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finatirial
The
ti1li1Th1rci31$e
retude
INCLUDING
Railway & Industrial Section
Bankers' Convention Section
Bank & Quotation Section
Railway Earnings Section
SATURDAY, AUGUST 21 1909.
VOL. 89.
The (Chronicle.
810 00
For One Year
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Subscription includes following SupplementsS rATE AND CITY (semi.annually)
ANK AND QUOTATION (monthly)
RAILWAY AND INDUSTRIAL,(quarterly) ELECTRIO RAILWAY(3 times yearly)
RAILWAY EARNINGS(monthly)
BANKEhS' CONVENTION (YearlY)
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CHICAGO OFFICE-P. Bartlett,513 Monadneek Block; Tel. Harrison 4012.
LONDON OFFICE-Edwards cfs Smith,1 Drapers' Gardens, E. C.
WILLIAM B. DANA COMPANY,Publishers,
P.0. Itox 958. Front. Pine and Depeyster Sts., New York.
Published every Saturday mornin! by WILLIAM B. DANA COMPANY
William B. Dana,President; Jacob Seibert Jr., Vice-Pres. and Sec.; ArnoLl
G. Dana,Treas. Addresses ot all,Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &e., indicates
that the total bank clearings of all clearing houses of the U.S.
for week end. Aug. 21 have been $3,256,090,003, against $3,093,844,025 last week and $2,346,664,012 the week last year.
1909.
1908.
21,768,231,391
124,405,751
109,518,913
21,435,227
218,355,529
54,020,292
12,042,875
$1,175,900,005
99,876,614
82,838,128
17,701,379
215,300,616
46,991,694
9,979,854
+50.4
+24.6
+32.2
+21.1
+1.4
+14.9
+20.7
Seven cities, 5 days
Other cities, 5 days
$2,308,009,978
419,976,284
81,648,588,190
340,007,693
+40.0
+23.5
Total all cities, 5 days
All cities, 1 day
82,727,986,262
528,103,741
81,988,595,883
358,068,129
+37.2
+47.4
83,256,090,003
$2,346,664,012
+38.8
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
6
Total all cities for week
%
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all eases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Aug. 14, for four years.
Week ending August 14.
Clea
1909.
1908.
Inc. or
Dec.
1907.
„v4
1906. oil
$$
2
$
New York
1.971,080.692 1,518,252,533 -39.8 1,707,918,266 1,693,776,742
Philadelphia.... 121,515.635
97,779,649 +24.3 132,730,545 131,063,880
Pittsburgh
38,407,451 +17.4
49,489,176
43,514,292
45.106,858
Batilmore
24,354,819
26,341,596 ' 21,527,770 +22.4 28,250,4352
Buffalo
7,406,645 +2o.8
9,319,13;
7,998,528
7,275,545
Albany
4,717,106 +6.9
6,404,464
5,043,393
5,100,879
Washington
5,613,420
4,660,999 +20.4
5,224,040
4,261,000
Rochester
+21.4
3,000,064
3,428,380
2,824,184
3,150,000
Scranton
2,260,246
1,962,570 +15.2
2,022,383
1,839,831
1,943.841
Syracuse
2.108,477
1,576,156 +23.3
1,582,163
1,467,747
Reading
1,371,631
1,222,620 +19.2
1,291,132
Wilmington
1,378,767
-5.2
1,453,633
1,218,128
1,363,390
Wilkes-Barre _
1,204,388
1,143,568
1,143,569 +5.3
965,659
1,360,644
Wheeling. W. Va.
1,102,386
1,381,438 -1.5
989,510
1,200,011
988,268
Harrisburg
1,070,311 +12.1
850,515
1,344.232
Trenton
1,220,106 +10.2
779,127
754,189
York
693.177 +12.4
689,167
625,59 +10.2
698,620
628,809
Erie
453,581
544,189
476,736 -5.0
Greensburg
435,166
418,411
457,043
455,557 -6.1
428,993
Chester
377,700
435.600 -13.3
514,800
471,900
Binghamton ___ 431,407
428,931
+0.6
Altoona
238,060
251,726 -5.4
263,549
Franklin
217,943
Total Middle
Tot. Slew Eng.
169,283,747
160,558,460
+5.2
248,815,353
24,605,450
17,481,816
21,475,788
12,778,827
8,438,064
5,567,400
3,995,344
2,575,271
2,455,220
2,032,285
1,854,815
1,283,348
1,097,687
894,291
955,000
866,273
485,887
587,583
654,583
457,817
501,376
546,008
675,428
486,148
374,514
360,885
419,303
314,462
139,926
31,154
210,150,089
21,647,250
14,432,953
17,991,192
10,493,137
7,110,474
4,427,200
4,050,742
2.562,805
2,041,061
1,855,826
1,364,057
1,060.644
886,912
739,382
645,000
574,966
523,838
502,837
494,126
478,280
450,000
404,908
400,000
390,741
325,000
271,314
250,185
214,317
153,938
37,547
306,930,751 +18.3
Tot.Mid.West_
363,207.576
San Francisco._ _
Los Angeles
Seattle
Portland
Spokane
Salt Lake City.Tacoma
Oakland
Sacramento
San Diego
Helena
Fargo
Stockton
SanJose
Fresno
Sioux Falls
Billings
North Yakima..
36,412,691
13,344,745
12,749,674
7,900,000
4,081,104
6,629,138
5,366,394
1.838,611
1,164,000
989,000
837.054
701,608
633,548
535,392
510,542
530,000
198,910
410,993
35,651,514
10,076,425
9,876,380
6,002,619
2,953,021
4,500,132
4,054,785
1,572,206
887,000
877,000
761,180
627,024
525,473
488,532
453,397
450,000
228,146
224,184
Total Pacific
94,833,404
Kansas City_ -_ Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Topeka
Lincoln
Davenport
Colorado Springs
Cedar Rapids_ _
Pueblo
Fremont
Duluth
1907.
The
1908.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis _ __ Columbus
Toledo
Peoria
Grand Rapids_ _
Evansville
Day ton
Kalamazoo
Springfield, Ill
Fort Wayne ___ Akron
Youngstown _ _ -Decatur
Lexington
Rockford
Bloomington_ _
Quincy
Springfield. 0.-Canton
South Bend
Jackson
Mansfield
Danville
Jacksonville. Ill_
Ann Arbor
Adrian
24.825,394
26,570,25
17,535.90
18,866,448
11,463.56/.
8 312,51
.269,6f
849.3'
? 483,CE
299,3 A
•733,f 1
004,18
148,4/0
704,19
811,21
750,00
716,77
(91.89
(73,20
390,98
278,32
368,12
325,30
550,37
484,27
1135,94
228,31
4 11
+ 13.1
+21.1
+19.4
+21.8
+18.7
+25.7
-1.4
+0.5
+20.3
+9.5
+35.9
+21.0
+23.8
+21.0
+48.1
+50.5
-7.2
+16.8
+32.5;
-4.3'
+11.4
+34.8
+68.9
+24.4
+15.2
+33-0
+67.6
+46.7
-9.1
-17.0
34,45
t22,56
40,00
+2.1
+32.4
+29.0
+31.6
+38.2
+47.3
+32.4
+16.9
+31.2
+12.8
+10.0
+11.9
+20.6
+9.6
+12.6
+17.8
+12.8
+83.3
1906.
196,861,581
23,282,750
16,274,716
12,908,397
9,254,923
7,075,001
4,543,100
3,812,556
2.792,117
2,239,844
1,587,366
1,809,805
876,294
727,270
766,889
651,917
513,674
318,196
549,173
574,965
332,851
257,154
287,372
610,682
414,883
216,261
320,131
254,909
97.769
316 408.811
290,112.546
43,550,27
11,233,70
9,784,44
7.815,23
2,787,88
5,983,98
4,763,90
2,487,164
44,642,820
11,456,954
8,718,407
5,391.693
2,150.400
5.145,426
3,602,577
3.946,803
939,02
554,78
557,82
601,78
851g05
399,286
405,000
329,176
83,161.982 +14.0
91,365,012
8(.018,659
46,951,554
39,205,257 +19.8
17,018,019
14,520,275 +17.9
11,675,196
+9.9
12,828,047
9,016,098 -5.2
8,551,288
8,243.087
7,827,461
+5.3
4,93Q,434 +22.2
6,024,785
3,126,017
2,454,568 +27.4
1,817,936 +25.9
2,288,908
1,480,119 +95.7
2.897,907
1,082,716 +17.8
1.275,631
1,018,522 +54.4
1,572,827
937,098 +4.9
983,023
773,184 +0.3
775,721
659,618 +54.7
1,020,238
477,009 +15.8
552,227
420,536 -20.1
336,118
2,186,373 Not included in total
34,272.67
19,143,383
10,801,39
8,072,347
7,824,80.
4,785,01
2,722,39
1,732,01
1,224,5
790,62
1,050,82
886,92
749,33
631,13
632,04
465,48
23,599,799
13,391,488
9.146,396
7,388,633
6,732,978
4,279,479
2'090,793
1,438,153
1.202,114
895,077
1.064,529
699,441
709,771
456,323
537,605
267,066
95,1'84,96
13.899,645
61,955,381
15,142,671
10.672,779
11,808,752
4,766,500
6,462,928
5,173,615
3,939,636
.5.874,032
3,446,418
2.835,500
2,427,007
1,763,190
1.246,875
1,645,481
1,231,553
1,550,000
1,207,272
1,253,702
1,528,287
912,839
800,000
716,361
532,162
194,535
62,491,166
10,962,716
10,117,038
9,371,267
5,226,500
4,809,405
4.351,282
3,545,721
3,344,542
3,043,483
2,577,752
1,583,538
1,626,723
1.390,663
1,323.053
1,267,556
1,076,000
1,040,000
986,293
910,359
890,000
487,002
486,054
352,963
237,461
-0.9
+38.1
+5.5
+26.0
-8.8
+34.4
+18.9
+11.1
+75.6
+13.2
+10.0
+53.3
+8.4
-10.4
+24.3
-2.8
+44.2
+16.1
+27.1
+67.9
+2.6
+64.3
+47.4
+50.8
-18.1
60,785,58
15.321,71:
12,787,39
12,035,51
5,188.
6,050,0
3,471,93
3,164,19
4,183,85
4,030,87
2.670,53
2,231.44
1,970,42
1,450,0
1,424,79
1,391.25
814,43
1,135,06
1,414,35
1,156,75
900,00
456,50
644,64
53.637,841
15,393.156
11,238.968
9,803.537
6,816,000
4.700,000
2.801,639
2,907.192
3,845,257
2,993,942
3,476,312
2,036,601
1,836,520
1.190.324
1,170,183
1.168,996
678,453
976,811
1.564,698
913,774
836,294
455,996
400,000
Total Southern
149,087,476
133,497.441 +11.7
144,579,27
129,764,041
Tot. 0th. West
114,445.397
98,296,027 +16.4
383,312
St. Louis
New Orleans..-Louisville
Houston
Galveston
Richmond
Fort Worth
Memphis
Atlanta
Nashville
Savannah
Norfolk
Birmingham - -.
Chattanooga
Jacksonville - -.
Knoxville
Oklahoma
Augusta
Mobile
Little Rock
Charleston
Macon
Beaumont
Austin
Vicksburg
Total all.,----- 3,093,844.025 2,492,006,526 +24.1 2,806,821.509 2,671,106,566
Outside N. Y. 1,122,763.333
160,281,166
7,589,900
3,581,487
2,366,663
1,705,193
1,850,000
1,756,932
882,916
' 721,250
561,827
417,564
144,942,285
7,091,700
2,880,940
2,184,348
1,997,390
1,637,301
1,511,036
764,243
675,387
499,393
425,488
CanadaMontreal
Toronto
Winnipeg
Vanco
Ottawa..........
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria
Edmonton
181,714.898
164,599,511
Total Canada_
2,202,986,425 1,709,563.865 +28.9 1,954.182.549 1,923,562,168
149,210.030 141,234,242 +5.6
6,529,900
5,943,800 +9.9
3,258,607
2,997,730 +8.7
2,284,968
2,154,982 +6.0
1,708.052
2,628,944 -35.0
1,900,000
1,665,000 +14.1
1,704,517
1,571,003 +8.5
721,376 +18.3
853,608
951.255
781,429 +21.8
482,810
459,037 +5.2
398,917 +0.3
400,001
14.
V
1909.
PUBLISHED WEEKLY.
Clearings-Returns by telegraph Aug. 21.
NO. 2304.
Week endi
Clearings at-
Terms of Subscription-Payable in Advance
Boston
Providence
Hartford
New Haven
Portland
Springfield
Worcester
Fall River
New Bedford_ _
Lowell
Holyoke
Electric Railway Section
State and City Section
973,753,093
1,098,903.241
977,329,824
35,416,900
24,661,260
10.017,780
5.677,946
3,392,702
2,174,949
2,259,924
1,528,964
1,431,615
1,687,458
1,291,520
1.324,677
1,001,033
26,992,999
21,168,507
7,988,954
3,441,231
3.070,759
2,235,258
1,812,807
1,322,967
1,255,009
1,216,660
1,042,030
1,057,845
716,086
+31.2
+16.5
+25.4
+65.0
+10.5
-2.7
+24.6
+15.6
+14.1
+38.7
+23.9
+25.2
+39.8
28,772,01
23,319,8
10,623,57
3,701,07
2,871,96
2,203,24
1,807,631
1,661,08
1,189,71
1,227,47
1,404,48
969,44
1,004,67
26.697,439
21,125,549
8,730,779
2.720,486
2,794,015
1,700.938
1,654,701
1,517,732
1,195,942
925,212
1,127,937
881,389
710,922
91,866,746
73.321,112 +25.3
80,766,180
71,783,041
*flits year's clearings considerably increased by out-of-Sown olearings department:
434
THE CHRONICLE
OUR RAILWAY EARNINGS ISSUE.
We send to our subscribers to-day a new number
of our "Railway Earnings Section." In this publication we give the figures of earnings and expenses for
the latest month of every operating steam railroad in
the United States, big and little, which is required
to file monthly returns with the Inter-State Commerce
Commission at Washington—altogether over 800
roads, or systems, comprising an aggregate of more
than 230,000 miles of line.
THE FINANCIAL SITUATION.
To many persons it is a mystery how the tremendous
advance in Stock Exchange values which has this week
received such a severe check could have been brought
about in the absence of any very extensive speculation upon the part of the public at large. This
advance was in progress all through 1908 and has
continued during 1909 with only occasional interruptions. Yet Stock Exchange houses are pretty
generally agreed that the outside public has not been
present in the market to any great extent. The
professional and the semi-professional element are
always in evidence and their trading is certain to
reach large proportions when the tendency of prices is
strongly upward; but these form a class distinct from
the general run of outsiders, made up of business men
and others, who enter the Stock Exchange arena
only at times of great speculative excitement. Nor
is it strange that these outsiders should have been
absent, considering that during 1908 our industries
were in a state of such extreme collapse that it would
be hard to find a parallel thereto in the country's
history. The volume of business was at an extremely
low ebb; profits were either very meagre or absolutely
nil; dividends were reduced or omitted, and income
from investments dwindled. With profits thus cut off,
the average man has had little or no surplus to employ
for the purpose of taking "a flyer" in the stock market.
This makes the prodigious advance which has
occurred all the more noteworthy, however, for such
a great rise in the absence of outside support is a rare
phenomenon. It seems to us that in seeking for
an explanation,not enough prominence is given to the
part which banks, and financial institutions generally,
have played in aiding the rise. Money rates have been
extremely low and the banks have had a superabundance of funds which they have found it difficult
to employ. There has accordingly been great anxiety
to get out surplus supplies of money, and in the resulting .competition between money-lenders, increased
readiness to grant loans has developed, while there
has not been the same close scrutiny of collaterals as
at other times. Easy money and easy terms upon
which to obtain it have always been potent factors
in stimulating a rise upon the Stock Exchange. An
examination of the loan column of our financial
institutions gives a clue to what has been going on in
this respect. By last Saturday's Clearing-House
statement the loans of our Clearing-House institutions
(according to the weekly figures of averages) aggregated $1,360,731,900, against $1,273,220,700 at the
beginning of 1909, and only $1,122,871,800 at the
beginning of 1908.
The increase here is substantial, though if it stood
alone it might not possess any special significance.
[VOL. Lxxxxx.
The Clearing-House figures, however, of and by
themselves no longer furnish a reliable guide to the
course of loans in this city. In recent times the trust
companies have become a growing power in the money
market, and this has been particularly true since the
recovery after the panic of 1907. Weekly returns
of the trust companies are now available, the same
as for the Clearing House banks, and the loans of
these institutions show a very noteworthy expansion.
Last week the New York City trust companies, together with the State banks not in the Clearing House,
reported aggregate loans of $1,206,903,600. This
compares with only $1,061,461,400 on January 2
1909 and but $770,262,800 at the beginning of February last year. Here then we have an addition in
eighteen months of over $436,000,000. We have
selected February last year for comparison because
no weekly returns for the trust companies were issued
prior to that time. Combining the loan item for
the Clearing-House banks with the corresponding
item for the trust companies, it is found that the
aggregate loans for the two classes of institutions last
Saturday were $2,567,635,500, against only $2,334,682,100 January 2 1909 and but $1,910,018,500
on Feburary 8 last year. Thus there has been an
addition to the total in eighteen months of over
$657,000,000. No one will pretend that the demand
from merchants for accommodation accounts for more
than a very small part of this increase.
Our financial institutions have in many instances
helped the rise by direct purchases and investment, as
well as by freedom in granting loans. This is a feature
of their activities which is usually overlooked. When
money rates are high and funds can be employed to
advantage in theloan market,banks and trust companies
prefer to put their money out in that way rather than
in the making of investments. On the other hand,
when money rates are low and the demand for loans is
not sufficient to furnish profitable employment for
their funds, they are likely to buy securities and earn
a return in that way: This appears to be precisely
what they have been doing during the last year and
a half. It seems correct, too, to say that they have
from time to time been changing their investments,
realizing on those that showed a good profit and using
the proceeds in making new purchases of other securities. Inquiry into the subject has been suggested
by the remark of a bank man that his institution
could not expect to earn its existing dividends at the
prevailing money rates, but that profits from investments would Much more than make up any shortage.
In speaking above of the loans of the ClearingHouse banks and also of the trust companies, we have
treated the item as if it really and exclusively represented loans. As a matter of fact, the figures include
investments as well as loans, the proper reading of
the item being "Loans and Investments." There is
no way of separating the loans from the investments in
these weekly returns, but there is good reason for
thinking that no inconsiderable portion of the increase
of $657,000,000 during the last eighteen months shown
above represents purchases of securities, or, technically, "investments." Moreover, banks and financial
institutions in other parts of the country have been
pursuing the same policy. Under their returns to
the Comptroller of the Currency the national banks
are obliged to show their security holdings as a separ-
AUG. 21 1909.i
THE CHRONICLE
ate item. The last such return is of date June 23; at
that time the aggregate of the security holdings (not
including United States bonds) of all the national banks
in the country was $877,050,633. This compares with
only $714,043,089 on Feb. 14 1908. The increase, it
will be observed, has been $163,000,000, and of this
only about $15,000,000 is supplied by the national
banks of this city.
When we examine the statements of the trust companies, yet more conclusive evidence is furnished
of the increase in security holdings. In this case
the latest detailed returns come down only to April 28
1909. Taking the aggregates of the trust companies
for the whole State of New York, we find that the
holdings of "public" securities between March 25 1908
and April 28 1909 increased from $54,118,559 to
$80,889,979, and the holdings of "other" securities
from $205,652,115 to $310,413,461. The increase in
the one case is $26,000,000 and in the other case
$105,000,000, making $131,000,000 together, and
doubtless since April there has been further expansion.
In this case, of course, the bulk of the increase is
supplied by the trust companies at this centre.
It seems unnecessary to pursue the investigation
any further, as the figures given suffice to demonstrate
that in their own purchases for investment our
financial institutions must have contributed in no
unimportant degree to the rise. And the influence
of these purchases would be further accentuated by
extensive turning over of the investments; that is, by
selling such securities as netted a handsome profit and
making new purchases with a view to gaining other
profits.
That national legislators are not yet through with
the railroads is indicated by an interview with Senator
Burton of Ohio which was published in the daily
newspapers this week. Advocating a greater use of
the natural waterways, Senator Burton. says that
capitalists are deterred from investing in ri,ver transportation lines for the reason that railroads will drive
the boats out of business by making rates between
competitive. points so low that the water lines cannot
make a profit. He proposes as a remedy the enactment of a law by Congress which will fix minimum
freight rates for inter-State traffic, so as to insure a
reasonable profit to the carrier whether the transportation be conducted by rail or by water.
If the tactics suggested by Senator Burton are practiced by the railroads, then it appears that transportation companies have adopted a method which is
quite commonly in use by corporations in the ordinary
pursuits of life. It was shown some time ago by.testimony in court that it was not uncommon for the
Standard Oil Co. to reduce the price of refined oil so low
that competitors would be compelled to withdraw from
the field. Such methods are so common that they
may be said to be practiced in every branch of trade.
It is one of the results of competition whereby for a
time the consumer is benefited. That a principle so
universally adopted should be applied by the railroads
when their managers deem that it is necessary to
make use of it in order to retain traffic, is not at all
surprising.
But why should a railroad company not be allowed
to defend itself and protect its business by the same
methods that are utilized by every other branch of
435
business? Rarely does it occur that capital invested in
transportation obtains a return greater than 6%.
Seldom does the interest on bonds issued by such companies exceed the rate of 5%. Millions of dollars
invested in stocks of the railroads receive no return
whatever and dividends paid in excess of 6% are the
exception. In manufacturing and in mercantile trade
profits are far in excess of these rates. Since capital
invested in railroads, therefore, is receiving only a
moderate return for the risks incurred, why should it
be further embarrassed by the enactment of laws which
are not applicable to other branches. of business?
Surely it is time that railroad baiting should end.
During the past year there has been less nagging of the
transportation companies by the several States and it
will be well if the national law-makers take their cue
from the legislators who are closer to the people than
are the representatives at Washington.
The proposition to put the telegraph and telephone
also in the overburdened hands of the Public Service
Commission was dismissed for the present, in the last
session of the New York Legislature, by the familiar
device of ordering an "investigation." The committee therefor was named by the two branches of the
Legislature, without participation by Gov. Hughes
or any apparent consultation with him, and the committee has now organized, ready to begin its ostensible
work early in September. For some reason Gov.
Hughes failed to put quite everything into his Public
Service Commission in the first place, and he has been
in an uneasy state about it ever since, although the
best reason he has been able to cite is that, for the
sake of completeness and consistency, the Commission
ought to control telegraphing and telephoning, having
already been set over everything else.
The plea has no validity. Should a man who has
openly broken nine of the commandments go on to
break the tenth, that consistency and completeness
may be satisfied? The telegraph and telephone business are doing well as they are and to great public
satisfaction on the whole. This is particularly true
of the latter, and we need not repeat some figures heretofore given to show how vast is the development of
the telephone, especially, in this city; when the magnitude and complexity of its business, and also the constant forecast needed for making new plant and exchanges keep pace with the growing use are properly
considered,it is clear to any good business mind that
the management of this is quite enough for one exclusive set of.persons: The politician, always ready
to rush in where men of information and caution hesitate, may think it right to set an outside board upon
the work; but to practical men the thing is preposterous.
Aside from that, there is something in the appearance on the scene of an investigating committee that
ought to strike us as grotesque and give us pause.
The committee is ostensibly to inquire whether the
Commission should have this additional control; it
may go further to an investigation of the Commission
itself. If so, and if the members are practical men,
they may perhaps come to what we conceive to be
the general view regarding the uselessness of the whole
affair. Yet, aside from that, consider how far a:theoretical paternalism and regulation has gone, when first
we have a Commission set up as managers of nearly
436
THE CHRONICLE
all private business which is affected with a public
obligation, and then presently we have a committee
to investigate the Commission. Is not the natural
next step a committee to look into the investigating
committee, and where will the process of superimposing one piece of meddling upon another come to a rest?
The Metropolitan Life Insurance Co., which has
outstanding over nine millions of industrial policies,
for nearly a billion and a half of dollars, has been
during a year past maturing plans for lessening the
mortality rate, particularly for checking the ravages of
tuberculosis among its own policy-holders. To this
end, it secured an option on a tract of land upon
which it proposed erecting a sanitarium, and applied
for official permission (which has now been refused)
to erect a building thereon. The statistics it presented are certainly startling. The mortality among
the company's policy-holders in 1907 was at the
average rate of one death every six minutes and one
sixth of the deaths were from consumption. Of the
total deaths of males, 18.29 per cent were consumptive;
of females, 15.82 per cent. In 1907, one policyholder died from consumption every 32 minutes; in
1908, the deaths from that increased 44 per cent over
1898. Lest this might appear to have some relation
of excess towards industrial insurance, the estimate
is added that, over the entire country in general,
consumption causes about one-third of the annual
deaths between the ages of 25 and 50; between 20
and 35, more than one-half. It is proved, by all life
insurance statistics to be the most active and deadly
single disease in the list.
Now the Metropolitan calculates that the campaign
of ,prevention which it is planning (to consist partly
of treatment and partly of education) may reduce
the consumptive deaths approximately one-third.
The slower the mortality, the longer people live to pay
premiums; therefore, the lower the premium rate can
be. Putting aside the humanitarian side and the
plain fact that retarding the mortality rate means
an economic gain, the hard-headed business view
is that an insurance company cannot be better employed than in using any preventive means which are
reasonably sure of being practical and effective. As
an example, one company which insures against boiler
explosions collected in 1908 $1,157,586 in premiums
and paid $90,935 in losses; but this does not mean
an exceptional profit, for $468,243 was spent on
the inspections which kept the losses down. Similarly,
the Metropolitan is. ready to expend $100,000 a
year upon this crusade against disease, as a business
proposition, and it will reduce rates just as soon and
as far as reduced mortality burdens permit.
It has entered upon an educational work by sending
out several million copies, in several languages,
of a popular treatise of explanation and aid,on the
deatils of which we need not expend any space.
But the proposed building meets the statutory limitation upon acquiring real estate to "such as shall
be requisite for its convenient (once the word was
'immediate') accommodation in the transaction of its
business." Under the present law, consent of the
Department must be had before any new acquirement
of real property, and the company applied for such
consent, setting forth the case with more detail than
we have used above, adding that the safety and
[VOL. rxxxrx.
effectiveness of its own large office force and work
are considerably involved in the matter.
If this particular work is to be undertaken, the
building is necessary, not merely "convenient", and
anything which reasonably promises to reduce mortality and therefore cost, must surely rank as a proper
part of the "business" of life insurance. Yet Commissioner Hotchkiss has refused consent. The memorandum he files makes a fairly good case, from the
viewpoint of narrow technical construction; he holds
that the Legislature could not have intended anything
beyond the "business" of routine and that the obvious
aim, from the law of 1849 down,has been to closely restrict insurance companies in ownership of real property.
As a strict and narrow view, we have no criticism
upon Mr. Hotchkiss' decision, and we refer to the
subject simply as showing how obstructively supervision is working. The underlying theory of legislation has long been that the individual policyholder in
life insurance needs to have his rights safeguarded
against the assumed greed of "the company;" witness
the present insistence upon annual dividends, for
example. Moreover, a great outcry has been raised
against the assertedly needless expense in industrial
business, and one result of this cry was the present
scheme of "savings bank" insurance in Massachusetts.
Yet when a law was passed at the late session authorizing the industrial companies to allow special rates
to persons who combine in blocks of at least 100
and pay premiums through a single person, the
Fraternals and the assessment societies denounced it
as a blow upon themselves and Governor Hughes
vetoed it. And now when an attempt is made to do
something large for the policy-holder, prolonging his
life and lowering his insurance cost, the law blocks
the way.
This is protective supervision converting itself,
by a natural development, into obstruction. The
spirit in which it treats the whole subject is narrow,
restrictive and hostile. It is seeking, not to facilitate
and further life insurance work, but to burden and
retard. It is worse than the increasing load of
taxation, in that it is purposely a hindrance.
There appeared to be a decided improvement in
the industrial, political and military situation in
Europe this week. The socialistic demonstrations at
Stockholm were less violent; the strikers have failed
to gain recruits to their ranks from dissatisfied railroad
employees and normal traffic and manufacturing
conditions are being restored; late advices report that
the strikers are negotiating with employers for resumption of work. About 10,000 men have returned to
their labor, while rebellion against the union is
developing.
The Cretan incident was closed this week. The
protective powers, which had assembled their fleets
for the purpose of enforcing demands for the abandonment of offensive operations against Turkey, gave
notice to the Cretans last week that the Grecian flag
that was raised over the Canean fort after the withdrawal of the international fleet in July must be
removed. The Cretan Government refused to comply
with the demand and it resigned. The representatives
of the Powers then prepared to take decisive action
and the Cretans were advised by their authorities to
refrain from opposition. On Wednesday a detail of
AvG, 21 1909.]
THE CHRONICLE
sailors was landed and, by a well-directed shot, the
flagstaff was demolished and the Greek emblem was
removed. With the exception of boycotting of Greek
by Turkish merchants, conditions in this section are
peaceful. A Constantinople dispatch says that the
boycott is now assuming a more serious form, affecting
all vessels arriving at Turkish ports; the Greek Minister
has protested to the Porte which, though acting with
energy, has been unable to effect a relaxation of the
boycott. The foreign embassies are represented as
greatly concerned regarding the trade relations between
Turkey and Greece, which appear to be developing a
dangerous tension.
News from Morocco this week records more vigorous
military operations by the Spanish forces against the
Moors. A Madrid cable had a report from Melilla
that a Spanish cruiser was bombarding Nador, a point
on the Moroccan coast where the Moors are concentrating. General Marina, the Spanish commander,
has sent a column of troops by sea to a location down
the coast in the expectation of turning the position
of the Riffs on Guruga Mountain, which movement
will be supported by the main army that will move in
the direction of Nador. Should these operations be
successful and the advantages intended thereby be
obtained, there is reason to believe that the campaign
will soon be ended. On Thursday it was reported from
Tangier that the Sultan of Morocco had ordered a
suspension of Moorish activities.
A Madrid dispatch to the "London Daily Mail"
quotes Prime Minister Moura as saying that the
operations against the Moors are not likely to be
protracted. He admitted that they were unpopular
but insisted that they had been forced upon the
Government. "So far as Spain is concerned," he
said, "we are changing the conscription law so that it
cannot be said in future that the rich escape the
responsibility of serving their country in the field. A
duke or a marquis in future will take his place in the
ranks alongside a workman. The only privilege he
will be allowed is that of living outside the barracks."
Arrangements have been made for the transfer,
through the Treasury, at intervals during September,
of two parcels more of American gold coin aggregating
3 million dollars, for the account of Japan; one portion
will be transferred early in the month and the other
about Sept. 15. It is said that the transfer operation,
which began with 1 million in the first week of August,
will be completed with that which has now been
arranged. In that case the total transferred in the
manner and for the object heretofore stated will be
VA millions, presumedly leaving about 7% millions
of Japanese credits in London undisturbed.
After a suspension of shipments hence to Argentina
of gold on London account, the last export thereto
being a fortnight ago, the movement was resumed this
week,when 134 million was sent forward. The resumption of exports does not seem to indicate that
shipments hereafter will be continuous; much will
depend upon the condition of exchange on London at
Buenos Ayres and New York and also upon the kind
of coin that will be satisfying to the consignee. American coin is, in great part, in request in Argentina for
circulation, and eagles are therefore preferred. .Coin
of the ten-dollar denomination is, however, not readily
procurable here; the supply in the Sub-Treasury being
437
needed to meet requisitions from banks, and the latter
hesitating to part with their stock, particularly when
it is wanted for export to South America, whence it
does not promptly return. Therefore the volume of the
exports to Argentina will probably be small unless,
indeed, there shall be such an urgent inquiry therefor
as to cause the consignees to accept gold of higher
denominations than ten dollars.
As has hereinbefore been noted by us, Canadian
banks have latterly been recalling the credits which
they employed in our market while awaiting an inquiry
for funds from their Dominion correspondents for cropdistribution purposes. This week an export of $200,000
American coin to Canada was reported; this may
indicate such a demand for cash in the Dominion for
crop-moving needs as to cause Canadian importations of American gold to become important. Should
this movement be large, it seems likely that it might
affect rates for money, and possibly exchange at
New York on London, and stimulate shipments
hither of gold from the British capital.
Cotton standards—or standards of the different
grades of cotton—as provided for in the Act making
appropriations for the Department of Agriculture for
the year ending June 30 1909 have now been prepared. The Act referred to provides for standards of
nine different grades, ranging from good ordinary to
middling fair, using middling cotton (the first standard to be fixed) as the basis. Under authority of the
Act, Secretary Wilson appointed a committee of
representative cotton men, under the chairmanship
of Mr. Nathaniel N. Thayer of Boston, and they reported in February last, as we announced at the time,
in favor of the Liverpool types as the national standard of grades for this country. At the original conference that resulted in the selection of the standard,
antagonism to the compulsory introduction of the
cotton grades by Federal law developed and resulted
in the abandonment of any attempt in that direction.
The Secretary of Agriculture recently announced that
the committee 'selected to prepare the standards,
after due deliberation, presented a unanimous report,
fixing the grades and making certain recommendations
connected therewith, which he approves. The grades,
however, will not be promulgated for general use in
trade prior to Sept. 1 1910, as contracts are made for
cotton in advance of the ensuing season. But that
the cotton trade may become fully acquainted with
the grades, sets will be placed in the hands of a limited
number of exchanges, associations, &c., in a short
time. As the grades have been established by agreement rather than by compulsory act of Government,
there is little doubt but that they will be strictly
lived up to by the various responsible exchanges
of the country.
Our foreign export movement of merchandise in
July, as indicated by the official trade statement
issued on Tuesday, even though a little larger than in
the same month of the previous year, was of noticeably
restricted volume, as contrasted with recent earlier
years. While this is in part explained by a smaller
outward movement of breadstuffs, the shipments of
most other commodities were also smaller than they
would be with the demand from abroad on a normal
basis. The total of merchandise exports at $109,452,-
438
THE CHRONICLE
VOL. Lxxxxx.
334 was, with the exception of the extremely small est for any corresponding period back to 1897. It
1 contrasts with $372,110,441 in 1908—the largest
movement of July 1908 (over which a gain of 64
million dollars is exhibited), the lowest of any month for the period included—$193,098,831 in 1907 and
since July 1905, the decline from July 1907 reaching $229,584,223 in 1906.
Gold continued to move away from the United States
19 millions and from 1906 over 2 millions. Shipments of breadstuffs were a little in excess of June, during July, mainly of course from the port of New
but smaller than for any prior month back to July York, and largely to Argentina. The net export for
1905. They were only $6,516,834, against $8,616,134 the month from the whole country was $13,391,897,
in July 1908 and $10,869,246 in 1907, the decrease in bringing the net outward movement for the seven
wheat and wheat flour accounting for losses shown. months of 1909 up to $57,090,642. In July 1908 the
Provisions exports, too, were moderately below those flow in either direction was quite moderate and refor the month a year ago;so was the outflow of mineral sulted in a net export of $1,896,093, with the seven
months' balance $29,006,172 on the same side of the
oil and cattle and hogs.
But these decreases were in large part offset by a account.
gain in raw cotton exports, which reached a value of
$10,500,371, or over 4 millions of dollars in excess
The cotton-manufacturing industry at Fall River
1908.
The
aggregate
value
of
a favorable dividend exhibit for the third
July
makes
the various
of
was,
referred
to
consequently,
of 1909, notwithstanding curtailment of
quarter
,items
$36,172,511, or
about 134 millions less than for July last year, and profits due to the narrowing of the margin between
891 millions smaller than in the month of 1907. the cost of cotton and the selling prices for goods.
As we have heretofore intimated, one of the satis- In that respect, however, conditions have not been
factory features (and they are not numerous) of the materially different than they were in the preceding
current year's export trade has been the marked quarter, and it is therefore all the more worthy of note
augmentation in the outflow of cotton manufactures, that the manufacturers followed in May the course
largely due to a much better demand from China, pursued last November of abrogating their right to
but also to some extent ascribable to increasing reduce wages under the operations of the sliding scale.
shipments to the West Indies, South America and the While tariff discussion was during much of the period
East Indies. The movement to China has been con- a deterrent to active operations, the indisposition of
spicuously large, the July shipments from New York manufacturers to sell at ruling quotations was the
to that country being greater than for the seven important factor in keeping new transactions within
months (Jan. 1 to July 31) in 1908. For the seven moderate limits most of the time. Mills, however, are
months of the calendar year 1909 the total mer- on the whole quite well under contract for some months
chandise exports were $897,405,504, or a decrease to come.
For the third quarter this year the distribution on
of 833/b millions from the like period of 1908; a decline
of 1713/i millions from 1907, a loss of 78 millions from a capitalization of $25,475,000 reaches $411,125, or
an average of 1.61%, shareholders in all of the 35 mills
1906 and a gain of only 483/2 millions over 1905.
Imports of merchandise during July, on the other our compilation covers benefiting thereby. A conhand, while 123/ millions of dollars less than in June, servative policy as regards dividends has been followed,
were of comparatively full volume for the time of as is attested by the fact that 28 of the number have
year. They: aggregated $112,290,196, against but merely retained the preceding year's rate, 5 have in$86,435,493 in the month of 1908 and 1243 millions creased and 2 decreased the amount paid out. In the
in 1907—this last the high mark for July. To some third quarter of 1908 stockholders received in the
extent, of course, the movement of commodities upon aggregate $11,000 less than in the current year, or
which higher rates of duty have been established by an average of 1.59% on their investment; but in 1907
the new tariff law was accelerated during July, but the distribution amounted to $664,850, or 2.70%. In
where a lowering of the customs impost had been the preceding decade the highest rate was 1.81% in
decided upon 'goods were held back pending the 1900 and the lowest 0.48% in 1897.
For the nine months the result to stockholders,
passage of the Act. Passing any discussion of the
tariff as a temporary retarding or stimulating influence while not as good as in 1907, is satisfactory and above
on imports, the fact remains that most descriptions the average of recent years. The 35 corporations paid
of merchandise came in much more freely than in July out collectively $1,490,375 on a capital of $25,475,000,
1908, with a noticeably large increase in the inflow of or an average of 5.85%, which contrasts with 5.42%
diamonds and other precious stones. The total im- in the like period of 1908, 7.27% in 1907 and 4.87%
portations of merchandise for the seven months of in 1906. The lowest nine-months rate in our record
1909, at $830,287,488, record an increa,se of 2213 is 1.33% for 1898.
The outlook for the future, and therefore the mainmillions over the like period, of 1908 and a loss of
453/i
only
year
1907—the
showing taining of satisfactory dividend payments,is considered
only
millions from
one.
to be encouraging. At the moment manufacturers
. a heavier aggregate than the, current
trade
The net results of our foreign
movement in are somewhat adverse to entering into more contracts,
of
$2,837,862, this owing to uncertainty as to cost of cotton; but as the
July was a balance of imports
$7,245,540
in June. production of looms has been well sold to the close of
follow* a similar balance of
month
every
•
since
With these two exceptions
June the year, no anxiety is being felt. That there is conexport
balance.
In fidence in the continued prosperity of the mills is mani1897 has shown a favorable or
was
balance
July 1908, in fact, the export
$16,764,083; fested by the fact that their securities are being more
in 1907 it reached $3,927,642, and in 1905 was over favorably considered by investors than ever before in
23 millions. Furthermore, ,for the seven months of the history of the corporations,
1909 the export balance, at $67,138,016, was the small
AUG. 21
1909.j
THE CHRONICLE
439
The advance sheets of the ninth annual crop report, the basis of deposits less those of $1,621,20
0 public
issued August 16 by the Commercial National Bank funds, the surplus was $23,110,900.
of Chicago, forcast a marvelous yield of cereals the
present year. From all indications 1909 will be a
The market for money was again firm this week.
banner year, perhaps almost a record year. This The resumption of exports of gold to Argentina
was
repOrt, which agrees in all essentials with the Govern- one factor contributing to the firmer tone,
as also was
ment investigation and also with the researches of the announcement that, by the middle of next
month,
• private authorities, is based upon answers to in- there would be transferred through the Treasury
from
quiries made of over four thousand bankers, business New York to San Francisco, and thence be
shipped to
houses and crop authorities in all the States of the Japan 3 millions gold. The export of a small
amount
Central West, West and South.
of that metal to Canada had a sentimental effect, for
Despite the unpropitious opening of the year, the it seemed to indicate that the Dominion
bankers were
wheat crop, aggregating, according to this Chicago likely to experience a more or less
continuous demand
authority, 735,049,000 bushels, will nearly equal for cash in order to assist in moving
the crops to the
that of the year 1906, and thus becomes the third distributing points and to the
outports; the coincilargest crop ever harvested.
dent withdrawal of interior balances from New York
In all parts of the continent winter wheat was showed that requirements for funds
for our crop distriplanted with but little promise, but conditions changed bution were gradually increasing. The
liquidation in
materially during the ripening stage and the final stocks is said to have an important
influence upon the
yield is given as over 444,000,000 bushels, which inquiry for money
for market uses; where stocks had
would be 10,000,000 bushels ahead of the previous been bought at
low prices and were liquidated at higher
year, with 6% less acreage. Spring wheat, planted figures the new
purchasers had to provide a larger
under excellent conditions with its seeded acreage margin for the
new commitments and the aggregate
increased 7%, promises 290,550,000 bushels, thus of increased
borrowing had a very decided effect upon
being on a par with the previous record crop. The the market
for money, especially that for call and for
wheat farmer will profit as much from high prices as short maturities
. So far as new supply was confrom a large yield. Grain has come to the market cerned there did
not appear to be any large contribuat an average higher than last year, where early tion thereto by foreign
bankers through offerings
marketings in the Southwest were sold at 75 to 80 of European capital; the market
for exchange was
cents a bushel; while the early marketings this year such as not to encourage such
operations and bankers
over the entire winter belt has been from $1 to $1 15. were disposed to await a more favorable
opportunity.
The returns for the corn crop indicate a yield of
Money on call, representing bank and trust com2,974,000,000 bushels harvested on a materially pany balances, loaned at the Stock
Exchange during
increased acreage., Texas, which has made great the week at 23/i and at 2%, averaging
about 23%;
strides the last few years as a corn-producing State, all lending institutions quoted
2% as the minimum.
will not maintain its average this year, says the Time loans on good mixed
Stock Exchange collateral
Commercial National Bank of Chicago. Only two were in request. Rates
were 3% for sixty and 332%
States—Illinois and Iowa—will exceed Texasin acreage, for ninety days, 33
4% for four and 4@43 for five to
but the heavy drought and severe heat in the latter six months.. The
commercial paper market is quiet
State have proved such handicaps that only half a and without special
feature; banks and other lenders
crop can be expected. The period of growth for have, at the moment,
better employment for their
corn has reached that state now that only cutting funds than in the purchase
of paper for investment.
down by frost is to be feared, and that will cause no Rates are 4@4%% for choice
sixty to ninety-day
serious loss unless the frosts come early. Eighty endorsed bills receivable and
434@4%% for highper cent of the corn crop is consumed by the farmers grade four to six months' single
names.
in the fattening of hogs and cattle and raising them
for market. The value of these animals determines
The Bank of England rate of discount remains unlargely the final value of the corn crop. An im- changed at 23/2%.
The eable reports discounts of
mense crop means a large production of hogs and sixty to ninety-day
bank bills in London 13' @
cattle and development of great prosperity for the 1%%. The open market
rate at Paris is 1370 and at
farmer. The surplus yields of the West will be sent Berlin and Frankfort
it is 23/i ®23%. According to our
East and South for feeding purposes, and this wider special cable from London
the Bank of England gained
dispersion will be a factor in maintaining the corn £802,388 bullien
during the week and held £39,942,597
at a higher price than has usually been the case in at the close of the week. Our
correspondent further
banner years. The oats crop, it is computed, will advises us that the gain was
due largely to purchases in
reach 940,000,000 bushels, nearly one hundred the open market. The details of the
movement into
million bushels increase over last year. Ohio, Indiana and out of the Bank were as follows:
Imports,£144,000
and Illinois all promise big returns.
(of which £11,000 from France and £133,000 bought
in the open market); exports, nil, and receipts of £658,The bank statement of last week did not fully reflect 000 net from the interior of
Great Britain.
the liquidation in the stock market; bank loans were
decreased while those of trust companies were augThe foreign exchange market opened with a strong
mented. A reduction in deposits and in reserve undertone, which was
generally maintained throughout
requirements minimized the decrease in reserve, the week. The inquiry
seemed to be chiefly for
though cash showed an important loss. The state- covering of short contracts
that would be deliverable
ment of actual conditions indicated a decrease of during the coming week
and at the end of the month.
$2,081,150in reserve,to $22,715,600. Computed upon There appeared also
to be requirements for sight
440
THE CHRONICLE
[Vol, Lxxxix.
Aug. 20 1908.
Aug. 19 1909.
bills in order to effect extensions of maturing loan Banks 01 Gold.
Total.
Silver.
Gold.
Total.
Silver.
drafts and finance bills for a further period, of three
.£
.0
38,287,249
39,942,597 38,287,249
_ 39,942,597
months. The selling of American securities by London England_
36,265,28-i 165,193,058
France _ _ _ 148,214,980 36,044,640 184,259,600 128,927,773
55,031,300 42,270,000 14,090,00 56,360,000
13,002,100
42,029,200
Germany
the
in
early
e
exchang
8,066,0 124,322,000
created a new demand for
_ 127,578,000 8,970,000 136,548,000 116,256,000 • 13,236,00
Russia
60,293,000
Aus.-Hun_ 56,662,000 12,585,000 69,247,000 47,057,000 27,781,00 43,470,000
week; this inquiry was in part supplied by drawings Spain
_ _ 16,016,000 31,743,000 47,759,000 15,689,000 4,400,00 41,136,000
36,736,000
42,916,000
4,500,00
38,416,000
___ _
11,879,200
7,705,100 4,174,1
against credits that had been placed in Paris and Italy
Neth'iands 10,535,000 3,616,500 14,151,500 3,979,333
5,969,000
1,989,66
Nat.Belg._ 4,223,333 2,111,667 6,335,000
4,030,000
4,030,000
Regular
ions.
4,379,000
negotiat
bond
of
Sweden _ _ 4,379,000
Berlin as the result
4,616,000
4,616,00(k
4,778,700
Switzerrd. 4,778,700
1,776,000
1.776,000
1,727,000
and
in
volume
e
1,727,000
__
moderat
were
Norway
arbitrage operations
607,074,697 447,329,455'110,002,051 557,331,507
112,572,907
week
494,501,790
New
of
York.
Total
favor
in
though
balances were small,
108,604,8114352,684,966
Prey. week 492,876,386 112,560,623 605,437,009 444,080,155'
There was a light demand for remittance by the endof-the-week steamers, for the reason that they were
slow. One feature was the drawing of sixty to ninety
OF THE AIR.
day bills by a prominent banking house, supposed to NEW PROBLEMS FROM CONQUEST
his monoplane
landed
When the aeronaut De Bleriot
be against American stocks and bonds that had been
first flight on
the
transferred abroad to take advantage of the relatively in England, after having achieved
the Channel,
across
lower rates for money there prevailing. The indica- record from France to England
newspapers,
English
tions that the disturbing incidents at Crete and at he was greeted, according to the
presence
The
an.
Stockholm were on the eve of being peacefully closed by a customs officer and a policem
al, but
accident
in
exchange of these functionaries may have been
seemed to be reflected at Paris in a fall
probing
ion.
interest
speculat
it nevertheless suggests some of the
on London and more active
develfor
rates
week
exthe
last
as
of
on
Friday
Compared with
lems which will arise in public discussi
change on Saturday were unchanged for long and for opment of the flying machine progresses. The prescables and 5 points higher for short at 4 8645@4 8650. ence of the customs official directs attention to a curiOn Monday long was unchanged; short rose 5 points ous phase of the matter which has received comparato 4 86:50@4 8655 and cables 5 points to 4 8675@ tively little consideration. Major Baden-Powell of
4 8685. On Tuesday long was 5 points higher at the British army, in a recent review article on the gen4 8505@4 8515, short 5 points at 4 8655@4 8660 and eral question of the changes which aeroplanes were descables 10 points to 4 8685@4 8690. On Wednesday tined to bring about, discussed at considerable length
long was unchanged, short was 5 points higher at what appealed to him as an important part of the
4 8660@4 8665 and cables 5 points lower at 4 8680@
problem—namely, the effect which this ready transit
4 8685. On Thursday long rose 5 points to 4 8505@
from one country to another, without crossing the
4 8520, short was unchanged, while cables were 5
border in the old-fashioned sense, must have on the
points higher at 4 8685@4 8690. On Friday long
administration of the various tariff laws. That, in the
and short rose 5 points each.
of invention, it would become possible for
The following shows daily posted rates for sterling progress
hundreds of individuals to alight at will in whatever
exchange by some of the leading drawers:
part of a given country they might choose, after having
Frt., Mon., Tues., Wed., Thurs., Frt.,
18
19
Aug.
Aug.
20
17
Aug.
Aug.
16
Aug.
13
Aug.
left the earth within the borders of another country,
86
86
86
86
86
4
86
days
160
he assumed as entirely probable. Major Baden-Powell
Brown
87%
87%
87%
87%
87%
1Sight_ _ 4 87%
Brothers
86
86
86
86
86
560 days 4 88
Kidder,
did not ignore the fact that the flying machine will
87%
87%
87%
8735
87%
ISight_ _ 4 87%
Peabody & Co
86
86 ,
86
86
86
560 days 4 88
Bank British
8735
hardly achieve the distinction of carrying heavy mer87%
87%
8735
87%
ISIght_ _ 4 87%
North America
86
86
86
86
86
560 days 4 86
Bank of
y,
87%
87
87%
87%
87%
chandise; but the possibilities arising in regard to
1Sight_ _ 4 87%
Montreal
86
86
86
86 .
86
560 days 4 86
Canadian Bank
87%
87%
87%
87%
87%
_
87%
4
Wight_
transportation of articles easily stored and carried,
of Commerce
86
86
86
86
86
560 V.ys 4 86
Heldelbach, Ickel87%
87%
87%
87%
8735
87%
4
_
iSight_
which are taxed at heavy rates at the customs houses,
helmer & Co
86
86
86
86
86
560 days 4 86
Lazard
87%
87%
87%
87%
87%
1Sight_ _ 4 8734
Freres
appeared to him to create a genuine problem.
86
86
86
86
86
560 days 4 86
Merchants Bank
8735
87%
873,5
87%
,
8735'
1SIght._ 4 87%
of Canada
If the presence of the customs officers at De Bleriot's
landing'suggested this consideration, so the presence
Rates for exchange on Friday were 4 8510@4 8520 of the policeman called even more to mind the numerfor long, 4 8660@4 8670 for short and 4 8685@4 8690 ous
bewildering considerations which are bound to
for cables. Commercial on banks 4 8485@4 85 and
in still another direction. In the curiosity and
arise
documents for payment 4 843g(0,4 85. Cotton for
on with which the world at large has watched
admirati
payment 4 8414@4 8431,cotton for acceptance 4 8485
last
forward step in the conquest of the forces of
this
8@485.
@4 85 and grain for payment 4 84/
nature by man, there has been a tendency to lose sight
the aerial motors—that,
The following gives the week's movement of money of one particular fact about
will possess, compared
they
seen,
as
York
be
can
far
now
banks.
New
so
the
to and from the interior by
inventions of the age, a minimum
other.
all
great
with
Net Interior
Shipped by
Received by
Movement.
N. Y. Banks. N. Y. Banks.
of practical utility for purposes of civilization and a
Week ending Aug. 20 1909.
$5,443,000 Gain $2,054,000
$7,497,00
l annoyance. The extent to
Currency
649,000 Gain
818,000 maximum of potentia
1,467,00
Gold
_
would involve changes in the
use
general
their
which
Gain
$6,092,000
$2,872,000
$8,964,00
Total gold and legal-tenders
laws, practices and habits of the community at large
With the Sub-Treasury operations and gold ex- we have hitherto suggested in these columns. What
ports the result is as follows.
is to become of the law of trespass, what of the instiOut bf
Net Change in
tution of suits for damages, and whether the first
Into
Bank Holdings.
Banks.
Banks.
Week ending Aug. 20 1909.
general development of the use of these machines will
$6,092,000 Gain $2,872,000
$8,964,000
Banks' interior movement, as above_
Loss
30,300,000
200,000
30,100,000
Sub-Tress. over. and gold exports__
be necessarily followed by the establishment of an
Gain
$36,392,000
$2,672,000
$39,084,000
it Total gold and legal-tenders
aerial police, are questions which have as yet been
discussed chiefly with amusement, but which may
The following table indicates the amount of bullion
eventually become serious consideration's.
in the principal European banks.
AUG. 21 1909.
THE CHRONICLE
It will be observed, however, that the rapid development of the aeroplane has been discussed chiefly
in the light of its possibilities as an engine of war. It
is undeniable that the money raised.for the prosecution
of the necessary experiments has been contributed,
whether by governments or individuals, with the single
view of developing the flying machine as an important
factor in military operations. That the possible use
of the aeroplane for purposes of invasion—not to mention its use for destruction of naval armaments at sea—
had an underlying influence in creating the recent
extraordinary scare in England over the country's
defenceless position, cannot well be doubted. It was,
indeed, this possibility in the flying machine which
was primarily kept in mind in the much-discussed German pamphlet describing a future invasion of England,
a publication in which the British misgivings partly
had their origin.
At bottom,the nervous discussion which has prevailed
for nearly six months in the English newspapers, reviews and speeches on public occasions, had its basis
in the vague idea that England was no longer isolated.
To the imaginative mind, a situation had been created
which was bound to upset the accepted ideas and principles of centuries. Even with the development of
the modern standing army and the modern battleship,
the attitude of the average English statesman and
civilian has not been very different from that expressed in Campbell's well-known lines of a century ago:
"Britannia needs no bulwarks,
No towers along the steep;
Her march is o'er the mountain waves,
Her home is on the deep."
One cannot wholly appreciate the instinctive attitude of England toward the aeroplane as an arm of the
military service without keeping in mind the facts that
not since 1745 has the soil of England actually been
invaded; that even then the invaders were inhabitants
of another portion of the British Isles themselves,
under leadership of a descendant of a British King;
and that, with that exception, we must go back to the
Norman conquest to find a time when a hostile army
was able to establish itself upon British soil. When
we recall the attitude, incomprehensible to the American mind, of the British Parliament toward the project of a Channel tunnel—the point-blank refusal of
the authorities to a properly organized and guaranteed
company to undertake this work of a subterranean
connection between France and England—the nature
of the present misgivings become perhaps even clearer.
But however obvious the doubts and forebodings
of the English people may be considered, it cannot
be said that in any of the discussions has a really
clear light been thrown on the actual probabilities of
the case. It may be, therefore, that the scare has
been acute in proportion as it arose merely from the
presence of unknown or unmeasured factors. As
most people are aware, the practical result of the agitation up to the present time has been the assent of
the British Government to the construction of more
Dreadnoughts; yet, considered in the broadest sense,
this would appear to be precisely the expedient which
would not at all meet the situation supposed to have
been created. The turn which discussion of the
aeroplane is hereafter likely to take will be into inquiry
over the actual practicability of using the machines
on a large scale for military operations.
441
When this phase of the matter is coolly considered,
it is very soon discovered that there are certain important offsetting considerations. One of the most
thoughtful articles published on the subject by British
army authorities has pointed out the fact that it is
one thing to build aeroplanes and another thing to get
competent men to man them—that, in other words,
the use of such machines, unless in the hands of navigators naturally competent to guide them, will probably be far more dangerous to the organization undertaking to use them than to their antagonists. It
cannot, in fact, be said that the capacity of these aerial
machines to inflict damage on objects beneath has
been settled at all. The best authorities are in conflict on such questions, and discussions which have
assumed the maximum of potential danger from that
quarter have been rather marked by indulgence in
freaks of imagination.
If it were to be conclusively demonstrated that the
power of aeroplanes to inflict destruction on the cities,
fleets, armies or other objects beneath them were
anywhere nearly as great as these discussions have
pictured it, there could be very little doubt that the
nations as a whole would be forced to take the matter
in hand,with a view to limiting the use of an engine
which threatened civilization itself. It is still quite
within the bounds of possibility, notwithstanding
the singular revival of discussions based on the presumption of international hatred and mistrust, that
some regulation of the use of these machines will be
an incident of the comparatively near future. When
conservative statesmen describe the whole existing
war controversy as one in which the nations of the
world are "rattling into barbarisrr ," it is not possible
wholly to forget that, however thEir powers may have
been perverted or misused, governments are, after all,
instruments of civilization. Furthermore, governments have not yet wholly broken loose from their
position as the agents and exponents of their people.
A recent thoughtful article on the general question
in an English review, after citing the common assertion
that sentiment, in England and Germany particularly, is such that the constant possibility of war exists, goes on to show, from the utterances of the very
people who have assumed such a condition, that the
feeling of the average individual in these and in nearly
all other countries is entirely adverse to any such
outcome. It is conceded that in Germany, for instance, peasant population, mercantile population and
banking population frankly deprecate, from the
standpoint of their own wishes, the idea of war, and
are overwhelmingly hostile to the enormous taxes imposed on them in preparation for war. The same
state of things exists, and is admitted to exist, among
the people of other countries when their individual
ideas are tested. What basis, therefore, it is asked,
exists for the presumption that public sentiment is
such as to make international hostility inevitable?
The answer of the writer in question is that a body
of men in Europe, so small in number that they
could be counted on the fingers of one's hand, have
deliberately adopted a poli,cy based on the alleged
existence of such a sentiment. But the question then
remains whether such a group is indefinitely to have
the power to committing the people, whose political
interests it holds in trust, to possibilities of the sort.
For ourselves we imagine that the people will in the
442
THE CHRONICLE
Lxxxix.
The people on their part, with hardly any one
actively opposing this state of things, are accustoming
themselves to the new order of things and appealing
directly to the executive when they ought to appeal
to their representatives, and thus the executive is
confirmed in his policy of arrogating to himself functions and powers which it was never intended he should
have. No doubt the legislator is in part to blame
ATOR
LEGISL
his effacement and his loss of prestige and power.
THE
TO
for
ING
RESTOR
He has not always given a good account of himself
HIS FUNCTIONS.
resting upon him with a
In contrast with the wild and erratic utterances nor fulfilled the obligations
But the tendency is
lity.
responsibi
of
sense
due
of Governor Johnson of Minnesota, to which we reto be resisted. If it
ought
and
ess,
neverthel
wrong,
ferred in our issue of last week, are some wise and
c instead of
autocrati
have
time
in
will
we
not,
is
sensible suggestions made by Governor Judson Harmon
nt.
governme
popular
of Ohio. It happens that both Mr. Johnson and Mr.
Governor Harmon, almost alone among our govHarmon are Democratic executives. Their views,
pears to be recognizing the drift of things
ernors,ap
of
matters
great
however, on some important political
dangers connected with the same, and to
the
and
as
the
apart
poles.
importance appear to be as wide
earnestly and forcibly in favor of restoring
advocate
to
follow
in
the
Governor Johnson is not at all loath
e department to the place properly belegislativ
the
to
is
much
footsteps of Mr. Bryan, and he resorting
in our form of government. At the
it
to
longing
popular
as
notoriety
the same methods for gaining
the present month of the General
dinner
annual
he
does
to
Nor
hesitate
Mr. Bryan himself employs.
he made an address and selected
Ohio
of
Assembly
class
against
and
class.
array section against section
growing
decadence of the legislative
the
theme
his
as
g
declaimin
been
against
Mr. Bryan has all the time
and State governments.
Federal
of
the
nts
departme
his
silver
during
cam1896,
aggregated wealth, and in
the speech in full anyfind
to
able
been
not
have
We
,
Enemy's
"The
Country!
as
paign, referred to the East
accounts of the same
meagre
the
from
but
where,
to
seeking
been
excite
Similarly, Mr. Johnson has
is
evident that it was
it
papers
in
the
Ohio
printed
the
by
to
on,
envy
declarati
class hatred and sectional
declared, what
He
ce.
deliveran
notable
very
a
given
and
been
which
has
which so much prominence
one knows to be true, that the law-making
we dissected last Saturday, that "It is time that the every
department of the government has been losing its
West threw off the shackles of the East."
both to the State
Governor Harmon is evidently a different type of power. The statement applies
Congress. The appeal
man. He has opinions of his own and does not hesitate legislatures and to the Federal
to the Presidentfor relief against Congress,
to express them, even when they are not in accord of the people
governors instead of the State
with the views which it is the fashion to cultivate and the calls upon
ntal action, and the movees
now-a-days. He evinces not the slightest inclination legislatur for governme
in favor of direct legislation are to him unmisto take pattern after the political demagogues, so ment
of the lamentable tendency renumerous in both political parties, who would throw takable indications
constitutional safeguards aside and disturb the exist- ferred to.
He urges the legislators of Ohio to hark back to
ing order. On the Contrary, he is determinedly resist"I want the Legislature to put
ing tendencies of that kind and seeking to arrest their first principles.
they belong, by honest service for
further progress. One of the crying ills in recent things back where
for himself, he did not desire
As
political development has been the growing disposition all the people."
restless people, passing by the
the
to disregard the distinctive potentialities of the differ- the power which
thrust upon him. Imagine
would
law-making power,
ent branches of our Government.
ever taking a stand like
State
this
• The fundamental law sets separate and distinct the Governor of
more poWer our State
the
speaking,
functions for the legislative, the executive and the this. Generally
themselves the better
to
arrogate
to
able
judicial departments. Under the Roosevelt Adminis- executives are
it.
like
tration there was an intense desire to bring the judicial they seem to
Mr. Harmon also took occasion to remind the legisdepartment under the dominion of the executive
dignity of his office. In his opinion,
department, and everywhere to-day the executive is lator of the high
coincide, the law-making power is
will
all
encroaching upon the functions and the domain of in which
nt of the government. There
departme
the legislator. The President undertakes to dictate the greatest
for centuries before civilized
judges
and
kings
to Congress and threatens a visitation of popular were
d struggles, won the
-continue
long
through
,
vengeance if his orders are not complied with; and humanity
own laws. Accordits
r
administe
and
to
make
similarly many of the State executives are applying right
," the Governor's
Enquirer
ti
"Cincinna
the
to
the whip-hand to the State legislatures and seeking ing
keep
before them this
to
ever
exhorted
were
hearers
to compel the legislator to follow a course which apoutward
in
show but in
not
consists
which
dignity,
peals to the Governor, but which does not commend
that
devolve
upon them
duties
the
doing
honestly
itself to the legislator. In this way the legislator,
of
their
daily
affairs
lives as
ordinary
the
through
instead of exercising his independent judgment, as he
rs
law-make
were
told
the
that
brief,
s.
.In
legislator
is supposed to do under our theory of government, is
being
was
and
calling
lowered,
their
of
dignity
the
obliged to abase himself and yield to the judgment of
that
it
alone
rebe
could
them
through
was
it
that
the executive. The latter thus becomes the conshould
be
words
heeded.
Harmon's
Mr.
stored.
and
little is
trolling power in governmental affairs,
one should protest against
left for the legislator to do except to act as a sort of It was time that some
e an autocrat, and it is
Executiv
Chief
the
making
the
executive.
automaton for registering the decrees of
1 ong run have something to say upon this question,
and that if they come to believe that the aeroplane
or any other modern invention applied for purposes
of war is a menace to modern civilization, they will
see to it that their governments take a hand in the
way of restraint.
km 21 1909.]
THE CHRONICLE
particularly pleasing that one of these executives
should have taken the initiative in the matter. It
was also well that the legislator should be admonished
that his loss of power and influence is in a measure
his own fault, and that he must do his part in the
effort to restore to the legislative department its due
province and functions.
RAILWAY GROSS EARNINGS FOR JUNE.
The June showing of railway earnings is like that
for the months immediately preceding. In other
words, there is very considerable improvement as
compared with the very poor results of last year, but
nevertheless, in amount the improvement is not equal
to the previous year's loss. Our compilations are
based, as they have been in every month since the
beginning of the year, on the returns filed with the
Inter-State Commerce Commission at Washington.
But as June is the closing month of the fiscal year
of the companies, this monthly compilation is not
nearly so complete—that is, does not come so close to
covering the entire railroad mileage of the country—
as in other months. Quite a few large companies are
withholding the June figures (as is nearly always the
case in that month) so as to incorporate in the same
any corrections and revisions that may be found necessary before closing the accounts for the twelve months.
In the issue of our "Railway Earnings" Section,
which accompanies the "Chronicle" to-day, we print
the earnings and expenses for June of all railroad companies in the United States which are obliged to make
returns to the Inter-State Commerce Commission,
and which had filed their June figures up to yesterday
morning. Ordinarily our summaries, based on the
returns thus filed, cover an aggregate of 220,000 to
225,000 out of a possible total of about 232,000 miles.
On the present occasion, on account of the absence of
the June returns for a number of large companies,
like the Missouri Pacific, the Chicago Burlington &
Quincy, the "Soo" road, the Erie, the Central of New
Jersey, the Lehigh Valley, the Central Vermont, &c.,
the aggregate extent of road embraced in our tables
is only 197,648 miles.
However, the satisfactory feature is that on this
extent of road very large gains are recorded over the
small results for the corresponding month last year;
and obviously, if we could have the figures for the
missing roads, the amount of gain would be still
larger. In the gross, the increase reaches the handsome amount of $24,708,808, or 15.38%. Turning
to the compilation we published at this time a year
ago, we find that the loss then reached $26,987,858,
but this covered only 147,436 miles of road. A somewhat fuller statement, made up so as to include a considerable bogy of roads which had furnished returns
of gross but not of net, covered 178,960 miles of road,
and showed a decrease in gross earnings at that time of
no less than $33,126,964,or 18.47%. When giving our
final compilations, we estimated that for the entire
railroad system of the country the loss in gross earnings for the month of June 1908 must have been $46,000,000. The gain the present year, we have seen,
was $24,708,808 on 197,648 miles of road, and we
may assume that this would be raised to $30,000,000
if our statement could be made to cover the entire
railroad system of the country. Even this latter
figure, it will be observed, would fall considerably
443
short of making up the $46,000,000 loss sustained last
year.
In the matter of the net, the comparisons are
very much better, By June last year the railroads had pretty well got control of their expense
accounts, and therefore the loss in net was considerably smaller than it had been in the earlier months.
In our statement at that time, the loss in net for
147,436 miles of road was only $4,557,091, or 9.39%,
and we estimated that for the full railroad mileage of
the country the loss was probably $10,000,000. On
the present occasion the gain in net is $14,234,380 on
197,648 miles of road. Probably on the whole railroad system of the country, making due allowance for
the missing roads, the increase in net would be $15,000,000, which thus shows a gain for 1909 running
substantially above the loss in the month of June 1908.
June (661 Roads—
Mlles of road
Gross earnings
Operating expenses
Net earnings
—Increase or Decrease—
%
Amount
1909.
1908.
1.52
197,648
194,639 Inc.
2,959
$185,333,312 $160,624,504 Inc.$24,708,808 15.38
118,655,642
9.68
108,181,214 Inc. 10,474,428
$66,677,670
$52,443,290 Inc.$14,234,380 27.14
We need scarcely say that, prior to 1908, the course
of earnings was steadily upward for a whole decade,
and we had an uninterrupted series of increases, both
in gross and in, net. The record in this respect is
shown in the following, which gives the June totals
each year, just as registered by our tables—in other
words, our aggregates did not in any year embrace
the entire railroad mileage of the country any more
than they do in the present year—in fact, a little less
so, since there was a larger percentage of missing roads
in these earlier years.
Net Earnings.
Gross Earnings.
Year.
Year
Given.
June.
1897
1898
1899
1900 ---1901 ___
1902 ____
1903 _
1904 ____
1905 _ - _
1906_
1907 -- —
1908 -_ -1909 ___-
Year
Preceding.
Increase or
Decrease.
Year
Given.
Year
Increase or
Preceding. Decrease.
48,680,992 47,044,545 +1,636,447 14,371,918 13,120,127 +1,251,791
50,274,300 46,902,366 +3,371,934 14,943,497 14,045,315 +898,182
55,978,068 48,136,823 +7,841,245 17,855,957 14,068,508 +3,787,449
67,883,647 60,652,419 ±7,231,228 21,843,152 19,606,585 +2,176,567
78,026,161 72,941,846 +5,084,315 26,223,611 23,318,642 +2,904,969
82,996,635 76,865,429 +6,131,206 26,679,487 25,455,584 +1,223,903
81,053,177 70,435,646 +10,617,531 23,988,925 22,106,804 +1,882,121
+642,431 26,894,483 24,594,095 +2,300,388
87,298,783 86,656,352
92,831,567 84,537,809 +8293,758 27,567,407 26,391,704 +1,175,703
100,364,722 90,242,513 +10,122,209 31,090,697 27,463,367 +3,627,330
132,060,814 114,835,774 +17,225,040 41,021,559 36,317,207 +4,704,352
126,818,844 153,806,702 —26,987,858 41,818,184 46,375,275 —4,557,091
185,333,312 160,624,504 +24,708,808 66,677,670 52,443,290 +14234380
Note.—In 1896 the number of roads Included for the month of June was 121; In
1897, 106; In 1898, 116; In 1899, 95; In 1900, 99; In 1901, 94; In 1902, 94; In 1903,
86; In 1904, 80; In 1905, 77; In 1906, 80 In 1907, 84; In 1908, 89; In 1909, 661. We
no longer Include the Mexican roads or the coal-mining operations of the Anthracite
Coal roads In our totals.
In the case of the separate roads there are many
large gains in both gross and net, but the same observation may be made here as with reference to the general totals, namely that the present year's gains do
not come up to last year's losses. Take the Pennsylvania's system, for example. On the lines directly
operated east and west of Pittsburgh there is an increase in gross earnings of $2,471,734 but the loss
last year amounted to no less than $4,482,300. Similarly, the Southern Pacific, which last year recorded
$1,903,145 decrease, now has but $927,494 increase,
and the Baltimore & Ohio has recovered only $775,830
of its loss of $1,759,834. On the other hand, several
of the roads, of which the Atchison, the Rock Island
and the Union Pacific form notable illustrations, have
gains the present year somewhat exceeding their 1908
losses. The Southern Railway last year had $636,644
loss, as against the present increase of only $211,640.
In the following we show all changes for the separate
roads for amounts exceeding $100,000—whether increases or decreases and both in the gross and the net.
There are no decreases for this amount in the gross, it
will be seen, but four decreases in the net. These fig-
[VOL. lax=
THE CHRONICLE
444
creases furnish an indication of the tendency of exAs stated by us in previous months, we have
penses to rise again, now that railroad gross revenues changed our system of grouping the roads so as to
are good and the prospects of their continuing good conform with the grouping or classification adopted
seem excellent.
by the Inter-State Commerce Commission. The only
PRINCIPAL CHANGES IN GROSS EARNINGS IN JUNE.
departure we make from the Commission's arrangeIncreases.Increases.
142,471,734 Michigan Central
$253,628 ment is that we have combined Groups 4 and 5, so
Pennsylvania
216,979
1,906,999 Cleve Cinc Chic & St L___
Northern Pacific
211,640 as to bring all the Southern roads together under one
Atch Topeka & Santa Fe_ 1,771,883 Southern Railway
211,463
1,246,192 Chic St P Minn &0
Rock Island
1,096,585 Union RR. (of Pa)
200,766
Great Northern
to bring the South927,494 Pere Marquette
183,546 head; also Groups 8 and 9, so as
Southern Pacific
177,905
Chicago & North Western 862,017 Spokane Port SC Seattle
have
likewise combined
and
together,
775,830 Illinois Central
167,641 western roads
Baltimore & Ohio
160,757
N Y Central & Hud Riv__ a744,416 Mo Kansas & Texas
the systems
comprising
latter
Pacific
&
Texas
722,824
155,222 Groups 6 and 7, these
Duluth Missabe & Northn
690,707 Wabash
153,966
Union Pacific
644,169 Elgin Joliet & Eastern... 152,448 running west and northwest of Chicago, the mileage
Lake Shore & Mich So..__
632,106 San Ped Los Ang & S L__
149,523
St Louis ec San Fran
594,214 Kansas City Southern...Norfolk & Western
147,451
over the territory covered
593,370 Buffalo Roch & Pitts.... 136,298 of most of which spreads
Chic Milw & St Paul
494,168 Seaboard Air Line
Chesapeake & Ohio
127,131
not include any of the
do
We
groups.
488,936 Nashville Chatt & St Louis 115,687 by both
Duluth ec Iron Range_ _ _ _
470,003 N Y Chic & St Louis
109 234
N 1( N H & Hartford... _
except of course so
figures,
our
in
446,115 Atlantic Coast Line
104,,052 Canadian lines
Pitts & Lake Erie
403,270 Louisville & Nashville... 102,056
Boston ec Maine
the United States
within
316,695
Erie...
Lake
lies
of
&
much
as
the
Bessemer
same
$
'300,063 Representing 43 roads in
Philadelphia & Reading
our compilation
22,124,652 and for which returns are filed with the Commission.
Denver & Rio Grande.... 288,469
Ncte.-All the figures in the above are on the basis of the returns filed
with the Inter-State Commerce Commission. Where, however, these
The confines of the different groups are indicated in
returns do not show the total for any system, we have combined the separate roads so as to make the results conform as nearly as possible to those the foot notes to the above table, but it is important
given in the statements furnished by the companies themselves.
a These figures cover merely the operations of the New York Central to note that where a road or system covers more than
Itself. Including the various auxiliary and controlled roads, like the
Michigan Central, the Lake Shore, the "Big Four," the "Nickel Plate,"
overlaps into others, we have necessarily
&c., the whole going to form the New York Central System, the result is one group, or
again of $2,558,420.
place it in some particular one of the
to
obliged
been
operated
east and west of
y These figures represent the lines directly
Pittsburgh, Eastern lines showing $1,445,804 increase and the Western
exists of dividing it up among the
way
no
as
operated
and
leased,
groups,
owned,
lines
all
controlled,
for
$1,025,930;
the
lines
result for the month is a gain of $2,044,376.
groups
where it may be located. Our
more
or
two
PRINCIPAL CHANGES IN NET EARNINGS IN JUNE.
Increases.
ncreases. plan in such cases has been to place the road or system
53
$2,085,417 Bessemer & Lake Erie... $118
1
51
Northern Pacific
5:022
1,675,329 Chicago & Alton
Great Northern
in the group where the bulk of the revenues is appar142:3
08
43
0
NY NH & Hartford_ _ _ _ 1,164,939 St Louis Southwestern
728,181 Union RR (Pa)
Southern Pacific
obtained. In their annual statements to the
a632,478 Seaboard Air Line
134,304 ently
N Y Cent & Hud River
616,190 Florida East Coast
118,881
Duluth Missabe ee Nor
Commerce Commission, the companies are
Inter-State
Ohio
&
Mobile
y585,263
103,759
Pennsylvania
527,059 Boston ec Maine
102,539
Union Pacific
required to show the amounts earned in each of the
505,698
Rock Island
Representing 28 roads
Atch Top ec Santa Fe....483,038
in our compilation...513,561,147 groups, but of course no such division is attempted in
455,222
Baltimore & Ohio
448,331
Sou
Mich
&
Shore
Lake
399,397
Chesapeake & Ohio
Decreases. the case of the monthly returns.
395,795 Illinois Centrall
$277,448
Louis & San Fran_ _ _ _
St
395,179 Chicago & North Western
260,766
Duluth & Iron Range...
356,220 Cinc Ham & Dayton_ _ _ _
156,392
Pitts & Lake Erie
314,643 Toledo & Ohio Central
119.417
Missouri Kansas & Texas
263,930
Norfolk ec Western
Representing 4 roads
203,228
Louisville & Nashville
in our compilation__
203,047
$814,023
Buffalo Roch & Pitts_ _ _
a These figures cover merely the operations of the New York Central
$1,519,381.
a
is
of
result
gain
the
System,
Central
York
itself. For the New
y These figures represent the lines directly operated east and west of
Pittsburgh, the Eastern lines showing $411,133 increase and the Western
lines $174,130. For all lines owned, leased, operated and controlled,
the result is a gain of $587,954.
It is almost superfluous to state that, when the roads
are arranged in groups or geographical divisions, every
group shows a substantial improvement in the gross,
and also every group an improvement in the net.
This is precisely the reverse of the result a year ago,
when every group recorded a loss in gross and every
group with one trifling exception a loss in net. The
result by groups is set out in the table which we now
present.
Seaton or Group-
SUMMARY BY GROUPS.
Gross Earnings
Inc.
Dec.
1908.
1909.
(+)
(-).or
JuneGroup 1 (22 roads), New England_
Group 2(123 roads), East & Middle__
Group 3 (92 roads), Middle West
Groups 4 & 5(143 roads), Southern
Groups 6 & 7(102 roads), Northwest _
Groups 8 & 9(129 roads), Southwest _
Group 10(50 roads), Pacific Coast....
Total (661 roads).
11.20
10.10
15.09
10.70
22.53
20.60
11.80
185,333,312 160,624,504 +24,708,808
Net Earnings
Inc.
or
-MileageDec.(-)
1908.
1909.
1909. 1908.
$
6,795 6,809 3,583,695 2,241,373 +1,342,322
21,206 21.219 15,060,611 12,932,425 +2,128,186
24,451 24,569 9,439,627 8,224,721 +1,214,906
37,273 36,001 7,412,474 5,746,537 +1,665,937
48,063 47,570 15,890,117 11,038,092 +4,852,025
45,239 44,442 9,361,204 7,535,428 +1,825,776
14,621 14,079 5,929,942 4,724,714 +1,205,228
15.38
8,712,974
38,934,371
24,311,927
20,910,826
32,208,453
23,782,729
11,763,224
(+)
Group No. 1
Group No. 2
Group No. 3
Groups Nos. 4 ec 5
Groups Nos. 6 & 7
Groups Nos 8 dc 9
Group No. 10
Dividends 1909. Dividends 1908. Inc. (+)
+975,881
+4,282,445
+3.668,536
+2,237,540
+7,257,607
+4,899,232
+1,387,567
9,688,855
43,216,816
27,980,463
23,148,366
39,466,060
28,681,961
13,150,791
%
59.89
16.46
14.77
28.99
43.95
24.37
25.51
197,648 194,689 66,677,670 52,443,290 +14,234,380 27.14
Total
NOTE.-Group I. Includes all of the New England States.
Group II. Includes all of New York and Pennsylvania except that portion west
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland, and
the extreme northern portion of West Virginia.
Group III. includes all of Ohio and Indiana; all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups IV. and V. combined include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined include the northern peninsula of Michigan, all of
Minnesota, Wisconsin, Iowa and Illinois; all South Dakota and North Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana, Wyoming and
Nebraska, together with Colorado north of a line parallel to the State line, passing
through Denver.
Groups VIII. and /X. combined Include all of Kansas, Oklahoma, Arkansas and
Indian Territory; Missouri south of St. Louis and Kansas City; Colorado south
of Denver; the whole of Texas and the bulk of Louisiana; and that portion of New
Mexico north of a line running from the northwest corner of the State through
Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. Includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona, and the western part of New Mexico.
FALL RIVER MILL DIVIDENDS FOR NINE MONTHS
OF 1909.
Thirty-five cotton-manufacturing corporations located
in Fall River which furnish reports of operations have declared dividends during the third quarter of the year. The
total amount paid out is slightly more than for the corresponding period of 1908 and appreciably smaller than in
1907, but exhibits increases over the similar quarter of 1906,
1905, 1904 and 1903. The aggregate of the amount distributed has been $411,125, or an average of 1.61% on the
capital. Two mills declared smaller dividends than in 1908,
five increased the rate and twenty-eight maintained last
year's percentage. In 1908 the amount paid out by thirtythree mills was $400,125, or an average of 1.59%. In 1907
thirty-two mills paid out $664,850, or 2.70% on the capital.
In 1906 thirty mills disbursed $367,275, or 1.61%. In 1905
the aggregate was $215,650, or 0.99%. In 1904, $150,750,
or an average of 0.70%. In 1903 thirty-one mills paid out
an average of 1.44%; in 1902 the average rate was 1.56%.
In 1901 the average percentage was 1.12 and in 1900 the
average rate of distribution was 1.81%.
Third Quarter.
1909 and 1903.
OF
Capitol.
%
$
800,000
American Linen Co
300,000
Ancona Mills
154
450,000
Arkwright Mills
495,000
Barnard Mfg. Co
350,000 154
Barnaby Mfg. Co
Border City Mfg. Co
1,000,000 1%
Bourne Mills
1,200,000 2
Chace Mills
300,000 .1%
Conanicut Mills
13,31.
0 z
0:1
8
:13())0
40i,0
1,3
Cornell Mills
500,000 1%
Davis Mills
Davol Mills
Flint Mills
Granite Mills
34
1,580000:000000
Hargraves Mills
154
King Philip Mills
11hi
0 2
00
000
:0
0,
60
73550
Laurel Lake Mills
Luther Mfg. Co
Mechanics' Mills
1,200,000 1
Merchants Mfg. Co
131
,000 2
00:
48
Narragansett Mills
Osborn Mills
Parker 5111Is
1,200,000 1%
Pocasset Mfg. Co
000 :
600:0
1,0
Richard Borden Mfg. Co
1m
000 2
50:0
50
9
Sagamore Mfg. Co
Seaconnet Mills
Shove Mills
1,000,000 1%
Stafford Mills
Stevens Mfg. Co
j. 1
' 3:888 1
Tecumseh Mills
300,000 3
Troy Cot. & Wool. Mfg. Co
1,200,000 1
Union Cotton Mfg, Co
750,000
Wampanoag Mills
0
00
00
750:0
40
25.5
Weetamoe Mills
134
*134
134
1,000,000 154
I 8 888
34
4
134
Total
* On $100,000 preferred stock.
.61
11
Amount.
$
12,000
1,500
6,750
7,425
5,250
15,000
15,000
24,000
%
Amount. Dec. (-)
_
$
134 12,000
*134
1,500
134
6,750
1%
7,425
No dividend
1%
15,000
1
2
24,000
3,000
8,000
7,m
,7
11
.
1
10,000
1:8ss L
7,Z8
,7
8,700
20,000
12.000
22,500
12,000
5,250
1%
2
1%
1%
3
1%
us 1,
4
%
+5,250
+5,000
+1,500
8,700
Ig.,888
22,500
18,000
5,250
11,250
18,000
8,000
-6,000
17:228 ?2114
3% 11:Z88
18,000
12,000
8.000
10
2
18,000
9,000
8,250
15,000
10,500
11,250
9,000
18,000
50
20
1:5
17
20,000
18,000
9,000
8,250
1%
18
5.
0
000
,0
No dividend +10,500
11,250
6
-9,000
18,000
7.500
hi
7,500 +3,750
2
1%
134
134
134
411,125 1.59
400,125 +11,000
MG. 21 1909.3
THE CHRONICLE
Combining the foregoing results with those of the first and
second quarters, we have the following exhibit for the nine
months. It is seen that on a capitalization of $25,475,000
the mills have paid out in dividends $1,490,375 in the nine
months of the present year, or an average of 5.85%, against
5.42% in 1908, 7.27% in 1907, 4.87% in 1906, 2.13% in
1905, 3.06% in 1904, 4.36% in 1903 and 4.59% in the like
period of 1902. In 1901 the average dividend was 4.28%,
in 1900 it was 6.25% and in 1889 it reached 3.68%.
445
unavoidable, but from a spirit of carelessness and extravagance to the highest degree condemnatory. It is the constitution of the famous Radical-Socialist group ("bloc")
faction under the fatal Minister Waldeck-Rousseau which
is
responsible for this universal waste and the imprudent laws
of which France every day endures the more and
more
distressing consequences.
A table of the expenses of the various budgets since
1897,
Dividends 1909. Dividends 1908.Inc. (-I-) which has
been recently published, contains some valauble
Nine Months.
OT
1909 and 1908.
Capital.
% Amount. % Amount. Dec. (-) information. It should
be remembered that in many cases
the estimated amounts do not actually represent the
$
8
sums
American Linen Co
800,000 4&i
36,000 4%
36,000
expended, which in reality are frequently much larger.
Ancona Mills •
300,000 • 4%
4,500 4%
4,500
Arkwright Mills
450,000 43
20,250 45
20,250
Barnard Mfg. Co
495,000 4%
22,275 5%
27,225 -4,950 This artificial reduction of the printed figures is made to
Barnaby Mfg. Co
350,000 1%
5,250
No dividend
+5,250 facilitate the passing
of the vote for the budgets. As we
Border City Mfg. Co
1,000,000 4%
45,000 4
40,000 +5,000
Bourne Mills
1;000,000 33
35,000 3
30,000 +5,000 can only quote from this official
table, we shall consider the
Chace Mills
1,200,000 6
72,000 6
72,000
Conanicut Mills
300,000 43
13,500 4
12,000 +1,500 budget of 1897, which we may regard, if not
the last, at least
Cornell Mills
400,000 6
24,000 9
36,000 -12,000
Davis Mills
500,000 4%
the next to the last belonging to the period of the Govern22,500 4%
22,500
Davol Mills
500,000 4%
22,500 4%
22,500
Flint Mills
580,000 43
26,100 6%
37,700 --11,600 ment under the Moderate Republican party; then the budget.
Granite Mills
1,000,000 6
60,000 6
60,000
of 1906, the last voted by the Chamber which preceded the
Hargraves Mills
800,000 43.
36,000 43
36,000
King Philip Mills
1,500,000 4%
67,500 43
67,500
present Chamber, and finally the budget of 1910, which will
Laurel Lake Mills
600,000 6
36,000 11
66,000
-30,000
Luther Mfg. Co
350,000 4%
15,750 1%
5,250 +10,500 be the last of the Legislature now
Mechanics Mills
in session:
750,000 4%
33,750 5
37,500 -3,750
Merchants' Mfg. Co
1,200,000 43
54,000 43
From this table we see that in the nine years between
54,000
Narragansett Mills
400,000 6
24,000 6
24,000
Osborn Mills
750,000 4%
1897 and 1906 the expenses of the budget increased
33,750 4%
33,750
394,Parker Mills
800,000 43
36,000 4%
36,000
Pocasset Mfg. Co
833,000 francs, over 43,000,000 a year; and in the four
1,200,000 4%
54,000 4%
54,000
years
Richard Borden Mfg. Co.__ 1,000,000 6
60,000 11% 115,000 -55,000 between
Sagamore Mfg. Co
1906 and 1910 the increase was 342,650,000 francs,
900,000 6
54,000 10
90,000 -36,000
Seaconnet Mills
600,000 4%
27,000 4%
27,000
over 85,000,000 a year-nearly double the increase of the
Shove Mills
550,000 4%
24,750
4%
24,750
Stafford Mills
1,000,000 4%
45,000 4%
preceding nine years.
45,000
Stevens Mfg. Co
700,000 4%
31,500 1%
10,500 +21,000
Tecumseh Mills
750,000 4%
The whole increase thea in the thirteen years has been
33,750 8
60,000 -26,250
Troy Cot. de Wool. Mfg. Co_
300,000 10
30,000 18
54,000 -24,000
Union Cotton Mfg. Co
7373
, millions of francs, or more than 56,000,000 francs
1,200,000 28
336,000
4%
+282,000
54,000
Wampanoag Mills
750,000 3%
26,250 3
22,500 +3,750 a year.
Weetamoe Mills
500,000 4%
22,500 5
25,000 -2,500
Take note, also, that in these thirteen years certain events,
Total
25,475,000 5.85 1,490,375 5.42 1,362,425 ÷127,950
three notably, have materially lightened the budget; the
change of the Rente in 1902 from 33/2% to 3% in round numbers reduced the interest on the public debt some 34,000,000
THE INCREASE IN THE FRENCH BUDGET
francs; the separation of Church and State which,since 1906,
SINCE 1897.
has practically suppressed the budget for public worship;
We have made the following translation of an inter- and lastly the increase in receipts from the railroads, which
esting article by Paul Leroy-Beaulieu on the increase diminished very sensibly so far as the budgets of the last
years of the 19th century are concerned the burden of
in the French budget which appeared in a recent guarantee
ing the interest. The net saving result of these
number of "L'Economiste."
three causes cannot be estimated at less than 100,000,000
Every one knows in a more or less vague way the enormous francs. Hence the official figures of
increase in thirteen
increase in expense incurred in the last ten or twelve years. years-737M millions-should actually be
increased by that
Ministers
explain by citing similar extravagances among amount. If we remember that the
The
estimates are always
certain foreign nations, notably Germany and *England.
understated, the actual figures would be nearer 900,000,000
This argument is by no means convincing. In the first francs.
place England has been obliged to face the expense of a
Now there can be no doubt that half of this actual increase
notable war, that in South Africa; undoubtedly that could of expense is inexcusab
le and comes from an unresthined
have been avoided, but it was not. Happily, in France and shameful waste. One glance
at the various ministries
we have had no burden of the same nature, although we were or civil services will give the proof
of it.
threatened with one in Morocco.
But first we will put aside the departments of War and
Then, too, England and Germany, the latter especially, Navy; the expenses which concern
them, at least those of
have a rapidly increasing population, so that the increase the Ministry of War, ought
to be considered as sacred exof expense there is, in a way, justified; moreover, the burden penses, since the maintenance of national
existence depends
of taxation in those countries is divided each year among closely on them; now this national
existence is the supreme
an ever greater number of taxpayers. Some twenty years good for every Frenchman. Undoubte
dly there is much
ago, if not more, we called attention to this fact; the public waste and leakage in the administr
ation of the Army; as for
is now beginning to be struck with the justice of it, but the the Navy it is universally admitted
that the waste is great.
Ministers and parliamentarians take no account of it.
Notwithstanding all that, we will grant that the increase in
Since 1897 the United Kingdom of Great Britain and expense for the two departmen
ts of War and Navy since
Ireland has gained some 5,000,000 inhabitants-that is to 1897 has been justified; for the
Army 200,000,000 francs, for
say, just so many new productive forces and new tax- the Navy 83,000,000-an increase
of 283,000,000 out of
payers. Germany in the same period has increased 10,- a total of 7373. million
francs. Hence the civil increase
000,000. If, in truth, those born in the last twelve years in expense since 1897 has
been in official figures 454,000,000
are as yet producing nothing, the approximately equal in- francs, which sum we believe is much
less than the actual
crease of the previous decade has begun to contribute its amount expended. It is here the
leakage appears chiefly,
contingent of productive forces and tax-paying citizens. a leakage almost systematic. Let
us consider the increase
It is a notable and lamentable fact that in this same period of expense in each department.
of time France has gained at most 600,000 inhabitants,
In the Department of Finances an increase of 92,000,000,
half of whom were immigrants.
although the interest on the national debt has decreased
Therefore no comparison can be established, so far as the 34,000,000 in the interval; but the
number of civil and
increase of expenses is concerned, between England and military pensions constantly
increases.
Germany on one hand and France on the other. An autoIn the Department of Justice an increase of 3,400,000
matic increase in the budget for our neighbors of the north- francs.
west and of the east is for the most part natural and exIn the Department of Public Worship a tremendous decusable, although it may have been carried too far in the crease, since the department no
longer exists.
last few years; for us, however, it is almost invariably withIn the Department of Foreign Affairs an unexplained inout excuse, and constitutes a grave peril.
crease of 4,500,000 francs.
When we study at first hand the increase in the French
In the Department of the Interior an enormous increase
budgets since 1897, we see that it springs from causes not of 62,000,000 francs.
446
THE CIIRONICLE
In the Department of Public Instruction an increase of
4,000,000 francs. We are not afraid to say that two-thirds
f this increase could have been avoided without any harm—
came from the suppression of the Church schools, which
ost the State nothing in general and which gave a very
pr actical and very• moral instruction; that represents a
acrifice of at least 50,000,000 to the spirit of sect.
In the Department of Fine Arts an increase of 4,500,000
r ancs.
In the Department of Commerce and Industry.an increase
f nearly 29,000,000 francs, a shocking amount when we
remember that from this department have been recently
taken several .of its important functions to endow the Department of Labor, a creation of the Clernenceau Cabinet,
which demanded 15,632,000 francs to disorganize labor in
F ranee.
In the Department of Colonies the expenses from 1897
to 1906 increased from 83,874,000 francs to 110,415,000,
but then decreased to 97,696,000 for 1910. We must deduct
from this sum the amount of 14,657,000 francs, representing
the contribution to the military expenses from certain colonies, notably Indo-China, which reduces the actual expense
to 83,000,000 francs in round numbers, not including
Algeria and Tunis. This amount is yet excessive, for the
greater part of our colonies now is in good condition and
able to contribute more generously to the military expenses.
In the Department of Agriculture the increase has been
6,231,000 francs and in Public Works 39,500,000.
Last but by no means least there has been an increase of
141,000,000 in the Post Office Department and rumor
says it will be increased still more.
Two-thirds certainly of the increase in the civil expenses
has been purely wasted. And M. Clemenceau in the presence of an applauding Chamber praises the merits of the
Government and Parliament. If both continue to be thus
meritorious, the weight of taxes will not cease to increase,
and the country, • already overburdened, will be overPAUL LE ROY-BE AULIEU.
whelmed.
DEFECTS OF THE CORPORATION TAX LAW.
We make room for the following dealing with certain defects in the new Corporation Tax Law:
Attorney-General Wickersham, answering the criticisms
of twelve Certified Public Accountants of New York, as
embodied in their letter, copy of which was sent to each
member of Congress under date of July 8 1909, says, among
other things, in his letter under date of July 17 1909, to
the accountants, the following:
"The bill was purposely framed to deal with receipts and
disbursements made within the year for which the tax was
to be imposed. The theory of the framers of the bill in this
respect differs from that which you advocate; that the proposed law does not impose a tax on 'profits,' but on 'the
entire net income' over and above $5,000 received from all
sources during such year' (meaning calendar year ending
December 31).
"The theory of the framers of the bill differs" not only
from what is advocated by the twelve Certified Public Accountants of New York, but from all accepted principles
of sound accounting, with respect to determining what is
either 'net income' or 'profits, and also differs in theory
and practice from the accounting systems prescribed by the
Inter-State Commerce Commission the American Street &
Interurban Railway Association, the National Electric Light
Association, American Gas Institute, Wisconsin Railroad
Commission and New York Public Service Commissions
Nos. 1 and 2, and in this respect the provisions of the bill
are 'absolutely impossible of application for any corporation
'which keeps just and true books of account.'
A mercantile corporation in determining its 'net income
received' for a given year ending December 31, based on
'actual receipts and payments,' would presumably tteat as
one of the sources of 'actual receipts' payments received for
account of sales of merchandise, which probably would be,
and usually are,,less than the sales of merchandise amount to
during the year; therefore 'net income received' could not
be correctly determined on this basis.
A cor,-.oration in determining its 'net income received'
for a given year ending December 31, based on 'actual receipts and payments,' would presumably treat as one of the
items of 'actual payments' payments made for account of
merchandise purchased and carried in stock, which probably would not be all sold; therefore 'net income received'
would not be correctly determined on this basis, nor could
it be without taking an inventory as of December 31. This,
outside of the question of the fiscal year not ending December 31, would be absolutely impossible to do in the case of a
Corporation concluding a large department store, that month
[VOL. Lxxxxx.
of the year (December) covering the Christmas shopping
season, requiring the services of all of their employees and
the use of all of their facilities to attend to the wants of
their customers.
'Losses actually sustained,' for example, uncollectible
accounts written off the books, would not be 'an actual payment' nor 'an actual disbursement;' therefore, presumably,
would not be included as such in determining net income
received' of a corporation for a given year.
Interest actually paid' in the case of a corporation
issuing bonds dated January 1, coupons payable July 1 and
January 1, in determining its 'net income received,' as per
provisions of the Corporation Tax Bill, would charge against
its 'actual receipts' the 'payment' or 'disbursement' of six
months' interest during its first year of business, namely the
coupons due and payable July 1, assuming they were all
paid within the six months,which is usually not the case.
C. N. DUFFY.
Milwrsukee, Wis., August 12 1909.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
—The public sales of bank stocks this week aggregate 77
shares, of which 57 shares were sold at the Stock Exchange
and 20 shares at auction. The transactions in trust company stocks reach a total of 26 shares. The prices paid
show no important changes from those recorded for recent
transactions.
Low. High.
Shares. BANKS—New York.
390
387
•55 City Bank, National
188
188
of
Bank
Nat.
•2 Commerce,
1053i 105M
20 Northern Bank
TRUST COMPANIES—New York.
245
25 Lawyers' Title Ins. & Tr. Co. 245
365
365
1 Trust Co. of America
Close. Last previous sale.
387 3. Aug. 1909— 384
July 1909— 186 h
188
1054 June 1909— 107%
245
365
June
July
1909— 248
1909— 360
• Sold at the Stock Exchange.
—Advices from Chili state that the law passed by Congress,
which had provided for the postponement for five years of the
conversion of the paper money of the Republic into gold,has
been vetoed by President Montt.
—A two days' session was held this week at the Plaza
Hotel, this city, by members of the National Monetary Commission, created under the Aldrich-Vreeland Bill passed in
1908, to take up the question of reforms in the law governing
banking and currency. Senator Nelson W. Aldrich, who is
Chairman of the Commission, presided at the meeting, which
was attended by Representatives Vreeland, Weeks and
Bonynge and Senators Burrows and Daniel. It is stated
that several bankers were also in attendance, including
Festus J. Wade, President of the Mercantile Trust Co. of
St. Louis; 5. W. D. Halsey and W. H. Gartley. While a
portion of the time was devoted to an examination of papers
and statistics prepared under the direction of Professor A. P.
Andrew, the main purpose of the meeting, according to an
announcement made at its conclusion by Prof. Andrew, was
to arrange for the work of the members of the Commission
during the summer prior to the general meeting which will
take place in Washington about the middle of October.
Prof. Andrew stated that it is expected the reports and
statistics with reference to the monetary systems which are
under investigation by the Commission will be completed
and ready for publication at the October meeting. One of
the actions taken this week was the appointment of a subcommittee which has been delegated to make a personal
examination in Canada of such features of the Canadian system as have not already been covered by the investigations
of the Commission. This Sub-committee, which is to
visit Canada some time next month, consists of Edward
B. Vreeland, Chairman; Senators Julius C. Burrows and
John W. Daniel and Representatives John W. Weeks and
Robert W. Bonygne. The study of the monetary conditions abroad, which was undertaken in a personal visit
by a sub-committee last year, is to be continued, the announcement of Prof. Andrew stating that Senator Aldrich,
who is to sail for Europe next week, will complete arrangements heretofore made with reference to the monetary
system of Italy, and will also arrange for additional information relating to European systems in cases where the
statements already submitted to the Commission fail to
cover all the information required. The monetary systems
which were the subject of investigation last year were Great
Britain, France and Germany. It is further stated that
it is the Purpose of the Commission to visit different sections of this country during the late fall and winter in continuance of its studies. While the Commission has not
AUG. 211909.
THE CHRONICLE
447
Chicago, during the week of the convention of the American
Bankers' Association. The date on which the Supervisors'
Association will meet is Sept. 13 and 14. Pierre Jay, VicePresident of the Bank of the Manhattan Company, New
York, is President of the organization.
—In accordance with the vote of its members on Tuesday,
the New York Mercantile Exchange will abolish the Quotation Committee and abandon the old practice of having the
quotations made up in that manner. Instead, quotations wi I
be based on actual sales. This course, which follows simila r
action by the New York Metal Exchange, is the outgrowth
of the report of the Hughes Investigating Committee, which,
as noted last week, had recommended the repeal of the
charters of both exchanges, inasmuch as the quotations
were not a record of actual transactions. At Tuesday's
meeting of the members of the Mercantile Exchange, about
votes, it is said, were cast out of a membership in the
160
To the Cashier:
neighborhood of 500, 97 of the votes favoring the abolition ,
Sir—
In connection with the report submitted by you in compliance with the of the present system with 42 in favor of its continuance.
request made by the National Monetary Commission for a detailed stateBefore the polling of the vote it was urged upon the members
ment of the resources and liabilities of your bank on April 28 1909, information is also desired by the Commission with respect to the character of by President Henry Dunkak that they abandon the ol
deposits, number of depositors, average rate of interest paid and minimum
course, inasmuch as the charter was endangered. Mr
amount of deposit on which interest is allowed, as shown by the bank's
Dunkak has, however, made known his intention of seekin grecords at the close of business June 30 1909.
The information submitted by you will be regarded as confidential and a conference with Gov. Hughes in the hope of again restoring
used only in connection with like returns from other banks.
the system hitherto in vogue, the view being taken that
If possible please forward your statement by return mall on the appended detrimental results will follow because of the fact that prices,
form under cover of the enclosed addressed envelope, which does not
under the new system will not be available until the close of
require postage.
Yours very respectfully,
the day instead of in the morning, as heretofore. Mr. DunLAWRENCE 0. MURRAY, Comptroller.
kak claims that the prices not only served as the basis for the
is
The blank accompanying the letter on which the data
bulk of business in New York, but were the current rates for
to be supplied is as follows:
business as far West as the Missouri River, and ventured the
The Comptroller of the Currencu:
opinion that four-fifths of the dealings in butter, cheese and
The information requested in your letter of July 22 is sibmitted herewith:
eggs in the Chicago, Philadelphia and Boston exchanges was
Deposit in this bank on June 30 1909 exclusive of amount due to other
done in accordance with the prices of the Quotation Combanks:
Savings deposits.'
mittee of the New York exchange. The change will go
All other deposits.
into effect on Wednesday next, the 25th inst.
Total.
Minimum individual deposit on which interest is allowed.
—John C. Latham, senior member of the banking firm of
Depositors.
Latham,
Alexander & Co. of this city, died on Wednesday of
Number of saving depositors.
Mr. Latham was in his sixty-fourth year.
pneumonia.
bank.
excluding
depositors,
Number of all other
Average rate of interest paid.
He was born in Hopkinsville, Ky., where the body will be
On saving accounts.
taken for burial, but had been identified with the business
On all other accounts, excluding banks.
interests of the city since 1869. Charles Fraser is the sur• Savings deposits may be defined as deposits (a) which may be withviving member of the firm, which has been an important
drawn only on presentation of the pass-book, or other similar form of receipts which permits successive deposits or withdrawals to be entered factor in cotton, as well as financial affairs. It is announced,
thereon; or (b) which at the option of the bank may be withdrawn only however, that owing to Mr. Latham's death, the business
at the expiration of a stated period after notice of intention to withdraw
will be liquidated.
has been given; or (c) upon which no interest is allowed until the funds
have remained on deposit for at least three months.
—Samuel J. Seligman, formerly prominent as a banker,
—The New Orleans Stock Exchange has decided to con- but who had retired from active business several years ago,
form to the conditions prevailing on the New York Stock died suddenly on Wednesday at his summer home at Deal
Exchange in the matter of quoting bonds. After Sept. 1 Beach, N. J. Mr. Seligman was admitted as a member
the practice of qu.oting prices flat—that is, including inter- of the New York Stock Exchange in 1879, and had conest—will be discontinued, and in future no account will be tinued as a member until his death. He was a son of James!
taken of the interest, all prices being "and interest," the Seligman, of the firm of J. & W. Seligman & Co. He was
buyer paying the accrued interest in addition to the price. fifty-five years of age.
The new method has been in operation on the New York
—Max G. Hopf, who occupied a confidential post with
Stock Exchange since Jan. 1, and the Philadelphia, Balti& Co. of this city, died on Wednesday after a brief
Speyer
more and Pittsburgh Stock Exchanges have since adopted
Mr. Hopf had been associated with Speyer & Co.
illness.
a like course. The action by the New Orleans Stock Exnearly
thirty years, his connection with the firm dating
for
change was taken at the instance of the New Orleans Clearfrom 1880, when he entered its employ as a boy. Mr. Hopf
ing-House Association.
had also been identified with the management of the Provi—The State Banking Board of Texas, created under. dent Loan Society.
the law providing guaranty features, was organized on the
—As the result of an inquiry made by the District Attor12th inst. The composition of the board, in accordance
office into a loan made to M. M. Joyce, a broker of this
ney's
with the law, is made up of the Attorney-General, Commiswhich the Windsor Trust Co. acted as clearing agent,
in
city,
State
the
Treasurer.
sioner of Insurance and Banking and
has dismissed from its employ Sterling Birminglatter
the
Attorney-General Davidson has been elected Chairman and
of its loan department, and has issued the
manager
ham,
State Treasurer Sparks has been chosen Secretary of the
following statement in the matter:
board.
Sterling Birmingham is no longer connected with the Windsor Trust
Under an opinion of Assistant Attorney-General Hawkins Co., having been discharged when it was ascertained that he had accepted
it is necessary for,a majority of the capital stock of financial a commission of $250 in connection with the loan supposedly made by
Katz, President of the Eastern Brewery, to M. M. Joyce.
institutions to concur in exercising the option of selecting Charles
The company has made an exhaustive examination into the circumstances
the plan of bank guaranty.
surrounding this loan and any possible connection of the officers or employwith Richard Kaufman, and is convinced that it has not had any
—A feature, just announced, of the entertainment pro- ees
transaction with Kaufman or any of his associates further than as a clearing
gram provided for the annual convention of the American agent in the transaction referred to.
Inasmuch as the office of the District-Attorney has under consideration
Bankers' Association at Chicago will be the presence of
the act of Mr. Birmingham In accepting a commission, it is manifestly
President Taft at the grand ball to be given at the Audi- improper
that this company should comment further upon Mr. Birmingtorium Theatre on the evening of Thursday, Sept. 16.
ham's relation to the case.
The inquiry, out of which have also grown several indict—The National Association of Supervisors of State Banks
will hold its eighth annual convention at the Hotel La Salle, ments, concerned a loan of $50,000 obtained by Mr. Joyce,
made known its views in the matter, it is rumored that the
central bank plan has been receiving favorable consideration. Because of the time consumed on the tariff problems,
it is now deemed unlikely that the report of the Commission
will be in shape for presentation to Congress much before
December 1910.
—On behalf of the Monetary Commission, all classes of
banks throughout the country have been asked for data
bearing on their deposits and depositors in a circular letter
recently sent out by Comptroller of the Currency Lawrence
0. Murray. The information, which is desired in connection with the reports made at the request of the Commission
on April 28, is asked for in the following communication
addressed to national, State and private banks and trust
companies, and a letter on somewhat similar lines is understood to have been sent to the savings banks.
448
THE CHRONICLE
who deposited as collateral $110,000 of stock of the DavisDaly, Ohio Copper and United Copper companies (Heinze
concerns), some of which, it is claimed, came into Mr. Joyce's
possession through market transactions a few days after the
negotiations for the loan had been concluded. Although
it appears from the letters which have been published that
the trust company's part in the proceedings was purely in a
clearing capacity, Mr. Joyce, who had seemingly been under
the impression that it was the principal, tendered the company payment, With interest, of the loan, and sought the
return of the collateral; but was informed that the institution
did not have the security. The inquiry was thereupon
started. Indictments in the matter have been returned
against Donald L. Persch, a young curb broker, who is
charged with the hypothecation of the securities; Walter L.
Clark, a broker, and Charles Katz, President of the Eastern
Brewing Co. Mr. Clark, it is stated, is charged with grand
larceny and Mr. Katz with complicity in the theft of the
securities deposited as collateral for the loan. Sterling
Birmingham, the former loan clerk of the trust company,
was arraigned yesterday on a charge of violating the section
of the law which prohibits employees of banking institutions
from accepting fees. The hearing in his case will be had
next Tuesday.
—John A. Noble has been advanced from the assistant
cashiership to the cashiership of the Night and Day Bank
of this city, succeeding in the latter post G. L. Wilmerding.
Mr. Noble was formerly associated with the Merchants
National Bank of this city.
—The Equitable Trust Co. of this city has discontinued its
branch at 26 Broadway. The offices were formerly those
of the Bowling Green Trust Co., but since the consolidation
last spring of the Bowling Green and Equitable trust companies had been operated as the latter's Bowling Green
Branch.
—Under an opinion handed down by Judge Hough in the
United States District Court on the 14th inst. the claim
of Charles M. Crouse to $90,698, representing payment
of an insurance policy on the life of the late T. A. McIntyre, is
upheld. The claim had been contested by C. C. Burlingham,
trustee in bankruptcy of the firm of T. A. McIntyre &
Co., who, it is stated, sought to have the money distributed
among all the creditors, alleging that its delivery to Mr.
Crouse would constitute a preferential payment. The policy
was assigned to the latter when the firm found itself unable
to meet his demand for the return of certain stocks which
had been lent them by him.
—Erwin D. Farnsworth has been, made senior Assistant
Cashier of the Union National Bank of Newark, N. J.,
succeeding the late Albert Haefeli. William C. Pearson
replaces Mr. Farnsworth as Second Assistant.
—A final dividend in liquidation to the stockholders of the
failed Central National Bank of Boston is announced. The
distribution to the stockholders was begun in Jan. 1908, after
full return, including interest, had been made to the depositors. In all a total of 36.39% has been paid to the stockholders-5% in Jan. 1908, 25% in Feb. 1909 and the present
dividend of 6.39%. The bank suspended in Nov. 1902; no
assessment was made on the shareholders.
al—Arthur B. West, President of the Chicopee National
Bank of Springfield, Mass., died on the 18th inst. Mr. West
had been affiliated with the institution for 45 years and
had been a member of its official staff since 1878. In that
year he became Assistant Cashier, and the following year
was advanced to the cashiership, continuing in that post
until 1902, when he was elected President. He was also a
trustee of the Springfield Institution for Savings. Mr. West
was born in 1843.
—The Pennsylvania Bankers' Association will hold its
annual convention at Bedford Springs, Pa., on Sept. 7 and 8.
—J. N. Davidson has been elected Vice-President of the
Dollar Savings Fund & Trust Co. of Pittsburgh, to succeed
the late Dr. C. H. Voight. Mr. Davidson is President of
•
the Second National Bank of Allegheny.
—Robert N. Harper, formerly President of the American
National Bank of Washington, D. C., is identified with a
project to organize the District National Bank of Washington,. the capital of which is to be $250,000. Mr. Harper's
associates in the movement are J. Miller Kenyon, Henry B.
[VoL. Lxxxix.
F. McFarland, Ernest H. Daniel, W. S. Hoge and J. S.
Tyree.
—George W. Bright, who has been President of the Ohio
Trust Co. of Columbus, Ohio, since its organization in
1900, has been elected to the newly created office of Chairman
of the board of directors. The creation of the new post and
Mr. Bright's election thereto was brought about through
the desire of Mr. Bright to be relieved of some of the managerial duties. John L. Vance Jr. has been elected as Mr.
Bright's successor in the presidency. Mr. Vance has also
been identified with the management of the company
since its start. He was originally Secretary and Treasurer
and in 1907 was made a Vice-President. The company
recently took steps toward increasing its capital from
$500,000 to $700,000, and arrangements were made for the
disposal of the new stock to a synidcate headed by Myron
T. Herrick, President of the Society for Savings of Cleveland,
and Joseph R. Nutt, Secretary of the Citizens' Savings Bank
& Trust Co. of Cleveland, both of whom were added to the
board of the Ohio Trust.
—The Continental National Bank of Indianapolis, whose
application to organize was approved by the Comptroller
of the Currency nearly a year ago, is preparing to begin
business next month. George F. Quick, it is reported, has
been elected President. The capital is fixed at $500,000.
—The First National Bank of Tipton, Ind., which closed
its doors on July 26, following the disappearance of Assistant
-Cashier Noah R. Marker and the discovery of a deficiency in
the vaults, reopened for business on Monday, the 16th inst.
The resumption was made possible through the action of the
stockholders in agreeing to provide sufficient cash to cover
all shortages and bad accounts. The total shortage, the
Indianapolis "News," states, is less than $200,000, of which
$105,000 is traceable to the defalcations of Assistant Cashier
Marker. It is also said that if the courts should hold that
$40,000 worth of bonds held by the Fletcher National Bank
is an asset of the Tipton institution, the latter's loss will be
reduced to about $160,000. George Shortie Jr. has been
elected to succeed W. H. Marker as Cashier of the bank,
and John E. Shirk has replaced N. R. Marker as Assistant
Cashier. The withdrawals on the day of reopening were reported as but little in excess of the amounts deposited.
—Ross N. Wallace has replaced Fred. N.Smith as Cashier
of the Union National Bank of Indianapolis.
—At a meeting on July 19, the stockholders of the Scandinavian-American National Bank of Minneapolis approved
a proposition to increase the capital from $250,000 to $500,000. The new stock will be sold at $110 per $100 share, and
the premium credited to surplus. Subscriptions on the new
stock are payable Oct. 15, at which time the enlarged capital
will become operative. The bank began business on May 18
last.
—The Tradesman's State Bank of Oklahoma City, Okla.,
which has been organized with $50,000 capital, is scheduled
to open on Sept. 1. Frank J. Wyckoff, it is stated, is to be
President of the institution.
—The receivers of the failed Exchange Bank of Macon, Ga.,
have been authorized to pay a dividend of 5% on Sept. 6 to
the depositors and creditors of the institution. The bank
suspended on July 7 1907, and thus far, not including the
prospective payment, 70% has been distributed.
—The directors of the Central Bank & Trust Co. of Houston, Texas, at a meeting on the 11th inst., took action toward
increasing the capital from $100,000 to $200,000. They also
recommended the adoption by the institution of the assessment form of guaranty provided by the law, which became
operative on the 9th inst.
—J. Dalzell Brown, formerly Vice-President and General
Manager of the failed California Safe Deposit & Trust Co.
of San Francisco, who in May 1908 was sentenced to eighteen
months' imprisonment on the charge of embezzling 65 bonds
of the Sacramento Gas & Electric Ry. deposited with the
institution, was released from prison on the 13th inst., his
term having been reduced to fifteen months because of good
conduct.
—An application to organize the Pacific National Bank of
Los Angeles was recently approved by the Comptroller of
the Currency: The institution is to have a capital of $200,000. J. M. Neeland, President of the Bank of Southern
THE CHRONICLE
AUG. 21 1909
California at Los Angeles, is interested in the formation of
the new bank.
-The Central National Bank of Oakland, Cal., now being
formed as a conversion of the Central Bank, will be under
the same management as the latter, with J. F. Carlston as
President; R. M. Fitzgerald, Vice-President; H. A. Mosher,
Cashier, and A. J. Mount, Assistant Cashier. The National
nstitution is to have a capital of $1,000,000.
IMPORTS AND EXPORTS FOR JULY.
The Bureau of Statistics at Washington has issued the
statement of the country's foreign trade for July,and from it
and previous statements we have prepared the following interesting summaries:
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are in all cases omitted.)
1909
Exports. Imports.
Merchandise.
$
January-March ___ 422,056 355,104,
April-June
365,917 362,893
109,452 112,290
July
897,425
Total
Gold and Gold in Ore.
37,978
January-March
25,856
April-June
16,662
July
80,496
Total
Silver and Silver In Ore.
14,474
January-March _ _
April-June
14,886
July
5,049
-Total
34,409
Excess.
+66,952
+3,024
-2,838
1908
Exports. Imports. Excess.
$
515,460 258,864 +256,596
362,337 263,587 +98,750
103,200
86,436 +16,764
830,287
+67,138
980,997
608,887 +372,110
12,158
7,977
3,270
+25,820
+17,879
+13:392
3,859
49,659
4,845
17,296 -13,437
9,112 +40,547
+1,896
2,949
23,405
+57,091
58,363
29,357
+29,006
10,453
12,419
3,926
+4,021
+2,467
+1,123
12,586
12 928
4,931
10,831
10,311
3,039
+1,755
+2,617
+1,892
26,798
+7,611
30,445
24,181
+6,264
+ Excess of exports. -Excess of Imports.
We subjoin the totals for merchandise, gold and silver for
seven months since January 1 for six years:
.1ferchandise.
Seven
.11011111,7.
Exports,
1909___
897,425
980,997
1,069,00
1906___ 969,5:36
1905_ 848,89
1904- 758,949
• Jotports.
Siker.
Gold.
Excess
ExOf
Exports ports.
$
$
830,287 67,138
608,887372,110
875,901 193,099
739,952229,584
674,454 174,445
579,531 179,418
$
80,496
58,363
43,779
32,913
40,991
69,532
Excess
Intof
Exports. Exports ports.
Excess
Imof
ports. Exports
$ '
$
$
23,403 57,0911.34,409
29,357 29,006 30,445
24,8791 18,900 35,174
721,372 *39,459 37,798
21,583, 19,408 29,366
56,689 12,843 30,90:3
$
26,798
24,181
25,7831
26,955
18,149
15,1571
$
7,611
6,264
9,391
10,843
11,217
15,746
* Excess of impor0i.
Similar totals for the month of July for six years make
the following exhibit:
One
Month.
1009...
1908_ _ _
1907_ -1906.
1905_ _ _
1904 _
11ferchanelise.
Exports.
Excess
lotof
Exports. Exports ports.
109,452
103,200
128,550
111 ,893
107,930
85,223
112,290
86,436
124,622
102,593
84,513
71,194
*2,838 16,662
16,764 4,845
3,928 7,478
9,100 1,302
23,417 1,159
14,021
1,083
Gold.
Silver.
Excess
Exof
Jotports. Exports ports.
Excess
of
finports. Exports
3,270
2,949
3,410
9,834
4,973
8,925
13,392
1,896
4,068
*8,532
*3,814
*7,842
5,049
4,931
5,955
4,361
4,285
4,535
3,926
3,039
3,387
3,278
2,976
1.381
1,123
1,892
2,568
1,083
1,309
3,154
* Excess of Imports.
In these tables of totals, gold and silver in ore for all years
are given under the heads respectively of gold and silver.
The following shows the merchandise balance for each year
back to 1875:
EXCESS OF MERCHANDISE IMPORTS OR EXPORTS.
1 month ending July 317 months ending July 311875Imports
$25,472,478
Imports 83,677,266 1875
1876
Exports 9,236,241 1876
Exports 59,300,024
1877
. _Exports 35,480,343
Imports 2,416,060 1877
1878
Exports 166,517,286
Exports 10,662,751 1878
1879
Exports 9,644,349 1879
Exports 124,680,960
1880
Exports 13,710,587 1880
Exports 44,874,081
1881
Exports 10,610,936 1881
Exports 108,610,902
1882
Imports 11,187,337 1882
Imports 50,624,367
s. _Imports 4,096,846 1883
1883
Exports 41,986,173
Imports
1884
Exports 10,242,803
513,032 1884
Imports 3,362,624 1885
Exports 51,951,069
1885
Imports 2,855,086 1886
1886
Imports 3,833,824
Imports 7,197,314 1887
Imports 34,287,441
1887
Imports 14,157,356 1888
Imports 75,732,756
1888
Imports 19,528,719 1889
Imports 50,183,975
1889
Imports 23,114,472 1890
Imports 41,835,835
1890
Imports 4,373,142 1891
Imports 17,634,713
1891
Imports 7,368,263 1892
Exports 40,157,149
1892
Exports 5,927,790 1893
Imports 62.872.231
1893
Imports 12,687,890 1894
1894
Exports 59,182,709
Imports 16,484,057 1895
Imports 21,219,092
1895
Exports 15,609,237 1896
1896
Exports 90,565,677
Exports 17,429,209 1897
Exports 54,391,108
1897
Exports 21,540,668 1898
1898
Exports 316,821,427
Exports *34,824,426 1899
1899
Exports 239,398,180
Exports 36,793,115 1900
1900
Exports 309,408,206
Exports 36,370,075 1901
1901
Fxports 324,781,593
Exports 9,642,753 1902
1902
Exports 191,496,774
Exports 9,625,44211903
1903
Exports 194,532,842
Exports 14,029,536 1904
1904
Exports 179,418,080
Exports 23,417,815 1905
1905
Exports 174,445,404
Exports 9,100,825 1900
1906
Exports 229,584,223
Exports 3,927,642 1907
Exports 193,098,831
1907
Exports 16,764,083 1908
1903
Exports 372,110,441
Imports 2,837,862 1909
1909
Exports 67,138,016
449
ill()actarBiTrim=ercialignolistigtwii
London, Saturday, August 14 1909.
The small interest which the European market in general,
and the English market in particular, has taken in the extraordinary rise in American railroad securities since the
panic has probably caused considerable surprise to American readers who have not made a special study of English
economic conditions. The sensational advance in Union.
. Pacific shares and the excellent crop statements of the various States of the Union, coming concurrently this week,
attracted attention to the matter. It is perfectly true that
those who bought Union Pacific shares in the height of the
panic and held them until this week would have made practically 100% profit. But the attitude of the English market in recent years towards American railways is very
largely influenced by the crop position, or, rather, by the
need for obtaining an ample supply of wheat for our home
consumption. Thirty or forty years ago, when the bulk of
American railroad securities was held here, the wheat export available from the American side was ample for our
needs. More recently, the great growth in the American
industrial population, and also the entrance of certain other
European countries besides ourselves into the market, as
buyers of food supplies, has made it imperative for the English trader to consider where our food is to come from.
Various causes govern the course of investment, some of
them sentimental, more of them practical, and it is only
the practical ones that we are here interested with. About
six years ago, it will be remembered, the wheat crop in the
different States was so small as to afford only a trifling balance for export. Fortunately for the European importing
countries in general, and more especially for ourselves, who
depend to the extent of 80% on foreign supplies, there were
abundant harvests in South America, in India, Australia,
a large increase in Canada, and good harvests in Russia, and
in the Danubian provinces of Southeastern Europe. This
state of things, however, showed our traders the danger of
relying too implicitly upon the United States for wheat. To
this fact is owing the great increase in English investment in
railway building, both in Canada and in the Argentine Republic. So enormous has been the increased supply obtained from Argentina that for the crop year ending last
autumn our supply of wheat, as distinct from wheat and
flour combined, was greater from Argentina than from the
United States.
There is another side to this question which materially
affects investors. There is the private investor, who, of
course, looks merely to the safety of his investment and the
yield per cent he can reasonably expect; and there is, in addition, the trading and contracting investor. This man expects to make profit in various ways. For example, both
in Argentina and in Canada, which are still almost wholly
agricultural, a loan subscribed in London for railway building means that the material and the contract work fall to
this side. The development of the United States has of
late become so great that there is no hope for this sort of
profit. According to an estimate cabled this week,the American crop will exceed 700 million bushels. This, of course,
is largely in excess of previous estimates, and has aided in
the "bull" campaign in the railway market. It is, however,
hardly probable that the United States will be able to send us
much in excess of eleven million quarters this year. Assuming this to be the case, it is less than half what we shall require to import during the season.
Money continues as cheap as ever .in London, day-to-day
loans being readily obtainable at M%, while the discount
rate is about 14%. We are getting the bulk of the gold
coming from abroad, but the Bank of England return does
not show the large figures that were expected in some quarters, the reserve being still well under 28 millions sterling
and the coin and bullion item only just a little over 39 millions sterling. However, both Lombard Street and Throgmorton Street are quite satisfied that cheap and easy money
will continue throughout the year, and the latter district
seems little affected by the somewhat uncomfortable incidents which have occurred in the Island of Crete.
The India Council offered for tender on Wednesday 30
lacs of its bills and the applications exceeded 71 lacs, at
prices ranging from is. 3 29-32d. to is. 3 15-16d. per rupee.
Applicants for bills at is. 3 29-32d. and for transfers at
is. 3 15-16d. per rupee were allotted about 42% of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols
&c., compared with the last four years:
1909.
Aug. 11.
1908.
Aug. 12.
£
29,525,790
5,145,638
45,546,992
15,532,293
27,737,982
25,475,113
36,550,903
1907.
Aug. 14.
£
29,345,940
6,640,418
42,617,365
14,573,604
27,904,547
24,958,941
35,854,881
1906.
Aug. 15.
£
29,601,260
9,515,111
42,106,005
15,972,452
27,955,376
26,881,937
37,033,197
1905.
Aug. 16.
£
29,486,995
11,688,344
43,954,016
18,675,814
29,508,479
25,542,308
36,579,303
29,754,875
Circulation
Public deposits_ _ _ 9,302,461
44,291,886
Other deposits
Governm't securities 15,365,672
Other securities_ _ 28,396,299
Reserve,notes&coin 27,835,334
Coln&bull.,both dep 39,140,209
Prop. reserve to lia50 1-16
45%
bilities ____ p.c. 5115-16
50%
501
24
2%
p. C.
3%
234
434
Bank rate
84 3-16
87 15-16
86 11-16
81%
903
Consols, 2% p. c__ _
234d.
27%d.
32%d.
Silver
23%d,
30%d.
Clear.-house returns 219,927,000 208,132,000 205,564,000 251,409,000 237,068,000
The rates for money have been as follows:
-
Aug. 14.
23%
Bank of England rate
Open Market rate13
%
Bank bills-60 days
1%(d)1 7-16
-3 months
-4 months_-_ 13% @1 9-16
2 3-16
-6 months_ _ _
Trade bills-3 months_ __ _
2@23%
23%
-4 months_
sInterest allowed for deposit1
By joint-stock banks
By discount houses1
At call
13%
7 to 14 days
Aug. 6.
24
13%
17-16
13%
24
2@2y,
23%
July 30.
24
July 23.
23%
1 3-16
13-16
13%
13% Qb1 7-16
14
19-16
24
24
2(04
2@23%
24
23%@23%
1
1
1
ly,
1
13%
1
"
1
lx
The bank rates of discount and open market rates at the
chief Continental cities have been as follows:
Rates of
Interest atParis
Berlin
Hamburg
Frankfort
Amsterdam
Brussels
Vienna
St. Petersburg
Madrid
Copenhagen
[VoL. Lxxxxx.
THE CHRONICLE
450
Aug. 14.
Aug. 7.
July 31.
July 24.
Bank Open
Bank Open
Bank Open
Bank Open
Rate. Market. Rate. Market. Rate. Market. Rate. Market.
14
3
14
3
14
3
3
14
33%
2
24
24
34
34
33%
23%
2
23%
24
34
33%
33%
33%
23%
33%
24
24
33%
34
33% 2 1-16
23%
23%
23%
23%
24
13%
1%
13%
13%
3
1%
3
1%
3
14
3
13
%
4
3 1-16
4
3-1-16
4
3
4
23%
53% nom.
53% nom.
53% nom.
53% nom.
44
43%
43%
33%
33%
43%
33%
33%
4
44
33%
43%
33%
5
5
4
The quotations for bullion are reported as follows:
GOLD.
Aug. 12.
s. d.
London Standard,
Bar gold, fine, oz
77 9
U. S. gold coin, oz.._ _ _ 76 4
Gerznan gold coin, oz _ _ 76 4
French gold coin,oz.__ 76 4
Japanese yen
76 4
Aug. 5.
s. d.
77 9
76 4
76 4
76 4
76 4
Aug. 12.
SILVER.
d.
London Standard.
Bar silver,fine,oz_ _234
" 2 mo.delivery,oz _23%
Cake silver, oz
253%
Mexican dollars
nom.
Aug. 5.
d.
233%
233%
/
s
258
•
nom.
Messrs.Pixley & Abell write asfollows under date of Aug. 12:
English Financial Markets-Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
Thurs. Frt.
Mon.
Wed.
Sat.
Tues.
Week ending Aug. 20.
23 7-16 233%
d 23 9-16 23 9-16 239-16 233%
Silver, per oz
843%
84 5-16 845-16 847-16 843%
Consols, new,24 percents._ 844
84 7-16 843%
843%
84 5-16 84 7-16 843%
For account
98.124 98-.15
98.15
98.174
French rentes (in Paris)._ fr_
8iIK
88
87
883%
863%
Amalgamated Copper Co_ _ _ _ 98.074883%
104
104
104
93%
104
93%
Co
Mining
Anaconda
S
1203%
123
1224
1223%
1223%
Atchison Topeka & Santa Fe 1224
107
1074
1074
107
Preferred
1073%
1073%
1213%
122
121
1204
1223%
1224
Baltimore & Ohio
96
96
96
96
96
96
Preferred
1884
1914
1904
1893%
1903%
1913%
Canadian Pacific
823%
844
854
843%
833%
843%
Chesapeake & Ohio
3
3
34
34
4
3
Chicago Great Western
161
160
1643%
164
1643%
Chicago Milw. & St. Paul_ _ _162%
52
51
514
504
493%
Denver & Rio Grande
513%
89
90
89
903%
904
90
Preferred
374
36
38
383%
Erie
383%
373%
563%
553%
553%
563%
First preferred
563%
563%
44
45
454
46
464
46
Second preferred
1604
1623%
164
164
1643%
165
Illinois Central
163
1643%
163
1643%
Louisville & Nashville
1644
1603%
423%
42
43
434
Missouri Kansas & Texas_ _ _ 433%
434
753%
76
Preferred
76
76
753%
763%
543%
544
534
54
543%
Nat. RR.of Mexico, 1st pref. 54
234
234
234
244
244
Second preferred
233%
148
144
152
1504
1504
N. Y. Cent. & Hud. River_ _146
504
504
514
52
524
N. Y. Ontario & Western__ _ 514
963%
963%
Norfolk & Western
974
974
97
973%
93
93
933%
Preferred
933%
93
93
159
1604
1623%
Northern Pacific
1624
1614
1624
72
724
734
734
73
733%
a Pennsylvania
81
834
84%
844
844
a Reading Company
833%
484
4$4
484
484
483%
483%
a First preferred
513%
514
514
52
%
513%
a Second preferred
513
41
424
393%
413%
43
424
Rock Island
136
1384
Southern Pacific
1423
141
1413%
1393%
32
324
334
Southern Railway
334
333%
3434
734
Preferred
74
75
743%
75
75
Pacific
2144
2103%
Union
2244
2214
2183%
2203%
1124
Preferred
1183%
121
113
1164
1163%
753%
804
783%
U. S. Steel Corporation
79
783%
803%
Preferred
1303%
1284
1294
1284
1283%
1283%
224
224
214
214
213%
214
Wabash
Preferred
554
58
57
59
58
553%
Extended 4s
793%
78
80
784
794
79
GOLD.The Bank of England has again secured a good portion of this week's
arrivals of gold, not much more than £270,000 being taken for the Continent.
Next week we expect 2625,000 from South Africa and £90,000 from India and Australia. The week's movement are as follows: In-Bars, £422,000; sovereigns
Malta,£20,000; France,£16,000; total, £458,000. Out-Nil. For the week: Arrivals-South Africa, £608,000; West Indies, £23,000; West Africa, £4,500; total,
2635,500. Shipments-Bombay,£57,500; Calcutta, £3,000; total, £60,500. For
month of July: Arrivals-Germany, £18,000; France, £14,000; India, £180,000
South Africa, £2,267,000. shipments-Germany, £1,193,000; France, £164,000:
Austria, £214,000: India,£313,000.
SILVElt.-There has been no fluctuation in silver during the week, and the price
has remained at 234d.since the 4th of August. The support has come from India,
the Bazaars having sent large buying orders for this mall, the last in time for the
a Price per share. b £ sterling.
September settlement, and shipments are expected to amount to about £450,000.
It must not be inferred, however, that the whole of this amount has been bought
in the market, a considerable portion has no doubt been borrowed by selling an
equivalent amount forward, nor, on the other hand, does it represent a genuine demand for this amount in Bombay, the up-country off-take showing little or no improvement. The operation is really a transfer of so much stock from London to
India, and the amount left in London has in consequence been much reduced, the
stringency being further increased by some holders taking delivery of their silver,
Auction Sales.-Among other securities the following, not
Instead of carrying it on the market. At the close there are still buyers for to-morrow's mail, but no silver is available for this except at a premium. Once the steamer regularly dealt in at the Board, were recently sold at auction.
has gone, and the large amount of the shipment is known,some reaction is looked
By Messrs. Adrian H. Muller & Son:
for, but it is doubtful whether this will go far, as orders are expected from China on
Bonds.
Stocks.
any fall. The position in China remains the same and business is reported as very
1 Slate Belt Elec. St. Ry
$500 Carbon Transit Co. (Mauch
quiet. Exchange in India is inclined to drop,and Bombay has quoted ls.3 27-32d.
Lawyers'
Title
Ins
&.
5s, 1938; F & A_48&Int
Tr.
Co...
25
245
1st
Chunk,
Pa)
/
3
s
for transfers. The Indian price is Its. 60 for silver. For the week: Arrivals1 Trust Co. of America
365
$1,000 Slate Belt Elec. St.Ry.(Pen
New York,£208,000; West Indies,25,000; total, £213,000. Shipments-Bombay,
Union Typewriter Co. 1st pref_ _1174
1938: M & N_30&int
4s,
20
Pa.)2d
Argyl,
of
July:
month
£63,000.
For
Arrivals
-Ger261,500; Port Said, £2,000; total,
Northern Bank of New York. 1054 $3,900 Standard Cordage Co.adjustmany,£17,000; France,£31,000; U.S. A.,£868,000. Shipments-Russia,£45,000; 20
134
Bands.
ment 5s, 1931
Germany,£105,000.
$1,000 Bethlehem,' Nazareth Pass.
$600 Union League Club of 13klyn
$475
The following shows the imports of cereal produce into
Ry. 1st 5s, 1929; Id & N __40 & int
1st 5s, 1910
.
_
the United Kingdom during the season to date, compared
Tommercialand Miscdimwit:insgiews
with previous seasons:
Farty-ntne weeks.
I mports of wheat
Barley
Oats
Peas
Beans
Indian corn
Flour
IMPORTS.
1907-08.
1908-09.
cwt_ 85,442,100 87,212,150
20,899,200 19,346,986
14,154,100 12,363,699
1,336,810
1,434,400
925,940
1,212,200
36,218,700 37,003,657
10,562,400 12,888,600
1906-07.
88,403,352
18,819,034
10,112,914
1,617,970
420,830
47,190,470
12,612,172
1905-06.
87,928,090
19,698,200
14,864,100
1,677,685
573,910
43,072,700
13,718,070
Supplies available for consumption (exclusive of stock on
September 1):
Wheat imported
Imports of flour
Sales of home-grown
1907-08.
1906-07.
1908-09.
1905-06,
cwt_ 85,442,100 87,212,150 88,403,352 87,928,090
10,562,400 12,888,600 12,612,172 13,718,070
25,532,463 32,861,705 33,996,592 27,746,571
121,536,963 132,962,455 135,014,116 129,392,731
44s. 9d.
31s. 6d.
333. 2d.
30s. 9d.
36s. 3d.
33s. Od.
27s. 8d.
288. 00
Total
Average price wheat, week
Average price, season
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
Wheat
Flour, equal to
Maize
qns
qrs
gra
This week. Last week.
2,125,000
2,235,000
105,000
115,000
945,000
885,000
1908.
1,715,000
120,000
830,000
1907
2,215,000
130,000
970,000
FOREIGN TRADE OF NEW YORK-MONTHLY
STATEMENT.-In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs receipts for the seven months of the last two years:
--I-Merchandise
Month.
1908.
61,789,335
73,074,545
80,729,503
75,898,544
69,230,504
73,252,301
68,687,013
Customs Receipts
at New York.
Exports.
Imports.
1909.
January _
February..
March
April ___
May
June
July
Movement to New York.
47,489,941
50,359,343
52,625,828
53,605,913
50,255,042
50,604,930
49,729,151
1909.
1908.
1009.
50,812,004
45,319,475
58,684,184
51,709,272
48,571,972
52,404,342
50,583,478
$
62,531,690
59,990,726
58,110,795
57,436.142
47,529,637
51,137,522
47,489,381
$
15,795,70
17,775,72
19,064,331
18,802,924
16,846,056
17,318,187
20,728,717
I
Total_._ 502,661,745354,670,148358,084,727 384,240,893126,331,64
1908.
$
14,640,446
15,241,056
14,086,404
13,787,445
12,303,743
13,108,456
14,417,036
97,584,586
The British imports since Jan. 1 have been as follows:
ImportsJanuary
February
March
April
May
June
July
Seven months
1909.
£
53,511,359
50,468,197
52,034,063
49,193,978
44,851,086
51,721,282
50,316,588
1908.
Difference.
Per
£
£
Ct.
56,363,379 -2,852,020 -5.1
52,428,122 -1,959,928 -3.7
-81,316 -0.1
52,115,379
47,094,711 +2,099,267 +4.4
44,258,315
+592,771 +1.3
46,135,319 +5,585,963 +12.1
46,769,015 +3,547,573 +2_.6
351,953,489 345,053,930
+6,899,559
+2.0
The exports since Jan. 1 have been as follows:
ExportsJanuary
February
March
April
May
June
July
1909.
£
28,803,046
28,024,452
31,904,673
28,958,458
29,525,746
29,717,975
35,487,240
1908.
£
34,407,767
31,949,514
32,910,760
30,705,338
31,066,877
28,953,139
33,705,725
per
Difference.
£
Ct.
-5,604,721 -16.3
-3,925,062 -12.3
-1,006,087 -3.1
-1,746,880 -5.7
-1,541,131 -5.0
+764,836 +2.6
+1,781,515 +5.3
The imports and exports of gold and silver for the seven
months have been as follows:
Gold Movement at New York.
Month.
Imports.
1009.
January
February
March
April
May
June
July
Total
714,693
819,731
2,728,363
742,911
619,503
578,263
470,018
1908.
Exports.
1908.
1909.
66,925
7,585,759 7,843,125
636,087
1,300,840 8,818,220
135,985
1,925,862 21,173,385
900,777 6,269,450 11,677,173
1,471,272 11,094,572 25,568,226
989,058 5,233,050 7,987,653
569,791 13,405,800 1,059,656
Silver-New York.
Imports.
1909.
641,580
612,183
606,421
550,733
707,120
844,364
567,042
Exports.
1908.
3,937,649
3,904,913
3,767.344
3.968.915
3,486,494
4,144,201
4,068,843
6,672,882 14,743,359 73,837,602 47,131,705 4,530,343 27,278,359
212,421,590 223,699,120 -11,277,530 -5.0
NationaliBanks.-The following information regarding
The re-exports of foreign and colonial produce since Jan. 1 national banks is from the office of the Comptroller of the
show the following contrast:
Currency, Treasury Department.
Difference.
1908.
Seven months
Re-exportsJanuary
February
March
April __
May _
June
July
1909.
£
6,687,551
8,473,634
7,540,319
8,631,006
7,251,248
7,965,605
7,374,231
£
6,599,209
7,497,673
5,965,255
6,773,228
6,431,654
6,029,312
6,310,928
£
+88,342
+975,961
+1,575,064
+1,857,778
+819,594
+1,936,293
+1,063,303
Per
Ct.
+1.0
+13.0
+26.4
+27.4
+12.8
+32.3
+16.9
Seven months
53,923,399 45,607,259 +8,316,140 +18.2
Note.-The aggregate figures are official. They indicate that slight adjustments
have been made In the monthly returns as issued.
APPLICATIONS TO CONVERT INTO 'NATIONAL BANKS
APPROVED.
The Farmers' State Bank of Center, Colo., into the "First National Bank
of Center." Capital $30,000.
The Bank of Ely, located at East Ely, Nev., Into the "Copper National
Bank of East Ely." Capital $50,000.
NATIONAL BANKS ORGANIZED.
August 9 to August 12.
9.496-The nited States National Bank of Vale, Ore. Capital, $75,000.
J. L. Cole, President; T. IV. Halliday and L. J. Hadley, Vice-Presi-
dents; Elwood L. Clark, Cashier; W.J. Douglass and J. R. Weaver,
Assistant Cashiers. Conversion of the First Bank of Vale.
9,497—The First National Bank of Burr Oak, Mich. Capital, $35,000.
A. C. Himebaugh, President; Benjamin F. Bordner, Vice-President;
G. D. Bordner, Cashier.
9,498—The Farmers' dc Merchants' National Bank of Bridgeton, N. J.
Capital, $150,000. Reuben C. Hunt, President; John F. Johnson
and Harry L. Woodruff, Vice-Presidents; Archer Platt, Cashier.
R. P.
9,499—The National Bank of Palouse, Wash. Capital, $50,000.
Ward,President; A. L. Hill, Vice-President; Geo. C. Jewett, Cashier.
3,500—The Batavia National Bank, Batavia, Ill. Capital, $50,000. John
C. Augustine, President; Alexander L. Metzel, Vice-President;
Nicholas L. Johnson, Cashier.
9,501—The First National Bank of Fordyce. Ark. Capital, $50,000. J. E.
Hampton, President; W. J. Procter and J. A. Abernathy, VicePresidents; F. T. Hunter, Cashier.
9,502—Central National Bank of Oakland, Cal. Capital, $1,000,000.
J. F. Carlson, President; R. M. Fitzgerald, Vice-President; H. A.
Mocher, Cashier; A. J. Mount, Assistant Cashier.
LIQUIDATION.
8,177—The First National Bank of lieota. Okla.
July 26, 1009.
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
451
THE CHRONICLE
AUG. 21 1909.1
Per
Cent.
When
Payable.
Books Closed.
Days Inclusive.
Statement ofiliew,jYork-4City Clearing-House Banks.—The
detailed statement belowkshows the condition of the New
York Clearing-House banks for the week ending Aug. 14.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
We omit two ciphers (00) in all cases.
Loans.
Average.
Capital. Surplus.
Banks.
00s omitted.
Bank of N. Y_
Manhattan Co_
Merchants' _ -Mechanics'
America
Phenix
City
Chemical
Merchants' Ex.
Gallatin
Butch. dt Drov_
Greenwich _ _ _ _
Amer. Exch_ _
Commerce
Mercantile _ _ _ _
Pacific
Chatham
People's
Hanover
Citizens' Cent_ _
Nassau
Market & Fult'n
Metropolitan _ _
Corn Exchange_
Imp.& Traders'
Park
East River._ _
Fourth
Second
First
Irving Exch. _
Bowery
N. Y. County_ _
German-Amer
Chase
Fifth Avenue_ _
German Exch.Germania
Lincoln
Garfield
Fifth
MetropolLs _ _
West Side
Seaboard
Liberty
N.Y.Prod.Ex.
State
14th Street__ _ _
Copper
Coal & Iron
2,000,0
2,050,0
2,000,0
3,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
250,0
3,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
250,0
1,000,0
' 200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
2,000,0
1,000,0
3,452,5 20,734,0
3,567,7 38,500,0
1,692,7 22,238,0
3,701,3 32,921,0
5,178,4 29,216,5
680,3
7,853,0
27,811,3 202,180,4
5,958,3 29,195,5
554,5
7,013,7
2,419,0
9,596,7
2,245,2
157,6
755,1
7,251,7
5,051,3 30,393,6
15,722,1 174,785,3
2,495,7 15,253.8
3,888,5
864,8
7,521,8
1,024.4
2,142,6
470,5
10,747,5 68,394,2
1,484,5 23,753,2
5,886,0
435,8
7,785,1
1,674,0
1,309,7 11,378,3
5,372,3 44,347,0
7,554,5 27,461,0
9,792,8 93,362,0
1,364,7
104,3
3,399,6 26,747,0
1,868,6 11,885,0
18,968,1 112,748,7
1,450,4 20,529,6
3,398,0
789,7
8,176,1
1,631,2
4,216,8
656,2
6,655,1 86,173,3
2,178,6 12,995,9
3,673,7
857,6
1,020,9
4,910,9
1,312,4 15,789,6
7,581,6
1,160,8
3,134,9
475,4
2,020,2 10,789,2
4,421,0
1,087,3'
1,782,1 19,433,0
2,610,4 17,614,5
14,297,0
687,2
810,3 12,615,0
5,425,7
320,1
2,675,0 27,961,6
5,571,0
303,9
Specie. Legals. Deposits.
Average. Average. Average.
$
3,867,0 1,426,0
9,735,0 1,559,0
4,172,0 1,903,0
8,058,0 1,167,0
5,851,2 2,079,3
1,288,0
586,0
60,843,3 7,191,0
5,394,1 2,061,4
1,285,4
560,1
790,2
1,144,6
349,1
100,5
1,868,0
200,0
4,098,3 1,739,1
30,915,0 11,099,0
2,155,6 1,080,0
394,8
482,4
1,020,3 1,185,3
132,8
464,0
16,412,0 7,490,3
5,636,5
317,6
642,1
977,0
1,153,0 1,341,1
2,681,1
174,8
7,163,0 5,798,0
4,729,0 1,818,0
24,718,0 1,908,0
161,6
192,5
5,042,0 2,300,0
272,0
2,824,0
27,842,1 1,642,7
3,967,5 1,682,9
64,0
793,0
650,8
1,301,6
222,6
877,5
17,934,0 5,234,0
2,851,6 1,042,0
405,8
375,8
524,4
876,6
3,280,3 1,029,4
188,1
1,878,8
309,5
642,0
893,4 1,751,5
233,0
1,045,0
4,120,0, 1,790,0
3;654,4 4 979,3
372,5
2,269,7
260,0
3,648,0
517,4
848,6
6,961,0
890,0
961,0
688,0
ReVe.
19,444,0 27.2
45,575,0 24.7
24,254,0 25.0
35,519,0 25.9
31,480,9 25.1
7,233,0 26.4
217,722,4 31.2
28,379,0 26.4
7,362,4 25.0
7,577,2 25.5
2,035,2 22.1
8,199,5 25.2
23,358,9 25.1
162,602,2 25.9
12,320,9 26.2
3,516,9 24.9
8,244,6 26.7
2,491,4 23.9
83,711,7 28.6
23,843,7 25.1
6,465,9 25.0
8,114,7 30.7
11,338,6 25.1
52,128,0 24.8
25,743,0 25.4
106,683,0 25.0
1,491,0 23.7
28,638,0 25.6
12,204,0 25.3
108,428,2 27.1
21,709,1 26.0
3,465,0 24.7
8,286,9 23.9
4,170,2 26.3
95,412,1 24.2
14,877,7 26.1
3,528,8 22.1
5,632,5 24.8
17,084,2 25.2
7,741,7 26.7
3,431,9 27.7
10,527,7 25.0
4,904,0 26.0
22,932,0 25.7
17,612,11 26.3
10,046,5 26.3
15,490,0 2.3.2
Railroads (Steam).
3
Aug. 31 Holders of rec. July 24
Alabama Great Southern. pref
Ashland Coal & Iron Ity
50c. Sept. 25
3
Baltimore & Ohio, common
Sept. 1 Holders of roe. July 310
2
Preferred
Sept. 1 Holders of rec. July 31a
Buffalo dr Susq., pref. (guar.)(No. 29). 1
Sept. 1 Holders of roe. Aug. 21h
Oct. 6
to
3
Canadian Pacific, common
Sept. 30 Sept. 2
Oct. 6
to
Common (extra)
Sept. 30 Sept. 2
Oct. 6
to
Preferred
2
1 Sept. 2
Oct
Chesapeake & Ohio (guar.)
1
Sept. 30 Holders of roe. Sept. 11
Chicago Milw. & St. Paul. corn. & pref.. 3% Sept. 1 Holders of rec. Aug. 11
Cin. N. 0. & Texas Pac., pref. (quar.)_
Sept. 1 Holders of ree. Aug.14a
Cleveland & Pittsb., reg. guar. (guar.)._
Sept. 1 Holders of roe. Aug. 10
Special guaranteed (guar.)
1
Sept. 1 Holders of rec. Aug. 10
Cripple Crk. Central, pref.(quar.)(No.15) 1
Sept. 1 Holders of rec. Aug. 19
Illinois Central
Sept. 1 Holders of rec. Aug. 2
Dubuque & Sioux City
Aug. 18
Great Northern Iron Ore Properties
$1 Sept. 15 Sept. 2 to Sept. 15
Louisiana de Arkansas
Holders of rec. Sept. 16
1%
Minn. St. Paul .5r S.S.M., corn.(No. 13).. 3
Oct. 16 Holders of roe. Oct. 1
Preferred (No. 13)
3% Oct. 16 Holders of roe. Oct. 1
1 Holders of roe. Sept. 20
2
Oct.
Leased line certificates
Aug. 25 Aug. 12 to Aug. 19
2
North Pennsylvania (guar.)
•2
Reading Company, first preferred
Sept. 10 Holders of rec. Aug. 24
Street & Electric Railways.
Sept. 15 Aug. 28 to Sept. 2
American Railways (qua?)
Sept. 1 Holders of rec. Aug. 2
Chicago Railways, Series 1
Sept. 1 Holders of rec. Aug. 16
Columbus(0.) Ity., corn.(guar.)(No.25)
Sept. 1 Holders of rec. Aug. 15
Grand Rapids Ry., corn.(guar.)(No. 13)
Sept. 1 Aug. 20 to Sept. 1
Kansas CUy fly. & Light, pre,. (guar.). _
Sept. 1 Holders of rce. Aug. 30
'Northern Texas Elec. Co., corn. (No. 1)
Sept. 1 Holders of rec. Aug. 30
Preferred (No. 8)
Northwestern Elevated (Chicago), pref._
Oct. 18 Oct. 9 to Oct. 18
Sept. 1 Holders of roe. Aug.10a
Philadelphia Company, pref
Portland (Ore.) Ry.,Lt.drPower, common
Sept. 1 Holders of roe. Aug. 15
Sept. 1 Holders of rec. Aug. 15
St. Joseph Ky., Lt., Ht.& P.. corn. (qu.)
Seattle Electric Co., common
1)1 Oct. lb Holders of rec. Oct. 1
Oct.
1 Holders of roe. Sept. 10
Preferred (No. 18)
3
Susquehanna Ky., Lt. & Power, preferred
Sept. 1 Aug. 15 to Aug. 31
Terre Haute Trac. & Light, pref. (quar.) 3
Aug. 31 Aug. 22 to Aug. 31
Sept. 1 Holders of roe. Aug. 20
Whatcom Co. Ity. & Lt., pref.(No. 12)_. 3
Trust Companies.
Citizens (Brooklyn)
2% Sept. 1 Holders of roe Aug. 18
Miscellaneous.
Amalgamated Copper (guar.)
Aug. 30 Holders of rec. July 22
American Coal
Sept. I Aug. 21 to Sept. 1
5
American Express(guar.)
1 Holders of rec. Aug. 31
Oct.
3
Aug. 1
Amer. Lt. & Traction, corn. (stk div)
10
Sept. 30 July 21 to
American Radiator, common (quar.)
1% Sept. 30 Sept. 22 to Sept.30
American Shipbuilding, common (guar.) hi Sept. 1 Aug. 18 to
Amer.Smelters Securities, pref. A.(guar.) 1% Sept
1 Aug. 24 to Sept. 1
Preferred B, (quar.) (No. 17)
I% Sept. 1 Aug. 24 to Sept. 1
1
American Stogie, preferred
Sept. 1 Holders of roe. Aug. 14
1% Oct.
2 Holders of rec. Sept. la
Amer. Sugar Ref., corn. & pref. (guar.). _
2% Sept. 1 Holders or rec Aug. 14
American Tobacco, common (quar.)_
7% Sept. 1 Holders of rec. Aug. 14
Common (extra)
1
1 Holders of rec. Sept. 15
Oct.
American Writing Paper, preferred
1% Aug. 31 Aug. 27 to Aug. 31
Associated Merchants, common (guar.).
% Aug. 31 Aug. 27 to Aug. 31
Common (extra)
Borden's Condensed Milk, pref. (quar.)- - 14 Sept. 15 Sept. 6 to Sept. 15
1 Holders of roe. Sept. 15
Oct.
Butte Elec. & Pow., com.(quar.)(NO.20) 1
1 Nov. 1 Holders of rec. Oct. 15
11,
Preferred (quar.)(No. :33)
% Sept. 1 Holders of rec. Aug. 14
Butterick Company (quar.)
1
Sept. 15 Holders of rec. Aug. 18
Consolidated Gas, N. Y.(guar.)
Sept. 15 Holders of roe. Aug. 31
2
Diamond Match (guar.)
2% Oct.
1 Holders of rec. Aug. 31
Eastman Kodak, common (guar.)
5
Sept. 1 Holders of rec. July 31
Common (extra)
1 Holders of roe. Aug. 31
1% Oct.
Preferred (guar.)
1% Sept. 15 folders of rec. Aug. 27
Federal Mining de Smelting, pref. (quar.)_
Aug. 31
1 Sept. 1 Aug. 21 to
11,
General Asphalt, pref. (guar.)(NO.
-Sept. 1 Holders of me. Aug. 21
1
General Chemical, common (guar.)
2
Oct.
General Electric (guar.)
Internat. Harvester, pref. (qu.)(No. 10) 1% Sept. 1 Holders of rec. Aug. 10
1
Sept. 1 Aug. 11 to Sept. 1
International Nickel, common (No. I)
Internat. Smelt. & Ref.(guar.)(No. 1).. I% Sept. 1 Aug. 24 to Sept. 1
Lord & Taylor, preferred
3
Sept. 1 Aug. 25 to Sept. 1
Kings County El. Lt. & P.(qu.)(No.:38) 2
Sept. 1 Holders of roe. Aug. 20
Michigan State Telephone, corn, (guar.) 134 Sept. 1 Aug. 19 to Sept. 1
Preferred (guar.)
11.4 Nov. 1 Oct. 19 to Nov. 1
Mobile Electric Company, pref. (guar.). _
Aug. 16 Aug. 10 to Aug. 14
National Biscuit, pref. (guar.)(No. 46)_
11je Aug. 31 Holders of rec, Aug.17a
Nat. Enamel & Stamping, pref. (guar.).
Sept 30 Sept. 11 to Sept. 30
1 Sept. 11 to Sept. 14
National Lead, common (guar.)(No. 23)_
Oct.
Aug. 24
Preferred (guar.) (No. 71)
Sept. 15 Aug. 21 to
Niles-Bement-Pond, common (guar.)._
1% Sept. 20 Sept. 12 to Sept. 20
Aug. 25 Holders of rec. July 31
Peoples Gas Light It Coke (guar.)
Philadelphia Electric (guar.)
134 Sept. 15 Holders of roe. Aug. 20
Pressed Steel Car, pref. (guar.) (No. 42)
Aug. 25 Aug. 5 to Aug. 24
134 Oct. 15 Holders of rec. Oct. 4
Quaker Oats, common (guar.)
Common (extra)
Oct. 15 Holders of rec. Oct. 4
134 Aug. 31 Holders of rec. Aug. 18
Preferred (guar.)
Aug. 25
$1
Quincy Mining (guar.)
Sept. 20 Aug. 22 to
(quar.)
1 Holders of roe. Sept. 23
1% Oct.
Republic Iron & Steel, pre,.
1 Holders of rec. July 31
Preferred
5.1b Oct.
Sloss-Sheffield Steel & Iron, corn. (guar.) 1X Sept. 1 Holders of rec. Aug.20a
Sept. 15 Holders of rec. Aug. 20
$6
Standard Oil (quar.)
14 Sept. 1 Holders of me. Aug. 25
United Cigar Mfrs., pref. (guar.)
Sept. 1 Aug. 26 to Sept. 1
UnUed Dry Goods, preferred (guar.)
U. S. Cast Iron l'ipe Fdy., pref. (guar.) 1% Sept. 1 Holders of roe. Aug.21a
3
Sept. 1
U. S. Envelope, preferred
% Sept. 30 Sept. 10 to Sept. 30
U. B. Steel Corp., corn, (guar.) (No. 23)
1% Aug. 30 Aug 6 to Aug. 30
Preferred (guar.) (No. 3:3)
$2
Sept. 1 Holders of roe. Aug. 18
Weisbach Company
+ Increase over last week. — Decrease from last week.
Note.—"Surplus" includes all undivided profits. "Reserve on deposits" in
eludes, for both trsut companies ann State banks, not only c sh items, but amounts
due from reserve agents. Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying accordion
to location as shown below. The percentage of reserve required is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days. and also exclusive of time deposits not payable within 30 days, represented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State banks are likewis erequIred to keep a reserve varying
according to location, but in this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
—State Banks—
—Trust Cos.—
Reserve Required for Trust Companies
01
Total
Of
Total
and State Banks.
which
which Reserve
Reserve
Cash.
in
Required. in Cah.Required.
Location—
15%
25%
15%
15%
Manhattan Borough
20%
10%
10%
Brooklyn Borough(without branches in Manhat.).15%
in
branches
(without
15%
Manhattan)
10%
Other Boroughs
.16%
25%
15%
15%
15%
Any Borough with branches in Manhattan
6%.
15%
5%
10%
Elsewhere in State
Pia Transfer books not closed. b Declared 63(%, being accumulated dividends in
full, payable 3% Oct. 1 1909 and 1% each Oct. 1 from 1910 to 1915, inclusive.
41 Declared 4%, payable 1% each Sept. 1 and Dec. 1 1909 and Mch. 1 and June 1
1910. e Declared 7%, payable in quarterly installments. h Correction.
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
Ni
Totals
Actual figures
6
.0
'
3
9 26
7,8
18
17
5,7
30
5,824,0 28.3
127,350,0 174,754,0 1360,731,9 301,116,8 78.378,4 1424,659,9 26.6
1356,567,2 298,693,6 78,329.3 1417,229,2 26 6
Aug. 14_
On the basis of averages, circulation amounted to $49,901,100 and United States
deposits (included in deposits) to $1,618,900; actual figures Aug. 14, circulation,
$50,162,100; United States deposits, 51,621,200.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
STATE BANKS AND TRUST COMPANIES.
Week ended Aug. 14.
Trust Co..
State Banks
Trust Cos.
State Banks
outside of
outside of
in
in
Greater N. Y. Greater N. Y. Greater N. F. Greater N. Y.
Capital as of April 28_ _ _ _
$
25,975,000
$
59,675,000
37,306,000
$
8,598,000
$
7,725,000
173,921,500
10,316,230
9,786,676
Loans and investments__
Change from last week_
304,578,100 1,115,661,800
—473,000 +4,161,100
84,877,200
+785,600
130,577,800
+628,700
Specie
Change from last week_
49,646,100
—1,702,900
124,661,900
+606,000
Legal-tenders & bk. notes
Change from last week_
25,549,200
—107,000
13,991,300
+159,700
Suplus as of April 2 8....
Deposits
Change from last week_
355,144,000 1,292,085,900
—2,810,700 —6,800,000
90,872,600
+678,000
141,395,600
+197,900
Reserve on deposits
Change from last week_
97,704,300
—2,336,600
147,198,500
+246,900
19,861,000
+231,700
21,537,500
—318,100
P.C. reserve to deposits
Percentage last week_.
28.0%
28.4%
16.9%
17.0%
22.6%
22.4%
15.8%
16.1%
[VoL.Lxxxix.
THE CHRONICLE
452
House.-These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements, thus affording an aggre
gate for the whole of the banks and trust companies in the
Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear.-House State Banks & Total of all
Banks.
Banks.
Trust Cm. not Banks& Trust
ActualFigures
Average. in C.-H. Aver. Cos. Average.
Week ended Aug. 14
Capital (Nat. Banks 1
June 23. } 127,350,000 127,350,000
69,700,000 197,050,000
Surplus 'State Banks I
1 April 28__ J 174,754,000 174,754,000
182,845,100 357,599,100
Loans and investments 1,356,567,200 1,360,731,900 1,206,903,600 2,567,635,500
Change from last week -5,171,700
-795,900
+4,515,200
+3,719,300
Deposits
1,417,229,200 1,424,659,900 a1,193,270,900 2,617,930,800
Change from last week -11,109,000 -5,591,300
+7,336,900
+1,745,600
Specie
298,693,600
Change from last week -3,461,700
130,999,300
+758,800
301,116,800
-2,988,200
We omit two ciphers (00) in all these figures
Banks.
Boston.
July 24__
July 31....
Aug. 7_ _
Aug. 14_ _
Mina.
July 24.._
July 31__
Aug. 7-Aug. 14_ _
Capital
and
Surplus.
Loans.
40,300,0
40,300,0
40,300,0
40,300,0
212,416,0
214,675,0
217,249,0
216,846,0
56,315,0
56,315.0
56,315,0
56,315,0
271,989,0
273,791,0
273,789,0
275,418,0
78,378,400
--1,025,000
622,710,800
+207,200
101,089,200
--817,800
Aggr'te money holdings
Change from last week
Money on deposit with
other bks. & trust cos.
Change from last week
377,022,900
-4,858,400
379,495,200
-4 013,200
c153,710,100
+966,000
533,205,300
-3,047,200
28,216,700
-354,100
28,216,700
-354,100
181,926,800
+611,900
561,422,000
-3,401,300
Total reserve
377,022,900
Change from last week -4,858,400
Percentage to deposits
26.63%
requiring reserve _ _
Percentage last week
26.75%
Surplus reserve
379,495,200
-4,013,200
26.66%
26.83%
22,715,600
25,660,0
25,097,0
23,652,0
23,599,0
4,644,0
4,792,0
4,864,0
4,736,0
81,290,0
79,245,0
79,801,0
78,856,0
Clearings.
7,548,0
7,542,0
7,566,0
7,555,0
144,948,1
137,035,0
171,902,3
149,210,0
327,705,0 16,285,0
324,116,0 16,522,0
324,774,0 16,471,0
326,196,0 16,490,0
120,501,1
110,329,2
133,780,7
121,515,6
269,471,0
265,913,0
272,092,0
269,971,0
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Aug. 14; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK,
For Week.
78,329,300
--1,396,700
Legals. Deposits. a Circulation.
a Including Government deposits and the item "due to other banks." At Boston
Government deposits amounted to $2,009,000 on Aug. 14, against $2,018,000 on
Aug. 7.
432,116,100
-2,229,400
Legal-tenders
Change from last week
Specie
Dry Goods
General Merchandise
Total
Since January 1.
Dry Goods
General Merchandise
Total 32 Weeks
1909.
1908.
1907.
1906.
$3,261,1901
14,195,4081
$2,619,201
8,079,113
83,847,668
13,540,598
83,583,983
12,652,630
817,456,598 $10,698,314 817,388,256 $16,236,613
$106,111;486• $72,763,790 8117,670,00 $199,092,280
425,481,898i 303,329,435 439,937,886 368,595,609
$531,593,384 $376,093,225 8557,607,887 $407,687,898
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Aug. 14 and from Jan. 1 to date:
18.5%
18.6%
23,330,225
+ Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City;" with this item included,
deposits amounted to $1,406,486,800, a decrease of $6,323,200 from last week.
In the case of the Clearing-House banks, the deposits are "net" both for the average
and the actual figures. b Includes bank notes. c Of this amount State banks held
$15.056,900 and trust companies $138,653,200.
EXPORTS FROM NEW YORK FOR THE WEEK,
1908.
1909.
For the Week
Previously reported
1907.
1906.
811,136,087 812,425,388 $12,479,789 811,836,437
372,312,855 388,327,862 380,291,841 357,728,595
Total 32 weeks
$383,448,942 $400,753,250 $392,771,630 $369,555,032
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
The following table shows the exports and imports of
in Greater New York outside of the Clearing House compare specie at the Port of New York for the week ending Aug. 14
as follows for a series of weeks past:
and since Jan. 1 1909, and for the corresponding periods in
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
1908 and 1907:
GREATER NEW YORK.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
We omit two ciphers (00) in all these figures.
Week
Ended.
June
June
July
July
July
July
July
Aug.
19_.
H._
3._
10__
17_ 24__
31....
7
Loans and
Investments. Deposits.
2,518,640,1
2,492,260,6
2,517,226,9
2,528,727,9
2,523,184,8
2,535,951.3
2,551,022,4
2,563,916,2
2,581,805,8
2,538,999,1
2,569,534,6
2,585,868,5
2,581,866,5
2,594,113,3
2,604,154,9
2.616,185,2
Specie.
429,725,7
436,103,6
438,660,7
439,321,7
437,970,9
437,311,3
437,042,8
434,345,5
101,786,9
102,260,0
101,881,9
101,716,9
104,503,7
104,681,2
104,004,6
101,907,0
531,512,6
538,363,6
540,542,6
541,038,6
542,474,6
541,992,5
541,947,4
536,252,5
560,952,3
567,737,3
570,475,4
572,772,6
572,739,3
570,710,3
569,955,0
564,823,3
Reports of Non-Member Banks.-The following is the
statement of condition of the non-member banks for the
week ending Aug. 14, based on average daily results.
We omit two ciphers (00) in all these figures.
Banks.
Capital.
Surplus.
Loans,
Disc'ts
and
Investments.
N. Y. City.
Boroughs of
Man.& Brx.
228,2 1,288,0
Wash. Hgts 100,0
149,6 1,601,4
Century __ _ 200,0
249,4 4,577,7
Colonial
_ 400,0
439,7 5,975,0
Columbia _ _ 300,0
928,0
182,7
Fidelity --- 200,0
Jefferson_ _ _ 500,0
684,2 3,382,8
284,2 2,605,4
Mt. Morris_ 250,0
Mutual __ _ _ 200,0
318,7 3,906,2
402,2 3,958,0
Plaza
100,0
23d Ward_ _ 200,0
93,8 1,777,5
Un.Ex.Nat. 1,000,0
960,4 8,161,8
Yorkville _ _
100,0
439,9 3,989,5
New Neth'd 200,0
241,5 1,946,0
Batt.Pk.Nat 200,0
142,0 1,200,3
314,2 1,971,7
Aetna Nat.. 300,0
Borough of
Brooklyn.
524,3 3,065,0
Broadway _ 200,0
787,0 6,071,7
Mfrs.' Nat_ 252,0
933,9 11,215,8
Mechanics'_ 1,000,0
954,5 6,468,0
Nassau Nat. 750,0
598,5 4,076,0
Nat. City.._ 300,0
141,8 1,640,8
North Side_ 200,0
Jersey City.
First Nat_ _ 400,0 1,230,6 4,579,9
720,5 2,993,9
Hud.Co.Nat 250,0
Third Nat_ _ 200,0
372,9 1,668,3
Hoboken.
626,1 2,514,9
First Nat_ _ 220,0
244,3 2,327,0
Second Nat, 125,0
Legal
Tender
Specie. and
Bank
Notes.
Deposit withClearing,
Agent.
Other
Net
Banks, Deposits.
&c.
228,0
85,6
583,8
369,0
115,2
108,9
343,6
408,2
819,0
198,0
151,5
357,7
233,0
74,6
120,1
8
1,311,0
88,4 1,932,8
672,3 6,305,5
6,783,0
956,7
132,1 3,250,4
70,4 3,343,5
5,2 4,527,7
5,002,0
2,017,7
8,258,1
251,4 6,288,9
25,0 2,064,0
1,110,2
22,8 1,844,2
328,8
24,6 478,0
886,0
711,1 113,4
271,3 1,476,3 1,175,6
888,0
266,0 569,0
741,0
124,0 612,0
428,2
72,8
136,8
440,0 4,000,1
195,0 6,876,5
274,2 14,270,2
6,340,0
160,0 5,371,0
230,9 2,255,3
381,5 2,102,5
201,6
32,0
632,6
151,1
416,0 6,188,2
379,9 2,912,5
57,1 2,301,6
147,7
83,2
58,3 2,004,4
318,6 2,764,4
61,0
134,0
36,2 214,9
634,9 404,2
517,0 489,0
89,1
70,6
7,9 451,5
36,2
477,7
31,8 642,7
326,0 406,0
152,3
47,7
811,4 1,275,0
48,5 784,6
63,0
196,0
86,2
131,4
30,7
429,2
321,5
160,1
56,9
100,4
75,0
9,5
80,4
Tot. Aug.14 8,147,0 12,266,0 93,890,6 6,271,1 9,040,2 11,811,4 3,797,0 109279,9
Tot. Aug. 7 8,147,0 12,266,0 93,803,8 6,383,0 9,020,1 11,878,7 3,595,2 109524.9
Tot. July 31 9,147,0 12,569,9 99,583,7 7,437,6 9,660,4 15,138.7 3,981,4 118487,4
Boston and Philadelphia Banks.-Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Wee/c.
Great Britain
France _
Germany
West Indies
Mexico
South America
All other countries
Total 1909
Total 1908
Total 1907
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Since Jan.1
Week.
$13,958,120
13,881,232
$3,985
$580 2,031,105
5,000
19,000 40,964,440
4,030,195
175
5,702
121,625
37,971
$19,580 $74,870,182
47,133,400
56,000 32,109,683
$325,883 $25,891,077
229,500 2,915,050
9,047
922
105,297
2,146
28,029
$556,305 $28,951,246
886,745 26,082,756
1,344,497 29,167,139
Total 1909
Total 1908
Total 1907
Imports,
Exports.
Gold.
Tot. Money Entire Rm.
Holdings. on Deposits
Legals.
Since Jan.I
$198,108
2,137,876
8,228
482,957
363,971
1,620,385
1,477,178
$169,458 $6,297,703
151,873 12,330,268
74,510 0,889,141
$7,318
327
3,615
28,757
19,359
56,184
$206,793 •
6,317
45,987
88,532
1,498,489
699,938
708,555
$115,560 $3,254,611
51,565 2,291,024
35,781 1,443,175
Of the above imports for the week in 1909, $1,855
were American gold coin and $3,652 American silver coin.
Of the exports during the same time, $19,580 were American
gold coin and $____ were American silver coin.
ciPaniting and financial.
We shall be pleased to furnish to institutions and investors copies
of our special circular describing
43 RAILROAD BONDS
Listed upon the New York Stock Exchange
Spencer Trask ESL Co,
.
NEW YORK
WILLIAM AND PINE STS..
Branch offices: Chicago, Ill.. and Albany, N. Y.
MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
.
THE ROOKERY
5 NASSAU STREET.
CHICAGO
NEW YORK
Banking and Exchange of every
description in connection with
IMPORTS AND EXPORTS
International Banking Corporation
NO. 60 WALL STREET. NEW YORK
Special facilities for Traveler!
Capital & Surplus, $6.500,000
In all parts of the World.
Branches at Home and Abroad.
AUG. 21 1909.1
THE CHRONICLE
Itianhtrs' 05azztte.
Wall Street, Friday Night, Aug. 20 1909.
The Money Market and Financial Situation.-The tendency
of security values has been towards a lower level this week
and in several cases the decline has been quite unusual. To
those who comprehend the extent of the recent advance this
reaction causes no surprise. The general financial, commercial and agricultural situation now existing undoubtedly
warrants a reasonably higher range of prices than when the
crops were an uncertain factor, when a relatively large portion of railway equipment throughout the country was idle,
when many mills and factories were either shut down
entirely or were running on reduced time, and when tariff
revision was impending or incomplete. But the decline of
values this week shows that the upward movement had been
too fast, or had gone too far, or both, and the market is
undoubtedly in a more healthy or normal condition to-day
than it was a week ago.
News from the harvest fields of the Northwest has caused
a further decline in the price of wheat and the crop outlook
in other sections continues favorable. Orders for steel rails
and railway rolling stock are increasing and latest reports
of railway earnings show a steady enlargement of traffic.
The weekly reports issued by the Bank of England and the
Bank of France indicate larger reserves in both institutions,
while the local money market is unchanged in general features.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2 to 23/2%. To-day's rates on call were 2@23/2%.
Commercial paper quoted at 4@432% for 60 to 90-day endorsements, 43/2@5% for prime and 4 to 6 months' single
names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £802,388 and the percentage
of reserve to liabilities was 52.54, against 51.91 last week.
The rate of discount remains unchanged at 23/2%, as fixed
April 1. The Bank of France shows an increase of 2,825,000
francs gold and 1,075,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
Averages for
week ending
Aug. 14.
Differences
from
previous week.
1908.
Averages for
week ending
Aug. 15.
1907.
Averages for
week ending
Aug. 17.
_
8
$
$
$
Capital
126,350,000
126,350,000 129,400,000
Surplus
174,450,100
161,127,100 161,407,400
Loans and discounts
1,360,731,900 Dec.
795,900 1,290,013,600 1,096,222,100
Circulation
49,901,100 Inc.
134,000
55,696,600
50,201,800
Net deposits
1,424,659,900 Dec. 5,591,300 1,385,928,300 1,059,457,300
U. S. dep. (Incl. above)
1,618,900 Inc.
5,900
9,223,600
27,797,300
Specie
301,116,800 Dec. 2,988,200 324,635,900 203,988,300
Legal tenders
78,378,400 Dec. 1,025,000
70,170,100
79,464,800
Reserve held
25% of deposits
Surplus reserve
Surplus, excl. U. S. dep
379,495,200 Dec. 4,013,200
356,164,975 Dec. 1,397,825
404,100,700
346,482,075
274,158,400
264,864,325
23,330,225 Dec. 2,615,375
57,618,625
9,294,075
23,734,950 Dec. 2,613,900
59,924,525
16,243,400
Note.-The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.-The market was moderately active
with a firm undertone this week, and otherwise without
special feature. Gold exports, $1,250,000 to Argentina, on
London account.
To-day's (Friday's) nominal rates for sterling exchange
were 4 86 for sixty-day and 4 873' for sight. To-day's
(Friday's) actual. rates for sterling exchange were 4 8510(4)
4 8520 for long, 4 8660@4 8670 for short and 4 8685@4 8690
for cables. Commercial on banks 4 8485@4 85 and documents for payment 4 843/(4)4 85. Cotton for payment
4 84%@4 8434, cotton for acceptance 4 8485@4 85 and
grain for payment 4 84%@4 85.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 18%@5 183'a for long and 5 16%d@5 16%a for
short. Germany bankers' marks were 94 15-16@95 for long
and 95Mel@95M for short, and Amsterdam bankers' guilders
were 40 20@40 22 for short.
Exchange at Paris on London 25f. 173'c.; week's range
25f. 183c. high and 25f. 173c. low.
The week's range for exchange rates follows:
Long
Sterling, ActualHigh
4 8510
Q4 8520
Low
4 85
Q4 8510
Paris Bankers' Francshigh
05 1830
5 183%
Low
5 18%
05 18%
Germany Bankers' MarksHigh
94 15-16 e 95
3
Low
94%
943%
Amsterdam Bankers' GuildersHigh
Low
Short
14 8660
14 8645
--Cables--
04 8670
04 8050
14 8685
14 8675
05 16%a
Q5 16%
1
1
1
953%d
e 954
95 3-16a Q 9534
I
40 21
40 20
Q4 8690
Q4 8685
I
@ 40 23
40 22
@
Less: c 1-16 of 1%. d 1-32 of 1%. 1/ 3-32 of 1%.
Plus: k 1-16 of 1%. x 1-32 of 1%. y 3-32 at 1%
The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: Savannah
buying 50c. per $1,000 discount; selling 75c. per. $1,000
premium. Charleston selling $1 per $1,000 premium. New
Orleans bank 75c. per $1,000 discount; commercial $1 per
$1,000 discount. Chicago 25c. per $1,000 discount. St.
Louis 20c. per $1,000 discount. San Francisco 50c. per
$1,000 premium.
453
State and Railroad Bonds.-No sales7of State bonds have
been reported at the Board this week.
Prices have declined in the bond market as well as in other
departments of the Stock Exchange, although generally the
shrinkage has been limited in extent. A few issues have been
decidedly active, otherwise the market would have been
exceptionally dull. Union Pacific and Northern Pacific
have far exceeded all others in the matter of activity.
United States Bonds.-Sales of Government bonds at the
Board include $11,000 3s coup.,1908-18, at 101%, $1,000 38
reg., 1908-18, at 102 and $24,000 4s reg., 1925, at 116 8 to
1163
4. The following are the daily closing quotations; for
yearly range see third page following.
Interest
Periods
Aug.
14
2s, 1930
registered Q-Jan
2s, 1930
coupon Q-Jan
38, 1908-18
registered Q-Feb
3s, 1908-18
coupon Q-Feb
3s, 1908-18___ _small coupon Q-Feb
4s, 1925
registered Q-Feb
4s, 1925
coupon Q-Feb
2s, 1936_Panama Canal regis Q-Feb
28, 1938_Panama Canal regis Q-Nov
*1003
*1003%
*101
*101
100% *100% *1003
% *100%
*100% *100% *1003
% *1003% *1003%
*101
101 *101 *101
102
*101 *101 *101 *101
10134
*116
*118
*1003%
*10034
1113% 1163% 1163% *116 i*116
*118 *118 *118 *118 I*118
*100% *100% *1003% *1003%;*1003%
*10034 *100% *1003% *10034 *10034
Aug.
16
Aug.
17
Aug.
18
Aug. 1Aug.
19
20
4 *1005%
1
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-The stock market
has been decidedly more active this week, the transactions
averaging over 1,100,000 shares per day, and almost every
stock traded in has declined. Monday's early prices were
generally the highest of the week and the downward movement which then set in has continued day by day under the
lead of Union Pacific and the stocks of affiliated lines, all of
which have declined from 3 to 8 points.
St. Paul preferred has been the erratic feature of the
market. It advanced 8 points above last week's record price,
nearly all of which it has retained, and is the only active
railway issue which closes with a net gain. Union Pacific
continued the upward movement mentioned last week until it
reached 219, since which it has steadily declined, and Union
Pacific preferred has lost practically all of its recent 10-point
advance. Reading has covered a range of over 10 points,
closing near the lowest, and New York Central was over 8
points lower than its recent selling price, but recovered 13/9.
Central Leather has been strong, presumably as a result of
the new tariff schedules, while other stocks in the industrial
group have followed the railway list downward.
For daily volume of business see page 461.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Aug. 20.
American District Teleg _
Buffalo Roch & Pittsb_ _
Chic Gt West trust recta
do do 1st east paid
Fret "A"trust recta_
Pert "B" trust reef s.
Chic Term Trans, pref. _
Colorado Fuel & Iron, pf
Comstock Tunnel
General Chemical
Keokuk & Des Moines_ _
M St P & S S M-leased
line certificates
Subscriptions, 3d paid
New York Dock, pref__ _
North Ohio Trac & Light
United Cigar Mfrs, pref_
U S Leather, preferred.. _
Vulcan Detinning
Preferred
Sales
for
Week.
Range for Week.
Lowest.
Range since Jan. 1.
Highest.
Lowest.
Highest.
67 20
8 90
3,600 2%
100 8
675 27
2,900 7%
100 183%
100 100
3,200 26c.
400 0
50 10
Aug 16 20%
Aug 16 90
Aug 17 3%
Aug 20 8
Aug 16 32%
Aug 16 8%
Aug 20 18%
Aug 17 100
Aug 14 26c.
Aug 20 0
Aug 18 10
Aug 16
Aug 16
Aug 16
Aug 20
Aug 18
Aug 17
Aug 20
Aug 17
Aug 1
Aug 20
Aug 18
20
91)
2%
8
27
734
17%
67
21c.
61
5
Aug 20%
Jan 99%
Aug 4
Aug
Aug 32%
Au
Jan 20
Itch 100%
Ap 30c.
Jan 90
Mch 10
Aug
July
Aug
Aug
Aug
Aug
Jan
Aug
Jan
Aug
Aug
4,300 893%
27011403%
100 823%
100 30
400108
4201193%
500 14
200 653%
Aug 14 913%
Aug 16140%
Aug 20 823%
Aug 18 30
Aug 16109
Aug 16120
Aug 19 15
Aug 18 663%
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
89
30
75
233%
99
15
6
45
Jul 91%
May140%
Jani 82%
Apr30
Jan,110
1101428
Febl 20
Jan 73%
Aug
Aug
Aug
Aug
May
Mch
June
June
19
17
20
18,
16
171
18
181
Outside Market.-Chief interest in the outside market
this week was in mining issues, though business was of small
proportions and with prices for the most part rather weak.
Boston Consolidated sold off from 163
4 to 1534 and up to
15%, the close to-day being at 159/
8. British Columbia,
after early improvement from 79 to 73
4, dropped to 6%.
Butte Coalition fell from 263,i to 2534. Cumberland-Ely
lost half a point to 7 and recovered to 73. Davis-Daly
weakened from 73 to 6 7-16. First National rose a point
to 7, but declined to 69'. Greene-Cananea declined from
1034 to 9%. Miami improved from 163
4 to 16% and roceded to 16. Nevada Consolidated ran down from 25 to
233/
9. Ohio Copper eased off from 5 3-16 to 4%. In the
downward movement United Copper common from 11
touched 103, closing to-day at 1014. Goldfield Consolidated sold up from 6 15-16 to 7 and down to 6 11-16, the
close to-day bbing at 6 13-16. Kerr Lake was an active
feature and was traded in up from 8 3-16 to 93/9 and at 934
finally. Industrials were fairly active. American Tobacco
lost 10 points to 440, recovered the loss, but dropped back
again to 435. American Writing Paper preferred ruled
strong, advancing a point to 26. A dividend of 1% on the
preferred stock was declared this week. The stock reacted
finally to 253/
2. Southern Iron & Steel common, "w. i.,"
moved down from 203 to 193/9 and to-day to 183-i. The
3 and recovered to 543
preferred sank from 55% to 54%
4.
Standard Oil declined from 7063/9 to 705, then ran up to 712
and sold to-day at 7053/
9, ex-dividend. United Cigar common advanced from 753/i to 783/9, but reacted to 75. Chicago Great Western common,"w. i.," rose from 24 to 2534
and receded to 25. Chicago Subway went up from 203/9 to
21 and down to 193/9.
'Outside quotations will be found on page 461.
Daily, Weekly and Yearly
New York Stock Exchange-Stock Record,
P WES
OCCUPYING TaVo
•••••
STOCKS-HIGHEST AND LOWEST
Saturday
Au,. 14
Tuesday
Aug. 17
Monday
Aug.16
ALE PRICE'S.
Wednealay I Thursday
Aug 19
Auis. 18
friclay
Aug 20
Sates 01
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Rang,: since Jan. 1 1909
On basis o 100-hare tots
Lowest
Highest
Range tor r7etit0143
Year (1908).
Lowest
Highest
Railroads
6', Feb 10114 Dec
Align
229,500 A tch Topeka & SantaFe 9778 Jan 13 12118 J'ne
11878 11958 11834 11958 11878 12038 119 1205; 11814 11938 11614 1181,
8338 Feb 104 Dec
)0014 Ian 10 10634
pref
ri.
Do
1,400
4'
.
1043
8
8
1045
1043
10458
10438
10458
105
-10453
105
10478
*10453 10473
14312 Aug 12
5912 Met 11112 Dec
Jai
14
10712
RR..
Line
Coast
4,100
138
13634
Atlantic
138
13712
141
13812
1391
2
*141 14212 1401. 14012 138
117, Dec
7612 Feb
10312 Feb 33 12214 J'ly 2:4
117 11778 11634 11712 27,670 Daltimore & Ohio
11858 1191s 1181-4i 11914 11758 11834 118 119
9.; Dec
92 Feb : 96 Apr 12 •80 Jan
1) Do pret
17
*93
94
94
*93
94
*93
95
*93
9312
§9312
94
6934 Dec
*93
3714 Feb
8278 J'ne
9
Jan
67
Transit.
Rapid
Brooklyn
33,270
8
8012
787
8018
3
79
807,
787
18018 ,
1,ov
8018 8034 7834 8012 7834 79.34
Feb
140
3
Mch
2
Aug
18914
4165
Pacific
18314 185
10,745 flanadian
18512 18618 18534 18614 18533 18534 18512 18618 18358 185
65 Nov
54 Met
6914 Jan 11 6878 Aug
Vianada Southern
6934 *6912 6934 *6912 6934
• *6812 6939 *69
6934 *69
6934 *69
Aug 5 1611 Feb 129 Dec
315
23
Feb
215
Jersey...
New
of
315
115
*300
Central
312
5312
315
313 313 3305 315 *311)
599, Dec
*310 315
251. Feb
8378 Aug 12
Jan
74,750 Chesapeake & Ohio
8238 8314 8112 8258 8134 8312 8014 8153 7878 81
83
6873 Dec
82
- Feb
6 743, pr 1
700 Chicago & Alton RR__.. 5547-4 Feb 94
6812 6673 6712 6612 6612 65
66
67
*66
67
69
79 Dec
*67
7812 %!eti97
-.Y7 Met
74
74
*---74
*7212 74 *_-_ 74 *---- 7312
1458 Nov
31s
Feb
Jan
2
ill,
21
v
b
"I
'
J
F
711,
prereat Western
ogo
lca
278 273 12,970 hp
273 318
3
312
314
3
t,814 Aug;
33s
3
3312 Met
314
3
1,q alayll
5514 J'ne 11
*58
64
Do 4% delamturer._
*55 ____ *60
64
*55
64
*61
151. Feb
/3 Dec
7----300
3:.)
37
J'nel9
23
"A"
pret
5%
3158
Do
*30
3153
32
32
*2712 40
45
3212
*25
45
1718 Nov
*25
5 Feb
4 J'nc2:. 141R oan
500
Do 4% pref "B"
814 858 *734 814
*781 812 *77s 834 *734 814
15110 Dec
23 16312 Aug 10 10312 Jan
15918 16034 15858 16034 15712 16012 15658 15812 155 1E75-3 124,650 Chicago MIlw dc St Paul_ 141 Feb
15734 160
1644 Dec
Jan
6
1.35
Aug
151
Met
15
15812
pre
Do
17614
17734
179
1771,
28,000
17812 18012 178 17914
177 181
,17214 177
18512 Dec
193 195
10,775 ClOcago & North Western 1/313 Feb 24 19812 44114:1, 13512.1 an 524 Dec
19912 19814 196 19812 195 196
196 19612 19514 198
r208 81'7h1 4230 Aug , +1+,5 Jan
Do pret
*227 229 *127 229 *22112 222 *121 130
*227 229
160 Dee
Feb
13
119
Aug
167
22
Apr
148
Omaha
&
Minn
P
165
*160
*160
St
200
Chic
165
165 165 *163 168
165 1-65
*163 168
174 Dec
16612 Jan 31/ 5180 J'ly 27 14012 Jan
Do pref
32
*175 185 §175 175 *175 185 *175 185 *175 185 *175 185
718 Dec
58 Apr
Jan 4
7
6
J'ly
4
stmpd
ctts
Trac
Un
200
Chic
612
612
*5
612
*5
*512 614
*512
614 614 *512 614
18 Dee
4 Apr
12 J'ly 12 1814 Jan 27
Do prof ctfs stmpd_
200
15
15
*13
1512 *1312 1512 *13
15
1413 1414 *14
*13
Dec
7012
J'ne
4712
16
Feb
7912
t.S Jan 29
7658 74
800 Cleve Cln Chic & St L
74
7634 *74
*74
77
*74
77
97, Dec
7473 7512 77
8518 Feb
100 Jan 4 )05 Nich22
Do pref
*105 -- *106 115 *106'115 *106 -___ *106 ____ *107 110
59 Dec
Feb
21
8
Jan
6814
20
Aug
54
Southern
&
55
54
5438 1,234 Colorado
5412 5514 5473 5478 5412 5412 5412 5412 *5412
79 Dec
5038 Jan
71)13 Jail 2 86 May 1
8112 8112 8138 82
Do 1st preferred
1,240
82
82
82
82
82
8212 82
*82
76 Dec
3034 Feb
7314 Jan 2 8412 Jan 7
Do 2d preferred
8014 8014 8014 8014 8014 8014 1,875
8014 8014 8014 8011 *8014 81
18133 Dec
Feb
14112
May14
200
24
Feb
16734
_
192 19338 19138 192
4,500
195 19618 19412 19612 19412 19514 193 195
Noy
175
Jan
2'2
420
Apr
t_ 535 Feb u 680
200
570 575 *560 600
*551 600 *570 600 *570 600 *570 600
9012 Dec
1414 Feb
375 Jan 6 54 Apr 1.0
4914 5013 4814 4834 47
4834 11,270 Denver ac Rio Grande
8314 Dec
4934 5034 4812 50
5018 51
Mel)
3914
10
Feb
90
791.
Jan
6
Do pret
8534 86
2,143
87
8633 87
8712 88
8814 8814 8712 8712 87
56 Nov
32)2 Apr
0 7134 Aug13
.1a
.1 n 36
323 Detroit United
56812 6812
7012 7012 *6934
71
71
72
572
- *7034 73
Nov
6 Feb
21 Jan In
514 00
11511
310 Duluth So Shore & Atian
1534 1534
1534 153.1 1534 1534 - - - -17
*16
3334 Nov
Feb
4
113
Jan
15
23
3812
98
Feb
Do pref
31 -if
100
*3112 3212
*3134 32
*3134 32
36 Nov
11 Met
elt,
1461c
2)
i 11.
2138
26
3
, 39 J'ne 7
5;1E83512
3613
3538
2
17136
3733
3612
3734
3612
513e Dec
3634 3712
1438 Mch
5634 Aug 9
1 00 ErieDo 1st pre
5512 5412 5512 5458 5514 5418 5458 5258 5418 68:7
41 Dec
5514 5538 52
19 Meh
46 Aug 2
2812 Meh 11
Do 2d pref
4314 4214 4212 2,400
43
44
4414 4314 4412 44
44
45
45
13858 Feb 24 15778 Aug 42 11384 Feb 14814 Dec
pre
15412
15012
Northern
15234
15612
Great
52.070
15412
15612
15434
15234
15673
15512
15678
15912
751s Nov
11
Jan
4812
8812Aug
8
Ore
Iron
651
8314
N1(1112
53,750
81
86
7812
8214
8138
8613 8634 8534 8634 8438 86
177 Dec
8 Jan
W.deb cttB 14 Feb 26 17 Jan 4
*1514 1534
Green Bay 83properties-*1514 1534 *1514 1534 ---- 40 Dec
20 Mch
39 Feb 1 65 Aug le
W- *63 65
i 1 avana Electric
Il
*6414 -68 ,T413*O. 65
65
*63
84 Dec
i2
J'ne
Jan
89
170
5
Feb
8318
pref
100
90
*8612
90
*8612
*8612 90
*8612 90
86
86
90
*84
10412Dec
14
Aug
126
Feb
62
JrPac M Corcts 97 May 3
Vall P
12134 12214 12112 12112 12112 12112 1,500 flock D
11:1 15412 12134 123
124 126
t3 Dec
0412 J'nell
69 Mch
88 4,pr 1i
200 Hocking Valley pref.__
9438 *92
94
_ *92
5434 94
9434
9458 *93
*93
131 Feb 2:' 16218 Aug 12 12212 Feb 14934 Nov
19,150 I ilinois Central
15914 156 15714 154 156
15712 16012 15912 16112 15773 1-60 15712
20 Dec
at.
5
634
Jan
J
1153 Mch23 19
1514 11,000 Lnterboro-Metropolitan_
1412 1414 1514 1412 1514 15
4912 Dec
1412 1434 1414 1412 14 4712
171s Feb
3634 Mch23 51:38 J'ne 28
Do pret
4612 4833 4638 4834 4714 4814 24,600
46
4634 48
3212 Dec
• 4638 48
Feb
15
10
Apr
36
24
Feb
27
Central
31
*30
2,100 Iowa
3138 *3012 31
3158 31
67 Dec
• 3138 3138 3112 3173 31
15
Feb
2712
Apr
62
5412 Jan 4
*5612 5712
Do pref
645
*5612 57
57
5734 5734 §57
7512 Dec
58
58
58
58
57 Aug
7912 May 13
1
22
b
67477384
400
781.
*7712
7812
*7712
7812
7814
7812
78
79
4238 Dec
7812 *78
*77
Feb
18
18
Aug
5014
23
Feb
37
cfprel
Ay
Southern...
Mtr
S
sa
CnFts
4914 4714 4918 63,050 Ka
721s Dec
. 47
4712 4714 4838 4712 4838 4818 5014 48
46 Feb
7512 Aug It
Feb
Do pref
.312 7331 74
7334 7434 7414 7512 7414 7434 7358 7412 14,300
75
'26 Dec
12 Jan
1912 Feb 25 291. Aug 2
100 1 ake Erie & Western
3
28
*25
28
*25
28
*26
26
26
27
27
*26
58 Dec
*26
May
14
:34
J'ne
6478
.
23
pret
48
an
63 *57
63
*58
1 A Do
63
*59
63
*59
63
62
*59
5638 Dec
*59
30 Feb
59 Jan 4 7118 May29
*67
70
70
Long Island
*67
70
*67
70
*67
70
70
*68
*68
8714 Feb 12534 Dec
z121 Jan 29 16212 Aug 12
19,800 Louisville & Nashville
157 15914 15834 16031 15612 15914 153 156
15434 Dec
15834 161
16014 161
Jan
120
4
Jan
15313
1u
Aug
14014
Elevated
143 14312 14112 14212 14014 14014 1,100 VI anhattan
4412 Dec
14334 14334 *14312 144
*143 145
15 Feb
18 J'ly 2 92 Jan 5
25
*22
500 1•Letropolitan Street
23
23
25
23 *20
*20
23
23
*20
*20
20 Mch
5612 Dec
52 Mch 6 65 Jan 8
5414 1,540 Minneapolis & St Louis
5312 54
5412 54
53
53
53
56
91/ Dec
Feb
5514 5538 *54
8
61
Jan
91)
Meh
10
81
pret
Do
87
100
88
87
*84
*83
88
88
*83
92
Nov
135
91
*84
*84
Jan
7914
Jan
13212 Jan 2 14912
14258 14314 3,250 Minn St P & S S Marie
14412 19412 144 144 *14312 14434 14338 14412 143 144
16412 Aug 9 12,312 Feb 55112 Dec
13
147
Apr
*158
164
165
*158
165
*160
Dec
431,
*160 165 *158 16512 *160 165
22
Mel,
Jafi
1712
4473
23
Feb
3512
Texas
refs &
Psa
Do an
17,700 MoK
4114 4138 4034 4118 4013 41
42
7512 Dec
4234 41
42
4214 42
46 Feb
b 24 7514 Jan 21
661 Feb
7
Do pref
600
57413 7418
74
74
75
7373 7378 *74
6712 Dec
74
74
74
74
2812 Feb
7712 Aug 5
Feb
7414 7512 7314 7414 73
7314 14,900 Missouri Pacific
Nov
122
12
1)734
Aug
7412 7512 7418 7518 7414 75
Jan
13012
5
139 *135 140
!Mash Chatt & St Louis_ 12212 Jan
J'ly 8
0135 140 *135 190 *135 140 *135 140 *135
5314 *5273 5314 *5234 5314 1,300 LI at Rys of Mex 1st pref 9412 Apr 5 55 May21
53
*5212 5312 521, 5234 5212 51
265s
16
23
Aug
2212
pref
2278
2d
2318
Do
37,670
23
1312
116 Dec
2333 2438 2212 1373 2273 2314 23
14018Jan
14134 Aug 18
14453 14734 13912 14412 13734 14114 281,930 N Y Central & Hudson_ 12012 Feu '14 59 311(3 7
5712 Dec
14212 14478 14518 14638 145 147
2412 Jan
9812 Men 15
5512 5512
*5512 57
300 N Y Chic & St Louis
*5512 57
*5512 5712 *5512 57
106 Nov
Feb 20
• *5512 57
Jan
90
100
20
Feb
100
prof
105
*100
1st
Do
*100
105
Aug17
85 Dec
*100 110 *100 110 *100 110 *100 105
60
88
Feb
*83
87
Do 2d pret
87
200
89
89
*87
88
88
89
*87
89
*87
6 17434 .1 .1,414 12838 Jan 161 Nov
r 24
157
76148 Feb
800 N Y N H & Hartford
17114 17112 17112 17112 171 171
171 171
4778 Dec
*171 172 *17012 172
2918
5558 J'ne 11
Feb
24
Feb
4918
4214
4784
&
4934
Ontario
4914
Western_
Y
N
11,700
4934 5034
5012 4918 50
96>8 Aug 7
8614 Nov
5038 5114 50
58 Feb
9438 92
94
9412 95
93'2 8,700 Norfolk & Western
9512 • 9412 9514 9438 95
88 Dec
95
92,2 J'ly 28
74 Met
enh20
a
6
j
N
3
f
5:
44
8
pref.._
Do
adjustment
200
9013
0018
94
*90
_
*003t
9114
9114
15734 Nov
116/8 Jan
4i 15912 Aug ,
meclah 1:
314 F
36
1:7
8 15273 15518 89,450 Northern Pacific
i8ii2
1-581-4 15612 15853 1167
'33)3 Jan
Thirs 15814 15712 15834 15634 104
103 Aug 11
65 Sep
*98 104
100 100
500 ()tactile Coast Co
*100 104
10014 103 *100
00 may
*101 102
90 May
10014 J'ne2,3
30
Mch
100
L
pref
Do
110
1st
*100
*99
110
110
*100
110
31
Mch
*100 102 *100 110 *100
97 Jan
Mob
79
100
27
Meh
88
2d
108
pret
Do
*100 108
200
100 100 *100 108 *100
Aug 1? 10834 Jan
13214 Dec
*100 110 *100 110
8
1437
14212 14338 14112 14278 14073 14278 14014 14112 13838 14078 105,860 Pennsylvania
8812 Dec
9478 Aug 3
142 143
69 Jan
5
13
b
Jan
2
613
86
12
L
Cin
St
Chic
53
93
911,
Pittsb
9112
*9112
650
92
92
93
§93
811ft Mch 10834 Nov
*9112 9212 *9112 93
194 Feb 10 116 Aug 3
Do prof
117 *110 117 10
9213 Feb 14314 Dec
*110 11712 1118 118 *110 11712 *110 11712 *110
lls Feb 23 166 Aug!
l p
1s
16318 16534 16112 16512 15612 16213 15513 15914 832,670 1,eadim
92 Dec
78 Jan
95 Aug 16
16314 16434 16334 166
Ale112*89
ret
,
t
IA
96
*95
1,200
96
*9412
96
*9412
*9414 96
U9 Dec
16 Jan
9414 9414 9414 95
10454 MaY 13
d pref
2
*99 102 *100 101
100 100
*99 102
2514 Dec
12
100 100
Aug
Feb
1012
9233
' 100 100
F b 241
2078 Feb
11°
0880 Rock Island Company
1,7
3833 3934 3738 3834 119
6258 Dec
2034 Feb
8038 Aug 16
4034 4153 4014 4131 3978 4118 3933 4118 78
21
Feb
5758
prat
Do
7873
7634
7778
35,737
8
797
79
7912 8038 7834 80
69 Dec
J'411:
J'ly
42
SO
79
73
Mch29
6614
100 Qt L & San Fr, lat pret_
72
*70
73
72
73
72
*70
*70
9214 Dec
72
*69
73
1914 Feb
*70
3 5712 Aug 12
p 25
b
1
Do 2d pref
0e
00
70
1:5
4
5614 5458 5512 5438 55
24 Dec
5512 55
5612 5514 5534 55
10 Met
1812 J'ne
56
6 Feb
1012
3
St Louts Southwestern
2612 2634
2718 2658 27
Dec
5578
2
2714 2678 2678 27
7111
J'ne
Feb
1412
*2714 273s 27
6
Jan
472
1
Do pref
66
6634 2,100
67
6614 Feb 12212 Dec
6712 6712 6712 6712 6678 6712 *6678 6733 67
11453 Feb 24 13918 Aug 1,
13038 13312 632,375 Southern Pacific Co
12512 May
10638Jan
13512 13758 137 13918 13558 13778 13473 13818 133 13513
24 137 J'ne
11z834 Feb 2
Do nret
2714 Dec
We Jan
6 34 Aug 11 2512
cfs stripd_
30 "Sf"..48 Southern v tr2E,,
3273 3138 32
met, 6312 Dec
3318 -3212 3353 3214 3234 32
611 Jail 5 75 Aug 12
do
Do pref
7012 5,200
7112 7134 70
7212 73
73
72
73
3714 Dec
72
1234 Feb
Feb t
2 73
- r4
:1734
i1
2
y
Fe
jlb
6
0
1
3
3618
Pacific
&
18,300 Texas
3634 3514 3658 3514 3658 35
97 Aug*
1512 Met
3512 3578 3512 3512 35
4211 Jan 18
__
4 2073 1018 2434 2314 2934 24,730 I. bird Avenue (N Y)
612 Oct
1513 Dec
1858 1858 1858 1914 1834 1913
7 may12 1538 Jan 2
Light
&
100
Railways
Toledo
1112
*912
*914
11
*934
1034
10
1118 10
60 Dec
*10
11
12 Feb
5434 Apr 10
*10
20
Feb
43
Western
&
L
St
_0
_
5034 3,900 Toledo
5112 5212 5214 5214 5134 5178 5
Feb
4
.33
7312
5233 63
Dec
Jan
7414
5234 53
4
2
2
94734 JFaenb
6
Do pret
5,100
7034 tul2 7
7114 7014 7114 70
9638 Dec
7112 7114 7134 71
7814 Feb
71
110,4 Aug 16
2,440 Twin City RapidTransit
10812 1093k 10812 10834 10734 108
Aug 16 11012 Mch 18478 Nov
10934 11014 109 110
10934 110
219
24
Feb
17212
Pacific
rnlon
211
I
20314 20678 1076715
11034 11538 21012 21614 206
7914 Apr
98 Nov
21334 21812 214 219
Mch,30 11812 Aug is
10914 11178 107 10914 97 0 ti Do pref
3912 J'ne 11
15 Jan
40 Dec
11514 11778 110 11812 11012 11312 110 11334
1
Feb 25
9
3912 *3712 38
3,100 Unit Rys Tny't of San Fr x304
59 Apr 29
Jan
2713
5912 Dec
3718 3712 3634 3712 3713 3718 3714 3912 39
25
Feb
6014
58
5734
Do pret
3,750
5712 59
58
56
57
*54
634 Mch
5614 5614 5634 57
2058 Dec
lb Feb 23 2438 J'ne lb
Wabash
8,047
2058
20
3
2018
207
2034
21
21
2058
22
2078
15
13
Met
1213
22
5234 Dec
23 6134 J'ne
Feb
41
54
Do
pre(
52
249;414701
55
64
56
5 Mch
5734 5612 5738 5414 5634 5438
24 Dee
57
2e38 may 7
v
Western
Maryland
514
,„
5
513
,,„
412 Mch
5
518 514
512
5
514 538
1178 Jan 4
518 512
13 Dec
3
10
y3
j:IY
13 J
t.12
300 Wheeling & Lake Eric
738
"'4
634 ,
*712 812 *712 812 *712 812 *712 812
1218 Apr
2578 Jan
2814 Dec
pref
1st
Do
450
18
18
18
17
19
19
21
*19
21
21
*18
8
*18
Jan
Feb
1518
1514 Nov
Do 2d pret
11
*8
11
'a
11
*9
11
*9
1312 Feb
6378 Apr 10
3814 Dec
*912 1012 *912 11
56
*55
400 WisconsIn Central
56
od
56
58
5634 5634 56
*56
*5634 58
? alf,
,1433
Y:
?
;
:11
482jjj,
5711,
6
651
3
:
,
ctf
Co
nret
Trust
Do
91
500
9018
*8912
9013
8978 90
90
*88
90
*88
1/0
*88
:re i&ANculls\?vne_s_
D:Laz
793
BANKS AND TRUST COAIPANI ES-3ROKERS'• QUOTATIONS
Ask
SW
Banks
Ask
Hitt
Banks
Ask
Ma
Ask
Bank':
OW
Banks
__
205
180._.. Nassau 11-300 350
Jefferson 1
__ Fifth
OhaseaEx $ 200
.210
200
New Neth'i
560
Llberty---_ 530
810 840
.. . First
Chemical __ 425
New Yoe:.
750....
YorkCo
.Vevy
155
115
410
435
...
__,
¶
Lincoln
St
_.. Citizens' CV 15712 1-6212 14th
180
Aetna
335
New York , 325
_ tfanhattan1 335 345
220
1387 1390 Fourth
686 010'
America 11_. 575
250
N'ht &Day1 210
263
Mark% &Ful 258
350
255 Coal & Iron 1371:- 14/1: Gallatin ....- ,34J
Amer Each_ 150
420
Ward
19th
260
132
_
__
__,
29)
Mechanics'_
-- Garfield
---- Colonial li-. 300
Battety Pk 130
_ _
b14
-u
tl
-.
Northern
195
___ Mercantile _ 180
11_ 375 4-2-5 Germ Am 1' 14U
rta
. Colubla
375 Bowery 1
2,i0
--- Pacific 11- 230
M erch Each 160
450
--- Germ'n
BronxBoro1 300-_ Commerce . tliii
460
470
Park
--_
---11 550
__ _ Merchants'. 161
„
2)10
260
165 Copper.
Bryant Pk I. 155
295
280
---- People's 11
Ntetropolls 1 375
289
S.11) Greenwich 11 263
150 Corn Elx-11.- 333
Hutch to Dr 140
185
175
Hanover
550 565
Metroporn1 18712 195 Phenix
135
East River . 125
Century 14- 170
175
615
610
11Plaza
_
260
_ __ Mt 51orrislf..
Imp & Trad 550
175
- Fidelity II_ 165
300
hase
31-0
Mutual IL _ 590
___ frying N Ex 19212
--- Fl ft h Avpil 4o00
305
'295
.hatham
Iiz'dlVlUcnd
Bid and asked_prIces: no sales were made on Ole day. I e x-rignts. 5 Less tnan 100 snares. 11 State onnItl. a
a Flrst installment paid. is Sold at private sale at, this price.
•Sale at Stock Exchange or at auction thls week
10
Banks
BM
Ask
Exr
_.Germania
Ask
18213
145
380
„.....
_.
_ 18-0
„,..
96
1.
--.
-.....
.
and rights. S New ston •
Eta
Banks
Prod Exch 1 17212
Reserve_
Seaboard __ 360
Second ___ 375
Sherman -.135
State 11____ 290
12th Ward_ _ _
23d Ward 11 100Union Exc. 18712
Nash H't)1, 270
Nest Side 11 500
Yorkville 1 '425
--135
AUG. 21
eiN ork Stu IteCora-Concluded----Page
1909
Sal's of
STOCKS-HIGHEST AND LOWEST SALE PRICES
Monday
Aug. 16
&V wrday
Astg.14
Tuesday
Awl. 17
iV editesday
Aug.18
Thursday
Aug. 19
Friday
Aug. 20
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
455
Minot sina Jan. 1 1909
01. Gast! 01 100-share lot;
Lowest
Highest
industrial&Miscellencous
__ *225
- *226
_- *225
10
3225 225
*225 1_ _ *225
dams Express
190 Jan 20 3225 Aug 20
1512 "f5hE *1512 1512 1518 1514 1,340 rx Ills-Chalmers
8 *1534 16
1514 704 1512 1571078 Aug 3
1234 Feb 24
5412 53
5118 5218 5258 2,400
532 5414 5134 5378 5312 5312 54
Do pref
38 Feb '24 5738 Aug 3
85
8712
142,300
8612
8612
8358
8458
8612
8278
85
8518
8678
8512
Amalgamated Copper
65 Feb 26 8928 Aug 12
4812 481; 4712 4858 4814 481: *4712 4818 4612 4634 4813 481$ 2,500 Am
Deor Apg
re
rlicultural Chem. 3312 Jan 5 50 Aug12
*100 110 *102 110 *102 110 *10312 110 *102 108 *102 108
9512 Jan 18 103 Aug 3
4414 45
4418 46
4434 4614 4412 45
18,000 A mDeorIep
4334 45
4512 46
arnetBeet Sugar_
2014 Jan 13 4912 Aug 2
9712 *95
961,
9612 *95
9612 *95
612 9612
100
4.95
961,, t95
82 Jan 1 9718 ouch
1358 1234 1338 123: 1314 1212 123"4 1214 1212 24.550 American Can
1253 1314 13
712 Feb 23 1418 May21
8418
8434
85
13,000
84
8414
84
8478
851::
84
8258
84
8414
Do pref
7112 Feb 2'3 86 J'ne 4
66
67
05 6618 6434 6638 23,900 American Car & Foundry 4414 Feb 24 7078 Aug 4
6634 6714 6612 6738 6534 67
*119 122 *119 12134 12012 12012 *11918 12012 119 119
400
119 11912
Do pret
10712 Feb 23 12434 Aug 3
733.4 74 74 7434 73 7314 7134 7314 8,300 AmpeorIca
7438 7312 75
74
prnerCotton 0t1_... 4218 Jan 5 7712 Aug 9
*10r12 107 *10212 107 *10212 105 *10212 107 *10212 105 *10212 105
98 Jan 7 10614 Mayll
*232 235
23212 23212 •.231 240 *231 240 *231 240 232 232
300 American Express
3205 Feb 5 23212 Aug 16
9
9
9
938
914
953
812 812 3,100 Am
9
9
9
9
peorica
prnetHide do Leathei
9,8 Aug 3
614 Feb 25
8,450
4912 5034 8012 51
4912 5012 4912 5012 4834 4914 4818 49
34 Feb 21 5178 Aug 3
13,296 American Ice Securities... 1878 Jan
361- 3212 3534 3314 3458 3318 34
3314 34
3618 3634 35
4214 Apr 13
1,500
1612 1612 164 16 2 *16
1558 1558
17
16
16
1553 16
American Linseed
12 Feb 27 20 J'nell
4312 034 43
4314 4212 4212 4214 4338 4214 4214 *41
4212 1,500 Do pref
29 Jan 12 4734 J'ne 14
6614 6634 65 66
6334 6518 64
6534 6134 631: 6012 6212 20.920 American tLocomotive
49 Feb 2:4 6914 Aug 4
*11712 11934 --- - ... *118 11934 *117 119 *11712 119 *117 119
10914 Feb 24 122 Aug 4
*9i2 10
938 938 *914 912 *9
912 -91t.
500 American Malt Corp_ --9
9
91:
512 J'ly 16 1112 J110 1
*5311 55
5312 1,100 Do pref
53
53
5312 5312 *5312 54
5312 54
83
a Jan 7 5812 .rne 3
8978 8978 90
9014 9014 0012 9012 9012 9038 901: 9034 9118 1,763 Amer Smelters Sec pref B 80 Jan 4 9118 Aug 20
10112 10278 101 10278 10014 102.18 10053 10258 9914 101
peor Sp
9634 9912 139,500 Am
reeltingdo Refining 7734 Feb 24 10478 Aug 12
11534 11614 11512 11114 11458 11518 4115 116
2.610
114 11412 11312 114
101 Jan 2 11634 Aug 6
*250 300 *250 300 *250 300 *250 300 *2.50 300 *250 300
American Snuff
225 Mch 9 280 Aug 5
*101 110 *101 110 *101 110 *101 110 *101 106 *101 110
Do pref
96 /deb 1 105 may22
5912 5912 5912 5912 59
5858 3,640 Amer Steel Found (new)- 3478 Feb 21 8314 Aug 7
59
5614 5811 58
57
58
132 13i':• 13112 13314 13112 112 131 13214 130 131
129 13034 4,600 Am
DeorIca
pre
n TSugar Refining 121 J'ne 17 136 Apr
127 127- 12714 12714 *120 123 *126 129
400
12618 12618
127 127
120 J'ne 16 131 Apr 8
18,600 American Teleph & '['clog 125 Feb i 14338 Aug 2
14112 142
140714 14118 14012 14158 13934 14034 13938 140
14112 142
10158 10134 10112 10134 10112 10112 10134 10134 10134 10134 10112 10158 1,600 American Tobac (new).pi 9012 Feb 6 104 Mayll,
3,303 American Woolen
3814 39
3212 39 • 3778 3838 3814 3814 3778 377: 3778 38
26 Feb 4 3978 Aug 9
2,001) Do pref
10112 10412 *10412 10514 105 105
10434 10538 10514 10514 10434 105
9334 Jan 6 10734 J'11014
48
4912, 50
4834 4934 4812 4934 483s 49
4914 50
4812 9.800 aAnacondaCopper Par$25 53734 Feb 26 $52 May 8
*10734 -___ *10734 ---- *10734 ---- *10734 ---- *10734 --- - *10734
Assoc Merch 1st pref..... 105 Apr 2 114 J'no 25
*10712 _ __ *10712. __ *10712 .. -- *10712. __ *10712 . *10712 ---Do 20 pref
10112 Feb 17 10412 Feb 19
-5
4
478 17; *478 5 -1;i5o aBatopilas Mining ParS20 $278 Jan 29 $512 J'ne 30
478 -8
6
434 -5
-5
3218 3178 3211: 3134 32
3134 3134 3134 3134
32
3114 313:: 2,350 Dethiehem Steel
3412 Aug 9
1834 Mch
6414
*6334
800 I
6414 6414 6414 6414 6414 6414 64
635:: 6358
64
47 Feb 29 67 Aug 9
Do pref
*146 149
1,000 Brooklyn Union Gas_ _
148 14812 146 140 *146 14812 14512 14811 *147 150
118 Jan 28 14938 Aug 12
*17
1814 181s 1838 18
840 Brunswick Dock & C Imp 13 Jan 13 2034 Jilell
18
1514 1514
1518 10
17
17
*3014 32 *3014 32
130 Butts-rickButterick Co
32 *3012 33 *3012 33
32
13112 3134
237 Jan 2 3478 May)?
3718 40
3814 4012 3834 3978 3914 4014 1858 4111
39
4038 86,720 lentral Leather
2512 Mch 2 411$ Aug 19
110914 10914 10958 10953 10918 10918 109 109
109 10912 10858 10858 1,000 ki Do pref
9934 Apr 5 110 Aug 4
4478 4614 4514 46
4434 4512 45
4634 4438 451, 4134 4478 23.450 Colorado Fuel & Iron..-- 29 Feb 23 4828 Aug 12
4,150 Col do Hock Coal & Iron_ 2138 Feb 23 7314 Aug 6
7112 711k 70
6934 70
6934 70
7912 71
7034 7014 71
14614 147
26,095 Consolidated Gas (N Y). 11412 Feb 4 16514 Jan 4
14238 143 141 144
14414 146 x14212 145
14478 147
6,425 Corn Products Refining_
2358 24
2234 23
2334 2378 23 . 2334 2318 2338 2234 23
1812 Feb 21 2612 J'ne
8834 8834 *881.4 89
8812 89
8812 887s 8814 881, 881:3 8812 1,950 Do pref
7314 Feb 24 9312 J'ne 1
*56
60 ,
60 *56
.513
60 *55 60 *55 60 *55 60
Crex Carpet
45 Jan 5 61 May25
3814 3812 *18
38
38
3712 3834 6,100 Distillers Securities Corp 3212 Feb 23 4112 Jan 25
3873 3734 3871
3812 38
*83 8912 *83 8912 90
9512 Amyl'
891; *75
90 *72
§912
8912 *75
Federal Mining & Smeit'g 55 Mch
600 Do pref
. 93 93 *91
9112 9212 *9112 9412 9112 911; 4402 9112
93
30 Feb 24 04 Aug 11
..
-- ---- --.... -Federal Sugar Ref of N
345 lich20 §51 J'ly 12
95 Aug 3
Do pref
$90 Jan
io;i2 17-618 111-31-3; 179ieir , IF' 16578 16678 - 6.500 General Electric
15018 Feb 23 17234 Aug 12
*100 105 *100 106 *100 105 *100 108 *100 105 *100 105
Granby Cons M S &
91 Mch 12 1.tu .(an 4
8012 5912 89
89
8834 883.1 *88
800 nt Harvester stk tr ctfs 62 Jan 30 8978 Aug 12
89 *8512 897i
121 12112 12034 121
121 12114 121 121 '121 121
2,800
12034 121
Do pref stk tr ctfs__ _ 10914 Jan 16 123 'ne 3
300 Int Mer Marine stk tr etts
*612 7
634 634 *612 7
9 Jan 2
614 634
*614 078
538 J'ly 9
*614
*2134 2:-31 *2112 223.: 2214 2214 22
2158 213, 2034 2112 1,200
22
Do pref
1834 J'ly 9 2758Jan 2
1838 1718 18
*16
17
17
17
1778 1718 173,
17
1738 10,550 International Paper
Mch 13 1838 Aug 16
912
*67 68
4,000
6773 0838 67
67711 67 67
6658 67
6434 66
Do pref
4734 54.'h l$ 6934 Aug 3
40
42
41
4214 4034 4112 40
11,170 Internet Steam Pump
40
401;
40
3978 41
3312 Feb 21 4234 May12
88
8858 83 8858 8718 8818 *87
8818 8514 87
87
Do pref
8734 3,100
8212 Jan 36 90 J'iy 16
*81
8414 *81
8414 *81
200 Mackay Companies
8414 8112 8112 8112 811; *81
83
70 Jan 21 8412 Aug 4
*7412 75
741. *7414 7412
7418 7418 *74
152 Do pref
75 *74
75 *74
6912 Jan 9 7618 J'nel0
106 10612 *1053.: 107 *10312 10812 107 107 *10312 10842 10612 10612
500
ational Biscuit
10858 Jan 16
Jan
9612
*12618
_ *12618
__ *12414
.*126
50 11 Do pref
§126 126 *126 --11812 Jan 11 327 Aug 4
*1612 17-12 17 17
17 1T38 1714 1/5-43 17
17 *1634 1712 2,400 Nat Enemel'g & Stamp'g 1258 Feb 24 1834 J'ne 8
*91 . 95
14112 9412 9412 9412 *94
200 Do pref
96 *9312 96 *93
96
z•2 Jan 5 9412 Aug 16
9258 933: 9258 933: 9112 9234 9114 9314 9078 913
31,200 National Lead
8934 91
7114 Feb 25 94 Aug 13
*113 114
11314 11334 *11338 114
642
11333 11312 *11314 1133, x11134 112
Do pref
10234 Apr 21 11334 Aug 12
312 312
200 Newhouse M do S_Par $10 $112 J'ne 24 $6 Jan 2
312 312 ----- --- --- ---- --•
*90
95
94
04 *90 -95 *90 -95 *____ 93 -897 90 500 New York Air Brake
80 Feb 23 97 Aug 10
*141 142
141 14114 *140 142
300 NY&NJ Telephone
14012 14012 *140 142 *140 142
1113 Jan 7 14212 Aug 3
8518 8512 8334 8412 83
8353 . 8314 84
8234 4.900 North American Co. new 72 Jan 13 874 J'ne 14
82
8234 83
3214 321: 1112 3112 *3114 3212 3278 3378 *3114 323, 32
3258 2,610 'Pacific Mail
2918 Feb 24 3634 Jan 14
11812 11934 118 120
11718 11812 11678 11834 11618 1171, 115 11634 92,450 L copies G L & C (Chic) 10312 Jan 13 120 Aug18
*1412 1512 1312 15
1634 1634 18
15
181;
17
1718 1928 45,600 Pittsburgh Coal Co
1938 Aug 20
10 Apr 21
53
5112 543: 54
5412 52
*51
541;
54
55
5434 5038 3,700 Do pref
40 Feb 25 5634 Aug 6
51
5114 5018 5118 49 6038 50
6034 4758 481, 48
4878 12,390 Pressed Steel Car
3012 Feb 23 56 Aug Is
107 108
10758 10758 *106 108
109 109
109 109
1,140 Do pref
106 106
96 Feb 26 11134 Aug 11
197 197 *195 198
*196 199 *196 199 *195 198
200 Pullman Company
190 196
169 Jan 30 200 Aug 6
6
6
612 61. *5
7
512 612
938 J'ly 6
612 . 65;
612 612 1,100 Quicksilver Mining
158 Jan 4
100
7
*5
7
*512 612 1,512 612 *512 612
512 512 *5
Do pref
3 Mch29 10 May13
50
48
51
49
4,900
4912 50
4918 50
47
4958 50
49
alliza
oy Srte
e? Spring _ 3212 Mch 8 5412 Aug 4
200
10614 1061 1 *10614 109 *10614 10812 10712 10712 *106 109 *10712 109
9778 Feb 24 109 Aug 11
3712 381;
3838 391, 3814 3978 38
3878 3718 39
3658 3758 28,050 Republic IPron & Steel
1658 Feb 23 13978 Aug 7
106 107
107 10734 107 10738 10134 107
105 1051, 10412 10512 6,200
Do pref
6718 Feb 24 1104 J'ly 28
8534 84
3,360 kaloss-Shetfleld Steel & Ir Os Feb 23 8818 Aug 7
8458 8512 85
8578 8578 86
80
85 x82118 86
O Do pref
*119 123 ......
__ *119 122 *119 121 *119 121 *119 121
10738 Feb 2U 119 Augll
3812 39
3878 3918 3812 3834 3838 381; 38
39 -3-9
3938 5,000 dTennesseeCopper Par$25 $3434 Feb 26 $49 Jan 4
*90
93 *90
90
*8712 89 *8712 89
90 90 *86
100 Texas Pacific Land Trust 8012 Feb '23 9378 J'ly 10
91
14
1438 1438 1414 15
1414 1312 131;
14
1338 1334 2,100 I I nion Beg & Paper
14
1538 J'ne 18
914 Feb 24
*7712 791, *75
7912 *7712 80 *78
80 *75
791; 37912 7012
40
Do prof
68 Jan 8 8114 J'ne 29
111114 1114 111 111 *11034 11114 ........ - 111 111
11012 11034
738 United Dry Goods pt etfs 11014 J'ne21 11134 Aug 6
*32
3314 3314 3314 *32
34 *32 -3314 *3114 33
800 IJ S Cast I Pipe & Foundr 2438 Feb 24 3512 J'ne
8412 8412 8434 85
861; x8514 8512 4,105
8478 8512 86
8712 86
Do pref
70 Nith 2 8712 Aug 18
*89
95 *89
95 *89
95 *89
95 *89 95 *89
96
United States Express._ 82 Feb 10 199 Apr 30
83 83
8218 8271
8314 8312 8234 83
821:1 83
8278 83
2,200 U S Realty & Improvern't 64 Feb 23 8512 May17
*14
18 *14
16
*14
18 *14
16 *14
16
*14
10
US Reduction & Refin'q 10 Mch12 1712 J'ne 17
3913 *37
*35
39 *35
3912 *36
3912 *36
391; *36
Do prof
3912
24 Feb 24 3912 Aug 12
6078 5238 5014 52
5314 5314 5518 6278 5751
50
55
67
74,043 United States Rubber
27 Feb 24 5758 Augi9
11812 12014 119 120
11812 11914 119 12014 11834 1191, 119 119
9,170
Do 1st pref
98 Jan 29 12014 Aug 14
88
8838 8814 8814 87
8814 *86 88
8734 88
8612 8734 2,850
6712 Feb 25 8838 Augi9
Do 20 pref
' 7658 7878 7634 787:, 7638 7814 7634 7858 7538 77
7314 7558 1000210 United States Steel
4114 Feb 23 78/8 Aug 12
12518 12712 12514 12614 12518 12658 12412 1253 12314 12478 27,405
• 12578 128
Do pref
107 Feb 23 1208 Aug 4
5218 53
5253 53
50
51
52
521: 5114 52
5038 5078 6,920 dUtah Copper_ _ -Par 210 $3918 Feb 26 $5412 Aug 12
481:: 4958 48
481.
'-•
4758
4831 4,
4878
47
4818
49
48
12,300 Virginia-Carolina Chem_ _
349 5614 J'ne 14
b2
JFeeo
*122 124 *122 125 *123 125 *123 125 *123 125 *123 125
Do prof
123 J'ne28
1414078
6512 6512 *63 65 *63
67
66
*63 67 *63
*64
100 Virginia Iron Coal & Coke 57 Feb 23 67 J'ly 19
07
-*310
*315
*315
- *310
*310 . . *310 _300 Jan 5 330 May28
ells Fargo & Co
7338 -H3-4 7434 -743
--741: 74 -75
7412
_--4 74 -7472
73 -1:iio
astern Colon Teleg
64 Feb 24
7812 May 7
87
86
8678 86
87
85
861
86
87
86
84
8434 6,300 Westingh'seEl& M fg asses 74 Feb 24 90 Aug 7
125 125
125 125 *120 140 *125 128 *120 133
*120 130
200
Do 1st pref
110 Meh :4 130 Aug 12
ia- i-o-,. ia- i-eFs
N
Range ;or Prerlow
Year (Ii1Oril
Lowest
HWhest
164 Jan
5 Md.
14 Mc(
45111 Feb
13 Jan
7812 Jan
912 Feb
65 Jan
4 Feb
44 Jan
'2512 Feb
8414 Itch
2434 Feb
380 Jan
3170 Feb
2714 Feb
1212 Mch
1212 Feb
Ii Mel,
17 MO;
3138 Feb
8513 Jan
Mch
21 Jan
70 Jan
5512 Feb
8734 Feb
180 Aug
80 M ch
28 Sep
9834 Jan
105 Feb
101 Jan
7212 Jan
1512 Feb
7814 Feb
$271. Feb
1200 Aug
loas Dec
5234 Deo
8828 Nov
35 Nov
96 Nov
2475 Apr
8134 Deer
10)4 Nov'
7678 Nov
6034 Dee109 Dee
4434 Nov
97 Nov
§224 Stay
812 Dec
3734 Dec
3178 Aug
1712 Dec
3814 Dec
5938 Aug
113 Dec
8E,-; Sep
5,18 Sep
8415 Aug
107 Aug
11038 Aug
200 Apr
9712 Sep
41 Nov
13734 Aug
131 Nov
13238 Nov
9712 J'ly
3238 Dec
97 Nov
531? Nov
3212 Jan
12 Jan
35 Apr
r85 Feb
6 Jan
310 Feb
1512 Feb
7634 Jan
1558 Feb
1434 Mch
96 Jan
1034 Feb
56 Jan
9712 Oct
'4114 Feb
7212 Nov
59 Feb
56 J'ly
731,Feb
ill Jan
7834 Jan
52 J'ne
99 J'ne
6 Oct
16 Feb
8 Apr
47 Oct
13 Jan
65 Jan
62 Feb
6978 Feb
6.8 Jan
102 Jan
712 Feb
;70 Feb
86 Feb
871k Jan
$438 Oct
50 Jan
90 Feb
4218 Mcb
24 Apr
80 Jan
812 Mcb
364 Feb
1714 Feb
69 Jan
147 Jan
12 Apr
112 Jan
2334 Feb
75 Jan
1434 Feb
63 J'ne
36 Jan
8712Jan
$2512 Feb
45 Feb
4 Feb
447 Jan
8.5 -sich
2714 Nov
57 Nov
15214 Nov
17 Nov
325 Jan
33 Dec
102 Dec
42 Dec
2712 Dec
167 Dec
2012 Aug
80 Aug
4814 Oct
.434 Dec
99 Aug
89 Nov
684 J'ne
100 J'ly
16234 Dec
10912 .I'ly
675s Nov
11014 Nov
9 May
2678 Dec
1314 Nov
65 Jan
3978 Dec
8414 Deo
78 Nov
7134 Nov
97 Deo
1204 Deo
1514 Dec
Z8214 Deo
112 Aug
1064 Nov
$976 Jan
98 Nov
122 Nov
78 Nov
4014 Dec
10612 Dec
1458 Dec
50 Dec
45 Dec
10214 Dec
174 Nov
134 Dee
312 Dec
4914 Deo
103 Dec
29 Nov
8912 Nov
8134 Nov
11014 Dec
$5214 Nov
8412 Dec
954 Nov
6634 Nov
1712 Feb
51158 Jan
70 Feb
3014 Feb
4 Feb
16 Feb
1734 Feb
1(1 Feb
42 Feb
2534 Jan
S71 Jan
:au Jan
16 Feb
r87 Jan
43 Jan
3250 Feb
41 Feb
38 Mch
58 Ye?,
3078 Dec
7878 Aug
90 Jan
64 Nov
1514 Aug
39 Aug
3712 Aug
lus Dec
76% Nov
5834 Nov
114-N Nov
$5234 Nov
4534 Dec
115 Nov
18 Nov
325 Nov
7134 Nov
94 Nov
125 Nov
BANKS AND TRUST COMPANIES-BANKERS1 QUOTATIONS.
ilia
Banks
Banks
Ask
Bid
Brooklyn
Brooklyn
Hormel' 1, _ 90 105 North Side 11 160
910 Peop13'c
Broadway 1 1350
155
13rooklyn 1,.. ___. 145 Prosp'ctPlt1 150
____ rermlnal 11-...
280
First
130 U n(on 11- - -. 10)
1-1111sidel._,.. 110
Home 111t 11_ 111)
125
['rust Co's
125
liomesteadl 100
•
N Y City
Manutac'rs 410 430
biechanIcs'l 240 260 Astor
335
Montauk __ 145
_ __ Bankers' Ti 878
B'way Tr-. 145
2/0
Nassau ____ 240
Nat (iity_ 290 310
'.' Bid and asked twines: II) sates on tans day
Sale at Stock lixohange or at auction this
•
•
Ask
Ask
Trust Co's Bid
N Y CUy
Carnegie __ 175 185
Central Tr. 6990 1025
Columbia -.2871; 295
Commercial 146 148
Com'wealth
- 155
310
IlmnIre ... 300
Equit'bie Tr 480 600
......
Farm Lode' 1600
345 Fidelity __. 203
207
2.... Fifth Ay Tr 400 420
155
Fulton -- '270
-.
Trust Co's 814 Ask
Guar'ty Tr_ 690 710
.....
Guardian Tr 160
Iludson_ 175
_..,.,Knickerblk1 335 350
Law T Ida: 1245
-Lincoln 'I'r_ 165 170
Manhattan. 370 390
Mercantile . 725 750
Sletroportn ..
Murton Tr_ 600-...
Mutual ___ 120 127
.....Mut Airno. 135
Trust Co's Bid
NY Life&Tr 1090
N Y Trust_ 610
Standard Tr 350
TitieGu& Tr 495
Tr Co of Am 1365
Union Trust 1275
US MU( &Tr 445
Unit States_ 1220
Van Norden
_
Washington '476
Westchestez 145
Windsor -- 135'
Ask
1110
___
375
505
-.
1300
460
.
260
_410
155
145
Ask
Crust Co's Bid
Brooklyn
Brooklyn Tr 410 420
Citizens' __ 138
145
Flatbusb. -- 200 225
.......
Franklin __ 200
Hamilton... 265 275
108
Home
.....
aIngs Co . 600
L 1st L & Tr 300 315
Nassau
150
170
People's
285 500
Queens Co
120 130
Willlamsb'g 80
100
8 Less loan 100 snares. I Ex-rlonts. a Ner: stocic. c Ex-dly. and rights. a Now auoted dollars per share.
week.
Trust co, certificates.Bank: marked with a paragraph I are State banks.
-_
_
160
130
105
--555
456
New York Stock Exchange-Bond. Record, Friday, Weekly and Yearly
J.1 1900. the Exchange method of quoting bonds was changed, and prices are now a7
,-"ani tnterest"--3x3eg! for income and defaulted bonds.
BONDS
Prtce
...1.•
N. Y. STOCK EXCHANGE 1....„; Pridav
'
;
41
' August 20
WEEK ENDING AUOuST.20
Week's
Range
Range or ., since
Last Sale A -c January 1
BON lla
N. Y. STOCK EXCHANGE
WEEK ENDING AUGUST 20
- i..
5
Pelee
-;; loridav
. August 20
--..4
Week's
Range or
Last hate
Range
sines
s-•
P
•C‘c
January 2
But
Nigh No Low Alto
4816 Lois
Low High Cent of Ga ER-(Con)
75
761
/
40'1y'00 .... 53
60
80
30 pre' income g 5s....p1941.' Oct
/
4
1014 1(.021
774 761.2•Ply'09 .... 54
stamp°
..
3dpref
.
.
income
80
g
bs
101 103
8904 b'eu'uzChatt Div pur mon g 46.1951 J -D 90%
101 1035
1041011008
Mao & Nor Div lst g 50.1946 J •J 110
100% 102 iv
Mid Ga & All Div Os. .1947 J -J 10(3%10934 115 Noy906
1104 Alay'00 .... 11014 1101
Mobile Div lat g 58
1940 J.J 1104
1164 1194
105
1 104 106
Can RR & 13 of Oa col g 53 1937 al-N 105 1054 105
119 121
101 1011
/
4 Cent of NJ gen'l gold 58.1087 J.J 127% 8111.. 127% 127% 1 127 129
127 J'ly '0. .... 120 1273
Registered
51987 Q.J 1264
Foreign Government
110 110 J'1,y 'Oil .... 109 1101
Am Dock & Imp gu 5s..1921 .1.J
/
4 9014 95½ Aug'09 .... 95% 99
Argentine-Internal5sof 1901 M.8 4 951
Le & find R gen gu g 5s 1920 J -J .
101.,
*-- • --.
----- -- .
101 J*;ne
Imperial Japanetto Uoverunri
934 101
Leh ,b Wilke B Coal 58_1912 .8-N 100'a
943
111()3 Aug'01).... 997 1001
954 81 9034 9(14
Sterling loan 4'ss
192. F-A I 954 Sala
Con ext guar 41.28....g1910 Q.m 100%
1925 J.J 4 9342 Sale 93's
931
2d series 412.8
/
4 31 894 944
N Y& Long Br gen g 48 1941 II-9 190
S, 8034 s+8; Cent Pacific. ,See So Pacific Co
861
/
4 Sterling loan 4s
1931 J -J 1 8638 ciale 80
/
4 103 103
103
00
2 804 90
894
Repub of Cuba 58 exten dent. 11-S 1021
2 10134 1041
/
4 CentVermont lat gu 1140.61920 Q.F 8934 91
96
9434 03
95
San Paulo(Brazili 58 tr rects'IC. J.J
1 1192
93% Chas & Sav See Atl Coast Line
U9100
9914 Aug'09 ...,.. 97%101¼ Chas & Ohio gold Os
1021
/
4 Aug'06 .... 101 12 1031
U Sot mexico 6 1 g 56 of 1899 Q-J
al911 A-0 #102%
/
4 041
/
4 94
/
4 7 1144 117
941a 27 924 95
195, J-0 931
let conisol g 56
Gold 4s ot 1904
1939 M.N 1144 Sale 1144 1141
*These are p Ices on the b aids o/$5 toe.
114 12 Feb'OU. . 1134 1141
Registered
1939 VI.N
State and City Securities
/
4 II 10034103'
Gen funding & unpt 53.1929 .1-.7 1014 101% 101¼ 1011
108
- 110 Nov'08 ....
Dist ot Columbia 3658...J924 FGeneral gold 44s.
1992 NI- S 1034 sale 103% 104 14 24 103%1063,
106 le Deo'04 ....
95
Louisiana new cousol 46..101 J-J
1
4 105 Apr'01) .... 105 105
1
4 104/
Registered
1992 Art-S 193/
8834 Aug'09 .... 8834 la
New York City/
4 59
Big Sandy 1st 48
1944 J.D 891
110 511sy'oll ... 107 4 1103
4s when and as issued.195 M.N 101% Sale 1014 10138 92 10012 1011
113
Craig
Valley
/
4
1st g 56
1940 J -J
/
4 Aug'00 .... 101 103
/
4 1011
110 Jan '00 .... 90
4% Corporate Stook_ ..195: 31-N 101 1011
Potts Creek Br 1st 48..1946 J-J
90
101 4 Dee On ....
40/0 assessment bonds ..1918 M-N
It & A Div 1st con g 48..1989 J •J
9914 99 J'ly '01).... 99 1001
'95711-N 111¼112 112
112
New 446
I 11P11238
2d cousol g 46
9714 964 Apr'09 .... 904 061
1989 J.J ,_
1917 14-N
10418•PKY'
09
New 4¼s
Warm Spr Val lst g 56..1941 M-S 307
1134 1. el)'00
104 1047
„1/4
/
4 Bale Ill's 112
.1.r 11138 1121
Greenbrier Sty 1st gu g 4.6 '40 M-N ,
41
/
4
/
4% Corporate Stook _1957 M-N 1111
1!,..o. 951'4 95
'
t 9'OS
1 104 1041
774
1 771
4 1.2% assessmt boutts....1917 MN 104%104% 10438 104.
/
4 80
77¼
/
4 Chic & Alt RR ref g 3s...1949 A.0 214
/
4 1, 101 10314
764 10 731
/
4 7;
/
4 10138 1011
40,0 Corporate Stook....1967 M.N 101 1011
Railway let lien 346-1950 J -J
76
761
/
4 761/4
N Y State-Highway 413_1958 M-S
11338 J'ne'09
Registered
73
73 Feb'o9 .... 73
11234 113%
„„,
1950
J.J
'09
Jan
1021
/
4
20-40
101
1933
J
-J
8
Carolina
41
/
4
2 1191
/
41003,
0934
Bo
994
10214 Chic Burl& Q Deny D 4(11022 F-A '
1'
1/
1
4
95.4 Feb'00 ... 102¼
9534
Tenn new settlement 38-191:• J -J
9034 30 98 101
General 4s
954 9534
1938 M-23 9934 Salt 994
911
/
4 Aug'09 ..., 911
91% 94
UU1
/
4
Illinois Div 34s
5 9() 93
Virginia fund debt 2-3s...199 J -J
90
/
90
4 93
1949 J -J
42le Aug'Oil
43
9134 Lee'08
Sc deterred Brown Bros otts
Reguiterea............1940 J.J
374 48
/
4 101 10014 1005 22 100 103,
Ills Div 48
J.J 1001
1949
Railroad
Iowa Div sink fund 58 1919 A-0 10514
10514 Apr'011 .... 10338106
laoama Cent See So Sty
9914 Augliii .... 9934 1013
Sinkingfund 46
1919 A-0 99%100
_laba Mid! See At Coen Lin •
.00
Nebraska Extension 46.1927 M•N 1004 1u04 100
22 100 1021
Albany A,Suso See Del tto fluu
Registered
1/ 31ar'00 .... 101%1011
101
1927 M-N
Allegheny Valley See Penn RE
0914 J'ly'09 .... 99 1001
Southwestern Div 4s....1921 M-S
e0-2
Alleg & West See Buil R &
Joint bonds See Great North
84 • 84 J'IVO9 ---.. 84
Anu Arbor let g 48
51094 Q-J
87 4
1919 M.N 102 10234 102 Aug'00 .... 10134 1031
Debenture 5s
/
4 100.4 ifie 1001
1
4 Sale 1001
10234 lo4/
Han & StJes cense!68_1911 1/1- 8 10234
Atoll T de 6 Fe-Gen g 48.1991 A-0 100/
/
4 101 8
1
4
1 10234 1031
1995 A.G. 99% 1004 100 Aug'01).... 99 100% Cluo& 11;'Bret& imp g 46 1955 J.J
861
/
Registered
4 8738 87
871
/
4 6 86
90
94 Aug.() „„,., 92
931
/
4 94
Adjustment g 4s
41995 Nov
lat consol g 0s
951
/
4
1934 A-0 11914129¼ 187 blay'00 .... 12938137
9214
b'el,
'00 .... 9214 9214
(.4enerat e0n4n1 1st54.......1937 71.N 11.44 11438 1144 Ang'01,.... 114 115.,
Registered
81996 Nov
81995 1.3.N
931
/
4 94
stamped
93%
114 ..11.0)9 .... 114 1141.
94
4k 921
/
4 951
/
4
1937 11-N,
Registered
1164 Sal. 1164 119 291 11214 119/
1134 J'1Y'09 .... 11314115
Ciao & lud 0 Ity 1st 3.1.1936 J -J 33,.,•3,_-2
Sub recta(lull paid)conv 4s ..
1
4
/
4 Sale 11734 11914 192 102's 120
Mb J di 1171
Chicago & Erie See Erie
Cony g 48
/
4.1'1y'09 ..... 127 129
/
4 578 10534 12038 Chic In& Leanly ret tie...1047 J.a 127381281
/
4 1271
1917 2-1) 11.74 sale 1164 1191
10-year cony g .56
99 4 PIY 'uli .... 991
/
4 [1'414,)1)'))U .... 1124 1141,
/
4 901
994
/
4
Refunding gold 5s
Debentures 46 SeriesH.1910 F.A
1947 J -J 113 1191
984 J'ly'09
981
LOIN J'1Y'
/
4 981
01
'.... 101411)21
981/4
/
4
Loamy N A & Ch 1st 66.11310 .1-J
1919 F-A
Series K
/
4 105k
974 9738 974 Autt'09 .... 97
/
4 1044 Aug'01.1 .... 1041
Chio Mil & St P term g 66 1914 J -J 1044 1031
Emit Okla Div 1st g 48..1928 M-8
99
/
4
u434 49 94
b 1021
9414 941
104
/
411045
964
/
4 104
General g 48 series A-81980 J -J 104 1041
1968 J -J
Short,Line lat 4s g
1031
/
4 Oct'08
Registered
i.t1 Knox alt N See L at N
61980 (-1-J
9638 31 9414 96%
1)0 saie 894
90,
b 894 1)21
General g 3128 sanest:1.6.1689 J--J
Atlantic Coast let g 46.41952 It-8 964 Sale 96
941
/
4 au 944 95
0438 sale 944
25-yr deben 48(w I)
Charles & Say let g 78..1930 J -J 13234
1994 J -.1
1991
/
4 MaY'011 .... 10034 10911
/
4
Chic do L Su Div g 58
Say le & W 1st gold 6s..193 A-0 127 128 127 J'ne'09 .... 127 127
1921 J.J 1091
PlY
'00
.... 112 1131
112
1124J'IY'09 .... 112,-4114
11141134
Chic
&
1934 A-0 113
Mo
Itiv
let gold 6s
Div
53_1920 J.J
mey,09 ..... 11014
1004 1011
/
4 1014 J'ne'09 .... 1014 1011
Ohio & Pao Div 08
l&01
Ala Mid lat gu gold ba -1928 M-N 109 111 11076
1910 J -J 1091
/
4 109., t09.4 Aug'01, _ : 10941101
13614J'Ile'09.
901
/
4 904
9,6
Chio & P W lst g Os
Bruns& W lst gu g 4s _1938 J-J
1921 J.J
0118 San, 91%
104% 104% .
921
/
4 30 86
Dak de Gt So g 68
o1952 hl-N
934
4 104% 1057
L & N coll. g 46
1910 J -J ,
1(1
,4i3
n
137/
971
/
4 J'ne'01,
1
4J'ly'90
97
97
974
Far & Sou mien g 6s
Sil tip Oca & LI gug 46 _1918 J -J
1924 J.J ''="
/
4 101 Aug'Ou .... 101 1021a
Haat & I)Div 1st 7s
Atlantio.& Danv See South Ry
1910 J -J 10041011
101 Mar909 .... 101 101
ist as
Austin .Y4 N W See Sou Pacific
1910 J.J 1°°14
94 Sale 94
1004 Nov'08
94% 11 93
/
4
LaCrosse & 1) 1st 6s
95
Dalt& Ohio prior 1g 3les.1925 J -J
1919 J.J 1001
lop,Al ay'Ui).... 10141011
93 May'ub
51923 14-J
Mineral Point Div 5s....1910 J•.1 1004
92
ii3
8./ Registered
1003
8
bale
1014J'IY'UV .... 101 102
A.-0
1001
/
4
51948
101
53
So Minn Div Lit 66
91)34 10168
6018 45
1910 J -J 1°0'1
99% 981
/
4 Aug'00 ....
/
4 1091
/
4 2 10934 nu
Wis & Minn Div 1;68....1921 J -J 10938109% 1091
/i194-' Q-J
Registered
120 001 '0.1 .... 9814100¼
/
4 1011
/
4 J'1Y 00 .... 10134 1017,
Mil & No let M 1, 6a.....1910 J di 10038 1011
Pills Juno 1st gold (3s...192` J -J 108
59 J'ly'llk .... 88
10734 J'ne'ul).... 10738 1073,
89
88
lst oonsol 6s
89„,
PJun & 1.1 Div lat g 34811)26 M-N
1913 J -D 106
1
4 115 J'Iy919 .... t1414 1161.
93/
1
4
/
4 114/
Ohio &Northw cons7 __Mb (.1-F 1131
9356
93.1
/
4 80 93
96
P L E ab W Va Sys ref 461941 SI.N
Ill
907
U04 91
10034 J'iy'09 .10038102
24 90
Extension 4s
13outhw Div 1st g 31-38. .1925 J.J
917
18886.1920 b`-A
91 Apr'00
1004 J'Iy•09 .•,,: 9934 101
51925 Q-J
.
Registered
91
Registered
91
1886.1920 F-A
1.10 4
/
4 sate
1101
911
/
4 al 9014 943
10538 ifelf07. ...
&tenon RP/ Dit gu g bs..1910 F•A 101
General golu 346
1987
M-N
1)318 Apr'OU
931
/
4 983
103 J'ne'09 - 103 103
/
4
Registered
Oen Ohio It 1st a g4126-11590 M-S 1021
41-lf
p1987
112 Aug 09 .... 112 112
113 Aug'09
Sinking fund 6s-1879-1929 A.0 112%
1104 113/
1
4
Cl Lor & W con lot g 5811)33 A-0 113
10934 1. eo'01.1 .... 10034 1091
1134 Feu'
09
1131
/
41131
/
4
Registered
Ohio River RR 1st g 68.1031 J-L 103
1879.1920 A.0 11_114
1101
/
4 Aug'in) .... 108 1101
1101
/
4 1104J'he01,
193 A-0
General gold 56
Sinking fund 58_1879-1929 A-0 31.1,
1081
/
4112
11014 J au'09 .... 11034 1103,
1191
/
4 Alar'04
Registered
Pitts Clev &Tot 1st g 64 1922 A.-0 11034
1879.1929 A..0 997 93 Apr'OU _
98 "iiii
Lou's J'110.119 .... i3014 101
1)84
Debenture 66
Pitts & West 1st g 48-.1917 J -J
1909 M-N
IOU N ov'04
10038 Ms3000 .... 10038 1005
Stet Isl Ry lat gu g448 194: .1-1)
Registered
11)0971-N
/
4 1074 Aug Oil .... 107 1091
Debenture 68
Beech Creek See N Y C& H.
1921 A-0 107 1071
..
193 J'nu'07 ...
Bailey & Car See Illinois Cent
Registered
1921 A-0 ,
1 iYi 'fro
.
111
Sinking fund deb 5s
Birlyu & Montauk See Long 1
1933 M-N 1-11 Sale 111 J'ly'llo
..
.._
100
111
Registered
Bruns db West See At!Coast L
1999 M-N 4.
101 Apeull .... iiii. 1011
North Illinois 1st 56....1910 M-8 ,
Butialo N Y & Erie See Erie
10
,0,
,
,
....
Aug'09
11-8
116
4
1163
1163
4
63...193
1161
/
4 11738
Mil L s& West let g Os 1021 M-S 11
Banal° R & P gen g
.
-2.
1933 118'3 Aue"
11813 1194
.113 Jan'09 .... 1134115
/
4J'ly '0I)
1957 Mai 110 1104 1101
109 1104
Ext & Imp a fund g 56 1920 F•A 113
/
48
Consol 411
1424 Fet.,9)2
Ashland Div lat g 60_11126 M-8 1204
All & West 1st g 4s gu juub A-0 100%. 11.1t: 100', 10014 6 100 1004
Apr'011
....
129%
1131
/
4
1223
'08
J'ly
.4 123,
103
-J
Mich Div lst g 0s
0125 Mali 1st gu g 58.-11143 J
1924 J -J 122
.,uu ....
mu)
1031
/
4 6 11738119
1
4 Salb 1174 1171
/
4 1031
Incomes
1911 M-N 102 103.e 10314
Rash & Pitts 1st g (is...1921 F-A 1/7/
/
4 Aug'09 .... 1134 1141
/
4 1204 Aug'09 ..... 11834 1211
/
4 chni Rock 161 & Pao (36...1917 J -J 1134 1134 1191
1022 J-D 12041201
Cense'lat g Os
.
Registered
1917 J.J 113 114 1124 J'Iy 108 .
Buffalo & Southwest See Erie
1988 J.J
1904 :ii 161;MI
In//
1
4 U934 90%
8934 21ar09 .... 871
General gold 48
/
4 90
Bull & Suaq 1st ref g 48.a19151 J -J ...... 117
Apr'011
109
lt.
•,
9934 1001
99
Registered
BurCR&N SeeCRI&P
1988 J-J
1984 A.ty
1)(1 14 Sale 904
1)214 tin 1304 94
106 1064 Aug'Ob .. 106141.07
1913 J-J
Refunding g 4s
elan So lat ext 63
.1913 ,
1/1.6 10214
102le J'Iy 09
Coll trust Somali 4a 1910 IVI-N
1011
/
4103
90 .
be
• U7 J'ly'04
97 J'ne'011 ... 97
97
1024 10034 Alsy'07
J 48
97S
Registered
1919 M-S
1812 M-N
94% 944 16 944 941
61 -is
94's
Carb & Shawn See Ill Cent
1915 1111-N
031
/
4 Feb'09 .... 9334 933,
N 48
9414
Carolina Cent See Beab Air L
1916 M-N
1.134Aug'00
9314
048
931
/
4 96
Carthage& Ad See .N I0& II
1917 M-N
84 Aug9i,
/
4 95
1131
P 46
1918 M-N
Ceti R la I de N bee It(3 It& N
80 Sale 80
Chic 11. 1 & Pao RR 46..2002 M-N
814249 761
/
4 821
Con Bration Sty See Mo Pao
80
1161
/
4
Feb'09
.1'4'00
116
/
1
4
...
_
Registered
. 80
1154 116le
Cent of Ga Rll. let g 66-p11145 F-A 116
2002 M.N
80
991
/
4 991
/
4 934 .
/
4 1104 Aug'09
Coll trust gold 5s
/
41111
191371-9
1t. 8714 941S
1945 31-14 1101
Consol gold 6a
10838111%
113 Apr 936 ..
Registered
Bur(led R db Northern1945 71-11
89
sale
115
89
115
90
907
2 79
May'09 ... 115 117
Con let& col trg 6a....1934 A-0 114
1st pret income g 68„„p1945 cet
1201
/
4Mar'03 .
90 J'ne'00
Registered
Stamped
80
90
1934 A-0
111 Noy'05
CHU'& N W lstgu 58.11)21 A-0 108
78 J'ly'09
63
73
20 prei income g 58_ .p1945 Oct
84
1,1 & St L lat gu g 7s 1927 J-1)
84
9i1 lit et income e. Be alrunnes ____
754 Aug'09 .... 60
........
,
73
U. a. Iioveninient
U 8 2a °ousel registered.a93( ç.J
-J
U S 26 oonsol coupon....4193
-F
/191
U 8 98 registered
/191 C„.
U S 36 coupon
U 8 Na con small bonds../191'Q-F
192. Q•F
U S 4s registered
192 1)-F
U 846 coupon
U 8Pan Can 10-30 yr 28./i936 Q-N
Btu
High No
Ask bow
100% 1011
/
4 101122'1y'09 ....
/
4 101 Aug'09 .....
100.4 1011
102 Salt 102
102
1
1011
/
4 Bak 101 1e 1014 11
100', Nov'O.
116 117 116% 116/
1
4 34
118 110 119¼ Aug'Ob ...10041011
/
4 101 Man) ....
.Du1
A
•.
dillelliELLANEOlJa liON Da-Continued on Next Page.
Street Railway
Street Railway
92 Jily'09
Slat St Sty gen col tr g 66 1997 F-A
1061
914 84
Brooklyn Rap Tr g 56
/
4 10638 J'ly'09
1021
/
4108
1945 A..0
8134 92
4
.
1;11 814 891
Ref g 4s
48 J'iy'09
874.
2002
let refund cony g 4s
864 Sale 86
2002 A-0 48 .
/
4
J
4314 63%
10338J'ly'09 •
108 1044 Ply'09
,Bway&7tiiAvlstcgss 1943 5-0
Bk City 1st 001158.1016 1041 J.J 103%
1021
/
4105
103 1051
/
4
/
4 Mar'09 •... 9134 994
1021
Col& UtliAvlatgu g 54.1993 N1-5
/
4 100 J'ne'09
Bk Q Co&6con gug 66 1941 M-N
991
/
4 991
90
100 1021.
1024 100 Aug'09
103% 10334 13 1001
Lex Av & PFlstgugss1993 M-B
El 1st g 4-513 1960 F-A 1034
/
4 10(3
J3klyu
100 1021.1
Aug'011
104
Third
08
Ave
J'ly
RR con gu 4e200() J.J
Stamped guar 4-3s
'09
1930 F.A.
671
/
4
65% 721
/
4
10214104',
87¼ J'ly'09
0914 sale 071
/
4
Cent Tr Co cents Rimini._
0914 rit; 0314 721
86
Kings Co El 1st g 46.-1949 F-A
87
571
/
4
/
4
874
87/
1
4 '2 85
Third Ave Sty let g 68 11)37
88
Stamped guar 4s
/
4 109'-., J'iy'09
1949 F-A
109 1101
8734 88
108 1151
/
4
'00
Ply
82
/
1
4
A.ug'wt
Nassau Elea gu g 40
1951 J -J
83
•.•. 784 84
81
804 8014 864
N On By & Lt gen 4les _1933 J-J
8311 864
.
102 J'ly'00
118 Noy'08
Conn Hy& List& ref g4128'51 J-J
102 102% St Jos RyLtH & P lst g 56'37 li-N 101
1024 J'ly 9111
Stamped guar 4128
/
4 Nov'OU
1951 J -J 102%
108 1101
10138102', St Paul City Cab con g 56_1937 J -J
J'ne'01)
Den Con '1`r Co 1st g 56 1933 A-0
95
Tri•CityRydb Lt let sf 56.1923 A-0 97
99 Ply'MI
99
98
99
82 j'ly'09
Det United let con g 414s 1932 J.J
Underground of Lou 66.-1920
98 Apr'01)
83
814 85
994
98
98
Havana Eleo cense' g 56 1932 F.
92 Aug'0:.
92
89
89
/
4 844 17 73% 85
1933 J -J
844 841
94
92
446
83%
Inter-Met coll 44s
76
85
37
35
1956 A-0 8338 Sale 824
86
Income 66
6 22
371
/
4
1948
1044
Inter Rap__T 3.yr cony 06.1.911 M.N 104 Sale 104
84 Oct '08
103 10434 Union El(Chic) let g 56 1045 A-0
Internal Trao coil tr 48_1940 J.J
724 ?Piny'09
71% 721
/
4 United RRs San Fret 46 1927 A-0 7574 Sale 754
75% 37 72
79%
98 Mar'013
Manila Klee let & coil 68.1 53 M-8
84% Aug'09
85
United Rye St L let g 46 1934 J.J
844 88
*No price Friday; lateet tine week. 111Plat. aDne Jan ct Due Aur s Due may g Due J'no A,Dae 'ly /Due Aug oDao uut p Due ov s Option tieti•
Jaw)
•..•
AUG.
New York Bond
21 1909.]
HON UN
N. Y.STOCK EXCHANGE
WEEK ENDINA AtTirsT 20
zi
1-tkoe
Friday
August 20
Week's
.Range or
Last Sato
iteCOrd-----Continued-Page 2
Range
7i
Since
,c z2 January 1
457
BONDS
.1-"rice
.4,
N. Y. STOCK EXCHANGE.
Arid0
WHEIC ENDING AUGUST 20
•••• August 20
HutI
High No Low High Erie-(Con)
Ask Low
Chia Rock 1 & Pac--(con)
10434
102 Aug'08
aj
MOO Ok & 0 gen g 55.o1919 J
dS
go
uisd&o2
W
e 1st ret 58 1937 2-2
111.
1 Ill
111% 2 111 1111
/
4
1052
Consol gold 5s
1937 F -A
103 105
1923 A-0 105 106 105 Mar'Olf
Kook & Dos M 1st 5s
F- A
General gold 5s
Ohio St i & N 0 See III Cent
Terminal 1st gold 58-19
94
4:i M-N
Ohio St L & Pitts See Penn Co
Regis $5,000 each 1943 M-N
1291
/
4 Aug'09
/
4 1291
128'.4 1307
.
Mid ItRot NJ lstg6s 191() A-0
Chic St P M & 0 con 68.-1930 J
93 Doc'03
/
48.193o J-D 02
Cons 68 reduced to 31
Wilk & Ea let gu g5s 194.
.? J -D
12812 J'ly'09
/
4
1281
/
4 129% &N,& Ind 1st con gu g 63_1926 J •J
Ch St P & Mum 'tag 68 1918 M-N 1281
1'28
12938 May'01,
129%129% Erie & Pitts See Penn Co
Nor Wisconsin 1st 68 1931J J
116
10
116% 116¼ 1161
/
4
11588 119
Evans di: T 11 1st cons 66 1921 J -J
St P & S City 1st g 6s 1910 A-0
11'21
/
4 Apr'01)
112 1121
/
4
let general gold 58
Chic& West Ind gen g 6sq1932 Q-II,
1942 A•fa
94% 9414
1952 .1. J
941
/
4
94% 1)8
Mt Vernon let gold (38_1923 A•0
Consol 50-year 4s
Sun Co Branch let g 53.1930 A•0
Chic & W Mien :see Pere Marq
Choo 0& Gulf SeeCRt&P
Wargo Si So See Cii M & St P
113 Oct'00
1
48.-1937 J .J 101
I. lint& Pere hi See Pere Mar
Oin 11 & 1) 20 gold 4/
1091
/
4 Aug'09
/
4 Fla C& Penin See Sea Air Line
95 1091
Cunl)& 1 1st gu g 5s 1941 vt-N 105
Find & Ft W lfst gu 4s g.'23
Fort St U D Co let g 4123.1941 J
93
70 Aug'08
Cin 1 & W 1st gu g 48.1053 J •J
Ft W & Den 0 lst g 68
1921 J -D
9613 Jan '119
'10; Lot W& Rio Or let g 4s 1928 J -J
Ind Dec & W let g 58 1935 J -J 105 110
*
1071
/
4 Dec'02
1935 J -J
let guar gold 58
+al Har & S A See So rac Co
0 I St L & C Nee 00 & St L
Tal H & H of 1882 1st 58.1913 A-0
Oin & U See 0 C 0 St L
Georgia & Ala See Sea A Line
Clearfield & Mali See B R & P
Ga Car & Nor See Sea A Luke
08%
98¼
98%
Clev Cm C cfsst L gen g 48 1993 J-0
98% 6 971
/
4 9818 ueorgia Pacific See So By
94; 95
/
4 1 941
Cairo DR'1st gold 48
941
/
4 941
1113b J•J
/
4 97
Gila V & Nor See So Pao Co
941
/
4
Ciu W & DI Div 1st g 48 1991 J -J
95
94
9414 Aug'Ou
Grotty & Oswegat See N Y Cent
95% 96
St L Div 1st col tr g 4s 1990 M-N
96
92
1 951
/
4 97% Grand Rap & Ind See Penn RR
Registered
91 Oct '07
1990 11-N
Gray's Pt Term See St L S W
96
92 Feb.Ob
Spr & Col thy 1st g 48-1940 11-S
Gt Nor-C B & Q coll tr 4s 1921 J •
04
98 Sop '06
W W Val Div 1st g 43 1940 J • J
Registered.h
1921 Q•J
1057
.
01St L& C consul 68_1920
100 Apr'00
106 106
Greenbrier By See Che8 Si 0
98%
1st gold 48
98% Aug'09
.fc19313 (•F
9812 98% Olaf & I 1 at ref tg 58 51932
98
Registered
981
98 Aug'oU
/
4 LI an & lit Jo See It Q
/c1936
98
1011 15 May'fiu
(An S & CI con 1st g 55-1925 -J 109%
109%1091
/
4
ousatonlo See IC Y N 11 Si /1
111 12.Ply'01)
0(1 0& 1 conso178
1111
1914 J-1) 111
/
4 1111
/
4 Hock Val lstconaol g4128 1999 J -J
Consol sink lund78
1914 J -D
Registered
J -J
General 0011801 gold 08 19:14 J -J 12734
130 Nov'Ob
Col Si 11 V 1st ext g 45-1
19
94
98
° A-0
Registered
1'134 J.1
Cu!84 Tol 1st ex 48
11155 F-A
Ind 131 & W 1st pret 46.11140 A-0
114 Ply'08
Houst E Si W Tex See So Pee
0 lint& W 1st pt 5s...01.112t, t/-1
Roust 84 Tex Cen See So Pac Co
9334 Aug'09
Peo & East 1st con 48 1040 A-0 94
/
4 I 11111018 Central 1st g 48-11)51 J -J
921
/
4 961
Income 4s
59¼ 61)
b 40
60'8 A. Registered
60
•tor
1951 J -J
Olev & Marietta See Penn Ith
1st ret 4s
5 51-N
Olev & Pitts liee Penn Co
1st gold 312s
1951 J -J
Col Midland 1st g 4s
84 Sale
7 80
85
34
87'-,
1047 J
J-J
1951
195Registrd
Coloraff.)& Sou 1st g
15
115
119
us
1)8
r -A
9714 1311
Extended let g3128
1951 5.0
99 Sale 01)
Rotund & eat 4/
1191
/
4 59 9634 100
1
48
1st gold 38 sterling
1935 M•N
1951 M-S
Colum & Ureenv see So By
Coll Trust gold 48
1952 A-0
Uol Si Hoot Val See Hook Viii
A-0
Registered
Col & Tol See Hock Val
L N & Tex gold 46 -95
2 31-N
1°53
Cot Conn &'Perm See N & \V
Regletered
1953 51-N
Conti & Pas 10,
2'8 1st g 48.11/43 a •0
Cairo Bridge gold 45
9 3 J -D
1950
95 Jan'09
05
(Juba RR let 50-yr 5 g_ .1952 J -J 100
95
LoutavDtv&Term g31-0 1953 -2
ak&Otbo Ae4 C AL
Middle Div reg 5s
1921 F-A
alias 84 Waco See M
Omaha Div 1st g 38
ciL
195
21 F•A
St Louis Div&term g 38 1951 J -J
Del Lack & Western/
4 J'ly
Morris & Essex 1st 7s 1914 VI-N 111 115 1131
113 14 114%
Registered
1961 J -J
J-J
116%117%
11115 J-1) 1151.4 115% 116% J'ly
1st consul guar Is
Gold 3123
127 J'ffe'05
.1 • J
Registered
1915 J-1)
Registered
N4 Ply'09
9:338 0614
'2000 J -D
1st ref gu .• 3/
Spring Div 1st g 31
1
48
9
'5
51
11 J -J
1(9
/
48...11
119
1U 119 121
119
N Y Lack'
Western Lines 1st g 48..11151 F-A
AtW 1st 6s 11121 J -J
1 1 i J'ly'09
Belie-c' & Car let 6s
1101
/
411k38
Construction 58
1923 le•A
1923 J
2 11914 100%
10J34 100%
Carb Si Shaw 1st g 48 1932
Term 84 Improve48- 1923 ill. N
/
4 Feb.03
1021
Warren 1st ret gu g 3/20 2000 F•A
Chic St L & N 0 g 58 1951 J-1)
120 Diay'09
1211 122
Del & Dud let Pa Div 78 1917 .8-S
Registered
1951 J•D
149 Aug'01
J -I)
Registered
Gold 31
1'117 II-S
/
48
102 Aug'09
101 103
1st &ref fis
Memph Div let g 48_195
1943 M-N
951
1 J -D
11)61
106
/
4 38 1110 107%
St L Sou lst gu g 48
10-yr cony deb 48
191(1 J
1931 M-S
10315 10338J'13"011
let lieu equip g 4/
101 103% Ind 131 & West See0
11122 J -J
1
48
84 St L
105 1011
/
4 Aug'09
.1.2
Alb & Sus cony 31
Ind 111 & Is let g 45
97 107
/
48
11)46 A-0
1281
/
4 J'ly'09
Bens At Saratoga 1st 78 1921 vl-N 1281,
128141285 I nt & Great Nor lst g 68_1
195
9111
0 M-N
Del ltiv lilt Bridge See Pa 1th
2f1 gold Os
1909 II-S
97% Sale 07%
Denv & it Or let con g 48.1930 J.J
3d gold 48
96
97's
98¼
1021 M-S
Consol gold 41
104 J'ne'00
/
48
Iowa Central let gold 58 1938 J-1)
103 106
1936 J -J 104
Improvement gold 58 1925 J-1) 1021
10:1 14 J'ly
Gold 4s
/
4
1014 103¼
.
1951 NI1$5.
7 681t 95
1st & refunding Is
06 217 02% 061
/
4 iz al A & G It See 1,S&Xt.
10351 F-A
98 Feb'OS
Rio (Jr Julio 1st gu g 58 1939 J -D
Man Si Mich See To! Si 0
75
78 J'ne'01)
Rio gr So 1st gold 48
KCFtf3&M SeeStL&S
80
1941) J -1
78
85 Alar'Ob
Guaranteed
1940 1 • J
KC&MR&B SeeSLL&SE
951
/
4 1/53.Aug'01.
Rio Or West lia g 48
111311 J -J
95 100% Eau C & Pacific See 11 K Si T
84% 85/
1
4 .1'ly
Mge and col trust 4sA 19,11, A-0
Kan City Sou 1st gold 38_1950 A.0
87
83
:fib
97 Jan 'u2
Utah Cent lstgii g 4s al917 A-0
Registered
1950 5-0
Des 1,l & I'll) see 31 &
Bet Si impt be(w i) Apr 1950
110 Sep '04
Des Mot On lty 1st g 58_1917 M-N
Kentucky eellt bee L a N
95
1995
-Ply
J
•D
'Oil
1st
hen g 48
115
113
bet & Mack
iCeok Si Des Mo See It I& l)
91
94
112 J'Iy'01)
11195 J
1.12
88
Gold 48
Knoxville & Ohio See So By
Detroit Southernake Erie Si W let g 58-1937 J -J
811
/
4
81 Aug'09
82
80
Li 28 gold 513
Ohio Sou Div 18t c 4s 1941 M-S
J -J
111¼ J'ne'09
/
4 116
1111
North Ohio 1st gu g 56_1
Dul Si Iron flange let 58-1937 A.-0 112
1°
94
45
1 A•0
11214 106 15 .3.1tir'98
Registered
1037 A-0
LSho& MlchS See N Y Cent
Leh Val N Y 1st gu g 41
1916 J -J
20 68
/
48 1940 J-J
Registered
Dul Short Line See Nor Pac
J -J
1101
/
4 Ireb'Ob
110151101
/
4 Lehigh Val(Pa)cons g 48.2
Dul So Shore & Atl g 58 1937 J-3
10
903
4(
Lett V Ter By 1st gu g 58 1941 A-0
um
Registered
1:
1 =,
:12121V &/
l
et 6
tYe5elis,
1941 A-0
115 Aug'09
1121
/
4 115
Elgin Jol & East lsti 58.1941 M-N 115
Leh V Coal 001st gu g 58 1933 J -J
Elm Cort tS No See eh& N Y
Leh Si N 1 1st guar g 48 1945 11-S
991
Erie 1st ext gold 48
/
4 Mity'08
Registered
1947 VI-6 101
11.8
1067
.
10614 J'Iy'09
20 ext gold be
1051
/
4 106%
El C & N let p168
1910
1°
94
15
4 A-0
103% 105 1041
/
4 Apr'011
3d ext gold 4/
104/
1
4 1041
/
4
1923
1
4s
Gold guar Os
1914 A-0
107 15 Aug'09
4th ext gold 58
106 1074
, Lou & Hutt ft See Cent ot1N.1
1920 A-0 107;
4
:18
97 JIM 119
5th eat gold 4s
97
97
Lelt Si Wilkesb Nee Cent of NJ
1928
1
4 1261
/
4 124¼ Aug'09
1st consul gold 7s
122%1251
/
4 Leroy Si Caney Val See dio P
1920 Ni•S 125/
121 124 Aug'09
1st consul g t
122 121
1 78
1920 11.5
Long Dock See Erie
/
4
Erie 1st con g 4s prior 191)6 J -J
/
4 891
881
/
4 891
tfu /
1
4 11 85
Long
91
con g 511.51
19
93
t,
1
Registered
861
/
4 May'09
86; 861
/
4
1996 J -J
1st consol gold 4s....,.51931
78
lst 00118°1 gem lieu g 46_1006 J -J
7712 79
7834
6')', 80
General old 48
Registered
851
/
4 Feb'07
Ferry gold 41
1996 2.2
/
45
1922 M-6
Penn coil tr g 4s
871
/
89
4
871
/
4
Gold 48
7514 Ott
1951 F-A
134,
32 J
50-year cony 43 A
881
/
4 87 63
1953 A-0 8612 87; 86%
Unified gold 48
M-S
8111
/
4
do
Series 13 11153 A-0
79
781
/
4 77
/
4 80
33 371
Debenture goLd 5s
1934 J-D
Bull N Y ..t, Erie 1st 78 1916 2-1) 116%11734 116 J'ly'09
Guar ret gold 48.
115 116
19411 nA-S
Chu;& Erie 1st gold 5a 1982 M-N 11588 11615 1157
.Ply
liklyn Si Mont lst g 68-1911 M-S
115%117/
1
4
Clev & Mahon Val g55 103 J•J 110
121 Dec'08
1st 58
1911 M.
127 J'ne'011
Long Dock consol g 68 1935 A-0 1261
N IB&MBletcongOslti3o A-0
126 1281
/
4
/
4
1st
cur
lift
gu 66 1922 M-N
Coal&
114 J'ne'09
N YA, R13 1st g 58
1121
/
4120
1427 M-S
Dock & Imp 1st cur 68 1913 J.J
Nor ShB 1st e,on g gulls 01932(
106 110
106¼ 110 Apr'09
24
108 Mar'011
N 7& Green L go g 68 1946 MN 105
Louisiana & Ark let g 58.1927 M-f3
108 108
-*a
Rid
106
90
114
Week's
Range or
Last Sate
Range
Sines
January 1
A sk Low
High No Low ft Loh
1051, 107%
1023 1054 3lay'09
10014 Dec'02
90
Sale uo
92
90
1141
/
4 Dec'06
100
1011
/
4 May'09
1041
/
4 108% 1041
/
4 Aug'09
114 114
11.4
[011450214
:01 1051
/
4
1 10912 115
115 1151
/
4 115 15Ply'09
103;
103% Augq111
108
114 A pr'05
115 J'ne'Oe
112 115%
103 1041
/
4
105 ilar'95
8434
115 1151
/
4 115% Aug'09
85% 86,' 86 J'ly'00
97
97% Sale
•.4.
J'ly'09
97%
1177
.
11414117¼
85
88
97
99
9g1
/
4 256 971
/
4 991
/
4
971
.
977
/
4 911
961
/
4 971
/
4J'ly'09
97
97%
107; 106
10 104 109
106
105 1001
/
4Sep'08
981
/
4 100
9834 May'011
138% 98%
99
117
/
4 Feb'09
1)91
/
4 991
991
/
4
106
104
104 Apr'09
1033
.104
107% Apr'07
99% 1, 9108 1011
9934
/
4
94
91
11214 941
/
4
9144 Aug'08
'
/
4 March,
931
94%
80 J'ly'00
80
80
1021
/
4
11)01
/
4 1021
10213 Aug'00
/
4
149
J'ne'01)
99
101
101 J'ly '0:f
99 10138
97 May'07
100% 100 Apr'09
1)914100
8b1
1
4J'ne.09
/
4 89/
89/4 92
105
123
79 Apr'01,
Yk;
79
7914 Dec'08
711
/
4 89
901
/
4 Dee'08
881
88% 10118 tact '119
100 Nov'ou
10034 May'01)
9414
100%11)04
119
121 FelPlef
121 121
1+13 Idar'09
06 100
118
08
.
1103
119% Aug'09
11834 120
1184 J'ne.01)
118% 119
117
1)0 Feb'u9
110
90
92
9914 091
/
4 IOU Mar'08
98 J'Iy'Ob
9934 Sale
9334
94
991
/
4 98 J'ly'09
98
100/
1
4 110; 1091
/
4 Aug'09
1004
100% Aug'09
47" 48 J'ne'09
/
4 Aug'09
10(314108-14 1051
77 Sale 77
771
/
4 15
96
9812
109 112
85 1031
/
4
48
50
10512 1111
/
4
77
82
75
/
4 75% 7434
741
96 71% 751
/
4
03 Oct '00
101% Sale 100% 1018
.2u7 100%1018.
1141
/
4
107
114¼ 11534 ii 112%110%
107 Aug'uL•
[07 10912
113 J'ly'Mt
1121
/
4
/
4 114.1
1073
.Aug'09
107%
107 107% 108 Get '08
07% 1171
/
4 9714 Ply'00
11534 Ply '011
115;
10111
/
4 Oct '91)
109 J'ly 'fib
lt)834
9634 1)7% 117 Aug'oU
1021
/
4
1011
/
4
'
Jan'00
11374
10514 Jan'00
112
98%
978
.98
1111
07
061
/
4 98
105%
971
/
4
112
101
106
103 108
10234
95
96
1018
.De0.08
/
4Nov'Uti
1101
105 Apr'O'i
109 Nov'Oo
96 Aug'09
Aug'Ob
1+71, J'ly'Mt
1001
/
4 Apr'0,
991
/
4 Oct '06
1f6 Aug.0b
1041
/
4 Duu'011
9814 Aug'09
1061
/
41081
/
4
b7
98
116% 118%
Ai- 102
116
97
110
112
96
971
/
4
10014100¼
116
*97
97
91f8
.
......
......
96
99
MISCELLANEOUS BONDS-Continued on Next Page.
Gas and Electric Light
Clio; and Electric Light
Atlanta C+ L Co lst g 5s...1947 J-D 102
NYGELH&Pg 6s...1948 J-D 10:314 104 1037
. 1047
. 4 1001
/
41047
,
Bklyn U Gas 1st con g 58 1945 M-1,1 1073
.sale 107% 107% 2 1071
Purchase money g 48-.1940 F-A 861
/
4 108
/
4 88% 861
/
4
8612 8 831
/
4 867
.
1947 A-0 06
/3unalo Gas 1st g Cfs
Ed El III 1st cony g 513-11)10 M701 73 Ply'09
1001
100% 1001/Ply'09
/
4 1007
.
1923 J -J 101
Detroit City Gas g bs
1995 .112/
1st consol gold 58
1
4 1(7
101 Aug'00
;1! ki
110 112
1114 1111
/
4 J'Iy'00
Det Gas Co eon 1st g 6s 1918 F -A 100 102
N Y&Q El L&P 1st con g 5819:30
9538 Sep'08......
9814 May'09
97
9815
L.51 Y let con g 6s 1932 M.
N Y & Rich Gas let g 58.1921
116 Mar'08
1
4 J'ly'00
07/
9712 971
100
/
4
1949
58
J
(*as& Elee Berge.° c g
Pat Si Pas Li& E con g 58.1941) 6A- S
611
/
4 Oct '01
104% Nov'05
..
Gen Electric deb g 31
81
/
48-1942 F-A
827 81
Peo(las Si C 1st con g 66 1943 A-0 119 120 12012 J'ne'01)
1 80
81
84
119 121
1917 J-D
10-yr g deb 58
153 154
55
Refunding
gold
1947 11-S 10314104 103/
15434 22 136 1551
1
4 J'ly'011
/
4
102%10334
Or lisp 0 L Co Jet g 69.-1915 F -A
101 1074 Dee'00
Ch(I-L& Cke let gu g 58 1037 J -J 103% 1041
/
4 1041
103 1041
/
4 Aug'09
/
4
Hudson Co Gas 1st g ba 1941) M-N 104% 1051
/
4 105 J'ly'09 .... 105 105
Ind Nat Gas Si 01130-yr 58'36 M-N
.
/
4 Aug'09
941
86% 94.7
94
Kan City
o)Gas 1et g 581022 A-0 96
LOU May'09 .... 100 100
Con G Coot CS let pig 58.'36 J -D 1021,103 102 May'09
101%l03
Kings Co
L 84 g be 1937 A•0 103 105
Mu Fuel Gas let gu g 56.1947 m-N 1011
l01%101
10134 .Ply'09
/
4
Purchase money 6s
1997 A-0
1171
/
4 1171
Syracuse Lighting let g 5s.'51 J -D
/
4 1171
Ilif'. ,'tte'09
991
/
4 99%
/
4 1 110 118
997
Ed El 1113kn letcon g 48 19311 J -J
Trenton G do El let a its 11141 PA- itf
88 Sep '08
110 May'05
Lac Gas LotSt L lit g 68 61910
10314 103/
1
4 10314 1031
Union Eleo L& P 1st g 58 1932 11-16 100
/
4 3 10234 lob
96 Jan'0
Ref and ext let g 58
1934 A-0 1(101411)1 100 Ply'09
100 1011
/
4 Utica El L25 1' 1st et g 58 1950 J -J 102
Milwaukee Gas L let 48-1,927 M-N
91% 92
011
0114 1124 Westchester Light'g ii 58.1950 •D 1031
/
4Ply'09
/
4
102/
1
4 102%
102's Mar'09
No price Erutay; latest Dud and tucked this WHOK.it One 'tam
a, Due ..pr e Ode .8..1 a oue il c 1358 tug u title 00t q ante ,,eo a Option. dab*
New York Bond Record--Contimadd--Page 3
45S
iVoL. Lxxxix
-a
HON Os
Range
Week's
Price
=
since
Range or
N. Y. STOCK EXCHANGE
sale
Last
20
August
.1a,
4
WEEK ENuiNo AUGUST 20
110
ton,
Low
H
Btu
Ask Low
Nign No Low Hto n N V Cent O. .1 11,-(Contotnea
Hu,
AIM Low
100 1004
4 Aug'00
/
1001
Fioil& Mal 1st gu g 43..1991 it-S 10014
Louisv db Naahv gen g 60 1930 J-D 11014 Sale 1164 11014 1 1154 1174
105 kiet '01!
9430
117 May'09.
110 117
NJ Juno it gu let 4s...1986 F.A
1937 M-N 11034
Gold 58
964 Oct'091'
48...2000 M-N
/
N I & Harlem g 31
1940 J -J 10038 Sale 10014 100% 2( 99% 102',
Unified gold 4e
Aug'01!
100 May'011
100 100¼
19411 J •J
N Y& North 1st g 53...1927 A-0 109 113 10714
Registered
100 Sep '08
105
ne'08
1993 A-0
g
N Y& Pit 1st eon
1910 A-0 102
Sink fund gold 68
-0
A
J'ne'09
4
4
/
/
5:3.1910
1101
1101
M-N
g
Mont
gu
&
1st
110',
Nor
4
1683
1931
Coll trust gold 5s
4 131'-.,
/
iei1
'09
4 1111., 2 111 111¼
/
1111
Pule Creek reg guar 68.1932 J D 124 130¼ 131', Jan
191). - D 11114
ER & Nash 1st Os
110 1 tl
4 110 Aug'09
/
4J'ne 09
/
1071
107.4 10734
R W.&0con latext5s•41922 A-0 109 1111
L Cin & Lex gold 4123 1931 M-N
Jan '01..
105
115%
F-A
'Ott
9J'ly
4
1253
1253
J
It
5s...61915
g
1930
gu
-J
20
124%
&
125%
°awe
N 0 & M 181 gold 6a
120 Jan'09
120 120
wdb or R 1st gu g 58.1918 M-N 10634 Ill
1930 -J 119
N 0 & M 2t1 gold tis
103 Sep '08
10714 Aug.06
Rutland let con g 41
....
48..1941 J -4
/
"Pensacola Div gold 3s 1920 M-8
934
9312 1 91
934
93.2 94
May'07
117
1144
M-13
0g&
1st gu 43 g1948 -J
1921
St L'Div 1st gold 6s
90% 92
92 J'ne'09
4
/
911
75
71 May'09
Rut-Caned 1st gu g48.1949 J-J
71
1980 M- S
71
20 gold 38
115 115
115 Feh'09
-4
J
1
'09
,
95
J'ly
95
954
M-N
&
Law
AAR*
95
eat
1996
St
5s.
g
11155
961
4
/
48
thy
Cm
&
Knox
Atl
125 Feb'ob
'06
118 110
2it gold 02
1990 A-0
tti [lox & Nor lat. g 5s1941: J -D
10314 Dec'08
101
110 Jan '09
110 110
Utica & Blk Rtvgu g 48.1922 .1.
Heniter Bdgelst s f g 68.1931 31-8
93". 11 93
915%
Sale 9314
4
/
931
'09
J'ly
975
J
-J
0714
Lake
96
4
Shore
983
gold
3
8....1997
4
1
/
1987
,
48
9771
gold
Cent
Kentucky
924 944
4-Ply'09
1
92', 92/
103 Deo'08
4
/
Registered
1997 J-D
481945 M-11 1051
/
• L&N&Md,b1 1atg41
9514 3 94% 97
94%
90 J'ly'09
894 90
88
1928 11-6 9434 95
Debenture g 48
1)1'.
„L& N-South M joint 43.1952 J -J
05 130 93 9714
9478 Sale 9434
4 J'ly'09
/
25.year g 43
112%11614
1931 M-N
'N Fla & 1st gu g 5a. .1937 F•A 11312114 1131
Ka A & G It letgito5s.1938 J -J 11l,
N&C Bdge gen gu g 412781945 J -4 104 106%
Oct '07
1094 0.000
109 1091
4
/
Mahon C.1 RR 1st 58..1934 J.4 1134 118 108 MarOb
Pens & AU 1st gu g 68 1921 F- A 110.4
100
114¼ 115', Feb'ull
Pitts a, L Erie 2d g 54.a1928 A-0 102
1121.115 4
S & N Ala con gu g 58-1936 F-A
130121304
1304 Jac
1204
954 Mar00
94
95's
Pitts MoK & list go 03 1032
t& Jett Bilge Co gu g 4s 1945 M-8
12612
J
-4
guar
2tt
63
1934
L
143
See0
&
A
N
L
1114
•
J
J
hicKees&
BY lstg 6s 1918
1/1 ahon Coal See LS&MS
101 101
101 Feb'09
2 9214100
99
99
99
Mich Cent 1st consol 68 1909 M-S 110
anhattan Ry consol46 1990 A-0
104 Apr'05
Se
1990 4•0
1931 M-8 113%116 114% Oct 08
Registered
112
'ne'06
J
119
lu
4
/
1001
Sale
100
100
A-0
Registered
1931
99%10034
Stmpd tax exempt 1900
9934 100/
4 10014 Apr'09
1
48
1940
& B V bee N Y Cent
4 Nov'00
/
1001
89 May'011
itegisteree
82
89
1940 J -J
Flex Cent cone g 48 trust rects
921, 10 92% 954
4
1
/
'09
92.
J'ly
AO
931
27
27
4
/
26
9234
4 281
/
211
4
/
20-yideb 48 J PM reo 1929
1st cons inc g 38 trust recta
J'ne 118
251214)9
26
24
2034 2514
L & S 1st g 3128
1051 11-S
2d cons trio g 3s trust recta..
4
/
914 031
J'ly'09
J"09
M-N
91
SO
9314
80
3128
80
g
1st
1952
48.1977
g
con
Flex Internat 1st
80 Fe '08
Bat C & Stur let gu g 38 1989 J-D
1977 M•S
Stamped guaranteed
100', 1024
4 Aug'09
/
10038 May'110
NY Chic& St L 1st g 4a 1937 A-0 101 1014 1011
100%lot..
191,, J •
Flex North let gold 0s
4
/
100 1001
10012 100 Aug'09
itegletered
1937 A-0
Fitch Cent See N Y Cent
91% 94
4Ply'09
/
921
Debenturee 48
• 1931 M-N 88 92
Mid of N J See Erie
101 1044
4 102
/
102¼ 1021
-J
J
West
Shore
4a
let
gu
2361
N
&
Chlo
See
W
&
6
L
1014 17 100 1034
101
Registered
2361 J-.1 10012
&tii&North See CU M & St I, •
1324 J'ne'09
13214133', N V & Greenw Lake See Erie
Minn & St L let gold 7e 1927 -D 133
'07
Jan
118
liar
1083
&
V
See
N
V
N
Hue
4
&
C
A•0
6s
gold
1921
Pacific Ex 1st
10134 May'09 •••. 101% 1034
Y Luck & W See I) do W
South West Ex lat g 73 1910 J •D
1044 Ply'09 •... 109 1114 N YLE&W See Elle
1934 31-N
1st consol gold 55
4
4
851
85'.
N
& Long Br See Cent ot NJ
4
/
Y
851
841
854
4
874
M-8
1st and refund gold 43 19411
4 1331, 81 l33% 189
/
97 Apr'00
94
91
N IN 11 & H-Conv 0s 1948 J.J 138% Sale 1381
Des Al & Ft D lst gu 4s .'35 J -J
4 108% bil 975,109%
/
Cony deben 348
1 156 -J 1074 1084 1081
- N
Minn & St L gu See C Itdb
4 Deo'ii
/
1181
1161
2
4
/
99
80
991
4
/
31-N
100
R
Housatonic
09
con
g
-J
J
58
1937
11 S1P&SSMcong4intgu'38
107
107 107
Aug'09
'09
J'ly
99
99 99
984
N it & Derby con oy 58 191b
M S6 hi & A 1st g 4 int gu 1926 J -J
&
I
N
North
II
SeeNYCito
&M
PM
St
See
Minn Un
99%
1 98
99
99
99
98
18
101
1004
11.8
101
100
W
ref
98%1014
NYO&
g
1st
J•D
4s..g1992
Mt) Kau & Tex let g 48 1990
101 12 J'ne'00
6 83% 8834
88
894 88
Regis $5,000 only
g1992 31.8
gi990 F-A
2d gold 48
May'00
1074
100
1044
Put
Y
See
N
1004
&
N
M-N
IC&li
1944
1st ext gold 53
11 83% 87% NY&RB See Long Island
86
2004 31-13 88 Sale 86
tat & refund 48
4 3:i 904 9378 N Y & W Sea Erie
/
911
4 91
/
9070 911
1936 J -J
Gen a f 41
48
/
Apr'09....
88
88 8912 N Y Tex & M See So Pao Co
A-0
2001
104 104
St L Div 1st ref g 48
104 rne'01)
4 Mar'09
/
1091
Nor & South let g5s
1004110
1941 M-N 108
127 128
Dal Jo Wa 1st gu g 5s 1940 31-N 107 1074
127 J'ne'09
93 Apr'08 ...• 93 93
95
Norf & West gen g Os
1931 11/141 126 128% 129
129 129
Kan 0 & Pao 1st g 4s 1990 F-A
Mar'09
120
'09
J'ly
F-A
11.3
114
&
113
113
Improvem't
1141
g
4
/
ext
A
06
•O
1934
127 1284
310 K Jo Is 1st gu g ba 1942
J'ne'09
109 1094 Aug 01)
108 112
New River 1st g 6a
1932 4•0 12s 129 1284
1942 M-N
7, IOU
100is
M. K Ok let gu 6s
78
107
1 100 110
N & W Ry lst con g 43 1996 4-0 99% Sale 87 J'ly
'09
97
31 K & Tot'T lst gugt38 1942 11-8 108 1114 107¼
97
Apr'09
97%
A-0
1104
Registered
1104
1101
4
D
J
1996
Aug'01)
SherSh& bo lat gu g 5E1 1943
95
0
933
93%
Ws
,
Xi)
•
J
108
J
4
108 111%
Div'l 1st I Le, gen g 4s 1844
9
4
/
3
31
Tex & Okla latgug53 1943 di-13 107%108
'tiff;
1034
il•
'
103
10'2
1024 Sale
113 1,13 J'ly'09
113 110
10-25 year cony 48
1932 J
eto Pacific 1st eon g Os _1920 3I•N 112
84% 93
94 Aug'09
914
91%
7
1017e
10114
1024
4
/
J-D
1011
C
Pocali
4
/
&
1001
102%
C
Joint
48
1941
109 r 00'05
Trust gold 58 stamped a1917
4 Feb'07
/
1041
C C& T 1st gu g 5s
1922 J.J 105
a1917 biRegistered
4 Aug'01/
961
.9414 9812
4 102's Aug'Uli
/
1021
101 10334
Soio V & N Elátgug4s 1989 31.-14 9114 97
1920 10-A
let coil gold ba
8314
83
lit;
2
/
831
83
Illinois
78%
North
M-8
See
854
Chi & N W
1945
40-year gold loan 48
9012 J'ne'09
4 96' North Ohio See L Erie IS W
/
961
95%
1938 31.N
13e1 78 extd at 490
4 80 10234104
/
10314 Sale 10272 1031
1)3% 9614 96 is Aug'OU
89
954 Nor Pac-Prior hen g 48 1997 Q
Cent Br By 1st gu g 46 1919 11 -A
101 103
1024 •PlY'
99
89 Mar'09
Registered
89
91
4•J
1
1997 /
Cen Branch U P let g4s 1948 -11
4 L. 73
743
76
73%
4
1
74'
4-F
1
110 blar'05
General lien gold 38....a2047 /
Leroy& VA Lletg5s 1920 J-J
73 J'ly'0.
7234 74%
4
72
'09
100%
4
/
1001
A
IfRegistered
4
910
-F
4
1
/
100%
a2047
46.1038
g
07.24'ne'u.
Pao It of hio 1st ex
116
97%
97
'09
J'ly
J
113
D
J
11212 1134
St Paul-Dul Div g 4s....1996
2d extended gold 6s 1938 -4
11014 1104 1104
1104 112
Dul Short L 1st gu 5a..1910 M-S
5tLIrM&SgenCOflgbslU3l A-0
1114 11034 hlay'00
1104 111%
C B & Q colt tr 4s See Gt Nor
Gen con stamp gtd g 581931 A-0 110%
4 1 120 121
/
1204 1201
e
8b7
e
887
887
4
1
/
0
881
st, P & N P gen g 68....1923 F-A 1194
86
11034
Unified & ref gold 48 19211 J -J
116 1204
115 May'Ou
4 69% 89% 89% 24 881
/
81/11
4 91
/
Registered oertitlo's..1923 (4. F 119 120 1174
My* & G Div 1st g 48 1933 M-N
1
J'
3"
07
1124
b'-A
1074
Apr'00
NI-8
Paul
..
&
St
Dul
let
68-.1931
Verdi V I & W 1st g 58 1926
Basy'09
4
1043
104 104%
12
104
98
Dec
'00
2d 5s
11117 A-0
MobJ db K C lat cons g 58 11)53 -J 12214
4.1'17'09
/
971
9712 tie
...... 98
4 1 119 4125
/
12914 1221
1st consol gold 4s
1908 J
blob & Ohio new gold 68-1927 J -D 117% 1181
Jan'UV
924 924
9214
96
944
117%
4
/
J'ne'09
117
Wash
Cent
118
1st g4s
1948
let extension gold 83..41927
'09
J'ly
116
116
118'.
90 Ply'09 . 881491
89
Nor Pao Ter Co let g 6a 1933
. .1938
General gold 4a
1124 Aug'09
1121
4 112% Nor 147 Cal See So Pao
/
Montgom Div 1st g os..1947 F-A 11234 85
76
Iday'Ub
Nor Will See C St P M & 0
St L & Cairo coll g 48..e193U
90 101 Nov'04 .
1.
Nor & Mont See N Y Cent
1931 1.1
Guaranteed g 4s
Intl & W See C C & St L
M & 0 coil 413 See Southern
l./hio Riv RR See Balt Jo
Mohawk dli Mal SeeN IC&11
Ore & Cal See So Pao Co
Monongahela Riv See B & 0
Ore Short Line See Un Pao
&tont Cent b'ee St .P M & di
Oswego & Rome See N 10
hiorgan's La & T See P Co
OCF&StP
d'eaC&NW
W
&
L
Del
See
Essex
Morrie db
1094 112
110 Aug'09
110%1124 1.4ao Coast Co 1st g 58
1940 J-1) 11.0 111
Mash Chat & St L let 78 1913 J -J 110% 110% 1114 J'ly'09
11234 113%
soot Missouri See Mo Pac
1928 A-0 1124113 112% Aug'09
lat000nsol gold 5s
103 105
J'ly
34ja
109
ut
0:O
M-N
4
/
1161
Penn
121%
May'07
RR
J-J
lot
eel
11)23
real
46
g
1923
65
g
1st
Jasper Branch
10941094
M-S 10912......
1174 Mar'05
Congot gold Os
MoM LI W& Al 1st 6e 1817 J-J
i,
4
'0
y
tu
1024
Ma
12
4
1
/
4
/
1041
2
0
04
1
100
113 J'ly'04
Coneol gold 48
194.3 Ni-N
1917 J -J
T & P Branch 1st
„,iS 1041
4 1054
/
Consol gold 443
1948 MN 104% sale
L& N
Oa...
Nash Flor & She! See
d07 97 12 1034
,i
3;2
9
0
,
1
4
1
/
2
0
0
,
1
Sale
103
m-N
4
/
1021
'09
102
J'ly
Convertible g 3,as
103
1912
N at of Mex prior lien 4123 1920 J-J
0e34 100
80 85
84% 84% Aug'09
Convertible g /
4a
1
1016 J -D 984
1951 A.43
1st consol 4s
99 J'ne'u7
............
95 Aug'01)
Alleg Val gen gu g 4s...1942 NI-8 IOU
9276 96
95
4s 1957 I•J
/
Nat Rye of Mex pr 141
1f-A
Ut$
obi% 33 88 89
DERR& Egoist gu 48 g,'36
1977 A-0 894 Sale 88
Guar gen 4a
4104
/
104 J'ne'09 •••. 1031
4
/
Philo Bal& W let g 4s..1943 31-N 1031
New H. & D beeNYNH&H
102 Jan '03
............
97
Sod Bay & So let g 53...1924 -4
NJ Juno RR See N Y Cent
'00
104
J'ly
4
108
4
/
1001
106
Atl.
U
J
& Can gen 43.1944
Y BkIn & Man Boh See L 1
104 10)3',
4 2b 9112 94'. Penn Co-Guar lst g 4128 1921 J-4 104 104% 104 Aug'09
/
921
4Sale 914
/
911
N Y Cent & H Rivg3'us 1997 J -J
Is Al t4)000
104
1044 1041
4
4
/
103
J-J
93
Registered
J'ne'01)
4
/
911
924
1921
9334
1997 J -J
Registered
004J'ne'00
4 9612
1
9534 17 93/
Guar 314-s coil trust reg 1937 3I-S 91 12 92
954 Bak. 964
1934 M-N
Deben g 48
91 J'13"09
901
-.
4 914
/
91
91%
-A
F
128
15
coll
3
8314
tr
,
83%
Guar
83
837
B
ser
853
4
1941
F
83
-A
19924
0
Lake Shore coil g 31
9734
97% '2 9014 9734
9734 98
Tr Co certif's gu g 3isa 19/b M-N
811
4 82 Aug'09
/
4 8412
/
821
1908 F-A
Registered
90 Aug'01)
894 90
1 2b 824 84%
83.
83%
Gu 3128 tr ctfa 0
84
1942 4.0 8812
48...J998 F-A
/
Mich Cent coil g 31
90% May'011
904 90%
4
/
911
90
J-0
tr
J'ne'09
48
etre
3
D
Go
83%
82
1944
82',
F-A
8214
1998
Registered
98'.
4
/
081
2
984 911%
100
A-0
Guar
15-25 year g 4s
10034 100%
10034 J'ne'09
1931
Beech Creek 1st gu g 43 1930 J • J 1004..
CI & 2,Iar lat gu g 4128_1935 M-N 104 10434 110 Jan'06
102 Mar'04
1930 J -J 100
Registered
11034 Jan'09
0
1097
110%
-J
J
11034
&
CI
P
gen
gu
412e
g
A.14'2
ger
J
-J
107
2d gu gold 55
1930
109% Ply'09
10934 109%
Series B
1942 A-0 109%
4
/
Beech Cr Ex t 18t g 31
4951951 A-0 841
/
984 Deo'05
Series C 31
48
/
4 Apr'09
/
971
1948 11.19 95% 96
971
4 974
/
Cart & Ad 1st gu g 4s 1981 J -0
90 May'08 „
..
9578
Series D 348
1950 1T-A
Gouv & Oswe 1st gug 58 1942 -D
BONDS
,
N.Y. STOCK EXCH A NOR
Wititx ENDING AUGUST 20
PriceFri ay
August 20
Week's
Range or
Last Sale
S
Range
Since
January I
••••
.•.•
.••
000.
J:j
‘111SCELL kNEOUS BONDS-Continued on Next Page
Telegraph and Telephone
03% 9370 7 91% 96
94
Am Telep IS Tel ooll tr 48 1929 J-J
4Sale 103% 10514833 9'241084
1
Convertible 45.
1936 M-8 103/
2 98 100
99
09
984 99
MiclL State Telep. let 53 1924 F-A
88 Sale 974 98 131 98.2 984
Pao Tel& Tel let ba
1017
994 100 J'1V09
9841024
Weal Union col ti' our 66 1938 J -J
2 933 904
4 94
/
94
941
lid and real eel g 45,a 1960 M-N
93
26 84 964
9234
924 93
Cony 4s, Series A
1936 Al-N
100 Mar'09
95 100
Mut Un Tel 5 fund 6a. 1911 Pol-N 100
Hanutacturing 8, Industrlai
4 69 80
/
861
80314
85 Sale 85
Allis-Chalmers 1st 58
11130 J..41
1928 A-0 1013,10214102'. 1024 3 96 1034
Am Ag Chem bet 055
9814 99
9838
9834
98% 5 98
1915
Am Cot Uil ext 4 ias
102
10214 2P 9)310214
am klide & L let s g 0s 1911. 3i- b 10234
80
b 67
71
Amer Ice Secur deb g 66 1926 A-0 75 bale 75
955,100
9934 Aug'09
99
115
Am Sptrits difg let g00 1915 il-S
28 1044 1124
1944 A-0 tit% awe 11174 112
Am Tobacco 40-yr g Us
81
72 74
81
4sale. 80%
/
801
1951 F- A
4s
1 90% 924
92
92
92¼ 42
Am Thread let col tr 45 1919 -J
30911O8U1&
Due Nov q Daewoo
a.ntiaaketL aDue J an to Due Feb °Dile Aar 41D an Apr h Due 417 /2Due Aug o Due uot
Coal and Iron
Col F &I Co gen s I IC 58-.1943 F-A
Convertible deb g 58....1911 F.A
Or Riv Coal & C lat g 681910 A-0
Cleart Bit Coal 1st 3148...194u -J
Col Indu lat& coil 5a gu _1934 F- A
Contin'talC 1st51 gu 68 g.1952 F-A
Jett di Clear C & I 1st g 58.1926 J -D
C do 01st a f g 58.11/51 J • J
o:an
Pleas Val Coal let g f 58.1928 J -J
Pocah Con Collier ist a f 5s.'57 J -J
bundity Oreeic co g Oa....1944 J
1951 J.4
Tenn Coal gen ba
a1917 A.0
Tenn Div 1st g 08
J -J
firm Div let connol
Cali CM Co 1st gu g 08.1922 J -D
De Bar(1& 1 Co gu g 08.1911, F-A
Va Iron Coal &Colat g 58.1941. VI-8
11151 J -J
Tie tor Fuel 1st a t 55
*No price /friday; lateat
98% 2 94 1001
98%
4
/
87 87'.
97,9 87 J'ly'Ob
10214 Ape06
Apr'02
96
83
139 71
83 Sale 82
84'-,
107% Deo'04
107 May'97
10512 Deo'06
100%
105 Oct '00
88 89
8834 88 4 Ply'011
88
78 Feb'07
'2 1011
4 1031
/
4 1031,
/
4
/
4 1031
/
10341031
1084 109
108 108 Ang'00
1061
4 108
/
1074108 108 J'ly '01,
110 110
110 Jan 'Oil
105
103 Nov'Ob
95 100
11934 994 Aug'09
99
87
87 87
87
87
98
AUG. 21 1909.1
ISON
N. Y. STOCK EXCH A N(41,
WEEK EVIAN() AullusT 20
POOD CO-((iontinued)
Erie & Pitts gu g 31
/
48 B 1940 J
1940
Series C
Gr R86 lex let gug412.31941 J -J
Pitts Ft W & C 1st 7s 1912 .1-J
1012 J.
2(178
h1012 A-0
3t1 7s
PIM; Y& Ash 1st con 58.1927
PCC&StLgu412.4A...1940 A-0
1942 A-0
Series B guar
1942 M-N
Series C guar
1945 51-N
Series D 48 guar
1949 F.A
/
4 guar g
Genes E 31
1953 J •
Series F 4s guar
0 St L & P let con g 58 1932 A-0
Pensacola & ALL S'ee L & Nash
Peo & East SeeCICC& St L
Leo & Pek Un 18t g 68-.1921 Q.F
/141-N
61921'
/
48
2(1 gold 41
Pere Marq-Ch & W 24 Os 1921 J •
Flint & P M g 6s... .....1020 A-0
1939 M-N
let oonsol gold 5s
Pt Huron Div 1st g 54 1939 A-0
Sag Tus& it Dago g 48 1931 •A
PlaITS & W See Penn RR
FIRM & Rea41111g Cons 7s.1911 .1.1)
Philippine Ity let 30-yr 8148'37 3-4
Pitta Ulu & St L See Penn Co
Pate Clove ,SS Tot See B &0
Pitts Ft W & Cli See Penn Co
Pitts MoKees & Y See N YCeu
Pitts Sli & L B 1st g 5s 1940 A-0
1943 J.J
1st oonsol gold 55
Pitts & West See II& 0
li) ending Co gong 48
1997 J -J
Lv.,Registered
1997 J -J
Jersey Cent colt g
1951 A0
Rensselaer & Sax See
48..
D& Ii
Rich & Dan See South By
Rich & Meek See Southern
Rio(4r West See Den & Rio Or
Hoch & Pitts See 13 R & P
Rome Wat & Og Sea N Y Cent
Rutland See N Y Cent
Qag Tus & H See Pero Marq
43t Jo & Or lel 1st g 48-1947 J -J
St L & Cairo See Mob & 01110
St L & Iron Mount See M P
St LKO&N See Wabash
St L151 Br See T RR A of St L
St Louis 86 F.---iting 66 1931 J • J
General gold 5a
1931 J
Gen 15-24/ yr
. _1927 M-N
St L& S If RR
Iscons g 4s. '96 J -J
Southw Div 1st g 58_1947
A-0
.
Refunding g 48
1951 J -J
StL M & So East gu 4/
1
4g1909 J
K Ft 8 & 61 con g (18-1928 M-N
KOFtS&M Ryreig4s 1930
KU& M R& B 1st gu 56.192:. A•0
Ozirk& CLIC 1atgul58 g.1913 A-0
dt Louis So See Illinois Cent
St L S W 1st g 48 lal otfs.1989 51-N
2d g 48 we bond otf8...p1981. J -J
1932 J
°ousel gold 4s
Gray's PtTer let wagon 1947 4.0
St Paul (116 But b'ee Nor Pacific
St Paul M & Mau 28 66.-1909 A-0
1933 J -J
1st consul gold (Is
Registered
1933 J -J
Reduced to gold 41
/
48 1933 J • J
Registered
1933 J -J
Dakota eat gold (is
1910
Mont ext 1st gold 4s
1937 J
Registered
1937 J -D
E Minn Nor Dlv 1st g 481946 A-0
Minn Union 1st g 68.-1922 J -J
Mont C lat gu g Os
1937 J -J
Registered
1937 J -J
1st guar gold 68
1937 J -J
Will Jo 1)311, 1st gold 5s.„193b J-1)
dt P & Nor Pao See Nor Pile
dtP & S'x City SeeC St P 51 &t)
S A & A Pass 1st gug 40.-1943 J -J
8 Fe Pres & Ph let g 68_1942 51SF&N P let sink I g 58.1919 J J
Say & West See Alt Collet L
Scioto Val & N B Nee Nor & W
Seaboard Air Line g 413 1950 A-0
Coll tr tefund g 5s
1911 NI.N
Atl-Birm 30-yrlat g 48.61933 AiOar Cent 1st con g 48 1949 -J
Fla Con & Pen 1st g 58 1913 J -J
1st land gr eat g 6s 1930 4.4
1943 J -J
Consul gold 58
• & Ala By 1st con 5801945 J -J
Ga Car & No 1st gug 58 1929 3-4
deab & Boa 1st fie
1920 J -J
Sher kihr cib 80 See Al K & T
8118.p 0.5a & U See Atl Coast L
So Car & Ga See Southern
Southern Pacific CoGold 48(Cent Pao coll) k1941, J
Reglotered
k19411 4-1)
20-year cony 4s
g1929 B.S
Cent Pao lot ref gu g 481949
Registered
1949 F-A
Mort guar gold 312a-k1929 .1-1)
Through St L let gu 48'34 A-0
Old liar & S A lat g 64-1910 F-A
Mex & Pao 1st g
M-N
Gila VU&N let gug5s.1924 M-N
Roue B & W P let g 58 1933 M./4
1st guar 58 red
1933 M-N
• TO 1st g be hit gu 1937 Consol g 6s int guar 1912 A-0
let
gold
48
(4en
guar_1921 A-0
Waco Jo N W div let g 60'30 M-N
1941 J -J
&&N W 1st gu 5s
New York Bond &cord-00nel
Price
Pridav
August 20
Etta
ASA
9234
92%
104
107
107 110
107
1101
/
4
107%
107%
198
Week's
Range or
Last Sate
Range
Since
January 1
110N H.,
N. Y. STOCK EXCHAN(4
WEEK ENDING AUGUST 20
Low Biga southern Pao Co-Mont/hued,
Morgan's La & T 1st 78 19113 A
1st gold tis
1920 J -J
No of Cal guar g 58
1938 A-0
Ore & Cal let guar g 514 1927 J -J
109,
8 110
So Pac of Ariz 1st gu g 68.6'10 J -J
;So Pac of ca.-68 E & F_1912 A-0
110 110
let gold 6s
1912 A -a
107%1091
/
4
1st con guar g 5s
1931 11-N
108 109
8 Paco( N Alex 1st i; 6s.-I911 4-4
So Pau Coast 1st gu 4s .2%1937 J - J
/
4 102
1001
Tez&NOsabDivIst gtis 1912 M-S
954
04
93
COD Kola 1)t
1943 J J
991
/
4
o Pate RR 18t ret 45
1935 J -J
11312 116'', 114 J'ly'09
116',
114
Southern-lst con g 5s
1994 J -J
Registered
1994 J -J
Develop & gen 4s Ser A 1956 A-0
116
116 Aug'09
116 116
Mob & Ohio coil tr g 44 193b 51.-S
10034 Dee'05
Mom Div let g 412.5s 1996 J -J
105 105,h 105 J'ly
• 105 106
St Louis dm 1st g 43- 1951 4-4
112
1131
/
4 112
4 112 115
Ala Con It let g Os
191b J.4
/
4 1071
1071
/
4 1071
/
4
/
4
I 10434 1091
Atl & Dauv let g 48
1948
107 Sale 107
107
1 107 1081
/
4
2d 48
1948 J -J
Atl & Yad let g guar 48 1940 A-0
Col & Greens- let(39
1916 4-4
1041
/
4 Mar'06
1151
/
4
E T Va & Ga Div g os 1931 J .J
93 May'011
93
95
93
Con 1st gold 5s
1956 51-N
E Ten reor lien g 5s
1938 M-8
Ga Midland 181 le
1946 A-0
Oa Pac Ity 1st g 68
1922
Knox & Ohio let g
1925 J- J
1151
/
4
116 J'ly'09
Mob Jo Bir prior hen614..
116 11614
g 58 1945 j.J
115
937e J'ly'97
Mortgage gold 4s
.1945 J -J
Rich & Dan con g 6s....1915 J -J
10012 Sale 100% 1007e 139 0934 101
Deb os stamped
1927 A-0
100 May'09
1.18/
Rich & Meek let g 48 1948 51-N
1
4 100
98%
So Car & Ga let g 5s
9774 98
6 961
871
/
4
88
/
4 981
/
4
1011, M-N
Virginia Mid 8er C 68 191u M.S
Series D 4-5e
1921 NI- S
Series E 53
1926 M-S
General 58
1930 M-N
Guar stamped
1936 M-N
W 0& W 1st cy gu 48 1924 F-A
West N C let con g 68 1914 & N Ala See L & N
96
Spok Falls & Nor let g 68.1931. J
92
97
961
/
4 1)6 Aug'01,
I 'er A of St L lst g 4128 1939 A-0
1 let con gold 58...J894-1944 F-A
Gen refund st g 48
1933
St L 111 Bge Per gu g 58 1930 A-0
/
4 12434 Tex & N 0 See So Pao Co
123%124 1236e Aug'09 ..- 1221
Tex & Pao let gold be
1104 1Iu4 1103,, Aug'09
110 Ill
2000 -D
233 gold Inc 5.3
91 177 88
LW%
90% 88.1(9134
0000 Mai
La Div B L 1st g 5s
9431
90
/
4
95 Apr'01.
91
92
1931 J.J
1004
1001
/
4 Aug'01) . 10012 101
W MinWcI6 N Wlstgu 5s'JO F- A
'Vol & 0 C let g 58
89% 49 84% 89
86% Sale 8614
1935 J -J
I/934 Apr'00
9934 99%
Western Div let g 5s 1935 A-0
1191
/
/
4 Apr'(41'
4 12134 1191
116%1201
/
4
General gold 53
11435 J-1)
84 Sale 8334
Kan &
84
4 86
1st gu g 4e
31 82,
1990 A-0
100
Tol P & W let gold 4s
1917 J J
98 Salt 98
Tol St L& W pr lien g 3/
98
1 97% 98
1
44 1923 3-4
50-year gold 48
1950 A-U
944 95
Tor Ham Jo Buff let g 48./41946 J -D
95
94%
/
4 95
11 921
81
Later& Del 1st eon g 5 19213 J-1)
84
84% 84
85
4 79
let refund g 4s
79
814
79
781
/
4 79
1952 A-0
17 78
117
Un Pao
& gr g 48 _1947 J -J
1011
/
4 Apr'07
Registered
1947 .f -J
let 615 ref Is
100% j'ne'011
100%104
g2008 M.S
20-yr cony 4s
132 133 132
132
1927 J.J
2 131 132%
Ore By & Nay con g 48 1946 J
132 134
132% 132 Apr'01.
Ore Short Line let g 68 1922 F•A
108 111
109 108 Aug'00
let consol g 58
1071
1(1834 J'ne't/9
108% 10834
/
4
1946 J • J
Guar refund 4s
/
4
/
4 1021
102 102h 1021
1021.1(1312
19214 J-D
Registered
/
4 J'ly'119
91)12101
1929 J-D
1001
/
4101 1001
Utah & Nor gold 5s 19'26 J -J
1004 Oct '06
99
lul/
1
4 J'ly'09 ..:. 10112101¼ Uni N J RItJoOCoJeepaRR
101
Utah Central Nee Rio Or Was
124 May'05
1301
/
4
13134 131%
4 1304132% Utah & North See (In Pacuui
Utica & Black 11 See N Y Cent
1364 May'Ou
1141
/
4
115 Aug'09
andalia wnsol g 48. .1955 F -A
1144 117
115
116 J'ne'...9 _ lti 11634
V era Cruz &Plat gu41
/
41611134 J-J
Ver Val Ind & W See Dlo P
Virginia Mid See South By
90
89% 69% 89%
6 89
92% Va & Southw't let gu 56.2003 J.J
1101
1
4J'ne'09
/
4 1121
/
4 111/
1111
1st Cons 50-year 5s
/
4113
1958 A-0
110 Oct '05
abash let gold Os
1939 m-N
V
2d gold bis
1930 F.A
Debenture series A
1930 J -J
85% Sale 894
901
/
4 53 6312 91
Series B
1939 J -J
1007eAug'0.•
100%
1st lien equip s Id g 58 1921 NI951
/
4101/7e
85
88 Jan '07
let lien 50 yr g term 46 1954 J•J
931
/
4
85 J'ly '08
1st ref and ext g 46
1956 J-J
100
10714 Aug'Ou
Dot & Ch Ext 1st g 53-1941 J -J
Des Moin Div 1st g 48 1939 4.4
1091
/
4 Mar'05
Urn Div 1st g 31
1941 A-0
/
48
107 10612 J'ne'01.1
'lot & Ch Div let g 4s 1941 M.
10212106¼
/
4 Mar'01.
109 1051
105 106
Wab Pitts Term let g 46 1964 J
100
107% J'ne'01,
10634 10734
Trust Co certts
2t1 gold 48
1954 ▪ -D
Warren See Del Lac 45 West
Wash Cent See Nor Pao
Wash 0& W See Southern
93
93 Bale 93
1
48-1946 F•A
17 90
9512 Wash Terml 1st gu 3/
9334 Aug'01. ..
811
93% West Maryland 1st g 4s 1952 A-0
85
10434 Sale 1.037,4 ho? 802::1 0712107
Oen & cony g 40
1952 A-0
/
4
1.7 12 97 11678 98%
971,8alen 071
W Va Cent& P lat g Os 1911 .1-4
9634 90 J'ly
96
9134 West N Y & Pa 1st g 64 1937 J -J
/
4J'ly'09
(ion gold 4s
4104 891
891
1943 A-0
/
4 93 14
/
4 891
941
Income 58
/
4 11438J'ly'LW
9314 95
c21943 Nov
1014 Apr'09
1011
/
4 10112 West No Car See South By
/
411,
/
4 Apr1
109% 1111
Wheel'g & L E let g 58.-1926 A-0
110 112
104 Mar'09
Wheel Div let gold 56-1928 4.4
104 104
1041
/
4
Exton & Imp gold 6s...1930 F -A
1041
/
4108 10614 May'09
103 10612
10312 Apr'03;
RI). 1st consul 48....1949 1L-S
104%
10312103'.
1098 Aug'00
20-year equip 81 55 .1922 J -J
109
109%1104
1076e Nov'07
109
Wilkes & East See Erie
96
WU& Sioux F see StP M & M
95
961
/
4 95 J'ly '0106
116 118 116 Deo'06
WIe Cent 50-yr let gen 48 1949 J-J
/
4 Jan '09
1071
Sup& Dul div& term 1st4s';16 M-N
1071
/
4 1071
/
4
U
Price
August 20
▪ :
117 J'ly'0,
108
108 Sale 108
11512116 116 Ply
96
97
96
98
111934
110'. J'nel).
'2 10021119
113 117
96
08
1104 1104
11234 1131
/
4 11234 Aug'0;
65 J'ne'09
76
105 Jan '161
103
1061
/
4 Nov'04
100
111 114 111 J'Iy'o
112 114 112 J
1031
/
4 DA;103'. May u;
03 h, 93 Aug'u'
901
9412 97
/
4 Aug'11:.
90% 911
/
4 90%, 90% 10
83
83
83
9134 Apr'0,
107 j'ly'U•
107
811
81 Nov'0.
1031
/
4 104
41
/
4103% 1031
1021
/
4
102¼ J'Iy4A.
11878
9876 Sale
711244 1021
117/
1
4 Sale 116
if t 56
98%
981
/
4 90
1191
/
4
119¼ Aug'U;
114
114,114
9434 31
93% 1)4'. 9422
94 Jan '01'
10634
9938 Aug'Ul
98
98
112% 119
75
65
10312 105
III 1121
/
4
112 112
1031
/
4 105
9'234
86,4 94
891
/
4 91%
881
/
4
83
9134 91%
107 1.1844
102 104%
100% 103
96% 100
102 1244
119
98
1,13'. 110'.
114 118
94
964
94
94
11935 1001
/
4
Nov'Or
Sep'01
110 J'ly'01, ..•
081
/
4 21
981
/
4 98
113
113'. 113
1041
/
4 10412 104: I)
1001,Jan'09
101 101 J'ly'09
10212 May'ur
1)6
b7 May'u,
17% .726
76
1104 Aug'uu •..•
1104
/
41,
911
/
4 J'ne1
86
78 J'Iy'ut
76
84
911
/
4 May'0; ..••
85
90
401
/
4
47
47
46
44.4
32
44-'4 Sat(
7
It
7¼
7
109
98
113
104
110 1171
/
4
084 100
111% 1141
/
4
10212 105
10012100'.
86 101
1021
/
4 1021
/
4
87
871
/
4
7134 80'.
108 1114
86% 9112
80
in
90
91'-i
554
42
41% 6534
7
14h,
9212 J'ne'0,
921
/
4 9334
90% 92
/
4
861
/
4
82% 88
851
/
4 85% 851
70
(ii
69
731
/
4
70. 70
102 J'ly'0.
102 102
, It 110 117
113 114 1134 113
'
683
4
J'Iy
1
/9
87
95%
9114
34 lieb'07
1074107% 105 Feb'Oi:
104 106 4
, 95 J'Iy'lla
101
/
4 Dee'Ob
871
/
4
/
4
871
/
4 87% 871
99 Dec'11.
96
99
95.4 95'. 951
/
4
93k., Salt
WI'.
107
109
83% 90
/
4 96%
957* 25 891
9312 20 9234 95
BON
•Iliscellaneous
1948
g 4s
Adams 14x cal
Ferry Co letcons g 58'48
195, A-0
Bush Terminal let 45
1955 J -J
Consol ba
CincJo & t Yard ool g 58 1915 3-4
Det 21 & Mkt gr incomes 1911 A-0
Institution for lrrig Wits
& Devel of Agricul 5 1
1943
410(etre)
/
48 1922 A-0
Int Mercan Marine 41
lnt Navigation lets 1 58 1921. F-A
Newp Ne Ship & D D5881991/ J-J
N Y Dock 50-yr 1st g 4e 1951 F-A
Providenoe beg. dell 4s
1957 M..14
Provident Loan Soo 4128 1921 31-S
1
48 1930 J -3
st Joseph Stk Yds let4/
a Yuba Wat Co con g 68-1023 J-4
CIA Red & Ref lst s t g 611.1031 J.J
&Due lieb 8 bite Apr a Due .11 ay g Due J'ne
98
961
/
4
77
90
9612101
73's 781
101 1064
85
8812
100 105
93
991.
108 1161
/
4
98 102
9l4 98
10412106'.
8434 913,
l0214 106
1(12'. 108
/
4
101% 1081
93% IOU
904 9512
Range
:mixt
Januarn
Week's
Range or
Last Sale
31agnISv LOW .11!fill,
lite
,48 Low
1171
/
4 120 122 le Aug'08
116 Nov'Oti
115
112 Feb,w;
104 104
104 Mar09
10112 1011
101 12 Jan '00
/
4
104 12
1141
/
4 Dec'04
112
116 May'07
104 Apr'07
90 J'ly'09
92
.92..
/
4
106 102'. J'He'00
/
4 1021
1021
102
98¼ Apt '08
115 am(
95¼ 453 934 96's
114%
1121
/
4 Sale 1 12'. 113
46 106 1131
/
4
1(.9
1
4
109 110/
110 May'00
811
/
4 sale
131 41
821
/
4 91 76
85
9011
901
/
4 15
904
112 113 Apeuv
/
4
113 1131
893t MI4 Aug'uSi
87% 91
1101
/
4
108 sop '08
921
/
4 94
/
4 Aug'09
021
921
/
4 921
/
4
87'. 87:4 92 J - He'uu
811
/
4 86
109 J'ne't1
109'.
109 III!ki
110
111 J'ne'ou
109N 111
1141
/
4 10 110/
/
4 Salk. 1141
/
4 1141
1
4 114 h
1004
107 Apru:
105 107
65
68
68 Aug'09
64
68
116%
11634 1164
3 11434 117
115 118 11814 Nlay'th,
118121113¼
1153e Apr'u0
103
82 Nov'Ob
1101
/
4J'ne'Ut,
1091
/
4
108'. 111
108
92 J'ne'u
73 Oct 'Ub
1031
/
4 May'09
1021
/
4
10112103¼
112 Oct 'Uti
1064
......
/
4 Dec'Ou
1081
106
109 J'ly'09
10712
109 109
109 Aug'09
109
107 11012
1091
/
4 A:Wt./9
1074 1091
/
4
061
/
4Jan '07
87
106 kg 109(4
108'. Aug'0:101312
V
93 Sale 93
941
/
4 118
88% Sale 88%
89% 59
1001
/
4 Sale 10012 10034 32
76 Sale 754
7(134 26
104
103
2
106
871
/
4 88
871
/
4 7
871
/
4
10512105'. 105 Ply'09
9812 991
/
4 981
/
4
991
/
4 12
116 1161
/
4 Apr'01,
102 1,„ 1014 1013e 5
97
98
117 Aug'01' ....
106 106 Aug'011
921
/
4 9012
80
1
10434 Sale 104% 105,
, 83
10612 Sale 1061
/
4 1074 20106 Salt- 106
107'. '2
99 100
U912
994, lb
9434 Sale 941
/
4
03 12:.
.240 price Friday; latest bid and asked this week. a 1)ue Jan
459
Page
how
31105 JV o
92 Apr'07
9834 Apr'04
1)ec'08
106%
12788 Oct '02
110 May'..9
107 Oct '08
110 Feb'011
10778 J'ly
108 J'iy'09
11212.1'ne'05
102 Feb'09
9412 Apr'00
ISCELLAN EU,
hiduntrial
Armour &Co 1streal est4 tIa'39 J-1)
Beth Steel 1st colt 51 58..19.6 -J
Cent Leather 20-year g 58.1025 A-0
Distil Sec Cor cons- let g 58.'27 A-0
hut Paper Co let con g Os 1918 F-A
1935 J -J
Consol cony a f g 58
Int St Pump 10-yr oonv. Os'13 J•J
1923 A-0
lackaw Steel let g 55
N Y Air Brake 1st cony (is '28 M-N
IlepubiJos 1st& oultr 58.1934 A-0
Union Bag & P let 81 58-11/30 J-J
US Leath Co 61(106 g 158_11113 M-N
US Realty Jo I cony deb g 58'24 '-4
U 8 Rubber 10-yr coil tr 63.118 J-D
.81963 51-N
U S Steel Corplcoup
i
St 10-60 yr 58. reg -81963 M.14
Va-Car Chem 1st 5-yr 58 1923 J-D
Westinghouse Pi & Mat 55 '31 J.J
ri
9234 Sale
92
95
90
931
/
4
/
4 9512
911
9234
92%
41 Oct'06
91% 130'.Ply
9512 J'ly '014
100 Jan'08
47 Apr'Cle
94
92% 96
95 Aug'Ul.
69
77
704 44 69
8464 881
85 J'ly'09
/
4
96 Aug'Ob
9412
941
/
4
941
/
4 2 91
90
90
90 Jan '011
915
96
95 J'ly'09
10012sep '05
......
112 J'ly'04
SiAug'09
93
90
91
89
A Due 'ly p1)00 Nov s0ptien 841.
09 Sale
821
/
4 87
95
94'2
864 87%
CHICAGO STOOK EXCHANGE-Stock Record-Daily, Weekly and YearlyOW.
STOCKS-IIIGIIES7' AND LOWEST SALE PRICES
Aug 14
............g
a ..99495
Aug 16
Aug 17
mew/A-4(.4y
Aug 18
aursaay
Aug 19
A
.1,may
Aug 20
Sales
0/ tile
Week
Shares
Last Sale 180 Apr'09
i;212 .3
.
,T(.
212 '.:;
;
.
1212 1
;212 1
Ll/31 Sale 214 July'09 --__
*10
12 *10
*10
12
12
*10
12
Last Sale 10
July'09
*108 112 *108 112 *108 112 *108 112
Last Sale 11910 July'09
3814 37
37
*38
*3714 38
*3714 38
3712 38
*37'
38
72
*2312 25
*2312 25
2412 2412 *24
25
*2312 25
*24
25
25
*912 10
*912 10
*912 10
*912 10
Last Sale 912 July'09
2012 2012 *20
21
2014 2012 20
21
1912 2018 19
1-.,1.2.1.
20
*47
49
*47
49
*47
49
*47
49
Last Sale 1934 Aug'09
*83
8338 *82
8318 *82
8318 84
84
*82
83
*81
82
2
*1518 18
*1518 18
*1518 18
*1518 18
Last Sale 1734 Aug'09 ---*49
50
*49
50
*49
50
*49
50
Last Sale 49
Aug'09 --_
*19
20
*19
20
*19
20
*19
20
Last Sale 20
Aug'09 ---*68
70
*68
70 *68
70
*68
70
Last Sale 70
Aug'09
*5512 58
50
56
*55
56
*55
56
*55
56
5512 551.2 "...I3
4518 4512 45
4512 45
4538 45
4514 45
4514 45
45
1,110
*10112 10312 *10112 10312 *10112 10312 *10112 10312
Last Sale 10112 July'09 -__
1258 1314 13
1312 1278
8414 85
8412 8434 8418
___ *208
__ *208
*130 135 *130 ii5 *130
*2086710 *66
*67
6714 *65
*108 110 8108 110 *108
14158 14238 14134 142
14034
1314 13
85
84
-- *2(18
135
-- *130
6612 *65
110 *108
14112 141
1314 1258 1234 1214 1234
8478 84
8414 8278 84
-Last Sale 210 Aug'09
135
-Last Sale 132 July'09
6612
Last Sale 6712 Aug'09
110
108 108 *108
110
14138 14014 14058 139's 140
Last Sale 18
June'09
.:..
Last Sale 14
3714 -1-74 1114 1712 iris To4 1714 1714 1712 1712 18 June'09
1814
56
66
56
66
56
56
5534 5534 5434 5514 5414 55
*54
55
*54
55
*54
55 *54
55
Last Sale 55
Aug'09
*1
118 *1
118 *1
118 *1
Last Sale 1
118
July'09
*2
3
*2
3
*2
3
*2
3
Last Sale 218 July'09
2714 28
28
30
29/8 3112 3112 33
3138 33
3018 3112
*135 13512 *135 13512 *135 13512 135 135
136 136
135
135
Last Sale 214
Meh'08
442- fii" *1:12- fii- 1--12- 142 - iii- 1-4-2
142 142
140
140
120 121 *121 12114 12114 12114 12012 12114 12078 121
121
121
Last Sale 25
Aug'09
Last Sale 8812 May'09
15512 1303-8 13014 1-3058 13014 13012 130 13014 130 13014 12034 12934
4958 4958 4978 4978 4978 4978 4934 4934 4953 60
4978 4978
*43
45
*43
45
*43
45
*43
45
Last Sale 44
June'09
____ -_ --- ---- ---- ---- -----Last Sale 212 June'07
_
Last Sale 21
June'09
105" 166- *Thii" fo'i" *ilia' iiii" *iiio- gi *106 107
*12612 127 *12612 127 *125 126
_
12334 125 *125 126
---98
98
*98 100
98
9318 *98 11)0
9818 0818 06r22 -9-8-1;
*118 120 *118 120
120 120 *119 120
11812 11934 11814 11978 118 11834 11712 11812 -------- 11514 11618
Last Sale11-16 Meh'09
1E1512 1-0012 101 10153 1015- 10214 10238 10258 10134 10238 102
103
*11434 116
11514 11512 11512 116
11534 11638 ----- -11138 11158 11078 10112 110 111
11012 11114 11012 1-1-034 110
iiiiis
Last Sale 7
Feb'09
*Lig" fal *iii" car *143" Ed- *145 148
Last Sale 148 Aug'09
*103 10312 103 10338 10338 10310 *10112 103
10213 10212 102
102
-- -- _--- ---- ----- ------Last Sale 112
Apr'09
___
Last Sale 3
Apr'09
Last Sate 734
Apr'09
1.
412 1912 ;1,-1 14-3-4 ii 14
.14 1414 1414 14
14
14
1414
*13)
90
1141* 1310 *18
10
*18
10
10
2012 91
91
interest
Price
Pridau
Aug 20
MA
Ask
Amer Strawb'd 1st 6s_1911 ..1 - 1
-1939 J -D 19412 Sale
Armour & Co 4
Aurora Elgin & Chic 5s 1041 A Cal & So Chic By Co
1027 F - A mr*.mb
1st M 5s
J
Cass Av & F U (St L) 5s'12 J
• ••
Chic Board of Trade 4s1927 J -D
Chicago City ity 55_1927 F - A
J
J
Ohio Consol Br&MIt
Ohio Consol Trac 4 hs-1930 J -D
Chic Auditoriumtst 5s1920 FA
Chic Dock Co 1st 4s_1920 A Chic Jc RR 1st
g 53..1943 111 - S
Chic No Shore Elec 63-1912 A 79 -10-Ohlc Pne Tool 1st 5s_a1921 J - J
1927 F - A 110138 Sale
Chic By Is
Chi.. Rys 4-5s series "A" A -0 9578 Sale
Chic Rys 4-3s series "B" J - D 8612 Sale
92
Chic Rys 4-58 series "C' F A 191
Chic Rys coil 6s.._. 1913 F - A 10112 _
Chic Rs
,
: Fund 6s_1913 F - A 10114 101-4
/10118 10112
Chic Rys Tern Ctfs 1st Is.
Chic R I & P RR 4s-2002
- S
Collat Trust g
D 51027R 10338
Ohio Telephone 5s____1923 J
Commonw-Edlson 5..1943 M - S 10234 Sale
J
Chic Edison deb 6s1910 J
:155i4 10114
lst g 5s ____July 1926 A Debenture 5s.-__ 1926 11 - S
Commonw Elect 50194::
- S i5:- 103
Illinois Tunnel 5s____1928 J
D
Kan City By Ss Light
Co 5s
_1913 Ill -N
Knicleb'ker Ice 1st 53.1928 A Lake St El-lst Is .....1928 J
90
J
Income 5s
1925 Feb
Metr W Side El8412
1938 F 1 84
1st 4.3
Extension g 4s
1938
---- 8134
North West El 1st 4s 1911 11 S 9512 98
No W G-L & Coke Co 33'28 Q - M
Ogden Gas 5s
-N
1945
97
98
Pearsons-Taft 5s
1916 J -D 100
4.40s
S 9634
4.60s Series E
51-N
98
11- N
4.80s Series F
99
_..Peo Gas L&C 1st 63_1943 A 1- - 122
- S 10318 10338
Refunding g 5s____1947
Chic Gas L&C 1st 5s1937 J - J 10412 Sale
Consum Gas 1st 53_1936 J
D 10214 ____
Mut'l Fuel Gas lst5s1947 M - N /102 Sale
South Side Eley 4;48_1924 J - J 94
95
Swift & co 1st g 58-1914 J -J 10034 10118
Union El (Loop) 53-.1946 A Onion Pacific cony 43-1911 M - N
United Box Board col 63'26
General mtg 6s
:
'
- 3 179' 80
Western Stone Co 5s....1909 A -
Week's
Range or
Last Sale
Lowest
1?ange )or Previous Feat
(1908)
JIIqll 751
..7,oteest
Pailroads
Chicago City Ry
100 180 Moll 8 190 Feb 3
4 Jan 22
Chicago & Oak Fark_100
214 J'ly 21
9 Jan 21
100
15 .Inn 22
Do pref
Chic'Rys part ctt "1"___ 107 J'ne
11912 J'ly 28
36 J'ne23 4534 Jan '2
Chic Rys part ctf "2"-__
Chic Rys part ctf "3"...... 2412 Aug 17 30 Jan 20
I) May 3 1312 Jan 2
Chic Rys part ctf "4"__ _
Chicago Subway
100 16 J'ly 21 2914 Jan 2
Kans City By & LL 100 35 Feb 24 52 J'ly 7
100 79 Jan
Do pref
8613 ttlay18
Metropol W S Elev 100 1512 Augll 19 Mch 8
100 47 Jan 19
64 J'ne 3
Do pref
Northwestern Elev__ _100 '20 Aug 11 '25 May 6
an ti 73 May 7
Do pref
100 63
South Side Elevated_ _100 50 Jar. 25 61 May 7
Streets W Stable C L_100 2914 Apr 13 5134 J'ne 19
Do pref
100 97 Feb 15 10712 Joe 18
Miscellaneous
6
:
3_7_ American Can
100
2,015
Do pret
100
American Radiator_ _100
Do pref
100
---- Amer Shipbuilding__ _100
Do ()ref
100
3,119 Amer Telep & Teleg___ _
I._ _. Booth (A) & Co
100
Do pref
100
..TV, Booth Fisheries corn ____
861
Do p ref
Cal & Chic Cz.nal &D100
Chic Brew'g & Malt'g
Do pre(
749 Chic Pneumatic Tool_100
52 Chicago Telephone_100
__
Do rights
-86 Chic Title & Trust__ _100
1,147 Commonw'th-Edison_100
____ Corn Prod Ref Co Corn Do
Do Pref10
" a Diamond Match
715 illInols Brick
100
-__ Masonic Temple
__ MIlw ec Chic Brewing
Do prof
__
26 Nati
poonp
'100
ar
i eB
r iscult
100
100
198 National Carbon
100
16
Do prof
100
2,566 People'sGasL &Coke_ _100
Do rights
s7,7285 Sears-Roebuck com__100
Do pref
185
100
4,323 Swift & Co
100
___
Do rights
The Quake . Oats Co__100
Do pref
"Wo
100
Unit Box Bd & P Co-100
Do Full paid:::
Do pre(
100
Do Fug pa d1-.155
100
125 Wostern Stone
:Ili
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week entlinq Aug 20
Range sine.
,
Jan. 1 1909
STOCKS
CHICAGO STOCK
EXCH ANGE
778 Jan 30
7134 Jan 6
200 Jan 11
126 Jan 21
5418 Anr 21
101 Feb '24
13988 Aug20
18 J'ne
14 May22
10 'tin, 24
48 J'ne 16
5114 Jan 4
1 Apr 27
24 Apr 27
20 itch24
127 Jan 4
1418 May20
86 J'ne 4
'210 Align
132 J'ly 21
6134 Aug 7
110 .1'n'12
14258 Aug12
'2
1
5 .10.n 5
1814 Aug 20
67 J'ne 8
58 Apr 1(i
Apr 27
218 Anr
33 Aug 18
136 Aug 10
2012 Apr 27
97/8 Jan 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 Jr.',n 5
12 Feb 25
55 Jan 5
101 Jan 6
10012 in
6 Feb 5
119 Jan Ii
9812Jan 2
5s Feb 19
214 Feb 26
334 itchl0
1012 Moil 9
IS Feb 46
21 J'ne 28
109 .Jan 16
127 J'1120
99 Aug1:3
120 Apr I
11978 Aug16
I Men c11
103 Aug .0
11638 Augig
11414 Aug 6
20 Jan 18
15'; J'ly 28
10:312 Aug 12
158 itch26
318 itch '2
912 Jan 4
1638 J'ne 5
160 Jan
.15., Feb
W.:Dec
8434 J'Lic
38 Oct
20 Nov
934 Sep
15 Feb
30 Oct
68 Sep
1214 Nov
42 Jan
1334 Aug
96 Aug
.12 Aug
2612 Apr
85 Apr
185 Dec
318 Aug
(0 Aug
111) Nov
47 J'ne
28 Dec
1312 Dec
3012 Doc
4734 Nov
8612 Nov
19 Jan
64 May
22 Dec
6212 Dec
71 Jan
34 Nov
103 J'ne
4 Feb
4112 Jan
125 Jan
116 Apr
37 Mc)
91 Jan
1038 Nov
/678 Dec
200 Dee
12814 Nov
63 Nov
104 Nov
78 Dec
3 Dec
117 Jan Is 151 J'iy 27
107 Jan 21 12112 J'ly 1
1718 Feb 25 251g Aug 3
7014 Mch 25 881q May19
117 Jan U 13034 Aug13
38 Jan 16 51 J'iy 28
t
45 Feu ,
43 Jan 5
?flattest
31/
100
Jan
May
40 Feb
1 Oct
2 Nov
'20 Dec
106 Jan
34 Feb
100 Jan
80 Jan
5714 Dee
118 Aug
4 Apr
3012 Aug
153 Sep
234 Feb
116 Dec
110 Oct
113 Jan
:30 Jan
38 .1111
13/ Aug
4212 Dec
46 J'iy
19 J'ne
20
70 Jan
97
10134 Jan 120
51 itch
87
91 Met) 115
8017 Jan 100
.1.1y
Dec
Aug
Dec
Nov
Dec
24 Jan
72 Jan
8812 Jan
56 Dec
102 Dec
10534 Sep
1144 Jan
87 Jan
14
1'34 Jan
100 .1'ly
134 Jan
112 J ly
12 Jan
1'13.
17
Chicago Banks and Trust Companies
B'ds
Sold
Range
for
Year 1909
NAME.
Oursra ndOw
Stock
t
surptus
and
Props
Dividend Record
in
1907
in
1908
Per
ied
Last Paid
%
high No, Low
Low
8
0 Q-M June '09) 2 .
High ;Bankers National
82,000.000 1,'284,770
100 Men'07
0
An. Dee '08; 6
6
36,276
lalumet National
100.000
0412 0412 19 NC; bijii lhicago City
10
190,740 10
,1,1 July '09; 5
500,000
12
Q-.1 July '(Jul 3
;Commercial National
3,000,000 4,344.640 12
8
8
0-.1 July 09; 2
..)ontinental National_ n4,000,000 3,952,849
102 J'ne'09
6
6 Q-M July '09; 112
6,270
102 10210 look Co State Savings_
50,000
10114Feb'09
12
Q-.1 July '09; 3
12
101 10114 Dorn Exchange National 3,000,000 5,189,968
100 May'07
6
37,295
A -0 Apr '(Jul 212
6
Drcxel State.
200,000
10314 10334 33 118
413,275
934 0-.1 July IA 212
)314 1-05-- Drovers Dep National
600.000
103 Apr'04
6
33,000
Q-.1 July '09; 112
6
Englewood State
200,000
50 Apr'09
12 Q-M J'ne 30'09; 4
-60 16" First National
8,000,000 8,227,364 12
9634 Jan'06
10 Q-11 J'ne30'09 212
165,042 10
First Nat Engiewood
150,000
555,098
Pay ate Ba nk
Foreman Bros B'k'g Co- 1,000,000
8
Q-J July '09. 2
436,905
8
Fort Dearborn National.. 1,000,000
87 Feiati
J-.1 July '09. 212
6
5
160,567
500,000
Hamilton National
77
7912 55
8
(7-.1 July '09, 2
8
72 -7-9-1806,641
2 .11bernian B'k'g Assn
1,600,000
10138 10138 10 10078 10234 Kaspar State Bank
.1-.1 July '09; 5
10
118,250 10
200,000
9578
9578 10
9312 9614 Live Stock Exchange Nat 1,250.000
396,836 -... 10+2 Q41 Fe 30'09,211
8612 8634
4
4
Q-F Aug 109, 1
4
8434 8912 Monroe National
63,178
300,000
3914 J'ne'09 -8
8
Q-J July '09, 2
89
91
Nat Bank of Republic
2,000,000 1,161,039
10112 Aug'09 -- 10118 10238 National City
3
620,474.....,
Q-.1 July '09, 112
1,500,000
10112July'09
66,685 ...... -__ ---- July '09, 1
10112 10238 National Produce
250,000
10114 Aug'09 -- 101 10212 North Avenue State
2;-6 Q-J July '091 117
67,721/ ---200,000
6012Aug'08
6
12,102
Q-.1 July '09, 11;
60,000
6
North Side State Savings
6612 J 'Iv'08
9,102 _-- -... -. July '09, 111
itii" 10134 North West State
200,000
10318 10314
11: 10234 10334 Prairie National
72,664
250,000
10212 10234
12 101 10314 Prairie State
8
45,549
8 (2-SI June '09, 112
500,000
100 June'08
4
2 ..- Jan '08,2
6,141
250,000
Railway Exchange
____
16078 10078
146,102 __
2 10034 10134 Security
300,000
July '09, 111
101)58 Aug'09 _
6
78,176
6
10058 10218 South Chicago SavIngs(.4-.1 July '09, 113
200,000
10234July'09
11
10234 10358 State Bank of Chicago._ y1,000,000 1,414,754 9+1
0-4 July '09.3
80 Dee'08
6
179,358
250,000
7
Stock Yards Savings
.1-1) June 30'09,2
0
42,726
6 111-14 may '09;3
200,000
Union Bank of Chicago_
65,629
6
9834 J'ne'09
200,000
98
6
9834 Union Stock Yards State
Q-J July '091 112
8
91) Mch'09
2,709,504
8
95
Q-J July '09; 2
American Trust & Savgs- 3,000,000
96
90 July'09
794,826
7
73
Jentral Trust Co of 111_ 2,000,000
91
7
Q-J July '09; 134
16 May'05
80,508 __
n500,000
13.4 Q-.1 July '09, 112
Ohicago Say Bk & Tr
6
5,000,000 r 1,208,619
Jhicago Title (Ss Trust
Q-J July '09; 111
6
89
84
6
3
8,45.3
50,000
881, Jitizens Trust & Savings
4
A -0 Apr '09; 2
83
837 J'ne'09
500,471
10
600,000
8212 8417
8+2 Q-J July '09, 21g
: Oolontal Trust & Savings
9534
98,370
6
9534
200,000
3
9214 961, Drovers Trust & Savings
July '09; 2
Q-J
74
____ Q-J
218,081 __
98 Aug'09
08
99
1,500,000
Farwell Trust Co
July'
09 1-12
97
6
97
93
98
First Trust & Savings_ 2,000,000 2,065,234 ..... __ Q-M July '09', 4
10030101'09
7,400 Ineorp ()rated 1908 V 87,0.1131
200,000
10014 10012 :luarantee Trust & Say_
97 Meh'09
6
Harrls Trust & Savings- 1,250,000 1,051,962 __
Q-J July '00; 21)
9634 08
98 J'ne'09
98
9972 Illinois Trust & Savings- 5,000,000 8,386,842 16+4 10+4
q Aug 20 '0911
100 Meh'09
44,669
G
100 1001g Kenwood Trust & Savgs
200,000
6
Q-.1 July 1/91 134
12134May'09
2
34,889
120 122
200,000
4% 0-.1 July '09. 114
Lake View Trust & Savgs
July .09 3
10314
20
Q_J
12
12
10314
103 104
Merchants' Loan & Tr Co 3,000,000 9,983,232
5 1.04 105
10412 103
239,383
6
750,000
Metropolitan Trust & Say
6
0-.1 J'ne '09 113
10214July'09
102 10234 Northern Trust Co
1,500,000 2,138,433 .8
Q-J July '09 2
8
102
102
6
51,656
10112 102
200,000
6
.1,1 July '09 3
North-Western Tr & Sow
9412 9412
9412 9684 People's Trust 83 Savings
04,577
6
200,000
6
Q-.1 July '09 2
10118 Aug'09
500,000
k8
10012 102
1/7,743
Pullman Trust & Savings
Q-J July '09, 2
8
92
ge.
95 J'ne'01)
200,000
20,000 Beg. b us.fly 12,0 9 V.89.9.191
Sheridan Tr & Say Bank
114 Nov'04
26,3b3
200,000
6
5
J-J July '09: 212
Stockmen's Trust & Say
80 Aug'09
70 11:41,000,000 1,188,514 ......
2 Union Trust Co
8 Q-M June30'09, 2
79
79
7014 81
204,073
6
Western Trust & Savings 1,000,000
Q-J July '09. 11)
6
8512J'l y'08 -59,339 Began busies es
200,000
West Side Tr & Say Bank
Sept 5 1901
35,920
0
200,000
Woodlawn Tr&Say Bank
0 Q-J July '091 111
Note.-Accrued Interest must be added to all Chicago bon d nrices
* Bid and asked prices. no sales were made on this day. t June 23 (close of business) for national banks and Juno 24 (opening of business) for
State
stltutions
/ No price Friday; latest price this week. a Dud Dec. 31. b Due June. k Also stock dividend of 33 1-3%, 81 Capital and surplus
to
e increased.
Dividends are paid Q-J, with extra payments Q-F. r As of date De0. 31 1908. s Bankers and Commercial National banks to be
erged under acme et Commercial National. V.89: p. 161 140. y Capital increased to S1.500.000. V.88:
P. 1477.
103-3-8 say;
E
AVG. 21 1909.]
THE CHRONICLE
Volume of Business at Stock Exchanges
461
Electric Companies
.4s
ltdo i1st
Chicago Edison Co See Cs 4ciag
e Kings Co El L&PCo 100 13 0 132
Narragan(Prov) El Co_5()
:0 2
9
37
3
Elea
L &PowCo-10) *91
ferr
9
NY
P&
re
100
United Elec of N J
7
/5
2
70
9
lit e• 4s 1940
17
76
J-D
inclustriai and Aliscel
ate lek
5
Consol blubber Tire_10
26
___ ___10(. 23
Preferred
35
30
t
A&U
Debenture
4s
1951
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
Cons Steamship Lines ltu,
DAILY, WEEKLY AND YEARLY.
Coll tr 4s 1057
ee.i f 76- 73
.:orn Prod Ref See
rctsJ7 Stock Exc .St
121, 1278
Railroad
Stocks.
10,,
U. S.
State
sitc.
101•
Week ending
'Crucibleeprererrelei
Bonds.
Bonds.
CtImberiand Ely Copper.5
Bonds.
Ferry Companies
7316
Shares,
Par value.
Aug. 20 1909.
?Diamond Match Co..10( 13u 131
B & N Y 1st Gs 1911_J -J
92
$22,500
88
Dominion Copper
it
Saturday
686,948 $66,334,800 $3,219,500
38
5,518,000
Douglas Copper
48,500 $10,000 NY &ER Ferry stk_100 34
r
,-1-1
4 -1
14
Monday
1,225,738 115,250,300
97
512 Eciosni:3N*1Lst f&a6s
19,000
6
3,821,000
1st Is 1022
50,000
96
55
P(J1o91:6e6t_, -1111
1,094,900 100,735,000
Tuesday
11-N
93
5,000 N Y & Hob Is May 46 J-D
4,976,500
93
, 38,500
1956_J
1,057,740 99,144,000
Wednesday
30
Bob Fy 1st 5s 194611-N 306
67,000
4,848,000
20
-- Electric Boat
10(
1,209,705 111,141,500
Thursday
05
11,000 NY &NJ 5s 1946
70,500
Preferred
4,867,500
95
10, 65
1,4:37,361 130,471,100
Friday
_J-J
4- - Empire Steel
10th & 23d Sts Ferry _100 34 .
109 10
$297,000 $45,000
1st nage 5s 1919__J-D
Preferred
lot, 05
6,712,482 8623,076,700 827,250,500
Total
27
512 7
24) 'Federal Sugar of N Y se, St
* list
?Union Ferry stock_100 6
:General
100
elst
x 90
Chemical__
Is
-1(19
96
1920
11-N
Aug.
Jan.
20.
1
to
Week ending Aug. 20.
Sales at
ePreferred
109 102 106
New York Stock
8(11155
0oidneld Consol Mines-10
Short-Term Notes
1909.
1908.
190S.
1909.
Exchange.
*12 114
Gold Hill Copper
1
,
I; *91. 9%
112,311,061 Arc Cig ser A 48 '11_11-S 98% 9912 Greene Cananea
128,950,222
4,012,7621
6,712,482
Stocks-No. shares___
9832 Guggenheim Exploen 10e 211) 220
4s Mch 15 '1211 S 08
8623,076,700 $353,903,7001311,827,774,525 $9.650,403,350. ikm B &
Par value
Tel g 5s '10 J-J 1004 100, eilackensack Water Co '
$133,400
$1,100
$40,400
Bank shares, par
Atlan Coast L 5s '10_11-S 10012 10018
91
Ref a 4s '52 op '12....J-J
89
• Bonds.
55
Hall Signal Co
9452,620 Cin Ham &D4 Cis '08 111-S 1 71)12 72
$320,700
$45,000
81,300
Government bonds
Col
13
In
Havana
g
t
(
1:1
)
48
(
9
1
Tobacco
1
.(
1
)
)
Co
1913_--J-J
9714
9
8
65,022,000
338,500
297,000
25,680,700
State bonds
C C & St L 55. June '11 1011., 113134
26
Preferred
878,371,100
27,250,500 11,153,000
514,422,700 C
RR.and misc. bonds
Erie Os, Apr 8 1911_ A-J.) 100 101
70
1st g 5s June 1 22-J1-91C
, (31
10912
lnterb
Hecker11
104
g
Mil
Jones-Jewell
Os
1911
M-N
$27,592,500 911,493.300
$579,897,320
$904,372,500
Total bonds
10812
5s Mch 1910
1st 6s 1922
M-11-S 101 10112
1)034 mu% Heeg-Hall-Mar, new_1(1i, 35
K C Ity &Light Os ".2 M-S 9034
45
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Lack Steel 5s g 1910_111-S 9334 10012 Hoboken Land & Impluo
EXCHANGES.
Lake Sh & M So 3s1() F A 1001! lt)()3,
e5s 1010
11-N -9-9-34Lou & Nash g 5s '10_11-S 10034 10112 Houston OIL
Mex Cent 5s July 1 191' 10032 10072
40
Preferred
Boston.
Philadelphia.
Mich Cent Is 1910_ F-A 10i)i., KM: Hudson Realty
()
1, lit 110
1(9
)
Week endinq
9912 9972 Angersoll-Rand com..1
MInn & St L a Is '11_F-A
0(u) 50
7
3.°
Listed Unlisted
Bond
Listed
Bond
Unlisted
Aug. 20 1909.
tP
e rrneafeertreBdank
t in e
rit2 103
14
N Y Cent 59 1910___F-A 041(
shares. shares.
sales,
shares,
sales.
shares.
4x0
dc 150
19
99
; E
0
'
seeos„:11,
-- N Y C Lines Eqp 55 '10-27
ust
$64,000 N Y N 11 & H is '10-'12 10(114 1025 !nen' Mer Mar
15,248
22,864
$14,000
8,189
9,077
Saturday
101
Internee'
Norf
4
1()0
3
&
112
Nlckel
1(u)
1Vest
103
52
1111011-N
23,163
171,000
24,891
35,000
15,123
8,649
Monday
Preferred
91
116,100 Pa RR Is Mch 15 '10 M-S 11)(152 10072
30,580
28,024
68,000
13,367
16,227
Tuesday
Ity:
1st g 55 1932_Al
92
00
5
ect 8
297,400 Public Serv:ce Corp lo- Sees
18,525
28,667
Wednesday
14,908
13,065
71,000
997,s iou
international
st
L
Salt
&
15
10
.
San
12
Fr
g
5s
'11
1
&J
34,556
18,977
92,200
10,465
22,000
Thursday
21,056
;
:
851
iart fitOe
)
ds 149
4 457
0g notes'12 opF :
62
A-u 1 55
28,736
82,600
3:3,688
21,000
Friday
20,352
21,635
In ternael Sliver
South Ry g 5s 1910_1-A 10(11,
10J
11
8
13:2003009:065:34842 l1001,
ist1 1
Preferred
1110 03
Total
132,673 175,2431 82:31,000
76,813 9923,900 Southern Fly 65 1811.01-N
96,195
20097313:0
Os 11)48
Tidewater 65, 1913, guar
J- I) 1(19 11)
ua
wy
internat
Smelt & Itetg 10)) 125 135
WestIngh El&Ni 6s 1910
rs.
.!onese&Laughlin
Steel Co
Railroad
1st s : g 5s 1039 __M-1\ 502 103
Lackawanna Steel
10,
61
49
Atch Top & Santa FeLanston Monotype......2t, *1734 18
Cony 4s (w i)-Sec Stk
All bond prices are now "and interest' except where marked "(,"
Mtge Co..--..10i :23212 •-4212
Chic Gt West com(w 1) 100
57 - ?Leh & Wilkes-B Coal 50 120
Preferred (w _ ___100 53
Street Railways
Ask Clue Peo & St L1)pret_l
Street Railways
Bid Ask
Loirp
rot&
erre
Tylor
10u 100 111)
Pub Serv Corp N J (Con)
New York Curt
103
Deposited stock
30
Rapid 'Fran St fly.100 240 260
Bleeck St & Ful F stic..100 15
9
Undeposl ted stock__ 1.w _ eLorlilard (P) pref_nuu 130
1st Os 1921
75
1Iadlson So Garden_lou '25
A-0 1(10
e 1st mtge 4s 1950-J-J (15
40
Prior lien g4 14s'30 M11 &S
155
140
stk_100
(is
Hob
&
2(i
J
C
c B'y & 7th Ave
Paterson1919
160
Con mtg g Os 1930.J &J ; 45
79 Chlin
78
45 g 1049
11anhattan Transit-fPu *
M-N
2d mtge 55 1914__J-4 /IOU 101
212
c co
sumbew5
82
asy. July 1930__
)
14
So J Gas El& Trac _100 12) 131
Con 5s1946 See Stock Exc ast
18
7,, .!_°__ .i
Gu g 58 1953
jo
ltneo
lan
M-S 9912 100
ed
gahAellia
0
51 (42
4
03
die
)
10
ltg.Coal_r?
B'way Surf 1st 5s fru 1924 102 BA
Ft W & Den Cy std-1
8 0
99
10
No Hud Co Rylls'14 J-J 100 108
C Cenel Crossen stic__1(10
Preferred
Kansas City Sou 58 Apr 1
5s 1928
Mortgage Bond Co__ -103 114
J-J 106 108
1st mtge Os 1922_111-N /
1950 (w 1)-See Stck Each list
34
Ext 55 1024___M-N 103
e Con Pk N & E R stk 100 28
Nat itys of Mexico-See S tk Ex list Nat Bank of Cuba_ -11/0 101 104
90
Pat City con 6s '31...1-D 120 122
Nat'l Surety (new)_ 100 185
e Cheer & 10th St stk 100 80
North'n Securities Stubs_ 125 135
2d Os opt 1914 A-0 101)
Col & Oth Ave 5s See Stock Exc list
Pitts Bess & L H
3612 Nevada Cons'd Copper-5 *2314 2334
50 *33
So Side El (Chic) See Ch Icaxo lit
Nev-Utah Min & Sm 1() 1.11312 2
75
DryDEB&BPreferred
50 *70
Syracuse R T 5s '46.11 &S 103 10412 eliallroad Securities CoeNew Central Coal„....20 40
e 1st gold 5s 1932__J-11) 95 100
53
rrent P & H 5s 1943J-1) 93 10)
50
•Scrip 5s 1914___F-A /45
ll' C stk tr cfs ser A '52 91 ____ NY Air Brake Os See Stck Ere list
N Y Biscuit 8s 1911-11-S 1100
Eighth Avenue stock_100 250 30) United Rys of St LSeaboard CompanyCorn vot tr ctfs
100 22i2 2314
7712 eNew York Dock---100
10u 8
e Scrip as 1014____F-A /95 100
41
0
151 preferred
100 75
711.1
ePreferred
100 71
e 42d de Gr St F'y stk_100 200 250
ePreferred
Corn & 2d nrei-See Bait (lie list
8212
Gen 48 1934_ _See Stock Exc list Seaboard Air Line42d St 111 & St N Ave_100
N Y Mtge & Seem,ty-1(13 235
e 1st mtge Os 1910.11-S 1)7 NU- Ifni tRys San Fran See Stk Lae list
5
Coil Ss ext May '11 M-S 10012 10034 N Y TransportatIou_..2u *4
9512 Unten Pacific 48 See Stir Excri list Niles-Bern-Pond corn -100 WO 101
Wash Ely & El Co
100 45
Zd Income 6s 1915 1-.1 ; 50
Jet-Preferred
100 9114 9134 West Pac 1st 58 *33..11-S 9832 983; Nipissing Mines
Inter-/let-See Stk Excl
3 *1014 1012
4s 1951
eOn tart o Silver
Lax Av &PavF 55 See Stl; tiC list
J-D 8834 89
RN
4
3
Otis Elevator com_tu
Metropol St fly-See Stk Exc 1st
o 1.)0
t;12 60
Industrial and Miami
Gas Securities
Ninth Avenue stock__100 150 170
Preferred
102
20
New York
Adams Exp e 4s 1947J-D / 9312 99
Pittsburgh BrewIng__50 *2312 2334
Second Avenue stock_101) 17
Ahmeek Mining
Preferred
e 1st mtge 58 1909_11-N 96 10, Cent UnGas 58 g '27..J&J 102 103
50 *43
25 *195 e.,00
4314
Con Gas (N Y)-See Stk Lae list
77
P
i,0
1tpts
ebAu
ifrg
Consul 5s 1948___F-A ;74
ge
h oC
io
t,
lt Esc list
Alliance Realty
co
100 115 123
oianlizitew
e)S
100 144 148
Allls-Chalmers Co 1st mtg
e Sixth Avenue stock..100 110 120 e Mutual Gas
43
44
New
b5
90
Amsterdam
Gas
Preferred tnevo„--1()0 87
AmeerlOcean1935-See Stock Each list
Sou Boulev 55 1945-_J-J
95
1st consol 5s 1948 J-J 102 103
95
Pratt & %%than pref-luu
Book
So Fer 1st 5s 1919_ _ A-0 00
100 150 155
105
NY &ERGas 1st 5s'44 J-J 105 106
Realty Assoc (Bklyn) luJ 135 143
American Brass
100 113 116
Third Avenue-See Stock Exe ilst
/50
Consol
80
Is
1945
J-J
1928
Royal Bak Powd cons 103 161) 170
Amerlcan Culele com 100 225 230
Tarry W P & M 5s
93
97
N Y & Richmond Gas 100 43
93
45
Preferred
lo, 109 110
YkersStRR5s 1946 A-0 85
preferred
100
Nor Un 1st Is 1927-11-N / 97
32
93
Am Graphophone com100 10g 19_5_ Safety Car Heat & Lt-lou 128 130
28th iSe 20th Sts 1st 53 '96 /25
e
250
200
Standard
Gas
.
com_100
70
23
Preferred
100 20 -25 - Seneca Mining
e Twenty-Third St stir 100
e
Preferred
Singer Mfg Co__ ._ _ _Wu 445 455
100 /5 - 99
Amer Hardware
IOU 130 1.36
Union fly 1st Is 1942 FA 101
1st 5s 1930
00 /5-M-N 100 105
South I & S com(w1) 100 1814 19
AmMalt1ng Os 1914--J-0 101 104
Westchest 1st 5s 43 J-J
Other
Cities
Preferred (w I) __ --100 54
Brooklur
Amer Press Assoen_100 95
5514
Am Gas & Elec. corn_50 *39
41
-- Standard Cordage-10u
Am Soda Fount com_100
12 1
Atlan Ave 5s 1909___A-0 100 101
Preferred
50 *4912 45
1st1st 11 g Is '31 red-A-0 / 24
1st preferred
100 30i 46
A-0 1)7 102
g
Con 5s 1031
26
Amer
95
100
Light
Tract..1o3
290
&
243
BB&WE 5s 1933 A-0
Adjust II Is Apr 1 1931 ---2d preferred
100
6
2
Preferred
100 10(1 107,2 Am St Found new-See S tk Ex list Sta
pnre
dfaerrr
deCoupler
Brooklyn City stock _1() 102 195
30
Bay
list
State
Ere
Gas
118
50
114
Each
cdmi
6s
1d
0
9
0
1935
Stk
Con 5s-See
A &O 10212 106
110
Y) Gas Wks
Deb 4s 1923
7112 Standard Milling
Bkn Iles 1st 55 1941 A-0 981, 10111 ilingh'en
F &A 7(1
illing Co 10() 19
20
1st g 68 1938____A&O 95
9) American Surety
Bkin oueens co & Sub1(10 68
50 214
60
6
4,012 21514
Brooklyn Un Gas-See St ic Exc Ilst American Thrdad pref__5
c 1st g Is '41 op '16_J-J 97 102
1st bs 1930
111-N
84
87
Buffalo
list
City
Exch
Gas stock100
6
7
Am Tobacco Co com_100 440 945
Con guar 5s-See Stock
Standard 011 of N J__100 702 706
1st 5s 1047-See Stock (lie 1st
Bklyn Rap Tran-See Stk Ear; list
Amer Typefders com -1 00 40
Swift & Co-See Bost Stk Lac list
43
95 Con Gas of N J 58 '36..J-J 88
e Coney 1st & Birlyn_100 80
90
1st
100
Is 1910-1914.-J -J 10034 10112
Preferred
96 i 00
85 Consumers' L H de Pow1st cons g 4s 1948__J-4 75
Amer Writing Paper_100
312 412 eTexas& Pacific Coal-100 95 100
5s 1938
J-1) 106
Brk C Se N Is 1030_J-J 07 100
100 25
2612 II tle Ins Co of N Y___100 15:i
Preferred
Denver Gas & ElLe_100 135 140
GentSeLorSt 1st 6s..11&N
1st s 1 e 5s 19 op'09-J-J 87
ronopah Min (Nevada)_1
88
*672
dig
Gen g 5s 1049 op-M-N 96
Kings C El 4s-See Stock Lac gt9/
AtIGt &WInd SS 1,.ines 100
012 1012 rrenton Potteries comb))
4
7
Elizabeth Gas Lt Co_100 275Preferred.
Nassau Mee pref___100
Preferred, new--__100
100 29
3012
50
60
Essex
&
1116"
Hudson
5s 1044
Gas_100
fir
132
7
0
0
7
42
1
1,1 r1,pe
ecto
u
rrnotw
wry
A-0
riter c0:100
,n1)
Col tr g 53 1959
-J-J / 3
3212
-- Gas & El Bergen Co_100 74
1st 4s 1051-See Stock Exe list
-- Barney & Smith Car_100
liOul)
0 .
1:7:- 99
05 e Gr Rap Gist 58 15-F-A 99 102
1st preferred
N W'lig &Flat 1st ex 4 ;is 00
Preferred
100
135
118
Hudson Co Gas
Steinway 1st Os 19224-.1 100 109
Zd preferred
100 130 132
Bethl m SteelCorp--SeeS lk9p852 5t
1.18
Indiana Lighting Co- 100 32
Other Cities
United Bk Note Corp34
50 118 123
Bliss Company com
115
000
00 *5
33.2
00
57
45 1958 op
Buffalo Street HYF-A
50 *52
50 123 DO
72
70
Preferred _
57
55
109
1931
consol
107
F
-A
Indianapolis
Gas
red
50 25
30
feC
_ UnPite
rriegdar Mfrs-- -100 78
1st
Bond & Mtge Guar___100 2270
79
A-0 106 108
1st g 5s 11)52
90
ePref erred
Deb 63 1917
A-0 75
Borden's Cond Milk- 100 120 03
110
preferred
98
0212
Columbus (0) St Ry-100 96
Jackson Gas bs g
United Copper
88
100 105 110
1012
103
103
106
e Laclede Gas
Preferred
3 11.672 718
100 103
Preferred
Britlsb Col Copper
90
e Preferred -_____100 ___ 100
Colum By con 5s-SeePh la list
Butte Coalition 'Alining 15 *2514 2538 U S Casualty
100 2215 220
Crosst'wn 1st 5s '33 J-D 100 104
212 4
Madison Gas 65 1926-A-0 103 108 Casein Co of Am com-100
U S Envelope com
ln 1(8
)
47
52
77
Newark Gas 6s 1944-Q-J 131 133
100 55
Preferred
eConn fly & Ltgcotn_100 75
Preferred
65
113
100 10
85
ePreferred
Newark Consol Gas__100 0934 10012 Casualty Co of Amer-100 125 140
U S Finishing-- ....- --11.()
00 1,
016
Stk
Exe
list
____
e
ref
13412
10832
Con
g
bs
100
Celluloid Co
1st &
Preferred1948--J-D
116
10() 10434 10712 No Hudson L H & PowGrand Rap.ds Ry
Cent Fireworks oom-100 --7
9
U S Steel Corporation9014
.....10u
513 1938
Preferred
cen
Ptrr
ea
A-0 106
70
fe
i rr
Col tr a f ba '51 opt '11 11434 1151a
ri.....100 60
Found
ed_---- 11)812 Pat & Pas Gas& Elec-100 90 -91e Loulsv St 5s 1931.1__J&J 1073
100
234 314
Col tr s 1 Ss '51 not opt 11434 11518
Lynn & Bos 1st 55 24 J- I)
100
e Con g Is 1949.._hl S 102 104
16
18
U S 'lit Gu & Indem-100 60
Preferred
e New On Itys & Lgt-100 1914 -1934
- St Joseph Gas 5s 1937-J-J 95
0712
Deb 6s 1919 op '01 M-N
65
8
72
70 eUtah Copper Co-See Stk Exe list
1011 4712 4312
8 Preferred
Chp
lelegr & Telephone
es
ref
ebero
rru
ed
gh Mfg Co-100 520 570
Waterbury Co, com-100
Gen M g 4 465 '35 See S tic Ex list eAmer Teieg & Cable_100 81
86 City Investing Co...-100
100 1-Preferred
--::
Pub Serv Corp of N J.100 107 109 ':Central de So Amer_100
100 101
Westchester & Bronx 'lit
9212 93 Commit Un Tel (NY)_25 11
Tr ctfs 2% to 6 %perpeC
20
7
eCiallIn (II B), com-100 100 103
410 1 1
---& Mtge Guar
100
55
Coll 5s g notes '09_11-N 10012 10032 Emp & Bay State Tel 100 65
109 91
76
61St preferred
Westingh Air Brake___50 *11712
95
65
North Jersey St fly 100 45
Franklin
100 92
100 40
45
eZd preferred
9712 West El & Mfg Os-See St Sae &sr'
78
80 !Gold & Stock Teleg _100 100 115
1st 4s 1948._ _M-N
Col & Hock Coal&I pt 100
10
90
White Knob IBA
7712 N Y & N Prelepla-See St it Hu list
Cons Tract of N J 100 77
J-J
1st g 68 1917
10
1st 5s 1933
J-D 10612 10714 eNorthwestern Teleg_5() 1()8 114
Col tr 6s Oct 1956-_J-J -93106
Wo
Prre
104
thl
fea
rre
gP
dcImp Prof-1
"
New'kPa,trRy 55 '30 J-J 108 110
Paclfic & A tlastle
25 70
78 Consol Car fleating_100 25
30
Southern oe Atiantlo_25 9(1 100 (Jona Rv Let&Refrie-100
*Per snare. cs Ex-rtglata. 7 Basis. o Sells on Stk. Ex., but not very aetive. /Flat price. r: No'
- Sale price. zEx-d5y.
y Ex-r ghts. slieW stook.
Outside Securities
12 IN
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
Au7. 14
Monday
Aug. 16
Tuesday
Au.). 17
Wednesday
Aug. 18
Thursday
Aug 11)
Friday
Aug 20
Scam
ol the
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range since Jan. 1
1909.
Lowest
Highal
Range for P-etious 1'rai
(1908)
Lowest
Highest
Railroads
6758 Feb 10114 Dee
2,061 Atch Top dc Santa Fe_100 us Jan 13 12034 Aug11.
120 12012 11938 11938 11778 118
11938 120
118 119
11878 119
8312 MCI 10414 Deo
100 30034 Ja:: 15 106 Joe i
Do pref
11
105
*10412 10434 *1041. 105Ir *10412 10512 *10412 1051. 10434 10434 105
100 225 Jan 4 23914 Apr 8 18113 Jan 230 Deo
75 i3oston & Albany
23014 23014 230 21112 231 231 *-_-_ 231
230 - 230
230 230
100 12414 4a:: ; 13218 Apr 22 41211, Dec 140 Jan
408 Boston Elevated
12758 12758 12758 12758 12758 12838 12812 12858 12858 12858 12858 12858
100 234 Jan 12 235 Alch19 20014 Feb 228 Dec
5 Boston & Lowell
228 228 *____ 228 *____ 228 *____ 228 *__-- 228
*___ 228
100 13212 :,an 2 150 J'nel5 114 Oct 140 Jan
145
145
145 145
197 Boston & Maine
145 146
145 14612 *____ 145
*14612 147
100 151 Feb 26 160 Apr 4 136 Feb 156 Jan
Do pref
_
Last Sale 152 July'09 ____
_
_ __
__ __
_
Jan 301 Nov
1 Boston & Providence_100 20 Apr 26 301 Jan 9 '284
.*298_..._
. 12 _,._ 555 3116 ,ai;
*____ go. 4:2
13 ;.• en
9 Alcl
1134 Jan 2 22 Feb :1
'
310 Boston Suburban El Cos_
*_ 17 *__ 17 *____ 17 5____ Ti 5____ 17
58 Nov
45 Jan
4
Feb
75
5
Jan
t012
pref
---150
Do
---70
69
69
70
*____
4.____
70
*__ 70 *__No
17
Jan
812
12
Mch
1412
10
Cos
May10
12 *___ 13 *13
10
____
12
10
16 Boston& Wor Etec
*___ 13 *__ 13
6012.11 ii
471.. Dec
52 Jal 5 5812 Apr 21
*54
Do pref
__
155
5212 5212 4........ 54 5.,., 54
54
*5212 5412 54
15114 Dec
Jan
126
J'ne24
162
25
.'an
143
USY_100
&
Ry
June
Last
Sale
159
---Chic
Aug
-'09 ------- --- ---- --- ---- -----12012 Dec
102 Jan
100 116 Alch19 123 J'ly b
117
Do pref
19
117
____ _-- 117 117
__ ____
5____ 120
men
Last Sale 170 July'09 ---- Con & Mont, Class 4_ _100 170 Jan 26 173 Men 5 163 Dec 166 Anr
-- --_ --- _..
138
Sep
13314
Mch25
12
142
2
Jan
139
pref_100
,
Last
Sal
__
13912
Riv
_.___
June'09 -- Conn & Pass
*139 ____
--- -----263
Dec
Jan
244
Mehl..
275
Last sale 270,June'09 ---- Connecticut River_100 267 Jan 15
*27212 275
133 Nov
100 129 J'ly 29 136 Feb 5 117 Jan
86 Fitchburc, pref
1.51. filit 13112 13112 *13312 __
_ _ 131 131 131 Cif
*130
86 Dec
61 Apr
9434 J'ne 16
100 75 Jan ti
93
10 Ga Ry & ElectrP
9414 9414 93
94
*92
93
*94 -94-12 94
85 Dec
81 Oct
100 74) Jan 14 88 J'ne21,
Do pref
87 *- -- 87 ---------15
87
87
*___ 88 4... _ _ _ 87 *__
_
100 19514 Ja-. 13 19514 Jan 1:; 193 Nov 193 Nov
-Last Sal, 19514 Jan'09
___ Maine Central,
1334 Nov
Jan
12
814
Feb
15
12
Jan
100
1114
14
14
Cos
Electric
1312
14
5:443 Mass
4
"iif(3 II2 "Mi.4 Tii8 -ii- Iii2 74144 14164 Nor
40 Jan
7514 Aug16
100 5812 Jan 15
74
*73
7412 74
Do pref
7412 2,080
7414 7514 7412 75
73
73
161 Noy128 Jan
171
1,656 N Ir N H & Hartford_ 100 157 Jail 21 17478 J'ne 14
171 17134 17112 17134 171 17112 171 17134 171 17134 171
145 Apr
100 146 Feb 4 149 Aug 9 140 Jne
Last Sale 149 Aug'0: ___ Northern N H
Feb
Last Sale 200 Aprll'09
___ Norwich & Wor pref _100 200 Apr 13 209 Men13 '200 Aps l05
19618 Dec
200 200
200 200 *____ 200
100 194 Jan 5 20018 Jan 's 175 Jar
200
200 200
201
200
*
- 38 Old Colony
Dec
14
Jan
5
r6
J'ne
40
27
26
Apr
_100
_
Last Sale 3612 Aug'09 __-- Rutland pret
_
__ _'.....
_
__
;36
41
lib Dec
70 Feb
100 6014 Mch ', 11712 Aug16
100 Seattle Electric
- ---- -___
11712 11712 116 11-6 *116 117 *_.22 1161,
117 117
88 Jan 102 Dee
100 9712 Apr 5 10612 Aug 4
Do pref
50
*10534 ,- ..-, -__
106 106 *105 107 *104 106 *10512
8 Nov
1855
•
Mel
11012
21834
Aug
It
26
100 117278 Feb
4 2085s i1018 20434 2061; 3,214 Union Pacific
-23-21378 21778 21734 21834 212 21518 21114 21
8 Any
97,
7834 API
Do pref
100 9312 Mch 2 11714 Aug16
65
*117 11712 11714 11714 113 113 *10912 11012 11014 11014 ,,-161 Nov
100 165 Jan 20 175 Apr 17 150 Jan
Last Sale 172 Aug'09 -___ Vermont Fe Mass
9112 Seo
76 Jan
50 88 Jan , 0818 Apr 23
98
27 West End St
,- 9514 -6E12 92 igiz iiii -9512 e96
552,
Dec
110
96 Jan
50 103 J'ne25 112 Apr 27
106
Do pref
10156
10612 10612 4.„-108 *106 108 *9810612 1(1612 *10612 108
Last Sale 145 July'09 ---- Worc Nash & Roch_100 144 Mch12 1413 Alayli; 138 J'ly 140 siea
Miscellaneous
35 Nov
13 Jan
48
48
47
4614 4612 3,274 Amer AgrIcul Chem 100 3314 Jan '2 5014 Aug12
4834 47
4712 4838 47
4834 49
96 Nov
77 Mei
100 94 Jan U, 105 J'ly 23
Do pref
10312 104
330
104 10412 10312 10412 103 104
*10312 10412 104 104
12 Dec
Feb
23
4
Feb
1178
50
558Jan 2t•
8
814
814 812
8
812
818 818
858 858
814
834 1,472 Amer Pneu Service
23 Dec
912 Feb
22 J'nel4
50 13 Jan 1.
Do pret
21
2,987
20
2078 1912 2014 20
20
20
19
*1912 20
20
Nov
1375)
9914
8
API'
Jan
100
Ret1n
12112
136
-13112
12912
J'ne22
Sugar
13058
Amer
13078
913
*132 13212 13112 13212 131 131. *131 13112
100 120 J'ne2b 131 Apr 13 106 Feb 132 Nov
Do pref
542
127
12712 12712 12612 12712 126
127 127
127 12714 127 127
13212 Nov
99 Jan
8,276 Amer Telep & Teleg 100 12514 Feb 1 14112 Aug . •
141 142
14034 14134 140 1403i 13912 140
14112 142
14158 142
3238 Dec
16 Jan
3758 38
475 American Woolen___ _100 2712 Feb 4 3938 Aug 0
3734 3814 3734 38
3812 3834 3712 38
*3812 39
9612. Nov
7734 Fel,
100 9312 Jan 15 108 Joel)
34 105
Do pre
017
105 105113 10412 105
10412 105
10412 105
10412 105
412 Dee
Aug 3
Jan
3
712
10
334
1
Land
Apr
Boston
..,714
-------350
714
*714
712
8
*712
714 714 *712 8
96'2 Jan 128 Nov
89 Cumb Telep & Teleg_100 125 Jan 25 14512 J'ly 29
1447
143 143 *143
143 144
*14212 145 *143 145 *143 145
2114 Deo
1434 Jan
4614 J'ly 19
1812 Jan 1.
Last Sale 45
Aug'09_-- Dominion Iron & Steel__
*4412 4512 *4412 4512 *445s 4538 *4434 4512
11%s 1,0,,
914 MCI
1378 J'ne .4
11
7 Jan 4
*1012 11
2:035 East Boston Land
• 1112 1112 1114 1134 1012 1138 1114 1112 11
Nov
252
252 252
252
146 Edison Elec Illum_100 245 Jan 2 260 Apr '‘ '201 Mcl 253
252 254
250 250
252 253
*248 254
100 15038 Feb 24 173 Aug 1 111 Jan 162 Dec
166
16634
620 General Electric
169 16934 167 167
16812 169
*16934 17014 169 169
60 Dec
49 Alc.
12
Apr
6712
5
Jan
59
100
MassachusettsGasCos
1,420
65
6518 6518 6518 6558 6514 6512 65
65
65
6518 65
90 Nov
77 Jan
100 80 Jan 5 97 Apr Z..
Do pret
91
610
*9038 9114 9034 9034 91
9034 0034 9034 9034 9034 91
Apr 215 Nov
212
125 Mergenthaler Lino_100 2024 Mch12 '220 Feb 17 192
*211 21214 212 21214 *212 21214 21214 21214 212 21214 212
3 Oct
Ale1
1
Ale1,29
3
5
Telephone
10
2
Jan
Mexican
257
258
278
212 212 *2
283
212 212 *212 234 *2
2511
78 Nov
40 Mel
100 68 Apr 29 98 J'neli
530 N E Cotton Yarn
95
9412 9412 *9412 9512 9412 9412
95
95
95
95
95
93 Dec
100 93 Jan .: 110 J'ne I, 75 Mei
Do pret
106
95
10612
*106 108
10612 10612 10612 10612 *10612 107 *10612 107
128 Nov
, 198 Aug12 105 Jan
100 12614 Jan.,
137
193 N E Telephone
137
137 137
137 13714 13612 13612 137 13712 13612 137
79 Dec
5112 Pill
_
125 Pacific Coast Power 100 75 Feb 6 10% 18 Aug17
100 100
100 10018 9912 100 *9912 10018 ___
98 100
17412 Nov
199 Aug 7 147 Jan
30
Jan
168
100
Co
Puilma:'
28
19
*
6
*195
196
196
198
*196
19812
19812
19834 199
1012 Nov
9 Apr
11
J'ne
1112
4
11
98
10
Button-Hole.,
-----Jan
---Reece
35
___
1112 1112 *11
*11
11
1112 11
*11
8812 Jan
10812 J'ly
100 100 Jan 9 11412 Aug 6
11012 1,234 Swift & Co
11014 104 110
111 11178 11058 11158 11014 1103-4 11034 111
24 Oct
20 Jan
Aug13
25
Class
A.._
25
Torrington.
May21
2012
25
-_
25
20
25
*24
25
*24
25
*24
25
*24
2612 Dec
23 May
25 2414 Jan 29 2714 Anglo
Do pret
Au-g'09
Last Sal, 27
5
*2612 2712 *2612 2712 *2612 2712 *2612 2712
212Jan
114 Ma
2 Apr 2
1 Jan 26
Last Sal, 134
___ Union Cop L'd & Arg_ 25
Aug'09
____
148 J'ly
15012 Aug16 11412.1an
1:
150
Jan
148
12612
14734
Fruit
United
148
100
1,306
15012
Iiii"
iiii" Ili" ii2 1E61-2 HO- 1E68Nov
623
Jan
Jan
14
3812
6614
Mach
Shoe
25
Corp
r54
Mehl"
6412
6412
6418
Un
6412 1,661
6538
65
6514 6434 644 6434 65
65
'..:(1 Nov
247 Jan
3024 Mch b
Do pret
25 2812 Jan 11
619
3012 3012 3012 3012 3038 3012 3012 3012 3018 3012 3014 303.1
5834 Nov
26 Jan
Aug12
7834
Corp
,
2
100
4134
Steel
Feb
S
U
7512
8
735
24,496
7
7
7512
8
784
767
7812
7612
7834
7678
7634 79
8712 Jan 114 Nov
100 107 Feb 23 12958 Aug 1
Do __14ret
179
12610 12712 12518 126 *12514 12534 12534 12534 12414 125
12534 127
912 Nov
4 Feb
1334 May 5
____
__
12
618 Jan 11
123 West Telep (.6 Teleg_ _100
1114 1034 1034 *11
*1114 1134 1151i 1158 11
8014 Dec
15
59 Jan
J'ly
90
pref
3
76
Mch
100
Do
90
-*88
76
--89
89
90
*89
89
89
90
90
Mining
1214 Aug
112 Feb
1012 51ay2s
6 J'ly 14
25
363 Adventure Con
634
7
7
634
712 712
714 714
733 712
*714 712
4112 Nov
24 Apr
25 34 Jan '29 4812 Aug12
45
705 Allouez
46
4618 4612 4512 4512 45
4712 4712 46
48
48
8518 Nov
45 Fel,
83
8458 29,094 Amalgamated Copper 100 65 Feb 26 8878 Aug12
8478 8614 8458 33338 8378 85
8534 8658 8534 87
:30 J'ne
2034 Jan
25 23 Mc627 3234 Aug a
3038 2,450 Am Zinc Lead & Sm
3158 3018 303i 30
3112 3112 3178 31
31
3112 32
53 Nov
28 Feb
25 3818 Feb 26 5158 J'ne 4
Last Sate 41
Aug'Ou ._ - _ Anaconda
-- ------ ---- -43--- ---- ---- ---- 4314
4058 Dec
14 Jan
4314 4212 4318 2,600 Arizona Commercial
25 30 Feb 2., 4614 May S
34 4434 4312 4412
4434 4538
45
45
.90 Aug
.40 Feb
1 Feb 1,
25 46 Feb 17
Last Sale 14
. *12 1
___ Arnold
*12 1
July'09
*12 1
*12 1
1912 Nov
Apl
8
2
Jan
18
16
J'ly
Atlantic
8
25
2
103
1114
1032
1034
11
11
11
2:230
1138 1053
1112 11
11
.75 Nov
Last Sale .55 Aug'09_ Bonanza (Dev Co)_ 10 .46 Feb 16 .80 May 1 .25 Oct
5.55 .60 5.55 .65 5.55 .65 5.55 .65
1818 Nov
1014 Apr
1714 May 8
1512 1578 1514 1512
1
1034 Mch lb
1534 16
151 1-;(5i0 BostonCon C&G (ret-s) 11
1614
1612 16
16
25 Nov
1114 Apr
5 1718 J'ly 14 2258Jan 2
2018 19114 1934 ------ 1,145 Bos&CorbCop&SIIMg
*2034 21
2012 2011 1934 2012 20
30 Aug
1513 Jan
28 May 8
eCtoalltAlorn
15 2138 Feb 24
2512 25
05
;i
4
/.12 3,607360
2512 2558 25
2534 2534 2534 2614 2512 26
93 Feb 130 Aug
110 Jan 4
3
May
9814
Arizona.
10
_
105
10
Calumet
105
10612
106
109
106
108
106
108 108
Mel, 700 Jan
25 585 Feb 23 695 Aug13 065 Feb
6'75 , 680
46 Calumet & Hecla
684 685 *680 685 683 683
685 685
*-_ 690
3634 Nov
21
3714 Aug12
25 29 Feb 1
35
3484 35 ,.-3412 3412
-.T. 500 Centennial
36
3614 3614 36
,25 Mel, .,.5 Joe
.35 .an 15
J'ne26
.10
Mercur
1
_
Gold__
.25
Cons
Sale
Au
_
g'09
Last
.26
5.22
.25
.25
*.23
'.25
'1..23
5.23
834 Nov
Feb
5514
Aug12
8514
26
8112
Feb
Range
Con
CO
100
Copper
6812
8212
8214 6:027
8134
1178 Nov
8314 8414 8278 8318 8234 8318 8258 83
7 Jan
712 May28 12 Alch 19
20
9
*812
250 Daly-West
834 834 *812 9
9
9
9
912 • 9
10 Dec
*9
834 Dec
1658 Apr 211
712 Feb 1
10
1138 1114 1112 5,624 East Butte Cop Alin
1114 1138 11
1212 1112 12
1214 1234 12
234 Nov
Mel
.99
15
Jan
212
6
Aug
132
12
Aug'09 ' „, Elm River
Last Sale 134
*112 178 *112 178 *112 134 *112 134
Apr
1912 Nov
612
:3
Aug
25 13 Feb 25 19
1614 1612 1614 1614 1614 1614 *1634 --_- 1,747 Franklin
1714 1658 17
17
Aug '2
1014
16
J'ne
738
5
Consolidated_
Giroux
2,937
10
8
7
1018
9
10
1018
10
973 .._ v78
10
10
10
10
80 Jan 110 J'ly
4
58 Granby Consolidated_100 90 Feb 213 110 Jan
100
100
100 102
102
102 102
105 105 *-105 105
673 Jan
1318 Aug
9 Feb 26 1234 Ja a 2
20
912 3,753 Greene Cananea
912
912 934
953 934
978 10
518 975
10
10
J'ne 10
1214
29
.1'.1%.
912
25
Hancock
Consolidated
615
,1078 1078 1012 1078 1012 1034 1033 1012 1014 1014 --.
0
Aug
712
21
J'ly
6
714
714
25
714 712
il4 --714 3,480 Helvetia Copper
714 738
714 712
714 714
2614 Jan
1734 Feb
1'
2,060 Isle Royale (Copper). 25 2218 Apr 27 3314 Feb
274 2634 27
27
2834 2834 2778 2814 2712 2812 2734 28
938 Aug 10
712 Apr 30
5
914 20,608 Kerr Lake
812 878
834
878 938
814 814
814 814
*818 814
Sep
10
2414
11'
Dec
Aug
39
:30
25 16 Jan
36
37 16,656 Lake Copper
38
36
3734 3714 39
36
3558 3712 3534 37
1214 Jan
1714 Jan
25 1034 J'ly 10 1634 Feb 16
1414
905 La Salle Copper
1412 1434 1412 1412 14
1512 1512 1512 1434 15
15
214 Mch
May28
Aug
Vis
1814
Afch
I.
25
Mass
414
Consol
600
734 734
712
734
8
8
84
8
812 812 *812 878
.75 J'ly
25 .30 Apr 29 .10 fly 2 .25 Jan
Mayflower
Last Sale .7() Aug'09 _
5.60 .70 *.60 .70 5.60 .70 5.60 .70
310 Dec
8 Jan
514 Alay10
16
Apr
M
&
10
Cons
312
S._
Mexico
325
*434 514 *434 514 ,T.
514
5
5
82-1 Sep
513 514 *5
1512 Deo
171, Aug 5
5 1224 Feb 20
3,610 Mlaml Copper
1634 1634 1618 1634 1613 1618 1618 1658 154 1638 1578 -1-6
714 Feb
1512 Nov
g Aug 19 1314 Mch 4
25
9
834
8
834
595 Michigan
912
9
934
1058 1058 *1014 11 5-_-45 Feb
73 Nov
7013 Jan 8
1(3
J'ly
25
Mohawk
r5712
62
63
63
110
*__
63
63
6434
6434
6412
64
64
.22 Dec
6
Apr
138 Jan
.40
11
Feb
Consol
C
Montana
C
&
10
.19
1,900
36
5.35 .40 5.30 .35 .35 .35 5.30
.35 .35 *__-.35 .35
818 Jan
2034 Nov
5 1642 Feb 26 2518 Aug12
244 2478 2438 2478 2418 2412 2414 2434 2378 2414 2312 2358 4,028 Nevada Consolidated_
1138 J'ly 20
17
Aug
1014
Mines
Nipissing
6
8
103
1012
1038
1038
1,510
1012
8
*1058 1034 1012 1078 1014 1034 103
4034 Feb
8934 Nov
15 4314 J'ly 16 3514 .a:: 2
5714 56
59 13,509 North Butte
5714 6812 5614 5814 5612 5778 56
5812 60
412 Mch22 1178 Aug 9
1038 1034
978 1012 14,285 North Lake($8 pald)- 25
1084 11
1114 1078 1114 1038 11
11
1 fly.
Aug 6 .50 Jan
.75
J'ne21
.40
Colony
25
Sale
.75
Old
Aug'09
____
Last
..
_
5.60-- *.60 -- *.60 --- 5.60
28 Jan
6012 Deo
25 4714 Feb 24 59 Augll
940 Old Dominion
5712 -5712 5614 -156-14 5512 5512 5512 5612
58 -58
*5712 58
77
Feb
Augll
13512
Deo
25 122 Feb V 149 J'ne 10
348 Osceola
14412 14412
14512 14512 145 145
146 14612 145 146
145 145
3614
:3118 Dec
1012Jan
3212 4,413 Parrott (Silver & Cop) 10 26 Feb i
3318 32
33
3334 3334 3414 3312 34
3334 33
33
17
4
.lan
Feb
WO
Aug
99
1
Feb
25 85
91
92
93
*91
182 Quincy
92
92
93
9312 9312 9312 9312 *92
158 Ap.
333 Nov
278 Jan 8
2 Feb 25
214
218 218 ,218 212 *218 214
214
133 Santa Fe (Gold & Cop) 10
*214 212 *214 212
934 Feb
Jan 4
1914
Nov
1778
26
Feb
1312
10
Shannon
16
1512
1578
153
4
8
3,991
163
1612 1658 1612 1634 16
1628 16
14 Apr
Aug 3
3612 Nov
57
3,270 Superior _ __ ..•_il_ 25 34 Jan 5 6212 11/1.3..28
58
5614 5612 56
5834 5778 5818 57
5834 58
58
1812
_14 Mch24
1512 16
in10
15113 1512 1,169 Superior&loston
1578 16
16
16
1618 1614 16
16
2018 Nov
1418 Oct
1812 J'ly 11
1658 1658 1612 1612 1612 1612 1,275 superior&Pitts Copp_ 10 1278 Apr 27
174, 174 1678 1718 1658 17
56 Mel, 88 Nov
25 82 J'ly 16 90 Feb 25
70
68
*68
68
35 Tamarack
71
*69
70
71
70
*70
75
*73
1218 Feb
25 Aug
1758 Jan 23
25 1012 J'ne 21
1314 1218 13
1312 13
585 TrinIty
*1312 1334 1334 1324 1334 1334
458 MO
1612 Nov
1614 Jan s
814 J'ne 22
100
Last Sale 953 Aug'09 1:_
United Copper
..
13.. 1034 _---- -- *1014 1034 *10
9 Mch
3934 Nov
980 United StatesCoal&011 25 28 Jan 12 38 Aug12
37
37
3618 3612 3534 3614 36 -3612 3514' 3578 3514 3534
28 Mcb
Aug 12
4678 Nov
5718
534
.Si
'25
Ref
5238
Feb
Smelt
Mln_
50
39
5412
S
5312
U
5514
46,791
5412
5538 5612 5473 5014 5412 5514
37 Feb
47 Nov
Do pret
50 44 Jan 8 5312 Aug13
5112 52
5212 5134 52
3,198
53
53
5212 5212 5212 5234 52
7 Nov
438,Sep
634 Jan 26
5
414 Aug 17
5
5
412
57 Utah-Apex Mining
412
*412 5
*458 478
414 414 *434 478
2912jan
Augll
Aug
50
4812
24
44
Feb
5
3714
Consolidated
4414
Utah
4
443
2,272
4414
4614 4634 4512 4612 45
4512
4512 45
Nov
58
May
284
Aug12
54
26
5148
Co
10 3934 Feb
5078 5078 50
458 Utah Copper
52
*5212 5312 *5214
__
5238 5238 52
5 Nov
212 Apr
512 May 6
358Jan 6
25
412
414
414
225 Victoria
434 *4
413 412 *912 --5
413 412 *4
et34 Nov
412 Jan
634 Aug 14
434 Apr 30
25
6
6
2,215 Winona
614 614
612 634
614 612
618 64
6
614
Jan
155 Nov
_ 156 156
155
60 Wolverine
'5 139 Mchls 158 Aug12 11512
156 156 *156
158 158 *__ 158
.50 118av 2h Oct
lit
Tan:
4
tn. A nr 9./
9a
am IN vanfint. _
_ -234 23, ---23, 234 *255, -3
234 234
*234 3
Ex stock dly. 71 Ex-rights. a Ex-dtv. and rights.
c netore pay't of assess ts called in 1900. • Bid and asked prices. a New stock. e Ass't paid.
-iir
Boston Bond i?,cord
AUG. 21 1909.;
BONDS
BOSTON STOCK EXCIPGE
WEEK ENDING AuhusT 20
Price
Friday
August 20
7;75
GP
_High
Low
9338
9334 34
10438 105
/
419 •..•
83 Mar1
1.3 Aug'09 ...•
1001
/
4100N 1005. 100,-,
941
/
4 92% J'zie'09 •..•
92
U4'. 93 -Ply'09 ••.•
92
116 J'ly'09 . .•
117 118 12014 Aug'09 .•.•
2,
'12
71 Sale, It
110 Feb'04
10014 Ilar'011
1045. Oct '06
11212Jan '0:3
104 Oct '07
102 Sep '05
99,2Jan'09
100 J'ne'01
117 J'ne'08
1111
/
4 Jily'05
891
/
4
89/
1
4
891
/
4
1103 Oct '07
91138 Jily'09
100 Apr'08
991
/
4•Pne•09
192 Muy'09
9133e keeb'09
1.1018Jily '011
•
Km
Am Telen & Tel coil tr 48.1929 J.J
1)313 M.8
Convertible 4s
Am Writ Patter 1st s 5sg 1919 J -J
Aria Corn Cop 1st cons' Os 1918 31-S
Aten Ton & S Fe gen g 45..1995 A-0
Adjustment g 48.....Ply 1995 Nov
J'ly 1995 M-N
Stamped
1935 J-D
50-year cony 45
1917 J-1)
10-year cony 38
Atl Gulf & W 1 SS Lines 38.'59 J -J
Boston Elect L eonSOI 68 1924 31-S
1916 J.J
Boston & Lowell 45
1944 J
Boston & Maine 41
/
4s
Boston Terminal 1st 3'28 1947 F-A
1918 J -J
Bur & Mo Ely ex Os
1918 J -J
Non-exempt Os
1910 J -J
Sinking fund 4s
Butte & Boston 1st 68- 1917 A-0
Cedar Rap & Molt let 78 1916 M-N
1909 J
26 7s
Cent Vermt 1st g48..May1920
Iowa Div 1st 58 1919 A-0
CB&
1919 A-0
Iowa Div 1st 4s
1411 M-21
Debenture 55
1922 F-A
Denver Exten 45
1927 M-N
Nebraska Exton 4s
1921 M-S
B&SWst 45
1949 J -J
/
4s
Illinois Div 31
Joint bonds See CIL Northern
Ohio Jo Hy & SLR Yds 5s.1915 J -J
Coll trust retunding g 481940 A-0
Oh Mil & St P Dub D 68_1920 J
Ch M ab St P Wie V dm 651920 J.J
Chic& No Mien 1st gu 56.1931 M-N
1921 .I-D
Chic & W Mich gen 5s
Concord 85 Mont cons 45_1920 J-D
Conn & Pass R let g
A-0
Current Hirer 1st 58
1127 A-0
Del Or hap & W 1st 48 1946 A-0
Dominion Coal 1st a t 5s 1940 M-N
Men burg 48
1919 M.S
48
1927 M-S
fremt Elk & Alo V Ist 68 1933 A-0
Unstampeo 1st 6s
1031 A-0
Bt Nor C 11 & Q coll tr 48 1921 J -J
Registered 4s
1921 Q-J
Week's
Range or
Last Sale
Ask
9334 Sale
Range
Since
January I
Low Plign
/
4
91N 961
921
/
4 19678
83
83
130 190
100 101'.,
92% 9138
93
1(45.
102 h 116
/
4
/
4 1201
1071
73
59
1001
/
4 1001
/
4
/
4 99
911
81
130/
1
4
/
4
9938 1001
995.100
101 ,, 102
98% 9,38
90% 92
10234 Sale 102N 10234
o 102 104
94
94 J'ly'09
91
11814 Feb'011
/
4
1181
/
4 1181
126 11/
1
46'05
1024 Aug'01,
102
101 102.4
104
106 Jily'09
102 106,,
91 Dec'07
1121
/
4 Jan '03
96
96 Feb'09
96
905.J'ly'19
87
90
9,1
/
4
/
4
97
971
97 Aug'09
1035.Api'09
96 Apr'Oo
133 133
133 Mar'09
...... •...• 1411 Apr'05
1 91/
981
/
4 29 97,
98 kit& 97%
7
9'7 J'1.y'09
9738 981
/
4
463
BON Ds
BOSTON STOCK EXCH'GE
WEEK ENDING AUGUST 20
Price
Fridah
August 20
Week's
Range or
Tx se Sale
Range
Since
January
Bid
bow 1ii h
Ash Low
ti
Illinois Steel deben 5s....1910 J -J
10014 10034
1001
,Aug'09
Non-convert deben 58. .1913 A-0
0018 1015.
101
11
La Falls &sioux Clst 7s. 1917 A-0
117 Apr'Ot
Rau C Clin & Sur 1st 58...1929 A-0 94
9614
94
96
961
96'4
/
4
Kan C Ft S& Gulf ext 56..1911 J -D
1001
/
4 101
101 Ply
Ran C Ft Scott & 51 68....1928 M-N 1195,
/
4
11934 J'ne'09
1161
/
4 1201
Kan C At & B gen 4s
1934 M-S
113
1.t0
93
1(3 Aug'09
Assented income 58
1934 M.S
90
'31
91
865. 91
Kan C .s, M Ry & Br 1st 581929 A-0 105
1031
/
4 104
104 J'ne'09
Maine Cent cons 1st 78 1912 A-0
11314 Nov'thi
Cons 1st 48
1912 A-0
101 14 Sep'05
Marc Hough & Ont 1st 68 1025 A-0
115 J'ne'llS
Mass Gas 4's (recta)
1,129
9134
/
4 100
99N 2i 981
Mexican Central cons 48 1911 J-J
86 Mar'09
8138 86
lst cons inc 3s
Jan i939
1116 Apr'06
Vd Cons inc 3s
Jan 1939 J'ly
1;15 14 Apr'0ich Teleplst 5s
1917 J- J
stinne Gen Elec con It 58 1929 J -J
1025.Aug'04
New Eng Cot Yarn 68. 1929 F -A
104 12 1041
/
4 22 1021
/
4 104%
New Eng Teleph 55
1915 A-0
102 Feb'th,
102 102
1916 A-0
100h sop'Ot
New England eons g 5s 1945 J -J
1939 A-0
Boston Term 1st 4s
N YN H85 H con deb 31
108,4 Aug'09
/
481956 .1.1
975.1085.
Cony deb Os (Ws)
138 14 Aug'im
1945 J -J
:34 1381
/
4
Old Colony gold 4s
101 Apr'09
1924 F -A
101 101.
0reg Ry 3, Nay con g 45 1946 J-1)
4,96143'1y'Ut
oreg Sh Line 1st g Ws. _1922 F-A
[1874 Alar'09
t18% 1191
/
4
Repub Valley 1st s f 08 1919 J -J
105 Dea'08
Rutland 1st con gen 41
1.0712 Nov'05
/
48 1941 J -J
Rutland-Canadian 1st 481949 J -J
102 5Iat'02
Savannah Elec 1st eons 58 1952 J -J
981
/
43lay'06
Seattle Elea 1st g 5s
106 Aug'09
1930 F-A
1051
/
4 10612
Terre Haute Elea g Os. 1929 J -J
97 Apr'07
991
/
4 Nor'06
Torrington 1st g Its
1918 141-s
Union Pan RR &I gr g 48 1947 J -J
10238 Apr'09
10214 1031
/
4
20-year cony 414
11012 J'ne'011
10238 1101
/
4
1927 J-J
Uniten Fruit gen s 1 41
9634
97
20 95% 97
/
48 1923 J-J
9614 W;l"
U S Coal & Oil 1st s 68 1938 MN
160 Aug 011
120 135
US Steel Corp 10-60 yr 56 1963 31-N
1075. Aug'09
1021
/
4 108/
1
4
West End Street ity 48. 1915 F-A
1005. Apr'09
100121001
/
4
Gold 4½s
10134 J'ne'ON
10014 102,2
1914 M-S
Goba (tooenture 48
99N 1001
/
4
1910 M-N
9934 J'IY
Gold 4s
1005.1001*
10038 Apr'011
1917 F-A
Western Teleph & Tel 5E3 1932 J -J
99,
2 6 90 1001
/
4
/
4
995. ;Ile 991
Wisconsin Cent Ist gen 481949 J -J •..• ...... ['55. Apr'09
9378 955.
Nam-Buyer pays accrued interest in addition to the purchase price tor all Boston Bonds. * No price Friday; latest old
and asked.
ii
Fiat price.
Philadelphia and. Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
share Prices-Not Por Cement Prices
Saturday
August 14
•
•
'20
40
/
4 14
131
Monday
August /6
Tuesday
Wednesdai,
August 17 August 18
Thursday
August 19
Sates
At:TIYE STOCKS
01 the
Week (,Or Bonds and Inactive
kritiati
Stocks see below)
August 20 Shares
Baltimore
Con. Gas EL L. & Pow
40
.35
201
Do pref
87
*871
/
4 88h
87
871
/
2 88
199 Northern Central
. 108
105 h 105 12 105 105'a 1055.1055.
106 106 •
95 seaboard(new)
19
19
19
19
19
*18
20
*18
20
19
125
Do 26 pref
*38
39 4.
39
39
:19
*38
39
.38
39
141
/
4 •1312 145. -.1312 141
1334 133 1,732 United Ry & Electric
/
4
145. 1435
407, .4034 41.
/
4
/
4 '4534 461
461
441
45
/
4 145.
121
/
4 121
/
4 121
/
4
6134
01
61
, 231
233
/
4 23,
70
70
705.
*1314
.1314
265. 1714
265. 2615
,
118 1185 11834119,
8534
85
8134 3-5i
70% 705 7114 715.
40-, 4775 4711( 495.
12/
1
4 1214
125. 1214
3012 30 12 3038 3038
827
.
82
811318 821.4
71p,
'71
/
4 7'
•5438 5475 54h 541
/
4
110
3101
/
4 8934 8934
40%
*4578
4415.
1238
61
2334
70
PHILADELPHIA
Inactive Stocks
Allegheny Val prof....50
50
American Cement
100
Amer Pipe Mfg
Bell Telephone (Pa) 100
60
Cambria Iron
Central Coal 85 Coke.100
Clonsol Tree of N 5-100
Diamond State Steel 10
10
Preferred
Easton Con Electric 0 50
Elea Storage Halt....100
Preferred
100
b't Wayne &W V
100
3ermantown Pass
50
Indianapolis St
100
Indiana Union Tr.. 100
Insurance Co of N A..10
Inter Sin Pow & Cliem.50
Keystone Telephone ..50
Preferred
50
KeystoneWatc1ease.100
10
Lit Brothers
50
Little Schuylkill
&Uncial'& Satiny! H 50
N Haven Iron 85 Stee1.9
50
Northern Central
North Pennsylvania 50
50
Pennsylvania Salt
Pennsylvania steel..100
100
Preferred
Phila Co(Pitts) prof...50
Phil German& .Norris 60
50
Phila Traction
11
Railways General
Susqueli Iron & Steel..5
10
rldowator Steel
10
Preferred
ronopah Mining of Nevl
100
Union Tr of Intl
United N J RR ab C 100
Unit Trac Pitta pret..50
Warwick Iron& Steel.10
West Jersey & Sea Sh.50
Westmoreland Coal....50
Wilkes Gas & Elec 100
*4012 41
'45½ 461
/
4
44
41%
121
/
4 12%
601
/
4 61,
,
2312
23
70
69
.1314
26% 20 4
117 117
8134 8512
70'4 71716
47's 48%
1214 1235
30'4 311
/
4
81348213133
tiN 7
55
55
8934 00
Bid
Ask
10
41
123
124
4
764
001
/
4 61
125
22',,
13
21
/
4
131
/
4
15
61
105"
10(1h
111
62
100/
1
4
116 117
441
/
4 45
90
91
/
4 1014
678
'251
7
252
/
1
4
91
/
4
571
, 5814
983
, 100
70
*Bid aud asked; no gales on this day.
*4012 41
405. 405.
461
/
4 *40
40
401
/
4
4478 4234 435.
44
/
4 1238
*121
/
4 12% *121
611
/
4
61½
tai
61.
/
4
23
231
/
4 2234 231
70
1393 70
69
*131
/
4
13½ 1312
265. 27
265. 274
1161211738 115 11634
8334 84,4
811
/
4 851
/
4
/
4 705.
7034 711
/
4
701
48,
,
48
4838 49
/
4
12
121
/
4
121
/
4 121
301
/
4 3034
3034 3l38
blu e
OU
807 8238
7
7
tiu/
1
48
50
56
/
4
511 551
90
9(134
8934 90
PHILADELPHIA
100
100
50
100
100
50
1,ange 'or Previous
Year(1905
Range since
Jan 1 1909
Lowest
ii 4314531
30 Mar 8 4212 May1',
76 Mario 814 May lb
IOU Jan 4 111 Jan
1134 Feb26 2118 J'nel4
22N Feb24 41 A1531`,
uN Feb 5 1438Auglt
Philadelphia
20 American Cement
50 3778 Apr13 43 Jan 2
41
*10
150 American
/
4 J'iy e 4634 'eu lt
bU 441
*46
401
/
4
7,67o Cambria Steel
50 3214 5'eu 23 .1614 Ang 7
423e •43
150 Electric Co of America 10 zi078Jan 20 1274 J'Iy 14
*1214 1238
1,27o Elea Storage Battery ]00 43 Jan 30 635.J'iy 30
001
/
4 61
1
4Jan
100 15/
2534 Feb ,
2278 2278 1,052 teen Asphalt tr ctls
100 53 Jan 6 71 Aug,t,
Do prof tr etre
67's 6734 1,277
2f, Keystone Telephone
50 95,Jan 21 15 Ala 19
131
/
4
*13
/
4 Jan 5 3378 May t
100 14,1
261
/
4 27'2 4,449 Lake Superior Corp
1,812 Lehigh & Nay tr at& 50 90 Jan 5 121 14 Aug 1 I
116 117
50 67 F.,1323 8614 Augl.
84 13,815 Lehigh Valley
83
/
4 Feb24 7114 Aug I 2
50 631
6912 70'., 2,038 Pennsylvania RR
/
4 Auglt
6,145 Plalatielp'aCo(Pittsb) 50 4012 Feb24 401
48
48
/
4 5,911 Philadelphia Electrial 25 11 i4 lob23 125. Mayl •
125. 121
/
4 Jan 3 36 h Ain 28
60 241
/
4 9,167 Philo Rapid Transit
2138 30,1
50 59½ Feb 23 32161,3 Aug 12
7734 7914 30,510 Reading
618,, 815,0 1,508 Tonopah Mining
1 534 Jan to 71338 Sia.r30
5U 3078Jan 6 5878May 4
53,8 54. 1,844 01011 i'raction
50 845. Slur 13 94½ Felt 6
881
/
4 8934 8.520 United Gas hunt
Bid
Ask
PHILADELPHIA
Ph & Stead 26 5s'33.A-0
Bonds
Con 31 Is 1911
J-D
Prices are all "and
Ex Imp M 4a g
interest."
Terminal 58 g1941.Q-F
Al Val E ext is 1910 A.0
P W & B col tr 48'21.34
Alt &LVElec 4 126'33.F.A
8678 87'4 Portland By 1st Os 1930.
Am Rya cony 58 1911.J.D
Hoch By& Leon 68'504
Atl City 1st 5s g'19.51-N
Spanish-Am Ir Os'27 J-.1
Berg& EBrw lat 68'21 J-J
U Tram Ind gen 58'19.J-J
118
13ethle Steel 6s 1998.Q.F
Un Rya Tr ctta 48'493&J
Choc& Me 1st 58 1949.1-1 1125. 113
United Rya Inv 1st coil tr
Ch Ok & la gen 58'19 J-J 1051
/
4 106
t 5/3 1926
3I-N
Col St Ry 1st con its 1932
13 Trac Pit gen 5s'97 J-J
Con Trac of N J 1st 58.'33
Welsbach s I 5s 1030.J.D
E& A 1st M 5s 1920 ALN 1095.
/
4 9234 W1k8-13 03bE con58'55J-J
Elec & Peo Tr stk tr ctts 921
Eq II Gas-L lat g 5s 1928
BALTIMORE
Indianapolis Ry 48.1933
inactive Stocks
47
Ala Cons Coal& Iron 100
Interstate 18 1943 ..F-A
50
/
48 '14.Q-J
Pret
Lehigh Nay 41
100
103,4 Atlanta oh Charlotte 100
Rita 4s g
/
4a g 1924.Q-k 1051
Allan Coast L (Conn)100
/
4 107
Gen 31 41
110
Canton Co
.100
Leh V C 1st 58 g '33. J-J
Cons Cot Duck Corp. .50
Leh V ext 4a 1st 1948.J-11 107
51-5
Preferred
50
26 Is 1910
J-1)
Georgia Sou & Fla. .100
Consol Os 1923
121
100
J D 1491
1st prof
/
4
Annuity 68
/
4 1501
100
2d prof
97
971
/
4
Gen cons 4s 2003.M-N
100
/
4 68% 0.B-6 Brewing
Leh V Tran con 48'35J.1) 681
Bonds
New Con Gas 55 1048 J .17
Prices are all"and
Newark Pass con Os 1930
Interest."
NY Ph& No 18t413'39 J-J
Anaeestia & Pot 58
Income 1s 1939 M.N
Atl & Ch ext 45.s
NoOhloTrac con3s'19.-74
Var 10134 1025. Allan U L RR481.1152M.8
Penn gen 68 1910
Vat
Consol 58 1919
11014 Atl Coast L(Ct)ctis Os J.D
Penn & MU Steel con 6s.
Otis of indebt
Pa & NY Can 58 '39.A-0
J-J
5-20 yr 48 1925
Con 48 1939
A-0
Balt()Pass lat 58'11 M.N
Penn Steel 1st os'17 31.N
Halt Fundg 68.1916 31-N
People's Tr tr carts 48 '43 97,
, 93
Exchange 312s 1930 J-J
P Co 1st& col tr 58'49 51-S 1051
/
4 100
Halt S,P 1st6s ml'11 A-0
Con& col tr 58 1951M.N
98"4 9914 13 SP &0 ist4/
1
48'53F-A.
Phil Elec gold trust Ws 1023., 103
Halt Trac 1st 58.2214 31•N
Trust certifs 48
761
/
4 76%
No Ball Div 581942 J-D
P & E gen M 6 g
1114
Centil ltyoonOslU32 111.N
Gen M 4s g 1920..A&O
Ext85 Imp 58.1932 MS
VEx.rights. $7.50 paid.
$121
/
4 paid. $111131
/
4 paid. $35 paid.
Bid
Asg
Lowest
titu4e3,
20 Jan
65 Mai
80 Jan
4 Feu
10 Fel
10 Jan
30 Dee
81,, Dec
102 Dec
15 Dec
26 Dec
12 Nov
/
4 Mai 43 Dee
321
42.34 Mai 405 Nov
2678 Feb 4012 Deo
/
4 Dec
812Jan 111
24½ Feb 47 Dec
312 J au 1935 Bea
/
4 Des
1978 Jan 501
412aan
9 May
338 Feb 17 Dec
784 Jan 1738 Dec
525. Feb 7634 Lee
541,38 Jail 66i1e Dec
4434 Dee
34 1.1
51
/
4 Feb 1238 Nov
d12 18.1'm 255,Dec
48316 Feb 711118 Dec
9/
1
4 Apr
375Jan
c4412.1'ne 504 Apr
7318Jan 14434 Lea
13A1.11 Mo
Chas CityRy lat 58'233'4
11)6..
Chas Ry & .E1544'913M-S
Clanl C& A 26 78'10 A-0
1 u 120
City & Sublet 58..222 J-13
991
/
4 t00
City& Sub( Was)Ist58'48
Coal & 1 Ity 1 at 58'201f-A
99,
2 11/1
Col &63rnv 1st68.19163-3
103/
1
4 104
Coisol Gas 6s...11110 J-D
.1939 J-D
58
79 ,, 80
Ga & Ala 1st con Os'453 -J
GaCar&N 1st 5s g
86
861
/
4 Georgia Plat 68...'22 J -J
GaSo& Fla 1st 58 1945J-J
831
/
4 87
G-B-S Brew 3-48 195131.5
100
2d income 5a 1951 1.1.N
Knox,
/Trac 1st 58'28A-0
LakeR El 1st gu58'42M-S
MaconRy&LtIst5s'53J-J
Memphis St 1st 58'45 J-J
MetSt(Wasli)1st55'25 F A
Mt Ver Cot Duck 1st os.
330 335
Npt N&O P 1st 58'38.51-N
90
95
6,
, 15. Norfolk St 1st 58'44..J-J
North Cent 45.s 1925 A-0
211
/
4 23
Series A 5s 1926.
22
Series B Os 1926. .J-J
95
97
Pitt Un Trac Os 1997.5-1
75
80
Poto Val 1st 58 1941..J-J
2
Say Fla& West5s'34 A.0
seaboard A L4s 1950 A-0
Saab 8, Roan 5s 1926.J-J
South Bound 1st 58-A-0
10314 104
100
UE1 L&P lat4126'2913LN
9635 9634 Un Ry& El 1st 4s'49 31.8
JD
Income 4141949
107 109
88
881
/
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FoL.Lxxxix.
THE CHRONICLE
464
inuestinent and igailroact intelligence.
RAILROAD Gaoss EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly retu ms
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
Latest Gross Earnings.
July 1 to Latest Date.
Current
Year.
Previous
Year,
Ala N 0 & Tex Pac•
240,815 212,106
N 0 & N East--r July
240,815
212,106
121,332 117,611
Ala & Vicksb___r July
121,339
117,611
106,298 108,300
Vicks Shr & Pac.r July
106,298
108,300
4,047
3,552
Ala Tenn & North. June
61,715
45.684
8,102.501 6.330,618 94,265,717 90,617,796
le Atch Ton & S Fe_ Tune
44,155
31,410
Atlanta Birm & Atl 1st wk Aug
218,687
173,198
Atlantic Coast Line June
2.033,018 1.928.966 26,144,065 26,029,052
Baltimore & Ohio_ _ July
6,950,872 6,149,557 6,950,872 6,140,557
Bangor & Aroostook June
163.710 180,894 2,818,444 2,618,328
4,189
4,953
Bellefonte Central_ _ July
4,189
4,953
Boston do Maine.. r Tune
3,448,873 3,045,602 39,528,698 38,990,749
4,600
6,265
Bridgeton Fe Saco R Tune
48.511
52,999
Buff Roch 80 Pitts.._ 2d wk Aug 199,349 144,053 1,203,622
980,735
185,938 149.300 2,094,398 1,925,618
Buffalo & Stisq___ r May
Canadian Northern.. 2d wk. Aug 183,200 167,600 1,221,900 1,070,500
Canadian Pacific__ _ 2d wk Aug 1,586,000 1,420,000 10,217,000 9,086,000
Central of Georgia_ 2d wk Aug 194,500 181,700 1,273,700 1,306,700
May
2,000,890 2,280,166 23,415,038 4.922,887
Centra
293,526 265,605 3,202,035 3,118,036
Central Vermoot_ _r May
2,027
1,980
Chattanooga South_ 4th wkJuly
6,427
11,502
Chesapeake & Ohio. 2d wk Aug 590,719 527,593 3,435,407 3.150,318
3.083
3,392
54,246
Chesterfield & Lane June
62,552
Chicago & Alton fly 2d wk Aug 281,581 275,333 1,570,786 1,587,210
6,139.751 5,567,592 72,185,883 72,004,807
Chic Burl & QuIncyr May
Chicago Great West 1st wk Aug 159,452 157,175
809,354
816,159
Chic Ind Fe Louisv_ 1st wk Aug 116,526 106,415
601.425
548,736
Chic Ind & Southern -See New York Cen tral.
4,984,635 4.391,265 59,897,483 58,932,620
Chic Milw & St Paul June
5,671,537 4,809,519 65,978,471 83,219.344
Chic & Nor West_ _r June
1,143,738 932,275 13,524,650 12,865,694
Chic St P M & 0--r June
77,523 1.000,133 1,009,436
97,186
Chic Term Trans RH May
642,428 660,757 7,897,048 8.011,484
Cln Ham & Day-r June
Clev Cin Chic & St I. -See New York Cen tral.
188,850 164,967 2,312,590 2,200,765
Colorado Midland..r June
h Colorado & South 2d wk Aug 291,425 289,901 1,799,433 1,799,192
15,864
16,756
279,231
Coium Newb Fe Lau June
282,581
74,919
June
78,526
766,021
Copper Range
807.322
4,777
106,360
June
10,715
Cornwall
117,733
22,067
329,913
29,027
Cornwall & Leban_r June
308,104
196,704 145,567 2,157,165 2,039,468
June
Cuba Railroad
1,497,875
18,798,586
1 Delaware do Hud_ June
1,545,741
10,535,114
2,882,952 2,889,893 33,553,436 33,810,254
Del Lack & West_r June
Deny & Rio Grande 2d wk Aug 474,500 385,900 2,884,700 2,381,300
34,526
139,061
29,099
Det Tol & Iront Sys 1st wk Aug
145,032
42,324
193,298
39,154
1st wk Aug
Ann Arbor
183,780
22,423
148,973
24,563
Detroit & Mackinac 2d wk Aug
147,800
1,048.688 559,750 6,847,572 6,207,509
Dui & Iron Range-r June
56,482
375,034
77,470
Dul Sou Sh 6e AU_ 1st wk Aug
287,414
628,412 529,428 7,274,014 7,564,094
El Paso & So West.r June
4,299,728 3.851,252 46,243,297 45.670,370
Erie
May
Evansville & Terre haute-See Rock Is land Syst em.
1,613
19,894
1.317
19,309
Fairchild & N E___ June
63,621
773,848
69,714
777,474
Fonda Johns & Glov June
179,740 191,190 2,751,094 2,858,750
Georgia Railroad__ June
way.
hern
Rai
-Sec
Soul
Georgia South & Fin
Grand Trunk Syst_ 2d wk Aug 868,402 778,936 5,192,061 4,893.612
598,691
590,739
Gr Trunk West_ _ 1st wk Aug 127,799 122,271
35,842
186,771
36,406
Det Gr Hay & Mil 1st wk Aug
184,977
40.480
192,786
43,521
Canada Atlantic_ 1st wk Aug
222,710
5,144,975 4,450,493 5,144,975 4,450,493
Great Northern Syst luiy
126,912
1,873,198
140.390
June
2,066,878
Island_
Gulf & Ship
469 018 448,621 5,878,414 5,841,763
Hocking Valley____ June
4,599,037 4,253,257 4.599.037 4,253,257
Illinois Central ____ July
800,000
Internat & Gt Nor.. 2d wk Aug 122,000 126,000
735,000
788,047
a Interoceanic Mex_ 2d wk Aug 121,881 110,657
777,021
54,818
57,109
363,139
2d wk Aug
Iowa Central
341,722
177,440
2,127,637
June
155,917
Kanawha 63 Mich__
2,022,938
660,028
660,028 744,334
Kansas City South.. July
744,334
37,000
18,032
K C Mex & Orient_ 1st wk Aug
Lake Erie & West'n -See New York Cen tral.
May
9,830,34C 2,982,167 30,211 292 32,443.535
Lehigh Valley
35,065
412,625
36,368
Lexington de East.... Juno
497,933
Dec. 58 ,131
June
Inc.64 549
Long Island
92,412
97,604 1,186,401 1,144,522
Louisiana & Arkan_ June
84,215
75 966 1,023,737
LouLsv Hend & St L June
992,652
Louisville & Nashv_ 2d wk Aug 920.275 842,915 5,624,157 5,343,393
11,184
11,387
11,184
Macon & Birming'm July
11,387
755,308 688,040 8,337,723 8,514,259
Maine Central ____r June
7,408
3,193
3,193
July
Manistique
7,408
29,720
378,022
29,805
Maryland & Penn.... June
383,349
807,720
a Mexican Internat.. 2d wk Aug 132,253 128,739
815,139
673,700
a Mexican Railway_ 4th wlauly 214,500 201,100
604.600
34.946
108,920
30,835
a Mexican Southern 4th wkJuly
108,182
ork Centr
Michigan Centro:- See New
16,971
13,672
90,228
Mineral Range ____ 1st wk Aug
84,841
71,892
75,396
497,559
Minneap & St Louis 2d wk Aug
457,597
Minn St P & S S M_ It wk All4 251.407 212,494 1,249,484 1,139,643
885,633
Chicago Div ision _ 1st wk Aug 171.760 140,842
792,492
1,890,871 1,730,114 25.300.915 23,283.670
Missouri Kan & Tex June
Mo Pac & Iron Mt.. 2d wk Aug 991.000 843,000 5,768,000 5,079,000
37,000
39,000
193,000
Central Branch__ 2d wk Aug
192,000
Total system___ _ 2d wk Aug 1,028,000 882,000 5.961,000 5,271,000
122,765
24,697
23,773
b Mobile Jack & K C Wk July 31
115,346
Nashv Chatt & St L June
897,235 779,313 11,122,114 10,802,035
a Nat Rys of Mexico 2d wk Aug 863,182 901,164 5,688,173 5,381,531
8,418
53,937
10,235
Nevada-Cal-Oregon. 1st wk Aug
40,398
6,893
75,388
7,385
Nevada Central..___ June
75,472
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date
Current
Year.
Previous
Year.
3
7,695,909 6,943.941 90,760,530 89.748,760
eN Y C & Hud Riv_ June
3,648,559 3,004,390 41,869.751 41,190 527
Lake Shore & M S June
384.582 340,380 4,661.463 4.590,517
nLake Erie &West .Tune
Chic Ind de South June
917,778 207,426 2.932,785 2,790,387
Michigan Central. June
2,177.052 1,923,424 25.773,579 26,044,036
Cleve C C & St L.. June
2,172,925 1,956,946 26,113,700 24,858,757
228,783 216,109 2,830,040 2,832,450
Peoria & Eastern June
921,309
80,735 1.108.475
82,034
Cincinnati North.. June
Pitts & Lake Erie June
1.279.907 833,792 12.084,737 11,950,071
Rutland
260,591 234,011 2,886,248 2,905,080
June
N Y Chic & St L.. June
741.348 632.114 9.500,301 9,753,667
Total all lines__ _ June
18889468 16374165 220476600 217535553
N Y Ont & Western June
719,329 740,264 8,290,170 8,121,494
NYNH & Hart_r
4,827,267 4,357,264 54,347,630 53,050,145
N Y Susq & West.... May
261,679 261.322 3.026,080 3,038,755
218,980 201,173 2,417,319 2,182,972
Norfolk & South....r June
Norfolk & Western_ June
2,745,450 2,151,236 29,327,101 28,982,217
1.009,802 969,302 11,658,648 12,436,248
Northern Central _ _ June
6,147,697 4,240,698 68,460,747 88,220,677
Northern Pacific_ _r June
662,376 592,286 6,580,507 7,272,958
Pacific Coast Co..... .Tune
4,216,206 3,509,614 41,681,765 43,360,842
Pennsylvania Co....r June
June
d Penn-E of P &
12580687 11313187 142419390 149692190.
Inc. 97 1,600
d West of P & E. June
Dec. 2,44 3,900
1,195,678 1,012432 14,169,565 13,322,921
Pere Marquette......r June
Philo. Bait & Wash.. June
1,520,817 1,430,317 16,929,349 16,895,341)
2,428,318 2,205,373 27,534,894 28,490,585
Pitts Chi Chic &Stk, June
11,634
Raleigh 8: Southp't June
9,197
120,905
140,372
Reading Company_
3,182,793 2,882,730 39,080,234 39,878,882
Mita & Reading.r June
2,545,783 3,075.765 32,838,555 35,937,336
Coal de Iron Co__ May
5,781.491 6,370,697 89.716,350 74,657,782
Total both cos.._. May
193,952 178,060 2,026,325 2,003,114
Rich Fred & Pot.. r June
74,820
65,652
797,440
Rio Grande June.._ May
749,530
10,284
12,191
65,989
72,495
Rio Grande South.... 2d wk Aug
5,443,471 1,197,279 61,184,887 58,484,197
Rock Island System June
3,092,535 2,423,192 38,195,738 35,806,132
St L Fc San Fran_ Tune
818,128 787,739 10,269,619 10,742,731
Chic Fe East Ill_.. Tune
156,881 162,044 2,093,997 2,204,061)
f Evansy de Ter H June
9,510,816 7,550,254 111744241 107237131)
Total of all lines_ June
105,340 118,479 1,562,113 1,809,617
St Jos & Grand Isl.. June
St Louis Southwest., 2d wk Aug 183,626 167,666 1,179,903 1,122,018
755,283 605,760 7,450,462 7,518,512
San Ped LA & S L_r Tune
1.290,510 1,163,379 16,451,677 15,675,441)
Seaboard Air Line_ June
942,870
868,893
68,466
Atlanta Fe Birm_ _ June
69,203
7,814
153,539
124,011
Florida West Sh. June
9,816
85,754 1489,455 1,568,515
Southern Indlana_r June
98,888
10397489 9,263,596 120521909 123 272423
c Southern Pao Co_ June
Southern Railway__ 2d wk Aug 999,541 906,306 6,226,725 5,859,232
Mobile & Ohio__ _ 2d wk Aug 182,966 169,344 1,120,796 1,044,256
809,591
774,706
Cin N 0 dc Tex P.. 1st wk Aug 148,504 141,525
65.536
346,972
359,159
64,587
Ala Great South_ 1st wk Aug
33,469
196,996
173,429
Georgia Sou & Fla 1st wk Aug
33,497
76,279
4th wkJuly
28,218
Texas Central
76,694
27,201
Texas do Pacific.. _ _ _ 2d wk Aug 248,361 253,859 1,475,359 1,443,984
74,362
6,312
Tidewater & West_r Juno
5,881
88,081
311,788 355,709 4,089,607 4,191,999
Toledo & Ohio Cent June
21,353
125,676
130,710
Toledo Peor de West 2d wk Aug
22,069
70,337
372,844
72,267
364,151
Toledo St L & West 1st wk Aug
Tombigbee Valley__ Tune
6,589
81,320
6,169
62,158
6,864,177 6,131.182 78,750.461 76,039,225
Union Pacific Syst_ June
Vandalia
June
708,656 692,308 8,773,395 9,170,839
86,332 1,136,286 1,062.500
Virginia Fe Sou West June
80,435
2d wk Aug 607,482 533,197 3,378,067 3,138,482
Wabash
Western Marylanda June
496,446 429,232 5,952,696 5,648,278
WestJersey & Seash June
537,124 499,224 5,464,658 5,713,858
‘Vheeling & L E-r June
509,384 471,411 5,633,644 5,397,001
801
1.335
White Riv(Vt)2 wks end July 31
272,063
14,053
262,202
14,934
Wrightsville & Tenn June
584,551
855,598
655,508 584,551
Yazoo & Miss Vail_ July
Various Fiscal Years.
Period.
Jan 1
Bellefonte Central
Jan 1
1 Delaware & Hudson
Jan 1
Manistique
Jan 1
a Mexican Railway
Jan 1
a Mexican Southern
eNew York Central de Mud River Jan 1
Lake Shore & Michigan South Jan 1
Jan 1
n Lake Erie & Western
Chicago Indiana & Southern.. Jan 1
Jan 1
Michigan Central
Cleve Cin Chic 8: St Louis...-.. Jan 1
Jan 1
Peoria Fe Eastern
Jan 1
Cincinnati Northern
Jan 1
Pittsburgh & Lake Erie
Jan 1
Rutland
New York Chicago & St Louis Jan 1
Jan 1
Total all lines
Jan 1
Northern Central
d Penn-East of Pitts & Erie. Jan 1
d West of Pittsburgh & Erie_ Jan 1
Philo. Baltimore & Washington.. Jan 1
Pitts Cin Chicago & St Louis__ Jan 1
The 1
Rio Grande Junction
Jan 1
Texas & Pacific
Jan 1
West Jersey & Seasnore
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Current
Year.
Previous
Year.
$33,441
$33,494
July 31
June 30 9,224,878 8,817,462
24,458
35,254
July 31
July 31 4,394,600 4,546,500
793,602
July 31
747,229
June 30 42,573,770 38,310,596
June 30 20,245,108 17,826,590
Juno 30 2,167,342 1,956,117
June 30 1,426,683 1.285,405
June 30 12,590,369 11,330,909
June 30 12,508,022 10,850,725
June 30 1,336,351 1.264,024
June 30
524,630
395,914
June 30 5,782,642 4,087,715
June 30 1,370,055 1,233,491
June 30 4,671,473 4,509,019
June 30 105196445 93,050,505
June 30 5,711,094 5,431,294
June 30 70,142,949 64.023,149
June 30
/ne.4,80 1,100
June 30 8,465,211 7,740,111
June 30 13,841,759 12,224,543
May 31
413,839
352,927
Aug 14 8,093,526 7,441,543
June 30 2.398,452 2,272,352
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
ur'n/ Year Prey's Year Inc. or Dec.
Monthly Summaries.
Cuent Year Prey's Year Inc. or Dec.
3
$
$
$
9,297.152
1st week June (44 roads)......+998,184 10.74
Month Oct 1908 (798 roads).. 231.615,129 249,932,145 -18,317,016 7.45
9,618,010
+951,558 9.89
2c1 week June (44 roads)---Month Nov 1908 (804 roads).. 210,971,123 218,967.731 -7,996,608 3.65
9,763,404
+905,215 9.27
3d week June (44 roads).....
Month Dec 1908 (708 roads). 205,216,481 193,791,645 +11,424,836 5.90
13,390,131 +1,035,704 7.73
4thweek June (45 roads)--Month Jan 1909 (750 roads) 182,347,842 172,275,946 +10,071,896 5.84
9,517,548
1st week July (40 roads)_--+830,059 8.72
Month Feb 1909 (792 roads).. 173,867,206 159.982,898 +13,884,310 8.68
2d week July (44 roads)---+394,328 3.92
10,052,818
Month Zilch 1909 (715 roads).. 202.167,425 180,889.J95 +21,278,330 11.78
3d week July (44 roads)--10.228,187
+567.793 5.55
Month April 1909 (815 roads). 191,119,035 169,912,827 +21,206,208 12.48
4th week July. (49 roads)---15,075.834 +1,504,339 9.98
Month May 1909 (849 roads).. 201,143,840 174,105,001 +27.038,839 15.47
1st week Aug (44 roads)....
10,235,361 +1,075,929 10.51
Month June 1909 (681 roa(is). 185,333,312 180,624,504 +24,708,808 15.38
2d week Aug (29 roads).....
+894,024 9.57
9,375,540
Month July 1909( 52 roads). 53,904,004 49,721,071 + 4,182.933 8.43
a Mexican currency. b Includes earnings of Gulf & Chicago Division. c Includes the Houston & Texas Central and its subsidiary lines in both years.
d Covers lines directly operated. e Includes the New York & Ottawa. the St. Lawrence & Adirondack and the Ottawa & New York fly., the latter or
which, being a Canadian road, does net make returns to the Inter-State Commerce Commission.
Includes Evansville & Indiana RR. h Includes
earnings of Colorado & Southern, Fort Worth de Denver City and all affiliated lines, excepting Trinity & Brazos Valley HR. k Includes in both years
earnings 01 Denver Enid & Gulf RR., Pecos valley system and Santa Fe Prescott & Phoenix fly. i5rhese figures do not include receipts from sale of
Ohio
RR.
0
the
Northern
Figures
here
coal
n Includes
are on the old basis of accounting-not the new or Inter-State Commerce Commission method
r These figures are on the new basis prescribed by the Inter-State Commerce Commission.
$
10,295,336
10,569,560
10,668,619
14,425.835
10,347,605
10,447,148
10,795,980
16,580,173
11,311,290
10,269,584
AUG. 21 1909.1
THE CHRONICLE
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the second
week of August. The table covers 29 roads and shows 9.57%
increase in the aggregate over the same week last year.
465
-Gross Earnings
--Net Earnings
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
$
$
Chattanooga Southern aJune
5,738
def1,772
def2,552
6,611
July 1 to June 30
80,578
105,788 def42,684
def3,627
Chesterfield & Lanc_b_ _June
3,083
3,392
17
823
July 1 to June 30__
Second Week of August.
Increase. Decrease.
54,246
1908.
1909.
62.552
15,016
19,949
Colorado Midland_a___ _June
188,850
164,967
51,059
16,872
July 1 to June 30
2,312,590 2,200,765
383,389
434.014
Buffalo Rochester & Pittsburgh
55,296
144,053
199,349
Colorado & South_ b_ _ _ _May 1,144,591
966,969
306,707
217,977
Canadian Northern
15,600
167,600
183,200
July
1 to May 31
13,941,145 13,207,832 4,541,624 4,404,271
Canadian Pacific
1,588,000 1,420,000 166,000
Copper Range_ b
Central of Georgia
12,800
181,700
194,500
June
78,526
74,919
16,587
39,392
July 1 to June 30
Chesapeake & Ohio
63,126
527,593
590,719
766,020
807,322
224,067
204,042
Chicago & Alton
6,248
275,333
281,581
Cuba RR
June
196,704
145,567
91,647
52,904
1,524
289,901
Colorado & Southern
291,425
July 1 to June 30
2,157,165 2,039,468
950,089
721,288
385,900
88,600
Denver & Rio Grande
474,500
Delaware & Hudson_ b_June 1,545,741 1,497,875
2,190
r582,580
22,423
Detroit & Mackinac
24,563
r623,325
Jan 1 to June 30
9,224,676 8,817,462 r3,398,434 r3,206,701
Grand Trunk of Canada
778,936
868,402
89,466
Grand Trunk Western
1
Denver & Rio Grande_a_May 1,726,852 1,470,890
394.618
476,817
Det Grand Haven F0 Milw _ _
July 1 to May 31
18,995,804 18,794,133 5,126,508 6,089,326
Canada Atlantic
Duluth So Sh & Atl_b_ _June
200,347
269,483
64,615
36,441
126,000
122,000
4,000
International & Great Northern
July 1 to June 30
2,719,338 2,921,916
739,820
715,701
121,881
110,657
Interoceanic of Mexico
11,224
Dunkirk Alleg Vail & Pitts_ b57,109
54,818
Iowa Central
2,291
Apr 1 to June 30
920,275
Louisville & Nashville
842,915
77,360
58,551
67,140
• 501
3,278
Jan 1 to June 30
132,253
Mexican International
128,739
3,514
127,573
6,820
110,026
4,432
July 1 to June 30
Minneapolis & St Louis
75,396
71,892
3,504
262,099
274.483
16,451
25,343
Missouri Pacific & Iron Mtn_
991,000
843,000 148,000
Del Lack & West_ b37,000
Central Branch
39,000
2,000
Apr 1 to June 30
8,528,283 8,450,584 3,694,579 3,590,109
Mobile & Ohio
169,344
182,966
13,622
Syracuse Bing & N Y_ bNational Rys of Mexico
863,182
901,164
37,982
Apr
1
June
to
30
241,060
232,010
108,946
Rio Grande Southern
105,352
10,284
12,191
1,907
Jan 1 to June 30
453,851
433,295
188,259
St Louis Southwestern
172,550
183,626
167,666
15,960
Erie_a
Southern Railway
999,541
906,306
93,235
May 4,299,728 3,851,252 1,268,238 1,088,246
Texas Fc Pacific
July 1 to May 31
248,361
253,859
46,243,297 45,670,370 12,288,216 8,336,924
5,498
Toledo Peoria & Western
22,969
21,353
1,616
Fonda JohnsecGlovers a _June
69,714
63,621
39,031
35,132
Wabash
607,482
533,197
74,285
July
1
to
June
30
773,848
777,474
398,434
418,261
_June 179,740
Total (29 roads)
191,190
10,269,564 9,375,540 945,411
45,034
151
51,387 Georgia RR_b
July 1 to June 30
2,751,094 2,858,750
Net increase (9.57%)
520,041
492,614
894,024
Grand Trunk of CanadaGrand Trunk Ry __ __June 2,712,588 3,324,088
899,816 1,357,047
July 1 to June 30
30,411,731 32,519,898 8,504,696 8,926,135
For the first week of August our final statement covers 44
Grand
Trunk Western May
461,344
364,501
130,422
roads and shows 10.51% increase in the aggregate over the
24,819
July 1 to May 31
5,073,037 5,438,588 1,131,995
906,894
same week last year.
Detroit Gr H & Milw_May
142,102
111,443
27,739
def5,840
July 1 to May 31
1,534,421 1,585,849
280,416
209,333
Canada Atlantic
May
154,754
First Week of August.
149,401
18,979
def9,733
1909.
1908.
Increase. Decrease.
July 1 to May 31
1,652,720 1,774,553
100,702 def87,412
--Hocking Valley b
June
469,018
$
448,621
204,750
200,884
Previously reported (31 roads) _ 10,271,391 9,260,962 1,025,617
July 1 to June 30
15,188
5,878,414 5,841,763 1,952,330 1,758,554
Alabama Great Southern
64,587
65,536
949 Illinois Central_a
June 4,518,688 4,360,933 1,369,641 1,729,862
Atlanta Birmingham & Atlantic
44,155
31,410
12,745
July 1 to June 30
57,145,512 57,996,727 13,464,230 13,417,129
Chicago & Alton
273,961
254,841
19,120
gInteroceanic of Mexico_June 604,057
Chicago Great Western
592,955
233,225
159,452
184,313
157,175
2,277
July
1
to
June
Chicago Indianapolis & Louisv_
30
6,718,728 7,701,105 2,298,872 2,305,447
116,526
106,415
10,111
Cincinnati New On & Texas Pac
Iowa Central _a
148,504
141,525
6,979
June
213,816
221,595
316,484
326.735
Detroit Toledo & Ironton
29,099
34,526
July 1 to June 30
5,427
3,015,647 3,002,475
3454,871
3807,426
Ann Arbor
39,154
42,324
3,170 Kanawha & Mich _a_ _._June
155,917
177,440
7,687
59,037
Georgia Southern & Florida_ _ _ _
33,947
33,469
478
July 1 to June 30
2,127,637 2,022,938
316,022
234,870
Kansas City Mexico & Orient_ _
37,000
18,032
18,968
Keystone Teleph Co_a__July
Nevada-California-Oregon
91,020
10,235
88,33645,487
8,418
1,817
43,238
Rio Grande Southern
11,012
10,391
621
Lake Sh & Mich Sou_bToledo St Louis & Western
72,267
70,337
1,930
Apr 1 to June 30
10,433,255 8,922,424 3,680,937 2,762,914
Jan 1 to June 30
20,205,525 17,830,478 7,066,877 5,606,267
Total (44 roads)
11,311,290 10,235,361 1,100,663
24,734 Long IslandJun
e
Inc. 64,549
Net increase (10.51%)
Inc. 70,082
1,075,929
Jan 1 to June 30
Inc. 350,992
Inc. 311,380
Maryland & Penna
29,805
June
29,722
7,545
7.533
July 1 to June 30
378,022
383,349
111.156
116,513
Net Earnings Monthly to Latest Dates.-In our "Railway °Mexican International_June
597,045
681:586
292,696
312,287
Earnings" Section, which accompanies to-day's issue of the
July 1 to June 30
6,953,284 8,281,565 2,905,807 2,953,364
"Chronicle" as a special Supplement, we print the June re- Mineral Range_bJune
70,569
70,099
5,445
10,515
July
1
to
June
30
826,375
806,075
125,342
117,210
turns of earnings and expenses (or in the absence of the June Minneap
& St Louis_a_ _June 352,093
288,267
k104,060
k84,199
figures those for the latest previous month) of every steam
July 1 to June 30
4,171,314 3,826,516 k1,1,33,465
k999,080
operating railroad in the United States which is obliged to Minn St P & S S M
June 1,072,626
920,753
478,011
377,063
July
1 to June 30
12,609,299 11,509,857 5,511,583 4,393,892
make monthly statements to the Inter-State Commerce ComMo Kan & Texas_b
June 1,890,871 1,730,114
mission at Washington.
583,963
269,320
July
25,300,915 23,283,670 7,633,509 6,851,562
The Inter-State Commission returns are all on a uniform Missouri 1 to June 30
Pacifie- b
May 3,593.814 3,032,882
640,059 1,034,283
basis, both as to revenues and expenditures, and possess
July 1 to May 31
42,629,010 40,931,572 11,612,035 11,284,142
special utility by reason of that fact. In a number of in- Nashv Chatt & St L_b_ _June 897,235
779,313
220,445
222,756
July
1
to
June
30
11,122,114 10,802,035 2,478,326 2,464,898
stances these figures differ from those contained in the
gNational
Rys
of
Mex__June
4,331,441
3,877,867
1;866,105 1,365,043
monthly statements given out by the companies themselves,
Feb' 1 to June 30
21,851,867
9,613,615 7,3212,9
4,0
55
68
for publication, and in which the accounts are prepared in Nevada-Cal-Oregon_b __June 43,286 20,536,140
27,765
24,252
July 1 to June 30
accordance with old methods of grouping and classification
406,668
338,668
228,857
167,103
1:8
77
03
7
Apr
66
pursued in many instances for years. We bring together Nevada Central_ b
5,888
182:178801
2,472
63,625
9,943
here (1) all the roads where there is a substantial difference N July 1 to Apr 30
Y New Haven do Hartf_bbetween the two sets of figures, so that those persons who
Apr 1 to June 30
14,281,504 12,639,519 5,616,202 3,716,844
Jan 1 to June 30
for any reason may desire to turn to the company statements
26,696,835_23.553,260 9,358,336 5,750,471
July
1
to
June
30
54,347,630
53,050,145 18.267,324 14.836,588
will find them readily available. We also give (2) the reOut & Western_a_ _June
719,329
248,840
740,264
270,735
turns of such roads (even where the figures correspond ex- N Y July
1 to June 30
8,290,170
2,457,909 2,533,194
actly with those in the Inter-State Commerce reports) which N Y Susq & West_a _ _ _ May 261,679 8,121,494
261,322
7-5,976
97,621
go beyond the requirements of the Commission and publish
July 1 to May 31
3,026,080 3.038.755
986,818
749,766,
their fixed charges in addition to earnings and expenses. We Norfolk & Western_bJune 2,745,450 2,151,236 1,121,019 857,089
July 1 to June 30
29,327,101 28,962,217 11,597,345 10,197,503
likewise include (3) the few roads which operate entirely
Central_ b_ _ _ _June 1,009,802
969,302
253,415
313,415
within State boundaries, and therefore do not report to the Northern
Jan 1 to June 30
5,711,094 5,431,294 1,007,384 1,085,284
Federal Commission, and Mexican and Canadian companies. Pacific Coast
592,286
June
662,376
93,629
47,202
July 1 to June 30
Finally, we add (4) the roads which have issued their own
6,580,507 7,272,958
959,492 1,052,334
statements for June, but have not yet filed any returns for Pennsylvania-Lind directly operated.
East of Pitts Fc Erie b June 12,580,687 11,313,187 4,080,404 3,691,704
that month with the Commission.
Jan 1 to June 30
70,142,949 64,023,149 18,389,046 16,264,746
West of Pitts & Erie_June
Inc 971,600
Inc 211,300
----Gross Earnings- --Net Earnings
Jan 1 to June 30
Inc 4,801,100
Inc 1,173,100
Previous
Current
Current
Previous
Phila
Baito
Wash_b_
&
1,520,817
_June
1,430,317
395,535
381,435
Roads.
Year.
Year.
Year.
Year.
Jan 1 to June 30
8,465,211 7,740,211 1,926,260 1,553,760
$
$
$
$
Pitts
Cin
L_a_June
2,428,318
Chic
&
St
2,205,373
637,036
668,625
Ala Tenn & Northern__June
3,552
4,047
1,864
1,808
Jan 1 to June 30
13,641,759 12,224,543 3,084,593 3,036,139
July 1 to June 30
61,715
45,664
33,095
22,687
CompanyAtch Topeka & S Fe_b_June 8,102,501 6,330,618 53,237,275 52,754,238 Reading
Phila & Reading_ b_ __ May 3,235,708 3,294,932 1,216,660 1,198.953
July 1 to Juno 30
94,265,717 90,617,796536,770,522529,987,881
July 1 to May 31
36,877,795 38,720,430 14,817,660 14,226,695
Atlantic Coast Line_aJune 2,033,018 1,928,966 487,563
461,372
Coal & Iron Co_ b_ _ _ _May 2,545.783 3,075,765 def42,863
173,797
July 1 to June 30
26,144,065 26,029,052 8,081,166 5,985,257
July 1 to May 31
32,838,555 35,937,336 1,639,934 2,434,491
Balto & Ohio_ b
July 6,950,872 6,149,557 2,245,836 2,208,998
Total both cos-b
May 5,781,491 6,370,697 1,173,797 1,372,750
Bellefonte Central_ b___ _July
4,189
4,953
July 1 to May 31
def 707
69,716.350 74,657,762 16,457,596 16,661,184
1,271
Jan 1 to July 31
33.441
33,494
2,303
4,233
Reading Company__ _May
136,417
137,407
Bridgeton do Saco Riv b June
4,600
8,285
July 1 to May 31
2,036
3,066
1,413,302 1,413,461
July 1 to June 30
48,511
52,999
14,276
16,962
Total all companies_ May
1,310,214
1,510,157
Buffalo Roch & Pitts_ b_June
722,423
524,334
418,308
July 1 to May 31
207,402
17,870,897 18,074,645
July 1 to June 30
7,171,898 7,422,235 2,506,728 2,268,018 Rio
Grande Junction_ _ _ _May
74,820
65,652
n22,446
n19,695
Canadian Northern _ _ _ _June 805,000
674,400
Dec 1 to May 31
232,500
211,800
413,839
352,927 n124,152
n105,878
July 1 to June 30
9,668,900 9,012.400 2,795,400 2,484,000
Rutland _bCanadian Pactfic_a_ June 6,550,153 5,555,835 1,888,425 1,675,496
Apr 1 to June 30
764,620
183,400
197,790
661.467
July 1 to June 30
76.313,321 71,384,169 22,955,573 21,792,366
Jan 1 to June 30
1,370,055 1,228,403
321,637
277,456
Central of New Jer_b_ _ _May 2,000,890 2,280,166
711.129 1,033,852 Rio Grande Southern_ b_June
42,901
51,445
10,530
23,278
July 1 to May 31
23,415,038 24,922,887 9,957,095 10,679,075
July 1 to June 30
576.151
605.753
231,267
197,360
Roads.
[VOL. Lxxxix.
THE CHRONICLE
466
-Gross Earnings
Previous
Current
Year.
Year.
Roads.
Net Earnings
Previous
Current
Year.
Year.
June 5,443,471 4,197,279 1,780,680 1,322,370
Rock Island_a
61,184,887 58,484,197 16,400,527 14,558,122
July 1 to June 30
773,950
St Louis & San Fran a June 3,092,535 2,423,192 1,148,963
38,195,738 35,806,132 11,487,120 9,850,432
30
July 1 to June
767,739
317,306
386,733
Chicago & E'n Ill_a_ _June 818,128
10,269,619 10,742,731 3,060,971 3,029,352
July 1 to June 30
46,469
162,044
88,966
156,881
Evansv & Terre H_a_June
2,093,997 2,204,069
710,088
661,891
July 1 to June 30
June 9,510,816 7,550,254 3,293,219 2,572,019
Total all lines_a
111,744,241 107237,130 31,610.508 28.147.975
July 1 to June 30
211,751
69,281
738,163
785,510
St Louis Southwest_a__June
10,331,889 9,598,264 2,265,933 1,719,154
July 1 to June 30
Southern Pacifica _ _ _ _June 10,397,489 9,263,596 3,381,595 3,037,831
120,521,909 123272,423 40,937,534 34,662,377
July 1 to June 30
56,150 def.15,216 def.25,074
65,737
June
Texas Central_a
236,212
167,476
1,164,480 1,009,167
July 1 to June 30
355,709
184.908
72,381
311,738
Toledo & Ohio Central_aJune
1,162,092
4,191,999
1,250,604
to
4,089,607
30
1
June
July
14,494
91,365
21,104
_July
83,166
_
&
West_b_
Peoria
Tol
17,186
106,998
31,359
85,188
June
204,343
211,318
1,094,133 1,221,478
July 1 to June 30
2,501
6,589
6,169
2,431
June
Tombigbee Valley
28,133
62,158
16,048
81,320
July 1 to June 30
June 6,864,177 6,131,182 3,501,289 2,959,612
nion Pacifica
78,750,461 76,039,225 38,234,814 31,900,205
July 1 to June 30
171,855
499,224
152,155
537,124
West Jer & Sea Sh_ b_ _ _June
325,632
162,632
2,398,452 2,272,352
Jan 1 to June 30
619,958 def22,026
663,410
def8,089
Yazoo & Miss Valley_a_June
10,035,257 10,098,391 1,019,182 1,025,775
July 1 to June 30
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
• g These results are in Mexican currency.
h For June 1909 additional income Is given as showing a deficit of $3,564,
against $3,175 credit in 1908, and for period from July 1 to June 30 there
was a deficit of $70,629, against a credit of $9,965 last year.
The company now includes the earnings of the Denver Enid & Gulf RR.,
Pecos Valley system and Santa Fe Prescott Fc Phoenix Ry. in both years.
For June taxes amounted to $320,280, against $381,370 in 1908; after
deducting which, net for June 1909 was $2,916,995, against $2,372,868 last
year. For period from July 1 to June 30 taxes were $3,015,219 in 1909
against $3,244,596 in 1908.
k For June 1909 additional income was $19,793, against 818,739 in 1908.
and for period from July 1 to June 30 was $153,029 in 1909, against $219,320.
last year.
n These figures represent 30% of gross earnings.
r For June 1909 net from Coal Department was $87,327, against $67,798
last year, and from Jan. 1 to June 30 was $533,313 In 1909,against $484,578.
Interest Charges and Surplus.
Roads.
-Int., Rentals, dec.- -Bal. of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
def.950
257
1,014
243
July
Bellefonte Central
602
1,799
2.434
1,701
Jan 1 to July 31
1,426
572
2,494
610
Bridgeton & Saco Riv....June
6,751
7,099
9,863
7,525
July 1 to June 30
174,907
753,375
280,477
Central of New Jersey_ _ _May 536,222
5,750,368 6,055,245 4,206,727 4,623,830
July 1 to May 31
31,350 cdef.14,932
c22,511
31,350
June
Colorado Midland
372,680 cdef.47,086
c22,318
376,200
July 1 to June 30
c84,762 cdef39,138
256,896
252,873
Colorado & Southern__ ..May
c2,069,549
2,630,963
c1,956,001
.2,810,244
July 1 to May 31
27,236
12,299
4,288
12,156
June
Copper Range
76,099
149,711
54,331
147,968
July 1 to June 30
Del Lack Fe Western1,997,304 2,626,762 x3,210,737 x2,414,990
Apr 1 to June 30
Syracuse Binghamton & N Yx169,633 x160,835
49,039
36,631
Apr 1 to June 30
123,164
x235,014
x211,928
116,645
Jan 1 to June 30
32,353
56,873
34,774
20,551
June
Cuba RR
365,863
550,798
399,291
355,425
July 1 to June 30
315,763
d94,051
331,534
d202,267
Denver & Rio Grande_ _Niay
3,533,331 3,662,594 d2,391,713 d3,115,365
July 1 to May 31
99,440
x62,400 xdef52,572
109,495
Duluth South Sh & AtI_June
1,182.305 1,167,810zdef230,028xde1358,661
July 1 to June 30
Dunkirk Alleg Vail & Pitts11,603 xdf.10,719 xc1f.8,216
11,532
30
June
to
1
Apr
20,319 zdf.14,962 xdf.21,688
22,294
Jan 1 to June 30
56,586 xdf.29,063 xdf.30,353
46,459
July 1 to June 30
57,544
x72,144 zdef55,904
65,445
June
Georgia RR
691,759 xdef18,582zdef180,737
732,696
July 1 to June 30
x126,378
216,451
207,852
x11,737
June
Hocking Valley
1,504,404 1,421,210 x1,429,421 x1,262,928
July 1 to June 30
zdef.8,647
23,946
23,324
x30,900
Kanawha & Michigan.. June
269.837 z136,049 x128,391
279,983
July 1 to June 30
11,352
34,531
8,707
34,135
Keystone Telephone Co_July
Lake Shore & Mich South3,279,171 2,813,935 x1,447,773 z1,047,262
Apr 1 to June 30
6,053,222 5,576,747 x3,137,853 x2,210,496
Jan 1 to June 30
3,587
3,979
3,958
3,554
June
Maryland & Penna
63,487
47,669
47,669
68,843
July 1 to June 30
zdef7,719
11,631
13,179
zdef1,079
June
Range
Mineral
152,533 zdef44,412 zdef31,005
172,803
July 1 to June 30
x202,608xdef239,884
June 8456,050 8551,766
Mo Kan & Texas
86,874,057 86,444,155 z940,884 z788,830
July 1 to June 30
68,851
142,686
153,905
77,759
Nashv Chatt & St L_ _ _ _June
660.806
1,817,520 1,815,967
648,931
July 1 to June 30
x22,511
3,867
3,771
x11,723
Nevada-Cal-Oregon.. _ _ _June
x136,341
143,386
x43,661
106,944
July 1 to June 30
N Y New Haven & Hartfordx4,587,448
x2,205,166
5,460,181 4,011,405
Apr 1 to June 30
10,476,381 8.484,429 x4,629,682 x1,536,327
Jan 1 to June 30
20,289,203 17,831,214 z7,430,228 x5,762,361
July 1 to June 30
184,665
161,093
86,070
87,747
N Y Ontario & West__ _June
1,114,782 1,012,605 1,343,127 1,420,589
July 1 to June 30
658,926
439,393
417,696
462,093
June
Norfolk eG Western
5,372,986 5,248,482 6,224,359 4,949,023
July 1 to June 30
441,589
870,742
639,415
May 868,625
Reading Company
9,554,875 9,578,163 8,316,022 8,496,482
July 1 to May 31
14,113
8,333
11,362
Rio Grande Junction_ _ .. May
8,333
74,152
50,000
55,878
Dec 1 to May 31
50,000
18,202 zdef.8,031
x6,364
19,288
Rio Grande Southern __June
228,072 xdef.21,848
x31,037
July 1 to June 30
232,410
Rutlandx27,606
184,698
183,896
Apr 1 to June 30
x21,113
371,839 xdef21,998 zdef47,355
Jan 1 to June 30
372,788
x94,173 xdef58,767
173,121
St Louis Southwest.. _ _ _June
103,347
July 1 to June 30
2,019,308 2,011,862 x724,169 x449,523
3,426 def.18,651 def.28.500
3,435
Texhs Central
June
297.818
36,594
38,394
130.882
July 1 to June 30
'
38,949
116,206
43,266
60,962
Toledo & Ohio Central_ _June
739,201
561,264
482,645
July 1 to June 30
861,984
-Bat. of Net E'ngs.-Int., Rentals,
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
x20,067
11,625 xdef3,072
22,866
Toledo Peor & West_ _.._June
330,572 zdef69,091 zdef81,133
300,329
July I to June 30
24,406 xdef8,129 xdef2,625
24,624
July
c After allowing for miscellaneous charges and credits to income.
d These figures are after allowing for other income and for discount and
exchange. The sum of $10,000 is deducted every month from surplus and
placed to the credit of the renewal fund.
S Fixed charges Include taxes amounting to $268 for June 1909, against
$65,673 in 1908, and additions and betterments of $4,674 this year, against
$17,395; from July 1 to June 30 taxes were $967,309 in 1909, against $688.243; additions and betterments were $433,412 for the same period, against
$546,444 the previous year. Prior to July 1907 it was the practice to include these items In the expenses.
x After allowing for other income received.
Roads.
STREET RAILWAY AND TRACTION COMPANIES.
Jan. ito latest date.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current
Year.
Current Previous
Year.
Year.
$
$
290,669 271,613
July
American Rys Co_
142,568 125,592
cAur Elgin 6: Chic RY June
28,823 26,638
Binghamton St By.. _ May
183,186 170,261
Birm Fly Lt & Power July
10,643
12,088
Brockton & Ply St Ry May
18,570 19,959
Cape Breton Elec Co_ June
67,257 64.823
Central Penn Trac_ _ _ June
67,940
67,481
Chariest Con Ry G&E June
1055,160 902,482
Chicago Railways Co. May
28,050
30.771
Cleve Painesv & East June
103,593 88,500
Dallas Electric corp.. June
Detroit United By _ _ 1st wk Aug 174,112 148,167
91,658 81,568
Duluth Street By...... July
164,888 166,729
East St Louts Fc Sub.. June
47,075 41,995
June
El Paso Electric
33.459
38,131
Fair Fe Clarksb Tr Co_ June
Ft Wayne & Wabash
115,981 110,034
Valley Traction Co June
June
Galv-Hous Elec
105,803 92,442
91,764
85,324
Grand Ramis By Co.. June
Havana Electric Ry_ Wk Aug 15 40,583 36,147
Honolulu Rapid Tran
June
34,689 31,637
& Land Co
Houghton Co Trac Co June
27,538 23,343
Illinois Traction Co_ _ June
341,192 324,272
Jacksonville Elec Co.. June
35,882
38,391
542,376 492,472
Kansas City By & Lt April
Kansas City-Western May
33,247 30,148
46,522
Knoxville fly & LtCo March
47,131
95,825 90,662
Lake Shore Elec By. June
54,143
31,373
Lex Fc Inter Rys Co.._ June
56,589 56,552
Littk Rk fly & El Co March
Memphis Street Ry_ _ March ........ 133,151 128,857
346,138 323,937
Milw flee Ry & Lt Co June
82,966 79,739
Mllw Lt Ht & Trac Co June _ __ _
Montreal Street Ry_ _ Wk Aug 14 77,933 73,661
Nashville By & Light June
143.644 130,191
198,203 174,444
North Ohio Tr & Lt_ June
90,550
North Texas Elec Co June
103,308
160,434 154,167
• Northwestern Elev.. _ July
Norf & Portsm Tr Co June
164,511 d164,527
Oklahoma City By.... June
39,630 23,771
18,496
Paducah Tr & Lt Co.. June
18,101
Pensacola Electric Co June
20,126 19,020
424,815 384,170
Portr d(Or)RyL&PCo July
Rio de Janeiro Tram
Light & Power_ _
June
625,793 575,903
St Joseph (Mo) By Lt
Heat & Power Co_ July
85,392 80,739
Sao Paulo Tr Lt & P_ June
184,778 180,606
Savannah Electric Co June
50,006
52,134
Seattle Electric Co.... June
522,470 358,207
14,078
15,177
Sou Wisconsin By Co June
Tampa Electric Co_ June
46,639 45,070
Toledo Rys & Light. June . _ _ 216,156 201,766
Toronto Railway._ _ _ Wk Aug 14 75,999 66,918
Twin City Rap Tran_ 1st wk Aug 143,073 132,633
Underground El By
of LondonThree tube lines_ _ _ Wk Aug 7_ 110,895 110,645
Metropolitan Dist.. I,Vk Aug 7_
18,220
18,780
United Tramways Wk Aug 7
18,950 110,767
United Rys of St L_ - July
948,240 898,210
United RI-is of San Fr June __ .__ 597,484 551,193
179.625 174,858
Virginia Fly .Sc Pow Co June
30,805 26,128
Whatcom Co By & Lt June
c These figures are for consolidated company.
the Norfolk County Ferries.
Previous
Year.
$
$
1,661,702 1,596,481
677,953
617,885
115,506
129,703
1,276,482 1,232,307
42,579
38,980
115,546
104,511
358,107
335,141
370,491
373,980
4,855,011
136,429
129,944
532,375
622,444
4,542,342 4,072,021
493,418
544,149
977,996
957,216
260,471
283,565
101,149
174,619
615,201
648,055
505,782
572,726
437,665
479,809
1,276,985 1,194,657
182,876
197,684
121,313
150,116
2,034,218 1,913,517
210,633
234,130
2,130,778 1.941,652
126,153
135,216
128,017
139,215
453,034
474,670
269,048
266,513
163,509
171,030
360,264
379,712
2,015,853 1,860,506
360,471
385,978
754,343
826,414
837,744
973,941
490,873
586,656
1,191,788 1,094,449
923,527 d875,620
121,603
186,726
112,727
108,647
96,767
116.735
2,897,593 2,482,966
3,635,879 3,330,915
543,997
1,188.170
292,552
2,604,774
77,479
293,505
1,301,488
2,249,524
4,026.807
493,796
1,142,408
282,394
2,167,962
73,482
211,958
1,230,373
2,068,248
3,714,473
1399,405 1361,045
1308,441 1278,618
1187,490 1207,566
6,339,810 6,061,765
3,568,904 3,341,453
956,396
1,014,195
173,249
189,029
d Includes earnings of
Street Railway Net Earnings.-The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of July 24, 1909. The
next will appear in the issue of August 28, 1909.
yeN
et Earnin
ar.
ar.
s
eyg
--Gross Earnings-i,
current
Precious
Previous
gist
Year.
Year.
$
$
203,524
446,835
174,728
Amer Cities By & Lt.a_July 483,072
Jan 1 to July 31
3,258,818 3,076,358 1,370,509 1,219,502
224,698
193,421
189,421
234,100
American Lt & Tract__July
Jan 1 to July 31
1,781,080 1,410,848 1,717,890 1,382,848
Aug 1 to July 31
3,093,296 2,563,891 3,013,106 2,526,329
81,212
170,261
70,486
183,186
Birm'ham By Lt & P_a_July
517,355
564,602
1,276,482 1,232,307
Jan 1 to July 31
44,422
81,568
37,039
91,658
Duluth Street By..b_ _ _ _July
217,840
493,418
18
:0
2
042
4155
Jan 1 to July 31
544,149
41,626
80,739
85,392
St Jo(Mo)RyLtHt&P b July
254,443
493,796
230,893
Jan 1 to July 31
543,997
898,210
850,731
319,682
948,240
United Rys of St L_a_ _ _July
Jan 1 to July 31
6,339,810 6,061,765 2,311,108 2,115,740
taxes.
deducting
after
a Net earnings here given are
b Net earnings here given are before deducting taxes.
Roads.
, Interest Charges and Surplus.
-Int., Rentals, &c.- -Bat, of Net E'ngs.Preyi0213
Current
Previous
Year.
yCurrentear.Year.
Yesar.
$
b
$
105,742
68,984
106,250
Amer Cities By & Lt _ _July
t
726,809
6,
211g
492,693
743,324
Jan 1 to July 31
26,005
18,622
Duluth Street By
18,417
July
417
1218,7
889
56,125
8,723
Jan 1 to July 31
128,917
20,668
21,286
19,990
21,636
St Jo(Mo) RyLtHt&P _ _July
143,337
108,180
Jan 1 to July 31
148,263
232,852
86,830
118,282
232,449
United Rys of St L
674,028
Jan 1 to July 31
1,637,080 1,628,401
48
9
6
50
3
853
87;3
x After allowing for other income received.
Roads.
AUG. 21 1909:;
THE CHRONICLE
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 31. The next will appear in that of Aug. 28.
Louisville & Nashville Railroad.
(For the fiscal year ending June 30 1909.)
The results for the year ending June 30 on the present
basis of accounting prescribed by the Inter-State Commerce
Commission compare with those of the preceding year,
which have been re-cast by the company, as follows:
RESULTS FOR FISCAL YEAR ENDING JUNE 30.
1908-09.
1907-08.
Inc. or Dec$45,425,891 $44,620,281 Inc. $805,610
29,627,499 33,694,967 Dec. 4,067,468
Operating revenues
Operating expenses
$15,798,392 $10,925,314 Inc. $4,873,078
1,437,992
1,393,761 Inc.
44,231
Net operating revenues
Taxes
$14,360,400
Operating income
Income from investm'ts, rents,&c. 1,395,124
$9,531,553 Inc. $4,828,847
1,421,345 Dec.
26,221
Total income
$15,755,524 $10,952,808 Inc. $4,802,626
$5,995,013 $5,882,252 Inc. $112,761
Interest on bonded debt
Rents
421,316
353,936 Inc.
67,380
Interest, general
9,733 Dec.
9,733
Additions and betterments
866,547
1,690,468 Dec. 823,921
Outside operations
75,555
Inc.
75,555
Sinking fund charges
264,3032
15 -1,792 Inc.
12,510
Reserve for doubtful accounts_ _ _
43,676 Dec.
43,676
South Fe North Alabama oper_ _ _ _ -ill,,,,, Cr.103,416 Inc.
514,819
Dividends (534%)
3,300,000
3,300,000
Total disbursements
Balance for year
-V. 89, p. 411, 225.
$11,334,136 $11,428,442 Dec. $94,306
sur.$4,421,388 def.$475,544 Inc. $4,896,932
Central of Georgia Railway.
(Report for Fiscal Year ending June 30 1909.)
Below we give comparative tables showing the operating
revenues and expenses for two years according to the classifications prescribed by the Inter-State Commerce Commission. Further data from the report will be given another
week.
INCOME ACCOUNT FOR YEAR ENDING JUNE 30.
Increase (+) or
1908-09.
1907-08. Decrease(-)
Average miles operated
1,916
1,913
+3
Operating Revenues$
Freight revenue
7,430,497
7,539,612 -109,115
Passenger revenue
2,744,115
2,869,368 -125,253
Mall, express and miscellaneous
536,414
530,271
+6,143
Other transportation revenue
190,783
177,774
+13,009
Other than transportation
253,373
265,988
-12,615
Total operating revenues
11,155,182
Operating ExpensesMaintenance of way and structures__ _ _ 1,544,714
Maintenance of equipment
2,119,689
Traffic expenses
321,621
Transportation expenses
3,432,075
General expenses
443,937
11,383,013
-227,831
+44,052
1,500,662
2,104,671
+15,018
312,728
+8,893
4,145,932 -713,857
-11,047
454,984
Total
Net operating revenues
Net revenue outside operations
7,8)32,036
3,293,146
61,548
8,518,977 -656,941
2,864,036 +429,110
63,285
-1,737
Total net revenue
Taxes
3,354,694
487,827
2,927,321
445,829
Operating income
2,866,867
Other IncomeDividends on stocks
420,221
Interest on bonds
8,043
Rentals of compresses and Lyons Br'ch
60,742
Other rentals
39,887
106,142
Hire of equipment-balance
Miscellaneous (interest on deposits,
85,621
rentals for leased rails, &C.)
2,481,492
+385,375
120,321
3,162
60,742
47,201
92,601
+299,900
+4,881
68,096
+17,525
3,587,523
Total income
Deductions157,222
Interest on equipment trusts
Interest on bonds
1,788,122
Interest on short-term notes
32,500
Rents of leased lines, &c
483,430
Expended for betterments
877,567
Reserved for betterments
159,535
Upper Cahaba Branch and Greenville
& Newnan bonds matured
60,000
Taxes on Western Ry. of Ala. stock and
Charleston & Western Carolina Ry.
bonds for period prior to July 1 1908_
213,502
Miscellaneous
12,984
2,873,615
+713,908
178,443
1,788,598
32,500
478,434
324,768
-21,221
-476
+427,373
+41,998
-7,314
+13,541
+4,996
+352,799
+159,535
16,298
+213,502
-3,314
Total
3,584,862
2,879,041 +705,821
Balance, surplus for year
2,661
def.5,426
+8,087
Note.-In the account of income available for interest on income mortgages there are added to operating expenses as above stated the following
Items: Payment for cotton destroyed by fire at Columbus,Ga. Nov. 1905,
as per judgment rendered, $69,943; additional charge to operating expenses
for renewal of equipment, $149,558.-V. 89, p. 162.
Consolidated Cotton Duck Co., Baltimore.
(Report for Half-Year ending June 30 1909.)
RESULTS FOR HALF-YEAR.
1909.
1907.
1908.
$4,649,877 $3,283,860 $5,392,372
Income from sales
18,160
Inc. from other sources_
27,968
25,337
1906.
$5,110,296
40,287
$3,668,037
$3,309,197
Cost of materials, labor,
$3,268,874
supplies, &c
117,600
Current int. & gen. exp.
$5,420,340
$5,150,583
$2,866,432
107,465
$4,658,486
129,470
$4,368,290
151,493
$281,562
Net earnings
Deduct int. on bonds of
constit.
incl. 1st.
M. bonds
cos.,
of Mt. Vernon-Woodberry Cotton Duck Co_ _ _ _ _
212,775
Div. on pref. stock_(i%)
(1%) 57,050
Balance, surplus
$11,737
$335,300
$632,384
Since the close of the year negotiations have been completed for the sale
of $3,500,000 5% refunding gold bonds on terms advantageous to the
company (see bond offering V. 88, p. 1502.-Ed.). The proceeds are
already in the treasury and will be used in discharging the company's
floating debt as it matures. We are therefore in a position to take full
advantage of the improvement in trade which, it is generally anticipated, is
soon to take place.
RESULTS FOR YEAR ENDING JUNE 30.
1907-08,
1907-08.
1906-07.
1905-06.
Gross profits, after charging cost of materials,
wages, salaries, selling
exp., taxes, insur. and
other oper. exp. and
bad debts
$1,359,191
$867,294 $2,464,194 $1,576,396
DeductRemuneration of officers,
8cc
$55,708
$51,000
$87,000
$91,927
Repairs and renewals, &c. 378,886
517,494
307,653
441,880
General interest
117,189
196,818
94,330
156,300
Total
$551,783
Net profits
$807,407
Int. on 1st M. gold bonds
39,583
Divs. pref. stock (7%)
598,262
Total deductions
Balance, surplus
Brought forward
Undivided profits
212,925
(2)114,100
213,075
(3)171,150
188,225
(3)171,150
$8,275
$248,159
$271,425
$555,472
$311,822
52,214
598,262
$760,794
$1,703,400
64,583
598,262
$628,137
$948,259
77,286
598,262
$637,845
$169,562
1,059,950
$650,476
•$338,654
a1,398,604
$662,845
$1,040,555
a608,049
$675,548
$272,711
a585,338
$1,229,512
$1,059,950
$1,648,604
$858,049
• Deficit. a After deducting $250,000 transferred to general reserve
account, increasing the total to $1,750,000.
BALANCE SHEET JUNE 30.
1909.
1909.
1908
1908.
AssetsLiabilities$
$
$
$
Plant,good will,&c.24,728,775 24,647,367 Pref. stock issued_ 8,546,600 8,546,600
Materials & supp. 3,887,962 4,198,682 Corn.stock issued _15,591,800 15,591,800
Accts.& bills rec... 900,042
718,360 Mortgage debt__ _ 750,000 1,000,000
Payments in adv_
95,448
104,385 Bills & accts. pay_ 2,566,777 2,696,263
N. E. & St. Co. of
Reserve account__ 1,500,000 1,500,000
Louisiana
12,500
149,746
139,246 Accrued interest__
16,667
Cash
435,216
752,805 Div. pay. July L
149,565
1,229,512 1,059,950
Balance
Total
30,197,189 30,560,845
-V. 89, p. 415, 49.
30,197,189 30,560,845
Total
United States Envelope Co.
(Report for the Year ending June 30 1909.)
Treasurer William 0. Day says: "There has been added
• during the year to our permanent plant and equipment, in
machinery, $57,529, and in real estate and buildings, $136,717."
RESULTS FOR YEARS ENDING JUNE 30.
1908-09.
1907-08.
1906-07.
1905-06
Profit 12 months
$642,182
$551,168
$662,827
$721,987
DeductInt. on 1st M. bonds__ _
$87,209
$120,000
$120,000
$120,000
Int. on deb. bonds, &c_
5,821
10,721
12,340
7,570
Div. on pref. stock-_(6%)225,000 (6)225,000 (6)225,000(5))206,25O
zDef. div. on pf. stk.(1%%)65,625
Depreciation
68,626
108,710
136,095
85,605
Sinking fund
75,000
75,000
75,000
Total
Carried to surplus
$452,281
$189,901
$513,175
$37,993
$568,435
$153,552
$520,681
y$142,146
x Leaving amount of deferred dividends as of July 11909, 12%.
y The company's printed statement for the year 1905-06 gave the surplus
as $160,896, after deducting $187.500 (5%) for dividends paid during the
year on the preferred stock, viz., 2%% on Sept. 1 1905 (paid out of the
earnings of the preceding fiscal year) and 23% on March 1 1906. In the
above we have deducted the dividend of 2;i% paid March 1 1906 and 3%
declared payable Sept. 1 1906, making a total of 5%% "paid and to be
paid out of the net earnings for the year ending June 30 1906, as stated in
the official report." In later years two regular dividends of 3% each are
deducted, including that paid Sept. 1 next following the fiscal year.
BALANCE SHEET JUNE 30.
1909.
1909.
1908.
1908.
AssetsLiabilitiesPlant Investment...6,254,903 6,864,659 Preferred stock
4,000,000 4,000,000
Stock on hand
798,868 691,609 Common stock
1,000,000 1,000,000
Accounts & bills rec_ 730,669 661,907 First mtge. bonds...2,000,000 2,000,000
Cash
*561,108 223,374 Debenture bonds
96,000 131,000
Cash for bonds, &c
8,167
60,410 Waukegan realty cerTreasury stock, corn. 250,000 250,000
174,000
tificates
Treasury stock, pref. 250,000 250,000 Bonds, &c., redeem_
60,410
8,167
Sinking fund
899,841 Accts. & bills pay_ __ 204,245 225,617
Machinery sold
990 Reserve for deprec_ - 600,000 550,000
Surplus
945,304a1,761,763
8,853,715 9,902,791
Total
8,853,715 9,902,791
*This amount of cash will be reduced by payments on cost of construction of new
factory at Springfield. a After deducting $809,002 adjustment of patent and good
will account and $197,360 premium on old issue and commission on new Issue of first
mortgage bonds.-V. 88, p. 1139.
Mahoning Investment Company.
(Report for Fiscal Year ending June 30 1909.)
The directors submit the following:
INCOME ACCOUNT FOR YEAR ENDING JUNE 30.
1908-09.
1907-08.
$3,684
5,940
(2 Yi)84,989(4 U)169,979
2,477
162
6% div. on $61,400 Jefferson Supply Co. stock
6% dIv. on $99,000 Mahoning Supply Co. stock
Div. on $3,999,500 Roch.&Pitts.C.&I.Co.stock_
Balance of interest
Total available
$172,456
$94,775
Deduct-Dividends paid on $4,126,200 stock outst'g_(2)82,524 (4)5165,048
General expenses
3,308
1,657
Total deductions
Balance, surplus
$84,181
$10,594
BALANCE SHEET JUNE 30.
1908.
1909.
$630,800
There has been expended the sum of $70,555 for renewals
and repairs for the six months.-V. 89, p. 413.
National Enameling & Stamping Company.
(Report for Fiscal Year ending June 30 1909.)
Pres, Ferd, A. W. Kieckhefer, Aug. 9 1909, says in brief:
Total
60,000
467
AssetsCost of 39,995 sit.
Roch. Pitts. C.
& Ir. Co.stock 4,125,000 4,125,000
8,400
8,400
Cost of misc. sec_
Bills receivable__ 200,000 200,000
73,800
73,800
Cap'l stk.in tree_
On deposit with
7,495
A. Iselin & Co.
Total
4,414,695 4,407,200
1909,
$168,356
$4.100
1908.
Capital stock _ _ _4,200,000 4,200,000
Bills payable_ _ _ _ 200,000 200,000
Due A. Iselin &Co
3,100
Profit and loss
surplus
14,695
4,100
Total
4,414,695 4,407,200
Rochester & Pittsb. Coal ec. Iron Co. Operations for Fiscal Year ending June 30'
1908-09.
1907-08.
1906-07.
.
$227,027
$654,586
$660,063
Net earnings
30,000
30,000
30,000
Taxes
128,021
133,550
130,588
Interest on bonded debt
122,813
121,556
135,986
Bond redemption and sinking fund
def.$53,807
Profit
475,050
Profit and:loss surplus beginning of y'r
$372,442
638,116
$360,527
427,202
$421,243
$1,010,558
$787,729
$355,974
9,534
4)170,000
$145,671
3,942
Total
DeductConstruction and equipment
Bad debts
Dividend on $4,000,000 stock
[VOL. Lxxxix
THE CHRONICLE
468
$8,260
(2 H)85,000(4
$93,260
$535,508
$149,613
$475,050
$327,983
$638,116
Profit and loss surplus end of year_ _ _
Out of the $122,813 charged to "bond redemption and sinking fund,"
$73,000 of the bonds of the company were paid and canceled and $51,000
bonds were purchased by the Guaranty Trust Co. as trustee under the
43i% sinking fund mortgage. There were issued during the year $50,000
sinking fund 4% bonds, making a total outstanding of $1,950,000, of
which $101,000 are in the sinking fund.
Secretary Lewis Iselin adds:
There was expended for "construction and equipment" $130,390, of
which $109,249 was on account of the further development of the new
coal-mining plant at Lucerne, Pa., mentioned in last year's report, and
which is ultimately destined to become a very important operation of
the company. The general depression in the bituminous coal and coke
business seriously affected the earnings of the company and prevented the
declaration of any dividend since the one paid in Aug. 1908. Since April 1
1909 the output of coal and coke shows gratifying increases over the same
period in 1908.-V. 88, P. 689.
British Columbia Packers' Association, Vancouver, B. C.
(Report for Fiscal Year ending June 30 1909.)
General Manager Wm. H. Barker,. Vancouver, B. C.,
July 16 1909, wrote in substance:
1899 and 51.3% in 1908. No reasonable expense has been spared to keep
the property in the highest state of efficiency. The accumulated reserve
on June 30 aggregated $467,212.
Outlook.-It seems reasonable to expect that the company will make an
even better showing this year than was made during the past fiscal year.
PROFIT AND LOSS ACCOUNT FOR YEARS ENDING JUNE 30.
[Keystone Telephone Co. of Philadelphia, the Keystone Telephone Co.
(of New Jersey) and the Eastern Telephone & Telegraph Co.]
1905-06.
1908-09.
1907-08.
1906-07.
$995,752 a$830,049
$1,073,462 $1,031,072
Gross earnings
Oper. & maint. charges,
incidg. taxes de prov'n
522,036
458,955
539,123
531,009
for doubtful accts
Net earnings
Reserves for renewals
Interest charges
$542,453
$100,000
312,308
$511,949
$100,000
313,113
$473,716
$100,346
265,630
$371,094
$79,643
214,233
Net profit for the year
Surplus of prey. year __
$130,146
6397,655
$98,836
8503,436
$107,740
423,361
$77.218
346,143
$423,360
$602,272
$531,101
$727,801
Tot. Burp. end of year__
_
a As the Eastern Company was not taken over until April 1906, its income for the last quarter of the year only is included.
b After deducting sundry adjustments pertaining to previous year.
aggregating $4,616 In 1909 and $27,666 in 1908.
COMBINED BALANCE SHEET JUNE 30.
[Keystone Telephone Co. of Philadelphia, The Keystone Telephone Co. of New
Jersey and the Eastern Telephone & Tele mph Co.]
1909.
1908.
1909.
1908.
$
$
Liabilitiesg
Assets$
Cap.stk.K.T.Co.of N.J.Cost of property,
Preferred, 6%__ 1,936,850 1,936,850
Including stocks.13,620,571 13,411,381
Common
5,000,000 5,000,000
IC. T. Co. of Phila.
Bds.(1)K.T.Co.of Phila.1st 5s pledged as
collateral
1st M.5% bds__ 5,443,000 5,312,000
862,000
827,000
1st M. 6% coll.
Mated us & Suppl's
97,228
124,339
251,000
trust bonds_ _ _ _ 210,000
133,221
Cash
180,904
Acc'ts & notes rec. 168,418
171,067
3-yr.6% coll. tr.
600,000
600,000
Relewal res. fund_
76,441
66,441
notes
250,000
Accrued assets._
24,275
39,096
E.T. &T. 1st 5s 250,000
Accts. payable,res.
& other current
463,211
384,974
liabilities
367,212
Renewal reserve_ - 467,212
602,272
727,801
Surplus
General Results.-We operated 10 canneries and 1 cold-storage plant;
our pack was 151,673 cases canned salmon, about 150 tons mild cured
-salmon, and froze our usual quantity of salmon, halibut and other fish;
also shipped about 750,000 lbs. of fresh halibut. Prices for canned salmon
were fairly good, but were not maintained, particularly for the lower grades,
which were in over-supply.
The balance sheet shows a net profit of $100,020 for last season's operations. We have on hand salmon valued at $66,811, and have used in
Total
15,019,838 14,782,545
Total
15,019,838 14,782,545
preparation for 1909 pack (including amount of inventories of materials) -V. 89, p. 414.
$762,781. Stock of frozen fish in cold storage on June 26 was $45,960,
and sundry accounts $22,348. We owed the banks June 30,$250,494; out'
Massillon Coal Mining Co.
standing accounts same date, $47.297. Your directors thought best to
only pay a 3 % div.dend last year, adding balance profit earned to work(Report for Fiscal Year ending May 31 1909.)
ing capital.
INCOME ACCOUNT FOR YEAR ENDING MAY 31.
Hatcheries.-We again filled our Nimpkish hatchery, turning out about
1908-09. 1907-08.
1908-09. 1907-08.
3,000,000 Sockeye fry. The natural spawning grounds were also well
seeded. We had every reason to expect some considerable returns this Coal sales (tons)
176,821 263,222 Net from coal sales___ $19,893 $76,362
10,112
7,295
year from the output of 1904, but so far we are disappointed, as the pack Receipts from sales.....$372,882 $554,579 Other income
Deductat Alert Bay is very small. There is time yet, however, to make a fair
Total net income___ $27,188 $86,474
pack. The two hatcheries on the Skeena'did very well; the natural spawn- Cost of produc'n, roy$9
alties,market'g,&c_ _$328,989 $458,121 Rent account
ing grounds were plentifully supplied. The hatchery at Rivers Inlet did
$100,000 $100,000
24,000
not do as well as last year, but turned out a good quantity; the natural Developing mines_ _
20,096 Depreciation
16,000 20,000
Interest on bonds_
spawning grounds were also well seeded. The Fraser River hatcheries
turned out quite a large quantity of Sockeye fry, taking into consideration
Balance, deficit__ - - $87,821 $33,526
Total deductions_ _ .$352,989 $478,217
that 1908 was one of the poor years.
Cold Storage.-The new addition to this plant has proved very satisfacBALANCE SHEET MAY 31.
tory; we have sufficient room for more business when it comes. Our fresh
1909.
1908.
1909.
1908.
halibut shipments have not increased, owing to the supply of other fish
AssetsLiabilUies$
$
$
$
In eastern Canada being abundant.
1,000,000 1,000,000
6,818
9,563 Capital stock
Preparations.-As this is the year we expect the big run on the Fraser, Cash in bank
Sulpl:e3,
coal,
&c_
_
200,000
_
300,000
North.
We
18,130
Bonds
13,299
thought
and
7
there
best
to
be
operate
15
canneries
we will
61,120
1,035
1,611 Accounts payable__ _ 139,709
conservative, and have prepared for a pack of 400,000 cases, or 50,000 less Bond sinking fund__
991,354 1,096,561 Royalties on coal
than packed in 1905-the last big year. Very few fish have shown on the Properties
1,009
1,278
26,263
mined end of year
16,446
Fraser; but as the season is a backward one, we are not alarmed, feeling Mine switches
Of:ice furniture
544
544
sure the usual run will come.
43,994
Stocks.-On June 30 we had on hand 30,449 cases of salmon, part of Mine developments_ _ 29,263
18,339
23,795
which was consigned to England, and in which we have some equity; some Accounts receivable_
7,905
7,905
considerable part of this has been sold, but account sales not yet received. Coal in fee
Advance royalties_ _. 69,613
69,301 ,
Stocks in England and elsewhere are very low.
Profit & loss, deficit_ 171,453
79,379
PROFIT AND LOSS ACCOUNT.
Balance as at June 30 1908
_5419,189
Total
1,340,718 1,362,398
Total
1,340,718 1,362,398
Less adjustment after realization of 1907 pack
-V. 87, p. 542.
93
5()
9 45,389
Less divs. on pref. stock for 6 mos. end. Nov. 20,06 (3 Ji%)_44$,4
$373,800
Profit for year ending Dec. 31 1908 after providing for deprec'n_ _ 100,020
GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
Albany & Hudson (Electric) RR.-Limit of Time of Deposits.-The New York Supreme Court having ordered the
sale of all the property of the railroad company on Sept. 8
1909, notice is given that the time within which the bonds,
preferred stock and common stock may be deposited with
The Trust Co. of America, 37 Wall St., New York, as depositary, under the reorganization agreement dated June 30
1909, has been limited to and including Aug. 31 1909, and
after that date no bonds or stock will be received except at
Total
3,568,220 3,446.155
3,568,220 3,446,155 the discretion of the committee and upon such terms as it
Total
*Not 1908.
may prescribe. See plan in V. 89, p. 223.
-V. 89, p. 350.
Ann Arbor RR.-Purchased by Friendly Interests.-See
Keystone Telephone'Co. of Philadelphia.
Manistique & Northern RR. below.-V. 89, p. 410.
(Report for Fiscal Year ending June 30 1909.)
Atlantic & Lake Superior Ry.-Sale.-A general meeting
President N. T. Folwell, Philadelphia, July 26 1909, of the holders of certificates of participation in the Atlantic
wrote in brief:
& Lake Superior Railway trust fund will be held on Sept. 14
Improvements.-During the past year the company has added to its 1909 at the office of Stibbard, Gibson & Co., solicitors, 21.
Philadelphia real estate holdine by purchasing three lots on Summer
Street, adjacent to the Race bxchange, and constructing a substantial Leadenhall St., London, England, for the purpose of apfactory building and shop. This building Is so situated that power, light proving an agreement for the sale of the railway belonging
and heat can be taken from the power plant of the Race Exchange. The
capacity of our toll lines has been very materially increased and extended. to the trust fund. Compare V. 87, p. 740, 165.
Additional conduits have been constructed in Philadelphia and Camden,and
Baltimore & Ohio RR.-Guaranty of 4% Notes of C. H. &
the capacity of the cable system has been increased In both cities. An additional submarine cable has been laid in the Delaware River, increasing D. Ry.-See Cincinnati Hamilton & Dayton Ry. below.
our facilities between Philadelphia and Camden and other South Jersey -V. 89, p.
410, 102.
points.
The conduit system has been extended and now consists of over 12,500,000
Buffalo Rochester & Pittsburgh Ry.7-Equipment Bonds.feet of vitrified tile ducts located in 335 miles of street, and containing
over 2,500,000 feet of cable. In addition to the home plant, the company In order to enable the company to acquire 1,000 new coal
operates In 21 suburban towns and a large number of villages. At present cars and 1,000 new box cars, the Public Service Commis30,000 Keystone telephones are installed in Philadelphia and Its suburbs,
sion, Second District, has approved the issue of $580,000
as against 17,000 in 1905, 21,000 in 1906 and 27,000 in 1907.
Funded Debt.-The amount of first mortgage 5% bonds outstanding equipment bonds of series E, making $1,716,000 of this
a
was increased during the year by $131,000, making total on June 30 of
S5,443,000, of which $720,000 is pledged as collateral security for $600,000 series outstanding; also $183,000 series F, making a total
3-year 6% collateral trust gold notes due March 11910. Since the close of of $2,828,000 outstanding; likewise about $980,000 of a new
the fiscal year the company has exercised its option and called for the
above notes for redemption on Sept. 1 1909. During the year the total of series, "G." The series last named will be limited to $3,6% collateral trust bonds was reduced to $210,000 through the retirement 000,000 gold 4s of $1,000 each, dated Oct. 1 1909 and due
of $41,000 bonds.
prior redemption, but having
Earnings.-The gross earnings increased $22,391, or 2.13%; operating Oct. 1 1929, without option of
and maintenance charges, including taxes and provisions for doubtful ac- an annual sinking fund equal to 6% per annum of issued
counts, decreased $8,114, or 1.54%, and the net earnings available for bonds.
Interest payable A. & 0. at office of A. Iselin &
Interest and reserve, &c., increased $30,505, or 5.96%. Ratio of operating and maintenance charges, including taxes, to gross earnings, 49.5% in Co., New York.-V. 89, p. 407.
Profit and loss June 30 1909
$473,820
BALANCE SHEET JUNE 30.
1909.
*1907.
1909.
'1907.
$
Liabilities$
Assets$
Bldgs.,mach.,b1s,dtc.2,485,102 2,476,207 Ordinary shares_ .._ A,511,400 1,511,400
42,750 Preferred shares_ _ _1,270,000 1,270,000
Columbia cold st'ge. 123,055
13,839 Due Bank of Mon8,278
B.C. traps,sites,b1dgs
73,063
treal and Canadian
Packers'SS.Co.,Ltd 92,845
Bank of Commerce 250,494 228,835
7,000
7,000
Nimpkish hatchery_
22,348
7,465 Sundry credtors
Sundry debtors
47,297
20,741
Insurance reserve__
15,209
Salmon-consigned
10,106
66,811 291,737 Profit and loss
473,820 405,073
and on hand
Sundry advances__ - 762,781 534,095
AUG. 21 1909.]
THE CHRONICLE
Buffalo & Susquehanna Ry.—Coal Tonnage.—The company reports for seven months ended July 31 a movement
of over 1,000,000 tons
coal and coke originating on its
line, as compared with 680,000 tons for the first seven
months of 1908, an increase in 1909 of 47%.—V. 88, P. 451,
448.
mtral of Georgia Ry.—No Money for Income Interest—
Annual Report.—The board of directors "has ascertained
and declared that for the fiscal year ending June 30 1909
There are no net earnings or income applicable to the payment of interest on the first preference, second preference and
third preference income bonds of the company, or any of
them, and has determined that no interest is payable
•thereon." See "Annual Reports" on a preceding page.—
V. 89, p. 162.
Central New England Ry.—Commission Disapproves Plan.
—The Public Service Commission, Second District. on Aug.
15 decided adversely to the plan advocated by the New York
New Haven & Hartford RR. for making a new $20,000,000
mortgage covering this company's 'property, chiefly on the
ground that while the plan provided for the refunding of
bonds, income bonds and unpaid coupons presented by the
company itself, or by the N. Y. N. H. & H., it would
not grant the same privilege to other holders, by whom $2,331,377 of the bonds are owned. The decision of the Commission affords the following information:
ör
Stocks, Bonds, Coupons, ea., Outstanding and Held by N. Y. N. if. & H. RR.
and others.
Total
Held by
Owned by N.
Capital Stock—
Outstand'g. Y.N.H.&H.
Others.
Common stock
$4,800,000 $4,415,395
$384,605
Preferred stock
3.750,000
339,624
3,410,376
Total stock
$8,550,000
Indebtedness—
First mortgage bonds
„
7
General mortgage incomes
7,250,000
_Newb. Dutchess & East. Incomes __ _ 1,164,500
do
do
do
coll. tr. bds.
216,000
Poughkeepsie & Eastern 1st M. bds_ i
500,000
Dutchess RR. first mortgage bonds_ _
350,000
Central New England Ry. notes
500,000
Loans and bills payable
1,090,000
$7,825,771 , $724,229
Total above indebtedness_
_ _$12,320,500
Unpaid Interest on bonds ($403,283)
and Interest thereon ($131,378),
which company desired to fund _ _ _ _
$9,989,123
x190,000
6,329,123
1,164,000
216,000
500,000
1,060,000
920,877
500
350,000
500,000
1,090,000
$2,331,377
$534,661
The Commission in a detailed opinion written by Chairman Stevens states its opinion as follows:
(1) The applicant (the Central New England) is not legally indebted for
the interest upon the unpaid coupons. (2) No sufficient reason has been
•shown why unpaid Interest should be made a capital obligation of the applicant. (3) A refunding scheme which embraces the securities held by
only one creditor, and that creditor In control of the applicant through stock
ownership, cannot be approved. (4) Under all the circumstances of the
case, the conversion of the incame bonds held by the New Haven Company
into fixed-interest-bearing bonds cannot be approved. [The plan proposed
to issue bonds bearing 4% interest In place of the Income bonds owned by
the New Haven road, except that said company was not to exchange about
61,000,000 of its income bonds for interest-bearing bonds at this time
Other parties were to have no right under the proposed mortgage to exchange their Income bonds for interest-bearing bonds.J—V. 89, p. 102.
Chicago & Western Indiana ER.—Called Bonds.—Eightynine ($89,000) general mortgage bonds of 1882, drawn for
redemption, are payable on Sept. 1 at 105 and interest at
office of J. P. Morgan & Co.—V. 89, p. 162.
Cincinnati Findlay & Fort Wayne Ry.—Return of Bonds.—
The committee (Albert H. Wiggin, Chairman) representing
the first mortgage gold 4s deposited under agreement of
Nov. 5 1908 announce that they have collected the coupons
payable Nov. 1 1908 and May 1 1909, with interest thereon
at 6%, and will pay the same and return the bonds on surrender of the certificates of deposit to the Bankers' Trust
Co., No.7 Wall St. Compare Cincinnati Hamilton & Dayton
Ry. below.—V. 88, p. 230.
Cincinnati Hamilton & Dayton Ry.—B. & 0. Representatives Elected—New Mortgages Filed.—The plan of readjustment having become effective, the two new mortgages have
been filed for record, the "first and refunding mortgage”
for $75,000,000 to the Bankers' Trust Co., New York, as
trustee, and the general mortgage of $20,000,000 to the Central Trust Co. of New York, trustee. Receiver Judson
Harmon turned over the property to the company on Aug. 19.
The management has been changed as follows, giving the
Baltimore & Ohio virtual control of the road.
New directors representing Baltimore & Ohio RR.: Oscar G. Murray,
L. F. Lore°, George F. Randolph, Samuel Rea, George M. Shriver,
William
Cotter. A director, to represent the 4
notes, will be elected later.
Old directors remaining: George W.Perkins, Charles Steele, Frederick NV.
Stevens, George F. Baker, George W. Young and Norman B. Ream.
Officers: Chairman of board, Oscar G. Murray,
of the Baltimore & Ohlo RR. Co.; who succeeds George W.President
Perkins; President,
William Cotter; Vice-President, .1. _L. Cramer; Secretary,
Thomas J.
Walsh; Treasurer, F. M. Carter.
Directors who retired: F. D. Underwood (former President),
Rhodes, W. L. Dechant, J. L. Cramer, George F. Brownell, J. H. R. R.
Clarke,
N. Monsarratt and Henry P.Shoemaker.
Coupons.—Asannounced by advertisement on another page,
J. P. Morgan & Co. on Aug. 16 began paying the past-due
coupons, with lawful interest thereon,from the following:
Amount Out.
Coupons Overdue.
Cincinnati Indianapolis & Western
Ry. Co. "1st & ref." 4s
$4,672,000 July '08—Jan. & July '09
(Int. on coupons $1 35, $0 75 and $0 15 respectively.)
End. Decatur & West Ry. 1st M.5s_ 3,162,000
do
do
(Int. on coupons $1 69, $0 94 and $0 19 respectively.)
Cinc. Findlay & Ft. W. Ry. 1st M.48 1,150,000 Nov. 1908—May 1909
(Int. on coupons $0 95 and $0 35 respectively.)
Chic. Dayton 6: Chic. RR. 1st M. 4s 1,200,000 Oct. 1908—AprIl 19091I
(Int. on coupons $1 05 and $0 45 respectively.)
Cinc. Dayton & Iron. RR. 1st M. 5s 3,500,000 Nov. 1908—May 1909
(Int. on coupons $1 19 and $0 44 respectively.)
Purchase money notes of C. H. & D.
Ry., 4%, dated Jan. 1 1908_ _ _ _•11,557,000
July 1909
(Interest on coupon $0 15.)
• Includes a small amount exchangeable for the few outstanding refunding
bonds. See below.
469
Endorsement of B. & 0. on $11,557,000 Purchase Money 4%
Notes Dated 1908, Due July 1 1913—Exchange of Refunding
Bonds for Notes.—Pursuant to the readjustment plan (in
V. 88, p. 1436, 1498) and to the terms of a supplemental
trust agreement dated July 1 1909, made by the Railway
Company and the Baltimore & Ohio RR. Co., with Central
Trust Co. of New York as trustee, providing for such guaranty and modifying said trust agreement, the Baltimore &
Ohio RR. Co. will endorse its unconditional guaranty of
payment of principal and interest on such of the purchase
money collateral trust 4% gold notes dated Jan. 1 1909 and
due July 1 1913 (total amount $11,557,000, including those
reserved to retire the few outstanding refunding bonds),
as shall be presented for that purpose to Central Trust Co.,
No. 54 Wall St., New York City, and be stamped as subjected to said supplemental trust agreement. Holders of
the refunding bonds who desire to obtain the benefit
of such guaranty, must exchange their refunding bonds for
purchase money notes; and such exchange may be made
through Central Trust Co. on the same terms and conditions
on which exchanges have previously been effected. (V. 86,
p. 108, 720, 856, 1589.)
The Railway Company reserves the right to terminate
this offer at any time without notice. J. N. Wallace and
Frederick Strauss, the committee formed under the agreement of Dec. 9 1905, recommend the holders of such notes
and bonds to avail themselves of the foregoing offer.
Exchange of 43% Notes Dated 1905 and Due Sept. 1 1908
for New General Mortgage Bonds.—The Central Trust Co.
announces that, on surrender of the certificates of deposit
issued 'under agreement of May 24 1909 in exchange for
43
/
2% notes dated 1905, and due Sept.1 1908 ($15,000,000 of
said notes were issued), it will give in exchange per plan in
V. 88, p. 1436, 1498, for each $1,000 note, with coupons
attached, $60 cash and $1,000 par value of the temporary
form of new general mortgage gold bonds of the Cincinnati
Hamilton & Dayton Ry. Co. dated July 1 1909 (total issue
$20,000,000), to draw interest as follows: 434% dependent
upon income until July 11911; 1% fixed and 33-% dependent
upon income until July 11914; 3% fixed and 1M% dependent
upon income until July 1 1916; thereafter 434% fixed.
C. D. & I. Bonds to Be Returned.—Alvin W. Krech, Chairman of the committee representing the Cincinnati Dayton &
Ironton RR. Co. 5% first mortgage bonds,announces that,
upon the surrender of certificates of deposit for the abovenamed bonds to the Equitable Trust Co. of New York, No. 15
Nassau St., holders of the same will receive the bonds represented thereby and the sum of $18 49 per bond, being the
amount collected on the May 1909 coupon with legal interest, less the expenses of the committee, amounting to $6 95
per bond. The Nov. 1908 coupon on the deposited bonds
was purchased by the cointnittee.—V. 89, p. 410.
Supplemental Trust Agreement Dated July 1 1909 as to 4%
Notes Dated 1908, Due July 1 1913—B. & 0. Guaranty.—
The aforesaid supplemental trust agreement dated July 1
1909 between the C. H. & D. Ry. Co., the B. & 0. RR. Co.
and the Central Trust Co. (trustee), with respect to the
"purchase money collateral trust 4% gold notes," dated
Jan. 1 1908 and due July 11913, contains in brief the following, as well as other provisions:
•
(1) The refunding mortgage dated July 1 1904 is closed and the company
shall not issue any additional bonds thereunder.
(2) In order to secure the said notes to an aggregate not.exceeding $11.557,000, the railway company transfers unto the trustee $13,000,000 "first
an I refunding mortgage" 4% gold bonds due 1959 (issued under Its mortgage dated July 1 1909 to Bankers Trust Co., trustee), in substitution for
refunding bonds dated July 1 1904, as and when the refunding bonds deposited under the original agreement shall be canceled.
(3) The principal of the notes shall become immediately due in case of
default for 60 days by the rallway company and by the Baltimore Company.
In accordance with its guaranty thereof, In the payment of any installment
of interest on any of the notes, or in case of any default on the principal
thereof or in the observance of any covenant or of default on the interest
of the deposited bonds. (These provisions in the supplemental agreement
In case of default replace those In the original agreement.—Ed.)
(5) No note or coupon paid by the Baltimore Company or acquired for
Its account shall be entitled to share in the proceeds resulting from any sale
of the trust estate until all the other of said notes and coupons shall have
been paid in full, either through said guaranty or out of the proceeds of the
trust estate.
(6) The total issue of said notes shall not exceed $11,557,000.
(7) The notes. upon the endorsement of such guaranty, shall be deemed
Irrevocably subject to the conditions of this supplemental trust agreement,
and to have waived the effect upon maturity of past default in interest,
and to have acquiesced in the surrender (If and when canceled) to the railway company of the refunding bonds dated July 1 1904. On each note
guaranteed shall be stamped or printed: "This note is subject to the terms
and conditions of the supplemental trust agreement between the railway
company, the Baltimore & Ohio RR. Co. and the Central Trust Co. of New
York, dated July 11909, to which reference hereby is made. Central Trust
Co. of New York, trustee."
Guaranty to Be Endorsed by B. de 0. RR. Co. on the $11,557,000 4% Notes.
"For value received, the Baltimore & Ohio RR. Co. hereby guarantees
to the holder of the within note the punctual payment of the principal and
Interest of the within note at the times and In the manner therein specified,
and covenants in default of payment of any part of the principal or interest
by the maker thereof to pay at the times and In the manner therein specified
the said principal and interest as the same shall become due, upon the demand of the holder thereof.
"Dated the 1st day of July 1909.
[Signed "The Baltimore & Ohio RR. Co., by
Vice-President, and attested by
,(Assistant) Secretary.,
(8) The trustee shall authenticate notes up to an aggregate of not over
$11,557,000 In exchange for an equal face value of refunding bonds dated
deposit
tendered
for
1904,
under this trust agreement, as follows: (a) When
ever, prior to Nov. 1 1909, the committee formed under the agreement dated
Dec. 9 1905 of holders of the refunding bonds dated July 1 1904, shall tender refunding bonds to the trustee. (b) Whenever thereafter and prior to
July 1 1913 the railway company shall tender for deposit refunding bonds.
(9) That portion of Art. 7 of the original agreement referring to bonds
issued to refund the bonds of the Dayton & Michigan RR.-shall have no
further effect.—V. 89, p. 410. 348.
Cincinnati Indianapolis & Western Ry.—Interest Payment.
—Return of Bonds.—The committee (William A. Read,
Chairman) has collected the coupons payable July 1 1908 and
Jan. 1 and July 1 1909 on the "first and refunding mort-
THE CHRONICLE
470
[VOL. Lxxxix.
made to list these bonds on the New York
gage" 4s and also on the Indianapolis Decatur & Western Application will be Capital stock, outstanding, $1,000,000.
first 5s deposited with the Bankers' Trust Co., together with Stock Exchange.
substance:
interest at 6% on the overdue interest, and announces that A circular says inof bonds, limited to $900,000, is an absolute first
The present issue
upon surrender of the certificates of deposit to the aforesaid mortgage
on the road, terminals and equipment, &c., and under carefullybonds can be issued only at the rate of not
trust company the owners will receive their bonds and the drawn restrictions additional
and even then
exceeding $25,000 per mile, including proper equipment,
interest collected thereon. See Cincinnati Hamilton & only
1 M times the interest charges on all
earning
is
company
when the
extension. In
Dayton Ry. above.-V.88, p. 451.
outstanding bonds and bonds to be issued on the proposed
other road, through stock
the event of the property being acquired by anybe
lly guaranunconditiona
company,
must
-This
bonds
.Stock.
the
Ry.-New
Clearfield & Mahoning
ownership, lease or otherwise,
The sinking
teed both as to principal and interest by such other road.
operated under lease by the Buffalo Rochester & Pittsburgh fund,
beginning in 1912, makes provision for the ultimate voluntary retireRy. has increased its capital stock from $750,000, having a ment of a large part ofofthe issue.
about 33 miles of standard gauge steam railroad,
The property consists
rent:al guaranty of 6% per annum, to $1,000,000, all of one laid
to Belfry
with from 65 to 72-1b. rails, extending south from Bridger
imother
and
line
the
revising
for
Mont. The maximum
class, in order to provide
and thence westerly to Bear Creek;Carbon County,
between Belfry
and
1%,
of
M
than
less
is
Belfry
and
Bridger
61,
-V.
sold.
between
been
yet
not
has
stock
grade
provements. The new
for this latter piece
and Bear Creek 2.19%, with an average of 1% to 2%grade,
it will be seen
D. 710.
of road. As the haul from the coal mines is all down
railroad.
the
of
favor
in
is
grade
this
coal mined
Dubuque & Sioux City RR.-Dividend.-A dividend of that
ous
sub-bitumin
traffic consists principally of a high-grade
farm products,
33/% from the earnings of the fiscal year ending June 30 at The
Bear Creek, and in addition, sugar beets and otherpresent
six mines
at
are
There
&c.
miners,
for
the
supplies
together with
Co.,
1909 was paid Aug. 18 on the $15,000,000 stock, nearly all at
Bear Creek, two of which, belonging to the Amalgamated Copper
each mine
of which is owned by the Illinois Central.
are undergoing extensive development. The present output of
aggregate
ranges from 300 to 800 tons of coal per day, while their maximum
at nominal
capacity is 3,600 tons per day, which can be increased easily
12 feet.
cost to 6,000. The veins vary in thickness from 3 M to the
Clark's Fork
The Montana Wyoming & Southern connects with
closely by four
branch of the Northern Pacific at Bridger, and is surrounded
Pacific, the Great
Grand Trunk Ry.-Earnings.-For half-year (partly great railroad systems, viz.: the St. Paul, the Northern
through
Northern and the Burlington. The road, we are informed, controls
estimated in 1909):
outlet for the
the narrow gulches which it traverses the only practicable
down
profit
with
1909.
1908.
extended
be
The
line
can
Bear
fields.
Creek
1908.
the
1909.
coal from
Half-Year to
thence
June 30the Clark's Fork valley in a southerly direction to Box Canyon, and
180,494 westerly to Cooke City, a mining camp of low-grade copper ore, with silver,
Gross receipts_ _2,866,400 2,919,192 Bal. for half-yr_ 279,900
12,200
6,754 lead and other minerals.
Operating exp_ _2,079,200 2,137,287 Brought in
Prank S. Gannon (formerly Vice-President of the Southern Ry.) has
_
292,100
bal_
187,248
Divisible
781,905
787,200
receipts_
Net
accepted the presidency of the road and assumes active supervision.
_
196,800
div
185,622
Earnings for Fiscal Year ending June 30 1909.
- 440,500 485,945 Guaranteed
Chges., less cred.
85,000 .
First pref. illy
$138,0001Int. on $900,000 of bonds_ _ _$45,000
Gross earnings
35,000
346,700 295,960
Balance
Net (after operating exp.)_ _ 80,000 Surplus, after bond interest_
from
46,574
41,100
Mr. Gannon estimates the net earnings for the next six months
G. H. & M. def_
68,892
25,700
Can. Atl. deficit_
Sept. 1 at $60,000. Under efficient management and a return to normal
years.
few
a
the
within
should
earnings
double
business conditions,
10,300
1,626
Bal. forward _
180,494
Bailor half-yr. 279,900
Extract from Report of M. A. Zook, Expert Engineer, May 25 1909.
the •
-V. 88, p. 1253.
The road was built in 1906 and 1907 of standard construction, androad
and structures are therefore new and in good condition. The
Lake Superior & Escanaba RR.-Change in Control.-The track
According
district.
coal
the
the
to
of
mines
Creek
Bear
access
has exclusive
Milwaukee correspondent of the "Iron Age" says:
to the U. S. Geological Survey (report of 1907) the amount of coal available
Superior in this field is 1,238,896,000 tons. The coal is classified as high-grade
A controlling interest in the Mashack Iron & Chemical Co., Lake
of
Menomi- sub-bituminous and is the best in Montana. The mine development is
& Escanaba RR. Co., I. Stephenson Co. and Ford River Co., all
Milwaukee. substantial; six mines (owned by live companies.-Ed.) are now at work
nee and Wells, Mich., has been purchased by H. A. J. Upham,
recent
new
upon,
buildings
entered
and the output should increase annually. Notwithstanding theJune
Extensive betterments will be gradually
30
the net earnings of the road for the year ending
erected and improved equipment purchased. [The railroad extends from business depression,
bond issue for the
the
on
the
double
necessary
nearly
5
m.;
Woodamount
Escanaba,
to
show
Rock
1909
Flat
miles;
63
Mich.,
Wells to Channing.
of
development
further
conditions,
improved
With
125
m.
business
total,
Capi- fiscal year.
lawn to Camp, 13 m., and Northland to Kates, 44 m.;
with the additional equidment proposed, and intelligent
tal stock June 30 1908, $693,000; no bonds. Current liabilities, $285,465.- mines and market,
increases. The proposed
large
the
earnings
show
,
should
management
Ed.]
extensions are advisable and should be largely profitable.
1900.
3%
1901.
1
Recent Dividend Record
1907.
1906.
1902.
4%
1%
1908.
1%
• 1909.
Aug., 3%
Louisville & Nashville RR.-Bonds Called.-Forty-nine
Northern Ry. of Costa Rica.-Bonds Called.-Ninety-eight
bonds of $1,000 each, issued by the Henderson Bridge Co.,
dated Sept. 15.
have been drawn for payment at 105 and interest on Sept. 1 ($98,000) bonds issued under the mortgage
par and interest on
at the Central Trust Co. of New York, mortgage trustee. 1900 have been drawn for payment atTrust Co. of Boston,
Twenty ($20,000) Pensacola Division first mortgage bonds Sept. 1 at the office of the Old Colony by the United Fruit
company is controlled
numbered 8, 44, 56, 68, 70, 72, 82, 145, 167, 190, 199, 273, as trustee. The
336, 381, 419, 460, 472, 495, 544 and 596, will be redeemed Co.-V.81, p. 614.
at 105 and interest at the company's office, 71 Broadway,
Potomac Fredericksburg & Piedmont RR.-Mortgage.-New York, on Sept. 1.-V. 89, p. 411, 225.
The company. has filed a mortgage to the Pennsylvania Co.
Annuities, of PhilaManistique & Lake Superior RR.-New Company.-See for Insurances on Lives and Granting
delphia, as trustee, to secure an authorized issue of $750,000
Manistique & Northern RR. below.
first mort. 4% gold bonds dated June 1 1909 and maturing
Manistique & Northern RR.-Further Facts-New Com- June 11949, but subject to call at 105 on and after Dec. 11909.
Manistique
Marquette
to refund the old bonds which
pany.-This property, formerly the
Of the bonds $450,000 have been issued equipment,
and the remainingand for improvements and
& Northern RR., we learn, has been purchased by the have matured,
Denomination
the stockholders.
of
on
issuable
vote
the
are
$300,000
new
n
a
Co.,
corporatio
of trustee. Stock,
office
at
Manistique & Lake Superior RR.
Dec.
and
June
Interest
each.
payable
$1,000
from.
gauge)
extends
ft.
a
mortgage
and
(3
securing
$460,000; par of shares, $100. The road
with a capital stock of $250,000
37.6 miles. President, L.
rg to Orange Court House,
Secre
Richards;
W.
$1,300,000 25-year 4% non-cumulative income bonds. Of Fredericksbu
Geo.
Va.'
Treasurer,
Vice
Richards;
and
-President
Harry
the new bonds $1,100,000 are outstanding, the balance being tary, J. L. Savage. Office, Fredericksburg, Va.
in the treasury; they are dated Aug. 11909; interest payable
Air
Line Ry.-Shareholders Approve Plan.-The
Seaboard
yearly if earned. The Manistique & Lake Superior RR. was shareholders at the several meetings held on Aug. 4, 5, 6
be
will
it
managed
1
incorporated in Michigan in July 1909 and
and 7 voted to approve (1) the adjustment plan dated July
in conjunction with the Ann Arbor RR. Co., the same inter- 1909 (V. 89, p. 43); (2) the making of the new mortgages
ests controlling both.-V. 89, p. 411.
proposed by the plan, namely the refunding mortgage limMexico Northwestern Ry.-Purchase.-See Sierra Madre ited to $125,000,000 of 4% bonds and an adjustment mortLand & Lumber Co. under "Industrials" below. (Compare gage limited to $25,000,000 of 5% incomes;(3)the offering of
V. 83, p. 498, 1095; V. 84, p. 164; V. 86, p. 671.)-V. 89, $18,000,000 of adjustment bonds at 70% to the stockholders
p. :348.
in amounts equal to 30% of their holdings; (4) the undersyndicate for a commission
Michigan Central RR.-Payment of Maturing Bonds.-The writing agreement, whereby a
0 adjustment bonds to be
company's $1,500,000 6% bonds, secured by mortgage on the of 5% on the face of the $18,000,00
s the purchase at 70% of their par value of
property of the Grand River Valley RR. Co., maturing sold guarantee
as may not be subscribed and paid for by the
Sept. 1 1909, together with the attached coupons then be- such thereof
coming due, will be paid on and after that date at the office stockholders.
Time Extended to Sept. 4-Coupons to be Cashed.-The
of Charles F. Cox, Treasurer, Grand Central Station, N. Y.
mortgage 4% bonds and genNew Mortgage on Grand River Valley RR.-The new mort- time for the depositing of first
the Seaboard Air Line Ry.'s
gage upon the property of the Grand River Valley RR. Co. eral mortgage 5% bonds under 1909,
is extended to and inis dated Sept. 1 1909 and is executed jointly by the Michigan adjustment plan dated July 1
it is urged, should be made
Central RR. Co. and the Grand River Valley RR. Co. to the cluding Sept. 4 ;909. Deposits,
may be declared operative
Guaranty Trust Co. of New York, trustee, to secure a total at once in order that the plan possible date, and thus the
authorized issue of $4,500,000 of 4% 50-year gold bonds, and carried out at the earliest be avoided. See advertisewhich will be direct obligations of the Michigan Central RR. expense and delay of foreclosure
Co. Of the new issue, $1,500,000, or such amount as may ment on another page.
first mortgage 4% bonds
The overdue semi-annual interest coupons of the will
be needed, will be sold at some time in the future to reim- clue
be cashed upon deApril 1 1908. Oct. 1 1908 and April 1 1909
Co. of New York
burse the Michigan Central for the payment of the $1,500,000 positing them and the bonds with the Morton Trust
Co. of Baltimore
Trust
Continental
the
of
Co.
Trust
Boston.
the
Grand American
of bonds secured by mortgage on the property of
committee
has made arThe
the Bank of Richmond, Richmond, Va.
to bonds tinder
River Valley RR. Co., which mature Sept. 1 1909. So far and
rangements whereby the coupons due Oct. 1 1909 attached
to
the
paid
proceeds
respective
on
the
cashed
be
of
and
that date
the the plan will
as known, no definite appropriation has been made
presentation of said cerholders of the certificates of deposits therefor upon
remainder of the issue. None of the new bonds has yet tificates
to the depositaries issuing them for the endorsement of such payment thereon.-V. 89, p. 412.
been sold.-V. 88, p. 1254.
fered.Seattle Renton & Southern (Electric) Ry.-Bonds Offered.
Montana Wyoming & Southern RR.-Bonds
at
W. C. Langley & Co., 10 Wall St., New York, are offering at -Kennett, Cowan & Co., Chicago, are offering goldprices to
W
bonds,
97M and interest the unsold portion of the present authorized net 53%,$243,000 first mortgage 5% serial
; reissue of $900,000 first mortgage 5% gold bonds, dated dated May 1 1908. Total authorized issue, $1,000,000
the
Sept. 1 1909 and due Sept.• 1 1939, but subject to prior served for future betterments at not to exceed 70% of
redemption at 110. Interest payable M. Sr S. at Empire actual cost thereof, $400,000i now issued, $600,000. ComTrust Co., trustee, New York. Denomination $1,000 (c*). pare V. 86, p. 1468.
AUG. 21 1909d
THE CHRONICLE
Earnings for Fiscal Year ended Jan. 31.
1908-09. 1907-08. 1906-07.
$193,218 $182,295 $149,494
108,300
111,206
100,536
Gross earnings
Operating expenses
1905-06.
*118,763
95,315
$23,448
$41,194
$71,089
$92,881
Net earnings
For the first three months of the present fiscal year the gross earnings
were $50,289; operating expenses, $26,728; net earnings, $23,561.V. 86, p. 1468.
Tidewater Power Co.(Wilmington, N.0.)-Bonds Offered.
-Baker, Ayling & Co., Boston, recently offered at 95 and
interest, netting over 5.3%, $200,000 first mortgage 5%
sold sinking fund bonds, dated Jan. 1 1908, being the
total amount outstanding; limit of issue $2,000,000. A
circular says:
Additional bonds may only be issued to the amount of 85% of the cash
cost of new property and extensions, the company paying the remaining
15% out of earnings. But additional bonds can only be certified when
the net earnings are equal to 50% more than the interest on all bonds
outstanding and including the amount to be issued. A sinking fund will
become operative in 1913, and it is calculated should retire the entire
Issue by maturity; but the bonds cannot be called.
Extracts from Letter of General Manager A. B. S:celding. Wilmington. N.C.
May 14 1909
The bonds are a first lien on all of the property, rights and franchises
of this company, consisting of: 1, Electric railway, installed since May,
1907 and equipment for same, in the city of Wilmington; also additional
rolling stock and all extensions to electric light and gas properties and
suburban railway. (2) All the common and preferred stock, except 17
shares (in other words $448,300 out of $450,000 stock-Ed.) of the Consolidated Rys. Light & Power Co. The property of said company is
leased to the Tidewater Power Co. for 99 years at an annual rental paying
the interest on the bonds of the Consolidated,the sinking fund installments
by
thereon (which are to pay the entire $600,000 issue of that company
already
1932-leaving the property unencumbered; $33,200 bonds have a
ready
is
There
stock.
capital
its
on
been thus retired) and 5% dividend
„market for the stock of the Tidewater Power Co. at 85 to 90 for the preferred and at 32 to 34 for the common.
The proceeds of the $200,000 of bonds are to reimburse the Tidewater
Power Co. for cash already expended for new trackage and equipment,
and to provide steam turbines, car barn and shops, motor and trail cars,
and extensions to and enlarging gas mains.
The replacement value of the properties (exclusive of its franchises,
which are of great value) is. more than $1,650,000, against which there is
outstanding (including the bonds you have purchased) $766,800 of bonds,
the balance being represented by stoch investment.
The company derives its income from (1) electric railway department60% of the city lines are double-tracked,and the lines cover the desirable
to the
traffic streets in Wilmington and connect with the suburban line
(2) Light
ocean beach, via Wrightsville, a distance of about 12 miles.
business
departments-The company does all of the electric light and power
contracts;
in Wilmington, Wrightsville and the beach, including the city
it also owns a new and well equipped gas plant, including a new 150,000-foot
Wilmington.
double lift holder, and supplies the only gas manufactured in and
through
along the water front
(3) Steam dummy line-Running
the wholesale district. Leased to the Atlantic Coast Line RR. Co. until
1936 at a rental of $3,000 per year net.
1909.
1904.
Gas Dept.Electric Department- 1904. 1909.
14.67
12.28
Number of customers__ 340 1,266 Miles of mains
1,353
_700
142
customers__
Private
85
lights
arc
City
1,072
495
96 Ranges
__
Tunzsten street lamps_
143
56
Incandescent lights_ _ _7,746 19,362 City gas lamps
Earnings (Charges in 1908 include Interest on bonds now Offered, then unissued)
Gross. Exp.80 Taxes, Net. Charges, Bal., Sur.
$271,030 *175,847 $95,183 $50,645 $44,538
1908
31,708
48,501
80,209
155,883
236,092
1907
All franchises are perpetual; the street railway franchise is exclusive
until 1937. Wilmington is the seaport and largest city in North Carolina;
population in 1900 of 20,976 and in 1904 of 25,000. The present population
served by the company is about 36,000.-V. 86, p. 1468.
471
INDUSTRIAL, GAS AND MISCELLANEOUS.
Abilene (Tex.) Light & Water Co.-Bonds Offered.R. S. Vivian, 107 Dearborn St. Chicago, recently offered
6% first mortgage bonds
at par and interest, $150,000'
of $500 each (c*), dated Feb. 1 1909 and due serially on
Feb. 1 from 1912 to 1924, both inclusive, viz.: 1912, $6,000;
1913, $6,500; 1914, $7,500; 1915, $8,500; 1916, $10,000.
1917, $11,500; 1918, $12,500; 1919, $12,500; 1920, $13,000;
1921,. $14,000; 1922, $15,000; 1923, $16,000; 1924, $17,000;
Coupons payable half-yearly at Fidelity Title & Trust Co.
of Pittsburgh, Pa., trustee. A circular says
Organized under the laws of Texas, and has been in successful operation
for several years, controlling the entire service of water, light and ice in the
city of Abilene and suburbs. Holds extremely liberal franchises extending
beyond the maturity of the bond issue. Both plant and machinery are
modern, and the company's operations are increasing with the rapid growth
of the town of Abilene.
The supply of water is drawn from a lake near the town; the company
owns not only the lake and the land enclosing it, but several hundred acres
surrounding the lake. The electric light plant, in addition to serving the
city with electric light, supplies power to the street railway, and the ice
plant is located in the same building. The value of the entire property is in
excess of $400.000.
The city has a population of over 12,000.
The earnings of the company for the last fiscal year were in excess of
$70,000, with an expenditure of $35,000, and considerable of this outlay
was for new work in the shape of water mains and house connections. The
President and Manager is W. G. Swenson; Secretary and Treasurer, George
L. Paxton (of Citizens' National Bank); General Counsel, J. M. Wagstaff,
all of Abilene.
Albion(N.Y.)Power Co.-Court Order.-Justice Lambert,
sitting in Special Term of the Supreme Court at Buffalo on
May 7, granted an order allowing Receiver Sanford T. Church
to turn the Middleport Gas & Electric Co. over to its bondholders. The Middleport plant has been run at a loss of
about $2,000 a year for the last six months.
The Albion Power Co. began operation in 1898 and has outstanding
$194,900 stock and $257,000 bonds, including $75,000 first mortgage due
1909; $102,000 first consol. 5s, dated 1902; $30,000 third mortgage bonds;
$20,000 Albion Gas Light first 6s, due June 1 1915, and $30,000 Middleport
Gas & Electric Co. bonds. All of the above-mentioned bond issues are 112
default except the Gas Co. issue. The chairman of the bondholders' committee is Gen. B. W. Spencer of Passaic, N. J. The company has been
supplying electricity in Albion, Brockport. Middleport. Waterport and
Clark's Mill.
Amalgamated Copper Co.-Cost of Making Copper.-The
"Boston News Bureau" recently contained an article on
this subject of which the following is a summary:
What is the average cost of "making' copper in this country? We include in our calculations the production of Canada and Mexico, so that the
final results are those of the North American Continent. We find that,
excluding items of construction (beyond ordinary replacements) and depreciation,and taking no account of some charge which should properly be
made against exhaustion of ore, the average cost of making: copper is a
Were construction and improvement
fraction over 10 cents per pound
work treated as an operating charge, the average would be brought up to
cents.
at least 10
It cannot be denied that in many instances charges are made to capital
which justly belong in the expense account. Few companies, for instance,
can compare in the conservatism of heirbookkeeping with the Calumet &
Heels, all of whose expenditures are charged against the cost of doing
business.
The copper mines of America are outputting at the rate of somewhat over
lbs. of the red metal per annum. The current expense of
Toledo Bowling Green & Southern Traction Co.-New Of- 1,360,000,000
this product is $138,057,000, an enormous sum, of which
recovering
ficers.-The following changes were made this week:
probably 65% reptesents the cost of labor. We may subdivide this huge
place of copper total with respective costs as follows:
John Kilgour, formerly Vice-President, was elected President in ,place
Cost of Production
G. B. Kerper, and Harry J. Gibson Vice-President in place of Mr.
Total.
P.C.of Total
As. Per Lb. •
Output-PoundsTreasurer A. J. Becht, formerly acting Secretary, was also named as Secre35.6
cts.
89,
$41,050,000
-V.
fly
Street
483,000,000
Cincinnati
the
of
President
tary. Mr. Kligour is also
12.4
16,800,000
cts.
10
18,000,000
p. 412, 105.
38.6
56,437,000
10 3% ct8.
525,000,000
13.4
Toledo & Ohio Central Ry.-Dividends.-The dividends 191,000,000
23,770,000
123% cts.
announced last week, namely 5% on the pref. stock and 1%
on the common stock, payable Aug. 15 out of the surplus
earnings for the year ended Jtme 30 1909, were declared
on June 22. The dividends of the same amounts declared
last February out of the surplus earned for the year ended
June 30 1908, are the only other distributions made to the
shareholders since 1896.
In 1899 nearly all of both classes of stock had been acquired by the
Hocking Valley Ry, through the medium of the Middle States Construction
by the court to hold con.CO. In 1909 the Hocking Valley was forbidden
whatever."-V. 89, p. 412, 44
trol, and, we are informed. "owns no stock
Underground Electric Rys., London.-Earnings of SubCompanies.-For half-year ending June 30:
Baker Street & Waterloo RY.
Bal.,
Net Other Fixed -DividendsPassengers, Gross
First
Surp.
Ord.
Rev. Income.'Chas. Pref.
Rev.
Half. Number.
859
1909_14,325,085 91,510 49,286 1,896 21,925 13,200 x15,199
9,834
1908_12,940,801 83,529 38,078 3,142 18,183 13,200
Great Northern Piccadilly & Brompton RY.
2,493
1909_19,155,883 157,993 84,588 2,379 52,094 7,140 25,239
1908...17,446,477 147,764 72,781 1,056 44,274 7,101 17,589 4,873
Charing Cross Euston & Hempstead RY.
•511
370 35,046
1909_14,862,882 105,182 47,387
156 31,713 ----- ------- ---833
1908_12,132,839 88,883 32,390
Metropolitan District Ry.
1e317
11909...32,949,895 273,319 125,223 34,592 141,381 z18,750
*19,889
1908_29,626,586 247,899 93,070 30,579 132,601 z10,937
100.0
cts.
8138,057,000
10
Total
It will be seen that only 35.6% of the output may be classified as low-cost
copper. In this group we include all companies making copper for 9 cents
and under. Lake Superior, with the premier Calumet & Hecla, contributes
141,000,000 lbs. of this 483,000,000-113. total, or about 30%. The Copper
Queen of Arizona furnishes 100,000,000 lbs. of 9-cent copper and the Utah
Copper Co. furnishes 60,000,000 lbs. The balance of the "honor class" is
made up of North Butte, Mammoth, Calumet & Arizona, the Ely mines
and a number of smaller producers.
The next group, comprising 168,000,000 lbs. of output, or 12.4% of the
total, Includes copper made at over 9 cents,and not more than 10, the
most conspicuous member of this class being Boston & Montana (Amalgamated Copper Co.) with 90,000,000 lbs. of 93%-cent copper.
illThe largest division, embracing 525,000,000 lbs., or 38.6% of the total,
covers copper made for 10 cents and not over 11, and in this category are
such properties as Anaconda (Amalgamated Copper Co.), Butte Coalition,
Osceola, Quincy, Mohawk, Boston Consolidated, Greene Cananea, Granby,
Old Dominion, Detroit, Arizona Copper and others.
The last division is made up of miscellaneous production in all sections of
the country. It embraces copper made at a cost of over 11 cents and there
is here included a vast amount of metal which is produced at an absolute
loss. This product constitutes almost 15% of the total, and in some respects is the real menace to the copper market. It makes little or no
money for its owners and is throwing itself upon a market which Is to-day
burdened with just about this amount of excess production.
Of the major copper-producing districts Lake Superior is still the lowestcost copper camp in this country, and its rock or ore is of the lowest grade.
The average yield from Michigan rock is not over 25 lbs. of copper per ton,
and it must stamp almost 10,000,000 tons of rock annually to recover
237,000,000 lbs. of copper-its present yield.
The importance of the 8-cent producers of Ely and the prospective lowcost producers of the Globe and Kelvin camps is quickly appreciated when
It is realized that 52% of this country's copper is made at a cost of over
103% cents per pound.-V.89. D. 283.
x Includes in 1909 half-yearly dividend at rate of 1 3%.% per annum on
172,845 £10 ordinary shares, against % of 1% in 1908; also in 1909 an
additional dividend at rate of 13%% per annum on 29,803 £10 ordinary
shares held by shareholders other than the Underground Electric Rys. Co.,
.against 23%% in 1908. y Covered by surplus from previous half-year.
s "Dividends on guaranteed stock." • Deficit.-V. 88, p. 1561.
American Book CO.-Arkansas Suit.-Suit was filed
against the company on Aug. 13 in the Jackson Circuit Court
by R. E. Jeffery, District Prosecuting Attorney, and Hal L.
Norwood, Attorney-General of Arkansas, on the ground of
Valdez-Yukon RR.-Contract for Purchase and Construc- alleged violation of the anti-trust laws, fines amounting to
.tion.-Sce Hubbard-Elliott Co., Chicago, under "Industrials" $2,000,000 being demanded and the ouster of the company
from the State.
,below.-V. 83, p. 324.
Veblen & Northwestern RR.-Mortgage.-The company
has made a mortgage to the St. Louis-Union Trust Co., as
trustee, to secure an issue of $2,000,000 of 5% 30-year gold
bonds dated' July 1 1909, subject to call at 105 on and
after July 1 1914.
The bonds are issuable at $15,000 per mile to construct the projected
line from Aberdeen, S. D., to liarrott, Minn., of which it is intended to
build 40 miles at present. Denominations $200 and $500 each. Interest
payable at office of trustee. The company was incorporated in South
Dakota with $2,000,000 authorized stock, of which $500,000 to be Issued
.at present; par of shares, $100 each. President, A. H. Dahl; Vice-Pres.,
11, P. Taussig; See., A. Munson.
It is alleged that the company, as publishers and distributers of school
books, maps, &c. became a party to a pool or trust on Aug. 15 1906.
controlling 90% Of the business, and that prices are cut temporarily to
bar independents; that the defendant owns a large interest in the publishing
companies of Newson & Co., D. Appleton & Co. Prang Educational Co.
and other corporations and associations unknown to the plaintiff, and a controlling interest in Van Antwerp, Bragg & Co., Sheldon & Co., Harper & Co.,
Barnes & Co., Werner Book Co., University Publishing Co., and that,
while these companies are still in existence, the defendant dominates them
and competition is thus destroyed. The Arkansas statute is similar to
that under which the Texas proceedings were brought. Compare V. 88.
p. 1130.-V. 89. D. 102.
American Locomotive Co.-Financial Plan Not Yet Ready.
-Touching the report that pe company is contemplating
472
THE CHRONICLE
[VOL. Lxxxix.
an issue of $8,000,000 bonds or notes to retire outstanding
Cliff Electrical Distributing Co.-Proposed Purchase-New
note issues and capitalize recent improvements, an officer of Securities.-Application was made to the Public Service
the company says:
Commission, 2d District, at Albany on Aug. 19 for permission
Some time ago the directors authorized extensive improvements in our to increase the capital stock to $500,000 and to issue $1,500,of
the low prices of materials. It was understood
plants, to take advantage
when this was done that some financing would be necessary on this account 000 mortgage bonds; and also for authority to take over that
later on. The details of this financing are not complete, and if they were part of the franchise and .works of the Niagara Falls Hywould not be made public until presented to the board (probably the last
week in September-Ed.) They have not been submitted to the board draulic & Mfg. Co. (V. 86, p. 859) relating to the generating
and distribution of electric power, in which part of the petiand nothing definite has been done in the matter.-V.88, p. 1063.
American Pipe & Construction Co.-Series "A" Trust tion the latter company joins.
The new company will serve to separate the electrical development and,
Certificates Called-Offer of Exchange.-The Girard Trust CO.
properties of the Niagara Falls Hydraulic Power 66 Mfg. Co.
of Philadelphia trustee, announces that forty-five ($45,000) distributing
from its other properties, the latter company, besides its hydraulic canal
series "A" collateral trust certificates of $1,000 each and ten in Niagara Falls for furnishing water for power purposes, owning two flour
and various pieces of real estate not connected with the electrical
($5,000) of $500 each, issued under the former name of the mills
generating and distributing business.
American Pipe Manufacturing Co., have been drawn for
Commonwealth Edison Co. of Chicago.-New Stock.-The
payment at 1023/ and interest on Oct. 1. Cramp, Mitchell
& Shober of Philadelphia offer to purchase the series "A" shareholders will vote on Nov. 9 on a proposition to increase
certificates so drawn at the price named in exchange for the the authorized capital stock from $30,000,000 to $40,000,000.
Of the new stock, it is proposed to offer $3,000,000 to the
series "B" certificates at 973 and interest.-V.88, p. 566.
stockholders at par in amounts equal to 10% of their present
American Pneumatic Service Co.-Quarterly Report.-For holdings, to cover improvements
and extensions during the
the three months ending June 30:
coming year, including the building of Fiske St. plant, oppoTotal Cost, Gross
Total
Three
Interest
Fixed
Balance,
Paid. Charges. Sur. or Def. site the Quarry St. station. Sub-stations will also be enMos.- Income. Exp., &c. Profits.
*442,478 $341,862 $100,616 *27,568 *30,838 sur.$42,210 larged.-V. 89, p. 350.
1909
357,218
304,883
52,335
22,240
30,838 def.
1908
743
Consolidated Light, Power & Ice Co., Joplin, Mo.-Con-V. 89, p. 408, 44.
American Telegraph & Telephone Co.-Earnings.-For solidation.-See Empire District Electric Co. below.-V.82,
p. 103.
the first seven months of 1909 and 1908.
Seven Months ending Julg 311909.
1908.
Covina City (Cal.) Water Co.-Bonds.-This company in
Income from dividends
$9,794,638 $9,062,922
Int. and other revenue from associated cos_ _ _ _ 6,134,870
5,726,496 October 1908 last made an issue of $150,000 bonds.
Telephone traffic (net)
Real estate
Other sources
2,426,553
55,986
902,587
2,076,393
71,428
459,053
Total income
Expenses
$19,314,634 $17,396,292
1,432,840
1,247,761
Net earnings
Deduct interest
Dividend for 6 months, 4%, April and July
$17,881,794 $16,148,531
4,418,639
4,486,170
7,631,292
6,120,092
Balance, surplus
$5,831,863 $5,542,269
In 1909 all maintenance and depreciation is charged against expenses
monthly instead of being partly provided for by an extraordinary charge
In December as heretofore. In order that a true comparison may be made
between 1908 and 1909, the 1908 figures as now presented include in expenses for each month 1-12 of the extraordinary provision for depreciation
which was made in December 1908.-V. 89. p. 412, 288.
American Writing Paper Co.-Third Dividend on Preferred.
-A dividend of 1% has been declared on the $12,500,000
7% cumulative preferred stock, payable Oct. 1 to holders
of record Sept. 15. The only previous dividends were two
of 1% each, which were declared payable April 1 and Oct. 1
1907, but not paid until June 1908, after a favorable court
decision. Compare V. 86, p. 1532.-V. 88, p. 562.
Boston (Rubber) Belting Co.-New President.-Thos. F.
Forsyth has been elected President and General Manager
to succeed his brother, the late James Beni-lett Forsyth.V. 87, p. 1662.
California Development Co.-In Sheriff's Hands.-In January 1909 the company's property was placed in the hands of
the Sheriff of Imperial County, Cal., in a suit brought by the
Southern Pacific RR. Co. to recover advances aggregating
$1,405,927.
On the groundthat the company was directly responsible for the overflow
of the Colorado River Into the Salton Basin, during the flood seasons of
1904-05 (V. 84, p. 934), Judge Wellborn in the U. S. Circuit Court at Los
Angeles on Dec. 31 1907 awarded damages of *456,746 against this company to the New Liverpool Salt Co. The appeal from the decision of
Judge Wellborn was argued in the U. S. Circuit Court of Appeals on Oct. 23
1908. Nearly the entire capital stock, $1,250,000, It has said, has passed
into the hands of the Southern Pacific RR.-V. 84, p. 934.
California Electrical Generating Co., San Jose, Cal.-Bond
Issue.-This company, incorporated under California laws
on March 26 1908, with $25,000 authorized capital stock,
since increased to $7,500,000, early in 1909, filed a mortgage
to the Central Trust Co. of N. Y., trustee, to secure an issue
of $5,000,000 5% 40-year bonds. The "San Francisco
Chronicle" of Dec. 25 1908 had a dispatch from Oakland
saying:
The California Electrical Generating Co. Is incorporated for $7,500,000,
all the stock having been subscribed. Valuable holdings in the Sierra
are owned by the company, which plans to bring power from the mountains to the Bay cities. Guy C. Earl is President of the company and W.H.
Spaulding Is Secretary. The other directors are Charles W. Walter, Perry
Id. Reeves, Harold P. Pitts, Chester H. Pennoyer, Charles H. Benton,
Charles E. Minard, Thomas B. Pheby Jr., Thomas V. Maxwell and Ernest
W. D'Obraln. The capital stock is divided into 25,000 shares of preferred and 50,000 shares of common stock.
Incorporated Aug. 25 1908 with $300,000 capital stock to take over
the water holdngs, pipe line, &c., of Covina Land & Water Co. Among
the incorporators were H. E. Huntington, J. H. Coolman, Howard E.
Huntington, William Good and J. E. Brown.
Dan River Power & Mfg. Co., Danville, Va.-Consolidation.-See Riverside Cotton Mills below.
Dartmouth Manufacturing Corporation, New Bedford,
Mass.-New Mortgage.-This company, incorporated in
Massachusetts in 1895, and now 'having 4,000 looms for the
manufacture of fine, fancy and plain cotton and silk goods,
has recently made a refunding mortgage covering its real
estate and machinery to secure not exceeding $800,000 4%
gold bonds of $1,000 each, dated July 1 1909 and due July 1
1929, of which $450,000 are reserved by the trustees to retire
the first mortgage 4% gold bonds. The new bonds are not
subject to call, but the corporation, beginning in 1912 on or
before the first day of July in each and every year, will purchase at par, if offered, bonds representing 3% of the issue.
Interest payable J. & J. at Boston Safe Deposit & Trust Co.,
the trustees.
The $450,000 first mortgage gold bonds are dated Jan. 1 1902 and will
mature Jan. 1 1922. Denomination $1,000 each. Interest payable J.&J.
at Boston Safe Deposit & Trust Co. the trustees. Walter H. Langshaw
Is President and James W. Allen. Treasurer and Clerk.-V.89, p. 228.
Denison (Tex.) Light & Power Co.-Stock-Bonds.-This
Texas corporation, which on April 26 1909 filed a certificate
increasing its capital stock from $125,000 to $200,000, has
filed a mortgage to the St. Louis Union Trust Co., trustee, to
secure not exceeding $200,000 6% bonds of $1,000 each,
dated July 1 1909 and due July 1 1929; interest J. & J.
There were previously outstanding $100,000 first mortgage
6s, due 1921, interest J. & J. at St. Louis Union Trust Co.
President W. B. Munson.
Denver Gas & Electric Co.-Notes Called for Payment.The company has called for payment at its office on Sept. 1
at 100M and interest the $250,000 3-year 7% collateral trust
notes issued in 1907 (V. 86, p. 1533).-V. 89, p. 46.
Dufferin Light & Power Co., Ontario, Canada,-Bonds
Offered.-W. A. Faulkner & Co., Chicago, recently offered
at par and interest $55,000 7% first mortgage gold bonds.
Denomination $500, dated Nov. 1 1908, due Nov. 1 1918.
Coupons payable M. & N. An advertisement says:
The company supplies exclusively the towns of Orangeville, Shelburne,
Dundalk and Grand Valley, Ontario. Bonds authorized, $110,000; outstanding, $35,000; total revenue, $38,900; net profits, $19,100. The
purpose of tile above issue is for extensions to plant and service.
Eastern Steamship Co., Boston.-Dividend Prospects.Hayden, Stone & Co., Boston, New York, &c., have issued
a circular recommending the company's shares for purchase
in anticipation of dividend payments, which the firm believes will begin in October at the rate of 4% per annum,
'rate the stock at present prices
Central Leather Co.-Amendment of Charter to Permit payable quarterly, at which
Merger.-The stockholders on Thursday voted to confirm would yield about 6% per annum. The circular says in part:
This company has in the hands of the public: Bonds, $2,452,000; stock;
the action of the directors amending the charter so as to $3,000,000.
The fixed charges for 1909 are estimated to be as follows:
permit of the consolidation of the company with the United Interest, *123,050; sinking fund, $85,000; total, *208,050. The net earnings
for
1908
were
$412,266, exceeding the estimated fixed charges for 1909
States Leather Co. under the recent decision of the Court of by $204,216, or within
$6,000 of 7% on the stock.
Errors and Appeals of New Jersey.
Net earnings for the six months ending June 30 1909 show a substantial
The minority preferred stockholders of the United States Company,
represented by James B. Colgate & Co., who object to the consolidation,
will, it is said, continue their opposition thereto and begin a new suit at
once.-V. 89, p. 227.
City Gas Co. of Beatrice, Neb.-Tax Sale.-The property
has been ordered to be sold for unpaid taxes, the sale to take
place late this month.
• The property wassold a year or two ago.to satisfy the mortg.to the Farmers' Loan & Trust Co. of New York under which $30,000 bonds were outstanding, a new company being formed by the purchasers to take over the
same. The trustee's expenses were allowed to remain as a prior lien on the
property. The taxes not having been paid by the purchasers, the sale
therefor is to be held as above stated.-V.85, p. 224; V.81, p. 1317, 1725.
Increase over 1908, and it may reasonably be estimated that for the full
year 1909 net earnings will be not less than 8% on the capital stock.
In the autumn of 1908 we had the steamships examined by a competent
expert, whose valuation, plus the company's valuation of Its wharf properties and its net quick assets, equals the bonded debt and in excess of
$70 for each share of capital stock. We expect that in Oct. 1909 the company will Inaugurate dividends at the rate of 4% annum, payable quarterly, and that with careful management the reduction of the bonded
debt through the sinking fund and because of expected increases in earnings the rate of dividend can be increased and the shares ultimately sell
at a considerable advance.
President Calvin Austin is in full charge of operations. The company
operates lines of steamships, mainly for passenger business, from Boston
to Portland, Bath, Bangor, Eastport and St. John, the fleet Including the
steamships Belfast, Camden, Calvin Austin, Gov. Cobb, Gov. Dingley,
City of Rockland, R. B. Fuller, City of Bangor, Bay State, J. T. Morse,
Boothbay, Monhegan, Mineola, Catharine, Juliette, City of Augusta,
Island Belle, Nahanada, Damarin, Penobscot and Wiwurna.-V.88,p.509.
City Water Co. of Santa Cruz.-New Trustee.-The holders
of bonds secured by mortgage made May 1 1890 to the Holland Trust Co. as trustee will meet at the office of Street,
Edgewater Iron Co., Lebanon, Pa.-Bond Issue.-This
Wykes & Co., 43 Cedar St., Nqi,v York, on Oct. 4 to appoint company, incorporated in May last with $5,000 capital
new
a
trustee. F. R. King is President.
stock, made late in 1908 an issue of $150,000 bonds.
AUG. 21 1909
THE CHRONICLE
473
Treasurer, Lowdon W. Richards. Lebanon, Pa. Directors: Geo. L.
Record, Jersey City, N. J.; Lowdon W. Richards, Lebanon, Pa.; E. Surd
Grubb, Edgewater Park, N. J.
Home Telephone Co. of St. Joseph, Mo.-Bonds.--This
company in March last filed a mortgage to secure an issue of •
Empire District Electric Co.-Consolidation.-This com- $2,000,000 6% bonds, of which $750,000 are now outstandpany is being incorporated under the laws of Kansas with ing. The plant is in course of construction. Thurlow Gary
$6,000,000 of authorized capital stock, of which $4,000,000 s President.
An exchange says: 'The company has awarded contract for the conwill be common and $2,000,000 preferred (the present issues struction
of an exchange building on Tenth St. to the Selden-Breck Conto be $1,600,000 common and $500,000 preferred), to take struction
Co. The cost of the building is estimated at $80,000. The
over by consolidation the properties of the Consolidated company has taken over the system of the Andrew County Mutual TeleLight, Power & Ice Co. of Joplin, Joplin Light, Power & phone Co. under a lease for a term of 43 years."
Indianapolis (Ind.) Water Co.-Officers.-For record the
Water Co. and Galena Light & Power Co., and to own the
57% of stock of the Spring River Power Co. which was re- following changes, made last April, may be noted:
-President L. C. Boyd was elected President to succeed the late F. A.
cently acquired by Henry L. Doherty & Co. of New York, W.Vice
Davis; Secretary Hugh McK. Landon elected Vice-President; Frank C.
who are financing the deal. The new company will make Jordan
elected Secretary, and Thomas C. Howe, President of Butler College,
a bond issue amounting to $6,000,000, of which the imme- elected a director -V. 88, p. 1133.
diate issue will be $1,250,000. The following has been
Indiana 8t Michigan Electric Co.-Description of System.published:
Sanderson & Porter, engineers, New York and San FranThe capital stock of the Consolidated Light, Power & Ice Co. (V. 81, cisco, have had re-printed from "The Engineering Record" an
p. 103) Is $1,000,000, and the company has $370,000 in bonds outstanding.
The Spring River Power Co. has $1,500,000 capital stock and $830,000 of article regarding this company's hydro-eldctric development
bonds outstanding. The Consolidated Light, Power & Ice Co. furnishes at Berrien Springs, Mich., an undertaking with which the
power for commercial purposes generally throughout the district in which
it operates, and holds contracts for city lighting in Webb City, Cartersville firm acted as consulting engineers.-V. 88, p. 104.
and Galena. The Spring River Power Co. (V. 82, p. 52; V. 87, P. 100)
'Tenney Electric Co.-Arew Stock.-'This manufacturer of
supplies power for commercial purposes in Galena, Peacock, Joplin
and
Webb City, and also furnishes current to the Southwest Missouri RR. and electrical machinery, which is moving its plant from Inthe Joplin & Pittsburg RR. Honore Palmer, Samuel Brown and Arthur dianapolis to Anderson, Ind., it is stated, increased
its capiFarwell of Chicago were associated in preparing the present plan.
Plans have been made for the installation of a large electric-power plant tal stock on Nov. 19 1908 from $450,000 to $600,000.on Spring River, near Joplin, Mo., where the Spring River Power Co. now V.76, p. 1088, 1195.
owns and operates a plant of 10,500 h.p. capacity, which the proposed
installation will practically double. The buildings will be of structural steel
Jenkintown & Cheltenham Gas Co., Pennsylvania.and brick, and it is hoped to have the new plant ready for operation by Jan.1. Bonds
Culled.-All of the $12,000 outstanding 6% first III ort- .
Erie Preserving Co., Buffalo.-Sale.-On Aug. 24 Judge gage bonds were payable at the office of C. D. Barney & Co.
John R. Hazel in the United States Court at Buffalo author- in Philadelphia on Oct. 11908.
ized receivers Clark H. Timerman and William E. Peugeott
To refund the aforesaid ndebtedness there w ,s reserved $12,000
an
to sell the properties appraised at $81,000, at public auc- Issue of first refunding 5s dated Oct. 1 1903 and due Oct. 1 1933, of of
which
are outstanding. Interest A. dc 0. at Real Estate Trust Co.,
tion in that city on Aug. 24. The "Buffalo Commercial"says: $313,000
trustee, Philadelphia. Total authorized bond issue. $500,000; Pref. stock
The largest and most modern of the five plants is located at Model City,
Pa. The company's failure some time ago showed that the company was
In debt to the extent of about $400,000. Attorney John M. Hull states
that there is now in the hands of the receivers about $127,000 for disbursement among the creditors. The bids already received for these plants
Indicate that the sale may bring in about half what they are worth, say,
$40,000, bringing the total assets up to about $167,000, which means that
the creditors will receive about 40 cents on the dollar, roughly speaking.
The highest bid heretofore received for the five plants was $38,000, made
through Attorney Elmer G. Mansfield. [Capital stock outstanding at
last accounts, common, $145,700; preferred, $227,800. No bonds.]
5% cumulative (par $50), $37,500, of which $34,500 outstanding. Common stock, $100,000 (par $100). Pres.. Louis R. Dutton; Sec. and Treas.,
F. H. Shelton.. 1004 Pennsylvania Building, Philadelphia.
Kellogg Switchboard 8s Supply Co.-Control Restored to
Original Parties.-The American Telephone & Telegraph Co.
having returned the stock held by it to the former owners,
under the decision of the Illinois Supreme Court in Feb. last,
(V. 88, p. 567), the following officers and directors were
elected on April 27:
Fremont (Neb.) Gas & Electric Co.-Bonds.---A mortgage
Directors-Milo G. Kellogg, Francis W. Dunbar, Kempster B. Miller,
D. Kellogg, J. B. Edwards. James G. Kellogg and Wallace L. De
was made some months ago to Peters Trust Co. of Omaha, Leroy
Wolf. President, Milo G. Kellogg; Vice-President, Leroy D. Kellogg;
as trustee, to secure an issue of $100,000 first mortgage 6%, Secretary and Treasurer, Seymour Guthrie. Executive committee-Leroy
gold bonds, of which $60,000 were then issued, a part hav- D. Kellogg, Francis W. Dunbar and J. B. Edwards.-V. 88. p. 567.
Laurentide Paper Co., Grand Mere, Que.-New Stock.ing been used to retire the $30,000 6s for which the Illinois
The shareholders will vote Sept. 7 on increasing the capital
Trust & Savings Bank acted as trustee.
The company began operations in 1886 and its capital stock authorized stock from $2,800,000, consisting of $1,200,000 7% cumuand issued was recently Increased to $150,000, all outstanding; par $100. lative preferred and $1,600,000 common, to $3,800,000, conBonds dated Dec. 1 1907 and due Dec. 1 1927 without option of earlier redemption. Denomination $500. Interest payable June 1 and Dec. 1 at sisting of $1,200,000 preferred and $2,600,000 common. A
officeof trustee; the remaining $40,000 bonds iv+ re reserved for futureex- part of the $1,000,000 new common stock will be held for
tensions and Improvements. President, L. P. Funkhouser; Secretary and future
requirements, and the remainder, it is understood,
Treasurer, L. B. Wettling.
will be offered for subscription to present
Goodyear Tire & Rubber Co., Akron, 0.--This Ohio cor- There are $1,200,000 20-year 6% first mortgageshareholders.
sinking fund
poration lately filed two certificates, one reducing its capital gold bonds outstanding, due Jan. 2 1920.
stock $1,000,000 to $570,000, by reducing the common stock
Earnings.-For years ending June 30:
from $500,000 to $400,000 and preferred from $500,000 to Fiscal
Gross
Pref. Common Depre- Bal.,
Net
Total
$170,000, and the other increasing the total stock from
Year- Profits. Profits.
Div.
Div.
elation. Surp.
Surp.
1908-09_ 4496,893 $283,893 $84,000 $140,000 $20,000 $39,893 $326,318
$570,000 to $2,000,000, made up of $1,000;000 7% cumu- 1907-08._
429,799 251,458 84,000 104,000 20,000 43,458 286,425
lative preferred and $1,000,000 common stock. On June 4 1906-07_ 500,287 283,221
84,000
96,000 20,000 83,322 242,966
1909 there was outstanding $800,000 common and $500,000 -V. 87, p. 548.
Lead-Deadwood Gas Co. of Deadwood, S. D.-Status.preferred. Par of all shares, $100. No bonds. President
Edward M. Deane & Co., Grand Rapids, Mich., have been
F. A. Sieberling, Akron, 0., in May 1909 wrote:
The authorized capital stock has been increased from $1,000,000 to operating this property for the ownersfor the pastfew months,
$2,000,000, made up of $1,000,000 7% preferred stock and $1,000,000 with the ultimate idea of perhaps purchasing the
same, but
Common stock. It is proposed to sell any additional that we may put out
at par without bonus for the future needs of the company as they may arise. as yet have not fully decided to do so. At last accounts the
There is at present a $300,000 bond issue outstanding, which will be taken capitalization consisted of $200,000 of capital stock and
up and mortgage canceled this month. The amount of stock that will be
outstanding at that time cannot now be determined. [The pref. shares are $100,000 of 6% bonds, due 1911.
callable at 105 on and afterJuly 1912. Both classes have the same voting
Lincoln (Neb.) Telephone & Telegraph Co.-Consolidapower. On May15 the common was quoted In Cleveland at 150 bid,the pref.
at 98 bid. The company was incorporated in Ohio in 1898.-V.79, p.630. tion.-This company was incorporated in Nebraska Jan. 2
Great Northern Iron Ore Properties.-Third Dividend of 1909 with $2,500,000 of authorized common stock and
$1 per Share.-The directors on Aug. 20 directed that a third $200,000 7% cumulative non-voting preferred stock (redistribution of $1 per share be made on Sept. 15 to holders deemable at par), all in shares of $100 each, of which $514,000
of their permanent certificates of beneficial interest of record common and $100,000 preferred is outstanding, as a consolion Sept. 1. Dividend No. 1, also $1 per share, was paid on dation of the Lincoln Telephone Co. and its allied toll-line, the
Telephone Co. The following is furnished:
Sept. 16 1907 and No. 2, of the same amount, on March 16 Western
The new company has made
bond issue of its own, but it bought the
1908. The number of shares outstanding (no par value) is automatic plant of the LincolnnoTelephone
Co. subject to an authorized
bond Issue of $650,000; amount outstanding, $564,000 first gold 6s, dated
about 1,495,720.-V. 89, p. 414.
Dec. 11903, due Dec. 1 1923, but subject to call on one year's notice at 105.
Interest payable June and December 1 at Central Trust Co. of Illinois.
(B.& S.) Heinemann Timber Co.(Wausau and Heinemann, Sinking
fund, 5%•
Wis.).-Bond Offering-Further Facts.-The $400,000 first
The Lincoln Telephone Co. (with franchise expiring Aprll 9 1953; prices
service, $24 and $48) earned in 1908, gross, $139,739 (against $120,984
mortgage 6% serial gold bonds offered at par and interest by for
in 1907); net, after oper. exp. maintenance and taxes, $69,335; interest
McCoy & Co., Chicago (V.89, p. 289) have their semi-annual and dividends, $37,204; balance
'to surplus account, $32,131. The Western
Telephone Co. earned in 1908 about $30,000 gross and $15,000 net. The
interest payable at Continental National Bank, Chicago. new
company has about 7,000 telephones in use, also 1.600 miles of toll
Denominations $500 and $1,000 (c*). Principal payable at Ines, and holds stock of several cos., among them the United Telephone Co.
Neb. President, Frank A. Woods; Sec. and Treas.. Chas. J.
the Chicago Title & Trust Co., joint trustee with Wm. C. Bennett,
Bills. Office, Lincoln. Neb.
Niblack, Chicago. A circular says:
Navigation Co.-Mortgage.-A 6% mortgage
Manhattan
Capital stock, $250,000; bonds authorized and outstanding, $400,000.
These bonds are guaranteed, both as to principal and Interest, by endorse- for $50,000, dated Aug. 9, has been made to the Mechanics'
ment on each bond by B. Heinemann, President, and by S. Heinemann, Trust Co.of New Jersey, covering the
lease of northern half
Secretary of the company. jointly and severally, their net personal worth,
exclusive of any equity in the property under this mortgage being more of ground floor of Houston St. pier, new No. 39, North River,
than twice the amount of the entire bond issue.
bulkhead
together
with
adjoining
same;
also leasehold propThis issue of bonds is secured by a first and closed mortgage upon 29,920
acres of virgin timber lands, located in Langlade, Marathon and Lincoln erty in Albany and Troy, N. Y., and steamers "Frank
counties, Wisconsin, owned in fee and conservatively estimated to contain Jones" and "Saratoga."
207,458,000 feet of merchantable timber, besides 270,515 cords of cord
wood, 44,950 cedar telegraph poles and 117,700 cedarposts. The mortgage
is also a first lien upon the two complete saw-mill plants of the company,
one located at Lumberton, four miles from Antigo, Wis., on the Chicago
& North Western Ry., and the other at Heinemann, Wis., on the Chicago
Milwaukee & St. Paul Bit. The property has been appraised at $1,251,379.
-V.89. D. 280.
The company was incorporated in April 1908 with $250,000 capital
stock by George A. Lindsay, Wm. Needles, Peter Henderson and others,
and has recently taken over the property of the New York & Albany
Transportation Co., sold under foreclosure on July 27 1909 (V. 89, P• 229)•
Massey-Harris Co., Ltd. Toronto, Ont.-New Stock.This Canadian corporation filed on Jan. 23 1909 a certificate
H. 0. Company.-Reorganization.--See Edward Ells- increasing its authorized amount of capital stock from $8,worth Co. in V. 89, p. 228.
000,000 to $12,000,000 in shares of $100 each and providing
474
THE CHRONICLE
"for the allotment of 20,000 shares of the increased capital
stock." The company manufactures agricultural implements.
Marysville Canal & Improvement Co., Fremont County,
Idaho.-Bonds-Status.-The Trowbrige & Niver Co.,
Chicago and Boston, in December last offered at par and
interest first mortgage 6% bonds of an issue of $100,000.
Dated July 1 1906. Principal and interest (Oct. 1 and Apr.
1) payable at American Trust & Savings Bank, trustee,
Chicago. Denomination $500. Maturing serially on Oct.
1, viz: $10,000 in 1908, $15,000 yearly in 1909 to 1912,
$10,000 in 1913 and $5,000 yearly 1914 to 1917,all inclusive.
Bonds maturing on and after 1913 are redeemable at 103
on and after that date. A circular said:
These bonds are issued in accordance with the "Carey Act" and in
addition to being a first mortgage on the company's rights In Its dam
and canal system , are secured by first liens upon the lands served, deposited with the trustee, aggregating $125,000. These liens are given
to the canal company by the settlers in payment for perpetual water
rights and average $15 per acre. The value of the lands thus encumbered
is estimated at $60 per acre. These farm liens represent the unpaid
balance on the purchase price for water rights, 10% having been paid in
cash. They draw 6% and 7% interest, and are payable in five and ten
annual installments, thus creating a fund.from vOlich the bonds are paid
off as they mature.
The Marysville tract is situated in Fremont County. Southeastern Idaho,
near the head of the famous Snake RiverValley, n consists 0118,000 acres
especially adapted to agriculture and sugar beet growing. The company
has built a dam across Fall River at a coat I $20,000 and a canal 20 miles
long, the main canal being 12 feet wide at bottom and 16 ft. wide at top,
carrying 3 ft.of water, and has several miles of laterals. The canal system
has been in operation for several years an is now enlarged and completed.
Irrigation has transformed over 16,000 acres of unproductive land Into
fertile farms.
(F.) Mayer Boot & Shoe Co., Milwaukee.-New Stock.This company, incorporated in 1884, filed at Madison, Wis.,
on Jan. 7 a certificate increasing its capital stock from
$1,250,000 to $1,500,000, all common and all outstanding;
par of shares $100. No bonds, mortgage or liens. President
George P. Mayer says:
We added to our factory only a year ago and its present capacity is 7,000
pairs a day; but our business is increasing so rapidly that we are almost up
to the limit of our capacity. Therefore we have increased the capital stock
to be prepared for future conditions, when business demands that we make
further additions to the plant. Nothing, however, is contemplated for
the present. The Secretary is F. J. Mayer; Treasurer, A. J. Mayer.
McGraw Coal Co., Grafton, W. Va.-Bond Issue.-This
company recently made a mortgage to the Union Trust Co.
of Baltimore, as trustee, covering 3,170 acres of coal
land in Barber and Laylor counties, W. Va., which were
pourchased last fall from the Western Maryland N.R. by John
1'. McGraw for, it is said, nearly $500,000.
The mortgage secures an issue of $650,000 6% sinking fund gold bonds
•of $1.000 each, dated July 1 1908, and due July 1928. On Sept. 14 none
was outstanding, but $100,000. It is understood, wa ; about to be Issued
to refund $100,000 of prior mortgage indebtedness payable Sept. 19, and
a further $100,000 was reserved to retire the remainder of the prior issue
of $200,000. The company is a West Virginia corporation with $600,000
of authorized capital stock, all common.
President, John ,T. McGraw, Grafton, W. Va.; Vice-President and
General Manager, John F. Brophy, Frostburg, Md.; Secretary and Treasurer, John Keating, Cumberland, Md.
Memphis (Tenn.) Consolidated Gas & Electric Co.-Description of Electric System.-See "Electrical World" of New
York for Jan. 25.
•
The company was incorporated In Delaware on March 18 1903 and took
over the property of the Equitable Gas Light Co. and Memphis Light So
Power Co., asuming the first mortgage 5% bonds of each, $1,250,000 and
1 1929. A consolidated
31,000,000 respectively, due Jan. 1 1931 and May
mortgage was made to the Central Trust Co of New York 89 trustee to
secure an issue of $10,000,000 5% bonds dated 1903 and due Jan. 1 1943
(interest Jan. 1 and July 1 at office of trustee), of which some $2,000,000 Is
outstanding and $2,250,000 reserved to retire said cid bonds. Capital
stock is $4,000,000; par of shares, $100. A. N. Brady of New York is
President.-V. 76, p. 708.
Merrill Timber Co., Jackson, Miss.-Bonds 0ffered.Peabody, Houghteling & Co., Chicago, recently offered at
par and interest the total issue, $135,000, first mortgage
6% serial gold bonds, dated Sept. 1 1908 and due $27,000
annually on Sept. 1 from 1909 to 1913, both inclusive, also
redeemable in the reverse of their numerical order at the
end of the first year or of the second year at 105 and interest,
or at the end of the third year, or on interest dates thereafter, at 102M and interest. Denomination $500c*.
Augustus S. Peabody, trustee. Principal and semi-annual
interest payable at office of Peabody, Houghteling & Co.,
Chicago. A circular says:
A closed first mortgage on all property now owned (or hereafter acquired).
Including 9,270 acres of virgin timber lands in Madison County, miss.,
estimated to contain over 70,000,000 feet of merchantable timber, principally yellow pine and oak, along the Pearl River, a fine driving stream,
about 40 miles northeast of Jackson, Miss. The land is excellent for
farming after the timber has been removed. Under the mortgage no
timber can be removed during the life of these bonds. Expert valuation:
land, $30,000; timber, $248,150; total, $276,150.
Interest, by the
The bonds are guaranteed, both as to principal and
F. F. Nicola of Pittsburgh
joint and several endorsements on each bond of
of Jackson, Miss.,
and G. B. Merrill & Bro., successful lumber operators,
the aggregate
who own the entire capital stock. By signed statements
net worth of these guarantors is considerably more than ten times the
and
interest
principal
and their
both
issue,
bond
this
of
total amount
for the payment
income is so much in excess of the annual requirements
of both that there is no question of their ability to protect this issue.
Mexican Light & Power Co.-Slide in the Necaxa Hydraulic
Pill Dam.-The "Engineering News" of New York for July 15
contains an illustrated article regarding the slide on May20 of
715,000 cubic yards of the up-stream portion of the Necaxa
hydraulic-fill dam, under construction, into the reservoir
above it. President F. S. Pearson, in a circular dated
London, July 11909, says:
On this basis the cost of the replacement should amount to approximately
£40,000. The accident will only delay the completion of the dam by about
six months. At the present time, in spite of the accident, the reservoir
formed by the dam can store 15,000,000 cubic metres of water, which is as
much in all probability as would have been stored during this rainy season
In any event. The accident has not affected the actual operation of the
power house, except for a short time when the slide occurred, nor has it
affected the supply of power to any of the customers of the company. The
earth filling, which has been in place for some time at the dams which are
[VOL. Lxxxix.
already completed, nas solidified satisfactorily,and no anxiety need be felt
as to permanency of these dams or the dams under construction.
The business is in a flourishing condition and the accident will not adversely affect the present or future earnings.-V. 88, p. 1582, 1502.
Michigan Copper Mining Co.-Assessment.-An assessment
of $2 per share has been called on the $2,500,000 stock (par
$25), payable Sept. 6 at the American Trust Co. of Boston.
This will make the stock about $20 per share paid in.
rand Rapids, Mich.-Bond
Michigan-Pacific Lumber
Co.,do., Detroit, New York and
Offering.-E. B. Cadwell &
Grand Rapids, are placing at par and interest the unsold portion of this company's issue of $500,000 first mortgage 6%
gold bonds. A circular says in part:
Capital stock, $1,500,000, consisting of 150,000 shares of $10 each,ful
paid and non-assessable. Bond issue, $500,000 first mortgage 6% gold
coupon bonds, denominations $1,000, $500 and $100 (0); dated March 4
1909 and due $50,000 yearly on March 1 from 1911 to 1920, both inclusive,
subject to redemption at 105 at any interest period. Principal and interest
(M. & S.) payable at Michigan Trust Co., trustee, Grand Rapids, Mich.
Sinking fund, 50c. on each 1,000 feet of timber cut and sold from the lands
held under license and $1 for each 1,000 feet of the first 50,000,000 and
$3 for each 1,000 feet of the remaining timber cut and sold from the Crown
grant lands. These bonds are issued to provide trust fund of $50,000, to
ensure prompt payment of Government license fees; to furnish a cash working capital of $60,000, and to refund all indebtedness.
The property Is situated on the Southwestern shore of Vancouver Island.
30 miles by water from Victoria,and within 125 miles of Seattle, Tacoma and
Vancouver. The tract of timber is in one compact body directly on the
Strait of Juan De Fuca, which is the gateway to the Puget Sound district.
The trees in the forest are largely of Douglas fir, cedar and spruce, many of
which will yield from 10,000 to 20,000 feet of lumber to the tree. The,
dock, railway, locomotive, log trucks, donkey engines, camps and equipment are all new and of the latest type. The railway is standard gauge and
Is completed back into the timber 1 j miles. The dock is built for double
track 850 feet long and so constructed that cars are automatically unloaded.
The security
The present annual capacity is 50,000,000 feet of logs.
back of the bonds consists of large tracts of standing timber owned In fee
and controlled under license from the Canadian Government, amounting to
1,552 acres of Crown grant lands and 30,080 acres of timber limits, or more
than 50 square miles. An expert values the standing timber at $1,545,000.
viz.: Crown grants, 204,000,000 feet, at $1 75 per 1,000 feet, $357,000; timber limits, 2,378,000,000 feet at 50c. per 1,000 feet, $1,188,000. The bond
issue of $500,000 on the above stumpage is for less than 200. per 1,000 feet.
Directors-Chas. W. Liken, President, Sebewaing, Mich.; John H.
Moore, Vice-Pros., Seattle, Wash.; C. A. Phelps, Treasurer, and Wm. F.
McKnight, Secretary. Grand Rapids; S. M. Cochran, Chas. T. Moore and
W. T. Coleman, Seattle; E. B. Caldwell, New York, and Wm.L. Carpenter
Detroit.
Mississippi Glass Co.-Status.-Francis, Bro. & Co., St.
Louis, recently offered ,at 1023 and interest, a small block of
the first mortgage 6% sinking fund gold bonds dated May 2
1904, due April 1 1924,but subject to call at 110 and interest.
Interest payable A & 0 in New York City. Total issue,
$1,000,000; outstanding, $691,500. Denominations, $500
and $1,000. The firm say:
Organized under the laws of New York State, being a consolidation in
1904 of the former Mississippi Glass Co. of St. Louis, the Rolled Glass Co.
and the Appert Glass Co. of New Jersey, its capital stock being $3,000,000.
These bonds are secured (I) by all the capital stock of the Mississippi Glass
Co. of Missouri, with plants at St. Louis and Vandalia, Ill. (the St. Louis
plant Includes 17 acres of ground within the city limits, recently appraised
at over $700,000); (2) by all the capital stock of the Mississippi Glass Co. of
West Virginia, with plants at Morgantown, W. Va., and Latrobe, Pa.;
(3) by about 56% of the capital stock of the Mississippi Wire Glass Co. (for
several years this company has paid 16% on its stock); (4) by the plant of
the Mississippi Glass Co. of New York, at Port Allegheny, Pa., formerly
known as the ApPert factory. There are no underlying securities existing
upon any of the plants.
The company manufactures, besides wire glass (this being only a minor
part of its business), rough, ribbed, figured and other forms of glass.
through control of the Mississippi Wire Glass Co., manufactures most of
the wire glass consumed in the United States. Since 1904 has paid dividends aggregating 38 %, being an average of about 7'%% per annum,
The earnings are more than ten times tile annual interest charges which
only amount to $41,490. The protection afforded by wire glass was demonstrated in the Baltimore and other fires, as well as the San Francisco
disaster.-V. 88, p. 567: V. 78, p. 1552; V. 84, p. 1310.
Suit Against Controlled Co.-See Mississippi Wire Glass Co.
below.-V.88, p. 567.
Mississippi Wire Glass Co.-Suit.-A suit was filed in the
Chancery Court at Newark, N. J., on July 14 by some
of the preferred stockholders to restrain the alleged improper
payment of dividends to the common stockholders and compel an accounting.
The company is controlled by the Mississippi Glass Co. (see above).
which owns a majority of the stock, of which there was outstanding at last
accounts $400,000 5% cumulative preferred and $1,200,000 common (authorized issue $1,500,000; par of shares $100). Dividends on the common
stock have been, it is stated, at the rate of 16% since 1903, except In 1908
when 13% was paid. It is alleged that the dividends have been paid, In
large part, at least, out of capital, instead of profits, the company being
managed in the interest of the common stockholders, with a view solely
to the declaration of the largest possible dividends upon the common stock.'
-V. 76, P• 869.
Montreal & St. Lambert Terminal Development 00.Bonds.-A Canadian financial paper states that the $300,000
bonds have been well taken by investors, and are now being actively traded in at par plus a 40% common stock bonus,
while the stock is now being separately traded in more or
less freely at from $25 to $30 per share.
The bonds were offered in March last by the Bank of Toronto on behalf of the underwriters at par, carrying a 50%
bonus of common stock. The bonds are first mortgage sinking fund 6% gold coupon bonds, due March 11939. Denominations $100 and $500, interest payable M. & S., National
Trust Co., Montreal, trustee. An advertisement said:
Authorized capital stock. $350,000; authorized bond issue, $300,000.
The company owns some 8,000,000 square feet of land to be improved for
residential lots in St. Lambert, which is a growing town situated on the St.
Lawrence River directly opposite to and connected with the City of Montreal
by the Victoria Jubilee Bridge of the Grand Trunk fly. The terminal yards
of the Grand Trunk Ry. ill occupy 100 acres of land, which Is practically
surrounded by the property of this company, making the latter a most
desirable locality for home sites for the shop and terminal workmen employed by the Grand Trunk fly.,the Inter-Colonial Ry.,the Central Vermont
and the Delaware & Hudson fly., as well as a favorable place for factory
sites. The Southern Counties Electric fly., now under construction from
St. Lambert to Montreal, via the Victoria Bridge, will pass through the
company's property and will give access to the center of the City of Montreal
in about 15 minuets' running time, at suburban rates. The land will be
divided into 2,300 lots of 2,500 square feet each, and should sell at from 80.
to 20 c. per foot, or approximately $712,500.
Directors.-E. B. Greenshields, William Wainwright, M. M. Reynolds.
Frank Stott, D. Lorne McGibbon, A. G Brooke Claxton, K. C., and Godfrey Berd, all ot Montreal.
AUG. 21 1909.]
THE CHRONICLE
Mutual Steamship Co., Ltd., Toronto.—Bonds Offered.—
Wood, Gundy & Co. of Toronto have recently been placing,
at prices to yield 59( to 6% (according to maturity), the
entire authorized issue of $70,000 first mortgage 6% bonds,
due in installments on Jan. 1 yearly, $7,000 per annum 1912
to 1915 and $10,500 per annum 1916 to 1919, but subject
to call, all or any, at 105 and interest on any interest date.
Principal and interest (J. & J.) payable at any branch of
the Imperial Bank in Canada. Par $500 and $1,000.
Trustee, National Trust Co. A circular says:
These bonds rank as a first charge on the steel steamship Canadian, built
at Newcastle-on-Tyne in 1907 at cash cost of $144,862 and having carrying
capacity of 120,000 bushels of grain. The company is incorporated under
the laws of the Province of Ontario and has an authorized capital of $250,000, of which $153,000 is paid up in cash. It owns the Canadian and
Arcadian and operates them in connection with the Merchants' Mutual
Steamship Line, one of the strongest, if not the strongest, combination of
freighters on the Great Lakes. President, Donald McGillivray, Port Colborne. Ont.
475
has been completed by the Southern Pacific RR. Co. The company's
holdings embrace 80 acres, now being enclosed by a granite breakwater,
constructed under the supervision of the United States Engineer's Office.
This breakwater will be completed within 90 days. The company owns
and operates its pumping plant for the delivery of dredgings to its property.
This plant Is capable of making an acre of ground five feet deep in two
days continuous pumping. The plant orks on an average of 22 hours
out of 24, in conjunction with the united States dredge San Pedro. Over
$225,000 has already been expended on this property. The property is
admirably located for dockage purposes. Slips for shipping will be built
on the Inner Harbor and docks or piers on the outer or ocean frontage.
About 10.000 feet of dockage will be available, affording facilities for the
handling of the largest vessels in any kind of vs eather. The property
adjoins that controlled by the San Pedro Los Angeles & Salt Lake RR.
Estimated annual rental at $125 per acre per month, $90,000; fees from
dockage and wharfage, 2,500 feet at $28 50 per foot, $71,250; total estimated revenue, $161,250. Bond interest (average), $22,000; sinking fund
(average), $18,000; operating expenses, taxes, &o., $30.000; estimated
balance applicable to dividends on stock, $91,250. President, J. C.
Wickham. Offices, 624-5 Merchants' Frust Building. Los Angeles, Cal.
(The) C. Pardee Works, Perth Amboy, N. J.—Bonds
Ofiered—Status.—Fanshawe, Cadwalader & Co., Phila.delphia, recently offered at 943 and interest a small block of
first mortgage 5% bonds dated Aug. 1 1906 and due Aug. 1
1931, but subject to call at 105 and interest on any interest
period on and after Aug. 11911. Denominations $500.and
$1,000c*. Girard Trust Co., Philadelphia, trustee. Authorized and outstanding, $300,000. Interest F. & A.
A circular says:
National Breweries, Ltd., Montreal.—Consolidation.—
This company was incorporated on April 22 1909 under the
Canadian Corporation Act, with $10,000,000 of authorized
capital in $100 shares, of which part is to be 7% cumulative
preferred stock, and with a proposed issue of 6% serial
bonds, in order to take over the following breweries in the
Province of Quebec, giving therefor its securities and cash,
A New Jersey corporation, with a full-paid capital stock of $1,000,000.
viz.: Canadian, Dawes, Montreal, G. Reinhardt & Son, [At Incorporation
Jan. 8 1895—not 1905—stock was $750,000, par $100
Imperial, Union, Amyot, Boswell and Douglass. We are —Ed.) Owns 100 acres of land In fee, situated at Perth Amboy, N. J•,
on the Raritan River, with sidings of the Central RR. of New Jersey,
be
some
will
it
that
months
yet before the amount Lehigh Valley RR. and Pennsylvania RR. on the property. The land Is
informed
of bonds and preferred stock will be definitely known. The estimated to be worth over $3,000 per acre for building purposes); also
open-hearth furnaces, a blooming mill, a rolling mill, a shafting plant
and
Silver
Spring breweries, it is stated, four
Beauport, Proteau
and a tile plant, all of modern equipment and costing over $1,500,000.
The above mortgage is an absolutely first and closed mortgage on the entire
are not coming in.
land and improvements.
company Is earning many times Its interest
National Mining Exploration Co., Boston.—Bonds.— charges. Co pare V.83.The
p. 441.
The stockholders at Kittery, Me., Sept. 21 1908 authorized an
Penn-Mary Coal Co.—Bonds Guaranteed by Pennsylvania
issue of $250,000 first mortgage 10-year 6% bonds dated Steel Co.—As stated recently, Drexel & Co., Philadelphia,
Oct. 1 1908. In a circular letter Pres. Bruce said:
have offered at 101 and interest this company's 5%30-year
The recent developments at the Fumarole mine and the opening up of
a large portion of mineralized ground will call for the erection of a plant gold bonds, issue $2,000,000, dated April 1 1909 and due
within the next few months for the purpose of recovering these values. April 11939, interest A. & 0. Girard Trust Co. of PhiladelThe developments at the Iron Cap within the last 60 days have been phia, trustee; guaranteed, principal, interest and sinking
most satisfactory. For the continuance of the work and the erection of
a plant at the Fumarole the company requires additional funds. For fund requirements, by Pennsylvania Steel Co. of New Jersey.
this purpose the directors have authorized a call for a sneclal meeting ask- E. C. Felton, President of the last-named company, on
ing the authorization of $250,000 10-year 6% convertible coupon bonds.
The Liberty Trust Co. of Boston will act as mortgage trustee. These March 26 1909 wrote:
bonds will be issued in denominations of $500 each. A right will be given
to the holders to convert them into stock at par any time prior to Oct. 1
1910 unless the bonds in whole or in part are called by the company on
any interest day at 105 and Interest, upon 60 days' notice. In case of
a call during the convertible period, the holder of a bond may nevertheless
avail himself of the right to convert up to the date of redemption fixed
by such notice. The capital stock is $1,500,000; 1,500,000 shares, par
value, $1. There are outstanding 796,013 shares, leaving 703,987 shares
available for the conversion of these bonds and for other purposes.
The Penn-Mary Coal Co., whose Issue of $2,000,000 bonds you have
bought, is a corporation organized under the laws of Pennsylvania; all of
its stock Is owned by the Pennsylvania Steel Co. (of New Jersey). The
coal lands acquired are In excess of 16,000 acres, and are situated in Indiana
and Cambria counties. Pa. They are underlain by two workable seams,
the upper or "D" seam containing more than 60.000.000 tons, and the
lower or "B" seam more than 40,000,000 tons, according to the estimate
of experts. The upper or "D" seam Is the only one now being worked,
fully one-third thereof being above water level, and therefore self-draining.
The plant Includes a model miners' village of 221 houses; electric power
National Refining Co., Cleveland, 0.—Acquisition.—The plant
and two coal tipples, one of steel construction throughout. The
following was furnished us under date of Jan. 23:
property has cost us in excess of $2,500,000, all developments having in
view production at minimum cost. It is now shipping at the rate of 70,000
The Canadian 011 Co. has sold its entire property and assets, good-will
&c., to the Canadian 011 Companies, Incorporated under the Companies tons a month, and this will be Increased until the entire requirements of
Act of Ontario, with capital stock of $2,000,000, $400,000 of which is pre- our steel companies are met.
The bonds are secured by a first mortgage on the whole property. Payferred 8% cumulative and $1,600,000 common stock, the National Relining
ments of principal and interest and the contributions to the sinking fund
Co. of Cleveland, 0., taking the controlling interest in the company. The are
guaranteed by this company. As additional security the Pennsylvania
new company will have a bond issue of $600,000, payable In 25 years.
the
The Canadian 011 Companies will own properties valued at about $600,000. and Maryland steel companies have contracted to purchase each year the
consisting of refineries and tank stations, quick assets, accounts receivable, output of the coal company at a price which will yield sufficient profits toThe
requirements.
fund
sinking
and
interest
Its
meet
coal
to
company
merchandise and cash, in round figures amounting to about $900,000.
profits
balance being represented by the good-will. [The National Refining Co. price fixed by this contract is now yielding the coal company yearly
has works at Cleveland, Findlay and Marietta. 0., and associated with it of about $70,000 in excess of these requirements. These profits will
are the Northern 011 Co., crude oil producers; the National Pipe Line increase as the output of the mines Is increased. Compare report of PennCo., transporters of oil, and the Peerless Transit Line, carriers of oil. The sylvania Steel Co. under "Annual Reports."
[We are Informed that the bonds of the Penn-Mary Coal Co. "are subject
Canadian 011 Co., it is said, was Incorporated about four years ago with
$2,000,000 of authorized stock and a $900,000 bond issue, since largely to redemption at any April interest-paying date on or after April 1 1910.
reduced; works at Petrolia, Ont., office at Toronto; dividends (7%) were at a price not exceeding 101% of the par value and interest, out of the
suspended early in 1908.—Ed.I—V. 83, p. 278; V. 82, p. 1500; V. 80, P. moneys in the sinking fund,and that they are likewise subject to redemption
at any semi-annual interest period on and after the above date at a price not
716; V. 73, p. 960.
and Interest, out of the moneys other than in the sinking
exceeding 102
Needles (Cal.) Light & Power Co.—Bonds.--This Cali- fund, the sinking fund requirements amounting to $67,333 33 yearly.']
fornia corporation has made a mortgage to the Southern —V.88, p. 1134; V. 82, p. 1104.
Trust Co. of Los Angeles, as trustee to secure an issue of
People's Gas & Electric Co., Defiance, O.—Foreclosure.—
$40,000 7% bonds dated Feb.6 1909, interest semi-annual. The Common Pleas Court on Feb. 6 in the suit brought by
Capital stock $50,000. Pres., W. B. Palmer, Los Angeles. the Guardian Trust & Savings Bank of Cleveland, mortgage
Company supplies 18 arc and 2,500 incandescent lights. Pres., W. II. trustees, ordered the foreclosure sale of the property, the
Palmer,416 E. ad St., Los Angeles, owns the entire $50,000 capital stock.
date of sale not being fixed. Compare V. 86, p. 984; V.
New Jersey Consolidated Water & Light Co., Deal, N.J.— 77, p. 953.
Sold.—This company's property was sold at auction June 23
People's Gas & Electric Light Co. of Xenia, Ohio.—Foreby John S. Applegate of Red Bank, N. J., acting as special closure.—Judge
Thompson in the Federal Court at Cincinmaster in Chancery in a suit brought by John Shepherd, and nati on July 15 confirmed the report of Special Master Carwas bid in for $150,000 by George E. Bailey of Jersey City,
roll, finding the amount of outstanding bonds to be $166,000,
N. J., who, it is said, represented leading shareholders.
due, with interest, $195,119.
inThe New Jersey Water & Light Co. has just been Incorporated under the and the amount
been In default since Sept. 1906. Farce mura slie is ordered
laws of New Jersey with $125,000 capital stock, the incorporators Including
Samuel Ludlow Jr., Edgar S. H111 and Conover English, presumably to
take over the property.—V. 85, p. 408.
Interest has
to take place at Xenia after four weeks' advertising.
—V. 88, p. 1257.
New York & Albany Transportation Co.—Successor.—See
Manhattan Navigation Co. above.—V. 89, p. 229.
Niagara Falls Hydraulic Power & Mfg. Co.—Sale.--See
•
Cliff Electrical Distributing Co. above.—V. 86, p. 589.
Northern Central Coal Co.—Successor Company.—See
Randolph-Macon Coal Co.
Pacific Light & Power Co., Los Angeles.—Acquisition.—
See Domestic Gas Co., V. 87, p. 1666; also illustrated article
in "Electrical World" of New York for Sept. 12 1908.-V. 86, p. 671.
Pacific Wharf & Storage Co., Los Angeles, Cal.—Bonds,
&c.—This company offered in April last, at90 and interest,
with a bonus of 50% in stock, $200,000 of its first mortgage
sinking fund 6% gold bonds, dated Jan. 2 1909, due Jan. 2
1929, but subject to call at 110 and interest. Interest
payable J. & J. at Merchants' Bank & Trust Co., trustee,
Los Angeles, or United States Mortgage & Trust Co., New
York. Denomination $1,000 (c). A circular says:
Peters Shoe Co., St. Louis.—New Directors—Stock.—On
March 1 the number of directors was increased from seven
to eleven by the election as directors of James W. Jump,
Chas. H. Peters H. M. Zimmerman and F. L. Osborne.
' the shareholders authorized an increase
In December last
in the capital stock from $1,750,000 to $2,000,000, to provide for additions to plant, &c.—V. 85, p. 1579.
Pierce Arrow Motor Car Co., Buffalo.—Incorporation—
Bond Issue.—This company was incorporated under the
laws of New York State on Jan. 20 1909 with $1,500,000
capital stock, in $100 shares, and having taken over the
long-established business of the George N. Pierce Co.,
manufacturers of the highest class of motor cars, filed on
Feb. 5 a mortgage to the Commonwealth Trust Co. of
Buffalo as trustee to secure an issue of $1,250,000 bonds.
There is no change in the management, the directors (and
officers) remaining as before, viz.:
Incorporated Feb. 24 1906 under the laws of California. Capital stock,
$1,000,000, In shares of par value of $100. Bonds authorized, $500,000;
bonds sold, $170,000; held in treasury, $130,000; present offering, $200,000.
The property lies on the east side of the Inner Harbor of San Pedro, opposite
to and within 1,000 feet of the slip (the largest on the Pacific Coast). which
Upset price, $20,000.
President, George H. Birge; Vice-Pres., Henry May; Treasurer, Charles
Clifton; Secretary, Laurence H. Gardner; and Attorney, William B. Hoyt
The extension of the company's plant, It is stated, will Include (a) 10.500
ft. of floor space added to Machinery Hall, making the total 92.705 sq. ft.
space of
(6) To body-bullding floor space 24,000 sq. ft., making total floorspace
to
building department 161,040 ft.; Increasing total of all floor
395,880 sq. ft.
476
THE CHRONICLE
Portsmouth Berkley & Suffolk Water Co.; Virginia.Bonds-Further Particulars.-The bonds recently offered
(V. 87, p. 420) were part of an issue of $2,500,000 dated
Nov. 1 1904 and due Nov. 11944, authoritatively described
in 1906 as follows:
Denomination $500 and $1,000. Interest payable May 1 and Nov. 1
at Trust Company of America, trustee, New York City. Principal and
interest guaranteed by the American Water Works & Guarantee Co. of
Pittsburgh, Pa., which In Nov. 1904 purchased the entire capital stock
($500,000). Bonds outstanding (in 1906) $1,149,500 (now $1,177,000).
Under the provisions of the trust deed the $1,350,500 bonds held for
betterments cannot be issued until such betterments have been made
and sworn statements have been filed with the trustee, showing actual
cost of improvement made,and that the income of the company In excess
of all operating expenses equals at least 5% on all outstanding bonds.
Including those to be issued for improvements.
Annual revenue (1906), $149.333; interest and operating charges,
5118,273; net revenue, $31,060.
Description of Plant.-(1906): service to consumers, 5,776; city hydrants,
295; miles of pipe, 52.65; daily pumping capacity(in gaions): Suffolk,
9,000 000; Portsmouth, 0,000,000; Berkely, 2,000,000; total. 20,000,000.
System of works-Standpipe and direct pressure. Water supply-Lake
Kul, y and driven wells. Ca city of receiving reservoirs and stand pipe
at Portsmouth, 1,250.000 gallons.
The company, a consolidation, March 1 1902 of the Portsmouth &
Suffolk Water Co., Berkley, South Norfolk Water & Electric Light Co.
and the Nansemond Water Co.. owns and controls the entire water supply
available for the cities of Portsmouth, Berkley and Suffolk, Va., se ving
a population of over 50,000. The water supply, of superior quality,
Is obtained from Lake Kilby, 21 miles distant from Portsmouth, and
adjoining Suffolk. The supply controlled in connection with the Cahoon
water-shed, 3 miles beyond Lake Kilby, is sufficient for a population
of 150,000. Berkley was originally supplied from 321 driven wells surrounding Its pump station; this supply being insufficient, has been supplemented by water from the Portsmouth station by means of
14-inch
main under the river. A new alter plant just completed at Suffolk will
in future deliver all water to the Portsmouth reservoirs, and to the city
of Suffolk, thoroughly filtered.-V.87, D. 420.
Ralston Steel Car Co., Columbus, 0.-Mortgage.--The
company has filed a mortgage to the Colutnbus Savings &
Trust Co. to secure an issue of $500,000 bonds of $500 each.
Of the bonds, a part will be used to retire about $240,000 bonds issued
by Rang Engineering Co., all or most of which,It is stated, have been turned
in for exchange. The proceeds from thesale of theremainderof the bonds,
which, it is reported, have been sold in London through a New York banking house, will be used for extensions, betterments and working capital.
The "Ohio State Journal" says that the plant has been greatly improved
and enlarged in the past year,,and that the recent settlement of patent
suits in its favor places it In a strong position, especially as regards the
manufacturd of patent drop bottom cars used on many railroads.-V. 88,
p. 1065.
Randolph-Macon Coal Co.-Company Reorganized.-The
bondholders' committee, Frederick H. Ecker, Chairman,
announces that a statement of the accounts of the committee has been filed with the Central Trust Co. The
functions of the committee are practically ended, and, so
far as can be seen, there will be no further circular or plan.
A new company,named the Northern Central Coal Co. of New
Haven, was incorporated on Aug. 11 1908 under the laws of
Connecticut, with $1,200,000 of • authorized capital stock,
and has acquired the properties.-V.86, p. 1474.
[VOL. txxxix
The United Gas Improvement Co has no bonded debt, and this issue of
the Savannah Gas Co. is the only one which it has guaranteed as to both
principal and interest. with one other very small exception. The bonds
are therefore prior to $45,900,250 United Gas Improvement stock paying
8% dividends.
The Savannah Gas Co. Is a valuable and growing property, showing
earnings of about double the interest charges on the above bonds.-V.87.
p. 229
Shannon Copper Co.-Called Bonds.-Sixty-one ($61,000)
first mortgage 7s drawn by lot will be paid at par and interest Sept. 1 at Boston Safe Deposit & Trust Co.-V.88,p.1626.
Sheffield Land & Improvement Co., Lorain, 0.-Reincorporated-Bond Issue.-This Ohio corporation, reincorporated under Ohio laws March 18 1909 with $1,000,000 capital stock in $100 shares, all common aid all
outstanding, has made a collateral trust deed to the Cleveland Trust Co. as trustee to secure $1,000,000 6% gold
bonds of $1,000 each.
The bonds are dated March 1 1909 and are due in 20 years, but subjecs
to call each year by lot at 105 in amounts equal to 80% of recovery from
cal estate sales, but not less than $50,000 per year. They are secured by
deposit with trustee of 9.995 shares of capital stock, giving trustee 60%
representation on board of directors. Total assets Jan. 1 1909, $2,825,680;
direct liabilities, $799,458. The proceeds of the bonds now offered at 90
will retire all liabilities and provide working capital. In Dec. 1904 the.
stock was increased from $500,000 to $850,000. Pres., Tom L. Johnson,
Cleveland; Vice-Pros., H. D. Baker; Sec. and Treas., Chas. F. Laughlin,
Lorain. Ohio.
Sierra Madre Land & Lumber Co.-Sold.-At foreclosure
sale in Chihuahua on Aug. 12 the property was bid in for
$2,000,000 by the Pearson syndicate for account of the
Mexico Northwestern Ry. Co., per plan in V. 88, p. 749.V. 88, p. 1065; V. 89, p. 167.
Spring River Power Co., Missouri.-New Control.-See
Empire District Electric Co. above.-V. 87, p. 100.
(A. E.) Staley Mfg. Co. (Starch, &c.), Baltimore, Md.Bonds Offered.-This company is offering at par and interest,
including for a limited period a bonus of 20% in common
stock (such stock to be exchangeable, share for share, for
preferred stock during 1912), an issue of $300,000 6% first
mortgage sinking fund 20-year gold coupon bonds. These
bonds are dated June 1 1909 and due June 1 1929, but
redeemable, all or part, at company's option, at 110 and
interest on any interest day after June 1 1919 on 60 days'
notice. Interest payable semi-annually at International
Trust Co. of Maryland, Baltimore. Trustee, American Trust
& Savings Bank, Chicago, Ill. Sinking fund of $15,000
annually, beginning Dec. 1 1910. Denominations $500
and $1,000.
A pamphlet says in brief:
A. E. Staley founded the business in 1897 in Baltimore, engaging In the
starch business and making "cream corn starch," one of the best selling
brands, of food starch in the world. Mr. Staley decided In 1906 to manufacture his own raw starch and to manufacture and sell all kinds and
grades of starches. Therefore, the A. B. Staley Manufacturing Co.
was incorporated under the laws of Delaware and took over all the
Called.
Distilling
-Bonds
Co.
Republic
-Eighteen ($18,- Interests
of Mr. Staley, paying therefor exclusively in stock. Mr. Staley's
gold
bonds
fund
sinking
000) first mortgage 7%
have been entire fortune is invested in the stock, and ten-elevenths of his
holdings
common
stock.
arc
accrued
interest on Sept. 1
drawn for payment at par and
The business of the company has steadily increased, and in 1908, notwithYork,
New
Co.
of
Trust
Equitable
mortgage trustee. standing the severe panic, It was 36% larger than in 1907, and the volume
at the
thus far in 1909 Is showing large increases over preceding years
-V. 83, p. 327.
Dividends on preferred stock have been paid regularly at each dividend
since the incorporation of the company in 1906.
Republic Iron & Steel Co.-Report.-The results for the period
On June 1 1909 a large, and exceedingly valuable plant, located at
were:
30
June
year ending
Decatur, Ill., was purchased by the company at a price far less than its
actual cost and present value. A mortgage was placed upon the property
Dividends on Bal., stir.
Deprec'n
Gross
Fiscal
Accutn'ed and plant at
Decatur, Iii., and upon the plant located at Baltimore, Md.,
pref. stock,
for year.
profits. & charges.
Yearsurplus.
(2) $408,338 $1,221,008 $5,920,535 for $300,000 securing the bond issue now offered, in order to provide
1908-09 ____$3,656,801 $2,027,455
899,533 4,699,527 ($150,000) working capitaland to enlarge, Improve and make the plant at
1907-08 ____ 4,046,690 2,075,270 (53)1,071,887
(7)1,429,183 2,300,062 5,433,346 Decatur, Ill., one of the most modern and up-to-date starch manufacturing
1906-07 ____ 6,127,742 2,398,497
(7)1,429,183 1,309,378 5,319,703 plants in this country, with a capacity to grind and convert into various
1905-06 ____ 4,750,476 2,011,915
1904-05 ____ 2,508,068 1.134,461
1,373,607 4,010,330 grades and kinds of starch from 5,000 to 7,000 bushels of corn daily.
The Decatur plant was constructed (in 1903) by the Pratt Cereal Oh Co.
-V. 89, p. 290, 230.
at a cost of about $600,000 (the buildings for $163,000) and was subseRiverside Cotton Mills, Danville, Va.-Consolidation.- quently sold to a starch-manufacturing company, which transformed it
a starch factory. This company installed between $150,000 and
The stockholders of the Riverside Cotton Mills and of the into
$200,000 worth of new machinery, but on account of the 1907 panic went
hands. The plant was sold to satisfy claims of indebtedness
Dan River Power & Manufacturing Co. on Aug. 13 voted to Into receiver's
was purchased by the A. E. Staley Mfg. Co. The buildings cover
consolidate the two companies into one corporation, with and
between three and four acres of a plot of six acres, and an option has been
acres for future enlargements. After the plant
$7,000,000 authorized stock (which may be increased later acquired on an adjoining 16 operation,
it is proposed to build a plant in conhas been placed in working
to $10,000,000), of which $4,500,000 will be 6% preferred. nection
therewith for the manufacture of glucose and table syrups.
The greatest profit is obtained from cream corn starch and high-grade
The new company will be called the Riverside & Dan River
package laundry starch; therefore the company will make every effort to
Cotton Mills, a charter for which is being applied for in Vir- Increase
the sale of these products. With a daily output of 160,000 lbs.
ginia.
(mill pearl and powdered starch, 32,000 lbs. @ $2 35 per 100 lbs.; domestic
lump
in bulk, 64,000 lbs. @ 3 gc.; domestic lump starch, In packstarch,
The two mills are controlled by the same interests, R. A. Schoolfield being
32,000 lbs. @ 3 Uc, per lb.: thin boiling steam laundry starch, 8,000
the President and H. R. Fitzgerald the Secretary and Treasurer of both ages,
'tie.
per lb.; cream corn starch and high-grade package laundry
lbs.
®
3
had
Company
$2,000,000
capital stock and the
concerns. The Riverside
starch, 24,000 lbs. ® ;ie.: also gluten, feed, &c.), the total annual sales
Dan River Company 53.000,000. The stockholders of the Riverside Com- (300
working days) are estimated at 52,227,176, and the net profit per
pany will, it Is reported, receive $175 in new stock per $100 share. The year at
$342,921, which can be applied to surplus fund and dividends.
combined mills had at last accounts 169,558 spindles and 5,674 looms.
Capital Stock (in $100 Shares).
AuthoriTed.
Outstanding. Rot Outstand'g
Riverside & Dan River Cotton Mills, Danville, Va.--See
$128,100
Preferred 7% cumulative_ __ $1,800,000
$1,671,900
Riverside Cotton Mills above.
2,000,000
1,027,800
Common
972,200
June
30 1909.
Financial Statement
St. Lawrence Power Co., Ltd., Montreal.-Debentures
AssetsCalled.-On Aug. 1 1909 interest ceased on nine first mort- Real estate, buildings, Decatur,Ill------------------ _ ________
- $150,000
estate, land, sewers, waterlines, water system, lire protecgage 6% debentures due Feb. 1 1935, viz.: Nos. 57, 152, Real
tion, railroad sidings, artesian wells, &c
52,000
226, 347, 355, 396, 428, 469 and 572, which had been called Fixtures, machinery, &c., Decatur, Ill
350,000'
construction work
9,723
for payment at the office of the Royal Trust Co. of Montreal
&c., Baltimore, Md
12,451
at $525 per debenture and accrued interest. George G. Merchandise inventory, Baltimore, Md
54,963
Cash ($7,477) and accounts receivable (current), good ($26,832)
Foster of Montreal is President.
34,309
Total assets ---------------------------------------------$663,446
Savannah (Ga.) Gas Co.-Bonds.---Robert Glendinning
LiabilitiesSr Co., Philadelphia, some months since offered at 101 , Bills payable, due banks ($62,000), and accounts payable ($3,028) $65,028
and interest $50,000 first mortgage sinking fund 5% gold
Net worth June 30 1909-----------------------------------5598,418
bonds, dated March 1 1904 and due Sept. 1 1923, but re(B. F.) Sturtevant Co., Boston.-New Stock, &c.-This
deemable at 105 and interest. Compare V. 78, p. 1278,
Massachusetts corporation, which claims to be the largest
1227. A circular says:
manufacturer of mechanical drafe fans and blowers, its
Guarantee Endorsed on Each Bond.-"For value received, the United Gas
Improvement Co. herewith guarantees the payment of the principalof the general office and works being at Hyde Park, Mass., has
withitybond of the Savannah Gas Co., dated March 1 1904, and the interest recently increased its capital stock from $500,000
to $2,thereon, according to the tenor and effect thereon. In witness whereof
the United Gas Improvement Co. has caused these presents to be executed 500,600, all outstanding, of which $1,250,000 is 6% cumulaby its President or Vice-President, and Its corporate seal to be hereunto tive preferred, subject to call at 105 on and after Jan. 1 1910.
affixed, duly attested by its Secretary or Assistant Secretary, this first day
of March 1904." (Signed, "Tile United Gas Improvement Co., by Samuel Par of shares $100. Bonded debt, if any, not 'Imbed. An
V Bodine Vice-President Attest: James Ball, Assistant Secretary.")
exchange says:
AUG. 21 1909.1
THE CHRONICLE
The stock has all been taken by a few of the large owners. John Carr,
Chairman of the board of directors of the First National Bank of Boston,
is President; Eugene N. Foss Is Treasurer and B. B. Freeman has been
elected General Manager. The increased capitalization represents capital
expenditures during the past year, largely in the erection of a new plant in
Hyde Park which cost over $1,500,000. The B. F. Sturtevant Co. claims
to be doing a business of about $3,000.000 a year and the volume is constantly increasing, thus making necessary the increased capitalization.
Susquehanna Iron Co., Philadelphia.-Exchange of Bonds.
-This company,having made a mortgage to secure an issue
of $300,000 6% bonds, recently, it is stated, offered to the
holders of the 6% bonds of the old Susquehanna Iron &
Steel Co. (original issue $300,000) the privilege of exchanging
their holdings for 5-year bonds of the new issue. Compare
V. 88, p. 629.
(T. H.) Symington Co., Baltimore, Md.-Stock Offered.This company, designer and manufacturer of standard railway material, and now operating three plants in New York
State, is erecting at Rochester, N. Y., a modern malleable
iron plant covering over 5 acres of ground. To build this
plant and add $100,000 to working capital, there was recently offered for sale $300,000 first mortgage 6% bonds and
$300,000 7% cumulative preferred stock. The bond issue
was bought at par, without bonus,by New York and Pennsylvania financial interests, and $200,000 of the $300,000 of
preferred stock was sold at par with 20% bonus of common
stock-almost all of it outside of Baltimore. The remaining
$100,000 of 7% ouxnulative preferred stock was offered at
par in Baltimore in April last, with the same bonus. President T. H. Symington said:
Authorized. Outst'd'g. Treasury.
Capitalization$300,000 $300,000
First mortgage 6% bonds
1,000,000
625,000 $375,000
7% cumulative preferred stock
963,000
37,000
1,000,000
Common stock
Full 7% dividends have been paid on the preferred stock to date.
Audited Results of First Five Years' Operation.
Cash invested
$218,1001Deprecia'n & development_ $95,820
•403,307
Cash dividends paid
96,508 I Surplus accumulated
* Against this surplus has been charged $139,800 par value of preferred
stock, the cost of getting free from contracts with parties manufacturing
for the company before it owned and operated its own plants.
Westinghouse, Church & Kerr estimate our earnings on journal boxes
alone the first year after completion of the Rochester plant, in September
1909, at $308,000. Our own estimate, based on our past experience, is
$500,000. Compare V. 88, p. 382.
Textile Mills Corporation, New Orleans.-Bonds Called.Forty bonds issued by the Lane Mills under mortgage of
1904 have been drawn for payment at par and interest on
Sept. 1 at the Commercial-Germania Trust & Savings Bank,
New Orleans.-V. 87, p. 1667.
Uncle Sam Oil Co.-Stock Increase.-This Arizona corporation on April 5 1909 filed a certificate increasing its
authorized capital stock to $61,000,000 (61,000,000 shares
of $1 each), of which $1,000,000 (1,000,000 shares) was to be
preferred with 31 votes for each share, "which votes shall
be held in trust for the benefit of the owners of the treasury
stock," and shall be cast as directed by the votes of a majority of the "treasury stock;" and the remaining $60,000,000
was to be designated as "treasury stock" and be entitled to
a one-half vote for each share. 'In the distribution of dividends the preferred and treasury stock shall each receive
the same amount of the net profits per share." James A.
Fleming was then President and H. H. Tucker Jr. was Secretary; the latter and J. H. Ritchie were named as the incorporators. Compare V. 85, p. 415; V. 84, p. 1186.
Union Lumber Co., San Francisco.-Bond Offering.-The
Detroit (Mich.) Trust Co. recently offered at par and int. a
proposed issue of $800,000 first mortgage 6% gold bonds,
to be dated Jan. 1 1909, payable in eight annual installments
of $100,000 each,on Jan. 1 from 1911 to 1918, both inclusive,
but subject to call at 103 and interest on Jan. 1 1910 or any
interest day thereafter, in blocks of not less than $50,000.
Total authorized issue $1,000,000. Denomination $500
and $1,000 (c*). Both interest (Jan. 1 and July 1) and principal payable at the office of the Detroit Trust Co., trustee.
A circular says:
The company is organized under the laws of California and owns large
tracts of redwood timber lands in that State, with mills, &c.,for the manufacture of lumber. This issue of $800,000 bonds will be secured by a first
mortgage on that part of the property consisting of approximately 40,000
acres of virgin redwood, fir and tan bark situated in Mendocino County,
Cal.: also on all saw mills, planing mills, water works, mill sites, lumber
yards, &c., located on said lands at Fort Bragg, Cal. A careful examination of the timber has been made, under the supervision of George L. and
John A. McPherson of Portland, Ore., and their estimates on 30,000 acres
are as follows: Redwood: 1,801,240.000 ft.; fir, 305,907,000 ft.; tan bark.
12,038,000 ft.; total, 2,119,185,000 ft.; or on the 40,000 acres to be covered
by this mortgage, about 2,500,000,000 feet. The $800,000 bonds would
therefore be at the low rate of 32 cents per 1.000 feet. Our appraisal at
$2,00 per 1,000 feet is $5,000,000, or six times the bond issue, without
considering the value of the saw-mills, &c.
After Jan. 1 1911 the company may cut from the mortgaged lands
50,000,000 feet of timber, log measure, yearly; on any additional amounts
it shall pay the trustee $1 per 1,000 feet, log measure. The company may
also dispose of lands from which all timber shall have been removed, upon
payment to the trustee of $5 per acre. The money so paid the trustee
shall be placed in the sinking fund for the redemption of bonds of this issue.
The company will have the right to issue under certain conditions, on or
before Dec. 31 1909, an additional $200,000 bonds, provided the company
conveys to the trustee other timber lands averaging per acre at least 60,000
feet, log measure, said bonds not to exceed $20 for each acre so added. If
such additional bonds are issued, the company will have the right to
Increase proportionately their cutting privileges as above noted.
Directors-C. 11. Johnson, President; W. P. Plummer, Vice-President;
C. L. White, Secretary; T. L. Johnson, Treasurer. and C. E. Wilson,
United Dry Goods Companies.-First Dividend on Pre4% has been deferred.-An initial quarterly dividend of 13
clared on the preferred stock, payable Sept. 1 to holders of
record Aug: 25.-V. 88, p. 1442.
United Gas & Electric Co., Bloomsburg, Pa.-Amalgamation.-See Columbia Power Light & Railways in V. 89, p.
410.-V 84, p 275.
477
United States Cast Iron Pipe & Foundry Co.-Quarterly
Dividend.-The directors on Aug. 17 declared a regular
quarterly dividend of 134% on the preferred stock, payable
Sept. 1 on stock of record Aug. 2.
Previous Dividend Record (Per Cent)•
1899 1900 '01 '02-'03 '04 '05 '06 '07 '08 1909
On preferred _
7 3 ji July,1
0 4 yearly 4;i 8
7
134 3
On common
0
0
0
1
4
4 0
0
0
Note.-In 1908, March and June, 1 4% each; a dividend of 1 4% was
declared payable Sept. 1 1908 out of "reserve for additional working capital," but was not paid until July 2 1909, the suit to enjoin the payment
being dismissed in June 1909 by the higher court. See V. 88, p. 1626.
United States Glass Co., Pittsburgh, Pa.-Report for
Year ending June 30 1909.-President Ripley is quoted as
saying in substance:
The sales increased 11%, while collections show a loss of only 3-10 of 1%
for bad debts. While the net manufacturing gain Is not entirely satisfactory, the company is to be congratulated that the capital has not been
impaired. Business conditions over which we have no control have brought
about the keenest competition we have ever been called upon to meet.
[This refers to the drastic cuts made in prices.-Ed.1
New Directors.-John B. Barbour Jr. and Charles J. Kappier have been elected directors.-V.87, p. 540, 551.
United Wireless Telegraph Co.-Different Stocks Command
Different Prices.-A firm that deals in the company's shares
wrote under date of July 14:
The different stocks, signed by the different officers of the oompany,
command different prices, ranging from $2 50 on the unstamped, signed
Butler & Knabe, up to $20 to $21 on the same stock, unstamped, signed
by Wilson & Bogart, as follows: (a) Signed by Wilson & Bogart, and by
Wilson &Knabe, prices range from $2 50 to $7 per share, according to denomination of certificates and dates; (b) if signed by Wilsou, Vice-President,
and Bogart, Treasurer, immediate transfer not guaranteed, the prices
range from $6 to $10 50; (c) if signed by Wilson, President, and Bogart,
Treasurer, a little better price can be had;(d) if signed by Wilson, President,
and Bogart. Treasurer, with immediate transfer guaranteed, prices from
$14 to $21 can be obtained, according to denominations of certificates.
On English Marconi, both pref. and common, there is a difference of
from 50 cents to $1 per share between immediate delivery and delayed
delivery.-V. 88, p. 1060.
Western Gas &Investment Co.-Foreclosure.-See People's
Gas & Electric Light Co. of Xenia, 0., above.-V.84, p. 756.
Whitman Mills, New Bedford.-Stock Diridend.-This
company, referred to last week, recently increased its capital
stock from $1,500,000 to $2,000,000, as authorized by the
shareholders on June 15, in order to declare a stock dividend
of 33 1-3%. On June 1 Charles L. Harding was elected
President, to succeed William Whitman, who resigned.
-V. 89, p. 415.
Winfield (Kan.) Gas 0o.-Sold.-At auction on June 24
the property was bid in for $75,045 by one Neely, said to
represent important interests. W. Clyde Hacknoy has
been receiver for some time past. Annual output about
9,000,000 cubic feet.
Winona Copper Co.-Assessment.-An assessment of $1
per share has been called on the $2,500,000 stock (par $25),
payable Sept. 14. This will make the stock, it is understood,
$18 per share paid in.
Wisconsin Telephone Co.-Favorable Decision.-AttorneyGeneral Gilbert on Feb. 3 refused the application of certain
independent telephone companies that he commence suit
for the forfeiture of the charter of the company on the
ground that it is a trust and operates in restraint of telephone
business of the State.
It is held that possibly the word "commodity" as used in the anti-trust
statutes applies to telephone service, but on the other hand (1) the regulation of rates is placed in the hands of the Railroad Commission and (2)
the public utility law does not require that a telephone company secure
the certificate of necessity which other public service corporations are obliged to obtain, and therefore competition is open to all.
Acquisitions.-The company has acquired the Northwestern Telephone Co. and the Douglas County Telephone
Co., the cost of the two properties being stated as about
$200,000.-V. 86, p. 1535.
Woolson Spice Co.-Sale.-Hermann Sielcken of the
coffee-importing firm of Crossman & Sielcken of this city
recently purchased from the estate of the late H. O.
Havemeyer the controlling interest in the company,acquired
in 1896, including, it is reported, all except about 60 shares
of the outstanding $180,000 stock. Compare 'Y. 63,
1157;
V. 64, p. 40; V. 70, p. 688.
An official of the American Sugar Refining Co. Is quoted as saying that
while the letter has retired definitely from the coffee business the American
Coffee Co., which owns another plant in Brooklyn long out of operation,
will not be dissolved.
-Megargel & Co., 5 Nassau St., are offering at par and
interest the unsold portion (about $150,000) of the present
issue of $1,000,000 Kanawha & West Virginia RR,: first
mortgage 50-year 5% gold bonds, due Jan. 1 1955, guaranteed, both as to principal and interest, by endorsement
on each bond, by the Blue Creek Coal & Land Co. of W. Va.
-The Corporation Trust Co., with offices in New York,
Chicago, Boston, Philadelphia, St. Louis, Portland, Jersey.
City, Camden and Wilmington, has issued a pamphlet containing the full text of the new Federal Corporation Tax Law.
Copies of this law may be obtained without expense at any
office of the company.
-Alex. Brown & Sons, bankers, Baltimore, Md., have
published for the use of their clients and security holders of
The United Railways & Electric Co. of Baltimore, an
unusually complete "history and description of the property
and its securities."
-Alfred L. Baker & Co., stocks, bonds and grain, 209
La Salle St., Chicago, have issued a circular entitled "The
Value of Canadian Pacific Common Stock."
478
THE CHRONICLE
The Trimutercial 'AI:intes.
COMMERCIAL EPITOME.
Friday Night, Aug. 20 1909.
Though trade continues to improve, it is quite as obvious
country
clings to a policy of conservatism. While
that the
it is inclined to be optimistic and confidence is widespread,
haste
making
slowly, rather than striking a gait which
it is
it possibly could not hold. The indications in the iron and
and
trade
steel
other branches of industry, however, are
cheering, and with improved prospects for the crops the genconditions
are
eral
believed to be of hopeful augury.
LARD.-Business has been checked by a sharp advance
prices,
due
to
the
in
scarcity of hogs and the strength in corn.
Prime Western 12.50c., Middle West 12.20c., prime City
steam 11%c., refined Continent 12.65c., South America
13c., Brazil, in kegs, 14c. Speculative prices also advanced
under covering by shorts, buying by packers and investors
and a better cash demand.
DAILY CLOSING PRICES
Sat.
September delivery_ __ _11.45
October delivery
11.40
10.15
January delivery
OF LARD FUTURES IN CHICAGO.
Mon.
Tues.
Wed. Thurs.
Fri.
11.55
11.70
11.85
11.97
11.92%
11.50
11.65
11.80
11.90
11.873
10.2734 10.20
10.25
10.25
10.20
[VOL. Lxxxix.
COTTON.
Friday Night, August 20 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
14,396 bales, against 11,051 bales last week and 7,804
bales the previous week, making the total receipts since
Sept. 1 1908 9,821,828 bales, against 8,310,287 bales
for the same period of 1907-08, showing an increase since
Sept. 1 1908 of 1,511,541 bales.
Receipts at-
Sat.
Galveston
Port Arthur_ __ _
Corp. Christi,&c.
New Orleans_
Gulfport
Mobile
Pensacola
Jacksonville, &c.
Savannah
Brunswick
Charleston
Georgetown _ _
Wilmington _ _
Norfolk
Newport N., &c_
New York
Boston
Baltimore_
Philadelphia_ _ _ _
743
Mon.
Tues.
Wed.
Thurs.
Fri.
Total.
243
475
1,063
392
2,535
1,337
452
1-,8i&
-TO
357
3,438
27
246
636
571
600
103
2,273
280
43
io
03
141
201
1,028
11
3
2
16
260
7
13
479
48
50
886
6,313
475
-
149
13
37
_
2
---..274
274
PORK.-Light supplies caused firmness and restricted
50
business; mess $21 75@$22 25, family $21 ig$22, clear Totals this week_ 2,085 1,238,
2,398 2,814
3,3461 2,515 14,396
$21 @$23 50. Beef, steady, with moderate trade; family
$14©$14 50, packet $12@$12 50, mess $11@$11 50, extra
The following shows the week's total receipts, the total
India mess $22 50@$21. Pickled hams in fair supply, but
since Sept. 1 1908, and the stocks to-night, compared with
dull; regular, 12 to 20 lbs. 123/
2®13c.; pickled bellies slow, last
year:
clear, 8 to 12 lbs., 123/
2@13c. Tallow slow; city 5 9-16c.
Stearines quiet and unchanged; oleo 113c., lard 123/
1908-09.
2©13c.
1907-08.
Stock.
Receipts to
Butter strong, with good demand; creamery extras 28@
Aug. 20.
This Since Sep This Since Sep
283c. Cheese strong and fairly active; State, f. c., small
Week. 1 1908. Week. 1 1907.
1908.
1909.
or large, colored or white, 149c. Eggs quiet, with choice
Galveston
6,313 3,618,834 32,654 2,568,813
42,779
12,61
grades in demand. Western firsts 21 /2@23c.
Port Arthur
475 153,234
108,500
OIL.-Linseed quiet and steady; city, raw, American. CorpusChristi,&c. ____ 157,936 ____ 37,825
Orleans_ ___
3,438 2,087,329 2,349 1,994,101
25,810
49,952
seed, 61@62c.; boiled 62©63c., Calcutta, raw, 75c. Cotton- New
Gulfport
20,221
seed steady; winter 5.80(0)5.90c., summer white 5.50©5.90c. Mobile
2,273 392,083 2,471 334,366
10,085
4,885
167,465
166,035
Olive unchanged, $1(01 20. Lard quiet; prime 94c. ex- Pensacola
Jacksonville, ecc_
____
8,543
____
30,868
tra No. 1 55c. Cocoanut quiet but steady; Ceylon 1%@, Savannah
1,028 1,495,805 3,907 1,519,345
10,171
22,919
Brunswick
320,114
211
____ 197,903
73
4c., Cochin 7%@8c., Palm, Lagos, 5%©6c. Peanut, Charleston
16 209,784 1,161 203,022
866
7,057
yellow, 65@70c. Cod quiet and steady; domestic 38c., Georgetown
____
822
2,649
____
Wilmington
500,792
145
409,238
2,086
5
Newfoundland 40c.
Norfolk
479 592,826
4,806
920 547,895
1,555
COFFEE.-Rather more interest has been manifested by NewportNews,&c. ____
8,950
18,175
489
New York
--__
19,151
4,227
____
92,149
70,245
buyers, and as prices are slightly lower,a better business is Boston
50
15,982
19,125
3,254
89
4,220
expected; Rio No. 7, 7%©73
,-c.; Santos No. 4, 8%©83
/0.; Baltimore
274 101,365
81,974
1,599
148
2,480
50
53
9,762
2,204
7,056
fair to good Cucuta, 8%©9Mc. Speculation has been slow, Philadelphia
1,253
-----as news of a stimulating character has been scarce. In the
Total
14,396 9,812,828 44,246 8,310,287 188,151 185,289
face of a record-breaking movement, Brazilian markets
have remained relatively steady, and prices here have also
In order that comparison may be made with other years,
weakened only slightly. Closing prices were as follows:
we give below the totals at leading ports for six seasons:
5..3
5.60 ® 5.65 December _5.20®5.25 April
30
August
5 ® 5:430
5
September _ _5.55 ® 5.40 January _ _ _ _5.20 5.25 May
5.25 ® 5.30 February _5.25@5.30 June
October
November _ _5.20 ® 5.30 March
5.30®5.35 July
5.35g5.40
5.40@5,45
SUGAR.-Raw has advanced and local offerings have
been practically absorbed; centrifugal, 96-degrees test,
4.11c.; muscovado, 89-degrees test, 3.61c.; molasses, 89degrees test, 3.36c. Refined has been quiet but strong;
granulated 4 95c. Spices firm and quiet. There has been
a seasonable revival of activity in teas in all quarters. Wool
has been unprecedentedly active at firm figures.
PETROLEUM.-Demand is satisfactory and a continuation of good business is looked for; refined, barrels, 8.25c.;
bulk, 4.75c.; cases, 10.65c. Gasoline, 86-degrees test, in
100-gallon drums, 18gc.; drums $7 50 extra; naphtha,
73 to 76 degrees test, in 100-gallon drums, 16Yic.; drums
17 50 extra.
TOBACCO.-There are many who express disappointment
at the amount of business transacted by the visiting buyers
from the West,some of whom still remain. It is quite generally agreed that most of them purchased on a much smaller
scale than they usually do on their August visits. As a
result, the market is still described as slow, although it is
true that there has been a considerable increase in the
volume of business contrasted with preceding weeks. There
have been no new developments as far as Havana and
Sumatra tobaccos are concerned, but many are inclined to
look for greater firmness in old domestic tobacco because of
the disappointing yield in many fields, it being claimed
that many acres will produce barely 800 lbs., as compared
with fully 2,000 in 1908. This is attributed to the long
period of dry weather, the effects of which were only partly
neutralized by recent rains. It is generally conceded that
these were well distributed and were especially beneficial in
Connecticut and Pennsylvania, but it seems that they came
too late to make a complete recovery of the plant possible.
COPPER.-Prices are a trifle lower, but there has been
fair activity; lake 133'©133
/sc.; electrolytic 12%©13c.;
casting 125
/
s ©129c. Lead has been easier but not very
active; spot-car lots 4.35@ 4.37 Ac. Spelter quiet and
steady; spotre,ar lots 5.65c. In the iron trade little new
business is reported and for the time being it seems as thou,511
prices were at the top. Both buyers and sellers appear disposed to wait and the latter seem disinclined to negotiate
for 1910 business. Still there have been heavy withdrawals
from supplies in the Central West. An active demand is
still in evidence for finished steel goods in spite of the extreme
stiffness of prices.
Receipts at-
1909.
Galveston
_
Pt.Arthur,&c.
-New Orleans_
Mobile
Savannah
Brunswick
Charleston,&c
Wilmington_
Norfolk
N'port N., &c
All others_ __ _
Total this wk_
1906.
6,313
475
3,438
2,273
1,028
32,654
1907.
6,392
2,349
2,471
3,907
1,763
420
872
35,659
25
2,226
331
7.786
16
'1,161
5
920
489
290
--44,246
52
147
558
682
60
2,085
1008.
479
374
--14,396
1,153
47
11,357
48,901
1905.
----23,706
8,472
503
13,114
27
471
307
3,504
398
2,636
19(4.
-20,326
3.715
384
5.334
--
tiio
18
1,024
__
905
53,138
31,976
- ---Since Sept. 1- 9,821,828 8,310,287 9,692,472 7,833,369 10022219 7,169,272
The exports for the week ending this evening reach a total
of 18,865 bales, of which 6,290 were to Great Britain,
1,504 to France and 11,071 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1908:
Exports
from-
Weekending Aug.20 1909.
Exported toGreat
Conti:rUain. Fence. natl. Total.
From Sept. 1 1908 to Aug. 20 1909.
Exported toGreat
Britain.
France.
Continen!.
Total.
Galveston ____ 2,642 _ _
201 2,8421,490,177424,3661,222,1393,136,682
66,257
Port Arthur_
475
475
_ _
86,977 153,234
Corp.Chrls.,&c.38,779 38,779
New Orleans_ 1,024 ::__ 5,379 6,403 929,236260,850 755,2311,948,317
Mobile
93,580122,577
82,335 298,492
Pensacola
46,532 65,956
56,778 169,266
Gulfport
4,132 16,089
20,221
Savannah
171,224 91,227 658,721 921,172
Brunswick
193,604
89,370 282,974
Charleston
Wilmington
Norfolk
Newport News
New York_-__
Boston
Baltimore
Philadelphia
Portland, Me_
San Francisco_
Seattle
Tacoma
Portland, Ore
Pembina
Detroit
Total
Total 1907-08_
_ __
..
___
2,190 1,504
434 ____
--__
_
_ _
_
__
3,022
245
1,750
5,725
77,244 82,969
112,854 8,731 281,624 403,209
32,502
4,133 36,635
6,716 188,304 52,026 213,324 453,654
679 94,837
11,579 106,416
1,750 52,472 7,537 65.333 125,342
55,979
13,552 69,531
796
796
82,528 82,528
68,364
68,364
10,756
10,756
300
300
100
100
4,374
4,374
6,291 1,504 11,071 18,8653,542,585 10493593,819,1678,411,111
3,547 6,381 17,595 27,5232,927,048880,6023,598,8687,406,518
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.
AUG. 21 1909.]
THE CHRONICLE
On Shipboard, Not Cleared forOther CoastGerGreat
Aug. 20 at- Britain. France many. Foreign wise.
New Orleans__
Galveston ____
Savannah ____
Charleston_
Mobile
Norfolk
New York _ _
Other ports_ _ _
1,383
'700
____
1,861
3,500
____
- -- -
5-,(3156
2,072
1,481
--__
---- -
'l
-ioj
1,650
500---_
--------3,953
3,583 11,261
Total 1909_
16,014
5,200
9,036
Total 1908_ _
7,031
3,555 6,014
Total 1907
194
3,323
575
314
____
____
----- ---o3-,iio
____
3,998
2,600
4,675
Total.
Leaving
Stock.
5,800
3,800
1,600
500
41,119
6,049
10,171
866
4,285
1,096
90,549
6,913
4,308 27,103
1,598 35,348
5,379 26,654
161,048
149,941
263,022
----
8,833
6,570
Speculation in cotton for future delivery has been on a
moderate scale at irregular prices. Early in the week there
was some tendency toward a higher level of values, but
toward the close a recession took place, resulting in a small
net loss for the week. This decline occurred despite the
existence of semi-tropical climatic conditions in Texas.
Day after day the maximum of heat there has been from 100
degrees upward. In many cases it has been from 105 to
112. Dallas has reported 114, and some private reports
from the Southwest state that 118 has been reached. What
is clear is that the heat has been remarkable, and under such
circumstances, needless to say the rainfall has been light.
Fortunately minimum temperatures in Texas have ranged
in some cases as low as 75 degrees, a fact which has had some
mitigating effect. In Oklahoma, Arkansas, Mississippi,
Louisiana and Alabama temperatures have also been high.
Some think the heat wave is slowly passing to the eastward;
on Thursday 110 was reached in Mississippi. But, on the
other hand, it is reported that the intense heat has proved
very destructive to the boll-weevil. That this pest thrives
best under conditions of excessive moisture and comparatively low temperatures seems to be a fact very generally
recognized. Moreover, it is contended that the present
relatively high prices are likely to bring out a large quantity
of cotton during the opening months of the crop year, whatever the actual size of the yield. This has happened more
than once in the past when ruling prices were regarded as
tempting. Such a movement would not mean necessarily
that the crop is not short. Very many believe ,that it is.
But it is conceived that a rush of cotton early in the season
to take advantage of prices around 12 cents might easily
cause quite a marked recession in values, at least for the
time being. Then, too, speculation is sluggish. Sharp reminders that the bull campaign was being overdone have not
been lost on the public. Of late the speculation has been
largely what is termed "professional." Even the extraordinary heat in the Southwest has not brought in any considerable number of buying orders. The outside public may
hold aloof for some time to come. Some well-known interests have sold for short account from tune to time. Of
late, however, there has apparently been less concentrated
opposition to a rise, perhaps partly because the short interest has been to a considerable extent covered. Fear of a
large crop movement and also a fear that spinners may not
buy with any great freedom at the opening of the new season have tended to prevent a marked advance, in spite of
the extraordinary heat in the Southwest, bullish crop reports from several sources, and an idea that the next Government statement will indicate a small crop. On the
other hand, efforts to depress prices below 12 cents have
proved futile. The belief of many is that this crop is much
smaller than the last one. Trade in Europe is reported
better, especially in Lancashire. Some predict the largest
consumption of American cotton on record. They also pre'diet that, even if the receipts early in the season should have
a depressing effect on prices, it would prove only temporary.
However this may be, as the case stands most people are
waiting to see how large the early crop movement will be
and what the spinner will do. To-day a decline was brought
about by liquidation by tired longs, based on private reports of rains in Texas. Yet, according to the official reports in the morning, there was little or no improvement in
Southwestern climatic conditions.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Aug. 14 to Aug. 20Sat. Mon. Tues. Wed. Thurs. Fri.
Middling uplands
12.70 12.75 12.80 12.80 12.80 12,65
NEW YORK QUOTATIONS FOR 32 YEARS.
12.05 1001_o
7.31 1885c.
1909_c
8.00 1893.c
10.10 1000
1908
7.19 1884
10.00 1802
13.25 1899
1907
7.94 1883
6.19 1891
10.10 1808
5.88 1890
11.94 1882
1906
10.80 1807
7.88 1889
1905
11.50 1881
10.85 1896
8.44 1888
1904
10.88 1880
12.75 1895
7.56 1887
1003
9.75 1879
6.94 1886
9.00 1894
9.51 1878
1902
MARKET AND SALES AT NEW YORK.
10.31
10.75
10.19
13.06
12.25
11.75
11.75
12.00
•479
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
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THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the United
States, including in it the exports of Friday only.
August 20Stock at Liverpool
Stock at London
Stock at Manchester
'Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
1909.
bales. 879,000
21,000
54,000
1908.
395,000
10,000
48,000
1907.
818,000
19,000
61,000
1906.
432,000
18,000
49,000
954,000
9,000
157,000
171,000
3,000
24,000
18,000
5,000
453,000
24,000
191,000
89,000
4,000
23,000
13,000
18,000
898,000
18,000
157,000
134,000
3,000
20,000
22,000
38,000
409,000
19,000
94,000
70,000
4,000
9,000
21,000
5,000
387,000
362,000
392,000
222,000
815,000 1,290,000
78,000
122,000
79,118
18,430
17,000
18,000
65,000
29,000
420,000
574,000
185,289 289,676
80,825
116,284
9,242
2,990
721,000
57,000
94,174
19,000
30,000
645,000
104,701
111,260
2,797
1,341,000
Total European stocks
India cotton afloat for Europe_ _ _
60,000
American cotton afloat for Europe 87, 60
Hapt,Brazil,&c.,afit.for Europe_
30,000
Stock in Alexandria, Egypt
56,000
Stock in Bombay, India
217,000
Stock in U. S. ports
188,151
Stock in U. S. Interior towns_ _
80,350
U. S. exports to-day
2,184
Total visible supply
2,042.145 1,785,933 2,423,921 1,874,932
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales. 791,000 292,000 693,000 328,000
Manchester stock
41,000
37,000
44,000
50,000
Continental stock
347,000 282,000
168,000
291,000
American afloat for Europe
67,460
79,118
18,430
04,174
U. S. port stocks
185,289 289,676
188,151
194,701
U. S. Interior stocks
80,350 116,284
80,825
111,260
•
U. S. exports to-day
9,242
2,184
2,990
2,797
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
1,517,245 1,00b,933 1,425,921
88,000
21,000
13,000
40,000
60,000
30,000
56,000
217,000
103,000
10,000
11,000
80,000
78,000
18,000
65,000
420,000
942,932
125,000
19,000
11,000
101,000
122,000
17,000
29,000
574,000
104,000
18,000
5,000
54,000
57,000
19,000
30,000
645,000
525,000 785,000 998,000
1,517,145 1,000,933 1,425,921
932,000
942,932
2,042,145 1,785,933 2,423,921 1,874,932
Total visible supply
6.67d.
Middling Upland, Liverpool
7.27d.
5.59d.
5.29d.
12.65c.
Futures
10.00c.
9.90c.
13.35c.
Sales of Spot and Contract. • Middling Upland, New York
Spot Market
Market
1151d.
11d.
BUM Good Brown, Liverpool_ _9 13-16d. 8 7-16d.
Closed. '
8.35d.
Peruvian, Rough Good, Liverpool
Closed.
8.90d.
8.65d.
11.75d.
Con- Con6(d. 5 5-16d.
6;id. 5 5-16d.
Spot. sum'n. tract. Total. Broach, Fine, Liverpool
Tinnevelly, Good, Liverpool_ __ _5 15-16d.
5d.
5;id.
5 %d.
Saturday_ _ Quiet. 10 pts. dec_ _ Barely steady
____
Monday_
Continental imports for the past week have been 34,000
uiet, 5 pm ad"- _ _ Steady
---Tuesday _ _ Steady, 5 pts. adv_ Strong
398
398 bales.
Easy
Wednesday Quiet
214
214
Steady
'I he above figures for 1909 show a decrease from last week
Thursday _ Quiet
Friday _ _ Quiet, 15 pts. deo
Easy
17
919 ,)1 125,708 bales, a gain of 256,212 bales over 1908.
600 1.527
!
______
Total
a decrease of 381,776 bales from 1907, and a gain of 167,213
020
-.
500
bales over 1906.
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 corresponding period for the previous year-is set out
in detail below.
IV
10
Movement to August 21 1908.
.01
,
000MOODV.000V0.0.000.=.00N.t0 10
00V000V.N.V00000.0.0MN...01. tm
_n_.
V.
N.V.V.... 9000= IV I.
..
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I
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.,
.4,.;
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to E
CS
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00.
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,.. CO -. -.
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.
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,
00.00. 100 t001000000000t.101.
M.N0N.00000.t0N1.100M.N0NI00 1. im
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1.
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.N.V0000.000VV00.ONN00005.000.1.0000000N05
01.0.0.NOMV0.050=..0.0N0ON00000.vm. 0
VON.
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ts
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Closing Quotations for Middling Cotton onWeek ending
Aug. 20.
CO N'SC N op t CO ,tt0CO 1 'on , ihn...-{con.{0.{1...-{
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Galveston
New Orleans__ _
Mobile
Savannah
Charleston
Wilmington_ _ _ _
Norfolk
Boston
Baltimore
Philadelphia _ _ _
Augusta
Memphis
St. Louis
Houston
Little Rock_
12 y,
12 5-16
123%
123%
124
12 5-16
123%
123%
%
123
12 5-16
123%
123%
123%
12 5-16
123%
123%
12%
12 3-16
123%
123%
12.80
12%
12.95
12%
12%
12%
12%
11%
12.70
12%
13.00
12%
1 23%
12M
123%
1134
12.75
12%
13.05
12%
12%
123
%
12%
11%
12.80
123'i
13.05
12%
123%
12'/8
123%
11
12.80
123%
13.05
12%
12
12%
12%
113%
12.80
123%
12.90
12%
123%
12%
12%
113%
0
-The highest,.
NEW ORLEANS OPTION MARKET.
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday.
Aug. 14. Aug. 16. Aug. 17. Aug. 18. Aug. 19. Aug. 20..
V
11
000000000.N.0000VON0=000N0
,0000. 0 top
..M.NN0V1000V0V..00.000N=.000000 01N
. N.0000V00. ONNV0
0 N0100.500MVM
'CO
NM
V
.
N.
Nri.N
.
-. 4
-. CO
.0.3C,10000<1.0V4,000..0..000..-40,tr,....,
tV
..In{0.1...000000oacaeozne000.nesloo,-{o..0 ,n
..,
N n.--,.'
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,
.
M
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.
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.'N
.
CO '
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,-.
t
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.
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CO
to
, ON
I '0 t
I
1.6
.
h
I Cl
op
I.
0,..t,..N000n0000=0,.....n.NnMN...Nn00.N000000
,t.
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co
000.Nr..00000V=0
.
N00.N..V.00.1
,
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0
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N10.01N..V.000 0.N.00000000.0.00. NO.N0.
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.
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10
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'(:).
eS
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1
1 Week. I Season.
.
Receipts.
12 ya,
12 5-16
123(
123%
I .
n
Movement to August 20 1909.
Sat'day. Monday. Tuesday. Wed'day. Thursd'y, Friday.
CO
..
tr,
I
[VoL. Lxxxix.
THE CHRONICLE
480
a
CO
a
co::
g 4::::::
A
-•4
T.: (A?
Vre'm
eg4
?
(.7
CO
5p4O,2g g
CO
N
-
°
•^77ci
-oEn C1
.0;118
°
ot040
.
00.,{.00 4,> > E007,144i001f0c4P.›.01,V,ft,r,
7.
i E'g g w--,[4 4 0
cq1E°71 4V 4t0800004,-"".42
'
44
-doE'-'e.1,12.4 .00,?;vd2.4-,;00t4
'50-74;
c8,1g4i286c.1x45P4.
50*AzglUa.
z...1V4.4,4%,
PW/I
)
-
The above totals show that the interior stocks have decreased during the week 4,185 bales and are to-night 35,934
bales less than at the same time last year. The receipts
at all the towns have been 24,964 bales less than the same
week last year.
Leaving total net overland*
254,638
2,797
259,515
1,676 1,367,526
696
906,162
986
®
11.85 •
- 12.10-.18
12.00-.09- ® -12.24 -- 12.2612.05 -12.11 -12.30 -12.25-.26 12.21-.23 12.03 •
11.99-.08 12.05-.15 12.15-.29 12.19-.34 12.16-.29 12.00-.14
12.01-.02 12.07 -12.28-.29 12.19-.20 12.19-.20 12.00-.01
- ® -- ® -- ® ..___ - ® _- 12.10 12.01-.03 12.06-.08 12.28-.30 12.19-.21 12.19-.21 12.01-.03
11.97-.05 12.02-.12 12.12-.25 12.17-.31 12.15-.27 12.00-.1511.99-.00 12.03-.04 12.24-.25 12.16-.17 12.19-.20 12.01-.02
12.00-.07 12.05-.15 12.15-.28 12.19-.34 12.18-.29 12.04-.18
12.01-.02 12.06-.07 12.27-.28 12.19-.20 12.22-.23 12.04-.05,
___. ® ____ _ ® ____ ___ ® ___ _ ® _
- ® 12.05-.07 12.10-.12 12.31-.33 12.21-.23 12.24-.26 12.09 •
12.14-.20 12.17-.27 12.35-.40 12.35-.47 12.31-.35 12.17-.29,
12.16-.17 12.20-.22 12.40-.42 12.34-.35 12.33-.34 12.18-.91
_.® _ _ ® -12.39 -- Co _
12.22-.24 12.26-.28 12.45-.47 12.39-.41 12.38-.40 12.29 •
Firm.
Firm.
Steady., Quiet.
Quiet.
Steady. Steady. V'y st'y. Steady. Steady.
Quiet
Steayd..
• Nominaj.
reports to us this evening from the South indicate that the.
temperature has been quite high during the week, especially
in Texas.
over
much
The rainfall has been light, as a rule, and dry
of
the
Southwest.
Further
deterioration
is.
claimed to have occurred in Texas as a result of the extreme
heat, but from the southern portion of the State reports.
indicate that the high temperature has been instrumental
in practically exterminating the boll weevil, improving theoutlook there.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for the
week and since Sept. 1 in the last two years are as follows:
-1908-09--1097-08Since
August 20Since
Week. Sept. 1.
ShippedWeek. Sept. 1.
1,984
683,117
1,590
Via St. Louis
476,353
89
305,840
499
Via Cairo
230,266
30,693
134
Via Rock Island
36,960
85,789
24
493
Via Louisville
57,480
50,415
540
Via Cincinnati
55,080
497
188,502
162
Virginia
points
Via
96,480
68
277,808
75
Via other routes, ece
213,058
2,662 1,622,164
3,493 1,165,677
Total gross overland
Deduct shipnients146,697
374
200
Overland to N. Y., Boston, &c.. _ _
111,945
76
48,937
66,785
Between interior towns
612
59,004
2,431
Inland, &c., from South
80,785
Total to be deucted
- ® -- 12.20- ® --- 12.20- ®
12.12 -12.17 -12.30 -12.05 • 12.04 *
WEATHER REPORTS BY TELEGRAPH.-Telegraphic
<1;*
4
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
NovemberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
FebruaryRange
Closing
MarchRange
Closing
MayRange
Closing
ToneSpot
Options
Elsewhere, on the whole, the crop is doing
fairly well.
Galveston. Texas.-Recent high temperatures, it is claimed,
are causing further and continuous deterioration in Texas.
Reports are to the effect, however, that the extreme heat
has practically exterminated the boil-weevil in south Texas,
improving the prospects there. There has been a trace of
rain on one day of the week. Average thermometer 86,
highest 95, lowest 76.
Abilene, Texas.-It has rained lightly on one day of the
week, the rainfall being sixteen hundredths of an inch.
The thermometer has averaged 88, the highest being 106.
and the lowest 70.
Brenham, Texas.-We have had no rain during the week:
The thermometer has averaged 93, ranging from 74 to 111.
Corpus Christi, Texas.-We have had no rain during the
week. The thermometer has ranged from 74 to 92, averaging 83.
Cuero, Texas.-Dry all the week. Average thermometer90, highest 108, lowest 71.
Dallas, Texas.-There has been no ram during the week.
The thermometer has averaged 93, the highest being 115
The foregoing shows the week's net overland movement
has been 1,676 bales, against 696 bales for the week last
year, and that for the season to date the aggregate net over- and the lowest 71.
Fort Worth, Texas.-There has been rain on one day the
land exhibits an increase over a year ago of 461,364 bales.
--1908-09---------1907-08----- past week, the rainfall reaching ninety-four hundredths of
Since
in Sight and Spinners'
Since an inch. The thermometer has averaged 91, ranging from
Week.
Sept. 1.
Takings.
Week.
Sept. 1.
44,246 8,310,287 70 to 112.
14,396 9,821,828
Receipts at ports to Aug. 20
696
1,676 1,367,526
Net overland to Aug. 20
906,162
Henrietta, Texas.-We have had rain on two days dur33,000 2,189,000
Southern consumption to Aug. 20_ 50,000 2,406,000
the week, the rainfall being one inch and sixty-three
--- ing
77,942 11,405,449 hundredths. The thermometer has ranged from 70 to 105,
Total marketed
66,072 13,595,354
*2.905
x33,656
Interior stocks in excess
35,701 averaging 88.
•4,185
75,037
Huntsville, Texas.-We have had no rain during the week.
Came into sight during week_ _ _ 61,887
13,561,698
Total in sight Aug. 20
11,441,150
Average thermometer 90, highest 107, lowest 73.
- -Kerrville, Texas.-We have had rain on one day the past
8,836 1,914,767
North'n spin's takings to Aug. 20_ 8,147 2,798,581
week, the rainfall being twenty-one hundredths of an inch.
• Decrease during week. x Less than Sept. 1.
The thermometer has averaged 83, the highest being 105
Movement into sight in previous years:
and the lowest 60.
1Sept.
WeekSince
Bales.
Bales.
Lampasas, Texas.-There has been no rain the past week.
1907-Aug.23
57,524 1906-07-Aug. 23
13,451,122
1906-Aug.24
92,920 1905-06-Aug. 24
11,152,680 The thermometer has averaged 91, ranging from 70 to 112.
1905-Aug.25
25
-Aug.
102,829 1904-05
13,562,268
Longview, Texas.-There has been rain on one day during
1904-Aug.26
45,655 1903-04-Aug. 26
10,153,964
the week, the rainfall being fifty-eight hundredths of an
QUOTATIONS FOR MIDDLING COTTON AT OTHER inch. The thermometer has ranged from 73 to 110, averMARKETS.-Below are ,the closing quotations of middling aging 92.
cotton at Southern and other principal cotton markets for
Luling, Texas.-Dry all the week. Average thermometer
each day of the week.
88, highest 105, lowest 70.
Aim 21 1909d
THE CHRONICLE
481
Nacogdoches, Texas.-We have had no rain the past week.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
The thermometer has averaged 91, the highest being 109
and the lowest 72.
Cotton Takings.
1908-09.
1907-08.
Week and Season.
Palestine, Texas.-Rain has fallen on one day of the
Week.
Week.
Season.:
Season.
week, the rainfall being sixty-four hundredths of an inch.
Visible supply Aug. 13
2,167,853
The thermometer has averaged 91, ranging from 74 to 108.
1,863,296
Visible supply Sept. 1
1,714,982
2,291,844
Paris,,Texas.-There has been no rain the past week. American in sight to Aug. 20_
61,887 13,561,698
75,037 11,441,150
Bombay receipts to Aug. 19_ _
Thermometer has ranged from 73 to 114, averaging 94.
4,000 2,100,000
8,000 2,054,000
Other India ship'ts to Aug. 19_ _
11,000
435,000
8,000
379,000
San Antonio, Texas.-It has been dry all the week. Alexandria receipts to Aug. 18_
100
890,100
956,000
Other supply to Aug. 18*
Average thermometer 89, highest 106, lowest 72.
10,000
216,000
1,000
257,000
Taylor, Texas.-We have had no rain the past week. The
Total supply
2,254,840 18,917,780 1,955,333 17,378,994
thermometer has averaged 89, highest being 108 and
Deductlowest 70.
Visible supply Aug. 20
2,042,145 2,042,145 1,785,933 1.785,933
Weatherford, Texas.-It has rained on one day of the
takings to Aug. 20
212,695 16,875,635 169,400 15,593,061
week, the precipitation being twenty-four hundredths of an Total
Of which American
161,595 13,021,535 130,400 11,776,061
inch. The thermometer has averaged 90, ranging from
Of which other
51,100 3,854,100
39,000 3,817,000
-73 to 107.
• Embraces receipts in Europe from Brazil, Smyrna, West Indies, doc.
New Orleans, Louisiana.-There has been rain on one day
the past week, the rainfall being twenty-nine hundredths of
INDIA COTTON MOVEMENT FROM ALL PORTS.
an inch. The thermometer has averaged 87.
Shreveport, Louisiana.-Dry all the week. Average
August 19.
1908-09.
1907-08.
1906-07.
thermometer 91, highest 110, lowest 73.
Vicksburg, Mississippi.-There has been no rain during
Receipts atSince
Since
Since
Week.
Sept. 1. Week. Sept. 1. Week. Sept. 1.
the week. The thermometer has averaged 86, the highest
being 99 and the lowest 73.
Bombay
4,000 2,100,000 8,000 2,054,000 12,000 3,058,000
Helena, Arkansas.-No rain here, but showers in the
neighborhood. Crops need rain. Thermometer has ranged
For the Week.
Since September 1.
from 69 to 98, averaging 83.
Exports from
Little Rock, Arkansas.-There has been no rain during the
Great ContiContiGreat
Britain. nent. Total. Britain.
week. Average thermometer 89.5, highest 105 and lowest74.
nent. I Total.
Memphis, Tennessee.-Hottest weather of the season. Bombay1908-09
Crops are making favorable progress. First new bale re3.000 3,000
25,000 588.0001 613,000
1907-08
8,000 8,000
28,000 651,000; 679,000
ceived Thursday from Pine Bluff, Arkansas, five days later
1906-07
15,000 15,000
63,000 1,195,000'1,258,000
than last year and one day, behind the average. We have Calcutta1908-09
2,000 2,000
6,000
47,000,
53,000
had rain on one day of the week, the rainfall being three
1907-08
1,000
1,000
5,000
28,000
33,000
hundredths of an inch. The thermometer has averaged
1906-07
1,000
1 000
10,000 149,000 159,000
Madras85.3, the highest being 95.3 and the lowest 73.2.
1908-09
1,000 2,000 3,000
8,000
30,000
38,000
Nashville, Tennessee.-The week's rainfall has been one
1907-08
2,000 2,000
34,000
44,000
10,000
3,000 7,000 10,000
9,000
51,000
60,000
inch. The thermometer has averaged 80, ranging from All1906-07
others64 to 96.
1908-09
3,000 3,000 6,000
31,000 313,000 344,000
1907-08
5,000 5,000
25,000 277,000 302,000
Mobile, Alabama.-Weather unfavorable to cotton. The
1906-07
2,000 13,000 15,000
20,000 260,000 280,000
intense heat is expected to cause much shedding on uplands.
all
Total
We have had rain on three days during the week, the pre1908-09
4,000 10,000 14,000
70,000 978,000 1.048,000
cipitation reaching eighty-one hundredths of an inch. The
1907-08
16,000 16,000
68,000 990,000 1.058,000
1906-07_
6,000 35,000 41,000 102,000 1,655,0001 1.757,000
thermometer has ranged from 73 to 101, averaging 87.
Montgomery, Alabama.-Several new bales received this
week. The week's rainfall has been thirty-four hundredths
ALEXANDRIA RECEIPTS AND SHIPMENTS.
of an inch, on one day. Average thermometer 85, highest
98, lowest 74.
Alexandria, Egypt,
August 18.
1908-09.
1907-08.
Selma, Alabama.-We have had rain on one day during
1906-07.
the week, the precipitation reaching thirty hundredths of an Receipts (cantars)This week
inch. The thermometer has averaged 85.5, the highest
400
1,500
Since Sept. 1
6.675,829
7,171,170
6.861,565
being 98 and the lowest 73.
Augusta, Georgia.-It has rained on three days of the
week, the precipitation reaching one inch and fifty-three
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
hundredths. The thermometer has ranged from 71 to 94, Export (bales)averaging 82.
To Liverpool
195,9331
228,921
222,683
To Manchester
Savannah, Georgia.-Rain has fallen on four days of the
218,444
210,638 1.750 209,586
To
Continent
3,250
372,0:35
2,500
378,788
2.250
356,223
week, the rainfall being one inch and seventy-four hunTo America
91,550
77,002
100 118,805
dredths. Average thermometer 83, highest 95, lowest 71.
Total
exports
3,250
877,962
2,500 895,349 4,100 907,297
Charleston, South Carolina.-We have had rain on four
days the past week, the rainfall being eight hundredths of an
MANCHESTER MARKET.-Our report, received by
inch. The thermometer has averaged 87, the highest being
cable to-night from Manchester states that the market is
103 and the lowest 75.
Charlotte, North Carolina.-Cotton is fruiting finely. firm for both yarns shirtings. Merchants arer buying
There has been rain the past week, the rainfall reaching very sparingly. We give the prices for to-day below and
one inch and sixty hundredths. The thermometer has leave those for previous weeks of this and last year for comparison.
averaged 77, ranging from 67 to 87.
The following statement we have also received by tele1909.
1908.
graph, showing the height of rivers at the points named at
8 a. m. of the dates given:
85( lbs. Shirt- Corn
8% lbs. Shirt- Corn
32s
New Orleans
Memphis
Nashville
Shreveport
Vicksburg
Above
Above
Above
Below
Above
zero
zero
zero
zero
zero
of
of
of
of
of
gauge_
gauge_
gauge_
gauge_
gauge_
Aug. 20 1909.
Feet.
6.4
12.2
11.9
2.9
17.4
Aug. 211908.
Feet.
7.6
12.2
7.7
2.2
16.4
EGYPTIAN COTTON CROP.-The July report of the
Alexandria General Produce Association is as follows:
The temperature in the Delta has been favorable and the plants have
made such progress that they continue to be ten to fifteen days earlier than
in
1908, and are healthy and vigorous. Worms, although decidedly
numerous than in the corresponding month last year, have so far done more
only
a moderate amount of damage, and, according to the latest information,
the heat is causing them to disappear in most localities. Water has been
abundant and rotations have been suppressed. From Upper Egypt very
satisfactory reports are received, and picking is about to begin of the
country cotton.
Mr. Fr. Jac. Andres' advices under date of Alexandria,
July 25, say:
So bad have the reports of the growing crop been of late that I made
an extensive trip through the interior to make a thorough examination of
the situation. I have just returned, and am very glad I made the journey.
What I have personally seen is really bad: the crop has evidently suffered
from caterpillars, but so far not to the extent some people say. Damage
most certainly exists, but not sufficient to alarm us. Many points in
lower Egypt cotton is being plowed up and the land put in corn. In other
places plants are entirely stripped of their leaves and look like mere sticks.
The damage resulting from this cannot yet be estimated. Much will depend upon the next laying of the eggs by the caterpillars, which takes place
about the beginning of August. If then the temperature is favorable to
the hatching of the eggs, the damage will certainly be very detrimental
to the crop, as at that time the worms destroy the boll.
And on July 31 their special correspondent wrote:
Crop reports are somewhat conflicting, owing to the ravages of worms
being heavier in some sections than in others; but the general opinion Is
that the crop will prove larger than last year.
Cop
Twist.
C.
iuly
9 83%
16 94
d. s. C.
a. d.
48
9% 4
9% 4
9% 4
9% 4
48
CC
9% 4 10 09 2
9% 4 10 09 2
9% 4 1034 09 3
3:4 Ul
Aug.
6 9
13 9
20 934
tags, common
to finest.
103409 134
11 09 3
10 09 2
3
1034489 .
Mid.
Upl's
32s Cop
Twist.
d. d.
tags, common
to finest.
d. s. d.
s. d.
Mid.
Upl's
d.
6.75 89-16 0
6.72 834
0
6.48 8%
0
6.73 83%
0
9% 5
934 5
9% 4
9% 4
6.69 8%
6.72 8%
6.67 8
934 4 11 08 0
6.25
9% 4 1034 08 0
5.92
9 4 10 07 1034 5.59
0
0
0
03408
0 08
11 08
11 08
2
1%
1
1
6.34
6.10
5.98
6.02
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 18,865 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-Aug. 13-Baltic, 1,156_ Aug. 14Carmania, 1,034
2,190
To Havre-Aug. 13-Florida, 1,153 upland, 28 Sea Island, 323
foreign
1,504
To Hamburg-Aug. 18-President Lincoln, 12
12
To Barcelona-Aug. 13-Erika, 150
150
To Genoa-Aug. 13-Berlin, 2,860
2,860
GALVESTON-To Liverpool-Aug. 13-Senator, 2.642
2,642
To Hamburg-Aug. 17-Pallanza 200
200
PORT ARTHUR-To Hamburg-Aug. 16-Boveric, 475
475
NEW ORLEANS-To Liverpool--Aug. 13-Custodian, 824_ _ _ Aug.
18-Barbadian, 200
1,024
To Hamburg-Aug. 17-Illyria, 1,200
1,200
To Genoa-Aug. 17-Prinelpessa Lactitia, 4,129
4,129
To Mexico-Aug. 19-City of Mexico, 50
50
BOSTON-To Liverpool-Aug. 17-Devonian, 434
434
To St. John-Aug. 16-Calvin Austin, 195
195
To Yalmouth-Aug. 14-Prince George. 50
50
BALTIMORE-To Bremen-Aug. 18-Main, 1,750
1,750
Total
18,865,
(VoL. Lxxxix.
THE .CHRONICLE
482
The tone of the Liverpool market for spots and futures
COTTON CROP CIRCULAR.-Our Annual Cotton Crop
Review will be ready in circular form about Wednesday, each day of the past week and the daily closing prices of
Sept. 8. Parties desiring the circular in quantities, with their spot cotton have been as follows:
business card printed thereon, should send in their orders as
Saturday. Monday. Tuesday. Wednesday. Thursday. Friday.
Spot.
soon as possible to ensure early delivery.
Dull
EXPORTS OF BREADSTUFFS, PROVISIONS, COT- Market, 1
Dull.
Quiet.
More
Quiet.
and
Quiet.
12:15
TON AND PETROLEUM.-The exports of these articles
demand.
.
Easier.
P.M. 1
during the month of July, and the seven months, for the
6.69
6.67
0.73
6.56
6.65
6.60
Mid. Upl'ds
past three years have been as follows:
1909.
Exports
Item
United Stales.
July.
1908.
7 Months.
7 Months.
July.
Sales •
Spec.&exp.
1907.
July.
7 Months.
Quantities.
Wheat _bush_ 2,714,962 13,703,105 4,854,185 42,267,14 2,071,469 29,169,889
978,224 8,869,996
Flour_ _ _ bbis_
697,463 7,273,241
405,040 4,496,557
Wheat *bush_ 4,537,642 33,937,611 7,992,768 74,996,730 6,473,477 69,084,851
416,413 24,919,110 7,238,745 62,210,501
739,313 23,434,700
Corn_ _ _bush_
Total bush_ 5,276,953 57,372,311 8,409,181 99,915,840 13,712,222 131,295,352
Values.
Wheat & flour 5,613,270 38,204,819 7,/360,019 75,505,251 5,964,859 59,585,840
403,819 17,172,770 4,654,237 34,847,495
Corn and meal
609,634, 17,537,709
802,013
132,895
713,286
27,403
80,920 1,041,634
Oats and meal,
162,236 1,021,594
93,581 1,413,382
238,850 1,050,202
Barley
r • 27,657
57,165 1,548,581
520,225
75,649
164,905
Rye
Breadstuffs.1 6,518,834 57,670,921 8,616,134 96,050,209 10,869,246 97,408,576
Provisions _ . 9,898,946 84,484,201 11,114,324 99,610,317 16,894,401 109,786,622
Cattle.& hogsit 894,685 9,356,292 1,363,369 16,093,373 3,084,705 22,141,945
0,500,371 186,316,281 6,398,188 203,757,702 5,301,339 234,109,666
Cotton
Petroletim,&c ‘ 8,361,675 67,849,276 9,918,050 62,709,531 8,194,438 46,666,857
Total value
[36,172,511 395,676,971 17,410,065478,221,136 44,344,129510,113,666
* Including flour reduced to bushels.
Note.-All the above figures are based on the monthly pre ImInary returns issued
by the Bureau of Statistics, and cover about 96% of the total exports.
p-4
XP0RTS OF COTTON GOODS FROM GREAT
BRITAIN.-Below we give the exports of cotton yarn,
goods, &c., from Great Britain for the month of July and
since Oct. 1 1908-09 and 1907-08, as compiled by us from
the British Board of Trade returns. It will be noticed that
we have reduced the movement all to pounds.
Yarn de Thread.
000s
omitted. 1908-09 1907-08 1908-09
Cloth.
^ ds.
uds.
lbs.
455,687 521,680
Oct __ _ 19,126 24,91
378,952 516,375
Nov _ _ _ 13,517 25,68
Dec_ _ _ 17,50 22,286 388,373 477,438
1st qr. 50,151 72,876 1,223,012 1,515,493
Jan __ _ 19,48 25,191
19,052 22,45
Feb_
22,013 22,595
Mch
Total 01 All.
1907-08 1908-09
419,123 528,294
435,684 506,125
492,867 473,701
1907-08 1908-09
lbs.
97,256
90,195
88,942
1907-08
lbs.
104,142
84,151
89,898
lbs.
122,166
121,875
111,228
228,040 282,393 278,191
355,269
lbs.
85,016
70,634
72,39
78,049
81,133
91,782
2d quar. 60,545 71,244 1,347,674 1,508,120 250,964
98,362
04,272
88,198
97,529
100,185
113,795
123,553
116,730
110,793
280,832 311,509 351,076
, 6 tans_ _ 110,696 143,120 2,570,686 3,023,613 479,004 563,225 589,700 706,345
April _- 19,6051 21,357 443,149 455,220
_ 20,0241 19,852 440,902 455,968
May
429,442
20.l84j 18,612 430,73
June
3d qr. 59,81
82,523
82,10
80,21
59,821 1,314,781 1,340,630 244,83
84,757 102,128
84,899 102,129
70,998 100,394
249,654
304,651
106,114
104,751
98,610
309,475
9 mos_ _ 170,50 202,941 .885,4614.364.243 723,842 812,879 894,351 1,015,820
97,203 129,477 118,558
July _ _ _ 22,362 21,353 575,206 522,102 107,115
866
774
Stockings and socks
33,852
32,701
Sundry articles
of cotton manufactures
Total exports
_•
1,057,303 1,169,096
The foregoing shows that there , has been exported from
the United Kingdom during the ten months 1,057,303,000
lbs. of manufactured cotton, against 1,169,096,000 lbs. last
year, or a decrease of 111,793,000 lbs.
A further matter of interest is the destination of these exports, and we have therefore prepared the following statements, showing the amounts taken by the principal countries
during July and since Oct. 1 for each of the last three years.
r October 1 to July 31,
July.
Piece Goods-Yards.
(000s omitted.)
East Indies
Turkey,Egypt and Africa_ _
China and Japan
Europe (except Turkey)_ _ _
South America
North America
All other countries
Total yards
Total value
Yarns-Lbs.
(0005 omitted.)
Holland
Germany
Oth.Europe(except Turkey)
East Indies
China and Japan
Turkey and Egypt
All other countries
Total pounds
Total value
1909.
1908.
1907.
1908-0941907-08. 1906-07.
230,427 229,456 286,623 1 758 71312,217,180 2,201,247
97,087 93,032 83,072 835,338 715,852 897,226
81,538 63,174 67,923 578,341 544,199 606,760
29,862 23,110 31,076 283,536 278,296 275,750
52,555 39,262 70,161 376,854 418,861 509,658
30,277 23,798 33,449 264,999 321,288 293,704
53,460 50,270 61,854 362,891 390,671 438,234
575,206 522,102 634,158 4,460,672 4,886,347 5,282,577
£6,835 £6,601 £8,219 £53,377 £58,827 £66,463
3,232
3,674
3,850
4,473
280
1,458
2,818
3,090
4,085
3,116
4,444
793
1,473
2,065
3,702
6,734
4,424
3,342
519
1,689
2,546
19,785 19,066 22,956
£1,062 £1,073 £1,507
31,879
32,560
32,224
27,664
6,671
14,92:
23,90.
39,050
45,160
42,350
33,668
4,589
11,730
21,127
36,649
47,363
33,974
27,635
7,081
13,773
20,474
169,832 197,674 186,949
£9,27: £12,349 £11,615
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
1/ isu.
32,000
%les of the week
400
Of which speculators took_ _
Of which exporters took_ _ _ _ 1,400
27,000
Sales, American
6,000
Actual export
39,000
Forwarded
Total stock-Estimated
976,000
Of which American-Est_ _887,000
Total imports of the week_
23,000
I, Of which American
18,000
45,000
Amount afloat
20,000
Of which American
Aug. 8.
48,0000
0
1,00
42,6615
3,000
59,000
92,000
845.000
17,000
7,000
57,000
27,000
Aug. 13,
37,000
Ant,. 20.
41,000
:1,666
1,666
33,000
4,000
44,000
911,000
818,000
26,000
165,000
57,000
21,000
37,000
5,000
45,000
879,000
791,000
18,000
16,000
53,000
17,000
4,000
8,000'
1,500
6,000
300
7,000
300
10,000
500
8,000
400
Quiet at Quiet,unch Steady at Steady at Quiet at
Futures.
Quiet at
1 partially 2GD244 pts. to 1 point (4)6M Pis. 3 points 1@i34 pts.
Market
decline.
advance.
advance. advance.
1 pt. adv. decline.
opened
1 Steady at Steady at
Market
4
4% @5 pts. 14 @)214
P.M. J pts. dec.
pts. adv.
Easy at
Steady,
Steady at Quiet at
714 @8% 4%07 pts. 5@6 pts. unch. to
decline. 44 pt. dec.
pts. adv. advance.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Sat.
Aug. 14
Mon.
Tues.
Thus, 6 49 means 6 49-100d.
Wed.
Thurs.
Fri.
to
1234 1234 12% 4 1234 4 1234 4 1214 4 11214 4
Aug. 20. p.m. p.m. P.m. p.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m.
a. a. d. d.
d.
a.
d.
d.
d.
d.
59
59 57
59
4334 4934 53 58 6334 64
34
5334 55 50 4934 4734 49
3934 43 48
31
3634 40% 4434 50 50 4534 44 44 43 4436
4234 44
Oct.-Nov_
4034 49 4434 44
3034 3634 40 44
Nov.-Dec.
2. 3
6
65 4i
334
M 2034 3534 39 4334 49 4834 44 43 4134 43
Dec.-Jan.. ____ 6 3414 2934 3534 39 4334 49 483.4 44 43 4134 43
4334
4334 42
_ 6 3434 30 36 3034 44 49 48% 44
Jan.-Feb.. _
634 30 36 3934 44 49 49 4334 43 4134 43
Feb.-Mch.
30 38
31)
49 4834 4334 43 4134 43
Mch.-Apr.
_ 6 34
42
Apr.-May ____ 6 3314 2934 3534 3834 3 M 48 48 43 42 41
May-June
M 4234 48 47% 4234 42 4034 42
2934 35
June-July
3214 29 35 38
4234 4734 47 42 41 M 40 4134
July-Aug_ - - - - 6 3134 28
34
3734 4134 4634 46 4034 40 3834 40
d.
d.
August _ _
Aug.-Sep. _-_- 6 39
Sen.-Oct.
BREADSTUFFS.
Friday Night, Aug. 20 1909.
Flour was slightly weaker early in the week, but afterwards became stronger. The initial weakness in winterwheat flour was largely based on the liberal receipts at
primary points and the expectation of much cheaper new
spring-wheat flour soon after the crop has been threshed
and is dry enough to grind. But the sluggishness was of
short duration. It was in a sense somewhat fictitious, being
largely based on the assumption that virtually all farmers
would continue to sell their grain at less than $1 per bushel
at country stations. This was also applicable to new-crop
spring patents, which had been sold freely for mill shipment
Sept., Oct. and Nov. Most all of these sales in this market
were on a basis of $5 25 to $5 50 in wood, which would net
the farmer less than $1. Late in the week inactivity prevailed, largely owing to the indifferent attitude of millers,
who refused bids that were satisfactory previously.
Wheat was decidedly unsettled. Most of the tune traders
were showing much nervousness and hesitancy, which was
not surprising in view of the numerous conflicting influences.
Consequently there were many alternate periods of buoyancy
and weakness. Temporarily the trend was upward, which
was partly attributed to encouraging cable advices, European
markets being influenced in part by the light world's shipments and the resultant large decrease in the quantity on
passage. At times Sept. in Liverpool was especially strong,
indicating that sellers for the decline there had become
uneasy, partly because of delayed harvesting and partly on
account of the poor grading of new wheat received from here.
In domestic markets the buoyancy was partly in sympathy
with the startling rise in corn. Buying was also accelerated
temporarily by decreasing receipts of winter wheat at primary
points, with predictions of still further falling off, as it was
the general impression that most farmers were making
meagre deliveries to country stations, being unwilling to
accept less than $1 per bushel. For a short time, too, sellers
for the decline were made nervous by many unfavorable
reports from North Dakota. It was claimed that in many
cases the yield would probably be reduced appreciably,
owing chiefly to blight and rust. According to some advices
from authenticated sources, the yield in that State was likely
to be cut down fully 10,000,000 bushels compared with early
brilliant estimates. Nevertheless, it was generally agreed
that the State would have a bumper crop, possibly 90,000,000
to 100,000,000 bushels.
Afterwards the market suddenly turned weak. Demand
fell off abruptly, while offerings showed striking enlargement.
It was therefore assumed that a large short interest had been
eliminated. The increased selling pressure was largely based
on the fine weather and the highly satisfactory harvesting
returns. Advices from numerous sections of the Northwest
suggested that the yield per acre was big and the quality
excellent. Hence, dealers in the Northwest have been predicting a huge movement in the near future. Indeed, conservative merchants were well aware that shipments from
that quarter were bound to be exceedingly abundant ere
long, but nevertheless they do not feel uneasy. In other
.s
words, they do not anticipate any heavy breaks in value
as they believe that the milling and shipping demand will
be active enough to absorb almost all the wheat that will be
Aug. 21 1909.3
THE CHRONICLE
received within the next month or more. This opinion is
founded on the theory that millers of spring wheat all over
the country have practically no flour or wheat left, and
therefore it appears reasonable to suppose they will be eager
to buy new wheat as fast as it comes to market, particularly
as they have made big sales of new flour for mill shipment in
Sept., Oct. and Nov. Some reliable authorities in the
Northwest have estimated that the big millers will take at
least 10,000,000 bushels of the first rush of the crop .to
market. Consequently there seems to be little probability
of any important accumulations in Minneapolis or other
markets. Late cables have been rather discouraging.
Weather and crop conditions have been more favorable in
Europe, and hence holders were more willing to unload.
Selling was partly stimulated by reports of abundant prospective exports from Russia, the Danube and Argentina.
To-day the general trend was slightly downward, although
Sept. in the local market was strong. As a result the premium on Sept. over Dec. widened to 43c., against 3c. last
week. Contract stocks are grading poor. This leads to
rumors that a few large dealers have accumulated a big long
interest. Hence many traders are avoiding Sept., going
over mainly to Dec.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter, f. o. b
1103% 1103% 111% 1133% 1124 1123%
September delivery
108
108
1093%
1083% 1103% 109
December delivery
1043% 1043% 105
1063% 10434 1043%
May delivery
10634 1063% 106% 1083% 1063% 1063%
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery
993% 993% 993% 102
101
100
December delivery
963% 963% 963% 983% 953% 983%
May delivery
993% 100 1003% 1013% 9934 993%
Corn was advanced sharply early in the week, but afterwards part of the gain was lost. Unfortunately there appeared to be valid reason for the rise, as it was almost wholly
attributable to the fear of serious damage to the crop by the
protracted drought and intense heat prevailing, particularlywest of the Mississippi River. There was virtually no rainfall over a wide area for weeks, and much of this .time the
mercury registered around or slightly over 90 degrees, and
occasionally close to 100 in the Southwest. Under the circumstances, therefore, it was not surprising that apprehension was felt. It was claimed that under the scorching sun
corn in numerous fields had "fired," but notwithstanding
this it was the general impression that, in view of the big
area, a bumper crop would be secured. It was therefore.believed that farmers would quickly become more eager to.part
with their old reserves after the advent of timely rains, or
less intense heat. Subsequently, there was less• buoyancy
and excitement. Demand to cover short sales abated,
while holders for the rise were inclined to take profits.
Hence there was a slight recession. The change in the temper of the market was mainly traceable to the more hopeful
feeling as to crop prospects. While there was no copious or
general rainfall where moisture was most needed, there was
light precipitation in spots, and, furthermore, the heat was
by no means so great, the mercury having fallen 20 to 30 degrees in some sections. To-day there was more firmness
and a partial recovery. This was mainly caused by the continued drought, while advices from some quarters said that
the temperature was rising again.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
7734 793-4 80
sog som 803%
September delivery
73% 74 % 7334 74 % 75
743%
December delivery
663% 66
65
663% 663% 663%
May delivery
----DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery
653% 663% 653% 863% 66
663%
December delivery
54 % 563% 553% 56 % 56 A 57
May delivery
553% 573% 563% 57% 573
583%
Oats were higher early in the week, but subsequently part
of the advance was lost., It was evident that the upturn
was largely, if not wholly, caused by spirited speculative
buying for both accounts, but especially to cover short sales,
prompted to a great extent by the fear of serious damage to
the corn crop by the dry, hot weather West. The rapidity
of the rise indicated plainly that there had been a big short
interest. The new crop has moved to primary markets
freely, as was expected, but nevertheless prices did not decline materially, because the consumptive demand in nearly
all markets has improved appreciably. This created little
or no surprise; indeed, it might have been fully expected,
owing to the fact that all dealers, jobbers, 'Sze., had permitted
their stocks to run down to an exceedingly low level on account of the scarcity and high cost of old oats. To-day the
market was somewhat quiet, without material change.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Mon.
Sal.
Wed.
Tues.
Thurs.
Fri.
50
No.2 white 493'4
50
50
49 %
4934
White
clipped,
34 to 36
52-53
lbs ___ 52-53
52-53
52-53
52-53
52-53
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
38
September delivery
38 3% 383% 39
383% 383%
December delivery
38 % 38
383% 3834 38
38
May delivery
403% 403% 403% 41
403% 4034
The following are closing quotations:
FLOUR.
Winter, low grades_ __$4 40@$4 80 Kansas straights sacks .$5 00 $5 40
Winter patents, new__ 5 50
6 00 Kansas clears
"____ 4 656 4 90
Winter straights, new 5 00
5 40 City patents
6 50
6 75
Winter clear. new
5 00 Rye flour, bbls
4 75
4 35 43j) 4 80
Spring patent
0 25
6 60 Graham flour
4 15® 4 40
Spring straights
5 oOc 5 50 Corn meal, kiln dried----@ 3 75
Spring clears
5 00
5 50
483
GRAIN.
Wheat, per bush.Cents. Corn, per bush.Cents.
N. Duluth, No. 1, new
110
No. 2 mixed
elev. 803%
N. Duluth, No. 2
108
No. 2 yellow
..elev. 803%
Red winter, No.2 new_f.o.b. 1123%
No. 2 white
elev. 803%
Hard "
' _ new
113
Rye, per bush.Oats, per bush.No.2 Western, newf.o.b. 76
Nat white. 26 to 28 lbs.47% ® 48
State and Jersey
Nominal
Mixed,26 to 32 lbs.
Barley-Malting
48
Nominal
Wh. clip'd 34 to36 lbs. 52 ® 53
Feeding, c. I. C. N Y.._ 57 @ 58
The statement of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Receipts at- Flour.
Wheat.
Oats.
Corn.
I Barley.
Rye.
Chicago _
Milwaukee_ _
Duluth
Minneapolis_
Toledo
Detroit
Cleveland _ _
St. Louis__ _
Peoria
Kansas City.
Tot.wk.'09
Same wk.'08
Same wk.'07
bbls.1961bs. bush.60 lbs. bush.56 lbs. bush.32 lbs. bush.481bs. bu.56 lbs.
177,057 2,142,500 1,453,900 3,499,800
87,000
37,000
44,975
231,000
84,700
130,500
84,500
6,000
63,000
94,798
70,514
28,098
16,209
9,233
336,600
78,260
48,290
88,140
25,740
298,000
40,700
285,300
500
17,500
3,775
31,406
108,757
44,648
1,160
53,010
54,035
394,860
3,000
64,390 1,394,246
1,300
726,970
12,036
768,095
47.900
133,899
206,800
438,200
5,000
5,000
1,408,050
357,500
129,000
402,257
389,774
408,080
6,200,860
5,958,218
5,381,604
Since Aug. 1
1909
779,865 12,969,709
1908
802,396 12,747,168
1907
1,065,833 19,506,244
5,766,791
4,350,242
4,418,611
285,649
469,472
242,916
112,509
122,488
75,709
5,974,486 8,687,278
4,130,570 8,242,703
8,335,045 10,425,826
603,491
817,312
407,649
177,509
209,067
192,028
3,104,785
2,006,643
2,652,513
Total reCeipts of flour and grain at the seaboard ports for
the week ended Aug. 14 1909 follow:
Flour,
Wheat,
Corn,
Oats, Barley,
Rye,
Receipts atbush,
bbls.
bush.
bush,
bush.
bush.
New York
113,018
431,300
94,475
321,775
12,550
2,300
Boston
30,410
206,525
83,540
64,350
1,000
2,655
Philadelphia
60,200
160,285
11,166
76,085
899
Baltimore
38,697
355,715
31,627
39,401
560
6,984
Richmond
5,136
97,464
43,652
11,220
536
New Orleans *___ _
19,803
173,000
137,700
137,000
Galveston
1,000
297,000
1,000
Mobile
3,250
11,996
Montreal
16,767
735,775
56,500
50,622 12,438
Total week
287,281
Week 1908
321,141
Week Jan. 1 1909_ 8,799,255
Week Jan. 1 1908_10,088,520
2,457,064
471,656
701,453 26,548
13,370
4,153,424
191,889 1,440,070 39,269 20,130
41,847,047 29,121,033 26,670,450 4216,407 510,143
53,973,754 26,647,961 25,864,990 2999,807 1204,805
*Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending Aug. 14 1909 are shown in the annexed statement:
Wheat,
Corn, Flour,
Rye, Barley, Peas,
Oats,
Exports frombush
bush.
bush.
bbls.
bush.
bush,
bush
New York
163,164
15,520 44,943
*
1,526
11,676
Boston
120,610
940
-.
Philadelphia z
68,000
17,429
Baltimore
124,000
9,147
New Orleans
6,822 5,140
14
Galveston
2,000 11,527
Mobi:e
11,996 3,250
Montreal
726,223
59,969 22,575
28.270
Total week_ __1,201,997
Week 1908
3,093,129
96,307 114,951
36,199 161,064
39,960
633
8,000 33,866
1,523
720
The destination of these exports for the week and since
July 1 1909 is as below:
Flour
•
Week
Exports /or week and Aug.I4.
since July1 tobbls.
United Kingdom__ _ 52,459
Continent
11,032
So. & Cent. Amer
18,010
West Indies
30,323
Brit. No. Am. Cols_ 3,012
Other Countries__ _ 115
Total
Total 1908
-Corn-----Wheat
Since
Since
Since
July 1
Week
July 1
July 1
Week
1909. Aug. 14.
1909. Aug. 14.
1909.
bush.
bbls.
bush.
bush.
bush.
341,878 878,876 3,399,729
• 129,310
53,920 320,121 2,036,502
59,969
253,646
76,201
31,012
3,000
920
37,568
124,093
219,860
34,700
4,544
5,240
13,388
3,922
718
114,951 614,024 1,201,997 5,467,243
161,064 1,048,405 3,093.129 13,569.935
96,307
36,199
649,546
354,655
The world's shipments of wheat and corn for the week
ending August 14 1909 and since July 1 1909 and 1908 are
shown in the following:
Wheat.
Exports.
1909.
Week
Aug. 14.
Corn.
1908.
Since
July 1.
Since
July 1.
1909.
Week
Aug. 14.
1908.
Since
July 1.
Since
July 1.
Bushels. Bushels.
Bushels. Bushels. Bushels.
Bushels.
North Amer. 1,424,000 10,099,000 18,565,700 146,000
710,000
449,400
Russian ____ 2,256,000 13,240,000 3,096,000 535,000 4,384,000 2,624,500
Danubian __ 1,040,000 3,280,000 1,408,000 467,000 5,726,000 3,721,500
Argentine __ 688,000 9,600,000 13,006,000 3,790,000 23,864,000 13,603,500
Australian__ 176,000 1,376,000
584,000
1,616,000 15,376,000 1 2,640,000
Indian
0th. countes
96,000 1,072,000
1
Total
7,296,000 54,043,000 39,299,700 4,938,000 34,684,000 20,398,900
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
United
Kingdom. Continent.
Aug. 14 1909_ _
Aug. 7 1909_
Aug. 15 1908_
Aug. 17 1907._
Corn.
Total.
Bushels. Bushels. Bushels.
18,080,000 12,080,000 30,160,000
18,720,000 12,880,000 31,600,000
15,280,000 9,120,000 24,400,000
17,680,000 8,920,000
PS
United
Kingdom. Continent,
Total.
Bushels. Bushels. Bushels.
7,565,000 11,900,000 19,465,004
8,075,000 10,965,000 19,040,000
6,460,000 5,270,000 13,730,000
7,360,000 14,240,000
PP
•
[VoL. Lxxxxx.
THE CHRONICLE
484
53,409,865
00
74,698,266
The visible supply of grain, comprising the stocks in in fact, the demand has exceeded expectations. The regranary at principal points of accumulation at lake and vision of prices of dress ginghams has led to a freer application on such fabrics for spring, although the finer lines have
seaboard ports Aug. 14 1909, was as follows:
moved better than the coarser. Wash fabrics especially
AMERICAN GRAIN STOCKS.
Oats,
Barley, have enjoyed a larger sale during the past week, which is
Corn,
Wheat,
Rile,
bush.
bush.
Irush.
bush.
bush,
36,000 true also of tickings, brown and bleached sheetings and
310,000
13,000
48,000
365,000
New York
6,000
1,000 denims, while the call for printed flannelettes has broadened
38,000
108,000
Boston
35,000
1,000
175,000
Philadelphia ------..
materially. A noteworthy feature is the liberal purchasing
58,000
40,000
99,000
411,000
Baltimore
88,000
81,000
182,000
of heavy cotton cloths by bag manufacturers, owing to the
New Orleans
284,000
131,000
Galveston
demand from the various interests they supply;
99,000
3,000
124,000
20,000 increased
300,000
Buffalo
113,000
25,000
1,000 in some quarters this buying is considered indicative of a
16,000
647,000
Toledo
22,000
5,000
105,000
1,000 better business generally in the near future. The print
228,000
Detroit
926,000
633,000
602,000
1,000
Chicago
28,000
88,000 cloth market has shown a little more life, with fair sales
1,000
52,000
151,000
Milwaukee
36,000
28,000
18,000 reported, including some for delivery in the late months
87,000
18,000
Duluth
74,000
3,000
13,000
982,000
Minneapolis
25,000
8c., but standard
157,000
34,000
949,000
1,000
15,000 of this year; regulars are still quoted at 39/
St. Louis
120,000
176,000
1,310,000
Kansa3 City
wide goods are firmer at 53c. to 5Yo.
157,000
30,000
16,000
Peoria
40,000
69,000
Indianapolis
467,000
WOOLEN GOODS.-At present there is little doing in
149,000
443,000
591,000
On Lakes
the men's wear market. Most of the initial light-weight
24,000
52,000
25,000
498,000
On Canal and River_
business on worsteds and woolens has been placed and it is
2,442,000
154,000
2,124,000
205,000 stated that the orders booked are sufficient to keep mills
Total Aug. 14 1909- 8,283,000
2,803,000
2,366,000
124,000
Total Aug. 7 1909_ _ 8,195,000
188,000
CANADIAN GRAIN STOCKS.
well engaged for some time. Cancellations are being reOats,
Rye,
Corn,
Wheat,
Barley, ceived, but they are not as extensive as had been anticipated.
bush.
bush.
bush,
bush.
bush.
162,000
83,000
87,000 Fair re-orders are coming forward for fine heavy-weight fab428,000
Montual
305,000
Fort William
rics. In dress goods business for fall has been well main304,000
Port Arthur
tained, numerous filling-in orders being received from cutters
331,000
Other Canadian
and retailers; a feature of the demand has been the increased
162,000
83,000
87,000
Total Aug. 14 1909.... 1,368,000
-wool and worsted157,000
59,000
Total Aug. 7 1909_ _ 1,156,000
MOW call for black, worsted fabrics, although all
SUMMARY.
warp broadcloths and diagonals have been well patronized.
Corn,
Oats,
Rye,
Wheat,
Barley,
Fancy dress goods for spring, which are being shown by salesbush. •
bush.
bush.
bush.
bush
2,442,000
8,283,000
2,124,000
154,000
American
205,000 men on the road, have not yet been taken as well as sellers
162,000
83,000
1,368,000
Canadian
87,000 had expected.
154,000
2,207,000 2,604,000
Total Aug. 14 1909._ 9,651,000
292,000
FOREIGN DRY GOODS.-An improved demand is
2,960,000
124,000
2,425,000
Total Aug. 7 1909_ 9,351,000
262,000
2,265,000
151,000
1,576,000
Total Aug. 15 1908..17,443,000
478,000 noted for imported woolen and worsted goods, especially
1,674,000
138,000
1,846,000
Total Aug. 8 1908_ _16.998,000
570,000 for men's wear lines of light construction for spring, which
are being offered at prices that are considered attractive
THE DRY GOoDS TRADE.
compared with those asked by domestic producers. Linens
have continued in active request and strong; importers have
New York, Friday Night, Aug. 20 1909.
Trade has been more active among secondary distri- booked art exceptionally heavy amount of business for
buters during the week than in primary markets. While spring, and many houses are now conservative in accepting
all jobbers do not appear to have enjoyed a large further orders, as there is considerable uncertainty whether
business some of the leading houses report an in- they would be able to get the goods abroad; the possibility
demand for the principal lines of domestic cot- of further advances on the other side, too, makes it difficult
creased'
tons, such as wash fabrics, prints, sheetings, &c., as well fo quote for distant delivery. The burlap market is firm,
as dress goods, linens, silks and ready-to-wear cotton goods; with 103 -ounce quoted at 4.65c. and light-weights at 3.65c.
the latter especially sold much more freely, and more In *our issue for last week the quotations for burlaps were
2-ounce and
interest was shown in hosiery, owing to the possibility of erroneously given. Instead of 4.85c. for 103/
higher prices being named by importers. In not a few 3.80c. for light weights, they should have been 4.60c. and
jobbing departments business compared favorably with the 3.60c. respectively. The market this week, therefore shows
corresponding period of 1906. As for some time past, an advance of five one-hundredths of a cent on each class
merchants generally have confined their operations to spot of goods.
merchandise and goods available for near-by delivery, for Importations and Warehouse Withdrawals of Dry Goods.
which they have paid the prices asked, but have continued
The importations and warehouse withdrawals of dry goods
conservative in making commitments for the future. An at this port for the week ending Aug. 14 1909 and since
auction sale of blankets was well attended and the entire Jan. 1 1909, and for the corresponding periods of last year,
offering, consisting of more than 2,000 cases, was quickly were as follows:
.0
disposed of at prices quite satisfactory to sellers. During
0.0000 00 0
.00WN
g 00
NN 0000 .0 0
PV;714 00
00-.0,00
0 0000
,
Oa•
044.119
the week new prices were announced on Anaoskeag dress 00 z.
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.00
0
:
GC
0000
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d.00N4 0000 00
ginghams for spring, some showing an advance of Mc. a co
000
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.
on
:
onm
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".
yard, while others remained unchanged; the agency handling •
N4n4. 0040)
non4n NO
40:C::44
these goods has apparently named close prices in order to
insure steady distribution. In primary cotton goods mar0000 00
COO
00
NON..0 0. 00
0.0 4
co
1.4401.3
,
00
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kets a little more activity has developed in print cloths for 0
4.1.0q0
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.
N0
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40:4NN
0
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00
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ow
delivery during the latter part of this year, but forward
..
h0
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business on the whole has continued rat4r slow, as buyat
1..
,I. .
ers and sellers are still apart in their views. Spot trade,
40.4.N
W
coD
40 W el el.
73
. 1N004
• 0 co r. el 1C;i at .
el
0000
nO
0O
9.".".'
too, with first hands, has not been brisk; some business has .1
.
. 0;
.00200 NO
.0
6
.N 000 00
00.300
•
fS
been done with manufacturers who were willing to release
000 et,
.000N .0
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0
1
1;
. )
1
4‘).7
000 00
.N . 00 00
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goods at spot prices or at moderate advances because they o
Cl
have sufficient cotton on hand or under contract to cover z rzz
4n wN,O N00 00
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71
00
003444
such sales. On all distant deliveries, however, mills con.1N
.0N
..00V0h
ON • el
,4
CO
et e4
.C1.
tinue decidedly firm. Export trade has shown little, if any, • "Lls N'tq C)
at
quiet
present; a
improvement. In men's wear trade is
moderate business is passing in dress goods for fall, but the
40 400 .4
N.04. 0000
h0000W
oN
No.40 .N
0=
NO 00 NOD 40
response to offerings for the spring season, particularly
qrtf424
• p:
CI;
Z
N.m0=
4.
1'4.4
00
disappointing.
fancies, has so far been
wo
0000000000
0.1 000000 00
N.
N.00,-, O.
0
:4Tt
-12
4
.n17
7
DOMESTIC COTTON GOODS.-The exports of cotton • .
N4
oi
0)00• 01
W
4 000
.
NW
NW
00 4A.t."°
goods from this port for the week ending Aug. 14 were 3,285 X t)
0000000000 OM
packages, valued at $208,682, their destination being to the
OW
00
00
mo:o.
• on.nn 00
Wn
MO
00
COO..0
00
points specified in the table below.
00
9
4:
.
000
-774
.
4
0
4
"3
•
l
O
loo
,'000 044
c71.7 •..00 00
.n OW
-----1908Nolo York tol Aug. 14Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
. Other countries
Total
Since
Week. Jan. 1.
1,049
118
703
_
- _ 128,873
11,007
250
19,916
150
9,850
204
25,340
785
1,063
27
9,169
271
33,023
946
11,808
534
3,285
251,801
1
.
N2oto!
Since •
Week. Jan. 1. 0
53
541
omo.00
N00..
26
713
1,256
17,461
6,061
7;;;
N3
W
04
el 00 V.
e• re
00
19,292
203
5,759
Z 41 74
373
14,951
O At
1
ON410.1.
16
1,116 • t 14,; 04404
N: 12113
12,469
366
3,398
0
44
Nn
0030.44 40 00
44400 N. .
P
N404. 00 00
4034.4
000N 4
•I;;
V0
at
00
al
.407
0N
g
00
P
00
.
r4 Ct !ter
1
Tr
NN
106.111,486
DURING SAME PERIOD.
e4 03 03 C3 C4
03
00 00
-'00
0000
.N
.0
00
lei CZ
nNe.3NO 00
N40.0. Via
nn010.0
nC;N44 N 00
n40NN
ooN
.N
04
00
00
0
00
fd.
00
at
onnon
onneon
• 00.00
00
0
0000 0 el 01 I ow
NO N 04, CO
0- 00
00w
00
V.0
00
no°
01
1
at
113 652
The value of these New York exports since Jan. 1 has been at
at
at
$14,017,073 in 1909, against $7,328,442 in 1908.
As already indicated, jobbers have been called upon to
supply a broader and larger demand for most lines of do- at
mestic cottons. While few re-orders have come forward for (12
E.
bleached goods, urgent requests for prompt shipments of at
0
such goods under order have continued a feature and have a.
resulted in a steady movement. Staple prints have sold in
somewhat larger volume at the new price recently announced;
00
00
585,524 108,351,938
86,103,975
0, Ci
CC; 3‘:
3
.
.11
Ci
at
00
1.0
04
E.
,'82
o
fgp-c.)(nw.
8
485
THE CHRONICLE
AUG. 21 19091
Knoxville, purchased on Aug. 9 the $100,000 4% p0-30year (optional) coupon pike-road bonds described in Y. 89,
p. 298. The price paid was par.
Anoka, Anoka County, Minn.-Bond Sale.-The $60,000
News Items.
4% 20-year water-and-light-plant bonds, voted June 26
(V.
89, p. 57), have been bought by the State of Minnesota.
Alabama.-Governor Signs Proposed Income-Tax AmendArcher City School District (P. 0. Archer City), Archer
ment to U. S. Constitution.-Governor Comer on Aug. 17
signed the resolution providing for an amendment to the County, Tex.-Bond Offering.-This district is offering for
Federal Constitution authorizing Congress to impose an in- sale the $20,000 5% 5-40-year (optional) school-building
come tax (V. 89, p. 177) without apportionment among the bonds recently voted. Denomination $100. Date June 1
States according to population. Both the House and Senate 1909. Interest April 10.
recently accepted this amendment by a unanimous vote.
Beloit Union School District No. 1 (P. 0. Beloit), Rock
V. 89, p. 361, 424.
County, Wis.-Bond Sale.-The Beloit Savings Bank of
Denver Ootmty (P. 0. Denver), Col.-2-Litigation.-The Beloit purchased the $9,000 432% school-heating-plant
.following communication has been received by us from the bonds described in V. 89, p. 178, on July 23 for $9,111 25County Attorney in reply to our inquiry asking why the the price thus being 101.236. Maturity $1,000 yearly on
county authorities had withheld payment of the second in- Feb. 1 from 1910 to 1918 inclusive.
stallment of interest due Feb. 20 1909 on an issue of $112,Benton County School District No: 6, Wash.-Bond Sale.
500 5% (interest payable semi-annually) 1-10-year (serial) -The State of Washington, offering par for 5s, was the succertificates of indebtedness sold on Feb. 20 1908 for the cessful bidder on Aug. 14 for the $5,000 10-20-year (optional)
purchase of ballot boxes:
coupon school bonds, a description of which was given in
Aug. 12 1909.
V. 89, p. 362. A bid at par for 53As was also received from
William B. Dana Co., New York City-Gentlemen.-Your letter to Mr. James F. Benedict, the Treasurer of Wm. D. Perkins & Co. of Seattle.
Denver County, relative to certain certificates of indebtedness, has been
Big Sandy Irrigation District, Lincoln County, Col.-Bonds
referred to me for answer.
Suit was brought by a taxpayer to restrain the payment of these certifi- Voted.-An election held Aug. 10, it is stated, resulted in
cates, on several grounds, among others that the certificates were illegally favor of a proposition to
issue $250,000 irrigation bonds.
issued; that the ballot machines, for the payment of which they were
issued, are no good, and that there was a violation of contract in regard to
Bismarck, No. Dak.-Bonds Voted -The election held
the same-all of which raises several legal questions. That suit is now
Aug. 10 resulted in a vote of 134 to 86 in favor of the
pending.
At the present time we are unable to give you any further information.
proposition to issue the $5,000 10-year crosswalk-construction
Yours truly,
bonds at not exceeding 5% interest, mentioned in V. 89,
MILTON SMITH,
County Attorney. • p. 362.
Los Angeles School Districts, Cal.-Bonds Declared Valid.
Blue Bench Irrigation District No. 1, Wasatch County,
-Judge Bledsoe, of San Bernardino, sitting in the local Utah.-Bond Offering.-Proposals will be received until
Superior Court, rendered a decision on Aug. 10 declaring valid Sept. 10 by E. W. Schonian, Secretary Board of Directors
the $480,000 high-school district bonds and the $240,000 (P. 0. Theodore), for $75,000 6% bonds.
city school district bonds offered for sale on March 16.
Denominations $100 and $500. Interest on June 1 and Dec. 1 at the
County Treasurer's office. Maturity 10 to 20 years.
V. 88, p. 701.
Boerne Independent School District (P. 0. Boerne),
Maine.-Amendment to Savings Bank Investment Law.- Kimball County,
Tex.-Bonds Not Sold.-No sale has been
The Legislature of this State passed an Act (Chapter 11, made of the $15,000 5% 10-40-year (optional) school bonds
Public Laws of 1909) amending subdivision fifth, Section 23, which this district has been offering for sale (V. 88, p. 1634).
of the Revised Statutes. The subdivision referred to allows The sale is held up pending a decision in the Itasca Indesavings banks to invest their deposits in the bonds of any pendent School District case, in which it is contended that
corporation other than railroads and water companies incor- the constitutional amendment providing for an increased
porated under authority of and doing business in the State tax rate for school districts did not receive a sufficient
of Maine. The old law provided that such bonds were not number of votes to carry (See V. 89, p. 298).
permissible investments unless the corporation issuing the
Boonville School District (P. 0. Boonville), Warrick
same was earning and paying a regular dividend of 5% a
year. As amended,the law provides that such corporations County, Ind.-Bond Offering.-Proposals will be received
must be earning an amount in excess of fixed charges, interest until Aug. 21 by the School Trustees, James R. Wilson,
on its debts and running expenses equivalent to 5% per Secretary, for $15,700 4% school-building and sidewalkannum on an amount of capital stock equal to one-half of repair bonds.
Denomination $250. Interest Feb. 7 and Aug. T. Maturity part each
its entire funded debt.
six months beginning Feb. 7 1918. Bonds are exempt from taxation.
Massachusetts.-Amendments to Savings Banks InvestBradford, McKean County, Pa.-Bond Sale.-On Aug. 16
ment Law.-Chapter 491 of the Acts of 1909, approved the $15,000 improvement and the $70,000 water 4% regisJune 12, makes a number of technical changes in Section 68 tered or coupon bonds described in V. 89, p. 425, were sold
of Chapter 590 of the Acts of 1908 governing the investment to Otis & Hough of Cleveland at par and accrued interest.
of deposits of savings banks in this State. Among other The city is to pay for the cost of bonds and attorney's fees.
things, Subdivision d of Clause Second is amended so as to The former issue 'natures Jan. 1 1930, but is subject to call
prohibit the investment in the bonds of any water district after Jan. 11915, while the latter issue matures part yearly
which has within its limits, wholly or in part, any city or on July 1 from 1914 to 1921 inclusive.
town whose bonds are not legal investments. The new
Bremen, Haralson County, Ga.-Bond Offering.-ProAct also makes minor changes relating to investments in posals will be received until 10 a. m. Aug. 25 by J. F. Walker,
railroad bonds and to loans on personal security.
Mayor, for the following 5% registered bonds, which were
Philippine Islands,-Bond Sale.-The $1,500,000 4% authorized at an election held June 26:
10-30-year (optional) gold registered public works and im- $12,000 public-school-bui.ding bonds. • Vote 107 to LT. Maturity $1,000
yearly on Jan. 2 from 1920 to 1931 inclusive.
provement bonds offered on Aug. 17 were disposed of at an
8,000 electric-light bonds. Vote 97 to 35. Maturity $1,000 yearly oh
average price of 100.3025. The successful bids were as
Jan. 2.from 1924 to 1931 inclusive.
The above bonds were validated on July 21. Denomination $1,000.
follows:
MATE
1TY 131:11/111TWI'VIT,
Date Jan. 1 1909. Interest annually on Jan. 2 in Bremen. Bonds are
Morris Merritt, Grundy Center, Ia.-$5,000 at 102.
tax-exempt. The city has no debt at present. Assessed valuation 1908.
John Seistrom, Guthrie, Okla.-$3,000 at 101.
$365,625.
-$100,000
at
100.51.
Gavin L. Payne & Co., Indianapolis.
National City Bank of New York and Mercantile Trust Co., St. Louis.
Cabarrus County (P.0. Concord), N.0.-Bond Election.$1,392,000 at 100.28.
Sept. 15 to vote
Reports state that
an election will be held
The other bidders were the Guaranty Trust Co. of New on the question of issuing $135,000 bonds to pay if the
York at 100.23 for the entire issue and Jesse Hendrick of public debt and build a new jail.
North Wales, Pa., at par for $2,500.
Caldwell, Canyon County, Ida.-Bond Diection.-Reports
state that an election will be held Sept. 8 to vote on the quesBond Proposals and NedotlatIons this week tion of issuing $26,059 78 intersection bonds.
Caldwell, Sumner County, Kans.-Bond Election.-It is
Nave WIWI as follows:
Aug. 30 on the question
Albert Lea, Minn.-Certificate Sale.-On Aug. 16 Butler reported that. a vote will be taken on
of issuing $30,000 water-works-system and electrio-lightBros. of St. Paul were awarded $51,000 certificates at par
plant bonds.
and accrued interest for 5s. A bid at par for 6s was also
Camden, N. J'.-Bond Sale.-This city has disposed of the
received from the Citizens' National Bank of Albert Lea,
while the Wells & Dickey Co. of Minneapolis offered 100.10 following 4% bonds at par at private sale:
$40,000 school bonds. Denomination $1,000. Maturity Aug. 1 1939.
for
28.000 water bond, Maturity Aug. 1 1939.
-
Date Sept. 1 1909.
Sept. 1 1911."
Interest semi-annual.
Maturity "on or before
Alliance, Stark County, Ohio.-Bonds Voted.-This city
on Aug. 17 voted to issue $70,000 bonds to construct subways, repave main street and overhead bridge.
Altus, Okla.-Bonds Not Awarded.-As the date for opening bids for the three issues of 5% coupon bonds aggregating
$165,000, described in V.89, p. 362, fell on Sunday(Aug. 15),
none of the offers submitted were considered. The city, we.
are informed, will re-advertise.
Anderson County (P. 0. Clinton), Tenn.-Bond Sale.W. H. Gass, President Knoxville Banking & Trust Co. of
25.000 park bond. Maturity Aug. 1 1934.
20,000 fire bond. Maturity Aug. 1 1939.
The first-mentioned issue was taken by Trustees of the
Cooper Estates in payment for land purchased, while the
three last-mentioned issues were disposed of to the Sinking
Fund. Interest Feb. 1 and Aug. 1.
Canfield, Mahoning County, Ohio.-Bond Sale.-On
Aug. 9 the $5,000 5% 2-11-year (serial) road bonds described
in V. 89, p. 362, were awarded to L. D. Gay, M. D.. of Canfield at 105 and accrued interest. The bids were as follows:
L. D. Cay, Canfield
Seasongood & Mayer, Cin_
Otis & Hough, Cleveland__
$5.250 First Nat. Bank, Cleveland_ _15,175
5.201 Hayden, Miller & Co., Cleve.._ 5,164
5,1851First Nat. Bank,Barnesville__ 5,028
486
THE CHRONICLE
[VOL. Lxxxix.
Canton, Stark County, Ohio.-Bond Offering.-Proposals Portland at 100.575 and accrued interest. Purchaser to
will be received until 12 m. August 28 by James E. Flohr, furnish bonds. Following are the bids:
Clerk Board of Sinking Fund Trustees, for $13,000 4% Morris Bros., Portiand___$10,057 501J. P. O'Brien & Co., Bos_$10,000 00
C. H. Coffin, Chicago_ ___ 10,076 001A. J. Hood & Co., Det___ 9,800 oo
coupon (with privilege of registration) refunding bonds.
Crawford County(P.O. Bucyrus), Ohio.-Bond Offering.Authority Section 113 Municipal Code of 1902. Denomination $1,000.
Date Sept. 1 1909. Interest semi-annually at the Ctiy Treasurer's office. Proposals will be received until 12 m. Aug. 26 by J. I. Smith,
Maturity twenty years. Bonds are tax-exempt. Certified check on a
bank in Canton for 5% of amount of bonds bid for, payable to the City County Auditor, for $15,000 431% funding bonds.
Treasurer, is required. Purchaser to furnish blank bonds at his own
expense.
Carterville, Williamson County, Ill.-Bonds Defeated.A proposition to issue $10,000 sidewalk bonds was lost by
21 votes at an election held Aug. 10.
Carthage Township (P. 0. Carthage), Moore County,
N. 0.-Bond Offering.-Proposals will be received until
2 p. m. Sept. 16 by N. A. McKeithen, Chairman of the
Board of Commissioners, for $8,000 6% bonds.
Central Point, Jackson County, Ore.-Bond Sale.-On
Aug. 3 the $25,000 6% gold water bonds offered without success on July 12 as 5s (V. 88, p. 1572) were awarded to S. A.
Kean & Co. of Chicago at 101.10. Date Aug. 1 1909.
Maturity 30 years.
Centreville, Wilkinson County, Miss.-Bond Offering:Proposals will be received by J. C. Robert, Mayor, for $2,500
water-works bonds.
Chapin School District No. 66 (P. 0. Chapin), So. Caro.Bonds Not to Be Offered at Present.-We are advised that the
high-school-construction bonds voted on July 14 (V. 89,
p. 239), will not be issued until after March 1 1910.
Charleston, So. Can-Bond Offering.-Proposals will be
received until 12 m. Sept. 15 by J. 0. Lea, City Treasurer,
for $300,000 4% sewerage bonds.
Denominations $1,000 and $500.
ity 20 years from Oct. 1 1909.
Interest April 1 and Oct. 1.
Matur-
Authority, Section 2834a, Revised Statutes. Denomination $1,000.
Date Sept. 1 1909. Interest semi-annually at the County Treasurer's
office. Maturity $7,000 Sept. 1 1911 and 88,000 Sept. 1 1912. Bonds
are exempt from taxation. Certified check for 2% of bonds bid for, payable to the County Auditor, is required. Purchaser to pay accrued interest.
Crestline, Crawford County, Ohio.-Bond Offering.-Proposals will be received until 12 m. Sept. 6 by L. J. Lindsey,
Village Clerk,for $6,000 4% water-works improvement bonds.
Authority, Section 2835, Revised Statutes. Denomination $500. Date
Sept 1 1909. Interest semi-annual. Maturity $1,000 on Sept. 1 from
1914 to 1919 inclusive. Certified check for 5% of bonds bid for, payable
to the Village Treasurer, is required. Purchaser to pay accrued interest.
Custer County (P. 0. Miles City), Mont.-Bond Sale.Reports state that the Harris Trust & Savings Bank of Chicago has purchased $25,000 5% 10-20-year hospital bonds.
Cuyahoga County (P. 0. Cleyeland), Ohio.-Bond Offerings.-Proposals will be received until 11 a. m. August 28
by the County Commissioners for the following 43%
coupon road-improvement bonds:
$24,762 South Woodland Road improvement (assessment) bonds. Denomination $1,000, except one bond for $762. Maturity as
follows: $762 on April 1 1910, $1,000 each six months from
Oct. 1 1910 to April 1 1917 inclusive and $2,000 each six months
from Oct. 1 1917 to Oct. 1 1919 inclusive.
134,250 South Woodland Road improvement (county's portion) bonds.
Denomination $1,000, except ono bond for $250. Maturity as
follows: $5,250 on April 1 1910, $6,000 each six months from
Oct. 1 1910 to April 1 1912 inclusive and $7,000 each six montif•t
from Oct. 1 1912 to Oct. 1 1919 inclusive.
11,560 Center Road No. 3 improvement (assessment) bonds. Denomination $500, except one bond for $60. Maturity as follows: $60 on
April 1 1910, $500 each six months from Oct. 1 1910 to Oct. 1
1917 inclusive and $1,000 each six months from April 1 1918
to Oct. 1 1919 inclusive.
67.375 Center Road No. 3 improvement (county's portion) bonds. Denomination $1,000, except one bond for $375. Maturity as
follows: $2,375 on April 1 1910, $3,000 each six months from
Oct. 1 1910 to Oct. 1 1915 inclusive and $4,000 each six months
from April 1 1916 to Oct. 1 1919 inclusive.
Authority Sections 22b and 4637-9 Revised Statutes. Date Sept. .1
Interest semi-annually on April 1 and Oct. 1 at the County
1909.
Treasurer's office. Certified check for 1% of amount of bonds bid for,
payable to the County Treasurer, is required. Accrued interest to be paid
by purchaser.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Chattanooga, Hamilton County, Tenn.-Bid Rejected.Weil, Roth & Co. of Cincinnati were the only bidders on
Aug. 13 for the $900,000 4M% 30-year coupon water-works
boa's described in V. 89, p. 239. Their offer was rejected.
In addition to the above, proposals will also be received
Chehalis, Wash.-Bonds to Be Re-Voted.-We are advised until 11 a. m. Sept. 1,by the County Commissioners for the
that, owing to the discovery of a defect in the ordinance following 43/2% coupon bonds:
providing for the election held June 1, at which the issuance $12,921 Irish Road improvement (assessment) bonds. Denomination
$500, except one bond for $421. Maturity as follows: $421 on
of the $15,000 city-hall bonds was authorized (V. 89, p.
April 1 1910, $500 each six months from Oct. 1 1910 to Oct. 1 1916,
1511), it was found necessary to call another election to
inclusive, and $1,000 each six months from April 1 1917 to Oct. 1
1919, Inclusive.
vote on the proposition. Our informant further states that
Road improvement (county's portion) bonds. Denominaarrangements have been completed for the disposal of these 45,282 Irish
tion $1,000, except one bond for $282. Maturity as follows:
$1,282 on April 1 1910, $2,000 each six months from Oct. 1 1910
bonds as soon as the same are voted.
to Oct. 1 1916, Inclusive, and $3,000 each six months from April 1
Chesterfield Township (P. 0. Crosswicks), Burlington
1917 to Oct. 1 1919, inclusive.
Lake Road improvement (assessment) bonds. DenominaCounty, N. J.-Bond Offering.-Proposals will be received 22,423 East
tion $1,000, except one bond for $423. Maturity as follows:
until 12 m. Aug. 23 by Mary R. Braislin, District Clerk, for
$423 on April 1 1910, $1,000 each six months from Oct. 1 1910 to
April 1 1918, inclusive, and $2,000 each six months from Oct. 1
$10,000 4% coupon school-building bonds.
Authority, Article VII, Section 97, School Laws. Denomination $1,000.
Date Aug. 1 1909. Interest semi-annually at the Bordentown Banking
Co. in Bordentown. Maturity $2,000 yearly on Aug. 1 from 1910 to 1914
inclusive. Bonds are exempt from township tax. The township has no
debt at present. Assessed valuation 1909, $842,478.
1018 to Oct. 1 1919, Inclusive.
62,500 East Lake Road improvement (county's portion) bonds. Denomination $1,000, except one bond for $500. Maturity as follows: $2,500 on April 1 1910, $3,000 each six months from Oct. 1
1910 to April 1 1018, inclusive, and $4,000 each six months from
Oct. 1 1918 to Oct. 1 1919, inclusive.
Authority Sections 22b and 4637-0, Revised Statutes. Date Sept. 1.
1909. Interest semi-annually on April 1 and Oct. 1 at the County Treasurer's office. Certified check for 1% of amount of bonds bid for, payable
to the County Treasurer, Is required. Purchaser to pay accrued Interest.
Chicago Sanitary District, Ill.-Bond Offering.-Further
details are at hand relative to the offering on Sept. 15 of the
$1,500,000 4% bonds mentioned in 1j. 89, p. 425. Proposals will be received on that day until 1 p. in. by I. J. Bryan,
In addition to the above, proposals will also be received
District Clerk.
until 11 a. In. Sept. 8 for the following 43% coupon Ridge
Denomination $1,000. Date Oct. 1 1909. Interest semi-annual. Ma- Road No. 2 improvement bonds:
turity $80,000 yearly on Oct. 1 from 1911 to 1928 inclusive and $60,000
in
1929. Certified check (or cash) for 5% of amount bid, payable to the
District Clerk, is required.
Cincinnati, Ohio.-Bonds Authorized.-On Aug. 9 ordinances were passed providing for the issuance of the following
4% coupon bonds:
$9,000 Summer Street extension bonds. Date Sept. 11009. Maturity 40
years.
25,500 park bonds. Date Sept. 15 1909. Maturity 40 years.
Denomination $500. Interest semi-annually at the City Treasurer's
office.
Clearwater, Neb.-Bonds Voted.-A proposition to issue
$7,500 5% 5-20-year (optional) water-works bonds carried
by a vote of 78 to 9 at an election held Aug. 16. Date of
offering not yet determined.
Clermont County (P. 0. Batavia), Ohio.-Bonds Not Sold.
-No sale was made on Aug. 16 of the $23,000 road bonds
described in V. 89, p. 425. We are informed that none of
the bids received conformed with the terms of the advertisement.
Coleman, Coleman County, Tex.-Bond Election.-The
question of issuing $30,000 5% bonds will be voted upon
Aug. 30.
These securities, if authorized, will take the place
of the $20,000 4% water bonds voted (V. 88, p. 1572) on
June 8. The City Secretary informs us, however, that if he
finds it possible to dispose of the 4s in the meantime at par,
he will do so.
Collingswood School District (P. 0. Collingswood), Camden County, N. J.-Bond Sale.-This district has sold the
$50,000 4% 5-54-year (serial) school-building and sitepurchase bonds, proposals for which were asked until June 17.
See V. 88, p. 1511, for a description of these bonds.
• Condon School District No. 25 (P. 0. Condon), Ore.Bond Sale.-On Aug. 14 the $10,000 5% 10-20-year (optional) coupon school bonds, dated Sept. 1 1909 and described in V. 89, p. 362, were awarded to Morris Bros. of
$13,243 (assessment) bonds. Denomination $500, except one bond for
$243. Maturity $243 on Aprli 1 1910, $500 each six months from
Oct. 1 1910 to April 1 1916 inclusive and $1,000 each six months
from Oct. 1 1916 to Oct. 1 1919 inclusive.
45,750 (county's portion) bonds. Denomination $1,000, except one bond
for $750. Maturity $1,750 on April 1 1910, $2,000 each six
months from Oct. 1 1910 to Oct. 1 1916 inclusive. $3,000 each six
months from April 1 1917 to Oct. 1 1919 inclusive.
Authority, Section 22b and 4637-9, Revised Statutes. Date Sept. 11900.
Interest on April 1 and Oct. 1 at the County Treasurer's office in Cleveland.
Certified check for 1% of bonds bid for, payable to the Treasurer, is required. Purchaser to pay accrued interest.
Bond Sales.-On Aug. 11 the $65,250 43'% coupon (county's share) Parma Town Line Road No. 2 improvement
bonds described in V. 89, p. 301, were awarded to the
Davies-Bertram Co. of Cincinnati at 102.256 and accrued
interest. Following are the bids:
Davies-Bertram Co., Cin_ _$1,472 00 Well, Roth & Co., Cin
$1,194 10
Fifth-Third Nat. Bk., Cin. 1,405 50 Otis & Hough, Cleveland
1,052 00
First Nat. Bk., Cleveland__ 1,319 00 Breed & Harrison, Cin_ __ _ 1,031 00
Western Ger. Bk., Cin___, 1,306 60
On Aug. 18 the two issues of 43/2% coupon Mayfield Road
No. 2 bonds, aggregating $97,000, described in V. 89, p. 301,
were awarded to the First National Bank of Cleveland for
$98,888 (101.946) and accrued interest.
Decatur, Adams County, Ind.-Bond Sale.-On Aug. 17
the $20,000 43'% coupon refunding bonds described in V.
89, ?. 363, were awarded to J. F. Wild & Co. of In lianapolis at 103.025 and accrued interest. Maturity $1,000 each
six months from July 1 1910 to Jan. 1 1920, inclusive.
A list of the bidders follows:
J.F.Wild &Co.,Indianap_ _$20,605 00 W. R. Todd & Co., Cin__ _$20,305'00
Breed & Harrison, Cin__ _ 20,415 50 R. Kleyboite Co. Inc.,Ch. 20,222 22
Harris Tr. & S. B., Chic__ 20,414 00 McCoy & Co., Chicago_ _ _ 20,105 00
Well, Roth & Co., Chi_ _ ._ 20,360 00
Defiance, Delaware County, Ohio.-Bond Sale.-The
$6,400 5% Hopkins Street improvement bonds described in
V. 89, p. 425, were sold on Aug. 16 to the Citizens' National
Bank of Wooster for $6,863 50-the price thus being 107.242.
Maturity part yearly on March 1 from 1915 to 1927 Inclusive.
AUG. 21 1909.1
THE CHRONICLE
487
Gardner, Worcester County, Mass.-Bond Sale.-The
Delhi Drainage District (P. 0. Santa Ana), Cal.-Bond
332% 1-30-year (serial) coupon sewer-construction
$45,000
28
August
m.
p.
2
until
received
be
will
Offering.-Proposals
without success on Aug. 3 (V. 89, p. 363)
bonds
offered
voted
bonds
on
ditch-constructi
drainage
for the $25,000 5%
of at private sale at par.
been
have
disposed
363.
on July 27. V. 89, P.
Treasurer
County, Cal.-Bond Offering.Denomination $100. Interest Jan. 1 and July 1 by the County inclusive.
Angeles
Los
Glendale,
from 1921 to 1930
who handles the bonds. Maturity part yearly
Sept. 1 for $40,000 electricuntil
received
be
will
Proposals
Delphos, Allen and Van Wert Counties, Ohio.-Bond Sale. light-works bonds.
-The two issues of 5% improvement bonds described in
Goliad County (P. 0. Gonad), Tex.-Bonds to Be Offered
V.89, p. 425, were disposed of on Aug. 17 as follows:
rs' Court on
Bank Shortly.-Papers state that the Commissione
National
the
Citizens'
to
awarded
bonds
-works
water
-year
$10,000 5
Aug. 10 made final arrangements for the issuance of $40,000
of Wooster at 103.80-a basis of about 4.195 %.'
Cleveland
20,000 10-year park bonds awarded to Hayden, Miller & Co. of
4% refunding-court-house bonds.
at 107.14-a basis of about 4.122%.
Grafton, Taylor County, W. Va.-Bonds Defeated.-An
Sale.
.-Bond
,
Iowa
0.
Des Moines County (P. Burlington)
held Aug. 7 resulted in the defeat of a proposition
election
for
$30,355 04%
-Louis Blaue was the successful bidder
funding bonds. The vote was 537 "for" to
to
$95,000
issue
par.
He
paid
16.
Aug.
drainage bonds offered on
three-fifths majority being necessary to
a
506
"against,"
1-10
however,
call,
to
subject
years,
Date Sept. 1 1909. Maturity 15
authorize.
yearly, beginning in 5 years.
Grand Rapids, Itasca County, Minn -Bond Offering.Detroit, Mich.-Bonds Withdrawn from the Market.-We
are informed under date of Aug. 12 that the $150,000 bonds Proposals will be received until 1:30 p. m. Sept. 9 by Jos. H.
(the unsold portion of the issue of $250,000 33/9% 30-year McMahon, Village Clerk, for $6,500 road and bridge bonds
coupon water-main bonds mentioned in V. 89, p. 117) have at not exceeding 5% interest.
Denomination $500. Date July 1 1909. Interest semi-annually in
been withdrawn from the market.
New York or elsewhere at the option of purchaser. Maturity 15 years.
Detroit, Becker County, Minn.-Bonds Voted.-At an Certified check for 10% of bid, payable to the Town Treasurer, is required.
election held Aug. 16 a proposition to issue $34,000 4%
Grand Rapids, Wood County, Wis.-Bonds Proposed.water bonds carried by a vote of 198 "for" to 50 "against." The Common Council, it is reported, proposes to issue bonds
Deweese School District (P. 0. Deweese), Clay County, for the following purposes: $20,000 to improve and extend
Neb.-Bonds Dcfeated.-An election held July 26 resulted in the water-works, $30,000 to float the city's indebtedness and
$15,000 to improve the streets.
the defeat of a proposition to issue $2,000 building bonds.
Grayson County Common School District No. 96, Tex.Douglasville, Douglas County, Ga.-Price Paid for Bonds.
-The Mayor informs us that the price paid for the $10,000 Bonds Registered.-On Aug. 13 the State Comptroller regis5% 20-year electric-light bonds awarded on July 15 to the tered $6,000 5% bonds, due in 40 years, but subject to call
Central Bank & Trust Corporation of Atlanta (V. 89, p. 363) after 20 years.
was 983/9 and accrued interest. Denomination $500. Date
Greene County (P. 0. Snow Hill), No. Caro.-Bond OfferJuly 1 1909. Interest Jan. 1.
ing.-Proposals will be received until 12 m. Sept. 15 by
East Rutherford School District (P. 0. Rutherford), Ber- B. W. Edwards, Chairman Board of. Commissioners, for
gen County, N. J.-Bond Offering.-Proposals will be re- $30,000 5% coupon funding bonds.
Authority, Chapter 412, Laws of 1909. Denomination $500. Date
ceived until 9 p. in. Aug. 26 by E. P. Hutton, Clerk of the
Oct. 1 1909. Interest annually on Dec. 1 at the Treasurer's office. MaBoard of Education, for $16,000 432% school bonds.
on Dec. 1 from 1910 to 1938 inclusive. Certified
Denomination $1,000. Interest semi-annual. Maturity, part yearly
is
from 1912 to 1920 inclusive. Certified check for 2% of bonds bid for
required.
Ellsworth Township (P. 0. Ellsworth Station), Mahoning
9%
County, Ohio.-Bond Sale.-On Aug. 12 the $25,000 43/
road-improvement bonds described in V. 89, p. 363, were
awarded to Seasongood & Mayer of Cincinnati at 102.004.
Bids were also received from the Farmers' National Bank,
Canfield,$25,230, and Weil, Roth & Co., Cincinnati,$25,255.
Elsinore Union High School District, Riverside County,
Oal.-Bond Offering.-Proposals will be received until
Aug. 25, it is reported, for $3,000 bonds:
Escondido School District, San Diego County, Cal.Bond Sale.-E. H. Rollins & Sons of San Francisco are reported as having purchased the $18,000 5% 1-18-year
(serial) school-building bonds voted June 12 (V. 88, p. 1636)
at 105.89-a basis of about 4.24%.
Essex County (P. 0. Salem), Mass.-Temporary Loan.On Aug. 16 the $100,000 notes mentioned in V. 89, p. 426,
*ere awarded to the Manufacturers' National Bank of Lynn
at 3.85% discount. Maturity $50,000 Dec. 25 1909 and
$50,000 Dec. 31 1909.
Fairbury, Livingston County, Ill.-Bond Sale.-On
Aug. 11 the $2,000 5% improvement bonds, proposals for
which were asked until Aug. 4, were sold to Herbert Powell
at par and accrued interest. A bid was also received from
T. S. 0. McDowell. The bonds mature $1,000 on May 1
in each of the years 1922 and 1923 and are described in
V. 89, p. 301.
Flint, Mich.-Bonds Voted.-An election held Aug. 18
resulted in favor of issuing street-paving and sewer bonds to
the amount of $82,700. The vote was 421 "for" to 217
"against" the sewer bonds and 335 "for" to 290 "against"
the street-paving bonds.
Floyd County (P. 0. Rome), Ga.-Bond Election Rescinded.-The election which was to have been held August 5
to vote on the question of issuing $200,000 road bonds
(V. 89, p. 59) was called off.
Follansbee, Brooke County, W. Va.-Bond Sale.-An
issue of $15,000 534% street-paving bonds was awarded on
Aug. 13 to the Citizens' Bank of Follansbee at par and
accrued interest.
Denomination $500. Date Sept. 1 1909. Interest annually in November. Maturity from one to ten years.
turity $2,000 biennially
check for 10% of amount of bid, payable to the Treasurer, is required.
No bonded debt at present. Floating debt, $30,000. Assessed valuation
1908, $2,247,831.
•
Greenwich, Fairfield County, Conn.-Bonds Not Sold.Up to Aug. 17 nd award had yet been made of the $600,000
4% gold coupon (with privilege of registration) bonds, proposals for which were advertised until July 20. See V. 88,
p. 1636, for a description of these securities.
Guttenburg, Hudson County, N. J.-Bond Sale.-The
People's Safe Deposit & Trust Co., offering tzar and accrued
interest, were the successful bidders on Aug. 16 for the
$151,000 5% funding bonds, a description of which was
given in V. 89, p. 302.
Bids were also received from the Weehawken Trust Co. of Weehawken
and Weil, Roth do Co. of Cincinnati. Maturity on July 1 as follows: $5,000
in each of the years 1914, 1919 and 1924 and $136,000 in 1939.
Hallettsville Independent School District(P. 0. Hallettsvile), Lavaca County, Tex.-Bond Offering.-Proposals will
be received until 6 p. m. Aug. 31 by T. Y. Hill, Secretary
of School Board, for the $18,000 5% school bonds voted
May. 20 (V. 88, p. 1455).
Denomination $500. Date June 1 1909. Interest annually beginning
March 1 1910 at the Chemical National Bank in New York City or at the
State Treasurer's office in Austin. Maturity 40 years, subject to call after
5 years. No debt at present. Assessed valuation 1908, $1,805,090.
Harris County (P. 0. Houston), Tex.-Vote.-We are
advised that the vote on the $500,000 43/9% 10-40-year
(optional) road bonds authorized at the election held Aug. 3
(V. 89, p. 426) was 1,162 "for" to 513 "against."
Hart Township (P. 0. Hart), Oceana County, Mich.Bond Offering.-Proposals will be received until 10 a. m.
Sept. 1 by W. H. McFarland, Township Clerk, for $8,000
5% bonds.
Denomination $1,000. Date Aug. 1 1909. Interest annually at the
Maturity $1,000
Oceana County Savings Bank. beginning March 1 1911.
yearly on March 1 from 1911 to 1918 inclusive. Certified check for $40.
payable to the Township Clerk, is required.
Hartshorne Pittsburg County, Okla.-Bond Offering.'be received until 8 p. m. Sept. 13 by I. D.
Proposals will
Patterson, City Clerk, for $80,000 water and $25,000 sewer
5% bonds.
Authority, Sections 10, 26 and 27, Article 10, Oklahoma Constitution,
and Section 374, Revised and Annotated Statutes of 1903. Denomination $1,000. Date Feb. 1 1909. Interest semi-annually at place designated by the purchaser. Maturity Feb. 1 1934. Certified check on a
national bank for 2 ,4% of bid Is required. This city has no debt at present.
Assessed valuation $635,918. Real valuation (estimated) $1,100,000.
Official circular states that there is no litigation pending or threatened
affecting the bonds;•also that no default has ever been made in the payment
of principal or interest.
Fredericktown, Knox County,Ohio.-Bond Offering.-ProHighland County (P. 0. Hillsboro), Ohio.-Bond Offering.
posals will be received until 12 m. Sept. 6 by Harry L. Rals-Proposals will be received until 12 m. Aug. 25 by the
ton, Village Clerk, for $1,200 4% street-opening bonds.
Authority, Section 2835, Revised Statutes. Denomination $400. County Auditor for $4,000 6% Marshall & McCoppin's Mill
Date Sept. 1 1909. Interest annual. Maturity $400 yearly on Sept. I Free Turnpike No. 97 bonds.
from 1912 to 1914 inclusive. Purchaser to pay accrued interest.
Sixth Edition.
Authority Section 4808. Revised Statutes, Bates Statutes,
Gadsden Ala.-Bond Sale.-This city recently disposed Date
Sept. 1 1909. Interest annually, beginning March 1 1910. Maturity
1 as follows:
$6,000" 6% street-improvement bonds to con- on March1910}$200
of "about'
in 19131$250 in 19161$300 in 1919 1 $350 in 1922
$225 in
tractors at par in payment for work done.
200 in 1911 225 in 1914 275 in 1917 325 in 1920 375 in 1923
250 in 1915 275 in 1918 350 in 1921 200 in 1924
Bonds to be Issued Shortly.-Our informant further writes 200 in 1912
Certified check for $250 is required. Purchased to pay accrued interest.
that the city will also sell $50,000 5% 30-year refunding
Hopedale, Harrison County, Ohio.-Bonds Awarded in
bonds next month.
sidewalk bonds described
Galveston County (P. 0. Galveston), Tex.-Bonds Regis- Part.-Of the $3,900 4% couponon
Aug. 16 to H. S. Allison
tered.-7-We are informed that the State Comptroller on in V. 89, p. 426, $1,900 were sold
. No
Aug. 13 registered $500,000 4% 10-40-year (optional) cause- of Hopedale for $1,907 (100.368) and accrued interest.
other:bids were received.
way-bridge bonds.
488
THE CHRONICLE
Hovland, Cook County, Minn.-Bond Sale.-On Aug. 7
the $10,000 6% coupon road and bridge-building bonds
described in V. 89, p. 302, were awarded to Crawford Livingston of St. Paul at par. Maturity $2,000 yearly from
1915 to 1919 inclusive.
Hutsonville Township (P. 0. Hutsonville), Crawford
County, Ill.-Bond Sale.-This township has awarded
$13,000 5% bonds to the First National Bank of Robinson
at par. We are advised that $6,500 of the bonds was awarded
in July and $6,500 on Aug. 18. Interest annually in July.
Maturity part each year from 1910 to 1914 inclusive.
Irwin County (P. 0. Ocilla), Ga.-Bond Election.-An
election will be held, it is stated, on Sept. 8 to vote on a
proposition to issue $45,000 court-house construction bonds.
Jefferson County School District No. 4, Mont.-Bond
Offering.-Proposals will be received until 12 m. Aug. 21
by Ike E. 0. Pace, District Clerk (P. 0. Whitehall), for a
$5,000 8% coupon school-building bond.
Date July 1 1909. Interest annually at the County Treasurer's
office in
Boulder. Maturity July 1 1920. Certified check or cash
for 10% of bid is
required. Bonded debt, including this issue, $29,000. No
floating debt.
Assessed valuation 1909, 8100,000.
Johnson City, Washington County,Tenn.-Bond
-An election will be held Sept. 11, it is reported,Election.
to vote
on a proposition to issue $375,000 municipal-water-systemconstruction bonds.
Johnson Creek, Jefferson County, Wis.-Bond Sale.An issue of $14,000 bonds has been disposed of to local
investors.
Jones County (P. 0. Anson), Tex.-Bond Election.-Reports state that it has been decided to hold an election Oct. 2
to vote on the question of issuing $100,000 5% court-house
bonds. Maturity 40 years, $50,000 being subject to call
after 20 years.
Kaufman, Kaufman County, Tex.-Bond Offering.E. E. Thompson, Mayor, is offering for sale $6,000 43/
9%
water-works bonds.
For,. Lxxxxx.
will be received until 8 p. m. Sept. 1 by E. T. Vallin, Clerk
Board of Education, for $15,000 6% coupon school-building
bonds.
Authority. Article XI., Chapter 135, Laws of 1907.
Denomination
$1,000. Date about Sept. 1 1909. Interest annually in Lemmon.
Maturity 20 years, subject to call after 5 years. Bonds are exempt
Certified check for $300, payable to the Clerk of the Board of from tax.
is required. Bonded debt, this issue. Floating debt, $3,500.Education,
Assessed
valuation 1909, $395,000.
Lewisville Independent School District (P. 0. Lewisville),
Denton County, Tex.-Bond Offering.-Proposals will be
received until 4 p. m. Sept. 4 by T. H. Jenkins, Secretary
Board of Education, for the $7,000 5% school-house bonds
registered by the State Comptroller(V.89, p. 303) on July 20.
Denomination $500. Date May 1 1909. Interest
in Austin or
New York City. Maturity May 11939, subject to callpayable
after May 11914.
Lexington, Henderson County, Tenn.-Bonds Proposed.We see it reported that the Board of Mayor and Aldermen
purposes to issue $10,000 street-graveling bonds.
Lincoln County (P. 0. Ivanhoe), Minn -Bond Offering.R. H. Sisson, County Auditor, will sell at public auction
at 10 a. In. August 24 $13,600 5% coupon drainage bonds. -
Authority, Chapter 230, Laws of 1905,
Chapter 448, Laws of 1907.
Denomination $1,000. Maturity 5, 7 andand
10 years from date. Certified
check for $100, payable to the County Auditor, is required.
Bonds are
exempt from taxes.
Lodi, Cal.-Bond Sale.-On Aug.14 the $50,000 sewer and
$76,000 water and light 5% 1-30-year (serial) bonds described
in V. 89, p. 241, were awarded to the First National Bank
of Lodi for $134,696 52 (106.902) and accrued interest. A
bid of $131,095 was also submitted by Jas. H. Adams &
Co. of Los Angeles.
London, Ohio.-Description of Bonds.-We are informed
that the $5,000 4% 5 1-3-year (average) street-improveme
bonds awarded on July 16 to the London Exchange Bank nt
of
London at 100.63 (V. 89, p. 241), are in denomination of
$250. Date July 16 1909. Interest March and September.
Los Angeles-San Pedro, Cal.-Consolidation.-An election held Aug. 12 resulted in favor of the consolidat
ion of
Denomination $500. Date April 1 1909. Interest semi-annual.
Ma- these cities.
turity 40 years. subject to call after 15 years.
Los
Olivas
School District, Santa Barbara County, Cal.Kent, King County, Wash.-Bond Offering.-Proposals
will be received by L. E. Price, City Clerk, for $70,000 5% Bond Offering.-According to reports, proposals will be received
until
Sept. 7 for $3,500 bonds.
water-works-extension bonds.
Authority, Section 4, Chapter 150, Laws of 1909. Denominatio
Lucas County (P. 0. Toledo), Ohio.-Bond Offering
n $500.
Interest in March and September. Certified check (or
cash) for M % of Proposals will
be received until 10 a. m. Sept. 4 by D. T.
amount of the bonds bid for is required. These bonds are payable only
out of
a special fund to be created by converting 75% of the gross receipts of
the Davies Jr., County Auditor, for the following 4
stone
entire water system into said fund. Bonded debt at present,
$23,000. and gravel road fund:
Assessed valuation 1908, $502,866.
$22,340
bonds.
Denominatio
n
$500,
except
one bond for $340. Maturity
King County School District No. 144, Wash.-Bond Offer$3,340 in 1011, $3,000 yearly from 1912 to 1916 inclusive
and
ing.-Proposals will be received until 11 a. m. Aug. 28 (date
$2,000 in each of the years 1917 and 1918.
6,890
bonds.
Denominatio
n $800, except one bond for $490. Maturity
changed from Aug. 23) by Matt H. Gormley, County Treas51,290 in 1911 and $800 yearly from 1912 to 1918 inclusive.
urer (P. 0. Seattle), for $16,000 coupon school-building and
Authority Chapter 94 Ohio Laws p.96 (Revised Statutes
4670-14 et seq.).
Interest semi-annually at the Count Treasurer's office.
site bonds at not exceeding 6% interest.
Certified check for
Authority, election held July 17 1909. Denomination $500. Interest
annually at the County Treasurer's office or at the fiscal agency of the
State
of Washington in New York City, at option of the purchaser. Maturity
10 years, subject to call after five years. Certified check or draft for 1%
of bonds, made payable to the County Treasurer, is required. Assessed
valuation for 1908, $1,282,468. The bonds will be ready for delivery
Sept. 10 1909.
Kings Mountain, Cleveland County, N. C.-Bonds Voted.
-It is stated that an election held Aug. 2 resulted in favor
of a proposition to issue $10,000 school-building bonds.
Kleburg School District (P. 0. Kleburg), Dallas County,
Texas.-Bonds Voted.-A proposition to issue 5% 20-year
school-building bonds carried unanimously at an election
held Aug. 14.
Knox, Stark County, Ind.-Bond Sale.-An issue of
$10,000 43/9% water-works bonds was recently awarded to
Breed & Harrison of Cincinnati at 101.50.
$500 on a bank in Toledo is required with bids for each issue.
be delivered pn Sept. 14. Purchaser to pay accrued interest. Bonds will
Lynchburg, Va.-Bids Rejected.-All bids submitted on
August 16 for the $400,000 4% 30-year coupon publicimprovement bonds described in V.89, p. 241, were rejected.
McMinnville, Yamhill County, Ore.-Bond Sale.-The
$30,000 electric-light and water-system bonds voted
on
June 14 (V. 88, p. 1637) were recently sold to A. B. Leach
SE Co. of Chicago.
Madison, Madison County, Fla.-Bond Offering.-Proposals will be received up to September 22 for the following
bonds voted on July 6 (V. 89, p. 179): $5,000 for waterworks; $15,000 for a dormitory and $25,000 for sewerage.
Bonded debt, at present, $7,700.
Rowe Is Mayor.
Assessed valuation $ 630,000.
R. H
Madison School District (P. 0. Madison), Morris County,
Denomination $500. Date July 30 1909. Interest semi-annual.
N. J.-Bond Offering.-Proposals will be received until 3 p.
turity part in each of the years 1914, 1916 and 1919 to 1926 inclusive. Mato-day (August 21) by C. W. Scarborough, District Clerk,
Lake County (P. 0. Painesville), Ohio.-Bond Offering.- for $58,000 4% coupon public-school-building
bonds.
Proposals will be received until 12 m. Sept. 8 by E. D. HartDenomination $1,000. Date August 1 1909. Interest
y
well-, County Auditor, for $30,000 5% coupon court-house at the First National Bank in Madison. Maturity $2,000semi-annuall
yearly from
1919 to 1947 inclusive. Bonds are exempt from taxation.
and jail refunding bonds.
Manilla Crawford County, Ia.-Bond Election.-An elecAuthority. Section 2834a, Revised Statutes. Denomination $500. Date
Sept. 1 1909. Interest semi-annually at the County Treasurer's office.
Maturity Sept. 11910. Certified check on a national bank in Ohio, payable tion will be held Aug. 30 to vote upon a proposition to issue
$5,000 4% water-tank bonds.
to the Auditor, for 2% of bonds bid for, Is required. The legality of
issue has been approved by Peck, Shaffer ec Peck of Cincinnati, a copythe
of
Marshville Graded School District (P. 0. Marshville),
whose opinion will be furnished to the purchaser. Accrued interest to be
paid by successful bidder.
Union County, N. 0.-Bonds Not Sold.-No satisfactory
Lakewood, Cuyahoga County, Ohio.-Bond Offering
bids were received on Aug. 18 for the $10,000 5% 20-year
Proposals will be received until 12 m. Sept. 8 by B. M. Cook, school bonds described in V. 89, p. 242.
Town Clerk, for the following 5% improvement-assessment
Mason County (P. 0. Mason), Tex.-Bond Sale.-On
bonds:
August 5 the State School Fund purchased the $40,000
$3,530 Hint Street water main bonds. Denomination $706. Maturity
5% 10-40-year(optional) registered court-house-construction
$706 yearly on Oct. 1 from 1910 to 1914 inclusive.
18,560 Ridgewood Ave. paving bonds. Denomination $1,856. Maturity
bonds described in V: 88, p. 1638, on a 43
4% basis. They
yearly
$1,856
on Oct. 1 from 1910 to 1919 inclusive.
3,301 Hilliard Ave. and Granger Street sidewalk bonds. Denomination were registered by the State Comptroller on July 23.
51,000, exeept one bond fOr $301. Maturity Oct. 1 1910.
Matteawan, Dutchess Co., N. Y.-Bond Offering PostDate, day of sale. Interest April 1 and Oct. 1 at the Cleveland Trust
Co. In Cleveland. Certified cheek for 5% of bid is required. Official notice poned.-The offering of the $30,000 registered paving bonds
states that the village has never defaulted in payment of any debt.
which was to have taken place July 23 (V. 89, p. 242) was
Lebanon School District No. 16, Linn County, Ore.---- postponed until next spring.
Bond Sale.-An issue of $19,000 5%10-20-year (optional)
Melissa Independent School District (P. 0. Melissa),
bonds was sold on August 7 to John H. Sonntag Sz Co. of
Chicago at par. Purchasers to furnish blank bonds and pay Collin 'County, Tex.-Bond Offering.-Proposals will be
their own legal expenses. Morris Bros. of Portland offered received until Aug. 25 for the $10,000 5% school-building
to take the securities at par providing the district furnished bonds voted (V. 88, p. 1638) during June.
Denomination $500. Date July 1 1909. Interest annual.
the blank bonds and allowed them $05 for legal fees. De- July
Maturity
1949, subject to call
nomination $1,000. Date Oct. 1 1O0. Interest semi- Board1 of School Trustees. after 15 years. W. N. Osburn is President
annual.
Memphis School District (P. 0. Memphis)
Letamon Independent School District No. 1 (P. 0. Lem- Sale.-The $500,000 43% coupon bonds , Tenn.-Bond
mon), Perkins County, S. D.-Bond Offering.-Proposals were rejected on June 26(V.89, p.61) have bids for which
been disposed of.
THE CHRONICLE
Aua. 21 1909.1
Memphis Independent School District (P. 0. Memphis),
Hall County, Tex.-Bonds Registered.-Bonds to the amount
of $8,000 were registered by the State Comptroller on Aug. 12.
They carry 5% interest and mature in 40 years, but are
subject to call after 20 years.
Merit Independent School District (P. 0. Merit), Hunt
County, Tex.-Bonds Registered.-The State 'Comptroller
registered $2,000 5% 10-20-year (optional) bonds on Aug. 9.
Millersburg, Holmes County, Ohio.-Bond Sale.-On
August 14 an issue of $8,250 4% street-improvement assessment bonds was awarded to the Farmers' & Merchants'
Bank of Millersburg at par. There were no other bidders.
489
Neligh, Antelope County, Neb.-Bond Sale.-Arrangements have been made with the State of Nebraska for the
disposal of $8,000 434% 5-20-year (optional) bonds at par.
Denomination $1,000. Date Sept. 1 1909. Interest semiannual.
New Bedford, Mass.-Bond Sale.-On August 16 Adams
& Co. of Boston purchased $10,581 83 4% municipal-loan
bonds at 101.031. Following are the bids:
101.0311Blodgett Merritt & Co., Bost.100.58
Adams & Co., Boston
R. L. Day & Co., Boston_ _ _ _100.78 1Blake Bros. & Co., Boston_ _100.45
Denomination $1,000. Date Aug. 1 1909. Interest semi-annual.
Maturity on August 1 as follows: $1,581 83 in 1910 and $1,000 yearly from
1911 to 1919 inclusive.
Newburg (P. 0. Cleveland), Cuyahoga Cctuity, Ohio.B nd Offering.-Proposals will be received until 12 m.
Sept. 18 (date changed from Sept. 5) by Joseph Moore,
Milwaukee, Wis.-Bond Sale.-The following 4% 1-20- City Auditor, for the following 43% assessment bonds:
Woodland Ave. bonds. Denomination $1,000.
year (serial) coupon bonds dated July 1 1909 have been $13,950 Ingersoll Road and for
$950. Maturity on October 1 as follows:
except one bond
sold: $45,000 for baths awarded to John E. De Wolf of
$1,950 in 1910, $1,000 yearly from 1911 to 1916 inclusive and
west
$2,000 yearly from 1917 to 1919 inclusive.
Milwaukee; $50,000 for south sewerage; $50,000 for
Road bonds. Denomination $1,000, except one bond
sewerage; $60,000 for parks; $245,000 for schools, $100,000 15,350 Buckeye
for $350. Maturity on October 1 as follows: $1,350 in 1910,
for viaducts and $100,000 for docking and dredging awarded
$1,000 yearly from 1911 to 1914 inclusive and $2,000 yearly from
1915 to 1919 inclusive.
to the Wm. R. Comptoii Bond & Mortgage Co. of St. Louis 33,600 Union
Ave. bonds. Denomination $1,000, except one bond for
and $50,000 for the fire-department sold to the Citizens' Trust
$600. Maturity on October 1 as follows: $2,600 in 1910, $3,000
issues
yearly
from
1911 to 1915 inclusive and $4,000 yearly from 1916
Co. of Milwaukee. The above includes the seven
to 1919 inclusive. .
bids for which were rejected on July 1. See V. 89, p. 61.
Date "day of sale". Interest April 1 and Oct. 1. Certified check for
Bonds Re-Awarded.-The City Comptroller informs us that 5% of bonds bid for, payable to the "City of Newburg", is required. Purto pay accrued interest.
chaser
-improvethe $375,000 4% 1-20-year (serial) coupon street
ment bonds awarded on May 20 to R. L. Day & Co. of
Newburgh, Orange County,N.Y.-Bond Sale.-On August
Boston (V. 88, p. 1387) have been re-awarded to the First 16 the three issues of 4% registered street-ia,ving and
National Bank of Milwaukee.
improvement bonds, aggregating $71,400, descri ed in
Miramonte School District, Cal.-Bond Sale.-James V. 89, p. 427, were awarded to the Newburgh Savings Bank
H. Adams & Co. of Los Angeles offering 103.384 were the of Newburgh at par and accrued interest. No other bids
buildinglbonds. were received.
successful bidders on July 26 for $5,000 4
New Hartford, Oneida County, N. Y.-Bond Election.Denomination $1,000. Date.July 261909. Interest annual. Maturity
1925 to 1929, Inclusive.
The Board of Village Trustees has ordered an election for
Mission Ridge Taxing District (P. 0. Chattanooga), Tenn. Aug. 27, at which the people will have the opportunity of
-Bonds Not Sold.-We are advised that the $25,000 6% voting for or against a proposition to issue $3,900 5-14-year
coupon water-works bonds offered on July 17 were not sold, (serial) Genesee Street improvement bonds.
the district having entered into a contract with the city
New Windsor School District No. 1 (P. 0. Newburgh),
water company to install and operate a plant.
Orange County, N. Y.-Bond Sale.-This district recently
Mohan, Ward County, No. Dak.-City Votes to Extend disposed of an issue of $21,000 building bonds to local
Debt Limit.-An election held July 31 resulted in favor of investors.
increasing the debt limit of the city to 8% of the assessed
Niagara Falls, N. Y.-Purchaser of Bonds.-The $300,000
valuation. Of 63 votes cast only one was against the propo- 4% gold registered series "A" water bonds ,the sale of which
sition. The Constitution provides for a limit of 5% and an was mentioned in V. 89, p. 427 were awarded to Isaac W.
additional 3% if approved by two-thirds of the voters. The Sherrill of Poughkeepsie at par and interest.
City Auditor advises us that as soon as the present valuation
Niles, Ohio.-Bond Sale.-On July 28 $7,000 5% publicis determined another election will be held on the question
building-site bonds were awarded to the Davies-Bertram Co.
of issuing bonds.
104.30.
Montgomery County (P. 0. Dayton), Ohio.-Bond Sale.- of Cincinnati at
Denomination $500. Date June 1 1909. Interest semi-annual. MaOn Aug. 19 the following issues of 43% coupon ditch bonds turity
$3,500 on June 1 in each of the years 1914 and 1915.
were awarded to Seasongood & Mayer of Cincinnati:
North Attlebor ugh, Bristol County, Mass.-Bond 0;fer$1,500 Rohrer Ditch bonds for $1,516, the price thus being 101.066. Dem. August 24 by
nomination, $200 except f ne b‘ nd I r $100. Maturity $2 0 yearly* ing.-Proposals will be received until 12
Treasurer, for the following 4%
Town
on Sept. 1 from 1910 to 1014 inclusive and $500 in 1915.
T.
Frank
Westcott,
De3,600 Bear Ditch bonds for $3,638, the price thus being 101.055.
$38,500:
nomination $600. Maturity $600 yearly on Sept. 1 from 1910 to coupon bonds, aggregating
and DecemDenomination $825. Date Aug. 14 1909. Interest in June
on Dec. 20 from
ber at the Village Treasurer's office. Maturity $825 yearly
inclusive.
1910 to 1919
1915 inclusive.
Authority. Section 4479, Revised Statutes. Date Sept. I 1909. Interest
semi-annually at tl e County Treasurer's office. A bid of $1,505 for
Rohrer Ditch and /3,608 for Bear Ditch bonds was also received from the
Dayton Savings Sc Trust Co. in Dayton.
Mt. Healthy, Hamilton County, Ohio.-Bond Offering.Further details are at hand relative to the offering on August
23 of the $33,000 4% coupon water-works bonds mentioned
in V. 89, p. 364. Proposals for these bonds will be received
until 12 m.on that day by Frank Williamson, Village Clerk.
$2,000 sidewalk bonds due Sept. 1 1911.
2,000 assessor plats bonds due Sept. 1 1911.
1,500 school-bullding bonds due Sept. 1 1915.
3,000 water bonds due $1,500 on Sept. 1 in each of the years 1915 and 1916.
30,000 school-house bonds due $2,000 yearly on Sept. 1 from 1910 to 1924
inclusive.
The above bonds are dated Sept. 1 1909. Interest semi-annually at the
City Trust Co. in Boston. The bonds will be ready for delivery Sept. 1
1909. They will be certified as to their genuineness by the City Trust Co.
of Boston, who will certify that in the opinion of Ropes, Gray ec Gorham,
these issues are valid obligations of the town.
North Platte School District (P. 0. North Platte), Lincoln
County, Neb.-Bond Sale.-On August 9 the $40,000 5%
10-20-year (optional) registered school-building bonds
described in V. 89, p. 365, were awarded to the Harris Trust
& Savings Bank of Chicago at 102.0625 and accrued interest.
The bids were as follows:
Offering.
-Bond
Y.
N.
Livingston
County,
Mount Morris,
Harris Trust & Sav. Bk.,Chic $40,825 I Geo. M. Bechtel & Co., Day$40,378
enport
-Proposals will be received until 8.30 p. in. August 24 by First Nat. Bk., No. Platte_ 40,448
A. Kean & Co., Chicago__ 40,420 J. H. Causey & Co., Denver_ 40,040
S.
watercoupon
$46,000
for
Clerk,
Village
J. Aubrey Striker,
Norwood School District (P. 0. Norwood), Hamilton
works bonds at not exceeding 43/2% interest.
Authority, Chapter 518, Laws of 1889. Denomination, $500. Date County, Ohio.-Bond Sale.-On July 22 the $125,000 4%
New
Sept. 1 1909. Interest semi-annually at the National Park Bank in
school-building bonds, bids for which were received on
York City. Maturity $2,000 yearly on Sept. 1 from 1914 to 1936, inclusive.
Bonds are exempt from taxation. Certified check for 1% of bid, payable July 20, were sold to the Western-German Bank of Cincinto William Mate, President, is required. No bonded debt at present. nati at 101.38 and accrued interest. They were delivered on
Floating debt, $2,000. Assessed valuation, $956,000.
July 24. The bonds mature part yearly on July 20 from
Mt. Pleasant, Maury County, Tenn.-Bond Offering.- 1919 to 1948 inclusive and are described in V. 89, p. 62. H.
W.
by
in.
8
p.
Sept.
8
Proposals will be reCeived until
Olean, Cattaraugus County, N. Y.-Bond Offering.-In
Long, Mayor, and the City Council, for from $40,000 to
to the.$40,000 4% 6-25-year (serial) coupon wateraddition
reare
bids
bonds.
Alternate
$65,000 432% water-works
to be offered on Sept. 1 (V. 89, p. 303), probonds
main
for
check
bonds.
Certified
ar
quested for 20-year and 30-ye
be received until 7:30 p. m. on that day by
also
will
posals
$2,000 is required.
Keenan, City Clerk, for $25,300 4% sewer bonds.
Chas.
Mt. Pleasant, Titus County, Tex.-Bonds Voted.-Of a
Date Oct. 1 1909. Denomination to suit purchaser. Interest semitotal of 74 votes cast at the election held August 10 only annual. Maturity 20 years. Certified check for $1,000 is required.
one was against the issuance of the 5% refunding and waterOmaha, Neb.-Bond Offering.-Proposals will be received
works-construction bonds mentioned in V. 89, p. 364. until 3 p. m. Sept. 7 by Frank . Furay, City Treasurer, for
The City Secretary writes us that the reason the proposition $50,000 43% coupon city-hall-renewal bonds.
to issue these bonds was re-submitted to a vote of the people
Denomination $1 000. Date Oct. 11909. Interest semi-annually at the
1 1929. Certified or
was because the notice of the first election was published fiscal agency In New York City. Maturity Oct.
cashier's check on a national bank for $1,000, payable to the "City of
instead of posted.
Omaha", is required. Official advertisement states there is no litigation
or pending affecting the validity of these bonds; also that there
Mount Vernon Independent School District (P. 0. Mount threatened
default in the payment of principal or interest.
,'Tex.-Bonds Awarded in Part.- has never been any
Vernon), Franklin County,
County, Ohio.-Bond Sale.-The three
Wayne
Orrville,
bonds
school
(optional)
30-40-year
Of the $15,000 5%
1-10-yea (serial) street-improvement
registered on June 25 (V. 89, p. 62) $6,750 was sold recently issues of 41A% and 5%
assessment bonds, aggregating $11,600, described in V. 89,
to Franklin County funds for $7,086, or 104.977.
p. 427, were sold on August 16 to the Citizens' National Bank
annual.
May 7 1909,
Authority, Sections 2835, 2835b, 2838 and 2837, Revis4d Statutes
Denomination $500. Date Aug. 1 1909. Interest semi-annually at the
are
First National Bank of Mt. He,,ithy. Maturity Aug. 1 1934. Bonds the
tax•exempt. Certified check for 10% of bonds bid for, payable to
"Village of Mt. Healthy," is required. Purchaser to pay accrued interest.
Bonded debt at pre;ent, $7,850. Assessed valuation for 1908, $433.990.
Denomination $375.
Date
Interest
490
THE CHRONICLE
tVoL. Lxxxix.
at 103.009 and accrued interest. The bids received were as
Prairieville Township (P. 0. Sleepy Eye), Minn.-Bonds
follows:
Not Sold.-None of the bids received on Aug. 16 for the.
Citizens' Nat. Bank
$11,949 15 Hayden, Miller &Co.,Clev.$11,854 00 $2,000
1-10-year (serial) coupon bridge bonds described in
Orrville Nat.Bk.,Orrville. 11,935 00 Otis & Hough, Cleveland..
11,799 00
Barto Scott & Co., Columb.11,892 00 Seasongood&Mayer,
Cin_ 11,779 13 V. 89, p. 428, were accepted.
Orwell Special School District (P. 0. Orwell), Ashtabula
Ralston, Pawnee County, Okla.-Bonds Not Sold.-The
County, Ohio.-Bond Sale.-An issue of $2,500 4% coupon
following bids, all of which were rejected, were received
on
school-building bonds was sold on July 22 to E. A. Sellers Aug. 12 for the $25,000 6% 25-year coupon
water and light
and F. W. Parker at par.
bonds described in V. 89, p. 365:
Denomination $500. Date, day of sale. Interest
and September in
Orwell. Maturity $500 yearly on Sept. 1 from March
1910 to 1914 inclusive.
Bonds are tax-exempt. Total debt, this issue. Assessed
valuation for
1909, $280,330.
S. A. Kean & Co., Chic_ _$25,275 00 Dallas Trust ec Say. Bank_$25,
127 50
Herman Russle, Denver__ 25,255 00 John Nuveen & Co., Chic_
24,250 00
The bonds are now being offered at private sale.
Ossining Union Free School District No. 1, N. "1.-Bond
Renville County (P. 0. Olivia), Minn.-Bond
Sale.-On Aug. 19 $40,000 19-26-year (serial) registere $30,000 10-year ditch-construction bonds describeSale.-The
d in V. 89,
d
school-remodeling bonds were awarded to Ferris &
p. 180, were sold on July 21 to the Wells & Dickey Co. of
of New York City at 100.1325 and accrued interest for White
Minneapo
lis
for
$31,000 (103.333) and accrued interest for 5s.
4.10s.
Bids were also received as follows:
Rockport (P. 0. West Park), Cuyahoga County, Ohio.For 4.15s.
For 4.2 Os.
Bond Sale.-The $4,000 cemetery and the $6,000 water
Spitzer & Co., N Y
100.94 W. N. Coler & Co., N. Y_ _100.42
coupon bonds offered without success on June 26 (V. 4%
Geo. M. Hahn, N. Y
100.87 Isaac W. Sherrill, Poughk_ _100.10
R. M. Grant & Co., N. Y.. __ _100.41 A. B. Leach & Co.,
p. 63) were awarded at private sale on July 17 to Otis89,
N. Y_ _ _100.040
N. W. Harris & Co., N. Y__ _100.27
&
For 4.25s.
Hough of Cleveland at par and accrued interest.
O'Connor & Kahler, N. Y_ _ _100.107 First National
Bank, Cleve_100.36
For 434s.
Rockwoo
d, Roane County, Tenn.-Bond Election ResJohn H. Watkins, N. Y.. _ _101.4425
cinded.-Reports state that the Board of Mayor and AlderFarson, Son & Co
100.714
Bonds are dated Aug. 1 1909. Interest semi-annua
l.
men has called off the election which was to have taken
place
Otsego County (P. 0. Cooperstown), N. Y.-Bonds Not to-day (Aug. 21) to vote
on the question of issuing
Sold.-We are advised under date cif Aug. 17 that no award
$12,000 5% 20-year school-building bonds mentioned the
in
has yet been made of the $60,000 4% 10-15-year (serial) V. 89, p. 428. It was
found that there has been no city
coupon funding highway-improvement bonds offered
registrat
ion
for
four
years. It is further reported that
on
July 20 and described in V. 89, p. 180.
1904 the county books have been used, while the lawsince
reOzark, Mo.-Bond Sale.-This city has sold $3,500 bonds. quires that towns of 2,000 population or more must
hold
separate
registrat
ions.
Petersburg, Lincoln County, Tenn.-Bond Offering.Proposals will be received until Sept. 1 for $4,000 6%
Rocky River, Cuyahoga County, Ohio.-Bond Offering.
5-15- Proposal
year (optional) coupon school bonds unanimously voted
s will be received until 12 m. Aug.
on
Bassett, Village Clerk, for $6,500 4% coupon 26 by R. W.
May 27 1909.
Center Ridge
Road improvement bonds.
Denomination $100. Date Sept. 1 1909. Interest annually
in Petersburg.
Total debt, this issue.
Assessed valuation 1909 $106,620.
Philadelphia, Pa.-Bond Sale.-For the $7,239,700 4%
30-year bonds offered on Tuesday (August 17) the city
received a total premium of $183,062 86, making the
price 102.528. This is on a basis of about 3.8574%average
.
sale of $1,500,000 30-year 4s in January was on a basisThe
of
about 3.785%. We give below a list of the bids received
the asterisk (*) designates the ones which were successful.
Authority, Section 2835, Revised
Date Aug. 1 1909. Interest on April 1 Statutes. Denomination $500.
Oct. 1 at the Rocky River
Savings Bank. Maturity $500 yearly on and
April 1 from 1913 to 1925 inclu.
sive. Certified check for $200, payable to the
Treasurer, is requiredAccrued interest to be paid by purchaser.
Rowena Independent School District (P. 0. Rowena)
,
Runnels County, Tex.-Bond Ofiering.-Propos
als
received until 2 p. m. August 28 by G. Schulemann,will be
Secretary Board of Education, for $7,000 5% school-building
bonds.
City Sinking Fund Commission-•$400,000 at 103.625.
Graham -a, Co., Philadelphia-*$50,000 at 103.25, •$50,000
Denomination $500. Maturity forty years, subject to
at 103,
$150,000 at 102.
call, however,
$2,000 in 10 years, $2,000 in 20 years and
$3,000 in 30 years. Certified
Henry & West, Philadelphia-*$50,000 at 103.25, •$100,000 at
check for $250 is required.
102.75,
$100,000 at 102.
R. L. Day & Co., New York-'$200,000 at 103.091, *$200,000 at
Sagamore Independent School District No, 96, Tex.
102.891,
*$200,000 at 102.651, $200,000 at 102.391, $200,000 at 102.159.
Bonds Registered.-An issue of $7,000 5% 20-40-year
Columbia Ave. Trust Co.-*$50,000 at 102.50.
(optional)
Drexel & Co. and Brown Bros. & Co.-102.399 for all or any
bonds
of this district was registered by the State
part",
*$5,939,700 awarded.
Comptroller on Aug. 13.
Rhoades & Co. and R. W. Presprich, New York. and 5. A. Hutchinso
n,
Boston-101.2597 for "all or none".
St. Clairsville, Belmont County, Ohio.-Bond
Central Trust & Savings Co.-102 for $50,000.
Offering.H. F. Bachman & Co., Philadelphia-$500,000 lots-101.875, 101.86, Proposals were asked for until 12 in. yesterday (Aug.
20)
101.845, 101.83, 101.815, 101.80, 101.785, 101.77, 101.755.
by Owen B. Nary, Village Clerk, for $8,500 43.%
coupon
J. & W. Seligman & Co. and Moffat & White, New York-$1,500,0
00 street-improvement (village's portion)
at 101.11.
bonds.
Denomination $500. Date Aug. 20 1909.
John Bothwell, $5,000 at $101 50.
Interest semi-annually at
the Village Treasurer's office. Maturity $500
William E. Cable Jr., New York-$1,500,000 at 101.433.
six months from Feb. 20
191010 Feb. 20 1918 inclusive. Purchaser to each
pay accrued interest. Bonds
Pleasant Ridge School District (P. 0. Pleasant Ridge), will be delivered within 10 days from the time
of award. The result of
Hamilton County, Ohio.-Bond Sale.-On Aug. 17 the this offering was not known to us at the hour of going
to press.
.
St. Francis Levee District, Clay County, Ark.
$20,000 43-% 20-year coupon high-school bonds described
in V. 89, p. 365, were awarded to the Atlas National Bank in Sale.-Arrangements have been made for the sale -Bond
of the
Cincinnati at 107 and accrued interest. The bids were as $325,000 20-40-year repair and $40,000 30-40-year
refunding
follows:
5% coupon bonds bids for which were rejected (V. 89, p. 63)
Atlas National Bank, Cin_$21,400 00 Otis & Hough, Cleveland_
00 on June 17.
First Nat. Bank, Cleve_ __ 21,174 00 Fifth-Third Nat. Bk.,Cin.$21,010
21,007
Well, Roth & Co., Cin_
21,168 00 Seasongood & Mayer, Cin_ 20,876 50
St. Louis, Mo.-Bond Offering.-Attention is called to the
00
W. R. Todd & Co., Cin_ __ 21,111 00
Port Clinton, Ohio.-Bond Sale.-The Toledo Fire & Ma- official advertisement elsewhere in this Department of the
rine Insurance Co. of Sandusky has purchased $4,000 5% offering on Sept. 17 of the $4,700,000 4% 20-year gold
sewer bonds, proposals for which were asked until July 26. coupon public-buildings and public-improvement bonds.
The price paid was $4,155 50, or 103.887. Denomination The issues are as follows: $3,000,000 for a municipa
l bridge'
$400. Date July 15 1909. Interest semi-annual.
$100,000 for the fire-department, $600,000 for bridges and
Portland, Ore.-Bond Sale.-An issue of $158,000 6%
improvement bonds was disposed of on August 9 as viaducts and $1,000,000 for public sewers. Bids are to be
follows: $75,000 to Superintendent Dodge, for the Water made on blanks furnished by the City Comptroller. The
Department, $50,000 at 103.50 and $25,000 at 103, and $83,- securities will be delivered Oct. 1 1909. For further details
000 to A. H. Maegley at 103.
of bonds and terms of offering see V. 89, p.' 366.
Port of Portland (P. 0. Portland), Ore.-Bond Sale.-On
San Diego County (P. 0. San Diego), Cal.
Aug. 12 the $60,000 6% gold bonds described in V. 89, p. are informed that the vote cast at the election -Vote.----We
held Aug. 3,
365, were awarded to W. F. White of Portland as follows: which resulted in favor of the proposition to
issue the
$50,000 due July 1 1910 at 101.25 and $10,000 due July 1 $1,250,00043,
6% highway-construction bonds(V.89, p. 428),
1911 at 102.50. Purchaser to pay accrued interest. The was 5,805 "for' to 1,367 "against." Maturity
part yearly
following bids were received:
from 1 to 40 years inclusive. Date of offering not
W.F. White.Portland
yet
al01.25 A. B. Leach & Co., Chicago_ _c100.14 determined.
6102.50 E. H. Rollins & Sons, Denv_c100.064
Henry Teal, Portland
a100.5a Hibernia Say. Bk., Portiandal00.50
Sandpoin
t,
County,
Idaho.
Bonner
-Bond Sale.
b101.51 P..L Willis, Portland
al00.25
Security Savings Bank & Tr.
August 9 the four issues of 10-20-year (optional) -On
coupon
Co., Toledo
c100.37 2-3
bonds,
aggregat
describe
$82,000,
in
ing
d
V. 89, p. 304, were
a For $50,000 1-year bonds. is For $10,000 2-year bonds. c For $60,000
awarded to the Fidelity Trust Co. of Sandpoint for
1-year and 2-year bonds.
$82,825
Port of Suislaw (P. 0. Florence), Lane County, Ore.- (101.006) and accrued interest for 6s. A bid of $83,601
Bond Sale.-An issue of $100,000 5% 10-20-year (serial) was also received from John Nuveen & Co. of Chicago. The
harbor-improvement bonds was awarded on August 5 to bonds are dated Aug. 9 1909.
Morris Bros. of Portland at par.
San Joaquin County (P. 0. Stockton), Cal.
Denomination $1,000. Date July 1 1909. Interest semi-annual.
The following bids were received for the $290,000-Bids.
5% gold
Portsmouth, Scioto County, Ohio.-Bond Sale.-On Aug. coupon highway bonds, awarded on August
3
to
E. H.
17 the $10,000 4% 14-year coupon street-extension
Rollins & Sons of San Francisco (V. 89, p. 428.)
bonds E.
H. Rollins & Sons,SanFr.$328,512 J. H. Adams&Co.,San
described in V. 89, p. 365, were awarded to the Atlas
Fran
Na$324,350
W.
Halsey & Co.,San Fr. 327,410 Barroll & Co., Los Angeles__
N.
tional Bank of Cincinnati at 101.09 and accrued interest. P.
321,500
B. Fraser
325,650 W.R.Staats&Co., Los Ang. 321,233
The bids were as follows:
Scranton
School
District
(P. 0. Scranton), Pa.-Bonds
Atlas Nat. Bank, Cincin_ _$10,109 00
Savings Bank 63
Brighton-German Bk., Cin. 10,051 25 Security
Trust Co., Portsmouth_$10,020 00 Authorized.-The Board of Education has passed a resolution
Filth-Third Nat. Bk.. Cin_ 10,027 50 Otis & Hough,
Cleveland_ 10,011 00 providing for the issuance of $250,000
school-building bonds.
THE CHRONICLE
AUG. 21 1909.
Scurry County Common School District No. 6, Tex.Bonds Registered.-On Aug. 10 $1,400 5% 10-40-year (optional) bonds were registered by the State Comptroller.
Shephard, Isabella County, Mich.-Bond Sale.-The
$7,000 5% coupon water and light bonds (two issues) offered
on July 19 (V. 89, p. 64) were awarded, we are informed,
to the Union Trust Co. of Detroit. The price paid was
$7,075 (101.071) and accrued interest. Bonds to be delivered as funds are needed and purchaser to furnish bond
blanks. Maturity $500 yearly on Aug. 1 from 1913 to
1926 inclusive.
Solano County (P. 0. Fairfield), Cal.-Bond Election-An
election will be held Sept. 18 to vote upon propositions to
issue $250,000 court-house and $50,000 branch county jail
5% bonds.
South Newburgh (P. 0. Cleveland), Cuyahoga County, 0.
-Bond Offering.-Proposals will be received until 12 m.
Aug. 27 by H. H. Bohning, Village Clerk, for $5,000 5%
coupon Warner Road improvement bonds.
Denomination $1,000. Date May 15 1909. Interest semi-annually at
the South Cleveland Banking Co., in Cleveland. Maturity part yearly on
May 15 from 1911 to 1915, inclusive. Certified check for 5% of amount
bid, payable to the Village Treasurer, is required. Bonds are exempt from
taxation. Bonded debt, including this issue, $25,000. No floating debt.
Assessed valuation $725.000.
Spartanburg County (P. 0. Spartanburg), S. 0.-Bond
Election.-An election has been called for Aug. 24 to vote
on the question of issuing $400,000 road-building bonds
bearing interest at not exceeding 43/2% and maturing in not
more than 20 years.
Steubenville, Jefferson County, Ohio.-Bond Sale.-The
National Exchange Bank of Steubenville was the successful
bidder on Aug. 17 for the four issues of 41A% bonds aggregating $52,000 described in V. 89, p. 428. Following are
the bids:
$15,000
bonds.
Nat. Exch. Bank, Steubenv_$15,112 00
Seasongood & Mayer, Cin
Breed & Harrison, Cin
15,030 00
Dayton Say. & Tr. Co., Day. 15,007 50
Western-German Bank, Ctn.. 15,006 40
Cleveland Trust Co., Cleve.._ 15,004 50
Well, Roth & Co., Cin
15,001 00
$11,000
$14,000
$12,000]
bonds.
bonds.
bonds.
$11,082 00 *14,105 00 $12,472 00
12,453 60
11,022 00 14,028 00
11,005 50 14,007 00 12,006-00
11,001 60 14,004 80 12,003 20
11,003 50 14,002 00 12,000 00
11,001 00 14,001 00 12,001 00
491
Sullivan County (P. 0. Blountville), Tenn.-Bond Offering.-Proposals will be received until 4 p. m. Sept. 2 for the
$200,000 434% coupon road-building bonds described in
V. 89, p. 181.
Authority, Chapter 169, Laws of 1909. Denomination $1,000. Date
Aug. 2 1909. Interest semi-annually at the First National Bank in Bristol
or at such bank in New York or Chicago as purchaser may request, if sold
in one block. Maturity $100,000 on Aug. 1 in each of the years 1929 and
1939. Each bidder must deposit 3% of bid in the First National Bank of
Bristol.
Superior, Wis.-Bond Offering.-Proposals will be received until 12 m. Sept. 7 by John Erichson, City Comptroller, for $125,000 4% gold coupon high-school building
bonds.
Authority, Section 93, City Charter; also Sections 926-11, 942 and 943.
General Statutes. Denominations $1,000 and $500. Date Sept. 1 1909.
Interest semi-annually at the City Treasurer's office. Maturity Sept. 1
1929. Certified check for 1% of bonds bid for is required. The bonds
will be delivered within 10 days from the time of award.
Swanton, Franklin County, Vt.-Bonds Not Sold.-Up
to August 14 no award had yet been made of the $95,000
4% coupon funding water bonds, proposals for which were
advertised until July 28. See V. 89, p. 244. We are
informed, however, that bids at par and accrued interest
have been received for a "considerable portion of the issue"
and it is expected that the total issue will be disposed of at
this price.
Tarboro School District (P. 0. Tarboro), Edgecombe
County, N. 0.-Bonds Not Sold.-This district did not receive any satisfactory bids on Aug. 16 for the $35,000 4%
30-year coupon school-building bonds described in V. 89,
p. 429.
Teague, Tex.-Bonds Registered.-The State Comptroller
on Aug. 11 registered $7,500 5% 5-40-year (optional)
water-works bonds.
Teton County (P. 0. Choteau), Mont.-Bond Sale.-On
August 9 the $60,000 432% 15-20-year (optional) gold
coupon refunding bonds described in V. 89, p. 244, were
awarded to the Citizens' State Bank of Choteau at 100.25
and accrued interest. Purchaser to furnish blank bonds.
Tonganoxie School District (P. 0. Tonganoxie), Leavenworth County, Kansas.-Bond Sale.-An issue of $10,000
bonds has been purchased by the State Bond Commission for
the;School Fund.
NEW LOANS.
NEW LOANS.
$500,000
$4,700,000
CITY OF ST. LOUIS
Public Buildings and Public Improvement
4% TWENTY-YEAR GOLD BONDS
ST. LOUIS, August 16, 1909.
By virtue of Ordinance No. 22,674, the undersigned are authorized to issue and sell for the City
of St. Louis four million seven hundred thousand dollars ($4,700,000) of St. Louis Public Buildings
and Public Improvement Bonds, and sealed proposals for the 'purchase of said bonds, issued for the
following purposes, and hereinafter described, will be received at the Mayor's Office in the City of
St. Louis, until 12:00 o'clock noon, of the 17th day of September, 1909, and publicly opened by the
undersigned at said place and hour:
MUNICIPAL BRIDGE,and purchase of land for approaches
$3,000,000 00
(Engine Houses and Lots)
FIRE DE,PARTMNT
E
100,000 00
BRIDGES AND VIADUCT and purchase of land
600,000 00
PUBLIC SEWERS and purchase of land
1,000,000 00
Total
$4,700,000 00
Said bonds will be dated October 1st. 1909, and will each be of the denomination of $1,000 United
States Gold Coln, payable twenty (20) years after their date, and will bear interest from their date
at the rate of four (4) per cent per annum. Semi-annual interest coupons, payable on the 1st day of
April and October, respectively, will be attached to each bond, and both bonds and coupons will be
payable to bearer, as he may elect, either at the National Bank of Commerce, in New York, in United
States Gold Coin, or at the National Bank of Scotland, Limited, 37 Nicholas Lane, London, England,
in pounds Sterling, at the rate of four dollars, eighty-six cents, six and one-half mills ($4.8665) per
pound Sterling. The bonds will contain the condition that in payment of principal and interest.
the United States Gold Dollar and the Pound Sterling will be calculated at the present standard of
weight and fineness. The bonds may be exchanged for registered bonds at any time.
Bidders are requested to state in their proposals the price offered per bond, the par and premium
to be stated as one amount.
No bid will be considered that is not made on blank furnished by the Comptroller.
Proposals must be accompanied by a cashier's or certified check, payable to the order of the
Comptroller (and subject to his approval) equal to five (5) per cent of the nominal amount of the bonds
bid for; said deposit to be returned immediately if the proposal is not accepted, otherwise to be retained by the City as liquidated damages in event of failure on the part of the bidder to comply with
his proposal, or, in case of compliance, to be retained as part of the purchase money. A deposit in the
required amount to the credit of the City of St. Louis, in the National Bank of Commerce, in New
York, on or before Thursday, September 16th, 1909, will be accepted as full compliance with the requirements relating to deposits. No interest will be allowed on earnest money deposited.
Proposals will be subject to all the conditions and reservations of this advertisement, and must
refer to same as a portion of the agreement on the part of the bidder.
Proposals should be enclosed and addressed to the undersigned and endorsed "Proposal for Purchase of St. Louis City Bonds.'
The undersigned reserve the right to reject any or all bids.
The Bonds will be delivered against payment therefor in current funds, at the office of the Comptroller in the City of St. Louis, or, if the bidder so elects in his proposal, at the National Bank.„of
Commerce in New York, on the 1st day of October, 1909.
The opinion of Messrs. Dillon & Hubbard, Attorneys and Counselors at Law, New York City.
as to the validity of the bonds, will be furnished the successful bidders by the City.
Algid
A sample bond can be seen and further information obtained at the office of the Comptroller.t.
FREDERICK H. KREISMANN, Mayor.
B. J. TAUSSIG, Comptroller.
CITY OF SPOKANE
25-Year 4%
Water Extension Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane. Washington, at the office of the City Comptroller of
said city, up to 11 o'clock a. m. of the 15th day of
September. 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by said city for the purpose of paying off outstanding warrants issued
against the Water Extension Fund and constructlpg a force main to be used in the general water
system, and bear date of July 1, 1909, payable
25 years after said date, and bear interest at the
rate of 4% annually, payable semi-annually
at the fiscal agency of the State of Washington in
New York City.
Said Commission reserves the right to reject any
and all bids, and each offer must be accompanied
with a certified check for 2% of the amount of
the bid, and must be for at least par and accrued
interest.
ROBERT FAIRLEY.
City Comptroller.
New Mexico Bonds-Holders'Notice
PROVISIONAL INDEBTEDNESS BONDS
Dated September 1, 1889
Notice is hereby given to the holders of the
following-described bonds that all of the same
have been and are hereby called for redemption
on September 1, 1909, and will be cashed and redeemed on presentation thereof at the National
Bank of Commerce, New York City, such bonds
being:
$93,000 00 6% (being all outstanding) Provisional
Indebtedness Bonds, dated September 1, 1889, due September 1.
1919, optional Spetember 1, 1909,
same being numbers 1 to 60 and
68 to 100 (inclusive in each case),
of $1,000 00 each.
All such bonds cease to draw interest from and
after September 1, 1909.
Dated at Santa Fe, New Mexico. July 31st.1909.
M. A. OTERO,
Treasurer of the Territory of New Mexico.
Approved:-GEORGE CURRY.
Governor of the Territory of New Mexico.
Charles M. Smith & Co.
H. C. Speer & Sons Co. JOHN H. WATKINS
CORPORATION AND
OFFER
OKLAHOMA SCHOOL BONDS
to net 5% to 55i%
MUNICIPAL
AND
RAILROAD BONDS
First National Bank Bldg., Chicago No. 2 WALL STREET
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
NEW YORE
THE CHRONICLE
492
[VOL. Lxxxxx.
Warren County (P. 0. Warrensburg), N. Y.-Bond Offering.-Proposals will be received until Aug. 20 for a $25,000
5% bond. Principal and interest are due Feb. 10 1910.
L. E. Reoux is County Treasurer.
Waterloo, Seneca County, N. Y.-Bond Offering.-Proposals will be received until 1 p. in. Sept. 4 by John Kropf,
Village President, for $100,000 sewer bonds. Authority,
vote of 276 to 37 at election held Aug. 17.
Wellington, Lorain County, Ohio.-Bond Sale.-On Aug.
16 the $2,500 5% water-main-extension bonds, described in
V. 89, p. 430, were purchased by Hayden, Miller kir Co. of
Cleveland at 101.60 and accrued interest. Maturity $1,000
on Sept. 15 in each of the years 1911 and 1912 and $500 on
Sept. 15 1913.
Wells & Dickey Co., Minn_$7,181 00 Union Investment Co.,
Minneapolis
Kane & Co., Minneapolis__ 7,086 961
$7,055 00
Westerville, Franklin County, Ohio.-Bond Offering.Tymochtee Township, Wyandot County, Ohio.-Bond Proposals will be received until 12 m. Aug. 25 by Elsworth
Sale.-The $8,500 5% c oupon road-improvement bonds Horlocker, Village Clerk, for $9,000 437
0 Walnut St.
offered on July 29 and d escribed in V. 89, p. 244, were improvement assessment bonds.
. awarded to Herman Herr of Upper Sandusky.
Denomination $1,000. Date Aug. 15 1909. Interest semi-annual.
Trenton, Gibson County, Tenn.-Bonds Voted-Bond
Offering.-The election held Aug. 3 (V. 89, P. 305) resulted
in favor of the propositions to issue $20,000 sewer and
$20,000 street 5% 5-30-year (optional) bonds. The vote
was as follows: Sewer bonds, 135 "for" to 4 "against."
Street graveling bonds, 120 "for" to 9 "against." Bids for
these bonds will be received at once.
Tyler, Lincoln County, Minn.-Bond Sale.-On Aug. 10
the $7,000 20-year coupon electric-light-plant bonds described in V. 89, p. 366, were bought by the Wells ez; Dickey
Co. of Minneapolis at 102.585 and accrued interest for 5s.
This is on an interest basis of about 4.798%. A list of the
bidders follows:
Maturity on June 1 as follows: $2,000 in each of the years 1911, 1912
and 1913 and $2,500 in 1914.
Maturity $1,000 yearly on Oct. 1 from 1911 to 1919 inclusive. An unconditional certified check (or cash) for 5% of bid, on some Franklin County
bank, payable to Elsworth Horlocker, Clerk, is required. Purchaser to
pay accrued interest.
Venango County (P. 0. Franklin), Pa.-Bond Offering.Proposals will be received until Aug. 28 by the County ComWest Union, Adams County, Ohio.-Bond Offering.-Promissioners, E. K. Smiley, Clerk, for the $85,000 4% coupon posals will be received until 12 m. Aug. 29 by J. E. Cross,
bridge-building bonds mentioned in V. 89, p. 429.
Village Clerk, for $1,500 4% street and sidewalk improveDenomination $500. Date Sept. 1 1909. Interest semi-annually at the ment bonds.
Treasurer's office. Maturity $17,000 yearly on
March 1 from 1915
County
to 1919 inclusive. Certified check for $1,000, payable to the County Commissioners, is required. Bonds are exempt from State taxes.
Authority Section 2835, Revised Statutes. Denomination $100. Date
Sept. 1 1909. Interest annual. Maturity $100 yearly on March 1 from
1911 to 1925, inclusive. Certified check for 25% of amount of bonds bid for.
payable to the Village Treasurer, is required.
Venus Independent School District (P. 0. Venus), Tex.Westwood School District (P. 0. Westwood), Bergen
Bond Sale.-The $20,000 5% 20-30-year (optional) school
bonds offered on July 31 and described in V. 89, p. 244, have County, N. J.-Bond Offering.-Proposals will be received
been disposed of to A. J. Hood & Co. of Detroit at 102.05- until 8 p. m. Aug. 24 by James E. Ackerman, District Clerk,
a basis of about 4.84% to the optional date and about 4.87% for $23,000 5% coupon school-addition bonds.
Denomination $500. Interest March 15 and Sept. 15 at the First National
to full maturity. The bonds were registered by the State
Bank of Westwood. Maturity $500 yearly from 1910 to 1914 inclusive
Comptroller on July 24.
$1,000 yearly from 1915 to 1917 inclusive, $1,500 yearly from 1918 to 1920
$2,000 yearly from 1921 to 1924 inclusive and $2,500 in each of
' Walterboro, Colleton County, So. Car.-Bond Offering.- inclusive,
the years 1925 and 1926. Bonds are exempt from taxation. Certified
Proposals will be received until 8:30 p. m. August 25 by check for 5% of bid, payable to the Board of Education, is required.
Bonded debt, including this Issue, $46,600; no floating debt. Assessed
E. L. Fishburne, Mayor, for the $20,000 5% 10-year coupon valuation
1909, $1,337,587.
school-building bonds voted on July 23 (V. 89, p. 367.)
Whitney Independent School District (P. 0. Whitney),
Denomination $500. Interest semi-annual. Certified check (or cash)
Hill County, Tex.-Bonds Registered,-An issue of 5% 10-40for 5% of amount bid is required.
NEW LOANS.
NEW LOANS.
NEW LOANS.
$50,000
$419.420 60
$500,000
of Ottawa, Ontario,
Essex County, New Jersey, CityDEBENTURES
FOR SALE
PARK BONDS.
The Board of Chosen Freeholders of the County
of Essex, New Jersey, invites proposals for the
purchase of $50,000 ESSEX COUNTY PARK
BONDS,in denomination of $1,000 each, interest
coupons at 4 per cent per annum, payable Aug. 1
and Feb. 1, principal and interest payable in
gold. Bonds payable Aug. 1, 1949.
The bonds will bear interest from Aug. 1, 1909,
and the purchaser must pay interest accrued to
date of delivery.
Sealed proposals will be received by the Finance
Committee of the Board of Chosen Freeholders,
at a meeting to be held by said Committee, at
the Freeholders' room in the Court House, at
Newark, N. J., on WEDNESDAY, AUGUST 25,
1909, at 2 o'clock p. m., which meeting will
remain open for the reception of proposals until
2:30 p. m. Each proposal shall state the amount
of bid in words and figures, and must be accompanied by certified checks for $500, which will
be applicable on account of purchase money of
bonds, and forfeited by successful bidder who
afterwards falls to take the bonds. Copies of
proceedings will be furnished to successful bidders,
but proposals must be unconditional.
The Finance Committee reserves the right to
reject any and all proposals, if, in its judgment, the
interest of the County requires such action. The
bonds will be engraved under the supervision of,
and certified as to their genuineness by. the
United States Mortgage & Trust Company of New
York City, and will be ready for delivery on
August 27th, 1909. By order of
FINANCE COMMITTEE,
AMOS W. HARRISON, Chairman.
Tenders addressed to "The Chairman, Board
of Control." and marked "Tenders for Debentures," will be received by the Corporation of the
City of Ottawa until 12 o'clock noon, on THURSDAY, THE 2D SEPTEMBER, 1909, for the
purchase of $98,000 00 40-year debentures,
$159,000 00 30 years and $162,420 60 20 years.
The debentures are all a liability of the City
at large, are all dated 1st July, 1909, and bear
4% interest, payable 1st January and 1st July.
All tenders must be on the official form, accompanied with a marked cheque for $5,000.00.
Accrued interest must be paid in addition to the
price tendered.
Bonds will be made payable in Ottawa. New
York and London, at the option of purchaser:
and in denominations to suit.
Delivery will be made at Ottawa within one
month it required.
The highest or any tender not necessarily accepted.
Full particulars, together with further conditions and official form of tender can be obtained
on application to the City Treasurer, Ottawa.
Ottawa, 6th July. 1909.
(Sgd.) CHAS. HOPEWELL,
Mayor.
26-Year 4%
Bridge Construction 86 Repair Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Washington, at the office of the City Comptroller, of
said city, up to 11 O'clock A. M. of the 15th Day
September, 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by the said city to pay
for the construction and repair of bridges across
the Spokane River, and bear date of July 1, 1909,
and payable 25 years after said date, and draw
interest at the rate of 4% annually, payable semiannually at the fiscal agency of the State of
Washington in New York City.
Said Commission reserves the right to reject
any and all bids, and each offer must be accompanied by a certified cehck for 2% of the amount
of the bid, and must be for at least par and
accrued interest.
ROBERT FAIRLEY,
City Comptroller.
BLACKSTAFF &
INVESTMENTS
FOJ1EUSp & CO.
1332 Walnut Street
PHILADELPHIA
BANKERS
Municipal Bonds
421 CHESTNUT ST.,
HUNT, SALTONSTALL & CO.,
CITY OF SPOKANE
PHILADELPHIA, PA,
LIST OF SPECIALTIES ON REQUEST
WEBB & CO„
Perry, Coffin & Burr,
INVESTMENT SECURITIES,
Investment Securities
ENVESTMEN T BONDS
74 BROADWAY, NEW YORK
60 STATE STREET
BOSTON
60 State Street,
CANADIAN
WE OWN AND OFFER
Members Now York Stock Exchange
MUNICIPAL BONDS
BOSTON.
MUNICIPAL BONDS
Tax Exempt Anywhere In the United States
Write for Particulars
W. A. MACKENZIE & CO., ULEN SUTHERLIN & CO.
TORONTO. CANADA
617 First Nat. Bank Bldg, CHI CAGO, ILL,
McCOY
& COMPANY
Formerly MacDonald. McCoy
& Co.
Municipal and
Corporation Bonds
181 La Salle Street, - Chicago
B. W. Strassburger
3OUTHERN IMESTMENT €ECURITIE8.
MONTGOMERY, ALA.
AUG. 21 1909..1
THE CHRONICLE
year (optional) bonds amounting to $5,500 was registered
on Aug. 10 by the State Comptroller.
Wilbur, Lincoln County, Wash.—Bonds Not Sold.—This
city did not award the $4,100 water-main-purchase bonds,
proposals for which were asked until Aug. 7. See V. 89,
p. 367, for a description of these securities.
Willimantic, Windham County, Conn.—Bond Sale.—On
Aug. 16 E. H. Rollins ..4c Sons of Boston were awarded the
$100,000 4% 25-year coupon funding bonds described in
V. 89, p. 430, at 100.1775 and accrued interest. A list of
the bidders follows:
E. H. Rollins & Sons, Bog_ _100.17751Blodget, Merritt & Co., Bos_ _98.66
R. L. Day & Co., Boston__ 99.279 N. W. Harris & Co., Boston__98.589
Wilmerding, Allegheny County, Pa.—Bond Sale.—According to dispatches $21,000 refunding and $31,000 streetimprovement 5% 1-20-year (serial) coupon bonds were sold
on Aug. 17 to the East Pittsburgh National Bank for $54,501—the price thus being 104.809. Denomination $1,000 or
multiples thereof, to suit purchaser. Interest semi-annual.
Winthrop, Suffolk County, Mass.—No Action Yet Taken.
—No steps have yet been taken looking towards the issuance
of the $32,000 bonds mentioned in V. 89, p. 1578. We are
advised, however, that some action will be taken in the matter about Sept. 15.
Woodruff School District No. 33 (P. 0. Woodruff), Spartanburg County, So. Caro.—Bond Sale.—This district has
sold the $5,000 5% coupon heat-and-light-plant-equipment
bonds, bids for which were rejected (V. 89, p. 122) on July 1.
Worcester, Worcester County, Mass.—Temporary Loan.—
A temporary loan of $100,000 has been negotiated with
Kissel, Kinnicut dr Co. of New York City at a discount of
3.27% and a premium of 50c. Loan matures Oct: 15 1909.
Wyandot County (P. 0. Upper Sandusky), Ohio.—Bond
Sale.—The following bids were received for an issue of
$6,000 5% road-improvement bonds offered on Aug. 12:
Cit. Say. Bk., Up. Sand'y_$6,135 00 Seasongood & Mayer, Cin_$6,086 00
First Nat. Bank, Cleve_ ___ 6,120 00 Western-Ger. Bk., Cin_ _ _ _ 6,068 68
Hayden, Miller & Co., Cie_ 6,110 00 First Nat. Bank, Barnesv_ 6,026 00
Authority, Act of General Assembly passed April 1 1900. Denomination $400. Date July 1 1909. Interest semi-annually at the County
Treasurer's office. Maturity $1,200 yearly on July 1 from 1910 to 1914
inclusive.
MISCELLANEOUS.
$300,000
CITY OF CHARLESTON,S.C.
SEWER BONDS
Canada,its Provinces and Municipalities.
Amaranth Township (P. 0. Orangeville), Ont.—Debentures Voted.—Local papers state that an election held Aug.
14 resulted in favor of the question of issuing $7,800 bridgebuilding debentures.
Antigonish, N. S.—Debenture Sale.—The $8,000 20-year
debentures, proposals for which were asked until July 22
(V. 89, p. 184), have been awarded to the Royal Securities
95.
Corporation of Halifax at 98.75 and accrued interest for 43/
The following bids were received:
Royal Sec. Corp., Halifax_ _ _ _98.75 J. M. Robinson Fe Sons, St. J..98
J. C. Macintosh & Co., Hall_ _98.025 Brent, Noxon & Co., Toronto_95.987
Birtle, Man.—Debentures Voted—Debenture Oftering.—
The proposition to issue the $18,800 4 M% 20-year refunding
and town-hall-construction debentures mentioned in V. 89,
p. 246, carried by a vote of 34 to 10 at the election held
Aug. 3. Proposals for these debentures will be received
until 6 p. m. Sept. 14. J. C. Dudley is Town SecretaryTreasurer.
Cobalt, Ont.—Debenture Sale.—G. A. Stimson & co. of
Toronto have purchased the following 5% debentures:
$25,000 5-year general-improvement and fire-protection debentures.
75,000 10-year water-works-Installation debentures.
Oranbrook, B. 0.—Debenture Offering.—Proposals will be
received until 12 m. Aug. 30 by Thos. M. Roberts, City
Clerk, for $70,000 5% debentures dated Sept. 1 1909. Maturity part yearly for 20 years.
Delta, Man.—Debenture Sale.—The 'Union Bank of Canada
recently purchased $10,000 5% 6-year debentures at par.
Gauthier School District, Sask.—Debenture Sale.—Reports state that the Ontario Securities Co. of Toronto was
recently awarded $12,000 5% debentures, due part yearly
for ten years.
Grimsby, Ont.—Debenture Election.—Reports state that
an election will be held Sept. 8 to vote on the question of issuing $15,000 43% 25-year school debentures.
Guelph, Ont.—Debenture Election.—Reports have it that
the rate payers will vote on by-laws providing for the issuance of debentures to pay for the construction of two bridges
and also for local improvements.
INVESTMENTS.
Blodget, Merritt & Co.
Arthur Young & Co.
STATE, CITY
Certified Public Accountants
(ILLINOIS)
AND
RAILROAD BONDS
CINCINNATI, 0.
2 WALL STREET, NEW YORK.
Municipal,
County, State,
and High-Grade Public Service
Securities
Correspondence Solicited
NATIONAL LICHT,
P. J. GOODHART & CO.,
HEAT
& POWER CO.
Bankers
NEW YOUR.
57 BROADWAY
Telephone 2240 Rector
326 Wninut Mt., Cincinnati
Bank and Trust Co. Stocks
MUNICIPAL AND RAILROAD
BONDS.
LIST ON APPLICATION
SEASONGOOD & MAYER,
Mercantile Library Building
CINCINNATI
New York, 30 Pine Street
Milwaukee, 633 Wells Bldg
Chicago, 1315 Monadnock Block
Kansas City, 1106 Commerce Bldg.
6o State Street, - Boston
30 Pine Street, - New York
& Co.,
T. W. STEPHENS & CO. Albert409Kleybolte
Walnut Street,
Investment Bonds
ACCOUNTANTS.
BANKERS
TREASURY DEPARTMENT.
Fr Sealed bids will be received by the undersigned
until 12 o'clock M. Wednesday. September 15,
1909, for Three Hundred Thousand Dollars,
or any part thereof, City of Charleston Sewerage
Bonds, bearing interest at the rate of 4 per cent
per annum, payable April 1 and October 1 in
each year.
The Bonds are to be of the denomination of
$1,000 and $500, and will run for 20 years from
October 1, 1909. A Sinking Fund is provided by
Ordinance for the Redemption of these Bonds.
The right to reject any or all bids is reserved.
Bids should be forwarded to
J. O. LEA,
City Treasurer, Charleston, S. C.
493
GUARANTEED
BONDS
All Imes
LYBRAND
ROSS BROS &
MONTOOMERY
Certified Public Accountants
(Pennsylvania)
Land Title Building
PHILADELPHIA.
City Investing Bldg., 185 Broadway
NEW YORK.
.
Union Rank Building
PITTSBURGH.
JAMES PARK & CO.
CERTIFIED PUBLIC/ ACCOUNTANTS
New York,Chicago, Cincinnati and
London, England.
AUDITORS FOR FINANCIAL INSTITUTIONS, INDUSTRIAL AND
MINING COMPANIES
InveotigatIOns,_ Financial Statements.
Periodical Audits and Amounting.
ALFRED ROSE & Co.,
CERTIFIED PUBLIC ACCOUNTANTS
56 Pine Street, -
NEW YORK
A. H. Bickmore & Co.,
Telephone 4261 John.
BANKERS
LOOMIS, CONANT & CO.
30 Pine Street,
New York CERTIFIED PUBLIC ACCOUNTANTS
Bank and Trust Company Stocks
NEW YORK AND BROOKLYN
BOUGHT AND SOLD
CLINTON OILBERT,
2 WALL ST., NEW YORK.
30 Broad Street, New York
Tel. 495s Broad.
oTTo JULIUS MERKEL
BROKER
44 AND 46 WALL STREET, NEW YORK
INVESTMENT SECURITIES
Correspondence Invited.
•
[VOL. Lxxxix.
THE CHRONICLE
494
Hawkesbury, Ont.-Debenture Sale.-G. A. Stimson &
Co. of Toronto were the successful bidders for $9,400 6%
debentures due part yearly for ten years.
Invermay, Sask.-Debenture Sale.-Sidewalk and roadgrading 6% debentures aggregating $1,000 were recently
sold to the Ontario Securities Co. of Toronto. Maturity
part yearly for fifteen years.
Killarney, Man.-Debenture Sale.-On Aug. 10 the $10,000
5% gold coupon municipal-building debentures, a description of which was given in V. 89, p. 306, were awarded to
Aemilius Jarvis & Co. of Toronto. Maturity part yearly
for twenty years.
Lac St. Vincent School District No. 1,928, Alberta.Debentures Awarded.-On July 24 an issue of $800 5.),%
school-building debentures was awarded to J. Addison Reid
& Co. of Regina at par. Date July 24 1909. Interest
annual. Maturity July 24 1919.
La Fortune School District, Man.-Debenture Sale.Debentures amounting to $800 have been disposed of to
G. A. Stimson & Co. of Toronto. They carry 6% interest
and mature part yearly for ten years.
Lethbridge Protestant Public School District No. 51,
Alta.-Debenture Offering.-Proposals will be received until
Aug. 30 by C. B. Bowman, Secretary, for $39,000 5%
debentures.
Denomination to suit purchaser.
yearly for 30 years.
Interest annual.
Maturity part
Madawaska County (P. 0. Edraunston), N. B.-Debenture
Sale.-This county recently disposed of $12,000 43%
debentures due part yearly for 17 years. J. M. Robinson &
Sons of St. John were the successful bidders.
North Easthope Township, Ont.-Debenture Offering
Proposals will be received until 3 p. m. Aug. 27 by J. D.
Fisher, Township Clerk (P. 0. Amulree), for $3,695 40 5%
drainage debentures. Interest annual. Maturity part
yearly for 10 years.
Parry Sound, Ont.-Debentures Voted.-The election held
Aug. 9 (V. 89, p. 307) resulted in favor of the proposition
to issue the $30,000 5% debentures as a loan to a chemical
plant. The vote was 407 to 19. Maturity part yearly for
twenty years.
Port Arthur, Ont.-Debentures Voted.-The issuance of
the following debentures was authorized at an election held
Aug. 10:
$8,615 431% 20-year debentures to purchase lands for a fair site. See
V. 89, p. 369. Vote 573 to 243.
20,750 water-works-system-extension debentures. Note 766 to 66.
28,120 sewer-system-construction debentures. Vote 684 to 69.
3,500 debentures to purchase the Bell Telephone Co. plant In Port Arthur.
Vote 624 to 180.
21,000 debentures to extend the telephone system. Vote 639 to 120.
5,200 debentures to enlarge the storage battery In connection with the
electric street railway system. Vote 713 to 83.
18,925 debentures to purchase a site for civic purposes. Vote 572 to 176.
St. Vital, Man.-Debenture Sale.-An issue of $2,500 5%
7-year debentures was recently awarded to G. A. Stimson
& Co. of Toronto.
Shelboume Ont.-Debenture Election.-We are advised
that the election to vote upon the proposition to issue the
$6,000 4% water-works improvement debentures mentioned
in V. 89, p. 432, will be held Aug. 27 instead of Sept. 20, as
first reported. Maturity thirty years.
Sidney Mines, N. B.-Debenture Sale.-This place recently
awarded $35,0004% 20-year debentures to J. M. Robinson
& Son of St. John.
. Sudbury, Ont.-Debenture Sale.-This town recently sold
$11,800 5% debentures to G. A. Stimson & Co.of•Toronto.
Maturity part yearly for 20 years.
Tache Roman Catholic Public School District No. 43
(P. 0. South Qu'Appelle), Sask.-Price Paid for Debentures.
-We are informed that Nay & James of Regina paid par
for the $1,000 59% school-building debentures awarded
them (V. 88, p. 1519) in June. Maturity part yearly on
June 8 from 1910 to 1919 inclusive.
Tofield School District No. 1,939 (P. 0. Tofield), Alberta.
-Debenture Sale.-Nay & James of Regina have purchased
$11,000 6% school-building debentures at 105.56. Interest
annually on Dec. 15. Maturity Dec. 15 1929.
Wilmot & Wicklow School District, N. B.-Debenture
Sale.-This district recently awarded $7,000 5% debentures
to J. M. Robinson & Son of St. John. Maturity 10, 15, 20
and 25 years.
MISCELLANEOUS.
MISCELLANEOUS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY. THE
New York, January 21st, 1909.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs
1908.
December,
on the 31st of
to 31st December, 1908
$3,307,807 24
Premiums on 'Marine Risks from 1st January. 1908,1908
743,389 01
Premiums on Policies not marked off 1st January,
Total Marine Premiums--------------------------------------------------------$4,051.196 25
$3,333,483 55
Premiums marked off from 1st January, 1908. to 31st December, 1908
$307,823 39
Interest received during the year
142,032 22 $449.855 61
Rent less Taxes and Expenses
1907
in
estimated
were
which
year
the
during
paid
Losses
$420,655 46
and previous years
1,274,82222 $1,695,477 68
Losses occurred, estimated and paid in 1908
Less Salvages
Re-Insurances
$279,988 33
199,555 37
479,543 70
$1,215,933 98
_
Returns of Premiums- _ --- _ -- - _ -- _ - _ - _ -- -stationery,
Expenses, Including officers' salaries and clerks'---------------newspapers, advertisements, etc
$51,930 45
$344,266 85
AMERICAN MFG CO.
MANILA, SISAL AND JUTE
CORDAGE.
65 Wall Street,
-
New York
1850
1909
The United States Life
Insurance
Co.
THE CITY OF
NEW YORK
IN
Issues Guaranteed Contracts.
JOHN P. MUNN, M.D., President
LIABILITIES.
Finance Committee
Estimated Losses and Losses UnJAJJES R. PLUM
settled
$2,310,433 00 GLARENOE fl.K ELSEY.Prea.Titie Gu. &Leather
Tr.0*.
717,712 70 WM.H.PORTER,Pres. °herniae National Bank
Premiums on Unterminated Risks_
Certificates of Profits and Interest
Unpaid
260,822 35
Good men, whether experienced In life insurance
121,473 65 or not. may make direct contracts with thls
Return Premiums Unpaid
ComCertificates of Profits Ordered Repany, for a limited territory if desired, and secure
deemed,
ai
ithhel for
themselves, In addition to first year's commistor
Premiums
22.339 35 don. a renewal interest Insuring an Income for
the
Certificates of Profits Outstandfuture. Address the Company at its Home °Mail
ing
7,363,410 00 No 277 Broadway. New 'York City.
Premium notes and Bills Receivable 1,377,905 06 Real
00
Estate
270,000
Reserve
European
Fund..--of
hands
the
in
Cash
Bankers to pay losses under poliNOW READY
399,031 95
cies payable in foreign countries_
429,950 18
Cash in Bank
ASSETS.
United States & State of New York
Stock, City. Bank and other Se- $5,442,792 00
curities
Special deposits in Banks &TrustCos. 800,000 00
Real Estate cor. Wall & WilliamSts..
& Exchange Place_$4,299,426 04
Other Real Estate &
claims due the com75,000 00 4,374,426 04
pany
Aggregating
$12,824,105 23
Aggregating
$11,066,191 05
outstanding certificates of profits will be paid to the
A dividend of Interest of Six per cent on the
and after Tuesday the second of February next.
holders thereof, or their legal representatives, on
The outstanding certificates of the issue of 1903 will be redeemed and paid to the holders thereof,
of February next,from which date all
or their legal representatives, on and after Tuesday the second
at the time of payment and canceled.
Interest thereon will cease. The certificates to be produced
net earned premiums of the Company for the year
A dividend of Forty Per cent is declared on the
certificates will be Issued on and after
ending 31st December, 1008, for which, upon application,By
order of the Board.
Tuesday the fourth of May next.
0. STANTON FLOYD-JONES, Secretary.
TRUSTEES.
NICHOLAS F. PALMER.
HERBERT L. GRIGGS,
GUSTAV AMSINCK,
HENRY PARISH,
CLEMENT A. GRISCOM,
FRANCIS M. BACON.
DALLAS B. PRATT,
ANSON W. HARD.
JOHN N. BEACH,
GEORGE W. QUINTARD.
LEWIS CASS LEDYARD.
WILLIAM B. BOULTON.
A. A. RAVEN,
FRANCIS H. LEGGETT,
VERNON H. BROWN,
JOHN L. RIKER,
CHARLES D. LEVERICH.
WALDRON P. BROWN.
LEANDER N. LOVELL,
DOUGLAS ROBINSON.
JOHN CLAFLIN,
GEORGE H. MACY,
GUSTAV H. SCHWAB.
GEORGE 0. CLARK,
CHARLES H. MARSHALL,
WILLIAM SI.OANE,
CLEVELAND H. DODGE,
W. H. H. MOORE,
ISAAC STERN,
CORNELIUS ELDERT,
WILLIAM A. STREET,
RICHARD H. EWART
A. A. RAVEN, President,
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES B. FAY, 3d Vice-President.
JOHN H. JONES STEWART, 418 Vice-President.
Hand-Book of Securities
DESCRIPTION
INCOME
DIVIDENDS
RANGE OF PRICES
eFor series of years to July 1, 1909
Price of Single Copies,
l'o Subscribers of the Chronicle, - . -
51 00
75
The Hand-Book ls Issued to Bankers and
Brokers with their names lettered in gilt on the
outside cover (not less than 25 copies to one
address) at special rates.
Commercial Sz Financial Chronicle
FRONT.PINE-and DEPEYSTER STS.:
NEW YORK!!
@FedFRASER