bid $3,611.
Denom. $600.
Date Aug. 1 1913.
Int. ann, in August.
warrants
[Vol.
CHRONICLE
THE
316
UTICA, N. T
.—BOND
e$90,000
hT—.E4H%
LAS reg. school bonds
31 In multiples of $100 (V. 97, p. 194) were oversubscribed
There were about 70 bidders, most of whom offered par.
offered July
$40,700.
xcvii
WASHINGTON, Beaufort County, No. Caro.—BONDS NOT SOLD.
$150,000 5% 50-yr. gold coupon municipal-
—No bids were received for the
impt. bonds offered on July 1 (V. 96,, p. 1649.)
WASHINGTON TOWNSHIP (P. O. West Toledo). Lucas CountyOhio.—BOND OFFERING.—Proposals will be received until 1:30 p. m.
—BOND OFFERING.-—Proposals will
M. Marquart, Clerk, for $1,700 5H%
O. Rawson), Hancock County, Ohio.
be received until 1p.m. Aug. 9 by
Sub-district No. 6 bldg. bonds voted
July 8 (V. 97, p. 255).
Denom. (4) $200, (3) $300.
Date Aug. 9 1913.
Int. P. & A.
Due $500 Aug. 9 1914, 1915 and 1916 and $200 Aug. 9 1917.
Aug. 16 by I. A. Bolton, Clerk Bd. of Ed., for the $40,000 5^[
chase and bldg. bonds voted May 10 (V. 96, p. 1441).
Auth,
7626 and 7627, Gen. Code. Denom. $1,000. Date Aug. 22 1913.
; VENICE UNION HIGH SCHOOL DISTRICT, Los Angeles County,
Cal.—BOND OFFERING.—Proposals will be received until 2 p.m. Aug. 4
int.
VAN BUREN TOWNSHIP (P.
by the Board of Supervisors (P. O. Los
bonds voted June 19 (V. 96, p. 1858.)
Angeles) for the
$250,000 5% bldg.
..."
Pennington County.
WALL,
So. Dak.—BONDS NOT SOLD.—No
5% 10-20-yr. (opt.) water-works bonds
*
DRAINAGE DISTRICT (P. O.
OFFERING.—Reports state that P. B.
receive sealed bids until noon Aug. 25 for $335,000 6%
bonds.
Walnut Ridge),
Hill, Pres., will
5-15-yr. drainage
"
WARREN,
Trumbull County,
Ohio.—BOND OFFER INQ.—Pro¬
posals will be received until 12 m. Aug. 18 (date changed from Aug. 4)
by W. E. Dilley, City Auditor, for $7,750 4M% North Park Avenue
paving (city's share) bonds, second section.
Authority Section 3939,
General Code.
Denom. $500 and $250.
Date April 1 1913.
Interest
A. & O.
Due one bond each six months from April 1 1915.
Cert, check
for, $200 payable to City Treas., required.
Bonds to be delivered and paid
for within 5 days from time of award.
Purchaser to pay accrued interest.
Williamsport), Ind.—BOND OFFERING.
—Proposals will be received until Aug. 23 by D. H. Moffitt, Co. Aud., for
$75,000 4% coup, bonds.
Denom. $500.
Date July 7 1913. Int. J. & J.
Due $4,00 each six months beginning July
1 1915.
•
WARREN COUNTY (P. O.
WARREN TOWNSHIP, Putnam
County, Ind.—BOND SALE.—On
school-bldg. bonds (V. 97, p. 134)
July 28 the $1,380 4yi% 2 1-3-yr. (av.)
were awarded to the Central Trust Cok
Bonds to be delivered
to Twp. Treas., required.
days from time of award.
Purchaser to pay ac¬
crued interest.
unconditional.
be
Town of Malta, Montana,
SYSTEM BONDS.
,
«
.
State of Montana, will offer for
Town Clerk, in the Town
Valley County,
sale at the office of the
Malta,
Montana,
on
SATURDAY, THE
6TH
DAY OF SEPTEMBER, 1913, at the
of
p'clock p. m., its issue of sewer-system
amounting to four thousand ($4,000)
hour of 2
bonds,
thousand ($1,000)
bearing interest at not to
exceed six
(6)
per
cent per annum, payable
semi-annually on the 1st day of January and the
1st day of July of each year, the said bonds to
bear date of January 1st, 1914, due twenty (20)
years after date, and redeemable at the option
of the said Town at any time after fifteen (15)
years from the date of issue.
Principal and in¬
terest payable in lawful money of the United States
at the office of the Town Treasurer of said Town,
or, at the option of the holder, at the banking
house of the Hanover National Bank in the City
dollars of the par value
dollars each, said bonds
of
one
and State of New York.
The money received
the sale of said bonds to be used for the
construction of a main sewer and septic tank for
from
in said Town.
be accompanied by a certified
five hundred ($500) dollars,
payable to the Town Treasurer of the said Town
of Malta, as a guaranty that the bidder will take
and pay for said bonds as soon as the same are
signed and ready for delivery.
No bid can be
received for less than par and accrued interest.
The Town Council reserves the right to reject
any or all bids.
i
By order of the Town Council.
Dated Malta, Montana, July 23, 1913.
sewer
The
purposes
bids to
check in the sum of
H.
M.
KIRTON,
Town Clerk.
WAYNE COUNTY (P. O. Richmond), Ind.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 4 by A. N. Chamness, Co. Treas.,
$5,000 4}4 % Ernest Cox County-line road-impt.bonds.
Denom. $250.
Date Aug. 4 l9l3.
Int. M. & N.
Due $250 each six months from May 15
1914 to Nov. 15 1923 inclusive.
for
WEBSTER COUNTY (P.
PROPOSED .-rrLocal
O. Red Cloud), Neb.—BOND ELECTION
state that a movement
papers
has been started to
election to vote $60,000 court-house bonds.
secure an
WELLS VILLE, Columbiana County, Ohio.—BONDS NOT SOLD.—
No bids were received on July 30 for the two issues of 5% impt. bonds
aggregating $9,598 (V. 97, p. 71)
Allegany
WESTERNPORT,
■
.
County,
Md.—BOND
WESTON
at hand relative to
are
SCHOOL
DISTRICT
(P.
O.
Weston),
30-YEAR 5%
California,
City Council invites proposals for the purchase
and Ninety Thousand Dollars
Municipal Improvement Bonds of 1913 in denomi¬
nations of One Thousand Dollars each.
Bonds
are dated August 1,
1913, bear interest at five
cent, payable semi-annually at office of City
National City Bank of New York.
series, thirty-three bonds of
each series maturing August first of each year,
Proposals will be
commencing August 1, 1914.
per
until
received
TWELVE O'CLOCK M., AUGUST 11, 1913.
No bid will be entertained for less than par and
accrued interest.
Proposal must be accompanied
by certified check, made payable to City Clerk
equal ta two per cent of the amount
of the bid.
The opinion of Dillon, Thompson &
for an amount
Clay will be furnished.
"
"
JOHN
FORREST,
OOmmtasioner of Revenue & Finance.
disposed
(P. O. Monticello), Ind.—BOND SALE.—On
July 27 the two issues of 4)4% coupon gravel-road bonds, aggregating
$28,500 (V. 97, p. 195) were awarded, it is stated, to Edw. O'Gara or
COUNTY
WHITE
Lafayette at par.
WHITE PLAINS
(Village), Westchester County, N. Y.—BOND
OFFERING.—Proposals will be received until 8 p. m. Aug. 4 by G. K. Cox,
Village Clerk, for the following 5% registered bonds:
$15,000 sewer bonds.
Due $5,000 Aug. 1 1922, 1923 and 1924.
10,000 macadamizing and paving bonds.
Due $5,000 Aug. 1 1924 & 1925.
NEW
LOANS.
$200,000
CITY OF ELM IRA,
'
the Board of Edu¬
District No. 1, Town
Franklin County, N. Y., will
receive sealed proposals at a price not less than
par for the purchase of the registered bonds of
said District in the amount of $28,000 until the
13th DAY OF AUGUST, 1913, at 8 o'clock
p.m., at which time said proposals will be publicly
opened at Office of E. R. Young, in the Village of
Saranac Lake, N. Y., and action taken thereon.
Said bonds are of the denomination of $1,000,
each numbered 1 to 28, inclusive, dated as of the
1st day of September,
1913, and payable one
bond as consecutively numbered on the 1st day
of September, in each of the years 1914 to 1941
Notice is hereby given that
of Harrietstown,
N.Y.,
4y2% BONDS
County, N. Y,
cation of Union Free School
undersigned at the
City Clerk's Office, Elmlra, New York, up to
AUGUST 4, 1913, at 8 o'clock P. M., for bonds
of the City of Elmira, N. Y.f to be issued pur¬
suant to Chap. 77 of the Laws of 1913 and reso¬
lutions of the Common Council of the City of
Elmira, N. Y., adopted at a meeting held June 30,
1913, in the aggregate sum of not exceeding
$200,000 to be known as Pavement Bonds.
Said
bonds to be sold at not less than par and accrued
interest, and bear interest at a rate not exceeding
4M% per annum, payable semi-annually.
Said
1 to 40 inclusive and
series of one hundred
each, to be known as Series
A and B.
Series A shall include Nos. 1 to 20
inclusive, and shall be dated August 1, 1913; and
Series B shall be numbered from 21 to 40, in¬
clusive, and shall be dated September 1, 1913.
The interest on Series A shall be payable on the
first days of February and August of each year
payabi
at the office of the City Chamberlahi In the City
Bank in New York Exchange.
As evidence of good faith each bid
must be of Elmira; and the interest on Series B shall be
accompanied by a certified check on a national payable on the first days of March and September
in each year at the office of the City Chamberlain
bank or trust company, payable to the order of
in the City of Elmira.
8aid bonds shall be issued
the Treasurer of said District, for two per cent of
the par value of the bqnds bid for.
The checks for Five Thousand Dollars ($5,000) each, and
shall mature in the following manner and times,
of unsuccessful bidders will be immediately re¬
viz.; Nos. 1 and 2, 3 and 4, 5 and 6, 7 and 8.
turned, and the amount of check of the successful
bidder applied upon ,the purchase price of the 9 and 10, 11 and 12, 13 and 14, 15 and 16,17 and
18, 19 and 20, to mature August 1, in the years
bonds.
1914, 1915, 1916, 1917, 1918, 1919, 1920, 1921,
The right to reject any or all bids is reserved.
1922, 1923, respectively, and Nos. 21 and 22,
By order of Board of Education,
'
23 and 24, 25 and 26, 27 and 28, to mature
E.
R. YOUNG, Clerk.
September 1, in the years 1924, 1925, 1927 and
Dated, July 29th, 1913.
1928, respectively; Nos. 29, 30 and 31 to mature
September 1, 1929; Nos. 32, 33, 34 and 35 to
mature Septerhber 1, 1931; Nos. 36, 37, 38, 39
and 40 to mature September 1, 1'932.
Bids will
-
bonds shall be numbered
shall be
issued in two
thousand ($100,000)
.
.
WM.
KRAFT
be received
of
and Corporation Bonds
Municipal
1037-9 FIRST
separately for each series, or any part
thereof, viz.: Series A, $100,000; Series B $100,000,
hereinbefore set forth, reserving the right to
as
Specializing; in Examination
NATIONAL BANK BLDG..
reject
BLODGET &
any or
all bids on said bonds or on either
Bids must be accompanied
series of said bonds.
by a certified check of 2% of the amount of bid.
The assessed valuation of the real property
of Elmira is $22,007,722.
The bonded indebtedness is $1,009,000.
Dated, Elmira, N. Y., July 22, 1913.
OTIS
H.
GARDNER,
City Clerk.
CHICAGO, ILL.
CO.
BONDS
60
STATE
Treasurer or at
Bonds are in thirty
the Secy. Bd.
July 30 that an issue of $2,000 bonds will be
of locally.
5% BONDS
BONDS.
of Nine Hundred
County,
Plstte
Mo.—BONDS TO BE SOLD LOCALLY.—We are advised by
LAWYER.
City of Oakland,
OFFERING.—
the offering on Aug. 12 of the $60,000
5% 5-30-yr. (opt.) coup, tax-free water-system-impt. bonds (V. 97, p. 195).
Proposals for these bonds will be received until 6 p. m. on that day by
O. H. Bruce, Town Clerk.
Denom. $500.
Date May 1 1911.
Int. M.
& N.
No deposit required.
Bonded debt, $8,000.
Floating debt, $6,000.
Assessed valuation, $1,000,000.
Further details
Town of Harrietstewn, Franklin
F.
$990,000
<
WATERVLIET, Albany County, N. Y.—BOND OFFERING.—Local
papers state that $35,000 bonds will be sold at public auction on Aug. 7
by Thos. F. McLaughlin, City Chamberlain.
UNION FREE SCHOOL DISTRICT NO. 1,
the Town of Malta,
'
Int. semi-ann. at the Fourth Atlantic Nat. Bank, Boston.
Bids will be received by the
Notice is hereby given that
.
July 25: ,
$9,700 sewer and miscellaneous loan bonds.
Denom.-$1,000, $900 and
$800.
Date May 1 1913.
Due $5,700 May 1 1914 and $4,000
May 1 1915.
3,400 refitting school-bldg-loan bonds.
Denom. $1,000 and $40Q. Date
June 1 1913.
Due $1,400 June 1 1914 and $1,000 June 1 1915 and
on
$28,000
$4,000
:
•
Mass .—BONDS NOT SOLD.—
4)^ % coup, tax-free bonds offered
Middlesex County,
WATERTOWN,
NEW (JtAMS
NEW LSANS.
SEWER
Purch. to pay accrued
These bonds werre offered without
Toledo bank for $500 required.
on a
must
5s on June 25 (V. 97, p. 71.)
of Ed. under date of
WARRENSVILLE TOWNSHIP (P. O. Warrensville), Cuyahoga
County, Ohio.—BOND OFFERING.—Proposals will be received until
7:30p. m. Aug. 30by E. C. Kohl, Twp. Clerk, for $3,765 5% coup, highway
impt. bonds.
Auth. Sec. 3295, Gen. Code.
Denom. (1) $765, (3) $1,000.
Date Aug. 1 1913.
Int. A. & O. at office of Twp. Treas.
Due $765 on
Oct. 1 1915 and $1,000 yrly. on Oct. 1 from 1916 to 1918 incl.
An uncon¬
ditional cert. check on a bank other than one making the bid,for 10% of
bonds bid for, payable
and paid for within 10
cash
1916.
Bros. Co. of Bridgeport at par.
WALNUT RIDGE
or
Bids
success as
.
,
WALLINGFORD, New Haven County, Conn.—BONDS AWARDED
unsold portion of $177,000 4^% 15-30-yr.
(opt.) bonds (V. 96, p. 1789), $10,000 were awarded on July 1 to Hincks
IN PART.—Of the $95,000
Ark.—BOND
check
No bids were received for the following
WABASH COUNTY (P. O. Wabash), Ind.-^-BOND OFFERING.—
Proposals will be received, it is stated, until 5 p. m. Aug. 4 by N. P. Lavengood, Treasurer, for $27,740 4H% road bonds.
sale has yet been made of the $6.000
offered on May 1 (V. 96, p. 1174).
% site-pur¬
Sees. 7625,
Int. J.&D.
at the Twp. Treas. office.
Due $6,000 yrly. Aug. 22 from 1915 to 1920
incl. and $4,000 Aug. 22 1921.
Bonds to be delivered Aug. 22.
Cert,
30 PINE
STREET, BOSTON
PARK, POTTER & CO.
STREET, NEW YORK
STATE, CITY&
RAILROAD BONDS
certified public
Naw York, Chicago,
accountants.
Cincinnati and
London, England.
GEO.
Tribune
B.
EDWARDS
Building, NEW
YORK, N. Y.
FOR SALE—Timber, Coal,.Iron,
other properties.
Confidential
Ranch and
Negotiations,
Investigations,
Purchases of Property
Settlements,
auditors
i
for
financial
institu-
tions, industrial and
mining
companies.
Investigations, Financial Statements.
°
Periodica! Audits and Accounting
AUG. 2
Denom. $1,000.
CHRONICLE
THE
1913.]
Int. F. & A. at the Village Treas¬
Date Aug. 1 1913.
YORK
TOWNSHIP SCHOOL DISTRICT
(P.
O.
Nelsonville),
Athens County, Ohio.—BOND SALE.—On July 19 $25,000 6% bldg.
were awarded to J. V. Wood and W. H. Parks of the People's Bank
Certified check on an incorporated bank or trust company
2% of bonds bid for, payable to the Village Treasurer, required.
Pirnchaser to pay accrued int.
The validity of said bonds will be approved by
Hawkins, Delafield & Longfellow of N. Y. City, whose opinion will be fur¬
urer's office.
for
nished to each successful bidder.
,
bonds
and int.
Denom. $1,000.
Date July 15 1913.
$1,000 yrly. Sept. 1 1914 to 1938 incl.
at par
for 5Hs.
WINFIELD SCHOOL DISTRICT (P. O. Winfield), Henry County
Iowa.—BONDS VOTED.—At a special election $2,000 bonds were author¬
ized, it is stated, to supplement an issue voted in the spring for building
.
.
,
Proposals wiU be received,
jail bonds.
\
.
.
it is stated, until Aug. 19 for $70,000 5% 5-10-yr.
Canada, its Provinces and Municipalities.
39 (P. O. Winside), Wayne
OFFERING.—Proposals will be received until
Sec. Bd. of Ed., for $8,500 5% coup. & reg.
bldg. bonds.
Denom. (1) $1,000, (5) $1,500.
Date July 1 1913. Int.
J. & J. at the fiscal agency in N. Y.
Due $1,000 July 1 1918 and $1,500
July 1 1920, 1922, 1924, 1926 and 1928.
Cert, check for $200, payable
to the Sec.
Bd. of Ed., required.
Bonded debt, including this issue,
$13,500.
No floating debt.
Assess, val. 1912, $184,000.
YELLOW CREEK TOWNSHIP, Columbiana County, Ohio.—BOND
OFFERING.—Proposals will be received until 1 p. m. Aug. 5, by J. W.
Dennis, Clerk, Bd. of Trustees, care of the Home Sav. & Loan Co., Wellsville for $5,519.36 5% road-hnpt. bonds.
Auth. sec. 3939, Gen. Code.
Denom. $250, $500 and $519.36.
Date Aug. 1 1913.
Int. M. & S. at the
Twp Treas. office.
Bids must be unconditional.
Cert, check on a local
bank for $200, payable to the Town Treas., required.
Purchaser to pay
County,
12
m.
SCHOOL DISTRICT NO.
Neb —BOND
;
SCHOOL
BRANDON
Aug. 16 by H. E. Simon,
accrued int.
DISTRICT, Man.—DEBENTURE SALE.—
sold $20,000 5% 30-yr. debentures to the
district, it is stated, has
Central Canada Fire Ins. Co.
This
.
BREDENBURG, Sask.——DEBENTURE SALE.—The W^estern Schoo,
Supply Co. of Regina has purchased $15,000 7% 20-year debentures!
according to reports.
CARLTON
COUNTY,
Ont.—DEBENTURE OFFERING.—Proposals
C. Macnab, Co. Clerk, for $20,000
will be received until 11 a. m. Aug. 6 by
5% debentures, dated July 2 1913.
a
a
CARLYLE, Sask.—DEBENTURE ELECTION.—Reports state that
by-law to raise $10,000 for light and power purposes will be submitted to
vote on Aug. 4.
>
DARTMOUTH, N. S.—DEBENTURE SALE.—The sale of the following
,
5% debentures is reported:
$31,000 20-year to Bank of Nova Scotia.
21,500 30-year to Nova Scotia Trust Co., Halifax.
10,500 30-year to Eastern Securities Co., St. John.
YONKERS, Westchester County, N. Y.—BOND SALE.—On July 29
the seven issues of 5% reg. bonds, aggregating $993 J)00 (V. 97, p. 256) were
awarded as foHows: To Harris, Forbes & Co. of N. Y.: $100,000 10-yr. (av.)
water bonds at 100.226 +; $180,000 10-yr. (av.) school bonds at 100.281 +;
$200,000 1-10-yr. ser. bonds at par; $400,000 4-yr. (av.) revenue bonds at
nar- $96,000 434-yr. (av.) deficiency bonds at par and $12,000 3H-yr. (av.)
bonds at par; To R. H. Keller of Yonkers $5,000 1-5-y.r
(ser.) hospital bonds at par.
Other bids were:
Bond & Goodwin of N. Y. bid par for all issues.
.
R
W Pressprich 8c Co. of N. Y. bid a premium of $189 for water bonds.
Adams & Co., N. Y., bid a premium of $60 for water bonds.
DONAHOO SCHOOL DISTRICT NQ. 2277 (P. O.
Junkins), Alta.—
DEBENTURE SALE.—An issue of $500 8% building debentures was awar¬
School Supply Co. of Edmonton at par.
Date Dec. 11 1912.* Int. annually in December.
Due in 1923.
ded
Fir^bureau-equip.
on
11
June
DRYDEN,
.
to the Alberta
Ont.—DEBENTURE OFFERING.—Proposals will be re¬
Clerk, for the $16,000 6% 15debenture debt.
ceived until Aug. 15 by Ira J. Wilde, Town
installment debentures (V. 96, p. 1790).
No
Ont.—DEBENTURES
GANANOQUE,
Livingston County, N. Y.—BONDS NOT SOLD.—The Town
that the $11,200 5% 7^-yr. (av.) bridge bonds offered
July 5 (V. 96, p. 1859) have not been sold.
YORK
VOTED.—The
election
held
July 7 (V. 97, p. 72) resulted, it is stated, in favor of granting a $20,000
bonus to the Gananoque & Arnprior Ry. Co.
Clerk advises us
on
Ue
(P. O. Winona). Minn.—BOND OFFERING
COUNTY
WIN SIDE
Due
YOUNGSTOWN, Ohio.—BONDS A WARDED IN PART.—On July 21
the $16,000 5% 4&-yr.
(av.) street-iinpt. (city's portion) bonds were
awarded to the Mahoning Bank of Youngstown at par.
The $810 5%
3 1-6-yr. (av.) Cedar St. paving bonds were taken by the Police Pension
Fund Trustees at par.
No bids were received for the remaining 12 issues
offered.
Y. 97, p. 71.
On July 29 two more of the 5% bond issues offered without success on
July 21 (see item above) were awarded at par, it is stated, as follows:
$8,110 3 1-6-yr. (av.) Marion Ave. paving bonds to Mahoning Nat. Bank.
9,450 3 1-6-yr. (av.) Ina Ave. paving bonds to the City Sav. Bank.
Wash .—BOND
SALE.—The $3,000 5-10-yr. (opt.) bldg. equip, bonds offered on May 20
(V. 96, p. 1441) have been awarded to the State of Washington at par
WINONA
Int. M. & S.
,
WHITMAN COUNTY SCHOOL DISTRICT NO. 45,
purposes.
317
MISCELLANEOUS.
NEW LOANS.
OFFICE OF THE
$33,000
ATLANTIC MUTUAL INSURANCE COMPANY.
'
Town of Malta,Montana,
The
WATER BONDS.
GIVEN that the Town
of Malta, Valley County, State of Montana, will
offer for sale at the office of the Town Clerk, in
NOTICE IS HEREBY
Montana, on SATURDAY,
DAY OF SEPTEMBER, 1913,
o'clock p. m., its issue of water
bonds,
amounting
to
thirty-three
thousand
($33,000) dollars, of the par value of one thousand
($1,000) dollars each, said bonds bearing inter¬
est at not to exceed six (6) per cent per annum,
payable semi-annually on the 1st day of January
and the 1st day of July of each year, the said
bonds to bear date of January 1st, 1914, due
twenty (20) years after date, and redeemable at
the option of the said Town at any time after fif¬
teen (15) years from the date of issue.
Princi¬
pal and interest payable in lawful money of the
United States at the office of the Town Treasurer
of said Town, or, at the option of the holder, at the
banking house of the Hanover National Bank
in theCity and State of New York.
The money
received from the sale of said bonds to be used
for the construction of a water plant and system
in said Town to supply said Town with water.
The bids to be accompanied by a Certified check
in the sum of five hundred ($500) dollars, payable
to the Town Treasurer of the said Town of Malta,
as a guaranty
that the bidder will take and pay
for said bonds as soqn as the same are signed and
ready for delivery.
No bid can be received for
less than par and accrued interest.
The Town
Council reserves the right to reject any or all
the Town of Malta,
New
York,"
1913.
22d,
January
Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs on
Zlst of December, 1912.
The Company's business has been confined to marine and inland transportation insurance.
Premiums
Premiums
on
on
*..$4,069,457 66
such risks from the 1st January, 1912, to the 31st December, 1912.
Policies not marked oft 1st January, 1912
Total Premiums.....
thi
753,427 33
$4,822,884 99
;
....
$4,055,834 06
Premiums marked off from January 1st, 1912. to December 31st, 1912......
SIXTH
THE
at the hour of 2
bids.
!
•By order of the Town Council.
H.
M.
KIRTON, Town Clerk.
Dated Malta, Montana, July 23,
1913.
$302,088 79
Interest on the Investments of the Company received during the year
Interest on Deposits in Banksjmd Trust
Rent received leg
less Taxes and Expenses
Companies, etc
.......
..$2,104,267 48
$197,204 74
Less Salvages
•
,
Re-insurances
...
563,285 21
outstanding certificates of profits will be paid to the holders
thereof, or their legal representatives, on and after Tuesday the fourth of February next.
The outstanding certificates of the issue of 1907 will be redeemed and paid to the holders thereof, or theL
legal representatives, on and after Tuesday the fourth of February next, from which date all interest thereon
will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent is declared on the earned premiums of the Company for the year ending 31st
December, 1912, which are entitled to participate in dividend, for which, upon application, certificates will be
Issued od and after Tuesday the sixth of May next.
By order of the Board,
Q. STANTON FLOYD-JONES, Secretary.
A dividend of interest of Six per cent on the
TRUSTEES.
CHARLES M. PRATT,
DALLAS B. PRATT,
GEORGE W. QUINTARD;
ANTON A. RAVEN,
JOHN J. RIKER,
DOUGLAS ROBINSON,
WILLIAM J. SCHIEFFELIN.
WILLIAM SLOANE,
LOUIS STERN,
HERBERT L. GRIGGS,
ANSON W. HARD,
THOMAS H. HUBBARD;
LEWIS CASS LED YARD;
JOHN N. BEACH,
ERNEST C. BLISS,
VERNON H. BROWN,
WALDRON P. BROWN.
JOHN CLAFLIN
GEORGE C. CLARK,
CLEVELAND H. DODGE;
CORNELIUS ELDERT.
CHARLES D. LEVERICSt;
GEORGE H. MACY,
NICHOLAS F. PALMER,
HENRY PARISH,
ADOLF PAVENSTEDT,
JAMES H. POST,
WILLIAM A.
BALANCE SHEET.
ROAD IMPROVEMENT BONDS
LIABILITIES.
ASSETS.
of the Act of
Assembly of the 26th day of June,
A. D. 1895, P. L. 336.
All bids to be accom¬
panied by a certified check of Ten Thousand
Dollars ($10,000 00), to be made
payable to Lacka¬
wanna County.
Bids to be addressed to and in
hands of undersigned on or before
12:00 O'CLOCK NOON, AUGUST 6TH, 1913.
The right to reject any or all bids is reserved.
CHARLES P. SAVAGE.
Attest:
County Comptroller.
RALPH COLLINS,
hB-Deputy County Comptroller.
Estimated Losses and Losses Unsettled
United States and State of New York
Bonds
BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
SEND FOR LIST.
CHICAGO
$670,000 00
—
York City and New York Trust
Companies and Bank Stocks
—.
New
Stocks and Bonds of
Other Securities
Special
Deposits
Railroads..
--------
in Banks and Trust
Real Estate en Staten
of 1887)
Premium Notes
Bills Receivable
ash in hands of
4.299.426 04
Island (held under
provisions of Chapter 481,Laws
f
1,777,900 00
2,716,537 00
282,520 00
900,000 00
Companies
Real Estate cor. Wall and William Streets
and Exchange Place, containing offices
-
75,000 00
592.766 69
of Adjustment...
..... $2,174,058 00
Premiums on Unterminated Risks..
767,050 94
Certificates of Profits and Interest Un262,924 05
paid
.............
Return Premiums Unpaid...
.....
104,322 76
Reserve for Taxes
.......
110,025 19
Re-insurance Premiums
203,735 65
Claims not Settled, including Compen¬
sation etc
82,698 09
Certificates of Profits Ordered Redeemed,
Withheld for Unpaid Premiums...
22,556 09
Certificates of Profits Outstanding
7.293,220 00
in process
,
—
615,303 16
European Bankers to
losses under policies payable In
foreign countries
.......
—
pay
Cash in Bank.
Temporary Investments
ary 1913) ...
-
(payable Janu-
298,641 20
994,882 29
400,875 00
$11,020,590 67
$13,623,851 38
$2 .603,260
71
$40,804
the 31st day of December, 1912, amounted to...................
26,696
Rents due and accrued on the 31st day of December, 1912, amounted to
Re-Insurance due or accrued, in companies authorized in New York, on the 31st day of December,
257,330
1912, amounted to
--—- - - 47,650
Unexpired re-insurance premiums on the 31st day of December, 1912, amounted to
Note: The Insurance Department has estimated the value of the Real Estate corner Wall and
450,573
William Streets and Exchange Place in excess of the Book Value given above, at..
63,700
And the property at Staten Island in excess of the Book Value, at..
.
The Market Value of Stoeks, Bonds and other Securities on the 31st day of December, 1912, ex¬
1,695,027
ceeded the Company's valuation by
99
99
Thus leaving a
& Willaman
v>
PARSONS, 2d Vice-President.
CHARLES E. FAY,3<2 Vice-President.
JOHN H. JONES STEWART, MA Vice-President.
'
Thousand DoUars ($200,000 00) worth of Lacka¬
wanna County,
Pennsylvania, 4M% Road Im¬
provement Bonds, for the purpose of improvement
and repair of public roads in said County that are
already constructed, or in course of construction,
or that may be constructed under the
provisions
STREET,
GEORGE E. TURNURE.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
Sealed proposals will be received by the County
of Lackawanna for the sale of Two Hundred
93
$91,649 88
ments, etc.....
Lackawanna County, Pa.,
J62.840
-
WALTER WOOD
St.,
$1
of Premiums..
Expenses, including officers' salaries and clerks' compensation, stationery, advertise¬
Returns
$200,000
S9 South La Salle
741,416 65
195.79
•'
RICHARD H. EWART,
MUNICIPAL
544,016 02
Discount.
PHILIP A. S. FRANKLINJ
Bolger, Mosser
475,863 41
130,987 28
Losses paid during the year..
•
,
42,787 34
...
balance of-———--—
Accrued Interest on Bonds on
,
*3» the basis of these Increased
valuations the balance would be
-
00
39
96
00
24
$5,185,044 28
CHRONICLE
THE
318
Total
GREEN MEADOW SCHOOL DISTRICT NO. 423 (P. O.
Sask —DEBENTURE SALE.—An issue of $1,600 7% 10-yr.
■equip, debentures
Watson),
bid*...and
purchased by the Alberta School Supply
Recently
Int. ann. in April.
was
Co. of Edmonton at par.
HALIFAX, N. 3.—DEBENTURE SALES—On July 28 the five issues
of 4H % coupon debentures, aggregating $299,750, due July 1 1945 (V. 97,
p. 135), were awarded to N. W. Harris & Co., Inc., of Bostbn at 89.125,
•on condition
that the interest and principal are payable in Boston or
New York.
Other bids were:
'
j
,•
A. J. Chisholm. Halifax, bid 90 for $12,000.
J. a Macintosh & Co. of Halifax bid $150,000,
„
ft"
.
,
'.
84.44,
5% debentures,
Halifax, at 90.06.
IRVINE,
Sask.—DEBENTURE ELECTION.—A by-law to issue $3,000
is stated, on Aug. 6.
LINDSAY, Ont.—DEBENTURES VOTED.—The election held July 24
resulted in a vote of 349 to 113 in favor of the question of issuing $12,800
•5M% bonus debentures.
Due part yearly from 1915 to 1926 incl.
LIVINGSTON (Rural Municipality No. 331), Sask.—DEBENTURE
'
■
...
■,,
MILD EN SCHOOL DISTRICT NO. 382 (P. O. Milden), Sask—
DEBENTURE SALE.—H. O'Hara & Co. of Winnipeg were awarded on
Date
98.125.
,
NORTH
VANCOUVER, B. C—DEBENTURES NOT SOLD.—We are
made of the six issues
debentures, aggregating $313,500, offered on May 14 (V. 96,
p. 1518).
It was previously stated that the above debentures were dis¬
posed of in London, but these reports were apparently erroneous.
ORILLIA, Ont .—LOAN VOTED.—Reports state that a by-law to grant
advised by the City Clerk that no sale has yet been
of 5% 50-yr.
a
bonus of $25,000 to the C. N. W. Shoe Co. of London, Ont.,
focsnti election
ROCKY LAKE SCHOOL DISTRICT NO. 1027 (P. O. Invernairn),
Sask —DEBENTURE SALE.—An issue of $2,200 6% debentures was re¬
cently awarded to John Irving at
Int.
par.
ann. on
Due Feb. 1
Feb. 1.
1928.
ROULEAU, Sask —DEBENTURES VOTED.—The proposition to issue
the $5,000 6% road-impt. debentures (V. 97, p. 136) carried by a vote of
carried at a
43 to 1 at the election held July 22.
recently purchased $3,600 6% 20-install.
Date July 7 1913.
Int. ann. in January.
debentures at 94.888 +.
bldg.
TILBURY WEST TOWNSHIP, Ont.—DEBENTURE ELECTION.—
Reports state that an election will be held Aug. 9 to vote on the question of
issuing $3,248 6% 10-year debentures.
July 15 (V. 96, p. 1725)
Sask.—DEBENTURE
May 15 $4,000
% 20-install. bldg. equip, debentures at
May 15 l9l3.
Int. ann. in December.
REDCLIFF, Alt*.—DEBENTURE SALE.—Th& Alberta School Supply
$150,000 6% debentures.
Co. of Edmonton is said to have purchased
WELLAND COUNTY (P. O. Welland), Ont.—BONDS NOT SOLD.—
are advised by the Co. Clerk, under date of July 31 that no sale has
been made of the $100,000 4H % 30 install, debentures offered on
m. Aug. 12 by Isaac
debentures.
Int. ann.
(P. O. Maple Creek),
Sask —DEBENTURE SALE.—We are advised by the Sec.-Treas. under
date of July 25 that the $25,000 7% 30-install. bldg. debentures offered
on July 1 (V. 96, p. 1791) have been awarded to Terry, Briggs & Slayton
of Toledo. ;
debt,
We
'
MANTARIO (Rural Municipality No. 262),
OFFERING.—Proposals will be received until 12
Walker, Secy.-Treas., for $6,000 6% 20-installment
MAPLE CREEK SCHOOL DISTRICT NO. 80,
Floating
$204,657.
yet
OFFERING.—Proposals will be received until Aug. 9 by H.P. Archer,
Secy.-Treas. (P. O. Box 45, Benito; Man.) for $4,000 7% 20-year roadimpfc. debentures.
issue,
,
are
town-hall and market debentures will be voted upon, it
this
including
$5.000.; Assessed valuation, $1,046,282.
SOUTH WEYBURN SCHOOL DISTRICT NO. 670 (P. O. Weyburn),
Sask —DEBENTURE SALE.—The Western School Supply Co. of Regina
advised that A loan, not advertised, for about $120,000 4M %
school debentures, due July 11945, was awarded to J. C. Macintosh & Co.,
We
debt,
xcvii.
.
_
or
debenture
[Vol.
V
WETASKIWIN, Alta.—DEBENTURE OFFERING.—Proposals will be
20 by E. Roberts, Secy.-Treas., for the following
,
'
•
$16,000 00 5K % 30-yr. water-works ahd sewer debentures.
20,000 00 5H% 30-yr. water-works and sewer debentures.
20,000 00 5M % 20-yr. electrie-light debentures.
6,000 00 5H% 20-yr. natural-gas debentures.
6,445 06
5%
20-yr. local-impt. concrete-sidewalk debentures.
6,499 47 5H% 20-yr. local-impt. concrete-sidewalk debentures.
2,069 41
5%
30-yr. local-impt. sewer debentures.
4,318 48 5}4% 30-yr. local-impt. sewer debentures.
received until 5 p.m. Aug.
debentures:
WINNIPEG,
4
,
Man.—NEW LOAN.—Subscriptions
were
asked
until
before July 22 by the Bank of Montreal in London for £690,000 4H %
consolidated registered stock at 97.
Press dispatches indicate that the
issue was oversubscribed in advance.
The proceeds of the loan are re¬
quired for extension of Water Supply, Electrical Works, Schools, and sundry
necessary public wofljs.
Int. F. & A.
Due Feb. 1 1963, opt. after Feb. 1
1943 on 6 months' notice.
Principal and int. will be payable at the Bank
of Montreal, London, or, at the holder's option, at par of exchange at the
Bank of Montreal, Winnipeg, or other office where the stock may be regis¬
tered for the time being.
on or
*
PENETANGUISHENE, Ont.—PRICE PAID FOR DEBENTURES
The Town Clerk advises us that the price paid for the $25,000 5% 15-install.
bonus debentures awarded
July 3 to R. C. Matthews & Co. of Toronto
(V. 97, p. 196) was 95 and int.
Date May 1 1913.
Int. ann. on May 1.
on
DISTRICT NO. 159, Sask.—DEBEN¬
will be received until Aug. 10 (time ex¬
for $15,000 5%
YORKTON PUBLIC SCHOOL
TURE
OFFERING .—Proposals
tended from July 1) by C. J. Macfarlane, Sec.-Treas.,
school debentures.
Due in 20 annual installments.
engineers
trust companies.
CHARTERED ISS3
States Trust Company of New
WALL STREET
45-47
Capital,
•
*
•
Surplus and
•
•
Undivided Profits
THE J. G. WHITE COMPANIES
ENGINEERS
•
$2,000,000 00
-
$14,025,643 12
This Company acts as Executor, Administrator, Guardian, Trustee, Court
Depositary and in other recognized trust capacities. :
It allows interest at ourrent rates on deposits.
It holds, manages and Invests money, securities and other property, real or
personal, for estates, corporations and individuals.
MANAGERS
-
FINANCIERS
43
Exchange Place,
•
NEW YORK
London,
San Francisco.
Chicago.
Manila, Para, Buenos Aires, Santiago, Chili.
EDWARD W. SHELDON, President
WILLIAM M.
KINGSLEY, Vice-President
WILFRED J. WORCESTER,'Secretary
CHARLES A. EDWARDS, 2d Asst. Secy
WILLIAMSON PELL, Asst. Secretary
TRUSTEES
Charles D. Robisoa
Alfred E. Foretell
JOHN A. STEWART, Chairman af the Board
WILLIAM ROCKEFELLER
ALEXANDER E. ORR
WILLIAM H. MAOY JR
WILLIAM D. SLOANS
M. KINGSLEY
WILLIAM STEWART TOD
OGDBN
MILLS
EGBRTON L. WINTHROP
CORNELIUS N. BLISS JR
HENRY W. de FOREST
ROBERT I. GAMMELL
LEWIS CASS LED YARD
v
WILLIAM
LYMAN J. GAGE
PAYNE
WHITNEY
EDWARD W. SHELDON
OHAUNOEY KEEP
GEORGE L. RIVES
ARTHUR OURTISS JAMES
FRANK LYMAN
JAMES STILLMAN
JOHN CLAFLIN
JOHN J. PHELPS
FORSTALL AND ROBISON
Investigations
Electric
sad
Appraisals
Institutions.
NEW YORK OIYV
Engineering and Construction
Plans, Methods, Examinations
Public Utilities and Industrials
OFFICE. 80 BROADWAY
Fifth Avenue Branch,
Plaza Branch,
425 Fifth Avenue, corner 38th St.
Gas and
Financial
C. G. YOUNG
1864
UNION TRUST COMPANY OF NEW YORK
MAIN
of
Properties for Owners or
84 William St.,
CHARTERED
,
BHOINSBRS
786 Fifth Avenue, corner 60th St.
REPORTS FOR FINANCING
Banknrs
TruatBldg., New York
Modern Safe Deposit Vaults at both Branches.
V
Alton 8. Millar
Alex. O. Humphreys
Capital $3,000,000
Surplus, (earned) $5,231,000
,
HUMPHREYS & MILLER,Im.
ENGINEERS
ALLOWS INTEREST
ON DEPOSITS
as Executor, Guardian#. Trustee, Administrator and in all Fiduciary
Capacities on behalf of Individuals, Institutions or Corporations.
Acts
Power—Light—Gas
Ml BROADWAY.
•
•
<-
NEW YORK
mining~engTneers
H.
M. CHANCE
&.
CO.
Mining Engineers and Geologists
CHICAGO
COAL AND MINERAL PROPERTIES
$15,000,000
Capital and Surplus,
Examined,
Praxel Bldg
,
Managed, Appraised
PHILADELPHIA. PA
MUNICIPAL AND RAILROAD
Pays Interest
Deals
in
on
Time Deposits, Current and Reserve Account*,
Investment Securities and Foreign
Transacts
a
General
Trust
Exchange,
Business,
BONDS
LIST ON APPLICATION
SEASONGO0D &
MAYER
Ingalls Building
CORRESPONDENCE
INVITED.
CINCINNATI
'
@FedFRASER